Explanatory Notes

Scope of Consolidation

Changes in the scope of consolidation

The consolidated financial statements as of March 31, 2018, included 237 companies (December 31, 2017: 237 companies). Eight (December 31, 2017: eight) joint ventures and four (December 31, 2017: four) associates were accounted for in the consolidated financial statements using the equity method according to IAS 28 (Investments in Associates and Joint Ventures). The Covestro Group was deconsolidated as of September 30, 2017. As the parent company of the Covestro Group, Covestro AG is accounted for in the consolidated financial statements using the equity method.

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