Page 79 - ENAV eng_Relazione_Finanziaria_Annuale_2014

Notes to the Consolidated Financial Statements of the Enav Group 77

Controlled entities are included in the consolidation scope from the date
the Group obtains control and leave the scope when the Group loses
that control. The assets, liabilities, income and expenses of subsidiaries
acquired or disposed of during the year are included in comprehensive
income from the date on which the Group gains control until the date
that control ceases. The newly-formed company ENAV North Atlantic,
wholly owned by ENAV SpA, entered the consolidation scope for the first
time in 2014. The following tables sets out the companies included in the
consolidation scope, with share or quota capital expressed in thousands
of euros:

Company name Headquarters Business Currency Consolida- Share or % holding
tion method quota
Subsidiaries capital direct group
Techno Sky Srl
ENAV Asia Pacific Rome Services Euro Line-by-line 1,600 100% 100%
SICTA Consortium Kuala Lumpur Services 127 100% 100%
ENAV North Atlantic Services Malaysian Line-by-line 60% 100%
Naples Services ringgit 1,033 100% 100%
Miami 28,084
Euro Line-by-line

US dollar Line-by-line

The financial statements of subsidiaries are prepared as of 31 December,
the reference date for the consolidated financial statements, specifically
prepared and approved by the management bodies of each individual entity
and adjusted as necessary to comply with the accounting principles and
polices used by the ENAV Group.