Consolidated subsidiaries

The fiscal year’s changes in the consolidated Group are shown in the following table:

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Number

 

Germany

 

Abroad

 

 

 

 

 

Initially consolidated

 

 

 

 

Subsidiaries previously carried at cost

 

4

 

13

Newly acquired subsidiaries

 

0

 

3

Newly formed subsidiaries

 

0

 

5

 

 

4

 

21

Deconsolidated

 

 

 

 

Mergers

 

1

 

5

Liquidations

 

2

 

6

Sales/Other

 

2

 

8

 

 

5

 

19

The initial consolidation or deconsolidation of these subsidiaries, either individually or collectively, did not have a significant effect on the presentation of the net assets, financial position and results of operations. The unconsolidated structured entities are immaterial from a Group perspective. In particular, they do not give rise to any significant risks to the Group.