Consolidation Group

The Group financial statements as of December 31, 2011, include those companies in which Wincor Nixdorf AG directly or indirectly has a majority of the voting rights (subsidiaries), or from which it is able to derive the greater part of the economic benefit and bears the greater part of the risk by virtue of its power to govern corporate financial and operating policies. Inclusion of such companies’ accounts in the Group financial statements begins at the moment of exercising control over the company, and ceases at expiration of control.

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