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Annual report issue
09-28-2010, 06:20 AM
Post: #1
Annual report issue
Hi,

first of all, I'm not an expert in accounting at all and I hope you can help me out in an admittedly minor issue (which seems to be a major one for me [I]).

Well, I'm trying to get into a financial report by the French transport & logistics company SNCF...and I've found something that confuses me...

As a key figure, on page 5 and 6 SNCF lists their revenue to be approx. 25 bn EURO in 2009. However, on their income statement on page 146, the revenue amounts to approx. 18.5 bn. Euro.

This might be a really stupid question, but shouldn't the revenues in both tables be the same?

You can find the report under the following link
http://http//medias.sncf.com/resources/e...NCF_EN.pdf

I assume that my problem can be solved quickly and I'm simply too blind[8D]...sorry for that...
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09-28-2010, 11:02 AM
Post: #2
 
Dude, these are consolidated financial statements....that means holding/parent and its subsidiaries combined...the 25b revenue is of the group as a whole ..i.e parent plus subsidiaries...

you can see it On page 33 face of consolidated income statement its same...25b

the 18b is the unconsolidated revenue of the parent company only...i.e without combining it with revenue of subsidiaries....
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