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34 results for Notes to the consolidated financial statements

1. Reporting entity

The reporting entity is Grontmij N.V. (‘Grontmij’), a company domiciled in the Netherlands.

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2. Basis of preparation

The financial statements have been prepared in accordance with International Financial Reporting Standards (IFRS) as adopted by the European Union (hereinafter referred to as: ‘EU-IFRSs’).

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3. Significant accounting policies

The accounting policies set out below have been applied consistently to all periods accounted for in these consolidated financial statements and by all entities included in the consolidation, except as explained in note 2, which addresses changes in accounting policies.

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4. Determination of fair values

A number of the Group’s accounting policies and disclosures require the determination of fair value.

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5. Financial risk management

The Group has exposure to the following risks from its use of financial instruments.

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6. Discontinued operation

The Telecom division within Ginger S.A. (‘Ginger’) is presented as held for sale following the commitment of the Executive Board, in December 2010, to a plan to sell the Telecom division.

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7. Acquisitions and divestments of subsidiaries and non-controlling interests

On 18 June 2010 the Group obtained control of Ginger, a French engineering company, by acquiring 51.8 percent of the shares and voting rights in the company.

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8. Subsidiaries

The main (operational) subsidiaries included in the consolidation.

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9. Goodwill

The movements in the carrying amount.

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10. Intangible assets

The breakdown of and movements in the carrying amounts.

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