Match the statement to the question you are asking.
01
A holding company's standalone profit is not the group. On its own the parent sees a subsidiary as an investment and the dividend it sends up, nothing more. A company whose value lives in its subsidiaries can look tiny, or absurdly priced, on the standalone line while the group earns many times as much.
02
The consolidated headline counts money that is not all yours. Full consolidation adds 100 percent of a part owned subsidiary, then hands a slice back as non controlling interest. Read the line called profit attributable to owners, not the top consolidated number. The gap belongs to the subsidiary's other shareholders.
03
Each statement answers a different question. Standalone tells you what the parent alone earns and can pay out. Consolidated attributable tells you what you actually own. EPS, P/E and the payout you receive each need the right one. Mix them and you misprice the stock.
One company. Two sets of books. The standalone hides the group, the consolidated headline counts a slice that was never yours, and the number that is actually yours sits between them, on the line nobody reads out loud.
See how the numbers fit the whole picture
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