D. Acquisitions and other additions to the scope of consolidated financial statements

The following entities were included in the consolidated financial statements for the first time during the business year 2011/12:

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Name of entity


Interest in %


Date of initial consolidation






Full consolidation





Böhler Welding Group GmbH




March 16, 2012

LASA Schienentechnik GmbH




April 1, 2011

voestalpine HYTRONICS GmbH




April 1, 2011

voestalpine Standortservice GmbH




April 1, 2011

These entities (with the exception of restructuring) contributed EUR 0.1 million (2010/11: EUR –0.5 million) to the profit for the period and EUR 3.6 million (2010/11: EUR 6.8 million) to sales during the business year since initial consolidation.

The pro-forma values “as though the acquisition date had been at the beginning of the period” are identical to the above mentioned figures.

Additions to the scope of consolidated financial statements include one start-up, one spin-off, and the consolidation of previously non-consolidated subsidiaries.

In accordance with IFRS 3, the acquired companies are included in the consolidated financial statements at the fair value of the acquired assets, liabilities, and contingent liabilities determined as of the acquisition date, including depreciation and amortization as appropriate. In accordance with IFRS 3, intangible assets, inventories, and provisions shall be considered provisional due to uncertainties.

The increase of majority interests is treated as a transaction between owners. The difference between the costs of acquisition for the additional shares and the pro-rated carrying value of the non-controlling interests is recognized directly in equity. During the business year 2011/12, EUR 35.4 million (2010/11: EUR 16.9 million) were paid or provisions for the payment thereof made for the acquisition of non-controlling interests. This figure also includes an amount from the cash settlement proceeding to the former minority shareholders of BÖHLER-UDDEHOLM Aktiengesellschaft that was offset directly against equity (see also Item 19. Provisions). Non-controlling interests amounting to EUR 0.5 million (2010/11: EUR 4.6 million) were derecognized, and the remaining amount of EUR 34.9 million (2010/11: EUR 12.3 million) was charged directly in equity.

Put options granted to non-controlling shareholders in exchange for their shares in Group companies are disclosed in the statement of financial position as liabilities stated at fair value. If the risks and rewards associated with ownership of a non-controlling interest have already been transferred at the time the majority interest was acquired, an acquisition of 100% of the entity is assumed. Where the risks and rewards have not been transferred, the non-controlling interest continues to be shown in equity. The liability is covered by a direct transfer from Group capital reserves with no effect on profit or loss (double credit approach).

Open put options, which are charged against equity, had a fair value of EUR 0.0 million (2010/11: EUR 2.5 million) as of March 31, 2012.

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