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General information/accounting policies

These interim consolidated financial statements of voestalpine AG as of September 30, 2015 for the first half of the business year 2015/16 were prepared in accordance with IAS 34 – Interim Financial Reporting. The accounting policies are unchanged from the annual consolidated financial statements for the business year 2014/15 with the following exceptions:

The following new and revised standards were adopted for the first time in the business year 2015/16

 

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Standard

 

Content

 

Effective date1

 

 

 

 

 

IAS 19, amendments

 

Defined Benefit Plans: Employee Contributions

 

July 1, 2014

Various standards, amendments

 

Annual Improvements to International Financial Reporting Standards, 2010–2012 Cycle

 

July 1, 2014

Various standards, amendments

 

Annual Improvements to International Financial Reporting Standards, 2011–2013 Cycle

 

July 1, 2014

 

 

 

 

 

1
These standards are applicable to reporting periods beginning on or after the effective date.

There were no material effects of the new and revised standards on voestalpine AG’s interim consolidated financial statements.

The following standards have already been published as of the reporting date, but their application was not yet mandatory for the business year 2015/16, or they have not yet been adopted by the European Union:

Published by IASB but not adopted by the European Union as of the reporting date

 

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Standard

 

Content

 

Effective date according to IASB1

 

 

 

 

 

IAS 1, amendments

 

Disclosure initiative

 

January 1, 2016

IAS 16 and IAS 38, amendments

 

Clarification of Acceptable Methods of Depreciation and Amortization

 

January 1, 2016

IAS 16 and IAS 41, amendments

 

Agriculture: Bearer Plants

 

January 1, 2016

IAS 27, amendments

 

Equity Method in Separate Financial Statements

 

January 1, 2016

Various standards, amendments

 

Annual Improvements to International Financial Reporting Standards, 2012–2014 Cycle

 

January 1, 2016

IFRS 10, IFRS 12 and IAS 28, amendments

 

Investment Entities: Applying the Consolidation Exception

 

January 1, 2016

IFRS 11, amendments

 

Accounting for Acquisitions of Interests in Joint Operations

 

January 1, 2016

IFRS 14

 

Regulatory Deferral Accounts

 

January 1, 2016

IFRS 15

 

Revenue from Contracts with Customers

 

January 1, 2018

IFRS 9

 

Financial Instruments

 

January 1, 2018

 

 

 

 

 

1
These standards are applicable to reporting periods beginning on or after the effective date.

These standards—insofar as they have been adopted by the European Union—are not being adopted early by the Group. From today’s perspective, material effects of the new and revised standards on the voestalpine Group’s financial position are not expected.

Further information on the other principles of preparation is provided in the consolidated financial statements as of March 31, 2015, on which these interim consolidated financial statements are based.

The interim consolidated financial statements are presented in millions of euros (the functional currency of the parent company). The use of automated calculation systems may result in rounding differences.

Unless otherwise stated, comparative information relates to the first half of the business year 2014/15 (reporting date: September 30, 2014).

A minor error in the allocation of profit to equity holders of the parent and owners of hybrid capital occurred in the Letter to Shareholders for the first quarter of 2015/16 due to the retroactive adjustment for the same period of the previous year (first quarter of 2014/15), which has now been corrected in the current interim consolidated financial statements.

The present interim consolidated financial statements have not been audited or reviewed by auditors.

About voestalpine

The voestalpine Group is a steel-based technology and capital goods group that operates worldwide. With its top-quality products, the Group is one of the leading partners to the automotive and consumer goods industries in Europe and to the oil and gas industries worldwide.

Facts

50 Countries on all 5 continents
500 Group companies and locations
48,100 Employees worldwide

Earnings FY 2014/15

€ 11.2 Billion

Revenue

€ 1.5 Billion

EBITDA

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