The consolidated Group (see “Investments” appendix to the notes) is established in accordance with IFRS. In addition to the annual financial statements of voestalpine AG, the consolidated financial statements also include the financial statements of entities controlled by voestalpine AG (and their subsidiaries).
Subsidiaries are entities controlled by the Group. Control exists when the Group has the power, directly or indirectly, to govern the financial and operating policies of an entity so as to obtain benefits from its activities. Joint ventures are included in the consolidated financial statements using proportionate consolidation. The annual financial statements of subsidiaries and joint ventures are included in the consolidated financial statements from the acquisition date until disposal date.
Associates are entities over which the Group has significant influence without having control over the financial and operating policies. The annual financial statements of associates are included in the consolidated financial statements using the equity method, from the acquisition date until disposal date. The Group’s associates are listed in the “Investments” appendix to the notes.
The following table shows the proportionate amounts included in the consolidated financial statements by proportionate consolidation:
(XLS:) Download  |
|
|
|
03/31/2009 |
|
03/31/2010 |
|
|
|
|
|
|
|
Non-current assets |
|
31.5 |
|
29.4 |
|
Current assets |
|
104.7 |
|
53.6 |
|
|
|
136.2 |
|
83.0 |
|
|
|
|
|
|
|
Equity |
|
30.5 |
|
28.2 |
|
Non-current provisions and liabilities |
|
11.8 |
|
10.0 |
|
Current provisions and liabilities |
|
93.9 |
|
44.8 |
|
|
|
136.2 |
|
83.0 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
2008/09 |
|
2009/10 |
|
|
|
|
|
|
|
Revenue |
|
287.7 |
|
144.9 |
|
Cost of sales |
|
191.6 |
|
104.4 |
|
Profit for the period |
|
69.6 |
|
25.2 |
|
|
|
|
|
|
|
|
|
In millions of euros | ||
The following table shows the values (100%) for entities included in the consolidated financial statements using the equity method:
| (XLS:) Download |
|
|
|
03/31/2009 |
|
03/31/2010 |
|
|
|
|
|
|
|
Non-current assets |
|
323.2 |
|
315.6 |
|
|
739.4 |
|
577.8 | |
|
|
|
1,062.6 |
|
893.4 |
|
|
|
|
|
|
|
|
351.1 |
|
334.7 | |
|
Non-current provisions and liabilities |
|
124.6 |
|
66.7 |
|
Current provisions and liabilities |
|
586.9 |
|
492.0 |
|
|
|
1,062.6 |
|
893.4 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
2008/09 |
|
2009/10 |
|
|
|
|
|
|
|
Revenue |
|
3,205.1 |
|
1,742.9 |
|
Profit for the period |
|
71.3 |
|
52.8 |
|
|
|
|
|
|
|
|
|
In millions of euros | ||
The scope of consolidated financial statements changed as follows during the business year:
| (XLS:) Download |
|
|
|
Full |
|
Proportionate |
|
Equity |
|
|
|
|
|
|
|
|
|
As of April 1, 2009 |
|
320 |
|
2 |
|
15 |
|
Acquisitions |
|
0 |
|
|
|
|
|
Change in consolidation method |
|
|
|
|
|
|
|
Acquisitions |
|
5 |
|
|
|
|
|
Disposals |
|
–3 |
|
|
|
–2 |
|
Reorganizations |
|
–16 |
|
|
|
|
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Divestments or disposals |
|
–10 |
|
|
|
|
|
As of March 31, 2010 |
|
296 |
|
2 |
|
13 |
|
Of which foreign companies |
|
240 |
|
0 |
|
5 |
The following entities were deconsolidated during the business year 2009/10:
| (XLS:) Download |
|
Name of entity |
|
Date of deconsolidation |
|
|
|
|
|
Full consolidation in the previous year |
|
|
|
voestalpine Euroweld S.r.l. |
|
June 30, 2009 |
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Böhler Welding Group Norway AS |
|
March 31, 2010 |
|
BTF S.p.A. |
|
September 30, 2009 |
|
DAN Spray A/S |
|
April 1, 2009 |
|
Flotek (International) Ltd. |
|
April 1, 2009 |
|
Hilarius Haarlem Holland Beheer B.V. |
|
April 1, 2009 |
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Meltgran AB |
|
March 31, 2010 |
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Meltgran Management AB |
|
March 31, 2010 |
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Meltgran Trading AB |
|
March 31, 2010 |
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Nedcon N.V. |
|
March 31, 2010 |
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Polynorm Automotive Holding USA Inc. |
|
March 31, 2010 |
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voestalpine Polynorm Inc. |
|
March 31, 2010 |
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voestalpine Polynorm Plastics Limited |
|
March 31, 2010 |
|
|
|
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Reorganization |
|
|
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Coriolis |
|
April 1, 2009 |
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Böhler Uddeholm Services, LLC |
|
April 1, 2009 |
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Böhler Ybbstal GmbH |
|
April 1, 2009 |
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Böhler Schweißtechnik GmbH |
|
April 1, 2009 |
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Böhler Verwaltungs GmbH |
|
April 1, 2009 |
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Böhler-Uddeholm Bearbeitungs GmbH |
|
April 1, 2009 |
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Böhler-Uddeholm Precision Strip GmbH & Co KG |
|
April 1, 2009 |
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Böhler-Uddeholm Precision Strip GmbH |
|
April 1, 2009 |
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Buderus Edelstahl Zerspanungstechnik GmbH |
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April 1, 2009 |
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BWG Services Verwaltungs GmbH |
|
April 1, 2009 |
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Kestra Schweißtechnik GmbH |
|
April 1, 2009 |
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LEED Steel LLC |
|
April 1, 2009 |
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Martin Miller GmbH |
|
April 1, 2009 |
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Soudometal S.A. |
|
April 1, 2009 |
|
Summerville Steel LLC |
|
April 1, 2009 |
|
voestalpine Dancke Werkzeugbau GmbH & Co KG |
|
April 1, 2009 |
|
|
|
|
|
Equity method in the previous year |
|
|
|
Böhler-Uddeholm Immobilien GmbH |
|
March 31, 2010 |
The disposals had the following effect on the consolidated financial statements:
| (XLS:) Download |
|
|
|
Recognized values |
|
|
|
|
|
Non-current assets |
|
–8.8 |
|
Current assets |
|
–10.5 |
|
Non-current provisions and liabilities |
|
1.0 |
|
Current provisions and liabilities |
|
11.6 |
|
Net assets |
|
–6.7 |
|
|
|
|
|
Consideration received |
|
6.0 |
|
Cash and cash equivalents disposed of |
|
–0.8 |
|
Net cash inflow |
|
5.2 |
|
|
|
|
|
|
|
In millions of euros |
