The consolidated Group (see “Investments” appendix to the notes) is defined 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 its subsidiaries). Entities controlled by voestalpine AG which are not included in the financial statements of voestalpine AG, are negligible, both individually and collectively.
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.
Proportionately consolidated companies are included in the consolidated financial statements with the following proportionate amounts:
|
|
|
03/31/2013 |
|
03/31/2014 |
|
|
|
|
|
|
|
Non-current assets |
|
28.6 |
|
31.4 |
|
Current assets |
|
100.4 |
|
93.9 |
|
|
|
129.0 |
|
125.3 |
|
|
|
|
|
|
|
Equity |
|
80.0 |
|
83.8 |
|
Non-current provisions and liabilities |
|
13.1 |
|
13.7 |
|
Current provisions and liabilities |
|
35.9 |
|
27.8 |
|
|
|
129.0 |
|
125.3 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
2012/13 |
|
2013/14 |
|
|
|
|
|
|
|
Revenue |
|
295.2 |
|
277.2 |
|
Cost of sales |
|
213.3 |
|
197.9 |
|
Profit for the period |
|
53.6 |
|
53.6 |
|
|
|
|
|
|
|
|
|
In millions of euros |
||
The following table shows the values (100%) for entities included in the consolidated financial statements using the equity method:
|
|
|
03/31/2013 |
|
03/31/2014 |
|
|
|
|
|
|
|
Non-current assets |
|
354.0 |
|
340.7 |
|
Current assets |
|
689.3 |
|
438.0 |
|
|
|
1,043.3 |
|
778.7 |
|
|
|
|
|
|
|
Equity |
|
408.8 |
|
349.2 |
|
Non-current provisions and liabilities |
|
103.1 |
|
147.9 |
|
Current provisions and liabilities |
|
531.4 |
|
281.6 |
|
|
|
1,043.3 |
|
778.7 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
2012/13 |
|
2013/14 |
|
|
|
|
|
|
|
Revenue |
|
2,433.2 |
|
1,098.7 |
|
Profit for the period |
|
47.9 |
|
34.4 |
|
|
|
|
|
|
|
|
|
In millions of euros |
||
The scope of consolidated financial statements changed as follows during the business year under review:
|
|
|
Full consolidation |
|
Proportionate consolidation |
|
Equity-Methode |
|
|
|
|
|
|
|
|
|
As of April 1, 2013 |
|
291 |
|
2 |
|
12 |
|
Acquisitions |
|
5 |
|
|
|
|
|
|
|
|
|
|
|
|
|
Change in consolidation method |
|
|
|
|
|
|
|
Acquisitions |
|
8 |
|
|
|
1 |
|
Disposals |
|
–1 |
|
|
|
|
|
Reorganizations |
|
–6 |
|
|
|
–1 |
|
Divestments or disposals |
|
–2 |
|
|
|
–1 |
|
As of March 31, 2014 |
|
295 |
|
2 |
|
11 |
|
Of which foreign companies |
|
233 |
|
0 |
|
6 |
Additions resulting from the change in the consolidation method include a fund of funds that was fully consolidated as of April 1, 2013. The effect on the consolidated financial statements can be considered immaterial and negligible.
The two proportionately consolidated entities are voestalpine Tubulars GmbH and voestalpine Tubulars GmbH & Co KG that are controlled jointly with NOV Grant Prideco.
The following entities were deconsolidated during the business year 2013/14:
|
Name of entity |
|
Date of deconsolidation |
|
|
|
|
|
Full consolidation in the business year 2012/13 |
|
|
|
Stratford Joists Limited |
|
June 30, 2013 |
|
Digvijay Steels Private Limited |
|
February 18, 2014 |
|
ASSAB International Aktiebolag |
|
March 31, 2014 |
|
|
|
|
|
Reorganization |
|
|
|
EIFELER POLITEC GMBH |
|
April 1, 2013 |
|
BÖHLER-UDDEHOLM HÄRTEREITECHNIK GmbH |
|
April 1, 2013 |
|
voestalpine Profilform Beteiligung GmbH |
|
April 1, 2013 |
|
Böhler Uddeholm Precision Steel AB |
|
April 1, 2013 |
|
Böhler Uddeholm Service Center AB |
|
April 1, 2013 |
|
Böhler Uddeholm Saw Steel AB |
|
April 1, 2013 |
|
|
|
|
|
Equity method in the business year 2012/13 |
|
|
|
VA Intertrading Aktiengesellschaft |
|
September 12, 2013 |
|
|
|
|
|
Reorganization |
|
|
|
Industrie-Logistik-Linz GmbH & Co KG |
|
July 3, 2013 |
