The changes made in the scope of consolidated financial statements during the reporting period were as follows:
|
|
Full consolidation |
|
Proportionate consolidation |
|
Equity method |
|
|
|
|
|
|
|
As of April 1, 2014 |
|
295 |
|
2 |
|
11 |
Acquisitions |
|
|
|
|
|
|
Change in consolidation method |
|
|
|
|
|
|
Additions |
|
2 |
|
|
|
2 |
Disposals |
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|
|
–2 |
|
|
Reorganizations |
|
–2 |
|
|
|
|
Divestments or disposals |
|
–1 |
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|
|
|
As of June 30, 2014 |
|
294 |
|
0 |
|
13 |
Of which foreign companies |
|
234 |
|
0 |
|
6 |
The following entities were deconsolidated during the first quarter of the business year 2014/15:
Name of entity |
|
Full consolidation in the business year 2013/14 |
Eschmann-Stahl Portugal-Acos Finos e Transformacao de Ferramentas, Unipessoal Lda. – em Liquidacao |
|
Reorganization |
VA OMV Personalholding GmbH |
Advanced Railway Systems GmbH |
|
Proportionate consolidation in the business year 2013/14 |
voestalpine Tubulars GmbH |
voestalpine Tubulars GmbH & Co KG |
The following entities were included in the interim consolidated financial statements for the first time during the first quarter of the business year 2014/15:
Name of entity |
|
Interest in % |
|
|
|
Full consolidation |
|
|
voestalpine Böhler Welding UTP Maintenance GmbH |
|
100.000% |
voestalpine Böhler Welding Trading Asia Pacific Singapore |
|
100.000% |
|
|
|
Equity method |
|
|
voestalpine Tubulars GmbH |
|
50.000% |
voestalpine Tubulars GmbH & Co KG |
|
49.985% |
Additions to the scope of consolidated financial statements of fully consolidated entities include two newly established subsidiaries. voestalpine Tubulars GmbH and voestalpine Tubulars GmbH & Co KG were proportionately consolidated by March 31, 2014, and, beginning with the business year 2014/15, the equity method is being applied.
In the first quarter of the business year 2014/15, no acquisitions took place.
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 first quarter of the business year 2014/15, EUR 6.0 million (2013/14: EUR 6.2 million) was paid for the acquisition of non-controlling interests or provisions were formed for the payment thereof. Non-controlling interests amounting to EUR 5.1 million (2013/14: EUR 4.1 million) were derecognized, and the remaining amount of EUR 0.9 million (2013/14: EUR 2.1 million) was recognized directly in equity.
Put options granted to non-controlling shareholders in exchange for their shares in Group companies are recorded 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. If, however, 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 retained earnings with no effect on profit or loss (double credit approach).
Outstanding put options, which are offset against equity, had a fair value of EUR 0.6 million (March 31, 2014: EUR 5.7 million) as of June 30, 2014.