5. Share of profit of entities consolidated according to the equity method

	2014/15	2015/16

Income from associates	12.5	7.0
Expenses from associates	0.0	0.0
Income from joint ventures	47.7	146.0
Expenses from joint ventures	0.0	0.0
	60.2	153.0

In millions of euros

Income from associates is primarily attributable to METALSERVICE S.P.A., GEORG FISCHER FITTINGS GmbH and Industrie-Logistik-Linz GmbH. Income from joint venture include EUR 145.8 million (including a recycling of cash flow hedges and of currency translation differences) from the transitional consolidation of voestalpine Tubulars GmbH & Co KG, voestalpine Tubulars GmbH and CNTT Chinese New Turnout Technologies Co., Ltd. – see also Chapter D. Acquisitions and other additions to the scope of consolidated financial statements. All other income from entities consolidated according to the equity method are the pro rata profits for the period– see also Chapter B. Summary of accounting policies, section general information.

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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.