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 |
|
|||
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 |
|
|
|
|
|
|
||||
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 |
|
|||
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 |
|
|
|
|
|
|
||||
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.
Share page