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Investments in associates and joint ventures

Shares in immaterial joint ventures

As of December 31, 2015 only Jiaxing NYC Industrial Co., Ltd is reported as a joint venture. Up to March 31, 2015, the equity method was used for the former joint ventures voestalpine Tubulars GmbH & Co KG (up to now classified as material joint venture), voestalpine Tubulars GmbH, and CNTT Chinese New Turnout Technologies Co., Ltd. (up to now classified as immaterial joint ventures) and, beginning with the business year 2015/16, full consolidation is being applied as the Group has obtained control over these companies. For the related amounts recognized in the share of profit of entities consolidated according to the equity method and in the other comprehensive income see Chapter “Scope of consolidated financial statements/acquisitions.”

Profits from the joint ventures, which are individually immaterial for the voestalpine interim consolidated financial statements, are included using the equity method. This information is related to the interest held by the voestalpine Group in immaterial joint ventures and breaks down as follows:

 

 

04/01–12/31/2014

 

04/01–12/31/2015

 

 

 

 

 

Group share of

 

 

 

 

Profit for the period

 

6.6

 

0.1

Other comprehensive income

 

3.1

 

0.0

Comprehensive income

 

9.7

 

0.1

 

 

 

 

 

Carrying amount immaterial joint ventures

 

35.3

 

3.3

 

 

 

 

 

  

In millions of euros

Shares in immaterial associates

The profit from associates that are individually immaterial for the voestalpine interim consolidated financial statements are included using the equity method. This information is related to the interest held by the voestalpine Group in associates and breaks down as follows:

 

 

04/01–12/31/2014

 

04/01–12/31/2015

 

 

 

 

 

Group share of

 

 

 

 

Profit for the period

 

8.0

 

8.3

Other comprehensive income

 

3.5

 

0.1

Comprehensive income

 

11.5

 

8.4

 

 

 

 

 

Carrying amount immaterial associates

 

107.9

 

118.5

 

 

 

 

 

  

In millions of euros

In the first half the business year 2015/16, WS Service GmbH, which specializes in the inspection, service, and corrective maintenance of turnouts, was included in the interim consolidated financial statements for the first time as an associate. By way of a share deal (share exchange), voestalpine Weichensysteme GmbH (Metal Engineering Division) now holds 49.0% of WS Service GmbH (reporting date: December 31). As part of this share deal, 13.05% of the shares of Weichenwerk Wörth GmbH were divested and 49.0% of the WS Service GmbH shares were added.

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.

Facts

50 Countries on all 5 continents
500 Group companies and locations
48,100 Employees worldwide

Earnings FY 2014/15

€ 11.2 Billion

Revenue

€ 1.5 Billion

EBITDA

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