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– |
|
04/01– |
|
|
|
|
|
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– |
|
04/01– |
|
|
|
|
|
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.