If you use this site, you agree to our use of cookies. More information I accept cookies

C. Scope of consolidated financial statements

The consolidated Group (see “Investments” appendix to the Notes) is defined in accordance with IFRS. In addition to the annual financial statements of voestalpine AG, the consolidated financial statements also include the financial statements of entities controlled by voestalpine AG (and its subsidiaries). Entities controlled by voestalpine AG that are not included in the financial statements of voestalpine AG are negligible, both individually and collectively.

Subsidiaries are entities controlled by the Group. Control exists when the voestalpine Group has the power over the investee, is exposed to variable returns and has the ability to use its power over the investee to affect the amount of the investor’s returns. The annual financial statements of subsidiaries are included in the consolidated financial statements as of the point in time at which the Group acquires control over the subsidiary and extends to the point in time at which the Group ceases to exercise control over the subsidiary.

Associates are entities over which the voestalpine Group has significant influence through participating in the financial and operating policy decisions, but not control or joint control of those policies. Joint ventures are joint arrangements in which partner companies (the voestalpine Group and one or more partners) exercise joint control over the arrangement and possess rights to the company’s net assets. The annual financial statements of associates and joint ventures are included in the consolidated financial statements using the equity method from the acquisition date until disposal date. The Group’s associates and joint ventures are listed in the “Investments” appendix to the Notes.

Changes in scope of consolidated financial statements

The scope of consolidated financial statements changed as follows during the business year under review:



Full consolidation


Equity method






As of April 1, 2016










Change in consolidation method




















Divestments or disposals





As of March 31, 2017





Of which foreign companies





The following entities were deconsolidated during the business year 2016/17:

Name of entity


Date of deconsolidation




Full consolidation in the business year 2015/16



Polynorm Immobilien GmbH & Co. KG


April 1, 2016

Sturdell Holdings, Inc.


April 5, 2016

Kadow und Riese Laser- und Umformtechnik GmbH


July 26, 2016

Vacotec S.A.


March 2, 2017

Eschmann Steels Trading (Shanghai) Co., Ltd.


March 2, 2017

OOO voestalpine Arkada Profil


March 17, 2017







BU Beteiligungs- und Vermögensverwaltung GmbH


April 1, 2016

BÖHLER Wärmebehandlung GmbH


April 1, 2016

Grimstows Holdings Inc.


April 1, 2016

voestalpine Stamptec Qinhuangdao Co., Ltd.


April 1, 2016

voestalpine Precision Strip WI, Inc.


April 1, 2016

Nedcon Magazijninrichting B.V.


April 1, 2016

In late July, the sale of Kadow und Riese Laser- und Umformtechnik GmbH (part of the Metal Forming Division) was concluded. The company primarily produces sheet-formed parts in the form of prototypes, pilot series and small-batch series for the mobility sector. Due to the company’s growing strategic deviation from voestalpine’s core business, voestalpine decided to go forward with the sale (few synergies with other companies of the voestalpine Group because of its stand-alone location and the very volatile and short-term business in the prototype segment). The company generated revenue of around EUR 8 million in the business year 2015/16 and has around 70 employees.

The disposal had the following effect on the consolidated financial statements:



Recognized values




Non-current assets



Current assets



Non-current provisions and liabilities



Current provisions and liabilities



Net assets



Result from the loss of control



Consideration received



Cash and cash equivalents disposed of



Net cash inflow






In millions of euros

About voestalpine

In its business segments, voestalpine is a globally leading technology and capital goods group with a unique combination of material and processing expertise. With its top-quality products and system solutions using steel and other metals, it is a leading partner to the automotive and consumer goods industries in Europe and to the aerospace, oil and gas industries worldwide. The voestalpine Group is also the world market leader in turnout technology, special rails, tool steel, and special sections.


50 Countries on all 5 continents
500 Group companies and locations
50,000 Employees worldwide

Earnings FY 2016/17

€ 11.3 Billion


€ 1.54 Billion


To the Top