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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, 2017










Change in consolidation method















Divestments or disposals





As of March 31, 2018





Of which foreign companies





The following entities were deconsolidated during the business year 2017/18:

Name of entity


Date of deconsolidation




Full consolidation in the business year 2016/17



Microcosmic Metal Co., Ltd.


September 13, 2017







voestalpine Finanzierungs GmbH


April 1, 2017

voestalpine Finanzierungs Holding GmbH


April 1, 2017

Eifeler Swiss AG


April 1, 2017

The non-operating company Microcosmic Metal Co., Ltd., China was liquidated.

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
51,600 Employees worldwide

Earnings FY 2017/18

€ 13 Billion


€ 2 Billion


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