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C. Scope of consolidation

The consolidated Group (see the “Investments” appendix to the Notes) is defined in accordance with IFRS requirements. 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 Consolidated 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 power over the investee, is exposed to fluctuating returns on its investments, 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 up 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, because it participates in the entities’ financial and operating policy decisions, but the decision-making processes are not controlled nor jointly managed. 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 entity’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 the disposal date. The Group’s associates and joint ventures are listed in the “Investments” appendix to the Notes.

Changes in the scope of consolidation

The scope of consolidation changed as follows during the past business year:



Full consolidation


Equity method






As of April 1, 2018





Additions from acquisitions





Change in the consolidation method




















Divestments or disposals





As of March 31, 2019





Of which foreign companies





The following entities were deconsolidated during the business year 2018/19:

Name of entity


Date of




Full consolidation in the business year 2017/18



Danube Equity GmbH


March 31, 2019

voestalpine Stamptec Pfaffenhofen GmbH & Co. KG


February 2, 2019







Sacma Acciai Speciali S.p.A.


April 1, 2018



April 1, 2018

voestalpine Bahnsysteme Beteiligungsverwaltung Deutschland GmbH


April 1, 2018

voestalpine Automotive Components Deutschland GmbH


April 1, 2018

voestalpine Stamptec Pfaffenhofen GmbH & Co. KG was liquidated effective February 2, 2019.

Due to the discontinuation of its business activities, Danube Equity GmbH was deconsolidated as of the close of the business year.

About voestalpine

In its business segments, voestalpine is a globally leading technology group with a unique combination of materials and processing expertise. With its top-quality products and system solutions using steel and other metals, it is a leading partner of the automotive and consumer goods industries as well as of the aerospace and oil & gas industries. voestalpine is also the world market leader in complete railway systems as well as in tool steel and special sections.


50 Countries on all 5 continents
500 Group companies and locations
52,000 Employees worldwide

Earnings FY 2018/19

€ 13.6 Billion


€ 1.6 Billion


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