The changes made in the scope of Consolidated Financial Statements during the first three quarters of the business year 2018/19 were as follows:
|
|
Full consolidation |
|
Equity method |
|
|
|
|
|
As of April 1, 2018 |
|
280 |
|
9 |
Acquisitions |
|
1 |
|
|
Change in consolidation method |
|
|
|
|
Additions |
|
4 |
|
|
Disposals |
|
|
|
|
Reorganizations |
|
–4 |
|
|
Divestments or disposals |
|
|
|
|
As of December 31, 2018 |
|
281 |
|
9 |
Of which foreign companies |
|
222 |
|
4 |
The following entities were deconsolidated in the first three quarters of the business year 2018/19:
Name of entity |
|
Reorganizations |
Sacma Acciai Speciali S.p.A. |
DIN ACCIAI S.p.A. |
voestalpine Bahnsysteme Beteiligungsverwaltung Deutschland GmbH |
voestalpine Automotive Components Deutschland GmbH |
The following entities are being included in the Interim Consolidated Financial Statements for the first time in the first three quarters of the business year 2018/19:
Name of entity |
|
Interest in % |
|
|
|
Full consolidation |
|
|
voestalpine HR Services GmbH |
|
100.000% |
VOEST-ALPINE TUBULAR CORP. |
|
100.000% |
voestalpine Automotive Components Hungaria Kft. |
|
100.000% |
voestalpine Metal Engineering Verwaltung GmbH |
|
100.000% |
Travertec S.R.L. |
|
60.000% |
The additions to the scope of Consolidated Financial Statements of fully consolidated entities include one acquisition, one newly established subsidiary, and the consolidation of three entities not previously included in the scope of the Consolidated Financial Statements.
On November 1, 2018, voestalpine VAE Apcarom SA, which is part of the voestalpine Group’s Metal Engineering Division, acquired a 60% stake in the Romanian concrete sleepers manufacturer Travertec S.R.L. from the German company named PCM Rail.One AG. The acquisition was carried out with the aim of expanding the existing local product portfolio of turnouts and thresholds by adding essential components as well as expanding and securing the company’s market position in both Romania and adjacent export markets.
This acquisition has the following impact on the Consolidated Financial Statements:
|
|
Recognized values |
|
|
|
Non-current assets |
|
1.0 |
Current assets |
|
2.8 |
Non-current provisions and liabilities |
|
–0.2 |
Current provisions and liabilities |
|
–0.3 |
Net assets |
|
3.3 |
Addition of non-controlling interests |
|
–1.3 |
Costs of acquisition |
|
2.0 |
Cash and cash equivalents acquired |
|
–0.6 |
Net cash outflow |
|
1.4 |
|
|
|
In millions of euros |
||
Since their initial consolidation, these acquisitions have contributed revenue of EUR 0.0 million to consolidated revenue. Their share of the Group’s profit after tax was EUR 0.0 million for the same period. The consolidated revenue would have been EUR 0.8 million higher and the Group’s profit after tax would have been EUR 0.6 million higher if the acquisitions had been consolidated as of April 1, 2018.
As part of the first-time full consolidation of Travertec S.R.L., fair values for trade receivables of EUR 0.4 million (gross carrying amount: EUR 0.4 million) and other receivables of EUR 0.2 million (gross carrying amount: EUR 0.2 million) were taken over. Receivables that are expected to be uncollectible are considered immaterial and negligible.
Share page