SHARES IN MATERIAL ASSOCIATES
Following the sale of 80% of its equity interest in the ArcelorMittal Texas HBI Group (formerly the voestalpine Texas Group) domiciled in the State of Delaware, USA, voestalpine now holds a 20% share and exercises substantial influence over this company and its subsidiary. This share is accounted for at equity.
The deal was closed on June 30, 2022. Control was transferred to the buyer as of said date. This was followed by the deconsolidation of the subsidiary and its initial recognition as an associate. The ArcelorMittal Texas HBI Group operates a direct reduction plant and supplies hot briquetted iron (HBI) to the voestalpine Group. The company is not a listed entity.
The following tables contain the financial data on the ArcelorMittal Texas HBI Group.
|
|
ArcelorMittal Texas HBI Group |
||
|---|---|---|---|---|
|
|
03/31/2023 |
|
09/30/2023 |
|
|
|
|
|
Non-current assets |
|
461.8 |
|
444.7 |
Current assets |
|
302.0 |
|
360.5 |
Non-current liabilities |
|
44.1 |
|
40.1 |
Current liabilities |
|
88.4 |
|
88.7 |
Net assets (100%) |
|
631.3 |
|
676.4 |
|
|
|
|
|
In millions of euros |
||||
|
|
ArcelorMittal Texas HBI Group |
||
|---|---|---|---|---|
|
|
07/01–09/30/2022 |
|
04/01–09/30/2023 |
|
|
|
|
|
Revenue |
|
241.8 |
|
364.3 |
|
|
|
|
|
Profit after tax |
|
23.3 |
|
13.3 |
Profit after tax (20%) |
|
4.7 |
|
2.7 |
Other comprehensive income |
|
9.0 |
|
2.7 |
Periodic update of PPA |
|
0.0 |
|
2.8 |
Elimination of intra-Group profits incl. deferred taxes |
|
–0.3 |
|
0.0 |
Comprehensive income (20%) |
|
13.4 |
|
8.2 |
|
|
|
|
|
Proportional dividends received |
|
0.0 |
|
0.0 |
|
|
|
|
|
In millions of euros |
||||
|
|
ArcelorMittal Texas HBI Group |
||
|---|---|---|---|---|
|
|
03/31/2023 |
|
09/30/2023 |
|
|
|
|
|
Net assets, closing balance |
|
631.3 |
|
676.4 |
20% Group share of net assets |
|
126.3 |
|
135.2 |
Goodwill incl. net exchange differences |
|
3.1 |
|
3.2 |
Impairment as of 03/31/2023 incl. net exchange differences |
|
–31.6 |
|
–32.4 |
Carrying amount of the Group’s equity interest |
|
97.8 |
|
106.0 |
|
|
|
|
|
In millions of euros |
||||
SHARES IN IMMATERIAL JOINT VENTURES
Profits from the joint ventures, which are individually immaterial to voestalpine’s Interim Consolidated Financial Statements, are included using the equity method. This information relates to the interests of the voestalpine Group in the immaterial joint ventures and is broken down as follows:
|
|
04/01– |
|
04/01– |
|---|---|---|---|---|
|
|
|
|
|
Group share of |
|
|
|
|
Profit after tax |
|
–0.1 |
|
0.0 |
Other comprehensive income |
|
0.1 |
|
–0.1 |
Comprehensive income |
|
0.0 |
|
–0.1 |
|
|
|
|
|
Carrying amount, immaterial joint ventures |
|
4.4 |
|
4.5 |
|
|
|
|
|
In millions of euros |
||||
SHARES IN IMMATERIAL ASSOCIATES
The profit from associates that are individually immaterial to voestalpine’s Interim Consolidated Financial Statements are included using the equity method. This information relates to the interests of the voestalpine Group in associates and is broken down as follows:
|
|
04/01– |
|
04/01– |
|---|---|---|---|---|
|
|
|
|
|
Group share of |
|
|
|
|
Profit after tax |
|
16.2 |
|
13.0 |
Other comprehensive income |
|
0.7 |
|
–0.7 |
Comprehensive income |
|
16.9 |
|
12.3 |
|
|
|
|
|
Carrying amount, immaterial associates |
|
163.8 |
|
168.9 |
|
|
|
|
|
In millions of euros |
||||