D.13. Deferred taxes
The tax effects of temporary differences, tax losses carried forward, and tax credits that result in the recognition of deferred tax assets and deferred tax liabilities include the following items:
|
|
Deferred tax assets |
|
Deferred tax liabilities |
||||
---|---|---|---|---|---|---|---|---|
|
|
03/31/2024 |
|
03/31/2025 |
|
03/31/2024 |
|
03/31/2025 |
|
|
|
|
|
|
|
|
|
Non-current assets |
|
138.7 |
|
123.7 |
|
225.4 |
|
207.5 |
Current assets |
|
86.5 |
|
80.4 |
|
160.6 |
|
150.3 |
Non-current liabilities |
|
212.0 |
|
201.3 |
|
61.5 |
|
71.5 |
Current liabilities |
|
96.3 |
|
87.6 |
|
32.2 |
|
40.3 |
Losses carried forward |
|
45.8 |
|
29.1 |
|
0.0 |
|
0.0 |
|
|
579.3 |
|
522.1 |
|
479.7 |
|
469.6 |
|
|
|
|
|
|
|
|
|
Intercompany profit elimination (netted) |
|
22.9 |
|
22.4 |
|
0.0 |
|
0.0 |
Hidden reserves (netted) |
|
0.0 |
|
0.0 |
|
65.2 |
|
68.6 |
Other |
|
13.2 |
|
11.1 |
|
9.6 |
|
14.1 |
Netting of deferred taxes owed to the same tax authority |
|
–469.9 |
|
–454.0 |
|
–469.9 |
|
–454.0 |
Net deferred taxes |
|
145.5 |
|
101.6 |
|
84.6 |
|
98.3 |
|
|
|
|
|
|
|
|
|
In millions of euros |
Deferred taxes are calculated using the currently applicable tax rates. For the calculation of deferred taxes of Austrian companies, the tax rate is 23.0%.
Deferred tax assets on loss carryforwards in the amount of EUR 29.1 million (March 31, 2024: EUR 45.8 million) were recognized. As of March 31, 2025, unused tax losses of approximately EUR 1,536.3 million (corporate income tax) (March 31, 2024: approximately EUR 1,174.6 million), for which no deferred tax asset has been recognized, are available. Approximately EUR 245.7 million (March 31, 2024: approximately EUR 254.1 million) in tax loss carryforwards (corporate income tax) can only be used for a limited time.
No deferred tax assets were recognized for deductible temporary differences in the amount of EUR 17.4 million.
Deferred tax assets of EUR 19.7 million (March 31, 2024: EUR 62.5 million)—which are instrumental to the recognition of future taxable income in excess of the effects on earnings from the reversal of taxable temporary differences—were recognized for Group companies that incurred a tax loss in the reporting period or previous business year. The recognized amount is based on the tax-related planning for the respective company or tax group.
No deferred tax liabilities are shown for EUR 2,035.7 million (March 31, 2024: EUR 2,110.1 million) in taxable temporary differences from equity investments in subsidiaries, joint ventures, and associates, because the parent company can control the timing of the reversal of the temporary differences, and because no reversal of the temporary differences is expected for the foreseeable future.
The change in the difference between deferred tax assets and deferred tax liabilities amounts to EUR –57.6 million (March 31, 2024: EUR –31.2 million). This essentially corresponds to the deferred tax expense of EUR –35.8 million (March 31, 2024: deferred tax expense of EUR –49.6 million); to the change in deferred tax assets recognized in other comprehensive income in the amount of EUR –12.4 million (March 31, 2024: EUR 18.8 million); to the change in deferred taxes due to differences from foreign currency translation in the amount of EUR –4.4 million (March 31, 2024: EUR 1.1 million); and the change in deferred taxes from first-time consolidations and deconsolidations in the amount of EUR –4.9 million (March 31, 2024: EUR –1.3 million).
Additional disclosures pursuant to IAS 12.81 (ab):
|
|
Change 2023/24 |
|
03/31/2024 |
|
Change 2024/25 |
|
03/31/2025 |
---|---|---|---|---|---|---|---|---|
|
|
|
|
|
|
|
|
|
Deferred taxes on actuarial gains/losses |
|
15.0 |
|
131.8 |
|
–10.2 |
|
121.6 |
Deferred taxes on cash flow hedges |
|
3.8 |
|
5.5 |
|
–2.2 |
|
3.3 |
Total of deferred taxes recognized in other comprehensive income |
|
18.8 |
|
137.3 |
|
–12.4 |
|
124.9 |
|
|
|
|
|
|
|
|
|
In millions of euros |