D.19. Provisions
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Balance as of 04/01/2024 |
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Changes in the scope of consolidation |
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Net exchange differences |
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Use |
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Reversals |
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Transfers |
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Additions |
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Balance as of 03/31/2025 |
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Non-current provisions |
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Other personnel expenses |
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4.8 |
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0.0 |
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–0.1 |
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–1.0 |
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–0.2 |
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0.0 |
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0.8 |
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4.3 |
Warranties and other risks |
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9.2 |
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0.0 |
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0.0 |
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–6.2 |
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0.0 |
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5.2 |
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4.1 |
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12.3 |
Other non-current provisions |
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48.2 |
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0.0 |
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–1.0 |
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–2.9 |
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–1.0 |
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0.0 |
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2.9 |
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46.2 |
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62.2 |
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0.0 |
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–1.1 |
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–10.1 |
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–1.2 |
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5.2 |
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7.8 |
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62.8 |
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Current provisions |
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Unused vacation entitlements |
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169.1 |
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0.0 |
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–0.2 |
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–118.9 |
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–0.4 |
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0.3 |
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121.9 |
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171.8 |
Other personnel expenses |
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235.4 |
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0.0 |
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–1.0 |
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–191.1 |
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–7.8 |
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0.1 |
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237.7 |
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273.3 |
Warranties and other risks |
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69.9 |
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0.0 |
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0.1 |
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–19.3 |
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–9.9 |
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–5.2 |
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41.2 |
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76.8 |
Onerous contracts |
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33.9 |
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0.0 |
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0.0 |
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–17.7 |
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–1.2 |
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0.0 |
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47.6 |
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62.6 |
Other current provisions |
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414.2 |
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2.6 |
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–0.8 |
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–263.2 |
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–11.3 |
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0.0 |
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241.5 |
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383.0 |
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922.5 |
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2.6 |
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–1.9 |
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–610.2 |
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–30.6 |
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–4.8 |
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689.9 |
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967.5 |
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984.7 |
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2.6 |
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–3.0 |
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–620.3 |
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–31.8 |
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0.4 |
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697.7 |
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1,030.3 |
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In millions of euros |
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The provisions for personnel expenses mainly include incentive payments and bonuses. Provisions for warranties and other risks, and for onerous contracts relate to current operating activities. Other provisions mainly consist of provisions for sales commission; litigation, legal, and consulting fees; and environmental protection obligations. Other current provisions include environmental protection obligations amounting to EUR 205.3 million (2023/24: EUR 225.5 million), which relate almost exclusively to CO2 allowances.
The total expense for CO2 certificates in the past business year 2024/25 amounted to EUR 157.9 million (2023/24: EUR 231.6 million) and was recognized in the cost of sales.
The item current provisions for other personnel expenses includes provisions for restructuring measures amounting to EUR 53.2 million in the business year 2024/25. These relate to restructuring measures in the Metal Forming Division, particularly at the Birkenfeld and Dettingen sites within the Automotive Components CGU, as well as in the High Performance Metals Division. The provisions were recognized for personnel measures planned as part of the restructuring and primarily relate to severance payments and termination benefits (social compensation plan) for employees who will no longer be employed.
To the extent relevant, voestalpine set up provisions as of the March 31, 2025, reporting date for claims arising from antitrust proceedings.
Increases in provisions totaling EUR 0.6 million (2023/24: EUR 1.5 million) are included in these Consolidated Financial Statements due to both accrued interest and changes in the discount rate.