D.9. Property, plant and equipment
|
|
Land, land rights, and buildings |
|
Plant and equipment |
|
Fixtures and fittings |
|
Advance payments and plant under construction |
|
Total |
|---|---|---|---|---|---|---|---|---|---|---|
|
|
|
|
|
|
|
|
|
|
|
Gross carrying amount |
|
4,292.9 |
|
12,617.1 |
|
1,590.1 |
|
807.6 |
|
19,307.7 |
Accumulated depreciation and impairment |
|
−2,174.0 |
|
−9,905.8 |
|
−1,189.0 |
|
−3.7 |
|
−13,272.5 |
Reclassification of assets held for sale |
|
−40.1 |
|
−22.5 |
|
−7.3 |
|
0.0 |
|
−69.9 |
Carrying amount as of April 1, 2024 |
|
2,078.8 |
|
2,688.8 |
|
393.8 |
|
803.9 |
|
5,965.3 |
|
|
|
|
|
|
|
|
|
|
|
Gross carrying amount |
|
4,450.0 |
|
13,129.5 |
|
1,644.0 |
|
951.5 |
|
20,175.0 |
Accumulated depreciation and impairment |
|
−2,298.1 |
|
−10,261.7 |
|
−1,241.7 |
|
−7.1 |
|
−13,808.6 |
Carrying amount as of March 31, 2025 |
|
2,151.9 |
|
2,867.8 |
|
402.3 |
|
944.4 |
|
6,366.4 |
|
|
|
|
|
|
|
|
|
|
|
Gross carrying amount |
|
4,537.0 |
|
13,373.0 |
|
1,677.7 |
|
1,226.0 |
|
20,813.7 |
Accumulated depreciation and impairment |
|
−2,391.4 |
|
−10,544.2 |
|
−1,275.3 |
|
−3.6 |
|
−14,214.5 |
Reclassification of assets held for sale |
|
−4.1 |
|
−4.9 |
|
−0.4 |
|
−0.1 |
|
−9.5 |
Carrying amount as of March 31, 2026 |
|
2,149.7 |
|
2,833.7 |
|
402.8 |
|
1,222.5 |
|
6,608.7 |
|
|
|
|
|
|
|
|
|
|
|
In millions of euros |
||||||||||
The reconciliation of the carrying amounts of property, plant and equipment for the periods presented in the Consolidated Financial Statements as of March 31, 2026, is as follows:
|
|
Land, land rights, and buildings |
|
Plant and equipment |
|
Fixtures and fittings |
|
Advance payments and plant under construction |
|
Total |
|---|---|---|---|---|---|---|---|---|---|---|
|
|
|
|
|
|
|
|
|
|
|
Carrying amount as of April 1, 2024 |
|
2,078.8 |
|
2,688.8 |
|
393.8 |
|
803.9 |
|
5,965.3 |
|
|
|
|
|
|
|
|
|
|
|
Changes in the scope of consolidation |
|
25.4 |
|
6.6 |
|
0.7 |
|
8.0 |
|
40.7 |
Additions |
|
114.2 |
|
349.6 |
|
112.0 |
|
579.4 |
|
1,155.2 |
Transfers |
|
84.0 |
|
335.8 |
|
11.4 |
|
−440.2 |
|
−9.0 |
Disposals |
|
−18.0 |
|
−17.9 |
|
−4.3 |
|
−5.0 |
|
−45.2 |
Depreciation |
|
−127.4 |
|
−488.0 |
|
−109.7 |
|
0.0 |
|
−725.1 |
Impairment losses |
|
−1.2 |
|
−2.51 |
|
−1.1 |
|
0.0 |
|
−4.81 |
Net exchange differences |
|
−3.9 |
|
−4.6 |
|
−0.5 |
|
−1.7 |
|
−10.7 |
Carrying amount as of March 31, 2025 |
|
2,151.9 |
|
2,867.8 |
|
402.3 |
|
944.4 |
|
6,366.4 |
|
|
|
|
|
|
|
|
|
|
|
Changes in the scope of consolidation |
|
0.0 |
|
0.6 |
|
−0.1 |
|
0.0 |
|
0.5 |
Additions |
|
90.8 |
|
222.5 |
|
100.4 |
|
631.2 |
|
1,044.9 |
Transfers |
|
62.5 |
|
255.0 |
|
20.8 |
|
−348.3 |
|
−10.0 |
Disposals |
|
−5.2 |
|
−2.7 |
|
−8.5 |
|
−0.3 |
|
−16.7 |
Depreciation |
|
−127.3 |
|
−485.3 |
|
−109.9 |
|
0.0 |
|
−722.5 |
Impairment losses |
|
0.0 |
|
−11.3 |
|
−0.6 |
|
0.0 |
|
−11.9 |
Reclassification of assets held for sale |
|
−4.1 |
|
−4.9 |
|
−0.4 |
|
−0.1 |
|
−9.5 |
Net exchange differences |
|
−18.9 |
|
−8.0 |
|
−1.2 |
|
−4.4 |
|
−32.5 |
Carrying amount as of March 31, 2026 |
|
2,149.7 |
|
2,833.7 |
|
402.8 |
|
1,222.5 |
|
6,608.7 |
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||
In millions of euros |
||||||||||
As of March 31, 2026, and March 31, 2025, there were no restrictions on the disposal of property, plant and equipment. Capital commitments for the purchase of property, plant and equipment amounted to EUR 773.1 million as of March 31, 2026 (March 31, 2025: EUR 780.1 million).
Borrowing costs related to qualifying assets in the amount of EUR 19.3 million (2024/25: EUR 13.0 million) were capitalized during the reporting period. The calculation was based on an average borrowing rate of 2.7% (2024/25: 3.0%).
Right-of-use assets as per IFRS 16
The Group leases mainly land, buildings, and manufacturing facilities as well as vehicle fleets, including locomotives. Most of the leases contain renewal options and rights to terminate, some of which are also stipulated in conjunction with non-cancelable lease terms.
In some cases, the Group has the option to purchase the assets at the end of the contractually agreed period.
The lease payments are typically either fixed or based on market interest rates or indices (e.g., the consumer price index (CPI)). A few leases provide for variable lease payments (e.g., usage-based leases).
The carrying amount of each class of right-of-use assets pursuant to IFRS 16, which are shown in property, plant and equipment, is as follows:
|
|
Property, plant and equipment |
|
Total |
||||
|---|---|---|---|---|---|---|---|---|
|
|
Land, land rights, and buildings |
|
Plant and equipment |
|
Fixtures and fittings |
|
|
|
|
|
|
|
|
|
|
|
Carrying amount as of April 1, 2024 |
|
311.0 |
|
10.8 |
|
42.1 |
|
363.9 |
|
|
|
|
|
|
|
|
|
Changes in the scope of consolidation |
|
3.4 |
|
0.2 |
|
0.5 |
|
4.1 |
Additions |
|
48.8 |
|
14.4 |
|
9.4 |
|
72.6 |
Transfers |
|
−65.3 |
|
−0.7 |
|
−6.6 |
|
−72.6 |
Disposals |
|
−1.3 |
|
−0.4 |
|
−0.3 |
|
−2.0 |
Depreciation |
|
−39.1 |
|
−4.6 |
|
−13.1 |
|
−56.8 |
Impairment |
|
0.0 |
|
−0.2 |
|
0.0 |
|
−0.2 |
Net exchange differences |
|
−0.6 |
|
−0.3 |
|
0.0 |
|
−0.9 |
Carrying amount as of March 31, 2025 |
|
256.9 |
|
19.2 |
|
32.0 |
|
308.1 |
|
|
|
|
|
|
|
|
|
Changes in the scope of consolidation |
|
0.0 |
|
0.0 |
|
0.0 |
|
0.0 |
Additions |
|
30.1 |
|
5.6 |
|
17.6 |
|
53.3 |
Transfers |
|
−7.1 |
|
−0.2 |
|
0.0 |
|
−7.3 |
Disposals |
|
−3.0 |
|
0.0 |
|
−4.6 |
|
−7.6 |
Depreciation |
|
−39.1 |
|
−6.0 |
|
−12.1 |
|
−57.2 |
Impairment |
|
0.0 |
|
0.0 |
|
0.0 |
|
0.0 |
Net exchange differences |
|
−1.8 |
|
0.2 |
|
0.0 |
|
−1.6 |
Carrying amount as of March 31, 2026 |
|
236.0 |
|
18.8 |
|
32.9 |
|
287.7 |
|
|
|
|
|
|
|
|
|
In millions of euros |
||||||||
Lease expenses in the consolidated income statement
|
|
2024/25 |
|
2025/26 |
|---|---|---|---|---|
|
|
|
|
|
Interest expenses for lease liabilities |
|
10.4 |
|
9.3 |
Expenses for short-term leases |
|
8.7 |
|
10.3 |
Expenses for small-ticket leases |
|
12.4 |
|
15.5 |
Expenses for variable lease payments |
|
5.6 |
|
5.4 |
|
|
|
|
|
In millions of euros |
||||
The total cash outflows for leases are EUR 102.1 million (2024/25: EUR 163.7 million). In addition to repayments, this also includes cash outflows from interest expenses, short-term leases, small-ticket leases, and variable lease payments.
The expected future variable lease payments are mainly based on a consumption or production component (particularly in the case of PPAs). Where available, historical data is used to estimate these payments; otherwise, forecasts on future developments are applied. Based on the contracts concluded as of March 31, 2026, the future variable lease payments amount to EUR 58.1 million (March 31, 2025: EUR 57.0 million). The remaining terms are mainly 4 – 25 years.
The effect of the measurement of residual value guarantees and purchase options on the carrying amount is deemed negligible.
Effect of renewal and termination options
Renewal and termination options can be exercised without the lessor’s approval. The inclusion of termination and renewal options gives the operating units of the voestalpine Group, which are responsible for utilizing the assets, a high degree of operational flexibility. The resulting flexibility, and thus the range of potential future lease payments not yet recognized in the statement of financial position, is significant. voestalpine generally assumes that renewal options will be exercised.
As regards the maturity analysis of lease liabilities, see Note D.21. Financial liabilities.
Reconciliation of depreciation, amortization, and impairment of property, plant and equipment, intangible assets and other non-current assets by functional classification
|
|
2024/25 |
|
2025/26 |
|---|---|---|---|---|
|
|
|
|
|
Cost of sales |
|
653.4 |
|
646.3 |
Distribution costs |
|
41.7 |
|
44.9 |
Administrative expenses |
|
46.4 |
|
38.6 |
Other operating expenses |
|
149.9 |
|
32.3 |
|
|
891.4 |
|
762.1 |
|
|
|
|
|
In millions of euros |
||||