D.30. Disclosures of transactions not recorded in the statement of financial position

In the voestalpine Group, trade receivables are sold monthly to various banks on a revolving basis. In this context, there are two different types of factoring agreements (as of March 31, 2025, four different types of factoring agreements existed).

Under the first type of factoring agreement, trade receivables totaling EUR 1,340.5 million (March 31, 2025: EUR 1,284.5 million) were sold to various banks. Receivables covered by credit insurance were assigned to banks in an amount corresponding to 100% of the nominal value, with the acquiring banks assuming the risk of default. Any claims arising under the credit insurance were assigned to the acquiring bank. The selling Group company only assumes liability for default up to—generally—8% (March 31, 2025: 8%) of the retention level under the credit insurance. As of the reporting date, the maximum risk associated with the liability for default was EUR 107.2 million (March 31, 2025: EUR 102.8 million). The liability for default corresponds to the theoretical maximum loss. The probability of recourse to this liability is extremely low. The fair value of this risk is assessed at EUR 0.0 million (March 31, 2025: EUR 0.1 million). The receivables are derecognized in full in accordance with the provisions of IFRS 9 due to the transfer of the material risks and opportunities as well as control to the acquiring party.

Under the second type of factoring agreement, uninsured trade receivables of EUR 321.3 million (March 31, 2025: EUR 296.3 million) were sold. The acquiring bank assumes 100% of the default risk. All receivables are fully derecognized. Except for the capitalized service fee mentioned below for the administration of the receivables, there is no ongoing commitment.

In the comparative period (business year 2024/25), two additional types of factoring agreements existed. Under the third type of factoring agreement, both insured and uninsured trade receivables in the amount of EUR 62.9 million as of March 31, 2025, were sold. Under the fourth type of factoring agreement, trade receivables amounting to EUR 19.6 million as of March 31, 2025, comprising both insured and uninsured trade receivables, were sold. These two types of factoring agreements were integrated into the first type of factoring agreement in the business year 2025/26.

Under all types of factoring agreements, payments received from customers during the period between the last sale of receivables and the reporting date are recognized on an accrual basis in current liabilities to banks).

The administration of receivables for all types of factoring contracts remains with the respective Group companies. For receivables sold, as of March 31, 2026, a total service fee of 0.15% of the sold receivables of EUR 2.5 million (March 31, 2025: EUR 2.5 million) was recognized under other provisions. The carrying amount corresponds to the fair value of the ongoing commitment.