General information/accounting policies
These Interim Consolidated Financial Statements of voestalpine AG as of September 30, 2025, for the first half of the business year 2025/26 were prepared in accordance with the International Financial Reporting Standards (IFRS) – as adopted by the European Union – pursuant to IAS 34, Interim Financial Reporting, as well as the interpretations of the International Financial Reporting Interpretations Committee (IFRS-IC), that are mandatory for application in 2025. The accounting policies are unchanged from the Consolidated Financial Statements for the business year 2024/25, except for the changes described below.
The following new and revised Standards and Interpretations were adopted for the first time in the business year 2025/26:
The amendments and new versions of Standards and Interpretations did not have a material effect on the voestalpine Group’s net assets, financial position, or results of operations.
Further information on the other principles of preparation is provided in the Consolidated Financial Statements as of March 31, 2025, which form the basis of these Interim Consolidated Financial Statements.
The Interim Consolidated Financial Statements are presented in millions of euros (the functional currency of the parent company). The use of automated calculation systems may result in rounding differences that affect amounts and percentages.
Unless otherwise stated, comparative information relates to the first half of the business year 2024/25 (reporting date: September 30, 2024).
The present Interim Consolidated Financial Statements have not been audited or reviewed by an auditor.
CHANGES TO THE PRESENTATION OF THE CONSOLIDATED STATEMENT OF CASH FLOWS
For a clearer presentation, and to enhance the informational value, the presentation and structure of cash flows from operating activities in the statement of cash flows have been adjusted for the business year 2025/26.
Profit before tax now serves as the starting point for cash flows from operating activities instead of profit after tax as was previously the case.
Interest received, interest paid, taxes paid, and dividends received are now presented directly within the structure of the consolidated statement of cash flows, rather than as “thereof”-items within cash flows from operating activities. Furthermore, non-cash expenses and income as well as deposits and disbursements not recognized in the income statement are now presented disaggregated in the consolidated statement of cash flows.
The comparative amounts have been reclassified. The following table shows the reconciliation of cash flows from operating activities for the comparative period of the first half of 2024/25, reconciling the originally reported figures with the retrospectively adjusted figures resulting from the change in presentation.
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|
04/01– |
|
04/01– |
|
04/01– |
|---|---|---|---|---|---|---|
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|
Values |
|
Reclassification |
|
Values retrospectively adjusted |
|
|
|
|
|
|
|
Operating activities |
|
|
|
|
|
|
Profit before tax |
|
|
|
248.5 |
|
248.5 |
Profit after tax |
|
182.9 |
|
−182.9 |
|
|
Depreciation, amortization, impairments and reversals of impairments, fair value adjustments |
|
|
|
378.4 |
|
378.4 |
Result from the disposal of property, plant and equipment, intangible assets and financial assets |
|
|
|
−0.2 |
|
−0.2 |
Net interest income |
|
|
|
92.8 |
|
92.8 |
Share of profit of entities consolidated according to the equity method and dividend income from other equity investments |
|
|
|
−10.0 |
|
−10.0 |
Changes in pensions and other employee obligations and |
|
|
|
−15.9 |
|
−15.9 |
(Other) non-cash expenses and income, deposits and disbursements not recognized in income statement |
|
401.4 |
|
−385.7 |
|
15.7 |
Interest received |
|
|
|
23.0 |
|
23.0 |
Interest paid |
|
|
|
−101.1 |
|
−101.1 |
Taxes paid |
|
|
|
−161.3 |
|
−161.3 |
Dividends received |
|
|
|
10.9 |
|
10.9 |
Change in inventories |
|
28.9 |
|
0.0 |
|
28.9 |
Change in receivables and liabilities |
|
−65.6 |
|
7.3 |
|
−58.3 |
Change in current provisions |
|
−202.0 |
|
96.2 |
|
−105.8 |
Cash flows from operating activities |
|
345.6 |
|
0.0 |
|
345.6 |
|
|
|
|
|
|
|
In millions of euros |
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- From investing activities: outflow/inflow of liquid assets from investments/disinvestments;
- From operating activities: outflow/inflow of liquid assets not affected by investment, disinvestment, or financing activities.
- From financing activities: outflow/inflow of liquid assets from capital expenditures and capital contributions.