Notes on financial instruments
Categories |
|
Financial assets measured at AC1 |
|
Hedge accounting |
|
Financial assets measured at FVTPL |
|
Total |
|---|---|---|---|---|---|---|---|---|
|
|
|
|
|
|
|
|
|
Assets 03/31/2025 |
|
|
|
|
|
|
|
|
Other financial assets, non-current |
|
3.6 |
|
0.0 |
|
62.8 |
|
66.4 |
Trade receivables, other receivables and other assets |
|
832.8 |
|
8.3 |
|
205.8 |
|
1,046.9 |
Other financial assets, current |
|
208.4 |
|
0.0 |
|
96.0 |
|
304.4 |
Cash and cash equivalents |
|
781.8 |
|
0.0 |
|
0.0 |
|
781.8 |
|
|
1,826.6 |
|
8.3 |
|
364.6 |
|
2,199.5 |
|
|
|
|
|
|
|
|
|
|
||||||||
In millions of euros |
||||||||
Categories |
|
Financial assets measured at AC1 |
|
Hedge accounting |
|
Financial assets measured at FVTPL |
|
Total |
|---|---|---|---|---|---|---|---|---|
|
|
|
|
|
|
|
|
|
Assets 09/30/2025 |
|
|
|
|
|
|
|
|
Other financial assets, non-current |
|
3.3 |
|
0.0 |
|
63.6 |
|
66.9 |
Trade receivables, other receivables and other assets |
|
852.9 |
|
17.2 |
|
179.6 |
|
1,049.7 |
Other financial assets, current |
|
0.0 |
|
0.0 |
|
103.8 |
|
103.8 |
Cash and cash equivalents |
|
931.1 |
|
0.0 |
|
0.0 |
|
931.1 |
|
|
1,787.3 |
|
17.2 |
|
347.0 |
|
2,151.5 |
|
|
|
|
|
|
|
|
|
|
||||||||
In millions of euros |
||||||||
Categories |
|
Financial liabilities measured at AC |
|
Hedge accounting |
|
Financial liabilities measured at FVTPL |
|
Total |
||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|
|
|
Carrying amount |
|
Fair value |
|
Carrying amount |
|
Carrying amount |
|
Carrying amount |
|
Fair value |
|
|
|
|
|
|
|
|
|
|
|
|
|
Liabilities 03/31/2025 |
|
|
|
|
|
|
|
|
|
|
|
|
Financial liabilities, non-current |
|
1,911.4 |
|
1,908.0 |
|
0.0 |
|
0.0 |
|
1,911.4 |
|
1,908.0 |
Financial liabilities, current |
|
843.7 |
|
842.7 |
|
0.0 |
|
0.0 |
|
843.7 |
|
842.7 |
Trade and other payables1 |
|
1,907.1 |
|
1,907.1 |
|
22.6 |
|
11.2 |
|
1,940.9 |
|
1,940.9 |
Liabilities from supplier finance arrangements1 |
|
729.5 |
|
729.5 |
|
0.0 |
|
0.0 |
|
729.5 |
|
729.5 |
Total |
|
5,391.7 |
|
5,387.3 |
|
22.6 |
|
11.2 |
|
5,425.5 |
|
5,421.1 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||
In millions of euros |
||||||||||||
Categories |
|
Financial liabilities measured at AC |
|
Hedge accounting |
|
Financial liabilities measured at FVTPL |
|
Total |
||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|
|
|
Carrying amount |
|
Fair value |
|
Carrying amount |
|
Carrying amount |
|
Carrying amount |
|
Fair value |
|
|
|
|
|
|
|
|
|
|
|
|
|
Liabilities 09/30/2025 |
|
|
|
|
|
|
|
|
|
|
|
|
Financial liabilities, non-current |
|
1,249.5 |
|
1,265.1 |
|
0.0 |
|
0.0 |
|
1,249.5 |
|
1,265.1 |
Financial liabilities, current |
|
1,273.9 |
|
1,270.7 |
|
0.0 |
|
0.0 |
|
1,273.9 |
|
1,270.7 |
Trade and other payables1 |
|
1,712.9 |
|
1,712.9 |
|
6.4 |
|
4.6 |
|
1,723.9 |
|
1,723.9 |
Liabilities from supplier finance arrangements1 |
|
806.8 |
|
806.8 |
|
0.0 |
|
0.0 |
|
806.8 |
|
806.8 |
Total |
|
5,043.1 |
|
5,055.5 |
|
6.4 |
|
4.6 |
|
5,054.1 |
|
5,066.5 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||
In millions of euros |
||||||||||||
The financial liabilities measured at amortized cost, excluding bonds issued, fall under Level 2. Valuation is performed according to the discounted cash flow method, whereby the input parameters for the calculation of the fair values are the foreign exchange rates, interest rates, and credit spreads observable on the market. Using the input parameters, the fair values are calculated by discounting estimated future cash flows at market interest rates.
Bonds issued are measured using Level 1 inputs based on the quoted price as of the reporting date.
The table below analyzes regular fair value measurements of financial assets and financial liabilities. These measurements are based on a fair value hierarchy that categorizes the inputs included in the valuation methods used to measure fair value into three levels. The three levels are defined as follows:
Level 1 |
|
Comprises quoted prices (unadjusted) in active markets for identical assets or liabilities that the entity can access at the measurement date. |
|---|---|---|
Level 2 |
|
Comprises inputs other than the quoted prices included in Level 1 that are observable for the asset or liability, either directly or indirectly. |
Level 3 |
|
Comprises unobservable inputs for the asset or liability. |
|
|
Level 1 |
|
Level 2 |
|
Level 3 |
|
Total |
|---|---|---|---|---|---|---|---|---|
03/31/2025 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Financial assets |
|
|
|
|
|
|
|
|
Other financial assets, non-current |
|
14.1 |
|
0.0 |
|
48.7 |
|
62.8 |
Receivables from derivatives – hedge accounting |
|
0.0 |
|
8.3 |
|
0.0 |
|
8.3 |
Trade receivables, other receivables and other assets |
|
0.0 |
|
9.8 |
|
196.0 |
|
205.8 |
Other financial assets, current |
|
96.0 |
|
0.0 |
|
0.0 |
|
96.0 |
|
|
110.1 |
|
18.1 |
|
244.7 |
|
372.9 |
|
|
|
|
|
|
|
|
|
Financial liabilities |
|
|
|
|
|
|
|
|
Liabilities from derivatives – hedge accounting |
|
0.0 |
|
22.6 |
|
0.0 |
|
22.6 |
Trade and other payables |
|
0.0 |
|
11.2 |
|
0.0 |
|
11.2 |
|
|
0.0 |
|
33.8 |
|
0.0 |
|
33.8 |
|
|
|
|
|
|
|
|
|
09/30/2025 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Financial assets |
|
|
|
|
|
|
|
|
Other financial assets, non-current |
|
14.9 |
|
0.0 |
|
48.7 |
|
63.6 |
Receivables from derivatives – hedge accounting |
|
0.0 |
|
17.2 |
|
0.0 |
|
17.2 |
Trade receivables, other receivables and other assets |
|
0.0 |
|
9.1 |
|
170.5 |
|
179.6 |
Other financial assets, current |
|
103.8 |
|
0.0 |
|
0.0 |
|
103.8 |
|
|
118.7 |
|
26.3 |
|
219.2 |
|
364.2 |
|
|
|
|
|
|
|
|
|
Financial liabilities |
|
|
|
|
|
|
|
|
Liabilities from derivatives – hedge accounting |
|
0.0 |
|
6.4 |
|
0.0 |
|
6.4 |
Trade and other payables |
|
0.0 |
|
4.6 |
|
0.0 |
|
4.6 |
|
|
0.0 |
|
11.0 |
|
0.0 |
|
11.0 |
|
|
|
|
|
|
|
|
|
In millions of euros |
||||||||
The derivative transactions (Level 2) are measured using the discounted cash flow method by determining the value that would be realized if the hedging position were closed out (liquidation method). The observable currency exchange rates and raw materials prices as well as interest rates are the input for the calculation of fair values. Fair values are calculated based on the inputs by discounting expected future cash flows at market interest rates.
The voestalpine Group recognizes reclassifications between different levels of the fair value hierarchy as of the end of the reporting period in which the change occurred. There were no reclassifications in the business year 2024/25, nor from April 1, 2025, through September 30, 2025.
The table below presents the reconciliation of Level 3 financial assets measured at fair value between the opening balance and the closing balance, as follows:
|
|
04/01– |
|
04/01– |
|---|---|---|---|---|
|
|
|
|
|
Opening balance |
|
46.6 |
|
48.7 |
|
|
|
|
|
Total of gains/losses recognized in the income statement: |
|
|
|
|
Finance costs/Finance income |
|
0.0 |
|
0.0 |
Closing balance |
|
46.6 |
|
48.7 |
|
|
|
|
|
In millions of euros |
||||
Level 3 includes the equity investment in Energie AG Oberösterreich that is measured at fair value. The fair value of this entity can be reliably determined based on the valuation report that is prepared once a year for Energie AG Oberösterreich as a whole, taking into account all relevant information.
Significant sensitivities in the determination of the fair values may result from changes in the underlying market data of comparable entities and the input factors used to determine the net present value (particularly discount rates, non-current forecasts, plan data, etc.).
|
|
04/01– |
|
04/01– |
|---|---|---|---|---|
|
|
|
|
|
Opening balance |
|
172.6 |
|
196.0 |
Disposals |
|
−172.6 |
|
−196.0 |
Additions |
|
184.8 |
|
170.5 |
Closing balance |
|
184.8 |
|
170.5 |
|
|
|
|
|
In millions of euros |
||||
The receivables in this portfolio are sold monthly on a rolling basis as part of the Group’s factoring programs. The measurement gains or losses allocable to this portfolio are of secondary significance.
The credit risk associated with a particular debtor is the key factor in the fair value determination of the portfolio entitled “Trade and other receivables held for factoring.” Any increase/decrease by 1 % in the established default rates thus would change the fair value of this portfolio at most in the same amount; as a rule, however, the fair value change is disproportionately low, because credit insurance has been purchased for significant portions of the portfolio.
- 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.