Changes in the scope of consolidation

The changes made in the scope of consolidation during the first half of the business year 2025/26 were as follows:

The following fully consolidated entities were deconsolidated during the first half of the business year 2025/26:

At the beginning of August 2025, the sale of the Camtec Group business unit in the Steel Division was completed. voestalpine Camtec specializes in the production of cams and maintenance-free sliding elements made of brass, copper, and aluminum, and primarily supplies automotive manufacturers and suppliers, as well as the mechanical engineering industries. The decision to sell the business unit was driven by rising energy and personnel costs, combined with a sharp increase in price pressure from non-European competitors, particularly from China and India. In the business year 2024/25 sales amounted to approximately EUR 14.0 million. The 47 affected employees were offered the opportunity to transfer to other voestalpine business units in Linz.

The following table shows the main groups of assets and liabilites disposed of as part of the share deal, as well as the result and the net cash inflow:

Due to liquidation, OOO voestalpine Bohler Welding Russia, Russia, and voestalpine Signaling China Co. Ltd., China, were deconsolidated at the beginning of June 2025, and Uddeholm Eiendom AS (in liquidation), Norway, was deconsolidated in July 2025. The effects of these disposals on the Interim Consolidated Financial Statements are considered immaterial.

The following entities are included in the Interim Consolidated Financial Statements for the first time in the first half of the business year 2025/26:

The additions of fully consolidated entities to the scope of consolidation comprise one acquisition and one company included for the first time.

At the beginning of July 2025, voestalpine Turnout Technology UK Limited, Great Britain, a company of the Metal Engineering Division, acquired control of 100 % of the shares in HIRD Rail Services Limited, Doncaster, Great Britiain, which employs around 15 people.

With the acquisition of HIRD Rail Services Limited, the Railway Systems business unit has taken another step towards strengthening its market position in the United Kingdom. HIRD Rail Services Limited is a leading supplier of high-quality insulated block joints for Network Rail (British rail network) and is very well positioned in this segment of the British railway market. Further growth potential arises from expanding regional sales areas for its products and supplying system solutions.

The acquisition has the following impact on the Interim Consolidated Financial Statements:

The goodwill of EUR 1.0 million arises from the company’s earnings potential. In accordance with IFRS, this difference cannot be allocated to individually capitalizable items and is allocated to the goodwill-carrying Railway Systems unit. It is not expected that any portion of the recognized goodwill will be deductible for corporate income tax purposes.

Since initial consolidation, the acquisition has contributed revenue of EUR 1.1 million to consolidated revenue. Its share of the Group’s profit after tax for the same period amounted to EUR 0.0 million. If the company had been consolidated as of April 1, 2025, the Group’s reported consolidated revenue would have been approximately EUR 1.7 million higher and its profit after tax approximately EUR 0.2 million higher.

As part of the first-time full consolidation of HIRD Rail Services Limited, trade receivables with fair values of EUR 0.7 million (gross carrying amount: EUR 0.7 million) were recognized. Receivables expected to be irrecoverable are considered immaterial.