The consolidated Group (see “Investments” appendix to the notes) is established in accordance with IFRS. In addition to the annual financial statements of voestalpine AG, the consolidated financial statements also include the financial statements of entities controlled by voestalpine AG (and its subsidiaries).
Subsidiaries are entities controlled by the Group. Control exists when the Group has the power, directly or indirectly, to govern the financial and operating policies of an entity so as to obtain benefits from its activities. Joint ventures are included in the consolidated financial statements using proportionate consolidation. The annual financial statements of subsidiaries and joint ventures are included in the consolidated financial statements from the acquisition date until disposal date.
Associates are entities over which the Group has significant influence without having control over the financial and operating policies. The annual financial statements of associates are included in the consolidated financial statements using the equity method from the acquisition date until disposal date. The Group’s associates are listed in the “Investments” appendix to the notes.
The following table shows the proportionate amounts included in the consolidated financial statements by proportionate consolidation:
| (XLS:) Download |
|
|
|
03/31/2012 |
|
03/31/2013 |
|
|
|
|
|
|
|
Non-current assets |
|
25.7 |
|
28.6 |
|
Current assets |
|
95.4 |
|
100.4 |
|
|
|
121.1 |
|
129.0 |
|
|
|
|
|
|
|
Equity |
|
29.0 |
|
80.0 |
|
Non-current provisions and liabilities |
|
11.5 |
|
13.1 |
|
Current provisions and liabilities |
|
80.6 |
|
35.9 |
|
|
|
121.1 |
|
129.0 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
2011/12 |
|
2012/13 |
|
|
|
|
|
|
|
Revenue |
|
298.6 |
|
295.2 |
|
Cost of sales |
|
225.5 |
|
213.3 |
|
Profit for the period |
|
46.9 |
|
53.6 |
|
|
|
|
|
|
|
|
|
In millions of euros | ||
The following table shows the values (100%) for entities included in the consolidated financial statements using the equity method:
| (XLS:) Download |
|
|
|
03/31/2012 |
|
03/31/2013 |
|
|
|
|
|
|
|
Non-current assets |
|
342.6 |
|
354.0 |
|
Current assets |
|
760.0 |
|
689.3 |
|
|
|
1,102.6 |
|
1,043.3 |
|
|
|
|
|
|
|
Equity |
|
394.8 |
|
408.8 |
|
Non-current provisions and liabilities |
|
96.2 |
|
103.1 |
|
Current provisions and liabilities |
|
611.6 |
|
531.4 |
|
|
|
1,102.6 |
|
1,043.3 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
2011/12 |
|
2012/13 |
|
|
|
|
|
|
|
Revenue |
|
2,285.8 |
|
2,433.2 |
|
Profit for the period |
|
53.1 |
|
47.9 |
|
|
|
|
|
|
|
|
|
In millions of euros | ||
The scope of consolidated financial statements changed as follows during the business year:
| (XLS:) Download |
|
|
|
Full |
|
Proportionate |
|
Equity |
|
|
|
|
|
|
|
|
|
As of April 1, 2012 |
|
278 |
|
2 |
|
12 |
|
Acquisitions |
|
15 |
|
|
|
|
|
Change in consolidation method |
|
|
|
|
|
|
|
Acquisitions |
|
7 |
|
|
|
|
|
Disposals |
|
|
|
|
|
|
|
Reorganizations |
|
–8 |
|
|
|
|
|
Divestments or disposals |
|
–1 |
|
|
|
|
|
As of March 31, 2013 |
|
291 |
|
2 |
|
12 |
|
Of which foreign companies |
|
235 |
|
0 |
|
6 |
The two proportionately consolidated entities are voestalpine Tubulars GmbH and voestalpine Tubulars GmbH & Co KG that are controlled jointly with NOV Grant Prideco.
The following entities were deconsolidated during the business year 2012/13:
| (XLS:) Download |
|
Name of entity |
|
Date of deconsolidation |
|
|
|
|
|
Full consolidation in the previous year |
|
|
|
Breuckmann GmbH |
|
June 30, 2012 |
|
|
|
|
|
Reorganization |
|
|
|
voestalpine Profilform GmbH |
|
April 1, 2012 |
|
Avesta Welding LLC |
|
April 1, 2012 |
|
Uddeholm Machining Aktiebolag |
|
April 1, 2012 |
|
VAE Geschäftsführung (Deutschland) GmbH |
|
April 1, 2012 |
|
VAE Holding (Deutschland) GmbH |
|
April 1, 2012 |
|
voestalpine Stahl Donawitz GmbH & Co KG |
|
April 1, 2012 |
|
WBG Weichenwerk Brandenburg GmbH |
|
April 1, 2012 |
|
Buderus Edelstahl Schmiedetechnik GmbH |
|
March 31, 2013 |
