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11. Other intangible assets

 

 

Brands

 

Other

 

Advance payments or payments in progress

 

Total

 

 

 

 

 

 

 

 

 

Gross carrying amount

 

227.6

 

1,263.9

 

56.3

 

1,547.8

Accumulated amortization and impairment

 

–25.2

 

–1,108.5

 

0.0

 

–1,133.7

Carrying amount as of April 1, 2016

 

202.4

 

155.4

 

56.3

 

414.1

 

 

 

 

 

 

 

 

 

Gross carrying amount

 

227.6

 

1,322.5

 

50.0

 

1,600.1

Accumulated amortization and impairment

 

–30.9

 

–1,149.8

 

0.0

 

–1,180.7

Carrying amount as of March 31, 2017

 

196.7

 

172.7

 

50.0

 

419.4

 

 

 

 

 

 

 

 

 

Gross carrying amount

 

227.6

 

1,349.3

 

34.9

 

1,611.8

Accumulated amortization and impairment

 

–36.6

 

–1,179.2

 

0.0

 

–1,215.8

Carrying amount as of March 31, 2018

 

191.0

 

170.1

 

34.9

 

396.0

 

 

 

 

 

 

 

 

 

In millions of euros

The “Brands” column contains brands with an indefinite useful life amounting to EUR 170.6 million. It also includes a capital market funding advantage associated with the brand name Böhler-Uddeholm. The amortization period of the capital market funding advantage is ten years.

Intangible assets with unlimited useful life

The following cash-generating units and groups of cash-generating units contain brands with indefinite useful lives:

 

 

2016/17

 

2017/18

 

 

 

 

 

High Performance Metals Division

 

155.4

 

155.4

 

 

 

 

 

Welding Consumables

 

12.6

 

12.6

Total Metal Engineering Division

 

12.6

 

12.6

 

 

 

 

 

Precision Strip

 

2.6

 

2.6

Total Metal Forming Division

 

2.6

 

2.6

 

 

 

 

 

voestalpine Group

 

170.6

 

170.6

 

 

 

 

 

In millions of euros

The period during which these trademark rights are expected to generate cash flows is not subject to a foreseeable limit. Trademark rights are therefore not subject to wear and tear and are not amortized. No impairments have arisen.

The following table shows a reconciliation of the carrying amounts of other intangible assets for the periods presented in the Consolidated Financial Statements as of March 31, 2018:

 

 

Brands

 

Other

 

Advance payments or payments in progress

 

Total

 

 

 

 

 

 

 

 

 

Carrying amount as of April 1, 2016

 

202.4

 

155.4

 

56.3

 

414.1

 

 

 

 

 

 

 

 

 

Changes in the scope of Consolidated Financial Statements

 

0.0

 

7.9

 

0.0

 

7.9

Additions

 

0.0

 

23.3

 

16.0

 

39.3

Transfers

 

0.0

 

27.0

 

–22.5

 

4.5

Disposals

 

0.0

 

0.0

 

0.0

 

0.0

Amortization

 

–5.7

 

–40.7

 

0.0

 

–46.4

Impairment

 

0.0

 

–1.7

 

0.0

 

–1.7

Net exchange differences

 

0.0

 

1.5

 

0.2

 

1.7

Carrying amount as of March 31, 2017

 

196.7

 

172.7

 

50.0

 

419.4

 

 

 

 

 

 

 

 

 

Changes in the scope of Consolidated Financial Statements

 

0.0

 

0.2

 

0.0

 

0.2

Additions

 

0.0

 

18.3

 

10.8

 

29.1

Transfers

 

0.0

 

29.3

 

–25.9

 

3.4

Disposals

 

0.0

 

–0.1

 

0.0

 

–0.1

Amortization

 

–5.7

 

–42.1

 

0.0

 

–47.8

Impairment

 

0.0

 

–3.5

 

0.0

 

–3.5

Net exchange differences

 

0.0

 

–4.7

 

0.0

 

–4.7

Carrying amount as of March 31, 2018

 

191.0

 

170.1

 

34.9

 

396.0

 

 

 

 

 

 

 

 

 

In millions of euros

The functional areas of cost of sales, distribution costs, administrative expenses, and other operating expenses may include amortization of intangible assets.

As of March 31, 2018, commitments for the acquisition of intangible assets amounted to EUR 0.2 million (March 31, 2017: EUR 1.0 million). Additions to “Advance payments or payments in progress” contain EUR 8.0 million (March 31, 2017: EUR 15.1 million) in capitalized development costs for a software project intended to map cross-company business processes and business processes that have been harmonized within the Steel Division. The carrying amount in the other intangible assets as of March 31, 2018, amounts to EUR 82.3 million (March 31, 2017: EUR 76.9 million); the expected useful life is ten years.

Impairment losses and reversal of impairment losses

In the business year 2017/18, the Metal Engineering Division recognized impairment losses of EUR 3.5 million (2016/17: EUR 0.0 million) on intangible assets under other operating expenses. Detailed information on this impairment is outlined in chapter 9. Property, plant and equipment.


About voestalpine

In its business segments, voestalpine is a globally leading technology and capital goods group with a unique combination of material and processing expertise. With its top-quality products and system solutions using steel and other metals, it is a leading partner to the automotive and consumer goods industries in Europe and to the aerospace, oil and gas industries worldwide. The voestalpine Group is also the world market leader in turnout technology, special rails, tool steel, and special sections.

Facts

50 Countries on all 5 continents
500 Group companies and locations
51,600 Employees worldwide

Earnings FY 2017/18

€ 13 Billion

Revenue

€ 2 Billion

EBITDA

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