|
|
Balance as of 04/01/2017 |
|
Changes in the scope of Consolidated Financial Statements |
|
Net exchange differences |
|
Use |
|
Reversals |
|
Transfers |
|
Additions |
|
Balance as of 03/31/2018 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Non-current provisions |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Other personnel expenses |
|
24.4 |
|
0.0 |
|
–1.7 |
|
–4.0 |
|
–0.1 |
|
0.0 |
|
3.0 |
|
21.6 |
Warranties and other risks |
|
14.6 |
|
0.0 |
|
–0.2 |
|
–2.6 |
|
–2.8 |
|
0.1 |
|
1.2 |
|
10.3 |
Other non-current provisions |
|
40.4 |
|
0.0 |
|
–1.5 |
|
–5.4 |
|
–0.4 |
|
1.0 |
|
10.6 |
|
44.7 |
|
|
79.4 |
|
0.0 |
|
–3.4 |
|
–12.0 |
|
–3.3 |
|
1.1 |
|
14.8 |
|
76.6 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Current provisions |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Unused vacation entitlements |
|
135.1 |
|
0.0 |
|
–2.9 |
|
–80.0 |
|
–0.2 |
|
0.1 |
|
93.1 |
|
145.2 |
Other personnel expenses |
|
186.3 |
|
0.0 |
|
–3.5 |
|
–152.7 |
|
–7.4 |
|
0.1 |
|
189.5 |
|
212.3 |
Warranties and other risks |
|
53.3 |
|
0.0 |
|
–1.4 |
|
–11.4 |
|
–8.8 |
|
–0.2 |
|
17.9 |
|
49.4 |
Onerous contracts |
|
54.7 |
|
0.0 |
|
–0.1 |
|
–46.1 |
|
–1.0 |
|
0.0 |
|
23.6 |
|
31.1 |
Other current provisions |
|
155.6 |
|
0.3 |
|
–2.7 |
|
–77.7 |
|
–9.7 |
|
–1.1 |
|
112.5 |
|
177.2 |
|
|
585.0 |
|
0.3 |
|
–10.6 |
|
–367.9 |
|
–27.1 |
|
–1.1 |
|
436.6 |
|
615.2 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
664.4 |
|
0.3 |
|
–14.0 |
|
–379.9 |
|
–30.4 |
|
0.0 |
|
451.4 |
|
691.8 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
In millions of euros |
||||||||||||||||
The provisions for personnel expenses mainly include bonuses. Provisions for warranties and other risks as well as onerous contracts apply to current operating activities. The other provisions mainly consist of provisions for commissions; litigation, legal, and consulting fees; and environmental protection obligations.
The amount recognized as a provision for warranties and other risks is calculated as the most reliable estimated value of the amount that would be required to settle these obligations at the reporting date. The statistical measure is the expected value, which is based on the probability of occurrence of an event according to past experience.
Provisions for onerous contracts are recognized when the earnings expected to be derived by the Group from contracts are lower than the unavoidable cost of meeting its obligations under these contracts. Before recognizing a separate provision for onerous contracts, the Group recognizes an impairment loss on the assets associated with such contracts.
The provisions recognized in the Annual Financial Statements 2016/17 in the amount of EUR 35.6 million for the anti-trust proceedings and associated actions and costs relating to railway superstructure material as well as for the closure of TSTG Schienen Technik GmbH & Co KG have been reduced to EUR 30.2 million due to the use of these provisions in the business year 2017/18.
Companies of the High Performance Metals Division of the voestalpine Group are affected by proceedings of the German Federal Cartel Office (Bundeskartellamt) that became known as of November 26, 2015, due to searches of the premises of voestalpine’s competitors. voestalpine is taking these proceedings very seriously, is cooperating with the authorities, and currently does not expect that significant fines will be imposed against voestalpine in these proceedings. No provisions were formed in this regard in the current reporting period.
In the course of the current investigations of the German Federal Cartel Office (Bundeskartellamt) against steel producers, a search was conducted in the offices of voestalpine in Linz, Austria, from September 12 to 14, 2017, for the German Federal Cartel Office. The search took place on suspicion of anti-competitive practices in the market for heavy plates. Austrian authorities took part in accordance with European legal requirements. voestalpine AG is taking these allegations very seriously and is cooperating with the authorities. No provisions were formed in this regard in the current reporting period.
Increases in provisions totaling EUR 0.7 million (2016/17: EUR 9.4 million) are included in the reporting period based on accrued interest and on changes in the discount rate.
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