Annual Report 2005/06 - voestalpine

Consolidated Financial Statements
C. Companies included in the consolidation
The scope of consolidation (see appendix to
the notes “Group companies“) is established
in accordance with IFRS. In addition to the
financial statements of voestalpine AG, the
consolidated financial statements also incorporate
the financial statements of entities
controlled by voestalpine AG (and their
subsidiaries) and companies over which
significant influence is exercised (associates).
Subsidiaries are entities controlled by the
Group. Control exists when the Group has the
direct or indirect potential to govern the
financial and operating policies of an entity
so as to obtain benefits from its activities. The
financial statements of subsidiaries are included
in the consolidated financial statements
from the date that control commences
until the date that control ceases.
Associates are those entities over which the
Group has significant influence without
having control over the financial and operating
policies. The consolidated financial
statements include these entities using
proportionate consolidation or the equity
method of consolidation, from the date that
significant influence com-mences until the
date that significant influence ceases. The
Group’s investments in associates are
reported in the appendix to the notes “Group
companies”.
The following table shows the pro-rata values
for entities included in the financial statements
by proportionate consolidation:
03/31/2006 03/31/2005
Non-current assets 21.1 23.4
Current assets 117.9 50.8
139.0 74.2
Equity 78.7 34.6
Non-current liabilities 10.1 8.0
Current liabilities 50.2 31.6
139.0 74.2
2005/06 2004/05
Revenue 251.6 142.7
Profit of the period 72.6 8.9
In millions of euros
Annual Report 2005/06
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