The business activities of OÖ Landesholding GmbH and Energie AG Group in the telecommunications sector were consolidated during the 2020/2021 fiscal year. The aim of consolidation is to expand and provide comprehensive broadband internet in Upper Austria as well as to harness synergy effects.The business activities of OÖ Landesholding GmbH and Energie AG Group in the telecommunications sector were consolidated during the reporting period.
As of 30 September 2021, the operational unit “Fiber to the home” (FTTH) was recognised in the item “Non-current assets held for sale” (Holding & Services Segment).
This operational unit was spun out into Breitband Oberösterreich Infrastruktur GmbH (formerly: OÖ Breitband Infrastruktur GmbH) as planned. The interest held in Breitband Oberösterreich Infrastruktur GmbH was transferred to BBOÖ Breitband Oberösterreich GmbH (formerly: Fiber Service OÖ GmbH), a subsidiary of OÖ Landesholding GmbH. BBOÖ Breitband Oberösterreich GmbH operates a company in the telecommunications sector. As a result of the restructuring, Energie AG Oberösterreich received a participating interest of 50% in BBOÖ Breitband Oberösterreich GmbH.
The Consolidated Financial Statements as of 30 September 2022 reports earnings from the disposal of EUR 37.0 million, which were determined in accordance with IAS 28.28, in the item “Other operating income”. The participating interest in BBOÖ Breitband Oberösterreich GmbH constitutes a joint venture as per IFRS 11 and is measured using the equity method. As of 30 September 2022, the carrying amount measured using the equity method was EUR 38.4 million.