3. Scope of consolidation
3.1. Principles
Subsidiaries
All material entities that are directly or indirectly controlled by Energie AG Oberösterreich (subsidiaries) are fully consolidated according to IFRS 10 and included in the Consolidated Financial Statements. Control exists when the investor is exposed or has rights to variable returns from its involvement with the investee and has the ability to use its power over the investee to influence the amount of the investor’s returns. In all cases, the control results from the equity instruments that are held (participating interests in the company and shares).
Joint arrangements
IFRS 11 outlines accounting by entities that jointly control an arrangement. Joint control involves the contractually agreed sharing of control. If the controlling parties have rights to the net assets of the arrangement (joint venture), the equity method is used for financial reporting. If the controlling parties have rights to the assets, and obligations for the liabilities, relating to the agreement (joint operations), the assets and liabilities, as well as the income and expenses, are recognised using proportionate consolidation.
Joint operations
Ennskraftwerke Aktiengesellschaft produces electricity with hydropower plants. Gas- und Dampfkraftwerk Timelkam GmbH supplies electricity from the operation of a combined cycle gas-turbine power plant.
The Group holds a strategic interest of 50% in both Ennskraftwerke Aktiengesellschaft and Gas- und Dampfkraftwerk Timelkam GmbH. The entities are not controlled by any party.
Under the existing electricity supply contracts, the investors purchase the electric energy produced by the Group companies, where the internal price is calculated on a pro-rata basis of the production costs, plus a corresponding profit margin. Due to the electricity supply contracts, the parties have rights to the assets. As the arrangements’ liabilities can only be settled with these cash flows, the parties have obligations for the liabilities relating to the joint arrangement. Ennskraftwerke Aktiengesellschaft and Gas- und Dampfkraftwerk Timelkam GmbH are therefore classified as joint operations according to IFRS 11.
The share of the assets and liabilities, as well as the revenues and expenses are reported in the Consolidated Financial Statements. The average share of the electricity supply (38%) is used to determine the share for the pro rata recognition of Ennskraftwerke Aktiengesellschaft. The share of the electricity procured from Gas- und Dampfkraftwerk Timelkam GmbH, amounting to 70%, is used for the consolidation of the company.
Joint ventures
Due to special agreements under company law, no control exists for “Papyrus” Altpapierservice Handelsgesellschaft m.b.H. (Salzburg), Papyrus Wertstoff Service GmbH (Bad Reichenhall, Germany) or for Fernwärme Steyr GmbH, despite holding a majority of the voting rights. These entities are controlled jointly with other investors and are therefore accounted for using the equity method.
Associated companies
Companies in which Energie AG Oberösterreich exercises a significant influence (associated companies) are consolidated using the equity method. Significant influence exists due to holdings of the entity’s share capital. Salzburg AG für Energie, Verkehr und Telekommunikation is an infrastructure provider for energy, transport and telecommunication. Wels Strom GmbH is an energy utility and service company.
The changes in the scope of consolidation are as follows:
|
|
Full |
|
Proportionate |
|
Equity |
---|---|---|---|---|---|---|
30.09.2023 |
|
48 |
|
2 |
|
13 |
Merger |
|
-2 |
|
– |
|
– |
30.09.2024 |
|
46 |
|
2 |
|
13 |
In the Holding & Services Segment, Energie AG Oberösterreich Customer Services GmbH was merged with Energie AG Oberösterreich Telekom GmbH to form the Energie AG Business Services GmbH. Subsequently it was renamed Energie AG Oberösterreich Services und Digital Solutions GmbH. The restructuring does not have a material impact on the Consolidated Financial Statements.
Joint ventures
The Statement of Financial Position and the Statement of Income of the joint ventures (100%) presents as follows:
|
|
BBOÖ Breitband Oberösterreich GmbH, Breitband Oberösterreich Infrastruktur GmbH |
|
Windpower EP GmbH |
|
Other joint ventures |
||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|
|
|
30.09.2024 |
|
30.09.2023 |
|
30.09.2024 |
|
30.09.2023 |
|
30.09.2024 |
|
30.09.2023 |
Non-current assets |
|
250.7 |
|
222.5 |
|
21.0 |
|
24.6 |
|
56.6 |
|
55.1 |
Current assets |
|
35.0 |
|
55.7 |
|
7.7 |
|
7.3 |
|
34.4 |
|
33.9 |
|
|
285.7 |
|
278.2 |
|
28.7 |
|
31.9 |
|
91.0 |
|
89.0 |
Equity |
|
69.1 |
|
70.5 |
|
7.5 |
|
6.5 |
|
42.9 |
|
38.0 |
Non-current liabilities |
|
199.1 |
|
183.0 |
|
19.1 |
|
23.2 |
|
33.7 |
|
33.6 |
Current liabilities |
|
17.5 |
|
24.7 |
|
2.1 |
|
2.2 |
|
14.4 |
|
17.4 |
|
|
285.7 |
|
278.2 |
|
28.7 |
|
31.9 |
|
91.0 |
|
89.0 |
Cash and cash equivalents |
|
5.7 |
|
7.0 |
|
6.8 |
|
6.1 |
|
15.2 |
|
11.1 |
Non-current financial liabilities |
|
73.1 |
|
67.5 |
|
18.9 |
|
22.0 |
|
24.2 |
|
25.2 |
Current financial liabilities |
|
– |
|
– |
|
0.4 |
|
0.4 |
|
2.2 |
|
3.7 |
|
|
BBOÖ Breitband Oberösterreich GmbH, Breitband Oberösterreich Infrastruktur GmbH |
|
Windpower EP GmbH |
|
Other joint ventures |
||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|
|
|
2023/2024 |
|
2022/2023 |
|
2023/2024 |
|
2022/2023 |
|
2023/2024 |
|
2022/2023 |
Sales revenues |
|
15.2 |
|
11.1 |
|
9.9 |
|
9.9 |
|
64.4 |
|
66.0 |
Depreciation, amortisation, and impairments |
|
-13.9 |
|
-8.8 |
|
-2.9 |
|
-2.9 |
|
-4.4 |
|
-3.9 |
Interest income |
|
– |
|
– |
|
0.7 |
|
0.4 |
|
0.8 |
|
0.5 |
Interest expense |
|
-3.1 |
|
-0.9 |
|
-1.0 |
|
-0.8 |
|
-1.3 |
|
-1.0 |
Taxes |
|
0.1 |
|
-1.8 |
|
-2.1 |
|
-1.2 |
|
-1.1 |
|
-2.2 |
Earnings after taxes |
|
-4.5 |
|
-4.8 |
|
5.2 |
|
3.6 |
|
4.5 |
|
6.4 |
|
|
|
|
|
|
|
|
|
|
|
|
|
Share in net assets |
|
35.8 |
|
38.3 |
|
3.2 |
|
3.6 |
|
17.9 |
|
14.5 |
Profit for the period |
|
-0.7 |
|
-2.5 |
|
2.2 |
|
1.8 |
|
2.3 |
|
3.5 |
Dividends |
|
– |
|
– |
|
-1.7 |
|
-2.2 |
|
-0.3 |
|
-0.1 |
Share in net assets |
|
35.1 |
|
35.8 |
|
3.7 |
|
3.2 |
|
19.9 |
|
17.9 |
Goodwill |
|
0.2 |
|
0.2 |
|
– |
|
– |
|
0.7 |
|
0.3 |
Carrying amount as of 30.09. |
|
35.3 |
|
36.0 |
|
3.7 |
|
3.2 |
|
20.6 |
|
18.2 |
Associated companies
The Statement of Financial Position and the Statement of Income of the associated companies (100%) presents as follows:
|
|
Salzburg AG für Energie, Verkehr und Telekommunikation |
|
Wels Strom GmbH |
|
Other associated companies |
||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|
|
|
30.09.2024 |
|
30.09.2023 |
|
30.09.2024 |
|
30.09.2023 |
|
30.09.2024 |
|
30.09.2023 |
Non-current assets |
|
1,799.5 |
|
1,695.2 |
|
91.9 |
|
93.2 |
|
6.7 |
|
5.8 |
Current assets |
|
609.0 |
|
462.8 |
|
30.5 |
|
25.9 |
|
9.4 |
|
7.3 |
|
|
2,408.5 |
|
2,158.0 |
|
122.4 |
|
119.1 |
|
16.1 |
|
13.1 |
Equity |
|
727.4 |
|
621.9 |
|
34.6 |
|
30.4 |
|
11.0 |
|
9.2 |
Non-current liabilities |
|
814.6 |
|
743.8 |
|
24.9 |
|
26.0 |
|
4.6 |
|
2.6 |
Current liabilities |
|
866.5 |
|
792.3 |
|
62.9 |
|
62.7 |
|
0.5 |
|
1.3 |
|
|
2,408.5 |
|
2,158.0 |
|
122.4 |
|
119.1 |
|
16.1 |
|
13.1 |
|
|
Salzburg AG für Energie, Verkehr und Telekommunikation |
|
Wels Strom GmbH |
|
Other associated companies |
||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|
|
|
2023/2024 |
|
2022/2023 |
|
2023/2024 |
|
2022/2023 |
|
2023/2024 |
|
2022/2023 |
Sales revenues |
|
2,437.3 |
|
2,868.0 |
|
182.2 |
|
192.1 |
|
9.0 |
|
8.6 |
Earnings after taxes |
|
130.1 |
|
16.4 |
|
8.7 |
|
7.8 |
|
1.9 |
|
1.9 |
Dividends |
|
-25.8 |
|
– |
|
-4.4 |
|
-2.7 |
|
– |
|
– |
|
|
|
|
|
|
|
|
|
|
|
|
|
Share in net assets |
|
162.5 |
|
158.2 |
|
14.8 |
|
12.3 |
|
3.7 |
|
2.9 |
Profit for the period |
|
34.3 |
|
4.3 |
|
4.3 |
|
3.8 |
|
0.7 |
|
0.8 |
Dividends |
|
-6.8 |
|
– |
|
-2.2 |
|
-1.3 |
|
– |
|
– |
Share in net assets |
|
190.0 |
|
162.5 |
|
16.9 |
|
14.8 |
|
4.4 |
|
3.7 |
Goodwill |
|
19.7 |
|
19.7 |
|
36.7 |
|
36.7 |
|
– |
|
– |
Carrying amount as of 30.09. |
|
209.7 |
|
182.2 |
|
53.6 |
|
51.5 |
|
4.4 |
|
3.7 |
3.2. Group companies
|
|
Domicile |
|
Interest held |
|
Consolidation |
|||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Austria |
|
|
|
|
|
|
|||||||||||
Energie AG Oberösterreich |
|
Linz |
|
Parent |
|
|
|||||||||||
Energie AG Group Treasury GmbH |
|
Linz |
|
100.00 (100.00) |
|
FC (FC) |
|||||||||||
Energie AG Oberösterreich Businesskunden GmbH |
|
Linz |
|
100.00 (100.00) |
|
FC (FC) |
|||||||||||
Energie AG Oberösterreich Bohemia GmbH |
|
Linz |
|
100.00 (100.00) |
|
FC (FC) |
|||||||||||
Energie AG Oberösterreich Customer Services GmbH |
|
Linz |
|
– (100.00) |
|
– (FC) |
|||||||||||
Energie AG Oberösterreich Erzeugung GmbH |
|
Linz |
|
100.00 (100.00) |
|
FC (FC) |
|||||||||||
Energie AG Oberösterreich Kraftwerk Ennshafen GmbH |
|
Linz |
|
100.00 (100.00) |
|
FC (FC) |
|||||||||||
Energie AG Oberösterreich Kommunalservice GmbH |
|
Wels |
|
100.00 (100.00) |
|
FC (FC) |
|||||||||||
Energie AG Oberösterreich Personalmanagement GmbH |
|
Linz |
|
100.00 (100.00) |
|
FC (FC) |
|||||||||||
Energie AG Oberösterreich Personal Power GmbH |
|
Linz |
|
100.00 (100.00) |
|
FC (FC) |
|||||||||||
Energie AG Oberösterreich Renewable Power GmbH |
|
Linz |
|
100.00 (100.00) |
|
FC (FC) |
|||||||||||
Energie AG Oberösterreich Service- und Beteiligungsverwaltungs-GmbH |
|
Linz |
|
100.00 (100.00) |
|
FC (FC) |
|||||||||||
Energie AG Oberösterreich Services und Digital Solutions GmbH (previously: Energie AG Oberösterreich Business Services GmbH) |
|
Linz |
|
100.00 (100.00) |
|
FC (FC) |
|||||||||||
Energie AG Oberösterreich Telekom GmbH |
|
Linz |
|
– (100.00) |
|
– (FC) |
|||||||||||
Energie AG Oberösterreich Tech Services GmbH |
|
Linz |
|
100.00 (100.00) |
|
FC (FC) |
|||||||||||
Energie AG Oberösterreich Trading GmbH |
|
Linz |
|
100.00 (100.00) |
|
FC (FC) |
|||||||||||
Energie AG Oberösterreich Umwelt Holding GmbH |
|
Linz |
|
100.00 (100.00) |
|
FC (FC) |
|||||||||||
Energie AG Oberösterreich Umwelt Service GmbH |
|
Wels |
|
100.00 (100.00) |
|
FC (FC) |
|||||||||||
Energie AG Oberösterreich Vertrieb GmbH |
|
Linz |
|
100.00 (100.00) |
|
FC (FC) |
|||||||||||
Energie-Contracting Steyr GmbH |
|
Steyr |
|
100.00 (100.00) |
|
FC (FC) |
|||||||||||
Abfall-Aufbereitungs-GmbH |
|
Hörsching |
|
100.00 (100.00) |
|
FC (FC) |
|||||||||||
ASPG Altlastensanierungsprojekte GmbH |
|
Wels |
|
100.00 (100.00) |
|
FC (FC) |
|||||||||||
Cogeneration-Kraftwerke Management Oberösterreich GmbH |
|
Linz |
|
100.00 (100.00) |
|
FC (FC) |
|||||||||||
Energie AG Oberösterreich Öko GmbH |
|
Linz |
|
100.00 (100.00) |
|
FC (FC) |
|||||||||||
IfEA Institut für Energieausweis GmbH |
|
Linz |
|
100.00 (100.00) |
|
FC (FC) |
|||||||||||
Netz Oberösterreich GmbH |
|
Linz |
|
100.00 (100.00) |
|
FC (FC) |
|||||||||||
Wertstatt 8 GmbH |
|
Linz |
|
100.00 (100.00) |
|
FC (FC) |
|||||||||||
MA Restabfallverwertung GmbH |
|
Wels |
|
99.00 (99.00) |
|
FC (FC) |
|||||||||||
WDL-WasserdienstleistungsGmbH |
|
Linz |
|
90.00 (90.00) |
|
FC (FC) |
|||||||||||
Market Calling Marketing GesmbH |
|
Linz |
|
60.00 (60.00) |
|
FC (FC) |
|||||||||||
Ennskraftwerke Aktiengesellschaft |
|
Steyr |
|
50.00 (50.00) |
|
JO (JO) |
|||||||||||
Gas- und Dampfkraftwerk Timelkam GmbH |
|
Linz |
|
50.00 (50.00) |
|
JO (JO) |
|||||||||||
"Papyrus" Altpapierservice Handelsgesellschaft m.b.H. |
|
Salzburg |
|
63.33 (63.33) |
|
JV (JV) |
|||||||||||
Fernwärme Steyr GmbH |
|
Steyr |
|
51.00 (51.00) |
|
JV (JV) |
|||||||||||
AMR Austrian Metal Recovery GmbH |
|
Linz |
|
50.00 (50.00) |
|
JV (JV) |
|||||||||||
BBOÖ Breitband Oberösterreich GmbH |
|
Linz |
|
50.00 (50.00) |
|
JV (JV) |
|||||||||||
Breitband Oberösterreich Infrastruktur GmbH |
|
Linz |
|
50.00 (50.00) |
|
JV (JV) |
|||||||||||
Windpower EP GmbH |
|
Parndorf |
|
50.00 (50.00) |
|
JV (JV) |
|||||||||||
Bioenergie Steyr GmbH |
|
Behamberg |
|
49.00 (49.00) |
|
JV (JV) |
|||||||||||
Energie Ried Wärme GmbH |
|
Ried im Innkreis |
|
40.00 (40.00) |
|
JV (JV) |
|||||||||||
Wels Strom GmbH |
|
Wels |
|
49.00 (49.00) |
|
AC (AC) |
|||||||||||
Geothermie-Wärmegesellschaft Braunau-Simbach mbH |
|
Braunau |
|
40.00 (40.00) |
|
AC (AC) |
|||||||||||
Salzburg AG für Energie, Verkehr und Telekommunikation |
|
Salzburg |
|
26.13 (26.13) |
|
AC (AC) |
|||||||||||
mieX GmbH |
|
Peilstein |
|
100.00 (100.00) |
|
UC (UC) |
|||||||||||
Lino Solutions GmbH |
|
Linz |
|
80.00 (–) |
|
UC (–) |
|||||||||||
Energy IT Service GmbH |
|
Linz |
|
66.67 (66.67) |
|
UC (UC) |
|||||||||||
BBI Breitbandinfrastruktur GmbH |
|
Linz |
|
55.00 (55.00) |
|
UC (UC) |
|||||||||||
RVL Reststoffverwertung Lenzing GmbH |
|
Lenzing |
|
50.00 (50.00) |
|
UC (UC) |
|||||||||||
WDL Infrastruktur GmbH |
|
Linz |
|
49.00 (49.00) |
|
UC (UC) |
|||||||||||
OÖ Science-Center Wels Errichtungs-GmbH |
|
Wels |
|
50.00 (50.00) |
|
UC (UC) |
|||||||||||
GRB Geothermie Ried Bohrung GmbH |
|
Ried im Innkreis |
|
40.00 (40.00) |
|
UC (UC) |
|||||||||||
Recycling Innsbruck GmbH |
|
Innsbruck |
|
25.00 (25.00) |
|
UC (UC) |
|||||||||||
Czech Republic |
|
|
|
|
|
|
|||||||||||
ČEVAK a.s. |
|
České Budějovice |
|
100.00 (100.00) |
|
FC (FC) |
|||||||||||
ENERGIE AG BOHEMIA s.r.o. |
|
Praha |
|
100.00 (100.00) |
|
FC (FC) |
|||||||||||
Energie AG Teplo Vimperk s.r.o. |
|
Vimperk |
|
100.00 (100.00) |
|
FC (FC) |
|||||||||||
RATE s.r.o. |
|
Štětí |
|
100.00 (100.00) |
|
FC (FC) |
|||||||||||
Energie AG Teplo Bohemia s.r.o. |
|
Rakovník |
|
100.00 (100.00) |
|
FC (FC) |
|||||||||||
VHOS a.s. |
|
Moravská Třebová |
|
100.00 (100.00) |
|
FC (FC) |
|||||||||||
Vodárenská společnost Beroun s.r.o. |
|
Beroun |
|
100.00 (100.00) |
|
FC (FC) |
|||||||||||
VODOS Velkoobchod s.r.o. |
|
České Budějovice |
|
100.00 (100.00) |
|
FC (FC) |
|||||||||||
Energie AG Kolin a.s. |
|
Kolín |
|
97.33 (97.33) |
|
FC (FC) |
|||||||||||
Vodárenská společnost Chrudim a.s. |
|
Chrudim |
|
95.00 (95.00) |
|
FC (FC) |
|||||||||||
SATEZA a.s. |
|
Šumperk |
|
95.83 (95.83) |
|
FC (FC) |
|||||||||||
Aqua Servis a.s. |
|
Rychnov nad Kněžnou |
|
74.06 (66.00) |
|
FC (FC) |
|||||||||||
Vodovody a kanalizace Beroun a.s. |
|
Beroun |
|
60.25 (60.23) |
|
FC (FC) |
|||||||||||
1. Jihočeská vodohospodářská spol. s r.o. |
|
České Budějovice |
|
100.00 (100.00) |
|
UC (UC) |
|||||||||||
DÉMOS, spol. s r.o. |
|
Ústí nad Orlicí |
|
100.00 (100.00) |
|
UC (UC) |
|||||||||||
DÉMOS – správa, s.r.o. |
|
Ústí nad Orlicí |
|
100.00 (100.00) |
|
UC (UC) |
|||||||||||
Vodovod Radyně a.s. |
|
České Budějovice |
|
100.00 (100.00) |
|
UC (UC) |
|||||||||||
Italy |
|
|
|
|
|
|
|||||||||||
ECOFE S.R.L. |
|
Meran |
|
100.00 (100.00) |
|
FC (FC) |
|||||||||||
Energie AG Südtirol Umwelt Service GmbH |
|
Neumarkt |
|
100.00 (100.00) |
|
FC (FC) |
|||||||||||
Salvatonica Energia S.R.L. |
|
Meran |
|
100.00 (100.00) |
|
FC (FC) |
|||||||||||
Germany |
|
|
|
|
|
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Erdgas Oberösterreich Vertriebs GmbH |
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Tittling |
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100.00 (100.00) |
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FC (FC) |
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Papyrus Wertstoff Service GmbH |
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Bad Reichenhall |
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63.33 (63.33) |
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JV (JV) |
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Geothermie-Fördergesellschaft Simbach-Braunau mbH |
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Simbach |
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40.00 (40.00) |
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AC (AC) |
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Hungary |
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Energie AG Heves Régió Környezetvédelmi és Hulladékgazdálkodási Korlátolt Felelősségű Társaság |
|
Miskolc |
|
100.00 (100.00) |
|
FC (FC) |
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