25. Non-current provisions

For the most part, the provisions for pensions, severance payments and anniversary bonuses have a term that is more than five years. The provision for stepped pension and early retirement benefits will lead to payment outflows within the next five fiscal years, for the most part.

The following assumptions were made in calculating the personnel provisions:

Biometric calculations were based on the AVÖ 2018 P calculation principles for pension funds from the Actuarial Association of Austria. The statutory retirement age was used as a basis.

A fluctuation ranging from 0.0% to 13.69% (previous year: 0.00% to 13.59%) is assumed, staggered according to length of service with the company.

25.1 Provisions for pensions and similar provisions

Company agreements and commitments under individual contracts have incurred an obligation to pay pensions upon retirement to certain staff members who joined the company prior to 30 September 1996 and have accepted neither full nor partial compensation of their claims to direct payments. Beyond that, there is an obligation to pay pensions to certain staff members who retired before 1 July 1998.

For this group of people, a pension provision has been created in line with IAS 19 (Employee Benefits) using the projected unit credit method of actuarial valuation.

The Group has an obligation to make additional contributions for defined retirement benefit obligations that were transferred to the Group’s pension fund.

Changes in fund assets

The actual income from the plan assets amounts to EUR 918.7 thousand (previous year: EUR 334.0 thousand).

The present value of the defined retirement benefit obligations is distributed over the individual groups of employees entitled to pension benefits as follows:

As of 30 September 2024, the weighted average remaining term of the defined benefit obligations was 10.0 years (previous year: 10.0 years).

Pension payments for the 2024/2025 fiscal year are expected to amount to EUR 7,443.8 thousand.

An increase or decrease in the material actuarial assumptions would have the following effects on the present value of the retirement benefit obligations:

25.2 Provisions for severance payments

Based on obligations according to Austrian law and collective bargaining agreements, severance payments were paid to employees who took up service by 31 December 2002. Benefits due at the time of retirement or severance are calculated on the basis of the last salary, as well as the number of years of employment.

Based on these regulations according to labour law and collective bargaining agreements, a provision is created which is calculated according to the projected unit credit method.

As of 30 September 2024, the weighted average remaining term of the defined benefit obligations was 7.0 years (previous year: 7.0 years).

Severance payments for the 2024/2025 fiscal year are expected to amount to EUR 11,645.6 thousand.

An increase or decrease in the significant actuarial assumptions would have the following effects on the present value of the severance payment obligations:

For employment relationships in Austria commencing on or after 1 January 2003, the employer is liable to remit 1.53% of the gross salary to an employee pension fund. This form of severance payment is recognised as a defined contribution plans according to IAS 19 (Employee Benefits).

25.3 Provisions for anniversary bonuses

Based on collective bargaining agreements, a provision for anniversary bonuses is created which is calculated according to the projected unit credit method.

25.4 Provisions for stepped pension and early retirement benefits

A stepped pension (early retirement model) has been agreed upon with certain employees. This is a transitional payment for the period between the early termination of the employment relationship and the time when a claim to legal pension benefits is reached. The transitional payments for this period correspond to a previously determined percentage of the previous salary.

For the resulting obligations, a provision is created according to IAS 19 (Employee Benefits).

25.5 Other non-current provisions

This item predominantly contains provisions for landfills and provisions related to the operation of gas storage facilities.