EXEL industries - 2019 Universal Registration Document

Consolidated fi nancial statements 4

Notes to the consolidated fi nancial statements

Note c 22 Corporate income tax

Corporate income tax expense breaks down as follows:

09/30/2018 Fiscal year

09/30/2019 Fiscal year

Consolidated (in € thousands)

Current tax income

(10,330)

(16,940)

Deferred tax income

4,605

592

TOTAL

(5,725)

(16,349)

22.1 Change in deferred taxes

09/30/2018 Fiscal year

09/30/2019 Fiscal year

Consolidated (in € thousands)

NET DEFERRED TAX ASSETS/(LIABILITIES) AT THE BEGINNING OF THE FISCAL YEAR

14,127

13,621

Deferred taxes recognized in equity

1,238

30

Deferred tax income

4,605

592

Changes in Group structure

-

-

Translation gains

350

(116)

NET DEFERRED TAX AT THE END OF THE FISCAL YEAR

20,320

14,127

Of which deferred tax assets

24,917

17,587

Of which deferred tax liabilities

(4,597)

(3,460)

22.2 Analysis of deferred taxes by nature

09/30/2018 Fiscal year

09/30/2019 Fiscal year

Consolidated (in € thousands)

(assets if +; liabilities if -) Deferred taxes from temporary timing di ff erences Employee bene fi ts (provisions for pension liabilities, pro fi t sharing, accrued vacation payments)

7,869

7,999

Other timing di ff erences between the tax result and book result

(18)

(6)

Tax losses to be carried forward

10,360

5,712

Deferred taxes arising from consolidation adjustments Capitalization of fi nance leases

11

11

Cancellation of tax-driven provisions (accelerated tax depreciation)

(2,358)

(2,333)

Elimination of internal inventory margins

3,383

3,254

Revaluation surplus

(478)

(128)

Adjustments of income from customer contracts

784

Other misc. items

768

(382)

NET DEFERRED TAX AT THE END OF THE FISCAL YEAR

20,320

14,127

Of which deferred tax assets

24,917

17,587

Of which deferred tax liabilities

(4,597)

(3,461)

EXEL Industries Group I 2019 Universal Registration Document 82