EXEL Industries // 2020 Universal registration document

Consolidated fi nancial statements Notes to the consolidated fi nancial statements

Note 22 Corporate income tax

Corporate income tax expense breaks down as follows:

Fiscal year 09/30/2019

Fiscal year 09/30/2020

Consolidated (in € thousands)

Current tax income

(1,122)

(10,330)

Deferred tax income

(4,307)

4,605

TOTAL

(5,430)

(5,725)

22.1 Change in deferred taxes

Fiscal year 09/30/2019

Fiscal year 09/30/2020

Consolidated (in € thousands)

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

20,320

14,127

Deferred taxes recognized in shareholders’ equity

445

1,238

Deferred tax income

(4,307)

4,605

5

Changes in Group structure

(8)

0

Translation gains

(828)

350

NET DEFERRED TAX AT THE END OF THE FISCAL YEAR

15,623

20,320

Of which deferred tax assets

21,175

24,917

Of which deferred tax liabilities

(5,553)

(4,597)

22.2 Breakdown of deferred taxes by type

Fiscal year 09/30/2019

Fiscal year 09/30/2020

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)

7,556

7,869

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

351

(18)

Tax losses to be carried forward

8,361

10,360

Deferred taxes arising from consolidation adjustments Capitalization of fi nance leases

9

11

Cancellation of tax-driven provisions (accelerated tax depreciation)

(2,210)

(2,358)

Elimination of internal inventory margins

3,205

3,383

Revaluation surplus

(4,813)

(478)

Adjustments of income from customer contracts

807

784

Other misc. items

2,356

768

NET DEFERRED TAX AT THE END OF THE FISCAL YEAR

15,623

20,320

Of which deferred tax assets

21,175

24,917

Of which deferred tax liabilities

(5,553)

(4,597)

EXEL Industries group I 2020 Universal Registration Document

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