All tax liabilities (EUR 40 thousand; previous year: EUR 811 thousand) are current.
The deferred tax assets and liabilities reported in the consolidated statement of financial position relate to the following items:
EUR '000 |
|
Net as at 30/06/2019 |
|
Recognised in profit or loss |
|
Recognised in OCI |
|
Net as at 30/06/2020 |
|
Deferred tax assets |
|
Deferred tax liabilities |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
|
|
|
|
|
|
|
|
|
|
|
|
|
Intangible assets |
|
11 |
|
5,466 |
|
0 |
|
5,477 |
|
5,477 |
|
0 |
Property, plant and equipment |
|
-5,085 |
|
-1,081 |
|
0 |
|
-6,166 |
|
61 |
|
-6,227 |
Trade receivables and other assets |
|
235 |
|
40 |
|
0 |
|
275 |
|
275 |
|
0 |
Trade payables |
|
-9,716 |
|
-6,970 |
|
0 |
|
-16,686 |
|
639 |
|
-17,325 |
Tax loss carry-forwards |
|
11,876 |
|
5,224 |
|
0 |
|
17,100 |
|
17,100 |
|
0 |
Total |
|
-2,679 |
|
2,679 |
|
0 |
|
0 |
|
23,552 |
|
-23,552 |
EUR '000 |
|
Net as at 30/06/2018 * |
|
Recognised in profit or loss |
|
Recognised in OCI |
|
Net as at 30/06/2019 |
|
Deferred tax assets |
|
Deferred tax liabilities |
||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||
Intangible assets |
|
6,792 |
|
-6,781 |
|
0 |
|
11 |
|
11 |
|
0 |
||||
Property, plant and equipment |
|
-4,198 |
|
-887 |
|
0 |
|
-5,085 |
|
116 |
|
-5,201 |
||||
Trade receivables and other assets |
|
0 |
|
-28 |
|
263 |
|
235 |
|
235 |
|
0 |
||||
Trade payables |
|
-11,106 |
|
1,390 |
|
0 |
|
-9,716 |
|
738 |
|
-10,454 |
||||
Tax loss carry-forwards |
|
8,512 |
|
3,364 |
|
0 |
|
11,876 |
|
11,876 |
|
0 |
||||
Total |
|
0 |
|
-2,942 |
|
263 |
|
-2,679 |
|
12,976 |
|
-15,655 |
||||
|
||||||||||||||||
Deferred taxes recognised in other comprehensive income in the previous year resulted in each case from cash flow hedges.
The income tax expense was made up as follows:
EUR '000 |
|
2019/2020 |
|
2018/2019 |
|---|---|---|---|---|
|
|
|
|
|
Income taxes |
|
|
|
|
Current period |
|
-40 |
|
-1,742 |
Prior period |
|
-9 |
|
266 |
|
|
|
|
|
Deferred tax benefit/expense in connection with |
|
|
|
|
the creation or reversal of temporary differences |
|
-2,545 |
|
-6,306 |
Tax loss carryforwards not yet utilised |
|
5,224 |
|
3,364 |
|
|
2,630 |
|
-4,418 |
At the end of the reporting period, the Group had corporation tax loss carry-forwards amounting to EUR 44,270 thousand (previous year: EUR 0 thousand) and trade tax loss carry-forwards amounting to EUR 29,492 thousand (previous year: EUR 0 thousand) for which no deferred tax assets have been recognised. The tax loss carry-forwards have an unlimited carry-forward period.
The expected income tax expense which would theoretically result from applying the weighted average tax rate of 32.81% (previous year: 32.81%) can be reconciled with the actual income tax benefit reported in the consolidated statement of comprehensive income as follows:
EUR '000 |
|
2019/2020 |
|
2018/2019 |
|---|---|---|---|---|
|
|
|
|
|
Consolidated net profit before income taxes |
|
-46,583 |
|
21,809 |
Theoretical tax rate in % |
|
32.81 |
|
32.81 |
|
|
|
|
|
Expected income tax payment/benefit |
|
15,284 |
|
-7,156 |
|
|
|
|
|
Effects from tax additions and subtractions |
|
1,240 |
|
2,486 |
Effect of supplementary tax accounts |
|
0 |
|
0 |
Losses in the financial year for which no deferred taxes were recognised |
|
0 |
|
0 |
Change in ability to utilise tax loss carry-forwards |
|
-16,564 |
|
2,928 |
Change in deferred taxes |
|
2,679 |
|
-2,942 |
Prior-year taxes |
|
-9 |
|
266 |
Tax implications of accounting using the equity method |
|
0 |
|
0 |
Tax payment/benefit as reported in the consolidated statement of comprehensive income |
|
2,630 |
|
-4,418 |
Actual tax rate in % |
|
-5.64 |
|
20.26 |