Page 44 - Annual Report KELAG Group 2018
P. 44

made to pay a subsequent purchase price depending on the statutory framework conditions. In
           the current reporting year, there is a liability of EUR 0.6m (prior year: EUR 0.6m).

           A contingent purchase price clause was signed upon acquisition of Vjetropark Jasenice d.o.o.,
           under which a subsequent payment may have to be made depending on the income from wind
           power in the first five years after commissioning the as-yet-unbuilt wind turbines. The liability for
           this potential earn-out payment currently stands at EUR 0.2m.

           The pension and severance obligations as of 31 December 2018 and 31 December 2017 are based
           on the following assumptions (see Note 23):

              Discount rate
                 Pensions                                   1.37%            1.03%
                 Defined benefit plans and pension-related   1.85 - 2.01%   1.68 - 1.80%
              Pension increases
                 Increase rate for pension assessment base   2.65%           1.66%
                 Increase rate for future pensions          1.57%            1.33%
              Employee turnover                             None             None
              Pension age for women                      56.5 to 62       56.5 to 62
              Pension age for men                             62               62
              Long-term return on plan assets               2.01%            1.80%
              Discount rate                                 1.37%            1.03%
              Salary increases                              2.65%            1.66%
              Employee turnover                             None             None

           The following sensitivity analyses for pension obligations and severance payments present the
           impact of changes in the main actuarial assumptions on the amount of the obligations. In each
           case, one significant input is changed and the other inputs are kept constant. The change in the
           obligation is calculated in the same way as the actual obligation using the projected unit credit
           method pursuant to IAS 19.
   39   40   41   42   43   44   45   46   47   48   49