Page 44 - Annual Report KELAG Group 2018

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):

PENSIONS AND PENSION-RELATED
OBLIGATIONS
Discount rate
Pensions 1.37% 1.03%
Defined benefit plans and pension-related 1.85 - 2.01% 1.68 - 1.80%
obligations
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%
STATUTORY SEVERANCE PAYMENTS
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.