Page 76 - Annual Report KELAG Group 2018
P. 76

Unrecognised deferred tax assets from tax losses        1.5        0.1

           As of 31 December 2018 (and in the prior year), the company assumed that, on the basis of the
           prevailing tax laws, the differences between the carrying amount of the equity investment in the
           tax accounts and the share in equity or carrying amount of the equity investment (outside-basis
           differences) in consolidated subsidiaries and equity investments accounted for using the equity
           method  in  consolidated  financial  statements  in  accordance  with  IFRS  –  differences  arising  in
           particular  due  to  retained  profit  or  accumulated  losses  –  will  remain  tax  exempt  for  the
           foreseeable future. Consequently, the company did not recognise a tax liability for temporary
           differences of EUR 84.6m (prior year: EUR 74.7m) in connection with the equity investments in
           subsidiaries and associates as of 31 December 2018.

            Materials and supplies                                  8.0        7.2
            Work in process                                         0.1        0.1
            Finished goods and merchandise                          5.6        5.9
            Services not yet invoiced                               1.2        2.6
            Prepayment on inventories                               0.1        0.0
            TOTAL INVENTORIES                                     15.0        15.7

           The value of the natural gas inventory on the reporting date amounted to EUR 4.2m (prior year:
           EUR 3.6m).  As  in  the  prior  year,  no  impairment  losses  were  recognised  in  inventories  in  the
           financial year 2018.
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