ANNUAL REPORT 2021

69 17 8 OTHER FINANCIAL ASSETS 31 Dec 2021 31 Dec 2020 Investments available for sale: STABILITA, d.d.s., a.s., Slovakia - 94 387 PROJECT STEEL SUPPLIES PTY LTD, Australia 65 000 65 000 Impairment - - Investments available-for-sale, net 65 000 159 387 TOM- FERR Zrt. 2 408 998 1 937 713 FK Železiarne Podbrezová a.s. - 98 170 Tále ski & golf resorts s. r. o. - 12 000 Pipex Energy S.r.l. 9 800 - Investments in associates 2 418 798 2 047 883 Other non - current receivables 320 359 412 509 Long - term loans provided to associates 1 647 555 - Total other financial assets 4 451 712 2 619 779 Investments available for sale mainly include unconsolidated subsidiaries and insignificant companies in which the Group has an ownership interest of less than 20%. These companies are based in Slovakia or in the Czech Republic, and one company is based in Australia. The companies are not registered on a stock exchange. The investments are recognised at a cost less impairment, if any, as their fair value cannot be reasonably estimated. 9 DEFERRED TAX ASSET AND LIABILITY The table below presents the most significant deferred tax assets and (liabilities) reported by the Group and movements in these items during the current and previous accounting period: 1 Jan 2021 Changes owingto the sale of interests in subsidiaries (Debit)/ Credit toprofit for currentyear (Debit)/Credit to othercomprehensive incomeand losses 31 Dec 2021 Property, plant and equipment (11 866 260) - (734 667) - (12 600 927) Inventories 794 534 - (84 692) - 709 842 Receivables 12 019 - (4 090) - 7 929 Liabilities 274 017 - (232) - 273 785 Provisions 198 743 - 71 188 - 269 931 Employee benefits 1 590 376 - 158 336 - 1 748 712 Tax loss carry - forward 58 128 - 128 508 - 186 636 Subsidies, research and development 565 981 - 2 130 432 - 2 696 413 Investment in joint ventures - - - - - Net deferred tax (8 372 462) - 1 664 783 - (6 707 679) 1 Jan 2020 Changes owingto the sale of interests in subsidiaries (Debit)/ Credit toprofit for currentyear (Debit)/Credit to othercomprehensive incomeand losses 31 Dec 2020 Property, plant and equipment (13 191 950) - 1 325 690 - (11 866 260) Inventories 643 897 - 150 637 - 794 534 Receivables 13 402 - (1 383) - 12 019 Liabilities 261 297 - 12 720 - 274 017 Provisions 273 029 - (74 286) - 198 743 Employee benefits 1 703 703 - (113 327) - 1 590 376 Tax loss carry - forward 77 504 - (19 376) - 58 128 Subsidies, research and development 627 536 - (61 555) - 565 981 Investment in joint ventures (30 778) - 30 778 - - Net deferred tax (9 622 360) - 1 249 898 - (8 372 462) In accordance with the Group’s accounting policies, certain deferred tax assets and liabilities were offset. The table below presents the balances of deferred tax (after offsetting) for their reporting in the statement of financial position: 31 Dec 2021 31 Dec 2020 Deferred tax asset 309 146 450 001 Deferred tax liability (7 016 825) (8 822 463) Total (6 707 679) (8 372 462) NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021 (IN EUROS)