Income Tax (Tables)
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12 Months Ended |
Sep. 30, 2024 |
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| Disclosure of income tax [abstract] |
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| Schedule of Major Components of Income Tax Expense |
The major components of income tax expense are as follows:
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Year ended September 30, |
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2024 |
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2023 |
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2022 |
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Current income taxes |
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(78,366 |
) |
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(50,849 |
) |
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(66,336 |
) |
Deferred income taxes |
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(23,814 |
) |
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(27,781 |
) |
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2,923 |
|
Income tax expense |
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(102,180 |
) |
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(78,630 |
) |
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(63,413 |
) |
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| Schedule of Reconciliation of Effective Tax Rate |
The income taxes calculated at the effective tax rate reconcile as follows:
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Year ended September 30, |
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2024 |
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2023 |
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2022 |
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Net profit before tax |
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293,782 |
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153,652 |
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250,524 |
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Expected income tax expense at a 25% statutory UK tax rate (prior period: 25% / 22.8% statutory UK and Luxemburg tax rate) |
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(73,446 |
) |
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(38,413 |
) |
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(57,120 |
) |
Increased/ decreased by: |
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- Non-deductible expenses for tax purposes |
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(2,175 |
) |
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(2,699 |
) |
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(1,812 |
) |
- Non-deductible share-based compensation |
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(1,098 |
) |
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(19,880 |
) |
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— |
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- Change in permanent items |
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— |
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687 |
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— |
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- Minimum Taxation |
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(1,915 |
) |
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— |
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— |
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- Income exempted from tax |
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1,247 |
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— |
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— |
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- Previous years taxes |
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(5,396 |
) |
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(5,461 |
) |
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— |
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- Changes in non-recognition of deferred tax assets on temporary differences/tax loss carry forwards |
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(11,369 |
) |
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(8,400 |
) |
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(783 |
) |
- Tax rate differences |
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(13,410 |
) |
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(5,628 |
) |
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(14,202 |
) |
- Tax rate changes |
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2,461 |
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(142 |
) |
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— |
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- Other |
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2,921 |
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1,306 |
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10,504 |
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Effective income tax expense |
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(102,180 |
) |
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(78,630 |
) |
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(63,413 |
) |
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| Schedule of Net Deferred Tax Assets and Liabilities |
The net deferred tax assets and liabilities mainly relate to the following differences between IFRS and the tax base and are shown in the following table:
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September 30, 2024 |
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September 30, 2023 |
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Assets |
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Liabilities |
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Assets |
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Liabilities |
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Trade receivables |
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45 |
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149 |
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223 |
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— |
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Inventories |
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64,093 |
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4,385 |
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59,714 |
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2,602 |
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Other current assets |
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79 |
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2,413 |
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30 |
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125 |
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Property, plant and equipment |
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6,712 |
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9,580 |
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1,240 |
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9,005 |
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Right-of-use assets |
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— |
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45,681 |
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— |
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27,037 |
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Intangible assets |
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— |
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204,456 |
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— |
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168,297 |
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Other current financial liabilities |
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12,025 |
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— |
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7,571 |
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— |
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Other current liabilities |
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2,450 |
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|
926 |
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|
674 |
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737 |
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Current provisions |
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10,103 |
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3,012 |
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8,815 |
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627 |
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Other non-current financial liabilities |
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37,713 |
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7,363 |
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22,245 |
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17,433 |
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Tax loss and interest carryforwards |
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13,861 |
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— |
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15,559 |
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— |
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Deferred tax assets (liabilities) |
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147,080 |
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277,966 |
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116,069 |
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225,863 |
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Offsetting |
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(146,963 |
) |
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(146,963 |
) |
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(116,069 |
) |
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(116,069 |
) |
Deferred tax assets (liabilities) on balance sheet |
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117 |
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131,003 |
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— |
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109,794 |
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| Schedule of Deferred Taxes |
The deferred taxes developed as follows:
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September 30, 2024 |
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September 30, 2023 |
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Net amount at October 1 |
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(109,794 |
) |
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(88,261 |
) |
thereof deferred tax assets |
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— |
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4,590 |
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thereof deferred tax liabilities |
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(109,794 |
) |
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(92,851 |
) |
Taxes charged: |
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to income statement |
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(23,814 |
) |
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(27,781 |
) |
to other comprehensive income |
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Exchange differences |
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2,722 |
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6,249 |
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Net amount at September 30 |
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(130,886 |
) |
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(109,794 |
) |
thereof deferred tax assets |
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117 |
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— |
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thereof deferred tax liabilities |
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(131,003 |
) |
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(109,794 |
) |
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| Schedule of Unrecognised Deferred Taxes |
For the following (gross) items, no deferred taxes were recognized:
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September 30, 2024 |
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September 30, 2023 |
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Tax loss carry forwards |
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99,851 |
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53,050 |
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99,851 |
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53,050 |
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