24. Equity

The share capital amounted to € 115,089,210.88 and is divided into 44,956,723 no-par-value bearer shares, each with a notional interest of € 2.56. The share capital is fully paid in.

The Executive Board is empowered, subject to the approval of the Supervisory Board, to increase the share capital by February 23, 2021 by up to € 57,544,604.16 once or in several installments.

The share capital has been conditionally increased by up to € 52,313,277.44 by issuing up to 20,434,874 new no-par-value bearer shares with a proportionate notional amount per share of € 2.56 of the share capital (conditional capital increase). It will be used to grant shares to the holders or creditors of bonds with warrants and/or convertible bonds and participation rights and/or participating bonds that can be issued by February 28, 2017.

Generated group equity comprises consolidated net income, the revenue reserves of all group companies, the accumulated unappropriated earnings of the subsidiaries since their initial consolidation and the accumulated amounts resulting from consolidation adjustments recognized in profit or loss. In addition, the effects deriving from the remeasurement of the net liability resulting from the defined benefit pensions plans (after taxes), which are recorded directly in equity, are also included.

The legal reserve of € 6,391 thousand, which was not available for distribution, was also included in this amount. The change in generated group equity from € 1,523,444 thousand as at September 30, 2015 to € 1,520,781 thousand as at September 30, 2016 included the dividend payment of € 60,692 thousand, negative effects of € 63,823 thousand (after taxes) recognized in equity deriving from the remeasurement of the net liability resulting from the defined benefit pensions plans and the consolidated net income for fiscal year 2015/16 of € 121,852 thousand.

Changes in accumulated other comprehensive income amounting in total to € 25,229 thousand (previous year: € –8,235 thousand) mainly comprised gains and losses of € 28,050 thousand (previous year: € –12,189 thousand) deriving from the measurement of derivative financial instruments at market prices in conjunction with cash flow hedges.

An amount of € –33,561 thousand (previous year: € –43,576 thousand) was transferred during the period from other comprehensive income to the consolidated income statement in conjunction with cash flow hedge accounting, which is primarily reflected in the cost of materials.

The non-controlling interests amounting to € 2,769 thousand (previous year: € 2,778 thousand) comprised the interests of non-group shareholders in the equity of two companies that are fully consolidated by Aurubis AG. As at September 30, 2016, the companies concerned were Deutsche Giessdraht GmbH, Emmerich, and Aurubis Bulgaria AD, Pirdop. The change in non-controlling interests includes proportional amounts of the dividend payment amounting to € 1,088 thousand, effects of € –588 thousand from the remeasurement of the net liability resulting from the defined benefit pensions plans (after taxes), which are recorded directly in equity, and € 1,667 thousand of the consolidated net income for fiscal year 2015/16.

Changes in equity are presented in detail in the consolidated statement of changes in equity.