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Post-employment benefits (Tables)
 12 Months Ended
Mar. 31, 2021
Disclosure Of Employee Benefits [Abstract]  
Disclosure of net defined benefit liability (asset)
(EUR thousand)As of March 31
202120202019
Balance sheet obligations for:
Pension benefits liability7,020 7,619 5,062 
Long service leave536 343 — 
Income statement (credit) charge for:
Pension benefits1,106 1,155 (341)
Long service leave199 76 — 
Other comprehensive income:
Remeasurements of post employment benefit obligations(52)2,162 (428)
The table below reconciles the net obligation in respect of the Group’s pension plans and other post-employment benefit plans with the amounts recognized in the consolidated financial statements.
(EUR thousand)For the financial year ended March 31
Changes in the present value of defined benefit obligation202120202019
Defined benefit obligation as of April 116,939 12,822 12,620 
Current service cost721 1,202 1,224 
Interest expense99 166 128 
Contributions by employees1,473 838 1,101 
(Gain)/loss from change in demographic assumptions— — 43 
(Gain)/loss from change in financial assumptions(130)1,915 (439)
Experience (gains)/loss94 211 (44)
Benefits paid(1,369)(884)(1,036)
Settlements23 (3)(1,206)
Exchange differences(701)671 431 
Defined benefit obligation as of March 3117,149 16,939 12,822 
(EUR thousand)For the financial year ended March 31
Changes in the fair value of plan assets202120202019
Opening balance fair value of plan assets9,320 7,760 7,213 
Acquisition of subsidiary
Interest income28 79 53 
Return on plan assets (excluding amounts included in net interest expense)16 (36)(12)
Contributions by employer684 714 717 
Contributions by employees1,473 838 1,101 
Benefits paid(981)(575)(919)
Settlements— — (668)
Exchange differences(410)540 275 
Closing balance fair value of plan assets as of March 3110,130 9,320 7,760 
(EUR thousand)For the financial year ended March 31
Amounts recognized in the income statement202120202019
Current service cost721 1,202 1,224 
Interest cost71 87 75 
Administrative cost— — (667)
Effect of any curtailments/settlements (+/-)23 (3)(1,206)
Unrealized FX impact291 (131)233 
Total net periodic cost (income)1,106 1,155 (341)
(EUR thousand)As of March 31
Position of the post-employment benefit plan202120202019
Present value of defined benefit obligation17,149 16,939 12,822 
Fair value of plan assets(10,130)(9,320)(7,760)
Deficit in the plan7,019 7,619 5,062 
Experience adjustments on defined benefit obligation(94)(211)44 
Disclosure of financial and demographic assumptions These calculations were based on the following financial and demographic assumptions:
(%)
As of March 31, 2021
AustriaSwitzerlandFranceItalyKoreaTurkey
Discount rate0.40 %0.20 %0.40 %0.30 %2.00 %12.50 %
Inflation rate—1.00 %—1.50 %——
Future salary increases3.00 %1.50 %2.00 %— 2.00 %15.00 %
Future pension increases——————
(%)
As of March 31, 2020
AustriaSwitzerlandFranceItalyKoreaTurkey
Discount rate0.90 %0.30 %0.90 %0.80 %2.00 %12.00 %
Inflation rate—1.00 %—1.50 %——
Future salary increases3.00 %1.50 %2.00 %— 2.00 %15.00 %
Future pension increases——————
(%)
As of March 31, 2019
AustriaSwitzerlandFranceItalyKoreaTurkey
Discount rate1.75 %0.90 %1.75 %1.60 %2.30 %16.00 %
Inflation rate—1.00 %0.00%1.50 %0.00%0.00%
Future salary increases3.00 %1.50 %2.00%0.00 %2.00 %15.00 %
Future pension increases——————
(Retirement age)
As of March 31, 2021
AustriaSwitzerlandFranceItalyKoreaTurkey
Retirement age:
- Male6265646760Individual
- Female6264626760Individual
(Retirement age)
As of March 31, 2020
AustriaSwitzerlandFranceItalyKoreaTurkey
Retirement age:
- Male6265646760Individual
- Female6264626760Individual
(Retirement age)
As of March 31, 2019
AustriaSwitzerlandFranceItalyKoreaTurkey
Retirement age:
- Male6265646760Individual
- Female6264626760Individual
Maturity profile of the post-employment benefit planAustriaSwitzerlandFranceItalyKoreaTurkey
Duration in years 12.1020.5016.409.8012.1013.30
Expected contributions as of March 31, 2021 in EUR thousands— 694 — — — — 
Maturity profile of the post-employment benefit planAustriaSwitzerlandFranceItalyKoreaTurkey
Duration in years13.5020.9016.4010.2012.9013.20
Expected contributions as of March 31, 2020 in EUR thousands— 725 — — — — 
Maturity profile of the post-employment benefit planAustriaSwitzerlandFranceItalyKoreaTurkey
Duration in years13.8019.9016.409.5013.2010.50
Expected contributions as of March 31, 2019 in EUR thousands— 699 — — — — 
Disclosure of fair value of plan assets
The table below shows the fair value of plan assets relating to the Group’s pension and other post-employment plans, split by asset category:
(EUR thousands)As of March 31
202120202019
Plan assets are comprised as follows:Value%Value%Value%
Equity instruments— 0.0 %— 0.0 %62 0.7 %
Debt instruments— 0.0 %— 0.0 %116 1.4 %
Euroland bonds— 0.0 %— 0.0 %61 0.7 %
Hold to maturity bonds— 0.0 %— 0.0 %149 1.8 %
Property— 0.0 %— 0.0 %44 0.5 %
Other assets— 0.0 %— 0.0 %54 0.6 %
Alternative investments— 0.0 %— 0.0 %— 0.0 %
Insurance contracts10,130 100.0 %9,320 100.0 %7,843 94.3 %
Total10,130 100 %9,320 100 %8,329 100 %
The pension plans in Switzerland are the only funded plans in the Group.
Disclosure of sensitivity analysis for actuarial assumptions
The tables below summarizes the percentage change in the Net defined benefit obligation as of March 31, as a result of sensitizing each of the metrics (discount rate, salary growth rate, and actuarial basis (mortality)) on a country-level:
(%)
As of March 31, 2021
Sensitivity analysisAustriaSwitzerlandFranceItalyKoreaTurkey
Discount rate - decrease by 0.5%
+6.2 %+11.0 %+8.6 %+5.1 %+6.2 %+6.2 %
Discount rate - increase by 0.5%
(5.8 %)(9.4 %)(7.8 %)(4.7 %)(5.7 %)(5.7 %)
Salary growth rate - decrease by 0.5%
(5.7 %)(1.1 %)(7.7 %)(4.4 %)(5.6 %)(5.5 %)
Salary growth rate - increase by 0.5%
+6.0 %+1.2 %+8.4 %+4.7 %+6.0 %+6.0 %
Actuarial basis (mortality) (10.0)%
—+1.7 %— — — — 
Actuarial basis (mortality) 10.0%
—(1.6 %)————
(%)
As of March 31, 2020
Sensitivity analysisAustriaSwitzerlandFranceItalyKoreaTurkey
Discount rate - decrease by 0.5%
+6.9 %+11.2 %+8.6 %+5.3 %+6.6 %+6.1 %
Discount rate - increase by 0.5%
-6.4 %-9.6 %-7.7 %-4.8 %-6.1 %-5.6 %
Salary growth rate - decrease by 0.5%
-6.3 %-1.4 %-7.7 %-4.6 %-6.0 %-5.5 %
Salary growth rate - increase by 0.5%
+6.7 %+1.4 %+8.4 %+5.0 %+6.5 %+5.9 %
Actuarial basis (mortality) (10.0)%
—+1.6 %————
Actuarial basis (mortality) 10.0%
—-1.5 %————
(%)
As of March 31, 2019
Sensitivity analysisAustriaSwitzerlandFranceItalyKoreaTurkey
Discount rate - decrease by 0.5%
+7.2 %+10.6 %+8.5 %+4.9 %+6.8 %+4.7 %
Discount rate - increase by 0.5%
-6.7 %-9.1 %-7.7 %-4.5 %-6.2 %-4.4 %
Salary growth rate - decrease by 0.5%
-6.6 %-1.4 %-7.7 %-4.3 %-6.1 %-4.4 %
Salary growth rate - increase by 0.5%
+7.1 %+1.5 %+8.4 %+4.6 %+6.6 %+4.7 %
Actuarial basis (mortality) (10.0)%
—+1.4 %————
Actuarial basis (mortality) 10.0%
—-1.2 %————