7 – Financial result
|
|
1st Half |
|
|---|---|---|---|
Million € |
|
2017 |
2016 |
Dividends and similar income |
|
19 |
19 |
Income from the disposal of shareholdings |
|
1 |
1 |
Income from profit transfer agreements |
|
3 |
1 |
Income from tax allocation to participating interests |
|
1 |
− |
Income from other shareholdings |
|
24 |
21 |
Losses from loss transfer agreements |
|
(10) |
(11) |
Write-downs of / losses from the disposal of shareholdings |
|
(3) |
− |
Expenses from other shareholdings |
|
(13) |
(11) |
Net income from shareholdings |
|
11 |
10 |
Interest income from cash and cash equivalents |
|
101 |
84 |
Interest and dividend income from securities and loans |
|
11 |
13 |
Interest income |
|
112 |
97 |
Interest expenses |
|
(290) |
(317) |
Interest result |
|
(178) |
(220) |
Net interest income from overfunded pension plans and similar obligations |
|
1 |
2 |
Net interest income from other long-term personnel obligations |
|
− |
− |
Income from capitalization of construction period interest |
|
37 |
48 |
Miscellaneous financial income |
|
− |
− |
Other financial income |
|
38 |
50 |
Write-downs on/losses from disposal of securities and loans |
|
− |
(1) |
Net interest expenses from underfunded pensions and similar obligations |
|
(88) |
(88) |
Net interest expense from other long-term personnel obligations |
|
− |
(2) |
Interest compounding on other noncurrent liabilities |
|
(19) |
(21) |
Miscellaneous financial expenses |
|
(90) |
(93) |
Other financial expenses |
|
(197) |
(205) |
Other financial result |
|
(159) |
(155) |
Financial result |
|
(326) |
(365) |
Net income from shareholdings in the first half of 2017 matched the level of the previous first half. Losses from the disposal of shareholdings in the first half of 2017 mainly pertained to the liquidation of Cognis Chemicals Trade (Shanghai) Co. Ltd., Shanghai, China.
The interest result rose by €42 million in the first half of 2017, from minus €220 million to minus €178 million. Interest income from combined interest and cross-currency swaps was higher than in the first half of 2016. The reduction in interest expense resulted mainly from more favorable refinancing conditions.
Compared with the previous first half, income from the capitalization of construction period interest fell considerably as major investment projects meanwhile started operations.
Net interest expenses from underfunded pension plans and other financial expenses both matched prior first-half levels.