Taxes and Profit for the Period
Income taxes in the 2016 fiscal year came in at € -1,346.9 million, up considerably on the prior-year value of € -739.8 million as a result of valuation results. The effective income tax rate came to 34.9% in 2016, down considerably year-on-year (2015: 42.7%). Current income taxes rose from € 21.7 million in 2015 to € 50.2 million in 2016, mainly due to sales.
Profit for the period
In the 2016 fiscal year, the profit for the period came to € 2,512.9 million, up considerably on the value of € 994.7 million reported in 2015, which is mainly due to the full inclusion of GAGFAH, Franconia and SÜDEWO in 2016 as well as the valuation results.