20 Financial Expenses
The interest expenses mainly relate to interest expense on financial liabilities measured at amortized cost as well as prepayment penalties for financing measures.
in € million |
2018 |
2019 |
|---|---|---|
|
|
|
Interest expense from non-derivative financial liabilities |
350.9 |
349.7 |
Swaps (current interest expense for the period) |
15.4 |
17.2 |
Effects from the valuation of non-derivative financial instruments |
14.9 |
-18.9 |
Effects from the valuation of swaps |
15.4 |
17.9 |
Prepayment penalties and commitment interest |
8.4 |
28.1 |
Interest accretion to provisions |
9.1 |
10.0 |
Interest from leases |
5.6 |
14.0 |
Other financial expenses |
1.1 |
-0.5 |
|
420.8 |
417.5 |
|
|
|
The prepayment penalties include the fees for the unscheduled repayment of loans during the fixed interest period.
A reconciliation of net interest to net interest to be classified in accordance with IFRS 9 is shown in the following table:
in € million |
2018 |
2019 |
|---|---|---|
|
|
|
Interest income |
5.8 |
8.9 |
Interest expense |
-420.8 |
-417.5 |
Net interest |
-415.0 |
-408.6 |
|
|
|
Less: |
|
|
Net interest from provisions for pensions in acc. with IAS 19 |
8.6 |
8.6 |
Net interest from other provisions in acc. with IAS 37 |
0.5 |
1.4 |
Net interest from leases |
5.6 |
14.0 |
Net interest to be classified |
-400.3 |
-384.6 |
|
|
|
The net interest classified pursuant to IFRS 9 is as follows:
in € million |
2018 |
2019 |
|---|---|---|
|
|
|
Financial assets measured at (amortized) cost |
5.7 |
8.9 |
Derivatives measured at FV through P&L |
-30.8 |
-35.1 |
Financial liabilities measured at (amortized) cost |
-375.2 |
-358.4 |
Classification of net interest |
-400.3 |
-384.6 |
|
|
|