18 Financial Expenses
The financial expenses mainly relate to interest expense on financial liabilities measured at amortized cost as well as transaction costs and prepayment penalties for financing measures.
in € million |
|
2017 |
|
2018 |
|
|
|
|
|
|
|
Interest expense from non-derivative financial liabilities |
|
299.0 |
|
350.9 |
|
Swaps (current interest expense for the period) |
|
5.3 |
|
15.4 |
|
Effects from the valuation of non-derivative financial instruments |
|
-8.8 |
|
14.9 |
|
Effects from the valuation of swaps |
|
9.9 |
|
15.3 |
|
Transaction costs |
|
7.9 |
|
14.2 |
|
Prepayment penalties and commitment interest |
|
16.4 |
|
8.4 |
|
Interest expenses purchase price liabilities from put options/rights to reimbursement |
|
8.4 |
|
2.2 |
|
Interest accretion to provisions |
|
9.2 |
|
9.1 |
|
Other financial expenses |
|
5.7 |
|
18.7 |
|
|
|
353.0 |
|
449.1 |
|
|
|
|
|
|
|
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 |
|
2017 |
|
2018 |
|
|
|
|
|
|
|
Interest income |
|
25.1 |
|
6.8 |
|
Interest expense |
|
-353.0 |
|
-449.1 |
|
Net interest |
|
-327.9 |
|
-442.3 |
|
Less: |
|
|
|
|
|
Net interest from provisions for pensions in acc. with IAS 19 |
|
8.7 |
|
8.6 |
|
Net interest from other provisions in acc. with IAS 37 |
|
0.3 |
|
0.5 |
|
Net interest from finance leases in acc. with IAS 17 |
|
5.6 |
|
5.6 |
|
Net interest to be classified |
|
-313.3 |
|
-427.6 |
|
|
|
|
|
|
|
The net interest classified pursuant to IFRS 9 is as follows:
in € million |
|
2017 |
|
2018 |
|
|
|
|
|
|
|
Financial assets measured at (amortized) cost |
|
2.5 |
|
3.5 |
|
Derivatives measured at FV through P&L |
|
-1.3 |
|
-29.7 |
|
Financial liabilities measured at (amortized) cost |
|
-314.5 |
|
-401.4 |
|
Classification of net interest |
|
-313.3 |
|
-427.6 |
|
|
|
|
|
|
|