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