Annual Report 2020

20 Interest Expenses

The interest expenses mainly relate to interest expense on financial liabilities measured at amortized cost.

in € million

2019

2020

 

 

 

Interest expense from non-derivative financial liabilities

349.7

374.0

Swaps (current interest expense for the period)

17.2

16.8

Effects from the valuation of non-derivative financial instruments

–18.9

–48.6

Effects from the valuation of swaps

17.9

42.4

Prepayment penalties and commitment interest

28.1

6.2

Interest accretion to provisions

10.0

6.2

Interest from leases

14.0

16.1

Other financial expenses

–0.5

–1.7

 

417.5

411.4

 

 

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

2019

2020

 

 

 

Interest income

8.9

21.9

Interest expense

–417.5

–411.4

Net interest

–408.6

–389.5

 

 

 

Less:

 

 

Net interest from provisions for pensions in acc. with IAS 19

8.6

5.6

Net interest from other provisions in acc. with IAS 37

1.4

0.6

Net interest from leases

14.0

16.1

Net interest to be classified

–384.6

–367.2

 

 

The net interest classified pursuant to IFRS 9 is as follows:

in € million

2019

2020

 

 

 

Financial assets measured at (amortized) cost

8.9

21.8

Derivatives measured at FV through P&L

–35.1

–59.2

Financial liabilities measured at (amortized) cost

–358.4

–329.8

Classification of net interest

–384.6

–367.2