Capital Structure, Investments, and Financing Activities

(40) Finance income and expenses/net gains and losses from financial instruments

Finance income and expenses were as follows:

Finance income and expenses

€ million

 

2024

 

2023

Interest income and similar income

 

164

 

153

Capital gain from disposal of debt instruments with subsequent measurement at amortized cost

 

3

 

1

Income from fair value changes from debt instruments with subsequent measurement at fair value through profit or loss

 

5

 

25

Income from fair value changes from equity instruments with subsequent measurement at fair value through profit or loss

 

 

Currency differences from financing activities

 

28

 

Other interest income

 

 

19

Finance income

 

200

 

197

 

 

 

 

 

Interest expense and similar expenses

 

-292

 

-319

Expenses from fair value changes from debt and equity instruments with subsequent measurement at fair value through profit or loss:

 

-7

 

2

Expenses from fair value changes of share-based compensation programs

 

-11

 

-2

Currency differences from financing activities

 

 

-1

Other interest expenses

 

 

-2

Finance costs

 

-309

 

-322

 

 

 

 

 

Financial result

 

-108

 

-125

Interest and similar income and expenses arose as follows:

Interest income and expenses

 

 

2024

 

2023

€ million

 

Interest
income

 

Interest expenses

 

Interest
income

 

Interest expenses

Financial instruments1

 

120

 

-215

 

90

 

-203

thereof: Financial assets

 

 

 

 

 

 

Subsequent measurement at fair value
at amortized cost

 

49

 

 

41

 

Subsequent measurement at fair value
through other comprehensive income

 

1

 

 

1

 

Subsequent measurement at fair value
through profit or loss

 

69

 

 

48

 

thereof: Financial debt

 

 

 

 

 

 

Subsequent measurement at fair value
at amortized cost

 

 

-215

 

 

-202

Subsequent measurement at fair value
through profit or loss

 

 

 

 

Leases

 

 

-25

 

 

-14

Pension provisions

 

 

-63

 

 

-61

Tax items

 

28

 

-14

 

39

 

-50

Other non-current provisions

 

 

-4

 

 

-5

Other interest income/expenses and similar income and expenses

 

16

 

-9

 

24

 

-9

Capitalized borrowing costs for

 

 

 

38

 

 

 

22

Property, plant and equipment

 

 

26

 

 

18

Other intangible assets

 

 

13

 

 

4

Interest income/expenses and similar income and expenses

 

164

 

-292

 

153

 

-319

1

Previous year’s figures have been adjusted.

The following table shows the development of net gains and losses, currency differences as well as dividend income from financial instruments (excluding items recognized in other comprehensive income) by measurement category:

Net gains and losses from financial instruments

 

 

 

 

 

 

 

 

Net gains and losses

€ million

 

 

 

Currency differences

 

Dividends

 

Impairment losses/reversal of impairment losses (net)

 

Fair value adjustments

 

Disposal gains/losses

 

Total

Financial assets

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Subsequent measurement at amortized cost

 

2024

 

1

 

 

 

-8

 

 

 

3

 

-5

 

2023

 

-3

 

 

 

-51

 

 

 

1

 

-50

Subsequent measurement at fair value through other comprehensive income

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Equity Instruments

 

2024

 

 

 

 

 

 

 

 

 

 

 

 

2023

 

 

 

 

 

 

 

 

 

 

 

thereof: investments derecognized

 

2024

 

 

 

 

 

 

 

 

 

 

 

 

2023

 

 

 

 

 

 

 

 

 

 

 

thereof: investments held

 

2024

 

 

 

 

 

 

 

 

 

 

 

 

2023

 

 

 

 

 

 

 

 

 

 

 

Debt Instruments

 

2024

 

 

 

 

 

 

 

 

 

2023

 

 

 

 

 

 

 

 

Subsequent measurement at fair value through profit or loss (without derivatives)

 

2024

 

1

 

 

 

 

43

 

 

 

43

 

2023

 

 

 

 

 

95

 

 

 

95

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Financial debt

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Subsequent measurement at amortized cost

 

2024

 

 

 

 

 

 

 

 

 

 

2023

 

 

 

 

 

 

 

 

 

Subsequent measurement at fair value through profit or loss (without derivatives)

 

2024

 

 

 

 

 

 

1

 

 

 

1

 

2023

 

 

 

 

 

 

1

 

 

 

1

Derivatives without a hedging relationship (net)

 

2024

 

 

 

 

 

 

133

 

 

 

133

 

2023

 

 

 

 

 

 

-18

 

 

 

-18

Total

 

2024

 

2

 

1

 

-8

 

177

 

3

 

171

 

2023

 

-3

 

 

-51

 

79

 

1

 

29

In the table above, interest income or expenses related to derivatives without a hedging relationship, with the exception of the virtual power purchase agreements, are reported as a component of fair value adjustments.

The currency result from equity instruments with subsequent measurement at fair value through other comprehensive income was recognized in other comprehensive income.

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