16. Financial Result

Financial Result

in € thousand

 

2015

 

2014

Earnings from associates accounted for using the equity method

 

3,728

 

5,260

Income from exchange rate differences

 

13,800

 

11,104

Interest income from non-affiliated companies and non-consolidated affiliated companies

 

1,333

 

1,013

Income from adjustment of settlement obligations to shareholders with non-controlling interests

 

804

 

0

Interest income from bank balances

 

414

 

663

Interest income from plan assets for working lifetime accounts

 

230

 

435

Income from interest rate hedges

 

155

 

246

Interest income

 

16,736

 

13,461

Expenses from exchange rate differences

 

21,761

 

21,937

Interest expenses on bank borrowing

 

8,710

 

8,059

Interest portion of pension provisions

 

7,849

 

12,836

Interest included in lease payments

 

5,550

 

4,956

Interest expenses to non-affiliated companies and non-consolidated affiliated companies

 

4,059

 

5,418

Interest portion of other provisions

 

1,762

 

2,131

Expenses from interest rate hedges

 

411

 

549

Expenses from the adjustment of settlement obligations to shareholders with non-controlling interests

 

0

 

2,571

Interest expenses

 

50,102

 

58,459

Net interest income

 

- 33,366

 

- 44,998

Income from other equity investments

 

944

 

544

Other financial result

 

944

 

544

 

 

- 28,694

 

- 39,194

Earnings from companies accounted for using the equity method relate to the pro rata annual earnings of the joint ventures and associates. see also Note 25

Income and expenses from exchange rate differences in both the reporting period and the previous year are mainly due to the performance of the Ukrainian hryvnia.

Please refer to Note 6 for details of income from the adjustment of settlement obligations to non-controlling interests, which totalled € 804 thousand (previous year: expenses of € 2,571 thousand).