|
|
|
|
|
€ million |
|
2016 |
|
2015 |
|
|
|
|
|
|
|
|
|
|
Result from investments in joint ventures and associates |
|
0.2 |
|
3.3 |
Of which share of income from joint ventures |
|
3.2 |
|
4.2 |
Of which share of income from associated companies |
|
-3.0 |
|
-0.9 |
|
|
|
|
|
Other investment result |
|
|
|
|
Other investment expenses / investment income |
|
0.9 |
|
-0.2 |
Total |
|
0.9 |
|
-0.2 |
|
|
|
|
|
Net interest result |
|
|
|
|
Interest income |
|
6.0 |
|
7.3 |
Of which from available-for-sale financial instruments |
|
0.4 |
|
0.4 |
Of which from financial instruments, loans and receivables |
|
5.6 |
|
6.7 |
|
|
|
|
|
Interest expenses |
|
-42.4 |
|
-31.8 |
Of which from financial liabilities (excluding finance leases) |
|
-39.0 |
|
-29.8 |
Total |
|
-36.4 |
|
-24.5 |
|
|
|
|
|
Other financial result |
|
|
|
|
Interest effect of interest-bearing provisions / liabilities |
|
-50.0 |
|
-47.9 |
Other financial expenses / income |
|
-15.0 |
|
5.7 |
Total |
|
-65.0 |
|
-42.2 |
|
|
|
|
|
The income from investments in joint ventures and associates relates mainly to companies in China. This income includes not only the attributable net results for the year, but also the effects of the elimination of attributable intergroup profits and losses, and of other Group adjustments.
Borrowing costs of €1.2 million were capitalized in the reporting period, after €18.6 million a year earlier, resulting in a corresponding improvement in the net interest result. The average borrowing interest rate applied by the Group in the reporting year was 2.6 percent, compared with 3.0 percent the year before.
The interest effect of interest-bearing provisions includes net interest expenses from the accumulation of interest on pension obligations and calculated returns from plan assets totaling €44.0 million, versus €41.5 million in the prior year, and interest expenses and interest income from the accumulation and discounting of provisions of €6.0 million, versus €6.5 million in the previous year.
Other financial income and expenses primarily result from exchange-rate and interest-rate effects in connection with financial transactions and their hedging.