Annual Report 2024

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32 » Financial Income/Financial Expenses

Financial result consists of the following:

Financial income € in millions

 

 

Year ending Dec. 31, 2024

 

Year ending Dec. 31, 2023

Interest income from financial instruments measured at amortized cost

 

57

 

39

Interest income from non-financial assets

 

0

 

0

Other

 

44

 

40

Financial income

 

101

 

79

Financial expenses € in millions

 

 

Year ending Dec. 31, 2024

 

Year ending Dec. 31, 2023

Interest expense on financial instruments measured at amortized cost

 

196

 

157

Thereof: interest expense on lease liabilities

 

99

 

86

Interest expense on other provisions and non-financial liabilities

 

25

 

3

Net foreign exchange losses

 

93

 

121

Other

 

2

 

2

Financial expenses

 

317

 

282

Interest income from financial instruments, measured at amortized cost, mainly consists of interest income from bank deposits and loans calculated using the ‘effective interest method.’

Interest income/expense from financial instruments at fair value through profit or loss mainly includes interest payments from investment funds as well as net interest payments from interest derivatives not being part of a hedging relationship. In 2024, as well as in the previous year, there were no interest income/expenses from financial instruments at fair value through profit or loss. Unrealized gains/losses from fair value measurement of such financial assets are shown in other financial income or expenses.

Interest expense on financial instruments measured at amortized cost mainly includes interest on lease liabilities as well as interest on borrowings calculated using the ‘effective interest method.’

Interest expense on other provisions, and non-financial liabilities in particular, include effects from the measurement of other provisions at present value and interest on non-financial liabilities such as tax payables.

Information regarding investments, borrowings, and financial instruments is also included in these Notes.  SEE NOTE 13  SEE NOTE 16  SEE NOTE 28