Net financial result and taxes
€ million |
2017/181 |
2018/19 |
||
|---|---|---|---|---|
|
||||
Earnings before interest and taxes EBIT |
713 |
828 |
||
Earnings share of non-operating companies recognised at equity |
0 |
0 |
||
Other investment result |
0 |
−1 |
||
Interest income/expenses (interest result) |
−136 |
−119 |
||
Other financial result |
−2 |
1 |
||
Net financial result |
−137 |
−119 |
||
Earnings before taxes EBT |
576 |
709 |
||
Income taxes |
−216 |
−298 |
||
Profit or loss for the period from continuing operations |
359 |
411 |
||
Profit or loss for the period from discontinued operations after taxes |
−22 |
−526 |
||
Profit or loss for the period |
337 |
−115 |
||
Net financial result
The net financial result from continuing operations primarily comprises the interest result of €−119 million (2017/18: €−136 million) and the other financial result of €1 million (2017/18: €−2 million). Net interest result improved significantly as a result of more favourable refinancing terms.
- For more information about the net financial result, see the notes to the consolidated financial statements in no. 7 – earnings share of operating/non-operating companies recognised at equity, no. 8 – other investment result, no. 9 – net interest income/interest expenses and no. 10 – other financial result.
Taxes
At €298 million (2017/18: €216 million), recognised income tax expenses are €81 million higher than the previous year’s figures.
During the reporting period, the group tax rate for the continuing segment is 42.0% (2017/18: 37.6%). The group tax rate represents the relationship between recognised income tax expenses and earnings before taxes. The increase in the ratio in the current financial year is mainly attributable to impairments on deferred taxes on loss carry-forwards in Germany. The comparatively low ratio in the previous year includes positive one-off tax effects such as tax rate changes abroad and the reduction for risk provisions.
- For more information about income taxes, see the notes to the consolidated financial statements in no. 12 – income taxes.
€ million |
2017/181 |
2018/19 |
||
|---|---|---|---|---|
|
||||
Actual taxes |
173 |
215 |
||
thereof Germany |
(14) |
(9) |
||
thereof international |
(159) |
(206) |
||
thereof tax expenses/income for the current period |
(194) |
(221) |
||
thereof tax expenses/income of previous periods |
(−21) |
(−6) |
||
Deferred taxes |
43 |
83 |
||
thereof Germany |
(39) |
(104) |
||
thereof international |
(4) |
(−21) |
||
|
216 |
298 |
||