Net financial result and taxes

€ million

2017/181

2018/19

1

Adjustment of previous year according to explanation in notes.

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.

Taxes

At €298 million (2017/18: €216 million), recognised income tax expenses are €81 million higher than the ’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

1

Adjustment of previous year according to explanation in notes.

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

Previous year
Period of 12 months, usually cited as reference for statements in an annual report.
Glossary