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9. Net interest income/interest expenses

The interest result can be broken down as follows:

€ million

2020/21

2021/22

Interest income

30

32

thereof from leases

(16)

(13)

thereof from post-employment benefits plans

(4)

(5)

thereof from financial instruments of the measurement categories according to IFRS 9

(7)

(10)

Interest expenses

−224

−189

thereof from leases

(−152)

(−137)

thereof from post-employment benefits plans

(−10)

(−11)

thereof from financial instruments of the measurement categories according to IFRS 9

(−53)

(−37)

Interest result

−194

−157

Interest income and interest expenses from financial instruments are assigned to the measurement categories according to IFRS 9 on the basis of the underlying transactions.

The interest expenses included here (of the measurement categories in accordance with IFRS 9) primarily include interest expenses for issued bonds (including the Euro Commercial Paper Programme) of €21 million (2020/21: €29 million) and for liabilities to banks of €11 million (2020/21: €16 million).

The decrease in interest expenses results equally from declining interest expenses from leases and from lower interest expenses for other financial liabilities compared to the previous year.

Commercial Paper Programme
Ongoing capital market programme typical of money markets that covers short-term financing needs. It facilitates the issuance of commercial papers (CP) as discounted, unsecured bearer bonds without standardised terms of maturity.
Glossary
IFRS (International Financial Reporting Standards)
Internationally applicable rules for financial reporting developed by the IASB.
Glossary
PY
Previous year Period of 12 months that is usually cited as a reference for statements in the annual report and refers to the financial year preceding the reporting year.
Glossary

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