The other financial income and expenses from financial instruments are assigned to measurement categories according to IFRS 9 on the basis of the underlying transactions. Besides income and expenses from the measurement of financial instruments (except derivatives in hedging relationships), this also includes the measurement of foreign currency positions.
€ million |
2021/22 |
2022/23 |
|---|---|---|
Other financial income |
727 |
1,030 |
thereof currency effects |
(252) |
(539) |
thereof hedging transactions |
(131) |
(56) |
Other financial expenses |
−1,148 |
−821 |
thereof currency effects |
(−646) |
(−305) |
thereof hedging transactions |
(−145) |
(−47) |
Other financial result |
−421 |
209 |
thereof from financial instruments of the measurement categories according to IFRS 9 |
(−402) |
(278) |
thereof impairment losses on receivables from finance leases |
(0) |
(−15) |
thereof cash flow hedges: |
|
|
ineffectiveness |
(2) |
(−4) |
The total comprehensive income from currency effects and measurement results from hedging transactions and hedging relationships totalled €244 million (2021/22: €−408 million). The main reason for the positive development of the other financial result is the exchange rate development of the Russian rouble. As a result, positive largely non-cash income arose from intra-group items.
The effect from the application of financial reporting in hyperinflationary economies had a positive impact on the other financial result; income of €400 million (2021/22: €338 million) was offset by expenses of €383 million (2021/22: €304 million).