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|
3rd Quarter |
|
January – September |
||
|---|---|---|---|---|---|
Million € |
2009 |
2008 |
|
2009 |
2008 |
Income from companies accounted for |
33 |
21 |
|
49 |
32 |
Income from participations in affiliated |
4 |
13 |
|
72 |
52 |
Income from the disposal of participations |
1 |
1 |
|
1 |
5 |
Income from profit transfer agreements |
3 |
2 |
|
7 |
5 |
Income from tax allocation to participating interests |
– |
– |
|
1 |
1 |
Other income from participations |
8 |
16 |
|
81 |
63 |
Losses from loss transfer agreements |
(1) |
6 |
|
(2) |
(1) |
Write-downs/losses from the sale of participations |
(3) |
(7) |
|
(6) |
(7) |
Other expenses from participations |
(4) |
(1) |
|
(8) |
(8) |
Interest income from cash and cash equivalents |
24 |
30 |
|
68 |
83 |
Interest and dividend income from securities and loans |
6 |
9 |
|
20 |
39 |
Interest income |
30 |
39 |
|
88 |
122 |
Interest expense |
(199) |
(140) |
|
(538) |
(433) |
Expected income from plan assets |
168 |
170 |
|
490 |
510 |
Income from plan assets to cover |
8 |
4 |
|
14 |
17 |
Income from capitalization of construction-period interest |
16 |
10 |
|
44 |
32 |
Write-ups/profits from the sale of securities and loans |
(2) |
– |
|
14 |
– |
Other financial income |
190 |
184 |
|
562 |
559 |
Interest accrued on pension obligations |
(206) |
(163) |
|
(567) |
(488) |
Interest accrued on other long-term personnel provisions |
(11) |
(9) |
|
(32) |
(27) |
Expenses from other long-term personnel obligations |
(14) |
(9) |
|
(34) |
(33) |
Write-downs/losses from the |
– |
(2) |
|
(10) |
(7) |
Other financial expenses |
– |
25 |
|
(25) |
21 |
Other financial result |
(231) |
(158) |
|
(668) |
(534) |
Financial result |
(173) |
(39) |
|
(434) |
(199) |
The positive result from companies accounted for using the equity method primarily resulted from gains on loans in U.S. dollars and euros at OAO Severneftegazprom due to the appreciation of the Russian ruble.
The higher interest expenses can be attributed to the higher level of debt. Lower interest levels in the United States and in Europe had an offsetting effect. The decline in interest income was due in particular to the partial repayment of the loan granted to OAO Severneftegazprom in the previous year.
The lower level of expected income from pension plan assets can be attributed to the decline in pension plan assets compared with the previous year.
Additional pension obligations occurred due to the acquisition of Ciba. As a result, expenses for interest accrued on pension obligations and similar obligations increased.
