Financial result and net income

  • Financial result improves by 24% and net income improves by 8%
  • Earnings per share increase by €0.39 to €5.61

The financial result improved in 2014 to minus €423 million, compared with minus €560 million in the previous year.

Compared with 2013, net income from shareholdings rose by €274 million to €278 million, mostly due to special income from the disposal of our shares in VNG – Verbundnetz Gas AG.

The interest result improved by €24 million to minus €504 million. This was largely attributable to positive contributions from interest rate and currency swaps for variable interest rates on financial indebtedness.

Other financial result declined by €161 million to minus €197 million. This was mainly due to effects from the market valuation of options for the disposal of the share in Styrolution: Miscellaneous financial expenses amounted to €42 million in 2014, compared with miscellaneous financial income of €119 million in 2013.

At €7,203 million, income before taxes and minority interests was up by €603 million. Return on assets amounted to 11.7%, compared with 11.5% in the previous year.

Income taxes rose by €224 million to €1,711 million. The tax rate grew from 22.5% to 23.8%, predominantly as a result of earnings increases in countries with high tax rates, particularly Norway. These were partly offset by higher, largely tax-free income compared with the previous year that was related to the disposal of investments – mainly the 50% share in Styrolution Holding GmbH.

Income before minority interests rose by €379 million to €5,492 million. Minority interests increased from €321 million to €337 million.

Net income amounted to €5,155 million, exceeding the previous year’s level of €4,792 million. Earnings per share rose from €5.22 to €5.61.