7 – Financial result (XLS:) Download Financial result (Million €) H1 2019 2018 Dividends and similar income 21 14 Income from the disposal of shareholdings 4 12 Income from profit transfer agreements 1 1 Income from tax allocation to shareholdings 0 0 Income from other shareholdings 26 27 Expenses from loss transfer agreements (30) (11) Write-downs on / losses from the sale of shareholdings (1) − Expenses from other shareholdings (31) (11) Net income from shareholdings (5) 16 Interest income from cash and cash equivalents 85 70 Interest and dividend income from securities and loans 7 8 Interest income 92 78 Interest expenses (334) (238) Interest result (242) (160) Net interest income from overfunded pension plans and similar obligations − 1 Income from the capitalization of borrowing costs 16 14 Miscellaneous financial income − − Other financial income 16 15 Write-downs on / losses from securities and loans (4) (12) Net interest expense from underfunded pension plans and similar obligations (77) (66) Net interest expense from other long-term personnel obligations (1) (1) Unwinding the discount on other noncurrent liabilities (2) (4) Miscellaneous financial expenses (85) (161) Other financial expenses (169) (244) Other financial result (153) (229) Financial result (400) (373) Net income from shareholdings decreased from €16 million to minus €5 million, primarily due to higher expenses from loss transfer agreements. The interest result declined by €82 million in the first half of 2019, from minus €160 million to minus €242 million. This was mainly attributable to higher interest expenses. The net interest expense from underfunded pension plans and similar obligations rose year on year as a result of the higher net defined benefit liability as of January 1, 2019. The decline in other financial expenses was primarily due to lower expenses for hedging bonds and U.S. dollar commercial paper against interest and currency risk. back next