8. Other financial result

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€ million



Other financial income



thereof currency effects



thereof hedging transactions



Other financial expenses



thereof currency effects



thereof hedging transactions



Other financial result



thereof financial instruments of IAS 39 measurement categories:



loans and receivables incl. cash and cash equivalents



held to maturity



held for trading



available for sale



other financial liabilities



thereof fair value hedges:



underlying transactions



hedging transactions



thereof cash flow hedges:






The other financial income and expenses from financial instruments are assigned to measurement categories on the basis of the underlying transactions pursuant to IAS 39. Besides income and expenses from the measurement of financial instruments according to IAS 39, this also includes the measurement of foreign currency positions according to IAS 21.

The overall result from currency effects and measurement results from hedging transactions and hedging relationships totalled €–12 million (previous year: €–51 million). This figure results largely from foreign currency financings in Eastern Europe. Developments in individual Eastern European currencies, in particular, resulted in a positive result in currency effects as well as hedging transactions compared to the previous year. Valuation yields of commodity contracts for energy and fuels resulted in expenses of €2 million (previous year: expenses of €3 million).

For possible effects from currency risks, see no. 42 “Management of financial risks”.