NOTE B5 Underlying net financial charges
- Index
- 1 NOTE B1 Net sales
- 2 NOTE B2 Underlying raw material & energy costs
- 3 NOTE B3 Underlying EBITDA
- 4 NOTE B4 Underlying depreciation & amortization
- 5 NOTE B5 Underlying net financial charges
- 6 NOTE B6 Underlying income taxes
- 7 NOTE B7 Underlying profit from discontinued operations
- 8 NOTE B8 CAPEX
- 9 NOTE B9 Free Cash Flow
- 10 NOTE B10 Net working capital
- 11 NOTE B11 Underlying net debt
- 12 NOTE B12 CFROI
- 13 NOTE B13 Research & Innovation
In € million |
|
FY 2017 |
FY 2016 |
|||||
|
||||||||
Net cost of borrowings |
a |
(170) |
(224) |
|||||
Coupons on perpetual hybrid bonds |
b |
(111) |
(111) |
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Interests and realized foreign exchange gains (losses) on the RusVinyl joint venture |
c |
(24) |
(26) |
|||||
Cost of discounting provisions |
d |
(89) |
(103) |
|||||
Result from available-for-sale financial assets |
e |
– |
– |
|||||
Net financial charges(1) |
f = a+b+c+d+e |
(394) |
(464) |
Underlying net financial charges totaled €(394) million, 15% lower year on year. Net cost of borrowings fell as gross debt was reduced throughout 2016 and 2017, and as discounting costs on pensions dropped on lower discount rates.