The result from investments in affiliated companies mainly comprises the result of equity-method measurement of the €9 million (previous year: €22 million) loss from the associate PO JV, LP, Houston, Texas (United States), and the €5 million (previous year: €2 million) gain from Paltough Industries (1998) Ltd., Kibbutz Ramat Yohanan (Israel). This figure also included €2 million (previous year: €1 million) in dividend income from other affiliated companies.
Net interest expense was comprised as shown in the following table:
| Net interest expense | ||
|---|---|---|
| 2023 | 2024 | |
| € million | € million | |
| Expenses | ||
| Interest and similar expenses | (102) | (103) |
| Interest expenses from forward exchange contracts | (58) | (42) |
| Income | ||
| Interest and similar income | 44 | 37 |
| Interest income from forward exchange contracts | 26 | 19 |
| Total | (90) | (89) |
Interest and similar expenses primarily resulted from interest expenses on bonds issued by Covestro AG totaling €44 million (previous year: €46 million), on leases totaling €30 million (previous year: €28 million), and on Schuldschein loans issued by Covestro AG in the amount of €19 million (previous year: €27 million).
Interest and similar income resulted mainly from short-term investments and bank balances.
Interest income and expenses from forward exchange contracts included interest rate-driven changes in the fair value and the forward element.
The other financial result was comprised as shown in the following table:
| Other financial result | ||
|---|---|---|
| 2023 | 2024 | |
| € million | € million | |
| Interest portion of interest-bearing provisions | (9) | (14) |
| Exchange gain/(loss) | 7 | (4) |
| Miscellaneous financial expenses | (2) | (5) |
| Total | (4) | (23) |
Expenses from the interest portion of interest-bearing provisions mainly include net interest expense from pension provisions and similar obligations amounting to €14 million (previous year: €16 million).
Other financial expenses (net presentation) primarily included expenses relating to fees in connection with financing arrangements amounting to €3 million (previous year: €3 million).