The result from investments in affiliated companies mainly comprised the result of equity-method measurement of the €18 million (previous year: €9 million) loss from the investment in PO JV, LP, Houston, Texas (United States), and the €1 million (previous year: €5 million) gain from Paltough Industries (1998) Ltd., Kibbutz Ramat Yohanan (Israel). This figure also included €2 million (previous year: €2 million) in dividend income from other equity investments.
Net interest expense was comprised as shown in the following table:
| Net interest expense | ||
|---|---|---|
| 2024 | 2025 | |
| € million | € million | |
| Expenses | ||
| Interest and similar expenses | (103) | (89) |
| Interest expenses from forward exchange contracts | (42) | (44) |
| Income | ||
| Interest and similar income | 37 | 20 |
| Interest income from forward exchange contracts | 19 | 16 |
| Total | (89) | (97) |
Interest and similar expenses primarily resulted from interest expense on bonds issued by Covestro AG totaling €37 million (previous year: €44 million), on leases totaling €29 million (previous year: €30 million), and on Schuldschein loans issued by Covestro AG in the amount of €14 million (previous year: €19 million).
Interest and similar income resulted mainly from short-term investments and bank balances.
Interest income and expense 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 | ||
|---|---|---|
| 2024 | 2025 | |
| € million | € million | |
| Interest portion of interest-bearing provisions | (14) | (24) |
| Exchange gain/(loss) | (4) | 1 |
| Miscellaneous financial expenses | (5) | (10) |
| Total | (23) | (33) |
Among other things, expenses from the interest portion of interest-bearing provisions included net interest expense from pension provisions and similar obligations amounting to €11 million (previous year: €14 million).
Among other things, other financial expenses (net presentation) included expenses relating to fees in connection with financing arrangements amounting to €4 million (previous year: €3 million).