NOTE B20 IFRS Net financial charges
- 18 NOTE B18 IFRS EBITDA
- 19 NOTE B19 IFRS EBIT
- 20 NOTE B20 IFRS Net financial charges
- 21 NOTE B21 IFRS Income taxes
- 22 NOTE B22 IFRS Profit from discontinued operations
- 23 NOTE B23 IFRS Profit for period
Net financial charges on an IFRS basis were €(298) million versus €(394) million on an underlying basis. The €(96) million adjustment made to IFRS net financial charges consists of:
- €32 million on net cost of borrowings, relating mainly to a one-time net debt management cost, i.e. the tender offer on senior bonds in early October.
- €(111) million reclassification of coupons on perpetual hybrid bonds, which are treated as dividends under IFRS, and as financial charges in underlying results.
- €(24) million reclassification of financial charges and realized foreign exchange result on the €-denominated debt of RusVinyl as net financial charges. The €3 million delta with the adjustment made to EBITDA is attributed to unrealized foreign exchange losses.
- €8 million for the net impact of decreasing discount rates on the valuation of environmental liabilities in the period.