Page 56 - KELAG Annual Report 2017
P. 56

Interest on loans and borrowings                   -13.5          -13.5
            Capitalised borrowing costs pursuant to IAS 23       0.9           3.3
            Net interest expenses from personnel-related obligations   -2.8   -3.9
            TOTAL INTEREST RESULT                              -15.4         -14.0











            Income from investments and non-consolidated subsidiaries   0.3    0.2
            Income from securities and loans                     0.4           0.4
            Income from the disposal of securities               0.5           0.0
            TOTAL OTHER INVESTMENT INCOME                       1.2            0.6



           Income from investments is presented in the table above; expenses from investments of around
           EUR -0.7m (prior year: EUR 0.0m) largely result from disposals of securities.










            Current income taxes/tax allocation                -15.7          -17.5
            Deferred income taxes                               -5.6          -4.7
            Tax income/expenses relating to other periods       -0.7          -0.2
              TOTAL INCOME TAXES                               -22.0         -22.4



           The tax expense in the 2017 reporting period of EUR -22.0m is EUR 3.9m lower than the imputed
           tax expense of EUR -25.9m, which would result from applying a tax rate of 25% to earnings before
           income taxes (EUR 103.4m). The difference between the imputed and reported tax expense in the
           Group is recorded in the table below:
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