13 Interest Expenses
Interest Expenses
in € million | Jan. 1–June 30, 2022 | Jan. 1–June 30, 2023 | |||
Interest expense from non-derivative financial liabilities | 253.7 | 363.4 | |||
Swaps (current interest expense for the period) | 12.1 | -20.3 | |||
Effects from the valuation of non-derivative financial instruments | -32.2 | -4.7 | |||
Effects from the valuation of swaps | -94.3 | 21.2 | |||
Prepayment penalties and commitment interest | 7.8 | 4.5 | |||
Interest accretion to provisions | 8.1 | 9.8 | |||
Interest from leases | 8.5 | 9.9 | |||
Other financial expenses | -11.2 | -0.6 | |||
152.5 | 383.2 | ||||
The interest expenses for non-derivative financial liabilities reflect the comparatively higher interest conditions for refinancing over the last twelve months.
The change in the valuation of swaps was influenced by the marked increase in interest rates in the previous year. The reporting year, on the other hand, is characterized by slight adjustments to the future swap interest rates observed on the market, as well as by the interest expenses associated with the drop in the fair value of swaptions settled in the reporting period.