Condensed consolidated statement of income

IFRS 16 “Leases” was adopted per January 1, 2019, applying the modified retrospective method. In the Statement of income January - September 2019, the Operating lease expenses (€83 million), previously recorded in operating income, are replaced by the depreciation charge on Right-of-use assets (€78 million; remains recorded in operating income) and by Interest expenses for the lease liability (€5 million; recorded in Net financing expenses). In addition we recorded a non-cash impairment charge of Right-of-use assets of €5 million, presented as identified items. The 2018 comparative figures have not been restated.

On a net basis, the adoption of IFRS 16 has led to an unchanged operating income and an increase of Net financing expenses by €5 million; Profit before tax and Profit for the period were €3 million lower.

The Specialty Chemicals business is reported as discontinued operations. Therefore, the results of the Specialty Chemicals business are included on the line “Profit for the period from discontinued operations” in the Condensed consolidated statement of income.