Operating segments
Group functions and consolidation
Group functions
In € million |
2016 |
2015 |
Operating expenses (net) |
–49.6 |
–27.9 |
Net investment income |
152.8 |
207.1 |
Earnings before taxes |
51.1 |
151.7 |
In the Group functions segment, operating expenses increased by 77.9 per cent to €49.6 million (2015: €27.9 million) due to investments in the context of the innovation and investment programme. Net investment income amounted to €152.8 million (2015: €207.1 million). Earnings before taxes fell to €51.1 million (2015: €151.7 million).
Consolidation
In € million |
2016 |
2015 |
Net investment income |
–117.4 |
–197.9 |
Earnings before taxes |
–89.0 |
–182.8 |
Net investment income in the consolidation segment amounted in 2016 to €–117.4 million (2015: €–197.9 million). Earnings before taxes improved to €–89.0 million (2015: €–182.8 million).