Annual Report 2023

Annual Report 2023

6. Other Operating Income

(in € million)

 

 

2022

 

2023

Gains on disposals of property, plant, and equipment, and other assets

 

17

 

13

Income from the reversal of provisions

 

82

 

73

Miscellaneous other income

 

167

 

177

 

 

266

 

263

Gains on disposals of property, plant, and equipment, and other assets mainly resulted from the sale of the subsidiary Beiersdorf Daily Chemical (Wuhan) Co., Ltd. in the amount of €11 million. Income from the reversal of provisions resulted, among other things, from provisions for personnel, litigation risk and other provisions that were not required. These mainly include €15 million for the reversal of provisions for performance-related purchase price components in connection with the acquisition of Chantecaille in fiscal year 2022. The reversal of the performance-related purchase price component due to the reassessment of the contractually defined valuation parameters and the impairment of goodwill (see Note 11) was driven by both the delayed entry into the Chinese market and the general market development in China and South Korea, as well as the unfavorable development of the cost of capital with regard to the impairment. Other income includes income from the reversal of deferred liabilities that are not required as well as valuation allowances on receivables and other non-periodic income. Furthermore they include income of €24 million from insurance benefits relating to the technical incident on January 24, 2023 at the tesa plant Concagno. This is offset by other operating expenses in the amount of €10 million (see Note 07)

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