Changes in equity

in € millions

Subscribed share capital

Additional paid-in capital

Cashflow hedge reserve

Cumulative translation reserves

Other (legal) reserves and undis­tributed profit

Share­holders’ equity

Non­controlling interests

Group equity

*

Opening balance is adjusted for the effects of the implementation of IFRS 9 (€3 million negative on other reserves), and IFRS 15 (€43 million negative on other reserves and €5 million negative on non-controlling interests)

Balance at January 1, 2017

504

745

3

(47)

5,348

6,553

481

7,034

Profit for the period

240

240

21

261

Other comprehensive income

(11)

9

2

Comprehensive income for the period

(11)

9

242

240

21

261

Dividend

(8)

(8)

Equity-settled transactions

7

7

7

Issue of common shares

1

(1)

Share repurchase

(144)

(144)

(144)

Balance at March 31, 2017

505

744

(8)

(38)

5,453

6,656

494

7,150

 

 

 

 

 

 

 

 

 

Balance at December 31, 2017

505

769

15

(549)

5,125

5,865

442

6,307

Impact adoption IFRS 9 and IFRS 15

(46)

(46)

(5)

(51)

Balance at January 1, 2018 *

505

769

15

(549)

5,079

5,819

437

6,256

Profit for the period

253

253

21

274

Other comprehensive income

(1)

(72)

(46)

(119)

(6)

(125)

Comprehensive income for the period

(1)

(72)

207

134

15

149

Dividend

(2)

(2)

Equity-settled transactions

8

8

8

Issue of common shares

1

(1)

Balance at March 31, 2018

506

768

14

(621)

5,294

5,961

450

6,411

Shareholders’ equity

Shareholders’ equity increased from €5.9 billion at year-end 2017 to €6.0 billion at the end of March 31, 2018, mainly due to the net effect of:

  • Profit for the period of €253 million
  • Adverse currency effects of €72 million (including taxes)
  • Actuarial losses of €46 million (including taxes)
  • Opening balance adjustment for IFRS 9 and IFRS 15 of €46 million negative

Dividend

Our dividend policy is to pay a stable to rising dividend. A final 2017 dividend of €1.94 per share is proposed for approval at the AGM, which would make a total 2017 dividend of €2.50 (2016: €1.65) per share, up 52%.

There will be a stock dividend option, up to a maximum of 40% of the total dividend amount, with cash dividend as default. Please refer to the final page of this report for dividend payment dates.

In addition, a €1 billion special cash dividend, as advance proceeds for the separation of the Specialty Chemicals business, was paid on December 7, 2017.