Changes in equity

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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.

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