Selected notes to the consolidated income statement
Net financial income / expenses
The change in financial income and financial expenses is mainly attributable to currency effects. At the time of the early repayment of certain financial liabilities (see also the ‘Financial liabilities’ section below), deferred borrowing costs of €2.7 million were recognised under financial expenses.
In the consolidated interim financial statements, income taxes for the current reporting period are calculated on the basis of the expected income tax rate for the full year.
Earnings per share
Basic earnings per share is calculated by dividing the net income (loss) for the period accruing to the KION GROUP AG shareholders by the weighted average number of shares outstanding during the reporting period (H1 2017: 110,680,763 no-par-value shares; H1 2016: 98,739,950 no-par-value shares; Q2 2017: 112,713,426 no-par-value shares; Q2 2016: 98,739,950 no-par-value shares). In the first half of 2017, the KION Group generated net income accruing to the shareholders of KION GROUP AG of €149.6 million (H1 2016: €95.5 million). Information about determining the net income (loss) for the period accruing to the KION GROUP AG shareholders can be found in the consolidated income statement. Basic earnings per share for the reporting period came to €1.35 (H1 2016: €0.97). The 164,486 no-par-value treasury shares repurchased by KION GROUP AG were not included in this figure as at 30 June 2017 (30 June 2016: 160,050).
Diluted earnings per share is calculated by adding the potential dilutive no-par-value shares that employees can obtain for free under the employee share option programme to the weighted average number of shares outstanding during the reporting period. The calculation of diluted earnings per share was based on a weighted average for the first half of 2017 of 110,729,900 no-par-value shares issued (H1 2016: 98,770,779 no-par-value shares; Q2 2017: 112,763,760 no-par-value shares; Q2 2016: 98,771,614 no-par-value shares). Diluted earnings per share for the reporting period came to €1.35 (H1 2016: €0.97).