[9] Other income
Other income breaks down as follows:
in € million |
2022 |
2021 |
|---|---|---|
Foreign currency exchange rate gains |
96.0 |
61.1 |
Income from reversal of provisions |
8.7 |
3.8 |
Gains on disposal of non-current assets |
5.7 |
6.1 |
Sundry income |
28.5 |
28.3 |
Total other income |
138.9 |
99.4 |
In 2022, other income went up by €39.5 million year on year to reach €138.9 million.
The rise in other income was predominantly due to the increase in foreign currency exchange rate gains. These are attributable to exchange rate gains arising in the course of the Group companies’ operating activities and to gains on hedges that were entered into in order to hedge currency risk arising from the operating business and are not part of a formally documented hedge (details of the countervailing other expenses from foreign currency exchange rate losses can be found in note [10]).