ÖBB Annual Report 2023

Consolidated Financial Statements 258 Österreichische Bundesbahnen-Holding Aktiengesellschaft Consolidated Financial Statements | Group Management Report 40 12. Other financial result The other financial result of the ÖBB Group is made up as follows: 2023 2022 Other financial result in EUR million in EUR million Other financial income 12.9 17.2 thereof from measurement/foreign currency translation differences 7.7 16.3 thereof from the valuation of derivatives 4.9 0.5 thereof income from disposal and appreciation of financial assets 0.0 0.2 thereof income from investments 0.2 0.2 Other financial expenses -6.0 -75.5 thereof from measurement/foreign currency translation differences -4.0 -28.5 thereof from the valuation of derivatives 0.0 -44.5 Total 6.9 -58.2 In addition to exchange rate differences, other financial income relates in particular to measurement gains from derivatives and income from the measurement of electricity derivatives not included in a hedging relationship. Other financial expenses result from exchange rate differences and, in the previous year, in particular from changes in the fair value of derivative financial instruments. 13. Income taxes The item Income Taxes comprises the following: 2023 2022 in EUR million in EUR million Current income tax -11.7 -11.4 Deferred tax expense / tax benefit -75.4 13.0 thereof from tax rate adjustments 3.0 -19.7 Income taxes -87.1 1.6 Taxes are calculated at 24% of the estimated taxable profit for the financial year. In January 2022, Austria resolved to gradually reduce the corporate income tax rate from 25% to 23%. From 01.01.2023, a corporation tax rate of 24% will apply for the calendar year 2023 and from 01.01.2024 this will be 23%. For the 2023 calendar year, the future tax rate of 23% applicable from 01.01.2024 was used to calculate deferred tax assets and deferred tax liabilities for the measurement of recognised deferred tax assets and deferred tax liabilities. The regulations on global minimum taxation have already been transposed into local law in some jurisdictions (Austria, Bulgaria, the Czech Republic, Germany, Croatia, Hungary, Italy, Romania, Slovenia, Slovakia) in which the ÖBB Group currently operates and are applicable for financial years beginning on or after 31.12.2023. Deferred taxes developed as follows: 2023 2022 in EUR million in EUR million Recognised amounts as of Jan 01 197.2 204.7 Change in deferred taxes thereof in profit and loss -75.4 13.0 therof in other comprehensive income 100.0 -20.5 Recognised amounts as of Dec 31 221.8 197.2 thereof deferred tax assets 226.2 202.2 thereof deferred tax liabilities -4.4 -5.0