Nabaltec_E_GB2016

90 NOTES TO THE CONSOLIDATED BAL ANCE SHEET S T N E M E T A T S L A I C N A N I F D E T A D I L O S N O C The net interest expense is comprised of the interest expense, in the amount of EUR 705 thou- sand (year before: EUR 665 thousand), less expected income from plan assets in the amount of EUR 39 thousand (year before: EUR 38 thousand). The interest share of the funds transferred to pension reserves and income from plan assets are recognized in net interest income. Actu- arial gains and losses are recognized in other comprehensive income and have developed as follows: DEVELOPMENT OF ACTUARIAL GAINS AND LOSSES in TEUR Actuarial losses on 1 January 2015 Losses from changes in biometric and financial assumptions Experience losses Income from plan assets Actuarial losses on 31 December 2015 Losses from changes in biometric and financial assumptions Experience gains Income from plan assets Actuarial gains and losses on 31 December 2016 Changes in the present value of defined benefit obligations are as follows: DEFINED BENEFIT OBLIGATION in TEUR Defined benefit obligations on 1 January 2015 Interest expense Current service cost Benefits paid Actuarial gains/losses Defined benefit obligations on 31 December 2015 Interest expense Current service cost Past service cost Benefits paid Actuarial gains/losses Defined benefit obligations on 31 December 2016 –10,524 –543 –1,349 9 –12,407 –6,348 194 17 –18,544 26,764 665 579 –333 1,892 29,567 705 591 3,182 –378 6,155 39,822 Of the EUR 39,822 thousand in defined benefit obligations as of 31 December 2016 (year before: EUR 29,567 thousand), a sum in the amount of EUR 13,170 thousand (year before: EUR 10,669 thousand) is covered by pension liability insurance with a premium reserve of EUR 1,746 thousand (year before: EUR 1,616 thousand). Pension payments in the amount of approximately EUR 713 thousand are expected in Financial Year 2017 and EUR 727 thousand in Financial Year 2018. |||| Nabaltec AG | Annual Report 2016

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