11. Net expense from commodity derivatives - €(212) million

 

Millions of euro      
  2020 2019 Change
Income:        
- income from derivatives designated as hedging derivatives 76 200 (124) -62.0%
- income from derivatives at fair value through profit or loss 4,904 1,311 3,593 -
Total income 4,980 1,511 3,469 -
Expense:        
- expense from derivatives designated as hedging derivatives (132) (23) (109) -
- expense from derivatives at fair value through profit or loss (5,060) (2,221) (2,839) -
Total expense (5,192) (2,244) (2,948) -
Net expense from commodity derivatives (212) (733) 521 -71.1%


Net expense from commodity derivatives amounted to €212 million for 2020 (compared with net expense of €733 million in 2019), which can be broken down as follows:

  • net expense from cash flow hedge derivatives in the amount of €56 million (compared with net income of €177 million in 2019);
  • net expense from derivatives at fair value through profit or loss in the amount of €156 million (compared with net expense of €910 million in 2019).

For more information on derivatives, see note 47 “Derivatives and hedge accounting”.