9 Results from equity investments

In the first six months our results from equity investments decreased with €48 million to €44 million (2017: €92 million). The higher results in 2017 were predominantly driven by two private equity investment exits. Due to the application of IFRS 9 this year the results from equity investments now include the fair value changes of the equity investments including currency effects. The results on the sale of equity investments in the first half of 2018 were €8 million negative.