4. Net financial income (expenses)

In the first nine months of 2014 the net financial expenses balance is €0.8 million (a net financial expenses balance of €12.7 million in the first nine months of 2013). Details on the composition of the balance are as follows:

  9 months to Sepember 30 QIII
€ million 2014   2013   Change 2014   2013   Change
Net interest income and other financial income                    
Interest income on:                     
 - bank current accounts and deposits 12.9   10.8   2.1 4.1   5.4   (1.3)
 - bonds 9.2   8.3   0.9 3.5   3.2   0.3
Income (expenses) and fair value adjustments to financial assets held for trading 8.4   1.7   6.7 (2.1)   2.4   (4.5)
Other financial income 0.0   0.3   (0.3) 0.0   0.1   (0.1)
Net interest income and other financial income 30.5   21.1   9.4 5.5   11.1   (5.6)
Interest expenses and other financial expenses                    
Interest expenses and other expenses on EXOR bonds (47.7) (a) (44.0)   (3.7) (16.0)   (14.8)   (1.2)
Interest expenses and other expenses on bank borrowings (2.1)   (7.5)   5.4 (0.5)   (2.5)   2.0
Interest expenses and other financial expenses (49.8)   (51.5)   1.7 (16.5)   (17.3)   0.8
Net exchange gains (losses) 0.2   0.0   0.2 0.6   (2.4)   3.0
Financial income (expenses) generated by the financial position (19.1)   (30.4)   11.3 (10.4)   (8.6)   (1.8)
Income on other investments (b) 18.0 (c) 17.0 (c) 1.0 5.1 (d) 15.5 (d) (10.4)
Exchange gains (losses) and sundry financial income 0.3   0.7   (0.4) 0.0   0.1   (0.1)
Other financial income 18.3   17.7   0.6 5.1   15.6   (10.5)
Financial income (expenses) recorded in the income statement (0.8)   (12.7)   11.9 (5.3)   7.0   (12.3)
(a) Includes the credit risk adjustment component recognized in the income statement relating to the measurement of the cross currency swap in accordance with IFRS 13, for a negative €0.8 million. (b) Included in other non-current financial assets. (c) Includes mainly the net gains realized on the redemptions of the Perella Weinberg Funds of €12.7 million (€15.7 million in the first nine months of 2013) and The Black Ant Value Fund of €4.8 million (€1.2 million in the first nine months of 2013). (d) Relates to net gains realized on the redemptions of the Perella Weinberg Funds.

 

Commercial Register No.64236277 Legal notes | Credits