4. Net financial income (expenses)

In the first half of 2015 net financial expenses amount to €18.9 million (compared to net financial income of €4.5 million in the first half of 2014). Details are as follows:

€ million
Half I 2015
  Half I 2014
  Change
Interest income and other financial income          
Interest income on:
         
 - bank current accounts and deposits 2.4   8.8   (6.4)
 - bonds 5.0   5.7   (0.7)
Income (expenses) and fair value adjustments to
financial assets held for trading
3.0   10.5   (7.5)
Other financial income
0.4   0.0   0.4
Interest income and other financial income 10.8   25.0   (14.2)
Interest expenses and other financial expenses          
Interest expenses and other expenses on EXOR bonds
(32.3) (a) (31.7) (a) (0.6)
Interest expenses and other expenses on bank borrowings
(1.5)   (1.6)   0.1
Interest expenses and other financial expenses (33.8)   (33.3)   (0.5)
Net exchange gains (losses) (1.5)   (0.4)   (1.1)
Financial income (expenses) generated by the financial position (24.5)   (8.7)   (15.8)
Income on other investments (b) 5.6 (c) 12.9 (c) (7.3)
Exchange gains (losses) and sundry financial income
0.0   0.3   (0.3)
Other financial income 5.6   13.2   (7.6)
Financial income (expenses) recorded in the income statement (18.9)   4.5   (23.4)
(a) Includes the credit risk adjustment component recorded in the income statement relating to the fair value measurement of the cross currency swap under IFRS 13, which is a positive €0.1 million (a negative €0.6 million in the first half of 2014). (b) Included in other non-current financial assets. (c) Includes mainly the net gains realized on the redemption of The Black Ant Value Fund of €6.1 million (€4.8 million in the first half of 2014) and the net loss on the redemption of the Perella Weinberg Funds of €0.7 million (gain of 7.6 million in the first half of 2014).

 

Commercial Register No.64236277 Legal notes | Credits