4. Net financial income (expenses)

In the first nine months of 2015 net financial expenses amount to €35.6 million (net financial expenses of €0.8 million in the first nine months of 2014). Details are as follows:

    9 months to September 30   Quarter III
€ million   2015   2014   Change   2015   2014   Change
Interest income and other financial income                        
Interest income on:                         
 - bank current accounts and deposits   4.2   12.9   (8.7)   1.8   4.1   (2.3)
 - bonds   6.7   9.2   (2.5)   1.7   3.5   (1.8)
Income (expenses) and fair value adjustments to financial assets held for trading   0.3   8.4   (8.1)   (2.7)   (2.1)   (0.6)
Other financial income   0.6   0.0   0.6   0.2   0.0   0.2
Interest income and other financial income   11.8   30.5   (18.7)   1.0   5.5   (4.5)
Interest expenses and other financial expenses                        
Interest expenses and other expenses on EXOR bonds   (50.6) (a) (47.7)   (2.9)   (18.3)   (16.0)   (2.3)
Interest expenses and other expenses on bank borrowings   (5.9) (b) (2.1)   (3.8)   (4.4)   (0.5)   (3.9)
Interest expenses and other financial expenses   (56.5)   (49.8)   (6.7)   (22.7)   (16.5)   (6.2)
Net exchange gains (losses)   0.8   0.2   0.6   2.3   0.6   1.7
Financial income (expenses) generated by the financial position   (43.9)   (19.1)   (24.8)   (19.4)   (10.4)   (9.0)
Income (expenses) on other investments (b)   8.3 (d) 18.0 (d) (9.7)   2.7 (e) 5.1 (e) (2.4)
Exchange gains (losses) and sundry financial income   0.0   0.3   (0.3)   0.0   0.0   0.0
Other financial income   8.3   18.3   (10.0)   2.7   5.1   (2.4)
Financial income (expenses) recorded in the income statement   (35.6)   (0.8)   (34.8)   (16.7)   (5.3)   (11.4)
(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 negative €1.7 million (a negative €0.8 million in the first nine months of 2014). (b) Includes mainly expenses relating to the credit line secured for the acquisition of PartnerRe of €4.1 million. (c) Included in non-current other financial assets. (d) 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 nine months of 2014) and the net gain on the redemption of the Perella Weinberg Funds of €1.5 million (gain of €12.7 million in the first nine months of 2014). (e) Relates mainly to the net gains on the redemption of the Perella Weinberg Funds of €2.2 million (€5.1 million in the third quarter of 2014).
Commercial Register No.64236277 Legal notes | Credits