3. Net financial (expenses) income

In the first half of 2018 net financial expenses amount to €20.6 million (net financial income of €56.3 million in 2017).

€ million I Half 2018   I Half 2017   Change
Interest income on:           
 - bank current accounts and deposits 0.3    0.2    0.1 
 - bonds 1.2    1.6    (0.4)
Income (expenses) and fair value adjustments to financial assets  13.8  (a) (0.1)   13.9 
Other financial income 1.6    0.4    1.2 
Interest income and other financial income, net 16.9    2.1    14.8 
Interest expenses and other financial expenses:          
 - Interest expenses and other expenses on EXOR bonds (45.5) (b) (48.9) (b) 3.4 
 - Interest expenses and other expenses on bank borrowings (1.7)   (5.8)   4.1 
Interest expenses and other financial expenses (47.2)   (54.7)   7.5 
Exchange gains (losses), net 9.7    (0.2)   9.9 
Financial (expenses) income generated by the financial position (20.6)   (52.8)   32.2 
Income (expenses) on other investments and other net financial income (c)  -   109.1  (d) (109.1)
Financial (expenses) income recorded in the income statement (20.6)   56.3    (76.9)
(a) Fair value related to a Luxembourg SICAV investment. (b) Includes the credit risk adjustment component recorded in the income statement relating to the fair value measurement of the cross currency swap in accordance with IFRS 13, which is a negative €0.4 million, (positive €0.3 million in the first half of 2017). (c) Included investments measured at fair value and other investments. (d) It referred to the net gain realized on the total redemption of The Black Ant Value Fund, arising from the reversal of the available for sale reserve.

 

 

 

Commercial Register No.64236277 Legal notes | Credits