2. Net financial income (expenses)

In the first quarter of 2014 the balance of net financial income is €7.9 million (a balance of net financial expenses of €3.7 million in the first quarter of 2013).

Details on the composition of the balance are as follows:

€ million QI 2014   QI 2013   Change
Interest income and net other financial income          
Interest income on:
         
 - bank current accounts and deposits 4.0   1.6   2.4
 - bonds 2.6   3.2   (0.6)
Income (expenses) and fair value adjustments to financial assets held for trading 6.0   3.6   2.4
Interest income and net other financial income 12.6   8.4   4.2
           
Interest expenses and net other financial expenses          
Interest expenses and other expenses on EXOR bonds (16.0) (a) (14.5)   (1.5)
Interest expenses and other expenses on bank borrowings (0.7)   (2.4)   1.7
Interest expenses and net other financial expenses (16.7)   (16.9)   0.2
Net exchange gains (losses) (0.2)   3.0   (3.2)
Financial income (expenses) generated by the financial position (4.3)   (5.5)   1.2
(a) Includes the credit risk adjustment component recognized in the income statement relating to the measurement of the cross currency swaps, pursuant to IFRS 13, equal to €0.5 million.
€ million QI 2014   QI 2013   Change
Financial income (expenses) generated by the financial position (4.3)   (5.5)   1.2
Income on other investments (b) 12.0 (c) 1.4   10.6
Exchange gains (loss) and sundry financial income 0.2   0.4   (0.2)
Other financial income 12.2   1.8   10.4
Financial income (expenses) recorded in the income statement 7.9   (3.7)   11.6
(b) Included in other non-current financial assets. (c) Includes the net gains realized on the redemption of the Perella Weinberg Funds of €7.2 million and The Black Ant Value Fund of €4.8 million.
Commercial Register No.64236277 Note legali | Credits