3. Net financial income (expenses)

Net financial expenses in 2014 amount to €72.7 million, with a net increase of €12.4 million compared to 2013 (€60.3 million), principally on account of higher average net debt and non-recurring expenses totaling €32.5 million relating to the partial cancellation (€250 million nominal amount) of the non-convertible bonds 2007-2017.

In 2013 net financial expenses included €18.2 million relating to the partial cancellation (€60 million nominal amount) of the same bonds and the closing of interest rate hedging instruments following the early extinguishment of non-current loans.


Commercial Register No.64236277 Note legali | Credits