4. Net financial income (expenses)

In 2016 net financial expenses amount to €76.1 million (net financial expenses of € 10.5 million in 2015).

Details are as follows:

€ million   2016   2015   Change
Interest income on:        
- bank current accounts and deposits  3.6   7.2   (3.6)
- bonds4.8  8.1 (3.3)
- bonds Income (expenses) and fair value adjustments to financial assets held for trading  (1.3)   10.2   (11.5)
Other financial income  0.1   0.6   (0.5)
Interest income and other financial income, net   7.2   26.1   (18.9)
Interest expenses and other financial expenses        
Interest expenses and other expenses on EXOR bonds  (98.3)(a)  (67.8)(a)  (30.5)
Interest expenses and other expenses on bank borrowings  (22.7)(b)  (10.9)(b)  (11.8)
Interest expenses and other financial expenses  (121.0)   (78.7)   (42.3)
Exchange gains, net  8.3   2.7   5.6
Financial income (expenses) generated by the financial position  (105.5)   (49.9)   (55.6)
Income (expenses) on other investments and other net financial income (c)  29.4   39.4(d) (10.0)
Financial income (expenses) recorded in the income statement  (76.1)   (10.5)   (65.6)
(a) 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 €0.8 million (in line with 2015). (b) Includes expenses mainly relating to the credit line secured for the acquisition of PartnerRe of €14.4 million (€ 8.6 million in 2015). (c) Included in investments measured at fair value and other investments. (d) Includes mainly income (€22.9 million) arising from the fair value revaluation of the previously held 9.9% interest in PartnerRe following the change in the method of valuation, as well as the net gain realized on the redemption of The Black Ant Value Fund of €5.8 million (€6.1 million in 2015).
Commercial Register No.64236277 Note legali | Credits