3. Net financial (expenses) income

In 2018 net financial expenses amount to €64 million (net financial income of €14 million in 2017).

€ million 2018  2017  Change
Interest income on:         
 - bank current accounts and deposits 1  1  0
 - bonds 2  4  (2)
 - financial receivables 3  0  3
Realized and unrealized gains (losses) on financial assets at FVTPL 11  0  11
Interest income and other financial income 17  5  12
Interest expenses and other financial expenses on:        
 - EXOR bonds (93)(a) (88)(a) (5)
 - bank debt (3)  (12)  9
Interest expenses and other financial expenses (96)  (100)  4
Exchange gains (losses), net 15  0  15
Financial (expenses) income generated by the financial position (64)  (95)  31
Realized gains (losses) on financial assets at FVTOCI -  109(b) (109)
Financial (expenses) income recorded in the income statement (64)  14  (78)
(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 €0.5 million (positive €0.6 million in the year 2017). (b) Refers to the net gain realized on the total redemption of The Black Ant Value Fund, arising from the reversal of the fair value reserve.

 

Commercial Register No.64236277 Note legali | Credits