Finance income comprises interest received on outstanding monies and upward adjustments to the fair value, gain on derivatives, net foreign exchange gain and interest income on lease receivables.
Finance costs comprise interest due on funds drawn and commercial paper calculated using the effective interest method, interest due on VAT risks, downward adjustments to the fair value and losses on derivatives, other interest expenses, commitment fees, the amortization of transaction fees related to borrowings, interest expense on lease liabilities and net foreign exchange losses.
Finance income and costs include:
in thousands of EUR
- Interest expense on lease liabilities
- Bank borrowings
- Result on derivatives
- Commitment and utilization fee
- Net foreign exchange loss
Total finance costs
- Interest income
- Interest deposits
- Interest income on lease receivables
- Interest loans to management
Total finance income
Net financial result
In 2019, the increase in interest expense on lease liabilities, interest income on lease receivables relates to the implementation of IFRS 16 Leases.
Finance costs from bank borrowings and interest income include, respectively, the cost and income related to balances held in the Group's cash pool.
Unwinding of discount on the contingent and deferred considerations amounting to €4,070, is included in Other finance costs.