Finance income comprises interest received on outstanding monies and upward adjustments to the fair value, interest result of foreign currency derivatives and net foreign exchange results.
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 realized value of derivative financial instruments, other interest paid, commitment fees, the amortization of transaction fees related to borrowings, interest on finance leases and net foreign exchange results.
Finance income and costs include:
in thousands of EUR
- Bank borrowings
- Result on interest derivatives
- Commitment and utilization fee
Total finance costs
- Interest income
- Interest loans to management
- Interest deposits
Total finance income
Net foreign exchange results
Net financial result
Finance costs from bank borrowings and interest income include, respectively, the cost and income related to balances held in the Group's cash pool.
The other finance costs mainly relate to the unwinding of discount on the contingent consideration related to Visilab S.A. and interest due to tax authorities on VAT positions.