9Financial income and expenses
|
millions of CHF |
|
2022 |
|
2021 1) |
|
Interest and securities income |
|
3.3 |
|
5.1 |
|
Interest income on employee benefit plans |
|
0.2 |
|
0.0 |
|
Total interest and securities income |
|
3.5 |
|
5.1 |
|
Interest expenses on borrowings and lease liabilities |
|
–11.7 |
|
–11.0 |
|
Interest expenses on employee benefit plans |
|
–1.5 |
|
–1.4 |
|
Total interest expenses |
|
–13.2 |
|
–12.4 |
|
Total interest income / (expenses), net |
|
–9.7 |
|
–7.2 |
|
|
|
|
|
|
|
Fair value changes |
|
9.1 |
|
–8.1 |
|
Other financial expenses |
|
–1.1 |
|
–0.5 |
|
Currency exchange gains / (losses), net |
|
10.3 |
|
6.5 |
|
Total other financial income / (expenses), net |
|
18.3 |
|
–2.1 |
|
|
|
|
|
|
|
Total financial income / (expenses), net |
|
8.5 |
|
–9.4 |
|
- thereof fair value changes on financial assets at fair value through profit and loss |
|
9.1 |
|
–8.1 |
|
- thereof interest income on financial assets at amortized costs |
|
3.3 |
|
5.1 |
|
- thereof other financial expenses |
|
–1.1 |
|
–0.5 |
|
- thereof currency exchange gains / (losses), net |
|
10.3 |
|
6.5 |
|
- thereof interest expenses on borrowings |
|
–10.8 |
|
–10.0 |
|
- thereof interest expenses on lease liabilities |
|
–0.9 |
|
–1.0 |
|
- thereof interest expenses on employee benefit plans |
|
–1.3 |
|
–1.4 |
1) Comparative information has been re-presented due to discontinued operations (details are described in note 6).
Total financial income amounted to CHF 8.5 million, compared with financial expenses of CHF 9.4 million in the first half of 2021.
The fair value changes are largely related to derivative financial instruments that are classified as financial assets or financial liabilities at fair value through profit and loss and that are used as hedging instruments to hedge foreign exchange risks.
Currency exchange gains/losses, are mainly related to foreign currency differences of non-operating assets and liabilities recorded at the prevailing rate at the time of acquisition (or preceding year-end closing rate) as against the current balance sheet rate. It includes a positive foreign exchange effect of CHF 21.0 million arising on unhedged intercompany loans to Russian entities prior to their classification as held for sale.