13 Net financial income

 

2017

2016

CHF thousand

 

 

 

 

 

 

 

 

Financial income

21,431

4,043

Interest income

928

1,227

Dividend income

288

205

Other financial income

90

539

Changes in the value of securities held for trading

1,450

2,072

Currency translation

18,675

 

 

 

Financial expenses

–35,574

–31,855

Interest expense

–10,287

–17,741

Interest accumulated on provisions

–1,146

–760

Changes in securities held for trading

–18,370

–940

Currency translation

–2,056

Impairments

–4

Loss on premature repayment of liabilities

–1,468

–5,131

Other financial expenses

–4,303

–5,223

 

 

 

Net financial result

–14,143

–27,812

In 2017 the losses on premature repayment of liabilities relate to the premature closing of an off-balance-sheet interest rate swap held until that point for hedging purposes; in 2016 the losses related to the premature repayment of registered bonds.

The changes in the value of securities held for trading relate to interest rate swaps and forward exchange transactions to hedge currency and interest rate risks.