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.