13 Net financial income
|
CHF thousand |
2024 |
2023 |
|
|
|
|
|
Financial income |
17,980 |
16,172 |
|
Interest income |
9,970 |
6,751 |
|
Dividend income |
498 |
501 |
|
FX Derivatives |
- |
8,614 |
|
Other financial income |
1,154 |
306 |
|
Currency translation |
6,358 |
- |
|
|
|
|
|
Financial expenses |
–27,166 |
–36,545 |
|
Interest expense |
–15,832 |
–16,264 |
|
Interest accumulated on provisions |
–897 |
–861 |
|
FX Derivatives |
–5,970 |
–67 |
|
Currency translation |
- |
–12,822 |
|
Impairments |
- |
–2,259 |
|
Other financial expenses |
–4,467 |
–4,272 |
|
|
|
|
|
Net financial result |
–9,186 |
–20,373 |
Substantial fixed-term deposits with a term of less than one year led to a year-on-year increase in interest income.
Currency translation in the amount of CHF 6,358 thousand (prior year CHF –12,822 thousand) stems primarily from Repower AG. A large proportion of this company’s assets and liabilities are denominated in euros, the main currency of the energy business. Exchange rate fluctuations between the euro and the Swiss franc can lead to currency gains or losses between the time these positions arise and the time they mature. Gains and losses from forward exchange transactions, which are recognised as currency derivatives in financial income and expenses, had a compensating effect, as in the previous year.
The prior-year impairment losses of CHF 2,259 thousand include the full write-down of the loan to EVUlution AG of CHF 2,252 thousand (see Note 18).