Financial income and expenses
11 Financial income and expenses
x € 1 million | 2022 | 2021 |
|---|---|---|
Interest income | -4 | -2 |
Interest expense | 41 | 94 |
Interest expense lease liabilities | 1 | 1 |
Redemption costs interest-bearing debt | -8 | - |
Total | 30 | 93 |
The financial expenses relate mainly to the interest expense for external financing. Interest expenses decreased in 2022 compared with 2021, mainly due to the early redemption of the USD and GBP loans in 2021, for which the interest for the original remaining term had to be settled as a lump sum, for an amount of €38 million. In addition, the interest expenses for these loans have ceased for the year itself.
In addition, a loan was repaid in 2022, for which a profit of €8 million was realised on the derivatives associated with this loan. Also in 2022, interest was capitalised on the assets under construction for an amount of €6 million (2021: €5 million).
