11. Financial income and expenses
x € 1 million | 2023 | 2022 |
|---|---|---|
Interest income | -2 | -4 |
Interest expense | 66 | 41 |
Interest expense lease liabilities | 1 | 1 |
Other interest income and expenses | - | -8 |
Total | 65 | 30 |
Net financial expenses increased by € 35 million compared to the previous year. The financial expenses relate mainly to the interest expense for external financing. These expenses increased due to higher debt during the year and higher market interest rates. During 2023, Stedin attracted additional short-term financing in anticipation of the € 500 million capital contribution by the State.
In addition, there was one-off financial income of € 8 million in 2022 arising from the repayment of a loan.
