Interest income and expenses are allocated to the period to which they relate based on time proportionality, using the effective interest method. Construction period interest is applied to investment projects with estimated durations of more than 12 months.
|
€ Million |
2023 |
2022 |
|
Interest income |
95 |
36 |
|
Total financial income |
95 |
36 |
|
Other financial expenses |
41 |
34 |
|
Total financial expenses |
41 |
34 |
|
Total, net income |
54 |
2 |
Financial income and expenses rose mainly due to higher interest income over the higher current account balance with, in particular, Enexis Netbeheer B.V. and due to the higher interest on surplus cash in money market funds, deposits and bank accounts. This increase was partially offset by an increase in financial expenses. A € 500 million green bond loan with an interest rate of 3.625% was issued in June 2023 while repayment of a listed € 500 million bond with an interest rate of 1.5% took place in October 2023.