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134 ENAV – 2014 Financial Statements
27. Financial income and expense
Net financial expense of ¤5,602 thousand was incurred during the
year,consisting of financial income of ¤3,448 thousand, financial expense
of ¤9,075 thousandand exchange gains of ¤25 thousand.
Financial income may be analyzed as follows:
Income from investments 31.12.2014 31.12.2013 Change
in other companies 250 250 0
Interest income from 0 1,814 (1,814)
discounting the "balance"
43 43 0
Interest income from non-
current financial assets 684 719 (35)
2,471 2,081 390
Interest income on VAT 3,448 4,907 (1,459)
receivable awaiting refund
Other interest income
Total financial income
Income from investments in other companiesconsist of the dividend paid in
2014 by the French registered company ESSP,in line with that of 2013.
The other items decreased overall by ¤1,459 thousanddue mainly to the
financial income arising from discounting the“balance” item, for which
financial expense of ¤3,059 thousand was recognized in 2014 as shown
in the table below. Other interest income relates mainly to arrears interest
charged to air carriers for the late payment of charges.
Financial expense totals ¤9,075 thousandand may be analyzed as follows:
Interest expense on bank 31.12.2014 31.12.2013 Change
loans 3,669 5,436 (1,767)
Interest expense on 1,689 1,560 129
employee benefits
3,059 0 3,059
Interest expense from 658 1,230 (572)
discounting the "balance" 8,226
9,075 849
Other interest expense
Total financial expense
