in EUR m | 2025 | 2024 | 2023 |
Interest income | 7.3 | 6.6 | 4.1 |
Foreign exchange gains, net | 3.8 | - | 13.7 |
Other finance income | 1.7 | 41.3 | 3.8 |
Total financial income | 12.8 | 47.9 | 21.6 |
Interest expenses | (195.5) | (183.8) | (164.6) |
Interest on lease liabilities (Note 3.7) | (36.5) | (35.3) | (29.6) |
Fair value losses on ineffective portion of hedged interest rate swaps (Note 4.6.2) | (0.5) | - | - |
Net interest on defined benefit schemes (Note 5.3) | (11.4) | (10.6) | (12.2) |
Foreign exchange losses, net | - | (7.3) | - |
Other finance costs | (15.9) | (13.7) | (11.2) |
Total financial expenses | (259.8) | (250.7) | (217.6) |
Total | (247.0) | (202.8) | (196.0) |
Interest income includes interest income on pension plan reimbursement rights in Germany amounting to EUR 0.4m (2024: EUR 0.3m; 2023: EUR 0.8m) (Note 5.3).
Other finance income includes fair value adjustments to financial assets at fair value through profit or loss in the amount of EUR 1.3m (2024: EUR 15.4m; 2023: EUR 3.4m). In 2024, a gain on the bond repayment amounting to EUR 26.2m (Note 3.8) was included.
Foreign exchange (losses)/gains, net, primarily comprise the gain from hyperinflation accounting in the Argentinian subsidiary and foreign exchange (losses)/gains on monetary financial assets and liabilities.