Interest income and expenses are allocated to the period they relate to 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 |
2024 |
2023 |
|
Interest income |
110 |
95 |
|
Total financial income |
110 |
95 |
|
Other financial expenses |
56 |
41 |
|
Total financial expenses |
56 |
41 |
|
Total, net income |
54 |
54 |
Net financial income and expenses for 2024 align with those for 2023. Interest income has increased mainly due to a higher current account balance with Enexis Netbeheer B.V., but this is offset by a decrease in interest income from surplus cash in money market funds, deposits and bank accounts. Interest expenses increased mainly due to the issuance of a green bond with a nominal value of €500 million and a coupon of 3.50% in May 2024. In addition, the interest expense for the 2023 green bond is now fully reflected in the 2024 financing costs. This increase is offset by a reduction in interest expenses following the redemption of the listed bond with a nominal value of €500 million and a coupon of 1.50% in October 2023.