|
|
2023 |
|
2022 |
|---|---|---|---|---|
Loans interest expense |
|
(112) |
|
(1) |
Leases interest expense |
|
(114) |
|
(43) |
Interest received |
|
12,412 |
|
729 |
Fair value of financial instruments not qualified as hedging |
|
(3,310) |
|
‐ |
Other financial gains and losses |
|
(1,008) |
|
(656) |
Net financial costs |
|
7,868 |
|
29 |
Interest expenses includes the interest related with loans measured at amortised cost. Other financial costs include, namely, stamp tax on credit lines opening, issuing and maintaining bank guarantees and issuance costs related to non-current debt recognised in the income statement for the loan’s term.
Caption interest received includes interests on treasury investments carried out throughout the year.
In 2023, JMH contracted currency forwards to cover the currency exposure of loans granted to a subsidiary in foreign currency. Derivative instruments had a negative impact on results, amounting to €3,310 thousand.