XML 65 R16.htm IDEA: XBRL DOCUMENT v3.22.4
NET FINANCIAL EXPENSES
 12 Months Ended
Dec. 31, 2022
Net financial (expenses)/income [Abstract]  
NET FINANCIAL EXPENSES
9. NET FINANCIAL EXPENSES

The following table sets out details of financial income and expenses, including the amounts reported in the consolidated income statement within the net financial expenses line item, as well as interest income from financial services activities, recognized under net revenues, and interest expenses and other financial charges from financial services activities, recognized under cost of sales.
For the years ended December 31,
202220212020
Financial income:(€ thousand)
Interest income from bank deposits2,414 399 610 
Other interest income and financial income2,166 4,741 517 
Interest income and other financial income4,580 5,140 1,127 
Finance income from financial services activities69,389 55,043 65,878 
Total financial income73,969 60,183 67,005 
Total financial income relating to:
Industrial activities (A)4,580 5,140 1,127 
Financial services activities (reported in net revenues)69,389 55,043 65,878 
Financial expenses:
Capitalized borrowing costs1,914 1,874 2,591 
Other interest and financial expenses(2,778)(3,315)(3,258)
Interest expenses and other financial expenses(864)(1,441)(667)
Interest expenses from banks and other financial institutions(25,503)(11,310)(14,330)
Interest and other finance costs on bonds and notes(23,679)(22,947)(20,116)
Write-downs of financial receivables(594)(1,467)(9,502)
Other financial expenses(2,008)(5,991)(14,580)
Total financial expenses(52,648)(43,156)(59,195)
Net expenses from derivative financial instruments and foreign currency exchange rate differences(28,693)(11,880)(27,652)
Total financial expenses and net expenses from derivative financial instruments and foreign currency exchange rate differences(81,341)(55,036)(86,847)
Total financial expenses and net expenses from derivative financial instruments and foreign currency exchange rate differences relating to:
Industrial activities (B)(54,196)(38,397)(50,219)
Financial services activities (reported in cost of sales) (27,145)(16,639)(36,628)
Net financial expenses relating to industrial activities (A+B)(49,616)(33,257)(49,092)