[12] Financial income
Financial income breaks down as shown in > TABLE 056.
in € million |
2019 |
2018 |
|---|---|---|
Interest income from leases |
51.9 |
43.8 |
Foreign currency exchange rate gains (financing) |
47.9 |
48.9 |
Other interest and similar income |
5.7 |
7.1 |
Total financial income |
105.5 |
99.9 |
In 2019, financial income rose by €5.6 million year on year.
The increase mainly resulted from higher interest income from leases (details of the countervailing interest expenses can be found in note [13]). The interest income from leases relates to the interest portion of lease payments in financial services transactions in which KION Group entities operate as lessors (in the case of leases classified as finance leases).
Foreign currency exchange rate gains predominantly arise in connection with foreign currency positions in internal financing and the related hedging transactions that are not part of a formally documented hedge.