[13] Financial income
Financial income breaks down as follows:
in € million |
2020 |
2019 |
|---|---|---|
Interest income from lease business |
58.8 |
51.9 |
Foreign currency exchange rate gains (financing) |
46.8 |
47.9 |
Other interest and similar income |
8.0 |
5.7 |
Total financial income |
113.6 |
105.5 |
The €8.1 million rise in financial income was primarily attributable to higher interest income from the leasing business (details of the countervailing interest expense can be found in note [14]). The interest income from the leasing business relates to the interest portion of lease payments in which KION Group subsidiaries operate as lessors and the arrangements are classified as a finance lease relationship.
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.