Interest income amounting to EUR 15.9 million (EUR 14.5 million) concerns mainly interest income from short-term deposits.

The interest expense mainly relates to the long-term and short-term interest-bearing liabilities. The EU Private Placements and Eksfin Green Loan are of a fixed-interest nature. The Revolving Credit Facility is fully of a variable-interest nature. The Boreas linked loan has a variable interest, which is made a fixed-interest by means of an interest rate swap for an amount of EUR 189 million (EUR 200 million). The Green Loan Framework had a variable-interest, which was largely made a fixed-interest by means of an interest rate swap.

The net effect of discounting fixed financial assets is related to trapped cash recognised under financial fixed assets (reference is made to note 3) and reflects the expected timing of its release.