| 2009 | 2008 | Changes | |
|---|---|---|---|
| Derivatives on interest | 10,122 | 7,980 | 2,142 |
| Capital gains on investments and dividends from other companies | 5,696 | 5,180 | 516 |
| Customers | 4,007 | 1,573 | 2,434 |
| Banks | 822 | 3,917 | -3,095 |
| Other financial income | 2,320 | 3,512 | -1,192 |
| Total financial income | 22,967 | 22,162 | 805 |
| 2009 | 2008 | Changes | |
|---|---|---|---|
| Bond loans | 51,037 | 42,502 | 8,535 |
| Derivatives on rates | 27,735 | 4,576 | 23,159 |
| Discounting of provisions and financial leases | 17,129 | 10,077 | 7,052 |
| Mortgages | 15,866 | 29,470 | -13,604 |
| Bank current account overdrafts | 8,010 | 20,730 | -12,720 |
| Capital losses and write-downs of equity investment | 54 | 388 | -334 |
| Other financial charges | 20,413 | 8,426 | 11,987 |
| Total financial charges | 140,244 | 116,169 | 24,075 |
The change in the balance of financial operations is described, overall, in the Report on Operations.
Income and charges on rates highlight a negative net effect, amounting to Euro 17,613 thousand. To this purpose, see Note 22 to the balance sheet.
Item "Capital gains on equity investments and dividends from other companies" mainly regards a 2009 dividend on account paid by Energia Italiana Spa to Hera Spa and amounting to Euro 5,015 thousand, as well as Euro 400 thousand as capital gain, again achieved by the parent company, regarding the disposal of the equity investment in Ambiente Mare Spa to a private shareholder.
Item "Other financial income" includes Euro 1,400 thousand of income generated by the renegotiation of the Put Extendable bond, totalling Euro 200 million.
Item "Bonds" comprises the following:
The increase, compared to last year, is mainly due to a new bond loan, called put call reset bond, entered into during the second half of 2008, as well as the issue, in 2009, of a 15-year bond loan for the amount of 20 billion Japanese Yen, with a Euro hedge of around Euro 150 million, and the issue of another bond loan, a Euro 500 million, fixed-rate bond, effective as from November 2009.
As for "Other financial charges", this item is broken down as follows:
Item "Discounting of provisions and financial leases" is broken down as follows:
| 2009 | 2008 | Changes | |
|---|---|---|---|
| Restoration of third party assets | 7,514 | 3,846 | 3,668 |
| Landfill post-closure provision | 5,675 | 316 | 5,359 |
| Employee leaving indemnity and other similar benefits | 3,030 | 4,930 | -1,900 |
| Financial leasing | 910 | 985 | -75 |
| Total | 17,129 | 10,077 | 7,052 |
Reclassifications made for some items recorded in the financial statements as at 31 December 2008 are shown below:
| Financial income | 2008 published | reclassification | 2008 reclassified |
|---|---|---|---|
| Interest received on other receivables | 107 | -107 | 0 |
| Other financial income | 3,405 | 107 | 3,512 |
| Financial income-capital gains on investment negotiations | 824 | -824 | 0 |
| Dividends from equity investments in other companies | 4,356 | -4,356 | 0 |
| Capital gains on equity investments and dividends from other companies | 0 | 5,180 | 5,180 |
| Total | 8,692 | 0 | 8,692 |
| Financial charges | 2008 published | reclassification | 2008 reclassified |
|---|---|---|---|
| Financial charges as a result of IAS 19 | 4,930 | -4,930 | 0 |
| Financial charges generated by the application of "other international accounting standards" | 5,147 | -5,147 | 0 |
| Discounting of financial provisions and leasing | 0 | 10,077 | 10,077 |
| Bond loans | 0 | 42,502 | 42,502 |
| Other financial charges | 50,928 | -42,502 | 8,426 |
| Capital losses on investment negotiations | 388 | -388 | 0 |
| Capital losses and write-downs of investments | 0 | 388 | 388 |
| Total | 61,393 | 0 | 61,393 |
