(26) Finance Result
Details are as follows:
|
|
|
Thousands of Euros |
|
||||
|
|
|
31/12/2017 |
|
31/12/2016 |
|
31/12/2015 |
|
|
Finance income |
|
9,678 |
|
9,934 |
|
5,841 |
|
|
Finance cost from Senior Unsecured Notes |
|
(65,189 |
) |
(73,491 |
) |
(72,783 |
) |
|
Finance cost from senior debt |
|
(193,183 |
) |
(168,332 |
) |
(161,624 |
) |
|
Finance cost from sale of receivables (note 13) |
|
(3,973 |
) |
(4,885 |
) |
(6,512 |
) |
|
Capitalized interest |
|
8,839 |
|
13,019 |
|
9,795 |
|
|
Other finance costs |
|
(9,838 |
) |
(11,140 |
) |
(9,211 |
) |
|
|
|
|
|
|
|
|
|
|
Finance costs |
|
(263,344 |
) |
(244,829 |
) |
(240,335 |
) |
|
|
|
|
|
|
|
|
|
|
Change in fair value of financial derivatives (note 30) |
|
(3,752 |
) |
(7,610 |
) |
(25,206 |
) |
|
Impairment and gains / (losses) on disposal of financial instruments (note 11) |
|
(18,844 |
) |
— |
|
— |
|
|
Exchange differences |
|
(11,472 |
) |
8,916 |
|
(12,140 |
) |
|
|
|
|
|
|
|
|
|
|
Finance result |
|
(287,734 |
) |
(233,589 |
) |
(271,840 |
) |
|
|
|
|
|
|
|
|
|
During 2017 the Group has capitalized interest at a rate of between 4.26% and 4.87% based on the financing received (between 4.8% and 5.2% during 2016) (see note 4 (f)).