3 Financial result
| In CHF million | 2022 | 2021 | ||
|---|---|---|---|---|
| Financial income | ||||
| Gains on foreign exchange | 399 | 261 | ||
| Losses on foreign exchange | –392 | –257 | ||
| Gain on sale of investments | 15 | 22 | ||
| Other financial income | 45 | 40 | ||
| Total financial income | 67 | 66 | ||
| Financial expenses | ||||
| Investments write-down | 13 | 17 | ||
| Other financial expenses | 24 | 17 | ||
| Total financial expenses | 37 | 34 | ||
Gains and losses on foreign exchange result primarily from hedging of transaction-related risks for Group companies. Other financial income mainly comprises interest income from Group companies, while other financial expenses consist of interest expenses to Group companies and third parties.