3 Financial result
| In CHF million | 2023 | 2022 | ||
|---|---|---|---|---|
| Financial income | ||||
| Interest income | 103 | 41 | ||
| Gains on foreign exchange | – | 399 | ||
| Losses on foreign exchange | – | –392 | ||
| Gain on sale of investments | – | 15 | ||
| Other financial income | 65 | 4 | ||
| Total financial income | 168 | 67 | ||
| Financial expenses | ||||
| Interest expenses | 45 | 10 | ||
| Gain on foreign exchange | –276 | – | ||
| Losses on foreign exchange | 286 | – | ||
| Investments write-down | 63 | 13 | ||
| Other financial expenses | 5 | 14 | ||
| Total financial expenses | 123 | 37 | ||
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.
In 2023, other financial income includes a gain on sale of shares in Hyundai Elevator Co. Ltd. of CHF 54 million.