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CONSOLIDATED FINANCIALSTATEMENTS
BarryCallebaut
Annual Report2010/11
8 Financial income
in thousands of CHF 2010/11 2009/10
Interest income 1,275 2,021
Income from investments 84 –
Total financial income 1,359 2,021
9 Financial expenses
in thousands of CHF 2010/11 2009/10
Interest expenses (65,669) (58,358)
Loss on derivative financial instruments (329) (6,664)
Structuring fees (4,793) (973)
Chargesonundrawnportion of committed credit facilities (565) (713)
Total interest expenses (71,356) (66,708)
Bank chargesand other financial expenses (2,622) (4,354)
Foreign exchangelosses,net (437) (1,935)
Total financial expenses (74,415) (72,997)
Interest expenses include the net cost of interest rate swaps and result from paying fixed
interest rates in exchange for receiving floating interest rates.Interest expenses for 2010/11
also include interest paid under the asset-backed securitization program for trade receivables
of an amount of CHF 3.7 million (2009/10: CHF 3.5 million).
In prior year, loss on derivative financial instruments amounted to CHF 6.7 million and,
among other, comprised the fair value change of the free-standing interest rate derivatives
for 2009/10.
Structuring fee expenses are mainly attributable to the EUR 850 million Revolving Credit
Facility, which has been refinanced in June 2011 through an EUR 600 million Revolving
Credit Facility and an EUR 250 million Senior Note and the EUR 350 million Senior Note,
issued in July 2007 (see note 23).
The charges on the undrawn portion of the committed EUR 850 million Revolving Credit
Facility (till June 2011) and the EUR 600million Revolving Credit Facility (as of June 2011)
amount to CHF 0.6 million for 2010/11 (2009/10: CHF 0.7 million).
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