Financial result
| in CHF 000 | 2020 | 2019 | ||
|---|---|---|---|---|
| Interest income | 98 | 133 | ||
| Gains from sale of investments | 43 | 25 895 | ||
| Currency exchange gains | 4 403 | 3 644 | ||
| Financial income from IAS 19 | 362 | 383 | ||
| Other financial income | 323 | 43 | ||
| Financial income | 5 229 | 30 098 | ||
| Interest expense | (668) | (625) | ||
| Interest expense from leases | (1 037) | (783) | ||
| Currency exchange losses | (4 633) | (3 953) | ||
| Financial expense from IAS 19 | (92) | (211) | ||
| Loss from the sale of investments | (18 734) | (4) | ||
| Other financial expense | (667) | (97) | ||
| Financial expense | (25 832) | (5 672) | ||
| Total | (20 603) | 24 426 |
The financial result for 2020 amounts to CHF -20.6 million (previous year: CHF 24.4 million). The sale of the two companies Olmero AG and Trendsales ApS in October 2020 resulted in a consolidated disposal loss of CHF 18.7 million. This contrasts with the previous year, when a profit totalling CHF 25.9 million was achieved from the sale of investments, much of which was attributable to the sale of Swisscom Directories AG and Starticket AG.
Net interest amounts to CHF -1.6 million (previous year: CHF -1.3 million), with the increase attributable to higher interest associated with the recording of lease liabilities. Exchange rate effects amount to CHF -0.2 million (previous year: CHF -0.3 million), while net financial income in accordance with IAS 19 amounts to CHF 0.3 million (previous year: CHF 0.2 million).
Other financial expenses include among other things the 2020 adjustment to the purchase price for Starticket AG (see Note 1) and the adjustment for the shares in Matter Funds Ltd., where the investment is reported as a non-current financial asset.