|
in TUSD
|
2023
|
2022
|
|---|---|---|
| Interest income | 124,403 | 51,060 |
| Foreign currency gains, net | 144,907 | 0 |
| Gains from financial instruments at fair value through profit or loss, net | 0 | 87,494 |
| Other financial income | 4 | 17 |
| Total financial income | 269,314 | 138,571 |
| Interest expenses* | 11,764 | 19,755 |
| Foreign currency losses, net | 0 | 75,468 |
| Losses from financial instruments at fair value through profit or loss, net | 29,595 | 0 |
| Losses from debt securities at fair value through OCI, net | 3,118 | 4,764 |
| Other financial expenses | 2,248 | 6,707 |
| Total financial costs | 46,725 | 106,694 |
| Total financial income and costs, net | 222,589 | 31,877 |
The overriding long-term objective of FIFA’s investment policy is the preservation of the real value of its financial assets. FIFA continued to focus on maintaining a strong and reliable portfolio in 2023, which is why only counterparties with good or very good credit ratings were chosen. Interest income represents income from cash and cash equivalents of USD 18.3 million (2022: 10 million), from financial assets measured at amortised cost of USD 92.5 million (2022: 28 million) and measured at FVOCI of USD 13.6 million (2022: 13.1 million). Net foreign currency gains/losses mainly result from the valuation of net assets denominated in foreign currencies such as CHF and EUR. Interest expenses consist of USD 4.7 million (2022: 12.2 million) related to debt securities measured at amortised costs and of USD 2.4 million related to debt securities measured at FVOCI (2022: 3.3 million). It also includes USD 4.7 million interest expenses on lease liabilities (2022: 4.3 million), detailed in Note 28 – Leases. Net gains/losses from financial instruments at fair value through profit or loss primarily arise from equity investment funds and from derivatives that are not accounted for hedging purposes.