FTE » Topics » n Change in interest expense

This excerpt taken from the FTE 6-K filed Aug 3, 2007.

n  Change in interest expense

 

      (in millions of euros)

   Half years ended June 30    

Interest expense at June 30, 2006 (historical basis)

   (1,248)    

    Decrease factors:

  

        Decrease in average outstandings of net financial debt over the period

   220     

    Increase factors:

  

        Increase in change in fair value of the price guarantee given to FT España minority shareholders

        (-20 million euros in the first half 2007 versus +76 million euros in the first half of 2006) (1)

   (96)    

        Increase in weighted average cost of net financial debt

   (94)    

        Redemption of perpetual bonds redeemable for shares in the first half 2007 (TDIRAs) (1)

   (37)    

    Other items

   15     

Interest expense at June 30, 2007

   (1,240)    
           

(1)   See Note 7 to the consolidated financial statements.

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