Note 54 Finance expense
Loans from third parties
Capitalised interest assets under construction
Finance expense on loans from group companies
Currency translation differences
Other finance expense
The finance expense on loans from third parties was €14 million lower owing to a lower net debt in 2016 following repayment of €400 million of borrowing under the EMTN programme and contracting of a loan of €300 million at a lower interest rate.
The finance expense on loans from group companies was €32 million lower mainly owing to a change in the composition of group companies, resulting in a reduction in both income and expense overall.