FINANCIAL INCOME AND EXPENSES | | | | | | | | | | | | | | | | | | | | | | | Year ended 31 December | CHF in millions | | 2025 | | 2024 | | 2023 | Finance income: | | | | | | | Interest income | | 3.5 | | 8.1 | | 3.0 | Dividend income | | — | | — | | — | Realised and unrealised gains on derivative instruments | | — | | 249.6 | | — | Foreign currency transaction gains | | 420.2 | | — | | 568.6 | Gains due to changes in fair values of certain investments and debt, net | | — | | — | | 3.1 | Other financial income | | 2.1 | | — | | — | Total | | 425.8 | | 257.7 | | 574.7 | Finance expenses: | | | | | | | Interest expense | | (313.3) | | (432.9) | | (431.1) | Realised and unrealised losses on derivative instruments | | (290.1) | | — | | (524.5) | Foreign currency transaction losses | | — | | (295.2) | | — | Losses on debt modification and extinguishment | | (29.2) | | (4.0) | | (0.1) | Losses due to changes in fair values of certain investments and debt, net | | (21.0) | | (6.1) | | — | Other financial expense | | (2.7) | | (4.4) | | (1.5) | Total | | (656.3) | | (742.6) | | (957.2) |
Losses due to changes in fair values of certain investments and debt, net includes an impairment loss of CHF 20.2 million on its equity-accounted investment in CH Media TV AG. For details please refer to Note 25 Investments.
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