v3.25.2
Net finance expenses
 6 Months Ended
Jun. 30, 2025
Analysis of income and expense [abstract]  
Net finance expenses Net finance expenses
For the six month period ended
(in thousands of USD)
June 30, 2025
June 30, 2024
Interest income
6,866
13,292
Foreign exchange gains
18,841
10,124
Finance income
25,707
23,416
Interest expense on financial liabilities measured at amortized cost
(159,839)
(53,869)
Interest leasing
(2,515)
(198)
Fair value adjustment on interest rate swaps
(420)
—
Other financial charges
(4,297)
(5,111)
Foreign exchange losses
(41,076)
(10,218)
Finance expense
(208,147)
(69,396)
Net finance expenses
(182,440)
(45,980)
Interest expense on financial liabilities measured at amortized cost increased in the first six months of
2025 compared to the same period in 2024. This increase was related to an increase in interest expenses
on bank loans due to a higher average outstanding debt in 2025 compared to the same period last year.
Interest leasing is the interest on lease liabilities.
The increase in foreign exchange losses is primarily attributable to the decline in the EUR/USD exchange
rate, which had a negative impact on the outstanding loan balances under the Group’s EUR-denominated
facilities.