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NET FINANCIAL EXPENSES (Tables)
 12 Months Ended
Dec. 31, 2019
Net financial (expenses)/income [Abstract]  
Disclosure of financial income and expenses
The following table sets out details of financial income and expenses, including the amounts reported in the consolidated income statement within the net financial expenses line item, as well as interest income from financial services activities, recognized under net revenues, and interest expenses and other financial charges from financial services activities, recognized under cost of sales.
 
For the years ended December 31,
 
2019
 
2018
 
2017
Financial income:
(€ thousand)
Interest income from bank deposits
1,690

 
1,445

 
1,153

Other interest income and financial income
4,116

 
677

 
5,284

Interest income and other financial income
5,806

 
2,122

 
6,437

Finance income from financial services activities
66,386

 
52,702

 
50,254

Total financial income
72,192

 
54,824

 
56,691

 
 
 
 
 
 
Total financial income relating to:
 
 
 
 
 
Industrial activities (A)
5,806

 
2,122

 
6,437

Financial services activities (reported in net revenues)
66,386

 
52,702

 
50,254

 
 
 
 
 
 
Financial expenses:


 


 


Capitalized borrowing costs
2,671

 
2,884

 
1,578

Other interest cost and financial expenses
(2,427
)
 
(1,046
)
 
(3,775
)
Interest expenses and other financial expenses
244

 
1,838

 
(2,197
)
Interest expenses from banks
(27,432
)
 
(21,486
)
 
(23,057
)
Interest and other finance costs on bonds and notes
(20,703
)
 
(12,386
)
 
(9,231
)
Write-downs of financial receivables
(4,739
)
 
(3,326
)
 
(3,530
)
Other financial expenses
(13,949
)
 
(8,494
)
 
(12,008
)
Total financial expenses
(66,579
)
 
(43,854
)
 
(50,023
)
Net expenses from derivative financial instruments and foreign currency exchange rate differences
(26,392
)
 
(15,659
)
 
(16,619
)
Total financial expenses and net expenses from derivative financial instruments and foreign currency exchange rate differences
(92,971
)
 
(59,513
)
 
(66,642
)



 


 


Total financial expenses and net expenses from derivative financial instruments and foreign currency exchange rate differences relating to:


 


 


Industrial activities (B)
(47,888
)
 
(25,685
)
 
(35,697
)
Financial services activities (reported in cost of sales)
(45,083
)
 
(33,828
)
 
(30,945
)
 
 
 
 
 
 
Net financial expenses relating to industrial activities (A+B)
(42,082
)
 
(23,563
)
 
(29,260
)