Stevanato Group S.p.A. Annual and transition report of foreign private issuers pursuant to Section 13 or 15(d)

Finance Expense

Finance Expense

12 Months Ended

Dec. 31, 2021

Disclosure Of Finance Expense [Abstract]

12. Finance expense

Finance expense are as follows:


	For the years ended December 31,
(EUR thousand)	2021		2020		2019
Interest on debts and borrowings		4,286		5,333		4,109
Financial discounts and other expenses		102		37		871
Interest on lease liabilities		585		624		626
Financial component IAS 19		28		125		374
Foreign currency exchange losses		10,172		12,033		5,334
Derivatives devaluation		3,211		2,471		2,513
Other fair value adjustments		424		1,225		1,423
Total finance expense		18,808		21,848		15,250

Finance expenses include bank interest on the Group’s financial debt (recalculated using the amortized cost method) and interest on leases about the portion of financial expenses payable matured in the reporting period on the liabilities, recognized in accordance with IFRS 16 - Leases.

Foreign exchange differences are realized, and unrealized gains and losses incurred on transactions in currencies other than the functional currency of the Group; the net foreign currency exchange impact, given by the sum of gains and losses, amounts to EUR (2,584) thousand for the year ended December 31, 2021, EUR (448) thousand for the year ended December, 31 2020 and EUR (545) thousand for the year ended December 31, 2019.

For the year ended December 31, 2021, foreign currency exchange losses are affected by non-recurring loss amounting to EUR 4,280 thousand related to a derivative financial instrument entered into to reduce the risk of fluctuations in the EUR/USD exchange rate in relation to the IPO proceeds.