Debt & ratings
Average cost & maturity of financial debt (%)
| FY23 | FY24 | |
| Average cost (%) | 4.39% | 4.16% |
| Subordinated/Hybrid | 4.25% | 4.24% |
| Senior | 5.13% | 3.51% |
| Average maturity (years) | 4.4 | 4.9 |
| Interest expenses on financial debt (€ m) | 447 | 493 |
Total financial debt (€ m)
