8 Financial expense
CHF million | 1st half-year | 1st half-year | ||
Expense for derivatives | –4.5 | –6.0 | ||
Interest expense for bond issues | –5.5 | –5.4 | ||
Interest expense payable to banks/insurance companies for liabilities | –4.3 | –3.7 | ||
Interest expenses for lease liabilities | –0.3 | 0.0 | ||
Capitalised building loan interest | 0.1 | 0.1 | ||
Financial expense | –14.5 | –15.0 |
Expense for derivatives is in connection with the recycling of hedging reserves, CHF 4.5 million (1st half-year 2018: CHF –6.0 million) of which was charged to the income statement as non-cash expense in the period under review.