The annual financial statements of consolidated companies prepared in foreign currencies are translated into euros in line with the concept of functional currencies pursuant to IAS 21. The functional currency of all foreign companies of the BLG Group is the relevant local currency, as the companies conduct their business independently in a financial, economic and organizational sense. Accordingly, the assets and liabilities were translated at the exchange rate on the reporting date, while expenses and income were translated at the average annual exchange rate. The resulting currency translation differences were recognized directly in equity.
As of December 31, 2024, currency translation differences of EUR 6,233 thousand (previous year: EUR 8,141 thousand) are recognized in equity (please refer to the statement of changes in equity). Currency translation took place on the basis of the exchange rates shown in the table.
EUR |
|
Reporting date 12/31/2024 |
|
Average |
|
Reporting date 12/31/2023 |
|
Average |
|---|---|---|---|---|---|---|---|---|
1 US dollar |
|
0.9626 |
|
0.9239 |
|
0.9050 |
|
0.9248 |
1 Chinese yuan renminbi |
|
0.1319 |
|
0.1284 |
|
0.1274 |
|
0.1305 |
1 Indian rupee |
|
0.0112 |
|
0.0110 |
|
0.0109 |
|
0.0112 |
1 Malaysian ringgit |
|
0.2153 |
|
0.2020 |
|
0.1969 |
|
0.2028 |
1 Polish złoty |
|
0.2339 |
|
0.2322 |
|
0.2304 |
|
0.2202 |
1 Russian ruble |
|
0.0094 |
|
0.0100 |
|
0.0101 |
|
0.0108 |
1 South African rand |
|
0.0510 |
|
0.0504 |
|
0.0491 |
|
0.0501 |
1 Ukrainian hryvnia |
|
0.0230 |
|
0.0230 |
|
0.0239 |
|
0.0253 |
Receivables and payables are translated at the end of the reporting period in accordance with IAS 21 in the separate financial statements of the consolidated companies presented in local currency. Currency translation differences were recognized through profit or loss as other operating income or expense. Non-monetary assets that are measured on the basis of cost were measured at the exchange rate on the day of the transaction.