General Accounting Principles of the Combined Financial Statements

The Combined Financial Statements are prepared in euros. This corresponds to the currency of the groups' primary economic environment (functional currency).

The items of each entity included in the financial statements are measured using the currency of the primary economic environment in which the entity operates (functional currency).

Transactions in foreign currency in the financial statements of the groups' combined companies are translated into the functional currency using the exchange rate applicable as at the transaction date. Gains and losses resulting from the settlement of such transactions as well as from the translation of monetary assets and liabilities maintained in foreign currency at the closing rate are recognised in profit or loss.

Financial statements of subsidiaries which were prepared in a functional currency other than the euro reporting currency are translated pursuant to the concept of functional currency translation. Assets and liabilities are translated using the closing rate for each balance sheet date. For the sake of simplification, the income and expense items in the income statement are translated at the average rate for the period.

Differences from the translation of financial statements prepared in a different functional currency are recognised directly in equity. A translation difference recognised directly in equity will not be realised until the corporate unit is deconsolidated.

Financial statements that are accounted for using the equity method and prepared in a different functional currency are also translated pursuant to the functional currency concept when adjusting equity.