Page 16 - Annual Report KELAG Group 2018
P. 16

financial statements of these foreign subsidiaries are translated into euro for the consolidated
           financial statements using the functional currency method.

           The  assets  and  liabilities  of  non-Austrian  entities  are  generally  translated  at  the  reference
           exchange rate of the European Central Bank or national central banks as of the reporting date.
           Income and expenses are translated at average monthly exchange rates. Exchange differences as
           of the reporting date are recorded in other comprehensive income and disclosed separately in
           equity.


           The exchange rates used for currency translation developed as follows:





                                                                  2018    31/12/2018
            Bulgarian lev (BGN)                                  1.9558      1.9558
            Swiss franc (CHF)                                    1.1530      1.1269
            Czech koruna (CZK)                                  25.6674     25.7240
            Romanian lei (RON)                                   4.6560      4.6635
            Croatian kuna (HRK)                                  7.4203      7.4125
            Macedonian denari (MKD)                             61.5119     61.4950
            Serbian dinar (RSD)                                 118.2807   118.1946
            Bosnian marks (BAM)                                  1.9558      1.9558




                                                                  2017    31/12/2017
            Bulgarian lev (BGN)                                  1.9558      1.9558
            Swiss franc (CHF)                                    1.1129      1.1702
            Czech koruna (CZK)                                  26.3454     25.5350
            Romanian lei (RON)                                   4.5711      4.6585
            Croatian kuna (HRK)                                  7.4652      7.4400
            Macedonian denari (MKD)                             61.5945     61.4907
            Serbian dinar (RSD)                                 121.3952   118.4727
            Bosnian marks (BAM)                                  1.9558      1.9558
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