21. Translation differences

21. Translation differences

 

31 December

(thousands of €)

2017

2016

On 1 January

(1,090)

(467)

Translation differences, arisen from translating foreign activities

(664)

(623)

Translation differences on 31 December

(1,754)

(1,090)

Translation differences increased from a negative €1.1 million at the end of December 2016 to a negative of €1.8 million at the end of December 2017 mainly due to fluctuations of the GB pounds and the U.S. dollar exchange rates.