19. Translation differences

Financial statements CSR report

 

31 December

(thousands of €)

2018

2017

On 1 January

(1,754)

(1,090)

Translation differences, arisen from translating foreign activities

197

(664)

Translation differences on 31 December

(1,557)

(1,754)

Translation differences decreased from a negative €1.8 million at the end of December 2017 to a negative of €1.6 million at the end of December 2018 mainly due to fluctuations of the GB pounds and the U.S. dollar exchange rates.