(6.) Currency translation

Foreign-currency transactions in the separate financial statements of WILO SE and consolidated subsidiaries are translated into functional currency at the transaction date exchange rate. Foreign-currency monetary assets and liabilities are translated at the average rate as at the end of the reporting period and any exchange gains or losses are recognised in profit or loss. Non-monetary assets and liabilities measured at cost are translated at the transaction date exchange rate. Non-monetary items measured at fair value are translated at the measurement date exchange rate. 

Items in the separate financial statements of consolidated entities are measured in the currency of the primary economic environment (functional currency).

Financial statements prepared in functional currencies other than the euro are translated into euro for consolidation. The reporting currency used in the consolidated financial statements is the euro. All assets and liabilities are translated at the exchange rate as at the end of the reporting period. Consolidated income statement items are translated for inclusion in the consolidated financial statements at annual average rates that appropriately approximate the transaction date exchange rates. Translation differences are accounted for as a separate component of consolidated equity until a subsidiary is disposed of. 

The main exchange rates used in currency translation are as follows:


Exchange rates

    Annual average rate Rate as at 31 December
  EUR 1 = 2016 2015 2016 2015
Pound sterling GBP 0.8227 0.7236 0.8581 0.7350
Chinese renminbi (yuan) CNY 7.3488 6.9434 7.3443 7.0724
Indian rupee INR 74.3119 70.9623 71.8220 72.3087
Polish zloty PLN 4.3638 4.1810 4.4180 4.2636
Russian rouble RUB 73.1804 68.6566 64.7667 80.4168
Swedish krona SEK 9.4761 9.3339 9.5656 9.1831
Swiss franc CHF 1.0894 1.0631 1.0754 1.0822
South Korean won KRW 1,279.9034 1,250.6113 1,276.2370 1,277.0284
Turkish lira TRY 3.3394 3.0361 3.7288 3.1815
US dollar USD 1.1040 1.1039 1.0568 1.0892

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WILO SE
Corporate Communications
Nortkirchenstraße 100
44263 Dortmund
T +49 231 4102-0
F +49 231 4102-7363

Contact

WILO SE
Corporate Communications
Nortkirchenstraße 100
44263 Dortmund
T +49 231 4102-0
F +49 231 4102-7363