| Translation to euros took place at the offical middle rate on the day the books were closed. The translation differences caused by elimination of equity were treated as adjustment items for consolidated unrestricted equity. Portions of the earnings of companies in which the Group owns 20-50% of the shares and votes were combined in the consolidated financial statements using the equity method.
The portion of the profit for the financial year corresponding to the Group's holding is presented in the share of profits less losses of participating interests. The participating goodwill for the participating interest was entered as a non-recurring expense.
Items Denominated in Foreign Currencies
Receivables, debts and liabilities denominated in foreign currencies were translated into euros at the official middle rate on the day the books were closed. Advance payments made and received were entered in the parent company's balance sheet at the rate on the date of payment. Exchange rate differences on trade receivables and payables were treated as adjustments of sales and purchases.
Other exchange rate differences on other receivables and payables were entered as exchange rate differences under financial income and expenses. Accumulated exchange rate differences were entered in their entirety in the profit and loss statement.
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