Changes in Accounting and Valuation Methods
In 2017, the research and development costs of €28.9 million previously included in selling expenses were recognized for the first time under research and development expenses. The corresponding prior-year figures were adjusted accordingly. As a result, selling expenses were lower and research and development expenses higher, amounting to €30.0 million in 2016. The change is intended to show the functional costs more clearly. In 2017, for the first time, exchange-rate effects from intra-Group financing (including the effects of foreign currency derivatives concluded) were recognized under other financial result instead of under other operating income and expenses. The reason for this change in presentation is to show more clearly the substantially higher finance expense in 2017, due to exchange-rate effects, that is no longer attributable to the short-term interim financing associated with operating activities. The accounting and valuation methods are otherwise unchanged.