Gross margin is 26.5% (previous year: 26.4%) of net sales. After adjusting for profit charges arising from the carve-out (see Note 29), the gross margin is 27.5% (previous year: 27.9%).

The currency profits/losses of €–6,999k (previous year €13,397k) shown in the statement of income after set-off are essentially comprised within the cost of sales.