Notes to the financial statements | Note 2.2

2. Accounting framework and significant judgements
2.2 New accounting pronouncements
 
2.2.1 Other standards, amendments to standards and interpretations

The standards and amendments to standards listed below were adopted, effective 1 April 2025, and did not have a material impact on the Group:

Consideration Effective date
IAS 21 (The Effects of Changes in Foreign Exchange Rates) Annual periods beginning on or after 1 January 2025
Amendment regarding the entity's transaction or operation in a foreign currency that is not exchangeable into another currency at a measurement date for a specified purpose

The standards and amendments listed below will be effective in future reporting periods. It is expected that the Group will adopt the pronouncements on their respective effective dates.

Consideration Effective date
IFRS 7 (Financial Instruments: Disclosures) and IFRS 9 (Financial Instruments) Annual periods beginning on or after 1 January 2026
Amendment regarding classification and measurement of financial instruments. This amendment is not expected to have a material impact on the Group.
IFRS 7 (Financial Instruments: Disclosures) and IFRS 9 (Financial Instruments) Annual periods beginning on or after 1 January 2026
Amendment regarding contracts referencing nature-dependent electricity. This amendment is not expected to have a material impact on the Group.
Annual Improvements to IFRS Accounting Standards – Volume 11 Annual periods beginning on or after 1 January 2026
The IASB has issued various amendments and clarifications to existing IFRS, none of which is expected to have a material impact on the Group's financial statements
IFRS 18 (Presentation and Disclosure in Financial Statements) Annual periods beginning on or after 1 January 2027

The new standard on presentation and disclosure in IFRS 18 focuses on updates to the structure of the statement of profit or loss. This includes required disclosures in the financial statements for certain profit or loss performance measures that are reported outside an entity's financial statements and enhanced principles on aggregation and disaggregation that apply to primary financial statements and notes in general.

IFRS 18 will be effective for annual reporting periods beginning on or after 1 January 2027, but earlier application is permitted and must be disclosed. IFRS 18 will apply retrospectively.

The Group has initiated an impact assessment and is currently assessing the detailed implications of applying the new standard on the Group's consolidated financial statements. Even though IFRS 18 will not impact the recognition or measurement of items in the financial statements, its impact on presentation and disclosure is expected to be pervasive. In particular, the impact of the adoption is anticipated to include:

  • The presentation of new subtotals in the statement of profit or loss;
  • The review and alignment of income and expense classifications into categories; and
  • Additional disclosures for management-defined performance measures (MPMs).
IFRS 19 (Subsidiaries without Public Accountability) Annual periods beginning on or after 1 January 2027
IFRS 19 is a voluntary accounting standard that eligible subsidiaries can apply when preparing their own consolidated, separate or individual financial statements. This amendment is not expected to have a material impact on the Group.
IAS 21 (The Effects of Changes in Foreign Exchange Rates) Annual periods beginning on or after 1 January 2027
Amendment regarding translation procedures for entities with a presentation currency of a hyperinflationary economy. This amendment is not expected to have a material impact on the Group.