Notes to the consolidated and separate annual financial statements | Note 2

2. New standards, amendments and interpretations
 
2.1 Standards and interpretations effective and adopted in the current year
  The Group has adopted the following amendments to standards that were effective for the current financial
year. These standards, amendments to standards and interpretations did not have a material impact on the
Group’s financial statements.
  Standards and
amendments		 Subject Possible impact
on financial statements
 

Lack of Exchangeability (Amendments to IAS 21)

(Effective for annual reporting periods beginning on or after 1 January 2025. Earlier application is permitted.)

 The amendments contain guidance to specify when a currency is exchangeable into another currency and how to determine the spot exchange rate when it is not. The impact of the
amendment is not
material.
 

Classification and Measurement of Financial Instruments (Amendments to IFRS 9 and IFRS 7)

(Effective for annual reporting periods beginning on or after 1 January 2025. Earlier application is permitted.)

 The amendments address matters identified during the post-implementation review of the classification and measurement requirements of IFRS 9 Financial Instruments. The impact of the
amendment is not
material.
2.2 Standards and interpretations not yet effective
  The Group has chosen not to early adopt the following standards and interpretations, which have been published and are mandatory for the Group’s accounting periods beginning on or after 1 January 2025 or later periods:
  Standards and
amendments		 Subject Possible impact
on financial statements
 

Presentation and Disclosures in Financial
Statements – IFRS 18

(Effective for annual reporting periods beginning on or after 1 January 2027. Earlier application is permitted.)

 IFRS 18 includes requirements for all entities applying IFRS Accounting Standards for the presentation and disclosure of information in financial statements.

The Group plans to apply the new standard from 1 January 2027.

The Group expects that the new standard, when initially applied, will have a material impact on its financial statements.

The Group is in the process of assessment of the potential impact on its financial statements resulting from the application of IFRS 18.
 

Subsidiaries without Public Accountability:
Disclosures – IFRS 19

(Effective for annual reporting periods beginning on or after 1 January 2027. Earlier application is permitted.)

 IFRS 19 specifies the disclosure requirements an eligible subsidiary is permitted to apply instead of the disclosure requirements in other IFRS Accounting Standards.

The Group is currently eligible to apply IFRS 19 and it plans to apply the new standard from 1 January 2027.

The Group expects that the new standard, when initially applied will significantly reduce disclosures provided in many of the Group’s notes to the financial statements.