2. Change in accounting methods

2.1 Standards and interpretations applied or amended and adopted by the EU for the first time

Newly applicable amended standards adopted by the EU that take effect¹⁾ on 1 January 2022 or later:

• IFRS 3 (Amendments: Reference to the Conceptual Framework)
• IAS 37 (Amendments: Onerous Contracts – Costs of Fulfilling a Contract)
• IAS 16 (Amendments: Property, Plant & Equipment: Proceeds before Intended Use)
• Annual Improvements to IFRS Standards 2018-2020 Cycle (Amendments to IFRS 1, IFRS 9, IFRS 16 and IAS 41)

The amended standards do not have a material impact on the Consolidated Financial Statements.

2.2 Standards and interpretations that have not been applied early

In the 2022/2023 Consolidated Financial Statements, the following amendments adopted by the EU were not applied early:

Entry into force in the EU on 1 January 2023 or later:

• IFRS 17 (Insurance Contracts)
• IFRS 17 (Amendements: Intitial Application of IFRS 17 and IFRS 9 – Comparative Information)
• IAS 1 (Amendments: Disclosure of Accounting Policies)
• IAS 8 (Amendments: Definition of Accounting Estimates)
• IAS 12 (Amendments: Deferred Tax related to Assets and Liabilities arising from a Single Transaction)
• IAS 12 (Amendments: International Tax Reform – Pillar Two Model Rules)
• IFRS 16 (Amendments: Lease Liability in a Sale and Leaseback)

The following standards and interpretations, amendments and improvements of standards enter into force on 1 January 2024 or a later date, although they have not yet been adopted by the European Union at this time:

• IAS 1 (Amendments: Classification of Liabilities as Current or Non-current, Deferral of Effective Date)
• IAS 1 (Amendments: Non-current Liabilities with Covenants)
• IAS 7, IFRS 7 (Amendments: Supplier Finance Arrangements)
• IAS 21 (Amendements: Lack of Exchangeability)

These standards are expected to be applied on the effective date promulgated by the EU.

The following standard came into force on 1 January 2016, but was not adopted by the EU:

• IFRS 14 (Regulatory Deferral Accounts)

Application of the following standard was postponed indefinitely:

• IFRS 10 and IAS 28 (Amendments: Sale or Contribution of Assets between an Investor and its Associate or Joint Venture)

The first-time application of these standards is not expected to result in any significant implications for the Consolidated Financial Statements.

2.3 Other changes

In the Statement of Financial Position as of 30 September 2022, EUR 1,849.0 thousand were reported under non-current liabilities under item “V. Advances received”. Long-term advances received are now no longer shown separately, but instead displayed under “VI. Other non-current liabilities” due to their negligibility. The previous year's period was restated accordingly.

To improve the informative value of the statement of income and also to ensure comparability between companies in the same sector, results from the measurement of energy derivatives without hedge accounting from the Spark Spread portfolio of Gas- und Dampfkraftwerk Timelkam GmbH (GuD) and Cogeneration-Kraftwerke Management Oberösterreich GmbH (CMOÖ) amounting to EUR 246.2 million are reported in a separate item in the statement of income. The change in the accounting method was made retrospectively in accordance with IAS 8 by adjusting the comparative information. The sales revenues for the previous year in the amount of EUR 4,002.1 were reduced by EUR 8.4 million to EUR 3,993.7 million and the separate item was increased by EUR 8.4 million.