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 2023 or later:

• IFRS 17 (Insurance Contracts)
• 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)
• IFRS 17 (Amendements: Initial Application of IFRS 17 and IFRS 9 – Comparative Information)
• IAS 12 (Amendments: International Tax Reform – Pillar Two Model Rules)

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 2023/2024 Semi-Annual Financial Statements, the following amendments adopted by the EU were not applied early:

Entry into force in the EU on 1 January 2024:

• IAS 1 (Amendments: Classification of Liabilities as Current or Non-current, Deferral of Effective Date)
• IFRS 16 (Amendments: Lease Liability in a Sale and Leaseback)
• IAS 1 (Amendments: Non-current Liabilities with Covenants)
• IAS 7, IFRS 7 (Amendments: IAS 7 Statement of Cash Flows and IFRS 7 Financial Instruments: Disclosures: Supplier Finance Arrangements)

The following standards and interpretations, amendments and improvements of standards enter into force on 1 January 2025 or a later date, although they have not yet been adopted by the European Union at this time:

• IAS 21 (Amendments: The Effects of Changes in Foreign Exchange Rates: Lack of Exchangeability)
• IFRS 18 (Presentation and Disclosure in Financial Statements)
• IFRS 19 (Subsidiaries without Public Accountability: Disclosures)

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

To improve the informative value of the statement of income and also to ensure comparability between companies in the same sector, earnings 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) 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: