5. Effects of new accounting standards

• Amendments to IAS 21 The Effects of Changes in Foreign Exchange Rates: Lack of Exchangeability
  On 12 November 2024, the European Union published and adopted its amendments to IAS 21 The Effects of Changes in Foreign Exchange Rates dated 15 August 2023. The amendment relates to the determination of the exchange rate in cases where it is not possible to convert currency over the long term and supplements IAS 21 with regulations on exchange rate conversions to be applied if one currency cannot be converted into another.

• Amendments to the classification and measurement of financial instruments (amendments to IFRS 9 and IFRS 7)
  The European Union published and adopted its amendments dated 30 May 2024 to the classification and measurement of financial instruments on 27 May 2025. The amendments adopted include the clarification of the classification of financial assets that are linked with environmental, social and corporate governance (ESG) aspects, and with similar characteristics. With these amendments, the IASB wants to clarify how the contractual cash flows for relevant instruments are to be evaluated in this context. The amendments apply to financial years beginning on or after 1 January 2026. The impact on the consolidated financial statements would be immaterial.

• Contracts referencing nature-dependent electricity (Amendments to IFRS 9 and IFRS 7)
  On 30 June 2025, the IASB published and adopted amendments to contracts relating to electricity from natural sources dated 18 December 2024. The relevant contracts help companies to obtain electricity generated by sources such as wind or solar power. These are often structured as power purchase agreements (PPAs). The application of the current accounting guidelines may lead to effects on net income that do not necessarily adequately reflect the impact of these contracts on the performance of the reporting company. The amendments aim to improve the representation of such contracts in the company financial statements and apply to financial years beginning on or after 1 January 2026. The impact on the consolidated financial statements would be immaterial.

• Annual improvements – Volume 11
  On 9 July 2025, the European Union published and adopted its amendments dated 18 July 2024 to the Annual Improvements to IFRS Accounting Standards – Volume 11. It contains amendments to IFRS 1, IFRS 7, IFRS 9, IFRS 10 and IAS 7. The IASB annual improvements are limited to amendments that either clarify the wording of an IFRS standard or that correct relatively minor unintended consequences, mistakes or conflicts between the requirements in the standards. The amendments apply to financial years beginning on or after 1 January 2026. The impact on the consolidated financial statements would be immaterial.

• IFRS 18 Presentation and Disclosure in Financial Statements
  On 16 February 2026, the European Union published and adopted a new accounting standard for presenting financial statements with IFRS 18 Presentation and Disclosure in Financial Statements, dated 9 April 2024. IFRS 18 will replace the currently valid IAS 1 Presentation of Financial Statements and make several minor amendments to other standards, such as IAS 7 Statement of Cash Flows. The new regulations primarily aim to improve comparability of the performance assessment – particularly by introducing categories with defined content and introducing defined subtotals in the income statement, as well as the deletion of disclosure options in the cash flow statement. IFRS 18 is mandatory for financial years which begin on or after 1 January 2027. The Group is currently measuring the impact of the new standard, particularly with regard to the structure of the Group income statement, cash flow statement and additional obligatory disclosures for MPMs (management-defined performance measures).

• IFRS 19 Subsidiaries without Public Accountability: Disclosures
  On 9 May 2024, the IASB published IFRS 19 Subsidiaries without Public Accountability: Disclosures. IFRS 19 aims to significantly streamline the disclosure requirements for subsidiaries that are not subject to public accountability and whose parent company presents publicly accessible consolidated financial statements using IFRS methods. The context behind IFRS 19 is to reduce the workload and costs associated with preparing IFRS financial statements for the subsidiaries falling under the scope of application while simultaneously preserving the benefits of the information for users of financial statements. IFRS 19 applies to reporting periods that begin on or after 1 January 2027. Early adoption is permitted.

• Amendments to IFRS 19 Subsidiaries without Public Accountability: Disclosures
  On 21 August 2025, the IASB published amendments to IFRS 19 Subsidiaries without Public Accountability: Disclosures, which conclude the scheduled amendments to this standard. The version of IFRS 19 published in May 2024 was simply updated with streamlined disclosure requirements according to IFRS accounting standards published before February 2021. This supplemented the streamlined disclosure requirements for standards and amendments issued between February 2021 and May 2024. The amendments to IFRS 19 apply to reporting periods that begin on or after 1 January 2027. Early adoption is permitted.

• Amendments to IAS 21 The Effects of Changes in Foreign Exchange Rates: Translation to a Hyperinflationary Presentation Currency
  On 13 November 2025, the IASB published its amendments to IAS 21 The Effects of Changes in Foreign Exchange Rates: Translation to a Hyperinflationary Presentation Currency. The narrowly defined adjustments demonstrate how companies must translate financial statements from a non-hyperinflationary presentation currency into a hyperinflationary presentation currency. The amendments to IAS 21 take effect for reporting periods that begin on or after 1 January 2027. Early adoption is permitted.