3. Consolidation, Accounting and Valuation Principles

3.1 Basis for Preparation of the Financial Statements

The Condensed Interim Consolidated Financial Statements for the period from 1 January to 30 September 2015 were prepared in compliance with the rules of IAS 34 Interim Financial Reporting.

The IFRS requirements that apply in the European Union have been met in full.

The Condensed Interim Consolidated Financial Statements should be read in conjunction with the audited Consolidated Financial Statements as of 31 December 2014.

3.2 Principal Accounting and Valuation Methods

The accounting and valuation methods used for the preparation of the Condensed Interim Consolidated Financial Statements correspond to the methods used in the preparation of the Consolidated Financial Statements as of 31 December 2014. The company started applying the following new standards on 1 January 2015:

• IFRIC 21 Levies
• Amendment to IAS 19: Defined Benefit Plans: Employee Contributions
• Improvements to IFRS 2010–2012 Cycle
• Improvements to IFRS 2011–2013 Cycle

Applying these standards had no significant impact on the Condensed Interim Consolidated Financial Statements.

3.3 Changes in the Group of Consolidated Companies

Real Estate company METRANS Konténer Kft., Budapest, Hungary, (previously: Loacker Konténer Kft.) was included in HHLA’s Consolidated Financial Statements for the first time as of 30 June 2015. For more information, please refer to Note 4.