A number of new accounting standards are effective for annual reporting periods beginning after January 1, 2026, and earlier application is permitted. However, the Group has not early adopted the following new or amended accounting standards in preparing these Consolidated Financial Statements:
IFRS 18, which replaces IAS 1 Presentation of Financial Statements, is effective for annual reporting periods beginning on or after January 1, 2027. The standard introduces new presentation requirements, including the classification of income and expenses into five categories, the presentation of a defined operating profit subtotal, enhanced aggregation and disaggregation guidance, and a dedicated note for management-defined performance measures (“MPMs”). It also requires entities using the indirect method to begin the Consolidated Cash Flow Statement with operating profit.
In 2025, the Group continued to assess the implications of IFRS 18, focusing on potential impacts on the structure of the Consolidated Income Statement, the Consolidated Cash Flow Statement and the disclosures related to MPMs. The Group is also reviewing how the new aggregation and disaggregation requirements may affect certain existing line items.
The Group is assessing other new and revised accounting standards that will not be mandatory until after 2025. These standards are not expected to have a significant impact on the Group’s Consolidated Financial Statements:
New accounting standards or amendments | Effective date |
Classification and Measurement of Financial Instruments - Amendments to IFRS 9 and IFRS 7 | January 1, 2026 |
Contracts Referencing Nature-dependent Electricity - Amendments to IFRS 9 and IFRS 7 | January 1, 2026 |
Annual Improvements to IFRS Accounting Standards - Volume 11 | January 1, 2026 |
IFRS 19 Subsidiaries without Public Accountability: Disclosures | January 1, 2027 |
Sale of Contribution of Assets between an Investor and its Associate or Joint Venture - Amendments to IFRS 10 and IAS 28 | To be determined |