Nabaltec_E_GB2016

S T N E M E T A T S L A I C N A N I F D E T A D I L O S N O C 62 ACCOUNTING POLICIES ■ ■ ■ ■ The new version is applicable for financial years beginning on or after 1 January 2016. The amendments were endorsed by the EU on 2 December 2015. First-time application had no impact on the consolidated financial statements. Amendments to IAS 19, “Employee benefits”: The IASB published amendments to IAS 19, “Defined benefit plans: employee contributions,” in November 2013. The amendments create an option with regard to accounting for defined benefit plans in which employees (or third parties) take part through mandatory contributions. The amendments apply retroactively to financial years beginning on or after 1 February 2015. The amendments were endorsed by the EU in January 2015. First-time application did not have a material impact on the Group’s financial, earnings and liquidity position. Amendments to IFRS 10, IFRS 12 and IAS 28, “Applying the consolidation exception”: In December 2014, the IASB adopted amendments to IFRS 10, IFRS 12 and IAS 28. These amendments clarify application of the consolidation exception when the parent company meets the definition of an investment entity. They explicitly confirm that the exception from the requirement to prepare consolidated financial statements applies to subsidiar- ies of an investment entity which are themselves parent companies. Subsidiaries which provide services relating to the investment activities of the parent company (investment- related services) are not to be consolidated if the subsidiary is itself an investment entity. The amendments also simplify application of the equity method for companies which are not themselves investment entities but which hold interests in associates which are invest- ment entities. Investment entities which measure all of their subsidiaries at fair value nus take the disclosures for investment entities which are required in accordance with IFRS 12. The new version is to be applied for financial years beginning on or after 1 January 2016. The amendments were endorsed by the EU on 22 September 2016. First-time application had no impact on the consolidated financial statements since the company does not meet the definition of an investment entity. Amendments to IFRS 11, “Accounting for acquisitions of interests in joint operations”: The amendments to IFRS 11 contain guidelines with regard to accounting for the acquisition of interests in joint operations when the latter represent a business in terms of IFRS 3. In that case, all principles arising from IFRS 3 and other IFRSs with regard to accounting for busi- ness combinations are to be applied unless they conflict with the guidelines established in IFRS 11. The amendments apply to the acquisition of interests in existing joint operations and to the acquisition of interest in a joint operation on its formation unless the formation of the joint operation coincides with formation of the business. The new version is to apply to financial years beginning on or after 1 January 2016. The amendments were endorsed by the EU on 24 November 2015. First-time application had no impact on the consolidated financial statements. Various: “Improvements to International Financial Reporting Standards 2012,” “Improve- ments to International Financial Reporting Standards 2014”: The IASB published the “Annual Improvements to IFRSs 2010–2012 Cycle” on 12 December 2013 and the “Annual Improvements to IFRSs 2012–2014 Cycle” on 25 September 2014. The annual improvement process enables the IASB to make improvements to the IFRSs which are less urgent, but nevertheless necessary. The annual improvement project 2010–2012 made minor changes to the following Standards: IFRS 2, IFRS 3, IFRS 8, IFRS 13, IAS 16 and IAS 24. These changes take effect for reporting periods beginning on or after 1 February 2015. The changes to IFRS 2 and IFRS 3 are to be applied to transactions which take place on or after 1 July 2014. The changes were endorsed by the EU in January 2015. The annual improvement project |||| Nabaltec AG | Annual Report 2016

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