Annual report 2014

Revised presentation

In connection with the revised presentation described above, the investment accounted for at equity in METRO AG is presented in the segment reporting as a separate segment since the beginning of the financial year. Figures for the previous year have been adjusted accordingly.

The IASB and the IFRS IC have issued new and amended rules whose application is not mandatory for the Haniel Group until financial year 2015 or later. For these standards to be applicable, the required endorsement by the Commission of the European Union is still pending in some cases. The relevant Standards and Interpretations are:

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IFRS 9 (2014): “Financial Instruments”
IFRS 14 (2014): “Regulatory Deferral Accounts”
IFRS 15 (2014): “Revenue from Contracts with Customers”
Amendments to IFRS 10, IFRS 12 and IAS 28 (2014): “Investment Entities: Applying the Consolidation Exception”
Amendments to IFRS 10 and IAS 28 (2014): “Sale or Contribution of Assets between an Investor and its Associate or Joint Venture”
Amendments to IFRS 11 (2014): “Accounting for Acquisitions of Interests in Joint Operations”
Amendments to IAS 1 (2014): “Disclosure Initiative”
Amendments to IAS 16 and IAS 38 (2014): “Clarification of Acceptable Methods of Depreciation and Amortisation”
Amendments to IAS 16 and IAS 41 (2014): “Agriculture: Bearer Plants”
Amendments to IAS 19 (2013): “Defined Benefit Plans – Employee Contributions”
Amendments to IAS 27 (2014): “Equity Method in Separate Financial Statements”
IFRIC 21 (2013): “Levies”
Annual Improvements to IFRSs 2010-2012 Cycle (2013)
Annual Improvements to IFRSs 2011-2013 Cycle (2013)
Annual Improvements to IFRSs 2012-2014 Cycle (2014)

The option of early application of standards already issued was not exercised. Based on our current estimates, early application of the standards already adopted by the Commission of the European Union would have had no material effects on the presentation of the net assets, financial position, and results of operations in the 2014 financial year. The potential effects from IFRS 15 on revenue recognition and from IFRS 9 on accounting for financial instruments as at the date of first-time mandatory application are being analysed.