5. Changes in accounting principles and data presentation

New standards and interpretations effective as of 1 January 2023

The accounting principles used in drawing up these financial statements are consistent with those followed in the preparation of the separate financial statements for the year 2022, with the exceptions presented below. The changes to the IFRSs referred to below were applied in these financial statements as of their respective effective dates. The changes connected with the entry into force of IFRS 17 Insurance Contracts are described below. The other changes did not have any material impact on the presented and disclosed financial information or did not apply to transactions entered into by the Group:

• Amendments to IAS 1 – amendments relate to the presentation of disclosures about accounting policies applied.
• Amendments to IAS 8 – amendments relate to disclosures about accounting policies applied, including changes in accounting estimates and the correction of errors.
• Amendments to IAS 12 – amendments relate to the obligation to recognise deferred income tax, in relation to assets and liabilities arising from a single transaction.
• Amendments to IAS 12 – amendments relate to the International Tax Reform (Pillar Two).

The Group has not elected to early adopt any of the standards, interpretations or changes that have been published but are not yet effective in accordance with the European Union regulations.

IFRS 17 Insurance Contracts

IFRS 17 introduces a new approach to the valuation of insurance liabilities, the recognition of revenue and profit/loss in a period of providing insurance services.

The Group analysed its contracts against the criteria of insurance contracts, in accordance with IFRS 17 Insurance Contracts. No contracts meeting these criteria were identified.