The Group has applied the following standards and amendments for the first time:

•    Amendments to IFRS 3: Reference to the Conceptual Framework

Amendments to IAS 16: Property, Plant and Equipment – Proceeds before Intended Use

Amendments to IAS 37: Onerous Contracts – Cost of Fulfilling a Contract

Annual Improvements to IFRSs (2018 – 2020 cycle)

Standards, amendments and interpretations to existing standards that are not yet effective and have not been applied early by the Group

The IASB has issued a number of other pronouncements. These recently implemented accounting pronouncements as well as the pronouncements that have not yet been implemented have no material impact on NORMA Group’s Consolidated Financial Statements.


These contents are part of the Non-financial Group Report and were subject to a separate limited assurance examination.