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CONSOLIDATED FINANCIAL STATEMENTS AND CONSOLIDATED MANAGEMENT REPORT 2015
In accordance with mercantile legislation, for comparative purposes, figures for both 2015 and 2014 are presented for
each of the captions included in the consolidated statement of financial position, consolidated separate income statement,
consolidated statement of comprehensive income, consolidated statement of changes in equity and consolidated cash
flow statement. In the notes to the consolidated financial statements quantitative information for 2014 is also included,
unless an accounting standard specifically states that this is not required.
In accordance with the terms of the single additional provision of the Resolution of the Institute of Accounting and
Auditors of Accounts on information to be included in notes to the financial statements regarding the average payment
period to suppliers, the Company will only present the information for the year in Note 23.3, rather than comparative
information; therefore, these are considered first-time consolidated financial statements for these exclusive effects, with
regard to the application of the uniformity principle and the comparability requirement.
2.2. Changes in accounting policies
a) EU-approved standards and interpretations applicable for the first time in 2015
The accounting policies used to prepare the accompanying consolidated financial statements are the same as those
used to prepare the consolidated financial statements for the year ended December 31, 2014, as no new accounting
principles, interpretation, or amendments applicable for the first time this year has had an effect on the Group.
b) Standards and interpretations published by the IASB, but not yet applicable in this period
The Group intends to adopt these standards, interpretations, and amendments thereof published by the IASB but
not considered mandatory in the European Union at the date these consolidated financial statements were prepared.
However, they will be applied when they come into force. Based on the information available to date, the Group believes
that their first-time application will not have a material impact on the consolidated financial statements
IFRS 2 Share-based payments
This improvement is applied prospectively, and clarifies a number of topics related to the definition of service conditions
and performance which are necessary for the concession to be vested.The clarifications are consistent with the Group’s
prior year identification of the performance and service conditions contingent to the concession’s vesting period. The
Group had not granted any rights during the second quarter of 2014 or in 2015.Thus, these changes have no effect on
the Group’s consolidated financial statements or accounting policies.
IFRS 8 Operating segments
The amendments are applied retroactively and clarify that:
• An entity must reveal management’s judgments when applying the aggregation criteria discussed in paragraph 12
of IFRS 8, including a brief description of the operating segments added, as well as the economic characteristics
(i.e., sales and gross margins) used to evaluate whether segments are “similar.”
• The reconciliation between segment and total assets must only be broken down if it is communicated to the
maximum decisionmaking authority.The same applies to the required breakdowns for segment liabilities.
• The Group did not apply IFRS 8.12 aggregation criteria. The Group details this in Note 5 to the consolidated
financial statements for the year, and reports thusly to the maximum decisionmaking authorities.