The Company will apply IFRS No. 9 “Financial Instruments” and IFRS No. 15 “Revenue from Contracts with Customers” for the year beginning on January 1, 2018. The Company has completed an analysis of the financial impacts resulting from adoption of new standards and the estimated effect on equity in the consolidated financial statements at the date of initial application based on available information which are summarized as follows.
| December 31, 2017 |
IFRS No. 9 | IFRS No. 15 | Date of initial application (January 1, 2018) |
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Reserves |
￦ | (682,556 | ) | (401,344 | ) | — | (1,083,900 | ) | ||||||||
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Retained earnings |
42,974,658 | 368,612 | (71,066 | ) | 43,272,204 | |||||||||||
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Non-controlling interests |
3,666,334 | (19,545 | ) | (59,060 | ) | 3,587,729 | ||||||||||
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| ￦ | 45,958,436 | (52,277 | ) | (130,126 | ) | 45,776,033 | ||||||||||
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