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ENAV Group Consolidated Financial Statements

The amendments require the disclosure of changes to these liabilities/assets,
distinguishing the monetary changes from the non-monetary ones (for example:
changes arising from obtaining or losing control of subsidiaries or other businesses,
the effect of changes in the rate of exchange and changes to fair value). The IASB
recommends providing this disclosure in the form of a table reconciling the balances
for these assets/liabilities at the start of the period with those at the end of the
period. The amendments will be applicable from the financial periods beginning 1
January 2017 or later. The Group does not envisage any impacts from the future
application of these new regulations.
Amendments to IAS 12 - Recognition of deferred tax assets for unrealised losses, issued
in January 2016, provide clarification on the methods for recognising deferred tax
assets relating to debt instruments measured at fair value. Briefly, the amendments
clarify the requirements for recording deferred tax assets with reference to unrealised
losses in order to eliminate different accounting practices. Subject to approval, the
amendments will be applicable from the financial periods beginning 1 January 2017
or later. Early application is permitted. The Group is assessing the potential effects of
applying this new standard in the future.

100 ENAV - Annual financial report 2015