With independent auditor’s report

Taxes collected from customers and remitted to governmental authorities
Refundable taxes (excise and value-added tax (“VAT”)) are deducted from revenues. Other taxes and duties
are not deducted from revenues and are recognized as expenses in Taxes other than income tax in the
consolidated statement of profit or loss.
Pension and other post-retirement benefits
The Group provides long-term employee benefits to employees before, on and after retirement, in accordance
with the collective agreements between the Group’s entities and their employees. The collective agreement
provides for certain one-off retirement payments, payments on holidays, pension supplements, financial aid
for employees’ disability, anniversaries, funeral and other benefits. The entitlement to benefits is usually
conditional on the employee remaining in service up to retirement age.
The expected costs of the benefits associated with one-off retirement payments are accrued over the period
of employment using the same accounting methodology as used for defined benefit post-employment plans
with defined payments upon the end of employment. Net interest expense relating to pensions and other post-
retirement benefits, which is recognized in the consolidated statement of profit or loss, represents the net
change in present value of plan obligations and the value of plan assets resulting from the passage of time,
and is determined by applying the discount rate to the present value of the benefit obligation at the start of the
year, and to the fair value of plan assets at the start of the year, taking into account expected changes in the
obligation or plan assets during the year. Remeasurements of the defined benefit liability and asset, comprising
actuarial gains and losses are recognized within other comprehensive income in the period in which they occur.
Other movements are recognized in the current period, including current service cost, any past service cost
and the effect of any curtailments or settlements. Past service costs, resulting from amendment to a plan are
recognized immediately when the Group becomes committed to a change.