As required by IAS 1, the information on 2019 contained in this consolidated annual report is presented for solely comparative purposes with the information on 2020 and consequently does not in itself constitute the Group’s consolidated financial statements for 2019.
In March 2020, the IFRS Interpretations Committee decided on the presentation of the effects on restatement for hyperinflation and the translation into “Other Comprehensive Income” on a net basis where the entity considers that the combination of the two effects meet the definition of exchange rate differences in IAS 21. If this is not the case, the effect of hyperinflation (IAS 29) in equity and the effect of conversion differences (IAS 21) in “Other Comprehensive Income” will be recognised separately. It is not allowable to present both variables net in equity (an aspect that until now was accepted by the CNMV and ESMA). Following this approval, the Group has reclassified the net effect of the restatement due to hyperinflation and the translation into “Other Comprehensive Income”, this reclassification has resulted in greater equity and a greater conversion differences value of 77,711 thousand euros at 31 December 2018 and 1,151 thousand euros in 2019. This restatement has had no impact on the Group’s Equity.