Catom Annual Report 2023 EN

The share of the company in the result of the participating interests is recognised in the profit and loss account.

If the net asset value of the participating interest is negative, it is valued at zero. Other long-term interests in the participating interest that effectively constitute part of the net investment are taken into account for this purpose. If and insofar as the company guarantees the repayment of all or part of the debts of the participating interests, or if it has a constructive obligation to enable the participating interest to repay its debts, a provision is recognised accordingly.

A subsequently acquired share in the profit of the participating interest is only recognised if and insofar as the accumulated non-recognised share in the loss has been made good.

2.6.2. Loans issued and other receivables Upon initial recognition, receivables included under other financial fixed assets are stated at their fair value (usually nominal value) less any provisions deemed necessary. Subsequently, these receivables are stated at amortised cost. The interest rate derivatives recognised under the other receivables will be measured at fair value with effect from financial year 2023.

2.7. Stock The stock consists of fuels (finished product) and other products (goods for resale).

The stock is valued at acquisition prices applying the first-in, first-out (FIFO) method or lower net realizable value. This lower net realizable value is determined by individual assessment of the inventories. Stocks of trade goods are valued individually at acquisition price or lower net realizable value. The net realisable value is the estimated selling price less directly attributable selling expenses. In determining the net realisable value, any obsolescence of the stocks is taken into account. 2.8. Receivables Current receivables are stated at fair value upon their initial recognition and subsequently at amortised cost less any provisions deemed necessary. These provisions are determined through individual assessment of the receivables.

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