Artículo 13.12. PS 1 Paragraph 13.12

Material information about factors that have affected the entity’s financial performance or financial position in the reporting period or could affect them in the future, including in the long term (see paragraph 13.5(a) ), could include: (a) an overview of the entity’s financial performance and financial position in the reporting period. (b) a description of the key aspects of the entity’s financial performance and financial position in the reporting period. (c) metrics of the entity’s financial performance and financial position in the reporting period. (d) an explanation of changes in the amounts of those metrics from previous periods, quantifying the effects of each contributing factor. The explanation could cover: (i) the drivers of revenue—for example, identifying regions or product categories affected by various drivers or explaining how revenue is affected by price, volume and product mix; (ii) the drivers of costs—for example, costs incurred to enhance features of the entity’s business model, or the split of operating costs between fixed and variable costs; (iii) the drivers of cash flows—for example, how changes in customer payment terms or use of supply chain financing affected the entity’s cash flows in the reporting period; and (iv) an analysis of changes in non-controlling interests held by other parties in the entity’s subsidiaries. (e) an explanation of how matters discussed in other areas of content in management commentary have affected the entity’s financial performance or financial position in the reporting period—for example, how progress in implementing management’s strategy has affected the entity’s revenue, operating expenses and cash flows from operating activities. (f) information about the entity’s ability to meet its obligations, including in the long term. The information could include: (i) an analysis of the entity’s liquidity and solvency metrics, explaining variances from previous periods; (ii) an analysis of the effects of actions that management has taken to manage the entity’s liquidity or solvency; (iii) an analysis of the entity’s capital structure and financing arrangements; (iv) information about the entity’s compliance or non-compliance with financing covenants; and (v) an analysis of how the entity’s working capital requirements during the reporting period differed from those at the end of the reporting period, or how they are expected to differ in the future. (g) an explanation of other known or reasonably expected future changes that could affect the entity’s financial performance or financial position in the future, including in the long term, even if the effect has been insignificant in the reporting period—for example, known or expected changes in tax rates or laws that could affect the relationship between the entity’s tax expense and profit or loss. (h) information to help users assess the extent to which the entity’s financial performance and financial position in the reporting period are indicative of the entity’s ability to create value and generate cash flows in the future, including in the long term. The information could include information about: (i) unusual income and expenses, and how they could affect the entity’s future cash flows; (ii) changes in drivers of financial performance—or in the implications of drivers of financial performance—that could affect the entity’s financial performance in the future, including in the long term; and (iii) changes in the entity’s operations, structure or scale that have affected financial performance in the reporting period or could affect it in the future—for example, changes resulting from the acquisition or disposal of businesses. (i) an explanation of developments since the end of the reporting period that could affect the entity’s financial performance or financial position in the future, for example: (i) an unexpected event; or (ii) a change in a leading indicator—such as an order book—used by management as an indicator of future performance.