Optional ESEF postponement by one year
In December 2020, the European Parliament and Council approved the amendment of Directive 2004/109/EC (Transparency Directive). This means that the obligation for listed companies to prepare and publish their annual reports in accordance with the European Single Electronic Format (ESEF) can be postponed by one year.
The postponement is an opportunity to provide member states with more flexibility in the CoVid 19 pandemic. In doing so, Member States must inform the European Commission with their duly justified intention. Furthermore, issuers may choose to publish annual financial reports in ESEF in 2021. If they choose to do so, all requirements of the Transparency Directive must be met. Germany is one of the countries that decided against a postponement.
Thus, the annual financial reports in the following countries will have to comply with the ESEF requirements only on 01 January 2022: