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"value": "Note 1 SubsidiariesLINK Mobility Group Holding ASA owns 100% of LINK Mobility Group AS, which in turn owns 100% the LINK subsidiaries. The Group\u2019s subsidiaries as at December 31, 2024 are listed below. Date of Place of business / Ownership Name of entityacquisitioncountry of registrationinterestLINK Mobility Group AS 10/9/2018 Oslo, Norway 100 %LINK Mobility AS 10/9/2018 Oslo, Norway 100 %LINK Mobility USA AS 5/27/2021 Oslo, Norway 100 %Tismi AS 7/1/2021 Oslo, Norway 100 %BK Invest Alpha GmbH 11/16/2020 Vienna, Austria 100 %LINK Mobility Austria GmbH 11/16/2020 Graz, Austria 100 %Simple SMS GmbH 10/9/2018 Wels, Austria 100 %Allterpay EOOD 7/29/2019 Sofia, Bulgaria 100 %LINK Mobility Bulgaria EAD 7/29/2019 Sofia, Bulgaria 100 %Atenea Mobile SAS 9/24/2024 Medellin, Columbia 100 %Kronos Mobile SAS 9/24/2024 Medellin, Columbia 100 %LINK Mobility Holding Aps 3/11/2020 Copenhagen, Denmark 100 %LINK Mobility A/S 10/9/2018 Copenhagen, Denmark 100 %Tismi A/S 10/9/2018 Copenhagen, Denmark 100 %LINK Mobility Oy 10/9/2018 Tampere, Finland 100 %Labyrintti International Oy 10/9/2018 Tampere, Finland 100 %LINK Mobility SAS 10/9/2018 Paris, France 100 %LINK Mobility Holding SAS 11/2/2023 Paris, France 100 %LINK Mobility GmbH 10/9/2018 Hamburg, Germany 100 %GfMB Gesellschaft f\u00fcr Mobiles Bezahlen 10/9/2018 Hamburg, Germany 100 %LINK Mobility Hungary Kft. 12/18/2018 Budapest, Hungary 100 %LINK Mobility Italia Srl 10/9/2018 Milan, Italy 100 %Pandora Mobile Group S de R.L. de C.V. 9/24/2024 Mexico City, Mexico 100 %Tismi B.V. 3/10/2021 Bunnik, Netherlands 100 %Tismi Mobile B.V. 3/10/2021 Bunnik, Netherlands 100 %LINK Mobility Sp.z.o.o 10/9/2018 Gliwice, Poland 100 %Curiosity Layer - Investigacao e Comunicacao, 5/29/2024 Porto, Portugal 100 %Unipessoal, LDAKumanovo, Republic of LINK Mobility Development Center DOOEL\u00b9 6/7/2021100 %North MacedoniaSkopje, Republic of North Tera Communications DOOEL 7/29/2019100 %MacedoniaLINK Mobility SRL 10/2/2017 Bucharest, Romania 100 %Teracomm RO SRL 7/29/2019 Bucharest, Romania 100 %LINK Mobility Spain S.L.U. 10/9/2018 Madrid, Spain 100 %Net Real Solutions S.L. 9/24/2024 Castellon, Spain 100 %LINK Mobility AB 10/9/2018 Stockholm, Sweden 100 %LINK Messaging AG 10/9/2018 Rorschach, Switzerland 100 %HSL Messaging Limited 11/14/2018 Edinburgh, Scotland 100 %LINK Mobility UK Limited 12/14/2018 London, United Kingdom 100 %Reach-Data Ltd. 10/30/2024Doncaster, United Kingdom 100 %\u00b9 Formerly Razvoen Centar na eMailPlatform DOOEL.Note 2 Adoption of new and revised International Financial Reporting Standards (IFRS) A number of amended IFRS standards issued by the International Accounting Standards Board (IASB) and IFRS interpretations issued by the IFRS Interpretations Committee (IFRS IC) are effective for accounting periods commencing on or after January 01, 2024. The requirements arising from revised IFRSs or IFRIC interpretations are embedded in the recognition, measurement and disclosures relevant to the consolidated financial statements of the Group from the date of establishment. The accounting policies adopted are described in Note 3 Summary of significant accounting policies.Standards and interpretations affecting amounts reported in thecurrent periodThe accounting policies adopted, and methods of computation followed are consistent with those of the previous financial year, except for items disclosed below. The adoption of the following standards and interpretations has not had any material impact on the disclosures or on the amounts reported in these financial statements:\u2022 Amendment to IFRS 7 regarding classification and measurement of financial instrumentsAs at the date of authorisation of these financial statements, Standards and Interpretations had been issued by the IASB but were not effective for the financial year ended December 31, 2024. At the date of these financial statements, it is not foreseable that these changes will not have a material impact on the financial reporting for the Group.New or amended standards that have effective date on January 01, 2026 or later have not been assessed if these will have any impact on Link Mobility Groups financial statements in the period of initial application. Management will continue to follow the development of changes to Standards and Interpretations issued by the IASB throughout 2025.Note 3 Summary of significant accounting policies3.1 General informationLINK Mobility Group Holding ASA is the parent company of LINK Mobility Group AS, and is headhquartered in Oslo, Norway. LINK is Europe\u2019s leading provider of mobile and CPaaS solutions specializing in messaging, digital services, and intelligent data usage.LINK Mobility Group Holding ASA (\u201cthe Company\u201d) is a limited liability company incorporated and domiciled in Norway. The address of the registered office is Gullhaug Torg 5, 0484 Oslo, Norway. LINK Mobility Group Holding ASA is the parent company of the LINK Mobility Group AS. LINK Mobility Group AS provides services in mobile communication and specialises in mobile messaging services, mobile solutions, and mobile intelligence. LINK Mobility Group Holding ASA and its subsidiaries are regarded as \u201cthe Group\u201d.These financial statements were approved for issue by the Board of Directors on date April 28, 2025. Minor rounding differences may be present, and the total may deviate from the total of the individual amounts. This is due to the rounding of whole figures to thousands for presentation purposes.3.2 Basis for preparationThe financial statements of the Group and the Company have been prepared in accordance with IFRS\u00ae Accounting Standards as adopted by the EU and the Norwegian Accounting Act. The financial statements have been prepared on the historical cost basis. The preparation of financial statements in conformity with IFRSs requires the use of certain critical accounting estimates. It also requires management to exercise its judgments in applying the Group\u2019s accounting policies. Areas involving a high degree of judgment or complexity, and areas in which assumptions and estimates are significant to the financial statements are disclosed in Note 4 Critical accounting judgements and key sources of estimation variances. The financial statements have been prepared on a going-concern basis.The presentation currency of the financial statement is Norwegian kroner (NOK). Amounts are rounded to nearest thousand, unless otherwise stated.3.3 Business combinationsBusiness combinations are accounted for using the acquisition method. The consideration transferred and all the identifiable assets and liabilities of acquired entities are, with limited exceptions measured at fair values at the date of acquisition. Acquisition-related costs are recognised in the income statement as incurred.Goodwill arising from an acquisition is recognised as an asset measured as the excess of the sum of the consideration transferred, the fair value of any previous held equity interest and the amount of any non-controlling interest in the investee over the net amounts of the identifiable assets acquired and the liabilities assumed. If, after reassessment, the Group\u2019s interest in the net fair value of the investee\u2019s identifiable assets, liabilities and contingent liabilities exceeds the total consideration of the business combination, the excess is immediately recognised in the income statement. Goodwill is allocated to each of the Group\u2019s cash-generating units (or groups of cash generating units) that is expected to benefit from the synergies of the combination. A cash-generating unit is the smallest identifiable group of assets that generate cash inflows that are largely independent of the cash inflows from other assets or group of assets. If the recoverable amount of the cash-generating unit is less than its carrying amount, the impairment loss is allocated first to reduce the carrying amount of each asset in the unit. Any impairment loss for goodwill is recognised directly in profit or loss. An impairment loss recognised for goodwill is not reversed in subsequent periods.When the consideration transferred by the Company in a business combination includes contingent consideration arrangements, the contingent consideration is measured at its acquisition date fair value and included as part of the consideration transferred in a business combination. Changes in fair value of the contingent consideration that qualify as measurement period adjustments are adjusted retrospectively, with corresponding adjustments recognised in goodwill. Measurement period adjustments arise from additional information obtained during the \u2018measurement period\u2019 (which cannot exceed one year from the acquisition date) about facts and circumstances that existed at the acquisition date. The subsequent accounting for changes in the fair value of the contingent consideration that do not qualify as measurement period adjustments depends on how the contingent consideration is classified. Contingent consideration that is classified as equity is not remeasured at subsequent reporting dates and its subsequent settlement is accounted for within equity. Other contingent consideration is remeasured to fair value at subsequent reporting dates with changes in fair value recognised in profit or loss.If the initial accounting for a business combination is incomplete by the end of the reporting period in which the combination occurs, the Group reports provisional amounts for the items for which the accounting is incomplete. Those provisional amounts are adjusted during the measurement period (see above), or additional assets or liabilities are recognised, to reflect new information obtained about facts and circumstances that existed as of the acquisition date that, if known, would have affected the amounts recognised as of that date.3.4 Current/non-current classi\ue7bccationAn asset is classified as current when it is expected to be realised, or is intended for sale or consumption, in the Group\u2019s normal operating cycle, it is expected/due to be realised or settled within next twelve month after the reporting date. The normal operating cycle for trade receivables is between 30 - 45 days. Other assets are classified as non-current. A liability is classified as current when it is expected to be settled in the Group\u2019s normal operating cycle, the liability is due to be settled within twelve months after the reporting period or if the Group does not have an unconditional right to defer settlement of the liability for at least twelve months after the reporting period. The normal operating cycle for trade payables is between 30 - 45 days. All other liabilities are classified as non-current.3.5 Revenue recognitionRevenues are recognised when services are rendered and measured based on the consideration to which the Group expects to be entitled in a contract with a customer net of discounts and sales related taxes. The Group recognises revenue when it transfers control of a product or service to a customer.When another party is involved in providing goods or services to a customer, the Group evaluates whether it has an obligation to provide the specified service itself (i.e. the Group is the principle) or to arrange for those services to be provided by the other party (i.e. the Group is the agent). Where the Group does not control the service, the Group is considered an agent in the transaction. Revenues primarily comprise sale of services that enable customers to communicate by mobile phone with their customers. To be able to render these services, the Group needs to obtain services from one or more telecommunication operators. Cost incurred that are directly related to fulfilling a specified contract with a customer are regarded as a contract fulfilment cost and are expensed in the period in which the related revenue is recognised.The services rendered are split into the following groups:Type of service Timing of recognition Measurement of revenueMobile messaging The Group provides mobile messaging services The revenue is based on the price transactionsvia SMS and other messaging channels such specified in the sales contract, net as Apps, Facebook, Messenger, WhatsApp and of discounts and value added tax.email. Revenue from messaging is recognised when the message service has been provided; when the messages are delivered to the recipient.Payment services The Group offers payment solutions where The Group acts as an agent the customer can get their customers (the end for this type of service and users) to pay for services by charging their the performance obligation mobile phone account or credit/debit card. As is to arrange for the provision payment for these services, the Group is entitled of services by another party. to remuneration related to the processed Consequently, only the income transactions/payment. Revenue is recognised from the processed transactions is when the payment service is rendered.recognised as revenue.Licences License revenue consists of revenue from The revenue is based on the price monthly fees paid by customers for access to specified in the sales contract, net Group platforms and solutions. No proprietary of discounts and value added tax.rights are transferred to the customer. The revenue is recognised throughout the duration of the license agreement.Consulting services Revenue from consulting services is recognised The revenue is based on the price in the accounting period during which the specified in the sales contract, net services are rendered.of discounts and value added tax.3.6 Foreign currency translationThe consolidated financial statements are presented in NOK, which is the functional currency of LINK Mobility Group Holding ASA. In preparing the financial statements of the individual companies, transactions in currencies other than NOK are recognised at the rate of exchange on the date of the transaction. At each reporting date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the balance sheet date. Non-monetary items carried at fair value in foreign currencies are translated using the exchange rate at the date when the fair value was measured. Non-monetary items that are measured in terms of historical cost in a foreign currency are not retranslated after the transaction date.Foreign exchange gains and losses that relate to borrowings and cash and cash equivalents are presented in the income statement as financial items. All other foreign exchange gains and losses are presented on a net basis in the income statement as other operating expenses. Exchange differences are recognised in the income statement in the period in which they arise.For the purposes of presenting consolidated financial statements, the assets and liabilities of the Group\u2019s foreign operations are translated to NOK at exchange rates on the reporting date. Income and expense items are translated to NOK at the average exchange rates for the period, unless exchange rates fluctuate significantly during that period, in which case the exchange rates at the date of transactions are used. Exchange differences arising, if any, are recognised in other comprehensive income and accumulated in a separate component of equity.Goodwill and fair value adjustments arising from the acquisition of a foreign entity are considered as assets and liabilities of the foreign entity and translated at the closing rate. These exchange differences are recognised in other comprehensive income.On the disposal of a foreign operation (i.e. a disposal of the Group\u2019s entire interest in a foreign operation), or a disposal involving loss of control over a subsidiary that includes a foreign operation, all of the exchange differences accumulated in a separate component of equity in respect of that operation attributable to the owners of the foreign operation are reclassified to the income statement. In addition, in relation to a partial disposal of a subsidiary that includes a foreign operation that does not result in the Group losing control over the subsidiary, the proportionate share of accumulated exchange differences is re-attributed to non-controlling interests and are not recognised in profit or loss.Please refer to note 21 for an overview of other functional currencies at the subsidiary level.3.7 Equipment and \ue7bcxturesEquipment and fixtures are initially recognised at cost, which includes the purchase price (including duties and non-refundable purchase taxes) and any directly attributable costs of bringing the asset to the location and condition necessary for it to be able to operate in the intended manner. Equipment and fixtures are subsequently recognised at cost less accumulated depreciation and accumulated impairment losses, if any. Depreciation is recognised using the straight-line method to reduce the cost of assets less their residual values over their useful lives. Depreciation commences when the assets are ready for their intended use.Estimated useful life, depreciation method and residual values are reviewed at least annually. The straight-line depreciation method is used as this best reflects the consumption of the assets, which often is the passage of time. Residual value is estimated to be zero for all assets. Repair and maintenance are expensed as incurred. If new parts are capitalised, replaced parts are derecognised and any remaining net carrying amount is recognised in operating profit (loss) as loss on disposal.An item of property, plant and equipment is derecognised upon disposal or when no future economic benefits are expected to arise from the continued use of the asset. The gain or loss arising on the disposal or retirement of an item of equipment and fixtures is determined as the difference between the sales proceeds and the carrying amount of the asset and is presented as other income or other expenses in the income statement.3.8 Impairment of non-\ue7bcnancial assetsAt each reporting date, the Group reviews if there are any indicators that the carrying amounts of its tangible and intangible assets may be impaired. If any such indication exists, the recoverable amount of the asset is estimated to determine the extent of the impairment loss (if any). Where the asset does not generate cash flows that are independent from other assets, the Group estimates the recoverable amount of the cash-generating unit to which the asset belongs. When a reasonable and consistent basis of allocation can be identified, corporate assets are also allocated to individual cash-generating units, or otherwise they are allocated to the smallest group of cash-generating units for which a reasonable and consistent allocation basis can be identified.Goodwill and intangible assets with an indefinite useful life are tested for impairment at least annually and whenever there is an indication that the asset may be impaired.Recoverable amount is the higher of fair value less costs of disposal and value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset for which the estimates of future cash flows have not been adjusted.If the recoverable amount of an asset (or cash-generating unit) is estimated to be less than its carrying amount, the carrying amount of the asset (or cash-generating unit) is reduced to its recoverable amount. An impairment loss is recognised immediately in the income statement.Where an impairment loss subsequently reverses, the carrying amount of the asset (or cash-generating unit) is increased to the revised estimate of its recoverable amount, but so that the increased carrying amount does not exceed the carrying amount that would have been determined had no impairment loss been recognised for the asset (or cash-generating unit) in prior years. A reversal of an impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the reversal of the impairment loss is treated as a revaluation increase. Any impairment loss recognised for goodwill is not reversed in a subsequent period.3.9 LeasesAt the inception of a contract, the company assesses whether the contract is, or contains, a lease. A contract is, or contains, a lease if the contract conveys the right to control the use of an identified asset for a period of time in exchange for consideration. The lease liability is recognized at the commencement date and measured at the present value of the remaining lease payments, discounted using the company\u2019s incremental borrowing rate at the commencement date. The lessee\u2019s incremental borrowing rate is the rate of interest that a lessee would have to pay to borrow over a similar term, and with similar security, the funds necessary to obtain an asset of a similar value of the right-of-use asset in a similar economic environment. The Group has chosen to measure the Right-of-Use asset (RoU assets) at an amount equal to the lease liability for all leases by using the lessee\u2019s incremental borrowing rate; the rate may differ from country to country. RoU assets are depreciated over the lease term as this is ordinarily shorter than the useful life of the assets. The lease term represents the non-cancellable period of the lease, together with periods covered by an option either to extend or to terminate the lease when the company is reasonably certain to exercise this option. The Group applies the exemption for short term leases (12 months or less) and low value leases. As such, related lease payments are not recognized in the balance sheet but expensed or capitalized in line with the accounting treatment for other non-lease expenses. The inclusion of non-lease components may vary across different lease categories.3.10 Financial InstrumentsFinancial assets and financial liabilities are initially measured at fair value. Transaction costs that are directly attributable to the acquisition or issue of financial assets and financial liabilities (other than financial assets and financial liabilities at fair value through profit or loss) are added to or deducted from the fair value of the financial assets or financial liabilities, as appropriate, on initial recognition. The Group has classified the financial instruments into the following categories of financial assets and liabilities: Financial assets and liabilities at fair value through profit and loss (FVTPL), financial assets at amortised cost (FAAC), financial assets at fair value through other comprehensive income (FVTOCI) and Financial liability at cost (FLAC). Currently the Group does not have any assets in the classification of FVTOCI. The categorisation of financial instruments (financial assets and liabilities) for measurement purposes is based on the nature and purpose of the financial instrument and is determined on initial recognition. The Group presents financial assets and liabilities in the following classes: trade and other receivables (FAAC), cash and cash equivalents, trade and other payables (FLAC), and borrowings (FLAC). Trade receivables and other current and non-current financial assetsThe financial assets held by the Group, primarily trade and other receivables, are held within a business model whose objective is to hold financial assets in order to collect contractual cash flows and are thus measured subsequently at amortised cost less loss allowances. The impairment model in IFRS 9 Financial Instruments requires the recognition of impairment provisions based on expected credit losses (ECL). The Group recognises an allowance for expected credit losses on trade receivables. The amount of expected credit losses is updated at each reporting date to reflect changes in credit risk since initial recognition. The impairment is calculated by taking into account the historic evidence of the level of credit losses experienced and the ageing profile of the trade receivables. Individual trade receivables are impaired when management assesses them not to be wholly or partially collectible. Cash and cash equivalentsCash and cash equivalents include cash, bank deposits and commercial papers with original maturities of three months or less. Financial liabilitiesTrade and other payables include trade payables and other current and non-current, non-interest-bearing financial liabilities. Borrowings (non-current and current) include bank loans and overdrafts. These liabilities are initially recognised in the statement of financial position at fair value (net of any transaction costs), and subsequently measured at amortised cost using the effective interest rate method.The effective interest method calculates the amortised cost of a financial liability and the allocation of interest expense over the relevant period. The effective interest rate is the rate that discounts estimated future cash payments, including all fees and points paid or received that form an integral part of the effective interest rate, transaction costs and other premiums or discounts, through the expected life of the financial liability, or (where appropriate) a shorter period, to the amortised cost of a financial liability.The Group derecognises financial liabilities when, and only when, the Group\u2019s obligations are discharged, cancelled, or have expired. The difference between the carrying amount of the financial liability derecognised, and the consideration paid and payable is recognised in profit or loss.3.11 Cash \ue7bdowThe Group presents the statement of cash flows using the indirect method. Cash inflows and outflows are shown separately for investing and financing activities, while operating activities include both cash and non-cash line items. Interest received and paid, and dividends received, are reported as a part of operating activities. Dividends distributed are included as a part of financing activities. Value Added Tax and other similar taxes are regarded as collection of tax on behalf of authorities.3.12 Employee bene\ue7bctsThe Group operates a defined contribution plan (DCP) for post-retirement benefits. A defined contribution plan is a pension plan under which the Group pays fixed contributions to a separate entity (insurance company). The Group has no legal or constructive obligations to pay further contributions to the pension plan for benefits relating to employee service in the current and prior periods. Payments to defined contribution retirement benefit plans are recognised as an expense when employees have rendered service entitling them to the contributions. Prepaid contributions are recognised as an asset to the extent that a cash refund or a reduction in the future payments is available.3.13 Taxation Income tax in the income statement includes both taxes payable for the period and the change in deferred taxes. The change in deferred taxes reflects future taxes payable resulting from the year\u2019s activities. Deferred taxes are determined based on the accumulated result, which falls due for payment in future periods. Deferred taxes are calculated on net positive timing differences between accounting and tax balance sheet values, after offsetting negative timing differences and losses carried forward under the liability method. A deferred tax asset is recognized only to the extent that it is probable that future taxable profits will be available against which the asset can be utilised. Deferred tax assets are reduced to the extent that it is no longer probable that the related tax benefit will be realized.Deferred tax assets and liabilitiesDeferred tax assets and liabilities are presented net of their respective tax effect using tax rate of the applicable jurisdiction applied to amounts representing future tax deductions or taxes payable.Negative and positive timing differences, which reverse or may reverse in the same period, are offset. Deferred taxes are calculated on the basis of timing differences and losses carried forward that are offset. Timing differences between different subsidiaries have not been offset. During the period that these differences reverse, the companies will have a taxable net income that is sufficient to realize the deferred tax allowance. The losses carried forward are all in countries where future taxable profits are expected.Note 4 Critical accounting judgements and key sources of estimation variancesIn the application of the Group\u2019s accounting policies, as described in note 3 (summary of significant accounting policies), management is required to make judgements, estimates and assumptions that affect the reported amounts of assets and liabilities, income and expenses. Estimates and judgements are evaluated on an ongoing basis and are based on historical experience and other factors, including expectations of future events that are considered to be relevant. Future events may cause these estimates to change and actual results may differ from these estimates. Estimates and underlying assumptions are reviewed on an ongoing basis. Changes in accounting estimates are recognised in the period when the changes occurred, if they apply to that period. If the changes also apply to future periods, the effect will be distributed between the current period and future periods.Estimated impairment of goodwill and other intangible assetsThe carrying amounts of non-current tangible and intangible assets are assessed by means of impairment tests whenever there is an indication of impairment. Any impairment of goodwill is assessed at least annually. The recoverable amounts of cash-generating units have been determined based on value-in-use calculations. These calculations require management to estimate the future cash flows expected to arise from the cash-generating unit and a suitable discount rate in order to calculate present value. Please refer to notes 3 (summary of significant accounting policies) and 13 (intangible assets) for further details related to the impairment testing methodology and results.Note 5 Discontinued operationsOperations presented as discontinued operations include Message Broadcast LLC. LINK signed a sales and purchase agreement (SPA) on November 07, 2023; the divestment of Message Broadcast LLC (US subsidiary) was closed on January 03, 2024.Discontinued operationsDiscontinued operations represent a separate major line of business that has been disposed. Discontinued operations are excluded from the results of continuing operations and are presented as a single line, after tax, in the consolidated statement of profit and loss. Discontinued operations are also excluded from segment reporting (note 6); it was previously included as it\u2019s own segment (North America). The profit (loss) of the disposed entity is presented as discontinued operations until disposal, and subsequent adjustments are presented in the following table:Statement of profit and loss from discontinued operations:(Amounts in NOK 1 000) 2024 2023Total revenue - 398,683 Gross profit - 317, 354 Payroll and related expenses - -91,684 Other operating expenses - -72,978 Depreciation and amortization - -24,857 Operating profit (loss) - 127,835 Finance income (expense) - -49,576 Profit (loss) before income tax - 78,259 Income tax - 162 Profit (loss) from Message Broadcast LLC - 78,096 The figures presented above are only representative of the US subsidiary. As a result of the disposal, related expenses are also classified in the discontinued operations line item in the consolidated income statement.(Amounts in NOK 1 000) 2024 2023Profit (loss) from Message Broadcast LLC - 78,096 Currency option premium - -12,573 Legal fees - -5,904 Excess value amortization, management fee, and intercompany loan interest - -55,923 Profit (loss) from discontinued operations before income tax - 3,697 Income tax 25,229 Income tax expense related to disposal -60,706 - Gain on disposal 144,731 - Profit (loss) from discontinued operations 84,025 28,926 The currency option premium is representative of costs incurred to secure a EUR call option (EUR/USD).The accumulated amounts for discontinued operations recognized in other comprehensive income (OCI) within equity are as follows:(Amounts in NOK 1 000) 2024 2022Accumulated currency translation effects - -104,650 Accumulated currency translation effects related to equity and excess values have flowed through the profit and loss in Q1 2024.The divestment of Message Broadcast LLC (US subsidiary) was closed on January 03, 2024. The amount of the transaction is USD 260 million, including a seller note of USD 10 million and an earn-out component of up to USD 30 million. The earnout is linear from USD 7.5 million, increasing with revenue growth to match historic Message Broadcast LLC performance for full payout. (Amounts in NOK 1 000) 2024Consideration received or receivable Cash* 2,223,629 Fair value of contingent consideration 387,549 Total disposal consideration 2,611,178 Carrying amount of net assets sold 2,534,684 Gain on sale before income tax and reclassification of foreign currency 76,493 translation reserve Reclassification of foreign currency translation reserve 197,071 Income tax expense on gain -60,706 Gain on sale after income tax 212,859 Fair value adjustment of contingent consideration, December 31 -128,834 Gain on sale as of December 31 84,025 * The amount presented here is representative of the cash amount received upon close of the SPA.If operations of the discontinued operation achieve certain performance criteria during the period January 01, 2024 to December 31, 2024, as specified in an earn-out clause in the SPA, additional cash consideration of up to USD 30 million will be receivable. The earn-out will be recognized as a financial asset at fair value through the profit or loss.At the beginning of the year, an earn-out accrual for USD 27 million was made based on estimated performance for FY2024. Based on actual performance in Message Broadcast at the end of FY2024, the estimated earn-out has been revised to USD 14.7 million. The reduction is presented in the table above as fair value adjustment of contingent consideration.The carrying amounts of assets and liabilities as at the date of sale (January 03, 2024) were:(Amounts in NOK 1 000) 2024 Goodwill 1,689,345 Other intangible assets 867,678 Total current assets held as available for sale* 2,557,023 * The amounts presented are held in LINK Mobility Group Holding ASA as excess values. Other amounts held in the US subsidiary are included in the total amount presented as current assets held as available for sale in the consolidated statement of financial position.Note 6 Business combinationsAcquisitions during the periodProportion of Main business Date of business voting equity Acquiring 2024activitycombinationacquiredentityCuriosity Layer \u2013 Investiga\u00e7\u00e3o Provider of mobile LINK e Comunica\u00e7\u00e3o Lda. (hereafter messaging services May 28, 2024 100%Mobility EZ4U)and mobile solutionsSpain SLUProvider of mobile LINK Net Real Solutions S.L. messaging services September 24, 2024 100%Mobility (hereafter NRS)and mobile solutionsSpain SLUProvider of mobile LINK Reach-Data Ltd.messaging services October 30, 2024 100%Mobility UK (hereafter Reach)and mobile solutionsLimitedAcquisition of EZ4UOn May 28, 2024, LINK Mobility Spain SLU acquired the Portuguese company EZ4U. The acquisition expands LINK\u2019s geographical reach in Europe to Portugal and offers numerous upselling opportunities through superior local customer success services in Portuguese.The purchase price is cash upon closing and includes and earn-out of up to EUR 2 million.EZ4U was founded in 2010 and is headquartered in Porto. The company is dedicated to enterprise messaging with focus on SMS, RCS, WhatsApp, email, IVR and chatbots. EZ4U\u2019s software platform and APIs facilitate seamless communications between businesses and customers, serving more than 500 clients across such diverse sectors as healthcare, transportation and retail.Acquisition of NRSOn September 24, 2024, LINK Mobility Spain SLU acquired NRS, headquartered in Catellon, Spain. This acquisition expands LINK\u2019s geographical reach in Europe and unlocks opportunities in Latin America, where NRS has a significant market share.The purchase price is cash upon closing and includes an earn-out of up to EUR 1 million.NRS, founded in 2001, specializes in SMS marketing, email marketing, and voice services, catering to sectors such as finance, retail, technology, and services among others. Last year, NRS sent over 2 billion SMS messages globally. In addition to offering operational and automated multi-channel communications, the company advises B2C, B2B companies, and startups on designing marketing and omnichannel communication strategies.Acquisition of ReachOn October 30, 2024, LINK Mobility UK Limited acquired Reach, headquartered in Doncaster, United Kingdom. This acquisition strengthens LINK\u2019s foothold in the UK market.The purchase price is cash upon closing.Reach was founded in 2002 and provides businesses with direct global communication routes. The company has specialized in cost-effective SMS marketing solutions by leveraging their user-friendly, bulk SMS messaging, platform.Revenue and net profit, in the period from the date of acquisition until December 31, 2024:(Amounts in NOK 1 000) EZ4U NRS ReachRevenue 14,935 34,983 15,659 EBITDA 4,799 5,563 712 Net profit 4,850 2,778 684 Estimated revenue and net profit, as if the acquisition had occurred January 01, 2024:(Amounts in NOK 1 000) EZ4U NRS ReachRevenue 23,400 123,878 87,377 EBITDA 6,678 15,547 7,446 If the acquisition had occurred on January 01, 2024, consolidated pro-forma revenue and EBITDA for the year ended December 31, 2024 would have been NOK 7 162 576 thousand and NOK 736 369 thousand, respectively. These amounts have been calculated using the subsidiary\u2019s results and adjusting them for: - differences in the accounting policies between the group and subsidiary - effects of updated business plans, including synergies - any errors identified in prior periods Proforma net profit is not provided in the table above and as if the acquisition had occurred on January 01, 2024. The difference between EBIDTA and net profit is not deemed to be material.Consideration transferred(Amounts in NOK 1 000) EZ4U NRS ReachCash 39,459 116,206 57,565 Earn-out \u00b9) 17,111 12,095 - Total consideration 56,570 128,301 57,565 \u00b9 Earn-outThe purchase price of EZ4U includes an earn-out payment (up to EUR 2 million) based on financial performance at the end of FY2024.The purchase price of NRS includes an earn-out payment (up to EUR 1 million) based on financial performance at the end of FY2024.Identi\ue7bcable assets and liabilities recognised on the date of the business combination EZ4UAssets assumed in connection with the business combinations have been recognised at the estimated fair value on the date of the business combination. Management has identified customer relationships as the major asset.NRSAssets assumed in connection with the business combinations have been recognised at the estimated fair value on the date of the business combination. Management has identified customer relationships, technology, and trademark as major assets.ReachAssets assumed in connection with the business combinations have been recognised at the estimated fair value on the date of the business combination. Management has identified customer relationships as the major asset.Note that the estimates are provisional and may be subject to change during the measurement period, which is one year from the date of the acquisition.(Amounts in NOK 1 000) EZ4U NRS ReachCustomer relationships 34,020 13,137 30,493 Technology - 21,666 - Trademark 216 9,931 - Equipment and fixtures 103 1,320 142 Other non-current assets 18 46 Trade and other receivables 1,526 22,585 10,459 Cash and cash equivalents 9,776 9,639 20,384 Deferred tax liability -7,144 -11,598 -6,431 Trade and other payables -2,696 -11,333 -16,968 Fair value of identifiable net assets acquired 35,819 55,393 38,079 Goodwill(Amounts in NOK 1 000) EZ4U NRS ReachConsideration transferred 56,570 128,301 57,565 Fair value of identifiable net assets acquired 35,819 55,393 38,079 Goodwill 20,751 72,908 19,487 Goodwill originating from the business combination is primarily related to anticipated synergies from ongoing operations and the benefit of integrating the entire business into the group. No impairment has been recognised subsequent to the business combination.Goodwill that has arisen as part of the business acquisition is not tax deductible. (Amounts in NOK 1 000) EZ4U NRS ReachIncurred 2024 1,343 6,104 3,393 Total 1,343 6,104 3,393 Identi\ue7bcable assets and liabilities recognised on the date of the business combinationAssets assumed in connection with the business combinations have been recognised at the estimated fair value on the date of the business combination. Management has identified technology and customer relations as major assets.Note that the estimates are provisional and may be subject to change during the measurement period, which is one year from the date of the acquisition.Note 7 Segment reporting(Amounts in NOK 1000)Beginning in the first quarter 2024, the Netherlands as a CGU has been moved from Central to Western Europe following an internal reorganization. All historical segment financials are presented to reflect this change and restated figures for 2023 are presented.The Group reports revenue, gross margin (revenue less direct costs) and adjusted EBITDA in functional operating segments to the Board of Directors (the Group\u2019s chief operating decision makers). While LINK uses all three measures to analyze performance, the Group\u2019s strategy of profitable growth means that adjusted EBITDA is the prevailing measure of performance (refer to alternate performance measures).An examination of operating units based on market maturity and product development as well as geography identifies four natural reporting segments. These are Northern Europe, Western Europe, Central Europe, and Global Messaging; these represent market clusters. Generally, regions are segregated into similar geographic locations as these follow similar market trends. Global Messaging includes all regions with aggregator traffic; the other three have enterprise traffic.The regions are:Northern EuropeNorthern Europe is comprised of Norway, Sweden, Denmark, and Finland.Central Europe is composed of Bulgaria, Romania, North, Macedonia, Poland, Hungary, Germany,and Austria.Western EuropeWestern Europe is composed of Spain (including subsidiaries in Columbia and Mexico), France, the United Kingdom, Italy, Portugal and the Netherlands.Global MessagingGlobal messaging is comprised of non-enterprise traffic and is representative of either stand-alone business or as a component of revenues in countries included above. If a business is comprised of both enterprise and wholesale/aggregator transactions, the latter is segregated here. The Swiss operation Horisen Messaging is included here.Wholesale/aggregator business is defined as an operating unit within LINK\u2019s industry, and that use LINK connections in markets where they do not have such connections themselves. This business can generally be referred to, at least partly, as a direct competitor that use LINK connections. Smaller local aggregators cannot be expected to be covered efficiently by LINK Messaging AG and as such they are still subject to local handling (not a focus area though because they are generally low margin and switch easily).Revenue per segment 2024 2023 Restated 2023Northern Europe 1,535,959 1,489,934 1,489,934 Central Europe 1,689,181 1,369,426 1,461,521 Western Europe 2,105,343 1,842,380 1,750,286 Global Messaging 1,663,324 1,580,386 1,580,386 Total from continuing operations 6,993,807 6,282,126 6,282,126 Total from discontinued operations - 398,683 398,683 Gross profit per segment 2024 2023 Restated 2023Northern Europe 426,743 409,637 409,637 Central Europe 446,637 373,343 412,233 Western Europe 518,732 448,403 409,513 Global Messaging 135,529 116,302 116,302 Total from continuing operations 1,527,641 1,347,685 1,347,685 Total from discontinued operations - 317,354 317,354 Adjusted EBITDA per segment 2024 2023 Restated 2023Northern Europe 271,483 256,367 256,367 Central Europe 309,030 250,595 271,711 Western Europe 269,478 222,469 201,353 Global Messaging 82,298 74,352 74,352 Group Costs -214,320 -190,661 -190,661 Total from continuing operations 717,970 613,121 613,121 Total from discontinued operations - 159,345 159,345 Reconciliation of adjusted EBITDA to Group profit (loss) 2024 2023before income taxAdjusted EBITDA 717,970 613,121 Non-recurring items* -119,312 -135,269 Depreciation and amortization -334,189 -337,535 Operating profit 264,468 140,317 Finance income (expense) -43,370 -89,345 Total from continuing operations 221,098 50,972 Total from discontinued operations - 28,926 *Non-recurring items Non-recurring items is comprised of amounts that relate entirely to the company. Costs related to mergers and acquisitions, personnel cost deemed to be non-recurring (or one-off), restructuring expenses, advisors, and licenses are included in this reconciliation line item (this list is not exhaustive).Disaggregation of revenueThe Group\u2019s operations are conducted through its subsidiaries in the countries listed below. The Group derives its revenue from contracts with customers for the transfer of services as described in the table provided in note 3 to the financial statements. Customers enter contracts with specific LINK entities; these customers are invoiced from the entity that holds the contract.Revenue per business line 2024 2023Mobile messaging transactions 6,708,374 6,010,031 Payment services 22,958 26,224 Licenses 229,026 214,994 Consulting services 33,449 30,877 Group revenue from continuing operations 6,993,807 6,282,126 Group revenue from discontinued operations - 398,683 Northern Europe revenue per business line 2024 2023Mobile messaging transactions 1,390,950 1,345,761 Payment services 18,690 20,367 Licenses 122,509 120,700 Consulting services 3,810 3,105 1,535,959 1,489,934 Central Europe revenue per business line 2024 2023Mobile messaging transactions 1,634,232 1,320,453 Payment services 4,268 5,857 Licenses 34,989 29,326 Consulting services 15,692 13,790 1,689,181 1,369,426 Western Europe revenue per business line 2024 2023Mobile messaging transactions 2,021,642 1,765,269 Payment services - - Licenses 69,753 63,129 Consulting services 13,947 13,982 2,105,343 1,842,380 Global Messaging revenue per business line 2024 2023Mobile messaging transactions 1,661,549 1,578,548 Payment services - - Licenses 1,775 1,839 Consulting services - - 1,663,324 1,580,386 Revenue per geographical region 2024 2023Austria 233,709 216,917 Bulgaria 193,423 159,785 Columbia 5,288 - Denmark 212,241 186,432 Finland 155,993 136,625 France 1,024,579 995,333 Germany 604,640 604,051 Hungary 31,434 24,628 Italy 587,130 514,426 Latvia - - Mexico 126 - The Netherlands 171,040 92,095 North Macedonia 3,125 2,202 Norway 981,542 855,462 Poland 458,974 304,213 Portugal 14,935 - Romania 6,348 5,568 Spain 222,904 153,123 Sweden 370,527 392,530 Switzerland 1,626,304 1,542,474 United Kingdom 89,548 96,262 Total geographical revenue from continuing operations 6,993,807 6,282,126 Total geographical revenue from discontinued operations - 398,683Note 8 Leases(Amounts in NOK 1000)This note provides information for leases where the group is a lessee.Amounts recognised in the balance sheet The balance sheet shows the following amounts related to leases:Right-of-use assetsOther Leased Leased leased vehiclespremisesitems TotalPeriod ended December 31, 2023Opening net book amount 620 46,785 460 47,865 Additions 1,182 14,434 344 15,960 Depreciation charge (1,068) (17,965) (804) (19,836)Closing net book amount 12.31 734 43,254 (0) 43,988 Closing net book amount 12.31 (held as available for sale) - 5,633 222 5,856 Period ended December 31, 2024Opening net book amount 734 43,254 - 43,988 Additions - 7,710 - 7,710 Leases terminated in the period - (9,125) (9,125)Effects from foreign exchange 24 1,754 - 1,779 Depreciation charge (659) (13,769) - (14,428)Closing net book amount 12.31 99 29,825 - 29,924 Estimated useful life, depreciation plan and residual value is as follows:Economic (useful) life 0 - 3 0 - 50 - 3 yearsyearsearsDepreciation plan Linear Linear Linear Lease liabilities Leased Leased Other leased TotalvehiclespremisesitemsPeriod ended December 31, 2023Opening lease liability 1,010 43,713 1,247 45,970 New lease liabilities recognised in the period - 10,993 - 10,993 Leases terminated in the period - (11,289) (1,247) (12,536)Payments for the lease liability (673) (14,061) - (14,734)Effects from foreign exchange 85 1,779 - 1,864 Closing net book amount 12.31 422 31,134 - 31,557 Whereof:Current lease liabilities 11,948 Non-current lease liabilities 19,608 The Group\u2019s leasing activities:The Group leases office space, equipment, and vehicles. Rental contracts are typically made for fixed periods between 1 and 5 years and may include extension options.At the lease commencement date, the Group recognizes a right-of-use asset equal to the measurement of the lease liability less any lease incentives received, and a lease liability measured at the present value of future lease payments. As the interest rate implicit in the lease is not readily determinable, the Group uses its incremental borrowing rate to measure the lease liability.The incremental borrowing rate is determined for each lease using interest rates acquired from external financing sources and adjusted to provide a borrowing rate that is representative of a collateralized amortizing loan.Costs in leasing contracts for offices that relate to the provision of services such as maintenance and utilities are identified and treated separately as non-lease components. These costs are expensed as incurred.For office leases, the Group applies judgement in assessing whether it is likely to exercise to options to extend or terminate a lease. All factors that create an economic incentive to exercise options, such as the market conditions that impact the price, the entity\u2019s demand for office space, contractual incentives and penalties, are considered. The Group assesses each lease on a running basis and recognizes an adjustment when it is reasonably certain to exercise an option.The lease contracts that the Group has for offices are often subject to periodic adjustments based on consumer price indexes. In such cases, the Group remeasures the lease liability with an unchanged discount rate and recognizes the adjustment against the right-of-use asset. The adjustment is recognized when the change in payments is in effect.The Group has elected to exempt leases that have a shorter duration than one year and leases where the value of the underlying asset is below USD 5,000 from the above treatment.Extension and termination options:Extension and termination options are included in certain leased premisis contracts across the Group; lease premisis is the largest lease category.These options are used to maximise operational flexibility in terms of managing the assets used in the Group\u2019s operations. The majority of extension and termination options held are mutually exercisable and are evaluated accordingly.Note 9 Payroll and related expenses (Amounts in NOK 1000)2024 2023Wages and salaries 375,667 366,468 Share-based payment expense 24,691 78,565 Social security tax 111,815 101,374 Pension expense 25,004 22,033 Other benefits 17,874 16,942 Total payroll and related expenses (continuing operations) 555,051 585,383 Total payroll and related expenses (discontinued operations) - 91,684 The number of labor years employed during the financial year: 649 600 The pension plans in the Group comply with the pension legislation enacted in respective countries. The pension plans require that the Group pays premiums to public or private administrative pension plans on a mandatory, contractual or voluntary basis. There are no further obligations once the annual premiums are paid. The premiums are accounted for as personnel expenses as soon as they are incurred. Pre-paid premiums are accounted for as an asset to the extent that future benefits can be determined as plausible. Remuneration of key group employees Key group employees are defined as employees who are part of LINK Group management. In FY2024 and as at December 31, 2024, Group management consisted of the following individuals (amounts in NOK 1000): Pension Other Name and position Employed since Salary BonusexpenseremunerationThomas Berge (CEO) September 2016 4,996 2,577 90 71 Morten L\u00f8ken Edvardsen (CFO) January 2018 2,438 913 90 104 P\u00e5l Marius Brun (CPO) February 2013 2,168 835 90 68 Lin Austb\u00f8 (Chief People and Strategy October 2020 2,296 891 94 54 Officer)Rune Strandli (CTO) April 2023 2,194 613 92 15 Benoit Bole (COO Western Europe) January 2019 2,422 948 592 32 Ina Rasmussen (COO Northern January 2015 2,255 507 93 192 Europe)Riccardo Dragoni (COO Central December 2023 2,032 411 465 160 Europe)Total 20,801 7,695 1,606 696 The CEO has a performance based bonus of up to 6 months salary; the amount of the bonus is determined by the successful completion of key management business objectives that are set by the Board of Directors.The CFO has a performance based bonus of up to 5 months salary. The criteria for this bonus is a combination of quantitative targets determined by the Board of Directors.The remaining key Group employees have a performance based bonus of up to 5 months salary. The bonus is calculated on the basis of achievment of budgeted Group income and EBITDA, and other quantitative criteria that are determined on an annual basis.Share based remunerationThe Company had two programs for share based remuneration for its employees: the Restricted Share Unit (RSU) program and the long-term incentive plan (LTI) option program. Fair value of the RSU\u2019s and LTI\u2019s are calculated at the time of allocation and expensed over the vesting period. The last of the RSU\u2019s vested in 2023.In Q4 2020, the Company issued 3 769 092 RSU\u2019s and 2 000 000 LTI\u2019s to selected employees, including management. Fair value of RSU\u2019s and LTI\u2019s was NOK 46.995 (for all practical purposes equal to the share price) and NOK 20.30 at the grant date, respectively. These are referred to as 2021 LTIP.Grant date for both RSU\u2019s and LTI\u2019s is set at 10.20. 2020. The \u201cstrike price\u201d of RSU\u2019s is NOK 0.005 (equal to the nominal value of the shares) and the strike price of the 2021 LTI\u2019s is NOK 47.00.In Q4 2021, the Company issued 3 000 000 additional options as part of the LTI program. Fair value of the these options were calculated at NOK 8.5 and the strike price of the options was NOK 20.89. These are referred to as 2022 LTIP.In Q2 2023, the Company replaced both previous LTIP programs by rolling over those share options into a new long-term incentive program for management and key employees (the \u201cNew LTIP\u201d program\u201d). This program has a total of 16 million options that can be granted. There are no applicable performance conditions, only a vesting period which is subject to the option holder remaining an employee of LINK. These options will vest over a 3 year period segregated into three tranches (1/3 each year).The exercise price for the first 1/3 of the options to be vested shall be based on the market value of the LINK share at the grant date (calculated based on the 5-day VWAP prior to the grant date) with the second 1/3 of the options to be based on the market value at the grant date with an increase of 12% and with the third 1/3 of the options to be based on the second vesting exercise price with an increase of 12%, implying a strike price for the share options under the New LTIP program of NOK 8.11, NOK 9.08 and NOK 10.17, respectively.A total of 711 000 options remain from previous programs and have exercise prices of NOK 47.00 and NOK 20.89, respectively.An expense of NOK 40 million (including accrued social security tax) related to share options has been recorded in FY2024. The expenses related to the LTI is NOK 22 million (there is no expense related to RSU\u2019s in FY2024). The amount directly related to the social security tax provision is credit of 15 million.In addition to the RSU and LTI programs, all employees may participate in the employee share purchase program (ESPP). Under the terms of the ESPP, all employees were given the opportunity to apply for shares for up to a maximum amount of NOK 100,000; employees receive a 20% discount on these shares. The shares are subject to a lock-up period of 12 months and after a vesting period of two years, employees are entitled to 1 matching (subject to paying the nominal value per share) per 3 shares subscribed if certain conditions are fulfilled. An expense of NOK 1 million related to ESPP shares is recognised in 2024.In 2022, it is resolved that the Chairperson can be granted 2 million share options (\u201cCOB Options\u201d), whereby 1 option gives the right to subscribe for 1 share in the Company. The subscription right is the volume weighted average trading price of the Company\u2019s shares on the Oslo Stock Exchange for the last 10 trading days before the date of the Extraordinary General Meeting. The options shall vest for 24 months from the grant date and may be exercised for 7 years from the date of grant; vesting is subject to the Chairperson having not withdrawn from this position. An expense of NOK 2 million related to COB Options is recognised in 2024.The tables below shows an overview of the outstanding LTI\u2019s and COB Options:Number of Number of unvested Expiration Strike priceoptionsoptions Vesting datedate2021 LTIP 47.00 408,000 - 10/20/2021 10/20/20272022 LTIP 20.89 303,000 - 12/7/2023 12/7/2028New LTIP - Tranche 1 8.11 3,437,659 - 12/7/2023 12/7/2026New LTIP - Tranche 2 9.08 6,450,650 - 12/7/2024 12/7/2026New LTIP - Tranche 3 10.17 4,417,366 4,417, 366 12/7/2025 12/7/2026Sum 15,016,675 4,417,366 2024Number of Average priceoptionsTotal vested LTI\u2019s2021 LTIP 408,000 47.00 2022 LTIP 303,000 20.89 New LTIP - Tranche 1 3,437,659 8.11 New LTIP - Tranche 2 6,450,650 9.08 New LTIP - Tranche 3 - 10.17 Granted unvested options2021 LTIP - 47.00 2022 LTIP - 20.89 New LTIP - Tranche 1 - 8.11 New LTIP - Tranche 2 - 9.08 New LTIP - Tranche 3 4,417,366 10.17 Cancelled LTI\u2019s2021 LTIP 56,000 47.00 2022 LTIP - 20.89 New LTIP - Tranche 1 - 8.11 New LTIP - Tranche 2 569,665 9.08 New LTIP - Tranche 3 1,019,672 10.17 Dropped LTI\u2019s2021 LTIP 35,840 47.00 2022 LTIP - 20.89 New LTIP - Tranche 1 - 8.11 New LTIP - Tranche 2 - 9.08 New LTIP - Tranche 3 - 10.17 Expired LTI\u2019s in the period2021 LTIP - 47.00 2022 LTIP - 20.89 New LTIP - Tranche 1 - 8.11 New LTIP - Tranche 2 - 9.08 New LTIP - Tranche 3 - 10.17 Exercised LTI\u2019s in the period2021 LTIP - 47.00 2022 LTIP - 20.89 New LTIP - Tranche 1 1,147,656 8.11 New LTIP - Tranche 2 476,665 9.08 New LTIP - Tranche 3 476,670 10.17 Total outstanding LTI\u2019s 15,016,675 19.05 2021 LTIPNumber of Number of LTI\u2019s vested at Exercise Name Grant dateLTI\u2019s granted31.12.2024 Expiry dateprice rangeOthers (not specified) 10/20/2020 408,000 231,880 10/20/2027 47.00 Sum 408,000 231,880 2022 LTIPNumber of Number of LTI\u2019s vested at Exercise Name Grant dateLTI\u2019s granted31.12.2024 Expiry dateprice rangeOthers (not specified) 12/7/2021 303,000 211,160 12/7/2028 20.89 Sum 303,000 211,160 New LTIPNumber of Number of LTI\u2019s vested at Exercise Name Grant dateLTI\u2019s granted31.12.2024 Expiry dateprice rangeThomas Berge (CEO) 12/7/2022 2,000,000 1,333,333 12/7/2026 8,11 - 10,17 Morten L\u00f8ken Edvardsen (CFO) 12/7/2022 1,250,000 833,333 12/7/2026 8,11 - 10,17 P\u00e5l Marius Brun (CPO) 12/7/2022 1,000,000 666,667 12/7/2026 8,11 - 10,17 Lin Austb\u00f812/7/2022 - 833,333 12/7/2026 8,11 - 10,17 (Chief People and Strategy Officer)Rune Strandli (CTO) 12/7/2022 1,000,000 666,667 12/7/2026 8,11 - 10,17 Benoit Bole (COO Western Europe) 12/7/2022 1,250,000 816,667 12/7/2026 8,11 - 10,17 Ina Rasmussen (COO Northern Europe) 12/7/2022 1,250,000 833,333 12/7/2026 8,11 - 10,17 Riccardo Dragoni (COO Central Europe) 12/7/2022 833,334 416,667 12/7/2026 8,11 - 10,17 Others (not specified) 12/7/2022 6,946,001 1,585,319 12/7/2026 8,11 - 10,17 Sum 15,529,335 7,985,319 Number of COB Options Average priceVested COB Options 2,000,000 11.70 Unvested COB Options - - Total outstanding COB Options 2,000,000 Number of Expiration Strike priceoptions Vesting datedateUnvested COB Options - - 8/31/2024 8/31/2031Sum - Q4 2024 2024Number of Number of options Average priceoptions Average priceTotal unvested COB Options - - - - Assigned COB Options 2,000,000 11.70 - 11.70 Cancelled COB Options - - - - Dropped COB Options - - - - Expired COB Options in the period - - - - Exercised COB Options in the period - - - - Total outstanding COB Options 2,000,000 11.70 - 11.70 Number of Number of COB Options COB Options vested at Exercise price Name Grant dategranted31.12.2024 Expiry daterangeAndre Alexander Christensen8/31/2022 2,000,000 2,000,000 8/31/2031 11.70 (Chair)Sum 2,000,000 2,000,000 Fair value of the LTI\u2019s and RSU\u2019s are calculated using an adjusted (for exercise behavior) Black-Scholes option pricing model.The following assumptions are used in the calculations:\u2022 The share price is set equal to the offer price of Link Mobility Group Holding ASA at the time of grant.\u2022 The strike price for the RSUs is set equal to the nominal share value (NOK 0.005).We assume that historical volatility of a selected group comparable companies within the CPaaS-univserse is an indication of future volatility.Expected volatility is set identical to historical volatility, equal to 61 % in the calculations for the first LTI\u2019s and for the RSU\u2019s. The volatility for the LTI II is estimated at 51%, and the volatility for the COB options is estimated at 59.99%.We assume that the employees will exercise the options at the mid-point between earliest and latest possible exercise opportunity. For each grant, the expected lifetime is set to vesting plus 1-year.Risk free rate used in the calculations is set equal to the rate of Norwegian treasury bills and Government Bonds corresponding to the lifetime of the option.Remuneration to the Board of DirectorsThe Board of Directors who did not waive their right to remuneration received payment in July/August 2024. On May 29, 2024, the Company\u2019s general meeting resolved the following remuneration for the Board of Directors for the period from May 29, 2024 until the annual general meeting is held in 2025:Name RemunerationBoard of Remuneration Audit CommitteeDirectorsCommitteeAndre Alexander Christensen (Chair) 700,000 65,000 85,000 Sabrina Emma Gosman 430,000 - - Robert Joseph Nicewicz Jr. 430,000 43,000 - Grethe Viksaas 430,000 - 58,000 Sara Murby Forste 430,000 - 58,000 Jens Rugseth 430,000 - - Robert Joseph Nicewicz Jr. and Sabrina Emma Gosman have all waived their right to remuneration and therefore the Company will not remunerate these board members in accordance with the amounts set in the table above.Remuneration to the Nomination CommitteeOn May 29, 2024, the Company\u2019s general meeting resolved the following remuneration for the nomination committee for the period from May 29, 2024 until the annual general meeting is held in 2025:Name RemunerationTor Malmo (Chair) 65,000 Oddny Svergja 43,000 No loans, advances, or guarantees have been granted to key group employees, Board members, or nomination committee members.Note 10 Other operating expenses (Amounts in NOK 1000)2024 2023Advisors and consultants 59,711 58,888 IT, licenses and hosting 116,047 100,653 Restructuring costs 29,869 7,658 Cost related to acquisition of subsidiaries* 34,263 6,384 Sales and marketing cost 37,523 39,338 Cost for premises 13,987 11,217 Inventory and equipment 5,983 6,104 Bad debts expense 24,938 7,502 Other expenses** 51,610 46,706 Total other operating expenses - continuing operations 373,932 284,450 Total other operating expenses - discontinued operations - 72,978 * This expense line item includes costs related to both completed and ongoing acquisitions. ** Other expenses include variable operating expenses related to overhead, travel costs and other operating expenses.The table below summarises audit fees for FY2024 (FY2023) and fees for audit related services, tax services and other services incurred by the Group during the period. Fees include both Norwegian and foreign subsidiaries. 2024 2023Audit fee* 8,990 10,116 Other attestation services 386 397 Tax consulting services - 310 Other services 248 270 Total fee to auditor 9,624 11,093 *In addition to the audit fees presented above NOK 716k (2023: NOK 102k), is remunerated to auditors other than PwC.Fees paid for Message Broadcast LLC are included above. In 2024, these audit fees were nil (2023: NOK 568k).Note 11 Net finance income and expenses(Amounts in NOK 1000)The Group\u2019s finance income and expense is comprised of gains (losses) from foreign exchange and from exposure to interest expenses related to loans from financial institutions. Interest amounts are presented as a sum of interest on borrowings offset by amortised cost recognised in the profit and loss. All categories of financial income and expense are presented on a net basis.Net financial income and expenses 2024 2023Net currency exchange gains (losses)\u00b9 36,678 44,319 Net interest expense -64,097 -139,667 Net other financial income (expense) -15,951 6,002 Total finance income from continuing operations -43,370 -89,345 Total finance income (expense) from discontinued operations - -9,520 Net interest expense 2024 2023Interest expense financial institutions - - Interest expense leases -2,476 -3,336 Interest expense bond loan -160,767 -142,704 Other interest income (expenses) 99,146 6,373 Total net interest expense from continuing operations -64,097 -139,667 Total net interest expense from discontinued operations - 9 Net other financial income (expenses) 2024 2023Bond loan call premium 15,503 - Earn-out payment from M&A transactions\u00b2 - 5,845 Other financial (expenses) income 448 157 Total net other financial income from continuing operations 15,951 6,002 Total net other financial expenses from discontinued operations - -9,510 \u00b9 Foreign currency gain/loss is presented on a net basis here and in the Consolidated Statement of Profit and Loss. Exposure to fluctuations in foreign currency comes from external lending denominated in EUR. Refer to note 19 (interest-bearing liabilities) and note 20 (financial instruments, risk management objectives, and policies) for further details.\u00b2 Purchase price of subsidiaries \u2013 earn-out Periodically, the Group acquires subsidiaries where the preliminary purchase price is based on an assumption that the acquired company will achieve a target EBITDA for the current financial year. The final purchase price is subject to an upwards or downwards earn-out adjustment based on the company\u2019s actual achieved EBITDA. The earn-out adjustment is accounted for in the income statement as finance income or expense. Adjustments made are: 2023 - This is a reversal of the remaining earn-out amount previously accrued for the acquisitionof Marketing Platform.Note 12 Earnings per share (Amounts in NOK 1000)The Group\u2019s earnings per share are calculated as below:2024 2023Net earnings (loss) from continuing operations 171,544 38,356 Net income from discontinued operations 84,025 28,926 Owners of LINK Mobility Group Holding ASA 255,483 67,282 Weighted average number of ordinary shares (basic) at December 31 298,282 297,059 Basic earnings (loss) per share from total operations (NOK) 0.86 0.23 Basic earnings (loss) per share from continuing operations (NOK) 0.58 0.13 Basic earnings per share from discontinued operations (NOK) 0.28 0.10 Weighted average number of ordinary shares (diluted)Weighted average number of ordinary shares (basic) 298,282 297,059 Effect of share options on issue 8,203 8,478 Weighted average number of ordinary shares (diluted) at December 31 306,485 305,537 Diluted earnings (loss) per share from total operations (NOK) 0.83 0.22 Diluted earnings (loss) per share from continuing operations (NOK) 0.56 0.13 Diluted earnings per share from discontinued operations (NOK) 0.27 0.09 Number of outstanding ordinary shares per 01.01 297,059 295,890 Number of outstanding ordinary shares per 12.31 298,282 297,059 Note 12 Earnings per share (Amounts in NOK 1000)The Group\u2019s earnings per share are calculated as below:2024 2023Net earnings (loss) from continuing operations 171,544 38,356 Net income from discontinued operations 84,025 28,926 Owners of LINK Mobility Group Holding ASA 255,483 67,282 Weighted average number of ordinary shares (basic) at December 31 298,282 297,059 Basic earnings (loss) per share from total operations (NOK) 0.86 0.23 Basic earnings (loss) per share from continuing operations (NOK) 0.58 0.13 Basic earnings per share from discontinued operations (NOK) 0.28 0.10 Weighted average number of ordinary shares (diluted)Weighted average number of ordinary shares (basic) 298,282 297,059 Effect of share options on issue 8,203 8,478 Weighted average number of ordinary shares (diluted) at December 31 306,485 305,537 Diluted earnings (loss) per share from total operations (NOK) 0.83 0.22 Diluted earnings (loss) per share from continuing operations (NOK) 0.56 0.13 Diluted earnings per share from discontinued operations (NOK) 0.27 0.09 Number of outstanding ordinary shares per 01.01 297,059 295,890 Number of outstanding ordinary shares per 12.31 298,282 297,059Note 13 Transactions with related parties (Amounts in NOK 1000)Balances and transactions between LINK Mobility Group Holding ASA and its subsidiaries, which are related parties of LINK Mobility Group AS, have been eliminated on consolidation and are not disclosed in this note.During the year, the Group has not entered into any transactions with related parties.At December 31, 2024, the Company had no balances with related parties.Note 14 Intangible assets (Amounts in NOK 1000)Goodwill and intangible assets acquired in a business combination are recognised initially as set out in note 3, section 3.3, Business Combinations.Amortisation of intangible assets are based on the following estimated useful lives:Goodwill IndefiniteTradename 25 yearsCustomer relations/contracts 7-10 yearsTechnology 3-10 yearsGoodwill is not amortised but is reviewed for impairment at least annually, or more frequently when there is an indication that the cash-generating unit to which goodwill has been allocated, may be impaired. Goodwill is allocated to each of the Group\u2019s cash-generating units (or groups of cash-generating units) expected to benefit from the synergies of the combination. If the recoverable amount of the cash-generating unit is less than the carrying amount of the unit, the impairment loss is allocated first to reduce the carrying amount of any goodwill allocated to the unit and then to the other assets of the unit pro-rata on the basis of the carrying amount of each asset in the unit. An impairment loss recognised for goodwill is not reversed in a subsequent period. On disposal of a cash generating unit, the attributable amount of goodwill is included in the determination of the gain or loss on disposal in the income statement.Intangible assets acquired in a business combination and recognised separately from goodwill, such as tradename and customer relations are recognised initially at their fair value at the acquisition date (which is regarded as their cost).Subsequent to initial recognition, intangible assets acquired in a business combination are reported at cost less accumulated amortisation and accumulated impairment losses. Amortisation is recognised on a straight-line basis over their estimated useful lives. The estimated useful life and amortisation method are reviewed at the end of each reporting period, with the effect of any changes in estimate being accounted for on a prospective basis. Intangible assets with indefinite useful lives are carried at cost less accumulated impairment losses.Separately acquired intangible assetsIntangible assets with finite useful lives such as technology, that are acquired separately are carried at cost less accumulated amortisation and accumulated impairment losses. Subsequent to initial recognition, separately acquired intangible assets are reported at cost less accumulated amortisation and accumulated impairment losses, on the same basis as intangible assets that are acquired in a business combination.Internally generated intangible assets \u2013 TechnologyExpenditure on development activities is recognised as an expense in the period in which it is incurred. An internally generated intangible asset arising from development of the Group\u2019s technical platforms and products is recognised if, and only if, all the following conditions have been demonstrated:\u2022 the technical feasibility of completing the intangible asset so that it will be available for use or sale; \u2022 the intention to complete the intangible asset and use or sell it; \u2022 the ability to use or sell the intangible asset; \u2022 how the intangible asset will generate probable future economic benefits; \u2022 the availability of adequate technical, financial and other resources to complete the development and to use or sell the intangible asset; and\u2022 the ability to measure reliably the expenditure attributable to the intangible asset during its development.The amount initially recognised for internally generated intangible assets is the sum of the expenditure incurred from the date when the intangible asset first meets the recognition criteria listed above. Where no internally generated intangible asset can be recognised, development expenditures are expensed as incurred.Subsequent to initial recognition, internally-generated intangible assets are reported at cost less accumulated amortisation and accumulated impairment losses, on the same basis as intangible assets that are acquired in a business combination.In FY2024, as in the prior year, internally generated intangible asset investment has been focussed on increasing the CPaaS offering. Investment is in line with the LINK strategy to expand from one-way communication services into a global leader in the CPaaS industry. MyLINK Connect and MyLINK MarketingPlatform are two examples of internally generated intangible assets. SSU also contributes to this category and combined, all contribute to the CPaaS offering. Expenditure on development activities is recognised as an expense in the period in which it is incurred. An internally generated intangible asset arising from development of the Group\u2019s technical platforms and products is recognised if, and only if, all the following conditions have been demonstrated: Customer Year ended December 31, 2023 Trade name relations Technology Goodwill Total Opening net book value 281,931 1,737,970 909,601 5,788,277 8,717,780 Effect of discontinued operations - -939,848 -139,521 -1,714,886 -2,794,255 Net additions from acquired - - - - - businesses Additions in period - 10,089 105,899 - 115,988 Exchange differences 603 81,909 37,404 315,479 435,396 Amortization charge -13,209 -146,211 -153,017 - -312,437 Closing net book amount 269,326 743,910 760,365 4,388,870 6,162,471 Closing net book amount - 827,341 173,477 1,713,079 2,713,897 (assets held for sale) At December 31, 2023 Cost 339,344 1,539,095 1,378,263 4,569,230 7,825,933 Accumulated amortisation and -70,019 -795,186 - 617,898 -180,360 -1,663,462 impairment Net book amount 269,326 743,910 760,365 4,388,870 6,162,471 Estimated useful life 25 years 7-10 years 3-10 years Indefinite Amortisation method Linear Linear Linear Customer Year ended December 31, 2024 Trade name relations Technology Goodwill Total Opening net book value 269,326 743,910 760,365 4,388,870 6,162,471 Net additions from acquired 9,977 77,650 21,890 113,232 222,749 businesses Additions in period -38 -451 141,752 - 141,263 Exchange differences 443 27,393 19,911 171,012 218,758 Amortization charge -13,209 -149,192 -147,608 - -310,009 Closing net book amount 266,498 699,309 796,311 4,673,114 6,435,233 At December 31, 2024 Cost 349,090 1,894,983 1,568,928 4,853,474 8,666,475 Accumulated amortisation and -82,591 -1,195,674 -772,617 -180,360 -2,231,243 impairment Net book amount 266,498 699,309 796,311 4,673,114 6,435,233 Estimated useful life 25 years 7-10 years 3-10 years Indefinite Amortisation method Linear Linear Linear Trade nameThe LINK name was established in 2008 and has become a known name within the mobile solutions industry. The estimated useful life is determined to be 25 years and is amortised accordingly. The trade name has not been allocated to specific CGUs.Customer RelationshipsFor customer relationships identified and recognised through business combinations, the amortisation period is estimated to be between 7-10 years. The amortisation period is based on an analysis of customer churn and the remaining useful life of the customer relationships recogonised in the balance sheet.TechnologyAmortisation of capital expenditure for the development of Group technology is between 3-10 years. For technology acquired through business combinations, the amortisation period is between 7-10 years based on an evalution of the technological solution.GoodwillGoodwill generated from business combinations is primarily related to anticipated growth prospects for the acquired businesses. Impairment testGoodwill and other intangible assets with an indefinite useful life (i.e. trade name) are not amortised. They are tested for impairment on an annual basis at a cash generating unit (hereafter \u201cCGU\u201d) level, and more frequently if there are indications that amounts may be impaired. In accordance with IAS 36 - Impairment of Assets, the carrying amount of the CGU to which goodwill has been allocated is compared with the recoverable amount of the CGU. The recoverable amount is determined based on value-in-use calculations. These calculations use cash flow projections reflective of management\u2019s best estimate extended over a five year period. The assumed growth rate has been based on the management growth estimate for the next five years and subsequently reduced to 2% for the purpose of determining the terminal value. As terminal value is applied to revenue and COGS, the gross margin percentage holds stable after the 5-year forecast period; the same is true for EBIDTA margin percentage and EBIT percentage.Certain key assumptions are:Low Range High RangePre-tax discount rates (WACC) 7.00% 14.90%Revenue growth 5.00% 25.00%Gross Margin % 9.00% 45.60%EBITDA Margin % 5.50% 33.00%Total impairment headroom is NOK 6 867 million (NOK 7 759 million). Development of WACC discount rates over the past two years have contributed to reduced impairment headroom overall.The Group, based on an assessment of the facts and circumstances, has concluded that each country constitutes a separate CGU. Goodwill is monitored at the country level for impairment purposes. Goodwill has been allocated to each CGU as presented in the table below. Goodwill2024 2023Norway* 806,490 806,490 Sweden 213,251 209,874 Denmark 353,460 337,056 Finland 247,895 235,391 Germany* 821,001 782,405 Spain 100,039 26,378 Poland 321,532 301,861 Bulgaria 73,212 69,770 France* 466,685 444,746 Switzerland 218,399 211,548 Italy 299,037 284,896 Austria* 534,141 509,030 United Kingdom 27,731 7,513 Hungary 14,954 15,313 Netherlands 153,830 146,598 Portugal 21,457 - Total 4,673,114 4,388,870 Total (held for sale) - 1,713,079 * These CGU\u2019s are deemed significant.Key assumptions specific to significant CGU\u2019s (see below) are:Norway GermanyLow Range High Range Low Range High RangePre-tax discount rates (WACC) 10.10% 10.10% 9.40% 9.40%Revenue growth 15.00% 20.00% 11.00% 12.00%Gross Margin % 31.00% 32.00% 18.00% 19.00%EBITDA Margin % 21.00% 23.50% 11.00% 13.30%France AustriaLow Range High Range Low Range High RangePre-tax discount rates (WACC) 10.50% 10.50% 9.70% 9.70%Revenue growth 10.00% 15.70% 10.00% 10.00%Gross Margin % 25.00% 25.00% 43.00% 44.00%EBITDA Margin % 14.00% 15.00% 29.00% 31.00%The impairment test shows that the recoverable amounts significantly exceed the carrying amount of the CGUs.Sensitivity analysisIn connection with the impairment testing of intangible assets, a sensitivity analysis has been performed. The sensitivity analysis uses terminal growth of 2% after five years. The estimates used to determine future cash flows and WACC when calculating value in use are subject to uncertainty. The assumptions are described as follows:Budgeted period - The basis for the projection of the future cash flows estimated is based on the financial budget of one year. The budget in combination with the forecasts represent management\u2019s best estimate of the rance of economic conditions that will exist over a five-year period. The forecasted years are estimated based on the company\u2019s strategic initiatives.Local currency and Fx rates - All CGU\u2019s forecasted projections are done using NOK.Terminal value - terminal value is calculated using the Gordon growth formula based on previous year cash-flow, user-specified long-term growth and WACC for the specific CGU.WACC - future cash flows are discounted to present value using a discounted rate based on a calculation of a weighted average cost of capital (WACC). The pre-tax WACC is based on an average interest rate adjusted for each CGU.Management have concluded that no forseable change in any of the key assumptions used in the impairment test would cause the carrying amounts of the cash-generating units with significant goodwill to exceed recoverable amounts.Note 15 Equipment and fixtures (Amounts in NOK 1000)Period ended December 31, 2023Opening net book amount 20,663 Additions 5,857 Net additions from acquired businesses - Disposals 248 Depreciation charge -7,742 Translation differences 1,406 Closing net book amount 12.31 20,432 Closing net book amount 12.31 (held as available for sale) 1,527 Period ended December 31, 2024Opening net book amount 20,432 Net additions from acquired businesses* 1,556 Additions 9,083 Disposals 35 Depreciation charge -9,666 Translation differences 898 Closing net book amount 12.31 (continuing operations) 22,339 Closing net book amount 12.31 (held as available for sale) - Cost 84,941 Accumulated depreciation -62,602 Net book amount 12.31 22,339 Estimated useful life, depreciation plan and residual value is as follows:Economic (useful) life 3-5 yearsDepreciation plan Linear* Net additions for acquired businesses is presented as part of payment for acquisition of subsidiary, net of cash acquired in the consolidated statement of cash flows.Note 16 Trade and other receivables (Amounts in NOK 1000)2024 2023Trade receivables 1,072,151 1,172,768 Unbilled revenue 188,110 165,111 Prepayments 27,447 17,688 Other receivables 322,316 24,846 Total trade and other receivables from continuing operations 1,610,024 1,380,412 Total trade and other receivables held as available for sale - 98,375 The above trade receivables and other receivables represent the Group\u2019s maximum exposure to credit risk at the balance sheet date. Trade accounts receivable relate to the sale of mobile messaging transactions, payment services, licenses, and consulting services; these are within the normal operating cycle.Accrued revenues are representative of an estimate for messaging traffic. An accrual for revenue is made to best reflect volumes in advance of when an invoice from the telecommunications provider is received.The Group measures the loss allowance for trade receivables at an amount equal to lifetime expected credit losses. The Group recognises a loss allowance of 100% against all receivables that are deemed to be at risk (i.e. potential bankruptcy, artificially inflated traffic); these are evaluated individually each month. If it is probable that the receivable will be collected based on past experience with customer and financial position of the debtor, no provision is made. Additional allowances for specific balances are recognised based on past experience and an analysis of the financial position of the debtor along with other relevant factors.There is no loss allowance related to accrued revenues.The Group has recognised a provision for bad debts of KNOK 55 546 (FY2023 - KNOK 48 530). Trade receivables recognised as a part of business combinations are recognised at fair value on the date of acquisition, allowance for impairment amounted to KNOK 0 (FY2023 - KNOK 0).Ageing of past due but not impaired trade receivables(in thousands of NOK) 2024 % 2023 %Not past due 635,302 59 % 543,917 46 %1-30 days overdue 237,463 22 % 201,688 17 %31-60 days overdue 76,896 7 % 104,495 9 %61-90 days overdue 28,851 3 % 69,897 6 %91-180 days overdue 57,151 5 % 122,398 10 %More than 180 days overdue 36,488 3 % 130,374 11 %Total 1,072,151 100 % 1,172,768 100 %Note 17 Cash and cash equivalents (Amounts in NOK 1000)2024 2023Cash held in banks 2,478,701 1,096,596 Total cash and cash equivalents from continuing operations 2,478,701 1,096,596 Total cash and cash equivalents held as available for sale - 11,636 Restricted cash 2024 2023Taxes withheld 34,167 36,912 Other restricted cash 22,415 10,494 Total restricted cash from continuing operations 56,583 47,406 Cash and cash equivalents include restricted cash related to regulatory requirements. The cash pool is a zero-balancing cash-pool, including the automatic transfers of funds between a master account and subsidiary accounts to cover deposit and withdrawal activity wihin the arrangement. LINK Mobility Group AS is the cash pool administrator/master and holder of the top accounts in different currencies (defined as Facility Accounts). In addition to Facility Accounts, various transactional accounts exist in the same currency as the Facility Account; these are defined as Detail Accounts. Funds deposited into a Detail Account are automatically and instantly transferred to a Facility Account. Similarly, funds withdrawn from a Detail Account are automatically and instantly transferred from a Facility Account. The Detail Accounts maintain a balance of zero, whereas each Facility Account holds the credit or debit balance of the funds available for drawing in the cash pool. A Facility Account (and its balance) is owned solely by LINK and creates rights and obligations only between LINK and the bank. The balance on the Facility Accounts is subject to interest calculations between LINK and the bank. Transactions (deposits or withdrawals) cannot be performed on a Facility Account, but must be performed using a Detail Account. The Bank registers each transaction between each Facility Account and each Detail Account in the cash pool and the total balance thereof. This balance reflects the intra-Group balance between LINK and each Detail Account Holder. The participating entities of the Group have internal balances toward LINK through the use of the Detail Accounts.Note 18 Share capital and shareholder information Share capital as at December 31, 2024 is NOK 1 494 (2023: NOK 1 485), being 298 706 434 ordinary shares (2023: 297 059 271 ordinary shares) at a nominal value of NOK 0.005/share (2022: NOK 0.005/share). There are no preference shares in FY2024 (FY2023: nil). All shares were fully paid; each ordinary share carries one vote at any general meeting.The movement in the number of shares during the year was as follows:2024 2023Ordinary shares opening balance 2024/2023 297,059,271 295,890,306 Issue of ordinary shares (June 05, 2023) 174,692 Issue of ordinary shares (November 08, 2023) 909,110 Issue of ordinary shares (December 22, 2023) 85,163 Issue of ordinary shares (April 04, 2024) 1,647,163 Ordinary shares at the end of the period 298,706,434 297,059,271 Total number of shares at the end of the period 298,706,434 297,059,271 LINK Mobility Group Holding ASA has the following major shareholders as at December 31, 2024:Name of shareholder Type of account Ownership interestCitibank, N.A. Nominee 28.64%LINK MOBILITY GROUP HOLDING ASA Ordinary 5.42%KARBON INVEST AS Ordinary 5.34%The Bank of New York Mellon SA/NV Nominee 4.56%SUNDT AS Ordinary 4.02%FOLKETRYGDFONDET Ordinary 3.39%J.P. Morgan SE Nominee 2.69%VERDIPAPIRFONDET DNB NORGE Ordinary 2.61%SKANDINAVISKA ENSKILDA BANKEN AB Ordinary 2.27%VERDIPAPIRFONDET DNB SMB Ordinary 1.65%VPF DNB NORGE SELEKTIV Ordinary 1.51%VERDIPAPIRFONDET ALFRED BERG GAMBA Ordinary 1.27%J.P. Morgan SE Nominee 1.18%Merrill Lynch, Pierce, Fenner & Sm Nominee 1.12%BARCLAYS CAPITAL SEC. LTD FIRM Ordinary 1.11%The Bank of New York Mellon SA/NV Nominee 0.98%Em Kapital As Ordinary 0.86%The Bank of New York Mellon SA/NV Nominee 0.75%The Bank of New York Mellon SA/NV Nominee 0.71%J.P. Morgan SE Nominee 0.69%70.75%The company\u2019s trustees (Board Members, management) hold ownership interests and rights to shares:Name of shareholder Total number of sharesVictory Partners VIII Limited via a nominee account in 85,540,774 Citibank (controlled by Abry who have 2 Board members)LINK Mobility Group Holding ASA 16,202,629 Karbon Invest AS (controlled by Jens Rugseth) 15,945,105 HDR Srl (controlled by Riccardo Dragoni) 664,215 Rugz AS (controlled by Jens Rugseth) 500,000 Thomas Berge 457,900 Ina Rasmussen 74,817 Lin Austb\u00f8 41,939 Morten L\u00f8ken Edvardsen 37,913 P\u00e5l Marius Brun 11,155 Sara Murby Forste 15,957 Riccardo Dragoni 8,612 Grethe Helene Viksaas (Board member) 6,382 Benoit Bole 1,217Note 19 Classes and categories of financial instruments (Amounts in NOK 1000)Carrying value2024 2023Current financial assetsTrade receivables 1,072,151 1,172,768 Cash and cash equivalents 2,478,701 1,096,596 Non-current financial liabilitiesBorrowings 1,457,520 4,008,320 Lease liabilities 19,608 31,421 Current liabilitiesBorrowings 2,019,655 2,741 Lease liabilities 11,948 14,549 Trade payables 781,081 845,406 The financial assets held by the Group are held within a business model whose objective is to hold financial assets in order to collect contractual cash flows and are thus measured subsequently at amortised cost less loss allowances.All financial liabilities are measured at amortized cost.The carrying amounts of financial assets and liabilities approximate their fair value as at December 31, 2024. Arrangements with financial institutions are entered into on market terms, and the carrying value at the reporting date has been assessed as approximating fair value.The recognised amounts consitute a reasonable approximation of fair value.Note 20 Interest-bearing liabilities (Amounts in NOK 1000)Interest bearing liabilities are measured at amortised cost. Non-current financial liabilities 2024 2023Bond loan 1,457,521 4,008,320 Long-term lease liability 19,608 31,421 Total non-current financial liabilities - continuing operations 1,477,129 4,039,741 Total non-current financial liabilities - held as available for sale - 3,205 Current liabilities 2024 2023Bond loan* 2,001,760 - Short-term lease liability 11,948 14,549 Debt to financial institutions/bond loan* 17,895 2,741 Total current liabilities - continuing operations 2,031,604 17,290 Total current liabilities - held as available for sale - 2,752 *Bond principal and instalments falling due within a 12 month period, including non-capitalised interest, are classified as current.The book value of borrowings is estimated to approximate their fair value.Debt out-Amortized Amortized Due date Facility / Currencystandingcost EURcost NOK Maturity Term Interest p. a.InterestBond loan (tap issue 1,000 1,000 11,795 Dec 15, 2025 5 year 3.375 % p.a. Half yearly12.15.2020)Bond loan (tap issue 170,000 168,713 1,989,965 Dec 15, 2025 5 year 3.375 % p.a. Half yearly06.23.2021)Bond loan (tap issue 125,000 123,571 1,457,521 Oct 23, 2029 5 year EURIBOR + Quarterly10.23.2024)2.350%Total 3,459,281 2024 2023Bond loan (tap issue 12.15.2020) 11,795 2,247,583 Bond loan (tap issue 06.23.2021) 2,003,060 1,908,130 Bond loan repurchase (12.06.2023) - -112,405 Bond loan (tap issue 10.23.2024) 1,474,457 - Transaction costs (tap issue 12.15.2020)\u00b9 -21,228 -21,228 Transaction costs (tap issue 06.23.2021)\u00b9 -56,127 -56,127 Transaction costs (tap issue 10.23.2024)\u00b9 -17,707 - Amortisation (tap issue 12.15.2020) 21,228 12,462 Amortisation (tap issue 06.23.2021) 43,032 29,906 Amortisation (tap issue 10.23.2024) 770 - Long-term borrowings 3,459,281 4,008,320 Accrued interest and fees\u00b2 17,895 2,741 Carrying amount 3,477,176 4,011,061 \u00b9 The bond loan is initially measured at fair value net of transaction costs and it is subsequently measured at amortized cost using the effective interest rate method. Consequently, the transaction cost will be amortized over the life of the bond loan. The carrying value of the bond loan will be equal to the principal amount of EUR 171 million at maturity in FY2025 and EUR 125 million in FY2029.\u00b2 Accrued bond loan interest is classified as short-term borrowings in the statement of financial position. It is included above to provide a total picture for the carrying amount of the bond loan.LINK01 is also due in December 2025; classification for the outstanding bond is short-term.Maturity analysis of borrowings (including interest)Contractual maturities of financial < 33 months2 - 34 - 5liabilities at December 31, 2024months- 1 yearyearsyears TotalBond loan (tap issue 12.15.2020) - 12,193 - - 12,193 Bond loan (tap issue 06.23.2021) - 2,072,824 - - 2,072,824 Bond loan (tap issue 10.23.2024) - 80,914 161,827 1,636,202 1,878,944 Lease liabilities - 11,948 6,536 13,072 31,557 Total - 2,177,879 168,364 1,649,275 3,995,517 Contractual maturities of financial < 33 months 2 - 34 - 5 liabilities at December 31, 2023months- 1 yearyearsears TotalBond loan (tap issue 12.15.2020) - 75,873 2,323,973 - 2,399,847 Bond loan (tap issue 06.23.2021) - 64,492 1,975,377 - 2,039,870 Lease liabilities - 14,549 10,474 20,948 45,970 Total - 154,914 4,309,825 20,948 4,485,687 CovenantsUnder the LINK01 and LINK02 bond terms, the Group is required to comply with the following financial covenants at the respective quarterly and annual test dates:Financial Reporting:\u2022 Publish interim accounts (quarterly reports) in the English language on the Group website (or other relevant platform) no later than 60 days (LINK01) and 2 months (LINK02) after the end of the relevant interim period.\u2022 Publish annual financial statements in the English language on the Group website (or other relevant platform) no later than 120 days (LINK01) and 4 months (LINK02) after the end of the fiscal year.A compliance certificate is to be provided with a copy of the financial reports; the compliance certificate is to be signed by the Chief Executive Officer or the Chief Financial Officer to certify that the financial reports are fairly representative of its financial condition as at the date of those financial statements (LINK01 and LINK02).Accounting standards are to be consistently applied (LINK01 and LINK02).Financial Indebtedness:Except as permitted, the Issuer shall not, and shall procure that no other Group Company will, incur any additional Financial Indebtedness or maintain or prolong any existing Financial Indebtedness (LINK01 and LINK02).Negative Pledge:Excluding Permitted Security, the Issuer shall not, and shall procure that no other Group Company will, create or allow to subsist, retain, provide, prolong or renew any Security over any of its/their assets (whether present or future) (LINK01 and LINK02).Disposals of Business:The Issuer shall not, and shall ensure that no other Group Company will, sell, transfer or otherwise dispose of all or substantial part of its assets or operations unless the transaction is carried out at fair market value, on terms and conditions customary for such transaction and such transaction would not have a Material Adverse Effect (LINK01 and LINK02).Distribution:Except as permitted, the Issuer shall not, and shall procure that no other Group Company will make any Distribution (LINK01). Except as permitted, the Issuer shall not, and shall ensure that no other Group Company will, make any Distribution, other than any Permitted Distribution (LINK02).Incurrence Test:The incurrence test is met if the Leverage Ratio is less than, for any additional Financial Indebtedness (3.50x) (LINK01 and LINK02) or for Distributions (1.50x) (LINK01).The Interest Coverage Ratio exceeds 3.0x (LINK01).Compliance with the Incurrence Test is subject to in each case, that no Event of Default is outstanding or would result from the relevant event for which compliance with the Incurrence Test is required (LINK01 and LINK02).Collateral and guaranteesOn December 15, 2020, LINK Mobility Group Holding ASA (LINK) successfully completed the issuance of EUR 200 million senior unsecured bonds, with a EUR 350 million borrowing limit. Part of the proceeds from the bond issue were used to repay the remaining outstanding senior facility agreement (SFA).On June 23, 2021, LINK issued EUR 170 million new bonds in LINK\u2019s outstanding 5-year senior unsecured 3.375% fixed rate bond issue, raising the total outstanding amount to EUR 370 million. The bonds were issued at par.The bonds have a 5-year tenor and a fixed coupon of 3.375% p.a.; any outstanding bonds are to be repaid in full at the maturity date.On October 29, 2024, LINK successfully placed a EUR 125 million senior unsecured bond due October 29, 2029 (\u201cLINK02\u201d). The bond will have a coupon of 3-month EURIBOR + 2.35% per annum. Listing will be on the Oslo Stock Exchange and the Frankfurt Open Market.With the new bond issue, the company has bought back EUR 125 million of LINK01 (ISIN: NO0010911506) (\u201cLINK01\u201d) due December 2025 which was cancelled. As part of this transaction, a call premium of EUR 1.3 million was paid (presented as other financial items in the consolidated statement of cash flows). The EUR 74 million of LINK01 bonds held by LINK were also cancelled. Cancellations were executed on October 23, 2024.The nominal outstanding amount in LINK01 is EUR 171 million; this is classified as a current liability.(Amounts in NOK 1 000) 2024 2023Bond principal 3,489,312 4,155,712 Transaction costs\u00b9 -95,062 -77, 355 Debts secured by collateral 3,394,250 4,078,357 \u00b9 The bond loan is initially measured at fair value net of transaction costs and it is subsequently measured at amortized cost using the effective interest rate method. Consequently, the transaction cost will be amortized over the life of the bond loan. The carrying value of the bond loan will be equal to the principal amount of EUR 171 million at maturity in FY2025 and EUR 125 million in FY2029.Movements in borrowingsSee table below for changes in liabilities arising from financing activities, both cash flows and no cash flow changes.Bond loan Holdback Other Total12/31/2022 3,842,567 - - 3,842,567 New debt - - - - Bond re-purchase* -117,960 -117,960 Cancellation of debts - - - - Effects of foreign exchange 272,344 - - 272,344 Transaction costs - - - - Amortization 16,840 - - 16,840 Interest and fees paid -146,916 - - -146,916 Interest and fee expenses 144,186 - - 144,186 12/31/2023 4,011,061 - - 4,011,061 Bond loan Holdback Other Total12/31/2023 4,011,061 - - 4,011,061 Reclassification of bond re-purchase (prior 117,960 - - 117,960 year)*Opening balance 31.12.2023 4,129,021 - - 4,129,021 New debt** 1,481,563 - - 1,481,563 Cancellation of debts*** -2,358,648 - - -2,358,648 Effects of foreign exchange 205,130 - - 205,130 Transaction costs** -17,707 - - -17,707 Amortization 22,663 - - 22,663 Interest and fees paid -123,039 - - -123,039 Interest and fee expenses 138,194 - - 138,194 12/31/2024 3,477,176 - - 3,477,176 * On December 06, 2023, LINK repurchased EUR 10 million of LINK01; this was converted to NOK at an exchange rate of 11,7960 (Norges Bank). After this date, the amount is currency adjusted at the end of each month. Presentation of this amount is as bond re-purchase in 2023 and this classification is incorrect. The bond repurchase amount, and the effect of the currency adjustment is removed from the presentation of movements in borrowings in 2024. Prior year figures are not restated as there is no impact to the consolidated income statement or to retained earnings; this is strictly classification.** The sum of new debt and transaction costs is equal to proceeds from borrowings as presented in the consolidated statement of cash flows.*** Cancellation of debts, less the effect of foreign exchange specific to the cancellation of debts (NOK 146 million),is equal to repayments of borrowings as presented in the consolidated statement of cash flows.Note 21 Financial instruments, risk management objectives, and policies Through its operations the Group is exposed to the the following financial risks;\u2022 Interest rate risk\u2022 Foreign exchange risk\u2022 Credit risk\u2022 Liquidity riskInterest rate riskInterest rate risk arises as a consequence of long-term debt.The sensitivity analysis below is based on the exposure to changes in interest rates for non-derivative instruments at the reporting date. For floating rate liabilities, the analysis is prepared assuming the amount outstanding at reporting date was outstanding for the whole year. A one percent increase or decrease represents management\u2019s assessment of reasonable and possible changes in interest rates.If interest rates had been one percent higher/lower and all other variables were held constant, the Group\u2019s profit (and corresponding equity) for the period ended December 31, 2024 would decrease/increase by KNOK 34 900 (FY2023 KNOK 41 590). This is mainly attributable to the Group\u2019s exposure to interest rates on its variable rate borrowings.Foreign exchange riskThe Group undertakes business in foreign currencies and is consequently exposed to fluctuations in exchange rates. Foreign exchange risk arises from transactions related to operations conducted, and assets and liabilities arising in foreign currencies. The Group undertakes transactions denominated in NOK, DKK, EUR, SEK, PLN, BGN, CHF, GBP, HUF, RON, MKD and USD. Revenue and cost transactions within foreign subsidiaries are normally carried out in the same currency, which mitigates the currency risk. However, as the Group\u2019s overall financial reporting is presented in NOK, changes in the value of DKK, EUR, SEK, PLN, BGN, CHF, GBP, HUF, RON, MKD or USD in relation to NOK affect the Group\u2019s overall revenue, profit or loss and financial position. Based on exposure throughout the year and balances at the period-end, the Group assesses that fluctuations in NOK/EUR and NOK/DKK have the most significant impact on the financial reporting of financial assets and liabilities. The table below summarises the impact a change in these currencies will have on the consolidated income statement and on retained earnings/accumulated losses as at December 31, 2024. The analysis is based on the assumption that the foreign exchange rates increase or decrease by 10%, all other variables held constant. (amounts in NOK 1000) NOK/EUR impact NOK/DKK impactTrade receivables 107,54 3 30,569 Borrowings and trade payables -233,918 -Credit Risk Credit risk is the risk of a counterparty defaulting. The Group\u2019s credit risk is limited to trade and other receivables and is mitigated by the Group\u2019s guidelines to ensure that credit sales are only made to customers with high credit rating. Customers with a low credit rating are required to prepay for services rendered by the Group.The Group\u2019s credit risk related to trade receivables is assessed to be limited due to the high number of diverse customers in the Group\u2019s customer base. Refer to note 16 for additional information related to trade and other receivables.The carrying value of trade and other receivables represent the Group\u2019s maximum exposure to credit risk at the balance sheet date.Liquidity risk Liquidity risk is the risk that the Group is unable to meet its financial obligations when they mature, resulting in default.The Group considers its liquidity risk to be limited, and has sufficient liquidity available on bank accounts as of year-end. Refer to notes 19 and 21 for information about maturity of trade and other payables and borrowings.The Group has no credit facilities. Subsidiaries receive all funding from the Group and are not permitted to raise external financing independently.The Group has financial debt covenants related to the senior unsecured bonds. Refer to note 20 for information about the bond convenants.Capital managementThe Group focuses on maintaining sufficient cash resources to ensure the ability to finance further activities.Hedge accountingAs a result of bond issues, it is decided to revert to a hedge of the net investment in a subsidiary that use Euro as their functional currency. The Group applies hedge accounting for hedges that meet the criteria for hedge accounting. The Group has a hedge of net investments in foreign operations.At the inception of each hedge relationship, the Group designated and documented the hedge accounting relationship, risk management objective, and strategy for undertaking the hedge. The documentation includes identification of the hedging instrument, the hedged item or transaction, the nature of the risk being hedged, and how the entity will assess the hedging instrument\u2019s effectiveness in offsetting the exposure to change in the hedged item\u2019s fair value of cash flows attributable to the hedged risk. Such hedges are expected to be highly effective in achieving offsetting changes in fair value or cash flows and are assessed on an ongoing basis to determine that they have been highly effective throughout the financial reporting periods for which they were designated.Hedge relationships that meet the requirements for hedge accounting are accounted for in the Group\u2019s consolidated financial statements as follows:Hedge of a net investmentA hedge of a net investment in a foreign operation is accounted for in a similar way to a cash flow hedge. Foreign exchange gains or losses on the hedging instrument relating to the effective portion of the hedge are recognized directly in comprehensive income while any foreign exchange gains or losses relating to the ineffective portion are recognized in the income statement. On disposal of the foreign entity, the cumulative foreign exchange gains or losses recognized in other comprehensive income is reclassified to the income statement.Exchange rate riskNet investment hedge accounting is applied when possible.ObjectiveTo reduce exposure to foreign currency risk, the objective is to hedge the outstanding bond principal (EUR) against the relevant subsidiaries comprising the underlying EUR cash flow of the company. It is to be recognized as the actual value representing future liabilities based on the exchange rates at the balance sheet date. In accordance with IFRS 9, the transaction costs related to the LINK01 bond issue which was settled on December 15, 2020 are accretion expensed (added back) over the lifetime of the bond, thus reaching nominal value at maturity in Q4 2025. The transaction costs related to the LINK02 bond issue which was settled on October 23, 2024 are accretion expensed (added back) over the lifetime of the bond, thus reaching nominal value at maturity in Q4 2029.In this case, the hedging instrument is a natural hedge between liabilities and assets denominated in EUR. Specifically, debt held in EUR and investments in subsidiaries denominated in EUR form the hedging relationship.The hedging instrument is 53.0% of a five-year fixed rate debt with the following characteristics:Type: Senior unsecured EURPrincipal amount: EUR 296 millionStart date: October 23, 2024Maturity date: October 23, 2029Interest rate: 3.375% and 3-month EURIBOR + 2.35% per annumInterest date(s): Interest payment on June 15 and December 15 each year until maturity; interest payment on January 23, 2025 and every three months until maturity.Settlement date(s): December 15, 2025 and October 23, 2029The foreign currency exposure of the hedging instrument (identified above) is designated as a hedge of the change in the value of the net investments of the subsidiaries (identified above) that is attributable to movements in the NOK/EUR spot rate.Prospective effectiveness testing will be performed at the inception of the hedge and at each reporting date.In 2024, a total of NOK 136 million (2023: NOK 83 million) is the accumulated foreign exchange effect recognized in OCI. At maturity, the final foreign exchange impact will be recycled (reclassified) to the profit and loss.Note 22 Trade and other payables (Amounts in NOK 1000)Trade and other payables 2024 2023Trade payables 781,081 845,406 Public duties 27,302 6,501 Accrued vacation pay 58,715 57, 252 Prepaid revenue 61,601 53,502 Accrued bonus expense 54,691 51,956 Accrued direct cost of services rendered 216,686 186,547 Accrued other operating expenses 275,023 292,474 Total trade and other payables from continuing operations 1,475,100 1,493,639 Total trade and other payables held as available for sale - 100,857 Trade payables is comprised of amounts outstanding for trade purchases. Accrued expenses are inclusive of accrued cost of goods sold for which a final invoice has not been received.Trade and other payables are due within three months.Note 23 Income tax(Amounts in NOK 1000)Specification of income tax expenseThe tax benefit/(expense) is calculated based on profit before income tax and consists of current tax and deferred tax. 2024 2023 Deferred tax expense (income) -15,442 -55,174 Current tax expense 65,083 67,790 Income tax expense (income) from continuing operations 49,641 12,616 Income tax expense (income) from discontinued operations - -25,391 Income tax payable (balance sheet) 2024 2023 Income tax payable 93,554 38,014 Current tax liabilities (balance sheet) from continuing operations 93,554 38,014 Current tax liabilities (balance sheet) held as available for sale - 69 Effective Tax RateThe difference between income tax calculated at the applicable income tax rate and the income tax expense attributable to loss before income tax was as follows:2024 2023Profit/(loss) before income tax from continuing operations 221,185 50,972 Statutory income tax rate* 22% 22%Expected income tax expense/(benefit) 48,661 11,214 Tax effect on non-taxable income/expenses -63,974 -14,677 Tax effect non deductible expenses 72,860 41,110 Effect of other tax rates in subsidiaries -4,533 -671 Prior year adjustment -4,932 -17,849 Effect of changes in tax rules and rates 1,188 - Non deductible interest, interest cap rules 2,714 3,641 Change in deferred tax asset not recognized -2,342 -10,152 Income tax expense/income (-) for the year from continuing operations 49,641 12,616 Effective tax rate from continuing operations 22% 25%* The statutory income tax rate based on the currently enacted tax rate in Norway.Specification of the tax effect of temporary differences and losses carried forwardDeferred tax assetsManagement judgment is required in determining provisions for income taxes, deferred tax assets and liabilities and the extent to which deferred tax assets can be recognized. The Group is also subject to income taxes in various jurisdictions. Judgment is required in determining the Group\u2019s provision for income taxes. There may be transactions and calculations for which the ultimate tax determination is uncertain during the ordinary course of business. Where the final tax outcome of these matters is different from the amounts that were initially recorded, such differences will impact the income tax and deferred tax liability and expense in the period in which such determination is made.Tax losses and interest cap for which no deferred tax asset has been recognised2024 2023Unused tax loss carry forward - - Interest cap 340,117 350,935 Potential tax benefit unused tax losses, 22% - - Potential tax benefit interest cap, 22 % 74,826 77,206 Interest cap is related to LINK Mobility Group Holding ASA and to LINK Mobility Group AS. The benefit from the interest cap carried forward is uncertain and the amount can be carried forward for 10 years.Unrecognised temporary differences2024 2023Temporary differences for which deferred tax liabilities have not been - - recognisedUnrecognised tax liabilities relating to the above temporary differences, 22 % - - Tax effect of temporary differences and tax losses carried forward as of December 31Deferred tax assets: 2024 2023Tangible and intangible assets 7,389 8,720 Interest - - Other non-current items 34,561 20,709 Total tax effect of temporary differences 41,950 29,428 Deferred tax asset arising from tax losses carried forward 97,122 113,505 Deferred tax assets 139,072 142,934 Deferred tax liabilities: 2024 2023Intangible assets (mainly due to PPA business combinations) 244,051 256,309 Other 12,429 18,122 Deferred tax liabilities from continuing operations 256,480 274,431 Deferred tax liabilities from discontinued operations - 189,943Note 24 Contingencies and legal claimsAs at December 31, 2024 and as at the date of signing of this annual report, certain Group subsidiaries are involved in ongoing legal proceedings as either defendant or as plaintiff. Due to the uncertain outcome for all of these ongoing proceedings, there are no provisions (contingent or otherwise) accounted for in the financial statements or disclosed elsewhere in the notes to the financial statements. Claims for which Group entities are defendants are deemed to be low risk as the majority are covered by guarantees as a result of acquisitions (M&A).A list of ongoing legal proceedings is provided as follows:Entity Counterparty Claim PositionLINK Mobility Italia Srl Customer \u20ac 210,000 DefendantTeracomm RO SRL Customer \u20ac 780,000 DefendantLINK Mobility Spain S.L.U. Supplier \u20ac 380,000 DefendantLINK Mobility Poland Sp. z.o.o. Customer \u20ac 3,850 PlaintiffLINK Mobility Bulgaria EAD Customer \u20ac 5,545 PlaintiffLINK Mobility GmbH Supplier \u20ac 1,000,000 PlaintiffNote 25 Events after the reporting dateOn April 01, 2025, LINK announced the acquisition of The SMS Works Ltd in the UK. This acquisition expands LINK\u2019s presence in the UK and provides additional growth opportunities.The purchase price is settled through cash upon closing.The SMS Work Ltd\u2019s lean and technology-driven operating model has attracted more than 500 customers, delivering 120 million messages annually with a solid recurring revenue base. SMS Works has a strong foothold among software integration clients with high retention rates and consistent gross profit growth.Due to the timing of this acquisition, estimates have not been made, and the purchase price allocation process will be performed during the first half of 2025.On April 14, 2025, LINK announced the acquisition of FireText Communications in the UK. This acquisition further expands LINK\u2019s presence in the UK market, particularly within the public sector and adds a scalable and robust SSU platform.The transaction values FireText at an enterprise value of GBP 9.7 million, reflecting an EV/LTM Dec-24 cash EBITDA multiple of 6.5x. The acquisition includes an earn out of GBP 2.3 million at similar valuation. The purchase price will be settled through a combination of GBP 2 million in LINK shares, a seller credit equal to 10% of the enterprise value, and the remaining amount in cash.Founded in 2007 and headquartered in Falmouth, UK, FireText Communications is a privately held A2P SSU company. It offers a proprietary SSU SMS marketing platform that currently serves approximately 2,700 customers. The company has a solid footprint within the public sector in the UK serving as an established provider for the National Health Service(NHS) and UK Government.Due to the timing of this acquisition, estimates have not been made, and the purchase price allocation process will be performed during the first half of 2025.Alternative performance measures (\u201cAPM\u2019s\u201d)The financial information in this report is prepared under International Financial Reporting Standards (IFRS), as adopted by the EU. To enhance the understanding of LINK\u2019s performance, the Group presents several alternative performance measures (\u201cAPM\u2019s\u201d). An APM is defined by the European Securities and Markets Authority (ESMA) guidelines as a financial measure of historical or future financial performance, financial position, or cash flows, other than a financial measure defined or specified in the applicable financial reporting framework (IFRS).Below, LINK presents certain APMs, including gross profit, gross margin, EBITDA, adjusted EBITDA, and adjusted EBITDA margin. APMs such as EBITDA are commonly reported by companies in the markets in which LINK competes and are widely used by investors when comparing performance on a consistent basis without regard to factors such as depreciation and amortization, which can vary significantly, depending upon accounting methods (particularly when acquisitions have occurred) or based on non-operating factors.LINK uses the following APMs:Gross ProfitGross Profit means revenues less direct costs of services rendered.Gross marginGross margin means gross profit as a percentage of total operating revenues.Adjusted EBITDA Adjusted EBITDA means EBITDA adjusted by expenses related to significant one-time, non-recurring events such as acquisitions and restructuring activities, legal advisors, and share-based compensation. LINK has presented adjusted EBITDA in the consolidated statement of profit and loss because management believes the measure provides useful information regarding operating performance.Adjusted EBITDA marginAdjusted EBITDA margin is presented as adjusted EBITDA as a percentage of total operating revenues in the respective periods.EBITDA EBITDA means earnings before interest, taxes, amortization, depreciation, and impairments. LINK has presented EBITDA in the consolidated statement of profit and loss because management believes that the measure provides useful information regarding the Group\u2019s ability to service debt and to fund capital expenditures and provides a helpful measure for comparing its operating performance with that of other companies.See below for a reconciliation of EBITDA to Adjusted EBITDA, and adjusted EBITDA margin.NOK \u2018000 2024 2023Operating profit (loss), (\u201cEBIT\u201d) 264,468 140,317 Add: Depreciation intangible assets 334,189 337,535 EBITDA 598,657 477,853 Add: Restructuring costs 38,605 29,014 Add: Share-based compensation 41,994 98,177 Add: Expenses related to acquisitions 38,713 8,078 Adjusted EBITDA 717,970 613,121 Operating revenues 6,993,807 6,282,126 Adjusted EBITDA 717,970 613,121 Adjusted EBITDA margin 10.3 % 9.8 %The figures presented above are exclusive of the US subsidiary which was under divestiture at December 31, 2023.Net debt The Group monitors Net debt according to Bond loan terms which includes interest-bearing debt and debt like arrangements. Net debt is derived from the balance sheet and consists of both current and non-current liabilities such as bond loan, other debt from financial institutions and current and non-current lease liabilities less cash and cash equivalents. Sellers credits, holdback and earn-outs are excluded as they are not interest-bearing.Net debt/LTM adjusted EBITDA LINK measures leverage ratio as Net debt/Last Twelve Months Adjusted EBITDA. The measure provides useful information about the financial position. Due to the significant M&A activity LINK uses the Last Twelve Months Proforma Adjusted EBITDA to calculate net debt to present a comparable measure over time.Below is a reconciliation of Net debt and Net debt/LTM adjusted EBITDA ratio:NOK \u2018000 2024 2023Bond loan* 3,459,281 4,112,697 Other long-term -0 -0 IFRS 16 liabilities 31,557 51,927 Seller\u2019s credit (interest bearing) -0 -0 Less cash -2,478,701 -1,108,232 Net debt 1,012,136 3,056,392 LTM adjusted EBITDA (proforma) 150,000 782,186 Net debt/LTM adjusted EBITDA 6.7 3.9 ** The bond loan presented here is converted to NOK using the average of the monthly average currency exchange rates for the last twelve months.",
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"value": "Note 2 Adoption of new and revised International Financial Reporting Standards (IFRS) A number of amended IFRS standards issued by the International Accounting Standards Board (IASB) and IFRS interpretations issued by the IFRS Interpretations Committee (IFRS IC) are effective for accounting periods commencing on or after January 01, 2024. The requirements arising from revised IFRSs or IFRIC interpretations are embedded in the recognition, measurement and disclosures relevant to the consolidated financial statements of the Group from the date of establishment. The accounting policies adopted are described in Note 3 Summary of significant accounting policies.Standards and interpretations affecting amounts reported in thecurrent periodThe accounting policies adopted, and methods of computation followed are consistent with those of the previous financial year, except for items disclosed below. The adoption of the following standards and interpretations has not had any material impact on the disclosures or on the amounts reported in these financial statements:\u2022 Amendment to IFRS 7 regarding classification and measurement of financial instrumentsAs at the date of authorisation of these financial statements, Standards and Interpretations had been issued by the IASB but were not effective for the financial year ended December 31, 2024. At the date of these financial statements, it is not foreseable that these changes will not have a material impact on the financial reporting for the Group.New or amended standards that have effective date on January 01, 2026 or later have not been assessed if these will have any impact on Link Mobility Groups financial statements in the period of initial application. Management will continue to follow the development of changes to Standards and Interpretations issued by the IASB throughout 2025.",
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"value": "Note 2 Adoption of new and revised International Financial Reporting Standards (IFRS) A number of amended IFRS standards issued by the International Accounting Standards Board (IASB) and IFRS interpretations issued by the IFRS Interpretations Committee (IFRS IC) are effective for accounting periods commencing on or after January 01, 2024. The requirements arising from revised IFRSs or IFRIC interpretations are embedded in the recognition, measurement and disclosures relevant to the consolidated financial statements of the Group from the date of establishment. The accounting policies adopted are described in Note 3 Summary of significant accounting policies.Standards and interpretations affecting amounts reported in thecurrent periodThe accounting policies adopted, and methods of computation followed are consistent with those of the previous financial year, except for items disclosed below. The adoption of the following standards and interpretations has not had any material impact on the disclosures or on the amounts reported in these financial statements:\u2022 Amendment to IFRS 7 regarding classification and measurement of financial instrumentsAs at the date of authorisation of these financial statements, Standards and Interpretations had been issued by the IASB but were not effective for the financial year ended December 31, 2024. At the date of these financial statements, it is not foreseable that these changes will not have a material impact on the financial reporting for the Group.New or amended standards that have effective date on January 01, 2026 or later have not been assessed if these will have any impact on Link Mobility Groups financial statements in the period of initial application. Management will continue to follow the development of changes to Standards and Interpretations issued by the IASB throughout 2025.",
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"value": "A number of amended IFRS standards issued by the International Accounting Standards Board (IASB) and IFRS interpretations issued by the IFRS Interpretations Committee (IFRS IC) are effective for accounting periods commencing on or after January 01, 2024. The requirements arising from revised IFRSs or IFRIC interpretations are embedded in the recognition, measurement and disclosures relevant to the consolidated financial statements of the Group from the date of establishment. The accounting policies adopted are described in Note 3 Summary of significant accounting policies.",
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"value": "Standards and interpretations affecting amounts reported in thecurrent periodThe accounting policies adopted, and methods of computation followed are consistent with those of the previous financial year, except for items disclosed below. The adoption of the following standards and interpretations has not had any material impact on the disclosures or on the amounts reported in these financial statements:\u2022 Amendment to IFRS 7 regarding classification and measurement of financial instrumentsAs at the date of authorisation of these financial statements, Standards and Interpretations had been issued by the IASB but were not effective for the financial year ended December 31, 2024. At the date of these financial statements, it is not foreseable that these changes will not have a material impact on the financial reporting for the Group.New or amended standards that have effective date on January 01, 2026 or later have not been assessed if these will have any impact on Link Mobility Groups financial statements in the period of initial application. Management will continue to follow the development of changes to Standards and Interpretations issued by the IASB throughout 2025.",
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"value": "Note 3 Summary of significant accounting policies3.1 General informationLINK Mobility Group Holding ASA is the parent company of LINK Mobility Group AS, and is headhquartered in Oslo, Norway. LINK is Europe\u2019s leading provider of mobile and CPaaS solutions specializing in messaging, digital services, and intelligent data usage.LINK Mobility Group Holding ASA (\u201cthe Company\u201d) is a limited liability company incorporated and domiciled in Norway. The address of the registered office is Gullhaug Torg 5, 0484 Oslo, Norway. LINK Mobility Group Holding ASA is the parent company of the LINK Mobility Group AS. LINK Mobility Group AS provides services in mobile communication and specialises in mobile messaging services, mobile solutions, and mobile intelligence. LINK Mobility Group Holding ASA and its subsidiaries are regarded as \u201cthe Group\u201d.These financial statements were approved for issue by the Board of Directors on date April 28, 2025. Minor rounding differences may be present, and the total may deviate from the total of the individual amounts. This is due to the rounding of whole figures to thousands for presentation purposes.3.2 Basis for preparationThe financial statements of the Group and the Company have been prepared in accordance with IFRS\u00ae Accounting Standards as adopted by the EU and the Norwegian Accounting Act. The financial statements have been prepared on the historical cost basis. The preparation of financial statements in conformity with IFRSs requires the use of certain critical accounting estimates. It also requires management to exercise its judgments in applying the Group\u2019s accounting policies. Areas involving a high degree of judgment or complexity, and areas in which assumptions and estimates are significant to the financial statements are disclosed in Note 4 Critical accounting judgements and key sources of estimation variances. The financial statements have been prepared on a going-concern basis.The presentation currency of the financial statement is Norwegian kroner (NOK). Amounts are rounded to nearest thousand, unless otherwise stated.3.3 Business combinationsBusiness combinations are accounted for using the acquisition method. The consideration transferred and all the identifiable assets and liabilities of acquired entities are, with limited exceptions measured at fair values at the date of acquisition. Acquisition-related costs are recognised in the income statement as incurred.Goodwill arising from an acquisition is recognised as an asset measured as the excess of the sum of the consideration transferred, the fair value of any previous held equity interest and the amount of any non-controlling interest in the investee over the net amounts of the identifiable assets acquired and the liabilities assumed. If, after reassessment, the Group\u2019s interest in the net fair value of the investee\u2019s identifiable assets, liabilities and contingent liabilities exceeds the total consideration of the business combination, the excess is immediately recognised in the income statement. Goodwill is allocated to each of the Group\u2019s cash-generating units (or groups of cash generating units) that is expected to benefit from the synergies of the combination. A cash-generating unit is the smallest identifiable group of assets that generate cash inflows that are largely independent of the cash inflows from other assets or group of assets. If the recoverable amount of the cash-generating unit is less than its carrying amount, the impairment loss is allocated first to reduce the carrying amount of each asset in the unit. Any impairment loss for goodwill is recognised directly in profit or loss. An impairment loss recognised for goodwill is not reversed in subsequent periods.When the consideration transferred by the Company in a business combination includes contingent consideration arrangements, the contingent consideration is measured at its acquisition date fair value and included as part of the consideration transferred in a business combination. Changes in fair value of the contingent consideration that qualify as measurement period adjustments are adjusted retrospectively, with corresponding adjustments recognised in goodwill. Measurement period adjustments arise from additional information obtained during the \u2018measurement period\u2019 (which cannot exceed one year from the acquisition date) about facts and circumstances that existed at the acquisition date. The subsequent accounting for changes in the fair value of the contingent consideration that do not qualify as measurement period adjustments depends on how the contingent consideration is classified. Contingent consideration that is classified as equity is not remeasured at subsequent reporting dates and its subsequent settlement is accounted for within equity. Other contingent consideration is remeasured to fair value at subsequent reporting dates with changes in fair value recognised in profit or loss.If the initial accounting for a business combination is incomplete by the end of the reporting period in which the combination occurs, the Group reports provisional amounts for the items for which the accounting is incomplete. Those provisional amounts are adjusted during the measurement period (see above), or additional assets or liabilities are recognised, to reflect new information obtained about facts and circumstances that existed as of the acquisition date that, if known, would have affected the amounts recognised as of that date.3.4 Current/non-current classi\ue7bccationAn asset is classified as current when it is expected to be realised, or is intended for sale or consumption, in the Group\u2019s normal operating cycle, it is expected/due to be realised or settled within next twelve month after the reporting date. The normal operating cycle for trade receivables is between 30 - 45 days. Other assets are classified as non-current. A liability is classified as current when it is expected to be settled in the Group\u2019s normal operating cycle, the liability is due to be settled within twelve months after the reporting period or if the Group does not have an unconditional right to defer settlement of the liability for at least twelve months after the reporting period. The normal operating cycle for trade payables is between 30 - 45 days. All other liabilities are classified as non-current.3.5 Revenue recognitionRevenues are recognised when services are rendered and measured based on the consideration to which the Group expects to be entitled in a contract with a customer net of discounts and sales related taxes. The Group recognises revenue when it transfers control of a product or service to a customer.When another party is involved in providing goods or services to a customer, the Group evaluates whether it has an obligation to provide the specified service itself (i.e. the Group is the principle) or to arrange for those services to be provided by the other party (i.e. the Group is the agent). Where the Group does not control the service, the Group is considered an agent in the transaction. Revenues primarily comprise sale of services that enable customers to communicate by mobile phone with their customers. To be able to render these services, the Group needs to obtain services from one or more telecommunication operators. Cost incurred that are directly related to fulfilling a specified contract with a customer are regarded as a contract fulfilment cost and are expensed in the period in which the related revenue is recognised.The services rendered are split into the following groups:Type of service Timing of recognition Measurement of revenueMobile messaging The Group provides mobile messaging services The revenue is based on the price transactionsvia SMS and other messaging channels such specified in the sales contract, net as Apps, Facebook, Messenger, WhatsApp and of discounts and value added tax.email. Revenue from messaging is recognised when the message service has been provided; when the messages are delivered to the recipient.Payment services The Group offers payment solutions where The Group acts as an agent the customer can get their customers (the end for this type of service and users) to pay for services by charging their the performance obligation mobile phone account or credit/debit card. As is to arrange for the provision payment for these services, the Group is entitled of services by another party. to remuneration related to the processed Consequently, only the income transactions/payment. Revenue is recognised from the processed transactions is when the payment service is rendered.recognised as revenue.Licences License revenue consists of revenue from The revenue is based on the price monthly fees paid by customers for access to specified in the sales contract, net Group platforms and solutions. No proprietary of discounts and value added tax.rights are transferred to the customer. The revenue is recognised throughout the duration of the license agreement.Consulting services Revenue from consulting services is recognised The revenue is based on the price in the accounting period during which the specified in the sales contract, net services are rendered.of discounts and value added tax.3.6 Foreign currency translationThe consolidated financial statements are presented in NOK, which is the functional currency of LINK Mobility Group Holding ASA. In preparing the financial statements of the individual companies, transactions in currencies other than NOK are recognised at the rate of exchange on the date of the transaction. At each reporting date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the balance sheet date. Non-monetary items carried at fair value in foreign currencies are translated using the exchange rate at the date when the fair value was measured. Non-monetary items that are measured in terms of historical cost in a foreign currency are not retranslated after the transaction date.Foreign exchange gains and losses that relate to borrowings and cash and cash equivalents are presented in the income statement as financial items. All other foreign exchange gains and losses are presented on a net basis in the income statement as other operating expenses. Exchange differences are recognised in the income statement in the period in which they arise.For the purposes of presenting consolidated financial statements, the assets and liabilities of the Group\u2019s foreign operations are translated to NOK at exchange rates on the reporting date. Income and expense items are translated to NOK at the average exchange rates for the period, unless exchange rates fluctuate significantly during that period, in which case the exchange rates at the date of transactions are used. Exchange differences arising, if any, are recognised in other comprehensive income and accumulated in a separate component of equity.Goodwill and fair value adjustments arising from the acquisition of a foreign entity are considered as assets and liabilities of the foreign entity and translated at the closing rate. These exchange differences are recognised in other comprehensive income.On the disposal of a foreign operation (i.e. a disposal of the Group\u2019s entire interest in a foreign operation), or a disposal involving loss of control over a subsidiary that includes a foreign operation, all of the exchange differences accumulated in a separate component of equity in respect of that operation attributable to the owners of the foreign operation are reclassified to the income statement. In addition, in relation to a partial disposal of a subsidiary that includes a foreign operation that does not result in the Group losing control over the subsidiary, the proportionate share of accumulated exchange differences is re-attributed to non-controlling interests and are not recognised in profit or loss.Please refer to note 21 for an overview of other functional currencies at the subsidiary level.3.7 Equipment and \ue7bcxturesEquipment and fixtures are initially recognised at cost, which includes the purchase price (including duties and non-refundable purchase taxes) and any directly attributable costs of bringing the asset to the location and condition necessary for it to be able to operate in the intended manner. Equipment and fixtures are subsequently recognised at cost less accumulated depreciation and accumulated impairment losses, if any. Depreciation is recognised using the straight-line method to reduce the cost of assets less their residual values over their useful lives. Depreciation commences when the assets are ready for their intended use.Estimated useful life, depreciation method and residual values are reviewed at least annually. The straight-line depreciation method is used as this best reflects the consumption of the assets, which often is the passage of time. Residual value is estimated to be zero for all assets. Repair and maintenance are expensed as incurred. If new parts are capitalised, replaced parts are derecognised and any remaining net carrying amount is recognised in operating profit (loss) as loss on disposal.An item of property, plant and equipment is derecognised upon disposal or when no future economic benefits are expected to arise from the continued use of the asset. The gain or loss arising on the disposal or retirement of an item of equipment and fixtures is determined as the difference between the sales proceeds and the carrying amount of the asset and is presented as other income or other expenses in the income statement.3.8 Impairment of non-\ue7bcnancial assetsAt each reporting date, the Group reviews if there are any indicators that the carrying amounts of its tangible and intangible assets may be impaired. If any such indication exists, the recoverable amount of the asset is estimated to determine the extent of the impairment loss (if any). Where the asset does not generate cash flows that are independent from other assets, the Group estimates the recoverable amount of the cash-generating unit to which the asset belongs. When a reasonable and consistent basis of allocation can be identified, corporate assets are also allocated to individual cash-generating units, or otherwise they are allocated to the smallest group of cash-generating units for which a reasonable and consistent allocation basis can be identified.Goodwill and intangible assets with an indefinite useful life are tested for impairment at least annually and whenever there is an indication that the asset may be impaired.Recoverable amount is the higher of fair value less costs of disposal and value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset for which the estimates of future cash flows have not been adjusted.If the recoverable amount of an asset (or cash-generating unit) is estimated to be less than its carrying amount, the carrying amount of the asset (or cash-generating unit) is reduced to its recoverable amount. An impairment loss is recognised immediately in the income statement.Where an impairment loss subsequently reverses, the carrying amount of the asset (or cash-generating unit) is increased to the revised estimate of its recoverable amount, but so that the increased carrying amount does not exceed the carrying amount that would have been determined had no impairment loss been recognised for the asset (or cash-generating unit) in prior years. A reversal of an impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the reversal of the impairment loss is treated as a revaluation increase. Any impairment loss recognised for goodwill is not reversed in a subsequent period.3.9 LeasesAt the inception of a contract, the company assesses whether the contract is, or contains, a lease. A contract is, or contains, a lease if the contract conveys the right to control the use of an identified asset for a period of time in exchange for consideration. The lease liability is recognized at the commencement date and measured at the present value of the remaining lease payments, discounted using the company\u2019s incremental borrowing rate at the commencement date. The lessee\u2019s incremental borrowing rate is the rate of interest that a lessee would have to pay to borrow over a similar term, and with similar security, the funds necessary to obtain an asset of a similar value of the right-of-use asset in a similar economic environment. The Group has chosen to measure the Right-of-Use asset (RoU assets) at an amount equal to the lease liability for all leases by using the lessee\u2019s incremental borrowing rate; the rate may differ from country to country. RoU assets are depreciated over the lease term as this is ordinarily shorter than the useful life of the assets. The lease term represents the non-cancellable period of the lease, together with periods covered by an option either to extend or to terminate the lease when the company is reasonably certain to exercise this option. The Group applies the exemption for short term leases (12 months or less) and low value leases. As such, related lease payments are not recognized in the balance sheet but expensed or capitalized in line with the accounting treatment for other non-lease expenses. The inclusion of non-lease components may vary across different lease categories.3.10 Financial InstrumentsFinancial assets and financial liabilities are initially measured at fair value. Transaction costs that are directly attributable to the acquisition or issue of financial assets and financial liabilities (other than financial assets and financial liabilities at fair value through profit or loss) are added to or deducted from the fair value of the financial assets or financial liabilities, as appropriate, on initial recognition. The Group has classified the financial instruments into the following categories of financial assets and liabilities: Financial assets and liabilities at fair value through profit and loss (FVTPL), financial assets at amortised cost (FAAC), financial assets at fair value through other comprehensive income (FVTOCI) and Financial liability at cost (FLAC). Currently the Group does not have any assets in the classification of FVTOCI. The categorisation of financial instruments (financial assets and liabilities) for measurement purposes is based on the nature and purpose of the financial instrument and is determined on initial recognition. The Group presents financial assets and liabilities in the following classes: trade and other receivables (FAAC), cash and cash equivalents, trade and other payables (FLAC), and borrowings (FLAC). Trade receivables and other current and non-current financial assetsThe financial assets held by the Group, primarily trade and other receivables, are held within a business model whose objective is to hold financial assets in order to collect contractual cash flows and are thus measured subsequently at amortised cost less loss allowances. The impairment model in IFRS 9 Financial Instruments requires the recognition of impairment provisions based on expected credit losses (ECL). The Group recognises an allowance for expected credit losses on trade receivables. The amount of expected credit losses is updated at each reporting date to reflect changes in credit risk since initial recognition. The impairment is calculated by taking into account the historic evidence of the level of credit losses experienced and the ageing profile of the trade receivables. Individual trade receivables are impaired when management assesses them not to be wholly or partially collectible. Cash and cash equivalentsCash and cash equivalents include cash, bank deposits and commercial papers with original maturities of three months or less. Financial liabilitiesTrade and other payables include trade payables and other current and non-current, non-interest-bearing financial liabilities. Borrowings (non-current and current) include bank loans and overdrafts. These liabilities are initially recognised in the statement of financial position at fair value (net of any transaction costs), and subsequently measured at amortised cost using the effective interest rate method.The effective interest method calculates the amortised cost of a financial liability and the allocation of interest expense over the relevant period. The effective interest rate is the rate that discounts estimated future cash payments, including all fees and points paid or received that form an integral part of the effective interest rate, transaction costs and other premiums or discounts, through the expected life of the financial liability, or (where appropriate) a shorter period, to the amortised cost of a financial liability.The Group derecognises financial liabilities when, and only when, the Group\u2019s obligations are discharged, cancelled, or have expired. The difference between the carrying amount of the financial liability derecognised, and the consideration paid and payable is recognised in profit or loss.3.11 Cash \ue7bdowThe Group presents the statement of cash flows using the indirect method. Cash inflows and outflows are shown separately for investing and financing activities, while operating activities include both cash and non-cash line items. Interest received and paid, and dividends received, are reported as a part of operating activities. Dividends distributed are included as a part of financing activities. Value Added Tax and other similar taxes are regarded as collection of tax on behalf of authorities.3.12 Employee bene\ue7bctsThe Group operates a defined contribution plan (DCP) for post-retirement benefits. A defined contribution plan is a pension plan under which the Group pays fixed contributions to a separate entity (insurance company). The Group has no legal or constructive obligations to pay further contributions to the pension plan for benefits relating to employee service in the current and prior periods. Payments to defined contribution retirement benefit plans are recognised as an expense when employees have rendered service entitling them to the contributions. Prepaid contributions are recognised as an asset to the extent that a cash refund or a reduction in the future payments is available.3.13 Taxation Income tax in the income statement includes both taxes payable for the period and the change in deferred taxes. The change in deferred taxes reflects future taxes payable resulting from the year\u2019s activities. Deferred taxes are determined based on the accumulated result, which falls due for payment in future periods. Deferred taxes are calculated on net positive timing differences between accounting and tax balance sheet values, after offsetting negative timing differences and losses carried forward under the liability method. A deferred tax asset is recognized only to the extent that it is probable that future taxable profits will be available against which the asset can be utilised. Deferred tax assets are reduced to the extent that it is no longer probable that the related tax benefit will be realized.Deferred tax assets and liabilitiesDeferred tax assets and liabilities are presented net of their respective tax effect using tax rate of the applicable jurisdiction applied to amounts representing future tax deductions or taxes payable.Negative and positive timing differences, which reverse or may reverse in the same period, are offset. Deferred taxes are calculated on the basis of timing differences and losses carried forward that are offset. Timing differences between different subsidiaries have not been offset. During the period that these differences reverse, the companies will have a taxable net income that is sufficient to realize the deferred tax allowance. The losses carried forward are all in countries where future taxable profits are expected.",
"dimensions": {
"concept": "ifrs-full:DisclosureOfSummaryOfSignificantAccountingPoliciesExplanatory",
"language": "en",
"entity": "scheme:2549006RH08XJGKC2Y14",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
}
},
"f1__s8__6__18": {
"value": "Oslo",
"dimensions": {
"concept": "ifrs-full:PrincipalPlaceOfBusiness",
"language": "en",
"entity": "scheme:2549006RH08XJGKC2Y14",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
}
},
"f1__s8__6__15": {
"value": "Norway",
"dimensions": {
"concept": "ifrs-full:DomicileOfEntity",
"language": "en",
"entity": "scheme:2549006RH08XJGKC2Y14",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
}
},
"f1__s8__6__14": {
"value": "Norway",
"dimensions": {
"concept": "ifrs-full:CountryOfIncorporation",
"language": "en",
"entity": "scheme:2549006RH08XJGKC2Y14",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
}
},
"f1__s8__6__19": {
"value": "LINK is Europe\u2019s leading provider of mobile and CPaaS solutions specializing in messaging, digital services, and intelligent data usage.",
"dimensions": {
"concept": "ifrs-full:DescriptionOfNatureOfEntitysOperationsAndPrincipalActivities",
"language": "en",
"entity": "scheme:2549006RH08XJGKC2Y14",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
}
},
"f1__s8__6__16": {
"value": "limited liability company",
"dimensions": {
"concept": "ifrs-full:LegalFormOfEntity",
"language": "en",
"entity": "scheme:2549006RH08XJGKC2Y14",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
}
},
"f1__s8__6__17": {
"value": "Gullhaug Torg 5, 0484 Oslo, Norway",
"dimensions": {
"concept": "ifrs-full:AddressOfRegisteredOfficeOfEntity",
"language": "en",
"entity": "scheme:2549006RH08XJGKC2Y14",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
}
},
"f1__s8__6__20": {
"value": "These financial statements were approved for issue by the Board of Directors on date April 28, 2025.",
"dimensions": {
"concept": "ifrs-full:DisclosureOfAuthorisationOfFinancialStatementsExplanatory",
"language": "en",
"entity": "scheme:2549006RH08XJGKC2Y14",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
}
},
"f1__s8__6__22": {
"value": "3.2 Basis for preparationThe financial statements of the Group and the Company have been prepared in accordance with IFRS\u00ae Accounting Standards as adopted by the EU and the Norwegian Accounting Act. The financial statements have been prepared on the historical cost basis. The preparation of financial statements in conformity with IFRSs requires the use of certain critical accounting estimates. It also requires management to exercise its judgments in applying the Group\u2019s accounting policies. Areas involving a high degree of judgment or complexity, and areas in which assumptions and estimates are significant to the financial statements are disclosed in Note 4 Critical accounting judgements and key sources of estimation variances. The financial statements have been prepared on a going-concern basis.The presentation currency of the financial statement is Norwegian kroner (NOK). Amounts are rounded to nearest thousand, unless otherwise stated.",
"dimensions": {
"concept": "ifrs-full:DisclosureOfBasisOfPreparationOfFinancialStatementsExplanatory",
"language": "en",
"entity": "scheme:2549006RH08XJGKC2Y14",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
}
},
"f1__s8__6__21": {
"value": "3.2 Basis for preparationThe financial statements of the Group and the Company have been prepared in accordance with IFRS\u00ae Accounting Standards as adopted by the EU and the Norwegian Accounting Act. The financial statements have been prepared on the historical cost basis. The preparation of financial statements in conformity with IFRSs requires the use of certain critical accounting estimates. It also requires management to exercise its judgments in applying the Group\u2019s accounting policies. Areas involving a high degree of judgment or complexity, and areas in which assumptions and estimates are significant to the financial statements are disclosed in Note 4 Critical accounting judgements and key sources of estimation variances. The financial statements have been prepared on a going-concern basis.The presentation currency of the financial statement is Norwegian kroner (NOK). Amounts are rounded to nearest thousand, unless otherwise stated.",
"dimensions": {
"concept": "ifrs-full:DisclosureOfGeneralInformationAboutFinancialStatementsExplanatory",
"language": "en",
"entity": "scheme:2549006RH08XJGKC2Y14",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
}
},
"f1__s8__6__24": {
"value": "3.3 Business combinationsBusiness combinations are accounted for using the acquisition method. The consideration transferred and all the identifiable assets and liabilities of acquired entities are, with limited exceptions measured at fair values at the date of acquisition. Acquisition-related costs are recognised in the income statement as incurred.Goodwill arising from an acquisition is recognised as an asset measured as the excess of the sum of the consideration transferred, the fair value of any previous held equity interest and the amount of any non-controlling interest in the investee over the net amounts of the identifiable assets acquired and the liabilities assumed. If, after reassessment, the Group\u2019s interest in the net fair value of the investee\u2019s identifiable assets, liabilities and contingent liabilities exceeds the total consideration of the business combination, the excess is immediately recognised in the income statement. Goodwill is allocated to each of the Group\u2019s cash-generating units (or groups of cash generating units) that is expected to benefit from the synergies of the combination. A cash-generating unit is the smallest identifiable group of assets that generate cash inflows that are largely independent of the cash inflows from other assets or group of assets. If the recoverable amount of the cash-generating unit is less than its carrying amount, the impairment loss is allocated first to reduce the carrying amount of each asset in the unit. Any impairment loss for goodwill is recognised directly in profit or loss. An impairment loss recognised for goodwill is not reversed in subsequent periods.When the consideration transferred by the Company in a business combination includes contingent consideration arrangements, the contingent consideration is measured at its acquisition date fair value and included as part of the consideration transferred in a business combination. Changes in fair value of the contingent consideration that qualify as measurement period adjustments are adjusted retrospectively, with corresponding adjustments recognised in goodwill. Measurement period adjustments arise from additional information obtained during the \u2018measurement period\u2019 (which cannot exceed one year from the acquisition date) about facts and circumstances that existed at the acquisition date. The subsequent accounting for changes in the fair value of the contingent consideration that do not qualify as measurement period adjustments depends on how the contingent consideration is classified. Contingent consideration that is classified as equity is not remeasured at subsequent reporting dates and its subsequent settlement is accounted for within equity. Other contingent consideration is remeasured to fair value at subsequent reporting dates with changes in fair value recognised in profit or loss.If the initial accounting for a business combination is incomplete by the end of the reporting period in which the combination occurs, the Group reports provisional amounts for the items for which the accounting is incomplete. Those provisional amounts are adjusted during the measurement period (see above), or additional assets or liabilities are recognised, to reflect new information obtained about facts and circumstances that existed as of the acquisition date that, if known, would have affected the amounts recognised as of that date.",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForBusinessCombinationsExplanatory",
"language": "en",
"entity": "scheme:2549006RH08XJGKC2Y14",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
}
},
"f1__s8__6__23": {
"value": "3.3 Business combinationsBusiness combinations are accounted for using the acquisition method. The consideration transferred and all the identifiable assets and liabilities of acquired entities are, with limited exceptions measured at fair values at the date of acquisition. Acquisition-related costs are recognised in the income statement as incurred.Goodwill arising from an acquisition is recognised as an asset measured as the excess of the sum of the consideration transferred, the fair value of any previous held equity interest and the amount of any non-controlling interest in the investee over the net amounts of the identifiable assets acquired and the liabilities assumed. If, after reassessment, the Group\u2019s interest in the net fair value of the investee\u2019s identifiable assets, liabilities and contingent liabilities exceeds the total consideration of the business combination, the excess is immediately recognised in the income statement. Goodwill is allocated to each of the Group\u2019s cash-generating units (or groups of cash generating units) that is expected to benefit from the synergies of the combination. A cash-generating unit is the smallest identifiable group of assets that generate cash inflows that are largely independent of the cash inflows from other assets or group of assets. If the recoverable amount of the cash-generating unit is less than its carrying amount, the impairment loss is allocated first to reduce the carrying amount of each asset in the unit. Any impairment loss for goodwill is recognised directly in profit or loss. An impairment loss recognised for goodwill is not reversed in subsequent periods.When the consideration transferred by the Company in a business combination includes contingent consideration arrangements, the contingent consideration is measured at its acquisition date fair value and included as part of the consideration transferred in a business combination. Changes in fair value of the contingent consideration that qualify as measurement period adjustments are adjusted retrospectively, with corresponding adjustments recognised in goodwill. Measurement period adjustments arise from additional information obtained during the \u2018measurement period\u2019 (which cannot exceed one year from the acquisition date) about facts and circumstances that existed at the acquisition date. The subsequent accounting for changes in the fair value of the contingent consideration that do not qualify as measurement period adjustments depends on how the contingent consideration is classified. Contingent consideration that is classified as equity is not remeasured at subsequent reporting dates and its subsequent settlement is accounted for within equity. Other contingent consideration is remeasured to fair value at subsequent reporting dates with changes in fair value recognised in profit or loss.If the initial accounting for a business combination is incomplete by the end of the reporting period in which the combination occurs, the Group reports provisional amounts for the items for which the accounting is incomplete. Those provisional amounts are adjusted during the measurement period (see above), or additional assets or liabilities are recognised, to reflect new information obtained about facts and circumstances that existed as of the acquisition date that, if known, would have affected the amounts recognised as of that date.",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForBusinessCombinationsAndGoodwillExplanatory",
"language": "en",
"entity": "scheme:2549006RH08XJGKC2Y14",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
}
},
"f1__s8__6__27": {
"value": "3.4 Current/non-current classi\ue7bccationAn asset is classified as current when it is expected to be realised, or is intended for sale or consumption, in the Group\u2019s normal operating cycle, it is expected/due to be realised or settled within next twelve month after the reporting date. The normal operating cycle for trade receivables is between 30 - 45 days. Other assets are classified as non-current. A liability is classified as current when it is expected to be settled in the Group\u2019s normal operating cycle, the liability is due to be settled within twelve months after the reporting period or if the Group does not have an unconditional right to defer settlement of the liability for at least twelve months after the reporting period. The normal operating cycle for trade payables is between 30 - 45 days. All other liabilities are classified as non-current.",
"dimensions": {
"concept": "ifrs-full:DisclosureOfOtherCurrentAssetsExplanatory",
"language": "en",
"entity": "scheme:2549006RH08XJGKC2Y14",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
}
},
"f1__s8__6__26": {
"value": "3.4 Current/non-current classi\ue7bccationAn asset is classified as current when it is expected to be realised, or is intended for sale or consumption, in the Group\u2019s normal operating cycle, it is expected/due to be realised or settled within next twelve month after the reporting date. The normal operating cycle for trade receivables is between 30 - 45 days. Other assets are classified as non-current. A liability is classified as current when it is expected to be settled in the Group\u2019s normal operating cycle, the liability is due to be settled within twelve months after the reporting period or if the Group does not have an unconditional right to defer settlement of the liability for at least twelve months after the reporting period. The normal operating cycle for trade payables is between 30 - 45 days. All other liabilities are classified as non-current.",
"dimensions": {
"concept": "ifrs-full:DisclosureOfOtherNoncurrentAssetsExplanatory",
"language": "en",
"entity": "scheme:2549006RH08XJGKC2Y14",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
}
},
"f1__s8__6__25": {
"value": "3.4 Current/non-current classi\ue7bccationAn asset is classified as current when it is expected to be realised, or is intended for sale or consumption, in the Group\u2019s normal operating cycle, it is expected/due to be realised or settled within next twelve month after the reporting date. The normal operating cycle for trade receivables is between 30 - 45 days. Other assets are classified as non-current. A liability is classified as current when it is expected to be settled in the Group\u2019s normal operating cycle, the liability is due to be settled within twelve months after the reporting period or if the Group does not have an unconditional right to defer settlement of the liability for at least twelve months after the reporting period. The normal operating cycle for trade payables is between 30 - 45 days. All other liabilities are classified as non-current.",
"dimensions": {
"concept": "ifrs-full:DisclosureOfOtherAssetsExplanatory",
"language": "en",
"entity": "scheme:2549006RH08XJGKC2Y14",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
}
},
"f1__s8__6__28": {
"value": "3.5 Revenue recognitionRevenues are recognised when services are rendered and measured based on the consideration to which the Group expects to be entitled in a contract with a customer net of discounts and sales related taxes. The Group recognises revenue when it transfers control of a product or service to a customer.When another party is involved in providing goods or services to a customer, the Group evaluates whether it has an obligation to provide the specified service itself (i.e. the Group is the principle) or to arrange for those services to be provided by the other party (i.e. the Group is the agent). Where the Group does not control the service, the Group is considered an agent in the transaction. Revenues primarily comprise sale of services that enable customers to communicate by mobile phone with their customers. To be able to render these services, the Group needs to obtain services from one or more telecommunication operators. Cost incurred that are directly related to fulfilling a specified contract with a customer are regarded as a contract fulfilment cost and are expensed in the period in which the related revenue is recognised.The services rendered are split into the following groups:Type of service Timing of recognition Measurement of revenueMobile messaging The Group provides mobile messaging services The revenue is based on the price transactionsvia SMS and other messaging channels such specified in the sales contract, net as Apps, Facebook, Messenger, WhatsApp and of discounts and value added tax.email. Revenue from messaging is recognised when the message service has been provided; when the messages are delivered to the recipient.Payment services The Group offers payment solutions where The Group acts as an agent the customer can get their customers (the end for this type of service and users) to pay for services by charging their the performance obligation mobile phone account or credit/debit card. As is to arrange for the provision payment for these services, the Group is entitled of services by another party. to remuneration related to the processed Consequently, only the income transactions/payment. Revenue is recognised from the processed transactions is when the payment service is rendered.recognised as revenue.Licences License revenue consists of revenue from The revenue is based on the price monthly fees paid by customers for access to specified in the sales contract, net Group platforms and solutions. No proprietary of discounts and value added tax.rights are transferred to the customer. The revenue is recognised throughout the duration of the license agreement.Consulting services Revenue from consulting services is recognised The revenue is based on the price in the accounting period during which the specified in the sales contract, net services are rendered.of discounts and value added tax.",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForRecognitionOfRevenue",
"language": "en",
"entity": "scheme:2549006RH08XJGKC2Y14",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
}
},
"f1__s8__6__29": {
"value": "3.6 Foreign currency translationThe consolidated financial statements are presented in NOK, which is the functional currency of LINK Mobility Group Holding ASA. In preparing the financial statements of the individual companies, transactions in currencies other than NOK are recognised at the rate of exchange on the date of the transaction. At each reporting date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the balance sheet date. Non-monetary items carried at fair value in foreign currencies are translated using the exchange rate at the date when the fair value was measured. Non-monetary items that are measured in terms of historical cost in a foreign currency are not retranslated after the transaction date.Foreign exchange gains and losses that relate to borrowings and cash and cash equivalents are presented in the income statement as financial items. All other foreign exchange gains and losses are presented on a net basis in the income statement as other operating expenses. Exchange differences are recognised in the income statement in the period in which they arise.For the purposes of presenting consolidated financial statements, the assets and liabilities of the Group\u2019s foreign operations are translated to NOK at exchange rates on the reporting date. Income and expense items are translated to NOK at the average exchange rates for the period, unless exchange rates fluctuate significantly during that period, in which case the exchange rates at the date of transactions are used. Exchange differences arising, if any, are recognised in other comprehensive income and accumulated in a separate component of equity.Goodwill and fair value adjustments arising from the acquisition of a foreign entity are considered as assets and liabilities of the foreign entity and translated at the closing rate. These exchange differences are recognised in other comprehensive income.On the disposal of a foreign operation (i.e. a disposal of the Group\u2019s entire interest in a foreign operation), or a disposal involving loss of control over a subsidiary that includes a foreign operation, all of the exchange differences accumulated in a separate component of equity in respect of that operation attributable to the owners of the foreign operation are reclassified to the income statement. In addition, in relation to a partial disposal of a subsidiary that includes a foreign operation that does not result in the Group losing control over the subsidiary, the proportionate share of accumulated exchange differences is re-attributed to non-controlling interests and are not recognised in profit or loss.Please refer to note 21 for an overview of other functional currencies at the subsidiary level.",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForForeignCurrencyTranslationExplanatory",
"language": "en",
"entity": "scheme:2549006RH08XJGKC2Y14",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
}
},
"f1__s8__6__31": {
"value": "3.7 Equipment and \ue7bcxturesEquipment and fixtures are initially recognised at cost, which includes the purchase price (including duties and non-refundable purchase taxes) and any directly attributable costs of bringing the asset to the location and condition necessary for it to be able to operate in the intended manner. Equipment and fixtures are subsequently recognised at cost less accumulated depreciation and accumulated impairment losses, if any. Depreciation is recognised using the straight-line method to reduce the cost of assets less their residual values over their useful lives. Depreciation commences when the assets are ready for their intended use.Estimated useful life, depreciation method and residual values are reviewed at least annually. The straight-line depreciation method is used as this best reflects the consumption of the assets, which often is the passage of time. Residual value is estimated to be zero for all assets. Repair and maintenance are expensed as incurred. If new parts are capitalised, replaced parts are derecognised and any remaining net carrying amount is recognised in operating profit (loss) as loss on disposal.An item of property, plant and equipment is derecognised upon disposal or when no future economic benefits are expected to arise from the continued use of the asset. The gain or loss arising on the disposal or retirement of an item of equipment and fixtures is determined as the difference between the sales proceeds and the carrying amount of the asset and is presented as other income or other expenses in the income statement.",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForImpairmentOfAssetsExplanatory",
"language": "en",
"entity": "scheme:2549006RH08XJGKC2Y14",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
}
},
"f1__s8__6__30": {
"value": "3.7 Equipment and \ue7bcxturesEquipment and fixtures are initially recognised at cost, which includes the purchase price (including duties and non-refundable purchase taxes) and any directly attributable costs of bringing the asset to the location and condition necessary for it to be able to operate in the intended manner. Equipment and fixtures are subsequently recognised at cost less accumulated depreciation and accumulated impairment losses, if any. Depreciation is recognised using the straight-line method to reduce the cost of assets less their residual values over their useful lives. Depreciation commences when the assets are ready for their intended use.Estimated useful life, depreciation method and residual values are reviewed at least annually. The straight-line depreciation method is used as this best reflects the consumption of the assets, which often is the passage of time. Residual value is estimated to be zero for all assets. Repair and maintenance are expensed as incurred. If new parts are capitalised, replaced parts are derecognised and any remaining net carrying amount is recognised in operating profit (loss) as loss on disposal.An item of property, plant and equipment is derecognised upon disposal or when no future economic benefits are expected to arise from the continued use of the asset. The gain or loss arising on the disposal or retirement of an item of equipment and fixtures is determined as the difference between the sales proceeds and the carrying amount of the asset and is presented as other income or other expenses in the income statement.",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForPropertyPlantAndEquipmentExplanatory",
"language": "en",
"entity": "scheme:2549006RH08XJGKC2Y14",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
}
},
"f1__s8__6__32": {
"value": "3.8 Impairment of non-\ue7bcnancial assetsAt each reporting date, the Group reviews if there are any indicators that the carrying amounts of its tangible and intangible assets may be impaired. If any such indication exists, the recoverable amount of the asset is estimated to determine the extent of the impairment loss (if any). Where the asset does not generate cash flows that are independent from other assets, the Group estimates the recoverable amount of the cash-generating unit to which the asset belongs. When a reasonable and consistent basis of allocation can be identified, corporate assets are also allocated to individual cash-generating units, or otherwise they are allocated to the smallest group of cash-generating units for which a reasonable and consistent allocation basis can be identified.Goodwill and intangible assets with an indefinite useful life are tested for impairment at least annually and whenever there is an indication that the asset may be impaired.Recoverable amount is the higher of fair value less costs of disposal and value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset for which the estimates of future cash flows have not been adjusted.If the recoverable amount of an asset (or cash-generating unit) is estimated to be less than its carrying amount, the carrying amount of the asset (or cash-generating unit) is reduced to its recoverable amount. An impairment loss is recognised immediately in the income statement.Where an impairment loss subsequently reverses, the carrying amount of the asset (or cash-generating unit) is increased to the revised estimate of its recoverable amount, but so that the increased carrying amount does not exceed the carrying amount that would have been determined had no impairment loss been recognised for the asset (or cash-generating unit) in prior years. A reversal of an impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the reversal of the impairment loss is treated as a revaluation increase. Any impairment loss recognised for goodwill is not reversed in a subsequent period.",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForImpairmentOfNonfinancialAssetsExplanatory",
"language": "en",
"entity": "scheme:2549006RH08XJGKC2Y14",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
}
},
"f1__s8__6__33": {
"value": "3.9 LeasesAt the inception of a contract, the company assesses whether the contract is, or contains, a lease. A contract is, or contains, a lease if the contract conveys the right to control the use of an identified asset for a period of time in exchange for consideration. The lease liability is recognized at the commencement date and measured at the present value of the remaining lease payments, discounted using the company\u2019s incremental borrowing rate at the commencement date. The lessee\u2019s incremental borrowing rate is the rate of interest that a lessee would have to pay to borrow over a similar term, and with similar security, the funds necessary to obtain an asset of a similar value of the right-of-use asset in a similar economic environment. The Group has chosen to measure the Right-of-Use asset (RoU assets) at an amount equal to the lease liability for all leases by using the lessee\u2019s incremental borrowing rate; the rate may differ from country to country. RoU assets are depreciated over the lease term as this is ordinarily shorter than the useful life of the assets. The lease term represents the non-cancellable period of the lease, together with periods covered by an option either to extend or to terminate the lease when the company is reasonably certain to exercise this option. The Group applies the exemption for short term leases (12 months or less) and low value leases. As such, related lease payments are not recognized in the balance sheet but expensed or capitalized in line with the accounting treatment for other non-lease expenses. The inclusion of non-lease components may vary across different lease categories.",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForLeasesExplanatory",
"language": "en",
"entity": "scheme:2549006RH08XJGKC2Y14",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
}
},
"f1__s8__6__34": {
"value": "3.10 Financial InstrumentsFinancial assets and financial liabilities are initially measured at fair value. Transaction costs that are directly attributable to the acquisition or issue of financial assets and financial liabilities (other than financial assets and financial liabilities at fair value through profit or loss) are added to or deducted from the fair value of the financial assets or financial liabilities, as appropriate, on initial recognition. The Group has classified the financial instruments into the following categories of financial assets and liabilities: Financial assets and liabilities at fair value through profit and loss (FVTPL), financial assets at amortised cost (FAAC), financial assets at fair value through other comprehensive income (FVTOCI) and Financial liability at cost (FLAC). Currently the Group does not have any assets in the classification of FVTOCI. The categorisation of financial instruments (financial assets and liabilities) for measurement purposes is based on the nature and purpose of the financial instrument and is determined on initial recognition. The Group presents financial assets and liabilities in the following classes: trade and other receivables (FAAC), cash and cash equivalents, trade and other payables (FLAC), and borrowings (FLAC). Trade receivables and other current and non-current financial assetsThe financial assets held by the Group, primarily trade and other receivables, are held within a business model whose objective is to hold financial assets in order to collect contractual cash flows and are thus measured subsequently at amortised cost less loss allowances. The impairment model in IFRS 9 Financial Instruments requires the recognition of impairment provisions based on expected credit losses (ECL). The Group recognises an allowance for expected credit losses on trade receivables. The amount of expected credit losses is updated at each reporting date to reflect changes in credit risk since initial recognition. The impairment is calculated by taking into account the historic evidence of the level of credit losses experienced and the ageing profile of the trade receivables. Individual trade receivables are impaired when management assesses them not to be wholly or partially collectible. Cash and cash equivalentsCash and cash equivalents include cash, bank deposits and commercial papers with original maturities of three months or less. Financial liabilitiesTrade and other payables include trade payables and other current and non-current, non-interest-bearing financial liabilities. Borrowings (non-current and current) include bank loans and overdrafts. These liabilities are initially recognised in the statement of financial position at fair value (net of any transaction costs), and subsequently measured at amortised cost using the effective interest rate method.The effective interest method calculates the amortised cost of a financial liability and the allocation of interest expense over the relevant period. The effective interest rate is the rate that discounts estimated future cash payments, including all fees and points paid or received that form an integral part of the effective interest rate, transaction costs and other premiums or discounts, through the expected life of the financial liability, or (where appropriate) a shorter period, to the amortised cost of a financial liability.The Group derecognises financial liabilities when, and only when, the Group\u2019s obligations are discharged, cancelled, or have expired. The difference between the carrying amount of the financial liability derecognised, and the consideration paid and payable is recognised in profit or loss.",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForFinancialInstrumentsExplanatory",
"language": "en",
"entity": "scheme:2549006RH08XJGKC2Y14",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
}
},
"f1__s8__6__35": {
"value": "3.11 Cash \ue7bdowThe Group presents the statement of cash flows using the indirect method. Cash inflows and outflows are shown separately for investing and financing activities, while operating activities include both cash and non-cash line items. Interest received and paid, and dividends received, are reported as a part of operating activities. Dividends distributed are included as a part of financing activities. Value Added Tax and other similar taxes are regarded as collection of tax on behalf of authorities.",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForCashFlowsExplanatory",
"language": "en",
"entity": "scheme:2549006RH08XJGKC2Y14",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
}
},
"f1__s8__6__36": {
"value": "3.12 Employee bene\ue7bctsThe Group operates a defined contribution plan (DCP) for post-retirement benefits. A defined contribution plan is a pension plan under which the Group pays fixed contributions to a separate entity (insurance company). The Group has no legal or constructive obligations to pay further contributions to the pension plan for benefits relating to employee service in the current and prior periods. Payments to defined contribution retirement benefit plans are recognised as an expense when employees have rendered service entitling them to the contributions. Prepaid contributions are recognised as an asset to the extent that a cash refund or a reduction in the future payments is available.",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForEmployeeBenefitsExplanatory",
"language": "en",
"entity": "scheme:2549006RH08XJGKC2Y14",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
}
},
"f1__s8__6__38": {
"value": "3.13 Taxation Income tax in the income statement includes both taxes payable for the period and the change in deferred taxes. The change in deferred taxes reflects future taxes payable resulting from the year\u2019s activities. Deferred taxes are determined based on the accumulated result, which falls due for payment in future periods. Deferred taxes are calculated on net positive timing differences between accounting and tax balance sheet values, after offsetting negative timing differences and losses carried forward under the liability method. A deferred tax asset is recognized only to the extent that it is probable that future taxable profits will be available against which the asset can be utilised. Deferred tax assets are reduced to the extent that it is no longer probable that the related tax benefit will be realized.Deferred tax assets and liabilitiesDeferred tax assets and liabilities are presented net of their respective tax effect using tax rate of the applicable jurisdiction applied to amounts representing future tax deductions or taxes payable.Negative and positive timing differences, which reverse or may reverse in the same period, are offset. Deferred taxes are calculated on the basis of timing differences and losses carried forward that are offset. Timing differences between different subsidiaries have not been offset. During the period that these differences reverse, the companies will have a taxable net income that is sufficient to realize the deferred tax allowance. The losses carried forward are all in countries where future taxable profits are expected.",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForDeferredIncomeTaxExplanatory",
"language": "en",
"entity": "scheme:2549006RH08XJGKC2Y14",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
}
},
"f1__s8__6__37": {
"value": "3.13 Taxation Income tax in the income statement includes both taxes payable for the period and the change in deferred taxes. The change in deferred taxes reflects future taxes payable resulting from the year\u2019s activities. Deferred taxes are determined based on the accumulated result, which falls due for payment in future periods. Deferred taxes are calculated on net positive timing differences between accounting and tax balance sheet values, after offsetting negative timing differences and losses carried forward under the liability method. A deferred tax asset is recognized only to the extent that it is probable that future taxable profits will be available against which the asset can be utilised. Deferred tax assets are reduced to the extent that it is no longer probable that the related tax benefit will be realized.Deferred tax assets and liabilitiesDeferred tax assets and liabilities are presented net of their respective tax effect using tax rate of the applicable jurisdiction applied to amounts representing future tax deductions or taxes payable.Negative and positive timing differences, which reverse or may reverse in the same period, are offset. Deferred taxes are calculated on the basis of timing differences and losses carried forward that are offset. Timing differences between different subsidiaries have not been offset. During the period that these differences reverse, the companies will have a taxable net income that is sufficient to realize the deferred tax allowance. The losses carried forward are all in countries where future taxable profits are expected.",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForIncomeTaxExplanatory",
"language": "en",
"entity": "scheme:2549006RH08XJGKC2Y14",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
}
},
"f1__s8__6__39": {
"value": "Note 4 Critical accounting judgements and key sources of estimation variancesIn the application of the Group\u2019s accounting policies, as described in note 3 (summary of significant accounting policies), management is required to make judgements, estimates and assumptions that affect the reported amounts of assets and liabilities, income and expenses. Estimates and judgements are evaluated on an ongoing basis and are based on historical experience and other factors, including expectations of future events that are considered to be relevant. Future events may cause these estimates to change and actual results may differ from these estimates. Estimates and underlying assumptions are reviewed on an ongoing basis. Changes in accounting estimates are recognised in the period when the changes occurred, if they apply to that period. If the changes also apply to future periods, the effect will be distributed between the current period and future periods.Estimated impairment of goodwill and other intangible assetsThe carrying amounts of non-current tangible and intangible assets are assessed by means of impairment tests whenever there is an indication of impairment. Any impairment of goodwill is assessed at least annually. The recoverable amounts of cash-generating units have been determined based on value-in-use calculations. These calculations require management to estimate the future cash flows expected to arise from the cash-generating unit and a suitable discount rate in order to calculate present value. Please refer to notes 3 (summary of significant accounting policies) and 13 (intangible assets) for further details related to the impairment testing methodology and results.",
"dimensions": {
"concept": "ifrs-full:DisclosureOfAccountingJudgementsAndEstimatesExplanatory",
"language": "en",
"entity": "scheme:2549006RH08XJGKC2Y14",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
}
},
"f1__s8__6__40-1": {
"value": "Estimated impairment of goodwill and other intangible assetsThe carrying amounts of non-current tangible and intangible assets are assessed by means of impairment tests whenever there is an indication of impairment. Any impairment of goodwill is assessed at least annually. The recoverable amounts of cash-generating units have been determined based on value-in-use calculations. These calculations require management to estimate the future cash flows expected to arise from the cash-generating unit and a suitable discount rate in order to calculate present value. Please refer to notes 3 (summary of significant accounting policies) and 13 (intangible assets) for further details related to the impairment testing methodology and results.Note 14 Intangible assets (Amounts in NOK 1000)Goodwill and intangible assets acquired in a business combination are recognised initially as set out in note 3, section 3.3, Business Combinations.Amortisation of intangible assets are based on the following estimated useful lives:Goodwill IndefiniteTradename 25 yearsCustomer relations/contracts 7-10 yearsTechnology 3-10 yearsGoodwill is not amortised but is reviewed for impairment at least annually, or more frequently when there is an indication that the cash-generating unit to which goodwill has been allocated, may be impaired. Goodwill is allocated to each of the Group\u2019s cash-generating units (or groups of cash-generating units) expected to benefit from the synergies of the combination. If the recoverable amount of the cash-generating unit is less than the carrying amount of the unit, the impairment loss is allocated first to reduce the carrying amount of any goodwill allocated to the unit and then to the other assets of the unit pro-rata on the basis of the carrying amount of each asset in the unit. An impairment loss recognised for goodwill is not reversed in a subsequent period. On disposal of a cash generating unit, the attributable amount of goodwill is included in the determination of the gain or loss on disposal in the income statement.Intangible assets acquired in a business combination and recognised separately from goodwill, such as tradename and customer relations are recognised initially at their fair value at the acquisition date (which is regarded as their cost).Subsequent to initial recognition, intangible assets acquired in a business combination are reported at cost less accumulated amortisation and accumulated impairment losses. Amortisation is recognised on a straight-line basis over their estimated useful lives. The estimated useful life and amortisation method are reviewed at the end of each reporting period, with the effect of any changes in estimate being accounted for on a prospective basis. Intangible assets with indefinite useful lives are carried at cost less accumulated impairment losses.Separately acquired intangible assetsIntangible assets with finite useful lives such as technology, that are acquired separately are carried at cost less accumulated amortisation and accumulated impairment losses. Subsequent to initial recognition, separately acquired intangible assets are reported at cost less accumulated amortisation and accumulated impairment losses, on the same basis as intangible assets that are acquired in a business combination.Internally generated intangible assets \u2013 TechnologyExpenditure on development activities is recognised as an expense in the period in which it is incurred. An internally generated intangible asset arising from development of the Group\u2019s technical platforms and products is recognised if, and only if, all the following conditions have been demonstrated:\u2022 the technical feasibility of completing the intangible asset so that it will be available for use or sale; \u2022 the intention to complete the intangible asset and use or sell it; \u2022 the ability to use or sell the intangible asset; \u2022 how the intangible asset will generate probable future economic benefits; \u2022 the availability of adequate technical, financial and other resources to complete the development and to use or sell the intangible asset; and\u2022 the ability to measure reliably the expenditure attributable to the intangible asset during its development.The amount initially recognised for internally generated intangible assets is the sum of the expenditure incurred from the date when the intangible asset first meets the recognition criteria listed above. Where no internally generated intangible asset can be recognised, development expenditures are expensed as incurred.Subsequent to initial recognition, internally-generated intangible assets are reported at cost less accumulated amortisation and accumulated impairment losses, on the same basis as intangible assets that are acquired in a business combination.In FY2024, as in the prior year, internally generated intangible asset investment has been focussed on increasing the CPaaS offering. Investment is in line with the LINK strategy to expand from one-way communication services into a global leader in the CPaaS industry. MyLINK Connect and MyLINK MarketingPlatform are two examples of internally generated intangible assets. SSU also contributes to this category and combined, all contribute to the CPaaS offering. Expenditure on development activities is recognised as an expense in the period in which it is incurred. An internally generated intangible asset arising from development of the Group\u2019s technical platforms and products is recognised if, and only if, all the following conditions have been demonstrated: Customer Year ended December 31, 2023 Trade name relations Technology Goodwill Total Opening net book value 281,931 1,737,970 909,601 5,788,277 8,717,780 Effect of discontinued operations - -939,848 -139,521 -1,714,886 -2,794,255 Net additions from acquired - - - - - businesses Additions in period - 10,089 105,899 - 115,988 Exchange differences 603 81,909 37,404 315,479 435,396 Amortization charge -13,209 -146,211 -153,017 - -312,437 Closing net book amount 269,326 743,910 760,365 4,388,870 6,162,471 Closing net book amount - 827,341 173,477 1,713,079 2,713,897 (assets held for sale) At December 31, 2023 Cost 339,344 1,539,095 1,378,263 4,569,230 7,825,933 Accumulated amortisation and -70,019 -795,186 - 617,898 -180,360 -1,663,462 impairment Net book amount 269,326 743,910 760,365 4,388,870 6,162,471 Estimated useful life 25 years 7-10 years 3-10 years Indefinite Amortisation method Linear Linear Linear Customer Year ended December 31, 2024 Trade name relations Technology Goodwill Total Opening net book value 269,326 743,910 760,365 4,388,870 6,162,471 Net additions from acquired 9,977 77,650 21,890 113,232 222,749 businesses Additions in period -38 -451 141,752 - 141,263 Exchange differences 443 27,393 19,911 171,012 218,758 Amortization charge -13,209 -149,192 -147,608 - -310,009 Closing net book amount 266,498 699,309 796,311 4,673,114 6,435,233 At December 31, 2024 Cost 349,090 1,894,983 1,568,928 4,853,474 8,666,475 Accumulated amortisation and -82,591 -1,195,674 -772,617 -180,360 -2,231,243 impairment Net book amount 266,498 699,309 796,311 4,673,114 6,435,233 Estimated useful life 25 years 7-10 years 3-10 years Indefinite Amortisation method Linear Linear Linear Trade nameThe LINK name was established in 2008 and has become a known name within the mobile solutions industry. The estimated useful life is determined to be 25 years and is amortised accordingly. The trade name has not been allocated to specific CGUs.Customer RelationshipsFor customer relationships identified and recognised through business combinations, the amortisation period is estimated to be between 7-10 years. The amortisation period is based on an analysis of customer churn and the remaining useful life of the customer relationships recogonised in the balance sheet.TechnologyAmortisation of capital expenditure for the development of Group technology is between 3-10 years. For technology acquired through business combinations, the amortisation period is between 7-10 years based on an evalution of the technological solution.GoodwillGoodwill generated from business combinations is primarily related to anticipated growth prospects for the acquired businesses. Impairment testGoodwill and other intangible assets with an indefinite useful life (i.e. trade name) are not amortised. They are tested for impairment on an annual basis at a cash generating unit (hereafter \u201cCGU\u201d) level, and more frequently if there are indications that amounts may be impaired. In accordance with IAS 36 - Impairment of Assets, the carrying amount of the CGU to which goodwill has been allocated is compared with the recoverable amount of the CGU. The recoverable amount is determined based on value-in-use calculations. These calculations use cash flow projections reflective of management\u2019s best estimate extended over a five year period. The assumed growth rate has been based on the management growth estimate for the next five years and subsequently reduced to 2% for the purpose of determining the terminal value. As terminal value is applied to revenue and COGS, the gross margin percentage holds stable after the 5-year forecast period; the same is true for EBIDTA margin percentage and EBIT percentage.Certain key assumptions are:Low Range High RangePre-tax discount rates (WACC) 7.00% 14.90%Revenue growth 5.00% 25.00%Gross Margin % 9.00% 45.60%EBITDA Margin % 5.50% 33.00%Total impairment headroom is NOK 6 867 million (NOK 7 759 million). Development of WACC discount rates over the past two years have contributed to reduced impairment headroom overall.The Group, based on an assessment of the facts and circumstances, has concluded that each country constitutes a separate CGU. Goodwill is monitored at the country level for impairment purposes. Goodwill has been allocated to each CGU as presented in the table below. Goodwill2024 2023Norway* 806,490 806,490 Sweden 213,251 209,874 Denmark 353,460 337,056 Finland 247,895 235,391 Germany* 821,001 782,405 Spain 100,039 26,378 Poland 321,532 301,861 Bulgaria 73,212 69,770 France* 466,685 444,746 Switzerland 218,399 211,548 Italy 299,037 284,896 Austria* 534,141 509,030 United Kingdom 27,731 7,513 Hungary 14,954 15,313 Netherlands 153,830 146,598 Portugal 21,457 - Total 4,673,114 4,388,870 Total (held for sale) - 1,713,079 * These CGU\u2019s are deemed significant.Key assumptions specific to significant CGU\u2019s (see below) are:Norway GermanyLow Range High Range Low Range High RangePre-tax discount rates (WACC) 10.10% 10.10% 9.40% 9.40%Revenue growth 15.00% 20.00% 11.00% 12.00%Gross Margin % 31.00% 32.00% 18.00% 19.00%EBITDA Margin % 21.00% 23.50% 11.00% 13.30%France AustriaLow Range High Range Low Range High RangePre-tax discount rates (WACC) 10.50% 10.50% 9.70% 9.70%Revenue growth 10.00% 15.70% 10.00% 10.00%Gross Margin % 25.00% 25.00% 43.00% 44.00%EBITDA Margin % 14.00% 15.00% 29.00% 31.00%The impairment test shows that the recoverable amounts significantly exceed the carrying amount of the CGUs.Sensitivity analysisIn connection with the impairment testing of intangible assets, a sensitivity analysis has been performed. The sensitivity analysis uses terminal growth of 2% after five years. The estimates used to determine future cash flows and WACC when calculating value in use are subject to uncertainty. The assumptions are described as follows:Budgeted period - The basis for the projection of the future cash flows estimated is based on the financial budget of one year. The budget in combination with the forecasts represent management\u2019s best estimate of the rance of economic conditions that will exist over a five-year period. The forecasted years are estimated based on the company\u2019s strategic initiatives.Local currency and Fx rates - All CGU\u2019s forecasted projections are done using NOK.Terminal value - terminal value is calculated using the Gordon growth formula based on previous year cash-flow, user-specified long-term growth and WACC for the specific CGU.WACC - future cash flows are discounted to present value using a discounted rate based on a calculation of a weighted average cost of capital (WACC). The pre-tax WACC is based on an average interest rate adjusted for each CGU.Management have concluded that no forseable change in any of the key assumptions used in the impairment test would cause the carrying amounts of the cash-generating units with significant goodwill to exceed recoverable amounts.",
"dimensions": {
"concept": "ifrs-full:DisclosureOfImpairmentOfAssetsExplanatory",
"language": "en",
"entity": "scheme:2549006RH08XJGKC2Y14",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
}
},
"f1__s8__6__41": {
"value": "Note 5 Discontinued operationsOperations presented as discontinued operations include Message Broadcast LLC. LINK signed a sales and purchase agreement (SPA) on November 07, 2023; the divestment of Message Broadcast LLC (US subsidiary) was closed on January 03, 2024.Discontinued operationsDiscontinued operations represent a separate major line of business that has been disposed. Discontinued operations are excluded from the results of continuing operations and are presented as a single line, after tax, in the consolidated statement of profit and loss. Discontinued operations are also excluded from segment reporting (note 6); it was previously included as it\u2019s own segment (North America). The profit (loss) of the disposed entity is presented as discontinued operations until disposal, and subsequent adjustments are presented in the following table:Statement of profit and loss from discontinued operations:(Amounts in NOK 1 000) 2024 2023Total revenue - 398,683 Gross profit - 317, 354 Payroll and related expenses - -91,684 Other operating expenses - -72,978 Depreciation and amortization - -24,857 Operating profit (loss) - 127,835 Finance income (expense) - -49,576 Profit (loss) before income tax - 78,259 Income tax - 162 Profit (loss) from Message Broadcast LLC - 78,096 The figures presented above are only representative of the US subsidiary. As a result of the disposal, related expenses are also classified in the discontinued operations line item in the consolidated income statement.(Amounts in NOK 1 000) 2024 2023Profit (loss) from Message Broadcast LLC - 78,096 Currency option premium - -12,573 Legal fees - -5,904 Excess value amortization, management fee, and intercompany loan interest - -55,923 Profit (loss) from discontinued operations before income tax - 3,697 Income tax 25,229 Income tax expense related to disposal -60,706 - Gain on disposal 144,731 - Profit (loss) from discontinued operations 84,025 28,926 The currency option premium is representative of costs incurred to secure a EUR call option (EUR/USD).The accumulated amounts for discontinued operations recognized in other comprehensive income (OCI) within equity are as follows:(Amounts in NOK 1 000) 2024 2022Accumulated currency translation effects - -104,650 Accumulated currency translation effects related to equity and excess values have flowed through the profit and loss in Q1 2024.The divestment of Message Broadcast LLC (US subsidiary) was closed on January 03, 2024. The amount of the transaction is USD 260 million, including a seller note of USD 10 million and an earn-out component of up to USD 30 million. The earnout is linear from USD 7.5 million, increasing with revenue growth to match historic Message Broadcast LLC performance for full payout. (Amounts in NOK 1 000) 2024Consideration received or receivable Cash* 2,223,629 Fair value of contingent consideration 387,549 Total disposal consideration 2,611,178 Carrying amount of net assets sold 2,534,684 Gain on sale before income tax and reclassification of foreign currency 76,493 translation reserve Reclassification of foreign currency translation reserve 197,071 Income tax expense on gain -60,706 Gain on sale after income tax 212,859 Fair value adjustment of contingent consideration, December 31 -128,834 Gain on sale as of December 31 84,025 * The amount presented here is representative of the cash amount received upon close of the SPA.If operations of the discontinued operation achieve certain performance criteria during the period January 01, 2024 to December 31, 2024, as specified in an earn-out clause in the SPA, additional cash consideration of up to USD 30 million will be receivable. The earn-out will be recognized as a financial asset at fair value through the profit or loss.At the beginning of the year, an earn-out accrual for USD 27 million was made based on estimated performance for FY2024. Based on actual performance in Message Broadcast at the end of FY2024, the estimated earn-out has been revised to USD 14.7 million. The reduction is presented in the table above as fair value adjustment of contingent consideration.The carrying amounts of assets and liabilities as at the date of sale (January 03, 2024) were:(Amounts in NOK 1 000) 2024 Goodwill 1,689,345 Other intangible assets 867,678 Total current assets held as available for sale* 2,557,023 * The amounts presented are held in LINK Mobility Group Holding ASA as excess values. Other amounts held in the US subsidiary are included in the total amount presented as current assets held as available for sale in the consolidated statement of financial position.",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForDiscontinuedOperationsExplanatory",
"language": "en",
"entity": "scheme:2549006RH08XJGKC2Y14",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
}
},
"f1__s8__6__42": {
"value": "Note 6 Business combinationsAcquisitions during the periodProportion of Main business Date of business voting equity Acquiring 2024activitycombinationacquiredentityCuriosity Layer \u2013 Investiga\u00e7\u00e3o Provider of mobile LINK e Comunica\u00e7\u00e3o Lda. (hereafter messaging services May 28, 2024 100%Mobility EZ4U)and mobile solutionsSpain SLUProvider of mobile LINK Net Real Solutions S.L. messaging services September 24, 2024 100%Mobility (hereafter NRS)and mobile solutionsSpain SLUProvider of mobile LINK Reach-Data Ltd.messaging services October 30, 2024 100%Mobility UK (hereafter Reach)and mobile solutionsLimitedAcquisition of EZ4UOn May 28, 2024, LINK Mobility Spain SLU acquired the Portuguese company EZ4U. The acquisition expands LINK\u2019s geographical reach in Europe to Portugal and offers numerous upselling opportunities through superior local customer success services in Portuguese.The purchase price is cash upon closing and includes and earn-out of up to EUR 2 million.EZ4U was founded in 2010 and is headquartered in Porto. The company is dedicated to enterprise messaging with focus on SMS, RCS, WhatsApp, email, IVR and chatbots. EZ4U\u2019s software platform and APIs facilitate seamless communications between businesses and customers, serving more than 500 clients across such diverse sectors as healthcare, transportation and retail.Acquisition of NRSOn September 24, 2024, LINK Mobility Spain SLU acquired NRS, headquartered in Catellon, Spain. This acquisition expands LINK\u2019s geographical reach in Europe and unlocks opportunities in Latin America, where NRS has a significant market share.The purchase price is cash upon closing and includes an earn-out of up to EUR 1 million.NRS, founded in 2001, specializes in SMS marketing, email marketing, and voice services, catering to sectors such as finance, retail, technology, and services among others. Last year, NRS sent over 2 billion SMS messages globally. In addition to offering operational and automated multi-channel communications, the company advises B2C, B2B companies, and startups on designing marketing and omnichannel communication strategies.Acquisition of ReachOn October 30, 2024, LINK Mobility UK Limited acquired Reach, headquartered in Doncaster, United Kingdom. This acquisition strengthens LINK\u2019s foothold in the UK market.The purchase price is cash upon closing.Reach was founded in 2002 and provides businesses with direct global communication routes. The company has specialized in cost-effective SMS marketing solutions by leveraging their user-friendly, bulk SMS messaging, platform.Revenue and net profit, in the period from the date of acquisition until December 31, 2024:(Amounts in NOK 1 000) EZ4U NRS ReachRevenue 14,935 34,983 15,659 EBITDA 4,799 5,563 712 Net profit 4,850 2,778 684 Estimated revenue and net profit, as if the acquisition had occurred January 01, 2024:(Amounts in NOK 1 000) EZ4U NRS ReachRevenue 23,400 123,878 87,377 EBITDA 6,678 15,547 7,446 If the acquisition had occurred on January 01, 2024, consolidated pro-forma revenue and EBITDA for the year ended December 31, 2024 would have been NOK 7 162 576 thousand and NOK 736 369 thousand, respectively. These amounts have been calculated using the subsidiary\u2019s results and adjusting them for: - differences in the accounting policies between the group and subsidiary - effects of updated business plans, including synergies - any errors identified in prior periods Proforma net profit is not provided in the table above and as if the acquisition had occurred on January 01, 2024. The difference between EBIDTA and net profit is not deemed to be material.Consideration transferred(Amounts in NOK 1 000) EZ4U NRS ReachCash 39,459 116,206 57,565 Earn-out \u00b9) 17,111 12,095 - Total consideration 56,570 128,301 57,565 \u00b9 Earn-outThe purchase price of EZ4U includes an earn-out payment (up to EUR 2 million) based on financial performance at the end of FY2024.The purchase price of NRS includes an earn-out payment (up to EUR 1 million) based on financial performance at the end of FY2024.Identi\ue7bcable assets and liabilities recognised on the date of the business combination EZ4UAssets assumed in connection with the business combinations have been recognised at the estimated fair value on the date of the business combination. Management has identified customer relationships as the major asset.NRSAssets assumed in connection with the business combinations have been recognised at the estimated fair value on the date of the business combination. Management has identified customer relationships, technology, and trademark as major assets.ReachAssets assumed in connection with the business combinations have been recognised at the estimated fair value on the date of the business combination. Management has identified customer relationships as the major asset.Note that the estimates are provisional and may be subject to change during the measurement period, which is one year from the date of the acquisition.(Amounts in NOK 1 000) EZ4U NRS ReachCustomer relationships 34,020 13,137 30,493 Technology - 21,666 - Trademark 216 9,931 - Equipment and fixtures 103 1,320 142 Other non-current assets 18 46 Trade and other receivables 1,526 22,585 10,459 Cash and cash equivalents 9,776 9,639 20,384 Deferred tax liability -7,144 -11,598 -6,431 Trade and other payables -2,696 -11,333 -16,968 Fair value of identifiable net assets acquired 35,819 55,393 38,079 Goodwill(Amounts in NOK 1 000) EZ4U NRS ReachConsideration transferred 56,570 128,301 57,565 Fair value of identifiable net assets acquired 35,819 55,393 38,079 Goodwill 20,751 72,908 19,487 Goodwill originating from the business combination is primarily related to anticipated synergies from ongoing operations and the benefit of integrating the entire business into the group. No impairment has been recognised subsequent to the business combination.Goodwill that has arisen as part of the business acquisition is not tax deductible. (Amounts in NOK 1 000) EZ4U NRS ReachIncurred 2024 1,343 6,104 3,393 Total 1,343 6,104 3,393 Identi\ue7bcable assets and liabilities recognised on the date of the business combinationAssets assumed in connection with the business combinations have been recognised at the estimated fair value on the date of the business combination. Management has identified technology and customer relations as major assets.Note that the estimates are provisional and may be subject to change during the measurement period, which is one year from the date of the acquisition.",
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"value": "Note 7 Segment reporting(Amounts in NOK 1000)Beginning in the first quarter 2024, the Netherlands as a CGU has been moved from Central to Western Europe following an internal reorganization. All historical segment financials are presented to reflect this change and restated figures for 2023 are presented.The Group reports revenue, gross margin (revenue less direct costs) and adjusted EBITDA in functional operating segments to the Board of Directors (the Group\u2019s chief operating decision makers). While LINK uses all three measures to analyze performance, the Group\u2019s strategy of profitable growth means that adjusted EBITDA is the prevailing measure of performance (refer to alternate performance measures).An examination of operating units based on market maturity and product development as well as geography identifies four natural reporting segments. These are Northern Europe, Western Europe, Central Europe, and Global Messaging; these represent market clusters. Generally, regions are segregated into similar geographic locations as these follow similar market trends. Global Messaging includes all regions with aggregator traffic; the other three have enterprise traffic.The regions are:Northern EuropeNorthern Europe is comprised of Norway, Sweden, Denmark, and Finland.Central Europe is composed of Bulgaria, Romania, North, Macedonia, Poland, Hungary, Germany,and Austria.Western EuropeWestern Europe is composed of Spain (including subsidiaries in Columbia and Mexico), France, the United Kingdom, Italy, Portugal and the Netherlands.Global MessagingGlobal messaging is comprised of non-enterprise traffic and is representative of either stand-alone business or as a component of revenues in countries included above. If a business is comprised of both enterprise and wholesale/aggregator transactions, the latter is segregated here. The Swiss operation Horisen Messaging is included here.Wholesale/aggregator business is defined as an operating unit within LINK\u2019s industry, and that use LINK connections in markets where they do not have such connections themselves. This business can generally be referred to, at least partly, as a direct competitor that use LINK connections. Smaller local aggregators cannot be expected to be covered efficiently by LINK Messaging AG and as such they are still subject to local handling (not a focus area though because they are generally low margin and switch easily).Revenue per segment 2024 2023 Restated 2023Northern Europe 1,535,959 1,489,934 1,489,934 Central Europe 1,689,181 1,369,426 1,461,521 Western Europe 2,105,343 1,842,380 1,750,286 Global Messaging 1,663,324 1,580,386 1,580,386 Total from continuing operations 6,993,807 6,282,126 6,282,126 Total from discontinued operations - 398,683 398,683 Gross profit per segment 2024 2023 Restated 2023Northern Europe 426,743 409,637 409,637 Central Europe 446,637 373,343 412,233 Western Europe 518,732 448,403 409,513 Global Messaging 135,529 116,302 116,302 Total from continuing operations 1,527,641 1,347,685 1,347,685 Total from discontinued operations - 317,354 317,354 Adjusted EBITDA per segment 2024 2023 Restated 2023Northern Europe 271,483 256,367 256,367 Central Europe 309,030 250,595 271,711 Western Europe 269,478 222,469 201,353 Global Messaging 82,298 74,352 74,352 Group Costs -214,320 -190,661 -190,661 Total from continuing operations 717,970 613,121 613,121 Total from discontinued operations - 159,345 159,345 Reconciliation of adjusted EBITDA to Group profit (loss) 2024 2023before income taxAdjusted EBITDA 717,970 613,121 Non-recurring items* -119,312 -135,269 Depreciation and amortization -334,189 -337,535 Operating profit 264,468 140,317 Finance income (expense) -43,370 -89,345 Total from continuing operations 221,098 50,972 Total from discontinued operations - 28,926 *Non-recurring items Non-recurring items is comprised of amounts that relate entirely to the company. Costs related to mergers and acquisitions, personnel cost deemed to be non-recurring (or one-off), restructuring expenses, advisors, and licenses are included in this reconciliation line item (this list is not exhaustive).Disaggregation of revenueThe Group\u2019s operations are conducted through its subsidiaries in the countries listed below. The Group derives its revenue from contracts with customers for the transfer of services as described in the table provided in note 3 to the financial statements. Customers enter contracts with specific LINK entities; these customers are invoiced from the entity that holds the contract.Revenue per business line 2024 2023Mobile messaging transactions 6,708,374 6,010,031 Payment services 22,958 26,224 Licenses 229,026 214,994 Consulting services 33,449 30,877 Group revenue from continuing operations 6,993,807 6,282,126 Group revenue from discontinued operations - 398,683 Northern Europe revenue per business line 2024 2023Mobile messaging transactions 1,390,950 1,345,761 Payment services 18,690 20,367 Licenses 122,509 120,700 Consulting services 3,810 3,105 1,535,959 1,489,934 Central Europe revenue per business line 2024 2023Mobile messaging transactions 1,634,232 1,320,453 Payment services 4,268 5,857 Licenses 34,989 29,326 Consulting services 15,692 13,790 1,689,181 1,369,426 Western Europe revenue per business line 2024 2023Mobile messaging transactions 2,021,642 1,765,269 Payment services - - Licenses 69,753 63,129 Consulting services 13,947 13,982 2,105,343 1,842,380 Global Messaging revenue per business line 2024 2023Mobile messaging transactions 1,661,549 1,578,548 Payment services - - Licenses 1,775 1,839 Consulting services - - 1,663,324 1,580,386 Revenue per geographical region 2024 2023Austria 233,709 216,917 Bulgaria 193,423 159,785 Columbia 5,288 - Denmark 212,241 186,432 Finland 155,993 136,625 France 1,024,579 995,333 Germany 604,640 604,051 Hungary 31,434 24,628 Italy 587,130 514,426 Latvia - - Mexico 126 - The Netherlands 171,040 92,095 North Macedonia 3,125 2,202 Norway 981,542 855,462 Poland 458,974 304,213 Portugal 14,935 - Romania 6,348 5,568 Spain 222,904 153,123 Sweden 370,527 392,530 Switzerland 1,626,304 1,542,474 United Kingdom 89,548 96,262 Total geographical revenue from continuing operations 6,993,807 6,282,126 Total geographical revenue from discontinued operations - 398,683",
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"f1__s8__6__43": {
"value": "Note 7 Segment reporting(Amounts in NOK 1000)Beginning in the first quarter 2024, the Netherlands as a CGU has been moved from Central to Western Europe following an internal reorganization. All historical segment financials are presented to reflect this change and restated figures for 2023 are presented.The Group reports revenue, gross margin (revenue less direct costs) and adjusted EBITDA in functional operating segments to the Board of Directors (the Group\u2019s chief operating decision makers). While LINK uses all three measures to analyze performance, the Group\u2019s strategy of profitable growth means that adjusted EBITDA is the prevailing measure of performance (refer to alternate performance measures).An examination of operating units based on market maturity and product development as well as geography identifies four natural reporting segments. These are Northern Europe, Western Europe, Central Europe, and Global Messaging; these represent market clusters. Generally, regions are segregated into similar geographic locations as these follow similar market trends. Global Messaging includes all regions with aggregator traffic; the other three have enterprise traffic.The regions are:Northern EuropeNorthern Europe is comprised of Norway, Sweden, Denmark, and Finland.Central Europe is composed of Bulgaria, Romania, North, Macedonia, Poland, Hungary, Germany,and Austria.Western EuropeWestern Europe is composed of Spain (including subsidiaries in Columbia and Mexico), France, the United Kingdom, Italy, Portugal and the Netherlands.Global MessagingGlobal messaging is comprised of non-enterprise traffic and is representative of either stand-alone business or as a component of revenues in countries included above. If a business is comprised of both enterprise and wholesale/aggregator transactions, the latter is segregated here. The Swiss operation Horisen Messaging is included here.Wholesale/aggregator business is defined as an operating unit within LINK\u2019s industry, and that use LINK connections in markets where they do not have such connections themselves. This business can generally be referred to, at least partly, as a direct competitor that use LINK connections. Smaller local aggregators cannot be expected to be covered efficiently by LINK Messaging AG and as such they are still subject to local handling (not a focus area though because they are generally low margin and switch easily).Revenue per segment 2024 2023 Restated 2023Northern Europe 1,535,959 1,489,934 1,489,934 Central Europe 1,689,181 1,369,426 1,461,521 Western Europe 2,105,343 1,842,380 1,750,286 Global Messaging 1,663,324 1,580,386 1,580,386 Total from continuing operations 6,993,807 6,282,126 6,282,126 Total from discontinued operations - 398,683 398,683 Gross profit per segment 2024 2023 Restated 2023Northern Europe 426,743 409,637 409,637 Central Europe 446,637 373,343 412,233 Western Europe 518,732 448,403 409,513 Global Messaging 135,529 116,302 116,302 Total from continuing operations 1,527,641 1,347,685 1,347,685 Total from discontinued operations - 317,354 317,354 Adjusted EBITDA per segment 2024 2023 Restated 2023Northern Europe 271,483 256,367 256,367 Central Europe 309,030 250,595 271,711 Western Europe 269,478 222,469 201,353 Global Messaging 82,298 74,352 74,352 Group Costs -214,320 -190,661 -190,661 Total from continuing operations 717,970 613,121 613,121 Total from discontinued operations - 159,345 159,345 Reconciliation of adjusted EBITDA to Group profit (loss) 2024 2023before income taxAdjusted EBITDA 717,970 613,121 Non-recurring items* -119,312 -135,269 Depreciation and amortization -334,189 -337,535 Operating profit 264,468 140,317 Finance income (expense) -43,370 -89,345 Total from continuing operations 221,098 50,972 Total from discontinued operations - 28,926 *Non-recurring items Non-recurring items is comprised of amounts that relate entirely to the company. Costs related to mergers and acquisitions, personnel cost deemed to be non-recurring (or one-off), restructuring expenses, advisors, and licenses are included in this reconciliation line item (this list is not exhaustive).Disaggregation of revenueThe Group\u2019s operations are conducted through its subsidiaries in the countries listed below. The Group derives its revenue from contracts with customers for the transfer of services as described in the table provided in note 3 to the financial statements. Customers enter contracts with specific LINK entities; these customers are invoiced from the entity that holds the contract.Revenue per business line 2024 2023Mobile messaging transactions 6,708,374 6,010,031 Payment services 22,958 26,224 Licenses 229,026 214,994 Consulting services 33,449 30,877 Group revenue from continuing operations 6,993,807 6,282,126 Group revenue from discontinued operations - 398,683 Northern Europe revenue per business line 2024 2023Mobile messaging transactions 1,390,950 1,345,761 Payment services 18,690 20,367 Licenses 122,509 120,700 Consulting services 3,810 3,105 1,535,959 1,489,934 Central Europe revenue per business line 2024 2023Mobile messaging transactions 1,634,232 1,320,453 Payment services 4,268 5,857 Licenses 34,989 29,326 Consulting services 15,692 13,790 1,689,181 1,369,426 Western Europe revenue per business line 2024 2023Mobile messaging transactions 2,021,642 1,765,269 Payment services - - Licenses 69,753 63,129 Consulting services 13,947 13,982 2,105,343 1,842,380 Global Messaging revenue per business line 2024 2023Mobile messaging transactions 1,661,549 1,578,548 Payment services - - Licenses 1,775 1,839 Consulting services - - 1,663,324 1,580,386 Revenue per geographical region 2024 2023Austria 233,709 216,917 Bulgaria 193,423 159,785 Columbia 5,288 - Denmark 212,241 186,432 Finland 155,993 136,625 France 1,024,579 995,333 Germany 604,640 604,051 Hungary 31,434 24,628 Italy 587,130 514,426 Latvia - - Mexico 126 - The Netherlands 171,040 92,095 North Macedonia 3,125 2,202 Norway 981,542 855,462 Poland 458,974 304,213 Portugal 14,935 - Romania 6,348 5,568 Spain 222,904 153,123 Sweden 370,527 392,530 Switzerland 1,626,304 1,542,474 United Kingdom 89,548 96,262 Total geographical revenue from continuing operations 6,993,807 6,282,126 Total geographical revenue from discontinued operations - 398,683",
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"value": "Note 8 Leases(Amounts in NOK 1000)This note provides information for leases where the group is a lessee.Amounts recognised in the balance sheet The balance sheet shows the following amounts related to leases:Right-of-use assetsOther Leased Leased leased vehiclespremisesitems TotalPeriod ended December 31, 2023Opening net book amount 620 46,785 460 47,865 Additions 1,182 14,434 344 15,960 Depreciation charge (1,068) (17,965) (804) (19,836)Closing net book amount 12.31 734 43,254 (0) 43,988 Closing net book amount 12.31 (held as available for sale) - 5,633 222 5,856 Period ended December 31, 2024Opening net book amount 734 43,254 - 43,988 Additions - 7,710 - 7,710 Leases terminated in the period - (9,125) (9,125)Effects from foreign exchange 24 1,754 - 1,779 Depreciation charge (659) (13,769) - (14,428)Closing net book amount 12.31 99 29,825 - 29,924 Estimated useful life, depreciation plan and residual value is as follows:Economic (useful) life 0 - 3 0 - 50 - 3 yearsyearsearsDepreciation plan Linear Linear Linear Lease liabilities Leased Leased Other leased TotalvehiclespremisesitemsPeriod ended December 31, 2023Opening lease liability 1,010 43,713 1,247 45,970 New lease liabilities recognised in the period - 10,993 - 10,993 Leases terminated in the period - (11,289) (1,247) (12,536)Payments for the lease liability (673) (14,061) - (14,734)Effects from foreign exchange 85 1,779 - 1,864 Closing net book amount 12.31 422 31,134 - 31,557 Whereof:Current lease liabilities 11,948 Non-current lease liabilities 19,608 The Group\u2019s leasing activities:The Group leases office space, equipment, and vehicles. Rental contracts are typically made for fixed periods between 1 and 5 years and may include extension options.At the lease commencement date, the Group recognizes a right-of-use asset equal to the measurement of the lease liability less any lease incentives received, and a lease liability measured at the present value of future lease payments. As the interest rate implicit in the lease is not readily determinable, the Group uses its incremental borrowing rate to measure the lease liability.The incremental borrowing rate is determined for each lease using interest rates acquired from external financing sources and adjusted to provide a borrowing rate that is representative of a collateralized amortizing loan.Costs in leasing contracts for offices that relate to the provision of services such as maintenance and utilities are identified and treated separately as non-lease components. These costs are expensed as incurred.For office leases, the Group applies judgement in assessing whether it is likely to exercise to options to extend or terminate a lease. All factors that create an economic incentive to exercise options, such as the market conditions that impact the price, the entity\u2019s demand for office space, contractual incentives and penalties, are considered. The Group assesses each lease on a running basis and recognizes an adjustment when it is reasonably certain to exercise an option.The lease contracts that the Group has for offices are often subject to periodic adjustments based on consumer price indexes. In such cases, the Group remeasures the lease liability with an unchanged discount rate and recognizes the adjustment against the right-of-use asset. The adjustment is recognized when the change in payments is in effect.The Group has elected to exempt leases that have a shorter duration than one year and leases where the value of the underlying asset is below USD 5,000 from the above treatment.Extension and termination options:Extension and termination options are included in certain leased premisis contracts across the Group; lease premisis is the largest lease category.These options are used to maximise operational flexibility in terms of managing the assets used in the Group\u2019s operations. The majority of extension and termination options held are mutually exercisable and are evaluated accordingly.",
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"f1__s8__6__48": {
"value": "Note 9 Payroll and related expenses (Amounts in NOK 1000)2024 2023Wages and salaries 375,667 366,468 Share-based payment expense 24,691 78,565 Social security tax 111,815 101,374 Pension expense 25,004 22,033 Other benefits 17,874 16,942 Total payroll and related expenses (continuing operations) 555,051 585,383 Total payroll and related expenses (discontinued operations) - 91,684 The number of labor years employed during the financial year: 649 600 The pension plans in the Group comply with the pension legislation enacted in respective countries. The pension plans require that the Group pays premiums to public or private administrative pension plans on a mandatory, contractual or voluntary basis. There are no further obligations once the annual premiums are paid. The premiums are accounted for as personnel expenses as soon as they are incurred. Pre-paid premiums are accounted for as an asset to the extent that future benefits can be determined as plausible. Remuneration of key group employees Key group employees are defined as employees who are part of LINK Group management. In FY2024 and as at December 31, 2024, Group management consisted of the following individuals (amounts in NOK 1000): Pension Other Name and position Employed since Salary BonusexpenseremunerationThomas Berge (CEO) September 2016 4,996 2,577 90 71 Morten L\u00f8ken Edvardsen (CFO) January 2018 2,438 913 90 104 P\u00e5l Marius Brun (CPO) February 2013 2,168 835 90 68 Lin Austb\u00f8 (Chief People and Strategy October 2020 2,296 891 94 54 Officer)Rune Strandli (CTO) April 2023 2,194 613 92 15 Benoit Bole (COO Western Europe) January 2019 2,422 948 592 32 Ina Rasmussen (COO Northern January 2015 2,255 507 93 192 Europe)Riccardo Dragoni (COO Central December 2023 2,032 411 465 160 Europe)Total 20,801 7,695 1,606 696 The CEO has a performance based bonus of up to 6 months salary; the amount of the bonus is determined by the successful completion of key management business objectives that are set by the Board of Directors.The CFO has a performance based bonus of up to 5 months salary. The criteria for this bonus is a combination of quantitative targets determined by the Board of Directors.The remaining key Group employees have a performance based bonus of up to 5 months salary. The bonus is calculated on the basis of achievment of budgeted Group income and EBITDA, and other quantitative criteria that are determined on an annual basis.Share based remunerationThe Company had two programs for share based remuneration for its employees: the Restricted Share Unit (RSU) program and the long-term incentive plan (LTI) option program. Fair value of the RSU\u2019s and LTI\u2019s are calculated at the time of allocation and expensed over the vesting period. The last of the RSU\u2019s vested in 2023.In Q4 2020, the Company issued 3 769 092 RSU\u2019s and 2 000 000 LTI\u2019s to selected employees, including management. Fair value of RSU\u2019s and LTI\u2019s was NOK 46.995 (for all practical purposes equal to the share price) and NOK 20.30 at the grant date, respectively. These are referred to as 2021 LTIP.Grant date for both RSU\u2019s and LTI\u2019s is set at 10.20. 2020. The \u201cstrike price\u201d of RSU\u2019s is NOK 0.005 (equal to the nominal value of the shares) and the strike price of the 2021 LTI\u2019s is NOK 47.00.In Q4 2021, the Company issued 3 000 000 additional options as part of the LTI program. Fair value of the these options were calculated at NOK 8.5 and the strike price of the options was NOK 20.89. These are referred to as 2022 LTIP.In Q2 2023, the Company replaced both previous LTIP programs by rolling over those share options into a new long-term incentive program for management and key employees (the \u201cNew LTIP\u201d program\u201d). This program has a total of 16 million options that can be granted. There are no applicable performance conditions, only a vesting period which is subject to the option holder remaining an employee of LINK. These options will vest over a 3 year period segregated into three tranches (1/3 each year).The exercise price for the first 1/3 of the options to be vested shall be based on the market value of the LINK share at the grant date (calculated based on the 5-day VWAP prior to the grant date) with the second 1/3 of the options to be based on the market value at the grant date with an increase of 12% and with the third 1/3 of the options to be based on the second vesting exercise price with an increase of 12%, implying a strike price for the share options under the New LTIP program of NOK 8.11, NOK 9.08 and NOK 10.17, respectively.A total of 711 000 options remain from previous programs and have exercise prices of NOK 47.00 and NOK 20.89, respectively.An expense of NOK 40 million (including accrued social security tax) related to share options has been recorded in FY2024. The expenses related to the LTI is NOK 22 million (there is no expense related to RSU\u2019s in FY2024). The amount directly related to the social security tax provision is credit of 15 million.In addition to the RSU and LTI programs, all employees may participate in the employee share purchase program (ESPP). Under the terms of the ESPP, all employees were given the opportunity to apply for shares for up to a maximum amount of NOK 100,000; employees receive a 20% discount on these shares. The shares are subject to a lock-up period of 12 months and after a vesting period of two years, employees are entitled to 1 matching (subject to paying the nominal value per share) per 3 shares subscribed if certain conditions are fulfilled. An expense of NOK 1 million related to ESPP shares is recognised in 2024.In 2022, it is resolved that the Chairperson can be granted 2 million share options (\u201cCOB Options\u201d), whereby 1 option gives the right to subscribe for 1 share in the Company. The subscription right is the volume weighted average trading price of the Company\u2019s shares on the Oslo Stock Exchange for the last 10 trading days before the date of the Extraordinary General Meeting. The options shall vest for 24 months from the grant date and may be exercised for 7 years from the date of grant; vesting is subject to the Chairperson having not withdrawn from this position. An expense of NOK 2 million related to COB Options is recognised in 2024.The tables below shows an overview of the outstanding LTI\u2019s and COB Options:Number of Number of unvested Expiration Strike priceoptionsoptions Vesting datedate2021 LTIP 47.00 408,000 - 10/20/2021 10/20/20272022 LTIP 20.89 303,000 - 12/7/2023 12/7/2028New LTIP - Tranche 1 8.11 3,437,659 - 12/7/2023 12/7/2026New LTIP - Tranche 2 9.08 6,450,650 - 12/7/2024 12/7/2026New LTIP - Tranche 3 10.17 4,417,366 4,417, 366 12/7/2025 12/7/2026Sum 15,016,675 4,417,366 2024Number of Average priceoptionsTotal vested LTI\u2019s2021 LTIP 408,000 47.00 2022 LTIP 303,000 20.89 New LTIP - Tranche 1 3,437,659 8.11 New LTIP - Tranche 2 6,450,650 9.08 New LTIP - Tranche 3 - 10.17 Granted unvested options2021 LTIP - 47.00 2022 LTIP - 20.89 New LTIP - Tranche 1 - 8.11 New LTIP - Tranche 2 - 9.08 New LTIP - Tranche 3 4,417,366 10.17 Cancelled LTI\u2019s2021 LTIP 56,000 47.00 2022 LTIP - 20.89 New LTIP - Tranche 1 - 8.11 New LTIP - Tranche 2 569,665 9.08 New LTIP - Tranche 3 1,019,672 10.17 Dropped LTI\u2019s2021 LTIP 35,840 47.00 2022 LTIP - 20.89 New LTIP - Tranche 1 - 8.11 New LTIP - Tranche 2 - 9.08 New LTIP - Tranche 3 - 10.17 Expired LTI\u2019s in the period2021 LTIP - 47.00 2022 LTIP - 20.89 New LTIP - Tranche 1 - 8.11 New LTIP - Tranche 2 - 9.08 New LTIP - Tranche 3 - 10.17 Exercised LTI\u2019s in the period2021 LTIP - 47.00 2022 LTIP - 20.89 New LTIP - Tranche 1 1,147,656 8.11 New LTIP - Tranche 2 476,665 9.08 New LTIP - Tranche 3 476,670 10.17 Total outstanding LTI\u2019s 15,016,675 19.05 2021 LTIPNumber of Number of LTI\u2019s vested at Exercise Name Grant dateLTI\u2019s granted31.12.2024 Expiry dateprice rangeOthers (not specified) 10/20/2020 408,000 231,880 10/20/2027 47.00 Sum 408,000 231,880 2022 LTIPNumber of Number of LTI\u2019s vested at Exercise Name Grant dateLTI\u2019s granted31.12.2024 Expiry dateprice rangeOthers (not specified) 12/7/2021 303,000 211,160 12/7/2028 20.89 Sum 303,000 211,160 New LTIPNumber of Number of LTI\u2019s vested at Exercise Name Grant dateLTI\u2019s granted31.12.2024 Expiry dateprice rangeThomas Berge (CEO) 12/7/2022 2,000,000 1,333,333 12/7/2026 8,11 - 10,17 Morten L\u00f8ken Edvardsen (CFO) 12/7/2022 1,250,000 833,333 12/7/2026 8,11 - 10,17 P\u00e5l Marius Brun (CPO) 12/7/2022 1,000,000 666,667 12/7/2026 8,11 - 10,17 Lin Austb\u00f812/7/2022 - 833,333 12/7/2026 8,11 - 10,17 (Chief People and Strategy Officer)Rune Strandli (CTO) 12/7/2022 1,000,000 666,667 12/7/2026 8,11 - 10,17 Benoit Bole (COO Western Europe) 12/7/2022 1,250,000 816,667 12/7/2026 8,11 - 10,17 Ina Rasmussen (COO Northern Europe) 12/7/2022 1,250,000 833,333 12/7/2026 8,11 - 10,17 Riccardo Dragoni (COO Central Europe) 12/7/2022 833,334 416,667 12/7/2026 8,11 - 10,17 Others (not specified) 12/7/2022 6,946,001 1,585,319 12/7/2026 8,11 - 10,17 Sum 15,529,335 7,985,319 Number of COB Options Average priceVested COB Options 2,000,000 11.70 Unvested COB Options - - Total outstanding COB Options 2,000,000 Number of Expiration Strike priceoptions Vesting datedateUnvested COB Options - - 8/31/2024 8/31/2031Sum - Q4 2024 2024Number of Number of options Average priceoptions Average priceTotal unvested COB Options - - - - Assigned COB Options 2,000,000 11.70 - 11.70 Cancelled COB Options - - - - Dropped COB Options - - - - Expired COB Options in the period - - - - Exercised COB Options in the period - - - - Total outstanding COB Options 2,000,000 11.70 - 11.70 Number of Number of COB Options COB Options vested at Exercise price Name Grant dategranted31.12.2024 Expiry daterangeAndre Alexander Christensen8/31/2022 2,000,000 2,000,000 8/31/2031 11.70 (Chair)Sum 2,000,000 2,000,000 Fair value of the LTI\u2019s and RSU\u2019s are calculated using an adjusted (for exercise behavior) Black-Scholes option pricing model.The following assumptions are used in the calculations:\u2022 The share price is set equal to the offer price of Link Mobility Group Holding ASA at the time of grant.\u2022 The strike price for the RSUs is set equal to the nominal share value (NOK 0.005).We assume that historical volatility of a selected group comparable companies within the CPaaS-univserse is an indication of future volatility.Expected volatility is set identical to historical volatility, equal to 61 % in the calculations for the first LTI\u2019s and for the RSU\u2019s. The volatility for the LTI II is estimated at 51%, and the volatility for the COB options is estimated at 59.99%.We assume that the employees will exercise the options at the mid-point between earliest and latest possible exercise opportunity. For each grant, the expected lifetime is set to vesting plus 1-year.Risk free rate used in the calculations is set equal to the rate of Norwegian treasury bills and Government Bonds corresponding to the lifetime of the option.Remuneration to the Board of DirectorsThe Board of Directors who did not waive their right to remuneration received payment in July/August 2024. On May 29, 2024, the Company\u2019s general meeting resolved the following remuneration for the Board of Directors for the period from May 29, 2024 until the annual general meeting is held in 2025:Name RemunerationBoard of Remuneration Audit CommitteeDirectorsCommitteeAndre Alexander Christensen (Chair) 700,000 65,000 85,000 Sabrina Emma Gosman 430,000 - - Robert Joseph Nicewicz Jr. 430,000 43,000 - Grethe Viksaas 430,000 - 58,000 Sara Murby Forste 430,000 - 58,000 Jens Rugseth 430,000 - - Robert Joseph Nicewicz Jr. and Sabrina Emma Gosman have all waived their right to remuneration and therefore the Company will not remunerate these board members in accordance with the amounts set in the table above.Remuneration to the Nomination CommitteeOn May 29, 2024, the Company\u2019s general meeting resolved the following remuneration for the nomination committee for the period from May 29, 2024 until the annual general meeting is held in 2025:Name RemunerationTor Malmo (Chair) 65,000 Oddny Svergja 43,000 No loans, advances, or guarantees have been granted to key group employees, Board members, or nomination committee members.",
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}
},
"f1__s8__6__47": {
"value": "Note 9 Payroll and related expenses (Amounts in NOK 1000)2024 2023Wages and salaries 375,667 366,468 Share-based payment expense 24,691 78,565 Social security tax 111,815 101,374 Pension expense 25,004 22,033 Other benefits 17,874 16,942 Total payroll and related expenses (continuing operations) 555,051 585,383 Total payroll and related expenses (discontinued operations) - 91,684 The number of labor years employed during the financial year: 649 600 The pension plans in the Group comply with the pension legislation enacted in respective countries. The pension plans require that the Group pays premiums to public or private administrative pension plans on a mandatory, contractual or voluntary basis. There are no further obligations once the annual premiums are paid. The premiums are accounted for as personnel expenses as soon as they are incurred. Pre-paid premiums are accounted for as an asset to the extent that future benefits can be determined as plausible. Remuneration of key group employees Key group employees are defined as employees who are part of LINK Group management. In FY2024 and as at December 31, 2024, Group management consisted of the following individuals (amounts in NOK 1000): Pension Other Name and position Employed since Salary BonusexpenseremunerationThomas Berge (CEO) September 2016 4,996 2,577 90 71 Morten L\u00f8ken Edvardsen (CFO) January 2018 2,438 913 90 104 P\u00e5l Marius Brun (CPO) February 2013 2,168 835 90 68 Lin Austb\u00f8 (Chief People and Strategy October 2020 2,296 891 94 54 Officer)Rune Strandli (CTO) April 2023 2,194 613 92 15 Benoit Bole (COO Western Europe) January 2019 2,422 948 592 32 Ina Rasmussen (COO Northern January 2015 2,255 507 93 192 Europe)Riccardo Dragoni (COO Central December 2023 2,032 411 465 160 Europe)Total 20,801 7,695 1,606 696 The CEO has a performance based bonus of up to 6 months salary; the amount of the bonus is determined by the successful completion of key management business objectives that are set by the Board of Directors.The CFO has a performance based bonus of up to 5 months salary. The criteria for this bonus is a combination of quantitative targets determined by the Board of Directors.The remaining key Group employees have a performance based bonus of up to 5 months salary. The bonus is calculated on the basis of achievment of budgeted Group income and EBITDA, and other quantitative criteria that are determined on an annual basis.Share based remunerationThe Company had two programs for share based remuneration for its employees: the Restricted Share Unit (RSU) program and the long-term incentive plan (LTI) option program. Fair value of the RSU\u2019s and LTI\u2019s are calculated at the time of allocation and expensed over the vesting period. The last of the RSU\u2019s vested in 2023.In Q4 2020, the Company issued 3 769 092 RSU\u2019s and 2 000 000 LTI\u2019s to selected employees, including management. Fair value of RSU\u2019s and LTI\u2019s was NOK 46.995 (for all practical purposes equal to the share price) and NOK 20.30 at the grant date, respectively. These are referred to as 2021 LTIP.Grant date for both RSU\u2019s and LTI\u2019s is set at 10.20. 2020. The \u201cstrike price\u201d of RSU\u2019s is NOK 0.005 (equal to the nominal value of the shares) and the strike price of the 2021 LTI\u2019s is NOK 47.00.In Q4 2021, the Company issued 3 000 000 additional options as part of the LTI program. Fair value of the these options were calculated at NOK 8.5 and the strike price of the options was NOK 20.89. These are referred to as 2022 LTIP.In Q2 2023, the Company replaced both previous LTIP programs by rolling over those share options into a new long-term incentive program for management and key employees (the \u201cNew LTIP\u201d program\u201d). This program has a total of 16 million options that can be granted. There are no applicable performance conditions, only a vesting period which is subject to the option holder remaining an employee of LINK. These options will vest over a 3 year period segregated into three tranches (1/3 each year).The exercise price for the first 1/3 of the options to be vested shall be based on the market value of the LINK share at the grant date (calculated based on the 5-day VWAP prior to the grant date) with the second 1/3 of the options to be based on the market value at the grant date with an increase of 12% and with the third 1/3 of the options to be based on the second vesting exercise price with an increase of 12%, implying a strike price for the share options under the New LTIP program of NOK 8.11, NOK 9.08 and NOK 10.17, respectively.A total of 711 000 options remain from previous programs and have exercise prices of NOK 47.00 and NOK 20.89, respectively.An expense of NOK 40 million (including accrued social security tax) related to share options has been recorded in FY2024. The expenses related to the LTI is NOK 22 million (there is no expense related to RSU\u2019s in FY2024). The amount directly related to the social security tax provision is credit of 15 million.In addition to the RSU and LTI programs, all employees may participate in the employee share purchase program (ESPP). Under the terms of the ESPP, all employees were given the opportunity to apply for shares for up to a maximum amount of NOK 100,000; employees receive a 20% discount on these shares. The shares are subject to a lock-up period of 12 months and after a vesting period of two years, employees are entitled to 1 matching (subject to paying the nominal value per share) per 3 shares subscribed if certain conditions are fulfilled. An expense of NOK 1 million related to ESPP shares is recognised in 2024.In 2022, it is resolved that the Chairperson can be granted 2 million share options (\u201cCOB Options\u201d), whereby 1 option gives the right to subscribe for 1 share in the Company. The subscription right is the volume weighted average trading price of the Company\u2019s shares on the Oslo Stock Exchange for the last 10 trading days before the date of the Extraordinary General Meeting. The options shall vest for 24 months from the grant date and may be exercised for 7 years from the date of grant; vesting is subject to the Chairperson having not withdrawn from this position. An expense of NOK 2 million related to COB Options is recognised in 2024.The tables below shows an overview of the outstanding LTI\u2019s and COB Options:Number of Number of unvested Expiration Strike priceoptionsoptions Vesting datedate2021 LTIP 47.00 408,000 - 10/20/2021 10/20/20272022 LTIP 20.89 303,000 - 12/7/2023 12/7/2028New LTIP - Tranche 1 8.11 3,437,659 - 12/7/2023 12/7/2026New LTIP - Tranche 2 9.08 6,450,650 - 12/7/2024 12/7/2026New LTIP - Tranche 3 10.17 4,417,366 4,417, 366 12/7/2025 12/7/2026Sum 15,016,675 4,417,366 2024Number of Average priceoptionsTotal vested LTI\u2019s2021 LTIP 408,000 47.00 2022 LTIP 303,000 20.89 New LTIP - Tranche 1 3,437,659 8.11 New LTIP - Tranche 2 6,450,650 9.08 New LTIP - Tranche 3 - 10.17 Granted unvested options2021 LTIP - 47.00 2022 LTIP - 20.89 New LTIP - Tranche 1 - 8.11 New LTIP - Tranche 2 - 9.08 New LTIP - Tranche 3 4,417,366 10.17 Cancelled LTI\u2019s2021 LTIP 56,000 47.00 2022 LTIP - 20.89 New LTIP - Tranche 1 - 8.11 New LTIP - Tranche 2 569,665 9.08 New LTIP - Tranche 3 1,019,672 10.17 Dropped LTI\u2019s2021 LTIP 35,840 47.00 2022 LTIP - 20.89 New LTIP - Tranche 1 - 8.11 New LTIP - Tranche 2 - 9.08 New LTIP - Tranche 3 - 10.17 Expired LTI\u2019s in the period2021 LTIP - 47.00 2022 LTIP - 20.89 New LTIP - Tranche 1 - 8.11 New LTIP - Tranche 2 - 9.08 New LTIP - Tranche 3 - 10.17 Exercised LTI\u2019s in the period2021 LTIP - 47.00 2022 LTIP - 20.89 New LTIP - Tranche 1 1,147,656 8.11 New LTIP - Tranche 2 476,665 9.08 New LTIP - Tranche 3 476,670 10.17 Total outstanding LTI\u2019s 15,016,675 19.05 2021 LTIPNumber of Number of LTI\u2019s vested at Exercise Name Grant dateLTI\u2019s granted31.12.2024 Expiry dateprice rangeOthers (not specified) 10/20/2020 408,000 231,880 10/20/2027 47.00 Sum 408,000 231,880 2022 LTIPNumber of Number of LTI\u2019s vested at Exercise Name Grant dateLTI\u2019s granted31.12.2024 Expiry dateprice rangeOthers (not specified) 12/7/2021 303,000 211,160 12/7/2028 20.89 Sum 303,000 211,160 New LTIPNumber of Number of LTI\u2019s vested at Exercise Name Grant dateLTI\u2019s granted31.12.2024 Expiry dateprice rangeThomas Berge (CEO) 12/7/2022 2,000,000 1,333,333 12/7/2026 8,11 - 10,17 Morten L\u00f8ken Edvardsen (CFO) 12/7/2022 1,250,000 833,333 12/7/2026 8,11 - 10,17 P\u00e5l Marius Brun (CPO) 12/7/2022 1,000,000 666,667 12/7/2026 8,11 - 10,17 Lin Austb\u00f812/7/2022 - 833,333 12/7/2026 8,11 - 10,17 (Chief People and Strategy Officer)Rune Strandli (CTO) 12/7/2022 1,000,000 666,667 12/7/2026 8,11 - 10,17 Benoit Bole (COO Western Europe) 12/7/2022 1,250,000 816,667 12/7/2026 8,11 - 10,17 Ina Rasmussen (COO Northern Europe) 12/7/2022 1,250,000 833,333 12/7/2026 8,11 - 10,17 Riccardo Dragoni (COO Central Europe) 12/7/2022 833,334 416,667 12/7/2026 8,11 - 10,17 Others (not specified) 12/7/2022 6,946,001 1,585,319 12/7/2026 8,11 - 10,17 Sum 15,529,335 7,985,319 Number of COB Options Average priceVested COB Options 2,000,000 11.70 Unvested COB Options - - Total outstanding COB Options 2,000,000 Number of Expiration Strike priceoptions Vesting datedateUnvested COB Options - - 8/31/2024 8/31/2031Sum - Q4 2024 2024Number of Number of options Average priceoptions Average priceTotal unvested COB Options - - - - Assigned COB Options 2,000,000 11.70 - 11.70 Cancelled COB Options - - - - Dropped COB Options - - - - Expired COB Options in the period - - - - Exercised COB Options in the period - - - - Total outstanding COB Options 2,000,000 11.70 - 11.70 Number of Number of COB Options COB Options vested at Exercise price Name Grant dategranted31.12.2024 Expiry daterangeAndre Alexander Christensen8/31/2022 2,000,000 2,000,000 8/31/2031 11.70 (Chair)Sum 2,000,000 2,000,000 Fair value of the LTI\u2019s and RSU\u2019s are calculated using an adjusted (for exercise behavior) Black-Scholes option pricing model.The following assumptions are used in the calculations:\u2022 The share price is set equal to the offer price of Link Mobility Group Holding ASA at the time of grant.\u2022 The strike price for the RSUs is set equal to the nominal share value (NOK 0.005).We assume that historical volatility of a selected group comparable companies within the CPaaS-univserse is an indication of future volatility.Expected volatility is set identical to historical volatility, equal to 61 % in the calculations for the first LTI\u2019s and for the RSU\u2019s. The volatility for the LTI II is estimated at 51%, and the volatility for the COB options is estimated at 59.99%.We assume that the employees will exercise the options at the mid-point between earliest and latest possible exercise opportunity. For each grant, the expected lifetime is set to vesting plus 1-year.Risk free rate used in the calculations is set equal to the rate of Norwegian treasury bills and Government Bonds corresponding to the lifetime of the option.Remuneration to the Board of DirectorsThe Board of Directors who did not waive their right to remuneration received payment in July/August 2024. On May 29, 2024, the Company\u2019s general meeting resolved the following remuneration for the Board of Directors for the period from May 29, 2024 until the annual general meeting is held in 2025:Name RemunerationBoard of Remuneration Audit CommitteeDirectorsCommitteeAndre Alexander Christensen (Chair) 700,000 65,000 85,000 Sabrina Emma Gosman 430,000 - - Robert Joseph Nicewicz Jr. 430,000 43,000 - Grethe Viksaas 430,000 - 58,000 Sara Murby Forste 430,000 - 58,000 Jens Rugseth 430,000 - - Robert Joseph Nicewicz Jr. and Sabrina Emma Gosman have all waived their right to remuneration and therefore the Company will not remunerate these board members in accordance with the amounts set in the table above.Remuneration to the Nomination CommitteeOn May 29, 2024, the Company\u2019s general meeting resolved the following remuneration for the nomination committee for the period from May 29, 2024 until the annual general meeting is held in 2025:Name RemunerationTor Malmo (Chair) 65,000 Oddny Svergja 43,000 No loans, advances, or guarantees have been granted to key group employees, Board members, or nomination committee members.",
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"entity": "scheme:2549006RH08XJGKC2Y14",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
}
},
"f1__s8__6__46": {
"value": "Note 9 Payroll and related expenses (Amounts in NOK 1000)2024 2023Wages and salaries 375,667 366,468 Share-based payment expense 24,691 78,565 Social security tax 111,815 101,374 Pension expense 25,004 22,033 Other benefits 17,874 16,942 Total payroll and related expenses (continuing operations) 555,051 585,383 Total payroll and related expenses (discontinued operations) - 91,684 The number of labor years employed during the financial year: 649 600 The pension plans in the Group comply with the pension legislation enacted in respective countries. The pension plans require that the Group pays premiums to public or private administrative pension plans on a mandatory, contractual or voluntary basis. There are no further obligations once the annual premiums are paid. The premiums are accounted for as personnel expenses as soon as they are incurred. Pre-paid premiums are accounted for as an asset to the extent that future benefits can be determined as plausible. Remuneration of key group employees Key group employees are defined as employees who are part of LINK Group management. In FY2024 and as at December 31, 2024, Group management consisted of the following individuals (amounts in NOK 1000): Pension Other Name and position Employed since Salary BonusexpenseremunerationThomas Berge (CEO) September 2016 4,996 2,577 90 71 Morten L\u00f8ken Edvardsen (CFO) January 2018 2,438 913 90 104 P\u00e5l Marius Brun (CPO) February 2013 2,168 835 90 68 Lin Austb\u00f8 (Chief People and Strategy October 2020 2,296 891 94 54 Officer)Rune Strandli (CTO) April 2023 2,194 613 92 15 Benoit Bole (COO Western Europe) January 2019 2,422 948 592 32 Ina Rasmussen (COO Northern January 2015 2,255 507 93 192 Europe)Riccardo Dragoni (COO Central December 2023 2,032 411 465 160 Europe)Total 20,801 7,695 1,606 696 The CEO has a performance based bonus of up to 6 months salary; the amount of the bonus is determined by the successful completion of key management business objectives that are set by the Board of Directors.The CFO has a performance based bonus of up to 5 months salary. The criteria for this bonus is a combination of quantitative targets determined by the Board of Directors.The remaining key Group employees have a performance based bonus of up to 5 months salary. The bonus is calculated on the basis of achievment of budgeted Group income and EBITDA, and other quantitative criteria that are determined on an annual basis.Share based remunerationThe Company had two programs for share based remuneration for its employees: the Restricted Share Unit (RSU) program and the long-term incentive plan (LTI) option program. Fair value of the RSU\u2019s and LTI\u2019s are calculated at the time of allocation and expensed over the vesting period. The last of the RSU\u2019s vested in 2023.In Q4 2020, the Company issued 3 769 092 RSU\u2019s and 2 000 000 LTI\u2019s to selected employees, including management. Fair value of RSU\u2019s and LTI\u2019s was NOK 46.995 (for all practical purposes equal to the share price) and NOK 20.30 at the grant date, respectively. These are referred to as 2021 LTIP.Grant date for both RSU\u2019s and LTI\u2019s is set at 10.20. 2020. The \u201cstrike price\u201d of RSU\u2019s is NOK 0.005 (equal to the nominal value of the shares) and the strike price of the 2021 LTI\u2019s is NOK 47.00.In Q4 2021, the Company issued 3 000 000 additional options as part of the LTI program. Fair value of the these options were calculated at NOK 8.5 and the strike price of the options was NOK 20.89. These are referred to as 2022 LTIP.In Q2 2023, the Company replaced both previous LTIP programs by rolling over those share options into a new long-term incentive program for management and key employees (the \u201cNew LTIP\u201d program\u201d). This program has a total of 16 million options that can be granted. There are no applicable performance conditions, only a vesting period which is subject to the option holder remaining an employee of LINK. These options will vest over a 3 year period segregated into three tranches (1/3 each year).The exercise price for the first 1/3 of the options to be vested shall be based on the market value of the LINK share at the grant date (calculated based on the 5-day VWAP prior to the grant date) with the second 1/3 of the options to be based on the market value at the grant date with an increase of 12% and with the third 1/3 of the options to be based on the second vesting exercise price with an increase of 12%, implying a strike price for the share options under the New LTIP program of NOK 8.11, NOK 9.08 and NOK 10.17, respectively.A total of 711 000 options remain from previous programs and have exercise prices of NOK 47.00 and NOK 20.89, respectively.An expense of NOK 40 million (including accrued social security tax) related to share options has been recorded in FY2024. The expenses related to the LTI is NOK 22 million (there is no expense related to RSU\u2019s in FY2024). The amount directly related to the social security tax provision is credit of 15 million.In addition to the RSU and LTI programs, all employees may participate in the employee share purchase program (ESPP). Under the terms of the ESPP, all employees were given the opportunity to apply for shares for up to a maximum amount of NOK 100,000; employees receive a 20% discount on these shares. The shares are subject to a lock-up period of 12 months and after a vesting period of two years, employees are entitled to 1 matching (subject to paying the nominal value per share) per 3 shares subscribed if certain conditions are fulfilled. An expense of NOK 1 million related to ESPP shares is recognised in 2024.In 2022, it is resolved that the Chairperson can be granted 2 million share options (\u201cCOB Options\u201d), whereby 1 option gives the right to subscribe for 1 share in the Company. The subscription right is the volume weighted average trading price of the Company\u2019s shares on the Oslo Stock Exchange for the last 10 trading days before the date of the Extraordinary General Meeting. The options shall vest for 24 months from the grant date and may be exercised for 7 years from the date of grant; vesting is subject to the Chairperson having not withdrawn from this position. An expense of NOK 2 million related to COB Options is recognised in 2024.The tables below shows an overview of the outstanding LTI\u2019s and COB Options:Number of Number of unvested Expiration Strike priceoptionsoptions Vesting datedate2021 LTIP 47.00 408,000 - 10/20/2021 10/20/20272022 LTIP 20.89 303,000 - 12/7/2023 12/7/2028New LTIP - Tranche 1 8.11 3,437,659 - 12/7/2023 12/7/2026New LTIP - Tranche 2 9.08 6,450,650 - 12/7/2024 12/7/2026New LTIP - Tranche 3 10.17 4,417,366 4,417, 366 12/7/2025 12/7/2026Sum 15,016,675 4,417,366 2024Number of Average priceoptionsTotal vested LTI\u2019s2021 LTIP 408,000 47.00 2022 LTIP 303,000 20.89 New LTIP - Tranche 1 3,437,659 8.11 New LTIP - Tranche 2 6,450,650 9.08 New LTIP - Tranche 3 - 10.17 Granted unvested options2021 LTIP - 47.00 2022 LTIP - 20.89 New LTIP - Tranche 1 - 8.11 New LTIP - Tranche 2 - 9.08 New LTIP - Tranche 3 4,417,366 10.17 Cancelled LTI\u2019s2021 LTIP 56,000 47.00 2022 LTIP - 20.89 New LTIP - Tranche 1 - 8.11 New LTIP - Tranche 2 569,665 9.08 New LTIP - Tranche 3 1,019,672 10.17 Dropped LTI\u2019s2021 LTIP 35,840 47.00 2022 LTIP - 20.89 New LTIP - Tranche 1 - 8.11 New LTIP - Tranche 2 - 9.08 New LTIP - Tranche 3 - 10.17 Expired LTI\u2019s in the period2021 LTIP - 47.00 2022 LTIP - 20.89 New LTIP - Tranche 1 - 8.11 New LTIP - Tranche 2 - 9.08 New LTIP - Tranche 3 - 10.17 Exercised LTI\u2019s in the period2021 LTIP - 47.00 2022 LTIP - 20.89 New LTIP - Tranche 1 1,147,656 8.11 New LTIP - Tranche 2 476,665 9.08 New LTIP - Tranche 3 476,670 10.17 Total outstanding LTI\u2019s 15,016,675 19.05 2021 LTIPNumber of Number of LTI\u2019s vested at Exercise Name Grant dateLTI\u2019s granted31.12.2024 Expiry dateprice rangeOthers (not specified) 10/20/2020 408,000 231,880 10/20/2027 47.00 Sum 408,000 231,880 2022 LTIPNumber of Number of LTI\u2019s vested at Exercise Name Grant dateLTI\u2019s granted31.12.2024 Expiry dateprice rangeOthers (not specified) 12/7/2021 303,000 211,160 12/7/2028 20.89 Sum 303,000 211,160 New LTIPNumber of Number of LTI\u2019s vested at Exercise Name Grant dateLTI\u2019s granted31.12.2024 Expiry dateprice rangeThomas Berge (CEO) 12/7/2022 2,000,000 1,333,333 12/7/2026 8,11 - 10,17 Morten L\u00f8ken Edvardsen (CFO) 12/7/2022 1,250,000 833,333 12/7/2026 8,11 - 10,17 P\u00e5l Marius Brun (CPO) 12/7/2022 1,000,000 666,667 12/7/2026 8,11 - 10,17 Lin Austb\u00f812/7/2022 - 833,333 12/7/2026 8,11 - 10,17 (Chief People and Strategy Officer)Rune Strandli (CTO) 12/7/2022 1,000,000 666,667 12/7/2026 8,11 - 10,17 Benoit Bole (COO Western Europe) 12/7/2022 1,250,000 816,667 12/7/2026 8,11 - 10,17 Ina Rasmussen (COO Northern Europe) 12/7/2022 1,250,000 833,333 12/7/2026 8,11 - 10,17 Riccardo Dragoni (COO Central Europe) 12/7/2022 833,334 416,667 12/7/2026 8,11 - 10,17 Others (not specified) 12/7/2022 6,946,001 1,585,319 12/7/2026 8,11 - 10,17 Sum 15,529,335 7,985,319 Number of COB Options Average priceVested COB Options 2,000,000 11.70 Unvested COB Options - - Total outstanding COB Options 2,000,000 Number of Expiration Strike priceoptions Vesting datedateUnvested COB Options - - 8/31/2024 8/31/2031Sum - Q4 2024 2024Number of Number of options Average priceoptions Average priceTotal unvested COB Options - - - - Assigned COB Options 2,000,000 11.70 - 11.70 Cancelled COB Options - - - - Dropped COB Options - - - - Expired COB Options in the period - - - - Exercised COB Options in the period - - - - Total outstanding COB Options 2,000,000 11.70 - 11.70 Number of Number of COB Options COB Options vested at Exercise price Name Grant dategranted31.12.2024 Expiry daterangeAndre Alexander Christensen8/31/2022 2,000,000 2,000,000 8/31/2031 11.70 (Chair)Sum 2,000,000 2,000,000 Fair value of the LTI\u2019s and RSU\u2019s are calculated using an adjusted (for exercise behavior) Black-Scholes option pricing model.The following assumptions are used in the calculations:\u2022 The share price is set equal to the offer price of Link Mobility Group Holding ASA at the time of grant.\u2022 The strike price for the RSUs is set equal to the nominal share value (NOK 0.005).We assume that historical volatility of a selected group comparable companies within the CPaaS-univserse is an indication of future volatility.Expected volatility is set identical to historical volatility, equal to 61 % in the calculations for the first LTI\u2019s and for the RSU\u2019s. The volatility for the LTI II is estimated at 51%, and the volatility for the COB options is estimated at 59.99%.We assume that the employees will exercise the options at the mid-point between earliest and latest possible exercise opportunity. For each grant, the expected lifetime is set to vesting plus 1-year.Risk free rate used in the calculations is set equal to the rate of Norwegian treasury bills and Government Bonds corresponding to the lifetime of the option.Remuneration to the Board of DirectorsThe Board of Directors who did not waive their right to remuneration received payment in July/August 2024. On May 29, 2024, the Company\u2019s general meeting resolved the following remuneration for the Board of Directors for the period from May 29, 2024 until the annual general meeting is held in 2025:Name RemunerationBoard of Remuneration Audit CommitteeDirectorsCommitteeAndre Alexander Christensen (Chair) 700,000 65,000 85,000 Sabrina Emma Gosman 430,000 - - Robert Joseph Nicewicz Jr. 430,000 43,000 - Grethe Viksaas 430,000 - 58,000 Sara Murby Forste 430,000 - 58,000 Jens Rugseth 430,000 - - Robert Joseph Nicewicz Jr. and Sabrina Emma Gosman have all waived their right to remuneration and therefore the Company will not remunerate these board members in accordance with the amounts set in the table above.Remuneration to the Nomination CommitteeOn May 29, 2024, the Company\u2019s general meeting resolved the following remuneration for the nomination committee for the period from May 29, 2024 until the annual general meeting is held in 2025:Name RemunerationTor Malmo (Chair) 65,000 Oddny Svergja 43,000 No loans, advances, or guarantees have been granted to key group employees, Board members, or nomination committee members.",
"dimensions": {
"concept": "ifrs-full:DisclosureOfEmployeeBenefitsExplanatory",
"language": "en",
"entity": "scheme:2549006RH08XJGKC2Y14",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
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},
"f1__s8__6__50": {
"value": "Note 10 Other operating expenses (Amounts in NOK 1000)2024 2023Advisors and consultants 59,711 58,888 IT, licenses and hosting 116,047 100,653 Restructuring costs 29,869 7,658 Cost related to acquisition of subsidiaries* 34,263 6,384 Sales and marketing cost 37,523 39,338 Cost for premises 13,987 11,217 Inventory and equipment 5,983 6,104 Bad debts expense 24,938 7,502 Other expenses** 51,610 46,706 Total other operating expenses - continuing operations 373,932 284,450 Total other operating expenses - discontinued operations - 72,978 * This expense line item includes costs related to both completed and ongoing acquisitions. ** Other expenses include variable operating expenses related to overhead, travel costs and other operating expenses.The table below summarises audit fees for FY2024 (FY2023) and fees for audit related services, tax services and other services incurred by the Group during the period. Fees include both Norwegian and foreign subsidiaries. 2024 2023Audit fee* 8,990 10,116 Other attestation services 386 397 Tax consulting services - 310 Other services 248 270 Total fee to auditor 9,624 11,093 *In addition to the audit fees presented above NOK 716k (2023: NOK 102k), is remunerated to auditors other than PwC.Fees paid for Message Broadcast LLC are included above. In 2024, these audit fees were nil (2023: NOK 568k).",
"dimensions": {
"concept": "ifrs-full:DisclosureOfOtherOperatingExpenseExplanatory",
"language": "en",
"entity": "scheme:2549006RH08XJGKC2Y14",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
}
},
"f1__s8__6__49": {
"value": "Note 10 Other operating expenses (Amounts in NOK 1000)2024 2023Advisors and consultants 59,711 58,888 IT, licenses and hosting 116,047 100,653 Restructuring costs 29,869 7,658 Cost related to acquisition of subsidiaries* 34,263 6,384 Sales and marketing cost 37,523 39,338 Cost for premises 13,987 11,217 Inventory and equipment 5,983 6,104 Bad debts expense 24,938 7,502 Other expenses** 51,610 46,706 Total other operating expenses - continuing operations 373,932 284,450 Total other operating expenses - discontinued operations - 72,978 * This expense line item includes costs related to both completed and ongoing acquisitions. ** Other expenses include variable operating expenses related to overhead, travel costs and other operating expenses.The table below summarises audit fees for FY2024 (FY2023) and fees for audit related services, tax services and other services incurred by the Group during the period. Fees include both Norwegian and foreign subsidiaries. 2024 2023Audit fee* 8,990 10,116 Other attestation services 386 397 Tax consulting services - 310 Other services 248 270 Total fee to auditor 9,624 11,093 *In addition to the audit fees presented above NOK 716k (2023: NOK 102k), is remunerated to auditors other than PwC.Fees paid for Message Broadcast LLC are included above. In 2024, these audit fees were nil (2023: NOK 568k).",
"dimensions": {
"concept": "ifrs-full:DisclosureOfOtherOperatingIncomeExpenseExplanatory",
"language": "en",
"entity": "scheme:2549006RH08XJGKC2Y14",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
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},
"f1__s8__6__53": {
"value": "Note 11 Net finance income and expenses(Amounts in NOK 1000)The Group\u2019s finance income and expense is comprised of gains (losses) from foreign exchange and from exposure to interest expenses related to loans from financial institutions. Interest amounts are presented as a sum of interest on borrowings offset by amortised cost recognised in the profit and loss. All categories of financial income and expense are presented on a net basis.Net financial income and expenses 2024 2023Net currency exchange gains (losses)\u00b9 36,678 44,319 Net interest expense -64,097 -139,667 Net other financial income (expense) -15,951 6,002 Total finance income from continuing operations -43,370 -89,345 Total finance income (expense) from discontinued operations - -9,520 Net interest expense 2024 2023Interest expense financial institutions - - Interest expense leases -2,476 -3,336 Interest expense bond loan -160,767 -142,704 Other interest income (expenses) 99,146 6,373 Total net interest expense from continuing operations -64,097 -139,667 Total net interest expense from discontinued operations - 9 Net other financial income (expenses) 2024 2023Bond loan call premium 15,503 - Earn-out payment from M&A transactions\u00b2 - 5,845 Other financial (expenses) income 448 157 Total net other financial income from continuing operations 15,951 6,002 Total net other financial expenses from discontinued operations - -9,510 \u00b9 Foreign currency gain/loss is presented on a net basis here and in the Consolidated Statement of Profit and Loss. Exposure to fluctuations in foreign currency comes from external lending denominated in EUR. Refer to note 19 (interest-bearing liabilities) and note 20 (financial instruments, risk management objectives, and policies) for further details.\u00b2 Purchase price of subsidiaries \u2013 earn-out Periodically, the Group acquires subsidiaries where the preliminary purchase price is based on an assumption that the acquired company will achieve a target EBITDA for the current financial year. The final purchase price is subject to an upwards or downwards earn-out adjustment based on the company\u2019s actual achieved EBITDA. The earn-out adjustment is accounted for in the income statement as finance income or expense. Adjustments made are: 2023 - This is a reversal of the remaining earn-out amount previously accrued for the acquisitionof Marketing Platform.",
"dimensions": {
"concept": "ifrs-full:DisclosureOfFinanceCostExplanatory",
"language": "en",
"entity": "scheme:2549006RH08XJGKC2Y14",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
}
},
"f1__s8__6__52": {
"value": "Note 11 Net finance income and expenses(Amounts in NOK 1000)The Group\u2019s finance income and expense is comprised of gains (losses) from foreign exchange and from exposure to interest expenses related to loans from financial institutions. Interest amounts are presented as a sum of interest on borrowings offset by amortised cost recognised in the profit and loss. All categories of financial income and expense are presented on a net basis.Net financial income and expenses 2024 2023Net currency exchange gains (losses)\u00b9 36,678 44,319 Net interest expense -64,097 -139,667 Net other financial income (expense) -15,951 6,002 Total finance income from continuing operations -43,370 -89,345 Total finance income (expense) from discontinued operations - -9,520 Net interest expense 2024 2023Interest expense financial institutions - - Interest expense leases -2,476 -3,336 Interest expense bond loan -160,767 -142,704 Other interest income (expenses) 99,146 6,373 Total net interest expense from continuing operations -64,097 -139,667 Total net interest expense from discontinued operations - 9 Net other financial income (expenses) 2024 2023Bond loan call premium 15,503 - Earn-out payment from M&A transactions\u00b2 - 5,845 Other financial (expenses) income 448 157 Total net other financial income from continuing operations 15,951 6,002 Total net other financial expenses from discontinued operations - -9,510 \u00b9 Foreign currency gain/loss is presented on a net basis here and in the Consolidated Statement of Profit and Loss. Exposure to fluctuations in foreign currency comes from external lending denominated in EUR. Refer to note 19 (interest-bearing liabilities) and note 20 (financial instruments, risk management objectives, and policies) for further details.\u00b2 Purchase price of subsidiaries \u2013 earn-out Periodically, the Group acquires subsidiaries where the preliminary purchase price is based on an assumption that the acquired company will achieve a target EBITDA for the current financial year. The final purchase price is subject to an upwards or downwards earn-out adjustment based on the company\u2019s actual achieved EBITDA. The earn-out adjustment is accounted for in the income statement as finance income or expense. Adjustments made are: 2023 - This is a reversal of the remaining earn-out amount previously accrued for the acquisitionof Marketing Platform.",
"dimensions": {
"concept": "ifrs-full:DisclosureOfFinanceIncomeExplanatory",
"language": "en",
"entity": "scheme:2549006RH08XJGKC2Y14",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
}
},
"f1__s8__6__51": {
"value": "Note 11 Net finance income and expenses(Amounts in NOK 1000)The Group\u2019s finance income and expense is comprised of gains (losses) from foreign exchange and from exposure to interest expenses related to loans from financial institutions. Interest amounts are presented as a sum of interest on borrowings offset by amortised cost recognised in the profit and loss. All categories of financial income and expense are presented on a net basis.Net financial income and expenses 2024 2023Net currency exchange gains (losses)\u00b9 36,678 44,319 Net interest expense -64,097 -139,667 Net other financial income (expense) -15,951 6,002 Total finance income from continuing operations -43,370 -89,345 Total finance income (expense) from discontinued operations - -9,520 Net interest expense 2024 2023Interest expense financial institutions - - Interest expense leases -2,476 -3,336 Interest expense bond loan -160,767 -142,704 Other interest income (expenses) 99,146 6,373 Total net interest expense from continuing operations -64,097 -139,667 Total net interest expense from discontinued operations - 9 Net other financial income (expenses) 2024 2023Bond loan call premium 15,503 - Earn-out payment from M&A transactions\u00b2 - 5,845 Other financial (expenses) income 448 157 Total net other financial income from continuing operations 15,951 6,002 Total net other financial expenses from discontinued operations - -9,510 \u00b9 Foreign currency gain/loss is presented on a net basis here and in the Consolidated Statement of Profit and Loss. Exposure to fluctuations in foreign currency comes from external lending denominated in EUR. Refer to note 19 (interest-bearing liabilities) and note 20 (financial instruments, risk management objectives, and policies) for further details.\u00b2 Purchase price of subsidiaries \u2013 earn-out Periodically, the Group acquires subsidiaries where the preliminary purchase price is based on an assumption that the acquired company will achieve a target EBITDA for the current financial year. The final purchase price is subject to an upwards or downwards earn-out adjustment based on the company\u2019s actual achieved EBITDA. The earn-out adjustment is accounted for in the income statement as finance income or expense. Adjustments made are: 2023 - This is a reversal of the remaining earn-out amount previously accrued for the acquisitionof Marketing Platform.",
"dimensions": {
"concept": "ifrs-full:DisclosureOfFinanceIncomeExpenseExplanatory",
"language": "en",
"entity": "scheme:2549006RH08XJGKC2Y14",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
}
},
"f1__s8__6__54": {
"value": "Note 12 Earnings per share (Amounts in NOK 1000)The Group\u2019s earnings per share are calculated as below:2024 2023Net earnings (loss) from continuing operations 171,544 38,356 Net income from discontinued operations 84,025 28,926 Owners of LINK Mobility Group Holding ASA 255,483 67,282 Weighted average number of ordinary shares (basic) at December 31 298,282 297,059 Basic earnings (loss) per share from total operations (NOK) 0.86 0.23 Basic earnings (loss) per share from continuing operations (NOK) 0.58 0.13 Basic earnings per share from discontinued operations (NOK) 0.28 0.10 Weighted average number of ordinary shares (diluted)Weighted average number of ordinary shares (basic) 298,282 297,059 Effect of share options on issue 8,203 8,478 Weighted average number of ordinary shares (diluted) at December 31 306,485 305,537 Diluted earnings (loss) per share from total operations (NOK) 0.83 0.22 Diluted earnings (loss) per share from continuing operations (NOK) 0.56 0.13 Diluted earnings per share from discontinued operations (NOK) 0.27 0.09 Number of outstanding ordinary shares per 01.01 297,059 295,890 Number of outstanding ordinary shares per 12.31 298,282 297,059 Note 12 Earnings per share (Amounts in NOK 1000)The Group\u2019s earnings per share are calculated as below:2024 2023Net earnings (loss) from continuing operations 171,544 38,356 Net income from discontinued operations 84,025 28,926 Owners of LINK Mobility Group Holding ASA 255,483 67,282 Weighted average number of ordinary shares (basic) at December 31 298,282 297,059 Basic earnings (loss) per share from total operations (NOK) 0.86 0.23 Basic earnings (loss) per share from continuing operations (NOK) 0.58 0.13 Basic earnings per share from discontinued operations (NOK) 0.28 0.10 Weighted average number of ordinary shares (diluted)Weighted average number of ordinary shares (basic) 298,282 297,059 Effect of share options on issue 8,203 8,478 Weighted average number of ordinary shares (diluted) at December 31 306,485 305,537 Diluted earnings (loss) per share from total operations (NOK) 0.83 0.22 Diluted earnings (loss) per share from continuing operations (NOK) 0.56 0.13 Diluted earnings per share from discontinued operations (NOK) 0.27 0.09 Number of outstanding ordinary shares per 01.01 297,059 295,890 Number of outstanding ordinary shares per 12.31 298,282 297,059",
"dimensions": {
"concept": "ifrs-full:DisclosureOfEarningsPerShareExplanatory",
"language": "en",
"entity": "scheme:2549006RH08XJGKC2Y14",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
}
},
"f1__s8__6__55": {
"value": "Note 13 Transactions with related parties (Amounts in NOK 1000)Balances and transactions between LINK Mobility Group Holding ASA and its subsidiaries, which are related parties of LINK Mobility Group AS, have been eliminated on consolidation and are not disclosed in this note.During the year, the Group has not entered into any transactions with related parties.At December 31, 2024, the Company had no balances with related parties.",
"dimensions": {
"concept": "ifrs-full:DisclosureOfRelatedPartyExplanatory",
"language": "en",
"entity": "scheme:2549006RH08XJGKC2Y14",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
}
},
"f1__s8__6__60": {
"value": "Note 14 Intangible assets (Amounts in NOK 1000)Goodwill and intangible assets acquired in a business combination are recognised initially as set out in note 3, section 3.3, Business Combinations.Amortisation of intangible assets are based on the following estimated useful lives:Goodwill IndefiniteTradename 25 yearsCustomer relations/contracts 7-10 yearsTechnology 3-10 yearsGoodwill is not amortised but is reviewed for impairment at least annually, or more frequently when there is an indication that the cash-generating unit to which goodwill has been allocated, may be impaired. Goodwill is allocated to each of the Group\u2019s cash-generating units (or groups of cash-generating units) expected to benefit from the synergies of the combination. If the recoverable amount of the cash-generating unit is less than the carrying amount of the unit, the impairment loss is allocated first to reduce the carrying amount of any goodwill allocated to the unit and then to the other assets of the unit pro-rata on the basis of the carrying amount of each asset in the unit. An impairment loss recognised for goodwill is not reversed in a subsequent period. On disposal of a cash generating unit, the attributable amount of goodwill is included in the determination of the gain or loss on disposal in the income statement.Intangible assets acquired in a business combination and recognised separately from goodwill, such as tradename and customer relations are recognised initially at their fair value at the acquisition date (which is regarded as their cost).Subsequent to initial recognition, intangible assets acquired in a business combination are reported at cost less accumulated amortisation and accumulated impairment losses. Amortisation is recognised on a straight-line basis over their estimated useful lives. The estimated useful life and amortisation method are reviewed at the end of each reporting period, with the effect of any changes in estimate being accounted for on a prospective basis. Intangible assets with indefinite useful lives are carried at cost less accumulated impairment losses.Separately acquired intangible assetsIntangible assets with finite useful lives such as technology, that are acquired separately are carried at cost less accumulated amortisation and accumulated impairment losses. Subsequent to initial recognition, separately acquired intangible assets are reported at cost less accumulated amortisation and accumulated impairment losses, on the same basis as intangible assets that are acquired in a business combination.Internally generated intangible assets \u2013 TechnologyExpenditure on development activities is recognised as an expense in the period in which it is incurred. An internally generated intangible asset arising from development of the Group\u2019s technical platforms and products is recognised if, and only if, all the following conditions have been demonstrated:\u2022 the technical feasibility of completing the intangible asset so that it will be available for use or sale; \u2022 the intention to complete the intangible asset and use or sell it; \u2022 the ability to use or sell the intangible asset; \u2022 how the intangible asset will generate probable future economic benefits; \u2022 the availability of adequate technical, financial and other resources to complete the development and to use or sell the intangible asset; and\u2022 the ability to measure reliably the expenditure attributable to the intangible asset during its development.The amount initially recognised for internally generated intangible assets is the sum of the expenditure incurred from the date when the intangible asset first meets the recognition criteria listed above. Where no internally generated intangible asset can be recognised, development expenditures are expensed as incurred.Subsequent to initial recognition, internally-generated intangible assets are reported at cost less accumulated amortisation and accumulated impairment losses, on the same basis as intangible assets that are acquired in a business combination.In FY2024, as in the prior year, internally generated intangible asset investment has been focussed on increasing the CPaaS offering. Investment is in line with the LINK strategy to expand from one-way communication services into a global leader in the CPaaS industry. MyLINK Connect and MyLINK MarketingPlatform are two examples of internally generated intangible assets. SSU also contributes to this category and combined, all contribute to the CPaaS offering. Expenditure on development activities is recognised as an expense in the period in which it is incurred. An internally generated intangible asset arising from development of the Group\u2019s technical platforms and products is recognised if, and only if, all the following conditions have been demonstrated: Customer Year ended December 31, 2023 Trade name relations Technology Goodwill Total Opening net book value 281,931 1,737,970 909,601 5,788,277 8,717,780 Effect of discontinued operations - -939,848 -139,521 -1,714,886 -2,794,255 Net additions from acquired - - - - - businesses Additions in period - 10,089 105,899 - 115,988 Exchange differences 603 81,909 37,404 315,479 435,396 Amortization charge -13,209 -146,211 -153,017 - -312,437 Closing net book amount 269,326 743,910 760,365 4,388,870 6,162,471 Closing net book amount - 827,341 173,477 1,713,079 2,713,897 (assets held for sale) At December 31, 2023 Cost 339,344 1,539,095 1,378,263 4,569,230 7,825,933 Accumulated amortisation and -70,019 -795,186 - 617,898 -180,360 -1,663,462 impairment Net book amount 269,326 743,910 760,365 4,388,870 6,162,471 Estimated useful life 25 years 7-10 years 3-10 years Indefinite Amortisation method Linear Linear Linear Customer Year ended December 31, 2024 Trade name relations Technology Goodwill Total Opening net book value 269,326 743,910 760,365 4,388,870 6,162,471 Net additions from acquired 9,977 77,650 21,890 113,232 222,749 businesses Additions in period -38 -451 141,752 - 141,263 Exchange differences 443 27,393 19,911 171,012 218,758 Amortization charge -13,209 -149,192 -147,608 - -310,009 Closing net book amount 266,498 699,309 796,311 4,673,114 6,435,233 At December 31, 2024 Cost 349,090 1,894,983 1,568,928 4,853,474 8,666,475 Accumulated amortisation and -82,591 -1,195,674 -772,617 -180,360 -2,231,243 impairment Net book amount 266,498 699,309 796,311 4,673,114 6,435,233 Estimated useful life 25 years 7-10 years 3-10 years Indefinite Amortisation method Linear Linear Linear Trade nameThe LINK name was established in 2008 and has become a known name within the mobile solutions industry. The estimated useful life is determined to be 25 years and is amortised accordingly. The trade name has not been allocated to specific CGUs.Customer RelationshipsFor customer relationships identified and recognised through business combinations, the amortisation period is estimated to be between 7-10 years. The amortisation period is based on an analysis of customer churn and the remaining useful life of the customer relationships recogonised in the balance sheet.TechnologyAmortisation of capital expenditure for the development of Group technology is between 3-10 years. For technology acquired through business combinations, the amortisation period is between 7-10 years based on an evalution of the technological solution.GoodwillGoodwill generated from business combinations is primarily related to anticipated growth prospects for the acquired businesses. Impairment testGoodwill and other intangible assets with an indefinite useful life (i.e. trade name) are not amortised. They are tested for impairment on an annual basis at a cash generating unit (hereafter \u201cCGU\u201d) level, and more frequently if there are indications that amounts may be impaired. In accordance with IAS 36 - Impairment of Assets, the carrying amount of the CGU to which goodwill has been allocated is compared with the recoverable amount of the CGU. The recoverable amount is determined based on value-in-use calculations. These calculations use cash flow projections reflective of management\u2019s best estimate extended over a five year period. The assumed growth rate has been based on the management growth estimate for the next five years and subsequently reduced to 2% for the purpose of determining the terminal value. As terminal value is applied to revenue and COGS, the gross margin percentage holds stable after the 5-year forecast period; the same is true for EBIDTA margin percentage and EBIT percentage.Certain key assumptions are:Low Range High RangePre-tax discount rates (WACC) 7.00% 14.90%Revenue growth 5.00% 25.00%Gross Margin % 9.00% 45.60%EBITDA Margin % 5.50% 33.00%Total impairment headroom is NOK 6 867 million (NOK 7 759 million). Development of WACC discount rates over the past two years have contributed to reduced impairment headroom overall.The Group, based on an assessment of the facts and circumstances, has concluded that each country constitutes a separate CGU. Goodwill is monitored at the country level for impairment purposes. Goodwill has been allocated to each CGU as presented in the table below. Goodwill2024 2023Norway* 806,490 806,490 Sweden 213,251 209,874 Denmark 353,460 337,056 Finland 247,895 235,391 Germany* 821,001 782,405 Spain 100,039 26,378 Poland 321,532 301,861 Bulgaria 73,212 69,770 France* 466,685 444,746 Switzerland 218,399 211,548 Italy 299,037 284,896 Austria* 534,141 509,030 United Kingdom 27,731 7,513 Hungary 14,954 15,313 Netherlands 153,830 146,598 Portugal 21,457 - Total 4,673,114 4,388,870 Total (held for sale) - 1,713,079 * These CGU\u2019s are deemed significant.Key assumptions specific to significant CGU\u2019s (see below) are:Norway GermanyLow Range High Range Low Range High RangePre-tax discount rates (WACC) 10.10% 10.10% 9.40% 9.40%Revenue growth 15.00% 20.00% 11.00% 12.00%Gross Margin % 31.00% 32.00% 18.00% 19.00%EBITDA Margin % 21.00% 23.50% 11.00% 13.30%France AustriaLow Range High Range Low Range High RangePre-tax discount rates (WACC) 10.50% 10.50% 9.70% 9.70%Revenue growth 10.00% 15.70% 10.00% 10.00%Gross Margin % 25.00% 25.00% 43.00% 44.00%EBITDA Margin % 14.00% 15.00% 29.00% 31.00%The impairment test shows that the recoverable amounts significantly exceed the carrying amount of the CGUs.Sensitivity analysisIn connection with the impairment testing of intangible assets, a sensitivity analysis has been performed. The sensitivity analysis uses terminal growth of 2% after five years. The estimates used to determine future cash flows and WACC when calculating value in use are subject to uncertainty. The assumptions are described as follows:Budgeted period - The basis for the projection of the future cash flows estimated is based on the financial budget of one year. The budget in combination with the forecasts represent management\u2019s best estimate of the rance of economic conditions that will exist over a five-year period. The forecasted years are estimated based on the company\u2019s strategic initiatives.Local currency and Fx rates - All CGU\u2019s forecasted projections are done using NOK.Terminal value - terminal value is calculated using the Gordon growth formula based on previous year cash-flow, user-specified long-term growth and WACC for the specific CGU.WACC - future cash flows are discounted to present value using a discounted rate based on a calculation of a weighted average cost of capital (WACC). The pre-tax WACC is based on an average interest rate adjusted for each CGU.Management have concluded that no forseable change in any of the key assumptions used in the impairment test would cause the carrying amounts of the cash-generating units with significant goodwill to exceed recoverable amounts.",
"dimensions": {
"concept": "ifrs-full:DisclosureOfGoodwillExplanatory",
"language": "en",
"entity": "scheme:2549006RH08XJGKC2Y14",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
}
},
"f1__s8__6__59": {
"value": "Note 14 Intangible assets (Amounts in NOK 1000)Goodwill and intangible assets acquired in a business combination are recognised initially as set out in note 3, section 3.3, Business Combinations.Amortisation of intangible assets are based on the following estimated useful lives:Goodwill IndefiniteTradename 25 yearsCustomer relations/contracts 7-10 yearsTechnology 3-10 yearsGoodwill is not amortised but is reviewed for impairment at least annually, or more frequently when there is an indication that the cash-generating unit to which goodwill has been allocated, may be impaired. Goodwill is allocated to each of the Group\u2019s cash-generating units (or groups of cash-generating units) expected to benefit from the synergies of the combination. If the recoverable amount of the cash-generating unit is less than the carrying amount of the unit, the impairment loss is allocated first to reduce the carrying amount of any goodwill allocated to the unit and then to the other assets of the unit pro-rata on the basis of the carrying amount of each asset in the unit. An impairment loss recognised for goodwill is not reversed in a subsequent period. On disposal of a cash generating unit, the attributable amount of goodwill is included in the determination of the gain or loss on disposal in the income statement.Intangible assets acquired in a business combination and recognised separately from goodwill, such as tradename and customer relations are recognised initially at their fair value at the acquisition date (which is regarded as their cost).Subsequent to initial recognition, intangible assets acquired in a business combination are reported at cost less accumulated amortisation and accumulated impairment losses. Amortisation is recognised on a straight-line basis over their estimated useful lives. The estimated useful life and amortisation method are reviewed at the end of each reporting period, with the effect of any changes in estimate being accounted for on a prospective basis. Intangible assets with indefinite useful lives are carried at cost less accumulated impairment losses.Separately acquired intangible assetsIntangible assets with finite useful lives such as technology, that are acquired separately are carried at cost less accumulated amortisation and accumulated impairment losses. Subsequent to initial recognition, separately acquired intangible assets are reported at cost less accumulated amortisation and accumulated impairment losses, on the same basis as intangible assets that are acquired in a business combination.Internally generated intangible assets \u2013 TechnologyExpenditure on development activities is recognised as an expense in the period in which it is incurred. An internally generated intangible asset arising from development of the Group\u2019s technical platforms and products is recognised if, and only if, all the following conditions have been demonstrated:\u2022 the technical feasibility of completing the intangible asset so that it will be available for use or sale; \u2022 the intention to complete the intangible asset and use or sell it; \u2022 the ability to use or sell the intangible asset; \u2022 how the intangible asset will generate probable future economic benefits; \u2022 the availability of adequate technical, financial and other resources to complete the development and to use or sell the intangible asset; and\u2022 the ability to measure reliably the expenditure attributable to the intangible asset during its development.The amount initially recognised for internally generated intangible assets is the sum of the expenditure incurred from the date when the intangible asset first meets the recognition criteria listed above. Where no internally generated intangible asset can be recognised, development expenditures are expensed as incurred.Subsequent to initial recognition, internally-generated intangible assets are reported at cost less accumulated amortisation and accumulated impairment losses, on the same basis as intangible assets that are acquired in a business combination.In FY2024, as in the prior year, internally generated intangible asset investment has been focussed on increasing the CPaaS offering. Investment is in line with the LINK strategy to expand from one-way communication services into a global leader in the CPaaS industry. MyLINK Connect and MyLINK MarketingPlatform are two examples of internally generated intangible assets. SSU also contributes to this category and combined, all contribute to the CPaaS offering. Expenditure on development activities is recognised as an expense in the period in which it is incurred. An internally generated intangible asset arising from development of the Group\u2019s technical platforms and products is recognised if, and only if, all the following conditions have been demonstrated: Customer Year ended December 31, 2023 Trade name relations Technology Goodwill Total Opening net book value 281,931 1,737,970 909,601 5,788,277 8,717,780 Effect of discontinued operations - -939,848 -139,521 -1,714,886 -2,794,255 Net additions from acquired - - - - - businesses Additions in period - 10,089 105,899 - 115,988 Exchange differences 603 81,909 37,404 315,479 435,396 Amortization charge -13,209 -146,211 -153,017 - -312,437 Closing net book amount 269,326 743,910 760,365 4,388,870 6,162,471 Closing net book amount - 827,341 173,477 1,713,079 2,713,897 (assets held for sale) At December 31, 2023 Cost 339,344 1,539,095 1,378,263 4,569,230 7,825,933 Accumulated amortisation and -70,019 -795,186 - 617,898 -180,360 -1,663,462 impairment Net book amount 269,326 743,910 760,365 4,388,870 6,162,471 Estimated useful life 25 years 7-10 years 3-10 years Indefinite Amortisation method Linear Linear Linear Customer Year ended December 31, 2024 Trade name relations Technology Goodwill Total Opening net book value 269,326 743,910 760,365 4,388,870 6,162,471 Net additions from acquired 9,977 77,650 21,890 113,232 222,749 businesses Additions in period -38 -451 141,752 - 141,263 Exchange differences 443 27,393 19,911 171,012 218,758 Amortization charge -13,209 -149,192 -147,608 - -310,009 Closing net book amount 266,498 699,309 796,311 4,673,114 6,435,233 At December 31, 2024 Cost 349,090 1,894,983 1,568,928 4,853,474 8,666,475 Accumulated amortisation and -82,591 -1,195,674 -772,617 -180,360 -2,231,243 impairment Net book amount 266,498 699,309 796,311 4,673,114 6,435,233 Estimated useful life 25 years 7-10 years 3-10 years Indefinite Amortisation method Linear Linear Linear Trade nameThe LINK name was established in 2008 and has become a known name within the mobile solutions industry. The estimated useful life is determined to be 25 years and is amortised accordingly. The trade name has not been allocated to specific CGUs.Customer RelationshipsFor customer relationships identified and recognised through business combinations, the amortisation period is estimated to be between 7-10 years. The amortisation period is based on an analysis of customer churn and the remaining useful life of the customer relationships recogonised in the balance sheet.TechnologyAmortisation of capital expenditure for the development of Group technology is between 3-10 years. For technology acquired through business combinations, the amortisation period is between 7-10 years based on an evalution of the technological solution.GoodwillGoodwill generated from business combinations is primarily related to anticipated growth prospects for the acquired businesses. Impairment testGoodwill and other intangible assets with an indefinite useful life (i.e. trade name) are not amortised. They are tested for impairment on an annual basis at a cash generating unit (hereafter \u201cCGU\u201d) level, and more frequently if there are indications that amounts may be impaired. In accordance with IAS 36 - Impairment of Assets, the carrying amount of the CGU to which goodwill has been allocated is compared with the recoverable amount of the CGU. The recoverable amount is determined based on value-in-use calculations. These calculations use cash flow projections reflective of management\u2019s best estimate extended over a five year period. The assumed growth rate has been based on the management growth estimate for the next five years and subsequently reduced to 2% for the purpose of determining the terminal value. As terminal value is applied to revenue and COGS, the gross margin percentage holds stable after the 5-year forecast period; the same is true for EBIDTA margin percentage and EBIT percentage.Certain key assumptions are:Low Range High RangePre-tax discount rates (WACC) 7.00% 14.90%Revenue growth 5.00% 25.00%Gross Margin % 9.00% 45.60%EBITDA Margin % 5.50% 33.00%Total impairment headroom is NOK 6 867 million (NOK 7 759 million). Development of WACC discount rates over the past two years have contributed to reduced impairment headroom overall.The Group, based on an assessment of the facts and circumstances, has concluded that each country constitutes a separate CGU. Goodwill is monitored at the country level for impairment purposes. Goodwill has been allocated to each CGU as presented in the table below. Goodwill2024 2023Norway* 806,490 806,490 Sweden 213,251 209,874 Denmark 353,460 337,056 Finland 247,895 235,391 Germany* 821,001 782,405 Spain 100,039 26,378 Poland 321,532 301,861 Bulgaria 73,212 69,770 France* 466,685 444,746 Switzerland 218,399 211,548 Italy 299,037 284,896 Austria* 534,141 509,030 United Kingdom 27,731 7,513 Hungary 14,954 15,313 Netherlands 153,830 146,598 Portugal 21,457 - Total 4,673,114 4,388,870 Total (held for sale) - 1,713,079 * These CGU\u2019s are deemed significant.Key assumptions specific to significant CGU\u2019s (see below) are:Norway GermanyLow Range High Range Low Range High RangePre-tax discount rates (WACC) 10.10% 10.10% 9.40% 9.40%Revenue growth 15.00% 20.00% 11.00% 12.00%Gross Margin % 31.00% 32.00% 18.00% 19.00%EBITDA Margin % 21.00% 23.50% 11.00% 13.30%France AustriaLow Range High Range Low Range High RangePre-tax discount rates (WACC) 10.50% 10.50% 9.70% 9.70%Revenue growth 10.00% 15.70% 10.00% 10.00%Gross Margin % 25.00% 25.00% 43.00% 44.00%EBITDA Margin % 14.00% 15.00% 29.00% 31.00%The impairment test shows that the recoverable amounts significantly exceed the carrying amount of the CGUs.Sensitivity analysisIn connection with the impairment testing of intangible assets, a sensitivity analysis has been performed. The sensitivity analysis uses terminal growth of 2% after five years. The estimates used to determine future cash flows and WACC when calculating value in use are subject to uncertainty. The assumptions are described as follows:Budgeted period - The basis for the projection of the future cash flows estimated is based on the financial budget of one year. The budget in combination with the forecasts represent management\u2019s best estimate of the rance of economic conditions that will exist over a five-year period. The forecasted years are estimated based on the company\u2019s strategic initiatives.Local currency and Fx rates - All CGU\u2019s forecasted projections are done using NOK.Terminal value - terminal value is calculated using the Gordon growth formula based on previous year cash-flow, user-specified long-term growth and WACC for the specific CGU.WACC - future cash flows are discounted to present value using a discounted rate based on a calculation of a weighted average cost of capital (WACC). The pre-tax WACC is based on an average interest rate adjusted for each CGU.Management have concluded that no forseable change in any of the key assumptions used in the impairment test would cause the carrying amounts of the cash-generating units with significant goodwill to exceed recoverable amounts.",
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"concept": "ifrs-full:DisclosureOfIntangibleAssetsExplanatory",
"language": "en",
"entity": "scheme:2549006RH08XJGKC2Y14",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
}
},
"f1__s8__6__58": {
"value": "Note 14 Intangible assets (Amounts in NOK 1000)Goodwill and intangible assets acquired in a business combination are recognised initially as set out in note 3, section 3.3, Business Combinations.Amortisation of intangible assets are based on the following estimated useful lives:Goodwill IndefiniteTradename 25 yearsCustomer relations/contracts 7-10 yearsTechnology 3-10 yearsGoodwill is not amortised but is reviewed for impairment at least annually, or more frequently when there is an indication that the cash-generating unit to which goodwill has been allocated, may be impaired. Goodwill is allocated to each of the Group\u2019s cash-generating units (or groups of cash-generating units) expected to benefit from the synergies of the combination. If the recoverable amount of the cash-generating unit is less than the carrying amount of the unit, the impairment loss is allocated first to reduce the carrying amount of any goodwill allocated to the unit and then to the other assets of the unit pro-rata on the basis of the carrying amount of each asset in the unit. An impairment loss recognised for goodwill is not reversed in a subsequent period. On disposal of a cash generating unit, the attributable amount of goodwill is included in the determination of the gain or loss on disposal in the income statement.Intangible assets acquired in a business combination and recognised separately from goodwill, such as tradename and customer relations are recognised initially at their fair value at the acquisition date (which is regarded as their cost).Subsequent to initial recognition, intangible assets acquired in a business combination are reported at cost less accumulated amortisation and accumulated impairment losses. Amortisation is recognised on a straight-line basis over their estimated useful lives. The estimated useful life and amortisation method are reviewed at the end of each reporting period, with the effect of any changes in estimate being accounted for on a prospective basis. Intangible assets with indefinite useful lives are carried at cost less accumulated impairment losses.Separately acquired intangible assetsIntangible assets with finite useful lives such as technology, that are acquired separately are carried at cost less accumulated amortisation and accumulated impairment losses. Subsequent to initial recognition, separately acquired intangible assets are reported at cost less accumulated amortisation and accumulated impairment losses, on the same basis as intangible assets that are acquired in a business combination.Internally generated intangible assets \u2013 TechnologyExpenditure on development activities is recognised as an expense in the period in which it is incurred. An internally generated intangible asset arising from development of the Group\u2019s technical platforms and products is recognised if, and only if, all the following conditions have been demonstrated:\u2022 the technical feasibility of completing the intangible asset so that it will be available for use or sale; \u2022 the intention to complete the intangible asset and use or sell it; \u2022 the ability to use or sell the intangible asset; \u2022 how the intangible asset will generate probable future economic benefits; \u2022 the availability of adequate technical, financial and other resources to complete the development and to use or sell the intangible asset; and\u2022 the ability to measure reliably the expenditure attributable to the intangible asset during its development.The amount initially recognised for internally generated intangible assets is the sum of the expenditure incurred from the date when the intangible asset first meets the recognition criteria listed above. Where no internally generated intangible asset can be recognised, development expenditures are expensed as incurred.Subsequent to initial recognition, internally-generated intangible assets are reported at cost less accumulated amortisation and accumulated impairment losses, on the same basis as intangible assets that are acquired in a business combination.In FY2024, as in the prior year, internally generated intangible asset investment has been focussed on increasing the CPaaS offering. Investment is in line with the LINK strategy to expand from one-way communication services into a global leader in the CPaaS industry. MyLINK Connect and MyLINK MarketingPlatform are two examples of internally generated intangible assets. SSU also contributes to this category and combined, all contribute to the CPaaS offering. Expenditure on development activities is recognised as an expense in the period in which it is incurred. An internally generated intangible asset arising from development of the Group\u2019s technical platforms and products is recognised if, and only if, all the following conditions have been demonstrated: Customer Year ended December 31, 2023 Trade name relations Technology Goodwill Total Opening net book value 281,931 1,737,970 909,601 5,788,277 8,717,780 Effect of discontinued operations - -939,848 -139,521 -1,714,886 -2,794,255 Net additions from acquired - - - - - businesses Additions in period - 10,089 105,899 - 115,988 Exchange differences 603 81,909 37,404 315,479 435,396 Amortization charge -13,209 -146,211 -153,017 - -312,437 Closing net book amount 269,326 743,910 760,365 4,388,870 6,162,471 Closing net book amount - 827,341 173,477 1,713,079 2,713,897 (assets held for sale) At December 31, 2023 Cost 339,344 1,539,095 1,378,263 4,569,230 7,825,933 Accumulated amortisation and -70,019 -795,186 - 617,898 -180,360 -1,663,462 impairment Net book amount 269,326 743,910 760,365 4,388,870 6,162,471 Estimated useful life 25 years 7-10 years 3-10 years Indefinite Amortisation method Linear Linear Linear Customer Year ended December 31, 2024 Trade name relations Technology Goodwill Total Opening net book value 269,326 743,910 760,365 4,388,870 6,162,471 Net additions from acquired 9,977 77,650 21,890 113,232 222,749 businesses Additions in period -38 -451 141,752 - 141,263 Exchange differences 443 27,393 19,911 171,012 218,758 Amortization charge -13,209 -149,192 -147,608 - -310,009 Closing net book amount 266,498 699,309 796,311 4,673,114 6,435,233 At December 31, 2024 Cost 349,090 1,894,983 1,568,928 4,853,474 8,666,475 Accumulated amortisation and -82,591 -1,195,674 -772,617 -180,360 -2,231,243 impairment Net book amount 266,498 699,309 796,311 4,673,114 6,435,233 Estimated useful life 25 years 7-10 years 3-10 years Indefinite Amortisation method Linear Linear Linear Trade nameThe LINK name was established in 2008 and has become a known name within the mobile solutions industry. The estimated useful life is determined to be 25 years and is amortised accordingly. The trade name has not been allocated to specific CGUs.Customer RelationshipsFor customer relationships identified and recognised through business combinations, the amortisation period is estimated to be between 7-10 years. The amortisation period is based on an analysis of customer churn and the remaining useful life of the customer relationships recogonised in the balance sheet.TechnologyAmortisation of capital expenditure for the development of Group technology is between 3-10 years. For technology acquired through business combinations, the amortisation period is between 7-10 years based on an evalution of the technological solution.GoodwillGoodwill generated from business combinations is primarily related to anticipated growth prospects for the acquired businesses. Impairment testGoodwill and other intangible assets with an indefinite useful life (i.e. trade name) are not amortised. They are tested for impairment on an annual basis at a cash generating unit (hereafter \u201cCGU\u201d) level, and more frequently if there are indications that amounts may be impaired. In accordance with IAS 36 - Impairment of Assets, the carrying amount of the CGU to which goodwill has been allocated is compared with the recoverable amount of the CGU. The recoverable amount is determined based on value-in-use calculations. These calculations use cash flow projections reflective of management\u2019s best estimate extended over a five year period. The assumed growth rate has been based on the management growth estimate for the next five years and subsequently reduced to 2% for the purpose of determining the terminal value. As terminal value is applied to revenue and COGS, the gross margin percentage holds stable after the 5-year forecast period; the same is true for EBIDTA margin percentage and EBIT percentage.Certain key assumptions are:Low Range High RangePre-tax discount rates (WACC) 7.00% 14.90%Revenue growth 5.00% 25.00%Gross Margin % 9.00% 45.60%EBITDA Margin % 5.50% 33.00%Total impairment headroom is NOK 6 867 million (NOK 7 759 million). Development of WACC discount rates over the past two years have contributed to reduced impairment headroom overall.The Group, based on an assessment of the facts and circumstances, has concluded that each country constitutes a separate CGU. Goodwill is monitored at the country level for impairment purposes. Goodwill has been allocated to each CGU as presented in the table below. Goodwill2024 2023Norway* 806,490 806,490 Sweden 213,251 209,874 Denmark 353,460 337,056 Finland 247,895 235,391 Germany* 821,001 782,405 Spain 100,039 26,378 Poland 321,532 301,861 Bulgaria 73,212 69,770 France* 466,685 444,746 Switzerland 218,399 211,548 Italy 299,037 284,896 Austria* 534,141 509,030 United Kingdom 27,731 7,513 Hungary 14,954 15,313 Netherlands 153,830 146,598 Portugal 21,457 - Total 4,673,114 4,388,870 Total (held for sale) - 1,713,079 * These CGU\u2019s are deemed significant.Key assumptions specific to significant CGU\u2019s (see below) are:Norway GermanyLow Range High Range Low Range High RangePre-tax discount rates (WACC) 10.10% 10.10% 9.40% 9.40%Revenue growth 15.00% 20.00% 11.00% 12.00%Gross Margin % 31.00% 32.00% 18.00% 19.00%EBITDA Margin % 21.00% 23.50% 11.00% 13.30%France AustriaLow Range High Range Low Range High RangePre-tax discount rates (WACC) 10.50% 10.50% 9.70% 9.70%Revenue growth 10.00% 15.70% 10.00% 10.00%Gross Margin % 25.00% 25.00% 43.00% 44.00%EBITDA Margin % 14.00% 15.00% 29.00% 31.00%The impairment test shows that the recoverable amounts significantly exceed the carrying amount of the CGUs.Sensitivity analysisIn connection with the impairment testing of intangible assets, a sensitivity analysis has been performed. The sensitivity analysis uses terminal growth of 2% after five years. The estimates used to determine future cash flows and WACC when calculating value in use are subject to uncertainty. The assumptions are described as follows:Budgeted period - The basis for the projection of the future cash flows estimated is based on the financial budget of one year. The budget in combination with the forecasts represent management\u2019s best estimate of the rance of economic conditions that will exist over a five-year period. The forecasted years are estimated based on the company\u2019s strategic initiatives.Local currency and Fx rates - All CGU\u2019s forecasted projections are done using NOK.Terminal value - terminal value is calculated using the Gordon growth formula based on previous year cash-flow, user-specified long-term growth and WACC for the specific CGU.WACC - future cash flows are discounted to present value using a discounted rate based on a calculation of a weighted average cost of capital (WACC). The pre-tax WACC is based on an average interest rate adjusted for each CGU.Management have concluded that no forseable change in any of the key assumptions used in the impairment test would cause the carrying amounts of the cash-generating units with significant goodwill to exceed recoverable amounts.",
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"concept": "ifrs-full:DisclosureOfIntangibleAssetsAndGoodwillExplanatory",
"language": "en",
"entity": "scheme:2549006RH08XJGKC2Y14",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
}
},
"f1__s8__6__57": {
"value": "Note 14 Intangible assets (Amounts in NOK 1000)Goodwill and intangible assets acquired in a business combination are recognised initially as set out in note 3, section 3.3, Business Combinations.Amortisation of intangible assets are based on the following estimated useful lives:Goodwill IndefiniteTradename 25 yearsCustomer relations/contracts 7-10 yearsTechnology 3-10 yearsGoodwill is not amortised but is reviewed for impairment at least annually, or more frequently when there is an indication that the cash-generating unit to which goodwill has been allocated, may be impaired. Goodwill is allocated to each of the Group\u2019s cash-generating units (or groups of cash-generating units) expected to benefit from the synergies of the combination. If the recoverable amount of the cash-generating unit is less than the carrying amount of the unit, the impairment loss is allocated first to reduce the carrying amount of any goodwill allocated to the unit and then to the other assets of the unit pro-rata on the basis of the carrying amount of each asset in the unit. An impairment loss recognised for goodwill is not reversed in a subsequent period. On disposal of a cash generating unit, the attributable amount of goodwill is included in the determination of the gain or loss on disposal in the income statement.Intangible assets acquired in a business combination and recognised separately from goodwill, such as tradename and customer relations are recognised initially at their fair value at the acquisition date (which is regarded as their cost).Subsequent to initial recognition, intangible assets acquired in a business combination are reported at cost less accumulated amortisation and accumulated impairment losses. Amortisation is recognised on a straight-line basis over their estimated useful lives. The estimated useful life and amortisation method are reviewed at the end of each reporting period, with the effect of any changes in estimate being accounted for on a prospective basis. Intangible assets with indefinite useful lives are carried at cost less accumulated impairment losses.",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForGoodwillExplanatory",
"language": "en",
"entity": "scheme:2549006RH08XJGKC2Y14",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
}
},
"f1__s8__6__56": {
"value": "Note 14 Intangible assets (Amounts in NOK 1000)Goodwill and intangible assets acquired in a business combination are recognised initially as set out in note 3, section 3.3, Business Combinations.Amortisation of intangible assets are based on the following estimated useful lives:Goodwill IndefiniteTradename 25 yearsCustomer relations/contracts 7-10 yearsTechnology 3-10 yearsGoodwill is not amortised but is reviewed for impairment at least annually, or more frequently when there is an indication that the cash-generating unit to which goodwill has been allocated, may be impaired. Goodwill is allocated to each of the Group\u2019s cash-generating units (or groups of cash-generating units) expected to benefit from the synergies of the combination. If the recoverable amount of the cash-generating unit is less than the carrying amount of the unit, the impairment loss is allocated first to reduce the carrying amount of any goodwill allocated to the unit and then to the other assets of the unit pro-rata on the basis of the carrying amount of each asset in the unit. An impairment loss recognised for goodwill is not reversed in a subsequent period. On disposal of a cash generating unit, the attributable amount of goodwill is included in the determination of the gain or loss on disposal in the income statement.Intangible assets acquired in a business combination and recognised separately from goodwill, such as tradename and customer relations are recognised initially at their fair value at the acquisition date (which is regarded as their cost).Subsequent to initial recognition, intangible assets acquired in a business combination are reported at cost less accumulated amortisation and accumulated impairment losses. Amortisation is recognised on a straight-line basis over their estimated useful lives. The estimated useful life and amortisation method are reviewed at the end of each reporting period, with the effect of any changes in estimate being accounted for on a prospective basis. Intangible assets with indefinite useful lives are carried at cost less accumulated impairment losses.Separately acquired intangible assetsIntangible assets with finite useful lives such as technology, that are acquired separately are carried at cost less accumulated amortisation and accumulated impairment losses. Subsequent to initial recognition, separately acquired intangible assets are reported at cost less accumulated amortisation and accumulated impairment losses, on the same basis as intangible assets that are acquired in a business combination.Internally generated intangible assets \u2013 TechnologyExpenditure on development activities is recognised as an expense in the period in which it is incurred. An internally generated intangible asset arising from development of the Group\u2019s technical platforms and products is recognised if, and only if, all the following conditions have been demonstrated:\u2022 the technical feasibility of completing the intangible asset so that it will be available for use or sale; \u2022 the intention to complete the intangible asset and use or sell it; \u2022 the ability to use or sell the intangible asset; \u2022 how the intangible asset will generate probable future economic benefits; \u2022 the availability of adequate technical, financial and other resources to complete the development and to use or sell the intangible asset; and\u2022 the ability to measure reliably the expenditure attributable to the intangible asset during its development.The amount initially recognised for internally generated intangible assets is the sum of the expenditure incurred from the date when the intangible asset first meets the recognition criteria listed above. Where no internally generated intangible asset can be recognised, development expenditures are expensed as incurred.Subsequent to initial recognition, internally-generated intangible assets are reported at cost less accumulated amortisation and accumulated impairment losses, on the same basis as intangible assets that are acquired in a business combination.In FY2024, as in the prior year, internally generated intangible asset investment has been focussed on increasing the CPaaS offering. Investment is in line with the LINK strategy to expand from one-way communication services into a global leader in the CPaaS industry. MyLINK Connect and MyLINK MarketingPlatform are two examples of internally generated intangible assets. SSU also contributes to this category and combined, all contribute to the CPaaS offering. Expenditure on development activities is recognised as an expense in the period in which it is incurred. An internally generated intangible asset arising from development of the Group\u2019s technical platforms and products is recognised if, and only if, all the following conditions have been demonstrated: Customer Year ended December 31, 2023 Trade name relations Technology Goodwill Total Opening net book value 281,931 1,737,970 909,601 5,788,277 8,717,780 Effect of discontinued operations - -939,848 -139,521 -1,714,886 -2,794,255 Net additions from acquired - - - - - businesses Additions in period - 10,089 105,899 - 115,988 Exchange differences 603 81,909 37,404 315,479 435,396 Amortization charge -13,209 -146,211 -153,017 - -312,437 Closing net book amount 269,326 743,910 760,365 4,388,870 6,162,471 Closing net book amount - 827,341 173,477 1,713,079 2,713,897 (assets held for sale) At December 31, 2023 Cost 339,344 1,539,095 1,378,263 4,569,230 7,825,933 Accumulated amortisation and -70,019 -795,186 - 617,898 -180,360 -1,663,462 impairment Net book amount 269,326 743,910 760,365 4,388,870 6,162,471 Estimated useful life 25 years 7-10 years 3-10 years Indefinite Amortisation method Linear Linear Linear Customer Year ended December 31, 2024 Trade name relations Technology Goodwill Total Opening net book value 269,326 743,910 760,365 4,388,870 6,162,471 Net additions from acquired 9,977 77,650 21,890 113,232 222,749 businesses Additions in period -38 -451 141,752 - 141,263 Exchange differences 443 27,393 19,911 171,012 218,758 Amortization charge -13,209 -149,192 -147,608 - -310,009 Closing net book amount 266,498 699,309 796,311 4,673,114 6,435,233 At December 31, 2024 Cost 349,090 1,894,983 1,568,928 4,853,474 8,666,475 Accumulated amortisation and -82,591 -1,195,674 -772,617 -180,360 -2,231,243 impairment Net book amount 266,498 699,309 796,311 4,673,114 6,435,233 Estimated useful life 25 years 7-10 years 3-10 years Indefinite Amortisation method Linear Linear Linear Trade nameThe LINK name was established in 2008 and has become a known name within the mobile solutions industry. The estimated useful life is determined to be 25 years and is amortised accordingly. The trade name has not been allocated to specific CGUs.Customer RelationshipsFor customer relationships identified and recognised through business combinations, the amortisation period is estimated to be between 7-10 years. The amortisation period is based on an analysis of customer churn and the remaining useful life of the customer relationships recogonised in the balance sheet.TechnologyAmortisation of capital expenditure for the development of Group technology is between 3-10 years. For technology acquired through business combinations, the amortisation period is between 7-10 years based on an evalution of the technological solution.GoodwillGoodwill generated from business combinations is primarily related to anticipated growth prospects for the acquired businesses. Impairment testGoodwill and other intangible assets with an indefinite useful life (i.e. trade name) are not amortised. They are tested for impairment on an annual basis at a cash generating unit (hereafter \u201cCGU\u201d) level, and more frequently if there are indications that amounts may be impaired. In accordance with IAS 36 - Impairment of Assets, the carrying amount of the CGU to which goodwill has been allocated is compared with the recoverable amount of the CGU. The recoverable amount is determined based on value-in-use calculations. These calculations use cash flow projections reflective of management\u2019s best estimate extended over a five year period. The assumed growth rate has been based on the management growth estimate for the next five years and subsequently reduced to 2% for the purpose of determining the terminal value. As terminal value is applied to revenue and COGS, the gross margin percentage holds stable after the 5-year forecast period; the same is true for EBIDTA margin percentage and EBIT percentage.Certain key assumptions are:Low Range High RangePre-tax discount rates (WACC) 7.00% 14.90%Revenue growth 5.00% 25.00%Gross Margin % 9.00% 45.60%EBITDA Margin % 5.50% 33.00%Total impairment headroom is NOK 6 867 million (NOK 7 759 million). Development of WACC discount rates over the past two years have contributed to reduced impairment headroom overall.The Group, based on an assessment of the facts and circumstances, has concluded that each country constitutes a separate CGU. Goodwill is monitored at the country level for impairment purposes. Goodwill has been allocated to each CGU as presented in the table below. Goodwill2024 2023Norway* 806,490 806,490 Sweden 213,251 209,874 Denmark 353,460 337,056 Finland 247,895 235,391 Germany* 821,001 782,405 Spain 100,039 26,378 Poland 321,532 301,861 Bulgaria 73,212 69,770 France* 466,685 444,746 Switzerland 218,399 211,548 Italy 299,037 284,896 Austria* 534,141 509,030 United Kingdom 27,731 7,513 Hungary 14,954 15,313 Netherlands 153,830 146,598 Portugal 21,457 - Total 4,673,114 4,388,870 Total (held for sale) - 1,713,079 * These CGU\u2019s are deemed significant.Key assumptions specific to significant CGU\u2019s (see below) are:Norway GermanyLow Range High Range Low Range High RangePre-tax discount rates (WACC) 10.10% 10.10% 9.40% 9.40%Revenue growth 15.00% 20.00% 11.00% 12.00%Gross Margin % 31.00% 32.00% 18.00% 19.00%EBITDA Margin % 21.00% 23.50% 11.00% 13.30%France AustriaLow Range High Range Low Range High RangePre-tax discount rates (WACC) 10.50% 10.50% 9.70% 9.70%Revenue growth 10.00% 15.70% 10.00% 10.00%Gross Margin % 25.00% 25.00% 43.00% 44.00%EBITDA Margin % 14.00% 15.00% 29.00% 31.00%The impairment test shows that the recoverable amounts significantly exceed the carrying amount of the CGUs.Sensitivity analysisIn connection with the impairment testing of intangible assets, a sensitivity analysis has been performed. The sensitivity analysis uses terminal growth of 2% after five years. The estimates used to determine future cash flows and WACC when calculating value in use are subject to uncertainty. The assumptions are described as follows:Budgeted period - The basis for the projection of the future cash flows estimated is based on the financial budget of one year. The budget in combination with the forecasts represent management\u2019s best estimate of the rance of economic conditions that will exist over a five-year period. The forecasted years are estimated based on the company\u2019s strategic initiatives.Local currency and Fx rates - All CGU\u2019s forecasted projections are done using NOK.Terminal value - terminal value is calculated using the Gordon growth formula based on previous year cash-flow, user-specified long-term growth and WACC for the specific CGU.WACC - future cash flows are discounted to present value using a discounted rate based on a calculation of a weighted average cost of capital (WACC). The pre-tax WACC is based on an average interest rate adjusted for each CGU.Management have concluded that no forseable change in any of the key assumptions used in the impairment test would cause the carrying amounts of the cash-generating units with significant goodwill to exceed recoverable amounts.",
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"period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
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"f1__s8__6__62": {
"value": "Note 15 Equipment and fixtures (Amounts in NOK 1000)Period ended December 31, 2023Opening net book amount 20,663 Additions 5,857 Net additions from acquired businesses - Disposals 248 Depreciation charge -7,742 Translation differences 1,406 Closing net book amount 12.31 20,432 Closing net book amount 12.31 (held as available for sale) 1,527 Period ended December 31, 2024Opening net book amount 20,432 Net additions from acquired businesses* 1,556 Additions 9,083 Disposals 35 Depreciation charge -9,666 Translation differences 898 Closing net book amount 12.31 (continuing operations) 22,339 Closing net book amount 12.31 (held as available for sale) - Cost 84,941 Accumulated depreciation -62,602 Net book amount 12.31 22,339 Estimated useful life, depreciation plan and residual value is as follows:Economic (useful) life 3-5 yearsDepreciation plan Linear* Net additions for acquired businesses is presented as part of payment for acquisition of subsidiary, net of cash acquired in the consolidated statement of cash flows.",
"dimensions": {
"concept": "ifrs-full:DisclosureOfPropertyPlantAndEquipmentExplanatory",
"language": "en",
"entity": "scheme:2549006RH08XJGKC2Y14",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
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"f1__s8__6__63": {
"value": "Note 16 Trade and other receivables (Amounts in NOK 1000)2024 2023Trade receivables 1,072,151 1,172,768 Unbilled revenue 188,110 165,111 Prepayments 27,447 17,688 Other receivables 322,316 24,846 Total trade and other receivables from continuing operations 1,610,024 1,380,412 Total trade and other receivables held as available for sale - 98,375 The above trade receivables and other receivables represent the Group\u2019s maximum exposure to credit risk at the balance sheet date. Trade accounts receivable relate to the sale of mobile messaging transactions, payment services, licenses, and consulting services; these are within the normal operating cycle.Accrued revenues are representative of an estimate for messaging traffic. An accrual for revenue is made to best reflect volumes in advance of when an invoice from the telecommunications provider is received.The Group measures the loss allowance for trade receivables at an amount equal to lifetime expected credit losses. The Group recognises a loss allowance of 100% against all receivables that are deemed to be at risk (i.e. potential bankruptcy, artificially inflated traffic); these are evaluated individually each month. If it is probable that the receivable will be collected based on past experience with customer and financial position of the debtor, no provision is made. Additional allowances for specific balances are recognised based on past experience and an analysis of the financial position of the debtor along with other relevant factors.There is no loss allowance related to accrued revenues.The Group has recognised a provision for bad debts of KNOK 55 546 (FY2023 - KNOK 48 530). Trade receivables recognised as a part of business combinations are recognised at fair value on the date of acquisition, allowance for impairment amounted to KNOK 0 (FY2023 - KNOK 0).Ageing of past due but not impaired trade receivables(in thousands of NOK) 2024 % 2023 %Not past due 635,302 59 % 543,917 46 %1-30 days overdue 237,463 22 % 201,688 17 %31-60 days overdue 76,896 7 % 104,495 9 %61-90 days overdue 28,851 3 % 69,897 6 %91-180 days overdue 57,151 5 % 122,398 10 %More than 180 days overdue 36,488 3 % 130,374 11 %Total 1,072,151 100 % 1,172,768 100 %",
"dimensions": {
"concept": "ifrs-full:DisclosureOfTradeAndOtherReceivablesExplanatory",
"language": "en",
"entity": "scheme:2549006RH08XJGKC2Y14",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
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},
"f1__s8__6__64": {
"value": "Note 17 Cash and cash equivalents (Amounts in NOK 1000)2024 2023Cash held in banks 2,478,701 1,096,596 Total cash and cash equivalents from continuing operations 2,478,701 1,096,596 Total cash and cash equivalents held as available for sale - 11,636 Restricted cash 2024 2023Taxes withheld 34,167 36,912 Other restricted cash 22,415 10,494 Total restricted cash from continuing operations 56,583 47,406 Cash and cash equivalents include restricted cash related to regulatory requirements. The cash pool is a zero-balancing cash-pool, including the automatic transfers of funds between a master account and subsidiary accounts to cover deposit and withdrawal activity wihin the arrangement. LINK Mobility Group AS is the cash pool administrator/master and holder of the top accounts in different currencies (defined as Facility Accounts). In addition to Facility Accounts, various transactional accounts exist in the same currency as the Facility Account; these are defined as Detail Accounts. Funds deposited into a Detail Account are automatically and instantly transferred to a Facility Account. Similarly, funds withdrawn from a Detail Account are automatically and instantly transferred from a Facility Account. The Detail Accounts maintain a balance of zero, whereas each Facility Account holds the credit or debit balance of the funds available for drawing in the cash pool. A Facility Account (and its balance) is owned solely by LINK and creates rights and obligations only between LINK and the bank. The balance on the Facility Accounts is subject to interest calculations between LINK and the bank. Transactions (deposits or withdrawals) cannot be performed on a Facility Account, but must be performed using a Detail Account. The Bank registers each transaction between each Facility Account and each Detail Account in the cash pool and the total balance thereof. This balance reflects the intra-Group balance between LINK and each Detail Account Holder. The participating entities of the Group have internal balances toward LINK through the use of the Detail Accounts.",
"dimensions": {
"concept": "ifrs-full:DisclosureOfCashAndCashEquivalentsExplanatory",
"language": "en",
"entity": "scheme:2549006RH08XJGKC2Y14",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
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"f1__s8__6__65": {
"value": "Note 18 Share capital and shareholder information Share capital as at December 31, 2024 is NOK 1 494 (2023: NOK 1 485), being 298 706 434 ordinary shares (2023: 297 059 271 ordinary shares) at a nominal value of NOK 0.005/share (2022: NOK 0.005/share). There are no preference shares in FY2024 (FY2023: nil). All shares were fully paid; each ordinary share carries one vote at any general meeting.The movement in the number of shares during the year was as follows:2024 2023Ordinary shares opening balance 2024/2023 297,059,271 295,890,306 Issue of ordinary shares (June 05, 2023) 174,692 Issue of ordinary shares (November 08, 2023) 909,110 Issue of ordinary shares (December 22, 2023) 85,163 Issue of ordinary shares (April 04, 2024) 1,647,163 Ordinary shares at the end of the period 298,706,434 297,059,271 Total number of shares at the end of the period 298,706,434 297,059,271 LINK Mobility Group Holding ASA has the following major shareholders as at December 31, 2024:Name of shareholder Type of account Ownership interestCitibank, N.A. Nominee 28.64%LINK MOBILITY GROUP HOLDING ASA Ordinary 5.42%KARBON INVEST AS Ordinary 5.34%The Bank of New York Mellon SA/NV Nominee 4.56%SUNDT AS Ordinary 4.02%FOLKETRYGDFONDET Ordinary 3.39%J.P. Morgan SE Nominee 2.69%VERDIPAPIRFONDET DNB NORGE Ordinary 2.61%SKANDINAVISKA ENSKILDA BANKEN AB Ordinary 2.27%VERDIPAPIRFONDET DNB SMB Ordinary 1.65%VPF DNB NORGE SELEKTIV Ordinary 1.51%VERDIPAPIRFONDET ALFRED BERG GAMBA Ordinary 1.27%J.P. Morgan SE Nominee 1.18%Merrill Lynch, Pierce, Fenner & Sm Nominee 1.12%BARCLAYS CAPITAL SEC. LTD FIRM Ordinary 1.11%The Bank of New York Mellon SA/NV Nominee 0.98%Em Kapital As Ordinary 0.86%The Bank of New York Mellon SA/NV Nominee 0.75%The Bank of New York Mellon SA/NV Nominee 0.71%J.P. Morgan SE Nominee 0.69%70.75%The company\u2019s trustees (Board Members, management) hold ownership interests and rights to shares:Name of shareholder Total number of sharesVictory Partners VIII Limited via a nominee account in 85,540,774 Citibank (controlled by Abry who have 2 Board members)LINK Mobility Group Holding ASA 16,202,629 Karbon Invest AS (controlled by Jens Rugseth) 15,945,105 HDR Srl (controlled by Riccardo Dragoni) 664,215 Rugz AS (controlled by Jens Rugseth) 500,000 Thomas Berge 457,900 Ina Rasmussen 74,817 Lin Austb\u00f8 41,939 Morten L\u00f8ken Edvardsen 37,913 P\u00e5l Marius Brun 11,155 Sara Murby Forste 15,957 Riccardo Dragoni 8,612 Grethe Helene Viksaas (Board member) 6,382 Benoit Bole 1,217",
"dimensions": {
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"language": "en",
"entity": "scheme:2549006RH08XJGKC2Y14",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
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"f1__s8__6__67": {
"value": "Note 19 Classes and categories of financial instruments (Amounts in NOK 1000)Carrying value2024 2023Current financial assetsTrade receivables 1,072,151 1,172,768 Cash and cash equivalents 2,478,701 1,096,596 Non-current financial liabilitiesBorrowings 1,457,520 4,008,320 Lease liabilities 19,608 31,421 Current liabilitiesBorrowings 2,019,655 2,741 Lease liabilities 11,948 14,549 Trade payables 781,081 845,406 The financial assets held by the Group are held within a business model whose objective is to hold financial assets in order to collect contractual cash flows and are thus measured subsequently at amortised cost less loss allowances.All financial liabilities are measured at amortized cost.The carrying amounts of financial assets and liabilities approximate their fair value as at December 31, 2024. Arrangements with financial institutions are entered into on market terms, and the carrying value at the reporting date has been assessed as approximating fair value.The recognised amounts consitute a reasonable approximation of fair value.",
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"language": "en",
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"period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
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},
"f1__s8__6__66": {
"value": "Note 19 Classes and categories of financial instruments (Amounts in NOK 1000)Carrying value2024 2023Current financial assetsTrade receivables 1,072,151 1,172,768 Cash and cash equivalents 2,478,701 1,096,596 Non-current financial liabilitiesBorrowings 1,457,520 4,008,320 Lease liabilities 19,608 31,421 Current liabilitiesBorrowings 2,019,655 2,741 Lease liabilities 11,948 14,549 Trade payables 781,081 845,406 The financial assets held by the Group are held within a business model whose objective is to hold financial assets in order to collect contractual cash flows and are thus measured subsequently at amortised cost less loss allowances.All financial liabilities are measured at amortized cost.The carrying amounts of financial assets and liabilities approximate their fair value as at December 31, 2024. Arrangements with financial institutions are entered into on market terms, and the carrying value at the reporting date has been assessed as approximating fair value.The recognised amounts consitute a reasonable approximation of fair value.",
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"language": "en",
"entity": "scheme:2549006RH08XJGKC2Y14",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
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},
"f1__s8__6__68": {
"value": "Note 20 Interest-bearing liabilities (Amounts in NOK 1000)Interest bearing liabilities are measured at amortised cost. Non-current financial liabilities 2024 2023Bond loan 1,457,521 4,008,320 Long-term lease liability 19,608 31,421 Total non-current financial liabilities - continuing operations 1,477,129 4,039,741 Total non-current financial liabilities - held as available for sale - 3,205 Current liabilities 2024 2023Bond loan* 2,001,760 - Short-term lease liability 11,948 14,549 Debt to financial institutions/bond loan* 17,895 2,741 Total current liabilities - continuing operations 2,031,604 17,290 Total current liabilities - held as available for sale - 2,752 *Bond principal and instalments falling due within a 12 month period, including non-capitalised interest, are classified as current.The book value of borrowings is estimated to approximate their fair value.Debt out-Amortized Amortized Due date Facility / Currencystandingcost EURcost NOK Maturity Term Interest p. a.InterestBond loan (tap issue 1,000 1,000 11,795 Dec 15, 2025 5 year 3.375 % p.a. Half yearly12.15.2020)Bond loan (tap issue 170,000 168,713 1,989,965 Dec 15, 2025 5 year 3.375 % p.a. Half yearly06.23.2021)Bond loan (tap issue 125,000 123,571 1,457,521 Oct 23, 2029 5 year EURIBOR + Quarterly10.23.2024)2.350%Total 3,459,281 2024 2023Bond loan (tap issue 12.15.2020) 11,795 2,247,583 Bond loan (tap issue 06.23.2021) 2,003,060 1,908,130 Bond loan repurchase (12.06.2023) - -112,405 Bond loan (tap issue 10.23.2024) 1,474,457 - Transaction costs (tap issue 12.15.2020)\u00b9 -21,228 -21,228 Transaction costs (tap issue 06.23.2021)\u00b9 -56,127 -56,127 Transaction costs (tap issue 10.23.2024)\u00b9 -17,707 - Amortisation (tap issue 12.15.2020) 21,228 12,462 Amortisation (tap issue 06.23.2021) 43,032 29,906 Amortisation (tap issue 10.23.2024) 770 - Long-term borrowings 3,459,281 4,008,320 Accrued interest and fees\u00b2 17,895 2,741 Carrying amount 3,477,176 4,011,061 \u00b9 The bond loan is initially measured at fair value net of transaction costs and it is subsequently measured at amortized cost using the effective interest rate method. Consequently, the transaction cost will be amortized over the life of the bond loan. The carrying value of the bond loan will be equal to the principal amount of EUR 171 million at maturity in FY2025 and EUR 125 million in FY2029.\u00b2 Accrued bond loan interest is classified as short-term borrowings in the statement of financial position. It is included above to provide a total picture for the carrying amount of the bond loan.LINK01 is also due in December 2025; classification for the outstanding bond is short-term.Maturity analysis of borrowings (including interest)Contractual maturities of financial < 33 months2 - 34 - 5liabilities at December 31, 2024months- 1 yearyearsyears TotalBond loan (tap issue 12.15.2020) - 12,193 - - 12,193 Bond loan (tap issue 06.23.2021) - 2,072,824 - - 2,072,824 Bond loan (tap issue 10.23.2024) - 80,914 161,827 1,636,202 1,878,944 Lease liabilities - 11,948 6,536 13,072 31,557 Total - 2,177,879 168,364 1,649,275 3,995,517 Contractual maturities of financial < 33 months 2 - 34 - 5 liabilities at December 31, 2023months- 1 yearyearsears TotalBond loan (tap issue 12.15.2020) - 75,873 2,323,973 - 2,399,847 Bond loan (tap issue 06.23.2021) - 64,492 1,975,377 - 2,039,870 Lease liabilities - 14,549 10,474 20,948 45,970 Total - 154,914 4,309,825 20,948 4,485,687 CovenantsUnder the LINK01 and LINK02 bond terms, the Group is required to comply with the following financial covenants at the respective quarterly and annual test dates:Financial Reporting:\u2022 Publish interim accounts (quarterly reports) in the English language on the Group website (or other relevant platform) no later than 60 days (LINK01) and 2 months (LINK02) after the end of the relevant interim period.\u2022 Publish annual financial statements in the English language on the Group website (or other relevant platform) no later than 120 days (LINK01) and 4 months (LINK02) after the end of the fiscal year.A compliance certificate is to be provided with a copy of the financial reports; the compliance certificate is to be signed by the Chief Executive Officer or the Chief Financial Officer to certify that the financial reports are fairly representative of its financial condition as at the date of those financial statements (LINK01 and LINK02).Accounting standards are to be consistently applied (LINK01 and LINK02).Financial Indebtedness:Except as permitted, the Issuer shall not, and shall procure that no other Group Company will, incur any additional Financial Indebtedness or maintain or prolong any existing Financial Indebtedness (LINK01 and LINK02).Negative Pledge:Excluding Permitted Security, the Issuer shall not, and shall procure that no other Group Company will, create or allow to subsist, retain, provide, prolong or renew any Security over any of its/their assets (whether present or future) (LINK01 and LINK02).Disposals of Business:The Issuer shall not, and shall ensure that no other Group Company will, sell, transfer or otherwise dispose of all or substantial part of its assets or operations unless the transaction is carried out at fair market value, on terms and conditions customary for such transaction and such transaction would not have a Material Adverse Effect (LINK01 and LINK02).Distribution:Except as permitted, the Issuer shall not, and shall procure that no other Group Company will make any Distribution (LINK01). Except as permitted, the Issuer shall not, and shall ensure that no other Group Company will, make any Distribution, other than any Permitted Distribution (LINK02).Incurrence Test:The incurrence test is met if the Leverage Ratio is less than, for any additional Financial Indebtedness (3.50x) (LINK01 and LINK02) or for Distributions (1.50x) (LINK01).The Interest Coverage Ratio exceeds 3.0x (LINK01).Compliance with the Incurrence Test is subject to in each case, that no Event of Default is outstanding or would result from the relevant event for which compliance with the Incurrence Test is required (LINK01 and LINK02).Collateral and guaranteesOn December 15, 2020, LINK Mobility Group Holding ASA (LINK) successfully completed the issuance of EUR 200 million senior unsecured bonds, with a EUR 350 million borrowing limit. Part of the proceeds from the bond issue were used to repay the remaining outstanding senior facility agreement (SFA).On June 23, 2021, LINK issued EUR 170 million new bonds in LINK\u2019s outstanding 5-year senior unsecured 3.375% fixed rate bond issue, raising the total outstanding amount to EUR 370 million. The bonds were issued at par.The bonds have a 5-year tenor and a fixed coupon of 3.375% p.a.; any outstanding bonds are to be repaid in full at the maturity date.On October 29, 2024, LINK successfully placed a EUR 125 million senior unsecured bond due October 29, 2029 (\u201cLINK02\u201d). The bond will have a coupon of 3-month EURIBOR + 2.35% per annum. Listing will be on the Oslo Stock Exchange and the Frankfurt Open Market.With the new bond issue, the company has bought back EUR 125 million of LINK01 (ISIN: NO0010911506) (\u201cLINK01\u201d) due December 2025 which was cancelled. As part of this transaction, a call premium of EUR 1.3 million was paid (presented as other financial items in the consolidated statement of cash flows). The EUR 74 million of LINK01 bonds held by LINK were also cancelled. Cancellations were executed on October 23, 2024.The nominal outstanding amount in LINK01 is EUR 171 million; this is classified as a current liability.(Amounts in NOK 1 000) 2024 2023Bond principal 3,489,312 4,155,712 Transaction costs\u00b9 -95,062 -77, 355 Debts secured by collateral 3,394,250 4,078,357 \u00b9 The bond loan is initially measured at fair value net of transaction costs and it is subsequently measured at amortized cost using the effective interest rate method. Consequently, the transaction cost will be amortized over the life of the bond loan. The carrying value of the bond loan will be equal to the principal amount of EUR 171 million at maturity in FY2025 and EUR 125 million in FY2029.Movements in borrowingsSee table below for changes in liabilities arising from financing activities, both cash flows and no cash flow changes.Bond loan Holdback Other Total12/31/2022 3,842,567 - - 3,842,567 New debt - - - - Bond re-purchase* -117,960 -117,960 Cancellation of debts - - - - Effects of foreign exchange 272,344 - - 272,344 Transaction costs - - - - Amortization 16,840 - - 16,840 Interest and fees paid -146,916 - - -146,916 Interest and fee expenses 144,186 - - 144,186 12/31/2023 4,011,061 - - 4,011,061 Bond loan Holdback Other Total12/31/2023 4,011,061 - - 4,011,061 Reclassification of bond re-purchase (prior 117,960 - - 117,960 year)*Opening balance 31.12.2023 4,129,021 - - 4,129,021 New debt** 1,481,563 - - 1,481,563 Cancellation of debts*** -2,358,648 - - -2,358,648 Effects of foreign exchange 205,130 - - 205,130 Transaction costs** -17,707 - - -17,707 Amortization 22,663 - - 22,663 Interest and fees paid -123,039 - - -123,039 Interest and fee expenses 138,194 - - 138,194 12/31/2024 3,477,176 - - 3,477,176 * On December 06, 2023, LINK repurchased EUR 10 million of LINK01; this was converted to NOK at an exchange rate of 11,7960 (Norges Bank). After this date, the amount is currency adjusted at the end of each month. Presentation of this amount is as bond re-purchase in 2023 and this classification is incorrect. The bond repurchase amount, and the effect of the currency adjustment is removed from the presentation of movements in borrowings in 2024. Prior year figures are not restated as there is no impact to the consolidated income statement or to retained earnings; this is strictly classification.** The sum of new debt and transaction costs is equal to proceeds from borrowings as presented in the consolidated statement of cash flows.*** Cancellation of debts, less the effect of foreign exchange specific to the cancellation of debts (NOK 146 million),is equal to repayments of borrowings as presented in the consolidated statement of cash flows.",
"dimensions": {
"concept": "ifrs-full:DisclosureOfBorrowingsExplanatory",
"language": "en",
"entity": "scheme:2549006RH08XJGKC2Y14",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
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"f1__s8__6__69": {
"value": "Note 21 Financial instruments, risk management objectives, and policies Through its operations the Group is exposed to the the following financial risks;\u2022 Interest rate risk\u2022 Foreign exchange risk\u2022 Credit risk\u2022 Liquidity riskInterest rate riskInterest rate risk arises as a consequence of long-term debt.The sensitivity analysis below is based on the exposure to changes in interest rates for non-derivative instruments at the reporting date. For floating rate liabilities, the analysis is prepared assuming the amount outstanding at reporting date was outstanding for the whole year. A one percent increase or decrease represents management\u2019s assessment of reasonable and possible changes in interest rates.If interest rates had been one percent higher/lower and all other variables were held constant, the Group\u2019s profit (and corresponding equity) for the period ended December 31, 2024 would decrease/increase by KNOK 34 900 (FY2023 KNOK 41 590). This is mainly attributable to the Group\u2019s exposure to interest rates on its variable rate borrowings.Foreign exchange riskThe Group undertakes business in foreign currencies and is consequently exposed to fluctuations in exchange rates. Foreign exchange risk arises from transactions related to operations conducted, and assets and liabilities arising in foreign currencies. The Group undertakes transactions denominated in NOK, DKK, EUR, SEK, PLN, BGN, CHF, GBP, HUF, RON, MKD and USD. Revenue and cost transactions within foreign subsidiaries are normally carried out in the same currency, which mitigates the currency risk. However, as the Group\u2019s overall financial reporting is presented in NOK, changes in the value of DKK, EUR, SEK, PLN, BGN, CHF, GBP, HUF, RON, MKD or USD in relation to NOK affect the Group\u2019s overall revenue, profit or loss and financial position. Based on exposure throughout the year and balances at the period-end, the Group assesses that fluctuations in NOK/EUR and NOK/DKK have the most significant impact on the financial reporting of financial assets and liabilities. The table below summarises the impact a change in these currencies will have on the consolidated income statement and on retained earnings/accumulated losses as at December 31, 2024. The analysis is based on the assumption that the foreign exchange rates increase or decrease by 10%, all other variables held constant. (amounts in NOK 1000) NOK/EUR impact NOK/DKK impactTrade receivables 107,54 3 30,569 Borrowings and trade payables -233,918 -Credit Risk Credit risk is the risk of a counterparty defaulting. The Group\u2019s credit risk is limited to trade and other receivables and is mitigated by the Group\u2019s guidelines to ensure that credit sales are only made to customers with high credit rating. Customers with a low credit rating are required to prepay for services rendered by the Group.The Group\u2019s credit risk related to trade receivables is assessed to be limited due to the high number of diverse customers in the Group\u2019s customer base. Refer to note 16 for additional information related to trade and other receivables.The carrying value of trade and other receivables represent the Group\u2019s maximum exposure to credit risk at the balance sheet date.Liquidity risk Liquidity risk is the risk that the Group is unable to meet its financial obligations when they mature, resulting in default.The Group considers its liquidity risk to be limited, and has sufficient liquidity available on bank accounts as of year-end. Refer to notes 19 and 21 for information about maturity of trade and other payables and borrowings.The Group has no credit facilities. Subsidiaries receive all funding from the Group and are not permitted to raise external financing independently.The Group has financial debt covenants related to the senior unsecured bonds. Refer to note 20 for information about the bond convenants.Capital managementThe Group focuses on maintaining sufficient cash resources to ensure the ability to finance further activities.Hedge accountingAs a result of bond issues, it is decided to revert to a hedge of the net investment in a subsidiary that use Euro as their functional currency. The Group applies hedge accounting for hedges that meet the criteria for hedge accounting. The Group has a hedge of net investments in foreign operations.At the inception of each hedge relationship, the Group designated and documented the hedge accounting relationship, risk management objective, and strategy for undertaking the hedge. The documentation includes identification of the hedging instrument, the hedged item or transaction, the nature of the risk being hedged, and how the entity will assess the hedging instrument\u2019s effectiveness in offsetting the exposure to change in the hedged item\u2019s fair value of cash flows attributable to the hedged risk. Such hedges are expected to be highly effective in achieving offsetting changes in fair value or cash flows and are assessed on an ongoing basis to determine that they have been highly effective throughout the financial reporting periods for which they were designated.Hedge relationships that meet the requirements for hedge accounting are accounted for in the Group\u2019s consolidated financial statements as follows:Hedge of a net investmentA hedge of a net investment in a foreign operation is accounted for in a similar way to a cash flow hedge. Foreign exchange gains or losses on the hedging instrument relating to the effective portion of the hedge are recognized directly in comprehensive income while any foreign exchange gains or losses relating to the ineffective portion are recognized in the income statement. On disposal of the foreign entity, the cumulative foreign exchange gains or losses recognized in other comprehensive income is reclassified to the income statement.Exchange rate riskNet investment hedge accounting is applied when possible.ObjectiveTo reduce exposure to foreign currency risk, the objective is to hedge the outstanding bond principal (EUR) against the relevant subsidiaries comprising the underlying EUR cash flow of the company. It is to be recognized as the actual value representing future liabilities based on the exchange rates at the balance sheet date. In accordance with IFRS 9, the transaction costs related to the LINK01 bond issue which was settled on December 15, 2020 are accretion expensed (added back) over the lifetime of the bond, thus reaching nominal value at maturity in Q4 2025. The transaction costs related to the LINK02 bond issue which was settled on October 23, 2024 are accretion expensed (added back) over the lifetime of the bond, thus reaching nominal value at maturity in Q4 2029.In this case, the hedging instrument is a natural hedge between liabilities and assets denominated in EUR. Specifically, debt held in EUR and investments in subsidiaries denominated in EUR form the hedging relationship.The hedging instrument is 53.0% of a five-year fixed rate debt with the following characteristics:Type: Senior unsecured EURPrincipal amount: EUR 296 millionStart date: October 23, 2024Maturity date: October 23, 2029Interest rate: 3.375% and 3-month EURIBOR + 2.35% per annumInterest date(s): Interest payment on June 15 and December 15 each year until maturity; interest payment on January 23, 2025 and every three months until maturity.Settlement date(s): December 15, 2025 and October 23, 2029The foreign currency exposure of the hedging instrument (identified above) is designated as a hedge of the change in the value of the net investments of the subsidiaries (identified above) that is attributable to movements in the NOK/EUR spot rate.Prospective effectiveness testing will be performed at the inception of the hedge and at each reporting date.In 2024, a total of NOK 136 million (2023: NOK 83 million) is the accumulated foreign exchange effect recognized in OCI. At maturity, the final foreign exchange impact will be recycled (reclassified) to the profit and loss.",
"dimensions": {
"concept": "ifrs-full:DisclosureOfFinancialRiskManagementExplanatory",
"language": "en",
"entity": "scheme:2549006RH08XJGKC2Y14",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
}
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"f1__s8__6__70": {
"value": "Interest rate risk arises as a consequence of long-term debt.The sensitivity analysis below is based on the exposure to changes in interest rates for non-derivative instruments at the reporting date. For floating rate liabilities, the analysis is prepared assuming the amount outstanding at reporting date was outstanding for the whole year. A one percent increase or decrease represents management\u2019s assessment of reasonable and possible changes in interest rates.If interest rates had been one percent higher/lower and all other variables were held constant, the Group\u2019s profit (and corresponding equity) for the period ended December 31, 2024 would decrease/increase by KNOK 34 900 (FY2023 KNOK 41 590). This is mainly attributable to the Group\u2019s exposure to interest rates on its variable rate borrowings.",
"dimensions": {
"concept": "ifrs-full:DisclosureOfMarketRiskExplanatory",
"language": "en",
"entity": "scheme:2549006RH08XJGKC2Y14",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
}
},
"f1__s8__6__71": {
"value": "Foreign exchange riskThe Group undertakes business in foreign currencies and is consequently exposed to fluctuations in exchange rates. Foreign exchange risk arises from transactions related to operations conducted, and assets and liabilities arising in foreign currencies. The Group undertakes transactions denominated in NOK, DKK, EUR, SEK, PLN, BGN, CHF, GBP, HUF, RON, MKD and USD. Revenue and cost transactions within foreign subsidiaries are normally carried out in the same currency, which mitigates the currency risk. However, as the Group\u2019s overall financial reporting is presented in NOK, changes in the value of DKK, EUR, SEK, PLN, BGN, CHF, GBP, HUF, RON, MKD or USD in relation to NOK affect the Group\u2019s overall revenue, profit or loss and financial position. Based on exposure throughout the year and balances at the period-end, the Group assesses that fluctuations in NOK/EUR and NOK/DKK have the most significant impact on the financial reporting of financial assets and liabilities. The table below summarises the impact a change in these currencies will have on the consolidated income statement and on retained earnings/accumulated losses as at December 31, 2024. The analysis is based on the assumption that the foreign exchange rates increase or decrease by 10%, all other variables held constant. (amounts in NOK 1000) NOK/EUR impact NOK/DKK impactTrade receivables 107,54 3 30,569 Borrowings and trade payables -233,918 -",
"dimensions": {
"concept": "ifrs-full:DisclosureOfEffectOfChangesInForeignExchangeRatesExplanatory",
"language": "en",
"entity": "scheme:2549006RH08XJGKC2Y14",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
}
},
"f1__s8__6__72": {
"value": "Credit Risk Credit risk is the risk of a counterparty defaulting. The Group\u2019s credit risk is limited to trade and other receivables and is mitigated by the Group\u2019s guidelines to ensure that credit sales are only made to customers with high credit rating. Customers with a low credit rating are required to prepay for services rendered by the Group.The Group\u2019s credit risk related to trade receivables is assessed to be limited due to the high number of diverse customers in the Group\u2019s customer base. Refer to note 16 for additional information related to trade and other receivables.The carrying value of trade and other receivables represent the Group\u2019s maximum exposure to credit risk at the balance sheet date.",
"dimensions": {
"concept": "ifrs-full:DisclosureOfCreditRiskExplanatory",
"language": "en",
"entity": "scheme:2549006RH08XJGKC2Y14",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
}
},
"f1__s8__6__73": {
"value": "Liquidity risk Liquidity risk is the risk that the Group is unable to meet its financial obligations when they mature, resulting in default.The Group considers its liquidity risk to be limited, and has sufficient liquidity available on bank accounts as of year-end. Refer to notes 19 and 21 for information about maturity of trade and other payables and borrowings.The Group has no credit facilities. Subsidiaries receive all funding from the Group and are not permitted to raise external financing independently.The Group has financial debt covenants related to the senior unsecured bonds. Refer to note 20 for information about the bond convenants.",
"dimensions": {
"concept": "ifrs-full:DisclosureOfLiquidityRiskExplanatory",
"language": "en",
"entity": "scheme:2549006RH08XJGKC2Y14",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
}
},
"f1__s8__6__74": {
"value": "Capital managementThe Group focuses on maintaining sufficient cash resources to ensure the ability to finance further activities.Hedge accountingAs a result of bond issues, it is decided to revert to a hedge of the net investment in a subsidiary that use Euro as their functional currency. The Group applies hedge accounting for hedges that meet the criteria for hedge accounting. The Group has a hedge of net investments in foreign operations.At the inception of each hedge relationship, the Group designated and documented the hedge accounting relationship, risk management objective, and strategy for undertaking the hedge. The documentation includes identification of the hedging instrument, the hedged item or transaction, the nature of the risk being hedged, and how the entity will assess the hedging instrument\u2019s effectiveness in offsetting the exposure to change in the hedged item\u2019s fair value of cash flows attributable to the hedged risk. Such hedges are expected to be highly effective in achieving offsetting changes in fair value or cash flows and are assessed on an ongoing basis to determine that they have been highly effective throughout the financial reporting periods for which they were designated.Hedge relationships that meet the requirements for hedge accounting are accounted for in the Group\u2019s consolidated financial statements as follows:Hedge of a net investmentA hedge of a net investment in a foreign operation is accounted for in a similar way to a cash flow hedge. Foreign exchange gains or losses on the hedging instrument relating to the effective portion of the hedge are recognized directly in comprehensive income while any foreign exchange gains or losses relating to the ineffective portion are recognized in the income statement. On disposal of the foreign entity, the cumulative foreign exchange gains or losses recognized in other comprehensive income is reclassified to the income statement.Exchange rate riskNet investment hedge accounting is applied when possible.ObjectiveTo reduce exposure to foreign currency risk, the objective is to hedge the outstanding bond principal (EUR) against the relevant subsidiaries comprising the underlying EUR cash flow of the company. It is to be recognized as the actual value representing future liabilities based on the exchange rates at the balance sheet date. In accordance with IFRS 9, the transaction costs related to the LINK01 bond issue which was settled on December 15, 2020 are accretion expensed (added back) over the lifetime of the bond, thus reaching nominal value at maturity in Q4 2025. The transaction costs related to the LINK02 bond issue which was settled on October 23, 2024 are accretion expensed (added back) over the lifetime of the bond, thus reaching nominal value at maturity in Q4 2029.In this case, the hedging instrument is a natural hedge between liabilities and assets denominated in EUR. Specifically, debt held in EUR and investments in subsidiaries denominated in EUR form the hedging relationship.The hedging instrument is 53.0% of a five-year fixed rate debt with the following characteristics:Type: Senior unsecured EURPrincipal amount: EUR 296 millionStart date: October 23, 2024Maturity date: October 23, 2029Interest rate: 3.375% and 3-month EURIBOR + 2.35% per annumInterest date(s): Interest payment on June 15 and December 15 each year until maturity; interest payment on January 23, 2025 and every three months until maturity.Settlement date(s): December 15, 2025 and October 23, 2029The foreign currency exposure of the hedging instrument (identified above) is designated as a hedge of the change in the value of the net investments of the subsidiaries (identified above) that is attributable to movements in the NOK/EUR spot rate.Prospective effectiveness testing will be performed at the inception of the hedge and at each reporting date.In 2024, a total of NOK 136 million (2023: NOK 83 million) is the accumulated foreign exchange effect recognized in OCI. At maturity, the final foreign exchange impact will be recycled (reclassified) to the profit and loss.",
"dimensions": {
"concept": "ifrs-full:DisclosureOfObjectivesPoliciesAndProcessesForManagingCapitalExplanatory",
"language": "en",
"entity": "scheme:2549006RH08XJGKC2Y14",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
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"f1__s8__6__75": {
"value": "Note 22 Trade and other payables (Amounts in NOK 1000)Trade and other payables 2024 2023Trade payables 781,081 845,406 Public duties 27,302 6,501 Accrued vacation pay 58,715 57, 252 Prepaid revenue 61,601 53,502 Accrued bonus expense 54,691 51,956 Accrued direct cost of services rendered 216,686 186,547 Accrued other operating expenses 275,023 292,474 Total trade and other payables from continuing operations 1,475,100 1,493,639 Total trade and other payables held as available for sale - 100,857 Trade payables is comprised of amounts outstanding for trade purchases. Accrued expenses are inclusive of accrued cost of goods sold for which a final invoice has not been received.Trade and other payables are due within three months.",
"dimensions": {
"concept": "ifrs-full:DisclosureOfTradeAndOtherPayablesExplanatory",
"language": "en",
"entity": "scheme:2549006RH08XJGKC2Y14",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
}
},
"f1__s8__6__76": {
"value": "Note 23 Income tax(Amounts in NOK 1000)Specification of income tax expenseThe tax benefit/(expense) is calculated based on profit before income tax and consists of current tax and deferred tax. 2024 2023 Deferred tax expense (income) -15,442 -55,174 Current tax expense 65,083 67,790 Income tax expense (income) from continuing operations 49,641 12,616 Income tax expense (income) from discontinued operations - -25,391 Income tax payable (balance sheet) 2024 2023 Income tax payable 93,554 38,014 Current tax liabilities (balance sheet) from continuing operations 93,554 38,014 Current tax liabilities (balance sheet) held as available for sale - 69 Effective Tax RateThe difference between income tax calculated at the applicable income tax rate and the income tax expense attributable to loss before income tax was as follows:2024 2023Profit/(loss) before income tax from continuing operations 221,185 50,972 Statutory income tax rate* 22% 22%Expected income tax expense/(benefit) 48,661 11,214 Tax effect on non-taxable income/expenses -63,974 -14,677 Tax effect non deductible expenses 72,860 41,110 Effect of other tax rates in subsidiaries -4,533 -671 Prior year adjustment -4,932 -17,849 Effect of changes in tax rules and rates 1,188 - Non deductible interest, interest cap rules 2,714 3,641 Change in deferred tax asset not recognized -2,342 -10,152 Income tax expense/income (-) for the year from continuing operations 49,641 12,616 Effective tax rate from continuing operations 22% 25%* The statutory income tax rate based on the currently enacted tax rate in Norway.Specification of the tax effect of temporary differences and losses carried forwardDeferred tax assetsManagement judgment is required in determining provisions for income taxes, deferred tax assets and liabilities and the extent to which deferred tax assets can be recognized. The Group is also subject to income taxes in various jurisdictions. Judgment is required in determining the Group\u2019s provision for income taxes. There may be transactions and calculations for which the ultimate tax determination is uncertain during the ordinary course of business. Where the final tax outcome of these matters is different from the amounts that were initially recorded, such differences will impact the income tax and deferred tax liability and expense in the period in which such determination is made.Tax losses and interest cap for which no deferred tax asset has been recognised2024 2023Unused tax loss carry forward - - Interest cap 340,117 350,935 Potential tax benefit unused tax losses, 22% - - Potential tax benefit interest cap, 22 % 74,826 77,206 Interest cap is related to LINK Mobility Group Holding ASA and to LINK Mobility Group AS. The benefit from the interest cap carried forward is uncertain and the amount can be carried forward for 10 years.Unrecognised temporary differences2024 2023Temporary differences for which deferred tax liabilities have not been - - recognisedUnrecognised tax liabilities relating to the above temporary differences, 22 % - - Tax effect of temporary differences and tax losses carried forward as of December 31Deferred tax assets: 2024 2023Tangible and intangible assets 7,389 8,720 Interest - - Other non-current items 34,561 20,709 Total tax effect of temporary differences 41,950 29,428 Deferred tax asset arising from tax losses carried forward 97,122 113,505 Deferred tax assets 139,072 142,934 Deferred tax liabilities: 2024 2023Intangible assets (mainly due to PPA business combinations) 244,051 256,309 Other 12,429 18,122 Deferred tax liabilities from continuing operations 256,480 274,431 Deferred tax liabilities from discontinued operations - 189,943",
"dimensions": {
"concept": "ifrs-full:DisclosureOfIncomeTaxExplanatory",
"language": "en",
"entity": "scheme:2549006RH08XJGKC2Y14",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
}
},
"f1__s8__6__77": {
"value": "Deferred tax assetsManagement judgment is required in determining provisions for income taxes, deferred tax assets and liabilities and the extent to which deferred tax assets can be recognized. The Group is also subject to income taxes in various jurisdictions. Judgment is required in determining the Group\u2019s provision for income taxes. There may be transactions and calculations for which the ultimate tax determination is uncertain during the ordinary course of business. Where the final tax outcome of these matters is different from the amounts that were initially recorded, such differences will impact the income tax and deferred tax liability and expense in the period in which such determination is made.Tax losses and interest cap for which no deferred tax asset has been recognised2024 2023Unused tax loss carry forward - - Interest cap 340,117 350,935 Potential tax benefit unused tax losses, 22% - - Potential tax benefit interest cap, 22 % 74,826 77,206 Interest cap is related to LINK Mobility Group Holding ASA and to LINK Mobility Group AS. The benefit from the interest cap carried forward is uncertain and the amount can be carried forward for 10 years.Unrecognised temporary differences2024 2023Temporary differences for which deferred tax liabilities have not been - - recognisedUnrecognised tax liabilities relating to the above temporary differences, 22 % - - Tax effect of temporary differences and tax losses carried forward as of December 31Deferred tax assets: 2024 2023Tangible and intangible assets 7,389 8,720 Interest - - Other non-current items 34,561 20,709 Total tax effect of temporary differences 41,950 29,428 Deferred tax asset arising from tax losses carried forward 97,122 113,505 Deferred tax assets 139,072 142,934 Deferred tax liabilities: 2024 2023Intangible assets (mainly due to PPA business combinations) 244,051 256,309 Other 12,429 18,122 Deferred tax liabilities from continuing operations 256,480 274,431 Deferred tax liabilities from discontinued operations - 189,943",
"dimensions": {
"concept": "ifrs-full:DisclosureOfDeferredTaxesExplanatory",
"language": "en",
"entity": "scheme:2549006RH08XJGKC2Y14",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
}
},
"f1__s8__6__78": {
"value": "Note 24 Contingencies and legal claimsAs at December 31, 2024 and as at the date of signing of this annual report, certain Group subsidiaries are involved in ongoing legal proceedings as either defendant or as plaintiff. Due to the uncertain outcome for all of these ongoing proceedings, there are no provisions (contingent or otherwise) accounted for in the financial statements or disclosed elsewhere in the notes to the financial statements. Claims for which Group entities are defendants are deemed to be low risk as the majority are covered by guarantees as a result of acquisitions (M&A).A list of ongoing legal proceedings is provided as follows:Entity Counterparty Claim PositionLINK Mobility Italia Srl Customer \u20ac 210,000 DefendantTeracomm RO SRL Customer \u20ac 780,000 DefendantLINK Mobility Spain S.L.U. Supplier \u20ac 380,000 DefendantLINK Mobility Poland Sp. z.o.o. Customer \u20ac 3,850 PlaintiffLINK Mobility Bulgaria EAD Customer \u20ac 5,545 PlaintiffLINK Mobility GmbH Supplier \u20ac 1,000,000 Plaintiff",
"dimensions": {
"concept": "ifrs-full:DisclosureOfCommitmentsAndContingentLiabilitiesExplanatory",
"language": "en",
"entity": "scheme:2549006RH08XJGKC2Y14",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
}
},
"f1__s8__6__79": {
"value": "Due to the uncertain outcome for all of these ongoing proceedings, there are no provisions (contingent or otherwise) accounted for in the financial statements or disclosed elsewhere in the notes to the financial statements.",
"dimensions": {
"concept": "ifrs-full:DisclosureOfContingentLiabilitiesExplanatory",
"language": "en",
"entity": "scheme:2549006RH08XJGKC2Y14",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
}
},
"f1__s8__6__80": {
"value": "Note 25 Events after the reporting dateOn April 01, 2025, LINK announced the acquisition of The SMS Works Ltd in the UK. This acquisition expands LINK\u2019s presence in the UK and provides additional growth opportunities.The purchase price is settled through cash upon closing.The SMS Work Ltd\u2019s lean and technology-driven operating model has attracted more than 500 customers, delivering 120 million messages annually with a solid recurring revenue base. SMS Works has a strong foothold among software integration clients with high retention rates and consistent gross profit growth.Due to the timing of this acquisition, estimates have not been made, and the purchase price allocation process will be performed during the first half of 2025.On April 14, 2025, LINK announced the acquisition of FireText Communications in the UK. This acquisition further expands LINK\u2019s presence in the UK market, particularly within the public sector and adds a scalable and robust SSU platform.The transaction values FireText at an enterprise value of GBP 9.7 million, reflecting an EV/LTM Dec-24 cash EBITDA multiple of 6.5x. The acquisition includes an earn out of GBP 2.3 million at similar valuation. The purchase price will be settled through a combination of GBP 2 million in LINK shares, a seller credit equal to 10% of the enterprise value, and the remaining amount in cash.Founded in 2007 and headquartered in Falmouth, UK, FireText Communications is a privately held A2P SSU company. It offers a proprietary SSU SMS marketing platform that currently serves approximately 2,700 customers. The company has a solid footprint within the public sector in the UK serving as an established provider for the National Health Service(NHS) and UK Government.Due to the timing of this acquisition, estimates have not been made, and the purchase price allocation process will be performed during the first half of 2025.Alternative performance measures (\u201cAPM\u2019s\u201d)The financial information in this report is prepared under International Financial Reporting Standards (IFRS), as adopted by the EU. To enhance the understanding of LINK\u2019s performance, the Group presents several alternative performance measures (\u201cAPM\u2019s\u201d). An APM is defined by the European Securities and Markets Authority (ESMA) guidelines as a financial measure of historical or future financial performance, financial position, or cash flows, other than a financial measure defined or specified in the applicable financial reporting framework (IFRS).Below, LINK presents certain APMs, including gross profit, gross margin, EBITDA, adjusted EBITDA, and adjusted EBITDA margin. APMs such as EBITDA are commonly reported by companies in the markets in which LINK competes and are widely used by investors when comparing performance on a consistent basis without regard to factors such as depreciation and amortization, which can vary significantly, depending upon accounting methods (particularly when acquisitions have occurred) or based on non-operating factors.LINK uses the following APMs:Gross ProfitGross Profit means revenues less direct costs of services rendered.Gross marginGross margin means gross profit as a percentage of total operating revenues.Adjusted EBITDA Adjusted EBITDA means EBITDA adjusted by expenses related to significant one-time, non-recurring events such as acquisitions and restructuring activities, legal advisors, and share-based compensation. LINK has presented adjusted EBITDA in the consolidated statement of profit and loss because management believes the measure provides useful information regarding operating performance.Adjusted EBITDA marginAdjusted EBITDA margin is presented as adjusted EBITDA as a percentage of total operating revenues in the respective periods.EBITDA EBITDA means earnings before interest, taxes, amortization, depreciation, and impairments. LINK has presented EBITDA in the consolidated statement of profit and loss because management believes that the measure provides useful information regarding the Group\u2019s ability to service debt and to fund capital expenditures and provides a helpful measure for comparing its operating performance with that of other companies.See below for a reconciliation of EBITDA to Adjusted EBITDA, and adjusted EBITDA margin.NOK \u2018000 2024 2023Operating profit (loss), (\u201cEBIT\u201d) 264,468 140,317 Add: Depreciation intangible assets 334,189 337,535 EBITDA 598,657 477,853 Add: Restructuring costs 38,605 29,014 Add: Share-based compensation 41,994 98,177 Add: Expenses related to acquisitions 38,713 8,078 Adjusted EBITDA 717,970 613,121 Operating revenues 6,993,807 6,282,126 Adjusted EBITDA 717,970 613,121 Adjusted EBITDA margin 10.3 % 9.8 %The figures presented above are exclusive of the US subsidiary which was under divestiture at December 31, 2023.Net debt The Group monitors Net debt according to Bond loan terms which includes interest-bearing debt and debt like arrangements. Net debt is derived from the balance sheet and consists of both current and non-current liabilities such as bond loan, other debt from financial institutions and current and non-current lease liabilities less cash and cash equivalents. Sellers credits, holdback and earn-outs are excluded as they are not interest-bearing.Net debt/LTM adjusted EBITDA LINK measures leverage ratio as Net debt/Last Twelve Months Adjusted EBITDA. The measure provides useful information about the financial position. Due to the significant M&A activity LINK uses the Last Twelve Months Proforma Adjusted EBITDA to calculate net debt to present a comparable measure over time.Below is a reconciliation of Net debt and Net debt/LTM adjusted EBITDA ratio:NOK \u2018000 2024 2023Bond loan* 3,459,281 4,112,697 Other long-term -0 -0 IFRS 16 liabilities 31,557 51,927 Seller\u2019s credit (interest bearing) -0 -0 Less cash -2,478,701 -1,108,232 Net debt 1,012,136 3,056,392 LTM adjusted EBITDA (proforma) 150,000 782,186 Net debt/LTM adjusted EBITDA 6.7 3.9 ** The bond loan presented here is converted to NOK using the average of the monthly average currency exchange rates for the last twelve months.",
"dimensions": {
"concept": "ifrs-full:DisclosureOfEventsAfterReportingPeriodExplanatory",
"language": "en",
"entity": "scheme:2549006RH08XJGKC2Y14",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
}
}
}
}