{
"documentInfo": {
"documentType": "https://xbrl.org/2021/xbrl-json",
"features": {
"xbrl:canonicalValues": true
},
"namespaces": {
"anora": "http://anora.com",
"ifrs-full": "https://xbrl.ifrs.org/taxonomy/2022-03-24/ifrs-full",
"iso4217": "http://www.xbrl.org/2003/iso4217",
"scheme": "http://standards.iso.org/iso/17442",
"xbrl": "https://xbrl.org/2021",
"xbrli": "http://www.xbrl.org/2003/instance"
},
"taxonomy": [
"http://anora.com/anora-2023-12-31.xsd"
]
},
"facts": {
"fact-1": {
"value": "726500000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:Revenue",
"entity": "scheme:52990007AXNSS4PNX352",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"fact-2": {
"value": "702700000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:Revenue",
"entity": "scheme:52990007AXNSS4PNX352",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"fact-3": {
"value": "20300000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:OtherIncome",
"entity": "scheme:52990007AXNSS4PNX352",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"fact-4": {
"value": "10900000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:OtherIncome",
"entity": "scheme:52990007AXNSS4PNX352",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"fact-5": {
"value": "441400000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:RawMaterialsAndConsumablesUsed",
"entity": "scheme:52990007AXNSS4PNX352",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"fact-6": {
"value": "414300000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:RawMaterialsAndConsumablesUsed",
"entity": "scheme:52990007AXNSS4PNX352",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"fact-7": {
"value": "103800000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:EmployeeBenefitsExpense",
"entity": "scheme:52990007AXNSS4PNX352",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"fact-8": {
"value": "93800000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:EmployeeBenefitsExpense",
"entity": "scheme:52990007AXNSS4PNX352",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"fact-9": {
"value": "134100000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:OtherExpenseByNature",
"entity": "scheme:52990007AXNSS4PNX352",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"fact-10": {
"value": "137600000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:OtherExpenseByNature",
"entity": "scheme:52990007AXNSS4PNX352",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"fact-11": {
"value": "98800000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:DepreciationAndAmortisationExpense",
"entity": "scheme:52990007AXNSS4PNX352",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"fact-12": {
"value": "33200000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:DepreciationAndAmortisationExpense",
"entity": "scheme:52990007AXNSS4PNX352",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"fact-13": {
"value": "-31300000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:ProfitLossFromOperatingActivities",
"entity": "scheme:52990007AXNSS4PNX352",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"fact-14": {
"value": "34700000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:ProfitLossFromOperatingActivities",
"entity": "scheme:52990007AXNSS4PNX352",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"fact-15": {
"value": "24600000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:FinanceIncome",
"entity": "scheme:52990007AXNSS4PNX352",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"fact-16": {
"value": "5600000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:FinanceIncome",
"entity": "scheme:52990007AXNSS4PNX352",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"fact-17": {
"value": "47400000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:FinanceCosts",
"entity": "scheme:52990007AXNSS4PNX352",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"fact-18": {
"value": "17500000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:FinanceCosts",
"entity": "scheme:52990007AXNSS4PNX352",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"fact-19": {
"value": "200000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:ShareOfProfitLossOfAssociatesAndJointVenturesAccountedForUsingEquityMethod",
"entity": "scheme:52990007AXNSS4PNX352",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"fact-20": {
"value": "600000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:ShareOfProfitLossOfAssociatesAndJointVenturesAccountedForUsingEquityMethod",
"entity": "scheme:52990007AXNSS4PNX352",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"fact-21": {
"value": "-53900000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:ProfitLossBeforeTax",
"entity": "scheme:52990007AXNSS4PNX352",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"fact-22": {
"value": "23400000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:ProfitLossBeforeTax",
"entity": "scheme:52990007AXNSS4PNX352",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"fact-23": {
"value": "-13900000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:IncomeTaxExpenseContinuingOperations",
"entity": "scheme:52990007AXNSS4PNX352",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"fact-24": {
"value": "5300000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:IncomeTaxExpenseContinuingOperations",
"entity": "scheme:52990007AXNSS4PNX352",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"fact-25": {
"value": "-39900000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:ProfitLoss",
"entity": "scheme:52990007AXNSS4PNX352",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"fact-26": {
"value": "18100000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:ProfitLoss",
"entity": "scheme:52990007AXNSS4PNX352",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"fact-27": {
"value": "-39900000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:ProfitLossAttributableToOwnersOfParent",
"entity": "scheme:52990007AXNSS4PNX352",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"fact-28": {
"value": "17900000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:ProfitLossAttributableToOwnersOfParent",
"entity": "scheme:52990007AXNSS4PNX352",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"fact-29": {
"value": "0",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:ProfitLossAttributableToNoncontrollingInterests",
"entity": "scheme:52990007AXNSS4PNX352",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"fact-30": {
"value": "200000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:ProfitLossAttributableToNoncontrollingInterests",
"entity": "scheme:52990007AXNSS4PNX352",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"fact-31": {
"value": "-0.59",
"decimals": 4,
"dimensions": {
"concept": "ifrs-full:BasicEarningsLossPerShare",
"entity": "scheme:52990007AXNSS4PNX352",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"unit": "iso4217:EUR/xbrli:shares"
}
},
"fact-32": {
"value": "0.26",
"decimals": 4,
"dimensions": {
"concept": "ifrs-full:BasicEarningsLossPerShare",
"entity": "scheme:52990007AXNSS4PNX352",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
"unit": "iso4217:EUR/xbrli:shares"
}
},
"fact-33": {
"value": "-0.58",
"decimals": 4,
"dimensions": {
"concept": "ifrs-full:DilutedEarningsLossPerShare",
"entity": "scheme:52990007AXNSS4PNX352",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"unit": "iso4217:EUR/xbrli:shares"
}
},
"fact-34": {
"value": "0.26",
"decimals": 4,
"dimensions": {
"concept": "ifrs-full:DilutedEarningsLossPerShare",
"entity": "scheme:52990007AXNSS4PNX352",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
"unit": "iso4217:EUR/xbrli:shares"
}
},
"fact-35": {
"value": "-39900000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:ProfitLoss",
"entity": "scheme:52990007AXNSS4PNX352",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"fact-36": {
"value": "18100000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:ProfitLoss",
"entity": "scheme:52990007AXNSS4PNX352",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"fact-37": {
"value": "-100000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:OtherComprehensiveIncomeBeforeTaxGainsLossesOnRemeasurementsOfDefinedBenefitPlans",
"entity": "scheme:52990007AXNSS4PNX352",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"fact-38": {
"value": "100000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:OtherComprehensiveIncomeBeforeTaxGainsLossesOnRemeasurementsOfDefinedBenefitPlans",
"entity": "scheme:52990007AXNSS4PNX352",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"fact-39": {
"value": "0",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:IncomeTaxRelatingToRemeasurementsOfDefinedBenefitPlansOfOtherComprehensiveIncome",
"entity": "scheme:52990007AXNSS4PNX352",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"fact-40": {
"value": "0",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:IncomeTaxRelatingToRemeasurementsOfDefinedBenefitPlansOfOtherComprehensiveIncome",
"entity": "scheme:52990007AXNSS4PNX352",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"fact-41": {
"value": "-100000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:OtherComprehensiveIncomeThatWillNotBeReclassifiedToProfitOrLossNetOfTax",
"entity": "scheme:52990007AXNSS4PNX352",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"fact-42": {
"value": "100000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:OtherComprehensiveIncomeThatWillNotBeReclassifiedToProfitOrLossNetOfTax",
"entity": "scheme:52990007AXNSS4PNX352",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"fact-43": {
"value": "-6700000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:OtherComprehensiveIncomeBeforeTaxCashFlowHedges",
"entity": "scheme:52990007AXNSS4PNX352",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"fact-44": {
"value": "3100000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:OtherComprehensiveIncomeBeforeTaxCashFlowHedges",
"entity": "scheme:52990007AXNSS4PNX352",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"fact-45": {
"value": "-12800000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:OtherComprehensiveIncomeBeforeTaxExchangeDifferencesOnTranslation",
"entity": "scheme:52990007AXNSS4PNX352",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"fact-46": {
"value": "-16900000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:OtherComprehensiveIncomeBeforeTaxExchangeDifferencesOnTranslation",
"entity": "scheme:52990007AXNSS4PNX352",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"fact-47": {
"value": "-1000000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:IncomeTaxRelatingToComponentsOfOtherComprehensiveIncomeThatWillBeReclassifiedToProfitOrLoss",
"entity": "scheme:52990007AXNSS4PNX352",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"fact-48": {
"value": "700000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:IncomeTaxRelatingToComponentsOfOtherComprehensiveIncomeThatWillBeReclassifiedToProfitOrLoss",
"entity": "scheme:52990007AXNSS4PNX352",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"fact-49": {
"value": "-18500000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:OtherComprehensiveIncomeThatWillBeReclassifiedToProfitOrLossNetOfTax",
"entity": "scheme:52990007AXNSS4PNX352",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"fact-50": {
"value": "-14500000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:OtherComprehensiveIncomeThatWillBeReclassifiedToProfitOrLossNetOfTax",
"entity": "scheme:52990007AXNSS4PNX352",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"fact-51": {
"value": "-18600000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:OtherComprehensiveIncome",
"entity": "scheme:52990007AXNSS4PNX352",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"fact-52": {
"value": "-14400000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:OtherComprehensiveIncome",
"entity": "scheme:52990007AXNSS4PNX352",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"fact-53": {
"value": "-58500000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:ComprehensiveIncome",
"entity": "scheme:52990007AXNSS4PNX352",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"fact-54": {
"value": "3700000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:ComprehensiveIncome",
"entity": "scheme:52990007AXNSS4PNX352",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"fact-55": {
"value": "-58400000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:ComprehensiveIncomeAttributableToOwnersOfParent",
"entity": "scheme:52990007AXNSS4PNX352",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"fact-56": {
"value": "3500000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:ComprehensiveIncomeAttributableToOwnersOfParent",
"entity": "scheme:52990007AXNSS4PNX352",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"fact-57": {
"value": "-100000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:ComprehensiveIncomeAttributableToNoncontrollingInterests",
"entity": "scheme:52990007AXNSS4PNX352",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"fact-58": {
"value": "200000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:ComprehensiveIncomeAttributableToNoncontrollingInterests",
"entity": "scheme:52990007AXNSS4PNX352",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"fact-59": {
"value": "304300000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:Goodwill",
"entity": "scheme:52990007AXNSS4PNX352",
"period": "2024-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"fact-60": {
"value": "310500000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:Goodwill",
"entity": "scheme:52990007AXNSS4PNX352",
"period": "2023-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"fact-61": {
"value": "206300000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:IntangibleAssetsOtherThanGoodwill",
"entity": "scheme:52990007AXNSS4PNX352",
"period": "2024-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"fact-62": {
"value": "226100000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:IntangibleAssetsOtherThanGoodwill",
"entity": "scheme:52990007AXNSS4PNX352",
"period": "2023-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"fact-63": {
"value": "62700000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:PropertyPlantAndEquipment",
"entity": "scheme:52990007AXNSS4PNX352",
"period": "2024-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"fact-64": {
"value": "76700000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:PropertyPlantAndEquipment",
"entity": "scheme:52990007AXNSS4PNX352",
"period": "2023-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"fact-65": {
"value": "67900000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:RightofuseAssets",
"entity": "scheme:52990007AXNSS4PNX352",
"period": "2024-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"fact-66": {
"value": "136800000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:RightofuseAssets",
"entity": "scheme:52990007AXNSS4PNX352",
"period": "2023-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"fact-67": {
"value": "12300000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:InvestmentAccountedForUsingEquityMethod",
"entity": "scheme:52990007AXNSS4PNX352",
"period": "2024-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"fact-68": {
"value": "20700000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:InvestmentAccountedForUsingEquityMethod",
"entity": "scheme:52990007AXNSS4PNX352",
"period": "2023-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"fact-69": {
"value": "700000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:OtherNoncurrentFinancialAssets",
"entity": "scheme:52990007AXNSS4PNX352",
"period": "2024-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"fact-70": {
"value": "700000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:OtherNoncurrentFinancialAssets",
"entity": "scheme:52990007AXNSS4PNX352",
"period": "2023-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"fact-71": {
"value": "0",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:NoncurrentReceivablesDueFromAssociates",
"entity": "scheme:52990007AXNSS4PNX352",
"period": "2024-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"fact-72": {
"value": "0",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:NoncurrentReceivablesDueFromAssociates",
"entity": "scheme:52990007AXNSS4PNX352",
"period": "2023-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"fact-73": {
"value": "0",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:DeferredTaxAssets",
"entity": "scheme:52990007AXNSS4PNX352",
"period": "2024-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"fact-74": {
"value": "600000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:DeferredTaxAssets",
"entity": "scheme:52990007AXNSS4PNX352",
"period": "2023-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"fact-75": {
"value": "654100000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:NoncurrentAssets",
"entity": "scheme:52990007AXNSS4PNX352",
"period": "2024-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"fact-76": {
"value": "772100000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:NoncurrentAssets",
"entity": "scheme:52990007AXNSS4PNX352",
"period": "2023-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"fact-77": {
"value": "144200000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:Inventories",
"entity": "scheme:52990007AXNSS4PNX352",
"period": "2024-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"fact-78": {
"value": "186200000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:Inventories",
"entity": "scheme:52990007AXNSS4PNX352",
"period": "2023-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"fact-79": {
"value": "110100000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:TradeAndOtherReceivables",
"entity": "scheme:52990007AXNSS4PNX352",
"period": "2024-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"fact-80": {
"value": "241900000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:TradeAndOtherReceivables",
"entity": "scheme:52990007AXNSS4PNX352",
"period": "2023-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"fact-81": {
"value": "800000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:CurrentDerivativeFinancialAssets",
"entity": "scheme:52990007AXNSS4PNX352",
"period": "2024-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"fact-82": {
"value": "5800000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:CurrentDerivativeFinancialAssets",
"entity": "scheme:52990007AXNSS4PNX352",
"period": "2023-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"fact-83": {
"value": "6100000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:CurrentTaxAssetsCurrent",
"entity": "scheme:52990007AXNSS4PNX352",
"period": "2024-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"fact-84": {
"value": "3900000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:CurrentTaxAssetsCurrent",
"entity": "scheme:52990007AXNSS4PNX352",
"period": "2023-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"fact-85": {
"value": "212700000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:CashAndCashEquivalents",
"entity": "scheme:52990007AXNSS4PNX352",
"period": "2024-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"fact-86": {
"value": "91400000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:CashAndCashEquivalents",
"entity": "scheme:52990007AXNSS4PNX352",
"period": "2023-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"fact-87": {
"value": "7600000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:NoncurrentAssetsOrDisposalGroupsClassifiedAsHeldForSale",
"entity": "scheme:52990007AXNSS4PNX352",
"period": "2024-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"fact-88": {
"value": "0",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:NoncurrentAssetsOrDisposalGroupsClassifiedAsHeldForSale",
"entity": "scheme:52990007AXNSS4PNX352",
"period": "2023-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"fact-89": {
"value": "481600000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:CurrentAssets",
"entity": "scheme:52990007AXNSS4PNX352",
"period": "2024-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"fact-90": {
"value": "529200000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:CurrentAssets",
"entity": "scheme:52990007AXNSS4PNX352",
"period": "2023-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"fact-91": {
"value": "1135700000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:Assets",
"entity": "scheme:52990007AXNSS4PNX352",
"period": "2024-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"fact-92": {
"value": "1301300000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:Assets",
"entity": "scheme:52990007AXNSS4PNX352",
"period": "2023-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"fact-93": {
"value": "61500000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:IssuedCapital",
"entity": "scheme:52990007AXNSS4PNX352",
"period": "2024-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"fact-94": {
"value": "61500000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:IssuedCapital",
"entity": "scheme:52990007AXNSS4PNX352",
"period": "2023-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"fact-95": {
"value": "336800000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:CapitalReserve",
"entity": "scheme:52990007AXNSS4PNX352",
"period": "2024-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"fact-96": {
"value": "336800000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:CapitalReserve",
"entity": "scheme:52990007AXNSS4PNX352",
"period": "2023-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"fact-97": {
"value": "0",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:StatutoryReserve",
"entity": "scheme:52990007AXNSS4PNX352",
"period": "2024-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"fact-98": {
"value": "500000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:StatutoryReserve",
"entity": "scheme:52990007AXNSS4PNX352",
"period": "2023-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"fact-99": {
"value": "-1500000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:ReserveOfCashFlowHedges",
"entity": "scheme:52990007AXNSS4PNX352",
"period": "2024-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"fact-100": {
"value": "4200000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:ReserveOfCashFlowHedges",
"entity": "scheme:52990007AXNSS4PNX352",
"period": "2023-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"fact-101": {
"value": "-44000000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:ReserveOfExchangeDifferencesOnTranslation",
"entity": "scheme:52990007AXNSS4PNX352",
"period": "2024-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"fact-102": {
"value": "-33000000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:ReserveOfExchangeDifferencesOnTranslation",
"entity": "scheme:52990007AXNSS4PNX352",
"period": "2023-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"fact-103": {
"value": "54500000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:RetainedEarnings",
"entity": "scheme:52990007AXNSS4PNX352",
"period": "2024-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"fact-104": {
"value": "110700000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:RetainedEarnings",
"entity": "scheme:52990007AXNSS4PNX352",
"period": "2023-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"fact-105": {
"value": "407300000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:EquityAttributableToOwnersOfParent",
"entity": "scheme:52990007AXNSS4PNX352",
"period": "2024-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"fact-106": {
"value": "480500000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:EquityAttributableToOwnersOfParent",
"entity": "scheme:52990007AXNSS4PNX352",
"period": "2023-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"fact-107": {
"value": "500000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:NoncontrollingInterests",
"entity": "scheme:52990007AXNSS4PNX352",
"period": "2024-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"fact-108": {
"value": "900000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:NoncontrollingInterests",
"entity": "scheme:52990007AXNSS4PNX352",
"period": "2023-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"fact-109": {
"value": "407800000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:Equity",
"entity": "scheme:52990007AXNSS4PNX352",
"period": "2024-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"fact-110": {
"value": "481400000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:Equity",
"entity": "scheme:52990007AXNSS4PNX352",
"period": "2023-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"fact-111": {
"value": "36500000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:DeferredTaxLiabilities",
"entity": "scheme:52990007AXNSS4PNX352",
"period": "2024-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"fact-112": {
"value": "57300000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:DeferredTaxLiabilities",
"entity": "scheme:52990007AXNSS4PNX352",
"period": "2023-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"fact-113": {
"value": "214800000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:LongtermBorrowings",
"entity": "scheme:52990007AXNSS4PNX352",
"period": "2024-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"fact-114": {
"value": "216000000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:LongtermBorrowings",
"entity": "scheme:52990007AXNSS4PNX352",
"period": "2023-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"fact-115": {
"value": "100000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:NoncurrentFinancialLiabilitiesAtFairValueThroughProfitOrLossDesignatedUponInitialRecognition",
"entity": "scheme:52990007AXNSS4PNX352",
"period": "2024-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"fact-116": {
"value": "600000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:NoncurrentFinancialLiabilitiesAtFairValueThroughProfitOrLossDesignatedUponInitialRecognition",
"entity": "scheme:52990007AXNSS4PNX352",
"period": "2023-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"fact-117": {
"value": "120700000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:NoncurrentLeaseLiabilities",
"entity": "scheme:52990007AXNSS4PNX352",
"period": "2024-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"fact-118": {
"value": "132400000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:NoncurrentLeaseLiabilities",
"entity": "scheme:52990007AXNSS4PNX352",
"period": "2023-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"fact-119": {
"value": "0",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:NoncurrentFinancialLiabilitiesAtAmortisedCost",
"entity": "scheme:52990007AXNSS4PNX352",
"period": "2024-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"fact-120": {
"value": "0",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:NoncurrentFinancialLiabilitiesAtAmortisedCost",
"entity": "scheme:52990007AXNSS4PNX352",
"period": "2023-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"fact-121": {
"value": "2400000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:NoncurrentRecognisedLiabilitiesDefinedBenefitPlan",
"entity": "scheme:52990007AXNSS4PNX352",
"period": "2024-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"fact-122": {
"value": "2700000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:NoncurrentRecognisedLiabilitiesDefinedBenefitPlan",
"entity": "scheme:52990007AXNSS4PNX352",
"period": "2023-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"fact-123": {
"value": "374500000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:NoncurrentLiabilities",
"entity": "scheme:52990007AXNSS4PNX352",
"period": "2024-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"fact-124": {
"value": "409100000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:NoncurrentLiabilities",
"entity": "scheme:52990007AXNSS4PNX352",
"period": "2023-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"fact-125": {
"value": "1500000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:ShorttermBorrowings",
"entity": "scheme:52990007AXNSS4PNX352",
"period": "2024-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"fact-126": {
"value": "31500000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:ShorttermBorrowings",
"entity": "scheme:52990007AXNSS4PNX352",
"period": "2023-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"fact-127": {
"value": "600000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:CurrentFinancialLiabilitiesAtFairValueThroughProfitOrLossDesignatedUponInitialRecognition",
"entity": "scheme:52990007AXNSS4PNX352",
"period": "2024-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"fact-128": {
"value": "0",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:CurrentFinancialLiabilitiesAtFairValueThroughProfitOrLossDesignatedUponInitialRecognition",
"entity": "scheme:52990007AXNSS4PNX352",
"period": "2023-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"fact-129": {
"value": "13300000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:CurrentLeaseLiabilities",
"entity": "scheme:52990007AXNSS4PNX352",
"period": "2024-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"fact-130": {
"value": "12400000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:CurrentLeaseLiabilities",
"entity": "scheme:52990007AXNSS4PNX352",
"period": "2023-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"fact-131": {
"value": "3900000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:CurrentProvisionsForEmployeeBenefits",
"entity": "scheme:52990007AXNSS4PNX352",
"period": "2024-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"fact-132": {
"value": "0",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:CurrentProvisionsForEmployeeBenefits",
"entity": "scheme:52990007AXNSS4PNX352",
"period": "2023-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"fact-133": {
"value": "329600000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:TradeAndOtherCurrentPayables",
"entity": "scheme:52990007AXNSS4PNX352",
"period": "2024-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"fact-134": {
"value": "364400000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:TradeAndOtherCurrentPayables",
"entity": "scheme:52990007AXNSS4PNX352",
"period": "2023-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"fact-135": {
"value": "2200000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:CurrentDerivativeFinancialLiabilities",
"entity": "scheme:52990007AXNSS4PNX352",
"period": "2024-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"fact-136": {
"value": "200000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:CurrentDerivativeFinancialLiabilities",
"entity": "scheme:52990007AXNSS4PNX352",
"period": "2023-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"fact-137": {
"value": "2200000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:CurrentTaxLiabilities",
"entity": "scheme:52990007AXNSS4PNX352",
"period": "2024-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"fact-138": {
"value": "2300000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:CurrentTaxLiabilities",
"entity": "scheme:52990007AXNSS4PNX352",
"period": "2023-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"fact-139": {
"value": "353400000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:CurrentLiabilities",
"entity": "scheme:52990007AXNSS4PNX352",
"period": "2024-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"fact-140": {
"value": "410900000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:CurrentLiabilities",
"entity": "scheme:52990007AXNSS4PNX352",
"period": "2023-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"fact-141": {
"value": "727900000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:Liabilities",
"entity": "scheme:52990007AXNSS4PNX352",
"period": "2024-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"fact-142": {
"value": "820000000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:Liabilities",
"entity": "scheme:52990007AXNSS4PNX352",
"period": "2023-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"fact-143": {
"value": "1135700000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:EquityAndLiabilities",
"entity": "scheme:52990007AXNSS4PNX352",
"period": "2024-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"fact-144": {
"value": "1301300000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:EquityAndLiabilities",
"entity": "scheme:52990007AXNSS4PNX352",
"period": "2023-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"fact-145": {
"value": "-53900000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:ProfitLossBeforeTax",
"entity": "scheme:52990007AXNSS4PNX352",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"fact-146": {
"value": "23400000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:ProfitLossBeforeTax",
"entity": "scheme:52990007AXNSS4PNX352",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"fact-147": {
"value": "98800000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:AdjustmentsForDepreciationAndAmortisationExpenseAndImpairmentLossReversalOfImpairmentLossRecognisedInProfitOrLoss",
"entity": "scheme:52990007AXNSS4PNX352",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"fact-148": {
"value": "33200000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:AdjustmentsForDepreciationAndAmortisationExpenseAndImpairmentLossReversalOfImpairmentLossRecognisedInProfitOrLoss",
"entity": "scheme:52990007AXNSS4PNX352",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"fact-149": {
"value": "200000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:AdjustmentsForUndistributedProfitsOfInvestmentsAccountedForUsingEquityMethod",
"entity": "scheme:52990007AXNSS4PNX352",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"fact-150": {
"value": "600000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:AdjustmentsForUndistributedProfitsOfInvestmentsAccountedForUsingEquityMethod",
"entity": "scheme:52990007AXNSS4PNX352",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"fact-151": {
"value": "-12200000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:AdjustmentsForLossesGainsOnDisposalOfNoncurrentAssets",
"entity": "scheme:52990007AXNSS4PNX352",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"fact-152": {
"value": "-900000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:AdjustmentsForLossesGainsOnDisposalOfNoncurrentAssets",
"entity": "scheme:52990007AXNSS4PNX352",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"fact-153": {
"value": "-22800000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:AdjustmentsForFinanceIncomeCost",
"entity": "scheme:52990007AXNSS4PNX352",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"fact-154": {
"value": "-11900000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:AdjustmentsForFinanceIncomeCost",
"entity": "scheme:52990007AXNSS4PNX352",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"fact-155": {
"value": "200000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:OtherAdjustmentsForNoncashItems",
"entity": "scheme:52990007AXNSS4PNX352",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"fact-156": {
"value": "-100000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:OtherAdjustmentsForNoncashItems",
"entity": "scheme:52990007AXNSS4PNX352",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"fact-157": {
"value": "109300000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:AdjustmentsForReconcileProfitLoss",
"entity": "scheme:52990007AXNSS4PNX352",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"fact-158": {
"value": "43500000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:AdjustmentsForReconcileProfitLoss",
"entity": "scheme:52990007AXNSS4PNX352",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"fact-159": {
"value": "8300000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:AdjustmentsForDecreaseIncreaseInInventories",
"entity": "scheme:52990007AXNSS4PNX352",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"fact-160": {
"value": "-29200000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:AdjustmentsForDecreaseIncreaseInInventories",
"entity": "scheme:52990007AXNSS4PNX352",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"fact-161": {
"value": "119800000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:AdjustmentsForDecreaseIncreaseInTradeAccountReceivable",
"entity": "scheme:52990007AXNSS4PNX352",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"fact-162": {
"value": "0",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:AdjustmentsForDecreaseIncreaseInTradeAccountReceivable",
"entity": "scheme:52990007AXNSS4PNX352",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"fact-163": {
"value": "-18900000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:AdjustmentsForIncreaseDecreaseInTradeAccountPayable",
"entity": "scheme:52990007AXNSS4PNX352",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"fact-164": {
"value": "-15600000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:AdjustmentsForIncreaseDecreaseInTradeAccountPayable",
"entity": "scheme:52990007AXNSS4PNX352",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"fact-165": {
"value": "-109200000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:IncreaseDecreaseInWorkingCapital",
"entity": "scheme:52990007AXNSS4PNX352",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"fact-166": {
"value": "44800000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:IncreaseDecreaseInWorkingCapital",
"entity": "scheme:52990007AXNSS4PNX352",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"fact-167": {
"value": "28200000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:InterestPaidClassifiedAsOperatingActivities",
"entity": "scheme:52990007AXNSS4PNX352",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"fact-168": {
"value": "11800000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:InterestPaidClassifiedAsOperatingActivities",
"entity": "scheme:52990007AXNSS4PNX352",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"fact-169": {
"value": "12000000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:InterestReceivedClassifiedAsOperatingActivities",
"entity": "scheme:52990007AXNSS4PNX352",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"fact-170": {
"value": "2700000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:InterestReceivedClassifiedAsOperatingActivities",
"entity": "scheme:52990007AXNSS4PNX352",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"fact-171": {
"value": "8000000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:OtherFinanceIncomeCost",
"entity": "scheme:52990007AXNSS4PNX352",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"fact-172": {
"value": "2600000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:OtherFinanceIncomeCost",
"entity": "scheme:52990007AXNSS4PNX352",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"fact-173": {
"value": "5200000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:IncomeTaxesPaidClassifiedAsOperatingActivities",
"entity": "scheme:52990007AXNSS4PNX352",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"fact-174": {
"value": "10700000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:IncomeTaxesPaidClassifiedAsOperatingActivities",
"entity": "scheme:52990007AXNSS4PNX352",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"fact-175": {
"value": "29400000",
"decimals": -5,
"dimensions": {
"concept": "anora:FinancialItemsAndTaxes",
"entity": "scheme:52990007AXNSS4PNX352",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"fact-176": {
"value": "22400000",
"decimals": -5,
"dimensions": {
"concept": "anora:FinancialItemsAndTaxes",
"entity": "scheme:52990007AXNSS4PNX352",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"fact-177": {
"value": "135300000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:CashFlowsFromUsedInOperatingActivities",
"entity": "scheme:52990007AXNSS4PNX352",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"fact-178": {
"value": "-400000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:CashFlowsFromUsedInOperatingActivities",
"entity": "scheme:52990007AXNSS4PNX352",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"fact-179": {
"value": "12600000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:PurchaseOfPropertyPlantAndEquipmentIntangibleAssetsOtherThanGoodwillInvestmentPropertyAndOtherNoncurrentAssets",
"entity": "scheme:52990007AXNSS4PNX352",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"fact-180": {
"value": "10700000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:PurchaseOfPropertyPlantAndEquipmentIntangibleAssetsOtherThanGoodwillInvestmentPropertyAndOtherNoncurrentAssets",
"entity": "scheme:52990007AXNSS4PNX352",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"fact-181": {
"value": "900000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:ProceedsFromDisposalsOfPropertyPlantAndEquipmentIntangibleAssetsOtherThanGoodwillInvestmentPropertyAndOtherNoncurrentAssets",
"entity": "scheme:52990007AXNSS4PNX352",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"fact-182": {
"value": "1200000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:ProceedsFromDisposalsOfPropertyPlantAndEquipmentIntangibleAssetsOtherThanGoodwillInvestmentPropertyAndOtherNoncurrentAssets",
"entity": "scheme:52990007AXNSS4PNX352",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"fact-183": {
"value": "-0",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:OtherCashReceiptsFromSalesOfEquityOrDebtInstrumentsOfOtherEntitiesClassifiedAsInvestingActivities",
"entity": "scheme:52990007AXNSS4PNX352",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"fact-184": {
"value": "-0",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:OtherCashReceiptsFromSalesOfEquityOrDebtInstrumentsOfOtherEntitiesClassifiedAsInvestingActivities",
"entity": "scheme:52990007AXNSS4PNX352",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"fact-185": {
"value": "52300000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:CashFlowsFromLosingControlOfSubsidiariesOrOtherBusinessesClassifiedAsInvestingActivities",
"entity": "scheme:52990007AXNSS4PNX352",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"fact-186": {
"value": "0",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:CashFlowsFromLosingControlOfSubsidiariesOrOtherBusinessesClassifiedAsInvestingActivities",
"entity": "scheme:52990007AXNSS4PNX352",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"fact-187": {
"value": "100000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:CashFlowsUsedInObtainingControlOfSubsidiariesOrOtherBusinessesClassifiedAsInvestingActivities",
"entity": "scheme:52990007AXNSS4PNX352",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"fact-188": {
"value": "85900000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:CashFlowsUsedInObtainingControlOfSubsidiariesOrOtherBusinessesClassifiedAsInvestingActivities",
"entity": "scheme:52990007AXNSS4PNX352",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"fact-189": {
"value": "900000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:InterestReceivedClassifiedAsInvestingActivities",
"entity": "scheme:52990007AXNSS4PNX352",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"fact-190": {
"value": "900000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:InterestReceivedClassifiedAsInvestingActivities",
"entity": "scheme:52990007AXNSS4PNX352",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"fact-191": {
"value": "200000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:DividendsReceivedClassifiedAsInvestingActivities",
"entity": "scheme:52990007AXNSS4PNX352",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"fact-192": {
"value": "100000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:DividendsReceivedClassifiedAsInvestingActivities",
"entity": "scheme:52990007AXNSS4PNX352",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"fact-193": {
"value": "41600000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:CashFlowsFromUsedInInvestingActivities",
"entity": "scheme:52990007AXNSS4PNX352",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"fact-194": {
"value": "-94300000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:CashFlowsFromUsedInInvestingActivities",
"entity": "scheme:52990007AXNSS4PNX352",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"fact-195": {
"value": "-30000000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:CashFlowsFromUsedInIncreaseDecreaseInCurrentBorrowings",
"entity": "scheme:52990007AXNSS4PNX352",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"fact-196": {
"value": "10000000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:CashFlowsFromUsedInIncreaseDecreaseInCurrentBorrowings",
"entity": "scheme:52990007AXNSS4PNX352",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"fact-197": {
"value": "0",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:ProceedsFromBorrowingsClassifiedAsFinancingActivities",
"entity": "scheme:52990007AXNSS4PNX352",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"fact-198": {
"value": "293500000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:ProceedsFromBorrowingsClassifiedAsFinancingActivities",
"entity": "scheme:52990007AXNSS4PNX352",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"fact-199": {
"value": "1500000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:RepaymentsOfBorrowingsClassifiedAsFinancingActivities",
"entity": "scheme:52990007AXNSS4PNX352",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"fact-200": {
"value": "234900000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:RepaymentsOfBorrowingsClassifiedAsFinancingActivities",
"entity": "scheme:52990007AXNSS4PNX352",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"fact-201": {
"value": "11100000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:PaymentsOfLeaseLiabilitiesClassifiedAsFinancingActivities",
"entity": "scheme:52990007AXNSS4PNX352",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"fact-202": {
"value": "12000000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:PaymentsOfLeaseLiabilitiesClassifiedAsFinancingActivities",
"entity": "scheme:52990007AXNSS4PNX352",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"fact-203": {
"value": "15100000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:DividendsPaidClassifiedAsFinancingActivities",
"entity": "scheme:52990007AXNSS4PNX352",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"fact-204": {
"value": "30400000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:DividendsPaidClassifiedAsFinancingActivities",
"entity": "scheme:52990007AXNSS4PNX352",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"fact-205": {
"value": "-57700000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:CashFlowsFromUsedInFinancingActivities",
"entity": "scheme:52990007AXNSS4PNX352",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"fact-206": {
"value": "26200000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:CashFlowsFromUsedInFinancingActivities",
"entity": "scheme:52990007AXNSS4PNX352",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"fact-207": {
"value": "119200000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:IncreaseDecreaseInCashAndCashEquivalentsBeforeEffectOfExchangeRateChanges",
"entity": "scheme:52990007AXNSS4PNX352",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"fact-208": {
"value": "-68500000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:IncreaseDecreaseInCashAndCashEquivalentsBeforeEffectOfExchangeRateChanges",
"entity": "scheme:52990007AXNSS4PNX352",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"fact-209": {
"value": "91400000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:CashAndCashEquivalents",
"entity": "scheme:52990007AXNSS4PNX352",
"period": "2023-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"fact-210": {
"value": "168900000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:CashAndCashEquivalents",
"entity": "scheme:52990007AXNSS4PNX352",
"period": "2022-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"fact-211": {
"value": "2100000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:EffectOfExchangeRateChangesOnCashAndCashEquivalents",
"entity": "scheme:52990007AXNSS4PNX352",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"fact-212": {
"value": "-9000000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:EffectOfExchangeRateChangesOnCashAndCashEquivalents",
"entity": "scheme:52990007AXNSS4PNX352",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"fact-213": {
"value": "119200000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:IncreaseDecreaseInCashAndCashEquivalentsBeforeEffectOfExchangeRateChanges",
"entity": "scheme:52990007AXNSS4PNX352",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"fact-214": {
"value": "-68500000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:IncreaseDecreaseInCashAndCashEquivalentsBeforeEffectOfExchangeRateChanges",
"entity": "scheme:52990007AXNSS4PNX352",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"fact-215": {
"value": "212700000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:CashAndCashEquivalents",
"entity": "scheme:52990007AXNSS4PNX352",
"period": "2024-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"fact-216": {
"value": "91400000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:CashAndCashEquivalents",
"entity": "scheme:52990007AXNSS4PNX352",
"period": "2023-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"fact-217": {
"value": "61500000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:Equity",
"entity": "scheme:52990007AXNSS4PNX352",
"period": "2022-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:IssuedCapitalMember",
"unit": "iso4217:EUR"
}
},
"fact-218": {
"value": "336800000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:Equity",
"entity": "scheme:52990007AXNSS4PNX352",
"period": "2022-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:CapitalReserveMember",
"unit": "iso4217:EUR"
}
},
"fact-219": {
"value": "400000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:Equity",
"entity": "scheme:52990007AXNSS4PNX352",
"period": "2022-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:StatutoryReserveMember",
"unit": "iso4217:EUR"
}
},
"fact-220": {
"value": "1700000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:Equity",
"entity": "scheme:52990007AXNSS4PNX352",
"period": "2022-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:ReserveOfCashFlowHedgesMember",
"unit": "iso4217:EUR"
}
},
"fact-221": {
"value": "-15000000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:Equity",
"entity": "scheme:52990007AXNSS4PNX352",
"period": "2022-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:ReserveOfExchangeDifferencesOnTranslationMember",
"unit": "iso4217:EUR"
}
},
"fact-222": {
"value": "121600000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:Equity",
"entity": "scheme:52990007AXNSS4PNX352",
"period": "2022-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:RetainedEarningsMember",
"unit": "iso4217:EUR"
}
},
"fact-223": {
"value": "507000000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:Equity",
"entity": "scheme:52990007AXNSS4PNX352",
"period": "2022-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:EquityAttributableToOwnersOfParentMember",
"unit": "iso4217:EUR"
}
},
"fact-224": {
"value": "900000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:Equity",
"entity": "scheme:52990007AXNSS4PNX352",
"period": "2022-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:NoncontrollingInterestsMember",
"unit": "iso4217:EUR"
}
},
"fact-225": {
"value": "507900000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:Equity",
"entity": "scheme:52990007AXNSS4PNX352",
"period": "2022-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"fact-226": {
"value": "17900000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:ProfitLoss",
"entity": "scheme:52990007AXNSS4PNX352",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:RetainedEarningsMember",
"unit": "iso4217:EUR"
}
},
"fact-227": {
"value": "17900000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:ProfitLoss",
"entity": "scheme:52990007AXNSS4PNX352",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:EquityAttributableToOwnersOfParentMember",
"unit": "iso4217:EUR"
}
},
"fact-228": {
"value": "200000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:ProfitLoss",
"entity": "scheme:52990007AXNSS4PNX352",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:NoncontrollingInterestsMember",
"unit": "iso4217:EUR"
}
},
"fact-229": {
"value": "18100000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:ProfitLoss",
"entity": "scheme:52990007AXNSS4PNX352",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"fact-230": {
"value": "2400000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:OtherComprehensiveIncomeNetOfTaxCashFlowHedges",
"entity": "scheme:52990007AXNSS4PNX352",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:ReserveOfCashFlowHedgesMember",
"unit": "iso4217:EUR"
}
},
"fact-231": {
"value": "2400000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:OtherComprehensiveIncomeNetOfTaxCashFlowHedges",
"entity": "scheme:52990007AXNSS4PNX352",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:EquityAttributableToOwnersOfParentMember",
"unit": "iso4217:EUR"
}
},
"fact-232": {
"value": "2400000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:OtherComprehensiveIncomeNetOfTaxCashFlowHedges",
"entity": "scheme:52990007AXNSS4PNX352",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"fact-233": {
"value": "-18000000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:OtherComprehensiveIncomeNetOfTaxExchangeDifferencesOnTranslationOtherThanTranslationOfForeignOperations",
"entity": "scheme:52990007AXNSS4PNX352",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:ReserveOfExchangeDifferencesOnTranslationMember",
"unit": "iso4217:EUR"
}
},
"fact-234": {
"value": "1100000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:OtherComprehensiveIncomeNetOfTaxExchangeDifferencesOnTranslationOtherThanTranslationOfForeignOperations",
"entity": "scheme:52990007AXNSS4PNX352",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:RetainedEarningsMember",
"unit": "iso4217:EUR"
}
},
"fact-235": {
"value": "-17000000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:OtherComprehensiveIncomeNetOfTaxExchangeDifferencesOnTranslationOtherThanTranslationOfForeignOperations",
"entity": "scheme:52990007AXNSS4PNX352",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:EquityAttributableToOwnersOfParentMember",
"unit": "iso4217:EUR"
}
},
"fact-236": {
"value": "0",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:OtherComprehensiveIncomeNetOfTaxExchangeDifferencesOnTranslationOtherThanTranslationOfForeignOperations",
"entity": "scheme:52990007AXNSS4PNX352",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:NoncontrollingInterestsMember",
"unit": "iso4217:EUR"
}
},
"fact-237": {
"value": "-16900000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:OtherComprehensiveIncomeNetOfTaxExchangeDifferencesOnTranslationOtherThanTranslationOfForeignOperations",
"entity": "scheme:52990007AXNSS4PNX352",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"fact-238": {
"value": "100000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:OtherComprehensiveIncomeNetOfTaxGainsLossesOnRemeasurementsOfDefinedBenefitPlans",
"entity": "scheme:52990007AXNSS4PNX352",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:RetainedEarningsMember",
"unit": "iso4217:EUR"
}
},
"fact-239": {
"value": "100000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:OtherComprehensiveIncomeNetOfTaxGainsLossesOnRemeasurementsOfDefinedBenefitPlans",
"entity": "scheme:52990007AXNSS4PNX352",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:EquityAttributableToOwnersOfParentMember",
"unit": "iso4217:EUR"
}
},
"fact-240": {
"value": "100000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:OtherComprehensiveIncomeNetOfTaxGainsLossesOnRemeasurementsOfDefinedBenefitPlans",
"entity": "scheme:52990007AXNSS4PNX352",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"fact-241": {
"value": "2400000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:ComprehensiveIncome",
"entity": "scheme:52990007AXNSS4PNX352",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:ReserveOfCashFlowHedgesMember",
"unit": "iso4217:EUR"
}
},
"fact-242": {
"value": "-18000000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:ComprehensiveIncome",
"entity": "scheme:52990007AXNSS4PNX352",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:ReserveOfExchangeDifferencesOnTranslationMember",
"unit": "iso4217:EUR"
}
},
"fact-243": {
"value": "19000000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:ComprehensiveIncome",
"entity": "scheme:52990007AXNSS4PNX352",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:RetainedEarningsMember",
"unit": "iso4217:EUR"
}
},
"fact-244": {
"value": "3500000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:ComprehensiveIncome",
"entity": "scheme:52990007AXNSS4PNX352",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:EquityAttributableToOwnersOfParentMember",
"unit": "iso4217:EUR"
}
},
"fact-245": {
"value": "200000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:ComprehensiveIncome",
"entity": "scheme:52990007AXNSS4PNX352",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:NoncontrollingInterestsMember",
"unit": "iso4217:EUR"
}
},
"fact-246": {
"value": "3700000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:ComprehensiveIncome",
"entity": "scheme:52990007AXNSS4PNX352",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"fact-247": {
"value": "-30500000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:DividendsPaid",
"entity": "scheme:52990007AXNSS4PNX352",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:RetainedEarningsMember",
"unit": "iso4217:EUR"
}
},
"fact-248": {
"value": "-30500000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:DividendsPaid",
"entity": "scheme:52990007AXNSS4PNX352",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:EquityAttributableToOwnersOfParentMember",
"unit": "iso4217:EUR"
}
},
"fact-249": {
"value": "-200000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:DividendsPaid",
"entity": "scheme:52990007AXNSS4PNX352",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:NoncontrollingInterestsMember",
"unit": "iso4217:EUR"
}
},
"fact-250": {
"value": "-30700000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:DividendsPaid",
"entity": "scheme:52990007AXNSS4PNX352",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"fact-251": {
"value": "600000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:IncreaseDecreaseThroughSharebasedPaymentTransactions",
"entity": "scheme:52990007AXNSS4PNX352",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:RetainedEarningsMember",
"unit": "iso4217:EUR"
}
},
"fact-252": {
"value": "600000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:IncreaseDecreaseThroughSharebasedPaymentTransactions",
"entity": "scheme:52990007AXNSS4PNX352",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:EquityAttributableToOwnersOfParentMember",
"unit": "iso4217:EUR"
}
},
"fact-253": {
"value": "600000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:IncreaseDecreaseThroughSharebasedPaymentTransactions",
"entity": "scheme:52990007AXNSS4PNX352",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"fact-254": {
"value": "-29900000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:IncreaseDecreaseThroughTransactionsWithOwners",
"entity": "scheme:52990007AXNSS4PNX352",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:RetainedEarningsMember",
"unit": "iso4217:EUR"
}
},
"fact-255": {
"value": "-29900000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:IncreaseDecreaseThroughTransactionsWithOwners",
"entity": "scheme:52990007AXNSS4PNX352",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:EquityAttributableToOwnersOfParentMember",
"unit": "iso4217:EUR"
}
},
"fact-256": {
"value": "-200000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:IncreaseDecreaseThroughTransactionsWithOwners",
"entity": "scheme:52990007AXNSS4PNX352",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:NoncontrollingInterestsMember",
"unit": "iso4217:EUR"
}
},
"fact-257": {
"value": "-30200000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:IncreaseDecreaseThroughTransactionsWithOwners",
"entity": "scheme:52990007AXNSS4PNX352",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"fact-258": {
"value": "61500000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:Equity",
"entity": "scheme:52990007AXNSS4PNX352",
"period": "2023-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:IssuedCapitalMember",
"unit": "iso4217:EUR"
}
},
"fact-259": {
"value": "336800000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:Equity",
"entity": "scheme:52990007AXNSS4PNX352",
"period": "2023-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:CapitalReserveMember",
"unit": "iso4217:EUR"
}
},
"fact-260": {
"value": "500000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:Equity",
"entity": "scheme:52990007AXNSS4PNX352",
"period": "2023-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:StatutoryReserveMember",
"unit": "iso4217:EUR"
}
},
"fact-261": {
"value": "4200000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:Equity",
"entity": "scheme:52990007AXNSS4PNX352",
"period": "2023-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:ReserveOfCashFlowHedgesMember",
"unit": "iso4217:EUR"
}
},
"fact-262": {
"value": "-33000000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:Equity",
"entity": "scheme:52990007AXNSS4PNX352",
"period": "2023-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:ReserveOfExchangeDifferencesOnTranslationMember",
"unit": "iso4217:EUR"
}
},
"fact-263": {
"value": "110700000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:Equity",
"entity": "scheme:52990007AXNSS4PNX352",
"period": "2023-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:RetainedEarningsMember",
"unit": "iso4217:EUR"
}
},
"fact-264": {
"value": "480500000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:Equity",
"entity": "scheme:52990007AXNSS4PNX352",
"period": "2023-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:EquityAttributableToOwnersOfParentMember",
"unit": "iso4217:EUR"
}
},
"fact-265": {
"value": "900000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:Equity",
"entity": "scheme:52990007AXNSS4PNX352",
"period": "2023-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:NoncontrollingInterestsMember",
"unit": "iso4217:EUR"
}
},
"fact-266": {
"value": "481400000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:Equity",
"entity": "scheme:52990007AXNSS4PNX352",
"period": "2023-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"fact-267": {
"value": "61500000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:Equity",
"entity": "scheme:52990007AXNSS4PNX352",
"period": "2023-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:IssuedCapitalMember",
"unit": "iso4217:EUR"
}
},
"fact-268": {
"value": "336800000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:Equity",
"entity": "scheme:52990007AXNSS4PNX352",
"period": "2023-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:CapitalReserveMember",
"unit": "iso4217:EUR"
}
},
"fact-269": {
"value": "500000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:Equity",
"entity": "scheme:52990007AXNSS4PNX352",
"period": "2023-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:StatutoryReserveMember",
"unit": "iso4217:EUR"
}
},
"fact-270": {
"value": "4200000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:Equity",
"entity": "scheme:52990007AXNSS4PNX352",
"period": "2023-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:ReserveOfCashFlowHedgesMember",
"unit": "iso4217:EUR"
}
},
"fact-271": {
"value": "-33000000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:Equity",
"entity": "scheme:52990007AXNSS4PNX352",
"period": "2023-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:ReserveOfExchangeDifferencesOnTranslationMember",
"unit": "iso4217:EUR"
}
},
"fact-272": {
"value": "110700000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:Equity",
"entity": "scheme:52990007AXNSS4PNX352",
"period": "2023-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:RetainedEarningsMember",
"unit": "iso4217:EUR"
}
},
"fact-273": {
"value": "480500000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:Equity",
"entity": "scheme:52990007AXNSS4PNX352",
"period": "2023-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:EquityAttributableToOwnersOfParentMember",
"unit": "iso4217:EUR"
}
},
"fact-274": {
"value": "900000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:Equity",
"entity": "scheme:52990007AXNSS4PNX352",
"period": "2023-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:NoncontrollingInterestsMember",
"unit": "iso4217:EUR"
}
},
"fact-275": {
"value": "481400000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:Equity",
"entity": "scheme:52990007AXNSS4PNX352",
"period": "2023-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"fact-276": {
"value": "-39900000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:ProfitLoss",
"entity": "scheme:52990007AXNSS4PNX352",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:RetainedEarningsMember",
"unit": "iso4217:EUR"
}
},
"fact-277": {
"value": "-39900000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:ProfitLoss",
"entity": "scheme:52990007AXNSS4PNX352",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:EquityAttributableToOwnersOfParentMember",
"unit": "iso4217:EUR"
}
},
"fact-278": {
"value": "0",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:ProfitLoss",
"entity": "scheme:52990007AXNSS4PNX352",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:NoncontrollingInterestsMember",
"unit": "iso4217:EUR"
}
},
"fact-279": {
"value": "-39900000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:ProfitLoss",
"entity": "scheme:52990007AXNSS4PNX352",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"fact-280": {
"value": "-5700000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:OtherComprehensiveIncomeNetOfTaxCashFlowHedges",
"entity": "scheme:52990007AXNSS4PNX352",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:ReserveOfCashFlowHedgesMember",
"unit": "iso4217:EUR"
}
},
"fact-281": {
"value": "-5700000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:OtherComprehensiveIncomeNetOfTaxCashFlowHedges",
"entity": "scheme:52990007AXNSS4PNX352",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:EquityAttributableToOwnersOfParentMember",
"unit": "iso4217:EUR"
}
},
"fact-282": {
"value": "0",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:OtherComprehensiveIncomeNetOfTaxCashFlowHedges",
"entity": "scheme:52990007AXNSS4PNX352",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:NoncontrollingInterestsMember",
"unit": "iso4217:EUR"
}
},
"fact-283": {
"value": "-5700000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:OtherComprehensiveIncomeNetOfTaxCashFlowHedges",
"entity": "scheme:52990007AXNSS4PNX352",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"fact-284": {
"value": "-11000000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:OtherComprehensiveIncomeNetOfTaxExchangeDifferencesOnTranslationOtherThanTranslationOfForeignOperations",
"entity": "scheme:52990007AXNSS4PNX352",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:ReserveOfExchangeDifferencesOnTranslationMember",
"unit": "iso4217:EUR"
}
},
"fact-285": {
"value": "-1700000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:OtherComprehensiveIncomeNetOfTaxExchangeDifferencesOnTranslationOtherThanTranslationOfForeignOperations",
"entity": "scheme:52990007AXNSS4PNX352",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:RetainedEarningsMember",
"unit": "iso4217:EUR"
}
},
"fact-286": {
"value": "-12700000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:OtherComprehensiveIncomeNetOfTaxExchangeDifferencesOnTranslationOtherThanTranslationOfForeignOperations",
"entity": "scheme:52990007AXNSS4PNX352",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:EquityAttributableToOwnersOfParentMember",
"unit": "iso4217:EUR"
}
},
"fact-287": {
"value": "-100000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:OtherComprehensiveIncomeNetOfTaxExchangeDifferencesOnTranslationOtherThanTranslationOfForeignOperations",
"entity": "scheme:52990007AXNSS4PNX352",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:NoncontrollingInterestsMember",
"unit": "iso4217:EUR"
}
},
"fact-288": {
"value": "-12800000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:OtherComprehensiveIncomeNetOfTaxExchangeDifferencesOnTranslationOtherThanTranslationOfForeignOperations",
"entity": "scheme:52990007AXNSS4PNX352",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"fact-289": {
"value": "-100000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:OtherComprehensiveIncomeNetOfTaxGainsLossesOnRemeasurementsOfDefinedBenefitPlans",
"entity": "scheme:52990007AXNSS4PNX352",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:RetainedEarningsMember",
"unit": "iso4217:EUR"
}
},
"fact-290": {
"value": "-100000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:OtherComprehensiveIncomeNetOfTaxGainsLossesOnRemeasurementsOfDefinedBenefitPlans",
"entity": "scheme:52990007AXNSS4PNX352",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:EquityAttributableToOwnersOfParentMember",
"unit": "iso4217:EUR"
}
},
"fact-291": {
"value": "-100000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:OtherComprehensiveIncomeNetOfTaxGainsLossesOnRemeasurementsOfDefinedBenefitPlans",
"entity": "scheme:52990007AXNSS4PNX352",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"fact-292": {
"value": "-5700000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:ComprehensiveIncome",
"entity": "scheme:52990007AXNSS4PNX352",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:ReserveOfCashFlowHedgesMember",
"unit": "iso4217:EUR"
}
},
"fact-293": {
"value": "-11000000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:ComprehensiveIncome",
"entity": "scheme:52990007AXNSS4PNX352",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:ReserveOfExchangeDifferencesOnTranslationMember",
"unit": "iso4217:EUR"
}
},
"fact-294": {
"value": "-41800000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:ComprehensiveIncome",
"entity": "scheme:52990007AXNSS4PNX352",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:RetainedEarningsMember",
"unit": "iso4217:EUR"
}
},
"fact-295": {
"value": "-58400000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:ComprehensiveIncome",
"entity": "scheme:52990007AXNSS4PNX352",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:EquityAttributableToOwnersOfParentMember",
"unit": "iso4217:EUR"
}
},
"fact-296": {
"value": "-100000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:ComprehensiveIncome",
"entity": "scheme:52990007AXNSS4PNX352",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:NoncontrollingInterestsMember",
"unit": "iso4217:EUR"
}
},
"fact-297": {
"value": "-58500000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:ComprehensiveIncome",
"entity": "scheme:52990007AXNSS4PNX352",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"fact-298": {
"value": "-14900000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:DividendsPaid",
"entity": "scheme:52990007AXNSS4PNX352",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:RetainedEarningsMember",
"unit": "iso4217:EUR"
}
},
"fact-299": {
"value": "-14900000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:DividendsPaid",
"entity": "scheme:52990007AXNSS4PNX352",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:EquityAttributableToOwnersOfParentMember",
"unit": "iso4217:EUR"
}
},
"fact-300": {
"value": "-200000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:DividendsPaid",
"entity": "scheme:52990007AXNSS4PNX352",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:NoncontrollingInterestsMember",
"unit": "iso4217:EUR"
}
},
"fact-301": {
"value": "-15100000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:DividendsPaid",
"entity": "scheme:52990007AXNSS4PNX352",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"fact-302": {
"value": "0",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:IncreaseDecreaseThroughSharebasedPaymentTransactions",
"entity": "scheme:52990007AXNSS4PNX352",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:RetainedEarningsMember",
"unit": "iso4217:EUR"
}
},
"fact-303": {
"value": "0",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:IncreaseDecreaseThroughSharebasedPaymentTransactions",
"entity": "scheme:52990007AXNSS4PNX352",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:EquityAttributableToOwnersOfParentMember",
"unit": "iso4217:EUR"
}
},
"fact-304": {
"value": "0",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:IncreaseDecreaseThroughSharebasedPaymentTransactions",
"entity": "scheme:52990007AXNSS4PNX352",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"fact-305": {
"value": "-14800000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:IncreaseDecreaseThroughTransactionsWithOwners",
"entity": "scheme:52990007AXNSS4PNX352",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:RetainedEarningsMember",
"unit": "iso4217:EUR"
}
},
"fact-306": {
"value": "-14800000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:IncreaseDecreaseThroughTransactionsWithOwners",
"entity": "scheme:52990007AXNSS4PNX352",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:EquityAttributableToOwnersOfParentMember",
"unit": "iso4217:EUR"
}
},
"fact-307": {
"value": "-200000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:IncreaseDecreaseThroughTransactionsWithOwners",
"entity": "scheme:52990007AXNSS4PNX352",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:NoncontrollingInterestsMember",
"unit": "iso4217:EUR"
}
},
"fact-308": {
"value": "-15100000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:IncreaseDecreaseThroughTransactionsWithOwners",
"entity": "scheme:52990007AXNSS4PNX352",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"fact-309": {
"value": "-500000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:IncreaseDecreaseThroughTransfersAndOtherChangesEquity",
"entity": "scheme:52990007AXNSS4PNX352",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:StatutoryReserveMember",
"unit": "iso4217:EUR"
}
},
"fact-310": {
"value": "500000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:IncreaseDecreaseThroughTransfersAndOtherChangesEquity",
"entity": "scheme:52990007AXNSS4PNX352",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:RetainedEarningsMember",
"unit": "iso4217:EUR"
}
},
"fact-311": {
"value": "0",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:IncreaseDecreaseThroughTransfersAndOtherChangesEquity",
"entity": "scheme:52990007AXNSS4PNX352",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:EquityAttributableToOwnersOfParentMember",
"unit": "iso4217:EUR"
}
},
"fact-312": {
"value": "0",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:IncreaseDecreaseThroughTransfersAndOtherChangesEquity",
"entity": "scheme:52990007AXNSS4PNX352",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"fact-313": {
"value": "61500000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:Equity",
"entity": "scheme:52990007AXNSS4PNX352",
"period": "2024-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:IssuedCapitalMember",
"unit": "iso4217:EUR"
}
},
"fact-314": {
"value": "336800000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:Equity",
"entity": "scheme:52990007AXNSS4PNX352",
"period": "2024-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:CapitalReserveMember",
"unit": "iso4217:EUR"
}
},
"fact-315": {
"value": "0",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:Equity",
"entity": "scheme:52990007AXNSS4PNX352",
"period": "2024-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:StatutoryReserveMember",
"unit": "iso4217:EUR"
}
},
"fact-316": {
"value": "-1500000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:Equity",
"entity": "scheme:52990007AXNSS4PNX352",
"period": "2024-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:ReserveOfCashFlowHedgesMember",
"unit": "iso4217:EUR"
}
},
"fact-317": {
"value": "-44000000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:Equity",
"entity": "scheme:52990007AXNSS4PNX352",
"period": "2024-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:ReserveOfExchangeDifferencesOnTranslationMember",
"unit": "iso4217:EUR"
}
},
"fact-318": {
"value": "54400000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:Equity",
"entity": "scheme:52990007AXNSS4PNX352",
"period": "2024-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:RetainedEarningsMember",
"unit": "iso4217:EUR"
}
},
"fact-319": {
"value": "407300000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:Equity",
"entity": "scheme:52990007AXNSS4PNX352",
"period": "2024-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:EquityAttributableToOwnersOfParentMember",
"unit": "iso4217:EUR"
}
},
"fact-320": {
"value": "500000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:Equity",
"entity": "scheme:52990007AXNSS4PNX352",
"period": "2024-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:NoncontrollingInterestsMember",
"unit": "iso4217:EUR"
}
},
"fact-321": {
"value": "407800000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:Equity",
"entity": "scheme:52990007AXNSS4PNX352",
"period": "2024-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"fact-322": {
"value": "Notes to the consolidated financial statements GENERAL INFORMATION Information on Anora Anora Group Plc (\u2018company\u2019, \u2018parent company\u2019), a public limited liability company, and its subsidiaries (together \u2018Anora Group\u2019, \u2018Anora\u2019 or \u2018Group\u2019) is a leading wine and spirits brand house in the Nordic region . Anora has a broad portfolio of iconic brands, including Koskenkorva, Linie, Skagerrak, Chill Out, Ruby Zin, Wongraven, O.P. Anderson and Falling Feather. Key brands are exported to over 30 markets globally. Together with partners Anora brings the world of drinks to the Nordics. Anora has a strong partner portfolio which include several well-known wine producers from all over the world, as well as spirits producers with well-known spirits brands, like Jack Daniels, Fireball, Fernet Branca, Jose Cuervo, Larsen and Underberg. Anora\u2019s business operations also include world-class industrial operations in distillation, bottling and logistics services as well as the production of technical ethanol products, neutral potable ethanol, feed components and barley starch. Anora\u2019s customers include alcohol retail monopolies, alcoholic beverage wholesale outlets, restaurants, grocery stores, travel trade, importers in the export markets and industrial customers. Anora Group Plc, the parent company of Anora Group, is domiciled in Helsinki, Finland. Anora Group Plc is a Finnish publicly listed company. Anora\u2019s shares are listed in Nasdaq Helsinki. The registered address of the Company is Kaapeliaukio 1, FI-00180 Helsinki, Finland. Copies of the consolidated financial statements are available online at www.anora.com or at the Group\u2019s headquarters at Kaapeliaukio 1, FI-00180 Helsinki, Finland. Anora Group Plc\u2019s Board of Directors has approved these financial statements for publication in its meeting on 19 March 2024. According to the Finnish Limited Liability Companies Act, shareholders have the right to approve or reject the financial statements in the Annual General Meeting held after the publication of the financial statements. The Annual General Meeting also has the right to make a decision to amend the financial statements. Basis of preparation The consolidated financial statements for the year ended 31 December 2023 are prepared in accordance with IFRS Accounting Standards complying with the SIC and IFRIC interpretations in force and approved by EU on 31 December 2023. Notes to the consolidated financial statements also comply with the requirements of the Finnish Accounting Act and Limited Liability Companies Act. The consolidated financial statements for the year ended 31 December 2023 has been prepared on a historical cost basis, except for equity investments and derivatives. The consolidated financial statements are presented in millions of euros. The figures are rounded to the nearest million with one decimal, and therefore the sum of individual figures may deviate from the total presented. If the figure is EUR 0, it is shown as a hyphen. From 1 January 2023, IASB\u2019s amendment on IAS 12 regarding deferred taxes related to Assets and Liabilities arising from a Single Transaction became effective. This amendment regulates the way that entities account for deferred tax on transactions that lead to initial recognition of both an asset and a liability and narrow the scope of the initial recognition exception so that it no longer applies to transactions that give rise to equal taxable and deductible temporary differences. Amendment is applied to transactions that occur on or after the beginning of the earliest comparative period presented. For Anora Group, this applies to all temporary differences related to right of use assets and lease liabilities at the beginning of the earliest comparative period, January 1, 2022. This amendment has had no effect on the income statement or balance sheet figures of the Group, as deferred taxes on temporary differences related to right of used assets and lease liabilities have been historically recognized. However resulting deferred tax assets and liabilities were previously disclosed on a net basis on balance sheet and in notes. Therefore the only effect for the Group from applying this amendment is the gross presentation of deferred tax assets and liabilities arising from leases in note 6.1. There were no other changes in accounting standards or other accounting requirements which entered into force from 1 January 2023 that have had material impact for Anora Group. There are no new IFRS standards, amendments to standards and IFRIC interpretations effective on or after January 1, 2024, that are expected to have any material impact on the Group Accounting policies requiring management judgement and key sources of estimation uncertainty The preparation of financial statements requires management to make accounting estimates which may include use of judgement in the application of the accounting standards. Estimates and related assumptions made in the preparation of the financial statements, are based on the management\u2019s best knowledge at the reporting date. The realised results can differ from the estimates, and any changes in estimates and assumptions are recognised when estimates and assumptions are corrected. Material accounting policies and critical accounting estimates and judgements made are described to each note as follows; \u2022 Revenue recognition - Note 1.2 \u2022 Intangible assets - Note 2.1 \u2022 Property, plant and equipment \u2013 Note 2.2 \u2022 Right of use assets \u2013 Note 2.3 \u2022 Financial assets and liabilities \u2013 Note 3.2 \u2022 Inventories \u2013 Note 2.4 \u2022 Trade and other receivables \u2013 Note 2.5 \u2022 Employee benefit obligations \u2013 Note 2.6 and 6.4 \u2022 Changes in Group structure \u2013 Note 5.2 \u2022 Income taxes \u2013 Note 6.1 Accounting note reclassifications Where necessary, comparative information has been reclassified to achieve consistency in disclosure with current financial year amounts. There have been no such reclassifications in relation to consolidated income statement or consolidated balance sheet. Reclassifications in individual notes are further described if material.",
"dimensions": {
"concept": "ifrs-full:DisclosureOfMaterialAccountingPolicyInformationExplanatory",
"language": "en",
"entity": "scheme:52990007AXNSS4PNX352",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"fact-323": {
"value": "Notes to the consolidated financial statements GENERAL INFORMATION Information on Anora Anora Group Plc (\u2018company\u2019, \u2018parent company\u2019), a public limited liability company, and its subsidiaries (together \u2018Anora Group\u2019, \u2018Anora\u2019 or \u2018Group\u2019) is a leading wine and spirits brand house in the Nordic region . Anora has a broad portfolio of iconic brands, including Koskenkorva, Linie, Skagerrak, Chill Out, Ruby Zin, Wongraven, O.P. Anderson and Falling Feather. Key brands are exported to over 30 markets globally. Together with partners Anora brings the world of drinks to the Nordics. Anora has a strong partner portfolio which include several well-known wine producers from all over the world, as well as spirits producers with well-known spirits brands, like Jack Daniels, Fireball, Fernet Branca, Jose Cuervo, Larsen and Underberg. Anora\u2019s business operations also include world-class industrial operations in distillation, bottling and logistics services as well as the production of technical ethanol products, neutral potable ethanol, feed components and barley starch. Anora\u2019s customers include alcohol retail monopolies, alcoholic beverage wholesale outlets, restaurants, grocery stores, travel trade, importers in the export markets and industrial customers. Anora Group Plc, the parent company of Anora Group, is domiciled in Helsinki, Finland. Anora Group Plc is a Finnish publicly listed company. Anora\u2019s shares are listed in Nasdaq Helsinki. The registered address of the Company is Kaapeliaukio 1, FI-00180 Helsinki, Finland. Copies of the consolidated financial statements are available online at www.anora.com or at the Group\u2019s headquarters at Kaapeliaukio 1, FI-00180 Helsinki, Finland. Anora Group Plc\u2019s Board of Directors has approved these financial statements for publication in its meeting on 19 March 2024. According to the Finnish Limited Liability Companies Act, shareholders have the right to approve or reject the financial statements in the Annual General Meeting held after the publication of the financial statements. The Annual General Meeting also has the right to make a decision to amend the financial statements. Basis of preparation The consolidated financial statements for the year ended 31 December 2023 are prepared in accordance with IFRS Accounting Standards complying with the SIC and IFRIC interpretations in force and approved by EU on 31 December 2023. Notes to the consolidated financial statements also comply with the requirements of the Finnish Accounting Act and Limited Liability Companies Act. The consolidated financial statements for the year ended 31 December 2023 has been prepared on a historical cost basis, except for equity investments and derivatives. The consolidated financial statements are presented in millions of euros. The figures are rounded to the nearest million with one decimal, and therefore the sum of individual figures may deviate from the total presented. If the figure is EUR 0, it is shown as a hyphen. From 1 January 2023, IASB\u2019s amendment on IAS 12 regarding deferred taxes related to Assets and Liabilities arising from a Single Transaction became effective. This amendment regulates the way that entities account for deferred tax on transactions that lead to initial recognition of both an asset and a liability and narrow the scope of the initial recognition exception so that it no longer applies to transactions that give rise to equal taxable and deductible temporary differences. Amendment is applied to transactions that occur on or after the beginning of the earliest comparative period presented. For Anora Group, this applies to all temporary differences related to right of use assets and lease liabilities at the beginning of the earliest comparative period, January 1, 2022. This amendment has had no effect on the income statement or balance sheet figures of the Group, as deferred taxes on temporary differences related to right of used assets and lease liabilities have been historically recognized. However resulting deferred tax assets and liabilities were previously disclosed on a net basis on balance sheet and in notes. Therefore the only effect for the Group from applying this amendment is the gross presentation of deferred tax assets and liabilities arising from leases in note 6.1. There were no other changes in accounting standards or other accounting requirements which entered into force from 1 January 2023 that have had material impact for Anora Group. There are no new IFRS standards, amendments to standards and IFRIC interpretations effective on or after January 1, 2024, that are expected to have any material impact on the Group . Accounting policies requiring management judgement and key sources of estimation uncertainty The preparation of financial statements requires management to make accounting estimates which may include use of judgement in the application of the accounting standards. Estimates and related assumptions made in the preparation of the financial statements, are based on the management\u2019s best knowledge at the reporting date. The realised results can differ from the estimates, and any changes in estimates and assumptions are recognised when estimates and assumptions are corrected. Material accounting policies and critical accounting estimates and judgements made are described to each note as follows; \u2022 Revenue recognition - Note 1.2 \u2022 Intangible assets - Note 2.1 \u2022 Property, plant and equipment \u2013 Note 2.2 \u2022 Right of use assets \u2013 Note 2.3 \u2022 Financial assets and liabilities \u2013 Note 3.2 \u2022 Inventories \u2013 Note 2.4 \u2022 Trade and other receivables \u2013 Note 2.5 \u2022 Employee benefit obligations \u2013 Note 2.6 and 6.4 \u2022 Changes in Group structure \u2013 Note 5.2 \u2022 Income taxes \u2013 Note 6.1 Accounting note reclassifications Where necessary, comparative information has been reclassified to achieve consistency in disclosure with current financial year amounts. There have been no such reclassifications in relation to consolidated income statement or consolidated balance sheet. Reclassifications in individual notes are further described if material",
"dimensions": {
"concept": "ifrs-full:DisclosureOfSummaryOfSignificantAccountingPoliciesExplanatory",
"language": "en",
"entity": "scheme:52990007AXNSS4PNX352",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"fact-324": {
"value": "Anora Group Plc",
"dimensions": {
"concept": "ifrs-full:NameOfReportingEntityOrOtherMeansOfIdentification",
"language": "en",
"entity": "scheme:52990007AXNSS4PNX352",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"fact-325": {
"value": "leading wine and spirits brand house in the Nordic region ",
"dimensions": {
"concept": "ifrs-full:DescriptionOfNatureOfEntitysOperationsAndPrincipalActivities",
"language": "en",
"entity": "scheme:52990007AXNSS4PNX352",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"fact-326": {
"value": "Anora Group Plc",
"dimensions": {
"concept": "ifrs-full:NameOfUltimateParentOfGroup",
"language": "en",
"entity": "scheme:52990007AXNSS4PNX352",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"fact-327": {
"value": "Helsinki",
"dimensions": {
"concept": "ifrs-full:PrincipalPlaceOfBusiness",
"language": "en",
"entity": "scheme:52990007AXNSS4PNX352",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"fact-328": {
"value": "Anora Group Plc",
"dimensions": {
"concept": "ifrs-full:NameOfParentEntity",
"language": "en",
"entity": "scheme:52990007AXNSS4PNX352",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"fact-329": {
"value": "Finnish ",
"dimensions": {
"concept": "ifrs-full:CountryOfIncorporation",
"language": "en",
"entity": "scheme:52990007AXNSS4PNX352",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"fact-330": {
"value": "publicly listed company",
"dimensions": {
"concept": "ifrs-full:LegalFormOfEntity",
"language": "en",
"entity": "scheme:52990007AXNSS4PNX352",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"fact-331": {
"value": "Kaapeliaukio 1, FI-00180 Helsinki, Finland",
"dimensions": {
"concept": "ifrs-full:AddressOfRegisteredOfficeOfEntity",
"language": "en",
"entity": "scheme:52990007AXNSS4PNX352",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"fact-332": {
"value": "Helsinki",
"dimensions": {
"concept": "ifrs-full:DomicileOfEntity",
"language": "en",
"entity": "scheme:52990007AXNSS4PNX352",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"fact-333": {
"value": "Anora Group Plc\u2019s Board of Directors has approved these financial statements for publication in its meeting on 19 March 2024. According to the Finnish Limited Liability Companies Act, shareholders have the right to approve or reject the financial statements in the Annual General Meeting held after the publication of the financial statements. The Annual General Meeting also has the right to make a decision to amend the financial statements. ",
"dimensions": {
"concept": "ifrs-full:DisclosureOfAuthorisationOfFinancialStatementsExplanatory",
"language": "en",
"entity": "scheme:52990007AXNSS4PNX352",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"fact-334": {
"value": "Basis of preparation The consolidated financial statements for the year ended 31 December 2023 are prepared in accordance with IFRS Accounting Standards complying with the SIC and IFRIC interpretations in force and approved by EU on 31 December 2023. Notes to the consolidated financial statements also comply with the requirements of the Finnish Accounting Act and Limited Liability Companies Act. The consolidated financial statements for the year ended 31 December 2023 has been prepared on a historical cost basis, except for equity investments and derivatives. The consolidated financial statements are presented in millions of euros. The figures are rounded to the nearest million with one decimal, and therefore the sum of individual figures may deviate from the total presented. If the figure is EUR 0, it is shown as a hyphen. From 1 January 2023, IASB\u2019s amendment on IAS 12 regarding deferred taxes related to Assets and Liabilities arising from a Single Transaction became effective. This amendment regulates the way that entities account for deferred tax on transactions that lead to initial recognition of both an asset and a liability and narrow the scope of the initial recognition exception so that it no longer applies to transactions that give rise to equal taxable and deductible temporary differences. Amendment is applied to transactions that occur on or after the beginning of the earliest comparative period presented. For Anora Group, this applies to all temporary differences related to right of use assets and lease liabilities at the beginning of the earliest comparative period, January 1, 2022. This amendment has had no effect on the income statement or balance sheet figures of the Group, as deferred taxes on temporary differences related to right of used assets and lease liabilities have been historically recognized. However resulting deferred tax assets and liabilities were previously disclosed on a net basis on balance sheet and in notes. Therefore the only effect for the Group from applying this amendment is the gross presentation of deferred tax assets and liabilities arising from leases in note 6.1. There were no other changes in accounting standards or other accounting requirements which entered into force from 1 January 2023 that have had material impact for Anora Group. There are no new IFRS standards, amendments to standards and IFRIC interpretations effective on or after January 1, 2024, that are expected to have any material impact on the Group . ",
"dimensions": {
"concept": "ifrs-full:DescriptionOfOtherAccountingPoliciesRelevantToUnderstandingOfFinancialStatements",
"language": "en",
"entity": "scheme:52990007AXNSS4PNX352",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"fact-335": {
"value": "Basis of preparation The consolidated financial statements for the year ended 31 December 2023 are prepared in accordance with IFRS Accounting Standards complying with the SIC and IFRIC interpretations in force and approved by EU on 31 December 2023. Notes to the consolidated financial statements also comply with the requirements of the Finnish Accounting Act and Limited Liability Companies Act. The consolidated financial statements for the year ended 31 December 2023 has been prepared on a historical cost basis, except for equity investments and derivatives. The consolidated financial statements are presented in millions of euros. The figures are rounded to the nearest million with one decimal, and therefore the sum of individual figures may deviate from the total presented. If the figure is EUR 0, it is shown as a hyphen. From 1 January 2023, IASB\u2019s amendment on IAS 12 regarding deferred taxes related to Assets and Liabilities arising from a Single Transaction became effective. This amendment regulates the way that entities account for deferred tax on transactions that lead to initial recognition of both an asset and a liability and narrow the scope of the initial recognition exception so that it no longer applies to transactions that give rise to equal taxable and deductible temporary differences. Amendment is applied to transactions that occur on or after the beginning of the earliest comparative period presented. For Anora Group, this applies to all temporary differences related to right of use assets and lease liabilities at the beginning of the earliest comparative period, January 1, 2022. This amendment has had no effect on the income statement or balance sheet figures of the Group, as deferred taxes on temporary differences related to right of used assets and lease liabilities have been historically recognized. However resulting deferred tax assets and liabilities were previously disclosed on a net basis on balance sheet and in notes. Therefore the only effect for the Group from applying this amendment is the gross presentation of deferred tax assets and liabilities arising from leases in note 6.1. There were no other changes in accounting standards or other accounting requirements which entered into force from 1 January 2023 that have had material impact for Anora Group. There are no new IFRS standards, amendments to standards and IFRIC interpretations effective on or after January 1, 2024, that are expected to have any material impact on the Group . ",
"dimensions": {
"concept": "ifrs-full:DisclosureOfBasisOfPreparationOfFinancialStatementsExplanatory",
"language": "en",
"entity": "scheme:52990007AXNSS4PNX352",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"fact-336": {
"value": "The consolidated financial statements for the year ended 31 December 2023 are prepared in accordance with IFRS Accounting Standards complying with the SIC and IFRIC interpretations in force and approved by EU on 31 December 2023.",
"dimensions": {
"concept": "ifrs-full:StatementOfIFRSCompliance",
"language": "en",
"entity": "scheme:52990007AXNSS4PNX352",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"fact-337": {
"value": "Accounting policies requiring management judgement and key sources of estimation uncertainty The preparation of financial statements requires management to make accounting estimates which may include use of judgement in the application of the accounting standards. Estimates and related assumptions made in the preparation of the financial statements, are based on the management\u2019s best knowledge at the reporting date. The realised results can differ from the estimates, and any changes in estimates and assumptions are recognised when estimates and assumptions are corrected. Material accounting policies and critical accounting estimates and judgements made are described to each note as follows; \u2022 Revenue recognition - Note 1.2 \u2022 Intangible assets - Note 2.1 \u2022 Property, plant and equipment \u2013 Note 2.2 \u2022 Right of use assets \u2013 Note 2.3 \u2022 Financial assets and liabilities \u2013 Note 3.2 \u2022 Inventories \u2013 Note 2.4 \u2022 Trade and other receivables \u2013 Note 2.5 \u2022 Employee benefit obligations \u2013 Note 2.6 and 6.4 \u2022 Changes in Group structure \u2013 Note 5.2 \u2022 Income taxes \u2013 Note 6.1 Accounting note reclassifications Where necessary, comparative information has been reclassified to achieve consistency in disclosure with current financial year amounts. There have been no such reclassifications in relation to consolidated income statement or consolidated balance sheet. Reclassifications in individual notes are further described if material.",
"dimensions": {
"concept": "ifrs-full:DisclosureOfGeneralInformationAboutFinancialStatementsExplanatory",
"language": "en",
"entity": "scheme:52990007AXNSS4PNX352",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"fact-338": {
"value": "Accounting policies requiring management judgement and key sources of estimation uncertainty The preparation of financial statements requires management to make accounting estimates which may include use of judgement in the application of the accounting standards. Estimates and related assumptions made in the preparation of the financial statements, are based on the management\u2019s best knowledge at the reporting date. The realised results can differ from the estimates, and any changes in estimates and assumptions are recognised when estimates and assumptions are corrected. Material accounting policies and critical accounting estimates and judgements made are described to each note as follows; \u2022 Revenue recognition - Note 1.2 \u2022 Intangible assets - Note 2.1 \u2022 Property, plant and equipment \u2013 Note 2.2 \u2022 Right of use assets \u2013 Note 2.3 \u2022 Financial assets and liabilities \u2013 Note 3.2 \u2022 Inventories \u2013 Note 2.4 \u2022 Trade and other receivables \u2013 Note 2.5 \u2022 Employee benefit obligations \u2013 Note 2.6 and 6.4 \u2022 Changes in Group structure \u2013 Note 5.2 \u2022 Income taxes \u2013 Note 6.1 Critical estimates and management judgement - Revenue recognition Anora provides volume-based rebates, bonuses and other discounts to their customers in open markets and on-trade customers in the monopoly markets. These classify as variable considerations within contracts with customers. The group estimates such variable consideration to which it will be entitled in exchange for transferring goods to the customers. The variable consideration is estimated at a contract inception based on expected sales volumes using historical and year- to-date sales data and other information about trading with individual customers or groups of customers. The Group estimates discounts, rebates and bonuses using the most likely amount method. Contracts assets and liabilities Contract assets represent the amount which Anora has right to receive goods expected to be returned to inventory with respect to return clauses in the contracts. Contract assets are measured at the former carrying amount of the inventory less any expected costs to recover the goods and less any impairment losses. Contract liabilities represent the amount received or receivable that is expected to be returned as a refund liability. These contracts assets or liabilities are very limited in the Group and are included in other receivables or other payables in the Group\u2019s balance sheetCritical estimates and management judgements \u2013 Useful lives of trademarks On initial recognition of marketing related intangible assets, an assessment is made on whether the asset is expected to have definite useful lives or not. In this assessment, the Group gives particular weight to Group\u2019s expected use of the asset, the customary life cycles for the assets of this type, the stability of the sector and the business, and the probability that the Group will succeed in maintaining the asset\u2019s financial lifetime, given the Group\u2019s ability to maintain value. The Group also devotes resources to legal control of these assets in large and important markets. Marketing related intangible assets with definite useful lives are amortised by the straight-line method over the expected useful life. The capitalised value of marketing related intangible assets with indefinite lifetime is tested for impairment at least once a year, or more often if there are indications that the value of the asset has decreased. The estimated useful lives of marketing related intangible assets are as follows: Trademarks with indefinite useful life: not amortized Trademarks with definite useful life: 0\u201350 years Company Brands with definite useful life: 5 years Customer related intangible assets (Customer relations) Customer related intangible assets are arising from business acquisitions and are capitalised at fair value at the time of the business acquisition. Customer related intangible assets are amortised by the straight-line method over the expected useful life. The estimated useful lives of customer related intangible assets are as follows: Customer relations Wine: 7\u201315 years Other intangible assets Other intangible assets include software in addition to prepayments for intangible assets. These other intangible assets are recognised in the balance sheet at the original cost and depreciated over their estimated useful lives. The costs related to other intangible assets are capitalised if it can be demonstrated that the asset will generate the future economic benefits, the entity controls the asset, and the purchase price can be measured reliably. All other expenditure is recognised as an expense when incurred. The estimated useful lives of intangible assets are as follows: IT-development and software: 3\u201310 years Expenditure on research activities is recognised in profit or loss in the period in which it is incurred. The Group has no projects related to the development activities of new products or processes qualifying for the identifiability and other criteria regarding capitalisation under IFRS. Accounting for emission allowances is described in Note 6.2 . Critical estimates and management judgements \u2013 Property, plant and equipment: Estimation of useful life is most critical estimate related to property, plant and equipment Critical estimates and management judgements \u2013 Right of use assets: The most critical management judgements are related to determination of discount rates and use of any possible extension options related to the lease contractsCritical estimates and management judgements \u2013 Deferred tax assets Judgment is required in assessing whether deferred tax assets are recognised on the balance sheet. Deferred tax assets are recognised only where it is considered more likely than not that they will be recovered, which is dependent on the generation of sufficient future taxable profits. Assumptions about the generation of future taxable profits depend on management\u2019s estimates of future cash flows. These future cash flow estimates depend on estimates of future sales volumes, price levels of main raw materials, capital expenditure and other components affecting profitability of the operations. These estimates and assumptions are subject to risk and uncertainty hence it is possible that changes in circumstances will alter expectations, which may impact the amount of deferred tax assets recognised on the balance sheet and the amount of any other tax losses and temporary differences not yet recognised. Anora\u2019s ability to generate taxable profit is also subject to general economic, financial, competitive, legislative and regulatory factors that are beyond its control. If Anora generates lower future taxable profits than what management has assumed in determining the amounts of the recognised deferred tax assets, the assets would be impaired, either partly or in full. Accordingly, amounts recognised in balance sheet could potentially be reversed through profit and loss. Changes in circumstances may also result in recognition of deferred tax assets for tax losses that previously have not been recognised as an asset . ",
"dimensions": {
"concept": "ifrs-full:DisclosureOfAccountingJudgementsAndEstimatesExplanatory",
"language": "en",
"entity": "scheme:52990007AXNSS4PNX352",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"fact-339": {
"value": "Accounting note reclassifications Where necessary, comparative information has been reclassified to achieve consistency in disclosure with current financial year amounts. There have been no such reclassifications in relation to consolidated income statement or consolidated balance sheet. Reclassifications in individual notes are further described if material.",
"dimensions": {
"concept": "ifrs-full:ExplanationOfAdjustmentsThatWouldBeNecessaryToAchieveFairPresentation",
"language": "en",
"entity": "scheme:52990007AXNSS4PNX352",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"fact-340": {
"value": "1 Operating result Net sales EUR million 726.5 Comparable EBITDA EUR million 68.2 3 Financial items and capital structure Earnings per share EUR -0.59 Dividend per share EUR 0.224 Financial and capital risk Gearing 33.7% TABLE 4: MATURITIES OF FINANCIAL LIABILITIES Contractual payments on financial liabilities 2023 Cash flows 2024 Cash flows 2025 Cash flows 2026\u2013 EUR million Total contractual cash flows Fixed rate Variable rate Repayment Fixed rate Variable rate Repayment Fixed rate Variable rate Repayment Non-derivative: Loans from financial institutions 1 -247.2 0.0 -12.4 0.0 0.0 -12.5 0.0 0.0 -12.3 -210.0 Loans from pension institutions 2 -7.0 -0.1 0.0 -1.5 -0.1 0.0 -1.5 -0.1 0.0 -3.8 Lease liabilities -170.0 0.0 -5.4 -13.1 0.0 -4.9 -17.6 0.0 -25.7 -103.3 Trade payables -96.6 -96.6 Derivative: Currency derivatives, hedge accounting Inflow 63.7 0.0 0.0 63.7 0.0 0.0 0.0 0.0 0.0 0.0 Outflow -65.3 0.0 0.0 -65.3 0.0 0.0 0.0 0.0 0.0 0.0 Currency derivatives, non-hedge accounting Inflow 39.0 0.0 0.0 39.0 0.0 0.0 0.0 0.0 0.0 0.0 Outflow -40.0 0.0 0.0 -40.0 0.0 0.0 0.0 0.0 0.0 0.0 Interest rate derivatives, hedge accounting 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Commodity derivatives, hedge accounting -1.2 0.0 0.0 -0.7 0.0 0.0 -0.5 0.0 0.0 0.0 TOTAL -524.5 -0.1 -17.8 -114.6 -0.1 -17.3 -19.6 -0.1 -38.0 -317.0 TABLE 4: MATURITIES OF FINANCIAL LIABILITIES Contractual payments on financial liabilities 2022 Cash flows 2023 Cash flows 2024 Cash flows 2025\u2013 EUR million Total contractual cash flows Fixed rate Variable rate Repayment Fixed rate Variable rate Repayment Fixed rate Variable rate Repayment Non-derivative: Loans from financial institutions 1 -233.8 0.0 -7.9 0.0 0.0 -8.0 0.0 0.0 -7.9 -210.0 Loans from pension institutions 2 -8.5 -0.1 0.0 -1.5 -0.1 0.0 -1.5 -0.1 0.0 -5.3 Lease liabilities -187.4 0.0 -5.3 -12.4 0.0 -4.9 -14.2 0.0 -32.4 -118.3 Trade payables -103.5 0.0 0.0 -103.5 0.0 0.0 0.0 0.0 0.0 0.0 Derivative: Currency derivatives, hedge accounting Inflow 24.0 0.0 0.0 24.0 0.0 0.0 0.0 0.0 0.0 0.0 Outflow -23.5 0.0 0.0 -23.5 0.0 0.0 0.0 0.0 0.0 0.0 Currency derivatives, non-hedge accounting Inflow 5.7 0 0 5.7 0 0 0 0 0 0 Outflow -5.6 0 0 -5.6 0 0 0 0 0 0 Interest rate derivatives, hedge accounting 0.0 0.0 0 0 0.0 0 0 0.0 0 0 Commodity derivatives, hedge accounting -2.4 0 0 -1.2 0 0 -0.7 0 0 -0.5 TOTAL -535.2 -0.1 -13.2 -118.1 -0.1 -12.9 -16.4 -0.1 -40.3 -334.1 TABLE 5: NET DEBT/COMPARABLE EBITDA Net Debit / Comparable EBITDA as of 31 December, EUR million 2023 2022 Comparable EBITDA 68.2 76.1 Borrowings 216.3 247.5 Lease liabilities 134.0 144.8 Cash and cash equivalents 212.7 91.4 Net debt 137.5 300.9 Net Debt /Comparable EBITDA AT 31 DECEMBER 2.0 4.0 5 Consolidation 6 Other notes",
"dimensions": {
"concept": "ifrs-full:DisclosureOfNotesAndOtherExplanatoryInformationExplanatory",
"language": "en",
"entity": "scheme:52990007AXNSS4PNX352",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"fact-341": {
"value": "1.1 SEGMENT INFORMATION Description of segments and principal activities The reportable segments of Anora in these consolidated financial statements consist of Wine, Spirits, and Industrial. The Board of Directors of Anora is determined as the Group\u2019s Chief Operative Decision Maker (CODM) being responsible for allocating resources, deciding on strategy and assessing performance of the operating segments. The reportable segments are based on Anora\u2019s operating structure and internal reporting to the CODM and used to assess the performance of the segments. For internal reporting purposes, reporting on the segment profit is based on internal measures of gross profit and comparable EBITDA derived as follows: \u2022 Net sales and direct segment expenses including costs of goods sold reported within the Gross Profit and Comparable EBITDA segment profit measures are measured and reported under the same accounting principles as in the consolidated accounts. \u2022 Expenses allocated to the segments related to shared function costs or business support services, comprise costs such as centralised marketing costs, IT infrastructure related costs, shared support services, headquarter costs including finance and treasury, communication, legal and human resource related costs as well as certain warehousing and service fees. For internal reporting purposes these cost allocations are based on budgeted amounts and variances from budgeted amounts are presented under column \u201cGroup and allocations\u201d, and this can result in either incurred overruns or savings compared to budgeted amounts. These variances are not allocated to the segments for internal reporting purposes. \u2022 The Group and allocations column represents, in addition to the budget variances, certain unallocated headquarter costs. The reportable segments comprise the following: Wine The Wine segment develops, markets and sells Anora\u2019s own wine brands as well as partner wines to customers in the Nordic monopoly markets and Denmark. Wine segment in Denmark also include contract manufacturing and logistics services on behalf of other group companies. During 2023 the Group has initiated a Center of Excellence program in order to improve production efficiency, which mean that contract manufacturing for wine will be concentrated in Globus Wine in Denmark during the years to come. The change in operations did not have a material impact on net sales or profitability of individual segments in 2023. Spirits The Spirits segment develops, markets and sells Anora\u2019s own spirits brands and partner brands to customers in the Nordic monopoly markets, in addition to international markets as Estonia, Latvia, Denmark and Germany, in addition to global duty free and travel retail and other exports. Industrial The Industrial segment comprises Anora\u2019s industrial business \u2013 industrial products and contract manufacturing (mainly for the Spirits business but also to some extent for the Wine business), the logistics company Vectura and supply chain operations. 1 Jan\u201331 Dec 2022 EUR million Wine Spirits Industrial Group and allocations Eliminations Group Net sales external 309.7 233.0 160.0 0.0 0.0 702.7 Net sales internal 6.9 0.8 125.5 0.0 -133.2 0.0 Total Net sales 316.6 233.8 285.5 0.0 -133.2 702.7 Other operating revenues external 0.7 0.0 10.0 0.2 0.0 10.9 Other operating revenues internal 2.1 0.4 6.2 37.2 -45.9 -0.0 Total other operating revenues 2.8 0.4 16.2 37.4 -45.9 10.9 Materials and services -225.9 -131.8 -178.2 -0.3 121.9 -414.3 Gross Profit 93.5 102.4 123.5 37.1 -57.2 299.3 Employee benefits and other operating expenses -70.5 -66.6 -105.6 -45.9 57.1 -231.4 EBITDA 23.0 35.8 17.9 -8.8 -0.0 67.9 Items affecting comparability 1) 0.6 2.0 -0.2 5.9 0.0 8.3 Comparable EBITDA 23.5 37.8 17.7 -2.8 -0.0 76.1 EBITDA 67.9 Depreciation, amortisation and impairment -33.2 Operating profit 34.7 Industrial segment include production and/or logistics facilities in 5 main locations (Koskenkorva and Rajam\u00e4ki in Finland, Gjeller\u00e5sen in Norway, Sundsvall in Sweden and Tabasalu in Estonia). In addition there are two small aquavit distilleries in Atlungstad in Norway and Sk\u00e5ne in Sweden. Segment net sales and results All intragroup business transactions are made based on arm\u2019s length principles. The following tables set out the segment net sales and Comparable EBITDA as well as the reconciliation of the Comparable EBITDA to the Group\u2019s operating result: 1 Jan\u201331 Dec 2023 EUR million Wine Spirits Industrial Group and allocations Eliminations Group Net sales external 334.3 237.0 155.1 0.0 0.0 726.5 Net sales internal 0.0 0.0 114.3 0.0 -114.3 0.0 Total Net sales 334.3 237.0 269.5 0.0 -114.3 726.5 Other operating revenues external 0.0 0.0 8.0 12.3 0.0 20.3 Other operating revenues internal 0.0 0.0 15.6 26.1 -41.8 0.0 Total other operating revenues 0.0 0.0 23.6 38.4 -41.8 20.3 Materials and services -244.4 -137.3 -174.0 0.0 114.3 -441.4 Gross Profit 89.9 99.7 119.0 38.4 -41.8 305.4 Employee benefits and other operating expenses -82.6 -60.3 -104.0 -32.8 41.8 -237.9 EBITDA 7.3 39.5 15.1 5.6 0.0 67.5 Items affecting comparability 1) 5.0 0.8 2.4 -7.5 0.0 0.7 Comparable EBITDA 12.4 40.3 17.5 -1.9 0.0 68.2 EBITDA 67.5 Depreciation, amortisation and impairment -98.8 Operating profit -31.3 1) Items affecting comparability comprise of material items outside normal business, such as net gains or losses from business and assets disposals, impairment losses, cost for closure of business operations and restructurings, major corporate projects including direct transaction costs related to business acquisitions and the merger, merger related integration costs, expenses arising from the fair valuation of inventories in connection with merger, voluntary pension plan change, and costs related to other corporate development. Gains on sale of business operations, property, plant and equipment and intangible assets are presented in Note 1.3 and employee costs related to restructuring in Note 1.5 Other entity-wide disclosures Net sales by geography Net sales broken down by the segment and country for the years ended 31 December 2023 and 2022 were as follows: EUR million 2023 2022 Wine Finland 48.6 47.1 Sweden 115.9 134.7 Norway 78.4 83.7 Denmark 86.8 44.2 Other countries 4.6 0.0 Wine Total 334.3 309.7 Spirits Finland 62.4 56.3 Sweden 52.6 51.3 Norway 56.3 48.5 Denmark 20.0 18.5 Other countries 45.7 58.4 Spirits Total 237.0 233.0 Industrial Finland 120.7 127.1 Norway 27.0 27.3 Other countries 7.4 5.6 Industrial Total 155.1 160.0 TOTAL 726.5 702.7 Significant customer relationships The Group has significant customer relationships with Alko in Finland, with Vinmonopolet in Norway and Systembolaget in Sweden, related to sales from the Wine and Spirits segments. The total net sales from Alko were approximately EUR 91.6 million (2022: EUR 89.6 million). The total net sales from Vinmonopolet were EUR 107.4 million (2022: EUR 90.9 million). The total net sales from Systembolaget were around EUR 140.8 million (2022: EUR 151.5 million). In Industrial segment net sales of EUR 43.9 million (2022: EUR 45.7 million) were derived from a single external customer. No other single external customer represented 10 per cent or more of Anora\u2019s total net sales for the years ended 31 December 2023 or 2022. Non-current assets by geography The total of non-current assets other than financial instruments and deferred tax assets broken down by the location of the assets as at 31 December 2023 and 2022 were as follows: EUR million 2023 2022 Restated Finland 103.4 100.1 Sweden 43.1 40.9 Norway 339.9 438.6 Estonia 2.0 2.0 Latvia 0.6 0.4 Denmark 151.1 157.4 Other countries 1.0 10.7 TOTAL 641.1 750.1 Comparison figures from 2022 has been changed as the presented specification in the 2022 report included a computational calculation error (Norway EUR 53.9 million, Denmark EUR -41.7 million, Sweden EUR -8.1 million, Finland EUR -3.3 million and other countries EUR 2.8 million). The error has had no impact on reported balance sheet figures",
"dimensions": {
"concept": "ifrs-full:DisclosureOfEntitysReportableSegmentsExplanatory",
"language": "en",
"entity": "scheme:52990007AXNSS4PNX352",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"fact-342": {
"value": "1.1 SEGMENT INFORMATION Description of segments and principal activities The reportable segments of Anora in these consolidated financial statements consist of Wine, Spirits, and Industrial. The Board of Directors of Anora is determined as the Group\u2019s Chief Operative Decision Maker (CODM) being responsible for allocating resources, deciding on strategy and assessing performance of the operating segments. The reportable segments are based on Anora\u2019s operating structure and internal reporting to the CODM and used to assess the performance of the segments. For internal reporting purposes, reporting on the segment profit is based on internal measures of gross profit and comparable EBITDA derived as follows: \u2022 Net sales and direct segment expenses including costs of goods sold reported within the Gross Profit and Comparable EBITDA segment profit measures are measured and reported under the same accounting principles as in the consolidated accounts. \u2022 Expenses allocated to the segments related to shared function costs or business support services, comprise costs such as centralised marketing costs, IT infrastructure related costs, shared support services, headquarter costs including finance and treasury, communication, legal and human resource related costs as well as certain warehousing and service fees. For internal reporting purposes these cost allocations are based on budgeted amounts and variances from budgeted amounts are presented under column \u201cGroup and allocations\u201d, and this can result in either incurred overruns or savings compared to budgeted amounts. These variances are not allocated to the segments for internal reporting purposes. \u2022 The Group and allocations column represents, in addition to the budget variances, certain unallocated headquarter costs.The reportable segments comprise the following:
Wine
The Wine segment develops, markets and sells Anora\u2019s own wine
brands as well as partner wines to customers in the Nordic monopoly
markets and Denmark. Wine segment in Denmark also include
contract manufacturing and logistics services on behalf of other group
companies. During 2023 the Group has initiated a Center of Excellence
program in order to improve production efficiency, which mean that
contract manufacturing for wine will be concentrated in Globus Wine
in Denmark during the years to come. The change in operations did
not have a material impact on net sales or profitability of individual
segments in 2023.
Spirits
The Spirits segment develops, markets and sells Anora\u2019s own spirits
brands and partner brands to customers in the Nordic monopoly
markets, in addition to international markets as Estonia, Latvia,
Denmark and Germany, in addition to global duty free and travel
retail and other exports.
Industrial
The Industrial segment comprises Anora\u2019s industrial business
\u2013 industrial products and contract manufacturing (mainly for
the Spirits business but also to some extent for the Wine business),
the logistics company Vectura and supply chain operations.
1 Jan\u201331 Dec 2022
EUR million Wine Spirits Industrial
Group and
allocations Eliminations Group
Net sales external 309.7 233.0 160.0 0.0 0.0 702.7
Net sales internal 6.9 0.8 125.5 0.0 -133.2 0.0
Total Net sales 316.6 233.8 285.5 0.0 -133.2 702.7
Other operating revenues external 0.7 0.0 10.0 0.2 0.0 10.9
Other operating revenues internal 2.1 0.4 6.2 37.2 -45.9 -0.0
Total other operating revenues 2.8 0.4 16.2 37.4 -45.9 10.9
Materials and services -225.9 -131.8 -178.2 -0.3 121.9 -414.3
Gross Profit 93.5 102.4 123.5 37.1 -57.2 299.3
Employee benefits and other operating expenses -70.5 -66.6 -105.6 -45.9 57.1 -231.4
EBITDA 23.0 35.8 17.9 -8.8 -0.0 67.9
Items affecting comparability
1)
0.6 2.0 -0.2 5.9 0.0 8.3
Comparable EBITDA 23.5 37.8 17.7 -2.8 -0.0 76.1
EBITDA 67.9
Depreciation, amortisation and impairment -33.2
Operating profit 34.7
Industrial segment include production and/or logistics facilities in 5
main locations (Koskenkorva and Rajam\u00e4ki in Finland, Gjeller\u00e5sen
in Norway, Sundsvall in Sweden and Tabasalu in Estonia). In
addition there are two small aquavit distilleries in Atlungstad in
Norway and Sk\u00e5ne in Sweden.
Segment net sales and results
All intragroup business transactions are made based on arm\u2019s length
principles. The following tables set out the segment net sales and
Comparable EBITDA as well as the reconciliation of the Comparable
EBITDA to the Group\u2019s operating result:
1 Jan\u201331 Dec 2023
EUR million Wine Spirits Industrial
Group and
allocations Eliminations Group
Net sales external 334.3 237.0 155.1 0.0 0.0 726.5
Net sales internal 0.0 0.0 114.3 0.0 -114.3 0.0
Total Net sales 334.3 237.0 269.5 0.0 -114.3 726.5
Other operating revenues external 0.0 0.0 8.0 12.3 0.0 20.3
Other operating revenues internal 0.0 0.0 15.6 26.1 -41.8 0.0
Total other operating revenues 0.0 0.0 23.6 38.4 -41.8 20.3
Materials and services -244.4 -137.3 -174.0 0.0 114.3 -441.4
Gross Profit 89.9 99.7 119.0 38.4 -41.8 305.4
Employee benefits and other operating expenses -82.6 -60.3 -104.0 -32.8 41.8 -237.9
EBITDA 7.3 39.5 15.1 5.6 0.0 67.5
Items affecting comparability
1)
5.0 0.8 2.4 -7.5 0.0 0.7
Comparable EBITDA 12.4 40.3 17.5 -1.9 0.0 68.2
EBITDA 67.5
Depreciation, amortisation and impairment -98.8
Operating profit -31.3
1)
Items affecting comparability comprise of material items outside normal business, such as net gains or losses from business and assets disposals, impairment losses, cost for closure of business operations and restructurings, major corporate projects including direct transaction costs related to business acquisitions
and the merger, merger related integration costs, expenses arising from the fair valuation of inventories in connection with merger, voluntary pension plan change, and costs related to other corporate development. Gains on sale of business operations, property, plant and equipment and intangible assets are presented
in Note 1.3 and employee costs related to restructuring in Note 1.5 .
Other entity-wide disclosures Net sales by geography Net sales broken down by the segment and country for the years ended 31 December 2023 and 2022 were as follows: EUR million 2023 2022 Wine Finland 48.6 47.1 Sweden 115.9 134.7 Norway 78.4 83.7 Denmark 86.8 44.2 Other countries 4.6 0.0 Wine Total 334.3 309.7 Spirits Finland 62.4 56.3 Sweden 52.6 51.3 Norway 56.3 48.5 Denmark 20.0 18.5 Other countries 45.7 58.4 Spirits Total 237.0 233.0 Industrial Finland 120.7 127.1 Norway 27.0 27.3 Other countries 7.4 5.6 Industrial Total 155.1 160.0 TOTAL 726.5 702.7 Significant customer relationships The Group has significant customer relationships with Alko in Finland, with Vinmonopolet in Norway and Systembolaget in Sweden, related to sales from the Wine and Spirits segments. The total net sales from Alko were approximately EUR 91.6 million (2022: EUR 89.6 million). The total net sales from Vinmonopolet were EUR 107.4 million (2022: EUR 90.9 million). The total net sales from Systembolaget were around EUR 140.8 million (2022: EUR 151.5 million). In Industrial segment net sales of EUR 43.9 million (2022: EUR 45.7 million) were derived from a single external customer. No other single external customer represented 10 per cent or more of Anora\u2019s total net sales for the years ended 31 December 2023 or 2022. Non-current assets by geography The total of non-current assets other than financial instruments and deferred tax assets broken down by the location of the assets as at 31 December 2023 and 2022 were as follows: EUR million 2023 2022 Restated Finland 103.4 100.1 Sweden 43.1 40.9 Norway 339.9 438.6 Estonia 2.0 2.0 Latvia 0.6 0.4 Denmark 151.1 157.4 Other countries 1.0 10.7 TOTAL 641.1 750.1 Comparison figures from 2022 has been changed as the presented specification in the 2022 report included a computational calculation error (Norway EUR 53.9 million, Denmark EUR -41.7 million, Sweden EUR -8.1 million, Finland EUR -3.3 million and other countries EUR 2.8 million). The error has had no impact on reported balance sheet figures. 1.2 REVENUES FROM OPERATIONS Revenue recognition The revenue is recognised at an amount of consideration to which the Group expects to be entitled in exchange for transferring promised goods or services to a customer. The transaction price may include variable considerations such as volume discounts, bonuses, marketing support, product returns etc. The variable considerations are estimated using the most likely value method if not yet realised in the end of reporting period. The revenue is further adjusted with indirect sales taxes, excise taxes, deposit and recycling fees. The wine and spirits businesses generally only sell physical products in the form of wine and spirits products. Sale of these products are accounted for in the Group\u2019s income statement at the point in time when they are delivered to the Group\u2019s customers according to the delivery terms. In contract services the contracts essentially include a single performance obligation, being a series of distinct services such as contract manufacturing, customer services and logistics. The revenue recognition occurs at a point in time, when the control of the goods is transferred to the customer according to the delivery terms. Revenue from the sale of services is recognised at the time of delivery of services, which in most cases correspond with delivery of the goods manufactured or goods distributed being delivered to the customers according to the delivery terms. This include the Logistics business, as this business is acting as an agent on behalf of its business partners, and therefore the logistics services are considered completed at the time of the goods being delivered to the customers according to delivery terms. The revenue from activity-based services at logistics business, such as rent for storage of pallets, reconstruction of pallets from larger EUR pallets to smaller quarter pallets, destruction services, etc, is recognised over time. Input for these services is based on actual pallet places of storage being used during the period, actual number of pallets being reconstructed during a period or actual volume being destructed during a period. Primarily accounts receivable fall due 0\u201360 days after invoicing date. Transaction prices do not include any significant financing components The most significant revenue flows are generated by the sale of own products and partner brands to Scandinavian wine and spirit monopolies, Horeca customers, wholesalers and travel retail customers. In addition, revenues are generated by contract manufacturing, sale of logistic services and the sale of industrial products, such as starch, feed and technical ethanol. In partner supplier agreements, which entitle Group to distribute partners\u2019 products, Anora acts as a principal towards the end customer having control over the product, discretion in establishing prices and owning the inventory. Accordingly, revenue recognised is the gross amount to which Anora is entitled to in these product sales. The other activity based operating revenues from warehousing services at logistics business, is recognised over time. Critical estimates and management judgement - Revenue recognition Anora provides volume-based rebates, bonuses and other discounts to their customers in open markets and on-trade customers in the monopoly markets. These classify as variable considerations within contracts with customers. The group estimates such variable consideration to which it will be entitled in exchange for transferring goods to the customers. The variable consideration is estimated at a contract inception based on expected sales volumes using historical and year- to-date sales data and other information about trading with individual customers or groups of customers. The Group estimates discounts, rebates and bonuses using the most likely amount method. Contracts assets and liabilities Contract assets represent the amount which Anora has right to receive goods expected to be returned to inventory with respect to return clauses in the contracts. Contract assets are measured at the former carrying amount of the inventory less any expected costs to recover the goods and less any impairment losses. Contract liabilities represent the amount received or receivable that is expected to be returned as a refund liability. These contracts assets or liabilities are very limited in the Group and are included in other receivables or other payables in the Group\u2019s balance sheet. Excise taxes related to sales The amount of excise tax deducted from sales revenue is significant. The amounts of sales including tax and excise taxes are presented below: EUR million 2023 2022Restated Sales revenues deducted with revenue adjustments 1,403.2 1,372.4 Excise tax -676.8 -669.7 Net sales 726.5 702.7 Tax share of sales revenues, % 48.2% 48.8 % Excise tax amount in 2022 financial statements was included in an incorrect amount due to a computational calculation error (Previously disclosed Sales revenues deducted with revenue adjustments and Excise taxes were both higher by EUR 334.5 million, while net sales are unchanged). The error has been corrected in the comparable figures for 2022 in this report and did not have any impact on net sales or taxes paid, neither in presented figures in income statement, balance sheet or cash flows. Net Sales by revenue types EUR million 2023 2022 Wines 334,3 309,7 Spirits 237,0 233,0 Industrial Products 71,3 75,3 Total sale of products 642,6 618,0 Contract manufacturing services 60,2 61,0 Logistics services 23,7 23,8 Total sale of services 83,9 84,8 Net sales 726,5 702,7 1.3 OTHER OPERATING INCOME Other operating income mainly includes gains on the disposal of non-current assets, income from sale of energy, water, steam and carbon dioxide, gains on sale of emission allowances, rental income and related non-core business service income and contract termination fees. Gains on sale of subsidiaries and business operations relates to sale of Larsen cognac business and is in its full part of Group and Allocations figures. EUR million 2023 2022 Gains on sale of subsidiaries and business operations 11.6 - Gains on sale of property, plant and equipment and intangible assets 0.8 0.9 Gains on sale of emission allowances 0.1 1.2 Rental income 1.4 1.4 Income from sale of energy, water, steam and carbon dioxide 4.0 4.2 Insurance compensations - 1.1 Other income 2.3 2.2 TOTAL 20.3 10.9 1.4 MATERIALS AND SERVICES Materials and services consist of cost of material, such as barley, wine, different spirit, liquids, ground water as well as other ingredients needed for a variety of different drinks, packaging materials, production costs, changes in inventories, scrapping and obsolescence costs and external services such as logistics and warehousing. EUR million 2023 2022 Raw materials, consumables and goods Cost of goods sold -428.1 -407.5 Scrapping and obsolescence and revaluation -3.8 -4.0 External services -9.5 -2.9 TOTAL -441.4 -414.3 1.5 EMPLOYEE BENEFIT EXPENSES In Anora, the total wages and salaries of personnel consists of fixed and variable pay, allowances, short and long-term incentives and fringe benefits. EUR million 2023 2022 Wages and salaries -83.0 -74.0 Pension expenses Defined contributions plans -10.5 -9.0 Defined benefit plans -0.1 0.0 Share-based payments -0.0 -0.6 Other social expenses -10.2 -10.1 TOTAL -103.8 -93.8 Employee benefit expenses include personnel related restructuring costs of EUR 4.9 million (2022: EUR 0.1 million). The EUR 4.9 million restructuring costs is split EUR 0.7 million to Wines, EUR 0.9 million to Spirits, EUR 2.4 million to Industrial and EUR 0.9 million in Group and Allocations. Average number of personnel during the period 2023 2022 Workers 542 538 Clerical employees 731 621 TOTAL 1,273 1,159 More information on the Group\u2019s pension plans is presented in Note 2.6. Information of management remuneration is presented in Note 6.3 related party transactions . 1.6 OTHER OPERATING EXPENSES EUR million 2023 2022 Losses on sales and disposals of property, plant and equipment and intangible assets -0.2 -0.2 Short term, low value and other lease related payments -6.6 -4.7 Marketing expenses -28.0 -29.9 Travel and representation expenses -3.9 -5.2 Outsourcing services -27.3 -35.5 Repair and maintenance expenses -14.0 -14.8 Cars and transport services -7.9 -0.5 Energy expenses -11.8 -9.8 IT expenses -10.1 -12.0 Variable sales expenses -14.8 -16.0 Other expenses -9.4 -9.1 Total -134.1 -137.6 Auditor\u2019s fees included in other operating expenses, EUR million 2023 2022 Audit fees -1.2 -1.2 Tax consulatation 0.0 0.0 Other fees -0.1 -0.3 Total -1.4 -1.4 The table above presents fees to Group auditor PricewaterhouseCoopers as well as other auditors of Group subsidiaries during the year. 1.7 RESEARCH AND DEVELOPMENT EXPENDITURES Operating result includes research and development expenditures amounting to EUR 2.3 million (2022: EUR 2.2 million). The R&D expenditures represents 0.3 % of net sales in 2023 (2022: 0.3%) .",
"dimensions": {
"concept": "ifrs-full:DisclosureOfProfitLossFromOperatingActivitiesExplanatory",
"language": "en",
"entity": "scheme:52990007AXNSS4PNX352",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"fact-343": {
"value": "For internal reporting purposes, reporting on the segment profit is based on internal measures of gross profit and comparable EBITDA derived as follows: \u2022 Net sales and direct segment expenses including costs of goods sold reported within the Gross Profit and Comparable EBITDA segment profit measures are measured and reported under the same accounting principles as in the consolidated accounts. \u2022 Expenses allocated to the segments related to shared function costs or business support services, comprise costs such as centralised marketing costs, IT infrastructure related costs, shared support services, headquarter costs including finance and treasury, communication, legal and human resource related costs as well as certain warehousing and service fees. For internal reporting purposes these cost allocations are based on budgeted amounts and variances from budgeted amounts are presented under column \u201cGroup and allocations\u201d, and this can result in either incurred overruns or savings compared to budgeted amounts. These variances are not allocated to the segments for internal reporting purposes. \u2022 The Group and allocations column represents, in addition to the budget variances, certain unallocated headquarter costs.",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForSegmentReportingExplanatory",
"language": "en",
"entity": "scheme:52990007AXNSS4PNX352",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"fact-344": {
"value": "Net sales by geography Net sales broken down by the segment and country for the years ended 31 December 2023 and 2022 were as follows: EUR million 2023 2022 Wine Finland 48.6 47.1 Sweden 115.9 134.7 Norway 78.4 83.7 Denmark 86.8 44.2 Other countries 4.6 0.0 Wine Total 334.3 309.7 Spirits Finland 62.4 56.3 Sweden 52.6 51.3 Norway 56.3 48.5 Denmark 20.0 18.5 Other countries 45.7 58.4 Spirits Total 237.0 233.0 Industrial Finland 120.7 127.1 Norway 27.0 27.3 Other countries 7.4 5.6 Industrial Total 155.1 160.0 TOTAL 726.5 702.7 Non-current assets by geography The total of non-current assets other than financial instruments and deferred tax assets broken down by the location of the assets as at 31 December 2023 and 2022 were as follows: EUR million 2023 2022 Restated Finland 103.4 100.1 Sweden 43.1 40.9 Norway 339.9 438.6 Estonia 2.0 2.0 Latvia 0.6 0.4 Denmark 151.1 157.4 Other countries 1.0 10.7 TOTAL 641.1 750.1 Comparison figures from 2022 has been changed as the presented specification in the 2022 report included a computational calculation error (Norway EUR 53.9 million, Denmark EUR -41.7 million, Sweden EUR -8.1 million, Finland EUR -3.3 million and other countries EUR 2.8 million). The error has had no impact on reported balance sheet figures. ",
"dimensions": {
"concept": "ifrs-full:DisclosureOfGeographicalAreasExplanatory",
"language": "en",
"entity": "scheme:52990007AXNSS4PNX352",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"fact-345": {
"value": "Net sales by geography Net sales broken down by the segment and country for the years ended 31 December 2023 and 2022 were as follows: EUR million 2023 2022 Wine Finland 48.6 47.1 Sweden 115.9 134.7 Norway 78.4 83.7 Denmark 86.8 44.2 Other countries 4.6 0.0 Wine Total 334.3 309.7 Spirits Finland 62.4 56.3 Sweden 52.6 51.3 Norway 56.3 48.5 Denmark 20.0 18.5 Other countries 45.7 58.4 Spirits Total 237.0 233.0 Industrial Finland 120.7 127.1 Norway 27.0 27.3 Other countries 7.4 5.6 Industrial Total 155.1 160.0 TOTAL 726.5 702.7 Net Sales by revenue types EUR million 2023 2022 Wines 334,3 309,7 Spirits 237,0 233,0 Industrial Products 71,3 75,3 Total sale of products 642,6 618,0 Contract manufacturing services 60,2 61,0 Logistics services 23,7 23,8 Total sale of services 83,9 84,8 Net sales 726,5 702,7 ",
"dimensions": {
"concept": "ifrs-full:DisclosureOfRevenueExplanatory",
"language": "en",
"entity": "scheme:52990007AXNSS4PNX352",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"fact-346": {
"value": "Significant customer relationships The Group has significant customer relationships with Alko in Finland, with Vinmonopolet in Norway and Systembolaget in Sweden, related to sales from the Wine and Spirits segments. The total net sales from Alko were approximately EUR 91.6 million (2022: EUR 89.6 million). The total net sales from Vinmonopolet were EUR 107.4 million (2022: EUR 90.9 million). The total net sales from Systembolaget were around EUR 140.8 million (2022: EUR 151.5 million). In Industrial segment net sales of EUR 43.9 million (2022: EUR 45.7 million) were derived from a single external customer. No other single external customer represented 10 per cent or more of Anora\u2019s total net sales for the years ended 31 December 2023 or 2022",
"dimensions": {
"concept": "ifrs-full:InformationAboutMajorCustomers",
"language": "en",
"entity": "scheme:52990007AXNSS4PNX352",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"fact-347": {
"value": "1.2 REVENUES FROM OPERATIONS Revenue recognition The revenue is recognised at an amount of consideration to which the Group expects to be entitled in exchange for transferring promised goods or services to a customer. The transaction price may include variable considerations such as volume discounts, bonuses, marketing support, product returns etc. The variable considerations are estimated using the most likely value method if not yet realised in the end of reporting period. The revenue is further adjusted with indirect sales taxes, excise taxes, deposit and recycling fees. The wine and spirits businesses generally only sell physical products in the form of wine and spirits products. Sale of these products are accounted for in the Group\u2019s income statement at the point in time when they are delivered to the Group\u2019s customers according to the delivery terms. In contract services the contracts essentially include a single performance obligation, being a series of distinct services such as contract manufacturing, customer services and logistics. The revenue recognition occurs at a point in time, when the control of the goods is transferred to the customer according to the delivery terms. Revenue from the sale of services is recognised at the time of delivery of services, which in most cases correspond with delivery of the goods manufactured or goods distributed being delivered to the customers according to the delivery terms. This include the Logistics business, as this business is acting as an agent on behalf of its business partners, and therefore the logistics services are considered completed at the time of the goods being delivered to the customers according to delivery terms. The revenue from activity-based services at logistics business, such as rent for storage of pallets, reconstruction of pallets from larger EUR pallets to smaller quarter pallets, destruction services, etc, is recognised over time. Input for these services is based on actual pallet places of storage being used during the period, actual number of pallets being reconstructed during a period or actual volume being destructed during a period. Primarily accounts receivable fall due 0\u201360 days after invoicing date. Transaction prices do not include any significant financing components . The most significant revenue flows are generated by the sale of own products and partner brands to Scandinavian wine and spirit monopolies, Horeca customers, wholesalers and travel retail customers. In addition, revenues are generated by contract manufacturing, sale of logistic services and the sale of industrial products, such as starch, feed and technical ethanol. In partner supplier agreements, which entitle Group to distribute partners\u2019 products, Anora acts as a principal towards the end customer having control over the product, discretion in establishing prices and owning the inventory. Accordingly, revenue recognised is the gross amount to which Anora is entitled to in these product sales. The other activity based operating revenues from warehousing services at logistics business, is recognised over time. Critical estimates and management judgement - Revenue recognition Anora provides volume-based rebates, bonuses and other discounts to their customers in open markets and on-trade customers in the monopoly markets. These classify as variable considerations within contracts with customers. The group estimates such variable consideration to which it will be entitled in exchange for transferring goods to the customers. The variable consideration is estimated at a contract inception based on expected sales volumes using historical and year- to-date sales data and other information about trading with individual customers or groups of customers. The Group estimates discounts, rebates and bonuses using the most likely amount method. Contracts assets and liabilities Contract assets represent the amount which Anora has right to receive goods expected to be returned to inventory with respect to return clauses in the contracts. Contract assets are measured at the former carrying amount of the inventory less any expected costs to recover the goods and less any impairment losses. Contract liabilities represent the amount received or receivable that is expected to be returned as a refund liability. These contracts assets or liabilities are very limited in the Group and are included in other receivables or other payables in the Group\u2019s balance sheet. Excise taxes related to sales The amount of excise tax deducted from sales revenue is significant. The amounts of sales including tax and excise taxes are presented below: EUR million 2023 2022Restated Sales revenues deducted with revenue adjustments 1,403.2 1,372.4 Excise tax -676.8 -669.7 Net sales 726.5 702.7 Tax share of sales revenues, % 48.2% 48.8 % ",
"dimensions": {
"concept": "ifrs-full:DisclosureOfRevenueFromContractsWithCustomersExplanatory",
"language": "en",
"entity": "scheme:52990007AXNSS4PNX352",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"fact-348": {
"value": "Revenue recognition The revenue is recognised at an amount of consideration to which the Group expects to be entitled in exchange for transferring promised goods or services to a customer. The transaction price may include variable considerations such as volume discounts, bonuses, marketing support, product returns etc. The variable considerations are estimated using the most likely value method if not yet realised in the end of reporting period. The revenue is further adjusted with indirect sales taxes, excise taxes, deposit and recycling fees. The wine and spirits businesses generally only sell physical products in the form of wine and spirits products. Sale of these products are accounted for in the Group\u2019s income statement at the point in time when they are delivered to the Group\u2019s customers according to the delivery terms. In contract services the contracts essentially include a single performance obligation, being a series of distinct services such as contract manufacturing, customer services and logistics. The revenue recognition occurs at a point in time, when the control of the goods is transferred to the customer according to the delivery terms. Revenue from the sale of services is recognised at the time of delivery of services, which in most cases correspond with delivery of the goods manufactured or goods distributed being delivered to the customers according to the delivery terms. This include the Logistics business, as this business is acting as an agent on behalf of its business partners, and therefore the logistics services are considered completed at the time of the goods being delivered to the customers according to delivery terms. The revenue from activity-based services at logistics business, such as rent for storage of pallets, reconstruction of pallets from larger EUR pallets to smaller quarter pallets, destruction services, etc, is recognised over time. Input for these services is based on actual pallet places of storage being used during the period, actual number of pallets being reconstructed during a period or actual volume being destructed during a period. Primarily accounts receivable fall due 0\u201360 days after invoicing date. Transaction prices do not include any significant financing components . The most significant revenue flows are generated by the sale of own products and partner brands to Scandinavian wine and spirit monopolies, Horeca customers, wholesalers and travel retail customers. In addition, revenues are generated by contract manufacturing, sale of logistic services and the sale of industrial products, such as starch, feed and technical ethanol. In partner supplier agreements, which entitle Group to distribute partners\u2019 products, Anora acts as a principal towards the end customer having control over the product, discretion in establishing prices and owning the inventory. Accordingly, revenue recognised is the gross amount to which Anora is entitled to in these product sales. The other activity based operating revenues from warehousing services at logistics business, is recognised over time. Critical estimates and management judgement - Revenue recognition Anora provides volume-based rebates, bonuses and other discounts to their customers in open markets and on-trade customers in the monopoly markets. These classify as variable considerations within contracts with customers. The group estimates such variable consideration to which it will be entitled in exchange for transferring goods to the customers. The variable consideration is estimated at a contract inception based on expected sales volumes using historical and year- to-date sales data and other information about trading with individual customers or groups of customers. The Group estimates discounts, rebates and bonuses using the most likely amount method. Contracts assets and liabilities Contract assets represent the amount which Anora has right to receive goods expected to be returned to inventory with respect to return clauses in the contracts. Contract assets are measured at the former carrying amount of the inventory less any expected costs to recover the goods and less any impairment losses. Contract liabilities represent the amount received or receivable that is expected to be returned as a refund liability. These contracts assets or liabilities are very limited in the Group and are included in other receivables or other payables in the Group\u2019s balance sheet. Excise taxes related to sales The amount of excise tax deducted from sales revenue is significant. The amounts of sales including tax and excise taxes are presented below: EUR million 2023 2022Restated Sales revenues deducted with revenue adjustments 1,403.2 1,372.4 Excise tax -676.8 -669.7 Net sales 726.5 702.7 Tax share of sales revenues, % 48.2% 48.8 % ",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForRecognitionOfRevenue",
"language": "en",
"entity": "scheme:52990007AXNSS4PNX352",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"fact-349": {
"value": "Anora provides volume-based rebates, bonuses and other discounts to their customers in open markets and on-trade customers in the monopoly markets. These classify as variable considerations within contracts with customers. The group estimates such variable consideration to which it will be entitled in exchange for transferring goods to the customers. The variable consideration is estimated at a contract inception based on expected sales volumes using historical and year- to-date sales data and other information about trading with individual customers or groups of customers. The Group estimates discounts, rebates and bonuses using the most likely amount method. ",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForDiscountsAndRebatesExplanatory",
"language": "en",
"entity": "scheme:52990007AXNSS4PNX352",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"fact-350": {
"value": "1.3 OTHER OPERATING INCOME Other operating income mainly includes gains on the disposal of non-current assets, income from sale of energy, water, steam and carbon dioxide, gains on sale of emission allowances, rental income and related non-core business service income and contract termination fees. Gains on sale of subsidiaries and business operations relates to sale of Larsen cognac business and is in its full part of Group and Allocations figures. EUR million 2023 2022 Gains on sale of subsidiaries and business operations 11.6 - Gains on sale of property, plant and equipment and intangible assets 0.8 0.9 Gains on sale of emission allowances 0.1 1.2 Rental income 1.4 1.4 Income from sale of energy, water, steam and carbon dioxide 4.0 4.2 Insurance compensations - 1.1 Other income 2.3 2.2 TOTAL 20.3 10.9 ",
"dimensions": {
"concept": "ifrs-full:DisclosureOfOtherOperatingIncomeExplanatory",
"language": "en",
"entity": "scheme:52990007AXNSS4PNX352",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"fact-351": {
"value": "1.3 OTHER OPERATING INCOME Other operating income mainly includes gains on the disposal of non-current assets, income from sale of energy, water, steam and carbon dioxide, gains on sale of emission allowances, rental income and related non-core business service income and contract termination fees. Gains on sale of subsidiaries and business operations relates to sale of Larsen cognac business and is in its full part of Group and Allocations figures. EUR million 2023 2022 Gains on sale of subsidiaries and business operations 11.6 - Gains on sale of property, plant and equipment and intangible assets 0.8 0.9 Gains on sale of emission allowances 0.1 1.2 Rental income 1.4 1.4 Income from sale of energy, water, steam and carbon dioxide 4.0 4.2 Insurance compensations - 1.1 Other income 2.3 2.2 TOTAL 20.3 10.9 ",
"dimensions": {
"concept": "ifrs-full:DisclosureOfOtherOperatingIncomeExpenseExplanatory",
"language": "en",
"entity": "scheme:52990007AXNSS4PNX352",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"fact-352": {
"value": "1.4 MATERIALS AND SERVICES
Materials and services consist of cost of material, such as barley,
wine, different spirit, liquids, ground water as well as other
ingredients needed for a variety of different drinks, packaging
materials, production costs, changes in inventories, scrapping
and obsolescence costs and external services such as logistics and
warehousing.
EUR million 2023 2022
Raw materials, consumables and goods
Cost of goods sold -428.1 -407.5
Scrapping and obsolescence and revaluation -3.8 -4.0
External services -9.5 -2.9
TOTAL -441.4 -414.3
1.5 EMPLOYEE BENEFIT EXPENSES
In Anora, the total wages and salaries of personnel consists of fixed
and variable pay, allowances, short and long-term incentives and
fringe benefits.
EUR million 2023 2022
Wages and salaries -83.0 -74.0
Pension expenses
Defined contributions plans -10.5 -9.0
Defined benefit plans -0.1 0.0
Share-based payments -0.0 -0.6
Other social expenses -10.2 -10.1
TOTAL -103.8 -93.8
Employee benefit expenses include personnel related restructuring
costs of EUR 4.9 million (2022: EUR 0.1 million). The EUR 4.9
million restructuring costs is split EUR 0.7 million to Wines, EUR
0.9 million to Spirits, EUR 2.4 million to Industrial and EUR 0.9
million in Group and Allocations.
Average number of personnel during the period 2023 2022
Workers 542 538
Clerical employees 731 621
TOTAL 1,273 1,159
More information on the Group\u2019s pension plans is presented in
Note 2.6.
Information of management remuneration is presented in
Note 6.3 related party transactions .
1.6 OTHER OPERATING EXPENSES
EUR million 2023 2022
Losses on sales and disposals of property, plant
and equipment and intangible assets -0.2 -0.2
Short term, low value and other lease related
payments -6.6 -4.7
Marketing expenses -28.0 -29.9
Travel and representation expenses -3.9 -5.2
Outsourcing services -27.3 -35.5
Repair and maintenance expenses -14.0 -14.8
Cars and transport services -7.9 -0.5
Energy expenses -11.8 -9.8
IT expenses -10.1 -12.0
Variable sales expenses -14.8 -16.0
Other expenses -9.4 -9.1
Total -134.1 -137.6
Auditor\u2019s fees included in other operating
expenses, EUR million 2023 2022
Audit fees -1.2 -1.2
Tax consulatation 0.0 0.0
Other fees -0.1 -0.3
Total -1.4 -1.4
The table above presents fees to Group auditor
PricewaterhouseCoopers as well as other auditors of Group
subsidiaries during the year.
1.7 RESEARCH AND DEVELOPMENT
EXPENDITURES
Operating result includes research and development expenditures
amounting to EUR 2.3 million (2022: EUR 2.2 million). The R&D
expenditures represents 0.3 % of net sales in 2023 (2022: 0.3%) .
",
"dimensions": {
"concept": "ifrs-full:DisclosureOfExpensesExplanatory",
"language": "en",
"entity": "scheme:52990007AXNSS4PNX352",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"fact-353": {
"value": "1.4 MATERIALS AND SERVICES Materials and services consist of cost of material, such as barley, wine, different spirit, liquids, ground water as well as other ingredients needed for a variety of different drinks, packaging materials, production costs, changes in inventories, scrapping and obsolescence costs and external services such as logistics and warehousing. EUR million 2023 2022 Raw materials, consumables and goods Cost of goods sold -428.1 -407.5 Scrapping and obsolescence and revaluation -3.8 -4.0 External services -9.5 -2.9 TOTAL -441.4 -414.3 ",
"dimensions": {
"concept": "ifrs-full:DisclosureOfCostOfSalesExplanatory",
"language": "en",
"entity": "scheme:52990007AXNSS4PNX352",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"fact-354": {
"value": "1.5 EMPLOYEE BENEFIT EXPENSES In Anora, the total wages and salaries of personnel consists of fixed and variable pay, allowances, short and long-term incentives and fringe benefits. EUR million 2023 2022 Wages and salaries -83.0 -74.0 Pension expenses Defined contributions plans -10.5 -9.0 Defined benefit plans -0.1 0.0 Share-based payments -0.0 -0.6 Other social expenses -10.2 -10.1 TOTAL -103.8 -93.8 Employee benefit expenses include personnel related restructuring costs of EUR 4.9 million (2022: EUR 0.1 million). The EUR 4.9 million restructuring costs is split EUR 0.7 million to Wines, EUR 0.9 million to Spirits, EUR 2.4 million to Industrial and EUR 0.9 million in Group and Allocations. Average number of personnel during the period 2023 2022 Workers 542 538 Clerical employees 731 621 TOTAL 1,273 1,159 More information on the Group\u2019s pension plans is presented in Note 2.6. Information of management remuneration is presented in Note 6.3 related party transactions 2.6 EMPLOYEE BENEFIT OBLIGATIONS Group\u2019s pension arrangements The Group operates various pension plans in accordance with local conditions and practices in different countries. In the Finnish, Norwegian, Swedish, Danish and German companies, statutory pension obligations are arranged through pension insurance companies, when the plans are defined contribution plans and they are managed in accordance with local legislation and established practice. Gift pension and unfunded pension arrangements In addition to the defined contribution plans, the Group has a few gift pensions and other unfunded defined benefit plans for some of the employees in Norway. On the transition to the defined contribution plan in Norway, there were individuals who would be disadvantaged in the event of early retirement at 65\u201367 years of age. To compensate for this, it was agreed to that a gift pension would be paid to all employees who were affected. As at 31.12.2023, this pension is linked to 70 active employees and 15 retired former employees. In the actuarial calculated defined benefit pension plans, the amount of the pension benefit at retirement is calculated based on salary, years of service and life expectancy. The Norwegian pension plans cover only few employees, thus the related pension liabilities are not material for the Group. At the end of the reporting period 2023 the total actuarial calculated defined benefit plan obligations amounted to EUR 2.4 million (2022: EUR 2.7 million).",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForEmployeeBenefitsExplanatory",
"language": "en",
"entity": "scheme:52990007AXNSS4PNX352",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"fact-355": {
"value": "1.5 EMPLOYEE BENEFIT EXPENSES In Anora, the total wages and salaries of personnel consists of fixed and variable pay, allowances, short and long-term incentives and fringe benefits. EUR million 2023 2022 Wages and salaries -83.0 -74.0 Pension expenses Defined contributions plans -10.5 -9.0 Defined benefit plans -0.1 0.0 Share-based payments -0.0 -0.6 Other social expenses -10.2 -10.1 TOTAL -103.8 -93.8 Employee benefit expenses include personnel related restructuring costs of EUR 4.9 million (2022: EUR 0.1 million). The EUR 4.9 million restructuring costs is split EUR 0.7 million to Wines, EUR 0.9 million to Spirits, EUR 2.4 million to Industrial and EUR 0.9 million in Group and Allocations. Average number of personnel during the period 2023 2022 Workers 542 538 Clerical employees 731 621 TOTAL 1,273 1,159 More information on the Group\u2019s pension plans is presented in Note 2.6. Information of management remuneration is presented in Note 6.3 related party transactions . 2.6 EMPLOYEE BENEFIT OBLIGATIONS Group\u2019s pension arrangements The Group operates various pension plans in accordance with local conditions and practices in different countries. In the Finnish, Norwegian, Swedish, Danish and German companies, statutory pension obligations are arranged through pension insurance companies, when the plans are defined contribution plans and they are managed in accordance with local legislation and established practice. Gift pension and unfunded pension arrangements In addition to the defined contribution plans, the Group has a few gift pensions and other unfunded defined benefit plans for some of the employees in Norway. On the transition to the defined contribution plan in Norway, there were individuals who would be disadvantaged in the event of early retirement at 65\u201367 years of age. To compensate for this, it was agreed to that a gift pension would be paid to all employees who were affected. As at 31.12.2023, this pension is linked to 70 active employees and 15 retired former employees. In the actuarial calculated defined benefit pension plans, the amount of the pension benefit at retirement is calculated based on salary, years of service and life expectancy. The Norwegian pension plans cover only few employees, thus the related pension liabilities are not material for the Group. At the end of the reporting period 2023 the total actuarial calculated defined benefit plan obligations amounted to EUR 2.4 million (2022: EUR 2.7 million)",
"dimensions": {
"concept": "ifrs-full:DisclosureOfEmployeeBenefitsExplanatory",
"language": "en",
"entity": "scheme:52990007AXNSS4PNX352",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"fact-356": {
"value": "1.5 EMPLOYEE BENEFIT EXPENSES In Anora, the total wages and salaries of personnel consists of fixed and variable pay, allowances, short and long-term incentives and fringe benefits. EUR million 2023 2022 Wages and salaries -83.0 -74.0 Pension expenses Defined contributions plans -10.5 -9.0 Defined benefit plans -0.1 0.0 Share-based payments -0.0 -0.6 Other social expenses -10.2 -10.1 TOTAL -103.8 -93.8 Employee benefit expenses include personnel related restructuring costs of EUR 4.9 million (2022: EUR 0.1 million). The EUR 4.9 million restructuring costs is split EUR 0.7 million to Wines, EUR 0.9 million to Spirits, EUR 2.4 million to Industrial and EUR 0.9 million in Group and Allocations. Average number of personnel during the period 2023 2022 Workers 542 538 Clerical employees 731 621 TOTAL 1,273 1,159 More information on the Group\u2019s pension plans is presented in Note 2.6. Information of management remuneration is presented in Note 6.3 related party transactions ",
"dimensions": {
"concept": "ifrs-full:DisclosureOfInformationAboutEmployeesExplanatory",
"language": "en",
"entity": "scheme:52990007AXNSS4PNX352",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"fact-357": {
"value": "1.6 OTHER OPERATING EXPENSES EUR million 2023 2022 Losses on sales and disposals of property, plant and equipment and intangible assets -0.2 -0.2 Short term, low value and other lease related payments -6.6 -4.7 Marketing expenses -28.0 -29.9 Travel and representation expenses -3.9 -5.2 Outsourcing services -27.3 -35.5 Repair and maintenance expenses -14.0 -14.8 Cars and transport services -7.9 -0.5 Energy expenses -11.8 -9.8 IT expenses -10.1 -12.0 Variable sales expenses -14.8 -16.0 Other expenses -9.4 -9.1 Total -134.1 -137.6 ",
"dimensions": {
"concept": "ifrs-full:DisclosureOfOtherOperatingExpenseExplanatory",
"language": "en",
"entity": "scheme:52990007AXNSS4PNX352",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"fact-358": {
"value": "Auditor\u2019s fees included in other operating expenses, EUR million 2023 2022 Audit fees -1.2 -1.2 Tax consulatation 0.0 0.0 Other fees -0.1 -0.3 Total -1.4 -1.4 The table above presents fees to Group auditor PricewaterhouseCoopers as well as other auditors of Group subsidiaries during the year.",
"dimensions": {
"concept": "ifrs-full:DisclosureOfAuditorsRemunerationExplanatory",
"language": "en",
"entity": "scheme:52990007AXNSS4PNX352",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"fact-359": {
"value": "1.7 RESEARCH AND DEVELOPMENT EXPENDITURES Operating result includes research and development expenditures amounting to EUR 2.3 million (2022: EUR 2.2 million). The R&D expenditures represents 0.3 % of net sales in 2023 (2022: 0.3%) ",
"dimensions": {
"concept": "ifrs-full:DisclosureOfResearchAndDevelopmentExpenseExplanatory",
"language": "en",
"entity": "scheme:52990007AXNSS4PNX352",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"fact-360": {
"value": "2.1 GOODWILL AND OTHER INTANGIBLE ASSETS Intangible assets comprise of goodwill, marketing related intangible assets (trademarks and company brands), customer related intangible assets, software, other intangible assets and prepayments for intangible assets. Intangible assets are capitalised at cost price or fair value with deduction for accumulated depreciation and accumulated write downs in the event of non-transitory impairment. Goodwill Goodwill arising on the business acquisition is recognised as a residual value in the excess of the aggregate of the consideration transferred, the amount of non-controlling interests and any previously held equity interest in the acquiree, over the fair value of the net assets acquired. Goodwill is measured at cost less accumulated impairment losses. Goodwill is not amortised but is tested annually for impairment. For the purpose of impairment testing, goodwill is allocated to the groups of cash generating units (CGU) that are expected to benefit from the business combinations in which the goodwill was generated . Marketing related intangible assets (Trademarks and company brands) Marketing related intangible assets are either arising from business acquisitions or purchased separately. Marketing related intangible assets that have been acquired in connection with business acquisitions are capitalised at fair value at the time of the business acquisition, while separately purchased marketing related intangible assets are capitalised at cost price. Critical estimates and management judgements \u2013 Useful lives of trademarks On initial recognition of marketing related intangible assets, an assessment is made on whether the asset is expected to have definite useful lives or not. In this assessment, the Group gives particular weight to Group\u2019s expected use of the asset, the customary life cycles for the assets of this type, the stability of the sector and the business, and the probability that the Group will succeed in maintaining the asset\u2019s financial lifetime, given the Group\u2019s ability to maintain value. The Group also devotes resources to legal control of these assets in large and important markets. Marketing related intangible assets with definite useful lives are amortised by the straight-line method over the expected useful life. The capitalised value of marketing related intangible assets with indefinite lifetime is tested for impairment at least once a year, or more often if there are indications that the value of the asset has decreased. The estimated useful lives of marketing related intangible assets are as follows: Trademarks with indefinite useful life: not amortized Trademarks with definite useful life: 0\u201350 years Company Brands with definite useful life: 5 years Customer related intangible assets (Customer relations) Customer related intangible assets are arising from business acquisitions and are capitalised at fair value at the time of the business acquisition. Customer related intangible assets are amortised by the straight-line method over the expected useful life. The estimated useful lives of customer related intangible assets are as follows: Customer relations Wine: 7\u201315 years Other intangible assets Other intangible assets include software in addition to prepayments for intangible assets. These other intangible assets are recognised in the balance sheet at the original cost and depreciated over their estimated useful lives. The costs related to other intangible assets are capitalised if it can be demonstrated that the asset will generate the future economic benefits, the entity controls the asset, and the purchase price can be measured reliably. All other expenditure is recognised as an expense when incurred. The estimated useful lives of intangible assets are as follows: IT-development and software: 3\u201310 years Expenditure on research activities is recognised in profit or loss in the period in which it is incurred. The Group has no projects related to the development activities of new products or processes qualifying for the identifiability and other criteria regarding capitalisation under IFRS. Accounting for emission allowances is described in Note 6.2 . There are no material contractual commitments for acquisitions of intangible assets . GOODWILL AND OTHER INTANGIBLE ASSETS EUR thousand Goodwill Trademarks and customer relations Software and other intangible assets Prepayments Other intangible assets total Acquisition cost at 1 January 2023 353.3 330.9 41.5 2.1 374.4 Additions - 0.1 0.3 2.6 2.9 Disposals -2.8 -16.1 -2.4 - -18.4 Effect of movement in exchange rates -10.7 -9.4 -0.9 - -10.3 Transfers between items - -0.1 3.4 -3.3 0.0 Acquisition cost at 31 December 2023 339.8 305.4 41.9 1.3 348.7 Accumulated amortisation and impairment losses at 1 January 2023 -42.8 -111.3 -37.0 - -148.3 Amortisation - -8.9 -2.3 - -11.2 Impairment losses - - -0.8 - -0.8 Accumulated amortisation on disposals and transfers 0.0 13.9 2.2 - 16.1 Effect of movement in exchange rates 7.3 1.1 0.8 - 1.8 Accumulated amortisation and impairment losses at 31 December 2023 -35.5 -105.3 -37.0 - -142.3 Carrying amount at 1 January 2023 310.5 219.5 4.6 2.1 226.1 CARRYING AMOUNT AT 31 DECEMBER 2023 304.3 200.1 4.9 1.3 206.3 Acquisition cost at 1 January 2022 327.3 300.0 40.6 0.8 341.4 Acquisition of subsidiaries 41.4 43.9 0.7 - 44.6 Additions - 0.1 0.3 1.7 2.1 Disposals - -0.4 -0.0 - -0.4 Effect of movement in exchange rates -15.4 -12.8 -0.5 - -13.3 Transfers between items - - 0.4 -0.4 0.0 Acquisition cost at 31 December 2022 353.3 330.9 41.5 2.1 374.4 Accumulated amortisation and impairment losses at 1 January 2022 -49.5 -109.5 -35.2 - -144.7 Amortisation - -8.1 -2.4 - -10.6 Accumulated amortisation on disposals and transfers - 0.4 0.0 - 0.4 Effect of movement in exchange rates 6.7 5.9 0.7 - 6.5 Accumulated amortisation and impairment losses at 31 December 2022 -42.8 -111.3 -37.0 - -148.3 Carrying amount at 1 January 2022 277.8 190.6 5.4 0.8 196.7 CARRYING AMOUNT AT 31 DECEMBER 2022 310.5 219.5 4.6 2.1 226.1 The most significant trademarks include for example, Gammel Opland, Aalborg, Gammel Dansk, Braastad, Lysholm Linie, L\u00f8iten, Hot\u2019n\u2019 Sweet, Renault, Xant\u00e9, Blossa, Chill Out, Explorer, 1-Enkelt and Arsenitch. Software and other intangible assets are mainly computer software. Impairment testing Book value of assets are assessed to determine whether there is any impairment at least at the end of each financial year. If any evidence of impairment emerges (a triggering event), the assets\u2019 recoverable amount is estimated. The recoverable amount is the higher of an asset\u2019s or CGU\u2019s fair value less costs to sell and value in use. An impairment loss is recognised if the carrying amount of an asset exceeds its recoverable amount. The impairment loss is immediately recognised in profit or loss and the estimated useful life of the asset in question is reassessed when an impairment loss is recognised. The impairment loss is reversed if there has been such a positive change in the estimates used to determine the recoverable amount of the asset or cash-generating unit, that recoverable amount of the asset will increase the book value of asset. Impairment losses are only reversed to the extent that the asset\u2019s carrying amount does not exceed the carrying amount that would have been determined if no impairment loss had been recognised. An impairment loss on goodwill is never reversed. Critical estimates and management judgements \u2013 Impairment testing: The preparation of calculations for the impairment testing of goodwill requires estimates regarding the future. The management\u2019s estimates and related critical uncertainties are related to the components of the recoverable amount calculation, including the discount rate, budgets, the terminal growth rate and development of the net sales and operating result, including estimated cost levels of main raw materials and energy. The discount rates reflect current assessments of the time value of money and relevant market risk premiums reflecting risks and uncertainties for which the future cash flow estimates have not been adjusted . The cash generating unit for impairment testing of marketing related intangible assets is the trademark itself. To determine the recoverable amount for these assets, future cash flows are calculated based on \u201crelief from royalty\u201d method after tax. Impairment testing of goodwill and intangible assets with indefinite useful life Allocation of goodwill Goodwill is allocated to groups of cash-generating units (CGU) that represent the level on which the management monitors the goodwill. The Group\u2019s three segments are considered to form the group of cash generating units (CGU) and represent the lowest level at which goodwill is monitored for internal management purposes. During 2023 there were no changes in the CGU structure. The allocation of goodwill to CGUs is as follows: EUR million 2023 % 2022 % Wine 105.4 34.6% 106.3 34.2% Spirits 198.9 65.4% 204.2 65.8% Total 304.3 100.0% 310.5 100.0% Impairment testing - Goodwill The key assumptions in goodwill impairment testing are operating result and discount rate. The goodwill allocated to the Group\u2019s cash-generating units is tested for impairment annually or when there is reason to assume that the carrying amount has exceeded the recoverable amount, with the carrying amount compared to the recoverable amount in the testing. The annual impairment tests have been carried out on 31 December 2023 and 31 October 2022. The cash flow estimates used are based on CGU-specific financial plans for the following year approved by the Group\u2019s Board of Directors. The forecast period applied for the calculations covers five years, beyond which the cash flow projections are extrapolated using a constant CGU specific long-term growth rate estimate. The forecasted cash flows for a longer term than this have been estimated by using an annual growth rate estimate of 2.0% which is based on an assumption of inflation growth. The terminal growth rate used is unchanged from 2022 impairment testing calculations. Pre-tax discount rates reflect specific risks relating to the relevant CGUs and the countries in which they operate. Management makes judgements regarding the development of assumptions other than WACC based on internal and external views of the industry\u2019s history and future. The weighted average costs of capital used as discount rates for the cash flow estimates are presented in the enclosed table: Used pre-tax discount rate % 2023 2022 Wine 8.2% 8.0% Spirits 8.6% 8.4% The estimated average operating margins used in the calculations are presented in the enclosed table: Projected average pre-tax operating result % 2023 2022 Wine 5.6% 9.5% Spirits 16.6% 13.2% Based on the analyses prepared by the Group, no reasonably possible change in any of the key assumptions would cause any of the tested unit\u2019s recoverable amount to decrease to be equal to its carrying amount. Impairment testing - Trademarks Equivalent impairment tests are made for trademarks with indefinite useful life and useful life of 50 years. The recoverable amount for trademarks is calculated on the basis of relief from royalty method after taxes whereby the brand\u2019s annual royalty rate is considered to be the expected long-term profit that the individual trademarks are expected to have. The forecast period applied for the calculations covers five years. The terminal value is based on an assumption of inflation growth of 2 percent. The terminal growth rate used is unchanged from 2022 impairment testing calculations. Cash flow estimates used are discounted using a post-tax discount rate specific for the country where each brand is predominantly sold. Used post-tax discount rate % 2023 2022 Norwegian Brands 7.3% 7.1% Danish Brands 6.5% 7.1% A significant proportion of the Group\u2019s trademarks are assessed not to have definite useful lives. These are not amortised on an ongoing basis but are solely subject to annual impairment testing. On initial recognition of trademarks, it is assessed whether the trademark is expected to have definite useful lives or not. In this assessment, the Group gives particular weight to Group\u2019s expected use of the trademark, the customary life cycles for trademarks of this type, the stability of the sector and the business, and the profitability that shall maintain the trademark\u2019s financial lifetime given the Group\u2019s ability to maintain value. The Group also devotes resources to legal control of trademarks in large and important markets. At the end of 2023, all of the Group\u2019s trademarks with indefinite useful lives were related to Spirits segment. The carrying amount of these assets amounted to EUR 128.3 million (2022: EUR 134.3 million). Most of the trademarks within Spirits business are trademarks that have existed for several decades, and some have existed for several hundred years. If impairment tests show declining curves over time, the trademark may be written down to higher of estimated value in use and fair value less costs to sell and a new assessment of the trademark\u2019s estimated useful live is performed. If it is estimated after a new assessment that the useful life is no longer indefinite, the trademark is redefined to have a definite useful life, whereby a straight line amortisation method is applied for the remaining book value over the remaining useful life. ",
"dimensions": {
"concept": "ifrs-full:DisclosureOfIntangibleAssetsExplanatory",
"language": "en",
"entity": "scheme:52990007AXNSS4PNX352",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"fact-361": {
"value": "2.1 GOODWILL AND OTHER INTANGIBLE ASSETS Intangible assets comprise of goodwill, marketing related intangible assets (trademarks and company brands), customer related intangible assets, software, other intangible assets and prepayments for intangible assets. Intangible assets are capitalised at cost price or fair value with deduction for accumulated depreciation and accumulated write downs in the event of non-transitory impairment. Goodwill Goodwill arising on the business acquisition is recognised as a residual value in the excess of the aggregate of the consideration transferred, the amount of non-controlling interests and any previously held equity interest in the acquiree, over the fair value of the net assets acquired. Goodwill is measured at cost less accumulated impairment losses. Goodwill is not amortised but is tested annually for impairment. For the purpose of impairment testing, goodwill is allocated to the groups of cash generating units (CGU) that are expected to benefit from the business combinations in which the goodwill was generated . Marketing related intangible assets (Trademarks and company brands) Marketing related intangible assets are either arising from business acquisitions or purchased separately. Marketing related intangible assets that have been acquired in connection with business acquisitions are capitalised at fair value at the time of the business acquisition, while separately purchased marketing related intangible assets are capitalised at cost price. Critical estimates and management judgements \u2013 Useful lives of trademarks On initial recognition of marketing related intangible assets, an assessment is made on whether the asset is expected to have definite useful lives or not. In this assessment, the Group gives particular weight to Group\u2019s expected use of the asset, the customary life cycles for the assets of this type, the stability of the sector and the business, and the probability that the Group will succeed in maintaining the asset\u2019s financial lifetime, given the Group\u2019s ability to maintain value. The Group also devotes resources to legal control of these assets in large and important markets. Marketing related intangible assets with definite useful lives are amortised by the straight-line method over the expected useful life. The capitalised value of marketing related intangible assets with indefinite lifetime is tested for impairment at least once a year, or more often if there are indications that the value of the asset has decreased. The estimated useful lives of marketing related intangible assets are as follows: Trademarks with indefinite useful life: not amortized Trademarks with definite useful life: 0\u201350 years Company Brands with definite useful life: 5 years Customer related intangible assets (Customer relations) Customer related intangible assets are arising from business acquisitions and are capitalised at fair value at the time of the business acquisition. Customer related intangible assets are amortised by the straight-line method over the expected useful life. The estimated useful lives of customer related intangible assets are as follows: Customer relations Wine: 7\u201315 years Other intangible assets Other intangible assets include software in addition to prepayments for intangible assets. These other intangible assets are recognised in the balance sheet at the original cost and depreciated over their estimated useful lives. The costs related to other intangible assets are capitalised if it can be demonstrated that the asset will generate the future economic benefits, the entity controls the asset, and the purchase price can be measured reliably. All other expenditure is recognised as an expense when incurred. The estimated useful lives of intangible assets are as follows: IT-development and software: 3\u201310 years Expenditure on research activities is recognised in profit or loss in the period in which it is incurred. The Group has no projects related to the development activities of new products or processes qualifying for the identifiability and other criteria regarding capitalisation under IFRS. Accounting for emission allowances is described in Note 6.2 . There are no material contractual commitments for acquisitions of intangible assets GOODWILL AND OTHER INTANGIBLE ASSETS EUR thousand Goodwill Trademarks and customer relations Software and other intangible assets Prepayments Other intangible assets total Acquisition cost at 1 January 2023 353.3 330.9 41.5 2.1 374.4 Additions - 0.1 0.3 2.6 2.9 Disposals -2.8 -16.1 -2.4 - -18.4 Effect of movement in exchange rates -10.7 -9.4 -0.9 - -10.3 Transfers between items - -0.1 3.4 -3.3 0.0 Acquisition cost at 31 December 2023 339.8 305.4 41.9 1.3 348.7 Accumulated amortisation and impairment losses at 1 January 2023 -42.8 -111.3 -37.0 - -148.3 Amortisation - -8.9 -2.3 - -11.2 Impairment losses - - -0.8 - -0.8 Accumulated amortisation on disposals and transfers 0.0 13.9 2.2 - 16.1 Effect of movement in exchange rates 7.3 1.1 0.8 - 1.8 Accumulated amortisation and impairment losses at 31 December 2023 -35.5 -105.3 -37.0 - -142.3 Carrying amount at 1 January 2023 310.5 219.5 4.6 2.1 226.1 CARRYING AMOUNT AT 31 DECEMBER 2023 304.3 200.1 4.9 1.3 206.3 Acquisition cost at 1 January 2022 327.3 300.0 40.6 0.8 341.4 Acquisition of subsidiaries 41.4 43.9 0.7 - 44.6 Additions - 0.1 0.3 1.7 2.1 Disposals - -0.4 -0.0 - -0.4 Effect of movement in exchange rates -15.4 -12.8 -0.5 - -13.3 Transfers between items - - 0.4 -0.4 0.0 Acquisition cost at 31 December 2022 353.3 330.9 41.5 2.1 374.4 Accumulated amortisation and impairment losses at 1 January 2022 -49.5 -109.5 -35.2 - -144.7 Amortisation - -8.1 -2.4 - -10.6 Accumulated amortisation on disposals and transfers - 0.4 0.0 - 0.4 Effect of movement in exchange rates 6.7 5.9 0.7 - 6.5 Accumulated amortisation and impairment losses at 31 December 2022 -42.8 -111.3 -37.0 - -148.3 Carrying amount at 1 January 2022 277.8 190.6 5.4 0.8 196.7 CARRYING AMOUNT AT 31 DECEMBER 2022 310.5 219.5 4.6 2.1 226.1 The most significant trademarks include for example, Gammel Opland, Aalborg, Gammel Dansk, Braastad, Lysholm Linie, L\u00f8iten, Hot\u2019n\u2019 Sweet, Renault, Xant\u00e9, Blossa, Chill Out, Explorer, 1-Enkelt and Arsenitch. Software and other intangible assets are mainly computer software. Impairment testing Book value of assets are assessed to determine whether there is any impairment at least at the end of each financial year. If any evidence of impairment emerges (a triggering event), the assets\u2019 recoverable amount is estimated. The recoverable amount is the higher of an asset\u2019s or CGU\u2019s fair value less costs to sell and value in use. An impairment loss is recognised if the carrying amount of an asset exceeds its recoverable amount. The impairment loss is immediately recognised in profit or loss and the estimated useful life of the asset in question is reassessed when an impairment loss is recognised. The impairment loss is reversed if there has been such a positive change in the estimates used to determine the recoverable amount of the asset or cash-generating unit, that recoverable amount of the asset will increase the book value of asset. Impairment losses are only reversed to the extent that the asset\u2019s carrying amount does not exceed the carrying amount that would have been determined if no impairment loss had been recognised. An impairment loss on goodwill is never reversed. Critical estimates and management judgements \u2013 Impairment testing: The preparation of calculations for the impairment testing of goodwill requires estimates regarding the future. The management\u2019s estimates and related critical uncertainties are related to the components of the recoverable amount calculation, including the discount rate, budgets, the terminal growth rate and development of the net sales and operating result, including estimated cost levels of main raw materials and energy. The discount rates reflect current assessments of the time value of money and relevant market risk premiums reflecting risks and uncertainties for which the future cash flow estimates have not been adjusted . The cash generating unit for impairment testing of marketing related intangible assets is the trademark itself. To determine the recoverable amount for these assets, future cash flows are calculated based on \u201crelief from royalty\u201d method after tax. Impairment testing of goodwill and intangible assets with indefinite useful life Allocation of goodwill Goodwill is allocated to groups of cash-generating units (CGU) that represent the level on which the management monitors the goodwill. The Group\u2019s three segments are considered to form the group of cash generating units (CGU) and represent the lowest level at which goodwill is monitored for internal management purposes. During 2023 there were no changes in the CGU structure. The allocation of goodwill to CGUs is as follows: EUR million 2023 % 2022 % Wine 105.4 34.6% 106.3 34.2% Spirits 198.9 65.4% 204.2 65.8% Total 304.3 100.0% 310.5 100.0% Impairment testing - Goodwill The key assumptions in goodwill impairment testing are operating result and discount rate. The goodwill allocated to the Group\u2019s cash-generating units is tested for impairment annually or when there is reason to assume that the carrying amount has exceeded the recoverable amount, with the carrying amount compared to the recoverable amount in the testing. The annual impairment tests have been carried out on 31 December 2023 and 31 October 2022. The cash flow estimates used are based on CGU-specific financial plans for the following year approved by the Group\u2019s Board of Directors. The forecast period applied for the calculations covers five years, beyond which the cash flow projections are extrapolated using a constant CGU specific long-term growth rate estimate. The forecasted cash flows for a longer term than this have been estimated by using an annual growth rate estimate of 2.0% which is based on an assumption of inflation growth. The terminal growth rate used is unchanged from 2022 impairment testing calculations. Pre-tax discount rates reflect specific risks relating to the relevant CGUs and the countries in which they operate. Management makes judgements regarding the development of assumptions other than WACC based on internal and external views of the industry\u2019s history and future. The weighted average costs of capital used as discount rates for the cash flow estimates are presented in the enclosed table: Used pre-tax discount rate % 2023 2022 Wine 8.2% 8.0% Spirits 8.6% 8.4% The estimated average operating margins used in the calculations are presented in the enclosed table: Projected average pre-tax operating result % 2023 2022 Wine 5.6% 9.5% Spirits 16.6% 13.2% Based on the analyses prepared by the Group, no reasonably possible change in any of the key assumptions would cause any of the tested unit\u2019s recoverable amount to decrease to be equal to its carrying amount. Impairment testing - Trademarks Equivalent impairment tests are made for trademarks with indefinite useful life and useful life of 50 years. The recoverable amount for trademarks is calculated on the basis of relief from royalty method after taxes whereby the brand\u2019s annual royalty rate is considered to be the expected long-term profit that the individual trademarks are expected to have. The forecast period applied for the calculations covers five years. The terminal value is based on an assumption of inflation growth of 2 percent. The terminal growth rate used is unchanged from 2022 impairment testing calculations. Cash flow estimates used are discounted using a post-tax discount rate specific for the country where each brand is predominantly sold. Used post-tax discount rate % 2023 2022 Norwegian Brands 7.3% 7.1% Danish Brands 6.5% 7.1% A significant proportion of the Group\u2019s trademarks are assessed not to have definite useful lives. These are not amortised on an ongoing basis but are solely subject to annual impairment testing. On initial recognition of trademarks, it is assessed whether the trademark is expected to have definite useful lives or not. In this assessment, the Group gives particular weight to Group\u2019s expected use of the trademark, the customary life cycles for trademarks of this type, the stability of the sector and the business, and the profitability that shall maintain the trademark\u2019s financial lifetime given the Group\u2019s ability to maintain value. The Group also devotes resources to legal control of trademarks in large and important markets. At the end of 2023, all of the Group\u2019s trademarks with indefinite useful lives were related to Spirits segment. The carrying amount of these assets amounted to EUR 128.3 million (2022: EUR 134.3 million). Most of the trademarks within Spirits business are trademarks that have existed for several decades, and some have existed for several hundred years. If impairment tests show declining curves over time, the trademark may be written down to higher of estimated value in use and fair value less costs to sell and a new assessment of the trademark\u2019s estimated useful live is performed. If it is estimated after a new assessment that the useful life is no longer indefinite, the trademark is redefined to have a definite useful life, whereby a straight line amortisation method is applied for the remaining book value over the remaining useful life.",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForIntangibleAssetsAndGoodwillExplanatory",
"language": "en",
"entity": "scheme:52990007AXNSS4PNX352",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"fact-362": {
"value": "2.1 GOODWILL AND OTHER INTANGIBLE ASSETS Intangible assets comprise of goodwill, marketing related intangible assets (trademarks and company brands), customer related intangible assets, software, other intangible assets and prepayments for intangible assets. Intangible assets are capitalised at cost price or fair value with deduction for accumulated depreciation and accumulated write downs in the event of non-transitory impairment. Goodwill Goodwill arising on the business acquisition is recognised as a residual value in the excess of the aggregate of the consideration transferred, the amount of non-controlling interests and any previously held equity interest in the acquiree, over the fair value of the net assets acquired. Goodwill is measured at cost less accumulated impairment losses. Goodwill is not amortised but is tested annually for impairment. For the purpose of impairment testing, goodwill is allocated to the groups of cash generating units (CGU) that are expected to benefit from the business combinations in which the goodwill was generated GOODWILL AND OTHER INTANGIBLE ASSETS EUR thousand Goodwill Trademarks and customer relations Software and other intangible assets Prepayments Other intangible assets total Acquisition cost at 1 January 2023 353.3 330.9 41.5 2.1 374.4 Additions - 0.1 0.3 2.6 2.9 Disposals -2.8 -16.1 -2.4 - -18.4 Effect of movement in exchange rates -10.7 -9.4 -0.9 - -10.3 Transfers between items - -0.1 3.4 -3.3 0.0 Acquisition cost at 31 December 2023 339.8 305.4 41.9 1.3 348.7 Accumulated amortisation and impairment losses at 1 January 2023 -42.8 -111.3 -37.0 - -148.3 Amortisation - -8.9 -2.3 - -11.2 Impairment losses - - -0.8 - -0.8 Accumulated amortisation on disposals and transfers 0.0 13.9 2.2 - 16.1 Effect of movement in exchange rates 7.3 1.1 0.8 - 1.8 Accumulated amortisation and impairment losses at 31 December 2023 -35.5 -105.3 -37.0 - -142.3 Carrying amount at 1 January 2023 310.5 219.5 4.6 2.1 226.1 CARRYING AMOUNT AT 31 DECEMBER 2023 304.3 200.1 4.9 1.3 206.3 Acquisition cost at 1 January 2022 327.3 300.0 40.6 0.8 341.4 Acquisition of subsidiaries 41.4 43.9 0.7 - 44.6 Additions - 0.1 0.3 1.7 2.1 Disposals - -0.4 -0.0 - -0.4 Effect of movement in exchange rates -15.4 -12.8 -0.5 - -13.3 Transfers between items - - 0.4 -0.4 0.0 Acquisition cost at 31 December 2022 353.3 330.9 41.5 2.1 374.4 Accumulated amortisation and impairment losses at 1 January 2022 -49.5 -109.5 -35.2 - -144.7 Amortisation - -8.1 -2.4 - -10.6 Accumulated amortisation on disposals and transfers - 0.4 0.0 - 0.4 Effect of movement in exchange rates 6.7 5.9 0.7 - 6.5 Accumulated amortisation and impairment losses at 31 December 2022 -42.8 -111.3 -37.0 - -148.3 Carrying amount at 1 January 2022 277.8 190.6 5.4 0.8 196.7 CARRYING AMOUNT AT 31 DECEMBER 2022 310.5 219.5 4.6 2.1 226.1 The most significant trademarks include for example, Gammel Opland, Aalborg, Gammel Dansk, Braastad, Lysholm Linie, L\u00f8iten, Hot\u2019n\u2019 Sweet, Renault, Xant\u00e9, Blossa, Chill Out, Explorer, 1-Enkelt and Arsenitch. Software and other intangible assets are mainly computer software. Impairment testing Book value of assets are assessed to determine whether there is any impairment at least at the end of each financial year. If any evidence of impairment emerges (a triggering event), the assets\u2019 recoverable amount is estimated. The recoverable amount is the higher of an asset\u2019s or CGU\u2019s fair value less costs to sell and value in use. An impairment loss is recognised if the carrying amount of an asset exceeds its recoverable amount. The impairment loss is immediately recognised in profit or loss and the estimated useful life of the asset in question is reassessed when an impairment loss is recognised. The impairment loss is reversed if there has been such a positive change in the estimates used to determine the recoverable amount of the asset or cash-generating unit, that recoverable amount of the asset will increase the book value of asset. Impairment losses are only reversed to the extent that the asset\u2019s carrying amount does not exceed the carrying amount that would have been determined if no impairment loss had been recognised. An impairment loss on goodwill is never reversed. Critical estimates and management judgements \u2013 Impairment testing: The preparation of calculations for the impairment testing of goodwill requires estimates regarding the future. The management\u2019s estimates and related critical uncertainties are related to the components of the recoverable amount calculation, including the discount rate, budgets, the terminal growth rate and development of the net sales and operating result, including estimated cost levels of main raw materials and energy. The discount rates reflect current assessments of the time value of money and relevant market risk premiums reflecting risks and uncertainties for which the future cash flow estimates have not been adjusted . The cash generating unit for impairment testing of marketing related intangible assets is the trademark itself. To determine the recoverable amount for these assets, future cash flows are calculated based on \u201crelief from royalty\u201d method after tax. Impairment testing of goodwill and intangible assets with indefinite useful life Allocation of goodwill Goodwill is allocated to groups of cash-generating units (CGU) that represent the level on which the management monitors the goodwill. The Group\u2019s three segments are considered to form the group of cash generating units (CGU) and represent the lowest level at which goodwill is monitored for internal management purposes. During 2023 there were no changes in the CGU structure. The allocation of goodwill to CGUs is as follows: EUR million 2023 % 2022 % Wine 105.4 34.6% 106.3 34.2% Spirits 198.9 65.4% 204.2 65.8% Total 304.3 100.0% 310.5 100.0% Impairment testing - Goodwill The key assumptions in goodwill impairment testing are operating result and discount rate. The goodwill allocated to the Group\u2019s cash-generating units is tested for impairment annually or when there is reason to assume that the carrying amount has exceeded the recoverable amount, with the carrying amount compared to the recoverable amount in the testing. The annual impairment tests have been carried out on 31 December 2023 and 31 October 2022. The cash flow estimates used are based on CGU-specific financial plans for the following year approved by the Group\u2019s Board of Directors. The forecast period applied for the calculations covers five years, beyond which the cash flow projections are extrapolated using a constant CGU specific long-term growth rate estimate. The forecasted cash flows for a longer term than this have been estimated by using an annual growth rate estimate of 2.0% which is based on an assumption of inflation growth. The terminal growth rate used is unchanged from 2022 impairment testing calculations. Pre-tax discount rates reflect specific risks relating to the relevant CGUs and the countries in which they operate. Management makes judgements regarding the development of assumptions other than WACC based on internal and external views of the industry\u2019s history and future. The weighted average costs of capital used as discount rates for the cash flow estimates are presented in the enclosed table: Used pre-tax discount rate % 2023 2022 Wine 8.2% 8.0% Spirits 8.6% 8.4% The estimated average operating margins used in the calculations are presented in the enclosed table: Projected average pre-tax operating result % 2023 2022 Wine 5.6% 9.5% Spirits 16.6% 13.2% Based on the analyses prepared by the Group, no reasonably possible change in any of the key assumptions would cause any of the tested unit\u2019s recoverable amount to decrease to be equal to its carrying amount. ",
"dimensions": {
"concept": "ifrs-full:DisclosureOfGoodwillExplanatory",
"language": "en",
"entity": "scheme:52990007AXNSS4PNX352",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"fact-363": {
"value": "2.1 GOODWILL AND OTHER INTANGIBLE ASSETS Intangible assets comprise of goodwill, marketing related intangible assets (trademarks and company brands), customer related intangible assets, software, other intangible assets and prepayments for intangible assets. Intangible assets are capitalised at cost price or fair value with deduction for accumulated depreciation and accumulated write downs in the event of non-transitory impairment. Goodwill Goodwill arising on the business acquisition is recognised as a residual value in the excess of the aggregate of the consideration transferred, the amount of non-controlling interests and any previously held equity interest in the acquiree, over the fair value of the net assets acquired. Goodwill is measured at cost less accumulated impairment losses. Goodwill is not amortised but is tested annually for impairment. For the purpose of impairment testing, goodwill is allocated to the groups of cash generating units (CGU) that are expected to benefit from the business combinations in which the goodwill was generated . Marketing related intangible assets (Trademarks and company brands) Marketing related intangible assets are either arising from business acquisitions or purchased separately. Marketing related intangible assets that have been acquired in connection with business acquisitions are capitalised at fair value at the time of the business acquisition, while separately purchased marketing related intangible assets are capitalised at cost price. Critical estimates and management judgements \u2013 Useful lives of trademarks On initial recognition of marketing related intangible assets, an assessment is made on whether the asset is expected to have definite useful lives or not. In this assessment, the Group gives particular weight to Group\u2019s expected use of the asset, the customary life cycles for the assets of this type, the stability of the sector and the business, and the probability that the Group will succeed in maintaining the asset\u2019s financial lifetime, given the Group\u2019s ability to maintain value. The Group also devotes resources to legal control of these assets in large and important markets. Marketing related intangible assets with definite useful lives are amortised by the straight-line method over the expected useful life. The capitalised value of marketing related intangible assets with indefinite lifetime is tested for impairment at least once a year, or more often if there are indications that the value of the asset has decreased. The estimated useful lives of marketing related intangible assets are as follows: Trademarks with indefinite useful life: not amortized Trademarks with definite useful life: 0\u201350 years Company Brands with definite useful life: 5 years Customer related intangible assets (Customer relations) Customer related intangible assets are arising from business acquisitions and are capitalised at fair value at the time of the business acquisition. Customer related intangible assets are amortised by the straight-line method over the expected useful life. The estimated useful lives of customer related intangible assets are as follows: Customer relations Wine: 7\u201315 years Other intangible assets Other intangible assets include software in addition to prepayments for intangible assets. These other intangible assets are recognised in the balance sheet at the original cost and depreciated over their estimated useful lives. The costs related to other intangible assets are capitalised if it can be demonstrated that the asset will generate the future economic benefits, the entity controls the asset, and the purchase price can be measured reliably. All other expenditure is recognised as an expense when incurred. The estimated useful lives of intangible assets are as follows: IT-development and software: 3\u201310 years Expenditure on research activities is recognised in profit or loss in the period in which it is incurred. The Group has no projects related to the development activities of new products or processes qualifying for the identifiability and other criteria regarding capitalisation under IFRS. Accounting for emission allowances is described in Note 6.2 . There are no material contractual commitments for acquisitions of intangible assets GOODWILL AND OTHER INTANGIBLE ASSETS EUR thousand Goodwill Trademarks and customer relations Software and other intangible assets Prepayments Other intangible assets total Acquisition cost at 1 January 2023 353.3 330.9 41.5 2.1 374.4 Additions - 0.1 0.3 2.6 2.9 Disposals -2.8 -16.1 -2.4 - -18.4 Effect of movement in exchange rates -10.7 -9.4 -0.9 - -10.3 Transfers between items - -0.1 3.4 -3.3 0.0 Acquisition cost at 31 December 2023 339.8 305.4 41.9 1.3 348.7 Accumulated amortisation and impairment losses at 1 January 2023 -42.8 -111.3 -37.0 - -148.3 Amortisation - -8.9 -2.3 - -11.2 Impairment losses - - -0.8 - -0.8 Accumulated amortisation on disposals and transfers 0.0 13.9 2.2 - 16.1 Effect of movement in exchange rates 7.3 1.1 0.8 - 1.8 Accumulated amortisation and impairment losses at 31 December 2023 -35.5 -105.3 -37.0 - -142.3 Carrying amount at 1 January 2023 310.5 219.5 4.6 2.1 226.1 CARRYING AMOUNT AT 31 DECEMBER 2023 304.3 200.1 4.9 1.3 206.3 Acquisition cost at 1 January 2022 327.3 300.0 40.6 0.8 341.4 Acquisition of subsidiaries 41.4 43.9 0.7 - 44.6 Additions - 0.1 0.3 1.7 2.1 Disposals - -0.4 -0.0 - -0.4 Effect of movement in exchange rates -15.4 -12.8 -0.5 - -13.3 Transfers between items - - 0.4 -0.4 0.0 Acquisition cost at 31 December 2022 353.3 330.9 41.5 2.1 374.4 Accumulated amortisation and impairment losses at 1 January 2022 -49.5 -109.5 -35.2 - -144.7 Amortisation - -8.1 -2.4 - -10.6 Accumulated amortisation on disposals and transfers - 0.4 0.0 - 0.4 Effect of movement in exchange rates 6.7 5.9 0.7 - 6.5 Accumulated amortisation and impairment losses at 31 December 2022 -42.8 -111.3 -37.0 - -148.3 Carrying amount at 1 January 2022 277.8 190.6 5.4 0.8 196.7 CARRYING AMOUNT AT 31 DECEMBER 2022 310.5 219.5 4.6 2.1 226.1 The most significant trademarks include for example, Gammel Opland, Aalborg, Gammel Dansk, Braastad, Lysholm Linie, L\u00f8iten, Hot\u2019n\u2019 Sweet, Renault, Xant\u00e9, Blossa, Chill Out, Explorer, 1-Enkelt and Arsenitch. Software and other intangible assets are mainly computer software. Impairment testing Book value of assets are assessed to determine whether there is any impairment at least at the end of each financial year. If any evidence of impairment emerges (a triggering event), the assets\u2019 recoverable amount is estimated. The recoverable amount is the higher of an asset\u2019s or CGU\u2019s fair value less costs to sell and value in use. An impairment loss is recognised if the carrying amount of an asset exceeds its recoverable amount. The impairment loss is immediately recognised in profit or loss and the estimated useful life of the asset in question is reassessed when an impairment loss is recognised. The impairment loss is reversed if there has been such a positive change in the estimates used to determine the recoverable amount of the asset or cash-generating unit, that recoverable amount of the asset will increase the book value of asset. Impairment losses are only reversed to the extent that the asset\u2019s carrying amount does not exceed the carrying amount that would have been determined if no impairment loss had been recognised. An impairment loss on goodwill is never reversed. Critical estimates and management judgements \u2013 Impairment testing: The preparation of calculations for the impairment testing of goodwill requires estimates regarding the future. The management\u2019s estimates and related critical uncertainties are related to the components of the recoverable amount calculation, including the discount rate, budgets, the terminal growth rate and development of the net sales and operating result, including estimated cost levels of main raw materials and energy. The discount rates reflect current assessments of the time value of money and relevant market risk premiums reflecting risks and uncertainties for which the future cash flow estimates have not been adjusted . The cash generating unit for impairment testing of marketing related intangible assets is the trademark itself. To determine the recoverable amount for these assets, future cash flows are calculated based on \u201crelief from royalty\u201d method after tax. Impairment testing of goodwill and intangible assets with indefinite useful life Allocation of goodwill Goodwill is allocated to groups of cash-generating units (CGU) that represent the level on which the management monitors the goodwill. The Group\u2019s three segments are considered to form the group of cash generating units (CGU) and represent the lowest level at which goodwill is monitored for internal management purposes. During 2023 there were no changes in the CGU structure. The allocation of goodwill to CGUs is as follows: EUR million 2023 % 2022 % Wine 105.4 34.6% 106.3 34.2% Spirits 198.9 65.4% 204.2 65.8% Total 304.3 100.0% 310.5 100.0% Impairment testing - Goodwill The key assumptions in goodwill impairment testing are operating result and discount rate. The goodwill allocated to the Group\u2019s cash-generating units is tested for impairment annually or when there is reason to assume that the carrying amount has exceeded the recoverable amount, with the carrying amount compared to the recoverable amount in the testing. The annual impairment tests have been carried out on 31 December 2023 and 31 October 2022. The cash flow estimates used are based on CGU-specific financial plans for the following year approved by the Group\u2019s Board of Directors. The forecast period applied for the calculations covers five years, beyond which the cash flow projections are extrapolated using a constant CGU specific long-term growth rate estimate. The forecasted cash flows for a longer term than this have been estimated by using an annual growth rate estimate of 2.0% which is based on an assumption of inflation growth. The terminal growth rate used is unchanged from 2022 impairment testing calculations. Pre-tax discount rates reflect specific risks relating to the relevant CGUs and the countries in which they operate. Management makes judgements regarding the development of assumptions other than WACC based on internal and external views of the industry\u2019s history and future. The weighted average costs of capital used as discount rates for the cash flow estimates are presented in the enclosed table: Used pre-tax discount rate % 2023 2022 Wine 8.2% 8.0% Spirits 8.6% 8.4% The estimated average operating margins used in the calculations are presented in the enclosed table: Projected average pre-tax operating result % 2023 2022 Wine 5.6% 9.5% Spirits 16.6% 13.2% Based on the analyses prepared by the Group, no reasonably possible change in any of the key assumptions would cause any of the tested unit\u2019s recoverable amount to decrease to be equal to its carrying amount. Impairment testing - Trademarks Equivalent impairment tests are made for trademarks with indefinite useful life and useful life of 50 years. The recoverable amount for trademarks is calculated on the basis of relief from royalty method after taxes whereby the brand\u2019s annual royalty rate is considered to be the expected long-term profit that the individual trademarks are expected to have. The forecast period applied for the calculations covers five years. The terminal value is based on an assumption of inflation growth of 2 percent. The terminal growth rate used is unchanged from 2022 impairment testing calculations. Cash flow estimates used are discounted using a post-tax discount rate specific for the country where each brand is predominantly sold. Used post-tax discount rate % 2023 2022 Norwegian Brands 7.3% 7.1% Danish Brands 6.5% 7.1% A significant proportion of the Group\u2019s trademarks are assessed not to have definite useful lives. These are not amortised on an ongoing basis but are solely subject to annual impairment testing. On initial recognition of trademarks, it is assessed whether the trademark is expected to have definite useful lives or not. In this assessment, the Group gives particular weight to Group\u2019s expected use of the trademark, the customary life cycles for trademarks of this type, the stability of the sector and the business, and the profitability that shall maintain the trademark\u2019s financial lifetime given the Group\u2019s ability to maintain value. The Group also devotes resources to legal control of trademarks in large and important markets. At the end of 2023, all of the Group\u2019s trademarks with indefinite useful lives were related to Spirits segment. The carrying amount of these assets amounted to EUR 128.3 million (2022: EUR 134.3 million). Most of the trademarks within Spirits business are trademarks that have existed for several decades, and some have existed for several hundred years. If impairment tests show declining curves over time, the trademark may be written down to higher of estimated value in use and fair value less costs to sell and a new assessment of the trademark\u2019s estimated useful live is performed. If it is estimated after a new assessment that the useful life is no longer indefinite, the trademark is redefined to have a definite useful life, whereby a straight line amortisation method is applied for the remaining book value over the remaining useful life. ",
"dimensions": {
"concept": "ifrs-full:DisclosureOfIntangibleAssetsAndGoodwillExplanatory",
"language": "en",
"entity": "scheme:52990007AXNSS4PNX352",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"fact-364": {
"value": "Goodwill Goodwill arising on the business acquisition is recognised as a residual value in the excess of the aggregate of the consideration transferred, the amount of non-controlling interests and any previously held equity interest in the acquiree, over the fair value of the net assets acquired. Goodwill is measured at cost less accumulated impairment losses. Goodwill is not amortised but is tested annually for impairment. For the purpose of impairment testing, goodwill is allocated to the groups of cash generating units (CGU) that are expected to benefit from the business combinations in which the goodwill was generated . ",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForGoodwillExplanatory",
"language": "en",
"entity": "scheme:52990007AXNSS4PNX352",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"fact-365": {
"value": "Marketing related intangible assets (Trademarks and company brands) Marketing related intangible assets are either arising from business acquisitions or purchased separately. Marketing related intangible assets that have been acquired in connection with business acquisitions are capitalised at fair value at the time of the business acquisition, while separately purchased marketing related intangible assets are capitalised at cost price. Critical estimates and management judgements \u2013 Useful lives of trademarks On initial recognition of marketing related intangible assets, an assessment is made on whether the asset is expected to have definite useful lives or not. In this assessment, the Group gives particular weight to Group\u2019s expected use of the asset, the customary life cycles for the assets of this type, the stability of the sector and the business, and the probability that the Group will succeed in maintaining the asset\u2019s financial lifetime, given the Group\u2019s ability to maintain value. The Group also devotes resources to legal control of these assets in large and important markets. Marketing related intangible assets with definite useful lives are amortised by the straight-line method over the expected useful life. The capitalised value of marketing related intangible assets with indefinite lifetime is tested for impairment at least once a year, or more often if there are indications that the value of the asset has decreased. The estimated useful lives of marketing related intangible assets are as follows: Trademarks with indefinite useful life: not amortized Trademarks with definite useful life: 0\u201350 years Company Brands with definite useful life: 5 years Customer related intangible assets (Customer relations) Customer related intangible assets are arising from business acquisitions and are capitalised at fair value at the time of the business acquisition. Customer related intangible assets are amortised by the straight-line method over the expected useful life. The estimated useful lives of customer related intangible assets are as follows: Customer relations Wine: 7\u201315 years Other intangible assets Other intangible assets include software in addition to prepayments for intangible assets. These other intangible assets are recognised in the balance sheet at the original cost and depreciated over their estimated useful lives. The costs related to other intangible assets are capitalised if it can be demonstrated that the asset will generate the future economic benefits, the entity controls the asset, and the purchase price can be measured reliably. All other expenditure is recognised as an expense when incurred. The estimated useful lives of intangible assets are as follows: IT-development and software: 3\u201310 years ",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForIntangibleAssetsOtherThanGoodwillExplanatory",
"language": "en",
"entity": "scheme:52990007AXNSS4PNX352",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"fact-366": {
"value": "The estimated useful lives of marketing related intangible assets are as follows: Trademarks with indefinite useful life: not amortized Trademarks with definite useful life: 0\u201350 years Company Brands with definite useful life: 5 years Customer related intangible assets are amortised by the straight-line method over the expected useful life. The estimated useful lives of customer related intangible assets are as follows: Customer relations Wine: 7\u201315 years The estimated useful lives of intangible assets are as follows: IT-development and software: 3\u201310 years The estimated useful lives of property, plant and equipment are as follows: Buildings and structures 10\u201340 years Machinery and equipment 3\u201320 years Other tangible assets 3\u201310 years ",
"dimensions": {
"concept": "ifrs-full:DisclosureOfDepreciationAndAmortisationExpenseExplanatory",
"language": "en",
"entity": "scheme:52990007AXNSS4PNX352",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"fact-367": {
"value": "The estimated useful lives of marketing related intangible assets are as follows: Trademarks with indefinite useful life: not amortized Trademarks with definite useful life: 0\u201350 years Company Brands with definite useful life: 5 years Customer related intangible assets are amortised by the straight-line method over the expected useful life. The estimated useful lives of customer related intangible assets are as follows: Customer relations Wine: 7\u201315 years The estimated useful lives of intangible assets are as follows: IT-development and software: 3\u201310 years The estimated useful lives of property, plant and equipment are as follows: Buildings and structures 10\u201340 years Machinery and equipment 3\u201320 years Other tangible assets 3\u201310 years ",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForDepreciationExpenseExplanatory",
"language": "en",
"entity": "scheme:52990007AXNSS4PNX352",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"fact-368": {
"value": "Expenditure on research activities is recognised in profit or loss in the period in which it is incurred. The Group has no projects related to the development activities of new products or processes qualifying for the identifiability and other criteria regarding capitalisation under IFRS. ",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForResearchAndDevelopmentExpenseExplanatory",
"language": "en",
"entity": "scheme:52990007AXNSS4PNX352",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"fact-369": {
"value": "Accounting for emission allowances is described in Note 6.2 Emission allowances The Group participates in the European Union emission trading scheme, where it has been granted a certain number of carbon dioxide emission allowances for a certain period of time, free of charge. Anora Group Plc discloses its carbon dioxide emission allowances granted free of charge on net basis. The emission allowances granted free are recognised on zero-value. If the Group has sufficient amount of allowances to cover the obligation to deliver allowances corresponding to the amount of emissions made, the obligation is recognised as corresponding value of emissions (zero value). The Group does not recognise income or expenses arising from emission allowances through profit or loss when the emission allowances granted are sufficient to cover the obligation to deliver allowances corresponding to the amount of emissions made. If the realised emissions exceed the granted emission allowances, the obligation arising from the excess emissions is recognised at fair value as a liability in the balance sheet at the reporting date. If the realised emissions fall below the granted emission allowances, the difference is not recognised in the balance sheet but it is disclosed in the notes to the financial statements, measured at fair value. Anora\u2019s actual emissions are below the emission allowances granted. The following table presents changes in allowances for financial years 2023 and 2022, as well as their fair values: Emission allowances, kilotons 2023 2022 Emissions allowances received 22.6 22.6 Excess emission allowances from the previous period 2.0 13.5 Sold emission allowances -2.0 -13.0 Realised emissions -21.6 -21.1 Emission allowances at 31 December 1.0 2.0 Fair value of emission allowances at 31 December, EUR million 0.1 0.2 Anora continues to operate within the emission trading system for the trading period 2021\u20132030",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForEmissionRightsExplanatory",
"language": "en",
"entity": "scheme:52990007AXNSS4PNX352",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"fact-370": {
"value": "There are no material contractual commitments for acquisitions of intangible assets . 6.2 COLLATERALS, COMMITMENTS AND CONTINGENT ASSETS AND LIABILITIES EUR million 2023 2022 Collaterals and commitments Collaterals given on behalf of Group companies Mortgages 18.5 18.5 Guarantees 13.0 9.3 TOTAL COLLATERALS 31.5 27.8 Commitments Short-term and low value lease obligations; Less than one year 0.3 0.2 Between one and five years 0.3 0.3 Total short-term and low value lease obligations 0.6 0.5 Other commitments 2.3 18.1 TOTAL COMMITMENTS 2.9 18.6 Collaterals given on behalf of Group companies all relate to commitments to authorities. Short-term and low value obligations consist mainly of laptops. Other commitments include mainly purchase obligations of wine. There are no material contractual commitments for acquisitions of intangible assets. Emission allowances The Group participates in the European Union emission trading scheme, where it has been granted a certain number of carbon dioxide emission allowances for a certain period of time, free of charge. Anora Group Plc discloses its carbon dioxide emission allowances granted free of charge on net basis. The emission allowances granted free are recognised on zero-value. If the Group has sufficient amount of allowances to cover the obligation to deliver allowances corresponding to the amount of emissions made, the obligation is recognised as corresponding value of emissions (zero value). The Group does not recognise income or expenses arising from emission allowances through profit or loss when the emission allowances granted are sufficient to cover the obligation to deliver allowances corresponding to the amount of emissions made. If the realised emissions exceed the granted emission allowances, the obligation arising from the excess emissions is recognised at fair value as a liability in the balance sheet at the reporting date. If the realised emissions fall below the granted emission allowances, the difference is not recognised in the balance sheet but it is disclosed in the notes to the financial statements, measured at fair value. Anora\u2019s actual emissions are below the emission allowances granted. The following table presents changes in allowances for financial years 2023 and 2022, as well as their fair values: Emission allowances, kilotons 2023 2022 Emissions allowances received 22.6 22.6 Excess emission allowances from the previous period 2.0 13.5 Sold emission allowances -2.0 -13.0 Realised emissions -21.6 -21.1 Emission allowances at 31 December 1.0 2.0 Fair value of emission allowances at 31 December, EUR million 0.1 0.2 Anora continues to operate within the emission trading system for the trading period 2021\u20132030",
"dimensions": {
"concept": "ifrs-full:DisclosureOfCommitmentsExplanatory",
"language": "en",
"entity": "scheme:52990007AXNSS4PNX352",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"fact-371": {
"value": "Impairment testing Book value of assets are assessed to determine whether there is any impairment at least at the end of each financial year. If any evidence of impairment emerges (a triggering event), the assets\u2019 recoverable amount is estimated. The recoverable amount is the higher of an asset\u2019s or CGU\u2019s fair value less costs to sell and value in use. An impairment loss is recognised if the carrying amount of an asset exceeds its recoverable amount. The impairment loss is immediately recognised in profit or loss and the estimated useful life of the asset in question is reassessed when an impairment loss is recognised. The impairment loss is reversed if there has been such a positive change in the estimates used to determine the recoverable amount of the asset or cash-generating unit, that recoverable amount of the asset will increase the book value of asset. Impairment losses are only reversed to the extent that the asset\u2019s carrying amount does not exceed the carrying amount that would have been determined if no impairment loss had been recognised. An impairment loss on goodwill is never reversed. Critical estimates and management judgements \u2013 Impairment testing: The preparation of calculations for the impairment testing of goodwill requires estimates regarding the future. The management\u2019s estimates and related critical uncertainties are related to the components of the recoverable amount calculation, including the discount rate, budgets, the terminal growth rate and development of the net sales and operating result, including estimated cost levels of main raw materials and energy. The discount rates reflect current assessments of the time value of money and relevant market risk premiums reflecting risks and uncertainties for which the future cash flow estimates have not been adjusted . The cash generating unit for impairment testing of marketing related intangible assets is the trademark itself. To determine the recoverable amount for these assets, future cash flows are calculated based on \u201crelief from royalty\u201d method after tax. Impairment testing of goodwill and intangible assets with indefinite useful life Allocation of goodwill Goodwill is allocated to groups of cash-generating units (CGU) that represent the level on which the management monitors the goodwill. The Group\u2019s three segments are considered to form the group of cash generating units (CGU) and represent the lowest level at which goodwill is monitored for internal management purposes. During 2023 there were no changes in the CGU structure. The allocation of goodwill to CGUs is as follows: EUR million 2023 % 2022 % Wine 105.4 34.6% 106.3 34.2% Spirits 198.9 65.4% 204.2 65.8% Total 304.3 100.0% 310.5 100.0% Impairment testing - Goodwill The key assumptions in goodwill impairment testing are operating result and discount rate. The goodwill allocated to the Group\u2019s cash-generating units is tested for impairment annually or when there is reason to assume that the carrying amount has exceeded the recoverable amount, with the carrying amount compared to the recoverable amount in the testing. The annual impairment tests have been carried out on 31 December 2023 and 31 October 2022. The cash flow estimates used are based on CGU-specific financial plans for the following year approved by the Group\u2019s Board of Directors. The forecast period applied for the calculations covers five years, beyond which the cash flow projections are extrapolated using a constant CGU specific long-term growth rate estimate. The forecasted cash flows for a longer term than this have been estimated by using an annual growth rate estimate of 2.0% which is based on an assumption of inflation growth. The terminal growth rate used is unchanged from 2022 impairment testing calculations. Pre-tax discount rates reflect specific risks relating to the relevant CGUs and the countries in which they operate. Management makes judgements regarding the development of assumptions other than WACC based on internal and external views of the industry\u2019s history and future. The weighted average costs of capital used as discount rates for the cash flow estimates are presented in the enclosed table: Used pre-tax discount rate % 2023 2022 Wine 8.2% 8.0% Spirits 8.6% 8.4% The estimated average operating margins used in the calculations are presented in the enclosed table: Projected average pre-tax operating result % 2023 2022 Wine 5.6% 9.5% Spirits 16.6% 13.2% Based on the analyses prepared by the Group, no reasonably possible change in any of the key assumptions would cause any of the tested unit\u2019s recoverable amount to decrease to be equal to its carrying amount. Impairment testing - Trademarks Equivalent impairment tests are made for trademarks with indefinite useful life and useful life of 50 years. The recoverable amount for trademarks is calculated on the basis of relief from royalty method after taxes whereby the brand\u2019s annual royalty rate is considered to be the expected long-term profit that the individual trademarks are expected to have. The forecast period applied for the calculations covers five years. The terminal value is based on an assumption of inflation growth of 2 percent. The terminal growth rate used is unchanged from 2022 impairment testing calculations. Cash flow estimates used are discounted using a post-tax discount rate specific for the country where each brand is predominantly sold. Used post-tax discount rate % 2023 2022 Norwegian Brands 7.3% 7.1% Danish Brands 6.5% 7.1% ",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForImpairmentOfAssetsExplanatory",
"language": "en",
"entity": "scheme:52990007AXNSS4PNX352",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"fact-372": {
"value": "Impairment testing Book value of assets are assessed to determine whether there is any impairment at least at the end of each financial year. If any evidence of impairment emerges (a triggering event), the assets\u2019 recoverable amount is estimated. The recoverable amount is the higher of an asset\u2019s or CGU\u2019s fair value less costs to sell and value in use. An impairment loss is recognised if the carrying amount of an asset exceeds its recoverable amount. The impairment loss is immediately recognised in profit or loss and the estimated useful life of the asset in question is reassessed when an impairment loss is recognised. The impairment loss is reversed if there has been such a positive change in the estimates used to determine the recoverable amount of the asset or cash-generating unit, that recoverable amount of the asset will increase the book value of asset. Impairment losses are only reversed to the extent that the asset\u2019s carrying amount does not exceed the carrying amount that would have been determined if no impairment loss had been recognised. An impairment loss on goodwill is never reversed. Critical estimates and management judgements \u2013 Impairment testing: The preparation of calculations for the impairment testing of goodwill requires estimates regarding the future. The management\u2019s estimates and related critical uncertainties are related to the components of the recoverable amount calculation, including the discount rate, budgets, the terminal growth rate and development of the net sales and operating result, including estimated cost levels of main raw materials and energy. The discount rates reflect current assessments of the time value of money and relevant market risk premiums reflecting risks and uncertainties for which the future cash flow estimates have not been adjusted The cash generating unit for impairment testing of marketing related intangible assets is the trademark itself. To determine the recoverable amount for these assets, future cash flows are calculated based on \u201crelief from royalty\u201d method after tax. Impairment testing of goodwill and intangible assets with indefinite useful life Allocation of goodwill Goodwill is allocated to groups of cash-generating units (CGU) that represent the level on which the management monitors the goodwill. The Group\u2019s three segments are considered to form the group of cash generating units (CGU) and represent the lowest level at which goodwill is monitored for internal management purposes. During 2023 there were no changes in the CGU structure. The allocation of goodwill to CGUs is as follows: EUR million 2023 % 2022 % Wine 105.4 34.6% 106.3 34.2% Spirits 198.9 65.4% 204.2 65.8% Total 304.3 100.0% 310.5 100.0% Impairment testing - Goodwill The key assumptions in goodwill impairment testing are operating result and discount rate. The goodwill allocated to the Group\u2019s cash-generating units is tested for impairment annually or when there is reason to assume that the carrying amount has exceeded the recoverable amount, with the carrying amount compared to the recoverable amount in the testing. The annual impairment tests have been carried out on 31 December 2023 and 31 October 2022. The cash flow estimates used are based on CGU-specific financial plans for the following year approved by the Group\u2019s Board of Directors. The forecast period applied for the calculations covers five years, beyond which the cash flow projections are extrapolated using a constant CGU specific long-term growth rate estimate. The forecasted cash flows for a longer term than this have been estimated by using an annual growth rate estimate of 2.0% which is based on an assumption of inflation growth. The terminal growth rate used is unchanged from 2022 impairment testing calculations. Pre-tax discount rates reflect specific risks relating to the relevant CGUs and the countries in which they operate. Management makes judgements regarding the development of assumptions other than WACC based on internal and external views of the industry\u2019s history and future. The weighted average costs of capital used as discount rates for the cash flow estimates are presented in the enclosed table: Used pre-tax discount rate % 2023 2022 Wine 8.2% 8.0% Spirits 8.6% 8.4% The estimated average operating margins used in the calculations are presented in the enclosed table: Projected average pre-tax operating result % 2023 2022 Wine 5.6% 9.5% Spirits 16.6% 13.2% Based on the analyses prepared by the Group, no reasonably possible change in any of the key assumptions would cause any of the tested unit\u2019s recoverable amount to decrease to be equal to its carrying amount. Impairment testing - Trademarks Equivalent impairment tests are made for trademarks with indefinite useful life and useful life of 50 years. The recoverable amount for trademarks is calculated on the basis of relief from royalty method after taxes whereby the brand\u2019s annual royalty rate is considered to be the expected long-term profit that the individual trademarks are expected to have. The forecast period applied for the calculations covers five years. The terminal value is based on an assumption of inflation growth of 2 percent. The terminal growth rate used is unchanged from 2022 impairment testing calculations. Cash flow estimates used are discounted using a post-tax discount rate specific for the country where each brand is predominantly sold. Used post-tax discount rate % 2023 2022 Norwegian Brands 7.3% 7.1% Danish Brands 6.5% 7.1% A significant proportion of the Group\u2019s trademarks are assessed not to have definite useful lives. These are not amortised on an ongoing basis but are solely subject to annual impairment testing. On initial recognition of trademarks, it is assessed whether the trademark is expected to have definite useful lives or not. In this assessment, the Group gives particular weight to Group\u2019s expected use of the trademark, the customary life cycles for trademarks of this type, the stability of the sector and the business, and the profitability that shall maintain the trademark\u2019s financial lifetime given the Group\u2019s ability to maintain value. The Group also devotes resources to legal control of trademarks in large and important markets. At the end of 2023, all of the Group\u2019s trademarks with indefinite useful lives were related to Spirits segment. The carrying amount of these assets amounted to EUR 128.3 million (2022: EUR 134.3 million). Most of the trademarks within Spirits business are trademarks that have existed for several decades, and some have existed for several hundred years. If impairment tests show declining curves over time, the trademark may be written down to higher of estimated value in use and fair value less costs to sell and a new assessment of the trademark\u2019s estimated useful live is performed. If it is estimated after a new assessment that the useful life is no longer indefinite, the trademark is redefined to have a definite useful life, whereby a straight line amortisation method is applied for the remaining book value over the remaining useful life.Impairment \u2013 Industrial Production Business
During 2023, the Group initiated a centre of excellence program
which resulted in production volume being moved from
the production facility in Norway to other production facilities
in Finland and Denmark. This move was a triggering event for
impairment testing of the Group\u2019s production facility at Gjeller\u00e5sen
in Norway, which is a part of the Group\u2019s Industrial segment.
The Industrial segment does not have any allocated goodwill or
intangible assets with indefinite useful life.
The largest asset of this production business is the Right-Of-Use
(ROU) asset related to the building premises at Gjeller\u00e5sen. This
ROU facility at Gjeller\u00e5sen is used by all business units in Norway.
The asset is allocated to the business units based on actual use of
the premises forming separate lease components. The main part
of the premises is used by the Industrial Production business and the Industrial Logistics business at Gjeller\u00e5sen. Less significant lease components are used by Wine and Spirits businesses at Gjeller\u00e5sen. In addition to this there are other assets used in production, such as ROU process and bottling machinery and equipment, owned process and bottling machinery and equipment as well as some owned software assets related to the production business. The Gjeller\u00e5sen Production business is as a separate cash generating unit as it has well-defined cash flows, with revenues stemming mainly from internal customers and an independent cost base corresponding to the bottling and process units at Gjeller\u00e5sen. A recoverable amount using value in use calculation was determined as at 31 December 2023 for the Gjeller\u00e5sen Production CGU. The calculated recoverable amount was negative due to loss making nature of the business. In addition, separate impairment assessments have been made for the individual assets within the CGU. Based on management judgement, the property lease component can be subleased, and therefore capable of independent cashflows. The fair value less cost of disposal (FVLCOD) was determined of the related ROU asset using income approach. The fair value measurement is classified as Level 3 of the fair value hierarchy due to some unobservable inputs used in the valuation. Main assumptions are estimated rent per square meter of NOK 1,200 with 2% annual inflation, start of sublease from 2025 for the remaining part of the lease agreement period until end of 2036, all operating expenses related to the premises covered by the new tenant, using an asset specific discount rate of 11.8% before tax. The resulting recoverable amount is EUR 11.1 million. All other machinery and equipment, both ROU and owned, have also been evaluated individually. The process and bottling equipment has in general been considered not to have any second hand market and therefore their FVLCOD was assessed as zero, while casks, vehicles and laboratory assets have been considered to have a fair value less cost of disposal at least corresponding to their book value. As a result of the above assessment, impairments related to the Gjeller\u00e5sen Production CGU was recorded at EUR 39.0 million, where EUR 28.0 million is related to ROU building, EUR 5.2 million related to ROU machinery & equipment, EUR 5.5 million related to owned machinery & equipment and EUR 0.3 million related to software. Impairment was allocated to the assets which do not generate independent cash flows in a way that their carrying amount was reduced to the highest of their FVLCOD (if measurable), their value in use (if determinable) and zero. Impairment \u2013 Industrial Logistics Business Vectura is the Group\u2019s Logistics business in Norway, which is also part of the Industrial Segment. This Logistics business has suffered from poor profitability during recent years. In addition, as noted above there was an impairment recorded for the production component of the Gjeller\u00e5sen property lease. This constitute indicators of impairment for the logistic lease component of the Gjeller\u00e5sen property as an individual asset and the Logistics business as a whole. The Right-Of-Use (ROU) asset related to the building premises at Gjeller\u00e5sen used by the Logistics business is the largest asset for the business. In addition to this there are other assets used in logistics operations, such as ROU logistics machinery and equipment, owned logistics machinery and equipment as well as some owned software assets related to the logistics business. The Gjeller\u00e5sen Logistics business is a separate cash generating unit as it is a separate legal company with well-defined cash flows, with revenues stemming mainly from internal customers and an independent cost base corresponding to the logistics from Gjeller\u00e5sen. A recoverable amount using value in use calculation was determined as at 31 December 2023 for the Gjeller\u00e5sen Logistics CGU. The calculated recoverable amount was EUR 15.3 million. The FVLCOD for the ROU asset related to the property lease component used by the logistics business was determined using the same valuation approach and the same key assumptions as the valuation of ROU asset related to the property lease component used by the Production business described above. The resulting recoverable amount is EUR 15.5 million. No other assets within the CGU are capable of generating independent cash flows. Impairment was allocated to these assets in a way that their carrying amount was reduced to the highest of their FVLCOD (if measurable), their value in use (if determinable) and zero. Total impairment related to the Gjeller\u00e5sen Logistics CGU was recorded at EUR 25.7 million, where EUR 21.7 million is related to ROU building, EUR 1.2 million related to ROU machinery & equipment, EUR 2.3 million related to owned machinery & equipment and EUR 0.5 million related to software. PROPERTY, PLANT AND EQUIPMENT EUR million Land and water areas Buildings and structures Machinery and equipment Prepayments and assets under construction Total Acquisition cost at 1 January 2023 3.0 114.4 185.5 8.8 311.7 Additions - 0.1 1.9 7.5 9.5 Disposals -0.5 -5.2 -25.7 -0.0 -31.4 Effect of movement in exchange rates - -0.0 -2.4 -0.3 -2.8 Transfers between items 0.0 2.1 7.2 -9.3 0.0 Acquisition cost at 31 December 2023 2.5 111.4 166.5 6.6 287.1 Accumulated depreciation and impairment losses at 1 January 2023 0.0 -93.9 -141.1 - -235.0 Depreciation - -2.3 -7.3 - -9.6 Impairment losses - - -8.3 -0.3 -8.6 Accumulated depreciation on disposals and transfers - 3.1 24.2 - 27.2 Effect of movement in exchange rates - 0.0 1.5 0.0 1.5 Accumulated depreciation and impairment losses at 31 December 2023 0.0 -93.2 -131.0 -0.3 -224.4 Carrying amount at 1 January 2022 3.0 20.5 44.4 8.8 76.7 CARRYING AMOUNT AT 31 DECEMBER 2023 2.5 18.3 35.5 6.4 62.7 Acquisition cost at 1 January 2022 3.0 113.4 177.5 5.3 299.3 Acquisition of subsidiaries - - 7.6 0.0 7.7 Additions 0.0 0.1 1.6 6.8 8.6 Disposals -0.0 -0.1 -0.8 -0.0 -0.9 Effect of movement in exchange rates - -0.0 -2.6 -0.2 -2.9 Transfers between items 0.0 1.0 2.1 -3.2 0.0 Acquisition cost at 31 December 2022 3.0 114.4 185.5 8.8 311.7 Accumulated depreciation and impairment losses at 1 January 2022 0.0 -91.4 -136.6 - -228.0 Depreciation - -2.6 -6.9 - -9.5 Accumulated depreciation on disposals and transfers - 0.0 0.6 - 0.6 Effect of movement in exchange rates - 0.0 1.8 - 1.8 Accumulated depreciation and impairment losses at 31 December 2022 0.0 -93.9 -141.1 - -235.0 Carrying amount at 1 January 2022 3.0 22.0 41.0 5.3 71.3 CARRYING AMOUNT AT 31 DECEMBER 2022 3.0 20.5 44.4 8.8 76.7 Impairment of Right-of-use assets
For details of impairment of right-of-use assets, see Note 2.2
regarding impairment of property, plant and equipment.
",
"dimensions": {
"concept": "ifrs-full:DisclosureOfImpairmentOfAssetsExplanatory",
"language": "en",
"entity": "scheme:52990007AXNSS4PNX352",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"fact-373": {
"value": "2.2 PROPERTY, PLANT AND EQUIPMENT Property, plant and equipment Property, plant and equipment mainly consist of manufacturing and warehouse buildings, land, and machinery and equipment used in alcoholic beverage industry. Property, plant and equipment are measured at historical cost less accumulated depreciation and possible impairment losses. If parts of an item of property, plant and equipment have different useful lives, they are accounted for as separate items. The subsequent costs related to the items of property, plant and equipment are capitalised only if the future economic benefits exceed the originally assessed standard of performance. All other expenditure, for example ordinary maintenance and repair costs, is recognised as an expense as incurred. Depreciation is recognised on a straight-line basis over the estimated useful lives of items of property, plant and equipment. Land is not depreciated. Government grants, for example grants received from the State, are recognised in profit or loss in the same period in which the related expenses are recognised. Grants that compensate the Group for the acquisition of property, plant and equipment are deducted from the carrying amount adjusted with the grant received. The estimated useful lives of property, plant and equipment are as follows: Buildings and structures 10\u201340 years Machinery and equipment 3\u201320 years Other tangible assets 3\u201310 years The estimated useful lives and residual values are reviewed at each financial year-end, and if they differ substantially from the previous estimates, the depreciation periods are adjusted accordingly. Impairment loss is recognised in profit or loss to the extent the assets carrying value exceeds its recoverable amount. Gains and losses on the disposals of property, plant and equipment are included in other operating income or expenses. Rajam\u00e4ki real estate is pledged as security for mortgages, see note 6.2. ",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForPropertyPlantAndEquipmentExplanatory",
"language": "en",
"entity": "scheme:52990007AXNSS4PNX352",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"fact-374": {
"value": "2.2 PROPERTY, PLANT AND EQUIPMENT Property, plant and equipment Property, plant and equipment mainly consist of manufacturing and warehouse buildings, land, and machinery and equipment used in alcoholic beverage industry. Property, plant and equipment are measured at historical cost less accumulated depreciation and possible impairment losses. If parts of an item of property, plant and equipment have different useful lives, they are accounted for as separate items. The subsequent costs related to the items of property, plant and equipment are capitalised only if the future economic benefits exceed the originally assessed standard of performance. All other expenditure, for example ordinary maintenance and repair costs, is recognised as an expense as incurred. Depreciation is recognised on a straight-line basis over the estimated useful lives of items of property, plant and equipment. Land is not depreciated. Government grants, for example grants received from the State, are recognised in profit or loss in the same period in which the related expenses are recognised. Grants that compensate the Group for the acquisition of property, plant and equipment are deducted from the carrying amount adjusted with the grant received. The estimated useful lives of property, plant and equipment are as follows: Buildings and structures 10\u201340 years Machinery and equipment 3\u201320 years Other tangible assets 3\u201310 years The estimated useful lives and residual values are reviewed at each financial year-end, and if they differ substantially from the previous estimates, the depreciation periods are adjusted accordingly. Impairment loss is recognised in profit or loss to the extent the assets carrying value exceeds its recoverable amount. Gains and losses on the disposals of property, plant and equipment are included in other operating income or expenses. Rajam\u00e4ki real estate is pledged as security for mortgages, see note 6.2. There are no material contractual commitments for acquisitions of property, plant and equipment. Critical estimates and management judgements \u2013 Property, plant and equipment: Estimation of useful life is most critical estimate related to property, plant and equipment . Impairment \u2013 Industrial Production Business During 2023, the Group initiated a centre of excellence program which resulted in production volume being moved from the production facility in Norway to other production facilities in Finland and Denmark. This move was a triggering event for impairment testing of the Group\u2019s production facility at Gjeller\u00e5sen in Norway, which is a part of the Group\u2019s Industrial segment. The Industrial segment does not have any allocated goodwill or intangible assets with indefinite useful life. The largest asset of this production business is the Right-Of-Use (ROU) asset related to the building premises at Gjeller\u00e5sen. This ROU facility at Gjeller\u00e5sen is used by all business units in Norway. The asset is allocated to the business units based on actual use of the premises forming separate lease components. The main partof the premises is used by the Industrial Production business and
the Industrial Logistics business at Gjeller\u00e5sen. Less significant lease
components are used by Wine and Spirits businesses at Gjeller\u00e5sen.
In addition to this there are other assets used in production, such
as ROU process and bottling machinery and equipment, owned
process and bottling machinery and equipment as well as some
owned software assets related to the production business.
The Gjeller\u00e5sen Production business is as a separate cash
generating unit as it has well-defined cash flows, with revenues
stemming mainly from internal customers and an independent cost
base corresponding to the bottling and process units at Gjeller\u00e5sen.
A recoverable amount using value in use calculation was determined
as at 31 December 2023 for the Gjeller\u00e5sen Production CGU. The
calculated recoverable amount was negative due to loss making
nature of the business.
In addition, separate impairment assessments have been made
for the individual assets within the CGU.
Based on management judgement, the property lease component
can be subleased, and therefore capable of independent cashflows.
The fair value less cost of disposal (FVLCOD) was determined
of the related ROU asset using income approach. The fair value
measurement is classified as Level 3 of the fair value hierarchy
due to some unobservable inputs used in the valuation. Main
assumptions are estimated rent per square meter of NOK 1,200 with
2% annual inflation, start of sublease from 2025 for the remaining
part of the lease agreement period until end of 2036, all operating
expenses related to the premises covered by the new tenant, using
an asset specific discount rate of 11.8% before tax. The resulting
recoverable amount is EUR 11.1 million.
All other machinery and equipment, both ROU and owned,
have also been evaluated individually. The process and bottling
equipment has in general been considered not to have any second
hand market and therefore their FVLCOD was assessed as zero,
while casks, vehicles and laboratory assets have been considered to
have a fair value less cost of disposal at least corresponding to their
book value.
As a result of the above assessment, impairments related to
the Gjeller\u00e5sen Production CGU was recorded at EUR 39.0 million,
where EUR 28.0 million is related to ROU building, EUR 5.2 million
related to ROU machinery & equipment, EUR 5.5 million related
to owned machinery & equipment and EUR 0.3 million related
to software. Impairment was allocated to the assets which do not
generate independent cash flows in a way that their carrying amount
was reduced to the highest of their FVLCOD (if measurable), their
value in use (if determinable) and zero.
Impairment \u2013 Industrial Logistics Business
Vectura is the Group\u2019s Logistics business in Norway, which is
also part of the Industrial Segment. This Logistics business has
suffered from poor profitability during recent years. In addition, as
noted above there was an impairment recorded for the production
component of the Gjeller\u00e5sen property lease. This constitute
indicators of impairment for the logistic lease component of
the Gjeller\u00e5sen property as an individual asset and the Logistics
business as a whole.
The Right-Of-Use (ROU) asset related to the building premises
at Gjeller\u00e5sen used by the Logistics business is the largest asset
for the business. In addition to this there are other assets used
in logistics operations, such as ROU logistics machinery and
equipment, owned logistics machinery and equipment as well as
some owned software assets related to the logistics business.
The Gjeller\u00e5sen Logistics business is a separate cash generating
unit as it is a separate legal company with well-defined cash
flows, with revenues stemming mainly from internal customers
and an independent cost base corresponding to the logistics from
Gjeller\u00e5sen. A recoverable amount using value in use calculation was
determined as at 31 December 2023 for the Gjeller\u00e5sen Logistics
CGU. The calculated recoverable amount was EUR 15.3 million.
The FVLCOD for the ROU asset related to the property lease
component used by the logistics business was determined using
the same valuation approach and the same key assumptions as
the valuation of ROU asset related to the property lease component
used by the Production business described above. The resulting
recoverable amount is EUR 15.5 million.
No other assets within the CGU are capable of generating
independent cash flows. Impairment was allocated to these assets in
a way that their carrying amount was reduced to the highest of their
FVLCOD (if measurable), their value in use (if determinable) and
zero.
Total impairment related to the Gjeller\u00e5sen Logistics CGU was
recorded at EUR 25.7 million, where EUR 21.7 million is related
to ROU building, EUR 1.2 million related to ROU machinery
& equipment, EUR 2.3 million related to owned machinery &
equipment and EUR 0.5 million related to software.
PROPERTY, PLANT AND EQUIPMENT
EUR million
Land and
water areas
Buildings and
structures
Machinery and
equipment
Prepayments and
assets under construction Total
Acquisition cost at 1 January 2023 3.0 114.4 185.5 8.8 311.7
Additions - 0.1 1.9 7.5 9.5
Disposals -0.5 -5.2 -25.7 -0.0 -31.4
Effect of movement in exchange rates - -0.0 -2.4 -0.3 -2.8
Transfers between items 0.0 2.1 7.2 -9.3 0.0
Acquisition cost at 31 December 2023 2.5 111.4 166.5 6.6 287.1
Accumulated depreciation and impairment losses at 1 January 2023 0.0 -93.9 -141.1 - -235.0
Depreciation - -2.3 -7.3 - -9.6
Impairment losses - - -8.3 -0.3 -8.6
Accumulated depreciation on disposals and transfers - 3.1 24.2 - 27.2
Effect of movement in exchange rates - 0.0 1.5 0.0 1.5
Accumulated depreciation and impairment losses at 31 December 2023 0.0 -93.2 -131.0 -0.3 -224.4
Carrying amount at 1 January 2022 3.0 20.5 44.4 8.8 76.7
CARRYING AMOUNT AT 31 DECEMBER 2023 2.5 18.3 35.5 6.4 62.7
Acquisition cost at 1 January 2022 3.0 113.4 177.5 5.3 299.3
Acquisition of subsidiaries - - 7.6 0.0 7.7
Additions 0.0 0.1 1.6 6.8 8.6
Disposals -0.0 -0.1 -0.8 -0.0 -0.9
Effect of movement in exchange rates - -0.0 -2.6 -0.2 -2.9
Transfers between items 0.0 1.0 2.1 -3.2 0.0
Acquisition cost at 31 December 2022 3.0 114.4 185.5 8.8 311.7
Accumulated depreciation and impairment losses at 1 January 2022 0.0 -91.4 -136.6 - -228.0
Depreciation - -2.6 -6.9 - -9.5
Accumulated depreciation on disposals and transfers - 0.0 0.6 - 0.6
Effect of movement in exchange rates - 0.0 1.8 - 1.8
Accumulated depreciation and impairment losses at 31 December 2022 0.0 -93.9 -141.1 - -235.0
Carrying amount at 1 January 2022 3.0 22.0 41.0 5.3 71.3
CARRYING AMOUNT AT 31 DECEMBER 2022 3.0 20.5 44.4 8.8 76.7
",
"dimensions": {
"concept": "ifrs-full:DisclosureOfPropertyPlantAndEquipmentExplanatory",
"language": "en",
"entity": "scheme:52990007AXNSS4PNX352",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"fact-375": {
"value": "The subsequent costs related to the items of property, plant and equipment are capitalised only if the future economic benefits exceed the originally assessed standard of performance. All other expenditure, for example ordinary maintenance and repair costs, is recognised as an expense as incurred.",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForRepairsAndMaintenanceExplanatory",
"language": "en",
"entity": "scheme:52990007AXNSS4PNX352",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"fact-376": {
"value": "Government grants, for example grants received from the State, are recognised in profit or loss in the same period in which the related expenses are recognised. Grants that compensate the Group for the acquisition of property, plant and equipment are deducted from the carrying amount adjusted with the grant received. ",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForGovernmentGrants",
"language": "en",
"entity": "scheme:52990007AXNSS4PNX352",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"fact-377": {
"value": "Government grants, for example grants received from the State, are recognised in profit or loss in the same period in which the related expenses are recognised. Grants that compensate the Group for the acquisition of property, plant and equipment are deducted from the carrying amount adjusted with the grant received",
"dimensions": {
"concept": "ifrs-full:DisclosureOfGovernmentGrantsExplanatory",
"language": "en",
"entity": "scheme:52990007AXNSS4PNX352",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"fact-378": {
"value": "2.3 RIGHT OF USE ASSETS Leases Lease is a contract, or a part of a contract that conveys the right to use an asset for a period of time in exchange for consideration. A contract contains a lease if there is an identified asset and the contract conveys the right to control the use of an identified asset for a period of time in exchange for consideration. A right-of-use asset and a lease liability is recognized at lease commencement date to reflect Anora\u2019s right to use the underlying asset and the unpaid future lease payments respectively. Anora mainly acts as the lessee. The Group\u2019s leases are related to normal business operations, such as leases on production, distribution and administration buildings, machine & equipment for production, vehicles, forklifts and office technology. The lease liability is measured by discounting the expected lease payments to the present value. Lease payments include fixed lease payments, expected payments related to residual value guarantees and the possible exercise price of the purchase option if the use of the option is reasonably certain. The lease period is the non-cancellable period of the lease. Any extension options are added to the lease period if it is reasonably certain that the Group will exercise such options. Lease payments are discounted at the internal rate of return of the lease if that rate can be readily determined. If an internal rate of return cannot be readily determined, the incremental borrowing rate is used as the discount rate. The criteria used to determine the discount rate includes the class of the underlying asset, geographical location, currency and the lessee\u2019s credit risk premium. The lease liability is remeasured and adjusted against the right of used asset if the cash flow in accordance with the original terms and conditions of lease changes; for example, if the lease period changes or if the lease payments change based on a variable index or interest rate. The lease liability is divided into current and non-current liability and is presented on a separate line on the balance sheet. Right-of-use assets are measured at acquisition cost based on the amount of the initial measurement of the lease liability less payments made at or before commencement date and lease incentives received, adding initial direct costs and adjusting by estimated dismantling or site restoration costs. Right-of-use assets are depreciated over the lease period or their useful lives, depending on which is shorter. Right-of-use assets related to land, buildings and other real estate are depreciated in 2\u201332 years and right-of-use assets related to machinery and equipment are depreciated in 2\u201315 years. Right-of-use assets related to tangible assets are presented on a separate line on the balance sheet. The IFRS 16 standard includes exemptions concerning leases of less than 12 months and low-value assets. Lease liabilities are not recognised for leases of less than 12 months and low-value assets . Anora considers assets with an acquisition cost of less than EUR 5,000 to be low-value. Lease expenses related to leases included in the exemptions are recognised in equal instalments over the lease period. Lease agreements include the agreement concluded with Destilleriveien 11 AS on the lease of production, distribution, and administration buildings at Gjeller\u00e5sen for an irrevocable period of 25 years as from 1 January 2012. The annual rent under this agreement is about 8,8 million euros as from 2024. The lease agreement of the premises at Gjeller\u00e5sen also include an option to extend the lease by 10 years after the initial 25 years. This option is currently considered not to be exercised and, therefore, it is not included in the calculation of Right-Of-Use asset and Lease liability at end of 2023 and 2022. Lease agreements also include the agreement concluded with Destilleri ApS on the lease of areas for a micro-distillery on the premises in Aalborg, Denmark where the Aalborg aquavit and Gammel Dansk Brands was historically produced. The agreement is irrevocable until October 2031, whereafter the agreement can be cancelled by Anora with 12 months\u2019 notice. The agreement is on the other hand non-cancellable by the landlord for another 18 years after October 2031. This date of cancellation by the landlord is estimated to be the end date of the lease which was used in calculating the Right-Of-Use asset and Lease liability at end of 2023 and 2022. On the relocation to Gjeller\u00e5sen in 2012, agreements were entered by former Arcus into for the lease of new machines and equipment for the production and distribution activities at Gjeller\u00e5sen. The contract partner for these agreements is Nordea Finans and agreements are subject to variable interest rates. These agreements run until 2027. Other lease agreements include lease agreements for office premises, other machinery and equipment, company cars, trucks, lorries in the logistics business and lease of various office machines. Critical estimates and management judgements \u2013 Right of use assets: The most critical management judgements are related to determination of discount rates and use of any possible extension options related to the lease contracts. Impairment of Right-of-use assets For details of impairment of right-of-use assets, see Note 2.2 regarding impairment of property, plant and equipmentRIGHT-OF-USE ASSETS
EUR million Buildings
Machinery
and
equipment Total
Acquisition cost at 1 January 2023 158.1 35.9 194.0
Additions 6.9 2.4 9.3
Disposals -21.0 -3.5 -24.5
Effect of movement in exchange rates -6.9 -1.9 -8.8
Acquisition cost at 31 December 2023 137.0 32.9 170.0
Accumulated depreciation at 1 January 2023 -35.2 -22.1 -57.2
Depreciation -9.7 -2.9 -12.6
Impairment losses -49.7 -6.4 -56.1
Accumulated depreciation on disposals 19.8 3.3 23.1
Effect of movement in exchange rates -0.3 1.0 0.7
Accumulated depreciation at 31 December 2023 -75.0 -27.1 -102.1
Carrying amount at 1 January 2023 122.9 13.9 136.8
CARRYING AMOUNT AT 31 DECEMBER 2023 62.1 5.8 67.9
EUR million Buildings
Machinery
and
equipment Total
Acquisition cost at 1 January 2022 136.5 37.0 173.4
Acquisitions of subsidiaries 18.1 0.6 18.7
Additions 10.8 0.8 11.5
Disposals -0.5 -0.7 -1.2
Effect of movement in exchange rates -6.7 -1.7 -8.4
Acquisition cost at 31 December 2022 158.1 35.9 194.0
Accumulated depreciation at 1 January 2022 -27.6 -20.2 -47.8
Depreciation -9.9 -3.3 -13.2
Accumulated depreciation on disposals 0.5 0.4 0.9
Effect of movement in exchange rates 1.8 1.0 2.8
Accumulated depreciation at 31 December 2022
-35.2 -22.1 -57.2
Carrying amount at 1 January 2022 108.9 16.8 125.7
CARRYING AMOUNT AT 31 DECEMBER 2022 122.9 13.9 136.8
",
"dimensions": {
"concept": "ifrs-full:DisclosureOfLeasesExplanatory",
"language": "en",
"entity": "scheme:52990007AXNSS4PNX352",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"fact-379": {
"value": "2.4 INVENTORIES Inventories Inventories are measured at the lower of cost and net realisable value. Self-manufactured products are measured at standard cost, where both fixed and variable production costs are allocated to the standard cost of the products produced based on different allocation keys. Raw materials, supplies and trading goods are measured at weighted average cost. Semi-finished products are measured at weighted average cost. Repacked trading goods are measured at standard cost in repacking plant. The standard cost used for self-manufactured products and repacked trading goods represents approximation of actual cost under weighted average cost formula. The cost of finished products and work in progress includes raw materials, direct labour costs, other direct costs as well as an allocable proportion of variable procurement and production costs and fixed overheads in case of finished products, determined based on normal operating capacity. Net realisable value is the estimated selling price in the ordinary course of business, less the estimated costs of completion and the estimated costs necessary to make the sale. INVENTORIES EUR million 2023 2022 Restated Materials and supplies 39.6 68.4 Work in progress 14.5 20.1 Finished goods 43.5 72.9 Trading goods 49.9 27.4 Other inventories 0.2 0.6 Total before obsolescence 147.7 189.3 Provision for obsolescence -3.5 -3.1 TOTAL 144.2 186.2 Inventory categories presented in 2022 Group\u2019s financial statements included a classification error related to initially incorrect classification of inventory of recently acquired Globus Wine AS. In addition, provision for obsolescence has been presented on a separate line compared to the note in the 2022 annual report. This error was corrected in 2023 financial statements, including comparatives (Materials and supplies EUR -13.8 million, Finished goods EUR 20.5 million, trading goods EUR -3.6 million, provision for obsolescence EUR -3.1 million). The error had no impact on presented figures in income statement, balance sheet or cash flows",
"dimensions": {
"concept": "ifrs-full:DisclosureOfInventoriesExplanatory",
"language": "en",
"entity": "scheme:52990007AXNSS4PNX352",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"fact-380": {
"value": "Inventories Inventories are measured at the lower of cost and net realisable value. Self-manufactured products are measured at standard cost, where both fixed and variable production costs are allocated to the standard cost of the products produced based on different allocation keys. Raw materials, supplies and trading goods are measured at weighted average cost. Semi-finished products are measured at weighted average cost. Repacked trading goods are measured at standard cost in repacking plant. The standard cost used for self-manufactured products and repacked trading goods represents approximation of actual cost under weighted average cost formula. The cost of finished products and work in progress includes raw materials, direct labour costs, other direct costs as well as an allocable proportion of variable procurement and production costs and fixed overheads in case of finished products, determined based on normal operating capacity. Net realisable value is the estimated selling price in the ordinary course of business, less the estimated costs of completion and the estimated costs necessary to make the sale. ",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForMeasuringInventories",
"language": "en",
"entity": "scheme:52990007AXNSS4PNX352",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"fact-381": {
"value": "2.5 TRADE AND OTHER RECEIVABLES Trade and other receivables Trade receivables are carried at original invoiced amount less any allowance for expected credit losses. An allowance for expected credit losses recognised immediately in profit and loss. Allowance for expected credit losses are recognised based on lifetime expected credit losses from trade receivables in accordance with IFRS 9. The expected credit loss model is forward looking and expected default rates are based on historical realised credit losses. The lifetime expected credit loss provision is calculated using aging of the accounts receivable and regional portfolios. Trade receivables are written off when there is no reasonable expectation of recovery for example the failure of a debtor to engage in a repayment plan with the Group. Sold trade receivables are derecognised from the balance sheet as soon as the receivable is sold and the payment has been received. At the time of sale, the Group derecognises the trade receivable as the contractual right to these cash flows expire and all the related substantial risks and rewards have been transferred outside the Group. The costs related to the sold receivables are recognised in Other finance expenses. TRADE AND OTHER RECEIVABLES EUR million 2023 2022 Trade receivables 96.3 227.3 Prepayments to customers/suppliers 3.4 6.3 Accrued income 6.2 4.0 Other receivables 4.2 4.3 TOTAL 110.1 241.9 At the end of the reporting period 2023 the sold trade receivables amounted to EUR 173.6 million (2022: EUR 59.4 million) Trade receivables from associated companies and joint arrangements are included in receivables from related parties, presented in Note 6.3AGEING ANALYSIS OF TRADE RECEIVABLES EUR million 2023 2022 Trade receivables not past due 85.6 213.8 Trade receivables past due 1\u201390 days 10.9 12.4 Trade receivables past due over 90 days 1.5 1.8 Impairment losses -1.7 -0.8 TOTAL 96.3 227.3 CHANGES OF IMPAIRMENT LOSSES EUR million 2023 2022 Expected credit losses at beginning of period -0.8 -0.9 Accruals for expected credit losses during period -1.0 0.0 Reversal of accruals for expected credit losses during period 0.1 0.4 Realized credit losses during period 0.0 -0.3 Translation differences 0.0 0.0 EXPECTED CREDIT LOSSES AT END OF PERIOD -1.7 -0.8 A significant share of the Group\u2019s revenue is associated with the state monopolies in the Nordic region, where there is not considered to be material credit risk. The Group\u2019s credit risk is otherwise spread over a large number of small customers within the Horeca market, industrial customers as well as a small number of distributors outside the home markets. On this basis, the Group applies a simplified approach to calculation of expected credit losses. The loss allowance for trade receivables is based on the ageing of the accounts receivables, regional portfolio and experienced historic credit losses. Forward looking macro-economic information has been included in analysis.",
"dimensions": {
"concept": "ifrs-full:DisclosureOfOtherCurrentAssetsExplanatory",
"language": "en",
"entity": "scheme:52990007AXNSS4PNX352",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"fact-382": {
"value": "2.5 TRADE AND OTHER RECEIVABLES Trade and other receivables Trade receivables are carried at original invoiced amount less any allowance for expected credit losses. An allowance for expected credit losses recognised immediately in profit and loss. Allowance for expected credit losses are recognised based on lifetime expected credit losses from trade receivables in accordance with IFRS 9. The expected credit loss model is forward looking and expected default rates are based on historical realised credit losses. The lifetime expected credit loss provision is calculated using aging of the accounts receivable and regional portfolios. Trade receivables are written off when there is no reasonable expectation of recovery for example the failure of a debtor to engage in a repayment plan with the Group. Sold trade receivables are derecognised from the balance sheet as soon as the receivable is sold and the payment has been received. At the time of sale, the Group derecognises the trade receivable as the contractual right to these cash flows expire and all the related substantial risks and rewards have been transferred outside the Group. The costs related to the sold receivables are recognised in Other finance expenses. TRADE AND OTHER RECEIVABLES EUR million 2023 2022 Trade receivables 96.3 227.3 Prepayments to customers/suppliers 3.4 6.3 Accrued income 6.2 4.0 Other receivables 4.2 4.3 TOTAL 110.1 241.9 At the end of the reporting period 2023 the sold trade receivables amounted to EUR 173.6 million (2022: EUR 59.4 million) . Trade receivables from associated companies and joint arrangements are included in receivables from related parties, presented in Note 6.3. AGEING ANALYSIS OF TRADE RECEIVABLES EUR million 2023 2022 Trade receivables not past due 85.6 213.8 Trade receivables past due 1\u201390 days 10.9 12.4 Trade receivables past due over 90 days 1.5 1.8 Impairment losses -1.7 -0.8 TOTAL 96.3 227.3 CHANGES OF IMPAIRMENT LOSSES EUR million 2023 2022 Expected credit losses at beginning of period -0.8 -0.9 Accruals for expected credit losses during period -1.0 0.0 Reversal of accruals for expected credit losses during period 0.1 0.4 Realized credit losses during period 0.0 -0.3 Translation differences 0.0 0.0 EXPECTED CREDIT LOSSES AT END OF PERIOD -1.7 -0.8 A significant share of the Group\u2019s revenue is associated with the state monopolies in the Nordic region, where there is not considered to be material credit risk. The Group\u2019s credit risk is otherwise spread over a large number of small customers within the Horeca market, industrial customers as well as a small number of distributors outside the home markets. On this basis, the Group applies a simplified approach to calculation of expected credit losses. The loss allowance for trade receivables is based on the ageing of the accounts receivables, regional portfolio and experienced historic credit losses. Forward looking macro-economic information has been included in analysis",
"dimensions": {
"concept": "ifrs-full:DisclosureOfTradeAndOtherReceivablesExplanatory",
"language": "en",
"entity": "scheme:52990007AXNSS4PNX352",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"fact-383": {
"value": "Trade and other receivables Trade receivables are carried at original invoiced amount less any allowance for expected credit losses. An allowance for expected credit losses recognised immediately in profit and loss. Allowance for expected credit losses are recognised based on lifetime expected credit losses from trade receivables in accordance with IFRS 9. The expected credit loss model is forward looking and expected default rates are based on historical realised credit losses. The lifetime expected credit loss provision is calculated using aging of the accounts receivable and regional portfolios. Trade receivables are written off when there is no reasonable expectation of recovery for example the failure of a debtor to engage in a repayment plan with the Group. Sold trade receivables are derecognised from the balance sheet as soon as the receivable is sold and the payment has been received. At the time of sale, the Group derecognises the trade receivable as the contractual right to these cash flows expire and all the related substantial risks and rewards have been transferred outside the Group. The costs related to the sold receivables are recognised in Other finance expenses. ",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForTradeAndOtherReceivablesExplanatory",
"language": "en",
"entity": "scheme:52990007AXNSS4PNX352",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"fact-384": {
"value": " An allowance for expected credit losses recognised immediately in profit and loss. Allowance for expected credit losses are recognised based on lifetime expected credit losses from trade receivables in accordance with IFRS 9. The expected credit loss model is forward looking and expected default rates are based on historical realised credit losses. The lifetime expected credit loss provision is calculated using aging of the accounts receivable and regional portfolios. Trade receivables are written off when there is no reasonable expectation of recovery for example the failure of a debtor to engage in a repayment plan with the Group. CHANGES OF IMPAIRMENT LOSSES EUR million 2023 2022 Expected credit losses at beginning of period -0.8 -0.9 Accruals for expected credit losses during period -1.0 0.0 Reversal of accruals for expected credit losses during period 0.1 0.4 Realized credit losses during period 0.0 -0.3 Translation differences 0.0 0.0 EXPECTED CREDIT LOSSES AT END OF PERIOD -1.7 -0.8 ",
"dimensions": {
"concept": "ifrs-full:DisclosureOfAllowanceForCreditLossesExplanatory",
"language": "en",
"entity": "scheme:52990007AXNSS4PNX352",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"fact-385": {
"value": "TRADE AND OTHER RECEIVABLES EUR million 2023 2022 Trade receivables 96.3 227.3 Prepayments to customers/suppliers 3.4 6.3 Accrued income 6.2 4.0 Other receivables 4.2 4.3 TOTAL 110.1 241.9 ",
"dimensions": {
"concept": "ifrs-full:DisclosureOfPrepaymentsAndOtherAssetsExplanatory",
"language": "en",
"entity": "scheme:52990007AXNSS4PNX352",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"fact-386": {
"value": "TRADE AND OTHER RECEIVABLES EUR million 2023 2022 Trade receivables 96.3 227.3 Prepayments to customers/suppliers 3.4 6.3 Accrued income 6.2 4.0 Other receivables 4.2 4.3 TOTAL 110.1 241.9 At the end of the reporting period 2023 the sold trade receivables amounted to EUR 173.6 million (2022: EUR 59.4 million) ",
"dimensions": {
"concept": "ifrs-full:DisclosureOfOtherAssetsExplanatory",
"language": "en",
"entity": "scheme:52990007AXNSS4PNX352",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"fact-387": {
"value": "2.7 TRADE AND OTHER PAYABLES EUR million 2023 2022 Restated Trade payables 96.6 103.5 Accruals for wages and salaries and social security contributions 13.2 13.3 Interest liabilities 0.2 0.2 Procurement expenses 10.6 12.5 Other accrued expenses 28.1 41.1 Excise tax 114.5 126.0 VAT liability 59.6 62.1 Other liabilities 6.8 5.7 TOTAL 329.6 364.4 The comparable figures for 2022 have been changed from the note in official annual report from 2022, to reflect updated categorisation of payables (Accruals for wages and salaries and social security contributions EUR 13.2 million, Procurement expenses EUR -3.5 million, Other accrued expenses EUR -0.8 million, Other liabilities -8.0 million). The change have had no impact on presented figures in income statement, balance sheet or cash flows .",
"dimensions": {
"concept": "ifrs-full:DisclosureOfTradeAndOtherPayablesExplanatory",
"language": "en",
"entity": "scheme:52990007AXNSS4PNX352",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"fact-388": {
"value": "2.7 TRADE AND OTHER PAYABLES EUR million 2023 2022 Restated Trade payables 96.6 103.5 Accruals for wages and salaries and social security contributions 13.2 13.3 Interest liabilities 0.2 0.2 Procurement expenses 10.6 12.5 Other accrued expenses 28.1 41.1 Excise tax 114.5 126.0 VAT liability 59.6 62.1 Other liabilities 6.8 5.7 TOTAL 329.6 364.4 The comparable figures for 2022 have been changed from the note in official annual report from 2022, to reflect updated categorisation of payables (Accruals for wages and salaries and social security contributions EUR 13.2 million, Procurement expenses EUR -3.5 million, Other accrued expenses EUR -0.8 million, Other liabilities -8.0 million). The change have had no impact on presented figures in income statement, balance sheet or cash flows BORROWINGS AND LEASE LIABILITIES EUR million 2023 2022 Non-current Loans from financial institutions 209.5 209.3 Loans from pension institutions 5.3 6.8 Lease liabilities 120.7 132.4 TOTAL 335.4 348.4 Current Loans from financial institutions 0.0 0.0 Loans from pension institutions 1.5 1.5 Commercial papers 0.0 30.0 Lease liabilities 13.3 12.4 TOTAL 14.8 43.9 Interest-bearing non-current loans from financial and pension institutions are measured at amortised cost using the effective interest method. All of the Group\u2019s non-current and current loans from financial and pension institutions were nominated in euro\u2019s as at 31 December 2023 and 31 December 2022. The weighted average effective interest rate (p.a.) of the Group\u2019s loans from financial and pension institutions as at 31 December 2023 was 5.7% (2022: 3.5%). The weighted average interest rate (p.a.) of the Group\u2019s lease liabilities as at 31 December 2023 was 3.7% (2022: 3.1%). In December 2022 Anora refinanced its loan portfolio and all existing loans from financial institutions were early repaid. Group\u2019s external bank loans were combined under the parent company and terms were unified. Company entered into an EUR 410 million term and revolving facilities agreement. It consists of EUR 260 million term loan and EUR 150 million revolving credit facilities. In December 2023 Anora exercised its first extension option in relation to its credit facilities agreement, thus extending the term loan and revolving credit facilities maturity by one year to December 2026 . ",
"dimensions": {
"concept": "ifrs-full:DisclosureOfOtherLiabilitiesExplanatory",
"language": "en",
"entity": "scheme:52990007AXNSS4PNX352",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"fact-389": {
"value": "2.7 TRADE AND OTHER PAYABLES EUR million 2023 2022 Restated Trade payables 96.6 103.5 Accruals for wages and salaries and social security contributions 13.2 13.3 Interest liabilities 0.2 0.2 Procurement expenses 10.6 12.5 Other accrued expenses 28.1 41.1 Excise tax 114.5 126.0 VAT liability 59.6 62.1 Other liabilities 6.8 5.7 TOTAL 329.6 364.4 ",
"dimensions": {
"concept": "ifrs-full:DisclosureOfOtherCurrentLiabilitiesExplanatory",
"language": "en",
"entity": "scheme:52990007AXNSS4PNX352",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"fact-390": {
"value": "2.7 TRADE AND OTHER PAYABLES EUR million 2023 2022 Restated Trade payables 96.6 103.5 Accruals for wages and salaries and social security contributions 13.2 13.3 Interest liabilities 0.2 0.2 Procurement expenses 10.6 12.5 Other accrued expenses 28.1 41.1 Excise tax 114.5 126.0 VAT liability 59.6 62.1 Other liabilities 6.8 5.7 TOTAL 329.6 364.4 The comparable figures for 2022 have been changed from the note in official annual report from 2022, to reflect updated categorisation of payables (Accruals for wages and salaries and social security contributions EUR 13.2 million, Procurement expenses EUR -3.5 million, Other accrued expenses EUR -0.8 million, Other liabilities -8.0 million). The change have had no impact on presented figures in income statement, balance sheet or cash flows ",
"dimensions": {
"concept": "ifrs-full:DisclosureOfAccruedExpensesAndOtherLiabilitiesExplanatory",
"language": "en",
"entity": "scheme:52990007AXNSS4PNX352",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"fact-391": {
"value": "2.8 PROVISIONS Provisions A provision is recognised when the Group has a present legal or constructive obligation as a result of a past event, and it is probable that an outflow of economic benefits will be required to settle the obligation and the amount of the obligation can be reliably estimated. The amount recognised as provision is the management\u2019s best estimate of the costs required to settle the existing obligation at the end of the reporting period. If part of the obligation may potentially be compensated by a third party, the compensation is recognised as a separate asset when it is virtually certain that the compensation will be received. A provision for restructuring costs is recognized only when general recognition criteria for provision are met and after management has prepared and approved a formal plan to which it is committed, and it has raised a valid expectation in those affected by the measures that it will carry out the restructuring by starting to implement that plan or announcing its main features. The costs included in a provision for restructuring are those costs that are either incremental or incurred as a direct result of the plan or are the result of a continuing contractual obligation with no continuing economic benefit to Anora or a penalty incurred to cancel the contractual obligation. At the end of 2023, the group has EUR 3.9 million of provision related to restructuring plans. The Group had no provisions at 31 December 2022. EUR million Opening Balance provisions Provisions made during 2023 Provisions reversed during 2023 Translation differences Amount in balance sheet 31.12.2023 Restructuring provisions 0.0 4.9 -1.1 0.1 3.9 TOTAL 0.0 4.9 -1.1 0.1 3.9",
"dimensions": {
"concept": "ifrs-full:DisclosureOfOtherProvisionsContingentLiabilitiesAndContingentAssetsExplanatory",
"language": "en",
"entity": "scheme:52990007AXNSS4PNX352",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"fact-392": {
"value": "2.8 PROVISIONS Provisions A provision is recognised when the Group has a present legal or constructive obligation as a result of a past event, and it is probable that an outflow of economic benefits will be required to settle the obligation and the amount of the obligation can be reliably estimated. The amount recognised as provision is the management\u2019s best estimate of the costs required to settle the existing obligation at the end of the reporting period. If part of the obligation may potentially be compensated by a third party, the compensation is recognised as a separate asset when it is virtually certain that the compensation will be received. A provision for restructuring costs is recognized only when general recognition criteria for provision are met and after management has prepared and approved a formal plan to which it is committed, and it has raised a valid expectation in those affected by the measures that it will carry out the restructuring by starting to implement that plan or announcing its main features. The costs included in a provision for restructuring are those costs that are either incremental or incurred as a direct result of the plan or are the result of a continuing contractual obligation with no continuing economic benefit to Anora or a penalty incurred to cancel the contractual obligation. At the end of 2023, the group has EUR 3.9 million of provision related to restructuring plans. The Group had no provisions at 31 December 2022. EUR million Opening Balance provisions Provisions made during 2023 Provisions reversed during 2023 Translation differences Amount in balance sheet 31.12.2023 Restructuring provisions 0.0 4.9 -1.1 0.1 3.9 TOTAL 0.0 4.9 -1.1 0.1 3.9",
"dimensions": {
"concept": "ifrs-full:DisclosureOfProvisionsExplanatory",
"language": "en",
"entity": "scheme:52990007AXNSS4PNX352",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"fact-393": {
"value": "Provisions A provision is recognised when the Group has a present legal or constructive obligation as a result of a past event, and it is probable that an outflow of economic benefits will be required to settle the obligation and the amount of the obligation can be reliably estimated. The amount recognised as provision is the management\u2019s best estimate of the costs required to settle the existing obligation at the end of the reporting period. If part of the obligation may potentially be compensated by a third party, the compensation is recognised as a separate asset when it is virtually certain that the compensation will be received. A provision for restructuring costs is recognized only when general recognition criteria for provision are met and after management has prepared and approved a formal plan to which it is committed, and it has raised a valid expectation in those affected by the measures that it will carry out the restructuring by starting to implement that plan or announcing its main features. The costs included in a provision for restructuring are those costs that are either incremental or incurred as a direct result of the plan or are the result of a continuing contractual obligation with no continuing economic benefit to Anora or a penalty incurred to cancel the contractual obligation",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForProvisionsExplanatory",
"language": "en",
"entity": "scheme:52990007AXNSS4PNX352",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"fact-394": {
"value": "3.1 FINANCE INCOME AND EXPENSES FINANCE INCOME EUR million 2023 2022 Interest income Loans, receivables and cash and cash equivalents 12.0 2.7 Total interest income 12.0 2.7 Foreign exchange gains Foreign exchange gains on FX-derivatives 4.8 0.0 Foreign exchange gains on I/C loans and cash pool accounts 8.0 2.3 Total foreign exchange gains 12.9 2.3 Dividend income Fair value through other comprehensive income 0.0 0.0 Total dividend income 0.0 0.0 Other financial income Other financial income -0.2 0.7 Total other financial income -0.2 0.7 TOTAL FINANCE INCOME 24.6 5.6 FINANCE EXPENSES EUR million 2023 2022 Interest expenses Financial liabilities at amortised cost -22.8 -6.4 Derivatives under hedge accounting (Interest rate risk) - -0.3 Interest expenses on lease liabilities -5.5 -5.0 Other interest expenses, pension liability 0.0 0.0 Total interest expenses -28.3 -11.7 Foreign exchange losses Foreign exchange losses on FX-derivatives -5.8 -0.5 Foreign exchange losses on I/C loans and cash pool accounts -8.6 -3.3 Total foreign exchange losses -14.4 -3.9 Other finance expenses Other financial expenses -4.7 -1.9 Total other finance expenses -4.7 -1.9 TOTAL FINANCE EXPENSES -47.4 -17.5 Foreign exchange difference arising from trade receivables and trade payables amounting to EUR 0.1 million (2022: EUR -0.7 million) and from currency derivatives amounting to EUR -0.8 million (2022: EUR 1.4 million) are included in operating result. ",
"dimensions": {
"concept": "ifrs-full:DisclosureOfFinanceIncomeExpenseExplanatory",
"language": "en",
"entity": "scheme:52990007AXNSS4PNX352",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"fact-395": {
"value": "3.1 FINANCE INCOME AND EXPENSES FINANCE INCOME EUR million 2023 2022 Interest income Loans, receivables and cash and cash equivalents 12.0 2.7 Total interest income 12.0 2.7 Foreign exchange gains Foreign exchange gains on FX-derivatives 4.8 0.0 Foreign exchange gains on I/C loans and cash pool accounts 8.0 2.3 Total foreign exchange gains 12.9 2.3 Dividend income Fair value through other comprehensive income 0.0 0.0 Total dividend income 0.0 0.0 Other financial income Other financial income -0.2 0.7 Total other financial income -0.2 0.7 TOTAL FINANCE INCOME 24.6 5.6 FINANCE EXPENSES EUR million 2023 2022 Interest expenses Financial liabilities at amortised cost -22.8 -6.4 Derivatives under hedge accounting (Interest rate risk) - -0.3 Interest expenses on lease liabilities -5.5 -5.0 Other interest expenses, pension liability 0.0 0.0 Total interest expenses -28.3 -11.7 Foreign exchange losses Foreign exchange losses on FX-derivatives -5.8 -0.5 Foreign exchange losses on I/C loans and cash pool accounts -8.6 -3.3 Total foreign exchange losses -14.4 -3.9 Other finance expenses Other financial expenses -4.7 -1.9 Total other finance expenses -4.7 -1.9 TOTAL FINANCE EXPENSES -47.4 -17.5 ",
"dimensions": {
"concept": "ifrs-full:DisclosureOfInterestIncomeExpenseExplanatory",
"language": "en",
"entity": "scheme:52990007AXNSS4PNX352",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"fact-396": {
"value": "FINANCE INCOME EUR million 2023 2022 Interest income Loans, receivables and cash and cash equivalents 12.0 2.7 Total interest income 12.0 2.7 Foreign exchange gains Foreign exchange gains on FX-derivatives 4.8 0.0 Foreign exchange gains on I/C loans and cash pool accounts 8.0 2.3 Total foreign exchange gains 12.9 2.3 Dividend income Fair value through other comprehensive income 0.0 0.0 Total dividend income 0.0 0.0 Other financial income Other financial income -0.2 0.7 Total other financial income -0.2 0.7 TOTAL FINANCE INCOME 24.6 5.6 ",
"dimensions": {
"concept": "ifrs-full:DisclosureOfInterestIncomeExplanatory",
"language": "en",
"entity": "scheme:52990007AXNSS4PNX352",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"fact-397": {
"value": "FINANCE INCOME EUR million 2023 2022 Interest income Loans, receivables and cash and cash equivalents 12.0 2.7 Total interest income 12.0 2.7 Foreign exchange gains Foreign exchange gains on FX-derivatives 4.8 0.0 Foreign exchange gains on I/C loans and cash pool accounts 8.0 2.3 Total foreign exchange gains 12.9 2.3 Dividend income Fair value through other comprehensive income 0.0 0.0 Total dividend income 0.0 0.0 Other financial income Other financial income -0.2 0.7 Total other financial income -0.2 0.7 TOTAL FINANCE INCOME 24.6 5.6 ",
"dimensions": {
"concept": "ifrs-full:DisclosureOfFinanceIncomeExplanatory",
"language": "en",
"entity": "scheme:52990007AXNSS4PNX352",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"fact-398": {
"value": "FINANCE EXPENSES EUR million 2023 2022 Interest expenses Financial liabilities at amortised cost -22.8 -6.4 Derivatives under hedge accounting (Interest rate risk) - -0.3 Interest expenses on lease liabilities -5.5 -5.0 Other interest expenses, pension liability 0.0 0.0 Total interest expenses -28.3 -11.7 Foreign exchange losses Foreign exchange losses on FX-derivatives -5.8 -0.5 Foreign exchange losses on I/C loans and cash pool accounts -8.6 -3.3 Total foreign exchange losses -14.4 -3.9 Other finance expenses Other financial expenses -4.7 -1.9 Total other finance expenses -4.7 -1.9 TOTAL FINANCE EXPENSES -47.4 -17.5 ",
"dimensions": {
"concept": "ifrs-full:DisclosureOfInterestExpenseExplanatory",
"language": "en",
"entity": "scheme:52990007AXNSS4PNX352",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"fact-399": {
"value": "FINANCE EXPENSES EUR million 2023 2022 Interest expenses Financial liabilities at amortised cost -22.8 -6.4 Derivatives under hedge accounting (Interest rate risk) - -0.3 Interest expenses on lease liabilities -5.5 -5.0 Other interest expenses, pension liability 0.0 0.0 Total interest expenses -28.3 -11.7 Foreign exchange losses Foreign exchange losses on FX-derivatives -5.8 -0.5 Foreign exchange losses on I/C loans and cash pool accounts -8.6 -3.3 Total foreign exchange losses -14.4 -3.9 Other finance expenses Other financial expenses -4.7 -1.9 Total other finance expenses -4.7 -1.9 TOTAL FINANCE EXPENSES -47.4 -17.5 ",
"dimensions": {
"concept": "ifrs-full:DisclosureOfFinanceCostExplanatory",
"language": "en",
"entity": "scheme:52990007AXNSS4PNX352",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"fact-400": {
"value": "FINANCE EXPENSES EUR million 2023 2022 Interest expenses Financial liabilities at amortised cost -22.8 -6.4 Derivatives under hedge accounting (Interest rate risk) - -0.3 Interest expenses on lease liabilities -5.5 -5.0 Other interest expenses, pension liability 0.0 0.0 Total interest expenses -28.3 -11.7 Foreign exchange losses Foreign exchange losses on FX-derivatives -5.8 -0.5 Foreign exchange losses on I/C loans and cash pool accounts -8.6 -3.3 Total foreign exchange losses -14.4 -3.9 Other finance expenses Other financial expenses -4.7 -1.9 Total other finance expenses -4.7 -1.9 TOTAL FINANCE EXPENSES -47.4 -17.5 ",
"dimensions": {
"concept": "ifrs-full:DisclosureOfBorrowingCostsExplanatory",
"language": "en",
"entity": "scheme:52990007AXNSS4PNX352",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"fact-401": {
"value": "Foreign exchange difference arising from trade receivables and trade payables amounting to EUR 0.1 million (2022: EUR -0.7 million) and from currency derivatives amounting to EUR -0.8 million (2022: EUR 1.4 million) are included in operating result1. Currency risk Anora is exposed to currency risks as it has operations in several different countries. The objective of the Group\u2019s currency risk management is to limit the effect of exchange rate fluctuations on the Group\u2019s cash flow in EUR. The most significant currencies are NOK, SEK, USD, AUD and DKK. Transaction risk Transaction risk is caused by foreign currency denominated items in the balance sheet and future cash flows related to sales, purchases and return of capital. Foreign exchange exposures are monitored at the Business level and future foreign currency cash flow risks of either sales or purchase contracts are hedged. The estimated future commercial exposures are evaluated by the Businesses, and the level of hedging is per Group Treasury Policy\u2019s mandate. Hedge accounting in accordance with IFRS 9 is applied to most of the hedges. Hedging transactions are executed with forward exchange contracts or options for the following 24 months at the most, predominantly following the pricing towards state monopolies in the Nordic region. In Finland this takes place every six months, in Norway every four months and in Sweden every six months. The two tables below present the Group\u2019s net currency position, first on the basis of financial instruments recorded on the balance sheet and secondly including on a net basis also the estimated future foreign currency net cash flows. The currency position resulting from the financial instruments in accordance with IFRS 7 consists of trade receivables, trade payables, cash and cash equivalents, the Group\u2019s internal and external loans and derivative instruments. The net currency risk has been taken into account in the table if the transaction currency is other than the Company\u2019s functional currency . TABLE 1: THE GROUP\u2019S NET CURRENCY POSITION AT 31 DECEMBER The net currency position resulting from the financial instruments in accordance with IFRS 7 EUR million 2023 2022 EUR-SEK -29.5 62.0 EUR-NOK -11.8 -0.8 EUR-USD 10.8 8.3 EUR-AUD 1.1 1.1 The Group\u2019s net currency position at 31 December including also the hedged commercial cash flows EUR million 2023 2022 EUR-SEK 7.0 124.2 EUR-NOK 31.2 58.2 EUR-USD -2.5 -18.0 EUR-AUD 0.1 -1.7 Translation risk Translation risk is mainly caused by the parent company\u2019s foreign currency denominated net investments in foreign subsidiaries, which cause a translation difference in equity in the Group\u2019s balance sheet upon consolidation. The Group Treasury regularly analyses the translation risk and reports any material issues to the management. The most significant net investments are denominated in SEK and NOK. The translation risk has not been hedged . ",
"dimensions": {
"concept": "ifrs-full:DisclosureOfEffectOfChangesInForeignExchangeRatesExplanatory",
"language": "en",
"entity": "scheme:52990007AXNSS4PNX352",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"fact-402": {
"value": "3.2 FINANCIAL ASSETS AND LIABILITIES 3.2.1 FINANCIAL ASSETS According to IFRS 9 the classification is business model driven and there are three classes: fair value through profit and loss, amortised cost and fair value through other comprehensive income. Classification is made upon initial recognition based on the purpose of use of the asset. The basis of classification is reassessed at each reporting date. All purchases and sales of financial instruments are recognised on the trade date, which is the date when the Group commits to purchase or sell a financial instrument. Financial assets are recognised in the balance sheet at original cost which equals their fair value at the acquisition date. If the asset in question is not measured at fair value through profit or loss, transaction costs are included in the original cost of the financial asset. The Group derecognises a financial asset when the contractual rights to the cash flows from the asset expire, or the Group transfers all the substantial risks and rewards related to the financial asset outside the Group. Financial assets are included in non-current items of the balance sheet when their maturity is over 12 months. Impairment of financial assets The impairment model requires the recognition of impairment provision based on expected credit losses. The allowance for credit losses is recognised based on lifetime expected credit losses from trade receivables and contract assets. More information on the allowance for credit losses on trade receivables can be found in Note 2.5. Trade and other receivables. The impairment model does not apply to financial assets measured at fair value since those are measured at fair value which already takes into account expected credit losses. Financial assets recognised at fair value through profit or loss This category includes financial assets held for trading purposes or otherwise designated as financial assets recognised at fair value through profit or loss by Anora Group. Sold receivables are classified in this category. Derivative instruments held for hedging purposes, but not qualifying for the criteria of hedge accounting, are classified in this category. Items in this category are initially recognised at fair value and subsequently measured at the fair value of each reporting date, which is the market bid price at the end of the reporting period determined based on public price quotations in active markets. Realised and unrealised gains and losses arising from changes in fair values are recognised in profit or loss in financial items in the period in which they are incurred if they relate to hedging of financial items. Amortised cost Loans and receivables arise when money, goods or services are delivered to a debtor, and they are included in current or non-current financial assets in accordance with their maturity. The assets in this category are held according to a business model of which objective is to collect contractual cash flows. In Anora, non-current receivables include loan receivables and other receivables with the maturity of over one year. Current receivables include trade receivables as well as cash and cash equivalents presented under current financial assets. Receivables are measured at amortised cost when the related payments are fixed or determinable and the instruments are not quoted in financial markets. The exchange rate differences of intra-group foreign currency denominated loan receivables are presented within financial items as foreign exchange differences related to loans. Fair value through other comprehensive income The assets measured at fair value through other comprehensive income consist of unquoted shares, that are not held for trading purposes and at initial recognition, the Group has made a final choice that they belong to this category. The changes in fair values are presented in other comprehensive income . 3.2.2 FINANCIAL LIABILITIES Financial liabilities are classified as financial liabilities at fair value through profit or loss and financial liabilities at amortised cost. Financial liabilities are initially measured at fair value and recognised net of transaction costs, with the exception of items measured at fair value through profit or loss. A financial liability (or a part of it) is not derecognised until the obligation specified in the contract is discharged or cancelled or expires. A financial liability is classified as current, unless the Group has an unconditional right to defer the settlement of the liability for at least 12 months after the end of the reporting period. Financial liabilities at fair value through profit or loss Financial liabilities at fair value through profit or loss include derivatives held for hedging purposes but not qualifying for hedge accounting and put options for the purchase of non- controlling interests. Derivatives held for hedging purposes but not qualifying for hedge accounting are measured at fair value, which is determined based on price quotations in active markets at the reporting date. Realised and unrealised gains or losses arising from the changes in fair values are recognised through profit or loss in the financial items as incurred. The liabilities related to options for the purchase of non-controlling interests are estimated on the basis of pricing mechanisms applied in the shareholder agreements . Financial liabilities at amortised cost This category includes the Group\u2019s external loans from financial institutions, loans from pension institutions, commercial paper loans as well as trade payables. These financial liabilities are measured at amortised cost using the effective interest method. When loans are paid off or refinanced, the related unamortised costs are recognised in finance expenses. Group overdrafts in use are included in current borrowings. In addition, Anora has a revolving credit facility and the related fee is amortised on a straight-line basis in other finance expenses during the term of the facility. The exchange rate differences arising from foreign currency denominated loans from financial institutions are disclosed under financial items. The exchange rate differences of intra- group foreign currency denominated loans are presented within financial items in the foreign exchange differences of the category financial liabilities at amortised cost. The fair values of loans from financial institutions and commercial paper loans are determined based on future cash flows discounted with market interest rate at the reporting date adjusted with Anora\u2019s credit risk premium. At the reporting date, the carrying amounts of the loans are not materially different from their book values LIABILITIES AT FAIR VALUE THROUGH PROFIT AND LOSS EUR million 2023 2022 Book value at the beginning of the period 0.6 1.3 Acquisition of subsidiares 0.0 0.0 Changes in value during period 0.1 -0.6 Interest during period 0.0 0.0 Translation differences 0.0 -0.1 Book value at the end of the period 0.8 0.6 Non-current liability 0.1 0.6 Current liability 0.6 0.0 Options for the purchase of non-controlling interests Within the Group\u2019s wines business, the general managers of several subsidiaries have non-controlling interests. Most of the general managers have put options linked to their interests and these options can be exercised on a future date. The Group does not have control of these shares at the end of period, nor does it have control of the possible exercising of the put options. The value of put options is therefore recognised as liabilities at fair value at the end of the year. The liabilities related to options for the purchase of non- controlling interests are estimated on the basis of pricing mechanisms applied in the shareholder agreements discounted for the close of the financial year. The most important parameters in the pricing mechanisms were the development in the share values, measured as EBIT (operating profit) up to the estimated due date, multiplied by a fixed market based multiple. As the basis for EBIT, the underlying companies\u2019 budgets and long-term plans up until the expected due date are used. The discount rate is NIBOR or STIBOR with duration matched to the expected due date . BORROWINGS AND LEASE LIABILITIES EUR million 2023 2022 Non-current Loans from financial institutions 209.5 209.3 Loans from pension institutions 5.3 6.8 Lease liabilities 120.7 132.4 TOTAL 335.4 348.4 Current Loans from financial institutions 0.0 0.0 Loans from pension institutions 1.5 1.5 Commercial papers 0.0 30.0 Lease liabilities 13.3 12.4 TOTAL 14.8 43.9 Interest-bearing non-current loans from financial and pension institutions are measured at amortised cost using the effective interest method. All of the Group\u2019s non-current and current loans from financial and pension institutions were nominated in euro\u2019s as at 31 December 2023 and 31 December 2022. The weighted average effective interest rate (p.a.) of the Group\u2019s loans from financial and pension institutions as at 31 December 2023 was 5.7% (2022: 3.5%). The weighted average interest rate (p.a.) of the Group\u2019s lease liabilities as at 31 December 2023 was 3.7% (2022: 3.1%). In December 2022 Anora refinanced its loan portfolio and all existing loans from financial institutions were early repaid. Group\u2019s external bank loans were combined under the parent company and terms were unified. Company entered into an EUR 410 million term and revolving facilities agreement. It consists of EUR 260 million term loan and EUR 150 million revolving credit facilities. In December 2023 Anora exercised its first extension option in relation to its credit facilities agreement, thus extending the term loan and revolving credit facilities maturity by one year to December 2026 . THE NET DEBT Movements in net debt the year ended 31 December 2023 and 2022 are presented in the following table: EUR million Cash and cash equivalents Loans from financial and pension institutions (non-current) Loans from financial and pension institutions (current) Lease liabilities (non-current) Lease liabilities (current) Total Net debt as at 1 January 2023 91.4 216.0 31.5 132.4 12.4 300.9 Cash flows 119.2 - -31.5 - -11.2 -161.9 Translation differences 2.2 - - -6.9 -0.5 -9.5 Other non-cash movement - -1.3 1.5 -4.8 12.5 7.9 NET DEBT AS AT 31 DECEMBER 2023 212.7 214.8 1.5 120.7 13.3 137.5 Net debt as at 1 January 2022 168.9 136.1 26.5 120.8 11.6 126.0 Cash flows -68.5 63.6 5.0 - -12.0 125.1 Translation differences -9.0 - - - - 9.0 Acquisitions of subsidiaries - 18.0 - 17.3 1.4 36.6 Other non-cash movement - -1.6 - -5.7 11.4 4.2 NET DEBT AS AT 31 DECEMBER 2022 91.4 216.0 31.5 132.4 12.4 300.9 Derivative instruments Derivatives are included in financial assets and liabilities at fair value through profit or loss when they do not meet the criteria of hedge accounting pursuant to IFRS 9. These derivatives are recognised at fair value on the trade date and they are subsequently measured at fair value at the reporting date. Derivative instruments and hedge accounting are described in Note 3.3. The fair values of derivatives equal the amount that the Group would have to pay, or it would receive from the termination of the derivative contract at the reporting date. The fair values of forward exchange contracts are determined by using the market prices at the reporting date. The fair values of interest rate derivatives are determined by discounting the related future cash flows. The valuation of commodity derivatives is determined based on the fair values received from the financial markets . 3.2.3 CLASSIFICATION AND FAIR VALUES OF FINANCIAL ASSETS AND LIABILITIES FAIR VALUES AND THE CARRYING AMOUNTS IN THE CONSOLIDATED BALANCE SHEET FOR EACH FINANCIAL INSTRUMENT BY CLASSES: 2023 EUR million Note Derivatives, hedge accounting Fair value through profit or loss Amortised cost Fair value through other comprehensive income Carrying amounts of items in the balance sheet Fair value Level Financial assets Non-current financial assets Unquoted shares 3.2.1. - - - 0.7 0.7 0.7 3 Other non-current receivables - - 0.0 - 0.0 0.0 Current financial assets Trade and other receivables 2.5. - - 96.3 - 96.3 96.3 Derivative instruments/Forward exchange contracts 0.0 -0.0 - - 0.0 0.0 2 Derivative instruments/Commodity derivatives 0.8 - - - 0.8 0.8 2 Cash and cash equivalents 4.1. - - 212.7 - 212.7 212.7 Assets held for sale - - 7.6 - 7.6 7.6 TOTAL 0.8 0.0 316.6 0.7 318.1 318.1 Financial liabilities Non-current financial liabilities Borrowings 3.2.2. - - 214.8 - 214.8 214.8 2 Lease liabilities 3.2.2. - - 120.7 - 120.7 120.7 2 Non-current liabilities at fair value through profit or loss - 0.1 - - 0.1 0.1 3 Other non-current liabilities - - 0.0 - 0.0 0.0 Current financial liabilities Borrowings 3.2.2. - - 1.5 - 1.5 1.5 2 Lease liabilities 3.2.2. - - 13.3 - 13.3 13.3 2 Current liabilities at fair value through profit or loss 3.2.2. - 0.6 - - 0.6 0.6 3 Trade and other payables 2.7. - - 96.6 - 96.6 96.6 Derivative instruments/Forward exchange contracts 2.7. 1.7 0.5 - - 2.2 2.2 2 TOTAL 1.7 1.3 446.8 0.0 449.8 449.8 2022 EUR million Note Derivatives, hedge accounting Fair value through profit or loss Amortised cost Fair value through other comprehensive income Carrying amounts of items in the balance sheet Fair value Level Financial assets Non-current financial assets Receivables from interests in joint operations - - 7.6 - 7.6 7.6 Unquoted shares 3.2.1. - - - 0.7 0.7 0.7 3 Other non-current receivables - - 0.0 - 0.0 0.0 Current financial assets Trade and other receivables 2.5. - - 229.7 - 229.7 229.7 Derivative instruments/Interest rate derivatives 0.0 - - - 0.0 0.0 2 Derivative instruments/Forward exchange contracts 0.8 0.1 - - 0.9 0.9 2 Derivative instruments/Commodity derivatives 5.4 - - - 5.4 5.4 Cash and cash equivalents 4.1. - - 91.4 - 91.4 91.4 TOTAL 6.2 0.1 328.7 0.7 335.7 335.7 Financial liabilities Non-current financial liabilities Borrowings 3.2.2. - - 216.0 - 216.0 216.0 2 Lease liabilities 3.2.2. - - 132.4 - 132.4 132.4 2 Non-current liabilities at fair value through profit or loss - 0.6 - - 0.6 0.6 3 Other non-current liabilities - - 0.0 - 0.0 0.0 Current financial liabilities Borrowings 3.2.2. - - 31.5 - 31.5 31.5 2 Lease liabilities 3.2.2. - - 12.4 - 12.4 12.4 2 Trade and other payables 2.7. - - 104.5 - 104.5 104.5 Derivative instruments/Interest rate derivatives 0.0 - - - 0.0 0.0 2 Derivative instruments/Forward exchange contracts 0.1 0.1 - - 0.2 0.2 2 TOTAL 0.1 0.7 496.9 - 497.7 497.7 on public quotations of identical financial instruments. In level two, the inputs used in determining the fair values are based on quoted market rates and prices observable for the asset or liability in question directly (i.e. price) or indirectly on discounted future cash flows. Fair values of other financial assets and liabilities in level two reflect their carrying value. In level three, the fair values of assets and liabilities are based on inputs that are not based on observable market data for all significant variables, and instead are, to a significant extent, based on management estimates and their use in generally accepted valuation techniques. The reported fair value level is based on the lowest level of input information that is significant in determining the fair value. At the reporting date due to short maturity fair value of trade receivables and other short-term receivables and liabilities equal to their value in the balance sheet. The table above presents the classification of financial instruments. The levels 1\u20133 of fair value hierarchy reflect the significance of inputs used in determining the fair values. In level one, fair values are based 3.3 DERIVATIVE INSTRUMENTS AND HEDGE ACCOUNTING When the Group applies IFRS 9 hedge accounting to foreign currency, interest rate and electricity derivatives, the effective portion of the fair value change is recognised in other comprehensive income and presented within equity in the hedge reserve. When hedge accounting is applied In Anora, cash flow hedging is applied to part of the interest rate, foreign currency and electricity derivatives based on case- by-case assessment. In cash flow hedging, the Group is hedging against changes in cash flows related to a specific asset or liability recognised in the balance sheet or to a highly probable future business transaction. Hedge accounting is a method of accounting with the purpose to allocate one or several hedging instruments so that their fair value changes offset in full or partly the changes in fair value or cash flow arising from the hedged risk in profit or loss during the period, for which the hedge is designated. In the beginning of the hedging arrangement, Anora documents the relationship between each hedging instrument and hedged item, as well as the objectives of risk management and the strategy in engaging in hedging. IFRS 9 requires that the effectiveness of hedging instruments is tested prospectively. Effectiveness means the ability of a hedging instrument to offset the changes in the fair value of the hedged item or changes in the cash flows of the hedged transaction attributable to the hedged risk. Under IFRS 9 the hedging relationship is regarded to be highly effective when there is an economic relationship between the hedged item and the hedging instrument. Hedging ratio is defined as a relationship between the quantity of the hedging instrument and the quantity of the hedged item. Hedge accounting is discontinued when the criteria for hedge accounting is no longer met. The gains and losses arising from fair value changes of derivative contracts, to which hedge accounting is applied, are presented in hedge reserve. Forward points are included to hedging relationship. The effective portion of the unrealised changes in the fair value of derivatives designated and qualifying as cash flow hedges are recognised in other comprehensive income and presented in the hedge reserve in equity. The ineffective portion is immediately recognised in finance income or expenses in profit or loss. The cumulative gain or loss in equity on derivative instruments related to commercial items is recognised in profit or loss as an adjustment to purchases or sales simultaneously with the hedged item in the period in which the hedged item affects profit or loss. Realised gain or loss on electricity derivatives is included in operating result in electricity procurement expenses. When a hedging instrument designated as a cash flow hedge no longer meets the criteria of hedge accounting, the gain or loss accumulated in equity is recognised through finance income or expenses. When hedge accounting is not applied The accounting for gains and losses arising from fair value measurement is dependent on the purpose of use of the derivative. In Anora, the changes in the fair values of derivative instruments are immediately recognised in profit or loss in finance income or expense if the derivative in question is related to hedging of commercial cash flows (purchases and sales) and hedge accounting is not applied. The fair value changes of other derivative instruments are immediately recognised in profit or loss in finance income or expense items if hedge accounting is not applied. Derivatives, to which hedge accounting is not applied, are acquired to minimise the profit and/or cash flow effects related to business operations or financing. NOMINAL VALUES OF DERIVATIVE INSTRUMENTS EUR million 2023 2022 Derivative instruments designated for cash flow hedging Interest rate derivatives - 20.0 Forward exchange contracts 64.1 24.1 Commodity derivatives, electricity 1.2 2.4 0.0TWh 0.1TWh Derivative instruments, non-hedge accounting Forward exchange contracts 39.3 5.6 The nominal values of derivative instruments are based on amounts and market prices at the reporting date . EFFECTS OF HEDGE ACCOUNTING ON THE FINANCIAL POSITION AND PERFORMANCE EUR million EURAUD EURGBP EURUSD EURNOK EURSEK USDDKK USDSEK Foreign currency forwards 2023 2022 2023 2022 2023 2022 2023 2022 2023 2022 2023 2022 2023 2022 Carrying amount (asset) 0.0 - - - - - - 0.0 - 0.3 - 0.5 - - Carrying amount (liability) - 0.0 0.0 - 0.0 0.1 0.5 0.0 1.0 - 0.1 - 0.1 - Notional amount 1.0 1.1 1.2 - 2.1 1.0 12.0 3.3 36.5 12.9 10.0 5.0 1.3 - Maturity date Feb\u2013Dec 2024 Feb\u2013Dec 2023 Feb\u2013Dec 2024 - Feb\u2013Dec 2024 Feb\u2013Dec 2023 Feb\u2013Dec 2024 Feb\u2013Dec 2023 Feb\u2013Dec 2024 Feb\u2013Dec 2023 Feb\u2013Dec 2024 Feb\u2013Dec 2023 Feb\u2013Aug 2024 - Hedge ratio 1:1 1:1 1:1 - 1:1 1:1 1:1 1:1 1:1 1:1 1:1 1:1 1:1 - Change in discounted value of outstanding hedging instruments since 1 January 0.0 -0.1 0.0 - 0.1 -0.1 -0.5 -0.1 -1.3 0.0 -0.7 0.5 -0.1 - Change in value of hedged item used to determine hedge effectiveness 0.0 0.1 0.0 - -0.1 0.1 0.5 0.1 1.3 0.0 0.7 -0.5 0.1 - Positive and negative fair values of unrealised derivatives and their net amount are presented below. Currency derivatives are under netting agreements. The master netting agreements in respect of derivatives do not meet the criteria for offsetting in the balance sheet owing to legally enforceable right not existing currently . OFFSETTING FINANCIAL ASSETS AND LIABILITIES EUR million 2023 2022 Derivative assets: Fair value, gross 0.8 6.4 Fair value, under netting agreements 0.0 -0.1 Fair value, net 0.8 6.3 Derivative liabilities: Fair value, gross 2.2 0.2 Fair value, under netting agreements 0.0 -0.1 Fair value, net 2.2 0.0 EUR million Interest rate swap 2023 2022 Carrying amount (asset) - 0.0 Carrying amount (liability) - - Notional amount - 20.0 Maturity date - 04/2023 Hedge ratio - 1:1 Change in discounted value of outstanding hedging instruments since 1 January - 0.6 Change in value of hedged item used to determine hedge effectiveness - -0.6 Weighted average hedged rate for the year - 0.0 EUR million Commodities - Electricity 2023 2022 Carrying amount (asset) 0.8 5.4 Notional amount 1.2 2.4 TWh 0.04 0.1 Maturity date 2024\u20132025 2023\u20132025 Hedge ratio 1:1 1:1 Change in discounted value of outstanding hedging instruments since 1 January -4.6 3.1 Change in value of hedged item used to determine hedge effectiveness 4.6 -3.1 Weighted average hedged price EUR/MWh 30.5 32.3 ",
"dimensions": {
"concept": "ifrs-full:DisclosureOfFinancialInstrumentsExplanatory",
"language": "en",
"entity": "scheme:52990007AXNSS4PNX352",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"fact-403": {
"value": "3.2 FINANCIAL ASSETS AND LIABILITIES 3.2.1 FINANCIAL ASSETS According to IFRS 9 the classification is business model driven and there are three classes: fair value through profit and loss, amortised cost and fair value through other comprehensive income. Classification is made upon initial recognition based on the purpose of use of the asset. The basis of classification is reassessed at each reporting date. All purchases and sales of financial instruments are recognised on the trade date, which is the date when the Group commits to purchase or sell a financial instrument. Financial assets are recognised in the balance sheet at original cost which equals their fair value at the acquisition date. If the asset in question is not measured at fair value through profit or loss, transaction costs are included in the original cost of the financial asset. The Group derecognises a financial asset when the contractual rights to the cash flows from the asset expire, or the Group transfers all the substantial risks and rewards related to the financial asset outside the Group. Financial assets are included in non-current items of the balance sheet when their maturity is over 12 months. Impairment of financial assets The impairment model requires the recognition of impairment provision based on expected credit losses. The allowance for credit losses is recognised based on lifetime expected credit losses from trade receivables and contract assets. More information on the allowance for credit losses on trade receivables can be found in Note 2.5. Trade and other receivables. The impairment model does not apply to financial assets measured at fair value since those are measured at fair value which already takes into account expected credit losses. Financial assets recognised at fair value through profit or loss This category includes financial assets held for trading purposes or otherwise designated as financial assets recognised at fair value through profit or loss by Anora Group. Sold receivables are classified in this category. Derivative instruments held for hedging purposes, but not qualifying for the criteria of hedge accounting, are classified in this category. Items in this category are initially recognised at fair value and subsequently measured at the fair value of each reporting date, which is the market bid price at the end of the reporting period determined based on public price quotations in active markets. Realised and unrealised gains and losses arising from changes in fair values are recognised in profit or loss in financial items in the period in which they are incurred if they relate to hedging of financial items. Amortised cost Loans and receivables arise when money, goods or services are delivered to a debtor, and they are included in current or non-current financial assets in accordance with their maturity. The assets in this category are held according to a business model of which objective is to collect contractual cash flows. In Anora, non-current receivables include loan receivables and other receivables with the maturity of over one year. Current receivables include trade receivables as well as cash and cash equivalents presented under current financial assets. Receivables are measured at amortised cost when the related payments are fixed or determinable and the instruments are not quoted in financial markets. The exchange rate differences of intra-group foreign currency denominated loan receivables are presented within financial items as foreign exchange differences related to loans. Fair value through other comprehensive income The assets measured at fair value through other comprehensive income consist of unquoted shares, that are not held for trading purposes and at initial recognition, the Group has made a final choice that they belong to this category. The changes in fair values are presented in other comprehensive income . 3.2.2 FINANCIAL LIABILITIES Financial liabilities are classified as financial liabilities at fair value through profit or loss and financial liabilities at amortised cost. Financial liabilities are initially measured at fair value and recognised net of transaction costs, with the exception of items measured at fair value through profit or loss. A financial liability (or a part of it) is not derecognised until the obligation specified in the contract is discharged or cancelled or expires. A financial liability is classified as current, unless the Group has an unconditional right to defer the settlement of the liability for at least 12 months after the end of the reporting period. Financial liabilities at fair value through profit or loss Financial liabilities at fair value through profit or loss include derivatives held for hedging purposes but not qualifying for hedge accounting and put options for the purchase of non- controlling interests. Derivatives held for hedging purposes but not qualifying for hedge accounting are measured at fair value, which is determined based on price quotations in active markets at the reporting date. Realised and unrealised gains or losses arising from the changes in fair values are recognised through profit or loss in the financial items as incurred. The liabilities related to options for the purchase of non-controlling interests are estimated on the basis of pricing mechanisms applied in the shareholder agreements . Financial liabilities at amortised cost This category includes the Group\u2019s external loans from financial institutions, loans from pension institutions, commercial paper loans as well as trade payables. These financial liabilities are measured at amortised cost using the effective interest method. When loans are paid off or refinanced, the related unamortised costs are recognised in finance expenses. Group overdrafts in use are included in current borrowings. In addition, Anora has a revolving credit facility and the related fee is amortised on a straight-line basis in other finance expenses during the term of the facility. The exchange rate differences arising from foreign currency denominated loans from financial institutions are disclosed under financial items. The exchange rate differences of intra- group foreign currency denominated loans are presented within financial items in the foreign exchange differences of the category financial liabilities at amortised cost. The fair values of loans from financial institutions and commercial paper loans are determined based on future cash flows discounted with market interest rate at the reporting date adjusted with Anora\u2019s credit risk premium. At the reporting date, the carrying amounts of the loans are not materially different from their book values . LIABILITIES AT FAIR VALUE THROUGH PROFIT AND LOSS EUR million 2023 2022 Book value at the beginning of the period 0.6 1.3 Acquisition of subsidiares 0.0 0.0 Changes in value during period 0.1 -0.6 Interest during period 0.0 0.0 Translation differences 0.0 -0.1 Book value at the end of the period 0.8 0.6 Non-current liability 0.1 0.6 Current liability 0.6 0.0 Options for the purchase of non-controlling interests Within the Group\u2019s wines business, the general managers of several subsidiaries have non-controlling interests. Most of the general managers have put options linked to their interests and these options can be exercised on a future date. The Group does not have control of these shares at the end of period, nor does it have control of the possible exercising of the put options. The value of put options is therefore recognised as liabilities at fair value at the end of the year. The liabilities related to options for the purchase of non- controlling interests are estimated on the basis of pricing mechanisms applied in the shareholder agreements discounted for the close of the financial year. The most important parameters in the pricing mechanisms were the development in the share values, measured as EBIT (operating profit) up to the estimated due date, multiplied by a fixed market based multiple. As the basis for EBIT, the underlying companies\u2019 budgets and long-term plans up until the expected due date are used. The discount rate is NIBOR or STIBOR with duration matched to the expected due date . BORROWINGS AND LEASE LIABILITIES EUR million 2023 2022 Non-current Loans from financial institutions 209.5 209.3 Loans from pension institutions 5.3 6.8 Lease liabilities 120.7 132.4 TOTAL 335.4 348.4 Current Loans from financial institutions 0.0 0.0 Loans from pension institutions 1.5 1.5 Commercial papers 0.0 30.0 Lease liabilities 13.3 12.4 TOTAL 14.8 43.9 Interest-bearing non-current loans from financial and pension institutions are measured at amortised cost using the effective interest method. All of the Group\u2019s non-current and current loans from financial and pension institutions were nominated in euro\u2019s as at 31 December 2023 and 31 December 2022. The weighted average effective interest rate (p.a.) of the Group\u2019s loans from financial and pension institutions as at 31 December 2023 was 5.7% (2022: 3.5%). The weighted average interest rate (p.a.) of the Group\u2019s lease liabilities as at 31 December 2023 was 3.7% (2022: 3.1%). In December 2022 Anora refinanced its loan portfolio and all existing loans from financial institutions were early repaid. Group\u2019s external bank loans were combined under the parent company and terms were unified. Company entered into an EUR 410 million term and revolving facilities agreement. It consists of EUR 260 million term loan and EUR 150 million revolving credit facilities. In December 2023 Anora exercised its first extension option in relation to its credit facilities agreement, thus extending the term loan and revolving credit facilities maturity by one year to December 2026 . THE NET DEBT Movements in net debt the year ended 31 December 2023 and 2022 are presented in the following table: EUR million Cash and cash equivalents Loans from financial and pension institutions (non-current) Loans from financial and pension institutions (current) Lease liabilities (non-current) Lease liabilities (current) Total Net debt as at 1 January 2023 91.4 216.0 31.5 132.4 12.4 300.9 Cash flows 119.2 - -31.5 - -11.2 -161.9 Translation differences 2.2 - - -6.9 -0.5 -9.5 Other non-cash movement - -1.3 1.5 -4.8 12.5 7.9 NET DEBT AS AT 31 DECEMBER 2023 212.7 214.8 1.5 120.7 13.3 137.5 Net debt as at 1 January 2022 168.9 136.1 26.5 120.8 11.6 126.0 Cash flows -68.5 63.6 5.0 - -12.0 125.1 Translation differences -9.0 - - - - 9.0 Acquisitions of subsidiaries - 18.0 - 17.3 1.4 36.6 Other non-cash movement - -1.6 - -5.7 11.4 4.2 NET DEBT AS AT 31 DECEMBER 2022 91.4 216.0 31.5 132.4 12.4 300.9 Derivative instruments Derivatives are included in financial assets and liabilities at fair value through profit or loss when they do not meet the criteria of hedge accounting pursuant to IFRS 9. These derivatives are recognised at fair value on the trade date and they are subsequently measured at fair value at the reporting date. Derivative instruments and hedge accounting are described in Note 3.3. The fair values of derivatives equal the amount that the Group would have to pay, or it would receive from the termination of the derivative contract at the reporting date. The fair values of forward exchange contracts are determined by using the market prices at the reporting date. The fair values of interest rate derivatives are determined by discounting the related future cash flows. The valuation of commodity derivatives is determined based on the fair values received from the financial markets . 3.2.3 CLASSIFICATION AND FAIR VALUES OF FINANCIAL ASSETS AND LIABILITIES FAIR VALUES AND THE CARRYING AMOUNTS IN THE CONSOLIDATED BALANCE SHEET FOR EACH FINANCIAL INSTRUMENT BY CLASSES: 2023 EUR million Note Derivatives, hedge accounting Fair value through profit or loss Amortised cost Fair value through other comprehensive income Carrying amounts of items in the balance sheet Fair value Level Financial assets Non-current financial assets Unquoted shares 3.2.1. - - - 0.7 0.7 0.7 3 Other non-current receivables - - 0.0 - 0.0 0.0 Current financial assets Trade and other receivables 2.5. - - 96.3 - 96.3 96.3 Derivative instruments/Forward exchange contracts 0.0 -0.0 - - 0.0 0.0 2 Derivative instruments/Commodity derivatives 0.8 - - - 0.8 0.8 2 Cash and cash equivalents 4.1. - - 212.7 - 212.7 212.7 Assets held for sale - - 7.6 - 7.6 7.6 TOTAL 0.8 0.0 316.6 0.7 318.1 318.1 Financial liabilities Non-current financial liabilities Borrowings 3.2.2. - - 214.8 - 214.8 214.8 2 Lease liabilities 3.2.2. - - 120.7 - 120.7 120.7 2 Non-current liabilities at fair value through profit or loss - 0.1 - - 0.1 0.1 3 Other non-current liabilities - - 0.0 - 0.0 0.0 Current financial liabilities Borrowings 3.2.2. - - 1.5 - 1.5 1.5 2 Lease liabilities 3.2.2. - - 13.3 - 13.3 13.3 2 Current liabilities at fair value through profit or loss 3.2.2. - 0.6 - - 0.6 0.6 3 Trade and other payables 2.7. - - 96.6 - 96.6 96.6 Derivative instruments/Forward exchange contracts 2.7. 1.7 0.5 - - 2.2 2.2 2 TOTAL 1.7 1.3 446.8 0.0 449.8 449.8 2022 EUR million Note Derivatives, hedge accounting Fair value through profit or loss Amortised cost Fair value through other comprehensive income Carrying amounts of items in the balance sheet Fair value Level Financial assets Non-current financial assets Receivables from interests in joint operations - - 7.6 - 7.6 7.6 Unquoted shares 3.2.1. - - - 0.7 0.7 0.7 3 Other non-current receivables - - 0.0 - 0.0 0.0 Current financial assets Trade and other receivables 2.5. - - 229.7 - 229.7 229.7 Derivative instruments/Interest rate derivatives 0.0 - - - 0.0 0.0 2 Derivative instruments/Forward exchange contracts 0.8 0.1 - - 0.9 0.9 2 Derivative instruments/Commodity derivatives 5.4 - - - 5.4 5.4 Cash and cash equivalents 4.1. - - 91.4 - 91.4 91.4 TOTAL 6.2 0.1 328.7 0.7 335.7 335.7 Financial liabilities Non-current financial liabilities Borrowings 3.2.2. - - 216.0 - 216.0 216.0 2 Lease liabilities 3.2.2. - - 132.4 - 132.4 132.4 2 Non-current liabilities at fair value through profit or loss - 0.6 - - 0.6 0.6 3 Other non-current liabilities - - 0.0 - 0.0 0.0 Current financial liabilities Borrowings 3.2.2. - - 31.5 - 31.5 31.5 2 Lease liabilities 3.2.2. - - 12.4 - 12.4 12.4 2 Trade and other payables 2.7. - - 104.5 - 104.5 104.5 Derivative instruments/Interest rate derivatives 0.0 - - - 0.0 0.0 2 Derivative instruments/Forward exchange contracts 0.1 0.1 - - 0.2 0.2 2 TOTAL 0.1 0.7 496.9 - 497.7 497.7 At the reporting date due to short maturity fair value of trade receivables and other short-term receivables and liabilities equal to their value in the balance sheet. The table above presents the classification of financial instruments. The levels 1\u20133 of fair value hierarchy reflect the significance of inputs used in determining the fair values. In level one, fair values are based on public quotations of identical financial instruments. In level two, the inputs used in determining the fair values are based on quoted market rates and prices observable for the asset or liability in question directly (i.e. price) or indirectly on discounted future cash flows. Fair values of other financial assets and liabilities in level two reflect their carrying value. In level three, the fair values of assets and liabilities are based on inputs that are not based on observable market data for all significant variables, and instead are, to a significant extent, based on management estimates and their use in generally accepted valuation techniques. The reported fair value level is based on the lowest level of input information that is significant in determining the fair value. ",
"dimensions": {
"concept": "ifrs-full:DisclosureOfFairValueOfFinancialInstrumentsExplanatory",
"language": "en",
"entity": "scheme:52990007AXNSS4PNX352",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"fact-404": {
"value": "According to IFRS 9 the classification is business model driven and there are three classes: fair value through profit and loss, amortised cost and fair value through other comprehensive income. Classification is made upon initial recognition based on the purpose of use of the asset. The basis of classification is reassessed at each reporting date. All purchases and sales of financial instruments are recognised on the trade date, which is the date when the Group commits to purchase or sell a financial instrument. Financial assets are recognised in the balance sheet at original cost which equals their fair value at the acquisition date. If the asset in question is not measured at fair value through profit or loss, transaction costs are included in the original cost of the financial asset. The Group derecognises a financial asset when the contractual rights to the cash flows from the asset expire, or the Group transfers all the substantial risks and rewards related to the financial asset outside the Group. Financial assets are included in non-current items of the balance sheet when their maturity is over 12 months. Impairment of financial assets The impairment model requires the recognition of impairment provision based on expected credit losses. The allowance for credit losses is recognised based on lifetime expected credit losses from trade receivables and contract assets. More information on the allowance for credit losses on trade receivables can be found in Note 2.5. Trade and other receivables. The impairment model does not apply to financial assets measured at fair value since those are measured at fair value which already takes into account expected credit losses. Financial assets recognised at fair value through profit or loss This category includes financial assets held for trading purposes or otherwise designated as financial assets recognised at fair value through profit or loss by Anora Group. Sold receivables are classified in this category. Derivative instruments held for hedging purposes, but not qualifying for the criteria of hedge accounting, are classified in this category. Items in this category are initially recognised at fair value and subsequently measured at the fair value of each reporting date, which is the market bid price at the end of the reporting period determined based on public price quotations in active markets. Realised and unrealised gains and losses arising from changes in fair values are recognised in profit or loss in financial items in the period in which they are incurred if they relate to hedging of financial items. Amortised cost Loans and receivables arise when money, goods or services are delivered to a debtor, and they are included in current or non-current financial assets in accordance with their maturity. The assets in this category are held according to a business model of which objective is to collect contractual cash flows. In Anora, non-current receivables include loan receivables and other receivables with the maturity of over one year. Current receivables include trade receivables as well as cash and cash equivalents presented under current financial assets. Receivables are measured at amortised cost when the related payments are fixed or determinable and the instruments are not quoted in financial markets. The exchange rate differences of intra-group foreign currency denominated loan receivables are presented within financial items as foreign exchange differences related to loans. Fair value through other comprehensive income The assets measured at fair value through other comprehensive income consist of unquoted shares, that are not held for trading purposes and at initial recognition, the Group has made a final choice that they belong to this category. The changes in fair values are presented in other comprehensive income ",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForFinancialAssetsExplanatory",
"language": "en",
"entity": "scheme:52990007AXNSS4PNX352",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"fact-405": {
"value": "According to IFRS 9 the classification is business model driven and there are three classes: fair value through profit and loss, amortised cost and fair value through other comprehensive income. Classification is made upon initial recognition based on the purpose of use of the asset. The basis of classification is reassessed at each reporting date. All purchases and sales of financial instruments are recognised on the trade date, which is the date when the Group commits to purchase or sell a financial instrument. Financial assets are recognised in the balance sheet at original cost which equals their fair value at the acquisition date. If the asset in question is not measured at fair value through profit or loss, transaction costs are included in the original cost of the financial asset. The Group derecognises a financial asset when the contractual rights to the cash flows from the asset expire, or the Group transfers all the substantial risks and rewards related to the financial asset outside the Group. Financial assets are included in non-current items of the balance sheet when their maturity is over 12 months",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForFinancialInstrumentsExplanatory",
"language": "en",
"entity": "scheme:52990007AXNSS4PNX352",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"fact-406": {
"value": "According to IFRS 9 the classification is business model driven and there are three classes: fair value through profit and loss, amortised cost and fair value through other comprehensive income. Classification is made upon initial recognition based on the purpose of use of the asset. The basis of classification is reassessed at each reporting date. All purchases and sales of financial instruments are recognised on the trade date, which is the date when the Group commits to purchase or sell a financial instrument. Financial assets are recognised in the balance sheet at original cost which equals their fair value at the acquisition date. If the asset in question is not measured at fair value through profit or loss, transaction costs are included in the original cost of the financial asset. The Group derecognises a financial asset when the contractual rights to the cash flows from the asset expire, or the Group transfers all the substantial risks and rewards related to the financial asset outside the Group. Financial assets are included in non-current items of the balance sheet when their maturity is over 12 months",
"dimensions": {
"concept": "ifrs-full:DisclosureOfReclassificationOfFinancialInstrumentsExplanatory",
"language": "en",
"entity": "scheme:52990007AXNSS4PNX352",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"fact-407": {
"value": "According to IFRS 9 the classification is business model driven and there are three classes: fair value through profit and loss, amortised cost and fair value through other comprehensive income. Classification is made upon initial recognition based on the purpose of use of the asset. The basis of classification is reassessed at each reporting date. All purchases and sales of financial instruments are recognised on the trade date, which is the date when the Group commits to purchase or sell a financial instrument. Financial assets are recognised in the balance sheet at original cost which equals their fair value at the acquisition date. If the asset in question is not measured at fair value through profit or loss, transaction costs are included in the original cost of the financial asset. The Group derecognises a financial asset when the contractual rights to the cash flows from the asset expire, or the Group transfers all the substantial risks and rewards related to the financial asset outside the Group. Financial assets are included in non-current items of the balance sheet when their maturity is over 12 months. ",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForReclassificationOfFinancialInstrumentsExplanatory",
"language": "en",
"entity": "scheme:52990007AXNSS4PNX352",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"fact-408": {
"value": "The Group derecognises a financial asset when the contractual rights to the cash flows from the asset expire, or the Group transfers all the substantial risks and rewards related to the financial asset outside the Group. Financial assets are included in non-current items of the balance sheet when their maturity is over 12 months",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForDerecognitionOfFinancialInstrumentsExplanatory",
"language": "en",
"entity": "scheme:52990007AXNSS4PNX352",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"fact-409": {
"value": "Impairment of financial assets The impairment model requires the recognition of impairment provision based on expected credit losses. The allowance for credit losses is recognised based on lifetime expected credit losses from trade receivables and contract assets. More information on the allowance for credit losses on trade receivables can be found in Note 2.5. Trade and other receivables. The impairment model does not apply to financial assets measured at fair value since those are measured at fair value which already takes into account expected credit losses. ",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForImpairmentOfFinancialAssetsExplanatory",
"language": "en",
"entity": "scheme:52990007AXNSS4PNX352",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"fact-410": {
"value": "Financial assets recognised at fair value through profit or loss This category includes financial assets held for trading purposes or otherwise designated as financial assets recognised at fair value through profit or loss by Anora Group. Sold receivables are classified in this category. Derivative instruments held for hedging purposes, but not qualifying for the criteria of hedge accounting, are classified in this category. Items in this category are initially recognised at fair value and subsequently measured at the fair value of each reporting date, which is the market bid price at the end of the reporting period determined based on public price quotations in active markets. Realised and unrealised gains and losses arising from changes in fair values are recognised in profit or loss in financial items in the period in which they are incurred if they relate to hedging of financial items. ",
"dimensions": {
"concept": "ifrs-full:DisclosureOfFinancialInstrumentsAtFairValueThroughProfitOrLossExplanatory",
"language": "en",
"entity": "scheme:52990007AXNSS4PNX352",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"fact-411": {
"value": "Financial assets recognised at fair value through profit or loss This category includes financial assets held for trading purposes or otherwise designated as financial assets recognised at fair value through profit or loss by Anora Group. Sold receivables are classified in this category. Derivative instruments held for hedging purposes, but not qualifying for the criteria of hedge accounting, are classified in this category. Items in this category are initially recognised at fair value and subsequently measured at the fair value of each reporting date, which is the market bid price at the end of the reporting period determined based on public price quotations in active markets. Realised and unrealised gains and losses arising from changes in fair values are recognised in profit or loss in financial items in the period in which they are incurred if they relate to hedging of financial items.",
"dimensions": {
"concept": "ifrs-full:DisclosureOfFinancialInstrumentsHeldForTradingExplanatory",
"language": "en",
"entity": "scheme:52990007AXNSS4PNX352",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"fact-412": {
"value": "Financial assets recognised at fair value through profit or loss This category includes financial assets held for trading purposes or otherwise designated as financial assets recognised at fair value through profit or loss by Anora Group. Sold receivables are classified in this category. Derivative instruments held for hedging purposes, but not qualifying for the criteria of hedge accounting, are classified in this category. Items in this category are initially recognised at fair value and subsequently measured at the fair value of each reporting date, which is the market bid price at the end of the reporting period determined based on public price quotations in active markets. Realised and unrealised gains and losses arising from changes in fair values are recognised in profit or loss in financial items in the period in which they are incurred if they relate to hedging of financial itemsFinancial liabilities at fair value through profit or loss Financial liabilities at fair value through profit or loss include derivatives held for hedging purposes but not qualifying for hedge accounting and put options for the purchase of non- controlling interests. Derivatives held for hedging purposes but not qualifying for hedge accounting are measured at fair value, which is determined based on price quotations in active markets at the reporting date. Realised and unrealised gains or losses arising from the changes in fair values are recognised through profit or loss in the financial items as incurred. The liabilities related to options for the purchase of non-controlling interests are estimated on the basis of pricing mechanisms applied in the shareholder agreements . LIABILITIES AT FAIR VALUE THROUGH PROFIT AND LOSS EUR million 2023 2022 Book value at the beginning of the period 0.6 1.3 Acquisition of subsidiares 0.0 0.0 Changes in value during period 0.1 -0.6 Interest during period 0.0 0.0 Translation differences 0.0 -0.1 Book value at the end of the period 0.8 0.6 Non-current liability 0.1 0.6 Current liability 0.6 0.0 ",
"dimensions": {
"concept": "ifrs-full:DisclosureOfFinancialInstrumentsDesignatedAtFairValueThroughProfitOrLossExplanatory",
"language": "en",
"entity": "scheme:52990007AXNSS4PNX352",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"fact-413": {
"value": "Amortised cost Loans and receivables arise when money, goods or services are delivered to a debtor, and they are included in current or non-current financial assets in accordance with their maturity. The assets in this category are held according to a business model of which objective is to collect contractual cash flows. In Anora, non-current receivables include loan receivables and other receivables with the maturity of over one year. Current receivables include trade receivables as well as cash and cash equivalents presented under current financial assets. Receivables are measured at amortised cost when the related payments are fixed or determinable and the instruments are not quoted in financial markets. The exchange rate differences of intra-group foreign currency denominated loan receivables are presented within financial items as foreign exchange differences related to loans. ",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForLoansAndReceivablesExplanatory",
"language": "en",
"entity": "scheme:52990007AXNSS4PNX352",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"fact-414": {
"value": "Amortised cost Loans and receivables arise when money, goods or services are delivered to a debtor, and they are included in current or non-current financial assets in accordance with their maturity. The assets in this category are held according to a business model of which objective is to collect contractual cash flows. In Anora, non-current receivables include loan receivables and other receivables with the maturity of over one year. Current receivables include trade receivables as well as cash and cash equivalents presented under current financial assets. Receivables are measured at amortised cost when the related payments are fixed or determinable and the instruments are not quoted in financial markets. The exchange rate differences of intra-group foreign currency denominated loan receivables are presented within financial items as foreign exchange differences related to loans",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyToDetermineComponentsOfCashAndCashEquivalents",
"language": "en",
"entity": "scheme:52990007AXNSS4PNX352",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"fact-415": {
"value": "3.2.2 FINANCIAL LIABILITIES Financial liabilities are classified as financial liabilities at fair value through profit or loss and financial liabilities at amortised cost. Financial liabilities are initially measured at fair value and recognised net of transaction costs, with the exception of items measured at fair value through profit or loss. A financial liability (or a part of it) is not derecognised until the obligation specified in the contract is discharged or cancelled or expires. A financial liability is classified as current, unless the Group has an unconditional right to defer the settlement of the liability for at least 12 months after the end of the reporting period. Financial liabilities at fair value through profit or loss Financial liabilities at fair value through profit or loss include derivatives held for hedging purposes but not qualifying for hedge accounting and put options for the purchase of non- controlling interests. Derivatives held for hedging purposes but not qualifying for hedge accounting are measured at fair value, which is determined based on price quotations in active markets at the reporting date. Realised and unrealised gains or losses arising from the changes in fair values are recognised through profit or loss in the financial items as incurred. The liabilities related to options for the purchase of non-controlling interests are estimated on the basis of pricing mechanisms applied in the shareholder agreements . Financial liabilities at amortised cost This category includes the Group\u2019s external loans from financial institutions, loans from pension institutions, commercial paper loans as well as trade payables. These financial liabilities are measured at amortised cost using the effective interest method. When loans are paid off or refinanced, the related unamortised costs are recognised in finance expenses. Group overdrafts in use are included in current borrowings. In addition, Anora has a revolving credit facility and the related fee is amortised on a straight-line basis in other finance expenses during the term of the facility. The exchange rate differences arising from foreign currency denominated loans from financial institutions are disclosed under financial items. The exchange rate differences of intra- group foreign currency denominated loans are presented within financial items in the foreign exchange differences of the category financial liabilities at amortised cost. The fair values of loans from financial institutions and commercial paper loans are determined based on future cash flows discounted with market interest rate at the reporting date adjusted with Anora\u2019s credit risk premium. At the reporting date, the carrying amounts of the loans are not materially different from their book values LIABILITIES AT FAIR VALUE THROUGH PROFIT AND LOSS EUR million 2023 2022 Book value at the beginning of the period 0.6 1.3 Acquisition of subsidiares 0.0 0.0 Changes in value during period 0.1 -0.6 Interest during period 0.0 0.0 Translation differences 0.0 -0.1 Book value at the end of the period 0.8 0.6 Non-current liability 0.1 0.6 Current liability 0.6 0.0 Options for the purchase of non-controlling interests Within the Group\u2019s wines business, the general managers of several subsidiaries have non-controlling interests. Most of the general managers have put options linked to their interests and these options can be exercised on a future date. The Group does not have control of these shares at the end of period, nor does it have control of the possible exercising of the put options. The value of put options is therefore recognised as liabilities at fair value at the end of the year. The liabilities related to options for the purchase of non- controlling interests are estimated on the basis of pricing mechanisms applied in the shareholder agreements discounted for the close of the financial year. The most important parameters in the pricing mechanisms were the development in the share values, measured as EBIT (operating profit) up to the estimated due date, multiplied by a fixed market based multiple. As the basis for EBIT, the underlying companies\u2019 budgets and long-term plans up until the expected due date are used. The discount rate is NIBOR or STIBOR with duration matched to the expected due date . BORROWINGS AND LEASE LIABILITIES EUR million 2023 2022 Non-current Loans from financial institutions 209.5 209.3 Loans from pension institutions 5.3 6.8 Lease liabilities 120.7 132.4 TOTAL 335.4 348.4 Current Loans from financial institutions 0.0 0.0 Loans from pension institutions 1.5 1.5 Commercial papers 0.0 30.0 Lease liabilities 13.3 12.4 TOTAL 14.8 43.9 Interest-bearing non-current loans from financial and pension institutions are measured at amortised cost using the effective interest method. All of the Group\u2019s non-current and current loans from financial and pension institutions were nominated in euro\u2019s as at 31 December 2023 and 31 December 2022. The weighted average effective interest rate (p.a.) of the Group\u2019s loans from financial and pension institutions as at 31 December 2023 was 5.7% (2022: 3.5%). The weighted average interest rate (p.a.) of the Group\u2019s lease liabilities as at 31 December 2023 was 3.7% (2022: 3.1%). In December 2022 Anora refinanced its loan portfolio and all existing loans from financial institutions were early repaid. Group\u2019s external bank loans were combined under the parent company and terms were unified. Company entered into an EUR 410 million term and revolving facilities agreement. It consists of EUR 260 million term loan and EUR 150 million revolving credit facilities. In December 2023 Anora exercised its first extension option in relation to its credit facilities agreement, thus extending the term loan and revolving credit facilities maturity by one year to December 2026 THE NET DEBT Movements in net debt the year ended 31 December 2023 and 2022 are presented in the following table: EUR million Cash and cash equivalents Loans from financial and pension institutions (non-current) Loans from financial and pension institutions (current) Lease liabilities (non-current) Lease liabilities (current) Total Net debt as at 1 January 2023 91.4 216.0 31.5 132.4 12.4 300.9 Cash flows 119.2 - -31.5 - -11.2 -161.9 Translation differences 2.2 - - -6.9 -0.5 -9.5 Other non-cash movement - -1.3 1.5 -4.8 12.5 7.9 NET DEBT AS AT 31 DECEMBER 2023 212.7 214.8 1.5 120.7 13.3 137.5 Net debt as at 1 January 2022 168.9 136.1 26.5 120.8 11.6 126.0 Cash flows -68.5 63.6 5.0 - -12.0 125.1 Translation differences -9.0 - - - - 9.0 Acquisitions of subsidiaries - 18.0 - 17.3 1.4 36.6 Other non-cash movement - -1.6 - -5.7 11.4 4.2 NET DEBT AS AT 31 DECEMBER 2022 91.4 216.0 31.5 132.4 12.4 300.9 ",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForBorrowingsExplanatory",
"language": "en",
"entity": "scheme:52990007AXNSS4PNX352",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"fact-416": {
"value": "3.2.2 FINANCIAL LIABILITIES Financial liabilities are classified as financial liabilities at fair value through profit or loss and financial liabilities at amortised cost. Financial liabilities are initially measured at fair value and recognised net of transaction costs, with the exception of items measured at fair value through profit or loss. A financial liability (or a part of it) is not derecognised until the obligation specified in the contract is discharged or cancelled or expires. A financial liability is classified as current, unless the Group has an unconditional right to defer the settlement of the liability for at least 12 months after the end of the reporting period. Financial liabilities at fair value through profit or loss Financial liabilities at fair value through profit or loss include derivatives held for hedging purposes but not qualifying for hedge accounting and put options for the purchase of non- controlling interests. Derivatives held for hedging purposes but not qualifying for hedge accounting are measured at fair value, which is determined based on price quotations in active markets at the reporting date. Realised and unrealised gains or losses arising from the changes in fair values are recognised through profit or loss in the financial items as incurred. The liabilities related to options for the purchase of non-controlling interests are estimated on the basis of pricing mechanisms applied in the shareholder agreements . Financial liabilities at amortised cost This category includes the Group\u2019s external loans from financial institutions, loans from pension institutions, commercial paper loans as well as trade payables. These financial liabilities are measured at amortised cost using the effective interest method. When loans are paid off or refinanced, the related unamortised costs are recognised in finance expenses. Group overdrafts in use are included in current borrowings. In addition, Anora has a revolving credit facility and the related fee is amortised on a straight-line basis in other finance expenses during the term of the facility. The exchange rate differences arising from foreign currency denominated loans from financial institutions are disclosed under financial items. The exchange rate differences of intra- group foreign currency denominated loans are presented within financial items in the foreign exchange differences of the category financial liabilities at amortised cost. The fair values of loans from financial institutions and commercial paper loans are determined based on future cash flows discounted with market interest rate at the reporting date adjusted with Anora\u2019s credit risk premium. At the reporting date, the carrying amounts of the loans are not materially different from their book values . LIABILITIES AT FAIR VALUE THROUGH PROFIT AND LOSS EUR million 2023 2022 Book value at the beginning of the period 0.6 1.3 Acquisition of subsidiares 0.0 0.0 Changes in value during period 0.1 -0.6 Interest during period 0.0 0.0 Translation differences 0.0 -0.1 Book value at the end of the period 0.8 0.6 Non-current liability 0.1 0.6 Current liability 0.6 0.0 Options for the purchase of non-controlling interests Within the Group\u2019s wines business, the general managers of several subsidiaries have non-controlling interests. Most of the general managers have put options linked to their interests and these options can be exercised on a future date. The Group does not have control of these shares at the end of period, nor does it have control of the possible exercising of the put options. The value of put options is therefore recognised as liabilities at fair value at the end of the year. The liabilities related to options for the purchase of non- controlling interests are estimated on the basis of pricing mechanisms applied in the shareholder agreements discounted for the close of the financial year. The most important parameters in the pricing mechanisms were the development in the share values, measured as EBIT (operating profit) up to the estimated due date, multiplied by a fixed market based multiple. As the basis for EBIT, the underlying companies\u2019 budgets and long-term plans up until the expected due date are used. The discount rate is NIBOR or STIBOR with duration matched to the expected due date BORROWINGS AND LEASE LIABILITIES EUR million 2023 2022 Non-current Loans from financial institutions 209.5 209.3 Loans from pension institutions 5.3 6.8 Lease liabilities 120.7 132.4 TOTAL 335.4 348.4 Current Loans from financial institutions 0.0 0.0 Loans from pension institutions 1.5 1.5 Commercial papers 0.0 30.0 Lease liabilities 13.3 12.4 TOTAL 14.8 43.9 Interest-bearing non-current loans from financial and pension institutions are measured at amortised cost using the effective interest method. All of the Group\u2019s non-current and current loans from financial and pension institutions were nominated in euro\u2019s as at 31 December 2023 and 31 December 2022. The weighted average effective interest rate (p.a.) of the Group\u2019s loans from financial and pension institutions as at 31 December 2023 was 5.7% (2022: 3.5%). The weighted average interest rate (p.a.) of the Group\u2019s lease liabilities as at 31 December 2023 was 3.7% (2022: 3.1%). In December 2022 Anora refinanced its loan portfolio and all existing loans from financial institutions were early repaid. Group\u2019s external bank loans were combined under the parent company and terms were unified. Company entered into an EUR 410 million term and revolving facilities agreement. It consists of EUR 260 million term loan and EUR 150 million revolving credit facilities. In December 2023 Anora exercised its first extension option in relation to its credit facilities agreement, thus extending the term loan and revolving credit facilities maturity by one year to December 2026 . THE NET DEBT Movements in net debt the year ended 31 December 2023 and 2022 are presented in the following table: EUR million Cash and cash equivalents Loans from financial and pension institutions (non-current) Loans from financial and pension institutions (current) Lease liabilities (non-current) Lease liabilities (current) Total Net debt as at 1 January 2023 91.4 216.0 31.5 132.4 12.4 300.9 Cash flows 119.2 - -31.5 - -11.2 -161.9 Translation differences 2.2 - - -6.9 -0.5 -9.5 Other non-cash movement - -1.3 1.5 -4.8 12.5 7.9 NET DEBT AS AT 31 DECEMBER 2023 212.7 214.8 1.5 120.7 13.3 137.5 Net debt as at 1 January 2022 168.9 136.1 26.5 120.8 11.6 126.0 Cash flows -68.5 63.6 5.0 - -12.0 125.1 Translation differences -9.0 - - - - 9.0 Acquisitions of subsidiaries - 18.0 - 17.3 1.4 36.6 Other non-cash movement - -1.6 - -5.7 11.4 4.2 NET DEBT AS AT 31 DECEMBER 2022 91.4 216.0 31.5 132.4 12.4 300.9 ",
"dimensions": {
"concept": "ifrs-full:DisclosureOfBorrowingsExplanatory",
"language": "en",
"entity": "scheme:52990007AXNSS4PNX352",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"fact-417": {
"value": "3.2.2 FINANCIAL LIABILITIES Financial liabilities are classified as financial liabilities at fair value through profit or loss and financial liabilities at amortised cost. Financial liabilities are initially measured at fair value and recognised net of transaction costs, with the exception of items measured at fair value through profit or loss. A financial liability (or a part of it) is not derecognised until the obligation specified in the contract is discharged or cancelled or expires. A financial liability is classified as current, unless the Group has an unconditional right to defer the settlement of the liability for at least 12 months after the end of the reporting period. Financial liabilities at fair value through profit or loss Financial liabilities at fair value through profit or loss include derivatives held for hedging purposes but not qualifying for hedge accounting and put options for the purchase of non- controlling interests. Derivatives held for hedging purposes but not qualifying for hedge accounting are measured at fair value, which is determined based on price quotations in active markets at the reporting date. Realised and unrealised gains or losses arising from the changes in fair values are recognised through profit or loss in the financial items as incurred. The liabilities related to options for the purchase of non-controlling interests are estimated on the basis of pricing mechanisms applied in the shareholder agreements . Financial liabilities at amortised cost This category includes the Group\u2019s external loans from financial institutions, loans from pension institutions, commercial paper loans as well as trade payables. These financial liabilities are measured at amortised cost using the effective interest method. When loans are paid off or refinanced, the related unamortised costs are recognised in finance expenses. Group overdrafts in use are included in current borrowings. In addition, Anora has a revolving credit facility and the related fee is amortised on a straight-line basis in other finance expenses during the term of the facility. The exchange rate differences arising from foreign currency denominated loans from financial institutions are disclosed under financial items. The exchange rate differences of intra- group foreign currency denominated loans are presented within financial items in the foreign exchange differences of the category financial liabilities at amortised cost. The fair values of loans from financial institutions and commercial paper loans are determined based on future cash flows discounted with market interest rate at the reporting date adjusted with Anora\u2019s credit risk premium. At the reporting date, the carrying amounts of the loans are not materially different from their book values . LIABILITIES AT FAIR VALUE THROUGH PROFIT AND LOSS EUR million 2023 2022 Book value at the beginning of the period 0.6 1.3 Acquisition of subsidiares 0.0 0.0 Changes in value during period 0.1 -0.6 Interest during period 0.0 0.0 Translation differences 0.0 -0.1 Book value at the end of the period 0.8 0.6 Non-current liability 0.1 0.6 Current liability 0.6 0.0 Options for the purchase of non-controlling interests Within the Group\u2019s wines business, the general managers of several subsidiaries have non-controlling interests. Most of the general managers have put options linked to their interests and these options can be exercised on a future date. The Group does not have control of these shares at the end of period, nor does it have control of the possible exercising of the put options. The value of put options is therefore recognised as liabilities at fair value at the end of the year. The liabilities related to options for the purchase of non- controlling interests are estimated on the basis of pricing mechanisms applied in the shareholder agreements discounted for the close of the financial year. The most important parameters in the pricing mechanisms were the development in the share values, measured as EBIT (operating profit) up to the estimated due date, multiplied by a fixed market based multiple. As the basis for EBIT, the underlying companies\u2019 budgets and long-term plans up until the expected due date are used. The discount rate is NIBOR or STIBOR with duration matched to the expected due date . BORROWINGS AND LEASE LIABILITIES EUR million 2023 2022 Non-current Loans from financial institutions 209.5 209.3 Loans from pension institutions 5.3 6.8 Lease liabilities 120.7 132.4 TOTAL 335.4 348.4 Current Loans from financial institutions 0.0 0.0 Loans from pension institutions 1.5 1.5 Commercial papers 0.0 30.0 Lease liabilities 13.3 12.4 TOTAL 14.8 43.9 Interest-bearing non-current loans from financial and pension institutions are measured at amortised cost using the effective interest method. All of the Group\u2019s non-current and current loans from financial and pension institutions were nominated in euro\u2019s as at 31 December 2023 and 31 December 2022. The weighted average effective interest rate (p.a.) of the Group\u2019s loans from financial and pension institutions as at 31 December 2023 was 5.7% (2022: 3.5%). The weighted average interest rate (p.a.) of the Group\u2019s lease liabilities as at 31 December 2023 was 3.7% (2022: 3.1%). In December 2022 Anora refinanced its loan portfolio and all existing loans from financial institutions were early repaid. Group\u2019s external bank loans were combined under the parent company and terms were unified. Company entered into an EUR 410 million term and revolving facilities agreement. It consists of EUR 260 million term loan and EUR 150 million revolving credit facilities. In December 2023 Anora exercised its first extension option in relation to its credit facilities agreement, thus extending the term loan and revolving credit facilities maturity by one year to December 2026 ",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForFinancialLiabilitiesExplanatory",
"language": "en",
"entity": "scheme:52990007AXNSS4PNX352",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"fact-418": {
"value": "Financial liabilities at fair value through profit or loss Financial liabilities at fair value through profit or loss include derivatives held for hedging purposes but not qualifying for hedge accounting and put options for the purchase of non- controlling interests. Derivatives held for hedging purposes but not qualifying for hedge accounting are measured at fair value, which is determined based on price quotations in active markets at the reporting date. Realised and unrealised gains or losses arising from the changes in fair values are recognised through profit or loss in the financial items as incurred. The liabilities related to options for the purchase of non-controlling interests are estimated on the basis of pricing mechanisms applied in the shareholder agreements LIABILITIES AT FAIR VALUE THROUGH PROFIT AND LOSS EUR million 2023 2022 Book value at the beginning of the period 0.6 1.3 Acquisition of subsidiares 0.0 0.0 Changes in value during period 0.1 -0.6 Interest during period 0.0 0.0 Translation differences 0.0 -0.1 Book value at the end of the period 0.8 0.6 Non-current liability 0.1 0.6 Current liability 0.6 0.0 Options for the purchase of non-controlling interests Within the Group\u2019s wines business, the general managers of several subsidiaries have non-controlling interests. Most of the general managers have put options linked to their interests and these options can be exercised on a future date. The Group does not have control of these shares at the end of period, nor does it have control of the possible exercising of the put options. The value of put options is therefore recognised as liabilities at fair value at the end of the year. The liabilities related to options for the purchase of non- controlling interests are estimated on the basis of pricing mechanisms applied in the shareholder agreements discounted for the close of the financial year. The most important parameters in the pricing mechanisms were the development in the share values, measured as EBIT (operating profit) up to the estimated due date, multiplied by a fixed market based multiple. As the basis for EBIT, the underlying companies\u2019 budgets and long-term plans up until the expected due date are used. The discount rate is NIBOR or STIBOR with duration matched to the expected due date ",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForFinancialInstrumentsAtFairValueThroughProfitOrLossExplanatory",
"language": "en",
"entity": "scheme:52990007AXNSS4PNX352",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"fact-419": {
"value": "Financial liabilities at amortised cost This category includes the Group\u2019s external loans from financial institutions, loans from pension institutions, commercial paper loans as well as trade payables. These financial liabilities are measured at amortised cost using the effective interest method",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForTradeAndOtherPayablesExplanatory",
"language": "en",
"entity": "scheme:52990007AXNSS4PNX352",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"fact-420": {
"value": "When loans are paid off or refinanced, the related unamortised costs are recognised in finance expenses.",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForBorrowingCostsExplanatory",
"language": "en",
"entity": "scheme:52990007AXNSS4PNX352",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"fact-421": {
"value": "Derivative instruments Derivatives are included in financial assets and liabilities at fair value through profit or loss when they do not meet the criteria of hedge accounting pursuant to IFRS 9. These derivatives are recognised at fair value on the trade date and they are subsequently measured at fair value at the reporting date. Derivative instruments and hedge accounting are described in Note 3.3. The fair values of derivatives equal the amount that the Group would have to pay, or it would receive from the termination of the derivative contract at the reporting date. The fair values of forward exchange contracts are determined by using the market prices at the reporting date. The fair values of interest rate derivatives are determined by discounting the related future cash flows. The valuation of commodity derivatives is determined based on the fair values received from the financial markets ",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForDerivativeFinancialInstrumentsAndHedgingExplanatory",
"language": "en",
"entity": "scheme:52990007AXNSS4PNX352",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"fact-422": {
"value": "Derivative instruments Derivatives are included in financial assets and liabilities at fair value through profit or loss when they do not meet the criteria of hedge accounting pursuant to IFRS 9. These derivatives are recognised at fair value on the trade date and they are subsequently measured at fair value at the reporting date. Derivative instruments and hedge accounting are described in Note 3.3. The fair values of derivatives equal the amount that the Group would have to pay, or it would receive from the termination of the derivative contract at the reporting date. The fair values of forward exchange contracts are determined by using the market prices at the reporting date. The fair values of interest rate derivatives are determined by discounting the related future cash flows. The valuation of commodity derivatives is determined based on the fair values received from the financial markets ",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForDerivativeFinancialInstrumentsExplanatory",
"language": "en",
"entity": "scheme:52990007AXNSS4PNX352",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"fact-423": {
"value": "Derivatives are included in financial assets and liabilities at fair value through profit or loss when they do not meet the criteria of hedge accounting pursuant to IFRS 9. These derivatives are recognised at fair value on the trade date and they are subsequently measured at fair value at the reporting date. Derivative instruments and hedge accounting are described in Note 3.3. The fair values of derivatives equal the amount that the Group would have to pay, or it would receive from the termination of the derivative contract at the reporting date. The fair values of forward exchange contracts are determined by using the market prices at the reporting date. The fair values of interest rate derivatives are determined by discounting the related future cash flows. The valuation of commodity derivatives is determined based on the fair values received from the financial markets 3.3 DERIVATIVE INSTRUMENTS AND HEDGE ACCOUNTING When the Group applies IFRS 9 hedge accounting to foreign currency, interest rate and electricity derivatives, the effective portion of the fair value change is recognised in other comprehensive income and presented within equity in the hedge reserve. When hedge accounting is applied In Anora, cash flow hedging is applied to part of the interest rate, foreign currency and electricity derivatives based on case- by-case assessment. In cash flow hedging, the Group is hedging against changes in cash flows related to a specific asset or liability recognised in the balance sheet or to a highly probable future business transaction. Hedge accounting is a method of accounting with the purpose to allocate one or several hedging instruments so that their fair value changes offset in full or partly the changes in fair value or cash flow arising from the hedged risk in profit or loss during the period, for which the hedge is designated. In the beginning of the hedging arrangement, Anora documents the relationship between each hedging instrument and hedged item, as well as the objectives of risk management and the strategy in engaging in hedging. IFRS 9 requires that the effectiveness of hedging instruments is tested prospectively. Effectiveness means the ability of a hedging instrument to offset the changes in the fair value of the hedged item or changes in the cash flows of the hedged transaction attributable to the hedged risk. Under IFRS 9 the hedging relationship is regarded to be highly effective when there is an economic relationship between the hedged item and the hedging instrument. Hedging ratio is defined as a relationship between the quantity of the hedging instrument and the quantity of the hedged item. Hedge accounting is discontinued when the criteria for hedge accounting is no longer met. The gains and losses arising from fair value changes of derivative contracts, to which hedge accounting is applied, are presented in hedge reserve. Forward points are included to hedging relationship. The effective portion of the unrealised changes in the fair value of derivatives designated and qualifying as cash flow hedges are recognised in other comprehensive income and presented in the hedge reserve in equity. The ineffective portion is immediately recognised in finance income or expenses in profit or loss. The cumulative gain or loss in equity on derivative instruments related to commercial items is recognised in profit or loss as an adjustment to purchases or sales simultaneously with the hedged item in the period in which the hedged item affects profit or loss. Realised gain or loss on electricity derivatives is included in operating result in electricity procurement expenses. When a hedging instrument designated as a cash flow hedge no longer meets the criteria of hedge accounting, the gain or loss accumulated in equity is recognised through finance income or expenses. When hedge accounting is not applied The accounting for gains and losses arising from fair value measurement is dependent on the purpose of use of the derivative. In Anora, the changes in the fair values of derivative instruments are immediately recognised in profit or loss in finance income or expense if the derivative in question is related to hedging of commercial cash flows (purchases and sales) and hedge accounting is not applied. The fair value changes of other derivative instruments are immediately recognised in profit or loss in finance income or expense items if hedge accounting is not applied. Derivatives, to which hedge accounting is not applied, are acquired to minimise the profit and/or cash flow effects related to business operations or financing. NOMINAL VALUES OF DERIVATIVE INSTRUMENTS EUR million 2023 2022 Derivative instruments designated for cash flow hedging Interest rate derivatives - 20.0 Forward exchange contracts 64.1 24.1 Commodity derivatives, electricity 1.2 2.4 0.0TWh 0.1TWh Derivative instruments, non-hedge accounting Forward exchange contracts 39.3 5.6 The nominal values of derivative instruments are based on amounts and market prices at the reporting date ",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForHedgingExplanatory",
"language": "en",
"entity": "scheme:52990007AXNSS4PNX352",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"fact-424": {
"value": "3.2.3 CLASSIFICATION AND FAIR VALUES OF FINANCIAL ASSETS AND LIABILITIES FAIR VALUES AND THE CARRYING AMOUNTS IN THE CONSOLIDATED BALANCE SHEET FOR EACH FINANCIAL INSTRUMENT BY CLASSES: 2023 EUR million Note Derivatives, hedge accounting Fair value through profit or loss Amortised cost Fair value through other comprehensive income Carrying amounts of items in the balance sheet Fair value Level Financial assets Non-current financial assets Unquoted shares 3.2.1. - - - 0.7 0.7 0.7 3 Other non-current receivables - - 0.0 - 0.0 0.0 Current financial assets Trade and other receivables 2.5. - - 96.3 - 96.3 96.3 Derivative instruments/Forward exchange contracts 0.0 -0.0 - - 0.0 0.0 2 Derivative instruments/Commodity derivatives 0.8 - - - 0.8 0.8 2 Cash and cash equivalents 4.1. - - 212.7 - 212.7 212.7 Assets held for sale - - 7.6 - 7.6 7.6 TOTAL 0.8 0.0 316.6 0.7 318.1 318.1 Financial liabilities Non-current financial liabilities Borrowings 3.2.2. - - 214.8 - 214.8 214.8 2 Lease liabilities 3.2.2. - - 120.7 - 120.7 120.7 2 Non-current liabilities at fair value through profit or loss - 0.1 - - 0.1 0.1 3 Other non-current liabilities - - 0.0 - 0.0 0.0 Current financial liabilities Borrowings 3.2.2. - - 1.5 - 1.5 1.5 2 Lease liabilities 3.2.2. - - 13.3 - 13.3 13.3 2 Current liabilities at fair value through profit or loss 3.2.2. - 0.6 - - 0.6 0.6 3 Trade and other payables 2.7. - - 96.6 - 96.6 96.6 Derivative instruments/Forward exchange contracts 2.7. 1.7 0.5 - - 2.2 2.2 2 TOTAL 1.7 1.3 446.8 0.0 449.8 449.8 2022 EUR million Note Derivatives, hedge accounting Fair value through profit or loss Amortised cost Fair value through other comprehensive income Carrying amounts of items in the balance sheet Fair value Level Financial assets Non-current financial assets Receivables from interests in joint operations - - 7.6 - 7.6 7.6 Unquoted shares 3.2.1. - - - 0.7 0.7 0.7 3 Other non-current receivables - - 0.0 - 0.0 0.0 Current financial assets Trade and other receivables 2.5. - - 229.7 - 229.7 229.7 Derivative instruments/Interest rate derivatives 0.0 - - - 0.0 0.0 2 Derivative instruments/Forward exchange contracts 0.8 0.1 - - 0.9 0.9 2 Derivative instruments/Commodity derivatives 5.4 - - - 5.4 5.4 Cash and cash equivalents 4.1. - - 91.4 - 91.4 91.4 TOTAL 6.2 0.1 328.7 0.7 335.7 335.7 Financial liabilities Non-current financial liabilities Borrowings 3.2.2. - - 216.0 - 216.0 216.0 2 Lease liabilities 3.2.2. - - 132.4 - 132.4 132.4 2 Non-current liabilities at fair value through profit or loss - 0.6 - - 0.6 0.6 3 Other non-current liabilities - - 0.0 - 0.0 0.0 Current financial liabilities Borrowings 3.2.2. - - 31.5 - 31.5 31.5 2 Lease liabilities 3.2.2. - - 12.4 - 12.4 12.4 2 Trade and other payables 2.7. - - 104.5 - 104.5 104.5 Derivative instruments/Interest rate derivatives 0.0 - - - 0.0 0.0 2 Derivative instruments/Forward exchange contracts 0.1 0.1 - - 0.2 0.2 2 TOTAL 0.1 0.7 496.9 - 497.7 497.7 ",
"dimensions": {
"concept": "ifrs-full:DisclosureOfFairValueMeasurementExplanatory",
"language": "en",
"entity": "scheme:52990007AXNSS4PNX352",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"fact-425": {
"value": "At the reporting date due to short maturity fair value of trade receivables and other short-term receivables and liabilities equal to their value in the balance sheet. The table above presents the classification of financial instruments. The levels 1\u20133 of fair value hierarchy reflect the significance of inputs used in determining the fair values. In level one, fair values are based on public quotations of identical financial instruments. In level two, the inputs used in determining the fair values are based on quoted market rates and prices observable for the asset or liability in question directly (i.e. price) or indirectly on discounted future cash flows. Fair values of other financial assets and liabilities in level two reflect their carrying value. In level three, the fair values of assets and liabilities are based on inputs that are not based on observable market data for all significant variables, and instead are, to a significant extent, based on management estimates and their use in generally accepted valuation techniques. The reported fair value level is based on the lowest level of input information that is significant in determining the fair value. ",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForFairValueMeasurementExplanatory",
"language": "en",
"entity": "scheme:52990007AXNSS4PNX352",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"fact-426": {
"value": "3.3 DERIVATIVE INSTRUMENTS AND HEDGE ACCOUNTING When the Group applies IFRS 9 hedge accounting to foreign currency, interest rate and electricity derivatives, the effective portion of the fair value change is recognised in other comprehensive income and presented within equity in the hedge reserve. When hedge accounting is applied In Anora, cash flow hedging is applied to part of the interest rate, foreign currency and electricity derivatives based on case- by-case assessment. In cash flow hedging, the Group is hedging against changes in cash flows related to a specific asset or liability recognised in the balance sheet or to a highly probable future business transaction. Hedge accounting is a method of accounting with the purpose to allocate one or several hedging instruments so that their fair value changes offset in full or partly the changes in fair value or cash flow arising from the hedged risk in profit or loss during the period, for which the hedge is designated. In the beginning of the hedging arrangement, Anora documents the relationship between each hedging instrument and hedged item, as well as the objectives of risk management and the strategy in engaging in hedging. IFRS 9 requires that the effectiveness of hedging instruments is tested prospectively. Effectiveness means the ability of a hedging instrument to offset the changes in the fair value of the hedged item or changes in the cash flows of the hedged transaction attributable to the hedged risk. Under IFRS 9 the hedging relationship is regarded to be highly effective when there is an economic relationship between the hedged item and the hedging instrument. Hedging ratio is defined as a relationship between the quantity of the hedging instrument and the quantity of the hedged item. Hedge accounting is discontinued when the criteria for hedge accounting is no longer met. The gains and losses arising from fair value changes of derivative contracts, to which hedge accounting is applied, are presented in hedge reserve. Forward points are included to hedging relationship. The effective portion of the unrealised changes in the fair value of derivatives designated and qualifying as cash flow hedges are recognised in other comprehensive income and presented in the hedge reserve in equity. The ineffective portion is immediately recognised in finance income or expenses in profit or loss. The cumulative gain or loss in equity on derivative instruments related to commercial items is recognised in profit or loss as an adjustment to purchases or sales simultaneously with the hedged item in the period in which the hedged item affects profit or loss. Realised gain or loss on electricity derivatives is included in operating result in electricity procurement expenses. When a hedging instrument designated as a cash flow hedge no longer meets the criteria of hedge accounting, the gain or loss accumulated in equity is recognised through finance income or expenses. When hedge accounting is not applied The accounting for gains and losses arising from fair value measurement is dependent on the purpose of use of the derivative. In Anora, the changes in the fair values of derivative instruments are immediately recognised in profit or loss in finance income or expense if the derivative in question is related to hedging of commercial cash flows (purchases and sales) and hedge accounting is not applied. The fair value changes of other derivative instruments are immediately recognised in profit or loss in finance income or expense items if hedge accounting is not applied. Derivatives, to which hedge accounting is not applied, are acquired to minimise the profit and/or cash flow effects related to business operations or financing. NOMINAL VALUES OF DERIVATIVE INSTRUMENTS EUR million 2023 2022 Derivative instruments designated for cash flow hedging Interest rate derivatives - 20.0 Forward exchange contracts 64.1 24.1 Commodity derivatives, electricity 1.2 2.4 0.0TWh 0.1TWh Derivative instruments, non-hedge accounting Forward exchange contracts 39.3 5.6 The nominal values of derivative instruments are based on amounts and market prices at the reporting date EFFECTS OF HEDGE ACCOUNTING ON THE FINANCIAL POSITION AND PERFORMANCE EUR million EURAUD EURGBP EURUSD EURNOK EURSEK USDDKK USDSEK Foreign currency forwards 2023 2022 2023 2022 2023 2022 2023 2022 2023 2022 2023 2022 2023 2022 Carrying amount (asset) 0.0 - - - - - - 0.0 - 0.3 - 0.5 - - Carrying amount (liability) - 0.0 0.0 - 0.0 0.1 0.5 0.0 1.0 - 0.1 - 0.1 - Notional amount 1.0 1.1 1.2 - 2.1 1.0 12.0 3.3 36.5 12.9 10.0 5.0 1.3 - Maturity date Feb\u2013Dec 2024 Feb\u2013Dec 2023 Feb\u2013Dec 2024 - Feb\u2013Dec 2024 Feb\u2013Dec 2023 Feb\u2013Dec 2024 Feb\u2013Dec 2023 Feb\u2013Dec 2024 Feb\u2013Dec 2023 Feb\u2013Dec 2024 Feb\u2013Dec 2023 Feb\u2013Aug 2024 - Hedge ratio 1:1 1:1 1:1 - 1:1 1:1 1:1 1:1 1:1 1:1 1:1 1:1 1:1 - Change in discounted value of outstanding hedging instruments since 1 January 0.0 -0.1 0.0 - 0.1 -0.1 -0.5 -0.1 -1.3 0.0 -0.7 0.5 -0.1 - Change in value of hedged item used to determine hedge effectiveness 0.0 0.1 0.0 - -0.1 0.1 0.5 0.1 1.3 0.0 0.7 -0.5 0.1 - Positive and negative fair values of unrealised derivatives and their net amount are presented below. Currency derivatives are under netting agreements. The master netting agreements in respect of derivatives do not meet the criteria for offsetting in the balance sheet owing to legally enforceable right not existing currently . OFFSETTING FINANCIAL ASSETS AND LIABILITIES EUR million 2023 2022 Derivative assets: Fair value, gross 0.8 6.4 Fair value, under netting agreements 0.0 -0.1 Fair value, net 0.8 6.3 Derivative liabilities: Fair value, gross 2.2 0.2 Fair value, under netting agreements 0.0 -0.1 Fair value, net 2.2 0.0 EUR million Interest rate swap 2023 2022 Carrying amount (asset) - 0.0 Carrying amount (liability) - - Notional amount - 20.0 Maturity date - 04/2023 Hedge ratio - 1:1 Change in discounted value of outstanding hedging instruments since 1 January - 0.6 Change in value of hedged item used to determine hedge effectiveness - -0.6 Weighted average hedged rate for the year - 0.0 EUR million Commodities - Electricity 2023 2022 Carrying amount (asset) 0.8 5.4 Notional amount 1.2 2.4 TWh 0.04 0.1 Maturity date 2024\u20132025 2023\u20132025 Hedge ratio 1:1 1:1 Change in discounted value of outstanding hedging instruments since 1 January -4.6 3.1 Change in value of hedged item used to determine hedge effectiveness 4.6 -3.1 Weighted average hedged price EUR/MWh 30.5 32.3 ",
"dimensions": {
"concept": "ifrs-full:DisclosureOfDerivativeFinancialInstrumentsExplanatory",
"language": "en",
"entity": "scheme:52990007AXNSS4PNX352",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"fact-427": {
"value": "3.3 DERIVATIVE INSTRUMENTS AND HEDGE ACCOUNTING When the Group applies IFRS 9 hedge accounting to foreign currency, interest rate and electricity derivatives, the effective portion of the fair value change is recognised in other comprehensive income and presented within equity in the hedge reserve. When hedge accounting is applied In Anora, cash flow hedging is applied to part of the interest rate, foreign currency and electricity derivatives based on case- by-case assessment. In cash flow hedging, the Group is hedging against changes in cash flows related to a specific asset or liability recognised in the balance sheet or to a highly probable future business transaction. Hedge accounting is a method of accounting with the purpose to allocate one or several hedging instruments so that their fair value changes offset in full or partly the changes in fair value or cash flow arising from the hedged risk in profit or loss during the period, for which the hedge is designated. In the beginning of the hedging arrangement, Anora documents the relationship between each hedging instrument and hedged item, as well as the objectives of risk management and the strategy in engaging in hedging. IFRS 9 requires that the effectiveness of hedging instruments is tested prospectively. Effectiveness means the ability of a hedging instrument to offset the changes in the fair value of the hedged item or changes in the cash flows of the hedged transaction attributable to the hedged risk. Under IFRS 9 the hedging relationship is regarded to be highly effective when there is an economic relationship between the hedged item and the hedging instrument. Hedging ratio is defined as a relationship between the quantity of the hedging instrument and the quantity of the hedged item. Hedge accounting is discontinued when the criteria for hedge accounting is no longer met. The gains and losses arising from fair value changes of derivative contracts, to which hedge accounting is applied, are presented in hedge reserve. Forward points are included to hedging relationship. The effective portion of the unrealised changes in the fair value of derivatives designated and qualifying as cash flow hedges are recognised in other comprehensive income and presented in the hedge reserve in equity. The ineffective portion is immediately recognised in finance income or expenses in profit or loss. The cumulative gain or loss in equity on derivative instruments related to commercial items is recognised in profit or loss as an adjustment to purchases or sales simultaneously with the hedged item in the period in which the hedged item affects profit or loss. Realised gain or loss on electricity derivatives is included in operating result in electricity procurement expenses. When a hedging instrument designated as a cash flow hedge no longer meets the criteria of hedge accounting, the gain or loss accumulated in equity is recognised through finance income or expenses. When hedge accounting is not applied The accounting for gains and losses arising from fair value measurement is dependent on the purpose of use of the derivative. In Anora, the changes in the fair values of derivative instruments are immediately recognised in profit or loss in finance income or expense if the derivative in question is related to hedging of commercial cash flows (purchases and sales) and hedge accounting is not applied. The fair value changes of other derivative instruments are immediately recognised in profit or loss in finance income or expense items if hedge accounting is not applied. Derivatives, to which hedge accounting is not applied, are acquired to minimise the profit and/or cash flow effects related to business operations or financing. NOMINAL VALUES OF DERIVATIVE INSTRUMENTS EUR million 2023 2022 Derivative instruments designated for cash flow hedging Interest rate derivatives - 20.0 Forward exchange contracts 64.1 24.1 Commodity derivatives, electricity 1.2 2.4 0.0TWh 0.1TWh Derivative instruments, non-hedge accounting Forward exchange contracts 39.3 5.6 The nominal values of derivative instruments are based on amounts and market prices at the reporting date . EFFECTS OF HEDGE ACCOUNTING ON THE FINANCIAL POSITION AND PERFORMANCE EUR million EURAUD EURGBP EURUSD EURNOK EURSEK USDDKK USDSEK Foreign currency forwards 2023 2022 2023 2022 2023 2022 2023 2022 2023 2022 2023 2022 2023 2022 Carrying amount (asset) 0.0 - - - - - - 0.0 - 0.3 - 0.5 - - Carrying amount (liability) - 0.0 0.0 - 0.0 0.1 0.5 0.0 1.0 - 0.1 - 0.1 - Notional amount 1.0 1.1 1.2 - 2.1 1.0 12.0 3.3 36.5 12.9 10.0 5.0 1.3 - Maturity date Feb\u2013Dec 2024 Feb\u2013Dec 2023 Feb\u2013Dec 2024 - Feb\u2013Dec 2024 Feb\u2013Dec 2023 Feb\u2013Dec 2024 Feb\u2013Dec 2023 Feb\u2013Dec 2024 Feb\u2013Dec 2023 Feb\u2013Dec 2024 Feb\u2013Dec 2023 Feb\u2013Aug 2024 - Hedge ratio 1:1 1:1 1:1 - 1:1 1:1 1:1 1:1 1:1 1:1 1:1 1:1 1:1 - Change in discounted value of outstanding hedging instruments since 1 January 0.0 -0.1 0.0 - 0.1 -0.1 -0.5 -0.1 -1.3 0.0 -0.7 0.5 -0.1 - Change in value of hedged item used to determine hedge effectiveness 0.0 0.1 0.0 - -0.1 0.1 0.5 0.1 1.3 0.0 0.7 -0.5 0.1 - Positive and negative fair values of unrealised derivatives and their net amount are presented below. Currency derivatives are under netting agreements. The master netting agreements in respect of derivatives do not meet the criteria for offsetting in the balance sheet owing to legally enforceable right not existing currently . OFFSETTING FINANCIAL ASSETS AND LIABILITIES EUR million 2023 2022 Derivative assets: Fair value, gross 0.8 6.4 Fair value, under netting agreements 0.0 -0.1 Fair value, net 0.8 6.3 Derivative liabilities: Fair value, gross 2.2 0.2 Fair value, under netting agreements 0.0 -0.1 Fair value, net 2.2 0.0 EUR million Interest rate swap 2023 2022 Carrying amount (asset) - 0.0 Carrying amount (liability) - - Notional amount - 20.0 Maturity date - 04/2023 Hedge ratio - 1:1 Change in discounted value of outstanding hedging instruments since 1 January - 0.6 Change in value of hedged item used to determine hedge effectiveness - -0.6 Weighted average hedged rate for the year - 0.0 EUR million Commodities - Electricity 2023 2022 Carrying amount (asset) 0.8 5.4 Notional amount 1.2 2.4 TWh 0.04 0.1 Maturity date 2024\u20132025 2023\u20132025 Hedge ratio 1:1 1:1 Change in discounted value of outstanding hedging instruments since 1 January -4.6 3.1 Change in value of hedged item used to determine hedge effectiveness 4.6 -3.1 Weighted average hedged price EUR/MWh 30.5 32.3 CASH FLOW HEDGE RESERVE EUR million Currency forwards Interest rate swaps Commodities Total hedge reserves Opening balance 1 January 2022 0.3 -0.4 1.8 1.7 change in fair value of hedging instruments recognized in OCI -1.9 0.8 8.4 7.3 Reclassified from OCI to profit or loss - included in purchases/sales adjustments 1.4 - - 1.4 Reclassified from OCI to financial income and expenses - -0.4 - -0.4 Reclassified from OCI to electricity purchases - - -4.8 -4.8 Deferred tax 0.0 0.0 -1.1 -1.0 Closing balance 31 December 2022 -0.2 0.0 4.4 4.2 change in fair value of hedging instruments recognized in OCI -3.1 0.0 -4.4 -7.5 Reclassified from OCI to profit or loss - included in purchases/sales adjustments 0.8 0.0 - 0.8 Reclassified from OCI to financial income and expenses - - - 0.0 Reclassified from OCI to electricity purchases - - 0.8 0.8 Deferred tax 0.3 - -0.2 0.2 Closing balance 31 December 2023 -2.2 0.0 0.7 -1.5 ",
"dimensions": {
"concept": "ifrs-full:DisclosureOfHedgeAccountingExplanatory",
"language": "en",
"entity": "scheme:52990007AXNSS4PNX352",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"fact-428": {
"value": "Positive and negative fair values of unrealised derivatives and their net amount are presented below. Currency derivatives are under netting agreements. The master netting agreements in respect of derivatives do not meet the criteria for offsetting in the balance sheet owing to legally enforceable right not existing currently ",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForOffsettingOfFinancialInstrumentsExplanatory",
"language": "en",
"entity": "scheme:52990007AXNSS4PNX352",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"fact-429": {
"value": "3.4 EQUITY Share capital At the end of the reporting period, Anora Group Plc\u2019s share capital amounted to EUR 61,500,000 and the number of issued shares was 67,553,624. All shares issued have been paid in full. The shares have no nominal value. Each share has one vote at the Annual General meeting and equal rights to dividend and other distribution of assets. The company does not hold its own shares. NUMBER OF SHARES 2023 2022 Number of outstanding shares in the beginning of the financial year (Basic) 67,553,624 67,553,624 Total number of outstanding shares at the end of the financial year (Basic) 67,553,624 67,553,624 Number of outstanding shareoptions in the beginning of the financial year 632,200 0 Options granted during period 472,200 656,400 Options forfeited during period -133,950 -24,200 Options exercised during period 0 0 Total number of outstanding shareoptions at the end of the financial year 970,450 632,200 Total number of oustanding shares at the end of the financial year (Diluted) 68,524,074 68,185,824 Invested unrestricted equity fund The invested unrestricted equity reserve includes the subscription price of shares to the extent that it has not been recorded in share capital according to specific resolution. Fair value reserve The fair value reserve represents the change in the fair value of financial assets measured at fair value through other comprehensive income. Legal reserve Legal reserve represents a statutory part of the foreign subsidiary\u2019s result. Hedge reserve The hedge reserve includes the fair value changes of derivative instruments used for cash flow hedging for effective hedges. CASH FLOW HEDGE RESERVE EUR million Currency forwards Interest rate swaps Commodities Total hedge reserves Opening balance 1 January 2022 0.3 -0.4 1.8 1.7 change in fair value of hedging instruments recognized in OCI -1.9 0.8 8.4 7.3 Reclassified from OCI to profit or loss - included in purchases/sales adjustments 1.4 - - 1.4 Reclassified from OCI to financial income and expenses - -0.4 - -0.4 Reclassified from OCI to electricity purchases - - -4.8 -4.8 Deferred tax 0.0 0.0 -1.1 -1.0 Closing balance 31 December 2022 -0.2 0.0 4.4 4.2 change in fair value of hedging instruments recognized in OCI -3.1 0.0 -4.4 -7.5 Reclassified from OCI to profit or loss - included in purchases/sales adjustments 0.8 0.0 - 0.8 Reclassified from OCI to financial income and expenses - - - 0.0 Reclassified from OCI to electricity purchases - - 0.8 0.8 Deferred tax 0.3 - -0.2 0.2 Closing balance 31 December 2023 -2.2 0.0 0.7 -1.5 Translation differences Translation differences comprise all foreign exchange differences arising from the translation of the foreign subsidiaries\u2019 financial statements. The Group\u2019s accumulated translation differences amounted to negative EUR 44.0 million at 31 December 2023 (31.12.2022: negative EUR 33.0 million). Earnings per share Basic earnings per share is calculated by dividing the result for the period attributable to owners of the parent company by the weighted average number of shares outstanding during the reporting period. Diluted earnings per share has been calculated on the same basis as basic earnings per share except that it reflects the impact of any potential commitments the Group has to issue shares in the future. The table at the start of this note show all outstanding ordinary and diluted shares as of 31.12.2023. EARNINGS PER SHARE 2023 2022 Result for the period attributable to the shareholders of the parent company, EUR million -39.9 17.9 Weighted average number of shares outstanding basic 67,553,624 67,553,624 Weighted average number of shares outstanding diluted 68,664,920 67,929,466 Earnings per share (EUR) basic -0.59 0.26 Earnings per share (EUR) diluted -0.58 0.26 Dividend The Board of Directors proposes to the Annual General Meeting that a dividend of EUR 0.22 (EUR 0.22 for 2022) per share be paid for the financial year 2023. ANORA GROUP PLC DISTRIBUTABLE FUNDS EUR million 2023 2022 Invested unrestriced equity 52.2 52.2 Retained earnings 74.4 65.9 Distribution of dividends -14.9 -30.4 Profit for the period -11.5 38.9 TOTAL DISTRIBUTABLE FUNDS 100.2 126.6",
"dimensions": {
"concept": "ifrs-full:DisclosureOfShareCapitalReservesAndOtherEquityInterestExplanatory",
"language": "en",
"entity": "scheme:52990007AXNSS4PNX352",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"fact-430": {
"value": "Share capital At the end of the reporting period, Anora Group Plc\u2019s share capital amounted to EUR 61,500,000 and the number of issued shares was 67,553,624. All shares issued have been paid in full. The shares have no nominal value. Each share has one vote at the Annual General meeting and equal rights to dividend and other distribution of assets. The company does not hold its own shares. NUMBER OF SHARES 2023 2022 Number of outstanding shares in the beginning of the financial year (Basic) 67,553,624 67,553,624 Total number of outstanding shares at the end of the financial year (Basic) 67,553,624 67,553,624 Number of outstanding shareoptions in the beginning of the financial year 632,200 0 Options granted during period 472,200 656,400 Options forfeited during period -133,950 -24,200 Options exercised during period 0 0 Total number of outstanding shareoptions at the end of the financial year 970,450 632,200 Total number of oustanding shares at the end of the financial year (Diluted) 68,524,074 68,185,824 Invested unrestricted equity fund The invested unrestricted equity reserve includes the subscription price of shares to the extent that it has not been recorded in share capital according to specific resolution. ",
"dimensions": {
"concept": "ifrs-full:DisclosureOfIssuedCapitalExplanatory",
"language": "en",
"entity": "scheme:52990007AXNSS4PNX352",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"fact-431": {
"value": "Fair value reserve The fair value reserve represents the change in the fair value of financial assets measured at fair value through other comprehensive income. Legal reserve Legal reserve represents a statutory part of the foreign subsidiary\u2019s result. Hedge reserve The hedge reserve includes the fair value changes of derivative instruments used for cash flow hedging for effective hedges. Translation differences Translation differences comprise all foreign exchange differences arising from the translation of the foreign subsidiaries\u2019 financial statements. The Group\u2019s accumulated translation differences amounted to negative EUR 44.0 million at 31 December 2023 (31.12.2022: negative EUR 33.0 million)",
"dimensions": {
"concept": "ifrs-full:DisclosureOfReservesAndOtherEquityInterestExplanatory",
"language": "en",
"entity": "scheme:52990007AXNSS4PNX352",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"fact-432": {
"value": "Earnings per share Basic earnings per share is calculated by dividing the result for the period attributable to owners of the parent company by the weighted average number of shares outstanding during the reporting period. Diluted earnings per share has been calculated on the same basis as basic earnings per share except that it reflects the impact of any potential commitments the Group has to issue shares in the future. The table at the start of this note show all outstanding ordinary and diluted shares as of 31.12.2023. EARNINGS PER SHARE 2023 2022 Result for the period attributable to the shareholders of the parent company, EUR million -39.9 17.9 Weighted average number of shares outstanding basic 67,553,624 67,553,624 Weighted average number of shares outstanding diluted 68,664,920 67,929,466 Earnings per share (EUR) basic -0.59 0.26 Earnings per share (EUR) diluted -0.58 0.26 ",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForEarningsPerShareExplanatory",
"language": "en",
"entity": "scheme:52990007AXNSS4PNX352",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"fact-433": {
"value": "Earnings per share Basic earnings per share is calculated by dividing the result for the period attributable to owners of the parent company by the weighted average number of shares outstanding during the reporting period. Diluted earnings per share has been calculated on the same basis as basic earnings per share except that it reflects the impact of any potential commitments the Group has to issue shares in the future. The table at the start of this note show all outstanding ordinary and diluted shares as of 31.12.2023. EARNINGS PER SHARE 2023 2022 Result for the period attributable to the shareholders of the parent company, EUR million -39.9 17.9 Weighted average number of shares outstanding basic 67,553,624 67,553,624 Weighted average number of shares outstanding diluted 68,664,920 67,929,466 Earnings per share (EUR) basic -0.59 0.26 Earnings per share (EUR) diluted -0.58 0.26 ",
"dimensions": {
"concept": "ifrs-full:DisclosureOfEarningsPerShareExplanatory",
"language": "en",
"entity": "scheme:52990007AXNSS4PNX352",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"fact-434": {
"value": "Dividend The Board of Directors proposes to the Annual General Meeting that a dividend of EUR 0.22 (EUR 0.22 for 2022) per share be paid for the financial year 2023",
"dimensions": {
"concept": "ifrs-full:DisclosureOfDividendsExplanatory",
"language": "en",
"entity": "scheme:52990007AXNSS4PNX352",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"fact-435": {
"value": "0.22",
"decimals": 4,
"dimensions": {
"concept": "ifrs-full:DividendsProposedOrDeclaredBeforeFinancialStatementsAuthorisedForIssueButNotRecognisedAsDistributionToOwnersPerShare",
"entity": "scheme:52990007AXNSS4PNX352",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"unit": "iso4217:EUR/xbrli:shares"
}
},
"fact-436": {
"value": "0.22",
"decimals": 4,
"dimensions": {
"concept": "ifrs-full:DividendsRecognisedAsDistributionsToOwnersPerShare",
"entity": "scheme:52990007AXNSS4PNX352",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"unit": "iso4217:EUR/xbrli:shares"
}
},
"fact-438": {
"value": "4.1 FINANCIAL RISK MANAGEMENT Financial risk management principles The aim of Anora\u2019s financial risk management is to ensure the Group\u2019s financial stability and availability of sufficient financing options in different market situations. In addition, the aim is to support the business operations to identify business-related financial risks and their management, and to limit and for some extent to hedge against without speculating material financial risk that the core business creates. The guiding principles of Anora\u2019s financial risk management are documented and described in the Group Treasury Policy. The Group is exposed to various market risks. Changes in these risks affect the company\u2019s assets, liabilities and anticipated transactions. The risks are caused by changes in interest rates, currencies and commodity market prices. Selected derivative instruments can be used to manage the risks resulting from these market risks. Anora mainly hedges against risks that impact the Group\u2019s cash flow, and, if deemed appropriate, also certain foreign currency denominated items in the balance sheet. Derivatives are solely used to hedging against the above-mentioned risks. The principles of IFRS 9 hedge accounting are applied to certain interest rate, foreign exchange as well as electricity derivatives. Financial risk management is executed as part of the Group\u2019s risk management, according to the Risk Management Principles approved by the Board of Directors. Anora\u2019s principles aiming towards financial, credit and operational continuity form the basis for financial risk management. Risk management process Special process features related to financing are described below in connection with the descriptions of market, liquidity and credit risks. The financial risk exposure is regularly reported to the Audit Committee and Anora\u2019s Board of Directors. The most significant principle decisions concerning risk management are made by the company\u2019s Board of Directors. Financial risk management Financial matters are reported regularly to the Group management. The Board of Directors processes all substantial financial matters, such as the Group\u2019s external funding arrangements. Tasks and responsibilities regarding Anora\u2019s financial operations and financial risk management are described in the financial risk management principles. The Group Treasury is responsible for securing financing, identifying risks and hedging of those risks according to Group Treasury Policy. The business units and subsidiaries are responsible for managing the risks associated with their own operations and forecasting cash flows. Risk concentrations Anora carefully analyses the financial risks and risk concentrations related to its operations. Risk concentrations identified as a result of this assessment are described in connection with the descriptions of market and credit risks. Market risk Anora defines market risk as a risk where the fair values of financial instruments or future cash flows fluctuate as a result of changes in market prices. The most significant market risks for the Group are currency risk, interest rate risk and price risks for barley and electricity. 1. Currency risk Anora is exposed to currency risks as it has operations in several different countries. The objective of the Group\u2019s currency risk management is to limit the effect of exchange rate fluctuations on the Group\u2019s cash flow in EUR. The most significant currencies are NOK, SEK, USD, AUD and DKK. Transaction risk Transaction risk is caused by foreign currency denominated items in the balance sheet and future cash flows related to sales, purchases and return of capital. Foreign exchange exposures are monitored at the Business level and future foreign currency cash flow risks of either sales or purchase contracts are hedged. The estimated future commercial exposures are evaluated by the Businesses, and the level of hedging is per Group Treasury Policy\u2019s mandate. Hedge accounting in accordance with IFRS 9 is applied to most of the hedges. Hedging transactions are executed with forward exchange contracts or options for the following 24 months at the most, predominantly following the pricing towards state monopolies in the Nordic region. In Finland this takes place every six months, in Norway every four months and in Sweden every six months. The two tables below present the Group\u2019s net currency position, first on the basis of financial instruments recorded on the balance sheet and secondly including on a net basis also the estimated future foreign currency net cash flows. The currency position resulting from the financial instruments in accordance with IFRS 7 consists of trade receivables, trade payables, cash and cash equivalents, the Group\u2019s internal and external loans and derivative instruments. The net currency risk has been taken into account in the table if the transaction currency is other than the Company\u2019s functional currency TABLE 1: THE GROUP\u2019S NET CURRENCY POSITION AT 31 DECEMBER The net currency position resulting from the financial instruments in accordance with IFRS 7 EUR million 2023 2022 EUR-SEK -29.5 62.0 EUR-NOK -11.8 -0.8 EUR-USD 10.8 8.3 EUR-AUD 1.1 1.1 The Group\u2019s net currency position at 31 December including also the hedged commercial cash flows EUR million 2023 2022 EUR-SEK 7.0 124.2 EUR-NOK 31.2 58.2 EUR-USD -2.5 -18.0 EUR-AUD 0.1 -1.7 Translation risk Translation risk is mainly caused by the parent company\u2019s foreign currency denominated net investments in foreign subsidiaries, which cause a translation difference in equity in the Group\u2019s balance sheet upon consolidation. The Group Treasury regularly analyses the translation risk and reports any material issues to the management. The most significant net investments are denominated in SEK and NOK. The translation risk has not been hedged . 2. Interest rate risk The objective of interest rate risk management is to minimise the impact of fluctuations arising from interest rate changes on the Group\u2019s profit. In December, Anora extended the maturity of its bullet loan and RCF by one year. At 31 December 2023 the total nominal amount of loans was amounting to EUR 216.8 million (2022: 218.3) and was divided as follows: \u2022 The EUR 210.0 million bullet loan matures in December 2026. \u2022 The EUR 6.8 million pension loan matures in January 2028. The interest rate is fixed for the whole loan period. The maximum amount under Anora\u2019s domestic commercial paper program is EUR 100 million. The amount of issued commercial papers at 31 December 2023 was EUR 0.0 (2022: 30.0) million. The sold trade receivables are derecognised at the time of trade with no obligation to repurchase. The related costs are recognised in other financial expenses. The trade receivables are current receivables and the related interest rate risk is not hedged. The amount of the sold trade receivables was EUR 173.6 million at 31 December 2023 (2022: 59.4 million). 3. Price risk associated with commodities Barley In 2023, Anora consumed approximately 174.0 (184.3) million kilos of grain to produce ethanol and starch. The availability of high- quality domestic barley was ensured until the end of 2023 through contract farming and cooperation with farmers and grain stores. The market price of barley significantly fluctuates year by year as a result of several factors that affect Finnish barley supply and demand. The price of barley is therefore considered to be a significant risk for Anora during the financial year. The price risk has not been hedged against with derivative instruments. Electricity A strong increase in the market price of electricity is a significant risk for Anora. In Finland, the risk is managed by following Anora\u2019s principles for electricity procurement and by a third-party specialist. These principles determine the hedging limits within which the electricity price risk is hedged against. The hedges are executed with the OTC-derivatives of Nasdaq OMX Oslo. At the end of 2023, the hedging ratio for deliveries for the next 12 months was 83.6% (78.0%), in line with the set targets. In 2023, the average hedging ratio was 86.8% (76.2%). Cash flow hedge accounting in accordance with IFRS 9 is applied to the hedges against electricity price risk, and hedge effectiveness is tested quarterly. All hedging was effective in 2023 as in 2022. Anora purchases its electricity straight from the Nord Pool Spot markets as a delivery tied to the spot price of the Finnish price area. As part of its electricity purchases, Anora also purchases physical electricity through bilateral fixed-price contracts. 4. Sensitivity to market risks The following table describes the sensitivity of the Group\u2019s profit and equity (before taxes) to changes in electricity prices, interest and foreign exchange rates. When Anora applies hedge accounting, the sensitivity is directed at equity. When hedge accounting is not applied, the sensitivity is recognised as a potential impact on profit or loss. The sensitivity to foreign exchange rate changes is calculated from the net currency position resulting from financial instruments. TABLE 2: SENSITIVITY ANALYSES Sensitivity of financial instruments to market risks (before taxes) in accordance with IFRS 7 2023 2022 EUR million Income statement Equity Income statement Equity +/-10% electricity - +/-0,2 - +/-0,8 +/-10% change in EUR/NOK exchange rate +/-1,2 +/-1,3 -/+0,1 +/-0,3 +/-10% change in EUR/SEK exchange rate +/-2,9 +/-3,9 +/-6,4 +/-1,9 +/-10% change in EUR/USD exchange rate -/+1,1 -/+1,3 -/+0,2 -/+0,6 +/-10% change in EUR/AUD exchange rate -/+0,1 -/+0,1 -/+0,0 -/+0,1 +1%-points parallel shift in interest rates -2.1 - -1.6 -0,0 At the end of 2023 the total Group floating rate liability position consists of floating rate liabilities EUR 210.0 million (2022: EUR 210.0 million). 5. Liquidity risk The Group\u2019s activities are subject to seasonal fluctuations and alcohol sales increase in periods with national celebrations and public holidays, especially at Easter and Christmas. The fourth quarter is normally the best quarter for the Group which is also reflected in cash flows. In order to manage the liquidity risk, Anora continuously maintains sufficient liquidity reserves, which at the end of 2023 comprised Group\u2019s both EUR 10 million and NOK 100 million overdraft facilities and a EUR 150 million revolving credit facility. At the end of December 2023, no revolving credit facility was in use (2022: EUR 0.0 million). The facilities mature in December 2026. More detailed information on the Group\u2019s external loans is provided in the interest rate risk section. TABLE 3: LIQUIDITY RESERVES Cash and cash equivalents and unused committed credit limits EUR million 2023 2022 Cash and cash equivalents 212.7 91.4 Overdraft facilities 18.9 19.5 Revolving credit line 150.0 150.0 TOTAL 381.6 260.9",
"dimensions": {
"concept": "ifrs-full:DisclosureOfFinancialRiskManagementExplanatory",
"language": "en",
"entity": "scheme:52990007AXNSS4PNX352",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"fact-439": {
"value": "Market risk Anora defines market risk as a risk where the fair values of financial instruments or future cash flows fluctuate as a result of changes in market prices. The most significant market risks for the Group are currency risk, interest rate risk and price risks for barley and electricity1. Currency risk Anora is exposed to currency risks as it has operations in several different countries. The objective of the Group\u2019s currency risk management is to limit the effect of exchange rate fluctuations on the Group\u2019s cash flow in EUR. The most significant currencies are NOK, SEK, USD, AUD and DKK. Transaction risk Transaction risk is caused by foreign currency denominated items in the balance sheet and future cash flows related to sales, purchases and return of capital. Foreign exchange exposures are monitored at the Business level and future foreign currency cash flow risks of either sales or purchase contracts are hedged. The estimated future commercial exposures are evaluated by the Businesses, and the level of hedging is per Group Treasury Policy\u2019s mandate. Hedge accounting in accordance with IFRS 9 is applied to most of the hedges. Hedging transactions are executed with forward exchange contracts or options for the following 24 months at the most, predominantly following the pricing towards state monopolies in the Nordic region. In Finland this takes place every six months, in Norway every four months and in Sweden every six months. The two tables below present the Group\u2019s net currency position, first on the basis of financial instruments recorded on the balance sheet and secondly including on a net basis also the estimated future foreign currency net cash flows. The currency position resulting from the financial instruments in accordance with IFRS 7 consists of trade receivables, trade payables, cash and cash equivalents, the Group\u2019s internal and external loans and derivative instruments. The net currency risk has been taken into account in the table if the transaction currency is other than the Company\u2019s functional currency . TABLE 1: THE GROUP\u2019S NET CURRENCY POSITION AT 31 DECEMBER The net currency position resulting from the financial instruments in accordance with IFRS 7 EUR million 2023 2022 EUR-SEK -29.5 62.0 EUR-NOK -11.8 -0.8 EUR-USD 10.8 8.3 EUR-AUD 1.1 1.1 The Group\u2019s net currency position at 31 December including also the hedged commercial cash flows EUR million 2023 2022 EUR-SEK 7.0 124.2 EUR-NOK 31.2 58.2 EUR-USD -2.5 -18.0 EUR-AUD 0.1 -1.7 Translation risk Translation risk is mainly caused by the parent company\u2019s foreign currency denominated net investments in foreign subsidiaries, which cause a translation difference in equity in the Group\u2019s balance sheet upon consolidation. The Group Treasury regularly analyses the translation risk and reports any material issues to the management. The most significant net investments are denominated in SEK and NOK. The translation risk has not been hedged 2. Interest rate risk The objective of interest rate risk management is to minimise the impact of fluctuations arising from interest rate changes on the Group\u2019s profit. In December, Anora extended the maturity of its bullet loan and RCF by one year. At 31 December 2023 the total nominal amount of loans was amounting to EUR 216.8 million (2022: 218.3) and was divided as follows: \u2022 The EUR 210.0 million bullet loan matures in December 2026. \u2022 The EUR 6.8 million pension loan matures in January 2028. The interest rate is fixed for the whole loan period. The maximum amount under Anora\u2019s domestic commercial paper program is EUR 100 million. The amount of issued commercial papers at 31 December 2023 was EUR 0.0 (2022: 30.0) million. The sold trade receivables are derecognised at the time of trade with no obligation to repurchase. The related costs are recognised in other financial expenses. The trade receivables are current receivables and the related interest rate risk is not hedged. The amount of the sold trade receivables was EUR 173.6 million at 31 December 2023 (2022: 59.4 million). 3. Price risk associated with commodities Barley In 2023, Anora consumed approximately 174.0 (184.3) million kilos of grain to produce ethanol and starch. The availability of high- quality domestic barley was ensured until the end of 2023 through contract farming and cooperation with farmers and grain stores. The market price of barley significantly fluctuates year by year as a result of several factors that affect Finnish barley supply and demand. The price of barley is therefore considered to be a significant risk for Anora during the financial year. The price risk has not been hedged against with derivative instruments. Electricity A strong increase in the market price of electricity is a significant risk for Anora. In Finland, the risk is managed by following Anora\u2019s principles for electricity procurement and by a third-party specialist. These principles determine the hedging limits within which the electricity price risk is hedged against. The hedges are executed with the OTC-derivatives of Nasdaq OMX Oslo. At the end of 2023, the hedging ratio for deliveries for the next 12 months was 83.6% (78.0%), in line with the set targets. In 2023, the average hedging ratio was 86.8% (76.2%). Cash flow hedge accounting in accordance with IFRS 9 is applied to the hedges against electricity price risk, and hedge effectiveness is tested quarterly. All hedging was effective in 2023 as in 2022. Anora purchases its electricity straight from the Nord Pool Spot markets as a delivery tied to the spot price of the Finnish price area. As part of its electricity purchases, Anora also purchases physical electricity through bilateral fixed-price contracts. 4. Sensitivity to market risks The following table describes the sensitivity of the Group\u2019s profit and equity (before taxes) to changes in electricity prices, interest and foreign exchange rates. When Anora applies hedge accounting, the sensitivity is directed at equity. When hedge accounting is not applied, the sensitivity is recognised as a potential impact on profit or loss. The sensitivity to foreign exchange rate changes is calculated from the net currency position resulting from financial instruments. TABLE 2: SENSITIVITY ANALYSES Sensitivity of financial instruments to market risks (before taxes) in accordance with IFRS 7 2023 2022 EUR million Income statement Equity Income statement Equity +/-10% electricity - +/-0,2 - +/-0,8 +/-10% change in EUR/NOK exchange rate +/-1,2 +/-1,3 -/+0,1 +/-0,3 +/-10% change in EUR/SEK exchange rate +/-2,9 +/-3,9 +/-6,4 +/-1,9 +/-10% change in EUR/USD exchange rate -/+1,1 -/+1,3 -/+0,2 -/+0,6 +/-10% change in EUR/AUD exchange rate -/+0,1 -/+0,1 -/+0,0 -/+0,1 +1%-points parallel shift in interest rates -2.1 - -1.6 -0,0 At the end of 2023 the total Group floating rate liability position consists of floating rate liabilities EUR 210.0 million (2022: EUR 210.0 million)",
"dimensions": {
"concept": "ifrs-full:DisclosureOfMarketRiskExplanatory",
"language": "en",
"entity": "scheme:52990007AXNSS4PNX352",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"fact-441": {
"value": "5. Liquidity risk The Group\u2019s activities are subject to seasonal fluctuations and alcohol sales increase in periods with national celebrations and public holidays, especially at Easter and Christmas. The fourth quarter is normally the best quarter for the Group which is also reflected in cash flows. In order to manage the liquidity risk, Anora continuously maintains sufficient liquidity reserves, which at the end of 2023 comprised Group\u2019s both EUR 10 million and NOK 100 million overdraft facilities and a EUR 150 million revolving credit facility. At the end of December 2023, no revolving credit facility was in use (2022: EUR 0.0 million). The facilities mature in December 2026. More detailed information on the Group\u2019s external loans is provided in the interest rate risk section. ",
"dimensions": {
"concept": "ifrs-full:DisclosureOfLiquidityRiskExplanatory",
"language": "en",
"entity": "scheme:52990007AXNSS4PNX352",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"fact-442": {
"value": "TABLE 3: LIQUIDITY RESERVES Cash and cash equivalents and unused committed credit limits EUR million 2023 2022 Cash and cash equivalents 212.7 91.4 Overdraft facilities 18.9 19.5 Revolving credit line 150.0 150.0 TOTAL 381.6 260.9",
"dimensions": {
"concept": "ifrs-full:DisclosureOfCashAndCashEquivalentsExplanatory",
"language": "en",
"entity": "scheme:52990007AXNSS4PNX352",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"fact-443": {
"value": "6. Credit risk The objective of Anora\u2019s credit risk management is to minimise the losses if one of the Group\u2019s counterparties fails to meet its obligations. The principles of credit risk management are described in the Group\u2019s credit policy. Credit risks are caused by a counterparty not fulfilling its contractual payment obligations or the counterparty\u2019s credit rating changing in a manner that affects the market value of the financial instruments it has issued. The aim is to minimise credit risks by active credit management and by taking into account customers\u2019 credit rating when determining the payment term of invoices. A significant share of the Group\u2019s revenue is associated with the state monopolies in the Nordic region where there is not considered to be any credit risk. The Group\u2019s credit risk is otherwise spread over industrial customers, a large number of small customers within the Horeca market as well as a small number of distributors outside the home markets.",
"dimensions": {
"concept": "ifrs-full:DisclosureOfCreditRiskExplanatory",
"language": "en",
"entity": "scheme:52990007AXNSS4PNX352",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"fact-444": {
"value": "4.2 CAPITAL RISK MANAGEMENT The target of Anora\u2019s capital management is to secure an effective capital structure that supports the profitable growth of the operations. The Board of Directors monitors the Group\u2019s capital structure regularly. Anora monitors its capital based on total Net Debt to Comparable EBITDA. The ratio is calculated by dividing net debt with the last 12 month\u2019s comparable EBITDA of the Group. Net debt /comparable EBITDA ratio at the end of 2023 is not comparable with prior period. 2022 Comparable EBITDA includes Globus result only from 1st of July 2022 onwards. During the business cycle, Group\u2019s Net debt to comparable EBITDA is likely to fluctuate, and the objective is to retain a sufficiently strong capital structure to secure the Group\u2019s financing needs. Net debt / comparable EBITDA is a covenant used in Group\u2019s funding arrangements. During the financial period, the covenants were not in breach. At 31 December 2023 and 31 December 2022 the Net debt comparable/ EBITDA was as follows:",
"dimensions": {
"concept": "ifrs-full:DisclosureOfObjectivesPoliciesAndProcessesForManagingCapitalExplanatory",
"language": "en",
"entity": "scheme:52990007AXNSS4PNX352",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"fact-445": {
"value": "5.1 GENERAL CONSOLIDATION PRINCIPLES Consolidation Consolidation, consolidation method and classification of ownership interests depends on whether the Group has power to control or jointly control the entity or have significant influence or other interests in the entity. When the Group has power to control the entity, it is consolidated as a subsidiary according to principles described in Note 5.3. Power to control an entity is normally achieved when shareholding is above 50% When the Group has joint control or significant influence over an entity but does not have power to control, entity is accounted for by using the principles set in Note 5.4. Significant influence is normally achieved when the Group has between 20%\u201350% shareholding. If the Group does not have power to control nor significant influence in the entity, its ownership interests are classified as financial assets at fair value through other comprehensive income and accounted for according to principles described in Note 3.2.1. This normally happens when the Group\u2019s ownership is below 20%. Non-controlling interests Non-controlling interests\u2019 share of profit after tax is shown on a separate line after Group\u2019s result for the period. Non- controlling interests\u2019 share of equity is shown on a separate line as part of the Group\u2019s total equity. In some subsidiaries with non-controlling interests, the non-controlling shareholder have a put option related to the non-controlling interest, where the Group does not have control of the non-controlling interests before the options are exercised, nor does it have control of whether the options will be exercised, or when this exercise may take place. The value of such options is recognised as liability at fair value through profit and loss in the balance sheet and reduces the non- controlling share of equity. This means that the non-controlling interests presented in the income statement and in the equity show only values where the minority does not have put options related to the minority shares. Foreign currency items All transactions in foreign currency are converted to functional currency at the time of the transaction. Monetary items in foreign currency are converted on the balance sheet date into functional currency by using the exchange rate on the balance sheet date. The consolidated financial statements are presented in euro, which is the functional currency of the parent company. The functional currency in the subsidiaries is the currency in which the subsidiary reports its legal statutory accounts, and the Group has subsidiaries with functional currencies EUR, SEK, NOK and DKK. When consolidating subsidiaries that have a functional currency other than euro, profit and loss items are converted to the group\u2019s presentation currency at year-to-date average exchange rates published by the European Central Bank. For balance sheet items reported in other currencies than euro, including PPA values and goodwill, the conversion to euro is based on closing rate on the reporting date. Exchange rates used for translation of reported figures in foreign functional currencies during 2023 are: EXCHANGE RATES DURING 2023 Functional currencies reported Average rate 2023 Closing rate 31.12.2023 Average rate 2022 Closing rate 31.12.2022 Swedish krona SEK 11.4842 11.0960 10.6571 11.1218 Norwegian krone NOK 11.4684 11.2405 10.1122 10.5138 Danish krone DKK 7.4513 7.4529 7.4396 7.4365 Translation differences arising from elimination of the cost of foreign subsidiaries and from translation of the foreign subsidiaries\u2019 post-acquisition profits and losses are recognised in other comprehensive income and presented as a separate item within equity. Goodwill and the fair value adjustments to the carrying amounts of assets and liabilities of foreign subsidiaries are accounted for as assets and liabilities of the respective foreign subsidiary, which are translated to euro using the closing rate at the reporting date. If these foreign units are entirely or partly disposed, related exchange rate differences are recognised in profit or loss as part of the gain or loss on disposal.",
"dimensions": {
"concept": "ifrs-full:DisclosureOfBasisOfConsolidationExplanatory",
"language": "en",
"entity": "scheme:52990007AXNSS4PNX352",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"fact-446": {
"value": "Consolidation Consolidation, consolidation method and classification of ownership interests depends on whether the Group has power to control or jointly control the entity or have significant influence or other interests in the entity. When the Group has power to control the entity, it is consolidated as a subsidiary according to principles described in Note 5.3. Power to control an entity is normally achieved when shareholding is above 50% When the Group has joint control or significant influence over an entity but does not have power to control, entity is accounted for by using the principles set in Note 5.4. Significant influence is normally achieved when the Group has between 20%\u201350% shareholding. If the Group does not have power to control nor significant influence in the entity, its ownership interests are classified as financial assets at fair value through other comprehensive income and accounted for according to principles described in Note 3.2.1. This normally happens when the Group\u2019s ownership is below 20%",
"dimensions": {
"concept": "ifrs-full:DisclosureOfConsolidatedAndSeparateFinancialStatementsExplanatory",
"language": "en",
"entity": "scheme:52990007AXNSS4PNX352",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"fact-447": {
"value": "Non-controlling interests Non-controlling interests\u2019 share of profit after tax is shown on a separate line after Group\u2019s result for the period. Non- controlling interests\u2019 share of equity is shown on a separate line as part of the Group\u2019s total equity. In some subsidiaries with non-controlling interests, the non-controlling shareholder have a put option related to the non-controlling interest, where the Group does not have control of the non-controlling interests before the options are exercised, nor does it have control of whether the options will be exercised, or when this exercise may take place. The value of such options is recognised as liability at fair value through profit and loss in the balance sheet and reduces the non- controlling share of equity. This means that the non-controlling interests presented in the income statement and in the equity show only values where the minority does not have put options related to the minority shares",
"dimensions": {
"concept": "ifrs-full:DisclosureOfNoncontrollingInterestsExplanatory",
"language": "en",
"entity": "scheme:52990007AXNSS4PNX352",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"fact-448": {
"value": "Foreign currency items All transactions in foreign currency are converted to functional currency at the time of the transaction. Monetary items in foreign currency are converted on the balance sheet date into functional currency by using the exchange rate on the balance sheet date. The consolidated financial statements are presented in euro, which is the functional currency of the parent company. The functional currency in the subsidiaries is the currency in which the subsidiary reports its legal statutory accounts, and the Group has subsidiaries with functional currencies EUR, SEK, NOK and DKK. When consolidating subsidiaries that have a functional currency other than euro, profit and loss items are converted to the group\u2019s presentation currency at year-to-date average exchange rates published by the European Central Bank. For balance sheet items reported in other currencies than euro, including PPA values and goodwill, the conversion to euro is based on closing rate on the reporting date. Exchange rates used for translation of reported figures in foreign functional currencies during 2023 are: EXCHANGE RATES DURING 2023 Functional currencies reported Average rate 2023 Closing rate 31.12.2023 Average rate 2022 Closing rate 31.12.2022 Swedish krona SEK 11.4842 11.0960 10.6571 11.1218 Norwegian krone NOK 11.4684 11.2405 10.1122 10.5138 Danish krone DKK 7.4513 7.4529 7.4396 7.4365 Translation differences arising from elimination of the cost of foreign subsidiaries and from translation of the foreign subsidiaries\u2019 post-acquisition profits and losses are recognised in other comprehensive income and presented as a separate item within equity. Goodwill and the fair value adjustments to the carrying amounts of assets and liabilities of foreign subsidiaries are accounted for as assets and liabilities of the respective foreign subsidiary, which are translated to euro using the closing rate at the reporting date. If these foreign units are entirely or partly disposed, related exchange rate differences are recognised in profit or loss as part of the gain or loss on disposal.",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForFunctionalCurrencyExplanatory",
"language": "en",
"entity": "scheme:52990007AXNSS4PNX352",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"fact-449": {
"value": "Foreign currency items All transactions in foreign currency are converted to functional currency at the time of the transaction. Monetary items in foreign currency are converted on the balance sheet date into functional currency by using the exchange rate on the balance sheet date. The consolidated financial statements are presented in euro, which is the functional currency of the parent company. The functional currency in the subsidiaries is the currency in which the subsidiary reports its legal statutory accounts, and the Group has subsidiaries with functional currencies EUR, SEK, NOK and DKK. When consolidating subsidiaries that have a functional currency other than euro, profit and loss items are converted to the group\u2019s presentation currency at year-to-date average exchange rates published by the European Central Bank. For balance sheet items reported in other currencies than euro, including PPA values and goodwill, the conversion to euro is based on closing rate on the reporting date. Exchange rates used for translation of reported figures in foreign functional currencies during 2023 are: EXCHANGE RATES DURING 2023 Functional currencies reported Average rate 2023 Closing rate 31.12.2023 Average rate 2022 Closing rate 31.12.2022 Swedish krona SEK 11.4842 11.0960 10.6571 11.1218 Norwegian krone NOK 11.4684 11.2405 10.1122 10.5138 Danish krone DKK 7.4513 7.4529 7.4396 7.4365 Translation differences arising from elimination of the cost of foreign subsidiaries and from translation of the foreign subsidiaries\u2019 post-acquisition profits and losses are recognised in other comprehensive income and presented as a separate item within equity. Goodwill and the fair value adjustments to the carrying amounts of assets and liabilities of foreign subsidiaries are accounted for as assets and liabilities of the respective foreign subsidiary, which are translated to euro using the closing rate at the reporting date. If these foreign units are entirely or partly disposed, related exchange rate differences are recognised in profit or loss as part of the gain or loss on disposal.",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForForeignCurrencyTranslationExplanatory",
"language": "en",
"entity": "scheme:52990007AXNSS4PNX352",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"fact-450": {
"value": "5.2 CHANGES IN GROUP STRUCTURE Sale of Larsen business Anora Group sold its Larsen cognac business to International Beverage Holdings limited as at 29th of September 2023. The disposal includes Anora\u2019s brands Larsen, Renault, Monopol and ibis as well as the company\u2019s subsidiary Larsen S.A.S with its production site in Cognac, France and Anora\u2019s eaux-de vie maturation stock. Critical accounting estimate and management judgement regarding sale of Larsen Cognac business was related to the amount of goodwill derecognised. The derecognised goodwill was determined as the part of the goodwill recorded from the historic purchase of Larsen that was allocated to Spirits business in 2022 (EUR 2.8 million). Management consider that the described method better reflects goodwill associated with the operations disposed compared to the method on the basis of relative values of the operation disposed of and the portion of the cash-generating unit retained. DISPOSED AMOUNTS OF ASSETS AND LIABILITIES EUR million 2023 The carrying amounts of assets and liabilities sold as at the date of sale Goodwill 2.8 Other intangible assets 2.2 Property plant and equipment 4.2 Inventory 31.4 Trade and other receivables 1.7 Cash and cash equivalents 4.2 Total assets 46.4 Deferred tax liabilities 0.1 Employee benefit obligation 0.1 Trade and other payables 1.3 Total liabilities 1.5 Net assets sold 44.9 Total disposal consideration in cash 58.5 Transaction costs -2.0 Total capital gain 11.6 Completion of the Globus Wine acquisition in 2022 On July 1, 2022 Anora completed the acquisition of Globus Wine A/S, the leading wine company in Denmark. The acquired business is reported as part of Anora\u2019s Wine segment as of July 1, 2022. The provisional amounts recognized on the date of the purchase have been adjusted within 12 months after the date of acquisition, to reflect new information obtained about facts and circumstances that existed at the date of acquisition, there were no adjustment made in 2023 to the amounts recored as of 31 December 2022. The final amounts are presented in the table below. RECOGNISED AMOUNTS OF IDENTIFIABLE ASSETS ACQUIRED AND LIABILITIES ASSUMED EUR million 2022 Intangible assets 44.3 Property, plant and equipment 7.7 Right of use assets 18.7 Inventory 20.9 Trade and other receivables 15.6 Cash and cash equivalents 0.1 Total Assets 107.3 Interest bearing liabilities 36.6 Deferred tax liabilities 10.9 Trade and other payables 20.2 Total liabilities 67.7 Net assets total 39.6 Goodwill 40.6 Total consideration 80.2 ANALYSIS OF CASH FLOWS OF ACQUISITION EUR million 2022 Purchase consideration, cash payment -80.2 Cash and Cash equivalents, in acquired companies 0.1 Transaction costs of the acquisitions -1.0 Net cash flow from acquisitions -81.1 Completion of the Von Elk acquisition in 2022 On September 1, 2022 Anora completed the acquisition of Von Elk Company Oy, mostly known for the brand Gl\u00f6et, which is one of the most popular sparkling gl\u00f6gg in the Nordics. The acquired business is reported as part of Anora\u2019s Wine segment as of September 1, 2022. The provisional amounts recognized on the date of the purchase have not been adjusted after the date of acquisition. The final amounts are presented in the are presented in the table below. EUR million 2022 Intangible assets 0.3 Property, plant and equipment 0.0 Trade and other receivables 0.0 Cash and cash equivalents 0.2 Total Assets 0.5 Deferred tax liabilities 0.1 Trade and other payables 0.0 Total liabilities 0.1 Net assets total 0.5 Goodwill 0.8 Remeasurement 0.3 Total consideration 1.0 ANALYSIS OF CASH FLOWS OF ACQUISITION EUR million 2022 Purchase consideration, cash payment -1.0 Cash and Cash equivalents, in acquired companies 0.2 Transaction costs of the acquisitions -0.0 Net cash flow from acquisitions -0.8 ",
"dimensions": {
"concept": "ifrs-full:DisclosureOfCompositionOfGroupExplanatory",
"language": "en",
"entity": "scheme:52990007AXNSS4PNX352",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"fact-451": {
"value": "Sale of Larsen business Anora Group sold its Larsen cognac business to International Beverage Holdings limited as at 29th of September 2023. The disposal includes Anora\u2019s brands Larsen, Renault, Monopol and ibis as well as the company\u2019s subsidiary Larsen S.A.S with its production site in Cognac, France and Anora\u2019s eaux-de vie maturation stock. Critical accounting estimate and management judgement regarding sale of Larsen Cognac business was related to the amount of goodwill derecognised. The derecognised goodwill was determined as the part of the goodwill recorded from the historic purchase of Larsen that was allocated to Spirits business in 2022 (EUR 2.8 million). Management consider that the described method better reflects goodwill associated with the operations disposed compared to the method on the basis of relative values of the operation disposed of and the portion of the cash-generating unit retained. DISPOSED AMOUNTS OF ASSETS AND LIABILITIES EUR million 2023 The carrying amounts of assets and liabilities sold as at the date of sale Goodwill 2.8 Other intangible assets 2.2 Property plant and equipment 4.2 Inventory 31.4 Trade and other receivables 1.7 Cash and cash equivalents 4.2 Total assets 46.4 Deferred tax liabilities 0.1 Employee benefit obligation 0.1 Trade and other payables 1.3 Total liabilities 1.5 Net assets sold 44.9 Total disposal consideration in cash 58.5 Transaction costs -2.0 Total capital gain 11.6 Completion of the Globus Wine acquisition in 2022 On July 1, 2022 Anora completed the acquisition of Globus Wine A/S, the leading wine company in Denmark. The acquired business is reported as part of Anora\u2019s Wine segment as of July 1, 2022. The provisional amounts recognized on the date of the purchase have been adjusted within 12 months after the date of acquisition, to reflect new information obtained about facts and circumstances that existed at the date of acquisition, there were no adjustment made in 2023 to the amounts recored as of 31 December 2022. The final amounts are presented in the table below. RECOGNISED AMOUNTS OF IDENTIFIABLE ASSETS ACQUIRED AND LIABILITIES ASSUMED EUR million 2022 Intangible assets 44.3 Property, plant and equipment 7.7 Right of use assets 18.7 Inventory 20.9 Trade and other receivables 15.6 Cash and cash equivalents 0.1 Total Assets 107.3 Interest bearing liabilities 36.6 Deferred tax liabilities 10.9 Trade and other payables 20.2 Total liabilities 67.7 Net assets total 39.6 Goodwill 40.6 Total consideration 80.2 ANALYSIS OF CASH FLOWS OF ACQUISITION EUR million 2022 Purchase consideration, cash payment -80.2 Cash and Cash equivalents, in acquired companies 0.1 Transaction costs of the acquisitions -1.0 Net cash flow from acquisitions -81.1 Completion of the Von Elk acquisition in 2022 On September 1, 2022 Anora completed the acquisition of Von Elk Company Oy, mostly known for the brand Gl\u00f6et, which is one of the most popular sparkling gl\u00f6gg in the Nordics. The acquired business is reported as part of Anora\u2019s Wine segment as of September 1, 2022. The provisional amounts recognized on the date of the purchase have not been adjusted after the date of acquisition. The final amounts are presented in the are presented in the table below. EUR million 2022 Intangible assets 0.3 Property, plant and equipment 0.0 Trade and other receivables 0.0 Cash and cash equivalents 0.2 Total Assets 0.5 Deferred tax liabilities 0.1 Trade and other payables 0.0 Total liabilities 0.1 Net assets total 0.5 Goodwill 0.8 Remeasurement 0.3 Total consideration 1.0 ANALYSIS OF CASH FLOWS OF ACQUISITION EUR million 2022 Purchase consideration, cash payment -1.0 Cash and Cash equivalents, in acquired companies 0.2 Transaction costs of the acquisitions -0.0 Net cash flow from acquisitions -0.8",
"dimensions": {
"concept": "ifrs-full:DisclosureOfBusinessCombinationsExplanatory",
"language": "en",
"entity": "scheme:52990007AXNSS4PNX352",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"fact-452": {
"value": "5.3 SUBSIDIARIES Subsidiaries consolidation principles Consolidated financial statements of Anora include the parent company, Anora Group Plc, and all subsidiaries. Subsidiaries are all those in which the parent company exercises control. The Group controls an entity when it is exposed, or has rights, to variable returns from its involvement with the investee, and could affect those returns through its power over the investee. The financial statements of acquired subsidiaries are included in the consolidated financial statements from the date that control commences until the date that control ceases. All business combinations are accounted for by using the acquisition method. The consideration transferred and the identifiable assets acquired and liabilities assumed in the acquired company are measured at fair value at the acquisition date. The aggregate amount of the consideration transferred, the amount of non-controlling interests and any previously held equity interest in the acquiree, exceeding the fair value of the net assets acquired is recorded as goodwill. All acquisition-related costs, with the exception of costs to issue debt or equity securities, are expensed. The consideration transferred does not include any transactions accounted for separately from the acquisition. Any contingent consideration is recognised at fair value at the acquisition date, and it is classified as either liability or equity. Contingent consideration classified as a liability is measured at fair value at each reporting date and any resulting gain or loss is recognised in profit or loss. Intra-group transactions, receivables, liabilities and unrealised gains, as well as the distribution of profits within the Group are eliminated in preparing the consolidated financial statements. Unrealised losses are not eliminated if the loss in question results from impairment. Non-controlling interests\u2019 share of profit after tax is shown on a separate line after the Group\u2019s profit for the year. Non- controlling interests\u2019 share of equity is shown on a separate line as part of the Group\u2019s equity. In some subsidiaries with non-controlling interests, there are put options related to the non-controlling interests. These put options are accounted for separately, see chapter 5.1 Non-controlling interests on how this affects presented non-controlling interests in the income statement and equity. Anora Group Plc had 70 subsidiaries at the end of the reporting period (72 subsidiaries at 31 December 2022) .",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForSubsidiariesExplanatory",
"language": "en",
"entity": "scheme:52990007AXNSS4PNX352",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"fact-453": {
"value": "5.3 SUBSIDIARIES Subsidiaries consolidation principles Consolidated financial statements of Anora include the parent company, Anora Group Plc, and all subsidiaries. Subsidiaries are all those in which the parent company exercises control. The Group controls an entity when it is exposed, or has rights, to variable returns from its involvement with the investee, and could affect those returns through its power over the investee. The financial statements of acquired subsidiaries are included in the consolidated financial statements from the date that control commences until the date that control ceases. All business combinations are accounted for by using the acquisition method. The consideration transferred and the identifiable assets acquired and liabilities assumed in the acquired company are measured at fair value at the acquisition date. The aggregate amount of the consideration transferred, the amount of non-controlling interests and any previously held equity interest in the acquiree, exceeding the fair value of the net assets acquired is recorded as goodwill. All acquisition-related costs, with the exception of costs to issue debt or equity securities, are expensed. The consideration transferred does not include any transactions accounted for separately from the acquisition. Any contingent consideration is recognised at fair value at the acquisition date, and it is classified as either liability or equity. Contingent consideration classified as a liability is measured at fair value at each reporting date and any resulting gain or loss is recognised in profit or loss. Intra-group transactions, receivables, liabilities and unrealised gains, as well as the distribution of profits within the Group are eliminated in preparing the consolidated financial statements. Unrealised losses are not eliminated if the loss in question results from impairment. Non-controlling interests\u2019 share of profit after tax is shown on a separate line after the Group\u2019s profit for the year. Non- controlling interests\u2019 share of equity is shown on a separate line as part of the Group\u2019s equity. In some subsidiaries with non-controlling interests, there are put options related to the non-controlling interests. These put options are accounted for separately, see chapter 5.1 Non-controlling interests on how this affects presented non-controlling interests in the income statement and equity. Anora Group Plc had 70 subsidiaries at the end of the reporting period (72 subsidiaries at 31 December 2022) Country of
incorporation
Parent
company\u2019s
share of
ownership (%)
2023
Group\u2019s share of
ownership (%)
2023
Parent
company\u2019s
share of
ownership (%)
2022
Group\u2019s share of
ownership (%)
2022
Altia Denmark A/S Denmark 100.0 100.0 100.0 100.0
Altia Norway AS Norway 100.0 100.0 100.0 100.0
Anora Estonia AS Estonia 100.0 100.0 100.0 100.0
Anora Germany GmbH Germany - 100.0 - 100.0
Anora Latvia SIA Latvia 100.0 100.0 100.0 100.0
Anora Prime Brands AS Norway - 100.0 - 100.0
Anora Sweden AB Sweden 100.0 100.0 100.0 100.0
Arcus Brand Lab AS Norway - 100.0 - 100.0
Arcus Co Brands AS Norway - 100.0 - 100.0
Arcus Denmark A/S Denmark - 100.0 - 100.0
Arcus Finland Oy Finland - 100.0 - 100.0
Arcus-Gruppen AS Norway - 100.0 - 100.0
Arcus Holding AS Norway 100.0 100.0 100.0 100.0
Arcus Norway AS Norway - 100.0 - 100.0
Arcus Sweden AB Sweden - 100.0 - 100.0
Arcus Wine Brands AS Norway - 100.0 - 100.0
Atlungstad H\u00e5ndverksdestilleri AS Norway - 100.0 - 100.0
Best Buys International AS Norway 100.0 100.0 100.0 100.0
BevCo AS Norway - 100.0 - 100.0
Bibendum AB Sweden - 100.0 - 100.0
Bibendum AS Norway 100.0 100.0 100.0 100.0
Brews4U Finland Oy Finland - 91.0 - 91.0
Champagne Sigurd Wongraven AS Norway - 100.0 - 100.0
Classic Wines AS Norway - 100.0 - 100.0
Creative Wines AS Norway - 100.0 - 100.0
Det Danske Spiritus Kompagni A/S Denmark - 100.0 - 100.0
Excellars AS Norway - 100.0 - 100.0
Globus Wine A/S Denmark - 100.0 - 100.0
Globus Wine GmbH Germany - 100.0 - 100.0
Globus Wine Germany GmbH Germany - 100.0 - 100.0
Globus Wine Poland Poland - 0.0 - 100.0
Hedoni Wines AS Norway - 100.0 - 100.0
Heritage Wines Sweden AB Sweden - 93.3 - 93.3
Heyday Wines AS Norway - 90.1 - 90.1
Interbev AS Norway 100.0 100.0 100.0 100.0
Larsen SAS France 0.0 0.0 100.0 100.0
L\u00f8iten Br\u00e6nderis Destillation ANS Norway - 100.0 - 100.0
Country of
incorporation
Parent
company\u2019s
share of
ownership (%)
2023
Group\u2019s share of
ownership (%)
2023
Parent
company\u2019s
share of
ownership (%)
2022
Group\u2019s share of
ownership (%)
2022
De Lysholmske Brenneri og
Destillasjonsfabrikker ANS Norway - 100.0 - 100.0
Merlot HoldCo ApS Denmark 100.0 100.0 100.0 100.0
Merlot BidCo ApS Denmark - 100.0 - 100.0
New Frontier Wines AB Sweden - 79.6 - 79.6
Oplandske Spritfabrik ANS Norway - 100.0 - 100.0
Philipson & S\u00f6derberg AB Sweden - 100.0 - 100.0
Premium Wines AS Norway 100.0 100.0 100.0 100.0
Quaffable Wines Sweden AB Sweden - 79.6 - 79.6
Siemers & Cos Destillasjon ANS Norway - 100.0 - 100.0
Social Wines Oy Finland - 100.0 - 100.0
South Swedish Craft Spirits AB Sweden - 100.0 - 100.0
Sublime Wines AS Norway - 100.0 - 100.0
Summit Wines AS Norway - 100.0 - 100.0
Symposium Wines AS Norway - 100.0 - 100.0
Str\u00f8m AS Norway 100.0 100.0 100.0 100.0
Swedish Wine Mafia AB Sweden - 99.5 - 99.5
Valid Wines Sweden AB Sweden - 94.5 - 94.5
Vectura AS Norway - 100.0 - 100.0
Vingaraget AB Sweden - 100.0 - 100.0
Vingruppen AS Norway - 100.0 - 100.0
Vingruppen Oy Finland - 100.0 - 100.0
Vingruppen Holding Sweden AB Sweden - 100.0 - 100.0
Vingruppen i Norden AB Sweden - 100.0 - 100.0
Vinordia AS Norway - 100.0 - 100.0
Vinordia Sweden AB Sweden - 100.0 - 100.0
Vinum Import Oy Finland - 98.1 - 98.1
Vinunic AB Sweden - 94.5 - 94.5
Vinuniq AS Norway - 100.0 - 100.0
Vinunic Oy Finland - 100.0 - 100.0
Von Elk Company Oy Finland 100.0 100.0 100.0 100.0
Oy Wennerco Ab Finland 100.0 100.0 100.0 100.0
The WineAgency Sweden AB Sweden - 99.5 - 99.5
Wineworld Finland Oy Finland - 90.0 - 90.0
Wineworld Sweden AB Sweden - 99.5 - 99.5
Wongraven Wines AS Norway - 90.0 - 90.0
",
"dimensions": {
"concept": "ifrs-full:DisclosureOfSignificantInvestmentsInSubsidiariesExplanatory",
"language": "en",
"entity": "scheme:52990007AXNSS4PNX352",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"fact-454": {
"value": "5.4 ASSOCIATED COMPANIES AND JOINT ARRANGEMENTS Associated companies Associated companies are all entities where the Group has joint control or significant influence over an entity but does not have power to control the entity. Normally this is when the Group accompanies a shareholding of over 20% of voting rights or otherwise has significant influence, but not control. Anora has investments in associated companies Palpa Lasi Oy, Tiffon SA, ISH ApS and Beverage Link AS. Associated companies are consolidated by using the equity method. Under the equity method, the investment is initially recognised at cost and subsequently adjusted with the change in the net assets of the investee after the acquisition date, consistent with the ownership interest of the Group. After the acquisition the Group\u2019s share in the associated company\u2019s profit and loss for the period is separately disclosed in the Group\u2019s income statement, presented after operating result. If the Group\u2019s share in the associated company\u2019s loss exceeds the carrying amount of the investment, the investment is recognised at zero value in the consolidated balance sheet and the loss exceeding the carrying amount is not consolidated, unless the Group has committed to fulfil the company\u2019s obligations. An investment in an associated company includes goodwill arisen on acquisition. The Group\u2019s share in changes in the associated company\u2019s other comprehensive income is recognised in consolidated other comprehensive income (OCI). Results from the transactions between the Group and its associates are recognised only to the extent of unrelated investor\u2019s interests in the associates. The Group determines at each reporting date whether there is any objective evidence that the investment in the associate is impaired. In case of such indications, the Group calculates the amount of impairment as the difference between the recoverable amount of the associate and its\u2019 carrying value. The impairment is recognised in share of results in associated companies. Financial statements of associated companies have been changed when necessary to correspond with the accounting policies adopted by the Group. If financial statements for the period are not available, the share of the profit is included in the consolidated financial statements based on the preliminary financial statements or latest available information. Joint arrangements A joint arrangement is an arrangement of which two or more parties have contractually agreed joint control which exists only when decisions about the relevant activities require the unanimous consent of the parties sharing control. A joint arrangement is either a joint operation or a joint venture . SHAREHOLDINGS IN ASSOCIATED COMPANIES AND JOINT ARRANGEMENTS Company Nature of relationship Measurement method 2023 Share of ownership % 2022 Share of ownership % Roal Oy, Finland Joint operation Cost 50.0 50.0 Palpa Lasi Oy, Finland Associate Equity 25.5 25.5 Tiffon SA, France Associate Equity 34.8 34.8 Beverage Link AS, Norway Associate Equity 45.0 45.0 ISH ApS, Denmark Associate Equity 26.0 26.0 Roal Oy engages in enzyme business in Finland. Anora has joint control over Roal together with ABF Overseas Limited (\u201cABF\u201d), but the option right held by the other shareholder represents in substance a receivable with a fixed rate of return and Anora does not have a right to 50% of the net assets until the option lapses. Accordingly, the interest is classified as a joint operation with Anora accounting for its share of assets as a receivable with the annual minimum dividend accounted for as interest income. The receivable amounted to EUR 7.6 million as at 31 December 2023 and 31 December 2022. Palpa Lasi Oy engages in the recycling and re-use of glass beverage packages. Tiffon SA is a cognac producer and the Group buys Cognac from Tiffon SA (Braastad Cognac). Tiffon SA has official accounting year that end 30 June every year. Beverage Link As is a jointly owned logistics company between Vectura AS, Skandinavisk Logistik AS and Cuveco AS. ISH ApS is Danish scale-up company in non-alcoholic spirits, wines and ready-to-drink beverages. ISH currently exports to over 15 countries with a special focus on Scandinavia, Western Europe and North America. Assets held for sale \u2013 Roal Oy ABF has notified Anora in December 2023 that they will exercise their call option to acquire Anora Group Plc\u2019s shares in Roal Oy at a fixed purchase price of MEUR 7.6 in Q1 2024. Therefore, as of 31 December 2023 the investment in Roal Oy was classified as available for sale according to criteria\u2019s met in reference to IFRS 5 Non-current assets held for sale and discontinued operations. The call option was formally exercised on 13 February 2024. The transaction is expected to close during Q1 2024. INVESTMENTS IN ASSOCIATED COMPANIES AND JOINT ARRANGEMENTS 2023 EUR million Roal Oy Tiffon SA ISH ApS Other Total Book value at beginning of the period 7.6 7.2 4.7 1.2 20.7 Acquisition of companies 0.0 0.0 0.0 0.0 0.0 Additions 0.0 0.0 0.1 0.0 0.1 Share of profit during period 0.9 0.3 -0.4 -0.6 0.2 Transfer to subsidiary shares 0.0 0.0 0.0 0.0 0.0 Dividend received -0.9 -0.2 0.0 0.0 -1.1 Translation differences 0.0 0.0 0.0 0.0 0.0 Total 7.6 7.3 4.4 0.6 19.9 Reclassified to assets held for sale -7.6 0.0 0.0 0.0 -7.6 Total book value at end of the period 0.0 7.3 4.4 0.6 12.3 RECONCILIATION TO CARRYING AMOUNT 2023: 2023 EUR million Roal Oy Tiffon SA ISH ApS Other Total Group's share of Net assets N/A 7,3 0,1 0,6 8,0 Goodwill 0.0 0.0 4.3 0.0 4.3 Cost price 7.6 0.0 0.0 0.0 7.6 Carrying amount 7.6 7.3 4.4 0.6 19.9 Reclassified to assets held for sale -7.6 0.0 0.0 0.0 -7.6 Total book value at end of the period 0.0 7.3 4.4 0.6 12.3 INVESTMENTS IN ASSOCIATED COMPANIES AND JOINT ARRANGEMENTS 2022 EUR million Roal Oy Tiffon SA ISH ApS Other Total Book value at beginning of the period 7.6 7.1 0.0 1.6 16.3 Acquisition of companies 0.0 0.0 0.0 0.0 0.0 Additions 0.0 0.0 5.0 0.0 5.0 Share of profit during period 0.9 0.1 -0.3 -0.2 0.4 Transfer to subsidiary shares 0.0 0.0 0.0 -0.3 -0.3 Dividend received -0.9 -0.1 0.0 0.0 -1.0 Translation differences 0.0 0.1 0.0 0.0 0.1 Total 7.6 7.2 4.7 1.2 20.7 RECONCILIATION TO CARRYING AMOUNT 2022: 2022 EUR million Roal Oy Tiffon SA ISH ApS Other Total Group's share of Net assets N/A 7,2 0,3 1,2 8,8 Goodwill 0.0 0.0 4.3 0.0 4.3 Cost price 7.6 0.0 0.0 0.0 7.6 Carrying amount 7.6 7.2 4.7 1.2 20.7 FINANCIAL SUMMARY OF ASSOCIATED COMPANIES 2023 Balance sheet figures 2023 EUR million Tiffon SA ISH ApS Other Total Current assets Cash and cash equivalents 1.2 0.4 0.4 2.0 Other current assets 33.0 1.3 5.1 39.4 Total current assets 34.2 1.7 5.5 41.4 Non-current assets 2.3 0.1 0.0 2.4 Current liabilities Financial liabilities excluding trade payables 0.0 0.0 0.0 0.0 Other current liabilities 2.6 1.5 3.3 7.4 Total current liabilities 2.6 1.5 3.3 7.4 Non-current liabilities Financial liabilities excluding trade payables 0.0 0.0 0.0 0.0 Other non-current liabilities 12.9 0.0 0.0 12.9 Total non-current liabilities 12.9 0.0 0.0 12.9 Net assets 21.0 0.3 2.2 23.5 Income statement figures 2023 EUR million Tiffon SA ISH ApS Other Total Total revenues 11.3 3.5 13.9 28.7 Depreciation and amortisation -0.4 0.0 0.0 -0.4 Interest income 0.0 0.0 0.0 0.0 Interest expense 0.0 0.0 0.0 0.0 Profit for the period Profit for the period from continuing operations 0.9 -1.5 -2.3 -3.0 Profit for the period from discontinuing operations 0.0 0.0 0.0 0.0 Total profit for the period 0.9 -1.5 -2.3 -3.0 Other comprehensive income 0.0 0.0 0.0 0.0 Total comprehensive income 0.9 -1.5 -2.3 -3.0 FINANCIAL SUMMARY OF ASSOCIATED COMPANIES 2022 Balance sheet figures 2022 EUR million Tiffon SA ISH ApS Other Total Current assets Cash and cash equivalents 1.4 1.9 3.0 6.4 Other current assets 30.4 1.0 5.4 36.9 Total current assets 31.9 3.0 8.5 43.3 Non-current assets 2.0 0.0 0.0 2.1 Current liabilities Financial liabilities excluding trade payables 0.0 0.0 0.0 0.0 Other current liabilities 2.7 1.6 3.9 8.3 Total current liabilities 2.7 1.6 3.9 8.3 Non-current liabilities Financial liabilities excluding trade payables 0.0 0.0 0.0 0.0 Other non-current liabilities 10.4 0.0 0.0 10.4 Total non-current liabilities 10.4 0.0 0.0 10.4 Net assets 20.8 1.3 4.6 26.7 Income statement figures 2022 EUR million Tiffon SA ISH ApS Other Total Total revenues 9.9 1.4 14.8 26.2 Depreciation and amortisation -0.4 0.0 0.0 -0.4 Interest income 0.0 0.0 0.0 0.0 Interest expense 0.0 0.0 0.0 0.0 Profit for the period Profit for the period from continuing operations 0.4 -1.2 -0.9 -1.7 Profit for the period from discontinuing operations 0.0 0.0 0.0 0.0 Total profit for the period 0.4 -1.2 -0.9 -1.7 Other comprehensive income 0.0 0.0 0.0 0.0 Total comprehensive income 0.4 -1.2 -0.9 -1.7 Related party transactions with associated companies and joint arrangements are presented in Note 6.3.",
"dimensions": {
"concept": "ifrs-full:DisclosureOfSignificantInvestmentsInAssociatesExplanatory",
"language": "en",
"entity": "scheme:52990007AXNSS4PNX352",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"fact-455": {
"value": "5.4 ASSOCIATED COMPANIES AND JOINT ARRANGEMENTS Associated companies Associated companies are all entities where the Group has joint control or significant influence over an entity but does not have power to control the entity. Normally this is when the Group accompanies a shareholding of over 20% of voting rights or otherwise has significant influence, but not control. Anora has investments in associated companies Palpa Lasi Oy, Tiffon SA, ISH ApS and Beverage Link AS. Associated companies are consolidated by using the equity method. Under the equity method, the investment is initially recognised at cost and subsequently adjusted with the change in the net assets of the investee after the acquisition date, consistent with the ownership interest of the Group. After the acquisition the Group\u2019s share in the associated company\u2019s profit and loss for the period is separately disclosed in the Group\u2019s income statement, presented after operating result. If the Group\u2019s share in the associated company\u2019s loss exceeds the carrying amount of the investment, the investment is recognised at zero value in the consolidated balance sheet and the loss exceeding the carrying amount is not consolidated, unless the Group has committed to fulfil the company\u2019s obligations. An investment in an associated company includes goodwill arisen on acquisition. The Group\u2019s share in changes in the associated company\u2019s other comprehensive income is recognised in consolidated other comprehensive income (OCI). Results from the transactions between the Group and its associates are recognised only to the extent of unrelated investor\u2019s interests in the associates. The Group determines at each reporting date whether there is any objective evidence that the investment in the associate is impaired. In case of such indications, the Group calculates the amount of impairment as the difference between the recoverable amount of the associate and its\u2019 carrying value. The impairment is recognised in share of results in associated companies. Financial statements of associated companies have been changed when necessary to correspond with the accounting policies adopted by the Group. If financial statements for the period are not available, the share of the profit is included in the consolidated financial statements based on the preliminary financial statements or latest available information. Joint arrangements A joint arrangement is an arrangement of which two or more parties have contractually agreed joint control which exists only when decisions about the relevant activities require the unanimous consent of the parties sharing control. A joint arrangement is either a joint operation or a joint venture . SHAREHOLDINGS IN ASSOCIATED COMPANIES AND JOINT ARRANGEMENTS Company Nature of relationship Measurement method 2023 Share of ownership % 2022 Share of ownership % Roal Oy, Finland Joint operation Cost 50.0 50.0 Palpa Lasi Oy, Finland Associate Equity 25.5 25.5 Tiffon SA, France Associate Equity 34.8 34.8 Beverage Link AS, Norway Associate Equity 45.0 45.0 ISH ApS, Denmark Associate Equity 26.0 26.0 Roal Oy engages in enzyme business in Finland. Anora has joint control over Roal together with ABF Overseas Limited (\u201cABF\u201d), but the option right held by the other shareholder represents in substance a receivable with a fixed rate of return and Anora does not have a right to 50% of the net assets until the option lapses. Accordingly, the interest is classified as a joint operation with Anora accounting for its share of assets as a receivable with the annual minimum dividend accounted for as interest income. The receivable amounted to EUR 7.6 million as at 31 December 2023 and 31 December 2022. Palpa Lasi Oy engages in the recycling and re-use of glass beverage packages. Tiffon SA is a cognac producer and the Group buys Cognac from Tiffon SA (Braastad Cognac). Tiffon SA has official accounting year that end 30 June every year. Beverage Link As is a jointly owned logistics company between Vectura AS, Skandinavisk Logistik AS and Cuveco AS. ISH ApS is Danish scale-up company in non-alcoholic spirits, wines and ready-to-drink beverages. ISH currently exports to over 15 countries with a special focus on Scandinavia, Western Europe and North America",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForInvestmentInAssociatesAndJointVenturesExplanatory",
"language": "en",
"entity": "scheme:52990007AXNSS4PNX352",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"fact-456": {
"value": "5.4 ASSOCIATED COMPANIES AND JOINT ARRANGEMENTS Associated companies Associated companies are all entities where the Group has joint control or significant influence over an entity but does not have power to control the entity. Normally this is when the Group accompanies a shareholding of over 20% of voting rights or otherwise has significant influence, but not control. Anora has investments in associated companies Palpa Lasi Oy, Tiffon SA, ISH ApS and Beverage Link AS. Associated companies are consolidated by using the equity method. Under the equity method, the investment is initially recognised at cost and subsequently adjusted with the change in the net assets of the investee after the acquisition date, consistent with the ownership interest of the Group. After the acquisition the Group\u2019s share in the associated company\u2019s profit and loss for the period is separately disclosed in the Group\u2019s income statement, presented after operating result. If the Group\u2019s share in the associated company\u2019s loss exceeds the carrying amount of the investment, the investment is recognised at zero value in the consolidated balance sheet and the loss exceeding the carrying amount is not consolidated, unless the Group has committed to fulfil the company\u2019s obligations. An investment in an associated company includes goodwill arisen on acquisition. The Group\u2019s share in changes in the associated company\u2019s other comprehensive income is recognised in consolidated other comprehensive income (OCI). Results from the transactions between the Group and its associates are recognised only to the extent of unrelated investor\u2019s interests in the associates. The Group determines at each reporting date whether there is any objective evidence that the investment in the associate is impaired. In case of such indications, the Group calculates the amount of impairment as the difference between the recoverable amount of the associate and its\u2019 carrying value. The impairment is recognised in share of results in associated companies. Financial statements of associated companies have been changed when necessary to correspond with the accounting policies adopted by the Group. If financial statements for the period are not available, the share of the profit is included in the consolidated financial statements based on the preliminary financial statements or latest available information. Joint arrangements A joint arrangement is an arrangement of which two or more parties have contractually agreed joint control which exists only when decisions about the relevant activities require the unanimous consent of the parties sharing control. A joint arrangement is either a joint operation or a joint venture . SHAREHOLDINGS IN ASSOCIATED COMPANIES AND JOINT ARRANGEMENTS Company Nature of relationship Measurement method 2023 Share of ownership % 2022 Share of ownership % Roal Oy, Finland Joint operation Cost 50.0 50.0 Palpa Lasi Oy, Finland Associate Equity 25.5 25.5 Tiffon SA, France Associate Equity 34.8 34.8 Beverage Link AS, Norway Associate Equity 45.0 45.0 ISH ApS, Denmark Associate Equity 26.0 26.0 Roal Oy engages in enzyme business in Finland. Anora has joint control over Roal together with ABF Overseas Limited (\u201cABF\u201d), but the option right held by the other shareholder represents in substance a receivable with a fixed rate of return and Anora does not have a right to 50% of the net assets until the option lapses. Accordingly, the interest is classified as a joint operation with Anora accounting for its share of assets as a receivable with the annual minimum dividend accounted for as interest income. The receivable amounted to EUR 7.6 million as at 31 December 2023 and 31 December 2022. Palpa Lasi Oy engages in the recycling and re-use of glass beverage packages. Tiffon SA is a cognac producer and the Group buys Cognac from Tiffon SA (Braastad Cognac). Tiffon SA has official accounting year that end 30 June every year. Beverage Link As is a jointly owned logistics company between Vectura AS, Skandinavisk Logistik AS and Cuveco AS. ISH ApS is Danish scale-up company in non-alcoholic spirits, wines and ready-to-drink beverages. ISH currently exports to over 15 countries with a special focus on Scandinavia, Western Europe and North America. Assets held for sale \u2013 Roal Oy ABF has notified Anora in December 2023 that they will exercise their call option to acquire Anora Group Plc\u2019s shares in Roal Oy at a fixed purchase price of MEUR 7.6 in Q1 2024. Therefore, as of 31 December 2023 the investment in Roal Oy was classified as available for sale according to criteria\u2019s met in reference to IFRS 5 Non-current assets held for sale and discontinued operations. The call option was formally exercised on 13 February 2024. The transaction is expected to close during Q1 2024. INVESTMENTS IN ASSOCIATED COMPANIES AND JOINT ARRANGEMENTS 2023 EUR million Roal Oy Tiffon SA ISH ApS Other Total Book value at beginning of the period 7.6 7.2 4.7 1.2 20.7 Acquisition of companies 0.0 0.0 0.0 0.0 0.0 Additions 0.0 0.0 0.1 0.0 0.1 Share of profit during period 0.9 0.3 -0.4 -0.6 0.2 Transfer to subsidiary shares 0.0 0.0 0.0 0.0 0.0 Dividend received -0.9 -0.2 0.0 0.0 -1.1 Translation differences 0.0 0.0 0.0 0.0 0.0 Total 7.6 7.3 4.4 0.6 19.9 Reclassified to assets held for sale -7.6 0.0 0.0 0.0 -7.6 Total book value at end of the period 0.0 7.3 4.4 0.6 12.3 RECONCILIATION TO CARRYING AMOUNT 2023: 2023 EUR million Roal Oy Tiffon SA ISH ApS Other Total Group's share of Net assets N/A 7,3 0,1 0,6 8,0 Goodwill 0.0 0.0 4.3 0.0 4.3 Cost price 7.6 0.0 0.0 0.0 7.6 Carrying amount 7.6 7.3 4.4 0.6 19.9 Reclassified to assets held for sale -7.6 0.0 0.0 0.0 -7.6 Total book value at end of the period 0.0 7.3 4.4 0.6 12.3 INVESTMENTS IN ASSOCIATED COMPANIES AND JOINT ARRANGEMENTS 2022 EUR million Roal Oy Tiffon SA ISH ApS Other Total Book value at beginning of the period 7.6 7.1 0.0 1.6 16.3 Acquisition of companies 0.0 0.0 0.0 0.0 0.0 Additions 0.0 0.0 5.0 0.0 5.0 Share of profit during period 0.9 0.1 -0.3 -0.2 0.4 Transfer to subsidiary shares 0.0 0.0 0.0 -0.3 -0.3 Dividend received -0.9 -0.1 0.0 0.0 -1.0 Translation differences 0.0 0.1 0.0 0.0 0.1 Total 7.6 7.2 4.7 1.2 20.7 RECONCILIATION TO CARRYING AMOUNT 2022: 2022 EUR million Roal Oy Tiffon SA ISH ApS Other Total Group's share of Net assets N/A 7,2 0,3 1,2 8,8 Goodwill 0.0 0.0 4.3 0.0 4.3 Cost price 7.6 0.0 0.0 0.0 7.6 Carrying amount 7.6 7.2 4.7 1.2 20.7 FINANCIAL SUMMARY OF ASSOCIATED COMPANIES 2023 Balance sheet figures 2023 EUR million Tiffon SA ISH ApS Other Total Current assets Cash and cash equivalents 1.2 0.4 0.4 2.0 Other current assets 33.0 1.3 5.1 39.4 Total current assets 34.2 1.7 5.5 41.4 Non-current assets 2.3 0.1 0.0 2.4 Current liabilities Financial liabilities excluding trade payables 0.0 0.0 0.0 0.0 Other current liabilities 2.6 1.5 3.3 7.4 Total current liabilities 2.6 1.5 3.3 7.4 Non-current liabilities Financial liabilities excluding trade payables 0.0 0.0 0.0 0.0 Other non-current liabilities 12.9 0.0 0.0 12.9 Total non-current liabilities 12.9 0.0 0.0 12.9 Net assets 21.0 0.3 2.2 23.5 Income statement figures 2023 EUR million Tiffon SA ISH ApS Other Total Total revenues 11.3 3.5 13.9 28.7 Depreciation and amortisation -0.4 0.0 0.0 -0.4 Interest income 0.0 0.0 0.0 0.0 Interest expense 0.0 0.0 0.0 0.0 Profit for the period Profit for the period from continuing operations 0.9 -1.5 -2.3 -3.0 Profit for the period from discontinuing operations 0.0 0.0 0.0 0.0 Total profit for the period 0.9 -1.5 -2.3 -3.0 Other comprehensive income 0.0 0.0 0.0 0.0 Total comprehensive income 0.9 -1.5 -2.3 -3.0 FINANCIAL SUMMARY OF ASSOCIATED COMPANIES 2022 Balance sheet figures 2022 EUR million Tiffon SA ISH ApS Other Total Current assets Cash and cash equivalents 1.4 1.9 3.0 6.4 Other current assets 30.4 1.0 5.4 36.9 Total current assets 31.9 3.0 8.5 43.3 Non-current assets 2.0 0.0 0.0 2.1 Current liabilities Financial liabilities excluding trade payables 0.0 0.0 0.0 0.0 Other current liabilities 2.7 1.6 3.9 8.3 Total current liabilities 2.7 1.6 3.9 8.3 Non-current liabilities Financial liabilities excluding trade payables 0.0 0.0 0.0 0.0 Other non-current liabilities 10.4 0.0 0.0 10.4 Total non-current liabilities 10.4 0.0 0.0 10.4 Net assets 20.8 1.3 4.6 26.7 Income statement figures 2022 EUR million Tiffon SA ISH ApS Other Total Total revenues 9.9 1.4 14.8 26.2 Depreciation and amortisation -0.4 0.0 0.0 -0.4 Interest income 0.0 0.0 0.0 0.0 Interest expense 0.0 0.0 0.0 0.0 Profit for the period Profit for the period from continuing operations 0.4 -1.2 -0.9 -1.7 Profit for the period from discontinuing operations 0.0 0.0 0.0 0.0 Total profit for the period 0.4 -1.2 -0.9 -1.7 Other comprehensive income 0.0 0.0 0.0 0.0 Total comprehensive income 0.4 -1.2 -0.9 -1.7 Related party transactions with associated companies and joint arrangements are presented in Note 6.3",
"dimensions": {
"concept": "ifrs-full:DisclosureOfInterestsInAssociatesExplanatory",
"language": "en",
"entity": "scheme:52990007AXNSS4PNX352",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"fact-457": {
"value": "Associated companies Associated companies are all entities where the Group has joint control or significant influence over an entity but does not have power to control the entity. Normally this is when the Group accompanies a shareholding of over 20% of voting rights or otherwise has significant influence, but not control. Anora has investments in associated companies Palpa Lasi Oy, Tiffon SA, ISH ApS and Beverage Link AS. Associated companies are consolidated by using the equity method. Under the equity method, the investment is initially recognised at cost and subsequently adjusted with the change in the net assets of the investee after the acquisition date, consistent with the ownership interest of the Group. After the acquisition the Group\u2019s share in the associated company\u2019s profit and loss for the period is separately disclosed in the Group\u2019s income statement, presented after operating result. If the Group\u2019s share in the associated company\u2019s loss exceeds the carrying amount of the investment, the investment is recognised at zero value in the consolidated balance sheet and the loss exceeding the carrying amount is not consolidated, unless the Group has committed to fulfil the company\u2019s obligations. An investment in an associated company includes goodwill arisen on acquisition. The Group\u2019s share in changes in the associated company\u2019s other comprehensive income is recognised in consolidated other comprehensive income (OCI). Results from the transactions between the Group and its associates are recognised only to the extent of unrelated investor\u2019s interests in the associates. The Group determines at each reporting date whether there is any objective evidence that the investment in the associate is impaired. In case of such indications, the Group calculates the amount of impairment as the difference between the recoverable amount of the associate and its\u2019 carrying value. The impairment is recognised in share of results in associated companies. Financial statements of associated companies have been changed when necessary to correspond with the accounting policies adopted by the Group. If financial statements for the period are not available, the share of the profit is included in the consolidated financial statements based on the preliminary financial statements or latest available information. ",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForInvestmentInAssociates",
"language": "en",
"entity": "scheme:52990007AXNSS4PNX352",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"fact-458": {
"value": "Associated companies Associated companies are all entities where the Group has joint control or significant influence over an entity but does not have power to control the entity. Normally this is when the Group accompanies a shareholding of over 20% of voting rights or otherwise has significant influence, but not control. Anora has investments in associated companies Palpa Lasi Oy, Tiffon SA, ISH ApS and Beverage Link AS. Associated companies are consolidated by using the equity method. Under the equity method, the investment is initially recognised at cost and subsequently adjusted with the change in the net assets of the investee after the acquisition date, consistent with the ownership interest of the Group. After the acquisition the Group\u2019s share in the associated company\u2019s profit and loss for the period is separately disclosed in the Group\u2019s income statement, presented after operating result. If the Group\u2019s share in the associated company\u2019s loss exceeds the carrying amount of the investment, the investment is recognised at zero value in the consolidated balance sheet and the loss exceeding the carrying amount is not consolidated, unless the Group has committed to fulfil the company\u2019s obligations. An investment in an associated company includes goodwill arisen on acquisition. The Group\u2019s share in changes in the associated company\u2019s other comprehensive income is recognised in consolidated other comprehensive income (OCI). Results from the transactions between the Group and its associates are recognised only to the extent of unrelated investor\u2019s interests in the associates. The Group determines at each reporting date whether there is any objective evidence that the investment in the associate is impaired. In case of such indications, the Group calculates the amount of impairment as the difference between the recoverable amount of the associate and its\u2019 carrying value. The impairment is recognised in share of results in associated companies. Financial statements of associated companies have been changed when necessary to correspond with the accounting policies adopted by the Group. If financial statements for the period are not available, the share of the profit is included in the consolidated financial statements based on the preliminary financial statements or latest available information. Joint arrangements A joint arrangement is an arrangement of which two or more parties have contractually agreed joint control which exists only when decisions about the relevant activities require the unanimous consent of the parties sharing control. A joint arrangement is either a joint operation or a joint venture . SHAREHOLDINGS IN ASSOCIATED COMPANIES AND JOINT ARRANGEMENTS Company Nature of relationship Measurement method 2023 Share of ownership % 2022 Share of ownership % Roal Oy, Finland Joint operation Cost 50.0 50.0 Palpa Lasi Oy, Finland Associate Equity 25.5 25.5 Tiffon SA, France Associate Equity 34.8 34.8 Beverage Link AS, Norway Associate Equity 45.0 45.0 ISH ApS, Denmark Associate Equity 26.0 26.0 Roal Oy engages in enzyme business in Finland. Anora has joint control over Roal together with ABF Overseas Limited (\u201cABF\u201d), but the option right held by the other shareholder represents in substance a receivable with a fixed rate of return and Anora does not have a right to 50% of the net assets until the option lapses. Accordingly, the interest is classified as a joint operation with Anora accounting for its share of assets as a receivable with the annual minimum dividend accounted for as interest income. The receivable amounted to EUR 7.6 million as at 31 December 2023 and 31 December 2022. Palpa Lasi Oy engages in the recycling and re-use of glass beverage packages. Tiffon SA is a cognac producer and the Group buys Cognac from Tiffon SA (Braastad Cognac). Tiffon SA has official accounting year that end 30 June every year. Beverage Link As is a jointly owned logistics company between Vectura AS, Skandinavisk Logistik AS and Cuveco AS. ISH ApS is Danish scale-up company in non-alcoholic spirits, wines and ready-to-drink beverages. ISH currently exports to over 15 countries with a special focus on Scandinavia, Western Europe and North America. ",
"dimensions": {
"concept": "ifrs-full:DisclosureOfInterestsInOtherEntitiesExplanatory",
"language": "en",
"entity": "scheme:52990007AXNSS4PNX352",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"fact-459": {
"value": "Joint arrangements A joint arrangement is an arrangement of which two or more parties have contractually agreed joint control which exists only when decisions about the relevant activities require the unanimous consent of the parties sharing control. A joint arrangement is either a joint operation or a joint venture ",
"dimensions": {
"concept": "ifrs-full:DisclosureOfJointVenturesExplanatory",
"language": "en",
"entity": "scheme:52990007AXNSS4PNX352",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"fact-460": {
"value": "Joint arrangements A joint arrangement is an arrangement of which two or more parties have contractually agreed joint control which exists only when decisions about the relevant activities require the unanimous consent of the parties sharing control. A joint arrangement is either a joint operation or a joint venture . ",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForInvestmentsInJointVentures",
"language": "en",
"entity": "scheme:52990007AXNSS4PNX352",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"fact-461": {
"value": "SHAREHOLDINGS IN ASSOCIATED COMPANIES AND JOINT ARRANGEMENTS Company Nature of relationship Measurement method 2023 Share of ownership % 2022 Share of ownership % Roal Oy, Finland Joint operation Cost 50.0 50.0 Palpa Lasi Oy, Finland Associate Equity 25.5 25.5 Tiffon SA, France Associate Equity 34.8 34.8 Beverage Link AS, Norway Associate Equity 45.0 45.0 ISH ApS, Denmark Associate Equity 26.0 26.0 ",
"dimensions": {
"concept": "ifrs-full:DisclosureOfInvestmentsAccountedForUsingEquityMethodExplanatory",
"language": "en",
"entity": "scheme:52990007AXNSS4PNX352",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"fact-462": {
"value": "Assets held for sale \u2013 Roal Oy ABF has notified Anora in December 2023 that they will exercise their call option to acquire Anora Group Plc\u2019s shares in Roal Oy at a fixed purchase price of MEUR 7.6 in Q1 2024. Therefore, as of 31 December 2023 the investment in Roal Oy was classified as available for sale according to criteria\u2019s met in reference to IFRS 5 Non-current assets held for sale and discontinued operations. The call option was formally exercised on 13 February 2024. The transaction is expected to close during Q1 2024. ",
"dimensions": {
"concept": "ifrs-full:DisclosureOfNoncurrentAssetsHeldForSaleAndDiscontinuedOperationsExplanatory",
"language": "en",
"entity": "scheme:52990007AXNSS4PNX352",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"fact-463": {
"value": "6.1 INCOME TAX EXPENSE Income tax expense The Group\u2019s income tax expense recognised through profit or loss comprises current tax based on taxable income for the period, any adjustments to tax payable in respect of previous periods, and changes in deferred taxes. Current income tax based on taxable income is calculated according to the local tax regulations of each Group company. Tax effects related to transactions or other events recognised in profit or loss are recognised in profit or loss. If the taxes relate to items of other comprehensive income or transactions or other events recognised directly in equity, income tax expense is recognised within the respective items. The Group\u2019s share of profit or loss in associated companies and joint ventures is reported as calculated from the net profit and thus including the income tax effect. Deferred tax assets and liabilities are principally recognised for all temporary differences between the carrying amounts of assets and liabilities for financial reporting purposes and the amounts used for taxation purposes. The most significant temporary differences arise from Intangible assets, Property, plant and equipment, Right-of-Use assets and corresponding lease liabilities, carry forward of unused tax losses and fair value allocations on business combinations. Deferred tax on assets and liabilities arising from single transactions are presented in a net basis in the income statement and in the balance sheet, but are shown with gross values in the deferred tax notes. Deferred tax assets are recognised only to the extent that it is probable that future taxable profits will be available against which they can be utilised. Deferred tax liabilities are recognised in full. Deferred taxes are calculated using tax rates enacted or substantively enacted at the end of the reporting period. Deferred tax is recognised for foreign subsidiaries undistributed earnings only when related tax effects are probable. Deferred tax assets and liabilities are set off when they are levied by same taxing authority and Anora has legally enforceable right to set off the balances. The legislation implementing the OECD Pillar Two model rules was enacted in Finland in 2023 and will come into effect from January 1, 2024, onwards. Anora applies the exception to recognizing and disclosing information about deferred tax assets and liabilities related to Pillar Two income taxes, as provided in the amendments to IAS 12 issued in May 2023. Since the Pillar Two legislation was not effective at the reporting date, no current tax exposure related to Pillar Two taxes exists at December 31, 2023. Anora is in the process of assessing its exposure to the Pillar Two legislation for when it comes into effect. This assessment indicates that Pillar Two legislation is not expected to have a material impact on Anora\u2019s income taxes. Critical estimates and management judgements \u2013 Deferred tax assets Judgment is required in assessing whether deferred tax assets are recognised on the balance sheet. Deferred tax assets are recognised only where it is considered more likely than not that they will be recovered, which is dependent on the generation of sufficient future taxable profits. Assumptions about the generation of future taxable profits depend on management\u2019s estimates of future cash flows. These future cash flow estimates depend on estimates of future sales volumes, price levels of main raw materials, capital expenditure and other components affecting profitability of the operations. These estimates and assumptions are subject to risk and uncertainty hence it is possible that changes in circumstances will alter expectations, which may impact the amount of deferred tax assets recognised on the balance sheet and the amount of any other tax losses and temporary differences not yet recognised. Anora\u2019s ability to generate taxable profit is also subject to general economic, financial, competitive, legislative and regulatory factors that are beyond its control. If Anora generates lower future taxable profits than what management has assumed in determining the amounts of the recognised deferred tax assets, the assets would be impaired, either partly or in full. Accordingly, amounts recognised in balance sheet could potentially be reversed through profit and loss. Changes in circumstances may also result in recognition of deferred tax assets for tax losses that previously have not been recognised as an asset . INCOME TAX EXPENSE EUR million 2023 2022 Current tax expense -4.4 -5.4 Adjustments to taxes for prior periods 0.8 -0.2 Change in deferred taxes 17.4 0.3 Total 13.9 -5.3 The reconciliation of the tax expense recognised in profit and loss and the tax expense calculated using Anora Group\u2019s domestic corporate tax rate (20.0%): RECONCILIATION OF TAX EXPENSE EUR million 2023 2022 Result before taxes -53.9 23.4 Income tax using the parent company tax rate 10.8 -4.7 Effect of tax rates of subsidiaries in foreign jurisdictions 1.8 0.0 Non-taxable income 1.3 0.3 Non-deductable expenses -0.4 -0.7 Utilisation of previously unrecognized tax losses 0.0 0.0 Adjustments to taxes for prior periods 0.8 0.3 Share of profit in assocated companies, net of tax -0.1 -0.1 Tax arising on dividends 0.0 0.0 Tax on undistributed earnings -0.3 -0.1 Other items 0.0 -0.3 Total 13.9 -5.3 INCOME TAX RECOGNISED IN OTHER COMPREHENSIVE INCOME 2023 EUR million Before tax Tax Net of tax Cash flow hedges -6.7 1.0 -5.7 Translation differences -12.8 0.0 -12.8 Remeasurements of post-employment benefit obligations -0.1 0.0 -0.1 Total -19.7 1.0 -18.6 2022 EUR million Before tax Tax Net of tax Cash flow hedges 3.1 -0.7 2.4 Translation differences -16.9 0.0 -16.9 Remeasurements of post-employment benefit obligations 0.1 0.0 0.1 Total -13.7 -0.7 -14.4 DEFERRED TAX ASSETS AND LIABILITIES Change in deferred tax assets and liabilities EUR million 1 Jan 2023 Recognised in profit or loss Recognised in OCI Acquired /disposed business Exhange rate differences 31 Dec 2023 Deferred tax assets: Tax losses 3.7 0.2 0.0 0.0 -0.2 3.7 Fixed assets 0.0 2.1 0.0 0.0 0.1 2.2 Lease Liabilities 31.4 -0.6 0.0 0.0 -1.6 29.1 Pension benefits 0.6 0.0 0.0 0.0 0.0 0.5 Other temporary differences 0.5 0.3 0.0 0.0 0.0 0.8 Total deferred tax assets 36.2 2.1 0.0 0.0 -1.8 36.4 Offset against deferred tax liabilities -35.6 -2.9 0.2 0.0 1.9 -36.5 Net deferred tax assets 0.6 -0.8 0.2 0.0 0.0 0.0 Deferred tax liabilities: Fixed assets 4.6 -0.1 0.0 0.3 0.0 4.8 Right-of-use assets 29.7 -13.3 0.0 0.0 -1.8 14.6 Recognised in hedge reserve 1.1 -0.2 -1.0 0.0 0.0 -0.1 Fair value allocation on acquisitions 45.2 -1.9 0.0 0.0 -2.1 41.2 Deductable goodwill depreciation 9.3 -0.2 0.0 0.0 0.0 9.1 Undistributed profits of foreign subsidiaries 1.3 0.3 0.0 0.0 0.0 1.6 Other temporary differences 1.7 0.0 0.0 0.0 0.0 1.7 Total deferred tax liabilities 92.9 -15.3 -1.0 0.3 -3.8 73.0 Offset against deferred tax assets -35.6 -2.9 0.2 0.0 1.9 -36.5 Net deferred tax liabilities 57.3 -18.2 -0.9 0.3 -1.9 36.5 DEFERRED TAX ASSETS AND LIABILITIES Change in deferred tax assets and liabilities EUR million 1 Jan 2022 Recognised in profit or loss Recognised in OCI Acquired /disposed business Exhange rate differences 31 Dec 2022 Deferred tax assets: Tax losses 5.8 -2.0 0.0 0.2 -0.2 3.7 Lease Liabilities 29.0 3.9 0.0 0.0 -1.4 31.4 Pension benefits 0.7 0.0 0.0 0.0 0.0 0.6 Other temporary differences 0.6 0.0 0.0 0.0 0.0 0.5 Total deferred tax assets 36.0 1.8 0.0 0.2 -1.7 36.2 Offset against deferred tax liabilities -36.4 -0.2 -35.6 Net deferred tax assets -0.4 0.0 0.6 Deferred tax liabilities: Fixed assets 4.0 -0.1 0.0 0.9 -0.1 4.6 Right-of-Use assets 27.5 3.5 0.0 0.0 -1.3 29.7 Recognised in hedge reserve 0.4 0.0 0.7 0.0 0.0 1.1 Fair value allocation on acquisitions 38.7 -2.0 0.0 9.8 -1.4 45.2 Deductable goodwill depreciation 9.8 0.0 0.0 0.0 -0.5 9.3 Undistributed profits of foreign subsidiaries 1.2 0.1 0.0 0.0 0.0 1.3 Other temporary differences 1.1 0.3 0.0 0.4 -0.2 1.7 Total deferred tax liabilities 82.6 1.9 0.7 11.1 -3.5 92.9 Offset against deferred tax assets -36.4 -35.6 Net deferred tax liabilities 46.2 11.1 -3.5 57.3 At 31 December 2023, the Group had EUR 0.8 million (2022: EUR 0.8 million) of tax loss carry forwards for which no deferred tax was recognised. Anora management estimates these losses arise in subsidiaries which have neither indication of future taxable income nor other convincing evidence that tax losses can be utilised and deferred tax asset be recognised in balance sheet.",
"dimensions": {
"concept": "ifrs-full:DisclosureOfIncomeTaxExplanatory",
"language": "en",
"entity": "scheme:52990007AXNSS4PNX352",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"fact-464": {
"value": "6.1 INCOME TAX EXPENSE Income tax expense The Group\u2019s income tax expense recognised through profit or loss comprises current tax based on taxable income for the period, any adjustments to tax payable in respect of previous periods, and changes in deferred taxes. Current income tax based on taxable income is calculated according to the local tax regulations of each Group company. Tax effects related to transactions or other events recognised in profit or loss are recognised in profit or loss. If the taxes relate to items of other comprehensive income or transactions or other events recognised directly in equity, income tax expense is recognised within the respective items. The Group\u2019s share of profit or loss in associated companies and joint ventures is reported as calculated from the net profit and thus including the income tax effect. Deferred tax assets and liabilities are principally recognised for all temporary differences between the carrying amounts of assets and liabilities for financial reporting purposes and the amounts used for taxation purposes. The most significant temporary differences arise from Intangible assets, Property, plant and equipment, Right-of-Use assets and corresponding lease liabilities, carry forward of unused tax losses and fair value allocations on business combinations. Deferred tax on assets and liabilities arising from single transactions are presented in a net basis in the income statement and in the balance sheet, but are shown with gross values in the deferred tax notes. Deferred tax assets are recognised only to the extent that it is probable that future taxable profits will be available against which they can be utilised. Deferred tax liabilities are recognised in full. Deferred taxes are calculated using tax rates enacted or substantively enacted at the end of the reporting period. Deferred tax is recognised for foreign subsidiaries undistributed earnings only when related tax effects are probable. Deferred tax assets and liabilities are set off when they are levied by same taxing authority and Anora has legally enforceable right to set off the balances. The legislation implementing the OECD Pillar Two model rules was enacted in Finland in 2023 and will come into effect from January 1, 2024, onwards. Anora applies the exception to recognizing and disclosing information about deferred tax assets and liabilities related to Pillar Two income taxes, as provided in the amendments to IAS 12 issued in May 2023. Since the Pillar Two legislation was not effective at the reporting date, no current tax exposure related to Pillar Two taxes exists at December 31, 2023. Anora is in the process of assessing its exposure to the Pillar Two legislation for when it comes into effect. This assessment indicates that Pillar Two legislation is not expected to have a material impact on Anora\u2019s income taxes. Critical estimates and management judgements \u2013 Deferred tax assets Judgment is required in assessing whether deferred tax assets are recognised on the balance sheet. Deferred tax assets are recognised only where it is considered more likely than not that they will be recovered, which is dependent on the generation of sufficient future taxable profits. Assumptions about the generation of future taxable profits depend on management\u2019s estimates of future cash flows. These future cash flow estimates depend on estimates of future sales volumes, price levels of main raw materials, capital expenditure and other components affecting profitability of the operations. These estimates and assumptions are subject to risk and uncertainty hence it is possible that changes in circumstances will alter expectations, which may impact the amount of deferred tax assets recognised on the balance sheet and the amount of any other tax losses and temporary differences not yet recognised. Anora\u2019s ability to generate taxable profit is also subject to general economic, financial, competitive, legislative and regulatory factors that are beyond its control. If Anora generates lower future taxable profits than what management has assumed in determining the amounts of the recognised deferred tax assets, the assets would be impaired, either partly or in full. Accordingly, amounts recognised in balance sheet could potentially be reversed through profit and loss. Changes in circumstances may also result in recognition of deferred tax assets for tax losses that previously have not been recognised as an asset . INCOME TAX EXPENSE EUR million 2023 2022 Current tax expense -4.4 -5.4 Adjustments to taxes for prior periods 0.8 -0.2 Change in deferred taxes 17.4 0.3 Total 13.9 -5.3 The reconciliation of the tax expense recognised in profit and loss and the tax expense calculated using Anora Group\u2019s domestic corporate tax rate (20.0%): RECONCILIATION OF TAX EXPENSE EUR million 2023 2022 Result before taxes -53.9 23.4 Income tax using the parent company tax rate 10.8 -4.7 Effect of tax rates of subsidiaries in foreign jurisdictions 1.8 0.0 Non-taxable income 1.3 0.3 Non-deductable expenses -0.4 -0.7 Utilisation of previously unrecognized tax losses 0.0 0.0 Adjustments to taxes for prior periods 0.8 0.3 Share of profit in assocated companies, net of tax -0.1 -0.1 Tax arising on dividends 0.0 0.0 Tax on undistributed earnings -0.3 -0.1 Other items 0.0 -0.3 Total 13.9 -5.3 INCOME TAX RECOGNISED IN OTHER COMPREHENSIVE INCOME 2023 EUR million Before tax Tax Net of tax Cash flow hedges -6.7 1.0 -5.7 Translation differences -12.8 0.0 -12.8 Remeasurements of post-employment benefit obligations -0.1 0.0 -0.1 Total -19.7 1.0 -18.6 2022 EUR million Before tax Tax Net of tax Cash flow hedges 3.1 -0.7 2.4 Translation differences -16.9 0.0 -16.9 Remeasurements of post-employment benefit obligations 0.1 0.0 0.1 Total -13.7 -0.7 -14.4 DEFERRED TAX ASSETS AND LIABILITIES Change in deferred tax assets and liabilities EUR million 1 Jan 2023 Recognised in profit or loss Recognised in OCI Acquired /disposed business Exhange rate differences 31 Dec 2023 Deferred tax assets: Tax losses 3.7 0.2 0.0 0.0 -0.2 3.7 Fixed assets 0.0 2.1 0.0 0.0 0.1 2.2 Lease Liabilities 31.4 -0.6 0.0 0.0 -1.6 29.1 Pension benefits 0.6 0.0 0.0 0.0 0.0 0.5 Other temporary differences 0.5 0.3 0.0 0.0 0.0 0.8 Total deferred tax assets 36.2 2.1 0.0 0.0 -1.8 36.4 Offset against deferred tax liabilities -35.6 -2.9 0.2 0.0 1.9 -36.5 Net deferred tax assets 0.6 -0.8 0.2 0.0 0.0 0.0 Deferred tax liabilities: Fixed assets 4.6 -0.1 0.0 0.3 0.0 4.8 Right-of-use assets 29.7 -13.3 0.0 0.0 -1.8 14.6 Recognised in hedge reserve 1.1 -0.2 -1.0 0.0 0.0 -0.1 Fair value allocation on acquisitions 45.2 -1.9 0.0 0.0 -2.1 41.2 Deductable goodwill depreciation 9.3 -0.2 0.0 0.0 0.0 9.1 Undistributed profits of foreign subsidiaries 1.3 0.3 0.0 0.0 0.0 1.6 Other temporary differences 1.7 0.0 0.0 0.0 0.0 1.7 Total deferred tax liabilities 92.9 -15.3 -1.0 0.3 -3.8 73.0 Offset against deferred tax assets -35.6 -2.9 0.2 0.0 1.9 -36.5 Net deferred tax liabilities 57.3 -18.2 -0.9 0.3 -1.9 36.5 DEFERRED TAX ASSETS AND LIABILITIES Change in deferred tax assets and liabilities EUR million 1 Jan 2022 Recognised in profit or loss Recognised in OCI Acquired /disposed business Exhange rate differences 31 Dec 2022 Deferred tax assets: Tax losses 5.8 -2.0 0.0 0.2 -0.2 3.7 Lease Liabilities 29.0 3.9 0.0 0.0 -1.4 31.4 Pension benefits 0.7 0.0 0.0 0.0 0.0 0.6 Other temporary differences 0.6 0.0 0.0 0.0 0.0 0.5 Total deferred tax assets 36.0 1.8 0.0 0.2 -1.7 36.2 Offset against deferred tax liabilities -36.4 -0.2 -35.6 Net deferred tax assets -0.4 0.0 0.6 Deferred tax liabilities: Fixed assets 4.0 -0.1 0.0 0.9 -0.1 4.6 Right-of-Use assets 27.5 3.5 0.0 0.0 -1.3 29.7 Recognised in hedge reserve 0.4 0.0 0.7 0.0 0.0 1.1 Fair value allocation on acquisitions 38.7 -2.0 0.0 9.8 -1.4 45.2 Deductable goodwill depreciation 9.8 0.0 0.0 0.0 -0.5 9.3 Undistributed profits of foreign subsidiaries 1.2 0.1 0.0 0.0 0.0 1.3 Other temporary differences 1.1 0.3 0.0 0.4 -0.2 1.7 Total deferred tax liabilities 82.6 1.9 0.7 11.1 -3.5 92.9 Offset against deferred tax assets -36.4 -35.6 Net deferred tax liabilities 46.2 11.1 -3.5 57.3 At 31 December 2023, the Group had EUR 0.8 million (2022: EUR 0.8 million) of tax loss carry forwards for which no deferred tax was recognised. Anora management estimates these losses arise in subsidiaries which have neither indication of future taxable income nor other convincing evidence that tax losses can be utilised and deferred tax asset be recognised in balance sheet.",
"dimensions": {
"concept": "ifrs-full:DisclosureOfDeferredTaxesExplanatory",
"language": "en",
"entity": "scheme:52990007AXNSS4PNX352",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"fact-465": {
"value": "6.1 INCOME TAX EXPENSE Income tax expense The Group\u2019s income tax expense recognised through profit or loss comprises current tax based on taxable income for the period, any adjustments to tax payable in respect of previous periods, and changes in deferred taxes. Current income tax based on taxable income is calculated according to the local tax regulations of each Group company. Tax effects related to transactions or other events recognised in profit or loss are recognised in profit or loss. If the taxes relate to items of other comprehensive income or transactions or other events recognised directly in equity, income tax expense is recognised within the respective items. The Group\u2019s share of profit or loss in associated companies and joint ventures is reported as calculated from the net profit and thus including the income tax effect. Deferred tax assets and liabilities are principally recognised for all temporary differences between the carrying amounts of assets and liabilities for financial reporting purposes and the amounts used for taxation purposes. The most significant temporary differences arise from Intangible assets, Property, plant and equipment, Right-of-Use assets and corresponding lease liabilities, carry forward of unused tax losses and fair value allocations on business combinations. Deferred tax on assets and liabilities arising from single transactions are presented in a net basis in the income statement and in the balance sheet, but are shown with gross values in the deferred tax notes. Deferred tax assets are recognised only to the extent that it is probable that future taxable profits will be available against which they can be utilised. Deferred tax liabilities are recognised in full. Deferred taxes are calculated using tax rates enacted or substantively enacted at the end of the reporting period. Deferred tax is recognised for foreign subsidiaries undistributed earnings only when related tax effects are probable. Deferred tax assets and liabilities are set off when they are levied by same taxing authority and Anora has legally enforceable right to set off the balances. The legislation implementing the OECD Pillar Two model rules was enacted in Finland in 2023 and will come into effect from January 1, 2024, onwards. Anora applies the exception to recognizing and disclosing information about deferred tax assets and liabilities related to Pillar Two income taxes, as provided in the amendments to IAS 12 issued in May 2023. Since the Pillar Two legislation was not effective at the reporting date, no current tax exposure related to Pillar Two taxes exists at December 31, 2023. Anora is in the process of assessing its exposure to the Pillar Two legislation for when it comes into effect. This assessment indicates that Pillar Two legislation is not expected to have a material impact on Anora\u2019s income taxes. Critical estimates and management judgements \u2013 Deferred tax assets Judgment is required in assessing whether deferred tax assets are recognised on the balance sheet. Deferred tax assets are recognised only where it is considered more likely than not that they will be recovered, which is dependent on the generation of sufficient future taxable profits. Assumptions about the generation of future taxable profits depend on management\u2019s estimates of future cash flows. These future cash flow estimates depend on estimates of future sales volumes, price levels of main raw materials, capital expenditure and other components affecting profitability of the operations. These estimates and assumptions are subject to risk and uncertainty hence it is possible that changes in circumstances will alter expectations, which may impact the amount of deferred tax assets recognised on the balance sheet and the amount of any other tax losses and temporary differences not yet recognised. Anora\u2019s ability to generate taxable profit is also subject to general economic, financial, competitive, legislative and regulatory factors that are beyond its control. If Anora generates lower future taxable profits than what management has assumed in determining the amounts of the recognised deferred tax assets, the assets would be impaired, either partly or in full. Accordingly, amounts recognised in balance sheet could potentially be reversed through profit and loss. Changes in circumstances may also result in recognition of deferred tax assets for tax losses that previously have not been recognised as an asset ",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForDeferredIncomeTaxExplanatory",
"language": "en",
"entity": "scheme:52990007AXNSS4PNX352",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"fact-466": {
"value": "Income tax expense The Group\u2019s income tax expense recognised through profit or loss comprises current tax based on taxable income for the period, any adjustments to tax payable in respect of previous periods, and changes in deferred taxes. Current income tax based on taxable income is calculated according to the local tax regulations of each Group company. Tax effects related to transactions or other events recognised in profit or loss are recognised in profit or loss. If the taxes relate to items of other comprehensive income or transactions or other events recognised directly in equity, income tax expense is recognised within the respective items. The Group\u2019s share of profit or loss in associated companies and joint ventures is reported as calculated from the net profit and thus including the income tax effect. Deferred tax assets and liabilities are principally recognised for all temporary differences between the carrying amounts of assets and liabilities for financial reporting purposes and the amounts used for taxation purposes. The most significant temporary differences arise from Intangible assets, Property, plant and equipment, Right-of-Use assets and corresponding lease liabilities, carry forward of unused tax losses and fair value allocations on business combinations. Deferred tax on assets and liabilities arising from single transactions are presented in a net basis in the income statement and in the balance sheet, but are shown with gross values in the deferred tax notes. Deferred tax assets are recognised only to the extent that it is probable that future taxable profits will be available against which they can be utilised. Deferred tax liabilities are recognised in full. Deferred taxes are calculated using tax rates enacted or substantively enacted at the end of the reporting period. Deferred tax is recognised for foreign subsidiaries undistributed earnings only when related tax effects are probable. Deferred tax assets and liabilities are set off when they are levied by same taxing authority and Anora has legally enforceable right to set off the balances. The legislation implementing the OECD Pillar Two model rules was enacted in Finland in 2023 and will come into effect from January 1, 2024, onwards. Anora applies the exception to recognizing and disclosing information about deferred tax assets and liabilities related to Pillar Two income taxes, as provided in the amendments to IAS 12 issued in May 2023. Since the Pillar Two legislation was not effective at the reporting date, no current tax exposure related to Pillar Two taxes exists at December 31, 2023. Anora is in the process of assessing its exposure to the Pillar Two legislation for when it comes into effect. This assessment indicates that Pillar Two legislation is not expected to have a material impact on Anora\u2019s income taxes. ",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForIncomeTaxExplanatory",
"language": "en",
"entity": "scheme:52990007AXNSS4PNX352",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"fact-468": {
"value": "6.2 COLLATERALS, COMMITMENTS AND CONTINGENT ASSETS AND LIABILITIES EUR million 2023 2022 Collaterals and commitments Collaterals given on behalf of Group companies Mortgages 18.5 18.5 Guarantees 13.0 9.3 TOTAL COLLATERALS 31.5 27.8 Commitments Short-term and low value lease obligations; Less than one year 0.3 0.2 Between one and five years 0.3 0.3 Total short-term and low value lease obligations 0.6 0.5 Other commitments 2.3 18.1 TOTAL COMMITMENTS 2.9 18.6 Collaterals given on behalf of Group companies all relate to commitments to authorities. Short-term and low value obligations consist mainly of laptops. Other commitments include mainly purchase obligations of wine. There are no material contractual commitments for acquisitions of intangible assets. Emission allowances The Group participates in the European Union emission trading scheme, where it has been granted a certain number of carbon dioxide emission allowances for a certain period of time, free of charge. Anora Group Plc discloses its carbon dioxide emission allowances granted free of charge on net basis. The emission allowances granted free are recognised on zero-value. If the Group has sufficient amount of allowances to cover the obligation to deliver allowances corresponding to the amount of emissions made, the obligation is recognised as corresponding value of emissions (zero value). The Group does not recognise income or expenses arising from emission allowances through profit or loss when the emission allowances granted are sufficient to cover the obligation to deliver allowances corresponding to the amount of emissions made. If the realised emissions exceed the granted emission allowances, the obligation arising from the excess emissions is recognised at fair value as a liability in the balance sheet at the reporting date. If the realised emissions fall below the granted emission allowances, the difference is not recognised in the balance sheet but it is disclosed in the notes to the financial statements, measured at fair value. Anora\u2019s actual emissions are below the emission allowances granted. The following table presents changes in allowances for financial years 2023 and 2022, as well as their fair values: Emission allowances, kilotons 2023 2022 Emissions allowances received 22.6 22.6 Excess emission allowances from the previous period 2.0 13.5 Sold emission allowances -2.0 -13.0 Realised emissions -21.6 -21.1 Emission allowances at 31 December 1.0 2.0 Fair value of emission allowances at 31 December, EUR million 0.1 0.2 Anora continues to operate within the emission trading system for the trading period 2021\u20132030.",
"dimensions": {
"concept": "ifrs-full:DisclosureOfCollateralExplanatory",
"language": "en",
"entity": "scheme:52990007AXNSS4PNX352",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"fact-469": {
"value": "6.2 COLLATERALS, COMMITMENTS AND CONTINGENT ASSETS AND LIABILITIES EUR million 2023 2022 Collaterals and commitments Collaterals given on behalf of Group companies Mortgages 18.5 18.5 Guarantees 13.0 9.3 TOTAL COLLATERALS 31.5 27.8 Commitments Short-term and low value lease obligations; Less than one year 0.3 0.2 Between one and five years 0.3 0.3 Total short-term and low value lease obligations 0.6 0.5 Other commitments 2.3 18.1 TOTAL COMMITMENTS 2.9 18.6 Collaterals given on behalf of Group companies all relate to commitments to authorities. Short-term and low value obligations consist mainly of laptops. Other commitments include mainly purchase obligations of wine. There are no material contractual commitments for acquisitions of intangible assets. ",
"dimensions": {
"concept": "ifrs-full:DisclosureOfCommitmentsAndContingentLiabilitiesExplanatory",
"language": "en",
"entity": "scheme:52990007AXNSS4PNX352",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"fact-472": {
"value": "6.3 RELATED PARTY TRANSACTIONS The Company\u2019s related parties include the subsidiaries, associated companies and joint arrangements. The subsidiaries are presented in Note 5.3 and the associated companies and joint arrangements in Note 5.4. Related party transactions associated companies and joint arrangements are not eliminated in the Group\u2019s consolidated financial statements. Related parties also include the Board of Directors, the CEO, the members of the Executive Management Team and their family members as well as entities controlled or jointly controlled by these persons. Also, entities that are controlled or jointly controlled by, or are associates of the State of Finland, are related parties of Anora based on the fact that the State of Finland has significant influence over Anora. Anora has applied the exemption to report only material transactions with the government related entities. Transactions with related parties are entered into on market terms. Anora has related party transactions on a continuous basis with its major customer Alko. Transactions with Alko have been presented below under Other companies considered related parties. The following transactions have taken place with related parties: EUR million 2023 2022 Sales of goods and services Company Relation Alko Finnish government related entity 91.6 89.6 Tiffon SA Associated company 0.2 0.2 Roal Oy Associated company 0.8 0.4 TOTAL 92.7 90.2 Purchases of goods and services Company Relation Alko Finnish government related entity 1.3 1.6 Hoff SA Shareholder 2.2 2.4 Tiffon SA Associated company 4.0 4.8 Palpa Lasi Oy Associated company 1.7 1.5 Beverage Link AS Associated company 0.1 0.1 TOTAL 9.3 10.5 MANAGEMENT REMUNERATION EUR million 2023 2022 CEO Salaries and other short-term employee benefits 0.6 0.5 Performance bonus and the bonuses from long-term incentive plan 0.0 0.7 Pension benefits 0.1 0.1 TOTAL 0.7 1.3 Members of the Executive Management Team (CEO not included) Salaries and other short-term employee benefits 1.5 1.8 Performance bonus and the bonuses from long-term incentive plan 0.0 0.6 Pension benefits 0.2 0.3 TOTAL 1.7 2.7 Members and deputy members of the Board of Directors 0.5 0.6 No monetary loans have been granted to the CEO or the members of the Board of Directors, nor any collaterals or commitments granted on their behalf. The company and the CEO have not agreed on a retirement age EUR million 2023 2022 Outstanding balances from sales and purchases of goods and services Receivables Company Relation Alko Finnish government related entity 3.0 5.2 Tiffon SA Associated company 0.0 0.1 Roal Oy Associated company 0.1 0.1 TOTAL 3.1 5.4 Payables Company Relation Alko Finnish government related entity 0.1 0.2 Hoff SA Shareholder 0.3 0.3 Tiffon SA Associated company 0.0 0.9 Palpa Lasi Oy Associated company 0.2 0.2 Beverage Link AS Associated company 0.0 0.0 TOTAL 0.6 1.7 MANAGEMENT'S SHAREHOLDINGS Executive Management Position Number of shares at 31 Dec 2023 Number of shares at 31 Dec 2022 Jacek Pastuszka CEO 0 0 Sigmund Toth CFO 14,057 14,057 Janne Halttunen SVP, Wine 9,300 9,300 Kirsi Puntila SVP, Spirits 6,666 6,666 Risto Gaggl SVP, Industrial 0 0 Johanna Sund\u00e9n Chief Human Resource Officser (CHRO) 0 0 Mikkel Pilemand Chief Growth Officer (CGO) 0 0 Hannu Tuominen Resigning SVP, Industrial 9,600 9,600 Kirsi Lehtola Resigning Chief Human Resource Officer (CHRO) 5,100 5,100 Pekka Tennil\u00e4 Former CEO 0 32,604 Henrik Bodek\u00e6r Thomsen Former SVP, Spirits 0 258 TOTAL 44,723 77,585 % of total shares 0.07% 0.11% BOARD OF DIRECTOR'S SHAREHOLDINGS Board of Director\u2019s Position Number of shares at 31 Dec 2023 Number of shares at 31 Dec 2022 Michael Holm Johansen Chairperson of the Board 80,000 80,000 Jyrki M\u00e4ki-Kala Vice Chairperson of the Board 13,600 1,232 Kirsten \u00c6gidius Board member 6,100 2,440 Christer Kjos Board member 0 0 Annareetta Lumme-Timonen Board member 4,600 0 Torsten Steenholt Board member 20,000 20,000 Florence Rollet Board member 4,620 0 Arne Larsen Board member 0 0 Jussi Mikkola Board member 100 100 Sanna Suvanto-Harsaae Former Board member 0 3,908 Ingeborg Fl\u00f8nes Former Board member 0 1,900 TOTAL 129,020 109,580 % of total shares 0.19% 0.16%",
"dimensions": {
"concept": "ifrs-full:DisclosureOfRelatedPartyExplanatory",
"language": "en",
"entity": "scheme:52990007AXNSS4PNX352",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"fact-473": {
"value": "The Company\u2019s related parties include the subsidiaries, associated companies and joint arrangements. The subsidiaries are presented in Note 5.3 and the associated companies and joint arrangements in Note 5.4. Related party transactions associated companies and joint arrangements are not eliminated in the Group\u2019s consolidated financial statements. Related parties also include the Board of Directors, the CEO, the members of the Executive Management Team and their family members as well as entities controlled or jointly controlled by these persons. Also, entities that are controlled or jointly controlled by, or are associates of the State of Finland, are related parties of Anora based on the fact that the State of Finland has significant influence over Anora. Anora has applied the exemption to report only material transactions with the government related entities. Transactions with related parties are entered into on market terms. Anora has related party transactions on a continuous basis with its major customer Alko. Transactions with Alko have been presented below under Other companies considered related parties",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForTransactionsWithRelatedPartiesExplanatory",
"language": "en",
"entity": "scheme:52990007AXNSS4PNX352",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"fact-474": {
"value": "MANAGEMENT'S SHAREHOLDINGS Executive Management Position Number of shares at 31 Dec 2023 Number of shares at 31 Dec 2022 Jacek Pastuszka CEO 0 0 Sigmund Toth CFO 14,057 14,057 Janne Halttunen SVP, Wine 9,300 9,300 Kirsi Puntila SVP, Spirits 6,666 6,666 Risto Gaggl SVP, Industrial 0 0 Johanna Sund\u00e9n Chief Human Resource Officser (CHRO) 0 0 Mikkel Pilemand Chief Growth Officer (CGO) 0 0 Hannu Tuominen Resigning SVP, Industrial 9,600 9,600 Kirsi Lehtola Resigning Chief Human Resource Officer (CHRO) 5,100 5,100 Pekka Tennil\u00e4 Former CEO 0 32,604 Henrik Bodek\u00e6r Thomsen Former SVP, Spirits 0 258 TOTAL 44,723 77,585 % of total shares 0.07% 0.11% BOARD OF DIRECTOR'S SHAREHOLDINGS Board of Director\u2019s Position Number of shares at 31 Dec 2023 Number of shares at 31 Dec 2022 Michael Holm Johansen Chairperson of the Board 80,000 80,000 Jyrki M\u00e4ki-Kala Vice Chairperson of the Board 13,600 1,232 Kirsten \u00c6gidius Board member 6,100 2,440 Christer Kjos Board member 0 0 Annareetta Lumme-Timonen Board member 4,600 0 Torsten Steenholt Board member 20,000 20,000 Florence Rollet Board member 4,620 0 Arne Larsen Board member 0 0 Jussi Mikkola Board member 100 100 Sanna Suvanto-Harsaae Former Board member 0 3,908 Ingeborg Fl\u00f8nes Former Board member 0 1,900 TOTAL 129,020 109,580 % of total shares 0.19% 0.16%",
"dimensions": {
"concept": "ifrs-full:DisclosureOfInformationAboutKeyManagementPersonnelExplanatory",
"language": "en",
"entity": "scheme:52990007AXNSS4PNX352",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"fact-475": {
"value": "6.4 SHARE-BASED PAYMENTS Anora Group has a share-based long-term incentive scheme for the company\u2019s management and selected key employees, which are settled in shares. The incentive scheme comprises a performance share plan as well as a bridge plan to cover the transition period into the integrated business operations of Anora Group. The granted shares are measured at fair value at the grant date and are recognised as personnel expenses over the vesting period with corresponding increase in equity. Non-market conditions are not included in fair value of share-based instruments but in the number of instruments that are expected to vest. At each reporting period closing date, the estimates about number of instruments are revised and the impact is recognised in income statement. The objectives of the share-based long-term incentive scheme are to align the interests of Anora Group\u2019s management and key employees with those of the company\u2019s shareholders and, thus, to promote shareholder value creation in the long term, to commit management and key employees to achieving Anora Group\u2019s strategic targets and the retention of Anora Group\u2019s key resources. Performance Share Plan The Performance Share Plan consists of annually commencing individual performance share plans, each with a three-year performance period, followed by the payment of the potential share rewards. The potential share rewards are paid in listed shares of Anora Group. The commencement of each new plan is subject to a separate decision of Anora Group\u2019s Board of Directors Performance share plan 2022\u20132024
The performance share plan 2022\u20132024 (PSP 2022\u20132024)
commences effective as of the beginning of 2022 and the share
rewards payable thereunder will be paid during H1 2025. The payment
of the rewards is conditional on the achievement of the performance
targets which the Board of Directors has set for the plan.
The performance measures based on which the potential share
reward under PSP 2022\u20132024 will be paid, are revenue growth,
earnings per share (EPS), the relative total shareholder return of
the Company\u2019s share and a measure linked to the reduction of CO
2
emissions.
Eligible for participation in PSP 2022\u20132024 are 33 individuals,
including the members of Anora Group\u2019s Executive Management
Team.
If all the performance targets set for this plan are fully achieved,
the aggregate maximum number of shares to be paid based on this
plan is approximately 304,517 shares (referring to gross earnings
before the withholding of the applicable payroll tax).
The estimated aggregate gross value of this plan, based on
the current value of Anora Group\u2019s share, is approximately EUR 1.3
million. The materialised value of the plan may deviate from this
estimate as a result of share price development and the degree to
which the performance targets set for the plan are achieved.
Performance share plan 2023\u20132025
The performance share plan 2023\u20132025 (PSP 2023\u20132025)
commences effective as of the beginning of 2023 and the share
rewards payable thereunder will be paid during H1 2026. The payment
of the rewards is conditional on the achievement of the performance
targets which the Board of Directors has set for the plan.
The performance measures based on which the potential share
reward under PSP 2023\u20132025 will be paid, are revenue growth,
earnings per share (EPS), the relative total shareholder return of
the Company\u2019s share and a measure linked to ESG \u2013 Sustainalytics
ESG Risk Rating Score.
SHARE-BASED PAYMENTS
Plan Performance Share Plan Performance Share Plan 2022-2024 Performance Share Plan 2023-2025
Type Share Share Share
Instrument Performance Period 2022\u20132023 Performance Period 2022\u20132024 Performance Period 2023\u20132025
Grant date 17.06.2022 17.06.2022 06.03.2023
Beginning of earning period 01.01.2022 01.01.2022 01.01.2023
End of earning period 31.03.2023 31.03.2024 31.03.2025
Vesting date 31.03.2024 31.03.2025 31.03.2026
Vesting conditions Revenue, EPS, Relative TSR & ESG Revenue, EPS, Relative TSR & ESG Revenue, EPS, Relative TSR & ESG
Maximum contractual life, years 2.25 3.25 3.25
Remaining contractual life, years 0.25 1.25 2.25
Number of persons at the end of reporting year 33 33 40
Payment method Equity & Cash Equity & Cash Equity & Cash
Changes during period
Outstanding in the beginning of the period 251,800 380,400 0
Granted during period 1,500 2,667 468,033
Forfeited during period -30,300 -78,550 -25,100
Extercised during period 0 0 0
Outstanding at the end of the period 223,000 304,517 442,933
Valuation parameters for instruments granted
during period
Shareprice at grant, EUR 6.07
Shareprice at reporting period end, EUR 4.36
Expected dividends, EUR 0.82
Risk free rate, % 3.1 %
Volatility, % 23.8 %
Valuation model Monte Carlo
Fair value 31.12, EUR 563,120
Eligible for participation in PSP 2023\u20132025 are 33 individuals,
including the members of Anora Group\u2019s Executive Management
Team.
If all the performance targets set for this plan are fully achieved,
the aggregate maximum number of shares to be paid based on this
plan is approximately 442,933 shares (referring to gross earnings
before the withholding of the applicable payroll tax).
The estimated aggregate gross value of the PSP 2023\u20132025, based
on the current value of Anora Group\u2019s share, is approximately EUR
1.9 million. The materialised value of the plan may deviate from this
estimate as a result of share price development and the degree to
which the performance targets set for the plan are achieved.
Bridge Plan for the years 2022\u20132023
The Bridge Plan was established to cover specific incentive and
retention needs during the transaction related transition period
during which the joint businesses of Altia Plc and Arcus ASA were
integrated in connection with the formation of Anora Group.
The Bridge Plan was a one-off plan commencing effective as of
the beginning of 2022 and its performance period covered the years
2022\u20132023. The potential share rewards payable based on the Bridge
Plan would have been paid in listed shares of Anora Group during
H1 2024. The payment of the share rewards was conditional on
the achievement of the performance targets which the Board of
Directors has set for the plan. These performance targets were not
met, and there will therefore not be any rewards based on this bridge
plan in 2024.
Other terms
The value of the reward payable to participants based on the plans is
limited by a share price development-based cutter.
If the individual\u2019s employment with Anora Group terminates
before the payment of the reward, the individual is, as a main rule,
not entitled to any reward based on the respective plan.
EFFECT OF SHARE-BASED INCENTIVES ON THE RESULT:
EUR million 2023 2022
Expenses for the financial year,
sharebased payments paid in equity 0.0 0.6
Expenses for the financial year,
sharebased payments paid in cash 0.0 0.0
Total 0.0 0.6
EUR million 2023 2022
Liabilities arising from share-based
payments 31.12. 0.0 0.0
Total 0.0 0.0
",
"dimensions": {
"concept": "ifrs-full:DisclosureOfSharebasedPaymentArrangementsExplanatory",
"language": "en",
"entity": "scheme:52990007AXNSS4PNX352",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"fact-476": {
"value": "Anora Group has a share-based long-term incentive scheme for the company\u2019s management and selected key employees, which are settled in shares. The incentive scheme comprises a performance share plan as well as a bridge plan to cover the transition period into the integrated business operations of Anora Group. The granted shares are measured at fair value at the grant date and are recognised as personnel expenses over the vesting period with corresponding increase in equity. Non-market conditions are not included in fair value of share-based instruments but in the number of instruments that are expected to vest. At each reporting period closing date, the estimates about number of instruments are revised and the impact is recognised in income statement.",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForSharebasedPaymentTransactionsExplanatory",
"language": "en",
"entity": "scheme:52990007AXNSS4PNX352",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"fact-477": {
"value": "6.5 EVENTS AFTER THE REPORTING PERIOD Anora announced on 8 January 2024 that Anora Group\u2019s CFO Sigmund Toth has resigned from his position. He will continue in his current position until 1 August 2024, at the latest. Sigmund remains highly committed to contribute to the company\u2019s success during his notice period, including ensuring a smooth handover to his successor. The Board of Directors of Anora Group Plc announced on 14 February 2024 that it has approved the commencement of a new plan period within the share-based long-term incentive scheme for the management and selected key employees. Eligible for participation in PSP 2024-2026 are approximately 50 individuals, including the members of Anora Group\u2019s Executive Management Team. If the performance targets set for PSP 2024\u20132026 are fully achieved, the aggregate maximum number of shares to be paid based on this plan is approximately 1,294,000 shares (referring to gross earning before the withholding of the applicable payroll tax). The aggregate maximum number of shares to be paid in specifi c situations based on RSP 2024\u20132026 is approximately 129,000 shares (referring to gross earning before the withholding of the applicable payroll tax). Anora announced on 8 March 2024 that Stein Eriksen (49), M.Sc. (Econ.), has been appointed as CFO and a member of the Executive Management Team of Anora Group from the beginning of August 2024. He will report to Jacek Pastuszka, CEO. Stein Eriksen\u2019s latest position has been CFO of the Norwegian stock-listed company XXL ASA, the largest sports retailer in the Nordic countries. He has also acted in a combined role as the Interim CEO and CFO of XXL ASA. Prior to that, he has had a long career at the Norwegian stock-listed blue-chip company Orkla, a leading industrial investment company focused on brands and consumer-oriented companies. At Orkla, Stein\u2019s most recent positions were CFO at Orkla Care and SVP Finance at Orkla ASA",
"dimensions": {
"concept": "ifrs-full:DisclosureOfEventsAfterReportingPeriodExplanatory",
"language": "en",
"entity": "scheme:52990007AXNSS4PNX352",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
}
}
}