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"value": "Section 1 \u2013 Basis for preparation \u00a0
This section provides the overall \u00a0
\n\t\t\t\t\treporting framework applied \u00a0
\n\t\t\t\t\tin our consolidated financial \u00a0
\n\t\t\t\t\tstatements. Specific accounting \u00a0
\n\t\t\t\t\tpolicies applied are described \u00a0
\n\t\t\t\t\tin the relevant sections, \u00a0
\n\t\t\t\t\twhile new and upcomming \u00a0
\n\t\t\t\t\tlegislastion is presented in note \u00a0
\n\t\t\t\t\t1.2, and significant estimates \u00a0
\n\t\t\t\t\tand judgements exercised by \u00a0
\n\t\t\t\t\tmanagement as part of the \u00a0
\n\t\t\t\t\tpreparation of this Annual Report \u00a0
\n\t\t\t\t\tis described in note 1.3. \u00a0
1.1 General accounting policies \u00a0
Introduction \u00a0
\n\t\t\t\t\tThe 2022 Annual Report for NKT Group, comprising \u00a0
\n\t\t\t\t\tboth the consolidated financial statements for NKT \u00a0
\n\t\t\t\t\tA/S and its subsidiaries (NKT Group) as well as the \u00a0
\n\t\t\t\t\tseparate financial statements for the parent company, \u00a0
\n\t\t\t\t\thas been prepared in accordance with International \u00a0
\n\t\t\t\t\tFinancial Reporting Standards, IFRS, as adopted by \u00a0
\n\t\t\t\t\tthe EU and additional Danish disclosure requirements \u00a0
\n\t\t\t\t\tfor annual reports for listed companies. \u00a0
\n\t\t\t\t\tThe Annual Report has been approved by the Board \u00a0
\n\t\t\t\t\tof Directors and Executive Management on 22 \u00a0
\n\t\t\t\t\tFebruary 2023, an will be presented for approval by \u00a0
\n\t\t\t\t\tthe shareholders at the Annual General Meeting on \u00a0
\n\t\t\t\t\t23 March 2023. \u00a0
Basis for preparation \u00a0
\n\t\t\t\t\tThe Annual Report is presented in EUR rounded to \u00a0
\n\t\t\t\t\tthe nearest EUR 1,000,000 with one decimal. The \u00a0
\n\t\t\t\t\tAnnual Report is prepared according to the historical \u00a0
\n\t\t\t\t\tcost principle with the exception that derivatives and \u00a0
\n\t\t\t\t\tfinancial instruments, classified as fair value through \u00a0
\n\t\t\t\t\tprofit loss (FVTPL), are measured at fair value. \u00a0
\n\t\t\t\t\tThe accounting policies described below and in the \u00a0
\n\t\t\t\t\tindividual sections have been applied consistently \u00a0
\n\t\t\t\t\tduring the financial year and for the comparative \u00a0
\n\t\t\t\t\tfigures. For standards implemented prospectively the \u00a0
\n\t\t\t\t\tcomparative figures have not been restated. \u00a0
\n\t\t\t\t\tAs part of the preparation of the Annual Report, the \u00a0
\n\t\t\t\t\tBoard of Directors and Executive Management have \u00a0
\n\t\t\t\t\tconsidered whether the financial statements can \u00a0
\n\t\t\t\t\tbe presented on a \u2018going concern\u2019 basis. Based on \u00a0
\n\t\t\t\t\tfuture prospects, considering identified uncertainties \u00a0
\n\t\t\t\t\tand risks, expectations of future cash flows and exist- \u00a0
\n\t\t\t\t\tence of credit facilities it is concluded that, at the time \u00a0
\n\t\t\t\t\tof the approval of the Annual Report, the financial \u00a0
\n\t\t\t\t\theadroom is sufficient to manage the level of activity \u00a0
\n\t\t\t\t\texpected in 2023 for the NKT Group. \u00a0
Applying materiality \u00a0
\n\t\t\t\t\tIFRS contains extensive disclosure requirements. The \u00a0
\n\t\t\t\t\tspecific disclosures required according to IFRS are \u00a0
\n\t\t\t\t\tstated in the Annual Report unless the disclosures \u00a0
\n\t\t\t\t\tare considered irrelevant or immaterial, in which \u00a0
\n\t\t\t\t\tcase these are omitted or aggregated in order to \u00a0
\n\t\t\t\t\tincrease focus on material drivers behind the financial \u00a0
\n\t\t\t\t\tperformance. \u00a0
\n\t\t\t\t\tWith materiality in mind, the presentation throughout \u00a0
\n\t\t\t\t\tthe financial statements focus on the accounting \u00a0
\n\t\t\t\t\tchoices made to establish the NKT accounting \u00a0
\n\t\t\t\t\tpolicies as well as the significant estimates and \u00a0
\n\t\t\t\t\tjudgement exercised by management, while avoiding \u00a0
\n\t\t\t\t\tthe replication of more generic accounting policies \u00a0
\n\t\t\t\t\tand standards. \u00a0
Principles of consolidation \u00a0
\n\t\t\t\t\tThe consolidated financial statements comprise the \u00a0
\n\t\t\t\t\tfinancial statements of the parent company (NKT A/S) \u00a0
\n\t\t\t\t\tand the individual subsidiaries\u2019 financial statements \u00a0
\n\t\t\t\t\tprepared according to NKT Group\u2019s accounting poli- \u00a0
\n\t\t\t\t\tcies. Subsidiaries are fully consolidated from the date \u00a0
\n\t\t\t\t\tof acquisition, being the date on which NKT obtains \u00a0
\n\t\t\t\t\tcontrol, until the date that such control ceases. \u00a0
\n\t\t\t\t\tAll intercompany balances, income and expenses, \u00a0
\n\t\t\t\t\tunrealized gains and losses and dividends resulting \u00a0
\n\t\t\t\t\tfrom intercompany transactions are eliminated in full. \u00a0
Foreign currency translation \u00a0
\n\t\t\t\t\tTransactions in foreign currencies are initially \u00a0
\n\t\t\t\t\trecognized in the Group entities at their respective \u00a0
\n\t\t\t\t\tfunctional currency rates prevailing at the date of the \u00a0
\n\t\t\t\t\ttransaction. Monetary assets and liabilities denom- \u00a0
\n\t\t\t\t\tinated in foreign currencies are translated at the \u00a0
\n\t\t\t\t\tfunctional currency spot rate at the reporting date. All \u00a0
\n\t\t\t\t\tadjustments are recognized in the income statement. \u00a0
Non-monetary items that are measured at historical \u00a0
\n\t\t\t\t\tcost in a foreign currency are translated using the \u00a0
\n\t\t\t\t\texchange rates at the dates of the initial transactions. \u00a0
\n\t\t\t\t\tNon-monetary items measured at fair value in a for- \u00a0
\n\t\t\t\t\teign currency are translated using the exchange rates \u00a0
\n\t\t\t\t\tat the date, when the fair value is determined. \u00a0
\n\t\t\t\t\tThe assets and liabilities of foreign subsidiaries are \u00a0
\n\t\t\t\t\ttranslated into EUR at the rate of exchange prevailing \u00a0
\n\t\t\t\t\tat the reporting date, and their income statements \u00a0
\n\t\t\t\t\tare translated at average exchange rates. Exchange \u00a0
\n\t\t\t\t\trate adjustments arising on translation are recognized \u00a0
\n\t\t\t\t\tin other comprehensive income. On disposal of a for- \u00a0
\n\t\t\t\t\teign operation, the component of other comprehen- \u00a0
\n\t\t\t\t\tsive income relating to that operation is recognized in \u00a0
\n\t\t\t\t\tthe income statement. \u00a0
Alternative performance measures (APMs) \u00a0
\n\t\t\t\t\tThe consolidated financial statement includes \u00a0
\n\t\t\t\t\tfinancial performance measures that are not defined \u00a0
\n\t\t\t\t\taccording to IFRS. \u00a0
\n\t\t\t\t\tThese measures are considered to provide valuable \u00a0
\n\t\t\t\t\tinformation to stakeholders and Management. Since \u00a0
\n\t\t\t\t\tother companies might calculate these differently \u00a0
\n\t\t\t\t\tfrom NKT Group, they may not be comparable to the \u00a0
\n\t\t\t\t\tmeasures applied by other companies. These finan- \u00a0
\n\t\t\t\t\tcial measures should therefore not be considered a \u00a0
\n\t\t\t\t\treplacement for performance measures as defined \u00a0
\n\t\t\t\t\tunder IFRS, but rather as supplementary information. \u00a0
\n\t\t\t\t\tAlternative performance measures are defined in note \u00a0
\n\t\t\t\t\t7.4 in more detail and some are reconciled to IFRS \u00a0
\n\t\t\t\t\tmeasures in note 2.1. \u00a0
Reporting under the ESEF regulation \u00a0
\n\t\t\t\t\tThe Commission Delegated Regulation (EU) \u00a0
\n\t\t\t\t\t2019/815 on the European Single Electronic Format \u00a0
\n\t\t\t\t\t(ESEF Regulation) has introduced a single electronic \u00a0
\n\t\t\t\t\treporting format for the annual financial statements \u00a0
\n\t\t\t\t\tof issuers with securities listed on the EU regulated \u00a0
\n\t\t\t\t\tmarkets. \u00a0
\n\t\t\t\t\tThe applied tagging by the Group has been prepared \u00a0
\n\t\t\t\t\tin accordance with the ESEF taxonomy included in \u00a0
\n\t\t\t\t\tthe ESEF regulation and developed based on the \u00a0
\n\t\t\t\t\tIFRS taxonomy published by the IFRS Foundation. \u00a0
\n\t\t\t\t\tThe Annual Report submitted to the Danish Financial \u00a0
\n\t\t\t\t\tSupervisory Authority consists of the XHTML docu- \u00a0
\n\t\t\t\t\tment together with the technical files included in the \u00a0
\n\t\t\t\t\tZIP file nkt-2022-12-31-en.zip. \u00a0
Accounting policy \u00a0
\n\t\t\t\t\tApart from the more general acounting policy items \u00a0
\n\t\t\t\t\tpresented above, specific accounting policies are \u00a0
\n\t\t\t\t\tincluded in the sections to which they relate in order \u00a0
\n\t\t\t\t\tto facilitate a better understanding of the contents \u00a0
\n\t\t\t\t\tand the accounting treatment applied. \u00a0
1.2 Implementation of new and \u00a0
\n\t\t\t\t\tamended accounting standards \u00a0
\n\t\t\t\t\tand interpretations \u00a0
New standards, interpretations and \u00a0
\n\t\t\t\t\tamendments adopted by NKT Group \u00a0
\n\t\t\t\t\tNKT Group has adopted all new or amended stand- \u00a0
\n\t\t\t\t\tards (IFRS) and interpretations (IFRIC) as adopted by \u00a0
\n\t\t\t\t\tthe EU and which are effective for the financial year 1 \u00a0
\n\t\t\t\t\tJanuary \u2013 31 December 2022. \u00a0
\n\t\t\t\t\tOn 1 January 2022, amendments to IFRS 3 Business \u00a0
\n\t\t\t\t\tCombinations; IAS 16 Property, Plant and Equipment; \u00a0
\n\t\t\t\t\tIAS 37 Provisions, Contingent Liabilities and Contin- \u00a0
\n\t\t\t\t\tgent Assets, and Annual Improvements 2018-2020 \u00a0
\n\t\t\t\t\tbecame effective. \u00a0
\n\t\t\t\t\tNone of the amendments had a material impact on \u00a0
\n\t\t\t\t\tthe NKT Group. \u00a0
New standards, interpretations and \u00a0
\n\t\t\t\t\tamendments not yet adopted by NKT Group \u00a0
\n\t\t\t\t\tIASB has issued a number of new or amended \u00a0
\n\t\t\t\t\taccounting standards and interpretations, some of \u00a0
\n\t\t\t\t\twhich are not yet endorsed by EU, and which are \u00a0
\n\t\t\t\t\tnot mandatory for reporting periods ending at 31 De- \u00a0
\n\t\t\t\t\tcember 2022. NKT Group expect to implement these \u00a0
\n\t\t\t\t\tnew and amended standards, when they become \u00a0
\n\t\t\t\t\tmandatory. \u00a0
\n\t\t\t\t\tNone of the standards and interpretations are expect- \u00a0
\n\t\t\t\t\ted to have a material impact on the NKT Group. \u00a0
1.3 Significant estimates and judgements \u00a0
When preparing this Annual Report, Management \u00a0
\n\t\t\t\t\thas made a number of accounting judgements in \u00a0
\n\t\t\t\t\tapplying the accounting policies, which form the \u00a0
\n\t\t\t\t\tbasis for the recognition and measurement of assets, \u00a0
\n\t\t\t\t\tliabilities and disclosures provided. Further, Manage- \u00a0
\n\t\t\t\t\tment provides significant estimates regarding future \u00a0
\n\t\t\t\t\tdevelopments. These are regularly reassessed based \u00a0
\n\t\t\t\t\ton historical experience and other factors, which \u00a0
\n\t\t\t\t\tManagement assesses to be reliable, but which, \u00a0
\n\t\t\t\t\tby their nature, are associated with uncertainty and \u00a0
\n\t\t\t\t\tunpredictability. \u00a0
Significant estimates and judgements are predomi- \u00a0
\n\t\t\t\t\tnantly applied in relation to the recognition of revenue \u00a0
\n\t\t\t\t\tfrom construction contracts, impairment of goodwill \u00a0
\n\t\t\t\t\tand assessing the value of deferred tax assets. These \u00a0
\n\t\t\t\t\tassumptions may prove incomplete or incorrect, \u00a0
\n\t\t\t\t\tand unexpected events or circumstances may arise, \u00a0
\n\t\t\t\t\tbut the assumptions are considered reasonable and \u00a0
\n\t\t\t\t\treliable under the circumstances. \u00a0
\n\t\t\t\t\tFrom Management perspective the following esti- \u00a0
\n\t\t\t\t\tmates and judgements are considered significant \u00a0
\n\t\t\t\t\tand the applied estimates and judgements are further \u00a0
\n\t\t\t\t\tdescribed in the respective notes. \u00a0
Significant accounting \u00a0
\n\t\t\t\t\tImpact \u00a0
\n\t\t\t\t\tNote \u00a0
\n\t\t\t\t\testimate and judgement \u00a0
\n\t\t\t\t\tEstimate/ Judgement \u00a0
\n\t\t\t\t\tassessment1 \u00a0
\n\t\t\t\t\t2.1 Segment \u00a0
\n\t\t\t\t\tDetermine revenue recognition \u00a0
\n\t\t\t\t\tJudgement and estimate \u00a0
\n\t\t\t\t\tinformation \u00a0
\n\t\t\t\t\tfor projects (PoC) \u00a0
\n\t\t\t\t\tand revenue \u00a0
\n\t\t\t\t\t4.4 Contract \u00a0
\n\t\t\t\t\tValuation of construction contracts \u00a0
\n\t\t\t\t\tJudgement and estimate \u00a0
\n\t\t\t\t\tassets and \u00a0
\n\t\t\t\t\tliabilities \u00a0
\n\t\t\t\t\t2.5 Tax \u00a0
\n\t\t\t\t\tValuation of deferred tax assets \u00a0
\n\t\t\t\t\tJudgement and estimate \u00a0
\n\t\t\t\t\t3.3 Impairment \u00a0
\n\t\t\t\t\tEstimate the value-in-use of intangible \u00a0
\n\t\t\t\t\tEstimate \u00a0
\n\t\t\t\t\tof assets \u00a0
\n\t\t\t\t\tand tangible long-term assets \u00a0
\n\t\t\t\t\t7.3 Contingent \u00a0
\n\t\t\t\t\tDetermine recognition and \u00a0
\n\t\t\t\t\tJudgement and estimate \u00a0
\n\t\t\t\t\tliabilities \u00a0
\n\t\t\t\t\tmeasurement of obligations \u00a0
\n\t\t\t\t\t1 The numbers of boxes in the above assessment indicate the level of estimates and judgment applied, where five being the highest. \u00a0
Significant estimates \u00a0
\n\t\t\t\t\tA description of the Significant judgements and \u00a0
\n\t\t\t\t\taccounting estimates provided by Management are in- \u00a0
\n\t\t\t\t\tcluded in the respective sections to which they relate. \u00a0
Sensitivity \u00a0
\n\t\t\t\t\tSensitivity analyses often accompany significant \u00a0
\n\t\t\t\t\tjudgements and accounting estimates, and are \u00a0
\n\t\t\t\t\tincluded in the sections to which they relate. \u00a0
Section 2 \u2013 Profit for the year \u00a0
This section relates to profit for the \u00a0
\n\t\t\t\t\tyear, including revenue, segment \u00a0
\n\t\t\t\t\tinformation, staff costs, share- \u00a0
\n\t\t\t\t\tbased payments, research and \u00a0
\n\t\t\t\t\tdevelopment costs and tax. \u00a0
2.1 Segment information and revenue \u00a0
\n\t\t\t\t\tService & \u00a0
\n\t\t\t\t\tIntersegment \u00a0
\n\t\t\t\t\tAmounts in EURm \u00a0
\n\t\t\t\t\tSolutions \u00a0
\n\t\t\t\t\tApplications \u00a0
\n\t\t\t\t\tAccessories Non
allocated \u00a0
\n\t\t\t\t\ttransact. \u00a0
\n\t\t\t\t\tTotal NKT \u00a0
\n\t\t\t\t\t2022 \u00a0
\n\t\t\t\t\tIncome statement \u00a0
\n\t\t\t\t\tGoods1) \u00a0
\n\t\t\t\t\t46.7 \u00a0
\n\t\t\t\t\t1,066.7 \u00a0
\n\t\t\t\t\t132.8 \u00a0
\n\t\t\t\t\t0.0 \u00a0
\n\t\t\t\t\t-38.2 \u00a0
\n\t\t\t\t\t1,208.0 \u00a0
\n\t\t\t\t\tService, etc.1) \u00a0
\n\t\t\t\t\t16.9 \u00a0
\n\t\t\t\t\t0.0 \u00a0
\n\t\t\t\t\t7.3 \u00a0
\n\t\t\t\t\t0.0 \u00a0
\n\t\t\t\t\t-2.6 \u00a0
\n\t\t\t\t\t21.6 \u00a0
\n\t\t\t\t\tConstruction contracts2) \u00a0
\n\t\t\t\t\t803.5 \u00a0
\n\t\t\t\t\t0.0 \u00a0
\n\t\t\t\t\t53.2 \u00a0
\n\t\t\t\t\t0.0 \u00a0
\n\t\t\t\t\t-7.3 \u00a0
\n\t\t\t\t\t849.4 \u00a0
\n\t\t\t\t\tRevenue (market prices) \u00a0
\n\t\t\t\t\t867.1 \u00a0
\n\t\t\t\t\t1,066.7 \u00a0
\n\t\t\t\t\t193.3 \u00a0
\n\t\t\t\t\t0.0 \u00a0
\n\t\t\t\t\t-48.1 \u00a0
\n\t\t\t\t\t2,079.0 \u00a0
\n\t\t\t\t\tAdjustment of market prices to std. metal prices \u00a0
\n\t\t\t\t\t-117.6 \u00a0
\n\t\t\t\t\t-514.7 \u00a0
\n\t\t\t\t\t-0.1 \u00a0
\n\t\t\t\t\t0.0 \u00a0
\n\t\t\t\t\t0.2 \u00a0
\n\t\t\t\t\t-632.2 \u00a0
\n\t\t\t\t\tRevenue (std. metal prices) \u00a0
\n\t\t\t\t\t749.5 \u00a0
\n\t\t\t\t\t552.0 \u00a0
\n\t\t\t\t\t193.2 \u00a0
\n\t\t\t\t\t0.0 \u00a0
\n\t\t\t\t\t-47.9 \u00a0
\n\t\t\t\t\t1,446.8 \u00a0
\n\t\t\t\t\tCosts and other income, net (excl. one-off items) \u00a0
\n\t\t\t\t\t-761.2 \u00a0
\n\t\t\t\t\t-1,038.2 \u00a0
\n\t\t\t\t\t-167.6 \u00a0
\n\t\t\t\t\t-5.6 \u00a0
\n\t\t\t\t\t48.1 \u00a0
\n\t\t\t\t\t-1,924.5 \u00a0
\n\t\t\t\t\tOperational EBITDA \u00a0
\n\t\t\t\t\t105.9 \u00a0
\n\t\t\t\t\t28.5 \u00a0
\n\t\t\t\t\t25.7 \u00a0
\n\t\t\t\t\t-5.6 \u00a0
\n\t\t\t\t\t0.0 \u00a0
\n\t\t\t\t\t154.5 \u00a0
\n\t\t\t\t\tDepreciation, amortization and impairment \u00a0
\n\t\t\t\t\t-64.3 \u00a0
\n\t\t\t\t\t-14.9 \u00a0
\n\t\t\t\t\t-4.2 \u00a0
\n\t\t\t\t\t-2.0 \u00a0
\n\t\t\t\t\t0.0 \u00a0
\n\t\t\t\t\t-85.4 \u00a0
\n\t\t\t\t\tOperational EBIT \u00a0
\n\t\t\t\t\t41.6 \u00a0
\n\t\t\t\t\t13.6 \u00a0
\n\t\t\t\t\t21.5 \u00a0
\n\t\t\t\t\t-7.6 \u00a0
\n\t\t\t\t\t0.0 \u00a0
\n\t\t\t\t\t69.1 \u00a0
\n\t\t\t\t\tWorking capital \u00a0
\n\t\t\t\t\t-437.2 \u00a0
\n\t\t\t\t\t89.7 \u00a0
\n\t\t\t\t\t36.2 \u00a0
\n\t\t\t\t\t8.3 \u00a0
\n\t\t\t\t\t0.0 \u00a0
\n\t\t\t\t\t-303.0 \u00a0
\n\t\t\t\t\t2021 \u00a0
\n\t\t\t\t\tIncome statement \u00a0
\n\t\t\t\t\tGoods1) \u00a0
\n\t\t\t\t\t37.4 \u00a0
\n\t\t\t\t\t900.0 \u00a0
\n\t\t\t\t\t118.8 \u00a0
\n\t\t\t\t\t0.0 \u00a0
\n\t\t\t\t\t-21.2 \u00a0
\n\t\t\t\t\t1,035.0 \u00a0
\n\t\t\t\t\tService, etc.1) \u00a0
\n\t\t\t\t\t15.2 \u00a0
\n\t\t\t\t\t0.0 \u00a0
\n\t\t\t\t\t6.7 \u00a0
\n\t\t\t\t\t0.0 \u00a0
\n\t\t\t\t\t-2.9 \u00a0
\n\t\t\t\t\t19.0 \u00a0
\n\t\t\t\t\tConstruction contracts2) \u00a0
\n\t\t\t\t\t702.6 \u00a0
\n\t\t\t\t\t0.0 \u00a0
\n\t\t\t\t\t80.5 \u00a0
\n\t\t\t\t\t0.0 \u00a0
\n\t\t\t\t\t-9.2 \u00a0
\n\t\t\t\t\t773.9 \u00a0
\n\t\t\t\t\tRevenue (market prices) \u00a0
\n\t\t\t\t\t755.2 \u00a0
\n\t\t\t\t\t900.0 \u00a0
\n\t\t\t\t\t206.0 \u00a0
\n\t\t\t\t\t0.0 \u00a0
\n\t\t\t\t\t-33.3 \u00a0
\n\t\t\t\t\t1,827.9 \u00a0
\n\t\t\t\t\tAdjustment of market prices to std. metal prices \u00a0
\n\t\t\t\t\t-115.1 \u00a0
\n\t\t\t\t\t-449.8 \u00a0
\n\t\t\t\t\t-0.2 \u00a0
\n\t\t\t\t\t0.0 \u00a0
\n\t\t\t\t\t0.3 \u00a0
\n\t\t\t\t\t-564.8 \u00a0
\n\t\t\t\t\tRevenue (std. metal prices) \u00a0
\n\t\t\t\t\t640.1 \u00a0
\n\t\t\t\t\t450.2 \u00a0
\n\t\t\t\t\t205.8 \u00a0
\n\t\t\t\t\t0.0 \u00a0
\n\t\t\t\t\t-33.0 \u00a0
\n\t\t\t\t\t1,263.1 \u00a0
\n\t\t\t\t\tCosts and other income, net (excl. one-off items) \u00a0
\n\t\t\t\t\t-672.1 \u00a0
\n\t\t\t\t\t-871.5 \u00a0
\n\t\t\t\t\t-173.2 \u00a0
\n\t\t\t\t\t-13.3 \u00a0
\n\t\t\t\t\t33.3 \u00a0
\n\t\t\t\t\t-1,696.8 \u00a0
\n\t\t\t\t\tOperational EBITDA \u00a0
\n\t\t\t\t\t83.1 \u00a0
\n\t\t\t\t\t28.5 \u00a0
\n\t\t\t\t\t32.8 \u00a0
\n\t\t\t\t\t-13.3 \u00a0
\n\t\t\t\t\t0.0 \u00a0
\n\t\t\t\t\t131.1 \u00a0
\n\t\t\t\t\tDepreciation, amortization and impairment \u00a0
\n\t\t\t\t\t-69.1 \u00a0
\n\t\t\t\t\t-15.4 \u00a0
\n\t\t\t\t\t-4.4 \u00a0
\n\t\t\t\t\t-5.6 \u00a0
\n\t\t\t\t\t0.0 \u00a0
\n\t\t\t\t\t-94.5 \u00a0
\n\t\t\t\t\tOperational EBIT \u00a0
\n\t\t\t\t\t14.0 \u00a0
\n\t\t\t\t\t13.1 \u00a0
\n\t\t\t\t\t28.4 \u00a0
\n\t\t\t\t\t-18.9 \u00a0
\n\t\t\t\t\t0.0 \u00a0
\n\t\t\t\t\t36.6 \u00a0
\n\t\t\t\t\tWorking capital \u00a0
\n\t\t\t\t\t-152.8 \u00a0
\n\t\t\t\t\t64.3 \u00a0
\n\t\t\t\t\t22.6 \u00a0
\n\t\t\t\t\t-27.3 \u00a0
\n\t\t\t\t\t0.0 \u00a0
\n\t\t\t\t\t-93.2 \u00a0
\n\t\t\t\t\tRevenue from the sale of goods and services are recognized at a point in time. \u00a0
\n\t\t\t\t\t1) \u00a0
\n\t\t\t\t\t2) \u00a0
\n\t\t\t\t\tRevenue from construction contracts are recognized over time. \u00a0
Amounts in EURm \u00a0
\n\t\t\t\t\t2022 \u00a0
\n\t\t\t\t\t2021 \u00a0
\n\t\t\t\t\tReconciliation to net result \u00a0
\n\t\t\t\t\tOperational EBITDA \u00a0
\n\t\t\t\t\t154.5 \u00a0
\n\t\t\t\t\t131.1 \u00a0
\n\t\t\t\t\tOne-off items \u00a0
\n\t\t\t\t\t0.1 \u00a0
\n\t\t\t\t\t-12.7 \u00a0
\n\t\t\t\t\tEBITDA \u00a0
\n\t\t\t\t\t154.6 \u00a0
\n\t\t\t\t\t118.4 \u00a0
\n\t\t\t\t\tDepreciation, amortization and impairment \u00a0
\n\t\t\t\t\t-85.4 \u00a0
\n\t\t\t\t\t-94.5 \u00a0
\n\t\t\t\t\tEBIT \u00a0
\n\t\t\t\t\t69.2 \u00a0
\n\t\t\t\t\t23.9 \u00a0
\n\t\t\t\t\tFinancial items, net \u00a0
\n\t\t\t\t\t9.1 \u00a0
\n\t\t\t\t\t-8.2 \u00a0
\n\t\t\t\t\tEBT \u00a0
\n\t\t\t\t\t78.3 \u00a0
\n\t\t\t\t\t15.7 \u00a0
\n\t\t\t\t\tTax \u00a0
\n\t\t\t\t\t-23.2 \u00a0
\n\t\t\t\t\t-3.8 \u00a0
\n\t\t\t\t\tNet result - continuing operations \u00a0
\n\t\t\t\t\t55.1 \u00a0
\n\t\t\t\t\t11.9 \u00a0
\n\t\t\t\t\tNet result - discontinued operations \u00a0
\n\t\t\t\t\t7.3 \u00a0
\n\t\t\t\t\t-7.8 \u00a0
\n\t\t\t\t\tNet result \u00a0
\n\t\t\t\t\t62.4 \u00a0
\n\t\t\t\t\t4.1 \u00a0
Geographical information \u00a0
\n\t\t\t\t\tProperty, plant \u00a0
\n\t\t\t\t\tand equitment and \u00a0
\n\t\t\t\t\tRevenue \u00a0
\n\t\t\t\t\tintangible assets \u00a0
\n\t\t\t\t\tAmounts in EURm \u00a0
\n\t\t\t\t\t2022 \u00a0
\n\t\t\t\t\t2021 \u00a0
\n\t\t\t\t\t2022 \u00a0
\n\t\t\t\t\t2021 \u00a0
\n\t\t\t\t\tDenmark \u00a0
\n\t\t\t\t\t120.5 \u00a0
\n\t\t\t\t\t126.1 \u00a0
\n\t\t\t\t\t11.5 \u00a0
\n\t\t\t\t\t46.3 \u00a0
\n\t\t\t\t\tGermany \u00a0
\n\t\t\t\t\t679.1 \u00a0
\n\t\t\t\t\t614.1 \u00a0
\n\t\t\t\t\t324.5 \u00a0
\n\t\t\t\t\t309.9 \u00a0
\n\t\t\t\t\tSweden \u00a0
\n\t\t\t\t\t154.8 \u00a0
\n\t\t\t\t\t150.4 \u00a0
\n\t\t\t\t\t837.3 \u00a0
\n\t\t\t\t\t833.8 \u00a0
\n\t\t\t\t\tUK \u00a0
\n\t\t\t\t\t359.1 \u00a0
\n\t\t\t\t\t306.9 \u00a0
\n\t\t\t\t\t18.8 \u00a0
\n\t\t\t\t\t21.7 \u00a0
\n\t\t\t\t\tPoland \u00a0
\n\t\t\t\t\t213.5 \u00a0
\n\t\t\t\t\t213.9 \u00a0
\n\t\t\t\t\t17.2 \u00a0
\n\t\t\t\t\t16.3 \u00a0
\n\t\t\t\t\tUSA \u00a0
\n\t\t\t\t\t99.6 \u00a0
\n\t\t\t\t\t4.4 \u00a0
\n\t\t\t\t\t0.1 \u00a0
\n\t\t\t\t\t6.9 \u00a0
\n\t\t\t\t\tNorway \u00a0
\n\t\t\t\t\t90.4 \u00a0
\n\t\t\t\t\t108.4 \u00a0
\n\t\t\t\t\t87.9 \u00a0
\n\t\t\t\t\t90.5 \u00a0
\n\t\t\t\t\tCzech Republic \u00a0
\n\t\t\t\t\t62.0 \u00a0
\n\t\t\t\t\t69.5 \u00a0
\n\t\t\t\t\t63.7 \u00a0
\n\t\t\t\t\t45.1 \u00a0
\n\t\t\t\t\tOther \u00a0
\n\t\t\t\t\t300.0 \u00a0
\n\t\t\t\t\t234.2 \u00a0
\n\t\t\t\t\t12.2 \u00a0
\n\t\t\t\t\t34.1 \u00a0
\n\t\t\t\t\tTotal \u00a0
\n\t\t\t\t\t2,079.0 \u00a0
\n\t\t\t\t\t1,827.9 \u00a0
\n\t\t\t\t\t1,373.2 \u00a0
\n\t\t\t\t\t1,404.6 \u00a0
Accounting policy \u00a0
\n\t\t\t\t\tSegment information \u00a0
\n\t\t\t\t\tThe segment information is based on internal management reporting and \u00a0
\n\t\t\t\t\tis presented in accordance with the Group\u2019s accounting policies. \u00a0
\n\t\t\t\t\tSegment income and expenses and segment working capital comprise \u00a0
\n\t\t\t\t\tthose items that are directly attributable to the individual segment and \u00a0
\n\t\t\t\t\tthose items that can be reliably allocated to it. Other items are shown as \u00a0
\n\t\t\t\t\tnon-allocated. \u00a0
\n\t\t\t\t\tThe reportable segments are generally referred to as business lines. The \u00a0
\n\t\t\t\t\tbusiness lines consist of Solutions, Applications and Service & Accesso- \u00a0
\n\t\t\t\t\tries. For further details please refer to the Business review section of each \u00a0
\n\t\t\t\t\tbusiness line. The Board of Directors assesses the operating results of \u00a0
\n\t\t\t\t\tthe business lines separately to enable decisions concerning allocation of \u00a0
\n\t\t\t\t\tresources and measurement of performance. \u00a0
\n\t\t\t\t\tRevenue from Goods and Service are recognized at a point in time and \u00a0
\n\t\t\t\t\trevenue from construction contracts are recognized over time. \u00a0
\n\t\t\t\t\tInter-segment transactions are performed on market terms. \u00a0
\n\t\t\t\t\tNo single customer accounts for more than 10% of the revenue. \u00a0
\n\t\t\t\t\tThe geographical disclosure of revenue is based on the country of delivery. \u00a0
Other operating income comprises items of a secondary nature rela- \u00a0
\n\t\t\t\t\ttive to the operations of the Group, including grant schemes, reimburse- \u00a0
\n\t\t\t\t\tments and gains on sale of non-current assets, etc. \u00a0
Change in inventories of finished goods and work in progress \u00a0
\n\t\t\t\t\tcomprises changes in these items which correspond to staff costs and \u00a0
\n\t\t\t\t\tother costs charged to the income statement during the year and which \u00a0
\n\t\t\t\t\trelate directly or indirectly to the cost of the items stated in the balance \u00a0
\n\t\t\t\t\tsheet. \u00a0
Work performed by the Group and capitalized comprises income \u00a0
\n\t\t\t\t\twhich corresponds to staff costs and other costs charged to the income \u00a0
\n\t\t\t\t\tstatement during the year and which relate directly or indirectly to the \u00a0
\n\t\t\t\t\tcapitalized cost of non-current assets of own manufacture. \u00a0
Raw materials, consumables and goods for resale \u00a0
\n\t\t\t\t\tCosts of raw materials, consumables and goods for resale refer to \u00a0
\n\t\t\t\t\tpurchases and changes during the year in inventory levels, including \u00a0
\n\t\t\t\t\tshrinkage, waste production and any write-downs for obsolescence. \u00a0
Other costs comprise external costs relating to production, sale and \u00a0
\n\t\t\t\t\tadministration, as well as losses on disposal of tangible and intangible \u00a0
\n\t\t\t\t\tassets. Write-downs of receivables from sales are also included. \u00a0
Significant judgements \u00a0
\n\t\t\t\t\tCable projects are to a certain degree measured based on management \u00a0
\n\t\t\t\t\tjudgement in terms of when to recognize revenue and how to calculate \u00a0
\n\t\t\t\t\tthe revenue in terms of stage-of-completion and estimated profit on \u00a0
\n\t\t\t\t\teach project. The estimates include a risk provision, which is based on \u00a0
\n\t\t\t\t\tan assessment of the specific risks that each project is exposed to. The \u00a0
\n\t\t\t\t\tstage-of-completion is based on costs incurred against estimated total \u00a0
\n\t\t\t\t\tproject costs. In essence, the total project costs are therefore to a large \u00a0
\n\t\t\t\t\textent based on estimates. \u00a0
Assumptions for the recognition of revenue over time regarding larger \u00a0
\n\t\t\t\t\tcable projects are determined contract by contract. Control is transferred \u00a0
\n\t\t\t\t\tas the project progresses, based on assumptions such as: \u00a0
\n\t\t\t\t\tDeliveries being approved on an ongoing basis \u00a0
\n\t\t\t\t\t\u25a0
\n\t\t\t\t\tNKT Group\u2019s ability to provide products according to specification and \u00a0
\n\t\t\t\t\t\u25a0
\n\t\t\t\t\tthe risk that the cable is rejected \u00a0
\n\t\t\t\t\tCustomer takes over risk and legal title to the cable installation on an \u00a0
\n\t\t\t\t\t\u25a0
\n\t\t\t\t\ton-going basis, and \u00a0
\n\t\t\t\t\tMilestone payments from the customer. \u00a0
Projects \u00a0
\n\t\t\t\t\tRevenue from the sale of cable projects accounted \u00a0
\n\t\t\t\t\tfor as construction contracts comprises sale of \u00a0
\n\t\t\t\t\tonshore and offshore highly customized cables in \u00a0
\n\t\t\t\t\tSolutions, delivery of highly customized spare cables \u00a0
\n\t\t\t\t\tin Service and larger projects in NKT Photonics. \u00a0
\n\t\t\t\t\tProjects are usually significant in amount, have a long \u00a0
\n\t\t\t\t\tlead time affecting the financial statements of more \u00a0
\n\t\t\t\t\treporting periods and have a high degree of project \u00a0
\n\t\t\t\t\tmanagement. Each project is normally considered \u00a0
\n\t\t\t\t\tone performance obligation as each project comprise \u00a0
\n\t\t\t\t\thighly interrelated and interdependent physical assets \u00a0
\n\t\t\t\t\tand services, such as production, installation and \u00a0
\n\t\t\t\t\tproject management. \u00a0
\n\t\t\t\t\tHowever, depending on the contract structure, the \u00a0
\n\t\t\t\t\tperformance obligation may consist of more than \u00a0
\n\t\t\t\t\tone contract. Cable projects are often sold as fixed \u00a0
\n\t\t\t\t\tprice contracts and revenue from these are therefore \u00a0
\n\t\t\t\t\trecognized over time by applying the percentage of \u00a0
\n\t\t\t\t\tcompletion (PoC) cost-to-cost method. \u00a0
Payment terms of a cable project contract usually \u00a0
\n\t\t\t\t\tcomprise the following payments: \u00a0
\n\t\t\t\t\tdown payment from the customer at contract \u00a0
\n\t\t\t\t\t\u25a0
\n\t\t\t\t\tinception, \u00a0
\n\t\t\t\t\tprogress payments, linked to project milestones, \u00a0
\n\t\t\t\t\t\u25a0
\n\t\t\t\t\tfinal payment upon completion and customer \u00a0
\n\t\t\t\t\t\u25a0
\n\t\t\t\t\tacceptance. \u00a0
\n\t\t\t\t\tNKT Group will usually obtain payment guarantees \u00a0
\n\t\t\t\t\tto minimize counter party risk during the execution of \u00a0
\n\t\t\t\t\tcable projects. \u00a0
Sale of products \u00a0
\n\t\t\t\t\tSale of products relates to the sale of smaller less \u00a0
\n\t\t\t\t\tcustomized cable projects, standardized cables \u00a0
\n\t\t\t\t\tand equipment. Small cable projects with little or no \u00a0
\n\t\t\t\t\tcustomization usually have a short lead time of less \u00a0
\n\t\t\t\t\tthan one year. Each delivered product is considered \u00a0
\n\t\t\t\t\tone performance obligation. Most of the products are \u00a0
\n\t\t\t\t\tsold at a fixed price and revenue is usually recognized \u00a0
\n\t\t\t\t\tat the point in time when the control of the products \u00a0
\n\t\t\t\t\ttransfers to the customers, usually upon delivery. \u00a0
\n\t\t\t\t\tFor standardized products, NKT Group is usually en- \u00a0
\n\t\t\t\t\ttitled to payment upon delivery, and payment terms \u00a0
\n\t\t\t\t\tvary by market but are usually short. \u00a0
Service contracts \u00a0
\n\t\t\t\t\tService contracts comprise various service elements \u00a0
\n\t\t\t\t\tto support power cable efficiency and prevent or \u00a0
\n\t\t\t\t\tmitigate power cable failures and can include up to \u00a0
\n\t\t\t\t\t365/24 hours support. Service delivered according \u00a0
\n\t\t\t\t\tto the contracts is considered as one performance \u00a0
\n\t\t\t\t\tobligation delivered over time. Revenue is accordingly \u00a0
\n\t\t\t\t\trecognized over the life of the contract. NKT Group is \u00a0
\n\t\t\t\t\teither entitled to payment once the service has been \u00a0
\n\t\t\t\t\tprovided or on a periodic basis. \u00a0
\n\t\t\t\t\tSpare parts and other repair work contracts are \u00a0
\n\t\t\t\t\tdetermined as one performance obligation. The \u00a0
\n\t\t\t\t\ttransaction price is usually variable, depending on \u00a0
\n\t\t\t\t\tthe produced output, and revenue is recognized \u00a0
\n\t\t\t\t\tover time, using the cost-to-cost method. In case \u00a0
\n\t\t\t\t\tof significant uncertainties related to measuring the \u00a0
\n\t\t\t\t\trevenue reliably, revenue is recognized according to \u00a0
\n\t\t\t\t\tpayments. NKT Group is entitled to payment once \u00a0
\n\t\t\t\t\tthe work or spare parts are delivered. \u00a0
Providing new highly customized spare cables is de- \u00a0
\n\t\t\t\t\tfined as one performance obligation. The transaction \u00a0
\n\t\t\t\t\tprice is usually fixed and revenue is typically recog- \u00a0
\n\t\t\t\t\tnized over time using the percentage of completion \u00a0
\n\t\t\t\t\t(PoC) cost-to-cost method. \u00a0
\n\t\t\t\t\tThe payment pattern for spare cables is similar to \u00a0
\n\t\t\t\t\tthe pattern for cable projects described above and \u00a0
\n\t\t\t\t\tNKT Group will usually obtain payment guarantees \u00a0
\n\t\t\t\t\tto minimize the risk during the execution of the cable \u00a0
\n\t\t\t\t\tproject. \u00a0
Accounting policy \u00a0
\n\t\t\t\t\tRevenue \u00a0
\n\t\t\t\t\tRevenue from construction contracts with customers \u00a0
\n\t\t\t\t\twith a high degree of individual customization and no \u00a0
\n\t\t\t\t\talternative use, are recognized as revenue over time, \u00a0
\n\t\t\t\t\tprovided that NKT Group has secured an enforceable \u00a0
\n\t\t\t\t\tright to payment for work performed at any time. \u00a0
\n\t\t\t\t\tThe revenue therefore corresponds to the sales price \u00a0
\n\t\t\t\t\tof work performed during the year (the percent- \u00a0
\n\t\t\t\t\tage-of-completion method). See note 4.4 for further \u00a0
\n\t\t\t\t\tinformation concerning construction contracts. \u00a0
\n\t\t\t\t\tRevenue from sale of goods for resale and finished \u00a0
\n\t\t\t\t\tgoods is recognized in the income statement when \u00a0
\n\t\t\t\t\tcontrol of the goods has transferred to the buyer, \u00a0
\n\t\t\t\t\tnormally at delivery, and it is virtually certain that the \u00a0
\n\t\t\t\t\tincome will be received. \u00a0
\n\t\t\t\t\tRevenue from services that include service packages \u00a0
\n\t\t\t\t\tand extended warranties relating to products and \u00a0
\n\t\t\t\t\tcontracts is recognized concurrently with the supply \u00a0
\n\t\t\t\t\tof those services. \u00a0
\n\t\t\t\t\tRevenue is measured at the fair value of the expected \u00a0
\n\t\t\t\t\tconsideration excluding VAT and taxes charged on \u00a0
\n\t\t\t\t\tbehalf of third parties. In determining the transaction \u00a0
\n\t\t\t\t\tprice, revenue is reduced by probable penalties and \u00a0
\n\t\t\t\t\tother claims and discounts that are payments to the \u00a0
\n\t\t\t\t\tcustomers. The transaction price is further adjusted \u00a0
\n\t\t\t\t\tfor any variable elements of the transaction price. The \u00a0
\n\t\t\t\t\tvariable amount is estimated at contract inception \u00a0
\n\t\t\t\t\tand revisited throughout the contract period. Variable \u00a0
\n\t\t\t\t\tincome is recognized as revenue when it is highly \u00a0
\n\t\t\t\t\tprobable that a reversal will not occur. \u00a0
2.2 Staff cost \u00a0
\n\t\t\t\t\tAmounts in EURm \u00a0
\n\t\t\t\t\t2022 \u00a0
\n\t\t\t\t\t2021 \u00a0
\n\t\t\t\t\tWages and salaries \u00a0
\n\t\t\t\t\t237.0 \u00a0
\n\t\t\t\t\t247.6 \u00a0
\n\t\t\t\t\tSocial security costs \u00a0
\n\t\t\t\t\t50.9 \u00a0
\n\t\t\t\t\t48.7 \u00a0
\n\t\t\t\t\tDefined contribution plans \u00a0
\n\t\t\t\t\t14.6 \u00a0
\n\t\t\t\t\t15.2 \u00a0
\n\t\t\t\t\tTotal \u00a0
\n\t\t\t\t\t302.5 \u00a0
\n\t\t\t\t\t311.5 \u00a0
\n\t\t\t\t\tAverage number of full-time employees \u00a0
\n\t\t\t\t\t4,062 \u00a0
\n\t\t\t\t\t3,775 \u00a0
In 2022, staff costs in NKT Group decreased by 3%, and the average number of full-time \u00a0
\n\t\t\t\t\temployees increased by 8%. Staff costs was impacted by exchange rates and utilization of \u00a0
\n\t\t\t\t\tthe restructuring provision recognised in 2021 regarding German activities (recognised as a \u00a0
\n\t\t\t\t\tone-off item in 2021). \u00a0
In NKT Group, most employees are covered by pension schemes, primarily in the form of \u00a0
\n\t\t\t\t\tdefined contribution-based plans managed by independent pension funds. \u00a0
NKT Group\u2019s defined benefit plans, primarily relating to the activities in Germany, are \u00a0
\n\t\t\t\t\trecognized at the present value of the actuarially measured obligations. If a plan is not fully \u00a0
\n\t\t\t\t\tcovered by plan assets, a plan liability is recognized in the balance sheet. Expenses relating \u00a0
\n\t\t\t\t\tto pension benefits are recognized as staff costs in the income statement. Actuarial gains or \u00a0
\n\t\t\t\t\tlosses are recognized in other comprehensive income, EUR 11.7m (EUR 2.3m in 2021), see \u00a0
\n\t\t\t\t\tnote 3.4 for more information. \u00a0
Amounts in EURk \u00a0
\n\t\t\t\t\t2022 \u00a0
\n\t\t\t\t\t2021 \u00a0
\n\t\t\t\t\tRemuneration to Executive Management \u00a0
\n\t\t\t\t\tSalary \u00a0
\n\t\t\t\t\t1,469 \u00a0
\n\t\t\t\t\t1,300 \u00a0
\n\t\t\t\t\tBonus \u00a0
\n\t\t\t\t\t1,153 \u00a0
\n\t\t\t\t\t1,199 \u00a0
\n\t\t\t\t\tPension \u00a0
\n\t\t\t\t\t75 \u00a0
\n\t\t\t\t\t61 \u00a0
\n\t\t\t\t\tLong-term incentive \u00a0
\n\t\t\t\t\t1,039 \u00a0
\n\t\t\t\t\t478 \u00a0
\n\t\t\t\t\tOther benefits \u00a0
\n\t\t\t\t\t114 \u00a0
\n\t\t\t\t\t114 \u00a0
\n\t\t\t\t\tTotal \u00a0
\n\t\t\t\t\t3,850 \u00a0
\n\t\t\t\t\t3,152 \u00a0
Remuneration of Executive Management comprise fixed salary, short- \u00a0
\n\t\t\t\t\tand long-term bonus programs and other customary benefits. Long \u00a0
\n\t\t\t\t\tterm bonus program consists of share-based payments programs. The \u00a0
\n\t\t\t\t\taccounting for share-based payments is presented in details in note 2.3. \u00a0
Remuneration to Executive Management increased in 2022 compared \u00a0
\n\t\t\t\t\tto 2021, mainly due to higher salaries as well as the long-term bonus \u00a0
\n\t\t\t\t\tprogram, as the internal targets were fully met for the 2020 program (see \u00a0
\n\t\t\t\t\tnote 2.3 Share-based payment). For more information on the develop- \u00a0
\n\t\t\t\t\tment, refer to the Remuneration Report available at the website. \u00a0
The Company has no related parties holding control. The Company\u2019s \u00a0
\n\t\t\t\t\trelated parties comprise the NKT Group Leadership Team and their close \u00a0
\n\t\t\t\t\tfamily members. Related parties also include businesses in which the \u00a0
\n\t\t\t\t\taforementioned have material interests. \u00a0
Amounts in EURk \u00a0
\n\t\t\t\t\t2022 \u00a0
\n\t\t\t\t\t2021 \u00a0
\n\t\t\t\t\tRemuneration to Board members \u00a0
\n\t\t\t\t\tBase remuneration \u00a0
\n\t\t\t\t\t576 \u00a0
\n\t\t\t\t\t480 \u00a0
\n\t\t\t\t\tAudit committee \u00a0
\n\t\t\t\t\t48 \u00a0
\n\t\t\t\t\t42 \u00a0
\n\t\t\t\t\tESG committee \u00a0
\n\t\t\t\t\t13 \u00a0
\n\t\t\t\t\t0
\n\t\t\t\t\tNomination committee \u00a0
\n\t\t\t\t\t24 \u00a0
\n\t\t\t\t\t20 \u00a0
\n\t\t\t\t\tRemuneration committee \u00a0
\n\t\t\t\t\t33 \u00a0
\n\t\t\t\t\t20 \u00a0
\n\t\t\t\t\tNKT Photonics working committee \u00a0
\n\t\t\t\t\t26 \u00a0
\n\t\t\t\t\t28 \u00a0
\n\t\t\t\t\tTotal \u00a0
\n\t\t\t\t\t720 \u00a0
\n\t\t\t\t\t590 \u00a0
Accounting policy \u00a0
\n\t\t\t\t\tStaff costs comprise wages and salaries, remuner- \u00a0
\n\t\t\t\t\tation, pensions, etc., and share-based payment for \u00a0
\n\t\t\t\t\tthe company\u2019s employees, including Group Man- \u00a0
\n\t\t\t\t\tagement. The Board of Directors does not receive \u00a0
\n\t\t\t\t\tshare-based payment. \u00a0
Wages and salaries, social security contributions, \u00a0
\n\t\t\t\t\tleave and sick leave, bonuses and non-monetary \u00a0
\n\t\t\t\t\tbenefits are recognized in the financial year in which \u00a0
\n\t\t\t\t\tservices are rendered by the employee. When NKT \u00a0
\n\t\t\t\t\tprovides long-term employee benefits, the costs are \u00a0
\n\t\t\t\t\taccrued to match the rendering of services. \u00a0
Termination benefits are recognized when an \u00a0
\n\t\t\t\t\tagreement has been reached between NKT and the \u00a0
\n\t\t\t\t\temployee and no future service is rendered by the \u00a0
\n\t\t\t\t\temployee in exchange for the benefits. \u00a0
2.3 Share-based payment \u00a0
\n\t\t\t\t\tLong-term incentive programs for Executive Management \u00a0
\n\t\t\t\t\tand Group Leadership Team \u00a0
\n\t\t\t\t\tThe decision to award performance shares to the Executive Manage- \u00a0
\n\t\t\t\t\tment, the Group Leadership Team (GLT) and selected employees is \u00a0
\n\t\t\t\t\tmade each year at the discretion of the Board of Directors after rec- \u00a0
\n\t\t\t\t\tommendation from the Remuneration Committee. The awarded shares \u00a0
\n\t\t\t\t\trepresent a conditional right to receive shares after a three-year per- \u00a0
\n\t\t\t\t\tformance period at nil payment. The Board of Directors may decide to \u00a0
\n\t\t\t\t\tmake cash awards in a given year. The performance shares vest subject \u00a0
\n\t\t\t\t\tto continued employment and the achievement of certain performance \u00a0
\n\t\t\t\t\ttargets over a three-year period. \u00a0
\n\t\t\t\t\tFor more information on the grant of performance shares, refer to the \u00a0
\n\t\t\t\t\tGroup\u2019s Remuneration Report available on the website. \u00a0
\n\t\t\t\t\tIn 2022, a new performance share program was awarded to 18 partici- \u00a0
\n\t\t\t\t\tpants (19 in 2021) with a vesting period of 3 years. All programs contain \u00a0
\n\t\t\t\t\ttwo key performance targets, one relating to operational EBITDA, and \u00a0
\n\t\t\t\t\tone relating to Total Shareholder Return (TSR). The total market value at \u00a0
\n\t\t\t\t\taward date was EUR 2.5m (EUR 2.0m in 2021). \u00a0
\n\t\t\t\t\tFor the 2020 program, both the TSR target and EBITDA target were met \u00a0
\n\t\t\t\t\tand 82.092 shares will vest in February 2023. \u00a0
\n\t\t\t\t\tCosts relating to share-based payments in 2022 was EUR 2.7m (EUR \u00a0
\n\t\t\t\t\t1.5m in 2021). The increased costs was mainly driven by an increased \u00a0
\n\t\t\t\t\tnumber of shares in later programs, but also because the EBITDA target \u00a0
\n\t\t\t\t\tfor the 2020 program was reached in 2022, which was previously only \u00a0
\n\t\t\t\t\texpected to be partially reached. \u00a0
\n\t\t\t\t\tRemaining value to be expensed relating to current programs is EUR \u00a0
\n\t\t\t\t\t2.6m (EUR 2.3m in 2021). The weighted average remaining contractual \u00a0
\n\t\t\t\t\tlife of performance shares at the end of the period was 1.1 years (1.2 \u00a0
\n\t\t\t\t\tyears in 2021). \u00a0
Assumptions \u00a0
\n\t\t\t\t\tThe value of each Performance shares Program (PSP) granted is calcu- \u00a0
\n\t\t\t\t\tlated based on a number of assumptions including expected dividend \u00a0
\n\t\t\t\t\tpayout during the vesting period, the volatility of NKT\u2019s share price \u00a0
\n\t\t\t\t\t(usually measured over a two year period), risk free interest rate and \u00a0
\n\t\t\t\t\texpected vesting period, usually 30-36 months. Apart from the expected \u00a0
\n\t\t\t\t\tdividend payout, which may vary in terms of actual payout, none of the \u00a0
\n\t\t\t\t\tassumptions listed have a material impact on the value of the PSP. \u00a0
Performance shares \u00a0
\n\t\t\t\t\tExecutive \u00a0
\n\t\t\t\t\tOther \u00a0
\n\t\t\t\t\toutstanding \u00a0
\n\t\t\t\t\tmanagement employees \u00a0
\n\t\t\t\t\tTotal \u00a0
\n\t\t\t\t\t1 January 2021 \u00a0
\n\t\t\t\t\t42,435 \u00a0
\n\t\t\t\t\t119,100 161,535 \u00a0
\n\t\t\t\t\tShares granted during the year \u00a0
\n\t\t\t\t\t28,631 \u00a0
\n\t\t\t\t\t41,125 69,756 \u00a0
\n\t\t\t\t\tShares lapsed during the year \u00a0
\n\t\t\t\t\t-3,118 \u00a0
\n\t\t\t\t\t-17,128 -20,246 \u00a0
\n\t\t\t\t\t31 December 2021 \u00a0
\n\t\t\t\t\t67,948 \u00a0
\n\t\t\t\t\t143,097 211,045 \u00a0
\n\t\t\t\t\t1 January 2022 \u00a0
\n\t\t\t\t\t67,948 \u00a0
\n\t\t\t\t\t143,097 211,045 \u00a0
\n\t\t\t\t\tShares granted during the year \u00a0
\n\t\t\t\t\t30,554 \u00a0
\n\t\t\t\t\t42,335 \u00a0
\n\t\t\t\t\t72,889 \u00a0
\n\t\t\t\t\tShares lapsed during the year \u00a0
\n\t\t\t\t\t-10,586 \u00a0
\n\t\t\t\t\t-50,908 -61,494 \u00a0
\n\t\t\t\t\t31 December 2022 \u00a0
\n\t\t\t\t\t87,916 \u00a0
\n\t\t\t\t\t134,524 222,440 \u00a0
Accounting policy \u00a0
\n\t\t\t\t\tThe share-based payments contain internal performance measures and \u00a0
\n\t\t\t\t\texternal market return measures. At the grant date the value of services \u00a0
\n\t\t\t\t\treceived in exchange for share-based payments are measured at the fair \u00a0
\n\t\t\t\t\tvalue. The fair value of share-based payments is estimated using a valua- \u00a0
\n\t\t\t\t\ttion model that takes into account the terms and conditions upon which \u00a0
\n\t\t\t\t\tgranting took place. During the vesting period, the costs related to the \u00a0
\n\t\t\t\t\tplans are recognized as staff costs and an equal amount is recognized \u00a0
\n\t\t\t\t\tin equity. For the internal performance targets, costs are recognized \u00a0
\n\t\t\t\t\tover the vesting period based on the number of shares expected to \u00a0
\n\t\t\t\t\tvest, whereas for the market return elements, costs are recognized over \u00a0
\n\t\t\t\t\tthe vesting period disregarding any changes in the number of shares \u00a0
\n\t\t\t\t\texpected to vest. \u00a0
2.4 Research and development \u00a0
\n\t\t\t\t\tAmounts in EURm \u00a0
\n\t\t\t\t\t2022 \u00a0
\n\t\t\t\t\t2021 \u00a0
\n\t\t\t\t\tResearch and development costs - staff costs \u00a0
\n\t\t\t\t\t5.2 \u00a0
\n\t\t\t\t\t5.5 \u00a0
\n\t\t\t\t\tResearch and development costs - other costs \u00a0
\n\t\t\t\t\t32.1 \u00a0
\n\t\t\t\t\t27.3 \u00a0
\n\t\t\t\t\tTotal research and development costs \u00a0
\n\t\t\t\t\t37.3 \u00a0
\n\t\t\t\t\t32.8 \u00a0
\n\t\t\t\t\tRecognized as follows: \u00a0
\n\t\t\t\t\tExpensed in the income statement \u00a0
\n\t\t\t\t\t6.0 \u00a0
\n\t\t\t\t\t7.1 \u00a0
\n\t\t\t\t\tCapitalized in the balance sheet \u00a0
\n\t\t\t\t\t31.3 \u00a0
\n\t\t\t\t\t25.7 \u00a0
\n\t\t\t\t\tTotal research and development costs \u00a0
\n\t\t\t\t\t37.3 \u00a0
\n\t\t\t\t\t32.8 \u00a0
Accounting policy \u00a0
\n\t\t\t\t\tResearch costs are expensed in the income statement as they occur. \u00a0
\n\t\t\t\t\tClearly defined and identifiable development projects are recognized as \u00a0
\n\t\t\t\t\tintangible assets provided that the following requirements are met: the \u00a0
\n\t\t\t\t\ttechnical feasibility, adequacy of resources and a potential future market \u00a0
\n\t\t\t\t\tcan be demonstrated, it is intended to manufacture, market or utilize \u00a0
\n\t\t\t\t\tthe project, the cost can be reliably determined, and there is reasonable \u00a0
\n\t\t\t\t\tcertainty that the future earnings or net selling prices can cover the car- \u00a0
\n\t\t\t\t\trying amount as well as the development costs necessary to finalize the \u00a0
\n\t\t\t\t\tproject. Other development costs are expensed in the income statement \u00a0
\n\t\t\t\t\tas incurred. Capitalized development projects are measured at cost less \u00a0
\n\t\t\t\t\taccumulated amortization and impairment losses. The cost includes \u00a0
\n\t\t\t\t\twages, amortization and other costs relating to the Group\u2019s development \u00a0
\n\t\t\t\t\tactivities. On completion of the development work, development projects \u00a0
\n\t\t\t\t\tare amortized on a straight-line basis over their estimated useful life from \u00a0
\n\t\t\t\t\tthe date the asset is available for use. The amortization period is usually \u00a0
\n\t\t\t\t\t3\u201310 years. The amortization base is reduced by any impairment losses. \u00a0
2.5 Tax \u00a0
\n\t\t\t\t\tTax Approach \u00a0
\n\t\t\t\t\tNKT Group complies with the tax legislation of the countries in which it \u00a0
\n\t\t\t\t\toperates and seeks to pay the right amount of tax in the countries where \u00a0
\n\t\t\t\t\tit creates value. \u00a0
\n\t\t\t\t\tNKT Group only uses business structures that are driven by commercial \u00a0
\n\t\t\t\t\tconsideration and have the genuine substance. \u00a0
\n\t\t\t\t\tNKT Group does not operate in tax havens. In accordance with NKT \u00a0
\n\t\t\t\t\tGroup\u2019s tax policy, any future operations in tax havens will be purely of \u00a0
\n\t\t\t\t\tcommercial reasons. \u00a0
\n\t\t\t\t\tNKT Group believes in collaboration and transparency regarding its tax \u00a0
\n\t\t\t\t\tmatters and actively pursues opportunities to engage with tax author- \u00a0
\n\t\t\t\t\tities and other relevant stakeholders with the purpose of building trust \u00a0
\n\t\t\t\t\tthrough collaboration and openness. \u00a0
\n\t\t\t\t\tNKT Group realized earning before tax (EBT) of EUR 78.3m (EUR 15.7 in \u00a0
\n\t\t\t\t\t2021), which resulted in a reported tax rate of 29.6% (24.1% in 2021). \u00a0
\n\t\t\t\t\tThe reported tax rate of 29.6% was primarily impacted by changes to \u00a0
\n\t\t\t\t\tdeferred tax assets in Germany and utilization of not recognized deferred \u00a0
\n\t\t\t\t\ttax assets in Denmark. \u00a0
\n\t\t\t\t\tIn 2022, NKT Group paid on net amount of EUR 15.3m in corporate \u00a0
\n\t\t\t\t\tincome tax compared to paying a net amount of EUR 0.4m in 2021. \u00a0
\n\t\t\t\t\tEarnings realised in NKT Group\u2019s Danish companies resulted in payable \u00a0
\n\t\t\t\t\tcorporate tax of EUR 3.3m after utilizing tax losses carried forward (EUR \u00a0
\n\t\t\t\t\t0.3m in 2021). \u00a0
Amounts in EUR \u00a0
\n\t\t\t\t\t2022 \u00a0
\n\t\t\t\t\t2021 \u00a0
\n\t\t\t\t\tTax recognized in the income statement \u00a0
\n\t\t\t\t\tCurrent tax \u00a0
\n\t\t\t\t\t11.1 \u00a0
\n\t\t\t\t\t7.6 \u00a0
\n\t\t\t\t\tCurrent tax, adj. prior years \u00a0
\n\t\t\t\t\t1.5 \u00a0
\n\t\t\t\t\t-0.3 \u00a0
\n\t\t\t\t\tDeferred tax \u00a0
\n\t\t\t\t\t13.6 \u00a0
\n\t\t\t\t\t-4.9 \u00a0
\n\t\t\t\t\tDeferred tax, adj. prior years \u00a0
\n\t\t\t\t\t-3.0 \u00a0
\n\t\t\t\t\t1.4 \u00a0
\n\t\t\t\t\t23.2 \u00a0
\n\t\t\t\t\t3.8 \u00a0
\n\t\t\t\t\tTax rate for the year \u00a0
\n\t\t\t\t\t29.6% \u00a0
\n\t\t\t\t\t24.1% \u00a0
\n\t\t\t\t\tReconciliation of tax: \u00a0
\n\t\t\t\t\tCalculated 22.0% tax on earnings before tax \u00a0
\n\t\t\t\t\t17.2 \u00a0
\n\t\t\t\t\t3.4 \u00a0
\n\t\t\t\t\tTax effect of: \u00a0
\n\t\t\t\t\tForeing tax rates relative to Danish tax rate \u00a0
\n\t\t\t\t\t-5.0 \u00a0
\n\t\t\t\t\t-2.8 \u00a0
\n\t\t\t\t\tNon-taxable income/ \u00a0
\n\t\t\t\t\tnon-deductible expenses, net \u00a0
\n\t\t\t\t\t-4.1 \u00a0
\n\t\t\t\t\t1.6 \u00a0
\n\t\t\t\t\tAdjustment for previous years \u00a0
\n\t\t\t\t\t-1.5 \u00a0
\n\t\t\t\t\t1.1 \u00a0
\n\t\t\t\t\tValue adjustment of tax assets \u00a0
\n\t\t\t\t\t16.6 \u00a0
\n\t\t\t\t\t0.5 \u00a0
\n\t\t\t\t\t23.2 \u00a0
\n\t\t\t\t\t3.8 \u00a0
Amounts in EURm \u00a0
\n\t\t\t\t\t2022 \u00a0
\n\t\t\t\t\t2021 \u00a0
\n\t\t\t\t\tDeferred tax, 1 January, net \u00a0
\n\t\t\t\t\t-46.9 \u00a0
\n\t\t\t\t\t-17.8 \u00a0
\n\t\t\t\t\tTax recognized in other comprehensive income \u00a0
\n\t\t\t\t\t10.2 \u00a0
\n\t\t\t\t\t-34.1 \u00a0
\n\t\t\t\t\tAddition from acquisitions \u00a0
\n\t\t\t\t\t-0.9 \u00a0
\n\t\t\t\t\t0.0 \u00a0
\n\t\t\t\t\tDeferred tax recognized in income statement \u00a0
\n\t\t\t\t\t-10.6 \u00a0
\n\t\t\t\t\t3.9 \u00a0
\n\t\t\t\t\tTransferred to payable tax \u00a0
\n\t\t\t\t\t0.0 \u00a0
\n\t\t\t\t\t0.5 \u00a0
\n\t\t\t\t\tTransferred to assets held for sale \u00a0
\n\t\t\t\t\t2.4 \u00a0
\n\t\t\t\t\t0.0 \u00a0
\n\t\t\t\t\tForeign exchange adjustment \u00a0
\n\t\t\t\t\t2.6 \u00a0
\n\t\t\t\t\t0.6 \u00a0
\n\t\t\t\t\tDeferred tax, 31 December, net \u00a0
\n\t\t\t\t\t-43.2 \u00a0
\n\t\t\t\t\t-46.9 \u00a0
\n\t\t\t\t\tRecognized deferred tax: \u00a0
\n\t\t\t\t\tDeferred tax assets, 31 December \u00a0
\n\t\t\t\t\t11.7 \u00a0
\n\t\t\t\t\t24.9 \u00a0
\n\t\t\t\t\tDeferred tax liabilities, 31 December \u00a0
\n\t\t\t\t\t-54.9 \u00a0
\n\t\t\t\t\t-71.8 \u00a0
\n\t\t\t\t\tDeferred tax, 31 December, net \u00a0
\n\t\t\t\t\t-43.2 \u00a0
\n\t\t\t\t\t-46.9 \u00a0
\n\t\t\t\t\tSpecification on deferred tax assets and liabilities: \u00a0
\n\t\t\t\t\tIntangible assets \u00a0
\n\t\t\t\t\t-22.7 \u00a0
\n\t\t\t\t\t-22.0 \u00a0
\n\t\t\t\t\tTangible assets \u00a0
\n\t\t\t\t\t-13.3 \u00a0
\n\t\t\t\t\t-16.3 \u00a0
\n\t\t\t\t\tOther non-current assets \u00a0
\n\t\t\t\t\t1.4 \u00a0
\n\t\t\t\t\t1.7 \u00a0
\n\t\t\t\t\tCurrent assets \u00a0
\n\t\t\t\t\t-65.1 \u00a0
\n\t\t\t\t\t-81.1 \u00a0
\n\t\t\t\t\tNon-current liabilities \u00a0
\n\t\t\t\t\t5.8 \u00a0
\n\t\t\t\t\t8.0 \u00a0
\n\t\t\t\t\tCurrent liabilities \u00a0
\n\t\t\t\t\t13.7 \u00a0
\n\t\t\t\t\t4.1 \u00a0
\n\t\t\t\t\tTax losses \u00a0
\n\t\t\t\t\t128.7 \u00a0
\n\t\t\t\t\t130.6 \u00a0
\n\t\t\t\t\tValuation allowance, unrecognized tax assets \u00a0
\n\t\t\t\t\t-92.7 \u00a0
\n\t\t\t\t\t-81.7 \u00a0
\n\t\t\t\t\tOther \u00a0
\n\t\t\t\t\t1.0 \u00a0
\n\t\t\t\t\t9.8 \u00a0
\n\t\t\t\t\tDeferred tax, 31 December, net \u00a0
\n\t\t\t\t\t-43.2 \u00a0
\n\t\t\t\t\t-46.9 \u00a0
Significant estimates \u00a0
\n\t\t\t\t\tThe measurement of deferred tax assets and liabilities \u00a0
\n\t\t\t\t\tis based on the corporate tax rate applicable in the \u00a0
\n\t\t\t\t\tyears when the assets and liabilities are expected \u00a0
\n\t\t\t\t\tto be utilized. The measurement of the tax assets \u00a0
\n\t\t\t\t\tis based on budgets and estimates for the coming \u00a0
\n\t\t\t\t\tyears, which by nature are subject to uncertainty. \u00a0
\n\t\t\t\t\tAs a result, there can be a substantial difference \u00a0
\n\t\t\t\t\tbetween the expected use of the tax asset and actual \u00a0
\n\t\t\t\t\tuse of the tax asset related to previous years in the \u00a0
\n\t\t\t\t\tconsolidated income statement. \u00a0
\n\t\t\t\t\tThe majority of the deferred tax assets relate to \u00a0
\n\t\t\t\t\tNKT Group\u2019s German tax unit. The utilization of the \u00a0
\n\t\t\t\t\tGerman tax asset is depending on a successful \u00a0
\n\t\t\t\t\tturn-around of high-voltage business. The tax losses \u00a0
\n\t\t\t\t\tcarried forward from the German tax unit increased \u00a0
\n\t\t\t\t\tfrom EUR 311.8m in 2021 to EUR 387.9m in 2022. \u00a0
\n\t\t\t\t\tThe total deferred tax value amounts to EUR 124.1m. \u00a0
\n\t\t\t\t\tNKT Group has recognized a deferred tax hereof of \u00a0
\n\t\t\t\t\tEUR 30.7m at year-end (EUR 29.9m in 2021). \u00a0
\n\t\t\t\t\tThe tax losses carried forward in the Danish tax unit \u00a0
\n\t\t\t\t\twere fully utilized during 2022. \u00a0
\n\t\t\t\t\tThe tax losses carried forward at end-2022 in the \u00a0
\n\t\t\t\t\tSwedish tax unit sums up to EUR 6.3m, which lead \u00a0
\n\t\t\t\t\tto a deferred tax asset of EUR 1.3m (EUR 11.2m in \u00a0
\n\t\t\t\t\t2021). Further, a deferred tax asset of EUR 11.3 relat- \u00a0
\n\t\t\t\t\ting to interest carried forward has been recognized \u00a0
\n\t\t\t\t\t(EUR 12.0m in 2021). The deferred tax asset has \u00a0
\n\t\t\t\t\tbeen fully offset against a deferred tax liability. \u00a0
\n\t\t\t\t\tTax losses in Germany and Sweden has no expiry \u00a0
\n\t\t\t\t\tdate. \u00a0
NKT Group reported a net deferred tax liability of EUR \u00a0
\n\t\t\t\t\t43.2m (EUR 46.9m in 2021). The development mainly \u00a0
\n\t\t\t\t\trelates to deferred tax liability related to hedge ac- \u00a0
\n\t\t\t\t\tcounting recognized in other comprehensive income \u00a0
\n\t\t\t\t\tand deferred tax liability related to timing differences \u00a0
\n\t\t\t\t\tin revenue recognition in Germany and utilization of \u00a0
\n\t\t\t\t\ttax losses carried forward in Denmark and Sweden. \u00a0
Management judgement regarding deferred \u00a0
\n\t\t\t\t\ttax assets and provision for uncertain tax \u00a0
\n\t\t\t\t\tpositions \u00a0
\n\t\t\t\t\tDeferred tax assets relating to tax losses carried \u00a0
\n\t\t\t\t\tforward are recognized when Management assesses \u00a0
\n\t\t\t\t\tthat these can be utilized in a foreseeable future. \u00a0
\n\t\t\t\t\tThe assessment is performed at the reporting date \u00a0
\n\t\t\t\t\tconsidering local tax legislation and Management\u2019s \u00a0
\n\t\t\t\t\tbusiness plans. Planned changes to capital structure \u00a0
\n\t\t\t\t\tare included in the assessment. \u00a0
\n\t\t\t\t\tAs the NKT Group conducts business around the \u00a0
\n\t\t\t\t\tworld, tax and transfer pricing disputes with local \u00a0
\n\t\t\t\t\ttax authorities may occur. When assessing the \u00a0
\n\t\t\t\t\texpected outcome of these possible disputes, NKT \u00a0
\n\t\t\t\t\tGroup applies IFRIC 23 \u2018Uncertainty over Income \u00a0
\n\t\t\t\t\tTax Treatments\u2019 and methods directed herein when \u00a0
\n\t\t\t\t\tmaking provisions for uncertain tax positions. As \u00a0
\n\t\t\t\t\tthis is an assessment, the actual obligations may \u00a0
\n\t\t\t\t\tdeviate and will depend on the result of litigations \u00a0
\n\t\t\t\t\tand settlements with the tax authorities. Any taxes \u00a0
\n\t\t\t\t\trelating to tax disputes are included in \u2018Income tax \u00a0
\n\t\t\t\t\treceivables\u2019, \u2018Income tax payables\u2019 and \u2018Deferred tax\u2019 \u00a0
\n\t\t\t\t\tbased on an assessment of the most likely outcome \u00a0
\n\t\t\t\t\tof the disputes. \u00a0
Accounting policy \u00a0
\n\t\t\t\t\tCurrent income tax \u00a0
\n\t\t\t\t\tTax for the period, consists of the year\u2019s current tax, \u00a0
\n\t\t\t\t\tchange in deferred tax and adjustments related to \u00a0
\n\t\t\t\t\tprevious years. Tax for the period is recognized in \u00a0
\n\t\t\t\t\tthe income statement including the effect of coupon \u00a0
\n\t\t\t\t\tpayments on the hybrid capital. Tax relating to other \u00a0
\n\t\t\t\t\titems are recognized in other comprehensive income. \u00a0
\n\t\t\t\t\tCurrent tax payable and receivable is recognized in \u00a0
\n\t\t\t\t\tthe balance sheet as tax estimated on taxable in- \u00a0
\n\t\t\t\t\tcome for the year, adjusted for tax on taxable income \u00a0
\n\t\t\t\t\tfor previous years and for tax paid on account. \u00a0
Deferred tax \u00a0
\n\t\t\t\t\tDeferred tax is measured according to the balance \u00a0
\n\t\t\t\t\tsheet liability method on all temporary differences \u00a0
\n\t\t\t\t\tbetween the carrying amount and the tax base of \u00a0
\n\t\t\t\t\tassets and liabilities. However, deferred tax is not rec- \u00a0
\n\t\t\t\t\tognized on temporary differences relating to buildings \u00a0
\n\t\t\t\t\tand goodwill that for tax purposes do not qualify for \u00a0
\n\t\t\t\t\tdepreciation and amortization, respectively, nor on \u00a0
\n\t\t\t\t\tother items where temporary differences \u2013 except for \u00a0
\n\t\t\t\t\tacquisitions \u2013 arose at the acquisition date without \u00a0
\n\t\t\t\t\tinfluencing either net earnings or taxable income. \u00a0
\n\t\t\t\t\tWhere alternative taxation rules can be applied to \u00a0
\n\t\t\t\t\tdetermine the tax base, deferred tax is measured \u00a0
\n\t\t\t\t\taccording to Group Management\u2019s planned use of \u00a0
\n\t\t\t\t\tthe assets or settlement of the liabilities, respectively. \u00a0
Deferred tax assets, including the tax base of tax \u00a0
\n\t\t\t\t\tlosses allowed for carry forward, are recognized at \u00a0
\n\t\t\t\t\ttheir expected utilization value within the foreseeable \u00a0
\n\t\t\t\t\tfuture. \u00a0
\n\t\t\t\t\tDeferred tax assets and tax liabilities are offset if the \u00a0
\n\t\t\t\t\tcompany has a legal right to offset current tax assets \u00a0
\n\t\t\t\t\tand liabilities and intends to settle current tax assets \u00a0
\n\t\t\t\t\tand liabilities on a net basis or to realize the assets \u00a0
\n\t\t\t\t\tand liabilities simultaneously. \u00a0
Section 3 \u2013 Non-current assets and liabilities \u00a0
NKT Group\u2019s investments in non- \u00a0
\n\t\t\t\t\tcurrent assets form a basis for the \u00a0
\n\t\t\t\t\tGroup\u2019s operation and non-current \u00a0
\n\t\t\t\t\tliabilities arising as a result thereof. \u00a0
\n\t\t\t\t\tThe non-current liabilities in this \u00a0
\n\t\t\t\t\tsection are regarded as non interest- \u00a0
\n\t\t\t\t\tbearing. \u00a0
3.1 Intangible assets \u00a0
\n\t\t\t\t\tTrademarks, \u00a0
\n\t\t\t\t\tDevelopment \u00a0
\n\t\t\t\t\tIntangible \u00a0
\n\t\t\t\t\tTotal \u00a0
\n\t\t\t\t\tpatents and \u00a0
\n\t\t\t\t\tprojects \u00a0
\n\t\t\t\t\tassets under \u00a0
\n\t\t\t\t\tIntangible \u00a0
\n\t\t\t\t\tAmounts in EURm \u00a0
\n\t\t\t\t\tGoodwill \u00a0
\n\t\t\t\t\tlicences etc. \u00a0
\n\t\t\t\t\tIT software \u00a0
\n\t\t\t\t\tcompleted \u00a0
\n\t\t\t\t\tdevelopment \u00a0
\n\t\t\t\t\tassets \u00a0
\n\t\t\t\t\tCost, 1 January 2021 \u00a0
\n\t\t\t\t\t412.1 \u00a0
\n\t\t\t\t\t101.6 \u00a0
\n\t\t\t\t\t62.0 \u00a0
\n\t\t\t\t\t80.3 \u00a0
\n\t\t\t\t\t79.2 \u00a0
\n\t\t\t\t\t735.2 \u00a0
\n\t\t\t\t\tAdditions \u00a0
\n\t\t\t\t\t0.0 \u00a0
\n\t\t\t\t\t0.0 \u00a0
\n\t\t\t\t\t0.1 \u00a0
\n\t\t\t\t\t0.1 \u00a0
\n\t\t\t\t\t36.6 \u00a0
\n\t\t\t\t\t36.8 \u00a0
\n\t\t\t\t\tDisposals \u00a0
\n\t\t\t\t\t-1.3 \u00a0
\n\t\t\t\t\t0.0 \u00a0
\n\t\t\t\t\t-1.4 \u00a0
\n\t\t\t\t\t-1.6 \u00a0
\n\t\t\t\t\t0.0 \u00a0
\n\t\t\t\t\t-4.3 \u00a0
\n\t\t\t\t\tTransferred between classes of assets \u00a0
\n\t\t\t\t\t0.0 \u00a0
\n\t\t\t\t\t0.0 \u00a0
\n\t\t\t\t\t21.5 \u00a0
\n\t\t\t\t\t5.2 \u00a0
\n\t\t\t\t\t-26.7 \u00a0
\n\t\t\t\t\t0.0 \u00a0
\n\t\t\t\t\tExchange rate adjustments \u00a0
\n\t\t\t\t\t-6.4 \u00a0
\n\t\t\t\t\t-1.2 \u00a0
\n\t\t\t\t\t0.0 \u00a0
\n\t\t\t\t\t-0.5 \u00a0
\n\t\t\t\t\t-0.1 \u00a0
\n\t\t\t\t\t-8.2 \u00a0
\n\t\t\t\t\tCosts, 31 December 2021 \u00a0
\n\t\t\t\t\t404.4 \u00a0
\n\t\t\t\t\t100.4 \u00a0
\n\t\t\t\t\t82.2 \u00a0
\n\t\t\t\t\t83.5 \u00a0
\n\t\t\t\t\t89.0 \u00a0
\n\t\t\t\t\t759.5 \u00a0
\n\t\t\t\t\tAmortization and impairment, 1 January 2021 \u00a0
\n\t\t\t\t\t-1.3 \u00a0
\n\t\t\t\t\t-38.1 \u00a0
\n\t\t\t\t\t-32.2 \u00a0
\n\t\t\t\t\t-36.7 \u00a0
\n\t\t\t\t\t0.0 \u00a0
\n\t\t\t\t\t-108.3 \u00a0
\n\t\t\t\t\tAmortization for the year \u00a0
\n\t\t\t\t\t0.0 \u00a0
\n\t\t\t\t\t-8.2 \u00a0
\n\t\t\t\t\t-9.1 \u00a0
\n\t\t\t\t\t-16.9 \u00a0
\n\t\t\t\t\t0.0 \u00a0
\n\t\t\t\t\t-34.2 \u00a0
\n\t\t\t\t\tDisposals \u00a0
\n\t\t\t\t\t1.3 \u00a0
\n\t\t\t\t\t0.0 \u00a0
\n\t\t\t\t\t1.4 \u00a0
\n\t\t\t\t\t1.6 \u00a0
\n\t\t\t\t\t0.0 \u00a0
\n\t\t\t\t\t4.3 \u00a0
\n\t\t\t\t\tExchange rate adjustments \u00a0
\n\t\t\t\t\t0.0 \u00a0
\n\t\t\t\t\t0.3 \u00a0
\n\t\t\t\t\t-0.1 \u00a0
\n\t\t\t\t\t0.2 \u00a0
\n\t\t\t\t\t0.0 \u00a0
\n\t\t\t\t\t0.4 \u00a0
\n\t\t\t\t\tAmortization and impairment, 31 December 2021 \u00a0
\n\t\t\t\t\t0.0 \u00a0
\n\t\t\t\t\t-46.0 \u00a0
\n\t\t\t\t\t-40.0 \u00a0
\n\t\t\t\t\t-51.8 \u00a0
\n\t\t\t\t\t0.0 \u00a0
\n\t\t\t\t\t-137.8 \u00a0
\n\t\t\t\t\tCarrying amount, 31 December 2021 \u00a0
\n\t\t\t\t\t404.4 \u00a0
\n\t\t\t\t\t54.4 \u00a0
\n\t\t\t\t\t42.2 \u00a0
\n\t\t\t\t\t31.7 \u00a0
\n\t\t\t\t\t89.0 \u00a0
\n\t\t\t\t\t621.7 \u00a0
\n\t\t\t\t\tCost, 1 January 2022 \u00a0
\n\t\t\t\t\t404.4 \u00a0
\n\t\t\t\t\t100.4 \u00a0
\n\t\t\t\t\t82.2 \u00a0
\n\t\t\t\t\t83.5 \u00a0
\n\t\t\t\t\t89.0 \u00a0
\n\t\t\t\t\t759.5 \u00a0
\n\t\t\t\t\tDisposal of subsidiary \u00a0
\n\t\t\t\t\t0.0 \u00a0
\n\t\t\t\t\t-1.7 \u00a0
\n\t\t\t\t\t0.0 \u00a0
\n\t\t\t\t\t-7.7 \u00a0
\n\t\t\t\t\t-2.3 \u00a0
\n\t\t\t\t\t-11.7 \u00a0
\n\t\t\t\t\tAdditions \u00a0
\n\t\t\t\t\t0.0 \u00a0
\n\t\t\t\t\t0.0 \u00a0
\n\t\t\t\t\t1.1 \u00a0
\n\t\t\t\t\t0.2 \u00a0
\n\t\t\t\t\t39.3 \u00a0
\n\t\t\t\t\t40.6 \u00a0
\n\t\t\t\t\tDisposals \u00a0
\n\t\t\t\t\t0.0 \u00a0
\n\t\t\t\t\t0.0 \u00a0
\n\t\t\t\t\t0.0 \u00a0
\n\t\t\t\t\t-0.4 \u00a0
\n\t\t\t\t\t-0.1 \u00a0
\n\t\t\t\t\t-0.5 \u00a0
\n\t\t\t\t\tTransferred between classes of assets \u00a0
\n\t\t\t\t\t0.0 \u00a0
\n\t\t\t\t\t0.0 \u00a0
\n\t\t\t\t\t1.5 \u00a0
\n\t\t\t\t\t8.8 \u00a0
\n\t\t\t\t\t-10.3 \u00a0
\n\t\t\t\t\t0.0 \u00a0
\n\t\t\t\t\tTransferred to assets held for sale \u00a0
\n\t\t\t\t\t-25.3 \u00a0
\n\t\t\t\t\t-26.9 \u00a0
\n\t\t\t\t\t-7.8 \u00a0
\n\t\t\t\t\t-17.9 \u00a0
\n\t\t\t\t\t-24.4 \u00a0
\n\t\t\t\t\t-102.3 \u00a0
\n\t\t\t\t\tExchange rate adjustments \u00a0
\n\t\t\t\t\t-28.7 \u00a0
\n\t\t\t\t\t-5.6 \u00a0
\n\t\t\t\t\t-0.4 \u00a0
\n\t\t\t\t\t-3.2 \u00a0
\n\t\t\t\t\t-3.5 \u00a0
\n\t\t\t\t\t-41.4 \u00a0
\n\t\t\t\t\tCosts, 31 December 2022 \u00a0
\n\t\t\t\t\t350.4 \u00a0
\n\t\t\t\t\t66.2 \u00a0
\n\t\t\t\t\t76.6 \u00a0
\n\t\t\t\t\t63.3 \u00a0
\n\t\t\t\t\t87.7 \u00a0
\n\t\t\t\t\t644.2 \u00a0
\n\t\t\t\t\tAmortization and impairment, 1 January 2022 \u00a0
\n\t\t\t\t\t0.0 \u00a0
\n\t\t\t\t\t-46.0 \u00a0
\n\t\t\t\t\t-40.0 \u00a0
\n\t\t\t\t\t-51.8 \u00a0
\n\t\t\t\t\t0.0 \u00a0
\n\t\t\t\t\t-137.8 \u00a0
\n\t\t\t\t\tDisposal of subsidiary \u00a0
\n\t\t\t\t\t0.0 \u00a0
\n\t\t\t\t\t1.2 \u00a0
\n\t\t\t\t\t0.0 \u00a0
\n\t\t\t\t\t5.8 \u00a0
\n\t\t\t\t\t0.0 \u00a0
\n\t\t\t\t\t7.0 \u00a0
\n\t\t\t\t\tAmortization for the year \u00a0
\n\t\t\t\t\t0.0 \u00a0
\n\t\t\t\t\t-6.3 \u00a0
\n\t\t\t\t\t-8.5 \u00a0
\n\t\t\t\t\t-11.6 \u00a0
\n\t\t\t\t\t0.0 \u00a0
\n\t\t\t\t\t-26.4 \u00a0
\n\t\t\t\t\tDisposals \u00a0
\n\t\t\t\t\t0.0 \u00a0
\n\t\t\t\t\t0.0 \u00a0
\n\t\t\t\t\t0.0 \u00a0
\n\t\t\t\t\t0.4 \u00a0
\n\t\t\t\t\t0.0 \u00a0
\n\t\t\t\t\t0.4 \u00a0
\n\t\t\t\t\tTransferred to assets held for sale \u00a0
\n\t\t\t\t\t0.0 \u00a0
\n\t\t\t\t\t22.3 \u00a0
\n\t\t\t\t\t2.7 \u00a0
\n\t\t\t\t\t12.3 \u00a0
\n\t\t\t\t\t0.0 \u00a0
\n\t\t\t\t\t37.3 \u00a0
\n\t\t\t\t\tExchange rate adjustments \u00a0
\n\t\t\t\t\t0.0 \u00a0
\n\t\t\t\t\t2.0 \u00a0
\n\t\t\t\t\t0.4 \u00a0
\n\t\t\t\t\t1.3 \u00a0
\n\t\t\t\t\t0.0 \u00a0
\n\t\t\t\t\t3.7 \u00a0
\n\t\t\t\t\tAmortization and impairment, 31 December 2022 \u00a0
\n\t\t\t\t\t0.0 \u00a0
\n\t\t\t\t\t-26.8 \u00a0
\n\t\t\t\t\t-45.4 \u00a0
\n\t\t\t\t\t-43.6 \u00a0
\n\t\t\t\t\t0.0 \u00a0
\n\t\t\t\t\t-115.8 \u00a0
\n\t\t\t\t\tCarrying amount, 31 December 2022 \u00a0
\n\t\t\t\t\t350.4 \u00a0
\n\t\t\t\t\t39.4 \u00a0
\n\t\t\t\t\t31.2 \u00a0
\n\t\t\t\t\t19.7 \u00a0
\n\t\t\t\t\t87.7 \u00a0
\n\t\t\t\t\t528.4 \u00a0
Accounting policy \u00a0
\n\t\t\t\t\tGoodwill is initially recognized in the balance sheet \u00a0
\n\t\t\t\t\tat cost. Subsequently, goodwill is measured at cost \u00a0
\n\t\t\t\t\tless accumulated impairment losses and is not \u00a0
\n\t\t\t\t\tamortized. \u00a0
\n\t\t\t\t\tThe carrying amount of goodwill is allocated to NKT \u00a0
\n\t\t\t\t\tGroup\u2019s cash-generating units at the acquisition date. \u00a0
\n\t\t\t\t\tCash-generating units is based on the managerial \u00a0
\n\t\t\t\t\tstructure and internal financial control. As a result \u00a0
\n\t\t\t\t\tof the integration of acquisitions in the existing NKT \u00a0
\n\t\t\t\t\tGroup, and identification of operating segments \u00a0
\n\t\t\t\t\tbased on the presence of segment managers, Group \u00a0
\n\t\t\t\t\tManagement finds that the smallest cash-generating \u00a0
\n\t\t\t\t\tunits to which the carrying amount of goodwill can \u00a0
\n\t\t\t\t\tbe allocated during testing for impairment are the \u00a0
\n\t\t\t\t\treportable segments. \u00a0
\n\t\t\t\t\tOther intangible assets, which includes IT \u00a0
\n\t\t\t\t\tsoftware, trademarks, patents and licences, are \u00a0
\n\t\t\t\t\tmeasured at cost less accumulated amortization and \u00a0
\n\t\t\t\t\timpairment losses and are amortized on a straight- \u00a0
\n\t\t\t\t\tline basis over the remaining patent or contract \u00a0
\n\t\t\t\t\tperiod or the useful life, whichever is the shorter. \u00a0
\n\t\t\t\t\tExpected useful life is determined as follow: \u00a0
\n\t\t\t\t\tTrademarks, patents and licences, etc.
3 \u201315 years \u00a0
\n\t\t\t\t\tIT software \u00a0
\n\t\t\t\t\t3 \u2013 8 years \u00a0
3.2 Property, plant and equipment \u00a0
\n\t\t\t\t\tRight-of-use assets are recognized as follows: \u00a0
\n\t\t\t\t\tManu- \u00a0
\n\t\t\t\t\tFixtures, \u00a0
\n\t\t\t\t\tfacturing \u00a0
\n\t\t\t\t\tfittings, \u00a0
\n\t\t\t\t\tLand and \u00a0
\n\t\t\t\t\tplant and \u00a0
\n\t\t\t\t\ttools and \u00a0
\n\t\t\t\t\tAmounts in EURm \u00a0
\n\t\t\t\t\tbuildings \u00a0
\n\t\t\t\t\tmachinery \u00a0
\n\t\t\t\t\tequipment \u00a0
\n\t\t\t\t\tTotal \u00a0
\n\t\t\t\t\tCarrying amount, 1 January 2021 \u00a0
\n\t\t\t\t\t36.4 \u00a0
\n\t\t\t\t\t8.2 \u00a0
\n\t\t\t\t\t0.7 \u00a0
\n\t\t\t\t\t45.3 \u00a0
\n\t\t\t\t\tAddition for the year \u00a0
\n\t\t\t\t\t11.0 \u00a0
\n\t\t\t\t\t0.0 \u00a0
\n\t\t\t\t\t0.7 \u00a0
\n\t\t\t\t\t11.7 \u00a0
\n\t\t\t\t\tDepreciation of right-of-use assets \u00a0
\n\t\t\t\t\t-6.6 \u00a0
\n\t\t\t\t\t-1.0 \u00a0
\n\t\t\t\t\t-0.4 \u00a0
\n\t\t\t\t\t-8.0 \u00a0
\n\t\t\t\t\tExchange rate adjustments \u00a0
\n\t\t\t\t\t-0.2 \u00a0
\n\t\t\t\t\t-0.1 \u00a0
\n\t\t\t\t\t-0.1 \u00a0
\n\t\t\t\t\t-0.4 \u00a0
\n\t\t\t\t\tThe carrying amount of right-of-use assets, \u00a0
\n\t\t\t\t\t31 December 2021 \u00a0
\n\t\t\t\t\t40.6 \u00a0
\n\t\t\t\t\t7.1 \u00a0
\n\t\t\t\t\t0.9 \u00a0
\n\t\t\t\t\t48.6 \u00a0
\n\t\t\t\t\tCarrying amount, 1 January 2022 \u00a0
\n\t\t\t\t\t40.6 \u00a0
\n\t\t\t\t\t7.1 \u00a0
\n\t\t\t\t\t0.9 \u00a0
\n\t\t\t\t\t48.6 \u00a0
\n\t\t\t\t\tAddition for the year \u00a0
\n\t\t\t\t\t1.8 \u00a0
\n\t\t\t\t\t0.0 \u00a0
\n\t\t\t\t\t0.0 \u00a0
\n\t\t\t\t\t1.8 \u00a0
\n\t\t\t\t\tDisposals for the year \u00a0
\n\t\t\t\t\t0.5 \u00a0
\n\t\t\t\t\t0.0 \u00a0
\n\t\t\t\t\t0.0 \u00a0
\n\t\t\t\t\t0.5 \u00a0
\n\t\t\t\t\tDisposal of subsidiaries \u00a0
\n\t\t\t\t\t-0.5 \u00a0
\n\t\t\t\t\t0.0 \u00a0
\n\t\t\t\t\t0.0 \u00a0
\n\t\t\t\t\t-0.5 \u00a0
\n\t\t\t\t\tDepreciation of right-of-use assets \u00a0
\n\t\t\t\t\t-5.4 \u00a0
\n\t\t\t\t\t-1.0 \u00a0
\n\t\t\t\t\t-0.4 \u00a0
\n\t\t\t\t\t-6.8 \u00a0
\n\t\t\t\t\tTransferred to assets held for sale \u00a0
\n\t\t\t\t\t-6.5 \u00a0
\n\t\t\t\t\t0.0 \u00a0
\n\t\t\t\t\t0.0 \u00a0
\n\t\t\t\t\t-6.5 \u00a0
\n\t\t\t\t\tExchange rate adjustments \u00a0
\n\t\t\t\t\t-1.0 \u00a0
\n\t\t\t\t\t0.0 \u00a0
\n\t\t\t\t\t0.0 \u00a0
\n\t\t\t\t\t-1.0 \u00a0
\n\t\t\t\t\tThe carrying amount of right-of-use assets, \u00a0
\n\t\t\t\t\t31 December 2022 \u00a0
\n\t\t\t\t\t29.5 \u00a0
\n\t\t\t\t\t6.1 \u00a0
\n\t\t\t\t\t0.5 \u00a0
\n\t\t\t\t\t36.1 \u00a0
\n\t\t\t\t\tAmounts recognized in the income statement: \u00a0
\n\t\t\t\t\tAmounts in EURm \u00a0
\n\t\t\t\t\t2022 \u00a0
\n\t\t\t\t\t2021 \u00a0
\n\t\t\t\t\tCosts relating to other immaterial leases including short term \u00a0
\n\t\t\t\t\tand low value leases, recognized in the income statement \u00a0
\n\t\t\t\t\t7.8 \u00a0
\n\t\t\t\t\t7.1 \u00a0
\n\t\t\t\t\tLease liabilities and interests relating to recognized lease contracts are included in Section 5.4 and 5.5 respec- \u00a0
\n\t\t\t\t\ttively. Future minimum lease payments relating to leases not recognized in the balance sheet amount to EUR \u00a0
\n\t\t\t\t\t11.6m (EUR 13.4m in 2021). \u00a0
NKT Group has no leases where the rent is variable \u00a0
\n\t\t\t\t\tdepending on revenue, etc. Some contracts are ex- \u00a0
\n\t\t\t\t\tposed to future increases in variable lease payments \u00a0
\n\t\t\t\t\tbased on an index or rate, which are included in the \u00a0
\n\t\t\t\t\tlease liability when they take effect. \u00a0
Payments related to short-term leases and leases \u00a0
\n\t\t\t\t\tof low-value assets continue to be recognized on \u00a0
\n\t\t\t\t\ta straight-line basis as an expense in the income \u00a0
\n\t\t\t\t\tstatement. Low-value assets mainly comprise minor \u00a0
\n\t\t\t\t\tbuildings, cars, forklifts, IT-equipment and other office \u00a0
\n\t\t\t\t\tequipment. \u00a0
Accounting policy \u00a0
\n\t\t\t\t\tContracts relating to leased equipment are usually \u00a0
\n\t\t\t\t\tmade for a fixed period, whereas lease contracts \u00a0
\n\t\t\t\t\tfor buildings and land in some instances include an \u00a0
\n\t\t\t\t\toption to extend the lease. When assessing the life of \u00a0
\n\t\t\t\t\tthe leases, NKT considers the non-cancellable lease \u00a0
\n\t\t\t\t\tterm and options to extend the lease where it is rea- \u00a0
\n\t\t\t\t\tsonably certain to extend. The lease period of offices \u00a0
\n\t\t\t\t\tand sales buildings are assessed to be approximately \u00a0
\n\t\t\t\t\t3-10 years, for production facilities 5-10 years and \u00a0
\n\t\t\t\t\tfor land up to 20 years. For other assets the lease \u00a0
\n\t\t\t\t\tterm is equal to the non-cancelable lease period and \u00a0
\n\t\t\t\t\textensions are not considered. The right-of-use asset \u00a0
\n\t\t\t\t\tis depreciated over the shorter of the asset\u2019s useful \u00a0
\n\t\t\t\t\tlife and the lease term on a straight-line basis. \u00a0
Property, \u00a0
\n\t\t\t\t\tManu- \u00a0
\n\t\t\t\t\tFixtures, \u00a0
\n\t\t\t\t\tplant and \u00a0
\n\t\t\t\t\tTotal \u00a0
\n\t\t\t\t\tfacturing \u00a0
\n\t\t\t\t\tfittings, \u00a0
\n\t\t\t\t\tequipment \u00a0
\n\t\t\t\t\tproperty, \u00a0
\n\t\t\t\t\tLand and \u00a0
\n\t\t\t\t\tplant and \u00a0
\n\t\t\t\t\ttools and
under con- \u00a0
\n\t\t\t\t\tplant and \u00a0
\n\t\t\t\t\tAmounts in EURm \u00a0
\n\t\t\t\t\tbuildings \u00a0
\n\t\t\t\t\tmachinery \u00a0
\n\t\t\t\t\tequipment \u00a0
\n\t\t\t\t\tstruction \u00a0
\n\t\t\t\t\tequipment \u00a0
\n\t\t\t\t\tCost, 1 January 2021 \u00a0
\n\t\t\t\t\t396.5 \u00a0
\n\t\t\t\t\t636.2 \u00a0
\n\t\t\t\t\t120.9 \u00a0
\n\t\t\t\t\t56.4 \u00a0
\n\t\t\t\t\t1,210.0 \u00a0
\n\t\t\t\t\tAdditions \u00a0
\n\t\t\t\t\t13.4 \u00a0
\n\t\t\t\t\t5.4 \u00a0
\n\t\t\t\t\t10.4 \u00a0
\n\t\t\t\t\t173.8 \u00a0
\n\t\t\t\t\t203.0 \u00a0
\n\t\t\t\t\tDisposals \u00a0
\n\t\t\t\t\t-2.0 \u00a0
\n\t\t\t\t\t-2.3 \u00a0
\n\t\t\t\t\t-1.8 \u00a0
\n\t\t\t\t\t0.0 \u00a0
\n\t\t\t\t\t-6.1 \u00a0
\n\t\t\t\t\tTransferred between classes of assets \u00a0
\n\t\t\t\t\t0.2 \u00a0
\n\t\t\t\t\t34.2 \u00a0
\n\t\t\t\t\t2.8 \u00a0
\n\t\t\t\t\t-37.2 \u00a0
\n\t\t\t\t\t0.0 \u00a0
\n\t\t\t\t\tExchange rate adjustments \u00a0
\n\t\t\t\t\t2.5 \u00a0
\n\t\t\t\t\t1.5 \u00a0
\n\t\t\t\t\t-0.8 \u00a0
\n\t\t\t\t\t-0.8 \u00a0
\n\t\t\t\t\t2.4 \u00a0
\n\t\t\t\t\tCost, 31 December 2021 \u00a0
\n\t\t\t\t\t410.6 \u00a0
\n\t\t\t\t\t675.0 \u00a0
\n\t\t\t\t\t131.5 \u00a0
\n\t\t\t\t\t192.2 \u00a0
\n\t\t\t\t\t1,409.3 \u00a0
\n\t\t\t\t\tDepreciation and impairment, 1 January 2021 \u00a0
\n\t\t\t\t\t-104.7 \u00a0
\n\t\t\t\t\t-374.3 \u00a0
\n\t\t\t\t\t-72.6 \u00a0
\n\t\t\t\t\t-0.8 \u00a0
\n\t\t\t\t\t-552.4 \u00a0
\n\t\t\t\t\tDepreciation for the year \u00a0
\n\t\t\t\t\t-16.7 \u00a0
\n\t\t\t\t\t-42.8 \u00a0
\n\t\t\t\t\t-15.4 \u00a0
\n\t\t\t\t\t0.0 \u00a0
\n\t\t\t\t\t-74.9 \u00a0
\n\t\t\t\t\tDisposals \u00a0
\n\t\t\t\t\t1.7 \u00a0
\n\t\t\t\t\t2.1 \u00a0
\n\t\t\t\t\t1.8 \u00a0
\n\t\t\t\t\t0.0 \u00a0
\n\t\t\t\t\t5.6 \u00a0
\n\t\t\t\t\tExchange rate adjustments \u00a0
\n\t\t\t\t\t-2.5 \u00a0
\n\t\t\t\t\t-2.5 \u00a0
\n\t\t\t\t\t0.3 \u00a0
\n\t\t\t\t\t0.0 \u00a0
\n\t\t\t\t\t-4.7 \u00a0
\n\t\t\t\t\tDepreciation and impairment, 31 December 2021 \u00a0
\n\t\t\t\t\t-122.2 \u00a0
\n\t\t\t\t\t-417.5 \u00a0
\n\t\t\t\t\t-85.9 \u00a0
\n\t\t\t\t\t-0.8 \u00a0
\n\t\t\t\t\t-626.4 \u00a0
\n\t\t\t\t\tCarrying amount, 31 December 2021 \u00a0
\n\t\t\t\t\t288.4 \u00a0
\n\t\t\t\t\t257.5 \u00a0
\n\t\t\t\t\t45.6 \u00a0
\n\t\t\t\t\t191.4 \u00a0
\n\t\t\t\t\t782.9 \u00a0
\n\t\t\t\t\tCost, 1 January 2022 \u00a0
\n\t\t\t\t\t410.6 \u00a0
\n\t\t\t\t\t675.0 \u00a0
\n\t\t\t\t\t131.5 \u00a0
\n\t\t\t\t\t192.2 \u00a0
\n\t\t\t\t\t1,409.3 \u00a0
\n\t\t\t\t\tAdditions \u00a0
\n\t\t\t\t\t4.2 \u00a0
\n\t\t\t\t\t20.6 \u00a0
\n\t\t\t\t\t2.6 \u00a0
\n\t\t\t\t\t134.5 \u00a0
\n\t\t\t\t\t161.9 \u00a0
\n\t\t\t\t\tAdditions from business combinations \u00a0
\n\t\t\t\t\t6.4 \u00a0
\n\t\t\t\t\t12.7 \u00a0
\n\t\t\t\t\t0.2 \u00a0
\n\t\t\t\t\t1.6 \u00a0
\n\t\t\t\t\t20.9 \u00a0
\n\t\t\t\t\tDisposals \u00a0
\n\t\t\t\t\t-0.4 \u00a0
\n\t\t\t\t\t-7.3 \u00a0
\n\t\t\t\t\t-2.2 \u00a0
\n\t\t\t\t\t-1.3 \u00a0
\n\t\t\t\t\t-11.2 \u00a0
\n\t\t\t\t\tDisposal of subsidiaries \u00a0
\n\t\t\t\t\t-1.6 \u00a0
\n\t\t\t\t\t-0.3 \u00a0
\n\t\t\t\t\t-3.9 \u00a0
\n\t\t\t\t\t0.0 \u00a0
\n\t\t\t\t\t-5.8 \u00a0
\n\t\t\t\t\tTransferred between classes of assets \u00a0
\n\t\t\t\t\t33.4 \u00a0
\n\t\t\t\t\t53.2 \u00a0
\n\t\t\t\t\t16.2 \u00a0
\n\t\t\t\t\t-102.8 \u00a0
\n\t\t\t\t\t0.0 \u00a0
\n\t\t\t\t\tTransferred to assets held for sale \u00a0
\n\t\t\t\t\t-20.9 \u00a0
\n\t\t\t\t\t-16.5 \u00a0
\n\t\t\t\t\t-9.5 \u00a0
\n\t\t\t\t\t-3.4 \u00a0
\n\t\t\t\t\t-50.3 \u00a0
\n\t\t\t\t\tExchange rate adjustments \u00a0
\n\t\t\t\t\t-13.9 \u00a0
\n\t\t\t\t\t-10.2 \u00a0
\n\t\t\t\t\t-5.8 \u00a0
\n\t\t\t\t\t-11.3 \u00a0
\n\t\t\t\t\t-41.2 \u00a0
\n\t\t\t\t\tCost, 31 December 2022 \u00a0
\n\t\t\t\t\t417.8 \u00a0
\n\t\t\t\t\t727.2 \u00a0
\n\t\t\t\t\t129.1 \u00a0
\n\t\t\t\t\t209.5 \u00a0
\n\t\t\t\t\t1,483.6 \u00a0
\n\t\t\t\t\tDepreciation and impairment, 1 January 2022 \u00a0
\n\t\t\t\t\t-122.2 \u00a0
\n\t\t\t\t\t-417.5 \u00a0
\n\t\t\t\t\t-85.9 \u00a0
\n\t\t\t\t\t-0.8 \u00a0
\n\t\t\t\t\t-626.4 \u00a0
\n\t\t\t\t\tDepreciation for the year \u00a0
\n\t\t\t\t\t-15.5 \u00a0
\n\t\t\t\t\t-37.7 \u00a0
\n\t\t\t\t\t-12.4 \u00a0
\n\t\t\t\t\t0.0 \u00a0
\n\t\t\t\t\t-65.6 \u00a0
\n\t\t\t\t\tDisposals \u00a0
\n\t\t\t\t\t0.2 \u00a0
\n\t\t\t\t\t7.1 \u00a0
\n\t\t\t\t\t2.4 \u00a0
\n\t\t\t\t\t0.8 \u00a0
\n\t\t\t\t\t10.5 \u00a0
\n\t\t\t\t\tDisposal of subsidiaries \u00a0
\n\t\t\t\t\t1.1 \u00a0
\n\t\t\t\t\t0.0 \u00a0
\n\t\t\t\t\t3.4 \u00a0
\n\t\t\t\t\t0.0 \u00a0
\n\t\t\t\t\t4.5 \u00a0
\n\t\t\t\t\tTransferred to assets held for sale \u00a0
\n\t\t\t\t\t8.7 \u00a0
\n\t\t\t\t\t13.7 \u00a0
\n\t\t\t\t\t5.8 \u00a0
\n\t\t\t\t\t0.0 \u00a0
\n\t\t\t\t\t28.2 \u00a0
\n\t\t\t\t\tExchange rate adjustments \u00a0
\n\t\t\t\t\t2.3 \u00a0
\n\t\t\t\t\t5.1 \u00a0
\n\t\t\t\t\t2.6 \u00a0
\n\t\t\t\t\t0.0 \u00a0
\n\t\t\t\t\t10.1 \u00a0
\n\t\t\t\t\tDepreciation and impairment, 31 December 2022 \u00a0
\n\t\t\t\t\t-125.4 \u00a0
\n\t\t\t\t\t-429.3 \u00a0
\n\t\t\t\t\t-84.1 \u00a0
\n\t\t\t\t\t0.0 \u00a0
\n\t\t\t\t\t-638.8 \u00a0
\n\t\t\t\t\tCarrying amount, 31 December 2022 \u00a0
\n\t\t\t\t\t292.4 \u00a0
\n\t\t\t\t\t297.9 \u00a0
\n\t\t\t\t\t45.0 \u00a0
\n\t\t\t\t\t209.5 \u00a0
\n\t\t\t\t\t844.8 \u00a0
Accounting policy \u00a0
\n\t\t\t\t\tProperty, plant and equipment are measured at cost less accumulated depreciation and \u00a0
\n\t\t\t\t\timpairment losses. \u00a0
\n\t\t\t\t\tThe cost comprises the purchase price and any costs directly attributable to the acquisition. \u00a0
\n\t\t\t\t\tThe cost of self-constructed assets comprises costs of materials, components, subcon- \u00a0
\n\t\t\t\t\ttractors and wages. The cost is supplemented by the present value of estimated liabilities \u00a0
\n\t\t\t\t\trelated to dismantling and removing the asset and restoring the site on which the asset was \u00a0
\n\t\t\t\t\tutilized. \u00a0
\n\t\t\t\t\tSubsequent costs, e.g. relating to replacement of parts of an item of property, plant and \u00a0
\n\t\t\t\t\tequipment, are recognized in the carrying amount of the asset if it is likely that the costs will \u00a0
\n\t\t\t\t\tresult in future economic benefits for the Group. All other costs relating to ordinary repair and \u00a0
\n\t\t\t\t\tmaintenance are recognized in the income statement as incurred. \u00a0
\n\t\t\t\t\tDepreciation is done on a straight-line basis over the expected useful life of the assets, as \u00a0
\n\t\t\t\t\tfollows: \u00a0
\n\t\t\t\t\tBuildings \u00a0
\n\t\t\t\t\t10 \u2013 50 years \u00a0
\n\t\t\t\t\tManufacturing plant and machinery \u00a0
\n\t\t\t\t\t4 \u2013 20 years \u00a0
\n\t\t\t\t\tFixtures, fittings, tools and equipment \u00a0
\n\t\t\t\t\t3 \u2013 15 years \u00a0
\n\t\t\t\t\tVessel \u00a0
\n\t\t\t\t\t20 years \u00a0
\n\t\t\t\t\tLand is not depreciated \u00a0
\n\t\t\t\t\tIf individual parts of an item of property, plant and equipment have different useful lives, they \u00a0
\n\t\t\t\t\tare depreciated separately. \u00a0
\n\t\t\t\t\tThe basis of depreciation is calculated according to the residual value less impairment \u00a0
\n\t\t\t\t\tlosses. The residual value is determined at the acquisition date and reviewed annually. If the \u00a0
\n\t\t\t\t\tresidual value exceeds the carrying amount, depreciation is discontinued. \u00a0
3.3 Impairment test \u00a0
\n\t\t\t\t\tResult of the annual impairment test \u00a0
\n\t\t\t\t\tAt 31 December 2022, the carrying amount of good- \u00a0
\n\t\t\t\t\twill, other intangible assets and tangible assets were \u00a0
\n\t\t\t\t\ttested for impairment. The impairment test showed \u00a0
\n\t\t\t\t\tno impairment for 2022 (no impairment in 2021). \u00a0
\n\t\t\t\t\tThe recoverable amount per cash-generating unit \u00a0
\n\t\t\t\t\texceeded the carrying amount of goodwill, other \u00a0
\n\t\t\t\t\tintangible assets and other assets allocated to the \u00a0
\n\t\t\t\t\tcash-generating unit with the following amounts at 31 \u00a0
\n\t\t\t\t\tDecember: \u00a0
\n\t\t\t\t\tHeadroom in EURm \u00a0
\n\t\t\t\t\t2022 \u00a0
\n\t\t\t\t\t2021 \u00a0
\n\t\t\t\t\tCash-generating units \u00a0
\n\t\t\t\t\tSolutions \u00a0
\n\t\t\t\t\t831 \u00a0
\n\t\t\t\t\t303 \u00a0
\n\t\t\t\t\tService & Accessories \u00a0
\n\t\t\t\t\t120 \u00a0
\n\t\t\t\t\t152 \u00a0
\n\t\t\t\t\tCash-generating units \u00a0
\n\t\t\t\t\tCash-generating units identified in NKT Group are \u00a0
\n\t\t\t\t\tsimilar to the operating segments, being Solutions, \u00a0
\n\t\t\t\t\tApplications and Service & Accessories. These are \u00a0
\n\t\t\t\t\tconsidered to be the lowest level of cash-generating \u00a0
\n\t\t\t\t\tunits as defined by management. \u00a0
\n\t\t\t\t\tThe definition of cash-generating units is based on \u00a0
\n\t\t\t\t\tthe smallest identifiable group of assets that together \u00a0
\n\t\t\t\t\tgenerate cash inflows from continued use and which \u00a0
\n\t\t\t\t\tare independent of the cash flows from other assets \u00a0
\n\t\t\t\t\tor groups of assets. \u00a0
\n\t\t\t\t\tThe definition of cash-generating units complies with \u00a0
\n\t\t\t\t\tthe managerial structure and the internal financial re- \u00a0
\n\t\t\t\t\tporting in NKT Group. For impairment test purposes, \u00a0
\n\t\t\t\t\ttangible assets and intangible assets are allocated to \u00a0
\n\t\t\t\t\tthe respective cash-generating units. \u00a0
Significant estimates \u00a0
\n\t\t\t\t\tGoodwill \u00a0
\n\t\t\t\t\tGoodwill has been allocated to the cash-generating units according to the split present- \u00a0
\n\t\t\t\t\ted below. The goodwill level in Applications was immaterial and the assumptions for the \u00a0
\n\t\t\t\t\timpairment test of goodwill are not described any further for this cash-generating unit. The \u00a0
\n\t\t\t\t\tcarrying amount of goodwill was as follows: \u00a0
Amounts in EURm \u00a0
\n\t\t\t\t\t2022 \u00a0
\n\t\t\t\t\t2021 \u00a0
\n\t\t\t\t\tSolutions \u00a0
\n\t\t\t\t\t298.1 \u00a0
\n\t\t\t\t\t323.3 \u00a0
\n\t\t\t\t\tApplications \u00a0
\n\t\t\t\t\t6.7 \u00a0
\n\t\t\t\t\t6.5 \u00a0
\n\t\t\t\t\tService & Accessories \u00a0
\n\t\t\t\t\t45.6 \u00a0
\n\t\t\t\t\t49.3 \u00a0
\n\t\t\t\t\tNKT Photonics \u00a0
\n\t\t\t\t\t-
\n\t\t\t\t\t25.3 \u00a0
\n\t\t\t\t\tTotal \u00a0
\n\t\t\t\t\t350.4 \u00a0
\n\t\t\t\t\t404.4 \u00a0
Key Assumptions \u00a0
\n\t\t\t\t\tThe recoverable amount is based on a value-in-use calculation. For all cash-generating \u00a0
\n\t\t\t\t\tunits, the calculation uses cash flow projections (budget period) based on financial budget \u00a0
\n\t\t\t\t\tfor 2023 and financial forecasts for 2024\u20132028, hence a 6 year budget period. Significant \u00a0
\n\t\t\t\t\tparameters in these estimates are revenue growth, EBITDA margin, discount rate, working \u00a0
\n\t\t\t\t\tcapital and growth expectations for the terminal period. \u00a0
\n\t\t\t\t\tThe discount rate has been revised for each cash-generating unit to reflect the latest market \u00a0
\n\t\t\t\t\tassumptions for the risk-free rate based on a 5-year German government bond, the equity \u00a0
\n\t\t\t\t\trisk premium and the cost of debt.The long-term growth rate for the terminal period is based \u00a0
\n\t\t\t\t\ton the expected growth in the world economy as well as long-term development for the \u00a0
\n\t\t\t\t\tindustries and markets in which the cash-generating units operate. \u00a0
\n\t\t\t\t\tGroup Management determines, as illustrated on the following page, the expected annual \u00a0
\n\t\t\t\t\tgrowth rate in the budget period, the expected margins based on historical experience and \u00a0
\n\t\t\t\t\tthe assumptions about expected market developments. These assumptions are by nature \u00a0
\n\t\t\t\t\tsubject to uncertainty, which is why attention to the sensitivity analysis provided is recom- \u00a0
\n\t\t\t\t\tmended. \u00a0
Accounting policy \u00a0
\n\t\t\t\t\tGoodwill, intangible assets with indefinite useful lives and development \u00a0
\n\t\t\t\t\tprojects are tested at least annually for impairment, and furthermore \u00a0
\n\t\t\t\t\twhen a trigger event occurs. \u00a0
\n\t\t\t\t\tThe carrying amount of goodwill is tested for impairment together with \u00a0
\n\t\t\t\t\tthe other non-current assets in the cash-generating unit to which good- \u00a0
\n\t\t\t\t\twill is allocated. The recoverable amount is generally computed as the \u00a0
\n\t\t\t\t\tpresent value of the expected future net cash flows from the business or \u00a0
\n\t\t\t\t\tactivity (cash-generating unit) to which goodwill is allocated. \u00a0
\n\t\t\t\t\tOther non-current assets \u00a0
\n\t\t\t\t\tThe carrying amount of other non-current assets is tested when a trigger \u00a0
\n\t\t\t\t\tevent occurs which could indicate an impairment, in which case, the \u00a0
\n\t\t\t\t\trecoverable amount of the asset is determined. The recoverable amount \u00a0
\n\t\t\t\t\tis the fair value of the asset less anticipated cost of disposal, or its value- \u00a0
\n\t\t\t\t\tin-use, whichever is the higher. \u00a0
\n\t\t\t\t\tThe value-in-use is calculated as the present value of expected future \u00a0
\n\t\t\t\t\tcash flows from the asset or the cash-generating unit of which the asset \u00a0
\n\t\t\t\t\tis part. \u00a0
\n\t\t\t\t\tRecognition of impairment loss in the income statement \u00a0
\n\t\t\t\t\tImpairment is recognized if the carrying amount of an asset or a \u00a0
\n\t\t\t\t\tcash-generating unit exceeds the respective recoverable amount. The \u00a0
\n\t\t\t\t\timpairment is recognized in the income statement and impairment of \u00a0
\n\t\t\t\t\tgoodwill is recognized in a separate line item in the income statement. \u00a0
\n\t\t\t\t\tImpairment of goodwill is not reversed. Impairment of other assets is re- \u00a0
\n\t\t\t\t\tversed in the event of changes having taken place in the conditions and \u00a0
\n\t\t\t\t\testimates on which the impairment calculation was based. Impairment \u00a0
\n\t\t\t\t\tis only reversed if the new carrying amount of the asset does not exceed \u00a0
\n\t\t\t\t\tthe carrying amount that would have applied after amortization if the \u00a0
\n\t\t\t\t\tasset had not been impaired. \u00a0
Solutions \u00a0
\n\t\t\t\t\tBudget period \u00a0
\n\t\t\t\t\tTerminal period \u00a0
\n\t\t\t\t\t2022 \u00a0
\n\t\t\t\t\t2021 \u00a0
\n\t\t\t\t\t2022 \u00a0
\n\t\t\t\t\t2021 \u00a0
\n\t\t\t\t\tKey assumptions1 \u00a0
\n\t\t\t\t\tAverage revenue growth rate \u00a0
\n\t\t\t\t\t13.0% \u00a0
\n\t\t\t\t\t13.3% \u00a0
\n\t\t\t\t\t-
\n\t\t\t\t\t-
\n\t\t\t\t\tAverage EBITDA margin \u00a0
\n\t\t\t\t\t17.5% \u00a0
\n\t\t\t\t\t14.0% \u00a0
\n\t\t\t\t\t-
\n\t\t\t\t\t-
\n\t\t\t\t\tGrowth rate \u00a0
\n\t\t\t\t\t-
\n\t\t\t\t\t-
\n\t\t\t\t\t2.0% \u00a0
\n\t\t\t\t\t1.5% \u00a0
\n\t\t\t\t\tAverage working capital ratio
-46.3% -20.4% \u00a0
\n\t\t\t\t\t-
\n\t\t\t\t\t-
\n\t\t\t\t\tDiscount rate after tax \u00a0
\n\t\t\t\t\t10.0% \u00a0
\n\t\t\t\t\t6.8% \u00a0
\n\t\t\t\t\t10.0% \u00a0
\n\t\t\t\t\t7.8% \u00a0
\n\t\t\t\t\tDiscount rate before tax \u00a0
\n\t\t\t\t\t13.3% \u00a0
\n\t\t\t\t\t9.1% \u00a0
\n\t\t\t\t\t13.3% \u00a0
\n\t\t\t\t\t10.4% \u00a0
\n\t\t\t\t\tSensitivity \u00a0
\n\t\t\t\t\tDiscount rate after tax \u00a0
\n\t\t\t\t\t19.2% \u00a0
\n\t\t\t\t\t9.9% \u00a0
\n\t\t\t\t\tGrowth rate \u00a0
\n\t\t\t\t\t-16.7% \u00a0
\n\t\t\t\t\t-3.1% \u00a0
\n\t\t\t\t\tChange in EBITDA \u00a0
\n\t\t\t\t\t-49.7% -20.0% \u00a0
In 2022, Solutions was awarded additional high-voltage cable projects \u00a0
\n\t\t\t\t\tmaintaining the high backlog, ensuring a high level of activity during the \u00a0
\n\t\t\t\t\tbudget period. Management assesses that NKT will be one of the key \u00a0
\n\t\t\t\t\tbeneficiaries of the global expansion in green technology over the world. \u00a0
\n\t\t\t\t\tThese will be the main drivers for the growth in Solutions from 2023 \u00a0
\n\t\t\t\t\tand onwards. The continued growth in renewable power generation is \u00a0
\n\t\t\t\t\tan important driver in the attractive outlook for the high-voltage market. \u00a0
\n\t\t\t\t\tProgress continues on several tenders across market segments and ge- \u00a0
\n\t\t\t\t\tographies, where NKT still views Europe as its largest market opportuni- \u00a0
\n\t\t\t\t\tty, but more projects are coming particularly in the US as well as in Asia. \u00a0
\n\t\t\t\t\tFollowing the awards in 2022, NKT still expects the value of high-voltage \u00a0
\n\t\t\t\t\tproject awards in relevant markets to stay at a high level for a long term. \u00a0
\n\t\t\t\t\tAssessing future awards to NKT is although by nature subject to uncer- \u00a0
\n\t\t\t\t\ttainty, and the value-in-use calculation of the Solution cash-generating \u00a0
\n\t\t\t\t\tunit is sensitive to changes in the actual share of projects awarded to \u00a0
\n\t\t\t\t\tNKT. However, the large backlog provides higher certainty regarding the \u00a0
\n\t\t\t\t\tfuture revenue and earnings. \u00a0
Service & Accessories \u00a0
\n\t\t\t\t\tBudget period \u00a0
\n\t\t\t\t\tTerminal period \u00a0
\n\t\t\t\t\t2022 \u00a0
\n\t\t\t\t\t2021 \u00a0
\n\t\t\t\t\t2022 \u00a0
\n\t\t\t\t\t2021 \u00a0
\n\t\t\t\t\tKey assumptions1 \u00a0
\n\t\t\t\t\tAverage revenue growth rate \u00a0
\n\t\t\t\t\t4.6% \u00a0
\n\t\t\t\t\t0.3% \u00a0
\n\t\t\t\t\t-
\n\t\t\t\t\t-
\n\t\t\t\t\tAverage EBITDA margin \u00a0
\n\t\t\t\t\t11.9% \u00a0
\n\t\t\t\t\t12.7% \u00a0
\n\t\t\t\t\t-
\n\t\t\t\t\t-
\n\t\t\t\t\tGrowth rate \u00a0
\n\t\t\t\t\t-
\n\t\t\t\t\t-
\n\t\t\t\t\t2.0% \u00a0
\n\t\t\t\t\t1.0% \u00a0
\n\t\t\t\t\tAverage working capital ratio \u00a0
\n\t\t\t\t\t13.2% \u00a0
\n\t\t\t\t\t11.3% \u00a0
\n\t\t\t\t\t-
\n\t\t\t\t\t-
\n\t\t\t\t\tDiscount rate after tax \u00a0
\n\t\t\t\t\t9.7% \u00a0
\n\t\t\t\t\t6.5% \u00a0
\n\t\t\t\t\t9.7% \u00a0
\n\t\t\t\t\t7.5% \u00a0
\n\t\t\t\t\tDiscount rate before tax \u00a0
\n\t\t\t\t\t13.1% \u00a0
\n\t\t\t\t\t8.8% \u00a0
\n\t\t\t\t\t13.1% \u00a0
\n\t\t\t\t\t10.1% \u00a0
\n\t\t\t\t\tSensitivity \u00a0
\n\t\t\t\t\tDiscount rate after tax \u00a0
\n\t\t\t\t\t21.4% \u00a0
\n\t\t\t\t\t25.5% \u00a0
\n\t\t\t\t\tGrowth rate \u00a0
\n\t\t\t\t\t-24.2% -50.0% \u00a0
\n\t\t\t\t\tChange in EBITDA \u00a0
\n\t\t\t\t\t-60.7% -71.1% \u00a0
The market for servicing power cables is gradually growing, and the \u00a0
\n\t\t\t\t\tcompetitive landscape among service providers is diverse, with different \u00a0
\n\t\t\t\t\tcompanies offering different solutions. Power cable failures are costly for \u00a0
\n\t\t\t\t\tboth on- and offshore operators, and if an incident does occur, power \u00a0
\n\t\t\t\t\tcable operation must be restored as fast as possible, hence the increas- \u00a0
\n\t\t\t\t\ting interest in service agreements. The customers increasingly demand \u00a0
\n\t\t\t\t\tservices that will enable them to improve power cable efficiency and \u00a0
\n\t\t\t\t\tsolutions that can help predict, prevent and mitigate power cable failures. \u00a0
\n\t\t\t\t\t2021 was a very positive year for Service, driven by an unusual high level \u00a0
\n\t\t\t\t\tof repair jobs. While not expected at the same level as 2021, the Service \u00a0
\n\t\t\t\t\tmarket is expected to see attractive growth in the years ahead, driven by \u00a0
\n\t\t\t\t\tthe installation of further power cables both off- and onshore in line with \u00a0
\n\t\t\t\t\tthe megatrends driving the power cable market. However, the market will \u00a0
\n\t\t\t\t\tfluctuate during this period depending on the number of large offshore \u00a0
\n\t\t\t\t\tcable repairs. \u00a0
Accessories deliver necessary components of power cable systems, \u00a0
\n\t\t\t\t\tand their market is therefore closely linked to that for medium- and \u00a0
\n\t\t\t\t\thigh-voltage power cables. The market is therefore expected to increase \u00a0
\n\t\t\t\t\tand NKT expects to reach even more markets over the coming years. As \u00a0
\n\t\t\t\t\twith power cables, competitive pressure for Accessories is greatest at \u00a0
\n\t\t\t\t\tthe lowest voltage levels due to the increasing complexity of accessories \u00a0
\n\t\t\t\t\tfor higher voltage application. \u00a0
NKT Photonics \u00a0
\n\t\t\t\t\tBudget period \u00a0
\n\t\t\t\t\tTerminal period \u00a0
\n\t\t\t\t\t2021 \u00a0
\n\t\t\t\t\t2021 \u00a0
\n\t\t\t\t\tKey assumptions1 \u00a0
\n\t\t\t\t\tAverage revenue growth rate \u00a0
\n\t\t\t\t\t10.6% \u00a0
\n\t\t\t\t\t-
\n\t\t\t\t\tAverage EBITDA margin \u00a0
\n\t\t\t\t\t19.0% \u00a0
\n\t\t\t\t\t-
\n\t\t\t\t\tGrowth rate \u00a0
\n\t\t\t\t\t-
\n\t\t\t\t\t2.0% \u00a0
\n\t\t\t\t\tAverage working capital ratio \u00a0
\n\t\t\t\t\t13.5% \u00a0
\n\t\t\t\t\t-
\n\t\t\t\t\tDiscount rate after tax \u00a0
\n\t\t\t\t\t7.7% \u00a0
\n\t\t\t\t\t8.7% \u00a0
\n\t\t\t\t\tDiscount rate before tax \u00a0
\n\t\t\t\t\t10.1% \u00a0
\n\t\t\t\t\t11.4% \u00a0
\n\t\t\t\t\tSensitivity \u00a0
\n\t\t\t\t\tDiscount rate after tax \u00a0
\n\t\t\t\t\t10.3% \u00a0
\n\t\t\t\t\tGrowth rate \u00a0
\n\t\t\t\t\t0.4% \u00a0
\n\t\t\t\t\tChange in EBITDA \u00a0
\n\t\t\t\t\t-9.0% \u00a0
In June 2022, NKT Photonics was transferred to assets held for sale. Con- \u00a0
\n\t\t\t\t\tsequently, no impairment test based on value-in-use has been performed \u00a0
\n\t\t\t\t\tin 2022. Reference is made to note 6.3 for further information of NKT \u00a0
\n\t\t\t\t\tPhotonics. In 2021, the impairment test for NKT Photonics resulted in a \u00a0
\n\t\t\t\t\theadroom of EUR 22m based on the key assumptions illustrated above. \u00a0
Sensitivity to changes in assumptions \u00a0
\n\t\t\t\t\tThe sensitivity analysis presented for each cash-generating unit in the ta- \u00a0
\n\t\t\t\t\tbles above, considers when a change in a given assumption will decrease \u00a0
\n\t\t\t\t\tthe value-in-use to the extend that the value-in-use equals the carrying \u00a0
\n\t\t\t\t\tamount. Changes in more assumptions at once is not considered. The \u00a0
\n\t\t\t\t\tgeneral assumption, that NKT will be awarded its fair share of future \u00a0
\n\t\t\t\t\tprojects, is not considered separately. \u00a0
\n\t\t\t\t\tIt is Management\u2019s assessment that likely changes in the key assumption \u00a0
\n\t\t\t\t\twill not cause the carrying amount of goodwill to exceed the recoverable \u00a0
\n\t\t\t\t\tamount. However, to show the headroom between the carrying amount \u00a0
\n\t\t\t\t\tand the recoverable amounts, a sensitivity analysis has been included, \u00a0
\n\t\t\t\t\twith focus on discount rate, growth rate and EBITDA in terminal period. \u00a0
3.4 Provisions and pension liabilities \u00a0
\n\t\t\t\t\tWarranty Restructuring \u00a0
\n\t\t\t\t\tOther \u00a0
\n\t\t\t\t\tPension \u00a0
\n\t\t\t\t\tAmounts in EURm \u00a0
\n\t\t\t\t\tprovision \u00a0
\n\t\t\t\t\tprovision \u00a0
\n\t\t\t\t\tprovisions \u00a0
\n\t\t\t\t\tliabilities, net \u00a0
\n\t\t\t\t\tTotal \u00a0
\n\t\t\t\t\tProvisions, 1 January 2022 \u00a0
\n\t\t\t\t\t6.9 \u00a0
\n\t\t\t\t\t14.7 \u00a0
\n\t\t\t\t\t50.4 \u00a0
\n\t\t\t\t\t53.8 \u00a0
\n\t\t\t\t\t125.8 \u00a0
\n\t\t\t\t\tAdditions in the year \u00a0
\n\t\t\t\t\t0.5 \u00a0
\n\t\t\t\t\t0.1 \u00a0
\n\t\t\t\t\t14.2 \u00a0
\n\t\t\t\t\t1.1 \u00a0
\n\t\t\t\t\t15.9 \u00a0
\n\t\t\t\t\tUsed during the year \u00a0
\n\t\t\t\t\t-0.1 \u00a0
\n\t\t\t\t\t-5.3 \u00a0
\n\t\t\t\t\t-11.2 \u00a0
\n\t\t\t\t\t-1.9 \u00a0
\n\t\t\t\t\t-18.5 \u00a0
\n\t\t\t\t\tReversed during the year \u00a0
\n\t\t\t\t\t-4.9 \u00a0
\n\t\t\t\t\t-0.3 \u00a0
\n\t\t\t\t\t-27.7 \u00a0
\n\t\t\t\t\t0.0 \u00a0
\n\t\t\t\t\t-32.9 \u00a0
\n\t\t\t\t\tTransfer to assets held for sale \u00a0
\n\t\t\t\t\t-1.1 \u00a0
\n\t\t\t\t\t0.0 \u00a0
\n\t\t\t\t\t0.0 \u00a0
\n\t\t\t\t\t0.0 \u00a0
\n\t\t\t\t\t-1.1 \u00a0
\n\t\t\t\t\tExchange rate adjustment \u00a0
\n\t\t\t\t\t-0.4 \u00a0
\n\t\t\t\t\t0.0 \u00a0
\n\t\t\t\t\t-1.7 \u00a0
\n\t\t\t\t\t0.0 \u00a0
\n\t\t\t\t\t-2.1 \u00a0
\n\t\t\t\t\tActuarial gains/losses on defined benefit pension plans \u00a0
\n\t\t\t\t\t0.0 \u00a0
\n\t\t\t\t\t0.0 \u00a0
\n\t\t\t\t\t0.0 \u00a0
\n\t\t\t\t\t-11.7 \u00a0
\n\t\t\t\t\t-11.7 \u00a0
\n\t\t\t\t\tProvisions, 31 December 2022 \u00a0
\n\t\t\t\t\t0.9 \u00a0
\n\t\t\t\t\t9.2 \u00a0
\n\t\t\t\t\t24.0 \u00a0
\n\t\t\t\t\t41.3 \u00a0
\n\t\t\t\t\t75.4 \u00a0
\n\t\t\t\t\tProvisions are recognized in the balance sheet as: \u00a0
\n\t\t\t\t\tNon-current liabilities \u00a0
\n\t\t\t\t\t0.0 \u00a0
\n\t\t\t\t\t4.4 \u00a0
\n\t\t\t\t\t7.0 \u00a0
\n\t\t\t\t\t41.3 \u00a0
\n\t\t\t\t\t52.7 \u00a0
\n\t\t\t\t\tCurrent liabilities \u00a0
\n\t\t\t\t\t0.9 \u00a0
\n\t\t\t\t\t4.8 \u00a0
\n\t\t\t\t\t17.0 \u00a0
\n\t\t\t\t\t0.0 \u00a0
\n\t\t\t\t\t22.7 \u00a0
\n\t\t\t\t\t0.9 \u00a0
\n\t\t\t\t\t9.2 \u00a0
\n\t\t\t\t\t24.0 \u00a0
\n\t\t\t\t\t41.3 \u00a0
\n\t\t\t\t\t75.4 \u00a0
Actuarial gains related to the pension liabilities are recognized in other \u00a0
\n\t\t\t\t\tcomprehensive income. The pension liability also include other long term \u00a0
\n\t\t\t\t\tbenefits relating to anniversary bonuses, etc., amounting to EUR 2.0m \u00a0
\n\t\t\t\t\t(EUR 1.9m in 2021). At the end of 2022, there were no plan assets to be \u00a0
\n\t\t\t\t\toffset in the present value of the liability. \u00a0
\n\t\t\t\t\tActuarial assumptions applied \u00a0
\n\t\t\t\t\t2022 \u00a0
\n\t\t\t\t\t2021 \u00a0
\n\t\t\t\t\tDiscount rate \u00a0
\n\t\t\t\t\t3.4% \u00a0
\n\t\t\t\t\t1.1% \u00a0
\n\t\t\t\t\tFuture salary increases \u00a0
\n\t\t\t\t\t3.0% \u00a0
\n\t\t\t\t\t3.0% \u00a0
\n\t\t\t\t\tFuture pension increases \u00a0
\n\t\t\t\t\t2.2% \u00a0
\n\t\t\t\t\t2.0% \u00a0
Sensitivity analysis \u00a0
\n\t\t\t\t\tThe table below shows the sensitivity of the liability to changes in key \u00a0
\n\t\t\t\t\tassumptions for the measurement of the pension liabilities, net. The anal- \u00a0
\n\t\t\t\t\tysis is based on the changes in the applied key assumptions considered \u00a0
\n\t\t\t\t\treasonably likely provided the other parameters in the calculation are \u00a0
\n\t\t\t\t\tunchanged. \u00a0
\n\t\t\t\t\tAmounts in EURm \u00a0
\n\t\t\t\t\t2022 \u00a0
\n\t\t\t\t\t2021 \u00a0
\n\t\t\t\t\t+0.5%-point in discount rate \u00a0
\n\t\t\t\t\t-2.2 \u00a0
\n\t\t\t\t\t-3.5 \u00a0
\n\t\t\t\t\t-0.5%-point in discount rate \u00a0
\n\t\t\t\t\t2.5 \u00a0
\n\t\t\t\t\t3.9 \u00a0
Accounting policy \u00a0
\n\t\t\t\t\tThe provisions recognized are Management\u2019s best estimate of the \u00a0
\n\t\t\t\t\tamount required to settle the obligation. Warranty provisions are \u00a0
\n\t\t\t\t\trecognized in connection with the sale of goods and services based on \u00a0
\n\t\t\t\t\tthe level of warranty expenses incurred in previous years. Contingent \u00a0
\n\t\t\t\t\twarranty commitments are recognized in connection with business \u00a0
\n\t\t\t\t\tcombinations. Restructuring costs are recognized under liabilities when \u00a0
\n\t\t\t\t\ta detailed, formal restructuring plan is announced to the affected parties \u00a0
\n\t\t\t\t\ton or before the balance sheet date. A provision for onerous contracts is \u00a0
\n\t\t\t\t\trecognized when the expected benefits to be derived by the Group from \u00a0
\n\t\t\t\t\ta contract are lower than the Group\u2019s unavoidable costs for meeting \u00a0
\n\t\t\t\t\tits contractual obligations. Provisions for dismantling are measured at \u00a0
\n\t\t\t\t\tthe present value of the expected cost at the balance sheet date. The \u00a0
\n\t\t\t\t\tpresent value of the costs is included in the cost of the relevant tangible \u00a0
\n\t\t\t\t\tassets and depreciated accordingly. The addition of interests on provi- \u00a0
\n\t\t\t\t\tsions are recognized in the income statement under financial expenses. \u00a0
\n\t\t\t\t\tFor the Group\u2019s defined benefit plans, an annual actuarial calculation (the \u00a0
\n\t\t\t\t\tProjected Unit Credit Method) of the present value of future benefits pay- \u00a0
\n\t\t\t\t\table under the plan is provided. The present value is determined based \u00a0
\n\t\t\t\t\ton assumptions about the future development in variables such as salary \u00a0
\n\t\t\t\t\tlevels, interest rates, inflation and mortality. The present value is deter- \u00a0
\n\t\t\t\t\tmined only for benefits earned by employees from their employment \u00a0
\n\t\t\t\t\twithin the Group. The actuarial present value less the fair value of any \u00a0
\n\t\t\t\t\tplan assets is recognized in the balance sheet under pension liabilities. \u00a0
\n\t\t\t\t\tPension expenses and other long-term employee benefits are recog- \u00a0
\n\t\t\t\t\tnized in the income statement based on actuarial estimates and financial \u00a0
\n\t\t\t\t\texpectations at the start of the year. Actuarial gains or losses are recog- \u00a0
\n\t\t\t\t\tnized in other comprehensive income. \u00a0
\n\t\t\t\t\tIf a pension plan constitutes a net asset, the asset is only recognized if it \u00a0
\n\t\t\t\t\toffsets cumulative actuarial losses or future refunds from the plan, or if it \u00a0
\n\t\t\t\t\twill lead to reduced future payments to the plan. \u00a0
Section 4 \u2013 Working capital \u00a0
NKT Group\u2019s working capital \u00a0
\n\t\t\t\t\trepresents the assets and liabilities \u00a0
\n\t\t\t\t\tnecessary to support the day-to- \u00a0
\n\t\t\t\t\tday operations. Working capital is \u00a0
\n\t\t\t\t\tdefined as current assets less current \u00a0
\n\t\t\t\t\tliabilities, excluding interest-bearing \u00a0
\n\t\t\t\t\titems and provisions. \u00a0
4.1 Changes in working capital in cash flow \u00a0
\n\t\t\t\t\tAmounts in EURm \u00a0
\n\t\t\t\t\t2022 \u00a0
\n\t\t\t\t\t2021 \u00a0
\n\t\t\t\t\tInventory \u00a0
\n\t\t\t\t\t-62.0 \u00a0
\n\t\t\t\t\t-40.7 \u00a0
\n\t\t\t\t\tTrade receivables and other receivables \u00a0
\n\t\t\t\t\t-71.2 \u00a0
\n\t\t\t\t\t-69.3 \u00a0
\n\t\t\t\t\tContract assets and contract liabilities \u00a0
\n\t\t\t\t\t225.2 \u00a0
\n\t\t\t\t\t57.0 \u00a0
\n\t\t\t\t\tTrade payables and other liabilities \u00a0
\n\t\t\t\t\t93.1 \u00a0
\n\t\t\t\t\t99.6 \u00a0
\n\t\t\t\t\tEffect of discontinued operations \u00a0
\n\t\t\t\t\t0.0 \u00a0
\n\t\t\t\t\t4.1 \u00a0
\n\t\t\t\t\tTotal \u00a0
\n\t\t\t\t\t185.1 \u00a0
\n\t\t\t\t\t50.7 \u00a0
\n\t\t\t\t\tThe numbers in the table above cannot be derived directly from the \u00a0
\n\t\t\t\t\tbalance sheet. \u00a0
Amounts in EURm \u00a0
\n\t\t\t\t\t2022 \u00a0
\n\t\t\t\t\t2021 \u00a0
\n\t\t\t\t\tReconciliation to change in working capital in cash flow \u00a0
\n\t\t\t\t\tWorking capital 1 January \u00a0
\n\t\t\t\t\t-59.6 \u00a0
\n\t\t\t\t\t-137.1 \u00a0
\n\t\t\t\t\tReclassification of discontinued operations 1 January \u00a0
\n\t\t\t\t\t-33.6 \u00a0
\n\t\t\t\t\t0
\n\t\t\t\t\tWorking capital 31 December \u00a0
\n\t\t\t\t\t-303.0 \u00a0
\n\t\t\t\t\t-59.6 \u00a0
\n\t\t\t\t\tChange in working capital based on balance sheet \u00a0
\n\t\t\t\t\t-209.8 \u00a0
\n\t\t\t\t\t77.5 \u00a0
\n\t\t\t\t\tEffect of unrealized hedges reported on Equity \u00a0
\n\t\t\t\t\t18.7 \u00a0
\n\t\t\t\t\t-127.3 \u00a0
\n\t\t\t\t\tEffect of discontinued operations \u00a0
\n\t\t\t\t\t0.0 \u00a0
\n\t\t\t\t\t4.1 \u00a0
\n\t\t\t\t\tEffect of changes in current tax \u00a0
\n\t\t\t\t\t4.6 \u00a0
\n\t\t\t\t\t4.2 \u00a0
\n\t\t\t\t\tEffect of changes in exchange rates, etc. \u00a0
\n\t\t\t\t\t1.4 \u00a0
\n\t\t\t\t\t-1.0 \u00a0
\n\t\t\t\t\tChange in working capital based on cash flow statement \u00a0
\n\t\t\t\t\t-185.1 \u00a0
\n\t\t\t\t\t-50.7 \u00a0
4.2 Inventories \u00a0
\n\t\t\t\t\tAmounts in EURm \u00a0
\n\t\t\t\t\t2022 \u00a0
\n\t\t\t\t\t2021 \u00a0
\n\t\t\t\t\tRaw materials, consumables \u00a0
\n\t\t\t\t\tand goods for resale \u00a0
\n\t\t\t\t\t154.5 \u00a0
\n\t\t\t\t\t127.9 \u00a0
\n\t\t\t\t\tWork in progress \u00a0
\n\t\t\t\t\t73.2 \u00a0
\n\t\t\t\t\t69.7 \u00a0
\n\t\t\t\t\tFinished goods \u00a0
\n\t\t\t\t\t107.2 \u00a0
\n\t\t\t\t\t89.8 \u00a0
\n\t\t\t\t\tInventories, 31 December \u00a0
\n\t\t\t\t\t334.9 \u00a0
\n\t\t\t\t\t287.4 \u00a0
\n\t\t\t\t\tWrite-down of inventories, 1 January \u00a0
\n\t\t\t\t\t17.0 \u00a0
\n\t\t\t\t\t21.8 \u00a0
\n\t\t\t\t\tWrite-down of inventories for the year \u00a0
\n\t\t\t\t\t1.0 \u00a0
\n\t\t\t\t\t3.0 \u00a0
\n\t\t\t\t\tDisposals from sales \u00a0
\n\t\t\t\t\t0.0 \u00a0
\n\t\t\t\t\t-1.6 \u00a0
\n\t\t\t\t\tScrapping \u00a0
\n\t\t\t\t\t-7.1 \u00a0
\n\t\t\t\t\t-6.2 \u00a0
\n\t\t\t\t\tTransfer to assets held for sale \u00a0
\n\t\t\t\t\t-3.5 \u00a0
\n\t\t\t\t\t0
\n\t\t\t\t\tWrite-down of inventories, 31 December \u00a0
\n\t\t\t\t\t7.4 \u00a0
\n\t\t\t\t\t17.0 \u00a0
Accounting policy \u00a0
\n\t\t\t\t\tInventories are measured at cost in accordance with \u00a0
\n\t\t\t\t\tthe FIFO method or at a weighted average. If the net \u00a0
\n\t\t\t\t\trealizable value is lower than cost, inventories are \u00a0
\n\t\t\t\t\twritten down to this lower value. \u00a0
\n\t\t\t\t\tRaw materials, consumables and goods for resale \u00a0
\n\t\t\t\t\tare measured at cost, comprising purchase price \u00a0
\n\t\t\t\t\tplus delivery costs. \u00a0
\n\t\t\t\t\tFinished goods and work in progress are measured \u00a0
\n\t\t\t\t\tat cost, comprising direct costs and production \u00a0
\n\t\t\t\t\toverheads. \u00a0
4.3 Receivables \u00a0
\n\t\t\t\t\tIn NKT Group, receivables comprise trade and other receivables from ex- \u00a0
\n\t\t\t\t\tternal companies, other receivables from derivative financial instruments \u00a0
\n\t\t\t\t\tand prepayments. Receivables are measured at amortized cost, which in \u00a0
\n\t\t\t\t\tall material respects corresponds to fair value and nominal value. \u00a0
\n\t\t\t\t\tAmounts in EURm \u00a0
\n\t\t\t\t\t2022 \u00a0
\n\t\t\t\t\t2021 \u00a0
\n\t\t\t\t\tTrade receivables \u00a0
\n\t\t\t\t\t208.7 \u00a0
\n\t\t\t\t\t212.6 \u00a0
\n\t\t\t\t\tOther receivables incl. derivatives \u00a0
\n\t\t\t\t\t283.1 \u00a0
\n\t\t\t\t\t266.7 \u00a0
\n\t\t\t\t\tPrepayments \u00a0
\n\t\t\t\t\t30.7 \u00a0
\n\t\t\t\t\t49.6 \u00a0
\n\t\t\t\t\tReceivables \u00a0
\n\t\t\t\t\t522.5 \u00a0
\n\t\t\t\t\t528.9 \u00a0
\n\t\t\t\t\tOf the receivables, EUR 0.1m are expected to be received later than 12 \u00a0
\n\t\t\t\t\tmonths (EUR 1.3m in 2021). \u00a0
Impairment on trade receivables amounted to 1% of trade receivables \u00a0
\n\t\t\t\t\tunchanged from 1% in 2021. For further information on credit risks, \u00a0
\n\t\t\t\t\tplease see Section 5.6. \u00a0
Development in provision for bad debt \u00a0
\n\t\t\t\t\tAmounts in EURm \u00a0
\n\t\t\t\t\t2022 \u00a0
\n\t\t\t\t\t2021 \u00a0
\n\t\t\t\t\tTrade receivables, gross \u00a0
\n\t\t\t\t\t211.4 \u00a0
\n\t\t\t\t\t215.8 \u00a0
\n\t\t\t\t\tProvision for bad debt \u00a0
\n\t\t\t\t\tProvision for bad debt, 1 January \u00a0
\n\t\t\t\t\t3.2 \u00a0
\n\t\t\t\t\t3.8 \u00a0
\n\t\t\t\t\tAdditions during the year \u00a0
\n\t\t\t\t\t0.6 \u00a0
\n\t\t\t\t\t1.4 \u00a0
\n\t\t\t\t\tReversed during the year \u00a0
\n\t\t\t\t\t-0.6 \u00a0
\n\t\t\t\t\t-1.2 \u00a0
\n\t\t\t\t\tUsed during the year \u00a0
\n\t\t\t\t\t-0.3 \u00a0
\n\t\t\t\t\t-0.9 \u00a0
\n\t\t\t\t\tTransferred to assets held for sale \u00a0
\n\t\t\t\t\t-0.2 \u00a0
\n\t\t\t\t\t0.0 \u00a0
\n\t\t\t\t\tExchange rate adjustments \u00a0
\n\t\t\t\t\t0.0 \u00a0
\n\t\t\t\t\t0.1 \u00a0
\n\t\t\t\t\tProvision for bad debt, 31 December \u00a0
\n\t\t\t\t\t2.7 \u00a0
\n\t\t\t\t\t3.2 \u00a0
\n\t\t\t\t\tTrade receivables, net \u00a0
\n\t\t\t\t\t208.7 \u00a0
\n\t\t\t\t\t212.6 \u00a0
In 2022, credit losses recognized in the income statement count for \u00a0
\n\t\t\t\t\t0.0% of total revenue (0.1% of total revenue in 2021). The expected loss \u00a0
\n\t\t\t\t\trates are updated at every reporting date. \u00a0
Accounting policy \u00a0
\n\t\t\t\t\tTrade receivables are at initial recognition measured at their transaction \u00a0
\n\t\t\t\t\tprice less allowance for expected credit losses over the lifetime and are \u00a0
\n\t\t\t\t\tsubsequently measured at amortized cost adjusted for changes to the \u00a0
\n\t\t\t\t\texpected credit losses. Expected credit losses at initial recognition are \u00a0
\n\t\t\t\t\tcalculated for portfolios of receivables that share credit risk characteris- \u00a0
\n\t\t\t\t\ttics and is based on historical experience and, when applicable, adjusted \u00a0
\n\t\t\t\t\tfor factors that are specific to the debtors and general economic con- \u00a0
\n\t\t\t\t\tditions. The portfolios are primarily based on the debtor\u2019s domicile and \u00a0
\n\t\t\t\t\tcredit rating in accordance with NKT Groups credit risk management \u00a0
\n\t\t\t\t\tpolicy, see Section 5.6. \u00a0
\n\t\t\t\t\tWhen there is an indication of impairment, expected credit losses are \u00a0
\n\t\t\t\t\tcalculated at individual level and when there are no reasonable expecta- \u00a0
\n\t\t\t\t\ttions of recovering, the receivable is written off in part or entirely. \u00a0
\n\t\t\t\t\tThe allowances for expected credit losses and write-offs for trade receiv- \u00a0
\n\t\t\t\t\tables are recognized in the income statement as Other costs. \u00a0
4.4 Contract assets and liabilities \u00a0
\n\t\t\t\t\tContract assets comprise the sales value of work performed on con- \u00a0
\n\t\t\t\t\tstruction contracts, where NKT Group does not yet possess an uncon- \u00a0
\n\t\t\t\t\tditional right to payment, as the work performed has not been approved \u00a0
\n\t\t\t\t\tby the customer. Contract liabilities comprise contractual unconditional \u00a0
\n\t\t\t\t\tinvoicing for work not yet performed. \u00a0
\n\t\t\t\t\tAmounts in EURm \u00a0
\n\t\t\t\t\t2022 \u00a0
\n\t\t\t\t\t2021 \u00a0
\n\t\t\t\t\tConstruction contracts \u00a0
\n\t\t\t\t\tContract value of work in progress \u00a0
\n\t\t\t\t\t1,614.3 \u00a0
\n\t\t\t\t\t1,859.9 \u00a0
\n\t\t\t\t\tProgress billing \u00a0
\n\t\t\t\t\t-2,155.4 \u00a0
\n\t\t\t\t\t-2,156.9 \u00a0
\n\t\t\t\t\t-541.1 \u00a0
\n\t\t\t\t\t-297.0 \u00a0
\n\t\t\t\t\tRecognized as contract assets \u00a0
\n\t\t\t\t\t98.2 \u00a0
\n\t\t\t\t\t97.3 \u00a0
\n\t\t\t\t\tRecognized as contract liabilities \u00a0
\n\t\t\t\t\t-639.3 \u00a0
\n\t\t\t\t\t-394.3 \u00a0
\n\t\t\t\t\t-541.1 \u00a0
\n\t\t\t\t\t-297.0 \u00a0
\n\t\t\t\t\tConstruction contracts \u00a0
\n\t\t\t\t\t639.3 \u00a0
\n\t\t\t\t\t394.3 \u00a0
\n\t\t\t\t\tPrepayments for construction contracts \u00a0
\n\t\t\t\t\t19.9 \u00a0
\n\t\t\t\t\t27.0 \u00a0
\n\t\t\t\t\tOther prepayments from customers \u00a0
\n\t\t\t\t\t18.4 \u00a0
\n\t\t\t\t\t38.0 \u00a0
\n\t\t\t\t\tTotal contract liabilities \u00a0
\n\t\t\t\t\t677.6 \u00a0
\n\t\t\t\t\t459.3 \u00a0
Amounts in EURm \u00a0
\n\t\t\t\t\t2022 \u00a0
\n\t\t\t\t\t2021 \u00a0
\n\t\t\t\t\tContract assets, 1 January \u00a0
\n\t\t\t\t\t97.3 \u00a0
\n\t\t\t\t\t21.3 \u00a0
\n\t\t\t\t\tAddition from revenue recognized \u00a0
\n\t\t\t\t\t40.1 \u00a0
\n\t\t\t\t\t85.6 \u00a0
\n\t\t\t\t\tTransferred to receivables \u00a0
\n\t\t\t\t\t-30.5 \u00a0
\n\t\t\t\t\t-13.0 \u00a0
\n\t\t\t\t\tTransferred to assets held for sale \u00a0
\n\t\t\t\t\t-2.1 \u00a0
\n\t\t\t\t\t0.0 \u00a0
\n\t\t\t\t\tExchange rate adjustments \u00a0
\n\t\t\t\t\t-6.6 \u00a0
\n\t\t\t\t\t3.4 \u00a0
\n\t\t\t\t\tContract assets, 31 December \u00a0
\n\t\t\t\t\t98.2 \u00a0
\n\t\t\t\t\t97.3 \u00a0
\n\t\t\t\t\tContract liabilities, 1 January \u00a0
\n\t\t\t\t\t459.3 \u00a0
\n\t\t\t\t\t296.5 \u00a0
\n\t\t\t\t\tDecrease from revenue recognized \u00a0
\n\t\t\t\t\t-331.7 \u00a0
\n\t\t\t\t\t-179.2 \u00a0
\n\t\t\t\t\tPrepayments received \u00a0
\n\t\t\t\t\t562.3 \u00a0
\n\t\t\t\t\t344.6 \u00a0
\n\t\t\t\t\tTransferred to assets held for sale \u00a0
\n\t\t\t\t\t-0.5 \u00a0
\n\t\t\t\t\t0.0 \u00a0
\n\t\t\t\t\tExchange rate adjustments \u00a0
\n\t\t\t\t\t-11.8 \u00a0
\n\t\t\t\t\t-2.6 \u00a0
\n\t\t\t\t\tContract liabilities, 31 December \u00a0
\n\t\t\t\t\t677.6 \u00a0
\n\t\t\t\t\t459.3 \u00a0
\n\t\t\t\t\tExpected recognition of revenue: \u00a0
\n\t\t\t\t\tWithin 1 year \u00a0
\n\t\t\t\t\t468.4 \u00a0
\n\t\t\t\t\t281.0 \u00a0
\n\t\t\t\t\tWithin 1-5 years \u00a0
\n\t\t\t\t\t209.2 \u00a0
\n\t\t\t\t\t178.3 \u00a0
\n\t\t\t\t\tAfter 5 years \u00a0
\n\t\t\t\t\t0.0 \u00a0
\n\t\t\t\t\t0.0 \u00a0
\n\t\t\t\t\t677.6 \u00a0
\n\t\t\t\t\t459.3 \u00a0
Significant estimates \u00a0
\n\t\t\t\t\tConstruction contracts are measured based on Management\u2019s judge- \u00a0
\n\t\t\t\t\tment in terms of stage-of-completion and estimated profit on a project- \u00a0
\n\t\t\t\t\tby-project approach to estimate the expected selling prices which affect \u00a0
\n\t\t\t\t\tthe value recognized in the balance sheet. The estimate includes a risk \u00a0
provision, which is based on an assessment of the specific risk that each \u00a0
\n\t\t\t\t\tproject is exposed to. Therefore, the recognition of revenue and related \u00a0
\n\t\t\t\t\tcontract assets and liabilities are subject to uncertainty. Management\u2019s \u00a0
\n\t\t\t\t\testimates are based on the most likely outcomes of the projects. \u00a0
Accounting policy \u00a0
\n\t\t\t\t\tConstruction contracts \u00a0
\n\t\t\t\t\tConstruction contracts are measured at the selling price of the work \u00a0
\n\t\t\t\t\tperformed less progress billings and anticipated losses. If the value of \u00a0
\n\t\t\t\t\twork performed exceeds progress billings, the excess is recognized as \u00a0
\n\t\t\t\t\tcontract assets. and if progress billings exceed the value of work per- \u00a0
\n\t\t\t\t\tformed, the deficit is recognized as contract liabilities. Prepayments from \u00a0
\n\t\t\t\t\tcustomers are recognized under contract liabilities. \u00a0
\n\t\t\t\t\tConstruction contracts are characterized by a high degree of customiza- \u00a0
\n\t\t\t\t\ttion in the design of the cables produced. It is furthermore a requirement \u00a0
\n\t\t\t\t\tthat before commencement of the work, a binding contract is signed that \u00a0
\n\t\t\t\t\twill result in a fine or compensation in case of subsequent cancellation. \u00a0
\n\t\t\t\t\tThe contract value is measured according to the stage-of-completion, \u00a0
\n\t\t\t\t\twhich is determined on the basis of an assessment of the work per- \u00a0
\n\t\t\t\t\tformed, calculated as the ratio of expenses incurred compared to total \u00a0
\n\t\t\t\t\tanticipated expenses on the contract concerned. When it is probable \u00a0
\n\t\t\t\t\tthat the total contract costs will exceed the total contract revenue, the \u00a0
\n\t\t\t\t\tanticipated loss on the contract is immediately recognized as a provision. \u00a0
\n\t\t\t\t\tWhen income and expenses on a construction contract cannot be \u00a0
\n\t\t\t\t\tdetermined reliably, the contract value is measured as the costs incurred \u00a0
\n\t\t\t\t\twhich are likely to be recoverable. \u00a0
Section 5 \u2013 Capital structure and financial risk management \u00a0
NKT\u2019s Capital structure targets \u00a0
\n\t\t\t\t\tare related to solvency (ratio of \u00a0
\n\t\t\t\t\tminimum 30%) and operational \u00a0
\n\t\t\t\t\tEBITDA leverage (ratio up to 1.0x). \u00a0
\n\t\t\t\t\tFinancial risk management mainly \u00a0
\n\t\t\t\t\trelates to managing the risks related \u00a0
\n\t\t\t\t\tto currency, commodities and \u00a0
\n\t\t\t\t\tinterest rate risks relating to the \u00a0
\n\t\t\t\t\tfinancing. \u00a0
5.1 Share capital \u00a0
\n\t\t\t\t\tNKT A/S\u2019 share capital consists of shares with a nominal value of DKK 20 each. No shares \u00a0
\n\t\t\t\t\tcarry special rights. NKT A/S\u2019 Articles of Association specify no limits in respect of owner- \u00a0
\n\t\t\t\t\tship or voting right, and Group Management is unaware of any agreements in this regard. \u00a0
\n\t\t\t\t\tDistribution of dividend to shareholders of NKT A/S has no tax consequences for the company. \u00a0
\n\t\t\t\t\tAs per 31 December 2022 share capital comprised 42,976,036 shares of nominal value \u00a0
\n\t\t\t\t\tof DKK 20 per share. Share capital has been unchanged in 2022 and 2021. During 2022, \u00a0
\n\t\t\t\t\t75,000 treasury shares were purchased of which 16,055 are held at 31 December 2022. \u00a0
Mandates issued by the shareholders at the General Meeting \u00a0
\n\t\t\t\t\tin relation to the Group\u2019s capital structure: \u00a0
\n\t\t\t\t\t1. The share capital may, by resolution of the Board of Directors, be increased by issue of \u00a0
\n\t\t\t\t\tshares to a maximum nominal amount of DKK 256m in the period until 30 April 2025. The \u00a0
\n\t\t\t\t\tmandate was granted on the Annual General Meeting in June 2020, and consequently \u00a0
\n\t\t\t\t\tsubsequent the first capital increase in 2020. With the second increase in December \u00a0
\n\t\t\t\t\t2020 of DKK 215m, the remaining amount of the authorization is DKK 41,119,820. \u00a0
2. For the period until 31 March 2026 the Board of Directors is authorized to arrange for ac- \u00a0
\n\t\t\t\t\tquisition of the Company\u2019s own shares up to a nominal value of 10% of the share capital. \u00a0
\n\t\t\t\t\tThe purchase price for such shares may not deviate more than 10 per cent from the price \u00a0
\n\t\t\t\t\tquoted on Nasdaq Copenhagen at the time of acquisition. The price quoted at the time of \u00a0
\n\t\t\t\t\tacquisition shall mean Nasdaq Copenhagen closing price - all transactions at 5 p.m. \u00a0
3. In the period until 30 April 2025 loans may be raised against bonds or debt instruments in \u00a0
\n\t\t\t\t\tone of several transactions with a right for the lender to convert this claim to shares, each \u00a0
\n\t\t\t\t\tof a nominal value of DKK 20, up to a maximum nominal amount of DKK 128m (6.4 mil- \u00a0
\n\t\t\t\t\tlion new shares). This mandate is equally capped to DKK 41,119,820 due to the capital \u00a0
\n\t\t\t\t\tincreases in 2020. \u00a0
5.2 Earnings per share \u00a0
\n\t\t\t\t\tAmounts in EURm \u00a0
\n\t\t\t\t\t2022 \u00a0
\n\t\t\t\t\t2021 \u00a0
\n\t\t\t\t\tProfit attributable to equity holders \u00a0
\n\t\t\t\t\t53.8 \u00a0
\n\t\t\t\t\t-4.0 \u00a0
\n\t\t\t\t\tWeighted average number of ordinary \u00a0
\n\t\t\t\t\tshares adjusted for the effect of dilution \u00a0
\n\t\t\t\t\t43,094,255 \u00a0
\n\t\t\t\t\t43,090,596 \u00a0
\n\t\t\t\t\tBasic earnings - continuing operations, \u00a0
\n\t\t\t\t\tEUR, per share (EPS) \u00a0
\n\t\t\t\t\t1.1 \u00a0
\n\t\t\t\t\t0.1 \u00a0
\n\t\t\t\t\tDiluted earnings - continuing operations, \u00a0
\n\t\t\t\t\tEUR, per share (EPS-D) \u00a0
\n\t\t\t\t\t1.1 \u00a0
\n\t\t\t\t\t0.1 \u00a0
\n\t\t\t\t\tBasic earnings per share, EUR \u00a0
\n\t\t\t\t\t1.3 \u00a0
\n\t\t\t\t\t-0.1 \u00a0
\n\t\t\t\t\tDiluted earnings per share, EUR \u00a0
\n\t\t\t\t\t1.2 \u00a0
\n\t\t\t\t\t-0.1 \u00a0
\n\t\t\t\t\tThere has been no transactions between the balance sheet date and the \u00a0
\n\t\t\t\t\tdate of publication of this Annual Report, that have significantly changed \u00a0
\n\t\t\t\t\tthe number of shares or potential shares in NKT A/S. \u00a0
Accounting policy \u00a0
\n\t\t\t\t\tDividend is recognized as a liability at the date of adoption at the Annual General Meeting \u00a0
\n\t\t\t\t\t(declaration date). Proposed dividend payments for the year are disclosed as a separate \u00a0
\n\t\t\t\t\titem under equity. Interim dividend is recognized as a liability at the date when the decision \u00a0
\n\t\t\t\t\tto pay such dividend is made. \u00a0
Acquisition costs, consideration received, and dividends relating to treasury shares, are \u00a0
\n\t\t\t\t\trecognized directly in retained comprehensive income in equity. \u00a0
5.3 Hybrid capital \u00a0
\n\t\t\t\t\tFor 2022, hybrid capital comprise issued bonds from September 2022 of \u00a0
\n\t\t\t\t\tEUR 150m. For 2021, hybrid capital comprose issued bonds from Sep- \u00a0
\n\t\t\t\t\ttember 2018 of EUR 150m. In 2022, the
hybrid capital from September \u00a0
\n\t\t\t\t\t2018 was called and settled and a new hybrid bond was issued. \u00a0
\n\t\t\t\t\tThe issued hybrid capital in both 2022 and 2021 have been accounted \u00a0
\n\t\t\t\t\tfor as a hybrid capital reserve in equity. The classification is based on the \u00a0
\n\t\t\t\t\tspecial characteristics of the hybrid bond, where the bondholders are \u00a0
\n\t\t\t\t\tsubordinate to other creditors, and NKT A/S may defer and ultimately \u00a0
\n\t\t\t\t\tdecide not to pay the coupon. Any deferred coupons outstanding in \u00a0
\n\t\t\t\t\t3022 will be cancelled. However, deferred coupon payments become \u00a0
\n\t\t\t\t\tpayable if NKT A/S decides to pay dividends to shareholders. Coupon \u00a0
\n\t\t\t\t\tpayments are recognized in equity. For further details on the hybrid \u00a0
\n\t\t\t\t\tcapital for 2022 and 2021 please see table below. \u00a0
\n\t\t\t\t\tAs the principal of the securities ultimately falls due in 3022 (3018 in \u00a0
\n\t\t\t\t\t2021), its discounted fair value is zero due to the terms of the securities. \u00a0
\n\t\t\t\t\tTherefore, a liability of zero has been recognized in the balance sheet, \u00a0
\n\t\t\t\t\tand the full amount of the proceeds have been recognized as equity. \u00a0
\n\t\t\t\t\tCoupon payments are recognized in the statement of cash flows in the \u00a0
\n\t\t\t\t\tsame way as dividend payments within financing activities. \u00a0
Hybrid bonds \u00a0
\n\t\t\t\t\t2022 \u00a0
\n\t\t\t\t\t2021 \u00a0
\n\t\t\t\t\tNominal value of hybrid capital \u00a0
\n\t\t\t\t\tEUR 150.0m \u00a0
\n\t\t\t\t\tEUR 150.0m \u00a0
\n\t\t\t\t\tClassification in financial statement \u00a0
\n\t\t\t\t\tEquity \u00a0
\n\t\t\t\t\tEquity \u00a0
\n\t\t\t\t\tIssued \u00a0
\n\t\t\t\t\tSept. 2022 \u00a0
\n\t\t\t\t\tSept. 2018 \u00a0
\n\t\t\t\t\tMaturing \u00a0
\n\t\t\t\t\tJuly 3022 \u00a0
\n\t\t\t\t\tSept. 3018 \u00a0
\n\t\t\t\t\tFirst call date \u00a0
\n\t\t\t\t\t1 July 2026
12 Sept. 20221 \u00a0
\n\t\t\t\t\tInterests: \u00a0
\n\t\t\t\t\tFor the first four years \u00a0
\n\t\t\t\t\t7.240% \u00a0
\n\t\t\t\t\t5.375% \u00a0
\n\t\t\t\t\tFor the following years \u00a0
\n\t\t\t\t\tResets to the \u00a0
\n\t\t\t\t\tResets to the \u00a0
\n\t\t\t\t\t4-year EUR \u00a0
\n\t\t\t\t\t4-year EUR \u00a0
\n\t\t\t\t\tswap rate \u00a0
\n\t\t\t\t\tswap rate \u00a0
\n\t\t\t\t\tprevailing \u00a0
\n\t\t\t\t\tprevailing at \u00a0
\n\t\t\t\t\tat that time \u00a0
\n\t\t\t\t\tthat time plus \u00a0
\n\t\t\t\t\tplus 5% \u00a0
\n\t\t\t\t\t10.225% \u00a0
\n\t\t\t\t\tThe hybrid capital in 2021 was called and settled in 2022. \u00a0
In connection with the issue of the new hybrid capital in 2022, holders of \u00a0
\n\t\t\t\t\tthe previous hybrid capital had the option to roll-over their investment in \u00a0
\n\t\t\t\t\tthe new hybrid capital without any cash transactions. Therefore, the cash \u00a0
\n\t\t\t\t\tflow from the issue and repurchase of hybrid capitals are less than the \u00a0
\n\t\t\t\t\tnominal amount of the hybrids. Below is a specification of the cash flow \u00a0
\n\t\t\t\t\trelated to the hybrid capital transactions in 2022. \u00a0
Cash flow from new hybrid capital \u00a0
\n\t\t\t\t\t2022 \u00a0
\n\t\t\t\t\tIssue of new hybrid capital \u00a0
\n\t\t\t\t\t150.0 \u00a0
\n\t\t\t\t\tCosts associated with new hybrid capital \u00a0
\n\t\t\t\t\t-1.6 \u00a0
\n\t\t\t\t\tTransferring of former hybrid holders to new hybrid capital \u00a0
\n\t\t\t\t\t-86.7 \u00a0
\n\t\t\t\t\tProceeds from issurance of hybrid capital \u00a0
\n\t\t\t\t\t61.7 \u00a0
\n\t\t\t\t\tRepayment of previous hybrid capital \u00a0
\n\t\t\t\t\t-150.0 \u00a0
\n\t\t\t\t\tTransferring of former hybrid holders to new hybrid capital \u00a0
\n\t\t\t\t\t86.7 \u00a0
\n\t\t\t\t\tRepurchase of hybrid capital \u00a0
\n\t\t\t\t\t-63.3 \u00a0
On 11 August 2022, NKT A/S announced the notice of early redemption \u00a0
\n\t\t\t\t\tof all of its outstanding hybrid securities due 3018 with redemption date \u00a0
\n\t\t\t\t\t12 September 2022. As per 11 August 2022, the hybrid was there- \u00a0
\n\t\t\t\t\tfore treated as an interest-bearing liability and no longer as an equity \u00a0
\n\t\t\t\t\tinstrument. Consequently, the interests on the hybrid for the period up \u00a0
\n\t\t\t\t\tuntil 11 August 2022 are treated as dividend on the equity and interests \u00a0
\n\t\t\t\t\tfor the period after 11 August 2022 until redemption date are treated as \u00a0
\n\t\t\t\t\tfinancial items. \u00a0
Accounting policy \u00a0
\n\t\t\t\t\tHybrid capital is treated in accordance with the rules on compound \u00a0
\n\t\t\t\t\tfinancial instruments based on the characteristics of the bonds. The \u00a0
\n\t\t\t\t\tnotional amount, which constitutes a liability, is recognized at present \u00a0
\n\t\t\t\t\tvalue, and equity has been increased by the difference between the net \u00a0
\n\t\t\t\t\tproceeds received and the present value of the discounted liability. The \u00a0
\n\t\t\t\t\tpart of the hybrid capital that is accounted for as a liability is measured \u00a0
\n\t\t\t\t\tat amortized cost. The carrying amount is zero on initial recognition and \u00a0
\n\t\t\t\t\tdue to the 1,000-year term of the hybrid capital, amortization charges \u00a0
\n\t\t\t\t\twill only have an impact on the income statement for the years at the \u00a0
\n\t\t\t\t\tend of the 1,000-year term of the hybrid capital. \u00a0
\n\t\t\t\t\tCoupon payments are accounted for as dividends and are recognized \u00a0
\n\t\t\t\t\tdirectly in equity when the obligation to pay arises. \u00a0
\n\t\t\t\t\tThe obligation to pay coupon payments is at the discretion of Group \u00a0
\n\t\t\t\t\tManagement and deferred coupon lapses upon maturity of the hybrid \u00a0
\n\t\t\t\t\tcapital. Coupon payments are recognized in the statement of cash flows \u00a0
\n\t\t\t\t\tin the same way as dividend payments within financing activities. \u00a0
\n\t\t\t\t\tOn redemption of the hybrid capital, the payment will be distributed \u00a0
\n\t\t\t\t\tbetween liability and equity, applying the same principles as used when \u00a0
\n\t\t\t\t\tthe hybrid capital was issued. The difference between the payment on \u00a0
\n\t\t\t\t\tredemption and the net proceeds received on issue is recognized directly \u00a0
\n\t\t\t\t\tin equity as the debt portion of the existing hybrid issues will be nil during \u00a0
\n\t\t\t\t\tthe first part of the life of the hybrid capital. \u00a0
\n\t\t\t\t\tOn the date on which the Board of Directors decides to exercise an op- \u00a0
\n\t\t\t\t\ttion to redeem the hybrid capital, the part of the hybrid capital that will be \u00a0
\n\t\t\t\t\tredeemed will be reclassified to loans and borrowings. The reclassifica- \u00a0
\n\t\t\t\t\ttion will be made at the market value of the hybrid capital at the date the \u00a0
\n\t\t\t\t\tdecision is made. Following the reclassification, coupon payments and \u00a0
\n\t\t\t\t\texchange rate adjustments will be recognized in the income statement \u00a0
\n\t\t\t\t\tas financial income or expenses. \u00a0
5.4 Net interest-bearing debt \u00a0
\n\t\t\t\t\tNet interest-bearing debt \u00a0
\n\t\t\t\t\tNet interest-bearing debt incl. liabilities associated with assets held for \u00a0
\n\t\t\t\t\tsale end 2022 was EUR -54.8m (EUR 13.2m end-2021), corresponding \u00a0
\n\t\t\t\t\tto an decrease of EUR 68.0m. The decrease was driven by the improved \u00a0
\n\t\t\t\t\tresult as well as improved working capital. \u00a0
\n\t\t\t\t\tIn addition to the hybrid security mentioned in note 5.3 and Revolving \u00a0
\n\t\t\t\t\tCredit Facility (RCF) mentioned in note 5.6, NKT Group has mortgage \u00a0
\n\t\t\t\t\tdebt of EUR 139.8m (EUR 154.3m in 2021). \u00a0
\n\t\t\t\t\tNet interest-bearing debt includes debt related to capitalized lease \u00a0
\n\t\t\t\t\tcontracts of EUR 37.6m (EUR 50.2m in 2021). Of this amount, EUR \u00a0
\n\t\t\t\t\t32.1m was recognized as non-current (EUR 42.5m in 2021), and EUR \u00a0
\n\t\t\t\t\t5.5m as current debt (EUR 7.7m in 2021). In 2022, payments related to \u00a0
\n\t\t\t\t\tcapitalized lease contracts amounted to EUR 7.1m (EUR 9.4m in 2021), \u00a0
\n\t\t\t\t\tof which EUR 5.3m was installments on the debt (EUR 7.3m in 2021) \u00a0
\n\t\t\t\t\tand the remaining amount, EUR 1.8m (EUR 2.1m in 2021), was interest \u00a0
\n\t\t\t\t\texpenses recognized in financial items in the income statement. \u00a0
Amounts in EURm \u00a0
\n\t\t\t\t\t2022 \u00a0
\n\t\t\t\t\t2021 \u00a0
\n\t\t\t\t\tNet interest-bearing debt comprise: \u00a0
\n\t\t\t\t\tNon-current loans \u00a0
\n\t\t\t\t\t180.9 \u00a0
\n\t\t\t\t\t196.4 \u00a0
\n\t\t\t\t\tCurrent loans \u00a0
\n\t\t\t\t\t14.9 \u00a0
\n\t\t\t\t\t17.5 \u00a0
\n\t\t\t\t\tInterest-bearing debt, gross \u00a0
\n\t\t\t\t\t195.8 \u00a0
\n\t\t\t\t\t213.9 \u00a0
\n\t\t\t\t\tInterest-bearing receivables \u00a0
\n\t\t\t\t\t0.2 \u00a0
\n\t\t\t\t\t0.2 \u00a0
\n\t\t\t\t\tCash at bank and in hand \u00a0
\n\t\t\t\t\t258.5 \u00a0
\n\t\t\t\t\t200.5 \u00a0
\n\t\t\t\t\tNet interest-bearing debt \u00a0
\n\t\t\t\t\t-62.9 \u00a0
\n\t\t\t\t\t13.2 \u00a0
\n\t\t\t\t\tNet interest-bearing debt presented as assets held for sale \u00a0
\n\t\t\t\t\t8.1 \u00a0
\n\t\t\t\t\t0.0 \u00a0
\n\t\t\t\t\tNet interest-bearing debt incl. assets held for sale \u00a0
\n\t\t\t\t\t-54.8 \u00a0
\n\t\t\t\t\t13.2 \u00a0
Changes in current loans, non-current loans and lease liabilities \u00a0
\n\t\t\t\t\tLiabilities \u00a0
\n\t\t\t\t\tEffect of \u00a0
\n\t\t\t\t\tChanges \u00a0
\n\t\t\t\t\tassociated \u00a0
\n\t\t\t\t\tchanges in \u00a0
\n\t\t\t\t\tfrom \u00a0
\n\t\t\t\t\tChanges \u00a0
\n\t\t\t\t\tAcquisitions \u00a0
\n\t\t\t\t\twith assets \u00a0
\n\t\t\t\t\texchange \u00a0
\n\t\t\t\t\tAmounts in EURm \u00a0
\n\t\t\t\t\t1 January \u00a0
\n\t\t\t\t\tcash flow \u00a0
\n\t\t\t\t\tin leases \u00a0
\n\t\t\t\t\tof business \u00a0
\n\t\t\t\t\theld for sale \u00a0
\n\t\t\t\t\trates 31
December \u00a0
\n\t\t\t\t\tCurrent and non-current loans1, 2022 \u00a0
\n\t\t\t\t\t213.9 \u00a0
\n\t\t\t\t\t-5.9 \u00a0
\n\t\t\t\t\t-4.5 \u00a0
\n\t\t\t\t\t5.5 \u00a0
\n\t\t\t\t\t-8.6 \u00a0
\n\t\t\t\t\t-4.6 \u00a0
\n\t\t\t\t\t195.8 \u00a0
\n\t\t\t\t\tCurrent and non-current loans1, 2021 \u00a0
\n\t\t\t\t\t213.4 \u00a0
\n\t\t\t\t\t-5.6 \u00a0
\n\t\t\t\t\t4.1 \u00a0
\n\t\t\t\t\t0.0 \u00a0
\n\t\t\t\t\t0.0 \u00a0
\n\t\t\t\t\t2.0 \u00a0
\n\t\t\t\t\t213.9 \u00a0
\n\t\t\t\t\t1
\n\t\t\t\t\tCurrent and non-current loans include leasing liabilities \u00a0
Changes in current loans, non-current loans and lease liabilities \u00a0
\n\t\t\t\t\tLess than \u00a0
\n\t\t\t\t\tMore than \u00a0
\n\t\t\t\t\tAmounts in EURm \u00a0
\n\t\t\t\t\t1 year \u00a0
\n\t\t\t\t\t1-3 years \u00a0
\n\t\t\t\t\t3-5 years \u00a0
\n\t\t\t\t\t5 years \u00a0
\n\t\t\t\t\tTotal \u00a0
\n\t\t\t\t\t2022 \u00a0
\n\t\t\t\t\tInterest-bearing loans and borrowings1 \u00a0
\n\t\t\t\t\t14.9 \u00a0
\n\t\t\t\t\t35.6 \u00a0
\n\t\t\t\t\t24.1 \u00a0
\n\t\t\t\t\t121.2 \u00a0
\n\t\t\t\t\t195.8 \u00a0
\n\t\t\t\t\tHereof leasing liabilities \u00a0
\n\t\t\t\t\t5.5 \u00a0
\n\t\t\t\t\t8.0 \u00a0
\n\t\t\t\t\t6.0 \u00a0
\n\t\t\t\t\t18.1 \u00a0
\n\t\t\t\t\t37.6 \u00a0
\n\t\t\t\t\tTrade payables \u00a0
\n\t\t\t\t\t351.0 \u00a0
\n\t\t\t\t\t351.0 \u00a0
\n\t\t\t\t\tPrepayments \u00a0
\n\t\t\t\t\t18.4 \u00a0
\n\t\t\t\t\t18.4 \u00a0
\n\t\t\t\t\tDerivative Financial liabilities \u00a0
\n\t\t\t\t\t76.6 \u00a0
\n\t\t\t\t\t76.6 \u00a0
\n\t\t\t\t\tOther payables \u00a0
\n\t\t\t\t\t147.1 \u00a0
\n\t\t\t\t\t147.1 \u00a0
\n\t\t\t\t\tTotal \u00a0
\n\t\t\t\t\t608.0 \u00a0
\n\t\t\t\t\t35.6 \u00a0
\n\t\t\t\t\t24.1 \u00a0
\n\t\t\t\t\t121.2 \u00a0
\n\t\t\t\t\t788.9 \u00a0
\n\t\t\t\t\t2021 \u00a0
\n\t\t\t\t\tInterest-bearing loans and borrowings1 \u00a0
\n\t\t\t\t\t17.5 \u00a0
\n\t\t\t\t\t39.0 \u00a0
\n\t\t\t\t\t36.6 \u00a0
\n\t\t\t\t\t120.8 \u00a0
\n\t\t\t\t\t213.9 \u00a0
\n\t\t\t\t\tHereof leasing liabilities \u00a0
\n\t\t\t\t\t7.7 \u00a0
\n\t\t\t\t\t12.3 \u00a0
\n\t\t\t\t\t7.9 \u00a0
\n\t\t\t\t\t22.3 \u00a0
\n\t\t\t\t\t50.2 \u00a0
\n\t\t\t\t\tTrade payables \u00a0
\n\t\t\t\t\t341.8 \u00a0
\n\t\t\t\t\t341.8 \u00a0
\n\t\t\t\t\tPrepayments \u00a0
\n\t\t\t\t\t7.8 \u00a0
\n\t\t\t\t\t7.8 \u00a0
\n\t\t\t\t\tDerivative Financial liabilities \u00a0
\n\t\t\t\t\t14.6 \u00a0
\n\t\t\t\t\t14.6 \u00a0
\n\t\t\t\t\tOther payables \u00a0
\n\t\t\t\t\t155.8 \u00a0
\n\t\t\t\t\t155.8 \u00a0
\n\t\t\t\t\tTotal \u00a0
\n\t\t\t\t\t537.5 \u00a0
\n\t\t\t\t\t39.0 \u00a0
\n\t\t\t\t\t36.6 \u00a0
\n\t\t\t\t\t120.8 \u00a0
\n\t\t\t\t\t733.9 \u00a0
\n\t\t\t\t\t1
\n\t\t\t\t\tInterest-bearing loans and borrowings include leasing liabilities recognized in the balance sheet, but not short-term and low-value leases. These are specified in note 3.2. \u00a0
The items in the table do not include interest. The forward contracts are \u00a0
\n\t\t\t\t\trecognized at fair value and the discount element is considered insignifi- \u00a0
\n\t\t\t\t\tcant because of short maturity. \u00a0
\n\t\t\t\t\tInterest-bearing loans and borrowings are consequently recognized in \u00a0
\n\t\t\t\t\tthe balance sheet at the amounts stated in the table. Interest-bearing \u00a0
\n\t\t\t\t\tloans and borrowings are predominantly based on floating interest rates \u00a0
\n\t\t\t\t\tand are measured at amortized cost. The carrying amount therefore in all \u00a0
\n\t\t\t\t\tmaterial aspects corresponds to fair value and nominal value. \u00a0
Accounting policy \u00a0
\n\t\t\t\t\tInterest-bearing loans and borrowings are recognized at the amount \u00a0
\n\t\t\t\t\tof proceeds received at the date of borrowing, net of transaction costs \u00a0
\n\t\t\t\t\tpaid. In subsequent periods the financial liabilities are measured at \u00a0
\n\t\t\t\t\tamortized cost using \u2018the effective interest method\u2019, and the difference \u00a0
\n\t\t\t\t\tbetween the proceeds and the nominal value is therefore being recog- \u00a0
\n\t\t\t\t\tnized in the income statement under financial expenses over the term of \u00a0
\n\t\t\t\t\tthe loan. \u00a0
\n\t\t\t\t\tInterest-bearing loans and borrowings also include the capitalized residu- \u00a0
\n\t\t\t\t\tal lease obligations on finance leases measured at amortized cost. \u00a0
5.5 Financial items \u00a0
\n\t\t\t\t\tFinancial income \u00a0
\n\t\t\t\t\tFinancial expenses \u00a0
\n\t\t\t\t\tNet financial items \u00a0
\n\t\t\t\t\tAmounts in EURm \u00a0
\n\t\t\t\t\t2022 \u00a0
\n\t\t\t\t\t2021 \u00a0
\n\t\t\t\t\t2022 \u00a0
\n\t\t\t\t\t2021 \u00a0
\n\t\t\t\t\t2022 \u00a0
\n\t\t\t\t\t2021 \u00a0
\n\t\t\t\t\tInterest etc. relating to financial assets/liabilities \u00a0
\n\t\t\t\t\tmeasured at amortized cost \u00a0
\n\t\t\t\t\t2.2 \u00a0
\n\t\t\t\t\t4.8 \u00a0
\n\t\t\t\t\t-6.4 \u00a0
\n\t\t\t\t\t-9.1 \u00a0
\n\t\t\t\t\t-4.2 \u00a0
\n\t\t\t\t\t-4.3 \u00a0
\n\t\t\t\t\tInterest expenses on leases \u00a0
\n\t\t\t\t\t0.0 \u00a0
\n\t\t\t\t\t0.0 \u00a0
\n\t\t\t\t\t-1.8 \u00a0
\n\t\t\t\t\t-1.8 \u00a0
\n\t\t\t\t\t-1.8 \u00a0
\n\t\t\t\t\t-1.8 \u00a0
\n\t\t\t\t\tTotal interest \u00a0
\n\t\t\t\t\t2.2 \u00a0
\n\t\t\t\t\t4.8 \u00a0
\n\t\t\t\t\t-8.2 \u00a0
\n\t\t\t\t\t-10.9 \u00a0
\n\t\t\t\t\t-6.0 \u00a0
\n\t\t\t\t\t-6.1 \u00a0
\n\t\t\t\t\tForeign exchange gains/losses \u00a0
\n\t\t\t\t\t50.4 \u00a0
\n\t\t\t\t\t20.5 \u00a0
\n\t\t\t\t\t-53.1 \u00a0
\n\t\t\t\t\t-17.3 \u00a0
\n\t\t\t\t\t-2.7 \u00a0
\n\t\t\t\t\t3.2 \u00a0
\n\t\t\t\t\tGain/loss on derivative financial instruments \u00a0
\n\t\t\t\t\t19.7 \u00a0
\n\t\t\t\t\t40.5 \u00a0
\n\t\t\t\t\t-1.9 \u00a0
\n\t\t\t\t\t-45.8 \u00a0
\n\t\t\t\t\t17.8 \u00a0
\n\t\t\t\t\t-5.3 \u00a0
\n\t\t\t\t\tTotal currency gain/losses \u00a0
\n\t\t\t\t\t70.1 \u00a0
\n\t\t\t\t\t61.0 \u00a0
\n\t\t\t\t\t-55.0 \u00a0
\n\t\t\t\t\t-63.1 \u00a0
\n\t\t\t\t\t15.1 \u00a0
\n\t\t\t\t\t-2.1 \u00a0
\n\t\t\t\t\tTotal financial items \u00a0
\n\t\t\t\t\t72.3 \u00a0
\n\t\t\t\t\t65.8 \u00a0
\n\t\t\t\t\t-63.2 \u00a0
\n\t\t\t\t\t-74.0 \u00a0
\n\t\t\t\t\t9.1 \u00a0
\n\t\t\t\t\t-8.2 \u00a0
Financial income and expenses comprise interest, dividends, gain/loss \u00a0
\n\t\t\t\t\ton securities, receivables and transactions denominated in foreign cur- \u00a0
\n\t\t\t\t\trencies, amortization of financial assets and liabilities, allowances under \u00a0
\n\t\t\t\t\tthe Danish tax prepayment scheme, as well as changes in the fair value \u00a0
\n\t\t\t\t\tof derivative financial instruments not designated as hedges. \u00a0
Accounting policy \u00a0
\n\t\t\t\t\tChanges in market values of currency and interest rate derivatives not \u00a0
\n\t\t\t\t\tentered into with the purpose of hedging an exposure, are recognized in \u00a0
\n\t\t\t\t\tfinancial income or expenses respectively. \u00a0
5.6 Financial risks and financial instruments \u00a0
Financial risk management policy \u00a0
\n\t\t\t\t\tNKT is exposed to and manages several financial \u00a0
\n\t\t\t\t\trisks due to its operations, investments and financing \u00a0
\n\t\t\t\t\tactivities. The risk policy does not allow for speculation \u00a0
\n\t\t\t\t\tin financial risks. \u00a0
\n\t\t\t\t\tThe risk management policy is managed by Group \u00a0
\n\t\t\t\t\tTreasury. The general principle is that all known risks \u00a0
\n\t\t\t\t\tare hedged, though with acceptance of an open \u00a0
\n\t\t\t\t\tposition within a defined threshold. The risk thresholds \u00a0
\n\t\t\t\t\tare defined at a level, that insure NKT is sufficiently pro- \u00a0
\n\t\t\t\t\ttected against any risk, while providing Group Treasury \u00a0
\n\t\t\t\t\troom for managing risks efficiently. \u00a0
\n\t\t\t\t\tNKT uses financial instruments, such as forwards, \u00a0
\n\t\t\t\t\tswaps and interest rate caps to hedge exposures relat- \u00a0
\n\t\t\t\t\ting to currency, interest rates, and commodities. While \u00a0
\n\t\t\t\t\toptions are also available as instruments, no option \u00a0
\n\t\t\t\t\tcontracts are active at the end of 2022 (none in 2021). \u00a0
\n\t\t\t\t\tThe financial risks, as described further below, are \u00a0
\n\t\t\t\t\tdivided into: \u00a0
\n\t\t\t\t\t1. Currency risks \u00a0
\n\t\t\t\t\t2. Interest rate risks \u00a0
\n\t\t\t\t\t3. Raw material price risks \u00a0
\n\t\t\t\t\t4. Credit risks \u00a0
\n\t\t\t\t\t5. Liquidity risks \u00a0
Currency risks \u00a0
\n\t\t\t\t\tWith presence in several countries NKT is exposed to \u00a0
\n\t\t\t\t\tcurrency risks that may have considerable influence on \u00a0
\n\t\t\t\t\tthe income statement and balance sheet. Currency risks \u00a0
\n\t\t\t\t\trefer to the risks of losses (or opportunities for gains) \u00a0
\n\t\t\t\t\tresulting from changes in currency rates. Currency risks \u00a0
\n\t\t\t\t\tarise through transactions, financial assets and liabilities \u00a0
\n\t\t\t\t\tdenominated in currencies other than the functional \u00a0
\n\t\t\t\t\tcurrency of the individual businesses. Quantification and \u00a0
\n\t\t\t\t\tidentification of existing and anticipated currency risks \u00a0
\n\t\t\t\t\tare the responsibility of the individual businesses, while \u00a0
\n\t\t\t\t\tthe actual hedging is executed by Group Treasury. \u00a0
\n\t\t\t\t\tNKT does not hedge the currency risks related to net \u00a0
\n\t\t\t\t\tinvestments in foreign subsidiaries. Gains and losses \u00a0
\n\t\t\t\t\trelating to unhedged net assets in foreign subsidiaries \u00a0
\n\t\t\t\t\tare accounted directly in other comprehensive income. \u00a0
The principal currency exposure relates to sales and \u00a0
\n\t\t\t\t\tpurchases in currencies other than the functional \u00a0
\n\t\t\t\t\tcurrency of the businesses. Hedging of these currency \u00a0
\n\t\t\t\t\trisks are based on an assessment of the likelihood of \u00a0
\n\t\t\t\t\tthe future transaction being performed and materiality. \u00a0
\n\t\t\t\t\tExpected cash flows with significant currency risk are \u00a0
\n\t\t\t\t\thedged as they become known. Currency risks from \u00a0
\n\t\t\t\t\tproject-related sales are considered on an individual \u00a0
\n\t\t\t\t\tbasis. The fair value of the effective part of the hedge \u00a0
\n\t\t\t\t\tis recognized in other comprehensive income on a \u00a0
\n\t\t\t\t\tcontinuous basis. \u00a0
\n\t\t\t\t\tThe table on the next page shows net outstanding for- \u00a0
\n\t\t\t\t\tward exchange hedging contracts as at 31 December \u00a0
\n\t\t\t\t\tfor NKT, which are used for and fulfil the conditions for \u00a0
\n\t\t\t\t\thedge accounting of future transactions. \u00a0
\n\t\t\t\t\tThe fair value of the total portfolio of currency hedge \u00a0
\n\t\t\t\t\tcontracts will impact other comprehensive income if \u00a0
\n\t\t\t\t\tcurrency rates change. The effect of a 10% increase \u00a0
\n\t\t\t\t\tin selected currency rates is shown in the table to the \u00a0
\n\t\t\t\t\tright. \u00a0
\n\t\t\t\t\tAs NKT currently only uses forwards and spots to \u00a0
\n\t\t\t\t\thedge the FX risks, and only designate the spot ele- \u00a0
\n\t\t\t\t\tment, the likelihood of inefficiency is low, through possi- \u00a0
\n\t\t\t\t\tble if changes in expected cashflows from projects are \u00a0
\n\t\t\t\t\tnot reflected correctly in the hedges. \u00a0
Interest rate risks \u00a0
\n\t\t\t\t\tInterest rate risks refer to the influence of changes in \u00a0
\n\t\t\t\t\tmarket interest rates on future cash flows concerning \u00a0
\n\t\t\t\t\tinterest-bearing assets and liabilities. \u00a0
\n\t\t\t\t\tIn 2022 no interest rate swaps were made. In 2021 an \u00a0
\n\t\t\t\t\tinterest rate hedge of EUR 30m was made in form of an \u00a0
\n\t\t\t\t\tinterest rate swap with a fixed rate of -0.3375 maturing \u00a0
\n\t\t\t\t\tin March 2026. \u00a0
\n\t\t\t\t\tAs of end-2022, the market value of the interest rate \u00a0
\n\t\t\t\t\tderivatives was EUR 7.6m (EUR 0.8m in 2021). \u00a0
Sensitivity analysis - financial instruments \u00a0
\n\t\t\t\t\tEURm \u00a0
\n\t\t\t\t\t2022 \u00a0
\n\t\t\t\t\t2021 \u00a0
\n\t\t\t\t\tEffect on \u00a0
\n\t\t\t\t\tEffect \u00a0
\n\t\t\t\t\tEffect on \u00a0
\n\t\t\t\t\tEffect \u00a0
\n\t\t\t\t\tearnings \u00a0
\n\t\t\t\t\ton equity \u00a0
\n\t\t\t\t\tearnings \u00a0
\n\t\t\t\t\ton equity \u00a0
\n\t\t\t\t\tRisk \u00a0
\n\t\t\t\t\tPrice change \u00a0
\n\t\t\t\t\tbefore tax \u00a0
\n\t\t\t\t\tbefore tax \u00a0
\n\t\t\t\t\tbefore tax \u00a0
\n\t\t\t\t\tbefore tax \u00a0
\n\t\t\t\t\tSEK \u00a0
\n\t\t\t\t\t10% \u00a0
\n\t\t\t\t\t-43.7 \u00a0
\n\t\t\t\t\t62.5 \u00a0
\n\t\t\t\t\t11.4 \u00a0
\n\t\t\t\t\t-3.1 \u00a0
\n\t\t\t\t\t-10% \u00a0
\n\t\t\t\t\t43.7 \u00a0
\n\t\t\t\t\t-62.5 \u00a0
\n\t\t\t\t\t-11.4 \u00a0
\n\t\t\t\t\t3.1 \u00a0
\n\t\t\t\t\tGBP \u00a0
\n\t\t\t\t\t10% \u00a0
\n\t\t\t\t\t0.3 \u00a0
\n\t\t\t\t\t-22.8 \u00a0
\n\t\t\t\t\t0.0 \u00a0
\n\t\t\t\t\t3.1 \u00a0
\n\t\t\t\t\t-10% \u00a0
\n\t\t\t\t\t-0.3 \u00a0
\n\t\t\t\t\t22.8 \u00a0
\n\t\t\t\t\t0.0 \u00a0
\n\t\t\t\t\t-3.1 \u00a0
\n\t\t\t\t\tNOK \u00a0
\n\t\t\t\t\t10% \u00a0
\n\t\t\t\t\t0.0 \u00a0
\n\t\t\t\t\t2.6 \u00a0
\n\t\t\t\t\t0.2 \u00a0
\n\t\t\t\t\t-3.8 \u00a0
\n\t\t\t\t\t-10% \u00a0
\n\t\t\t\t\t0.0 \u00a0
\n\t\t\t\t\t-2.6 \u00a0
\n\t\t\t\t\t-0.2 \u00a0
\n\t\t\t\t\t3.8 \u00a0
\n\t\t\t\t\tUSD \u00a0
\n\t\t\t\t\t10% \u00a0
\n\t\t\t\t\t0.0 \u00a0
\n\t\t\t\t\t-29.4 \u00a0
\n\t\t\t\t\t-0.2 \u00a0
\n\t\t\t\t\t2.6 \u00a0
\n\t\t\t\t\t-10% \u00a0
\n\t\t\t\t\t0.0 \u00a0
\n\t\t\t\t\t29.4 \u00a0
\n\t\t\t\t\t0.2 \u00a0
\n\t\t\t\t\t-2.6 \u00a0
\n\t\t\t\t\tCZK \u00a0
\n\t\t\t\t\t10% \u00a0
\n\t\t\t\t\t-0.8 \u00a0
\n\t\t\t\t\t-0.4 \u00a0
\n\t\t\t\t\t3.4 \u00a0
\n\t\t\t\t\t0.0 \u00a0
\n\t\t\t\t\t-10% \u00a0
\n\t\t\t\t\t0.8 \u00a0
\n\t\t\t\t\t0.4 \u00a0
\n\t\t\t\t\t-3.4 \u00a0
\n\t\t\t\t\t0.0 \u00a0
\n\t\t\t\t\tPLN \u00a0
\n\t\t\t\t\t10% \u00a0
\n\t\t\t\t\t3.6 \u00a0
\n\t\t\t\t\t0.0 \u00a0
\n\t\t\t\t\t-7.2 \u00a0
\n\t\t\t\t\t0.0 \u00a0
\n\t\t\t\t\t-10% \u00a0
\n\t\t\t\t\t-3.6 \u00a0
\n\t\t\t\t\t0.0 \u00a0
\n\t\t\t\t\t7.2 \u00a0
\n\t\t\t\t\t0.0 \u00a0
\n\t\t\t\t\tCopper \u00a0
\n\t\t\t\t\t10% \u00a0
\n\t\t\t\t\t0.0 \u00a0
\n\t\t\t\t\t54.5 \u00a0
\n\t\t\t\t\t0.0 \u00a0
\n\t\t\t\t\t62.3 \u00a0
\n\t\t\t\t\t-10% \u00a0
\n\t\t\t\t\t0.0 \u00a0
\n\t\t\t\t\t-54.5 \u00a0
\n\t\t\t\t\t0.0 \u00a0
\n\t\t\t\t\t-62.3 \u00a0
\n\t\t\t\t\tLead \u00a0
\n\t\t\t\t\t10% \u00a0
\n\t\t\t\t\t0.0 \u00a0
\n\t\t\t\t\t1.9 \u00a0
\n\t\t\t\t\t0.0 \u00a0
\n\t\t\t\t\t1.5 \u00a0
\n\t\t\t\t\t-10% \u00a0
\n\t\t\t\t\t0.0 \u00a0
\n\t\t\t\t\t-1.9 \u00a0
\n\t\t\t\t\t0.0 \u00a0
\n\t\t\t\t\t-1.5 \u00a0
\n\t\t\t\t\tAluminium \u00a0
\n\t\t\t\t\t10% \u00a0
\n\t\t\t\t\t0.0 \u00a0
\n\t\t\t\t\t-1.1 \u00a0
\n\t\t\t\t\t0.0 \u00a0
\n\t\t\t\t\t0.9 \u00a0
\n\t\t\t\t\t-10% \u00a0
\n\t\t\t\t\t0.0 \u00a0
\n\t\t\t\t\t1.1 \u00a0
\n\t\t\t\t\t0.0 \u00a0
\n\t\t\t\t\t-0.9 \u00a0
\n\t\t\t\t\tGas-oil \u00a0
\n\t\t\t\t\t10% \u00a0
\n\t\t\t\t\t0.0 \u00a0
\n\t\t\t\t\t2.3 \u00a0
\n\t\t\t\t\t0.0 \u00a0
\n\t\t\t\t\t1.8 \u00a0
\n\t\t\t\t\t-10% \u00a0
\n\t\t\t\t\t0.0 \u00a0
\n\t\t\t\t\t-2.3 \u00a0
\n\t\t\t\t\t0.0 \u00a0
\n\t\t\t\t\t-1.8 \u00a0
\n\t\t\t\t\tInterest rate \u00a0
\n\t\t\t\t\t1%-point \u00a0
\n\t\t\t\t\t0.0 \u00a0
\n\t\t\t\t\t0.8 \u00a0
\n\t\t\t\t\t0.0 \u00a0
\n\t\t\t\t\t0.8 \u00a0
\n\t\t\t\t\t-1%-point \u00a0
\n\t\t\t\t\t0.0 \u00a0
\n\t\t\t\t\t-0.8 \u00a0
\n\t\t\t\t\t0.0 \u00a0
\n\t\t\t\t\t-0.8 \u00a0
\n\t\t\t\t\tThe table above shows a sensitivity analysis of the exposures in currency, commodities and interest rates \u00a0
\n\t\t\t\t\tassuming effective hedge accounting is continued to be applied. The presented effects are from the financial \u00a0
\n\t\t\t\t\tinstruments only (all things being equal). When also considering the development of the underlying exposure the \u00a0
\n\t\t\t\t\tfuture income statement effects, will be fully or partially offset as hedge accounting is applied. \u00a0
Cash flow hedges related to \u00a0
\n\t\t\t\t\tNotional value \u00a0
\n\t\t\t\t\tNotional value \u00a0
\n\t\t\t\t\tFair value \u00a0
\n\t\t\t\t\tthe most significant currencies \u00a0
\n\t\t\t\t\tAverage exchange rate1 \u00a0
\n\t\t\t\t\tLocal currency in million \u00a0
\n\t\t\t\t\tEURm \u00a0
\n\t\t\t\t\tEURm \u00a0
\n\t\t\t\t\tLocal currency \u00a0
\n\t\t\t\t\t31 Dec 2022 \u00a0
\n\t\t\t\t\t31 Dec 2021 \u00a0
\n\t\t\t\t\t31 Dec 2022 \u00a0
\n\t\t\t\t\t31 Dec 2021 \u00a0
\n\t\t\t\t\t31 Dec 2022 \u00a0
\n\t\t\t\t\t31 Dec 2021 \u00a0
\n\t\t\t\t\t31 Dec 2022 \u00a0
\n\t\t\t\t\t31 Dec 2021 \u00a0
\n\t\t\t\t\tSEK2 \u00a0
\n\t\t\t\t\tBuy \u00a0
\n\t\t\t\t\tLess than 1 year \u00a0
\n\t\t\t\t\t0.0943 \u00a0
\n\t\t\t\t\t0.0927 \u00a0
\n\t\t\t\t\t7,661.54 \u00a0
\n\t\t\t\t\t334.18 \u00a0
\n\t\t\t\t\t722.30 \u00a0
\n\t\t\t\t\t30.99 \u00a0
\n\t\t\t\t\t-35.8 \u00a0
\n\t\t\t\t\t1.3 \u00a0
\n\t\t\t\t\tMore than 1 year \u00a0
\n\t\t\t\t\t0.0938 \u00a0
\n\t\t\t\t\t0.0915 \u00a0
\n\t\t\t\t\t8,963.35 \u00a0
\n\t\t\t\t\t23.82 \u00a0
\n\t\t\t\t\t840.94 \u00a0
\n\t\t\t\t\t2.18 \u00a0
\n\t\t\t\t\t-37.8 \u00a0
\n\t\t\t\t\t0.1 \u00a0
\n\t\t\t\t\tSell \u00a0
\n\t\t\t\t\tLess than 1 year \u00a0
\n\t\t\t\t\t0.0926 \u00a0
\n\t\t\t\t\t0.0963 \u00a0
\n\t\t\t\t\t6,873.45 \u00a0
\n\t\t\t\t\t6.96 \u00a0
\n\t\t\t\t\t636.51 \u00a0
\n\t\t\t\t\t0.67 \u00a0
\n\t\t\t\t\t20.6 \u00a0
\n\t\t\t\t\tMore than 1 year \u00a0
\n\t\t\t\t\t0.0940 \u00a0
\n\t\t\t\t\t3,431.63 \u00a0
\n\t\t\t\t\t322.62 \u00a0
\n\t\t\t\t\t15.1 \u00a0
\n\t\t\t\t\tUSD \u00a0
\n\t\t\t\t\tBuy \u00a0
\n\t\t\t\t\tLess than 1 year \u00a0
\n\t\t\t\t\t0.9410 \u00a0
\n\t\t\t\t\t0.8445 \u00a0
\n\t\t\t\t\t562.29 \u00a0
\n\t\t\t\t\t25.43 \u00a0
\n\t\t\t\t\t529.13 \u00a0
\n\t\t\t\t\t21.48 \u00a0
\n\t\t\t\t\t-9.5 \u00a0
\n\t\t\t\t\t0.7 \u00a0
\n\t\t\t\t\tMore than 1 year \u00a0
\n\t\t\t\t\t0.9486 \u00a0
\n\t\t\t\t\t0.8631 \u00a0
\n\t\t\t\t\t281.06 \u00a0
\n\t\t\t\t\t19.70 \u00a0
\n\t\t\t\t\t266.62 \u00a0
\n\t\t\t\t\t17.00 \u00a0
\n\t\t\t\t\t-10.6 \u00a0
\n\t\t\t\t\tSell \u00a0
\n\t\t\t\t\tLess than 1 year \u00a0
\n\t\t\t\t\t0.9697 \u00a0
\n\t\t\t\t\t0.8494 \u00a0
\n\t\t\t\t\t542.51 \u00a0
\n\t\t\t\t\t64.73 \u00a0
\n\t\t\t\t\t526.09 \u00a0
\n\t\t\t\t\t54.98 \u00a0
\n\t\t\t\t\t25.1 \u00a0
\n\t\t\t\t\t-1.6 \u00a0
\n\t\t\t\t\tMore than 1 year \u00a0
\n\t\t\t\t\t0.9341 \u00a0
\n\t\t\t\t\t0.8382 \u00a0
\n\t\t\t\t\t617.35 \u00a0
\n\t\t\t\t\t10.35 \u00a0
\n\t\t\t\t\t576.67 \u00a0
\n\t\t\t\t\t8.68 \u00a0
\n\t\t\t\t\t15.8 \u00a0
\n\t\t\t\t\t-0.2 \u00a0
\n\t\t\t\t\tLess than 1 year \u00a0
\n\t\t\t\t\t1.1522 \u00a0
\n\t\t\t\t\t1.1570 \u00a0
\n\t\t\t\t\t104.12 \u00a0
\n\t\t\t\t\t42.90 \u00a0
\n\t\t\t\t\t119.97 \u00a0
\n\t\t\t\t\t49.63 \u00a0
\n\t\t\t\t\t-3.3 \u00a0
\n\t\t\t\t\t1.0 \u00a0
\n\t\t\t\t\tGBP \u00a0
\n\t\t\t\t\tBuy \u00a0
\n\t\t\t\t\tMore than 1 year \u00a0
\n\t\t\t\t\t1.1626 \u00a0
\n\t\t\t\t\t1.1458 \u00a0
\n\t\t\t\t\t35.24 \u00a0
\n\t\t\t\t\t31.32 \u00a0
\n\t\t\t\t\t40.97 \u00a0
\n\t\t\t\t\t35.98 \u00a0
\n\t\t\t\t\t-1.7 \u00a0
\n\t\t\t\t\t0.6 \u00a0
\n\t\t\t\t\tSell \u00a0
\n\t\t\t\t\tLess than 1 year \u00a0
\n\t\t\t\t\t1.1551 \u00a0
\n\t\t\t\t\t1.1398 \u00a0
\n\t\t\t\t\t144.55 \u00a0
\n\t\t\t\t\t80.20 \u00a0
\n\t\t\t\t\t166.98 \u00a0
\n\t\t\t\t\t91.41 \u00a0
\n\t\t\t\t\t5.1 \u00a0
\n\t\t\t\t\t-3.1 \u00a0
\n\t\t\t\t\tMore than 1 year \u00a0
\n\t\t\t\t\t1.1702 \u00a0
\n\t\t\t\t\t1.1364 \u00a0
\n\t\t\t\t\t196.46 \u00a0
\n\t\t\t\t\t19.93 \u00a0
\n\t\t\t\t\t229.90 \u00a0
\n\t\t\t\t\t22.64 \u00a0
\n\t\t\t\t\t9.8 \u00a0
\n\t\t\t\t\t-0.5 \u00a0
\n\t\t\t\t\tNOK \u00a0
\n\t\t\t\t\tBuy \u00a0
\n\t\t\t\t\tLess than 1 year \u00a0
\n\t\t\t\t\t0.0975 \u00a0
\n\t\t\t\t\t0.0980 \u00a0
\n\t\t\t\t\t329.04 \u00a0
\n\t\t\t\t\t130.00 \u00a0
\n\t\t\t\t\t32.08 \u00a0
\n\t\t\t\t\t12.74 \u00a0
\n\t\t\t\t\t-1.7 \u00a0
\n\t\t\t\t\t0.1 \u00a0
\n\t\t\t\t\tMore than 1 year \u00a0
\n\t\t\t\t\t0.1028 \u00a0
\n\t\t\t\t\t0.0975 \u00a0
\n\t\t\t\t\t151.65 \u00a0
\n\t\t\t\t\t295.00 \u00a0
\n\t\t\t\t\t15.59 \u00a0
\n\t\t\t\t\t28.76 \u00a0
\n\t\t\t\t\t-1.4 \u00a0
\n\t\t\t\t\t-0.3 \u00a0
\n\t\t\t\t\tSell \u00a0
\n\t\t\t\t\tLess than 1 year \u00a0
\n\t\t\t\t\t0.1020 \u00a0
\n\t\t\t\t\t191.14 \u00a0
\n\t\t\t\t\t19.49 \u00a0
\n\t\t\t\t\t1.6 \u00a0
\n\t\t\t\t\tMore than 1 year \u00a0
\n\t\t\t\t\t0.0988 \u00a0
\n\t\t\t\t\t0.0988 \u00a0
\n\t\t\t\t\t14.75 \u00a0
\n\t\t\t\t\t40.00 \u00a0
\n\t\t\t\t\t1.46 \u00a0
\n\t\t\t\t\t4.00 \u00a0
\n\t\t\t\t\t0.1 \u00a0
\n\t\t\t\t\t0.1 \u00a0
\n\t\t\t\t\tCAD \u00a0
\n\t\t\t\t\tBuy \u00a0
\n\t\t\t\t\tLess than 1 year \u00a0
\n\t\t\t\t\t0.7137 \u00a0
\n\t\t\t\t\t24.00 \u00a0
\n\t\t\t\t\t17.13 \u00a0
\n\t\t\t\t\t-0.7 \u00a0
\n\t\t\t\t\tMore than 1 year \u00a0
\n\t\t\t\t\tSell \u00a0
\n\t\t\t\t\tLess than 1 year \u00a0
\n\t\t\t\t\t0.7413 \u00a0
\n\t\t\t\t\t67.96 \u00a0
\n\t\t\t\t\t50.38 \u00a0
\n\t\t\t\t\t4.0 \u00a0
\n\t\t\t\t\tMore than 1 year \u00a0
\n\t\t\t\t\t0.7500 \u00a0
\n\t\t\t\t\t45.30 \u00a0
\n\t\t\t\t\t33.98 \u00a0
\n\t\t\t\t\t3.4 \u00a0
\n\t\t\t\t\tCash flow hedges reported as assets \u00a0
\n\t\t\t\t\t74.5 \u00a0
\n\t\t\t\t\t4.4 \u00a0
\n\t\t\t\t\tCash flow hedges reported as liabilities \u00a0
\n\t\t\t\t\t76.4 \u00a0
\n\t\t\t\t\t6.2 \u00a0
\n\t\t\t\t\tEUR/Local currency \u00a0
\n\t\t\t\t\t1
\n\t\t\t\t\t2
\n\t\t\t\t\tFor hedges in Local currency/SEK the SEK part has been tranferred to EUR, and a value of the SEK part has been calculated. \u00a0
Raw material price risks \u00a0
\n\t\t\t\t\tRaw material price risks primarily relate to metals and plastics used in \u00a0
\n\t\t\t\t\tthe cable production. When changes in raw material prices cannot be \u00a0
\n\t\t\t\t\ttransferred to customers, NKT uses financial instruments to hedge the \u00a0
\n\t\t\t\t\tprice risks. NKT has, due to the larger order backlog, a high amount of raw \u00a0
\n\t\t\t\t\tmaterial derivatives to cover the risks related to the large future purchases \u00a0
\n\t\t\t\t\tof especially copper. Exposures and hedging of current and expected \u00a0
\n\t\t\t\t\tfuture raw material risks are managed by the businesses based on adopted \u00a0
\n\t\t\t\t\tGroup guidelines. Hedging of awarded projects are done at the time of \u00a0
\n\t\t\t\t\taward and adjusted according to changes in production plans. \u00a0
\n\t\t\t\t\tNKT hedge raw material via LME. Changes in the fair value of the hedging \u00a0
\n\t\t\t\t\tinstrument should offset changes in the value of the underlying item be- \u00a0
\n\t\t\t\t\tcause the reference prices are the same for the hedging instrument and the \u00a0
\n\t\t\t\t\thedged item. NKT applies cost of hedging, whereby the forward points are \u00a0
\n\t\t\t\t\trecognized in other comprehensive income and transferred with the effective \u00a0
\n\t\t\t\t\thedge when the hedged transaction occurs.. For the hedge of plastic, inef- \u00a0
\n\t\t\t\t\tfectiveness will arise as this is hedged via a gas-oil proxy hedge. Ineffective- \u00a0
\n\t\t\t\t\tness because of differences in the change between gas-oil and plastic are \u00a0
\n\t\t\t\t\tconsidered insignificant. \u00a0
\n\t\t\t\t\tAs at 31 December 2022, NKT A/S had current financial hedging instru- \u00a0
\n\t\t\t\t\tments relating to future raw material supplies of a value of EUR 908.6m \u00a0
\n\t\t\t\t\t(EUR 468.6m in 2021) with a positive fair value of EUR 170.6m (positive \u00a0
\n\t\t\t\t\tvalue of EUR 225.2m in 2021). \u00a0
\n\t\t\t\t\tSensitivity to the development (+/- 10%) in raw material prices was present- \u00a0
\n\t\t\t\t\ted in the table on page 82. The table to the right provides an overview of \u00a0
\n\t\t\t\t\tthe cash flow hedges related to raw materials. \u00a0
Average rate \u00a0
\n\t\t\t\t\tNotional value \u00a0
\n\t\t\t\t\tFair value \u00a0
\n\t\t\t\t\tCash flow hedges related to raw materials \u00a0
\n\t\t\t\t\tEUR/ton \u00a0
\n\t\t\t\t\tEURm \u00a0
\n\t\t\t\t\tEURm \u00a0
\n\t\t\t\t\tCommodity \u00a0
\n\t\t\t\t\t31 Dec 2022 \u00a0
\n\t\t\t\t\t31 Dec 2021 \u00a0
\n\t\t\t\t\t31 Dec 2022 \u00a0
\n\t\t\t\t\t31 Dec 2021 \u00a0
\n\t\t\t\t\t31 Dec 2022 \u00a0
\n\t\t\t\t\t31 Dec 2021 \u00a0
\n\t\t\t\t\tCopper \u00a0
\n\t\t\t\t\tBuy \u00a0
\n\t\t\t\t\tLess than 1 year \u00a0
\n\t\t\t\t\t5,961 \u00a0
\n\t\t\t\t\t5,882 \u00a0
\n\t\t\t\t\t528.6 \u00a0
\n\t\t\t\t\t321.0 \u00a0
\n\t\t\t\t\t169.6 \u00a0
\n\t\t\t\t\t147.3 \u00a0
\n\t\t\t\t\tMore than 1 year \u00a0
\n\t\t\t\t\t7,485 \u00a0
\n\t\t\t\t\t5,516 \u00a0
\n\t\t\t\t\t301.2 \u00a0
\n\t\t\t\t\t231.7 \u00a0
\n\t\t\t\t\t15.6 \u00a0
\n\t\t\t\t\t123.7 \u00a0
\n\t\t\t\t\tSell \u00a0
\n\t\t\t\t\tLess than 1 year \u00a0
\n\t\t\t\t\t6,421 \u00a0
\n\t\t\t\t\t5,733 \u00a0
\n\t\t\t\t\t-119.4 \u00a0
\n\t\t\t\t\t100.5 \u00a0
\n\t\t\t\t\t-26.9 \u00a0
\n\t\t\t\t\t-47.4 \u00a0
\n\t\t\t\t\tMore than 1 year \u00a0
\n\t\t\t\t\t5,371 \u00a0
\n\t\t\t\t\t14.9 \u00a0
\n\t\t\t\t\t-8.9 \u00a0
\n\t\t\t\t\tLead \u00a0
\n\t\t\t\t\tBuy \u00a0
\n\t\t\t\t\tLess than 1 year \u00a0
\n\t\t\t\t\t1,843 \u00a0
\n\t\t\t\t\t1,677 \u00a0
\n\t\t\t\t\t20.0 \u00a0
\n\t\t\t\t\t18.6 \u00a0
\n\t\t\t\t\t4.0 \u00a0
\n\t\t\t\t\t4.3 \u00a0
\n\t\t\t\t\tMore than 1 year \u00a0
\n\t\t\t\t\t1,897 \u00a0
\n\t\t\t\t\t1,721 \u00a0
\n\t\t\t\t\t10.2 \u00a0
\n\t\t\t\t\t3.1 \u00a0
\n\t\t\t\t\t1.7 \u00a0
\n\t\t\t\t\t0.7 \u00a0
\n\t\t\t\t\tSell \u00a0
\n\t\t\t\t\tLess than 1 year \u00a0
\n\t\t\t\t\t1,885 \u00a0
\n\t\t\t\t\t1,647 \u00a0
\n\t\t\t\t\t-3.2 \u00a0
\n\t\t\t\t\t8.0 \u00a0
\n\t\t\t\t\t-0.5 \u00a0
\n\t\t\t\t\t-1.9 \u00a0
\n\t\t\t\t\tMore than 1 year \u00a0
\n\t\t\t\t\t1,872 \u00a0
\n\t\t\t\t\t1.4 \u00a0
\n\t\t\t\t\tAluminium \u00a0
\n\t\t\t\t\tBuy \u00a0
\n\t\t\t\t\tLess than 1 year \u00a0
\n\t\t\t\t\t2,349 \u00a0
\n\t\t\t\t\t1,778 \u00a0
\n\t\t\t\t\t13.3 \u00a0
\n\t\t\t\t\t9.2 \u00a0
\n\t\t\t\t\t-0.8 \u00a0
\n\t\t\t\t\t4.0 \u00a0
\n\t\t\t\t\tMore than 1 year \u00a0
\n\t\t\t\t\tSell \u00a0
\n\t\t\t\t\tLess than 1 year \u00a0
\n\t\t\t\t\t2,312 \u00a0
\n\t\t\t\t\t1,563 \u00a0
\n\t\t\t\t\t-24.9 \u00a0
\n\t\t\t\t\t2.7 \u00a0
\n\t\t\t\t\t1.1 \u00a0
\n\t\t\t\t\t-1.6 \u00a0
\n\t\t\t\t\tMore than 1 year \u00a0
\n\t\t\t\t\tGas-oil \u00a0
\n\t\t\t\t\tBuy \u00a0
\n\t\t\t\t\tLess than 1 year \u00a0
\n\t\t\t\t\t620 \u00a0
\n\t\t\t\t\t420 \u00a0
\n\t\t\t\t\t20.4 \u00a0
\n\t\t\t\t\t6.6 \u00a0
\n\t\t\t\t\t5.5 \u00a0
\n\t\t\t\t\t2.6 \u00a0
\n\t\t\t\t\tMore than 1 year \u00a0
\n\t\t\t\t\t613 \u00a0
\n\t\t\t\t\t412 \u00a0
\n\t\t\t\t\t13.0 \u00a0
\n\t\t\t\t\t8.3 \u00a0
\n\t\t\t\t\t1.5 \u00a0
\n\t\t\t\t\t2.5 \u00a0
\n\t\t\t\t\tSell \u00a0
\n\t\t\t\t\tLess than 1 year \u00a0
\n\t\t\t\t\t634 \u00a0
\n\t\t\t\t\t578 \u00a0
\n\t\t\t\t\t-2.0 \u00a0
\n\t\t\t\t\t2.1 \u00a0
\n\t\t\t\t\t-0.6 \u00a0
\n\t\t\t\t\t-0.1 \u00a0
\n\t\t\t\t\tMore than 1 year \u00a0
\n\t\t\t\t\t847 \u00a0
\n\t\t\t\t\t573 \u00a0
\n\t\t\t\t\t-2.9 \u00a0
\n\t\t\t\t\t0.3 \u00a0
\n\t\t\t\t\t0.6 \u00a0
\n\t\t\t\t\tCash flow hedges reported as assets \u00a0
\n\t\t\t\t\t171.0 \u00a0
\n\t\t\t\t\t225.8 \u00a0
\n\t\t\t\t\tCash flow hedges reported as liabilities \u00a0
\n\t\t\t\t\t0.2 \u00a0
\n\t\t\t\t\t0.6 \u00a0
Accounting policy \u00a0
\n\t\t\t\t\tNKT mainly apply hedge accounting for financial instruments related to \u00a0
\n\t\t\t\t\tcurrency, raw materials as well as interest rates for loans. The hedges \u00a0
\n\t\t\t\t\tnormally hedge the risk one-to-one with the hedged item. Only gas-oil \u00a0
\n\t\t\t\t\thedges for the hedging of the price risk of plastic differs from this principle, \u00a0
\n\t\t\t\t\tas Group Treasury here determine the ratio necessary to hedge the price \u00a0
\n\t\t\t\t\trisk for plastic. \u00a0
\n\t\t\t\t\tThe Group designates the share of the fair value of a forward contract \u00a0
\n\t\t\t\t\tthat is related to cash price for metals and spot price for FX hedges (i.e. \u00a0
excluding the forward elements) as the hedging instrument for all of its \u00a0
\n\t\t\t\t\thedging relationships involving forward contracts. In accordance with the \u00a0
\n\t\t\t\t\tcost of hedging principle all fair values related to the forward element of \u00a0
\n\t\t\t\t\tthe hedging contract is recognized in other comprehensive income and \u00a0
\n\t\t\t\t\taccumulated in the cost of hedging reserve. As the hedged items are \u00a0
\n\t\t\t\t\ttransaction-related, the forward element is reclassified to the profit or loss \u00a0
\n\t\t\t\t\twhen the hedged item affects profit or loss, and in the same line item as \u00a0
\n\t\t\t\t\tthe hedged item. \u00a0
Fair value changes for cash flow hedges considered effective, are recog- \u00a0
\n\t\t\t\t\tnized in other comprehensive income in the hedging reserve. For each \u00a0
\n\t\t\t\t\treporting date, effectiveness is considered and if the future cash flows are \u00a0
\n\t\t\t\t\tno longer expected to materialize, the accumulated value reported in the \u00a0
\n\t\t\t\t\thedge reserve is reclassified to financial items in the income statement. In \u00a0
\n\t\t\t\t\tall other cases the accumulated value is reclassified to the income state- \u00a0
\n\t\t\t\t\tment in the same line as the hedged item. \u00a0
Foreign \u00a0
\n\t\t\t\t\texchange Interest
rate Commodity \u00a0
\n\t\t\t\t\tAmounts in EURm \u00a0
\n\t\t\t\t\trisk hedging
risk hedging
risk hedging \u00a0
\n\t\t\t\t\tTotal \u00a0
\n\t\t\t\t\tBalance at 1 January 2021 \u00a0
\n\t\t\t\t\t-0.4 \u00a0
\n\t\t\t\t\t-0.1 \u00a0
\n\t\t\t\t\t72.4 \u00a0
\n\t\t\t\t\t71.9 \u00a0
\n\t\t\t\t\tGain arising from changes in fair value of hedging instruments \u00a0
\n\t\t\t\t\t5.7 \u00a0
\n\t\t\t\t\t0.9 \u00a0
\n\t\t\t\t\t220.2 \u00a0
\n\t\t\t\t\t226.8 \u00a0
\n\t\t\t\t\tIncome tax related to gains recognized in other comprehensive income \u00a0
\n\t\t\t\t\t-1.3 \u00a0
\n\t\t\t\t\t-0.2 \u00a0
\n\t\t\t\t\t-55.7 \u00a0
\n\t\t\t\t\t-57.2 \u00a0
\n\t\t\t\t\tGain reclassified to profit or loss - hedged items have affected profit or loss \u00a0
\n\t\t\t\t\t-8.9 \u00a0
\n\t\t\t\t\t0.0 \u00a0
\n\t\t\t\t\t-68.3 \u00a0
\n\t\t\t\t\t-77.2 \u00a0
\n\t\t\t\t\tIncome tax related to amounts reclassified to profit or loss \u00a0
\n\t\t\t\t\t1.8 \u00a0
\n\t\t\t\t\t0.0 \u00a0
\n\t\t\t\t\t16.6 \u00a0
\n\t\t\t\t\t18.4 \u00a0
\n\t\t\t\t\tExchange rate adjustments \u00a0
\n\t\t\t\t\t-0.2 \u00a0
\n\t\t\t\t\t0.0 \u00a0
\n\t\t\t\t\t-0.5 \u00a0
\n\t\t\t\t\t-0.7 \u00a0
\n\t\t\t\t\tBalance at 31 December 2021 \u00a0
\n\t\t\t\t\t-3.3 \u00a0
\n\t\t\t\t\t0.6 \u00a0
\n\t\t\t\t\t184.7 \u00a0
\n\t\t\t\t\t182.0 \u00a0
\n\t\t\t\t\tGain/(loss) arising from changes in fair value of hedging instruments during the period \u00a0
\n\t\t\t\t\t0.9 \u00a0
\n\t\t\t\t\t6.7 \u00a0
\n\t\t\t\t\t72.9 \u00a0
\n\t\t\t\t\t80.5 \u00a0
\n\t\t\t\t\tIncome tax related to gains/(losses) recognized in other comprehensive income \u00a0
\n\t\t\t\t\tduring the period \u00a0
\n\t\t\t\t\t-0.2 \u00a0
\n\t\t\t\t\t-1.5 \u00a0
\n\t\t\t\t\t-10.2 \u00a0
\n\t\t\t\t\t-11.9 \u00a0
\n\t\t\t\t\t(Gain)/loss reclassified to profit or loss - hedged items have affected profit or loss \u00a0
\n\t\t\t\t\t3.0 \u00a0
\n\t\t\t\t\t0.0 \u00a0
\n\t\t\t\t\t-125.8 \u00a0
\n\t\t\t\t\t-122.8 \u00a0
\n\t\t\t\t\tIncome tax related to amounts reclassified to profit or loss \u00a0
\n\t\t\t\t\t-0.6 \u00a0
\n\t\t\t\t\t0.0 \u00a0
\n\t\t\t\t\t27.5 \u00a0
\n\t\t\t\t\t26.9 \u00a0
\n\t\t\t\t\tExchange rate adjustments \u00a0
\n\t\t\t\t\t-0.1 \u00a0
\n\t\t\t\t\t0.0 \u00a0
\n\t\t\t\t\t-9.0 \u00a0
\n\t\t\t\t\t-9.1 \u00a0
\n\t\t\t\t\tBalance at 31 December 2022 \u00a0
\n\t\t\t\t\t-0.3 \u00a0
\n\t\t\t\t\t5.8 \u00a0
\n\t\t\t\t\t140.1 \u00a0
\n\t\t\t\t\t145.6 \u00a0
Foreign \u00a0
\n\t\t\t\t\texchange Interest
rate Commodity \u00a0
\n\t\t\t\t\tAmounts in EURm \u00a0
\n\t\t\t\t\trisk hedging
risk hedging
risk hedging \u00a0
\n\t\t\t\t\tTotal \u00a0
\n\t\t\t\t\tBalance at 1 January 2021 \u00a0
\n\t\t\t\t\t0.0 \u00a0
\n\t\t\t\t\t0.0 \u00a0
\n\t\t\t\t\t0.0 \u00a0
\n\t\t\t\t\t0.0 \u00a0
\n\t\t\t\t\tLoss arising from changes in fair value of hedging instruments \u00a0
\n\t\t\t\t\t-1.4 \u00a0
\n\t\t\t\t\t0.0 \u00a0
\n\t\t\t\t\t-23.4 \u00a0
\n\t\t\t\t\t-24.8 \u00a0
\n\t\t\t\t\tIncome tax related to loss recognized in other comprehensive income \u00a0
\n\t\t\t\t\t0.4 \u00a0
\n\t\t\t\t\t0.0 \u00a0
\n\t\t\t\t\t5.8 \u00a0
\n\t\t\t\t\t6.2 \u00a0
\n\t\t\t\t\tLoss reclassified to profit or loss - hedged items have affected profit or loss \u00a0
\n\t\t\t\t\t0.0 \u00a0
\n\t\t\t\t\t0.0 \u00a0
\n\t\t\t\t\t3.3 \u00a0
\n\t\t\t\t\t3.3 \u00a0
\n\t\t\t\t\tIncome tax related to amounts reclassified to profit or loss \u00a0
\n\t\t\t\t\t0.0 \u00a0
\n\t\t\t\t\t0.0 \u00a0
\n\t\t\t\t\t-0.8 \u00a0
\n\t\t\t\t\t-0.8 \u00a0
\n\t\t\t\t\tExchange rate adjustments \u00a0
\n\t\t\t\t\t0.0 \u00a0
\n\t\t\t\t\t0.0 \u00a0
\n\t\t\t\t\t-0.1 \u00a0
\n\t\t\t\t\t-0.1 \u00a0
\n\t\t\t\t\tBalance at 31 December 2021 \u00a0
\n\t\t\t\t\t-1.0 \u00a0
\n\t\t\t\t\t0.0 \u00a0
\n\t\t\t\t\t-15.2 \u00a0
\n\t\t\t\t\t-16.2 \u00a0
\n\t\t\t\t\tGain/(loss) arising from changes in fair value of hedging instruments during the period \u00a0
\n\t\t\t\t\t1.3 \u00a0
\n\t\t\t\t\t0.0 \u00a0
\n\t\t\t\t\t0.4 \u00a0
\n\t\t\t\t\t1.7 \u00a0
\n\t\t\t\t\tIncome tax related to gains/(losses) recognized in other comprehensive income \u00a0
\n\t\t\t\t\tduring the period \u00a0
\n\t\t\t\t\t-0.3 \u00a0
\n\t\t\t\t\t0.0 \u00a0
\n\t\t\t\t\t-0.1 \u00a0
\n\t\t\t\t\t-0.4 \u00a0
\n\t\t\t\t\t(Gain)/loss reclassified to profit or loss - hedged items have affected profit or loss \u00a0
\n\t\t\t\t\t0.0 \u00a0
\n\t\t\t\t\t0.0 \u00a0
\n\t\t\t\t\t2.9 \u00a0
\n\t\t\t\t\t2.9 \u00a0
\n\t\t\t\t\tIncome tax related to amounts reclassified to profit or loss \u00a0
\n\t\t\t\t\t0.0 \u00a0
\n\t\t\t\t\t0.0 \u00a0
\n\t\t\t\t\t-0.7 \u00a0
\n\t\t\t\t\t-0.7 \u00a0
\n\t\t\t\t\tExchange rate adjustments \u00a0
\n\t\t\t\t\t0.0 \u00a0
\n\t\t\t\t\t0.0 \u00a0
\n\t\t\t\t\t0.0 \u00a0
\n\t\t\t\t\t0.0 \u00a0
\n\t\t\t\t\tBalance at 31 December 2022 \u00a0
\n\t\t\t\t\t0.0 \u00a0
\n\t\t\t\t\t0.0 \u00a0
\n\t\t\t\t\t-12.7 \u00a0
\n\t\t\t\t\t-12.7 \u00a0
\n\t\t\t\t\tOf the fair values recorded in other comprehensive income, EUR 0.6m is expected to be recorded in Revenue (EUR 3.6m in 2021) and EUR 132.3m \u00a0
\n\t\t\t\t\t(EUR 161.5m in 2021) is expected to be recorded in Cost of raw materials, consumables and goods for resale. \u00a0
Categories of financial instruments \u00a0
\n\t\t\t\t\tAmounts in EURm \u00a0
\n\t\t\t\t\t2022 \u00a0
\n\t\t\t\t\t2021 \u00a0
\n\t\t\t\t\tFinancial assets \u00a0
\n\t\t\t\t\tMeasured at amortized costs: \u00a0
\n\t\t\t\t\tReceivables \u00a0
\n\t\t\t\t\t273.2 \u00a0
\n\t\t\t\t\t308.8 \u00a0
\n\t\t\t\t\tContract assets \u00a0
\n\t\t\t\t\t98.2 \u00a0
\n\t\t\t\t\t97.3 \u00a0
\n\t\t\t\t\tInterest bearing receivables \u00a0
\n\t\t\t\t\t0.2 \u00a0
\n\t\t\t\t\t0.2 \u00a0
\n\t\t\t\t\tMeasured at fair value through profit /loss: \u00a0
\n\t\t\t\t\tOther investments and receivables \u00a0
\n\t\t\t\t\t0.8 \u00a0
\n\t\t\t\t\t0.8 \u00a0
\n\t\t\t\t\tCash at bank and in hand \u00a0
\n\t\t\t\t\t258.5 \u00a0
\n\t\t\t\t\t200.5 \u00a0
\n\t\t\t\t\tDerivative financial instruments \u00a0
\n\t\t\t\t\t249.3 \u00a0
\n\t\t\t\t\t220.1 \u00a0
\n\t\t\t\t\tFinancial liabilities \u00a0
\n\t\t\t\t\tMeasured at amortized costs: \u00a0
\n\t\t\t\t\tTrade payables and other liabilities \u00a0
\n\t\t\t\t\t502.1 \u00a0
\n\t\t\t\t\t497.6 \u00a0
\n\t\t\t\t\tInterest-bearing loans and borrowings \u00a0
\n\t\t\t\t\t195.8 \u00a0
\n\t\t\t\t\t213.9 \u00a0
\n\t\t\t\t\tMeasured at fair value through profit /loss: \u00a0
\n\t\t\t\t\tDerivative financial instruments \u00a0
\n\t\t\t\t\t76.6 \u00a0
\n\t\t\t\t\t14.6 \u00a0
\n\t\t\t\t\tIn the table above, financial instruments are presented in the categories \u00a0
\n\t\t\t\t\twhich determine, how they will be recognized in the financial statements. \u00a0
Fair value changes of financial instruments used to hedge the change in \u00a0
\n\t\t\t\t\tfair value of an asset or liability is recorded in the income statement in the \u00a0
\n\t\t\t\t\tsame line item as the changes in value of the hedged asset or liability is \u00a0
\n\t\t\t\t\trecognized in. \u00a0
\n\t\t\t\t\tHedging of currency risk is not performed for net assets (equity) in \u00a0
\n\t\t\t\t\tforeign subsidiaries. Gains and losses relating to unhedged net assets \u00a0
\n\t\t\t\t\tin foreign subsidiaries are accounted for directly in other comprehensive \u00a0
\n\t\t\t\t\tincome. \u00a0
Measuring fair value \u00a0
\n\t\t\t\t\tFinancial instruments measured at fair value in the balance sheet are \u00a0
\n\t\t\t\t\tdesignated as belonging to one of the following three categories (the \u2018fair \u00a0
\n\t\t\t\t\tvalue hierarchy\u2019): \u00a0
\n\t\t\t\t\tLevel 1:
Listed prices (unadjusted) in active markets for identical assets \u00a0
\n\t\t\t\t\tand liabilities \u00a0
\n\t\t\t\t\tLevel 2:
Input, other than listed prices on Level 1, which is observable for \u00a0
\n\t\t\t\t\tthe asset or liability either directly (as prices) or indirectly (derived \u00a0
\n\t\t\t\t\tfrom prices) \u00a0
\n\t\t\t\t\tLevel 3:
Input for the asset or liability which is not based on observable \u00a0
\n\t\t\t\t\tmarket data (non-observable input) \u00a0
\n\t\t\t\t\tFinancial instruments measured at fair value consist of derivative financial \u00a0
\n\t\t\t\t\tinstruments. The fair value at 31 December 2022 and 2021 of NKT \u00a0
\n\t\t\t\t\tGroup\u2019s forward transactions are measured in accordance with Level 2 \u00a0
\n\t\t\t\t\tas the fair value is based on official exchange rates and forward rates at \u00a0
\n\t\t\t\t\tthe balance sheet date. \u00a0
\n\t\t\t\t\tNo financial instruments was moved from one level to another in the year \u00a0
\n\t\t\t\t\t(no move in 2021 either). \u00a0
Liquidity risks \u00a0
\n\t\t\t\t\tIt is NKT Group\u2019s policy to maintain adequate liquidity resources to im- \u00a0
\n\t\t\t\t\tplement planned operating activities and to be able to operate effectively \u00a0
\n\t\t\t\t\tin the event of unforeseen fluctuations in liquidity. NKT Group\u2019s liquidity \u00a0
\n\t\t\t\t\tresources consist of cash, cash equivalents and undrawn committed \u00a0
\n\t\t\t\t\tcredit facilities (RCF). \u00a0
\n\t\t\t\t\tThe current RCF of EUR 200m has in 2022 been extended with one \u00a0
\n\t\t\t\t\tyear, so it matures in November 2025. The mortgage loan portfolio \u00a0
\n\t\t\t\t\tmatures in 2032 and 2033. \u00a0
\n\t\t\t\t\tThe RCF is the only financing instrument subject to financial covenants. \u00a0
\n\t\t\t\t\tNKT Group\u2019s financing contains change of control clauses, which comes \u00a0
\n\t\t\t\t\tinto effect if a shareholder or shareholder group gains control over NKT \u00a0
\n\t\t\t\t\tA/S or if NKT A/S is no longer listed at Nasdaq Copenhagen. \u00a0
\n\t\t\t\t\tIt is Group Management\u2019s opinion, that the financial headroom is suffi- \u00a0
\n\t\t\t\t\tcient to manage the level of activity expected in 2023 for the NKT Group. \u00a0
Liquidity resources \u00a0
\n\t\t\t\t\tAmounts in EURm \u00a0
\n\t\t\t\t\t2022 \u00a0
\n\t\t\t\t\t2021 \u00a0
\n\t\t\t\t\tCommitted facilities (>3 years) \u00a0
\n\t\t\t\t\t0.0 \u00a0
\n\t\t\t\t\t0.0 \u00a0
\n\t\t\t\t\tCommitted facilities (1-3 years) \u00a0
\n\t\t\t\t\t200.0 \u00a0
\n\t\t\t\t\t200.0 \u00a0
\n\t\t\t\t\tCommitted facilities (<1 year) \u00a0
\n\t\t\t\t\t0.0 \u00a0
\n\t\t\t\t\t0.0 \u00a0
\n\t\t\t\t\tTotal commited facilities \u00a0
\n\t\t\t\t\t200.0 \u00a0
\n\t\t\t\t\t200.0 \u00a0
\n\t\t\t\t\tUncommitted facilities \u00a0
\n\t\t\t\t\t0.0 \u00a0
\n\t\t\t\t\t0.0 \u00a0
\n\t\t\t\t\tTotal facilities \u00a0
\n\t\t\t\t\t200.0 \u00a0
\n\t\t\t\t\t200.0 \u00a0
\n\t\t\t\t\tCash \u00a0
\n\t\t\t\t\t258.5 \u00a0
\n\t\t\t\t\t200.5 \u00a0
\n\t\t\t\t\tUtilized facilities \u00a0
\n\t\t\t\t\t-9.0 \u00a0
\n\t\t\t\t\t-5.4 \u00a0
\n\t\t\t\t\tCash classified as assets held for sale \u00a0
\n\t\t\t\t\t3.7 \u00a0
\n\t\t\t\t\t0.0 \u00a0
\n\t\t\t\t\tLiquidity recources \u00a0
\n\t\t\t\t\t453.2 \u00a0
\n\t\t\t\t\t395.1 \u00a0
Credit risks \u00a0
\n\t\t\t\t\tNKT\u2019s credit risks relate partly to receivables, contract assets and cash \u00a0
\n\t\t\t\t\tat bank and in hand, and partly to derivative financial instruments with \u00a0
\n\t\t\t\t\tpositive fair value. The maximum credit risk attached to financial assets \u00a0
\n\t\t\t\t\tcorrespond to the values recognized in the balance sheet. \u00a0
\n\t\t\t\t\tNKT has no material risks relating to a single customer or partner. NKT\u2019s \u00a0
\n\t\t\t\t\tpolicy for acceptance of credit risks entails ongoing monitoring and credit \u00a0
\n\t\t\t\t\trating of important customers and other partners. NKT obtains prepay- \u00a0
\n\t\t\t\t\tments or bank guarantees from customers, when considered needed. \u00a0
\n\t\t\t\t\tThus, insurance cover and similar measures to hedge receivables are \u00a0
\n\t\t\t\t\trarely applied as NKT historically has had only few material losses. \u00a0
6.1 Acquisition and divestment of businesses \u00a0
\n\t\t\t\t\tAmounts in EURm \u00a0
\n\t\t\t\t\t2022 \u00a0
\n\t\t\t\t\tAcquisitions \u00a0
\n\t\t\t\t\tNon-current assets \u00a0
\n\t\t\t\t\t20.9 \u00a0
\n\t\t\t\t\tCurrent assets \u00a0
\n\t\t\t\t\t6.7 \u00a0
\n\t\t\t\t\tNon-current liabilities \u00a0
\n\t\t\t\t\t-7.3 \u00a0
\n\t\t\t\t\tCurrent liabilities \u00a0
\n\t\t\t\t\t-3.3 \u00a0
\n\t\t\t\t\tAcquired net assets \u00a0
\n\t\t\t\t\t17.0 \u00a0
\n\t\t\t\t\tGain on business acquisition \u00a0
\n\t\t\t\t\t-1.2 \u00a0
\n\t\t\t\t\tPurchase price \u00a0
\n\t\t\t\t\t15.8 \u00a0
\n\t\t\t\t\tAcquired cash and cash equivalents \u00a0
\n\t\t\t\t\t-0.1 \u00a0
\n\t\t\t\t\tCash flow used for acquisition \u00a0
\n\t\t\t\t\t15.7 \u00a0
Acquisitions: \u00a0
\n\t\t\t\t\tOn 10 January 2022, NKT acquired 100% of the \u00a0
\n\t\t\t\t\tshares in Ventcroft Ltd, a UK based company. The \u00a0
\n\t\t\t\t\tconsiderations were transferred in full and there is no \u00a0
\n\t\t\t\t\tcontingent considerations. Ventcroft Ltd are special- \u00a0
\n\t\t\t\t\tized in fire-resistant building wires and low-voltage \u00a0
\n\t\t\t\t\tpower cables, and the acquisition was made in order \u00a0
\n\t\t\t\t\tto strengthen the product portfolio and is an important \u00a0
\n\t\t\t\t\tstep in the NKT strategy to grow the business. Vent- \u00a0
\n\t\t\t\t\tcroft Ltd will be a part of the Applications segment. \u00a0
The acquisition consists of net assets of EUR 17.0m \u00a0
\n\t\t\t\t\tpredominantly related to tangible assets and working \u00a0
\n\t\t\t\t\tcapital. No intangible assets have been recognized \u00a0
\n\t\t\t\t\tfrom the acquisition. As the purchase price is below \u00a0
\n\t\t\t\t\tthe net asset value, as well as below the equity value \u00a0
\n\t\t\t\t\tof the company at the time of acquisition, a gain \u00a0
\n\t\t\t\t\tof EUR 1.2m has been recognized in the Income \u00a0
\n\t\t\t\t\tStatement in the line Other Operating Income. \u00a0
\n\t\t\t\t\tAcquisition-related costs of EUR 0.2m are recognized \u00a0
\n\t\t\t\t\tin Other costs etc. in the income statement of the \u00a0
\n\t\t\t\t\tApplications segment. \u00a0
\n\t\t\t\t\tFrom the acquisition date to 31 December 2022, \u00a0
\n\t\t\t\t\tVentcroft Ltd contributed positively to the results with \u00a0
a revenue of EUR 22.2m and a profit of EUR 0.4m. \u00a0
\n\t\t\t\t\tHad the acquisition occurred on 1 January 2022, \u00a0
\n\t\t\t\t\tthe impact for the period until 31 December 2022 on \u00a0
\n\t\t\t\t\trevenue and profit would in all material aspects have \u00a0
\n\t\t\t\t\tbeen similar. \u00a0
\n\t\t\t\t\tThere were no acquisitions in 2021. \u00a0
Divestments: \u00a0
\n\t\t\t\t\tOn 10 March 2022 NKT Photonics divested its \u00a0
\n\t\t\t\t\tsensing business, LIOS. The proceeds from the \u00a0
\n\t\t\t\t\tsale were EUR 19.7m, and the gain was EUR 8.0m, \u00a0
\n\t\t\t\t\twhich is recognized in Other operating income in the \u00a0
\n\t\t\t\t\tincome statement. The business was a part of the \u00a0
\n\t\t\t\t\tNKT Photonics segment prior to the divestment, and \u00a0
\n\t\t\t\t\tthe gain is accordingly included in this segment, why \u00a0
\n\t\t\t\t\treference is made to note 6.3. \u00a0
On 15 January 2021, NKT divested the recycling \u00a0
\n\t\t\t\t\tbusiness in Stenlille, Denmark. The proceeds from \u00a0
\n\t\t\t\t\tthe sale was EUR 2.1m and the gain was EUR 1.8m. \u00a0
\n\t\t\t\t\tThe business was a part of the Applications segment \u00a0
\n\t\t\t\t\tprior to the divestment, and the gain is accordingly \u00a0
\n\t\t\t\t\tincluded in this segment. \u00a0
6.2 Group companies \u00a0
\n\t\t\t\t\tGroup companies \u00a0
\n\t\t\t\t\tDomicile \u00a0
\n\t\t\t\t\tNKT Group \u00a0
\n\t\t\t\t\tDenmark \u00a0
\n\t\t\t\t\tNKT Cables Group A/S \u00a0
\n\t\t\t\t\tDenmark \u00a0
\n\t\t\t\t\tNKT (Denmark) A/S \u00a0
\n\t\t\t\t\tDenmark \u00a0
\n\t\t\t\t\tNKT Invest A/S \u00a0
\n\t\t\t\t\tDenmark \u00a0
\n\t\t\t\t\tEurope \u00a0
\n\t\t\t\t\tNKT Group GmbH1 \u00a0
\n\t\t\t\t\tGermany \u00a0
\n\t\t\t\t\tNKT Verwaltungs GmbH \u00a0
\n\t\t\t\t\tGermany \u00a0
\n\t\t\t\t\tNKT GmbH & Co. KG \u00a0
\n\t\t\t\t\tGermany \u00a0
\n\t\t\t\t\tNKT GmbH \u00a0
\n\t\t\t\t\tGermany \u00a0
\n\t\t\t\t\tZweite NKT GmbH \u00a0
\n\t\t\t\t\tGermany \u00a0
\n\t\t\t\t\tNKT s.r.o. \u00a0
\n\t\t\t\t\tCzech Republic \u00a0
\n\t\t\t\t\tNKT (Ib\u00e9rica) S.L. \u00a0
\n\t\t\t\t\tSpain \u00a0
\n\t\t\t\t\tNKT (Sweden) AB \u00a0
\n\t\t\t\t\tSweden \u00a0
\n\t\t\t\t\tNKT HV Cables AB \u00a0
\n\t\t\t\t\tSweden \u00a0
\n\t\t\t\t\tNKT AS \u00a0
\n\t\t\t\t\tNorway \u00a0
\n\t\t\t\t\tNKT HVC AS \u00a0
\n\t\t\t\t\tNorway \u00a0
\n\t\t\t\t\tNKT (U.K.) Ltd. \u00a0
\n\t\t\t\t\tUK \u00a0
\n\t\t\t\t\tNKT HVC Ltd. \u00a0
\n\t\t\t\t\tUK \u00a0
\n\t\t\t\t\tVentcroft Ltd. \u00a0
\n\t\t\t\t\tUK \u00a0
\n\t\t\t\t\tNKT S.A. \u00a0
\n\t\t\t\t\tPoland \u00a0
\n\t\t\t\t\tNKT HVC B.V. \u00a0
\n\t\t\t\t\tNetherlands \u00a0
\n\t\t\t\t\tNKT HV Cables GmbH \u00a0
\n\t\t\t\t\tSwitzerland \u00a0
\n\t\t\t\t\tNKT Lithuania, UAB \u00a0
\n\t\t\t\t\tLithuania \u00a0
\n\t\t\t\t\tAmerica \u00a0
\n\t\t\t\t\tNKT, Inc \u00a0
\n\t\t\t\t\tUS \u00a0
Group companies \u00a0
\n\t\t\t\t\tDomicile \u00a0
\n\t\t\t\t\tMiddle East \u00a0
\n\t\t\t\t\tNKT Middle East DMCC \u00a0
\n\t\t\t\t\tDubai \u00a0
\n\t\t\t\t\tAsia/Pacific \u00a0
\n\t\t\t\t\tNKT Pty Ltd \u00a0
\n\t\t\t\t\tAustralia \u00a0
\n\t\t\t\t\tNKT South Asia Private Limited \u00a0
\n\t\t\t\t\tIndia \u00a0
\n\t\t\t\t\tNKT Operations India Private Limited \u00a0
\n\t\t\t\t\tIndia \u00a0
\n\t\t\t\t\tNKT Photonics Group \u00a0
\n\t\t\t\t\tDenmark \u00a0
\n\t\t\t\t\tNKT Photonics A/S \u00a0
\n\t\t\t\t\tDenmark \u00a0
\n\t\t\t\t\tEurope \u00a0
\n\t\t\t\t\tNKT Photonics Technology GmbH \u00a0
\n\t\t\t\t\tGermany \u00a0
\n\t\t\t\t\tAdvanced Laserdiode Systems A.L.S. GmbH
Germany \u00a0
\n\t\t\t\t\tNKT Photonics Switzerland GmbH \u00a0
\n\t\t\t\t\tSwitzerland \u00a0
\n\t\t\t\t\tNKT Photonics Holding Ltd \u00a0
\n\t\t\t\t\tUK \u00a0
\n\t\t\t\t\tNKT Photonics Ltd \u00a0
\n\t\t\t\t\tUK \u00a0
\n\t\t\t\t\tNKT Photonics AB \u00a0
\n\t\t\t\t\tSweden \u00a0
\n\t\t\t\t\tAmerica \u00a0
\n\t\t\t\t\tNKT Photonics Inc. \u00a0
\n\t\t\t\t\tUS \u00a0
\n\t\t\t\t\tAsia/Pacific \u00a0
\n\t\t\t\t\tNKT Photonics (Zhenzhen) Co., Ltd. \u00a0
\n\t\t\t\t\tChina \u00a0
\n\t\t\t\t\tRepublic of \u00a0
\n\t\t\t\t\tNKT Photonics Korea Co., Ltd. \u00a0
\n\t\t\t\t\tKorea \u00a0
\n\t\t\t\t\tFianium Asia Ltd. \u00a0
\n\t\t\t\t\tHong Kong \u00a0
All Group companies are wholly owned. \u00a0
\n\t\t\t\t\tCompanies without material interest and dormant companies are omitted from the list. \u00a0
\n\t\t\t\t\t1 The Group has applied Section 264b of the German Commercial Code (\u201cHandelsgesetzbuch\u201d) by which \u00a0
\n\t\t\t\t\tNKT Group GmbH is exempted from filing local financial statement. \u00a0
6.3 Discontinued operations and assets held for sale \u00a0
\n\t\t\t\t\tAmounts in EURm \u00a0
\n\t\t\t\t\t2022 \u00a0
\n\t\t\t\t\t2021 \u00a0
\n\t\t\t\t\tProfit for the year \u2013 discontinued operations \u00a0
\n\t\t\t\t\tRevenue \u00a0
\n\t\t\t\t\t86.5 \u00a0
\n\t\t\t\t\t80.1 \u00a0
\n\t\t\t\t\tCosts and other income, net \u00a0
\n\t\t\t\t\t-79.9 \u00a0
\n\t\t\t\t\t-72.6 \u00a0
\n\t\t\t\t\tGain from sale of business \u00a0
\n\t\t\t\t\t8.0 \u00a0
\n\t\t\t\t\t0.0 \u00a0
\n\t\t\t\t\tEarnings before interest, tax, depreciation and amortization (EBITDA) \u00a0
\n\t\t\t\t\t14.6 \u00a0
\n\t\t\t\t\t7.5 \u00a0
\n\t\t\t\t\tDepreciation and amortization \u00a0
\n\t\t\t\t\t-6.6 \u00a0
\n\t\t\t\t\t-14.6 \u00a0
\n\t\t\t\t\tEarnings before interest and tax (EBIT) \u00a0
\n\t\t\t\t\t8.0 \u00a0
\n\t\t\t\t\t-7.1 \u00a0
\n\t\t\t\t\tFinancial items, net \u00a0
\n\t\t\t\t\t0.1 \u00a0
\n\t\t\t\t\t-4.2 \u00a0
\n\t\t\t\t\tEarnings before tax (EBT) \u00a0
\n\t\t\t\t\t8.1 \u00a0
\n\t\t\t\t\t-11.3 \u00a0
\n\t\t\t\t\tTax \u00a0
\n\t\t\t\t\t-0.8 \u00a0
\n\t\t\t\t\t3.5 \u00a0
\n\t\t\t\t\tNet result - discontinued operations \u00a0
\n\t\t\t\t\t7.3 \u00a0
\n\t\t\t\t\t-7.8 \u00a0
\n\t\t\t\t\tNKT' share hereof \u00a0
\n\t\t\t\t\t7.3 \u00a0
\n\t\t\t\t\t-7.8 \u00a0
\n\t\t\t\t\tBasic earnings - discontinued operations, EUR, per share (EPS) \u00a0
\n\t\t\t\t\t0.2 \u00a0
\n\t\t\t\t\t-0.2 \u00a0
\n\t\t\t\t\tDiluted earnings - discuntinued operations, EUR, per share (EPS-D) \u00a0
\n\t\t\t\t\t0.2 \u00a0
\n\t\t\t\t\t-0.2 \u00a0
\n\t\t\t\t\tEarnings before interest, tax, depreciation and amortization (EBITDA) \u00a0
\n\t\t\t\t\t14.6 \u00a0
\n\t\t\t\t\t7.5 \u00a0
\n\t\t\t\t\tOne-off items \u00a0
\n\t\t\t\t\t5.8 \u00a0
\n\t\t\t\t\t0.0 \u00a0
\n\t\t\t\t\tOperational EBITDA \u00a0
\n\t\t\t\t\t8.8 \u00a0
\n\t\t\t\t\t7.5 \u00a0
\n\t\t\t\t\tOne-off items for discontinued operations in 2022 comprise costs associated \u00a0
\n\t\t\t\t\twith the divestment of EUR 2.2m and the accounting gain of EUR 8.0m related \u00a0
\n\t\t\t\t\tto the divestment of the LIOS sensing business recognized in Q1 2022. \u00a0
\n\t\t\t\t\tCash flows from discontinued operations \u00a0
\n\t\t\t\t\tCash flow from operating activities \u00a0
\n\t\t\t\t\t-22.1 \u00a0
\n\t\t\t\t\t-1.0 \u00a0
\n\t\t\t\t\tCash flow from investing activities \u00a0
\n\t\t\t\t\t2.5 \u00a0
\n\t\t\t\t\t-14.3 \u00a0
\n\t\t\t\t\tCash flow from financing activities \u00a0
\n\t\t\t\t\t21.5 \u00a0
\n\t\t\t\t\t15.6 \u00a0
\n\t\t\t\t\tNet cash flow from discontinued operations \u00a0
\n\t\t\t\t\t1.9 \u00a0
\n\t\t\t\t\t0.3 \u00a0
Amounts in EURm \u00a0
\n\t\t\t\t\t2022 \u00a0
\n\t\t\t\t\t2021 \u00a0
\n\t\t\t\t\tBalance sheet items \u00a0
\n\t\t\t\t\tNon-current assets \u00a0
\n\t\t\t\t\t100.7 \u00a0
\n\t\t\t\t\t0.0 \u00a0
\n\t\t\t\t\tCurrent assets \u00a0
\n\t\t\t\t\t63.3 \u00a0
\n\t\t\t\t\t0.0 \u00a0
\n\t\t\t\t\tAssets held for sale \u00a0
\n\t\t\t\t\t164.1 \u00a0
\n\t\t\t\t\t0.0 \u00a0
\n\t\t\t\t\tNon-current liabilities \u00a0
\n\t\t\t\t\t13.3 \u00a0
\n\t\t\t\t\t0.0 \u00a0
\n\t\t\t\t\tCurrent liabilities \u00a0
\n\t\t\t\t\t22.4 \u00a0
\n\t\t\t\t\t0.0 \u00a0
\n\t\t\t\t\tLiabilities associated with assets held for sale \u00a0
\n\t\t\t\t\t35.6 \u00a0
\n\t\t\t\t\t0.0 \u00a0
\n\t\t\t\t\tIntangible assets held for sale related to NKT Photonics amount to EUR 69.7m and property, plant and equip- \u00a0
\n\t\t\t\t\tment amount to EUR 30.7m. In connection with the classification to discontinued operations and assets held \u00a0
\n\t\t\t\t\tfor sale no impairment was recognized. \u00a0
Accounting policy \u00a0
\n\t\t\t\t\tDiscontinued operations represent a separate major line of businesses intended to be disposed within 12 \u00a0
\n\t\t\t\t\tmonths. The results of discontinued operations are presented separately in the income statement and the cash \u00a0
\n\t\t\t\t\tflow statement with restatement of comparative figures. \u00a0
\n\t\t\t\t\tAssets and liabilities held for sale from discontinued operations are presented as separate items in the balance \u00a0
\n\t\t\t\t\tsheet with no restatement of comparative figures. Elimination between continuing and discontinued operations \u00a0
\n\t\t\t\t\tis presented to reflect continuing operations as post-separation, which includes elimination of interest and \u00a0
\n\t\t\t\t\tloans. \u00a0
\n\t\t\t\t\tAssets and liabilities from discontinued operations and assets held for sale are measured at the lower of carry- \u00a0
\n\t\t\t\t\ting amount and fair value less cost of disposal. Impairment test is performed immediately before classification \u00a0
\n\t\t\t\t\tas held for sale. Non-current assets held for sale are not depreciated or amortized. \u00a0
7.1 Fees to the auditor elected at \u00a0
\n\t\t\t\t\tthe Annual General Meeting \u00a0
\n\t\t\t\t\tAmounts in EURm \u00a0
\n\t\t\t\t\t2022 \u00a0
\n\t\t\t\t\t2021 \u00a0
\n\t\t\t\t\tDeloitte: \u00a0
\n\t\t\t\t\tStatutory audit \u00a0
\n\t\t\t\t\t1.2 \u00a0
\n\t\t\t\t\t1.0 \u00a0
\n\t\t\t\t\tOther assurance \u00a0
\n\t\t\t\t\t0.0 \u00a0
\n\t\t\t\t\t0.1 \u00a0
\n\t\t\t\t\tOther service \u00a0
\n\t\t\t\t\t0.0 \u00a0
\n\t\t\t\t\t0.0 \u00a0
\n\t\t\t\t\tTotal \u00a0
\n\t\t\t\t\t1.2 \u00a0
\n\t\t\t\t\t1.1 \u00a0
\n\t\t\t\t\tIn 2022, audit fee for other services of EUR 0.1m related to issue of the \u00a0
\n\t\t\t\t\tnew hybrid capital has been reported directly to retained earnings on the \u00a0
\n\t\t\t\t\tequity. This amount is not included in the table above. \u00a0
7.2 Events after the balance sheet date \u00a0
\n\t\t\t\t\tManagement is not aware of any subsequent matters that could be of \u00a0
\n\t\t\t\t\tmaterial importance to NKT Group\u2019s financial position. \u00a0
7.3 Contingent assets and liabilities and pledges \u00a0
\n\t\t\t\t\tThe NKT Group is a party to various disputes and inquiries from authori- \u00a0
\n\t\t\t\t\tties whose outcome is not expected to materially affect profit for the year \u00a0
\n\t\t\t\t\tand the financial position. In connection with disposal of companies in \u00a0
\n\t\t\t\t\tprevious years, guarantees have been provided which are not expected \u00a0
\n\t\t\t\t\tto materially affect net result. Further, NKT is a party to various insurance \u00a0
\n\t\t\t\t\tclaims as well as customer claims whose outcome is still uncertain and \u00a0
\n\t\t\t\t\tnot recognized in the financial statement at the balance sheet day. \u00a0
\n\t\t\t\t\tNKT Group is jointly liable for Danish corporate taxes on dividend, inter- \u00a0
\n\t\t\t\t\test and royalties together with Nilfisk up until the demerger in October \u00a0
\n\t\t\t\t\t2017. In a few cases the NKT Group\u2019s foreign companies are subject to \u00a0
\n\t\t\t\t\tspecial tax schemes to which certain conditions are attached. As at 31 \u00a0
\n\t\t\t\t\tDecember 2022 these conditions were complied with. \u00a0
\n\t\t\t\t\tGuarantees \u00a0
\n\t\t\t\t\tAs part of our commercial activities NKT has provided guarantees mainly \u00a0
\n\t\t\t\t\trelating to high-voltage projects, which is to cover for the risk relating to \u00a0
\n\t\t\t\t\tour performance inherent in such projects, the quality and delays. \u00a0
\n\t\t\t\t\tAt 31 December 2022 the value of issued guarantees was EUR \u00a0
\n\t\t\t\t\t1,231.2m (EUR 1,014.6m in 2021). At the balance sheet date none \u00a0
\n\t\t\t\t\tof the issued guarantees are expected to materialize. \u00a0
Pledges \u00a0
\n\t\t\t\t\tNon-current assets with carrying amount of EUR 388.0m (EUR 368.8m \u00a0
\n\t\t\t\t\tin 2021) have been pledged as security for mortgage loans of total EUR \u00a0
\n\t\t\t\t\t146.0m (EUR 152.1m in 2021). \u00a0
\n\t\t\t\t\tAmounts in EUR \u00a0
\n\t\t\t\t\t2022 \u00a0
\n\t\t\t\t\t2021 \u00a0
\n\t\t\t\t\tCarrying amount of assets pledged \u00a0
\n\t\t\t\t\tas collateral for credit institutions: \u00a0
\n\t\t\t\t\tLand and buildings \u00a0
\n\t\t\t\t\t197.0 \u00a0
\n\t\t\t\t\t207.0 \u00a0
\n\t\t\t\t\tPlant and machinery \u00a0
\n\t\t\t\t\t50.9 \u00a0
\n\t\t\t\t\t47.7 \u00a0
\n\t\t\t\t\tProperty, plant and equipment under \u00a0
\n\t\t\t\t\tconstruction \u00a0
\n\t\t\t\t\t140.1 \u00a0
\n\t\t\t\t\t114.1 \u00a0
\n\t\t\t\t\tTotal \u00a0
\n\t\t\t\t\t388.0 \u00a0
\n\t\t\t\t\t368.8 \u00a0
\n\t\t\t\t\tLiabilities related to pledged assets \u00a0
\n\t\t\t\t\t146.0 \u00a0
\n\t\t\t\t\t152.1 \u00a0
Significant judgments \u00a0
\n\t\t\t\t\tDisclosures for contingent assets and liabilities and when they must \u00a0
\n\t\t\t\t\tbe recognized is derived from evaluations of the expected outcome of \u00a0
\n\t\t\t\t\tthe individual issues. These evaluations are based on legal opinions of \u00a0
\n\t\t\t\t\tthe agreements contracted, which in significant instances also include \u00a0
\n\t\t\t\t\topinions obtained from external advisors, including lawyers. \u00a0
",
"dimensions": {
"concept": "ifrs-full:DisclosureOfNotesAndOtherExplanatoryInformationExplanatory",
"language": "en",
"entity": "scheme:529900197LKWCEQ0NL18",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"fact2127": {
"value": "Section 1 \u2013 Basis for preparation \u00a0
This section provides the overall \u00a0
\n\t\t\t\t\treporting framework applied \u00a0
\n\t\t\t\t\tin our consolidated financial \u00a0
\n\t\t\t\t\tstatements. Specific accounting \u00a0
\n\t\t\t\t\tpolicies applied are described \u00a0
\n\t\t\t\t\tin the relevant sections, \u00a0
\n\t\t\t\t\twhile new and upcomming \u00a0
\n\t\t\t\t\tlegislastion is presented in note \u00a0
\n\t\t\t\t\t1.2, and significant estimates \u00a0
\n\t\t\t\t\tand judgements exercised by \u00a0
\n\t\t\t\t\tmanagement as part of the \u00a0
\n\t\t\t\t\tpreparation of this Annual Report \u00a0
\n\t\t\t\t\tis described in note 1.3. \u00a0
1.1 General accounting policies \u00a0
Introduction \u00a0
\n\t\t\t\t\tThe 2022 Annual Report for NKT Group, comprising \u00a0
\n\t\t\t\t\tboth the consolidated financial statements for NKT \u00a0
\n\t\t\t\t\tA/S and its subsidiaries (NKT Group) as well as the \u00a0
\n\t\t\t\t\tseparate financial statements for the parent company, \u00a0
\n\t\t\t\t\thas been prepared in accordance with International \u00a0
\n\t\t\t\t\tFinancial Reporting Standards, IFRS, as adopted by \u00a0
\n\t\t\t\t\tthe EU and additional Danish disclosure requirements \u00a0
\n\t\t\t\t\tfor annual reports for listed companies. \u00a0
\n\t\t\t\t\tThe Annual Report has been approved by the Board \u00a0
\n\t\t\t\t\tof Directors and Executive Management on 22 \u00a0
\n\t\t\t\t\tFebruary 2023, an will be presented for approval by \u00a0
\n\t\t\t\t\tthe shareholders at the Annual General Meeting on \u00a0
\n\t\t\t\t\t23 March 2023. \u00a0
Basis for preparation \u00a0
\n\t\t\t\t\tThe Annual Report is presented in EUR rounded to \u00a0
\n\t\t\t\t\tthe nearest EUR 1,000,000 with one decimal. The \u00a0
\n\t\t\t\t\tAnnual Report is prepared according to the historical \u00a0
\n\t\t\t\t\tcost principle with the exception that derivatives and \u00a0
\n\t\t\t\t\tfinancial instruments, classified as fair value through \u00a0
\n\t\t\t\t\tprofit loss (FVTPL), are measured at fair value. \u00a0
\n\t\t\t\t\tThe accounting policies described below and in the \u00a0
\n\t\t\t\t\tindividual sections have been applied consistently \u00a0
\n\t\t\t\t\tduring the financial year and for the comparative \u00a0
\n\t\t\t\t\tfigures. For standards implemented prospectively the \u00a0
\n\t\t\t\t\tcomparative figures have not been restated. \u00a0
\n\t\t\t\t\tAs part of the preparation of the Annual Report, the \u00a0
\n\t\t\t\t\tBoard of Directors and Executive Management have \u00a0
\n\t\t\t\t\tconsidered whether the financial statements can \u00a0
\n\t\t\t\t\tbe presented on a \u2018going concern\u2019 basis. Based on \u00a0
\n\t\t\t\t\tfuture prospects, considering identified uncertainties \u00a0
\n\t\t\t\t\tand risks, expectations of future cash flows and exist- \u00a0
\n\t\t\t\t\tence of credit facilities it is concluded that, at the time \u00a0
\n\t\t\t\t\tof the approval of the Annual Report, the financial \u00a0
\n\t\t\t\t\theadroom is sufficient to manage the level of activity \u00a0
\n\t\t\t\t\texpected in 2023 for the NKT Group. \u00a0
Applying materiality \u00a0
\n\t\t\t\t\tIFRS contains extensive disclosure requirements. The \u00a0
\n\t\t\t\t\tspecific disclosures required according to IFRS are \u00a0
\n\t\t\t\t\tstated in the Annual Report unless the disclosures \u00a0
\n\t\t\t\t\tare considered irrelevant or immaterial, in which \u00a0
\n\t\t\t\t\tcase these are omitted or aggregated in order to \u00a0
\n\t\t\t\t\tincrease focus on material drivers behind the financial \u00a0
\n\t\t\t\t\tperformance. \u00a0
\n\t\t\t\t\tWith materiality in mind, the presentation throughout \u00a0
\n\t\t\t\t\tthe financial statements focus on the accounting \u00a0
\n\t\t\t\t\tchoices made to establish the NKT accounting \u00a0
\n\t\t\t\t\tpolicies as well as the significant estimates and \u00a0
\n\t\t\t\t\tjudgement exercised by management, while avoiding \u00a0
\n\t\t\t\t\tthe replication of more generic accounting policies \u00a0
\n\t\t\t\t\tand standards. \u00a0
Foreign currency translation \u00a0
\n\t\t\t\t\tTransactions in foreign currencies are initially \u00a0
\n\t\t\t\t\trecognized in the Group entities at their respective \u00a0
\n\t\t\t\t\tfunctional currency rates prevailing at the date of the \u00a0
\n\t\t\t\t\ttransaction. Monetary assets and liabilities denom- \u00a0
\n\t\t\t\t\tinated in foreign currencies are translated at the \u00a0
\n\t\t\t\t\tfunctional currency spot rate at the reporting date. All \u00a0
\n\t\t\t\t\tadjustments are recognized in the income statement. \u00a0
Non-monetary items that are measured at historical \u00a0
\n\t\t\t\t\tcost in a foreign currency are translated using the \u00a0
\n\t\t\t\t\texchange rates at the dates of the initial transactions. \u00a0
\n\t\t\t\t\tNon-monetary items measured at fair value in a for- \u00a0
\n\t\t\t\t\teign currency are translated using the exchange rates \u00a0
\n\t\t\t\t\tat the date, when the fair value is determined. \u00a0
\n\t\t\t\t\tThe assets and liabilities of foreign subsidiaries are \u00a0
\n\t\t\t\t\ttranslated into EUR at the rate of exchange prevailing \u00a0
\n\t\t\t\t\tat the reporting date, and their income statements \u00a0
\n\t\t\t\t\tare translated at average exchange rates. Exchange \u00a0
\n\t\t\t\t\trate adjustments arising on translation are recognized \u00a0
\n\t\t\t\t\tin other comprehensive income. On disposal of a for- \u00a0
\n\t\t\t\t\teign operation, the component of other comprehen- \u00a0
\n\t\t\t\t\tsive income relating to that operation is recognized in \u00a0
\n\t\t\t\t\tthe income statement. \u00a0
Alternative performance measures (APMs) \u00a0
\n\t\t\t\t\tThe consolidated financial statement includes \u00a0
\n\t\t\t\t\tfinancial performance measures that are not defined \u00a0
\n\t\t\t\t\taccording to IFRS. \u00a0
\n\t\t\t\t\tThese measures are considered to provide valuable \u00a0
\n\t\t\t\t\tinformation to stakeholders and Management. Since \u00a0
\n\t\t\t\t\tother companies might calculate these differently \u00a0
\n\t\t\t\t\tfrom NKT Group, they may not be comparable to the \u00a0
\n\t\t\t\t\tmeasures applied by other companies. These finan- \u00a0
\n\t\t\t\t\tcial measures should therefore not be considered a \u00a0
\n\t\t\t\t\treplacement for performance measures as defined \u00a0
\n\t\t\t\t\tunder IFRS, but rather as supplementary information. \u00a0
\n\t\t\t\t\tAlternative performance measures are defined in note \u00a0
\n\t\t\t\t\t7.4 in more detail and some are reconciled to IFRS \u00a0
\n\t\t\t\t\tmeasures in note 2.1. \u00a0
Reporting under the ESEF regulation \u00a0
\n\t\t\t\t\tThe Commission Delegated Regulation (EU) \u00a0
\n\t\t\t\t\t2019/815 on the European Single Electronic Format \u00a0
\n\t\t\t\t\t(ESEF Regulation) has introduced a single electronic \u00a0
\n\t\t\t\t\treporting format for the annual financial statements \u00a0
\n\t\t\t\t\tof issuers with securities listed on the EU regulated \u00a0
\n\t\t\t\t\tmarkets. \u00a0
\n\t\t\t\t\tThe applied tagging by the Group has been prepared \u00a0
\n\t\t\t\t\tin accordance with the ESEF taxonomy included in \u00a0
\n\t\t\t\t\tthe ESEF regulation and developed based on the \u00a0
\n\t\t\t\t\tIFRS taxonomy published by the IFRS Foundation. \u00a0
\n\t\t\t\t\tThe Annual Report submitted to the Danish Financial \u00a0
\n\t\t\t\t\tSupervisory Authority consists of the XHTML docu- \u00a0
\n\t\t\t\t\tment together with the technical files included in the \u00a0
\n\t\t\t\t\tZIP file nkt-2022-12-31-en.zip. \u00a0
Accounting policy \u00a0
\n\t\t\t\t\tApart from the more general acounting policy items \u00a0
\n\t\t\t\t\tpresented above, specific accounting policies are \u00a0
\n\t\t\t\t\tincluded in the sections to which they relate in order \u00a0
\n\t\t\t\t\tto facilitate a better understanding of the contents \u00a0
\n\t\t\t\t\tand the accounting treatment applied. \u00a0
1.2 Implementation of new and \u00a0
\n\t\t\t\t\tamended accounting standards \u00a0
\n\t\t\t\t\tand interpretations \u00a0
New standards, interpretations and \u00a0
\n\t\t\t\t\tamendments adopted by NKT Group \u00a0
\n\t\t\t\t\tNKT Group has adopted all new or amended stand- \u00a0
\n\t\t\t\t\tards (IFRS) and interpretations (IFRIC) as adopted by \u00a0
\n\t\t\t\t\tthe EU and which are effective for the financial year 1 \u00a0
\n\t\t\t\t\tJanuary \u2013 31 December 2022. \u00a0
\n\t\t\t\t\tOn 1 January 2022, amendments to IFRS 3 Business \u00a0
\n\t\t\t\t\tCombinations; IAS 16 Property, Plant and Equipment; \u00a0
\n\t\t\t\t\tIAS 37 Provisions, Contingent Liabilities and Contin- \u00a0
\n\t\t\t\t\tgent Assets, and Annual Improvements 2018-2020 \u00a0
\n\t\t\t\t\tbecame effective. \u00a0
\n\t\t\t\t\tNone of the amendments had a material impact on \u00a0
\n\t\t\t\t\tthe NKT Group. \u00a0
New standards, interpretations and \u00a0
\n\t\t\t\t\tamendments not yet adopted by NKT Group \u00a0
\n\t\t\t\t\tIASB has issued a number of new or amended \u00a0
\n\t\t\t\t\taccounting standards and interpretations, some of \u00a0
\n\t\t\t\t\twhich are not yet endorsed by EU, and which are \u00a0
\n\t\t\t\t\tnot mandatory for reporting periods ending at 31 De- \u00a0
\n\t\t\t\t\tcember 2022. NKT Group expect to implement these \u00a0
\n\t\t\t\t\tnew and amended standards, when they become \u00a0
\n\t\t\t\t\tmandatory. \u00a0
\n\t\t\t\t\tNone of the standards and interpretations are expect- \u00a0
\n\t\t\t\t\ted to have a material impact on the NKT Group. \u00a0
1.3 Significant estimates and judgements \u00a0
When preparing this Annual Report, Management \u00a0
\n\t\t\t\t\thas made a number of accounting judgements in \u00a0
\n\t\t\t\t\tapplying the accounting policies, which form the \u00a0
\n\t\t\t\t\tbasis for the recognition and measurement of assets, \u00a0
\n\t\t\t\t\tliabilities and disclosures provided. Further, Manage- \u00a0
\n\t\t\t\t\tment provides significant estimates regarding future \u00a0
\n\t\t\t\t\tdevelopments. These are regularly reassessed based \u00a0
\n\t\t\t\t\ton historical experience and other factors, which \u00a0
\n\t\t\t\t\tManagement assesses to be reliable, but which, \u00a0
\n\t\t\t\t\tby their nature, are associated with uncertainty and \u00a0
\n\t\t\t\t\tunpredictability. \u00a0
Significant estimates and judgements are predomi- \u00a0
\n\t\t\t\t\tnantly applied in relation to the recognition of revenue \u00a0
\n\t\t\t\t\tfrom construction contracts, impairment of goodwill \u00a0
\n\t\t\t\t\tand assessing the value of deferred tax assets. These \u00a0
\n\t\t\t\t\tassumptions may prove incomplete or incorrect, \u00a0
\n\t\t\t\t\tand unexpected events or circumstances may arise, \u00a0
\n\t\t\t\t\tbut the assumptions are considered reasonable and \u00a0
\n\t\t\t\t\treliable under the circumstances. \u00a0
\n\t\t\t\t\tFrom Management perspective the following esti- \u00a0
\n\t\t\t\t\tmates and judgements are considered significant \u00a0
\n\t\t\t\t\tand the applied estimates and judgements are further \u00a0
\n\t\t\t\t\tdescribed in the respective notes. \u00a0
Significant accounting \u00a0
\n\t\t\t\t\tImpact \u00a0
\n\t\t\t\t\tNote \u00a0
\n\t\t\t\t\testimate and judgement \u00a0
\n\t\t\t\t\tEstimate/ Judgement \u00a0
\n\t\t\t\t\tassessment1 \u00a0
\n\t\t\t\t\t2.1 Segment \u00a0
\n\t\t\t\t\tDetermine revenue recognition \u00a0
\n\t\t\t\t\tJudgement and estimate \u00a0
\n\t\t\t\t\tinformation \u00a0
\n\t\t\t\t\tfor projects (PoC) \u00a0
\n\t\t\t\t\tand revenue \u00a0
\n\t\t\t\t\t4.4 Contract \u00a0
\n\t\t\t\t\tValuation of construction contracts \u00a0
\n\t\t\t\t\tJudgement and estimate \u00a0
\n\t\t\t\t\tassets and \u00a0
\n\t\t\t\t\tliabilities \u00a0
\n\t\t\t\t\t2.5 Tax \u00a0
\n\t\t\t\t\tValuation of deferred tax assets \u00a0
\n\t\t\t\t\tJudgement and estimate \u00a0
\n\t\t\t\t\t3.3 Impairment \u00a0
\n\t\t\t\t\tEstimate the value-in-use of intangible \u00a0
\n\t\t\t\t\tEstimate \u00a0
\n\t\t\t\t\tof assets \u00a0
\n\t\t\t\t\tand tangible long-term assets \u00a0
\n\t\t\t\t\t7.3 Contingent \u00a0
\n\t\t\t\t\tDetermine recognition and \u00a0
\n\t\t\t\t\tJudgement and estimate \u00a0
\n\t\t\t\t\tliabilities \u00a0
\n\t\t\t\t\tmeasurement of obligations \u00a0
\n\t\t\t\t\t1 The numbers of boxes in the above assessment indicate the level of estimates and judgment applied, where five being the highest. \u00a0
Significant estimates \u00a0
\n\t\t\t\t\tA description of the Significant judgements and \u00a0
\n\t\t\t\t\taccounting estimates provided by Management are in- \u00a0
\n\t\t\t\t\tcluded in the respective sections to which they relate. \u00a0
Sensitivity \u00a0
\n\t\t\t\t\tSensitivity analyses often accompany significant \u00a0
\n\t\t\t\t\tjudgements and accounting estimates, and are \u00a0
\n\t\t\t\t\tincluded in the sections to which they relate. \u00a0
",
"dimensions": {
"concept": "ifrs-full:DisclosureOfBasisOfPreparationOfFinancialStatementsExplanatory",
"language": "en",
"entity": "scheme:529900197LKWCEQ0NL18",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"fact2147": {
"value": "1.1 General accounting policies \u00a0
Introduction \u00a0
\n\t\t\t\t\tThe 2022 Annual Report for NKT Group, comprising \u00a0
\n\t\t\t\t\tboth the consolidated financial statements for NKT \u00a0
\n\t\t\t\t\tA/S and its subsidiaries (NKT Group) as well as the \u00a0
\n\t\t\t\t\tseparate financial statements for the parent company, \u00a0
\n\t\t\t\t\thas been prepared in accordance with International \u00a0
\n\t\t\t\t\tFinancial Reporting Standards, IFRS, as adopted by \u00a0
\n\t\t\t\t\tthe EU and additional Danish disclosure requirements \u00a0
\n\t\t\t\t\tfor annual reports for listed companies. \u00a0
\n\t\t\t\t\tThe Annual Report has been approved by the Board \u00a0
\n\t\t\t\t\tof Directors and Executive Management on 22 \u00a0
\n\t\t\t\t\tFebruary 2023, an will be presented for approval by \u00a0
\n\t\t\t\t\tthe shareholders at the Annual General Meeting on \u00a0
\n\t\t\t\t\t23 March 2023. \u00a0
Basis for preparation \u00a0
\n\t\t\t\t\tThe Annual Report is presented in EUR rounded to \u00a0
\n\t\t\t\t\tthe nearest EUR 1,000,000 with one decimal. The \u00a0
\n\t\t\t\t\tAnnual Report is prepared according to the historical \u00a0
\n\t\t\t\t\tcost principle with the exception that derivatives and \u00a0
\n\t\t\t\t\tfinancial instruments, classified as fair value through \u00a0
\n\t\t\t\t\tprofit loss (FVTPL), are measured at fair value. \u00a0
\n\t\t\t\t\tThe accounting policies described below and in the \u00a0
\n\t\t\t\t\tindividual sections have been applied consistently \u00a0
\n\t\t\t\t\tduring the financial year and for the comparative \u00a0
\n\t\t\t\t\tfigures. For standards implemented prospectively the \u00a0
\n\t\t\t\t\tcomparative figures have not been restated. \u00a0
\n\t\t\t\t\tAs part of the preparation of the Annual Report, the \u00a0
\n\t\t\t\t\tBoard of Directors and Executive Management have \u00a0
\n\t\t\t\t\tconsidered whether the financial statements can \u00a0
\n\t\t\t\t\tbe presented on a \u2018going concern\u2019 basis. Based on \u00a0
\n\t\t\t\t\tfuture prospects, considering identified uncertainties \u00a0
\n\t\t\t\t\tand risks, expectations of future cash flows and exist- \u00a0
\n\t\t\t\t\tence of credit facilities it is concluded that, at the time \u00a0
\n\t\t\t\t\tof the approval of the Annual Report, the financial \u00a0
\n\t\t\t\t\theadroom is sufficient to manage the level of activity \u00a0
\n\t\t\t\t\texpected in 2023 for the NKT Group. \u00a0
Applying materiality \u00a0
\n\t\t\t\t\tIFRS contains extensive disclosure requirements. The \u00a0
\n\t\t\t\t\tspecific disclosures required according to IFRS are \u00a0
\n\t\t\t\t\tstated in the Annual Report unless the disclosures \u00a0
\n\t\t\t\t\tare considered irrelevant or immaterial, in which \u00a0
\n\t\t\t\t\tcase these are omitted or aggregated in order to \u00a0
\n\t\t\t\t\tincrease focus on material drivers behind the financial \u00a0
\n\t\t\t\t\tperformance. \u00a0
\n\t\t\t\t\tWith materiality in mind, the presentation throughout \u00a0
\n\t\t\t\t\tthe financial statements focus on the accounting \u00a0
\n\t\t\t\t\tchoices made to establish the NKT accounting \u00a0
\n\t\t\t\t\tpolicies as well as the significant estimates and \u00a0
\n\t\t\t\t\tjudgement exercised by management, while avoiding \u00a0
\n\t\t\t\t\tthe replication of more generic accounting policies \u00a0
\n\t\t\t\t\tand standards. \u00a0
Principles of consolidation \u00a0
\n\t\t\t\t\tThe consolidated financial statements comprise the \u00a0
\n\t\t\t\t\tfinancial statements of the parent company (NKT A/S) \u00a0
\n\t\t\t\t\tand the individual subsidiaries\u2019 financial statements \u00a0
\n\t\t\t\t\tprepared according to NKT Group\u2019s accounting poli- \u00a0
\n\t\t\t\t\tcies. Subsidiaries are fully consolidated from the date \u00a0
\n\t\t\t\t\tof acquisition, being the date on which NKT obtains \u00a0
\n\t\t\t\t\tcontrol, until the date that such control ceases. \u00a0
\n\t\t\t\t\tAll intercompany balances, income and expenses, \u00a0
\n\t\t\t\t\tunrealized gains and losses and dividends resulting \u00a0
\n\t\t\t\t\tfrom intercompany transactions are eliminated in full. \u00a0
Foreign currency translation \u00a0
\n\t\t\t\t\tTransactions in foreign currencies are initially \u00a0
\n\t\t\t\t\trecognized in the Group entities at their respective \u00a0
\n\t\t\t\t\tfunctional currency rates prevailing at the date of the \u00a0
\n\t\t\t\t\ttransaction. Monetary assets and liabilities denom- \u00a0
\n\t\t\t\t\tinated in foreign currencies are translated at the \u00a0
\n\t\t\t\t\tfunctional currency spot rate at the reporting date. All \u00a0
\n\t\t\t\t\tadjustments are recognized in the income statement. \u00a0
Non-monetary items that are measured at historical \u00a0
\n\t\t\t\t\tcost in a foreign currency are translated using the \u00a0
\n\t\t\t\t\texchange rates at the dates of the initial transactions. \u00a0
\n\t\t\t\t\tNon-monetary items measured at fair value in a for- \u00a0
\n\t\t\t\t\teign currency are translated using the exchange rates \u00a0
\n\t\t\t\t\tat the date, when the fair value is determined. \u00a0
\n\t\t\t\t\tThe assets and liabilities of foreign subsidiaries are \u00a0
\n\t\t\t\t\ttranslated into EUR at the rate of exchange prevailing \u00a0
\n\t\t\t\t\tat the reporting date, and their income statements \u00a0
\n\t\t\t\t\tare translated at average exchange rates. Exchange \u00a0
\n\t\t\t\t\trate adjustments arising on translation are recognized \u00a0
\n\t\t\t\t\tin other comprehensive income. On disposal of a for- \u00a0
\n\t\t\t\t\teign operation, the component of other comprehen- \u00a0
\n\t\t\t\t\tsive income relating to that operation is recognized in \u00a0
\n\t\t\t\t\tthe income statement. \u00a0
Alternative performance measures (APMs) \u00a0
\n\t\t\t\t\tThe consolidated financial statement includes \u00a0
\n\t\t\t\t\tfinancial performance measures that are not defined \u00a0
\n\t\t\t\t\taccording to IFRS. \u00a0
\n\t\t\t\t\tThese measures are considered to provide valuable \u00a0
\n\t\t\t\t\tinformation to stakeholders and Management. Since \u00a0
\n\t\t\t\t\tother companies might calculate these differently \u00a0
\n\t\t\t\t\tfrom NKT Group, they may not be comparable to the \u00a0
\n\t\t\t\t\tmeasures applied by other companies. These finan- \u00a0
\n\t\t\t\t\tcial measures should therefore not be considered a \u00a0
\n\t\t\t\t\treplacement for performance measures as defined \u00a0
\n\t\t\t\t\tunder IFRS, but rather as supplementary information. \u00a0
\n\t\t\t\t\tAlternative performance measures are defined in note \u00a0
\n\t\t\t\t\t7.4 in more detail and some are reconciled to IFRS \u00a0
\n\t\t\t\t\tmeasures in note 2.1. \u00a0
Reporting under the ESEF regulation \u00a0
\n\t\t\t\t\tThe Commission Delegated Regulation (EU) \u00a0
\n\t\t\t\t\t2019/815 on the European Single Electronic Format \u00a0
\n\t\t\t\t\t(ESEF Regulation) has introduced a single electronic \u00a0
\n\t\t\t\t\treporting format for the annual financial statements \u00a0
\n\t\t\t\t\tof issuers with securities listed on the EU regulated \u00a0
\n\t\t\t\t\tmarkets. \u00a0
\n\t\t\t\t\tThe applied tagging by the Group has been prepared \u00a0
\n\t\t\t\t\tin accordance with the ESEF taxonomy included in \u00a0
\n\t\t\t\t\tthe ESEF regulation and developed based on the \u00a0
\n\t\t\t\t\tIFRS taxonomy published by the IFRS Foundation. \u00a0
\n\t\t\t\t\tThe Annual Report submitted to the Danish Financial \u00a0
\n\t\t\t\t\tSupervisory Authority consists of the XHTML docu- \u00a0
\n\t\t\t\t\tment together with the technical files included in the \u00a0
\n\t\t\t\t\tZIP file nkt-2022-12-31-en.zip. \u00a0
Accounting policy \u00a0
\n\t\t\t\t\tApart from the more general acounting policy items \u00a0
\n\t\t\t\t\tpresented above, specific accounting policies are \u00a0
\n\t\t\t\t\tincluded in the sections to which they relate in order \u00a0
\n\t\t\t\t\tto facilitate a better understanding of the contents \u00a0
\n\t\t\t\t\tand the accounting treatment applied. \u00a0
1.2 Implementation of new and \u00a0
\n\t\t\t\t\tamended accounting standards \u00a0
\n\t\t\t\t\tand interpretations \u00a0
New standards, interpretations and \u00a0
\n\t\t\t\t\tamendments adopted by NKT Group \u00a0
\n\t\t\t\t\tNKT Group has adopted all new or amended stand- \u00a0
\n\t\t\t\t\tards (IFRS) and interpretations (IFRIC) as adopted by \u00a0
\n\t\t\t\t\tthe EU and which are effective for the financial year 1 \u00a0
\n\t\t\t\t\tJanuary \u2013 31 December 2022. \u00a0
\n\t\t\t\t\tOn 1 January 2022, amendments to IFRS 3 Business \u00a0
\n\t\t\t\t\tCombinations; IAS 16 Property, Plant and Equipment; \u00a0
\n\t\t\t\t\tIAS 37 Provisions, Contingent Liabilities and Contin- \u00a0
\n\t\t\t\t\tgent Assets, and Annual Improvements 2018-2020 \u00a0
\n\t\t\t\t\tbecame effective. \u00a0
\n\t\t\t\t\tNone of the amendments had a material impact on \u00a0
\n\t\t\t\t\tthe NKT Group. \u00a0
New standards, interpretations and \u00a0
\n\t\t\t\t\tamendments not yet adopted by NKT Group \u00a0
\n\t\t\t\t\tIASB has issued a number of new or amended \u00a0
\n\t\t\t\t\taccounting standards and interpretations, some of \u00a0
\n\t\t\t\t\twhich are not yet endorsed by EU, and which are \u00a0
\n\t\t\t\t\tnot mandatory for reporting periods ending at 31 De- \u00a0
\n\t\t\t\t\tcember 2022. NKT Group expect to implement these \u00a0
\n\t\t\t\t\tnew and amended standards, when they become \u00a0
\n\t\t\t\t\tmandatory. \u00a0
\n\t\t\t\t\tNone of the standards and interpretations are expect- \u00a0
\n\t\t\t\t\ted to have a material impact on the NKT Group. \u00a0
1.3 Significant estimates and judgements \u00a0
When preparing this Annual Report, Management \u00a0
\n\t\t\t\t\thas made a number of accounting judgements in \u00a0
\n\t\t\t\t\tapplying the accounting policies, which form the \u00a0
\n\t\t\t\t\tbasis for the recognition and measurement of assets, \u00a0
\n\t\t\t\t\tliabilities and disclosures provided. Further, Manage- \u00a0
\n\t\t\t\t\tment provides significant estimates regarding future \u00a0
\n\t\t\t\t\tdevelopments. These are regularly reassessed based \u00a0
\n\t\t\t\t\ton historical experience and other factors, which \u00a0
\n\t\t\t\t\tManagement assesses to be reliable, but which, \u00a0
\n\t\t\t\t\tby their nature, are associated with uncertainty and \u00a0
\n\t\t\t\t\tunpredictability. \u00a0
Significant estimates and judgements are predomi- \u00a0
\n\t\t\t\t\tnantly applied in relation to the recognition of revenue \u00a0
\n\t\t\t\t\tfrom construction contracts, impairment of goodwill \u00a0
\n\t\t\t\t\tand assessing the value of deferred tax assets. These \u00a0
\n\t\t\t\t\tassumptions may prove incomplete or incorrect, \u00a0
\n\t\t\t\t\tand unexpected events or circumstances may arise, \u00a0
\n\t\t\t\t\tbut the assumptions are considered reasonable and \u00a0
\n\t\t\t\t\treliable under the circumstances. \u00a0
\n\t\t\t\t\tFrom Management perspective the following esti- \u00a0
\n\t\t\t\t\tmates and judgements are considered significant \u00a0
\n\t\t\t\t\tand the applied estimates and judgements are further \u00a0
\n\t\t\t\t\tdescribed in the respective notes. \u00a0
Significant accounting \u00a0
\n\t\t\t\t\tImpact \u00a0
\n\t\t\t\t\tNote \u00a0
\n\t\t\t\t\testimate and judgement \u00a0
\n\t\t\t\t\tEstimate/ Judgement \u00a0
\n\t\t\t\t\tassessment1 \u00a0
\n\t\t\t\t\t2.1 Segment \u00a0
\n\t\t\t\t\tDetermine revenue recognition \u00a0
\n\t\t\t\t\tJudgement and estimate \u00a0
\n\t\t\t\t\tinformation \u00a0
\n\t\t\t\t\tfor projects (PoC) \u00a0
\n\t\t\t\t\tand revenue \u00a0
\n\t\t\t\t\t4.4 Contract \u00a0
\n\t\t\t\t\tValuation of construction contracts \u00a0
\n\t\t\t\t\tJudgement and estimate \u00a0
\n\t\t\t\t\tassets and \u00a0
\n\t\t\t\t\tliabilities \u00a0
\n\t\t\t\t\t2.5 Tax \u00a0
\n\t\t\t\t\tValuation of deferred tax assets \u00a0
\n\t\t\t\t\tJudgement and estimate \u00a0
\n\t\t\t\t\t3.3 Impairment \u00a0
\n\t\t\t\t\tEstimate the value-in-use of intangible \u00a0
\n\t\t\t\t\tEstimate \u00a0
\n\t\t\t\t\tof assets \u00a0
\n\t\t\t\t\tand tangible long-term assets \u00a0
\n\t\t\t\t\t7.3 Contingent \u00a0
\n\t\t\t\t\tDetermine recognition and \u00a0
\n\t\t\t\t\tJudgement and estimate \u00a0
\n\t\t\t\t\tliabilities \u00a0
\n\t\t\t\t\tmeasurement of obligations \u00a0
\n\t\t\t\t\t1 The numbers of boxes in the above assessment indicate the level of estimates and judgment applied, where five being the highest. \u00a0
Significant estimates \u00a0
\n\t\t\t\t\tA description of the Significant judgements and \u00a0
\n\t\t\t\t\taccounting estimates provided by Management are in- \u00a0
\n\t\t\t\t\tcluded in the respective sections to which they relate. \u00a0
Sensitivity \u00a0
\n\t\t\t\t\tSensitivity analyses often accompany significant \u00a0
\n\t\t\t\t\tjudgements and accounting estimates, and are \u00a0
\n\t\t\t\t\tincluded in the sections to which they relate. \u00a0
Accounting policy \u00a0
\n\t\t\t\t\tSegment information \u00a0
\n\t\t\t\t\tThe segment information is based on internal management reporting and \u00a0
\n\t\t\t\t\tis presented in accordance with the Group\u2019s accounting policies. \u00a0
\n\t\t\t\t\tSegment income and expenses and segment working capital comprise \u00a0
\n\t\t\t\t\tthose items that are directly attributable to the individual segment and \u00a0
\n\t\t\t\t\tthose items that can be reliably allocated to it. Other items are shown as \u00a0
\n\t\t\t\t\tnon-allocated. \u00a0
\n\t\t\t\t\tThe reportable segments are generally referred to as business lines. The \u00a0
\n\t\t\t\t\tbusiness lines consist of Solutions, Applications and Service & Accesso- \u00a0
\n\t\t\t\t\tries. For further details please refer to the Business review section of each \u00a0
\n\t\t\t\t\tbusiness line. The Board of Directors assesses the operating results of \u00a0
\n\t\t\t\t\tthe business lines separately to enable decisions concerning allocation of \u00a0
\n\t\t\t\t\tresources and measurement of performance. \u00a0
\n\t\t\t\t\tRevenue from Goods and Service are recognized at a point in time and \u00a0
\n\t\t\t\t\trevenue from construction contracts are recognized over time. \u00a0
\n\t\t\t\t\tInter-segment transactions are performed on market terms. \u00a0
\n\t\t\t\t\tNo single customer accounts for more than 10% of the revenue. \u00a0
\n\t\t\t\t\tThe geographical disclosure of revenue is based on the country of delivery. \u00a0
Other operating income comprises items of a secondary nature rela- \u00a0
\n\t\t\t\t\ttive to the operations of the Group, including grant schemes, reimburse- \u00a0
\n\t\t\t\t\tments and gains on sale of non-current assets, etc. \u00a0
Change in inventories of finished goods and work in progress \u00a0
\n\t\t\t\t\tcomprises changes in these items which correspond to staff costs and \u00a0
\n\t\t\t\t\tother costs charged to the income statement during the year and which \u00a0
\n\t\t\t\t\trelate directly or indirectly to the cost of the items stated in the balance \u00a0
\n\t\t\t\t\tsheet. \u00a0
Work performed by the Group and capitalized comprises income \u00a0
\n\t\t\t\t\twhich corresponds to staff costs and other costs charged to the income \u00a0
\n\t\t\t\t\tstatement during the year and which relate directly or indirectly to the \u00a0
\n\t\t\t\t\tcapitalized cost of non-current assets of own manufacture. \u00a0
Raw materials, consumables and goods for resale \u00a0
\n\t\t\t\t\tCosts of raw materials, consumables and goods for resale refer to \u00a0
\n\t\t\t\t\tpurchases and changes during the year in inventory levels, including \u00a0
\n\t\t\t\t\tshrinkage, waste production and any write-downs for obsolescence. \u00a0
Other costs comprise external costs relating to production, sale and \u00a0
\n\t\t\t\t\tadministration, as well as losses on disposal of tangible and intangible \u00a0
\n\t\t\t\t\tassets. Write-downs of receivables from sales are also included. \u00a0
Significant judgements \u00a0
\n\t\t\t\t\tCable projects are to a certain degree measured based on management \u00a0
\n\t\t\t\t\tjudgement in terms of when to recognize revenue and how to calculate \u00a0
\n\t\t\t\t\tthe revenue in terms of stage-of-completion and estimated profit on \u00a0
\n\t\t\t\t\teach project. The estimates include a risk provision, which is based on \u00a0
\n\t\t\t\t\tan assessment of the specific risks that each project is exposed to. The \u00a0
\n\t\t\t\t\tstage-of-completion is based on costs incurred against estimated total \u00a0
\n\t\t\t\t\tproject costs. In essence, the total project costs are therefore to a large \u00a0
\n\t\t\t\t\textent based on estimates. \u00a0
Assumptions for the recognition of revenue over time regarding larger \u00a0
\n\t\t\t\t\tcable projects are determined contract by contract. Control is transferred \u00a0
\n\t\t\t\t\tas the project progresses, based on assumptions such as: \u00a0
\n\t\t\t\t\tDeliveries being approved on an ongoing basis \u00a0
\n\t\t\t\t\t\u25a0
\n\t\t\t\t\tNKT Group\u2019s ability to provide products according to specification and \u00a0
\n\t\t\t\t\t\u25a0
\n\t\t\t\t\tthe risk that the cable is rejected \u00a0
\n\t\t\t\t\tCustomer takes over risk and legal title to the cable installation on an \u00a0
\n\t\t\t\t\t\u25a0
\n\t\t\t\t\ton-going basis, and \u00a0
\n\t\t\t\t\tMilestone payments from the customer. \u00a0
Accounting policy \u00a0
\n\t\t\t\t\tRevenue \u00a0
\n\t\t\t\t\tRevenue from construction contracts with customers \u00a0
\n\t\t\t\t\twith a high degree of individual customization and no \u00a0
\n\t\t\t\t\talternative use, are recognized as revenue over time, \u00a0
\n\t\t\t\t\tprovided that NKT Group has secured an enforceable \u00a0
\n\t\t\t\t\tright to payment for work performed at any time. \u00a0
\n\t\t\t\t\tThe revenue therefore corresponds to the sales price \u00a0
\n\t\t\t\t\tof work performed during the year (the percent- \u00a0
\n\t\t\t\t\tage-of-completion method). See note 4.4 for further \u00a0
\n\t\t\t\t\tinformation concerning construction contracts. \u00a0
\n\t\t\t\t\tRevenue from sale of goods for resale and finished \u00a0
\n\t\t\t\t\tgoods is recognized in the income statement when \u00a0
\n\t\t\t\t\tcontrol of the goods has transferred to the buyer, \u00a0
\n\t\t\t\t\tnormally at delivery, and it is virtually certain that the \u00a0
\n\t\t\t\t\tincome will be received. \u00a0
\n\t\t\t\t\tRevenue from services that include service packages \u00a0
\n\t\t\t\t\tand extended warranties relating to products and \u00a0
\n\t\t\t\t\tcontracts is recognized concurrently with the supply \u00a0
\n\t\t\t\t\tof those services. \u00a0
\n\t\t\t\t\tRevenue is measured at the fair value of the expected \u00a0
\n\t\t\t\t\tconsideration excluding VAT and taxes charged on \u00a0
\n\t\t\t\t\tbehalf of third parties. In determining the transaction \u00a0
\n\t\t\t\t\tprice, revenue is reduced by probable penalties and \u00a0
\n\t\t\t\t\tother claims and discounts that are payments to the \u00a0
\n\t\t\t\t\tcustomers. The transaction price is further adjusted \u00a0
\n\t\t\t\t\tfor any variable elements of the transaction price. The \u00a0
\n\t\t\t\t\tvariable amount is estimated at contract inception \u00a0
\n\t\t\t\t\tand revisited throughout the contract period. Variable \u00a0
\n\t\t\t\t\tincome is recognized as revenue when it is highly \u00a0
\n\t\t\t\t\tprobable that a reversal will not occur. \u00a0
Accounting policy \u00a0
\n\t\t\t\t\tStaff costs comprise wages and salaries, remuner- \u00a0
\n\t\t\t\t\tation, pensions, etc., and share-based payment for \u00a0
\n\t\t\t\t\tthe company\u2019s employees, including Group Man- \u00a0
\n\t\t\t\t\tagement. The Board of Directors does not receive \u00a0
\n\t\t\t\t\tshare-based payment. \u00a0
Wages and salaries, social security contributions, \u00a0
\n\t\t\t\t\tleave and sick leave, bonuses and non-monetary \u00a0
\n\t\t\t\t\tbenefits are recognized in the financial year in which \u00a0
\n\t\t\t\t\tservices are rendered by the employee. When NKT \u00a0
\n\t\t\t\t\tprovides long-term employee benefits, the costs are \u00a0
\n\t\t\t\t\taccrued to match the rendering of services. \u00a0
Termination benefits are recognized when an \u00a0
\n\t\t\t\t\tagreement has been reached between NKT and the \u00a0
\n\t\t\t\t\temployee and no future service is rendered by the \u00a0
\n\t\t\t\t\temployee in exchange for the benefits. \u00a0
Accounting policy \u00a0
\n\t\t\t\t\tThe share-based payments contain internal performance measures and \u00a0
\n\t\t\t\t\texternal market return measures. At the grant date the value of services \u00a0
\n\t\t\t\t\treceived in exchange for share-based payments are measured at the fair \u00a0
\n\t\t\t\t\tvalue. The fair value of share-based payments is estimated using a valua- \u00a0
\n\t\t\t\t\ttion model that takes into account the terms and conditions upon which \u00a0
\n\t\t\t\t\tgranting took place. During the vesting period, the costs related to the \u00a0
\n\t\t\t\t\tplans are recognized as staff costs and an equal amount is recognized \u00a0
\n\t\t\t\t\tin equity. For the internal performance targets, costs are recognized \u00a0
\n\t\t\t\t\tover the vesting period based on the number of shares expected to \u00a0
\n\t\t\t\t\tvest, whereas for the market return elements, costs are recognized over \u00a0
\n\t\t\t\t\tthe vesting period disregarding any changes in the number of shares \u00a0
\n\t\t\t\t\texpected to vest. \u00a0
Accounting policy \u00a0
\n\t\t\t\t\tResearch costs are expensed in the income statement as they occur. \u00a0
\n\t\t\t\t\tClearly defined and identifiable development projects are recognized as \u00a0
\n\t\t\t\t\tintangible assets provided that the following requirements are met: the \u00a0
\n\t\t\t\t\ttechnical feasibility, adequacy of resources and a potential future market \u00a0
\n\t\t\t\t\tcan be demonstrated, it is intended to manufacture, market or utilize \u00a0
\n\t\t\t\t\tthe project, the cost can be reliably determined, and there is reasonable \u00a0
\n\t\t\t\t\tcertainty that the future earnings or net selling prices can cover the car- \u00a0
\n\t\t\t\t\trying amount as well as the development costs necessary to finalize the \u00a0
\n\t\t\t\t\tproject. Other development costs are expensed in the income statement \u00a0
\n\t\t\t\t\tas incurred. Capitalized development projects are measured at cost less \u00a0
\n\t\t\t\t\taccumulated amortization and impairment losses. The cost includes \u00a0
\n\t\t\t\t\twages, amortization and other costs relating to the Group\u2019s development \u00a0
\n\t\t\t\t\tactivities. On completion of the development work, development projects \u00a0
\n\t\t\t\t\tare amortized on a straight-line basis over their estimated useful life from \u00a0
\n\t\t\t\t\tthe date the asset is available for use. The amortization period is usually \u00a0
\n\t\t\t\t\t3\u201310 years. The amortization base is reduced by any impairment losses. \u00a0
Accounting policy \u00a0
\n\t\t\t\t\tCurrent income tax \u00a0
\n\t\t\t\t\tTax for the period, consists of the year\u2019s current tax, \u00a0
\n\t\t\t\t\tchange in deferred tax and adjustments related to \u00a0
\n\t\t\t\t\tprevious years. Tax for the period is recognized in \u00a0
\n\t\t\t\t\tthe income statement including the effect of coupon \u00a0
\n\t\t\t\t\tpayments on the hybrid capital. Tax relating to other \u00a0
\n\t\t\t\t\titems are recognized in other comprehensive income. \u00a0
\n\t\t\t\t\tCurrent tax payable and receivable is recognized in \u00a0
\n\t\t\t\t\tthe balance sheet as tax estimated on taxable in- \u00a0
\n\t\t\t\t\tcome for the year, adjusted for tax on taxable income \u00a0
\n\t\t\t\t\tfor previous years and for tax paid on account. \u00a0
Deferred tax \u00a0
\n\t\t\t\t\tDeferred tax is measured according to the balance \u00a0
\n\t\t\t\t\tsheet liability method on all temporary differences \u00a0
\n\t\t\t\t\tbetween the carrying amount and the tax base of \u00a0
\n\t\t\t\t\tassets and liabilities. However, deferred tax is not rec- \u00a0
\n\t\t\t\t\tognized on temporary differences relating to buildings \u00a0
\n\t\t\t\t\tand goodwill that for tax purposes do not qualify for \u00a0
\n\t\t\t\t\tdepreciation and amortization, respectively, nor on \u00a0
\n\t\t\t\t\tother items where temporary differences \u2013 except for \u00a0
\n\t\t\t\t\tacquisitions \u2013 arose at the acquisition date without \u00a0
\n\t\t\t\t\tinfluencing either net earnings or taxable income. \u00a0
\n\t\t\t\t\tWhere alternative taxation rules can be applied to \u00a0
\n\t\t\t\t\tdetermine the tax base, deferred tax is measured \u00a0
\n\t\t\t\t\taccording to Group Management\u2019s planned use of \u00a0
\n\t\t\t\t\tthe assets or settlement of the liabilities, respectively. \u00a0
Deferred tax assets, including the tax base of tax \u00a0
\n\t\t\t\t\tlosses allowed for carry forward, are recognized at \u00a0
\n\t\t\t\t\ttheir expected utilization value within the foreseeable \u00a0
\n\t\t\t\t\tfuture. \u00a0
\n\t\t\t\t\tDeferred tax assets and tax liabilities are offset if the \u00a0
\n\t\t\t\t\tcompany has a legal right to offset current tax assets \u00a0
\n\t\t\t\t\tand liabilities and intends to settle current tax assets \u00a0
\n\t\t\t\t\tand liabilities on a net basis or to realize the assets \u00a0
\n\t\t\t\t\tand liabilities simultaneously. \u00a0
Accounting policy \u00a0
\n\t\t\t\t\tGoodwill is initially recognized in the balance sheet \u00a0
\n\t\t\t\t\tat cost. Subsequently, goodwill is measured at cost \u00a0
\n\t\t\t\t\tless accumulated impairment losses and is not \u00a0
\n\t\t\t\t\tamortized. \u00a0
\n\t\t\t\t\tThe carrying amount of goodwill is allocated to NKT \u00a0
\n\t\t\t\t\tGroup\u2019s cash-generating units at the acquisition date. \u00a0
\n\t\t\t\t\tCash-generating units is based on the managerial \u00a0
\n\t\t\t\t\tstructure and internal financial control. As a result \u00a0
\n\t\t\t\t\tof the integration of acquisitions in the existing NKT \u00a0
\n\t\t\t\t\tGroup, and identification of operating segments \u00a0
\n\t\t\t\t\tbased on the presence of segment managers, Group \u00a0
\n\t\t\t\t\tManagement finds that the smallest cash-generating \u00a0
\n\t\t\t\t\tunits to which the carrying amount of goodwill can \u00a0
\n\t\t\t\t\tbe allocated during testing for impairment are the \u00a0
\n\t\t\t\t\treportable segments. \u00a0
\n\t\t\t\t\tOther intangible assets, which includes IT \u00a0
\n\t\t\t\t\tsoftware, trademarks, patents and licences, are \u00a0
\n\t\t\t\t\tmeasured at cost less accumulated amortization and \u00a0
\n\t\t\t\t\timpairment losses and are amortized on a straight- \u00a0
\n\t\t\t\t\tline basis over the remaining patent or contract \u00a0
\n\t\t\t\t\tperiod or the useful life, whichever is the shorter. \u00a0
\n\t\t\t\t\tExpected useful life is determined as follow: \u00a0
\n\t\t\t\t\tTrademarks, patents and licences, etc.
3 \u201315 years \u00a0
\n\t\t\t\t\tIT software \u00a0
\n\t\t\t\t\t3 \u2013 8 years \u00a0
NKT Group has no leases where the rent is variable \u00a0
\n\t\t\t\t\tdepending on revenue, etc. Some contracts are ex- \u00a0
\n\t\t\t\t\tposed to future increases in variable lease payments \u00a0
\n\t\t\t\t\tbased on an index or rate, which are included in the \u00a0
\n\t\t\t\t\tlease liability when they take effect. \u00a0
Payments related to short-term leases and leases \u00a0
\n\t\t\t\t\tof low-value assets continue to be recognized on \u00a0
\n\t\t\t\t\ta straight-line basis as an expense in the income \u00a0
\n\t\t\t\t\tstatement. Low-value assets mainly comprise minor \u00a0
\n\t\t\t\t\tbuildings, cars, forklifts, IT-equipment and other office \u00a0
\n\t\t\t\t\tequipment. \u00a0
Accounting policy \u00a0
\n\t\t\t\t\tContracts relating to leased equipment are usually \u00a0
\n\t\t\t\t\tmade for a fixed period, whereas lease contracts \u00a0
\n\t\t\t\t\tfor buildings and land in some instances include an \u00a0
\n\t\t\t\t\toption to extend the lease. When assessing the life of \u00a0
\n\t\t\t\t\tthe leases, NKT considers the non-cancellable lease \u00a0
\n\t\t\t\t\tterm and options to extend the lease where it is rea- \u00a0
\n\t\t\t\t\tsonably certain to extend. The lease period of offices \u00a0
\n\t\t\t\t\tand sales buildings are assessed to be approximately \u00a0
\n\t\t\t\t\t3-10 years, for production facilities 5-10 years and \u00a0
\n\t\t\t\t\tfor land up to 20 years. For other assets the lease \u00a0
\n\t\t\t\t\tterm is equal to the non-cancelable lease period and \u00a0
\n\t\t\t\t\textensions are not considered. The right-of-use asset \u00a0
\n\t\t\t\t\tis depreciated over the shorter of the asset\u2019s useful \u00a0
\n\t\t\t\t\tlife and the lease term on a straight-line basis. \u00a0
Accounting policy \u00a0
\n\t\t\t\t\tProperty, plant and equipment are measured at cost less accumulated depreciation and \u00a0
\n\t\t\t\t\timpairment losses. \u00a0
\n\t\t\t\t\tThe cost comprises the purchase price and any costs directly attributable to the acquisition. \u00a0
\n\t\t\t\t\tThe cost of self-constructed assets comprises costs of materials, components, subcon- \u00a0
\n\t\t\t\t\ttractors and wages. The cost is supplemented by the present value of estimated liabilities \u00a0
\n\t\t\t\t\trelated to dismantling and removing the asset and restoring the site on which the asset was \u00a0
\n\t\t\t\t\tutilized. \u00a0
\n\t\t\t\t\tSubsequent costs, e.g. relating to replacement of parts of an item of property, plant and \u00a0
\n\t\t\t\t\tequipment, are recognized in the carrying amount of the asset if it is likely that the costs will \u00a0
\n\t\t\t\t\tresult in future economic benefits for the Group. All other costs relating to ordinary repair and \u00a0
\n\t\t\t\t\tmaintenance are recognized in the income statement as incurred. \u00a0
\n\t\t\t\t\tDepreciation is done on a straight-line basis over the expected useful life of the assets, as \u00a0
\n\t\t\t\t\tfollows: \u00a0
\n\t\t\t\t\tBuildings \u00a0
\n\t\t\t\t\t10 \u2013 50 years \u00a0
\n\t\t\t\t\tManufacturing plant and machinery \u00a0
\n\t\t\t\t\t4 \u2013 20 years \u00a0
\n\t\t\t\t\tFixtures, fittings, tools and equipment \u00a0
\n\t\t\t\t\t3 \u2013 15 years \u00a0
\n\t\t\t\t\tVessel \u00a0
\n\t\t\t\t\t20 years \u00a0
\n\t\t\t\t\tLand is not depreciated \u00a0
\n\t\t\t\t\tIf individual parts of an item of property, plant and equipment have different useful lives, they \u00a0
\n\t\t\t\t\tare depreciated separately. \u00a0
\n\t\t\t\t\tThe basis of depreciation is calculated according to the residual value less impairment \u00a0
\n\t\t\t\t\tlosses. The residual value is determined at the acquisition date and reviewed annually. If the \u00a0
\n\t\t\t\t\tresidual value exceeds the carrying amount, depreciation is discontinued. \u00a0
Accounting policy \u00a0
\n\t\t\t\t\tGoodwill, intangible assets with indefinite useful lives and development \u00a0
\n\t\t\t\t\tprojects are tested at least annually for impairment, and furthermore \u00a0
\n\t\t\t\t\twhen a trigger event occurs. \u00a0
\n\t\t\t\t\tThe carrying amount of goodwill is tested for impairment together with \u00a0
\n\t\t\t\t\tthe other non-current assets in the cash-generating unit to which good- \u00a0
\n\t\t\t\t\twill is allocated. The recoverable amount is generally computed as the \u00a0
\n\t\t\t\t\tpresent value of the expected future net cash flows from the business or \u00a0
\n\t\t\t\t\tactivity (cash-generating unit) to which goodwill is allocated. \u00a0
\n\t\t\t\t\tOther non-current assets \u00a0
\n\t\t\t\t\tThe carrying amount of other non-current assets is tested when a trigger \u00a0
\n\t\t\t\t\tevent occurs which could indicate an impairment, in which case, the \u00a0
\n\t\t\t\t\trecoverable amount of the asset is determined. The recoverable amount \u00a0
\n\t\t\t\t\tis the fair value of the asset less anticipated cost of disposal, or its value- \u00a0
\n\t\t\t\t\tin-use, whichever is the higher. \u00a0
\n\t\t\t\t\tThe value-in-use is calculated as the present value of expected future \u00a0
\n\t\t\t\t\tcash flows from the asset or the cash-generating unit of which the asset \u00a0
\n\t\t\t\t\tis part. \u00a0
\n\t\t\t\t\tRecognition of impairment loss in the income statement \u00a0
\n\t\t\t\t\tImpairment is recognized if the carrying amount of an asset or a \u00a0
\n\t\t\t\t\tcash-generating unit exceeds the respective recoverable amount. The \u00a0
\n\t\t\t\t\timpairment is recognized in the income statement and impairment of \u00a0
\n\t\t\t\t\tgoodwill is recognized in a separate line item in the income statement. \u00a0
\n\t\t\t\t\tImpairment of goodwill is not reversed. Impairment of other assets is re- \u00a0
\n\t\t\t\t\tversed in the event of changes having taken place in the conditions and \u00a0
\n\t\t\t\t\testimates on which the impairment calculation was based. Impairment \u00a0
\n\t\t\t\t\tis only reversed if the new carrying amount of the asset does not exceed \u00a0
\n\t\t\t\t\tthe carrying amount that would have applied after amortization if the \u00a0
\n\t\t\t\t\tasset had not been impaired. \u00a0
Accounting policy \u00a0
\n\t\t\t\t\tThe provisions recognized are Management\u2019s best estimate of the \u00a0
\n\t\t\t\t\tamount required to settle the obligation. Warranty provisions are \u00a0
\n\t\t\t\t\trecognized in connection with the sale of goods and services based on \u00a0
\n\t\t\t\t\tthe level of warranty expenses incurred in previous years. Contingent \u00a0
\n\t\t\t\t\twarranty commitments are recognized in connection with business \u00a0
\n\t\t\t\t\tcombinations. Restructuring costs are recognized under liabilities when \u00a0
\n\t\t\t\t\ta detailed, formal restructuring plan is announced to the affected parties \u00a0
\n\t\t\t\t\ton or before the balance sheet date. A provision for onerous contracts is \u00a0
\n\t\t\t\t\trecognized when the expected benefits to be derived by the Group from \u00a0
\n\t\t\t\t\ta contract are lower than the Group\u2019s unavoidable costs for meeting \u00a0
\n\t\t\t\t\tits contractual obligations. Provisions for dismantling are measured at \u00a0
\n\t\t\t\t\tthe present value of the expected cost at the balance sheet date. The \u00a0
\n\t\t\t\t\tpresent value of the costs is included in the cost of the relevant tangible \u00a0
\n\t\t\t\t\tassets and depreciated accordingly. The addition of interests on provi- \u00a0
\n\t\t\t\t\tsions are recognized in the income statement under financial expenses. \u00a0
\n\t\t\t\t\tFor the Group\u2019s defined benefit plans, an annual actuarial calculation (the \u00a0
\n\t\t\t\t\tProjected Unit Credit Method) of the present value of future benefits pay- \u00a0
\n\t\t\t\t\table under the plan is provided. The present value is determined based \u00a0
\n\t\t\t\t\ton assumptions about the future development in variables such as salary \u00a0
\n\t\t\t\t\tlevels, interest rates, inflation and mortality. The present value is deter- \u00a0
\n\t\t\t\t\tmined only for benefits earned by employees from their employment \u00a0
\n\t\t\t\t\twithin the Group. The actuarial present value less the fair value of any \u00a0
\n\t\t\t\t\tplan assets is recognized in the balance sheet under pension liabilities. \u00a0
\n\t\t\t\t\tPension expenses and other long-term employee benefits are recog- \u00a0
\n\t\t\t\t\tnized in the income statement based on actuarial estimates and financial \u00a0
\n\t\t\t\t\texpectations at the start of the year. Actuarial gains or losses are recog- \u00a0
\n\t\t\t\t\tnized in other comprehensive income. \u00a0
\n\t\t\t\t\tIf a pension plan constitutes a net asset, the asset is only recognized if it \u00a0
\n\t\t\t\t\toffsets cumulative actuarial losses or future refunds from the plan, or if it \u00a0
\n\t\t\t\t\twill lead to reduced future payments to the plan. \u00a0
Accounting policy \u00a0
\n\t\t\t\t\tInventories are measured at cost in accordance with \u00a0
\n\t\t\t\t\tthe FIFO method or at a weighted average. If the net \u00a0
\n\t\t\t\t\trealizable value is lower than cost, inventories are \u00a0
\n\t\t\t\t\twritten down to this lower value. \u00a0
\n\t\t\t\t\tRaw materials, consumables and goods for resale \u00a0
\n\t\t\t\t\tare measured at cost, comprising purchase price \u00a0
\n\t\t\t\t\tplus delivery costs. \u00a0
\n\t\t\t\t\tFinished goods and work in progress are measured \u00a0
\n\t\t\t\t\tat cost, comprising direct costs and production \u00a0
\n\t\t\t\t\toverheads. \u00a0
Accounting policy \u00a0
\n\t\t\t\t\tTrade receivables are at initial recognition measured at their transaction \u00a0
\n\t\t\t\t\tprice less allowance for expected credit losses over the lifetime and are \u00a0
\n\t\t\t\t\tsubsequently measured at amortized cost adjusted for changes to the \u00a0
\n\t\t\t\t\texpected credit losses. Expected credit losses at initial recognition are \u00a0
\n\t\t\t\t\tcalculated for portfolios of receivables that share credit risk characteris- \u00a0
\n\t\t\t\t\ttics and is based on historical experience and, when applicable, adjusted \u00a0
\n\t\t\t\t\tfor factors that are specific to the debtors and general economic con- \u00a0
\n\t\t\t\t\tditions. The portfolios are primarily based on the debtor\u2019s domicile and \u00a0
\n\t\t\t\t\tcredit rating in accordance with NKT Groups credit risk management \u00a0
\n\t\t\t\t\tpolicy, see Section 5.6. \u00a0
\n\t\t\t\t\tWhen there is an indication of impairment, expected credit losses are \u00a0
\n\t\t\t\t\tcalculated at individual level and when there are no reasonable expecta- \u00a0
\n\t\t\t\t\ttions of recovering, the receivable is written off in part or entirely. \u00a0
\n\t\t\t\t\tThe allowances for expected credit losses and write-offs for trade receiv- \u00a0
\n\t\t\t\t\tables are recognized in the income statement as Other costs. \u00a0
Accounting policy \u00a0
\n\t\t\t\t\tConstruction contracts \u00a0
\n\t\t\t\t\tConstruction contracts are measured at the selling price of the work \u00a0
\n\t\t\t\t\tperformed less progress billings and anticipated losses. If the value of \u00a0
\n\t\t\t\t\twork performed exceeds progress billings, the excess is recognized as \u00a0
\n\t\t\t\t\tcontract assets. and if progress billings exceed the value of work per- \u00a0
\n\t\t\t\t\tformed, the deficit is recognized as contract liabilities. Prepayments from \u00a0
\n\t\t\t\t\tcustomers are recognized under contract liabilities. \u00a0
\n\t\t\t\t\tConstruction contracts are characterized by a high degree of customiza- \u00a0
\n\t\t\t\t\ttion in the design of the cables produced. It is furthermore a requirement \u00a0
\n\t\t\t\t\tthat before commencement of the work, a binding contract is signed that \u00a0
\n\t\t\t\t\twill result in a fine or compensation in case of subsequent cancellation. \u00a0
\n\t\t\t\t\tThe contract value is measured according to the stage-of-completion, \u00a0
\n\t\t\t\t\twhich is determined on the basis of an assessment of the work per- \u00a0
\n\t\t\t\t\tformed, calculated as the ratio of expenses incurred compared to total \u00a0
\n\t\t\t\t\tanticipated expenses on the contract concerned. When it is probable \u00a0
\n\t\t\t\t\tthat the total contract costs will exceed the total contract revenue, the \u00a0
\n\t\t\t\t\tanticipated loss on the contract is immediately recognized as a provision. \u00a0
\n\t\t\t\t\tWhen income and expenses on a construction contract cannot be \u00a0
\n\t\t\t\t\tdetermined reliably, the contract value is measured as the costs incurred \u00a0
\n\t\t\t\t\twhich are likely to be recoverable. \u00a0
Accounting policy \u00a0
\n\t\t\t\t\tDividend is recognized as a liability at the date of adoption at the Annual General Meeting \u00a0
\n\t\t\t\t\t(declaration date). Proposed dividend payments for the year are disclosed as a separate \u00a0
\n\t\t\t\t\titem under equity. Interim dividend is recognized as a liability at the date when the decision \u00a0
\n\t\t\t\t\tto pay such dividend is made. \u00a0
Acquisition costs, consideration received, and dividends relating to treasury shares, are \u00a0
\n\t\t\t\t\trecognized directly in retained comprehensive income in equity. \u00a0
Accounting policy \u00a0
\n\t\t\t\t\tHybrid capital is treated in accordance with the rules on compound \u00a0
\n\t\t\t\t\tfinancial instruments based on the characteristics of the bonds. The \u00a0
\n\t\t\t\t\tnotional amount, which constitutes a liability, is recognized at present \u00a0
\n\t\t\t\t\tvalue, and equity has been increased by the difference between the net \u00a0
\n\t\t\t\t\tproceeds received and the present value of the discounted liability. The \u00a0
\n\t\t\t\t\tpart of the hybrid capital that is accounted for as a liability is measured \u00a0
\n\t\t\t\t\tat amortized cost. The carrying amount is zero on initial recognition and \u00a0
\n\t\t\t\t\tdue to the 1,000-year term of the hybrid capital, amortization charges \u00a0
\n\t\t\t\t\twill only have an impact on the income statement for the years at the \u00a0
\n\t\t\t\t\tend of the 1,000-year term of the hybrid capital. \u00a0
\n\t\t\t\t\tCoupon payments are accounted for as dividends and are recognized \u00a0
\n\t\t\t\t\tdirectly in equity when the obligation to pay arises. \u00a0
\n\t\t\t\t\tThe obligation to pay coupon payments is at the discretion of Group \u00a0
\n\t\t\t\t\tManagement and deferred coupon lapses upon maturity of the hybrid \u00a0
\n\t\t\t\t\tcapital. Coupon payments are recognized in the statement of cash flows \u00a0
\n\t\t\t\t\tin the same way as dividend payments within financing activities. \u00a0
\n\t\t\t\t\tOn redemption of the hybrid capital, the payment will be distributed \u00a0
\n\t\t\t\t\tbetween liability and equity, applying the same principles as used when \u00a0
\n\t\t\t\t\tthe hybrid capital was issued. The difference between the payment on \u00a0
\n\t\t\t\t\tredemption and the net proceeds received on issue is recognized directly \u00a0
\n\t\t\t\t\tin equity as the debt portion of the existing hybrid issues will be nil during \u00a0
\n\t\t\t\t\tthe first part of the life of the hybrid capital. \u00a0
\n\t\t\t\t\tOn the date on which the Board of Directors decides to exercise an op- \u00a0
\n\t\t\t\t\ttion to redeem the hybrid capital, the part of the hybrid capital that will be \u00a0
\n\t\t\t\t\tredeemed will be reclassified to loans and borrowings. The reclassifica- \u00a0
\n\t\t\t\t\ttion will be made at the market value of the hybrid capital at the date the \u00a0
\n\t\t\t\t\tdecision is made. Following the reclassification, coupon payments and \u00a0
\n\t\t\t\t\texchange rate adjustments will be recognized in the income statement \u00a0
\n\t\t\t\t\tas financial income or expenses. \u00a0
Accounting policy \u00a0
\n\t\t\t\t\tInterest-bearing loans and borrowings are recognized at the amount \u00a0
\n\t\t\t\t\tof proceeds received at the date of borrowing, net of transaction costs \u00a0
\n\t\t\t\t\tpaid. In subsequent periods the financial liabilities are measured at \u00a0
\n\t\t\t\t\tamortized cost using \u2018the effective interest method\u2019, and the difference \u00a0
\n\t\t\t\t\tbetween the proceeds and the nominal value is therefore being recog- \u00a0
\n\t\t\t\t\tnized in the income statement under financial expenses over the term of \u00a0
\n\t\t\t\t\tthe loan. \u00a0
\n\t\t\t\t\tInterest-bearing loans and borrowings also include the capitalized residu- \u00a0
\n\t\t\t\t\tal lease obligations on finance leases measured at amortized cost. \u00a0
Accounting policy \u00a0
\n\t\t\t\t\tChanges in market values of currency and interest rate derivatives not \u00a0
\n\t\t\t\t\tentered into with the purpose of hedging an exposure, are recognized in \u00a0
\n\t\t\t\t\tfinancial income or expenses respectively. \u00a0
Accounting policy \u00a0
\n\t\t\t\t\tNKT mainly apply hedge accounting for financial instruments related to \u00a0
\n\t\t\t\t\tcurrency, raw materials as well as interest rates for loans. The hedges \u00a0
\n\t\t\t\t\tnormally hedge the risk one-to-one with the hedged item. Only gas-oil \u00a0
\n\t\t\t\t\thedges for the hedging of the price risk of plastic differs from this principle, \u00a0
\n\t\t\t\t\tas Group Treasury here determine the ratio necessary to hedge the price \u00a0
\n\t\t\t\t\trisk for plastic. \u00a0
\n\t\t\t\t\tThe Group designates the share of the fair value of a forward contract \u00a0
\n\t\t\t\t\tthat is related to cash price for metals and spot price for FX hedges (i.e. \u00a0
excluding the forward elements) as the hedging instrument for all of its \u00a0
\n\t\t\t\t\thedging relationships involving forward contracts. In accordance with the \u00a0
\n\t\t\t\t\tcost of hedging principle all fair values related to the forward element of \u00a0
\n\t\t\t\t\tthe hedging contract is recognized in other comprehensive income and \u00a0
\n\t\t\t\t\taccumulated in the cost of hedging reserve. As the hedged items are \u00a0
\n\t\t\t\t\ttransaction-related, the forward element is reclassified to the profit or loss \u00a0
\n\t\t\t\t\twhen the hedged item affects profit or loss, and in the same line item as \u00a0
\n\t\t\t\t\tthe hedged item. \u00a0
Fair value changes for cash flow hedges considered effective, are recog- \u00a0
\n\t\t\t\t\tnized in other comprehensive income in the hedging reserve. For each \u00a0
\n\t\t\t\t\treporting date, effectiveness is considered and if the future cash flows are \u00a0
\n\t\t\t\t\tno longer expected to materialize, the accumulated value reported in the \u00a0
\n\t\t\t\t\thedge reserve is reclassified to financial items in the income statement. In \u00a0
\n\t\t\t\t\tall other cases the accumulated value is reclassified to the income state- \u00a0
\n\t\t\t\t\tment in the same line as the hedged item. \u00a0
Fair value changes of financial instruments used to hedge the change in \u00a0
\n\t\t\t\t\tfair value of an asset or liability is recorded in the income statement in the \u00a0
\n\t\t\t\t\tsame line item as the changes in value of the hedged asset or liability is \u00a0
\n\t\t\t\t\trecognized in. \u00a0
\n\t\t\t\t\tHedging of currency risk is not performed for net assets (equity) in \u00a0
\n\t\t\t\t\tforeign subsidiaries. Gains and losses relating to unhedged net assets \u00a0
\n\t\t\t\t\tin foreign subsidiaries are accounted for directly in other comprehensive \u00a0
\n\t\t\t\t\tincome. \u00a0
Accounting policy \u00a0
\n\t\t\t\t\tDiscontinued operations represent a separate major line of businesses intended to be disposed within 12 \u00a0
\n\t\t\t\t\tmonths. The results of discontinued operations are presented separately in the income statement and the cash \u00a0
\n\t\t\t\t\tflow statement with restatement of comparative figures. \u00a0
\n\t\t\t\t\tAssets and liabilities held for sale from discontinued operations are presented as separate items in the balance \u00a0
\n\t\t\t\t\tsheet with no restatement of comparative figures. Elimination between continuing and discontinued operations \u00a0
\n\t\t\t\t\tis presented to reflect continuing operations as post-separation, which includes elimination of interest and \u00a0
\n\t\t\t\t\tloans. \u00a0
\n\t\t\t\t\tAssets and liabilities from discontinued operations and assets held for sale are measured at the lower of carry- \u00a0
\n\t\t\t\t\ting amount and fair value less cost of disposal. Impairment test is performed immediately before classification \u00a0
\n\t\t\t\t\tas held for sale. Non-current assets held for sale are not depreciated or amortized. \u00a0
",
"dimensions": {
"concept": "ifrs-full:DisclosureOfSummaryOfSignificantAccountingPoliciesExplanatory",
"language": "en",
"entity": "scheme:529900197LKWCEQ0NL18",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"fact2203": {
"value": "Principles of consolidation \u00a0
\n\t\t\t\t\tThe consolidated financial statements comprise the \u00a0
\n\t\t\t\t\tfinancial statements of the parent company (NKT A/S) \u00a0
\n\t\t\t\t\tand the individual subsidiaries\u2019 financial statements \u00a0
\n\t\t\t\t\tprepared according to NKT Group\u2019s accounting poli- \u00a0
\n\t\t\t\t\tcies. Subsidiaries are fully consolidated from the date \u00a0
\n\t\t\t\t\tof acquisition, being the date on which NKT obtains \u00a0
\n\t\t\t\t\tcontrol, until the date that such control ceases. \u00a0
\n\t\t\t\t\tAll intercompany balances, income and expenses, \u00a0
\n\t\t\t\t\tunrealized gains and losses and dividends resulting \u00a0
\n\t\t\t\t\tfrom intercompany transactions are eliminated in full. \u00a0
",
"dimensions": {
"concept": "ifrs-full:DisclosureOfBasisOfConsolidationExplanatory",
"language": "en",
"entity": "scheme:529900197LKWCEQ0NL18",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"fact2204": {
"value": "Foreign currency translation \u00a0
\n\t\t\t\t\tTransactions in foreign currencies are initially \u00a0
\n\t\t\t\t\trecognized in the Group entities at their respective \u00a0
\n\t\t\t\t\tfunctional currency rates prevailing at the date of the \u00a0
\n\t\t\t\t\ttransaction. Monetary assets and liabilities denom- \u00a0
\n\t\t\t\t\tinated in foreign currencies are translated at the \u00a0
\n\t\t\t\t\tfunctional currency spot rate at the reporting date. All \u00a0
\n\t\t\t\t\tadjustments are recognized in the income statement. \u00a0
Non-monetary items that are measured at historical \u00a0
\n\t\t\t\t\tcost in a foreign currency are translated using the \u00a0
\n\t\t\t\t\texchange rates at the dates of the initial transactions. \u00a0
\n\t\t\t\t\tNon-monetary items measured at fair value in a for- \u00a0
\n\t\t\t\t\teign currency are translated using the exchange rates \u00a0
\n\t\t\t\t\tat the date, when the fair value is determined. \u00a0
\n\t\t\t\t\tThe assets and liabilities of foreign subsidiaries are \u00a0
\n\t\t\t\t\ttranslated into EUR at the rate of exchange prevailing \u00a0
\n\t\t\t\t\tat the reporting date, and their income statements \u00a0
\n\t\t\t\t\tare translated at average exchange rates. Exchange \u00a0
\n\t\t\t\t\trate adjustments arising on translation are recognized \u00a0
\n\t\t\t\t\tin other comprehensive income. On disposal of a for- \u00a0
\n\t\t\t\t\teign operation, the component of other comprehen- \u00a0
\n\t\t\t\t\tsive income relating to that operation is recognized in \u00a0
\n\t\t\t\t\tthe income statement. \u00a0
",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForForeignCurrencyTranslationExplanatory",
"language": "en",
"entity": "scheme:529900197LKWCEQ0NL18",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"fact2208": {
"value": "1.3 Significant estimates and judgements \u00a0
When preparing this Annual Report, Management \u00a0
\n\t\t\t\t\thas made a number of accounting judgements in \u00a0
\n\t\t\t\t\tapplying the accounting policies, which form the \u00a0
\n\t\t\t\t\tbasis for the recognition and measurement of assets, \u00a0
\n\t\t\t\t\tliabilities and disclosures provided. Further, Manage- \u00a0
\n\t\t\t\t\tment provides significant estimates regarding future \u00a0
\n\t\t\t\t\tdevelopments. These are regularly reassessed based \u00a0
\n\t\t\t\t\ton historical experience and other factors, which \u00a0
\n\t\t\t\t\tManagement assesses to be reliable, but which, \u00a0
\n\t\t\t\t\tby their nature, are associated with uncertainty and \u00a0
\n\t\t\t\t\tunpredictability. \u00a0
Significant estimates and judgements are predomi- \u00a0
\n\t\t\t\t\tnantly applied in relation to the recognition of revenue \u00a0
\n\t\t\t\t\tfrom construction contracts, impairment of goodwill \u00a0
\n\t\t\t\t\tand assessing the value of deferred tax assets. These \u00a0
\n\t\t\t\t\tassumptions may prove incomplete or incorrect, \u00a0
\n\t\t\t\t\tand unexpected events or circumstances may arise, \u00a0
\n\t\t\t\t\tbut the assumptions are considered reasonable and \u00a0
\n\t\t\t\t\treliable under the circumstances. \u00a0
\n\t\t\t\t\tFrom Management perspective the following esti- \u00a0
\n\t\t\t\t\tmates and judgements are considered significant \u00a0
\n\t\t\t\t\tand the applied estimates and judgements are further \u00a0
\n\t\t\t\t\tdescribed in the respective notes. \u00a0
Significant accounting \u00a0
\n\t\t\t\t\tImpact \u00a0
\n\t\t\t\t\tNote \u00a0
\n\t\t\t\t\testimate and judgement \u00a0
\n\t\t\t\t\tEstimate/ Judgement \u00a0
\n\t\t\t\t\tassessment1 \u00a0
\n\t\t\t\t\t2.1 Segment \u00a0
\n\t\t\t\t\tDetermine revenue recognition \u00a0
\n\t\t\t\t\tJudgement and estimate \u00a0
\n\t\t\t\t\tinformation \u00a0
\n\t\t\t\t\tfor projects (PoC) \u00a0
\n\t\t\t\t\tand revenue \u00a0
\n\t\t\t\t\t4.4 Contract \u00a0
\n\t\t\t\t\tValuation of construction contracts \u00a0
\n\t\t\t\t\tJudgement and estimate \u00a0
\n\t\t\t\t\tassets and \u00a0
\n\t\t\t\t\tliabilities \u00a0
\n\t\t\t\t\t2.5 Tax \u00a0
\n\t\t\t\t\tValuation of deferred tax assets \u00a0
\n\t\t\t\t\tJudgement and estimate \u00a0
\n\t\t\t\t\t3.3 Impairment \u00a0
\n\t\t\t\t\tEstimate the value-in-use of intangible \u00a0
\n\t\t\t\t\tEstimate \u00a0
\n\t\t\t\t\tof assets \u00a0
\n\t\t\t\t\tand tangible long-term assets \u00a0
\n\t\t\t\t\t7.3 Contingent \u00a0
\n\t\t\t\t\tDetermine recognition and \u00a0
\n\t\t\t\t\tJudgement and estimate \u00a0
\n\t\t\t\t\tliabilities \u00a0
\n\t\t\t\t\tmeasurement of obligations \u00a0
\n\t\t\t\t\t1 The numbers of boxes in the above assessment indicate the level of estimates and judgment applied, where five being the highest. \u00a0
Significant estimates \u00a0
\n\t\t\t\t\tA description of the Significant judgements and \u00a0
\n\t\t\t\t\taccounting estimates provided by Management are in- \u00a0
\n\t\t\t\t\tcluded in the respective sections to which they relate. \u00a0
Sensitivity \u00a0
\n\t\t\t\t\tSensitivity analyses often accompany significant \u00a0
\n\t\t\t\t\tjudgements and accounting estimates, and are \u00a0
\n\t\t\t\t\tincluded in the sections to which they relate. \u00a0
Significant judgements \u00a0
\n\t\t\t\t\tCable projects are to a certain degree measured based on management \u00a0
\n\t\t\t\t\tjudgement in terms of when to recognize revenue and how to calculate \u00a0
\n\t\t\t\t\tthe revenue in terms of stage-of-completion and estimated profit on \u00a0
\n\t\t\t\t\teach project. The estimates include a risk provision, which is based on \u00a0
\n\t\t\t\t\tan assessment of the specific risks that each project is exposed to. The \u00a0
\n\t\t\t\t\tstage-of-completion is based on costs incurred against estimated total \u00a0
\n\t\t\t\t\tproject costs. In essence, the total project costs are therefore to a large \u00a0
\n\t\t\t\t\textent based on estimates. \u00a0
Assumptions for the recognition of revenue over time regarding larger \u00a0
\n\t\t\t\t\tcable projects are determined contract by contract. Control is transferred \u00a0
\n\t\t\t\t\tas the project progresses, based on assumptions such as: \u00a0
\n\t\t\t\t\tDeliveries being approved on an ongoing basis \u00a0
\n\t\t\t\t\t\u25a0
\n\t\t\t\t\tNKT Group\u2019s ability to provide products according to specification and \u00a0
\n\t\t\t\t\t\u25a0
\n\t\t\t\t\tthe risk that the cable is rejected \u00a0
\n\t\t\t\t\tCustomer takes over risk and legal title to the cable installation on an \u00a0
\n\t\t\t\t\t\u25a0
\n\t\t\t\t\ton-going basis, and \u00a0
\n\t\t\t\t\tMilestone payments from the customer. \u00a0
Significant estimates \u00a0
\n\t\t\t\t\tThe measurement of deferred tax assets and liabilities \u00a0
\n\t\t\t\t\tis based on the corporate tax rate applicable in the \u00a0
\n\t\t\t\t\tyears when the assets and liabilities are expected \u00a0
\n\t\t\t\t\tto be utilized. The measurement of the tax assets \u00a0
\n\t\t\t\t\tis based on budgets and estimates for the coming \u00a0
\n\t\t\t\t\tyears, which by nature are subject to uncertainty. \u00a0
\n\t\t\t\t\tAs a result, there can be a substantial difference \u00a0
\n\t\t\t\t\tbetween the expected use of the tax asset and actual \u00a0
\n\t\t\t\t\tuse of the tax asset related to previous years in the \u00a0
\n\t\t\t\t\tconsolidated income statement. \u00a0
\n\t\t\t\t\tThe majority of the deferred tax assets relate to \u00a0
\n\t\t\t\t\tNKT Group\u2019s German tax unit. The utilization of the \u00a0
\n\t\t\t\t\tGerman tax asset is depending on a successful \u00a0
\n\t\t\t\t\tturn-around of high-voltage business. The tax losses \u00a0
\n\t\t\t\t\tcarried forward from the German tax unit increased \u00a0
\n\t\t\t\t\tfrom EUR 311.8m in 2021 to EUR 387.9m in 2022. \u00a0
\n\t\t\t\t\tThe total deferred tax value amounts to EUR 124.1m. \u00a0
\n\t\t\t\t\tNKT Group has recognized a deferred tax hereof of \u00a0
\n\t\t\t\t\tEUR 30.7m at year-end (EUR 29.9m in 2021). \u00a0
\n\t\t\t\t\tThe tax losses carried forward in the Danish tax unit \u00a0
\n\t\t\t\t\twere fully utilized during 2022. \u00a0
\n\t\t\t\t\tThe tax losses carried forward at end-2022 in the \u00a0
\n\t\t\t\t\tSwedish tax unit sums up to EUR 6.3m, which lead \u00a0
\n\t\t\t\t\tto a deferred tax asset of EUR 1.3m (EUR 11.2m in \u00a0
\n\t\t\t\t\t2021). Further, a deferred tax asset of EUR 11.3 relat- \u00a0
\n\t\t\t\t\ting to interest carried forward has been recognized \u00a0
\n\t\t\t\t\t(EUR 12.0m in 2021). The deferred tax asset has \u00a0
\n\t\t\t\t\tbeen fully offset against a deferred tax liability. \u00a0
\n\t\t\t\t\tTax losses in Germany and Sweden has no expiry \u00a0
\n\t\t\t\t\tdate. \u00a0
NKT Group reported a net deferred tax liability of EUR \u00a0
\n\t\t\t\t\t43.2m (EUR 46.9m in 2021). The development mainly \u00a0
\n\t\t\t\t\trelates to deferred tax liability related to hedge ac- \u00a0
\n\t\t\t\t\tcounting recognized in other comprehensive income \u00a0
\n\t\t\t\t\tand deferred tax liability related to timing differences \u00a0
\n\t\t\t\t\tin revenue recognition in Germany and utilization of \u00a0
\n\t\t\t\t\ttax losses carried forward in Denmark and Sweden. \u00a0
Management judgement regarding deferred \u00a0
\n\t\t\t\t\ttax assets and provision for uncertain tax \u00a0
\n\t\t\t\t\tpositions \u00a0
\n\t\t\t\t\tDeferred tax assets relating to tax losses carried \u00a0
\n\t\t\t\t\tforward are recognized when Management assesses \u00a0
\n\t\t\t\t\tthat these can be utilized in a foreseeable future. \u00a0
\n\t\t\t\t\tThe assessment is performed at the reporting date \u00a0
\n\t\t\t\t\tconsidering local tax legislation and Management\u2019s \u00a0
\n\t\t\t\t\tbusiness plans. Planned changes to capital structure \u00a0
\n\t\t\t\t\tare included in the assessment. \u00a0
\n\t\t\t\t\tAs the NKT Group conducts business around the \u00a0
\n\t\t\t\t\tworld, tax and transfer pricing disputes with local \u00a0
\n\t\t\t\t\ttax authorities may occur. When assessing the \u00a0
\n\t\t\t\t\texpected outcome of these possible disputes, NKT \u00a0
\n\t\t\t\t\tGroup applies IFRIC 23 \u2018Uncertainty over Income \u00a0
\n\t\t\t\t\tTax Treatments\u2019 and methods directed herein when \u00a0
\n\t\t\t\t\tmaking provisions for uncertain tax positions. As \u00a0
\n\t\t\t\t\tthis is an assessment, the actual obligations may \u00a0
\n\t\t\t\t\tdeviate and will depend on the result of litigations \u00a0
\n\t\t\t\t\tand settlements with the tax authorities. Any taxes \u00a0
\n\t\t\t\t\trelating to tax disputes are included in \u2018Income tax \u00a0
\n\t\t\t\t\treceivables\u2019, \u2018Income tax payables\u2019 and \u2018Deferred tax\u2019 \u00a0
\n\t\t\t\t\tbased on an assessment of the most likely outcome \u00a0
\n\t\t\t\t\tof the disputes. \u00a0
Significant estimates \u00a0
\n\t\t\t\t\tGoodwill \u00a0
\n\t\t\t\t\tGoodwill has been allocated to the cash-generating units according to the split present- \u00a0
\n\t\t\t\t\ted below. The goodwill level in Applications was immaterial and the assumptions for the \u00a0
\n\t\t\t\t\timpairment test of goodwill are not described any further for this cash-generating unit. The \u00a0
\n\t\t\t\t\tcarrying amount of goodwill was as follows: \u00a0
Amounts in EURm \u00a0
\n\t\t\t\t\t2022 \u00a0
\n\t\t\t\t\t2021 \u00a0
\n\t\t\t\t\tSolutions \u00a0
\n\t\t\t\t\t298.1 \u00a0
\n\t\t\t\t\t323.3 \u00a0
\n\t\t\t\t\tApplications \u00a0
\n\t\t\t\t\t6.7 \u00a0
\n\t\t\t\t\t6.5 \u00a0
\n\t\t\t\t\tService & Accessories \u00a0
\n\t\t\t\t\t45.6 \u00a0
\n\t\t\t\t\t49.3 \u00a0
\n\t\t\t\t\tNKT Photonics \u00a0
\n\t\t\t\t\t-
\n\t\t\t\t\t25.3 \u00a0
\n\t\t\t\t\tTotal \u00a0
\n\t\t\t\t\t350.4 \u00a0
\n\t\t\t\t\t404.4 \u00a0
Key Assumptions \u00a0
\n\t\t\t\t\tThe recoverable amount is based on a value-in-use calculation. For all cash-generating \u00a0
\n\t\t\t\t\tunits, the calculation uses cash flow projections (budget period) based on financial budget \u00a0
\n\t\t\t\t\tfor 2023 and financial forecasts for 2024\u20132028, hence a 6 year budget period. Significant \u00a0
\n\t\t\t\t\tparameters in these estimates are revenue growth, EBITDA margin, discount rate, working \u00a0
\n\t\t\t\t\tcapital and growth expectations for the terminal period. \u00a0
\n\t\t\t\t\tThe discount rate has been revised for each cash-generating unit to reflect the latest market \u00a0
\n\t\t\t\t\tassumptions for the risk-free rate based on a 5-year German government bond, the equity \u00a0
\n\t\t\t\t\trisk premium and the cost of debt.The long-term growth rate for the terminal period is based \u00a0
\n\t\t\t\t\ton the expected growth in the world economy as well as long-term development for the \u00a0
\n\t\t\t\t\tindustries and markets in which the cash-generating units operate. \u00a0
\n\t\t\t\t\tGroup Management determines, as illustrated on the following page, the expected annual \u00a0
\n\t\t\t\t\tgrowth rate in the budget period, the expected margins based on historical experience and \u00a0
\n\t\t\t\t\tthe assumptions about expected market developments. These assumptions are by nature \u00a0
\n\t\t\t\t\tsubject to uncertainty, which is why attention to the sensitivity analysis provided is recom- \u00a0
\n\t\t\t\t\tmended. \u00a0
Significant estimates \u00a0
\n\t\t\t\t\tConstruction contracts are measured based on Management\u2019s judge- \u00a0
\n\t\t\t\t\tment in terms of stage-of-completion and estimated profit on a project- \u00a0
\n\t\t\t\t\tby-project approach to estimate the expected selling prices which affect \u00a0
\n\t\t\t\t\tthe value recognized in the balance sheet. The estimate includes a risk \u00a0
provision, which is based on an assessment of the specific risk that each \u00a0
\n\t\t\t\t\tproject is exposed to. Therefore, the recognition of revenue and related \u00a0
\n\t\t\t\t\tcontract assets and liabilities are subject to uncertainty. Management\u2019s \u00a0
\n\t\t\t\t\testimates are based on the most likely outcomes of the projects. \u00a0
Significant judgments \u00a0
\n\t\t\t\t\tDisclosures for contingent assets and liabilities and when they must \u00a0
\n\t\t\t\t\tbe recognized is derived from evaluations of the expected outcome of \u00a0
\n\t\t\t\t\tthe individual issues. These evaluations are based on legal opinions of \u00a0
\n\t\t\t\t\tthe agreements contracted, which in significant instances also include \u00a0
\n\t\t\t\t\topinions obtained from external advisors, including lawyers. \u00a0
",
"dimensions": {
"concept": "ifrs-full:DisclosureOfAccountingJudgementsAndEstimatesExplanatory",
"language": "en",
"entity": "scheme:529900197LKWCEQ0NL18",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"fact2206": {
"value": "New standards, interpretations and \u00a0
\n\t\t\t\t\tamendments adopted by NKT Group \u00a0
\n\t\t\t\t\tNKT Group has adopted all new or amended stand- \u00a0
\n\t\t\t\t\tards (IFRS) and interpretations (IFRIC) as adopted by \u00a0
\n\t\t\t\t\tthe EU and which are effective for the financial year 1 \u00a0
\n\t\t\t\t\tJanuary \u2013 31 December 2022. \u00a0
\n\t\t\t\t\tOn 1 January 2022, amendments to IFRS 3 Business \u00a0
\n\t\t\t\t\tCombinations; IAS 16 Property, Plant and Equipment; \u00a0
\n\t\t\t\t\tIAS 37 Provisions, Contingent Liabilities and Contin- \u00a0
\n\t\t\t\t\tgent Assets, and Annual Improvements 2018-2020 \u00a0
\n\t\t\t\t\tbecame effective. \u00a0
\n\t\t\t\t\tNone of the amendments had a material impact on \u00a0
\n\t\t\t\t\tthe NKT Group. \u00a0
New standards, interpretations and \u00a0
\n\t\t\t\t\tamendments not yet adopted by NKT Group \u00a0
\n\t\t\t\t\tIASB has issued a number of new or amended \u00a0
\n\t\t\t\t\taccounting standards and interpretations, some of \u00a0
\n\t\t\t\t\twhich are not yet endorsed by EU, and which are \u00a0
\n\t\t\t\t\tnot mandatory for reporting periods ending at 31 De- \u00a0
\n\t\t\t\t\tcember 2022. NKT Group expect to implement these \u00a0
\n\t\t\t\t\tnew and amended standards, when they become \u00a0
\n\t\t\t\t\tmandatory. \u00a0
\n\t\t\t\t\tNone of the standards and interpretations are expect- \u00a0
\n\t\t\t\t\ted to have a material impact on the NKT Group. \u00a0
",
"dimensions": {
"concept": "ifrs-full:DescriptionOfInitialApplicationOfStandardsOrInterpretations",
"language": "en",
"entity": "scheme:529900197LKWCEQ0NL18",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"fact2225": {
"value": "2.1 Segment information and revenue \u00a0
\n\t\t\t\t\tService & \u00a0
\n\t\t\t\t\tIntersegment \u00a0
\n\t\t\t\t\tAmounts in EURm \u00a0
\n\t\t\t\t\tSolutions \u00a0
\n\t\t\t\t\tApplications \u00a0
\n\t\t\t\t\tAccessories Non
allocated \u00a0
\n\t\t\t\t\ttransact. \u00a0
\n\t\t\t\t\tTotal NKT \u00a0
\n\t\t\t\t\t2022 \u00a0
\n\t\t\t\t\tIncome statement \u00a0
\n\t\t\t\t\tGoods1) \u00a0
\n\t\t\t\t\t46.7 \u00a0
\n\t\t\t\t\t1,066.7 \u00a0
\n\t\t\t\t\t132.8 \u00a0
\n\t\t\t\t\t0.0 \u00a0
\n\t\t\t\t\t-38.2 \u00a0
\n\t\t\t\t\t1,208.0 \u00a0
\n\t\t\t\t\tService, etc.1) \u00a0
\n\t\t\t\t\t16.9 \u00a0
\n\t\t\t\t\t0.0 \u00a0
\n\t\t\t\t\t7.3 \u00a0
\n\t\t\t\t\t0.0 \u00a0
\n\t\t\t\t\t-2.6 \u00a0
\n\t\t\t\t\t21.6 \u00a0
\n\t\t\t\t\tConstruction contracts2) \u00a0
\n\t\t\t\t\t803.5 \u00a0
\n\t\t\t\t\t0.0 \u00a0
\n\t\t\t\t\t53.2 \u00a0
\n\t\t\t\t\t0.0 \u00a0
\n\t\t\t\t\t-7.3 \u00a0
\n\t\t\t\t\t849.4 \u00a0
\n\t\t\t\t\tRevenue (market prices) \u00a0
\n\t\t\t\t\t867.1 \u00a0
\n\t\t\t\t\t1,066.7 \u00a0
\n\t\t\t\t\t193.3 \u00a0
\n\t\t\t\t\t0.0 \u00a0
\n\t\t\t\t\t-48.1 \u00a0
\n\t\t\t\t\t2,079.0 \u00a0
\n\t\t\t\t\tAdjustment of market prices to std. metal prices \u00a0
\n\t\t\t\t\t-117.6 \u00a0
\n\t\t\t\t\t-514.7 \u00a0
\n\t\t\t\t\t-0.1 \u00a0
\n\t\t\t\t\t0.0 \u00a0
\n\t\t\t\t\t0.2 \u00a0
\n\t\t\t\t\t-632.2 \u00a0
\n\t\t\t\t\tRevenue (std. metal prices) \u00a0
\n\t\t\t\t\t749.5 \u00a0
\n\t\t\t\t\t552.0 \u00a0
\n\t\t\t\t\t193.2 \u00a0
\n\t\t\t\t\t0.0 \u00a0
\n\t\t\t\t\t-47.9 \u00a0
\n\t\t\t\t\t1,446.8 \u00a0
\n\t\t\t\t\tCosts and other income, net (excl. one-off items) \u00a0
\n\t\t\t\t\t-761.2 \u00a0
\n\t\t\t\t\t-1,038.2 \u00a0
\n\t\t\t\t\t-167.6 \u00a0
\n\t\t\t\t\t-5.6 \u00a0
\n\t\t\t\t\t48.1 \u00a0
\n\t\t\t\t\t-1,924.5 \u00a0
\n\t\t\t\t\tOperational EBITDA \u00a0
\n\t\t\t\t\t105.9 \u00a0
\n\t\t\t\t\t28.5 \u00a0
\n\t\t\t\t\t25.7 \u00a0
\n\t\t\t\t\t-5.6 \u00a0
\n\t\t\t\t\t0.0 \u00a0
\n\t\t\t\t\t154.5 \u00a0
\n\t\t\t\t\tDepreciation, amortization and impairment \u00a0
\n\t\t\t\t\t-64.3 \u00a0
\n\t\t\t\t\t-14.9 \u00a0
\n\t\t\t\t\t-4.2 \u00a0
\n\t\t\t\t\t-2.0 \u00a0
\n\t\t\t\t\t0.0 \u00a0
\n\t\t\t\t\t-85.4 \u00a0
\n\t\t\t\t\tOperational EBIT \u00a0
\n\t\t\t\t\t41.6 \u00a0
\n\t\t\t\t\t13.6 \u00a0
\n\t\t\t\t\t21.5 \u00a0
\n\t\t\t\t\t-7.6 \u00a0
\n\t\t\t\t\t0.0 \u00a0
\n\t\t\t\t\t69.1 \u00a0
\n\t\t\t\t\tWorking capital \u00a0
\n\t\t\t\t\t-437.2 \u00a0
\n\t\t\t\t\t89.7 \u00a0
\n\t\t\t\t\t36.2 \u00a0
\n\t\t\t\t\t8.3 \u00a0
\n\t\t\t\t\t0.0 \u00a0
\n\t\t\t\t\t-303.0 \u00a0
\n\t\t\t\t\t2021 \u00a0
\n\t\t\t\t\tIncome statement \u00a0
\n\t\t\t\t\tGoods1) \u00a0
\n\t\t\t\t\t37.4 \u00a0
\n\t\t\t\t\t900.0 \u00a0
\n\t\t\t\t\t118.8 \u00a0
\n\t\t\t\t\t0.0 \u00a0
\n\t\t\t\t\t-21.2 \u00a0
\n\t\t\t\t\t1,035.0 \u00a0
\n\t\t\t\t\tService, etc.1) \u00a0
\n\t\t\t\t\t15.2 \u00a0
\n\t\t\t\t\t0.0 \u00a0
\n\t\t\t\t\t6.7 \u00a0
\n\t\t\t\t\t0.0 \u00a0
\n\t\t\t\t\t-2.9 \u00a0
\n\t\t\t\t\t19.0 \u00a0
\n\t\t\t\t\tConstruction contracts2) \u00a0
\n\t\t\t\t\t702.6 \u00a0
\n\t\t\t\t\t0.0 \u00a0
\n\t\t\t\t\t80.5 \u00a0
\n\t\t\t\t\t0.0 \u00a0
\n\t\t\t\t\t-9.2 \u00a0
\n\t\t\t\t\t773.9 \u00a0
\n\t\t\t\t\tRevenue (market prices) \u00a0
\n\t\t\t\t\t755.2 \u00a0
\n\t\t\t\t\t900.0 \u00a0
\n\t\t\t\t\t206.0 \u00a0
\n\t\t\t\t\t0.0 \u00a0
\n\t\t\t\t\t-33.3 \u00a0
\n\t\t\t\t\t1,827.9 \u00a0
\n\t\t\t\t\tAdjustment of market prices to std. metal prices \u00a0
\n\t\t\t\t\t-115.1 \u00a0
\n\t\t\t\t\t-449.8 \u00a0
\n\t\t\t\t\t-0.2 \u00a0
\n\t\t\t\t\t0.0 \u00a0
\n\t\t\t\t\t0.3 \u00a0
\n\t\t\t\t\t-564.8 \u00a0
\n\t\t\t\t\tRevenue (std. metal prices) \u00a0
\n\t\t\t\t\t640.1 \u00a0
\n\t\t\t\t\t450.2 \u00a0
\n\t\t\t\t\t205.8 \u00a0
\n\t\t\t\t\t0.0 \u00a0
\n\t\t\t\t\t-33.0 \u00a0
\n\t\t\t\t\t1,263.1 \u00a0
\n\t\t\t\t\tCosts and other income, net (excl. one-off items) \u00a0
\n\t\t\t\t\t-672.1 \u00a0
\n\t\t\t\t\t-871.5 \u00a0
\n\t\t\t\t\t-173.2 \u00a0
\n\t\t\t\t\t-13.3 \u00a0
\n\t\t\t\t\t33.3 \u00a0
\n\t\t\t\t\t-1,696.8 \u00a0
\n\t\t\t\t\tOperational EBITDA \u00a0
\n\t\t\t\t\t83.1 \u00a0
\n\t\t\t\t\t28.5 \u00a0
\n\t\t\t\t\t32.8 \u00a0
\n\t\t\t\t\t-13.3 \u00a0
\n\t\t\t\t\t0.0 \u00a0
\n\t\t\t\t\t131.1 \u00a0
\n\t\t\t\t\tDepreciation, amortization and impairment \u00a0
\n\t\t\t\t\t-69.1 \u00a0
\n\t\t\t\t\t-15.4 \u00a0
\n\t\t\t\t\t-4.4 \u00a0
\n\t\t\t\t\t-5.6 \u00a0
\n\t\t\t\t\t0.0 \u00a0
\n\t\t\t\t\t-94.5 \u00a0
\n\t\t\t\t\tOperational EBIT \u00a0
\n\t\t\t\t\t14.0 \u00a0
\n\t\t\t\t\t13.1 \u00a0
\n\t\t\t\t\t28.4 \u00a0
\n\t\t\t\t\t-18.9 \u00a0
\n\t\t\t\t\t0.0 \u00a0
\n\t\t\t\t\t36.6 \u00a0
\n\t\t\t\t\tWorking capital \u00a0
\n\t\t\t\t\t-152.8 \u00a0
\n\t\t\t\t\t64.3 \u00a0
\n\t\t\t\t\t22.6 \u00a0
\n\t\t\t\t\t-27.3 \u00a0
\n\t\t\t\t\t0.0 \u00a0
\n\t\t\t\t\t-93.2 \u00a0
\n\t\t\t\t\tRevenue from the sale of goods and services are recognized at a point in time. \u00a0
\n\t\t\t\t\t1) \u00a0
\n\t\t\t\t\t2) \u00a0
\n\t\t\t\t\tRevenue from construction contracts are recognized over time. \u00a0
Amounts in EURm \u00a0
\n\t\t\t\t\t2022 \u00a0
\n\t\t\t\t\t2021 \u00a0
\n\t\t\t\t\tReconciliation to net result \u00a0
\n\t\t\t\t\tOperational EBITDA \u00a0
\n\t\t\t\t\t154.5 \u00a0
\n\t\t\t\t\t131.1 \u00a0
\n\t\t\t\t\tOne-off items \u00a0
\n\t\t\t\t\t0.1 \u00a0
\n\t\t\t\t\t-12.7 \u00a0
\n\t\t\t\t\tEBITDA \u00a0
\n\t\t\t\t\t154.6 \u00a0
\n\t\t\t\t\t118.4 \u00a0
\n\t\t\t\t\tDepreciation, amortization and impairment \u00a0
\n\t\t\t\t\t-85.4 \u00a0
\n\t\t\t\t\t-94.5 \u00a0
\n\t\t\t\t\tEBIT \u00a0
\n\t\t\t\t\t69.2 \u00a0
\n\t\t\t\t\t23.9 \u00a0
\n\t\t\t\t\tFinancial items, net \u00a0
\n\t\t\t\t\t9.1 \u00a0
\n\t\t\t\t\t-8.2 \u00a0
\n\t\t\t\t\tEBT \u00a0
\n\t\t\t\t\t78.3 \u00a0
\n\t\t\t\t\t15.7 \u00a0
\n\t\t\t\t\tTax \u00a0
\n\t\t\t\t\t-23.2 \u00a0
\n\t\t\t\t\t-3.8 \u00a0
\n\t\t\t\t\tNet result - continuing operations \u00a0
\n\t\t\t\t\t55.1 \u00a0
\n\t\t\t\t\t11.9 \u00a0
\n\t\t\t\t\tNet result - discontinued operations \u00a0
\n\t\t\t\t\t7.3 \u00a0
\n\t\t\t\t\t-7.8 \u00a0
\n\t\t\t\t\tNet result \u00a0
\n\t\t\t\t\t62.4 \u00a0
\n\t\t\t\t\t4.1 \u00a0
Geographical information \u00a0
\n\t\t\t\t\tProperty, plant \u00a0
\n\t\t\t\t\tand equitment and \u00a0
\n\t\t\t\t\tRevenue \u00a0
\n\t\t\t\t\tintangible assets \u00a0
\n\t\t\t\t\tAmounts in EURm \u00a0
\n\t\t\t\t\t2022 \u00a0
\n\t\t\t\t\t2021 \u00a0
\n\t\t\t\t\t2022 \u00a0
\n\t\t\t\t\t2021 \u00a0
\n\t\t\t\t\tDenmark \u00a0
\n\t\t\t\t\t120.5 \u00a0
\n\t\t\t\t\t126.1 \u00a0
\n\t\t\t\t\t11.5 \u00a0
\n\t\t\t\t\t46.3 \u00a0
\n\t\t\t\t\tGermany \u00a0
\n\t\t\t\t\t679.1 \u00a0
\n\t\t\t\t\t614.1 \u00a0
\n\t\t\t\t\t324.5 \u00a0
\n\t\t\t\t\t309.9 \u00a0
\n\t\t\t\t\tSweden \u00a0
\n\t\t\t\t\t154.8 \u00a0
\n\t\t\t\t\t150.4 \u00a0
\n\t\t\t\t\t837.3 \u00a0
\n\t\t\t\t\t833.8 \u00a0
\n\t\t\t\t\tUK \u00a0
\n\t\t\t\t\t359.1 \u00a0
\n\t\t\t\t\t306.9 \u00a0
\n\t\t\t\t\t18.8 \u00a0
\n\t\t\t\t\t21.7 \u00a0
\n\t\t\t\t\tPoland \u00a0
\n\t\t\t\t\t213.5 \u00a0
\n\t\t\t\t\t213.9 \u00a0
\n\t\t\t\t\t17.2 \u00a0
\n\t\t\t\t\t16.3 \u00a0
\n\t\t\t\t\tUSA \u00a0
\n\t\t\t\t\t99.6 \u00a0
\n\t\t\t\t\t4.4 \u00a0
\n\t\t\t\t\t0.1 \u00a0
\n\t\t\t\t\t6.9 \u00a0
\n\t\t\t\t\tNorway \u00a0
\n\t\t\t\t\t90.4 \u00a0
\n\t\t\t\t\t108.4 \u00a0
\n\t\t\t\t\t87.9 \u00a0
\n\t\t\t\t\t90.5 \u00a0
\n\t\t\t\t\tCzech Republic \u00a0
\n\t\t\t\t\t62.0 \u00a0
\n\t\t\t\t\t69.5 \u00a0
\n\t\t\t\t\t63.7 \u00a0
\n\t\t\t\t\t45.1 \u00a0
\n\t\t\t\t\tOther \u00a0
\n\t\t\t\t\t300.0 \u00a0
\n\t\t\t\t\t234.2 \u00a0
\n\t\t\t\t\t12.2 \u00a0
\n\t\t\t\t\t34.1 \u00a0
\n\t\t\t\t\tTotal \u00a0
\n\t\t\t\t\t2,079.0 \u00a0
\n\t\t\t\t\t1,827.9 \u00a0
\n\t\t\t\t\t1,373.2 \u00a0
\n\t\t\t\t\t1,404.6 \u00a0
Projects \u00a0
\n\t\t\t\t\tRevenue from the sale of cable projects accounted \u00a0
\n\t\t\t\t\tfor as construction contracts comprises sale of \u00a0
\n\t\t\t\t\tonshore and offshore highly customized cables in \u00a0
\n\t\t\t\t\tSolutions, delivery of highly customized spare cables \u00a0
\n\t\t\t\t\tin Service and larger projects in NKT Photonics. \u00a0
\n\t\t\t\t\tProjects are usually significant in amount, have a long \u00a0
\n\t\t\t\t\tlead time affecting the financial statements of more \u00a0
\n\t\t\t\t\treporting periods and have a high degree of project \u00a0
\n\t\t\t\t\tmanagement. Each project is normally considered \u00a0
\n\t\t\t\t\tone performance obligation as each project comprise \u00a0
\n\t\t\t\t\thighly interrelated and interdependent physical assets \u00a0
\n\t\t\t\t\tand services, such as production, installation and \u00a0
\n\t\t\t\t\tproject management. \u00a0
\n\t\t\t\t\tHowever, depending on the contract structure, the \u00a0
\n\t\t\t\t\tperformance obligation may consist of more than \u00a0
\n\t\t\t\t\tone contract. Cable projects are often sold as fixed \u00a0
\n\t\t\t\t\tprice contracts and revenue from these are therefore \u00a0
\n\t\t\t\t\trecognized over time by applying the percentage of \u00a0
\n\t\t\t\t\tcompletion (PoC) cost-to-cost method. \u00a0
Payment terms of a cable project contract usually \u00a0
\n\t\t\t\t\tcomprise the following payments: \u00a0
\n\t\t\t\t\tdown payment from the customer at contract \u00a0
\n\t\t\t\t\t\u25a0
\n\t\t\t\t\tinception, \u00a0
\n\t\t\t\t\tprogress payments, linked to project milestones, \u00a0
\n\t\t\t\t\t\u25a0
\n\t\t\t\t\tfinal payment upon completion and customer \u00a0
\n\t\t\t\t\t\u25a0
\n\t\t\t\t\tacceptance. \u00a0
\n\t\t\t\t\tNKT Group will usually obtain payment guarantees \u00a0
\n\t\t\t\t\tto minimize counter party risk during the execution of \u00a0
\n\t\t\t\t\tcable projects. \u00a0
Sale of products \u00a0
\n\t\t\t\t\tSale of products relates to the sale of smaller less \u00a0
\n\t\t\t\t\tcustomized cable projects, standardized cables \u00a0
\n\t\t\t\t\tand equipment. Small cable projects with little or no \u00a0
\n\t\t\t\t\tcustomization usually have a short lead time of less \u00a0
\n\t\t\t\t\tthan one year. Each delivered product is considered \u00a0
\n\t\t\t\t\tone performance obligation. Most of the products are \u00a0
\n\t\t\t\t\tsold at a fixed price and revenue is usually recognized \u00a0
\n\t\t\t\t\tat the point in time when the control of the products \u00a0
\n\t\t\t\t\ttransfers to the customers, usually upon delivery. \u00a0
\n\t\t\t\t\tFor standardized products, NKT Group is usually en- \u00a0
\n\t\t\t\t\ttitled to payment upon delivery, and payment terms \u00a0
\n\t\t\t\t\tvary by market but are usually short. \u00a0
Service contracts \u00a0
\n\t\t\t\t\tService contracts comprise various service elements \u00a0
\n\t\t\t\t\tto support power cable efficiency and prevent or \u00a0
\n\t\t\t\t\tmitigate power cable failures and can include up to \u00a0
\n\t\t\t\t\t365/24 hours support. Service delivered according \u00a0
\n\t\t\t\t\tto the contracts is considered as one performance \u00a0
\n\t\t\t\t\tobligation delivered over time. Revenue is accordingly \u00a0
\n\t\t\t\t\trecognized over the life of the contract. NKT Group is \u00a0
\n\t\t\t\t\teither entitled to payment once the service has been \u00a0
\n\t\t\t\t\tprovided or on a periodic basis. \u00a0
\n\t\t\t\t\tSpare parts and other repair work contracts are \u00a0
\n\t\t\t\t\tdetermined as one performance obligation. The \u00a0
\n\t\t\t\t\ttransaction price is usually variable, depending on \u00a0
\n\t\t\t\t\tthe produced output, and revenue is recognized \u00a0
\n\t\t\t\t\tover time, using the cost-to-cost method. In case \u00a0
\n\t\t\t\t\tof significant uncertainties related to measuring the \u00a0
\n\t\t\t\t\trevenue reliably, revenue is recognized according to \u00a0
\n\t\t\t\t\tpayments. NKT Group is entitled to payment once \u00a0
\n\t\t\t\t\tthe work or spare parts are delivered. \u00a0
Providing new highly customized spare cables is de- \u00a0
\n\t\t\t\t\tfined as one performance obligation. The transaction \u00a0
\n\t\t\t\t\tprice is usually fixed and revenue is typically recog- \u00a0
\n\t\t\t\t\tnized over time using the percentage of completion \u00a0
\n\t\t\t\t\t(PoC) cost-to-cost method. \u00a0
\n\t\t\t\t\tThe payment pattern for spare cables is similar to \u00a0
\n\t\t\t\t\tthe pattern for cable projects described above and \u00a0
\n\t\t\t\t\tNKT Group will usually obtain payment guarantees \u00a0
\n\t\t\t\t\tto minimize the risk during the execution of the cable \u00a0
\n\t\t\t\t\tproject. \u00a0
Accounting policy \u00a0
\n\t\t\t\t\tRevenue \u00a0
\n\t\t\t\t\tRevenue from construction contracts with customers \u00a0
\n\t\t\t\t\twith a high degree of individual customization and no \u00a0
\n\t\t\t\t\talternative use, are recognized as revenue over time, \u00a0
\n\t\t\t\t\tprovided that NKT Group has secured an enforceable \u00a0
\n\t\t\t\t\tright to payment for work performed at any time. \u00a0
\n\t\t\t\t\tThe revenue therefore corresponds to the sales price \u00a0
\n\t\t\t\t\tof work performed during the year (the percent- \u00a0
\n\t\t\t\t\tage-of-completion method). See note 4.4 for further \u00a0
\n\t\t\t\t\tinformation concerning construction contracts. \u00a0
\n\t\t\t\t\tRevenue from sale of goods for resale and finished \u00a0
\n\t\t\t\t\tgoods is recognized in the income statement when \u00a0
\n\t\t\t\t\tcontrol of the goods has transferred to the buyer, \u00a0
\n\t\t\t\t\tnormally at delivery, and it is virtually certain that the \u00a0
\n\t\t\t\t\tincome will be received. \u00a0
\n\t\t\t\t\tRevenue from services that include service packages \u00a0
\n\t\t\t\t\tand extended warranties relating to products and \u00a0
\n\t\t\t\t\tcontracts is recognized concurrently with the supply \u00a0
\n\t\t\t\t\tof those services. \u00a0
\n\t\t\t\t\tRevenue is measured at the fair value of the expected \u00a0
\n\t\t\t\t\tconsideration excluding VAT and taxes charged on \u00a0
\n\t\t\t\t\tbehalf of third parties. In determining the transaction \u00a0
\n\t\t\t\t\tprice, revenue is reduced by probable penalties and \u00a0
\n\t\t\t\t\tother claims and discounts that are payments to the \u00a0
\n\t\t\t\t\tcustomers. The transaction price is further adjusted \u00a0
\n\t\t\t\t\tfor any variable elements of the transaction price. The \u00a0
\n\t\t\t\t\tvariable amount is estimated at contract inception \u00a0
\n\t\t\t\t\tand revisited throughout the contract period. Variable \u00a0
\n\t\t\t\t\tincome is recognized as revenue when it is highly \u00a0
\n\t\t\t\t\tprobable that a reversal will not occur. \u00a0
",
"dimensions": {
"concept": "ifrs-full:DisclosureOfRevenueExplanatory",
"language": "en",
"entity": "scheme:529900197LKWCEQ0NL18",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"fact2234": {
"value": "2.1 Segment information and revenue \u00a0
\n\t\t\t\t\tService & \u00a0
\n\t\t\t\t\tIntersegment \u00a0
\n\t\t\t\t\tAmounts in EURm \u00a0
\n\t\t\t\t\tSolutions \u00a0
\n\t\t\t\t\tApplications \u00a0
\n\t\t\t\t\tAccessories Non
allocated \u00a0
\n\t\t\t\t\ttransact. \u00a0
\n\t\t\t\t\tTotal NKT \u00a0
\n\t\t\t\t\t2022 \u00a0
\n\t\t\t\t\tIncome statement \u00a0
\n\t\t\t\t\tGoods1) \u00a0
\n\t\t\t\t\t46.7 \u00a0
\n\t\t\t\t\t1,066.7 \u00a0
\n\t\t\t\t\t132.8 \u00a0
\n\t\t\t\t\t0.0 \u00a0
\n\t\t\t\t\t-38.2 \u00a0
\n\t\t\t\t\t1,208.0 \u00a0
\n\t\t\t\t\tService, etc.1) \u00a0
\n\t\t\t\t\t16.9 \u00a0
\n\t\t\t\t\t0.0 \u00a0
\n\t\t\t\t\t7.3 \u00a0
\n\t\t\t\t\t0.0 \u00a0
\n\t\t\t\t\t-2.6 \u00a0
\n\t\t\t\t\t21.6 \u00a0
\n\t\t\t\t\tConstruction contracts2) \u00a0
\n\t\t\t\t\t803.5 \u00a0
\n\t\t\t\t\t0.0 \u00a0
\n\t\t\t\t\t53.2 \u00a0
\n\t\t\t\t\t0.0 \u00a0
\n\t\t\t\t\t-7.3 \u00a0
\n\t\t\t\t\t849.4 \u00a0
\n\t\t\t\t\tRevenue (market prices) \u00a0
\n\t\t\t\t\t867.1 \u00a0
\n\t\t\t\t\t1,066.7 \u00a0
\n\t\t\t\t\t193.3 \u00a0
\n\t\t\t\t\t0.0 \u00a0
\n\t\t\t\t\t-48.1 \u00a0
\n\t\t\t\t\t2,079.0 \u00a0
\n\t\t\t\t\tAdjustment of market prices to std. metal prices \u00a0
\n\t\t\t\t\t-117.6 \u00a0
\n\t\t\t\t\t-514.7 \u00a0
\n\t\t\t\t\t-0.1 \u00a0
\n\t\t\t\t\t0.0 \u00a0
\n\t\t\t\t\t0.2 \u00a0
\n\t\t\t\t\t-632.2 \u00a0
\n\t\t\t\t\tRevenue (std. metal prices) \u00a0
\n\t\t\t\t\t749.5 \u00a0
\n\t\t\t\t\t552.0 \u00a0
\n\t\t\t\t\t193.2 \u00a0
\n\t\t\t\t\t0.0 \u00a0
\n\t\t\t\t\t-47.9 \u00a0
\n\t\t\t\t\t1,446.8 \u00a0
\n\t\t\t\t\tCosts and other income, net (excl. one-off items) \u00a0
\n\t\t\t\t\t-761.2 \u00a0
\n\t\t\t\t\t-1,038.2 \u00a0
\n\t\t\t\t\t-167.6 \u00a0
\n\t\t\t\t\t-5.6 \u00a0
\n\t\t\t\t\t48.1 \u00a0
\n\t\t\t\t\t-1,924.5 \u00a0
\n\t\t\t\t\tOperational EBITDA \u00a0
\n\t\t\t\t\t105.9 \u00a0
\n\t\t\t\t\t28.5 \u00a0
\n\t\t\t\t\t25.7 \u00a0
\n\t\t\t\t\t-5.6 \u00a0
\n\t\t\t\t\t0.0 \u00a0
\n\t\t\t\t\t154.5 \u00a0
\n\t\t\t\t\tDepreciation, amortization and impairment \u00a0
\n\t\t\t\t\t-64.3 \u00a0
\n\t\t\t\t\t-14.9 \u00a0
\n\t\t\t\t\t-4.2 \u00a0
\n\t\t\t\t\t-2.0 \u00a0
\n\t\t\t\t\t0.0 \u00a0
\n\t\t\t\t\t-85.4 \u00a0
\n\t\t\t\t\tOperational EBIT \u00a0
\n\t\t\t\t\t41.6 \u00a0
\n\t\t\t\t\t13.6 \u00a0
\n\t\t\t\t\t21.5 \u00a0
\n\t\t\t\t\t-7.6 \u00a0
\n\t\t\t\t\t0.0 \u00a0
\n\t\t\t\t\t69.1 \u00a0
\n\t\t\t\t\tWorking capital \u00a0
\n\t\t\t\t\t-437.2 \u00a0
\n\t\t\t\t\t89.7 \u00a0
\n\t\t\t\t\t36.2 \u00a0
\n\t\t\t\t\t8.3 \u00a0
\n\t\t\t\t\t0.0 \u00a0
\n\t\t\t\t\t-303.0 \u00a0
\n\t\t\t\t\t2021 \u00a0
\n\t\t\t\t\tIncome statement \u00a0
\n\t\t\t\t\tGoods1) \u00a0
\n\t\t\t\t\t37.4 \u00a0
\n\t\t\t\t\t900.0 \u00a0
\n\t\t\t\t\t118.8 \u00a0
\n\t\t\t\t\t0.0 \u00a0
\n\t\t\t\t\t-21.2 \u00a0
\n\t\t\t\t\t1,035.0 \u00a0
\n\t\t\t\t\tService, etc.1) \u00a0
\n\t\t\t\t\t15.2 \u00a0
\n\t\t\t\t\t0.0 \u00a0
\n\t\t\t\t\t6.7 \u00a0
\n\t\t\t\t\t0.0 \u00a0
\n\t\t\t\t\t-2.9 \u00a0
\n\t\t\t\t\t19.0 \u00a0
\n\t\t\t\t\tConstruction contracts2) \u00a0
\n\t\t\t\t\t702.6 \u00a0
\n\t\t\t\t\t0.0 \u00a0
\n\t\t\t\t\t80.5 \u00a0
\n\t\t\t\t\t0.0 \u00a0
\n\t\t\t\t\t-9.2 \u00a0
\n\t\t\t\t\t773.9 \u00a0
\n\t\t\t\t\tRevenue (market prices) \u00a0
\n\t\t\t\t\t755.2 \u00a0
\n\t\t\t\t\t900.0 \u00a0
\n\t\t\t\t\t206.0 \u00a0
\n\t\t\t\t\t0.0 \u00a0
\n\t\t\t\t\t-33.3 \u00a0
\n\t\t\t\t\t1,827.9 \u00a0
\n\t\t\t\t\tAdjustment of market prices to std. metal prices \u00a0
\n\t\t\t\t\t-115.1 \u00a0
\n\t\t\t\t\t-449.8 \u00a0
\n\t\t\t\t\t-0.2 \u00a0
\n\t\t\t\t\t0.0 \u00a0
\n\t\t\t\t\t0.3 \u00a0
\n\t\t\t\t\t-564.8 \u00a0
\n\t\t\t\t\tRevenue (std. metal prices) \u00a0
\n\t\t\t\t\t640.1 \u00a0
\n\t\t\t\t\t450.2 \u00a0
\n\t\t\t\t\t205.8 \u00a0
\n\t\t\t\t\t0.0 \u00a0
\n\t\t\t\t\t-33.0 \u00a0
\n\t\t\t\t\t1,263.1 \u00a0
\n\t\t\t\t\tCosts and other income, net (excl. one-off items) \u00a0
\n\t\t\t\t\t-672.1 \u00a0
\n\t\t\t\t\t-871.5 \u00a0
\n\t\t\t\t\t-173.2 \u00a0
\n\t\t\t\t\t-13.3 \u00a0
\n\t\t\t\t\t33.3 \u00a0
\n\t\t\t\t\t-1,696.8 \u00a0
\n\t\t\t\t\tOperational EBITDA \u00a0
\n\t\t\t\t\t83.1 \u00a0
\n\t\t\t\t\t28.5 \u00a0
\n\t\t\t\t\t32.8 \u00a0
\n\t\t\t\t\t-13.3 \u00a0
\n\t\t\t\t\t0.0 \u00a0
\n\t\t\t\t\t131.1 \u00a0
\n\t\t\t\t\tDepreciation, amortization and impairment \u00a0
\n\t\t\t\t\t-69.1 \u00a0
\n\t\t\t\t\t-15.4 \u00a0
\n\t\t\t\t\t-4.4 \u00a0
\n\t\t\t\t\t-5.6 \u00a0
\n\t\t\t\t\t0.0 \u00a0
\n\t\t\t\t\t-94.5 \u00a0
\n\t\t\t\t\tOperational EBIT \u00a0
\n\t\t\t\t\t14.0 \u00a0
\n\t\t\t\t\t13.1 \u00a0
\n\t\t\t\t\t28.4 \u00a0
\n\t\t\t\t\t-18.9 \u00a0
\n\t\t\t\t\t0.0 \u00a0
\n\t\t\t\t\t36.6 \u00a0
\n\t\t\t\t\tWorking capital \u00a0
\n\t\t\t\t\t-152.8 \u00a0
\n\t\t\t\t\t64.3 \u00a0
\n\t\t\t\t\t22.6 \u00a0
\n\t\t\t\t\t-27.3 \u00a0
\n\t\t\t\t\t0.0 \u00a0
\n\t\t\t\t\t-93.2 \u00a0
\n\t\t\t\t\tRevenue from the sale of goods and services are recognized at a point in time. \u00a0
\n\t\t\t\t\t1) \u00a0
\n\t\t\t\t\t2) \u00a0
\n\t\t\t\t\tRevenue from construction contracts are recognized over time. \u00a0
Amounts in EURm \u00a0
\n\t\t\t\t\t2022 \u00a0
\n\t\t\t\t\t2021 \u00a0
\n\t\t\t\t\tReconciliation to net result \u00a0
\n\t\t\t\t\tOperational EBITDA \u00a0
\n\t\t\t\t\t154.5 \u00a0
\n\t\t\t\t\t131.1 \u00a0
\n\t\t\t\t\tOne-off items \u00a0
\n\t\t\t\t\t0.1 \u00a0
\n\t\t\t\t\t-12.7 \u00a0
\n\t\t\t\t\tEBITDA \u00a0
\n\t\t\t\t\t154.6 \u00a0
\n\t\t\t\t\t118.4 \u00a0
\n\t\t\t\t\tDepreciation, amortization and impairment \u00a0
\n\t\t\t\t\t-85.4 \u00a0
\n\t\t\t\t\t-94.5 \u00a0
\n\t\t\t\t\tEBIT \u00a0
\n\t\t\t\t\t69.2 \u00a0
\n\t\t\t\t\t23.9 \u00a0
\n\t\t\t\t\tFinancial items, net \u00a0
\n\t\t\t\t\t9.1 \u00a0
\n\t\t\t\t\t-8.2 \u00a0
\n\t\t\t\t\tEBT \u00a0
\n\t\t\t\t\t78.3 \u00a0
\n\t\t\t\t\t15.7 \u00a0
\n\t\t\t\t\tTax \u00a0
\n\t\t\t\t\t-23.2 \u00a0
\n\t\t\t\t\t-3.8 \u00a0
\n\t\t\t\t\tNet result - continuing operations \u00a0
\n\t\t\t\t\t55.1 \u00a0
\n\t\t\t\t\t11.9 \u00a0
\n\t\t\t\t\tNet result - discontinued operations \u00a0
\n\t\t\t\t\t7.3 \u00a0
\n\t\t\t\t\t-7.8 \u00a0
\n\t\t\t\t\tNet result \u00a0
\n\t\t\t\t\t62.4 \u00a0
\n\t\t\t\t\t4.1 \u00a0
Geographical information \u00a0
\n\t\t\t\t\tProperty, plant \u00a0
\n\t\t\t\t\tand equitment and \u00a0
\n\t\t\t\t\tRevenue \u00a0
\n\t\t\t\t\tintangible assets \u00a0
\n\t\t\t\t\tAmounts in EURm \u00a0
\n\t\t\t\t\t2022 \u00a0
\n\t\t\t\t\t2021 \u00a0
\n\t\t\t\t\t2022 \u00a0
\n\t\t\t\t\t2021 \u00a0
\n\t\t\t\t\tDenmark \u00a0
\n\t\t\t\t\t120.5 \u00a0
\n\t\t\t\t\t126.1 \u00a0
\n\t\t\t\t\t11.5 \u00a0
\n\t\t\t\t\t46.3 \u00a0
\n\t\t\t\t\tGermany \u00a0
\n\t\t\t\t\t679.1 \u00a0
\n\t\t\t\t\t614.1 \u00a0
\n\t\t\t\t\t324.5 \u00a0
\n\t\t\t\t\t309.9 \u00a0
\n\t\t\t\t\tSweden \u00a0
\n\t\t\t\t\t154.8 \u00a0
\n\t\t\t\t\t150.4 \u00a0
\n\t\t\t\t\t837.3 \u00a0
\n\t\t\t\t\t833.8 \u00a0
\n\t\t\t\t\tUK \u00a0
\n\t\t\t\t\t359.1 \u00a0
\n\t\t\t\t\t306.9 \u00a0
\n\t\t\t\t\t18.8 \u00a0
\n\t\t\t\t\t21.7 \u00a0
\n\t\t\t\t\tPoland \u00a0
\n\t\t\t\t\t213.5 \u00a0
\n\t\t\t\t\t213.9 \u00a0
\n\t\t\t\t\t17.2 \u00a0
\n\t\t\t\t\t16.3 \u00a0
\n\t\t\t\t\tUSA \u00a0
\n\t\t\t\t\t99.6 \u00a0
\n\t\t\t\t\t4.4 \u00a0
\n\t\t\t\t\t0.1 \u00a0
\n\t\t\t\t\t6.9 \u00a0
\n\t\t\t\t\tNorway \u00a0
\n\t\t\t\t\t90.4 \u00a0
\n\t\t\t\t\t108.4 \u00a0
\n\t\t\t\t\t87.9 \u00a0
\n\t\t\t\t\t90.5 \u00a0
\n\t\t\t\t\tCzech Republic \u00a0
\n\t\t\t\t\t62.0 \u00a0
\n\t\t\t\t\t69.5 \u00a0
\n\t\t\t\t\t63.7 \u00a0
\n\t\t\t\t\t45.1 \u00a0
\n\t\t\t\t\tOther \u00a0
\n\t\t\t\t\t300.0 \u00a0
\n\t\t\t\t\t234.2 \u00a0
\n\t\t\t\t\t12.2 \u00a0
\n\t\t\t\t\t34.1 \u00a0
\n\t\t\t\t\tTotal \u00a0
\n\t\t\t\t\t2,079.0 \u00a0
\n\t\t\t\t\t1,827.9 \u00a0
\n\t\t\t\t\t1,373.2 \u00a0
\n\t\t\t\t\t1,404.6 \u00a0
Projects \u00a0
\n\t\t\t\t\tRevenue from the sale of cable projects accounted \u00a0
\n\t\t\t\t\tfor as construction contracts comprises sale of \u00a0
\n\t\t\t\t\tonshore and offshore highly customized cables in \u00a0
\n\t\t\t\t\tSolutions, delivery of highly customized spare cables \u00a0
\n\t\t\t\t\tin Service and larger projects in NKT Photonics. \u00a0
\n\t\t\t\t\tProjects are usually significant in amount, have a long \u00a0
\n\t\t\t\t\tlead time affecting the financial statements of more \u00a0
\n\t\t\t\t\treporting periods and have a high degree of project \u00a0
\n\t\t\t\t\tmanagement. Each project is normally considered \u00a0
\n\t\t\t\t\tone performance obligation as each project comprise \u00a0
\n\t\t\t\t\thighly interrelated and interdependent physical assets \u00a0
\n\t\t\t\t\tand services, such as production, installation and \u00a0
\n\t\t\t\t\tproject management. \u00a0
\n\t\t\t\t\tHowever, depending on the contract structure, the \u00a0
\n\t\t\t\t\tperformance obligation may consist of more than \u00a0
\n\t\t\t\t\tone contract. Cable projects are often sold as fixed \u00a0
\n\t\t\t\t\tprice contracts and revenue from these are therefore \u00a0
\n\t\t\t\t\trecognized over time by applying the percentage of \u00a0
\n\t\t\t\t\tcompletion (PoC) cost-to-cost method. \u00a0
Payment terms of a cable project contract usually \u00a0
\n\t\t\t\t\tcomprise the following payments: \u00a0
\n\t\t\t\t\tdown payment from the customer at contract \u00a0
\n\t\t\t\t\t\u25a0
\n\t\t\t\t\tinception, \u00a0
\n\t\t\t\t\tprogress payments, linked to project milestones, \u00a0
\n\t\t\t\t\t\u25a0
\n\t\t\t\t\tfinal payment upon completion and customer \u00a0
\n\t\t\t\t\t\u25a0
\n\t\t\t\t\tacceptance. \u00a0
\n\t\t\t\t\tNKT Group will usually obtain payment guarantees \u00a0
\n\t\t\t\t\tto minimize counter party risk during the execution of \u00a0
\n\t\t\t\t\tcable projects. \u00a0
Sale of products \u00a0
\n\t\t\t\t\tSale of products relates to the sale of smaller less \u00a0
\n\t\t\t\t\tcustomized cable projects, standardized cables \u00a0
\n\t\t\t\t\tand equipment. Small cable projects with little or no \u00a0
\n\t\t\t\t\tcustomization usually have a short lead time of less \u00a0
\n\t\t\t\t\tthan one year. Each delivered product is considered \u00a0
\n\t\t\t\t\tone performance obligation. Most of the products are \u00a0
\n\t\t\t\t\tsold at a fixed price and revenue is usually recognized \u00a0
\n\t\t\t\t\tat the point in time when the control of the products \u00a0
\n\t\t\t\t\ttransfers to the customers, usually upon delivery. \u00a0
\n\t\t\t\t\tFor standardized products, NKT Group is usually en- \u00a0
\n\t\t\t\t\ttitled to payment upon delivery, and payment terms \u00a0
\n\t\t\t\t\tvary by market but are usually short. \u00a0
Service contracts \u00a0
\n\t\t\t\t\tService contracts comprise various service elements \u00a0
\n\t\t\t\t\tto support power cable efficiency and prevent or \u00a0
\n\t\t\t\t\tmitigate power cable failures and can include up to \u00a0
\n\t\t\t\t\t365/24 hours support. Service delivered according \u00a0
\n\t\t\t\t\tto the contracts is considered as one performance \u00a0
\n\t\t\t\t\tobligation delivered over time. Revenue is accordingly \u00a0
\n\t\t\t\t\trecognized over the life of the contract. NKT Group is \u00a0
\n\t\t\t\t\teither entitled to payment once the service has been \u00a0
\n\t\t\t\t\tprovided or on a periodic basis. \u00a0
\n\t\t\t\t\tSpare parts and other repair work contracts are \u00a0
\n\t\t\t\t\tdetermined as one performance obligation. The \u00a0
\n\t\t\t\t\ttransaction price is usually variable, depending on \u00a0
\n\t\t\t\t\tthe produced output, and revenue is recognized \u00a0
\n\t\t\t\t\tover time, using the cost-to-cost method. In case \u00a0
\n\t\t\t\t\tof significant uncertainties related to measuring the \u00a0
\n\t\t\t\t\trevenue reliably, revenue is recognized according to \u00a0
\n\t\t\t\t\tpayments. NKT Group is entitled to payment once \u00a0
\n\t\t\t\t\tthe work or spare parts are delivered. \u00a0
Providing new highly customized spare cables is de- \u00a0
\n\t\t\t\t\tfined as one performance obligation. The transaction \u00a0
\n\t\t\t\t\tprice is usually fixed and revenue is typically recog- \u00a0
\n\t\t\t\t\tnized over time using the percentage of completion \u00a0
\n\t\t\t\t\t(PoC) cost-to-cost method. \u00a0
\n\t\t\t\t\tThe payment pattern for spare cables is similar to \u00a0
\n\t\t\t\t\tthe pattern for cable projects described above and \u00a0
\n\t\t\t\t\tNKT Group will usually obtain payment guarantees \u00a0
\n\t\t\t\t\tto minimize the risk during the execution of the cable \u00a0
\n\t\t\t\t\tproject. \u00a0
",
"dimensions": {
"concept": "ifrs-full:DisclosureOfEntitysReportableSegmentsExplanatory",
"language": "en",
"entity": "scheme:529900197LKWCEQ0NL18",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"fact2251": {
"value": "Accounting policy \u00a0
\n\t\t\t\t\tSegment information \u00a0
\n\t\t\t\t\tThe segment information is based on internal management reporting and \u00a0
\n\t\t\t\t\tis presented in accordance with the Group\u2019s accounting policies. \u00a0
\n\t\t\t\t\tSegment income and expenses and segment working capital comprise \u00a0
\n\t\t\t\t\tthose items that are directly attributable to the individual segment and \u00a0
\n\t\t\t\t\tthose items that can be reliably allocated to it. Other items are shown as \u00a0
\n\t\t\t\t\tnon-allocated. \u00a0
\n\t\t\t\t\tThe reportable segments are generally referred to as business lines. The \u00a0
\n\t\t\t\t\tbusiness lines consist of Solutions, Applications and Service & Accesso- \u00a0
\n\t\t\t\t\tries. For further details please refer to the Business review section of each \u00a0
\n\t\t\t\t\tbusiness line. The Board of Directors assesses the operating results of \u00a0
\n\t\t\t\t\tthe business lines separately to enable decisions concerning allocation of \u00a0
\n\t\t\t\t\tresources and measurement of performance. \u00a0
\n\t\t\t\t\tRevenue from Goods and Service are recognized at a point in time and \u00a0
\n\t\t\t\t\trevenue from construction contracts are recognized over time. \u00a0
\n\t\t\t\t\tInter-segment transactions are performed on market terms. \u00a0
\n\t\t\t\t\tNo single customer accounts for more than 10% of the revenue. \u00a0
\n\t\t\t\t\tThe geographical disclosure of revenue is based on the country of delivery. \u00a0
Other operating income comprises items of a secondary nature rela- \u00a0
\n\t\t\t\t\ttive to the operations of the Group, including grant schemes, reimburse- \u00a0
\n\t\t\t\t\tments and gains on sale of non-current assets, etc. \u00a0
Change in inventories of finished goods and work in progress \u00a0
\n\t\t\t\t\tcomprises changes in these items which correspond to staff costs and \u00a0
\n\t\t\t\t\tother costs charged to the income statement during the year and which \u00a0
\n\t\t\t\t\trelate directly or indirectly to the cost of the items stated in the balance \u00a0
\n\t\t\t\t\tsheet. \u00a0
Work performed by the Group and capitalized comprises income \u00a0
\n\t\t\t\t\twhich corresponds to staff costs and other costs charged to the income \u00a0
\n\t\t\t\t\tstatement during the year and which relate directly or indirectly to the \u00a0
\n\t\t\t\t\tcapitalized cost of non-current assets of own manufacture. \u00a0
Raw materials, consumables and goods for resale \u00a0
\n\t\t\t\t\tCosts of raw materials, consumables and goods for resale refer to \u00a0
\n\t\t\t\t\tpurchases and changes during the year in inventory levels, including \u00a0
\n\t\t\t\t\tshrinkage, waste production and any write-downs for obsolescence. \u00a0
Other costs comprise external costs relating to production, sale and \u00a0
\n\t\t\t\t\tadministration, as well as losses on disposal of tangible and intangible \u00a0
\n\t\t\t\t\tassets. Write-downs of receivables from sales are also included. \u00a0
Accounting policy \u00a0
\n\t\t\t\t\tRevenue \u00a0
\n\t\t\t\t\tRevenue from construction contracts with customers \u00a0
\n\t\t\t\t\twith a high degree of individual customization and no \u00a0
\n\t\t\t\t\talternative use, are recognized as revenue over time, \u00a0
\n\t\t\t\t\tprovided that NKT Group has secured an enforceable \u00a0
\n\t\t\t\t\tright to payment for work performed at any time. \u00a0
\n\t\t\t\t\tThe revenue therefore corresponds to the sales price \u00a0
\n\t\t\t\t\tof work performed during the year (the percent- \u00a0
\n\t\t\t\t\tage-of-completion method). See note 4.4 for further \u00a0
\n\t\t\t\t\tinformation concerning construction contracts. \u00a0
\n\t\t\t\t\tRevenue from sale of goods for resale and finished \u00a0
\n\t\t\t\t\tgoods is recognized in the income statement when \u00a0
\n\t\t\t\t\tcontrol of the goods has transferred to the buyer, \u00a0
\n\t\t\t\t\tnormally at delivery, and it is virtually certain that the \u00a0
\n\t\t\t\t\tincome will be received. \u00a0
\n\t\t\t\t\tRevenue from services that include service packages \u00a0
\n\t\t\t\t\tand extended warranties relating to products and \u00a0
\n\t\t\t\t\tcontracts is recognized concurrently with the supply \u00a0
\n\t\t\t\t\tof those services. \u00a0
\n\t\t\t\t\tRevenue is measured at the fair value of the expected \u00a0
\n\t\t\t\t\tconsideration excluding VAT and taxes charged on \u00a0
\n\t\t\t\t\tbehalf of third parties. In determining the transaction \u00a0
\n\t\t\t\t\tprice, revenue is reduced by probable penalties and \u00a0
\n\t\t\t\t\tother claims and discounts that are payments to the \u00a0
\n\t\t\t\t\tcustomers. The transaction price is further adjusted \u00a0
\n\t\t\t\t\tfor any variable elements of the transaction price. The \u00a0
\n\t\t\t\t\tvariable amount is estimated at contract inception \u00a0
\n\t\t\t\t\tand revisited throughout the contract period. Variable \u00a0
\n\t\t\t\t\tincome is recognized as revenue when it is highly \u00a0
\n\t\t\t\t\tprobable that a reversal will not occur. \u00a0
",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForSegmentReportingExplanatory",
"language": "en",
"entity": "scheme:529900197LKWCEQ0NL18",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"fact2258": {
"value": "Change in inventories of finished goods and work in progress \u00a0
\n\t\t\t\t\tcomprises changes in these items which correspond to staff costs and \u00a0
\n\t\t\t\t\tother costs charged to the income statement during the year and which \u00a0
\n\t\t\t\t\trelate directly or indirectly to the cost of the items stated in the balance \u00a0
\n\t\t\t\t\tsheet. \u00a0
Accounting policy \u00a0
\n\t\t\t\t\tInventories are measured at cost in accordance with \u00a0
\n\t\t\t\t\tthe FIFO method or at a weighted average. If the net \u00a0
\n\t\t\t\t\trealizable value is lower than cost, inventories are \u00a0
\n\t\t\t\t\twritten down to this lower value. \u00a0
\n\t\t\t\t\tRaw materials, consumables and goods for resale \u00a0
\n\t\t\t\t\tare measured at cost, comprising purchase price \u00a0
\n\t\t\t\t\tplus delivery costs. \u00a0
\n\t\t\t\t\tFinished goods and work in progress are measured \u00a0
\n\t\t\t\t\tat cost, comprising direct costs and production \u00a0
\n\t\t\t\t\toverheads. \u00a0
",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForMeasuringInventories",
"language": "en",
"entity": "scheme:529900197LKWCEQ0NL18",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"fact2260": {
"value": "Raw materials, consumables and goods for resale \u00a0
\n\t\t\t\t\tCosts of raw materials, consumables and goods for resale refer to \u00a0
\n\t\t\t\t\tpurchases and changes during the year in inventory levels, including \u00a0
\n\t\t\t\t\tshrinkage, waste production and any write-downs for obsolescence. \u00a0
Other costs comprise external costs relating to production, sale and \u00a0
\n\t\t\t\t\tadministration, as well as losses on disposal of tangible and intangible \u00a0
\n\t\t\t\t\tassets. Write-downs of receivables from sales are also included. \u00a0
",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForEnvironmentRelatedExpenseExplanatory",
"language": "en",
"entity": "scheme:529900197LKWCEQ0NL18",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"fact2242": {
"value": "Geographical information \u00a0
\n\t\t\t\t\tProperty, plant \u00a0
\n\t\t\t\t\tand equitment and \u00a0
\n\t\t\t\t\tRevenue \u00a0
\n\t\t\t\t\tintangible assets \u00a0
\n\t\t\t\t\tAmounts in EURm \u00a0
\n\t\t\t\t\t2022 \u00a0
\n\t\t\t\t\t2021 \u00a0
\n\t\t\t\t\t2022 \u00a0
\n\t\t\t\t\t2021 \u00a0
\n\t\t\t\t\tDenmark \u00a0
\n\t\t\t\t\t120.5 \u00a0
\n\t\t\t\t\t126.1 \u00a0
\n\t\t\t\t\t11.5 \u00a0
\n\t\t\t\t\t46.3 \u00a0
\n\t\t\t\t\tGermany \u00a0
\n\t\t\t\t\t679.1 \u00a0
\n\t\t\t\t\t614.1 \u00a0
\n\t\t\t\t\t324.5 \u00a0
\n\t\t\t\t\t309.9 \u00a0
\n\t\t\t\t\tSweden \u00a0
\n\t\t\t\t\t154.8 \u00a0
\n\t\t\t\t\t150.4 \u00a0
\n\t\t\t\t\t837.3 \u00a0
\n\t\t\t\t\t833.8 \u00a0
\n\t\t\t\t\tUK \u00a0
\n\t\t\t\t\t359.1 \u00a0
\n\t\t\t\t\t306.9 \u00a0
\n\t\t\t\t\t18.8 \u00a0
\n\t\t\t\t\t21.7 \u00a0
\n\t\t\t\t\tPoland \u00a0
\n\t\t\t\t\t213.5 \u00a0
\n\t\t\t\t\t213.9 \u00a0
\n\t\t\t\t\t17.2 \u00a0
\n\t\t\t\t\t16.3 \u00a0
\n\t\t\t\t\tUSA \u00a0
\n\t\t\t\t\t99.6 \u00a0
\n\t\t\t\t\t4.4 \u00a0
\n\t\t\t\t\t0.1 \u00a0
\n\t\t\t\t\t6.9 \u00a0
\n\t\t\t\t\tNorway \u00a0
\n\t\t\t\t\t90.4 \u00a0
\n\t\t\t\t\t108.4 \u00a0
\n\t\t\t\t\t87.9 \u00a0
\n\t\t\t\t\t90.5 \u00a0
\n\t\t\t\t\tCzech Republic \u00a0
\n\t\t\t\t\t62.0 \u00a0
\n\t\t\t\t\t69.5 \u00a0
\n\t\t\t\t\t63.7 \u00a0
\n\t\t\t\t\t45.1 \u00a0
\n\t\t\t\t\tOther \u00a0
\n\t\t\t\t\t300.0 \u00a0
\n\t\t\t\t\t234.2 \u00a0
\n\t\t\t\t\t12.2 \u00a0
\n\t\t\t\t\t34.1 \u00a0
\n\t\t\t\t\tTotal \u00a0
\n\t\t\t\t\t2,079.0 \u00a0
\n\t\t\t\t\t1,827.9 \u00a0
\n\t\t\t\t\t1,373.2 \u00a0
\n\t\t\t\t\t1,404.6 \u00a0
Section 3 \u2013 Non-current assets and liabilities \u00a0
NKT Group\u2019s investments in non- \u00a0
\n\t\t\t\t\tcurrent assets form a basis for the \u00a0
\n\t\t\t\t\tGroup\u2019s operation and non-current \u00a0
\n\t\t\t\t\tliabilities arising as a result thereof. \u00a0
\n\t\t\t\t\tThe non-current liabilities in this \u00a0
\n\t\t\t\t\tsection are regarded as non interest- \u00a0
\n\t\t\t\t\tbearing. \u00a0
3.2 Property, plant and equipment \u00a0
\n\t\t\t\t\tRight-of-use assets are recognized as follows: \u00a0
\n\t\t\t\t\tManu- \u00a0
\n\t\t\t\t\tFixtures, \u00a0
\n\t\t\t\t\tfacturing \u00a0
\n\t\t\t\t\tfittings, \u00a0
\n\t\t\t\t\tLand and \u00a0
\n\t\t\t\t\tplant and \u00a0
\n\t\t\t\t\ttools and \u00a0
\n\t\t\t\t\tAmounts in EURm \u00a0
\n\t\t\t\t\tbuildings \u00a0
\n\t\t\t\t\tmachinery \u00a0
\n\t\t\t\t\tequipment \u00a0
\n\t\t\t\t\tTotal \u00a0
\n\t\t\t\t\tCarrying amount, 1 January 2021 \u00a0
\n\t\t\t\t\t36.4 \u00a0
\n\t\t\t\t\t8.2 \u00a0
\n\t\t\t\t\t0.7 \u00a0
\n\t\t\t\t\t45.3 \u00a0
\n\t\t\t\t\tAddition for the year \u00a0
\n\t\t\t\t\t11.0 \u00a0
\n\t\t\t\t\t0.0 \u00a0
\n\t\t\t\t\t0.7 \u00a0
\n\t\t\t\t\t11.7 \u00a0
\n\t\t\t\t\tDepreciation of right-of-use assets \u00a0
\n\t\t\t\t\t-6.6 \u00a0
\n\t\t\t\t\t-1.0 \u00a0
\n\t\t\t\t\t-0.4 \u00a0
\n\t\t\t\t\t-8.0 \u00a0
\n\t\t\t\t\tExchange rate adjustments \u00a0
\n\t\t\t\t\t-0.2 \u00a0
\n\t\t\t\t\t-0.1 \u00a0
\n\t\t\t\t\t-0.1 \u00a0
\n\t\t\t\t\t-0.4 \u00a0
\n\t\t\t\t\tThe carrying amount of right-of-use assets, \u00a0
\n\t\t\t\t\t31 December 2021 \u00a0
\n\t\t\t\t\t40.6 \u00a0
\n\t\t\t\t\t7.1 \u00a0
\n\t\t\t\t\t0.9 \u00a0
\n\t\t\t\t\t48.6 \u00a0
\n\t\t\t\t\tCarrying amount, 1 January 2022 \u00a0
\n\t\t\t\t\t40.6 \u00a0
\n\t\t\t\t\t7.1 \u00a0
\n\t\t\t\t\t0.9 \u00a0
\n\t\t\t\t\t48.6 \u00a0
\n\t\t\t\t\tAddition for the year \u00a0
\n\t\t\t\t\t1.8 \u00a0
\n\t\t\t\t\t0.0 \u00a0
\n\t\t\t\t\t0.0 \u00a0
\n\t\t\t\t\t1.8 \u00a0
\n\t\t\t\t\tDisposals for the year \u00a0
\n\t\t\t\t\t0.5 \u00a0
\n\t\t\t\t\t0.0 \u00a0
\n\t\t\t\t\t0.0 \u00a0
\n\t\t\t\t\t0.5 \u00a0
\n\t\t\t\t\tDisposal of subsidiaries \u00a0
\n\t\t\t\t\t-0.5 \u00a0
\n\t\t\t\t\t0.0 \u00a0
\n\t\t\t\t\t0.0 \u00a0
\n\t\t\t\t\t-0.5 \u00a0
\n\t\t\t\t\tDepreciation of right-of-use assets \u00a0
\n\t\t\t\t\t-5.4 \u00a0
\n\t\t\t\t\t-1.0 \u00a0
\n\t\t\t\t\t-0.4 \u00a0
\n\t\t\t\t\t-6.8 \u00a0
\n\t\t\t\t\tTransferred to assets held for sale \u00a0
\n\t\t\t\t\t-6.5 \u00a0
\n\t\t\t\t\t0.0 \u00a0
\n\t\t\t\t\t0.0 \u00a0
\n\t\t\t\t\t-6.5 \u00a0
\n\t\t\t\t\tExchange rate adjustments \u00a0
\n\t\t\t\t\t-1.0 \u00a0
\n\t\t\t\t\t0.0 \u00a0
\n\t\t\t\t\t0.0 \u00a0
\n\t\t\t\t\t-1.0 \u00a0
\n\t\t\t\t\tThe carrying amount of right-of-use assets, \u00a0
\n\t\t\t\t\t31 December 2022 \u00a0
\n\t\t\t\t\t29.5 \u00a0
\n\t\t\t\t\t6.1 \u00a0
\n\t\t\t\t\t0.5 \u00a0
\n\t\t\t\t\t36.1 \u00a0
\n\t\t\t\t\tAmounts recognized in the income statement: \u00a0
\n\t\t\t\t\tAmounts in EURm \u00a0
\n\t\t\t\t\t2022 \u00a0
\n\t\t\t\t\t2021 \u00a0
\n\t\t\t\t\tCosts relating to other immaterial leases including short term \u00a0
\n\t\t\t\t\tand low value leases, recognized in the income statement \u00a0
\n\t\t\t\t\t7.8 \u00a0
\n\t\t\t\t\t7.1 \u00a0
\n\t\t\t\t\tLease liabilities and interests relating to recognized lease contracts are included in Section 5.4 and 5.5 respec- \u00a0
\n\t\t\t\t\ttively. Future minimum lease payments relating to leases not recognized in the balance sheet amount to EUR \u00a0
\n\t\t\t\t\t11.6m (EUR 13.4m in 2021). \u00a0
NKT Group has no leases where the rent is variable \u00a0
\n\t\t\t\t\tdepending on revenue, etc. Some contracts are ex- \u00a0
\n\t\t\t\t\tposed to future increases in variable lease payments \u00a0
\n\t\t\t\t\tbased on an index or rate, which are included in the \u00a0
\n\t\t\t\t\tlease liability when they take effect. \u00a0
Payments related to short-term leases and leases \u00a0
\n\t\t\t\t\tof low-value assets continue to be recognized on \u00a0
\n\t\t\t\t\ta straight-line basis as an expense in the income \u00a0
\n\t\t\t\t\tstatement. Low-value assets mainly comprise minor \u00a0
\n\t\t\t\t\tbuildings, cars, forklifts, IT-equipment and other office \u00a0
\n\t\t\t\t\tequipment. \u00a0
Accounting policy \u00a0
\n\t\t\t\t\tContracts relating to leased equipment are usually \u00a0
\n\t\t\t\t\tmade for a fixed period, whereas lease contracts \u00a0
\n\t\t\t\t\tfor buildings and land in some instances include an \u00a0
\n\t\t\t\t\toption to extend the lease. When assessing the life of \u00a0
\n\t\t\t\t\tthe leases, NKT considers the non-cancellable lease \u00a0
\n\t\t\t\t\tterm and options to extend the lease where it is rea- \u00a0
\n\t\t\t\t\tsonably certain to extend. The lease period of offices \u00a0
\n\t\t\t\t\tand sales buildings are assessed to be approximately \u00a0
\n\t\t\t\t\t3-10 years, for production facilities 5-10 years and \u00a0
\n\t\t\t\t\tfor land up to 20 years. For other assets the lease \u00a0
\n\t\t\t\t\tterm is equal to the non-cancelable lease period and \u00a0
\n\t\t\t\t\textensions are not considered. The right-of-use asset \u00a0
\n\t\t\t\t\tis depreciated over the shorter of the asset\u2019s useful \u00a0
\n\t\t\t\t\tlife and the lease term on a straight-line basis. \u00a0
Property, \u00a0
\n\t\t\t\t\tManu- \u00a0
\n\t\t\t\t\tFixtures, \u00a0
\n\t\t\t\t\tplant and \u00a0
\n\t\t\t\t\tTotal \u00a0
\n\t\t\t\t\tfacturing \u00a0
\n\t\t\t\t\tfittings, \u00a0
\n\t\t\t\t\tequipment \u00a0
\n\t\t\t\t\tproperty, \u00a0
\n\t\t\t\t\tLand and \u00a0
\n\t\t\t\t\tplant and \u00a0
\n\t\t\t\t\ttools and
under con- \u00a0
\n\t\t\t\t\tplant and \u00a0
\n\t\t\t\t\tAmounts in EURm \u00a0
\n\t\t\t\t\tbuildings \u00a0
\n\t\t\t\t\tmachinery \u00a0
\n\t\t\t\t\tequipment \u00a0
\n\t\t\t\t\tstruction \u00a0
\n\t\t\t\t\tequipment \u00a0
\n\t\t\t\t\tCost, 1 January 2021 \u00a0
\n\t\t\t\t\t396.5 \u00a0
\n\t\t\t\t\t636.2 \u00a0
\n\t\t\t\t\t120.9 \u00a0
\n\t\t\t\t\t56.4 \u00a0
\n\t\t\t\t\t1,210.0 \u00a0
\n\t\t\t\t\tAdditions \u00a0
\n\t\t\t\t\t13.4 \u00a0
\n\t\t\t\t\t5.4 \u00a0
\n\t\t\t\t\t10.4 \u00a0
\n\t\t\t\t\t173.8 \u00a0
\n\t\t\t\t\t203.0 \u00a0
\n\t\t\t\t\tDisposals \u00a0
\n\t\t\t\t\t-2.0 \u00a0
\n\t\t\t\t\t-2.3 \u00a0
\n\t\t\t\t\t-1.8 \u00a0
\n\t\t\t\t\t0.0 \u00a0
\n\t\t\t\t\t-6.1 \u00a0
\n\t\t\t\t\tTransferred between classes of assets \u00a0
\n\t\t\t\t\t0.2 \u00a0
\n\t\t\t\t\t34.2 \u00a0
\n\t\t\t\t\t2.8 \u00a0
\n\t\t\t\t\t-37.2 \u00a0
\n\t\t\t\t\t0.0 \u00a0
\n\t\t\t\t\tExchange rate adjustments \u00a0
\n\t\t\t\t\t2.5 \u00a0
\n\t\t\t\t\t1.5 \u00a0
\n\t\t\t\t\t-0.8 \u00a0
\n\t\t\t\t\t-0.8 \u00a0
\n\t\t\t\t\t2.4 \u00a0
\n\t\t\t\t\tCost, 31 December 2021 \u00a0
\n\t\t\t\t\t410.6 \u00a0
\n\t\t\t\t\t675.0 \u00a0
\n\t\t\t\t\t131.5 \u00a0
\n\t\t\t\t\t192.2 \u00a0
\n\t\t\t\t\t1,409.3 \u00a0
\n\t\t\t\t\tDepreciation and impairment, 1 January 2021 \u00a0
\n\t\t\t\t\t-104.7 \u00a0
\n\t\t\t\t\t-374.3 \u00a0
\n\t\t\t\t\t-72.6 \u00a0
\n\t\t\t\t\t-0.8 \u00a0
\n\t\t\t\t\t-552.4 \u00a0
\n\t\t\t\t\tDepreciation for the year \u00a0
\n\t\t\t\t\t-16.7 \u00a0
\n\t\t\t\t\t-42.8 \u00a0
\n\t\t\t\t\t-15.4 \u00a0
\n\t\t\t\t\t0.0 \u00a0
\n\t\t\t\t\t-74.9 \u00a0
\n\t\t\t\t\tDisposals \u00a0
\n\t\t\t\t\t1.7 \u00a0
\n\t\t\t\t\t2.1 \u00a0
\n\t\t\t\t\t1.8 \u00a0
\n\t\t\t\t\t0.0 \u00a0
\n\t\t\t\t\t5.6 \u00a0
\n\t\t\t\t\tExchange rate adjustments \u00a0
\n\t\t\t\t\t-2.5 \u00a0
\n\t\t\t\t\t-2.5 \u00a0
\n\t\t\t\t\t0.3 \u00a0
\n\t\t\t\t\t0.0 \u00a0
\n\t\t\t\t\t-4.7 \u00a0
\n\t\t\t\t\tDepreciation and impairment, 31 December 2021 \u00a0
\n\t\t\t\t\t-122.2 \u00a0
\n\t\t\t\t\t-417.5 \u00a0
\n\t\t\t\t\t-85.9 \u00a0
\n\t\t\t\t\t-0.8 \u00a0
\n\t\t\t\t\t-626.4 \u00a0
\n\t\t\t\t\tCarrying amount, 31 December 2021 \u00a0
\n\t\t\t\t\t288.4 \u00a0
\n\t\t\t\t\t257.5 \u00a0
\n\t\t\t\t\t45.6 \u00a0
\n\t\t\t\t\t191.4 \u00a0
\n\t\t\t\t\t782.9 \u00a0
\n\t\t\t\t\tCost, 1 January 2022 \u00a0
\n\t\t\t\t\t410.6 \u00a0
\n\t\t\t\t\t675.0 \u00a0
\n\t\t\t\t\t131.5 \u00a0
\n\t\t\t\t\t192.2 \u00a0
\n\t\t\t\t\t1,409.3 \u00a0
\n\t\t\t\t\tAdditions \u00a0
\n\t\t\t\t\t4.2 \u00a0
\n\t\t\t\t\t20.6 \u00a0
\n\t\t\t\t\t2.6 \u00a0
\n\t\t\t\t\t134.5 \u00a0
\n\t\t\t\t\t161.9 \u00a0
\n\t\t\t\t\tAdditions from business combinations \u00a0
\n\t\t\t\t\t6.4 \u00a0
\n\t\t\t\t\t12.7 \u00a0
\n\t\t\t\t\t0.2 \u00a0
\n\t\t\t\t\t1.6 \u00a0
\n\t\t\t\t\t20.9 \u00a0
\n\t\t\t\t\tDisposals \u00a0
\n\t\t\t\t\t-0.4 \u00a0
\n\t\t\t\t\t-7.3 \u00a0
\n\t\t\t\t\t-2.2 \u00a0
\n\t\t\t\t\t-1.3 \u00a0
\n\t\t\t\t\t-11.2 \u00a0
\n\t\t\t\t\tDisposal of subsidiaries \u00a0
\n\t\t\t\t\t-1.6 \u00a0
\n\t\t\t\t\t-0.3 \u00a0
\n\t\t\t\t\t-3.9 \u00a0
\n\t\t\t\t\t0.0 \u00a0
\n\t\t\t\t\t-5.8 \u00a0
\n\t\t\t\t\tTransferred between classes of assets \u00a0
\n\t\t\t\t\t33.4 \u00a0
\n\t\t\t\t\t53.2 \u00a0
\n\t\t\t\t\t16.2 \u00a0
\n\t\t\t\t\t-102.8 \u00a0
\n\t\t\t\t\t0.0 \u00a0
\n\t\t\t\t\tTransferred to assets held for sale \u00a0
\n\t\t\t\t\t-20.9 \u00a0
\n\t\t\t\t\t-16.5 \u00a0
\n\t\t\t\t\t-9.5 \u00a0
\n\t\t\t\t\t-3.4 \u00a0
\n\t\t\t\t\t-50.3 \u00a0
\n\t\t\t\t\tExchange rate adjustments \u00a0
\n\t\t\t\t\t-13.9 \u00a0
\n\t\t\t\t\t-10.2 \u00a0
\n\t\t\t\t\t-5.8 \u00a0
\n\t\t\t\t\t-11.3 \u00a0
\n\t\t\t\t\t-41.2 \u00a0
\n\t\t\t\t\tCost, 31 December 2022 \u00a0
\n\t\t\t\t\t417.8 \u00a0
\n\t\t\t\t\t727.2 \u00a0
\n\t\t\t\t\t129.1 \u00a0
\n\t\t\t\t\t209.5 \u00a0
\n\t\t\t\t\t1,483.6 \u00a0
\n\t\t\t\t\tDepreciation and impairment, 1 January 2022 \u00a0
\n\t\t\t\t\t-122.2 \u00a0
\n\t\t\t\t\t-417.5 \u00a0
\n\t\t\t\t\t-85.9 \u00a0
\n\t\t\t\t\t-0.8 \u00a0
\n\t\t\t\t\t-626.4 \u00a0
\n\t\t\t\t\tDepreciation for the year \u00a0
\n\t\t\t\t\t-15.5 \u00a0
\n\t\t\t\t\t-37.7 \u00a0
\n\t\t\t\t\t-12.4 \u00a0
\n\t\t\t\t\t0.0 \u00a0
\n\t\t\t\t\t-65.6 \u00a0
\n\t\t\t\t\tDisposals \u00a0
\n\t\t\t\t\t0.2 \u00a0
\n\t\t\t\t\t7.1 \u00a0
\n\t\t\t\t\t2.4 \u00a0
\n\t\t\t\t\t0.8 \u00a0
\n\t\t\t\t\t10.5 \u00a0
\n\t\t\t\t\tDisposal of subsidiaries \u00a0
\n\t\t\t\t\t1.1 \u00a0
\n\t\t\t\t\t0.0 \u00a0
\n\t\t\t\t\t3.4 \u00a0
\n\t\t\t\t\t0.0 \u00a0
\n\t\t\t\t\t4.5 \u00a0
\n\t\t\t\t\tTransferred to assets held for sale \u00a0
\n\t\t\t\t\t8.7 \u00a0
\n\t\t\t\t\t13.7 \u00a0
\n\t\t\t\t\t5.8 \u00a0
\n\t\t\t\t\t0.0 \u00a0
\n\t\t\t\t\t28.2 \u00a0
\n\t\t\t\t\tExchange rate adjustments \u00a0
\n\t\t\t\t\t2.3 \u00a0
\n\t\t\t\t\t5.1 \u00a0
\n\t\t\t\t\t2.6 \u00a0
\n\t\t\t\t\t0.0 \u00a0
\n\t\t\t\t\t10.1 \u00a0
\n\t\t\t\t\tDepreciation and impairment, 31 December 2022 \u00a0
\n\t\t\t\t\t-125.4 \u00a0
\n\t\t\t\t\t-429.3 \u00a0
\n\t\t\t\t\t-84.1 \u00a0
\n\t\t\t\t\t0.0 \u00a0
\n\t\t\t\t\t-638.8 \u00a0
\n\t\t\t\t\tCarrying amount, 31 December 2022 \u00a0
\n\t\t\t\t\t292.4 \u00a0
\n\t\t\t\t\t297.9 \u00a0
\n\t\t\t\t\t45.0 \u00a0
\n\t\t\t\t\t209.5 \u00a0
\n\t\t\t\t\t844.8 \u00a0
Accounting policy \u00a0
\n\t\t\t\t\tProperty, plant and equipment are measured at cost less accumulated depreciation and \u00a0
\n\t\t\t\t\timpairment losses. \u00a0
\n\t\t\t\t\tThe cost comprises the purchase price and any costs directly attributable to the acquisition. \u00a0
\n\t\t\t\t\tThe cost of self-constructed assets comprises costs of materials, components, subcon- \u00a0
\n\t\t\t\t\ttractors and wages. The cost is supplemented by the present value of estimated liabilities \u00a0
\n\t\t\t\t\trelated to dismantling and removing the asset and restoring the site on which the asset was \u00a0
\n\t\t\t\t\tutilized. \u00a0
\n\t\t\t\t\tSubsequent costs, e.g. relating to replacement of parts of an item of property, plant and \u00a0
\n\t\t\t\t\tequipment, are recognized in the carrying amount of the asset if it is likely that the costs will \u00a0
\n\t\t\t\t\tresult in future economic benefits for the Group. All other costs relating to ordinary repair and \u00a0
\n\t\t\t\t\tmaintenance are recognized in the income statement as incurred. \u00a0
\n\t\t\t\t\tDepreciation is done on a straight-line basis over the expected useful life of the assets, as \u00a0
\n\t\t\t\t\tfollows: \u00a0
\n\t\t\t\t\tBuildings \u00a0
\n\t\t\t\t\t10 \u2013 50 years \u00a0
\n\t\t\t\t\tManufacturing plant and machinery \u00a0
\n\t\t\t\t\t4 \u2013 20 years \u00a0
\n\t\t\t\t\tFixtures, fittings, tools and equipment \u00a0
\n\t\t\t\t\t3 \u2013 15 years \u00a0
\n\t\t\t\t\tVessel \u00a0
\n\t\t\t\t\t20 years \u00a0
\n\t\t\t\t\tLand is not depreciated \u00a0
\n\t\t\t\t\tIf individual parts of an item of property, plant and equipment have different useful lives, they \u00a0
\n\t\t\t\t\tare depreciated separately. \u00a0
\n\t\t\t\t\tThe basis of depreciation is calculated according to the residual value less impairment \u00a0
\n\t\t\t\t\tlosses. The residual value is determined at the acquisition date and reviewed annually. If the \u00a0
\n\t\t\t\t\tresidual value exceeds the carrying amount, depreciation is discontinued. \u00a0
",
"dimensions": {
"concept": "ifrs-full:DisclosureOfPropertyPlantAndEquipmentExplanatory",
"language": "en",
"entity": "scheme:529900197LKWCEQ0NL18",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"fact2262": {
"value": "Service contracts \u00a0
\n\t\t\t\t\tService contracts comprise various service elements \u00a0
\n\t\t\t\t\tto support power cable efficiency and prevent or \u00a0
\n\t\t\t\t\tmitigate power cable failures and can include up to \u00a0
\n\t\t\t\t\t365/24 hours support. Service delivered according \u00a0
\n\t\t\t\t\tto the contracts is considered as one performance \u00a0
\n\t\t\t\t\tobligation delivered over time. Revenue is accordingly \u00a0
\n\t\t\t\t\trecognized over the life of the contract. NKT Group is \u00a0
\n\t\t\t\t\teither entitled to payment once the service has been \u00a0
\n\t\t\t\t\tprovided or on a periodic basis. \u00a0
\n\t\t\t\t\tSpare parts and other repair work contracts are \u00a0
\n\t\t\t\t\tdetermined as one performance obligation. The \u00a0
\n\t\t\t\t\ttransaction price is usually variable, depending on \u00a0
\n\t\t\t\t\tthe produced output, and revenue is recognized \u00a0
\n\t\t\t\t\tover time, using the cost-to-cost method. In case \u00a0
\n\t\t\t\t\tof significant uncertainties related to measuring the \u00a0
\n\t\t\t\t\trevenue reliably, revenue is recognized according to \u00a0
\n\t\t\t\t\tpayments. NKT Group is entitled to payment once \u00a0
\n\t\t\t\t\tthe work or spare parts are delivered. \u00a0
Providing new highly customized spare cables is de- \u00a0
\n\t\t\t\t\tfined as one performance obligation. The transaction \u00a0
\n\t\t\t\t\tprice is usually fixed and revenue is typically recog- \u00a0
\n\t\t\t\t\tnized over time using the percentage of completion \u00a0
\n\t\t\t\t\t(PoC) cost-to-cost method. \u00a0
\n\t\t\t\t\tThe payment pattern for spare cables is similar to \u00a0
\n\t\t\t\t\tthe pattern for cable projects described above and \u00a0
\n\t\t\t\t\tNKT Group will usually obtain payment guarantees \u00a0
\n\t\t\t\t\tto minimize the risk during the execution of the cable \u00a0
\n\t\t\t\t\tproject. \u00a0
Accounting policy \u00a0
\n\t\t\t\t\tRevenue \u00a0
\n\t\t\t\t\tRevenue from construction contracts with customers \u00a0
\n\t\t\t\t\twith a high degree of individual customization and no \u00a0
\n\t\t\t\t\talternative use, are recognized as revenue over time, \u00a0
\n\t\t\t\t\tprovided that NKT Group has secured an enforceable \u00a0
\n\t\t\t\t\tright to payment for work performed at any time. \u00a0
\n\t\t\t\t\tThe revenue therefore corresponds to the sales price \u00a0
\n\t\t\t\t\tof work performed during the year (the percent- \u00a0
\n\t\t\t\t\tage-of-completion method). See note 4.4 for further \u00a0
\n\t\t\t\t\tinformation concerning construction contracts. \u00a0
\n\t\t\t\t\tRevenue from sale of goods for resale and finished \u00a0
\n\t\t\t\t\tgoods is recognized in the income statement when \u00a0
\n\t\t\t\t\tcontrol of the goods has transferred to the buyer, \u00a0
\n\t\t\t\t\tnormally at delivery, and it is virtually certain that the \u00a0
\n\t\t\t\t\tincome will be received. \u00a0
\n\t\t\t\t\tRevenue from services that include service packages \u00a0
\n\t\t\t\t\tand extended warranties relating to products and \u00a0
\n\t\t\t\t\tcontracts is recognized concurrently with the supply \u00a0
\n\t\t\t\t\tof those services. \u00a0
\n\t\t\t\t\tRevenue is measured at the fair value of the expected \u00a0
\n\t\t\t\t\tconsideration excluding VAT and taxes charged on \u00a0
\n\t\t\t\t\tbehalf of third parties. In determining the transaction \u00a0
\n\t\t\t\t\tprice, revenue is reduced by probable penalties and \u00a0
\n\t\t\t\t\tother claims and discounts that are payments to the \u00a0
\n\t\t\t\t\tcustomers. The transaction price is further adjusted \u00a0
\n\t\t\t\t\tfor any variable elements of the transaction price. The \u00a0
\n\t\t\t\t\tvariable amount is estimated at contract inception \u00a0
\n\t\t\t\t\tand revisited throughout the contract period. Variable \u00a0
\n\t\t\t\t\tincome is recognized as revenue when it is highly \u00a0
\n\t\t\t\t\tprobable that a reversal will not occur. \u00a0
",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForRecognitionOfRevenue",
"language": "en",
"entity": "scheme:529900197LKWCEQ0NL18",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"fact2265": {
"value": "2.2 Staff cost \u00a0
\n\t\t\t\t\tAmounts in EURm \u00a0
\n\t\t\t\t\t2022 \u00a0
\n\t\t\t\t\t2021 \u00a0
\n\t\t\t\t\tWages and salaries \u00a0
\n\t\t\t\t\t237.0 \u00a0
\n\t\t\t\t\t247.6 \u00a0
\n\t\t\t\t\tSocial security costs \u00a0
\n\t\t\t\t\t50.9 \u00a0
\n\t\t\t\t\t48.7 \u00a0
\n\t\t\t\t\tDefined contribution plans \u00a0
\n\t\t\t\t\t14.6 \u00a0
\n\t\t\t\t\t15.2 \u00a0
\n\t\t\t\t\tTotal \u00a0
\n\t\t\t\t\t302.5 \u00a0
\n\t\t\t\t\t311.5 \u00a0
\n\t\t\t\t\tAverage number of full-time employees \u00a0
\n\t\t\t\t\t4,062 \u00a0
\n\t\t\t\t\t3,775 \u00a0
In 2022, staff costs in NKT Group decreased by 3%, and the average number of full-time \u00a0
\n\t\t\t\t\temployees increased by 8%. Staff costs was impacted by exchange rates and utilization of \u00a0
\n\t\t\t\t\tthe restructuring provision recognised in 2021 regarding German activities (recognised as a \u00a0
\n\t\t\t\t\tone-off item in 2021). \u00a0
In NKT Group, most employees are covered by pension schemes, primarily in the form of \u00a0
\n\t\t\t\t\tdefined contribution-based plans managed by independent pension funds. \u00a0
NKT Group\u2019s defined benefit plans, primarily relating to the activities in Germany, are \u00a0
\n\t\t\t\t\trecognized at the present value of the actuarially measured obligations. If a plan is not fully \u00a0
\n\t\t\t\t\tcovered by plan assets, a plan liability is recognized in the balance sheet. Expenses relating \u00a0
\n\t\t\t\t\tto pension benefits are recognized as staff costs in the income statement. Actuarial gains or \u00a0
\n\t\t\t\t\tlosses are recognized in other comprehensive income, EUR 11.7m (EUR 2.3m in 2021), see \u00a0
\n\t\t\t\t\tnote 3.4 for more information. \u00a0
Amounts in EURk \u00a0
\n\t\t\t\t\t2022 \u00a0
\n\t\t\t\t\t2021 \u00a0
\n\t\t\t\t\tRemuneration to Executive Management \u00a0
\n\t\t\t\t\tSalary \u00a0
\n\t\t\t\t\t1,469 \u00a0
\n\t\t\t\t\t1,300 \u00a0
\n\t\t\t\t\tBonus \u00a0
\n\t\t\t\t\t1,153 \u00a0
\n\t\t\t\t\t1,199 \u00a0
\n\t\t\t\t\tPension \u00a0
\n\t\t\t\t\t75 \u00a0
\n\t\t\t\t\t61 \u00a0
\n\t\t\t\t\tLong-term incentive \u00a0
\n\t\t\t\t\t1,039 \u00a0
\n\t\t\t\t\t478 \u00a0
\n\t\t\t\t\tOther benefits \u00a0
\n\t\t\t\t\t114 \u00a0
\n\t\t\t\t\t114 \u00a0
\n\t\t\t\t\tTotal \u00a0
\n\t\t\t\t\t3,850 \u00a0
\n\t\t\t\t\t3,152 \u00a0
Remuneration of Executive Management comprise fixed salary, short- \u00a0
\n\t\t\t\t\tand long-term bonus programs and other customary benefits. Long \u00a0
\n\t\t\t\t\tterm bonus program consists of share-based payments programs. The \u00a0
\n\t\t\t\t\taccounting for share-based payments is presented in details in note 2.3. \u00a0
Remuneration to Executive Management increased in 2022 compared \u00a0
\n\t\t\t\t\tto 2021, mainly due to higher salaries as well as the long-term bonus \u00a0
\n\t\t\t\t\tprogram, as the internal targets were fully met for the 2020 program (see \u00a0
\n\t\t\t\t\tnote 2.3 Share-based payment). For more information on the develop- \u00a0
\n\t\t\t\t\tment, refer to the Remuneration Report available at the website. \u00a0
The Company has no related parties holding control. The Company\u2019s \u00a0
\n\t\t\t\t\trelated parties comprise the NKT Group Leadership Team and their close \u00a0
\n\t\t\t\t\tfamily members. Related parties also include businesses in which the \u00a0
\n\t\t\t\t\taforementioned have material interests. \u00a0
Amounts in EURk \u00a0
\n\t\t\t\t\t2022 \u00a0
\n\t\t\t\t\t2021 \u00a0
\n\t\t\t\t\tRemuneration to Board members \u00a0
\n\t\t\t\t\tBase remuneration \u00a0
\n\t\t\t\t\t576 \u00a0
\n\t\t\t\t\t480 \u00a0
\n\t\t\t\t\tAudit committee \u00a0
\n\t\t\t\t\t48 \u00a0
\n\t\t\t\t\t42 \u00a0
\n\t\t\t\t\tESG committee \u00a0
\n\t\t\t\t\t13 \u00a0
\n\t\t\t\t\t0
\n\t\t\t\t\tNomination committee \u00a0
\n\t\t\t\t\t24 \u00a0
\n\t\t\t\t\t20 \u00a0
\n\t\t\t\t\tRemuneration committee \u00a0
\n\t\t\t\t\t33 \u00a0
\n\t\t\t\t\t20 \u00a0
\n\t\t\t\t\tNKT Photonics working committee \u00a0
\n\t\t\t\t\t26 \u00a0
\n\t\t\t\t\t28 \u00a0
\n\t\t\t\t\tTotal \u00a0
\n\t\t\t\t\t720 \u00a0
\n\t\t\t\t\t590 \u00a0
Accounting policy \u00a0
\n\t\t\t\t\tStaff costs comprise wages and salaries, remuner- \u00a0
\n\t\t\t\t\tation, pensions, etc., and share-based payment for \u00a0
\n\t\t\t\t\tthe company\u2019s employees, including Group Man- \u00a0
\n\t\t\t\t\tagement. The Board of Directors does not receive \u00a0
\n\t\t\t\t\tshare-based payment. \u00a0
Wages and salaries, social security contributions, \u00a0
\n\t\t\t\t\tleave and sick leave, bonuses and non-monetary \u00a0
\n\t\t\t\t\tbenefits are recognized in the financial year in which \u00a0
\n\t\t\t\t\tservices are rendered by the employee. When NKT \u00a0
\n\t\t\t\t\tprovides long-term employee benefits, the costs are \u00a0
\n\t\t\t\t\taccrued to match the rendering of services. \u00a0
Termination benefits are recognized when an \u00a0
\n\t\t\t\t\tagreement has been reached between NKT and the \u00a0
\n\t\t\t\t\temployee and no future service is rendered by the \u00a0
\n\t\t\t\t\temployee in exchange for the benefits. \u00a0
3.4 Provisions and pension liabilities \u00a0
\n\t\t\t\t\tWarranty Restructuring \u00a0
\n\t\t\t\t\tOther \u00a0
\n\t\t\t\t\tPension \u00a0
\n\t\t\t\t\tAmounts in EURm \u00a0
\n\t\t\t\t\tprovision \u00a0
\n\t\t\t\t\tprovision \u00a0
\n\t\t\t\t\tprovisions \u00a0
\n\t\t\t\t\tliabilities, net \u00a0
\n\t\t\t\t\tTotal \u00a0
\n\t\t\t\t\tProvisions, 1 January 2022 \u00a0
\n\t\t\t\t\t6.9 \u00a0
\n\t\t\t\t\t14.7 \u00a0
\n\t\t\t\t\t50.4 \u00a0
\n\t\t\t\t\t53.8 \u00a0
\n\t\t\t\t\t125.8 \u00a0
\n\t\t\t\t\tAdditions in the year \u00a0
\n\t\t\t\t\t0.5 \u00a0
\n\t\t\t\t\t0.1 \u00a0
\n\t\t\t\t\t14.2 \u00a0
\n\t\t\t\t\t1.1 \u00a0
\n\t\t\t\t\t15.9 \u00a0
\n\t\t\t\t\tUsed during the year \u00a0
\n\t\t\t\t\t-0.1 \u00a0
\n\t\t\t\t\t-5.3 \u00a0
\n\t\t\t\t\t-11.2 \u00a0
\n\t\t\t\t\t-1.9 \u00a0
\n\t\t\t\t\t-18.5 \u00a0
\n\t\t\t\t\tReversed during the year \u00a0
\n\t\t\t\t\t-4.9 \u00a0
\n\t\t\t\t\t-0.3 \u00a0
\n\t\t\t\t\t-27.7 \u00a0
\n\t\t\t\t\t0.0 \u00a0
\n\t\t\t\t\t-32.9 \u00a0
\n\t\t\t\t\tTransfer to assets held for sale \u00a0
\n\t\t\t\t\t-1.1 \u00a0
\n\t\t\t\t\t0.0 \u00a0
\n\t\t\t\t\t0.0 \u00a0
\n\t\t\t\t\t0.0 \u00a0
\n\t\t\t\t\t-1.1 \u00a0
\n\t\t\t\t\tExchange rate adjustment \u00a0
\n\t\t\t\t\t-0.4 \u00a0
\n\t\t\t\t\t0.0 \u00a0
\n\t\t\t\t\t-1.7 \u00a0
\n\t\t\t\t\t0.0 \u00a0
\n\t\t\t\t\t-2.1 \u00a0
\n\t\t\t\t\tActuarial gains/losses on defined benefit pension plans \u00a0
\n\t\t\t\t\t0.0 \u00a0
\n\t\t\t\t\t0.0 \u00a0
\n\t\t\t\t\t0.0 \u00a0
\n\t\t\t\t\t-11.7 \u00a0
\n\t\t\t\t\t-11.7 \u00a0
\n\t\t\t\t\tProvisions, 31 December 2022 \u00a0
\n\t\t\t\t\t0.9 \u00a0
\n\t\t\t\t\t9.2 \u00a0
\n\t\t\t\t\t24.0 \u00a0
\n\t\t\t\t\t41.3 \u00a0
\n\t\t\t\t\t75.4 \u00a0
\n\t\t\t\t\tProvisions are recognized in the balance sheet as: \u00a0
\n\t\t\t\t\tNon-current liabilities \u00a0
\n\t\t\t\t\t0.0 \u00a0
\n\t\t\t\t\t4.4 \u00a0
\n\t\t\t\t\t7.0 \u00a0
\n\t\t\t\t\t41.3 \u00a0
\n\t\t\t\t\t52.7 \u00a0
\n\t\t\t\t\tCurrent liabilities \u00a0
\n\t\t\t\t\t0.9 \u00a0
\n\t\t\t\t\t4.8 \u00a0
\n\t\t\t\t\t17.0 \u00a0
\n\t\t\t\t\t0.0 \u00a0
\n\t\t\t\t\t22.7 \u00a0
\n\t\t\t\t\t0.9 \u00a0
\n\t\t\t\t\t9.2 \u00a0
\n\t\t\t\t\t24.0 \u00a0
\n\t\t\t\t\t41.3 \u00a0
\n\t\t\t\t\t75.4 \u00a0
Actuarial gains related to the pension liabilities are recognized in other \u00a0
\n\t\t\t\t\tcomprehensive income. The pension liability also include other long term \u00a0
\n\t\t\t\t\tbenefits relating to anniversary bonuses, etc., amounting to EUR 2.0m \u00a0
\n\t\t\t\t\t(EUR 1.9m in 2021). At the end of 2022, there were no plan assets to be \u00a0
\n\t\t\t\t\toffset in the present value of the liability. \u00a0
\n\t\t\t\t\tActuarial assumptions applied \u00a0
\n\t\t\t\t\t2022 \u00a0
\n\t\t\t\t\t2021 \u00a0
\n\t\t\t\t\tDiscount rate \u00a0
\n\t\t\t\t\t3.4% \u00a0
\n\t\t\t\t\t1.1% \u00a0
\n\t\t\t\t\tFuture salary increases \u00a0
\n\t\t\t\t\t3.0% \u00a0
\n\t\t\t\t\t3.0% \u00a0
\n\t\t\t\t\tFuture pension increases \u00a0
\n\t\t\t\t\t2.2% \u00a0
\n\t\t\t\t\t2.0% \u00a0
Sensitivity analysis \u00a0
\n\t\t\t\t\tThe table below shows the sensitivity of the liability to changes in key \u00a0
\n\t\t\t\t\tassumptions for the measurement of the pension liabilities, net. The anal- \u00a0
\n\t\t\t\t\tysis is based on the changes in the applied key assumptions considered \u00a0
\n\t\t\t\t\treasonably likely provided the other parameters in the calculation are \u00a0
\n\t\t\t\t\tunchanged. \u00a0
\n\t\t\t\t\tAmounts in EURm \u00a0
\n\t\t\t\t\t2022 \u00a0
\n\t\t\t\t\t2021 \u00a0
\n\t\t\t\t\t+0.5%-point in discount rate \u00a0
\n\t\t\t\t\t-2.2 \u00a0
\n\t\t\t\t\t-3.5 \u00a0
\n\t\t\t\t\t-0.5%-point in discount rate \u00a0
\n\t\t\t\t\t2.5 \u00a0
\n\t\t\t\t\t3.9 \u00a0
",
"dimensions": {
"concept": "ifrs-full:DisclosureOfEmployeeBenefitsExplanatory",
"language": "en",
"entity": "scheme:529900197LKWCEQ0NL18",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"fact2286": {
"value": "Amounts in EURk \u00a0
\n\t\t\t\t\t2022 \u00a0
\n\t\t\t\t\t2021 \u00a0
\n\t\t\t\t\tRemuneration to Executive Management \u00a0
\n\t\t\t\t\tSalary \u00a0
\n\t\t\t\t\t1,469 \u00a0
\n\t\t\t\t\t1,300 \u00a0
\n\t\t\t\t\tBonus \u00a0
\n\t\t\t\t\t1,153 \u00a0
\n\t\t\t\t\t1,199 \u00a0
\n\t\t\t\t\tPension \u00a0
\n\t\t\t\t\t75 \u00a0
\n\t\t\t\t\t61 \u00a0
\n\t\t\t\t\tLong-term incentive \u00a0
\n\t\t\t\t\t1,039 \u00a0
\n\t\t\t\t\t478 \u00a0
\n\t\t\t\t\tOther benefits \u00a0
\n\t\t\t\t\t114 \u00a0
\n\t\t\t\t\t114 \u00a0
\n\t\t\t\t\tTotal \u00a0
\n\t\t\t\t\t3,850 \u00a0
\n\t\t\t\t\t3,152 \u00a0
Remuneration of Executive Management comprise fixed salary, short- \u00a0
\n\t\t\t\t\tand long-term bonus programs and other customary benefits. Long \u00a0
\n\t\t\t\t\tterm bonus program consists of share-based payments programs. The \u00a0
\n\t\t\t\t\taccounting for share-based payments is presented in details in note 2.3. \u00a0
Remuneration to Executive Management increased in 2022 compared \u00a0
\n\t\t\t\t\tto 2021, mainly due to higher salaries as well as the long-term bonus \u00a0
\n\t\t\t\t\tprogram, as the internal targets were fully met for the 2020 program (see \u00a0
\n\t\t\t\t\tnote 2.3 Share-based payment). For more information on the develop- \u00a0
\n\t\t\t\t\tment, refer to the Remuneration Report available at the website. \u00a0
Amounts in EURk \u00a0
\n\t\t\t\t\t2022 \u00a0
\n\t\t\t\t\t2021 \u00a0
\n\t\t\t\t\tRemuneration to Board members \u00a0
\n\t\t\t\t\tBase remuneration \u00a0
\n\t\t\t\t\t576 \u00a0
\n\t\t\t\t\t480 \u00a0
\n\t\t\t\t\tAudit committee \u00a0
\n\t\t\t\t\t48 \u00a0
\n\t\t\t\t\t42 \u00a0
\n\t\t\t\t\tESG committee \u00a0
\n\t\t\t\t\t13 \u00a0
\n\t\t\t\t\t0
\n\t\t\t\t\tNomination committee \u00a0
\n\t\t\t\t\t24 \u00a0
\n\t\t\t\t\t20 \u00a0
\n\t\t\t\t\tRemuneration committee \u00a0
\n\t\t\t\t\t33 \u00a0
\n\t\t\t\t\t20 \u00a0
\n\t\t\t\t\tNKT Photonics working committee \u00a0
\n\t\t\t\t\t26 \u00a0
\n\t\t\t\t\t28 \u00a0
\n\t\t\t\t\tTotal \u00a0
\n\t\t\t\t\t720 \u00a0
\n\t\t\t\t\t590 \u00a0
",
"dimensions": {
"concept": "ifrs-full:DisclosureOfInformationAboutKeyManagementPersonnelExplanatory",
"language": "en",
"entity": "scheme:529900197LKWCEQ0NL18",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"fact2295": {
"value": "Accounting policy \u00a0
\n\t\t\t\t\tStaff costs comprise wages and salaries, remuner- \u00a0
\n\t\t\t\t\tation, pensions, etc., and share-based payment for \u00a0
\n\t\t\t\t\tthe company\u2019s employees, including Group Man- \u00a0
\n\t\t\t\t\tagement. The Board of Directors does not receive \u00a0
\n\t\t\t\t\tshare-based payment. \u00a0
Wages and salaries, social security contributions, \u00a0
\n\t\t\t\t\tleave and sick leave, bonuses and non-monetary \u00a0
\n\t\t\t\t\tbenefits are recognized in the financial year in which \u00a0
\n\t\t\t\t\tservices are rendered by the employee. When NKT \u00a0
\n\t\t\t\t\tprovides long-term employee benefits, the costs are \u00a0
\n\t\t\t\t\taccrued to match the rendering of services. \u00a0
Termination benefits are recognized when an \u00a0
\n\t\t\t\t\tagreement has been reached between NKT and the \u00a0
\n\t\t\t\t\temployee and no future service is rendered by the \u00a0
\n\t\t\t\t\temployee in exchange for the benefits. \u00a0
",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForEmployeeBenefitsExplanatory",
"language": "en",
"entity": "scheme:529900197LKWCEQ0NL18",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"fact2280": {
"value": "In NKT Group, most employees are covered by pension schemes, primarily in the form of \u00a0
\n\t\t\t\t\tdefined contribution-based plans managed by independent pension funds. \u00a0
NKT Group\u2019s defined benefit plans, primarily relating to the activities in Germany, are \u00a0
\n\t\t\t\t\trecognized at the present value of the actuarially measured obligations. If a plan is not fully \u00a0
\n\t\t\t\t\tcovered by plan assets, a plan liability is recognized in the balance sheet. Expenses relating \u00a0
\n\t\t\t\t\tto pension benefits are recognized as staff costs in the income statement. Actuarial gains or \u00a0
\n\t\t\t\t\tlosses are recognized in other comprehensive income, EUR 11.7m (EUR 2.3m in 2021), see \u00a0
\n\t\t\t\t\tnote 3.4 for more information. \u00a0
Amounts in EURk \u00a0
\n\t\t\t\t\t2022 \u00a0
\n\t\t\t\t\t2021 \u00a0
\n\t\t\t\t\tRemuneration to Executive Management \u00a0
\n\t\t\t\t\tSalary \u00a0
\n\t\t\t\t\t1,469 \u00a0
\n\t\t\t\t\t1,300 \u00a0
\n\t\t\t\t\tBonus \u00a0
\n\t\t\t\t\t1,153 \u00a0
\n\t\t\t\t\t1,199 \u00a0
\n\t\t\t\t\tPension \u00a0
\n\t\t\t\t\t75 \u00a0
\n\t\t\t\t\t61 \u00a0
\n\t\t\t\t\tLong-term incentive \u00a0
\n\t\t\t\t\t1,039 \u00a0
\n\t\t\t\t\t478 \u00a0
\n\t\t\t\t\tOther benefits \u00a0
\n\t\t\t\t\t114 \u00a0
\n\t\t\t\t\t114 \u00a0
\n\t\t\t\t\tTotal \u00a0
\n\t\t\t\t\t3,850 \u00a0
\n\t\t\t\t\t3,152 \u00a0
3.4 Provisions and pension liabilities \u00a0
\n\t\t\t\t\tWarranty Restructuring \u00a0
\n\t\t\t\t\tOther \u00a0
\n\t\t\t\t\tPension \u00a0
\n\t\t\t\t\tAmounts in EURm \u00a0
\n\t\t\t\t\tprovision \u00a0
\n\t\t\t\t\tprovision \u00a0
\n\t\t\t\t\tprovisions \u00a0
\n\t\t\t\t\tliabilities, net \u00a0
\n\t\t\t\t\tTotal \u00a0
\n\t\t\t\t\tProvisions, 1 January 2022 \u00a0
\n\t\t\t\t\t6.9 \u00a0
\n\t\t\t\t\t14.7 \u00a0
\n\t\t\t\t\t50.4 \u00a0
\n\t\t\t\t\t53.8 \u00a0
\n\t\t\t\t\t125.8 \u00a0
\n\t\t\t\t\tAdditions in the year \u00a0
\n\t\t\t\t\t0.5 \u00a0
\n\t\t\t\t\t0.1 \u00a0
\n\t\t\t\t\t14.2 \u00a0
\n\t\t\t\t\t1.1 \u00a0
\n\t\t\t\t\t15.9 \u00a0
\n\t\t\t\t\tUsed during the year \u00a0
\n\t\t\t\t\t-0.1 \u00a0
\n\t\t\t\t\t-5.3 \u00a0
\n\t\t\t\t\t-11.2 \u00a0
\n\t\t\t\t\t-1.9 \u00a0
\n\t\t\t\t\t-18.5 \u00a0
\n\t\t\t\t\tReversed during the year \u00a0
\n\t\t\t\t\t-4.9 \u00a0
\n\t\t\t\t\t-0.3 \u00a0
\n\t\t\t\t\t-27.7 \u00a0
\n\t\t\t\t\t0.0 \u00a0
\n\t\t\t\t\t-32.9 \u00a0
\n\t\t\t\t\tTransfer to assets held for sale \u00a0
\n\t\t\t\t\t-1.1 \u00a0
\n\t\t\t\t\t0.0 \u00a0
\n\t\t\t\t\t0.0 \u00a0
\n\t\t\t\t\t0.0 \u00a0
\n\t\t\t\t\t-1.1 \u00a0
\n\t\t\t\t\tExchange rate adjustment \u00a0
\n\t\t\t\t\t-0.4 \u00a0
\n\t\t\t\t\t0.0 \u00a0
\n\t\t\t\t\t-1.7 \u00a0
\n\t\t\t\t\t0.0 \u00a0
\n\t\t\t\t\t-2.1 \u00a0
\n\t\t\t\t\tActuarial gains/losses on defined benefit pension plans \u00a0
\n\t\t\t\t\t0.0 \u00a0
\n\t\t\t\t\t0.0 \u00a0
\n\t\t\t\t\t0.0 \u00a0
\n\t\t\t\t\t-11.7 \u00a0
\n\t\t\t\t\t-11.7 \u00a0
\n\t\t\t\t\tProvisions, 31 December 2022 \u00a0
\n\t\t\t\t\t0.9 \u00a0
\n\t\t\t\t\t9.2 \u00a0
\n\t\t\t\t\t24.0 \u00a0
\n\t\t\t\t\t41.3 \u00a0
\n\t\t\t\t\t75.4 \u00a0
\n\t\t\t\t\tProvisions are recognized in the balance sheet as: \u00a0
\n\t\t\t\t\tNon-current liabilities \u00a0
\n\t\t\t\t\t0.0 \u00a0
\n\t\t\t\t\t4.4 \u00a0
\n\t\t\t\t\t7.0 \u00a0
\n\t\t\t\t\t41.3 \u00a0
\n\t\t\t\t\t52.7 \u00a0
\n\t\t\t\t\tCurrent liabilities \u00a0
\n\t\t\t\t\t0.9 \u00a0
\n\t\t\t\t\t4.8 \u00a0
\n\t\t\t\t\t17.0 \u00a0
\n\t\t\t\t\t0.0 \u00a0
\n\t\t\t\t\t22.7 \u00a0
\n\t\t\t\t\t0.9 \u00a0
\n\t\t\t\t\t9.2 \u00a0
\n\t\t\t\t\t24.0 \u00a0
\n\t\t\t\t\t41.3 \u00a0
\n\t\t\t\t\t75.4 \u00a0
Actuarial gains related to the pension liabilities are recognized in other \u00a0
\n\t\t\t\t\tcomprehensive income. The pension liability also include other long term \u00a0
\n\t\t\t\t\tbenefits relating to anniversary bonuses, etc., amounting to EUR 2.0m \u00a0
\n\t\t\t\t\t(EUR 1.9m in 2021). At the end of 2022, there were no plan assets to be \u00a0
\n\t\t\t\t\toffset in the present value of the liability. \u00a0
\n\t\t\t\t\tActuarial assumptions applied \u00a0
\n\t\t\t\t\t2022 \u00a0
\n\t\t\t\t\t2021 \u00a0
\n\t\t\t\t\tDiscount rate \u00a0
\n\t\t\t\t\t3.4% \u00a0
\n\t\t\t\t\t1.1% \u00a0
\n\t\t\t\t\tFuture salary increases \u00a0
\n\t\t\t\t\t3.0% \u00a0
\n\t\t\t\t\t3.0% \u00a0
\n\t\t\t\t\tFuture pension increases \u00a0
\n\t\t\t\t\t2.2% \u00a0
\n\t\t\t\t\t2.0% \u00a0
Sensitivity analysis \u00a0
\n\t\t\t\t\tThe table below shows the sensitivity of the liability to changes in key \u00a0
\n\t\t\t\t\tassumptions for the measurement of the pension liabilities, net. The anal- \u00a0
\n\t\t\t\t\tysis is based on the changes in the applied key assumptions considered \u00a0
\n\t\t\t\t\treasonably likely provided the other parameters in the calculation are \u00a0
\n\t\t\t\t\tunchanged. \u00a0
\n\t\t\t\t\tAmounts in EURm \u00a0
\n\t\t\t\t\t2022 \u00a0
\n\t\t\t\t\t2021 \u00a0
\n\t\t\t\t\t+0.5%-point in discount rate \u00a0
\n\t\t\t\t\t-2.2 \u00a0
\n\t\t\t\t\t-3.5 \u00a0
\n\t\t\t\t\t-0.5%-point in discount rate \u00a0
\n\t\t\t\t\t2.5 \u00a0
\n\t\t\t\t\t3.9 \u00a0
",
"dimensions": {
"concept": "ifrs-full:DisclosureOfDefinedBenefitPlansExplanatory",
"language": "en",
"entity": "scheme:529900197LKWCEQ0NL18",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"fact2298": {
"value": "Termination benefits are recognized when an \u00a0
\n\t\t\t\t\tagreement has been reached between NKT and the \u00a0
\n\t\t\t\t\temployee and no future service is rendered by the \u00a0
\n\t\t\t\t\temployee in exchange for the benefits. \u00a0
",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForTerminationBenefits",
"language": "en",
"entity": "scheme:529900197LKWCEQ0NL18",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"fact2290": {
"value": "The Company has no related parties holding control. The Company\u2019s \u00a0
\n\t\t\t\t\trelated parties comprise the NKT Group Leadership Team and their close \u00a0
\n\t\t\t\t\tfamily members. Related parties also include businesses in which the \u00a0
\n\t\t\t\t\taforementioned have material interests. \u00a0
Amounts in EURk \u00a0
\n\t\t\t\t\t2022 \u00a0
\n\t\t\t\t\t2021 \u00a0
\n\t\t\t\t\tRemuneration to Board members \u00a0
\n\t\t\t\t\tBase remuneration \u00a0
\n\t\t\t\t\t576 \u00a0
\n\t\t\t\t\t480 \u00a0
\n\t\t\t\t\tAudit committee \u00a0
\n\t\t\t\t\t48 \u00a0
\n\t\t\t\t\t42 \u00a0
\n\t\t\t\t\tESG committee \u00a0
\n\t\t\t\t\t13 \u00a0
\n\t\t\t\t\t0
\n\t\t\t\t\tNomination committee \u00a0
\n\t\t\t\t\t24 \u00a0
\n\t\t\t\t\t20 \u00a0
\n\t\t\t\t\tRemuneration committee \u00a0
\n\t\t\t\t\t33 \u00a0
\n\t\t\t\t\t20 \u00a0
\n\t\t\t\t\tNKT Photonics working committee \u00a0
\n\t\t\t\t\t26 \u00a0
\n\t\t\t\t\t28 \u00a0
\n\t\t\t\t\tTotal \u00a0
\n\t\t\t\t\t720 \u00a0
\n\t\t\t\t\t590 \u00a0
6.2 Group companies \u00a0
\n\t\t\t\t\tGroup companies \u00a0
\n\t\t\t\t\tDomicile \u00a0
\n\t\t\t\t\tNKT Group \u00a0
\n\t\t\t\t\tDenmark \u00a0
\n\t\t\t\t\tNKT Cables Group A/S \u00a0
\n\t\t\t\t\tDenmark \u00a0
\n\t\t\t\t\tNKT (Denmark) A/S \u00a0
\n\t\t\t\t\tDenmark \u00a0
\n\t\t\t\t\tNKT Invest A/S \u00a0
\n\t\t\t\t\tDenmark \u00a0
\n\t\t\t\t\tEurope \u00a0
\n\t\t\t\t\tNKT Group GmbH1 \u00a0
\n\t\t\t\t\tGermany \u00a0
\n\t\t\t\t\tNKT Verwaltungs GmbH \u00a0
\n\t\t\t\t\tGermany \u00a0
\n\t\t\t\t\tNKT GmbH & Co. KG \u00a0
\n\t\t\t\t\tGermany \u00a0
\n\t\t\t\t\tNKT GmbH \u00a0
\n\t\t\t\t\tGermany \u00a0
\n\t\t\t\t\tZweite NKT GmbH \u00a0
\n\t\t\t\t\tGermany \u00a0
\n\t\t\t\t\tNKT s.r.o. \u00a0
\n\t\t\t\t\tCzech Republic \u00a0
\n\t\t\t\t\tNKT (Ib\u00e9rica) S.L. \u00a0
\n\t\t\t\t\tSpain \u00a0
\n\t\t\t\t\tNKT (Sweden) AB \u00a0
\n\t\t\t\t\tSweden \u00a0
\n\t\t\t\t\tNKT HV Cables AB \u00a0
\n\t\t\t\t\tSweden \u00a0
\n\t\t\t\t\tNKT AS \u00a0
\n\t\t\t\t\tNorway \u00a0
\n\t\t\t\t\tNKT HVC AS \u00a0
\n\t\t\t\t\tNorway \u00a0
\n\t\t\t\t\tNKT (U.K.) Ltd. \u00a0
\n\t\t\t\t\tUK \u00a0
\n\t\t\t\t\tNKT HVC Ltd. \u00a0
\n\t\t\t\t\tUK \u00a0
\n\t\t\t\t\tVentcroft Ltd. \u00a0
\n\t\t\t\t\tUK \u00a0
\n\t\t\t\t\tNKT S.A. \u00a0
\n\t\t\t\t\tPoland \u00a0
\n\t\t\t\t\tNKT HVC B.V. \u00a0
\n\t\t\t\t\tNetherlands \u00a0
\n\t\t\t\t\tNKT HV Cables GmbH \u00a0
\n\t\t\t\t\tSwitzerland \u00a0
\n\t\t\t\t\tNKT Lithuania, UAB \u00a0
\n\t\t\t\t\tLithuania \u00a0
\n\t\t\t\t\tAmerica \u00a0
\n\t\t\t\t\tNKT, Inc \u00a0
\n\t\t\t\t\tUS \u00a0
Group companies \u00a0
\n\t\t\t\t\tDomicile \u00a0
\n\t\t\t\t\tMiddle East \u00a0
\n\t\t\t\t\tNKT Middle East DMCC \u00a0
\n\t\t\t\t\tDubai \u00a0
\n\t\t\t\t\tAsia/Pacific \u00a0
\n\t\t\t\t\tNKT Pty Ltd \u00a0
\n\t\t\t\t\tAustralia \u00a0
\n\t\t\t\t\tNKT South Asia Private Limited \u00a0
\n\t\t\t\t\tIndia \u00a0
\n\t\t\t\t\tNKT Operations India Private Limited \u00a0
\n\t\t\t\t\tIndia \u00a0
\n\t\t\t\t\tNKT Photonics Group \u00a0
\n\t\t\t\t\tDenmark \u00a0
\n\t\t\t\t\tNKT Photonics A/S \u00a0
\n\t\t\t\t\tDenmark \u00a0
\n\t\t\t\t\tEurope \u00a0
\n\t\t\t\t\tNKT Photonics Technology GmbH \u00a0
\n\t\t\t\t\tGermany \u00a0
\n\t\t\t\t\tAdvanced Laserdiode Systems A.L.S. GmbH
Germany \u00a0
\n\t\t\t\t\tNKT Photonics Switzerland GmbH \u00a0
\n\t\t\t\t\tSwitzerland \u00a0
\n\t\t\t\t\tNKT Photonics Holding Ltd \u00a0
\n\t\t\t\t\tUK \u00a0
\n\t\t\t\t\tNKT Photonics Ltd \u00a0
\n\t\t\t\t\tUK \u00a0
\n\t\t\t\t\tNKT Photonics AB \u00a0
\n\t\t\t\t\tSweden \u00a0
\n\t\t\t\t\tAmerica \u00a0
\n\t\t\t\t\tNKT Photonics Inc. \u00a0
\n\t\t\t\t\tUS \u00a0
\n\t\t\t\t\tAsia/Pacific \u00a0
\n\t\t\t\t\tNKT Photonics (Zhenzhen) Co., Ltd. \u00a0
\n\t\t\t\t\tChina \u00a0
\n\t\t\t\t\tRepublic of \u00a0
\n\t\t\t\t\tNKT Photonics Korea Co., Ltd. \u00a0
\n\t\t\t\t\tKorea \u00a0
\n\t\t\t\t\tFianium Asia Ltd. \u00a0
\n\t\t\t\t\tHong Kong \u00a0
All Group companies are wholly owned. \u00a0
\n\t\t\t\t\tCompanies without material interest and dormant companies are omitted from the list. \u00a0
\n\t\t\t\t\t1 The Group has applied Section 264b of the German Commercial Code (\u201cHandelsgesetzbuch\u201d) by which \u00a0
\n\t\t\t\t\tNKT Group GmbH is exempted from filing local financial statement. \u00a0
",
"dimensions": {
"concept": "ifrs-full:DisclosureOfRelatedPartyExplanatory",
"language": "en",
"entity": "scheme:529900197LKWCEQ0NL18",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"fact2299": {
"value": "2.3 Share-based payment \u00a0
\n\t\t\t\t\tLong-term incentive programs for Executive Management \u00a0
\n\t\t\t\t\tand Group Leadership Team \u00a0
\n\t\t\t\t\tThe decision to award performance shares to the Executive Manage- \u00a0
\n\t\t\t\t\tment, the Group Leadership Team (GLT) and selected employees is \u00a0
\n\t\t\t\t\tmade each year at the discretion of the Board of Directors after rec- \u00a0
\n\t\t\t\t\tommendation from the Remuneration Committee. The awarded shares \u00a0
\n\t\t\t\t\trepresent a conditional right to receive shares after a three-year per- \u00a0
\n\t\t\t\t\tformance period at nil payment. The Board of Directors may decide to \u00a0
\n\t\t\t\t\tmake cash awards in a given year. The performance shares vest subject \u00a0
\n\t\t\t\t\tto continued employment and the achievement of certain performance \u00a0
\n\t\t\t\t\ttargets over a three-year period. \u00a0
\n\t\t\t\t\tFor more information on the grant of performance shares, refer to the \u00a0
\n\t\t\t\t\tGroup\u2019s Remuneration Report available on the website. \u00a0
\n\t\t\t\t\tIn 2022, a new performance share program was awarded to 18 partici- \u00a0
\n\t\t\t\t\tpants (19 in 2021) with a vesting period of 3 years. All programs contain \u00a0
\n\t\t\t\t\ttwo key performance targets, one relating to operational EBITDA, and \u00a0
\n\t\t\t\t\tone relating to Total Shareholder Return (TSR). The total market value at \u00a0
\n\t\t\t\t\taward date was EUR 2.5m (EUR 2.0m in 2021). \u00a0
\n\t\t\t\t\tFor the 2020 program, both the TSR target and EBITDA target were met \u00a0
\n\t\t\t\t\tand 82.092 shares will vest in February 2023. \u00a0
\n\t\t\t\t\tCosts relating to share-based payments in 2022 was EUR 2.7m (EUR \u00a0
\n\t\t\t\t\t1.5m in 2021). The increased costs was mainly driven by an increased \u00a0
\n\t\t\t\t\tnumber of shares in later programs, but also because the EBITDA target \u00a0
\n\t\t\t\t\tfor the 2020 program was reached in 2022, which was previously only \u00a0
\n\t\t\t\t\texpected to be partially reached. \u00a0
\n\t\t\t\t\tRemaining value to be expensed relating to current programs is EUR \u00a0
\n\t\t\t\t\t2.6m (EUR 2.3m in 2021). The weighted average remaining contractual \u00a0
\n\t\t\t\t\tlife of performance shares at the end of the period was 1.1 years (1.2 \u00a0
\n\t\t\t\t\tyears in 2021). \u00a0
Assumptions \u00a0
\n\t\t\t\t\tThe value of each Performance shares Program (PSP) granted is calcu- \u00a0
\n\t\t\t\t\tlated based on a number of assumptions including expected dividend \u00a0
\n\t\t\t\t\tpayout during the vesting period, the volatility of NKT\u2019s share price \u00a0
\n\t\t\t\t\t(usually measured over a two year period), risk free interest rate and \u00a0
\n\t\t\t\t\texpected vesting period, usually 30-36 months. Apart from the expected \u00a0
\n\t\t\t\t\tdividend payout, which may vary in terms of actual payout, none of the \u00a0
\n\t\t\t\t\tassumptions listed have a material impact on the value of the PSP. \u00a0
Performance shares \u00a0
\n\t\t\t\t\tExecutive \u00a0
\n\t\t\t\t\tOther \u00a0
\n\t\t\t\t\toutstanding \u00a0
\n\t\t\t\t\tmanagement employees \u00a0
\n\t\t\t\t\tTotal \u00a0
\n\t\t\t\t\t1 January 2021 \u00a0
\n\t\t\t\t\t42,435 \u00a0
\n\t\t\t\t\t119,100 161,535 \u00a0
\n\t\t\t\t\tShares granted during the year \u00a0
\n\t\t\t\t\t28,631 \u00a0
\n\t\t\t\t\t41,125 69,756 \u00a0
\n\t\t\t\t\tShares lapsed during the year \u00a0
\n\t\t\t\t\t-3,118 \u00a0
\n\t\t\t\t\t-17,128 -20,246 \u00a0
\n\t\t\t\t\t31 December 2021 \u00a0
\n\t\t\t\t\t67,948 \u00a0
\n\t\t\t\t\t143,097 211,045 \u00a0
\n\t\t\t\t\t1 January 2022 \u00a0
\n\t\t\t\t\t67,948 \u00a0
\n\t\t\t\t\t143,097 211,045 \u00a0
\n\t\t\t\t\tShares granted during the year \u00a0
\n\t\t\t\t\t30,554 \u00a0
\n\t\t\t\t\t42,335 \u00a0
\n\t\t\t\t\t72,889 \u00a0
\n\t\t\t\t\tShares lapsed during the year \u00a0
\n\t\t\t\t\t-10,586 \u00a0
\n\t\t\t\t\t-50,908 -61,494 \u00a0
\n\t\t\t\t\t31 December 2022 \u00a0
\n\t\t\t\t\t87,916 \u00a0
\n\t\t\t\t\t134,524 222,440 \u00a0
Accounting policy \u00a0
\n\t\t\t\t\tThe share-based payments contain internal performance measures and \u00a0
\n\t\t\t\t\texternal market return measures. At the grant date the value of services \u00a0
\n\t\t\t\t\treceived in exchange for share-based payments are measured at the fair \u00a0
\n\t\t\t\t\tvalue. The fair value of share-based payments is estimated using a valua- \u00a0
\n\t\t\t\t\ttion model that takes into account the terms and conditions upon which \u00a0
\n\t\t\t\t\tgranting took place. During the vesting period, the costs related to the \u00a0
\n\t\t\t\t\tplans are recognized as staff costs and an equal amount is recognized \u00a0
\n\t\t\t\t\tin equity. For the internal performance targets, costs are recognized \u00a0
\n\t\t\t\t\tover the vesting period based on the number of shares expected to \u00a0
\n\t\t\t\t\tvest, whereas for the market return elements, costs are recognized over \u00a0
\n\t\t\t\t\tthe vesting period disregarding any changes in the number of shares \u00a0
\n\t\t\t\t\texpected to vest. \u00a0
",
"dimensions": {
"concept": "ifrs-full:DisclosureOfSharebasedPaymentArrangementsExplanatory",
"language": "en",
"entity": "scheme:529900197LKWCEQ0NL18",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"fact2304": {
"value": "2.4 Research and development \u00a0
\n\t\t\t\t\tAmounts in EURm \u00a0
\n\t\t\t\t\t2022 \u00a0
\n\t\t\t\t\t2021 \u00a0
\n\t\t\t\t\tResearch and development costs - staff costs \u00a0
\n\t\t\t\t\t5.2 \u00a0
\n\t\t\t\t\t5.5 \u00a0
\n\t\t\t\t\tResearch and development costs - other costs \u00a0
\n\t\t\t\t\t32.1 \u00a0
\n\t\t\t\t\t27.3 \u00a0
\n\t\t\t\t\tTotal research and development costs \u00a0
\n\t\t\t\t\t37.3 \u00a0
\n\t\t\t\t\t32.8 \u00a0
\n\t\t\t\t\tRecognized as follows: \u00a0
\n\t\t\t\t\tExpensed in the income statement \u00a0
\n\t\t\t\t\t6.0 \u00a0
\n\t\t\t\t\t7.1 \u00a0
\n\t\t\t\t\tCapitalized in the balance sheet \u00a0
\n\t\t\t\t\t31.3 \u00a0
\n\t\t\t\t\t25.7 \u00a0
\n\t\t\t\t\tTotal research and development costs \u00a0
\n\t\t\t\t\t37.3 \u00a0
\n\t\t\t\t\t32.8 \u00a0
Accounting policy \u00a0
\n\t\t\t\t\tResearch costs are expensed in the income statement as they occur. \u00a0
\n\t\t\t\t\tClearly defined and identifiable development projects are recognized as \u00a0
\n\t\t\t\t\tintangible assets provided that the following requirements are met: the \u00a0
\n\t\t\t\t\ttechnical feasibility, adequacy of resources and a potential future market \u00a0
\n\t\t\t\t\tcan be demonstrated, it is intended to manufacture, market or utilize \u00a0
\n\t\t\t\t\tthe project, the cost can be reliably determined, and there is reasonable \u00a0
\n\t\t\t\t\tcertainty that the future earnings or net selling prices can cover the car- \u00a0
\n\t\t\t\t\trying amount as well as the development costs necessary to finalize the \u00a0
\n\t\t\t\t\tproject. Other development costs are expensed in the income statement \u00a0
\n\t\t\t\t\tas incurred. Capitalized development projects are measured at cost less \u00a0
\n\t\t\t\t\taccumulated amortization and impairment losses. The cost includes \u00a0
\n\t\t\t\t\twages, amortization and other costs relating to the Group\u2019s development \u00a0
\n\t\t\t\t\tactivities. On completion of the development work, development projects \u00a0
\n\t\t\t\t\tare amortized on a straight-line basis over their estimated useful life from \u00a0
\n\t\t\t\t\tthe date the asset is available for use. The amortization period is usually \u00a0
\n\t\t\t\t\t3\u201310 years. The amortization base is reduced by any impairment losses. \u00a0
",
"dimensions": {
"concept": "ifrs-full:DisclosureOfResearchAndDevelopmentExpenseExplanatory",
"language": "en",
"entity": "scheme:529900197LKWCEQ0NL18",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"fact2306": {
"value": "Accounting policy \u00a0
\n\t\t\t\t\tResearch costs are expensed in the income statement as they occur. \u00a0
\n\t\t\t\t\tClearly defined and identifiable development projects are recognized as \u00a0
\n\t\t\t\t\tintangible assets provided that the following requirements are met: the \u00a0
\n\t\t\t\t\ttechnical feasibility, adequacy of resources and a potential future market \u00a0
\n\t\t\t\t\tcan be demonstrated, it is intended to manufacture, market or utilize \u00a0
\n\t\t\t\t\tthe project, the cost can be reliably determined, and there is reasonable \u00a0
\n\t\t\t\t\tcertainty that the future earnings or net selling prices can cover the car- \u00a0
\n\t\t\t\t\trying amount as well as the development costs necessary to finalize the \u00a0
\n\t\t\t\t\tproject. Other development costs are expensed in the income statement \u00a0
\n\t\t\t\t\tas incurred. Capitalized development projects are measured at cost less \u00a0
\n\t\t\t\t\taccumulated amortization and impairment losses. The cost includes \u00a0
\n\t\t\t\t\twages, amortization and other costs relating to the Group\u2019s development \u00a0
\n\t\t\t\t\tactivities. On completion of the development work, development projects \u00a0
\n\t\t\t\t\tare amortized on a straight-line basis over their estimated useful life from \u00a0
\n\t\t\t\t\tthe date the asset is available for use. The amortization period is usually \u00a0
\n\t\t\t\t\t3\u201310 years. The amortization base is reduced by any impairment losses. \u00a0
",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForResearchAndDevelopmentExpenseExplanatory",
"language": "en",
"entity": "scheme:529900197LKWCEQ0NL18",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"fact2303": {
"value": "Accounting policy \u00a0
\n\t\t\t\t\tThe share-based payments contain internal performance measures and \u00a0
\n\t\t\t\t\texternal market return measures. At the grant date the value of services \u00a0
\n\t\t\t\t\treceived in exchange for share-based payments are measured at the fair \u00a0
\n\t\t\t\t\tvalue. The fair value of share-based payments is estimated using a valua- \u00a0
\n\t\t\t\t\ttion model that takes into account the terms and conditions upon which \u00a0
\n\t\t\t\t\tgranting took place. During the vesting period, the costs related to the \u00a0
\n\t\t\t\t\tplans are recognized as staff costs and an equal amount is recognized \u00a0
\n\t\t\t\t\tin equity. For the internal performance targets, costs are recognized \u00a0
\n\t\t\t\t\tover the vesting period based on the number of shares expected to \u00a0
\n\t\t\t\t\tvest, whereas for the market return elements, costs are recognized over \u00a0
\n\t\t\t\t\tthe vesting period disregarding any changes in the number of shares \u00a0
\n\t\t\t\t\texpected to vest. \u00a0
",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForSharebasedPaymentTransactionsExplanatory",
"language": "en",
"entity": "scheme:529900197LKWCEQ0NL18",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"fact2307": {
"value": "2.5 Tax \u00a0
\n\t\t\t\t\tTax Approach \u00a0
\n\t\t\t\t\tNKT Group complies with the tax legislation of the countries in which it \u00a0
\n\t\t\t\t\toperates and seeks to pay the right amount of tax in the countries where \u00a0
\n\t\t\t\t\tit creates value. \u00a0
\n\t\t\t\t\tNKT Group only uses business structures that are driven by commercial \u00a0
\n\t\t\t\t\tconsideration and have the genuine substance. \u00a0
\n\t\t\t\t\tNKT Group does not operate in tax havens. In accordance with NKT \u00a0
\n\t\t\t\t\tGroup\u2019s tax policy, any future operations in tax havens will be purely of \u00a0
\n\t\t\t\t\tcommercial reasons. \u00a0
\n\t\t\t\t\tNKT Group believes in collaboration and transparency regarding its tax \u00a0
\n\t\t\t\t\tmatters and actively pursues opportunities to engage with tax author- \u00a0
\n\t\t\t\t\tities and other relevant stakeholders with the purpose of building trust \u00a0
\n\t\t\t\t\tthrough collaboration and openness. \u00a0
\n\t\t\t\t\tNKT Group realized earning before tax (EBT) of EUR 78.3m (EUR 15.7 in \u00a0
\n\t\t\t\t\t2021), which resulted in a reported tax rate of 29.6% (24.1% in 2021). \u00a0
\n\t\t\t\t\tThe reported tax rate of 29.6% was primarily impacted by changes to \u00a0
\n\t\t\t\t\tdeferred tax assets in Germany and utilization of not recognized deferred \u00a0
\n\t\t\t\t\ttax assets in Denmark. \u00a0
\n\t\t\t\t\tIn 2022, NKT Group paid on net amount of EUR 15.3m in corporate \u00a0
\n\t\t\t\t\tincome tax compared to paying a net amount of EUR 0.4m in 2021. \u00a0
\n\t\t\t\t\tEarnings realised in NKT Group\u2019s Danish companies resulted in payable \u00a0
\n\t\t\t\t\tcorporate tax of EUR 3.3m after utilizing tax losses carried forward (EUR \u00a0
\n\t\t\t\t\t0.3m in 2021). \u00a0
Amounts in EUR \u00a0
\n\t\t\t\t\t2022 \u00a0
\n\t\t\t\t\t2021 \u00a0
\n\t\t\t\t\tTax recognized in the income statement \u00a0
\n\t\t\t\t\tCurrent tax \u00a0
\n\t\t\t\t\t11.1 \u00a0
\n\t\t\t\t\t7.6 \u00a0
\n\t\t\t\t\tCurrent tax, adj. prior years \u00a0
\n\t\t\t\t\t1.5 \u00a0
\n\t\t\t\t\t-0.3 \u00a0
\n\t\t\t\t\tDeferred tax \u00a0
\n\t\t\t\t\t13.6 \u00a0
\n\t\t\t\t\t-4.9 \u00a0
\n\t\t\t\t\tDeferred tax, adj. prior years \u00a0
\n\t\t\t\t\t-3.0 \u00a0
\n\t\t\t\t\t1.4 \u00a0
\n\t\t\t\t\t23.2 \u00a0
\n\t\t\t\t\t3.8 \u00a0
\n\t\t\t\t\tTax rate for the year \u00a0
\n\t\t\t\t\t29.6% \u00a0
\n\t\t\t\t\t24.1% \u00a0
\n\t\t\t\t\tReconciliation of tax: \u00a0
\n\t\t\t\t\tCalculated 22.0% tax on earnings before tax \u00a0
\n\t\t\t\t\t17.2 \u00a0
\n\t\t\t\t\t3.4 \u00a0
\n\t\t\t\t\tTax effect of: \u00a0
\n\t\t\t\t\tForeing tax rates relative to Danish tax rate \u00a0
\n\t\t\t\t\t-5.0 \u00a0
\n\t\t\t\t\t-2.8 \u00a0
\n\t\t\t\t\tNon-taxable income/ \u00a0
\n\t\t\t\t\tnon-deductible expenses, net \u00a0
\n\t\t\t\t\t-4.1 \u00a0
\n\t\t\t\t\t1.6 \u00a0
\n\t\t\t\t\tAdjustment for previous years \u00a0
\n\t\t\t\t\t-1.5 \u00a0
\n\t\t\t\t\t1.1 \u00a0
\n\t\t\t\t\tValue adjustment of tax assets \u00a0
\n\t\t\t\t\t16.6 \u00a0
\n\t\t\t\t\t0.5 \u00a0
\n\t\t\t\t\t23.2 \u00a0
\n\t\t\t\t\t3.8 \u00a0
Amounts in EURm \u00a0
\n\t\t\t\t\t2022 \u00a0
\n\t\t\t\t\t2021 \u00a0
\n\t\t\t\t\tDeferred tax, 1 January, net \u00a0
\n\t\t\t\t\t-46.9 \u00a0
\n\t\t\t\t\t-17.8 \u00a0
\n\t\t\t\t\tTax recognized in other comprehensive income \u00a0
\n\t\t\t\t\t10.2 \u00a0
\n\t\t\t\t\t-34.1 \u00a0
\n\t\t\t\t\tAddition from acquisitions \u00a0
\n\t\t\t\t\t-0.9 \u00a0
\n\t\t\t\t\t0.0 \u00a0
\n\t\t\t\t\tDeferred tax recognized in income statement \u00a0
\n\t\t\t\t\t-10.6 \u00a0
\n\t\t\t\t\t3.9 \u00a0
\n\t\t\t\t\tTransferred to payable tax \u00a0
\n\t\t\t\t\t0.0 \u00a0
\n\t\t\t\t\t0.5 \u00a0
\n\t\t\t\t\tTransferred to assets held for sale \u00a0
\n\t\t\t\t\t2.4 \u00a0
\n\t\t\t\t\t0.0 \u00a0
\n\t\t\t\t\tForeign exchange adjustment \u00a0
\n\t\t\t\t\t2.6 \u00a0
\n\t\t\t\t\t0.6 \u00a0
\n\t\t\t\t\tDeferred tax, 31 December, net \u00a0
\n\t\t\t\t\t-43.2 \u00a0
\n\t\t\t\t\t-46.9 \u00a0
\n\t\t\t\t\tRecognized deferred tax: \u00a0
\n\t\t\t\t\tDeferred tax assets, 31 December \u00a0
\n\t\t\t\t\t11.7 \u00a0
\n\t\t\t\t\t24.9 \u00a0
\n\t\t\t\t\tDeferred tax liabilities, 31 December \u00a0
\n\t\t\t\t\t-54.9 \u00a0
\n\t\t\t\t\t-71.8 \u00a0
\n\t\t\t\t\tDeferred tax, 31 December, net \u00a0
\n\t\t\t\t\t-43.2 \u00a0
\n\t\t\t\t\t-46.9 \u00a0
\n\t\t\t\t\tSpecification on deferred tax assets and liabilities: \u00a0
\n\t\t\t\t\tIntangible assets \u00a0
\n\t\t\t\t\t-22.7 \u00a0
\n\t\t\t\t\t-22.0 \u00a0
\n\t\t\t\t\tTangible assets \u00a0
\n\t\t\t\t\t-13.3 \u00a0
\n\t\t\t\t\t-16.3 \u00a0
\n\t\t\t\t\tOther non-current assets \u00a0
\n\t\t\t\t\t1.4 \u00a0
\n\t\t\t\t\t1.7 \u00a0
\n\t\t\t\t\tCurrent assets \u00a0
\n\t\t\t\t\t-65.1 \u00a0
\n\t\t\t\t\t-81.1 \u00a0
\n\t\t\t\t\tNon-current liabilities \u00a0
\n\t\t\t\t\t5.8 \u00a0
\n\t\t\t\t\t8.0 \u00a0
\n\t\t\t\t\tCurrent liabilities \u00a0
\n\t\t\t\t\t13.7 \u00a0
\n\t\t\t\t\t4.1 \u00a0
\n\t\t\t\t\tTax losses \u00a0
\n\t\t\t\t\t128.7 \u00a0
\n\t\t\t\t\t130.6 \u00a0
\n\t\t\t\t\tValuation allowance, unrecognized tax assets \u00a0
\n\t\t\t\t\t-92.7 \u00a0
\n\t\t\t\t\t-81.7 \u00a0
\n\t\t\t\t\tOther \u00a0
\n\t\t\t\t\t1.0 \u00a0
\n\t\t\t\t\t9.8 \u00a0
\n\t\t\t\t\tDeferred tax, 31 December, net \u00a0
\n\t\t\t\t\t-43.2 \u00a0
\n\t\t\t\t\t-46.9 \u00a0
Significant estimates \u00a0
\n\t\t\t\t\tThe measurement of deferred tax assets and liabilities \u00a0
\n\t\t\t\t\tis based on the corporate tax rate applicable in the \u00a0
\n\t\t\t\t\tyears when the assets and liabilities are expected \u00a0
\n\t\t\t\t\tto be utilized. The measurement of the tax assets \u00a0
\n\t\t\t\t\tis based on budgets and estimates for the coming \u00a0
\n\t\t\t\t\tyears, which by nature are subject to uncertainty. \u00a0
\n\t\t\t\t\tAs a result, there can be a substantial difference \u00a0
\n\t\t\t\t\tbetween the expected use of the tax asset and actual \u00a0
\n\t\t\t\t\tuse of the tax asset related to previous years in the \u00a0
\n\t\t\t\t\tconsolidated income statement. \u00a0
\n\t\t\t\t\tThe majority of the deferred tax assets relate to \u00a0
\n\t\t\t\t\tNKT Group\u2019s German tax unit. The utilization of the \u00a0
\n\t\t\t\t\tGerman tax asset is depending on a successful \u00a0
\n\t\t\t\t\tturn-around of high-voltage business. The tax losses \u00a0
\n\t\t\t\t\tcarried forward from the German tax unit increased \u00a0
\n\t\t\t\t\tfrom EUR 311.8m in 2021 to EUR 387.9m in 2022. \u00a0
\n\t\t\t\t\tThe total deferred tax value amounts to EUR 124.1m. \u00a0
\n\t\t\t\t\tNKT Group has recognized a deferred tax hereof of \u00a0
\n\t\t\t\t\tEUR 30.7m at year-end (EUR 29.9m in 2021). \u00a0
\n\t\t\t\t\tThe tax losses carried forward in the Danish tax unit \u00a0
\n\t\t\t\t\twere fully utilized during 2022. \u00a0
\n\t\t\t\t\tThe tax losses carried forward at end-2022 in the \u00a0
\n\t\t\t\t\tSwedish tax unit sums up to EUR 6.3m, which lead \u00a0
\n\t\t\t\t\tto a deferred tax asset of EUR 1.3m (EUR 11.2m in \u00a0
\n\t\t\t\t\t2021). Further, a deferred tax asset of EUR 11.3 relat- \u00a0
\n\t\t\t\t\ting to interest carried forward has been recognized \u00a0
\n\t\t\t\t\t(EUR 12.0m in 2021). The deferred tax asset has \u00a0
\n\t\t\t\t\tbeen fully offset against a deferred tax liability. \u00a0
\n\t\t\t\t\tTax losses in Germany and Sweden has no expiry \u00a0
\n\t\t\t\t\tdate. \u00a0
NKT Group reported a net deferred tax liability of EUR \u00a0
\n\t\t\t\t\t43.2m (EUR 46.9m in 2021). The development mainly \u00a0
\n\t\t\t\t\trelates to deferred tax liability related to hedge ac- \u00a0
\n\t\t\t\t\tcounting recognized in other comprehensive income \u00a0
\n\t\t\t\t\tand deferred tax liability related to timing differences \u00a0
\n\t\t\t\t\tin revenue recognition in Germany and utilization of \u00a0
\n\t\t\t\t\ttax losses carried forward in Denmark and Sweden. \u00a0
Management judgement regarding deferred \u00a0
\n\t\t\t\t\ttax assets and provision for uncertain tax \u00a0
\n\t\t\t\t\tpositions \u00a0
\n\t\t\t\t\tDeferred tax assets relating to tax losses carried \u00a0
\n\t\t\t\t\tforward are recognized when Management assesses \u00a0
\n\t\t\t\t\tthat these can be utilized in a foreseeable future. \u00a0
\n\t\t\t\t\tThe assessment is performed at the reporting date \u00a0
\n\t\t\t\t\tconsidering local tax legislation and Management\u2019s \u00a0
\n\t\t\t\t\tbusiness plans. Planned changes to capital structure \u00a0
\n\t\t\t\t\tare included in the assessment. \u00a0
\n\t\t\t\t\tAs the NKT Group conducts business around the \u00a0
\n\t\t\t\t\tworld, tax and transfer pricing disputes with local \u00a0
\n\t\t\t\t\ttax authorities may occur. When assessing the \u00a0
\n\t\t\t\t\texpected outcome of these possible disputes, NKT \u00a0
\n\t\t\t\t\tGroup applies IFRIC 23 \u2018Uncertainty over Income \u00a0
\n\t\t\t\t\tTax Treatments\u2019 and methods directed herein when \u00a0
\n\t\t\t\t\tmaking provisions for uncertain tax positions. As \u00a0
\n\t\t\t\t\tthis is an assessment, the actual obligations may \u00a0
\n\t\t\t\t\tdeviate and will depend on the result of litigations \u00a0
\n\t\t\t\t\tand settlements with the tax authorities. Any taxes \u00a0
\n\t\t\t\t\trelating to tax disputes are included in \u2018Income tax \u00a0
\n\t\t\t\t\treceivables\u2019, \u2018Income tax payables\u2019 and \u2018Deferred tax\u2019 \u00a0
\n\t\t\t\t\tbased on an assessment of the most likely outcome \u00a0
\n\t\t\t\t\tof the disputes. \u00a0
Deferred tax \u00a0
\n\t\t\t\t\tDeferred tax is measured according to the balance \u00a0
\n\t\t\t\t\tsheet liability method on all temporary differences \u00a0
\n\t\t\t\t\tbetween the carrying amount and the tax base of \u00a0
\n\t\t\t\t\tassets and liabilities. However, deferred tax is not rec- \u00a0
\n\t\t\t\t\tognized on temporary differences relating to buildings \u00a0
\n\t\t\t\t\tand goodwill that for tax purposes do not qualify for \u00a0
\n\t\t\t\t\tdepreciation and amortization, respectively, nor on \u00a0
\n\t\t\t\t\tother items where temporary differences \u2013 except for \u00a0
\n\t\t\t\t\tacquisitions \u2013 arose at the acquisition date without \u00a0
\n\t\t\t\t\tinfluencing either net earnings or taxable income. \u00a0
\n\t\t\t\t\tWhere alternative taxation rules can be applied to \u00a0
\n\t\t\t\t\tdetermine the tax base, deferred tax is measured \u00a0
\n\t\t\t\t\taccording to Group Management\u2019s planned use of \u00a0
\n\t\t\t\t\tthe assets or settlement of the liabilities, respectively. \u00a0
Deferred tax assets, including the tax base of tax \u00a0
\n\t\t\t\t\tlosses allowed for carry forward, are recognized at \u00a0
\n\t\t\t\t\ttheir expected utilization value within the foreseeable \u00a0
\n\t\t\t\t\tfuture. \u00a0
\n\t\t\t\t\tDeferred tax assets and tax liabilities are offset if the \u00a0
\n\t\t\t\t\tcompany has a legal right to offset current tax assets \u00a0
\n\t\t\t\t\tand liabilities and intends to settle current tax assets \u00a0
\n\t\t\t\t\tand liabilities on a net basis or to realize the assets \u00a0
\n\t\t\t\t\tand liabilities simultaneously. \u00a0
",
"dimensions": {
"concept": "ifrs-full:DisclosureOfDeferredTaxesExplanatory",
"language": "en",
"entity": "scheme:529900197LKWCEQ0NL18",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"fact2315": {
"value": "2.5 Tax \u00a0
\n\t\t\t\t\tTax Approach \u00a0
\n\t\t\t\t\tNKT Group complies with the tax legislation of the countries in which it \u00a0
\n\t\t\t\t\toperates and seeks to pay the right amount of tax in the countries where \u00a0
\n\t\t\t\t\tit creates value. \u00a0
\n\t\t\t\t\tNKT Group only uses business structures that are driven by commercial \u00a0
\n\t\t\t\t\tconsideration and have the genuine substance. \u00a0
\n\t\t\t\t\tNKT Group does not operate in tax havens. In accordance with NKT \u00a0
\n\t\t\t\t\tGroup\u2019s tax policy, any future operations in tax havens will be purely of \u00a0
\n\t\t\t\t\tcommercial reasons. \u00a0
\n\t\t\t\t\tNKT Group believes in collaboration and transparency regarding its tax \u00a0
\n\t\t\t\t\tmatters and actively pursues opportunities to engage with tax author- \u00a0
\n\t\t\t\t\tities and other relevant stakeholders with the purpose of building trust \u00a0
\n\t\t\t\t\tthrough collaboration and openness. \u00a0
\n\t\t\t\t\tNKT Group realized earning before tax (EBT) of EUR 78.3m (EUR 15.7 in \u00a0
\n\t\t\t\t\t2021), which resulted in a reported tax rate of 29.6% (24.1% in 2021). \u00a0
\n\t\t\t\t\tThe reported tax rate of 29.6% was primarily impacted by changes to \u00a0
\n\t\t\t\t\tdeferred tax assets in Germany and utilization of not recognized deferred \u00a0
\n\t\t\t\t\ttax assets in Denmark. \u00a0
\n\t\t\t\t\tIn 2022, NKT Group paid on net amount of EUR 15.3m in corporate \u00a0
\n\t\t\t\t\tincome tax compared to paying a net amount of EUR 0.4m in 2021. \u00a0
\n\t\t\t\t\tEarnings realised in NKT Group\u2019s Danish companies resulted in payable \u00a0
\n\t\t\t\t\tcorporate tax of EUR 3.3m after utilizing tax losses carried forward (EUR \u00a0
\n\t\t\t\t\t0.3m in 2021). \u00a0
Amounts in EUR \u00a0
\n\t\t\t\t\t2022 \u00a0
\n\t\t\t\t\t2021 \u00a0
\n\t\t\t\t\tTax recognized in the income statement \u00a0
\n\t\t\t\t\tCurrent tax \u00a0
\n\t\t\t\t\t11.1 \u00a0
\n\t\t\t\t\t7.6 \u00a0
\n\t\t\t\t\tCurrent tax, adj. prior years \u00a0
\n\t\t\t\t\t1.5 \u00a0
\n\t\t\t\t\t-0.3 \u00a0
\n\t\t\t\t\tDeferred tax \u00a0
\n\t\t\t\t\t13.6 \u00a0
\n\t\t\t\t\t-4.9 \u00a0
\n\t\t\t\t\tDeferred tax, adj. prior years \u00a0
\n\t\t\t\t\t-3.0 \u00a0
\n\t\t\t\t\t1.4 \u00a0
\n\t\t\t\t\t23.2 \u00a0
\n\t\t\t\t\t3.8 \u00a0
\n\t\t\t\t\tTax rate for the year \u00a0
\n\t\t\t\t\t29.6% \u00a0
\n\t\t\t\t\t24.1% \u00a0
\n\t\t\t\t\tReconciliation of tax: \u00a0
\n\t\t\t\t\tCalculated 22.0% tax on earnings before tax \u00a0
\n\t\t\t\t\t17.2 \u00a0
\n\t\t\t\t\t3.4 \u00a0
\n\t\t\t\t\tTax effect of: \u00a0
\n\t\t\t\t\tForeing tax rates relative to Danish tax rate \u00a0
\n\t\t\t\t\t-5.0 \u00a0
\n\t\t\t\t\t-2.8 \u00a0
\n\t\t\t\t\tNon-taxable income/ \u00a0
\n\t\t\t\t\tnon-deductible expenses, net \u00a0
\n\t\t\t\t\t-4.1 \u00a0
\n\t\t\t\t\t1.6 \u00a0
\n\t\t\t\t\tAdjustment for previous years \u00a0
\n\t\t\t\t\t-1.5 \u00a0
\n\t\t\t\t\t1.1 \u00a0
\n\t\t\t\t\tValue adjustment of tax assets \u00a0
\n\t\t\t\t\t16.6 \u00a0
\n\t\t\t\t\t0.5 \u00a0
\n\t\t\t\t\t23.2 \u00a0
\n\t\t\t\t\t3.8 \u00a0
Significant estimates \u00a0
\n\t\t\t\t\tThe measurement of deferred tax assets and liabilities \u00a0
\n\t\t\t\t\tis based on the corporate tax rate applicable in the \u00a0
\n\t\t\t\t\tyears when the assets and liabilities are expected \u00a0
\n\t\t\t\t\tto be utilized. The measurement of the tax assets \u00a0
\n\t\t\t\t\tis based on budgets and estimates for the coming \u00a0
\n\t\t\t\t\tyears, which by nature are subject to uncertainty. \u00a0
\n\t\t\t\t\tAs a result, there can be a substantial difference \u00a0
\n\t\t\t\t\tbetween the expected use of the tax asset and actual \u00a0
\n\t\t\t\t\tuse of the tax asset related to previous years in the \u00a0
\n\t\t\t\t\tconsolidated income statement. \u00a0
\n\t\t\t\t\tThe majority of the deferred tax assets relate to \u00a0
\n\t\t\t\t\tNKT Group\u2019s German tax unit. The utilization of the \u00a0
\n\t\t\t\t\tGerman tax asset is depending on a successful \u00a0
\n\t\t\t\t\tturn-around of high-voltage business. The tax losses \u00a0
\n\t\t\t\t\tcarried forward from the German tax unit increased \u00a0
\n\t\t\t\t\tfrom EUR 311.8m in 2021 to EUR 387.9m in 2022. \u00a0
\n\t\t\t\t\tThe total deferred tax value amounts to EUR 124.1m. \u00a0
\n\t\t\t\t\tNKT Group has recognized a deferred tax hereof of \u00a0
\n\t\t\t\t\tEUR 30.7m at year-end (EUR 29.9m in 2021). \u00a0
\n\t\t\t\t\tThe tax losses carried forward in the Danish tax unit \u00a0
\n\t\t\t\t\twere fully utilized during 2022. \u00a0
\n\t\t\t\t\tThe tax losses carried forward at end-2022 in the \u00a0
\n\t\t\t\t\tSwedish tax unit sums up to EUR 6.3m, which lead \u00a0
\n\t\t\t\t\tto a deferred tax asset of EUR 1.3m (EUR 11.2m in \u00a0
\n\t\t\t\t\t2021). Further, a deferred tax asset of EUR 11.3 relat- \u00a0
\n\t\t\t\t\ting to interest carried forward has been recognized \u00a0
\n\t\t\t\t\t(EUR 12.0m in 2021). The deferred tax asset has \u00a0
\n\t\t\t\t\tbeen fully offset against a deferred tax liability. \u00a0
\n\t\t\t\t\tTax losses in Germany and Sweden has no expiry \u00a0
\n\t\t\t\t\tdate. \u00a0
NKT Group reported a net deferred tax liability of EUR \u00a0
\n\t\t\t\t\t43.2m (EUR 46.9m in 2021). The development mainly \u00a0
\n\t\t\t\t\trelates to deferred tax liability related to hedge ac- \u00a0
\n\t\t\t\t\tcounting recognized in other comprehensive income \u00a0
\n\t\t\t\t\tand deferred tax liability related to timing differences \u00a0
\n\t\t\t\t\tin revenue recognition in Germany and utilization of \u00a0
\n\t\t\t\t\ttax losses carried forward in Denmark and Sweden. \u00a0
Management judgement regarding deferred \u00a0
\n\t\t\t\t\ttax assets and provision for uncertain tax \u00a0
\n\t\t\t\t\tpositions \u00a0
\n\t\t\t\t\tDeferred tax assets relating to tax losses carried \u00a0
\n\t\t\t\t\tforward are recognized when Management assesses \u00a0
\n\t\t\t\t\tthat these can be utilized in a foreseeable future. \u00a0
\n\t\t\t\t\tThe assessment is performed at the reporting date \u00a0
\n\t\t\t\t\tconsidering local tax legislation and Management\u2019s \u00a0
\n\t\t\t\t\tbusiness plans. Planned changes to capital structure \u00a0
\n\t\t\t\t\tare included in the assessment. \u00a0
\n\t\t\t\t\tAs the NKT Group conducts business around the \u00a0
\n\t\t\t\t\tworld, tax and transfer pricing disputes with local \u00a0
\n\t\t\t\t\ttax authorities may occur. When assessing the \u00a0
\n\t\t\t\t\texpected outcome of these possible disputes, NKT \u00a0
\n\t\t\t\t\tGroup applies IFRIC 23 \u2018Uncertainty over Income \u00a0
\n\t\t\t\t\tTax Treatments\u2019 and methods directed herein when \u00a0
\n\t\t\t\t\tmaking provisions for uncertain tax positions. As \u00a0
\n\t\t\t\t\tthis is an assessment, the actual obligations may \u00a0
\n\t\t\t\t\tdeviate and will depend on the result of litigations \u00a0
\n\t\t\t\t\tand settlements with the tax authorities. Any taxes \u00a0
\n\t\t\t\t\trelating to tax disputes are included in \u2018Income tax \u00a0
\n\t\t\t\t\treceivables\u2019, \u2018Income tax payables\u2019 and \u2018Deferred tax\u2019 \u00a0
\n\t\t\t\t\tbased on an assessment of the most likely outcome \u00a0
\n\t\t\t\t\tof the disputes. \u00a0
Accounting policy \u00a0
\n\t\t\t\t\tCurrent income tax \u00a0
\n\t\t\t\t\tTax for the period, consists of the year\u2019s current tax, \u00a0
\n\t\t\t\t\tchange in deferred tax and adjustments related to \u00a0
\n\t\t\t\t\tprevious years. Tax for the period is recognized in \u00a0
\n\t\t\t\t\tthe income statement including the effect of coupon \u00a0
\n\t\t\t\t\tpayments on the hybrid capital. Tax relating to other \u00a0
\n\t\t\t\t\titems are recognized in other comprehensive income. \u00a0
\n\t\t\t\t\tCurrent tax payable and receivable is recognized in \u00a0
\n\t\t\t\t\tthe balance sheet as tax estimated on taxable in- \u00a0
\n\t\t\t\t\tcome for the year, adjusted for tax on taxable income \u00a0
\n\t\t\t\t\tfor previous years and for tax paid on account. \u00a0
",
"dimensions": {
"concept": "ifrs-full:DisclosureOfIncomeTaxExplanatory",
"language": "en",
"entity": "scheme:529900197LKWCEQ0NL18",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"fact2321": {
"value": "Accounting policy \u00a0
\n\t\t\t\t\tCurrent income tax \u00a0
\n\t\t\t\t\tTax for the period, consists of the year\u2019s current tax, \u00a0
\n\t\t\t\t\tchange in deferred tax and adjustments related to \u00a0
\n\t\t\t\t\tprevious years. Tax for the period is recognized in \u00a0
\n\t\t\t\t\tthe income statement including the effect of coupon \u00a0
\n\t\t\t\t\tpayments on the hybrid capital. Tax relating to other \u00a0
\n\t\t\t\t\titems are recognized in other comprehensive income. \u00a0
\n\t\t\t\t\tCurrent tax payable and receivable is recognized in \u00a0
\n\t\t\t\t\tthe balance sheet as tax estimated on taxable in- \u00a0
\n\t\t\t\t\tcome for the year, adjusted for tax on taxable income \u00a0
\n\t\t\t\t\tfor previous years and for tax paid on account. \u00a0
",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForIncomeTaxExplanatory",
"language": "en",
"entity": "scheme:529900197LKWCEQ0NL18",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"fact2322": {
"value": "Deferred tax \u00a0
\n\t\t\t\t\tDeferred tax is measured according to the balance \u00a0
\n\t\t\t\t\tsheet liability method on all temporary differences \u00a0
\n\t\t\t\t\tbetween the carrying amount and the tax base of \u00a0
\n\t\t\t\t\tassets and liabilities. However, deferred tax is not rec- \u00a0
\n\t\t\t\t\tognized on temporary differences relating to buildings \u00a0
\n\t\t\t\t\tand goodwill that for tax purposes do not qualify for \u00a0
\n\t\t\t\t\tdepreciation and amortization, respectively, nor on \u00a0
\n\t\t\t\t\tother items where temporary differences \u2013 except for \u00a0
\n\t\t\t\t\tacquisitions \u2013 arose at the acquisition date without \u00a0
\n\t\t\t\t\tinfluencing either net earnings or taxable income. \u00a0
\n\t\t\t\t\tWhere alternative taxation rules can be applied to \u00a0
\n\t\t\t\t\tdetermine the tax base, deferred tax is measured \u00a0
\n\t\t\t\t\taccording to Group Management\u2019s planned use of \u00a0
\n\t\t\t\t\tthe assets or settlement of the liabilities, respectively. \u00a0
Deferred tax assets, including the tax base of tax \u00a0
\n\t\t\t\t\tlosses allowed for carry forward, are recognized at \u00a0
\n\t\t\t\t\ttheir expected utilization value within the foreseeable \u00a0
\n\t\t\t\t\tfuture. \u00a0
\n\t\t\t\t\tDeferred tax assets and tax liabilities are offset if the \u00a0
\n\t\t\t\t\tcompany has a legal right to offset current tax assets \u00a0
\n\t\t\t\t\tand liabilities and intends to settle current tax assets \u00a0
\n\t\t\t\t\tand liabilities on a net basis or to realize the assets \u00a0
\n\t\t\t\t\tand liabilities simultaneously. \u00a0
",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForDeferredIncomeTaxExplanatory",
"language": "en",
"entity": "scheme:529900197LKWCEQ0NL18",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"fact2324": {
"value": "Section 3 \u2013 Non-current assets and liabilities \u00a0
NKT Group\u2019s investments in non- \u00a0
\n\t\t\t\t\tcurrent assets form a basis for the \u00a0
\n\t\t\t\t\tGroup\u2019s operation and non-current \u00a0
\n\t\t\t\t\tliabilities arising as a result thereof. \u00a0
\n\t\t\t\t\tThe non-current liabilities in this \u00a0
\n\t\t\t\t\tsection are regarded as non interest- \u00a0
\n\t\t\t\t\tbearing. \u00a0
3.1 Intangible assets \u00a0
\n\t\t\t\t\tTrademarks, \u00a0
\n\t\t\t\t\tDevelopment \u00a0
\n\t\t\t\t\tIntangible \u00a0
\n\t\t\t\t\tTotal \u00a0
\n\t\t\t\t\tpatents and \u00a0
\n\t\t\t\t\tprojects \u00a0
\n\t\t\t\t\tassets under \u00a0
\n\t\t\t\t\tIntangible \u00a0
\n\t\t\t\t\tAmounts in EURm \u00a0
\n\t\t\t\t\tGoodwill \u00a0
\n\t\t\t\t\tlicences etc. \u00a0
\n\t\t\t\t\tIT software \u00a0
\n\t\t\t\t\tcompleted \u00a0
\n\t\t\t\t\tdevelopment \u00a0
\n\t\t\t\t\tassets \u00a0
\n\t\t\t\t\tCost, 1 January 2021 \u00a0
\n\t\t\t\t\t412.1 \u00a0
\n\t\t\t\t\t101.6 \u00a0
\n\t\t\t\t\t62.0 \u00a0
\n\t\t\t\t\t80.3 \u00a0
\n\t\t\t\t\t79.2 \u00a0
\n\t\t\t\t\t735.2 \u00a0
\n\t\t\t\t\tAdditions \u00a0
\n\t\t\t\t\t0.0 \u00a0
\n\t\t\t\t\t0.0 \u00a0
\n\t\t\t\t\t0.1 \u00a0
\n\t\t\t\t\t0.1 \u00a0
\n\t\t\t\t\t36.6 \u00a0
\n\t\t\t\t\t36.8 \u00a0
\n\t\t\t\t\tDisposals \u00a0
\n\t\t\t\t\t-1.3 \u00a0
\n\t\t\t\t\t0.0 \u00a0
\n\t\t\t\t\t-1.4 \u00a0
\n\t\t\t\t\t-1.6 \u00a0
\n\t\t\t\t\t0.0 \u00a0
\n\t\t\t\t\t-4.3 \u00a0
\n\t\t\t\t\tTransferred between classes of assets \u00a0
\n\t\t\t\t\t0.0 \u00a0
\n\t\t\t\t\t0.0 \u00a0
\n\t\t\t\t\t21.5 \u00a0
\n\t\t\t\t\t5.2 \u00a0
\n\t\t\t\t\t-26.7 \u00a0
\n\t\t\t\t\t0.0 \u00a0
\n\t\t\t\t\tExchange rate adjustments \u00a0
\n\t\t\t\t\t-6.4 \u00a0
\n\t\t\t\t\t-1.2 \u00a0
\n\t\t\t\t\t0.0 \u00a0
\n\t\t\t\t\t-0.5 \u00a0
\n\t\t\t\t\t-0.1 \u00a0
\n\t\t\t\t\t-8.2 \u00a0
\n\t\t\t\t\tCosts, 31 December 2021 \u00a0
\n\t\t\t\t\t404.4 \u00a0
\n\t\t\t\t\t100.4 \u00a0
\n\t\t\t\t\t82.2 \u00a0
\n\t\t\t\t\t83.5 \u00a0
\n\t\t\t\t\t89.0 \u00a0
\n\t\t\t\t\t759.5 \u00a0
\n\t\t\t\t\tAmortization and impairment, 1 January 2021 \u00a0
\n\t\t\t\t\t-1.3 \u00a0
\n\t\t\t\t\t-38.1 \u00a0
\n\t\t\t\t\t-32.2 \u00a0
\n\t\t\t\t\t-36.7 \u00a0
\n\t\t\t\t\t0.0 \u00a0
\n\t\t\t\t\t-108.3 \u00a0
\n\t\t\t\t\tAmortization for the year \u00a0
\n\t\t\t\t\t0.0 \u00a0
\n\t\t\t\t\t-8.2 \u00a0
\n\t\t\t\t\t-9.1 \u00a0
\n\t\t\t\t\t-16.9 \u00a0
\n\t\t\t\t\t0.0 \u00a0
\n\t\t\t\t\t-34.2 \u00a0
\n\t\t\t\t\tDisposals \u00a0
\n\t\t\t\t\t1.3 \u00a0
\n\t\t\t\t\t0.0 \u00a0
\n\t\t\t\t\t1.4 \u00a0
\n\t\t\t\t\t1.6 \u00a0
\n\t\t\t\t\t0.0 \u00a0
\n\t\t\t\t\t4.3 \u00a0
\n\t\t\t\t\tExchange rate adjustments \u00a0
\n\t\t\t\t\t0.0 \u00a0
\n\t\t\t\t\t0.3 \u00a0
\n\t\t\t\t\t-0.1 \u00a0
\n\t\t\t\t\t0.2 \u00a0
\n\t\t\t\t\t0.0 \u00a0
\n\t\t\t\t\t0.4 \u00a0
\n\t\t\t\t\tAmortization and impairment, 31 December 2021 \u00a0
\n\t\t\t\t\t0.0 \u00a0
\n\t\t\t\t\t-46.0 \u00a0
\n\t\t\t\t\t-40.0 \u00a0
\n\t\t\t\t\t-51.8 \u00a0
\n\t\t\t\t\t0.0 \u00a0
\n\t\t\t\t\t-137.8 \u00a0
\n\t\t\t\t\tCarrying amount, 31 December 2021 \u00a0
\n\t\t\t\t\t404.4 \u00a0
\n\t\t\t\t\t54.4 \u00a0
\n\t\t\t\t\t42.2 \u00a0
\n\t\t\t\t\t31.7 \u00a0
\n\t\t\t\t\t89.0 \u00a0
\n\t\t\t\t\t621.7 \u00a0
\n\t\t\t\t\tCost, 1 January 2022 \u00a0
\n\t\t\t\t\t404.4 \u00a0
\n\t\t\t\t\t100.4 \u00a0
\n\t\t\t\t\t82.2 \u00a0
\n\t\t\t\t\t83.5 \u00a0
\n\t\t\t\t\t89.0 \u00a0
\n\t\t\t\t\t759.5 \u00a0
\n\t\t\t\t\tDisposal of subsidiary \u00a0
\n\t\t\t\t\t0.0 \u00a0
\n\t\t\t\t\t-1.7 \u00a0
\n\t\t\t\t\t0.0 \u00a0
\n\t\t\t\t\t-7.7 \u00a0
\n\t\t\t\t\t-2.3 \u00a0
\n\t\t\t\t\t-11.7 \u00a0
\n\t\t\t\t\tAdditions \u00a0
\n\t\t\t\t\t0.0 \u00a0
\n\t\t\t\t\t0.0 \u00a0
\n\t\t\t\t\t1.1 \u00a0
\n\t\t\t\t\t0.2 \u00a0
\n\t\t\t\t\t39.3 \u00a0
\n\t\t\t\t\t40.6 \u00a0
\n\t\t\t\t\tDisposals \u00a0
\n\t\t\t\t\t0.0 \u00a0
\n\t\t\t\t\t0.0 \u00a0
\n\t\t\t\t\t0.0 \u00a0
\n\t\t\t\t\t-0.4 \u00a0
\n\t\t\t\t\t-0.1 \u00a0
\n\t\t\t\t\t-0.5 \u00a0
\n\t\t\t\t\tTransferred between classes of assets \u00a0
\n\t\t\t\t\t0.0 \u00a0
\n\t\t\t\t\t0.0 \u00a0
\n\t\t\t\t\t1.5 \u00a0
\n\t\t\t\t\t8.8 \u00a0
\n\t\t\t\t\t-10.3 \u00a0
\n\t\t\t\t\t0.0 \u00a0
\n\t\t\t\t\tTransferred to assets held for sale \u00a0
\n\t\t\t\t\t-25.3 \u00a0
\n\t\t\t\t\t-26.9 \u00a0
\n\t\t\t\t\t-7.8 \u00a0
\n\t\t\t\t\t-17.9 \u00a0
\n\t\t\t\t\t-24.4 \u00a0
\n\t\t\t\t\t-102.3 \u00a0
\n\t\t\t\t\tExchange rate adjustments \u00a0
\n\t\t\t\t\t-28.7 \u00a0
\n\t\t\t\t\t-5.6 \u00a0
\n\t\t\t\t\t-0.4 \u00a0
\n\t\t\t\t\t-3.2 \u00a0
\n\t\t\t\t\t-3.5 \u00a0
\n\t\t\t\t\t-41.4 \u00a0
\n\t\t\t\t\tCosts, 31 December 2022 \u00a0
\n\t\t\t\t\t350.4 \u00a0
\n\t\t\t\t\t66.2 \u00a0
\n\t\t\t\t\t76.6 \u00a0
\n\t\t\t\t\t63.3 \u00a0
\n\t\t\t\t\t87.7 \u00a0
\n\t\t\t\t\t644.2 \u00a0
\n\t\t\t\t\tAmortization and impairment, 1 January 2022 \u00a0
\n\t\t\t\t\t0.0 \u00a0
\n\t\t\t\t\t-46.0 \u00a0
\n\t\t\t\t\t-40.0 \u00a0
\n\t\t\t\t\t-51.8 \u00a0
\n\t\t\t\t\t0.0 \u00a0
\n\t\t\t\t\t-137.8 \u00a0
\n\t\t\t\t\tDisposal of subsidiary \u00a0
\n\t\t\t\t\t0.0 \u00a0
\n\t\t\t\t\t1.2 \u00a0
\n\t\t\t\t\t0.0 \u00a0
\n\t\t\t\t\t5.8 \u00a0
\n\t\t\t\t\t0.0 \u00a0
\n\t\t\t\t\t7.0 \u00a0
\n\t\t\t\t\tAmortization for the year \u00a0
\n\t\t\t\t\t0.0 \u00a0
\n\t\t\t\t\t-6.3 \u00a0
\n\t\t\t\t\t-8.5 \u00a0
\n\t\t\t\t\t-11.6 \u00a0
\n\t\t\t\t\t0.0 \u00a0
\n\t\t\t\t\t-26.4 \u00a0
\n\t\t\t\t\tDisposals \u00a0
\n\t\t\t\t\t0.0 \u00a0
\n\t\t\t\t\t0.0 \u00a0
\n\t\t\t\t\t0.0 \u00a0
\n\t\t\t\t\t0.4 \u00a0
\n\t\t\t\t\t0.0 \u00a0
\n\t\t\t\t\t0.4 \u00a0
\n\t\t\t\t\tTransferred to assets held for sale \u00a0
\n\t\t\t\t\t0.0 \u00a0
\n\t\t\t\t\t22.3 \u00a0
\n\t\t\t\t\t2.7 \u00a0
\n\t\t\t\t\t12.3 \u00a0
\n\t\t\t\t\t0.0 \u00a0
\n\t\t\t\t\t37.3 \u00a0
\n\t\t\t\t\tExchange rate adjustments \u00a0
\n\t\t\t\t\t0.0 \u00a0
\n\t\t\t\t\t2.0 \u00a0
\n\t\t\t\t\t0.4 \u00a0
\n\t\t\t\t\t1.3 \u00a0
\n\t\t\t\t\t0.0 \u00a0
\n\t\t\t\t\t3.7 \u00a0
\n\t\t\t\t\tAmortization and impairment, 31 December 2022 \u00a0
\n\t\t\t\t\t0.0 \u00a0
\n\t\t\t\t\t-26.8 \u00a0
\n\t\t\t\t\t-45.4 \u00a0
\n\t\t\t\t\t-43.6 \u00a0
\n\t\t\t\t\t0.0 \u00a0
\n\t\t\t\t\t-115.8 \u00a0
\n\t\t\t\t\tCarrying amount, 31 December 2022 \u00a0
\n\t\t\t\t\t350.4 \u00a0
\n\t\t\t\t\t39.4 \u00a0
\n\t\t\t\t\t31.2 \u00a0
\n\t\t\t\t\t19.7 \u00a0
\n\t\t\t\t\t87.7 \u00a0
\n\t\t\t\t\t528.4 \u00a0
",
"dimensions": {
"concept": "ifrs-full:DisclosureOfIntangibleAssetsAndGoodwillExplanatory",
"language": "en",
"entity": "scheme:529900197LKWCEQ0NL18",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"fact2327": {
"value": "Section 3 \u2013 Non-current assets and liabilities \u00a0
NKT Group\u2019s investments in non- \u00a0
\n\t\t\t\t\tcurrent assets form a basis for the \u00a0
\n\t\t\t\t\tGroup\u2019s operation and non-current \u00a0
\n\t\t\t\t\tliabilities arising as a result thereof. \u00a0
\n\t\t\t\t\tThe non-current liabilities in this \u00a0
\n\t\t\t\t\tsection are regarded as non interest- \u00a0
\n\t\t\t\t\tbearing. \u00a0
",
"dimensions": {
"concept": "ifrs-full:DisclosureOfOtherNoncurrentLiabilitiesExplanatory",
"language": "en",
"entity": "scheme:529900197LKWCEQ0NL18",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"fact2331": {
"value": "3.2 Property, plant and equipment \u00a0
\n\t\t\t\t\tRight-of-use assets are recognized as follows: \u00a0
\n\t\t\t\t\tManu- \u00a0
\n\t\t\t\t\tFixtures, \u00a0
\n\t\t\t\t\tfacturing \u00a0
\n\t\t\t\t\tfittings, \u00a0
\n\t\t\t\t\tLand and \u00a0
\n\t\t\t\t\tplant and \u00a0
\n\t\t\t\t\ttools and \u00a0
\n\t\t\t\t\tAmounts in EURm \u00a0
\n\t\t\t\t\tbuildings \u00a0
\n\t\t\t\t\tmachinery \u00a0
\n\t\t\t\t\tequipment \u00a0
\n\t\t\t\t\tTotal \u00a0
\n\t\t\t\t\tCarrying amount, 1 January 2021 \u00a0
\n\t\t\t\t\t36.4 \u00a0
\n\t\t\t\t\t8.2 \u00a0
\n\t\t\t\t\t0.7 \u00a0
\n\t\t\t\t\t45.3 \u00a0
\n\t\t\t\t\tAddition for the year \u00a0
\n\t\t\t\t\t11.0 \u00a0
\n\t\t\t\t\t0.0 \u00a0
\n\t\t\t\t\t0.7 \u00a0
\n\t\t\t\t\t11.7 \u00a0
\n\t\t\t\t\tDepreciation of right-of-use assets \u00a0
\n\t\t\t\t\t-6.6 \u00a0
\n\t\t\t\t\t-1.0 \u00a0
\n\t\t\t\t\t-0.4 \u00a0
\n\t\t\t\t\t-8.0 \u00a0
\n\t\t\t\t\tExchange rate adjustments \u00a0
\n\t\t\t\t\t-0.2 \u00a0
\n\t\t\t\t\t-0.1 \u00a0
\n\t\t\t\t\t-0.1 \u00a0
\n\t\t\t\t\t-0.4 \u00a0
\n\t\t\t\t\tThe carrying amount of right-of-use assets, \u00a0
\n\t\t\t\t\t31 December 2021 \u00a0
\n\t\t\t\t\t40.6 \u00a0
\n\t\t\t\t\t7.1 \u00a0
\n\t\t\t\t\t0.9 \u00a0
\n\t\t\t\t\t48.6 \u00a0
\n\t\t\t\t\tCarrying amount, 1 January 2022 \u00a0
\n\t\t\t\t\t40.6 \u00a0
\n\t\t\t\t\t7.1 \u00a0
\n\t\t\t\t\t0.9 \u00a0
\n\t\t\t\t\t48.6 \u00a0
\n\t\t\t\t\tAddition for the year \u00a0
\n\t\t\t\t\t1.8 \u00a0
\n\t\t\t\t\t0.0 \u00a0
\n\t\t\t\t\t0.0 \u00a0
\n\t\t\t\t\t1.8 \u00a0
\n\t\t\t\t\tDisposals for the year \u00a0
\n\t\t\t\t\t0.5 \u00a0
\n\t\t\t\t\t0.0 \u00a0
\n\t\t\t\t\t0.0 \u00a0
\n\t\t\t\t\t0.5 \u00a0
\n\t\t\t\t\tDisposal of subsidiaries \u00a0
\n\t\t\t\t\t-0.5 \u00a0
\n\t\t\t\t\t0.0 \u00a0
\n\t\t\t\t\t0.0 \u00a0
\n\t\t\t\t\t-0.5 \u00a0
\n\t\t\t\t\tDepreciation of right-of-use assets \u00a0
\n\t\t\t\t\t-5.4 \u00a0
\n\t\t\t\t\t-1.0 \u00a0
\n\t\t\t\t\t-0.4 \u00a0
\n\t\t\t\t\t-6.8 \u00a0
\n\t\t\t\t\tTransferred to assets held for sale \u00a0
\n\t\t\t\t\t-6.5 \u00a0
\n\t\t\t\t\t0.0 \u00a0
\n\t\t\t\t\t0.0 \u00a0
\n\t\t\t\t\t-6.5 \u00a0
\n\t\t\t\t\tExchange rate adjustments \u00a0
\n\t\t\t\t\t-1.0 \u00a0
\n\t\t\t\t\t0.0 \u00a0
\n\t\t\t\t\t0.0 \u00a0
\n\t\t\t\t\t-1.0 \u00a0
\n\t\t\t\t\tThe carrying amount of right-of-use assets, \u00a0
\n\t\t\t\t\t31 December 2022 \u00a0
\n\t\t\t\t\t29.5 \u00a0
\n\t\t\t\t\t6.1 \u00a0
\n\t\t\t\t\t0.5 \u00a0
\n\t\t\t\t\t36.1 \u00a0
\n\t\t\t\t\tAmounts recognized in the income statement: \u00a0
\n\t\t\t\t\tAmounts in EURm \u00a0
\n\t\t\t\t\t2022 \u00a0
\n\t\t\t\t\t2021 \u00a0
\n\t\t\t\t\tCosts relating to other immaterial leases including short term \u00a0
\n\t\t\t\t\tand low value leases, recognized in the income statement \u00a0
\n\t\t\t\t\t7.8 \u00a0
\n\t\t\t\t\t7.1 \u00a0
\n\t\t\t\t\tLease liabilities and interests relating to recognized lease contracts are included in Section 5.4 and 5.5 respec- \u00a0
\n\t\t\t\t\ttively. Future minimum lease payments relating to leases not recognized in the balance sheet amount to EUR \u00a0
\n\t\t\t\t\t11.6m (EUR 13.4m in 2021). \u00a0
Property, \u00a0
\n\t\t\t\t\tManu- \u00a0
\n\t\t\t\t\tFixtures, \u00a0
\n\t\t\t\t\tplant and \u00a0
\n\t\t\t\t\tTotal \u00a0
\n\t\t\t\t\tfacturing \u00a0
\n\t\t\t\t\tfittings, \u00a0
\n\t\t\t\t\tequipment \u00a0
\n\t\t\t\t\tproperty, \u00a0
\n\t\t\t\t\tLand and \u00a0
\n\t\t\t\t\tplant and \u00a0
\n\t\t\t\t\ttools and
under con- \u00a0
\n\t\t\t\t\tplant and \u00a0
\n\t\t\t\t\tAmounts in EURm \u00a0
\n\t\t\t\t\tbuildings \u00a0
\n\t\t\t\t\tmachinery \u00a0
\n\t\t\t\t\tequipment \u00a0
\n\t\t\t\t\tstruction \u00a0
\n\t\t\t\t\tequipment \u00a0
\n\t\t\t\t\tCost, 1 January 2021 \u00a0
\n\t\t\t\t\t396.5 \u00a0
\n\t\t\t\t\t636.2 \u00a0
\n\t\t\t\t\t120.9 \u00a0
\n\t\t\t\t\t56.4 \u00a0
\n\t\t\t\t\t1,210.0 \u00a0
\n\t\t\t\t\tAdditions \u00a0
\n\t\t\t\t\t13.4 \u00a0
\n\t\t\t\t\t5.4 \u00a0
\n\t\t\t\t\t10.4 \u00a0
\n\t\t\t\t\t173.8 \u00a0
\n\t\t\t\t\t203.0 \u00a0
\n\t\t\t\t\tDisposals \u00a0
\n\t\t\t\t\t-2.0 \u00a0
\n\t\t\t\t\t-2.3 \u00a0
\n\t\t\t\t\t-1.8 \u00a0
\n\t\t\t\t\t0.0 \u00a0
\n\t\t\t\t\t-6.1 \u00a0
\n\t\t\t\t\tTransferred between classes of assets \u00a0
\n\t\t\t\t\t0.2 \u00a0
\n\t\t\t\t\t34.2 \u00a0
\n\t\t\t\t\t2.8 \u00a0
\n\t\t\t\t\t-37.2 \u00a0
\n\t\t\t\t\t0.0 \u00a0
\n\t\t\t\t\tExchange rate adjustments \u00a0
\n\t\t\t\t\t2.5 \u00a0
\n\t\t\t\t\t1.5 \u00a0
\n\t\t\t\t\t-0.8 \u00a0
\n\t\t\t\t\t-0.8 \u00a0
\n\t\t\t\t\t2.4 \u00a0
\n\t\t\t\t\tCost, 31 December 2021 \u00a0
\n\t\t\t\t\t410.6 \u00a0
\n\t\t\t\t\t675.0 \u00a0
\n\t\t\t\t\t131.5 \u00a0
\n\t\t\t\t\t192.2 \u00a0
\n\t\t\t\t\t1,409.3 \u00a0
\n\t\t\t\t\tDepreciation and impairment, 1 January 2021 \u00a0
\n\t\t\t\t\t-104.7 \u00a0
\n\t\t\t\t\t-374.3 \u00a0
\n\t\t\t\t\t-72.6 \u00a0
\n\t\t\t\t\t-0.8 \u00a0
\n\t\t\t\t\t-552.4 \u00a0
\n\t\t\t\t\tDepreciation for the year \u00a0
\n\t\t\t\t\t-16.7 \u00a0
\n\t\t\t\t\t-42.8 \u00a0
\n\t\t\t\t\t-15.4 \u00a0
\n\t\t\t\t\t0.0 \u00a0
\n\t\t\t\t\t-74.9 \u00a0
\n\t\t\t\t\tDisposals \u00a0
\n\t\t\t\t\t1.7 \u00a0
\n\t\t\t\t\t2.1 \u00a0
\n\t\t\t\t\t1.8 \u00a0
\n\t\t\t\t\t0.0 \u00a0
\n\t\t\t\t\t5.6 \u00a0
\n\t\t\t\t\tExchange rate adjustments \u00a0
\n\t\t\t\t\t-2.5 \u00a0
\n\t\t\t\t\t-2.5 \u00a0
\n\t\t\t\t\t0.3 \u00a0
\n\t\t\t\t\t0.0 \u00a0
\n\t\t\t\t\t-4.7 \u00a0
\n\t\t\t\t\tDepreciation and impairment, 31 December 2021 \u00a0
\n\t\t\t\t\t-122.2 \u00a0
\n\t\t\t\t\t-417.5 \u00a0
\n\t\t\t\t\t-85.9 \u00a0
\n\t\t\t\t\t-0.8 \u00a0
\n\t\t\t\t\t-626.4 \u00a0
\n\t\t\t\t\tCarrying amount, 31 December 2021 \u00a0
\n\t\t\t\t\t288.4 \u00a0
\n\t\t\t\t\t257.5 \u00a0
\n\t\t\t\t\t45.6 \u00a0
\n\t\t\t\t\t191.4 \u00a0
\n\t\t\t\t\t782.9 \u00a0
\n\t\t\t\t\tCost, 1 January 2022 \u00a0
\n\t\t\t\t\t410.6 \u00a0
\n\t\t\t\t\t675.0 \u00a0
\n\t\t\t\t\t131.5 \u00a0
\n\t\t\t\t\t192.2 \u00a0
\n\t\t\t\t\t1,409.3 \u00a0
\n\t\t\t\t\tAdditions \u00a0
\n\t\t\t\t\t4.2 \u00a0
\n\t\t\t\t\t20.6 \u00a0
\n\t\t\t\t\t2.6 \u00a0
\n\t\t\t\t\t134.5 \u00a0
\n\t\t\t\t\t161.9 \u00a0
\n\t\t\t\t\tAdditions from business combinations \u00a0
\n\t\t\t\t\t6.4 \u00a0
\n\t\t\t\t\t12.7 \u00a0
\n\t\t\t\t\t0.2 \u00a0
\n\t\t\t\t\t1.6 \u00a0
\n\t\t\t\t\t20.9 \u00a0
\n\t\t\t\t\tDisposals \u00a0
\n\t\t\t\t\t-0.4 \u00a0
\n\t\t\t\t\t-7.3 \u00a0
\n\t\t\t\t\t-2.2 \u00a0
\n\t\t\t\t\t-1.3 \u00a0
\n\t\t\t\t\t-11.2 \u00a0
\n\t\t\t\t\tDisposal of subsidiaries \u00a0
\n\t\t\t\t\t-1.6 \u00a0
\n\t\t\t\t\t-0.3 \u00a0
\n\t\t\t\t\t-3.9 \u00a0
\n\t\t\t\t\t0.0 \u00a0
\n\t\t\t\t\t-5.8 \u00a0
\n\t\t\t\t\tTransferred between classes of assets \u00a0
\n\t\t\t\t\t33.4 \u00a0
\n\t\t\t\t\t53.2 \u00a0
\n\t\t\t\t\t16.2 \u00a0
\n\t\t\t\t\t-102.8 \u00a0
\n\t\t\t\t\t0.0 \u00a0
\n\t\t\t\t\tTransferred to assets held for sale \u00a0
\n\t\t\t\t\t-20.9 \u00a0
\n\t\t\t\t\t-16.5 \u00a0
\n\t\t\t\t\t-9.5 \u00a0
\n\t\t\t\t\t-3.4 \u00a0
\n\t\t\t\t\t-50.3 \u00a0
\n\t\t\t\t\tExchange rate adjustments \u00a0
\n\t\t\t\t\t-13.9 \u00a0
\n\t\t\t\t\t-10.2 \u00a0
\n\t\t\t\t\t-5.8 \u00a0
\n\t\t\t\t\t-11.3 \u00a0
\n\t\t\t\t\t-41.2 \u00a0
\n\t\t\t\t\tCost, 31 December 2022 \u00a0
\n\t\t\t\t\t417.8 \u00a0
\n\t\t\t\t\t727.2 \u00a0
\n\t\t\t\t\t129.1 \u00a0
\n\t\t\t\t\t209.5 \u00a0
\n\t\t\t\t\t1,483.6 \u00a0
\n\t\t\t\t\tDepreciation and impairment, 1 January 2022 \u00a0
\n\t\t\t\t\t-122.2 \u00a0
\n\t\t\t\t\t-417.5 \u00a0
\n\t\t\t\t\t-85.9 \u00a0
\n\t\t\t\t\t-0.8 \u00a0
\n\t\t\t\t\t-626.4 \u00a0
\n\t\t\t\t\tDepreciation for the year \u00a0
\n\t\t\t\t\t-15.5 \u00a0
\n\t\t\t\t\t-37.7 \u00a0
\n\t\t\t\t\t-12.4 \u00a0
\n\t\t\t\t\t0.0 \u00a0
\n\t\t\t\t\t-65.6 \u00a0
\n\t\t\t\t\tDisposals \u00a0
\n\t\t\t\t\t0.2 \u00a0
\n\t\t\t\t\t7.1 \u00a0
\n\t\t\t\t\t2.4 \u00a0
\n\t\t\t\t\t0.8 \u00a0
\n\t\t\t\t\t10.5 \u00a0
\n\t\t\t\t\tDisposal of subsidiaries \u00a0
\n\t\t\t\t\t1.1 \u00a0
\n\t\t\t\t\t0.0 \u00a0
\n\t\t\t\t\t3.4 \u00a0
\n\t\t\t\t\t0.0 \u00a0
\n\t\t\t\t\t4.5 \u00a0
\n\t\t\t\t\tTransferred to assets held for sale \u00a0
\n\t\t\t\t\t8.7 \u00a0
\n\t\t\t\t\t13.7 \u00a0
\n\t\t\t\t\t5.8 \u00a0
\n\t\t\t\t\t0.0 \u00a0
\n\t\t\t\t\t28.2 \u00a0
\n\t\t\t\t\tExchange rate adjustments \u00a0
\n\t\t\t\t\t2.3 \u00a0
\n\t\t\t\t\t5.1 \u00a0
\n\t\t\t\t\t2.6 \u00a0
\n\t\t\t\t\t0.0 \u00a0
\n\t\t\t\t\t10.1 \u00a0
\n\t\t\t\t\tDepreciation and impairment, 31 December 2022 \u00a0
\n\t\t\t\t\t-125.4 \u00a0
\n\t\t\t\t\t-429.3 \u00a0
\n\t\t\t\t\t-84.1 \u00a0
\n\t\t\t\t\t0.0 \u00a0
\n\t\t\t\t\t-638.8 \u00a0
\n\t\t\t\t\tCarrying amount, 31 December 2022 \u00a0
\n\t\t\t\t\t292.4 \u00a0
\n\t\t\t\t\t297.9 \u00a0
\n\t\t\t\t\t45.0 \u00a0
\n\t\t\t\t\t209.5 \u00a0
\n\t\t\t\t\t844.8 \u00a0
",
"dimensions": {
"concept": "ifrs-full:DisclosureOfDepreciationAndAmortisationExpenseExplanatory",
"language": "en",
"entity": "scheme:529900197LKWCEQ0NL18",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"fact2333": {
"value": "3.2 Property, plant and equipment \u00a0
\n\t\t\t\t\tRight-of-use assets are recognized as follows: \u00a0
\n\t\t\t\t\tManu- \u00a0
\n\t\t\t\t\tFixtures, \u00a0
\n\t\t\t\t\tfacturing \u00a0
\n\t\t\t\t\tfittings, \u00a0
\n\t\t\t\t\tLand and \u00a0
\n\t\t\t\t\tplant and \u00a0
\n\t\t\t\t\ttools and \u00a0
\n\t\t\t\t\tAmounts in EURm \u00a0
\n\t\t\t\t\tbuildings \u00a0
\n\t\t\t\t\tmachinery \u00a0
\n\t\t\t\t\tequipment \u00a0
\n\t\t\t\t\tTotal \u00a0
\n\t\t\t\t\tCarrying amount, 1 January 2021 \u00a0
\n\t\t\t\t\t36.4 \u00a0
\n\t\t\t\t\t8.2 \u00a0
\n\t\t\t\t\t0.7 \u00a0
\n\t\t\t\t\t45.3 \u00a0
\n\t\t\t\t\tAddition for the year \u00a0
\n\t\t\t\t\t11.0 \u00a0
\n\t\t\t\t\t0.0 \u00a0
\n\t\t\t\t\t0.7 \u00a0
\n\t\t\t\t\t11.7 \u00a0
\n\t\t\t\t\tDepreciation of right-of-use assets \u00a0
\n\t\t\t\t\t-6.6 \u00a0
\n\t\t\t\t\t-1.0 \u00a0
\n\t\t\t\t\t-0.4 \u00a0
\n\t\t\t\t\t-8.0 \u00a0
\n\t\t\t\t\tExchange rate adjustments \u00a0
\n\t\t\t\t\t-0.2 \u00a0
\n\t\t\t\t\t-0.1 \u00a0
\n\t\t\t\t\t-0.1 \u00a0
\n\t\t\t\t\t-0.4 \u00a0
\n\t\t\t\t\tThe carrying amount of right-of-use assets, \u00a0
\n\t\t\t\t\t31 December 2021 \u00a0
\n\t\t\t\t\t40.6 \u00a0
\n\t\t\t\t\t7.1 \u00a0
\n\t\t\t\t\t0.9 \u00a0
\n\t\t\t\t\t48.6 \u00a0
\n\t\t\t\t\tCarrying amount, 1 January 2022 \u00a0
\n\t\t\t\t\t40.6 \u00a0
\n\t\t\t\t\t7.1 \u00a0
\n\t\t\t\t\t0.9 \u00a0
\n\t\t\t\t\t48.6 \u00a0
\n\t\t\t\t\tAddition for the year \u00a0
\n\t\t\t\t\t1.8 \u00a0
\n\t\t\t\t\t0.0 \u00a0
\n\t\t\t\t\t0.0 \u00a0
\n\t\t\t\t\t1.8 \u00a0
\n\t\t\t\t\tDisposals for the year \u00a0
\n\t\t\t\t\t0.5 \u00a0
\n\t\t\t\t\t0.0 \u00a0
\n\t\t\t\t\t0.0 \u00a0
\n\t\t\t\t\t0.5 \u00a0
\n\t\t\t\t\tDisposal of subsidiaries \u00a0
\n\t\t\t\t\t-0.5 \u00a0
\n\t\t\t\t\t0.0 \u00a0
\n\t\t\t\t\t0.0 \u00a0
\n\t\t\t\t\t-0.5 \u00a0
\n\t\t\t\t\tDepreciation of right-of-use assets \u00a0
\n\t\t\t\t\t-5.4 \u00a0
\n\t\t\t\t\t-1.0 \u00a0
\n\t\t\t\t\t-0.4 \u00a0
\n\t\t\t\t\t-6.8 \u00a0
\n\t\t\t\t\tTransferred to assets held for sale \u00a0
\n\t\t\t\t\t-6.5 \u00a0
\n\t\t\t\t\t0.0 \u00a0
\n\t\t\t\t\t0.0 \u00a0
\n\t\t\t\t\t-6.5 \u00a0
\n\t\t\t\t\tExchange rate adjustments \u00a0
\n\t\t\t\t\t-1.0 \u00a0
\n\t\t\t\t\t0.0 \u00a0
\n\t\t\t\t\t0.0 \u00a0
\n\t\t\t\t\t-1.0 \u00a0
\n\t\t\t\t\tThe carrying amount of right-of-use assets, \u00a0
\n\t\t\t\t\t31 December 2022 \u00a0
\n\t\t\t\t\t29.5 \u00a0
\n\t\t\t\t\t6.1 \u00a0
\n\t\t\t\t\t0.5 \u00a0
\n\t\t\t\t\t36.1 \u00a0
\n\t\t\t\t\tAmounts recognized in the income statement: \u00a0
\n\t\t\t\t\tAmounts in EURm \u00a0
\n\t\t\t\t\t2022 \u00a0
\n\t\t\t\t\t2021 \u00a0
\n\t\t\t\t\tCosts relating to other immaterial leases including short term \u00a0
\n\t\t\t\t\tand low value leases, recognized in the income statement \u00a0
\n\t\t\t\t\t7.8 \u00a0
\n\t\t\t\t\t7.1 \u00a0
\n\t\t\t\t\tLease liabilities and interests relating to recognized lease contracts are included in Section 5.4 and 5.5 respec- \u00a0
\n\t\t\t\t\ttively. Future minimum lease payments relating to leases not recognized in the balance sheet amount to EUR \u00a0
\n\t\t\t\t\t11.6m (EUR 13.4m in 2021). \u00a0
Property, \u00a0
\n\t\t\t\t\tManu- \u00a0
\n\t\t\t\t\tFixtures, \u00a0
\n\t\t\t\t\tplant and \u00a0
\n\t\t\t\t\tTotal \u00a0
\n\t\t\t\t\tfacturing \u00a0
\n\t\t\t\t\tfittings, \u00a0
\n\t\t\t\t\tequipment \u00a0
\n\t\t\t\t\tproperty, \u00a0
\n\t\t\t\t\tLand and \u00a0
\n\t\t\t\t\tplant and \u00a0
\n\t\t\t\t\ttools and
under con- \u00a0
\n\t\t\t\t\tplant and \u00a0
\n\t\t\t\t\tAmounts in EURm \u00a0
\n\t\t\t\t\tbuildings \u00a0
\n\t\t\t\t\tmachinery \u00a0
\n\t\t\t\t\tequipment \u00a0
\n\t\t\t\t\tstruction \u00a0
\n\t\t\t\t\tequipment \u00a0
\n\t\t\t\t\tCost, 1 January 2021 \u00a0
\n\t\t\t\t\t396.5 \u00a0
\n\t\t\t\t\t636.2 \u00a0
\n\t\t\t\t\t120.9 \u00a0
\n\t\t\t\t\t56.4 \u00a0
\n\t\t\t\t\t1,210.0 \u00a0
\n\t\t\t\t\tAdditions \u00a0
\n\t\t\t\t\t13.4 \u00a0
\n\t\t\t\t\t5.4 \u00a0
\n\t\t\t\t\t10.4 \u00a0
\n\t\t\t\t\t173.8 \u00a0
\n\t\t\t\t\t203.0 \u00a0
\n\t\t\t\t\tDisposals \u00a0
\n\t\t\t\t\t-2.0 \u00a0
\n\t\t\t\t\t-2.3 \u00a0
\n\t\t\t\t\t-1.8 \u00a0
\n\t\t\t\t\t0.0 \u00a0
\n\t\t\t\t\t-6.1 \u00a0
\n\t\t\t\t\tTransferred between classes of assets \u00a0
\n\t\t\t\t\t0.2 \u00a0
\n\t\t\t\t\t34.2 \u00a0
\n\t\t\t\t\t2.8 \u00a0
\n\t\t\t\t\t-37.2 \u00a0
\n\t\t\t\t\t0.0 \u00a0
\n\t\t\t\t\tExchange rate adjustments \u00a0
\n\t\t\t\t\t2.5 \u00a0
\n\t\t\t\t\t1.5 \u00a0
\n\t\t\t\t\t-0.8 \u00a0
\n\t\t\t\t\t-0.8 \u00a0
\n\t\t\t\t\t2.4 \u00a0
\n\t\t\t\t\tCost, 31 December 2021 \u00a0
\n\t\t\t\t\t410.6 \u00a0
\n\t\t\t\t\t675.0 \u00a0
\n\t\t\t\t\t131.5 \u00a0
\n\t\t\t\t\t192.2 \u00a0
\n\t\t\t\t\t1,409.3 \u00a0
\n\t\t\t\t\tDepreciation and impairment, 1 January 2021 \u00a0
\n\t\t\t\t\t-104.7 \u00a0
\n\t\t\t\t\t-374.3 \u00a0
\n\t\t\t\t\t-72.6 \u00a0
\n\t\t\t\t\t-0.8 \u00a0
\n\t\t\t\t\t-552.4 \u00a0
\n\t\t\t\t\tDepreciation for the year \u00a0
\n\t\t\t\t\t-16.7 \u00a0
\n\t\t\t\t\t-42.8 \u00a0
\n\t\t\t\t\t-15.4 \u00a0
\n\t\t\t\t\t0.0 \u00a0
\n\t\t\t\t\t-74.9 \u00a0
\n\t\t\t\t\tDisposals \u00a0
\n\t\t\t\t\t1.7 \u00a0
\n\t\t\t\t\t2.1 \u00a0
\n\t\t\t\t\t1.8 \u00a0
\n\t\t\t\t\t0.0 \u00a0
\n\t\t\t\t\t5.6 \u00a0
\n\t\t\t\t\tExchange rate adjustments \u00a0
\n\t\t\t\t\t-2.5 \u00a0
\n\t\t\t\t\t-2.5 \u00a0
\n\t\t\t\t\t0.3 \u00a0
\n\t\t\t\t\t0.0 \u00a0
\n\t\t\t\t\t-4.7 \u00a0
\n\t\t\t\t\tDepreciation and impairment, 31 December 2021 \u00a0
\n\t\t\t\t\t-122.2 \u00a0
\n\t\t\t\t\t-417.5 \u00a0
\n\t\t\t\t\t-85.9 \u00a0
\n\t\t\t\t\t-0.8 \u00a0
\n\t\t\t\t\t-626.4 \u00a0
\n\t\t\t\t\tCarrying amount, 31 December 2021 \u00a0
\n\t\t\t\t\t288.4 \u00a0
\n\t\t\t\t\t257.5 \u00a0
\n\t\t\t\t\t45.6 \u00a0
\n\t\t\t\t\t191.4 \u00a0
\n\t\t\t\t\t782.9 \u00a0
\n\t\t\t\t\tCost, 1 January 2022 \u00a0
\n\t\t\t\t\t410.6 \u00a0
\n\t\t\t\t\t675.0 \u00a0
\n\t\t\t\t\t131.5 \u00a0
\n\t\t\t\t\t192.2 \u00a0
\n\t\t\t\t\t1,409.3 \u00a0
\n\t\t\t\t\tAdditions \u00a0
\n\t\t\t\t\t4.2 \u00a0
\n\t\t\t\t\t20.6 \u00a0
\n\t\t\t\t\t2.6 \u00a0
\n\t\t\t\t\t134.5 \u00a0
\n\t\t\t\t\t161.9 \u00a0
\n\t\t\t\t\tAdditions from business combinations \u00a0
\n\t\t\t\t\t6.4 \u00a0
\n\t\t\t\t\t12.7 \u00a0
\n\t\t\t\t\t0.2 \u00a0
\n\t\t\t\t\t1.6 \u00a0
\n\t\t\t\t\t20.9 \u00a0
\n\t\t\t\t\tDisposals \u00a0
\n\t\t\t\t\t-0.4 \u00a0
\n\t\t\t\t\t-7.3 \u00a0
\n\t\t\t\t\t-2.2 \u00a0
\n\t\t\t\t\t-1.3 \u00a0
\n\t\t\t\t\t-11.2 \u00a0
\n\t\t\t\t\tDisposal of subsidiaries \u00a0
\n\t\t\t\t\t-1.6 \u00a0
\n\t\t\t\t\t-0.3 \u00a0
\n\t\t\t\t\t-3.9 \u00a0
\n\t\t\t\t\t0.0 \u00a0
\n\t\t\t\t\t-5.8 \u00a0
\n\t\t\t\t\tTransferred between classes of assets \u00a0
\n\t\t\t\t\t33.4 \u00a0
\n\t\t\t\t\t53.2 \u00a0
\n\t\t\t\t\t16.2 \u00a0
\n\t\t\t\t\t-102.8 \u00a0
\n\t\t\t\t\t0.0 \u00a0
\n\t\t\t\t\tTransferred to assets held for sale \u00a0
\n\t\t\t\t\t-20.9 \u00a0
\n\t\t\t\t\t-16.5 \u00a0
\n\t\t\t\t\t-9.5 \u00a0
\n\t\t\t\t\t-3.4 \u00a0
\n\t\t\t\t\t-50.3 \u00a0
\n\t\t\t\t\tExchange rate adjustments \u00a0
\n\t\t\t\t\t-13.9 \u00a0
\n\t\t\t\t\t-10.2 \u00a0
\n\t\t\t\t\t-5.8 \u00a0
\n\t\t\t\t\t-11.3 \u00a0
\n\t\t\t\t\t-41.2 \u00a0
\n\t\t\t\t\tCost, 31 December 2022 \u00a0
\n\t\t\t\t\t417.8 \u00a0
\n\t\t\t\t\t727.2 \u00a0
\n\t\t\t\t\t129.1 \u00a0
\n\t\t\t\t\t209.5 \u00a0
\n\t\t\t\t\t1,483.6 \u00a0
\n\t\t\t\t\tDepreciation and impairment, 1 January 2022 \u00a0
\n\t\t\t\t\t-122.2 \u00a0
\n\t\t\t\t\t-417.5 \u00a0
\n\t\t\t\t\t-85.9 \u00a0
\n\t\t\t\t\t-0.8 \u00a0
\n\t\t\t\t\t-626.4 \u00a0
\n\t\t\t\t\tDepreciation for the year \u00a0
\n\t\t\t\t\t-15.5 \u00a0
\n\t\t\t\t\t-37.7 \u00a0
\n\t\t\t\t\t-12.4 \u00a0
\n\t\t\t\t\t0.0 \u00a0
\n\t\t\t\t\t-65.6 \u00a0
\n\t\t\t\t\tDisposals \u00a0
\n\t\t\t\t\t0.2 \u00a0
\n\t\t\t\t\t7.1 \u00a0
\n\t\t\t\t\t2.4 \u00a0
\n\t\t\t\t\t0.8 \u00a0
\n\t\t\t\t\t10.5 \u00a0
\n\t\t\t\t\tDisposal of subsidiaries \u00a0
\n\t\t\t\t\t1.1 \u00a0
\n\t\t\t\t\t0.0 \u00a0
\n\t\t\t\t\t3.4 \u00a0
\n\t\t\t\t\t0.0 \u00a0
\n\t\t\t\t\t4.5 \u00a0
\n\t\t\t\t\tTransferred to assets held for sale \u00a0
\n\t\t\t\t\t8.7 \u00a0
\n\t\t\t\t\t13.7 \u00a0
\n\t\t\t\t\t5.8 \u00a0
\n\t\t\t\t\t0.0 \u00a0
\n\t\t\t\t\t28.2 \u00a0
\n\t\t\t\t\tExchange rate adjustments \u00a0
\n\t\t\t\t\t2.3 \u00a0
\n\t\t\t\t\t5.1 \u00a0
\n\t\t\t\t\t2.6 \u00a0
\n\t\t\t\t\t0.0 \u00a0
\n\t\t\t\t\t10.1 \u00a0
\n\t\t\t\t\tDepreciation and impairment, 31 December 2022 \u00a0
\n\t\t\t\t\t-125.4 \u00a0
\n\t\t\t\t\t-429.3 \u00a0
\n\t\t\t\t\t-84.1 \u00a0
\n\t\t\t\t\t0.0 \u00a0
\n\t\t\t\t\t-638.8 \u00a0
\n\t\t\t\t\tCarrying amount, 31 December 2022 \u00a0
\n\t\t\t\t\t292.4 \u00a0
\n\t\t\t\t\t297.9 \u00a0
\n\t\t\t\t\t45.0 \u00a0
\n\t\t\t\t\t209.5 \u00a0
\n\t\t\t\t\t844.8 \u00a0
",
"dimensions": {
"concept": "ifrs-full:DisclosureOfLeasesExplanatory",
"language": "en",
"entity": "scheme:529900197LKWCEQ0NL18",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"fact2329": {
"value": "Accounting policy \u00a0
\n\t\t\t\t\tGoodwill is initially recognized in the balance sheet \u00a0
\n\t\t\t\t\tat cost. Subsequently, goodwill is measured at cost \u00a0
\n\t\t\t\t\tless accumulated impairment losses and is not \u00a0
\n\t\t\t\t\tamortized. \u00a0
\n\t\t\t\t\tThe carrying amount of goodwill is allocated to NKT \u00a0
\n\t\t\t\t\tGroup\u2019s cash-generating units at the acquisition date. \u00a0
\n\t\t\t\t\tCash-generating units is based on the managerial \u00a0
\n\t\t\t\t\tstructure and internal financial control. As a result \u00a0
\n\t\t\t\t\tof the integration of acquisitions in the existing NKT \u00a0
\n\t\t\t\t\tGroup, and identification of operating segments \u00a0
\n\t\t\t\t\tbased on the presence of segment managers, Group \u00a0
\n\t\t\t\t\tManagement finds that the smallest cash-generating \u00a0
\n\t\t\t\t\tunits to which the carrying amount of goodwill can \u00a0
\n\t\t\t\t\tbe allocated during testing for impairment are the \u00a0
\n\t\t\t\t\treportable segments. \u00a0
\n\t\t\t\t\tOther intangible assets, which includes IT \u00a0
\n\t\t\t\t\tsoftware, trademarks, patents and licences, are \u00a0
\n\t\t\t\t\tmeasured at cost less accumulated amortization and \u00a0
\n\t\t\t\t\timpairment losses and are amortized on a straight- \u00a0
\n\t\t\t\t\tline basis over the remaining patent or contract \u00a0
\n\t\t\t\t\tperiod or the useful life, whichever is the shorter. \u00a0
\n\t\t\t\t\tExpected useful life is determined as follow: \u00a0
\n\t\t\t\t\tTrademarks, patents and licences, etc.
3 \u201315 years \u00a0
\n\t\t\t\t\tIT software \u00a0
\n\t\t\t\t\t3 \u2013 8 years \u00a0
",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForIntangibleAssetsOtherThanGoodwillExplanatory",
"language": "en",
"entity": "scheme:529900197LKWCEQ0NL18",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"fact2330": {
"value": "Accounting policy \u00a0
\n\t\t\t\t\tGoodwill is initially recognized in the balance sheet \u00a0
\n\t\t\t\t\tat cost. Subsequently, goodwill is measured at cost \u00a0
\n\t\t\t\t\tless accumulated impairment losses and is not \u00a0
\n\t\t\t\t\tamortized. \u00a0
\n\t\t\t\t\tThe carrying amount of goodwill is allocated to NKT \u00a0
\n\t\t\t\t\tGroup\u2019s cash-generating units at the acquisition date. \u00a0
\n\t\t\t\t\tCash-generating units is based on the managerial \u00a0
\n\t\t\t\t\tstructure and internal financial control. As a result \u00a0
\n\t\t\t\t\tof the integration of acquisitions in the existing NKT \u00a0
\n\t\t\t\t\tGroup, and identification of operating segments \u00a0
\n\t\t\t\t\tbased on the presence of segment managers, Group \u00a0
\n\t\t\t\t\tManagement finds that the smallest cash-generating \u00a0
\n\t\t\t\t\tunits to which the carrying amount of goodwill can \u00a0
\n\t\t\t\t\tbe allocated during testing for impairment are the \u00a0
\n\t\t\t\t\treportable segments. \u00a0
\n\t\t\t\t\tOther intangible assets, which includes IT \u00a0
\n\t\t\t\t\tsoftware, trademarks, patents and licences, are \u00a0
\n\t\t\t\t\tmeasured at cost less accumulated amortization and \u00a0
\n\t\t\t\t\timpairment losses and are amortized on a straight- \u00a0
\n\t\t\t\t\tline basis over the remaining patent or contract \u00a0
\n\t\t\t\t\tperiod or the useful life, whichever is the shorter. \u00a0
\n\t\t\t\t\tExpected useful life is determined as follow: \u00a0
\n\t\t\t\t\tTrademarks, patents and licences, etc.
3 \u201315 years \u00a0
\n\t\t\t\t\tIT software \u00a0
\n\t\t\t\t\t3 \u2013 8 years \u00a0
",
"dimensions": {
"concept": "ifrs-full:DisclosureOfIntangibleAssetsExplanatory",
"language": "en",
"entity": "scheme:529900197LKWCEQ0NL18",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"fact2335": {
"value": "NKT Group has no leases where the rent is variable \u00a0
\n\t\t\t\t\tdepending on revenue, etc. Some contracts are ex- \u00a0
\n\t\t\t\t\tposed to future increases in variable lease payments \u00a0
\n\t\t\t\t\tbased on an index or rate, which are included in the \u00a0
\n\t\t\t\t\tlease liability when they take effect. \u00a0
Payments related to short-term leases and leases \u00a0
\n\t\t\t\t\tof low-value assets continue to be recognized on \u00a0
\n\t\t\t\t\ta straight-line basis as an expense in the income \u00a0
\n\t\t\t\t\tstatement. Low-value assets mainly comprise minor \u00a0
\n\t\t\t\t\tbuildings, cars, forklifts, IT-equipment and other office \u00a0
\n\t\t\t\t\tequipment. \u00a0
Accounting policy \u00a0
\n\t\t\t\t\tContracts relating to leased equipment are usually \u00a0
\n\t\t\t\t\tmade for a fixed period, whereas lease contracts \u00a0
\n\t\t\t\t\tfor buildings and land in some instances include an \u00a0
\n\t\t\t\t\toption to extend the lease. When assessing the life of \u00a0
\n\t\t\t\t\tthe leases, NKT considers the non-cancellable lease \u00a0
\n\t\t\t\t\tterm and options to extend the lease where it is rea- \u00a0
\n\t\t\t\t\tsonably certain to extend. The lease period of offices \u00a0
\n\t\t\t\t\tand sales buildings are assessed to be approximately \u00a0
\n\t\t\t\t\t3-10 years, for production facilities 5-10 years and \u00a0
\n\t\t\t\t\tfor land up to 20 years. For other assets the lease \u00a0
\n\t\t\t\t\tterm is equal to the non-cancelable lease period and \u00a0
\n\t\t\t\t\textensions are not considered. The right-of-use asset \u00a0
\n\t\t\t\t\tis depreciated over the shorter of the asset\u2019s useful \u00a0
\n\t\t\t\t\tlife and the lease term on a straight-line basis. \u00a0
Accounting policy \u00a0
\n\t\t\t\t\tProperty, plant and equipment are measured at cost less accumulated depreciation and \u00a0
\n\t\t\t\t\timpairment losses. \u00a0
\n\t\t\t\t\tThe cost comprises the purchase price and any costs directly attributable to the acquisition. \u00a0
\n\t\t\t\t\tThe cost of self-constructed assets comprises costs of materials, components, subcon- \u00a0
\n\t\t\t\t\ttractors and wages. The cost is supplemented by the present value of estimated liabilities \u00a0
\n\t\t\t\t\trelated to dismantling and removing the asset and restoring the site on which the asset was \u00a0
\n\t\t\t\t\tutilized. \u00a0
\n\t\t\t\t\tSubsequent costs, e.g. relating to replacement of parts of an item of property, plant and \u00a0
\n\t\t\t\t\tequipment, are recognized in the carrying amount of the asset if it is likely that the costs will \u00a0
\n\t\t\t\t\tresult in future economic benefits for the Group. All other costs relating to ordinary repair and \u00a0
\n\t\t\t\t\tmaintenance are recognized in the income statement as incurred. \u00a0
\n\t\t\t\t\tDepreciation is done on a straight-line basis over the expected useful life of the assets, as \u00a0
\n\t\t\t\t\tfollows: \u00a0
\n\t\t\t\t\tBuildings \u00a0
\n\t\t\t\t\t10 \u2013 50 years \u00a0
\n\t\t\t\t\tManufacturing plant and machinery \u00a0
\n\t\t\t\t\t4 \u2013 20 years \u00a0
\n\t\t\t\t\tFixtures, fittings, tools and equipment \u00a0
\n\t\t\t\t\t3 \u2013 15 years \u00a0
\n\t\t\t\t\tVessel \u00a0
\n\t\t\t\t\t20 years \u00a0
\n\t\t\t\t\tLand is not depreciated \u00a0
\n\t\t\t\t\tIf individual parts of an item of property, plant and equipment have different useful lives, they \u00a0
\n\t\t\t\t\tare depreciated separately. \u00a0
\n\t\t\t\t\tThe basis of depreciation is calculated according to the residual value less impairment \u00a0
\n\t\t\t\t\tlosses. The residual value is determined at the acquisition date and reviewed annually. If the \u00a0
\n\t\t\t\t\tresidual value exceeds the carrying amount, depreciation is discontinued. \u00a0
",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForPropertyPlantAndEquipmentExplanatory",
"language": "en",
"entity": "scheme:529900197LKWCEQ0NL18",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"fact2339": {
"value": "NKT Group has no leases where the rent is variable \u00a0
\n\t\t\t\t\tdepending on revenue, etc. Some contracts are ex- \u00a0
\n\t\t\t\t\tposed to future increases in variable lease payments \u00a0
\n\t\t\t\t\tbased on an index or rate, which are included in the \u00a0
\n\t\t\t\t\tlease liability when they take effect. \u00a0
Payments related to short-term leases and leases \u00a0
\n\t\t\t\t\tof low-value assets continue to be recognized on \u00a0
\n\t\t\t\t\ta straight-line basis as an expense in the income \u00a0
\n\t\t\t\t\tstatement. Low-value assets mainly comprise minor \u00a0
\n\t\t\t\t\tbuildings, cars, forklifts, IT-equipment and other office \u00a0
\n\t\t\t\t\tequipment. \u00a0
Accounting policy \u00a0
\n\t\t\t\t\tContracts relating to leased equipment are usually \u00a0
\n\t\t\t\t\tmade for a fixed period, whereas lease contracts \u00a0
\n\t\t\t\t\tfor buildings and land in some instances include an \u00a0
\n\t\t\t\t\toption to extend the lease. When assessing the life of \u00a0
\n\t\t\t\t\tthe leases, NKT considers the non-cancellable lease \u00a0
\n\t\t\t\t\tterm and options to extend the lease where it is rea- \u00a0
\n\t\t\t\t\tsonably certain to extend. The lease period of offices \u00a0
\n\t\t\t\t\tand sales buildings are assessed to be approximately \u00a0
\n\t\t\t\t\t3-10 years, for production facilities 5-10 years and \u00a0
\n\t\t\t\t\tfor land up to 20 years. For other assets the lease \u00a0
\n\t\t\t\t\tterm is equal to the non-cancelable lease period and \u00a0
\n\t\t\t\t\textensions are not considered. The right-of-use asset \u00a0
\n\t\t\t\t\tis depreciated over the shorter of the asset\u2019s useful \u00a0
\n\t\t\t\t\tlife and the lease term on a straight-line basis. \u00a0
",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForLeasesExplanatory",
"language": "en",
"entity": "scheme:529900197LKWCEQ0NL18",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"fact2342": {
"value": "Property, \u00a0
\n\t\t\t\t\tManu- \u00a0
\n\t\t\t\t\tFixtures, \u00a0
\n\t\t\t\t\tplant and \u00a0
\n\t\t\t\t\tTotal \u00a0
\n\t\t\t\t\tfacturing \u00a0
\n\t\t\t\t\tfittings, \u00a0
\n\t\t\t\t\tequipment \u00a0
\n\t\t\t\t\tproperty, \u00a0
\n\t\t\t\t\tLand and \u00a0
\n\t\t\t\t\tplant and \u00a0
\n\t\t\t\t\ttools and
under con- \u00a0
\n\t\t\t\t\tplant and \u00a0
\n\t\t\t\t\tAmounts in EURm \u00a0
\n\t\t\t\t\tbuildings \u00a0
\n\t\t\t\t\tmachinery \u00a0
\n\t\t\t\t\tequipment \u00a0
\n\t\t\t\t\tstruction \u00a0
\n\t\t\t\t\tequipment \u00a0
\n\t\t\t\t\tCost, 1 January 2021 \u00a0
\n\t\t\t\t\t396.5 \u00a0
\n\t\t\t\t\t636.2 \u00a0
\n\t\t\t\t\t120.9 \u00a0
\n\t\t\t\t\t56.4 \u00a0
\n\t\t\t\t\t1,210.0 \u00a0
\n\t\t\t\t\tAdditions \u00a0
\n\t\t\t\t\t13.4 \u00a0
\n\t\t\t\t\t5.4 \u00a0
\n\t\t\t\t\t10.4 \u00a0
\n\t\t\t\t\t173.8 \u00a0
\n\t\t\t\t\t203.0 \u00a0
\n\t\t\t\t\tDisposals \u00a0
\n\t\t\t\t\t-2.0 \u00a0
\n\t\t\t\t\t-2.3 \u00a0
\n\t\t\t\t\t-1.8 \u00a0
\n\t\t\t\t\t0.0 \u00a0
\n\t\t\t\t\t-6.1 \u00a0
\n\t\t\t\t\tTransferred between classes of assets \u00a0
\n\t\t\t\t\t0.2 \u00a0
\n\t\t\t\t\t34.2 \u00a0
\n\t\t\t\t\t2.8 \u00a0
\n\t\t\t\t\t-37.2 \u00a0
\n\t\t\t\t\t0.0 \u00a0
\n\t\t\t\t\tExchange rate adjustments \u00a0
\n\t\t\t\t\t2.5 \u00a0
\n\t\t\t\t\t1.5 \u00a0
\n\t\t\t\t\t-0.8 \u00a0
\n\t\t\t\t\t-0.8 \u00a0
\n\t\t\t\t\t2.4 \u00a0
\n\t\t\t\t\tCost, 31 December 2021 \u00a0
\n\t\t\t\t\t410.6 \u00a0
\n\t\t\t\t\t675.0 \u00a0
\n\t\t\t\t\t131.5 \u00a0
\n\t\t\t\t\t192.2 \u00a0
\n\t\t\t\t\t1,409.3 \u00a0
\n\t\t\t\t\tDepreciation and impairment, 1 January 2021 \u00a0
\n\t\t\t\t\t-104.7 \u00a0
\n\t\t\t\t\t-374.3 \u00a0
\n\t\t\t\t\t-72.6 \u00a0
\n\t\t\t\t\t-0.8 \u00a0
\n\t\t\t\t\t-552.4 \u00a0
\n\t\t\t\t\tDepreciation for the year \u00a0
\n\t\t\t\t\t-16.7 \u00a0
\n\t\t\t\t\t-42.8 \u00a0
\n\t\t\t\t\t-15.4 \u00a0
\n\t\t\t\t\t0.0 \u00a0
\n\t\t\t\t\t-74.9 \u00a0
\n\t\t\t\t\tDisposals \u00a0
\n\t\t\t\t\t1.7 \u00a0
\n\t\t\t\t\t2.1 \u00a0
\n\t\t\t\t\t1.8 \u00a0
\n\t\t\t\t\t0.0 \u00a0
\n\t\t\t\t\t5.6 \u00a0
\n\t\t\t\t\tExchange rate adjustments \u00a0
\n\t\t\t\t\t-2.5 \u00a0
\n\t\t\t\t\t-2.5 \u00a0
\n\t\t\t\t\t0.3 \u00a0
\n\t\t\t\t\t0.0 \u00a0
\n\t\t\t\t\t-4.7 \u00a0
\n\t\t\t\t\tDepreciation and impairment, 31 December 2021 \u00a0
\n\t\t\t\t\t-122.2 \u00a0
\n\t\t\t\t\t-417.5 \u00a0
\n\t\t\t\t\t-85.9 \u00a0
\n\t\t\t\t\t-0.8 \u00a0
\n\t\t\t\t\t-626.4 \u00a0
\n\t\t\t\t\tCarrying amount, 31 December 2021 \u00a0
\n\t\t\t\t\t288.4 \u00a0
\n\t\t\t\t\t257.5 \u00a0
\n\t\t\t\t\t45.6 \u00a0
\n\t\t\t\t\t191.4 \u00a0
\n\t\t\t\t\t782.9 \u00a0
\n\t\t\t\t\tCost, 1 January 2022 \u00a0
\n\t\t\t\t\t410.6 \u00a0
\n\t\t\t\t\t675.0 \u00a0
\n\t\t\t\t\t131.5 \u00a0
\n\t\t\t\t\t192.2 \u00a0
\n\t\t\t\t\t1,409.3 \u00a0
\n\t\t\t\t\tAdditions \u00a0
\n\t\t\t\t\t4.2 \u00a0
\n\t\t\t\t\t20.6 \u00a0
\n\t\t\t\t\t2.6 \u00a0
\n\t\t\t\t\t134.5 \u00a0
\n\t\t\t\t\t161.9 \u00a0
\n\t\t\t\t\tAdditions from business combinations \u00a0
\n\t\t\t\t\t6.4 \u00a0
\n\t\t\t\t\t12.7 \u00a0
\n\t\t\t\t\t0.2 \u00a0
\n\t\t\t\t\t1.6 \u00a0
\n\t\t\t\t\t20.9 \u00a0
\n\t\t\t\t\tDisposals \u00a0
\n\t\t\t\t\t-0.4 \u00a0
\n\t\t\t\t\t-7.3 \u00a0
\n\t\t\t\t\t-2.2 \u00a0
\n\t\t\t\t\t-1.3 \u00a0
\n\t\t\t\t\t-11.2 \u00a0
\n\t\t\t\t\tDisposal of subsidiaries \u00a0
\n\t\t\t\t\t-1.6 \u00a0
\n\t\t\t\t\t-0.3 \u00a0
\n\t\t\t\t\t-3.9 \u00a0
\n\t\t\t\t\t0.0 \u00a0
\n\t\t\t\t\t-5.8 \u00a0
\n\t\t\t\t\tTransferred between classes of assets \u00a0
\n\t\t\t\t\t33.4 \u00a0
\n\t\t\t\t\t53.2 \u00a0
\n\t\t\t\t\t16.2 \u00a0
\n\t\t\t\t\t-102.8 \u00a0
\n\t\t\t\t\t0.0 \u00a0
\n\t\t\t\t\tTransferred to assets held for sale \u00a0
\n\t\t\t\t\t-20.9 \u00a0
\n\t\t\t\t\t-16.5 \u00a0
\n\t\t\t\t\t-9.5 \u00a0
\n\t\t\t\t\t-3.4 \u00a0
\n\t\t\t\t\t-50.3 \u00a0
\n\t\t\t\t\tExchange rate adjustments \u00a0
\n\t\t\t\t\t-13.9 \u00a0
\n\t\t\t\t\t-10.2 \u00a0
\n\t\t\t\t\t-5.8 \u00a0
\n\t\t\t\t\t-11.3 \u00a0
\n\t\t\t\t\t-41.2 \u00a0
\n\t\t\t\t\tCost, 31 December 2022 \u00a0
\n\t\t\t\t\t417.8 \u00a0
\n\t\t\t\t\t727.2 \u00a0
\n\t\t\t\t\t129.1 \u00a0
\n\t\t\t\t\t209.5 \u00a0
\n\t\t\t\t\t1,483.6 \u00a0
\n\t\t\t\t\tDepreciation and impairment, 1 January 2022 \u00a0
\n\t\t\t\t\t-122.2 \u00a0
\n\t\t\t\t\t-417.5 \u00a0
\n\t\t\t\t\t-85.9 \u00a0
\n\t\t\t\t\t-0.8 \u00a0
\n\t\t\t\t\t-626.4 \u00a0
\n\t\t\t\t\tDepreciation for the year \u00a0
\n\t\t\t\t\t-15.5 \u00a0
\n\t\t\t\t\t-37.7 \u00a0
\n\t\t\t\t\t-12.4 \u00a0
\n\t\t\t\t\t0.0 \u00a0
\n\t\t\t\t\t-65.6 \u00a0
\n\t\t\t\t\tDisposals \u00a0
\n\t\t\t\t\t0.2 \u00a0
\n\t\t\t\t\t7.1 \u00a0
\n\t\t\t\t\t2.4 \u00a0
\n\t\t\t\t\t0.8 \u00a0
\n\t\t\t\t\t10.5 \u00a0
\n\t\t\t\t\tDisposal of subsidiaries \u00a0
\n\t\t\t\t\t1.1 \u00a0
\n\t\t\t\t\t0.0 \u00a0
\n\t\t\t\t\t3.4 \u00a0
\n\t\t\t\t\t0.0 \u00a0
\n\t\t\t\t\t4.5 \u00a0
\n\t\t\t\t\tTransferred to assets held for sale \u00a0
\n\t\t\t\t\t8.7 \u00a0
\n\t\t\t\t\t13.7 \u00a0
\n\t\t\t\t\t5.8 \u00a0
\n\t\t\t\t\t0.0 \u00a0
\n\t\t\t\t\t28.2 \u00a0
\n\t\t\t\t\tExchange rate adjustments \u00a0
\n\t\t\t\t\t2.3 \u00a0
\n\t\t\t\t\t5.1 \u00a0
\n\t\t\t\t\t2.6 \u00a0
\n\t\t\t\t\t0.0 \u00a0
\n\t\t\t\t\t10.1 \u00a0
\n\t\t\t\t\tDepreciation and impairment, 31 December 2022 \u00a0
\n\t\t\t\t\t-125.4 \u00a0
\n\t\t\t\t\t-429.3 \u00a0
\n\t\t\t\t\t-84.1 \u00a0
\n\t\t\t\t\t0.0 \u00a0
\n\t\t\t\t\t-638.8 \u00a0
\n\t\t\t\t\tCarrying amount, 31 December 2022 \u00a0
\n\t\t\t\t\t292.4 \u00a0
\n\t\t\t\t\t297.9 \u00a0
\n\t\t\t\t\t45.0 \u00a0
\n\t\t\t\t\t209.5 \u00a0
\n\t\t\t\t\t844.8 \u00a0
3.3 Impairment test \u00a0
\n\t\t\t\t\tResult of the annual impairment test \u00a0
\n\t\t\t\t\tAt 31 December 2022, the carrying amount of good- \u00a0
\n\t\t\t\t\twill, other intangible assets and tangible assets were \u00a0
\n\t\t\t\t\ttested for impairment. The impairment test showed \u00a0
\n\t\t\t\t\tno impairment for 2022 (no impairment in 2021). \u00a0
\n\t\t\t\t\tThe recoverable amount per cash-generating unit \u00a0
\n\t\t\t\t\texceeded the carrying amount of goodwill, other \u00a0
\n\t\t\t\t\tintangible assets and other assets allocated to the \u00a0
\n\t\t\t\t\tcash-generating unit with the following amounts at 31 \u00a0
\n\t\t\t\t\tDecember: \u00a0
\n\t\t\t\t\tHeadroom in EURm \u00a0
\n\t\t\t\t\t2022 \u00a0
\n\t\t\t\t\t2021 \u00a0
\n\t\t\t\t\tCash-generating units \u00a0
\n\t\t\t\t\tSolutions \u00a0
\n\t\t\t\t\t831 \u00a0
\n\t\t\t\t\t303 \u00a0
\n\t\t\t\t\tService & Accessories \u00a0
\n\t\t\t\t\t120 \u00a0
\n\t\t\t\t\t152 \u00a0
\n\t\t\t\t\tCash-generating units \u00a0
\n\t\t\t\t\tCash-generating units identified in NKT Group are \u00a0
\n\t\t\t\t\tsimilar to the operating segments, being Solutions, \u00a0
\n\t\t\t\t\tApplications and Service & Accessories. These are \u00a0
\n\t\t\t\t\tconsidered to be the lowest level of cash-generating \u00a0
\n\t\t\t\t\tunits as defined by management. \u00a0
\n\t\t\t\t\tThe definition of cash-generating units is based on \u00a0
\n\t\t\t\t\tthe smallest identifiable group of assets that together \u00a0
\n\t\t\t\t\tgenerate cash inflows from continued use and which \u00a0
\n\t\t\t\t\tare independent of the cash flows from other assets \u00a0
\n\t\t\t\t\tor groups of assets. \u00a0
\n\t\t\t\t\tThe definition of cash-generating units complies with \u00a0
\n\t\t\t\t\tthe managerial structure and the internal financial re- \u00a0
\n\t\t\t\t\tporting in NKT Group. For impairment test purposes, \u00a0
\n\t\t\t\t\ttangible assets and intangible assets are allocated to \u00a0
\n\t\t\t\t\tthe respective cash-generating units. \u00a0
Significant estimates \u00a0
\n\t\t\t\t\tGoodwill \u00a0
\n\t\t\t\t\tGoodwill has been allocated to the cash-generating units according to the split present- \u00a0
\n\t\t\t\t\ted below. The goodwill level in Applications was immaterial and the assumptions for the \u00a0
\n\t\t\t\t\timpairment test of goodwill are not described any further for this cash-generating unit. The \u00a0
\n\t\t\t\t\tcarrying amount of goodwill was as follows: \u00a0
Amounts in EURm \u00a0
\n\t\t\t\t\t2022 \u00a0
\n\t\t\t\t\t2021 \u00a0
\n\t\t\t\t\tSolutions \u00a0
\n\t\t\t\t\t298.1 \u00a0
\n\t\t\t\t\t323.3 \u00a0
\n\t\t\t\t\tApplications \u00a0
\n\t\t\t\t\t6.7 \u00a0
\n\t\t\t\t\t6.5 \u00a0
\n\t\t\t\t\tService & Accessories \u00a0
\n\t\t\t\t\t45.6 \u00a0
\n\t\t\t\t\t49.3 \u00a0
\n\t\t\t\t\tNKT Photonics \u00a0
\n\t\t\t\t\t-
\n\t\t\t\t\t25.3 \u00a0
\n\t\t\t\t\tTotal \u00a0
\n\t\t\t\t\t350.4 \u00a0
\n\t\t\t\t\t404.4 \u00a0
Key Assumptions \u00a0
\n\t\t\t\t\tThe recoverable amount is based on a value-in-use calculation. For all cash-generating \u00a0
\n\t\t\t\t\tunits, the calculation uses cash flow projections (budget period) based on financial budget \u00a0
\n\t\t\t\t\tfor 2023 and financial forecasts for 2024\u20132028, hence a 6 year budget period. Significant \u00a0
\n\t\t\t\t\tparameters in these estimates are revenue growth, EBITDA margin, discount rate, working \u00a0
\n\t\t\t\t\tcapital and growth expectations for the terminal period. \u00a0
\n\t\t\t\t\tThe discount rate has been revised for each cash-generating unit to reflect the latest market \u00a0
\n\t\t\t\t\tassumptions for the risk-free rate based on a 5-year German government bond, the equity \u00a0
\n\t\t\t\t\trisk premium and the cost of debt.The long-term growth rate for the terminal period is based \u00a0
\n\t\t\t\t\ton the expected growth in the world economy as well as long-term development for the \u00a0
\n\t\t\t\t\tindustries and markets in which the cash-generating units operate. \u00a0
\n\t\t\t\t\tGroup Management determines, as illustrated on the following page, the expected annual \u00a0
\n\t\t\t\t\tgrowth rate in the budget period, the expected margins based on historical experience and \u00a0
\n\t\t\t\t\tthe assumptions about expected market developments. These assumptions are by nature \u00a0
\n\t\t\t\t\tsubject to uncertainty, which is why attention to the sensitivity analysis provided is recom- \u00a0
\n\t\t\t\t\tmended. \u00a0
Accounting policy \u00a0
\n\t\t\t\t\tGoodwill, intangible assets with indefinite useful lives and development \u00a0
\n\t\t\t\t\tprojects are tested at least annually for impairment, and furthermore \u00a0
\n\t\t\t\t\twhen a trigger event occurs. \u00a0
\n\t\t\t\t\tThe carrying amount of goodwill is tested for impairment together with \u00a0
\n\t\t\t\t\tthe other non-current assets in the cash-generating unit to which good- \u00a0
\n\t\t\t\t\twill is allocated. The recoverable amount is generally computed as the \u00a0
\n\t\t\t\t\tpresent value of the expected future net cash flows from the business or \u00a0
\n\t\t\t\t\tactivity (cash-generating unit) to which goodwill is allocated. \u00a0
\n\t\t\t\t\tOther non-current assets \u00a0
\n\t\t\t\t\tThe carrying amount of other non-current assets is tested when a trigger \u00a0
\n\t\t\t\t\tevent occurs which could indicate an impairment, in which case, the \u00a0
\n\t\t\t\t\trecoverable amount of the asset is determined. The recoverable amount \u00a0
\n\t\t\t\t\tis the fair value of the asset less anticipated cost of disposal, or its value- \u00a0
\n\t\t\t\t\tin-use, whichever is the higher. \u00a0
\n\t\t\t\t\tThe value-in-use is calculated as the present value of expected future \u00a0
\n\t\t\t\t\tcash flows from the asset or the cash-generating unit of which the asset \u00a0
\n\t\t\t\t\tis part. \u00a0
\n\t\t\t\t\tRecognition of impairment loss in the income statement \u00a0
\n\t\t\t\t\tImpairment is recognized if the carrying amount of an asset or a \u00a0
\n\t\t\t\t\tcash-generating unit exceeds the respective recoverable amount. The \u00a0
\n\t\t\t\t\timpairment is recognized in the income statement and impairment of \u00a0
\n\t\t\t\t\tgoodwill is recognized in a separate line item in the income statement. \u00a0
\n\t\t\t\t\tImpairment of goodwill is not reversed. Impairment of other assets is re- \u00a0
\n\t\t\t\t\tversed in the event of changes having taken place in the conditions and \u00a0
\n\t\t\t\t\testimates on which the impairment calculation was based. Impairment \u00a0
\n\t\t\t\t\tis only reversed if the new carrying amount of the asset does not exceed \u00a0
\n\t\t\t\t\tthe carrying amount that would have applied after amortization if the \u00a0
\n\t\t\t\t\tasset had not been impaired. \u00a0
Solutions \u00a0
\n\t\t\t\t\tBudget period \u00a0
\n\t\t\t\t\tTerminal period \u00a0
\n\t\t\t\t\t2022 \u00a0
\n\t\t\t\t\t2021 \u00a0
\n\t\t\t\t\t2022 \u00a0
\n\t\t\t\t\t2021 \u00a0
\n\t\t\t\t\tKey assumptions1 \u00a0
\n\t\t\t\t\tAverage revenue growth rate \u00a0
\n\t\t\t\t\t13.0% \u00a0
\n\t\t\t\t\t13.3% \u00a0
\n\t\t\t\t\t-
\n\t\t\t\t\t-
\n\t\t\t\t\tAverage EBITDA margin \u00a0
\n\t\t\t\t\t17.5% \u00a0
\n\t\t\t\t\t14.0% \u00a0
\n\t\t\t\t\t-
\n\t\t\t\t\t-
\n\t\t\t\t\tGrowth rate \u00a0
\n\t\t\t\t\t-
\n\t\t\t\t\t-
\n\t\t\t\t\t2.0% \u00a0
\n\t\t\t\t\t1.5% \u00a0
\n\t\t\t\t\tAverage working capital ratio
-46.3% -20.4% \u00a0
\n\t\t\t\t\t-
\n\t\t\t\t\t-
\n\t\t\t\t\tDiscount rate after tax \u00a0
\n\t\t\t\t\t10.0% \u00a0
\n\t\t\t\t\t6.8% \u00a0
\n\t\t\t\t\t10.0% \u00a0
\n\t\t\t\t\t7.8% \u00a0
\n\t\t\t\t\tDiscount rate before tax \u00a0
\n\t\t\t\t\t13.3% \u00a0
\n\t\t\t\t\t9.1% \u00a0
\n\t\t\t\t\t13.3% \u00a0
\n\t\t\t\t\t10.4% \u00a0
\n\t\t\t\t\tSensitivity \u00a0
\n\t\t\t\t\tDiscount rate after tax \u00a0
\n\t\t\t\t\t19.2% \u00a0
\n\t\t\t\t\t9.9% \u00a0
\n\t\t\t\t\tGrowth rate \u00a0
\n\t\t\t\t\t-16.7% \u00a0
\n\t\t\t\t\t-3.1% \u00a0
\n\t\t\t\t\tChange in EBITDA \u00a0
\n\t\t\t\t\t-49.7% -20.0% \u00a0
In 2022, Solutions was awarded additional high-voltage cable projects \u00a0
\n\t\t\t\t\tmaintaining the high backlog, ensuring a high level of activity during the \u00a0
\n\t\t\t\t\tbudget period. Management assesses that NKT will be one of the key \u00a0
\n\t\t\t\t\tbeneficiaries of the global expansion in green technology over the world. \u00a0
\n\t\t\t\t\tThese will be the main drivers for the growth in Solutions from 2023 \u00a0
\n\t\t\t\t\tand onwards. The continued growth in renewable power generation is \u00a0
\n\t\t\t\t\tan important driver in the attractive outlook for the high-voltage market. \u00a0
\n\t\t\t\t\tProgress continues on several tenders across market segments and ge- \u00a0
\n\t\t\t\t\tographies, where NKT still views Europe as its largest market opportuni- \u00a0
\n\t\t\t\t\tty, but more projects are coming particularly in the US as well as in Asia. \u00a0
\n\t\t\t\t\tFollowing the awards in 2022, NKT still expects the value of high-voltage \u00a0
\n\t\t\t\t\tproject awards in relevant markets to stay at a high level for a long term. \u00a0
\n\t\t\t\t\tAssessing future awards to NKT is although by nature subject to uncer- \u00a0
\n\t\t\t\t\ttainty, and the value-in-use calculation of the Solution cash-generating \u00a0
\n\t\t\t\t\tunit is sensitive to changes in the actual share of projects awarded to \u00a0
\n\t\t\t\t\tNKT. However, the large backlog provides higher certainty regarding the \u00a0
\n\t\t\t\t\tfuture revenue and earnings. \u00a0
Service & Accessories \u00a0
\n\t\t\t\t\tBudget period \u00a0
\n\t\t\t\t\tTerminal period \u00a0
\n\t\t\t\t\t2022 \u00a0
\n\t\t\t\t\t2021 \u00a0
\n\t\t\t\t\t2022 \u00a0
\n\t\t\t\t\t2021 \u00a0
\n\t\t\t\t\tKey assumptions1 \u00a0
\n\t\t\t\t\tAverage revenue growth rate \u00a0
\n\t\t\t\t\t4.6% \u00a0
\n\t\t\t\t\t0.3% \u00a0
\n\t\t\t\t\t-
\n\t\t\t\t\t-
\n\t\t\t\t\tAverage EBITDA margin \u00a0
\n\t\t\t\t\t11.9% \u00a0
\n\t\t\t\t\t12.7% \u00a0
\n\t\t\t\t\t-
\n\t\t\t\t\t-
\n\t\t\t\t\tGrowth rate \u00a0
\n\t\t\t\t\t-
\n\t\t\t\t\t-
\n\t\t\t\t\t2.0% \u00a0
\n\t\t\t\t\t1.0% \u00a0
\n\t\t\t\t\tAverage working capital ratio \u00a0
\n\t\t\t\t\t13.2% \u00a0
\n\t\t\t\t\t11.3% \u00a0
\n\t\t\t\t\t-
\n\t\t\t\t\t-
\n\t\t\t\t\tDiscount rate after tax \u00a0
\n\t\t\t\t\t9.7% \u00a0
\n\t\t\t\t\t6.5% \u00a0
\n\t\t\t\t\t9.7% \u00a0
\n\t\t\t\t\t7.5% \u00a0
\n\t\t\t\t\tDiscount rate before tax \u00a0
\n\t\t\t\t\t13.1% \u00a0
\n\t\t\t\t\t8.8% \u00a0
\n\t\t\t\t\t13.1% \u00a0
\n\t\t\t\t\t10.1% \u00a0
\n\t\t\t\t\tSensitivity \u00a0
\n\t\t\t\t\tDiscount rate after tax \u00a0
\n\t\t\t\t\t21.4% \u00a0
\n\t\t\t\t\t25.5% \u00a0
\n\t\t\t\t\tGrowth rate \u00a0
\n\t\t\t\t\t-24.2% -50.0% \u00a0
\n\t\t\t\t\tChange in EBITDA \u00a0
\n\t\t\t\t\t-60.7% -71.1% \u00a0
The market for servicing power cables is gradually growing, and the \u00a0
\n\t\t\t\t\tcompetitive landscape among service providers is diverse, with different \u00a0
\n\t\t\t\t\tcompanies offering different solutions. Power cable failures are costly for \u00a0
\n\t\t\t\t\tboth on- and offshore operators, and if an incident does occur, power \u00a0
\n\t\t\t\t\tcable operation must be restored as fast as possible, hence the increas- \u00a0
\n\t\t\t\t\ting interest in service agreements. The customers increasingly demand \u00a0
\n\t\t\t\t\tservices that will enable them to improve power cable efficiency and \u00a0
\n\t\t\t\t\tsolutions that can help predict, prevent and mitigate power cable failures. \u00a0
\n\t\t\t\t\t2021 was a very positive year for Service, driven by an unusual high level \u00a0
\n\t\t\t\t\tof repair jobs. While not expected at the same level as 2021, the Service \u00a0
\n\t\t\t\t\tmarket is expected to see attractive growth in the years ahead, driven by \u00a0
\n\t\t\t\t\tthe installation of further power cables both off- and onshore in line with \u00a0
\n\t\t\t\t\tthe megatrends driving the power cable market. However, the market will \u00a0
\n\t\t\t\t\tfluctuate during this period depending on the number of large offshore \u00a0
\n\t\t\t\t\tcable repairs. \u00a0
Accessories deliver necessary components of power cable systems, \u00a0
\n\t\t\t\t\tand their market is therefore closely linked to that for medium- and \u00a0
\n\t\t\t\t\thigh-voltage power cables. The market is therefore expected to increase \u00a0
\n\t\t\t\t\tand NKT expects to reach even more markets over the coming years. As \u00a0
\n\t\t\t\t\twith power cables, competitive pressure for Accessories is greatest at \u00a0
\n\t\t\t\t\tthe lowest voltage levels due to the increasing complexity of accessories \u00a0
\n\t\t\t\t\tfor higher voltage application. \u00a0
NKT Photonics \u00a0
\n\t\t\t\t\tBudget period \u00a0
\n\t\t\t\t\tTerminal period \u00a0
\n\t\t\t\t\t2021 \u00a0
\n\t\t\t\t\t2021 \u00a0
\n\t\t\t\t\tKey assumptions1 \u00a0
\n\t\t\t\t\tAverage revenue growth rate \u00a0
\n\t\t\t\t\t10.6% \u00a0
\n\t\t\t\t\t-
\n\t\t\t\t\tAverage EBITDA margin \u00a0
\n\t\t\t\t\t19.0% \u00a0
\n\t\t\t\t\t-
\n\t\t\t\t\tGrowth rate \u00a0
\n\t\t\t\t\t-
\n\t\t\t\t\t2.0% \u00a0
\n\t\t\t\t\tAverage working capital ratio \u00a0
\n\t\t\t\t\t13.5% \u00a0
\n\t\t\t\t\t-
\n\t\t\t\t\tDiscount rate after tax \u00a0
\n\t\t\t\t\t7.7% \u00a0
\n\t\t\t\t\t8.7% \u00a0
\n\t\t\t\t\tDiscount rate before tax \u00a0
\n\t\t\t\t\t10.1% \u00a0
\n\t\t\t\t\t11.4% \u00a0
\n\t\t\t\t\tSensitivity \u00a0
\n\t\t\t\t\tDiscount rate after tax \u00a0
\n\t\t\t\t\t10.3% \u00a0
\n\t\t\t\t\tGrowth rate \u00a0
\n\t\t\t\t\t0.4% \u00a0
\n\t\t\t\t\tChange in EBITDA \u00a0
\n\t\t\t\t\t-9.0% \u00a0
In June 2022, NKT Photonics was transferred to assets held for sale. Con- \u00a0
\n\t\t\t\t\tsequently, no impairment test based on value-in-use has been performed \u00a0
\n\t\t\t\t\tin 2022. Reference is made to note 6.3 for further information of NKT \u00a0
\n\t\t\t\t\tPhotonics. In 2021, the impairment test for NKT Photonics resulted in a \u00a0
\n\t\t\t\t\theadroom of EUR 22m based on the key assumptions illustrated above. \u00a0
Sensitivity to changes in assumptions \u00a0
\n\t\t\t\t\tThe sensitivity analysis presented for each cash-generating unit in the ta- \u00a0
\n\t\t\t\t\tbles above, considers when a change in a given assumption will decrease \u00a0
\n\t\t\t\t\tthe value-in-use to the extend that the value-in-use equals the carrying \u00a0
\n\t\t\t\t\tamount. Changes in more assumptions at once is not considered. The \u00a0
\n\t\t\t\t\tgeneral assumption, that NKT will be awarded its fair share of future \u00a0
\n\t\t\t\t\tprojects, is not considered separately. \u00a0
\n\t\t\t\t\tIt is Management\u2019s assessment that likely changes in the key assumption \u00a0
\n\t\t\t\t\twill not cause the carrying amount of goodwill to exceed the recoverable \u00a0
\n\t\t\t\t\tamount. However, to show the headroom between the carrying amount \u00a0
\n\t\t\t\t\tand the recoverable amounts, a sensitivity analysis has been included, \u00a0
\n\t\t\t\t\twith focus on discount rate, growth rate and EBITDA in terminal period. \u00a0
Impairment on trade receivables amounted to 1% of trade receivables \u00a0
\n\t\t\t\t\tunchanged from 1% in 2021. For further information on credit risks, \u00a0
\n\t\t\t\t\tplease see Section 5.6. \u00a0
Accounting policy \u00a0
\n\t\t\t\t\tTrade receivables are at initial recognition measured at their transaction \u00a0
\n\t\t\t\t\tprice less allowance for expected credit losses over the lifetime and are \u00a0
\n\t\t\t\t\tsubsequently measured at amortized cost adjusted for changes to the \u00a0
\n\t\t\t\t\texpected credit losses. Expected credit losses at initial recognition are \u00a0
\n\t\t\t\t\tcalculated for portfolios of receivables that share credit risk characteris- \u00a0
\n\t\t\t\t\ttics and is based on historical experience and, when applicable, adjusted \u00a0
\n\t\t\t\t\tfor factors that are specific to the debtors and general economic con- \u00a0
\n\t\t\t\t\tditions. The portfolios are primarily based on the debtor\u2019s domicile and \u00a0
\n\t\t\t\t\tcredit rating in accordance with NKT Groups credit risk management \u00a0
\n\t\t\t\t\tpolicy, see Section 5.6. \u00a0
\n\t\t\t\t\tWhen there is an indication of impairment, expected credit losses are \u00a0
\n\t\t\t\t\tcalculated at individual level and when there are no reasonable expecta- \u00a0
\n\t\t\t\t\ttions of recovering, the receivable is written off in part or entirely. \u00a0
\n\t\t\t\t\tThe allowances for expected credit losses and write-offs for trade receiv- \u00a0
\n\t\t\t\t\tables are recognized in the income statement as Other costs. \u00a0
",
"dimensions": {
"concept": "ifrs-full:DisclosureOfImpairmentOfAssetsExplanatory",
"language": "en",
"entity": "scheme:529900197LKWCEQ0NL18",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"fact2358": {
"value": "Accounting policy \u00a0
\n\t\t\t\t\tProperty, plant and equipment are measured at cost less accumulated depreciation and \u00a0
\n\t\t\t\t\timpairment losses. \u00a0
\n\t\t\t\t\tThe cost comprises the purchase price and any costs directly attributable to the acquisition. \u00a0
\n\t\t\t\t\tThe cost of self-constructed assets comprises costs of materials, components, subcon- \u00a0
\n\t\t\t\t\ttractors and wages. The cost is supplemented by the present value of estimated liabilities \u00a0
\n\t\t\t\t\trelated to dismantling and removing the asset and restoring the site on which the asset was \u00a0
\n\t\t\t\t\tutilized. \u00a0
\n\t\t\t\t\tSubsequent costs, e.g. relating to replacement of parts of an item of property, plant and \u00a0
\n\t\t\t\t\tequipment, are recognized in the carrying amount of the asset if it is likely that the costs will \u00a0
\n\t\t\t\t\tresult in future economic benefits for the Group. All other costs relating to ordinary repair and \u00a0
\n\t\t\t\t\tmaintenance are recognized in the income statement as incurred. \u00a0
\n\t\t\t\t\tDepreciation is done on a straight-line basis over the expected useful life of the assets, as \u00a0
\n\t\t\t\t\tfollows: \u00a0
\n\t\t\t\t\tBuildings \u00a0
\n\t\t\t\t\t10 \u2013 50 years \u00a0
\n\t\t\t\t\tManufacturing plant and machinery \u00a0
\n\t\t\t\t\t4 \u2013 20 years \u00a0
\n\t\t\t\t\tFixtures, fittings, tools and equipment \u00a0
\n\t\t\t\t\t3 \u2013 15 years \u00a0
\n\t\t\t\t\tVessel \u00a0
\n\t\t\t\t\t20 years \u00a0
\n\t\t\t\t\tLand is not depreciated \u00a0
\n\t\t\t\t\tIf individual parts of an item of property, plant and equipment have different useful lives, they \u00a0
\n\t\t\t\t\tare depreciated separately. \u00a0
\n\t\t\t\t\tThe basis of depreciation is calculated according to the residual value less impairment \u00a0
\n\t\t\t\t\tlosses. The residual value is determined at the acquisition date and reviewed annually. If the \u00a0
\n\t\t\t\t\tresidual value exceeds the carrying amount, depreciation is discontinued. \u00a0
",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForDepreciationExpenseExplanatory",
"language": "en",
"entity": "scheme:529900197LKWCEQ0NL18",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"fact2359": {
"value": "Significant estimates \u00a0
\n\t\t\t\t\tGoodwill \u00a0
\n\t\t\t\t\tGoodwill has been allocated to the cash-generating units according to the split present- \u00a0
\n\t\t\t\t\ted below. The goodwill level in Applications was immaterial and the assumptions for the \u00a0
\n\t\t\t\t\timpairment test of goodwill are not described any further for this cash-generating unit. The \u00a0
\n\t\t\t\t\tcarrying amount of goodwill was as follows: \u00a0
",
"dimensions": {
"concept": "ifrs-full:DisclosureOfGoodwillExplanatory",
"language": "en",
"entity": "scheme:529900197LKWCEQ0NL18",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"fact2360": {
"value": "Accounting policy \u00a0
\n\t\t\t\t\tGoodwill, intangible assets with indefinite useful lives and development \u00a0
\n\t\t\t\t\tprojects are tested at least annually for impairment, and furthermore \u00a0
\n\t\t\t\t\twhen a trigger event occurs. \u00a0
\n\t\t\t\t\tThe carrying amount of goodwill is tested for impairment together with \u00a0
\n\t\t\t\t\tthe other non-current assets in the cash-generating unit to which good- \u00a0
\n\t\t\t\t\twill is allocated. The recoverable amount is generally computed as the \u00a0
\n\t\t\t\t\tpresent value of the expected future net cash flows from the business or \u00a0
\n\t\t\t\t\tactivity (cash-generating unit) to which goodwill is allocated. \u00a0
\n\t\t\t\t\tOther non-current assets \u00a0
\n\t\t\t\t\tThe carrying amount of other non-current assets is tested when a trigger \u00a0
\n\t\t\t\t\tevent occurs which could indicate an impairment, in which case, the \u00a0
\n\t\t\t\t\trecoverable amount of the asset is determined. The recoverable amount \u00a0
\n\t\t\t\t\tis the fair value of the asset less anticipated cost of disposal, or its value- \u00a0
\n\t\t\t\t\tin-use, whichever is the higher. \u00a0
\n\t\t\t\t\tThe value-in-use is calculated as the present value of expected future \u00a0
\n\t\t\t\t\tcash flows from the asset or the cash-generating unit of which the asset \u00a0
\n\t\t\t\t\tis part. \u00a0
\n\t\t\t\t\tRecognition of impairment loss in the income statement \u00a0
\n\t\t\t\t\tImpairment is recognized if the carrying amount of an asset or a \u00a0
\n\t\t\t\t\tcash-generating unit exceeds the respective recoverable amount. The \u00a0
\n\t\t\t\t\timpairment is recognized in the income statement and impairment of \u00a0
\n\t\t\t\t\tgoodwill is recognized in a separate line item in the income statement. \u00a0
\n\t\t\t\t\tImpairment of goodwill is not reversed. Impairment of other assets is re- \u00a0
\n\t\t\t\t\tversed in the event of changes having taken place in the conditions and \u00a0
\n\t\t\t\t\testimates on which the impairment calculation was based. Impairment \u00a0
\n\t\t\t\t\tis only reversed if the new carrying amount of the asset does not exceed \u00a0
\n\t\t\t\t\tthe carrying amount that would have applied after amortization if the \u00a0
\n\t\t\t\t\tasset had not been impaired. \u00a0
",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForImpairmentOfAssetsExplanatory",
"language": "en",
"entity": "scheme:529900197LKWCEQ0NL18",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"fact2361": {
"value": "3.4 Provisions and pension liabilities \u00a0
\n\t\t\t\t\tWarranty Restructuring \u00a0
\n\t\t\t\t\tOther \u00a0
\n\t\t\t\t\tPension \u00a0
\n\t\t\t\t\tAmounts in EURm \u00a0
\n\t\t\t\t\tprovision \u00a0
\n\t\t\t\t\tprovision \u00a0
\n\t\t\t\t\tprovisions \u00a0
\n\t\t\t\t\tliabilities, net \u00a0
\n\t\t\t\t\tTotal \u00a0
\n\t\t\t\t\tProvisions, 1 January 2022 \u00a0
\n\t\t\t\t\t6.9 \u00a0
\n\t\t\t\t\t14.7 \u00a0
\n\t\t\t\t\t50.4 \u00a0
\n\t\t\t\t\t53.8 \u00a0
\n\t\t\t\t\t125.8 \u00a0
\n\t\t\t\t\tAdditions in the year \u00a0
\n\t\t\t\t\t0.5 \u00a0
\n\t\t\t\t\t0.1 \u00a0
\n\t\t\t\t\t14.2 \u00a0
\n\t\t\t\t\t1.1 \u00a0
\n\t\t\t\t\t15.9 \u00a0
\n\t\t\t\t\tUsed during the year \u00a0
\n\t\t\t\t\t-0.1 \u00a0
\n\t\t\t\t\t-5.3 \u00a0
\n\t\t\t\t\t-11.2 \u00a0
\n\t\t\t\t\t-1.9 \u00a0
\n\t\t\t\t\t-18.5 \u00a0
\n\t\t\t\t\tReversed during the year \u00a0
\n\t\t\t\t\t-4.9 \u00a0
\n\t\t\t\t\t-0.3 \u00a0
\n\t\t\t\t\t-27.7 \u00a0
\n\t\t\t\t\t0.0 \u00a0
\n\t\t\t\t\t-32.9 \u00a0
\n\t\t\t\t\tTransfer to assets held for sale \u00a0
\n\t\t\t\t\t-1.1 \u00a0
\n\t\t\t\t\t0.0 \u00a0
\n\t\t\t\t\t0.0 \u00a0
\n\t\t\t\t\t0.0 \u00a0
\n\t\t\t\t\t-1.1 \u00a0
\n\t\t\t\t\tExchange rate adjustment \u00a0
\n\t\t\t\t\t-0.4 \u00a0
\n\t\t\t\t\t0.0 \u00a0
\n\t\t\t\t\t-1.7 \u00a0
\n\t\t\t\t\t0.0 \u00a0
\n\t\t\t\t\t-2.1 \u00a0
\n\t\t\t\t\tActuarial gains/losses on defined benefit pension plans \u00a0
\n\t\t\t\t\t0.0 \u00a0
\n\t\t\t\t\t0.0 \u00a0
\n\t\t\t\t\t0.0 \u00a0
\n\t\t\t\t\t-11.7 \u00a0
\n\t\t\t\t\t-11.7 \u00a0
\n\t\t\t\t\tProvisions, 31 December 2022 \u00a0
\n\t\t\t\t\t0.9 \u00a0
\n\t\t\t\t\t9.2 \u00a0
\n\t\t\t\t\t24.0 \u00a0
\n\t\t\t\t\t41.3 \u00a0
\n\t\t\t\t\t75.4 \u00a0
\n\t\t\t\t\tProvisions are recognized in the balance sheet as: \u00a0
\n\t\t\t\t\tNon-current liabilities \u00a0
\n\t\t\t\t\t0.0 \u00a0
\n\t\t\t\t\t4.4 \u00a0
\n\t\t\t\t\t7.0 \u00a0
\n\t\t\t\t\t41.3 \u00a0
\n\t\t\t\t\t52.7 \u00a0
\n\t\t\t\t\tCurrent liabilities \u00a0
\n\t\t\t\t\t0.9 \u00a0
\n\t\t\t\t\t4.8 \u00a0
\n\t\t\t\t\t17.0 \u00a0
\n\t\t\t\t\t0.0 \u00a0
\n\t\t\t\t\t22.7 \u00a0
\n\t\t\t\t\t0.9 \u00a0
\n\t\t\t\t\t9.2 \u00a0
\n\t\t\t\t\t24.0 \u00a0
\n\t\t\t\t\t41.3 \u00a0
\n\t\t\t\t\t75.4 \u00a0
Actuarial gains related to the pension liabilities are recognized in other \u00a0
\n\t\t\t\t\tcomprehensive income. The pension liability also include other long term \u00a0
\n\t\t\t\t\tbenefits relating to anniversary bonuses, etc., amounting to EUR 2.0m \u00a0
\n\t\t\t\t\t(EUR 1.9m in 2021). At the end of 2022, there were no plan assets to be \u00a0
\n\t\t\t\t\toffset in the present value of the liability. \u00a0
\n\t\t\t\t\tActuarial assumptions applied \u00a0
\n\t\t\t\t\t2022 \u00a0
\n\t\t\t\t\t2021 \u00a0
\n\t\t\t\t\tDiscount rate \u00a0
\n\t\t\t\t\t3.4% \u00a0
\n\t\t\t\t\t1.1% \u00a0
\n\t\t\t\t\tFuture salary increases \u00a0
\n\t\t\t\t\t3.0% \u00a0
\n\t\t\t\t\t3.0% \u00a0
\n\t\t\t\t\tFuture pension increases \u00a0
\n\t\t\t\t\t2.2% \u00a0
\n\t\t\t\t\t2.0% \u00a0
Sensitivity analysis \u00a0
\n\t\t\t\t\tThe table below shows the sensitivity of the liability to changes in key \u00a0
\n\t\t\t\t\tassumptions for the measurement of the pension liabilities, net. The anal- \u00a0
\n\t\t\t\t\tysis is based on the changes in the applied key assumptions considered \u00a0
\n\t\t\t\t\treasonably likely provided the other parameters in the calculation are \u00a0
\n\t\t\t\t\tunchanged. \u00a0
\n\t\t\t\t\tAmounts in EURm \u00a0
\n\t\t\t\t\t2022 \u00a0
\n\t\t\t\t\t2021 \u00a0
\n\t\t\t\t\t+0.5%-point in discount rate \u00a0
\n\t\t\t\t\t-2.2 \u00a0
\n\t\t\t\t\t-3.5 \u00a0
\n\t\t\t\t\t-0.5%-point in discount rate \u00a0
\n\t\t\t\t\t2.5 \u00a0
\n\t\t\t\t\t3.9 \u00a0
Accounting policy \u00a0
\n\t\t\t\t\tThe provisions recognized are Management\u2019s best estimate of the \u00a0
\n\t\t\t\t\tamount required to settle the obligation. Warranty provisions are \u00a0
\n\t\t\t\t\trecognized in connection with the sale of goods and services based on \u00a0
\n\t\t\t\t\tthe level of warranty expenses incurred in previous years. Contingent \u00a0
\n\t\t\t\t\twarranty commitments are recognized in connection with business \u00a0
\n\t\t\t\t\tcombinations. Restructuring costs are recognized under liabilities when \u00a0
\n\t\t\t\t\ta detailed, formal restructuring plan is announced to the affected parties \u00a0
\n\t\t\t\t\ton or before the balance sheet date. A provision for onerous contracts is \u00a0
\n\t\t\t\t\trecognized when the expected benefits to be derived by the Group from \u00a0
\n\t\t\t\t\ta contract are lower than the Group\u2019s unavoidable costs for meeting \u00a0
\n\t\t\t\t\tits contractual obligations. Provisions for dismantling are measured at \u00a0
\n\t\t\t\t\tthe present value of the expected cost at the balance sheet date. The \u00a0
\n\t\t\t\t\tpresent value of the costs is included in the cost of the relevant tangible \u00a0
\n\t\t\t\t\tassets and depreciated accordingly. The addition of interests on provi- \u00a0
\n\t\t\t\t\tsions are recognized in the income statement under financial expenses. \u00a0
\n\t\t\t\t\tFor the Group\u2019s defined benefit plans, an annual actuarial calculation (the \u00a0
\n\t\t\t\t\tProjected Unit Credit Method) of the present value of future benefits pay- \u00a0
\n\t\t\t\t\table under the plan is provided. The present value is determined based \u00a0
\n\t\t\t\t\ton assumptions about the future development in variables such as salary \u00a0
\n\t\t\t\t\tlevels, interest rates, inflation and mortality. The present value is deter- \u00a0
\n\t\t\t\t\tmined only for benefits earned by employees from their employment \u00a0
\n\t\t\t\t\twithin the Group. The actuarial present value less the fair value of any \u00a0
\n\t\t\t\t\tplan assets is recognized in the balance sheet under pension liabilities. \u00a0
\n\t\t\t\t\tPension expenses and other long-term employee benefits are recog- \u00a0
\n\t\t\t\t\tnized in the income statement based on actuarial estimates and financial \u00a0
\n\t\t\t\t\texpectations at the start of the year. Actuarial gains or losses are recog- \u00a0
\n\t\t\t\t\tnized in other comprehensive income. \u00a0
\n\t\t\t\t\tIf a pension plan constitutes a net asset, the asset is only recognized if it \u00a0
\n\t\t\t\t\toffsets cumulative actuarial losses or future refunds from the plan, or if it \u00a0
\n\t\t\t\t\twill lead to reduced future payments to the plan. \u00a0
Development in provision for bad debt \u00a0
\n\t\t\t\t\tAmounts in EURm \u00a0
\n\t\t\t\t\t2022 \u00a0
\n\t\t\t\t\t2021 \u00a0
\n\t\t\t\t\tTrade receivables, gross \u00a0
\n\t\t\t\t\t211.4 \u00a0
\n\t\t\t\t\t215.8 \u00a0
\n\t\t\t\t\tProvision for bad debt \u00a0
\n\t\t\t\t\tProvision for bad debt, 1 January \u00a0
\n\t\t\t\t\t3.2 \u00a0
\n\t\t\t\t\t3.8 \u00a0
\n\t\t\t\t\tAdditions during the year \u00a0
\n\t\t\t\t\t0.6 \u00a0
\n\t\t\t\t\t1.4 \u00a0
\n\t\t\t\t\tReversed during the year \u00a0
\n\t\t\t\t\t-0.6 \u00a0
\n\t\t\t\t\t-1.2 \u00a0
\n\t\t\t\t\tUsed during the year \u00a0
\n\t\t\t\t\t-0.3 \u00a0
\n\t\t\t\t\t-0.9 \u00a0
\n\t\t\t\t\tTransferred to assets held for sale \u00a0
\n\t\t\t\t\t-0.2 \u00a0
\n\t\t\t\t\t0.0 \u00a0
\n\t\t\t\t\tExchange rate adjustments \u00a0
\n\t\t\t\t\t0.0 \u00a0
\n\t\t\t\t\t0.1 \u00a0
\n\t\t\t\t\tProvision for bad debt, 31 December \u00a0
\n\t\t\t\t\t2.7 \u00a0
\n\t\t\t\t\t3.2 \u00a0
\n\t\t\t\t\tTrade receivables, net \u00a0
\n\t\t\t\t\t208.7 \u00a0
\n\t\t\t\t\t212.6 \u00a0
In 2022, credit losses recognized in the income statement count for \u00a0
\n\t\t\t\t\t0.0% of total revenue (0.1% of total revenue in 2021). The expected loss \u00a0
\n\t\t\t\t\trates are updated at every reporting date. \u00a0
",
"dimensions": {
"concept": "ifrs-full:DisclosureOfProvisionsExplanatory",
"language": "en",
"entity": "scheme:529900197LKWCEQ0NL18",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"fact2367": {
"value": "Accounting policy \u00a0
\n\t\t\t\t\tThe provisions recognized are Management\u2019s best estimate of the \u00a0
\n\t\t\t\t\tamount required to settle the obligation. Warranty provisions are \u00a0
\n\t\t\t\t\trecognized in connection with the sale of goods and services based on \u00a0
\n\t\t\t\t\tthe level of warranty expenses incurred in previous years. Contingent \u00a0
\n\t\t\t\t\twarranty commitments are recognized in connection with business \u00a0
\n\t\t\t\t\tcombinations. Restructuring costs are recognized under liabilities when \u00a0
\n\t\t\t\t\ta detailed, formal restructuring plan is announced to the affected parties \u00a0
\n\t\t\t\t\ton or before the balance sheet date. A provision for onerous contracts is \u00a0
\n\t\t\t\t\trecognized when the expected benefits to be derived by the Group from \u00a0
\n\t\t\t\t\ta contract are lower than the Group\u2019s unavoidable costs for meeting \u00a0
\n\t\t\t\t\tits contractual obligations. Provisions for dismantling are measured at \u00a0
\n\t\t\t\t\tthe present value of the expected cost at the balance sheet date. The \u00a0
\n\t\t\t\t\tpresent value of the costs is included in the cost of the relevant tangible \u00a0
\n\t\t\t\t\tassets and depreciated accordingly. The addition of interests on provi- \u00a0
\n\t\t\t\t\tsions are recognized in the income statement under financial expenses. \u00a0
\n\t\t\t\t\tFor the Group\u2019s defined benefit plans, an annual actuarial calculation (the \u00a0
\n\t\t\t\t\tProjected Unit Credit Method) of the present value of future benefits pay- \u00a0
\n\t\t\t\t\table under the plan is provided. The present value is determined based \u00a0
\n\t\t\t\t\ton assumptions about the future development in variables such as salary \u00a0
\n\t\t\t\t\tlevels, interest rates, inflation and mortality. The present value is deter- \u00a0
\n\t\t\t\t\tmined only for benefits earned by employees from their employment \u00a0
\n\t\t\t\t\twithin the Group. The actuarial present value less the fair value of any \u00a0
\n\t\t\t\t\tplan assets is recognized in the balance sheet under pension liabilities. \u00a0
\n\t\t\t\t\tPension expenses and other long-term employee benefits are recog- \u00a0
\n\t\t\t\t\tnized in the income statement based on actuarial estimates and financial \u00a0
\n\t\t\t\t\texpectations at the start of the year. Actuarial gains or losses are recog- \u00a0
\n\t\t\t\t\tnized in other comprehensive income. \u00a0
\n\t\t\t\t\tIf a pension plan constitutes a net asset, the asset is only recognized if it \u00a0
\n\t\t\t\t\toffsets cumulative actuarial losses or future refunds from the plan, or if it \u00a0
\n\t\t\t\t\twill lead to reduced future payments to the plan. \u00a0
",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForProvisionsExplanatory",
"language": "en",
"entity": "scheme:529900197LKWCEQ0NL18",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"fact2368": {
"value": "Section 4 \u2013 Working capital \u00a0
NKT Group\u2019s working capital \u00a0
\n\t\t\t\t\trepresents the assets and liabilities \u00a0
\n\t\t\t\t\tnecessary to support the day-to- \u00a0
\n\t\t\t\t\tday operations. Working capital is \u00a0
\n\t\t\t\t\tdefined as current assets less current \u00a0
\n\t\t\t\t\tliabilities, excluding interest-bearing \u00a0
\n\t\t\t\t\titems and provisions. \u00a0
",
"dimensions": {
"concept": "ifrs-full:DisclosureOfGeneralInformationAboutFinancialStatementsExplanatory",
"language": "en",
"entity": "scheme:529900197LKWCEQ0NL18",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"fact2370": {
"value": "4.1 Changes in working capital in cash flow \u00a0
\n\t\t\t\t\tAmounts in EURm \u00a0
\n\t\t\t\t\t2022 \u00a0
\n\t\t\t\t\t2021 \u00a0
\n\t\t\t\t\tInventory \u00a0
\n\t\t\t\t\t-62.0 \u00a0
\n\t\t\t\t\t-40.7 \u00a0
\n\t\t\t\t\tTrade receivables and other receivables \u00a0
\n\t\t\t\t\t-71.2 \u00a0
\n\t\t\t\t\t-69.3 \u00a0
\n\t\t\t\t\tContract assets and contract liabilities \u00a0
\n\t\t\t\t\t225.2 \u00a0
\n\t\t\t\t\t57.0 \u00a0
\n\t\t\t\t\tTrade payables and other liabilities \u00a0
\n\t\t\t\t\t93.1 \u00a0
\n\t\t\t\t\t99.6 \u00a0
\n\t\t\t\t\tEffect of discontinued operations \u00a0
\n\t\t\t\t\t0.0 \u00a0
\n\t\t\t\t\t4.1 \u00a0
\n\t\t\t\t\tTotal \u00a0
\n\t\t\t\t\t185.1 \u00a0
\n\t\t\t\t\t50.7 \u00a0
\n\t\t\t\t\tThe numbers in the table above cannot be derived directly from the \u00a0
\n\t\t\t\t\tbalance sheet. \u00a0
Amounts in EURm \u00a0
\n\t\t\t\t\t2022 \u00a0
\n\t\t\t\t\t2021 \u00a0
\n\t\t\t\t\tReconciliation to change in working capital in cash flow \u00a0
\n\t\t\t\t\tWorking capital 1 January \u00a0
\n\t\t\t\t\t-59.6 \u00a0
\n\t\t\t\t\t-137.1 \u00a0
\n\t\t\t\t\tReclassification of discontinued operations 1 January \u00a0
\n\t\t\t\t\t-33.6 \u00a0
\n\t\t\t\t\t0
\n\t\t\t\t\tWorking capital 31 December \u00a0
\n\t\t\t\t\t-303.0 \u00a0
\n\t\t\t\t\t-59.6 \u00a0
\n\t\t\t\t\tChange in working capital based on balance sheet \u00a0
\n\t\t\t\t\t-209.8 \u00a0
\n\t\t\t\t\t77.5 \u00a0
\n\t\t\t\t\tEffect of unrealized hedges reported on Equity \u00a0
\n\t\t\t\t\t18.7 \u00a0
\n\t\t\t\t\t-127.3 \u00a0
\n\t\t\t\t\tEffect of discontinued operations \u00a0
\n\t\t\t\t\t0.0 \u00a0
\n\t\t\t\t\t4.1 \u00a0
\n\t\t\t\t\tEffect of changes in current tax \u00a0
\n\t\t\t\t\t4.6 \u00a0
\n\t\t\t\t\t4.2 \u00a0
\n\t\t\t\t\tEffect of changes in exchange rates, etc. \u00a0
\n\t\t\t\t\t1.4 \u00a0
\n\t\t\t\t\t-1.0 \u00a0
\n\t\t\t\t\tChange in working capital based on cash flow statement \u00a0
\n\t\t\t\t\t-185.1 \u00a0
\n\t\t\t\t\t-50.7 \u00a0
",
"dimensions": {
"concept": "ifrs-full:DisclosureOfCashFlowStatementExplanatory",
"language": "en",
"entity": "scheme:529900197LKWCEQ0NL18",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"fact2372": {
"value": "Amounts in EURm \u00a0
\n\t\t\t\t\t2022 \u00a0
\n\t\t\t\t\t2021 \u00a0
\n\t\t\t\t\tReconciliation to change in working capital in cash flow \u00a0
\n\t\t\t\t\tWorking capital 1 January \u00a0
\n\t\t\t\t\t-59.6 \u00a0
\n\t\t\t\t\t-137.1 \u00a0
\n\t\t\t\t\tReclassification of discontinued operations 1 January \u00a0
\n\t\t\t\t\t-33.6 \u00a0
\n\t\t\t\t\t0
\n\t\t\t\t\tWorking capital 31 December \u00a0
\n\t\t\t\t\t-303.0 \u00a0
\n\t\t\t\t\t-59.6 \u00a0
\n\t\t\t\t\tChange in working capital based on balance sheet \u00a0
\n\t\t\t\t\t-209.8 \u00a0
\n\t\t\t\t\t77.5 \u00a0
\n\t\t\t\t\tEffect of unrealized hedges reported on Equity \u00a0
\n\t\t\t\t\t18.7 \u00a0
\n\t\t\t\t\t-127.3 \u00a0
\n\t\t\t\t\tEffect of discontinued operations \u00a0
\n\t\t\t\t\t0.0 \u00a0
\n\t\t\t\t\t4.1 \u00a0
\n\t\t\t\t\tEffect of changes in current tax \u00a0
\n\t\t\t\t\t4.6 \u00a0
\n\t\t\t\t\t4.2 \u00a0
\n\t\t\t\t\tEffect of changes in exchange rates, etc. \u00a0
\n\t\t\t\t\t1.4 \u00a0
\n\t\t\t\t\t-1.0 \u00a0
\n\t\t\t\t\tChange in working capital based on cash flow statement \u00a0
\n\t\t\t\t\t-185.1 \u00a0
\n\t\t\t\t\t-50.7 \u00a0
4.2 Inventories \u00a0
\n\t\t\t\t\tAmounts in EURm \u00a0
\n\t\t\t\t\t2022 \u00a0
\n\t\t\t\t\t2021 \u00a0
\n\t\t\t\t\tRaw materials, consumables \u00a0
\n\t\t\t\t\tand goods for resale \u00a0
\n\t\t\t\t\t154.5 \u00a0
\n\t\t\t\t\t127.9 \u00a0
\n\t\t\t\t\tWork in progress \u00a0
\n\t\t\t\t\t73.2 \u00a0
\n\t\t\t\t\t69.7 \u00a0
\n\t\t\t\t\tFinished goods \u00a0
\n\t\t\t\t\t107.2 \u00a0
\n\t\t\t\t\t89.8 \u00a0
\n\t\t\t\t\tInventories, 31 December \u00a0
\n\t\t\t\t\t334.9 \u00a0
\n\t\t\t\t\t287.4 \u00a0
\n\t\t\t\t\tWrite-down of inventories, 1 January \u00a0
\n\t\t\t\t\t17.0 \u00a0
\n\t\t\t\t\t21.8 \u00a0
\n\t\t\t\t\tWrite-down of inventories for the year \u00a0
\n\t\t\t\t\t1.0 \u00a0
\n\t\t\t\t\t3.0 \u00a0
\n\t\t\t\t\tDisposals from sales \u00a0
\n\t\t\t\t\t0.0 \u00a0
\n\t\t\t\t\t-1.6 \u00a0
\n\t\t\t\t\tScrapping \u00a0
\n\t\t\t\t\t-7.1 \u00a0
\n\t\t\t\t\t-6.2 \u00a0
\n\t\t\t\t\tTransfer to assets held for sale \u00a0
\n\t\t\t\t\t-3.5 \u00a0
\n\t\t\t\t\t0
\n\t\t\t\t\tWrite-down of inventories, 31 December \u00a0
\n\t\t\t\t\t7.4 \u00a0
\n\t\t\t\t\t17.0 \u00a0
Accounting policy \u00a0
\n\t\t\t\t\tInventories are measured at cost in accordance with \u00a0
\n\t\t\t\t\tthe FIFO method or at a weighted average. If the net \u00a0
\n\t\t\t\t\trealizable value is lower than cost, inventories are \u00a0
\n\t\t\t\t\twritten down to this lower value. \u00a0
\n\t\t\t\t\tRaw materials, consumables and goods for resale \u00a0
\n\t\t\t\t\tare measured at cost, comprising purchase price \u00a0
\n\t\t\t\t\tplus delivery costs. \u00a0
\n\t\t\t\t\tFinished goods and work in progress are measured \u00a0
\n\t\t\t\t\tat cost, comprising direct costs and production \u00a0
\n\t\t\t\t\toverheads. \u00a0
",
"dimensions": {
"concept": "ifrs-full:DisclosureOfInventoriesExplanatory",
"language": "en",
"entity": "scheme:529900197LKWCEQ0NL18",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"fact2375": {
"value": "4.3 Receivables \u00a0
\n\t\t\t\t\tIn NKT Group, receivables comprise trade and other receivables from ex- \u00a0
\n\t\t\t\t\tternal companies, other receivables from derivative financial instruments \u00a0
\n\t\t\t\t\tand prepayments. Receivables are measured at amortized cost, which in \u00a0
\n\t\t\t\t\tall material respects corresponds to fair value and nominal value. \u00a0
\n\t\t\t\t\tAmounts in EURm \u00a0
\n\t\t\t\t\t2022 \u00a0
\n\t\t\t\t\t2021 \u00a0
\n\t\t\t\t\tTrade receivables \u00a0
\n\t\t\t\t\t208.7 \u00a0
\n\t\t\t\t\t212.6 \u00a0
\n\t\t\t\t\tOther receivables incl. derivatives \u00a0
\n\t\t\t\t\t283.1 \u00a0
\n\t\t\t\t\t266.7 \u00a0
\n\t\t\t\t\tPrepayments \u00a0
\n\t\t\t\t\t30.7 \u00a0
\n\t\t\t\t\t49.6 \u00a0
\n\t\t\t\t\tReceivables \u00a0
\n\t\t\t\t\t522.5 \u00a0
\n\t\t\t\t\t528.9 \u00a0
\n\t\t\t\t\tOf the receivables, EUR 0.1m are expected to be received later than 12 \u00a0
\n\t\t\t\t\tmonths (EUR 1.3m in 2021). \u00a0
Impairment on trade receivables amounted to 1% of trade receivables \u00a0
\n\t\t\t\t\tunchanged from 1% in 2021. For further information on credit risks, \u00a0
\n\t\t\t\t\tplease see Section 5.6. \u00a0
Development in provision for bad debt \u00a0
\n\t\t\t\t\tAmounts in EURm \u00a0
\n\t\t\t\t\t2022 \u00a0
\n\t\t\t\t\t2021 \u00a0
\n\t\t\t\t\tTrade receivables, gross \u00a0
\n\t\t\t\t\t211.4 \u00a0
\n\t\t\t\t\t215.8 \u00a0
\n\t\t\t\t\tProvision for bad debt \u00a0
\n\t\t\t\t\tProvision for bad debt, 1 January \u00a0
\n\t\t\t\t\t3.2 \u00a0
\n\t\t\t\t\t3.8 \u00a0
\n\t\t\t\t\tAdditions during the year \u00a0
\n\t\t\t\t\t0.6 \u00a0
\n\t\t\t\t\t1.4 \u00a0
\n\t\t\t\t\tReversed during the year \u00a0
\n\t\t\t\t\t-0.6 \u00a0
\n\t\t\t\t\t-1.2 \u00a0
\n\t\t\t\t\tUsed during the year \u00a0
\n\t\t\t\t\t-0.3 \u00a0
\n\t\t\t\t\t-0.9 \u00a0
\n\t\t\t\t\tTransferred to assets held for sale \u00a0
\n\t\t\t\t\t-0.2 \u00a0
\n\t\t\t\t\t0.0 \u00a0
\n\t\t\t\t\tExchange rate adjustments \u00a0
\n\t\t\t\t\t0.0 \u00a0
\n\t\t\t\t\t0.1 \u00a0
\n\t\t\t\t\tProvision for bad debt, 31 December \u00a0
\n\t\t\t\t\t2.7 \u00a0
\n\t\t\t\t\t3.2 \u00a0
\n\t\t\t\t\tTrade receivables, net \u00a0
\n\t\t\t\t\t208.7 \u00a0
\n\t\t\t\t\t212.6 \u00a0
In 2022, credit losses recognized in the income statement count for \u00a0
\n\t\t\t\t\t0.0% of total revenue (0.1% of total revenue in 2021). The expected loss \u00a0
\n\t\t\t\t\trates are updated at every reporting date. \u00a0
Accounting policy \u00a0
\n\t\t\t\t\tTrade receivables are at initial recognition measured at their transaction \u00a0
\n\t\t\t\t\tprice less allowance for expected credit losses over the lifetime and are \u00a0
\n\t\t\t\t\tsubsequently measured at amortized cost adjusted for changes to the \u00a0
\n\t\t\t\t\texpected credit losses. Expected credit losses at initial recognition are \u00a0
\n\t\t\t\t\tcalculated for portfolios of receivables that share credit risk characteris- \u00a0
\n\t\t\t\t\ttics and is based on historical experience and, when applicable, adjusted \u00a0
\n\t\t\t\t\tfor factors that are specific to the debtors and general economic con- \u00a0
\n\t\t\t\t\tditions. The portfolios are primarily based on the debtor\u2019s domicile and \u00a0
\n\t\t\t\t\tcredit rating in accordance with NKT Groups credit risk management \u00a0
\n\t\t\t\t\tpolicy, see Section 5.6. \u00a0
\n\t\t\t\t\tWhen there is an indication of impairment, expected credit losses are \u00a0
\n\t\t\t\t\tcalculated at individual level and when there are no reasonable expecta- \u00a0
\n\t\t\t\t\ttions of recovering, the receivable is written off in part or entirely. \u00a0
\n\t\t\t\t\tThe allowances for expected credit losses and write-offs for trade receiv- \u00a0
\n\t\t\t\t\tables are recognized in the income statement as Other costs. \u00a0
4.4 Contract assets and liabilities \u00a0
\n\t\t\t\t\tContract assets comprise the sales value of work performed on con- \u00a0
\n\t\t\t\t\tstruction contracts, where NKT Group does not yet possess an uncon- \u00a0
\n\t\t\t\t\tditional right to payment, as the work performed has not been approved \u00a0
\n\t\t\t\t\tby the customer. Contract liabilities comprise contractual unconditional \u00a0
\n\t\t\t\t\tinvoicing for work not yet performed. \u00a0
\n\t\t\t\t\tAmounts in EURm \u00a0
\n\t\t\t\t\t2022 \u00a0
\n\t\t\t\t\t2021 \u00a0
\n\t\t\t\t\tConstruction contracts \u00a0
\n\t\t\t\t\tContract value of work in progress \u00a0
\n\t\t\t\t\t1,614.3 \u00a0
\n\t\t\t\t\t1,859.9 \u00a0
\n\t\t\t\t\tProgress billing \u00a0
\n\t\t\t\t\t-2,155.4 \u00a0
\n\t\t\t\t\t-2,156.9 \u00a0
\n\t\t\t\t\t-541.1 \u00a0
\n\t\t\t\t\t-297.0 \u00a0
\n\t\t\t\t\tRecognized as contract assets \u00a0
\n\t\t\t\t\t98.2 \u00a0
\n\t\t\t\t\t97.3 \u00a0
\n\t\t\t\t\tRecognized as contract liabilities \u00a0
\n\t\t\t\t\t-639.3 \u00a0
\n\t\t\t\t\t-394.3 \u00a0
\n\t\t\t\t\t-541.1 \u00a0
\n\t\t\t\t\t-297.0 \u00a0
\n\t\t\t\t\tConstruction contracts \u00a0
\n\t\t\t\t\t639.3 \u00a0
\n\t\t\t\t\t394.3 \u00a0
\n\t\t\t\t\tPrepayments for construction contracts \u00a0
\n\t\t\t\t\t19.9 \u00a0
\n\t\t\t\t\t27.0 \u00a0
\n\t\t\t\t\tOther prepayments from customers \u00a0
\n\t\t\t\t\t18.4 \u00a0
\n\t\t\t\t\t38.0 \u00a0
\n\t\t\t\t\tTotal contract liabilities \u00a0
\n\t\t\t\t\t677.6 \u00a0
\n\t\t\t\t\t459.3 \u00a0
Amounts in EURm \u00a0
\n\t\t\t\t\t2022 \u00a0
\n\t\t\t\t\t2021 \u00a0
\n\t\t\t\t\tContract assets, 1 January \u00a0
\n\t\t\t\t\t97.3 \u00a0
\n\t\t\t\t\t21.3 \u00a0
\n\t\t\t\t\tAddition from revenue recognized \u00a0
\n\t\t\t\t\t40.1 \u00a0
\n\t\t\t\t\t85.6 \u00a0
\n\t\t\t\t\tTransferred to receivables \u00a0
\n\t\t\t\t\t-30.5 \u00a0
\n\t\t\t\t\t-13.0 \u00a0
\n\t\t\t\t\tTransferred to assets held for sale \u00a0
\n\t\t\t\t\t-2.1 \u00a0
\n\t\t\t\t\t0.0 \u00a0
\n\t\t\t\t\tExchange rate adjustments \u00a0
\n\t\t\t\t\t-6.6 \u00a0
\n\t\t\t\t\t3.4 \u00a0
\n\t\t\t\t\tContract assets, 31 December \u00a0
\n\t\t\t\t\t98.2 \u00a0
\n\t\t\t\t\t97.3 \u00a0
\n\t\t\t\t\tContract liabilities, 1 January \u00a0
\n\t\t\t\t\t459.3 \u00a0
\n\t\t\t\t\t296.5 \u00a0
\n\t\t\t\t\tDecrease from revenue recognized \u00a0
\n\t\t\t\t\t-331.7 \u00a0
\n\t\t\t\t\t-179.2 \u00a0
\n\t\t\t\t\tPrepayments received \u00a0
\n\t\t\t\t\t562.3 \u00a0
\n\t\t\t\t\t344.6 \u00a0
\n\t\t\t\t\tTransferred to assets held for sale \u00a0
\n\t\t\t\t\t-0.5 \u00a0
\n\t\t\t\t\t0.0 \u00a0
\n\t\t\t\t\tExchange rate adjustments \u00a0
\n\t\t\t\t\t-11.8 \u00a0
\n\t\t\t\t\t-2.6 \u00a0
\n\t\t\t\t\tContract liabilities, 31 December \u00a0
\n\t\t\t\t\t677.6 \u00a0
\n\t\t\t\t\t459.3 \u00a0
\n\t\t\t\t\tExpected recognition of revenue: \u00a0
\n\t\t\t\t\tWithin 1 year \u00a0
\n\t\t\t\t\t468.4 \u00a0
\n\t\t\t\t\t281.0 \u00a0
\n\t\t\t\t\tWithin 1-5 years \u00a0
\n\t\t\t\t\t209.2 \u00a0
\n\t\t\t\t\t178.3 \u00a0
\n\t\t\t\t\tAfter 5 years \u00a0
\n\t\t\t\t\t0.0 \u00a0
\n\t\t\t\t\t0.0 \u00a0
\n\t\t\t\t\t677.6 \u00a0
\n\t\t\t\t\t459.3 \u00a0
",
"dimensions": {
"concept": "ifrs-full:DisclosureOfTradeAndOtherReceivablesExplanatory",
"language": "en",
"entity": "scheme:529900197LKWCEQ0NL18",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"fact2382": {
"value": "Development in provision for bad debt \u00a0
\n\t\t\t\t\tAmounts in EURm \u00a0
\n\t\t\t\t\t2022 \u00a0
\n\t\t\t\t\t2021 \u00a0
\n\t\t\t\t\tTrade receivables, gross \u00a0
\n\t\t\t\t\t211.4 \u00a0
\n\t\t\t\t\t215.8 \u00a0
\n\t\t\t\t\tProvision for bad debt \u00a0
\n\t\t\t\t\tProvision for bad debt, 1 January \u00a0
\n\t\t\t\t\t3.2 \u00a0
\n\t\t\t\t\t3.8 \u00a0
\n\t\t\t\t\tAdditions during the year \u00a0
\n\t\t\t\t\t0.6 \u00a0
\n\t\t\t\t\t1.4 \u00a0
\n\t\t\t\t\tReversed during the year \u00a0
\n\t\t\t\t\t-0.6 \u00a0
\n\t\t\t\t\t-1.2 \u00a0
\n\t\t\t\t\tUsed during the year \u00a0
\n\t\t\t\t\t-0.3 \u00a0
\n\t\t\t\t\t-0.9 \u00a0
\n\t\t\t\t\tTransferred to assets held for sale \u00a0
\n\t\t\t\t\t-0.2 \u00a0
\n\t\t\t\t\t0.0 \u00a0
\n\t\t\t\t\tExchange rate adjustments \u00a0
\n\t\t\t\t\t0.0 \u00a0
\n\t\t\t\t\t0.1 \u00a0
\n\t\t\t\t\tProvision for bad debt, 31 December \u00a0
\n\t\t\t\t\t2.7 \u00a0
\n\t\t\t\t\t3.2 \u00a0
\n\t\t\t\t\tTrade receivables, net \u00a0
\n\t\t\t\t\t208.7 \u00a0
\n\t\t\t\t\t212.6 \u00a0
In 2022, credit losses recognized in the income statement count for \u00a0
\n\t\t\t\t\t0.0% of total revenue (0.1% of total revenue in 2021). The expected loss \u00a0
\n\t\t\t\t\trates are updated at every reporting date. \u00a0
Credit risks \u00a0
\n\t\t\t\t\tNKT\u2019s credit risks relate partly to receivables, contract assets and cash \u00a0
\n\t\t\t\t\tat bank and in hand, and partly to derivative financial instruments with \u00a0
\n\t\t\t\t\tpositive fair value. The maximum credit risk attached to financial assets \u00a0
\n\t\t\t\t\tcorrespond to the values recognized in the balance sheet. \u00a0
\n\t\t\t\t\tNKT has no material risks relating to a single customer or partner. NKT\u2019s \u00a0
\n\t\t\t\t\tpolicy for acceptance of credit risks entails ongoing monitoring and credit \u00a0
\n\t\t\t\t\trating of important customers and other partners. NKT obtains prepay- \u00a0
\n\t\t\t\t\tments or bank guarantees from customers, when considered needed. \u00a0
\n\t\t\t\t\tThus, insurance cover and similar measures to hedge receivables are \u00a0
\n\t\t\t\t\trarely applied as NKT historically has had only few material losses. \u00a0
",
"dimensions": {
"concept": "ifrs-full:DisclosureOfCreditRiskExplanatory",
"language": "en",
"entity": "scheme:529900197LKWCEQ0NL18",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"fact2385": {
"value": "Accounting policy \u00a0
\n\t\t\t\t\tTrade receivables are at initial recognition measured at their transaction \u00a0
\n\t\t\t\t\tprice less allowance for expected credit losses over the lifetime and are \u00a0
\n\t\t\t\t\tsubsequently measured at amortized cost adjusted for changes to the \u00a0
\n\t\t\t\t\texpected credit losses. Expected credit losses at initial recognition are \u00a0
\n\t\t\t\t\tcalculated for portfolios of receivables that share credit risk characteris- \u00a0
\n\t\t\t\t\ttics and is based on historical experience and, when applicable, adjusted \u00a0
\n\t\t\t\t\tfor factors that are specific to the debtors and general economic con- \u00a0
\n\t\t\t\t\tditions. The portfolios are primarily based on the debtor\u2019s domicile and \u00a0
\n\t\t\t\t\tcredit rating in accordance with NKT Groups credit risk management \u00a0
\n\t\t\t\t\tpolicy, see Section 5.6. \u00a0
\n\t\t\t\t\tWhen there is an indication of impairment, expected credit losses are \u00a0
\n\t\t\t\t\tcalculated at individual level and when there are no reasonable expecta- \u00a0
\n\t\t\t\t\ttions of recovering, the receivable is written off in part or entirely. \u00a0
\n\t\t\t\t\tThe allowances for expected credit losses and write-offs for trade receiv- \u00a0
\n\t\t\t\t\tables are recognized in the income statement as Other costs. \u00a0
",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForTradeAndOtherReceivablesExplanatory",
"language": "en",
"entity": "scheme:529900197LKWCEQ0NL18",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"fact2386": {
"value": "4.4 Contract assets and liabilities \u00a0
\n\t\t\t\t\tContract assets comprise the sales value of work performed on con- \u00a0
\n\t\t\t\t\tstruction contracts, where NKT Group does not yet possess an uncon- \u00a0
\n\t\t\t\t\tditional right to payment, as the work performed has not been approved \u00a0
\n\t\t\t\t\tby the customer. Contract liabilities comprise contractual unconditional \u00a0
\n\t\t\t\t\tinvoicing for work not yet performed. \u00a0
\n\t\t\t\t\tAmounts in EURm \u00a0
\n\t\t\t\t\t2022 \u00a0
\n\t\t\t\t\t2021 \u00a0
\n\t\t\t\t\tConstruction contracts \u00a0
\n\t\t\t\t\tContract value of work in progress \u00a0
\n\t\t\t\t\t1,614.3 \u00a0
\n\t\t\t\t\t1,859.9 \u00a0
\n\t\t\t\t\tProgress billing \u00a0
\n\t\t\t\t\t-2,155.4 \u00a0
\n\t\t\t\t\t-2,156.9 \u00a0
\n\t\t\t\t\t-541.1 \u00a0
\n\t\t\t\t\t-297.0 \u00a0
\n\t\t\t\t\tRecognized as contract assets \u00a0
\n\t\t\t\t\t98.2 \u00a0
\n\t\t\t\t\t97.3 \u00a0
\n\t\t\t\t\tRecognized as contract liabilities \u00a0
\n\t\t\t\t\t-639.3 \u00a0
\n\t\t\t\t\t-394.3 \u00a0
\n\t\t\t\t\t-541.1 \u00a0
\n\t\t\t\t\t-297.0 \u00a0
\n\t\t\t\t\tConstruction contracts \u00a0
\n\t\t\t\t\t639.3 \u00a0
\n\t\t\t\t\t394.3 \u00a0
\n\t\t\t\t\tPrepayments for construction contracts \u00a0
\n\t\t\t\t\t19.9 \u00a0
\n\t\t\t\t\t27.0 \u00a0
\n\t\t\t\t\tOther prepayments from customers \u00a0
\n\t\t\t\t\t18.4 \u00a0
\n\t\t\t\t\t38.0 \u00a0
\n\t\t\t\t\tTotal contract liabilities \u00a0
\n\t\t\t\t\t677.6 \u00a0
\n\t\t\t\t\t459.3 \u00a0
Amounts in EURm \u00a0
\n\t\t\t\t\t2022 \u00a0
\n\t\t\t\t\t2021 \u00a0
\n\t\t\t\t\tContract assets, 1 January \u00a0
\n\t\t\t\t\t97.3 \u00a0
\n\t\t\t\t\t21.3 \u00a0
\n\t\t\t\t\tAddition from revenue recognized \u00a0
\n\t\t\t\t\t40.1 \u00a0
\n\t\t\t\t\t85.6 \u00a0
\n\t\t\t\t\tTransferred to receivables \u00a0
\n\t\t\t\t\t-30.5 \u00a0
\n\t\t\t\t\t-13.0 \u00a0
\n\t\t\t\t\tTransferred to assets held for sale \u00a0
\n\t\t\t\t\t-2.1 \u00a0
\n\t\t\t\t\t0.0 \u00a0
\n\t\t\t\t\tExchange rate adjustments \u00a0
\n\t\t\t\t\t-6.6 \u00a0
\n\t\t\t\t\t3.4 \u00a0
\n\t\t\t\t\tContract assets, 31 December \u00a0
\n\t\t\t\t\t98.2 \u00a0
\n\t\t\t\t\t97.3 \u00a0
\n\t\t\t\t\tContract liabilities, 1 January \u00a0
\n\t\t\t\t\t459.3 \u00a0
\n\t\t\t\t\t296.5 \u00a0
\n\t\t\t\t\tDecrease from revenue recognized \u00a0
\n\t\t\t\t\t-331.7 \u00a0
\n\t\t\t\t\t-179.2 \u00a0
\n\t\t\t\t\tPrepayments received \u00a0
\n\t\t\t\t\t562.3 \u00a0
\n\t\t\t\t\t344.6 \u00a0
\n\t\t\t\t\tTransferred to assets held for sale \u00a0
\n\t\t\t\t\t-0.5 \u00a0
\n\t\t\t\t\t0.0 \u00a0
\n\t\t\t\t\tExchange rate adjustments \u00a0
\n\t\t\t\t\t-11.8 \u00a0
\n\t\t\t\t\t-2.6 \u00a0
\n\t\t\t\t\tContract liabilities, 31 December \u00a0
\n\t\t\t\t\t677.6 \u00a0
\n\t\t\t\t\t459.3 \u00a0
\n\t\t\t\t\tExpected recognition of revenue: \u00a0
\n\t\t\t\t\tWithin 1 year \u00a0
\n\t\t\t\t\t468.4 \u00a0
\n\t\t\t\t\t281.0 \u00a0
\n\t\t\t\t\tWithin 1-5 years \u00a0
\n\t\t\t\t\t209.2 \u00a0
\n\t\t\t\t\t178.3 \u00a0
\n\t\t\t\t\tAfter 5 years \u00a0
\n\t\t\t\t\t0.0 \u00a0
\n\t\t\t\t\t0.0 \u00a0
\n\t\t\t\t\t677.6 \u00a0
\n\t\t\t\t\t459.3 \u00a0
Significant estimates \u00a0
\n\t\t\t\t\tConstruction contracts are measured based on Management\u2019s judge- \u00a0
\n\t\t\t\t\tment in terms of stage-of-completion and estimated profit on a project- \u00a0
\n\t\t\t\t\tby-project approach to estimate the expected selling prices which affect \u00a0
\n\t\t\t\t\tthe value recognized in the balance sheet. The estimate includes a risk \u00a0
provision, which is based on an assessment of the specific risk that each \u00a0
\n\t\t\t\t\tproject is exposed to. Therefore, the recognition of revenue and related \u00a0
\n\t\t\t\t\tcontract assets and liabilities are subject to uncertainty. Management\u2019s \u00a0
\n\t\t\t\t\testimates are based on the most likely outcomes of the projects. \u00a0
",
"dimensions": {
"concept": "ifrs-full:DisclosureOfCommitmentsExplanatory",
"language": "en",
"entity": "scheme:529900197LKWCEQ0NL18",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"fact2390": {
"value": "4.4 Contract assets and liabilities \u00a0
\n\t\t\t\t\tContract assets comprise the sales value of work performed on con- \u00a0
\n\t\t\t\t\tstruction contracts, where NKT Group does not yet possess an uncon- \u00a0
\n\t\t\t\t\tditional right to payment, as the work performed has not been approved \u00a0
\n\t\t\t\t\tby the customer. Contract liabilities comprise contractual unconditional \u00a0
\n\t\t\t\t\tinvoicing for work not yet performed. \u00a0
\n\t\t\t\t\tAmounts in EURm \u00a0
\n\t\t\t\t\t2022 \u00a0
\n\t\t\t\t\t2021 \u00a0
\n\t\t\t\t\tConstruction contracts \u00a0
\n\t\t\t\t\tContract value of work in progress \u00a0
\n\t\t\t\t\t1,614.3 \u00a0
\n\t\t\t\t\t1,859.9 \u00a0
\n\t\t\t\t\tProgress billing \u00a0
\n\t\t\t\t\t-2,155.4 \u00a0
\n\t\t\t\t\t-2,156.9 \u00a0
\n\t\t\t\t\t-541.1 \u00a0
\n\t\t\t\t\t-297.0 \u00a0
\n\t\t\t\t\tRecognized as contract assets \u00a0
\n\t\t\t\t\t98.2 \u00a0
\n\t\t\t\t\t97.3 \u00a0
\n\t\t\t\t\tRecognized as contract liabilities \u00a0
\n\t\t\t\t\t-639.3 \u00a0
\n\t\t\t\t\t-394.3 \u00a0
\n\t\t\t\t\t-541.1 \u00a0
\n\t\t\t\t\t-297.0 \u00a0
\n\t\t\t\t\tConstruction contracts \u00a0
\n\t\t\t\t\t639.3 \u00a0
\n\t\t\t\t\t394.3 \u00a0
\n\t\t\t\t\tPrepayments for construction contracts \u00a0
\n\t\t\t\t\t19.9 \u00a0
\n\t\t\t\t\t27.0 \u00a0
\n\t\t\t\t\tOther prepayments from customers \u00a0
\n\t\t\t\t\t18.4 \u00a0
\n\t\t\t\t\t38.0 \u00a0
\n\t\t\t\t\tTotal contract liabilities \u00a0
\n\t\t\t\t\t677.6 \u00a0
\n\t\t\t\t\t459.3 \u00a0
Amounts in EURm \u00a0
\n\t\t\t\t\t2022 \u00a0
\n\t\t\t\t\t2021 \u00a0
\n\t\t\t\t\tContract assets, 1 January \u00a0
\n\t\t\t\t\t97.3 \u00a0
\n\t\t\t\t\t21.3 \u00a0
\n\t\t\t\t\tAddition from revenue recognized \u00a0
\n\t\t\t\t\t40.1 \u00a0
\n\t\t\t\t\t85.6 \u00a0
\n\t\t\t\t\tTransferred to receivables \u00a0
\n\t\t\t\t\t-30.5 \u00a0
\n\t\t\t\t\t-13.0 \u00a0
\n\t\t\t\t\tTransferred to assets held for sale \u00a0
\n\t\t\t\t\t-2.1 \u00a0
\n\t\t\t\t\t0.0 \u00a0
\n\t\t\t\t\tExchange rate adjustments \u00a0
\n\t\t\t\t\t-6.6 \u00a0
\n\t\t\t\t\t3.4 \u00a0
\n\t\t\t\t\tContract assets, 31 December \u00a0
\n\t\t\t\t\t98.2 \u00a0
\n\t\t\t\t\t97.3 \u00a0
\n\t\t\t\t\tContract liabilities, 1 January \u00a0
\n\t\t\t\t\t459.3 \u00a0
\n\t\t\t\t\t296.5 \u00a0
\n\t\t\t\t\tDecrease from revenue recognized \u00a0
\n\t\t\t\t\t-331.7 \u00a0
\n\t\t\t\t\t-179.2 \u00a0
\n\t\t\t\t\tPrepayments received \u00a0
\n\t\t\t\t\t562.3 \u00a0
\n\t\t\t\t\t344.6 \u00a0
\n\t\t\t\t\tTransferred to assets held for sale \u00a0
\n\t\t\t\t\t-0.5 \u00a0
\n\t\t\t\t\t0.0 \u00a0
\n\t\t\t\t\tExchange rate adjustments \u00a0
\n\t\t\t\t\t-11.8 \u00a0
\n\t\t\t\t\t-2.6 \u00a0
\n\t\t\t\t\tContract liabilities, 31 December \u00a0
\n\t\t\t\t\t677.6 \u00a0
\n\t\t\t\t\t459.3 \u00a0
\n\t\t\t\t\tExpected recognition of revenue: \u00a0
\n\t\t\t\t\tWithin 1 year \u00a0
\n\t\t\t\t\t468.4 \u00a0
\n\t\t\t\t\t281.0 \u00a0
\n\t\t\t\t\tWithin 1-5 years \u00a0
\n\t\t\t\t\t209.2 \u00a0
\n\t\t\t\t\t178.3 \u00a0
\n\t\t\t\t\tAfter 5 years \u00a0
\n\t\t\t\t\t0.0 \u00a0
\n\t\t\t\t\t0.0 \u00a0
\n\t\t\t\t\t677.6 \u00a0
\n\t\t\t\t\t459.3 \u00a0
Changes in current loans, non-current loans and lease liabilities \u00a0
\n\t\t\t\t\tLess than \u00a0
\n\t\t\t\t\tMore than \u00a0
\n\t\t\t\t\tAmounts in EURm \u00a0
\n\t\t\t\t\t1 year \u00a0
\n\t\t\t\t\t1-3 years \u00a0
\n\t\t\t\t\t3-5 years \u00a0
\n\t\t\t\t\t5 years \u00a0
\n\t\t\t\t\tTotal \u00a0
\n\t\t\t\t\t2022 \u00a0
\n\t\t\t\t\tInterest-bearing loans and borrowings1 \u00a0
\n\t\t\t\t\t14.9 \u00a0
\n\t\t\t\t\t35.6 \u00a0
\n\t\t\t\t\t24.1 \u00a0
\n\t\t\t\t\t121.2 \u00a0
\n\t\t\t\t\t195.8 \u00a0
\n\t\t\t\t\tHereof leasing liabilities \u00a0
\n\t\t\t\t\t5.5 \u00a0
\n\t\t\t\t\t8.0 \u00a0
\n\t\t\t\t\t6.0 \u00a0
\n\t\t\t\t\t18.1 \u00a0
\n\t\t\t\t\t37.6 \u00a0
\n\t\t\t\t\tTrade payables \u00a0
\n\t\t\t\t\t351.0 \u00a0
\n\t\t\t\t\t351.0 \u00a0
\n\t\t\t\t\tPrepayments \u00a0
\n\t\t\t\t\t18.4 \u00a0
\n\t\t\t\t\t18.4 \u00a0
\n\t\t\t\t\tDerivative Financial liabilities \u00a0
\n\t\t\t\t\t76.6 \u00a0
\n\t\t\t\t\t76.6 \u00a0
\n\t\t\t\t\tOther payables \u00a0
\n\t\t\t\t\t147.1 \u00a0
\n\t\t\t\t\t147.1 \u00a0
\n\t\t\t\t\tTotal \u00a0
\n\t\t\t\t\t608.0 \u00a0
\n\t\t\t\t\t35.6 \u00a0
\n\t\t\t\t\t24.1 \u00a0
\n\t\t\t\t\t121.2 \u00a0
\n\t\t\t\t\t788.9 \u00a0
\n\t\t\t\t\t2021 \u00a0
\n\t\t\t\t\tInterest-bearing loans and borrowings1 \u00a0
\n\t\t\t\t\t17.5 \u00a0
\n\t\t\t\t\t39.0 \u00a0
\n\t\t\t\t\t36.6 \u00a0
\n\t\t\t\t\t120.8 \u00a0
\n\t\t\t\t\t213.9 \u00a0
\n\t\t\t\t\tHereof leasing liabilities \u00a0
\n\t\t\t\t\t7.7 \u00a0
\n\t\t\t\t\t12.3 \u00a0
\n\t\t\t\t\t7.9 \u00a0
\n\t\t\t\t\t22.3 \u00a0
\n\t\t\t\t\t50.2 \u00a0
\n\t\t\t\t\tTrade payables \u00a0
\n\t\t\t\t\t341.8 \u00a0
\n\t\t\t\t\t341.8 \u00a0
\n\t\t\t\t\tPrepayments \u00a0
\n\t\t\t\t\t7.8 \u00a0
\n\t\t\t\t\t7.8 \u00a0
\n\t\t\t\t\tDerivative Financial liabilities \u00a0
\n\t\t\t\t\t14.6 \u00a0
\n\t\t\t\t\t14.6 \u00a0
\n\t\t\t\t\tOther payables \u00a0
\n\t\t\t\t\t155.8 \u00a0
\n\t\t\t\t\t155.8 \u00a0
\n\t\t\t\t\tTotal \u00a0
\n\t\t\t\t\t537.5 \u00a0
\n\t\t\t\t\t39.0 \u00a0
\n\t\t\t\t\t36.6 \u00a0
\n\t\t\t\t\t120.8 \u00a0
\n\t\t\t\t\t733.9 \u00a0
\n\t\t\t\t\t1
\n\t\t\t\t\tInterest-bearing loans and borrowings include leasing liabilities recognized in the balance sheet, but not short-term and low-value leases. These are specified in note 3.2. \u00a0
",
"dimensions": {
"concept": "ifrs-full:DisclosureOfTradeAndOtherPayablesExplanatory",
"language": "en",
"entity": "scheme:529900197LKWCEQ0NL18",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"fact2393": {
"value": "Accounting policy \u00a0
\n\t\t\t\t\tConstruction contracts \u00a0
\n\t\t\t\t\tConstruction contracts are measured at the selling price of the work \u00a0
\n\t\t\t\t\tperformed less progress billings and anticipated losses. If the value of \u00a0
\n\t\t\t\t\twork performed exceeds progress billings, the excess is recognized as \u00a0
\n\t\t\t\t\tcontract assets. and if progress billings exceed the value of work per- \u00a0
\n\t\t\t\t\tformed, the deficit is recognized as contract liabilities. Prepayments from \u00a0
\n\t\t\t\t\tcustomers are recognized under contract liabilities. \u00a0
\n\t\t\t\t\tConstruction contracts are characterized by a high degree of customiza- \u00a0
\n\t\t\t\t\ttion in the design of the cables produced. It is furthermore a requirement \u00a0
\n\t\t\t\t\tthat before commencement of the work, a binding contract is signed that \u00a0
\n\t\t\t\t\twill result in a fine or compensation in case of subsequent cancellation. \u00a0
\n\t\t\t\t\tThe contract value is measured according to the stage-of-completion, \u00a0
\n\t\t\t\t\twhich is determined on the basis of an assessment of the work per- \u00a0
\n\t\t\t\t\tformed, calculated as the ratio of expenses incurred compared to total \u00a0
\n\t\t\t\t\tanticipated expenses on the contract concerned. When it is probable \u00a0
\n\t\t\t\t\tthat the total contract costs will exceed the total contract revenue, the \u00a0
\n\t\t\t\t\tanticipated loss on the contract is immediately recognized as a provision. \u00a0
\n\t\t\t\t\tWhen income and expenses on a construction contract cannot be \u00a0
\n\t\t\t\t\tdetermined reliably, the contract value is measured as the costs incurred \u00a0
\n\t\t\t\t\twhich are likely to be recoverable. \u00a0
",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForConstructionInProgressExplanatory",
"language": "en",
"entity": "scheme:529900197LKWCEQ0NL18",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"fact2394": {
"value": "Section 5 \u2013 Capital structure and financial risk management \u00a0
NKT\u2019s Capital structure targets \u00a0
\n\t\t\t\t\tare related to solvency (ratio of \u00a0
\n\t\t\t\t\tminimum 30%) and operational \u00a0
\n\t\t\t\t\tEBITDA leverage (ratio up to 1.0x). \u00a0
\n\t\t\t\t\tFinancial risk management mainly \u00a0
\n\t\t\t\t\trelates to managing the risks related \u00a0
\n\t\t\t\t\tto currency, commodities and \u00a0
\n\t\t\t\t\tinterest rate risks relating to the \u00a0
\n\t\t\t\t\tfinancing. \u00a0
5.1 Share capital \u00a0
\n\t\t\t\t\tNKT A/S\u2019 share capital consists of shares with a nominal value of DKK 20 each. No shares \u00a0
\n\t\t\t\t\tcarry special rights. NKT A/S\u2019 Articles of Association specify no limits in respect of owner- \u00a0
\n\t\t\t\t\tship or voting right, and Group Management is unaware of any agreements in this regard. \u00a0
\n\t\t\t\t\tDistribution of dividend to shareholders of NKT A/S has no tax consequences for the company. \u00a0
\n\t\t\t\t\tAs per 31 December 2022 share capital comprised 42,976,036 shares of nominal value \u00a0
\n\t\t\t\t\tof DKK 20 per share. Share capital has been unchanged in 2022 and 2021. During 2022, \u00a0
\n\t\t\t\t\t75,000 treasury shares were purchased of which 16,055 are held at 31 December 2022. \u00a0
Mandates issued by the shareholders at the General Meeting \u00a0
\n\t\t\t\t\tin relation to the Group\u2019s capital structure: \u00a0
\n\t\t\t\t\t1. The share capital may, by resolution of the Board of Directors, be increased by issue of \u00a0
\n\t\t\t\t\tshares to a maximum nominal amount of DKK 256m in the period until 30 April 2025. The \u00a0
\n\t\t\t\t\tmandate was granted on the Annual General Meeting in June 2020, and consequently \u00a0
\n\t\t\t\t\tsubsequent the first capital increase in 2020. With the second increase in December \u00a0
\n\t\t\t\t\t2020 of DKK 215m, the remaining amount of the authorization is DKK 41,119,820. \u00a0
2. For the period until 31 March 2026 the Board of Directors is authorized to arrange for ac- \u00a0
\n\t\t\t\t\tquisition of the Company\u2019s own shares up to a nominal value of 10% of the share capital. \u00a0
\n\t\t\t\t\tThe purchase price for such shares may not deviate more than 10 per cent from the price \u00a0
\n\t\t\t\t\tquoted on Nasdaq Copenhagen at the time of acquisition. The price quoted at the time of \u00a0
\n\t\t\t\t\tacquisition shall mean Nasdaq Copenhagen closing price - all transactions at 5 p.m. \u00a0
3. In the period until 30 April 2025 loans may be raised against bonds or debt instruments in \u00a0
\n\t\t\t\t\tone of several transactions with a right for the lender to convert this claim to shares, each \u00a0
\n\t\t\t\t\tof a nominal value of DKK 20, up to a maximum nominal amount of DKK 128m (6.4 mil- \u00a0
\n\t\t\t\t\tlion new shares). This mandate is equally capped to DKK 41,119,820 due to the capital \u00a0
\n\t\t\t\t\tincreases in 2020. \u00a0
Accounting policy \u00a0
\n\t\t\t\t\tDividend is recognized as a liability at the date of adoption at the Annual General Meeting \u00a0
\n\t\t\t\t\t(declaration date). Proposed dividend payments for the year are disclosed as a separate \u00a0
\n\t\t\t\t\titem under equity. Interim dividend is recognized as a liability at the date when the decision \u00a0
\n\t\t\t\t\tto pay such dividend is made. \u00a0
Acquisition costs, consideration received, and dividends relating to treasury shares, are \u00a0
\n\t\t\t\t\trecognized directly in retained comprehensive income in equity. \u00a0
5.3 Hybrid capital \u00a0
\n\t\t\t\t\tFor 2022, hybrid capital comprise issued bonds from September 2022 of \u00a0
\n\t\t\t\t\tEUR 150m. For 2021, hybrid capital comprose issued bonds from Sep- \u00a0
\n\t\t\t\t\ttember 2018 of EUR 150m. In 2022, the
hybrid capital from September \u00a0
\n\t\t\t\t\t2018 was called and settled and a new hybrid bond was issued. \u00a0
\n\t\t\t\t\tThe issued hybrid capital in both 2022 and 2021 have been accounted \u00a0
\n\t\t\t\t\tfor as a hybrid capital reserve in equity. The classification is based on the \u00a0
\n\t\t\t\t\tspecial characteristics of the hybrid bond, where the bondholders are \u00a0
\n\t\t\t\t\tsubordinate to other creditors, and NKT A/S may defer and ultimately \u00a0
\n\t\t\t\t\tdecide not to pay the coupon. Any deferred coupons outstanding in \u00a0
\n\t\t\t\t\t3022 will be cancelled. However, deferred coupon payments become \u00a0
\n\t\t\t\t\tpayable if NKT A/S decides to pay dividends to shareholders. Coupon \u00a0
\n\t\t\t\t\tpayments are recognized in equity. For further details on the hybrid \u00a0
\n\t\t\t\t\tcapital for 2022 and 2021 please see table below. \u00a0
\n\t\t\t\t\tAs the principal of the securities ultimately falls due in 3022 (3018 in \u00a0
\n\t\t\t\t\t2021), its discounted fair value is zero due to the terms of the securities. \u00a0
\n\t\t\t\t\tTherefore, a liability of zero has been recognized in the balance sheet, \u00a0
\n\t\t\t\t\tand the full amount of the proceeds have been recognized as equity. \u00a0
\n\t\t\t\t\tCoupon payments are recognized in the statement of cash flows in the \u00a0
\n\t\t\t\t\tsame way as dividend payments within financing activities. \u00a0
Hybrid bonds \u00a0
\n\t\t\t\t\t2022 \u00a0
\n\t\t\t\t\t2021 \u00a0
\n\t\t\t\t\tNominal value of hybrid capital \u00a0
\n\t\t\t\t\tEUR 150.0m \u00a0
\n\t\t\t\t\tEUR 150.0m \u00a0
\n\t\t\t\t\tClassification in financial statement \u00a0
\n\t\t\t\t\tEquity \u00a0
\n\t\t\t\t\tEquity \u00a0
\n\t\t\t\t\tIssued \u00a0
\n\t\t\t\t\tSept. 2022 \u00a0
\n\t\t\t\t\tSept. 2018 \u00a0
\n\t\t\t\t\tMaturing \u00a0
\n\t\t\t\t\tJuly 3022 \u00a0
\n\t\t\t\t\tSept. 3018 \u00a0
\n\t\t\t\t\tFirst call date \u00a0
\n\t\t\t\t\t1 July 2026
12 Sept. 20221 \u00a0
\n\t\t\t\t\tInterests: \u00a0
\n\t\t\t\t\tFor the first four years \u00a0
\n\t\t\t\t\t7.240% \u00a0
\n\t\t\t\t\t5.375% \u00a0
\n\t\t\t\t\tFor the following years \u00a0
\n\t\t\t\t\tResets to the \u00a0
\n\t\t\t\t\tResets to the \u00a0
\n\t\t\t\t\t4-year EUR \u00a0
\n\t\t\t\t\t4-year EUR \u00a0
\n\t\t\t\t\tswap rate \u00a0
\n\t\t\t\t\tswap rate \u00a0
\n\t\t\t\t\tprevailing \u00a0
\n\t\t\t\t\tprevailing at \u00a0
\n\t\t\t\t\tat that time \u00a0
\n\t\t\t\t\tthat time plus \u00a0
\n\t\t\t\t\tplus 5% \u00a0
\n\t\t\t\t\t10.225% \u00a0
\n\t\t\t\t\tThe hybrid capital in 2021 was called and settled in 2022. \u00a0
In connection with the issue of the new hybrid capital in 2022, holders of \u00a0
\n\t\t\t\t\tthe previous hybrid capital had the option to roll-over their investment in \u00a0
\n\t\t\t\t\tthe new hybrid capital without any cash transactions. Therefore, the cash \u00a0
\n\t\t\t\t\tflow from the issue and repurchase of hybrid capitals are less than the \u00a0
\n\t\t\t\t\tnominal amount of the hybrids. Below is a specification of the cash flow \u00a0
\n\t\t\t\t\trelated to the hybrid capital transactions in 2022. \u00a0
Cash flow from new hybrid capital \u00a0
\n\t\t\t\t\t2022 \u00a0
\n\t\t\t\t\tIssue of new hybrid capital \u00a0
\n\t\t\t\t\t150.0 \u00a0
\n\t\t\t\t\tCosts associated with new hybrid capital \u00a0
\n\t\t\t\t\t-1.6 \u00a0
\n\t\t\t\t\tTransferring of former hybrid holders to new hybrid capital \u00a0
\n\t\t\t\t\t-86.7 \u00a0
\n\t\t\t\t\tProceeds from issurance of hybrid capital \u00a0
\n\t\t\t\t\t61.7 \u00a0
\n\t\t\t\t\tRepayment of previous hybrid capital \u00a0
\n\t\t\t\t\t-150.0 \u00a0
\n\t\t\t\t\tTransferring of former hybrid holders to new hybrid capital \u00a0
\n\t\t\t\t\t86.7 \u00a0
\n\t\t\t\t\tRepurchase of hybrid capital \u00a0
\n\t\t\t\t\t-63.3 \u00a0
On 11 August 2022, NKT A/S announced the notice of early redemption \u00a0
\n\t\t\t\t\tof all of its outstanding hybrid securities due 3018 with redemption date \u00a0
\n\t\t\t\t\t12 September 2022. As per 11 August 2022, the hybrid was there- \u00a0
\n\t\t\t\t\tfore treated as an interest-bearing liability and no longer as an equity \u00a0
\n\t\t\t\t\tinstrument. Consequently, the interests on the hybrid for the period up \u00a0
\n\t\t\t\t\tuntil 11 August 2022 are treated as dividend on the equity and interests \u00a0
\n\t\t\t\t\tfor the period after 11 August 2022 until redemption date are treated as \u00a0
\n\t\t\t\t\tfinancial items. \u00a0
",
"dimensions": {
"concept": "ifrs-full:DisclosureOfShareCapitalReservesAndOtherEquityInterestExplanatory",
"language": "en",
"entity": "scheme:529900197LKWCEQ0NL18",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"fact2407": {
"value": "Section 5 \u2013 Capital structure and financial risk management \u00a0
NKT\u2019s Capital structure targets \u00a0
\n\t\t\t\t\tare related to solvency (ratio of \u00a0
\n\t\t\t\t\tminimum 30%) and operational \u00a0
\n\t\t\t\t\tEBITDA leverage (ratio up to 1.0x). \u00a0
\n\t\t\t\t\tFinancial risk management mainly \u00a0
\n\t\t\t\t\trelates to managing the risks related \u00a0
\n\t\t\t\t\tto currency, commodities and \u00a0
\n\t\t\t\t\tinterest rate risks relating to the \u00a0
\n\t\t\t\t\tfinancing. \u00a0
5.6 Financial risks and financial instruments \u00a0
Financial risk management policy \u00a0
\n\t\t\t\t\tNKT is exposed to and manages several financial \u00a0
\n\t\t\t\t\trisks due to its operations, investments and financing \u00a0
\n\t\t\t\t\tactivities. The risk policy does not allow for speculation \u00a0
\n\t\t\t\t\tin financial risks. \u00a0
\n\t\t\t\t\tThe risk management policy is managed by Group \u00a0
\n\t\t\t\t\tTreasury. The general principle is that all known risks \u00a0
\n\t\t\t\t\tare hedged, though with acceptance of an open \u00a0
\n\t\t\t\t\tposition within a defined threshold. The risk thresholds \u00a0
\n\t\t\t\t\tare defined at a level, that insure NKT is sufficiently pro- \u00a0
\n\t\t\t\t\ttected against any risk, while providing Group Treasury \u00a0
\n\t\t\t\t\troom for managing risks efficiently. \u00a0
\n\t\t\t\t\tNKT uses financial instruments, such as forwards, \u00a0
\n\t\t\t\t\tswaps and interest rate caps to hedge exposures relat- \u00a0
\n\t\t\t\t\ting to currency, interest rates, and commodities. While \u00a0
\n\t\t\t\t\toptions are also available as instruments, no option \u00a0
\n\t\t\t\t\tcontracts are active at the end of 2022 (none in 2021). \u00a0
\n\t\t\t\t\tThe financial risks, as described further below, are \u00a0
\n\t\t\t\t\tdivided into: \u00a0
\n\t\t\t\t\t1. Currency risks \u00a0
\n\t\t\t\t\t2. Interest rate risks \u00a0
\n\t\t\t\t\t3. Raw material price risks \u00a0
\n\t\t\t\t\t4. Credit risks \u00a0
\n\t\t\t\t\t5. Liquidity risks \u00a0
Currency risks \u00a0
\n\t\t\t\t\tWith presence in several countries NKT is exposed to \u00a0
\n\t\t\t\t\tcurrency risks that may have considerable influence on \u00a0
\n\t\t\t\t\tthe income statement and balance sheet. Currency risks \u00a0
\n\t\t\t\t\trefer to the risks of losses (or opportunities for gains) \u00a0
\n\t\t\t\t\tresulting from changes in currency rates. Currency risks \u00a0
\n\t\t\t\t\tarise through transactions, financial assets and liabilities \u00a0
\n\t\t\t\t\tdenominated in currencies other than the functional \u00a0
\n\t\t\t\t\tcurrency of the individual businesses. Quantification and \u00a0
\n\t\t\t\t\tidentification of existing and anticipated currency risks \u00a0
\n\t\t\t\t\tare the responsibility of the individual businesses, while \u00a0
\n\t\t\t\t\tthe actual hedging is executed by Group Treasury. \u00a0
\n\t\t\t\t\tNKT does not hedge the currency risks related to net \u00a0
\n\t\t\t\t\tinvestments in foreign subsidiaries. Gains and losses \u00a0
\n\t\t\t\t\trelating to unhedged net assets in foreign subsidiaries \u00a0
\n\t\t\t\t\tare accounted directly in other comprehensive income. \u00a0
The principal currency exposure relates to sales and \u00a0
\n\t\t\t\t\tpurchases in currencies other than the functional \u00a0
\n\t\t\t\t\tcurrency of the businesses. Hedging of these currency \u00a0
\n\t\t\t\t\trisks are based on an assessment of the likelihood of \u00a0
\n\t\t\t\t\tthe future transaction being performed and materiality. \u00a0
\n\t\t\t\t\tExpected cash flows with significant currency risk are \u00a0
\n\t\t\t\t\thedged as they become known. Currency risks from \u00a0
\n\t\t\t\t\tproject-related sales are considered on an individual \u00a0
\n\t\t\t\t\tbasis. The fair value of the effective part of the hedge \u00a0
\n\t\t\t\t\tis recognized in other comprehensive income on a \u00a0
\n\t\t\t\t\tcontinuous basis. \u00a0
\n\t\t\t\t\tThe table on the next page shows net outstanding for- \u00a0
\n\t\t\t\t\tward exchange hedging contracts as at 31 December \u00a0
\n\t\t\t\t\tfor NKT, which are used for and fulfil the conditions for \u00a0
\n\t\t\t\t\thedge accounting of future transactions. \u00a0
\n\t\t\t\t\tThe fair value of the total portfolio of currency hedge \u00a0
\n\t\t\t\t\tcontracts will impact other comprehensive income if \u00a0
\n\t\t\t\t\tcurrency rates change. The effect of a 10% increase \u00a0
\n\t\t\t\t\tin selected currency rates is shown in the table to the \u00a0
\n\t\t\t\t\tright. \u00a0
\n\t\t\t\t\tAs NKT currently only uses forwards and spots to \u00a0
\n\t\t\t\t\thedge the FX risks, and only designate the spot ele- \u00a0
\n\t\t\t\t\tment, the likelihood of inefficiency is low, through possi- \u00a0
\n\t\t\t\t\tble if changes in expected cashflows from projects are \u00a0
\n\t\t\t\t\tnot reflected correctly in the hedges. \u00a0
Interest rate risks \u00a0
\n\t\t\t\t\tInterest rate risks refer to the influence of changes in \u00a0
\n\t\t\t\t\tmarket interest rates on future cash flows concerning \u00a0
\n\t\t\t\t\tinterest-bearing assets and liabilities. \u00a0
\n\t\t\t\t\tIn 2022 no interest rate swaps were made. In 2021 an \u00a0
\n\t\t\t\t\tinterest rate hedge of EUR 30m was made in form of an \u00a0
\n\t\t\t\t\tinterest rate swap with a fixed rate of -0.3375 maturing \u00a0
\n\t\t\t\t\tin March 2026. \u00a0
\n\t\t\t\t\tAs of end-2022, the market value of the interest rate \u00a0
\n\t\t\t\t\tderivatives was EUR 7.6m (EUR 0.8m in 2021). \u00a0
Cash flow hedges related to \u00a0
\n\t\t\t\t\tNotional value \u00a0
\n\t\t\t\t\tNotional value \u00a0
\n\t\t\t\t\tFair value \u00a0
\n\t\t\t\t\tthe most significant currencies \u00a0
\n\t\t\t\t\tAverage exchange rate1 \u00a0
\n\t\t\t\t\tLocal currency in million \u00a0
\n\t\t\t\t\tEURm \u00a0
\n\t\t\t\t\tEURm \u00a0
\n\t\t\t\t\tLocal currency \u00a0
\n\t\t\t\t\t31 Dec 2022 \u00a0
\n\t\t\t\t\t31 Dec 2021 \u00a0
\n\t\t\t\t\t31 Dec 2022 \u00a0
\n\t\t\t\t\t31 Dec 2021 \u00a0
\n\t\t\t\t\t31 Dec 2022 \u00a0
\n\t\t\t\t\t31 Dec 2021 \u00a0
\n\t\t\t\t\t31 Dec 2022 \u00a0
\n\t\t\t\t\t31 Dec 2021 \u00a0
\n\t\t\t\t\tSEK2 \u00a0
\n\t\t\t\t\tBuy \u00a0
\n\t\t\t\t\tLess than 1 year \u00a0
\n\t\t\t\t\t0.0943 \u00a0
\n\t\t\t\t\t0.0927 \u00a0
\n\t\t\t\t\t7,661.54 \u00a0
\n\t\t\t\t\t334.18 \u00a0
\n\t\t\t\t\t722.30 \u00a0
\n\t\t\t\t\t30.99 \u00a0
\n\t\t\t\t\t-35.8 \u00a0
\n\t\t\t\t\t1.3 \u00a0
\n\t\t\t\t\tMore than 1 year \u00a0
\n\t\t\t\t\t0.0938 \u00a0
\n\t\t\t\t\t0.0915 \u00a0
\n\t\t\t\t\t8,963.35 \u00a0
\n\t\t\t\t\t23.82 \u00a0
\n\t\t\t\t\t840.94 \u00a0
\n\t\t\t\t\t2.18 \u00a0
\n\t\t\t\t\t-37.8 \u00a0
\n\t\t\t\t\t0.1 \u00a0
\n\t\t\t\t\tSell \u00a0
\n\t\t\t\t\tLess than 1 year \u00a0
\n\t\t\t\t\t0.0926 \u00a0
\n\t\t\t\t\t0.0963 \u00a0
\n\t\t\t\t\t6,873.45 \u00a0
\n\t\t\t\t\t6.96 \u00a0
\n\t\t\t\t\t636.51 \u00a0
\n\t\t\t\t\t0.67 \u00a0
\n\t\t\t\t\t20.6 \u00a0
\n\t\t\t\t\tMore than 1 year \u00a0
\n\t\t\t\t\t0.0940 \u00a0
\n\t\t\t\t\t3,431.63 \u00a0
\n\t\t\t\t\t322.62 \u00a0
\n\t\t\t\t\t15.1 \u00a0
\n\t\t\t\t\tUSD \u00a0
\n\t\t\t\t\tBuy \u00a0
\n\t\t\t\t\tLess than 1 year \u00a0
\n\t\t\t\t\t0.9410 \u00a0
\n\t\t\t\t\t0.8445 \u00a0
\n\t\t\t\t\t562.29 \u00a0
\n\t\t\t\t\t25.43 \u00a0
\n\t\t\t\t\t529.13 \u00a0
\n\t\t\t\t\t21.48 \u00a0
\n\t\t\t\t\t-9.5 \u00a0
\n\t\t\t\t\t0.7 \u00a0
\n\t\t\t\t\tMore than 1 year \u00a0
\n\t\t\t\t\t0.9486 \u00a0
\n\t\t\t\t\t0.8631 \u00a0
\n\t\t\t\t\t281.06 \u00a0
\n\t\t\t\t\t19.70 \u00a0
\n\t\t\t\t\t266.62 \u00a0
\n\t\t\t\t\t17.00 \u00a0
\n\t\t\t\t\t-10.6 \u00a0
\n\t\t\t\t\tSell \u00a0
\n\t\t\t\t\tLess than 1 year \u00a0
\n\t\t\t\t\t0.9697 \u00a0
\n\t\t\t\t\t0.8494 \u00a0
\n\t\t\t\t\t542.51 \u00a0
\n\t\t\t\t\t64.73 \u00a0
\n\t\t\t\t\t526.09 \u00a0
\n\t\t\t\t\t54.98 \u00a0
\n\t\t\t\t\t25.1 \u00a0
\n\t\t\t\t\t-1.6 \u00a0
\n\t\t\t\t\tMore than 1 year \u00a0
\n\t\t\t\t\t0.9341 \u00a0
\n\t\t\t\t\t0.8382 \u00a0
\n\t\t\t\t\t617.35 \u00a0
\n\t\t\t\t\t10.35 \u00a0
\n\t\t\t\t\t576.67 \u00a0
\n\t\t\t\t\t8.68 \u00a0
\n\t\t\t\t\t15.8 \u00a0
\n\t\t\t\t\t-0.2 \u00a0
\n\t\t\t\t\tLess than 1 year \u00a0
\n\t\t\t\t\t1.1522 \u00a0
\n\t\t\t\t\t1.1570 \u00a0
\n\t\t\t\t\t104.12 \u00a0
\n\t\t\t\t\t42.90 \u00a0
\n\t\t\t\t\t119.97 \u00a0
\n\t\t\t\t\t49.63 \u00a0
\n\t\t\t\t\t-3.3 \u00a0
\n\t\t\t\t\t1.0 \u00a0
\n\t\t\t\t\tGBP \u00a0
\n\t\t\t\t\tBuy \u00a0
\n\t\t\t\t\tMore than 1 year \u00a0
\n\t\t\t\t\t1.1626 \u00a0
\n\t\t\t\t\t1.1458 \u00a0
\n\t\t\t\t\t35.24 \u00a0
\n\t\t\t\t\t31.32 \u00a0
\n\t\t\t\t\t40.97 \u00a0
\n\t\t\t\t\t35.98 \u00a0
\n\t\t\t\t\t-1.7 \u00a0
\n\t\t\t\t\t0.6 \u00a0
\n\t\t\t\t\tSell \u00a0
\n\t\t\t\t\tLess than 1 year \u00a0
\n\t\t\t\t\t1.1551 \u00a0
\n\t\t\t\t\t1.1398 \u00a0
\n\t\t\t\t\t144.55 \u00a0
\n\t\t\t\t\t80.20 \u00a0
\n\t\t\t\t\t166.98 \u00a0
\n\t\t\t\t\t91.41 \u00a0
\n\t\t\t\t\t5.1 \u00a0
\n\t\t\t\t\t-3.1 \u00a0
\n\t\t\t\t\tMore than 1 year \u00a0
\n\t\t\t\t\t1.1702 \u00a0
\n\t\t\t\t\t1.1364 \u00a0
\n\t\t\t\t\t196.46 \u00a0
\n\t\t\t\t\t19.93 \u00a0
\n\t\t\t\t\t229.90 \u00a0
\n\t\t\t\t\t22.64 \u00a0
\n\t\t\t\t\t9.8 \u00a0
\n\t\t\t\t\t-0.5 \u00a0
\n\t\t\t\t\tNOK \u00a0
\n\t\t\t\t\tBuy \u00a0
\n\t\t\t\t\tLess than 1 year \u00a0
\n\t\t\t\t\t0.0975 \u00a0
\n\t\t\t\t\t0.0980 \u00a0
\n\t\t\t\t\t329.04 \u00a0
\n\t\t\t\t\t130.00 \u00a0
\n\t\t\t\t\t32.08 \u00a0
\n\t\t\t\t\t12.74 \u00a0
\n\t\t\t\t\t-1.7 \u00a0
\n\t\t\t\t\t0.1 \u00a0
\n\t\t\t\t\tMore than 1 year \u00a0
\n\t\t\t\t\t0.1028 \u00a0
\n\t\t\t\t\t0.0975 \u00a0
\n\t\t\t\t\t151.65 \u00a0
\n\t\t\t\t\t295.00 \u00a0
\n\t\t\t\t\t15.59 \u00a0
\n\t\t\t\t\t28.76 \u00a0
\n\t\t\t\t\t-1.4 \u00a0
\n\t\t\t\t\t-0.3 \u00a0
\n\t\t\t\t\tSell \u00a0
\n\t\t\t\t\tLess than 1 year \u00a0
\n\t\t\t\t\t0.1020 \u00a0
\n\t\t\t\t\t191.14 \u00a0
\n\t\t\t\t\t19.49 \u00a0
\n\t\t\t\t\t1.6 \u00a0
\n\t\t\t\t\tMore than 1 year \u00a0
\n\t\t\t\t\t0.0988 \u00a0
\n\t\t\t\t\t0.0988 \u00a0
\n\t\t\t\t\t14.75 \u00a0
\n\t\t\t\t\t40.00 \u00a0
\n\t\t\t\t\t1.46 \u00a0
\n\t\t\t\t\t4.00 \u00a0
\n\t\t\t\t\t0.1 \u00a0
\n\t\t\t\t\t0.1 \u00a0
\n\t\t\t\t\tCAD \u00a0
\n\t\t\t\t\tBuy \u00a0
\n\t\t\t\t\tLess than 1 year \u00a0
\n\t\t\t\t\t0.7137 \u00a0
\n\t\t\t\t\t24.00 \u00a0
\n\t\t\t\t\t17.13 \u00a0
\n\t\t\t\t\t-0.7 \u00a0
\n\t\t\t\t\tMore than 1 year \u00a0
\n\t\t\t\t\tSell \u00a0
\n\t\t\t\t\tLess than 1 year \u00a0
\n\t\t\t\t\t0.7413 \u00a0
\n\t\t\t\t\t67.96 \u00a0
\n\t\t\t\t\t50.38 \u00a0
\n\t\t\t\t\t4.0 \u00a0
\n\t\t\t\t\tMore than 1 year \u00a0
\n\t\t\t\t\t0.7500 \u00a0
\n\t\t\t\t\t45.30 \u00a0
\n\t\t\t\t\t33.98 \u00a0
\n\t\t\t\t\t3.4 \u00a0
\n\t\t\t\t\tCash flow hedges reported as assets \u00a0
\n\t\t\t\t\t74.5 \u00a0
\n\t\t\t\t\t4.4 \u00a0
\n\t\t\t\t\tCash flow hedges reported as liabilities \u00a0
\n\t\t\t\t\t76.4 \u00a0
\n\t\t\t\t\t6.2 \u00a0
\n\t\t\t\t\tEUR/Local currency \u00a0
\n\t\t\t\t\t1
\n\t\t\t\t\t2
\n\t\t\t\t\tFor hedges in Local currency/SEK the SEK part has been tranferred to EUR, and a value of the SEK part has been calculated. \u00a0
Raw material price risks \u00a0
\n\t\t\t\t\tRaw material price risks primarily relate to metals and plastics used in \u00a0
\n\t\t\t\t\tthe cable production. When changes in raw material prices cannot be \u00a0
\n\t\t\t\t\ttransferred to customers, NKT uses financial instruments to hedge the \u00a0
\n\t\t\t\t\tprice risks. NKT has, due to the larger order backlog, a high amount of raw \u00a0
\n\t\t\t\t\tmaterial derivatives to cover the risks related to the large future purchases \u00a0
\n\t\t\t\t\tof especially copper. Exposures and hedging of current and expected \u00a0
\n\t\t\t\t\tfuture raw material risks are managed by the businesses based on adopted \u00a0
\n\t\t\t\t\tGroup guidelines. Hedging of awarded projects are done at the time of \u00a0
\n\t\t\t\t\taward and adjusted according to changes in production plans. \u00a0
\n\t\t\t\t\tNKT hedge raw material via LME. Changes in the fair value of the hedging \u00a0
\n\t\t\t\t\tinstrument should offset changes in the value of the underlying item be- \u00a0
\n\t\t\t\t\tcause the reference prices are the same for the hedging instrument and the \u00a0
\n\t\t\t\t\thedged item. NKT applies cost of hedging, whereby the forward points are \u00a0
\n\t\t\t\t\trecognized in other comprehensive income and transferred with the effective \u00a0
\n\t\t\t\t\thedge when the hedged transaction occurs.. For the hedge of plastic, inef- \u00a0
\n\t\t\t\t\tfectiveness will arise as this is hedged via a gas-oil proxy hedge. Ineffective- \u00a0
\n\t\t\t\t\tness because of differences in the change between gas-oil and plastic are \u00a0
\n\t\t\t\t\tconsidered insignificant. \u00a0
\n\t\t\t\t\tAs at 31 December 2022, NKT A/S had current financial hedging instru- \u00a0
\n\t\t\t\t\tments relating to future raw material supplies of a value of EUR 908.6m \u00a0
\n\t\t\t\t\t(EUR 468.6m in 2021) with a positive fair value of EUR 170.6m (positive \u00a0
\n\t\t\t\t\tvalue of EUR 225.2m in 2021). \u00a0
\n\t\t\t\t\tSensitivity to the development (+/- 10%) in raw material prices was present- \u00a0
\n\t\t\t\t\ted in the table on page 82. The table to the right provides an overview of \u00a0
\n\t\t\t\t\tthe cash flow hedges related to raw materials. \u00a0
Average rate \u00a0
\n\t\t\t\t\tNotional value \u00a0
\n\t\t\t\t\tFair value \u00a0
\n\t\t\t\t\tCash flow hedges related to raw materials \u00a0
\n\t\t\t\t\tEUR/ton \u00a0
\n\t\t\t\t\tEURm \u00a0
\n\t\t\t\t\tEURm \u00a0
\n\t\t\t\t\tCommodity \u00a0
\n\t\t\t\t\t31 Dec 2022 \u00a0
\n\t\t\t\t\t31 Dec 2021 \u00a0
\n\t\t\t\t\t31 Dec 2022 \u00a0
\n\t\t\t\t\t31 Dec 2021 \u00a0
\n\t\t\t\t\t31 Dec 2022 \u00a0
\n\t\t\t\t\t31 Dec 2021 \u00a0
\n\t\t\t\t\tCopper \u00a0
\n\t\t\t\t\tBuy \u00a0
\n\t\t\t\t\tLess than 1 year \u00a0
\n\t\t\t\t\t5,961 \u00a0
\n\t\t\t\t\t5,882 \u00a0
\n\t\t\t\t\t528.6 \u00a0
\n\t\t\t\t\t321.0 \u00a0
\n\t\t\t\t\t169.6 \u00a0
\n\t\t\t\t\t147.3 \u00a0
\n\t\t\t\t\tMore than 1 year \u00a0
\n\t\t\t\t\t7,485 \u00a0
\n\t\t\t\t\t5,516 \u00a0
\n\t\t\t\t\t301.2 \u00a0
\n\t\t\t\t\t231.7 \u00a0
\n\t\t\t\t\t15.6 \u00a0
\n\t\t\t\t\t123.7 \u00a0
\n\t\t\t\t\tSell \u00a0
\n\t\t\t\t\tLess than 1 year \u00a0
\n\t\t\t\t\t6,421 \u00a0
\n\t\t\t\t\t5,733 \u00a0
\n\t\t\t\t\t-119.4 \u00a0
\n\t\t\t\t\t100.5 \u00a0
\n\t\t\t\t\t-26.9 \u00a0
\n\t\t\t\t\t-47.4 \u00a0
\n\t\t\t\t\tMore than 1 year \u00a0
\n\t\t\t\t\t5,371 \u00a0
\n\t\t\t\t\t14.9 \u00a0
\n\t\t\t\t\t-8.9 \u00a0
\n\t\t\t\t\tLead \u00a0
\n\t\t\t\t\tBuy \u00a0
\n\t\t\t\t\tLess than 1 year \u00a0
\n\t\t\t\t\t1,843 \u00a0
\n\t\t\t\t\t1,677 \u00a0
\n\t\t\t\t\t20.0 \u00a0
\n\t\t\t\t\t18.6 \u00a0
\n\t\t\t\t\t4.0 \u00a0
\n\t\t\t\t\t4.3 \u00a0
\n\t\t\t\t\tMore than 1 year \u00a0
\n\t\t\t\t\t1,897 \u00a0
\n\t\t\t\t\t1,721 \u00a0
\n\t\t\t\t\t10.2 \u00a0
\n\t\t\t\t\t3.1 \u00a0
\n\t\t\t\t\t1.7 \u00a0
\n\t\t\t\t\t0.7 \u00a0
\n\t\t\t\t\tSell \u00a0
\n\t\t\t\t\tLess than 1 year \u00a0
\n\t\t\t\t\t1,885 \u00a0
\n\t\t\t\t\t1,647 \u00a0
\n\t\t\t\t\t-3.2 \u00a0
\n\t\t\t\t\t8.0 \u00a0
\n\t\t\t\t\t-0.5 \u00a0
\n\t\t\t\t\t-1.9 \u00a0
\n\t\t\t\t\tMore than 1 year \u00a0
\n\t\t\t\t\t1,872 \u00a0
\n\t\t\t\t\t1.4 \u00a0
\n\t\t\t\t\tAluminium \u00a0
\n\t\t\t\t\tBuy \u00a0
\n\t\t\t\t\tLess than 1 year \u00a0
\n\t\t\t\t\t2,349 \u00a0
\n\t\t\t\t\t1,778 \u00a0
\n\t\t\t\t\t13.3 \u00a0
\n\t\t\t\t\t9.2 \u00a0
\n\t\t\t\t\t-0.8 \u00a0
\n\t\t\t\t\t4.0 \u00a0
\n\t\t\t\t\tMore than 1 year \u00a0
\n\t\t\t\t\tSell \u00a0
\n\t\t\t\t\tLess than 1 year \u00a0
\n\t\t\t\t\t2,312 \u00a0
\n\t\t\t\t\t1,563 \u00a0
\n\t\t\t\t\t-24.9 \u00a0
\n\t\t\t\t\t2.7 \u00a0
\n\t\t\t\t\t1.1 \u00a0
\n\t\t\t\t\t-1.6 \u00a0
\n\t\t\t\t\tMore than 1 year \u00a0
\n\t\t\t\t\tGas-oil \u00a0
\n\t\t\t\t\tBuy \u00a0
\n\t\t\t\t\tLess than 1 year \u00a0
\n\t\t\t\t\t620 \u00a0
\n\t\t\t\t\t420 \u00a0
\n\t\t\t\t\t20.4 \u00a0
\n\t\t\t\t\t6.6 \u00a0
\n\t\t\t\t\t5.5 \u00a0
\n\t\t\t\t\t2.6 \u00a0
\n\t\t\t\t\tMore than 1 year \u00a0
\n\t\t\t\t\t613 \u00a0
\n\t\t\t\t\t412 \u00a0
\n\t\t\t\t\t13.0 \u00a0
\n\t\t\t\t\t8.3 \u00a0
\n\t\t\t\t\t1.5 \u00a0
\n\t\t\t\t\t2.5 \u00a0
\n\t\t\t\t\tSell \u00a0
\n\t\t\t\t\tLess than 1 year \u00a0
\n\t\t\t\t\t634 \u00a0
\n\t\t\t\t\t578 \u00a0
\n\t\t\t\t\t-2.0 \u00a0
\n\t\t\t\t\t2.1 \u00a0
\n\t\t\t\t\t-0.6 \u00a0
\n\t\t\t\t\t-0.1 \u00a0
\n\t\t\t\t\tMore than 1 year \u00a0
\n\t\t\t\t\t847 \u00a0
\n\t\t\t\t\t573 \u00a0
\n\t\t\t\t\t-2.9 \u00a0
\n\t\t\t\t\t0.3 \u00a0
\n\t\t\t\t\t0.6 \u00a0
\n\t\t\t\t\tCash flow hedges reported as assets \u00a0
\n\t\t\t\t\t171.0 \u00a0
\n\t\t\t\t\t225.8 \u00a0
\n\t\t\t\t\tCash flow hedges reported as liabilities \u00a0
\n\t\t\t\t\t0.2 \u00a0
\n\t\t\t\t\t0.6 \u00a0
Foreign \u00a0
\n\t\t\t\t\texchange Interest
rate Commodity \u00a0
\n\t\t\t\t\tAmounts in EURm \u00a0
\n\t\t\t\t\trisk hedging
risk hedging
risk hedging \u00a0
\n\t\t\t\t\tTotal \u00a0
\n\t\t\t\t\tBalance at 1 January 2021 \u00a0
\n\t\t\t\t\t-0.4 \u00a0
\n\t\t\t\t\t-0.1 \u00a0
\n\t\t\t\t\t72.4 \u00a0
\n\t\t\t\t\t71.9 \u00a0
\n\t\t\t\t\tGain arising from changes in fair value of hedging instruments \u00a0
\n\t\t\t\t\t5.7 \u00a0
\n\t\t\t\t\t0.9 \u00a0
\n\t\t\t\t\t220.2 \u00a0
\n\t\t\t\t\t226.8 \u00a0
\n\t\t\t\t\tIncome tax related to gains recognized in other comprehensive income \u00a0
\n\t\t\t\t\t-1.3 \u00a0
\n\t\t\t\t\t-0.2 \u00a0
\n\t\t\t\t\t-55.7 \u00a0
\n\t\t\t\t\t-57.2 \u00a0
\n\t\t\t\t\tGain reclassified to profit or loss - hedged items have affected profit or loss \u00a0
\n\t\t\t\t\t-8.9 \u00a0
\n\t\t\t\t\t0.0 \u00a0
\n\t\t\t\t\t-68.3 \u00a0
\n\t\t\t\t\t-77.2 \u00a0
\n\t\t\t\t\tIncome tax related to amounts reclassified to profit or loss \u00a0
\n\t\t\t\t\t1.8 \u00a0
\n\t\t\t\t\t0.0 \u00a0
\n\t\t\t\t\t16.6 \u00a0
\n\t\t\t\t\t18.4 \u00a0
\n\t\t\t\t\tExchange rate adjustments \u00a0
\n\t\t\t\t\t-0.2 \u00a0
\n\t\t\t\t\t0.0 \u00a0
\n\t\t\t\t\t-0.5 \u00a0
\n\t\t\t\t\t-0.7 \u00a0
\n\t\t\t\t\tBalance at 31 December 2021 \u00a0
\n\t\t\t\t\t-3.3 \u00a0
\n\t\t\t\t\t0.6 \u00a0
\n\t\t\t\t\t184.7 \u00a0
\n\t\t\t\t\t182.0 \u00a0
\n\t\t\t\t\tGain/(loss) arising from changes in fair value of hedging instruments during the period \u00a0
\n\t\t\t\t\t0.9 \u00a0
\n\t\t\t\t\t6.7 \u00a0
\n\t\t\t\t\t72.9 \u00a0
\n\t\t\t\t\t80.5 \u00a0
\n\t\t\t\t\tIncome tax related to gains/(losses) recognized in other comprehensive income \u00a0
\n\t\t\t\t\tduring the period \u00a0
\n\t\t\t\t\t-0.2 \u00a0
\n\t\t\t\t\t-1.5 \u00a0
\n\t\t\t\t\t-10.2 \u00a0
\n\t\t\t\t\t-11.9 \u00a0
\n\t\t\t\t\t(Gain)/loss reclassified to profit or loss - hedged items have affected profit or loss \u00a0
\n\t\t\t\t\t3.0 \u00a0
\n\t\t\t\t\t0.0 \u00a0
\n\t\t\t\t\t-125.8 \u00a0
\n\t\t\t\t\t-122.8 \u00a0
\n\t\t\t\t\tIncome tax related to amounts reclassified to profit or loss \u00a0
\n\t\t\t\t\t-0.6 \u00a0
\n\t\t\t\t\t0.0 \u00a0
\n\t\t\t\t\t27.5 \u00a0
\n\t\t\t\t\t26.9 \u00a0
\n\t\t\t\t\tExchange rate adjustments \u00a0
\n\t\t\t\t\t-0.1 \u00a0
\n\t\t\t\t\t0.0 \u00a0
\n\t\t\t\t\t-9.0 \u00a0
\n\t\t\t\t\t-9.1 \u00a0
\n\t\t\t\t\tBalance at 31 December 2022 \u00a0
\n\t\t\t\t\t-0.3 \u00a0
\n\t\t\t\t\t5.8 \u00a0
\n\t\t\t\t\t140.1 \u00a0
\n\t\t\t\t\t145.6 \u00a0
Foreign \u00a0
\n\t\t\t\t\texchange Interest
rate Commodity \u00a0
\n\t\t\t\t\tAmounts in EURm \u00a0
\n\t\t\t\t\trisk hedging
risk hedging
risk hedging \u00a0
\n\t\t\t\t\tTotal \u00a0
\n\t\t\t\t\tBalance at 1 January 2021 \u00a0
\n\t\t\t\t\t0.0 \u00a0
\n\t\t\t\t\t0.0 \u00a0
\n\t\t\t\t\t0.0 \u00a0
\n\t\t\t\t\t0.0 \u00a0
\n\t\t\t\t\tLoss arising from changes in fair value of hedging instruments \u00a0
\n\t\t\t\t\t-1.4 \u00a0
\n\t\t\t\t\t0.0 \u00a0
\n\t\t\t\t\t-23.4 \u00a0
\n\t\t\t\t\t-24.8 \u00a0
\n\t\t\t\t\tIncome tax related to loss recognized in other comprehensive income \u00a0
\n\t\t\t\t\t0.4 \u00a0
\n\t\t\t\t\t0.0 \u00a0
\n\t\t\t\t\t5.8 \u00a0
\n\t\t\t\t\t6.2 \u00a0
\n\t\t\t\t\tLoss reclassified to profit or loss - hedged items have affected profit or loss \u00a0
\n\t\t\t\t\t0.0 \u00a0
\n\t\t\t\t\t0.0 \u00a0
\n\t\t\t\t\t3.3 \u00a0
\n\t\t\t\t\t3.3 \u00a0
\n\t\t\t\t\tIncome tax related to amounts reclassified to profit or loss \u00a0
\n\t\t\t\t\t0.0 \u00a0
\n\t\t\t\t\t0.0 \u00a0
\n\t\t\t\t\t-0.8 \u00a0
\n\t\t\t\t\t-0.8 \u00a0
\n\t\t\t\t\tExchange rate adjustments \u00a0
\n\t\t\t\t\t0.0 \u00a0
\n\t\t\t\t\t0.0 \u00a0
\n\t\t\t\t\t-0.1 \u00a0
\n\t\t\t\t\t-0.1 \u00a0
\n\t\t\t\t\tBalance at 31 December 2021 \u00a0
\n\t\t\t\t\t-1.0 \u00a0
\n\t\t\t\t\t0.0 \u00a0
\n\t\t\t\t\t-15.2 \u00a0
\n\t\t\t\t\t-16.2 \u00a0
\n\t\t\t\t\tGain/(loss) arising from changes in fair value of hedging instruments during the period \u00a0
\n\t\t\t\t\t1.3 \u00a0
\n\t\t\t\t\t0.0 \u00a0
\n\t\t\t\t\t0.4 \u00a0
\n\t\t\t\t\t1.7 \u00a0
\n\t\t\t\t\tIncome tax related to gains/(losses) recognized in other comprehensive income \u00a0
\n\t\t\t\t\tduring the period \u00a0
\n\t\t\t\t\t-0.3 \u00a0
\n\t\t\t\t\t0.0 \u00a0
\n\t\t\t\t\t-0.1 \u00a0
\n\t\t\t\t\t-0.4 \u00a0
\n\t\t\t\t\t(Gain)/loss reclassified to profit or loss - hedged items have affected profit or loss \u00a0
\n\t\t\t\t\t0.0 \u00a0
\n\t\t\t\t\t0.0 \u00a0
\n\t\t\t\t\t2.9 \u00a0
\n\t\t\t\t\t2.9 \u00a0
\n\t\t\t\t\tIncome tax related to amounts reclassified to profit or loss \u00a0
\n\t\t\t\t\t0.0 \u00a0
\n\t\t\t\t\t0.0 \u00a0
\n\t\t\t\t\t-0.7 \u00a0
\n\t\t\t\t\t-0.7 \u00a0
\n\t\t\t\t\tExchange rate adjustments \u00a0
\n\t\t\t\t\t0.0 \u00a0
\n\t\t\t\t\t0.0 \u00a0
\n\t\t\t\t\t0.0 \u00a0
\n\t\t\t\t\t0.0 \u00a0
\n\t\t\t\t\tBalance at 31 December 2022 \u00a0
\n\t\t\t\t\t0.0 \u00a0
\n\t\t\t\t\t0.0 \u00a0
\n\t\t\t\t\t-12.7 \u00a0
\n\t\t\t\t\t-12.7 \u00a0
\n\t\t\t\t\tOf the fair values recorded in other comprehensive income, EUR 0.6m is expected to be recorded in Revenue (EUR 3.6m in 2021) and EUR 132.3m \u00a0
\n\t\t\t\t\t(EUR 161.5m in 2021) is expected to be recorded in Cost of raw materials, consumables and goods for resale. \u00a0
Liquidity risks \u00a0
\n\t\t\t\t\tIt is NKT Group\u2019s policy to maintain adequate liquidity resources to im- \u00a0
\n\t\t\t\t\tplement planned operating activities and to be able to operate effectively \u00a0
\n\t\t\t\t\tin the event of unforeseen fluctuations in liquidity. NKT Group\u2019s liquidity \u00a0
\n\t\t\t\t\tresources consist of cash, cash equivalents and undrawn committed \u00a0
\n\t\t\t\t\tcredit facilities (RCF). \u00a0
\n\t\t\t\t\tThe current RCF of EUR 200m has in 2022 been extended with one \u00a0
\n\t\t\t\t\tyear, so it matures in November 2025. The mortgage loan portfolio \u00a0
\n\t\t\t\t\tmatures in 2032 and 2033. \u00a0
\n\t\t\t\t\tThe RCF is the only financing instrument subject to financial covenants. \u00a0
\n\t\t\t\t\tNKT Group\u2019s financing contains change of control clauses, which comes \u00a0
\n\t\t\t\t\tinto effect if a shareholder or shareholder group gains control over NKT \u00a0
\n\t\t\t\t\tA/S or if NKT A/S is no longer listed at Nasdaq Copenhagen. \u00a0
\n\t\t\t\t\tIt is Group Management\u2019s opinion, that the financial headroom is suffi- \u00a0
\n\t\t\t\t\tcient to manage the level of activity expected in 2023 for the NKT Group. \u00a0
Liquidity resources \u00a0
\n\t\t\t\t\tAmounts in EURm \u00a0
\n\t\t\t\t\t2022 \u00a0
\n\t\t\t\t\t2021 \u00a0
\n\t\t\t\t\tCommitted facilities (>3 years) \u00a0
\n\t\t\t\t\t0.0 \u00a0
\n\t\t\t\t\t0.0 \u00a0
\n\t\t\t\t\tCommitted facilities (1-3 years) \u00a0
\n\t\t\t\t\t200.0 \u00a0
\n\t\t\t\t\t200.0 \u00a0
\n\t\t\t\t\tCommitted facilities (<1 year) \u00a0
\n\t\t\t\t\t0.0 \u00a0
\n\t\t\t\t\t0.0 \u00a0
\n\t\t\t\t\tTotal commited facilities \u00a0
\n\t\t\t\t\t200.0 \u00a0
\n\t\t\t\t\t200.0 \u00a0
\n\t\t\t\t\tUncommitted facilities \u00a0
\n\t\t\t\t\t0.0 \u00a0
\n\t\t\t\t\t0.0 \u00a0
\n\t\t\t\t\tTotal facilities \u00a0
\n\t\t\t\t\t200.0 \u00a0
\n\t\t\t\t\t200.0 \u00a0
\n\t\t\t\t\tCash \u00a0
\n\t\t\t\t\t258.5 \u00a0
\n\t\t\t\t\t200.5 \u00a0
\n\t\t\t\t\tUtilized facilities \u00a0
\n\t\t\t\t\t-9.0 \u00a0
\n\t\t\t\t\t-5.4 \u00a0
\n\t\t\t\t\tCash classified as assets held for sale \u00a0
\n\t\t\t\t\t3.7 \u00a0
\n\t\t\t\t\t0.0 \u00a0
\n\t\t\t\t\tLiquidity recources \u00a0
\n\t\t\t\t\t453.2 \u00a0
\n\t\t\t\t\t395.1 \u00a0
Credit risks \u00a0
\n\t\t\t\t\tNKT\u2019s credit risks relate partly to receivables, contract assets and cash \u00a0
\n\t\t\t\t\tat bank and in hand, and partly to derivative financial instruments with \u00a0
\n\t\t\t\t\tpositive fair value. The maximum credit risk attached to financial assets \u00a0
\n\t\t\t\t\tcorrespond to the values recognized in the balance sheet. \u00a0
\n\t\t\t\t\tNKT has no material risks relating to a single customer or partner. NKT\u2019s \u00a0
\n\t\t\t\t\tpolicy for acceptance of credit risks entails ongoing monitoring and credit \u00a0
\n\t\t\t\t\trating of important customers and other partners. NKT obtains prepay- \u00a0
\n\t\t\t\t\tments or bank guarantees from customers, when considered needed. \u00a0
\n\t\t\t\t\tThus, insurance cover and similar measures to hedge receivables are \u00a0
\n\t\t\t\t\trarely applied as NKT historically has had only few material losses. \u00a0
",
"dimensions": {
"concept": "ifrs-full:DisclosureOfFinancialRiskManagementExplanatory",
"language": "en",
"entity": "scheme:529900197LKWCEQ0NL18",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"fact2422": {
"value": "5.1 Share capital \u00a0
\n\t\t\t\t\tNKT A/S\u2019 share capital consists of shares with a nominal value of DKK 20 each. No shares \u00a0
\n\t\t\t\t\tcarry special rights. NKT A/S\u2019 Articles of Association specify no limits in respect of owner- \u00a0
\n\t\t\t\t\tship or voting right, and Group Management is unaware of any agreements in this regard. \u00a0
\n\t\t\t\t\tDistribution of dividend to shareholders of NKT A/S has no tax consequences for the company. \u00a0
\n\t\t\t\t\tAs per 31 December 2022 share capital comprised 42,976,036 shares of nominal value \u00a0
\n\t\t\t\t\tof DKK 20 per share. Share capital has been unchanged in 2022 and 2021. During 2022, \u00a0
\n\t\t\t\t\t75,000 treasury shares were purchased of which 16,055 are held at 31 December 2022. \u00a0
",
"dimensions": {
"concept": "ifrs-full:DisclosureOfIssuedCapitalExplanatory",
"language": "en",
"entity": "scheme:529900197LKWCEQ0NL18",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"fact2431": {
"value": "5.2 Earnings per share \u00a0
\n\t\t\t\t\tAmounts in EURm \u00a0
\n\t\t\t\t\t2022 \u00a0
\n\t\t\t\t\t2021 \u00a0
\n\t\t\t\t\tProfit attributable to equity holders \u00a0
\n\t\t\t\t\t53.8 \u00a0
\n\t\t\t\t\t-4.0 \u00a0
\n\t\t\t\t\tWeighted average number of ordinary \u00a0
\n\t\t\t\t\tshares adjusted for the effect of dilution \u00a0
\n\t\t\t\t\t43,094,255 \u00a0
\n\t\t\t\t\t43,090,596 \u00a0
\n\t\t\t\t\tBasic earnings - continuing operations, \u00a0
\n\t\t\t\t\tEUR, per share (EPS) \u00a0
\n\t\t\t\t\t1.1 \u00a0
\n\t\t\t\t\t0.1 \u00a0
\n\t\t\t\t\tDiluted earnings - continuing operations, \u00a0
\n\t\t\t\t\tEUR, per share (EPS-D) \u00a0
\n\t\t\t\t\t1.1 \u00a0
\n\t\t\t\t\t0.1 \u00a0
\n\t\t\t\t\tBasic earnings per share, EUR \u00a0
\n\t\t\t\t\t1.3 \u00a0
\n\t\t\t\t\t-0.1 \u00a0
\n\t\t\t\t\tDiluted earnings per share, EUR \u00a0
\n\t\t\t\t\t1.2 \u00a0
\n\t\t\t\t\t-0.1 \u00a0
\n\t\t\t\t\tThere has been no transactions between the balance sheet date and the \u00a0
\n\t\t\t\t\tdate of publication of this Annual Report, that have significantly changed \u00a0
\n\t\t\t\t\tthe number of shares or potential shares in NKT A/S. \u00a0
",
"dimensions": {
"concept": "ifrs-full:DisclosureOfEarningsPerShareExplanatory",
"language": "en",
"entity": "scheme:529900197LKWCEQ0NL18",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"fact2423": {
"value": "2. For the period until 31 March 2026 the Board of Directors is authorized to arrange for ac- \u00a0
\n\t\t\t\t\tquisition of the Company\u2019s own shares up to a nominal value of 10% of the share capital. \u00a0
\n\t\t\t\t\tThe purchase price for such shares may not deviate more than 10 per cent from the price \u00a0
\n\t\t\t\t\tquoted on Nasdaq Copenhagen at the time of acquisition. The price quoted at the time of \u00a0
\n\t\t\t\t\tacquisition shall mean Nasdaq Copenhagen closing price - all transactions at 5 p.m. \u00a0
",
"dimensions": {
"concept": "ifrs-full:DisclosureOfTreasurySharesExplanatory",
"language": "en",
"entity": "scheme:529900197LKWCEQ0NL18",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"fact2424": {
"value": "3. In the period until 30 April 2025 loans may be raised against bonds or debt instruments in \u00a0
\n\t\t\t\t\tone of several transactions with a right for the lender to convert this claim to shares, each \u00a0
\n\t\t\t\t\tof a nominal value of DKK 20, up to a maximum nominal amount of DKK 128m (6.4 mil- \u00a0
\n\t\t\t\t\tlion new shares). This mandate is equally capped to DKK 41,119,820 due to the capital \u00a0
\n\t\t\t\t\tincreases in 2020. \u00a0
5.4 Net interest-bearing debt \u00a0
\n\t\t\t\t\tNet interest-bearing debt \u00a0
\n\t\t\t\t\tNet interest-bearing debt incl. liabilities associated with assets held for \u00a0
\n\t\t\t\t\tsale end 2022 was EUR -54.8m (EUR 13.2m end-2021), corresponding \u00a0
\n\t\t\t\t\tto an decrease of EUR 68.0m. The decrease was driven by the improved \u00a0
\n\t\t\t\t\tresult as well as improved working capital. \u00a0
\n\t\t\t\t\tIn addition to the hybrid security mentioned in note 5.3 and Revolving \u00a0
\n\t\t\t\t\tCredit Facility (RCF) mentioned in note 5.6, NKT Group has mortgage \u00a0
\n\t\t\t\t\tdebt of EUR 139.8m (EUR 154.3m in 2021). \u00a0
\n\t\t\t\t\tNet interest-bearing debt includes debt related to capitalized lease \u00a0
\n\t\t\t\t\tcontracts of EUR 37.6m (EUR 50.2m in 2021). Of this amount, EUR \u00a0
\n\t\t\t\t\t32.1m was recognized as non-current (EUR 42.5m in 2021), and EUR \u00a0
\n\t\t\t\t\t5.5m as current debt (EUR 7.7m in 2021). In 2022, payments related to \u00a0
\n\t\t\t\t\tcapitalized lease contracts amounted to EUR 7.1m (EUR 9.4m in 2021), \u00a0
\n\t\t\t\t\tof which EUR 5.3m was installments on the debt (EUR 7.3m in 2021) \u00a0
\n\t\t\t\t\tand the remaining amount, EUR 1.8m (EUR 2.1m in 2021), was interest \u00a0
\n\t\t\t\t\texpenses recognized in financial items in the income statement. \u00a0
Amounts in EURm \u00a0
\n\t\t\t\t\t2022 \u00a0
\n\t\t\t\t\t2021 \u00a0
\n\t\t\t\t\tNet interest-bearing debt comprise: \u00a0
\n\t\t\t\t\tNon-current loans \u00a0
\n\t\t\t\t\t180.9 \u00a0
\n\t\t\t\t\t196.4 \u00a0
\n\t\t\t\t\tCurrent loans \u00a0
\n\t\t\t\t\t14.9 \u00a0
\n\t\t\t\t\t17.5 \u00a0
\n\t\t\t\t\tInterest-bearing debt, gross \u00a0
\n\t\t\t\t\t195.8 \u00a0
\n\t\t\t\t\t213.9 \u00a0
\n\t\t\t\t\tInterest-bearing receivables \u00a0
\n\t\t\t\t\t0.2 \u00a0
\n\t\t\t\t\t0.2 \u00a0
\n\t\t\t\t\tCash at bank and in hand \u00a0
\n\t\t\t\t\t258.5 \u00a0
\n\t\t\t\t\t200.5 \u00a0
\n\t\t\t\t\tNet interest-bearing debt \u00a0
\n\t\t\t\t\t-62.9 \u00a0
\n\t\t\t\t\t13.2 \u00a0
\n\t\t\t\t\tNet interest-bearing debt presented as assets held for sale \u00a0
\n\t\t\t\t\t8.1 \u00a0
\n\t\t\t\t\t0.0 \u00a0
\n\t\t\t\t\tNet interest-bearing debt incl. assets held for sale \u00a0
\n\t\t\t\t\t-54.8 \u00a0
\n\t\t\t\t\t13.2 \u00a0
Changes in current loans, non-current loans and lease liabilities \u00a0
\n\t\t\t\t\tLiabilities \u00a0
\n\t\t\t\t\tEffect of \u00a0
\n\t\t\t\t\tChanges \u00a0
\n\t\t\t\t\tassociated \u00a0
\n\t\t\t\t\tchanges in \u00a0
\n\t\t\t\t\tfrom \u00a0
\n\t\t\t\t\tChanges \u00a0
\n\t\t\t\t\tAcquisitions \u00a0
\n\t\t\t\t\twith assets \u00a0
\n\t\t\t\t\texchange \u00a0
\n\t\t\t\t\tAmounts in EURm \u00a0
\n\t\t\t\t\t1 January \u00a0
\n\t\t\t\t\tcash flow \u00a0
\n\t\t\t\t\tin leases \u00a0
\n\t\t\t\t\tof business \u00a0
\n\t\t\t\t\theld for sale \u00a0
\n\t\t\t\t\trates 31
December \u00a0
\n\t\t\t\t\tCurrent and non-current loans1, 2022 \u00a0
\n\t\t\t\t\t213.9 \u00a0
\n\t\t\t\t\t-5.9 \u00a0
\n\t\t\t\t\t-4.5 \u00a0
\n\t\t\t\t\t5.5 \u00a0
\n\t\t\t\t\t-8.6 \u00a0
\n\t\t\t\t\t-4.6 \u00a0
\n\t\t\t\t\t195.8 \u00a0
\n\t\t\t\t\tCurrent and non-current loans1, 2021 \u00a0
\n\t\t\t\t\t213.4 \u00a0
\n\t\t\t\t\t-5.6 \u00a0
\n\t\t\t\t\t4.1 \u00a0
\n\t\t\t\t\t0.0 \u00a0
\n\t\t\t\t\t0.0 \u00a0
\n\t\t\t\t\t2.0 \u00a0
\n\t\t\t\t\t213.9 \u00a0
\n\t\t\t\t\t1
\n\t\t\t\t\tCurrent and non-current loans include leasing liabilities \u00a0
Changes in current loans, non-current loans and lease liabilities \u00a0
\n\t\t\t\t\tLess than \u00a0
\n\t\t\t\t\tMore than \u00a0
\n\t\t\t\t\tAmounts in EURm \u00a0
\n\t\t\t\t\t1 year \u00a0
\n\t\t\t\t\t1-3 years \u00a0
\n\t\t\t\t\t3-5 years \u00a0
\n\t\t\t\t\t5 years \u00a0
\n\t\t\t\t\tTotal \u00a0
\n\t\t\t\t\t2022 \u00a0
\n\t\t\t\t\tInterest-bearing loans and borrowings1 \u00a0
\n\t\t\t\t\t14.9 \u00a0
\n\t\t\t\t\t35.6 \u00a0
\n\t\t\t\t\t24.1 \u00a0
\n\t\t\t\t\t121.2 \u00a0
\n\t\t\t\t\t195.8 \u00a0
\n\t\t\t\t\tHereof leasing liabilities \u00a0
\n\t\t\t\t\t5.5 \u00a0
\n\t\t\t\t\t8.0 \u00a0
\n\t\t\t\t\t6.0 \u00a0
\n\t\t\t\t\t18.1 \u00a0
\n\t\t\t\t\t37.6 \u00a0
\n\t\t\t\t\tTrade payables \u00a0
\n\t\t\t\t\t351.0 \u00a0
\n\t\t\t\t\t351.0 \u00a0
\n\t\t\t\t\tPrepayments \u00a0
\n\t\t\t\t\t18.4 \u00a0
\n\t\t\t\t\t18.4 \u00a0
\n\t\t\t\t\tDerivative Financial liabilities \u00a0
\n\t\t\t\t\t76.6 \u00a0
\n\t\t\t\t\t76.6 \u00a0
\n\t\t\t\t\tOther payables \u00a0
\n\t\t\t\t\t147.1 \u00a0
\n\t\t\t\t\t147.1 \u00a0
\n\t\t\t\t\tTotal \u00a0
\n\t\t\t\t\t608.0 \u00a0
\n\t\t\t\t\t35.6 \u00a0
\n\t\t\t\t\t24.1 \u00a0
\n\t\t\t\t\t121.2 \u00a0
\n\t\t\t\t\t788.9 \u00a0
\n\t\t\t\t\t2021 \u00a0
\n\t\t\t\t\tInterest-bearing loans and borrowings1 \u00a0
\n\t\t\t\t\t17.5 \u00a0
\n\t\t\t\t\t39.0 \u00a0
\n\t\t\t\t\t36.6 \u00a0
\n\t\t\t\t\t120.8 \u00a0
\n\t\t\t\t\t213.9 \u00a0
\n\t\t\t\t\tHereof leasing liabilities \u00a0
\n\t\t\t\t\t7.7 \u00a0
\n\t\t\t\t\t12.3 \u00a0
\n\t\t\t\t\t7.9 \u00a0
\n\t\t\t\t\t22.3 \u00a0
\n\t\t\t\t\t50.2 \u00a0
\n\t\t\t\t\tTrade payables \u00a0
\n\t\t\t\t\t341.8 \u00a0
\n\t\t\t\t\t341.8 \u00a0
\n\t\t\t\t\tPrepayments \u00a0
\n\t\t\t\t\t7.8 \u00a0
\n\t\t\t\t\t7.8 \u00a0
\n\t\t\t\t\tDerivative Financial liabilities \u00a0
\n\t\t\t\t\t14.6 \u00a0
\n\t\t\t\t\t14.6 \u00a0
\n\t\t\t\t\tOther payables \u00a0
\n\t\t\t\t\t155.8 \u00a0
\n\t\t\t\t\t155.8 \u00a0
\n\t\t\t\t\tTotal \u00a0
\n\t\t\t\t\t537.5 \u00a0
\n\t\t\t\t\t39.0 \u00a0
\n\t\t\t\t\t36.6 \u00a0
\n\t\t\t\t\t120.8 \u00a0
\n\t\t\t\t\t733.9 \u00a0
\n\t\t\t\t\t1
\n\t\t\t\t\tInterest-bearing loans and borrowings include leasing liabilities recognized in the balance sheet, but not short-term and low-value leases. These are specified in note 3.2. \u00a0
The items in the table do not include interest. The forward contracts are \u00a0
\n\t\t\t\t\trecognized at fair value and the discount element is considered insignifi- \u00a0
\n\t\t\t\t\tcant because of short maturity. \u00a0
\n\t\t\t\t\tInterest-bearing loans and borrowings are consequently recognized in \u00a0
\n\t\t\t\t\tthe balance sheet at the amounts stated in the table. Interest-bearing \u00a0
\n\t\t\t\t\tloans and borrowings are predominantly based on floating interest rates \u00a0
\n\t\t\t\t\tand are measured at amortized cost. The carrying amount therefore in all \u00a0
\n\t\t\t\t\tmaterial aspects corresponds to fair value and nominal value. \u00a0
Accounting policy \u00a0
\n\t\t\t\t\tInterest-bearing loans and borrowings are recognized at the amount \u00a0
\n\t\t\t\t\tof proceeds received at the date of borrowing, net of transaction costs \u00a0
\n\t\t\t\t\tpaid. In subsequent periods the financial liabilities are measured at \u00a0
\n\t\t\t\t\tamortized cost using \u2018the effective interest method\u2019, and the difference \u00a0
\n\t\t\t\t\tbetween the proceeds and the nominal value is therefore being recog- \u00a0
\n\t\t\t\t\tnized in the income statement under financial expenses over the term of \u00a0
\n\t\t\t\t\tthe loan. \u00a0
\n\t\t\t\t\tInterest-bearing loans and borrowings also include the capitalized residu- \u00a0
\n\t\t\t\t\tal lease obligations on finance leases measured at amortized cost. \u00a0
",
"dimensions": {
"concept": "ifrs-full:DisclosureOfDebtSecuritiesExplanatory",
"language": "en",
"entity": "scheme:529900197LKWCEQ0NL18",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"fact2432": {
"value": "Accounting policy \u00a0
\n\t\t\t\t\tDividend is recognized as a liability at the date of adoption at the Annual General Meeting \u00a0
\n\t\t\t\t\t(declaration date). Proposed dividend payments for the year are disclosed as a separate \u00a0
\n\t\t\t\t\titem under equity. Interim dividend is recognized as a liability at the date when the decision \u00a0
\n\t\t\t\t\tto pay such dividend is made. \u00a0
Acquisition costs, consideration received, and dividends relating to treasury shares, are \u00a0
\n\t\t\t\t\trecognized directly in retained comprehensive income in equity. \u00a0
Accounting policy \u00a0
\n\t\t\t\t\tHybrid capital is treated in accordance with the rules on compound \u00a0
\n\t\t\t\t\tfinancial instruments based on the characteristics of the bonds. The \u00a0
\n\t\t\t\t\tnotional amount, which constitutes a liability, is recognized at present \u00a0
\n\t\t\t\t\tvalue, and equity has been increased by the difference between the net \u00a0
\n\t\t\t\t\tproceeds received and the present value of the discounted liability. The \u00a0
\n\t\t\t\t\tpart of the hybrid capital that is accounted for as a liability is measured \u00a0
\n\t\t\t\t\tat amortized cost. The carrying amount is zero on initial recognition and \u00a0
\n\t\t\t\t\tdue to the 1,000-year term of the hybrid capital, amortization charges \u00a0
\n\t\t\t\t\twill only have an impact on the income statement for the years at the \u00a0
\n\t\t\t\t\tend of the 1,000-year term of the hybrid capital. \u00a0
\n\t\t\t\t\tCoupon payments are accounted for as dividends and are recognized \u00a0
\n\t\t\t\t\tdirectly in equity when the obligation to pay arises. \u00a0
\n\t\t\t\t\tThe obligation to pay coupon payments is at the discretion of Group \u00a0
\n\t\t\t\t\tManagement and deferred coupon lapses upon maturity of the hybrid \u00a0
\n\t\t\t\t\tcapital. Coupon payments are recognized in the statement of cash flows \u00a0
\n\t\t\t\t\tin the same way as dividend payments within financing activities. \u00a0
\n\t\t\t\t\tOn redemption of the hybrid capital, the payment will be distributed \u00a0
\n\t\t\t\t\tbetween liability and equity, applying the same principles as used when \u00a0
\n\t\t\t\t\tthe hybrid capital was issued. The difference between the payment on \u00a0
\n\t\t\t\t\tredemption and the net proceeds received on issue is recognized directly \u00a0
\n\t\t\t\t\tin equity as the debt portion of the existing hybrid issues will be nil during \u00a0
\n\t\t\t\t\tthe first part of the life of the hybrid capital. \u00a0
\n\t\t\t\t\tOn the date on which the Board of Directors decides to exercise an op- \u00a0
\n\t\t\t\t\ttion to redeem the hybrid capital, the part of the hybrid capital that will be \u00a0
\n\t\t\t\t\tredeemed will be reclassified to loans and borrowings. The reclassifica- \u00a0
\n\t\t\t\t\ttion will be made at the market value of the hybrid capital at the date the \u00a0
\n\t\t\t\t\tdecision is made. Following the reclassification, coupon payments and \u00a0
\n\t\t\t\t\texchange rate adjustments will be recognized in the income statement \u00a0
\n\t\t\t\t\tas financial income or expenses. \u00a0
",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForIssuedCapitalExplanatory",
"language": "en",
"entity": "scheme:529900197LKWCEQ0NL18",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"fact2435": {
"value": "Accounting policy \u00a0
\n\t\t\t\t\tDividend is recognized as a liability at the date of adoption at the Annual General Meeting \u00a0
\n\t\t\t\t\t(declaration date). Proposed dividend payments for the year are disclosed as a separate \u00a0
\n\t\t\t\t\titem under equity. Interim dividend is recognized as a liability at the date when the decision \u00a0
\n\t\t\t\t\tto pay such dividend is made. \u00a0
",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForDividendsExplanatory",
"language": "en",
"entity": "scheme:529900197LKWCEQ0NL18",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"fact2436": {
"value": "Acquisition costs, consideration received, and dividends relating to treasury shares, are \u00a0
\n\t\t\t\t\trecognized directly in retained comprehensive income in equity. \u00a0
",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForTreasurySharesExplanatory",
"language": "en",
"entity": "scheme:529900197LKWCEQ0NL18",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"fact2437": {
"value": "5.3 Hybrid capital \u00a0
\n\t\t\t\t\tFor 2022, hybrid capital comprise issued bonds from September 2022 of \u00a0
\n\t\t\t\t\tEUR 150m. For 2021, hybrid capital comprose issued bonds from Sep- \u00a0
\n\t\t\t\t\ttember 2018 of EUR 150m. In 2022, the
hybrid capital from September \u00a0
\n\t\t\t\t\t2018 was called and settled and a new hybrid bond was issued. \u00a0
\n\t\t\t\t\tThe issued hybrid capital in both 2022 and 2021 have been accounted \u00a0
\n\t\t\t\t\tfor as a hybrid capital reserve in equity. The classification is based on the \u00a0
\n\t\t\t\t\tspecial characteristics of the hybrid bond, where the bondholders are \u00a0
\n\t\t\t\t\tsubordinate to other creditors, and NKT A/S may defer and ultimately \u00a0
\n\t\t\t\t\tdecide not to pay the coupon. Any deferred coupons outstanding in \u00a0
\n\t\t\t\t\t3022 will be cancelled. However, deferred coupon payments become \u00a0
\n\t\t\t\t\tpayable if NKT A/S decides to pay dividends to shareholders. Coupon \u00a0
\n\t\t\t\t\tpayments are recognized in equity. For further details on the hybrid \u00a0
\n\t\t\t\t\tcapital for 2022 and 2021 please see table below. \u00a0
\n\t\t\t\t\tAs the principal of the securities ultimately falls due in 3022 (3018 in \u00a0
\n\t\t\t\t\t2021), its discounted fair value is zero due to the terms of the securities. \u00a0
\n\t\t\t\t\tTherefore, a liability of zero has been recognized in the balance sheet, \u00a0
\n\t\t\t\t\tand the full amount of the proceeds have been recognized as equity. \u00a0
\n\t\t\t\t\tCoupon payments are recognized in the statement of cash flows in the \u00a0
\n\t\t\t\t\tsame way as dividend payments within financing activities. \u00a0
Hybrid bonds \u00a0
\n\t\t\t\t\t2022 \u00a0
\n\t\t\t\t\t2021 \u00a0
\n\t\t\t\t\tNominal value of hybrid capital \u00a0
\n\t\t\t\t\tEUR 150.0m \u00a0
\n\t\t\t\t\tEUR 150.0m \u00a0
\n\t\t\t\t\tClassification in financial statement \u00a0
\n\t\t\t\t\tEquity \u00a0
\n\t\t\t\t\tEquity \u00a0
\n\t\t\t\t\tIssued \u00a0
\n\t\t\t\t\tSept. 2022 \u00a0
\n\t\t\t\t\tSept. 2018 \u00a0
\n\t\t\t\t\tMaturing \u00a0
\n\t\t\t\t\tJuly 3022 \u00a0
\n\t\t\t\t\tSept. 3018 \u00a0
\n\t\t\t\t\tFirst call date \u00a0
\n\t\t\t\t\t1 July 2026
12 Sept. 20221 \u00a0
\n\t\t\t\t\tInterests: \u00a0
\n\t\t\t\t\tFor the first four years \u00a0
\n\t\t\t\t\t7.240% \u00a0
\n\t\t\t\t\t5.375% \u00a0
\n\t\t\t\t\tFor the following years \u00a0
\n\t\t\t\t\tResets to the \u00a0
\n\t\t\t\t\tResets to the \u00a0
\n\t\t\t\t\t4-year EUR \u00a0
\n\t\t\t\t\t4-year EUR \u00a0
\n\t\t\t\t\tswap rate \u00a0
\n\t\t\t\t\tswap rate \u00a0
\n\t\t\t\t\tprevailing \u00a0
\n\t\t\t\t\tprevailing at \u00a0
\n\t\t\t\t\tat that time \u00a0
\n\t\t\t\t\tthat time plus \u00a0
\n\t\t\t\t\tplus 5% \u00a0
\n\t\t\t\t\t10.225% \u00a0
\n\t\t\t\t\tThe hybrid capital in 2021 was called and settled in 2022. \u00a0
In connection with the issue of the new hybrid capital in 2022, holders of \u00a0
\n\t\t\t\t\tthe previous hybrid capital had the option to roll-over their investment in \u00a0
\n\t\t\t\t\tthe new hybrid capital without any cash transactions. Therefore, the cash \u00a0
\n\t\t\t\t\tflow from the issue and repurchase of hybrid capitals are less than the \u00a0
\n\t\t\t\t\tnominal amount of the hybrids. Below is a specification of the cash flow \u00a0
\n\t\t\t\t\trelated to the hybrid capital transactions in 2022. \u00a0
Cash flow from new hybrid capital \u00a0
\n\t\t\t\t\t2022 \u00a0
\n\t\t\t\t\tIssue of new hybrid capital \u00a0
\n\t\t\t\t\t150.0 \u00a0
\n\t\t\t\t\tCosts associated with new hybrid capital \u00a0
\n\t\t\t\t\t-1.6 \u00a0
\n\t\t\t\t\tTransferring of former hybrid holders to new hybrid capital \u00a0
\n\t\t\t\t\t-86.7 \u00a0
\n\t\t\t\t\tProceeds from issurance of hybrid capital \u00a0
\n\t\t\t\t\t61.7 \u00a0
\n\t\t\t\t\tRepayment of previous hybrid capital \u00a0
\n\t\t\t\t\t-150.0 \u00a0
\n\t\t\t\t\tTransferring of former hybrid holders to new hybrid capital \u00a0
\n\t\t\t\t\t86.7 \u00a0
\n\t\t\t\t\tRepurchase of hybrid capital \u00a0
\n\t\t\t\t\t-63.3 \u00a0
On 11 August 2022, NKT A/S announced the notice of early redemption \u00a0
\n\t\t\t\t\tof all of its outstanding hybrid securities due 3018 with redemption date \u00a0
\n\t\t\t\t\t12 September 2022. As per 11 August 2022, the hybrid was there- \u00a0
\n\t\t\t\t\tfore treated as an interest-bearing liability and no longer as an equity \u00a0
\n\t\t\t\t\tinstrument. Consequently, the interests on the hybrid for the period up \u00a0
\n\t\t\t\t\tuntil 11 August 2022 are treated as dividend on the equity and interests \u00a0
\n\t\t\t\t\tfor the period after 11 August 2022 until redemption date are treated as \u00a0
\n\t\t\t\t\tfinancial items. \u00a0
",
"dimensions": {
"concept": "ifrs-full:DisclosureOfSubordinatedLiabilitiesExplanatory",
"language": "en",
"entity": "scheme:529900197LKWCEQ0NL18",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"fact2442": {
"value": "Accounting policy \u00a0
\n\t\t\t\t\tInterest-bearing loans and borrowings are recognized at the amount \u00a0
\n\t\t\t\t\tof proceeds received at the date of borrowing, net of transaction costs \u00a0
\n\t\t\t\t\tpaid. In subsequent periods the financial liabilities are measured at \u00a0
\n\t\t\t\t\tamortized cost using \u2018the effective interest method\u2019, and the difference \u00a0
\n\t\t\t\t\tbetween the proceeds and the nominal value is therefore being recog- \u00a0
\n\t\t\t\t\tnized in the income statement under financial expenses over the term of \u00a0
\n\t\t\t\t\tthe loan. \u00a0
\n\t\t\t\t\tInterest-bearing loans and borrowings also include the capitalized residu- \u00a0
\n\t\t\t\t\tal lease obligations on finance leases measured at amortized cost. \u00a0
",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForBorrowingsExplanatory",
"language": "en",
"entity": "scheme:529900197LKWCEQ0NL18",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"fact2443": {
"value": "5.5 Financial items \u00a0
\n\t\t\t\t\tFinancial income \u00a0
\n\t\t\t\t\tFinancial expenses \u00a0
\n\t\t\t\t\tNet financial items \u00a0
\n\t\t\t\t\tAmounts in EURm \u00a0
\n\t\t\t\t\t2022 \u00a0
\n\t\t\t\t\t2021 \u00a0
\n\t\t\t\t\t2022 \u00a0
\n\t\t\t\t\t2021 \u00a0
\n\t\t\t\t\t2022 \u00a0
\n\t\t\t\t\t2021 \u00a0
\n\t\t\t\t\tInterest etc. relating to financial assets/liabilities \u00a0
\n\t\t\t\t\tmeasured at amortized cost \u00a0
\n\t\t\t\t\t2.2 \u00a0
\n\t\t\t\t\t4.8 \u00a0
\n\t\t\t\t\t-6.4 \u00a0
\n\t\t\t\t\t-9.1 \u00a0
\n\t\t\t\t\t-4.2 \u00a0
\n\t\t\t\t\t-4.3 \u00a0
\n\t\t\t\t\tInterest expenses on leases \u00a0
\n\t\t\t\t\t0.0 \u00a0
\n\t\t\t\t\t0.0 \u00a0
\n\t\t\t\t\t-1.8 \u00a0
\n\t\t\t\t\t-1.8 \u00a0
\n\t\t\t\t\t-1.8 \u00a0
\n\t\t\t\t\t-1.8 \u00a0
\n\t\t\t\t\tTotal interest \u00a0
\n\t\t\t\t\t2.2 \u00a0
\n\t\t\t\t\t4.8 \u00a0
\n\t\t\t\t\t-8.2 \u00a0
\n\t\t\t\t\t-10.9 \u00a0
\n\t\t\t\t\t-6.0 \u00a0
\n\t\t\t\t\t-6.1 \u00a0
\n\t\t\t\t\tForeign exchange gains/losses \u00a0
\n\t\t\t\t\t50.4 \u00a0
\n\t\t\t\t\t20.5 \u00a0
\n\t\t\t\t\t-53.1 \u00a0
\n\t\t\t\t\t-17.3 \u00a0
\n\t\t\t\t\t-2.7 \u00a0
\n\t\t\t\t\t3.2 \u00a0
\n\t\t\t\t\tGain/loss on derivative financial instruments \u00a0
\n\t\t\t\t\t19.7 \u00a0
\n\t\t\t\t\t40.5 \u00a0
\n\t\t\t\t\t-1.9 \u00a0
\n\t\t\t\t\t-45.8 \u00a0
\n\t\t\t\t\t17.8 \u00a0
\n\t\t\t\t\t-5.3 \u00a0
\n\t\t\t\t\tTotal currency gain/losses \u00a0
\n\t\t\t\t\t70.1 \u00a0
\n\t\t\t\t\t61.0 \u00a0
\n\t\t\t\t\t-55.0 \u00a0
\n\t\t\t\t\t-63.1 \u00a0
\n\t\t\t\t\t15.1 \u00a0
\n\t\t\t\t\t-2.1 \u00a0
\n\t\t\t\t\tTotal financial items \u00a0
\n\t\t\t\t\t72.3 \u00a0
\n\t\t\t\t\t65.8 \u00a0
\n\t\t\t\t\t-63.2 \u00a0
\n\t\t\t\t\t-74.0 \u00a0
\n\t\t\t\t\t9.1 \u00a0
\n\t\t\t\t\t-8.2 \u00a0
",
"dimensions": {
"concept": "ifrs-full:DisclosureOfFinanceCostExplanatory",
"language": "en",
"entity": "scheme:529900197LKWCEQ0NL18",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"fact2444": {
"value": "5.5 Financial items \u00a0
\n\t\t\t\t\tFinancial income \u00a0
\n\t\t\t\t\tFinancial expenses \u00a0
\n\t\t\t\t\tNet financial items \u00a0
\n\t\t\t\t\tAmounts in EURm \u00a0
\n\t\t\t\t\t2022 \u00a0
\n\t\t\t\t\t2021 \u00a0
\n\t\t\t\t\t2022 \u00a0
\n\t\t\t\t\t2021 \u00a0
\n\t\t\t\t\t2022 \u00a0
\n\t\t\t\t\t2021 \u00a0
\n\t\t\t\t\tInterest etc. relating to financial assets/liabilities \u00a0
\n\t\t\t\t\tmeasured at amortized cost \u00a0
\n\t\t\t\t\t2.2 \u00a0
\n\t\t\t\t\t4.8 \u00a0
\n\t\t\t\t\t-6.4 \u00a0
\n\t\t\t\t\t-9.1 \u00a0
\n\t\t\t\t\t-4.2 \u00a0
\n\t\t\t\t\t-4.3 \u00a0
\n\t\t\t\t\tInterest expenses on leases \u00a0
\n\t\t\t\t\t0.0 \u00a0
\n\t\t\t\t\t0.0 \u00a0
\n\t\t\t\t\t-1.8 \u00a0
\n\t\t\t\t\t-1.8 \u00a0
\n\t\t\t\t\t-1.8 \u00a0
\n\t\t\t\t\t-1.8 \u00a0
\n\t\t\t\t\tTotal interest \u00a0
\n\t\t\t\t\t2.2 \u00a0
\n\t\t\t\t\t4.8 \u00a0
\n\t\t\t\t\t-8.2 \u00a0
\n\t\t\t\t\t-10.9 \u00a0
\n\t\t\t\t\t-6.0 \u00a0
\n\t\t\t\t\t-6.1 \u00a0
\n\t\t\t\t\tForeign exchange gains/losses \u00a0
\n\t\t\t\t\t50.4 \u00a0
\n\t\t\t\t\t20.5 \u00a0
\n\t\t\t\t\t-53.1 \u00a0
\n\t\t\t\t\t-17.3 \u00a0
\n\t\t\t\t\t-2.7 \u00a0
\n\t\t\t\t\t3.2 \u00a0
\n\t\t\t\t\tGain/loss on derivative financial instruments \u00a0
\n\t\t\t\t\t19.7 \u00a0
\n\t\t\t\t\t40.5 \u00a0
\n\t\t\t\t\t-1.9 \u00a0
\n\t\t\t\t\t-45.8 \u00a0
\n\t\t\t\t\t17.8 \u00a0
\n\t\t\t\t\t-5.3 \u00a0
\n\t\t\t\t\tTotal currency gain/losses \u00a0
\n\t\t\t\t\t70.1 \u00a0
\n\t\t\t\t\t61.0 \u00a0
\n\t\t\t\t\t-55.0 \u00a0
\n\t\t\t\t\t-63.1 \u00a0
\n\t\t\t\t\t15.1 \u00a0
\n\t\t\t\t\t-2.1 \u00a0
\n\t\t\t\t\tTotal financial items \u00a0
\n\t\t\t\t\t72.3 \u00a0
\n\t\t\t\t\t65.8 \u00a0
\n\t\t\t\t\t-63.2 \u00a0
\n\t\t\t\t\t-74.0 \u00a0
\n\t\t\t\t\t9.1 \u00a0
\n\t\t\t\t\t-8.2 \u00a0
",
"dimensions": {
"concept": "ifrs-full:DisclosureOfFinanceIncomeExpenseExplanatory",
"language": "en",
"entity": "scheme:529900197LKWCEQ0NL18",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"fact2445": {
"value": "5.5 Financial items \u00a0
\n\t\t\t\t\tFinancial income \u00a0
\n\t\t\t\t\tFinancial expenses \u00a0
\n\t\t\t\t\tNet financial items \u00a0
\n\t\t\t\t\tAmounts in EURm \u00a0
\n\t\t\t\t\t2022 \u00a0
\n\t\t\t\t\t2021 \u00a0
\n\t\t\t\t\t2022 \u00a0
\n\t\t\t\t\t2021 \u00a0
\n\t\t\t\t\t2022 \u00a0
\n\t\t\t\t\t2021 \u00a0
\n\t\t\t\t\tInterest etc. relating to financial assets/liabilities \u00a0
\n\t\t\t\t\tmeasured at amortized cost \u00a0
\n\t\t\t\t\t2.2 \u00a0
\n\t\t\t\t\t4.8 \u00a0
\n\t\t\t\t\t-6.4 \u00a0
\n\t\t\t\t\t-9.1 \u00a0
\n\t\t\t\t\t-4.2 \u00a0
\n\t\t\t\t\t-4.3 \u00a0
\n\t\t\t\t\tInterest expenses on leases \u00a0
\n\t\t\t\t\t0.0 \u00a0
\n\t\t\t\t\t0.0 \u00a0
\n\t\t\t\t\t-1.8 \u00a0
\n\t\t\t\t\t-1.8 \u00a0
\n\t\t\t\t\t-1.8 \u00a0
\n\t\t\t\t\t-1.8 \u00a0
\n\t\t\t\t\tTotal interest \u00a0
\n\t\t\t\t\t2.2 \u00a0
\n\t\t\t\t\t4.8 \u00a0
\n\t\t\t\t\t-8.2 \u00a0
\n\t\t\t\t\t-10.9 \u00a0
\n\t\t\t\t\t-6.0 \u00a0
\n\t\t\t\t\t-6.1 \u00a0
\n\t\t\t\t\tForeign exchange gains/losses \u00a0
\n\t\t\t\t\t50.4 \u00a0
\n\t\t\t\t\t20.5 \u00a0
\n\t\t\t\t\t-53.1 \u00a0
\n\t\t\t\t\t-17.3 \u00a0
\n\t\t\t\t\t-2.7 \u00a0
\n\t\t\t\t\t3.2 \u00a0
\n\t\t\t\t\tGain/loss on derivative financial instruments \u00a0
\n\t\t\t\t\t19.7 \u00a0
\n\t\t\t\t\t40.5 \u00a0
\n\t\t\t\t\t-1.9 \u00a0
\n\t\t\t\t\t-45.8 \u00a0
\n\t\t\t\t\t17.8 \u00a0
\n\t\t\t\t\t-5.3 \u00a0
\n\t\t\t\t\tTotal currency gain/losses \u00a0
\n\t\t\t\t\t70.1 \u00a0
\n\t\t\t\t\t61.0 \u00a0
\n\t\t\t\t\t-55.0 \u00a0
\n\t\t\t\t\t-63.1 \u00a0
\n\t\t\t\t\t15.1 \u00a0
\n\t\t\t\t\t-2.1 \u00a0
\n\t\t\t\t\tTotal financial items \u00a0
\n\t\t\t\t\t72.3 \u00a0
\n\t\t\t\t\t65.8 \u00a0
\n\t\t\t\t\t-63.2 \u00a0
\n\t\t\t\t\t-74.0 \u00a0
\n\t\t\t\t\t9.1 \u00a0
\n\t\t\t\t\t-8.2 \u00a0
Financial income and expenses comprise interest, dividends, gain/loss \u00a0
\n\t\t\t\t\ton securities, receivables and transactions denominated in foreign cur- \u00a0
\n\t\t\t\t\trencies, amortization of financial assets and liabilities, allowances under \u00a0
\n\t\t\t\t\tthe Danish tax prepayment scheme, as well as changes in the fair value \u00a0
\n\t\t\t\t\tof derivative financial instruments not designated as hedges. \u00a0
",
"dimensions": {
"concept": "ifrs-full:DisclosureOfFinanceIncomeExplanatory",
"language": "en",
"entity": "scheme:529900197LKWCEQ0NL18",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"fact2447": {
"value": "Financial income and expenses comprise interest, dividends, gain/loss \u00a0
\n\t\t\t\t\ton securities, receivables and transactions denominated in foreign cur- \u00a0
\n\t\t\t\t\trencies, amortization of financial assets and liabilities, allowances under \u00a0
\n\t\t\t\t\tthe Danish tax prepayment scheme, as well as changes in the fair value \u00a0
\n\t\t\t\t\tof derivative financial instruments not designated as hedges. \u00a0
Accounting policy \u00a0
\n\t\t\t\t\tChanges in market values of currency and interest rate derivatives not \u00a0
\n\t\t\t\t\tentered into with the purpose of hedging an exposure, are recognized in \u00a0
\n\t\t\t\t\tfinancial income or expenses respectively. \u00a0
5.6 Financial risks and financial instruments \u00a0
Sensitivity analysis - financial instruments \u00a0
\n\t\t\t\t\tEURm \u00a0
\n\t\t\t\t\t2022 \u00a0
\n\t\t\t\t\t2021 \u00a0
\n\t\t\t\t\tEffect on \u00a0
\n\t\t\t\t\tEffect \u00a0
\n\t\t\t\t\tEffect on \u00a0
\n\t\t\t\t\tEffect \u00a0
\n\t\t\t\t\tearnings \u00a0
\n\t\t\t\t\ton equity \u00a0
\n\t\t\t\t\tearnings \u00a0
\n\t\t\t\t\ton equity \u00a0
\n\t\t\t\t\tRisk \u00a0
\n\t\t\t\t\tPrice change \u00a0
\n\t\t\t\t\tbefore tax \u00a0
\n\t\t\t\t\tbefore tax \u00a0
\n\t\t\t\t\tbefore tax \u00a0
\n\t\t\t\t\tbefore tax \u00a0
\n\t\t\t\t\tSEK \u00a0
\n\t\t\t\t\t10% \u00a0
\n\t\t\t\t\t-43.7 \u00a0
\n\t\t\t\t\t62.5 \u00a0
\n\t\t\t\t\t11.4 \u00a0
\n\t\t\t\t\t-3.1 \u00a0
\n\t\t\t\t\t-10% \u00a0
\n\t\t\t\t\t43.7 \u00a0
\n\t\t\t\t\t-62.5 \u00a0
\n\t\t\t\t\t-11.4 \u00a0
\n\t\t\t\t\t3.1 \u00a0
\n\t\t\t\t\tGBP \u00a0
\n\t\t\t\t\t10% \u00a0
\n\t\t\t\t\t0.3 \u00a0
\n\t\t\t\t\t-22.8 \u00a0
\n\t\t\t\t\t0.0 \u00a0
\n\t\t\t\t\t3.1 \u00a0
\n\t\t\t\t\t-10% \u00a0
\n\t\t\t\t\t-0.3 \u00a0
\n\t\t\t\t\t22.8 \u00a0
\n\t\t\t\t\t0.0 \u00a0
\n\t\t\t\t\t-3.1 \u00a0
\n\t\t\t\t\tNOK \u00a0
\n\t\t\t\t\t10% \u00a0
\n\t\t\t\t\t0.0 \u00a0
\n\t\t\t\t\t2.6 \u00a0
\n\t\t\t\t\t0.2 \u00a0
\n\t\t\t\t\t-3.8 \u00a0
\n\t\t\t\t\t-10% \u00a0
\n\t\t\t\t\t0.0 \u00a0
\n\t\t\t\t\t-2.6 \u00a0
\n\t\t\t\t\t-0.2 \u00a0
\n\t\t\t\t\t3.8 \u00a0
\n\t\t\t\t\tUSD \u00a0
\n\t\t\t\t\t10% \u00a0
\n\t\t\t\t\t0.0 \u00a0
\n\t\t\t\t\t-29.4 \u00a0
\n\t\t\t\t\t-0.2 \u00a0
\n\t\t\t\t\t2.6 \u00a0
\n\t\t\t\t\t-10% \u00a0
\n\t\t\t\t\t0.0 \u00a0
\n\t\t\t\t\t29.4 \u00a0
\n\t\t\t\t\t0.2 \u00a0
\n\t\t\t\t\t-2.6 \u00a0
\n\t\t\t\t\tCZK \u00a0
\n\t\t\t\t\t10% \u00a0
\n\t\t\t\t\t-0.8 \u00a0
\n\t\t\t\t\t-0.4 \u00a0
\n\t\t\t\t\t3.4 \u00a0
\n\t\t\t\t\t0.0 \u00a0
\n\t\t\t\t\t-10% \u00a0
\n\t\t\t\t\t0.8 \u00a0
\n\t\t\t\t\t0.4 \u00a0
\n\t\t\t\t\t-3.4 \u00a0
\n\t\t\t\t\t0.0 \u00a0
\n\t\t\t\t\tPLN \u00a0
\n\t\t\t\t\t10% \u00a0
\n\t\t\t\t\t3.6 \u00a0
\n\t\t\t\t\t0.0 \u00a0
\n\t\t\t\t\t-7.2 \u00a0
\n\t\t\t\t\t0.0 \u00a0
\n\t\t\t\t\t-10% \u00a0
\n\t\t\t\t\t-3.6 \u00a0
\n\t\t\t\t\t0.0 \u00a0
\n\t\t\t\t\t7.2 \u00a0
\n\t\t\t\t\t0.0 \u00a0
\n\t\t\t\t\tCopper \u00a0
\n\t\t\t\t\t10% \u00a0
\n\t\t\t\t\t0.0 \u00a0
\n\t\t\t\t\t54.5 \u00a0
\n\t\t\t\t\t0.0 \u00a0
\n\t\t\t\t\t62.3 \u00a0
\n\t\t\t\t\t-10% \u00a0
\n\t\t\t\t\t0.0 \u00a0
\n\t\t\t\t\t-54.5 \u00a0
\n\t\t\t\t\t0.0 \u00a0
\n\t\t\t\t\t-62.3 \u00a0
\n\t\t\t\t\tLead \u00a0
\n\t\t\t\t\t10% \u00a0
\n\t\t\t\t\t0.0 \u00a0
\n\t\t\t\t\t1.9 \u00a0
\n\t\t\t\t\t0.0 \u00a0
\n\t\t\t\t\t1.5 \u00a0
\n\t\t\t\t\t-10% \u00a0
\n\t\t\t\t\t0.0 \u00a0
\n\t\t\t\t\t-1.9 \u00a0
\n\t\t\t\t\t0.0 \u00a0
\n\t\t\t\t\t-1.5 \u00a0
\n\t\t\t\t\tAluminium \u00a0
\n\t\t\t\t\t10% \u00a0
\n\t\t\t\t\t0.0 \u00a0
\n\t\t\t\t\t-1.1 \u00a0
\n\t\t\t\t\t0.0 \u00a0
\n\t\t\t\t\t0.9 \u00a0
\n\t\t\t\t\t-10% \u00a0
\n\t\t\t\t\t0.0 \u00a0
\n\t\t\t\t\t1.1 \u00a0
\n\t\t\t\t\t0.0 \u00a0
\n\t\t\t\t\t-0.9 \u00a0
\n\t\t\t\t\tGas-oil \u00a0
\n\t\t\t\t\t10% \u00a0
\n\t\t\t\t\t0.0 \u00a0
\n\t\t\t\t\t2.3 \u00a0
\n\t\t\t\t\t0.0 \u00a0
\n\t\t\t\t\t1.8 \u00a0
\n\t\t\t\t\t-10% \u00a0
\n\t\t\t\t\t0.0 \u00a0
\n\t\t\t\t\t-2.3 \u00a0
\n\t\t\t\t\t0.0 \u00a0
\n\t\t\t\t\t-1.8 \u00a0
\n\t\t\t\t\tInterest rate \u00a0
\n\t\t\t\t\t1%-point \u00a0
\n\t\t\t\t\t0.0 \u00a0
\n\t\t\t\t\t0.8 \u00a0
\n\t\t\t\t\t0.0 \u00a0
\n\t\t\t\t\t0.8 \u00a0
\n\t\t\t\t\t-1%-point \u00a0
\n\t\t\t\t\t0.0 \u00a0
\n\t\t\t\t\t-0.8 \u00a0
\n\t\t\t\t\t0.0 \u00a0
\n\t\t\t\t\t-0.8 \u00a0
\n\t\t\t\t\tThe table above shows a sensitivity analysis of the exposures in currency, commodities and interest rates \u00a0
\n\t\t\t\t\tassuming effective hedge accounting is continued to be applied. The presented effects are from the financial \u00a0
\n\t\t\t\t\tinstruments only (all things being equal). When also considering the development of the underlying exposure the \u00a0
\n\t\t\t\t\tfuture income statement effects, will be fully or partially offset as hedge accounting is applied. \u00a0
Cash flow hedges related to \u00a0
\n\t\t\t\t\tNotional value \u00a0
\n\t\t\t\t\tNotional value \u00a0
\n\t\t\t\t\tFair value \u00a0
\n\t\t\t\t\tthe most significant currencies \u00a0
\n\t\t\t\t\tAverage exchange rate1 \u00a0
\n\t\t\t\t\tLocal currency in million \u00a0
\n\t\t\t\t\tEURm \u00a0
\n\t\t\t\t\tEURm \u00a0
\n\t\t\t\t\tLocal currency \u00a0
\n\t\t\t\t\t31 Dec 2022 \u00a0
\n\t\t\t\t\t31 Dec 2021 \u00a0
\n\t\t\t\t\t31 Dec 2022 \u00a0
\n\t\t\t\t\t31 Dec 2021 \u00a0
\n\t\t\t\t\t31 Dec 2022 \u00a0
\n\t\t\t\t\t31 Dec 2021 \u00a0
\n\t\t\t\t\t31 Dec 2022 \u00a0
\n\t\t\t\t\t31 Dec 2021 \u00a0
\n\t\t\t\t\tSEK2 \u00a0
\n\t\t\t\t\tBuy \u00a0
\n\t\t\t\t\tLess than 1 year \u00a0
\n\t\t\t\t\t0.0943 \u00a0
\n\t\t\t\t\t0.0927 \u00a0
\n\t\t\t\t\t7,661.54 \u00a0
\n\t\t\t\t\t334.18 \u00a0
\n\t\t\t\t\t722.30 \u00a0
\n\t\t\t\t\t30.99 \u00a0
\n\t\t\t\t\t-35.8 \u00a0
\n\t\t\t\t\t1.3 \u00a0
\n\t\t\t\t\tMore than 1 year \u00a0
\n\t\t\t\t\t0.0938 \u00a0
\n\t\t\t\t\t0.0915 \u00a0
\n\t\t\t\t\t8,963.35 \u00a0
\n\t\t\t\t\t23.82 \u00a0
\n\t\t\t\t\t840.94 \u00a0
\n\t\t\t\t\t2.18 \u00a0
\n\t\t\t\t\t-37.8 \u00a0
\n\t\t\t\t\t0.1 \u00a0
\n\t\t\t\t\tSell \u00a0
\n\t\t\t\t\tLess than 1 year \u00a0
\n\t\t\t\t\t0.0926 \u00a0
\n\t\t\t\t\t0.0963 \u00a0
\n\t\t\t\t\t6,873.45 \u00a0
\n\t\t\t\t\t6.96 \u00a0
\n\t\t\t\t\t636.51 \u00a0
\n\t\t\t\t\t0.67 \u00a0
\n\t\t\t\t\t20.6 \u00a0
\n\t\t\t\t\tMore than 1 year \u00a0
\n\t\t\t\t\t0.0940 \u00a0
\n\t\t\t\t\t3,431.63 \u00a0
\n\t\t\t\t\t322.62 \u00a0
\n\t\t\t\t\t15.1 \u00a0
\n\t\t\t\t\tUSD \u00a0
\n\t\t\t\t\tBuy \u00a0
\n\t\t\t\t\tLess than 1 year \u00a0
\n\t\t\t\t\t0.9410 \u00a0
\n\t\t\t\t\t0.8445 \u00a0
\n\t\t\t\t\t562.29 \u00a0
\n\t\t\t\t\t25.43 \u00a0
\n\t\t\t\t\t529.13 \u00a0
\n\t\t\t\t\t21.48 \u00a0
\n\t\t\t\t\t-9.5 \u00a0
\n\t\t\t\t\t0.7 \u00a0
\n\t\t\t\t\tMore than 1 year \u00a0
\n\t\t\t\t\t0.9486 \u00a0
\n\t\t\t\t\t0.8631 \u00a0
\n\t\t\t\t\t281.06 \u00a0
\n\t\t\t\t\t19.70 \u00a0
\n\t\t\t\t\t266.62 \u00a0
\n\t\t\t\t\t17.00 \u00a0
\n\t\t\t\t\t-10.6 \u00a0
\n\t\t\t\t\tSell \u00a0
\n\t\t\t\t\tLess than 1 year \u00a0
\n\t\t\t\t\t0.9697 \u00a0
\n\t\t\t\t\t0.8494 \u00a0
\n\t\t\t\t\t542.51 \u00a0
\n\t\t\t\t\t64.73 \u00a0
\n\t\t\t\t\t526.09 \u00a0
\n\t\t\t\t\t54.98 \u00a0
\n\t\t\t\t\t25.1 \u00a0
\n\t\t\t\t\t-1.6 \u00a0
\n\t\t\t\t\tMore than 1 year \u00a0
\n\t\t\t\t\t0.9341 \u00a0
\n\t\t\t\t\t0.8382 \u00a0
\n\t\t\t\t\t617.35 \u00a0
\n\t\t\t\t\t10.35 \u00a0
\n\t\t\t\t\t576.67 \u00a0
\n\t\t\t\t\t8.68 \u00a0
\n\t\t\t\t\t15.8 \u00a0
\n\t\t\t\t\t-0.2 \u00a0
\n\t\t\t\t\tLess than 1 year \u00a0
\n\t\t\t\t\t1.1522 \u00a0
\n\t\t\t\t\t1.1570 \u00a0
\n\t\t\t\t\t104.12 \u00a0
\n\t\t\t\t\t42.90 \u00a0
\n\t\t\t\t\t119.97 \u00a0
\n\t\t\t\t\t49.63 \u00a0
\n\t\t\t\t\t-3.3 \u00a0
\n\t\t\t\t\t1.0 \u00a0
\n\t\t\t\t\tGBP \u00a0
\n\t\t\t\t\tBuy \u00a0
\n\t\t\t\t\tMore than 1 year \u00a0
\n\t\t\t\t\t1.1626 \u00a0
\n\t\t\t\t\t1.1458 \u00a0
\n\t\t\t\t\t35.24 \u00a0
\n\t\t\t\t\t31.32 \u00a0
\n\t\t\t\t\t40.97 \u00a0
\n\t\t\t\t\t35.98 \u00a0
\n\t\t\t\t\t-1.7 \u00a0
\n\t\t\t\t\t0.6 \u00a0
\n\t\t\t\t\tSell \u00a0
\n\t\t\t\t\tLess than 1 year \u00a0
\n\t\t\t\t\t1.1551 \u00a0
\n\t\t\t\t\t1.1398 \u00a0
\n\t\t\t\t\t144.55 \u00a0
\n\t\t\t\t\t80.20 \u00a0
\n\t\t\t\t\t166.98 \u00a0
\n\t\t\t\t\t91.41 \u00a0
\n\t\t\t\t\t5.1 \u00a0
\n\t\t\t\t\t-3.1 \u00a0
\n\t\t\t\t\tMore than 1 year \u00a0
\n\t\t\t\t\t1.1702 \u00a0
\n\t\t\t\t\t1.1364 \u00a0
\n\t\t\t\t\t196.46 \u00a0
\n\t\t\t\t\t19.93 \u00a0
\n\t\t\t\t\t229.90 \u00a0
\n\t\t\t\t\t22.64 \u00a0
\n\t\t\t\t\t9.8 \u00a0
\n\t\t\t\t\t-0.5 \u00a0
\n\t\t\t\t\tNOK \u00a0
\n\t\t\t\t\tBuy \u00a0
\n\t\t\t\t\tLess than 1 year \u00a0
\n\t\t\t\t\t0.0975 \u00a0
\n\t\t\t\t\t0.0980 \u00a0
\n\t\t\t\t\t329.04 \u00a0
\n\t\t\t\t\t130.00 \u00a0
\n\t\t\t\t\t32.08 \u00a0
\n\t\t\t\t\t12.74 \u00a0
\n\t\t\t\t\t-1.7 \u00a0
\n\t\t\t\t\t0.1 \u00a0
\n\t\t\t\t\tMore than 1 year \u00a0
\n\t\t\t\t\t0.1028 \u00a0
\n\t\t\t\t\t0.0975 \u00a0
\n\t\t\t\t\t151.65 \u00a0
\n\t\t\t\t\t295.00 \u00a0
\n\t\t\t\t\t15.59 \u00a0
\n\t\t\t\t\t28.76 \u00a0
\n\t\t\t\t\t-1.4 \u00a0
\n\t\t\t\t\t-0.3 \u00a0
\n\t\t\t\t\tSell \u00a0
\n\t\t\t\t\tLess than 1 year \u00a0
\n\t\t\t\t\t0.1020 \u00a0
\n\t\t\t\t\t191.14 \u00a0
\n\t\t\t\t\t19.49 \u00a0
\n\t\t\t\t\t1.6 \u00a0
\n\t\t\t\t\tMore than 1 year \u00a0
\n\t\t\t\t\t0.0988 \u00a0
\n\t\t\t\t\t0.0988 \u00a0
\n\t\t\t\t\t14.75 \u00a0
\n\t\t\t\t\t40.00 \u00a0
\n\t\t\t\t\t1.46 \u00a0
\n\t\t\t\t\t4.00 \u00a0
\n\t\t\t\t\t0.1 \u00a0
\n\t\t\t\t\t0.1 \u00a0
\n\t\t\t\t\tCAD \u00a0
\n\t\t\t\t\tBuy \u00a0
\n\t\t\t\t\tLess than 1 year \u00a0
\n\t\t\t\t\t0.7137 \u00a0
\n\t\t\t\t\t24.00 \u00a0
\n\t\t\t\t\t17.13 \u00a0
\n\t\t\t\t\t-0.7 \u00a0
\n\t\t\t\t\tMore than 1 year \u00a0
\n\t\t\t\t\tSell \u00a0
\n\t\t\t\t\tLess than 1 year \u00a0
\n\t\t\t\t\t0.7413 \u00a0
\n\t\t\t\t\t67.96 \u00a0
\n\t\t\t\t\t50.38 \u00a0
\n\t\t\t\t\t4.0 \u00a0
\n\t\t\t\t\tMore than 1 year \u00a0
\n\t\t\t\t\t0.7500 \u00a0
\n\t\t\t\t\t45.30 \u00a0
\n\t\t\t\t\t33.98 \u00a0
\n\t\t\t\t\t3.4 \u00a0
\n\t\t\t\t\tCash flow hedges reported as assets \u00a0
\n\t\t\t\t\t74.5 \u00a0
\n\t\t\t\t\t4.4 \u00a0
\n\t\t\t\t\tCash flow hedges reported as liabilities \u00a0
\n\t\t\t\t\t76.4 \u00a0
\n\t\t\t\t\t6.2 \u00a0
\n\t\t\t\t\tEUR/Local currency \u00a0
\n\t\t\t\t\t1
\n\t\t\t\t\t2
\n\t\t\t\t\tFor hedges in Local currency/SEK the SEK part has been tranferred to EUR, and a value of the SEK part has been calculated. \u00a0
Average rate \u00a0
\n\t\t\t\t\tNotional value \u00a0
\n\t\t\t\t\tFair value \u00a0
\n\t\t\t\t\tCash flow hedges related to raw materials \u00a0
\n\t\t\t\t\tEUR/ton \u00a0
\n\t\t\t\t\tEURm \u00a0
\n\t\t\t\t\tEURm \u00a0
\n\t\t\t\t\tCommodity \u00a0
\n\t\t\t\t\t31 Dec 2022 \u00a0
\n\t\t\t\t\t31 Dec 2021 \u00a0
\n\t\t\t\t\t31 Dec 2022 \u00a0
\n\t\t\t\t\t31 Dec 2021 \u00a0
\n\t\t\t\t\t31 Dec 2022 \u00a0
\n\t\t\t\t\t31 Dec 2021 \u00a0
\n\t\t\t\t\tCopper \u00a0
\n\t\t\t\t\tBuy \u00a0
\n\t\t\t\t\tLess than 1 year \u00a0
\n\t\t\t\t\t5,961 \u00a0
\n\t\t\t\t\t5,882 \u00a0
\n\t\t\t\t\t528.6 \u00a0
\n\t\t\t\t\t321.0 \u00a0
\n\t\t\t\t\t169.6 \u00a0
\n\t\t\t\t\t147.3 \u00a0
\n\t\t\t\t\tMore than 1 year \u00a0
\n\t\t\t\t\t7,485 \u00a0
\n\t\t\t\t\t5,516 \u00a0
\n\t\t\t\t\t301.2 \u00a0
\n\t\t\t\t\t231.7 \u00a0
\n\t\t\t\t\t15.6 \u00a0
\n\t\t\t\t\t123.7 \u00a0
\n\t\t\t\t\tSell \u00a0
\n\t\t\t\t\tLess than 1 year \u00a0
\n\t\t\t\t\t6,421 \u00a0
\n\t\t\t\t\t5,733 \u00a0
\n\t\t\t\t\t-119.4 \u00a0
\n\t\t\t\t\t100.5 \u00a0
\n\t\t\t\t\t-26.9 \u00a0
\n\t\t\t\t\t-47.4 \u00a0
\n\t\t\t\t\tMore than 1 year \u00a0
\n\t\t\t\t\t5,371 \u00a0
\n\t\t\t\t\t14.9 \u00a0
\n\t\t\t\t\t-8.9 \u00a0
\n\t\t\t\t\tLead \u00a0
\n\t\t\t\t\tBuy \u00a0
\n\t\t\t\t\tLess than 1 year \u00a0
\n\t\t\t\t\t1,843 \u00a0
\n\t\t\t\t\t1,677 \u00a0
\n\t\t\t\t\t20.0 \u00a0
\n\t\t\t\t\t18.6 \u00a0
\n\t\t\t\t\t4.0 \u00a0
\n\t\t\t\t\t4.3 \u00a0
\n\t\t\t\t\tMore than 1 year \u00a0
\n\t\t\t\t\t1,897 \u00a0
\n\t\t\t\t\t1,721 \u00a0
\n\t\t\t\t\t10.2 \u00a0
\n\t\t\t\t\t3.1 \u00a0
\n\t\t\t\t\t1.7 \u00a0
\n\t\t\t\t\t0.7 \u00a0
\n\t\t\t\t\tSell \u00a0
\n\t\t\t\t\tLess than 1 year \u00a0
\n\t\t\t\t\t1,885 \u00a0
\n\t\t\t\t\t1,647 \u00a0
\n\t\t\t\t\t-3.2 \u00a0
\n\t\t\t\t\t8.0 \u00a0
\n\t\t\t\t\t-0.5 \u00a0
\n\t\t\t\t\t-1.9 \u00a0
\n\t\t\t\t\tMore than 1 year \u00a0
\n\t\t\t\t\t1,872 \u00a0
\n\t\t\t\t\t1.4 \u00a0
\n\t\t\t\t\tAluminium \u00a0
\n\t\t\t\t\tBuy \u00a0
\n\t\t\t\t\tLess than 1 year \u00a0
\n\t\t\t\t\t2,349 \u00a0
\n\t\t\t\t\t1,778 \u00a0
\n\t\t\t\t\t13.3 \u00a0
\n\t\t\t\t\t9.2 \u00a0
\n\t\t\t\t\t-0.8 \u00a0
\n\t\t\t\t\t4.0 \u00a0
\n\t\t\t\t\tMore than 1 year \u00a0
\n\t\t\t\t\tSell \u00a0
\n\t\t\t\t\tLess than 1 year \u00a0
\n\t\t\t\t\t2,312 \u00a0
\n\t\t\t\t\t1,563 \u00a0
\n\t\t\t\t\t-24.9 \u00a0
\n\t\t\t\t\t2.7 \u00a0
\n\t\t\t\t\t1.1 \u00a0
\n\t\t\t\t\t-1.6 \u00a0
\n\t\t\t\t\tMore than 1 year \u00a0
\n\t\t\t\t\tGas-oil \u00a0
\n\t\t\t\t\tBuy \u00a0
\n\t\t\t\t\tLess than 1 year \u00a0
\n\t\t\t\t\t620 \u00a0
\n\t\t\t\t\t420 \u00a0
\n\t\t\t\t\t20.4 \u00a0
\n\t\t\t\t\t6.6 \u00a0
\n\t\t\t\t\t5.5 \u00a0
\n\t\t\t\t\t2.6 \u00a0
\n\t\t\t\t\tMore than 1 year \u00a0
\n\t\t\t\t\t613 \u00a0
\n\t\t\t\t\t412 \u00a0
\n\t\t\t\t\t13.0 \u00a0
\n\t\t\t\t\t8.3 \u00a0
\n\t\t\t\t\t1.5 \u00a0
\n\t\t\t\t\t2.5 \u00a0
\n\t\t\t\t\tSell \u00a0
\n\t\t\t\t\tLess than 1 year \u00a0
\n\t\t\t\t\t634 \u00a0
\n\t\t\t\t\t578 \u00a0
\n\t\t\t\t\t-2.0 \u00a0
\n\t\t\t\t\t2.1 \u00a0
\n\t\t\t\t\t-0.6 \u00a0
\n\t\t\t\t\t-0.1 \u00a0
\n\t\t\t\t\tMore than 1 year \u00a0
\n\t\t\t\t\t847 \u00a0
\n\t\t\t\t\t573 \u00a0
\n\t\t\t\t\t-2.9 \u00a0
\n\t\t\t\t\t0.3 \u00a0
\n\t\t\t\t\t0.6 \u00a0
\n\t\t\t\t\tCash flow hedges reported as assets \u00a0
\n\t\t\t\t\t171.0 \u00a0
\n\t\t\t\t\t225.8 \u00a0
\n\t\t\t\t\tCash flow hedges reported as liabilities \u00a0
\n\t\t\t\t\t0.2 \u00a0
\n\t\t\t\t\t0.6 \u00a0
Accounting policy \u00a0
\n\t\t\t\t\tNKT mainly apply hedge accounting for financial instruments related to \u00a0
\n\t\t\t\t\tcurrency, raw materials as well as interest rates for loans. The hedges \u00a0
\n\t\t\t\t\tnormally hedge the risk one-to-one with the hedged item. Only gas-oil \u00a0
\n\t\t\t\t\thedges for the hedging of the price risk of plastic differs from this principle, \u00a0
\n\t\t\t\t\tas Group Treasury here determine the ratio necessary to hedge the price \u00a0
\n\t\t\t\t\trisk for plastic. \u00a0
\n\t\t\t\t\tThe Group designates the share of the fair value of a forward contract \u00a0
\n\t\t\t\t\tthat is related to cash price for metals and spot price for FX hedges (i.e. \u00a0
excluding the forward elements) as the hedging instrument for all of its \u00a0
\n\t\t\t\t\thedging relationships involving forward contracts. In accordance with the \u00a0
\n\t\t\t\t\tcost of hedging principle all fair values related to the forward element of \u00a0
\n\t\t\t\t\tthe hedging contract is recognized in other comprehensive income and \u00a0
\n\t\t\t\t\taccumulated in the cost of hedging reserve. As the hedged items are \u00a0
\n\t\t\t\t\ttransaction-related, the forward element is reclassified to the profit or loss \u00a0
\n\t\t\t\t\twhen the hedged item affects profit or loss, and in the same line item as \u00a0
\n\t\t\t\t\tthe hedged item. \u00a0
Fair value changes for cash flow hedges considered effective, are recog- \u00a0
\n\t\t\t\t\tnized in other comprehensive income in the hedging reserve. For each \u00a0
\n\t\t\t\t\treporting date, effectiveness is considered and if the future cash flows are \u00a0
\n\t\t\t\t\tno longer expected to materialize, the accumulated value reported in the \u00a0
\n\t\t\t\t\thedge reserve is reclassified to financial items in the income statement. In \u00a0
\n\t\t\t\t\tall other cases the accumulated value is reclassified to the income state- \u00a0
\n\t\t\t\t\tment in the same line as the hedged item. \u00a0
Foreign \u00a0
\n\t\t\t\t\texchange Interest
rate Commodity \u00a0
\n\t\t\t\t\tAmounts in EURm \u00a0
\n\t\t\t\t\trisk hedging
risk hedging
risk hedging \u00a0
\n\t\t\t\t\tTotal \u00a0
\n\t\t\t\t\tBalance at 1 January 2021 \u00a0
\n\t\t\t\t\t-0.4 \u00a0
\n\t\t\t\t\t-0.1 \u00a0
\n\t\t\t\t\t72.4 \u00a0
\n\t\t\t\t\t71.9 \u00a0
\n\t\t\t\t\tGain arising from changes in fair value of hedging instruments \u00a0
\n\t\t\t\t\t5.7 \u00a0
\n\t\t\t\t\t0.9 \u00a0
\n\t\t\t\t\t220.2 \u00a0
\n\t\t\t\t\t226.8 \u00a0
\n\t\t\t\t\tIncome tax related to gains recognized in other comprehensive income \u00a0
\n\t\t\t\t\t-1.3 \u00a0
\n\t\t\t\t\t-0.2 \u00a0
\n\t\t\t\t\t-55.7 \u00a0
\n\t\t\t\t\t-57.2 \u00a0
\n\t\t\t\t\tGain reclassified to profit or loss - hedged items have affected profit or loss \u00a0
\n\t\t\t\t\t-8.9 \u00a0
\n\t\t\t\t\t0.0 \u00a0
\n\t\t\t\t\t-68.3 \u00a0
\n\t\t\t\t\t-77.2 \u00a0
\n\t\t\t\t\tIncome tax related to amounts reclassified to profit or loss \u00a0
\n\t\t\t\t\t1.8 \u00a0
\n\t\t\t\t\t0.0 \u00a0
\n\t\t\t\t\t16.6 \u00a0
\n\t\t\t\t\t18.4 \u00a0
\n\t\t\t\t\tExchange rate adjustments \u00a0
\n\t\t\t\t\t-0.2 \u00a0
\n\t\t\t\t\t0.0 \u00a0
\n\t\t\t\t\t-0.5 \u00a0
\n\t\t\t\t\t-0.7 \u00a0
\n\t\t\t\t\tBalance at 31 December 2021 \u00a0
\n\t\t\t\t\t-3.3 \u00a0
\n\t\t\t\t\t0.6 \u00a0
\n\t\t\t\t\t184.7 \u00a0
\n\t\t\t\t\t182.0 \u00a0
\n\t\t\t\t\tGain/(loss) arising from changes in fair value of hedging instruments during the period \u00a0
\n\t\t\t\t\t0.9 \u00a0
\n\t\t\t\t\t6.7 \u00a0
\n\t\t\t\t\t72.9 \u00a0
\n\t\t\t\t\t80.5 \u00a0
\n\t\t\t\t\tIncome tax related to gains/(losses) recognized in other comprehensive income \u00a0
\n\t\t\t\t\tduring the period \u00a0
\n\t\t\t\t\t-0.2 \u00a0
\n\t\t\t\t\t-1.5 \u00a0
\n\t\t\t\t\t-10.2 \u00a0
\n\t\t\t\t\t-11.9 \u00a0
\n\t\t\t\t\t(Gain)/loss reclassified to profit or loss - hedged items have affected profit or loss \u00a0
\n\t\t\t\t\t3.0 \u00a0
\n\t\t\t\t\t0.0 \u00a0
\n\t\t\t\t\t-125.8 \u00a0
\n\t\t\t\t\t-122.8 \u00a0
\n\t\t\t\t\tIncome tax related to amounts reclassified to profit or loss \u00a0
\n\t\t\t\t\t-0.6 \u00a0
\n\t\t\t\t\t0.0 \u00a0
\n\t\t\t\t\t27.5 \u00a0
\n\t\t\t\t\t26.9 \u00a0
\n\t\t\t\t\tExchange rate adjustments \u00a0
\n\t\t\t\t\t-0.1 \u00a0
\n\t\t\t\t\t0.0 \u00a0
\n\t\t\t\t\t-9.0 \u00a0
\n\t\t\t\t\t-9.1 \u00a0
\n\t\t\t\t\tBalance at 31 December 2022 \u00a0
\n\t\t\t\t\t-0.3 \u00a0
\n\t\t\t\t\t5.8 \u00a0
\n\t\t\t\t\t140.1 \u00a0
\n\t\t\t\t\t145.6 \u00a0
Foreign \u00a0
\n\t\t\t\t\texchange Interest
rate Commodity \u00a0
\n\t\t\t\t\tAmounts in EURm \u00a0
\n\t\t\t\t\trisk hedging
risk hedging
risk hedging \u00a0
\n\t\t\t\t\tTotal \u00a0
\n\t\t\t\t\tBalance at 1 January 2021 \u00a0
\n\t\t\t\t\t0.0 \u00a0
\n\t\t\t\t\t0.0 \u00a0
\n\t\t\t\t\t0.0 \u00a0
\n\t\t\t\t\t0.0 \u00a0
\n\t\t\t\t\tLoss arising from changes in fair value of hedging instruments \u00a0
\n\t\t\t\t\t-1.4 \u00a0
\n\t\t\t\t\t0.0 \u00a0
\n\t\t\t\t\t-23.4 \u00a0
\n\t\t\t\t\t-24.8 \u00a0
\n\t\t\t\t\tIncome tax related to loss recognized in other comprehensive income \u00a0
\n\t\t\t\t\t0.4 \u00a0
\n\t\t\t\t\t0.0 \u00a0
\n\t\t\t\t\t5.8 \u00a0
\n\t\t\t\t\t6.2 \u00a0
\n\t\t\t\t\tLoss reclassified to profit or loss - hedged items have affected profit or loss \u00a0
\n\t\t\t\t\t0.0 \u00a0
\n\t\t\t\t\t0.0 \u00a0
\n\t\t\t\t\t3.3 \u00a0
\n\t\t\t\t\t3.3 \u00a0
\n\t\t\t\t\tIncome tax related to amounts reclassified to profit or loss \u00a0
\n\t\t\t\t\t0.0 \u00a0
\n\t\t\t\t\t0.0 \u00a0
\n\t\t\t\t\t-0.8 \u00a0
\n\t\t\t\t\t-0.8 \u00a0
\n\t\t\t\t\tExchange rate adjustments \u00a0
\n\t\t\t\t\t0.0 \u00a0
\n\t\t\t\t\t0.0 \u00a0
\n\t\t\t\t\t-0.1 \u00a0
\n\t\t\t\t\t-0.1 \u00a0
\n\t\t\t\t\tBalance at 31 December 2021 \u00a0
\n\t\t\t\t\t-1.0 \u00a0
\n\t\t\t\t\t0.0 \u00a0
\n\t\t\t\t\t-15.2 \u00a0
\n\t\t\t\t\t-16.2 \u00a0
\n\t\t\t\t\tGain/(loss) arising from changes in fair value of hedging instruments during the period \u00a0
\n\t\t\t\t\t1.3 \u00a0
\n\t\t\t\t\t0.0 \u00a0
\n\t\t\t\t\t0.4 \u00a0
\n\t\t\t\t\t1.7 \u00a0
\n\t\t\t\t\tIncome tax related to gains/(losses) recognized in other comprehensive income \u00a0
\n\t\t\t\t\tduring the period \u00a0
\n\t\t\t\t\t-0.3 \u00a0
\n\t\t\t\t\t0.0 \u00a0
\n\t\t\t\t\t-0.1 \u00a0
\n\t\t\t\t\t-0.4 \u00a0
\n\t\t\t\t\t(Gain)/loss reclassified to profit or loss - hedged items have affected profit or loss \u00a0
\n\t\t\t\t\t0.0 \u00a0
\n\t\t\t\t\t0.0 \u00a0
\n\t\t\t\t\t2.9 \u00a0
\n\t\t\t\t\t2.9 \u00a0
\n\t\t\t\t\tIncome tax related to amounts reclassified to profit or loss \u00a0
\n\t\t\t\t\t0.0 \u00a0
\n\t\t\t\t\t0.0 \u00a0
\n\t\t\t\t\t-0.7 \u00a0
\n\t\t\t\t\t-0.7 \u00a0
\n\t\t\t\t\tExchange rate adjustments \u00a0
\n\t\t\t\t\t0.0 \u00a0
\n\t\t\t\t\t0.0 \u00a0
\n\t\t\t\t\t0.0 \u00a0
\n\t\t\t\t\t0.0 \u00a0
\n\t\t\t\t\tBalance at 31 December 2022 \u00a0
\n\t\t\t\t\t0.0 \u00a0
\n\t\t\t\t\t0.0 \u00a0
\n\t\t\t\t\t-12.7 \u00a0
\n\t\t\t\t\t-12.7 \u00a0
\n\t\t\t\t\tOf the fair values recorded in other comprehensive income, EUR 0.6m is expected to be recorded in Revenue (EUR 3.6m in 2021) and EUR 132.3m \u00a0
\n\t\t\t\t\t(EUR 161.5m in 2021) is expected to be recorded in Cost of raw materials, consumables and goods for resale. \u00a0
Categories of financial instruments \u00a0
\n\t\t\t\t\tAmounts in EURm \u00a0
\n\t\t\t\t\t2022 \u00a0
\n\t\t\t\t\t2021 \u00a0
\n\t\t\t\t\tFinancial assets \u00a0
\n\t\t\t\t\tMeasured at amortized costs: \u00a0
\n\t\t\t\t\tReceivables \u00a0
\n\t\t\t\t\t273.2 \u00a0
\n\t\t\t\t\t308.8 \u00a0
\n\t\t\t\t\tContract assets \u00a0
\n\t\t\t\t\t98.2 \u00a0
\n\t\t\t\t\t97.3 \u00a0
\n\t\t\t\t\tInterest bearing receivables \u00a0
\n\t\t\t\t\t0.2 \u00a0
\n\t\t\t\t\t0.2 \u00a0
\n\t\t\t\t\tMeasured at fair value through profit /loss: \u00a0
\n\t\t\t\t\tOther investments and receivables \u00a0
\n\t\t\t\t\t0.8 \u00a0
\n\t\t\t\t\t0.8 \u00a0
\n\t\t\t\t\tCash at bank and in hand \u00a0
\n\t\t\t\t\t258.5 \u00a0
\n\t\t\t\t\t200.5 \u00a0
\n\t\t\t\t\tDerivative financial instruments \u00a0
\n\t\t\t\t\t249.3 \u00a0
\n\t\t\t\t\t220.1 \u00a0
\n\t\t\t\t\tFinancial liabilities \u00a0
\n\t\t\t\t\tMeasured at amortized costs: \u00a0
\n\t\t\t\t\tTrade payables and other liabilities \u00a0
\n\t\t\t\t\t502.1 \u00a0
\n\t\t\t\t\t497.6 \u00a0
\n\t\t\t\t\tInterest-bearing loans and borrowings \u00a0
\n\t\t\t\t\t195.8 \u00a0
\n\t\t\t\t\t213.9 \u00a0
\n\t\t\t\t\tMeasured at fair value through profit /loss: \u00a0
\n\t\t\t\t\tDerivative financial instruments \u00a0
\n\t\t\t\t\t76.6 \u00a0
\n\t\t\t\t\t14.6 \u00a0
\n\t\t\t\t\tIn the table above, financial instruments are presented in the categories \u00a0
\n\t\t\t\t\twhich determine, how they will be recognized in the financial statements. \u00a0
Fair value changes of financial instruments used to hedge the change in \u00a0
\n\t\t\t\t\tfair value of an asset or liability is recorded in the income statement in the \u00a0
\n\t\t\t\t\tsame line item as the changes in value of the hedged asset or liability is \u00a0
\n\t\t\t\t\trecognized in. \u00a0
\n\t\t\t\t\tHedging of currency risk is not performed for net assets (equity) in \u00a0
\n\t\t\t\t\tforeign subsidiaries. Gains and losses relating to unhedged net assets \u00a0
\n\t\t\t\t\tin foreign subsidiaries are accounted for directly in other comprehensive \u00a0
\n\t\t\t\t\tincome. \u00a0
Measuring fair value \u00a0
\n\t\t\t\t\tFinancial instruments measured at fair value in the balance sheet are \u00a0
\n\t\t\t\t\tdesignated as belonging to one of the following three categories (the \u2018fair \u00a0
\n\t\t\t\t\tvalue hierarchy\u2019): \u00a0
\n\t\t\t\t\tLevel 1:
Listed prices (unadjusted) in active markets for identical assets \u00a0
\n\t\t\t\t\tand liabilities \u00a0
\n\t\t\t\t\tLevel 2:
Input, other than listed prices on Level 1, which is observable for \u00a0
\n\t\t\t\t\tthe asset or liability either directly (as prices) or indirectly (derived \u00a0
\n\t\t\t\t\tfrom prices) \u00a0
\n\t\t\t\t\tLevel 3:
Input for the asset or liability which is not based on observable \u00a0
\n\t\t\t\t\tmarket data (non-observable input) \u00a0
\n\t\t\t\t\tFinancial instruments measured at fair value consist of derivative financial \u00a0
\n\t\t\t\t\tinstruments. The fair value at 31 December 2022 and 2021 of NKT \u00a0
\n\t\t\t\t\tGroup\u2019s forward transactions are measured in accordance with Level 2 \u00a0
\n\t\t\t\t\tas the fair value is based on official exchange rates and forward rates at \u00a0
\n\t\t\t\t\tthe balance sheet date. \u00a0
\n\t\t\t\t\tNo financial instruments was moved from one level to another in the year \u00a0
\n\t\t\t\t\t(no move in 2021 either). \u00a0
Liquidity risks \u00a0
\n\t\t\t\t\tIt is NKT Group\u2019s policy to maintain adequate liquidity resources to im- \u00a0
\n\t\t\t\t\tplement planned operating activities and to be able to operate effectively \u00a0
\n\t\t\t\t\tin the event of unforeseen fluctuations in liquidity. NKT Group\u2019s liquidity \u00a0
\n\t\t\t\t\tresources consist of cash, cash equivalents and undrawn committed \u00a0
\n\t\t\t\t\tcredit facilities (RCF). \u00a0
\n\t\t\t\t\tThe current RCF of EUR 200m has in 2022 been extended with one \u00a0
\n\t\t\t\t\tyear, so it matures in November 2025. The mortgage loan portfolio \u00a0
\n\t\t\t\t\tmatures in 2032 and 2033. \u00a0
\n\t\t\t\t\tThe RCF is the only financing instrument subject to financial covenants. \u00a0
\n\t\t\t\t\tNKT Group\u2019s financing contains change of control clauses, which comes \u00a0
\n\t\t\t\t\tinto effect if a shareholder or shareholder group gains control over NKT \u00a0
\n\t\t\t\t\tA/S or if NKT A/S is no longer listed at Nasdaq Copenhagen. \u00a0
\n\t\t\t\t\tIt is Group Management\u2019s opinion, that the financial headroom is suffi- \u00a0
\n\t\t\t\t\tcient to manage the level of activity expected in 2023 for the NKT Group. \u00a0
Liquidity resources \u00a0
\n\t\t\t\t\tAmounts in EURm \u00a0
\n\t\t\t\t\t2022 \u00a0
\n\t\t\t\t\t2021 \u00a0
\n\t\t\t\t\tCommitted facilities (>3 years) \u00a0
\n\t\t\t\t\t0.0 \u00a0
\n\t\t\t\t\t0.0 \u00a0
\n\t\t\t\t\tCommitted facilities (1-3 years) \u00a0
\n\t\t\t\t\t200.0 \u00a0
\n\t\t\t\t\t200.0 \u00a0
\n\t\t\t\t\tCommitted facilities (<1 year) \u00a0
\n\t\t\t\t\t0.0 \u00a0
\n\t\t\t\t\t0.0 \u00a0
\n\t\t\t\t\tTotal commited facilities \u00a0
\n\t\t\t\t\t200.0 \u00a0
\n\t\t\t\t\t200.0 \u00a0
\n\t\t\t\t\tUncommitted facilities \u00a0
\n\t\t\t\t\t0.0 \u00a0
\n\t\t\t\t\t0.0 \u00a0
\n\t\t\t\t\tTotal facilities \u00a0
\n\t\t\t\t\t200.0 \u00a0
\n\t\t\t\t\t200.0 \u00a0
\n\t\t\t\t\tCash \u00a0
\n\t\t\t\t\t258.5 \u00a0
\n\t\t\t\t\t200.5 \u00a0
\n\t\t\t\t\tUtilized facilities \u00a0
\n\t\t\t\t\t-9.0 \u00a0
\n\t\t\t\t\t-5.4 \u00a0
\n\t\t\t\t\tCash classified as assets held for sale \u00a0
\n\t\t\t\t\t3.7 \u00a0
\n\t\t\t\t\t0.0 \u00a0
\n\t\t\t\t\tLiquidity recources \u00a0
\n\t\t\t\t\t453.2 \u00a0
\n\t\t\t\t\t395.1 \u00a0
Credit risks \u00a0
\n\t\t\t\t\tNKT\u2019s credit risks relate partly to receivables, contract assets and cash \u00a0
\n\t\t\t\t\tat bank and in hand, and partly to derivative financial instruments with \u00a0
\n\t\t\t\t\tpositive fair value. The maximum credit risk attached to financial assets \u00a0
\n\t\t\t\t\tcorrespond to the values recognized in the balance sheet. \u00a0
\n\t\t\t\t\tNKT has no material risks relating to a single customer or partner. NKT\u2019s \u00a0
\n\t\t\t\t\tpolicy for acceptance of credit risks entails ongoing monitoring and credit \u00a0
\n\t\t\t\t\trating of important customers and other partners. NKT obtains prepay- \u00a0
\n\t\t\t\t\tments or bank guarantees from customers, when considered needed. \u00a0
\n\t\t\t\t\tThus, insurance cover and similar measures to hedge receivables are \u00a0
\n\t\t\t\t\trarely applied as NKT historically has had only few material losses. \u00a0
",
"dimensions": {
"concept": "ifrs-full:DisclosureOfFinancialInstrumentsExplanatory",
"language": "en",
"entity": "scheme:529900197LKWCEQ0NL18",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"fact2464": {
"value": "Accounting policy \u00a0
\n\t\t\t\t\tChanges in market values of currency and interest rate derivatives not \u00a0
\n\t\t\t\t\tentered into with the purpose of hedging an exposure, are recognized in \u00a0
\n\t\t\t\t\tfinancial income or expenses respectively. \u00a0
Accounting policy \u00a0
\n\t\t\t\t\tNKT mainly apply hedge accounting for financial instruments related to \u00a0
\n\t\t\t\t\tcurrency, raw materials as well as interest rates for loans. The hedges \u00a0
\n\t\t\t\t\tnormally hedge the risk one-to-one with the hedged item. Only gas-oil \u00a0
\n\t\t\t\t\thedges for the hedging of the price risk of plastic differs from this principle, \u00a0
\n\t\t\t\t\tas Group Treasury here determine the ratio necessary to hedge the price \u00a0
\n\t\t\t\t\trisk for plastic. \u00a0
\n\t\t\t\t\tThe Group designates the share of the fair value of a forward contract \u00a0
\n\t\t\t\t\tthat is related to cash price for metals and spot price for FX hedges (i.e. \u00a0
excluding the forward elements) as the hedging instrument for all of its \u00a0
\n\t\t\t\t\thedging relationships involving forward contracts. In accordance with the \u00a0
\n\t\t\t\t\tcost of hedging principle all fair values related to the forward element of \u00a0
\n\t\t\t\t\tthe hedging contract is recognized in other comprehensive income and \u00a0
\n\t\t\t\t\taccumulated in the cost of hedging reserve. As the hedged items are \u00a0
\n\t\t\t\t\ttransaction-related, the forward element is reclassified to the profit or loss \u00a0
\n\t\t\t\t\twhen the hedged item affects profit or loss, and in the same line item as \u00a0
\n\t\t\t\t\tthe hedged item. \u00a0
Fair value changes for cash flow hedges considered effective, are recog- \u00a0
\n\t\t\t\t\tnized in other comprehensive income in the hedging reserve. For each \u00a0
\n\t\t\t\t\treporting date, effectiveness is considered and if the future cash flows are \u00a0
\n\t\t\t\t\tno longer expected to materialize, the accumulated value reported in the \u00a0
\n\t\t\t\t\thedge reserve is reclassified to financial items in the income statement. In \u00a0
\n\t\t\t\t\tall other cases the accumulated value is reclassified to the income state- \u00a0
\n\t\t\t\t\tment in the same line as the hedged item. \u00a0
Fair value changes of financial instruments used to hedge the change in \u00a0
\n\t\t\t\t\tfair value of an asset or liability is recorded in the income statement in the \u00a0
\n\t\t\t\t\tsame line item as the changes in value of the hedged asset or liability is \u00a0
\n\t\t\t\t\trecognized in. \u00a0
\n\t\t\t\t\tHedging of currency risk is not performed for net assets (equity) in \u00a0
\n\t\t\t\t\tforeign subsidiaries. Gains and losses relating to unhedged net assets \u00a0
\n\t\t\t\t\tin foreign subsidiaries are accounted for directly in other comprehensive \u00a0
\n\t\t\t\t\tincome. \u00a0
",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForFinancialInstrumentsExplanatory",
"language": "en",
"entity": "scheme:529900197LKWCEQ0NL18",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"fact2469": {
"value": "Currency risks \u00a0
\n\t\t\t\t\tWith presence in several countries NKT is exposed to \u00a0
\n\t\t\t\t\tcurrency risks that may have considerable influence on \u00a0
\n\t\t\t\t\tthe income statement and balance sheet. Currency risks \u00a0
\n\t\t\t\t\trefer to the risks of losses (or opportunities for gains) \u00a0
\n\t\t\t\t\tresulting from changes in currency rates. Currency risks \u00a0
\n\t\t\t\t\tarise through transactions, financial assets and liabilities \u00a0
\n\t\t\t\t\tdenominated in currencies other than the functional \u00a0
\n\t\t\t\t\tcurrency of the individual businesses. Quantification and \u00a0
\n\t\t\t\t\tidentification of existing and anticipated currency risks \u00a0
\n\t\t\t\t\tare the responsibility of the individual businesses, while \u00a0
\n\t\t\t\t\tthe actual hedging is executed by Group Treasury. \u00a0
\n\t\t\t\t\tNKT does not hedge the currency risks related to net \u00a0
\n\t\t\t\t\tinvestments in foreign subsidiaries. Gains and losses \u00a0
\n\t\t\t\t\trelating to unhedged net assets in foreign subsidiaries \u00a0
\n\t\t\t\t\tare accounted directly in other comprehensive income. \u00a0
The principal currency exposure relates to sales and \u00a0
\n\t\t\t\t\tpurchases in currencies other than the functional \u00a0
\n\t\t\t\t\tcurrency of the businesses. Hedging of these currency \u00a0
\n\t\t\t\t\trisks are based on an assessment of the likelihood of \u00a0
\n\t\t\t\t\tthe future transaction being performed and materiality. \u00a0
\n\t\t\t\t\tExpected cash flows with significant currency risk are \u00a0
\n\t\t\t\t\thedged as they become known. Currency risks from \u00a0
\n\t\t\t\t\tproject-related sales are considered on an individual \u00a0
\n\t\t\t\t\tbasis. The fair value of the effective part of the hedge \u00a0
\n\t\t\t\t\tis recognized in other comprehensive income on a \u00a0
\n\t\t\t\t\tcontinuous basis. \u00a0
\n\t\t\t\t\tThe table on the next page shows net outstanding for- \u00a0
\n\t\t\t\t\tward exchange hedging contracts as at 31 December \u00a0
\n\t\t\t\t\tfor NKT, which are used for and fulfil the conditions for \u00a0
\n\t\t\t\t\thedge accounting of future transactions. \u00a0
\n\t\t\t\t\tThe fair value of the total portfolio of currency hedge \u00a0
\n\t\t\t\t\tcontracts will impact other comprehensive income if \u00a0
\n\t\t\t\t\tcurrency rates change. The effect of a 10% increase \u00a0
\n\t\t\t\t\tin selected currency rates is shown in the table to the \u00a0
\n\t\t\t\t\tright. \u00a0
\n\t\t\t\t\tAs NKT currently only uses forwards and spots to \u00a0
\n\t\t\t\t\thedge the FX risks, and only designate the spot ele- \u00a0
\n\t\t\t\t\tment, the likelihood of inefficiency is low, through possi- \u00a0
\n\t\t\t\t\tble if changes in expected cashflows from projects are \u00a0
\n\t\t\t\t\tnot reflected correctly in the hedges. \u00a0
Interest rate risks \u00a0
\n\t\t\t\t\tInterest rate risks refer to the influence of changes in \u00a0
\n\t\t\t\t\tmarket interest rates on future cash flows concerning \u00a0
\n\t\t\t\t\tinterest-bearing assets and liabilities. \u00a0
\n\t\t\t\t\tIn 2022 no interest rate swaps were made. In 2021 an \u00a0
\n\t\t\t\t\tinterest rate hedge of EUR 30m was made in form of an \u00a0
\n\t\t\t\t\tinterest rate swap with a fixed rate of -0.3375 maturing \u00a0
\n\t\t\t\t\tin March 2026. \u00a0
\n\t\t\t\t\tAs of end-2022, the market value of the interest rate \u00a0
\n\t\t\t\t\tderivatives was EUR 7.6m (EUR 0.8m in 2021). \u00a0
Sensitivity analysis - financial instruments \u00a0
\n\t\t\t\t\tEURm \u00a0
\n\t\t\t\t\t2022 \u00a0
\n\t\t\t\t\t2021 \u00a0
\n\t\t\t\t\tEffect on \u00a0
\n\t\t\t\t\tEffect \u00a0
\n\t\t\t\t\tEffect on \u00a0
\n\t\t\t\t\tEffect \u00a0
\n\t\t\t\t\tearnings \u00a0
\n\t\t\t\t\ton equity \u00a0
\n\t\t\t\t\tearnings \u00a0
\n\t\t\t\t\ton equity \u00a0
\n\t\t\t\t\tRisk \u00a0
\n\t\t\t\t\tPrice change \u00a0
\n\t\t\t\t\tbefore tax \u00a0
\n\t\t\t\t\tbefore tax \u00a0
\n\t\t\t\t\tbefore tax \u00a0
\n\t\t\t\t\tbefore tax \u00a0
\n\t\t\t\t\tSEK \u00a0
\n\t\t\t\t\t10% \u00a0
\n\t\t\t\t\t-43.7 \u00a0
\n\t\t\t\t\t62.5 \u00a0
\n\t\t\t\t\t11.4 \u00a0
\n\t\t\t\t\t-3.1 \u00a0
\n\t\t\t\t\t-10% \u00a0
\n\t\t\t\t\t43.7 \u00a0
\n\t\t\t\t\t-62.5 \u00a0
\n\t\t\t\t\t-11.4 \u00a0
\n\t\t\t\t\t3.1 \u00a0
\n\t\t\t\t\tGBP \u00a0
\n\t\t\t\t\t10% \u00a0
\n\t\t\t\t\t0.3 \u00a0
\n\t\t\t\t\t-22.8 \u00a0
\n\t\t\t\t\t0.0 \u00a0
\n\t\t\t\t\t3.1 \u00a0
\n\t\t\t\t\t-10% \u00a0
\n\t\t\t\t\t-0.3 \u00a0
\n\t\t\t\t\t22.8 \u00a0
\n\t\t\t\t\t0.0 \u00a0
\n\t\t\t\t\t-3.1 \u00a0
\n\t\t\t\t\tNOK \u00a0
\n\t\t\t\t\t10% \u00a0
\n\t\t\t\t\t0.0 \u00a0
\n\t\t\t\t\t2.6 \u00a0
\n\t\t\t\t\t0.2 \u00a0
\n\t\t\t\t\t-3.8 \u00a0
\n\t\t\t\t\t-10% \u00a0
\n\t\t\t\t\t0.0 \u00a0
\n\t\t\t\t\t-2.6 \u00a0
\n\t\t\t\t\t-0.2 \u00a0
\n\t\t\t\t\t3.8 \u00a0
\n\t\t\t\t\tUSD \u00a0
\n\t\t\t\t\t10% \u00a0
\n\t\t\t\t\t0.0 \u00a0
\n\t\t\t\t\t-29.4 \u00a0
\n\t\t\t\t\t-0.2 \u00a0
\n\t\t\t\t\t2.6 \u00a0
\n\t\t\t\t\t-10% \u00a0
\n\t\t\t\t\t0.0 \u00a0
\n\t\t\t\t\t29.4 \u00a0
\n\t\t\t\t\t0.2 \u00a0
\n\t\t\t\t\t-2.6 \u00a0
\n\t\t\t\t\tCZK \u00a0
\n\t\t\t\t\t10% \u00a0
\n\t\t\t\t\t-0.8 \u00a0
\n\t\t\t\t\t-0.4 \u00a0
\n\t\t\t\t\t3.4 \u00a0
\n\t\t\t\t\t0.0 \u00a0
\n\t\t\t\t\t-10% \u00a0
\n\t\t\t\t\t0.8 \u00a0
\n\t\t\t\t\t0.4 \u00a0
\n\t\t\t\t\t-3.4 \u00a0
\n\t\t\t\t\t0.0 \u00a0
\n\t\t\t\t\tPLN \u00a0
\n\t\t\t\t\t10% \u00a0
\n\t\t\t\t\t3.6 \u00a0
\n\t\t\t\t\t0.0 \u00a0
\n\t\t\t\t\t-7.2 \u00a0
\n\t\t\t\t\t0.0 \u00a0
\n\t\t\t\t\t-10% \u00a0
\n\t\t\t\t\t-3.6 \u00a0
\n\t\t\t\t\t0.0 \u00a0
\n\t\t\t\t\t7.2 \u00a0
\n\t\t\t\t\t0.0 \u00a0
\n\t\t\t\t\tCopper \u00a0
\n\t\t\t\t\t10% \u00a0
\n\t\t\t\t\t0.0 \u00a0
\n\t\t\t\t\t54.5 \u00a0
\n\t\t\t\t\t0.0 \u00a0
\n\t\t\t\t\t62.3 \u00a0
\n\t\t\t\t\t-10% \u00a0
\n\t\t\t\t\t0.0 \u00a0
\n\t\t\t\t\t-54.5 \u00a0
\n\t\t\t\t\t0.0 \u00a0
\n\t\t\t\t\t-62.3 \u00a0
\n\t\t\t\t\tLead \u00a0
\n\t\t\t\t\t10% \u00a0
\n\t\t\t\t\t0.0 \u00a0
\n\t\t\t\t\t1.9 \u00a0
\n\t\t\t\t\t0.0 \u00a0
\n\t\t\t\t\t1.5 \u00a0
\n\t\t\t\t\t-10% \u00a0
\n\t\t\t\t\t0.0 \u00a0
\n\t\t\t\t\t-1.9 \u00a0
\n\t\t\t\t\t0.0 \u00a0
\n\t\t\t\t\t-1.5 \u00a0
\n\t\t\t\t\tAluminium \u00a0
\n\t\t\t\t\t10% \u00a0
\n\t\t\t\t\t0.0 \u00a0
\n\t\t\t\t\t-1.1 \u00a0
\n\t\t\t\t\t0.0 \u00a0
\n\t\t\t\t\t0.9 \u00a0
\n\t\t\t\t\t-10% \u00a0
\n\t\t\t\t\t0.0 \u00a0
\n\t\t\t\t\t1.1 \u00a0
\n\t\t\t\t\t0.0 \u00a0
\n\t\t\t\t\t-0.9 \u00a0
\n\t\t\t\t\tGas-oil \u00a0
\n\t\t\t\t\t10% \u00a0
\n\t\t\t\t\t0.0 \u00a0
\n\t\t\t\t\t2.3 \u00a0
\n\t\t\t\t\t0.0 \u00a0
\n\t\t\t\t\t1.8 \u00a0
\n\t\t\t\t\t-10% \u00a0
\n\t\t\t\t\t0.0 \u00a0
\n\t\t\t\t\t-2.3 \u00a0
\n\t\t\t\t\t0.0 \u00a0
\n\t\t\t\t\t-1.8 \u00a0
\n\t\t\t\t\tInterest rate \u00a0
\n\t\t\t\t\t1%-point \u00a0
\n\t\t\t\t\t0.0 \u00a0
\n\t\t\t\t\t0.8 \u00a0
\n\t\t\t\t\t0.0 \u00a0
\n\t\t\t\t\t0.8 \u00a0
\n\t\t\t\t\t-1%-point \u00a0
\n\t\t\t\t\t0.0 \u00a0
\n\t\t\t\t\t-0.8 \u00a0
\n\t\t\t\t\t0.0 \u00a0
\n\t\t\t\t\t-0.8 \u00a0
\n\t\t\t\t\tThe table above shows a sensitivity analysis of the exposures in currency, commodities and interest rates \u00a0
\n\t\t\t\t\tassuming effective hedge accounting is continued to be applied. The presented effects are from the financial \u00a0
\n\t\t\t\t\tinstruments only (all things being equal). When also considering the development of the underlying exposure the \u00a0
\n\t\t\t\t\tfuture income statement effects, will be fully or partially offset as hedge accounting is applied. \u00a0
Cash flow hedges related to \u00a0
\n\t\t\t\t\tNotional value \u00a0
\n\t\t\t\t\tNotional value \u00a0
\n\t\t\t\t\tFair value \u00a0
\n\t\t\t\t\tthe most significant currencies \u00a0
\n\t\t\t\t\tAverage exchange rate1 \u00a0
\n\t\t\t\t\tLocal currency in million \u00a0
\n\t\t\t\t\tEURm \u00a0
\n\t\t\t\t\tEURm \u00a0
\n\t\t\t\t\tLocal currency \u00a0
\n\t\t\t\t\t31 Dec 2022 \u00a0
\n\t\t\t\t\t31 Dec 2021 \u00a0
\n\t\t\t\t\t31 Dec 2022 \u00a0
\n\t\t\t\t\t31 Dec 2021 \u00a0
\n\t\t\t\t\t31 Dec 2022 \u00a0
\n\t\t\t\t\t31 Dec 2021 \u00a0
\n\t\t\t\t\t31 Dec 2022 \u00a0
\n\t\t\t\t\t31 Dec 2021 \u00a0
\n\t\t\t\t\tSEK2 \u00a0
\n\t\t\t\t\tBuy \u00a0
\n\t\t\t\t\tLess than 1 year \u00a0
\n\t\t\t\t\t0.0943 \u00a0
\n\t\t\t\t\t0.0927 \u00a0
\n\t\t\t\t\t7,661.54 \u00a0
\n\t\t\t\t\t334.18 \u00a0
\n\t\t\t\t\t722.30 \u00a0
\n\t\t\t\t\t30.99 \u00a0
\n\t\t\t\t\t-35.8 \u00a0
\n\t\t\t\t\t1.3 \u00a0
\n\t\t\t\t\tMore than 1 year \u00a0
\n\t\t\t\t\t0.0938 \u00a0
\n\t\t\t\t\t0.0915 \u00a0
\n\t\t\t\t\t8,963.35 \u00a0
\n\t\t\t\t\t23.82 \u00a0
\n\t\t\t\t\t840.94 \u00a0
\n\t\t\t\t\t2.18 \u00a0
\n\t\t\t\t\t-37.8 \u00a0
\n\t\t\t\t\t0.1 \u00a0
\n\t\t\t\t\tSell \u00a0
\n\t\t\t\t\tLess than 1 year \u00a0
\n\t\t\t\t\t0.0926 \u00a0
\n\t\t\t\t\t0.0963 \u00a0
\n\t\t\t\t\t6,873.45 \u00a0
\n\t\t\t\t\t6.96 \u00a0
\n\t\t\t\t\t636.51 \u00a0
\n\t\t\t\t\t0.67 \u00a0
\n\t\t\t\t\t20.6 \u00a0
\n\t\t\t\t\tMore than 1 year \u00a0
\n\t\t\t\t\t0.0940 \u00a0
\n\t\t\t\t\t3,431.63 \u00a0
\n\t\t\t\t\t322.62 \u00a0
\n\t\t\t\t\t15.1 \u00a0
\n\t\t\t\t\tUSD \u00a0
\n\t\t\t\t\tBuy \u00a0
\n\t\t\t\t\tLess than 1 year \u00a0
\n\t\t\t\t\t0.9410 \u00a0
\n\t\t\t\t\t0.8445 \u00a0
\n\t\t\t\t\t562.29 \u00a0
\n\t\t\t\t\t25.43 \u00a0
\n\t\t\t\t\t529.13 \u00a0
\n\t\t\t\t\t21.48 \u00a0
\n\t\t\t\t\t-9.5 \u00a0
\n\t\t\t\t\t0.7 \u00a0
\n\t\t\t\t\tMore than 1 year \u00a0
\n\t\t\t\t\t0.9486 \u00a0
\n\t\t\t\t\t0.8631 \u00a0
\n\t\t\t\t\t281.06 \u00a0
\n\t\t\t\t\t19.70 \u00a0
\n\t\t\t\t\t266.62 \u00a0
\n\t\t\t\t\t17.00 \u00a0
\n\t\t\t\t\t-10.6 \u00a0
\n\t\t\t\t\tSell \u00a0
\n\t\t\t\t\tLess than 1 year \u00a0
\n\t\t\t\t\t0.9697 \u00a0
\n\t\t\t\t\t0.8494 \u00a0
\n\t\t\t\t\t542.51 \u00a0
\n\t\t\t\t\t64.73 \u00a0
\n\t\t\t\t\t526.09 \u00a0
\n\t\t\t\t\t54.98 \u00a0
\n\t\t\t\t\t25.1 \u00a0
\n\t\t\t\t\t-1.6 \u00a0
\n\t\t\t\t\tMore than 1 year \u00a0
\n\t\t\t\t\t0.9341 \u00a0
\n\t\t\t\t\t0.8382 \u00a0
\n\t\t\t\t\t617.35 \u00a0
\n\t\t\t\t\t10.35 \u00a0
\n\t\t\t\t\t576.67 \u00a0
\n\t\t\t\t\t8.68 \u00a0
\n\t\t\t\t\t15.8 \u00a0
\n\t\t\t\t\t-0.2 \u00a0
\n\t\t\t\t\tLess than 1 year \u00a0
\n\t\t\t\t\t1.1522 \u00a0
\n\t\t\t\t\t1.1570 \u00a0
\n\t\t\t\t\t104.12 \u00a0
\n\t\t\t\t\t42.90 \u00a0
\n\t\t\t\t\t119.97 \u00a0
\n\t\t\t\t\t49.63 \u00a0
\n\t\t\t\t\t-3.3 \u00a0
\n\t\t\t\t\t1.0 \u00a0
\n\t\t\t\t\tGBP \u00a0
\n\t\t\t\t\tBuy \u00a0
\n\t\t\t\t\tMore than 1 year \u00a0
\n\t\t\t\t\t1.1626 \u00a0
\n\t\t\t\t\t1.1458 \u00a0
\n\t\t\t\t\t35.24 \u00a0
\n\t\t\t\t\t31.32 \u00a0
\n\t\t\t\t\t40.97 \u00a0
\n\t\t\t\t\t35.98 \u00a0
\n\t\t\t\t\t-1.7 \u00a0
\n\t\t\t\t\t0.6 \u00a0
\n\t\t\t\t\tSell \u00a0
\n\t\t\t\t\tLess than 1 year \u00a0
\n\t\t\t\t\t1.1551 \u00a0
\n\t\t\t\t\t1.1398 \u00a0
\n\t\t\t\t\t144.55 \u00a0
\n\t\t\t\t\t80.20 \u00a0
\n\t\t\t\t\t166.98 \u00a0
\n\t\t\t\t\t91.41 \u00a0
\n\t\t\t\t\t5.1 \u00a0
\n\t\t\t\t\t-3.1 \u00a0
\n\t\t\t\t\tMore than 1 year \u00a0
\n\t\t\t\t\t1.1702 \u00a0
\n\t\t\t\t\t1.1364 \u00a0
\n\t\t\t\t\t196.46 \u00a0
\n\t\t\t\t\t19.93 \u00a0
\n\t\t\t\t\t229.90 \u00a0
\n\t\t\t\t\t22.64 \u00a0
\n\t\t\t\t\t9.8 \u00a0
\n\t\t\t\t\t-0.5 \u00a0
\n\t\t\t\t\tNOK \u00a0
\n\t\t\t\t\tBuy \u00a0
\n\t\t\t\t\tLess than 1 year \u00a0
\n\t\t\t\t\t0.0975 \u00a0
\n\t\t\t\t\t0.0980 \u00a0
\n\t\t\t\t\t329.04 \u00a0
\n\t\t\t\t\t130.00 \u00a0
\n\t\t\t\t\t32.08 \u00a0
\n\t\t\t\t\t12.74 \u00a0
\n\t\t\t\t\t-1.7 \u00a0
\n\t\t\t\t\t0.1 \u00a0
\n\t\t\t\t\tMore than 1 year \u00a0
\n\t\t\t\t\t0.1028 \u00a0
\n\t\t\t\t\t0.0975 \u00a0
\n\t\t\t\t\t151.65 \u00a0
\n\t\t\t\t\t295.00 \u00a0
\n\t\t\t\t\t15.59 \u00a0
\n\t\t\t\t\t28.76 \u00a0
\n\t\t\t\t\t-1.4 \u00a0
\n\t\t\t\t\t-0.3 \u00a0
\n\t\t\t\t\tSell \u00a0
\n\t\t\t\t\tLess than 1 year \u00a0
\n\t\t\t\t\t0.1020 \u00a0
\n\t\t\t\t\t191.14 \u00a0
\n\t\t\t\t\t19.49 \u00a0
\n\t\t\t\t\t1.6 \u00a0
\n\t\t\t\t\tMore than 1 year \u00a0
\n\t\t\t\t\t0.0988 \u00a0
\n\t\t\t\t\t0.0988 \u00a0
\n\t\t\t\t\t14.75 \u00a0
\n\t\t\t\t\t40.00 \u00a0
\n\t\t\t\t\t1.46 \u00a0
\n\t\t\t\t\t4.00 \u00a0
\n\t\t\t\t\t0.1 \u00a0
\n\t\t\t\t\t0.1 \u00a0
\n\t\t\t\t\tCAD \u00a0
\n\t\t\t\t\tBuy \u00a0
\n\t\t\t\t\tLess than 1 year \u00a0
\n\t\t\t\t\t0.7137 \u00a0
\n\t\t\t\t\t24.00 \u00a0
\n\t\t\t\t\t17.13 \u00a0
\n\t\t\t\t\t-0.7 \u00a0
\n\t\t\t\t\tMore than 1 year \u00a0
\n\t\t\t\t\tSell \u00a0
\n\t\t\t\t\tLess than 1 year \u00a0
\n\t\t\t\t\t0.7413 \u00a0
\n\t\t\t\t\t67.96 \u00a0
\n\t\t\t\t\t50.38 \u00a0
\n\t\t\t\t\t4.0 \u00a0
\n\t\t\t\t\tMore than 1 year \u00a0
\n\t\t\t\t\t0.7500 \u00a0
\n\t\t\t\t\t45.30 \u00a0
\n\t\t\t\t\t33.98 \u00a0
\n\t\t\t\t\t3.4 \u00a0
\n\t\t\t\t\tCash flow hedges reported as assets \u00a0
\n\t\t\t\t\t74.5 \u00a0
\n\t\t\t\t\t4.4 \u00a0
\n\t\t\t\t\tCash flow hedges reported as liabilities \u00a0
\n\t\t\t\t\t76.4 \u00a0
\n\t\t\t\t\t6.2 \u00a0
\n\t\t\t\t\tEUR/Local currency \u00a0
\n\t\t\t\t\t1
\n\t\t\t\t\t2
\n\t\t\t\t\tFor hedges in Local currency/SEK the SEK part has been tranferred to EUR, and a value of the SEK part has been calculated. \u00a0
Raw material price risks \u00a0
\n\t\t\t\t\tRaw material price risks primarily relate to metals and plastics used in \u00a0
\n\t\t\t\t\tthe cable production. When changes in raw material prices cannot be \u00a0
\n\t\t\t\t\ttransferred to customers, NKT uses financial instruments to hedge the \u00a0
\n\t\t\t\t\tprice risks. NKT has, due to the larger order backlog, a high amount of raw \u00a0
\n\t\t\t\t\tmaterial derivatives to cover the risks related to the large future purchases \u00a0
\n\t\t\t\t\tof especially copper. Exposures and hedging of current and expected \u00a0
\n\t\t\t\t\tfuture raw material risks are managed by the businesses based on adopted \u00a0
\n\t\t\t\t\tGroup guidelines. Hedging of awarded projects are done at the time of \u00a0
\n\t\t\t\t\taward and adjusted according to changes in production plans. \u00a0
\n\t\t\t\t\tNKT hedge raw material via LME. Changes in the fair value of the hedging \u00a0
\n\t\t\t\t\tinstrument should offset changes in the value of the underlying item be- \u00a0
\n\t\t\t\t\tcause the reference prices are the same for the hedging instrument and the \u00a0
\n\t\t\t\t\thedged item. NKT applies cost of hedging, whereby the forward points are \u00a0
\n\t\t\t\t\trecognized in other comprehensive income and transferred with the effective \u00a0
\n\t\t\t\t\thedge when the hedged transaction occurs.. For the hedge of plastic, inef- \u00a0
\n\t\t\t\t\tfectiveness will arise as this is hedged via a gas-oil proxy hedge. Ineffective- \u00a0
\n\t\t\t\t\tness because of differences in the change between gas-oil and plastic are \u00a0
\n\t\t\t\t\tconsidered insignificant. \u00a0
\n\t\t\t\t\tAs at 31 December 2022, NKT A/S had current financial hedging instru- \u00a0
\n\t\t\t\t\tments relating to future raw material supplies of a value of EUR 908.6m \u00a0
\n\t\t\t\t\t(EUR 468.6m in 2021) with a positive fair value of EUR 170.6m (positive \u00a0
\n\t\t\t\t\tvalue of EUR 225.2m in 2021). \u00a0
\n\t\t\t\t\tSensitivity to the development (+/- 10%) in raw material prices was present- \u00a0
\n\t\t\t\t\ted in the table on page 82. The table to the right provides an overview of \u00a0
\n\t\t\t\t\tthe cash flow hedges related to raw materials. \u00a0
Average rate \u00a0
\n\t\t\t\t\tNotional value \u00a0
\n\t\t\t\t\tFair value \u00a0
\n\t\t\t\t\tCash flow hedges related to raw materials \u00a0
\n\t\t\t\t\tEUR/ton \u00a0
\n\t\t\t\t\tEURm \u00a0
\n\t\t\t\t\tEURm \u00a0
\n\t\t\t\t\tCommodity \u00a0
\n\t\t\t\t\t31 Dec 2022 \u00a0
\n\t\t\t\t\t31 Dec 2021 \u00a0
\n\t\t\t\t\t31 Dec 2022 \u00a0
\n\t\t\t\t\t31 Dec 2021 \u00a0
\n\t\t\t\t\t31 Dec 2022 \u00a0
\n\t\t\t\t\t31 Dec 2021 \u00a0
\n\t\t\t\t\tCopper \u00a0
\n\t\t\t\t\tBuy \u00a0
\n\t\t\t\t\tLess than 1 year \u00a0
\n\t\t\t\t\t5,961 \u00a0
\n\t\t\t\t\t5,882 \u00a0
\n\t\t\t\t\t528.6 \u00a0
\n\t\t\t\t\t321.0 \u00a0
\n\t\t\t\t\t169.6 \u00a0
\n\t\t\t\t\t147.3 \u00a0
\n\t\t\t\t\tMore than 1 year \u00a0
\n\t\t\t\t\t7,485 \u00a0
\n\t\t\t\t\t5,516 \u00a0
\n\t\t\t\t\t301.2 \u00a0
\n\t\t\t\t\t231.7 \u00a0
\n\t\t\t\t\t15.6 \u00a0
\n\t\t\t\t\t123.7 \u00a0
\n\t\t\t\t\tSell \u00a0
\n\t\t\t\t\tLess than 1 year \u00a0
\n\t\t\t\t\t6,421 \u00a0
\n\t\t\t\t\t5,733 \u00a0
\n\t\t\t\t\t-119.4 \u00a0
\n\t\t\t\t\t100.5 \u00a0
\n\t\t\t\t\t-26.9 \u00a0
\n\t\t\t\t\t-47.4 \u00a0
\n\t\t\t\t\tMore than 1 year \u00a0
\n\t\t\t\t\t5,371 \u00a0
\n\t\t\t\t\t14.9 \u00a0
\n\t\t\t\t\t-8.9 \u00a0
\n\t\t\t\t\tLead \u00a0
\n\t\t\t\t\tBuy \u00a0
\n\t\t\t\t\tLess than 1 year \u00a0
\n\t\t\t\t\t1,843 \u00a0
\n\t\t\t\t\t1,677 \u00a0
\n\t\t\t\t\t20.0 \u00a0
\n\t\t\t\t\t18.6 \u00a0
\n\t\t\t\t\t4.0 \u00a0
\n\t\t\t\t\t4.3 \u00a0
\n\t\t\t\t\tMore than 1 year \u00a0
\n\t\t\t\t\t1,897 \u00a0
\n\t\t\t\t\t1,721 \u00a0
\n\t\t\t\t\t10.2 \u00a0
\n\t\t\t\t\t3.1 \u00a0
\n\t\t\t\t\t1.7 \u00a0
\n\t\t\t\t\t0.7 \u00a0
\n\t\t\t\t\tSell \u00a0
\n\t\t\t\t\tLess than 1 year \u00a0
\n\t\t\t\t\t1,885 \u00a0
\n\t\t\t\t\t1,647 \u00a0
\n\t\t\t\t\t-3.2 \u00a0
\n\t\t\t\t\t8.0 \u00a0
\n\t\t\t\t\t-0.5 \u00a0
\n\t\t\t\t\t-1.9 \u00a0
\n\t\t\t\t\tMore than 1 year \u00a0
\n\t\t\t\t\t1,872 \u00a0
\n\t\t\t\t\t1.4 \u00a0
\n\t\t\t\t\tAluminium \u00a0
\n\t\t\t\t\tBuy \u00a0
\n\t\t\t\t\tLess than 1 year \u00a0
\n\t\t\t\t\t2,349 \u00a0
\n\t\t\t\t\t1,778 \u00a0
\n\t\t\t\t\t13.3 \u00a0
\n\t\t\t\t\t9.2 \u00a0
\n\t\t\t\t\t-0.8 \u00a0
\n\t\t\t\t\t4.0 \u00a0
\n\t\t\t\t\tMore than 1 year \u00a0
\n\t\t\t\t\tSell \u00a0
\n\t\t\t\t\tLess than 1 year \u00a0
\n\t\t\t\t\t2,312 \u00a0
\n\t\t\t\t\t1,563 \u00a0
\n\t\t\t\t\t-24.9 \u00a0
\n\t\t\t\t\t2.7 \u00a0
\n\t\t\t\t\t1.1 \u00a0
\n\t\t\t\t\t-1.6 \u00a0
\n\t\t\t\t\tMore than 1 year \u00a0
\n\t\t\t\t\tGas-oil \u00a0
\n\t\t\t\t\tBuy \u00a0
\n\t\t\t\t\tLess than 1 year \u00a0
\n\t\t\t\t\t620 \u00a0
\n\t\t\t\t\t420 \u00a0
\n\t\t\t\t\t20.4 \u00a0
\n\t\t\t\t\t6.6 \u00a0
\n\t\t\t\t\t5.5 \u00a0
\n\t\t\t\t\t2.6 \u00a0
\n\t\t\t\t\tMore than 1 year \u00a0
\n\t\t\t\t\t613 \u00a0
\n\t\t\t\t\t412 \u00a0
\n\t\t\t\t\t13.0 \u00a0
\n\t\t\t\t\t8.3 \u00a0
\n\t\t\t\t\t1.5 \u00a0
\n\t\t\t\t\t2.5 \u00a0
\n\t\t\t\t\tSell \u00a0
\n\t\t\t\t\tLess than 1 year \u00a0
\n\t\t\t\t\t634 \u00a0
\n\t\t\t\t\t578 \u00a0
\n\t\t\t\t\t-2.0 \u00a0
\n\t\t\t\t\t2.1 \u00a0
\n\t\t\t\t\t-0.6 \u00a0
\n\t\t\t\t\t-0.1 \u00a0
\n\t\t\t\t\tMore than 1 year \u00a0
\n\t\t\t\t\t847 \u00a0
\n\t\t\t\t\t573 \u00a0
\n\t\t\t\t\t-2.9 \u00a0
\n\t\t\t\t\t0.3 \u00a0
\n\t\t\t\t\t0.6 \u00a0
\n\t\t\t\t\tCash flow hedges reported as assets \u00a0
\n\t\t\t\t\t171.0 \u00a0
\n\t\t\t\t\t225.8 \u00a0
\n\t\t\t\t\tCash flow hedges reported as liabilities \u00a0
\n\t\t\t\t\t0.2 \u00a0
\n\t\t\t\t\t0.6 \u00a0
Foreign \u00a0
\n\t\t\t\t\texchange Interest
rate Commodity \u00a0
\n\t\t\t\t\tAmounts in EURm \u00a0
\n\t\t\t\t\trisk hedging
risk hedging
risk hedging \u00a0
\n\t\t\t\t\tTotal \u00a0
\n\t\t\t\t\tBalance at 1 January 2021 \u00a0
\n\t\t\t\t\t-0.4 \u00a0
\n\t\t\t\t\t-0.1 \u00a0
\n\t\t\t\t\t72.4 \u00a0
\n\t\t\t\t\t71.9 \u00a0
\n\t\t\t\t\tGain arising from changes in fair value of hedging instruments \u00a0
\n\t\t\t\t\t5.7 \u00a0
\n\t\t\t\t\t0.9 \u00a0
\n\t\t\t\t\t220.2 \u00a0
\n\t\t\t\t\t226.8 \u00a0
\n\t\t\t\t\tIncome tax related to gains recognized in other comprehensive income \u00a0
\n\t\t\t\t\t-1.3 \u00a0
\n\t\t\t\t\t-0.2 \u00a0
\n\t\t\t\t\t-55.7 \u00a0
\n\t\t\t\t\t-57.2 \u00a0
\n\t\t\t\t\tGain reclassified to profit or loss - hedged items have affected profit or loss \u00a0
\n\t\t\t\t\t-8.9 \u00a0
\n\t\t\t\t\t0.0 \u00a0
\n\t\t\t\t\t-68.3 \u00a0
\n\t\t\t\t\t-77.2 \u00a0
\n\t\t\t\t\tIncome tax related to amounts reclassified to profit or loss \u00a0
\n\t\t\t\t\t1.8 \u00a0
\n\t\t\t\t\t0.0 \u00a0
\n\t\t\t\t\t16.6 \u00a0
\n\t\t\t\t\t18.4 \u00a0
\n\t\t\t\t\tExchange rate adjustments \u00a0
\n\t\t\t\t\t-0.2 \u00a0
\n\t\t\t\t\t0.0 \u00a0
\n\t\t\t\t\t-0.5 \u00a0
\n\t\t\t\t\t-0.7 \u00a0
\n\t\t\t\t\tBalance at 31 December 2021 \u00a0
\n\t\t\t\t\t-3.3 \u00a0
\n\t\t\t\t\t0.6 \u00a0
\n\t\t\t\t\t184.7 \u00a0
\n\t\t\t\t\t182.0 \u00a0
\n\t\t\t\t\tGain/(loss) arising from changes in fair value of hedging instruments during the period \u00a0
\n\t\t\t\t\t0.9 \u00a0
\n\t\t\t\t\t6.7 \u00a0
\n\t\t\t\t\t72.9 \u00a0
\n\t\t\t\t\t80.5 \u00a0
\n\t\t\t\t\tIncome tax related to gains/(losses) recognized in other comprehensive income \u00a0
\n\t\t\t\t\tduring the period \u00a0
\n\t\t\t\t\t-0.2 \u00a0
\n\t\t\t\t\t-1.5 \u00a0
\n\t\t\t\t\t-10.2 \u00a0
\n\t\t\t\t\t-11.9 \u00a0
\n\t\t\t\t\t(Gain)/loss reclassified to profit or loss - hedged items have affected profit or loss \u00a0
\n\t\t\t\t\t3.0 \u00a0
\n\t\t\t\t\t0.0 \u00a0
\n\t\t\t\t\t-125.8 \u00a0
\n\t\t\t\t\t-122.8 \u00a0
\n\t\t\t\t\tIncome tax related to amounts reclassified to profit or loss \u00a0
\n\t\t\t\t\t-0.6 \u00a0
\n\t\t\t\t\t0.0 \u00a0
\n\t\t\t\t\t27.5 \u00a0
\n\t\t\t\t\t26.9 \u00a0
\n\t\t\t\t\tExchange rate adjustments \u00a0
\n\t\t\t\t\t-0.1 \u00a0
\n\t\t\t\t\t0.0 \u00a0
\n\t\t\t\t\t-9.0 \u00a0
\n\t\t\t\t\t-9.1 \u00a0
\n\t\t\t\t\tBalance at 31 December 2022 \u00a0
\n\t\t\t\t\t-0.3 \u00a0
\n\t\t\t\t\t5.8 \u00a0
\n\t\t\t\t\t140.1 \u00a0
\n\t\t\t\t\t145.6 \u00a0
Foreign \u00a0
\n\t\t\t\t\texchange Interest
rate Commodity \u00a0
\n\t\t\t\t\tAmounts in EURm \u00a0
\n\t\t\t\t\trisk hedging
risk hedging
risk hedging \u00a0
\n\t\t\t\t\tTotal \u00a0
\n\t\t\t\t\tBalance at 1 January 2021 \u00a0
\n\t\t\t\t\t0.0 \u00a0
\n\t\t\t\t\t0.0 \u00a0
\n\t\t\t\t\t0.0 \u00a0
\n\t\t\t\t\t0.0 \u00a0
\n\t\t\t\t\tLoss arising from changes in fair value of hedging instruments \u00a0
\n\t\t\t\t\t-1.4 \u00a0
\n\t\t\t\t\t0.0 \u00a0
\n\t\t\t\t\t-23.4 \u00a0
\n\t\t\t\t\t-24.8 \u00a0
\n\t\t\t\t\tIncome tax related to loss recognized in other comprehensive income \u00a0
\n\t\t\t\t\t0.4 \u00a0
\n\t\t\t\t\t0.0 \u00a0
\n\t\t\t\t\t5.8 \u00a0
\n\t\t\t\t\t6.2 \u00a0
\n\t\t\t\t\tLoss reclassified to profit or loss - hedged items have affected profit or loss \u00a0
\n\t\t\t\t\t0.0 \u00a0
\n\t\t\t\t\t0.0 \u00a0
\n\t\t\t\t\t3.3 \u00a0
\n\t\t\t\t\t3.3 \u00a0
\n\t\t\t\t\tIncome tax related to amounts reclassified to profit or loss \u00a0
\n\t\t\t\t\t0.0 \u00a0
\n\t\t\t\t\t0.0 \u00a0
\n\t\t\t\t\t-0.8 \u00a0
\n\t\t\t\t\t-0.8 \u00a0
\n\t\t\t\t\tExchange rate adjustments \u00a0
\n\t\t\t\t\t0.0 \u00a0
\n\t\t\t\t\t0.0 \u00a0
\n\t\t\t\t\t-0.1 \u00a0
\n\t\t\t\t\t-0.1 \u00a0
\n\t\t\t\t\tBalance at 31 December 2021 \u00a0
\n\t\t\t\t\t-1.0 \u00a0
\n\t\t\t\t\t0.0 \u00a0
\n\t\t\t\t\t-15.2 \u00a0
\n\t\t\t\t\t-16.2 \u00a0
\n\t\t\t\t\tGain/(loss) arising from changes in fair value of hedging instruments during the period \u00a0
\n\t\t\t\t\t1.3 \u00a0
\n\t\t\t\t\t0.0 \u00a0
\n\t\t\t\t\t0.4 \u00a0
\n\t\t\t\t\t1.7 \u00a0
\n\t\t\t\t\tIncome tax related to gains/(losses) recognized in other comprehensive income \u00a0
\n\t\t\t\t\tduring the period \u00a0
\n\t\t\t\t\t-0.3 \u00a0
\n\t\t\t\t\t0.0 \u00a0
\n\t\t\t\t\t-0.1 \u00a0
\n\t\t\t\t\t-0.4 \u00a0
\n\t\t\t\t\t(Gain)/loss reclassified to profit or loss - hedged items have affected profit or loss \u00a0
\n\t\t\t\t\t0.0 \u00a0
\n\t\t\t\t\t0.0 \u00a0
\n\t\t\t\t\t2.9 \u00a0
\n\t\t\t\t\t2.9 \u00a0
\n\t\t\t\t\tIncome tax related to amounts reclassified to profit or loss \u00a0
\n\t\t\t\t\t0.0 \u00a0
\n\t\t\t\t\t0.0 \u00a0
\n\t\t\t\t\t-0.7 \u00a0
\n\t\t\t\t\t-0.7 \u00a0
\n\t\t\t\t\tExchange rate adjustments \u00a0
\n\t\t\t\t\t0.0 \u00a0
\n\t\t\t\t\t0.0 \u00a0
\n\t\t\t\t\t0.0 \u00a0
\n\t\t\t\t\t0.0 \u00a0
\n\t\t\t\t\tBalance at 31 December 2022 \u00a0
\n\t\t\t\t\t0.0 \u00a0
\n\t\t\t\t\t0.0 \u00a0
\n\t\t\t\t\t-12.7 \u00a0
\n\t\t\t\t\t-12.7 \u00a0
\n\t\t\t\t\tOf the fair values recorded in other comprehensive income, EUR 0.6m is expected to be recorded in Revenue (EUR 3.6m in 2021) and EUR 132.3m \u00a0
\n\t\t\t\t\t(EUR 161.5m in 2021) is expected to be recorded in Cost of raw materials, consumables and goods for resale. \u00a0
",
"dimensions": {
"concept": "ifrs-full:DisclosureOfMarketRiskExplanatory",
"language": "en",
"entity": "scheme:529900197LKWCEQ0NL18",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"fact2478": {
"value": "Cash flow hedges related to \u00a0
\n\t\t\t\t\tNotional value \u00a0
\n\t\t\t\t\tNotional value \u00a0
\n\t\t\t\t\tFair value \u00a0
\n\t\t\t\t\tthe most significant currencies \u00a0
\n\t\t\t\t\tAverage exchange rate1 \u00a0
\n\t\t\t\t\tLocal currency in million \u00a0
\n\t\t\t\t\tEURm \u00a0
\n\t\t\t\t\tEURm \u00a0
\n\t\t\t\t\tLocal currency \u00a0
\n\t\t\t\t\t31 Dec 2022 \u00a0
\n\t\t\t\t\t31 Dec 2021 \u00a0
\n\t\t\t\t\t31 Dec 2022 \u00a0
\n\t\t\t\t\t31 Dec 2021 \u00a0
\n\t\t\t\t\t31 Dec 2022 \u00a0
\n\t\t\t\t\t31 Dec 2021 \u00a0
\n\t\t\t\t\t31 Dec 2022 \u00a0
\n\t\t\t\t\t31 Dec 2021 \u00a0
\n\t\t\t\t\tSEK2 \u00a0
\n\t\t\t\t\tBuy \u00a0
\n\t\t\t\t\tLess than 1 year \u00a0
\n\t\t\t\t\t0.0943 \u00a0
\n\t\t\t\t\t0.0927 \u00a0
\n\t\t\t\t\t7,661.54 \u00a0
\n\t\t\t\t\t334.18 \u00a0
\n\t\t\t\t\t722.30 \u00a0
\n\t\t\t\t\t30.99 \u00a0
\n\t\t\t\t\t-35.8 \u00a0
\n\t\t\t\t\t1.3 \u00a0
\n\t\t\t\t\tMore than 1 year \u00a0
\n\t\t\t\t\t0.0938 \u00a0
\n\t\t\t\t\t0.0915 \u00a0
\n\t\t\t\t\t8,963.35 \u00a0
\n\t\t\t\t\t23.82 \u00a0
\n\t\t\t\t\t840.94 \u00a0
\n\t\t\t\t\t2.18 \u00a0
\n\t\t\t\t\t-37.8 \u00a0
\n\t\t\t\t\t0.1 \u00a0
\n\t\t\t\t\tSell \u00a0
\n\t\t\t\t\tLess than 1 year \u00a0
\n\t\t\t\t\t0.0926 \u00a0
\n\t\t\t\t\t0.0963 \u00a0
\n\t\t\t\t\t6,873.45 \u00a0
\n\t\t\t\t\t6.96 \u00a0
\n\t\t\t\t\t636.51 \u00a0
\n\t\t\t\t\t0.67 \u00a0
\n\t\t\t\t\t20.6 \u00a0
\n\t\t\t\t\tMore than 1 year \u00a0
\n\t\t\t\t\t0.0940 \u00a0
\n\t\t\t\t\t3,431.63 \u00a0
\n\t\t\t\t\t322.62 \u00a0
\n\t\t\t\t\t15.1 \u00a0
\n\t\t\t\t\tUSD \u00a0
\n\t\t\t\t\tBuy \u00a0
\n\t\t\t\t\tLess than 1 year \u00a0
\n\t\t\t\t\t0.9410 \u00a0
\n\t\t\t\t\t0.8445 \u00a0
\n\t\t\t\t\t562.29 \u00a0
\n\t\t\t\t\t25.43 \u00a0
\n\t\t\t\t\t529.13 \u00a0
\n\t\t\t\t\t21.48 \u00a0
\n\t\t\t\t\t-9.5 \u00a0
\n\t\t\t\t\t0.7 \u00a0
\n\t\t\t\t\tMore than 1 year \u00a0
\n\t\t\t\t\t0.9486 \u00a0
\n\t\t\t\t\t0.8631 \u00a0
\n\t\t\t\t\t281.06 \u00a0
\n\t\t\t\t\t19.70 \u00a0
\n\t\t\t\t\t266.62 \u00a0
\n\t\t\t\t\t17.00 \u00a0
\n\t\t\t\t\t-10.6 \u00a0
\n\t\t\t\t\tSell \u00a0
\n\t\t\t\t\tLess than 1 year \u00a0
\n\t\t\t\t\t0.9697 \u00a0
\n\t\t\t\t\t0.8494 \u00a0
\n\t\t\t\t\t542.51 \u00a0
\n\t\t\t\t\t64.73 \u00a0
\n\t\t\t\t\t526.09 \u00a0
\n\t\t\t\t\t54.98 \u00a0
\n\t\t\t\t\t25.1 \u00a0
\n\t\t\t\t\t-1.6 \u00a0
\n\t\t\t\t\tMore than 1 year \u00a0
\n\t\t\t\t\t0.9341 \u00a0
\n\t\t\t\t\t0.8382 \u00a0
\n\t\t\t\t\t617.35 \u00a0
\n\t\t\t\t\t10.35 \u00a0
\n\t\t\t\t\t576.67 \u00a0
\n\t\t\t\t\t8.68 \u00a0
\n\t\t\t\t\t15.8 \u00a0
\n\t\t\t\t\t-0.2 \u00a0
\n\t\t\t\t\tLess than 1 year \u00a0
\n\t\t\t\t\t1.1522 \u00a0
\n\t\t\t\t\t1.1570 \u00a0
\n\t\t\t\t\t104.12 \u00a0
\n\t\t\t\t\t42.90 \u00a0
\n\t\t\t\t\t119.97 \u00a0
\n\t\t\t\t\t49.63 \u00a0
\n\t\t\t\t\t-3.3 \u00a0
\n\t\t\t\t\t1.0 \u00a0
\n\t\t\t\t\tGBP \u00a0
\n\t\t\t\t\tBuy \u00a0
\n\t\t\t\t\tMore than 1 year \u00a0
\n\t\t\t\t\t1.1626 \u00a0
\n\t\t\t\t\t1.1458 \u00a0
\n\t\t\t\t\t35.24 \u00a0
\n\t\t\t\t\t31.32 \u00a0
\n\t\t\t\t\t40.97 \u00a0
\n\t\t\t\t\t35.98 \u00a0
\n\t\t\t\t\t-1.7 \u00a0
\n\t\t\t\t\t0.6 \u00a0
\n\t\t\t\t\tSell \u00a0
\n\t\t\t\t\tLess than 1 year \u00a0
\n\t\t\t\t\t1.1551 \u00a0
\n\t\t\t\t\t1.1398 \u00a0
\n\t\t\t\t\t144.55 \u00a0
\n\t\t\t\t\t80.20 \u00a0
\n\t\t\t\t\t166.98 \u00a0
\n\t\t\t\t\t91.41 \u00a0
\n\t\t\t\t\t5.1 \u00a0
\n\t\t\t\t\t-3.1 \u00a0
\n\t\t\t\t\tMore than 1 year \u00a0
\n\t\t\t\t\t1.1702 \u00a0
\n\t\t\t\t\t1.1364 \u00a0
\n\t\t\t\t\t196.46 \u00a0
\n\t\t\t\t\t19.93 \u00a0
\n\t\t\t\t\t229.90 \u00a0
\n\t\t\t\t\t22.64 \u00a0
\n\t\t\t\t\t9.8 \u00a0
\n\t\t\t\t\t-0.5 \u00a0
\n\t\t\t\t\tNOK \u00a0
\n\t\t\t\t\tBuy \u00a0
\n\t\t\t\t\tLess than 1 year \u00a0
\n\t\t\t\t\t0.0975 \u00a0
\n\t\t\t\t\t0.0980 \u00a0
\n\t\t\t\t\t329.04 \u00a0
\n\t\t\t\t\t130.00 \u00a0
\n\t\t\t\t\t32.08 \u00a0
\n\t\t\t\t\t12.74 \u00a0
\n\t\t\t\t\t-1.7 \u00a0
\n\t\t\t\t\t0.1 \u00a0
\n\t\t\t\t\tMore than 1 year \u00a0
\n\t\t\t\t\t0.1028 \u00a0
\n\t\t\t\t\t0.0975 \u00a0
\n\t\t\t\t\t151.65 \u00a0
\n\t\t\t\t\t295.00 \u00a0
\n\t\t\t\t\t15.59 \u00a0
\n\t\t\t\t\t28.76 \u00a0
\n\t\t\t\t\t-1.4 \u00a0
\n\t\t\t\t\t-0.3 \u00a0
\n\t\t\t\t\tSell \u00a0
\n\t\t\t\t\tLess than 1 year \u00a0
\n\t\t\t\t\t0.1020 \u00a0
\n\t\t\t\t\t191.14 \u00a0
\n\t\t\t\t\t19.49 \u00a0
\n\t\t\t\t\t1.6 \u00a0
\n\t\t\t\t\tMore than 1 year \u00a0
\n\t\t\t\t\t0.0988 \u00a0
\n\t\t\t\t\t0.0988 \u00a0
\n\t\t\t\t\t14.75 \u00a0
\n\t\t\t\t\t40.00 \u00a0
\n\t\t\t\t\t1.46 \u00a0
\n\t\t\t\t\t4.00 \u00a0
\n\t\t\t\t\t0.1 \u00a0
\n\t\t\t\t\t0.1 \u00a0
\n\t\t\t\t\tCAD \u00a0
\n\t\t\t\t\tBuy \u00a0
\n\t\t\t\t\tLess than 1 year \u00a0
\n\t\t\t\t\t0.7137 \u00a0
\n\t\t\t\t\t24.00 \u00a0
\n\t\t\t\t\t17.13 \u00a0
\n\t\t\t\t\t-0.7 \u00a0
\n\t\t\t\t\tMore than 1 year \u00a0
\n\t\t\t\t\tSell \u00a0
\n\t\t\t\t\tLess than 1 year \u00a0
\n\t\t\t\t\t0.7413 \u00a0
\n\t\t\t\t\t67.96 \u00a0
\n\t\t\t\t\t50.38 \u00a0
\n\t\t\t\t\t4.0 \u00a0
\n\t\t\t\t\tMore than 1 year \u00a0
\n\t\t\t\t\t0.7500 \u00a0
\n\t\t\t\t\t45.30 \u00a0
\n\t\t\t\t\t33.98 \u00a0
\n\t\t\t\t\t3.4 \u00a0
\n\t\t\t\t\tCash flow hedges reported as assets \u00a0
\n\t\t\t\t\t74.5 \u00a0
\n\t\t\t\t\t4.4 \u00a0
\n\t\t\t\t\tCash flow hedges reported as liabilities \u00a0
\n\t\t\t\t\t76.4 \u00a0
\n\t\t\t\t\t6.2 \u00a0
\n\t\t\t\t\tEUR/Local currency \u00a0
\n\t\t\t\t\t1
\n\t\t\t\t\t2
\n\t\t\t\t\tFor hedges in Local currency/SEK the SEK part has been tranferred to EUR, and a value of the SEK part has been calculated. \u00a0
Raw material price risks \u00a0
\n\t\t\t\t\tRaw material price risks primarily relate to metals and plastics used in \u00a0
\n\t\t\t\t\tthe cable production. When changes in raw material prices cannot be \u00a0
\n\t\t\t\t\ttransferred to customers, NKT uses financial instruments to hedge the \u00a0
\n\t\t\t\t\tprice risks. NKT has, due to the larger order backlog, a high amount of raw \u00a0
\n\t\t\t\t\tmaterial derivatives to cover the risks related to the large future purchases \u00a0
\n\t\t\t\t\tof especially copper. Exposures and hedging of current and expected \u00a0
\n\t\t\t\t\tfuture raw material risks are managed by the businesses based on adopted \u00a0
\n\t\t\t\t\tGroup guidelines. Hedging of awarded projects are done at the time of \u00a0
\n\t\t\t\t\taward and adjusted according to changes in production plans. \u00a0
\n\t\t\t\t\tNKT hedge raw material via LME. Changes in the fair value of the hedging \u00a0
\n\t\t\t\t\tinstrument should offset changes in the value of the underlying item be- \u00a0
\n\t\t\t\t\tcause the reference prices are the same for the hedging instrument and the \u00a0
\n\t\t\t\t\thedged item. NKT applies cost of hedging, whereby the forward points are \u00a0
\n\t\t\t\t\trecognized in other comprehensive income and transferred with the effective \u00a0
\n\t\t\t\t\thedge when the hedged transaction occurs.. For the hedge of plastic, inef- \u00a0
\n\t\t\t\t\tfectiveness will arise as this is hedged via a gas-oil proxy hedge. Ineffective- \u00a0
\n\t\t\t\t\tness because of differences in the change between gas-oil and plastic are \u00a0
\n\t\t\t\t\tconsidered insignificant. \u00a0
\n\t\t\t\t\tAs at 31 December 2022, NKT A/S had current financial hedging instru- \u00a0
\n\t\t\t\t\tments relating to future raw material supplies of a value of EUR 908.6m \u00a0
\n\t\t\t\t\t(EUR 468.6m in 2021) with a positive fair value of EUR 170.6m (positive \u00a0
\n\t\t\t\t\tvalue of EUR 225.2m in 2021). \u00a0
\n\t\t\t\t\tSensitivity to the development (+/- 10%) in raw material prices was present- \u00a0
\n\t\t\t\t\ted in the table on page 82. The table to the right provides an overview of \u00a0
\n\t\t\t\t\tthe cash flow hedges related to raw materials. \u00a0
Average rate \u00a0
\n\t\t\t\t\tNotional value \u00a0
\n\t\t\t\t\tFair value \u00a0
\n\t\t\t\t\tCash flow hedges related to raw materials \u00a0
\n\t\t\t\t\tEUR/ton \u00a0
\n\t\t\t\t\tEURm \u00a0
\n\t\t\t\t\tEURm \u00a0
\n\t\t\t\t\tCommodity \u00a0
\n\t\t\t\t\t31 Dec 2022 \u00a0
\n\t\t\t\t\t31 Dec 2021 \u00a0
\n\t\t\t\t\t31 Dec 2022 \u00a0
\n\t\t\t\t\t31 Dec 2021 \u00a0
\n\t\t\t\t\t31 Dec 2022 \u00a0
\n\t\t\t\t\t31 Dec 2021 \u00a0
\n\t\t\t\t\tCopper \u00a0
\n\t\t\t\t\tBuy \u00a0
\n\t\t\t\t\tLess than 1 year \u00a0
\n\t\t\t\t\t5,961 \u00a0
\n\t\t\t\t\t5,882 \u00a0
\n\t\t\t\t\t528.6 \u00a0
\n\t\t\t\t\t321.0 \u00a0
\n\t\t\t\t\t169.6 \u00a0
\n\t\t\t\t\t147.3 \u00a0
\n\t\t\t\t\tMore than 1 year \u00a0
\n\t\t\t\t\t7,485 \u00a0
\n\t\t\t\t\t5,516 \u00a0
\n\t\t\t\t\t301.2 \u00a0
\n\t\t\t\t\t231.7 \u00a0
\n\t\t\t\t\t15.6 \u00a0
\n\t\t\t\t\t123.7 \u00a0
\n\t\t\t\t\tSell \u00a0
\n\t\t\t\t\tLess than 1 year \u00a0
\n\t\t\t\t\t6,421 \u00a0
\n\t\t\t\t\t5,733 \u00a0
\n\t\t\t\t\t-119.4 \u00a0
\n\t\t\t\t\t100.5 \u00a0
\n\t\t\t\t\t-26.9 \u00a0
\n\t\t\t\t\t-47.4 \u00a0
\n\t\t\t\t\tMore than 1 year \u00a0
\n\t\t\t\t\t5,371 \u00a0
\n\t\t\t\t\t14.9 \u00a0
\n\t\t\t\t\t-8.9 \u00a0
\n\t\t\t\t\tLead \u00a0
\n\t\t\t\t\tBuy \u00a0
\n\t\t\t\t\tLess than 1 year \u00a0
\n\t\t\t\t\t1,843 \u00a0
\n\t\t\t\t\t1,677 \u00a0
\n\t\t\t\t\t20.0 \u00a0
\n\t\t\t\t\t18.6 \u00a0
\n\t\t\t\t\t4.0 \u00a0
\n\t\t\t\t\t4.3 \u00a0
\n\t\t\t\t\tMore than 1 year \u00a0
\n\t\t\t\t\t1,897 \u00a0
\n\t\t\t\t\t1,721 \u00a0
\n\t\t\t\t\t10.2 \u00a0
\n\t\t\t\t\t3.1 \u00a0
\n\t\t\t\t\t1.7 \u00a0
\n\t\t\t\t\t0.7 \u00a0
\n\t\t\t\t\tSell \u00a0
\n\t\t\t\t\tLess than 1 year \u00a0
\n\t\t\t\t\t1,885 \u00a0
\n\t\t\t\t\t1,647 \u00a0
\n\t\t\t\t\t-3.2 \u00a0
\n\t\t\t\t\t8.0 \u00a0
\n\t\t\t\t\t-0.5 \u00a0
\n\t\t\t\t\t-1.9 \u00a0
\n\t\t\t\t\tMore than 1 year \u00a0
\n\t\t\t\t\t1,872 \u00a0
\n\t\t\t\t\t1.4 \u00a0
\n\t\t\t\t\tAluminium \u00a0
\n\t\t\t\t\tBuy \u00a0
\n\t\t\t\t\tLess than 1 year \u00a0
\n\t\t\t\t\t2,349 \u00a0
\n\t\t\t\t\t1,778 \u00a0
\n\t\t\t\t\t13.3 \u00a0
\n\t\t\t\t\t9.2 \u00a0
\n\t\t\t\t\t-0.8 \u00a0
\n\t\t\t\t\t4.0 \u00a0
\n\t\t\t\t\tMore than 1 year \u00a0
\n\t\t\t\t\tSell \u00a0
\n\t\t\t\t\tLess than 1 year \u00a0
\n\t\t\t\t\t2,312 \u00a0
\n\t\t\t\t\t1,563 \u00a0
\n\t\t\t\t\t-24.9 \u00a0
\n\t\t\t\t\t2.7 \u00a0
\n\t\t\t\t\t1.1 \u00a0
\n\t\t\t\t\t-1.6 \u00a0
\n\t\t\t\t\tMore than 1 year \u00a0
\n\t\t\t\t\tGas-oil \u00a0
\n\t\t\t\t\tBuy \u00a0
\n\t\t\t\t\tLess than 1 year \u00a0
\n\t\t\t\t\t620 \u00a0
\n\t\t\t\t\t420 \u00a0
\n\t\t\t\t\t20.4 \u00a0
\n\t\t\t\t\t6.6 \u00a0
\n\t\t\t\t\t5.5 \u00a0
\n\t\t\t\t\t2.6 \u00a0
\n\t\t\t\t\tMore than 1 year \u00a0
\n\t\t\t\t\t613 \u00a0
\n\t\t\t\t\t412 \u00a0
\n\t\t\t\t\t13.0 \u00a0
\n\t\t\t\t\t8.3 \u00a0
\n\t\t\t\t\t1.5 \u00a0
\n\t\t\t\t\t2.5 \u00a0
\n\t\t\t\t\tSell \u00a0
\n\t\t\t\t\tLess than 1 year \u00a0
\n\t\t\t\t\t634 \u00a0
\n\t\t\t\t\t578 \u00a0
\n\t\t\t\t\t-2.0 \u00a0
\n\t\t\t\t\t2.1 \u00a0
\n\t\t\t\t\t-0.6 \u00a0
\n\t\t\t\t\t-0.1 \u00a0
\n\t\t\t\t\tMore than 1 year \u00a0
\n\t\t\t\t\t847 \u00a0
\n\t\t\t\t\t573 \u00a0
\n\t\t\t\t\t-2.9 \u00a0
\n\t\t\t\t\t0.3 \u00a0
\n\t\t\t\t\t0.6 \u00a0
\n\t\t\t\t\tCash flow hedges reported as assets \u00a0
\n\t\t\t\t\t171.0 \u00a0
\n\t\t\t\t\t225.8 \u00a0
\n\t\t\t\t\tCash flow hedges reported as liabilities \u00a0
\n\t\t\t\t\t0.2 \u00a0
\n\t\t\t\t\t0.6 \u00a0
Foreign \u00a0
\n\t\t\t\t\texchange Interest
rate Commodity \u00a0
\n\t\t\t\t\tAmounts in EURm \u00a0
\n\t\t\t\t\trisk hedging
risk hedging
risk hedging \u00a0
\n\t\t\t\t\tTotal \u00a0
\n\t\t\t\t\tBalance at 1 January 2021 \u00a0
\n\t\t\t\t\t-0.4 \u00a0
\n\t\t\t\t\t-0.1 \u00a0
\n\t\t\t\t\t72.4 \u00a0
\n\t\t\t\t\t71.9 \u00a0
\n\t\t\t\t\tGain arising from changes in fair value of hedging instruments \u00a0
\n\t\t\t\t\t5.7 \u00a0
\n\t\t\t\t\t0.9 \u00a0
\n\t\t\t\t\t220.2 \u00a0
\n\t\t\t\t\t226.8 \u00a0
\n\t\t\t\t\tIncome tax related to gains recognized in other comprehensive income \u00a0
\n\t\t\t\t\t-1.3 \u00a0
\n\t\t\t\t\t-0.2 \u00a0
\n\t\t\t\t\t-55.7 \u00a0
\n\t\t\t\t\t-57.2 \u00a0
\n\t\t\t\t\tGain reclassified to profit or loss - hedged items have affected profit or loss \u00a0
\n\t\t\t\t\t-8.9 \u00a0
\n\t\t\t\t\t0.0 \u00a0
\n\t\t\t\t\t-68.3 \u00a0
\n\t\t\t\t\t-77.2 \u00a0
\n\t\t\t\t\tIncome tax related to amounts reclassified to profit or loss \u00a0
\n\t\t\t\t\t1.8 \u00a0
\n\t\t\t\t\t0.0 \u00a0
\n\t\t\t\t\t16.6 \u00a0
\n\t\t\t\t\t18.4 \u00a0
\n\t\t\t\t\tExchange rate adjustments \u00a0
\n\t\t\t\t\t-0.2 \u00a0
\n\t\t\t\t\t0.0 \u00a0
\n\t\t\t\t\t-0.5 \u00a0
\n\t\t\t\t\t-0.7 \u00a0
\n\t\t\t\t\tBalance at 31 December 2021 \u00a0
\n\t\t\t\t\t-3.3 \u00a0
\n\t\t\t\t\t0.6 \u00a0
\n\t\t\t\t\t184.7 \u00a0
\n\t\t\t\t\t182.0 \u00a0
\n\t\t\t\t\tGain/(loss) arising from changes in fair value of hedging instruments during the period \u00a0
\n\t\t\t\t\t0.9 \u00a0
\n\t\t\t\t\t6.7 \u00a0
\n\t\t\t\t\t72.9 \u00a0
\n\t\t\t\t\t80.5 \u00a0
\n\t\t\t\t\tIncome tax related to gains/(losses) recognized in other comprehensive income \u00a0
\n\t\t\t\t\tduring the period \u00a0
\n\t\t\t\t\t-0.2 \u00a0
\n\t\t\t\t\t-1.5 \u00a0
\n\t\t\t\t\t-10.2 \u00a0
\n\t\t\t\t\t-11.9 \u00a0
\n\t\t\t\t\t(Gain)/loss reclassified to profit or loss - hedged items have affected profit or loss \u00a0
\n\t\t\t\t\t3.0 \u00a0
\n\t\t\t\t\t0.0 \u00a0
\n\t\t\t\t\t-125.8 \u00a0
\n\t\t\t\t\t-122.8 \u00a0
\n\t\t\t\t\tIncome tax related to amounts reclassified to profit or loss \u00a0
\n\t\t\t\t\t-0.6 \u00a0
\n\t\t\t\t\t0.0 \u00a0
\n\t\t\t\t\t27.5 \u00a0
\n\t\t\t\t\t26.9 \u00a0
\n\t\t\t\t\tExchange rate adjustments \u00a0
\n\t\t\t\t\t-0.1 \u00a0
\n\t\t\t\t\t0.0 \u00a0
\n\t\t\t\t\t-9.0 \u00a0
\n\t\t\t\t\t-9.1 \u00a0
\n\t\t\t\t\tBalance at 31 December 2022 \u00a0
\n\t\t\t\t\t-0.3 \u00a0
\n\t\t\t\t\t5.8 \u00a0
\n\t\t\t\t\t140.1 \u00a0
\n\t\t\t\t\t145.6 \u00a0
Foreign \u00a0
\n\t\t\t\t\texchange Interest
rate Commodity \u00a0
\n\t\t\t\t\tAmounts in EURm \u00a0
\n\t\t\t\t\trisk hedging
risk hedging
risk hedging \u00a0
\n\t\t\t\t\tTotal \u00a0
\n\t\t\t\t\tBalance at 1 January 2021 \u00a0
\n\t\t\t\t\t0.0 \u00a0
\n\t\t\t\t\t0.0 \u00a0
\n\t\t\t\t\t0.0 \u00a0
\n\t\t\t\t\t0.0 \u00a0
\n\t\t\t\t\tLoss arising from changes in fair value of hedging instruments \u00a0
\n\t\t\t\t\t-1.4 \u00a0
\n\t\t\t\t\t0.0 \u00a0
\n\t\t\t\t\t-23.4 \u00a0
\n\t\t\t\t\t-24.8 \u00a0
\n\t\t\t\t\tIncome tax related to loss recognized in other comprehensive income \u00a0
\n\t\t\t\t\t0.4 \u00a0
\n\t\t\t\t\t0.0 \u00a0
\n\t\t\t\t\t5.8 \u00a0
\n\t\t\t\t\t6.2 \u00a0
\n\t\t\t\t\tLoss reclassified to profit or loss - hedged items have affected profit or loss \u00a0
\n\t\t\t\t\t0.0 \u00a0
\n\t\t\t\t\t0.0 \u00a0
\n\t\t\t\t\t3.3 \u00a0
\n\t\t\t\t\t3.3 \u00a0
\n\t\t\t\t\tIncome tax related to amounts reclassified to profit or loss \u00a0
\n\t\t\t\t\t0.0 \u00a0
\n\t\t\t\t\t0.0 \u00a0
\n\t\t\t\t\t-0.8 \u00a0
\n\t\t\t\t\t-0.8 \u00a0
\n\t\t\t\t\tExchange rate adjustments \u00a0
\n\t\t\t\t\t0.0 \u00a0
\n\t\t\t\t\t0.0 \u00a0
\n\t\t\t\t\t-0.1 \u00a0
\n\t\t\t\t\t-0.1 \u00a0
\n\t\t\t\t\tBalance at 31 December 2021 \u00a0
\n\t\t\t\t\t-1.0 \u00a0
\n\t\t\t\t\t0.0 \u00a0
\n\t\t\t\t\t-15.2 \u00a0
\n\t\t\t\t\t-16.2 \u00a0
\n\t\t\t\t\tGain/(loss) arising from changes in fair value of hedging instruments during the period \u00a0
\n\t\t\t\t\t1.3 \u00a0
\n\t\t\t\t\t0.0 \u00a0
\n\t\t\t\t\t0.4 \u00a0
\n\t\t\t\t\t1.7 \u00a0
\n\t\t\t\t\tIncome tax related to gains/(losses) recognized in other comprehensive income \u00a0
\n\t\t\t\t\tduring the period \u00a0
\n\t\t\t\t\t-0.3 \u00a0
\n\t\t\t\t\t0.0 \u00a0
\n\t\t\t\t\t-0.1 \u00a0
\n\t\t\t\t\t-0.4 \u00a0
\n\t\t\t\t\t(Gain)/loss reclassified to profit or loss - hedged items have affected profit or loss \u00a0
\n\t\t\t\t\t0.0 \u00a0
\n\t\t\t\t\t0.0 \u00a0
\n\t\t\t\t\t2.9 \u00a0
\n\t\t\t\t\t2.9 \u00a0
\n\t\t\t\t\tIncome tax related to amounts reclassified to profit or loss \u00a0
\n\t\t\t\t\t0.0 \u00a0
\n\t\t\t\t\t0.0 \u00a0
\n\t\t\t\t\t-0.7 \u00a0
\n\t\t\t\t\t-0.7 \u00a0
\n\t\t\t\t\tExchange rate adjustments \u00a0
\n\t\t\t\t\t0.0 \u00a0
\n\t\t\t\t\t0.0 \u00a0
\n\t\t\t\t\t0.0 \u00a0
\n\t\t\t\t\t0.0 \u00a0
\n\t\t\t\t\tBalance at 31 December 2022 \u00a0
\n\t\t\t\t\t0.0 \u00a0
\n\t\t\t\t\t0.0 \u00a0
\n\t\t\t\t\t-12.7 \u00a0
\n\t\t\t\t\t-12.7 \u00a0
\n\t\t\t\t\tOf the fair values recorded in other comprehensive income, EUR 0.6m is expected to be recorded in Revenue (EUR 3.6m in 2021) and EUR 132.3m \u00a0
\n\t\t\t\t\t(EUR 161.5m in 2021) is expected to be recorded in Cost of raw materials, consumables and goods for resale. \u00a0
Fair value changes of financial instruments used to hedge the change in \u00a0
\n\t\t\t\t\tfair value of an asset or liability is recorded in the income statement in the \u00a0
\n\t\t\t\t\tsame line item as the changes in value of the hedged asset or liability is \u00a0
\n\t\t\t\t\trecognized in. \u00a0
\n\t\t\t\t\tHedging of currency risk is not performed for net assets (equity) in \u00a0
\n\t\t\t\t\tforeign subsidiaries. Gains and losses relating to unhedged net assets \u00a0
\n\t\t\t\t\tin foreign subsidiaries are accounted for directly in other comprehensive \u00a0
\n\t\t\t\t\tincome. \u00a0
Measuring fair value \u00a0
\n\t\t\t\t\tFinancial instruments measured at fair value in the balance sheet are \u00a0
\n\t\t\t\t\tdesignated as belonging to one of the following three categories (the \u2018fair \u00a0
\n\t\t\t\t\tvalue hierarchy\u2019): \u00a0
\n\t\t\t\t\tLevel 1:
Listed prices (unadjusted) in active markets for identical assets \u00a0
\n\t\t\t\t\tand liabilities \u00a0
\n\t\t\t\t\tLevel 2:
Input, other than listed prices on Level 1, which is observable for \u00a0
\n\t\t\t\t\tthe asset or liability either directly (as prices) or indirectly (derived \u00a0
\n\t\t\t\t\tfrom prices) \u00a0
\n\t\t\t\t\tLevel 3:
Input for the asset or liability which is not based on observable \u00a0
\n\t\t\t\t\tmarket data (non-observable input) \u00a0
\n\t\t\t\t\tFinancial instruments measured at fair value consist of derivative financial \u00a0
\n\t\t\t\t\tinstruments. The fair value at 31 December 2022 and 2021 of NKT \u00a0
\n\t\t\t\t\tGroup\u2019s forward transactions are measured in accordance with Level 2 \u00a0
\n\t\t\t\t\tas the fair value is based on official exchange rates and forward rates at \u00a0
\n\t\t\t\t\tthe balance sheet date. \u00a0
\n\t\t\t\t\tNo financial instruments was moved from one level to another in the year \u00a0
\n\t\t\t\t\t(no move in 2021 either). \u00a0
",
"dimensions": {
"concept": "ifrs-full:DisclosureOfDerivativeFinancialInstrumentsExplanatory",
"language": "en",
"entity": "scheme:529900197LKWCEQ0NL18",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"fact2485": {
"value": "Fair value changes of financial instruments used to hedge the change in \u00a0
\n\t\t\t\t\tfair value of an asset or liability is recorded in the income statement in the \u00a0
\n\t\t\t\t\tsame line item as the changes in value of the hedged asset or liability is \u00a0
\n\t\t\t\t\trecognized in. \u00a0
\n\t\t\t\t\tHedging of currency risk is not performed for net assets (equity) in \u00a0
\n\t\t\t\t\tforeign subsidiaries. Gains and losses relating to unhedged net assets \u00a0
\n\t\t\t\t\tin foreign subsidiaries are accounted for directly in other comprehensive \u00a0
\n\t\t\t\t\tincome. \u00a0
",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForDerivativeFinancialInstrumentsExplanatory",
"language": "en",
"entity": "scheme:529900197LKWCEQ0NL18",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"fact2486": {
"value": "Measuring fair value \u00a0
\n\t\t\t\t\tFinancial instruments measured at fair value in the balance sheet are \u00a0
\n\t\t\t\t\tdesignated as belonging to one of the following three categories (the \u2018fair \u00a0
\n\t\t\t\t\tvalue hierarchy\u2019): \u00a0
\n\t\t\t\t\tLevel 1:
Listed prices (unadjusted) in active markets for identical assets \u00a0
\n\t\t\t\t\tand liabilities \u00a0
\n\t\t\t\t\tLevel 2:
Input, other than listed prices on Level 1, which is observable for \u00a0
\n\t\t\t\t\tthe asset or liability either directly (as prices) or indirectly (derived \u00a0
\n\t\t\t\t\tfrom prices) \u00a0
\n\t\t\t\t\tLevel 3:
Input for the asset or liability which is not based on observable \u00a0
\n\t\t\t\t\tmarket data (non-observable input) \u00a0
\n\t\t\t\t\tFinancial instruments measured at fair value consist of derivative financial \u00a0
\n\t\t\t\t\tinstruments. The fair value at 31 December 2022 and 2021 of NKT \u00a0
\n\t\t\t\t\tGroup\u2019s forward transactions are measured in accordance with Level 2 \u00a0
\n\t\t\t\t\tas the fair value is based on official exchange rates and forward rates at \u00a0
\n\t\t\t\t\tthe balance sheet date. \u00a0
\n\t\t\t\t\tNo financial instruments was moved from one level to another in the year \u00a0
\n\t\t\t\t\t(no move in 2021 either). \u00a0
",
"dimensions": {
"concept": "ifrs-full:DisclosureOfFairValueOfFinancialInstrumentsExplanatory",
"language": "en",
"entity": "scheme:529900197LKWCEQ0NL18",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"fact2487": {
"value": "Liquidity risks \u00a0
\n\t\t\t\t\tIt is NKT Group\u2019s policy to maintain adequate liquidity resources to im- \u00a0
\n\t\t\t\t\tplement planned operating activities and to be able to operate effectively \u00a0
\n\t\t\t\t\tin the event of unforeseen fluctuations in liquidity. NKT Group\u2019s liquidity \u00a0
\n\t\t\t\t\tresources consist of cash, cash equivalents and undrawn committed \u00a0
\n\t\t\t\t\tcredit facilities (RCF). \u00a0
\n\t\t\t\t\tThe current RCF of EUR 200m has in 2022 been extended with one \u00a0
\n\t\t\t\t\tyear, so it matures in November 2025. The mortgage loan portfolio \u00a0
\n\t\t\t\t\tmatures in 2032 and 2033. \u00a0
\n\t\t\t\t\tThe RCF is the only financing instrument subject to financial covenants. \u00a0
\n\t\t\t\t\tNKT Group\u2019s financing contains change of control clauses, which comes \u00a0
\n\t\t\t\t\tinto effect if a shareholder or shareholder group gains control over NKT \u00a0
\n\t\t\t\t\tA/S or if NKT A/S is no longer listed at Nasdaq Copenhagen. \u00a0
\n\t\t\t\t\tIt is Group Management\u2019s opinion, that the financial headroom is suffi- \u00a0
\n\t\t\t\t\tcient to manage the level of activity expected in 2023 for the NKT Group. \u00a0
Liquidity resources \u00a0
\n\t\t\t\t\tAmounts in EURm \u00a0
\n\t\t\t\t\t2022 \u00a0
\n\t\t\t\t\t2021 \u00a0
\n\t\t\t\t\tCommitted facilities (>3 years) \u00a0
\n\t\t\t\t\t0.0 \u00a0
\n\t\t\t\t\t0.0 \u00a0
\n\t\t\t\t\tCommitted facilities (1-3 years) \u00a0
\n\t\t\t\t\t200.0 \u00a0
\n\t\t\t\t\t200.0 \u00a0
\n\t\t\t\t\tCommitted facilities (<1 year) \u00a0
\n\t\t\t\t\t0.0 \u00a0
\n\t\t\t\t\t0.0 \u00a0
\n\t\t\t\t\tTotal commited facilities \u00a0
\n\t\t\t\t\t200.0 \u00a0
\n\t\t\t\t\t200.0 \u00a0
\n\t\t\t\t\tUncommitted facilities \u00a0
\n\t\t\t\t\t0.0 \u00a0
\n\t\t\t\t\t0.0 \u00a0
\n\t\t\t\t\tTotal facilities \u00a0
\n\t\t\t\t\t200.0 \u00a0
\n\t\t\t\t\t200.0 \u00a0
\n\t\t\t\t\tCash \u00a0
\n\t\t\t\t\t258.5 \u00a0
\n\t\t\t\t\t200.5 \u00a0
\n\t\t\t\t\tUtilized facilities \u00a0
\n\t\t\t\t\t-9.0 \u00a0
\n\t\t\t\t\t-5.4 \u00a0
\n\t\t\t\t\tCash classified as assets held for sale \u00a0
\n\t\t\t\t\t3.7 \u00a0
\n\t\t\t\t\t0.0 \u00a0
\n\t\t\t\t\tLiquidity recources \u00a0
\n\t\t\t\t\t453.2 \u00a0
\n\t\t\t\t\t395.1 \u00a0
",
"dimensions": {
"concept": "ifrs-full:DisclosureOfLiquidityRiskExplanatory",
"language": "en",
"entity": "scheme:529900197LKWCEQ0NL18",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"fact2489": {
"value": "6.1 Acquisition and divestment of businesses \u00a0
\n\t\t\t\t\tAmounts in EURm \u00a0
\n\t\t\t\t\t2022 \u00a0
\n\t\t\t\t\tAcquisitions \u00a0
\n\t\t\t\t\tNon-current assets \u00a0
\n\t\t\t\t\t20.9 \u00a0
\n\t\t\t\t\tCurrent assets \u00a0
\n\t\t\t\t\t6.7 \u00a0
\n\t\t\t\t\tNon-current liabilities \u00a0
\n\t\t\t\t\t-7.3 \u00a0
\n\t\t\t\t\tCurrent liabilities \u00a0
\n\t\t\t\t\t-3.3 \u00a0
\n\t\t\t\t\tAcquired net assets \u00a0
\n\t\t\t\t\t17.0 \u00a0
\n\t\t\t\t\tGain on business acquisition \u00a0
\n\t\t\t\t\t-1.2 \u00a0
\n\t\t\t\t\tPurchase price \u00a0
\n\t\t\t\t\t15.8 \u00a0
\n\t\t\t\t\tAcquired cash and cash equivalents \u00a0
\n\t\t\t\t\t-0.1 \u00a0
\n\t\t\t\t\tCash flow used for acquisition \u00a0
\n\t\t\t\t\t15.7 \u00a0
Acquisitions: \u00a0
\n\t\t\t\t\tOn 10 January 2022, NKT acquired 100% of the \u00a0
\n\t\t\t\t\tshares in Ventcroft Ltd, a UK based company. The \u00a0
\n\t\t\t\t\tconsiderations were transferred in full and there is no \u00a0
\n\t\t\t\t\tcontingent considerations. Ventcroft Ltd are special- \u00a0
\n\t\t\t\t\tized in fire-resistant building wires and low-voltage \u00a0
\n\t\t\t\t\tpower cables, and the acquisition was made in order \u00a0
\n\t\t\t\t\tto strengthen the product portfolio and is an important \u00a0
\n\t\t\t\t\tstep in the NKT strategy to grow the business. Vent- \u00a0
\n\t\t\t\t\tcroft Ltd will be a part of the Applications segment. \u00a0
The acquisition consists of net assets of EUR 17.0m \u00a0
\n\t\t\t\t\tpredominantly related to tangible assets and working \u00a0
\n\t\t\t\t\tcapital. No intangible assets have been recognized \u00a0
\n\t\t\t\t\tfrom the acquisition. As the purchase price is below \u00a0
\n\t\t\t\t\tthe net asset value, as well as below the equity value \u00a0
\n\t\t\t\t\tof the company at the time of acquisition, a gain \u00a0
\n\t\t\t\t\tof EUR 1.2m has been recognized in the Income \u00a0
\n\t\t\t\t\tStatement in the line Other Operating Income. \u00a0
\n\t\t\t\t\tAcquisition-related costs of EUR 0.2m are recognized \u00a0
\n\t\t\t\t\tin Other costs etc. in the income statement of the \u00a0
\n\t\t\t\t\tApplications segment. \u00a0
\n\t\t\t\t\tFrom the acquisition date to 31 December 2022, \u00a0
\n\t\t\t\t\tVentcroft Ltd contributed positively to the results with \u00a0
a revenue of EUR 22.2m and a profit of EUR 0.4m. \u00a0
\n\t\t\t\t\tHad the acquisition occurred on 1 January 2022, \u00a0
\n\t\t\t\t\tthe impact for the period until 31 December 2022 on \u00a0
\n\t\t\t\t\trevenue and profit would in all material aspects have \u00a0
\n\t\t\t\t\tbeen similar. \u00a0
\n\t\t\t\t\tThere were no acquisitions in 2021. \u00a0
Divestments: \u00a0
\n\t\t\t\t\tOn 10 March 2022 NKT Photonics divested its \u00a0
\n\t\t\t\t\tsensing business, LIOS. The proceeds from the \u00a0
\n\t\t\t\t\tsale were EUR 19.7m, and the gain was EUR 8.0m, \u00a0
\n\t\t\t\t\twhich is recognized in Other operating income in the \u00a0
\n\t\t\t\t\tincome statement. The business was a part of the \u00a0
\n\t\t\t\t\tNKT Photonics segment prior to the divestment, and \u00a0
\n\t\t\t\t\tthe gain is accordingly included in this segment, why \u00a0
\n\t\t\t\t\treference is made to note 6.3. \u00a0
On 15 January 2021, NKT divested the recycling \u00a0
\n\t\t\t\t\tbusiness in Stenlille, Denmark. The proceeds from \u00a0
\n\t\t\t\t\tthe sale was EUR 2.1m and the gain was EUR 1.8m. \u00a0
\n\t\t\t\t\tThe business was a part of the Applications segment \u00a0
\n\t\t\t\t\tprior to the divestment, and the gain is accordingly \u00a0
\n\t\t\t\t\tincluded in this segment. \u00a0
",
"dimensions": {
"concept": "ifrs-full:DisclosureOfSignificantInvestmentsInSubsidiariesExplanatory",
"language": "en",
"entity": "scheme:529900197LKWCEQ0NL18",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"fact2495": {
"value": "6.3 Discontinued operations and assets held for sale \u00a0
\n\t\t\t\t\tAmounts in EURm \u00a0
\n\t\t\t\t\t2022 \u00a0
\n\t\t\t\t\t2021 \u00a0
\n\t\t\t\t\tProfit for the year \u2013 discontinued operations \u00a0
\n\t\t\t\t\tRevenue \u00a0
\n\t\t\t\t\t86.5 \u00a0
\n\t\t\t\t\t80.1 \u00a0
\n\t\t\t\t\tCosts and other income, net \u00a0
\n\t\t\t\t\t-79.9 \u00a0
\n\t\t\t\t\t-72.6 \u00a0
\n\t\t\t\t\tGain from sale of business \u00a0
\n\t\t\t\t\t8.0 \u00a0
\n\t\t\t\t\t0.0 \u00a0
\n\t\t\t\t\tEarnings before interest, tax, depreciation and amortization (EBITDA) \u00a0
\n\t\t\t\t\t14.6 \u00a0
\n\t\t\t\t\t7.5 \u00a0
\n\t\t\t\t\tDepreciation and amortization \u00a0
\n\t\t\t\t\t-6.6 \u00a0
\n\t\t\t\t\t-14.6 \u00a0
\n\t\t\t\t\tEarnings before interest and tax (EBIT) \u00a0
\n\t\t\t\t\t8.0 \u00a0
\n\t\t\t\t\t-7.1 \u00a0
\n\t\t\t\t\tFinancial items, net \u00a0
\n\t\t\t\t\t0.1 \u00a0
\n\t\t\t\t\t-4.2 \u00a0
\n\t\t\t\t\tEarnings before tax (EBT) \u00a0
\n\t\t\t\t\t8.1 \u00a0
\n\t\t\t\t\t-11.3 \u00a0
\n\t\t\t\t\tTax \u00a0
\n\t\t\t\t\t-0.8 \u00a0
\n\t\t\t\t\t3.5 \u00a0
\n\t\t\t\t\tNet result - discontinued operations \u00a0
\n\t\t\t\t\t7.3 \u00a0
\n\t\t\t\t\t-7.8 \u00a0
\n\t\t\t\t\tNKT' share hereof \u00a0
\n\t\t\t\t\t7.3 \u00a0
\n\t\t\t\t\t-7.8 \u00a0
\n\t\t\t\t\tBasic earnings - discontinued operations, EUR, per share (EPS) \u00a0
\n\t\t\t\t\t0.2 \u00a0
\n\t\t\t\t\t-0.2 \u00a0
\n\t\t\t\t\tDiluted earnings - discuntinued operations, EUR, per share (EPS-D) \u00a0
\n\t\t\t\t\t0.2 \u00a0
\n\t\t\t\t\t-0.2 \u00a0
\n\t\t\t\t\tEarnings before interest, tax, depreciation and amortization (EBITDA) \u00a0
\n\t\t\t\t\t14.6 \u00a0
\n\t\t\t\t\t7.5 \u00a0
\n\t\t\t\t\tOne-off items \u00a0
\n\t\t\t\t\t5.8 \u00a0
\n\t\t\t\t\t0.0 \u00a0
\n\t\t\t\t\tOperational EBITDA \u00a0
\n\t\t\t\t\t8.8 \u00a0
\n\t\t\t\t\t7.5 \u00a0
\n\t\t\t\t\tOne-off items for discontinued operations in 2022 comprise costs associated \u00a0
\n\t\t\t\t\twith the divestment of EUR 2.2m and the accounting gain of EUR 8.0m related \u00a0
\n\t\t\t\t\tto the divestment of the LIOS sensing business recognized in Q1 2022. \u00a0
\n\t\t\t\t\tCash flows from discontinued operations \u00a0
\n\t\t\t\t\tCash flow from operating activities \u00a0
\n\t\t\t\t\t-22.1 \u00a0
\n\t\t\t\t\t-1.0 \u00a0
\n\t\t\t\t\tCash flow from investing activities \u00a0
\n\t\t\t\t\t2.5 \u00a0
\n\t\t\t\t\t-14.3 \u00a0
\n\t\t\t\t\tCash flow from financing activities \u00a0
\n\t\t\t\t\t21.5 \u00a0
\n\t\t\t\t\t15.6 \u00a0
\n\t\t\t\t\tNet cash flow from discontinued operations \u00a0
\n\t\t\t\t\t1.9 \u00a0
\n\t\t\t\t\t0.3 \u00a0
Amounts in EURm \u00a0
\n\t\t\t\t\t2022 \u00a0
\n\t\t\t\t\t2021 \u00a0
\n\t\t\t\t\tBalance sheet items \u00a0
\n\t\t\t\t\tNon-current assets \u00a0
\n\t\t\t\t\t100.7 \u00a0
\n\t\t\t\t\t0.0 \u00a0
\n\t\t\t\t\tCurrent assets \u00a0
\n\t\t\t\t\t63.3 \u00a0
\n\t\t\t\t\t0.0 \u00a0
\n\t\t\t\t\tAssets held for sale \u00a0
\n\t\t\t\t\t164.1 \u00a0
\n\t\t\t\t\t0.0 \u00a0
\n\t\t\t\t\tNon-current liabilities \u00a0
\n\t\t\t\t\t13.3 \u00a0
\n\t\t\t\t\t0.0 \u00a0
\n\t\t\t\t\tCurrent liabilities \u00a0
\n\t\t\t\t\t22.4 \u00a0
\n\t\t\t\t\t0.0 \u00a0
\n\t\t\t\t\tLiabilities associated with assets held for sale \u00a0
\n\t\t\t\t\t35.6 \u00a0
\n\t\t\t\t\t0.0 \u00a0
\n\t\t\t\t\tIntangible assets held for sale related to NKT Photonics amount to EUR 69.7m and property, plant and equip- \u00a0
\n\t\t\t\t\tment amount to EUR 30.7m. In connection with the classification to discontinued operations and assets held \u00a0
\n\t\t\t\t\tfor sale no impairment was recognized. \u00a0
Accounting policy \u00a0
\n\t\t\t\t\tDiscontinued operations represent a separate major line of businesses intended to be disposed within 12 \u00a0
\n\t\t\t\t\tmonths. The results of discontinued operations are presented separately in the income statement and the cash \u00a0
\n\t\t\t\t\tflow statement with restatement of comparative figures. \u00a0
\n\t\t\t\t\tAssets and liabilities held for sale from discontinued operations are presented as separate items in the balance \u00a0
\n\t\t\t\t\tsheet with no restatement of comparative figures. Elimination between continuing and discontinued operations \u00a0
\n\t\t\t\t\tis presented to reflect continuing operations as post-separation, which includes elimination of interest and \u00a0
\n\t\t\t\t\tloans. \u00a0
\n\t\t\t\t\tAssets and liabilities from discontinued operations and assets held for sale are measured at the lower of carry- \u00a0
\n\t\t\t\t\ting amount and fair value less cost of disposal. Impairment test is performed immediately before classification \u00a0
\n\t\t\t\t\tas held for sale. Non-current assets held for sale are not depreciated or amortized. \u00a0
",
"dimensions": {
"concept": "ifrs-full:DisclosureOfNoncurrentAssetsHeldForSaleAndDiscontinuedOperationsExplanatory",
"language": "en",
"entity": "scheme:529900197LKWCEQ0NL18",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"fact2498": {
"value": "6.3 Discontinued operations and assets held for sale \u00a0
\n\t\t\t\t\tAmounts in EURm \u00a0
\n\t\t\t\t\t2022 \u00a0
\n\t\t\t\t\t2021 \u00a0
\n\t\t\t\t\tProfit for the year \u2013 discontinued operations \u00a0
\n\t\t\t\t\tRevenue \u00a0
\n\t\t\t\t\t86.5 \u00a0
\n\t\t\t\t\t80.1 \u00a0
\n\t\t\t\t\tCosts and other income, net \u00a0
\n\t\t\t\t\t-79.9 \u00a0
\n\t\t\t\t\t-72.6 \u00a0
\n\t\t\t\t\tGain from sale of business \u00a0
\n\t\t\t\t\t8.0 \u00a0
\n\t\t\t\t\t0.0 \u00a0
\n\t\t\t\t\tEarnings before interest, tax, depreciation and amortization (EBITDA) \u00a0
\n\t\t\t\t\t14.6 \u00a0
\n\t\t\t\t\t7.5 \u00a0
\n\t\t\t\t\tDepreciation and amortization \u00a0
\n\t\t\t\t\t-6.6 \u00a0
\n\t\t\t\t\t-14.6 \u00a0
\n\t\t\t\t\tEarnings before interest and tax (EBIT) \u00a0
\n\t\t\t\t\t8.0 \u00a0
\n\t\t\t\t\t-7.1 \u00a0
\n\t\t\t\t\tFinancial items, net \u00a0
\n\t\t\t\t\t0.1 \u00a0
\n\t\t\t\t\t-4.2 \u00a0
\n\t\t\t\t\tEarnings before tax (EBT) \u00a0
\n\t\t\t\t\t8.1 \u00a0
\n\t\t\t\t\t-11.3 \u00a0
\n\t\t\t\t\tTax \u00a0
\n\t\t\t\t\t-0.8 \u00a0
\n\t\t\t\t\t3.5 \u00a0
\n\t\t\t\t\tNet result - discontinued operations \u00a0
\n\t\t\t\t\t7.3 \u00a0
\n\t\t\t\t\t-7.8 \u00a0
\n\t\t\t\t\tNKT' share hereof \u00a0
\n\t\t\t\t\t7.3 \u00a0
\n\t\t\t\t\t-7.8 \u00a0
\n\t\t\t\t\tBasic earnings - discontinued operations, EUR, per share (EPS) \u00a0
\n\t\t\t\t\t0.2 \u00a0
\n\t\t\t\t\t-0.2 \u00a0
\n\t\t\t\t\tDiluted earnings - discuntinued operations, EUR, per share (EPS-D) \u00a0
\n\t\t\t\t\t0.2 \u00a0
\n\t\t\t\t\t-0.2 \u00a0
\n\t\t\t\t\tEarnings before interest, tax, depreciation and amortization (EBITDA) \u00a0
\n\t\t\t\t\t14.6 \u00a0
\n\t\t\t\t\t7.5 \u00a0
\n\t\t\t\t\tOne-off items \u00a0
\n\t\t\t\t\t5.8 \u00a0
\n\t\t\t\t\t0.0 \u00a0
\n\t\t\t\t\tOperational EBITDA \u00a0
\n\t\t\t\t\t8.8 \u00a0
\n\t\t\t\t\t7.5 \u00a0
\n\t\t\t\t\tOne-off items for discontinued operations in 2022 comprise costs associated \u00a0
\n\t\t\t\t\twith the divestment of EUR 2.2m and the accounting gain of EUR 8.0m related \u00a0
\n\t\t\t\t\tto the divestment of the LIOS sensing business recognized in Q1 2022. \u00a0
\n\t\t\t\t\tCash flows from discontinued operations \u00a0
\n\t\t\t\t\tCash flow from operating activities \u00a0
\n\t\t\t\t\t-22.1 \u00a0
\n\t\t\t\t\t-1.0 \u00a0
\n\t\t\t\t\tCash flow from investing activities \u00a0
\n\t\t\t\t\t2.5 \u00a0
\n\t\t\t\t\t-14.3 \u00a0
\n\t\t\t\t\tCash flow from financing activities \u00a0
\n\t\t\t\t\t21.5 \u00a0
\n\t\t\t\t\t15.6 \u00a0
\n\t\t\t\t\tNet cash flow from discontinued operations \u00a0
\n\t\t\t\t\t1.9 \u00a0
\n\t\t\t\t\t0.3 \u00a0
Amounts in EURm \u00a0
\n\t\t\t\t\t2022 \u00a0
\n\t\t\t\t\t2021 \u00a0
\n\t\t\t\t\tBalance sheet items \u00a0
\n\t\t\t\t\tNon-current assets \u00a0
\n\t\t\t\t\t100.7 \u00a0
\n\t\t\t\t\t0.0 \u00a0
\n\t\t\t\t\tCurrent assets \u00a0
\n\t\t\t\t\t63.3 \u00a0
\n\t\t\t\t\t0.0 \u00a0
\n\t\t\t\t\tAssets held for sale \u00a0
\n\t\t\t\t\t164.1 \u00a0
\n\t\t\t\t\t0.0 \u00a0
\n\t\t\t\t\tNon-current liabilities \u00a0
\n\t\t\t\t\t13.3 \u00a0
\n\t\t\t\t\t0.0 \u00a0
\n\t\t\t\t\tCurrent liabilities \u00a0
\n\t\t\t\t\t22.4 \u00a0
\n\t\t\t\t\t0.0 \u00a0
\n\t\t\t\t\tLiabilities associated with assets held for sale \u00a0
\n\t\t\t\t\t35.6 \u00a0
\n\t\t\t\t\t0.0 \u00a0
\n\t\t\t\t\tIntangible assets held for sale related to NKT Photonics amount to EUR 69.7m and property, plant and equip- \u00a0
\n\t\t\t\t\tment amount to EUR 30.7m. In connection with the classification to discontinued operations and assets held \u00a0
\n\t\t\t\t\tfor sale no impairment was recognized. \u00a0
Accounting policy \u00a0
\n\t\t\t\t\tDiscontinued operations represent a separate major line of businesses intended to be disposed within 12 \u00a0
\n\t\t\t\t\tmonths. The results of discontinued operations are presented separately in the income statement and the cash \u00a0
\n\t\t\t\t\tflow statement with restatement of comparative figures. \u00a0
\n\t\t\t\t\tAssets and liabilities held for sale from discontinued operations are presented as separate items in the balance \u00a0
\n\t\t\t\t\tsheet with no restatement of comparative figures. Elimination between continuing and discontinued operations \u00a0
\n\t\t\t\t\tis presented to reflect continuing operations as post-separation, which includes elimination of interest and \u00a0
\n\t\t\t\t\tloans. \u00a0
\n\t\t\t\t\tAssets and liabilities from discontinued operations and assets held for sale are measured at the lower of carry- \u00a0
\n\t\t\t\t\ting amount and fair value less cost of disposal. Impairment test is performed immediately before classification \u00a0
\n\t\t\t\t\tas held for sale. Non-current assets held for sale are not depreciated or amortized. \u00a0
",
"dimensions": {
"concept": "ifrs-full:DisclosureOfDiscontinuedOperationsExplanatory",
"language": "en",
"entity": "scheme:529900197LKWCEQ0NL18",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"fact2501": {
"value": "Accounting policy \u00a0
\n\t\t\t\t\tDiscontinued operations represent a separate major line of businesses intended to be disposed within 12 \u00a0
\n\t\t\t\t\tmonths. The results of discontinued operations are presented separately in the income statement and the cash \u00a0
\n\t\t\t\t\tflow statement with restatement of comparative figures. \u00a0
\n\t\t\t\t\tAssets and liabilities held for sale from discontinued operations are presented as separate items in the balance \u00a0
\n\t\t\t\t\tsheet with no restatement of comparative figures. Elimination between continuing and discontinued operations \u00a0
\n\t\t\t\t\tis presented to reflect continuing operations as post-separation, which includes elimination of interest and \u00a0
\n\t\t\t\t\tloans. \u00a0
\n\t\t\t\t\tAssets and liabilities from discontinued operations and assets held for sale are measured at the lower of carry- \u00a0
\n\t\t\t\t\ting amount and fair value less cost of disposal. Impairment test is performed immediately before classification \u00a0
\n\t\t\t\t\tas held for sale. Non-current assets held for sale are not depreciated or amortized. \u00a0
",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForNoncurrentAssetsOrDisposalGroupsClassifiedAsHeldForSaleAndDiscontinuedOperationsExplanatory",
"language": "en",
"entity": "scheme:529900197LKWCEQ0NL18",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"fact2502": {
"value": "Accounting policy \u00a0
\n\t\t\t\t\tDiscontinued operations represent a separate major line of businesses intended to be disposed within 12 \u00a0
\n\t\t\t\t\tmonths. The results of discontinued operations are presented separately in the income statement and the cash \u00a0
\n\t\t\t\t\tflow statement with restatement of comparative figures. \u00a0
\n\t\t\t\t\tAssets and liabilities held for sale from discontinued operations are presented as separate items in the balance \u00a0
\n\t\t\t\t\tsheet with no restatement of comparative figures. Elimination between continuing and discontinued operations \u00a0
\n\t\t\t\t\tis presented to reflect continuing operations as post-separation, which includes elimination of interest and \u00a0
\n\t\t\t\t\tloans. \u00a0
\n\t\t\t\t\tAssets and liabilities from discontinued operations and assets held for sale are measured at the lower of carry- \u00a0
\n\t\t\t\t\ting amount and fair value less cost of disposal. Impairment test is performed immediately before classification \u00a0
\n\t\t\t\t\tas held for sale. Non-current assets held for sale are not depreciated or amortized. \u00a0
",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForDiscontinuedOperationsExplanatory",
"language": "en",
"entity": "scheme:529900197LKWCEQ0NL18",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"fact2503": {
"value": "7.1 Fees to the auditor elected at \u00a0
\n\t\t\t\t\tthe Annual General Meeting \u00a0
\n\t\t\t\t\tAmounts in EURm \u00a0
\n\t\t\t\t\t2022 \u00a0
\n\t\t\t\t\t2021 \u00a0
\n\t\t\t\t\tDeloitte: \u00a0
\n\t\t\t\t\tStatutory audit \u00a0
\n\t\t\t\t\t1.2 \u00a0
\n\t\t\t\t\t1.0 \u00a0
\n\t\t\t\t\tOther assurance \u00a0
\n\t\t\t\t\t0.0 \u00a0
\n\t\t\t\t\t0.1 \u00a0
\n\t\t\t\t\tOther service \u00a0
\n\t\t\t\t\t0.0 \u00a0
\n\t\t\t\t\t0.0 \u00a0
\n\t\t\t\t\tTotal \u00a0
\n\t\t\t\t\t1.2 \u00a0
\n\t\t\t\t\t1.1 \u00a0
\n\t\t\t\t\tIn 2022, audit fee for other services of EUR 0.1m related to issue of the \u00a0
\n\t\t\t\t\tnew hybrid capital has been reported directly to retained earnings on the \u00a0
\n\t\t\t\t\tequity. This amount is not included in the table above. \u00a0
",
"dimensions": {
"concept": "ifrs-full:DisclosureOfAuditorsRemunerationExplanatory",
"language": "en",
"entity": "scheme:529900197LKWCEQ0NL18",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"fact2505": {
"value": "7.3 Contingent assets and liabilities and pledges \u00a0
\n\t\t\t\t\tThe NKT Group is a party to various disputes and inquiries from authori- \u00a0
\n\t\t\t\t\tties whose outcome is not expected to materially affect profit for the year \u00a0
\n\t\t\t\t\tand the financial position. In connection with disposal of companies in \u00a0
\n\t\t\t\t\tprevious years, guarantees have been provided which are not expected \u00a0
\n\t\t\t\t\tto materially affect net result. Further, NKT is a party to various insurance \u00a0
\n\t\t\t\t\tclaims as well as customer claims whose outcome is still uncertain and \u00a0
\n\t\t\t\t\tnot recognized in the financial statement at the balance sheet day. \u00a0
\n\t\t\t\t\tNKT Group is jointly liable for Danish corporate taxes on dividend, inter- \u00a0
\n\t\t\t\t\test and royalties together with Nilfisk up until the demerger in October \u00a0
\n\t\t\t\t\t2017. In a few cases the NKT Group\u2019s foreign companies are subject to \u00a0
\n\t\t\t\t\tspecial tax schemes to which certain conditions are attached. As at 31 \u00a0
\n\t\t\t\t\tDecember 2022 these conditions were complied with. \u00a0
\n\t\t\t\t\tGuarantees \u00a0
\n\t\t\t\t\tAs part of our commercial activities NKT has provided guarantees mainly \u00a0
\n\t\t\t\t\trelating to high-voltage projects, which is to cover for the risk relating to \u00a0
\n\t\t\t\t\tour performance inherent in such projects, the quality and delays. \u00a0
\n\t\t\t\t\tAt 31 December 2022 the value of issued guarantees was EUR \u00a0
\n\t\t\t\t\t1,231.2m (EUR 1,014.6m in 2021). At the balance sheet date none \u00a0
\n\t\t\t\t\tof the issued guarantees are expected to materialize. \u00a0
Pledges \u00a0
\n\t\t\t\t\tNon-current assets with carrying amount of EUR 388.0m (EUR 368.8m \u00a0
\n\t\t\t\t\tin 2021) have been pledged as security for mortgage loans of total EUR \u00a0
\n\t\t\t\t\t146.0m (EUR 152.1m in 2021). \u00a0
\n\t\t\t\t\tAmounts in EUR \u00a0
\n\t\t\t\t\t2022 \u00a0
\n\t\t\t\t\t2021 \u00a0
\n\t\t\t\t\tCarrying amount of assets pledged \u00a0
\n\t\t\t\t\tas collateral for credit institutions: \u00a0
\n\t\t\t\t\tLand and buildings \u00a0
\n\t\t\t\t\t197.0 \u00a0
\n\t\t\t\t\t207.0 \u00a0
\n\t\t\t\t\tPlant and machinery \u00a0
\n\t\t\t\t\t50.9 \u00a0
\n\t\t\t\t\t47.7 \u00a0
\n\t\t\t\t\tProperty, plant and equipment under \u00a0
\n\t\t\t\t\tconstruction \u00a0
\n\t\t\t\t\t140.1 \u00a0
\n\t\t\t\t\t114.1 \u00a0
\n\t\t\t\t\tTotal \u00a0
\n\t\t\t\t\t388.0 \u00a0
\n\t\t\t\t\t368.8 \u00a0
\n\t\t\t\t\tLiabilities related to pledged assets \u00a0
\n\t\t\t\t\t146.0 \u00a0
\n\t\t\t\t\t152.1 \u00a0
Significant judgments \u00a0
\n\t\t\t\t\tDisclosures for contingent assets and liabilities and when they must \u00a0
\n\t\t\t\t\tbe recognized is derived from evaluations of the expected outcome of \u00a0
\n\t\t\t\t\tthe individual issues. These evaluations are based on legal opinions of \u00a0
\n\t\t\t\t\tthe agreements contracted, which in significant instances also include \u00a0
\n\t\t\t\t\topinions obtained from external advisors, including lawyers. \u00a0
",
"dimensions": {
"concept": "ifrs-full:DisclosureOfContingentLiabilitiesExplanatory",
"language": "en",
"entity": "scheme:529900197LKWCEQ0NL18",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"fact2504": {
"value": "7.2 Events after the balance sheet date \u00a0
\n\t\t\t\t\tManagement is not aware of any subsequent matters that could be of \u00a0
\n\t\t\t\t\tmaterial importance to NKT Group\u2019s financial position. \u00a0
",
"dimensions": {
"concept": "ifrs-full:DisclosureOfEventsAfterReportingPeriodExplanatory",
"language": "en",
"entity": "scheme:529900197LKWCEQ0NL18",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"fact1092": {
"value": "NKT A/S",
"dimensions": {
"concept": "ifrs-full:NameOfParentEntity",
"language": "en",
"entity": "scheme:529900197LKWCEQ0NL18",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"fact1093": {
"value": "NKT A/S",
"dimensions": {
"concept": "ifrs-full:NameOfReportingEntityOrOtherMeansOfIdentification",
"language": "en",
"entity": "scheme:529900197LKWCEQ0NL18",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"fact1094": {
"value": "Vibeholms All\u00e9 20 DK-2605 Br\u00f8ndby",
"dimensions": {
"concept": "ifrs-full:AddressOfRegisteredOfficeOfEntity",
"language": "en",
"entity": "scheme:529900197LKWCEQ0NL18",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"fact1096": {
"value": "DK-2605 Br\u00f8ndby",
"dimensions": {
"concept": "ifrs-full:DomicileOfEntity",
"language": "en",
"entity": "scheme:529900197LKWCEQ0NL18",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"fact1097": {
"value": "Denmark",
"dimensions": {
"concept": "ifrs-full:CountryOfIncorporation",
"language": "en",
"entity": "scheme:529900197LKWCEQ0NL18",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
}
}
}