{
"documentInfo": {
"documentType": "https://xbrl.org/2021/xbrl-json",
"features": {
"xbrl:canonicalValues": true
},
"namespaces": {
"ifrs-full": "https://xbrl.ifrs.org/taxonomy/2022-03-24/ifrs-full",
"iso4217": "http://www.xbrl.org/2003/iso4217",
"nkt": "http://nkt.com",
"scheme": "http://standards.iso.org/iso/17442",
"xbrl": "https://xbrl.org/2021",
"xbrli": "http://www.xbrl.org/2003/instance"
},
"taxonomy": [
"http://nkt.com/nkt-2023-12-31.xsd"
]
},
"facts": {
"fact1955": {
"value": "As a pure-play power cable company, NKT serves the market \u00a0with solutions to bring power from electricity generation to \u00a0consumption",
"dimensions": {
"concept": "ifrs-full:DescriptionOfNatureOfEntitysOperationsAndPrincipalActivities",
"language": "en",
"entity": "scheme:529900197LKWCEQ0NL18",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"fact1511": {
"value": "124300000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:ProfitLoss",
"entity": "scheme:529900197LKWCEQ0NL18",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"fact1605": {
"value": "62400000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:ProfitLoss",
"entity": "scheme:529900197LKWCEQ0NL18",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"fact1489": {
"value": "2567200000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:Revenue",
"entity": "scheme:529900197LKWCEQ0NL18",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"fact1490": {
"value": "3900000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:OtherIncome",
"entity": "scheme:529900197LKWCEQ0NL18",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"fact1583": {
"value": "2079000000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:Revenue",
"entity": "scheme:529900197LKWCEQ0NL18",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"fact1584": {
"value": "14200000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:OtherIncome",
"entity": "scheme:529900197LKWCEQ0NL18",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"fact1491": {
"value": "31400000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:OtherWorkPerformedByEntityAndCapitalised",
"entity": "scheme:529900197LKWCEQ0NL18",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"fact1585": {
"value": "33100000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:OtherWorkPerformedByEntityAndCapitalised",
"entity": "scheme:529900197LKWCEQ0NL18",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"fact1492": {
"value": "1746700000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:RawMaterialsAndConsumablesUsed",
"entity": "scheme:529900197LKWCEQ0NL18",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"fact1493": {
"value": "339300000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:EmployeeBenefitsExpense",
"entity": "scheme:529900197LKWCEQ0NL18",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"fact1494": {
"value": "261900000",
"decimals": -5,
"dimensions": {
"concept": "nkt:OtherExternalExpenses",
"entity": "scheme:529900197LKWCEQ0NL18",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"fact1495": {
"value": "254600000",
"decimals": -5,
"dimensions": {
"concept": "nkt:EarningsBeforeInterestTaxDepreciationAndAmortizationEbitda",
"entity": "scheme:529900197LKWCEQ0NL18",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"fact1586": {
"value": "1442600000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:RawMaterialsAndConsumablesUsed",
"entity": "scheme:529900197LKWCEQ0NL18",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"fact1587": {
"value": "302500000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:EmployeeBenefitsExpense",
"entity": "scheme:529900197LKWCEQ0NL18",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"fact1588": {
"value": "226600000",
"decimals": -5,
"dimensions": {
"concept": "nkt:OtherExternalExpenses",
"entity": "scheme:529900197LKWCEQ0NL18",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"fact1589": {
"value": "154600000",
"decimals": -5,
"dimensions": {
"concept": "nkt:EarningsBeforeInterestTaxDepreciationAndAmortizationEbitda",
"entity": "scheme:529900197LKWCEQ0NL18",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"fact1520": {
"value": "7200000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:GainsLossesOnExchangeDifferencesOnTranslationBeforeTax",
"entity": "scheme:529900197LKWCEQ0NL18",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"fact1614": {
"value": "-44800000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:GainsLossesOnExchangeDifferencesOnTranslationBeforeTax",
"entity": "scheme:529900197LKWCEQ0NL18",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"fact1522": {
"value": "50600000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:GainsLossesOnCashFlowHedgesBeforeTax",
"entity": "scheme:529900197LKWCEQ0NL18",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"fact1523": {
"value": "14000000",
"decimals": -6,
"dimensions": {
"concept": "nkt:ReclassificationAdjustmentsOnCashFlowHedgesTransferredToRevenueBeforeTax",
"entity": "scheme:529900197LKWCEQ0NL18",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"fact1524": {
"value": "-400000",
"decimals": -5,
"dimensions": {
"concept": "nkt:ReclassificationAdjustmentsOnCashFlowHedgesTransferredToFinancialIncomeBeforeTax",
"entity": "scheme:529900197LKWCEQ0NL18",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"fact1526": {
"value": "5000000",
"decimals": -6,
"dimensions": {
"concept": "ifrs-full:IncomeTaxRelatingToCashFlowHedgesOfOtherComprehensiveIncome",
"entity": "scheme:529900197LKWCEQ0NL18",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"fact1616": {
"value": "71400000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:GainsLossesOnCashFlowHedgesBeforeTax",
"entity": "scheme:529900197LKWCEQ0NL18",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"fact1617": {
"value": "-14200000",
"decimals": -5,
"dimensions": {
"concept": "nkt:ReclassificationAdjustmentsOnCashFlowHedgesTransferredToRevenueBeforeTax",
"entity": "scheme:529900197LKWCEQ0NL18",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"fact1618": {
"value": "-2100000",
"decimals": -5,
"dimensions": {
"concept": "nkt:ReclassificationAdjustmentsOnCashFlowHedgesTransferredToFinancialIncomeBeforeTax",
"entity": "scheme:529900197LKWCEQ0NL18",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"fact1497": {
"value": "71100000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:DepreciationExpense",
"entity": "scheme:529900197LKWCEQ0NL18",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"fact1498": {
"value": "100000",
"decimals": -5,
"dimensions": {
"concept": "nkt:ImpairmentLossRecognisedInProfiltOrLossPropertyPlantAndEquipment",
"entity": "scheme:529900197LKWCEQ0NL18",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"fact1499": {
"value": "18400000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:AmortisationExpense",
"entity": "scheme:529900197LKWCEQ0NL18",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"fact1500": {
"value": "400000",
"decimals": -5,
"dimensions": {
"concept": "nkt:ImpairmentLossRecognisedInProfitOrLossIntangibleAssets",
"entity": "scheme:529900197LKWCEQ0NL18",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"fact1591": {
"value": "62700000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:DepreciationExpense",
"entity": "scheme:529900197LKWCEQ0NL18",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"fact1592": {
"value": "0",
"decimals": -6,
"dimensions": {
"concept": "nkt:ImpairmentLossRecognisedInProfiltOrLossPropertyPlantAndEquipment",
"entity": "scheme:529900197LKWCEQ0NL18",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"fact1593": {
"value": "22700000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:AmortisationExpense",
"entity": "scheme:529900197LKWCEQ0NL18",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"fact1594": {
"value": "0",
"decimals": -6,
"dimensions": {
"concept": "nkt:ImpairmentLossRecognisedInProfitOrLossIntangibleAssets",
"entity": "scheme:529900197LKWCEQ0NL18",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"fact1620": {
"value": "16100000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:IncomeTaxRelatingToCashFlowHedgesOfOtherComprehensiveIncome",
"entity": "scheme:529900197LKWCEQ0NL18",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"fact1501": {
"value": "-200000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:ShareOfProfitLossOfAssociatesAccountedForUsingEquityMethod",
"entity": "scheme:529900197LKWCEQ0NL18",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"fact1502": {
"value": "164400000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:ProfitLossFromOperatingActivities",
"entity": "scheme:529900197LKWCEQ0NL18",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"fact1595": {
"value": "0",
"decimals": -6,
"dimensions": {
"concept": "ifrs-full:ShareOfProfitLossOfAssociatesAccountedForUsingEquityMethod",
"entity": "scheme:529900197LKWCEQ0NL18",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"fact1596": {
"value": "69200000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:ProfitLossFromOperatingActivities",
"entity": "scheme:529900197LKWCEQ0NL18",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"fact1527": {
"value": "24800000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:GainsLossesOnChangeInValueOfForwardElementsOfForwardContractsBeforeTax",
"entity": "scheme:529900197LKWCEQ0NL18",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"fact1621": {
"value": "1700000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:GainsLossesOnChangeInValueOfForwardElementsOfForwardContractsBeforeTax",
"entity": "scheme:529900197LKWCEQ0NL18",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"fact1528": {
"value": "-3300000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:ReclassificationAdjustmentsOnChangeInValueOfForwardElementsOfForwardContractsBeforeTax",
"entity": "scheme:529900197LKWCEQ0NL18",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"fact1622": {
"value": "0",
"decimals": -6,
"dimensions": {
"concept": "ifrs-full:ReclassificationAdjustmentsOnChangeInValueOfForwardElementsOfForwardContractsBeforeTax",
"entity": "scheme:529900197LKWCEQ0NL18",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"fact1503": {
"value": "109500000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:FinanceIncome",
"entity": "scheme:529900197LKWCEQ0NL18",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"fact1504": {
"value": "125100000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:FinanceCosts",
"entity": "scheme:529900197LKWCEQ0NL18",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"fact1505": {
"value": "148800000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:ProfitLossBeforeTax",
"entity": "scheme:529900197LKWCEQ0NL18",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"fact1597": {
"value": "72300000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:FinanceIncome",
"entity": "scheme:529900197LKWCEQ0NL18",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"fact1598": {
"value": "63200000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:FinanceCosts",
"entity": "scheme:529900197LKWCEQ0NL18",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"fact1599": {
"value": "78300000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:ProfitLossBeforeTax",
"entity": "scheme:529900197LKWCEQ0NL18",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"fact1529": {
"value": "9500000",
"decimals": -5,
"dimensions": {
"concept": "nkt:IncomeTaxRelatingToCostHedgingIncludedInOtherComprehensiveIncome",
"entity": "scheme:529900197LKWCEQ0NL18",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"fact1623": {
"value": "400000",
"decimals": -5,
"dimensions": {
"concept": "nkt:IncomeTaxRelatingToCostHedgingIncludedInOtherComprehensiveIncome",
"entity": "scheme:529900197LKWCEQ0NL18",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"fact1530": {
"value": "1400000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:OtherComprehensiveIncomeBeforeTaxGainsLossesOnRemeasurementsOfDefinedBenefitPlans",
"entity": "scheme:529900197LKWCEQ0NL18",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"fact1532": {
"value": "500000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:IncomeTaxRelatingToRemeasurementsOfDefinedBenefitPlansOfOtherComprehensiveIncome",
"entity": "scheme:529900197LKWCEQ0NL18",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"fact1624": {
"value": "11700000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:OtherComprehensiveIncomeBeforeTaxGainsLossesOnRemeasurementsOfDefinedBenefitPlans",
"entity": "scheme:529900197LKWCEQ0NL18",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"fact1626": {
"value": "3700000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:IncomeTaxRelatingToRemeasurementsOfDefinedBenefitPlansOfOtherComprehensiveIncome",
"entity": "scheme:529900197LKWCEQ0NL18",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"fact1506": {
"value": "30100000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:IncomeTaxExpenseContinuingOperations",
"entity": "scheme:529900197LKWCEQ0NL18",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"fact1507": {
"value": "118700000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:ProfitLossFromContinuingOperations",
"entity": "scheme:529900197LKWCEQ0NL18",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"fact1508": {
"value": "5600000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:ProfitLossFromDiscontinuedOperations",
"entity": "scheme:529900197LKWCEQ0NL18",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"fact1600": {
"value": "23200000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:IncomeTaxExpenseContinuingOperations",
"entity": "scheme:529900197LKWCEQ0NL18",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"fact1601": {
"value": "55100000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:ProfitLossFromContinuingOperations",
"entity": "scheme:529900197LKWCEQ0NL18",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"fact1602": {
"value": "7300000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:ProfitLossFromDiscontinuedOperations",
"entity": "scheme:529900197LKWCEQ0NL18",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"fact1509": {
"value": "124300000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:ProfitLoss",
"entity": "scheme:529900197LKWCEQ0NL18",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"fact1603": {
"value": "62400000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:ProfitLoss",
"entity": "scheme:529900197LKWCEQ0NL18",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"fact1533": {
"value": "210200000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:ComprehensiveIncome",
"entity": "scheme:529900197LKWCEQ0NL18",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"fact1627": {
"value": "65900000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:ComprehensiveIncome",
"entity": "scheme:529900197LKWCEQ0NL18",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"fact1513": {
"value": "113400000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:ProfitLossAttributableToOwnersOfParent",
"entity": "scheme:529900197LKWCEQ0NL18",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"fact1514": {
"value": "10900000",
"decimals": -5,
"dimensions": {
"concept": "nkt:ProfitLossAttributableToHybridCapitalHolders",
"entity": "scheme:529900197LKWCEQ0NL18",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"fact1510": {
"value": "124300000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:ProfitLoss",
"entity": "scheme:529900197LKWCEQ0NL18",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"fact1607": {
"value": "53800000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:ProfitLossAttributableToOwnersOfParent",
"entity": "scheme:529900197LKWCEQ0NL18",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"fact1608": {
"value": "8600000",
"decimals": -5,
"dimensions": {
"concept": "nkt:ProfitLossAttributableToHybridCapitalHolders",
"entity": "scheme:529900197LKWCEQ0NL18",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"fact1604": {
"value": "62400000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:ProfitLoss",
"entity": "scheme:529900197LKWCEQ0NL18",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"fact1536": {
"value": "199300000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:ComprehensiveIncomeAttributableToOwnersOfParent",
"entity": "scheme:529900197LKWCEQ0NL18",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"fact1537": {
"value": "10900000",
"decimals": -5,
"dimensions": {
"concept": "nkt:ComprehensiveIncomeAttributableToHybridCapitalHoldersOci",
"entity": "scheme:529900197LKWCEQ0NL18",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"fact1630": {
"value": "57300000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:ComprehensiveIncomeAttributableToOwnersOfParent",
"entity": "scheme:529900197LKWCEQ0NL18",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"fact1631": {
"value": "8600000",
"decimals": -5,
"dimensions": {
"concept": "nkt:ComprehensiveIncomeAttributableToHybridCapitalHoldersOci",
"entity": "scheme:529900197LKWCEQ0NL18",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"fact1515": {
"value": "2.2",
"decimals": 1,
"dimensions": {
"concept": "ifrs-full:BasicEarningsLossPerShareFromContinuingOperations",
"entity": "scheme:529900197LKWCEQ0NL18",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"unit": "iso4217:EUR/xbrli:shares"
}
},
"fact1516": {
"value": "2.1",
"decimals": 1,
"dimensions": {
"concept": "ifrs-full:DilutedEarningsLossPerShareFromContinuingOperations",
"entity": "scheme:529900197LKWCEQ0NL18",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"unit": "iso4217:EUR/xbrli:shares"
}
},
"fact1517": {
"value": "2.3",
"decimals": 1,
"dimensions": {
"concept": "ifrs-full:BasicEarningsLossPerShare",
"entity": "scheme:529900197LKWCEQ0NL18",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"unit": "iso4217:EUR/xbrli:shares"
}
},
"fact1518": {
"value": "2.3",
"decimals": 1,
"dimensions": {
"concept": "ifrs-full:DilutedEarningsLossPerShare",
"entity": "scheme:529900197LKWCEQ0NL18",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"unit": "iso4217:EUR/xbrli:shares"
}
},
"fact1609": {
"value": "1",
"decimals": 0,
"dimensions": {
"concept": "ifrs-full:BasicEarningsLossPerShareFromContinuingOperations",
"entity": "scheme:529900197LKWCEQ0NL18",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
"unit": "iso4217:EUR/xbrli:shares"
}
},
"fact1610": {
"value": "1",
"decimals": 0,
"dimensions": {
"concept": "ifrs-full:DilutedEarningsLossPerShareFromContinuingOperations",
"entity": "scheme:529900197LKWCEQ0NL18",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
"unit": "iso4217:EUR/xbrli:shares"
}
},
"fact1611": {
"value": "1.2",
"decimals": 1,
"dimensions": {
"concept": "ifrs-full:BasicEarningsLossPerShare",
"entity": "scheme:529900197LKWCEQ0NL18",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
"unit": "iso4217:EUR/xbrli:shares"
}
},
"fact1612": {
"value": "1.1",
"decimals": 1,
"dimensions": {
"concept": "ifrs-full:DilutedEarningsLossPerShare",
"entity": "scheme:529900197LKWCEQ0NL18",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
"unit": "iso4217:EUR/xbrli:shares"
}
},
"fact1534": {
"value": "210200000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:ComprehensiveIncome",
"entity": "scheme:529900197LKWCEQ0NL18",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"fact1628": {
"value": "65900000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:ComprehensiveIncome",
"entity": "scheme:529900197LKWCEQ0NL18",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"split1520": {
"value": "0",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:DividendsRecognisedAsDistributionsToOwnersPerShare",
"entity": "scheme:529900197LKWCEQ0NL18",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"unit": "iso4217:EUR/xbrli:shares"
}
},
"split1614": {
"value": "0",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:DividendsRecognisedAsDistributionsToOwnersPerShare",
"entity": "scheme:529900197LKWCEQ0NL18",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
"unit": "iso4217:EUR/xbrli:shares"
}
},
"fact1671": {
"value": "350900000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:Goodwill",
"entity": "scheme:529900197LKWCEQ0NL18",
"period": "2024-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"fact1672": {
"value": "35200000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:CopyrightsPatentsAndOtherIndustrialPropertyRightsServiceAndOperatingRights",
"entity": "scheme:529900197LKWCEQ0NL18",
"period": "2024-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"fact1673": {
"value": "24400000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:ComputerSoftware",
"entity": "scheme:529900197LKWCEQ0NL18",
"period": "2024-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"fact1721": {
"value": "350400000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:Goodwill",
"entity": "scheme:529900197LKWCEQ0NL18",
"period": "2023-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"fact1722": {
"value": "39400000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:CopyrightsPatentsAndOtherIndustrialPropertyRightsServiceAndOperatingRights",
"entity": "scheme:529900197LKWCEQ0NL18",
"period": "2023-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"fact1723": {
"value": "31200000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:ComputerSoftware",
"entity": "scheme:529900197LKWCEQ0NL18",
"period": "2023-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"fact1697": {
"value": "144300000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:IssuedCapital",
"entity": "scheme:529900197LKWCEQ0NL18",
"period": "2024-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"fact1698": {
"value": "27900000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:OtherReserves",
"entity": "scheme:529900197LKWCEQ0NL18",
"period": "2024-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"fact1747": {
"value": "115400000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:IssuedCapital",
"entity": "scheme:529900197LKWCEQ0NL18",
"period": "2023-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"fact1748": {
"value": "68900000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:OtherReserves",
"entity": "scheme:529900197LKWCEQ0NL18",
"period": "2023-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"fact1699": {
"value": "1247400000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:RetainedEarnings",
"entity": "scheme:529900197LKWCEQ0NL18",
"period": "2024-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"fact1700": {
"value": "1419600000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:EquityAttributableToOwnersOfParent",
"entity": "scheme:529900197LKWCEQ0NL18",
"period": "2024-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"fact1701": {
"value": "155400000",
"decimals": -5,
"dimensions": {
"concept": "nkt:HybridCapital",
"entity": "scheme:529900197LKWCEQ0NL18",
"period": "2024-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"fact1749": {
"value": "805900000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:RetainedEarnings",
"entity": "scheme:529900197LKWCEQ0NL18",
"period": "2023-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"fact1750": {
"value": "990200000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:EquityAttributableToOwnersOfParent",
"entity": "scheme:529900197LKWCEQ0NL18",
"period": "2023-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"fact1751": {
"value": "153600000",
"decimals": -5,
"dimensions": {
"concept": "nkt:HybridCapital",
"entity": "scheme:529900197LKWCEQ0NL18",
"period": "2023-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"fact1752": {
"value": "1143800000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:Equity",
"entity": "scheme:529900197LKWCEQ0NL18",
"period": "2023-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"fact1674": {
"value": "37100000",
"decimals": -5,
"dimensions": {
"concept": "nkt:CompletedDevelopmentProjects",
"entity": "scheme:529900197LKWCEQ0NL18",
"period": "2024-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"fact1724": {
"value": "19700000",
"decimals": -5,
"dimensions": {
"concept": "nkt:CompletedDevelopmentProjects",
"entity": "scheme:529900197LKWCEQ0NL18",
"period": "2023-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"fact1675": {
"value": "96800000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:IntangibleAssetsUnderDevelopment",
"entity": "scheme:529900197LKWCEQ0NL18",
"period": "2024-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"fact1676": {
"value": "544400000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:IntangibleAssetsAndGoodwill",
"entity": "scheme:529900197LKWCEQ0NL18",
"period": "2024-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"fact1725": {
"value": "87700000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:IntangibleAssetsUnderDevelopment",
"entity": "scheme:529900197LKWCEQ0NL18",
"period": "2023-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"fact1726": {
"value": "528400000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:IntangibleAssetsAndGoodwill",
"entity": "scheme:529900197LKWCEQ0NL18",
"period": "2023-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"fact1702": {
"value": "1575000000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:Equity",
"entity": "scheme:529900197LKWCEQ0NL18",
"period": "2024-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"fact1677": {
"value": "377100000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:LandAndBuildings",
"entity": "scheme:529900197LKWCEQ0NL18",
"period": "2024-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"fact1678": {
"value": "379000000",
"decimals": -6,
"dimensions": {
"concept": "ifrs-full:Machinery",
"entity": "scheme:529900197LKWCEQ0NL18",
"period": "2024-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"fact1679": {
"value": "56800000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:FixturesAndFittings",
"entity": "scheme:529900197LKWCEQ0NL18",
"period": "2024-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"fact1727": {
"value": "292400000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:LandAndBuildings",
"entity": "scheme:529900197LKWCEQ0NL18",
"period": "2023-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"fact1728": {
"value": "297900000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:Machinery",
"entity": "scheme:529900197LKWCEQ0NL18",
"period": "2023-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"fact1729": {
"value": "45000000",
"decimals": -6,
"dimensions": {
"concept": "ifrs-full:FixturesAndFittings",
"entity": "scheme:529900197LKWCEQ0NL18",
"period": "2023-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"fact1704": {
"value": "36700000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:DeferredTaxLiabilities",
"entity": "scheme:529900197LKWCEQ0NL18",
"period": "2024-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"fact1705": {
"value": "39500000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:NoncurrentRecognisedLiabilitiesDefinedBenefitPlan",
"entity": "scheme:529900197LKWCEQ0NL18",
"period": "2024-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"fact1754": {
"value": "54900000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:DeferredTaxLiabilities",
"entity": "scheme:529900197LKWCEQ0NL18",
"period": "2023-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"fact1755": {
"value": "41300000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:NoncurrentRecognisedLiabilitiesDefinedBenefitPlan",
"entity": "scheme:529900197LKWCEQ0NL18",
"period": "2023-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"fact1706": {
"value": "11200000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:NoncurrentProvisions",
"entity": "scheme:529900197LKWCEQ0NL18",
"period": "2024-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"fact1756": {
"value": "11400000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:NoncurrentProvisions",
"entity": "scheme:529900197LKWCEQ0NL18",
"period": "2023-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"fact1680": {
"value": "201000000",
"decimals": -6,
"dimensions": {
"concept": "ifrs-full:ConstructionInProgress",
"entity": "scheme:529900197LKWCEQ0NL18",
"period": "2024-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"fact1730": {
"value": "209500000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:ConstructionInProgress",
"entity": "scheme:529900197LKWCEQ0NL18",
"period": "2023-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"fact1731": {
"value": "844800000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:PropertyPlantAndEquipment",
"entity": "scheme:529900197LKWCEQ0NL18",
"period": "2023-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"fact1707": {
"value": "195500000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:LongtermBorrowings",
"entity": "scheme:529900197LKWCEQ0NL18",
"period": "2024-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"fact1708": {
"value": "282900000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:NoncurrentLiabilities",
"entity": "scheme:529900197LKWCEQ0NL18",
"period": "2024-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"fact1757": {
"value": "180900000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:LongtermBorrowings",
"entity": "scheme:529900197LKWCEQ0NL18",
"period": "2023-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"fact1758": {
"value": "288500000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:NoncurrentLiabilities",
"entity": "scheme:529900197LKWCEQ0NL18",
"period": "2023-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"fact1681": {
"value": "1013900000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:PropertyPlantAndEquipment",
"entity": "scheme:529900197LKWCEQ0NL18",
"period": "2024-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"fact1682": {
"value": "9100000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:InvestmentsInAssociatesAccountedForUsingEquityMethod",
"entity": "scheme:529900197LKWCEQ0NL18",
"period": "2024-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"fact1683": {
"value": "800000",
"decimals": -5,
"dimensions": {
"concept": "nkt:OtherInvestmentsAndReceivablesNonCurrent",
"entity": "scheme:529900197LKWCEQ0NL18",
"period": "2024-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"fact1732": {
"value": "0",
"decimals": -6,
"dimensions": {
"concept": "ifrs-full:InvestmentsInAssociatesAccountedForUsingEquityMethod",
"entity": "scheme:529900197LKWCEQ0NL18",
"period": "2023-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"fact1733": {
"value": "800000",
"decimals": -5,
"dimensions": {
"concept": "nkt:OtherInvestmentsAndReceivablesNonCurrent",
"entity": "scheme:529900197LKWCEQ0NL18",
"period": "2023-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"fact1709": {
"value": "11900000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:CurrentBorrowingsAndCurrentPortionOfNoncurrentBorrowings",
"entity": "scheme:529900197LKWCEQ0NL18",
"period": "2024-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"fact1710": {
"value": "364400000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:TradeAndOtherCurrentPayablesToTradeSuppliers",
"entity": "scheme:529900197LKWCEQ0NL18",
"period": "2024-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"fact1711": {
"value": "238900000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:OtherCurrentLiabilities",
"entity": "scheme:529900197LKWCEQ0NL18",
"period": "2024-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"fact1712": {
"value": "1036600000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:CurrentContractLiabilities",
"entity": "scheme:529900197LKWCEQ0NL18",
"period": "2024-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"fact1713": {
"value": "26900000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:CurrentTaxLiabilitiesCurrent",
"entity": "scheme:529900197LKWCEQ0NL18",
"period": "2024-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"fact1759": {
"value": "14900000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:CurrentBorrowingsAndCurrentPortionOfNoncurrentBorrowings",
"entity": "scheme:529900197LKWCEQ0NL18",
"period": "2023-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"fact1760": {
"value": "351000000",
"decimals": -6,
"dimensions": {
"concept": "ifrs-full:TradeAndOtherCurrentPayablesToTradeSuppliers",
"entity": "scheme:529900197LKWCEQ0NL18",
"period": "2023-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"fact1761": {
"value": "223700000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:OtherCurrentLiabilities",
"entity": "scheme:529900197LKWCEQ0NL18",
"period": "2023-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"fact1762": {
"value": "677600000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:CurrentContractLiabilities",
"entity": "scheme:529900197LKWCEQ0NL18",
"period": "2023-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"fact1763": {
"value": "9600000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:CurrentTaxLiabilitiesCurrent",
"entity": "scheme:529900197LKWCEQ0NL18",
"period": "2023-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"fact1684": {
"value": "12300000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:DeferredTaxAssets",
"entity": "scheme:529900197LKWCEQ0NL18",
"period": "2024-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"fact1685": {
"value": "22200000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:OtherNoncurrentAssets",
"entity": "scheme:529900197LKWCEQ0NL18",
"period": "2024-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"fact1734": {
"value": "11700000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:DeferredTaxAssets",
"entity": "scheme:529900197LKWCEQ0NL18",
"period": "2023-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"fact1735": {
"value": "12500000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:OtherNoncurrentAssets",
"entity": "scheme:529900197LKWCEQ0NL18",
"period": "2023-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"fact1686": {
"value": "1580500000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:NoncurrentAssets",
"entity": "scheme:529900197LKWCEQ0NL18",
"period": "2024-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"fact1736": {
"value": "1385700000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:NoncurrentAssets",
"entity": "scheme:529900197LKWCEQ0NL18",
"period": "2023-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"fact1714": {
"value": "29800000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:CurrentProvisions",
"entity": "scheme:529900197LKWCEQ0NL18",
"period": "2024-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"fact1764": {
"value": "22700000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:CurrentProvisions",
"entity": "scheme:529900197LKWCEQ0NL18",
"period": "2023-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"fact1687": {
"value": "311300000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:Inventories",
"entity": "scheme:529900197LKWCEQ0NL18",
"period": "2024-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"fact1688": {
"value": "525200000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:TradeAndOtherCurrentReceivables",
"entity": "scheme:529900197LKWCEQ0NL18",
"period": "2024-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"fact1689": {
"value": "106900000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:CurrentContractAssets",
"entity": "scheme:529900197LKWCEQ0NL18",
"period": "2024-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"fact1690": {
"value": "14600000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:CurrentTaxAssetsCurrent",
"entity": "scheme:529900197LKWCEQ0NL18",
"period": "2024-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"fact1737": {
"value": "334900000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:Inventories",
"entity": "scheme:529900197LKWCEQ0NL18",
"period": "2023-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"fact1738": {
"value": "522500000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:TradeAndOtherCurrentReceivables",
"entity": "scheme:529900197LKWCEQ0NL18",
"period": "2023-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"fact1739": {
"value": "98200000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:CurrentContractAssets",
"entity": "scheme:529900197LKWCEQ0NL18",
"period": "2023-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"fact1715": {
"value": "37600000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:LiabilitiesIncludedInDisposalGroupsClassifiedAsHeldForSale",
"entity": "scheme:529900197LKWCEQ0NL18",
"period": "2024-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"fact1765": {
"value": "35600000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:LiabilitiesIncludedInDisposalGroupsClassifiedAsHeldForSale",
"entity": "scheme:529900197LKWCEQ0NL18",
"period": "2023-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"fact1716": {
"value": "1746100000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:CurrentLiabilities",
"entity": "scheme:529900197LKWCEQ0NL18",
"period": "2024-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"fact1766": {
"value": "1335100000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:CurrentLiabilities",
"entity": "scheme:529900197LKWCEQ0NL18",
"period": "2023-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"fact1740": {
"value": "3300000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:CurrentTaxAssetsCurrent",
"entity": "scheme:529900197LKWCEQ0NL18",
"period": "2023-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"fact1717": {
"value": "2029000000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:Liabilities",
"entity": "scheme:529900197LKWCEQ0NL18",
"period": "2024-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"fact1718": {
"value": "3604000000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:EquityAndLiabilities",
"entity": "scheme:529900197LKWCEQ0NL18",
"period": "2024-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"fact1767": {
"value": "1623600000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:Liabilities",
"entity": "scheme:529900197LKWCEQ0NL18",
"period": "2023-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"fact1768": {
"value": "2767400000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:EquityAndLiabilities",
"entity": "scheme:529900197LKWCEQ0NL18",
"period": "2023-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"fact1691": {
"value": "200000",
"decimals": -5,
"dimensions": {
"concept": "nkt:InterestBearingReceivablesCurrent",
"entity": "scheme:529900197LKWCEQ0NL18",
"period": "2024-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"fact1741": {
"value": "200000",
"decimals": -5,
"dimensions": {
"concept": "nkt:InterestBearingReceivablesCurrent",
"entity": "scheme:529900197LKWCEQ0NL18",
"period": "2023-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"fact1692": {
"value": "887900000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:CashAndCashEquivalents",
"entity": "scheme:529900197LKWCEQ0NL18",
"period": "2024-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"fact1694": {
"value": "177400000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:NoncurrentAssetsOrDisposalGroupsClassifiedAsHeldForSaleOrAsHeldForDistributionToOwners",
"entity": "scheme:529900197LKWCEQ0NL18",
"period": "2024-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"fact1695": {
"value": "2023500000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:CurrentAssets",
"entity": "scheme:529900197LKWCEQ0NL18",
"period": "2024-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"fact1742": {
"value": "258500000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:CashAndCashEquivalents",
"entity": "scheme:529900197LKWCEQ0NL18",
"period": "2023-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"fact1744": {
"value": "164100000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:NoncurrentAssetsOrDisposalGroupsClassifiedAsHeldForSaleOrAsHeldForDistributionToOwners",
"entity": "scheme:529900197LKWCEQ0NL18",
"period": "2023-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"fact1745": {
"value": "1381700000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:CurrentAssets",
"entity": "scheme:529900197LKWCEQ0NL18",
"period": "2023-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"fact1696": {
"value": "3604000000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:Assets",
"entity": "scheme:529900197LKWCEQ0NL18",
"period": "2024-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"fact1746": {
"value": "2767400000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:Assets",
"entity": "scheme:529900197LKWCEQ0NL18",
"period": "2023-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"fact1496": {
"value": "254600000",
"decimals": -5,
"dimensions": {
"concept": "nkt:EarningsBeforeInterestTaxDepreciationAndAmortizationEbitda",
"entity": "scheme:529900197LKWCEQ0NL18",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"fact1590": {
"value": "154600000",
"decimals": -5,
"dimensions": {
"concept": "nkt:EarningsBeforeInterestTaxDepreciationAndAmortizationEbitda",
"entity": "scheme:529900197LKWCEQ0NL18",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"fact1553": {
"value": "-1500000",
"decimals": -5,
"dimensions": {
"concept": "nkt:RepaymentOfBorrowingsAndProceedsFromBorrowingsClassifiedAsFinancingActivities",
"entity": "scheme:529900197LKWCEQ0NL18",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"fact1554": {
"value": "5700000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:PaymentsOfLeaseLiabilitiesClassifiedAsFinancingActivities",
"entity": "scheme:529900197LKWCEQ0NL18",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"fact1647": {
"value": "-19200000",
"decimals": -5,
"dimensions": {
"concept": "nkt:RepaymentOfBorrowingsAndProceedsFromBorrowingsClassifiedAsFinancingActivities",
"entity": "scheme:529900197LKWCEQ0NL18",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"fact1648": {
"value": "5300000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:PaymentsOfLeaseLiabilitiesClassifiedAsFinancingActivities",
"entity": "scheme:529900197LKWCEQ0NL18",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"fact1649": {
"value": "0",
"decimals": -6,
"dimensions": {
"concept": "ifrs-full:ProceedsFromIssuingShares",
"entity": "scheme:529900197LKWCEQ0NL18",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"fact1555": {
"value": "357300000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:ProceedsFromIssuingShares",
"entity": "scheme:529900197LKWCEQ0NL18",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"fact1556": {
"value": "7200000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:PaymentsToAcquireOrRedeemEntitysShares",
"entity": "scheme:529900197LKWCEQ0NL18",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"fact1538": {
"value": "8700000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:AdjustmentsToReconcileProfitLossOtherThanChangesInWorkingCapital",
"entity": "scheme:529900197LKWCEQ0NL18",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"fact1539": {
"value": "-319800000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:IncreaseDecreaseInWorkingCapital",
"entity": "scheme:529900197LKWCEQ0NL18",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"fact1540": {
"value": "583100000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:CashFlowsFromUsedInOperations",
"entity": "scheme:529900197LKWCEQ0NL18",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"fact1632": {
"value": "-34700000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:AdjustmentsToReconcileProfitLossOtherThanChangesInWorkingCapital",
"entity": "scheme:529900197LKWCEQ0NL18",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"fact1633": {
"value": "-185100000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:IncreaseDecreaseInWorkingCapital",
"entity": "scheme:529900197LKWCEQ0NL18",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"fact1634": {
"value": "305000000",
"decimals": -6,
"dimensions": {
"concept": "ifrs-full:CashFlowsFromUsedInOperations",
"entity": "scheme:529900197LKWCEQ0NL18",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"fact1650": {
"value": "2500000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:PaymentsToAcquireOrRedeemEntitysShares",
"entity": "scheme:529900197LKWCEQ0NL18",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"fact1557": {
"value": "9100000",
"decimals": -5,
"dimensions": {
"concept": "nkt:CouponPaymentsOnHybridCapital",
"entity": "scheme:529900197LKWCEQ0NL18",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"fact1651": {
"value": "7400000",
"decimals": -5,
"dimensions": {
"concept": "nkt:CouponPaymentsOnHybridCapital",
"entity": "scheme:529900197LKWCEQ0NL18",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"fact1558": {
"value": "0",
"decimals": -6,
"dimensions": {
"concept": "nkt:RepurchaseOfHybridCapitalClassifiedAsFinancingActivities",
"entity": "scheme:529900197LKWCEQ0NL18",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"fact1652": {
"value": "63300000",
"decimals": -5,
"dimensions": {
"concept": "nkt:RepurchaseOfHybridCapitalClassifiedAsFinancingActivities",
"entity": "scheme:529900197LKWCEQ0NL18",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"fact1653": {
"value": "61700000",
"decimals": -5,
"dimensions": {
"concept": "nkt:ProceedsFromHybridCapitalClassifiedAsFinancingActivites",
"entity": "scheme:529900197LKWCEQ0NL18",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"fact1654": {
"value": "-36000000",
"decimals": -6,
"dimensions": {
"concept": "ifrs-full:CashFlowsFromUsedInFinancingActivities",
"entity": "scheme:529900197LKWCEQ0NL18",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"fact1559": {
"value": "0",
"decimals": -6,
"dimensions": {
"concept": "nkt:ProceedsFromHybridCapitalClassifiedAsFinancingActivites",
"entity": "scheme:529900197LKWCEQ0NL18",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"fact1541": {
"value": "89000000",
"decimals": -6,
"dimensions": {
"concept": "ifrs-full:FinanceIncomeReceivedClassifiedAsOperatingActivities",
"entity": "scheme:529900197LKWCEQ0NL18",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"fact1542": {
"value": "105000000",
"decimals": -6,
"dimensions": {
"concept": "ifrs-full:FinanceCostsPaidClassifiedAsOperatingActivities",
"entity": "scheme:529900197LKWCEQ0NL18",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"fact1543": {
"value": "38100000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:IncomeTaxesPaidRefundClassifiedAsOperatingActivities",
"entity": "scheme:529900197LKWCEQ0NL18",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"fact1544": {
"value": "13400000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:IncomeTaxesRefundClassifiedAsOperatingActivities",
"entity": "scheme:529900197LKWCEQ0NL18",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"fact1635": {
"value": "50100000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:FinanceIncomeReceivedClassifiedAsOperatingActivities",
"entity": "scheme:529900197LKWCEQ0NL18",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"fact1636": {
"value": "41600000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:FinanceCostsPaidClassifiedAsOperatingActivities",
"entity": "scheme:529900197LKWCEQ0NL18",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"fact1637": {
"value": "26400000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:IncomeTaxesPaidRefundClassifiedAsOperatingActivities",
"entity": "scheme:529900197LKWCEQ0NL18",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"fact1638": {
"value": "11100000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:IncomeTaxesRefundClassifiedAsOperatingActivities",
"entity": "scheme:529900197LKWCEQ0NL18",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"fact1560": {
"value": "333800000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:CashFlowsFromUsedInFinancingActivities",
"entity": "scheme:529900197LKWCEQ0NL18",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"fact1561": {
"value": "629200000",
"decimals": -5,
"dimensions": {
"concept": "nkt:NetCashFlowFromContinuingOperations",
"entity": "scheme:529900197LKWCEQ0NL18",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"fact1562": {
"value": "-1300000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:IncreaseDecreaseInCashAndCashEquivalentsDiscontinuedOperations",
"entity": "scheme:529900197LKWCEQ0NL18",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"fact1655": {
"value": "57400000",
"decimals": -5,
"dimensions": {
"concept": "nkt:NetCashFlowFromContinuingOperations",
"entity": "scheme:529900197LKWCEQ0NL18",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"fact1656": {
"value": "8000000",
"decimals": -6,
"dimensions": {
"concept": "ifrs-full:IncreaseDecreaseInCashAndCashEquivalentsDiscontinuedOperations",
"entity": "scheme:529900197LKWCEQ0NL18",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"fact1545": {
"value": "542400000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:CashFlowsFromUsedInOperatingActivities",
"entity": "scheme:529900197LKWCEQ0NL18",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"fact1639": {
"value": "298200000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:CashFlowsFromUsedInOperatingActivities",
"entity": "scheme:529900197LKWCEQ0NL18",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"fact1563": {
"value": "627900000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:IncreaseDecreaseInCashAndCashEquivalentsBeforeEffectOfExchangeRateChanges",
"entity": "scheme:529900197LKWCEQ0NL18",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"fact1657": {
"value": "65400000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:IncreaseDecreaseInCashAndCashEquivalentsBeforeEffectOfExchangeRateChanges",
"entity": "scheme:529900197LKWCEQ0NL18",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"fact1546": {
"value": "0",
"decimals": -6,
"dimensions": {
"concept": "ifrs-full:CashFlowsUsedInObtainingControlOfSubsidiariesOrOtherBusinessesClassifiedAsInvestingActivities",
"entity": "scheme:529900197LKWCEQ0NL18",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"fact1547": {
"value": "9100000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:PurchaseOfInterestsInAssociates",
"entity": "scheme:529900197LKWCEQ0NL18",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"fact1640": {
"value": "15700000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:CashFlowsUsedInObtainingControlOfSubsidiariesOrOtherBusinessesClassifiedAsInvestingActivities",
"entity": "scheme:529900197LKWCEQ0NL18",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"fact1641": {
"value": "0",
"decimals": -6,
"dimensions": {
"concept": "ifrs-full:PurchaseOfInterestsInAssociates",
"entity": "scheme:529900197LKWCEQ0NL18",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"fact1771": {
"value": "262200000",
"decimals": -5,
"dimensions": {
"concept": "nkt:CashAndCashEquivalientsAtBeginningOfThePeriodeIfDifferentFromStatementOfFinancialPosition",
"entity": "scheme:529900197LKWCEQ0NL18",
"period": "2023-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"fact1565": {
"value": "200000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:EffectOfExchangeRateChangesOnCashAndCashEquivalents",
"entity": "scheme:529900197LKWCEQ0NL18",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"fact1773": {
"value": "200500000",
"decimals": -5,
"dimensions": {
"concept": "nkt:CashAndCashEquivalientsAtBeginningOfThePeriodeIfDifferentFromStatementOfFinancialPosition",
"entity": "scheme:529900197LKWCEQ0NL18",
"period": "2022-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"fact1659": {
"value": "-3700000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:EffectOfExchangeRateChangesOnCashAndCashEquivalents",
"entity": "scheme:529900197LKWCEQ0NL18",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"fact1548": {
"value": "204500000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:PurchaseOfPropertyPlantAndEquipmentClassifiedAsInvestingActivities",
"entity": "scheme:529900197LKWCEQ0NL18",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"fact1549": {
"value": "200000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:ProceedsFromSalesOfPropertyPlantAndEquipmentClassifiedAsInvestingActivities",
"entity": "scheme:529900197LKWCEQ0NL18",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"fact1642": {
"value": "156100000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:PurchaseOfPropertyPlantAndEquipmentClassifiedAsInvestingActivities",
"entity": "scheme:529900197LKWCEQ0NL18",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"fact1643": {
"value": "2000000",
"decimals": -6,
"dimensions": {
"concept": "ifrs-full:ProceedsFromSalesOfPropertyPlantAndEquipmentClassifiedAsInvestingActivities",
"entity": "scheme:529900197LKWCEQ0NL18",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"fact1564": {
"value": "627900000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:IncreaseDecreaseInCashAndCashEquivalentsBeforeEffectOfExchangeRateChanges",
"entity": "scheme:529900197LKWCEQ0NL18",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"fact1719": {
"value": "890300000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:CashAndCashEquivalentsIfDifferentFromStatementOfFinancialPosition",
"entity": "scheme:529900197LKWCEQ0NL18",
"period": "2024-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"fact1720": {
"value": "2400000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:CashAndCashEquivalentsClassifiedAsPartOfDisposalGroupHeldForSale",
"entity": "scheme:529900197LKWCEQ0NL18",
"period": "2024-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"fact1658": {
"value": "65400000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:IncreaseDecreaseInCashAndCashEquivalentsBeforeEffectOfExchangeRateChanges",
"entity": "scheme:529900197LKWCEQ0NL18",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"fact1769": {
"value": "262200000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:CashAndCashEquivalentsIfDifferentFromStatementOfFinancialPosition",
"entity": "scheme:529900197LKWCEQ0NL18",
"period": "2023-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"fact1770": {
"value": "3700000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:CashAndCashEquivalentsClassifiedAsPartOfDisposalGroupHeldForSale",
"entity": "scheme:529900197LKWCEQ0NL18",
"period": "2023-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"fact1550": {
"value": "33600000",
"decimals": -5,
"dimensions": {
"concept": "nkt:PurchaseOfIntangibleAssetsAndOtherInvestmentsNet",
"entity": "scheme:529900197LKWCEQ0NL18",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"fact1551": {
"value": "-247000000",
"decimals": -6,
"dimensions": {
"concept": "ifrs-full:CashFlowsFromUsedInInvestingActivities",
"entity": "scheme:529900197LKWCEQ0NL18",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"fact1644": {
"value": "35000000",
"decimals": -6,
"dimensions": {
"concept": "nkt:PurchaseOfIntangibleAssetsAndOtherInvestmentsNet",
"entity": "scheme:529900197LKWCEQ0NL18",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"fact1645": {
"value": "-204800000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:CashFlowsFromUsedInInvestingActivities",
"entity": "scheme:529900197LKWCEQ0NL18",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"fact1693": {
"value": "887900000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:CashAndCashEquivalents",
"entity": "scheme:529900197LKWCEQ0NL18",
"period": "2024-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"fact1743": {
"value": "258500000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:CashAndCashEquivalents",
"entity": "scheme:529900197LKWCEQ0NL18",
"period": "2023-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"fact1552": {
"value": "295400000",
"decimals": -5,
"dimensions": {
"concept": "nkt:CashFlowsFromUsedInOperatingAndInvestingActivitiesContinuingOperations",
"entity": "scheme:529900197LKWCEQ0NL18",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"fact1646": {
"value": "93400000",
"decimals": -5,
"dimensions": {
"concept": "nkt:CashFlowsFromUsedInOperatingAndInvestingActivitiesContinuingOperations",
"entity": "scheme:529900197LKWCEQ0NL18",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"fact1782": {
"value": "990200000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:Equity",
"entity": "scheme:529900197LKWCEQ0NL18",
"period": "2023-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:EquityAttributableToOwnersOfParentMember",
"unit": "iso4217:EUR"
}
},
"fact1799": {
"value": "7200000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:GainsLossesOnExchangeDifferencesOnTranslationBeforeTax",
"entity": "scheme:529900197LKWCEQ0NL18",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:EquityAttributableToOwnersOfParentMember",
"unit": "iso4217:EUR"
}
},
"fact1775": {
"value": "115400000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:Equity",
"entity": "scheme:529900197LKWCEQ0NL18",
"period": "2023-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:IssuedCapitalMember",
"unit": "iso4217:EUR"
}
},
"fact1776": {
"value": "-900000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:Equity",
"entity": "scheme:529900197LKWCEQ0NL18",
"period": "2023-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:TreasurySharesMember",
"unit": "iso4217:EUR"
}
},
"fact1777": {
"value": "-63400000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:Equity",
"entity": "scheme:529900197LKWCEQ0NL18",
"period": "2023-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:ReserveOfExchangeDifferencesOnTranslationMember",
"unit": "iso4217:EUR"
}
},
"fact1778": {
"value": "145600000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:Equity",
"entity": "scheme:529900197LKWCEQ0NL18",
"period": "2023-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:ReserveOfCashFlowHedgesMember",
"unit": "iso4217:EUR"
}
},
"fact1779": {
"value": "-12700000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:Equity",
"entity": "scheme:529900197LKWCEQ0NL18",
"period": "2023-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "nkt:CostsOfHedgingReserveMember",
"unit": "iso4217:EUR"
}
},
"fact1780": {
"value": "300000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:Equity",
"entity": "scheme:529900197LKWCEQ0NL18",
"period": "2023-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "nkt:FairValueReserveMember",
"unit": "iso4217:EUR"
}
},
"fact1781": {
"value": "805900000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:Equity",
"entity": "scheme:529900197LKWCEQ0NL18",
"period": "2023-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:RetainedEarningsMember",
"unit": "iso4217:EUR"
}
},
"fact1783": {
"value": "153600000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:Equity",
"entity": "scheme:529900197LKWCEQ0NL18",
"period": "2023-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "nkt:HybridCapitalMember",
"unit": "iso4217:EUR"
}
},
"fact1772": {
"value": "1143800000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:Equity",
"entity": "scheme:529900197LKWCEQ0NL18",
"period": "2023-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"fact1784": {
"value": "7200000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:GainsLossesOnExchangeDifferencesOnTranslationBeforeTax",
"entity": "scheme:529900197LKWCEQ0NL18",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:ReserveOfExchangeDifferencesOnTranslationMember",
"unit": "iso4217:EUR"
}
},
"fact1787": {
"value": "-300000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:GainsLossesOnExchangeDifferencesOnTranslationBeforeTax",
"entity": "scheme:529900197LKWCEQ0NL18",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "nkt:FairValueReserveMember",
"unit": "iso4217:EUR"
}
},
"fact1790": {
"value": "300000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:GainsLossesOnExchangeDifferencesOnTranslationBeforeTax",
"entity": "scheme:529900197LKWCEQ0NL18",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:RetainedEarningsMember",
"unit": "iso4217:EUR"
}
},
"fact1521": {
"value": "7200000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:GainsLossesOnExchangeDifferencesOnTranslationBeforeTax",
"entity": "scheme:529900197LKWCEQ0NL18",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"fact1815": {
"value": "50600000",
"decimals": -5,
"dimensions": {
"concept": "nkt:ValueAdjustmentForTheYear",
"entity": "scheme:529900197LKWCEQ0NL18",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:ReserveOfCashFlowHedgesMember",
"unit": "iso4217:EUR"
}
},
"fact1816": {
"value": "14000000",
"decimals": -6,
"dimensions": {
"concept": "nkt:ReclassificationAdjustmentsOnCashFlowHedgesTransferredToRevenueBeforeTaxEquity",
"entity": "scheme:529900197LKWCEQ0NL18",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:ReserveOfCashFlowHedgesMember",
"unit": "iso4217:EUR"
}
},
"fact1817": {
"value": "-400000",
"decimals": -5,
"dimensions": {
"concept": "nkt:ReclassificationAdjustmentsOnCashFlowHedgesTransferredToFinancialIncomeBeforeTax",
"entity": "scheme:529900197LKWCEQ0NL18",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:ReserveOfCashFlowHedgesMember",
"unit": "iso4217:EUR"
}
},
"fact1823": {
"value": "24800000",
"decimals": -5,
"dimensions": {
"concept": "nkt:ValueAdjustmentForTheYear",
"entity": "scheme:529900197LKWCEQ0NL18",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "nkt:CostsOfHedgingReserveMember",
"unit": "iso4217:EUR"
}
},
"fact1824": {
"value": "3300000",
"decimals": -5,
"dimensions": {
"concept": "nkt:ReclassificationAdjustmentsOnCashFlowHedgesTransferredToRevenueBeforeTaxEquity",
"entity": "scheme:529900197LKWCEQ0NL18",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "nkt:CostsOfHedgingReserveMember",
"unit": "iso4217:EUR"
}
},
"fact1800": {
"value": "75400000",
"decimals": -5,
"dimensions": {
"concept": "nkt:ValueAdjustmentForTheYear",
"entity": "scheme:529900197LKWCEQ0NL18",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:EquityAttributableToOwnersOfParentMember",
"unit": "iso4217:EUR"
}
},
"fact1801": {
"value": "17300000",
"decimals": -5,
"dimensions": {
"concept": "nkt:ReclassificationAdjustmentsOnCashFlowHedgesTransferredToRevenueBeforeTaxEquity",
"entity": "scheme:529900197LKWCEQ0NL18",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:EquityAttributableToOwnersOfParentMember",
"unit": "iso4217:EUR"
}
},
"fact1566": {
"value": "75400000",
"decimals": -5,
"dimensions": {
"concept": "nkt:ValueAdjustmentForTheYear",
"entity": "scheme:529900197LKWCEQ0NL18",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"fact1567": {
"value": "17300000",
"decimals": -5,
"dimensions": {
"concept": "nkt:ReclassificationAdjustmentsOnCashFlowHedgesTransferredToRevenueBeforeTaxEquity",
"entity": "scheme:529900197LKWCEQ0NL18",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"fact1802": {
"value": "-400000",
"decimals": -5,
"dimensions": {
"concept": "nkt:ReclassificationAdjustmentsOnCashFlowHedgesTransferredToFinancialIncomeBeforeTax",
"entity": "scheme:529900197LKWCEQ0NL18",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:EquityAttributableToOwnersOfParentMember",
"unit": "iso4217:EUR"
}
},
"fact1525": {
"value": "-400000",
"decimals": -5,
"dimensions": {
"concept": "nkt:ReclassificationAdjustmentsOnCashFlowHedgesTransferredToFinancialIncomeBeforeTax",
"entity": "scheme:529900197LKWCEQ0NL18",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"fact1791": {
"value": "1400000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:OtherComprehensiveIncomeBeforeTaxGainsLossesOnRemeasurementsOfDefinedBenefitPlans",
"entity": "scheme:529900197LKWCEQ0NL18",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:RetainedEarningsMember",
"unit": "iso4217:EUR"
}
},
"fact1792": {
"value": "500000",
"decimals": -5,
"dimensions": {
"concept": "nkt:TaxOnOtherComprehensiveIncome",
"entity": "scheme:529900197LKWCEQ0NL18",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:RetainedEarningsMember",
"unit": "iso4217:EUR"
}
},
"fact1803": {
"value": "1400000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:OtherComprehensiveIncomeBeforeTaxGainsLossesOnRemeasurementsOfDefinedBenefitPlans",
"entity": "scheme:529900197LKWCEQ0NL18",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:EquityAttributableToOwnersOfParentMember",
"unit": "iso4217:EUR"
}
},
"fact1531": {
"value": "1400000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:OtherComprehensiveIncomeBeforeTaxGainsLossesOnRemeasurementsOfDefinedBenefitPlans",
"entity": "scheme:529900197LKWCEQ0NL18",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"fact1818": {
"value": "5000000",
"decimals": -6,
"dimensions": {
"concept": "nkt:TaxOnOtherComprehensiveIncome",
"entity": "scheme:529900197LKWCEQ0NL18",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:ReserveOfCashFlowHedgesMember",
"unit": "iso4217:EUR"
}
},
"fact1825": {
"value": "9500000",
"decimals": -5,
"dimensions": {
"concept": "nkt:TaxOnOtherComprehensiveIncome",
"entity": "scheme:529900197LKWCEQ0NL18",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "nkt:CostsOfHedgingReserveMember",
"unit": "iso4217:EUR"
}
},
"fact1804": {
"value": "15000000",
"decimals": -6,
"dimensions": {
"concept": "nkt:TaxOnOtherComprehensiveIncome",
"entity": "scheme:529900197LKWCEQ0NL18",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:EquityAttributableToOwnersOfParentMember",
"unit": "iso4217:EUR"
}
},
"fact1805": {
"value": "85900000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:OtherComprehensiveIncome",
"entity": "scheme:529900197LKWCEQ0NL18",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:EquityAttributableToOwnersOfParentMember",
"unit": "iso4217:EUR"
}
},
"fact1806": {
"value": "113400000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:ProfitLoss",
"entity": "scheme:529900197LKWCEQ0NL18",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:EquityAttributableToOwnersOfParentMember",
"unit": "iso4217:EUR"
}
},
"fact1807": {
"value": "199300000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:ComprehensiveIncome",
"entity": "scheme:529900197LKWCEQ0NL18",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:EquityAttributableToOwnersOfParentMember",
"unit": "iso4217:EUR"
}
},
"fact1568": {
"value": "15000000",
"decimals": -6,
"dimensions": {
"concept": "nkt:TaxOnOtherComprehensiveIncome",
"entity": "scheme:529900197LKWCEQ0NL18",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"fact1569": {
"value": "85900000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:OtherComprehensiveIncome",
"entity": "scheme:529900197LKWCEQ0NL18",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"fact1512": {
"value": "124300000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:ProfitLoss",
"entity": "scheme:529900197LKWCEQ0NL18",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"fact1535": {
"value": "210200000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:ComprehensiveIncome",
"entity": "scheme:529900197LKWCEQ0NL18",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"fact1830": {
"value": "0",
"decimals": -6,
"dimensions": {
"concept": "ifrs-full:OtherComprehensiveIncome",
"entity": "scheme:529900197LKWCEQ0NL18",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:IssuedCapitalMember",
"unit": "iso4217:EUR"
}
},
"fact1831": {
"value": "0",
"decimals": -6,
"dimensions": {
"concept": "ifrs-full:ComprehensiveIncome",
"entity": "scheme:529900197LKWCEQ0NL18",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:IssuedCapitalMember",
"unit": "iso4217:EUR"
}
},
"fact1833": {
"value": "0",
"decimals": -6,
"dimensions": {
"concept": "ifrs-full:OtherComprehensiveIncome",
"entity": "scheme:529900197LKWCEQ0NL18",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:TreasurySharesMember",
"unit": "iso4217:EUR"
}
},
"fact1834": {
"value": "0",
"decimals": -6,
"dimensions": {
"concept": "ifrs-full:ComprehensiveIncome",
"entity": "scheme:529900197LKWCEQ0NL18",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:TreasurySharesMember",
"unit": "iso4217:EUR"
}
},
"fact1785": {
"value": "7200000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:OtherComprehensiveIncome",
"entity": "scheme:529900197LKWCEQ0NL18",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:ReserveOfExchangeDifferencesOnTranslationMember",
"unit": "iso4217:EUR"
}
},
"fact1786": {
"value": "7200000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:ComprehensiveIncome",
"entity": "scheme:529900197LKWCEQ0NL18",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:ReserveOfExchangeDifferencesOnTranslationMember",
"unit": "iso4217:EUR"
}
},
"fact1819": {
"value": "59200000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:OtherComprehensiveIncome",
"entity": "scheme:529900197LKWCEQ0NL18",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:ReserveOfCashFlowHedgesMember",
"unit": "iso4217:EUR"
}
},
"fact1826": {
"value": "18600000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:OtherComprehensiveIncome",
"entity": "scheme:529900197LKWCEQ0NL18",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "nkt:CostsOfHedgingReserveMember",
"unit": "iso4217:EUR"
}
},
"fact1788": {
"value": "-300000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:OtherComprehensiveIncome",
"entity": "scheme:529900197LKWCEQ0NL18",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "nkt:FairValueReserveMember",
"unit": "iso4217:EUR"
}
},
"fact1789": {
"value": "-300000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:ComprehensiveIncome",
"entity": "scheme:529900197LKWCEQ0NL18",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "nkt:FairValueReserveMember",
"unit": "iso4217:EUR"
}
},
"fact1793": {
"value": "1200000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:OtherComprehensiveIncome",
"entity": "scheme:529900197LKWCEQ0NL18",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:RetainedEarningsMember",
"unit": "iso4217:EUR"
}
},
"fact1837": {
"value": "0",
"decimals": -6,
"dimensions": {
"concept": "ifrs-full:OtherComprehensiveIncome",
"entity": "scheme:529900197LKWCEQ0NL18",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "nkt:HybridCapitalMember",
"unit": "iso4217:EUR"
}
},
"fact1838": {
"value": "10900000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:ProfitLoss",
"entity": "scheme:529900197LKWCEQ0NL18",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "nkt:HybridCapitalMember",
"unit": "iso4217:EUR"
}
},
"fact1839": {
"value": "10900000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:ComprehensiveIncome",
"entity": "scheme:529900197LKWCEQ0NL18",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "nkt:HybridCapitalMember",
"unit": "iso4217:EUR"
}
},
"fact1794": {
"value": "113400000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:ProfitLoss",
"entity": "scheme:529900197LKWCEQ0NL18",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:RetainedEarningsMember",
"unit": "iso4217:EUR"
}
},
"fact1795": {
"value": "114600000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:ComprehensiveIncome",
"entity": "scheme:529900197LKWCEQ0NL18",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:RetainedEarningsMember",
"unit": "iso4217:EUR"
}
},
"fact1820": {
"value": "59200000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:ComprehensiveIncome",
"entity": "scheme:529900197LKWCEQ0NL18",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:ReserveOfCashFlowHedgesMember",
"unit": "iso4217:EUR"
}
},
"fact1827": {
"value": "18600000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:ComprehensiveIncome",
"entity": "scheme:529900197LKWCEQ0NL18",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "nkt:CostsOfHedgingReserveMember",
"unit": "iso4217:EUR"
}
},
"fact1821": {
"value": "-151000000",
"decimals": -6,
"dimensions": {
"concept": "nkt:DeferredHedgeGainsAndLossesTransferredToInventory",
"entity": "scheme:529900197LKWCEQ0NL18",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:ReserveOfCashFlowHedgesMember",
"unit": "iso4217:EUR"
}
},
"fact1822": {
"value": "-33800000",
"decimals": -5,
"dimensions": {
"concept": "nkt:TaxOnDeferredHedgeGainsAndLossesTransferredToInventory",
"entity": "scheme:529900197LKWCEQ0NL18",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:ReserveOfCashFlowHedgesMember",
"unit": "iso4217:EUR"
}
},
"fact1828": {
"value": "-6000000",
"decimals": -6,
"dimensions": {
"concept": "nkt:DeferredHedgeGainsAndLossesTransferredToInventory",
"entity": "scheme:529900197LKWCEQ0NL18",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "nkt:CostsOfHedgingReserveMember",
"unit": "iso4217:EUR"
}
},
"fact1829": {
"value": "-800000",
"decimals": -5,
"dimensions": {
"concept": "nkt:TaxOnDeferredHedgeGainsAndLossesTransferredToInventory",
"entity": "scheme:529900197LKWCEQ0NL18",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "nkt:CostsOfHedgingReserveMember",
"unit": "iso4217:EUR"
}
},
"fact1808": {
"value": "-157000000",
"decimals": -6,
"dimensions": {
"concept": "nkt:DeferredHedgeGainsAndLossesTransferredToInventory",
"entity": "scheme:529900197LKWCEQ0NL18",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:EquityAttributableToOwnersOfParentMember",
"unit": "iso4217:EUR"
}
},
"fact1809": {
"value": "-34600000",
"decimals": -5,
"dimensions": {
"concept": "nkt:TaxOnDeferredHedgeGainsAndLossesTransferredToInventory",
"entity": "scheme:529900197LKWCEQ0NL18",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:EquityAttributableToOwnersOfParentMember",
"unit": "iso4217:EUR"
}
},
"fact1570": {
"value": "-157000000",
"decimals": -6,
"dimensions": {
"concept": "nkt:DeferredHedgeGainsAndLossesTransferredToInventory",
"entity": "scheme:529900197LKWCEQ0NL18",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"fact1571": {
"value": "-34600000",
"decimals": -5,
"dimensions": {
"concept": "nkt:TaxOnDeferredHedgeGainsAndLossesTransferredToInventory",
"entity": "scheme:529900197LKWCEQ0NL18",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"fact1832": {
"value": "28900000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:IssueOfEquity",
"entity": "scheme:529900197LKWCEQ0NL18",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:IssuedCapitalMember",
"unit": "iso4217:EUR"
}
},
"fact1796": {
"value": "328400000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:IssueOfEquity",
"entity": "scheme:529900197LKWCEQ0NL18",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:RetainedEarningsMember",
"unit": "iso4217:EUR"
}
},
"fact1810": {
"value": "357300000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:IssueOfEquity",
"entity": "scheme:529900197LKWCEQ0NL18",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:EquityAttributableToOwnersOfParentMember",
"unit": "iso4217:EUR"
}
},
"fact1811": {
"value": "7200000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:PurchaseOfTreasuryShares",
"entity": "scheme:529900197LKWCEQ0NL18",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:EquityAttributableToOwnersOfParentMember",
"unit": "iso4217:EUR"
}
},
"fact1572": {
"value": "357300000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:IssueOfEquity",
"entity": "scheme:529900197LKWCEQ0NL18",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"fact1573": {
"value": "7200000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:PurchaseOfTreasuryShares",
"entity": "scheme:529900197LKWCEQ0NL18",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"fact1835": {
"value": "7200000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:PurchaseOfTreasuryShares",
"entity": "scheme:529900197LKWCEQ0NL18",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:TreasurySharesMember",
"unit": "iso4217:EUR"
}
},
"fact1836": {
"value": "-3900000",
"decimals": -5,
"dimensions": {
"concept": "nkt:ExerciseOfPerformanceShares",
"entity": "scheme:529900197LKWCEQ0NL18",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:TreasurySharesMember",
"unit": "iso4217:EUR"
}
},
"fact1797": {
"value": "3900000",
"decimals": -5,
"dimensions": {
"concept": "nkt:ExerciseOfPerformanceShares",
"entity": "scheme:529900197LKWCEQ0NL18",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:RetainedEarningsMember",
"unit": "iso4217:EUR"
}
},
"fact1798": {
"value": "2400000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:IncreaseDecreaseThroughSharebasedPaymentTransactions",
"entity": "scheme:529900197LKWCEQ0NL18",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:RetainedEarningsMember",
"unit": "iso4217:EUR"
}
},
"fact1812": {
"value": "0",
"decimals": -6,
"dimensions": {
"concept": "nkt:ExerciseOfPerformanceShares",
"entity": "scheme:529900197LKWCEQ0NL18",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:EquityAttributableToOwnersOfParentMember",
"unit": "iso4217:EUR"
}
},
"fact1574": {
"value": "0",
"decimals": -6,
"dimensions": {
"concept": "nkt:ExerciseOfPerformanceShares",
"entity": "scheme:529900197LKWCEQ0NL18",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"fact1813": {
"value": "2400000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:IncreaseDecreaseThroughSharebasedPaymentTransactions",
"entity": "scheme:529900197LKWCEQ0NL18",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:EquityAttributableToOwnersOfParentMember",
"unit": "iso4217:EUR"
}
},
"fact1575": {
"value": "2400000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:IncreaseDecreaseThroughSharebasedPaymentTransactions",
"entity": "scheme:529900197LKWCEQ0NL18",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"fact1814": {
"value": "0",
"decimals": -6,
"dimensions": {
"concept": "nkt:CouponPaymentsHybridCapital",
"entity": "scheme:529900197LKWCEQ0NL18",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:EquityAttributableToOwnersOfParentMember",
"unit": "iso4217:EUR"
}
},
"fact1840": {
"value": "-9100000",
"decimals": -5,
"dimensions": {
"concept": "nkt:CouponPaymentsHybridCapital",
"entity": "scheme:529900197LKWCEQ0NL18",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "nkt:HybridCapitalMember",
"unit": "iso4217:EUR"
}
},
"fact1576": {
"value": "-9100000",
"decimals": -5,
"dimensions": {
"concept": "nkt:CouponPaymentsHybridCapital",
"entity": "scheme:529900197LKWCEQ0NL18",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"fact1842": {
"value": "-4200000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:Equity",
"entity": "scheme:529900197LKWCEQ0NL18",
"period": "2024-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:TreasurySharesMember",
"unit": "iso4217:EUR"
}
},
"fact1845": {
"value": "700000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:Equity",
"entity": "scheme:529900197LKWCEQ0NL18",
"period": "2024-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "nkt:CostsOfHedgingReserveMember",
"unit": "iso4217:EUR"
}
},
"fact1846": {
"value": "0",
"decimals": -6,
"dimensions": {
"concept": "ifrs-full:Equity",
"entity": "scheme:529900197LKWCEQ0NL18",
"period": "2024-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "nkt:FairValueReserveMember",
"unit": "iso4217:EUR"
}
},
"fact1841": {
"value": "144300000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:Equity",
"entity": "scheme:529900197LKWCEQ0NL18",
"period": "2024-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:IssuedCapitalMember",
"unit": "iso4217:EUR"
}
},
"fact1843": {
"value": "-56200000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:Equity",
"entity": "scheme:529900197LKWCEQ0NL18",
"period": "2024-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:ReserveOfExchangeDifferencesOnTranslationMember",
"unit": "iso4217:EUR"
}
},
"fact1844": {
"value": "87600000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:Equity",
"entity": "scheme:529900197LKWCEQ0NL18",
"period": "2024-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:ReserveOfCashFlowHedgesMember",
"unit": "iso4217:EUR"
}
},
"fact1847": {
"value": "1247400000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:Equity",
"entity": "scheme:529900197LKWCEQ0NL18",
"period": "2024-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:RetainedEarningsMember",
"unit": "iso4217:EUR"
}
},
"fact1848": {
"value": "1419600000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:Equity",
"entity": "scheme:529900197LKWCEQ0NL18",
"period": "2024-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:EquityAttributableToOwnersOfParentMember",
"unit": "iso4217:EUR"
}
},
"fact1849": {
"value": "155400000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:Equity",
"entity": "scheme:529900197LKWCEQ0NL18",
"period": "2024-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "nkt:HybridCapitalMember",
"unit": "iso4217:EUR"
}
},
"fact1703": {
"value": "1575000000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:Equity",
"entity": "scheme:529900197LKWCEQ0NL18",
"period": "2024-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"fact1857": {
"value": "1007500000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:Equity",
"entity": "scheme:529900197LKWCEQ0NL18",
"period": "2022-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:EquityAttributableToOwnersOfParentMember",
"unit": "iso4217:EUR"
}
},
"fact1862": {
"value": "-44800000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:GainsLossesOnExchangeDifferencesOnTranslationBeforeTax",
"entity": "scheme:529900197LKWCEQ0NL18",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:EquityAttributableToOwnersOfParentMember",
"unit": "iso4217:EUR"
}
},
"fact1850": {
"value": "115400000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:Equity",
"entity": "scheme:529900197LKWCEQ0NL18",
"period": "2022-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:IssuedCapitalMember",
"unit": "iso4217:EUR"
}
},
"fact1851": {
"value": "0",
"decimals": -6,
"dimensions": {
"concept": "ifrs-full:Equity",
"entity": "scheme:529900197LKWCEQ0NL18",
"period": "2022-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:TreasurySharesMember",
"unit": "iso4217:EUR"
}
},
"fact1852": {
"value": "-18600000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:Equity",
"entity": "scheme:529900197LKWCEQ0NL18",
"period": "2022-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:ReserveOfExchangeDifferencesOnTranslationMember",
"unit": "iso4217:EUR"
}
},
"fact1853": {
"value": "182000000",
"decimals": -6,
"dimensions": {
"concept": "ifrs-full:Equity",
"entity": "scheme:529900197LKWCEQ0NL18",
"period": "2022-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:ReserveOfCashFlowHedgesMember",
"unit": "iso4217:EUR"
}
},
"fact1854": {
"value": "-16200000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:Equity",
"entity": "scheme:529900197LKWCEQ0NL18",
"period": "2022-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "nkt:CostsOfHedgingReserveMember",
"unit": "iso4217:EUR"
}
},
"fact1855": {
"value": "300000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:Equity",
"entity": "scheme:529900197LKWCEQ0NL18",
"period": "2022-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "nkt:FairValueReserveMember",
"unit": "iso4217:EUR"
}
},
"fact1856": {
"value": "744600000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:Equity",
"entity": "scheme:529900197LKWCEQ0NL18",
"period": "2022-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:RetainedEarningsMember",
"unit": "iso4217:EUR"
}
},
"fact1858": {
"value": "152400000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:Equity",
"entity": "scheme:529900197LKWCEQ0NL18",
"period": "2022-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "nkt:HybridCapitalMember",
"unit": "iso4217:EUR"
}
},
"fact1774": {
"value": "1159900000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:Equity",
"entity": "scheme:529900197LKWCEQ0NL18",
"period": "2022-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"fact1859": {
"value": "-44800000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:GainsLossesOnExchangeDifferencesOnTranslationBeforeTax",
"entity": "scheme:529900197LKWCEQ0NL18",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:ReserveOfExchangeDifferencesOnTranslationMember",
"unit": "iso4217:EUR"
}
},
"fact1615": {
"value": "-44800000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:GainsLossesOnExchangeDifferencesOnTranslationBeforeTax",
"entity": "scheme:529900197LKWCEQ0NL18",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"fact1878": {
"value": "71400000",
"decimals": -5,
"dimensions": {
"concept": "nkt:ValueAdjustmentForTheYear",
"entity": "scheme:529900197LKWCEQ0NL18",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:ReserveOfCashFlowHedgesMember",
"unit": "iso4217:EUR"
}
},
"fact1879": {
"value": "-14200000",
"decimals": -5,
"dimensions": {
"concept": "nkt:ReclassificationAdjustmentsOnCashFlowHedgesTransferredToRevenueBeforeTaxEquity",
"entity": "scheme:529900197LKWCEQ0NL18",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:ReserveOfCashFlowHedgesMember",
"unit": "iso4217:EUR"
}
},
"fact1880": {
"value": "-2100000",
"decimals": -5,
"dimensions": {
"concept": "nkt:ReclassificationAdjustmentsOnCashFlowHedgesTransferredToFinancialIncomeBeforeTax",
"entity": "scheme:529900197LKWCEQ0NL18",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:ReserveOfCashFlowHedgesMember",
"unit": "iso4217:EUR"
}
},
"fact1886": {
"value": "1700000",
"decimals": -5,
"dimensions": {
"concept": "nkt:ValueAdjustmentForTheYear",
"entity": "scheme:529900197LKWCEQ0NL18",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "nkt:CostsOfHedgingReserveMember",
"unit": "iso4217:EUR"
}
},
"fact1863": {
"value": "73100000",
"decimals": -5,
"dimensions": {
"concept": "nkt:ValueAdjustmentForTheYear",
"entity": "scheme:529900197LKWCEQ0NL18",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:EquityAttributableToOwnersOfParentMember",
"unit": "iso4217:EUR"
}
},
"fact1864": {
"value": "-14200000",
"decimals": -5,
"dimensions": {
"concept": "nkt:ReclassificationAdjustmentsOnCashFlowHedgesTransferredToRevenueBeforeTaxEquity",
"entity": "scheme:529900197LKWCEQ0NL18",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:EquityAttributableToOwnersOfParentMember",
"unit": "iso4217:EUR"
}
},
"fact1865": {
"value": "-2100000",
"decimals": -5,
"dimensions": {
"concept": "nkt:ReclassificationAdjustmentsOnCashFlowHedgesTransferredToFinancialIncomeBeforeTax",
"entity": "scheme:529900197LKWCEQ0NL18",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:EquityAttributableToOwnersOfParentMember",
"unit": "iso4217:EUR"
}
},
"fact1660": {
"value": "73100000",
"decimals": -5,
"dimensions": {
"concept": "nkt:ValueAdjustmentForTheYear",
"entity": "scheme:529900197LKWCEQ0NL18",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"fact1661": {
"value": "-14200000",
"decimals": -5,
"dimensions": {
"concept": "nkt:ReclassificationAdjustmentsOnCashFlowHedgesTransferredToRevenueBeforeTaxEquity",
"entity": "scheme:529900197LKWCEQ0NL18",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"fact1619": {
"value": "-2100000",
"decimals": -5,
"dimensions": {
"concept": "nkt:ReclassificationAdjustmentsOnCashFlowHedgesTransferredToFinancialIncomeBeforeTax",
"entity": "scheme:529900197LKWCEQ0NL18",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"fact1892": {
"value": "11700000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:OtherComprehensiveIncomeBeforeTaxGainsLossesOnRemeasurementsOfDefinedBenefitPlans",
"entity": "scheme:529900197LKWCEQ0NL18",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:RetainedEarningsMember",
"unit": "iso4217:EUR"
}
},
"fact1893": {
"value": "3700000",
"decimals": -5,
"dimensions": {
"concept": "nkt:TaxOnOtherComprehensiveIncome",
"entity": "scheme:529900197LKWCEQ0NL18",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:RetainedEarningsMember",
"unit": "iso4217:EUR"
}
},
"fact1894": {
"value": "8000000",
"decimals": -6,
"dimensions": {
"concept": "ifrs-full:OtherComprehensiveIncome",
"entity": "scheme:529900197LKWCEQ0NL18",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:RetainedEarningsMember",
"unit": "iso4217:EUR"
}
},
"fact1866": {
"value": "11700000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:OtherComprehensiveIncomeBeforeTaxGainsLossesOnRemeasurementsOfDefinedBenefitPlans",
"entity": "scheme:529900197LKWCEQ0NL18",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:EquityAttributableToOwnersOfParentMember",
"unit": "iso4217:EUR"
}
},
"fact1625": {
"value": "11700000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:OtherComprehensiveIncomeBeforeTaxGainsLossesOnRemeasurementsOfDefinedBenefitPlans",
"entity": "scheme:529900197LKWCEQ0NL18",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"fact1881": {
"value": "16100000",
"decimals": -5,
"dimensions": {
"concept": "nkt:TaxOnOtherComprehensiveIncome",
"entity": "scheme:529900197LKWCEQ0NL18",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:ReserveOfCashFlowHedgesMember",
"unit": "iso4217:EUR"
}
},
"fact1887": {
"value": "400000",
"decimals": -5,
"dimensions": {
"concept": "nkt:TaxOnOtherComprehensiveIncome",
"entity": "scheme:529900197LKWCEQ0NL18",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "nkt:CostsOfHedgingReserveMember",
"unit": "iso4217:EUR"
}
},
"fact1867": {
"value": "20200000",
"decimals": -5,
"dimensions": {
"concept": "nkt:TaxOnOtherComprehensiveIncome",
"entity": "scheme:529900197LKWCEQ0NL18",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:EquityAttributableToOwnersOfParentMember",
"unit": "iso4217:EUR"
}
},
"fact1868": {
"value": "3500000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:OtherComprehensiveIncome",
"entity": "scheme:529900197LKWCEQ0NL18",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:EquityAttributableToOwnersOfParentMember",
"unit": "iso4217:EUR"
}
},
"fact1662": {
"value": "20200000",
"decimals": -5,
"dimensions": {
"concept": "nkt:TaxOnOtherComprehensiveIncome",
"entity": "scheme:529900197LKWCEQ0NL18",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"fact1663": {
"value": "3500000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:OtherComprehensiveIncome",
"entity": "scheme:529900197LKWCEQ0NL18",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"fact1900": {
"value": "0",
"decimals": -6,
"dimensions": {
"concept": "ifrs-full:OtherComprehensiveIncome",
"entity": "scheme:529900197LKWCEQ0NL18",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:IssuedCapitalMember",
"unit": "iso4217:EUR"
}
},
"fact1901": {
"value": "0",
"decimals": -6,
"dimensions": {
"concept": "ifrs-full:ComprehensiveIncome",
"entity": "scheme:529900197LKWCEQ0NL18",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:IssuedCapitalMember",
"unit": "iso4217:EUR"
}
},
"fact1902": {
"value": "0",
"decimals": -6,
"dimensions": {
"concept": "ifrs-full:OtherComprehensiveIncome",
"entity": "scheme:529900197LKWCEQ0NL18",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:TreasurySharesMember",
"unit": "iso4217:EUR"
}
},
"fact1903": {
"value": "0",
"decimals": -6,
"dimensions": {
"concept": "ifrs-full:ComprehensiveIncome",
"entity": "scheme:529900197LKWCEQ0NL18",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:TreasurySharesMember",
"unit": "iso4217:EUR"
}
},
"fact1860": {
"value": "-44800000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:OtherComprehensiveIncome",
"entity": "scheme:529900197LKWCEQ0NL18",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:ReserveOfExchangeDifferencesOnTranslationMember",
"unit": "iso4217:EUR"
}
},
"fact1861": {
"value": "-44800000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:ComprehensiveIncome",
"entity": "scheme:529900197LKWCEQ0NL18",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:ReserveOfExchangeDifferencesOnTranslationMember",
"unit": "iso4217:EUR"
}
},
"fact1882": {
"value": "39000000",
"decimals": -6,
"dimensions": {
"concept": "ifrs-full:OtherComprehensiveIncome",
"entity": "scheme:529900197LKWCEQ0NL18",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:ReserveOfCashFlowHedgesMember",
"unit": "iso4217:EUR"
}
},
"fact1888": {
"value": "1300000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:OtherComprehensiveIncome",
"entity": "scheme:529900197LKWCEQ0NL18",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "nkt:CostsOfHedgingReserveMember",
"unit": "iso4217:EUR"
}
},
"fact1906": {
"value": "0",
"decimals": -6,
"dimensions": {
"concept": "ifrs-full:OtherComprehensiveIncome",
"entity": "scheme:529900197LKWCEQ0NL18",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "nkt:FairValueReserveMember",
"unit": "iso4217:EUR"
}
},
"fact1907": {
"value": "0",
"decimals": -6,
"dimensions": {
"concept": "ifrs-full:ComprehensiveIncome",
"entity": "scheme:529900197LKWCEQ0NL18",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "nkt:FairValueReserveMember",
"unit": "iso4217:EUR"
}
},
"fact1908": {
"value": "0",
"decimals": -6,
"dimensions": {
"concept": "ifrs-full:OtherComprehensiveIncome",
"entity": "scheme:529900197LKWCEQ0NL18",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "nkt:HybridCapitalMember",
"unit": "iso4217:EUR"
}
},
"fact1909": {
"value": "8600000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:ProfitLoss",
"entity": "scheme:529900197LKWCEQ0NL18",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "nkt:HybridCapitalMember",
"unit": "iso4217:EUR"
}
},
"fact1910": {
"value": "8600000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:ComprehensiveIncome",
"entity": "scheme:529900197LKWCEQ0NL18",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "nkt:HybridCapitalMember",
"unit": "iso4217:EUR"
}
},
"fact1895": {
"value": "53800000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:ProfitLoss",
"entity": "scheme:529900197LKWCEQ0NL18",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:RetainedEarningsMember",
"unit": "iso4217:EUR"
}
},
"fact1896": {
"value": "61800000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:ComprehensiveIncome",
"entity": "scheme:529900197LKWCEQ0NL18",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:RetainedEarningsMember",
"unit": "iso4217:EUR"
}
},
"fact1869": {
"value": "53800000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:ProfitLoss",
"entity": "scheme:529900197LKWCEQ0NL18",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:EquityAttributableToOwnersOfParentMember",
"unit": "iso4217:EUR"
}
},
"fact1870": {
"value": "57300000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:ComprehensiveIncome",
"entity": "scheme:529900197LKWCEQ0NL18",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:EquityAttributableToOwnersOfParentMember",
"unit": "iso4217:EUR"
}
},
"fact1606": {
"value": "62400000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:ProfitLoss",
"entity": "scheme:529900197LKWCEQ0NL18",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"fact1629": {
"value": "65900000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:ComprehensiveIncome",
"entity": "scheme:529900197LKWCEQ0NL18",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"fact1883": {
"value": "39000000",
"decimals": -6,
"dimensions": {
"concept": "ifrs-full:ComprehensiveIncome",
"entity": "scheme:529900197LKWCEQ0NL18",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:ReserveOfCashFlowHedgesMember",
"unit": "iso4217:EUR"
}
},
"fact1889": {
"value": "1300000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:ComprehensiveIncome",
"entity": "scheme:529900197LKWCEQ0NL18",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "nkt:CostsOfHedgingReserveMember",
"unit": "iso4217:EUR"
}
},
"fact1884": {
"value": "-106500000",
"decimals": -5,
"dimensions": {
"concept": "nkt:DeferredHedgeGainsAndLossesTransferredToInventory",
"entity": "scheme:529900197LKWCEQ0NL18",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:ReserveOfCashFlowHedgesMember",
"unit": "iso4217:EUR"
}
},
"fact1885": {
"value": "-31100000",
"decimals": -5,
"dimensions": {
"concept": "nkt:TaxOnDeferredHedgeGainsAndLossesTransferredToInventory",
"entity": "scheme:529900197LKWCEQ0NL18",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:ReserveOfCashFlowHedgesMember",
"unit": "iso4217:EUR"
}
},
"fact1890": {
"value": "2900000",
"decimals": -5,
"dimensions": {
"concept": "nkt:DeferredHedgeGainsAndLossesTransferredToInventory",
"entity": "scheme:529900197LKWCEQ0NL18",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "nkt:CostsOfHedgingReserveMember",
"unit": "iso4217:EUR"
}
},
"fact1871": {
"value": "-103600000",
"decimals": -5,
"dimensions": {
"concept": "nkt:DeferredHedgeGainsAndLossesTransferredToInventory",
"entity": "scheme:529900197LKWCEQ0NL18",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:EquityAttributableToOwnersOfParentMember",
"unit": "iso4217:EUR"
}
},
"fact1872": {
"value": "-30400000",
"decimals": -5,
"dimensions": {
"concept": "nkt:TaxOnDeferredHedgeGainsAndLossesTransferredToInventory",
"entity": "scheme:529900197LKWCEQ0NL18",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:EquityAttributableToOwnersOfParentMember",
"unit": "iso4217:EUR"
}
},
"fact1664": {
"value": "-103600000",
"decimals": -5,
"dimensions": {
"concept": "nkt:DeferredHedgeGainsAndLossesTransferredToInventory",
"entity": "scheme:529900197LKWCEQ0NL18",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"fact1665": {
"value": "-30400000",
"decimals": -5,
"dimensions": {
"concept": "nkt:TaxOnDeferredHedgeGainsAndLossesTransferredToInventory",
"entity": "scheme:529900197LKWCEQ0NL18",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"fact1891": {
"value": "700000",
"decimals": -5,
"dimensions": {
"concept": "nkt:TaxOnDeferredHedgeGainsAndLossesTransferredToInventory",
"entity": "scheme:529900197LKWCEQ0NL18",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "nkt:CostsOfHedgingReserveMember",
"unit": "iso4217:EUR"
}
},
"fact1904": {
"value": "2500000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:PurchaseOfTreasuryShares",
"entity": "scheme:529900197LKWCEQ0NL18",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:TreasurySharesMember",
"unit": "iso4217:EUR"
}
},
"fact1905": {
"value": "-1600000",
"decimals": -5,
"dimensions": {
"concept": "nkt:ExerciseOfPerformanceShares",
"entity": "scheme:529900197LKWCEQ0NL18",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:TreasurySharesMember",
"unit": "iso4217:EUR"
}
},
"fact1873": {
"value": "2500000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:PurchaseOfTreasuryShares",
"entity": "scheme:529900197LKWCEQ0NL18",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:EquityAttributableToOwnersOfParentMember",
"unit": "iso4217:EUR"
}
},
"fact1874": {
"value": "0",
"decimals": -6,
"dimensions": {
"concept": "nkt:ExerciseOfPerformanceShares",
"entity": "scheme:529900197LKWCEQ0NL18",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:EquityAttributableToOwnersOfParentMember",
"unit": "iso4217:EUR"
}
},
"fact1875": {
"value": "2700000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:IncreaseDecreaseThroughSharebasedPaymentTransactions",
"entity": "scheme:529900197LKWCEQ0NL18",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:EquityAttributableToOwnersOfParentMember",
"unit": "iso4217:EUR"
}
},
"fact1666": {
"value": "2500000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:PurchaseOfTreasuryShares",
"entity": "scheme:529900197LKWCEQ0NL18",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"fact1667": {
"value": "0",
"decimals": -6,
"dimensions": {
"concept": "nkt:ExerciseOfPerformanceShares",
"entity": "scheme:529900197LKWCEQ0NL18",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"fact1897": {
"value": "1600000",
"decimals": -5,
"dimensions": {
"concept": "nkt:ExerciseOfPerformanceShares",
"entity": "scheme:529900197LKWCEQ0NL18",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:RetainedEarningsMember",
"unit": "iso4217:EUR"
}
},
"fact1898": {
"value": "2700000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:IncreaseDecreaseThroughSharebasedPaymentTransactions",
"entity": "scheme:529900197LKWCEQ0NL18",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:RetainedEarningsMember",
"unit": "iso4217:EUR"
}
},
"fact1668": {
"value": "2700000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:IncreaseDecreaseThroughSharebasedPaymentTransactions",
"entity": "scheme:529900197LKWCEQ0NL18",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"fact1876": {
"value": "0",
"decimals": -6,
"dimensions": {
"concept": "nkt:CouponPaymentsHybridCapital",
"entity": "scheme:529900197LKWCEQ0NL18",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:EquityAttributableToOwnersOfParentMember",
"unit": "iso4217:EUR"
}
},
"fact1877": {
"value": "-1600000",
"decimals": -5,
"dimensions": {
"concept": "nkt:IssueOfHybridCapital",
"entity": "scheme:529900197LKWCEQ0NL18",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:EquityAttributableToOwnersOfParentMember",
"unit": "iso4217:EUR"
}
},
"fact1911": {
"value": "-7400000",
"decimals": -5,
"dimensions": {
"concept": "nkt:CouponPaymentsHybridCapital",
"entity": "scheme:529900197LKWCEQ0NL18",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "nkt:HybridCapitalMember",
"unit": "iso4217:EUR"
}
},
"fact1912": {
"value": "150000000",
"decimals": -6,
"dimensions": {
"concept": "nkt:IssueOfHybridCapital",
"entity": "scheme:529900197LKWCEQ0NL18",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "nkt:HybridCapitalMember",
"unit": "iso4217:EUR"
}
},
"fact1669": {
"value": "-7400000",
"decimals": -5,
"dimensions": {
"concept": "nkt:CouponPaymentsHybridCapital",
"entity": "scheme:529900197LKWCEQ0NL18",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"fact1899": {
"value": "-1600000",
"decimals": -5,
"dimensions": {
"concept": "nkt:IssueOfHybridCapital",
"entity": "scheme:529900197LKWCEQ0NL18",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:RetainedEarningsMember",
"unit": "iso4217:EUR"
}
},
"fact1670": {
"value": "148400000",
"decimals": -5,
"dimensions": {
"concept": "nkt:IssueOfHybridCapital",
"entity": "scheme:529900197LKWCEQ0NL18",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"fact1914": {
"value": "-900000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:Equity",
"entity": "scheme:529900197LKWCEQ0NL18",
"period": "2023-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:TreasurySharesMember",
"unit": "iso4217:EUR"
}
},
"fact1918": {
"value": "300000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:Equity",
"entity": "scheme:529900197LKWCEQ0NL18",
"period": "2023-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "nkt:FairValueReserveMember",
"unit": "iso4217:EUR"
}
},
"fact1913": {
"value": "115400000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:Equity",
"entity": "scheme:529900197LKWCEQ0NL18",
"period": "2023-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:IssuedCapitalMember",
"unit": "iso4217:EUR"
}
},
"fact1915": {
"value": "-63400000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:Equity",
"entity": "scheme:529900197LKWCEQ0NL18",
"period": "2023-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:ReserveOfExchangeDifferencesOnTranslationMember",
"unit": "iso4217:EUR"
}
},
"fact1916": {
"value": "145600000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:Equity",
"entity": "scheme:529900197LKWCEQ0NL18",
"period": "2023-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:ReserveOfCashFlowHedgesMember",
"unit": "iso4217:EUR"
}
},
"fact1917": {
"value": "-12700000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:Equity",
"entity": "scheme:529900197LKWCEQ0NL18",
"period": "2023-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "nkt:CostsOfHedgingReserveMember",
"unit": "iso4217:EUR"
}
},
"fact1919": {
"value": "805900000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:Equity",
"entity": "scheme:529900197LKWCEQ0NL18",
"period": "2023-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:RetainedEarningsMember",
"unit": "iso4217:EUR"
}
},
"fact1920": {
"value": "990200000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:Equity",
"entity": "scheme:529900197LKWCEQ0NL18",
"period": "2023-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:EquityAttributableToOwnersOfParentMember",
"unit": "iso4217:EUR"
}
},
"fact1921": {
"value": "153600000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:Equity",
"entity": "scheme:529900197LKWCEQ0NL18",
"period": "2023-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "nkt:HybridCapitalMember",
"unit": "iso4217:EUR"
}
},
"fact1753": {
"value": "1143800000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:Equity",
"entity": "scheme:529900197LKWCEQ0NL18",
"period": "2023-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"fact1960": {
"value": "1.1 Material
Accounting Policy Information \u00a0
Introduction \u00a0
The 2023 Annual Report for NKT Group, comprising both \u00a0
the consolidated financial statements for NKT A/S and its \u00a0
subsidiaries (NKT Group) as well as the separate financial \u00a0
statements for the parent company, has been prepared in \u00a0
accordance with IFRS Accounting Standards, as adopted \u00a0
by the EU and additional Danish disclosure requirements \u00a0
for annual reports for listed companies. \u00a0
The Annual Report has been approved by the Board of \u00a0
Directors and Executive Management on 21 February \u00a0
2024, and will be presented for approval by the share- \u00a0
holders at the Annual General Meeting on 20 March 2024. \u00a0
Basis for preparation \u00a0
The Annual Report is presented in EUR rounded to the \u00a0
nearest EUR 1,000,000 with one decimal. The Annual \u00a0
Report is prepared according to the historical cost prin- \u00a0
ciple with the exception that derivatives and financial \u00a0
instruments, classified as fair value through profit loss \u00a0
(FVTPL), are measured at fair value. \u00a0
The accounting policies described below and in the \u00a0
individual sections have been applied consistently \u00a0
during the financial year and for the comparative \u00a0
figures. For standards implemented prospectively the \u00a0
comparative figures have not been restated. \u00a0
Principles of consolidation \u00a0
The consolidated financial statements comprise the \u00a0
financial statements of the parent company (NKT A/S) \u00a0
and the individual subsidiaries\u2019 financial statements \u00a0
prepared according to NKT Group\u2019s accounting poli- \u00a0
cies. Subsidiaries are fully consolidated from the date \u00a0
of acquisition, being the date on which NKT obtains \u00a0
control, until the date that such control ceases. \u00a0
All intercompany balances, income and expenses, \u00a0
unrealized gains and losses and dividends resulting \u00a0
from intercompany transactions are eliminated in full. \u00a0
Foreign currency translation \u00a0
Transactions in foreign currencies are initially recog- \u00a0
nized in the Group entities at their respective functional \u00a0
currency rates prevailing at the date of the transaction. \u00a0
Monetary assets and liabilities denominated in foreign \u00a0
currencies are translated at the functional currency spot \u00a0
rate at the reporting date. All adjustments are recog- \u00a0
nized in the income statement. \u00a0
Non-monetary items that are measured at historical \u00a0
cost in a foreign currency are translated using the \u00a0
exchange rates at the dates of the initial transactions. \u00a0
Non-monetary items measured at fair value in a foreign \u00a0
currency are translated using the exchange rates at the \u00a0
date, when the fair value is determined. \u00a0
The assets and liabilities of foreign subsidiaries are trans- \u00a0
lated into EUR at the rate of exchange prevailing at the \u00a0
reporting date, and their income statements are translated \u00a0
at average exchange rates. Exchange rate adjustments \u00a0
arising on translation are recognized in other compre- \u00a0
hensive income. On disposal of a foreign operation, the \u00a0
component of other comprehensive income relating to \u00a0
that operation is recognized in the income statement. \u00a0
Alternative performance measures (APMs) \u00a0
The consolidated financial statement includes financial \u00a0
performance measures that are not defined according \u00a0
to IFRS Accounting Standards. \u00a0
These measures are considered to provide valuable \u00a0
information to stakeholders and Management. Since \u00a0
Reporting under the ESEF regulation \u00a0
The Commission Delegated Regulation (EU) 2019/815 \u00a0
on the European Single Electronic Format (ESEF Regu- \u00a0
lation) has introduced a single electronic reporting \u00a0
format for the annual financial statements of issuers \u00a0
with securities listed on the EU regulated markets. \u00a0
The applied tagging by the Group has been prepared \u00a0
in accordance with the ESEF taxonomy included in \u00a0
the ESEF regulation and developed based on the \u00a0
IFRS taxonomy published by the IFRS Foundation. \u00a0
The Annual Report submitted to the Danish Financial \u00a0
Supervisory Authority consists of the XHTML document \u00a0
together with the technical files included in the ZIP file \u00a0
nkt-2023-12-31-en.zip. \u00a0
Accounting policy \u00a0
Apart from the more general acounting policy items \u00a0
presented above, specific accounting policies are \u00a0
included in the sections to which they relate in order to \u00a0
facilitate a better understanding of the contents and the \u00a0
accounting treatment applied. \u00a0
other companies might calculate these differently from \u00a0
NKT Group, they may not be comparable to the meas- \u00a0
ures applied by NKT Group. These financial measures \u00a0
should therefore not be considered a replacement \u00a0
for performance measures as defined under IFRS \u00a0
Accounting Standards, but rather as supplementary \u00a0
information. Alternative performance measures are \u00a0
defined in note 7.4 in more detail and some are recon- \u00a0
ciled to IFRS measures in note 2.1. \u00a0
1.2 Implementation
of new \u00a0
and amended accounting \u00a0
standards and interpretations \u00a0
New standards, interpretations and amendments \u00a0
adopted by NKT Group \u00a0
As of 1 January 2023, NKT Group adopted all relevant \u00a0
new or revised IFRS Accounting Standards and IFRIC \u00a0
Interpretations with effective date 1 January 2023 or \u00a0
earlier. \u00a0
The new or revised standards and interpretations did \u00a0
not affect recognition and measurement materially nor \u00a0
did they result in any material changes to disclosures \u00a0
in the notes. \u00a0
Apart from this, the annual report is presented in \u00a0
accordance with the accounting policies applied in \u00a0
previous years\u2019 annual reports. However, a few reclas- \u00a0
sifications in the comparative figures for 2022 have \u00a0
been made. \u00a0
New standards, interpretations and amendments \u00a0
not yet adopted by NKT Group \u00a0
IASB has issued a number of new or amended \u00a0
accounting standards and interpretations, some of \u00a0
which are not yet endorsed by EU, and which are \u00a0
not mandatory for reporting periods ending at 31 \u00a0
December 2023. NKT Group expect to implement \u00a0
these new and amended standards, when they \u00a0
become mandatory. \u00a0
None of the standards and interpretations are \u00a0
expected to have a material impact on the NKT Group. \u00a0
Accounting policy \u00a0
Segment information \u00a0
The segment information is based on internal management reporting and is \u00a0
presented in accordance with the Group\u2019s accounting policies. \u00a0
Segment income and expenses and segment working capital comprise those \u00a0
items that are directly attributable to the individual segment and those items \u00a0
that can be reliably allocated to it. Other items are shown as non-allocated. \u00a0
The reportable segments are generally referred to as business lines. The busi- \u00a0
ness lines consist of Solutions, Applications and Service & Accessories. For \u00a0
further details please refer to the Business review section of each business \u00a0
line in the management review. The Board of Directors assesses the operating \u00a0
results of the business lines separately to enable decisions concerning alloca- \u00a0
tion of resources and measurement of performance. \u00a0
Revenue from Goods and Service are recognized at a point in time and \u00a0
revenue from construction contracts are recognized over time. \u00a0
Inter-segment transactions are performed on market terms. One customer \u00a0
in the Solutions segment comprises more than 10% of the groups total \u00a0
revenue amounting to EUR 390.6m (92.3m in 2022). The geographical \u00a0
disclosure of revenue is based on the country of delivery. \u00a0
Other operating income comprises items of a secondary nature relative to \u00a0
the operations of the Group, including grant schemes, reimbursements and \u00a0
gains on sale of non-current assets, etc. \u00a0
Change in inventories of finished goods and work in progress comprises \u00a0
changes in these items which correspond to staff costs and other costs \u00a0
charged to the income statement during the year and which relate directly or \u00a0
indirectly to the cost of the items stated in the balance sheet. \u00a0
Work performed by the Group and capitalized comprises income which \u00a0
corresponds to staff costs and other costs charged to the income state- \u00a0
ment during the year and which relate directly or indirectly to the capitalized \u00a0
cost of non-current assets of own manufacture. \u00a0
Raw materials, consumables and goods for resale \u00a0
Costs of raw materials, consumables and goods for resale refer to \u00a0
purchases and changes during the year in inventory levels, including \u00a0
shrinkage, waste production and any write-downs for obsolescence. \u00a0
Other costs comprise external costs relating to production, sale and \u00a0
administration, as well as losses on disposal of tangible and intangible \u00a0
assets. Write-downs of receivables from sales are also included. \u00a0
Revenue \u00a0
Revenue from construction contracts with customers with a high degree of \u00a0
individual customization and no alternative use, are recognized as revenue \u00a0
over time, provided that NKT Group has secured an enforceable right to \u00a0
payment for work performed at any time. The revenue therefore corre- \u00a0
sponds to the sales price of work performed during the year (the percent- \u00a0
age-of-completion method). See note 4.4 for further information concerning \u00a0
construction contracts. \u00a0
Revenue from sale of goods for resale and finished goods is recognized \u00a0
in the income statement when control of the goods has transferred to \u00a0
the buyer, normally at delivery, and it is probable that the income will be \u00a0
received. \u00a0
Revenue from services that include service packages and extended \u00a0
warranties relating to products and contracts is recognized over time with \u00a0
the supply of those services. \u00a0
Revenue is measured at the fair value of the expected consideration \u00a0
excluding VAT and taxes charged on behalf of third parties. In determining \u00a0
the transaction price, revenue is reduced by probable penalties and other \u00a0
claims and discounts that are payments to the customers. The transac- \u00a0
tion price is further adjusted for any variable elements of the transaction \u00a0
price. The variable amount is estimated at contract inception and revisited \u00a0
throughout the contract period. Variable income is recognized as revenue \u00a0
when it is highly probable that a significant reversal will not occur. \u00a0
Accounting policy \u00a0
Staff costs comprise wages and salaries, remuneration, pensions, etc., \u00a0
and share-based payment for NKT Group's employees, including Group \u00a0
Management. The Board of Directors does not receive share-based \u00a0
payment. \u00a0
Wages and salaries, social security contributions, leave and sick leave, \u00a0
bonuses and non-monetary benefits are recognized in the financial year in \u00a0
which services are rendered by the employee. When NKT provides long- \u00a0
term employee benefits, the costs are accrued to match the rendering of \u00a0
services. \u00a0
Termination benefits are recognized when an agreement has been reached \u00a0
between NKT and the employee and no future service is rendered by the \u00a0
employee in exchange for the benefits. \u00a0
Accounting policy \u00a0
The share-based payments contain internal performance measures and \u00a0
external market return measures. At the grant date the value of services \u00a0
received in exchange for share-based payments are measured at the fair \u00a0
value. The fair value of share-based payments is estimated using a valu- \u00a0
ation model that takes into account the terms and conditions upon which \u00a0
granting took place. During the vesting period, the costs related to the \u00a0
plans are recognized as staff costs and an equal amount is recognized in \u00a0
equity. For the internal performance targets, costs are recognized over the \u00a0
vesting period based on the number of shares expected to vest, whereas \u00a0
for the market return elements, costs are recognized over the vesting \u00a0
period disregarding any changes in the number of shares expected to vest. \u00a0
Accounting policy \u00a0
Research costs are expensed in the income statement as they occur. \u00a0
Clearly defined and identifiable development projects are recognized as \u00a0
intangible assets provided that the following requirements are met: The \u00a0
technical feasibility, adequacy of resources and a potential future market \u00a0
can be demonstrated, it is intended to manufacture, market or utilize \u00a0
the project, the cost can be reliably determined, and there is reason- \u00a0
able certainty that the future earnings or net selling prices can cover the \u00a0
carrying amount as well as the development costs necessary to finalize \u00a0
the project. Other development costs are expensed in the income state- \u00a0
ment as incurred. Capitalized development projects are measured at cost \u00a0
less accumulated amortization and impairment losses. The cost includes \u00a0
wages, amortization and other costs relating to the Group\u2019s development \u00a0
activities. On completion of the development work, development projects \u00a0
are amortized on a straight-line basis over their estimated useful life from \u00a0
the date the asset is available for use. The amortization period is usually \u00a0
3\u201310 years. The amortization base is reduced by any impairment losses. \u00a0
Accounting policy \u00a0
Current income tax \u00a0
Tax for the period, consists of the year\u2019s current tax, change in deferred tax \u00a0
and adjustments related to previous years. Tax for the period is recognized \u00a0
in the income statement including the effect of coupon payments on the \u00a0
hybrid capital. Tax relating to other items is recognized in other comprehen- \u00a0
sive income. \u00a0
Current tax payable and receivable is recognized in the balance sheet as \u00a0
tax estimated on taxable income for the year, adjusted for tax on taxable \u00a0
income for previous years and for tax paid on account. \u00a0
Deferred tax \u00a0
Deferred tax is measured according to the balance sheet liability method \u00a0
on all temporary differences between the carrying amount and the tax base \u00a0
of assets and liabilities. However, deferred tax is not recognised on taxable \u00a0
temporary differences relating to goodwill and on temporary differences \u00a0
arising on the initial recognition of an asset and liability which affects neither \u00a0
accounting profit nor taxable income and does not result in a deductible \u00a0
and taxable temporary difference of the same amount. Where alternative \u00a0
taxation rules can be applied to determine the tax base, deferred tax is \u00a0
measured according to Group Management\u2019s planned use of the assets or \u00a0
settlement of the liabilities, respectively. \u00a0
Deferred tax assets, including the tax base of tax losses allowed for carry \u00a0
forward, are recognized at their expected utilization value within the fore- \u00a0
seeable future. \u00a0
Deferred tax assets and tax liabilities are offset if the company has a legal \u00a0
right to offset current tax assets and liabilities and intends to settle current \u00a0
tax assets and liabilities on a net basis or to realize the assets and liabilities \u00a0
simultaneously. \u00a0
Accounting policy \u00a0
Goodwill is initially recognized in the balance sheet at \u00a0
cost. Subsequently, goodwill is measured at cost less \u00a0
accumulated impairment losses and is not amortized. \u00a0
The carrying amount of goodwill is allocated to NKT \u00a0
Group\u2019s cash-generating units at the acquisition date. \u00a0
Cash-generating units is based on the managerial \u00a0
structure and internal financial control. As a result \u00a0
of the integration of acquisitions in the existing NKT \u00a0
Group, and identification of operating segments \u00a0
based on the presence of segment managers, Group \u00a0
Management finds that the smallest cash-generating \u00a0
units to which the carrying amount of goodwill can be \u00a0
allocated during testing for impairment are identical to \u00a0
the reportable segments. \u00a0
Other intangible assets, which includes IT software, \u00a0
trademarks, patents and licences, are measured at \u00a0
cost less accumulated amortization and impairment \u00a0
losses and are amortized on a straight-line basis over \u00a0
the remaining patent or contract period or the useful \u00a0
life, whichever is the shorter. \u00a0
Expected useful life is determined as follow: \u00a0
Trademarks, patents and licences, etc. \u00a0
3-15 years \u00a0
IT software \u00a0
3-8 years \u00a0
Completed development projects \u00a0
2-8 years \u00a0
Intangible assets under development consists of \u00a0
clearly defined and identifiable development projects \u00a0
where the following requirements are met: The tech- \u00a0
nical feasibility, adequacy of resources and a potential \u00a0
future market can be demonstrated, it is intended to \u00a0
manufacture, market or utilize the project, the cost \u00a0
can be reliably determined, and there is reason- \u00a0
able certainty that the future earnings or net selling \u00a0
prices can cover the carrying amount as well as the \u00a0
development costs necessary to finalize the project. \u00a0
as incurred. Intangible assets under development \u00a0
are measured at cost less accumulated impairment \u00a0
losses. The cost includes wages, amortization and \u00a0
other costs relating to the Group\u2019s development \u00a0
activities. On completion the development work is \u00a0
transferred to Development projects completed or IT \u00a0
software. \u00a0
Accounting policy \u00a0
Contracts relating to leased equipment are usually \u00a0
made for a fixed period, whereas lease contracts for \u00a0
buildings and land in some instances include an option \u00a0
to extend the lease. When assessing the life of the \u00a0
leases, NKT considers the non-cancellable lease term \u00a0
and options to extend the lease where it is reasonably \u00a0
certain to extend. The lease period of offices and sales \u00a0
buildings are assessed to be approximately 3-10 years, \u00a0
for production facilities 5-10 years and for land up to \u00a0
20 years. For other assets the lease term is equal to \u00a0
the non-cancelable lease period and extensions are \u00a0
not considered. The right-of-use asset is depreciated \u00a0
over the shorter of the asset\u2019s useful life and the lease \u00a0
term on a straight-line basis. \u00a0
Payments related to short-term leases and leases \u00a0
of low-value assets continue to be recognized on \u00a0
a straight-line basis as an expense in the income \u00a0
statement. Low-value assets mainly comprise minor \u00a0
buildings, cars, forklifts, IT-equipment and other office \u00a0
equipment. \u00a0
NKT Group has no leases where the rent is variable \u00a0
depending on revenue, etc. Some contracts are \u00a0
exposed to future increases in variable lease payments \u00a0
based on an index or rate, which are included in the \u00a0
lease liability when they take effect. \u00a0
Property, plant and equipment are measured at cost \u00a0
less accumulated depreciation and impairment losses. \u00a0
Accounting policy \u00a0
The cost comprises the purchase price and any costs directly attributable \u00a0
to the acquisition. The cost of self-constructed assets comprises costs of \u00a0
materials, components, subcontractors and wages. The cost is supple- \u00a0
mented by the present value of estimated liabilities related to dismantling \u00a0
and removing the asset and restoring the site on which the asset was \u00a0
utilized. \u00a0
Subsequent costs, e.g. relating to replacement of parts of an item of prop- \u00a0
erty, plant and equipment, are recognized in the carrying amount of the \u00a0
asset if it is likely that the costs will result in future economic benefits for \u00a0
the Group. All other costs relating to ordinary repair and maintenance are \u00a0
recognized in the income statement as incurred. \u00a0
Depreciation is done on a straight-line basis over the expected useful life of \u00a0
the assets, as follows: \u00a0
Buildings \u00a0
10 \u2013 50 years \u00a0
Manufacturing plant and machinery \u00a0
4 \u2013 20 years \u00a0
Fixtures, fittings, tools and equipment \u00a0
3 \u2013 15 years \u00a0
Vessel \u00a0
20 years \u00a0
Land is not depreciated \u00a0
If individual parts of an item of property, plant and equipment have different \u00a0
useful lives, they are depreciated separately. \u00a0
The basis of depreciation is calculated according to the residual value less \u00a0
impairment losses. The residual value is determined at the acquisition date \u00a0
and reviewed annually. If the residual value exceeds the carrying amount, \u00a0
depreciation is discontinued. \u00a0
Accounting policy \u00a0
Goodwill, intangible assets with indefinite useful lives and development \u00a0
projects are tested at least annually for impairment, and furthermore when a \u00a0
trigger event occurs. \u00a0
The carrying amount of goodwill is tested for impairment together with the \u00a0
other non-current assets in the cash-generating unit to which goodwill is allo- \u00a0
cated. The recoverable amount is generally computed as the present value of \u00a0
the expected future net cash flows from the business or activity (cash-gener- \u00a0
ating unit) to which goodwill is allocated. \u00a0
Other non-current assets \u00a0
The carrying amount of other non-current assets is tested when a trigger \u00a0
event occurs which could indicate an impairment, in which case, the recov- \u00a0
erable amount of the asset is determined. The recoverable amount is the fair \u00a0
value of the asset less anticipated cost of disposal, or its value-in-use, which- \u00a0
ever is the higher. \u00a0
The value-in-use is calculated as the present value of expected future cash \u00a0
flows from the asset or the cash-generating unit of which the asset is part. \u00a0
Recognition of impairment loss in the income statement \u00a0
Impairment is recognized if the carrying amount of an asset or a cash-gen- \u00a0
erating unit exceeds the respective recoverable amount. The impairment is \u00a0
recognized in the income statement and impairment of goodwill is recognized \u00a0
in a separate line item in the income statement. \u00a0
Impairment of goodwill is not reversed. Impairment of other assets is reversed \u00a0
in the event of changes having taken place in the conditions and estimates on \u00a0
which the impairment calculation was based. Impairment is only reversed if \u00a0
the new carrying amount of the asset does not exceed the carrying amount \u00a0
that would have applied after amortization if the asset had not been impaired. \u00a0
Accounting policy \u00a0
The provisions recognized are Management\u2019s best estimate of the amount \u00a0
required to settle the obligation. Warranty provisions are recognized in \u00a0
connection with the sale of goods and services based on the level of \u00a0
warranty expenses incurred in previous years. Restructuring costs are \u00a0
recognized under liabilities when a detailed, formal restructuring plan is \u00a0
announced to the affected parties on or before the balance sheet date. A \u00a0
provision for onerous contracts is recognized when the expected benefits \u00a0
to be derived by the Group from a contract are lower than the Group\u2019s \u00a0
unavoidable costs for meeting its contractual obligations. Provisions for \u00a0
dismantling are measured at the present value of the expected cost at the \u00a0
balance sheet date. The present value of the costs is included in the cost \u00a0
of the relevant tangible assets and depreciated accordingly. The addition \u00a0
of interests on provisions are recognized in the income statement under \u00a0
financial expenses. \u00a0
For the Group\u2019s defined benefit plans, an annual actuarial calculation \u00a0
(the Projected Unit Credit Method) of the present value of future benefits \u00a0
payable under the plan is provided. The present value is determined based \u00a0
on assumptions about the future development in variables such as salary \u00a0
levels, interest rates, inflation and mortality. The present value is determined \u00a0
only for benefits earned by employees from their employment within the \u00a0
Group. The actuarial present value less the fair value of any plan assets is \u00a0
recognized in the balance sheet under pension liabilities. \u00a0
Pension expenses and other long-term employee benefits are recognized \u00a0
in the income statement based on actuarial estimates and financial expec- \u00a0
tations at the start of the year. Actuarial gains or losses are recognized in \u00a0
other comprehensive income. \u00a0
If a pension plan constitutes a net asset, the asset is only recognized if it \u00a0
offsets cumulative actuarial losses or future refunds from the plan, or if it will \u00a0
lead to reduced future payments to the plan. \u00a0
Accounting policy \u00a0
Inventories are measured at cost in accordance with the FIFO method or at \u00a0
a weighted average. If the net realizable value is lower than cost, inventories \u00a0
are written down to this lower value. \u00a0
Raw materials, consumables and goods for resale are measured at cost, \u00a0
comprising purchase price plus delivery costs. \u00a0
Finished goods and work in progress are measured at cost, comprising \u00a0
direct costs and production overheads. \u00a0
Accounting policy \u00a0
Trade receivables are at initial recognition measured at their transaction \u00a0
price less allowance for expected credit losses over the lifetime and are \u00a0
subsequently measured at amortized cost adjusted for changes to the \u00a0
expected credit losses. Expected credit losses at initial recognition are \u00a0
calculated for portfolios of receivables that share credit risk characteristics \u00a0
and is based on historical experience and, when applicable, adjusted for \u00a0
factors that are specific to the debtors and general economic conditions. \u00a0
The portfolios are primarily based on the debtor\u2019s domicile and credit \u00a0
rating in accordance with NKT Groups credit risk management policy, see \u00a0
Section 5.6. \u00a0
When there is an indication of impairment, expected credit losses are \u00a0
calculated at individual level and when there are no reasonable expecta- \u00a0
tions of recovering, the receivable is written off in part or entirely. \u00a0
The allowances for expected credit losses and write-offs for trade receiva- \u00a0
bles are recognized in the income statement as Other costs. \u00a0
Accounting policy \u00a0
Construction contracts \u00a0
Construction contracts are measured at the selling price of the work \u00a0
performed less progress billings and anticipated losses. If the value of work \u00a0
performed exceeds progress billings, the excess is recognized as contract \u00a0
assets. and if progress billings exceed the value of work performed, the \u00a0
deficit is recognized as contract liabilities. Prepayments from customers are \u00a0
recognized under contract liabilities. \u00a0
Construction contracts are characterized by a high degree of customization \u00a0
in the design of the cables produced. It is furthermore a requirement that \u00a0
before commencement of the work, a binding contract is signed that will \u00a0
result in a fine or compensation in case of subsequent cancellation. The \u00a0
contract value is measured according to the percentage-of-completion, \u00a0
which is determined on the basis of an assessment of the work performed, \u00a0
calculated as the ratio of expenses incurred compared to total anticipated \u00a0
expenses on the contract concerned. When it is probable that the total \u00a0
contract costs will exceed the total contract revenue, the anticipated loss \u00a0
on the contract is immediately recognized as a provision. \u00a0
When income and expenses on a construction contract cannot be deter- \u00a0
mined reliably, the contract value is measured as the costs incurred which \u00a0
are likely to be recoverable. \u00a0
Accounting policy \u00a0
Dividend is recognized as a liability at the date of adoption at the Annual \u00a0
General Meeting (declaration date). Proposed dividend payments for the \u00a0
year are disclosed as a separate item under equity. Interim dividend is \u00a0
recognized as a liability at the date when the decision to pay such dividend \u00a0
is made. \u00a0
Acquisition costs, consideration received, and dividends relating to treasury \u00a0
shares, are recognized directly in retained comprehensive income in equity. \u00a0
Accounting policy \u00a0
Hybrid capital is treated in accordance with the rules on compound finan- \u00a0
cial instruments based on the characteristics of the bonds. The notional \u00a0
amount, which constitutes a liability, is recognized at present value, and \u00a0
equity has been increased by the difference between the net proceeds \u00a0
received and the present value of the discounted liability. The part of the \u00a0
hybrid capital that is accounted for as a liability is measured at amortized \u00a0
cost. The carrying amount is zero on initial recognition and due to the \u00a0
1,000-year term of the hybrid capital, amortization charges will only have an \u00a0
impact on the income statement for the years at the end of the 1,000-year \u00a0
term of the hybrid capital. \u00a0
Coupon payments are accounted for as dividends and are recognized \u00a0
directly in equity when the obligation to pay arises. \u00a0
The obligation to pay coupon payments is at the discretion of Group \u00a0
Management and deferred coupon lapses upon maturity of the hybrid \u00a0
capital. Coupon payments are recognized in the statement of cash flows in \u00a0
the same way as dividend payments within financing activities. \u00a0
On redemption of the hybrid capital, the payment will be distributed \u00a0
between liability and equity, applying the same principles as used when \u00a0
the hybrid capital was issued. The difference between the payment on \u00a0
redemption and the net proceeds received on issue is recognized directly in \u00a0
equity as the debt portion of the existing hybrid issues will be nil during the \u00a0
first part of the life of the hybrid capital. \u00a0
On the date on which the Board of Directors decides to exercise an option \u00a0
to redeem the hybrid capital, the part of the hybrid capital that will be \u00a0
redeemed will be reclassified to loans and borrowings. The reclassifica- \u00a0
tion will be made at the market value of the hybrid capital at the date the \u00a0
decision is made. Following the reclassification, coupon payments and \u00a0
exchange rate adjustments will be recognized in the income statement as \u00a0
financial income or expenses. \u00a0
Accounting policy \u00a0
Interest-bearing loans and borrowings are recognized at the amount of \u00a0
proceeds received at the date of borrowing, net of transaction costs paid. \u00a0
In subsequent periods the financial liabilities are measured at amortized \u00a0
cost using \u2018the effective interest method\u2019, and the difference between \u00a0
the proceeds and the nominal value is therefore being recognized in the \u00a0
income statement under financial expenses over the term of the loan. \u00a0
Interest-bearing loans and borrowings also include the capitalized residual \u00a0
lease obligations on finance leases measured at amortized cost. \u00a0
Accounting policy \u00a0
Changes in market values of currency and interest rate derivatives not \u00a0
entered into with the purpose of hedging an exposure, are recognized in \u00a0
financial income or expenses respectively. \u00a0
Accounting policy \u00a0
NKT mainly apply hedge accounting for financial \u00a0
instruments related to currency, raw materials as well \u00a0
as interest rates for loans. The hedges normally hedge \u00a0
the risk one-to-one with the hedged item. Only gas-oil \u00a0
hedges for the hedging of the price risk of plastic differs \u00a0
from this principle, as Group Treasury here determine \u00a0
the ratio necessary to hedge the price risk for plastic. \u00a0
The Group designates the share of the fair value of a \u00a0
forward contract that is related to cash price for metals \u00a0
and spot price for FX hedges (i.e. excluding the forward \u00a0
elements) as the hedging instrument for all of its hedging \u00a0
relationships involving forward contracts. In accordance \u00a0
with the cost of hedging principle all fair values related \u00a0
to the forward element of the hedging contract is recog- \u00a0
nized in other comprehensive income and accumulated \u00a0
in the cost of hedging reserve. As the hedged items are \u00a0
transaction-related, the forward element is reclassified to \u00a0
the profit or loss when the hedged item affects profit or \u00a0
loss, and in the same line item as the hedged item. \u00a0
Fair value changes for cash flow hedges considered \u00a0
effective, are recognized in other comprehensive income \u00a0
in the hedging reserve. For each reporting date, effec- \u00a0
tiveness is considered and if the future cash flows are no \u00a0
longer expected to materialize, the accumulated value \u00a0
reported in the hedge reserve is reclassified to financial \u00a0
items in the income statement. In all other cases the \u00a0
accumulated value is reclassified to the income state- \u00a0
ment in the same line as the hedged item. \u00a0
Accounting policy \u00a0
Fair value changes of financial instruments used to \u00a0
hedge the change in fair value of an asset or liability is \u00a0
recorded in the income statement in the same line item \u00a0
as the changes in value of the hedged asset or liability \u00a0
is recognized in. \u00a0
Hedging of currency risk is not performed for net \u00a0
assets (equity) in foreign subsidiaries. Gains and losses \u00a0
relating to unhedged net assets in foreign subsidiaries \u00a0
are accounted for directly in other comprehensive \u00a0
income. \u00a0
Accounting policy \u00a0
Discontinued operations represent a separate major line of businesses \u00a0
intended to be disposed within 12 months. The results of discontinued \u00a0
operations are presented separately in the income statement and the cash \u00a0
flow statement with restatement of comparative figures. \u00a0
Assets and liabilities held for sale from discontinued operations are \u00a0
presented as separate items in the balance sheet with no restatement of \u00a0
comparative figures. Elimination between continuing and discontinued \u00a0
operations is presented to reflect continuing operations as post-separation, \u00a0
which includes elimination of interest and loans. \u00a0
Assets and liabilities from discontinued operations and assets held for sale \u00a0
are measured at the lower of carrying amount and fair value less cost of \u00a0
disposal. Impairment test is performed immediately before classification \u00a0
as held for sale. Non-current assets held for sale are not depreciated or \u00a0
amortized. \u00a0
7.4 Definitions \u00a0
The Group operates with the following performance measures which are \u00a0
calculated in accordance with the Danish Finance Society\u2019s guidelines: \u00a0
Performance measures defined by IFRS: \u00a0
1. Earnings, EUR per outstanding share (EPS) \u2013 Earnings attributable \u00a0
to equity holders of NKT A/S relative to average number of outstanding \u00a0
shares. \u00a0
2. Diluted earnings, EUR per outstanding share (EPS) \u2013 Earnings \u00a0
attributable to equity holders of NKT A/S relative to average number of \u00a0
outstanding shares, including the dilutive effect of outstanding share \u00a0
programmes. \u00a0
Further the group presents the following performance measures not \u00a0
defined according to IFRS (non-GAAP measures) in the Annual Report: \u00a0
3. Revenue at standard metal prices \u2013 Revenue at standard metal \u00a0
prices for copper and aluminium is set at EUR/tonne 1,550 and EUR/ \u00a0
tonne 1,350 respectively. \u00a0
4. Organic growth \u2013 Revenue growth (standard metal price) as a \u00a0
percentage of prior-year adjusted revenue (standard metal price). \u00a0
Organic growth is a measure of growth, excluding the impact of \u00a0
exchange rate adjustments, acquisitions and divestments. \u00a0
5. One-off items \u2013 Consist of non-recurring income and cost related to \u00a0
acquisitions, divestments, integration, restructuring, severance and \u00a0
other one-time items. \u00a0
6. Operational earnings before interest, tax, depreciation and amor- \u00a0
tization (Operational EBITDA) \u2013 Earnings before interest, tax, depre- \u00a0
ciation and amortization (EBITDA) excluding one-off items. \u00a0
7. Operational earnings before interest and tax (Operational EBIT) \u00a0
\u2013 Earnings before interest and tax excluding one-off items. \u00a0
8. Net interest-bearing debt \u2013 Cash and interest-bearing receivables \u00a0
less interest-bearing debt. Specified in Section 5.4. Hybrid capital is \u00a0
not included in net interest-bearing debt. \u00a0
9. Capital employed \u2013 Group equity plus net interest-bearing debt. \u00a0
10. Working capital \u2013 Current assets minus current liabilities (excluding \u00a0
interest-bearing items and provisions). \u00a0
11. Gearing \u2013 Net interest-bearing debt as a percentage of Group Equity. \u00a0
12. Net interest-bearing debt relative to operational EBITDA \u2013 Calcu- \u00a0
lated as net interest-bearing debt as defined in point 8 relative to oper- \u00a0
ational EBITDA for continuing operations as defined in point 6. \u00a0
13. Solvency ratio (equity as a percentage of total assets) \u2013 Equity \u00a0
including hybrid capital as a percentage of total assets. \u00a0
14. Return on capital employed (RoCE) \u2013 Operational EBIT for contin- \u00a0
uing operations as a percentage of average of the last five quarters of \u00a0
capital employed for continuing operations. \u00a0
15. Equity value, EUR per outstanding share \u2013 Equity attributable to \u00a0
equity holders of NKT A/S per outstanding share at 31 December. Dilu- \u00a0
tion effect of outstanding share programmes is excluded. \u00a0
16. Free cash flow \u2013 Cash flow from operating and investing activities. \u00a0
17. Orders on hand \u2013 Value of the uncompleted work of contracts within \u00a0
the Solutions business line. Contracts are included when they are signed \u00a0
and all signi\ufb01cant conditions which may impact the value of the contracts \u00a0
have been agreed. \u00a0
",
"dimensions": {
"concept": "ifrs-full:DisclosureOfMaterialAccountingPolicyInformationExplanatory",
"language": "en",
"entity": "scheme:529900197LKWCEQ0NL18",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"fact1958": {
"value": "This section provides the overall \u00a0
reporting framework applied \u00a0
in our consolidated financial \u00a0
statements. Specific accounting \u00a0
policies applied are described \u00a0
in the relevant sections, \u00a0
while new and upcomming \u00a0
legislastion is presented in note \u00a0
1.2, and significant estimates \u00a0
and judgements exercised \u00a0
by management as part of \u00a0
the preparation of this Annual \u00a0
Report is described in note 1.3. \u00a0
1.1 Material
Accounting Policy Information \u00a0
Introduction \u00a0
The 2023 Annual Report for NKT Group, comprising both \u00a0
the consolidated financial statements for NKT A/S and its \u00a0
subsidiaries (NKT Group) as well as the separate financial \u00a0
statements for the parent company, has been prepared in \u00a0
accordance with IFRS Accounting Standards, as adopted \u00a0
by the EU and additional Danish disclosure requirements \u00a0
for annual reports for listed companies. \u00a0
The Annual Report has been approved by the Board of \u00a0
Directors and Executive Management on 21 February \u00a0
2024, and will be presented for approval by the share- \u00a0
holders at the Annual General Meeting on 20 March 2024. \u00a0
Basis for preparation \u00a0
The Annual Report is presented in EUR rounded to the \u00a0
nearest EUR 1,000,000 with one decimal. The Annual \u00a0
Report is prepared according to the historical cost prin- \u00a0
ciple with the exception that derivatives and financial \u00a0
instruments, classified as fair value through profit loss \u00a0
(FVTPL), are measured at fair value. \u00a0
The accounting policies described below and in the \u00a0
individual sections have been applied consistently \u00a0
during the financial year and for the comparative \u00a0
figures. For standards implemented prospectively the \u00a0
comparative figures have not been restated. \u00a0
Principles of consolidation \u00a0
The consolidated financial statements comprise the \u00a0
financial statements of the parent company (NKT A/S) \u00a0
and the individual subsidiaries\u2019 financial statements \u00a0
prepared according to NKT Group\u2019s accounting poli- \u00a0
cies. Subsidiaries are fully consolidated from the date \u00a0
of acquisition, being the date on which NKT obtains \u00a0
control, until the date that such control ceases. \u00a0
All intercompany balances, income and expenses, \u00a0
unrealized gains and losses and dividends resulting \u00a0
from intercompany transactions are eliminated in full. \u00a0
Foreign currency translation \u00a0
Transactions in foreign currencies are initially recog- \u00a0
nized in the Group entities at their respective functional \u00a0
currency rates prevailing at the date of the transaction. \u00a0
Monetary assets and liabilities denominated in foreign \u00a0
currencies are translated at the functional currency spot \u00a0
rate at the reporting date. All adjustments are recog- \u00a0
nized in the income statement. \u00a0
Non-monetary items that are measured at historical \u00a0
cost in a foreign currency are translated using the \u00a0
exchange rates at the dates of the initial transactions. \u00a0
Non-monetary items measured at fair value in a foreign \u00a0
currency are translated using the exchange rates at the \u00a0
date, when the fair value is determined. \u00a0
The assets and liabilities of foreign subsidiaries are trans- \u00a0
lated into EUR at the rate of exchange prevailing at the \u00a0
reporting date, and their income statements are translated \u00a0
at average exchange rates. Exchange rate adjustments \u00a0
arising on translation are recognized in other compre- \u00a0
hensive income. On disposal of a foreign operation, the \u00a0
component of other comprehensive income relating to \u00a0
that operation is recognized in the income statement. \u00a0
Alternative performance measures (APMs) \u00a0
The consolidated financial statement includes financial \u00a0
performance measures that are not defined according \u00a0
to IFRS Accounting Standards. \u00a0
These measures are considered to provide valuable \u00a0
information to stakeholders and Management. Since \u00a0
Reporting under the ESEF regulation \u00a0
The Commission Delegated Regulation (EU) 2019/815 \u00a0
on the European Single Electronic Format (ESEF Regu- \u00a0
lation) has introduced a single electronic reporting \u00a0
format for the annual financial statements of issuers \u00a0
with securities listed on the EU regulated markets. \u00a0
The applied tagging by the Group has been prepared \u00a0
in accordance with the ESEF taxonomy included in \u00a0
the ESEF regulation and developed based on the \u00a0
IFRS taxonomy published by the IFRS Foundation. \u00a0
The Annual Report submitted to the Danish Financial \u00a0
Supervisory Authority consists of the XHTML document \u00a0
together with the technical files included in the ZIP file \u00a0
nkt-2023-12-31-en.zip. \u00a0
Accounting policy \u00a0
Apart from the more general acounting policy items \u00a0
presented above, specific accounting policies are \u00a0
included in the sections to which they relate in order to \u00a0
facilitate a better understanding of the contents and the \u00a0
accounting treatment applied. \u00a0
other companies might calculate these differently from \u00a0
NKT Group, they may not be comparable to the meas- \u00a0
ures applied by NKT Group. These financial measures \u00a0
should therefore not be considered a replacement \u00a0
for performance measures as defined under IFRS \u00a0
Accounting Standards, but rather as supplementary \u00a0
information. Alternative performance measures are \u00a0
defined in note 7.4 in more detail and some are recon- \u00a0
ciled to IFRS measures in note 2.1. \u00a0
1.2 Implementation
of new \u00a0
and amended accounting \u00a0
standards and interpretations \u00a0
New standards, interpretations and amendments \u00a0
adopted by NKT Group \u00a0
As of 1 January 2023, NKT Group adopted all relevant \u00a0
new or revised IFRS Accounting Standards and IFRIC \u00a0
Interpretations with effective date 1 January 2023 or \u00a0
earlier. \u00a0
The new or revised standards and interpretations did \u00a0
not affect recognition and measurement materially nor \u00a0
did they result in any material changes to disclosures \u00a0
in the notes. \u00a0
Apart from this, the annual report is presented in \u00a0
accordance with the accounting policies applied in \u00a0
previous years\u2019 annual reports. However, a few reclas- \u00a0
sifications in the comparative figures for 2022 have \u00a0
been made. \u00a0
New standards, interpretations and amendments \u00a0
not yet adopted by NKT Group \u00a0
IASB has issued a number of new or amended \u00a0
accounting standards and interpretations, some of \u00a0
which are not yet endorsed by EU, and which are \u00a0
not mandatory for reporting periods ending at 31 \u00a0
December 2023. NKT Group expect to implement \u00a0
these new and amended standards, when they \u00a0
become mandatory. \u00a0
None of the standards and interpretations are \u00a0
expected to have a material impact on the NKT Group. \u00a0
1.3 Significant
estimates and judgements \u00a0
When preparing this Annual Report, Management has \u00a0
made a number of accounting judgements in applying \u00a0
the accounting policies, which form the basis for the \u00a0
recognition and measurement of assets, liabilities and \u00a0
disclosures provided. Further, Management provides \u00a0
significant estimates regarding future developments. \u00a0
These are regularly reassessed based on historical \u00a0
experience and other factors, which Management \u00a0
assesses to be reliable, but which, by their nature, are \u00a0
associated with uncertainty and unpredictability. \u00a0
Significant estimates and judgements are predomi- \u00a0
nantly applied in relation to the recognition of revenue \u00a0
from construction contracts, impairment of goodwill \u00a0
and assessing the value of deferred tax assets. These \u00a0
assumptions may prove incomplete or incorrect, and \u00a0
unexpected events or circumstances may arise, but \u00a0
the assumptions are considered reasonable and reli- \u00a0
able under the circumstances. \u00a0
From Management perspective the following esti- \u00a0
mates and judgements are considered significant \u00a0
and the applied estimates and judgements are further \u00a0
described in the respective notes. \u00a0
Significant accounting \u00a0
Impact \u00a0
Note \u00a0
estimate and judgement \u00a0
Estimate/ Judgement \u00a0
assessment1 \u00a0
2.1 \u00a0
Segment information and
Determine revenue recognition for \u00a0
Judgement and estimate \u00a0
revenue \u00a0
projects (PoC) \u00a0
4.4 \u00a0
Contract assets and \u00a0
Valuation of construction contracts \u00a0
Estimate \u00a0
liabilities \u00a0
2.5 \u00a0
Tax \u00a0
Valuation of deferred tax assets \u00a0
Judgement and estimate \u00a0
6.3 \u00a0
DIscontinued operations
Judgment of NKT Photonics \u00a0
Judgement \u00a0
divestment approval \u00a0
3.3 \u00a0
Impairment of assets \u00a0
Estimate the value-in-use of intangible
Estimate \u00a0
and tangible long-term assets \u00a0
7.3 \u00a0
Contingent liabilities \u00a0
Determine recognition and \u00a0
Judgement and estimate \u00a0
measurement of obligations \u00a0
1 The numbers of boxes in the above assessment indicate the level of estimates and judgment applied, where five being the highest. \u00a0
Presentation in the notes \u00a0
Significant estimates \u00a0
A description of the Significant judgements and \u00a0
accounting estimates provided by Management are \u00a0
included in the respective sections to which they \u00a0
relate. \u00a0
Sensitivity \u00a0
Sensitivity analyses accompany significant judgements \u00a0
and accounting estimates, and are included in the \u00a0
sections to which they relate. \u00a0
",
"dimensions": {
"concept": "ifrs-full:DisclosureOfBasisOfPreparationOfFinancialStatementsExplanatory",
"language": "en",
"entity": "scheme:529900197LKWCEQ0NL18",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"fact1961": {
"value": "Introduction \u00a0
The 2023 Annual Report for NKT Group, comprising both \u00a0
the consolidated financial statements for NKT A/S and its \u00a0
subsidiaries (NKT Group) as well as the separate financial \u00a0
statements for the parent company, has been prepared in \u00a0
accordance with IFRS Accounting Standards, as adopted \u00a0
by the EU and additional Danish disclosure requirements \u00a0
for annual reports for listed companies. \u00a0
",
"dimensions": {
"concept": "ifrs-full:StatementOfIFRSCompliance",
"language": "en",
"entity": "scheme:529900197LKWCEQ0NL18",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"fact1976": {
"value": "Foreign currency translation \u00a0
Transactions in foreign currencies are initially recog- \u00a0
nized in the Group entities at their respective functional \u00a0
currency rates prevailing at the date of the transaction. \u00a0
Monetary assets and liabilities denominated in foreign \u00a0
currencies are translated at the functional currency spot \u00a0
rate at the reporting date. All adjustments are recog- \u00a0
nized in the income statement. \u00a0
Non-monetary items that are measured at historical \u00a0
cost in a foreign currency are translated using the \u00a0
exchange rates at the dates of the initial transactions. \u00a0
Non-monetary items measured at fair value in a foreign \u00a0
currency are translated using the exchange rates at the \u00a0
date, when the fair value is determined. \u00a0
The assets and liabilities of foreign subsidiaries are trans- \u00a0
lated into EUR at the rate of exchange prevailing at the \u00a0
reporting date, and their income statements are translated \u00a0
at average exchange rates. Exchange rate adjustments \u00a0
arising on translation are recognized in other compre- \u00a0
hensive income. On disposal of a foreign operation, the \u00a0
component of other comprehensive income relating to \u00a0
that operation is recognized in the income statement. \u00a0
",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForForeignCurrencyTranslationExplanatory",
"language": "en",
"entity": "scheme:529900197LKWCEQ0NL18",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"fact1965": {
"value": "The Annual Report has been approved by the Board of \u00a0
Directors and Executive Management on 21 February \u00a0
2024, and will be presented for approval by the share- \u00a0
holders at the Annual General Meeting on 20 March 2024. \u00a0
",
"dimensions": {
"concept": "ifrs-full:DisclosureOfAuthorisationOfFinancialStatementsExplanatory",
"language": "en",
"entity": "scheme:529900197LKWCEQ0NL18",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"fact1969": {
"value": "Principles of consolidation \u00a0
The consolidated financial statements comprise the \u00a0
financial statements of the parent company (NKT A/S) \u00a0
and the individual subsidiaries\u2019 financial statements \u00a0
prepared according to NKT Group\u2019s accounting poli- \u00a0
cies. Subsidiaries are fully consolidated from the date \u00a0
of acquisition, being the date on which NKT obtains \u00a0
control, until the date that such control ceases. \u00a0
All intercompany balances, income and expenses, \u00a0
unrealized gains and losses and dividends resulting \u00a0
from intercompany transactions are eliminated in full. \u00a0
",
"dimensions": {
"concept": "ifrs-full:DisclosureOfBasisOfConsolidationExplanatory",
"language": "en",
"entity": "scheme:529900197LKWCEQ0NL18",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"fact1998": {
"value": "1.3 Significant
estimates and judgements \u00a0
When preparing this Annual Report, Management has \u00a0
made a number of accounting judgements in applying \u00a0
the accounting policies, which form the basis for the \u00a0
recognition and measurement of assets, liabilities and \u00a0
disclosures provided. Further, Management provides \u00a0
significant estimates regarding future developments. \u00a0
These are regularly reassessed based on historical \u00a0
experience and other factors, which Management \u00a0
assesses to be reliable, but which, by their nature, are \u00a0
associated with uncertainty and unpredictability. \u00a0
Significant estimates and judgements are predomi- \u00a0
nantly applied in relation to the recognition of revenue \u00a0
from construction contracts, impairment of goodwill \u00a0
and assessing the value of deferred tax assets. These \u00a0
assumptions may prove incomplete or incorrect, and \u00a0
unexpected events or circumstances may arise, but \u00a0
the assumptions are considered reasonable and reli- \u00a0
able under the circumstances. \u00a0
From Management perspective the following esti- \u00a0
mates and judgements are considered significant \u00a0
and the applied estimates and judgements are further \u00a0
described in the respective notes. \u00a0
Significant accounting \u00a0
Impact \u00a0
Note \u00a0
estimate and judgement \u00a0
Estimate/ Judgement \u00a0
assessment1 \u00a0
2.1 \u00a0
Segment information and
Determine revenue recognition for \u00a0
Judgement and estimate \u00a0
revenue \u00a0
projects (PoC) \u00a0
4.4 \u00a0
Contract assets and \u00a0
Valuation of construction contracts \u00a0
Estimate \u00a0
liabilities \u00a0
2.5 \u00a0
Tax \u00a0
Valuation of deferred tax assets \u00a0
Judgement and estimate \u00a0
6.3 \u00a0
DIscontinued operations
Judgment of NKT Photonics \u00a0
Judgement \u00a0
divestment approval \u00a0
3.3 \u00a0
Impairment of assets \u00a0
Estimate the value-in-use of intangible
Estimate \u00a0
and tangible long-term assets \u00a0
7.3 \u00a0
Contingent liabilities \u00a0
Determine recognition and \u00a0
Judgement and estimate \u00a0
measurement of obligations \u00a0
1 The numbers of boxes in the above assessment indicate the level of estimates and judgment applied, where five being the highest. \u00a0
Presentation in the notes \u00a0
Significant estimates \u00a0
A description of the Significant judgements and \u00a0
accounting estimates provided by Management are \u00a0
included in the respective sections to which they \u00a0
relate. \u00a0
Sensitivity \u00a0
Sensitivity analyses accompany significant judgements \u00a0
and accounting estimates, and are included in the \u00a0
sections to which they relate. \u00a0
Agreement to divest NKT Photonics \u00a0
In June 2022, NKT entered into an agreement to divest NKT \u00a0
Photonics to Photonics Management Europe S.R.L, a 100% \u00a0
owned subsidiary of Hamamatsu Photonics K.K. On 2 May \u00a0
2023, NKT received notification that the Purchaser had \u00a0
been denied the authorization under the Danish Investment \u00a0
Screening Act needed for the Purchaser to proceed to \u00a0
complete the transaction and acquire NKT Photonics. The \u00a0
Purchaser has been taking further actions in response to the \u00a0
decision including a refiling of its application to the Danish \u00a0
authorities and, separately, NKT continues to evaluate \u00a0
its options considering the decision. As a consequence \u00a0
NKT remains committed to its plan to sell NKT Photonics \u00a0
and NKT Photonics is presented as discontinued \u00a0
operations and assets held for sale in this report. \u00a0
Significant estimates and judgements \u00a0
Cable projects are to a certain degree measured based on management \u00a0
judgement in terms of when to recognize revenue and how to calculate the \u00a0
revenue in terms of percentage-of-completion and estimated profit on \u00a0
each project. The estimates include a risk provision, which is based on \u00a0
an assessment of the specific risks that each project is exposed to. The \u00a0
percentage-of-completion is based on costs incurred against estimated \u00a0
total project costs. In essence, the total project costs are therefore to a \u00a0
large extent based on estimates. \u00a0
Assumptions for the recognition of revenue over time regarding larger cable \u00a0
projects are determined contract by contract. Control is transferred as the \u00a0
project progresses, based on assumptions such as: \u00a0
Deliveries being approved on an ongoing basis \u00a0
\u25a0
\u25a0
NKT Group\u2019s ability to provide products according to specification and the \u00a0
risk that the cable is rejected. \u00a0
Significant estimates \u00a0
The measurement of deferred tax assets and liabilities is based on the \u00a0
corporate tax rate applicable in the years when the assets and liabilities are \u00a0
expected to be utilized. The measurement of the tax assets is based on \u00a0
budgets and estimates for the coming years, which by nature are subject \u00a0
to uncertainty. As a result, there can be a substantial difference between \u00a0
the expected use of the tax asset and actual use of the tax asset related to \u00a0
previous years in the consolidated income statement. \u00a0
The majority of the deferred tax assets relate to NKT Group\u2019s German tax \u00a0
unit. The business outlook and high-voltage order backlog have improved \u00a0
significantly during 2023, which has led to further capitalization of tax \u00a0
losses carried forward. The tax losses carried forward from the German tax \u00a0
unit increased from EUR 387.9m in 2022 to EUR 448.7m in 2023. The total \u00a0
deferred tax value amounts to EUR 143.6m. NKT Group has recognized a \u00a0
deferred tax asset of EUR 50.3m at year-end 2023 (EUR 30.7m in 2022). \u00a0
Tax losses in Germany have no expiry date. \u00a0
The tax losses carried forward in the Swedish tax unit were fully utilized \u00a0
during 2023. Further, a deferred tax asset of EUR 1.1m relating to interest \u00a0
carried forward has been recognized in 2023 (EUR 11.3m in 2022). The \u00a0
deferred tax asset has been fully offset against a deferred tax liability. \u00a0
The tax losses carried forward at end-2023 in the Danish tax unit amount to \u00a0
EUR 18.6m. NKT Group has recognized a deferred tax asset of EUR 4.1m \u00a0
(EUR 0.0m in 2022). Tax losses in Denmark have no expiry date. \u00a0
NKT Group reported a net deferred tax liability of EUR 24.4m (EUR 43.2m \u00a0
in 2022). The development mainly relates to deferred tax liability related to \u00a0
hedge accounting recognized in other comprehensive income and deferred \u00a0
tax liability related to timing differences in revenue recognition in Germany \u00a0
and recognition of deferred tax asset related to tax losses carried forward \u00a0
in Germany and Denmark. \u00a0
Management judgement regarding deferred tax assets and provision \u00a0
for uncertain tax positions \u00a0
Deferred tax assets relating to tax losses carried forward are recognized \u00a0
when Management assesses that these can be utilized in the foreseeable \u00a0
future. The assessment is performed at the reporting date considering local \u00a0
tax legislation and Management\u2019s business plans. Planned changes to \u00a0
capital structure are included in the assessment. \u00a0
As the NKT Group conducts business around the world, tax and transfer \u00a0
pricing disputes with local tax authorities may occur. When assessing the \u00a0
expected outcome of these possible disputes, NKT Group applies IFRIC \u00a0
23 \u2018Uncertainty over Income Tax Treatments\u2019 and methods directed herein \u00a0
when making provisions for uncertain tax positions. As this is an assess- \u00a0
ment, the actual obligations may deviate and will depend on the result of \u00a0
litigations and settlements with the tax authorities. Any taxes relating to tax \u00a0
disputes are included in \u2018Income tax receivables\u2019, \u2018Income tax payables\u2019 or \u00a0
\u2018Deferred tax\u2019 based on an assessment of the most likely outcome of the \u00a0
disputes. \u00a0
Significant estimates \u00a0
Goodwill \u00a0
Goodwill has been allocated to the cash-generating units according to the \u00a0
split presented below. The goodwill level in Applications was immaterial and \u00a0
the assumptions for the impairment test of goodwill are not described any \u00a0
further for this cash-generating unit. The carrying amount of goodwill was \u00a0
as follows: \u00a0
Amounts in EURm \u00a0
2023 \u00a0
2022 \u00a0
Solutions \u00a0
298.8 \u00a0
298.1 \u00a0
Applications \u00a0
6.5 \u00a0
6.7 \u00a0
Service & Accessories \u00a0
45.6 \u00a0
45.6 \u00a0
Total \u00a0
350.9 \u00a0
350.4 \u00a0
Sensitivity to changes in assumptions \u00a0
No sensitivity analysis has been presented due to no reasonably possible \u00a0
change in assumptions could lead to an impairment. Changes in more \u00a0
assumptions at once is not considered. The general assumption, that NKT \u00a0
will be awarded its fair share of future projects, is not considered separately. \u00a0
It is Management\u2019s assessment that likely changes in the key assumption \u00a0
will not cause the carrying amount of goodwill to exceed the recoverable \u00a0
amount. \u00a0
Sensitivity analysis \u00a0
The table below shows the sensitivity of the liability to changes in key \u00a0
assumptions for the measurement of the pension liabilities, net. The analysis \u00a0
is based on the changes in the applied key assumptions considered reason- \u00a0
ably likely provided the other parameters in the calculation are unchanged. \u00a0
Amounts in EURm \u00a0
2023 \u00a0
2022 \u00a0
+0.5%-point in discount rate \u00a0
-2.0 \u00a0
-2.2 \u00a0
-0.5%-point in discount rate \u00a0
2.2 \u00a0
2.5 \u00a0
+0.5%-point in future pension increase \u00a0
2.0 \u00a0
2.2 \u00a0
-0.5%-point in future pension increase \u00a0
-1.9 \u00a0
-2.0 \u00a0
A change in the salary increase of 0.5%-points is not considered to have a \u00a0
material effect. \u00a0
Significant estimates \u00a0
Construction contracts are measured based on Management\u2019s judgement \u00a0
in terms of percentage-of-completion and estimated profit on a project-by- \u00a0
project approach to estimate the expected selling prices which affect the \u00a0
value recognized in the balance sheet. The estimate includes a risk provi- \u00a0
sion, which is based on an assessment of the specific risk that each project \u00a0
is exposed to. Therefore, the recognition of revenue and related contract \u00a0
assets and liabilities are subject to uncertainty. Management\u2019s estimates \u00a0
are based on the most likely outcomes of the projects. \u00a0
Significant estimates and judgements \u00a0
Disclosures for contingent assets and liabilities and when they must be \u00a0
recognized is derived from evaluations of the expected outcome of the \u00a0
individual issues. These evaluations are based on legal opinions of the \u00a0
agreements contracted, which in significant instances also include opinions \u00a0
obtained from external advisors, including lawyers. \u00a0
",
"dimensions": {
"concept": "ifrs-full:DisclosureOfAccountingJudgementsAndEstimatesExplanatory",
"language": "en",
"entity": "scheme:529900197LKWCEQ0NL18",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"fact1989": {
"value": "New standards, interpretations and amendments \u00a0
adopted by NKT Group \u00a0
As of 1 January 2023, NKT Group adopted all relevant \u00a0
new or revised IFRS Accounting Standards and IFRIC \u00a0
Interpretations with effective date 1 January 2023 or \u00a0
earlier. \u00a0
The new or revised standards and interpretations did \u00a0
not affect recognition and measurement materially nor \u00a0
did they result in any material changes to disclosures \u00a0
in the notes. \u00a0
Apart from this, the annual report is presented in \u00a0
accordance with the accounting policies applied in \u00a0
previous years\u2019 annual reports. However, a few reclas- \u00a0
sifications in the comparative figures for 2022 have \u00a0
been made. \u00a0
New standards, interpretations and amendments \u00a0
not yet adopted by NKT Group \u00a0
IASB has issued a number of new or amended \u00a0
accounting standards and interpretations, some of \u00a0
which are not yet endorsed by EU, and which are \u00a0
not mandatory for reporting periods ending at 31 \u00a0
December 2023. NKT Group expect to implement \u00a0
these new and amended standards, when they \u00a0
become mandatory. \u00a0
None of the standards and interpretations are \u00a0
expected to have a material impact on the NKT Group. \u00a0
",
"dimensions": {
"concept": "ifrs-full:DescriptionOfInitialApplicationOfStandardsOrInterpretations",
"language": "en",
"entity": "scheme:529900197LKWCEQ0NL18",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"fact1991": {
"value": "New standards, interpretations and amendments \u00a0
adopted by NKT Group \u00a0
As of 1 January 2023, NKT Group adopted all relevant \u00a0
new or revised IFRS Accounting Standards and IFRIC \u00a0
Interpretations with effective date 1 January 2023 or \u00a0
earlier. \u00a0
The new or revised standards and interpretations did \u00a0
not affect recognition and measurement materially nor \u00a0
did they result in any material changes to disclosures \u00a0
in the notes. \u00a0
Apart from this, the annual report is presented in \u00a0
accordance with the accounting policies applied in \u00a0
previous years\u2019 annual reports. However, a few reclas- \u00a0
sifications in the comparative figures for 2022 have \u00a0
been made. \u00a0
",
"dimensions": {
"concept": "ifrs-full:DisclosureOfChangesInAccountingPoliciesExplanatory",
"language": "en",
"entity": "scheme:529900197LKWCEQ0NL18",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"fact1992": {
"value": "New standards, interpretations and amendments \u00a0
adopted by NKT Group \u00a0
As of 1 January 2023, NKT Group adopted all relevant \u00a0
new or revised IFRS Accounting Standards and IFRIC \u00a0
Interpretations with effective date 1 January 2023 or \u00a0
earlier. \u00a0
The new or revised standards and interpretations did \u00a0
not affect recognition and measurement materially nor \u00a0
did they result in any material changes to disclosures \u00a0
in the notes. \u00a0
Apart from this, the annual report is presented in \u00a0
accordance with the accounting policies applied in \u00a0
previous years\u2019 annual reports. However, a few reclas- \u00a0
sifications in the comparative figures for 2022 have \u00a0
been made. \u00a0
",
"dimensions": {
"concept": "ifrs-full:DisclosureOfChangesInAccountingPoliciesAccountingEstimatesAndErrorsExplanatory",
"language": "en",
"entity": "scheme:529900197LKWCEQ0NL18",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"fact2012": {
"value": "Agreement to divest NKT Photonics \u00a0
In June 2022, NKT entered into an agreement to divest NKT \u00a0
Photonics to Photonics Management Europe S.R.L, a 100% \u00a0
owned subsidiary of Hamamatsu Photonics K.K. On 2 May \u00a0
2023, NKT received notification that the Purchaser had \u00a0
been denied the authorization under the Danish Investment \u00a0
Screening Act needed for the Purchaser to proceed to \u00a0
complete the transaction and acquire NKT Photonics. The \u00a0
Purchaser has been taking further actions in response to the \u00a0
decision including a refiling of its application to the Danish \u00a0
authorities and, separately, NKT continues to evaluate \u00a0
its options considering the decision. As a consequence \u00a0
NKT remains committed to its plan to sell NKT Photonics \u00a0
and NKT Photonics is presented as discontinued \u00a0
operations and assets held for sale in this report. \u00a0
6.3 Discontinued
operations and assets held for sale \u00a0
Amounts in EURm \u00a0
2023 \u00a0
2022 \u00a0
Profit for the year \u2013 discontinued \u00a0
operations \u00a0
Revenue \u00a0
88.1 \u00a0
86.5 \u00a0
Costs and other income, net \u00a0
-80.8 \u00a0
-79.9 \u00a0
Gain from sale of business \u00a0
0.0 \u00a0
8.0 \u00a0
Earnings before interest, tax, \u00a0
depreciation and amortization (EBITDA) \u00a0
7.3 \u00a0
14.6 \u00a0
Depreciation and amortization \u00a0
0.0 \u00a0
-6.6 \u00a0
Earnings before interest and tax (EBIT) \u00a0
7.3 \u00a0
8.0 \u00a0
Financial items, net \u00a0
-1.0 \u00a0
0.1 \u00a0
Earnings before tax (EBT) \u00a0
6.3 \u00a0
8.1 \u00a0
Tax \u00a0
-0.7 \u00a0
-0.8 \u00a0
Net result - discontinued operations \u00a0
5.6 \u00a0
7.3 \u00a0
NKT' share hereof \u00a0
5.6 \u00a0
7.3 \u00a0
Basic earnings - discontinued operations, \u00a0
EUR, per share (EPS) \u00a0
0.1 \u00a0
0.2 \u00a0
Diluted earnings - discuntinued operations, \u00a0
EUR, per share (EPS-D) \u00a0
0.1 \u00a0
0.2 \u00a0
Earnings before interest, tax, \u00a0
depreciation and amortization (EBITDA) \u00a0
7.3 \u00a0
14.6 \u00a0
One-off items \u00a0
0.0 \u00a0
5.8 \u00a0
Operational EBITDA \u00a0
7.3 \u00a0
8.8 \u00a0
One-off items for discontinued operations in 2022 comprise costs asso- \u00a0
ciated with the divestment of EUR 2.2m and the accounting gain of EUR \u00a0
8.0m related to the divestment of the LIOS sensing business recognized in \u00a0
Q1 2022. \u00a0
Amounts in EURm \u00a0
2023 \u00a0
2022 \u00a0
Cash flows from discontinued operations \u00a0
Cash flow from operating activities \u00a0
4.0 \u00a0
-16.0 \u00a0
Cash flow from investing activities \u00a0
-15.6 \u00a0
2.5 \u00a0
Cash flow from financing activities \u00a0
10.3 \u00a0
21.5 \u00a0
Net cash flow from discontinued \u00a0
operations \u00a0
-1.3 \u00a0
8.0 \u00a0
Balance sheet items \u00a0
Non-current assets \u00a0
119.2 \u00a0
100.7 \u00a0
Current assets \u00a0
58.2 \u00a0
63.4 \u00a0
Assets held for sale \u00a0
177.4 \u00a0
164.1 \u00a0
Non-current liabilities \u00a0
17.5 \u00a0
13.2 \u00a0
Current liabilities \u00a0
20.1 \u00a0
22.4 \u00a0
Liabilities associated with assets \u00a0
held for sale \u00a0
37.6 \u00a0
35.6 \u00a0
Intangible assets held for sale in 2023 related to NKT Photonics amount \u00a0
to EUR 80.0m (EUR 69.7m) and property, plant and equipment amount to \u00a0
EUR 24.2m (EUR 30.7m). In connection with the classification to discon- \u00a0
tinued operations and assets held for sale no impairment was recognized. \u00a0
Accounting policy \u00a0
Discontinued operations represent a separate major line of businesses \u00a0
intended to be disposed within 12 months. The results of discontinued \u00a0
operations are presented separately in the income statement and the cash \u00a0
flow statement with restatement of comparative figures. \u00a0
Assets and liabilities held for sale from discontinued operations are \u00a0
presented as separate items in the balance sheet with no restatement of \u00a0
comparative figures. Elimination between continuing and discontinued \u00a0
operations is presented to reflect continuing operations as post-separation, \u00a0
which includes elimination of interest and loans. \u00a0
Assets and liabilities from discontinued operations and assets held for sale \u00a0
are measured at the lower of carrying amount and fair value less cost of \u00a0
disposal. Impairment test is performed immediately before classification \u00a0
as held for sale. Non-current assets held for sale are not depreciated or \u00a0
amortized. \u00a0
",
"dimensions": {
"concept": "ifrs-full:DisclosureOfDiscontinuedOperationsExplanatory",
"language": "en",
"entity": "scheme:529900197LKWCEQ0NL18",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"fact2013": {
"value": "Agreement to divest NKT Photonics \u00a0
In June 2022, NKT entered into an agreement to divest NKT \u00a0
Photonics to Photonics Management Europe S.R.L, a 100% \u00a0
owned subsidiary of Hamamatsu Photonics K.K. On 2 May \u00a0
2023, NKT received notification that the Purchaser had \u00a0
been denied the authorization under the Danish Investment \u00a0
Screening Act needed for the Purchaser to proceed to \u00a0
complete the transaction and acquire NKT Photonics. The \u00a0
Purchaser has been taking further actions in response to the \u00a0
decision including a refiling of its application to the Danish \u00a0
authorities and, separately, NKT continues to evaluate \u00a0
its options considering the decision. As a consequence \u00a0
NKT remains committed to its plan to sell NKT Photonics \u00a0
and NKT Photonics is presented as discontinued \u00a0
operations and assets held for sale in this report. \u00a0
Accounting policy \u00a0
Discontinued operations represent a separate major line of businesses \u00a0
intended to be disposed within 12 months. The results of discontinued \u00a0
operations are presented separately in the income statement and the cash \u00a0
flow statement with restatement of comparative figures. \u00a0
Assets and liabilities held for sale from discontinued operations are \u00a0
presented as separate items in the balance sheet with no restatement of \u00a0
comparative figures. Elimination between continuing and discontinued \u00a0
operations is presented to reflect continuing operations as post-separation, \u00a0
which includes elimination of interest and loans. \u00a0
Assets and liabilities from discontinued operations and assets held for sale \u00a0
are measured at the lower of carrying amount and fair value less cost of \u00a0
disposal. Impairment test is performed immediately before classification \u00a0
as held for sale. Non-current assets held for sale are not depreciated or \u00a0
amortized. \u00a0
",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForDiscontinuedOperationsExplanatory",
"language": "en",
"entity": "scheme:529900197LKWCEQ0NL18",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"fact1995": {
"value": "New standards, interpretations and amendments \u00a0
not yet adopted by NKT Group \u00a0
IASB has issued a number of new or amended \u00a0
accounting standards and interpretations, some of \u00a0
which are not yet endorsed by EU, and which are \u00a0
not mandatory for reporting periods ending at 31 \u00a0
December 2023. NKT Group expect to implement \u00a0
these new and amended standards, when they \u00a0
become mandatory. \u00a0
None of the standards and interpretations are \u00a0
expected to have a material impact on the NKT Group. \u00a0
",
"dimensions": {
"concept": "ifrs-full:DescriptionOfExpectedImpactOfInitialApplicationOfNewStandardsOrInterpretations",
"language": "en",
"entity": "scheme:529900197LKWCEQ0NL18",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"fact2014": {
"value": "This section relates to profit \u00a0
for the year, including revenue, \u00a0
segment information, staff costs, \u00a0
share-based payments, research \u00a0
and development costs and tax. \u00a0
2.1 Segment
information and revenue \u00a0
Service & \u00a0
Non Intersegment \u00a0
Amounts in EURm \u00a0
Solutions \u00a0
Applications \u00a0
Accessories \u00a0
allocated transact. \u00a0
Total NKT \u00a0
2023 \u00a0
Income statement \u00a0
Goods1) \u00a0
41.7 \u00a0
1,115.9 \u00a0
161.6 \u00a0
0.0 \u00a0
-54.9 \u00a0
1,264.3 \u00a0
Service, etc.2) \u00a0
26.1 \u00a0
0.0 \u00a0
9.8 \u00a0
0.0 \u00a0
-3.1 \u00a0
32.8 \u00a0
Construction contracts2) \u00a0
1,245.5 \u00a0
0.0 \u00a0
28.2 \u00a0
0.0 \u00a0
-3.6 \u00a0
1,270.1 \u00a0
Revenue (market prices) \u00a0
1,313.3 \u00a0
1,115.9 \u00a0
199.6 \u00a0
0.0 \u00a0
-61.6 \u00a0
2,567.2 \u00a0
Adjustment of market prices to std. metal prices \u00a0
-161.9 \u00a0
-478.2 \u00a0
0.0 \u00a0
0.0 \u00a0
0.3 \u00a0
-639.8 \u00a0
Revenue (std. metal prices)3) \u00a0
1,151.4 \u00a0
637.7 \u00a0
199.6 \u00a0
0.0 \u00a0
-61.3 \u00a0
1,927.4 \u00a0
Costs and other income, net (excl. one-off items) \u00a0
-1,131.7 \u00a0
-1,057.2 \u00a0
-181.0 \u00a0
-4.3 \u00a0
61.6 \u00a0
-2,312.6 \u00a0
Operational EBITDA \u00a0
181.6 \u00a0
58.7 \u00a0
18.6 \u00a0
-4.3 \u00a0
0.0 \u00a0
254.6 \u00a0
Depreciation, amortization and impairment \u00a0
-68.8 \u00a0
-14.7 \u00a0
-5.0 \u00a0
-1.5 \u00a0
0.0 \u00a0
-90.0 \u00a0
Share of profit/loss in associated companies \u00a0
-0.2 \u00a0
0.0 \u00a0
0.0 \u00a0
0.0 \u00a0
0.0 \u00a0
-0.2 \u00a0
Operational EBIT \u00a0
112.6 \u00a0
44.0 \u00a0
13.6 \u00a0
-5.8 \u00a0
0.0 \u00a0
164.4 \u00a0
Working capital \u00a0
-739.1 \u00a0
38.9 \u00a0
31.0 \u00a0
-39.6 \u00a0
0.0 \u00a0
-708.8 \u00a0
2022 \u00a0
Income statement \u00a0
Goods1) \u00a0
46.7 \u00a0
1,066.7 \u00a0
132.8 \u00a0
0.0 \u00a0
-38.2 \u00a0
1,208.0 \u00a0
Service, etc.2) \u00a0
16.9 \u00a0
0.0 \u00a0
7.3 \u00a0
0.0 \u00a0
-2.6 \u00a0
21.6 \u00a0
Construction contracts2) \u00a0
803.5 \u00a0
0.0 \u00a0
53.2 \u00a0
0.0 \u00a0
-7.3 \u00a0
849.4 \u00a0
Revenue (market prices) \u00a0
867.1 \u00a0
1,066.7 \u00a0
193.3 \u00a0
0.0 \u00a0
-48.1 \u00a0
2,079.0 \u00a0
Adjustment of market prices to std. metal prices \u00a0
-117.6 \u00a0
-514.7 \u00a0
-0.1 \u00a0
0.0 \u00a0
0.2 \u00a0
-632.2 \u00a0
Revenue (std. metal prices)3) \u00a0
749.5 \u00a0
552.0 \u00a0
193.2 \u00a0
0.0 \u00a0
-47.9 \u00a0
1,446.8 \u00a0
Costs and other income, net (excl. one-off items) \u00a0
-761.2 \u00a0
-1,038.2 \u00a0
-167.6 \u00a0
-5.6 \u00a0
48.1 \u00a0
-1,924.5 \u00a0
Operational EBITDA \u00a0
105.9 \u00a0
28.5 \u00a0
25.7 \u00a0
-5.6 \u00a0
0.0 \u00a0
154.5 \u00a0
Depreciation, amortization and impairment \u00a0
-64.3 \u00a0
-14.9 \u00a0
-4.2 \u00a0
-2.0 \u00a0
0.0 \u00a0
-85.4 \u00a0
Operational EBIT \u00a0
41.6 \u00a0
13.6 \u00a0
21.5 \u00a0
-7.6 \u00a0
0.0 \u00a0
69.1 \u00a0
Working capital \u00a0
-437.2 \u00a0
89.7 \u00a0
36.2 \u00a0
8.3 \u00a0
0.0 \u00a0
-303.0 \u00a0
1) \u00a0
Revenue recognized at a point in time. \u00a0
2) \u00a0
Revenue recognized over time. \u00a0
3) \u00a0
Refer to note 7.4 Definitions. \u00a0
Amounts in EURm \u00a0
2023 \u00a0
2022 \u00a0
Reconciliation to net result \u00a0
Operational EBITDA \u00a0
254.6 \u00a0
154.5 \u00a0
One-off items \u00a0
0.0 \u00a0
0.1 \u00a0
EBITDA \u00a0
254.6 \u00a0
154.6 \u00a0
Depreciation, amortization and impairment \u00a0
-90.0 \u00a0
-85.4 \u00a0
Share of profit/loss in associated companies \u00a0
-0.2 \u00a0
0.0 \u00a0
EBIT \u00a0
164.4 \u00a0
69.2 \u00a0
Financial items, net \u00a0
-15.6 \u00a0
9.1 \u00a0
EBT \u00a0
148.8 \u00a0
78.3 \u00a0
Tax \u00a0
-30.1 \u00a0
-23.2 \u00a0
Net result - continuing operations \u00a0
118.7 \u00a0
55.1 \u00a0
Net result - discontinued operations \u00a0
5.6 \u00a0
7.3 \u00a0
Net result \u00a0
124.3 \u00a0
62.4 \u00a0
Geographical information \u00a0
Property, plant and \u00a0
equitment and \u00a0
Revenue \u00a0
intangible assets \u00a0
Amounts in EURm \u00a0
2023 \u00a0
2022 \u00a0
2023 \u00a0
2022 \u00a0
Denmark \u00a0
110.4 \u00a0
120.5 \u00a0
12.1 \u00a0
11.5 \u00a0
Germany \u00a0
764.0 \u00a0
679.1 \u00a0
331.5 \u00a0
324.5 \u00a0
Sweden \u00a0
122.4 \u00a0
154.8 \u00a0
995.0 \u00a0
837.3 \u00a0
UK \u00a0
399.1 \u00a0
359.1 \u00a0
18.3 \u00a0
18.8 \u00a0
Poland \u00a0
257.3 \u00a0
213.5 \u00a0
21.5 \u00a0
17.2 \u00a0
USA \u00a0
390.6 \u00a0
99.6 \u00a0
4.3 \u00a0
0.1 \u00a0
Norway \u00a0
83.9 \u00a0
90.4 \u00a0
82.3 \u00a0
87.9 \u00a0
Czech Republic \u00a0
77.1 \u00a0
62.0 \u00a0
83.2 \u00a0
63.7 \u00a0
Other \u00a0
362.4 \u00a0
300.0 \u00a0
10.1 \u00a0
12.2 \u00a0
Total \u00a0
2,567.2 \u00a0
2,079.0 \u00a0
1,558.3 \u00a0
1,373.2 \u00a0
Revenue \u00a0
Revenue from construction contracts with customers with a high degree of \u00a0
individual customization and no alternative use, are recognized as revenue \u00a0
over time, provided that NKT Group has secured an enforceable right to \u00a0
payment for work performed at any time. The revenue therefore corre- \u00a0
sponds to the sales price of work performed during the year (the percent- \u00a0
age-of-completion method). See note 4.4 for further information concerning \u00a0
construction contracts. \u00a0
Revenue from sale of goods for resale and finished goods is recognized \u00a0
in the income statement when control of the goods has transferred to \u00a0
the buyer, normally at delivery, and it is probable that the income will be \u00a0
received. \u00a0
Revenue from services that include service packages and extended \u00a0
warranties relating to products and contracts is recognized over time with \u00a0
the supply of those services. \u00a0
Revenue is measured at the fair value of the expected consideration \u00a0
excluding VAT and taxes charged on behalf of third parties. In determining \u00a0
the transaction price, revenue is reduced by probable penalties and other \u00a0
claims and discounts that are payments to the customers. The transac- \u00a0
tion price is further adjusted for any variable elements of the transaction \u00a0
price. The variable amount is estimated at contract inception and revisited \u00a0
throughout the contract period. Variable income is recognized as revenue \u00a0
when it is highly probable that a significant reversal will not occur. \u00a0
Projects \u00a0
Revenue from the sale of cable projects accounted for as construction \u00a0
contracts comprises sale of onshore and offshore highly customized cables \u00a0
in Solutions, and delivery of highly customized spare cables in Service. \u00a0
Projects are usually significant in amount, have a long lead time affecting \u00a0
the financial statements of more reporting periods and have a high degree \u00a0
of project management. Each project is normally considered one perfor- \u00a0
mance obligation as each project comprise highly interrelated and interde- \u00a0
pendent physical assets and services, such as production, installation and \u00a0
project management. \u00a0
However, depending on the contract structure, the performance obligation \u00a0
may consist of more than one contract. Cable projects are often sold as \u00a0
fixed price contracts and revenue from these are therefore recognized over \u00a0
time by applying the percentage of completion (PoC) cost-to-cost method. \u00a0
Payment terms of a cable project contract usually comprise the following \u00a0
payments: \u00a0
down payment from the customer at contract inception, \u00a0
\u25a0
\u25a0
progress payments, linked to project milestones, \u00a0
final payment upon completion and customer acceptance. \u00a0
\u25a0
NKT Group will usually obtain payment guarantees to minimize counter \u00a0
party risk during the execution of cable projects. \u00a0
Sale of products \u00a0
Sale of products relates to the sale of smaller less customized cable \u00a0
projects, standardized cables and equipment. Small cable projects with \u00a0
little or no customization usually have a short lead time of less than one \u00a0
year. Each delivered product is considered one performance obligation. \u00a0
Most of the products are sold at a fixed price and revenue is usually recog- \u00a0
nized at the point in time when the control of the products transfers to the \u00a0
customers, usually upon delivery. \u00a0
For standardized products, NKT Group is usually entitled to payment upon \u00a0
delivery, and payment terms vary by market but are usually short. \u00a0
Service contracts \u00a0
Service contracts comprise various service elements to support power \u00a0
cable efficiency and prevent or mitigate power cable failures and can \u00a0
include up to 24/7, 365 days/year support. Service delivered according to \u00a0
the contracts is considered as one performance obligation delivered over \u00a0
time. Revenue is accordingly recognized over the life of the contract. NKT \u00a0
Group is either entitled to payment once the service has been provided or \u00a0
on a periodic basis. \u00a0
Spare parts and other repair work contracts are determined as one perfor- \u00a0
mance obligation. The transaction price is usually variable, depending on \u00a0
the produced output, and revenue is recognized over time, using the cost- \u00a0
to-cost method. In case of significant uncertainties related to measuring the \u00a0
revenue reliably, revenue is recognized according to payments. NKT Group \u00a0
is entitled to payment once the work or spare parts are delivered. \u00a0
Providing new highly customized spare cables is defined as one perfor- \u00a0
mance obligation. The transaction price is usually fixed and revenue is \u00a0
typically recognized over time using the percentage of completion (PoC) \u00a0
cost-to-cost method. \u00a0
The payment pattern for spare cables is similar to the pattern for cable \u00a0
projects described above and NKT Group will usually obtain payment guar- \u00a0
antees to minimize the risk during the execution of the cable project. \u00a0
Significant estimates and judgements \u00a0
Cable projects are to a certain degree measured based on management \u00a0
judgement in terms of when to recognize revenue and how to calculate the \u00a0
revenue in terms of percentage-of-completion and estimated profit on \u00a0
each project. The estimates include a risk provision, which is based on \u00a0
an assessment of the specific risks that each project is exposed to. The \u00a0
percentage-of-completion is based on costs incurred against estimated \u00a0
total project costs. In essence, the total project costs are therefore to a \u00a0
large extent based on estimates. \u00a0
Assumptions for the recognition of revenue over time regarding larger cable \u00a0
projects are determined contract by contract. Control is transferred as the \u00a0
project progresses, based on assumptions such as: \u00a0
Deliveries being approved on an ongoing basis \u00a0
\u25a0
\u25a0
NKT Group\u2019s ability to provide products according to specification and the \u00a0
risk that the cable is rejected. \u00a0
",
"dimensions": {
"concept": "ifrs-full:DisclosureOfRevenueExplanatory",
"language": "en",
"entity": "scheme:529900197LKWCEQ0NL18",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"fact2015": {
"value": "This section relates to profit \u00a0
for the year, including revenue, \u00a0
segment information, staff costs, \u00a0
share-based payments, research \u00a0
and development costs and tax. \u00a0
2.1 Segment
information and revenue \u00a0
Service & \u00a0
Non Intersegment \u00a0
Amounts in EURm \u00a0
Solutions \u00a0
Applications \u00a0
Accessories \u00a0
allocated transact. \u00a0
Total NKT \u00a0
2023 \u00a0
Income statement \u00a0
Goods1) \u00a0
41.7 \u00a0
1,115.9 \u00a0
161.6 \u00a0
0.0 \u00a0
-54.9 \u00a0
1,264.3 \u00a0
Service, etc.2) \u00a0
26.1 \u00a0
0.0 \u00a0
9.8 \u00a0
0.0 \u00a0
-3.1 \u00a0
32.8 \u00a0
Construction contracts2) \u00a0
1,245.5 \u00a0
0.0 \u00a0
28.2 \u00a0
0.0 \u00a0
-3.6 \u00a0
1,270.1 \u00a0
Revenue (market prices) \u00a0
1,313.3 \u00a0
1,115.9 \u00a0
199.6 \u00a0
0.0 \u00a0
-61.6 \u00a0
2,567.2 \u00a0
Adjustment of market prices to std. metal prices \u00a0
-161.9 \u00a0
-478.2 \u00a0
0.0 \u00a0
0.0 \u00a0
0.3 \u00a0
-639.8 \u00a0
Revenue (std. metal prices)3) \u00a0
1,151.4 \u00a0
637.7 \u00a0
199.6 \u00a0
0.0 \u00a0
-61.3 \u00a0
1,927.4 \u00a0
Costs and other income, net (excl. one-off items) \u00a0
-1,131.7 \u00a0
-1,057.2 \u00a0
-181.0 \u00a0
-4.3 \u00a0
61.6 \u00a0
-2,312.6 \u00a0
Operational EBITDA \u00a0
181.6 \u00a0
58.7 \u00a0
18.6 \u00a0
-4.3 \u00a0
0.0 \u00a0
254.6 \u00a0
Depreciation, amortization and impairment \u00a0
-68.8 \u00a0
-14.7 \u00a0
-5.0 \u00a0
-1.5 \u00a0
0.0 \u00a0
-90.0 \u00a0
Share of profit/loss in associated companies \u00a0
-0.2 \u00a0
0.0 \u00a0
0.0 \u00a0
0.0 \u00a0
0.0 \u00a0
-0.2 \u00a0
Operational EBIT \u00a0
112.6 \u00a0
44.0 \u00a0
13.6 \u00a0
-5.8 \u00a0
0.0 \u00a0
164.4 \u00a0
Working capital \u00a0
-739.1 \u00a0
38.9 \u00a0
31.0 \u00a0
-39.6 \u00a0
0.0 \u00a0
-708.8 \u00a0
2022 \u00a0
Income statement \u00a0
Goods1) \u00a0
46.7 \u00a0
1,066.7 \u00a0
132.8 \u00a0
0.0 \u00a0
-38.2 \u00a0
1,208.0 \u00a0
Service, etc.2) \u00a0
16.9 \u00a0
0.0 \u00a0
7.3 \u00a0
0.0 \u00a0
-2.6 \u00a0
21.6 \u00a0
Construction contracts2) \u00a0
803.5 \u00a0
0.0 \u00a0
53.2 \u00a0
0.0 \u00a0
-7.3 \u00a0
849.4 \u00a0
Revenue (market prices) \u00a0
867.1 \u00a0
1,066.7 \u00a0
193.3 \u00a0
0.0 \u00a0
-48.1 \u00a0
2,079.0 \u00a0
Adjustment of market prices to std. metal prices \u00a0
-117.6 \u00a0
-514.7 \u00a0
-0.1 \u00a0
0.0 \u00a0
0.2 \u00a0
-632.2 \u00a0
Revenue (std. metal prices)3) \u00a0
749.5 \u00a0
552.0 \u00a0
193.2 \u00a0
0.0 \u00a0
-47.9 \u00a0
1,446.8 \u00a0
Costs and other income, net (excl. one-off items) \u00a0
-761.2 \u00a0
-1,038.2 \u00a0
-167.6 \u00a0
-5.6 \u00a0
48.1 \u00a0
-1,924.5 \u00a0
Operational EBITDA \u00a0
105.9 \u00a0
28.5 \u00a0
25.7 \u00a0
-5.6 \u00a0
0.0 \u00a0
154.5 \u00a0
Depreciation, amortization and impairment \u00a0
-64.3 \u00a0
-14.9 \u00a0
-4.2 \u00a0
-2.0 \u00a0
0.0 \u00a0
-85.4 \u00a0
Operational EBIT \u00a0
41.6 \u00a0
13.6 \u00a0
21.5 \u00a0
-7.6 \u00a0
0.0 \u00a0
69.1 \u00a0
Working capital \u00a0
-437.2 \u00a0
89.7 \u00a0
36.2 \u00a0
8.3 \u00a0
0.0 \u00a0
-303.0 \u00a0
1) \u00a0
Revenue recognized at a point in time. \u00a0
2) \u00a0
Revenue recognized over time. \u00a0
3) \u00a0
Refer to note 7.4 Definitions. \u00a0
Amounts in EURm \u00a0
2023 \u00a0
2022 \u00a0
Reconciliation to net result \u00a0
Operational EBITDA \u00a0
254.6 \u00a0
154.5 \u00a0
One-off items \u00a0
0.0 \u00a0
0.1 \u00a0
EBITDA \u00a0
254.6 \u00a0
154.6 \u00a0
Depreciation, amortization and impairment \u00a0
-90.0 \u00a0
-85.4 \u00a0
Share of profit/loss in associated companies \u00a0
-0.2 \u00a0
0.0 \u00a0
EBIT \u00a0
164.4 \u00a0
69.2 \u00a0
Financial items, net \u00a0
-15.6 \u00a0
9.1 \u00a0
EBT \u00a0
148.8 \u00a0
78.3 \u00a0
Tax \u00a0
-30.1 \u00a0
-23.2 \u00a0
Net result - continuing operations \u00a0
118.7 \u00a0
55.1 \u00a0
Net result - discontinued operations \u00a0
5.6 \u00a0
7.3 \u00a0
Net result \u00a0
124.3 \u00a0
62.4 \u00a0
Geographical information \u00a0
Property, plant and \u00a0
equitment and \u00a0
Revenue \u00a0
intangible assets \u00a0
Amounts in EURm \u00a0
2023 \u00a0
2022 \u00a0
2023 \u00a0
2022 \u00a0
Denmark \u00a0
110.4 \u00a0
120.5 \u00a0
12.1 \u00a0
11.5 \u00a0
Germany \u00a0
764.0 \u00a0
679.1 \u00a0
331.5 \u00a0
324.5 \u00a0
Sweden \u00a0
122.4 \u00a0
154.8 \u00a0
995.0 \u00a0
837.3 \u00a0
UK \u00a0
399.1 \u00a0
359.1 \u00a0
18.3 \u00a0
18.8 \u00a0
Poland \u00a0
257.3 \u00a0
213.5 \u00a0
21.5 \u00a0
17.2 \u00a0
USA \u00a0
390.6 \u00a0
99.6 \u00a0
4.3 \u00a0
0.1 \u00a0
Norway \u00a0
83.9 \u00a0
90.4 \u00a0
82.3 \u00a0
87.9 \u00a0
Czech Republic \u00a0
77.1 \u00a0
62.0 \u00a0
83.2 \u00a0
63.7 \u00a0
Other \u00a0
362.4 \u00a0
300.0 \u00a0
10.1 \u00a0
12.2 \u00a0
Total \u00a0
2,567.2 \u00a0
2,079.0 \u00a0
1,558.3 \u00a0
1,373.2 \u00a0
Accounting policy \u00a0
Segment information \u00a0
The segment information is based on internal management reporting and is \u00a0
presented in accordance with the Group\u2019s accounting policies. \u00a0
Segment income and expenses and segment working capital comprise those \u00a0
items that are directly attributable to the individual segment and those items \u00a0
that can be reliably allocated to it. Other items are shown as non-allocated. \u00a0
The reportable segments are generally referred to as business lines. The busi- \u00a0
ness lines consist of Solutions, Applications and Service & Accessories. For \u00a0
further details please refer to the Business review section of each business \u00a0
line in the management review. The Board of Directors assesses the operating \u00a0
results of the business lines separately to enable decisions concerning alloca- \u00a0
tion of resources and measurement of performance. \u00a0
Revenue from Goods and Service are recognized at a point in time and \u00a0
revenue from construction contracts are recognized over time. \u00a0
Inter-segment transactions are performed on market terms. One customer \u00a0
in the Solutions segment comprises more than 10% of the groups total \u00a0
revenue amounting to EUR 390.6m (92.3m in 2022). The geographical \u00a0
disclosure of revenue is based on the country of delivery. \u00a0
Projects \u00a0
Revenue from the sale of cable projects accounted for as construction \u00a0
contracts comprises sale of onshore and offshore highly customized cables \u00a0
in Solutions, and delivery of highly customized spare cables in Service. \u00a0
Projects are usually significant in amount, have a long lead time affecting \u00a0
the financial statements of more reporting periods and have a high degree \u00a0
of project management. Each project is normally considered one perfor- \u00a0
mance obligation as each project comprise highly interrelated and interde- \u00a0
pendent physical assets and services, such as production, installation and \u00a0
project management. \u00a0
However, depending on the contract structure, the performance obligation \u00a0
may consist of more than one contract. Cable projects are often sold as \u00a0
fixed price contracts and revenue from these are therefore recognized over \u00a0
time by applying the percentage of completion (PoC) cost-to-cost method. \u00a0
Payment terms of a cable project contract usually comprise the following \u00a0
payments: \u00a0
down payment from the customer at contract inception, \u00a0
\u25a0
\u25a0
progress payments, linked to project milestones, \u00a0
final payment upon completion and customer acceptance. \u00a0
\u25a0
NKT Group will usually obtain payment guarantees to minimize counter \u00a0
party risk during the execution of cable projects. \u00a0
Sale of products \u00a0
Sale of products relates to the sale of smaller less customized cable \u00a0
projects, standardized cables and equipment. Small cable projects with \u00a0
little or no customization usually have a short lead time of less than one \u00a0
year. Each delivered product is considered one performance obligation. \u00a0
Most of the products are sold at a fixed price and revenue is usually recog- \u00a0
nized at the point in time when the control of the products transfers to the \u00a0
customers, usually upon delivery. \u00a0
For standardized products, NKT Group is usually entitled to payment upon \u00a0
delivery, and payment terms vary by market but are usually short. \u00a0
Service contracts \u00a0
Service contracts comprise various service elements to support power \u00a0
cable efficiency and prevent or mitigate power cable failures and can \u00a0
include up to 24/7, 365 days/year support. Service delivered according to \u00a0
the contracts is considered as one performance obligation delivered over \u00a0
time. Revenue is accordingly recognized over the life of the contract. NKT \u00a0
Group is either entitled to payment once the service has been provided or \u00a0
on a periodic basis. \u00a0
Spare parts and other repair work contracts are determined as one perfor- \u00a0
mance obligation. The transaction price is usually variable, depending on \u00a0
the produced output, and revenue is recognized over time, using the cost- \u00a0
to-cost method. In case of significant uncertainties related to measuring the \u00a0
revenue reliably, revenue is recognized according to payments. NKT Group \u00a0
is entitled to payment once the work or spare parts are delivered. \u00a0
Providing new highly customized spare cables is defined as one perfor- \u00a0
mance obligation. The transaction price is usually fixed and revenue is \u00a0
typically recognized over time using the percentage of completion (PoC) \u00a0
cost-to-cost method. \u00a0
The payment pattern for spare cables is similar to the pattern for cable \u00a0
projects described above and NKT Group will usually obtain payment guar- \u00a0
antees to minimize the risk during the execution of the cable project. \u00a0
",
"dimensions": {
"concept": "ifrs-full:DisclosureOfEntitysReportableSegmentsExplanatory",
"language": "en",
"entity": "scheme:529900197LKWCEQ0NL18",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"fact2016": {
"value": "This section relates to profit \u00a0
for the year, including revenue, \u00a0
segment information, staff costs, \u00a0
share-based payments, research \u00a0
and development costs and tax. \u00a0
2.1 Segment
information and revenue \u00a0
Service & \u00a0
Non Intersegment \u00a0
Amounts in EURm \u00a0
Solutions \u00a0
Applications \u00a0
Accessories \u00a0
allocated transact. \u00a0
Total NKT \u00a0
2023 \u00a0
Income statement \u00a0
Goods1) \u00a0
41.7 \u00a0
1,115.9 \u00a0
161.6 \u00a0
0.0 \u00a0
-54.9 \u00a0
1,264.3 \u00a0
Service, etc.2) \u00a0
26.1 \u00a0
0.0 \u00a0
9.8 \u00a0
0.0 \u00a0
-3.1 \u00a0
32.8 \u00a0
Construction contracts2) \u00a0
1,245.5 \u00a0
0.0 \u00a0
28.2 \u00a0
0.0 \u00a0
-3.6 \u00a0
1,270.1 \u00a0
Revenue (market prices) \u00a0
1,313.3 \u00a0
1,115.9 \u00a0
199.6 \u00a0
0.0 \u00a0
-61.6 \u00a0
2,567.2 \u00a0
Adjustment of market prices to std. metal prices \u00a0
-161.9 \u00a0
-478.2 \u00a0
0.0 \u00a0
0.0 \u00a0
0.3 \u00a0
-639.8 \u00a0
Revenue (std. metal prices)3) \u00a0
1,151.4 \u00a0
637.7 \u00a0
199.6 \u00a0
0.0 \u00a0
-61.3 \u00a0
1,927.4 \u00a0
Costs and other income, net (excl. one-off items) \u00a0
-1,131.7 \u00a0
-1,057.2 \u00a0
-181.0 \u00a0
-4.3 \u00a0
61.6 \u00a0
-2,312.6 \u00a0
Operational EBITDA \u00a0
181.6 \u00a0
58.7 \u00a0
18.6 \u00a0
-4.3 \u00a0
0.0 \u00a0
254.6 \u00a0
Depreciation, amortization and impairment \u00a0
-68.8 \u00a0
-14.7 \u00a0
-5.0 \u00a0
-1.5 \u00a0
0.0 \u00a0
-90.0 \u00a0
Share of profit/loss in associated companies \u00a0
-0.2 \u00a0
0.0 \u00a0
0.0 \u00a0
0.0 \u00a0
0.0 \u00a0
-0.2 \u00a0
Operational EBIT \u00a0
112.6 \u00a0
44.0 \u00a0
13.6 \u00a0
-5.8 \u00a0
0.0 \u00a0
164.4 \u00a0
Working capital \u00a0
-739.1 \u00a0
38.9 \u00a0
31.0 \u00a0
-39.6 \u00a0
0.0 \u00a0
-708.8 \u00a0
2022 \u00a0
Income statement \u00a0
Goods1) \u00a0
46.7 \u00a0
1,066.7 \u00a0
132.8 \u00a0
0.0 \u00a0
-38.2 \u00a0
1,208.0 \u00a0
Service, etc.2) \u00a0
16.9 \u00a0
0.0 \u00a0
7.3 \u00a0
0.0 \u00a0
-2.6 \u00a0
21.6 \u00a0
Construction contracts2) \u00a0
803.5 \u00a0
0.0 \u00a0
53.2 \u00a0
0.0 \u00a0
-7.3 \u00a0
849.4 \u00a0
Revenue (market prices) \u00a0
867.1 \u00a0
1,066.7 \u00a0
193.3 \u00a0
0.0 \u00a0
-48.1 \u00a0
2,079.0 \u00a0
Adjustment of market prices to std. metal prices \u00a0
-117.6 \u00a0
-514.7 \u00a0
-0.1 \u00a0
0.0 \u00a0
0.2 \u00a0
-632.2 \u00a0
Revenue (std. metal prices)3) \u00a0
749.5 \u00a0
552.0 \u00a0
193.2 \u00a0
0.0 \u00a0
-47.9 \u00a0
1,446.8 \u00a0
Costs and other income, net (excl. one-off items) \u00a0
-761.2 \u00a0
-1,038.2 \u00a0
-167.6 \u00a0
-5.6 \u00a0
48.1 \u00a0
-1,924.5 \u00a0
Operational EBITDA \u00a0
105.9 \u00a0
28.5 \u00a0
25.7 \u00a0
-5.6 \u00a0
0.0 \u00a0
154.5 \u00a0
Depreciation, amortization and impairment \u00a0
-64.3 \u00a0
-14.9 \u00a0
-4.2 \u00a0
-2.0 \u00a0
0.0 \u00a0
-85.4 \u00a0
Operational EBIT \u00a0
41.6 \u00a0
13.6 \u00a0
21.5 \u00a0
-7.6 \u00a0
0.0 \u00a0
69.1 \u00a0
Working capital \u00a0
-437.2 \u00a0
89.7 \u00a0
36.2 \u00a0
8.3 \u00a0
0.0 \u00a0
-303.0 \u00a0
1) \u00a0
Revenue recognized at a point in time. \u00a0
2) \u00a0
Revenue recognized over time. \u00a0
3) \u00a0
Refer to note 7.4 Definitions. \u00a0
Amounts in EURm \u00a0
2023 \u00a0
2022 \u00a0
Reconciliation to net result \u00a0
Operational EBITDA \u00a0
254.6 \u00a0
154.5 \u00a0
One-off items \u00a0
0.0 \u00a0
0.1 \u00a0
EBITDA \u00a0
254.6 \u00a0
154.6 \u00a0
Depreciation, amortization and impairment \u00a0
-90.0 \u00a0
-85.4 \u00a0
Share of profit/loss in associated companies \u00a0
-0.2 \u00a0
0.0 \u00a0
EBIT \u00a0
164.4 \u00a0
69.2 \u00a0
Financial items, net \u00a0
-15.6 \u00a0
9.1 \u00a0
EBT \u00a0
148.8 \u00a0
78.3 \u00a0
Tax \u00a0
-30.1 \u00a0
-23.2 \u00a0
Net result - continuing operations \u00a0
118.7 \u00a0
55.1 \u00a0
Net result - discontinued operations \u00a0
5.6 \u00a0
7.3 \u00a0
Net result \u00a0
124.3 \u00a0
62.4 \u00a0
Geographical information \u00a0
Property, plant and \u00a0
equitment and \u00a0
Revenue \u00a0
intangible assets \u00a0
Amounts in EURm \u00a0
2023 \u00a0
2022 \u00a0
2023 \u00a0
2022 \u00a0
Denmark \u00a0
110.4 \u00a0
120.5 \u00a0
12.1 \u00a0
11.5 \u00a0
Germany \u00a0
764.0 \u00a0
679.1 \u00a0
331.5 \u00a0
324.5 \u00a0
Sweden \u00a0
122.4 \u00a0
154.8 \u00a0
995.0 \u00a0
837.3 \u00a0
UK \u00a0
399.1 \u00a0
359.1 \u00a0
18.3 \u00a0
18.8 \u00a0
Poland \u00a0
257.3 \u00a0
213.5 \u00a0
21.5 \u00a0
17.2 \u00a0
USA \u00a0
390.6 \u00a0
99.6 \u00a0
4.3 \u00a0
0.1 \u00a0
Norway \u00a0
83.9 \u00a0
90.4 \u00a0
82.3 \u00a0
87.9 \u00a0
Czech Republic \u00a0
77.1 \u00a0
62.0 \u00a0
83.2 \u00a0
63.7 \u00a0
Other \u00a0
362.4 \u00a0
300.0 \u00a0
10.1 \u00a0
12.2 \u00a0
Total \u00a0
2,567.2 \u00a0
2,079.0 \u00a0
1,558.3 \u00a0
1,373.2 \u00a0
Accounting policy \u00a0
Segment information \u00a0
The segment information is based on internal management reporting and is \u00a0
presented in accordance with the Group\u2019s accounting policies. \u00a0
Segment income and expenses and segment working capital comprise those \u00a0
items that are directly attributable to the individual segment and those items \u00a0
that can be reliably allocated to it. Other items are shown as non-allocated. \u00a0
The reportable segments are generally referred to as business lines. The busi- \u00a0
ness lines consist of Solutions, Applications and Service & Accessories. For \u00a0
further details please refer to the Business review section of each business \u00a0
line in the management review. The Board of Directors assesses the operating \u00a0
results of the business lines separately to enable decisions concerning alloca- \u00a0
tion of resources and measurement of performance. \u00a0
Revenue from Goods and Service are recognized at a point in time and \u00a0
revenue from construction contracts are recognized over time. \u00a0
Inter-segment transactions are performed on market terms. One customer \u00a0
in the Solutions segment comprises more than 10% of the groups total \u00a0
revenue amounting to EUR 390.6m (92.3m in 2022). The geographical \u00a0
disclosure of revenue is based on the country of delivery. \u00a0
Other operating income comprises items of a secondary nature relative to \u00a0
the operations of the Group, including grant schemes, reimbursements and \u00a0
gains on sale of non-current assets, etc. \u00a0
Change in inventories of finished goods and work in progress comprises \u00a0
changes in these items which correspond to staff costs and other costs \u00a0
charged to the income statement during the year and which relate directly or \u00a0
indirectly to the cost of the items stated in the balance sheet. \u00a0
Work performed by the Group and capitalized comprises income which \u00a0
corresponds to staff costs and other costs charged to the income state- \u00a0
ment during the year and which relate directly or indirectly to the capitalized \u00a0
cost of non-current assets of own manufacture. \u00a0
Raw materials, consumables and goods for resale \u00a0
Costs of raw materials, consumables and goods for resale refer to \u00a0
purchases and changes during the year in inventory levels, including \u00a0
shrinkage, waste production and any write-downs for obsolescence. \u00a0
Other costs comprise external costs relating to production, sale and \u00a0
administration, as well as losses on disposal of tangible and intangible \u00a0
assets. Write-downs of receivables from sales are also included. \u00a0
Revenue \u00a0
Revenue from construction contracts with customers with a high degree of \u00a0
individual customization and no alternative use, are recognized as revenue \u00a0
over time, provided that NKT Group has secured an enforceable right to \u00a0
payment for work performed at any time. The revenue therefore corre- \u00a0
sponds to the sales price of work performed during the year (the percent- \u00a0
age-of-completion method). See note 4.4 for further information concerning \u00a0
construction contracts. \u00a0
Revenue from sale of goods for resale and finished goods is recognized \u00a0
in the income statement when control of the goods has transferred to \u00a0
the buyer, normally at delivery, and it is probable that the income will be \u00a0
received. \u00a0
Revenue from services that include service packages and extended \u00a0
warranties relating to products and contracts is recognized over time with \u00a0
the supply of those services. \u00a0
Revenue is measured at the fair value of the expected consideration \u00a0
excluding VAT and taxes charged on behalf of third parties. In determining \u00a0
the transaction price, revenue is reduced by probable penalties and other \u00a0
claims and discounts that are payments to the customers. The transac- \u00a0
tion price is further adjusted for any variable elements of the transaction \u00a0
price. The variable amount is estimated at contract inception and revisited \u00a0
throughout the contract period. Variable income is recognized as revenue \u00a0
when it is highly probable that a significant reversal will not occur. \u00a0
Significant estimates and judgements \u00a0
Cable projects are to a certain degree measured based on management \u00a0
judgement in terms of when to recognize revenue and how to calculate the \u00a0
revenue in terms of percentage-of-completion and estimated profit on \u00a0
each project. The estimates include a risk provision, which is based on \u00a0
an assessment of the specific risks that each project is exposed to. The \u00a0
percentage-of-completion is based on costs incurred against estimated \u00a0
total project costs. In essence, the total project costs are therefore to a \u00a0
large extent based on estimates. \u00a0
Assumptions for the recognition of revenue over time regarding larger cable \u00a0
projects are determined contract by contract. Control is transferred as the \u00a0
project progresses, based on assumptions such as: \u00a0
Deliveries being approved on an ongoing basis \u00a0
\u25a0
\u25a0
NKT Group\u2019s ability to provide products according to specification and the \u00a0
risk that the cable is rejected. \u00a0
Accounting policy \u00a0
Contracts relating to leased equipment are usually \u00a0
made for a fixed period, whereas lease contracts for \u00a0
buildings and land in some instances include an option \u00a0
to extend the lease. When assessing the life of the \u00a0
leases, NKT considers the non-cancellable lease term \u00a0
and options to extend the lease where it is reasonably \u00a0
certain to extend. The lease period of offices and sales \u00a0
buildings are assessed to be approximately 3-10 years, \u00a0
for production facilities 5-10 years and for land up to \u00a0
20 years. For other assets the lease term is equal to \u00a0
the non-cancelable lease period and extensions are \u00a0
not considered. The right-of-use asset is depreciated \u00a0
over the shorter of the asset\u2019s useful life and the lease \u00a0
term on a straight-line basis. \u00a0
Payments related to short-term leases and leases \u00a0
of low-value assets continue to be recognized on \u00a0
a straight-line basis as an expense in the income \u00a0
statement. Low-value assets mainly comprise minor \u00a0
buildings, cars, forklifts, IT-equipment and other office \u00a0
equipment. \u00a0
NKT Group has no leases where the rent is variable \u00a0
depending on revenue, etc. Some contracts are \u00a0
exposed to future increases in variable lease payments \u00a0
based on an index or rate, which are included in the \u00a0
lease liability when they take effect. \u00a0
Property, plant and equipment are measured at cost \u00a0
less accumulated depreciation and impairment losses. \u00a0
4.4 Contract
assets and liabilities \u00a0
Contract assets comprise the sales value of work performed on construc- \u00a0
tion contracts, where NKT Group does not yet possess an unconditional \u00a0
right to payment, as the work performed has not been approved by the \u00a0
customer. Contract liabilities comprise contractual unconditional invoicing \u00a0
for work not yet performed. \u00a0
Amounts in EURm \u00a0
2023 \u00a0
2022 \u00a0
Construction contracts \u00a0
Contract value of work in progress \u00a0
2,876.0 \u00a0
1,614.3 \u00a0
Progress billing \u00a0
-3,607.2 \u00a0
-2,155.4 \u00a0
-731.2 \u00a0
-541.1 \u00a0
Recognized as contract assets \u00a0
106.9 \u00a0
98.2 \u00a0
Recognized as contract liabilities \u00a0
-838.1 \u00a0
-639.3 \u00a0
-731.2 \u00a0
-541.1 \u00a0
Construction contracts \u00a0
838.1 \u00a0
639.3 \u00a0
Prepayments for construction contracts \u00a0
184.3 \u00a0
19.9 \u00a0
Other prepayments from customers \u00a0
9.9 \u00a0
18.4 \u00a0
Deferred income \u00a0
4.3 \u00a0
0.0 \u00a0
Total contract liabilities \u00a0
1,036.6 \u00a0
677.6 \u00a0
Amounts in EURm \u00a0
2023 \u00a0
2022 \u00a0
Contract assets, 1 January \u00a0
98.2 \u00a0
97.3 \u00a0
Addition from revenue recognized \u00a0
85.0 \u00a0
92.7 \u00a0
Transferred to receivables \u00a0
-76.4 \u00a0
-83.1 \u00a0
Transferred to assets held for sale \u00a0
0.0 \u00a0
-2.1 \u00a0
Exchange rate adjustments \u00a0
0.1 \u00a0
-6.6 \u00a0
Contract assets, 31 December \u00a0
106.9 \u00a0
98.2 \u00a0
Contract liabilities, 1 January \u00a0
677.6 \u00a0
459.3 \u00a0
Decrease from revenue recognized \u00a0
-445.1 \u00a0
-278.8 \u00a0
Prepayments received \u00a0
806.3 \u00a0
509.4 \u00a0
Transferred to assets held for sale \u00a0
0.0 \u00a0
-0.5 \u00a0
Exchange rate adjustments \u00a0
-2.2 \u00a0
-11.8 \u00a0
Contract liabilities, 31 December \u00a0
1,036.6 \u00a0
677.6 \u00a0
Expected recognition of revenue: \u00a0
Within 1 year \u00a0
713.0 \u00a0
468.4 \u00a0
Within 1-5 years \u00a0
323.6 \u00a0
209.2 \u00a0
After 5 years \u00a0
0.0 \u00a0
0.0 \u00a0
1,036.6 \u00a0
677.6 \u00a0
Significant estimates \u00a0
Construction contracts are measured based on Management\u2019s judgement \u00a0
in terms of percentage-of-completion and estimated profit on a project-by- \u00a0
project approach to estimate the expected selling prices which affect the \u00a0
value recognized in the balance sheet. The estimate includes a risk provi- \u00a0
sion, which is based on an assessment of the specific risk that each project \u00a0
is exposed to. Therefore, the recognition of revenue and related contract \u00a0
assets and liabilities are subject to uncertainty. Management\u2019s estimates \u00a0
are based on the most likely outcomes of the projects. \u00a0
Accounting policy \u00a0
Construction contracts \u00a0
Construction contracts are measured at the selling price of the work \u00a0
performed less progress billings and anticipated losses. If the value of work \u00a0
performed exceeds progress billings, the excess is recognized as contract \u00a0
assets. and if progress billings exceed the value of work performed, the \u00a0
deficit is recognized as contract liabilities. Prepayments from customers are \u00a0
recognized under contract liabilities. \u00a0
Construction contracts are characterized by a high degree of customization \u00a0
in the design of the cables produced. It is furthermore a requirement that \u00a0
before commencement of the work, a binding contract is signed that will \u00a0
result in a fine or compensation in case of subsequent cancellation. The \u00a0
contract value is measured according to the percentage-of-completion, \u00a0
which is determined on the basis of an assessment of the work performed, \u00a0
calculated as the ratio of expenses incurred compared to total anticipated \u00a0
expenses on the contract concerned. When it is probable that the total \u00a0
contract costs will exceed the total contract revenue, the anticipated loss \u00a0
on the contract is immediately recognized as a provision. \u00a0
When income and expenses on a construction contract cannot be deter- \u00a0
mined reliably, the contract value is measured as the costs incurred which \u00a0
are likely to be recoverable. \u00a0
",
"dimensions": {
"concept": "ifrs-full:DisclosureOfRevenueFromContractsWithCustomersExplanatory",
"language": "en",
"entity": "scheme:529900197LKWCEQ0NL18",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"fact2026": {
"value": "Accounting policy \u00a0
Segment information \u00a0
The segment information is based on internal management reporting and is \u00a0
presented in accordance with the Group\u2019s accounting policies. \u00a0
Segment income and expenses and segment working capital comprise those \u00a0
items that are directly attributable to the individual segment and those items \u00a0
that can be reliably allocated to it. Other items are shown as non-allocated. \u00a0
The reportable segments are generally referred to as business lines. The busi- \u00a0
ness lines consist of Solutions, Applications and Service & Accessories. For \u00a0
further details please refer to the Business review section of each business \u00a0
line in the management review. The Board of Directors assesses the operating \u00a0
results of the business lines separately to enable decisions concerning alloca- \u00a0
tion of resources and measurement of performance. \u00a0
Revenue from Goods and Service are recognized at a point in time and \u00a0
revenue from construction contracts are recognized over time. \u00a0
Inter-segment transactions are performed on market terms. One customer \u00a0
in the Solutions segment comprises more than 10% of the groups total \u00a0
revenue amounting to EUR 390.6m (92.3m in 2022). The geographical \u00a0
disclosure of revenue is based on the country of delivery. \u00a0
Change in inventories of finished goods and work in progress comprises \u00a0
changes in these items which correspond to staff costs and other costs \u00a0
charged to the income statement during the year and which relate directly or \u00a0
indirectly to the cost of the items stated in the balance sheet. \u00a0
Work performed by the Group and capitalized comprises income which \u00a0
corresponds to staff costs and other costs charged to the income state- \u00a0
ment during the year and which relate directly or indirectly to the capitalized \u00a0
cost of non-current assets of own manufacture. \u00a0
Raw materials, consumables and goods for resale \u00a0
Costs of raw materials, consumables and goods for resale refer to \u00a0
purchases and changes during the year in inventory levels, including \u00a0
shrinkage, waste production and any write-downs for obsolescence. \u00a0
Other costs comprise external costs relating to production, sale and \u00a0
administration, as well as losses on disposal of tangible and intangible \u00a0
assets. Write-downs of receivables from sales are also included. \u00a0
",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForSegmentReportingExplanatory",
"language": "en",
"entity": "scheme:529900197LKWCEQ0NL18",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"fact2048": {
"value": "Revenue \u00a0
Revenue from construction contracts with customers with a high degree of \u00a0
individual customization and no alternative use, are recognized as revenue \u00a0
over time, provided that NKT Group has secured an enforceable right to \u00a0
payment for work performed at any time. The revenue therefore corre- \u00a0
sponds to the sales price of work performed during the year (the percent- \u00a0
age-of-completion method). See note 4.4 for further information concerning \u00a0
construction contracts. \u00a0
Revenue from sale of goods for resale and finished goods is recognized \u00a0
in the income statement when control of the goods has transferred to \u00a0
the buyer, normally at delivery, and it is probable that the income will be \u00a0
received. \u00a0
Revenue from services that include service packages and extended \u00a0
warranties relating to products and contracts is recognized over time with \u00a0
the supply of those services. \u00a0
Revenue is measured at the fair value of the expected consideration \u00a0
excluding VAT and taxes charged on behalf of third parties. In determining \u00a0
the transaction price, revenue is reduced by probable penalties and other \u00a0
claims and discounts that are payments to the customers. The transac- \u00a0
tion price is further adjusted for any variable elements of the transaction \u00a0
price. The variable amount is estimated at contract inception and revisited \u00a0
throughout the contract period. Variable income is recognized as revenue \u00a0
when it is highly probable that a significant reversal will not occur. \u00a0
",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForRecognitionOfRevenue",
"language": "en",
"entity": "scheme:529900197LKWCEQ0NL18",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"fact2030": {
"value": "Other operating income comprises items of a secondary nature relative to \u00a0
the operations of the Group, including grant schemes, reimbursements and \u00a0
gains on sale of non-current assets, etc. \u00a0
",
"dimensions": {
"concept": "ifrs-full:DisclosureOfOtherOperatingIncomeExplanatory",
"language": "en",
"entity": "scheme:529900197LKWCEQ0NL18",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"fact2031": {
"value": "Other operating income comprises items of a secondary nature relative to \u00a0
the operations of the Group, including grant schemes, reimbursements and \u00a0
gains on sale of non-current assets, etc. \u00a0
",
"dimensions": {
"concept": "ifrs-full:DisclosureOfOtherOperatingIncomeExpenseExplanatory",
"language": "en",
"entity": "scheme:529900197LKWCEQ0NL18",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"fact2035": {
"value": "Change in inventories of finished goods and work in progress comprises \u00a0
changes in these items which correspond to staff costs and other costs \u00a0
charged to the income statement during the year and which relate directly or \u00a0
indirectly to the cost of the items stated in the balance sheet. \u00a0
Accounting policy \u00a0
Inventories are measured at cost in accordance with the FIFO method or at \u00a0
a weighted average. If the net realizable value is lower than cost, inventories \u00a0
are written down to this lower value. \u00a0
Raw materials, consumables and goods for resale are measured at cost, \u00a0
comprising purchase price plus delivery costs. \u00a0
Finished goods and work in progress are measured at cost, comprising \u00a0
direct costs and production overheads. \u00a0
",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForMeasuringInventories",
"language": "en",
"entity": "scheme:529900197LKWCEQ0NL18",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"fact2036": {
"value": "Change in inventories of finished goods and work in progress comprises \u00a0
changes in these items which correspond to staff costs and other costs \u00a0
charged to the income statement during the year and which relate directly or \u00a0
indirectly to the cost of the items stated in the balance sheet. \u00a0
4.2 Inventories \u00a0
Amounts in EURm \u00a0
2023 \u00a0
2022 \u00a0
Raw materials, consumables \u00a0
and goods for resale \u00a0
145.1 \u00a0
154.5 \u00a0
Work in progress \u00a0
76.4 \u00a0
73.2 \u00a0
Finished goods \u00a0
89.8 \u00a0
107.2 \u00a0
Inventories, 31 December \u00a0
311.3 \u00a0
334.9 \u00a0
Write-down of inventories, 1 January \u00a0
7.4 \u00a0
17.0 \u00a0
Write-down of inventories for the year \u00a0
7.9 \u00a0
1.0 \u00a0
Disposals from sales \u00a0
0.0 \u00a0
0.0 \u00a0
Scrapping \u00a0
-1.8 \u00a0
-7.1 \u00a0
Transfer to assets held for sale \u00a0
0.0 \u00a0
-3.5 \u00a0
Write-down of inventories, 31 December \u00a0
13.5 \u00a0
7.4 \u00a0
Accounting policy \u00a0
Inventories are measured at cost in accordance with the FIFO method or at \u00a0
a weighted average. If the net realizable value is lower than cost, inventories \u00a0
are written down to this lower value. \u00a0
Raw materials, consumables and goods for resale are measured at cost, \u00a0
comprising purchase price plus delivery costs. \u00a0
Finished goods and work in progress are measured at cost, comprising \u00a0
direct costs and production overheads. \u00a0
",
"dimensions": {
"concept": "ifrs-full:DisclosureOfInventoriesExplanatory",
"language": "en",
"entity": "scheme:529900197LKWCEQ0NL18",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"fact2063": {
"value": "2.2 Staff
cost \u00a0
Amounts in EURm \u00a0
2023 \u00a0
2022 \u00a0
Wages and salaries \u00a0
264.7 \u00a0
237.0 \u00a0
Social security costs \u00a0
60.4 \u00a0
50.9 \u00a0
Defined contribution plans \u00a0
14.2 \u00a0
14.6 \u00a0
Total \u00a0
339.3 \u00a0
302.5 \u00a0
Average number of full-time employees \u00a0
4,473 \u00a0
4,062 \u00a0
In 2023, staff costs in NKT Group increased by 12%, and the average \u00a0
number of full-time employees increased by 10%. \u00a0
In NKT Group, most employees are covered by pension schemes, primarily \u00a0
in the form of defined contribution-based plans managed by independent \u00a0
pension funds. \u00a0
NKT Group\u2019s defined benefit plans, primarily relating to the activities in \u00a0
Germany, are recognized at the present value of the actuarially measured \u00a0
obligations. If a plan is not fully covered by plan assets, a plan liability is \u00a0
recognized in the balance sheet. Expenses relating to pension benefits are \u00a0
recognized as staff costs in the income statement. Actuarial gains or losses \u00a0
are recognized in other comprehensive income, EUR 1.4m (EUR 11.7m in \u00a0
2022), see note 3.4 for more information. \u00a0
Amounts in EURt \u00a0
2023 \u00a0
2022 \u00a0
Remuneration to Executive Management \u00a0
Salary \u00a0
1,344 \u00a0
1,469 \u00a0
Bonus \u00a0
722 \u00a0
1,153 \u00a0
Pension \u00a0
85 \u00a0
75 \u00a0
Long-term incentive programs \u00a0
903 \u00a0
1,039 \u00a0
Other benefits \u00a0
117 \u00a0
114 \u00a0
Severance payments \u00a0
1,240 \u00a0
0
Total \u00a0
4,411 \u00a0
3,850 \u00a0
Key management personel consist of Executive Management. Remunera- \u00a0
tion to Executive Management comprise fixed salary, short- and long-term \u00a0
incentive programs and other customary benefits. Long-term incentive \u00a0
programs consist of share-based payment programs. The accounting for \u00a0
share-based payments is presented in details in note 2.3. \u00a0
Remuneration to Executive Management increased in 2023 compared to \u00a0
2022, mainly due to severance payments to the former CEO partly off-set \u00a0
by lower salaries and bonus. For more information on the development, \u00a0
refer to the Remuneration Report available at the website. \u00a0
NKT Group has no related parties holding control. NKT Group's related \u00a0
parties comprise the NKT Group Leadership Team and their close family \u00a0
members. Related parties also include businesses in which the aforemen- \u00a0
tioned have material interests. \u00a0
Amounts in EURt \u00a0
2023 \u00a0
2022 \u00a0
Remuneration to Board members \u00a0
Base remuneration \u00a0
603 \u00a0
576 \u00a0
Audit committee \u00a0
64 \u00a0
48 \u00a0
ESG committee \u00a0
17 \u00a0
13 \u00a0
Nomination committee \u00a0
19 \u00a0
24 \u00a0
Remuneration committee \u00a0
37 \u00a0
33 \u00a0
NKT Photonics working committee \u00a0
16 \u00a0
26 \u00a0
Total \u00a0
756 \u00a0
720 \u00a0
Accounting policy \u00a0
Staff costs comprise wages and salaries, remuneration, pensions, etc., \u00a0
and share-based payment for NKT Group's employees, including Group \u00a0
Management. The Board of Directors does not receive share-based \u00a0
payment. \u00a0
Wages and salaries, social security contributions, leave and sick leave, \u00a0
bonuses and non-monetary benefits are recognized in the financial year in \u00a0
which services are rendered by the employee. When NKT provides long- \u00a0
term employee benefits, the costs are accrued to match the rendering of \u00a0
services. \u00a0
Termination benefits are recognized when an agreement has been reached \u00a0
between NKT and the employee and no future service is rendered by the \u00a0
employee in exchange for the benefits. \u00a0
2.3 Share-based
payment \u00a0
Long-term incentive programs for Executive Management \u00a0
and Group Leadership Team \u00a0
The decision to award performance shares to the Executive Management, \u00a0
the Group Leadership Team (GLT) and selected employees is made each \u00a0
year at the discretion of the Board of Directors after recommendation from \u00a0
the Remuneration Committee. The awarded shares represent a conditional \u00a0
right to receive shares after a three-year performance period at nil payment. \u00a0
The Board of Directors may decide to make cash awards in a given year. \u00a0
The performance shares vest subject to continued employment and the \u00a0
achievement of certain performance targets over a three-year period. \u00a0
For more information on the grant of performance shares, refer to the \u00a0
Group\u2019s Remuneration Report available on the website. \u00a0
In 2023, a new performance share program was awarded to 20 participants \u00a0
(18 in 2022) with a vesting period of 3 years. All programs contain two key \u00a0
performance targets, one relating to operational EBITDA, and one relating \u00a0
to Total Shareholder Return (TSR). The total market value at award date \u00a0
was EUR 2.5m (EUR 2.5m in 2022). \u00a0
For the 2021 program, both the TSR target and EBITDA target were met \u00a0
and 66,400 shares will vest in February 2024. \u00a0
Costs relating to share-based payments in 2023 was EUR 2.4m (EUR 2.7 in \u00a0
2022). The reduced costs was mainly due to the former CEO forfeiting the \u00a0
2022 program. \u00a0
Remaining value to be expensed relating to current programs is EUR 2.6m \u00a0
(EUR 2.6m in 2022). The weighted average remaining contractual life of \u00a0
performance shares at the end of the period was 1.1 years (1.1 years in \u00a0
2022). \u00a0
Assumptions \u00a0
At grant date the fair value of awarded Performance shares has been calcu- \u00a0
lated based on the number of awarded shares, the percentage of shares \u00a0
expected to vest as well as the share price at grant date. As dividends are not \u00a0
expected they have not been incorporated into the measurement of fair value. \u00a0
Performance shares \u00a0
Executive \u00a0
Other \u00a0
outstanding \u00a0
management employees \u00a0
Total \u00a0
1 January 2022 \u00a0
67,948 \u00a0
143,097 \u00a0
211,045 \u00a0
Shares granted during the year \u00a0
30,554 \u00a0
42,335 \u00a0
72,889 \u00a0
Shares vested during the year \u00a0
and other movements \u00a0
-10,586 \u00a0
-50,908 \u00a0
-61,494 \u00a0
31 December 2022 \u00a0
87,916 \u00a0
134,524 \u00a0
222,440 \u00a0
1 January 2023 \u00a0
87,916 \u00a0
134,524 \u00a0
222,440 \u00a0
Shares granted during the year \u00a0
24,357 \u00a0
37,182 \u00a0
61,539 \u00a0
Shares vested during the year \u00a0
and other movements \u00a0
-65,598 \u00a0
-39,929 \u00a0
-105,527 \u00a0
31 December 2023 \u00a0
46,675 \u00a0
131,777 \u00a0
178,452 \u00a0
Accounting policy \u00a0
The share-based payments contain internal performance measures and \u00a0
external market return measures. At the grant date the value of services \u00a0
received in exchange for share-based payments are measured at the fair \u00a0
value. The fair value of share-based payments is estimated using a valu- \u00a0
ation model that takes into account the terms and conditions upon which \u00a0
granting took place. During the vesting period, the costs related to the \u00a0
plans are recognized as staff costs and an equal amount is recognized in \u00a0
equity. For the internal performance targets, costs are recognized over the \u00a0
vesting period based on the number of shares expected to vest, whereas \u00a0
for the market return elements, costs are recognized over the vesting \u00a0
period disregarding any changes in the number of shares expected to vest. \u00a0
3.4 Provisions
and pension liabilities \u00a0
Warranty Restructuring \u00a0
Other \u00a0
Pension \u00a0
Amounts in EURm \u00a0
provision \u00a0
provision \u00a0
provisions liabilities,
net \u00a0
Total \u00a0
Provisions, 1 January 2023 \u00a0
0.9 \u00a0
9.2 \u00a0
24.0 \u00a0
41.3 \u00a0
75.4 \u00a0
Additions in the year \u00a0
3.3 \u00a0
0.2 \u00a0
19.4 \u00a0
1.6 \u00a0
24.5 \u00a0
Used during the year \u00a0
-0.1 \u00a0
-3.6 \u00a0
-4.4 \u00a0
-2.0 \u00a0
-10.1 \u00a0
Reversed during the year \u00a0
-0.2 \u00a0
-0.3 \u00a0
-7.9 \u00a0
0.0 \u00a0
-8.4 \u00a0
Exchange rate adjustment \u00a0
0.0 \u00a0
0.1 \u00a0
0.4 \u00a0
0.0 \u00a0
0.5 \u00a0
Actuarial gains/losses on defined benefit pension plans \u00a0
0.0 \u00a0
0.0 \u00a0
0.0 \u00a0
-1.4 \u00a0
-1.4 \u00a0
Provisions, 31 December 2023 \u00a0
3.9 \u00a0
5.6 \u00a0
31.5 \u00a0
39.5 \u00a0
80.5 \u00a0
Provisions are recognized in the balance sheet as: \u00a0
Non-current liabilities \u00a0
0.0 \u00a0
0.4 \u00a0
10.8 \u00a0
39.5 \u00a0
50.7 \u00a0
Current liabilities \u00a0
3.9 \u00a0
5.2 \u00a0
20.7 \u00a0
0.0 \u00a0
29.8 \u00a0
Total \u00a0
3.9 \u00a0
5.6 \u00a0
31.5 \u00a0
39.5 \u00a0
80.5 \u00a0
Actuarial gains related to the pension liabilities are recognized in other \u00a0
comprehensive income. The pension liability also include other long term \u00a0
benefits relating to anniversary bonuses, etc., amounting to EUR 2.2m (EUR \u00a0
2.0m in 2022). At the end of 2023, there were no plan assets to be offset in \u00a0
the present value of the liability. \u00a0
Actuarial assumptions applied \u00a0
2023 \u00a0
2022 \u00a0
Discount rate \u00a0
3.8% \u00a0
3.4% \u00a0
Future salary increases \u00a0
3.0% \u00a0
3.0% \u00a0
Future pension increases \u00a0
2.3% \u00a0
2.2% \u00a0
Sensitivity analysis \u00a0
The table below shows the sensitivity of the liability to changes in key \u00a0
assumptions for the measurement of the pension liabilities, net. The analysis \u00a0
is based on the changes in the applied key assumptions considered reason- \u00a0
ably likely provided the other parameters in the calculation are unchanged. \u00a0
Amounts in EURm \u00a0
2023 \u00a0
2022 \u00a0
+0.5%-point in discount rate \u00a0
-2.0 \u00a0
-2.2 \u00a0
-0.5%-point in discount rate \u00a0
2.2 \u00a0
2.5 \u00a0
+0.5%-point in future pension increase \u00a0
2.0 \u00a0
2.2 \u00a0
-0.5%-point in future pension increase \u00a0
-1.9 \u00a0
-2.0 \u00a0
A change in the salary increase of 0.5%-points is not considered to have a \u00a0
material effect. \u00a0
Accounting policy \u00a0
The provisions recognized are Management\u2019s best estimate of the amount \u00a0
required to settle the obligation. Warranty provisions are recognized in \u00a0
connection with the sale of goods and services based on the level of \u00a0
warranty expenses incurred in previous years. Restructuring costs are \u00a0
recognized under liabilities when a detailed, formal restructuring plan is \u00a0
announced to the affected parties on or before the balance sheet date. A \u00a0
provision for onerous contracts is recognized when the expected benefits \u00a0
to be derived by the Group from a contract are lower than the Group\u2019s \u00a0
unavoidable costs for meeting its contractual obligations. Provisions for \u00a0
dismantling are measured at the present value of the expected cost at the \u00a0
balance sheet date. The present value of the costs is included in the cost \u00a0
of the relevant tangible assets and depreciated accordingly. The addition \u00a0
of interests on provisions are recognized in the income statement under \u00a0
financial expenses. \u00a0
For the Group\u2019s defined benefit plans, an annual actuarial calculation \u00a0
(the Projected Unit Credit Method) of the present value of future benefits \u00a0
payable under the plan is provided. The present value is determined based \u00a0
on assumptions about the future development in variables such as salary \u00a0
levels, interest rates, inflation and mortality. The present value is determined \u00a0
only for benefits earned by employees from their employment within the \u00a0
Group. The actuarial present value less the fair value of any plan assets is \u00a0
recognized in the balance sheet under pension liabilities. \u00a0
Pension expenses and other long-term employee benefits are recognized \u00a0
in the income statement based on actuarial estimates and financial expec- \u00a0
tations at the start of the year. Actuarial gains or losses are recognized in \u00a0
other comprehensive income. \u00a0
If a pension plan constitutes a net asset, the asset is only recognized if it \u00a0
offsets cumulative actuarial losses or future refunds from the plan, or if it will \u00a0
lead to reduced future payments to the plan. \u00a0
",
"dimensions": {
"concept": "ifrs-full:DisclosureOfEmployeeBenefitsExplanatory",
"language": "en",
"entity": "scheme:529900197LKWCEQ0NL18",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"fact2064": {
"value": "Average number of full-time employees \u00a0
4,473 \u00a0
4,062 \u00a0
",
"dimensions": {
"concept": "ifrs-full:DisclosureOfInformationAboutEmployeesExplanatory",
"language": "en",
"entity": "scheme:529900197LKWCEQ0NL18",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"fact2071": {
"value": "Amounts in EURt \u00a0
2023 \u00a0
2022 \u00a0
Remuneration to Executive Management \u00a0
Salary \u00a0
1,344 \u00a0
1,469 \u00a0
Bonus \u00a0
722 \u00a0
1,153 \u00a0
Pension \u00a0
85 \u00a0
75 \u00a0
Long-term incentive programs \u00a0
903 \u00a0
1,039 \u00a0
Other benefits \u00a0
117 \u00a0
114 \u00a0
Severance payments \u00a0
1,240 \u00a0
0
Total \u00a0
4,411 \u00a0
3,850 \u00a0
Key management personel consist of Executive Management. Remunera- \u00a0
tion to Executive Management comprise fixed salary, short- and long-term \u00a0
incentive programs and other customary benefits. Long-term incentive \u00a0
programs consist of share-based payment programs. The accounting for \u00a0
share-based payments is presented in details in note 2.3. \u00a0
Remuneration to Executive Management increased in 2023 compared to \u00a0
2022, mainly due to severance payments to the former CEO partly off-set \u00a0
by lower salaries and bonus. For more information on the development, \u00a0
refer to the Remuneration Report available at the website. \u00a0
Amounts in EURt \u00a0
2023 \u00a0
2022 \u00a0
Remuneration to Board members \u00a0
Base remuneration \u00a0
603 \u00a0
576 \u00a0
Audit committee \u00a0
64 \u00a0
48 \u00a0
ESG committee \u00a0
17 \u00a0
13 \u00a0
Nomination committee \u00a0
19 \u00a0
24 \u00a0
Remuneration committee \u00a0
37 \u00a0
33 \u00a0
NKT Photonics working committee \u00a0
16 \u00a0
26 \u00a0
Total \u00a0
756 \u00a0
720 \u00a0
2.3 Share-based
payment \u00a0
Long-term incentive programs for Executive Management \u00a0
and Group Leadership Team \u00a0
The decision to award performance shares to the Executive Management, \u00a0
the Group Leadership Team (GLT) and selected employees is made each \u00a0
year at the discretion of the Board of Directors after recommendation from \u00a0
the Remuneration Committee. The awarded shares represent a conditional \u00a0
right to receive shares after a three-year performance period at nil payment. \u00a0
The Board of Directors may decide to make cash awards in a given year. \u00a0
The performance shares vest subject to continued employment and the \u00a0
achievement of certain performance targets over a three-year period. \u00a0
For more information on the grant of performance shares, refer to the \u00a0
Group\u2019s Remuneration Report available on the website. \u00a0
In 2023, a new performance share program was awarded to 20 participants \u00a0
(18 in 2022) with a vesting period of 3 years. All programs contain two key \u00a0
performance targets, one relating to operational EBITDA, and one relating \u00a0
to Total Shareholder Return (TSR). The total market value at award date \u00a0
was EUR 2.5m (EUR 2.5m in 2022). \u00a0
For the 2021 program, both the TSR target and EBITDA target were met \u00a0
and 66,400 shares will vest in February 2024. \u00a0
Costs relating to share-based payments in 2023 was EUR 2.4m (EUR 2.7 in \u00a0
2022). The reduced costs was mainly due to the former CEO forfeiting the \u00a0
2022 program. \u00a0
Remaining value to be expensed relating to current programs is EUR 2.6m \u00a0
(EUR 2.6m in 2022). The weighted average remaining contractual life of \u00a0
performance shares at the end of the period was 1.1 years (1.1 years in \u00a0
2022). \u00a0
Assumptions \u00a0
At grant date the fair value of awarded Performance shares has been calcu- \u00a0
lated based on the number of awarded shares, the percentage of shares \u00a0
expected to vest as well as the share price at grant date. As dividends are not \u00a0
expected they have not been incorporated into the measurement of fair value. \u00a0
Performance shares \u00a0
Executive \u00a0
Other \u00a0
outstanding \u00a0
management employees \u00a0
Total \u00a0
1 January 2022 \u00a0
67,948 \u00a0
143,097 \u00a0
211,045 \u00a0
Shares granted during the year \u00a0
30,554 \u00a0
42,335 \u00a0
72,889 \u00a0
Shares vested during the year \u00a0
and other movements \u00a0
-10,586 \u00a0
-50,908 \u00a0
-61,494 \u00a0
31 December 2022 \u00a0
87,916 \u00a0
134,524 \u00a0
222,440 \u00a0
1 January 2023 \u00a0
87,916 \u00a0
134,524 \u00a0
222,440 \u00a0
Shares granted during the year \u00a0
24,357 \u00a0
37,182 \u00a0
61,539 \u00a0
Shares vested during the year \u00a0
and other movements \u00a0
-65,598 \u00a0
-39,929 \u00a0
-105,527 \u00a0
31 December 2023 \u00a0
46,675 \u00a0
131,777 \u00a0
178,452 \u00a0
Accounting policy \u00a0
The share-based payments contain internal performance measures and \u00a0
external market return measures. At the grant date the value of services \u00a0
received in exchange for share-based payments are measured at the fair \u00a0
value. The fair value of share-based payments is estimated using a valu- \u00a0
ation model that takes into account the terms and conditions upon which \u00a0
granting took place. During the vesting period, the costs related to the \u00a0
plans are recognized as staff costs and an equal amount is recognized in \u00a0
equity. For the internal performance targets, costs are recognized over the \u00a0
vesting period based on the number of shares expected to vest, whereas \u00a0
for the market return elements, costs are recognized over the vesting \u00a0
period disregarding any changes in the number of shares expected to vest. \u00a0
",
"dimensions": {
"concept": "ifrs-full:DisclosureOfInformationAboutKeyManagementPersonnelExplanatory",
"language": "en",
"entity": "scheme:529900197LKWCEQ0NL18",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"fact2067": {
"value": "In NKT Group, most employees are covered by pension schemes, primarily \u00a0
in the form of defined contribution-based plans managed by independent \u00a0
pension funds. \u00a0
NKT Group\u2019s defined benefit plans, primarily relating to the activities in \u00a0
Germany, are recognized at the present value of the actuarially measured \u00a0
obligations. If a plan is not fully covered by plan assets, a plan liability is \u00a0
recognized in the balance sheet. Expenses relating to pension benefits are \u00a0
recognized as staff costs in the income statement. Actuarial gains or losses \u00a0
are recognized in other comprehensive income, EUR 1.4m (EUR 11.7m in \u00a0
2022), see note 3.4 for more information. \u00a0
3.4 Provisions
and pension liabilities \u00a0
Warranty Restructuring \u00a0
Other \u00a0
Pension \u00a0
Amounts in EURm \u00a0
provision \u00a0
provision \u00a0
provisions liabilities,
net \u00a0
Total \u00a0
Provisions, 1 January 2023 \u00a0
0.9 \u00a0
9.2 \u00a0
24.0 \u00a0
41.3 \u00a0
75.4 \u00a0
Additions in the year \u00a0
3.3 \u00a0
0.2 \u00a0
19.4 \u00a0
1.6 \u00a0
24.5 \u00a0
Used during the year \u00a0
-0.1 \u00a0
-3.6 \u00a0
-4.4 \u00a0
-2.0 \u00a0
-10.1 \u00a0
Reversed during the year \u00a0
-0.2 \u00a0
-0.3 \u00a0
-7.9 \u00a0
0.0 \u00a0
-8.4 \u00a0
Exchange rate adjustment \u00a0
0.0 \u00a0
0.1 \u00a0
0.4 \u00a0
0.0 \u00a0
0.5 \u00a0
Actuarial gains/losses on defined benefit pension plans \u00a0
0.0 \u00a0
0.0 \u00a0
0.0 \u00a0
-1.4 \u00a0
-1.4 \u00a0
Provisions, 31 December 2023 \u00a0
3.9 \u00a0
5.6 \u00a0
31.5 \u00a0
39.5 \u00a0
80.5 \u00a0
Provisions are recognized in the balance sheet as: \u00a0
Non-current liabilities \u00a0
0.0 \u00a0
0.4 \u00a0
10.8 \u00a0
39.5 \u00a0
50.7 \u00a0
Current liabilities \u00a0
3.9 \u00a0
5.2 \u00a0
20.7 \u00a0
0.0 \u00a0
29.8 \u00a0
Total \u00a0
3.9 \u00a0
5.6 \u00a0
31.5 \u00a0
39.5 \u00a0
80.5 \u00a0
Actuarial gains related to the pension liabilities are recognized in other \u00a0
comprehensive income. The pension liability also include other long term \u00a0
benefits relating to anniversary bonuses, etc., amounting to EUR 2.2m (EUR \u00a0
2.0m in 2022). At the end of 2023, there were no plan assets to be offset in \u00a0
the present value of the liability. \u00a0
Actuarial assumptions applied \u00a0
2023 \u00a0
2022 \u00a0
Discount rate \u00a0
3.8% \u00a0
3.4% \u00a0
Future salary increases \u00a0
3.0% \u00a0
3.0% \u00a0
Future pension increases \u00a0
2.3% \u00a0
2.2% \u00a0
Sensitivity analysis \u00a0
The table below shows the sensitivity of the liability to changes in key \u00a0
assumptions for the measurement of the pension liabilities, net. The analysis \u00a0
is based on the changes in the applied key assumptions considered reason- \u00a0
ably likely provided the other parameters in the calculation are unchanged. \u00a0
Amounts in EURm \u00a0
2023 \u00a0
2022 \u00a0
+0.5%-point in discount rate \u00a0
-2.0 \u00a0
-2.2 \u00a0
-0.5%-point in discount rate \u00a0
2.2 \u00a0
2.5 \u00a0
+0.5%-point in future pension increase \u00a0
2.0 \u00a0
2.2 \u00a0
-0.5%-point in future pension increase \u00a0
-1.9 \u00a0
-2.0 \u00a0
A change in the salary increase of 0.5%-points is not considered to have a \u00a0
material effect. \u00a0
Accounting policy \u00a0
The provisions recognized are Management\u2019s best estimate of the amount \u00a0
required to settle the obligation. Warranty provisions are recognized in \u00a0
connection with the sale of goods and services based on the level of \u00a0
warranty expenses incurred in previous years. Restructuring costs are \u00a0
recognized under liabilities when a detailed, formal restructuring plan is \u00a0
announced to the affected parties on or before the balance sheet date. A \u00a0
provision for onerous contracts is recognized when the expected benefits \u00a0
to be derived by the Group from a contract are lower than the Group\u2019s \u00a0
unavoidable costs for meeting its contractual obligations. Provisions for \u00a0
dismantling are measured at the present value of the expected cost at the \u00a0
balance sheet date. The present value of the costs is included in the cost \u00a0
of the relevant tangible assets and depreciated accordingly. The addition \u00a0
of interests on provisions are recognized in the income statement under \u00a0
financial expenses. \u00a0
For the Group\u2019s defined benefit plans, an annual actuarial calculation \u00a0
(the Projected Unit Credit Method) of the present value of future benefits \u00a0
payable under the plan is provided. The present value is determined based \u00a0
on assumptions about the future development in variables such as salary \u00a0
levels, interest rates, inflation and mortality. The present value is determined \u00a0
only for benefits earned by employees from their employment within the \u00a0
Group. The actuarial present value less the fair value of any plan assets is \u00a0
recognized in the balance sheet under pension liabilities. \u00a0
Pension expenses and other long-term employee benefits are recognized \u00a0
in the income statement based on actuarial estimates and financial expec- \u00a0
tations at the start of the year. Actuarial gains or losses are recognized in \u00a0
other comprehensive income. \u00a0
If a pension plan constitutes a net asset, the asset is only recognized if it \u00a0
offsets cumulative actuarial losses or future refunds from the plan, or if it will \u00a0
lead to reduced future payments to the plan. \u00a0
",
"dimensions": {
"concept": "ifrs-full:DisclosureOfDefinedBenefitPlansExplanatory",
"language": "en",
"entity": "scheme:529900197LKWCEQ0NL18",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"fact2080": {
"value": "Accounting policy \u00a0
Staff costs comprise wages and salaries, remuneration, pensions, etc., \u00a0
and share-based payment for NKT Group's employees, including Group \u00a0
Management. The Board of Directors does not receive share-based \u00a0
payment. \u00a0
Wages and salaries, social security contributions, leave and sick leave, \u00a0
bonuses and non-monetary benefits are recognized in the financial year in \u00a0
which services are rendered by the employee. When NKT provides long- \u00a0
term employee benefits, the costs are accrued to match the rendering of \u00a0
services. \u00a0
Termination benefits are recognized when an agreement has been reached \u00a0
between NKT and the employee and no future service is rendered by the \u00a0
employee in exchange for the benefits. \u00a0
Accounting policy \u00a0
The share-based payments contain internal performance measures and \u00a0
external market return measures. At the grant date the value of services \u00a0
received in exchange for share-based payments are measured at the fair \u00a0
value. The fair value of share-based payments is estimated using a valu- \u00a0
ation model that takes into account the terms and conditions upon which \u00a0
granting took place. During the vesting period, the costs related to the \u00a0
plans are recognized as staff costs and an equal amount is recognized in \u00a0
equity. For the internal performance targets, costs are recognized over the \u00a0
vesting period based on the number of shares expected to vest, whereas \u00a0
for the market return elements, costs are recognized over the vesting \u00a0
period disregarding any changes in the number of shares expected to vest. \u00a0
Accounting policy \u00a0
The provisions recognized are Management\u2019s best estimate of the amount \u00a0
required to settle the obligation. Warranty provisions are recognized in \u00a0
connection with the sale of goods and services based on the level of \u00a0
warranty expenses incurred in previous years. Restructuring costs are \u00a0
recognized under liabilities when a detailed, formal restructuring plan is \u00a0
announced to the affected parties on or before the balance sheet date. A \u00a0
provision for onerous contracts is recognized when the expected benefits \u00a0
to be derived by the Group from a contract are lower than the Group\u2019s \u00a0
unavoidable costs for meeting its contractual obligations. Provisions for \u00a0
dismantling are measured at the present value of the expected cost at the \u00a0
balance sheet date. The present value of the costs is included in the cost \u00a0
of the relevant tangible assets and depreciated accordingly. The addition \u00a0
of interests on provisions are recognized in the income statement under \u00a0
financial expenses. \u00a0
For the Group\u2019s defined benefit plans, an annual actuarial calculation \u00a0
(the Projected Unit Credit Method) of the present value of future benefits \u00a0
payable under the plan is provided. The present value is determined based \u00a0
on assumptions about the future development in variables such as salary \u00a0
levels, interest rates, inflation and mortality. The present value is determined \u00a0
only for benefits earned by employees from their employment within the \u00a0
Group. The actuarial present value less the fair value of any plan assets is \u00a0
recognized in the balance sheet under pension liabilities. \u00a0
Pension expenses and other long-term employee benefits are recognized \u00a0
in the income statement based on actuarial estimates and financial expec- \u00a0
tations at the start of the year. Actuarial gains or losses are recognized in \u00a0
other comprehensive income. \u00a0
If a pension plan constitutes a net asset, the asset is only recognized if it \u00a0
offsets cumulative actuarial losses or future refunds from the plan, or if it will \u00a0
lead to reduced future payments to the plan. \u00a0
",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForEmployeeBenefitsExplanatory",
"language": "en",
"entity": "scheme:529900197LKWCEQ0NL18",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"fact2075": {
"value": "NKT Group has no related parties holding control. NKT Group's related \u00a0
parties comprise the NKT Group Leadership Team and their close family \u00a0
members. Related parties also include businesses in which the aforemen- \u00a0
tioned have material interests. \u00a0
Amounts in EURt \u00a0
2023 \u00a0
2022 \u00a0
Remuneration to Board members \u00a0
Base remuneration \u00a0
603 \u00a0
576 \u00a0
Audit committee \u00a0
64 \u00a0
48 \u00a0
ESG committee \u00a0
17 \u00a0
13 \u00a0
Nomination committee \u00a0
19 \u00a0
24 \u00a0
Remuneration committee \u00a0
37 \u00a0
33 \u00a0
NKT Photonics working committee \u00a0
16 \u00a0
26 \u00a0
Total \u00a0
756 \u00a0
720 \u00a0
2.3 Share-based
payment \u00a0
Long-term incentive programs for Executive Management \u00a0
and Group Leadership Team \u00a0
The decision to award performance shares to the Executive Management, \u00a0
the Group Leadership Team (GLT) and selected employees is made each \u00a0
year at the discretion of the Board of Directors after recommendation from \u00a0
the Remuneration Committee. The awarded shares represent a conditional \u00a0
right to receive shares after a three-year performance period at nil payment. \u00a0
The Board of Directors may decide to make cash awards in a given year. \u00a0
The performance shares vest subject to continued employment and the \u00a0
achievement of certain performance targets over a three-year period. \u00a0
For more information on the grant of performance shares, refer to the \u00a0
Group\u2019s Remuneration Report available on the website. \u00a0
In 2023, a new performance share program was awarded to 20 participants \u00a0
(18 in 2022) with a vesting period of 3 years. All programs contain two key \u00a0
performance targets, one relating to operational EBITDA, and one relating \u00a0
to Total Shareholder Return (TSR). The total market value at award date \u00a0
was EUR 2.5m (EUR 2.5m in 2022). \u00a0
For the 2021 program, both the TSR target and EBITDA target were met \u00a0
and 66,400 shares will vest in February 2024. \u00a0
Costs relating to share-based payments in 2023 was EUR 2.4m (EUR 2.7 in \u00a0
2022). The reduced costs was mainly due to the former CEO forfeiting the \u00a0
2022 program. \u00a0
Remaining value to be expensed relating to current programs is EUR 2.6m \u00a0
(EUR 2.6m in 2022). The weighted average remaining contractual life of \u00a0
performance shares at the end of the period was 1.1 years (1.1 years in \u00a0
2022). \u00a0
Assumptions \u00a0
At grant date the fair value of awarded Performance shares has been calcu- \u00a0
lated based on the number of awarded shares, the percentage of shares \u00a0
expected to vest as well as the share price at grant date. As dividends are not \u00a0
expected they have not been incorporated into the measurement of fair value. \u00a0
Performance shares \u00a0
Executive \u00a0
Other \u00a0
outstanding \u00a0
management employees \u00a0
Total \u00a0
1 January 2022 \u00a0
67,948 \u00a0
143,097 \u00a0
211,045 \u00a0
Shares granted during the year \u00a0
30,554 \u00a0
42,335 \u00a0
72,889 \u00a0
Shares vested during the year \u00a0
and other movements \u00a0
-10,586 \u00a0
-50,908 \u00a0
-61,494 \u00a0
31 December 2022 \u00a0
87,916 \u00a0
134,524 \u00a0
222,440 \u00a0
1 January 2023 \u00a0
87,916 \u00a0
134,524 \u00a0
222,440 \u00a0
Shares granted during the year \u00a0
24,357 \u00a0
37,182 \u00a0
61,539 \u00a0
Shares vested during the year \u00a0
and other movements \u00a0
-65,598 \u00a0
-39,929 \u00a0
-105,527 \u00a0
31 December 2023 \u00a0
46,675 \u00a0
131,777 \u00a0
178,452 \u00a0
Accounting policy \u00a0
The share-based payments contain internal performance measures and \u00a0
external market return measures. At the grant date the value of services \u00a0
received in exchange for share-based payments are measured at the fair \u00a0
value. The fair value of share-based payments is estimated using a valu- \u00a0
ation model that takes into account the terms and conditions upon which \u00a0
granting took place. During the vesting period, the costs related to the \u00a0
plans are recognized as staff costs and an equal amount is recognized in \u00a0
equity. For the internal performance targets, costs are recognized over the \u00a0
vesting period based on the number of shares expected to vest, whereas \u00a0
for the market return elements, costs are recognized over the vesting \u00a0
period disregarding any changes in the number of shares expected to vest. \u00a0
6.2 Group
companies \u00a0
Group companies \u00a0
Domicile \u00a0
NKT Group \u00a0
Denmark \u00a0
NKT Cables Group A/S \u00a0
Denmark \u00a0
NKT (Denmark) A/S \u00a0
Denmark \u00a0
NKT Invest A/S \u00a0
Denmark \u00a0
Europe \u00a0
NKT Group GmbH1 \u00a0
Germany \u00a0
NKT Verwaltungs GmbH \u00a0
Germany \u00a0
NKT GmbH & Co. KG \u00a0
Germany \u00a0
NKT GmbH \u00a0
Germany \u00a0
Zweite NKT GmbH \u00a0
Germany \u00a0
NKT s.r.o. \u00a0
Czech Republic \u00a0
NKT (Ib\u00e9rica) S.L. \u00a0
Spain \u00a0
NKT (Sweden) AB \u00a0
Sweden \u00a0
NKT HV Cables AB \u00a0
Sweden \u00a0
NKT AS \u00a0
Norway \u00a0
NKT HVC AS \u00a0
Norway \u00a0
NKT (U.K.) Ltd. \u00a0
UK \u00a0
NKT HVC Ltd. \u00a0
UK \u00a0
Ventcroft Ltd. \u00a0
UK \u00a0
NKT S.A. \u00a0
Poland \u00a0
NKT HVC B.V. \u00a0
Netherlands \u00a0
NKT HV Cables GmbH \u00a0
Switzerland \u00a0
NKT Lithuania, UAB \u00a0
Lithuania \u00a0
America \u00a0
NKT, Inc \u00a0
US \u00a0
Group companies \u00a0
Domicile \u00a0
Middle East \u00a0
NKT Middle East DMCC \u00a0
Dubai \u00a0
Asia/Pacific \u00a0
NKT Pty Ltd \u00a0
Australia \u00a0
NKT South Asia Private Limited \u00a0
India \u00a0
NKT Operations India Private Limited \u00a0
India \u00a0
Walsin Energy Cable System Co. Ltd2 \u00a0
Taiwan \u00a0
NKT Photonics Group \u00a0
Denmark \u00a0
NKT Photonics A/S \u00a0
Denmark \u00a0
Europe \u00a0
NKT Photonics Technology GmbH \u00a0
Germany \u00a0
Advanced Laserdiode Systems A.L.S. GmbH \u00a0
Germany \u00a0
NKT Photonics Switzerland GmbH \u00a0
Switzerland \u00a0
NKT Photonics Holding Ltd \u00a0
UK \u00a0
NKT Photonics Ltd \u00a0
UK \u00a0
NKT Photonics AB \u00a0
Sweden \u00a0
America \u00a0
NKT Photonics Inc. \u00a0
US \u00a0
Asia/Pacific \u00a0
NKT Photonics (Zhenzhen) Co., Ltd. \u00a0
China \u00a0
Fianium Asia Ltd. \u00a0
Hong Kong \u00a0
All Group companies are wholly owned. \u00a0
Companies without material interest and dormant companies are omitted from the list. \u00a0
1 The Group has applied Section 264 (3) of the German Commercial Code (\u201cHandelsgesetzbuch\u201d) by which NKT Group GmbH is exempted from \u00a0
filing local financial statement. \u00a0
2 The owned share in the entity is 10 %. The entity is treated as an associated company in accordance with IAS 28. \u00a0
",
"dimensions": {
"concept": "ifrs-full:DisclosureOfRelatedPartyExplanatory",
"language": "en",
"entity": "scheme:529900197LKWCEQ0NL18",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"fact2087": {
"value": "Termination benefits are recognized when an agreement has been reached \u00a0
between NKT and the employee and no future service is rendered by the \u00a0
employee in exchange for the benefits. \u00a0
",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForTerminationBenefits",
"language": "en",
"entity": "scheme:529900197LKWCEQ0NL18",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"fact2089": {
"value": "2.3 Share-based
payment \u00a0
Long-term incentive programs for Executive Management \u00a0
and Group Leadership Team \u00a0
The decision to award performance shares to the Executive Management, \u00a0
the Group Leadership Team (GLT) and selected employees is made each \u00a0
year at the discretion of the Board of Directors after recommendation from \u00a0
the Remuneration Committee. The awarded shares represent a conditional \u00a0
right to receive shares after a three-year performance period at nil payment. \u00a0
The Board of Directors may decide to make cash awards in a given year. \u00a0
The performance shares vest subject to continued employment and the \u00a0
achievement of certain performance targets over a three-year period. \u00a0
For more information on the grant of performance shares, refer to the \u00a0
Group\u2019s Remuneration Report available on the website. \u00a0
In 2023, a new performance share program was awarded to 20 participants \u00a0
(18 in 2022) with a vesting period of 3 years. All programs contain two key \u00a0
performance targets, one relating to operational EBITDA, and one relating \u00a0
to Total Shareholder Return (TSR). The total market value at award date \u00a0
was EUR 2.5m (EUR 2.5m in 2022). \u00a0
For the 2021 program, both the TSR target and EBITDA target were met \u00a0
and 66,400 shares will vest in February 2024. \u00a0
Costs relating to share-based payments in 2023 was EUR 2.4m (EUR 2.7 in \u00a0
2022). The reduced costs was mainly due to the former CEO forfeiting the \u00a0
2022 program. \u00a0
Remaining value to be expensed relating to current programs is EUR 2.6m \u00a0
(EUR 2.6m in 2022). The weighted average remaining contractual life of \u00a0
performance shares at the end of the period was 1.1 years (1.1 years in \u00a0
2022). \u00a0
Assumptions \u00a0
At grant date the fair value of awarded Performance shares has been calcu- \u00a0
lated based on the number of awarded shares, the percentage of shares \u00a0
expected to vest as well as the share price at grant date. As dividends are not \u00a0
expected they have not been incorporated into the measurement of fair value. \u00a0
Performance shares \u00a0
Executive \u00a0
Other \u00a0
outstanding \u00a0
management employees \u00a0
Total \u00a0
1 January 2022 \u00a0
67,948 \u00a0
143,097 \u00a0
211,045 \u00a0
Shares granted during the year \u00a0
30,554 \u00a0
42,335 \u00a0
72,889 \u00a0
Shares vested during the year \u00a0
and other movements \u00a0
-10,586 \u00a0
-50,908 \u00a0
-61,494 \u00a0
31 December 2022 \u00a0
87,916 \u00a0
134,524 \u00a0
222,440 \u00a0
1 January 2023 \u00a0
87,916 \u00a0
134,524 \u00a0
222,440 \u00a0
Shares granted during the year \u00a0
24,357 \u00a0
37,182 \u00a0
61,539 \u00a0
Shares vested during the year \u00a0
and other movements \u00a0
-65,598 \u00a0
-39,929 \u00a0
-105,527 \u00a0
31 December 2023 \u00a0
46,675 \u00a0
131,777 \u00a0
178,452 \u00a0
Accounting policy \u00a0
The share-based payments contain internal performance measures and \u00a0
external market return measures. At the grant date the value of services \u00a0
received in exchange for share-based payments are measured at the fair \u00a0
value. The fair value of share-based payments is estimated using a valu- \u00a0
ation model that takes into account the terms and conditions upon which \u00a0
granting took place. During the vesting period, the costs related to the \u00a0
plans are recognized as staff costs and an equal amount is recognized in \u00a0
equity. For the internal performance targets, costs are recognized over the \u00a0
vesting period based on the number of shares expected to vest, whereas \u00a0
for the market return elements, costs are recognized over the vesting \u00a0
period disregarding any changes in the number of shares expected to vest. \u00a0
",
"dimensions": {
"concept": "ifrs-full:DisclosureOfSharebasedPaymentArrangementsExplanatory",
"language": "en",
"entity": "scheme:529900197LKWCEQ0NL18",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"fact2108": {
"value": "2.4 Research
and development \u00a0
Amounts in EURm \u00a0
2023 \u00a0
2022 \u00a0
Research and development costs \u00a0
- staff costs \u00a0
6.0 \u00a0
5.2 \u00a0
Research and development costs \u00a0
- other costs \u00a0
31.7 \u00a0
32.1 \u00a0
Total research and development costs \u00a0
37.7 \u00a0
37.3 \u00a0
Recognized as follows: \u00a0
Expensed in the income statement \u00a0
7.1 \u00a0
6.0 \u00a0
Capitalized in the balance sheet \u00a0
30.6 \u00a0
31.3 \u00a0
Total research and development costs \u00a0
37.7 \u00a0
37.3 \u00a0
Accounting policy \u00a0
Research costs are expensed in the income statement as they occur. \u00a0
Clearly defined and identifiable development projects are recognized as \u00a0
intangible assets provided that the following requirements are met: The \u00a0
technical feasibility, adequacy of resources and a potential future market \u00a0
can be demonstrated, it is intended to manufacture, market or utilize \u00a0
the project, the cost can be reliably determined, and there is reason- \u00a0
able certainty that the future earnings or net selling prices can cover the \u00a0
carrying amount as well as the development costs necessary to finalize \u00a0
the project. Other development costs are expensed in the income state- \u00a0
ment as incurred. Capitalized development projects are measured at cost \u00a0
less accumulated amortization and impairment losses. The cost includes \u00a0
wages, amortization and other costs relating to the Group\u2019s development \u00a0
activities. On completion of the development work, development projects \u00a0
are amortized on a straight-line basis over their estimated useful life from \u00a0
the date the asset is available for use. The amortization period is usually \u00a0
3\u201310 years. The amortization base is reduced by any impairment losses. \u00a0
Intangible assets under development consists of \u00a0
clearly defined and identifiable development projects \u00a0
where the following requirements are met: The tech- \u00a0
nical feasibility, adequacy of resources and a potential \u00a0
future market can be demonstrated, it is intended to \u00a0
manufacture, market or utilize the project, the cost \u00a0
can be reliably determined, and there is reason- \u00a0
able certainty that the future earnings or net selling \u00a0
prices can cover the carrying amount as well as the \u00a0
development costs necessary to finalize the project. \u00a0
as incurred. Intangible assets under development \u00a0
are measured at cost less accumulated impairment \u00a0
losses. The cost includes wages, amortization and \u00a0
other costs relating to the Group\u2019s development \u00a0
activities. On completion the development work is \u00a0
transferred to Development projects completed or IT \u00a0
software. \u00a0
",
"dimensions": {
"concept": "ifrs-full:DisclosureOfResearchAndDevelopmentExpenseExplanatory",
"language": "en",
"entity": "scheme:529900197LKWCEQ0NL18",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"fact2109": {
"value": "Accounting policy \u00a0
Research costs are expensed in the income statement as they occur. \u00a0
Clearly defined and identifiable development projects are recognized as \u00a0
intangible assets provided that the following requirements are met: The \u00a0
technical feasibility, adequacy of resources and a potential future market \u00a0
can be demonstrated, it is intended to manufacture, market or utilize \u00a0
the project, the cost can be reliably determined, and there is reason- \u00a0
able certainty that the future earnings or net selling prices can cover the \u00a0
carrying amount as well as the development costs necessary to finalize \u00a0
the project. Other development costs are expensed in the income state- \u00a0
ment as incurred. Capitalized development projects are measured at cost \u00a0
less accumulated amortization and impairment losses. The cost includes \u00a0
wages, amortization and other costs relating to the Group\u2019s development \u00a0
activities. On completion of the development work, development projects \u00a0
are amortized on a straight-line basis over their estimated useful life from \u00a0
the date the asset is available for use. The amortization period is usually \u00a0
3\u201310 years. The amortization base is reduced by any impairment losses. \u00a0
",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForResearchAndDevelopmentExpenseExplanatory",
"language": "en",
"entity": "scheme:529900197LKWCEQ0NL18",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"fact2102": {
"value": "Accounting policy \u00a0
The share-based payments contain internal performance measures and \u00a0
external market return measures. At the grant date the value of services \u00a0
received in exchange for share-based payments are measured at the fair \u00a0
value. The fair value of share-based payments is estimated using a valu- \u00a0
ation model that takes into account the terms and conditions upon which \u00a0
granting took place. During the vesting period, the costs related to the \u00a0
plans are recognized as staff costs and an equal amount is recognized in \u00a0
equity. For the internal performance targets, costs are recognized over the \u00a0
vesting period based on the number of shares expected to vest, whereas \u00a0
for the market return elements, costs are recognized over the vesting \u00a0
period disregarding any changes in the number of shares expected to vest. \u00a0
",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForSharebasedPaymentTransactionsExplanatory",
"language": "en",
"entity": "scheme:529900197LKWCEQ0NL18",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"fact2112": {
"value": "2.5 Tax \u00a0
Tax Approach \u00a0
NKT Group complies with the tax legislation of the countries in which it \u00a0
operates and seeks to pay the right amount of tax in the countries where it \u00a0
creates value. \u00a0
NKT Group only uses business structures that are driven by commercial \u00a0
consideration and have the genuine substance. \u00a0
NKT Group does not operate in tax havens. In accordance with NKT \u00a0
Group\u2019s tax policy, any future operations in tax havens will be purely of \u00a0
commercial reasons. \u00a0
NKT Group believes in collaboration and transparency regarding its tax \u00a0
matters and actively pursues opportunities to engage with tax authorities \u00a0
and other relevant stakeholders with the purpose of building trust through \u00a0
collaboration and openness. \u00a0
NKT Group realized earnings before tax (EBT) of EUR 148.8m (EUR 78.3m \u00a0
in 2022), which resulted in a reported tax rate of 20.2% (29.6% in 2022). \u00a0
The reported tax rate of 20.2% was primarily impacted by operations in \u00a0
countries with a different tax rate relative to the Danish tax rate. \u00a0
It is expected that OECD Pillar 2 will have an immaterial impact on NKT \u00a0
Group in 2024. \u00a0
In 2023, NKT Group paid a net amount of EUR 24.7m in corporate income \u00a0
tax compared to paying a net amount of EUR 15.3m in 2022. \u00a0
Earnings realized in NKT Group's Danish companies resulted in a corporate \u00a0
tax receivable of EUR 11.3m (Corporate tax payable of EUR 3.3m in 2022). \u00a0
Amounts in EURm \u00a0
2023 \u00a0
2022 \u00a0
Tax recognized in the income statement \u00a0
Current tax \u00a0
25.2 \u00a0
11.1 \u00a0
Current tax, adj. prior years \u00a0
3.8 \u00a0
1.5 \u00a0
Deferred tax \u00a0
8.1 \u00a0
13.6 \u00a0
Deferred tax, adj. prior years \u00a0
-7.0 \u00a0
-3.0 \u00a0
30.1 \u00a0
23.2 \u00a0
Tax rate for the year \u00a0
20.2% \u00a0
29.6% \u00a0
Reconciliation of tax: \u00a0
Calculated 22.0% tax on earnings \u00a0
before tax \u00a0
32.7 \u00a0
17.2 \u00a0
Tax effect of: \u00a0
Foreign tax rates relative to Danish tax rate \u00a0
-4.7 \u00a0
-5.0 \u00a0
Non-taxable income/ \u00a0
non-deductible expenses, net \u00a0
4.0 \u00a0
-4.1 \u00a0
Adjustment for previous years \u00a0
-3.2 \u00a0
-1.5 \u00a0
Value adjustment of tax assets \u00a0
1.3 \u00a0
16.6 \u00a0
30.1 \u00a0
23.2 \u00a0
Amounts in EURm \u00a0
2023 \u00a0
2022 \u00a0
Deferred tax, 1 January, net \u00a0
-43.2 \u00a0
-46.9 \u00a0
Tax recognized in other comprehensive income \u00a0
-15.0 \u00a0
-20.2 \u00a0
Tax recognized on deferred hedge gains and \u00a0
losses transferred from equity to inventory \u00a0
34.6 \u00a0
30.4 \u00a0
Addition from acquisitions \u00a0
0.0 \u00a0
-0.9 \u00a0
Deferred tax recognized in income statement \u00a0
-1.1 \u00a0
-10.6 \u00a0
Transferred to assets held for sale \u00a0
0.0 \u00a0
2.4 \u00a0
Foreign exchange adjustment \u00a0
0.3 \u00a0
2.6 \u00a0
Deferred tax, 31 December, net \u00a0
-24.4 \u00a0
-43.2 \u00a0
Recognized deferred tax: \u00a0
Deferred tax assets, 31 December \u00a0
12.3 \u00a0
11.7 \u00a0
Deferred tax liabilities, 31 December \u00a0
-36.7 \u00a0
-54.9 \u00a0
Deferred tax, 31 December, net \u00a0
-24.4 \u00a0
-43.2 \u00a0
Specification on deferred tax assets and \u00a0
liabilities: \u00a0
Intangible assets \u00a0
-25.9 \u00a0
-22.7 \u00a0
Tangible assets \u00a0
-11.2 \u00a0
-13.3 \u00a0
Other non-current assets \u00a0
0.3 \u00a0
1.4 \u00a0
Current assets \u00a0
-53.8 \u00a0
-65.1 \u00a0
Non-current liabilities \u00a0
5.2 \u00a0
5.8 \u00a0
Current liabilities \u00a0
6.2 \u00a0
13.7 \u00a0
Tax losses \u00a0
149.0 \u00a0
128.7 \u00a0
Valuation allowance, unrecognized tax assets \u00a0
-94.5 \u00a0
-92.7 \u00a0
Other \u00a0
0.3 \u00a0
1.0 \u00a0
Deferred tax, 31 December, net \u00a0
-24.4 \u00a0
-43.2 \u00a0
Significant estimates \u00a0
The measurement of deferred tax assets and liabilities is based on the \u00a0
corporate tax rate applicable in the years when the assets and liabilities are \u00a0
expected to be utilized. The measurement of the tax assets is based on \u00a0
budgets and estimates for the coming years, which by nature are subject \u00a0
to uncertainty. As a result, there can be a substantial difference between \u00a0
the expected use of the tax asset and actual use of the tax asset related to \u00a0
previous years in the consolidated income statement. \u00a0
The majority of the deferred tax assets relate to NKT Group\u2019s German tax \u00a0
unit. The business outlook and high-voltage order backlog have improved \u00a0
significantly during 2023, which has led to further capitalization of tax \u00a0
losses carried forward. The tax losses carried forward from the German tax \u00a0
unit increased from EUR 387.9m in 2022 to EUR 448.7m in 2023. The total \u00a0
deferred tax value amounts to EUR 143.6m. NKT Group has recognized a \u00a0
deferred tax asset of EUR 50.3m at year-end 2023 (EUR 30.7m in 2022). \u00a0
Tax losses in Germany have no expiry date. \u00a0
The tax losses carried forward in the Swedish tax unit were fully utilized \u00a0
during 2023. Further, a deferred tax asset of EUR 1.1m relating to interest \u00a0
carried forward has been recognized in 2023 (EUR 11.3m in 2022). The \u00a0
deferred tax asset has been fully offset against a deferred tax liability. \u00a0
The tax losses carried forward at end-2023 in the Danish tax unit amount to \u00a0
EUR 18.6m. NKT Group has recognized a deferred tax asset of EUR 4.1m \u00a0
(EUR 0.0m in 2022). Tax losses in Denmark have no expiry date. \u00a0
NKT Group reported a net deferred tax liability of EUR 24.4m (EUR 43.2m \u00a0
in 2022). The development mainly relates to deferred tax liability related to \u00a0
hedge accounting recognized in other comprehensive income and deferred \u00a0
tax liability related to timing differences in revenue recognition in Germany \u00a0
and recognition of deferred tax asset related to tax losses carried forward \u00a0
in Germany and Denmark. \u00a0
Management judgement regarding deferred tax assets and provision \u00a0
for uncertain tax positions \u00a0
Deferred tax assets relating to tax losses carried forward are recognized \u00a0
when Management assesses that these can be utilized in the foreseeable \u00a0
future. The assessment is performed at the reporting date considering local \u00a0
tax legislation and Management\u2019s business plans. Planned changes to \u00a0
capital structure are included in the assessment. \u00a0
As the NKT Group conducts business around the world, tax and transfer \u00a0
pricing disputes with local tax authorities may occur. When assessing the \u00a0
expected outcome of these possible disputes, NKT Group applies IFRIC \u00a0
23 \u2018Uncertainty over Income Tax Treatments\u2019 and methods directed herein \u00a0
when making provisions for uncertain tax positions. As this is an assess- \u00a0
ment, the actual obligations may deviate and will depend on the result of \u00a0
litigations and settlements with the tax authorities. Any taxes relating to tax \u00a0
disputes are included in \u2018Income tax receivables\u2019, \u2018Income tax payables\u2019 or \u00a0
\u2018Deferred tax\u2019 based on an assessment of the most likely outcome of the \u00a0
disputes. \u00a0
Deferred tax \u00a0
Deferred tax is measured according to the balance sheet liability method \u00a0
on all temporary differences between the carrying amount and the tax base \u00a0
of assets and liabilities. However, deferred tax is not recognised on taxable \u00a0
temporary differences relating to goodwill and on temporary differences \u00a0
arising on the initial recognition of an asset and liability which affects neither \u00a0
accounting profit nor taxable income and does not result in a deductible \u00a0
and taxable temporary difference of the same amount. Where alternative \u00a0
taxation rules can be applied to determine the tax base, deferred tax is \u00a0
measured according to Group Management\u2019s planned use of the assets or \u00a0
settlement of the liabilities, respectively. \u00a0
Deferred tax assets, including the tax base of tax losses allowed for carry \u00a0
forward, are recognized at their expected utilization value within the fore- \u00a0
seeable future. \u00a0
Deferred tax assets and tax liabilities are offset if the company has a legal \u00a0
right to offset current tax assets and liabilities and intends to settle current \u00a0
tax assets and liabilities on a net basis or to realize the assets and liabilities \u00a0
simultaneously. \u00a0
",
"dimensions": {
"concept": "ifrs-full:DisclosureOfDeferredTaxesExplanatory",
"language": "en",
"entity": "scheme:529900197LKWCEQ0NL18",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"fact2113": {
"value": "2.5 Tax \u00a0
Tax Approach \u00a0
NKT Group complies with the tax legislation of the countries in which it \u00a0
operates and seeks to pay the right amount of tax in the countries where it \u00a0
creates value. \u00a0
NKT Group only uses business structures that are driven by commercial \u00a0
consideration and have the genuine substance. \u00a0
NKT Group does not operate in tax havens. In accordance with NKT \u00a0
Group\u2019s tax policy, any future operations in tax havens will be purely of \u00a0
commercial reasons. \u00a0
NKT Group believes in collaboration and transparency regarding its tax \u00a0
matters and actively pursues opportunities to engage with tax authorities \u00a0
and other relevant stakeholders with the purpose of building trust through \u00a0
collaboration and openness. \u00a0
NKT Group realized earnings before tax (EBT) of EUR 148.8m (EUR 78.3m \u00a0
in 2022), which resulted in a reported tax rate of 20.2% (29.6% in 2022). \u00a0
The reported tax rate of 20.2% was primarily impacted by operations in \u00a0
countries with a different tax rate relative to the Danish tax rate. \u00a0
It is expected that OECD Pillar 2 will have an immaterial impact on NKT \u00a0
Group in 2024. \u00a0
In 2023, NKT Group paid a net amount of EUR 24.7m in corporate income \u00a0
tax compared to paying a net amount of EUR 15.3m in 2022. \u00a0
Earnings realized in NKT Group's Danish companies resulted in a corporate \u00a0
tax receivable of EUR 11.3m (Corporate tax payable of EUR 3.3m in 2022). \u00a0
Amounts in EURm \u00a0
2023 \u00a0
2022 \u00a0
Tax recognized in the income statement \u00a0
Current tax \u00a0
25.2 \u00a0
11.1 \u00a0
Current tax, adj. prior years \u00a0
3.8 \u00a0
1.5 \u00a0
Deferred tax \u00a0
8.1 \u00a0
13.6 \u00a0
Deferred tax, adj. prior years \u00a0
-7.0 \u00a0
-3.0 \u00a0
30.1 \u00a0
23.2 \u00a0
Tax rate for the year \u00a0
20.2% \u00a0
29.6% \u00a0
Reconciliation of tax: \u00a0
Calculated 22.0% tax on earnings \u00a0
before tax \u00a0
32.7 \u00a0
17.2 \u00a0
Tax effect of: \u00a0
Foreign tax rates relative to Danish tax rate \u00a0
-4.7 \u00a0
-5.0 \u00a0
Non-taxable income/ \u00a0
non-deductible expenses, net \u00a0
4.0 \u00a0
-4.1 \u00a0
Adjustment for previous years \u00a0
-3.2 \u00a0
-1.5 \u00a0
Value adjustment of tax assets \u00a0
1.3 \u00a0
16.6 \u00a0
30.1 \u00a0
23.2 \u00a0
Significant estimates \u00a0
The measurement of deferred tax assets and liabilities is based on the \u00a0
corporate tax rate applicable in the years when the assets and liabilities are \u00a0
expected to be utilized. The measurement of the tax assets is based on \u00a0
budgets and estimates for the coming years, which by nature are subject \u00a0
to uncertainty. As a result, there can be a substantial difference between \u00a0
the expected use of the tax asset and actual use of the tax asset related to \u00a0
previous years in the consolidated income statement. \u00a0
The majority of the deferred tax assets relate to NKT Group\u2019s German tax \u00a0
unit. The business outlook and high-voltage order backlog have improved \u00a0
significantly during 2023, which has led to further capitalization of tax \u00a0
losses carried forward. The tax losses carried forward from the German tax \u00a0
unit increased from EUR 387.9m in 2022 to EUR 448.7m in 2023. The total \u00a0
deferred tax value amounts to EUR 143.6m. NKT Group has recognized a \u00a0
deferred tax asset of EUR 50.3m at year-end 2023 (EUR 30.7m in 2022). \u00a0
Tax losses in Germany have no expiry date. \u00a0
The tax losses carried forward in the Swedish tax unit were fully utilized \u00a0
during 2023. Further, a deferred tax asset of EUR 1.1m relating to interest \u00a0
carried forward has been recognized in 2023 (EUR 11.3m in 2022). The \u00a0
deferred tax asset has been fully offset against a deferred tax liability. \u00a0
The tax losses carried forward at end-2023 in the Danish tax unit amount to \u00a0
EUR 18.6m. NKT Group has recognized a deferred tax asset of EUR 4.1m \u00a0
(EUR 0.0m in 2022). Tax losses in Denmark have no expiry date. \u00a0
NKT Group reported a net deferred tax liability of EUR 24.4m (EUR 43.2m \u00a0
in 2022). The development mainly relates to deferred tax liability related to \u00a0
hedge accounting recognized in other comprehensive income and deferred \u00a0
tax liability related to timing differences in revenue recognition in Germany \u00a0
and recognition of deferred tax asset related to tax losses carried forward \u00a0
in Germany and Denmark. \u00a0
Management judgement regarding deferred tax assets and provision \u00a0
for uncertain tax positions \u00a0
Deferred tax assets relating to tax losses carried forward are recognized \u00a0
when Management assesses that these can be utilized in the foreseeable \u00a0
future. The assessment is performed at the reporting date considering local \u00a0
tax legislation and Management\u2019s business plans. Planned changes to \u00a0
capital structure are included in the assessment. \u00a0
As the NKT Group conducts business around the world, tax and transfer \u00a0
pricing disputes with local tax authorities may occur. When assessing the \u00a0
expected outcome of these possible disputes, NKT Group applies IFRIC \u00a0
23 \u2018Uncertainty over Income Tax Treatments\u2019 and methods directed herein \u00a0
when making provisions for uncertain tax positions. As this is an assess- \u00a0
ment, the actual obligations may deviate and will depend on the result of \u00a0
litigations and settlements with the tax authorities. Any taxes relating to tax \u00a0
disputes are included in \u2018Income tax receivables\u2019, \u2018Income tax payables\u2019 or \u00a0
\u2018Deferred tax\u2019 based on an assessment of the most likely outcome of the \u00a0
disputes. \u00a0
Accounting policy \u00a0
Current income tax \u00a0
Tax for the period, consists of the year\u2019s current tax, change in deferred tax \u00a0
and adjustments related to previous years. Tax for the period is recognized \u00a0
in the income statement including the effect of coupon payments on the \u00a0
hybrid capital. Tax relating to other items is recognized in other comprehen- \u00a0
sive income. \u00a0
Current tax payable and receivable is recognized in the balance sheet as \u00a0
tax estimated on taxable income for the year, adjusted for tax on taxable \u00a0
income for previous years and for tax paid on account. \u00a0
",
"dimensions": {
"concept": "ifrs-full:DisclosureOfIncomeTaxExplanatory",
"language": "en",
"entity": "scheme:529900197LKWCEQ0NL18",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"fact2126": {
"value": "Accounting policy \u00a0
Current income tax \u00a0
Tax for the period, consists of the year\u2019s current tax, change in deferred tax \u00a0
and adjustments related to previous years. Tax for the period is recognized \u00a0
in the income statement including the effect of coupon payments on the \u00a0
hybrid capital. Tax relating to other items is recognized in other comprehen- \u00a0
sive income. \u00a0
Current tax payable and receivable is recognized in the balance sheet as \u00a0
tax estimated on taxable income for the year, adjusted for tax on taxable \u00a0
income for previous years and for tax paid on account. \u00a0
",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForIncomeTaxExplanatory",
"language": "en",
"entity": "scheme:529900197LKWCEQ0NL18",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"fact2130": {
"value": "Deferred tax \u00a0
Deferred tax is measured according to the balance sheet liability method \u00a0
on all temporary differences between the carrying amount and the tax base \u00a0
of assets and liabilities. However, deferred tax is not recognised on taxable \u00a0
temporary differences relating to goodwill and on temporary differences \u00a0
arising on the initial recognition of an asset and liability which affects neither \u00a0
accounting profit nor taxable income and does not result in a deductible \u00a0
and taxable temporary difference of the same amount. Where alternative \u00a0
taxation rules can be applied to determine the tax base, deferred tax is \u00a0
measured according to Group Management\u2019s planned use of the assets or \u00a0
settlement of the liabilities, respectively. \u00a0
Deferred tax assets, including the tax base of tax losses allowed for carry \u00a0
forward, are recognized at their expected utilization value within the fore- \u00a0
seeable future. \u00a0
Deferred tax assets and tax liabilities are offset if the company has a legal \u00a0
right to offset current tax assets and liabilities and intends to settle current \u00a0
tax assets and liabilities on a net basis or to realize the assets and liabilities \u00a0
simultaneously. \u00a0
",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForDeferredIncomeTaxExplanatory",
"language": "en",
"entity": "scheme:529900197LKWCEQ0NL18",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"fact2132": {
"value": "Section 3 \u2013 Non-current assets and liabilities \u00a0
NKT Group\u2019s investments in \u00a0
non-current assets form a basis \u00a0
for the Group\u2019s operation and \u00a0
non-current liabilities arising as \u00a0
a result thereof. The non-current \u00a0
liabilities in this section are \u00a0
regarded as non interest-bearing. \u00a0
3.2 Property,
plant and equipment \u00a0
Right-of-use assets are recognized as follows: \u00a0
Manufacturing \u00a0
Fixtures, \u00a0
Land and \u00a0
plant and \u00a0
fittings, tools \u00a0
Amounts in EURm \u00a0
buildings \u00a0
machinery and
equipment \u00a0
Total \u00a0
Cost, 1 January 2022 \u00a0
40.6 \u00a0
7.1 \u00a0
0.9 \u00a0
48.6 \u00a0
Addition for the year \u00a0
1.8 \u00a0
0.0 \u00a0
0.0 \u00a0
1.8 \u00a0
Disposal of subsidiaries \u00a0
-0.5 \u00a0
0.0 \u00a0
0.0 \u00a0
-0.5 \u00a0
Depreciation of right of use assets \u00a0
-5.4 \u00a0
-1.0 \u00a0
-0.4 \u00a0
-6.8 \u00a0
Transferred to assets held for sale \u00a0
-6.5 \u00a0
0.0 \u00a0
0.0 \u00a0
-6.5 \u00a0
Exchange rate adjustments \u00a0
-1.0 \u00a0
0.0 \u00a0
0.0 \u00a0
-1.0 \u00a0
The carrying amount of right-of-use \u00a0
assets, 31 December 2022 \u00a0
29.0 \u00a0
6.1 \u00a0
0.5 \u00a0
35.6 \u00a0
Cost, 1 January 2023 \u00a0
29.0 \u00a0
6.1 \u00a0
0.5 \u00a0
35.6 \u00a0
Addition for the year \u00a0
31.9 \u00a0
0.0 \u00a0
0.0 \u00a0
31.9 \u00a0
Depreciation of right of use assets \u00a0
-4.6 \u00a0
-1.0 \u00a0
-0.4 \u00a0
-6.0 \u00a0
Exchange rate adjustments \u00a0
0.2 \u00a0
0.0 \u00a0
0.0 \u00a0
0.2 \u00a0
The carrying amount of right-of-use \u00a0
assets, 31 December 2023 \u00a0
56.5 \u00a0
5.1 \u00a0
0.1 \u00a0
61.7 \u00a0
Amounts recognized in the income statement: \u00a0
Amounts in EURm \u00a0
2023 \u00a0
2022 \u00a0
Costs relating to other immaterial leases including short term and low value leases, \u00a0
recognized in the income statement \u00a0
11.0 \u00a0
7.8 \u00a0
Lease liabilities and interests relating to recognized lease contracts are included in Section 5.4 and 5.5 respectively. \u00a0
Future minimum lease payments relating to leases not recognized in the balance sheet amount to EUR 26.8m (EUR \u00a0
11.6m in 2022). \u00a0
Accounting policy \u00a0
Contracts relating to leased equipment are usually \u00a0
made for a fixed period, whereas lease contracts for \u00a0
buildings and land in some instances include an option \u00a0
to extend the lease. When assessing the life of the \u00a0
leases, NKT considers the non-cancellable lease term \u00a0
and options to extend the lease where it is reasonably \u00a0
certain to extend. The lease period of offices and sales \u00a0
buildings are assessed to be approximately 3-10 years, \u00a0
for production facilities 5-10 years and for land up to \u00a0
20 years. For other assets the lease term is equal to \u00a0
the non-cancelable lease period and extensions are \u00a0
not considered. The right-of-use asset is depreciated \u00a0
over the shorter of the asset\u2019s useful life and the lease \u00a0
term on a straight-line basis. \u00a0
Payments related to short-term leases and leases \u00a0
of low-value assets continue to be recognized on \u00a0
a straight-line basis as an expense in the income \u00a0
statement. Low-value assets mainly comprise minor \u00a0
buildings, cars, forklifts, IT-equipment and other office \u00a0
equipment. \u00a0
NKT Group has no leases where the rent is variable \u00a0
depending on revenue, etc. Some contracts are \u00a0
exposed to future increases in variable lease payments \u00a0
based on an index or rate, which are included in the \u00a0
lease liability when they take effect. \u00a0
Property, plant and equipment are measured at cost \u00a0
less accumulated depreciation and impairment losses. \u00a0
Manufacturing \u00a0
Fixtures, fittings,
Property, plant and \u00a0
Total property, \u00a0
Land \u00a0
plant and \u00a0
tools and \u00a0
equipment under \u00a0
plant and \u00a0
Amounts in EURm \u00a0
and buildings \u00a0
machinery \u00a0
equipment \u00a0
construction \u00a0
equipment \u00a0
Cost, 1 January 2022 \u00a0
410.6 \u00a0
675.0 \u00a0
131.5 \u00a0
192.2 \u00a0
1,409.3 \u00a0
Additions \u00a0
4.2 \u00a0
20.6 \u00a0
2.6 \u00a0
134.5 \u00a0
161.9 \u00a0
Additions through business combinations \u00a0
6.4 \u00a0
12.7 \u00a0
0.2 \u00a0
1.6 \u00a0
20.9 \u00a0
Disposal of subsidiary \u00a0
-1.6 \u00a0
-0.3 \u00a0
-3.9 \u00a0
0.0 \u00a0
-5.8 \u00a0
Disposals \u00a0
-0.4 \u00a0
-7.3 \u00a0
-2.2 \u00a0
-1.3 \u00a0
-11.2 \u00a0
Transferred between classes of assets \u00a0
33.4 \u00a0
53.2 \u00a0
16.2 \u00a0
-102.8 \u00a0
0.0 \u00a0
Transferred to assets held for sale \u00a0
-20.9 \u00a0
-16.5 \u00a0
-9.5 \u00a0
-3.4 \u00a0
-50.3 \u00a0
Exchange rate adjustments \u00a0
-13.9 \u00a0
-10.2 \u00a0
-5.8 \u00a0
-11.3 \u00a0
-41.2 \u00a0
Cost, 31 December 2022 \u00a0
417.8 \u00a0
727.2 \u00a0
129.1 \u00a0
209.5 \u00a0
1,483.6 \u00a0
Depreciation and impairment, 1 January 2022 \u00a0
-122.2 \u00a0
-417.5 \u00a0
-85.9 \u00a0
-0.8 \u00a0
-626.4 \u00a0
Depreciation for the year \u00a0
-15.5 \u00a0
-37.7 \u00a0
-12.4 \u00a0
0.0 \u00a0
-65.6 \u00a0
Disposal of subsidiary \u00a0
1.1 \u00a0
0.0 \u00a0
3.4 \u00a0
0.0 \u00a0
4.5 \u00a0
Disposals \u00a0
0.2 \u00a0
7.1 \u00a0
2.2 \u00a0
0.8 \u00a0
10.3 \u00a0
Transferred to assets held for sale \u00a0
8.7 \u00a0
13.7 \u00a0
5.8 \u00a0
0.0 \u00a0
28.2 \u00a0
Exchange rate adjustments \u00a0
2.3 \u00a0
5.1 \u00a0
2.8 \u00a0
0.0 \u00a0
10.2 \u00a0
Depreciation and impairment, 31 December 2022 \u00a0
-125.4 \u00a0
-429.3 \u00a0
-84.1 \u00a0
0.0 \u00a0
-638.8 \u00a0
Carrying amount, 31 December 2022 \u00a0
292.4 \u00a0
297.9 \u00a0
45.0 \u00a0
209.5 \u00a0
844.8 \u00a0
Cost, 1 January 2023 \u00a0
417.8 \u00a0
727.2 \u00a0
129.1 \u00a0
209.5 \u00a0
1,483.6 \u00a0
Additions \u00a0
31.9 \u00a0
13.2 \u00a0
4.4 \u00a0
186.6 \u00a0
236.1 \u00a0
Disposals \u00a0
-17.9 \u00a0
-8.3 \u00a0
-1.7 \u00a0
0.0 \u00a0
-27.9 \u00a0
Transferred between classes of assets \u00a0
67.3 \u00a0
107.8 \u00a0
20.2 \u00a0
-195.3 \u00a0
0.0 \u00a0
Exchange rate adjustments \u00a0
1.6 \u00a0
5.3 \u00a0
0.7 \u00a0
0.2 \u00a0
7.8 \u00a0
Cost, 31 December 2023 \u00a0
500.7 \u00a0
845.2 \u00a0
152.7 \u00a0
201.0 \u00a0
1,699.6 \u00a0
Depreciation and impairment, 1 January 2023 \u00a0
-125.4 \u00a0
-429.3 \u00a0
-84.1 \u00a0
0.0 \u00a0
-638.8 \u00a0
Depreciation for the year \u00a0
-15.7 \u00a0
-42.8 \u00a0
-12.6 \u00a0
0.0 \u00a0
-71.1 \u00a0
Impairment \u00a0
0.0 \u00a0
0.0 \u00a0
-0.1 \u00a0
0.0 \u00a0
-0.1 \u00a0
Disposals \u00a0
17.9 \u00a0
8.2 \u00a0
1.7 \u00a0
0.0 \u00a0
27.8 \u00a0
Transferred between classes of assets \u00a0
-0.1 \u00a0
0.1 \u00a0
0.0 \u00a0
0.0 \u00a0
0.0 \u00a0
Exchange rate adjustments \u00a0
-0.3 \u00a0
-2.4 \u00a0
-0.8 \u00a0
0.0 \u00a0
-3.5 \u00a0
Depreciation and impairment, 31 December 2023 \u00a0
-123.6 \u00a0
-466.2 \u00a0
-95.9 \u00a0
0.0 \u00a0
-685.7 \u00a0
Carrying amount, 31 December 2023 \u00a0
377.1 \u00a0
379.0 \u00a0
56.8 \u00a0
201.0 \u00a0
1,013.9 \u00a0
Accounting policy \u00a0
The cost comprises the purchase price and any costs directly attributable \u00a0
to the acquisition. The cost of self-constructed assets comprises costs of \u00a0
materials, components, subcontractors and wages. The cost is supple- \u00a0
mented by the present value of estimated liabilities related to dismantling \u00a0
and removing the asset and restoring the site on which the asset was \u00a0
utilized. \u00a0
Subsequent costs, e.g. relating to replacement of parts of an item of prop- \u00a0
erty, plant and equipment, are recognized in the carrying amount of the \u00a0
asset if it is likely that the costs will result in future economic benefits for \u00a0
the Group. All other costs relating to ordinary repair and maintenance are \u00a0
recognized in the income statement as incurred. \u00a0
Depreciation is done on a straight-line basis over the expected useful life of \u00a0
the assets, as follows: \u00a0
Buildings \u00a0
10 \u2013 50 years \u00a0
Manufacturing plant and machinery \u00a0
4 \u2013 20 years \u00a0
Fixtures, fittings, tools and equipment \u00a0
3 \u2013 15 years \u00a0
Vessel \u00a0
20 years \u00a0
Land is not depreciated \u00a0
If individual parts of an item of property, plant and equipment have different \u00a0
useful lives, they are depreciated separately. \u00a0
The basis of depreciation is calculated according to the residual value less \u00a0
impairment losses. The residual value is determined at the acquisition date \u00a0
and reviewed annually. If the residual value exceeds the carrying amount, \u00a0
depreciation is discontinued. \u00a0
",
"dimensions": {
"concept": "ifrs-full:DisclosureOfPropertyPlantAndEquipmentExplanatory",
"language": "en",
"entity": "scheme:529900197LKWCEQ0NL18",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"fact2133": {
"value": "Section 3 \u2013 Non-current assets and liabilities \u00a0
NKT Group\u2019s investments in \u00a0
non-current assets form a basis \u00a0
for the Group\u2019s operation and \u00a0
non-current liabilities arising as \u00a0
a result thereof. The non-current \u00a0
liabilities in this section are \u00a0
regarded as non interest-bearing. \u00a0
3.1 Intangible
assets \u00a0
Trademarks, \u00a0
Development \u00a0
Intangible \u00a0
Total \u00a0
patents and \u00a0
projects \u00a0
assets under \u00a0
Intangible \u00a0
Amounts in EURm \u00a0
Goodwill \u00a0
licences etc. \u00a0
IT software \u00a0
completed \u00a0
development \u00a0
assets \u00a0
Cost, 1 January 2022 \u00a0
404.4 \u00a0
100.4 \u00a0
82.2 \u00a0
83.5 \u00a0
89.0 \u00a0
759.5 \u00a0
Disposal of subsidiary \u00a0
0.0 \u00a0
-1.7 \u00a0
0.0 \u00a0
-7.7 \u00a0
-2.3 \u00a0
-11.7 \u00a0
Additions \u00a0
0.0 \u00a0
0.0 \u00a0
1.1 \u00a0
0.2 \u00a0
39.3 \u00a0
40.6 \u00a0
Disposals \u00a0
0.0 \u00a0
0.0 \u00a0
0.0 \u00a0
-0.4 \u00a0
-0.1 \u00a0
-0.5 \u00a0
Transferred between classes of assets \u00a0
0.0 \u00a0
0.0 \u00a0
1.5 \u00a0
8.8 \u00a0
-10.3 \u00a0
0.0 \u00a0
Transferred to assets held for sale \u00a0
-25.3 \u00a0
-26.9 \u00a0
-7.8 \u00a0
-17.9 \u00a0
-24.4 \u00a0
-102.3 \u00a0
Exchange rate adjustments \u00a0
-28.7 \u00a0
-5.6 \u00a0
-0.4 \u00a0
-3.2 \u00a0
-3.5 \u00a0
-41.4 \u00a0
Costs, 31 December 2022 \u00a0
350.4 \u00a0
66.2 \u00a0
76.6 \u00a0
63.3 \u00a0
87.7 \u00a0
644.2 \u00a0
Amortization and impairment, 1 January 2022 \u00a0
0.0 \u00a0
-46.0 \u00a0
-40.0 \u00a0
-51.8 \u00a0
0.0 \u00a0
-137.8 \u00a0
Disposal of subsidiary \u00a0
0.0 \u00a0
1.2 \u00a0
0.0 \u00a0
5.8 \u00a0
0.0 \u00a0
7.0 \u00a0
Amortization for the year \u00a0
0.0 \u00a0
-6.3 \u00a0
-8.5 \u00a0
-11.6 \u00a0
0.0 \u00a0
-26.4 \u00a0
Disposals \u00a0
0.0 \u00a0
0.0 \u00a0
0.0 \u00a0
0.4 \u00a0
0.0 \u00a0
0.4 \u00a0
Transferred to assets held for sale \u00a0
0.0 \u00a0
22.3 \u00a0
2.7 \u00a0
12.3 \u00a0
0.0 \u00a0
37.3 \u00a0
Exchange rate adjustments \u00a0
0.0 \u00a0
2.0 \u00a0
0.4 \u00a0
1.3 \u00a0
0.0 \u00a0
3.7 \u00a0
Amortization and impairment, 31 December 2022 \u00a0
0.0 \u00a0
-26.8 \u00a0
-45.4 \u00a0
-43.6 \u00a0
0.0 \u00a0
-115.8 \u00a0
Carrying amount, 31 December 2022 \u00a0
350.4 \u00a0
39.4 \u00a0
31.2 \u00a0
19.7 \u00a0
87.7 \u00a0
528.4 \u00a0
Cost, 1 January 2023 \u00a0
350.4 \u00a0
66.2 \u00a0
76.6 \u00a0
63.3 \u00a0
87.7 \u00a0
644.2 \u00a0
Additions \u00a0
0.0 \u00a0
0.0 \u00a0
0.0 \u00a0
0.0 \u00a0
33.6 \u00a0
33.6 \u00a0
Transferred between classes of assets \u00a0
0.0 \u00a0
0.0 \u00a0
0.3 \u00a0
24.7 \u00a0
-25.0 \u00a0
0.0 \u00a0
Exchange rate adjustments \u00a0
0.5 \u00a0
0.1 \u00a0
0.0 \u00a0
0.3 \u00a0
0.5 \u00a0
1.4 \u00a0
Costs, 31 December 2023 \u00a0
350.9 \u00a0
66.3 \u00a0
76.9 \u00a0
88.3 \u00a0
96.8 \u00a0
679.2 \u00a0
Amortization and impairment, 1 January 2023 \u00a0
0.0 \u00a0
-26.8 \u00a0
-45.4 \u00a0
-43.6 \u00a0
0.0 \u00a0
-115.8 \u00a0
Amortization for the year \u00a0
0.0 \u00a0
-4.2 \u00a0
-7.2 \u00a0
-7.0 \u00a0
0.0 \u00a0
-18.4 \u00a0
Impairment \u00a0
0.0 \u00a0
0.0 \u00a0
0.0 \u00a0
-0.4 \u00a0
0.0 \u00a0
-0.4 \u00a0
Exchange rate adjustments \u00a0
0.0 \u00a0
-0.1 \u00a0
0.1 \u00a0
-0.2 \u00a0
0.0 \u00a0
-0.2 \u00a0
Amortization and impairment, 31 December 2023 \u00a0
0.0 \u00a0
-31.1 \u00a0
-52.5 \u00a0
-51.2 \u00a0
0.0 \u00a0
-134.8 \u00a0
Carrying amount, 31 December 2023 \u00a0
350.9 \u00a0
35.2 \u00a0
24.4 \u00a0
37.1 \u00a0
96.8 \u00a0
544.4 \u00a0
Accounting policy \u00a0
Goodwill is initially recognized in the balance sheet at \u00a0
cost. Subsequently, goodwill is measured at cost less \u00a0
accumulated impairment losses and is not amortized. \u00a0
The carrying amount of goodwill is allocated to NKT \u00a0
Group\u2019s cash-generating units at the acquisition date. \u00a0
Cash-generating units is based on the managerial \u00a0
structure and internal financial control. As a result \u00a0
of the integration of acquisitions in the existing NKT \u00a0
Group, and identification of operating segments \u00a0
based on the presence of segment managers, Group \u00a0
Management finds that the smallest cash-generating \u00a0
units to which the carrying amount of goodwill can be \u00a0
allocated during testing for impairment are identical to \u00a0
the reportable segments. \u00a0
Other intangible assets, which includes IT software, \u00a0
trademarks, patents and licences, are measured at \u00a0
cost less accumulated amortization and impairment \u00a0
losses and are amortized on a straight-line basis over \u00a0
the remaining patent or contract period or the useful \u00a0
life, whichever is the shorter. \u00a0
Expected useful life is determined as follow: \u00a0
Trademarks, patents and licences, etc. \u00a0
3-15 years \u00a0
IT software \u00a0
3-8 years \u00a0
Completed development projects \u00a0
2-8 years \u00a0
",
"dimensions": {
"concept": "ifrs-full:DisclosureOfIntangibleAssetsAndGoodwillExplanatory",
"language": "en",
"entity": "scheme:529900197LKWCEQ0NL18",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"fact2134": {
"value": "Section 3 \u2013 Non-current assets and liabilities \u00a0
NKT Group\u2019s investments in \u00a0
non-current assets form a basis \u00a0
for the Group\u2019s operation and \u00a0
non-current liabilities arising as \u00a0
a result thereof. The non-current \u00a0
liabilities in this section are \u00a0
regarded as non interest-bearing. \u00a0
3.1 Intangible
assets \u00a0
Trademarks, \u00a0
Development \u00a0
Intangible \u00a0
Total \u00a0
patents and \u00a0
projects \u00a0
assets under \u00a0
Intangible \u00a0
Amounts in EURm \u00a0
Goodwill \u00a0
licences etc. \u00a0
IT software \u00a0
completed \u00a0
development \u00a0
assets \u00a0
Cost, 1 January 2022 \u00a0
404.4 \u00a0
100.4 \u00a0
82.2 \u00a0
83.5 \u00a0
89.0 \u00a0
759.5 \u00a0
Disposal of subsidiary \u00a0
0.0 \u00a0
-1.7 \u00a0
0.0 \u00a0
-7.7 \u00a0
-2.3 \u00a0
-11.7 \u00a0
Additions \u00a0
0.0 \u00a0
0.0 \u00a0
1.1 \u00a0
0.2 \u00a0
39.3 \u00a0
40.6 \u00a0
Disposals \u00a0
0.0 \u00a0
0.0 \u00a0
0.0 \u00a0
-0.4 \u00a0
-0.1 \u00a0
-0.5 \u00a0
Transferred between classes of assets \u00a0
0.0 \u00a0
0.0 \u00a0
1.5 \u00a0
8.8 \u00a0
-10.3 \u00a0
0.0 \u00a0
Transferred to assets held for sale \u00a0
-25.3 \u00a0
-26.9 \u00a0
-7.8 \u00a0
-17.9 \u00a0
-24.4 \u00a0
-102.3 \u00a0
Exchange rate adjustments \u00a0
-28.7 \u00a0
-5.6 \u00a0
-0.4 \u00a0
-3.2 \u00a0
-3.5 \u00a0
-41.4 \u00a0
Costs, 31 December 2022 \u00a0
350.4 \u00a0
66.2 \u00a0
76.6 \u00a0
63.3 \u00a0
87.7 \u00a0
644.2 \u00a0
Amortization and impairment, 1 January 2022 \u00a0
0.0 \u00a0
-46.0 \u00a0
-40.0 \u00a0
-51.8 \u00a0
0.0 \u00a0
-137.8 \u00a0
Disposal of subsidiary \u00a0
0.0 \u00a0
1.2 \u00a0
0.0 \u00a0
5.8 \u00a0
0.0 \u00a0
7.0 \u00a0
Amortization for the year \u00a0
0.0 \u00a0
-6.3 \u00a0
-8.5 \u00a0
-11.6 \u00a0
0.0 \u00a0
-26.4 \u00a0
Disposals \u00a0
0.0 \u00a0
0.0 \u00a0
0.0 \u00a0
0.4 \u00a0
0.0 \u00a0
0.4 \u00a0
Transferred to assets held for sale \u00a0
0.0 \u00a0
22.3 \u00a0
2.7 \u00a0
12.3 \u00a0
0.0 \u00a0
37.3 \u00a0
Exchange rate adjustments \u00a0
0.0 \u00a0
2.0 \u00a0
0.4 \u00a0
1.3 \u00a0
0.0 \u00a0
3.7 \u00a0
Amortization and impairment, 31 December 2022 \u00a0
0.0 \u00a0
-26.8 \u00a0
-45.4 \u00a0
-43.6 \u00a0
0.0 \u00a0
-115.8 \u00a0
Carrying amount, 31 December 2022 \u00a0
350.4 \u00a0
39.4 \u00a0
31.2 \u00a0
19.7 \u00a0
87.7 \u00a0
528.4 \u00a0
Cost, 1 January 2023 \u00a0
350.4 \u00a0
66.2 \u00a0
76.6 \u00a0
63.3 \u00a0
87.7 \u00a0
644.2 \u00a0
Additions \u00a0
0.0 \u00a0
0.0 \u00a0
0.0 \u00a0
0.0 \u00a0
33.6 \u00a0
33.6 \u00a0
Transferred between classes of assets \u00a0
0.0 \u00a0
0.0 \u00a0
0.3 \u00a0
24.7 \u00a0
-25.0 \u00a0
0.0 \u00a0
Exchange rate adjustments \u00a0
0.5 \u00a0
0.1 \u00a0
0.0 \u00a0
0.3 \u00a0
0.5 \u00a0
1.4 \u00a0
Costs, 31 December 2023 \u00a0
350.9 \u00a0
66.3 \u00a0
76.9 \u00a0
88.3 \u00a0
96.8 \u00a0
679.2 \u00a0
Amortization and impairment, 1 January 2023 \u00a0
0.0 \u00a0
-26.8 \u00a0
-45.4 \u00a0
-43.6 \u00a0
0.0 \u00a0
-115.8 \u00a0
Amortization for the year \u00a0
0.0 \u00a0
-4.2 \u00a0
-7.2 \u00a0
-7.0 \u00a0
0.0 \u00a0
-18.4 \u00a0
Impairment \u00a0
0.0 \u00a0
0.0 \u00a0
0.0 \u00a0
-0.4 \u00a0
0.0 \u00a0
-0.4 \u00a0
Exchange rate adjustments \u00a0
0.0 \u00a0
-0.1 \u00a0
0.1 \u00a0
-0.2 \u00a0
0.0 \u00a0
-0.2 \u00a0
Amortization and impairment, 31 December 2023 \u00a0
0.0 \u00a0
-31.1 \u00a0
-52.5 \u00a0
-51.2 \u00a0
0.0 \u00a0
-134.8 \u00a0
Carrying amount, 31 December 2023 \u00a0
350.9 \u00a0
35.2 \u00a0
24.4 \u00a0
37.1 \u00a0
96.8 \u00a0
544.4 \u00a0
",
"dimensions": {
"concept": "ifrs-full:DisclosureOfOtherNoncurrentLiabilitiesExplanatory",
"language": "en",
"entity": "scheme:529900197LKWCEQ0NL18",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"fact2140": {
"value": "3.1 Intangible
assets \u00a0
Trademarks, \u00a0
Development \u00a0
Intangible \u00a0
Total \u00a0
patents and \u00a0
projects \u00a0
assets under \u00a0
Intangible \u00a0
Amounts in EURm \u00a0
Goodwill \u00a0
licences etc. \u00a0
IT software \u00a0
completed \u00a0
development \u00a0
assets \u00a0
Cost, 1 January 2022 \u00a0
404.4 \u00a0
100.4 \u00a0
82.2 \u00a0
83.5 \u00a0
89.0 \u00a0
759.5 \u00a0
Disposal of subsidiary \u00a0
0.0 \u00a0
-1.7 \u00a0
0.0 \u00a0
-7.7 \u00a0
-2.3 \u00a0
-11.7 \u00a0
Additions \u00a0
0.0 \u00a0
0.0 \u00a0
1.1 \u00a0
0.2 \u00a0
39.3 \u00a0
40.6 \u00a0
Disposals \u00a0
0.0 \u00a0
0.0 \u00a0
0.0 \u00a0
-0.4 \u00a0
-0.1 \u00a0
-0.5 \u00a0
Transferred between classes of assets \u00a0
0.0 \u00a0
0.0 \u00a0
1.5 \u00a0
8.8 \u00a0
-10.3 \u00a0
0.0 \u00a0
Transferred to assets held for sale \u00a0
-25.3 \u00a0
-26.9 \u00a0
-7.8 \u00a0
-17.9 \u00a0
-24.4 \u00a0
-102.3 \u00a0
Exchange rate adjustments \u00a0
-28.7 \u00a0
-5.6 \u00a0
-0.4 \u00a0
-3.2 \u00a0
-3.5 \u00a0
-41.4 \u00a0
Costs, 31 December 2022 \u00a0
350.4 \u00a0
66.2 \u00a0
76.6 \u00a0
63.3 \u00a0
87.7 \u00a0
644.2 \u00a0
Amortization and impairment, 1 January 2022 \u00a0
0.0 \u00a0
-46.0 \u00a0
-40.0 \u00a0
-51.8 \u00a0
0.0 \u00a0
-137.8 \u00a0
Disposal of subsidiary \u00a0
0.0 \u00a0
1.2 \u00a0
0.0 \u00a0
5.8 \u00a0
0.0 \u00a0
7.0 \u00a0
Amortization for the year \u00a0
0.0 \u00a0
-6.3 \u00a0
-8.5 \u00a0
-11.6 \u00a0
0.0 \u00a0
-26.4 \u00a0
Disposals \u00a0
0.0 \u00a0
0.0 \u00a0
0.0 \u00a0
0.4 \u00a0
0.0 \u00a0
0.4 \u00a0
Transferred to assets held for sale \u00a0
0.0 \u00a0
22.3 \u00a0
2.7 \u00a0
12.3 \u00a0
0.0 \u00a0
37.3 \u00a0
Exchange rate adjustments \u00a0
0.0 \u00a0
2.0 \u00a0
0.4 \u00a0
1.3 \u00a0
0.0 \u00a0
3.7 \u00a0
Amortization and impairment, 31 December 2022 \u00a0
0.0 \u00a0
-26.8 \u00a0
-45.4 \u00a0
-43.6 \u00a0
0.0 \u00a0
-115.8 \u00a0
Carrying amount, 31 December 2022 \u00a0
350.4 \u00a0
39.4 \u00a0
31.2 \u00a0
19.7 \u00a0
87.7 \u00a0
528.4 \u00a0
Cost, 1 January 2023 \u00a0
350.4 \u00a0
66.2 \u00a0
76.6 \u00a0
63.3 \u00a0
87.7 \u00a0
644.2 \u00a0
Additions \u00a0
0.0 \u00a0
0.0 \u00a0
0.0 \u00a0
0.0 \u00a0
33.6 \u00a0
33.6 \u00a0
Transferred between classes of assets \u00a0
0.0 \u00a0
0.0 \u00a0
0.3 \u00a0
24.7 \u00a0
-25.0 \u00a0
0.0 \u00a0
Exchange rate adjustments \u00a0
0.5 \u00a0
0.1 \u00a0
0.0 \u00a0
0.3 \u00a0
0.5 \u00a0
1.4 \u00a0
Costs, 31 December 2023 \u00a0
350.9 \u00a0
66.3 \u00a0
76.9 \u00a0
88.3 \u00a0
96.8 \u00a0
679.2 \u00a0
Amortization and impairment, 1 January 2023 \u00a0
0.0 \u00a0
-26.8 \u00a0
-45.4 \u00a0
-43.6 \u00a0
0.0 \u00a0
-115.8 \u00a0
Amortization for the year \u00a0
0.0 \u00a0
-4.2 \u00a0
-7.2 \u00a0
-7.0 \u00a0
0.0 \u00a0
-18.4 \u00a0
Impairment \u00a0
0.0 \u00a0
0.0 \u00a0
0.0 \u00a0
-0.4 \u00a0
0.0 \u00a0
-0.4 \u00a0
Exchange rate adjustments \u00a0
0.0 \u00a0
-0.1 \u00a0
0.1 \u00a0
-0.2 \u00a0
0.0 \u00a0
-0.2 \u00a0
Amortization and impairment, 31 December 2023 \u00a0
0.0 \u00a0
-31.1 \u00a0
-52.5 \u00a0
-51.2 \u00a0
0.0 \u00a0
-134.8 \u00a0
Carrying amount, 31 December 2023 \u00a0
350.9 \u00a0
35.2 \u00a0
24.4 \u00a0
37.1 \u00a0
96.8 \u00a0
544.4 \u00a0
Accounting policy \u00a0
Goodwill is initially recognized in the balance sheet at \u00a0
cost. Subsequently, goodwill is measured at cost less \u00a0
accumulated impairment losses and is not amortized. \u00a0
The carrying amount of goodwill is allocated to NKT \u00a0
Group\u2019s cash-generating units at the acquisition date. \u00a0
Cash-generating units is based on the managerial \u00a0
structure and internal financial control. As a result \u00a0
of the integration of acquisitions in the existing NKT \u00a0
Group, and identification of operating segments \u00a0
based on the presence of segment managers, Group \u00a0
Management finds that the smallest cash-generating \u00a0
units to which the carrying amount of goodwill can be \u00a0
allocated during testing for impairment are identical to \u00a0
the reportable segments. \u00a0
Other intangible assets, which includes IT software, \u00a0
trademarks, patents and licences, are measured at \u00a0
cost less accumulated amortization and impairment \u00a0
losses and are amortized on a straight-line basis over \u00a0
the remaining patent or contract period or the useful \u00a0
life, whichever is the shorter. \u00a0
Expected useful life is determined as follow: \u00a0
Trademarks, patents and licences, etc. \u00a0
3-15 years \u00a0
IT software \u00a0
3-8 years \u00a0
Completed development projects \u00a0
2-8 years \u00a0
3.3 Impairment
test \u00a0
Result of the annual impairment test \u00a0
At 31 December 2023, the carrying amount of goodwill, other intangible \u00a0
assets and tangible assets were tested for impairment. The impairment test \u00a0
showed no goodwill impairment for 2023 (no goodwill impairment in 2022). \u00a0
The recoverable amount per cash-generating unit exceeded the carrying \u00a0
amount of goodwill, other intangible assets and other assets allocated to \u00a0
the cash-generating unit with the following amounts at 31 December: \u00a0
Headroom in EURm \u00a0
2023 \u00a0
2022 \u00a0
Cash-generating units \u00a0
Solutions \u00a0
1,898 \u00a0
831 \u00a0
Service & Accessories \u00a0
256 \u00a0
120 \u00a0
Cash-generating units \u00a0
Cash-generating units identified in NKT Group are similar to the operating \u00a0
segments, being Solutions, Applications and Service & Accessories. These \u00a0
are considered to be the lowest level of cash-generating units as defined by \u00a0
management. \u00a0
The definition of cash-generating units is based on the smallest identifiable \u00a0
group of assets that together generate cash inflows from continued use \u00a0
and which are independent of the cash flows from other assets or groups \u00a0
of assets. \u00a0
The definition of cash-generating units complies with the managerial \u00a0
structure and the internal financial reporting in NKT Group. For impairment \u00a0
test purposes, tangible assets and intangible assets are allocated to the \u00a0
respective cash-generating units. \u00a0
Significant estimates \u00a0
Goodwill \u00a0
Goodwill has been allocated to the cash-generating units according to the \u00a0
split presented below. The goodwill level in Applications was immaterial and \u00a0
the assumptions for the impairment test of goodwill are not described any \u00a0
further for this cash-generating unit. The carrying amount of goodwill was \u00a0
as follows: \u00a0
Amounts in EURm \u00a0
2023 \u00a0
2022 \u00a0
Solutions \u00a0
298.8 \u00a0
298.1 \u00a0
Applications \u00a0
6.5 \u00a0
6.7 \u00a0
Service & Accessories \u00a0
45.6 \u00a0
45.6 \u00a0
Total \u00a0
350.9 \u00a0
350.4 \u00a0
Accounting policy \u00a0
Goodwill, intangible assets with indefinite useful lives and development \u00a0
projects are tested at least annually for impairment, and furthermore when a \u00a0
trigger event occurs. \u00a0
The carrying amount of goodwill is tested for impairment together with the \u00a0
other non-current assets in the cash-generating unit to which goodwill is allo- \u00a0
cated. The recoverable amount is generally computed as the present value of \u00a0
the expected future net cash flows from the business or activity (cash-gener- \u00a0
ating unit) to which goodwill is allocated. \u00a0
Other non-current assets \u00a0
The carrying amount of other non-current assets is tested when a trigger \u00a0
event occurs which could indicate an impairment, in which case, the recov- \u00a0
erable amount of the asset is determined. The recoverable amount is the fair \u00a0
value of the asset less anticipated cost of disposal, or its value-in-use, which- \u00a0
ever is the higher. \u00a0
The value-in-use is calculated as the present value of expected future cash \u00a0
flows from the asset or the cash-generating unit of which the asset is part. \u00a0
Recognition of impairment loss in the income statement \u00a0
Impairment is recognized if the carrying amount of an asset or a cash-gen- \u00a0
erating unit exceeds the respective recoverable amount. The impairment is \u00a0
recognized in the income statement and impairment of goodwill is recognized \u00a0
in a separate line item in the income statement. \u00a0
Impairment of goodwill is not reversed. Impairment of other assets is reversed \u00a0
in the event of changes having taken place in the conditions and estimates on \u00a0
which the impairment calculation was based. Impairment is only reversed if \u00a0
the new carrying amount of the asset does not exceed the carrying amount \u00a0
that would have applied after amortization if the asset had not been impaired. \u00a0
",
"dimensions": {
"concept": "ifrs-full:DisclosureOfGoodwillExplanatory",
"language": "en",
"entity": "scheme:529900197LKWCEQ0NL18",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"fact2157": {
"value": "3.2 Property,
plant and equipment \u00a0
Right-of-use assets are recognized as follows: \u00a0
Manufacturing \u00a0
Fixtures, \u00a0
Land and \u00a0
plant and \u00a0
fittings, tools \u00a0
Amounts in EURm \u00a0
buildings \u00a0
machinery and
equipment \u00a0
Total \u00a0
Cost, 1 January 2022 \u00a0
40.6 \u00a0
7.1 \u00a0
0.9 \u00a0
48.6 \u00a0
Addition for the year \u00a0
1.8 \u00a0
0.0 \u00a0
0.0 \u00a0
1.8 \u00a0
Disposal of subsidiaries \u00a0
-0.5 \u00a0
0.0 \u00a0
0.0 \u00a0
-0.5 \u00a0
Depreciation of right of use assets \u00a0
-5.4 \u00a0
-1.0 \u00a0
-0.4 \u00a0
-6.8 \u00a0
Transferred to assets held for sale \u00a0
-6.5 \u00a0
0.0 \u00a0
0.0 \u00a0
-6.5 \u00a0
Exchange rate adjustments \u00a0
-1.0 \u00a0
0.0 \u00a0
0.0 \u00a0
-1.0 \u00a0
The carrying amount of right-of-use \u00a0
assets, 31 December 2022 \u00a0
29.0 \u00a0
6.1 \u00a0
0.5 \u00a0
35.6 \u00a0
Cost, 1 January 2023 \u00a0
29.0 \u00a0
6.1 \u00a0
0.5 \u00a0
35.6 \u00a0
Addition for the year \u00a0
31.9 \u00a0
0.0 \u00a0
0.0 \u00a0
31.9 \u00a0
Depreciation of right of use assets \u00a0
-4.6 \u00a0
-1.0 \u00a0
-0.4 \u00a0
-6.0 \u00a0
Exchange rate adjustments \u00a0
0.2 \u00a0
0.0 \u00a0
0.0 \u00a0
0.2 \u00a0
The carrying amount of right-of-use \u00a0
assets, 31 December 2023 \u00a0
56.5 \u00a0
5.1 \u00a0
0.1 \u00a0
61.7 \u00a0
Amounts recognized in the income statement: \u00a0
Amounts in EURm \u00a0
2023 \u00a0
2022 \u00a0
Costs relating to other immaterial leases including short term and low value leases, \u00a0
recognized in the income statement \u00a0
11.0 \u00a0
7.8 \u00a0
Lease liabilities and interests relating to recognized lease contracts are included in Section 5.4 and 5.5 respectively. \u00a0
Future minimum lease payments relating to leases not recognized in the balance sheet amount to EUR 26.8m (EUR \u00a0
11.6m in 2022). \u00a0
Accounting policy \u00a0
Contracts relating to leased equipment are usually \u00a0
made for a fixed period, whereas lease contracts for \u00a0
buildings and land in some instances include an option \u00a0
to extend the lease. When assessing the life of the \u00a0
leases, NKT considers the non-cancellable lease term \u00a0
and options to extend the lease where it is reasonably \u00a0
certain to extend. The lease period of offices and sales \u00a0
buildings are assessed to be approximately 3-10 years, \u00a0
for production facilities 5-10 years and for land up to \u00a0
20 years. For other assets the lease term is equal to \u00a0
the non-cancelable lease period and extensions are \u00a0
not considered. The right-of-use asset is depreciated \u00a0
over the shorter of the asset\u2019s useful life and the lease \u00a0
term on a straight-line basis. \u00a0
Payments related to short-term leases and leases \u00a0
of low-value assets continue to be recognized on \u00a0
a straight-line basis as an expense in the income \u00a0
statement. Low-value assets mainly comprise minor \u00a0
buildings, cars, forklifts, IT-equipment and other office \u00a0
equipment. \u00a0
NKT Group has no leases where the rent is variable \u00a0
depending on revenue, etc. Some contracts are \u00a0
exposed to future increases in variable lease payments \u00a0
based on an index or rate, which are included in the \u00a0
lease liability when they take effect. \u00a0
Property, plant and equipment are measured at cost \u00a0
less accumulated depreciation and impairment losses. \u00a0
Manufacturing \u00a0
Fixtures, fittings,
Property, plant and \u00a0
Total property, \u00a0
Land \u00a0
plant and \u00a0
tools and \u00a0
equipment under \u00a0
plant and \u00a0
Amounts in EURm \u00a0
and buildings \u00a0
machinery \u00a0
equipment \u00a0
construction \u00a0
equipment \u00a0
Cost, 1 January 2022 \u00a0
410.6 \u00a0
675.0 \u00a0
131.5 \u00a0
192.2 \u00a0
1,409.3 \u00a0
Additions \u00a0
4.2 \u00a0
20.6 \u00a0
2.6 \u00a0
134.5 \u00a0
161.9 \u00a0
Additions through business combinations \u00a0
6.4 \u00a0
12.7 \u00a0
0.2 \u00a0
1.6 \u00a0
20.9 \u00a0
Disposal of subsidiary \u00a0
-1.6 \u00a0
-0.3 \u00a0
-3.9 \u00a0
0.0 \u00a0
-5.8 \u00a0
Disposals \u00a0
-0.4 \u00a0
-7.3 \u00a0
-2.2 \u00a0
-1.3 \u00a0
-11.2 \u00a0
Transferred between classes of assets \u00a0
33.4 \u00a0
53.2 \u00a0
16.2 \u00a0
-102.8 \u00a0
0.0 \u00a0
Transferred to assets held for sale \u00a0
-20.9 \u00a0
-16.5 \u00a0
-9.5 \u00a0
-3.4 \u00a0
-50.3 \u00a0
Exchange rate adjustments \u00a0
-13.9 \u00a0
-10.2 \u00a0
-5.8 \u00a0
-11.3 \u00a0
-41.2 \u00a0
Cost, 31 December 2022 \u00a0
417.8 \u00a0
727.2 \u00a0
129.1 \u00a0
209.5 \u00a0
1,483.6 \u00a0
Depreciation and impairment, 1 January 2022 \u00a0
-122.2 \u00a0
-417.5 \u00a0
-85.9 \u00a0
-0.8 \u00a0
-626.4 \u00a0
Depreciation for the year \u00a0
-15.5 \u00a0
-37.7 \u00a0
-12.4 \u00a0
0.0 \u00a0
-65.6 \u00a0
Disposal of subsidiary \u00a0
1.1 \u00a0
0.0 \u00a0
3.4 \u00a0
0.0 \u00a0
4.5 \u00a0
Disposals \u00a0
0.2 \u00a0
7.1 \u00a0
2.2 \u00a0
0.8 \u00a0
10.3 \u00a0
Transferred to assets held for sale \u00a0
8.7 \u00a0
13.7 \u00a0
5.8 \u00a0
0.0 \u00a0
28.2 \u00a0
Exchange rate adjustments \u00a0
2.3 \u00a0
5.1 \u00a0
2.8 \u00a0
0.0 \u00a0
10.2 \u00a0
Depreciation and impairment, 31 December 2022 \u00a0
-125.4 \u00a0
-429.3 \u00a0
-84.1 \u00a0
0.0 \u00a0
-638.8 \u00a0
Carrying amount, 31 December 2022 \u00a0
292.4 \u00a0
297.9 \u00a0
45.0 \u00a0
209.5 \u00a0
844.8 \u00a0
Cost, 1 January 2023 \u00a0
417.8 \u00a0
727.2 \u00a0
129.1 \u00a0
209.5 \u00a0
1,483.6 \u00a0
Additions \u00a0
31.9 \u00a0
13.2 \u00a0
4.4 \u00a0
186.6 \u00a0
236.1 \u00a0
Disposals \u00a0
-17.9 \u00a0
-8.3 \u00a0
-1.7 \u00a0
0.0 \u00a0
-27.9 \u00a0
Transferred between classes of assets \u00a0
67.3 \u00a0
107.8 \u00a0
20.2 \u00a0
-195.3 \u00a0
0.0 \u00a0
Exchange rate adjustments \u00a0
1.6 \u00a0
5.3 \u00a0
0.7 \u00a0
0.2 \u00a0
7.8 \u00a0
Cost, 31 December 2023 \u00a0
500.7 \u00a0
845.2 \u00a0
152.7 \u00a0
201.0 \u00a0
1,699.6 \u00a0
Depreciation and impairment, 1 January 2023 \u00a0
-125.4 \u00a0
-429.3 \u00a0
-84.1 \u00a0
0.0 \u00a0
-638.8 \u00a0
Depreciation for the year \u00a0
-15.7 \u00a0
-42.8 \u00a0
-12.6 \u00a0
0.0 \u00a0
-71.1 \u00a0
Impairment \u00a0
0.0 \u00a0
0.0 \u00a0
-0.1 \u00a0
0.0 \u00a0
-0.1 \u00a0
Disposals \u00a0
17.9 \u00a0
8.2 \u00a0
1.7 \u00a0
0.0 \u00a0
27.8 \u00a0
Transferred between classes of assets \u00a0
-0.1 \u00a0
0.1 \u00a0
0.0 \u00a0
0.0 \u00a0
0.0 \u00a0
Exchange rate adjustments \u00a0
-0.3 \u00a0
-2.4 \u00a0
-0.8 \u00a0
0.0 \u00a0
-3.5 \u00a0
Depreciation and impairment, 31 December 2023 \u00a0
-123.6 \u00a0
-466.2 \u00a0
-95.9 \u00a0
0.0 \u00a0
-685.7 \u00a0
Carrying amount, 31 December 2023 \u00a0
377.1 \u00a0
379.0 \u00a0
56.8 \u00a0
201.0 \u00a0
1,013.9 \u00a0
",
"dimensions": {
"concept": "ifrs-full:DisclosureOfDepreciationAndAmortisationExpenseExplanatory",
"language": "en",
"entity": "scheme:529900197LKWCEQ0NL18",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"fact2158": {
"value": "3.2 Property,
plant and equipment \u00a0
Right-of-use assets are recognized as follows: \u00a0
Manufacturing \u00a0
Fixtures, \u00a0
Land and \u00a0
plant and \u00a0
fittings, tools \u00a0
Amounts in EURm \u00a0
buildings \u00a0
machinery and
equipment \u00a0
Total \u00a0
Cost, 1 January 2022 \u00a0
40.6 \u00a0
7.1 \u00a0
0.9 \u00a0
48.6 \u00a0
Addition for the year \u00a0
1.8 \u00a0
0.0 \u00a0
0.0 \u00a0
1.8 \u00a0
Disposal of subsidiaries \u00a0
-0.5 \u00a0
0.0 \u00a0
0.0 \u00a0
-0.5 \u00a0
Depreciation of right of use assets \u00a0
-5.4 \u00a0
-1.0 \u00a0
-0.4 \u00a0
-6.8 \u00a0
Transferred to assets held for sale \u00a0
-6.5 \u00a0
0.0 \u00a0
0.0 \u00a0
-6.5 \u00a0
Exchange rate adjustments \u00a0
-1.0 \u00a0
0.0 \u00a0
0.0 \u00a0
-1.0 \u00a0
The carrying amount of right-of-use \u00a0
assets, 31 December 2022 \u00a0
29.0 \u00a0
6.1 \u00a0
0.5 \u00a0
35.6 \u00a0
Cost, 1 January 2023 \u00a0
29.0 \u00a0
6.1 \u00a0
0.5 \u00a0
35.6 \u00a0
Addition for the year \u00a0
31.9 \u00a0
0.0 \u00a0
0.0 \u00a0
31.9 \u00a0
Depreciation of right of use assets \u00a0
-4.6 \u00a0
-1.0 \u00a0
-0.4 \u00a0
-6.0 \u00a0
Exchange rate adjustments \u00a0
0.2 \u00a0
0.0 \u00a0
0.0 \u00a0
0.2 \u00a0
The carrying amount of right-of-use \u00a0
assets, 31 December 2023 \u00a0
56.5 \u00a0
5.1 \u00a0
0.1 \u00a0
61.7 \u00a0
Amounts recognized in the income statement: \u00a0
Amounts in EURm \u00a0
2023 \u00a0
2022 \u00a0
Costs relating to other immaterial leases including short term and low value leases, \u00a0
recognized in the income statement \u00a0
11.0 \u00a0
7.8 \u00a0
Lease liabilities and interests relating to recognized lease contracts are included in Section 5.4 and 5.5 respectively. \u00a0
Future minimum lease payments relating to leases not recognized in the balance sheet amount to EUR 26.8m (EUR \u00a0
11.6m in 2022). \u00a0
Accounting policy \u00a0
Contracts relating to leased equipment are usually \u00a0
made for a fixed period, whereas lease contracts for \u00a0
buildings and land in some instances include an option \u00a0
to extend the lease. When assessing the life of the \u00a0
leases, NKT considers the non-cancellable lease term \u00a0
and options to extend the lease where it is reasonably \u00a0
certain to extend. The lease period of offices and sales \u00a0
buildings are assessed to be approximately 3-10 years, \u00a0
for production facilities 5-10 years and for land up to \u00a0
20 years. For other assets the lease term is equal to \u00a0
the non-cancelable lease period and extensions are \u00a0
not considered. The right-of-use asset is depreciated \u00a0
over the shorter of the asset\u2019s useful life and the lease \u00a0
term on a straight-line basis. \u00a0
Payments related to short-term leases and leases \u00a0
of low-value assets continue to be recognized on \u00a0
a straight-line basis as an expense in the income \u00a0
statement. Low-value assets mainly comprise minor \u00a0
buildings, cars, forklifts, IT-equipment and other office \u00a0
equipment. \u00a0
NKT Group has no leases where the rent is variable \u00a0
depending on revenue, etc. Some contracts are \u00a0
exposed to future increases in variable lease payments \u00a0
based on an index or rate, which are included in the \u00a0
lease liability when they take effect. \u00a0
Property, plant and equipment are measured at cost \u00a0
less accumulated depreciation and impairment losses. \u00a0
",
"dimensions": {
"concept": "ifrs-full:DisclosureOfLeasesExplanatory",
"language": "en",
"entity": "scheme:529900197LKWCEQ0NL18",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"fact2141": {
"value": "Accounting policy \u00a0
Goodwill is initially recognized in the balance sheet at \u00a0
cost. Subsequently, goodwill is measured at cost less \u00a0
accumulated impairment losses and is not amortized. \u00a0
The carrying amount of goodwill is allocated to NKT \u00a0
Group\u2019s cash-generating units at the acquisition date. \u00a0
Cash-generating units is based on the managerial \u00a0
structure and internal financial control. As a result \u00a0
of the integration of acquisitions in the existing NKT \u00a0
Group, and identification of operating segments \u00a0
based on the presence of segment managers, Group \u00a0
Management finds that the smallest cash-generating \u00a0
units to which the carrying amount of goodwill can be \u00a0
allocated during testing for impairment are identical to \u00a0
the reportable segments. \u00a0
Other intangible assets, which includes IT software, \u00a0
trademarks, patents and licences, are measured at \u00a0
cost less accumulated amortization and impairment \u00a0
losses and are amortized on a straight-line basis over \u00a0
the remaining patent or contract period or the useful \u00a0
life, whichever is the shorter. \u00a0
Expected useful life is determined as follow: \u00a0
Trademarks, patents and licences, etc. \u00a0
3-15 years \u00a0
IT software \u00a0
3-8 years \u00a0
Completed development projects \u00a0
2-8 years \u00a0
",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForIntangibleAssetsAndGoodwillExplanatory",
"language": "en",
"entity": "scheme:529900197LKWCEQ0NL18",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"fact2142": {
"value": "Accounting policy \u00a0
Goodwill is initially recognized in the balance sheet at \u00a0
cost. Subsequently, goodwill is measured at cost less \u00a0
accumulated impairment losses and is not amortized. \u00a0
The carrying amount of goodwill is allocated to NKT \u00a0
Group\u2019s cash-generating units at the acquisition date. \u00a0
Cash-generating units is based on the managerial \u00a0
structure and internal financial control. As a result \u00a0
of the integration of acquisitions in the existing NKT \u00a0
Group, and identification of operating segments \u00a0
based on the presence of segment managers, Group \u00a0
Management finds that the smallest cash-generating \u00a0
units to which the carrying amount of goodwill can be \u00a0
allocated during testing for impairment are identical to \u00a0
the reportable segments. \u00a0
Accounting policy \u00a0
Goodwill, intangible assets with indefinite useful lives and development \u00a0
projects are tested at least annually for impairment, and furthermore when a \u00a0
trigger event occurs. \u00a0
The carrying amount of goodwill is tested for impairment together with the \u00a0
other non-current assets in the cash-generating unit to which goodwill is allo- \u00a0
cated. The recoverable amount is generally computed as the present value of \u00a0
the expected future net cash flows from the business or activity (cash-gener- \u00a0
ating unit) to which goodwill is allocated. \u00a0
Other non-current assets \u00a0
The carrying amount of other non-current assets is tested when a trigger \u00a0
event occurs which could indicate an impairment, in which case, the recov- \u00a0
erable amount of the asset is determined. The recoverable amount is the fair \u00a0
value of the asset less anticipated cost of disposal, or its value-in-use, which- \u00a0
ever is the higher. \u00a0
The value-in-use is calculated as the present value of expected future cash \u00a0
flows from the asset or the cash-generating unit of which the asset is part. \u00a0
Recognition of impairment loss in the income statement \u00a0
Impairment is recognized if the carrying amount of an asset or a cash-gen- \u00a0
erating unit exceeds the respective recoverable amount. The impairment is \u00a0
recognized in the income statement and impairment of goodwill is recognized \u00a0
in a separate line item in the income statement. \u00a0
Impairment of goodwill is not reversed. Impairment of other assets is reversed \u00a0
in the event of changes having taken place in the conditions and estimates on \u00a0
which the impairment calculation was based. Impairment is only reversed if \u00a0
the new carrying amount of the asset does not exceed the carrying amount \u00a0
that would have applied after amortization if the asset had not been impaired. \u00a0
",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForGoodwillExplanatory",
"language": "en",
"entity": "scheme:529900197LKWCEQ0NL18",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"fact2144": {
"value": "Accounting policy \u00a0
Goodwill is initially recognized in the balance sheet at \u00a0
cost. Subsequently, goodwill is measured at cost less \u00a0
accumulated impairment losses and is not amortized. \u00a0
The carrying amount of goodwill is allocated to NKT \u00a0
Group\u2019s cash-generating units at the acquisition date. \u00a0
Cash-generating units is based on the managerial \u00a0
structure and internal financial control. As a result \u00a0
of the integration of acquisitions in the existing NKT \u00a0
Group, and identification of operating segments \u00a0
based on the presence of segment managers, Group \u00a0
Management finds that the smallest cash-generating \u00a0
units to which the carrying amount of goodwill can be \u00a0
allocated during testing for impairment are identical to \u00a0
the reportable segments. \u00a0
Other intangible assets, which includes IT software, \u00a0
trademarks, patents and licences, are measured at \u00a0
cost less accumulated amortization and impairment \u00a0
losses and are amortized on a straight-line basis over \u00a0
the remaining patent or contract period or the useful \u00a0
life, whichever is the shorter. \u00a0
Expected useful life is determined as follow: \u00a0
Trademarks, patents and licences, etc. \u00a0
3-15 years \u00a0
IT software \u00a0
3-8 years \u00a0
Completed development projects \u00a0
2-8 years \u00a0
Intangible assets under development consists of \u00a0
clearly defined and identifiable development projects \u00a0
where the following requirements are met: The tech- \u00a0
nical feasibility, adequacy of resources and a potential \u00a0
future market can be demonstrated, it is intended to \u00a0
manufacture, market or utilize the project, the cost \u00a0
can be reliably determined, and there is reason- \u00a0
able certainty that the future earnings or net selling \u00a0
prices can cover the carrying amount as well as the \u00a0
development costs necessary to finalize the project. \u00a0
as incurred. Intangible assets under development \u00a0
are measured at cost less accumulated impairment \u00a0
losses. The cost includes wages, amortization and \u00a0
other costs relating to the Group\u2019s development \u00a0
activities. On completion the development work is \u00a0
transferred to Development projects completed or IT \u00a0
software. \u00a0
",
"dimensions": {
"concept": "ifrs-full:DisclosureOfIntangibleAssetsExplanatory",
"language": "en",
"entity": "scheme:529900197LKWCEQ0NL18",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"fact2150": {
"value": "Other intangible assets, which includes IT software, \u00a0
trademarks, patents and licences, are measured at \u00a0
cost less accumulated amortization and impairment \u00a0
losses and are amortized on a straight-line basis over \u00a0
the remaining patent or contract period or the useful \u00a0
life, whichever is the shorter. \u00a0
Expected useful life is determined as follow: \u00a0
Trademarks, patents and licences, etc. \u00a0
3-15 years \u00a0
IT software \u00a0
3-8 years \u00a0
Completed development projects \u00a0
2-8 years \u00a0
",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForIntangibleAssetsOtherThanGoodwillExplanatory",
"language": "en",
"entity": "scheme:529900197LKWCEQ0NL18",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"fact2159": {
"value": "Accounting policy \u00a0
Contracts relating to leased equipment are usually \u00a0
made for a fixed period, whereas lease contracts for \u00a0
buildings and land in some instances include an option \u00a0
to extend the lease. When assessing the life of the \u00a0
leases, NKT considers the non-cancellable lease term \u00a0
and options to extend the lease where it is reasonably \u00a0
certain to extend. The lease period of offices and sales \u00a0
buildings are assessed to be approximately 3-10 years, \u00a0
for production facilities 5-10 years and for land up to \u00a0
20 years. For other assets the lease term is equal to \u00a0
the non-cancelable lease period and extensions are \u00a0
not considered. The right-of-use asset is depreciated \u00a0
over the shorter of the asset\u2019s useful life and the lease \u00a0
term on a straight-line basis. \u00a0
Payments related to short-term leases and leases \u00a0
of low-value assets continue to be recognized on \u00a0
a straight-line basis as an expense in the income \u00a0
statement. Low-value assets mainly comprise minor \u00a0
buildings, cars, forklifts, IT-equipment and other office \u00a0
equipment. \u00a0
NKT Group has no leases where the rent is variable \u00a0
depending on revenue, etc. Some contracts are \u00a0
exposed to future increases in variable lease payments \u00a0
based on an index or rate, which are included in the \u00a0
lease liability when they take effect. \u00a0
Property, plant and equipment are measured at cost \u00a0
less accumulated depreciation and impairment losses. \u00a0
Accounting policy \u00a0
The cost comprises the purchase price and any costs directly attributable \u00a0
to the acquisition. The cost of self-constructed assets comprises costs of \u00a0
materials, components, subcontractors and wages. The cost is supple- \u00a0
mented by the present value of estimated liabilities related to dismantling \u00a0
and removing the asset and restoring the site on which the asset was \u00a0
utilized. \u00a0
Subsequent costs, e.g. relating to replacement of parts of an item of prop- \u00a0
erty, plant and equipment, are recognized in the carrying amount of the \u00a0
asset if it is likely that the costs will result in future economic benefits for \u00a0
the Group. All other costs relating to ordinary repair and maintenance are \u00a0
recognized in the income statement as incurred. \u00a0
Depreciation is done on a straight-line basis over the expected useful life of \u00a0
the assets, as follows: \u00a0
Buildings \u00a0
10 \u2013 50 years \u00a0
Manufacturing plant and machinery \u00a0
4 \u2013 20 years \u00a0
Fixtures, fittings, tools and equipment \u00a0
3 \u2013 15 years \u00a0
Vessel \u00a0
20 years \u00a0
Land is not depreciated \u00a0
If individual parts of an item of property, plant and equipment have different \u00a0
useful lives, they are depreciated separately. \u00a0
The basis of depreciation is calculated according to the residual value less \u00a0
impairment losses. The residual value is determined at the acquisition date \u00a0
and reviewed annually. If the residual value exceeds the carrying amount, \u00a0
depreciation is discontinued. \u00a0
",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForPropertyPlantAndEquipmentExplanatory",
"language": "en",
"entity": "scheme:529900197LKWCEQ0NL18",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"fact2161": {
"value": "Accounting policy \u00a0
Contracts relating to leased equipment are usually \u00a0
made for a fixed period, whereas lease contracts for \u00a0
buildings and land in some instances include an option \u00a0
to extend the lease. When assessing the life of the \u00a0
leases, NKT considers the non-cancellable lease term \u00a0
and options to extend the lease where it is reasonably \u00a0
certain to extend. The lease period of offices and sales \u00a0
buildings are assessed to be approximately 3-10 years, \u00a0
for production facilities 5-10 years and for land up to \u00a0
20 years. For other assets the lease term is equal to \u00a0
the non-cancelable lease period and extensions are \u00a0
not considered. The right-of-use asset is depreciated \u00a0
over the shorter of the asset\u2019s useful life and the lease \u00a0
term on a straight-line basis. \u00a0
Payments related to short-term leases and leases \u00a0
of low-value assets continue to be recognized on \u00a0
a straight-line basis as an expense in the income \u00a0
statement. Low-value assets mainly comprise minor \u00a0
buildings, cars, forklifts, IT-equipment and other office \u00a0
equipment. \u00a0
NKT Group has no leases where the rent is variable \u00a0
depending on revenue, etc. Some contracts are \u00a0
exposed to future increases in variable lease payments \u00a0
based on an index or rate, which are included in the \u00a0
lease liability when they take effect. \u00a0
Property, plant and equipment are measured at cost \u00a0
less accumulated depreciation and impairment losses. \u00a0
",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForLeasesExplanatory",
"language": "en",
"entity": "scheme:529900197LKWCEQ0NL18",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"fact2163": {
"value": "Accounting policy \u00a0
Contracts relating to leased equipment are usually \u00a0
made for a fixed period, whereas lease contracts for \u00a0
buildings and land in some instances include an option \u00a0
to extend the lease. When assessing the life of the \u00a0
leases, NKT considers the non-cancellable lease term \u00a0
and options to extend the lease where it is reasonably \u00a0
certain to extend. The lease period of offices and sales \u00a0
buildings are assessed to be approximately 3-10 years, \u00a0
for production facilities 5-10 years and for land up to \u00a0
20 years. For other assets the lease term is equal to \u00a0
the non-cancelable lease period and extensions are \u00a0
not considered. The right-of-use asset is depreciated \u00a0
over the shorter of the asset\u2019s useful life and the lease \u00a0
term on a straight-line basis. \u00a0
Payments related to short-term leases and leases \u00a0
of low-value assets continue to be recognized on \u00a0
a straight-line basis as an expense in the income \u00a0
statement. Low-value assets mainly comprise minor \u00a0
buildings, cars, forklifts, IT-equipment and other office \u00a0
equipment. \u00a0
NKT Group has no leases where the rent is variable \u00a0
depending on revenue, etc. Some contracts are \u00a0
exposed to future increases in variable lease payments \u00a0
based on an index or rate, which are included in the \u00a0
lease liability when they take effect. \u00a0
Property, plant and equipment are measured at cost \u00a0
less accumulated depreciation and impairment losses. \u00a0
Accounting policy \u00a0
The cost comprises the purchase price and any costs directly attributable \u00a0
to the acquisition. The cost of self-constructed assets comprises costs of \u00a0
materials, components, subcontractors and wages. The cost is supple- \u00a0
mented by the present value of estimated liabilities related to dismantling \u00a0
and removing the asset and restoring the site on which the asset was \u00a0
utilized. \u00a0
Subsequent costs, e.g. relating to replacement of parts of an item of prop- \u00a0
erty, plant and equipment, are recognized in the carrying amount of the \u00a0
asset if it is likely that the costs will result in future economic benefits for \u00a0
the Group. All other costs relating to ordinary repair and maintenance are \u00a0
recognized in the income statement as incurred. \u00a0
Depreciation is done on a straight-line basis over the expected useful life of \u00a0
the assets, as follows: \u00a0
Buildings \u00a0
10 \u2013 50 years \u00a0
Manufacturing plant and machinery \u00a0
4 \u2013 20 years \u00a0
Fixtures, fittings, tools and equipment \u00a0
3 \u2013 15 years \u00a0
Vessel \u00a0
20 years \u00a0
Land is not depreciated \u00a0
If individual parts of an item of property, plant and equipment have different \u00a0
useful lives, they are depreciated separately. \u00a0
The basis of depreciation is calculated according to the residual value less \u00a0
impairment losses. The residual value is determined at the acquisition date \u00a0
and reviewed annually. If the residual value exceeds the carrying amount, \u00a0
depreciation is discontinued. \u00a0
",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForDepreciationExpenseExplanatory",
"language": "en",
"entity": "scheme:529900197LKWCEQ0NL18",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"fact2189": {
"value": "3.3 Impairment
test \u00a0
Result of the annual impairment test \u00a0
At 31 December 2023, the carrying amount of goodwill, other intangible \u00a0
assets and tangible assets were tested for impairment. The impairment test \u00a0
showed no goodwill impairment for 2023 (no goodwill impairment in 2022). \u00a0
The recoverable amount per cash-generating unit exceeded the carrying \u00a0
amount of goodwill, other intangible assets and other assets allocated to \u00a0
the cash-generating unit with the following amounts at 31 December: \u00a0
Headroom in EURm \u00a0
2023 \u00a0
2022 \u00a0
Cash-generating units \u00a0
Solutions \u00a0
1,898 \u00a0
831 \u00a0
Service & Accessories \u00a0
256 \u00a0
120 \u00a0
Cash-generating units \u00a0
Cash-generating units identified in NKT Group are similar to the operating \u00a0
segments, being Solutions, Applications and Service & Accessories. These \u00a0
are considered to be the lowest level of cash-generating units as defined by \u00a0
management. \u00a0
The definition of cash-generating units is based on the smallest identifiable \u00a0
group of assets that together generate cash inflows from continued use \u00a0
and which are independent of the cash flows from other assets or groups \u00a0
of assets. \u00a0
The definition of cash-generating units complies with the managerial \u00a0
structure and the internal financial reporting in NKT Group. For impairment \u00a0
test purposes, tangible assets and intangible assets are allocated to the \u00a0
respective cash-generating units. \u00a0
Significant estimates \u00a0
Goodwill \u00a0
Goodwill has been allocated to the cash-generating units according to the \u00a0
split presented below. The goodwill level in Applications was immaterial and \u00a0
the assumptions for the impairment test of goodwill are not described any \u00a0
further for this cash-generating unit. The carrying amount of goodwill was \u00a0
as follows: \u00a0
Amounts in EURm \u00a0
2023 \u00a0
2022 \u00a0
Solutions \u00a0
298.8 \u00a0
298.1 \u00a0
Applications \u00a0
6.5 \u00a0
6.7 \u00a0
Service & Accessories \u00a0
45.6 \u00a0
45.6 \u00a0
Total \u00a0
350.9 \u00a0
350.4 \u00a0
Accounting policy \u00a0
Goodwill, intangible assets with indefinite useful lives and development \u00a0
projects are tested at least annually for impairment, and furthermore when a \u00a0
trigger event occurs. \u00a0
The carrying amount of goodwill is tested for impairment together with the \u00a0
other non-current assets in the cash-generating unit to which goodwill is allo- \u00a0
cated. The recoverable amount is generally computed as the present value of \u00a0
the expected future net cash flows from the business or activity (cash-gener- \u00a0
ating unit) to which goodwill is allocated. \u00a0
Other non-current assets \u00a0
The carrying amount of other non-current assets is tested when a trigger \u00a0
event occurs which could indicate an impairment, in which case, the recov- \u00a0
erable amount of the asset is determined. The recoverable amount is the fair \u00a0
value of the asset less anticipated cost of disposal, or its value-in-use, which- \u00a0
ever is the higher. \u00a0
The value-in-use is calculated as the present value of expected future cash \u00a0
flows from the asset or the cash-generating unit of which the asset is part. \u00a0
Recognition of impairment loss in the income statement \u00a0
Impairment is recognized if the carrying amount of an asset or a cash-gen- \u00a0
erating unit exceeds the respective recoverable amount. The impairment is \u00a0
recognized in the income statement and impairment of goodwill is recognized \u00a0
in a separate line item in the income statement. \u00a0
Impairment of goodwill is not reversed. Impairment of other assets is reversed \u00a0
in the event of changes having taken place in the conditions and estimates on \u00a0
which the impairment calculation was based. Impairment is only reversed if \u00a0
the new carrying amount of the asset does not exceed the carrying amount \u00a0
that would have applied after amortization if the asset had not been impaired. \u00a0
Solutions \u00a0
Budget period \u00a0
Terminal period \u00a0
2023 \u00a0
2022 \u00a0
2023 \u00a0
2022 \u00a0
Key assumptions \u00a0
Average revenue growth rate \u00a0
12.2% \u00a0
13.0% \u00a0
-
-
Average EBITDA margin \u00a0
20.2% \u00a0
17.5% \u00a0
-
-
Growth rate \u00a0
-
-
2.0% \u00a0
2.0% \u00a0
Average working capital ratio
-103.8% \u00a0
-46.3% \u00a0
-
-
Discount rate after tax \u00a0
9.5% \u00a0
10.0% \u00a0
9.5% \u00a0
10.0% \u00a0
Discount rate before tax \u00a0
12.6% \u00a0
13.3% \u00a0
12.6% \u00a0
13.3% \u00a0
No reasonably possible change in assumptions could lead to an impairment. \u00a0
In 2023, Solutions was awarded high-voltage projects with a combined \u00a0
value of EUR 7bn, resulting in a high-voltage order backlog of EUR 10.8bn \u00a0
at the end of the year. This was a record-high annual order intake for NKT \u00a0
and the largest backlog position in company history. NKT is now firmly \u00a0
entrenched as a key supplier of high-voltage DC technology; and will play \u00a0
a key role in enabling the transition to renewable energy, especially across \u00a0
Europe. The need for more moden and interconnected power grids, \u00a0
capable of meeting structurally higher demand for electricity, continues to \u00a0
be a key growth driver for Solutions. NKT is well positioned to benefit and \u00a0
launched a EUR 1bn investment program in May 2023 to support future \u00a0
profitable growth. The majority of near-term demand continues to stem \u00a0
from Europe, however the US and Asia are expected to become increas- \u00a0
ingly relevant in the years to come. \u00a0
Following a record-high level of awards in 2022, NKT anticipates that its \u00a0
average addressable high-voltage market will be above EUR 10bn per year \u00a0
between 2024 and 2030. Assessing future awards to NKT is by nature \u00a0
subject to uncertainty, and the value-in-use calculation of the Solution \u00a0
cash-generating unit is sensitive to changes in the actual share of projects \u00a0
awarded to NKT. However, the high-voltage order backlog at end-2023 \u00a0
provides higher certainty regarding future revenue and earnings. \u00a0
Service & Accessories \u00a0
Budget period \u00a0
Terminal period \u00a0
2023 \u00a0
2022 \u00a0
2023 \u00a0
2022 \u00a0
Key assumptions \u00a0
Average revenue growth rate \u00a0
6.4% \u00a0
4.6% \u00a0
-
-
Average EBITDA margin \u00a0
16.6% \u00a0
11.9% \u00a0
-
-
Growth rate \u00a0
-
-
2.0% \u00a0
2.0% \u00a0
Average working capital ratio \u00a0
13.2% \u00a0
13.2% \u00a0
-
-
Discount rate after tax \u00a0
9.2% \u00a0
9.7% \u00a0
9.2% \u00a0
9.7% \u00a0
Discount rate before tax \u00a0
12.5% \u00a0
13.1% \u00a0
12.5% \u00a0
13.1% \u00a0
No reasonably possible change in assumptions could lead to an impairment. \u00a0
Power cable services and accessories are crucial aspects of the power cable \u00a0
value chain. The Service & Accessories business line is - to a large degree - \u00a0
dependent on the same market drivers as Solutions. Power grid modernisa- \u00a0
tion and extensions and growth in the installation of high-voltage power cable \u00a0
systems as well as ageing infastructure are expected to drive demand for \u00a0
Service. In Accessories, the transition to renewable energy and the continued \u00a0
electrification of societies are driving strong demand for high- and medium- \u00a0
voltage power cable accessories. These trends are set to continue and the \u00a0
market outlook for the segment is positive in the years to come. \u00a0
In 2023, Service & Accessories achieved revenue growth, despite limited \u00a0
offshore repair work within the Service business, reflecting positive \u00a0
developments within Accessories. Despite the higher revenue level, the \u00a0
operational EBITDA margin decreased due to low activity in the offshore \u00a0
repair business. Despite the lower margin, the business line is becoming \u00a0
more robust and less dependent on service repairs. Other segments \u00a0
continued to perform positively, including NKT's onshore business, where \u00a0
NKT performed well across the majority of its addressable markets. This \u00a0
included onshore service repair work, as well as a steady level of mainte- \u00a0
nance projects throughout the year. Structural growth trends continue to \u00a0
positively impact NKT's Accessories business, which grew revenues and \u00a0
operational EBITDA in 2023. \u00a0
Sensitivity to changes in assumptions \u00a0
No sensitivity analysis has been presented due to no reasonably possible \u00a0
change in assumptions could lead to an impairment. Changes in more \u00a0
assumptions at once is not considered. The general assumption, that NKT \u00a0
will be awarded its fair share of future projects, is not considered separately. \u00a0
It is Management\u2019s assessment that likely changes in the key assumption \u00a0
will not cause the carrying amount of goodwill to exceed the recoverable \u00a0
amount. \u00a0
Impairment on trade receivables amounted to 0% of trade receivables from \u00a0
1% in 2022. For further information on credit risks, please see Section 5.6. \u00a0
Accounting policy \u00a0
Trade receivables are at initial recognition measured at their transaction \u00a0
price less allowance for expected credit losses over the lifetime and are \u00a0
subsequently measured at amortized cost adjusted for changes to the \u00a0
expected credit losses. Expected credit losses at initial recognition are \u00a0
calculated for portfolios of receivables that share credit risk characteristics \u00a0
and is based on historical experience and, when applicable, adjusted for \u00a0
factors that are specific to the debtors and general economic conditions. \u00a0
The portfolios are primarily based on the debtor\u2019s domicile and credit \u00a0
rating in accordance with NKT Groups credit risk management policy, see \u00a0
Section 5.6. \u00a0
When there is an indication of impairment, expected credit losses are \u00a0
calculated at individual level and when there are no reasonable expecta- \u00a0
tions of recovering, the receivable is written off in part or entirely. \u00a0
The allowances for expected credit losses and write-offs for trade receiva- \u00a0
bles are recognized in the income statement as Other costs. \u00a0
",
"dimensions": {
"concept": "ifrs-full:DisclosureOfImpairmentOfAssetsExplanatory",
"language": "en",
"entity": "scheme:529900197LKWCEQ0NL18",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"fact2197": {
"value": "Accounting policy \u00a0
Goodwill, intangible assets with indefinite useful lives and development \u00a0
projects are tested at least annually for impairment, and furthermore when a \u00a0
trigger event occurs. \u00a0
The carrying amount of goodwill is tested for impairment together with the \u00a0
other non-current assets in the cash-generating unit to which goodwill is allo- \u00a0
cated. The recoverable amount is generally computed as the present value of \u00a0
the expected future net cash flows from the business or activity (cash-gener- \u00a0
ating unit) to which goodwill is allocated. \u00a0
Other non-current assets \u00a0
The carrying amount of other non-current assets is tested when a trigger \u00a0
event occurs which could indicate an impairment, in which case, the recov- \u00a0
erable amount of the asset is determined. The recoverable amount is the fair \u00a0
value of the asset less anticipated cost of disposal, or its value-in-use, which- \u00a0
ever is the higher. \u00a0
The value-in-use is calculated as the present value of expected future cash \u00a0
flows from the asset or the cash-generating unit of which the asset is part. \u00a0
Recognition of impairment loss in the income statement \u00a0
Impairment is recognized if the carrying amount of an asset or a cash-gen- \u00a0
erating unit exceeds the respective recoverable amount. The impairment is \u00a0
recognized in the income statement and impairment of goodwill is recognized \u00a0
in a separate line item in the income statement. \u00a0
Impairment of goodwill is not reversed. Impairment of other assets is reversed \u00a0
in the event of changes having taken place in the conditions and estimates on \u00a0
which the impairment calculation was based. Impairment is only reversed if \u00a0
the new carrying amount of the asset does not exceed the carrying amount \u00a0
that would have applied after amortization if the asset had not been impaired. \u00a0
",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForImpairmentOfAssetsExplanatory",
"language": "en",
"entity": "scheme:529900197LKWCEQ0NL18",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"fact2204": {
"value": "Other non-current assets \u00a0
The carrying amount of other non-current assets is tested when a trigger \u00a0
event occurs which could indicate an impairment, in which case, the recov- \u00a0
erable amount of the asset is determined. The recoverable amount is the fair \u00a0
value of the asset less anticipated cost of disposal, or its value-in-use, which- \u00a0
ever is the higher. \u00a0
The value-in-use is calculated as the present value of expected future cash \u00a0
flows from the asset or the cash-generating unit of which the asset is part. \u00a0
",
"dimensions": {
"concept": "ifrs-full:DisclosureOfOtherNoncurrentAssetsExplanatory",
"language": "en",
"entity": "scheme:529900197LKWCEQ0NL18",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"fact2220": {
"value": "3.4 Provisions
and pension liabilities \u00a0
Warranty Restructuring \u00a0
Other \u00a0
Pension \u00a0
Amounts in EURm \u00a0
provision \u00a0
provision \u00a0
provisions liabilities,
net \u00a0
Total \u00a0
Provisions, 1 January 2023 \u00a0
0.9 \u00a0
9.2 \u00a0
24.0 \u00a0
41.3 \u00a0
75.4 \u00a0
Additions in the year \u00a0
3.3 \u00a0
0.2 \u00a0
19.4 \u00a0
1.6 \u00a0
24.5 \u00a0
Used during the year \u00a0
-0.1 \u00a0
-3.6 \u00a0
-4.4 \u00a0
-2.0 \u00a0
-10.1 \u00a0
Reversed during the year \u00a0
-0.2 \u00a0
-0.3 \u00a0
-7.9 \u00a0
0.0 \u00a0
-8.4 \u00a0
Exchange rate adjustment \u00a0
0.0 \u00a0
0.1 \u00a0
0.4 \u00a0
0.0 \u00a0
0.5 \u00a0
Actuarial gains/losses on defined benefit pension plans \u00a0
0.0 \u00a0
0.0 \u00a0
0.0 \u00a0
-1.4 \u00a0
-1.4 \u00a0
Provisions, 31 December 2023 \u00a0
3.9 \u00a0
5.6 \u00a0
31.5 \u00a0
39.5 \u00a0
80.5 \u00a0
Provisions are recognized in the balance sheet as: \u00a0
Non-current liabilities \u00a0
0.0 \u00a0
0.4 \u00a0
10.8 \u00a0
39.5 \u00a0
50.7 \u00a0
Current liabilities \u00a0
3.9 \u00a0
5.2 \u00a0
20.7 \u00a0
0.0 \u00a0
29.8 \u00a0
Total \u00a0
3.9 \u00a0
5.6 \u00a0
31.5 \u00a0
39.5 \u00a0
80.5 \u00a0
Actuarial gains related to the pension liabilities are recognized in other \u00a0
comprehensive income. The pension liability also include other long term \u00a0
benefits relating to anniversary bonuses, etc., amounting to EUR 2.2m (EUR \u00a0
2.0m in 2022). At the end of 2023, there were no plan assets to be offset in \u00a0
the present value of the liability. \u00a0
Actuarial assumptions applied \u00a0
2023 \u00a0
2022 \u00a0
Discount rate \u00a0
3.8% \u00a0
3.4% \u00a0
Future salary increases \u00a0
3.0% \u00a0
3.0% \u00a0
Future pension increases \u00a0
2.3% \u00a0
2.2% \u00a0
Sensitivity analysis \u00a0
The table below shows the sensitivity of the liability to changes in key \u00a0
assumptions for the measurement of the pension liabilities, net. The analysis \u00a0
is based on the changes in the applied key assumptions considered reason- \u00a0
ably likely provided the other parameters in the calculation are unchanged. \u00a0
Amounts in EURm \u00a0
2023 \u00a0
2022 \u00a0
+0.5%-point in discount rate \u00a0
-2.0 \u00a0
-2.2 \u00a0
-0.5%-point in discount rate \u00a0
2.2 \u00a0
2.5 \u00a0
+0.5%-point in future pension increase \u00a0
2.0 \u00a0
2.2 \u00a0
-0.5%-point in future pension increase \u00a0
-1.9 \u00a0
-2.0 \u00a0
A change in the salary increase of 0.5%-points is not considered to have a \u00a0
material effect. \u00a0
Accounting policy \u00a0
The provisions recognized are Management\u2019s best estimate of the amount \u00a0
required to settle the obligation. Warranty provisions are recognized in \u00a0
connection with the sale of goods and services based on the level of \u00a0
warranty expenses incurred in previous years. Restructuring costs are \u00a0
recognized under liabilities when a detailed, formal restructuring plan is \u00a0
announced to the affected parties on or before the balance sheet date. A \u00a0
provision for onerous contracts is recognized when the expected benefits \u00a0
to be derived by the Group from a contract are lower than the Group\u2019s \u00a0
unavoidable costs for meeting its contractual obligations. Provisions for \u00a0
dismantling are measured at the present value of the expected cost at the \u00a0
balance sheet date. The present value of the costs is included in the cost \u00a0
of the relevant tangible assets and depreciated accordingly. The addition \u00a0
of interests on provisions are recognized in the income statement under \u00a0
financial expenses. \u00a0
For the Group\u2019s defined benefit plans, an annual actuarial calculation \u00a0
(the Projected Unit Credit Method) of the present value of future benefits \u00a0
payable under the plan is provided. The present value is determined based \u00a0
on assumptions about the future development in variables such as salary \u00a0
levels, interest rates, inflation and mortality. The present value is determined \u00a0
only for benefits earned by employees from their employment within the \u00a0
Group. The actuarial present value less the fair value of any plan assets is \u00a0
recognized in the balance sheet under pension liabilities. \u00a0
Pension expenses and other long-term employee benefits are recognized \u00a0
in the income statement based on actuarial estimates and financial expec- \u00a0
tations at the start of the year. Actuarial gains or losses are recognized in \u00a0
other comprehensive income. \u00a0
If a pension plan constitutes a net asset, the asset is only recognized if it \u00a0
offsets cumulative actuarial losses or future refunds from the plan, or if it will \u00a0
lead to reduced future payments to the plan. \u00a0
",
"dimensions": {
"concept": "ifrs-full:DisclosureOfProvisionsExplanatory",
"language": "en",
"entity": "scheme:529900197LKWCEQ0NL18",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"fact2231": {
"value": "Accounting policy \u00a0
The provisions recognized are Management\u2019s best estimate of the amount \u00a0
required to settle the obligation. Warranty provisions are recognized in \u00a0
connection with the sale of goods and services based on the level of \u00a0
warranty expenses incurred in previous years. Restructuring costs are \u00a0
recognized under liabilities when a detailed, formal restructuring plan is \u00a0
announced to the affected parties on or before the balance sheet date. A \u00a0
provision for onerous contracts is recognized when the expected benefits \u00a0
to be derived by the Group from a contract are lower than the Group\u2019s \u00a0
unavoidable costs for meeting its contractual obligations. Provisions for \u00a0
dismantling are measured at the present value of the expected cost at the \u00a0
balance sheet date. The present value of the costs is included in the cost \u00a0
of the relevant tangible assets and depreciated accordingly. The addition \u00a0
of interests on provisions are recognized in the income statement under \u00a0
financial expenses. \u00a0
For the Group\u2019s defined benefit plans, an annual actuarial calculation \u00a0
(the Projected Unit Credit Method) of the present value of future benefits \u00a0
payable under the plan is provided. The present value is determined based \u00a0
on assumptions about the future development in variables such as salary \u00a0
levels, interest rates, inflation and mortality. The present value is determined \u00a0
only for benefits earned by employees from their employment within the \u00a0
Group. The actuarial present value less the fair value of any plan assets is \u00a0
recognized in the balance sheet under pension liabilities. \u00a0
Pension expenses and other long-term employee benefits are recognized \u00a0
in the income statement based on actuarial estimates and financial expec- \u00a0
tations at the start of the year. Actuarial gains or losses are recognized in \u00a0
other comprehensive income. \u00a0
If a pension plan constitutes a net asset, the asset is only recognized if it \u00a0
offsets cumulative actuarial losses or future refunds from the plan, or if it will \u00a0
lead to reduced future payments to the plan. \u00a0
",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForProvisionsExplanatory",
"language": "en",
"entity": "scheme:529900197LKWCEQ0NL18",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"fact2236": {
"value": "4.1 Changes
in working capital in cash flow \u00a0
Amounts in EURm \u00a0
2023 \u00a0
2022 \u00a0
Inventory \u00a0
10.5 \u00a0
-62.0 \u00a0
Trade receivables and other receivables \u00a0
-59.8 \u00a0
-71.2 \u00a0
Contract assets and contract liabilities \u00a0
349.7 \u00a0
225.2 \u00a0
Trade payables and other liabilities \u00a0
19.4 \u00a0
93.1 \u00a0
Total \u00a0
319.8 \u00a0
185.1 \u00a0
The numbers in the table above cannot be derived directly from the balance \u00a0
sheet. \u00a0
Amounts in EURm \u00a0
2023 \u00a0
2022 \u00a0
Reconciliation to change in working \u00a0
capital in cash flow \u00a0
Working capital 1 January \u00a0
-303.0 \u00a0
-59.6 \u00a0
Reclassification of discontinued operations \u00a0
1 January \u00a0
0.0 \u00a0
-33.6 \u00a0
Working capital 31 December \u00a0
-708.8 \u00a0
-303.0 \u00a0
Change in working capital based on \u00a0
balance sheet \u00a0
-405.8 \u00a0
-209.8 \u00a0
Effect of unrealized hedges reported \u00a0
on Equity \u00a0
86.8 \u00a0
18.7 \u00a0
Effect of changes in current tax \u00a0
6.0 \u00a0
4.6 \u00a0
Effect of changes in exchange rates, etc. \u00a0
-6.8 \u00a0
1.4 \u00a0
Change in working capital based on \u00a0
cash flow statement \u00a0
-319.8 \u00a0
-185.1 \u00a0
Cash flow from issuance and repurchase \u00a0
of hybrid capital \u00a0
2022 \u00a0
Issue of new hybrid capital \u00a0
150.0 \u00a0
Costs associated with new hybrid capital \u00a0
-1.6 \u00a0
Transferring of former hybrid holders to new hybrid capital \u00a0
-86.7 \u00a0
Proceeds from issurance of hybrid capital \u00a0
61.7 \u00a0
Repayment of previous hybrid capital \u00a0
-150.0 \u00a0
Transferring of former hybrid holders to new hybrid capital \u00a0
86.7 \u00a0
Repurchase of hybrid capital \u00a0
-63.3 \u00a0
",
"dimensions": {
"concept": "ifrs-full:DisclosureOfCashFlowStatementExplanatory",
"language": "en",
"entity": "scheme:529900197LKWCEQ0NL18",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"fact2242": {
"value": "4.3 Receivables \u00a0
In NKT Group, receivables comprise trade and other receivables from \u00a0
external companies, other receivables from derivative financial instruments \u00a0
and prepayments. Receivables are measured at amortized cost, which in \u00a0
all material respects corresponds to fair value and nominal value. \u00a0
Amounts in EURm \u00a0
2023 \u00a0
2022 \u00a0
Trade receivables \u00a0
233.8 \u00a0
208.7 \u00a0
Other receivables incl. derivatives \u00a0
274.3 \u00a0
283.1 \u00a0
Prepayments \u00a0
17.1 \u00a0
30.7 \u00a0
Receivables \u00a0
525.2 \u00a0
522.5 \u00a0
Of the receivables, EUR 0.1m are expected to be received later than 12 \u00a0
months from the reporting date (EUR 0.1m in 2022). \u00a0
Impairment on trade receivables amounted to 0% of trade receivables from \u00a0
1% in 2022. For further information on credit risks, please see Section 5.6. \u00a0
Development in the allowance for credit losses \u00a0
Amounts in EURm \u00a0
2023 \u00a0
2022 \u00a0
Trade receivables, gross \u00a0
235.3 \u00a0
211.4 \u00a0
Allowance for credit losses \u00a0
Allowance for credit losses, 1 January \u00a0
2.7 \u00a0
3.2 \u00a0
Additions during the year \u00a0
0.3 \u00a0
0.6 \u00a0
Reversed during the year \u00a0
-0.9 \u00a0
-0.6 \u00a0
Used during the year \u00a0
-0.7 \u00a0
-0.3 \u00a0
Transferred to assets held for sale \u00a0
0.0 \u00a0
-0.2 \u00a0
Exchange rate adjustments \u00a0
0.1 \u00a0
0.0 \u00a0
Allowance for credit losses, 31 December \u00a0
1.5 \u00a0
2.7 \u00a0
Trade receivables, net \u00a0
233.8 \u00a0
208.7 \u00a0
In 2023, credit losses recognized in the income statement count for 0% \u00a0
of total revenue (0% of total revenue in 2022). The expected loss rates are \u00a0
updated at every reporting date. \u00a0
Accounting policy \u00a0
Trade receivables are at initial recognition measured at their transaction \u00a0
price less allowance for expected credit losses over the lifetime and are \u00a0
subsequently measured at amortized cost adjusted for changes to the \u00a0
expected credit losses. Expected credit losses at initial recognition are \u00a0
calculated for portfolios of receivables that share credit risk characteristics \u00a0
and is based on historical experience and, when applicable, adjusted for \u00a0
factors that are specific to the debtors and general economic conditions. \u00a0
The portfolios are primarily based on the debtor\u2019s domicile and credit \u00a0
rating in accordance with NKT Groups credit risk management policy, see \u00a0
Section 5.6. \u00a0
When there is an indication of impairment, expected credit losses are \u00a0
calculated at individual level and when there are no reasonable expecta- \u00a0
tions of recovering, the receivable is written off in part or entirely. \u00a0
The allowances for expected credit losses and write-offs for trade receiva- \u00a0
bles are recognized in the income statement as Other costs. \u00a0
",
"dimensions": {
"concept": "ifrs-full:DisclosureOfTradeAndOtherReceivablesExplanatory",
"language": "en",
"entity": "scheme:529900197LKWCEQ0NL18",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"fact2243": {
"value": "4.3 Receivables \u00a0
In NKT Group, receivables comprise trade and other receivables from \u00a0
external companies, other receivables from derivative financial instruments \u00a0
and prepayments. Receivables are measured at amortized cost, which in \u00a0
all material respects corresponds to fair value and nominal value. \u00a0
Amounts in EURm \u00a0
2023 \u00a0
2022 \u00a0
Trade receivables \u00a0
233.8 \u00a0
208.7 \u00a0
Other receivables incl. derivatives \u00a0
274.3 \u00a0
283.1 \u00a0
Prepayments \u00a0
17.1 \u00a0
30.7 \u00a0
Receivables \u00a0
525.2 \u00a0
522.5 \u00a0
Of the receivables, EUR 0.1m are expected to be received later than 12 \u00a0
months from the reporting date (EUR 0.1m in 2022). \u00a0
",
"dimensions": {
"concept": "ifrs-full:DisclosureOfPrepaymentsAndOtherAssetsExplanatory",
"language": "en",
"entity": "scheme:529900197LKWCEQ0NL18",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"fact2244": {
"value": "4.3 Receivables \u00a0
In NKT Group, receivables comprise trade and other receivables from \u00a0
external companies, other receivables from derivative financial instruments \u00a0
and prepayments. Receivables are measured at amortized cost, which in \u00a0
all material respects corresponds to fair value and nominal value. \u00a0
Amounts in EURm \u00a0
2023 \u00a0
2022 \u00a0
Trade receivables \u00a0
233.8 \u00a0
208.7 \u00a0
Other receivables incl. derivatives \u00a0
274.3 \u00a0
283.1 \u00a0
Prepayments \u00a0
17.1 \u00a0
30.7 \u00a0
Receivables \u00a0
525.2 \u00a0
522.5 \u00a0
Of the receivables, EUR 0.1m are expected to be received later than 12 \u00a0
months from the reporting date (EUR 0.1m in 2022). \u00a0
Impairment on trade receivables amounted to 0% of trade receivables from \u00a0
1% in 2022. For further information on credit risks, please see Section 5.6. \u00a0
Development in the allowance for credit losses \u00a0
Amounts in EURm \u00a0
2023 \u00a0
2022 \u00a0
Trade receivables, gross \u00a0
235.3 \u00a0
211.4 \u00a0
Allowance for credit losses \u00a0
Allowance for credit losses, 1 January \u00a0
2.7 \u00a0
3.2 \u00a0
Additions during the year \u00a0
0.3 \u00a0
0.6 \u00a0
Reversed during the year \u00a0
-0.9 \u00a0
-0.6 \u00a0
Used during the year \u00a0
-0.7 \u00a0
-0.3 \u00a0
Transferred to assets held for sale \u00a0
0.0 \u00a0
-0.2 \u00a0
Exchange rate adjustments \u00a0
0.1 \u00a0
0.0 \u00a0
Allowance for credit losses, 31 December \u00a0
1.5 \u00a0
2.7 \u00a0
Trade receivables, net \u00a0
233.8 \u00a0
208.7 \u00a0
In 2023, credit losses recognized in the income statement count for 0% \u00a0
of total revenue (0% of total revenue in 2022). The expected loss rates are \u00a0
updated at every reporting date. \u00a0
Accounting policy \u00a0
Trade receivables are at initial recognition measured at their transaction \u00a0
price less allowance for expected credit losses over the lifetime and are \u00a0
subsequently measured at amortized cost adjusted for changes to the \u00a0
expected credit losses. Expected credit losses at initial recognition are \u00a0
calculated for portfolios of receivables that share credit risk characteristics \u00a0
and is based on historical experience and, when applicable, adjusted for \u00a0
factors that are specific to the debtors and general economic conditions. \u00a0
The portfolios are primarily based on the debtor\u2019s domicile and credit \u00a0
rating in accordance with NKT Groups credit risk management policy, see \u00a0
Section 5.6. \u00a0
When there is an indication of impairment, expected credit losses are \u00a0
calculated at individual level and when there are no reasonable expecta- \u00a0
tions of recovering, the receivable is written off in part or entirely. \u00a0
The allowances for expected credit losses and write-offs for trade receiva- \u00a0
bles are recognized in the income statement as Other costs. \u00a0
",
"dimensions": {
"concept": "ifrs-full:DisclosureOfAllowanceForCreditLossesExplanatory",
"language": "en",
"entity": "scheme:529900197LKWCEQ0NL18",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"fact2245": {
"value": "4.3 Receivables \u00a0
In NKT Group, receivables comprise trade and other receivables from \u00a0
external companies, other receivables from derivative financial instruments \u00a0
and prepayments. Receivables are measured at amortized cost, which in \u00a0
all material respects corresponds to fair value and nominal value. \u00a0
Amounts in EURm \u00a0
2023 \u00a0
2022 \u00a0
Trade receivables \u00a0
233.8 \u00a0
208.7 \u00a0
Other receivables incl. derivatives \u00a0
274.3 \u00a0
283.1 \u00a0
Prepayments \u00a0
17.1 \u00a0
30.7 \u00a0
Receivables \u00a0
525.2 \u00a0
522.5 \u00a0
Of the receivables, EUR 0.1m are expected to be received later than 12 \u00a0
months from the reporting date (EUR 0.1m in 2022). \u00a0
Raw material price risks \u00a0
Raw material price risks primarily relate to metals and \u00a0
plastics used in the cable production. When changes in \u00a0
raw material prices cannot be transferred to customers, \u00a0
NKT uses financial instruments to hedge the price risks. \u00a0
NKT has, due to the larger order backlog, a high amount \u00a0
of raw material derivatives to cover the risks related to the \u00a0
large future purchases of especially copper. Exposures \u00a0
and hedging of current and expected future raw material \u00a0
risks are managed by the businesses based on adopted \u00a0
Group guidelines. Hedging of awarded projects are done \u00a0
at the time of award and adjusted according to changes \u00a0
in production plans. \u00a0
NKT hedges raw materials by purchasing hedging instru- \u00a0
ments on London Metal Exchange via financial counter- \u00a0
parties. Changes in the fair value of the hedging instru- \u00a0
ment should offset changes in the value of the underlying \u00a0
item because the reference prices are the same for the \u00a0
hedging instrument and the hedged item. NKT applies \u00a0
cost of hedging, whereby the forward points are recog- \u00a0
nized in other comprehensive income and transferred with \u00a0
the effective hedge when the hedged transaction occurs. \u00a0
For the hedge of plastic, ineffectiveness will arise as this \u00a0
is hedged via a gas-oil proxy hedge. Ineffectiveness \u00a0
because of differences in the change between gas-oil \u00a0
and plastic are considered insignificant. \u00a0
As at 31 December 2023, NKT A/S had current finan- \u00a0
cial hedging instruments relating to future raw material \u00a0
supplies with a net notional value of EUR 1,083.9m (EUR \u00a0
908.6m in 2022) and a net positive fair value of EUR \u00a0
77.4m (positive value of EUR 170.8m in 2022). \u00a0
Sensitivity to the development (+/- 10%) in raw material \u00a0
prices is presented in the table on page 89. The table to \u00a0
the right provides an overview of the cash flow hedges \u00a0
related to raw materials. \u00a0
Cash flow hedges related to \u00a0
Average rate \u00a0
Notional value \u00a0
Fair value \u00a0
raw materials \u00a0
EUR/ton \u00a0
EURm \u00a0
EURm \u00a0
31 Dec \u00a0
31 Dec \u00a0
31 Dec \u00a0
31 Dec \u00a0
31 Dec \u00a0
31 Dec \u00a0
Commodity \u00a0
2023 \u00a0
2022 \u00a0
2023 \u00a0
2022 \u00a0
2023 \u00a0
2022 \u00a0
Copper \u00a0
Buy \u00a0
Less than 1 year \u00a0
6.652 \u00a0
5.961 \u00a0
578.7 \u00a0
528.6 \u00a0
84.3 \u00a0
169.6 \u00a0
More than 1 year \u00a0
7.915 \u00a0
7.485 \u00a0
253.7 \u00a0
301.2 \u00a0
-13.0 \u00a0
15.6 \u00a0
Sell \u00a0
Less than 1 year \u00a0
7.112 \u00a0
6.421 \u00a0
-69.2 \u00a0
-119.4 \u00a0
5.5 \u00a0
-26.9 \u00a0
More than 1 year \u00a0
Lead \u00a0
Buy \u00a0
Less than 1 year \u00a0
1.903 \u00a0
1.843 \u00a0
25.9 \u00a0
20.0 \u00a0
-0.8 \u00a0
4.0 \u00a0
More than 1 year \u00a0
1.996 \u00a0
1.897 \u00a0
59.1 \u00a0
10.2 \u00a0
-3.0 \u00a0
1.7 \u00a0
Sell \u00a0
Less than 1 year \u00a0
1.804 \u00a0
1.885 \u00a0
-1.0 \u00a0
-3.2 \u00a0
0.0 \u00a0
-0.5 \u00a0
More than 1 year \u00a0
Aluminium \u00a0
Buy \u00a0
Less than 1 year \u00a0
2.051 \u00a0
2.349 \u00a0
9.3 \u00a0
13.3 \u00a0
0.4 \u00a0
-0.8 \u00a0
More than 1 year \u00a0
2.459 \u00a0
39.4 \u00a0
Sell \u00a0
Less than 1 year \u00a0
2.000 \u00a0
2.312 \u00a0
-12.4 \u00a0
-24.9 \u00a0
0.8 \u00a0
1.1 \u00a0
More than 1 year \u00a0
Gas-oil \u00a0
Buy \u00a0
Less than 1 year \u00a0
550 \u00a0
620 \u00a0
18.6 \u00a0
20.4 \u00a0
3.6 \u00a0
5.5 \u00a0
More than 1 year \u00a0
615 \u00a0
613 \u00a0
11.7 \u00a0
13.0 \u00a0
-0.2 \u00a0
1.5 \u00a0
Sell \u00a0
Less than 1 year \u00a0
669 \u00a0
634 \u00a0
-4.0 \u00a0
-2.0 \u00a0
0.0 \u00a0
-0.6 \u00a0
More than 1 year \u00a0
847 \u00a0
847 \u00a0
-1.0 \u00a0
-2.9 \u00a0
-0.3 \u00a0
0.6 \u00a0
Cash flow hedges reported as assets \u00a0
83.9 \u00a0
171.0 \u00a0
Cash flow hedges reported as liabilities \u00a0
6.5 \u00a0
0.2 \u00a0
Cash flow hedge reserve \u00a0
Foreign \u00a0
exchange \u00a0
Interest rate \u00a0
Commodity \u00a0
Amounts in EURm \u00a0
risk hedging \u00a0
risk hedging \u00a0
risk hedging \u00a0
Total \u00a0
Balance at 1 January 2022 \u00a0
-3.3 \u00a0
0.6 \u00a0
184.7 \u00a0
182.0 \u00a0
Gain/(loss) arising from changes in fair value of hedging instruments \u00a0
0.8 \u00a0
6.7 \u00a0
63.9 \u00a0
71.4 \u00a0
(Gain)/loss reclassified to profit or loss - hedged items have affected profit or loss \u00a0
3.0 \u00a0
0.0 \u00a0
-125.8 \u00a0
-122.8 \u00a0
Deferred tax \u00a0
-0.8 \u00a0
-1.5 \u00a0
17.3 \u00a0
15.0 \u00a0
Balance at 31 December 2022 \u00a0
-0.3 \u00a0
5.8 \u00a0
140.1 \u00a0
145.6 \u00a0
Gain/(loss) arising from changes in fair value of hedging instruments \u00a0
22.3 \u00a0
-2.3 \u00a0
30.6 \u00a0
50.6 \u00a0
(Gain)/loss reclassified to profit or loss - hedged items have affected profit or loss \u00a0
-2.4 \u00a0
0.0 \u00a0
-135.0 \u00a0
-137.4 \u00a0
Deferred tax \u00a0
1.4 \u00a0
0.6 \u00a0
26.8 \u00a0
28.8 \u00a0
Balance at 31 December 2023 \u00a0
21.0 \u00a0
4.1 \u00a0
62.5 \u00a0
87.6 \u00a0
Cost of hedging reserve \u00a0
Foreign \u00a0
exchange \u00a0
Interest rate \u00a0
Commodity \u00a0
Amounts in EURm \u00a0
risk hedging \u00a0
risk hedging \u00a0
risk hedging \u00a0
Total \u00a0
Balance at 1 January 2022 \u00a0
-1.0 \u00a0
0.0 \u00a0
-15.2 \u00a0
-16.2 \u00a0
Loss arising from changes in fair value of hedging instruments \u00a0
1.3 \u00a0
0.0 \u00a0
0.4 \u00a0
1.7 \u00a0
Loss reclassified to profit or loss - hedged items have affected profit or loss \u00a0
0.0 \u00a0
0.0 \u00a0
2.9 \u00a0
2.9 \u00a0
Deferred tax \u00a0
-0.3 \u00a0
0.0 \u00a0
-0.8 \u00a0
-1.1 \u00a0
Balance at 31 December 2022 \u00a0
0.0 \u00a0
0.0 \u00a0
-12.7 \u00a0
-12.7 \u00a0
Gain/(loss) arising from changes in fair value of hedging instruments \u00a0
-10.0 \u00a0
0.0 \u00a0
34.8 \u00a0
24.8 \u00a0
(Gain)/loss reclassified to profit or loss - hedged items have affected profit or loss \u00a0
1.1 \u00a0
0.0 \u00a0
-3.8 \u00a0
-2.7 \u00a0
Deferred tax \u00a0
-0.6 \u00a0
0.0 \u00a0
-8.1 \u00a0
-8.7 \u00a0
Balance at 31 December 2023 \u00a0
-9.5 \u00a0
0.0 \u00a0
10.2 \u00a0
0.7 \u00a0
Of the fair values recorded in other comprehensive income, EUR 5.9m is expected to be recorded in Revenue (EUR 0.6m in 2022) and EUR 82.4m (EUR \u00a0
132.3m in 2022) is expected to be recorded in Cost of raw materials, consumables and goods for resale. \u00a0
Categories of financial instruments \u00a0
Amounts in EURm \u00a0
2023 \u00a0
2022 \u00a0
Financial assets \u00a0
Measured at amortized costs: \u00a0
Receivables \u00a0
339.8 \u00a0
273.2 \u00a0
Contract assets \u00a0
106.9 \u00a0
98.2 \u00a0
Interest bearing receivables \u00a0
0.2 \u00a0
0.2 \u00a0
Cash at bank and in hand \u00a0
887.9 \u00a0
258.5 \u00a0
Measured at fair value \u00a0
through profit /loss: \u00a0
Other investments and \u00a0
receivables \u00a0
0.8 \u00a0
0.8 \u00a0
Derivative financial instruments \u00a0
185.4 \u00a0
249.3 \u00a0
Financial liabilities \u00a0
Measured at amortized costs: \u00a0
Trade payables and other liabilities \u00a0
509.0 \u00a0
502.1 \u00a0
Interest-bearing loans and borrowings \u00a0
207.4 \u00a0
195.8 \u00a0
Measured at fair value \u00a0
through profit /loss: \u00a0
Derivative financial instruments \u00a0
94.3 \u00a0
76.6 \u00a0
In the table above, financial instruments are presented in the categories \u00a0
which determine, how they will be measured in the financial statements. \u00a0
",
"dimensions": {
"concept": "ifrs-full:DisclosureOfDerivativeFinancialInstrumentsExplanatory",
"language": "en",
"entity": "scheme:529900197LKWCEQ0NL18",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"fact2256": {
"value": "Accounting policy \u00a0
Trade receivables are at initial recognition measured at their transaction \u00a0
price less allowance for expected credit losses over the lifetime and are \u00a0
subsequently measured at amortized cost adjusted for changes to the \u00a0
expected credit losses. Expected credit losses at initial recognition are \u00a0
calculated for portfolios of receivables that share credit risk characteristics \u00a0
and is based on historical experience and, when applicable, adjusted for \u00a0
factors that are specific to the debtors and general economic conditions. \u00a0
The portfolios are primarily based on the debtor\u2019s domicile and credit \u00a0
rating in accordance with NKT Groups credit risk management policy, see \u00a0
Section 5.6. \u00a0
When there is an indication of impairment, expected credit losses are \u00a0
calculated at individual level and when there are no reasonable expecta- \u00a0
tions of recovering, the receivable is written off in part or entirely. \u00a0
The allowances for expected credit losses and write-offs for trade receiva- \u00a0
bles are recognized in the income statement as Other costs. \u00a0
",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForTradeAndOtherReceivablesExplanatory",
"language": "en",
"entity": "scheme:529900197LKWCEQ0NL18",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"fact2250": {
"value": "Development in the allowance for credit losses \u00a0
Amounts in EURm \u00a0
2023 \u00a0
2022 \u00a0
Trade receivables, gross \u00a0
235.3 \u00a0
211.4 \u00a0
Allowance for credit losses \u00a0
Allowance for credit losses, 1 January \u00a0
2.7 \u00a0
3.2 \u00a0
Additions during the year \u00a0
0.3 \u00a0
0.6 \u00a0
Reversed during the year \u00a0
-0.9 \u00a0
-0.6 \u00a0
Used during the year \u00a0
-0.7 \u00a0
-0.3 \u00a0
Transferred to assets held for sale \u00a0
0.0 \u00a0
-0.2 \u00a0
Exchange rate adjustments \u00a0
0.1 \u00a0
0.0 \u00a0
Allowance for credit losses, 31 December \u00a0
1.5 \u00a0
2.7 \u00a0
Trade receivables, net \u00a0
233.8 \u00a0
208.7 \u00a0
In 2023, credit losses recognized in the income statement count for 0% \u00a0
of total revenue (0% of total revenue in 2022). The expected loss rates are \u00a0
updated at every reporting date. \u00a0
Credit risks \u00a0
Credit risk arises from the possibility that transactional counterparties may \u00a0
default on their obligations causing financial losses for the Group. \u00a0
NKT\u2019s credit risks relate partly to receivables, contract assets and cash at \u00a0
bank and in hand, and partly to derivative financial instruments with positive \u00a0
fair value. The maximum credit risk attached to financial assets correspond to \u00a0
the values recognized in the balance sheet. \u00a0
To manage credit risk regarding financial counterparties, NKT only enters into \u00a0
derivative financial contracts and money market deposits with financial coun- \u00a0
terparties possessing a long-term credit rating of \u2018A-\u2018 from at least one out of \u00a0
the following three selected rating agencies: Standard and Poor's, Moody's \u00a0
or Fitch. \u00a0
NKT has no material risks relating to a single customer or partner. NKT\u2019s \u00a0
policy for acceptance of credit risks entails ongoing monitoring and credit \u00a0
rating of important customers and other partners. NKT obtains prepayments \u00a0
or bank guarantees from customers, when considered needed. Thus, insur- \u00a0
ance cover and similar measures to hedge receivables are rarely applied as \u00a0
NKT historically has had only few material losses. \u00a0
",
"dimensions": {
"concept": "ifrs-full:DisclosureOfCreditRiskExplanatory",
"language": "en",
"entity": "scheme:529900197LKWCEQ0NL18",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"fact2268": {
"value": "Section 5 \u2013 Capital structure and financial risk management \u00a0
NKT\u2019s Capital structure targets are related \u00a0
to solvency (ratio of minimum 30%) and \u00a0
operational EBITDA leverage (ratio up to \u00a0
0.0x). \u00a0
Financial risk management mainly relates \u00a0
to managing the risks related to currency, \u00a0
commodities and interest rate risks relating \u00a0
to the financing. \u00a0
5.1 Share
capital \u00a0
NKT A/S\u2019 share capital consists of shares with a nominal value of DKK \u00a0
20 each. No shares carry special rights. NKT A/S\u2019 Articles of Associa- \u00a0
tion specify no limits in respect of ownership or voting right, and Group \u00a0
Management is unaware of any agreements in this regard. \u00a0
Distribution of dividend to shareholders of NKT A/S has no tax conse- \u00a0
quences for the company. \u00a0
In July 2023 NKT A/S completed a rights issue resulting in 10,744,009 \u00a0
new shares. As a result of the issue the Company's share capital as of 31. \u00a0
December 2023 amounts to DKK 1,074,400,900 divided into 53,720,045 \u00a0
shares with a nominal value of DKK 20 each. As per 31. December \u00a0
2022 and 2021 the share capital comprised 42,976,036 shares with \u00a0
a nominal value of DKK 20 per share. During 2023, 150,000 treasury \u00a0
shares were purchased (75,000 during 2022) of which 87,113 are held at \u00a0
31 December 2023 (16,055 at 31 December 2022). \u00a0
Accounting policy \u00a0
Dividend is recognized as a liability at the date of adoption at the Annual \u00a0
General Meeting (declaration date). Proposed dividend payments for the \u00a0
year are disclosed as a separate item under equity. Interim dividend is \u00a0
recognized as a liability at the date when the decision to pay such dividend \u00a0
is made. \u00a0
Acquisition costs, consideration received, and dividends relating to treasury \u00a0
shares, are recognized directly in retained comprehensive income in equity. \u00a0
",
"dimensions": {
"concept": "ifrs-full:DisclosureOfShareCapitalReservesAndOtherEquityInterestExplanatory",
"language": "en",
"entity": "scheme:529900197LKWCEQ0NL18",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"fact2269": {
"value": "Section 5 \u2013 Capital structure and financial risk management \u00a0
NKT\u2019s Capital structure targets are related \u00a0
to solvency (ratio of minimum 30%) and \u00a0
operational EBITDA leverage (ratio up to \u00a0
0.0x). \u00a0
Financial risk management mainly relates \u00a0
to managing the risks related to currency, \u00a0
commodities and interest rate risks relating \u00a0
to the financing. \u00a0
5.6 Financial
risks and financial instruments \u00a0
Financial risk management policy \u00a0
NKT is exposed to and manages several financial risks due \u00a0
to its operations, investments and financing activities. The \u00a0
risk policy does not allow for speculation in financial risks. \u00a0
The risk management policy is managed by Group \u00a0
Treasury. The general principle is that all known risks \u00a0
are hedged, though with acceptance of an open posi- \u00a0
tion within a defined threshold. The risk thresholds are \u00a0
defined at a level, that insure NKT is sufficiently protected \u00a0
against any risk, while providing Group Treasury room for \u00a0
managing risks efficiently. \u00a0
NKT uses financial instruments, such as forwards, swaps \u00a0
and interest rate caps to hedge exposures relating to \u00a0
currency, interest rates, and commodities. While options \u00a0
are also available as instruments, no option contracts are \u00a0
active at the end of 2023 (none in 2022). \u00a0
The financial risks, as described further below, are divided into: \u00a0
\u25a0
Currency risks \u00a0
Interest rate risks \u00a0
\u25a0
\u25a0
Raw material price risks \u00a0
Credit risks \u00a0
\u25a0
\u25a0
Liquidity risks \u00a0
Currency risks \u00a0
With presence in several countries NKT is exposed to \u00a0
currency risks that may have considerable influence on \u00a0
the income statement and balance sheet. Currency risks \u00a0
refer to the risks of losses (or opportunities for gains) \u00a0
resulting from changes in currency rates. Currency risks \u00a0
arise through transactions, financial assets and liabilities \u00a0
denominated in currencies other than the functional \u00a0
currency of the individual businesses. Quantification and \u00a0
identification of existing and anticipated currency risks \u00a0
are the responsibility of the individual businesses, while \u00a0
the actual hedging is executed by Group Treasury. \u00a0
NKT does not hedge the currency risks related to net \u00a0
investments in foreign subsidiaries. Gains and losses \u00a0
relating to unhedged net assets in foreign subsidiaries are \u00a0
accounted directly in other comprehensive income. \u00a0
The principal currency exposure relates to sales and \u00a0
purchases in currencies other than the functional \u00a0
currency of the businesses. Hedging of these currency \u00a0
risks are based on an assessment of the likelihood of the \u00a0
future transaction being performed and materiality. \u00a0
Expected cash flows with significant currency risk are \u00a0
hedged as they become known. Currency risks from \u00a0
project-related sales are considered on an individual basis. \u00a0
The fair value of the effective part of the hedge is recognized \u00a0
in other comprehensive income on a continuous basis. \u00a0
The table on the next page shows net outstanding \u00a0
forward exchange hedging contracts as at 31 December \u00a0
for NKT, which are used for and fulfil the conditions for \u00a0
hedge accounting of future transactions. \u00a0
The fair value of the total portfolio of currency hedge \u00a0
contracts will impact other comprehensive income if \u00a0
currency rates change. The effect of a 10% increase in \u00a0
selected currency rates is shown in the table to the right. \u00a0
As NKT currently only uses forwards and spots to hedge \u00a0
the FX risks, and only designate the spot element, \u00a0
the likelihood of inefficiency is low, though possible if \u00a0
changes in expected cashflows from projects are not \u00a0
reflected correctly in the hedges. \u00a0
Interest rate risks \u00a0
Interest rate risks refer to the influence of changes in \u00a0
market interest rates on future cash flows concerning \u00a0
interest-bearing assets and liabilities. \u00a0
In 2023 two interest rate swaps were terminated, hence, \u00a0
at the end of 2023 no interest rate swaps existed. In 2022 \u00a0
no interest rate swaps were made. \u00a0
As of end-2023, the market value of the interest rate \u00a0
derivatives was EUR 0.0m (EUR 7.6m in 2022). \u00a0
Sensitivity analysis - financial instruments \u00a0
EURm \u00a0
2023 \u00a0
2022 \u00a0
Effect on \u00a0
Effect on \u00a0
Effect on \u00a0
Effect on \u00a0
Price \u00a0
earnings \u00a0
equity \u00a0
earnings \u00a0
equity \u00a0
Risk \u00a0
change \u00a0
before tax \u00a0
before tax \u00a0
before tax \u00a0
before tax \u00a0
SEK \u00a0
10% \u00a0
13.7 \u00a0
40.5 \u00a0
-43.7 \u00a0
62.5 \u00a0
-10% \u00a0
-13.7 \u00a0
-40.5 \u00a0
43.7 \u00a0
-62.5 \u00a0
GBP \u00a0
10% \u00a0
-0.2 \u00a0
-15.1 \u00a0
0.3 \u00a0
-22.8 \u00a0
-10% \u00a0
0.2 \u00a0
15.1 \u00a0
-0.3 \u00a0
22.8 \u00a0
NOK \u00a0
10% \u00a0
1.1 \u00a0
2.2 \u00a0
0.0 \u00a0
2.6 \u00a0
-10% \u00a0
-1.1 \u00a0
-2.2 \u00a0
0.0 \u00a0
-2.6 \u00a0
USD \u00a0
10% \u00a0
-1.9 \u00a0
-24.5 \u00a0
0.0 \u00a0
-29.4 \u00a0
-10% \u00a0
1.9 \u00a0
24.5 \u00a0
0.0 \u00a0
29.4 \u00a0
CZK \u00a0
10% \u00a0
0.0 \u00a0
0.0 \u00a0
-0.8 \u00a0
-0.4 \u00a0
-10% \u00a0
0.0 \u00a0
0.0 \u00a0
0.8 \u00a0
0.4 \u00a0
PLN \u00a0
10% \u00a0
-1.3 \u00a0
0.0 \u00a0
3.6 \u00a0
0.0 \u00a0
-10% \u00a0
1.3 \u00a0
0.0 \u00a0
-3.6 \u00a0
0.0 \u00a0
CAD \u00a0
10% \u00a0
0.0 \u00a0
-3.6 \u00a0
0.0 \u00a0
-6.2 \u00a0
-10% \u00a0
0.0 \u00a0
3.6 \u00a0
0.0 \u00a0
6.2 \u00a0
Copper \u00a0
10% \u00a0
0.0 \u00a0
50.9 \u00a0
0.0 \u00a0
54.5 \u00a0
-10% \u00a0
0.0 \u00a0
-50.9 \u00a0
0.0 \u00a0
-54.5 \u00a0
Lead \u00a0
10% \u00a0
0.0 \u00a0
2.5 \u00a0
0.0 \u00a0
1.9 \u00a0
-10% \u00a0
0.0 \u00a0
-2.5 \u00a0
0.0 \u00a0
-1.9 \u00a0
Aluminium \u00a0
10% \u00a0
0.0 \u00a0
0.3 \u00a0
0.0 \u00a0
-1.1 \u00a0
-10% \u00a0
0.0 \u00a0
-0.3 \u00a0
0.0 \u00a0
1.1 \u00a0
Gas-oil \u00a0
10% \u00a0
0.0 \u00a0
1.5 \u00a0
0.0 \u00a0
2.3 \u00a0
-10% \u00a0
0.0 \u00a0
-1.5 \u00a0
0.0 \u00a0
-2.3 \u00a0
The table above shows a sensitivity analysis of the exposures in currencies and commodities assuming effective hedge \u00a0
accounting is continued to be applied. The presented effects are from the financial instruments only (all things being \u00a0
equal). When also considering the development of the underlying exposure the future income statement effects, will be \u00a0
fully or partially offset as hedge accounting is applied. \u00a0
Cash flow hedges related to \u00a0
Notional value \u00a0
Notional value \u00a0
Fair value \u00a0
the most significant currencies \u00a0
Average exchange rate1 \u00a0
Local currency in million \u00a0
EURm \u00a0
EURm \u00a0
Local currency \u00a0
31 Dec 2023
31 Dec 2022
31 Dec 2022
31 Dec 2022
31 Dec 2022 \u00a0
31 Dec 2023
31 Dec 2023
31 Dec 2023
SEK2 \u00a0
Buy \u00a0
Less than 1 year \u00a0
0.0901 \u00a0
0.0943 \u00a0
12,911.34 \u00a0
7,661.54 \u00a0
1,163.10 \u00a0
722.30 \u00a0
-3.8 \u00a0
-35.8 \u00a0
More than 1 year \u00a0
0.0895 \u00a0
0.0938 \u00a0
10,595.12 \u00a0
8,963.35 \u00a0
948.57 \u00a0
840.94 \u00a0
2.7 \u00a0
-37.8 \u00a0
Sell \u00a0
Less than 1 year \u00a0
0.0888 \u00a0
0.0926 \u00a0
10,291.22 \u00a0
6,873.45 \u00a0
913.67 \u00a0
636.51 \u00a0
-10.3 \u00a0
20.6 \u00a0
More than 1 year \u00a0
0.0886 \u00a0
0.0940 \u00a0
8,724.97 \u00a0
3,431.63 \u00a0
772.92 \u00a0
322.62 \u00a0
-10.5 \u00a0
15.1 \u00a0
USD \u00a0
Buy \u00a0
Less than 1 year \u00a0
0.9230 \u00a0
0.9410 \u00a0
798.24 \u00a0
562.29 \u00a0
736.78 \u00a0
529.13 \u00a0
-23.4 \u00a0
-9.5 \u00a0
More than 1 year \u00a0
0.9088 \u00a0
0.9486 \u00a0
592.35 \u00a0
281.06 \u00a0
538.31 \u00a0
266.62 \u00a0
-15.7 \u00a0
-10.6 \u00a0
Sell \u00a0
Less than 1 year \u00a0
0.9246 \u00a0
0.9697 \u00a0
882.48 \u00a0
542.51 \u00a0
815.96 \u00a0
526.09 \u00a0
30.6 \u00a0
25.1 \u00a0
More than 1 year \u00a0
0.9142 \u00a0
0.9341 \u00a0
778.72 \u00a0
617.35 \u00a0
711.88 \u00a0
576.67 \u00a0
28.2 \u00a0
15.8 \u00a0
GBP \u00a0
Buy \u00a0
Less than 1 year \u00a0
1.1379 \u00a0
1.1522 \u00a0
125.13 \u00a0
104.12 \u00a0
142.38 \u00a0
119.97 \u00a0
-3.2 \u00a0
-3.3 \u00a0
More than 1 year \u00a0
1.1146 \u00a0
1.1626 \u00a0
195.36 \u00a0
35.24 \u00a0
217.74 \u00a0
40.97 \u00a0
0.9 \u00a0
-1.7 \u00a0
Sell \u00a0
Less than 1 year \u00a0
1.1477 \u00a0
1.1551 \u00a0
250.21 \u00a0
144.55 \u00a0
287.17 \u00a0
166.98 \u00a0
6.3 \u00a0
5.1 \u00a0
More than 1 year \u00a0
1.1410 \u00a0
1.1702 \u00a0
201.26 \u00a0
196.46 \u00a0
229.63 \u00a0
229.90 \u00a0
4.2 \u00a0
9.8 \u00a0
NOK \u00a0
Buy \u00a0
Less than 1 year \u00a0
0.0883 \u00a0
0.0975 \u00a0
310.51 \u00a0
329.04 \u00a0
27.43 \u00a0
32.08 \u00a0
0.2 \u00a0
-1.7 \u00a0
More than 1 year \u00a0
0.0895 \u00a0
0.1028 \u00a0
208.41 \u00a0
151.65 \u00a0
18.66 \u00a0
15.59 \u00a0
-0.2 \u00a0
-1.4 \u00a0
Sell \u00a0
Less than 1 year \u00a0
0.0880 \u00a0
0.1020 \u00a0
159.12 \u00a0
191.14 \u00a0
14.01 \u00a0
19.49 \u00a0
-0.1 \u00a0
1.6 \u00a0
More than 1 year \u00a0
0.0860 \u00a0
0.0988 \u00a0
109.3 \u00a0
14.75 \u00a0
9.4 \u00a0
1.46 \u00a0
-0.3 \u00a0
0.1 \u00a0
CAD \u00a0
Buy \u00a0
Less than 1 year \u00a0
0.6835 \u00a0
0.7137 \u00a0
15.78 \u00a0
24.00 \u00a0
10.79 \u00a0
17.13 \u00a0
0.0 \u00a0
-0.7 \u00a0
More than 1 year \u00a0
9.3 \u00a0
Sell \u00a0
Less than 1 year \u00a0
0.7277 \u00a0
0.7413 \u00a0
68.20 \u00a0
67.96 \u00a0
49.63 \u00a0
50.38 \u00a0
3.7 \u00a0
4.0 \u00a0
More than 1 year \u00a0
0.7500 \u00a0
0.0 \u00a0
45.30 \u00a0
0.0 \u00a0
33.98 \u00a0
0.0 \u00a0
3.4 \u00a0
Cash flow hedges reported as assets \u00a0
106.2 \u00a0
74.5 \u00a0
Cash flow hedges reported as liabilities \u00a0
87.8 \u00a0
76.4 \u00a0
1
Local currency/EUR \u00a0
2
For hedges in Local currency/SEK the SEK part has been tranferred to EUR, and a value of the SEK part has been calculated. \u00a0
Accounting policy \u00a0
NKT mainly apply hedge accounting for financial \u00a0
instruments related to currency, raw materials as well \u00a0
as interest rates for loans. The hedges normally hedge \u00a0
the risk one-to-one with the hedged item. Only gas-oil \u00a0
hedges for the hedging of the price risk of plastic differs \u00a0
from this principle, as Group Treasury here determine \u00a0
the ratio necessary to hedge the price risk for plastic. \u00a0
The Group designates the share of the fair value of a \u00a0
forward contract that is related to cash price for metals \u00a0
and spot price for FX hedges (i.e. excluding the forward \u00a0
elements) as the hedging instrument for all of its hedging \u00a0
relationships involving forward contracts. In accordance \u00a0
with the cost of hedging principle all fair values related \u00a0
to the forward element of the hedging contract is recog- \u00a0
nized in other comprehensive income and accumulated \u00a0
in the cost of hedging reserve. As the hedged items are \u00a0
transaction-related, the forward element is reclassified to \u00a0
the profit or loss when the hedged item affects profit or \u00a0
loss, and in the same line item as the hedged item. \u00a0
Fair value changes for cash flow hedges considered \u00a0
effective, are recognized in other comprehensive income \u00a0
in the hedging reserve. For each reporting date, effec- \u00a0
tiveness is considered and if the future cash flows are no \u00a0
longer expected to materialize, the accumulated value \u00a0
reported in the hedge reserve is reclassified to financial \u00a0
items in the income statement. In all other cases the \u00a0
accumulated value is reclassified to the income state- \u00a0
ment in the same line as the hedged item. \u00a0
Raw material price risks \u00a0
Raw material price risks primarily relate to metals and \u00a0
plastics used in the cable production. When changes in \u00a0
raw material prices cannot be transferred to customers, \u00a0
NKT uses financial instruments to hedge the price risks. \u00a0
NKT has, due to the larger order backlog, a high amount \u00a0
of raw material derivatives to cover the risks related to the \u00a0
large future purchases of especially copper. Exposures \u00a0
and hedging of current and expected future raw material \u00a0
risks are managed by the businesses based on adopted \u00a0
Group guidelines. Hedging of awarded projects are done \u00a0
at the time of award and adjusted according to changes \u00a0
in production plans. \u00a0
NKT hedges raw materials by purchasing hedging instru- \u00a0
ments on London Metal Exchange via financial counter- \u00a0
parties. Changes in the fair value of the hedging instru- \u00a0
ment should offset changes in the value of the underlying \u00a0
item because the reference prices are the same for the \u00a0
hedging instrument and the hedged item. NKT applies \u00a0
cost of hedging, whereby the forward points are recog- \u00a0
nized in other comprehensive income and transferred with \u00a0
the effective hedge when the hedged transaction occurs. \u00a0
For the hedge of plastic, ineffectiveness will arise as this \u00a0
is hedged via a gas-oil proxy hedge. Ineffectiveness \u00a0
because of differences in the change between gas-oil \u00a0
and plastic are considered insignificant. \u00a0
As at 31 December 2023, NKT A/S had current finan- \u00a0
cial hedging instruments relating to future raw material \u00a0
supplies with a net notional value of EUR 1,083.9m (EUR \u00a0
908.6m in 2022) and a net positive fair value of EUR \u00a0
77.4m (positive value of EUR 170.8m in 2022). \u00a0
Sensitivity to the development (+/- 10%) in raw material \u00a0
prices is presented in the table on page 89. The table to \u00a0
the right provides an overview of the cash flow hedges \u00a0
related to raw materials. \u00a0
Cash flow hedges related to \u00a0
Average rate \u00a0
Notional value \u00a0
Fair value \u00a0
raw materials \u00a0
EUR/ton \u00a0
EURm \u00a0
EURm \u00a0
31 Dec \u00a0
31 Dec \u00a0
31 Dec \u00a0
31 Dec \u00a0
31 Dec \u00a0
31 Dec \u00a0
Commodity \u00a0
2023 \u00a0
2022 \u00a0
2023 \u00a0
2022 \u00a0
2023 \u00a0
2022 \u00a0
Copper \u00a0
Buy \u00a0
Less than 1 year \u00a0
6.652 \u00a0
5.961 \u00a0
578.7 \u00a0
528.6 \u00a0
84.3 \u00a0
169.6 \u00a0
More than 1 year \u00a0
7.915 \u00a0
7.485 \u00a0
253.7 \u00a0
301.2 \u00a0
-13.0 \u00a0
15.6 \u00a0
Sell \u00a0
Less than 1 year \u00a0
7.112 \u00a0
6.421 \u00a0
-69.2 \u00a0
-119.4 \u00a0
5.5 \u00a0
-26.9 \u00a0
More than 1 year \u00a0
Lead \u00a0
Buy \u00a0
Less than 1 year \u00a0
1.903 \u00a0
1.843 \u00a0
25.9 \u00a0
20.0 \u00a0
-0.8 \u00a0
4.0 \u00a0
More than 1 year \u00a0
1.996 \u00a0
1.897 \u00a0
59.1 \u00a0
10.2 \u00a0
-3.0 \u00a0
1.7 \u00a0
Sell \u00a0
Less than 1 year \u00a0
1.804 \u00a0
1.885 \u00a0
-1.0 \u00a0
-3.2 \u00a0
0.0 \u00a0
-0.5 \u00a0
More than 1 year \u00a0
Aluminium \u00a0
Buy \u00a0
Less than 1 year \u00a0
2.051 \u00a0
2.349 \u00a0
9.3 \u00a0
13.3 \u00a0
0.4 \u00a0
-0.8 \u00a0
More than 1 year \u00a0
2.459 \u00a0
39.4 \u00a0
Sell \u00a0
Less than 1 year \u00a0
2.000 \u00a0
2.312 \u00a0
-12.4 \u00a0
-24.9 \u00a0
0.8 \u00a0
1.1 \u00a0
More than 1 year \u00a0
Gas-oil \u00a0
Buy \u00a0
Less than 1 year \u00a0
550 \u00a0
620 \u00a0
18.6 \u00a0
20.4 \u00a0
3.6 \u00a0
5.5 \u00a0
More than 1 year \u00a0
615 \u00a0
613 \u00a0
11.7 \u00a0
13.0 \u00a0
-0.2 \u00a0
1.5 \u00a0
Sell \u00a0
Less than 1 year \u00a0
669 \u00a0
634 \u00a0
-4.0 \u00a0
-2.0 \u00a0
0.0 \u00a0
-0.6 \u00a0
More than 1 year \u00a0
847 \u00a0
847 \u00a0
-1.0 \u00a0
-2.9 \u00a0
-0.3 \u00a0
0.6 \u00a0
Cash flow hedges reported as assets \u00a0
83.9 \u00a0
171.0 \u00a0
Cash flow hedges reported as liabilities \u00a0
6.5 \u00a0
0.2 \u00a0
Accounting policy \u00a0
Fair value changes of financial instruments used to \u00a0
hedge the change in fair value of an asset or liability is \u00a0
recorded in the income statement in the same line item \u00a0
as the changes in value of the hedged asset or liability \u00a0
is recognized in. \u00a0
Hedging of currency risk is not performed for net \u00a0
assets (equity) in foreign subsidiaries. Gains and losses \u00a0
relating to unhedged net assets in foreign subsidiaries \u00a0
are accounted for directly in other comprehensive \u00a0
income. \u00a0
Cash flow hedge reserve \u00a0
Foreign \u00a0
exchange \u00a0
Interest rate \u00a0
Commodity \u00a0
Amounts in EURm \u00a0
risk hedging \u00a0
risk hedging \u00a0
risk hedging \u00a0
Total \u00a0
Balance at 1 January 2022 \u00a0
-3.3 \u00a0
0.6 \u00a0
184.7 \u00a0
182.0 \u00a0
Gain/(loss) arising from changes in fair value of hedging instruments \u00a0
0.8 \u00a0
6.7 \u00a0
63.9 \u00a0
71.4 \u00a0
(Gain)/loss reclassified to profit or loss - hedged items have affected profit or loss \u00a0
3.0 \u00a0
0.0 \u00a0
-125.8 \u00a0
-122.8 \u00a0
Deferred tax \u00a0
-0.8 \u00a0
-1.5 \u00a0
17.3 \u00a0
15.0 \u00a0
Balance at 31 December 2022 \u00a0
-0.3 \u00a0
5.8 \u00a0
140.1 \u00a0
145.6 \u00a0
Gain/(loss) arising from changes in fair value of hedging instruments \u00a0
22.3 \u00a0
-2.3 \u00a0
30.6 \u00a0
50.6 \u00a0
(Gain)/loss reclassified to profit or loss - hedged items have affected profit or loss \u00a0
-2.4 \u00a0
0.0 \u00a0
-135.0 \u00a0
-137.4 \u00a0
Deferred tax \u00a0
1.4 \u00a0
0.6 \u00a0
26.8 \u00a0
28.8 \u00a0
Balance at 31 December 2023 \u00a0
21.0 \u00a0
4.1 \u00a0
62.5 \u00a0
87.6 \u00a0
Cost of hedging reserve \u00a0
Foreign \u00a0
exchange \u00a0
Interest rate \u00a0
Commodity \u00a0
Amounts in EURm \u00a0
risk hedging \u00a0
risk hedging \u00a0
risk hedging \u00a0
Total \u00a0
Balance at 1 January 2022 \u00a0
-1.0 \u00a0
0.0 \u00a0
-15.2 \u00a0
-16.2 \u00a0
Loss arising from changes in fair value of hedging instruments \u00a0
1.3 \u00a0
0.0 \u00a0
0.4 \u00a0
1.7 \u00a0
Loss reclassified to profit or loss - hedged items have affected profit or loss \u00a0
0.0 \u00a0
0.0 \u00a0
2.9 \u00a0
2.9 \u00a0
Deferred tax \u00a0
-0.3 \u00a0
0.0 \u00a0
-0.8 \u00a0
-1.1 \u00a0
Balance at 31 December 2022 \u00a0
0.0 \u00a0
0.0 \u00a0
-12.7 \u00a0
-12.7 \u00a0
Gain/(loss) arising from changes in fair value of hedging instruments \u00a0
-10.0 \u00a0
0.0 \u00a0
34.8 \u00a0
24.8 \u00a0
(Gain)/loss reclassified to profit or loss - hedged items have affected profit or loss \u00a0
1.1 \u00a0
0.0 \u00a0
-3.8 \u00a0
-2.7 \u00a0
Deferred tax \u00a0
-0.6 \u00a0
0.0 \u00a0
-8.1 \u00a0
-8.7 \u00a0
Balance at 31 December 2023 \u00a0
-9.5 \u00a0
0.0 \u00a0
10.2 \u00a0
0.7 \u00a0
Of the fair values recorded in other comprehensive income, EUR 5.9m is expected to be recorded in Revenue (EUR 0.6m in 2022) and EUR 82.4m (EUR \u00a0
132.3m in 2022) is expected to be recorded in Cost of raw materials, consumables and goods for resale. \u00a0
Categories of financial instruments \u00a0
Amounts in EURm \u00a0
2023 \u00a0
2022 \u00a0
Financial assets \u00a0
Measured at amortized costs: \u00a0
Receivables \u00a0
339.8 \u00a0
273.2 \u00a0
Contract assets \u00a0
106.9 \u00a0
98.2 \u00a0
Interest bearing receivables \u00a0
0.2 \u00a0
0.2 \u00a0
Cash at bank and in hand \u00a0
887.9 \u00a0
258.5 \u00a0
Measured at fair value \u00a0
through profit /loss: \u00a0
Other investments and \u00a0
receivables \u00a0
0.8 \u00a0
0.8 \u00a0
Derivative financial instruments \u00a0
185.4 \u00a0
249.3 \u00a0
Financial liabilities \u00a0
Measured at amortized costs: \u00a0
Trade payables and other liabilities \u00a0
509.0 \u00a0
502.1 \u00a0
Interest-bearing loans and borrowings \u00a0
207.4 \u00a0
195.8 \u00a0
Measured at fair value \u00a0
through profit /loss: \u00a0
Derivative financial instruments \u00a0
94.3 \u00a0
76.6 \u00a0
In the table above, financial instruments are presented in the categories \u00a0
which determine, how they will be measured in the financial statements. \u00a0
Measuring fair value \u00a0
Financial instruments measured at fair value in the balance sheet are desig- \u00a0
nated as belonging to one of the following three categories (the \u2018fair value \u00a0
hierarchy\u2019): \u00a0
Level 1:
Listed prices (unadjusted) in active markets for identical assets \u00a0
and liabilities \u00a0
Level 2:
Input, other than listed prices on Level 1, which is observable for the \u00a0
asset or liability either directly (as prices) or indirectly (derived from \u00a0
prices) \u00a0
Level 3:
Input for the asset or liability which is not based on observable \u00a0
market data (non-observable input) \u00a0
Financial instruments measured at fair value consist of derivative financial \u00a0
instruments. The fair value at 31 December 2023 and 2022 of NKT Group\u2019s \u00a0
forward transactions are measured in accordance with Level 2 as the fair \u00a0
value is calculated based on official exchange rates and forward rates at the \u00a0
balance sheet date. \u00a0
The fair value of commodity forwards is measured as the present value of \u00a0
future cash flows based on forward rates and official exchange rates at the \u00a0
balance sheet date. The fair value of foreign currency forwards is measured \u00a0
as the present value of future cash flows based on the forward exchange \u00a0
rates at the balance sheet date. \u00a0
No financial instruments were moved from one level to another in the year (no \u00a0
move in 2022 either). \u00a0
Liquidity risks \u00a0
It is NKT Group\u2019s policy to maintain adequate liquidity resources to imple- \u00a0
ment planned operating activities and to be able to operate effectively in the \u00a0
event of unforeseen fluctuations in liquidity. NKT Group\u2019s liquidity resources \u00a0
consist of cash, cash equivalents and undrawn committed credit facilities. \u00a0
The revolving credit facility of EUR 200m matures in November 2026. The \u00a0
mortgage loan portfolio matures in 2032, 2033 and 2037. \u00a0
NKT has financial covenants and change of control clause on certain finan- \u00a0
cial agreements. The latter comes into effect if a shareholder or shareholder \u00a0
group gains control over NKT A/S or if NKT A/S is no longer listed at Nasdaq \u00a0
Copenhagen. \u00a0
It is Group Management\u2019s opinion, that the financial headroom is sufficient to \u00a0
manage the level of activity expected in 2024 for the NKT Group. \u00a0
Liquidity resources \u00a0
Amounts in EURm \u00a0
2023 \u00a0
2022 \u00a0
Committed facilities (>3 years) \u00a0
0.0 \u00a0
0.0 \u00a0
Committed facilities (1-3 years) \u00a0
200.0 \u00a0
200.0 \u00a0
Committed facilities (<1 year) \u00a0
0.0 \u00a0
0.0 \u00a0
Total commited facilities \u00a0
200.0 \u00a0
200.0 \u00a0
Uncommitted facilities \u00a0
0.0 \u00a0
0.0 \u00a0
Total facilities \u00a0
200.0 \u00a0
200.0 \u00a0
Cash \u00a0
887.9 \u00a0
258.5 \u00a0
Utilized facilities \u00a0
0.0 \u00a0
-9.0 \u00a0
Cash classified as assets held for sale \u00a0
2.4 \u00a0
3.7 \u00a0
Liquidity recources \u00a0
1,090.3 \u00a0
453.2 \u00a0
Credit risks \u00a0
Credit risk arises from the possibility that transactional counterparties may \u00a0
default on their obligations causing financial losses for the Group. \u00a0
NKT\u2019s credit risks relate partly to receivables, contract assets and cash at \u00a0
bank and in hand, and partly to derivative financial instruments with positive \u00a0
fair value. The maximum credit risk attached to financial assets correspond to \u00a0
the values recognized in the balance sheet. \u00a0
To manage credit risk regarding financial counterparties, NKT only enters into \u00a0
derivative financial contracts and money market deposits with financial coun- \u00a0
terparties possessing a long-term credit rating of \u2018A-\u2018 from at least one out of \u00a0
the following three selected rating agencies: Standard and Poor's, Moody's \u00a0
or Fitch. \u00a0
NKT has no material risks relating to a single customer or partner. NKT\u2019s \u00a0
policy for acceptance of credit risks entails ongoing monitoring and credit \u00a0
rating of important customers and other partners. NKT obtains prepayments \u00a0
or bank guarantees from customers, when considered needed. Thus, insur- \u00a0
ance cover and similar measures to hedge receivables are rarely applied as \u00a0
NKT historically has had only few material losses. \u00a0
",
"dimensions": {
"concept": "ifrs-full:DisclosureOfFinancialRiskManagementExplanatory",
"language": "en",
"entity": "scheme:529900197LKWCEQ0NL18",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"fact2273": {
"value": "In July 2023 NKT A/S completed a rights issue resulting in 10,744,009 \u00a0
new shares. As a result of the issue the Company's share capital as of 31. \u00a0
December 2023 amounts to DKK 1,074,400,900 divided into 53,720,045 \u00a0
shares with a nominal value of DKK 20 each. As per 31. December \u00a0
2022 and 2021 the share capital comprised 42,976,036 shares with \u00a0
a nominal value of DKK 20 per share. During 2023, 150,000 treasury \u00a0
shares were purchased (75,000 during 2022) of which 87,113 are held at \u00a0
31 December 2023 (16,055 at 31 December 2022). \u00a0
Accounting policy \u00a0
Dividend is recognized as a liability at the date of adoption at the Annual \u00a0
General Meeting (declaration date). Proposed dividend payments for the \u00a0
year are disclosed as a separate item under equity. Interim dividend is \u00a0
recognized as a liability at the date when the decision to pay such dividend \u00a0
is made. \u00a0
Acquisition costs, consideration received, and dividends relating to treasury \u00a0
shares, are recognized directly in retained comprehensive income in equity. \u00a0
",
"dimensions": {
"concept": "ifrs-full:DisclosureOfIssuedCapitalExplanatory",
"language": "en",
"entity": "scheme:529900197LKWCEQ0NL18",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"fact2274": {
"value": "In July 2023 NKT A/S completed a rights issue resulting in 10,744,009 \u00a0
new shares. As a result of the issue the Company's share capital as of 31. \u00a0
December 2023 amounts to DKK 1,074,400,900 divided into 53,720,045 \u00a0
shares with a nominal value of DKK 20 each. As per 31. December \u00a0
2022 and 2021 the share capital comprised 42,976,036 shares with \u00a0
a nominal value of DKK 20 per share. During 2023, 150,000 treasury \u00a0
shares were purchased (75,000 during 2022) of which 87,113 are held at \u00a0
31 December 2023 (16,055 at 31 December 2022). \u00a0
",
"dimensions": {
"concept": "ifrs-full:DisclosureOfTreasurySharesExplanatory",
"language": "en",
"entity": "scheme:529900197LKWCEQ0NL18",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"fact2283": {
"value": "5.2 Earnings
per share \u00a0
Amounts in EURm \u00a0
2023 \u00a0
2022 \u00a0
Profit attributable to equity holders \u00a0
113.4 \u00a0
53.8 \u00a0
Weighted average number of shares \u00a0
50,102,581 \u00a0
46,485,118 \u00a0
Dilutive effect of Performance share \u00a0
programs \u00a0
94,568 \u00a0
118,219 \u00a0
Diluted weighted average number of shares \u00a0
50,197,149 \u00a0
46,603,337 \u00a0
Basic earnings - continuing operations, \u00a0
EUR, per share (EPS) \u00a0
2.2 \u00a0
1.0 \u00a0
Diluted earnings - continuing operations, \u00a0
EUR, per share (EPS-D) \u00a0
2.1 \u00a0
1.0 \u00a0
Basic earnings per share, EUR \u00a0
2.3 \u00a0
1.2 \u00a0
Diluted earnings per share, EUR \u00a0
2.3 \u00a0
1.1 \u00a0
Due to the rights issue in 2023 at a price below market price the Weighted \u00a0
average number of shares and the Diluted weighted average number of \u00a0
shares for 2022 have been restated using the calculated bonus ratio. \u00a0
As a consequence the earnings per share numbers for 2022 EPS, continu- \u00a0
ing operations, EUR and Diluted EPS, continuing operation, EUR have been \u00a0
restated and both have been reduced by 0.1 EUR. Earnings per share for \u00a0
earlier years have not been restated due to immaterial impact. \u00a0
",
"dimensions": {
"concept": "ifrs-full:DisclosureOfEarningsPerShareExplanatory",
"language": "en",
"entity": "scheme:529900197LKWCEQ0NL18",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"fact2276": {
"value": "Accounting policy \u00a0
Dividend is recognized as a liability at the date of adoption at the Annual \u00a0
General Meeting (declaration date). Proposed dividend payments for the \u00a0
year are disclosed as a separate item under equity. Interim dividend is \u00a0
recognized as a liability at the date when the decision to pay such dividend \u00a0
is made. \u00a0
",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForDividendsExplanatory",
"language": "en",
"entity": "scheme:529900197LKWCEQ0NL18",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"fact2277": {
"value": "Accounting policy \u00a0
Dividend is recognized as a liability at the date of adoption at the Annual \u00a0
General Meeting (declaration date). Proposed dividend payments for the \u00a0
year are disclosed as a separate item under equity. Interim dividend is \u00a0
recognized as a liability at the date when the decision to pay such dividend \u00a0
is made. \u00a0
",
"dimensions": {
"concept": "ifrs-full:DisclosureOfDividendsExplanatory",
"language": "en",
"entity": "scheme:529900197LKWCEQ0NL18",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"fact2284": {
"value": "5.3 Hybrid
capital \u00a0
Hybrid capital comprise issued bonds from September 2022 of EUR 150m. \u00a0
In 2022, the hybrid capital from September 2018 was called and settled \u00a0
and a new hybrid bond was issued. \u00a0
The issued hybrid capital is accounted for as a hybrid capital reserve in \u00a0
equity. The classification is based on the special characteristics of the \u00a0
hybrid bond, where the bondholders are subordinate to other creditors, \u00a0
and NKT A/S may defer and ultimately decide not to pay the coupon. Any \u00a0
deferred coupons outstanding in 3022 will be cancelled. However, deferred \u00a0
coupon payments become payable if NKT A/S decides to pay dividends \u00a0
to shareholders. Coupon payments are recognized in equity. For further \u00a0
details on the hybrid capital, please see table below. \u00a0
As the principal of the securities ultimately falls due in 3022, its discounted \u00a0
fair value is zero due to the terms of the securities. Therefore, a liability of \u00a0
zero has been recognized in the balance sheet, and the full amount of the \u00a0
proceeds have been recognized as equity. Coupon payments are recog- \u00a0
nized in the statement of cash flows in the same way as dividend payments \u00a0
within financing activities. \u00a0
Hybrid bonds \u00a0
2023 \u00a0
2022 \u00a0
Nominal value of hybrid capital \u00a0
EUR 150.0m \u00a0
EUR 150.0m \u00a0
Classification in financial statement \u00a0
Equity \u00a0
Equity \u00a0
Issued \u00a0
Sept. 2022 \u00a0
Sept. 2022 \u00a0
Maturing \u00a0
July 3022 \u00a0
July 3022 \u00a0
First call date \u00a0
1 July 2026 \u00a0
1 July 2026 \u00a0
Interests: \u00a0
For the first four years \u00a0
7.240% \u00a0
7.240% \u00a0
For the following years \u00a0
Resets to the \u00a0
Resets to the \u00a0
4-year EUR swap
4-year EUR swap \u00a0
rate prevailing \u00a0
rate prevailing \u00a0
at that time plus \u00a0
at that time plus \u00a0
5% \u00a0
5% \u00a0
In connection with the issue of the new hybrid capital in 2022, holders of \u00a0
the previous hybrid capital had the option to roll-over their investment in the \u00a0
new hybrid capital without any cash transactions. Therefore, the cash flow \u00a0
from the issue and repurchase of hybrid capitals were less than the nominal \u00a0
amount of the hybrids. Below is a specification of the cash flow related to \u00a0
the hybrid capital transactions in 2022. \u00a0
Cash flow from issuance and repurchase \u00a0
of hybrid capital \u00a0
2022 \u00a0
Issue of new hybrid capital \u00a0
150.0 \u00a0
Costs associated with new hybrid capital \u00a0
-1.6 \u00a0
Transferring of former hybrid holders to new hybrid capital \u00a0
-86.7 \u00a0
Proceeds from issurance of hybrid capital \u00a0
61.7 \u00a0
Repayment of previous hybrid capital \u00a0
-150.0 \u00a0
Transferring of former hybrid holders to new hybrid capital \u00a0
86.7 \u00a0
Repurchase of hybrid capital \u00a0
-63.3 \u00a0
Accounting policy \u00a0
Hybrid capital is treated in accordance with the rules on compound finan- \u00a0
cial instruments based on the characteristics of the bonds. The notional \u00a0
amount, which constitutes a liability, is recognized at present value, and \u00a0
equity has been increased by the difference between the net proceeds \u00a0
received and the present value of the discounted liability. The part of the \u00a0
hybrid capital that is accounted for as a liability is measured at amortized \u00a0
cost. The carrying amount is zero on initial recognition and due to the \u00a0
1,000-year term of the hybrid capital, amortization charges will only have an \u00a0
impact on the income statement for the years at the end of the 1,000-year \u00a0
term of the hybrid capital. \u00a0
Coupon payments are accounted for as dividends and are recognized \u00a0
directly in equity when the obligation to pay arises. \u00a0
The obligation to pay coupon payments is at the discretion of Group \u00a0
Management and deferred coupon lapses upon maturity of the hybrid \u00a0
capital. Coupon payments are recognized in the statement of cash flows in \u00a0
the same way as dividend payments within financing activities. \u00a0
On redemption of the hybrid capital, the payment will be distributed \u00a0
between liability and equity, applying the same principles as used when \u00a0
the hybrid capital was issued. The difference between the payment on \u00a0
redemption and the net proceeds received on issue is recognized directly in \u00a0
equity as the debt portion of the existing hybrid issues will be nil during the \u00a0
first part of the life of the hybrid capital. \u00a0
On the date on which the Board of Directors decides to exercise an option \u00a0
to redeem the hybrid capital, the part of the hybrid capital that will be \u00a0
redeemed will be reclassified to loans and borrowings. The reclassifica- \u00a0
tion will be made at the market value of the hybrid capital at the date the \u00a0
decision is made. Following the reclassification, coupon payments and \u00a0
exchange rate adjustments will be recognized in the income statement as \u00a0
financial income or expenses. \u00a0
",
"dimensions": {
"concept": "nkt:DisclosureOfHybridCapital",
"language": "en",
"entity": "scheme:529900197LKWCEQ0NL18",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"fact2290": {
"value": "Accounting policy \u00a0
Hybrid capital is treated in accordance with the rules on compound finan- \u00a0
cial instruments based on the characteristics of the bonds. The notional \u00a0
amount, which constitutes a liability, is recognized at present value, and \u00a0
equity has been increased by the difference between the net proceeds \u00a0
received and the present value of the discounted liability. The part of the \u00a0
hybrid capital that is accounted for as a liability is measured at amortized \u00a0
cost. The carrying amount is zero on initial recognition and due to the \u00a0
1,000-year term of the hybrid capital, amortization charges will only have an \u00a0
impact on the income statement for the years at the end of the 1,000-year \u00a0
term of the hybrid capital. \u00a0
Coupon payments are accounted for as dividends and are recognized \u00a0
directly in equity when the obligation to pay arises. \u00a0
The obligation to pay coupon payments is at the discretion of Group \u00a0
Management and deferred coupon lapses upon maturity of the hybrid \u00a0
capital. Coupon payments are recognized in the statement of cash flows in \u00a0
the same way as dividend payments within financing activities. \u00a0
On redemption of the hybrid capital, the payment will be distributed \u00a0
between liability and equity, applying the same principles as used when \u00a0
the hybrid capital was issued. The difference between the payment on \u00a0
redemption and the net proceeds received on issue is recognized directly in \u00a0
equity as the debt portion of the existing hybrid issues will be nil during the \u00a0
first part of the life of the hybrid capital. \u00a0
On the date on which the Board of Directors decides to exercise an option \u00a0
to redeem the hybrid capital, the part of the hybrid capital that will be \u00a0
redeemed will be reclassified to loans and borrowings. The reclassifica- \u00a0
tion will be made at the market value of the hybrid capital at the date the \u00a0
decision is made. Following the reclassification, coupon payments and \u00a0
exchange rate adjustments will be recognized in the income statement as \u00a0
financial income or expenses. \u00a0
",
"dimensions": {
"concept": "nkt:DescriptionOfAccountingPolicyForHybridCapital",
"language": "en",
"entity": "scheme:529900197LKWCEQ0NL18",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"fact2292": {
"value": "5.4 Net
interest-bearing debt \u00a0
Net interest-bearing debt \u00a0
Net interest-bearing debt including liabilities associated with assets held for \u00a0
sale end-2023 was EUR -670.6m (EUR -54.8m end-2022), corresponding \u00a0
to a decrease of EUR 615.8m. The decrease was driven by milestone \u00a0
payments received in Solutions, issues of new shares and improved result. \u00a0
In addition to the hybrid security mentioned in note 5.3 and Revolving \u00a0
Credit Facility (RCF) mentioned in note 5.6, NKT Group has mortgage debt \u00a0
of EUR 137.6m (EUR 139.8m in 2022). \u00a0
Net interest-bearing debt includes debt related to capitalized lease \u00a0
contracts of EUR 63.9m (EUR 37.6m in 2022). Of this amount, EUR 58.2m \u00a0
was recognized as non-current (EUR 32.1m in 2022), and EUR 5.7m as \u00a0
current debt (EUR 5.5m in 2022). In 2023, payments related to capitalized \u00a0
lease contracts amounted to EUR 7.4m (EUR 7.1m in 2022), of which EUR \u00a0
5.7m was installments on the debt (EUR 5.3m in 2022) and the remaining \u00a0
amount, EUR 1.7m (EUR 1.8m in 2022), was interest expenses recognized \u00a0
in financial items in the income statement. \u00a0
Amounts in EURm \u00a0
2023 \u00a0
2022 \u00a0
Net interest-bearing debt comprise: \u00a0
Non-current loans \u00a0
195.5 \u00a0
180.9 \u00a0
Current loans \u00a0
11.9 \u00a0
14.9 \u00a0
Interest-bearing debt, gross \u00a0
207.4 \u00a0
195.8 \u00a0
Interest-bearing receivables \u00a0
0.2 \u00a0
0.2 \u00a0
Cash at bank and in hand \u00a0
887.9 \u00a0
258.5 \u00a0
Net interest-bearing debt \u00a0
-680.7 \u00a0
-62.9 \u00a0
Net interest-bearing debt presented as \u00a0
assets held for sale \u00a0
10.1 \u00a0
8.1 \u00a0
Net interest-bearing debt including \u00a0
assets held for sale \u00a0
-670.6 \u00a0
-54.8 \u00a0
Changes in current loans, non-current loans and lease liabilities \u00a0
Liabilities \u00a0
Effect of \u00a0
Changes \u00a0
Changes \u00a0
associated \u00a0
changes in \u00a0
from in
debt and
Acquisitions with
assets \u00a0
exchange \u00a0
31 \u00a0
Amounts in EURm \u00a0
1 January \u00a0
cash flow
leases of
business held
for sale \u00a0
rates \u00a0
December \u00a0
Current and non-current loans1, 2023 \u00a0
195.8 \u00a0
-7.2 \u00a0
18.8 \u00a0
0.0 \u00a0
0.0 \u00a0
0.0 \u00a0
207.4 \u00a0
Current and non-current loans1, 2022 \u00a0
213.9 \u00a0
-24.5 \u00a0
6.4 \u00a0
5.5 \u00a0
-8.6 \u00a0
3.1 \u00a0
195.8 \u00a0
1
Current and non-current loans include leasing liabilities \u00a0
Contractual maturity of financial liabilities \u00a0
Less than \u00a0
More than \u00a0
Amounts in EURm \u00a0
1 year \u00a0
1-3 years \u00a0
3-5 years \u00a0
5 years \u00a0
Total \u00a0
2023 \u00a0
Interest-bearing loans and borrowings1 \u00a0
11.9 \u00a0
23.1 \u00a0
25.1 \u00a0
147.3 \u00a0
207.4 \u00a0
Hereof leasing liabilities \u00a0
5.7 \u00a0
10.1 \u00a0
7.3 \u00a0
40.8 \u00a0
63.9 \u00a0
Trade payables \u00a0
364.4 \u00a0
364.4 \u00a0
Prepayments \u00a0
9.9 \u00a0
9.9 \u00a0
Derivative financial liabilities \u00a0
94.3 \u00a0
94.3 \u00a0
Other payables \u00a0
144.6 \u00a0
144.6 \u00a0
Total \u00a0
625.1 \u00a0
23.1 \u00a0
25.1 \u00a0
147.3 \u00a0
820.6 \u00a0
2022 \u00a0
Interest-bearing loans and borrowings1 \u00a0
14.9 \u00a0
35.6 \u00a0
24.1 \u00a0
121.2 \u00a0
195.8 \u00a0
Hereof leasing liabilities \u00a0
5.5 \u00a0
8.0 \u00a0
6.0 \u00a0
18.1 \u00a0
37.6 \u00a0
Trade payables \u00a0
351.0 \u00a0
351.0 \u00a0
Prepayments \u00a0
18.4 \u00a0
18.4 \u00a0
Derivative financial liabilities \u00a0
76.6 \u00a0
76.6 \u00a0
Other payables \u00a0
147.1 \u00a0
147.1 \u00a0
Total \u00a0
608.0 \u00a0
35.6 \u00a0
24.1 \u00a0
121.2 \u00a0
788.9 \u00a0
1
Interest-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
recognized at fair value and the discount element is considered insignificant \u00a0
because of short maturity. \u00a0
Interest-bearing loans and borrowings are consequently recognized in the \u00a0
balance sheet at the amounts stated in the table. Interest-bearing loans \u00a0
and borrowings are predominantly based on floating interest rates and are \u00a0
measured at amortized cost. The carrying amount therefore in all material \u00a0
aspects corresponds to fair value and nominal value. \u00a0
Accounting policy \u00a0
Interest-bearing loans and borrowings are recognized at the amount of \u00a0
proceeds received at the date of borrowing, net of transaction costs paid. \u00a0
In subsequent periods the financial liabilities are measured at amortized \u00a0
cost using \u2018the effective interest method\u2019, and the difference between \u00a0
the proceeds and the nominal value is therefore being recognized in the \u00a0
income statement under financial expenses over the term of the loan. \u00a0
Interest-bearing loans and borrowings also include the capitalized residual \u00a0
lease obligations on finance leases measured at amortized cost. \u00a0
",
"dimensions": {
"concept": "ifrs-full:DisclosureOfBorrowingsExplanatory",
"language": "en",
"entity": "scheme:529900197LKWCEQ0NL18",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"fact2293": {
"value": "5.4 Net
interest-bearing debt \u00a0
Net interest-bearing debt \u00a0
Net interest-bearing debt including liabilities associated with assets held for \u00a0
sale end-2023 was EUR -670.6m (EUR -54.8m end-2022), corresponding \u00a0
to a decrease of EUR 615.8m. The decrease was driven by milestone \u00a0
payments received in Solutions, issues of new shares and improved result. \u00a0
In addition to the hybrid security mentioned in note 5.3 and Revolving \u00a0
Credit Facility (RCF) mentioned in note 5.6, NKT Group has mortgage debt \u00a0
of EUR 137.6m (EUR 139.8m in 2022). \u00a0
Net interest-bearing debt includes debt related to capitalized lease \u00a0
contracts of EUR 63.9m (EUR 37.6m in 2022). Of this amount, EUR 58.2m \u00a0
was recognized as non-current (EUR 32.1m in 2022), and EUR 5.7m as \u00a0
current debt (EUR 5.5m in 2022). In 2023, payments related to capitalized \u00a0
lease contracts amounted to EUR 7.4m (EUR 7.1m in 2022), of which EUR \u00a0
5.7m was installments on the debt (EUR 5.3m in 2022) and the remaining \u00a0
amount, EUR 1.7m (EUR 1.8m in 2022), was interest expenses recognized \u00a0
in financial items in the income statement. \u00a0
Amounts in EURm \u00a0
2023 \u00a0
2022 \u00a0
Net interest-bearing debt comprise: \u00a0
Non-current loans \u00a0
195.5 \u00a0
180.9 \u00a0
Current loans \u00a0
11.9 \u00a0
14.9 \u00a0
Interest-bearing debt, gross \u00a0
207.4 \u00a0
195.8 \u00a0
Interest-bearing receivables \u00a0
0.2 \u00a0
0.2 \u00a0
Cash at bank and in hand \u00a0
887.9 \u00a0
258.5 \u00a0
Net interest-bearing debt \u00a0
-680.7 \u00a0
-62.9 \u00a0
Net interest-bearing debt presented as \u00a0
assets held for sale \u00a0
10.1 \u00a0
8.1 \u00a0
Net interest-bearing debt including \u00a0
assets held for sale \u00a0
-670.6 \u00a0
-54.8 \u00a0
Changes in current loans, non-current loans and lease liabilities \u00a0
Liabilities \u00a0
Effect of \u00a0
Changes \u00a0
Changes \u00a0
associated \u00a0
changes in \u00a0
from in
debt and
Acquisitions with
assets \u00a0
exchange \u00a0
31 \u00a0
Amounts in EURm \u00a0
1 January \u00a0
cash flow
leases of
business held
for sale \u00a0
rates \u00a0
December \u00a0
Current and non-current loans1, 2023 \u00a0
195.8 \u00a0
-7.2 \u00a0
18.8 \u00a0
0.0 \u00a0
0.0 \u00a0
0.0 \u00a0
207.4 \u00a0
Current and non-current loans1, 2022 \u00a0
213.9 \u00a0
-24.5 \u00a0
6.4 \u00a0
5.5 \u00a0
-8.6 \u00a0
3.1 \u00a0
195.8 \u00a0
1
Current and non-current loans include leasing liabilities \u00a0
Contractual maturity of financial liabilities \u00a0
Less than \u00a0
More than \u00a0
Amounts in EURm \u00a0
1 year \u00a0
1-3 years \u00a0
3-5 years \u00a0
5 years \u00a0
Total \u00a0
2023 \u00a0
Interest-bearing loans and borrowings1 \u00a0
11.9 \u00a0
23.1 \u00a0
25.1 \u00a0
147.3 \u00a0
207.4 \u00a0
Hereof leasing liabilities \u00a0
5.7 \u00a0
10.1 \u00a0
7.3 \u00a0
40.8 \u00a0
63.9 \u00a0
Trade payables \u00a0
364.4 \u00a0
364.4 \u00a0
Prepayments \u00a0
9.9 \u00a0
9.9 \u00a0
Derivative financial liabilities \u00a0
94.3 \u00a0
94.3 \u00a0
Other payables \u00a0
144.6 \u00a0
144.6 \u00a0
Total \u00a0
625.1 \u00a0
23.1 \u00a0
25.1 \u00a0
147.3 \u00a0
820.6 \u00a0
2022 \u00a0
Interest-bearing loans and borrowings1 \u00a0
14.9 \u00a0
35.6 \u00a0
24.1 \u00a0
121.2 \u00a0
195.8 \u00a0
Hereof leasing liabilities \u00a0
5.5 \u00a0
8.0 \u00a0
6.0 \u00a0
18.1 \u00a0
37.6 \u00a0
Trade payables \u00a0
351.0 \u00a0
351.0 \u00a0
Prepayments \u00a0
18.4 \u00a0
18.4 \u00a0
Derivative financial liabilities \u00a0
76.6 \u00a0
76.6 \u00a0
Other payables \u00a0
147.1 \u00a0
147.1 \u00a0
Total \u00a0
608.0 \u00a0
35.6 \u00a0
24.1 \u00a0
121.2 \u00a0
788.9 \u00a0
1
Interest-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
recognized at fair value and the discount element is considered insignificant \u00a0
because of short maturity. \u00a0
Interest-bearing loans and borrowings are consequently recognized in the \u00a0
balance sheet at the amounts stated in the table. Interest-bearing loans \u00a0
and borrowings are predominantly based on floating interest rates and are \u00a0
measured at amortized cost. The carrying amount therefore in all material \u00a0
aspects corresponds to fair value and nominal value. \u00a0
Accounting policy \u00a0
Interest-bearing loans and borrowings are recognized at the amount of \u00a0
proceeds received at the date of borrowing, net of transaction costs paid. \u00a0
In subsequent periods the financial liabilities are measured at amortized \u00a0
cost using \u2018the effective interest method\u2019, and the difference between \u00a0
the proceeds and the nominal value is therefore being recognized in the \u00a0
income statement under financial expenses over the term of the loan. \u00a0
Interest-bearing loans and borrowings also include the capitalized residual \u00a0
lease obligations on finance leases measured at amortized cost. \u00a0
Liquidity risks \u00a0
It is NKT Group\u2019s policy to maintain adequate liquidity resources to imple- \u00a0
ment planned operating activities and to be able to operate effectively in the \u00a0
event of unforeseen fluctuations in liquidity. NKT Group\u2019s liquidity resources \u00a0
consist of cash, cash equivalents and undrawn committed credit facilities. \u00a0
The revolving credit facility of EUR 200m matures in November 2026. The \u00a0
mortgage loan portfolio matures in 2032, 2033 and 2037. \u00a0
NKT has financial covenants and change of control clause on certain finan- \u00a0
cial agreements. The latter comes into effect if a shareholder or shareholder \u00a0
group gains control over NKT A/S or if NKT A/S is no longer listed at Nasdaq \u00a0
Copenhagen. \u00a0
It is Group Management\u2019s opinion, that the financial headroom is sufficient to \u00a0
manage the level of activity expected in 2024 for the NKT Group. \u00a0
Liquidity resources \u00a0
Amounts in EURm \u00a0
2023 \u00a0
2022 \u00a0
Committed facilities (>3 years) \u00a0
0.0 \u00a0
0.0 \u00a0
Committed facilities (1-3 years) \u00a0
200.0 \u00a0
200.0 \u00a0
Committed facilities (<1 year) \u00a0
0.0 \u00a0
0.0 \u00a0
Total commited facilities \u00a0
200.0 \u00a0
200.0 \u00a0
Uncommitted facilities \u00a0
0.0 \u00a0
0.0 \u00a0
Total facilities \u00a0
200.0 \u00a0
200.0 \u00a0
Cash \u00a0
887.9 \u00a0
258.5 \u00a0
Utilized facilities \u00a0
0.0 \u00a0
-9.0 \u00a0
Cash classified as assets held for sale \u00a0
2.4 \u00a0
3.7 \u00a0
Liquidity recources \u00a0
1,090.3 \u00a0
453.2 \u00a0
",
"dimensions": {
"concept": "ifrs-full:DisclosureOfLiquidityRiskExplanatory",
"language": "en",
"entity": "scheme:529900197LKWCEQ0NL18",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"fact2304": {
"value": "5.5 Financial
items \u00a0
Financial income \u00a0
Financial expenses \u00a0
Net financial items \u00a0
Amounts in EURm \u00a0
2023 \u00a0
2022 \u00a0
2023 \u00a0
2022 \u00a0
2023 2022 \u00a0
Interest etc. relating to financial assets/liabilities \u00a0
measured at amortized cost \u00a0
11.3 \u00a0
2.2 \u00a0
-7.8 \u00a0
-6.4 \u00a0
3.5 \u00a0
-4.2 \u00a0
Interest expenses on leases \u00a0
0.0 \u00a0
0.0 \u00a0
-1.7 \u00a0
-1.8 \u00a0
-1.7 \u00a0
-1.8 \u00a0
Total interest \u00a0
11.3 \u00a0
2.2 \u00a0
-9.5 \u00a0
-8.2 \u00a0
1.8 \u00a0
-6.0 \u00a0
Foreign exchange gains/losses \u00a0
91.5 \u00a0
50.4 \u00a0
-93.1 \u00a0
-53.1 \u00a0
-1.6 \u00a0
-2.7 \u00a0
Gain/loss on derivative financial instruments \u00a0
6.7 \u00a0
19.7 \u00a0
-22.5 \u00a0
-1.9 \u00a0
-15.8 \u00a0
17.8 \u00a0
Total currency gain/losses \u00a0
98.2 \u00a0
70.1 \u00a0
-115.6 \u00a0
-55.0 \u00a0
-17.4 \u00a0
15.1 \u00a0
Total financial items \u00a0
109.5 \u00a0
72.3 \u00a0
-125.1 \u00a0
-63.2 \u00a0
-15.6 \u00a0
9.1 \u00a0
Financial income and expenses comprise interest, dividends, gain/loss on \u00a0
securities, receivables and transactions denominated in foreign currencies, \u00a0
amortization of financial assets and liabilities, allowances under the Danish \u00a0
tax prepayment scheme, as well as changes in the fair value of derivative \u00a0
financial instruments not designated as hedges. \u00a0
Accounting policy \u00a0
Changes in market values of currency and interest rate derivatives not \u00a0
entered into with the purpose of hedging an exposure, are recognized in \u00a0
financial income or expenses respectively. \u00a0
",
"dimensions": {
"concept": "ifrs-full:DisclosureOfFinanceCostExplanatory",
"language": "en",
"entity": "scheme:529900197LKWCEQ0NL18",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"fact2305": {
"value": "5.5 Financial
items \u00a0
Financial income \u00a0
Financial expenses \u00a0
Net financial items \u00a0
Amounts in EURm \u00a0
2023 \u00a0
2022 \u00a0
2023 \u00a0
2022 \u00a0
2023 2022 \u00a0
Interest etc. relating to financial assets/liabilities \u00a0
measured at amortized cost \u00a0
11.3 \u00a0
2.2 \u00a0
-7.8 \u00a0
-6.4 \u00a0
3.5 \u00a0
-4.2 \u00a0
Interest expenses on leases \u00a0
0.0 \u00a0
0.0 \u00a0
-1.7 \u00a0
-1.8 \u00a0
-1.7 \u00a0
-1.8 \u00a0
Total interest \u00a0
11.3 \u00a0
2.2 \u00a0
-9.5 \u00a0
-8.2 \u00a0
1.8 \u00a0
-6.0 \u00a0
Foreign exchange gains/losses \u00a0
91.5 \u00a0
50.4 \u00a0
-93.1 \u00a0
-53.1 \u00a0
-1.6 \u00a0
-2.7 \u00a0
Gain/loss on derivative financial instruments \u00a0
6.7 \u00a0
19.7 \u00a0
-22.5 \u00a0
-1.9 \u00a0
-15.8 \u00a0
17.8 \u00a0
Total currency gain/losses \u00a0
98.2 \u00a0
70.1 \u00a0
-115.6 \u00a0
-55.0 \u00a0
-17.4 \u00a0
15.1 \u00a0
Total financial items \u00a0
109.5 \u00a0
72.3 \u00a0
-125.1 \u00a0
-63.2 \u00a0
-15.6 \u00a0
9.1 \u00a0
Financial income and expenses comprise interest, dividends, gain/loss on \u00a0
securities, receivables and transactions denominated in foreign currencies, \u00a0
amortization of financial assets and liabilities, allowances under the Danish \u00a0
tax prepayment scheme, as well as changes in the fair value of derivative \u00a0
financial instruments not designated as hedges. \u00a0
Accounting policy \u00a0
Changes in market values of currency and interest rate derivatives not \u00a0
entered into with the purpose of hedging an exposure, are recognized in \u00a0
financial income or expenses respectively. \u00a0
",
"dimensions": {
"concept": "ifrs-full:DisclosureOfFinanceIncomeExpenseExplanatory",
"language": "en",
"entity": "scheme:529900197LKWCEQ0NL18",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"fact2306": {
"value": "5.5 Financial
items \u00a0
Financial income \u00a0
Financial expenses \u00a0
Net financial items \u00a0
Amounts in EURm \u00a0
2023 \u00a0
2022 \u00a0
2023 \u00a0
2022 \u00a0
2023 2022 \u00a0
Interest etc. relating to financial assets/liabilities \u00a0
measured at amortized cost \u00a0
11.3 \u00a0
2.2 \u00a0
-7.8 \u00a0
-6.4 \u00a0
3.5 \u00a0
-4.2 \u00a0
Interest expenses on leases \u00a0
0.0 \u00a0
0.0 \u00a0
-1.7 \u00a0
-1.8 \u00a0
-1.7 \u00a0
-1.8 \u00a0
Total interest \u00a0
11.3 \u00a0
2.2 \u00a0
-9.5 \u00a0
-8.2 \u00a0
1.8 \u00a0
-6.0 \u00a0
Foreign exchange gains/losses \u00a0
91.5 \u00a0
50.4 \u00a0
-93.1 \u00a0
-53.1 \u00a0
-1.6 \u00a0
-2.7 \u00a0
Gain/loss on derivative financial instruments \u00a0
6.7 \u00a0
19.7 \u00a0
-22.5 \u00a0
-1.9 \u00a0
-15.8 \u00a0
17.8 \u00a0
Total currency gain/losses \u00a0
98.2 \u00a0
70.1 \u00a0
-115.6 \u00a0
-55.0 \u00a0
-17.4 \u00a0
15.1 \u00a0
Total financial items \u00a0
109.5 \u00a0
72.3 \u00a0
-125.1 \u00a0
-63.2 \u00a0
-15.6 \u00a0
9.1 \u00a0
Financial income and expenses comprise interest, dividends, gain/loss on \u00a0
securities, receivables and transactions denominated in foreign currencies, \u00a0
amortization of financial assets and liabilities, allowances under the Danish \u00a0
tax prepayment scheme, as well as changes in the fair value of derivative \u00a0
financial instruments not designated as hedges. \u00a0
Accounting policy \u00a0
Changes in market values of currency and interest rate derivatives not \u00a0
entered into with the purpose of hedging an exposure, are recognized in \u00a0
financial income or expenses respectively. \u00a0
",
"dimensions": {
"concept": "ifrs-full:DisclosureOfFinanceIncomeExplanatory",
"language": "en",
"entity": "scheme:529900197LKWCEQ0NL18",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"fact2307": {
"value": "5.5 Financial
items \u00a0
Financial income \u00a0
Financial expenses \u00a0
Net financial items \u00a0
Amounts in EURm \u00a0
2023 \u00a0
2022 \u00a0
2023 \u00a0
2022 \u00a0
2023 2022 \u00a0
Interest etc. relating to financial assets/liabilities \u00a0
measured at amortized cost \u00a0
11.3 \u00a0
2.2 \u00a0
-7.8 \u00a0
-6.4 \u00a0
3.5 \u00a0
-4.2 \u00a0
Interest expenses on leases \u00a0
0.0 \u00a0
0.0 \u00a0
-1.7 \u00a0
-1.8 \u00a0
-1.7 \u00a0
-1.8 \u00a0
Total interest \u00a0
11.3 \u00a0
2.2 \u00a0
-9.5 \u00a0
-8.2 \u00a0
1.8 \u00a0
-6.0 \u00a0
Foreign exchange gains/losses \u00a0
91.5 \u00a0
50.4 \u00a0
-93.1 \u00a0
-53.1 \u00a0
-1.6 \u00a0
-2.7 \u00a0
Gain/loss on derivative financial instruments \u00a0
6.7 \u00a0
19.7 \u00a0
-22.5 \u00a0
-1.9 \u00a0
-15.8 \u00a0
17.8 \u00a0
Total currency gain/losses \u00a0
98.2 \u00a0
70.1 \u00a0
-115.6 \u00a0
-55.0 \u00a0
-17.4 \u00a0
15.1 \u00a0
Total financial items \u00a0
109.5 \u00a0
72.3 \u00a0
-125.1 \u00a0
-63.2 \u00a0
-15.6 \u00a0
9.1 \u00a0
Financial income and expenses comprise interest, dividends, gain/loss on \u00a0
securities, receivables and transactions denominated in foreign currencies, \u00a0
amortization of financial assets and liabilities, allowances under the Danish \u00a0
tax prepayment scheme, as well as changes in the fair value of derivative \u00a0
financial instruments not designated as hedges. \u00a0
Accounting policy \u00a0
Changes in market values of currency and interest rate derivatives not \u00a0
entered into with the purpose of hedging an exposure, are recognized in \u00a0
financial income or expenses respectively. \u00a0
",
"dimensions": {
"concept": "ifrs-full:DisclosureOfInterestExpenseExplanatory",
"language": "en",
"entity": "scheme:529900197LKWCEQ0NL18",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"fact2308": {
"value": "5.5 Financial
items \u00a0
Financial income \u00a0
Financial expenses \u00a0
Net financial items \u00a0
Amounts in EURm \u00a0
2023 \u00a0
2022 \u00a0
2023 \u00a0
2022 \u00a0
2023 2022 \u00a0
Interest etc. relating to financial assets/liabilities \u00a0
measured at amortized cost \u00a0
11.3 \u00a0
2.2 \u00a0
-7.8 \u00a0
-6.4 \u00a0
3.5 \u00a0
-4.2 \u00a0
Interest expenses on leases \u00a0
0.0 \u00a0
0.0 \u00a0
-1.7 \u00a0
-1.8 \u00a0
-1.7 \u00a0
-1.8 \u00a0
Total interest \u00a0
11.3 \u00a0
2.2 \u00a0
-9.5 \u00a0
-8.2 \u00a0
1.8 \u00a0
-6.0 \u00a0
Foreign exchange gains/losses \u00a0
91.5 \u00a0
50.4 \u00a0
-93.1 \u00a0
-53.1 \u00a0
-1.6 \u00a0
-2.7 \u00a0
Gain/loss on derivative financial instruments \u00a0
6.7 \u00a0
19.7 \u00a0
-22.5 \u00a0
-1.9 \u00a0
-15.8 \u00a0
17.8 \u00a0
Total currency gain/losses \u00a0
98.2 \u00a0
70.1 \u00a0
-115.6 \u00a0
-55.0 \u00a0
-17.4 \u00a0
15.1 \u00a0
Total financial items \u00a0
109.5 \u00a0
72.3 \u00a0
-125.1 \u00a0
-63.2 \u00a0
-15.6 \u00a0
9.1 \u00a0
Financial income and expenses comprise interest, dividends, gain/loss on \u00a0
securities, receivables and transactions denominated in foreign currencies, \u00a0
amortization of financial assets and liabilities, allowances under the Danish \u00a0
tax prepayment scheme, as well as changes in the fair value of derivative \u00a0
financial instruments not designated as hedges. \u00a0
Accounting policy \u00a0
Changes in market values of currency and interest rate derivatives not \u00a0
entered into with the purpose of hedging an exposure, are recognized in \u00a0
financial income or expenses respectively. \u00a0
",
"dimensions": {
"concept": "ifrs-full:DisclosureOfInterestIncomeExplanatory",
"language": "en",
"entity": "scheme:529900197LKWCEQ0NL18",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"fact2309": {
"value": "5.5 Financial
items \u00a0
Financial income \u00a0
Financial expenses \u00a0
Net financial items \u00a0
Amounts in EURm \u00a0
2023 \u00a0
2022 \u00a0
2023 \u00a0
2022 \u00a0
2023 2022 \u00a0
Interest etc. relating to financial assets/liabilities \u00a0
measured at amortized cost \u00a0
11.3 \u00a0
2.2 \u00a0
-7.8 \u00a0
-6.4 \u00a0
3.5 \u00a0
-4.2 \u00a0
Interest expenses on leases \u00a0
0.0 \u00a0
0.0 \u00a0
-1.7 \u00a0
-1.8 \u00a0
-1.7 \u00a0
-1.8 \u00a0
Total interest \u00a0
11.3 \u00a0
2.2 \u00a0
-9.5 \u00a0
-8.2 \u00a0
1.8 \u00a0
-6.0 \u00a0
Foreign exchange gains/losses \u00a0
91.5 \u00a0
50.4 \u00a0
-93.1 \u00a0
-53.1 \u00a0
-1.6 \u00a0
-2.7 \u00a0
Gain/loss on derivative financial instruments \u00a0
6.7 \u00a0
19.7 \u00a0
-22.5 \u00a0
-1.9 \u00a0
-15.8 \u00a0
17.8 \u00a0
Total currency gain/losses \u00a0
98.2 \u00a0
70.1 \u00a0
-115.6 \u00a0
-55.0 \u00a0
-17.4 \u00a0
15.1 \u00a0
Total financial items \u00a0
109.5 \u00a0
72.3 \u00a0
-125.1 \u00a0
-63.2 \u00a0
-15.6 \u00a0
9.1 \u00a0
Financial income and expenses comprise interest, dividends, gain/loss on \u00a0
securities, receivables and transactions denominated in foreign currencies, \u00a0
amortization of financial assets and liabilities, allowances under the Danish \u00a0
tax prepayment scheme, as well as changes in the fair value of derivative \u00a0
financial instruments not designated as hedges. \u00a0
Accounting policy \u00a0
Changes in market values of currency and interest rate derivatives not \u00a0
entered into with the purpose of hedging an exposure, are recognized in \u00a0
financial income or expenses respectively. \u00a0
",
"dimensions": {
"concept": "ifrs-full:DisclosureOfInterestIncomeExpenseExplanatory",
"language": "en",
"entity": "scheme:529900197LKWCEQ0NL18",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"fact2300": {
"value": "Accounting policy \u00a0
Interest-bearing loans and borrowings are recognized at the amount of \u00a0
proceeds received at the date of borrowing, net of transaction costs paid. \u00a0
In subsequent periods the financial liabilities are measured at amortized \u00a0
cost using \u2018the effective interest method\u2019, and the difference between \u00a0
the proceeds and the nominal value is therefore being recognized in the \u00a0
income statement under financial expenses over the term of the loan. \u00a0
Interest-bearing loans and borrowings also include the capitalized residual \u00a0
lease obligations on finance leases measured at amortized cost. \u00a0
",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForBorrowingsExplanatory",
"language": "en",
"entity": "scheme:529900197LKWCEQ0NL18",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"fact2316": {
"value": "Accounting policy \u00a0
Changes in market values of currency and interest rate derivatives not \u00a0
entered into with the purpose of hedging an exposure, are recognized in \u00a0
financial income or expenses respectively. \u00a0
",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForFinanceIncomeAndCostsExplanatory",
"language": "en",
"entity": "scheme:529900197LKWCEQ0NL18",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"fact2317": {
"value": "Accounting policy \u00a0
Changes in market values of currency and interest rate derivatives not \u00a0
entered into with the purpose of hedging an exposure, are recognized in \u00a0
financial income or expenses respectively. \u00a0
",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForFinanceCostsExplanatory",
"language": "en",
"entity": "scheme:529900197LKWCEQ0NL18",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"fact2318": {
"value": "Accounting policy \u00a0
Changes in market values of currency and interest rate derivatives not \u00a0
entered into with the purpose of hedging an exposure, are recognized in \u00a0
financial income or expenses respectively. \u00a0
",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForInterestIncomeAndExpenseExplanatory",
"language": "en",
"entity": "scheme:529900197LKWCEQ0NL18",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"fact2327": {
"value": "5.6 Financial
risks and financial instruments \u00a0
Financial risk management policy \u00a0
NKT is exposed to and manages several financial risks due \u00a0
to its operations, investments and financing activities. The \u00a0
risk policy does not allow for speculation in financial risks. \u00a0
The risk management policy is managed by Group \u00a0
Treasury. The general principle is that all known risks \u00a0
are hedged, though with acceptance of an open posi- \u00a0
tion within a defined threshold. The risk thresholds are \u00a0
defined at a level, that insure NKT is sufficiently protected \u00a0
against any risk, while providing Group Treasury room for \u00a0
managing risks efficiently. \u00a0
NKT uses financial instruments, such as forwards, swaps \u00a0
and interest rate caps to hedge exposures relating to \u00a0
currency, interest rates, and commodities. While options \u00a0
are also available as instruments, no option contracts are \u00a0
active at the end of 2023 (none in 2022). \u00a0
The financial risks, as described further below, are divided into: \u00a0
\u25a0
Currency risks \u00a0
Interest rate risks \u00a0
\u25a0
\u25a0
Raw material price risks \u00a0
Credit risks \u00a0
\u25a0
\u25a0
Liquidity risks \u00a0
Currency risks \u00a0
With presence in several countries NKT is exposed to \u00a0
currency risks that may have considerable influence on \u00a0
the income statement and balance sheet. Currency risks \u00a0
refer to the risks of losses (or opportunities for gains) \u00a0
resulting from changes in currency rates. Currency risks \u00a0
arise through transactions, financial assets and liabilities \u00a0
denominated in currencies other than the functional \u00a0
currency of the individual businesses. Quantification and \u00a0
identification of existing and anticipated currency risks \u00a0
are the responsibility of the individual businesses, while \u00a0
the actual hedging is executed by Group Treasury. \u00a0
NKT does not hedge the currency risks related to net \u00a0
investments in foreign subsidiaries. Gains and losses \u00a0
relating to unhedged net assets in foreign subsidiaries are \u00a0
accounted directly in other comprehensive income. \u00a0
The principal currency exposure relates to sales and \u00a0
purchases in currencies other than the functional \u00a0
currency of the businesses. Hedging of these currency \u00a0
risks are based on an assessment of the likelihood of the \u00a0
future transaction being performed and materiality. \u00a0
Expected cash flows with significant currency risk are \u00a0
hedged as they become known. Currency risks from \u00a0
project-related sales are considered on an individual basis. \u00a0
The fair value of the effective part of the hedge is recognized \u00a0
in other comprehensive income on a continuous basis. \u00a0
The table on the next page shows net outstanding \u00a0
forward exchange hedging contracts as at 31 December \u00a0
for NKT, which are used for and fulfil the conditions for \u00a0
hedge accounting of future transactions. \u00a0
The fair value of the total portfolio of currency hedge \u00a0
contracts will impact other comprehensive income if \u00a0
currency rates change. The effect of a 10% increase in \u00a0
selected currency rates is shown in the table to the right. \u00a0
As NKT currently only uses forwards and spots to hedge \u00a0
the FX risks, and only designate the spot element, \u00a0
the likelihood of inefficiency is low, though possible if \u00a0
changes in expected cashflows from projects are not \u00a0
reflected correctly in the hedges. \u00a0
Interest rate risks \u00a0
Interest rate risks refer to the influence of changes in \u00a0
market interest rates on future cash flows concerning \u00a0
interest-bearing assets and liabilities. \u00a0
In 2023 two interest rate swaps were terminated, hence, \u00a0
at the end of 2023 no interest rate swaps existed. In 2022 \u00a0
no interest rate swaps were made. \u00a0
As of end-2023, the market value of the interest rate \u00a0
derivatives was EUR 0.0m (EUR 7.6m in 2022). \u00a0
Sensitivity analysis - financial instruments \u00a0
EURm \u00a0
2023 \u00a0
2022 \u00a0
Effect on \u00a0
Effect on \u00a0
Effect on \u00a0
Effect on \u00a0
Price \u00a0
earnings \u00a0
equity \u00a0
earnings \u00a0
equity \u00a0
Risk \u00a0
change \u00a0
before tax \u00a0
before tax \u00a0
before tax \u00a0
before tax \u00a0
SEK \u00a0
10% \u00a0
13.7 \u00a0
40.5 \u00a0
-43.7 \u00a0
62.5 \u00a0
-10% \u00a0
-13.7 \u00a0
-40.5 \u00a0
43.7 \u00a0
-62.5 \u00a0
GBP \u00a0
10% \u00a0
-0.2 \u00a0
-15.1 \u00a0
0.3 \u00a0
-22.8 \u00a0
-10% \u00a0
0.2 \u00a0
15.1 \u00a0
-0.3 \u00a0
22.8 \u00a0
NOK \u00a0
10% \u00a0
1.1 \u00a0
2.2 \u00a0
0.0 \u00a0
2.6 \u00a0
-10% \u00a0
-1.1 \u00a0
-2.2 \u00a0
0.0 \u00a0
-2.6 \u00a0
USD \u00a0
10% \u00a0
-1.9 \u00a0
-24.5 \u00a0
0.0 \u00a0
-29.4 \u00a0
-10% \u00a0
1.9 \u00a0
24.5 \u00a0
0.0 \u00a0
29.4 \u00a0
CZK \u00a0
10% \u00a0
0.0 \u00a0
0.0 \u00a0
-0.8 \u00a0
-0.4 \u00a0
-10% \u00a0
0.0 \u00a0
0.0 \u00a0
0.8 \u00a0
0.4 \u00a0
PLN \u00a0
10% \u00a0
-1.3 \u00a0
0.0 \u00a0
3.6 \u00a0
0.0 \u00a0
-10% \u00a0
1.3 \u00a0
0.0 \u00a0
-3.6 \u00a0
0.0 \u00a0
CAD \u00a0
10% \u00a0
0.0 \u00a0
-3.6 \u00a0
0.0 \u00a0
-6.2 \u00a0
-10% \u00a0
0.0 \u00a0
3.6 \u00a0
0.0 \u00a0
6.2 \u00a0
Copper \u00a0
10% \u00a0
0.0 \u00a0
50.9 \u00a0
0.0 \u00a0
54.5 \u00a0
-10% \u00a0
0.0 \u00a0
-50.9 \u00a0
0.0 \u00a0
-54.5 \u00a0
Lead \u00a0
10% \u00a0
0.0 \u00a0
2.5 \u00a0
0.0 \u00a0
1.9 \u00a0
-10% \u00a0
0.0 \u00a0
-2.5 \u00a0
0.0 \u00a0
-1.9 \u00a0
Aluminium \u00a0
10% \u00a0
0.0 \u00a0
0.3 \u00a0
0.0 \u00a0
-1.1 \u00a0
-10% \u00a0
0.0 \u00a0
-0.3 \u00a0
0.0 \u00a0
1.1 \u00a0
Gas-oil \u00a0
10% \u00a0
0.0 \u00a0
1.5 \u00a0
0.0 \u00a0
2.3 \u00a0
-10% \u00a0
0.0 \u00a0
-1.5 \u00a0
0.0 \u00a0
-2.3 \u00a0
The table above shows a sensitivity analysis of the exposures in currencies and commodities assuming effective hedge \u00a0
accounting is continued to be applied. The presented effects are from the financial instruments only (all things being \u00a0
equal). When also considering the development of the underlying exposure the future income statement effects, will be \u00a0
fully or partially offset as hedge accounting is applied. \u00a0
Cash flow hedges related to \u00a0
Notional value \u00a0
Notional value \u00a0
Fair value \u00a0
the most significant currencies \u00a0
Average exchange rate1 \u00a0
Local currency in million \u00a0
EURm \u00a0
EURm \u00a0
Local currency \u00a0
31 Dec 2023
31 Dec 2022
31 Dec 2022
31 Dec 2022
31 Dec 2022 \u00a0
31 Dec 2023
31 Dec 2023
31 Dec 2023
SEK2 \u00a0
Buy \u00a0
Less than 1 year \u00a0
0.0901 \u00a0
0.0943 \u00a0
12,911.34 \u00a0
7,661.54 \u00a0
1,163.10 \u00a0
722.30 \u00a0
-3.8 \u00a0
-35.8 \u00a0
More than 1 year \u00a0
0.0895 \u00a0
0.0938 \u00a0
10,595.12 \u00a0
8,963.35 \u00a0
948.57 \u00a0
840.94 \u00a0
2.7 \u00a0
-37.8 \u00a0
Sell \u00a0
Less than 1 year \u00a0
0.0888 \u00a0
0.0926 \u00a0
10,291.22 \u00a0
6,873.45 \u00a0
913.67 \u00a0
636.51 \u00a0
-10.3 \u00a0
20.6 \u00a0
More than 1 year \u00a0
0.0886 \u00a0
0.0940 \u00a0
8,724.97 \u00a0
3,431.63 \u00a0
772.92 \u00a0
322.62 \u00a0
-10.5 \u00a0
15.1 \u00a0
USD \u00a0
Buy \u00a0
Less than 1 year \u00a0
0.9230 \u00a0
0.9410 \u00a0
798.24 \u00a0
562.29 \u00a0
736.78 \u00a0
529.13 \u00a0
-23.4 \u00a0
-9.5 \u00a0
More than 1 year \u00a0
0.9088 \u00a0
0.9486 \u00a0
592.35 \u00a0
281.06 \u00a0
538.31 \u00a0
266.62 \u00a0
-15.7 \u00a0
-10.6 \u00a0
Sell \u00a0
Less than 1 year \u00a0
0.9246 \u00a0
0.9697 \u00a0
882.48 \u00a0
542.51 \u00a0
815.96 \u00a0
526.09 \u00a0
30.6 \u00a0
25.1 \u00a0
More than 1 year \u00a0
0.9142 \u00a0
0.9341 \u00a0
778.72 \u00a0
617.35 \u00a0
711.88 \u00a0
576.67 \u00a0
28.2 \u00a0
15.8 \u00a0
GBP \u00a0
Buy \u00a0
Less than 1 year \u00a0
1.1379 \u00a0
1.1522 \u00a0
125.13 \u00a0
104.12 \u00a0
142.38 \u00a0
119.97 \u00a0
-3.2 \u00a0
-3.3 \u00a0
More than 1 year \u00a0
1.1146 \u00a0
1.1626 \u00a0
195.36 \u00a0
35.24 \u00a0
217.74 \u00a0
40.97 \u00a0
0.9 \u00a0
-1.7 \u00a0
Sell \u00a0
Less than 1 year \u00a0
1.1477 \u00a0
1.1551 \u00a0
250.21 \u00a0
144.55 \u00a0
287.17 \u00a0
166.98 \u00a0
6.3 \u00a0
5.1 \u00a0
More than 1 year \u00a0
1.1410 \u00a0
1.1702 \u00a0
201.26 \u00a0
196.46 \u00a0
229.63 \u00a0
229.90 \u00a0
4.2 \u00a0
9.8 \u00a0
NOK \u00a0
Buy \u00a0
Less than 1 year \u00a0
0.0883 \u00a0
0.0975 \u00a0
310.51 \u00a0
329.04 \u00a0
27.43 \u00a0
32.08 \u00a0
0.2 \u00a0
-1.7 \u00a0
More than 1 year \u00a0
0.0895 \u00a0
0.1028 \u00a0
208.41 \u00a0
151.65 \u00a0
18.66 \u00a0
15.59 \u00a0
-0.2 \u00a0
-1.4 \u00a0
Sell \u00a0
Less than 1 year \u00a0
0.0880 \u00a0
0.1020 \u00a0
159.12 \u00a0
191.14 \u00a0
14.01 \u00a0
19.49 \u00a0
-0.1 \u00a0
1.6 \u00a0
More than 1 year \u00a0
0.0860 \u00a0
0.0988 \u00a0
109.3 \u00a0
14.75 \u00a0
9.4 \u00a0
1.46 \u00a0
-0.3 \u00a0
0.1 \u00a0
CAD \u00a0
Buy \u00a0
Less than 1 year \u00a0
0.6835 \u00a0
0.7137 \u00a0
15.78 \u00a0
24.00 \u00a0
10.79 \u00a0
17.13 \u00a0
0.0 \u00a0
-0.7 \u00a0
More than 1 year \u00a0
9.3 \u00a0
Sell \u00a0
Less than 1 year \u00a0
0.7277 \u00a0
0.7413 \u00a0
68.20 \u00a0
67.96 \u00a0
49.63 \u00a0
50.38 \u00a0
3.7 \u00a0
4.0 \u00a0
More than 1 year \u00a0
0.7500 \u00a0
0.0 \u00a0
45.30 \u00a0
0.0 \u00a0
33.98 \u00a0
0.0 \u00a0
3.4 \u00a0
Cash flow hedges reported as assets \u00a0
106.2 \u00a0
74.5 \u00a0
Cash flow hedges reported as liabilities \u00a0
87.8 \u00a0
76.4 \u00a0
1
Local currency/EUR \u00a0
2
For hedges in Local currency/SEK the SEK part has been tranferred to EUR, and a value of the SEK part has been calculated. \u00a0
Accounting policy \u00a0
NKT mainly apply hedge accounting for financial \u00a0
instruments related to currency, raw materials as well \u00a0
as interest rates for loans. The hedges normally hedge \u00a0
the risk one-to-one with the hedged item. Only gas-oil \u00a0
hedges for the hedging of the price risk of plastic differs \u00a0
from this principle, as Group Treasury here determine \u00a0
the ratio necessary to hedge the price risk for plastic. \u00a0
The Group designates the share of the fair value of a \u00a0
forward contract that is related to cash price for metals \u00a0
and spot price for FX hedges (i.e. excluding the forward \u00a0
elements) as the hedging instrument for all of its hedging \u00a0
relationships involving forward contracts. In accordance \u00a0
with the cost of hedging principle all fair values related \u00a0
to the forward element of the hedging contract is recog- \u00a0
nized in other comprehensive income and accumulated \u00a0
in the cost of hedging reserve. As the hedged items are \u00a0
transaction-related, the forward element is reclassified to \u00a0
the profit or loss when the hedged item affects profit or \u00a0
loss, and in the same line item as the hedged item. \u00a0
Fair value changes for cash flow hedges considered \u00a0
effective, are recognized in other comprehensive income \u00a0
in the hedging reserve. For each reporting date, effec- \u00a0
tiveness is considered and if the future cash flows are no \u00a0
longer expected to materialize, the accumulated value \u00a0
reported in the hedge reserve is reclassified to financial \u00a0
items in the income statement. In all other cases the \u00a0
accumulated value is reclassified to the income state- \u00a0
ment in the same line as the hedged item. \u00a0
Raw material price risks \u00a0
Raw material price risks primarily relate to metals and \u00a0
plastics used in the cable production. When changes in \u00a0
raw material prices cannot be transferred to customers, \u00a0
NKT uses financial instruments to hedge the price risks. \u00a0
NKT has, due to the larger order backlog, a high amount \u00a0
of raw material derivatives to cover the risks related to the \u00a0
large future purchases of especially copper. Exposures \u00a0
and hedging of current and expected future raw material \u00a0
risks are managed by the businesses based on adopted \u00a0
Group guidelines. Hedging of awarded projects are done \u00a0
at the time of award and adjusted according to changes \u00a0
in production plans. \u00a0
NKT hedges raw materials by purchasing hedging instru- \u00a0
ments on London Metal Exchange via financial counter- \u00a0
parties. Changes in the fair value of the hedging instru- \u00a0
ment should offset changes in the value of the underlying \u00a0
item because the reference prices are the same for the \u00a0
hedging instrument and the hedged item. NKT applies \u00a0
cost of hedging, whereby the forward points are recog- \u00a0
nized in other comprehensive income and transferred with \u00a0
the effective hedge when the hedged transaction occurs. \u00a0
For the hedge of plastic, ineffectiveness will arise as this \u00a0
is hedged via a gas-oil proxy hedge. Ineffectiveness \u00a0
because of differences in the change between gas-oil \u00a0
and plastic are considered insignificant. \u00a0
As at 31 December 2023, NKT A/S had current finan- \u00a0
cial hedging instruments relating to future raw material \u00a0
supplies with a net notional value of EUR 1,083.9m (EUR \u00a0
908.6m in 2022) and a net positive fair value of EUR \u00a0
77.4m (positive value of EUR 170.8m in 2022). \u00a0
Sensitivity to the development (+/- 10%) in raw material \u00a0
prices is presented in the table on page 89. The table to \u00a0
the right provides an overview of the cash flow hedges \u00a0
related to raw materials. \u00a0
Cash flow hedges related to \u00a0
Average rate \u00a0
Notional value \u00a0
Fair value \u00a0
raw materials \u00a0
EUR/ton \u00a0
EURm \u00a0
EURm \u00a0
31 Dec \u00a0
31 Dec \u00a0
31 Dec \u00a0
31 Dec \u00a0
31 Dec \u00a0
31 Dec \u00a0
Commodity \u00a0
2023 \u00a0
2022 \u00a0
2023 \u00a0
2022 \u00a0
2023 \u00a0
2022 \u00a0
Copper \u00a0
Buy \u00a0
Less than 1 year \u00a0
6.652 \u00a0
5.961 \u00a0
578.7 \u00a0
528.6 \u00a0
84.3 \u00a0
169.6 \u00a0
More than 1 year \u00a0
7.915 \u00a0
7.485 \u00a0
253.7 \u00a0
301.2 \u00a0
-13.0 \u00a0
15.6 \u00a0
Sell \u00a0
Less than 1 year \u00a0
7.112 \u00a0
6.421 \u00a0
-69.2 \u00a0
-119.4 \u00a0
5.5 \u00a0
-26.9 \u00a0
More than 1 year \u00a0
Lead \u00a0
Buy \u00a0
Less than 1 year \u00a0
1.903 \u00a0
1.843 \u00a0
25.9 \u00a0
20.0 \u00a0
-0.8 \u00a0
4.0 \u00a0
More than 1 year \u00a0
1.996 \u00a0
1.897 \u00a0
59.1 \u00a0
10.2 \u00a0
-3.0 \u00a0
1.7 \u00a0
Sell \u00a0
Less than 1 year \u00a0
1.804 \u00a0
1.885 \u00a0
-1.0 \u00a0
-3.2 \u00a0
0.0 \u00a0
-0.5 \u00a0
More than 1 year \u00a0
Aluminium \u00a0
Buy \u00a0
Less than 1 year \u00a0
2.051 \u00a0
2.349 \u00a0
9.3 \u00a0
13.3 \u00a0
0.4 \u00a0
-0.8 \u00a0
More than 1 year \u00a0
2.459 \u00a0
39.4 \u00a0
Sell \u00a0
Less than 1 year \u00a0
2.000 \u00a0
2.312 \u00a0
-12.4 \u00a0
-24.9 \u00a0
0.8 \u00a0
1.1 \u00a0
More than 1 year \u00a0
Gas-oil \u00a0
Buy \u00a0
Less than 1 year \u00a0
550 \u00a0
620 \u00a0
18.6 \u00a0
20.4 \u00a0
3.6 \u00a0
5.5 \u00a0
More than 1 year \u00a0
615 \u00a0
613 \u00a0
11.7 \u00a0
13.0 \u00a0
-0.2 \u00a0
1.5 \u00a0
Sell \u00a0
Less than 1 year \u00a0
669 \u00a0
634 \u00a0
-4.0 \u00a0
-2.0 \u00a0
0.0 \u00a0
-0.6 \u00a0
More than 1 year \u00a0
847 \u00a0
847 \u00a0
-1.0 \u00a0
-2.9 \u00a0
-0.3 \u00a0
0.6 \u00a0
Cash flow hedges reported as assets \u00a0
83.9 \u00a0
171.0 \u00a0
Cash flow hedges reported as liabilities \u00a0
6.5 \u00a0
0.2 \u00a0
Accounting policy \u00a0
Fair value changes of financial instruments used to \u00a0
hedge the change in fair value of an asset or liability is \u00a0
recorded in the income statement in the same line item \u00a0
as the changes in value of the hedged asset or liability \u00a0
is recognized in. \u00a0
Hedging of currency risk is not performed for net \u00a0
assets (equity) in foreign subsidiaries. Gains and losses \u00a0
relating to unhedged net assets in foreign subsidiaries \u00a0
are accounted for directly in other comprehensive \u00a0
income. \u00a0
Cash flow hedge reserve \u00a0
Foreign \u00a0
exchange \u00a0
Interest rate \u00a0
Commodity \u00a0
Amounts in EURm \u00a0
risk hedging \u00a0
risk hedging \u00a0
risk hedging \u00a0
Total \u00a0
Balance at 1 January 2022 \u00a0
-3.3 \u00a0
0.6 \u00a0
184.7 \u00a0
182.0 \u00a0
Gain/(loss) arising from changes in fair value of hedging instruments \u00a0
0.8 \u00a0
6.7 \u00a0
63.9 \u00a0
71.4 \u00a0
(Gain)/loss reclassified to profit or loss - hedged items have affected profit or loss \u00a0
3.0 \u00a0
0.0 \u00a0
-125.8 \u00a0
-122.8 \u00a0
Deferred tax \u00a0
-0.8 \u00a0
-1.5 \u00a0
17.3 \u00a0
15.0 \u00a0
Balance at 31 December 2022 \u00a0
-0.3 \u00a0
5.8 \u00a0
140.1 \u00a0
145.6 \u00a0
Gain/(loss) arising from changes in fair value of hedging instruments \u00a0
22.3 \u00a0
-2.3 \u00a0
30.6 \u00a0
50.6 \u00a0
(Gain)/loss reclassified to profit or loss - hedged items have affected profit or loss \u00a0
-2.4 \u00a0
0.0 \u00a0
-135.0 \u00a0
-137.4 \u00a0
Deferred tax \u00a0
1.4 \u00a0
0.6 \u00a0
26.8 \u00a0
28.8 \u00a0
Balance at 31 December 2023 \u00a0
21.0 \u00a0
4.1 \u00a0
62.5 \u00a0
87.6 \u00a0
Cost of hedging reserve \u00a0
Foreign \u00a0
exchange \u00a0
Interest rate \u00a0
Commodity \u00a0
Amounts in EURm \u00a0
risk hedging \u00a0
risk hedging \u00a0
risk hedging \u00a0
Total \u00a0
Balance at 1 January 2022 \u00a0
-1.0 \u00a0
0.0 \u00a0
-15.2 \u00a0
-16.2 \u00a0
Loss arising from changes in fair value of hedging instruments \u00a0
1.3 \u00a0
0.0 \u00a0
0.4 \u00a0
1.7 \u00a0
Loss reclassified to profit or loss - hedged items have affected profit or loss \u00a0
0.0 \u00a0
0.0 \u00a0
2.9 \u00a0
2.9 \u00a0
Deferred tax \u00a0
-0.3 \u00a0
0.0 \u00a0
-0.8 \u00a0
-1.1 \u00a0
Balance at 31 December 2022 \u00a0
0.0 \u00a0
0.0 \u00a0
-12.7 \u00a0
-12.7 \u00a0
Gain/(loss) arising from changes in fair value of hedging instruments \u00a0
-10.0 \u00a0
0.0 \u00a0
34.8 \u00a0
24.8 \u00a0
(Gain)/loss reclassified to profit or loss - hedged items have affected profit or loss \u00a0
1.1 \u00a0
0.0 \u00a0
-3.8 \u00a0
-2.7 \u00a0
Deferred tax \u00a0
-0.6 \u00a0
0.0 \u00a0
-8.1 \u00a0
-8.7 \u00a0
Balance at 31 December 2023 \u00a0
-9.5 \u00a0
0.0 \u00a0
10.2 \u00a0
0.7 \u00a0
Of the fair values recorded in other comprehensive income, EUR 5.9m is expected to be recorded in Revenue (EUR 0.6m in 2022) and EUR 82.4m (EUR \u00a0
132.3m in 2022) is expected to be recorded in Cost of raw materials, consumables and goods for resale. \u00a0
Categories of financial instruments \u00a0
Amounts in EURm \u00a0
2023 \u00a0
2022 \u00a0
Financial assets \u00a0
Measured at amortized costs: \u00a0
Receivables \u00a0
339.8 \u00a0
273.2 \u00a0
Contract assets \u00a0
106.9 \u00a0
98.2 \u00a0
Interest bearing receivables \u00a0
0.2 \u00a0
0.2 \u00a0
Cash at bank and in hand \u00a0
887.9 \u00a0
258.5 \u00a0
Measured at fair value \u00a0
through profit /loss: \u00a0
Other investments and \u00a0
receivables \u00a0
0.8 \u00a0
0.8 \u00a0
Derivative financial instruments \u00a0
185.4 \u00a0
249.3 \u00a0
Financial liabilities \u00a0
Measured at amortized costs: \u00a0
Trade payables and other liabilities \u00a0
509.0 \u00a0
502.1 \u00a0
Interest-bearing loans and borrowings \u00a0
207.4 \u00a0
195.8 \u00a0
Measured at fair value \u00a0
through profit /loss: \u00a0
Derivative financial instruments \u00a0
94.3 \u00a0
76.6 \u00a0
In the table above, financial instruments are presented in the categories \u00a0
which determine, how they will be measured in the financial statements. \u00a0
Measuring fair value \u00a0
Financial instruments measured at fair value in the balance sheet are desig- \u00a0
nated as belonging to one of the following three categories (the \u2018fair value \u00a0
hierarchy\u2019): \u00a0
Level 1:
Listed prices (unadjusted) in active markets for identical assets \u00a0
and liabilities \u00a0
Level 2:
Input, other than listed prices on Level 1, which is observable for the \u00a0
asset or liability either directly (as prices) or indirectly (derived from \u00a0
prices) \u00a0
Level 3:
Input for the asset or liability which is not based on observable \u00a0
market data (non-observable input) \u00a0
Financial instruments measured at fair value consist of derivative financial \u00a0
instruments. The fair value at 31 December 2023 and 2022 of NKT Group\u2019s \u00a0
forward transactions are measured in accordance with Level 2 as the fair \u00a0
value is calculated based on official exchange rates and forward rates at the \u00a0
balance sheet date. \u00a0
The fair value of commodity forwards is measured as the present value of \u00a0
future cash flows based on forward rates and official exchange rates at the \u00a0
balance sheet date. The fair value of foreign currency forwards is measured \u00a0
as the present value of future cash flows based on the forward exchange \u00a0
rates at the balance sheet date. \u00a0
No financial instruments were moved from one level to another in the year (no \u00a0
move in 2022 either). \u00a0
Liquidity risks \u00a0
It is NKT Group\u2019s policy to maintain adequate liquidity resources to imple- \u00a0
ment planned operating activities and to be able to operate effectively in the \u00a0
event of unforeseen fluctuations in liquidity. NKT Group\u2019s liquidity resources \u00a0
consist of cash, cash equivalents and undrawn committed credit facilities. \u00a0
The revolving credit facility of EUR 200m matures in November 2026. The \u00a0
mortgage loan portfolio matures in 2032, 2033 and 2037. \u00a0
NKT has financial covenants and change of control clause on certain finan- \u00a0
cial agreements. The latter comes into effect if a shareholder or shareholder \u00a0
group gains control over NKT A/S or if NKT A/S is no longer listed at Nasdaq \u00a0
Copenhagen. \u00a0
It is Group Management\u2019s opinion, that the financial headroom is sufficient to \u00a0
manage the level of activity expected in 2024 for the NKT Group. \u00a0
Liquidity resources \u00a0
Amounts in EURm \u00a0
2023 \u00a0
2022 \u00a0
Committed facilities (>3 years) \u00a0
0.0 \u00a0
0.0 \u00a0
Committed facilities (1-3 years) \u00a0
200.0 \u00a0
200.0 \u00a0
Committed facilities (<1 year) \u00a0
0.0 \u00a0
0.0 \u00a0
Total commited facilities \u00a0
200.0 \u00a0
200.0 \u00a0
Uncommitted facilities \u00a0
0.0 \u00a0
0.0 \u00a0
Total facilities \u00a0
200.0 \u00a0
200.0 \u00a0
Cash \u00a0
887.9 \u00a0
258.5 \u00a0
Utilized facilities \u00a0
0.0 \u00a0
-9.0 \u00a0
Cash classified as assets held for sale \u00a0
2.4 \u00a0
3.7 \u00a0
Liquidity recources \u00a0
1,090.3 \u00a0
453.2 \u00a0
Credit risks \u00a0
Credit risk arises from the possibility that transactional counterparties may \u00a0
default on their obligations causing financial losses for the Group. \u00a0
NKT\u2019s credit risks relate partly to receivables, contract assets and cash at \u00a0
bank and in hand, and partly to derivative financial instruments with positive \u00a0
fair value. The maximum credit risk attached to financial assets correspond to \u00a0
the values recognized in the balance sheet. \u00a0
To manage credit risk regarding financial counterparties, NKT only enters into \u00a0
derivative financial contracts and money market deposits with financial coun- \u00a0
terparties possessing a long-term credit rating of \u2018A-\u2018 from at least one out of \u00a0
the following three selected rating agencies: Standard and Poor's, Moody's \u00a0
or Fitch. \u00a0
NKT has no material risks relating to a single customer or partner. NKT\u2019s \u00a0
policy for acceptance of credit risks entails ongoing monitoring and credit \u00a0
rating of important customers and other partners. NKT obtains prepayments \u00a0
or bank guarantees from customers, when considered needed. Thus, insur- \u00a0
ance cover and similar measures to hedge receivables are rarely applied as \u00a0
NKT historically has had only few material losses. \u00a0
",
"dimensions": {
"concept": "ifrs-full:DisclosureOfFinancialInstrumentsExplanatory",
"language": "en",
"entity": "scheme:529900197LKWCEQ0NL18",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"fact2331": {
"value": "Currency risks \u00a0
With presence in several countries NKT is exposed to \u00a0
currency risks that may have considerable influence on \u00a0
the income statement and balance sheet. Currency risks \u00a0
refer to the risks of losses (or opportunities for gains) \u00a0
resulting from changes in currency rates. Currency risks \u00a0
arise through transactions, financial assets and liabilities \u00a0
denominated in currencies other than the functional \u00a0
currency of the individual businesses. Quantification and \u00a0
identification of existing and anticipated currency risks \u00a0
are the responsibility of the individual businesses, while \u00a0
the actual hedging is executed by Group Treasury. \u00a0
NKT does not hedge the currency risks related to net \u00a0
investments in foreign subsidiaries. Gains and losses \u00a0
relating to unhedged net assets in foreign subsidiaries are \u00a0
accounted directly in other comprehensive income. \u00a0
The principal currency exposure relates to sales and \u00a0
purchases in currencies other than the functional \u00a0
currency of the businesses. Hedging of these currency \u00a0
risks are based on an assessment of the likelihood of the \u00a0
future transaction being performed and materiality. \u00a0
Expected cash flows with significant currency risk are \u00a0
hedged as they become known. Currency risks from \u00a0
project-related sales are considered on an individual basis. \u00a0
The fair value of the effective part of the hedge is recognized \u00a0
in other comprehensive income on a continuous basis. \u00a0
The table on the next page shows net outstanding \u00a0
forward exchange hedging contracts as at 31 December \u00a0
for NKT, which are used for and fulfil the conditions for \u00a0
hedge accounting of future transactions. \u00a0
The fair value of the total portfolio of currency hedge \u00a0
contracts will impact other comprehensive income if \u00a0
currency rates change. The effect of a 10% increase in \u00a0
selected currency rates is shown in the table to the right. \u00a0
As NKT currently only uses forwards and spots to hedge \u00a0
the FX risks, and only designate the spot element, \u00a0
the likelihood of inefficiency is low, though possible if \u00a0
changes in expected cashflows from projects are not \u00a0
reflected correctly in the hedges. \u00a0
Interest rate risks \u00a0
Interest rate risks refer to the influence of changes in \u00a0
market interest rates on future cash flows concerning \u00a0
interest-bearing assets and liabilities. \u00a0
In 2023 two interest rate swaps were terminated, hence, \u00a0
at the end of 2023 no interest rate swaps existed. In 2022 \u00a0
no interest rate swaps were made. \u00a0
As of end-2023, the market value of the interest rate \u00a0
derivatives was EUR 0.0m (EUR 7.6m in 2022). \u00a0
Sensitivity analysis - financial instruments \u00a0
EURm \u00a0
2023 \u00a0
2022 \u00a0
Effect on \u00a0
Effect on \u00a0
Effect on \u00a0
Effect on \u00a0
Price \u00a0
earnings \u00a0
equity \u00a0
earnings \u00a0
equity \u00a0
Risk \u00a0
change \u00a0
before tax \u00a0
before tax \u00a0
before tax \u00a0
before tax \u00a0
SEK \u00a0
10% \u00a0
13.7 \u00a0
40.5 \u00a0
-43.7 \u00a0
62.5 \u00a0
-10% \u00a0
-13.7 \u00a0
-40.5 \u00a0
43.7 \u00a0
-62.5 \u00a0
GBP \u00a0
10% \u00a0
-0.2 \u00a0
-15.1 \u00a0
0.3 \u00a0
-22.8 \u00a0
-10% \u00a0
0.2 \u00a0
15.1 \u00a0
-0.3 \u00a0
22.8 \u00a0
NOK \u00a0
10% \u00a0
1.1 \u00a0
2.2 \u00a0
0.0 \u00a0
2.6 \u00a0
-10% \u00a0
-1.1 \u00a0
-2.2 \u00a0
0.0 \u00a0
-2.6 \u00a0
USD \u00a0
10% \u00a0
-1.9 \u00a0
-24.5 \u00a0
0.0 \u00a0
-29.4 \u00a0
-10% \u00a0
1.9 \u00a0
24.5 \u00a0
0.0 \u00a0
29.4 \u00a0
CZK \u00a0
10% \u00a0
0.0 \u00a0
0.0 \u00a0
-0.8 \u00a0
-0.4 \u00a0
-10% \u00a0
0.0 \u00a0
0.0 \u00a0
0.8 \u00a0
0.4 \u00a0
PLN \u00a0
10% \u00a0
-1.3 \u00a0
0.0 \u00a0
3.6 \u00a0
0.0 \u00a0
-10% \u00a0
1.3 \u00a0
0.0 \u00a0
-3.6 \u00a0
0.0 \u00a0
CAD \u00a0
10% \u00a0
0.0 \u00a0
-3.6 \u00a0
0.0 \u00a0
-6.2 \u00a0
-10% \u00a0
0.0 \u00a0
3.6 \u00a0
0.0 \u00a0
6.2 \u00a0
Copper \u00a0
10% \u00a0
0.0 \u00a0
50.9 \u00a0
0.0 \u00a0
54.5 \u00a0
-10% \u00a0
0.0 \u00a0
-50.9 \u00a0
0.0 \u00a0
-54.5 \u00a0
Lead \u00a0
10% \u00a0
0.0 \u00a0
2.5 \u00a0
0.0 \u00a0
1.9 \u00a0
-10% \u00a0
0.0 \u00a0
-2.5 \u00a0
0.0 \u00a0
-1.9 \u00a0
Aluminium \u00a0
10% \u00a0
0.0 \u00a0
0.3 \u00a0
0.0 \u00a0
-1.1 \u00a0
-10% \u00a0
0.0 \u00a0
-0.3 \u00a0
0.0 \u00a0
1.1 \u00a0
Gas-oil \u00a0
10% \u00a0
0.0 \u00a0
1.5 \u00a0
0.0 \u00a0
2.3 \u00a0
-10% \u00a0
0.0 \u00a0
-1.5 \u00a0
0.0 \u00a0
-2.3 \u00a0
The table above shows a sensitivity analysis of the exposures in currencies and commodities assuming effective hedge \u00a0
accounting is continued to be applied. The presented effects are from the financial instruments only (all things being \u00a0
equal). When also considering the development of the underlying exposure the future income statement effects, will be \u00a0
fully or partially offset as hedge accounting is applied. \u00a0
Cash flow hedges related to \u00a0
Notional value \u00a0
Notional value \u00a0
Fair value \u00a0
the most significant currencies \u00a0
Average exchange rate1 \u00a0
Local currency in million \u00a0
EURm \u00a0
EURm \u00a0
Local currency \u00a0
31 Dec 2023
31 Dec 2022
31 Dec 2022
31 Dec 2022
31 Dec 2022 \u00a0
31 Dec 2023
31 Dec 2023
31 Dec 2023
SEK2 \u00a0
Buy \u00a0
Less than 1 year \u00a0
0.0901 \u00a0
0.0943 \u00a0
12,911.34 \u00a0
7,661.54 \u00a0
1,163.10 \u00a0
722.30 \u00a0
-3.8 \u00a0
-35.8 \u00a0
More than 1 year \u00a0
0.0895 \u00a0
0.0938 \u00a0
10,595.12 \u00a0
8,963.35 \u00a0
948.57 \u00a0
840.94 \u00a0
2.7 \u00a0
-37.8 \u00a0
Sell \u00a0
Less than 1 year \u00a0
0.0888 \u00a0
0.0926 \u00a0
10,291.22 \u00a0
6,873.45 \u00a0
913.67 \u00a0
636.51 \u00a0
-10.3 \u00a0
20.6 \u00a0
More than 1 year \u00a0
0.0886 \u00a0
0.0940 \u00a0
8,724.97 \u00a0
3,431.63 \u00a0
772.92 \u00a0
322.62 \u00a0
-10.5 \u00a0
15.1 \u00a0
USD \u00a0
Buy \u00a0
Less than 1 year \u00a0
0.9230 \u00a0
0.9410 \u00a0
798.24 \u00a0
562.29 \u00a0
736.78 \u00a0
529.13 \u00a0
-23.4 \u00a0
-9.5 \u00a0
More than 1 year \u00a0
0.9088 \u00a0
0.9486 \u00a0
592.35 \u00a0
281.06 \u00a0
538.31 \u00a0
266.62 \u00a0
-15.7 \u00a0
-10.6 \u00a0
Sell \u00a0
Less than 1 year \u00a0
0.9246 \u00a0
0.9697 \u00a0
882.48 \u00a0
542.51 \u00a0
815.96 \u00a0
526.09 \u00a0
30.6 \u00a0
25.1 \u00a0
More than 1 year \u00a0
0.9142 \u00a0
0.9341 \u00a0
778.72 \u00a0
617.35 \u00a0
711.88 \u00a0
576.67 \u00a0
28.2 \u00a0
15.8 \u00a0
GBP \u00a0
Buy \u00a0
Less than 1 year \u00a0
1.1379 \u00a0
1.1522 \u00a0
125.13 \u00a0
104.12 \u00a0
142.38 \u00a0
119.97 \u00a0
-3.2 \u00a0
-3.3 \u00a0
More than 1 year \u00a0
1.1146 \u00a0
1.1626 \u00a0
195.36 \u00a0
35.24 \u00a0
217.74 \u00a0
40.97 \u00a0
0.9 \u00a0
-1.7 \u00a0
Sell \u00a0
Less than 1 year \u00a0
1.1477 \u00a0
1.1551 \u00a0
250.21 \u00a0
144.55 \u00a0
287.17 \u00a0
166.98 \u00a0
6.3 \u00a0
5.1 \u00a0
More than 1 year \u00a0
1.1410 \u00a0
1.1702 \u00a0
201.26 \u00a0
196.46 \u00a0
229.63 \u00a0
229.90 \u00a0
4.2 \u00a0
9.8 \u00a0
NOK \u00a0
Buy \u00a0
Less than 1 year \u00a0
0.0883 \u00a0
0.0975 \u00a0
310.51 \u00a0
329.04 \u00a0
27.43 \u00a0
32.08 \u00a0
0.2 \u00a0
-1.7 \u00a0
More than 1 year \u00a0
0.0895 \u00a0
0.1028 \u00a0
208.41 \u00a0
151.65 \u00a0
18.66 \u00a0
15.59 \u00a0
-0.2 \u00a0
-1.4 \u00a0
Sell \u00a0
Less than 1 year \u00a0
0.0880 \u00a0
0.1020 \u00a0
159.12 \u00a0
191.14 \u00a0
14.01 \u00a0
19.49 \u00a0
-0.1 \u00a0
1.6 \u00a0
More than 1 year \u00a0
0.0860 \u00a0
0.0988 \u00a0
109.3 \u00a0
14.75 \u00a0
9.4 \u00a0
1.46 \u00a0
-0.3 \u00a0
0.1 \u00a0
CAD \u00a0
Buy \u00a0
Less than 1 year \u00a0
0.6835 \u00a0
0.7137 \u00a0
15.78 \u00a0
24.00 \u00a0
10.79 \u00a0
17.13 \u00a0
0.0 \u00a0
-0.7 \u00a0
More than 1 year \u00a0
9.3 \u00a0
Sell \u00a0
Less than 1 year \u00a0
0.7277 \u00a0
0.7413 \u00a0
68.20 \u00a0
67.96 \u00a0
49.63 \u00a0
50.38 \u00a0
3.7 \u00a0
4.0 \u00a0
More than 1 year \u00a0
0.7500 \u00a0
0.0 \u00a0
45.30 \u00a0
0.0 \u00a0
33.98 \u00a0
0.0 \u00a0
3.4 \u00a0
Cash flow hedges reported as assets \u00a0
106.2 \u00a0
74.5 \u00a0
Cash flow hedges reported as liabilities \u00a0
87.8 \u00a0
76.4 \u00a0
1
Local currency/EUR \u00a0
2
For 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
Raw material price risks primarily relate to metals and \u00a0
plastics used in the cable production. When changes in \u00a0
raw material prices cannot be transferred to customers, \u00a0
NKT uses financial instruments to hedge the price risks. \u00a0
NKT has, due to the larger order backlog, a high amount \u00a0
of raw material derivatives to cover the risks related to the \u00a0
large future purchases of especially copper. Exposures \u00a0
and hedging of current and expected future raw material \u00a0
risks are managed by the businesses based on adopted \u00a0
Group guidelines. Hedging of awarded projects are done \u00a0
at the time of award and adjusted according to changes \u00a0
in production plans. \u00a0
NKT hedges raw materials by purchasing hedging instru- \u00a0
ments on London Metal Exchange via financial counter- \u00a0
parties. Changes in the fair value of the hedging instru- \u00a0
ment should offset changes in the value of the underlying \u00a0
item because the reference prices are the same for the \u00a0
hedging instrument and the hedged item. NKT applies \u00a0
cost of hedging, whereby the forward points are recog- \u00a0
nized in other comprehensive income and transferred with \u00a0
the effective hedge when the hedged transaction occurs. \u00a0
For the hedge of plastic, ineffectiveness will arise as this \u00a0
is hedged via a gas-oil proxy hedge. Ineffectiveness \u00a0
because of differences in the change between gas-oil \u00a0
and plastic are considered insignificant. \u00a0
As at 31 December 2023, NKT A/S had current finan- \u00a0
cial hedging instruments relating to future raw material \u00a0
supplies with a net notional value of EUR 1,083.9m (EUR \u00a0
908.6m in 2022) and a net positive fair value of EUR \u00a0
77.4m (positive value of EUR 170.8m in 2022). \u00a0
Sensitivity to the development (+/- 10%) in raw material \u00a0
prices is presented in the table on page 89. The table to \u00a0
the right provides an overview of the cash flow hedges \u00a0
related to raw materials. \u00a0
Cash flow hedges related to \u00a0
Average rate \u00a0
Notional value \u00a0
Fair value \u00a0
raw materials \u00a0
EUR/ton \u00a0
EURm \u00a0
EURm \u00a0
31 Dec \u00a0
31 Dec \u00a0
31 Dec \u00a0
31 Dec \u00a0
31 Dec \u00a0
31 Dec \u00a0
Commodity \u00a0
2023 \u00a0
2022 \u00a0
2023 \u00a0
2022 \u00a0
2023 \u00a0
2022 \u00a0
Copper \u00a0
Buy \u00a0
Less than 1 year \u00a0
6.652 \u00a0
5.961 \u00a0
578.7 \u00a0
528.6 \u00a0
84.3 \u00a0
169.6 \u00a0
More than 1 year \u00a0
7.915 \u00a0
7.485 \u00a0
253.7 \u00a0
301.2 \u00a0
-13.0 \u00a0
15.6 \u00a0
Sell \u00a0
Less than 1 year \u00a0
7.112 \u00a0
6.421 \u00a0
-69.2 \u00a0
-119.4 \u00a0
5.5 \u00a0
-26.9 \u00a0
More than 1 year \u00a0
Lead \u00a0
Buy \u00a0
Less than 1 year \u00a0
1.903 \u00a0
1.843 \u00a0
25.9 \u00a0
20.0 \u00a0
-0.8 \u00a0
4.0 \u00a0
More than 1 year \u00a0
1.996 \u00a0
1.897 \u00a0
59.1 \u00a0
10.2 \u00a0
-3.0 \u00a0
1.7 \u00a0
Sell \u00a0
Less than 1 year \u00a0
1.804 \u00a0
1.885 \u00a0
-1.0 \u00a0
-3.2 \u00a0
0.0 \u00a0
-0.5 \u00a0
More than 1 year \u00a0
Aluminium \u00a0
Buy \u00a0
Less than 1 year \u00a0
2.051 \u00a0
2.349 \u00a0
9.3 \u00a0
13.3 \u00a0
0.4 \u00a0
-0.8 \u00a0
More than 1 year \u00a0
2.459 \u00a0
39.4 \u00a0
Sell \u00a0
Less than 1 year \u00a0
2.000 \u00a0
2.312 \u00a0
-12.4 \u00a0
-24.9 \u00a0
0.8 \u00a0
1.1 \u00a0
More than 1 year \u00a0
Gas-oil \u00a0
Buy \u00a0
Less than 1 year \u00a0
550 \u00a0
620 \u00a0
18.6 \u00a0
20.4 \u00a0
3.6 \u00a0
5.5 \u00a0
More than 1 year \u00a0
615 \u00a0
613 \u00a0
11.7 \u00a0
13.0 \u00a0
-0.2 \u00a0
1.5 \u00a0
Sell \u00a0
Less than 1 year \u00a0
669 \u00a0
634 \u00a0
-4.0 \u00a0
-2.0 \u00a0
0.0 \u00a0
-0.6 \u00a0
More than 1 year \u00a0
847 \u00a0
847 \u00a0
-1.0 \u00a0
-2.9 \u00a0
-0.3 \u00a0
0.6 \u00a0
Cash flow hedges reported as assets \u00a0
83.9 \u00a0
171.0 \u00a0
Cash flow hedges reported as liabilities \u00a0
6.5 \u00a0
0.2 \u00a0
Cash flow hedge reserve \u00a0
Foreign \u00a0
exchange \u00a0
Interest rate \u00a0
Commodity \u00a0
Amounts in EURm \u00a0
risk hedging \u00a0
risk hedging \u00a0
risk hedging \u00a0
Total \u00a0
Balance at 1 January 2022 \u00a0
-3.3 \u00a0
0.6 \u00a0
184.7 \u00a0
182.0 \u00a0
Gain/(loss) arising from changes in fair value of hedging instruments \u00a0
0.8 \u00a0
6.7 \u00a0
63.9 \u00a0
71.4 \u00a0
(Gain)/loss reclassified to profit or loss - hedged items have affected profit or loss \u00a0
3.0 \u00a0
0.0 \u00a0
-125.8 \u00a0
-122.8 \u00a0
Deferred tax \u00a0
-0.8 \u00a0
-1.5 \u00a0
17.3 \u00a0
15.0 \u00a0
Balance at 31 December 2022 \u00a0
-0.3 \u00a0
5.8 \u00a0
140.1 \u00a0
145.6 \u00a0
Gain/(loss) arising from changes in fair value of hedging instruments \u00a0
22.3 \u00a0
-2.3 \u00a0
30.6 \u00a0
50.6 \u00a0
(Gain)/loss reclassified to profit or loss - hedged items have affected profit or loss \u00a0
-2.4 \u00a0
0.0 \u00a0
-135.0 \u00a0
-137.4 \u00a0
Deferred tax \u00a0
1.4 \u00a0
0.6 \u00a0
26.8 \u00a0
28.8 \u00a0
Balance at 31 December 2023 \u00a0
21.0 \u00a0
4.1 \u00a0
62.5 \u00a0
87.6 \u00a0
Cost of hedging reserve \u00a0
Foreign \u00a0
exchange \u00a0
Interest rate \u00a0
Commodity \u00a0
Amounts in EURm \u00a0
risk hedging \u00a0
risk hedging \u00a0
risk hedging \u00a0
Total \u00a0
Balance at 1 January 2022 \u00a0
-1.0 \u00a0
0.0 \u00a0
-15.2 \u00a0
-16.2 \u00a0
Loss arising from changes in fair value of hedging instruments \u00a0
1.3 \u00a0
0.0 \u00a0
0.4 \u00a0
1.7 \u00a0
Loss reclassified to profit or loss - hedged items have affected profit or loss \u00a0
0.0 \u00a0
0.0 \u00a0
2.9 \u00a0
2.9 \u00a0
Deferred tax \u00a0
-0.3 \u00a0
0.0 \u00a0
-0.8 \u00a0
-1.1 \u00a0
Balance at 31 December 2022 \u00a0
0.0 \u00a0
0.0 \u00a0
-12.7 \u00a0
-12.7 \u00a0
Gain/(loss) arising from changes in fair value of hedging instruments \u00a0
-10.0 \u00a0
0.0 \u00a0
34.8 \u00a0
24.8 \u00a0
(Gain)/loss reclassified to profit or loss - hedged items have affected profit or loss \u00a0
1.1 \u00a0
0.0 \u00a0
-3.8 \u00a0
-2.7 \u00a0
Deferred tax \u00a0
-0.6 \u00a0
0.0 \u00a0
-8.1 \u00a0
-8.7 \u00a0
Balance at 31 December 2023 \u00a0
-9.5 \u00a0
0.0 \u00a0
10.2 \u00a0
0.7 \u00a0
Of the fair values recorded in other comprehensive income, EUR 5.9m is expected to be recorded in Revenue (EUR 0.6m in 2022) and EUR 82.4m (EUR \u00a0
132.3m in 2022) 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": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"fact2345": {
"value": "Accounting policy \u00a0
NKT mainly apply hedge accounting for financial \u00a0
instruments related to currency, raw materials as well \u00a0
as interest rates for loans. The hedges normally hedge \u00a0
the risk one-to-one with the hedged item. Only gas-oil \u00a0
hedges for the hedging of the price risk of plastic differs \u00a0
from this principle, as Group Treasury here determine \u00a0
the ratio necessary to hedge the price risk for plastic. \u00a0
The Group designates the share of the fair value of a \u00a0
forward contract that is related to cash price for metals \u00a0
and spot price for FX hedges (i.e. excluding the forward \u00a0
elements) as the hedging instrument for all of its hedging \u00a0
relationships involving forward contracts. In accordance \u00a0
with the cost of hedging principle all fair values related \u00a0
to the forward element of the hedging contract is recog- \u00a0
nized in other comprehensive income and accumulated \u00a0
in the cost of hedging reserve. As the hedged items are \u00a0
transaction-related, the forward element is reclassified to \u00a0
the profit or loss when the hedged item affects profit or \u00a0
loss, and in the same line item as the hedged item. \u00a0
Fair value changes for cash flow hedges considered \u00a0
effective, are recognized in other comprehensive income \u00a0
in the hedging reserve. For each reporting date, effec- \u00a0
tiveness is considered and if the future cash flows are no \u00a0
longer expected to materialize, the accumulated value \u00a0
reported in the hedge reserve is reclassified to financial \u00a0
items in the income statement. In all other cases the \u00a0
accumulated value is reclassified to the income state- \u00a0
ment in the same line as the hedged item. \u00a0
Accounting policy \u00a0
Fair value changes of financial instruments used to \u00a0
hedge the change in fair value of an asset or liability is \u00a0
recorded in the income statement in the same line item \u00a0
as the changes in value of the hedged asset or liability \u00a0
is recognized in. \u00a0
Hedging of currency risk is not performed for net \u00a0
assets (equity) in foreign subsidiaries. Gains and losses \u00a0
relating to unhedged net assets in foreign subsidiaries \u00a0
are accounted for directly in other comprehensive \u00a0
income. \u00a0
",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForFinancialInstrumentsExplanatory",
"language": "en",
"entity": "scheme:529900197LKWCEQ0NL18",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"fact2348": {
"value": "Accounting policy \u00a0
NKT mainly apply hedge accounting for financial \u00a0
instruments related to currency, raw materials as well \u00a0
as interest rates for loans. The hedges normally hedge \u00a0
the risk one-to-one with the hedged item. Only gas-oil \u00a0
hedges for the hedging of the price risk of plastic differs \u00a0
from this principle, as Group Treasury here determine \u00a0
the ratio necessary to hedge the price risk for plastic. \u00a0
The Group designates the share of the fair value of a \u00a0
forward contract that is related to cash price for metals \u00a0
and spot price for FX hedges (i.e. excluding the forward \u00a0
elements) as the hedging instrument for all of its hedging \u00a0
relationships involving forward contracts. In accordance \u00a0
with the cost of hedging principle all fair values related \u00a0
to the forward element of the hedging contract is recog- \u00a0
nized in other comprehensive income and accumulated \u00a0
in the cost of hedging reserve. As the hedged items are \u00a0
transaction-related, the forward element is reclassified to \u00a0
the profit or loss when the hedged item affects profit or \u00a0
loss, and in the same line item as the hedged item. \u00a0
Fair value changes for cash flow hedges considered \u00a0
effective, are recognized in other comprehensive income \u00a0
in the hedging reserve. For each reporting date, effec- \u00a0
tiveness is considered and if the future cash flows are no \u00a0
longer expected to materialize, the accumulated value \u00a0
reported in the hedge reserve is reclassified to financial \u00a0
items in the income statement. In all other cases the \u00a0
accumulated value is reclassified to the income state- \u00a0
ment in the same line as the hedged item. \u00a0
Accounting policy \u00a0
Fair value changes of financial instruments used to \u00a0
hedge the change in fair value of an asset or liability is \u00a0
recorded in the income statement in the same line item \u00a0
as the changes in value of the hedged asset or liability \u00a0
is recognized in. \u00a0
Hedging of currency risk is not performed for net \u00a0
assets (equity) in foreign subsidiaries. Gains and losses \u00a0
relating to unhedged net assets in foreign subsidiaries \u00a0
are accounted for directly in other comprehensive \u00a0
income. \u00a0
",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForDerivativeFinancialInstrumentsAndHedgingExplanatory",
"language": "en",
"entity": "scheme:529900197LKWCEQ0NL18",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"fact2349": {
"value": "Accounting policy \u00a0
NKT mainly apply hedge accounting for financial \u00a0
instruments related to currency, raw materials as well \u00a0
as interest rates for loans. The hedges normally hedge \u00a0
the risk one-to-one with the hedged item. Only gas-oil \u00a0
hedges for the hedging of the price risk of plastic differs \u00a0
from this principle, as Group Treasury here determine \u00a0
the ratio necessary to hedge the price risk for plastic. \u00a0
The Group designates the share of the fair value of a \u00a0
forward contract that is related to cash price for metals \u00a0
and spot price for FX hedges (i.e. excluding the forward \u00a0
elements) as the hedging instrument for all of its hedging \u00a0
relationships involving forward contracts. In accordance \u00a0
with the cost of hedging principle all fair values related \u00a0
to the forward element of the hedging contract is recog- \u00a0
nized in other comprehensive income and accumulated \u00a0
in the cost of hedging reserve. As the hedged items are \u00a0
transaction-related, the forward element is reclassified to \u00a0
the profit or loss when the hedged item affects profit or \u00a0
loss, and in the same line item as the hedged item. \u00a0
Fair value changes for cash flow hedges considered \u00a0
effective, are recognized in other comprehensive income \u00a0
in the hedging reserve. For each reporting date, effec- \u00a0
tiveness is considered and if the future cash flows are no \u00a0
longer expected to materialize, the accumulated value \u00a0
reported in the hedge reserve is reclassified to financial \u00a0
items in the income statement. In all other cases the \u00a0
accumulated value is reclassified to the income state- \u00a0
ment in the same line as the hedged item. \u00a0
Accounting policy \u00a0
Fair value changes of financial instruments used to \u00a0
hedge the change in fair value of an asset or liability is \u00a0
recorded in the income statement in the same line item \u00a0
as the changes in value of the hedged asset or liability \u00a0
is recognized in. \u00a0
Hedging of currency risk is not performed for net \u00a0
assets (equity) in foreign subsidiaries. Gains and losses \u00a0
relating to unhedged net assets in foreign subsidiaries \u00a0
are accounted for directly in other comprehensive \u00a0
income. \u00a0
",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForDerivativeFinancialInstrumentsExplanatory",
"language": "en",
"entity": "scheme:529900197LKWCEQ0NL18",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"fact2350": {
"value": "Accounting policy \u00a0
NKT mainly apply hedge accounting for financial \u00a0
instruments related to currency, raw materials as well \u00a0
as interest rates for loans. The hedges normally hedge \u00a0
the risk one-to-one with the hedged item. Only gas-oil \u00a0
hedges for the hedging of the price risk of plastic differs \u00a0
from this principle, as Group Treasury here determine \u00a0
the ratio necessary to hedge the price risk for plastic. \u00a0
The Group designates the share of the fair value of a \u00a0
forward contract that is related to cash price for metals \u00a0
and spot price for FX hedges (i.e. excluding the forward \u00a0
elements) as the hedging instrument for all of its hedging \u00a0
relationships involving forward contracts. In accordance \u00a0
with the cost of hedging principle all fair values related \u00a0
to the forward element of the hedging contract is recog- \u00a0
nized in other comprehensive income and accumulated \u00a0
in the cost of hedging reserve. As the hedged items are \u00a0
transaction-related, the forward element is reclassified to \u00a0
the profit or loss when the hedged item affects profit or \u00a0
loss, and in the same line item as the hedged item. \u00a0
Fair value changes for cash flow hedges considered \u00a0
effective, are recognized in other comprehensive income \u00a0
in the hedging reserve. For each reporting date, effec- \u00a0
tiveness is considered and if the future cash flows are no \u00a0
longer expected to materialize, the accumulated value \u00a0
reported in the hedge reserve is reclassified to financial \u00a0
items in the income statement. In all other cases the \u00a0
accumulated value is reclassified to the income state- \u00a0
ment in the same line as the hedged item. \u00a0
Accounting policy \u00a0
Fair value changes of financial instruments used to \u00a0
hedge the change in fair value of an asset or liability is \u00a0
recorded in the income statement in the same line item \u00a0
as the changes in value of the hedged asset or liability \u00a0
is recognized in. \u00a0
Hedging of currency risk is not performed for net \u00a0
assets (equity) in foreign subsidiaries. Gains and losses \u00a0
relating to unhedged net assets in foreign subsidiaries \u00a0
are accounted for directly in other comprehensive \u00a0
income. \u00a0
",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForHedgingExplanatory",
"language": "en",
"entity": "scheme:529900197LKWCEQ0NL18",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"fact2378": {
"value": "Categories of financial instruments \u00a0
Amounts in EURm \u00a0
2023 \u00a0
2022 \u00a0
Financial assets \u00a0
Measured at amortized costs: \u00a0
Receivables \u00a0
339.8 \u00a0
273.2 \u00a0
Contract assets \u00a0
106.9 \u00a0
98.2 \u00a0
Interest bearing receivables \u00a0
0.2 \u00a0
0.2 \u00a0
Cash at bank and in hand \u00a0
887.9 \u00a0
258.5 \u00a0
Measured at fair value \u00a0
through profit /loss: \u00a0
Other investments and \u00a0
receivables \u00a0
0.8 \u00a0
0.8 \u00a0
Derivative financial instruments \u00a0
185.4 \u00a0
249.3 \u00a0
Financial liabilities \u00a0
Measured at amortized costs: \u00a0
Trade payables and other liabilities \u00a0
509.0 \u00a0
502.1 \u00a0
Interest-bearing loans and borrowings \u00a0
207.4 \u00a0
195.8 \u00a0
Measured at fair value \u00a0
through profit /loss: \u00a0
Derivative financial instruments \u00a0
94.3 \u00a0
76.6 \u00a0
In the table above, financial instruments are presented in the categories \u00a0
which determine, how they will be measured in the financial statements. \u00a0
Measuring fair value \u00a0
Financial instruments measured at fair value in the balance sheet are desig- \u00a0
nated as belonging to one of the following three categories (the \u2018fair value \u00a0
hierarchy\u2019): \u00a0
Level 1:
Listed prices (unadjusted) in active markets for identical assets \u00a0
and liabilities \u00a0
Level 2:
Input, other than listed prices on Level 1, which is observable for the \u00a0
asset or liability either directly (as prices) or indirectly (derived from \u00a0
prices) \u00a0
Level 3:
Input for the asset or liability which is not based on observable \u00a0
market data (non-observable input) \u00a0
Financial instruments measured at fair value consist of derivative financial \u00a0
instruments. The fair value at 31 December 2023 and 2022 of NKT Group\u2019s \u00a0
forward transactions are measured in accordance with Level 2 as the fair \u00a0
value is calculated based on official exchange rates and forward rates at the \u00a0
balance sheet date. \u00a0
The fair value of commodity forwards is measured as the present value of \u00a0
future cash flows based on forward rates and official exchange rates at the \u00a0
balance sheet date. The fair value of foreign currency forwards is measured \u00a0
as the present value of future cash flows based on the forward exchange \u00a0
rates at the balance sheet date. \u00a0
No financial instruments were moved from one level to another in the year (no \u00a0
move in 2022 either). \u00a0
",
"dimensions": {
"concept": "ifrs-full:DisclosureOfFairValueOfFinancialInstrumentsExplanatory",
"language": "en",
"entity": "scheme:529900197LKWCEQ0NL18",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"fact2379": {
"value": "Categories of financial instruments \u00a0
Amounts in EURm \u00a0
2023 \u00a0
2022 \u00a0
Financial assets \u00a0
Measured at amortized costs: \u00a0
Receivables \u00a0
339.8 \u00a0
273.2 \u00a0
Contract assets \u00a0
106.9 \u00a0
98.2 \u00a0
Interest bearing receivables \u00a0
0.2 \u00a0
0.2 \u00a0
Cash at bank and in hand \u00a0
887.9 \u00a0
258.5 \u00a0
Measured at fair value \u00a0
through profit /loss: \u00a0
Other investments and \u00a0
receivables \u00a0
0.8 \u00a0
0.8 \u00a0
Derivative financial instruments \u00a0
185.4 \u00a0
249.3 \u00a0
Financial liabilities \u00a0
Measured at amortized costs: \u00a0
Trade payables and other liabilities \u00a0
509.0 \u00a0
502.1 \u00a0
Interest-bearing loans and borrowings \u00a0
207.4 \u00a0
195.8 \u00a0
Measured at fair value \u00a0
through profit /loss: \u00a0
Derivative financial instruments \u00a0
94.3 \u00a0
76.6 \u00a0
In the table above, financial instruments are presented in the categories \u00a0
which determine, how they will be measured in the financial statements. \u00a0
Measuring fair value \u00a0
Financial instruments measured at fair value in the balance sheet are desig- \u00a0
nated as belonging to one of the following three categories (the \u2018fair value \u00a0
hierarchy\u2019): \u00a0
Level 1:
Listed prices (unadjusted) in active markets for identical assets \u00a0
and liabilities \u00a0
Level 2:
Input, other than listed prices on Level 1, which is observable for the \u00a0
asset or liability either directly (as prices) or indirectly (derived from \u00a0
prices) \u00a0
Level 3:
Input for the asset or liability which is not based on observable \u00a0
market data (non-observable input) \u00a0
Financial instruments measured at fair value consist of derivative financial \u00a0
instruments. The fair value at 31 December 2023 and 2022 of NKT Group\u2019s \u00a0
forward transactions are measured in accordance with Level 2 as the fair \u00a0
value is calculated based on official exchange rates and forward rates at the \u00a0
balance sheet date. \u00a0
The fair value of commodity forwards is measured as the present value of \u00a0
future cash flows based on forward rates and official exchange rates at the \u00a0
balance sheet date. The fair value of foreign currency forwards is measured \u00a0
as the present value of future cash flows based on the forward exchange \u00a0
rates at the balance sheet date. \u00a0
No financial instruments were moved from one level to another in the year (no \u00a0
move in 2022 either). \u00a0
",
"dimensions": {
"concept": "ifrs-full:DisclosureOfFairValueMeasurementExplanatory",
"language": "en",
"entity": "scheme:529900197LKWCEQ0NL18",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"fact2399": {
"value": "6.1 Acquisition
and divestment of businesses \u00a0
Amounts in EURm \u00a0
2022 \u00a0
Acquisitions \u00a0
Non-current assets \u00a0
20.9 \u00a0
Current assets \u00a0
6.7 \u00a0
Non-current liabilities \u00a0
-7.3 \u00a0
Current liabilities \u00a0
-3.3 \u00a0
Acquired net assets \u00a0
17.0 \u00a0
Gain on business acquisition \u00a0
-1.2 \u00a0
Purchase price \u00a0
15.8 \u00a0
Acquired cash and cash equivalents \u00a0
-0.1 \u00a0
Cash flow used for acquisition \u00a0
15.7 \u00a0
Acquisitions and Divestments in 2023 \u00a0
No acquisitions or divestments of subsidiaries \u00a0
occurred in 2023. \u00a0
Acquisitions in 2022 \u00a0
On 10 January 2022, NKT acquired 100% of the \u00a0
shares in Ventcroft Ltd, a UK based company. The \u00a0
considerations were transferred in full and there is no \u00a0
contingent considerations. Ventcroft Ltd are special- \u00a0
ized in fire-resistant building wires and low-voltage \u00a0
power cables, and the acquisition was made in order \u00a0
to strengthen the product portfolio and is an important \u00a0
step in the NKT strategy to grow the business. Vent- \u00a0
croft Ltd will be a part of the Applications segment. \u00a0
The acquisition consists of net assets of EUR 17.0m \u00a0
predominantly related to tangible assets and working \u00a0
capital. No intangible assets have been recognized \u00a0
from the acquisition. As the purchase price is below \u00a0
the net asset value, as well as below the equity value of \u00a0
the company at the time of acquisition, a gain of EUR \u00a0
1.2m has been recognized in the Income Statement \u00a0
in the line Other Operating Income. Acquisition-related \u00a0
costs of EUR 0.2m are recognized in Other costs etc. in \u00a0
the income statement of the Applications segment. \u00a0
From the acquisition date to 31 December 2022, Vent- \u00a0
croft Ltd contributed positively to the results with a \u00a0
revenue of EUR 22.2m and a profit of EUR 0.4m. Had the \u00a0
acquisition occurred on 1 January 2022, the impact for \u00a0
the period until 31 December 2022 on revenue and profit \u00a0
would in all material aspects have been similar. \u00a0
Divestments in 2022 \u00a0
On 10 March 2022 NKT Photonics divested its sensing \u00a0
business, LIOS. The proceeds from the sale were EUR \u00a0
19.7m, and the gain was EUR 8.0m, which is recognized \u00a0
in Other operating income in the income statement. The \u00a0
business was a part of the NKT Photonics segment prior \u00a0
to the divestment, and the gain is accordingly included \u00a0
in this segment, why reference is made to note 6.3. \u00a0
Investments in associated companies in 2023 \u00a0
On 22 May 2023, NKT acquired 10% of interest in Walsin \u00a0
Energy Cable System Co., Ltd., a Taiwan based company, \u00a0
for EUR 9.1m with the option to acquire additional interest, \u00a0
why NKT are assessed to have significant influence of the \u00a0
investment. The consideration was transferred in full and \u00a0
there are no contingent considerations. Walsin Energy \u00a0
Cable System Co., Ltd. is a plant under construction that \u00a0
will manufacture high-voltage cables. The acquisition is for \u00a0
a greenfield investment and consequently, the net assets \u00a0
predominantly related to cash and cash equivalents, which \u00a0
will be used to construct the plant. The impact on revenue \u00a0
and profit from the acquisition date to 31 December 2023 \u00a0
is immaterial. \u00a0
No acquisitions of associated companies occured in \u00a0
2022. \u00a0
",
"dimensions": {
"concept": "ifrs-full:DisclosureOfBusinessCombinationsExplanatory",
"language": "en",
"entity": "scheme:529900197LKWCEQ0NL18",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"fact2407": {
"value": "6.2 Group
companies \u00a0
Group companies \u00a0
Domicile \u00a0
NKT Group \u00a0
Denmark \u00a0
NKT Cables Group A/S \u00a0
Denmark \u00a0
NKT (Denmark) A/S \u00a0
Denmark \u00a0
NKT Invest A/S \u00a0
Denmark \u00a0
Europe \u00a0
NKT Group GmbH1 \u00a0
Germany \u00a0
NKT Verwaltungs GmbH \u00a0
Germany \u00a0
NKT GmbH & Co. KG \u00a0
Germany \u00a0
NKT GmbH \u00a0
Germany \u00a0
Zweite NKT GmbH \u00a0
Germany \u00a0
NKT s.r.o. \u00a0
Czech Republic \u00a0
NKT (Ib\u00e9rica) S.L. \u00a0
Spain \u00a0
NKT (Sweden) AB \u00a0
Sweden \u00a0
NKT HV Cables AB \u00a0
Sweden \u00a0
NKT AS \u00a0
Norway \u00a0
NKT HVC AS \u00a0
Norway \u00a0
NKT (U.K.) Ltd. \u00a0
UK \u00a0
NKT HVC Ltd. \u00a0
UK \u00a0
Ventcroft Ltd. \u00a0
UK \u00a0
NKT S.A. \u00a0
Poland \u00a0
NKT HVC B.V. \u00a0
Netherlands \u00a0
NKT HV Cables GmbH \u00a0
Switzerland \u00a0
NKT Lithuania, UAB \u00a0
Lithuania \u00a0
America \u00a0
NKT, Inc \u00a0
US \u00a0
Group companies \u00a0
Domicile \u00a0
Middle East \u00a0
NKT Middle East DMCC \u00a0
Dubai \u00a0
Asia/Pacific \u00a0
NKT Pty Ltd \u00a0
Australia \u00a0
NKT South Asia Private Limited \u00a0
India \u00a0
NKT Operations India Private Limited \u00a0
India \u00a0
Walsin Energy Cable System Co. Ltd2 \u00a0
Taiwan \u00a0
NKT Photonics Group \u00a0
Denmark \u00a0
NKT Photonics A/S \u00a0
Denmark \u00a0
Europe \u00a0
NKT Photonics Technology GmbH \u00a0
Germany \u00a0
Advanced Laserdiode Systems A.L.S. GmbH \u00a0
Germany \u00a0
NKT Photonics Switzerland GmbH \u00a0
Switzerland \u00a0
NKT Photonics Holding Ltd \u00a0
UK \u00a0
NKT Photonics Ltd \u00a0
UK \u00a0
NKT Photonics AB \u00a0
Sweden \u00a0
America \u00a0
NKT Photonics Inc. \u00a0
US \u00a0
Asia/Pacific \u00a0
NKT Photonics (Zhenzhen) Co., Ltd. \u00a0
China \u00a0
Fianium Asia Ltd. \u00a0
Hong Kong \u00a0
All Group companies are wholly owned. \u00a0
Companies without material interest and dormant companies are omitted from the list. \u00a0
1 The Group has applied Section 264 (3) of the German Commercial Code (\u201cHandelsgesetzbuch\u201d) by which NKT Group GmbH is exempted from \u00a0
filing local financial statement. \u00a0
2 The owned share in the entity is 10 %. The entity is treated as an associated company in accordance with IAS 28. \u00a0
",
"dimensions": {
"concept": "ifrs-full:DisclosureOfSignificantInvestmentsInSubsidiariesExplanatory",
"language": "en",
"entity": "scheme:529900197LKWCEQ0NL18",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"fact2408": {
"value": "6.2 Group
companies \u00a0
Group companies \u00a0
Domicile \u00a0
NKT Group \u00a0
Denmark \u00a0
NKT Cables Group A/S \u00a0
Denmark \u00a0
NKT (Denmark) A/S \u00a0
Denmark \u00a0
NKT Invest A/S \u00a0
Denmark \u00a0
Europe \u00a0
NKT Group GmbH1 \u00a0
Germany \u00a0
NKT Verwaltungs GmbH \u00a0
Germany \u00a0
NKT GmbH & Co. KG \u00a0
Germany \u00a0
NKT GmbH \u00a0
Germany \u00a0
Zweite NKT GmbH \u00a0
Germany \u00a0
NKT s.r.o. \u00a0
Czech Republic \u00a0
NKT (Ib\u00e9rica) S.L. \u00a0
Spain \u00a0
NKT (Sweden) AB \u00a0
Sweden \u00a0
NKT HV Cables AB \u00a0
Sweden \u00a0
NKT AS \u00a0
Norway \u00a0
NKT HVC AS \u00a0
Norway \u00a0
NKT (U.K.) Ltd. \u00a0
UK \u00a0
NKT HVC Ltd. \u00a0
UK \u00a0
Ventcroft Ltd. \u00a0
UK \u00a0
NKT S.A. \u00a0
Poland \u00a0
NKT HVC B.V. \u00a0
Netherlands \u00a0
NKT HV Cables GmbH \u00a0
Switzerland \u00a0
NKT Lithuania, UAB \u00a0
Lithuania \u00a0
America \u00a0
NKT, Inc \u00a0
US \u00a0
Group companies \u00a0
Domicile \u00a0
Middle East \u00a0
NKT Middle East DMCC \u00a0
Dubai \u00a0
Asia/Pacific \u00a0
NKT Pty Ltd \u00a0
Australia \u00a0
NKT South Asia Private Limited \u00a0
India \u00a0
NKT Operations India Private Limited \u00a0
India \u00a0
Walsin Energy Cable System Co. Ltd2 \u00a0
Taiwan \u00a0
NKT Photonics Group \u00a0
Denmark \u00a0
NKT Photonics A/S \u00a0
Denmark \u00a0
Europe \u00a0
NKT Photonics Technology GmbH \u00a0
Germany \u00a0
Advanced Laserdiode Systems A.L.S. GmbH \u00a0
Germany \u00a0
NKT Photonics Switzerland GmbH \u00a0
Switzerland \u00a0
NKT Photonics Holding Ltd \u00a0
UK \u00a0
NKT Photonics Ltd \u00a0
UK \u00a0
NKT Photonics AB \u00a0
Sweden \u00a0
America \u00a0
NKT Photonics Inc. \u00a0
US \u00a0
Asia/Pacific \u00a0
NKT Photonics (Zhenzhen) Co., Ltd. \u00a0
China \u00a0
Fianium Asia Ltd. \u00a0
Hong Kong \u00a0
All Group companies are wholly owned. \u00a0
Companies without material interest and dormant companies are omitted from the list. \u00a0
1 The Group has applied Section 264 (3) of the German Commercial Code (\u201cHandelsgesetzbuch\u201d) by which NKT Group GmbH is exempted from \u00a0
filing local financial statement. \u00a0
2 The owned share in the entity is 10 %. The entity is treated as an associated company in accordance with IAS 28. \u00a0
",
"dimensions": {
"concept": "ifrs-full:DisclosureOfCompositionOfGroupExplanatory",
"language": "en",
"entity": "scheme:529900197LKWCEQ0NL18",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"fact2415": {
"value": "6.3 Discontinued
operations and assets held for sale \u00a0
Amounts in EURm \u00a0
2023 \u00a0
2022 \u00a0
Profit for the year \u2013 discontinued \u00a0
operations \u00a0
Revenue \u00a0
88.1 \u00a0
86.5 \u00a0
Costs and other income, net \u00a0
-80.8 \u00a0
-79.9 \u00a0
Gain from sale of business \u00a0
0.0 \u00a0
8.0 \u00a0
Earnings before interest, tax, \u00a0
depreciation and amortization (EBITDA) \u00a0
7.3 \u00a0
14.6 \u00a0
Depreciation and amortization \u00a0
0.0 \u00a0
-6.6 \u00a0
Earnings before interest and tax (EBIT) \u00a0
7.3 \u00a0
8.0 \u00a0
Financial items, net \u00a0
-1.0 \u00a0
0.1 \u00a0
Earnings before tax (EBT) \u00a0
6.3 \u00a0
8.1 \u00a0
Tax \u00a0
-0.7 \u00a0
-0.8 \u00a0
Net result - discontinued operations \u00a0
5.6 \u00a0
7.3 \u00a0
NKT' share hereof \u00a0
5.6 \u00a0
7.3 \u00a0
Basic earnings - discontinued operations, \u00a0
EUR, per share (EPS) \u00a0
0.1 \u00a0
0.2 \u00a0
Diluted earnings - discuntinued operations, \u00a0
EUR, per share (EPS-D) \u00a0
0.1 \u00a0
0.2 \u00a0
Earnings before interest, tax, \u00a0
depreciation and amortization (EBITDA) \u00a0
7.3 \u00a0
14.6 \u00a0
One-off items \u00a0
0.0 \u00a0
5.8 \u00a0
Operational EBITDA \u00a0
7.3 \u00a0
8.8 \u00a0
One-off items for discontinued operations in 2022 comprise costs asso- \u00a0
ciated with the divestment of EUR 2.2m and the accounting gain of EUR \u00a0
8.0m related to the divestment of the LIOS sensing business recognized in \u00a0
Q1 2022. \u00a0
Amounts in EURm \u00a0
2023 \u00a0
2022 \u00a0
Cash flows from discontinued operations \u00a0
Cash flow from operating activities \u00a0
4.0 \u00a0
-16.0 \u00a0
Cash flow from investing activities \u00a0
-15.6 \u00a0
2.5 \u00a0
Cash flow from financing activities \u00a0
10.3 \u00a0
21.5 \u00a0
Net cash flow from discontinued \u00a0
operations \u00a0
-1.3 \u00a0
8.0 \u00a0
Balance sheet items \u00a0
Non-current assets \u00a0
119.2 \u00a0
100.7 \u00a0
Current assets \u00a0
58.2 \u00a0
63.4 \u00a0
Assets held for sale \u00a0
177.4 \u00a0
164.1 \u00a0
Non-current liabilities \u00a0
17.5 \u00a0
13.2 \u00a0
Current liabilities \u00a0
20.1 \u00a0
22.4 \u00a0
Liabilities associated with assets \u00a0
held for sale \u00a0
37.6 \u00a0
35.6 \u00a0
Intangible assets held for sale in 2023 related to NKT Photonics amount \u00a0
to EUR 80.0m (EUR 69.7m) and property, plant and equipment amount to \u00a0
EUR 24.2m (EUR 30.7m). In connection with the classification to discon- \u00a0
tinued operations and assets held for sale no impairment was recognized. \u00a0
Accounting policy \u00a0
Discontinued operations represent a separate major line of businesses \u00a0
intended to be disposed within 12 months. The results of discontinued \u00a0
operations are presented separately in the income statement and the cash \u00a0
flow statement with restatement of comparative figures. \u00a0
Assets and liabilities held for sale from discontinued operations are \u00a0
presented as separate items in the balance sheet with no restatement of \u00a0
comparative figures. Elimination between continuing and discontinued \u00a0
operations is presented to reflect continuing operations as post-separation, \u00a0
which includes elimination of interest and loans. \u00a0
Assets and liabilities from discontinued operations and assets held for sale \u00a0
are measured at the lower of carrying amount and fair value less cost of \u00a0
disposal. Impairment test is performed immediately before classification \u00a0
as held for sale. Non-current assets held for sale are not depreciated or \u00a0
amortized. \u00a0
",
"dimensions": {
"concept": "ifrs-full:DisclosureOfNoncurrentAssetsHeldForSaleAndDiscontinuedOperationsExplanatory",
"language": "en",
"entity": "scheme:529900197LKWCEQ0NL18",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"fact2421": {
"value": "Accounting policy \u00a0
Discontinued operations represent a separate major line of businesses \u00a0
intended to be disposed within 12 months. The results of discontinued \u00a0
operations are presented separately in the income statement and the cash \u00a0
flow statement with restatement of comparative figures. \u00a0
Assets and liabilities held for sale from discontinued operations are \u00a0
presented as separate items in the balance sheet with no restatement of \u00a0
comparative figures. Elimination between continuing and discontinued \u00a0
operations is presented to reflect continuing operations as post-separation, \u00a0
which includes elimination of interest and loans. \u00a0
Assets and liabilities from discontinued operations and assets held for sale \u00a0
are measured at the lower of carrying amount and fair value less cost of \u00a0
disposal. Impairment test is performed immediately before classification \u00a0
as held for sale. Non-current assets held for sale are not depreciated or \u00a0
amortized. \u00a0
",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForNoncurrentAssetsOrDisposalGroupsClassifiedAsHeldForSaleAndDiscontinuedOperationsExplanatory",
"language": "en",
"entity": "scheme:529900197LKWCEQ0NL18",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"fact2426": {
"value": "7.1 Fees
to the auditor elected at \u00a0
the Annual General Meeting \u00a0
Amounts in EURm \u00a0
2023 \u00a0
2022 \u00a0
PwC (Deloitte in 2022): \u00a0
Statutory audit \u00a0
0.9 \u00a0
1.2 \u00a0
Other assurance \u00a0
0.4 \u00a0
0.0 \u00a0
Other service \u00a0
0.3 \u00a0
0.0 \u00a0
Total \u00a0
1.6 \u00a0
1.2 \u00a0
Non-audit services provided by PwC Denmark during 2023 amounted to \u00a0
EUR 0.6m, relating to tax advice, cyber security, comfort- and bringdown \u00a0
letters in connection with capital raise and other accounting and advisory \u00a0
services. \u00a0
",
"dimensions": {
"concept": "ifrs-full:DisclosureOfAuditorsRemunerationExplanatory",
"language": "en",
"entity": "scheme:529900197LKWCEQ0NL18",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"fact2428": {
"value": "7.3 Contingent
assets and liabilities \u00a0
and pledges \u00a0
NKT Group is a party to various disputes and inquiries from authorities \u00a0
whose outcome is not expected to materially affect profit for the year and \u00a0
the financial position. In connection with disposal of companies in previous \u00a0
years, guarantees have been provided which are not expected to mate- \u00a0
rially affect net result. Further, NKT Group is a party to various insurance \u00a0
claims as well as customer claims whose outcome is still uncertain and \u00a0
not recognized in the financial statement at the balance sheet day. Finally, \u00a0
NKT Group is from time to time party to inquires from public authorities \u00a0
and others related to competition laws and regulations. It is the opinion \u00a0
of Management that, apart from items recognized in the financial state- \u00a0
ments, it is associated with a high degree of uncertainty to assess how the \u00a0
outcome of any of these inspections may affect NKT Group's business, \u00a0
financial conditions and results of operations. NKT Group does not expect \u00a0
these to have material impact on the financial statements. \u00a0
NKT Group is jointly liable for Danish corporate taxes on dividend, interest \u00a0
and royalties together with Nilfisk up until the demerger in October 2017. \u00a0
In a few cases the NKT Group\u2019s foreign companies are subject to special \u00a0
tax schemes to which certain conditions are attached. As at 31 December \u00a0
2023 these conditions were complied with. \u00a0
Guarantees \u00a0
As part of our commercial activities NKT Group has provided guarantees \u00a0
mainly relating to high-voltage projects, which is to cover for the risk relating \u00a0
to our performance inherent in such projects, the quality and delays. \u00a0
At 31 December 2023 the value of issued guarantees was EUR \u00a0
1,901.1m (EUR 1,231.2m in 2022). At the balance sheet date none \u00a0
of the issued guarantees are expected to materialize. \u00a0
Pledges \u00a0
Non-current assets with carrying amount of EUR 526.3m (EUR 388.0m \u00a0
in 2022) have been pledged as security for mortgage loans of total EUR \u00a0
140.3m (EUR 146.0m in 2022). \u00a0
Amounts in EUR \u00a0
2023 \u00a0
2022 \u00a0
Carrying amount of assets pledged \u00a0
as collateral for credit institutions: \u00a0
Land and buildings \u00a0
243.0 \u00a0
197.0 \u00a0
Plant and machinery \u00a0
131.0 \u00a0
50.9 \u00a0
Property, plant and equipment under \u00a0
construction \u00a0
152.3 \u00a0
140.1 \u00a0
Total \u00a0
526.3 \u00a0
388.0 \u00a0
Liabilities related to pledged assets \u00a0
140.3 \u00a0
146.0 \u00a0
Significant estimates and judgements \u00a0
Disclosures for contingent assets and liabilities and when they must be \u00a0
recognized is derived from evaluations of the expected outcome of the \u00a0
individual issues. These evaluations are based on legal opinions of the \u00a0
agreements contracted, which in significant instances also include opinions \u00a0
obtained from external advisors, including lawyers. \u00a0
",
"dimensions": {
"concept": "ifrs-full:DisclosureOfContingentLiabilitiesExplanatory",
"language": "en",
"entity": "scheme:529900197LKWCEQ0NL18",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"fact2429": {
"value": "7.3 Contingent
assets and liabilities \u00a0
and pledges \u00a0
NKT Group is a party to various disputes and inquiries from authorities \u00a0
whose outcome is not expected to materially affect profit for the year and \u00a0
the financial position. In connection with disposal of companies in previous \u00a0
years, guarantees have been provided which are not expected to mate- \u00a0
rially affect net result. Further, NKT Group is a party to various insurance \u00a0
claims as well as customer claims whose outcome is still uncertain and \u00a0
not recognized in the financial statement at the balance sheet day. Finally, \u00a0
NKT Group is from time to time party to inquires from public authorities \u00a0
and others related to competition laws and regulations. It is the opinion \u00a0
of Management that, apart from items recognized in the financial state- \u00a0
ments, it is associated with a high degree of uncertainty to assess how the \u00a0
outcome of any of these inspections may affect NKT Group's business, \u00a0
financial conditions and results of operations. NKT Group does not expect \u00a0
these to have material impact on the financial statements. \u00a0
NKT Group is jointly liable for Danish corporate taxes on dividend, interest \u00a0
and royalties together with Nilfisk up until the demerger in October 2017. \u00a0
In a few cases the NKT Group\u2019s foreign companies are subject to special \u00a0
tax schemes to which certain conditions are attached. As at 31 December \u00a0
2023 these conditions were complied with. \u00a0
Guarantees \u00a0
As part of our commercial activities NKT Group has provided guarantees \u00a0
mainly relating to high-voltage projects, which is to cover for the risk relating \u00a0
to our performance inherent in such projects, the quality and delays. \u00a0
At 31 December 2023 the value of issued guarantees was EUR \u00a0
1,901.1m (EUR 1,231.2m in 2022). At the balance sheet date none \u00a0
of the issued guarantees are expected to materialize. \u00a0
Pledges \u00a0
Non-current assets with carrying amount of EUR 526.3m (EUR 388.0m \u00a0
in 2022) have been pledged as security for mortgage loans of total EUR \u00a0
140.3m (EUR 146.0m in 2022). \u00a0
Amounts in EUR \u00a0
2023 \u00a0
2022 \u00a0
Carrying amount of assets pledged \u00a0
as collateral for credit institutions: \u00a0
Land and buildings \u00a0
243.0 \u00a0
197.0 \u00a0
Plant and machinery \u00a0
131.0 \u00a0
50.9 \u00a0
Property, plant and equipment under \u00a0
construction \u00a0
152.3 \u00a0
140.1 \u00a0
Total \u00a0
526.3 \u00a0
388.0 \u00a0
Liabilities related to pledged assets \u00a0
140.3 \u00a0
146.0 \u00a0
Significant estimates and judgements \u00a0
Disclosures for contingent assets and liabilities and when they must be \u00a0
recognized is derived from evaluations of the expected outcome of the \u00a0
individual issues. These evaluations are based on legal opinions of the \u00a0
agreements contracted, which in significant instances also include opinions \u00a0
obtained from external advisors, including lawyers. \u00a0
",
"dimensions": {
"concept": "ifrs-full:DisclosureOfOtherProvisionsContingentLiabilitiesAndContingentAssetsExplanatory",
"language": "en",
"entity": "scheme:529900197LKWCEQ0NL18",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"fact2430": {
"value": "7.3 Contingent
assets and liabilities \u00a0
and pledges \u00a0
NKT Group is a party to various disputes and inquiries from authorities \u00a0
whose outcome is not expected to materially affect profit for the year and \u00a0
the financial position. In connection with disposal of companies in previous \u00a0
years, guarantees have been provided which are not expected to mate- \u00a0
rially affect net result. Further, NKT Group is a party to various insurance \u00a0
claims as well as customer claims whose outcome is still uncertain and \u00a0
not recognized in the financial statement at the balance sheet day. Finally, \u00a0
NKT Group is from time to time party to inquires from public authorities \u00a0
and others related to competition laws and regulations. It is the opinion \u00a0
of Management that, apart from items recognized in the financial state- \u00a0
ments, it is associated with a high degree of uncertainty to assess how the \u00a0
outcome of any of these inspections may affect NKT Group's business, \u00a0
financial conditions and results of operations. NKT Group does not expect \u00a0
these to have material impact on the financial statements. \u00a0
NKT Group is jointly liable for Danish corporate taxes on dividend, interest \u00a0
and royalties together with Nilfisk up until the demerger in October 2017. \u00a0
In a few cases the NKT Group\u2019s foreign companies are subject to special \u00a0
tax schemes to which certain conditions are attached. As at 31 December \u00a0
2023 these conditions were complied with. \u00a0
Guarantees \u00a0
As part of our commercial activities NKT Group has provided guarantees \u00a0
mainly relating to high-voltage projects, which is to cover for the risk relating \u00a0
to our performance inherent in such projects, the quality and delays. \u00a0
At 31 December 2023 the value of issued guarantees was EUR \u00a0
1,901.1m (EUR 1,231.2m in 2022). At the balance sheet date none \u00a0
of the issued guarantees are expected to materialize. \u00a0
Pledges \u00a0
Non-current assets with carrying amount of EUR 526.3m (EUR 388.0m \u00a0
in 2022) have been pledged as security for mortgage loans of total EUR \u00a0
140.3m (EUR 146.0m in 2022). \u00a0
Amounts in EUR \u00a0
2023 \u00a0
2022 \u00a0
Carrying amount of assets pledged \u00a0
as collateral for credit institutions: \u00a0
Land and buildings \u00a0
243.0 \u00a0
197.0 \u00a0
Plant and machinery \u00a0
131.0 \u00a0
50.9 \u00a0
Property, plant and equipment under \u00a0
construction \u00a0
152.3 \u00a0
140.1 \u00a0
Total \u00a0
526.3 \u00a0
388.0 \u00a0
Liabilities related to pledged assets \u00a0
140.3 \u00a0
146.0 \u00a0
Significant estimates and judgements \u00a0
Disclosures for contingent assets and liabilities and when they must be \u00a0
recognized is derived from evaluations of the expected outcome of the \u00a0
individual issues. These evaluations are based on legal opinions of the \u00a0
agreements contracted, which in significant instances also include opinions \u00a0
obtained from external advisors, including lawyers. \u00a0
",
"dimensions": {
"concept": "ifrs-full:DisclosureOfCommitmentsAndContingentLiabilitiesExplanatory",
"language": "en",
"entity": "scheme:529900197LKWCEQ0NL18",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"fact2431": {
"value": "7.3 Contingent
assets and liabilities \u00a0
and pledges \u00a0
NKT Group is a party to various disputes and inquiries from authorities \u00a0
whose outcome is not expected to materially affect profit for the year and \u00a0
the financial position. In connection with disposal of companies in previous \u00a0
years, guarantees have been provided which are not expected to mate- \u00a0
rially affect net result. Further, NKT Group is a party to various insurance \u00a0
claims as well as customer claims whose outcome is still uncertain and \u00a0
not recognized in the financial statement at the balance sheet day. Finally, \u00a0
NKT Group is from time to time party to inquires from public authorities \u00a0
and others related to competition laws and regulations. It is the opinion \u00a0
of Management that, apart from items recognized in the financial state- \u00a0
ments, it is associated with a high degree of uncertainty to assess how the \u00a0
outcome of any of these inspections may affect NKT Group's business, \u00a0
financial conditions and results of operations. NKT Group does not expect \u00a0
these to have material impact on the financial statements. \u00a0
NKT Group is jointly liable for Danish corporate taxes on dividend, interest \u00a0
and royalties together with Nilfisk up until the demerger in October 2017. \u00a0
In a few cases the NKT Group\u2019s foreign companies are subject to special \u00a0
tax schemes to which certain conditions are attached. As at 31 December \u00a0
2023 these conditions were complied with. \u00a0
Guarantees \u00a0
As part of our commercial activities NKT Group has provided guarantees \u00a0
mainly relating to high-voltage projects, which is to cover for the risk relating \u00a0
to our performance inherent in such projects, the quality and delays. \u00a0
At 31 December 2023 the value of issued guarantees was EUR \u00a0
1,901.1m (EUR 1,231.2m in 2022). At the balance sheet date none \u00a0
of the issued guarantees are expected to materialize. \u00a0
Pledges \u00a0
Non-current assets with carrying amount of EUR 526.3m (EUR 388.0m \u00a0
in 2022) have been pledged as security for mortgage loans of total EUR \u00a0
140.3m (EUR 146.0m in 2022). \u00a0
Amounts in EUR \u00a0
2023 \u00a0
2022 \u00a0
Carrying amount of assets pledged \u00a0
as collateral for credit institutions: \u00a0
Land and buildings \u00a0
243.0 \u00a0
197.0 \u00a0
Plant and machinery \u00a0
131.0 \u00a0
50.9 \u00a0
Property, plant and equipment under \u00a0
construction \u00a0
152.3 \u00a0
140.1 \u00a0
Total \u00a0
526.3 \u00a0
388.0 \u00a0
Liabilities related to pledged assets \u00a0
140.3 \u00a0
146.0 \u00a0
Significant estimates and judgements \u00a0
Disclosures for contingent assets and liabilities and when they must be \u00a0
recognized is derived from evaluations of the expected outcome of the \u00a0
individual issues. These evaluations are based on legal opinions of the \u00a0
agreements contracted, which in significant instances also include opinions \u00a0
obtained from external advisors, including lawyers. \u00a0
",
"dimensions": {
"concept": "ifrs-full:DisclosureOfCommitmentsExplanatory",
"language": "en",
"entity": "scheme:529900197LKWCEQ0NL18",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"fact2435": {
"value": "Pledges \u00a0
Non-current assets with carrying amount of EUR 526.3m (EUR 388.0m \u00a0
in 2022) have been pledged as security for mortgage loans of total EUR \u00a0
140.3m (EUR 146.0m in 2022). \u00a0
Amounts in EUR \u00a0
2023 \u00a0
2022 \u00a0
Carrying amount of assets pledged \u00a0
as collateral for credit institutions: \u00a0
Land and buildings \u00a0
243.0 \u00a0
197.0 \u00a0
Plant and machinery \u00a0
131.0 \u00a0
50.9 \u00a0
Property, plant and equipment under \u00a0
construction \u00a0
152.3 \u00a0
140.1 \u00a0
Total \u00a0
526.3 \u00a0
388.0 \u00a0
Liabilities related to pledged assets \u00a0
140.3 \u00a0
146.0 \u00a0
",
"dimensions": {
"concept": "ifrs-full:DisclosureOfCollateralExplanatory",
"language": "en",
"entity": "scheme:529900197LKWCEQ0NL18",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"fact2427": {
"value": "7.2 Events
after the balance sheet date \u00a0
Management is not aware of any subsequent matters that could be of \u00a0
material importance to NKT Group\u2019s financial position. \u00a0
",
"dimensions": {
"concept": "ifrs-full:DisclosureOfEventsAfterReportingPeriodExplanatory",
"language": "en",
"entity": "scheme:529900197LKWCEQ0NL18",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"fact2445": {
"value": "A/S",
"dimensions": {
"concept": "ifrs-full:LegalFormOfEntity",
"language": "en",
"entity": "scheme:529900197LKWCEQ0NL18",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"fact1577": {
"value": "NKT A/S",
"dimensions": {
"concept": "ifrs-full:NameOfReportingEntityOrOtherMeansOfIdentification",
"language": "en",
"entity": "scheme:529900197LKWCEQ0NL18",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"fact1578": {
"value": "Vibeholms All\u00e9 20 DK-2605 Br\u00f8ndby",
"dimensions": {
"concept": "ifrs-full:AddressOfRegisteredOfficeOfEntity",
"language": "en",
"entity": "scheme:529900197LKWCEQ0NL18",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"fact1580": {
"value": "Denmark",
"dimensions": {
"concept": "ifrs-full:DomicileOfEntity",
"language": "en",
"entity": "scheme:529900197LKWCEQ0NL18",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"fact1581": {
"value": "Denmark",
"dimensions": {
"concept": "ifrs-full:CountryOfIncorporation",
"language": "en",
"entity": "scheme:529900197LKWCEQ0NL18",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"fact1582": {
"value": "Denmark",
"dimensions": {
"concept": "ifrs-full:PrincipalPlaceOfBusiness",
"language": "en",
"entity": "scheme:529900197LKWCEQ0NL18",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
}
}
}