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"fact1871": {
"value": "1. Basis of preparation \u00a0
Measurement basis \u00a0
The consolidated financial statements have been \u00a0
prepared under the historical cost convention. \u00a0
The accounting policies set out below have been \u00a0
applied consistently in the preparation of the \u00a0
consolidated financial statements for all the years \u00a0
presented. \u00a0
Accounting policies \u00a0
Considering all the accounting policies applied, \u00a0
Management regards the following as the most \u00a0
significant accounting policies for the recognition \u00a0
and measurement of reported amounts: \u00a0
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1.1 Summary
of significant accounting policies \u00a0
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adopted by the EU and further requirements in the \u00a0
Danish financial statements Act. The Consolidated \u00a0
Financial Statements are prepared in accordance \u00a0
with IFRS standards and interpretations applicable \u00a0
to the 2023 financial year. \u00a0
Changes to comparative figures \u00a0
In connection with the preparation of the Consol- \u00a0
idated Financial Statements for 2023, corrections \u00a0
to the comparative figures have been made. The \u00a0
corrections are not considered having any material \u00a0
impact on NNIT's financial position nor in relation to \u00a0
either income statement or equity. \u00a0
Change in allocation of cost by function \u00a0
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comparative figures for 2022 have been adjusted \u00a0
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below: \u00a0
2022 \u00a0
2022 \u00a0
Before \u00a0
After \u00a0
adjust- \u00a0
Adjust- \u00a0
adjust- \u00a0
DKK million \u00a0
ment \u00a0
ment \u00a0
ment \u00a0
Cost of \u00a0
goods sold \u00a0
1,349 \u00a0
(257) \u00a0
1,092 \u00a0
Sales and \u00a0
marketing \u00a0
costs \u00a0
81 \u00a0
13 \u00a0
94 \u00a0
Admin- \u00a0
istrative \u00a0
expenses \u00a0
77 \u00a0
244 \u00a0
321 \u00a0
Total \u00a0
1,507 \u00a0
0
1,507 \u00a0
The above illustration shows 2022 original figures, \u00a0
adjustment and 2022 adjusted figures, which is \u00a0
presented in the financial statement for 2023. \u00a0
Measurement basis \u00a0
The consolidated financial statements have been \u00a0
prepared under the historical cost convention. \u00a0
The accounting policies set out below have been \u00a0
applied consistently in the preparation of the \u00a0
consolidated financial statements for all the years \u00a0
presented. \u00a0
Accounting policies \u00a0
Considering all the accounting policies applied, \u00a0
Management regards the following as the most \u00a0
significant accounting policies for the recognition \u00a0
and measurement of reported amounts: \u00a0
Recognition of revenue \u00a0
Revenue is the fair value of the transaction price \u00a0
or receivable from the sale of our services and \u00a0
customized IT applications and is the gross sales \u00a0
price less VAT and any price reductions in the form \u00a0
of discounts and rebates. \u00a0
Revenue can be recognized over time or at a point \u00a0
in time. \u00a0
Revenue is recognized over time when an asset on \u00a0
behalf of a customer is created with no alternative \u00a0
use and NNIT has an enforceable right to payment \u00a0
for performance completed year to date, or the \u00a0
customer obtains control of a service and thus has \u00a0
the ability to direct the use and obtain the benefit \u00a0
from the service. \u00a0
NNIT has two different types of businesses 'projects' \u00a0
and 'Service Level agreements' (SLA) where revenue \u00a0
recognition is treated differently. Refer to note 1.4 \u00a0
General accounting policies for further details. \u00a0
Projects \u00a0
The project business is characterized by being \u00a0
deliveries which in nature are negotiated contracts \u00a0
based on consumption and typically comprise advi- \u00a0
sory, design and development activities. Revenue \u00a0
will be recognized over time, as the 'no alternative \u00a0
use' criteria's are met, using 'the percentage of \u00a0
completion method'. \u00a0
For fixed priced projects the proportion of revenue \u00a0
to be recognized in a particular period is calcu- \u00a0
lated according to the percentage of completion \u00a0
of the project. For most contracts this is meas- \u00a0
ured by reference to the costs of performing the \u00a0
contract incurred up to the relevant balance sheet \u00a0
date as a percentage of the total estimated costs \u00a0
of performing the contract. Reference to cost is \u00a0
assessed to be the most appropriate method as \u00a0
incurred hours are the value driver for the projects. \u00a0
The sales value agreed in the contract is recognized \u00a0
over the contract period using above method. \u00a0
For time-and material contracts, we recognize \u00a0
revenue as performance takes place based on \u00a0
actual hours incurred. \u00a0
Contracts where the recognized revenue from \u00a0
the work performed exceeds progress billings are \u00a0
recognized as 'work in progress' in the balance \u00a0
sheet under assets. \u00a0
Contracts for which progress billings exceed the \u00a0
revenue are recognized as 'prepayments received' \u00a0
under liabilities. \u00a0
If it is likely that the total costs in relation to a long- \u00a0
term contract will exceed the total revenue on a \u00a0
specific project, the expected loss is recognized \u00a0
immediately in the income statement in the current \u00a0
period. \u00a0
NNIT has applied relevant new or amended stand- \u00a0
ards (IFRS) and interpretations (IFRIC) as applied by \u00a0
the EU and which are effective for the financial year 1 \u00a0
January \u2013 31 December 2023. NNIT has assessed that \u00a0
the new or amended standards and interpretations \u00a0
have not had any material impact on NNIT\u2019s Annual \u00a0
Report in 2023. \u00a0
New Segment Reporting \u00a0
Segment performance is evaluated on the basis of \u00a0
the operating profit consistent with the consolidated \u00a0
financial statements. \u00a0
Operating segments are reported in a manner \u00a0
consistent with the internal reporting provided to \u00a0
Group Management and the Board of Directors. \u00a0
After the completion of the transformative divest- \u00a0
ment of the Group\u2019s infrastructure business, \u00a0
NNIT has changed its financial reporting format to \u00a0
reflect its new regional organization and to ensure \u00a0
consistency with internal reporting. Refer to note 2.1 \u00a0
Segment Information for further details. \u00a0
1.4 General
accounting policies \u00a0
Principles of consolidation \u00a0
The consolidated financial statements include the \u00a0
financial statements of NNIT A/S (parent company) \u00a0
and entities over which the Group has control. \u00a0
The Group controls an entity when the Group is \u00a0
exposed to, or has rights to, variable returns from \u00a0
its involvement with the entity and has the ability \u00a0
to affect those returns through its power over the \u00a0
entity. NNIT A/S and its subsidiaries are collectively \u00a0
referred to as the Group. \u00a0
The consolidated financial statements are based on \u00a0
the financial statements of the Parent Company and \u00a0
the subsidiaries, and are prepared by combining \u00a0
items of a similar nature and eliminating intercom- \u00a0
pany transactions, shareholdings, balances and \u00a0
unrealized intercompany profits and losses. The \u00a0
consolidated financial statements are based on \u00a0
financial statements of Group companies prepared \u00a0
in accordance with the Group\u2019s accounting policies. \u00a0
Other accounting policies \u00a0
Continuing and Discontinued operations \u00a0
Separation of operations into continuing and \u00a0
discontinued operations is based on an identifica- \u00a0
tion of contracts and revenues, direct employees \u00a0
and costs as well as identification of time spend \u00a0
by employees in one category related to the other. \u00a0
Shared costs are split based on allocation between \u00a0
the two categories based on estimates future split. \u00a0
An impairment loss is recognised for any initial or \u00a0
subsequent write-down of the asset to fair value \u00a0
less costs to sell. A gain is recognised for any subse- \u00a0
quent increases in fair value previously recognised. \u00a0
A gain or loss not previously recognised by the date \u00a0
of the sale of the non-current asset is recognised at \u00a0
the date of derecognition. \u00a0
Acquisition of subsidiaries \u00a0
On acquisition of subsidiaries, the acquisition \u00a0
method is applied, and identifiable assets and liabil- \u00a0
ities are recognized and generally measured at fair \u00a0
value at the date control was achieved. \u00a0
Identifiable intangible assets are recognized if they \u00a0
can be separated, and the fair value can be reliably \u00a0
measured. Deferred tax on revaluations is recog- \u00a0
nized. \u00a0
Any positive differences between fair value of \u00a0
consideration transferred and fair value of net \u00a0
assets acquired on acquisition of subsidiaries are \u00a0
recognized as goodwill. Consideration transferred \u00a0
consists of shares, contingent consideration as well \u00a0
as cash and cash equivalents. \u00a0
Goodwill is not amortized but is tested annually for \u00a0
impairment. \u00a0
Transactions costs are recognized as operating \u00a0
costs as they have incurred. \u00a0
If the initial accounting for business combination \u00a0
can be determined only preliminary by the end of \u00a0
the period in which the combination is affected, \u00a0
adjustments made to the provisional fair value of \u00a0
acquired net assets or cost of the acquisition within \u00a0
12 months of the acquisition date are adjusted to \u00a0
the initial goodwill. \u00a0
Acquired entities are recognized in the consoli- \u00a0
dated financial statements at the date control was \u00a0
achieved. \u00a0
Translation of foreign currency \u00a0
Functional currency and presentation currency \u00a0
The financial statement items for each of the \u00a0
Group\u2019s entities are measured in the currency used \u00a0
in the economic environment in which the entity \u00a0
operates (functional currency). \u00a0
The consolidated financial statements are \u00a0
presented in Danish kroner (DKK). \u00a0
Transactions and balance sheet \u00a0
Transactions in foreign currencies within the year \u00a0
are translated into the functional currency at the \u00a0
exchange rate at the transaction date. Receivables \u00a0
and liabilities in foreign currencies that have not \u00a0
been settled at the balance sheet date are trans- \u00a0
lated at the exchange rate at the balance sheet date. \u00a0
Realized and unrealized exchange rate adjustments \u00a0
are recognized in the income statement under \u00a0
\u201cfinancial income and expenses\u201d. \u00a0
Currency translation for foreign operations in the \u00a0
financial statements of foreign subsidiaries' balance \u00a0
sheet items are translated to Danish kroner (DKK) \u00a0
at the exchange rate at the balance sheet date, and \u00a0
income statement items are translated using the \u00a0
average exchange rate. \u00a0
Exchange differences arising from: \u00a0
\u2022
the translation of subsidiaries\u2019 net assets at the \u00a0
beginning of the financial year at exchange rates \u00a0
at the balance sheet date and \u00a0
\u2022
the translation of subsidiaries\u2019 income statements \u00a0
at exchange rates at the balance sheet date \u00a0
\u2022
exchange rate adjustments of loans, which are \u00a0
seen as part of the net investment in foreign \u00a0
subsidiaries \u00a0
are recognized in \u2018exchange rate adjustments\u2019 in \u00a0
other comprehensive income and presented in a \u00a0
separate reserve within equity. \u00a0
Costs \u00a0
Cost of goods sold \u00a0
The cost of goods sold comprises costs paid in \u00a0
order to generate revenue for the year, including \u00a0
amortization and depreciation, share-based \u00a0
compensation and salaries. \u00a0
Sales and marketing costs \u00a0
Sales and marketing costs comprise costs in the \u00a0
form of salaries and share-based compensation for \u00a0
sales and marketing staff, advertising costs, and \u00a0
amortization and depreciation. \u00a0
Administrative expenses \u00a0
Administrative expenses comprise costs in the \u00a0
form of share-based compensation and salaries for \u00a0
administrative staff and amortization and depreci- \u00a0
ation. \u00a0
Special Items \u00a0
Special items comprise costs or income that cannot \u00a0
be attributed directly to the Group\u2019s ordinary activ- \u00a0
ities and are non-recurring of nature. Such costs \u00a0
and income include the cost related to significant \u00a0
restructuring of the cost base and processes as \u00a0
well as restructuring costs related to resignation of \u00a0
employees. Further special items include significant \u00a0
cost related to M&A activities, redundancy cost \u00a0
related to members of Group Management, impair- \u00a0
ment of assets and gains and losses regarding \u00a0
disposal of activities or subsidiaries. \u00a0
Special items are shown separately in the Group to \u00a0
give a true and fair presentation of the Group\u2019s ordi- \u00a0
nary operations. \u00a0
Financial items \u00a0
Financial income and expenses comprise interest, \u00a0
realized and unrealized gains and losses from \u00a0
exchange rate adjustments, fair value adjustments \u00a0
on forward contracts and the cumulative value \u00a0
adjustment of these instruments transferred from \u00a0
the hedging reserve within equity. \u00a0
Interest income is recognized on an accrual basis \u00a0
according to the effective interest rate method. \u00a0
Tax \u00a0
Income tax comprises current tax and deferred \u00a0
tax for the year, and is recognized as follows: The \u00a0
amount that can be allocated to the net profit for \u00a0
the year is recognized in the income statement, and \u00a0
the amount that relates to items recognized in other \u00a0
comprehensive income and/or equity respectively \u00a0
is recognized in other comprehensive income and/ \u00a0
or equity. \u00a0
Deferred tax is measured according to the balance \u00a0
sheet-based liability method on all temporary differ- \u00a0
ences between the carrying amount and tax base of \u00a0
assets and liabilities. \u00a0
Deferred tax assets are recognized in the balance \u00a0
sheet under non-current assets. \u00a0
Deferred tax liabilities are recognized in the balance \u00a0
sheet under non-current liabilities. \u00a0
Deferred tax is measured on the basis of the tax \u00a0
rules and tax rates that according to current legis- \u00a0
lation at the balance sheet date will apply at the \u00a0
time of the expected realization of the deferred \u00a0
tax asset or settlement of the deferred tax liability. \u00a0
Any changes to deferred tax caused by changes in \u00a0
statutory tax rates are recognized in the income \u00a0
statement. \u00a0
For Danish tax purposes, NNIT A/S and SCALES A/S \u00a0
is assessed jointly with the Novo Group. Income tax \u00a0
is allocated between the companies in proportion to \u00a0
their taxable incomes (full allocation with compen- \u00a0
sation concerning tax losses). The jointly assessed \u00a0
companies are included in the Tax Prepayment \u00a0
Scheme. \u00a0
Service Level Agreements (SLA) \u00a0
The SLA business comprise infrastructure and appli- \u00a0
cation outsourcing services and requires the perfor- \u00a0
mance of certain performance obligations typically \u00a0
defined as service levels. As described below under \u00a0
\u201cOutsourcing contracts\u201d, the revenue under an \u00a0
outsourcing contract will be recognized over time. \u00a0
Outsourcing contracts \u00a0
Outsourcing contracts consist of two activities, \u00a0
preparatory project (such as transition and transfor- \u00a0
mation) and operation of the IT systems e.g. applica- \u00a0
tion, servers and infrastructure. These identifiable \u00a0
components are accounted for differently to reflect \u00a0
the substance of the transaction. \u00a0
The total contract value of the outsourcing \u00a0
contracts will be split into the different perfor- \u00a0
mance obligations depending on the activities to be \u00a0
delivered. NNIT will profit align between the perfor- \u00a0
mance obligations within the contract (expected \u00a0
cost plus margin approach). \u00a0
Transition \u00a0
Transition is: \u00a0
\u2022
Basic transfer of services and responsibilities \u00a0
\u2022
The minimum activities required that enable the \u00a0
delivery organization to take over operation of \u00a0
the current or similar services for the customer. \u00a0
The transition phase takes place in the period between \u00a0
contract signing and service start up (operation). \u00a0
Activities performed in the transition phase do not \u00a0
transfer services to the customer as they are seen as \u00a0
\u2018start-up\u2019 costs and therefore revenue cannot be recog- \u00a0
nized as the activities are performed but will be recog- \u00a0
nized over the operation period. Cost regarding the \u00a0
transition projects is capitalized and depreciated over \u00a0
the contract period. Please refer to \u2018Transition cost\u2019. \u00a0
Any prepayments received regarding transition \u00a0
projects will be recognized as revenue over the \u00a0
operation period. \u00a0
Transformation \u00a0
Transformation is: \u00a0
\u2022
A significant change to future state of the subject. \u00a0
\u2022
The full set of activities required for the delivery \u00a0
organization to provide the future state operation \u00a0
of services to the customer. \u00a0
These activities transfer services to the customer as \u00a0
performed. \u00a0
The transformation phase typically starts after the \u00a0
successful completion of transition and ends when \u00a0
the environment has reached the agreed future \u00a0
state. In some circumstances the transformation \u00a0
phase will take place in parallel with the transition \u00a0
phase. \u00a0
Revenue regarding transformation projects is \u00a0
recognized over time as an asset is created with no \u00a0
alternative use and NNIT has an enforceable right \u00a0
to payment and revenue recognition in nature is \u00a0
similar to the project business. \u00a0
Operation of IT systems \u00a0
Revenue from the operation of IT systems is \u00a0
recognized in the period in which the outsourcing \u00a0
services are provided based on amounts billable \u00a0
to a customer (for fixed price components in the \u00a0
contract, revenue is typically recognized on a \u00a0
straight-line basis over the course of a year, while for \u00a0
variable components revenue is recognized based \u00a0
on usage of units, and price lists according to the \u00a0
contract). \u00a0
Intangible assets \u00a0
Goodwill \u00a0
Goodwill arising from business combinations \u00a0
is recognized and measured as the difference \u00a0
between the total of the fair value of the considera- \u00a0
tion transferred compared to the fair value of identi- \u00a0
fiable net assets on the date of acquisition. \u00a0
Goodwill is not amortized, but the carrying amount \u00a0
is tested at relevant cash generating unit level \u00a0
(CGU-level) for impairment once a year. \u00a0
Goodwill is written down to its recoverable amount \u00a0
through the income statement if lower than the \u00a0
carrying amount. \u00a0
The recoverable amount is determined as the \u00a0
present value of the discounted future net cash \u00a0
flow from the activities goodwill relates to. In calcu- \u00a0
lating the present value, discount rates are applied \u00a0
reflecting the riskfree interest rate with the addition \u00a0
of risks relating to the individual CGU. \u00a0
IT development projects \u00a0
IT development projects are clearly specified and \u00a0
identifiable projects under development for internal \u00a0
and external use for which the technical feasibility \u00a0
of completing the development project has been \u00a0
demonstrated and resources are available within \u00a0
NNIT. \u00a0
Any development projects that do not meet the \u00a0
criteria for capitalization in the balance sheet are \u00a0
recognized as costs. \u00a0
Development costs meeting the criteria for capital- \u00a0
iztion are measured at cost less accumulated amor- \u00a0
tization and any impairment losses. Development \u00a0
costs include salaries, amortization and deprecia- \u00a0
tion and other costs that can be directly attributed \u00a0
to NNIT development activities. \u00a0
Development costs recognized in the balance sheet \u00a0
are amortized from completion of the development \u00a0
using the straight-line method, over the period the \u00a0
asset is expected to generate economic benefits. \u00a0
Straight-line amortization over the expected useful \u00a0
life of the asset: \u00a0
\u2022
IT projects: 5-10 years \u00a0
Intangible assets that are in use and subject to \u00a0
amortization are tested for impairment whenever \u00a0
events or changes in circumstances indicate that the \u00a0
carrying amount may not be recoverable. Factors \u00a0
that could trigger an impairment test include \u00a0
changes in the economic lifes of similar assets or \u00a0
the relationship with other intangible assets or \u00a0
tangible assets. \u00a0
Intangible assets under construction are tested for \u00a0
impairment once a year. \u00a0
If the carrying amount of intangible assets exceeds \u00a0
the recoverable amount based upon the above indi- \u00a0
cators of impairment, any impairment loss is meas- \u00a0
ured based on discounted future cash flows. \u00a0
Tangible assets \u00a0
Tangible fixed assets are measured at cost less \u00a0
accumulated depreciation and any impairment \u00a0
losses. \u00a0
Cost price includes the purchase price and costs \u00a0
relating directly to the purchase. Subsequent costs \u00a0
are either included in the carrying amount of the \u00a0
asset or recognized as a separate asset, where \u00a0
there are likely future economic benefits for the \u00a0
Group and the value of the asset can be reliably \u00a0
measured. \u00a0
The depreciable amount of the assets is depreciated \u00a0
on a straight-line basis over the following estimated \u00a0
useful life periods: \u00a0
\u2022
Other equipment: 3-10 years \u00a0
\u2022
Leasehold improvements: 5-10 years \u00a0
\u2022
Buildings: 10-50 years \u00a0
Major components of buildings which are expected \u00a0
to be replaced with regular intervals during the life \u00a0
of the building are treated as separated compo- \u00a0
nents of the building and are depreciated over the \u00a0
period until expected replacement. \u00a0
Asset residual values and useful life's are assessed \u00a0
and, where required, adjusted on each balance \u00a0
sheet date. \u00a0
Tangible assets are tested for impairment if \u00a0
there are indications of impairment. The carrying \u00a0
amount of an asset is written down to its recover- \u00a0
able amount if the carrying amount exceeds the \u00a0
estimated recoverable amount. The recoverable \u00a0
amount for the asset is determined as the higher \u00a0
of fair value less costs to sell and net present value \u00a0
of future net cash flows from continued use. If the \u00a0
recoverable amount of an individual asset cannot \u00a0
be determined, value in use is determined for the \u00a0
smallest group of assets for which it is possible to \u00a0
determine a recoverable amount. Impairment losses \u00a0
are recognized in the income statement under the \u00a0
relevant functional areas. \u00a0
Depreciation and gains or losses from disposal of \u00a0
tangible assets are recognized in the income state- \u00a0
ment under cost of goods sold, sale and marketing \u00a0
costs and administrative expenses respectively. \u00a0
Lease assets \u00a0
Lease assets are 'right-of-use assets' arising \u00a0
from a lease agreement. Lease assets are initially \u00a0
measured at cost consisting of the amount of the \u00a0
initial measurement of the lease liability, plus any \u00a0
lease payments made to the lessor at or before \u00a0
the commencement date less any lease incentives \u00a0
received and the initial estimate of refurbishment \u00a0
costs and any initial directs costs incurred by NNIT \u00a0
as the lessee. \u00a0
NNIT has three different types of leases: \u00a0
\u2022
Rental of premises \u00a0
\u2022
IT equipment \u00a0
\u2022
Company cars \u00a0
The lease assets are depreciated on a straight-line \u00a0
basis over the lease term. The lease asset can be \u00a0
adjusted due to modifications to the lease agree- \u00a0
ment or reassessment of lease term. \u00a0
Payments associated with short-term leases and \u00a0
leases of low-value assets are recognized on a \u00a0
straight-line basis as an expense in profit or loss. \u00a0
Short-term leases are leases with a term of 12 \u00a0
months or less. Low-value assets comprise IT-equip- \u00a0
ment and small items of office furniture with a value \u00a0
below DKK 100 thousand. \u00a0
Subleases \u00a0
NNIT has entered into arrangements to sublease \u00a0
part of the Group's property lease agreement, while \u00a0
NNIT retains the primary obligation under the orig- \u00a0
inal lease. NNIT acts as such both the lessee and \u00a0
lessor of the same underlying asset. \u00a0
If a part of the Group's property is subleased under \u00a0
terms transferring substantially all remaining risks \u00a0
and rewards under the head lease to the lessee in \u00a0
the sublease, the right-of-use asset is derecognised, \u00a0
and a lease receivable is recognised at an amount \u00a0
equal to the net investment in the lease. Gain/loss \u00a0
on the derecognised right-of-use asset is recognised \u00a0
in the income statement as special items. \u00a0
During the term of the sublease, the receivable is \u00a0
adjusted based on a pattern reflecting a constant \u00a0
periodic rate of return on the net investment in the \u00a0
lease. \u00a0
Transition cost \u00a0
Transition cost consists of cost regarding transition \u00a0
projects, which has been capitalized until operation \u00a0
begins. The cost mainly relates to employee cost \u00a0
and will be amortized over the operation period. \u00a0
Inventories \u00a0
Goods for resale are measured at the lower of cost \u00a0
and net realizable value. \u00a0
Trade receivables \u00a0
Trade receivables are initially recognized at fair value \u00a0
and subsequently measured at amortized cost using \u00a0
the effective interest method, less allowance for \u00a0
doubtful trade receivables. \u00a0
Allowance for doubtful trade receivables is made \u00a0
using the expected credit loss model, which uses a \u00a0
lifetime expected loss allowance for all trade receiv- \u00a0
ables. \u00a0
The allowance is deducted from the carrying \u00a0
amount of trade receivables and the amount of the \u00a0
loss is recognized in the income statement under \u00a0
cost of goods sold. \u00a0
Work in progress \u00a0
The determination of the percentage of completion \u00a0
of work in progress related to fixed price projects is \u00a0
based on estimates of future costs, hours and mate- \u00a0
rials. Each project is unique in their design. Manage- \u00a0
ment makes judgements on individual assessments \u00a0
of specific projects and their associated risk from \u00a0
the on-going monitoring, to identify any deviations \u00a0
from estimates. \u00a0
Adjustments to cost estimates may be made peri- \u00a0
odically following management review, which may \u00a0
result in a re-assessment of the percentage of \u00a0
completion as of the date of review. Such changes \u00a0
result in revisions to revenue attributable to work \u00a0
performed up until the date of revision. The effect \u00a0
of such changes in estimates is recognized as a \u00a0
change to revenue in the period in which the revi- \u00a0
sions are determined. \u00a0
Other receivables and prepayments \u00a0
Current receivables \u00a0
Current receivables are measured at amortized cost \u00a0
less potential write-downs for impairment losses. \u00a0
Write-downs are based on individual assessments \u00a0
of each debtor. \u00a0
Prepayments \u00a0
Prepayments comprise costs incurred for the next \u00a0
financial year. These are usually prepayments for \u00a0
maintenance of hardware and software licenses. \u00a0
Assets classified as held for sale \u00a0
Assets classified as held for sale comprise assets \u00a0
and liabilities for which it is highly likely that the \u00a0
value will be recovered through a sale within 12 \u00a0
months rather than through continued use. Assets \u00a0
and liabilities classified as held for sale are meas- \u00a0
ured at the lower of the carrying amount and fair \u00a0
value less cost to sell at the classification date as \u00a0
\u201cheld for sale\u201d. Assets held for sale are not depre- \u00a0
ciated. Impairment losses arising on first classifi- \u00a0
cation as \u201cheld for sale\u201d and gains and losses from \u00a0
the subsequent measurement is recognized in the \u00a0
income statement under the items they concern. \u00a0
On 22 June 2022 the Board of Directors announced \u00a0
its decision to divest its Hybrid Cloud Solutions busi- \u00a0
ness unit as well as select parts of its Cloud & Digital \u00a0
Solutions business unit to funds advised by Agilitas \u00a0
Private Equity LLP. The associated assets and liabil- \u00a0
ities have been evaluated at year end and found \u00a0
eligible for the carve out and presented as held for \u00a0
sale in the 2022 financial statements. \u00a0
Equity \u00a0
Treasury shares \u00a0
Treasury shares are deducted from equity. Acqui- \u00a0
sition/disposal of treasury shares are recognized \u00a0
directly in equity. \u00a0
Dividend \u00a0
Dividend distribution to the shareholders of NNIT \u00a0
is recognized as a liability when dividends are \u00a0
declared. Proposed dividends are disclosed in the \u00a0
statement of changes in equity. \u00a0
Lease liabilities \u00a0
Lease liabilities arise from a lease agreement. Lease \u00a0
liabilities are initially equal to the present value of \u00a0
the lease payments during the lease term that are \u00a0
not yet paid. \u00a0
At initial recognition NNIT assess each contract \u00a0
individually to assess the likelihood of exercising \u00a0
a potential extension option in the contract. \u00a0
The option to extend the contract period will be \u00a0
included in the calculation of the lease liability if \u00a0
it is reasonably certain that NNIT will exercise the \u00a0
option. \u00a0
When calculating the net present value NNIT has \u00a0
used a discount rate corresponding to the incre- \u00a0
mental borrowing rate. \u00a0
The lease liability is remeasured when changes \u00a0
occur due to modifications to the contract (exten- \u00a0
sion, termination etc.) or indexation. \u00a0
Employee benefits \u00a0
Wages, salaries, social security contributions, paid \u00a0
annual leave and sick leave, bonuses and non-mon- \u00a0
etary benefits are recognized in the financial year in \u00a0
which the NNIT employee provided the related work \u00a0
service. \u00a0
Contingent Consideration Agreement \u00a0
The contingent consideration for Excellis Health \u00a0
Solutions, SL Controls and Prime4Services is \u00a0
accrued over the period from the acquisition \u00a0
date until the payment is based on expected \u00a0
achieved performance conditioned on employment \u00a0
(projected unit credit method). The cost is recog- \u00a0
nized as wages and salaries under special items in \u00a0
the income statement. \u00a0
Pensions \u00a0
NNIT operates a number of defined-contribution \u00a0
pension plans. The costs of these pension plans are \u00a0
recognized in the financial year in which the relevant \u00a0
NNIT employees provided the related service. \u00a0
In some countries NNIT operates defined-benefit \u00a0
plans. Such liabilities are measured at the present \u00a0
value of the expected payments related to benefits \u00a0
accrued at the balance sheet date less the fair value \u00a0
of plan assets by applying the projected unit credit \u00a0
method. Plan assets, if any, are measured at fair \u00a0
value and offset against the defined benefit obli- \u00a0
gation in the balance sheet. Service costs and the \u00a0
interest component are recognized in the income \u00a0
statement. Actuarial gains and losses are recog- \u00a0
nized in other comprehensive income in the period \u00a0
in which they occur. Settlements are immediately \u00a0
recognized in the income statement. \u00a0
Long-term incentive and retention programs \u00a0
NNIT has two different share-based incentive \u00a0
programs; long-term incentive program (LTIP) and \u00a0
retention program (RP). \u00a0
Long-term incentive program (LTIP) \u00a0
Group Management and the Vice President Group \u00a0
are part of a long-term share-based incentive \u00a0
program (LTIP). \u00a0
Under the program, NNIT allocates shares based on \u00a0
operating profit and free cash flow. \u00a0
LTIP \u00a0
The participants receive NNIT shares. The shares \u00a0
are subject to a lock-up period of four years. \u00a0
NNIT has the obligation to deliver treasury shares, \u00a0
and accordingly, the arrangement is classified as \u00a0
an equitysettled arrangement and will be charged \u00a0
to the income statement over the four-year vesting \u00a0
period based on the market price at the grant date. \u00a0
Provisions \u00a0
Provisions are recognized when NNIT has a legal or \u00a0
constructive obligation arising from past events, it \u00a0
is probable that the Company will have to draw on \u00a0
its financial resources to settle the liability, and the \u00a0
liability can be reliably estimated. \u00a0
Provisions in the case of NNIT consist mainly of \u00a0
refurbishment obligations. \u00a0
Provision for refurbishment obligation \u00a0
This refers to refurbishment obligations regarding \u00a0
NNIT's lease agreements for rental of premises. \u00a0
Trade payables \u00a0
Trade payables are measured at amortized cost. \u00a0
Other current liabilities \u00a0
Other current liabilities comprise accrued expenses \u00a0
and VAT. \u00a0
Cash flow statement \u00a0
The cash flow statement is prepared using the \u00a0
indirect method. The cash flow statement shows \u00a0
the cash flows for the year, divided into operating, \u00a0
investing and financing activities, and how these \u00a0
cash flows have affected the cash position for \u00a0
the year. \u00a0
Cash flow from operating activities \u00a0
Cash flows from operating activities are calculated \u00a0
as the net profit for the year, adjusted for non-cash \u00a0
operating items. These include amortization, depre- \u00a0
ciation and write-downs, share-based compen- \u00a0
sation, change in net working capital and interest \u00a0
received and paid. \u00a0
Cash flow from investing activities \u00a0
Cash flows from investing activities comprise cash \u00a0
flows from the purchase and sale of intangible, \u00a0
tangible and financial non-current assets and the \u00a0
purchase and sale of securities. Further including \u00a0
aqusition of subsidaries. \u00a0
Cash flow from financing activities \u00a0
Cash flows from financing activities comprise cash \u00a0
flows from raising and repaying long-term debt, \u00a0
dividend payments to shareholders, instalments on \u00a0
lease liabilities and credit facilities. \u00a0
Cash and cash equivalents \u00a0
Cash and cash equivalents include cash and \u00a0
deposits. \u00a0
The cash flow statement cannot be derived from the \u00a0
annual report alone. \u00a0
1.5 Financial
definitions \u00a0
Operating profit margin \u00a0
=
Operating profit x 100 \u00a0
Revenue \u00a0
Gross profit margin \u00a0
=
Gross profit x 100 \u00a0
Revenue \u00a0
Revenue growth \u00a0
=
(Revenue current year - revenue prior year) x 100 \u00a0
Revenue prior year \u00a0
Return on equity \u00a0
=
Net profit after tax x 100 \u00a0
Average equity \u00a0
Dividend per share for the year \u00a0
=
Proposed dividend \u00a0
The number of outstanding shares \u00a0
Return on invested capital (ROIC) \u00a0
=
Net profit ex. financials x 100 \u00a0
Average invested capital 1 \u00a0
EBITDA margin \u00a0
=
Operating profit + depreciation and amortization \u00a0
Revenue \u00a0
Solvency ratio \u00a0
=
Equity \u00a0
Total assets \u00a0
Effective tax rate \u00a0
=
Tax \u00a0
Profit before tax \u00a0
1\ua880Average\ua881invested\ua881capital\ua881is\ua881calculated\ua881excluding\ua881cash\ua881and\ua881cash\ua881equivalents,\ua881shares\ua881and\ua881non-interest\ua881bearing\ua881debt. \u00a0
The above key ratios have been prepared in accordance with the guidelines issued by the Danish Finance \u00a0
Society. \u00a0
Non-IFRS financial measures \u00a0
In the Annual Report, NNIT discloses certain finan- \u00a0
cial measures of the Group's financial performance, \u00a0
financial position and cash flows that reflect adjust- \u00a0
ments to the most directly comparable measures \u00a0
calculated and presented in accordance with IFRS. \u00a0
These non-IFRS financial measures may not be \u00a0
defined and calculated by other companies in the \u00a0
same manner and may thus not be comparable with \u00a0
such measures. \u00a0
The non-IFRS financial measures presented in the \u00a0
Annual Report are: \u00a0
\u2022 Special items \u00a0
\u2022 Financial resources at the end of the year \u00a0
\u2022 Free cash flow \u00a0
\u2022 Organic growth \u00a0
Special items \u00a0
Special items comprise costs or income that cannot \u00a0
be attributed directly to the Group\u2019s ordinary activ- \u00a0
ities and are non-recurring of nature. Such costs \u00a0
and income include the cost related to significant \u00a0
restructuring of the cost base and processes as \u00a0
well as restructuring costs related to resignation \u00a0
of employees. Further special items include signif- \u00a0
icant cost related to M&A activities, redundancy \u00a0
cost related to members of Group Management, \u00a0
impairment of assets, gains from subleases and \u00a0
gains and losses regarding disposal of activities or \u00a0
subsidiaries. \u00a0
Special items are shown separately from the \u00a0
Group\u2019s ordinary operations to facilitate a better \u00a0
understanding of the Group\u2019s financial perfor- \u00a0
mance. \u00a0
Interest-bearing debt, net \u00a0
Equals interest bearing debt, including lease liabili- \u00a0
ties less cash. \u00a0
Financial resources at the end of the year \u00a0
Financial resources at the end of the year are \u00a0
defined as the sum of cash and cash equivalents at \u00a0
the end of the year and undrawn committed credit \u00a0
facilities. \u00a0
Free cash flow \u00a0
NNIT defines free cash flow as \u2018net cash generated \u00a0
from operating activities less net cash used in \u00a0
investing activities\u2019. \u00a0
Organic growth \u00a0
Expansion of operations from own (internally gener- \u00a0
ated) resources, without growth from acquisition of \u00a0
other companies and without currency effect. \u00a0
",
"dimensions": {
"concept": "ifrs-full:DisclosureOfMaterialAccountingPolicyInformationExplanatory",
"language": "en",
"entity": "scheme:549300KM8QVF7WR40664",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"fact1874": {
"value": "The consolidated financial statements are prepared \u00a0
in accordance with IFRS Accounting Standards as \u00a0
adopted by the EU and further requirements in the \u00a0
Danish financial statements Act. The Consolidated \u00a0
Financial Statements are prepared in accordance \u00a0
with IFRS standards and interpretations applicable \u00a0
to the 2023 financial year. \u00a0
",
"dimensions": {
"concept": "ifrs-full:StatementOfIFRSCompliance",
"language": "en",
"entity": "scheme:549300KM8QVF7WR40664",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"fact1889": {
"value": "Recognition of revenue \u00a0
Revenue is the fair value of the transaction price \u00a0
or receivable from the sale of our services and \u00a0
customized IT applications and is the gross sales \u00a0
price less VAT and any price reductions in the form \u00a0
of discounts and rebates. \u00a0
Revenue can be recognized over time or at a point \u00a0
in time. \u00a0
Revenue is recognized over time when an asset on \u00a0
behalf of a customer is created with no alternative \u00a0
use and NNIT has an enforceable right to payment \u00a0
for performance completed year to date, or the \u00a0
customer obtains control of a service and thus has \u00a0
the ability to direct the use and obtain the benefit \u00a0
from the service. \u00a0
NNIT has two different types of businesses 'projects' \u00a0
and 'Service Level agreements' (SLA) where revenue \u00a0
recognition is treated differently. Refer to note 1.4 \u00a0
General accounting policies for further details. \u00a0
Projects \u00a0
The project business is characterized by being \u00a0
deliveries which in nature are negotiated contracts \u00a0
based on consumption and typically comprise advi- \u00a0
sory, design and development activities. Revenue \u00a0
will be recognized over time, as the 'no alternative \u00a0
use' criteria's are met, using 'the percentage of \u00a0
completion method'. \u00a0
For fixed priced projects the proportion of revenue \u00a0
to be recognized in a particular period is calcu- \u00a0
lated according to the percentage of completion \u00a0
of the project. For most contracts this is meas- \u00a0
ured by reference to the costs of performing the \u00a0
contract incurred up to the relevant balance sheet \u00a0
date as a percentage of the total estimated costs \u00a0
of performing the contract. Reference to cost is \u00a0
assessed to be the most appropriate method as \u00a0
incurred hours are the value driver for the projects. \u00a0
The sales value agreed in the contract is recognized \u00a0
over the contract period using above method. \u00a0
For time-and material contracts, we recognize \u00a0
revenue as performance takes place based on \u00a0
actual hours incurred. \u00a0
Contracts where the recognized revenue from \u00a0
the work performed exceeds progress billings are \u00a0
recognized as 'work in progress' in the balance \u00a0
sheet under assets. \u00a0
Contracts for which progress billings exceed the \u00a0
revenue are recognized as 'prepayments received' \u00a0
under liabilities. \u00a0
If it is likely that the total costs in relation to a long- \u00a0
term contract will exceed the total revenue on a \u00a0
specific project, the expected loss is recognized \u00a0
immediately in the income statement in the current \u00a0
period. \u00a0
Service Level Agreements (SLA) \u00a0
The SLA business comprise infrastructure and appli- \u00a0
cation outsourcing services and requires the perfor- \u00a0
mance of certain performance obligations typically \u00a0
defined as service levels. As described below under \u00a0
\u201cOutsourcing contracts\u201d, the revenue under an \u00a0
outsourcing contract will be recognized over time. \u00a0
Outsourcing contracts \u00a0
Outsourcing contracts consist of two activities, \u00a0
preparatory project (such as transition and transfor- \u00a0
mation) and operation of the IT systems e.g. applica- \u00a0
tion, servers and infrastructure. These identifiable \u00a0
components are accounted for differently to reflect \u00a0
the substance of the transaction. \u00a0
The total contract value of the outsourcing \u00a0
contracts will be split into the different perfor- \u00a0
mance obligations depending on the activities to be \u00a0
delivered. NNIT will profit align between the perfor- \u00a0
mance obligations within the contract (expected \u00a0
cost plus margin approach). \u00a0
Transition \u00a0
Transition is: \u00a0
\u2022
Basic transfer of services and responsibilities \u00a0
\u2022
The minimum activities required that enable the \u00a0
delivery organization to take over operation of \u00a0
the current or similar services for the customer. \u00a0
The transition phase takes place in the period between \u00a0
contract signing and service start up (operation). \u00a0
Activities performed in the transition phase do not \u00a0
transfer services to the customer as they are seen as \u00a0
\u2018start-up\u2019 costs and therefore revenue cannot be recog- \u00a0
nized as the activities are performed but will be recog- \u00a0
nized over the operation period. Cost regarding the \u00a0
transition projects is capitalized and depreciated over \u00a0
the contract period. Please refer to \u2018Transition cost\u2019. \u00a0
Any prepayments received regarding transition \u00a0
projects will be recognized as revenue over the \u00a0
operation period. \u00a0
Transformation \u00a0
Transformation is: \u00a0
\u2022
A significant change to future state of the subject. \u00a0
\u2022
The full set of activities required for the delivery \u00a0
organization to provide the future state operation \u00a0
of services to the customer. \u00a0
These activities transfer services to the customer as \u00a0
performed. \u00a0
The transformation phase typically starts after the \u00a0
successful completion of transition and ends when \u00a0
the environment has reached the agreed future \u00a0
state. In some circumstances the transformation \u00a0
phase will take place in parallel with the transition \u00a0
phase. \u00a0
Revenue regarding transformation projects is \u00a0
recognized over time as an asset is created with no \u00a0
alternative use and NNIT has an enforceable right \u00a0
to payment and revenue recognition in nature is \u00a0
similar to the project business. \u00a0
Operation of IT systems \u00a0
Revenue from the operation of IT systems is \u00a0
recognized in the period in which the outsourcing \u00a0
services are provided based on amounts billable \u00a0
to a customer (for fixed price components in the \u00a0
contract, revenue is typically recognized on a \u00a0
straight-line basis over the course of a year, while for \u00a0
variable components revenue is recognized based \u00a0
on usage of units, and price lists according to the \u00a0
contract). \u00a0
",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForRecognitionOfRevenue",
"language": "en",
"entity": "scheme:549300KM8QVF7WR40664",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"fact1890": {
"value": "Recognition of revenue \u00a0
Revenue is the fair value of the transaction price \u00a0
or receivable from the sale of our services and \u00a0
customized IT applications and is the gross sales \u00a0
price less VAT and any price reductions in the form \u00a0
of discounts and rebates. \u00a0
Revenue can be recognized over time or at a point \u00a0
in time. \u00a0
Revenue is recognized over time when an asset on \u00a0
behalf of a customer is created with no alternative \u00a0
use and NNIT has an enforceable right to payment \u00a0
for performance completed year to date, or the \u00a0
customer obtains control of a service and thus has \u00a0
the ability to direct the use and obtain the benefit \u00a0
from the service. \u00a0
NNIT has two different types of businesses 'projects' \u00a0
and 'Service Level agreements' (SLA) where revenue \u00a0
recognition is treated differently. Refer to note 1.4 \u00a0
General accounting policies for further details. \u00a0
Projects \u00a0
The project business is characterized by being \u00a0
deliveries which in nature are negotiated contracts \u00a0
based on consumption and typically comprise advi- \u00a0
sory, design and development activities. Revenue \u00a0
will be recognized over time, as the 'no alternative \u00a0
use' criteria's are met, using 'the percentage of \u00a0
completion method'. \u00a0
For fixed priced projects the proportion of revenue \u00a0
to be recognized in a particular period is calcu- \u00a0
lated according to the percentage of completion \u00a0
of the project. For most contracts this is meas- \u00a0
ured by reference to the costs of performing the \u00a0
contract incurred up to the relevant balance sheet \u00a0
date as a percentage of the total estimated costs \u00a0
of performing the contract. Reference to cost is \u00a0
assessed to be the most appropriate method as \u00a0
incurred hours are the value driver for the projects. \u00a0
The sales value agreed in the contract is recognized \u00a0
over the contract period using above method. \u00a0
For time-and material contracts, we recognize \u00a0
revenue as performance takes place based on \u00a0
actual hours incurred. \u00a0
Contracts where the recognized revenue from \u00a0
the work performed exceeds progress billings are \u00a0
recognized as 'work in progress' in the balance \u00a0
sheet under assets. \u00a0
Contracts for which progress billings exceed the \u00a0
revenue are recognized as 'prepayments received' \u00a0
under liabilities. \u00a0
If it is likely that the total costs in relation to a long- \u00a0
term contract will exceed the total revenue on a \u00a0
specific project, the expected loss is recognized \u00a0
immediately in the income statement in the current \u00a0
period. \u00a0
Service Level Agreements (SLA) \u00a0
The SLA business comprise infrastructure and appli- \u00a0
cation outsourcing services and requires the perfor- \u00a0
mance of certain performance obligations typically \u00a0
defined as service levels. As described below under \u00a0
\u201cOutsourcing contracts\u201d, the revenue under an \u00a0
outsourcing contract will be recognized over time. \u00a0
Outsourcing contracts \u00a0
Outsourcing contracts consist of two activities, \u00a0
preparatory project (such as transition and transfor- \u00a0
mation) and operation of the IT systems e.g. applica- \u00a0
tion, servers and infrastructure. These identifiable \u00a0
components are accounted for differently to reflect \u00a0
the substance of the transaction. \u00a0
The total contract value of the outsourcing \u00a0
contracts will be split into the different perfor- \u00a0
mance obligations depending on the activities to be \u00a0
delivered. NNIT will profit align between the perfor- \u00a0
mance obligations within the contract (expected \u00a0
cost plus margin approach). \u00a0
Transition \u00a0
Transition is: \u00a0
\u2022
Basic transfer of services and responsibilities \u00a0
\u2022
The minimum activities required that enable the \u00a0
delivery organization to take over operation of \u00a0
the current or similar services for the customer. \u00a0
The transition phase takes place in the period between \u00a0
contract signing and service start up (operation). \u00a0
Activities performed in the transition phase do not \u00a0
transfer services to the customer as they are seen as \u00a0
\u2018start-up\u2019 costs and therefore revenue cannot be recog- \u00a0
nized as the activities are performed but will be recog- \u00a0
nized over the operation period. Cost regarding the \u00a0
transition projects is capitalized and depreciated over \u00a0
the contract period. Please refer to \u2018Transition cost\u2019. \u00a0
Any prepayments received regarding transition \u00a0
projects will be recognized as revenue over the \u00a0
operation period. \u00a0
Transformation \u00a0
Transformation is: \u00a0
\u2022
A significant change to future state of the subject. \u00a0
\u2022
The full set of activities required for the delivery \u00a0
organization to provide the future state operation \u00a0
of services to the customer. \u00a0
These activities transfer services to the customer as \u00a0
performed. \u00a0
The transformation phase typically starts after the \u00a0
successful completion of transition and ends when \u00a0
the environment has reached the agreed future \u00a0
state. In some circumstances the transformation \u00a0
phase will take place in parallel with the transition \u00a0
phase. \u00a0
Revenue regarding transformation projects is \u00a0
recognized over time as an asset is created with no \u00a0
alternative use and NNIT has an enforceable right \u00a0
to payment and revenue recognition in nature is \u00a0
similar to the project business. \u00a0
Operation of IT systems \u00a0
Revenue from the operation of IT systems is \u00a0
recognized in the period in which the outsourcing \u00a0
services are provided based on amounts billable \u00a0
to a customer (for fixed price components in the \u00a0
contract, revenue is typically recognized on a \u00a0
straight-line basis over the course of a year, while for \u00a0
variable components revenue is recognized based \u00a0
on usage of units, and price lists according to the \u00a0
contract). \u00a0
2.1 Segment
information \u00a0
Following the implementation of the new organization on May 2, 2023, NNIT consists of four regions, which \u00a0
individually can be considered an operating segment: \u00a0
\u2022
Region Denmark (excluding life sciences) \u00a0
\u2022
Region Europe (including life sciences in Denmark) \u00a0
\u2022
Region US \u00a0
\u2022
Region Asia \u00a0
The new regional structure has been introduced to increase customer proximity and enhance global coordina- \u00a0
tion across regions. From a financial perspective, the four regional P&Ls will include allocated corporate cost \u00a0
such as legal, human resources, finance and global delivery centers. A consolidation of the four regional P&Ls \u00a0
will constitute NNIT\u2019s group P&L and be supplemented by management commentary to provide increased \u00a0
transparency in respect of financial and business performance for each region. \u00a0
The operating segments reflect the internal reporting that is reviewed by the \u201cChief Operating Decision makers\u201d \u00a0
consisting of the Executive Management and the Board of Directors. The internal reporting includes commu- \u00a0
nication of revenue, costs and operating results for each of the operating segments. No reporting is made on \u00a0
assets. \u00a0
Region Denmark generated 42% of the revenue in the year ended December 31, 2023 (2022: 38%), Region \u00a0
Europe generated 27% of the revenue (2022: 31%) and Region US generated 22% in 2023 (2022: 21%) based on \u00a0
the location of the customer. \u00a0
Denmark generated 33% of the revenue in the year ended December 31, 2023 (2022: 40%) and the United \u00a0
States of America 25% in 2023 (2022:26%) based on the location of the customer \u00a0
The Novo Nordisk Group generated 10% of the continuing operations revenue in the year ended December 31, \u00a0
2023 (2022: 9%), whereof 41% relates to Region Europe (2022: 44%), 31% relates to Region Asia (2022: 28%) and \u00a0
26% relates to Region Denmark (2022: 24%). \u00a0
For depreciations and amortizations 48% relates to Region Denmark (2022: 39%), 32% relates to Region Europe \u00a0
(2022: 32%) and 20% relates to Region US (2022: 20%). \u00a0
65% of tangible assets relates to Region Denmark (2022: 100%). For intangible assets 56% relates to Denmark \u00a0
(2022: Region Denmark 56%) and 44% relates to US (2022: Region US 44%). \u00a0
Region \u00a0
Region \u00a0
Region \u00a0
Region \u00a0
DKK million \u00a0
Denmark \u00a0
Europe \u00a0
Asia \u00a0
US \u00a0
Total \u00a0
2023 \u00a0
Revenue \u00a0
732 \u00a0
465 \u00a0
144 \u00a0
387 \u00a0
1,728 \u00a0
Production cost \u00a0
566 \u00a0
330 \u00a0
135 \u00a0
252 \u00a0
1,283 \u00a0
Gross profit \u00a0
166 \u00a0
135 \u00a0
9
135 \u00a0
445 \u00a0
Gross profit Margin \u00a0
22.7% \u00a0
29.0% \u00a0
6.3% \u00a0
34.9% \u00a0
25.8% \u00a0
Regional operating profit \u00a0
133 \u00a0
78 \u00a0
(4) \u00a0
80 \u00a0
287 \u00a0
Regional operating profit margin \u00a0
18.2% \u00a0
16.8% \u00a0
(2.8)% \u00a0
20.7% \u00a0
16.6% \u00a0
Group operating profit1 \u00a0
60 \u00a0
32 \u00a0
(18) \u00a0
42 \u00a0
116 \u00a0
Group operating profit margin \u00a0
8.2% \u00a0
6.9% \u00a0
(12.5)% \u00a0
10.9% \u00a0
6.7% \u00a0
2022 \u00a0
Revenue \u00a0
564 \u00a0
468 \u00a0
157 \u00a0
311 \u00a0
1,500 \u00a0
Production cost \u00a0
369 \u00a0
364 \u00a0
134 \u00a0
225 \u00a0
1,092 \u00a0
Gross profit \u00a0
195 \u00a0
104 \u00a0
23 \u00a0
86 \u00a0
408 \u00a0
Gross profit Margin \u00a0
34.6% \u00a0
22.2% \u00a0
14.6% \u00a0
27.7% \u00a0
27.2% \u00a0
Regional operating profit \u00a0
138 \u00a0
41 \u00a0
11 \u00a0
52 \u00a0
242 \u00a0
Regional operating profit margin \u00a0
24.5% \u00a0
8.8% \u00a0
7.0% \u00a0
16.7% \u00a0
16.1% \u00a0
Group operating profit1 \u00a0
49 \u00a0
(33) \u00a0
(14) \u00a0
(9) \u00a0
(7) \u00a0
Group operating profit margin \u00a0
8.7% \u00a0
(7.1)% \u00a0
(8.9)% \u00a0
(2.9)% \u00a0
(0.5)% \u00a0
1\ua880\ua881When\ua881deducting\ua881speciel\ua881items\ua881and\ua881net\ua881financials\ua881consolidated\ua881profit\ua881before\ua881income\ua881taxes\ua881is\ua881obtained. \u00a0
",
"dimensions": {
"concept": "ifrs-full:DisclosureOfRevenueExplanatory",
"language": "en",
"entity": "scheme:549300KM8QVF7WR40664",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"fact1891": {
"value": "Recognition of revenue \u00a0
Revenue is the fair value of the transaction price \u00a0
or receivable from the sale of our services and \u00a0
customized IT applications and is the gross sales \u00a0
price less VAT and any price reductions in the form \u00a0
of discounts and rebates. \u00a0
Revenue can be recognized over time or at a point \u00a0
in time. \u00a0
Revenue is recognized over time when an asset on \u00a0
behalf of a customer is created with no alternative \u00a0
use and NNIT has an enforceable right to payment \u00a0
for performance completed year to date, or the \u00a0
customer obtains control of a service and thus has \u00a0
the ability to direct the use and obtain the benefit \u00a0
from the service. \u00a0
NNIT has two different types of businesses 'projects' \u00a0
and 'Service Level agreements' (SLA) where revenue \u00a0
recognition is treated differently. Refer to note 1.4 \u00a0
General accounting policies for further details. \u00a0
Projects \u00a0
The project business is characterized by being \u00a0
deliveries which in nature are negotiated contracts \u00a0
based on consumption and typically comprise advi- \u00a0
sory, design and development activities. Revenue \u00a0
will be recognized over time, as the 'no alternative \u00a0
use' criteria's are met, using 'the percentage of \u00a0
completion method'. \u00a0
For fixed priced projects the proportion of revenue \u00a0
to be recognized in a particular period is calcu- \u00a0
lated according to the percentage of completion \u00a0
of the project. For most contracts this is meas- \u00a0
ured by reference to the costs of performing the \u00a0
contract incurred up to the relevant balance sheet \u00a0
date as a percentage of the total estimated costs \u00a0
of performing the contract. Reference to cost is \u00a0
assessed to be the most appropriate method as \u00a0
incurred hours are the value driver for the projects. \u00a0
The sales value agreed in the contract is recognized \u00a0
over the contract period using above method. \u00a0
For time-and material contracts, we recognize \u00a0
revenue as performance takes place based on \u00a0
actual hours incurred. \u00a0
Contracts where the recognized revenue from \u00a0
the work performed exceeds progress billings are \u00a0
recognized as 'work in progress' in the balance \u00a0
sheet under assets. \u00a0
Contracts for which progress billings exceed the \u00a0
revenue are recognized as 'prepayments received' \u00a0
under liabilities. \u00a0
If it is likely that the total costs in relation to a long- \u00a0
term contract will exceed the total revenue on a \u00a0
specific project, the expected loss is recognized \u00a0
immediately in the income statement in the current \u00a0
period. \u00a0
Service Level Agreements (SLA) \u00a0
The SLA business comprise infrastructure and appli- \u00a0
cation outsourcing services and requires the perfor- \u00a0
mance of certain performance obligations typically \u00a0
defined as service levels. As described below under \u00a0
\u201cOutsourcing contracts\u201d, the revenue under an \u00a0
outsourcing contract will be recognized over time. \u00a0
Outsourcing contracts \u00a0
Outsourcing contracts consist of two activities, \u00a0
preparatory project (such as transition and transfor- \u00a0
mation) and operation of the IT systems e.g. applica- \u00a0
tion, servers and infrastructure. These identifiable \u00a0
components are accounted for differently to reflect \u00a0
the substance of the transaction. \u00a0
The total contract value of the outsourcing \u00a0
contracts will be split into the different perfor- \u00a0
mance obligations depending on the activities to be \u00a0
delivered. NNIT will profit align between the perfor- \u00a0
mance obligations within the contract (expected \u00a0
cost plus margin approach). \u00a0
Transition \u00a0
Transition is: \u00a0
\u2022
Basic transfer of services and responsibilities \u00a0
\u2022
The minimum activities required that enable the \u00a0
delivery organization to take over operation of \u00a0
the current or similar services for the customer. \u00a0
The transition phase takes place in the period between \u00a0
contract signing and service start up (operation). \u00a0
Activities performed in the transition phase do not \u00a0
transfer services to the customer as they are seen as \u00a0
\u2018start-up\u2019 costs and therefore revenue cannot be recog- \u00a0
nized as the activities are performed but will be recog- \u00a0
nized over the operation period. Cost regarding the \u00a0
transition projects is capitalized and depreciated over \u00a0
the contract period. Please refer to \u2018Transition cost\u2019. \u00a0
Any prepayments received regarding transition \u00a0
projects will be recognized as revenue over the \u00a0
operation period. \u00a0
Transformation \u00a0
Transformation is: \u00a0
\u2022
A significant change to future state of the subject. \u00a0
\u2022
The full set of activities required for the delivery \u00a0
organization to provide the future state operation \u00a0
of services to the customer. \u00a0
These activities transfer services to the customer as \u00a0
performed. \u00a0
The transformation phase typically starts after the \u00a0
successful completion of transition and ends when \u00a0
the environment has reached the agreed future \u00a0
state. In some circumstances the transformation \u00a0
phase will take place in parallel with the transition \u00a0
phase. \u00a0
Revenue regarding transformation projects is \u00a0
recognized over time as an asset is created with no \u00a0
alternative use and NNIT has an enforceable right \u00a0
to payment and revenue recognition in nature is \u00a0
similar to the project business. \u00a0
Operation of IT systems \u00a0
Revenue from the operation of IT systems is \u00a0
recognized in the period in which the outsourcing \u00a0
services are provided based on amounts billable \u00a0
to a customer (for fixed price components in the \u00a0
contract, revenue is typically recognized on a \u00a0
straight-line basis over the course of a year, while for \u00a0
variable components revenue is recognized based \u00a0
on usage of units, and price lists according to the \u00a0
contract). \u00a0
Work in progress \u00a0
The determination of the percentage of completion \u00a0
of work in progress related to fixed price projects is \u00a0
based on estimates of future costs, hours and mate- \u00a0
rials. Each project is unique in their design. Manage- \u00a0
ment makes judgements on individual assessments \u00a0
of specific projects and their associated risk from \u00a0
the on-going monitoring, to identify any deviations \u00a0
from estimates. \u00a0
Adjustments to cost estimates may be made peri- \u00a0
odically following management review, which may \u00a0
result in a re-assessment of the percentage of \u00a0
completion as of the date of review. Such changes \u00a0
result in revisions to revenue attributable to work \u00a0
performed up until the date of revision. The effect \u00a0
of such changes in estimates is recognized as a \u00a0
change to revenue in the period in which the revi- \u00a0
sions are determined. \u00a0
2.1 Segment
information \u00a0
Following the implementation of the new organization on May 2, 2023, NNIT consists of four regions, which \u00a0
individually can be considered an operating segment: \u00a0
\u2022
Region Denmark (excluding life sciences) \u00a0
\u2022
Region Europe (including life sciences in Denmark) \u00a0
\u2022
Region US \u00a0
\u2022
Region Asia \u00a0
The new regional structure has been introduced to increase customer proximity and enhance global coordina- \u00a0
tion across regions. From a financial perspective, the four regional P&Ls will include allocated corporate cost \u00a0
such as legal, human resources, finance and global delivery centers. A consolidation of the four regional P&Ls \u00a0
will constitute NNIT\u2019s group P&L and be supplemented by management commentary to provide increased \u00a0
transparency in respect of financial and business performance for each region. \u00a0
The operating segments reflect the internal reporting that is reviewed by the \u201cChief Operating Decision makers\u201d \u00a0
consisting of the Executive Management and the Board of Directors. The internal reporting includes commu- \u00a0
nication of revenue, costs and operating results for each of the operating segments. No reporting is made on \u00a0
assets. \u00a0
Region Denmark generated 42% of the revenue in the year ended December 31, 2023 (2022: 38%), Region \u00a0
Europe generated 27% of the revenue (2022: 31%) and Region US generated 22% in 2023 (2022: 21%) based on \u00a0
the location of the customer. \u00a0
Denmark generated 33% of the revenue in the year ended December 31, 2023 (2022: 40%) and the United \u00a0
States of America 25% in 2023 (2022:26%) based on the location of the customer \u00a0
The Novo Nordisk Group generated 10% of the continuing operations revenue in the year ended December 31, \u00a0
2023 (2022: 9%), whereof 41% relates to Region Europe (2022: 44%), 31% relates to Region Asia (2022: 28%) and \u00a0
26% relates to Region Denmark (2022: 24%). \u00a0
For depreciations and amortizations 48% relates to Region Denmark (2022: 39%), 32% relates to Region Europe \u00a0
(2022: 32%) and 20% relates to Region US (2022: 20%). \u00a0
65% of tangible assets relates to Region Denmark (2022: 100%). For intangible assets 56% relates to Denmark \u00a0
(2022: Region Denmark 56%) and 44% relates to US (2022: Region US 44%). \u00a0
Region \u00a0
Region \u00a0
Region \u00a0
Region \u00a0
DKK million \u00a0
Denmark \u00a0
Europe \u00a0
Asia \u00a0
US \u00a0
Total \u00a0
2023 \u00a0
Revenue \u00a0
732 \u00a0
465 \u00a0
144 \u00a0
387 \u00a0
1,728 \u00a0
Production cost \u00a0
566 \u00a0
330 \u00a0
135 \u00a0
252 \u00a0
1,283 \u00a0
Gross profit \u00a0
166 \u00a0
135 \u00a0
9
135 \u00a0
445 \u00a0
Gross profit Margin \u00a0
22.7% \u00a0
29.0% \u00a0
6.3% \u00a0
34.9% \u00a0
25.8% \u00a0
Regional operating profit \u00a0
133 \u00a0
78 \u00a0
(4) \u00a0
80 \u00a0
287 \u00a0
Regional operating profit margin \u00a0
18.2% \u00a0
16.8% \u00a0
(2.8)% \u00a0
20.7% \u00a0
16.6% \u00a0
Group operating profit1 \u00a0
60 \u00a0
32 \u00a0
(18) \u00a0
42 \u00a0
116 \u00a0
Group operating profit margin \u00a0
8.2% \u00a0
6.9% \u00a0
(12.5)% \u00a0
10.9% \u00a0
6.7% \u00a0
2022 \u00a0
Revenue \u00a0
564 \u00a0
468 \u00a0
157 \u00a0
311 \u00a0
1,500 \u00a0
Production cost \u00a0
369 \u00a0
364 \u00a0
134 \u00a0
225 \u00a0
1,092 \u00a0
Gross profit \u00a0
195 \u00a0
104 \u00a0
23 \u00a0
86 \u00a0
408 \u00a0
Gross profit Margin \u00a0
34.6% \u00a0
22.2% \u00a0
14.6% \u00a0
27.7% \u00a0
27.2% \u00a0
Regional operating profit \u00a0
138 \u00a0
41 \u00a0
11 \u00a0
52 \u00a0
242 \u00a0
Regional operating profit margin \u00a0
24.5% \u00a0
8.8% \u00a0
7.0% \u00a0
16.7% \u00a0
16.1% \u00a0
Group operating profit1 \u00a0
49 \u00a0
(33) \u00a0
(14) \u00a0
(9) \u00a0
(7) \u00a0
Group operating profit margin \u00a0
8.7% \u00a0
(7.1)% \u00a0
(8.9)% \u00a0
(2.9)% \u00a0
(0.5)% \u00a0
1\ua880\ua881When\ua881deducting\ua881speciel\ua881items\ua881and\ua881net\ua881financials\ua881consolidated\ua881profit\ua881before\ua881income\ua881taxes\ua881is\ua881obtained. \u00a0
3.4 Contract balances \u00a0
Contract assets and liabilities, continuing operations \u00a0
DKK million \u00a0
2023 \u00a0
2022 \u00a0
Trade receivables as specified in note 3.6 \u00a0
476 \u00a0
384 \u00a0
Contract assets from continuing operations comprise: \u00a0
Work in progress (projects) \u00a0
67 \u00a0
54 \u00a0
Transition projects (included in trade receivables, note 3.6) \u00a0
17 \u00a0
9
Contract liabilities from continuing activities comprise: \u00a0
Prepayments received, work in progress \u00a0
(74) \u00a0
(55) \u00a0
Prepayments received, transition cost \u00a0
(20) \u00a0
(15) \u00a0
Deferred income \u00a0
(67) \u00a0
-
Work in progress relates to projects where the recognized revenue from work performed exceeds progress \u00a0
billings. Prepayments received, work in progress relates to projects where the progress billing exceeds work \u00a0
performed. Prepayments received transition cost relates to prepayments received regarding transition \u00a0
projects. As such the balances of these accounts vary and depend on the number of new projects at the end of \u00a0
the year. \u00a0
Revenue \u00a0
recognized \u00a0
Revenue \u00a0
from \u00a0
recognized \u00a0
Opening \u00a0
opening \u00a0
regarding \u00a0
Closing \u00a0
DKK million \u00a0
balance \u00a0
Additions \u00a0
balance \u00a0
additions \u00a0
balance \u00a0
2023 \u00a0
Prepayments received, \u00a0
work in progress \u00a0
(55) \u00a0
(69) \u00a0
47 \u00a0
3
(74) \u00a0
Prepayments received, \u00a0
transition cost \u00a0
(15) \u00a0
(8) \u00a0
3
-
(20) \u00a0
Deferred income \u00a0
0
(69) \u00a0
-
2
(67) \u00a0
Transferred \u00a0
to liabilities \u00a0
Revenue \u00a0
directly \u00a0
recognized \u00a0
Revenue \u00a0
associated \u00a0
from recognized \u00a0
with assets \u00a0
Opening \u00a0
opening \u00a0
regarding \u00a0
classified as \u00a0
Closing \u00a0
DKK million \u00a0
balance Additions \u00a0
balance \u00a0
additions \u00a0
held for sale \u00a0
balance \u00a0
2022 \u00a0
Prepayments received, \u00a0
work in progress \u00a0
(116) \u00a0
(49) \u00a0
80 \u00a0
-
30 \u00a0
(55) \u00a0
Prepayments received, \u00a0
transition cost \u00a0
(30) \u00a0
(44) \u00a0
13 \u00a0
-
46 \u00a0
(15) \u00a0
Deferred income \u00a0
-
-
-
-
-
-
Besides above balances we have also capitalized cost to fulfill a contract as transition cost. \u00a0
Transition cost relates to capitalized cost incurred for preparatory projects in relation to transition or set-up \u00a0
activities required to enable delivery of the service. The cost will be amortized over the operation period which \u00a0
generally is between 3-6 years. \u00a0
As such the balance for transition cost vary depending on the number of new outsourcing contracts requiring a \u00a0
transition project or set-up activities. \u00a0
Transferred \u00a0
Amortized \u00a0
to assets \u00a0
cost from
Amortized \u00a0
classified \u00a0
Opening \u00a0
opening cost
from Impairment \u00a0
as held \u00a0
Closing \u00a0
DKK million \u00a0
balance Additions \u00a0
balance \u00a0
additions \u00a0
loss \u00a0
for sale \u00a0
balance \u00a0
2023 \u00a0
Transition cost \u00a0
9
13 \u00a0
(2) \u00a0
(3) \u00a0
-
-
17 \u00a0
Transferred \u00a0
Amortized \u00a0
to assets \u00a0
cost from
Amortized \u00a0
classified \u00a0
Opening \u00a0
opening cost
from Impairment \u00a0
as held \u00a0
Closing \u00a0
DKK million \u00a0
balance Additions \u00a0
balance \u00a0
additions \u00a0
loss \u00a0
for sale \u00a0
balance \u00a0
2022 \u00a0
Transition cost \u00a0
70 \u00a0
52 \u00a0
(33) \u00a0
-
-
(80) \u00a0
9
Transition cost for the continuing operations are recognized in the balance sheet as follows: \u00a0
DKK million \u00a0
2023 \u00a0
2022 \u00a0
Transition cost, non-current \u00a0
14 \u00a0
7
Transition cost, current \u00a0
3
2
Total transition cost \u00a0
17 \u00a0
9
Future contract obligations \u00a0
Below table shows performance obligations resulting from contracts which will be satisfied in the future: \u00a0
DKK million \u00a0
2023 \u00a0
2022 \u00a0
Aggregated amount of transaction price allocated to contracts that will \u00a0
be satisfied in the future as at December 31 \u00a0
1,257 \u00a0
1,352 \u00a0
2023 and 2022 balances reflects continuing operations. \u00a0
Management expects that DKK 1,025 million of the transaction price allocated to the future contract obligations as \u00a0
of December 31, 2023 will be recognized during 2024. The remaining part will be recognized as revenue within 2-3 \u00a0
years. The amount disclosed above includes both fixed and variable consideration. \u00a0
",
"dimensions": {
"concept": "ifrs-full:DisclosureOfRevenueFromContractsWithCustomersExplanatory",
"language": "en",
"entity": "scheme:549300KM8QVF7WR40664",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"fact1877": {
"value": "Changes to comparative figures \u00a0
In connection with the preparation of the Consol- \u00a0
idated Financial Statements for 2023, corrections \u00a0
to the comparative figures have been made. The \u00a0
corrections are not considered having any material \u00a0
impact on NNIT's financial position nor in relation to \u00a0
either income statement or equity. \u00a0
Change in allocation of cost by function \u00a0
In 2023, NNIT changed the principles behind \u00a0
the allocation of cost by function. Therefore the \u00a0
comparative figures for 2022 have been adjusted \u00a0
using the same principles. The effect is illustrated \u00a0
below: \u00a0
2022 \u00a0
2022 \u00a0
Before \u00a0
After \u00a0
adjust- \u00a0
Adjust- \u00a0
adjust- \u00a0
DKK million \u00a0
ment \u00a0
ment \u00a0
ment \u00a0
Cost of \u00a0
goods sold \u00a0
1,349 \u00a0
(257) \u00a0
1,092 \u00a0
Sales and \u00a0
marketing \u00a0
costs \u00a0
81 \u00a0
13 \u00a0
94 \u00a0
Admin- \u00a0
istrative \u00a0
expenses \u00a0
77 \u00a0
244 \u00a0
321 \u00a0
Total \u00a0
1,507 \u00a0
0
1,507 \u00a0
The above illustration shows 2022 original figures, \u00a0
adjustment and 2022 adjusted figures, which is \u00a0
presented in the financial statement for 2023. \u00a0
NNIT has applied relevant new or amended stand- \u00a0
ards (IFRS) and interpretations (IFRIC) as applied by \u00a0
the EU and which are effective for the financial year 1 \u00a0
January \u2013 31 December 2023. NNIT has assessed that \u00a0
the new or amended standards and interpretations \u00a0
have not had any material impact on NNIT\u2019s Annual \u00a0
Report in 2023. \u00a0
New Segment Reporting \u00a0
Segment performance is evaluated on the basis of \u00a0
the operating profit consistent with the consolidated \u00a0
financial statements. \u00a0
Operating segments are reported in a manner \u00a0
consistent with the internal reporting provided to \u00a0
Group Management and the Board of Directors. \u00a0
After the completion of the transformative divest- \u00a0
ment of the Group\u2019s infrastructure business, \u00a0
NNIT has changed its financial reporting format to \u00a0
reflect its new regional organization and to ensure \u00a0
consistency with internal reporting. Refer to note 2.1 \u00a0
Segment Information for further details. \u00a0
",
"dimensions": {
"concept": "ifrs-full:DisclosureOfChangesInAccountingPoliciesAccountingEstimatesAndErrorsExplanatory",
"language": "en",
"entity": "scheme:549300KM8QVF7WR40664",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"fact1878": {
"value": "Changes to comparative figures \u00a0
In connection with the preparation of the Consol- \u00a0
idated Financial Statements for 2023, corrections \u00a0
to the comparative figures have been made. The \u00a0
corrections are not considered having any material \u00a0
impact on NNIT's financial position nor in relation to \u00a0
either income statement or equity. \u00a0
Change in allocation of cost by function \u00a0
In 2023, NNIT changed the principles behind \u00a0
the allocation of cost by function. Therefore the \u00a0
comparative figures for 2022 have been adjusted \u00a0
using the same principles. The effect is illustrated \u00a0
below: \u00a0
2022 \u00a0
2022 \u00a0
Before \u00a0
After \u00a0
adjust- \u00a0
Adjust- \u00a0
adjust- \u00a0
DKK million \u00a0
ment \u00a0
ment \u00a0
ment \u00a0
Cost of \u00a0
goods sold \u00a0
1,349 \u00a0
(257) \u00a0
1,092 \u00a0
Sales and \u00a0
marketing \u00a0
costs \u00a0
81 \u00a0
13 \u00a0
94 \u00a0
Admin- \u00a0
istrative \u00a0
expenses \u00a0
77 \u00a0
244 \u00a0
321 \u00a0
Total \u00a0
1,507 \u00a0
0
1,507 \u00a0
The above illustration shows 2022 original figures, \u00a0
adjustment and 2022 adjusted figures, which is \u00a0
presented in the financial statement for 2023. \u00a0
NNIT has applied relevant new or amended stand- \u00a0
ards (IFRS) and interpretations (IFRIC) as applied by \u00a0
the EU and which are effective for the financial year 1 \u00a0
January \u2013 31 December 2023. NNIT has assessed that \u00a0
the new or amended standards and interpretations \u00a0
have not had any material impact on NNIT\u2019s Annual \u00a0
Report in 2023. \u00a0
New Segment Reporting \u00a0
Segment performance is evaluated on the basis of \u00a0
the operating profit consistent with the consolidated \u00a0
financial statements. \u00a0
Operating segments are reported in a manner \u00a0
consistent with the internal reporting provided to \u00a0
Group Management and the Board of Directors. \u00a0
After the completion of the transformative divest- \u00a0
ment of the Group\u2019s infrastructure business, \u00a0
NNIT has changed its financial reporting format to \u00a0
reflect its new regional organization and to ensure \u00a0
consistency with internal reporting. Refer to note 2.1 \u00a0
Segment Information for further details. \u00a0
",
"dimensions": {
"concept": "ifrs-full:DisclosureOfChangesInAccountingPoliciesExplanatory",
"language": "en",
"entity": "scheme:549300KM8QVF7WR40664",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"fact1901": {
"value": "1.2 Summary
of key accounting estimates \u00a0
The preparation of financial statements under IFRS \u00a0
requires the use of certain key accounting esti- \u00a0
mates. \u00a0
Determination of the carrying amount of some \u00a0
assets and liabilities requires Management to make \u00a0
judgements, estimates and assumptions about \u00a0
future circumstances. \u00a0
Estimates and assumptions are based on historical \u00a0
experience and other factors and are regarded by \u00a0
Management as reasonable in the circumstances \u00a0
but are inherently uncertain and unpredictable and \u00a0
therefore the actual outcome may differ from these \u00a0
estimates. \u00a0
Management considers judgements and estimates \u00a0
under the following items as significant to these \u00a0
consolidated financial statements: \u00a0
\u2022
Discontinued operations (note 3.9) \u00a0
\u2022
Impairment test, goodwill (note 3.2) \u00a0
Impairment test \u00a0
For the goodwill impairment test, a number of esti- \u00a0
mates are made on the development in revenues, \u00a0
gross profits, operating margins, future capital \u00a0
expenditures, discount rates and growth expec- \u00a0
tations in the terminal period. These estimates \u00a0
are based on assessments of the current and \u00a0
future development in the CGU's and are based on \u00a0
historical data and assumptions of future expected \u00a0
market developments, including expected long-term \u00a0
average market growth rates. \u00a0
In 2023, the Group re-allocated goodwill to align \u00a0
with the new organisational structure announced \u00a0
in May 2023 and implemented with effect from the \u00a0
release of the interim report for the first six months \u00a0
of 2023. The re-allocation was carried out to reflect \u00a0
the new internal management reporting and conse- \u00a0
quently how goodwill is monitored. \u00a0
Discontinued operations \u00a0
On 28 April, NNIT completed the transformative \u00a0
divestment of the Group\u2019s infrastructure oper- \u00a0
ations. Discontinued operations (Hybrid Cloud \u00a0
Solutions and selected parts of Cloud & Digital \u00a0
Solutions) therefore covers the first four months of \u00a0
the financial year 2023. Discontinued operations \u00a0
have been assessed in respect of IFRS 5 Discon- \u00a0
tinued operations, and it represents a significant \u00a0
accounting judgement. Refer to note 1.4 General \u00a0
accounting policies for further details. \u00a0
",
"dimensions": {
"concept": "ifrs-full:DisclosureOfAccountingJudgementsAndEstimatesExplanatory",
"language": "en",
"entity": "scheme:549300KM8QVF7WR40664",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"fact1904": {
"value": "Impairment test \u00a0
For the goodwill impairment test, a number of esti- \u00a0
mates are made on the development in revenues, \u00a0
gross profits, operating margins, future capital \u00a0
expenditures, discount rates and growth expec- \u00a0
tations in the terminal period. These estimates \u00a0
are based on assessments of the current and \u00a0
future development in the CGU's and are based on \u00a0
historical data and assumptions of future expected \u00a0
market developments, including expected long-term \u00a0
average market growth rates. \u00a0
In 2023, the Group re-allocated goodwill to align \u00a0
with the new organisational structure announced \u00a0
in May 2023 and implemented with effect from the \u00a0
release of the interim report for the first six months \u00a0
of 2023. The re-allocation was carried out to reflect \u00a0
the new internal management reporting and conse- \u00a0
quently how goodwill is monitored. \u00a0
Intangible assets \u00a0
Goodwill \u00a0
Goodwill arising from business combinations \u00a0
is recognized and measured as the difference \u00a0
between the total of the fair value of the considera- \u00a0
tion transferred compared to the fair value of identi- \u00a0
fiable net assets on the date of acquisition. \u00a0
Goodwill is not amortized, but the carrying amount \u00a0
is tested at relevant cash generating unit level \u00a0
(CGU-level) for impairment once a year. \u00a0
Goodwill is written down to its recoverable amount \u00a0
through the income statement if lower than the \u00a0
carrying amount. \u00a0
The recoverable amount is determined as the \u00a0
present value of the discounted future net cash \u00a0
flow from the activities goodwill relates to. In calcu- \u00a0
lating the present value, discount rates are applied \u00a0
reflecting the riskfree interest rate with the addition \u00a0
of risks relating to the individual CGU. \u00a0
IT development projects \u00a0
IT development projects are clearly specified and \u00a0
identifiable projects under development for internal \u00a0
and external use for which the technical feasibility \u00a0
of completing the development project has been \u00a0
demonstrated and resources are available within \u00a0
NNIT. \u00a0
Any development projects that do not meet the \u00a0
criteria for capitalization in the balance sheet are \u00a0
recognized as costs. \u00a0
Development costs meeting the criteria for capital- \u00a0
iztion are measured at cost less accumulated amor- \u00a0
tization and any impairment losses. Development \u00a0
costs include salaries, amortization and deprecia- \u00a0
tion and other costs that can be directly attributed \u00a0
to NNIT development activities. \u00a0
Development costs recognized in the balance sheet \u00a0
are amortized from completion of the development \u00a0
using the straight-line method, over the period the \u00a0
asset is expected to generate economic benefits. \u00a0
Straight-line amortization over the expected useful \u00a0
life of the asset: \u00a0
\u2022
IT projects: 5-10 years \u00a0
Intangible assets that are in use and subject to \u00a0
amortization are tested for impairment whenever \u00a0
events or changes in circumstances indicate that the \u00a0
carrying amount may not be recoverable. Factors \u00a0
that could trigger an impairment test include \u00a0
changes in the economic lifes of similar assets or \u00a0
the relationship with other intangible assets or \u00a0
tangible assets. \u00a0
Intangible assets under construction are tested for \u00a0
impairment once a year. \u00a0
If the carrying amount of intangible assets exceeds \u00a0
the recoverable amount based upon the above indi- \u00a0
cators of impairment, any impairment loss is meas- \u00a0
ured based on discounted future cash flows. \u00a0
Tangible assets \u00a0
Tangible fixed assets are measured at cost less \u00a0
accumulated depreciation and any impairment \u00a0
losses. \u00a0
Cost price includes the purchase price and costs \u00a0
relating directly to the purchase. Subsequent costs \u00a0
are either included in the carrying amount of the \u00a0
asset or recognized as a separate asset, where \u00a0
there are likely future economic benefits for the \u00a0
Group and the value of the asset can be reliably \u00a0
measured. \u00a0
The depreciable amount of the assets is depreciated \u00a0
on a straight-line basis over the following estimated \u00a0
useful life periods: \u00a0
\u2022
Other equipment: 3-10 years \u00a0
\u2022
Leasehold improvements: 5-10 years \u00a0
\u2022
Buildings: 10-50 years \u00a0
Major components of buildings which are expected \u00a0
to be replaced with regular intervals during the life \u00a0
of the building are treated as separated compo- \u00a0
nents of the building and are depreciated over the \u00a0
period until expected replacement. \u00a0
Asset residual values and useful life's are assessed \u00a0
and, where required, adjusted on each balance \u00a0
sheet date. \u00a0
Tangible assets are tested for impairment if \u00a0
there are indications of impairment. The carrying \u00a0
amount of an asset is written down to its recover- \u00a0
able amount if the carrying amount exceeds the \u00a0
estimated recoverable amount. The recoverable \u00a0
amount for the asset is determined as the higher \u00a0
of fair value less costs to sell and net present value \u00a0
of future net cash flows from continued use. If the \u00a0
recoverable amount of an individual asset cannot \u00a0
be determined, value in use is determined for the \u00a0
smallest group of assets for which it is possible to \u00a0
determine a recoverable amount. Impairment losses \u00a0
are recognized in the income statement under the \u00a0
relevant functional areas. \u00a0
Depreciation and gains or losses from disposal of \u00a0
tangible assets are recognized in the income state- \u00a0
ment under cost of goods sold, sale and marketing \u00a0
costs and administrative expenses respectively. \u00a0
2.4 Amortization, depreciation and impairment losses \u00a0
DKK million \u00a0
2023 \u00a0
2022 \u00a0
Amortization \u00a0
-
29 \u00a0
Depreciation \u00a0
33 \u00a0
180 \u00a0
Impairment losses \u00a0
-
13 \u00a0
Total amortization, depreciation, and impairment losses \u00a0
33 \u00a0
222 \u00a0
Total amortization, depreciation, and impairment losses, \u00a0
discontinued operations \u00a0
5
154 \u00a0
Total amortization, depreciation, and impairment losses, \u00a0
continuing operations \u00a0
28 \u00a0
68 \u00a0
Amortization, depreciation and impairment losses are \u00a0
recognized in the income statement: \u00a0
Cost of goods sold \u00a0
7
14 \u00a0
Sales and marketing costs \u00a0
1
1
Administrative expenses \u00a0
20 \u00a0
39 \u00a0
Special items \u00a0
-
14 \u00a0
Total amortization, depreciation, and impairment losses \u00a0
28 \u00a0
68 \u00a0
3.2 Impairment test \u00a0
Re-allocation of goodwill \u00a0
In 2023, the Group re-allocated goodwill to align with the new organisational structure announced in May 2023 \u00a0
and implemented with effect from the release of the interim report for the first six months of 2023. The re-al- \u00a0
location was carried out to reflect the new internal reporting and consequently how goodwill is monitored. No \u00a0
risk of impairment was identified prior to the re-allocation of goodwill. \u00a0
Goodwill has been re-allocated to the new group\u2019s of CGUs (smallest identifiable group of assets) based on the \u00a0
carrying amount of goodwill connected to the individual legal entities. The new CGU\u2019s is in all material aspects a \u00a0
grouping of previous CGU\u2019s, which lower the estimates and judgements applied by Management in determining \u00a0
the carrying amount of the individual CGU\u2019s as per 31 December 2023. As a result of the re-allocation, the CGU \u00a0
Region Denmark consist of Scales, the CGU Region Europe consist of SL Controls, LS EU outside DK ex. Valiance \u00a0
(HGP Group and Prime4Services) and Valiance Europe (part of previous CGU \"Valiance Partners\"). The CGU \u00a0
Region US consist of Excellis and Valiance US (part of previous CGU \"Valiance Partners\"). \u00a0
Impairment test \u00a0
The carrying amount of goodwill is impairment tested by comparison to the recoverable amount. The recover- \u00a0
able amount is determined based on value in use. Discounted cash flow models have been applied to deter- \u00a0
mine the value in use for the cash-generating units, based on the most recent financial forecasts approved \u00a0
by management. The CGU\u2019s are in all material aspects subject to the same presumptions hence below is \u00a0
applicable for all CGU\u2019s. When determining value in use the post-tax discount rate has been used. The pre-tax \u00a0
discount rate is for information purposes only. Net cash flows for the year 2024-2028 are determined based on \u00a0
key assumptions and expectations and estimates based on growth and profit margin expectations based on \u00a0
past experience and in accordance with NNIT business plans. From 2028 onwards, NNIT expects the growth \u00a0
rate to remain in line with the expected longterm average growth rate for the industry. The uncertainty associ- \u00a0
ated with these expectations is reflected in the discount rate used. \u00a0
Goodwill has been tested for impairment at December 31, 2023. The impairment test did not result in any \u00a0
impairment of the carrying amount. The key assumptions used are stated in the following (DKK million). \u00a0
The expected growth in revenue is based on historical performance, expected development in the market in \u00a0
which the entity operates and assumptions in terms of development in market share. The growth rates applied \u00a0
in the explicit forecast period converge from its current level experienced over the last few years to the long- \u00a0
term growth level in the market where the entity operates. The growth rates used to extrapolate cash flow \u00a0
projections beyond the explicit forecast period are not higher than the average expected long-term growth in \u00a0
the markets in which the entities operate. \u00a0
A sensitivity analysis has been carried out in relation to the discount rate (WACC) and terminal growth. The \u00a0
sensitivity analysis did not give rise to any risk of impairment. \u00a0
CGU1 \u00a0
Annual \u00a0
Terminal \u00a0
Carrying \u00a0
revenue \u00a0
Discount \u00a0
Discount \u00a0
period \u00a0
DKK million \u00a0
amount \u00a0
growth rate
rate pre-tax
rate post-tax \u00a0
growth rate \u00a0
2023 \u00a0
Region Denmark \u00a0
113 \u00a0
2-9% \u00a0
10.8% \u00a0
8.4% \u00a0
2% \u00a0
Region Europe \u00a0
267 \u00a0
8-14% \u00a0
10.8% \u00a0
8.4% \u00a0
2% \u00a0
Region US \u00a0
306 \u00a0
4-14% \u00a0
10.8% \u00a0
8.4% \u00a0
2% \u00a0
1\ua880\ua881The\ua881goodwill\ua881has\ua881been\ua881reallocated\ua881to\ua881the\ua881new\ua881business\ua881segments\ua881in\ua8812023.\ua881Therefore,\ua881the\ua881carrying\ua881amounts\ua881are\ua881not\ua881directly\ua881comparable\ua881 \u00a0
with 2022. The difference in the carrying amount compared to last year is due to changes in exchange rates \u00a0
Annual \u00a0
Terminal \u00a0
Carrying \u00a0
revenue \u00a0
Discount \u00a0
Discount \u00a0
period \u00a0
DKK million \u00a0
amount \u00a0
growth rate
rate pre-tax
rate post-tax \u00a0
growth rate \u00a0
2022 \u00a0
SCALES \u00a0
114 \u00a0
10% \u00a0
10.9% \u00a0
8.5% \u00a0
2% \u00a0
Valiance Partners \u00a0
139 \u00a0
10-20% \u00a0
11.4% \u00a0
8.5% \u00a0
2% \u00a0
LS EU outside DK ex. Valiance \u00a0
(Prime4Services) \u00a0
77 \u00a0
8-13% \u00a0
10.9% \u00a0
8.5% \u00a0
2% \u00a0
LS EU outside DK ex. Valiance \u00a0
(HGP Group) \u00a0
66 \u00a0
8-13% \u00a0
10.9% \u00a0
8.5% \u00a0
2% \u00a0
Excellis \u00a0
210 \u00a0
10-20% \u00a0
11.4% \u00a0
8.5% \u00a0
2% \u00a0
SL Controls \u00a0
90 \u00a0
10-20% \u00a0
10.3% \u00a0
9.0% \u00a0
2% \u00a0
",
"dimensions": {
"concept": "ifrs-full:DisclosureOfImpairmentOfAssetsExplanatory",
"language": "en",
"entity": "scheme:549300KM8QVF7WR40664",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"fact1908": {
"value": "New Segment Reporting \u00a0
Segment performance is evaluated on the basis of \u00a0
the operating profit consistent with the consolidated \u00a0
financial statements. \u00a0
Operating segments are reported in a manner \u00a0
consistent with the internal reporting provided to \u00a0
Group Management and the Board of Directors. \u00a0
After the completion of the transformative divest- \u00a0
ment of the Group\u2019s infrastructure business, \u00a0
NNIT has changed its financial reporting format to \u00a0
reflect its new regional organization and to ensure \u00a0
consistency with internal reporting. Refer to note 2.1 \u00a0
Segment Information for further details. \u00a0
",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForSegmentReportingExplanatory",
"language": "en",
"entity": "scheme:549300KM8QVF7WR40664",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"fact1909": {
"value": "New Segment Reporting \u00a0
Segment performance is evaluated on the basis of \u00a0
the operating profit consistent with the consolidated \u00a0
financial statements. \u00a0
Operating segments are reported in a manner \u00a0
consistent with the internal reporting provided to \u00a0
Group Management and the Board of Directors. \u00a0
After the completion of the transformative divest- \u00a0
ment of the Group\u2019s infrastructure business, \u00a0
NNIT has changed its financial reporting format to \u00a0
reflect its new regional organization and to ensure \u00a0
consistency with internal reporting. Refer to note 2.1 \u00a0
Segment Information for further details. \u00a0
2.1 Segment
information \u00a0
Following the implementation of the new organization on May 2, 2023, NNIT consists of four regions, which \u00a0
individually can be considered an operating segment: \u00a0
\u2022
Region Denmark (excluding life sciences) \u00a0
\u2022
Region Europe (including life sciences in Denmark) \u00a0
\u2022
Region US \u00a0
\u2022
Region Asia \u00a0
The new regional structure has been introduced to increase customer proximity and enhance global coordina- \u00a0
tion across regions. From a financial perspective, the four regional P&Ls will include allocated corporate cost \u00a0
such as legal, human resources, finance and global delivery centers. A consolidation of the four regional P&Ls \u00a0
will constitute NNIT\u2019s group P&L and be supplemented by management commentary to provide increased \u00a0
transparency in respect of financial and business performance for each region. \u00a0
The operating segments reflect the internal reporting that is reviewed by the \u201cChief Operating Decision makers\u201d \u00a0
consisting of the Executive Management and the Board of Directors. The internal reporting includes commu- \u00a0
nication of revenue, costs and operating results for each of the operating segments. No reporting is made on \u00a0
assets. \u00a0
Region Denmark generated 42% of the revenue in the year ended December 31, 2023 (2022: 38%), Region \u00a0
Europe generated 27% of the revenue (2022: 31%) and Region US generated 22% in 2023 (2022: 21%) based on \u00a0
the location of the customer. \u00a0
Denmark generated 33% of the revenue in the year ended December 31, 2023 (2022: 40%) and the United \u00a0
States of America 25% in 2023 (2022:26%) based on the location of the customer \u00a0
The Novo Nordisk Group generated 10% of the continuing operations revenue in the year ended December 31, \u00a0
2023 (2022: 9%), whereof 41% relates to Region Europe (2022: 44%), 31% relates to Region Asia (2022: 28%) and \u00a0
26% relates to Region Denmark (2022: 24%). \u00a0
For depreciations and amortizations 48% relates to Region Denmark (2022: 39%), 32% relates to Region Europe \u00a0
(2022: 32%) and 20% relates to Region US (2022: 20%). \u00a0
65% of tangible assets relates to Region Denmark (2022: 100%). For intangible assets 56% relates to Denmark \u00a0
(2022: Region Denmark 56%) and 44% relates to US (2022: Region US 44%). \u00a0
Region \u00a0
Region \u00a0
Region \u00a0
Region \u00a0
DKK million \u00a0
Denmark \u00a0
Europe \u00a0
Asia \u00a0
US \u00a0
Total \u00a0
2023 \u00a0
Revenue \u00a0
732 \u00a0
465 \u00a0
144 \u00a0
387 \u00a0
1,728 \u00a0
Production cost \u00a0
566 \u00a0
330 \u00a0
135 \u00a0
252 \u00a0
1,283 \u00a0
Gross profit \u00a0
166 \u00a0
135 \u00a0
9
135 \u00a0
445 \u00a0
Gross profit Margin \u00a0
22.7% \u00a0
29.0% \u00a0
6.3% \u00a0
34.9% \u00a0
25.8% \u00a0
Regional operating profit \u00a0
133 \u00a0
78 \u00a0
(4) \u00a0
80 \u00a0
287 \u00a0
Regional operating profit margin \u00a0
18.2% \u00a0
16.8% \u00a0
(2.8)% \u00a0
20.7% \u00a0
16.6% \u00a0
Group operating profit1 \u00a0
60 \u00a0
32 \u00a0
(18) \u00a0
42 \u00a0
116 \u00a0
Group operating profit margin \u00a0
8.2% \u00a0
6.9% \u00a0
(12.5)% \u00a0
10.9% \u00a0
6.7% \u00a0
2022 \u00a0
Revenue \u00a0
564 \u00a0
468 \u00a0
157 \u00a0
311 \u00a0
1,500 \u00a0
Production cost \u00a0
369 \u00a0
364 \u00a0
134 \u00a0
225 \u00a0
1,092 \u00a0
Gross profit \u00a0
195 \u00a0
104 \u00a0
23 \u00a0
86 \u00a0
408 \u00a0
Gross profit Margin \u00a0
34.6% \u00a0
22.2% \u00a0
14.6% \u00a0
27.7% \u00a0
27.2% \u00a0
Regional operating profit \u00a0
138 \u00a0
41 \u00a0
11 \u00a0
52 \u00a0
242 \u00a0
Regional operating profit margin \u00a0
24.5% \u00a0
8.8% \u00a0
7.0% \u00a0
16.7% \u00a0
16.1% \u00a0
Group operating profit1 \u00a0
49 \u00a0
(33) \u00a0
(14) \u00a0
(9) \u00a0
(7) \u00a0
Group operating profit margin \u00a0
8.7% \u00a0
(7.1)% \u00a0
(8.9)% \u00a0
(2.9)% \u00a0
(0.5)% \u00a0
1\ua880\ua881When\ua881deducting\ua881speciel\ua881items\ua881and\ua881net\ua881financials\ua881consolidated\ua881profit\ua881before\ua881income\ua881taxes\ua881is\ua881obtained. \u00a0
",
"dimensions": {
"concept": "ifrs-full:DisclosureOfEntitysReportableSegmentsExplanatory",
"language": "en",
"entity": "scheme:549300KM8QVF7WR40664",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"fact1914": {
"value": "Discontinued operations \u00a0
On 28 April, NNIT completed the transformative \u00a0
divestment of the Group\u2019s infrastructure oper- \u00a0
ations. Discontinued operations (Hybrid Cloud \u00a0
Solutions and selected parts of Cloud & Digital \u00a0
Solutions) therefore covers the first four months of \u00a0
the financial year 2023. Discontinued operations \u00a0
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accounting judgement. Refer to note 1.4 General \u00a0
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Other accounting policies \u00a0
Continuing and Discontinued operations \u00a0
Separation of operations into continuing and \u00a0
discontinued operations is based on an identifica- \u00a0
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Shared costs are split based on allocation between \u00a0
the two categories based on estimates future split. \u00a0
An impairment loss is recognised for any initial or \u00a0
subsequent write-down of the asset to fair value \u00a0
less costs to sell. A gain is recognised for any subse- \u00a0
quent increases in fair value previously recognised. \u00a0
A gain or loss not previously recognised by the date \u00a0
of the sale of the non-current asset is recognised at \u00a0
the date of derecognition. \u00a0
Assets classified as held for sale \u00a0
Assets classified as held for sale comprise assets \u00a0
and liabilities for which it is highly likely that the \u00a0
value will be recovered through a sale within 12 \u00a0
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and liabilities classified as held for sale are meas- \u00a0
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\u201cheld for sale\u201d. Assets held for sale are not depre- \u00a0
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cation as \u201cheld for sale\u201d and gains and losses from \u00a0
the subsequent measurement is recognized in the \u00a0
income statement under the items they concern. \u00a0
On 22 June 2022 the Board of Directors announced \u00a0
its decision to divest its Hybrid Cloud Solutions busi- \u00a0
ness unit as well as select parts of its Cloud & Digital \u00a0
Solutions business unit to funds advised by Agilitas \u00a0
Private Equity LLP. The associated assets and liabil- \u00a0
ities have been evaluated at year end and found \u00a0
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3.9 Discontinued
operations \u00a0
June 22, 2022 it was announced that NNIT was divesting the infrastructure operations and in December 2022 it \u00a0
qualified for recognition as Discontinuing operations according to IFRS 5. \u00a0
DKK million \u00a0
2023 \u00a0
2022 \u00a0
Revenue \u00a0
504 \u00a0
1,451 \u00a0
Cost of goods sold \u00a0
405 \u00a0
1,244 \u00a0
Gross profit \u00a0
99 \u00a0
207 \u00a0
Sales and marketing costs \u00a0
15 \u00a0
71 \u00a0
Administrative expenses \u00a0
54 \u00a0
68 \u00a0
Operating profit before special items \u00a0
30 \u00a0
68 \u00a0
Gain from discontinuing operations \u00a0
76 \u00a0
-
Special items \u00a0
102 \u00a0
-
Operating profit/(loss) \u00a0
4
68 \u00a0
Financial income \u00a0
-
2
Financial expenses \u00a0
2
-
Profit/(loss) before income taxes \u00a0
2
70 \u00a0
Income taxes \u00a0
(22) \u00a0
14 \u00a0
Profit for the year of discontinued operations \u00a0
24 \u00a0
56 \u00a0
Earnings per share \u00a0
Earnings per share (DKK) \u00a0
0.96 \u00a0
2.25 \u00a0
Diluted earnings per share (DKK) \u00a0
0.96 \u00a0
2.24 \u00a0
Cash Flows from discontinued operations \u00a0
Cash flow from operating activities \u00a0
(97) \u00a0
106 \u00a0
Cash flow from investing activities \u00a0
904 \u00a0
(117) \u00a0
Cash flow from financing activities \u00a0
-
-
Cash flow from discontinued operations \u00a0
807 \u00a0
(11) \u00a0
Assets held for sale \u00a0
DKK million \u00a0
2023 \u00a0
2022 \u00a0
Intangible assets \u00a0
-
86 \u00a0
Tangible assets \u00a0
-
475 \u00a0
Deferred taxes \u00a0
-
12 \u00a0
Deposits \u00a0
-
7
Transition cost \u00a0
-
80 \u00a0
Trade receivables \u00a0
-
234 \u00a0
Work in progress \u00a0
-
82 \u00a0
Prepayments \u00a0
-
68 \u00a0
Assets classified as held for sale \u00a0
-
1,044 \u00a0
Employee benefit obligations \u00a0
-
1
Prepayments received, transition cost \u00a0
-
46 \u00a0
Prepayments received, work in progress \u00a0
-
30 \u00a0
Employee costs payables \u00a0
-
85 \u00a0
Tax payables \u00a0
-
15 \u00a0
Other current liabilities \u00a0
-
15 \u00a0
Liabilities directly associated with assets classified as held for sale \u00a0
-
192 \u00a0
Net assets classified as held for sale \u00a0
-
852 \u00a0
Assets and liabilities directly associated with assets classified as held for sale in 2022 solely relates to the \u00a0
discontinued operations in relation to Hybrid Cloud Solutions and selected parts of Cloud & Digital Solutions. \u00a0
Divestment of infrastructure business \u00a0
DKK million \u00a0
2023 \u00a0
Consideration received/receivable: \u00a0
Cash \u00a0
1,001 \u00a0
Fair value of contingent consideration \u00a0
200 \u00a0
Net working capital/Net interest bearing debt adj. and other adjustments \u00a0
(209) \u00a0
Sales price for discontinued operations incl. adjustments \u00a0
992 \u00a0
Transaction costs \u00a0
51 \u00a0
Sales price for discontinued operations, after transaction costs \u00a0
941 \u00a0
Carrying amount of net assets sold \u00a0
821 \u00a0
Gain on sale of discontinued operations before tax \u00a0
120 \u00a0
Tax on divestment \u00a0
44 \u00a0
Gain on sale of discontinued operations after tax \u00a0
76 \u00a0
Assets and liabilities in the business sold comprise of: \u00a0
Intangible assets \u00a0
102 \u00a0
Tangible assets \u00a0
501 \u00a0
Lease assets \u00a0
38 \u00a0
Deferred taxes \u00a0
1
Deposits \u00a0
7
Transition cost \u00a0
80 \u00a0
Trade receivables \u00a0
96 \u00a0
Work in progress \u00a0
28 \u00a0
Other receivables \u00a0
7
Prepayments \u00a0
114 \u00a0
Cash \u00a0
21 \u00a0
Total assets \u00a0
995 \u00a0
DKK million \u00a0
2023 \u00a0
Employee benefit obligations \u00a0
1
Lease liabilities \u00a0
34 \u00a0
Prepayments received, transition cost \u00a0
40 \u00a0
Prepayments received, work in progress \u00a0
16 \u00a0
Employee costs payables \u00a0
62 \u00a0
Tax payables \u00a0
2
Other current liabilities \u00a0
14 \u00a0
Provisions \u00a0
5
Total liabilities \u00a0
174 \u00a0
Net assets \u00a0
821 \u00a0
On 28 April, NNIT completed the transformative divestment of the Group\u2019s infrastructure operations to funds \u00a0
advised by Agilitas Private Equity LLP as initially described in company announcement no. 9/2022 on June 22, \u00a0
2022. \u00a0
Financial information relating to the discontinued operation is set out in the table. \u00a0
",
"dimensions": {
"concept": "ifrs-full:DisclosureOfDiscontinuedOperationsExplanatory",
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"entity": "scheme:549300KM8QVF7WR40664",
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},
"fact1915": {
"value": "Discontinued operations \u00a0
On 28 April, NNIT completed the transformative \u00a0
divestment of the Group\u2019s infrastructure oper- \u00a0
ations. Discontinued operations (Hybrid Cloud \u00a0
Solutions and selected parts of Cloud & Digital \u00a0
Solutions) therefore covers the first four months of \u00a0
the financial year 2023. Discontinued operations \u00a0
have been assessed in respect of IFRS 5 Discon- \u00a0
tinued operations, and it represents a significant \u00a0
accounting judgement. Refer to note 1.4 General \u00a0
accounting policies for further details. \u00a0
Assets classified as held for sale \u00a0
Assets classified as held for sale comprise assets \u00a0
and liabilities for which it is highly likely that the \u00a0
value will be recovered through a sale within 12 \u00a0
months rather than through continued use. Assets \u00a0
and liabilities classified as held for sale are meas- \u00a0
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value less cost to sell at the classification date as \u00a0
\u201cheld for sale\u201d. Assets held for sale are not depre- \u00a0
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cation as \u201cheld for sale\u201d and gains and losses from \u00a0
the subsequent measurement is recognized in the \u00a0
income statement under the items they concern. \u00a0
On 22 June 2022 the Board of Directors announced \u00a0
its decision to divest its Hybrid Cloud Solutions busi- \u00a0
ness unit as well as select parts of its Cloud & Digital \u00a0
Solutions business unit to funds advised by Agilitas \u00a0
Private Equity LLP. The associated assets and liabil- \u00a0
ities have been evaluated at year end and found \u00a0
eligible for the carve out and presented as held for \u00a0
sale in the 2022 financial statements. \u00a0
3.9 Discontinued
operations \u00a0
June 22, 2022 it was announced that NNIT was divesting the infrastructure operations and in December 2022 it \u00a0
qualified for recognition as Discontinuing operations according to IFRS 5. \u00a0
DKK million \u00a0
2023 \u00a0
2022 \u00a0
Revenue \u00a0
504 \u00a0
1,451 \u00a0
Cost of goods sold \u00a0
405 \u00a0
1,244 \u00a0
Gross profit \u00a0
99 \u00a0
207 \u00a0
Sales and marketing costs \u00a0
15 \u00a0
71 \u00a0
Administrative expenses \u00a0
54 \u00a0
68 \u00a0
Operating profit before special items \u00a0
30 \u00a0
68 \u00a0
Gain from discontinuing operations \u00a0
76 \u00a0
-
Special items \u00a0
102 \u00a0
-
Operating profit/(loss) \u00a0
4
68 \u00a0
Financial income \u00a0
-
2
Financial expenses \u00a0
2
-
Profit/(loss) before income taxes \u00a0
2
70 \u00a0
Income taxes \u00a0
(22) \u00a0
14 \u00a0
Profit for the year of discontinued operations \u00a0
24 \u00a0
56 \u00a0
Earnings per share \u00a0
Earnings per share (DKK) \u00a0
0.96 \u00a0
2.25 \u00a0
Diluted earnings per share (DKK) \u00a0
0.96 \u00a0
2.24 \u00a0
Cash Flows from discontinued operations \u00a0
Cash flow from operating activities \u00a0
(97) \u00a0
106 \u00a0
Cash flow from investing activities \u00a0
904 \u00a0
(117) \u00a0
Cash flow from financing activities \u00a0
-
-
Cash flow from discontinued operations \u00a0
807 \u00a0
(11) \u00a0
Assets held for sale \u00a0
DKK million \u00a0
2023 \u00a0
2022 \u00a0
Intangible assets \u00a0
-
86 \u00a0
Tangible assets \u00a0
-
475 \u00a0
Deferred taxes \u00a0
-
12 \u00a0
Deposits \u00a0
-
7
Transition cost \u00a0
-
80 \u00a0
Trade receivables \u00a0
-
234 \u00a0
Work in progress \u00a0
-
82 \u00a0
Prepayments \u00a0
-
68 \u00a0
Assets classified as held for sale \u00a0
-
1,044 \u00a0
Employee benefit obligations \u00a0
-
1
Prepayments received, transition cost \u00a0
-
46 \u00a0
Prepayments received, work in progress \u00a0
-
30 \u00a0
Employee costs payables \u00a0
-
85 \u00a0
Tax payables \u00a0
-
15 \u00a0
Other current liabilities \u00a0
-
15 \u00a0
Liabilities directly associated with assets classified as held for sale \u00a0
-
192 \u00a0
Net assets classified as held for sale \u00a0
-
852 \u00a0
Assets and liabilities directly associated with assets classified as held for sale in 2022 solely relates to the \u00a0
discontinued operations in relation to Hybrid Cloud Solutions and selected parts of Cloud & Digital Solutions. \u00a0
Divestment of infrastructure business \u00a0
DKK million \u00a0
2023 \u00a0
Consideration received/receivable: \u00a0
Cash \u00a0
1,001 \u00a0
Fair value of contingent consideration \u00a0
200 \u00a0
Net working capital/Net interest bearing debt adj. and other adjustments \u00a0
(209) \u00a0
Sales price for discontinued operations incl. adjustments \u00a0
992 \u00a0
Transaction costs \u00a0
51 \u00a0
Sales price for discontinued operations, after transaction costs \u00a0
941 \u00a0
Carrying amount of net assets sold \u00a0
821 \u00a0
Gain on sale of discontinued operations before tax \u00a0
120 \u00a0
Tax on divestment \u00a0
44 \u00a0
Gain on sale of discontinued operations after tax \u00a0
76 \u00a0
Assets and liabilities in the business sold comprise of: \u00a0
Intangible assets \u00a0
102 \u00a0
Tangible assets \u00a0
501 \u00a0
Lease assets \u00a0
38 \u00a0
Deferred taxes \u00a0
1
Deposits \u00a0
7
Transition cost \u00a0
80 \u00a0
Trade receivables \u00a0
96 \u00a0
Work in progress \u00a0
28 \u00a0
Other receivables \u00a0
7
Prepayments \u00a0
114 \u00a0
Cash \u00a0
21 \u00a0
Total assets \u00a0
995 \u00a0
DKK million \u00a0
2023 \u00a0
Employee benefit obligations \u00a0
1
Lease liabilities \u00a0
34 \u00a0
Prepayments received, transition cost \u00a0
40 \u00a0
Prepayments received, work in progress \u00a0
16 \u00a0
Employee costs payables \u00a0
62 \u00a0
Tax payables \u00a0
2
Other current liabilities \u00a0
14 \u00a0
Provisions \u00a0
5
Total liabilities \u00a0
174 \u00a0
Net assets \u00a0
821 \u00a0
On 28 April, NNIT completed the transformative divestment of the Group\u2019s infrastructure operations to funds \u00a0
advised by Agilitas Private Equity LLP as initially described in company announcement no. 9/2022 on June 22, \u00a0
2022. \u00a0
Financial information relating to the discontinued operation is set out in the table. \u00a0
",
"dimensions": {
"concept": "ifrs-full:DisclosureOfNoncurrentAssetsHeldForSaleAndDiscontinuedOperationsExplanatory",
"language": "en",
"entity": "scheme:549300KM8QVF7WR40664",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"fact1916": {
"value": "1.4 General
accounting policies \u00a0
Principles of consolidation \u00a0
The consolidated financial statements include the \u00a0
financial statements of NNIT A/S (parent company) \u00a0
and entities over which the Group has control. \u00a0
The Group controls an entity when the Group is \u00a0
exposed to, or has rights to, variable returns from \u00a0
its involvement with the entity and has the ability \u00a0
to affect those returns through its power over the \u00a0
entity. NNIT A/S and its subsidiaries are collectively \u00a0
referred to as the Group. \u00a0
The consolidated financial statements are based on \u00a0
the financial statements of the Parent Company and \u00a0
the subsidiaries, and are prepared by combining \u00a0
items of a similar nature and eliminating intercom- \u00a0
pany transactions, shareholdings, balances and \u00a0
unrealized intercompany profits and losses. The \u00a0
consolidated financial statements are based on \u00a0
financial statements of Group companies prepared \u00a0
in accordance with the Group\u2019s accounting policies. \u00a0
",
"dimensions": {
"concept": "ifrs-full:DisclosureOfBasisOfConsolidationExplanatory",
"language": "en",
"entity": "scheme:549300KM8QVF7WR40664",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"fact1927": {
"value": "Translation of foreign currency \u00a0
Functional currency and presentation currency \u00a0
The financial statement items for each of the \u00a0
Group\u2019s entities are measured in the currency used \u00a0
in the economic environment in which the entity \u00a0
operates (functional currency). \u00a0
The consolidated financial statements are \u00a0
presented in Danish kroner (DKK). \u00a0
Transactions and balance sheet \u00a0
Transactions in foreign currencies within the year \u00a0
are translated into the functional currency at the \u00a0
exchange rate at the transaction date. Receivables \u00a0
and liabilities in foreign currencies that have not \u00a0
been settled at the balance sheet date are trans- \u00a0
lated at the exchange rate at the balance sheet date. \u00a0
Realized and unrealized exchange rate adjustments \u00a0
are recognized in the income statement under \u00a0
\u201cfinancial income and expenses\u201d. \u00a0
Currency translation for foreign operations in the \u00a0
financial statements of foreign subsidiaries' balance \u00a0
sheet items are translated to Danish kroner (DKK) \u00a0
at the exchange rate at the balance sheet date, and \u00a0
income statement items are translated using the \u00a0
average exchange rate. \u00a0
Exchange differences arising from: \u00a0
\u2022
the translation of subsidiaries\u2019 net assets at the \u00a0
beginning of the financial year at exchange rates \u00a0
at the balance sheet date and \u00a0
\u2022
the translation of subsidiaries\u2019 income statements \u00a0
at exchange rates at the balance sheet date \u00a0
\u2022
exchange rate adjustments of loans, which are \u00a0
seen as part of the net investment in foreign \u00a0
subsidiaries \u00a0
are recognized in \u2018exchange rate adjustments\u2019 in \u00a0
other comprehensive income and presented in a \u00a0
separate reserve within equity. \u00a0
",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForForeignCurrencyTranslationExplanatory",
"language": "en",
"entity": "scheme:549300KM8QVF7WR40664",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"fact1928": {
"value": "Translation of foreign currency \u00a0
Functional currency and presentation currency \u00a0
The financial statement items for each of the \u00a0
Group\u2019s entities are measured in the currency used \u00a0
in the economic environment in which the entity \u00a0
operates (functional currency). \u00a0
The consolidated financial statements are \u00a0
presented in Danish kroner (DKK). \u00a0
",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForFunctionalCurrencyExplanatory",
"language": "en",
"entity": "scheme:549300KM8QVF7WR40664",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"fact1923": {
"value": "Acquisition of subsidiaries \u00a0
On acquisition of subsidiaries, the acquisition \u00a0
method is applied, and identifiable assets and liabil- \u00a0
ities are recognized and generally measured at fair \u00a0
value at the date control was achieved. \u00a0
Identifiable intangible assets are recognized if they \u00a0
can be separated, and the fair value can be reliably \u00a0
measured. Deferred tax on revaluations is recog- \u00a0
nized. \u00a0
Any positive differences between fair value of \u00a0
consideration transferred and fair value of net \u00a0
assets acquired on acquisition of subsidiaries are \u00a0
recognized as goodwill. Consideration transferred \u00a0
consists of shares, contingent consideration as well \u00a0
as cash and cash equivalents. \u00a0
Goodwill is not amortized but is tested annually for \u00a0
impairment. \u00a0
Transactions costs are recognized as operating \u00a0
costs as they have incurred. \u00a0
If the initial accounting for business combination \u00a0
can be determined only preliminary by the end of \u00a0
the period in which the combination is affected, \u00a0
adjustments made to the provisional fair value of \u00a0
acquired net assets or cost of the acquisition within \u00a0
12 months of the acquisition date are adjusted to \u00a0
the initial goodwill. \u00a0
Acquired entities are recognized in the consoli- \u00a0
dated financial statements at the date control was \u00a0
achieved. \u00a0
",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForBusinessCombinationsExplanatory",
"language": "en",
"entity": "scheme:549300KM8QVF7WR40664",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"fact1924": {
"value": "Acquisition of subsidiaries \u00a0
On acquisition of subsidiaries, the acquisition \u00a0
method is applied, and identifiable assets and liabil- \u00a0
ities are recognized and generally measured at fair \u00a0
value at the date control was achieved. \u00a0
Identifiable intangible assets are recognized if they \u00a0
can be separated, and the fair value can be reliably \u00a0
measured. Deferred tax on revaluations is recog- \u00a0
nized. \u00a0
Any positive differences between fair value of \u00a0
consideration transferred and fair value of net \u00a0
assets acquired on acquisition of subsidiaries are \u00a0
recognized as goodwill. Consideration transferred \u00a0
consists of shares, contingent consideration as well \u00a0
as cash and cash equivalents. \u00a0
Goodwill is not amortized but is tested annually for \u00a0
impairment. \u00a0
Transactions costs are recognized as operating \u00a0
costs as they have incurred. \u00a0
If the initial accounting for business combination \u00a0
can be determined only preliminary by the end of \u00a0
the period in which the combination is affected, \u00a0
adjustments made to the provisional fair value of \u00a0
acquired net assets or cost of the acquisition within \u00a0
12 months of the acquisition date are adjusted to \u00a0
the initial goodwill. \u00a0
Acquired entities are recognized in the consoli- \u00a0
dated financial statements at the date control was \u00a0
achieved. \u00a0
5.5 Acquisition of subsidiaries \u00a0
The fair value of net assets acquired and goodwill at the date of acquisition is summarized below: \u00a0
DKK million \u00a0
2023 \u00a0
2022 \u00a0
Acquisition cost \u00a0
Cash paid \u00a0
-
81 \u00a0
Deferred consideration \u00a0
-
6
Total acquisition cost \u00a0
-
87 \u00a0
Fair value of net assets acquired \u00a0
Intangible assets \u00a0
-
-
Other non-current assets \u00a0
-
-
Trade receivables and work in progress1 \u00a0
-
16 \u00a0
Tax receivable \u00a0
-
1
Cash and cash equivalents \u00a0
-
13 \u00a0
Loan from NNIT A/S \u00a0
-
(9) \u00a0
Non-current liabilities \u00a0
-
-
Employee costs payable \u00a0
-
(8) \u00a0
Other current liabilities \u00a0
-
(3) \u00a0
Net assets acquired \u00a0
-
10 \u00a0
Goodwill \u00a0
-
77 \u00a0
Acquisition cost \u00a0
-
87 \u00a0
Of which cash and cash equivalents \u00a0
-
(13) \u00a0
Deferred consideration \u00a0
-
(6) \u00a0
Paid acquisition cost, net \u00a0
-
68 \u00a0
1\ua880All\ua881contractual\ua881receivables\ua881are\ua881expected\ua881to\ua881be\ua881collected. \u00a0
Acquisitions during 2023 \u00a0
No acquisitions during 2023. \u00a0
Acquisitions during 2022 \u00a0
On March 11, 2022, NNIT acquired full ownership and control of Prime4Service (P4S), a company operating \u00a0
solely within the Life Science industry. \u00a0
",
"dimensions": {
"concept": "ifrs-full:DisclosureOfBusinessCombinationsExplanatory",
"language": "en",
"entity": "scheme:549300KM8QVF7WR40664",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"fact1925": {
"value": "Acquisition of subsidiaries \u00a0
On acquisition of subsidiaries, the acquisition \u00a0
method is applied, and identifiable assets and liabil- \u00a0
ities are recognized and generally measured at fair \u00a0
value at the date control was achieved. \u00a0
Identifiable intangible assets are recognized if they \u00a0
can be separated, and the fair value can be reliably \u00a0
measured. Deferred tax on revaluations is recog- \u00a0
nized. \u00a0
Any positive differences between fair value of \u00a0
consideration transferred and fair value of net \u00a0
assets acquired on acquisition of subsidiaries are \u00a0
recognized as goodwill. Consideration transferred \u00a0
consists of shares, contingent consideration as well \u00a0
as cash and cash equivalents. \u00a0
Goodwill is not amortized but is tested annually for \u00a0
impairment. \u00a0
Transactions costs are recognized as operating \u00a0
costs as they have incurred. \u00a0
If the initial accounting for business combination \u00a0
can be determined only preliminary by the end of \u00a0
the period in which the combination is affected, \u00a0
adjustments made to the provisional fair value of \u00a0
acquired net assets or cost of the acquisition within \u00a0
12 months of the acquisition date are adjusted to \u00a0
the initial goodwill. \u00a0
Acquired entities are recognized in the consoli- \u00a0
dated financial statements at the date control was \u00a0
achieved. \u00a0
",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForBusinessCombinationsAndGoodwillExplanatory",
"language": "en",
"entity": "scheme:549300KM8QVF7WR40664",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"fact1935": {
"value": "Costs \u00a0
Cost of goods sold \u00a0
The cost of goods sold comprises costs paid in \u00a0
order to generate revenue for the year, including \u00a0
amortization and depreciation, share-based \u00a0
compensation and salaries. \u00a0
2.2 Employee costs \u00a0
DKK million \u00a0
2023 \u00a0
2022 \u00a0
Employee costs comprise: \u00a0
Wages and salaries \u00a0
1,383 \u00a0
1,882 \u00a0
Share-based payments \u00a0
1
2
Pensions \u2013 defined contribution plans \u00a0
91 \u00a0
128 \u00a0
Pensions \u2013 defined benefit obligations (note 3.7) \u00a0
4
4
Other employee costs \u00a0
132 \u00a0
146 \u00a0
Total employee costs \u00a0
1,611 \u00a0
2,162 \u00a0
Total employee costs, discontinued operations \u00a0
347 \u00a0
794 \u00a0
Total employee costs, continuing operations \u00a0
1,264 \u00a0
1,368 \u00a0
Included in the income statement under the following headings: \u00a0
Cost of goods sold \u00a0
977 \u00a0
951 \u00a0
Sales and marketing costs \u00a0
56 \u00a0
69 \u00a0
Administrative expenses \u00a0
163 \u00a0
149 \u00a0
Special items \u00a0
68 \u00a0
199 \u00a0
Total employee costs \u00a0
1,264 \u00a0
1,368 \u00a0
Average number of full-time employees, total \u00a0
1,974 \u00a0
3,169 \u00a0
Average number of full-time employees, continuing \u00a0
1,773 \u00a0
1,809 \u00a0
2.3 Development costs \u00a0
DKK million \u00a0
2023 \u00a0
2022 \u00a0
Costs for development of new projects, not eligible for \u00a0
recognition in the balance sheet are charged immediately \u00a0
to the income statement: \u00a0
Cost of goods sold \u00a0
14 \u00a0
8
Total development costs \u00a0
14 \u00a0
8
2.4 Amortization, depreciation and impairment losses \u00a0
DKK million \u00a0
2023 \u00a0
2022 \u00a0
Amortization \u00a0
-
29 \u00a0
Depreciation \u00a0
33 \u00a0
180 \u00a0
Impairment losses \u00a0
-
13 \u00a0
Total amortization, depreciation, and impairment losses \u00a0
33 \u00a0
222 \u00a0
Total amortization, depreciation, and impairment losses, \u00a0
discontinued operations \u00a0
5
154 \u00a0
Total amortization, depreciation, and impairment losses, \u00a0
continuing operations \u00a0
28 \u00a0
68 \u00a0
Amortization, depreciation and impairment losses are \u00a0
recognized in the income statement: \u00a0
Cost of goods sold \u00a0
7
14 \u00a0
Sales and marketing costs \u00a0
1
1
Administrative expenses \u00a0
20 \u00a0
39 \u00a0
Special items \u00a0
-
14 \u00a0
Total amortization, depreciation, and impairment losses \u00a0
28 \u00a0
68 \u00a0
Share-based payments are recognized at the following amounts: \u00a0
DKK million \u00a0
2023 \u00a0
2022 \u00a0
Long-term incentive program (LTIP) in NNIT shares - share based \u00a0
1
1
Incentive program charged to income statement \u00a0
1
1
Recognized in the income statement: \u00a0
Cost of goods sold \u00a0
1
1
Total \u00a0
1
1
",
"dimensions": {
"concept": "ifrs-full:DisclosureOfCostOfSalesExplanatory",
"language": "en",
"entity": "scheme:549300KM8QVF7WR40664",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"fact1936": {
"value": "Costs \u00a0
Cost of goods sold \u00a0
The cost of goods sold comprises costs paid in \u00a0
order to generate revenue for the year, including \u00a0
amortization and depreciation, share-based \u00a0
compensation and salaries. \u00a0
Sales and marketing costs \u00a0
Sales and marketing costs comprise costs in the \u00a0
form of salaries and share-based compensation for \u00a0
sales and marketing staff, advertising costs, and \u00a0
amortization and depreciation. \u00a0
Administrative expenses \u00a0
Administrative expenses comprise costs in the \u00a0
form of share-based compensation and salaries for \u00a0
administrative staff and amortization and depreci- \u00a0
ation. \u00a0
Special Items \u00a0
Special items comprise costs or income that cannot \u00a0
be attributed directly to the Group\u2019s ordinary activ- \u00a0
ities and are non-recurring of nature. Such costs \u00a0
and income include the cost related to significant \u00a0
restructuring of the cost base and processes as \u00a0
well as restructuring costs related to resignation of \u00a0
employees. Further special items include significant \u00a0
cost related to M&A activities, redundancy cost \u00a0
related to members of Group Management, impair- \u00a0
ment of assets and gains and losses regarding \u00a0
disposal of activities or subsidiaries. \u00a0
Special items are shown separately in the Group to \u00a0
give a true and fair presentation of the Group\u2019s ordi- \u00a0
nary operations. \u00a0
2.2 Employee costs \u00a0
DKK million \u00a0
2023 \u00a0
2022 \u00a0
Employee costs comprise: \u00a0
Wages and salaries \u00a0
1,383 \u00a0
1,882 \u00a0
Share-based payments \u00a0
1
2
Pensions \u2013 defined contribution plans \u00a0
91 \u00a0
128 \u00a0
Pensions \u2013 defined benefit obligations (note 3.7) \u00a0
4
4
Other employee costs \u00a0
132 \u00a0
146 \u00a0
Total employee costs \u00a0
1,611 \u00a0
2,162 \u00a0
Total employee costs, discontinued operations \u00a0
347 \u00a0
794 \u00a0
Total employee costs, continuing operations \u00a0
1,264 \u00a0
1,368 \u00a0
Included in the income statement under the following headings: \u00a0
Cost of goods sold \u00a0
977 \u00a0
951 \u00a0
Sales and marketing costs \u00a0
56 \u00a0
69 \u00a0
Administrative expenses \u00a0
163 \u00a0
149 \u00a0
Special items \u00a0
68 \u00a0
199 \u00a0
Total employee costs \u00a0
1,264 \u00a0
1,368 \u00a0
Average number of full-time employees, total \u00a0
1,974 \u00a0
3,169 \u00a0
Average number of full-time employees, continuing \u00a0
1,773 \u00a0
1,809 \u00a0
Remuneration of Board of Directors and Group Management \u00a0
The current policy for the remuneration of the Board of Directors and Executive Management was adopted in \u00a0
2022 and sets out the general guidelines for the remuneration of the Group\u2019s management. The guidelines for \u00a0
the remuneration of the Board of Directors and Executive Management are available on NNIT\u2019s website. \u00a0
In addition to the disclosures provided in this note, more details on the remuneration of Executive Management \u00a0
and Directors are provided in the separate Remuneration report, which is not a part of the audited financial \u00a0
statements. The report is also available on NNIT\u2019s website. \u00a0
Board of Directors remuneration \u00a0
DKK million \u00a0
2023 \u00a0
2022 \u00a0
Ordinary board member fee \u00a0
3.6 \u00a0
3.5 \u00a0
Audit Committee \u00a0
0.3 \u00a0
0.3 \u00a0
Remuneration Committee \u00a0
0.2 \u00a0
0.2 \u00a0
Total fee to Board of Directors \u00a0
4.1 \u00a0
4.0 \u00a0
Group Management's remuneration and share-based payment \u00a0
2023 \u00a0
Other \u00a0
members \u00a0
Executive \u00a0
of Group \u00a0
DKK million \u00a0
Management Management \u00a0
Total \u00a0
Base salary \u00a0
7.4 \u00a0
13.6 \u00a0
21.0 \u00a0
Cash Bonus (STIP and employee benefit cost)1 \u00a0
4.1 \u00a0
7.3 \u00a0
11.4 \u00a0
One off bonus \u00a0
3.4 \u00a0
6.0 \u00a0
9.4 \u00a0
Remuneration in connection with redundancy, \u00a0
resignations and release from duty to work \u00a0
-
11.6 \u00a0
11.6 \u00a0
Pension \u00a0
0.4 \u00a0
1.6 \u00a0
2.0 \u00a0
Benefits \u00a0
0.4 \u00a0
1.3 \u00a0
1.7 \u00a0
Share-based incentives 2 \u00a0
-
0.3 \u00a0
0.3 \u00a0
Group Management total \u00a0
15.7 \u00a0
41.7 \u00a0
57.4 \u00a0
1\ua880\ua881Employee\ua881benefit\ua881cost\ua881(contingent\ua881consideration\ua881agreement)\ua881related\ua881to\ua881the\ua881acquisition\ua881of\ua881Excellis\ua881Health\ua881Solutions.\ua881Following\ua881a\ua881decision\ua881 \u00a0
by the Danish Business Authority concerning accounting treatment of Employee benefit cost (earn-out payment) related to acquisitions, \u00a0
these payments are to be considered and expensed as salary. NNIT has appealed this decision. \u00a0
2\ua880Includes\ua881the\ua881annually\ua881recognized\ua881expense\ua881on\ua881granted\ua881share\ua881based\ua881and\ua881launch\ua881incentive\ua881programmes,\ua881which\ua881are\ua881not\ua881released. \u00a0
2022 \u00a0
Other \u00a0
members \u00a0
Executive \u00a0
of Group \u00a0
DKK million \u00a0
Management Management \u00a0
Total \u00a0
Base salary \u00a0
7.6 \u00a0
6.5 \u00a0
14.1 \u00a0
Cash Bonus (STIP and one-off) \u00a0
1.9 \u00a0
1.1 \u00a0
3.0 \u00a0
One off bonus \u00a0
2.1 \u00a0
0.4 \u00a0
2.5 \u00a0
Remuneration in connection with redundancy, \u00a0
resignations and release from duty to work \u00a0
-
0.6 \u00a0
0.6 \u00a0
Pension \u00a0
0.5 \u00a0
0.8 \u00a0
1.3 \u00a0
Benefits \u00a0
0.4 \u00a0
0.3 \u00a0
0.7 \u00a0
Group Management total \u00a0
12.5 \u00a0
9.7 \u00a0
22.2 \u00a0
Short-term incentive program (STIP) \u00a0
Group Management and certain other employees participate in a STIP program, which entitles each participant \u00a0
to receive an annual performance-based cash bonus, linked to the achievement of a number of predefined \u00a0
functional and individual business targets. Performance is measured for each financial year and the cash-based \u00a0
incentives, if any, are paid after announcement of the annual report for the subsequent year. \u00a0
Long-term incentive program (LTIP) \u00a0
LTIP is designed to promote the collective performance of Group Management and Vice Presidents to align the \u00a0
interests of executives and shareholders. \u00a0
The program is based on earnings, before interest and tax compared to the targeted level. In addition, the real- \u00a0
ized free cash flow compared to the targeted level is taken into consideration. \u00a0
NNIT's Board of Directors approves the financial targets for the coming year, ensuring that the short-term \u00a0
targets are aligned with NNIT's long-term targets and strategy. \u00a0
The allocation under LTIP for the CEO cannot exceed the equivalent of ten months\u2019 fixed base salary including \u00a0
pension contribution, and the allocation for the CFO cannot exceed the equivalent of eight months of such \u00a0
person's fixed base salary including pension contribution. The allocation for the other members of Group \u00a0
Management cannot exceed the equivalent of six months fixed base salary including pension contribution. A \u00a0
fixed and predefined number of shares will be allocated to Vice Presidents. \u00a0
The shares allocated to the members of Group Management that are fully vested, will be released to the indi- \u00a0
vidual participants subsequent to the approval of the Annual Report 2023 by the Board of Directors. \u00a0
Based on the share price at the end of 2023, the value of the released shares is as follows: \u00a0
Number \u00a0
Market \u00a0
DKK million \u00a0
of shares \u00a0
value \u00a0
Values at December 31, 2023 of shares to be released February 19, 2024 \u00a0
P\u00e4r Fors \u00a0
-
-
Carsten Ringius \u00a0
-
-
Executive Management \u00a0
-
-
Other members of Group Management \u00a0
3,130 \u00a0
0.3 \u00a0
Group Management total \u00a0
3,130 \u00a0
0.3 \u00a0
Please refer to note 5.1 for an overview of outstanding RSU\u2019s. \u00a0
2.3 Development costs \u00a0
DKK million \u00a0
2023 \u00a0
2022 \u00a0
Costs for development of new projects, not eligible for \u00a0
recognition in the balance sheet are charged immediately \u00a0
to the income statement: \u00a0
Cost of goods sold \u00a0
14 \u00a0
8
Total development costs \u00a0
14 \u00a0
8
2.4 Amortization, depreciation and impairment losses \u00a0
DKK million \u00a0
2023 \u00a0
2022 \u00a0
Amortization \u00a0
-
29 \u00a0
Depreciation \u00a0
33 \u00a0
180 \u00a0
Impairment losses \u00a0
-
13 \u00a0
Total amortization, depreciation, and impairment losses \u00a0
33 \u00a0
222 \u00a0
Total amortization, depreciation, and impairment losses, \u00a0
discontinued operations \u00a0
5
154 \u00a0
Total amortization, depreciation, and impairment losses, \u00a0
continuing operations \u00a0
28 \u00a0
68 \u00a0
Amortization, depreciation and impairment losses are \u00a0
recognized in the income statement: \u00a0
Cost of goods sold \u00a0
7
14 \u00a0
Sales and marketing costs \u00a0
1
1
Administrative expenses \u00a0
20 \u00a0
39 \u00a0
Special items \u00a0
-
14 \u00a0
Total amortization, depreciation, and impairment losses \u00a0
28 \u00a0
68 \u00a0
2.5 Special items \u00a0
DKK million \u00a0
2023 \u00a0
2022 \u00a0
Special items relates to: \u00a0
Impairment of assets \u00a0
-
13 \u00a0
Gain from subleases \u00a0
(15) \u00a0
-
Employee benefit cost (contingent consideration agreement) \u00a0
52 \u00a0
56 \u00a0
Restructuring cost \u00a0
31 \u00a0
126 \u00a0
Cost regarding acquisition and disposal of operations \u00a0
103 \u00a0
83 \u00a0
Total special items \u00a0
171 \u00a0
278 \u00a0
Total special items, discontinued operations \u00a0
102 \u00a0
-
Total special items, continuing operations \u00a0
69 \u00a0
278 \u00a0
If special items had been recognized in operating profit \u00a0
before special items, they would have been included in \u00a0
the following line items: \u00a0
\u2013 Cost of goods sold \u00a0
3
206 \u00a0
\u2013 Sales and marketing costs \u00a0
-
-
\u2013 Administrative expenses \u00a0
66 \u00a0
72 \u00a0
Total special items \u00a0
69 \u00a0
278 \u00a0
",
"dimensions": {
"concept": "ifrs-full:DisclosureOfExpensesExplanatory",
"language": "en",
"entity": "scheme:549300KM8QVF7WR40664",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"fact1937": {
"value": "Costs \u00a0
Cost of goods sold \u00a0
The cost of goods sold comprises costs paid in \u00a0
order to generate revenue for the year, including \u00a0
amortization and depreciation, share-based \u00a0
compensation and salaries. \u00a0
Sales and marketing costs \u00a0
Sales and marketing costs comprise costs in the \u00a0
form of salaries and share-based compensation for \u00a0
sales and marketing staff, advertising costs, and \u00a0
amortization and depreciation. \u00a0
Administrative expenses \u00a0
Administrative expenses comprise costs in the \u00a0
form of share-based compensation and salaries for \u00a0
administrative staff and amortization and depreci- \u00a0
ation. \u00a0
Special Items \u00a0
Special items comprise costs or income that cannot \u00a0
be attributed directly to the Group\u2019s ordinary activ- \u00a0
ities and are non-recurring of nature. Such costs \u00a0
and income include the cost related to significant \u00a0
restructuring of the cost base and processes as \u00a0
well as restructuring costs related to resignation of \u00a0
employees. Further special items include significant \u00a0
cost related to M&A activities, redundancy cost \u00a0
related to members of Group Management, impair- \u00a0
ment of assets and gains and losses regarding \u00a0
disposal of activities or subsidiaries. \u00a0
Special items are shown separately in the Group to \u00a0
give a true and fair presentation of the Group\u2019s ordi- \u00a0
nary operations. \u00a0
",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForExpensesExplanatory",
"language": "en",
"entity": "scheme:549300KM8QVF7WR40664",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"fact1944": {
"value": "Administrative expenses \u00a0
Administrative expenses comprise costs in the \u00a0
form of share-based compensation and salaries for \u00a0
administrative staff and amortization and depreci- \u00a0
ation. \u00a0
2.2 Employee costs \u00a0
DKK million \u00a0
2023 \u00a0
2022 \u00a0
Employee costs comprise: \u00a0
Wages and salaries \u00a0
1,383 \u00a0
1,882 \u00a0
Share-based payments \u00a0
1
2
Pensions \u2013 defined contribution plans \u00a0
91 \u00a0
128 \u00a0
Pensions \u2013 defined benefit obligations (note 3.7) \u00a0
4
4
Other employee costs \u00a0
132 \u00a0
146 \u00a0
Total employee costs \u00a0
1,611 \u00a0
2,162 \u00a0
Total employee costs, discontinued operations \u00a0
347 \u00a0
794 \u00a0
Total employee costs, continuing operations \u00a0
1,264 \u00a0
1,368 \u00a0
Included in the income statement under the following headings: \u00a0
Cost of goods sold \u00a0
977 \u00a0
951 \u00a0
Sales and marketing costs \u00a0
56 \u00a0
69 \u00a0
Administrative expenses \u00a0
163 \u00a0
149 \u00a0
Special items \u00a0
68 \u00a0
199 \u00a0
Total employee costs \u00a0
1,264 \u00a0
1,368 \u00a0
Average number of full-time employees, total \u00a0
1,974 \u00a0
3,169 \u00a0
Average number of full-time employees, continuing \u00a0
1,773 \u00a0
1,809 \u00a0
2.4 Amortization, depreciation and impairment losses \u00a0
DKK million \u00a0
2023 \u00a0
2022 \u00a0
Amortization \u00a0
-
29 \u00a0
Depreciation \u00a0
33 \u00a0
180 \u00a0
Impairment losses \u00a0
-
13 \u00a0
Total amortization, depreciation, and impairment losses \u00a0
33 \u00a0
222 \u00a0
Total amortization, depreciation, and impairment losses, \u00a0
discontinued operations \u00a0
5
154 \u00a0
Total amortization, depreciation, and impairment losses, \u00a0
continuing operations \u00a0
28 \u00a0
68 \u00a0
Amortization, depreciation and impairment losses are \u00a0
recognized in the income statement: \u00a0
Cost of goods sold \u00a0
7
14 \u00a0
Sales and marketing costs \u00a0
1
1
Administrative expenses \u00a0
20 \u00a0
39 \u00a0
Special items \u00a0
-
14 \u00a0
Total amortization, depreciation, and impairment losses \u00a0
28 \u00a0
68 \u00a0
",
"dimensions": {
"concept": "ifrs-full:DisclosureOfGeneralAndAdministrativeExpenseExplanatory",
"language": "en",
"entity": "scheme:549300KM8QVF7WR40664",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"fact1920": {
"value": "Other accounting policies \u00a0
Continuing and Discontinued operations \u00a0
Separation of operations into continuing and \u00a0
discontinued operations is based on an identifica- \u00a0
tion of contracts and revenues, direct employees \u00a0
and costs as well as identification of time spend \u00a0
by employees in one category related to the other. \u00a0
Shared costs are split based on allocation between \u00a0
the two categories based on estimates future split. \u00a0
An impairment loss is recognised for any initial or \u00a0
subsequent write-down of the asset to fair value \u00a0
less costs to sell. A gain is recognised for any subse- \u00a0
quent increases in fair value previously recognised. \u00a0
A gain or loss not previously recognised by the date \u00a0
of the sale of the non-current asset is recognised at \u00a0
the date of derecognition. \u00a0
Assets classified as held for sale \u00a0
Assets classified as held for sale comprise assets \u00a0
and liabilities for which it is highly likely that the \u00a0
value will be recovered through a sale within 12 \u00a0
months rather than through continued use. Assets \u00a0
and liabilities classified as held for sale are meas- \u00a0
ured at the lower of the carrying amount and fair \u00a0
value less cost to sell at the classification date as \u00a0
\u201cheld for sale\u201d. Assets held for sale are not depre- \u00a0
ciated. Impairment losses arising on first classifi- \u00a0
cation as \u201cheld for sale\u201d and gains and losses from \u00a0
the subsequent measurement is recognized in the \u00a0
income statement under the items they concern. \u00a0
On 22 June 2022 the Board of Directors announced \u00a0
its decision to divest its Hybrid Cloud Solutions busi- \u00a0
ness unit as well as select parts of its Cloud & Digital \u00a0
Solutions business unit to funds advised by Agilitas \u00a0
Private Equity LLP. The associated assets and liabil- \u00a0
ities have been evaluated at year end and found \u00a0
eligible for the carve out and presented as held for \u00a0
sale in the 2022 financial statements. \u00a0
",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForDiscontinuedOperationsExplanatory",
"language": "en",
"entity": "scheme:549300KM8QVF7WR40664",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"fact1948": {
"value": "Special Items \u00a0
Special items comprise costs or income that cannot \u00a0
be attributed directly to the Group\u2019s ordinary activ- \u00a0
ities and are non-recurring of nature. Such costs \u00a0
and income include the cost related to significant \u00a0
restructuring of the cost base and processes as \u00a0
well as restructuring costs related to resignation of \u00a0
employees. Further special items include significant \u00a0
cost related to M&A activities, redundancy cost \u00a0
related to members of Group Management, impair- \u00a0
ment of assets and gains and losses regarding \u00a0
disposal of activities or subsidiaries. \u00a0
Special items are shown separately in the Group to \u00a0
give a true and fair presentation of the Group\u2019s ordi- \u00a0
nary operations. \u00a0
2.5 Special items \u00a0
DKK million \u00a0
2023 \u00a0
2022 \u00a0
Special items relates to: \u00a0
Impairment of assets \u00a0
-
13 \u00a0
Gain from subleases \u00a0
(15) \u00a0
-
Employee benefit cost (contingent consideration agreement) \u00a0
52 \u00a0
56 \u00a0
Restructuring cost \u00a0
31 \u00a0
126 \u00a0
Cost regarding acquisition and disposal of operations \u00a0
103 \u00a0
83 \u00a0
Total special items \u00a0
171 \u00a0
278 \u00a0
Total special items, discontinued operations \u00a0
102 \u00a0
-
Total special items, continuing operations \u00a0
69 \u00a0
278 \u00a0
If special items had been recognized in operating profit \u00a0
before special items, they would have been included in \u00a0
the following line items: \u00a0
\u2013 Cost of goods sold \u00a0
3
206 \u00a0
\u2013 Sales and marketing costs \u00a0
-
-
\u2013 Administrative expenses \u00a0
66 \u00a0
72 \u00a0
Total special items \u00a0
69 \u00a0
278 \u00a0
",
"dimensions": {
"concept": "nnit:DisclosureOfSpecialItems",
"language": "en",
"entity": "scheme:549300KM8QVF7WR40664",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"fact1949": {
"value": "Special Items \u00a0
Special items comprise costs or income that cannot \u00a0
be attributed directly to the Group\u2019s ordinary activ- \u00a0
ities and are non-recurring of nature. Such costs \u00a0
and income include the cost related to significant \u00a0
restructuring of the cost base and processes as \u00a0
well as restructuring costs related to resignation of \u00a0
employees. Further special items include significant \u00a0
cost related to M&A activities, redundancy cost \u00a0
related to members of Group Management, impair- \u00a0
ment of assets and gains and losses regarding \u00a0
disposal of activities or subsidiaries. \u00a0
Special items are shown separately in the Group to \u00a0
give a true and fair presentation of the Group\u2019s ordi- \u00a0
nary operations. \u00a0
",
"dimensions": {
"concept": "nnit:DescriptionOfAccountingPolicyForSpecialItems",
"language": "en",
"entity": "scheme:549300KM8QVF7WR40664",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"fact1950": {
"value": "Financial items \u00a0
Financial income and expenses comprise interest, \u00a0
realized and unrealized gains and losses from \u00a0
exchange rate adjustments, fair value adjustments \u00a0
on forward contracts and the cumulative value \u00a0
adjustment of these instruments transferred from \u00a0
the hedging reserve within equity. \u00a0
Interest income is recognized on an accrual basis \u00a0
according to the effective interest rate method. \u00a0
",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForFinanceCostsExplanatory",
"language": "en",
"entity": "scheme:549300KM8QVF7WR40664",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"fact1951": {
"value": "Financial items \u00a0
Financial income and expenses comprise interest, \u00a0
realized and unrealized gains and losses from \u00a0
exchange rate adjustments, fair value adjustments \u00a0
on forward contracts and the cumulative value \u00a0
adjustment of these instruments transferred from \u00a0
the hedging reserve within equity. \u00a0
Interest income is recognized on an accrual basis \u00a0
according to the effective interest rate method. \u00a0
4.1 Financial
income and expenses \u00a0
DKK million \u00a0
2023 \u00a0
2022 \u00a0
Financial income \u00a0
Fair value adjustments of cash flow hedges (net) \u00a0
recycled\ua881from\ua881other comprehensive\ua881income \u00a0
-
21 \u00a0
Realized/unrealized loss on currency \u00a0
-
2
Interest income \u00a0
15 \u00a0
-
Tax related interests \u00a0
1
-
Total financial income \u00a0
16 \u00a0
23 \u00a0
Total financial income, dicontinued operations \u00a0
-
2
Total financial income, continuing operations \u00a0
16 \u00a0
21 \u00a0
Financial expenses \u00a0
Realized/unrealized loss on currency \u00a0
4
-
Interest expenses lease liability \u00a0
2
4
Interest expenses \u00a0
32 \u00a0
12 \u00a0
Bank charges and other fees \u00a0
10 \u00a0
10 \u00a0
Guarantee commission \u00a0
-
1
Other financial expenses \u00a0
-
3
Total financial expenses \u00a0
48 \u00a0
30 \u00a0
Total financial expenses, dicontinued operations \u00a0
2
-
Total financial expenses, continuing operations \u00a0
46 \u00a0
30 \u00a0
",
"dimensions": {
"concept": "ifrs-full:DisclosureOfFinanceCostExplanatory",
"language": "en",
"entity": "scheme:549300KM8QVF7WR40664",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"fact1952": {
"value": "Financial items \u00a0
Financial income and expenses comprise interest, \u00a0
realized and unrealized gains and losses from \u00a0
exchange rate adjustments, fair value adjustments \u00a0
on forward contracts and the cumulative value \u00a0
adjustment of these instruments transferred from \u00a0
the hedging reserve within equity. \u00a0
Interest income is recognized on an accrual basis \u00a0
according to the effective interest rate method. \u00a0
4.1 Financial
income and expenses \u00a0
DKK million \u00a0
2023 \u00a0
2022 \u00a0
Financial income \u00a0
Fair value adjustments of cash flow hedges (net) \u00a0
recycled\ua881from\ua881other comprehensive\ua881income \u00a0
-
21 \u00a0
Realized/unrealized loss on currency \u00a0
-
2
Interest income \u00a0
15 \u00a0
-
Tax related interests \u00a0
1
-
Total financial income \u00a0
16 \u00a0
23 \u00a0
Total financial income, dicontinued operations \u00a0
-
2
Total financial income, continuing operations \u00a0
16 \u00a0
21 \u00a0
Financial expenses \u00a0
Realized/unrealized loss on currency \u00a0
4
-
Interest expenses lease liability \u00a0
2
4
Interest expenses \u00a0
32 \u00a0
12 \u00a0
Bank charges and other fees \u00a0
10 \u00a0
10 \u00a0
Guarantee commission \u00a0
-
1
Other financial expenses \u00a0
-
3
Total financial expenses \u00a0
48 \u00a0
30 \u00a0
Total financial expenses, dicontinued operations \u00a0
2
-
Total financial expenses, continuing operations \u00a0
46 \u00a0
30 \u00a0
",
"dimensions": {
"concept": "ifrs-full:DisclosureOfFinanceIncomeExplanatory",
"language": "en",
"entity": "scheme:549300KM8QVF7WR40664",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"fact1953": {
"value": "Financial items \u00a0
Financial income and expenses comprise interest, \u00a0
realized and unrealized gains and losses from \u00a0
exchange rate adjustments, fair value adjustments \u00a0
on forward contracts and the cumulative value \u00a0
adjustment of these instruments transferred from \u00a0
the hedging reserve within equity. \u00a0
Interest income is recognized on an accrual basis \u00a0
according to the effective interest rate method. \u00a0
4.1 Financial
income and expenses \u00a0
DKK million \u00a0
2023 \u00a0
2022 \u00a0
Financial income \u00a0
Fair value adjustments of cash flow hedges (net) \u00a0
recycled\ua881from\ua881other comprehensive\ua881income \u00a0
-
21 \u00a0
Realized/unrealized loss on currency \u00a0
-
2
Interest income \u00a0
15 \u00a0
-
Tax related interests \u00a0
1
-
Total financial income \u00a0
16 \u00a0
23 \u00a0
Total financial income, dicontinued operations \u00a0
-
2
Total financial income, continuing operations \u00a0
16 \u00a0
21 \u00a0
Financial expenses \u00a0
Realized/unrealized loss on currency \u00a0
4
-
Interest expenses lease liability \u00a0
2
4
Interest expenses \u00a0
32 \u00a0
12 \u00a0
Bank charges and other fees \u00a0
10 \u00a0
10 \u00a0
Guarantee commission \u00a0
-
1
Other financial expenses \u00a0
-
3
Total financial expenses \u00a0
48 \u00a0
30 \u00a0
Total financial expenses, dicontinued operations \u00a0
2
-
Total financial expenses, continuing operations \u00a0
46 \u00a0
30 \u00a0
",
"dimensions": {
"concept": "ifrs-full:DisclosureOfFinanceIncomeExpenseExplanatory",
"language": "en",
"entity": "scheme:549300KM8QVF7WR40664",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"fact1954": {
"value": "Financial items \u00a0
Financial income and expenses comprise interest, \u00a0
realized and unrealized gains and losses from \u00a0
exchange rate adjustments, fair value adjustments \u00a0
on forward contracts and the cumulative value \u00a0
adjustment of these instruments transferred from \u00a0
the hedging reserve within equity. \u00a0
Interest income is recognized on an accrual basis \u00a0
according to the effective interest rate method. \u00a0
",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForInterestIncomeAndExpenseExplanatory",
"language": "en",
"entity": "scheme:549300KM8QVF7WR40664",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"fact1955": {
"value": "Financial items \u00a0
Financial income and expenses comprise interest, \u00a0
realized and unrealized gains and losses from \u00a0
exchange rate adjustments, fair value adjustments \u00a0
on forward contracts and the cumulative value \u00a0
adjustment of these instruments transferred from \u00a0
the hedging reserve within equity. \u00a0
Interest income is recognized on an accrual basis \u00a0
according to the effective interest rate method. \u00a0
4.1 Financial
income and expenses \u00a0
DKK million \u00a0
2023 \u00a0
2022 \u00a0
Financial income \u00a0
Fair value adjustments of cash flow hedges (net) \u00a0
recycled\ua881from\ua881other comprehensive\ua881income \u00a0
-
21 \u00a0
Realized/unrealized loss on currency \u00a0
-
2
Interest income \u00a0
15 \u00a0
-
Tax related interests \u00a0
1
-
Total financial income \u00a0
16 \u00a0
23 \u00a0
Total financial income, dicontinued operations \u00a0
-
2
Total financial income, continuing operations \u00a0
16 \u00a0
21 \u00a0
Financial expenses \u00a0
Realized/unrealized loss on currency \u00a0
4
-
Interest expenses lease liability \u00a0
2
4
Interest expenses \u00a0
32 \u00a0
12 \u00a0
Bank charges and other fees \u00a0
10 \u00a0
10 \u00a0
Guarantee commission \u00a0
-
1
Other financial expenses \u00a0
-
3
Total financial expenses \u00a0
48 \u00a0
30 \u00a0
Total financial expenses, dicontinued operations \u00a0
2
-
Total financial expenses, continuing operations \u00a0
46 \u00a0
30 \u00a0
",
"dimensions": {
"concept": "ifrs-full:DisclosureOfInterestExpenseExplanatory",
"language": "en",
"entity": "scheme:549300KM8QVF7WR40664",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"fact1956": {
"value": "Financial items \u00a0
Financial income and expenses comprise interest, \u00a0
realized and unrealized gains and losses from \u00a0
exchange rate adjustments, fair value adjustments \u00a0
on forward contracts and the cumulative value \u00a0
adjustment of these instruments transferred from \u00a0
the hedging reserve within equity. \u00a0
Interest income is recognized on an accrual basis \u00a0
according to the effective interest rate method. \u00a0
4.1 Financial
income and expenses \u00a0
DKK million \u00a0
2023 \u00a0
2022 \u00a0
Financial income \u00a0
Fair value adjustments of cash flow hedges (net) \u00a0
recycled\ua881from\ua881other comprehensive\ua881income \u00a0
-
21 \u00a0
Realized/unrealized loss on currency \u00a0
-
2
Interest income \u00a0
15 \u00a0
-
Tax related interests \u00a0
1
-
Total financial income \u00a0
16 \u00a0
23 \u00a0
Total financial income, dicontinued operations \u00a0
-
2
Total financial income, continuing operations \u00a0
16 \u00a0
21 \u00a0
Financial expenses \u00a0
Realized/unrealized loss on currency \u00a0
4
-
Interest expenses lease liability \u00a0
2
4
Interest expenses \u00a0
32 \u00a0
12 \u00a0
Bank charges and other fees \u00a0
10 \u00a0
10 \u00a0
Guarantee commission \u00a0
-
1
Other financial expenses \u00a0
-
3
Total financial expenses \u00a0
48 \u00a0
30 \u00a0
Total financial expenses, dicontinued operations \u00a0
2
-
Total financial expenses, continuing operations \u00a0
46 \u00a0
30 \u00a0
",
"dimensions": {
"concept": "ifrs-full:DisclosureOfInterestIncomeExplanatory",
"language": "en",
"entity": "scheme:549300KM8QVF7WR40664",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"fact1957": {
"value": "Financial items \u00a0
Financial income and expenses comprise interest, \u00a0
realized and unrealized gains and losses from \u00a0
exchange rate adjustments, fair value adjustments \u00a0
on forward contracts and the cumulative value \u00a0
adjustment of these instruments transferred from \u00a0
the hedging reserve within equity. \u00a0
Interest income is recognized on an accrual basis \u00a0
according to the effective interest rate method. \u00a0
4.1 Financial
income and expenses \u00a0
DKK million \u00a0
2023 \u00a0
2022 \u00a0
Financial income \u00a0
Fair value adjustments of cash flow hedges (net) \u00a0
recycled\ua881from\ua881other comprehensive\ua881income \u00a0
-
21 \u00a0
Realized/unrealized loss on currency \u00a0
-
2
Interest income \u00a0
15 \u00a0
-
Tax related interests \u00a0
1
-
Total financial income \u00a0
16 \u00a0
23 \u00a0
Total financial income, dicontinued operations \u00a0
-
2
Total financial income, continuing operations \u00a0
16 \u00a0
21 \u00a0
Financial expenses \u00a0
Realized/unrealized loss on currency \u00a0
4
-
Interest expenses lease liability \u00a0
2
4
Interest expenses \u00a0
32 \u00a0
12 \u00a0
Bank charges and other fees \u00a0
10 \u00a0
10 \u00a0
Guarantee commission \u00a0
-
1
Other financial expenses \u00a0
-
3
Total financial expenses \u00a0
48 \u00a0
30 \u00a0
Total financial expenses, dicontinued operations \u00a0
2
-
Total financial expenses, continuing operations \u00a0
46 \u00a0
30 \u00a0
",
"dimensions": {
"concept": "ifrs-full:DisclosureOfInterestIncomeExpenseExplanatory",
"language": "en",
"entity": "scheme:549300KM8QVF7WR40664",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"fact1959": {
"value": "Financial items \u00a0
Financial income and expenses comprise interest, \u00a0
realized and unrealized gains and losses from \u00a0
exchange rate adjustments, fair value adjustments \u00a0
on forward contracts and the cumulative value \u00a0
adjustment of these instruments transferred from \u00a0
the hedging reserve within equity. \u00a0
Interest income is recognized on an accrual basis \u00a0
according to the effective interest rate method. \u00a0
",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForFinanceIncomeAndCostsExplanatory",
"language": "en",
"entity": "scheme:549300KM8QVF7WR40664",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"fact1960": {
"value": "Tax \u00a0
Income tax comprises current tax and deferred \u00a0
tax for the year, and is recognized as follows: The \u00a0
amount that can be allocated to the net profit for \u00a0
the year is recognized in the income statement, and \u00a0
the amount that relates to items recognized in other \u00a0
comprehensive income and/or equity respectively \u00a0
is recognized in other comprehensive income and/ \u00a0
or equity. \u00a0
Deferred tax is measured according to the balance \u00a0
sheet-based liability method on all temporary differ- \u00a0
ences between the carrying amount and tax base of \u00a0
assets and liabilities. \u00a0
Deferred tax assets are recognized in the balance \u00a0
sheet under non-current assets. \u00a0
Deferred tax liabilities are recognized in the balance \u00a0
sheet under non-current liabilities. \u00a0
Deferred tax is measured on the basis of the tax \u00a0
rules and tax rates that according to current legis- \u00a0
lation at the balance sheet date will apply at the \u00a0
time of the expected realization of the deferred \u00a0
tax asset or settlement of the deferred tax liability. \u00a0
Any changes to deferred tax caused by changes in \u00a0
statutory tax rates are recognized in the income \u00a0
statement. \u00a0
For Danish tax purposes, NNIT A/S and SCALES A/S \u00a0
is assessed jointly with the Novo Group. Income tax \u00a0
is allocated between the companies in proportion to \u00a0
their taxable incomes (full allocation with compen- \u00a0
sation concerning tax losses). The jointly assessed \u00a0
companies are included in the Tax Prepayment \u00a0
Scheme. \u00a0
",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForIncomeTaxExplanatory",
"language": "en",
"entity": "scheme:549300KM8QVF7WR40664",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"fact1961": {
"value": "Tax \u00a0
Income tax comprises current tax and deferred \u00a0
tax for the year, and is recognized as follows: The \u00a0
amount that can be allocated to the net profit for \u00a0
the year is recognized in the income statement, and \u00a0
the amount that relates to items recognized in other \u00a0
comprehensive income and/or equity respectively \u00a0
is recognized in other comprehensive income and/ \u00a0
or equity. \u00a0
Deferred tax is measured according to the balance \u00a0
sheet-based liability method on all temporary differ- \u00a0
ences between the carrying amount and tax base of \u00a0
assets and liabilities. \u00a0
Deferred tax assets are recognized in the balance \u00a0
sheet under non-current assets. \u00a0
Deferred tax liabilities are recognized in the balance \u00a0
sheet under non-current liabilities. \u00a0
Deferred tax is measured on the basis of the tax \u00a0
rules and tax rates that according to current legis- \u00a0
lation at the balance sheet date will apply at the \u00a0
time of the expected realization of the deferred \u00a0
tax asset or settlement of the deferred tax liability. \u00a0
Any changes to deferred tax caused by changes in \u00a0
statutory tax rates are recognized in the income \u00a0
statement. \u00a0
For Danish tax purposes, NNIT A/S and SCALES A/S \u00a0
is assessed jointly with the Novo Group. Income tax \u00a0
is allocated between the companies in proportion to \u00a0
their taxable incomes (full allocation with compen- \u00a0
sation concerning tax losses). The jointly assessed \u00a0
companies are included in the Tax Prepayment \u00a0
Scheme. \u00a0
",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForDeferredIncomeTaxExplanatory",
"language": "en",
"entity": "scheme:549300KM8QVF7WR40664",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"fact1962": {
"value": "Tax \u00a0
Income tax comprises current tax and deferred \u00a0
tax for the year, and is recognized as follows: The \u00a0
amount that can be allocated to the net profit for \u00a0
the year is recognized in the income statement, and \u00a0
the amount that relates to items recognized in other \u00a0
comprehensive income and/or equity respectively \u00a0
is recognized in other comprehensive income and/ \u00a0
or equity. \u00a0
Deferred tax is measured according to the balance \u00a0
sheet-based liability method on all temporary differ- \u00a0
ences between the carrying amount and tax base of \u00a0
assets and liabilities. \u00a0
Deferred tax assets are recognized in the balance \u00a0
sheet under non-current assets. \u00a0
Deferred tax liabilities are recognized in the balance \u00a0
sheet under non-current liabilities. \u00a0
Deferred tax is measured on the basis of the tax \u00a0
rules and tax rates that according to current legis- \u00a0
lation at the balance sheet date will apply at the \u00a0
time of the expected realization of the deferred \u00a0
tax asset or settlement of the deferred tax liability. \u00a0
Any changes to deferred tax caused by changes in \u00a0
statutory tax rates are recognized in the income \u00a0
statement. \u00a0
For Danish tax purposes, NNIT A/S and SCALES A/S \u00a0
is assessed jointly with the Novo Group. Income tax \u00a0
is allocated between the companies in proportion to \u00a0
their taxable incomes (full allocation with compen- \u00a0
sation concerning tax losses). The jointly assessed \u00a0
companies are included in the Tax Prepayment \u00a0
Scheme. \u00a0
2.6 Income taxes \u00a0
DKK million \u00a0
2023 \u00a0
2022 \u00a0
Current tax \u00a0
67 \u00a0
(40) \u00a0
Deferred tax \u00a0
(31) \u00a0
12 \u00a0
Adjustments recognized for current tax of prior periods \u00a0
25 \u00a0
10 \u00a0
Adjustments recognized for deferred tax of prior periods \u00a0
(28) \u00a0
(4) \u00a0
Income taxes in the income statement \u00a0
33 \u00a0
(22) \u00a0
Income taxes in the income statement, discontinued operations \u00a0
22 \u00a0
14 \u00a0
Income taxes in the income statement, continuing operations \u00a0
11 \u00a0
(36) \u00a0
Computation of effective tax rate, continuing operations: \u00a0
Statutory corporate income tax rate in Denmark \u00a0
22.0% \u00a0
22.0% \u00a0
Deviation in foreign subsidiaries' tax rates compared to \u00a0
Danish tax rate (net) \u00a0
3.3% \u00a0
(0.2%) \u00a0
Adjustment of current and deferred tax regarding previous years \u00a0
(17.6%) \u00a0
(2.0%) \u00a0
Other adjustments to taxable income \u00a0
57.0% \u00a0
(7.6%) \u00a0
Effective tax rate \u00a0
64.7% \u00a0
12.2% \u00a0
Tax on other comprehensive income for the year \u00a0
2
3
Tax on other comprehensive income for the year relates to tax on exchange rate adjustments and deferred tax \u00a0
on share-based payments. \u00a0
Due to the ownership of Novo Holding A/S, NNIT is within the scope of the OECD Pillar Two model rules. The \u00a0
Pillar Two legislation will have effect from the financial year starting from 1 January 2024. No material tax expo- \u00a0
sure is expected. Furthermore, the Group applies the exception to recognising and disclosing information \u00a0
about deferred tax assets and liabilities related to Pillar Two income taxes, as provided in the amendments to \u00a0
IAS 12 issued in May 2023. \u00a0
DKK million \u00a0
2023 \u00a0
2022 \u00a0
Tax (payable)/receivable \u00a0
Tax (payable)/receivable at the beginning of the year \u00a0
72 \u00a0
45 \u00a0
Disposals related to divestment of infrastructure business \u00a0
2
1
Income tax paid/(received) during the year \u00a0
11 \u00a0
18 \u00a0
Tax paid/(received) related to previous years \u00a0
(45) \u00a0
(21) \u00a0
Withholding taxes paid/(received) during the year \u00a0
(2) \u00a0
(1) \u00a0
Current tax on profit for the year \u00a0
(67) \u00a0
40 \u00a0
Adjustments related to previous years \u00a0
(25) \u00a0
(10) \u00a0
Exchange rate adjustment \u00a0
(1) \u00a0
-
Tax (payable)/receivable at the end of the year \u00a0
(55) \u00a0
72 \u00a0
Tax (payable)/receivables, discontinued operations \u00a0
-
(15) \u00a0
Tax (payable)/receivables, continuing operations \u00a0
(55) \u00a0
87 \u00a0
Tax payable/receivables are recognized in the balance sheet \u00a0
as follows: \u00a0
Tax receivables \u00a0
10 \u00a0
113 \u00a0
Tax payable \u00a0
(70) \u00a0
(33) \u00a0
Tax on other comprehensive income \u00a0
5
7
Total tax \u00a0
(55) \u00a0
87 \u00a0
Net taxes received in 2023 for continuing and discontinued operations amounted to DKK 36 million and were paid/(received) as follows: \u00a0
DKK million \u00a0
CH \u00a0
CN \u00a0
CZ \u00a0
DK \u00a0
DE \u00a0
ES \u00a0
GB \u00a0
IE \u00a0
IT \u00a0
PH \u00a0
PL \u00a0
SG \u00a0
US \u00a0
Total \u00a0
Income tax paid during the year \u00a0
-
-
1
1
3
-
2
2
1
1
-
-
-
11 \u00a0
Tax paid related to previous years \u00a0
2
1
-
(50) \u00a0
-
-
2
-
-
-
-
-
-
(45) \u00a0
Withholding taxes paid during the year \u00a0
-
-
-
(2) \u00a0
-
-
-
-
-
-
-
-
-
(2) \u00a0
Total \u00a0
2
1
1
(51) \u00a0
3
-
4
2
1
1
-
-
-
(36) \u00a0
Effective tax rate \u00a0
11.6% \u00a0
29.7% \u00a0
24.0% \u00a0
13.4% \u00a0
31.5% \u00a0
25.0% \u00a0
23.4% \u00a0
18.2% \u00a0
35.1% \u00a0
26.9% \u00a0
0.0% \u00a0
17.7% \u00a0
29.0% \u00a0
",
"dimensions": {
"concept": "ifrs-full:DisclosureOfIncomeTaxExplanatory",
"language": "en",
"entity": "scheme:549300KM8QVF7WR40664",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"fact1963": {
"value": "Tax \u00a0
Income tax comprises current tax and deferred \u00a0
tax for the year, and is recognized as follows: The \u00a0
amount that can be allocated to the net profit for \u00a0
the year is recognized in the income statement, and \u00a0
the amount that relates to items recognized in other \u00a0
comprehensive income and/or equity respectively \u00a0
is recognized in other comprehensive income and/ \u00a0
or equity. \u00a0
Deferred tax is measured according to the balance \u00a0
sheet-based liability method on all temporary differ- \u00a0
ences between the carrying amount and tax base of \u00a0
assets and liabilities. \u00a0
Deferred tax assets are recognized in the balance \u00a0
sheet under non-current assets. \u00a0
Deferred tax liabilities are recognized in the balance \u00a0
sheet under non-current liabilities. \u00a0
Deferred tax is measured on the basis of the tax \u00a0
rules and tax rates that according to current legis- \u00a0
lation at the balance sheet date will apply at the \u00a0
time of the expected realization of the deferred \u00a0
tax asset or settlement of the deferred tax liability. \u00a0
Any changes to deferred tax caused by changes in \u00a0
statutory tax rates are recognized in the income \u00a0
statement. \u00a0
For Danish tax purposes, NNIT A/S and SCALES A/S \u00a0
is assessed jointly with the Novo Group. Income tax \u00a0
is allocated between the companies in proportion to \u00a0
their taxable incomes (full allocation with compen- \u00a0
sation concerning tax losses). The jointly assessed \u00a0
companies are included in the Tax Prepayment \u00a0
Scheme. \u00a0
Lease \u00a0
Intangible \u00a0
Tangible \u00a0
Current \u00a0
receivables \u00a0
Share based \u00a0
Cash flow \u00a0
DKK million \u00a0
assets \u00a0
assets \u00a0
assets \u00a0
and liabilities \u00a0
programs \u00a0
hedges \u00a0
Provisions \u00a0
Tax losses \u00a0
Total \u00a0
2023 \u00a0
Deferred tax asset \u00a0
At the beginning of the year \u00a0
(12) \u00a0
-
(19) \u00a0
12 \u00a0
(1) \u00a0
-
21 \u00a0
6
7
Transferred from taxes directly associated with assets and \u00a0
liabilities held for sale \u00a0
(15) \u00a0
33 \u00a0
(12) \u00a0
-
-
-
6
-
12 \u00a0
Adjustments related to previous years1 \u00a0
(2) \u00a0
-
30 \u00a0
-
-
-
2
(2) \u00a0
28 \u00a0
Movements within the year \u00a0
11 \u00a0
(12) \u00a0
11 \u00a0
(8) \u00a0
1
-
32 \u00a0
(4) \u00a0
31 \u00a0
Movements in other comprehensive income \u00a0
-
-
-
-
-
-
-
-
-
At the end of the year \u00a0
(18) \u00a0
21 \u00a0
10 \u00a0
4
-
-
61 \u00a0
-
78 \u00a0
1\ua880Adjustments\ua881related\ua881to\ua881previous\ua881years\ua881is\ua881mainly\ua881regarding\ua881an\ua881adjustment\ua881of\ua881work\ua881in\ua881progress. \u00a0
2022 \u00a0
Deferred tax asset \u00a0
At the beginning of the year \u00a0
(27) \u00a0
40 \u00a0
(30) \u00a0
10 \u00a0
(1) \u00a0
(2) \u00a0
36 \u00a0
-
26 \u00a0
Adjustments related to previous years \u00a0
5
-
-
2
-
-
(3) \u00a0
-
4
Movements within the year \u00a0
(5) \u00a0
(7) \u00a0
(1) \u00a0
-
(5) \u00a0
6
(12) \u00a0
Movements in other comprehensive income \u00a0
-
-
-
-
-
2
(1) \u00a0
-
1
Transfered to taxes directly associated with assets \u00a0
and liabilities held for sale \u00a0
15 \u00a0
(33) \u00a0
12 \u00a0
-
(6) \u00a0
(12) \u00a0
At the end of the year \u00a0
(12) \u00a0
-
(19) \u00a0
12 \u00a0
(1) \u00a0
-
21 \u00a0
6
7
",
"dimensions": {
"concept": "ifrs-full:DisclosureOfDeferredTaxesExplanatory",
"language": "en",
"entity": "scheme:549300KM8QVF7WR40664",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"fact1998": {
"value": "Intangible assets \u00a0
Goodwill \u00a0
Goodwill arising from business combinations \u00a0
is recognized and measured as the difference \u00a0
between the total of the fair value of the considera- \u00a0
tion transferred compared to the fair value of identi- \u00a0
fiable net assets on the date of acquisition. \u00a0
Goodwill is not amortized, but the carrying amount \u00a0
is tested at relevant cash generating unit level \u00a0
(CGU-level) for impairment once a year. \u00a0
Goodwill is written down to its recoverable amount \u00a0
through the income statement if lower than the \u00a0
carrying amount. \u00a0
The recoverable amount is determined as the \u00a0
present value of the discounted future net cash \u00a0
flow from the activities goodwill relates to. In calcu- \u00a0
lating the present value, discount rates are applied \u00a0
reflecting the riskfree interest rate with the addition \u00a0
of risks relating to the individual CGU. \u00a0
IT development projects \u00a0
IT development projects are clearly specified and \u00a0
identifiable projects under development for internal \u00a0
and external use for which the technical feasibility \u00a0
of completing the development project has been \u00a0
demonstrated and resources are available within \u00a0
NNIT. \u00a0
Any development projects that do not meet the \u00a0
criteria for capitalization in the balance sheet are \u00a0
recognized as costs. \u00a0
Development costs meeting the criteria for capital- \u00a0
iztion are measured at cost less accumulated amor- \u00a0
tization and any impairment losses. Development \u00a0
costs include salaries, amortization and deprecia- \u00a0
tion and other costs that can be directly attributed \u00a0
to NNIT development activities. \u00a0
Development costs recognized in the balance sheet \u00a0
are amortized from completion of the development \u00a0
using the straight-line method, over the period the \u00a0
asset is expected to generate economic benefits. \u00a0
Straight-line amortization over the expected useful \u00a0
life of the asset: \u00a0
\u2022
IT projects: 5-10 years \u00a0
Intangible assets that are in use and subject to \u00a0
amortization are tested for impairment whenever \u00a0
events or changes in circumstances indicate that the \u00a0
carrying amount may not be recoverable. Factors \u00a0
that could trigger an impairment test include \u00a0
changes in the economic lifes of similar assets or \u00a0
the relationship with other intangible assets or \u00a0
tangible assets. \u00a0
Intangible assets under construction are tested for \u00a0
impairment once a year. \u00a0
If the carrying amount of intangible assets exceeds \u00a0
the recoverable amount based upon the above indi- \u00a0
cators of impairment, any impairment loss is meas- \u00a0
ured based on discounted future cash flows. \u00a0
",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForIntangibleAssetsAndGoodwillExplanatory",
"language": "en",
"entity": "scheme:549300KM8QVF7WR40664",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"fact1999": {
"value": "Intangible assets \u00a0
Goodwill \u00a0
Goodwill arising from business combinations \u00a0
is recognized and measured as the difference \u00a0
between the total of the fair value of the considera- \u00a0
tion transferred compared to the fair value of identi- \u00a0
fiable net assets on the date of acquisition. \u00a0
Goodwill is not amortized, but the carrying amount \u00a0
is tested at relevant cash generating unit level \u00a0
(CGU-level) for impairment once a year. \u00a0
Goodwill is written down to its recoverable amount \u00a0
through the income statement if lower than the \u00a0
carrying amount. \u00a0
The recoverable amount is determined as the \u00a0
present value of the discounted future net cash \u00a0
flow from the activities goodwill relates to. In calcu- \u00a0
lating the present value, discount rates are applied \u00a0
reflecting the riskfree interest rate with the addition \u00a0
of risks relating to the individual CGU. \u00a0
IT development projects \u00a0
IT development projects are clearly specified and \u00a0
identifiable projects under development for internal \u00a0
and external use for which the technical feasibility \u00a0
of completing the development project has been \u00a0
demonstrated and resources are available within \u00a0
NNIT. \u00a0
Any development projects that do not meet the \u00a0
criteria for capitalization in the balance sheet are \u00a0
recognized as costs. \u00a0
Development costs meeting the criteria for capital- \u00a0
iztion are measured at cost less accumulated amor- \u00a0
tization and any impairment losses. Development \u00a0
costs include salaries, amortization and deprecia- \u00a0
tion and other costs that can be directly attributed \u00a0
to NNIT development activities. \u00a0
Development costs recognized in the balance sheet \u00a0
are amortized from completion of the development \u00a0
using the straight-line method, over the period the \u00a0
asset is expected to generate economic benefits. \u00a0
Straight-line amortization over the expected useful \u00a0
life of the asset: \u00a0
\u2022
IT projects: 5-10 years \u00a0
Intangible assets that are in use and subject to \u00a0
amortization are tested for impairment whenever \u00a0
events or changes in circumstances indicate that the \u00a0
carrying amount may not be recoverable. Factors \u00a0
that could trigger an impairment test include \u00a0
changes in the economic lifes of similar assets or \u00a0
the relationship with other intangible assets or \u00a0
tangible assets. \u00a0
Intangible assets under construction are tested for \u00a0
impairment once a year. \u00a0
If the carrying amount of intangible assets exceeds \u00a0
the recoverable amount based upon the above indi- \u00a0
cators of impairment, any impairment loss is meas- \u00a0
ured based on discounted future cash flows. \u00a0
3.1 Intangible
assets \u00a0
Other \u00a0
IT \u00a0
IT development \u00a0
intangible \u00a0
development \u00a0
projects under \u00a0
DKK million \u00a0
Goodwill \u00a0
assets \u00a0
projects \u00a0
construction \u00a0
2023 \u00a0
2023 \u00a0
Costs at the beginning of the year \u00a0
696 \u00a0
37 \u00a0
67 \u00a0
2
802 \u00a0
Additions \u00a0
-
-
9
15 \u00a0
24 \u00a0
Disposals1 \u00a0
-
-
(72) \u00a0
-
(72) \u00a0
Transfer \u00a0
-
-
2
(2) \u00a0
-
Exchange rate adjustment \u00a0
(10) \u00a0
-
-
-
(10) \u00a0
Cost at the end of the year \u00a0
686 \u00a0
37 \u00a0
6
15 \u00a0
744 \u00a0
Amortization and impairment loss at the beginning of the year \u00a0
-
37 \u00a0
59 \u00a0
-
96 \u00a0
Amortization \u00a0
-
-
-
-
-
Amortizations reversed on disposals2 \u00a0
-
-
(56) \u00a0
-
(56) \u00a0
Exchange rate adjustment \u00a0
-
-
-
-
-
Amortization and impairment losses at the end of the year \u00a0
-
37 \u00a0
3
-
40 \u00a0
Carrying amount at the end of the year \u00a0
686 \u00a0
-
3
15 \u00a0
704 \u00a0
Amortization period \u00a0
2-5 years \u00a0
3-5 years \u00a0
1\ua880Whereof\ua881DKK\ua88126\ua881Million\ua881relates\ua881to\ua881discontinued\ua881operations. \u00a0
2- Whereof DKK 10 Million relates to discontinued operations. \u00a0
IT development projects includes NNIT's ERP system which is used as the basis for the Group's day-to-day operations and internal IT-systems \u00a0
and developed applications for customer services. \u00a0
IT development projects under construction consists of both internal IT-systems and developed applications for customer services. \u00a0
Other \u00a0
IT \u00a0
IT development \u00a0
intangible \u00a0
development \u00a0
projects under \u00a0
DKK million \u00a0
Goodwill \u00a0
assets \u00a0
projects \u00a0
construction \u00a0
2022 \u00a0
2022 \u00a0
Costs at the beginning of the year \u00a0
600 \u00a0
37 \u00a0
164 \u00a0
27 \u00a0
828 \u00a0
Additions \u00a0
78 \u00a0
-
4
19 \u00a0
101 \u00a0
Transfer \u00a0
-
-
24 \u00a0
(24) \u00a0
-
Transferred to assets classified as held for sale \u00a0
-
-
(125) \u00a0
(20) \u00a0
(145) \u00a0
Exchange rate adjustment \u00a0
18 \u00a0
-
-
-
18 \u00a0
Cost at the end of the year \u00a0
696 \u00a0
37 \u00a0
67 \u00a0
2
802 \u00a0
Amortization and impairment loss at the beginning of the year \u00a0
-
35 \u00a0
90 \u00a0
-
125 \u00a0
Amortization \u00a0
-
1
28 \u00a0
-
29 \u00a0
Transferred to assets classified as held for sale \u00a0
-
-
(59) \u00a0
-
(59) \u00a0
Exchange rate adjustment \u00a0
-
1
-
-
1
Amortization and impairment losses at the end of the year \u00a0
-
37 \u00a0
59 \u00a0
-
96 \u00a0
Carrying amount at the end of the year \u00a0
696 \u00a0
-
8
2
706 \u00a0
Amortization period \u00a0
2-5 years \u00a0
3-5 years \u00a0
IT development projects includes NNIT's ERP system which is used as the basis for the Group's day-to-day operations and internal IT-systems \u00a0
and developed applications for customer services. \u00a0
IT development projects under construction consists of both internal IT-systems and developed applications for customer services. \u00a0
",
"dimensions": {
"concept": "ifrs-full:DisclosureOfIntangibleAssetsAndGoodwillExplanatory",
"language": "en",
"entity": "scheme:549300KM8QVF7WR40664",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"fact2000": {
"value": "Intangible assets \u00a0
Goodwill \u00a0
Goodwill arising from business combinations \u00a0
is recognized and measured as the difference \u00a0
between the total of the fair value of the considera- \u00a0
tion transferred compared to the fair value of identi- \u00a0
fiable net assets on the date of acquisition. \u00a0
Goodwill is not amortized, but the carrying amount \u00a0
is tested at relevant cash generating unit level \u00a0
(CGU-level) for impairment once a year. \u00a0
Goodwill is written down to its recoverable amount \u00a0
through the income statement if lower than the \u00a0
carrying amount. \u00a0
The recoverable amount is determined as the \u00a0
present value of the discounted future net cash \u00a0
flow from the activities goodwill relates to. In calcu- \u00a0
lating the present value, discount rates are applied \u00a0
reflecting the riskfree interest rate with the addition \u00a0
of risks relating to the individual CGU. \u00a0
IT development projects \u00a0
IT development projects are clearly specified and \u00a0
identifiable projects under development for internal \u00a0
and external use for which the technical feasibility \u00a0
of completing the development project has been \u00a0
demonstrated and resources are available within \u00a0
NNIT. \u00a0
Any development projects that do not meet the \u00a0
criteria for capitalization in the balance sheet are \u00a0
recognized as costs. \u00a0
Development costs meeting the criteria for capital- \u00a0
iztion are measured at cost less accumulated amor- \u00a0
tization and any impairment losses. Development \u00a0
costs include salaries, amortization and deprecia- \u00a0
tion and other costs that can be directly attributed \u00a0
to NNIT development activities. \u00a0
Development costs recognized in the balance sheet \u00a0
are amortized from completion of the development \u00a0
using the straight-line method, over the period the \u00a0
asset is expected to generate economic benefits. \u00a0
Straight-line amortization over the expected useful \u00a0
life of the asset: \u00a0
\u2022
IT projects: 5-10 years \u00a0
Intangible assets that are in use and subject to \u00a0
amortization are tested for impairment whenever \u00a0
events or changes in circumstances indicate that the \u00a0
carrying amount may not be recoverable. Factors \u00a0
that could trigger an impairment test include \u00a0
changes in the economic lifes of similar assets or \u00a0
the relationship with other intangible assets or \u00a0
tangible assets. \u00a0
Intangible assets under construction are tested for \u00a0
impairment once a year. \u00a0
If the carrying amount of intangible assets exceeds \u00a0
the recoverable amount based upon the above indi- \u00a0
cators of impairment, any impairment loss is meas- \u00a0
ured based on discounted future cash flows. \u00a0
3.1 Intangible
assets \u00a0
Other \u00a0
IT \u00a0
IT development \u00a0
intangible \u00a0
development \u00a0
projects under \u00a0
DKK million \u00a0
Goodwill \u00a0
assets \u00a0
projects \u00a0
construction \u00a0
2023 \u00a0
2023 \u00a0
Costs at the beginning of the year \u00a0
696 \u00a0
37 \u00a0
67 \u00a0
2
802 \u00a0
Additions \u00a0
-
-
9
15 \u00a0
24 \u00a0
Disposals1 \u00a0
-
-
(72) \u00a0
-
(72) \u00a0
Transfer \u00a0
-
-
2
(2) \u00a0
-
Exchange rate adjustment \u00a0
(10) \u00a0
-
-
-
(10) \u00a0
Cost at the end of the year \u00a0
686 \u00a0
37 \u00a0
6
15 \u00a0
744 \u00a0
Amortization and impairment loss at the beginning of the year \u00a0
-
37 \u00a0
59 \u00a0
-
96 \u00a0
Amortization \u00a0
-
-
-
-
-
Amortizations reversed on disposals2 \u00a0
-
-
(56) \u00a0
-
(56) \u00a0
Exchange rate adjustment \u00a0
-
-
-
-
-
Amortization and impairment losses at the end of the year \u00a0
-
37 \u00a0
3
-
40 \u00a0
Carrying amount at the end of the year \u00a0
686 \u00a0
-
3
15 \u00a0
704 \u00a0
Amortization period \u00a0
2-5 years \u00a0
3-5 years \u00a0
1\ua880Whereof\ua881DKK\ua88126\ua881Million\ua881relates\ua881to\ua881discontinued\ua881operations. \u00a0
2- Whereof DKK 10 Million relates to discontinued operations. \u00a0
IT development projects includes NNIT's ERP system which is used as the basis for the Group's day-to-day operations and internal IT-systems \u00a0
and developed applications for customer services. \u00a0
IT development projects under construction consists of both internal IT-systems and developed applications for customer services. \u00a0
Other \u00a0
IT \u00a0
IT development \u00a0
intangible \u00a0
development \u00a0
projects under \u00a0
DKK million \u00a0
Goodwill \u00a0
assets \u00a0
projects \u00a0
construction \u00a0
2022 \u00a0
2022 \u00a0
Costs at the beginning of the year \u00a0
600 \u00a0
37 \u00a0
164 \u00a0
27 \u00a0
828 \u00a0
Additions \u00a0
78 \u00a0
-
4
19 \u00a0
101 \u00a0
Transfer \u00a0
-
-
24 \u00a0
(24) \u00a0
-
Transferred to assets classified as held for sale \u00a0
-
-
(125) \u00a0
(20) \u00a0
(145) \u00a0
Exchange rate adjustment \u00a0
18 \u00a0
-
-
-
18 \u00a0
Cost at the end of the year \u00a0
696 \u00a0
37 \u00a0
67 \u00a0
2
802 \u00a0
Amortization and impairment loss at the beginning of the year \u00a0
-
35 \u00a0
90 \u00a0
-
125 \u00a0
Amortization \u00a0
-
1
28 \u00a0
-
29 \u00a0
Transferred to assets classified as held for sale \u00a0
-
-
(59) \u00a0
-
(59) \u00a0
Exchange rate adjustment \u00a0
-
1
-
-
1
Amortization and impairment losses at the end of the year \u00a0
-
37 \u00a0
59 \u00a0
-
96 \u00a0
Carrying amount at the end of the year \u00a0
696 \u00a0
-
8
2
706 \u00a0
Amortization period \u00a0
2-5 years \u00a0
3-5 years \u00a0
IT development projects includes NNIT's ERP system which is used as the basis for the Group's day-to-day operations and internal IT-systems \u00a0
and developed applications for customer services. \u00a0
IT development projects under construction consists of both internal IT-systems and developed applications for customer services. \u00a0
",
"dimensions": {
"concept": "ifrs-full:DisclosureOfIntangibleAssetsExplanatory",
"language": "en",
"entity": "scheme:549300KM8QVF7WR40664",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"fact2001": {
"value": "Intangible assets \u00a0
Goodwill \u00a0
Goodwill arising from business combinations \u00a0
is recognized and measured as the difference \u00a0
between the total of the fair value of the considera- \u00a0
tion transferred compared to the fair value of identi- \u00a0
fiable net assets on the date of acquisition. \u00a0
Goodwill is not amortized, but the carrying amount \u00a0
is tested at relevant cash generating unit level \u00a0
(CGU-level) for impairment once a year. \u00a0
Goodwill is written down to its recoverable amount \u00a0
through the income statement if lower than the \u00a0
carrying amount. \u00a0
The recoverable amount is determined as the \u00a0
present value of the discounted future net cash \u00a0
flow from the activities goodwill relates to. In calcu- \u00a0
lating the present value, discount rates are applied \u00a0
reflecting the riskfree interest rate with the addition \u00a0
of risks relating to the individual CGU. \u00a0
3.1 Intangible
assets \u00a0
Other \u00a0
IT \u00a0
IT development \u00a0
intangible \u00a0
development \u00a0
projects under \u00a0
DKK million \u00a0
Goodwill \u00a0
assets \u00a0
projects \u00a0
construction \u00a0
2023 \u00a0
2023 \u00a0
Costs at the beginning of the year \u00a0
696 \u00a0
37 \u00a0
67 \u00a0
2
802 \u00a0
Additions \u00a0
-
-
9
15 \u00a0
24 \u00a0
Disposals1 \u00a0
-
-
(72) \u00a0
-
(72) \u00a0
Transfer \u00a0
-
-
2
(2) \u00a0
-
Exchange rate adjustment \u00a0
(10) \u00a0
-
-
-
(10) \u00a0
Cost at the end of the year \u00a0
686 \u00a0
37 \u00a0
6
15 \u00a0
744 \u00a0
Amortization and impairment loss at the beginning of the year \u00a0
-
37 \u00a0
59 \u00a0
-
96 \u00a0
Amortization \u00a0
-
-
-
-
-
Amortizations reversed on disposals2 \u00a0
-
-
(56) \u00a0
-
(56) \u00a0
Exchange rate adjustment \u00a0
-
-
-
-
-
Amortization and impairment losses at the end of the year \u00a0
-
37 \u00a0
3
-
40 \u00a0
Carrying amount at the end of the year \u00a0
686 \u00a0
-
3
15 \u00a0
704 \u00a0
Amortization period \u00a0
2-5 years \u00a0
3-5 years \u00a0
1\ua880Whereof\ua881DKK\ua88126\ua881Million\ua881relates\ua881to\ua881discontinued\ua881operations. \u00a0
2- Whereof DKK 10 Million relates to discontinued operations. \u00a0
IT development projects includes NNIT's ERP system which is used as the basis for the Group's day-to-day operations and internal IT-systems \u00a0
and developed applications for customer services. \u00a0
IT development projects under construction consists of both internal IT-systems and developed applications for customer services. \u00a0
Other \u00a0
IT \u00a0
IT development \u00a0
intangible \u00a0
development \u00a0
projects under \u00a0
DKK million \u00a0
Goodwill \u00a0
assets \u00a0
projects \u00a0
construction \u00a0
2022 \u00a0
2022 \u00a0
Costs at the beginning of the year \u00a0
600 \u00a0
37 \u00a0
164 \u00a0
27 \u00a0
828 \u00a0
Additions \u00a0
78 \u00a0
-
4
19 \u00a0
101 \u00a0
Transfer \u00a0
-
-
24 \u00a0
(24) \u00a0
-
Transferred to assets classified as held for sale \u00a0
-
-
(125) \u00a0
(20) \u00a0
(145) \u00a0
Exchange rate adjustment \u00a0
18 \u00a0
-
-
-
18 \u00a0
Cost at the end of the year \u00a0
696 \u00a0
37 \u00a0
67 \u00a0
2
802 \u00a0
Amortization and impairment loss at the beginning of the year \u00a0
-
35 \u00a0
90 \u00a0
-
125 \u00a0
Amortization \u00a0
-
1
28 \u00a0
-
29 \u00a0
Transferred to assets classified as held for sale \u00a0
-
-
(59) \u00a0
-
(59) \u00a0
Exchange rate adjustment \u00a0
-
1
-
-
1
Amortization and impairment losses at the end of the year \u00a0
-
37 \u00a0
59 \u00a0
-
96 \u00a0
Carrying amount at the end of the year \u00a0
696 \u00a0
-
8
2
706 \u00a0
Amortization period \u00a0
2-5 years \u00a0
3-5 years \u00a0
IT development projects includes NNIT's ERP system which is used as the basis for the Group's day-to-day operations and internal IT-systems \u00a0
and developed applications for customer services. \u00a0
IT development projects under construction consists of both internal IT-systems and developed applications for customer services. \u00a0
3.2 Impairment test \u00a0
Re-allocation of goodwill \u00a0
In 2023, the Group re-allocated goodwill to align with the new organisational structure announced in May 2023 \u00a0
and implemented with effect from the release of the interim report for the first six months of 2023. The re-al- \u00a0
location was carried out to reflect the new internal reporting and consequently how goodwill is monitored. No \u00a0
risk of impairment was identified prior to the re-allocation of goodwill. \u00a0
Goodwill has been re-allocated to the new group\u2019s of CGUs (smallest identifiable group of assets) based on the \u00a0
carrying amount of goodwill connected to the individual legal entities. The new CGU\u2019s is in all material aspects a \u00a0
grouping of previous CGU\u2019s, which lower the estimates and judgements applied by Management in determining \u00a0
the carrying amount of the individual CGU\u2019s as per 31 December 2023. As a result of the re-allocation, the CGU \u00a0
Region Denmark consist of Scales, the CGU Region Europe consist of SL Controls, LS EU outside DK ex. Valiance \u00a0
(HGP Group and Prime4Services) and Valiance Europe (part of previous CGU \"Valiance Partners\"). The CGU \u00a0
Region US consist of Excellis and Valiance US (part of previous CGU \"Valiance Partners\"). \u00a0
Impairment test \u00a0
The carrying amount of goodwill is impairment tested by comparison to the recoverable amount. The recover- \u00a0
able amount is determined based on value in use. Discounted cash flow models have been applied to deter- \u00a0
mine the value in use for the cash-generating units, based on the most recent financial forecasts approved \u00a0
by management. The CGU\u2019s are in all material aspects subject to the same presumptions hence below is \u00a0
applicable for all CGU\u2019s. When determining value in use the post-tax discount rate has been used. The pre-tax \u00a0
discount rate is for information purposes only. Net cash flows for the year 2024-2028 are determined based on \u00a0
key assumptions and expectations and estimates based on growth and profit margin expectations based on \u00a0
past experience and in accordance with NNIT business plans. From 2028 onwards, NNIT expects the growth \u00a0
rate to remain in line with the expected longterm average growth rate for the industry. The uncertainty associ- \u00a0
ated with these expectations is reflected in the discount rate used. \u00a0
Goodwill has been tested for impairment at December 31, 2023. The impairment test did not result in any \u00a0
impairment of the carrying amount. The key assumptions used are stated in the following (DKK million). \u00a0
The expected growth in revenue is based on historical performance, expected development in the market in \u00a0
which the entity operates and assumptions in terms of development in market share. The growth rates applied \u00a0
in the explicit forecast period converge from its current level experienced over the last few years to the long- \u00a0
term growth level in the market where the entity operates. The growth rates used to extrapolate cash flow \u00a0
projections beyond the explicit forecast period are not higher than the average expected long-term growth in \u00a0
the markets in which the entities operate. \u00a0
A sensitivity analysis has been carried out in relation to the discount rate (WACC) and terminal growth. The \u00a0
sensitivity analysis did not give rise to any risk of impairment. \u00a0
CGU1 \u00a0
Annual \u00a0
Terminal \u00a0
Carrying \u00a0
revenue \u00a0
Discount \u00a0
Discount \u00a0
period \u00a0
DKK million \u00a0
amount \u00a0
growth rate
rate pre-tax
rate post-tax \u00a0
growth rate \u00a0
2023 \u00a0
Region Denmark \u00a0
113 \u00a0
2-9% \u00a0
10.8% \u00a0
8.4% \u00a0
2% \u00a0
Region Europe \u00a0
267 \u00a0
8-14% \u00a0
10.8% \u00a0
8.4% \u00a0
2% \u00a0
Region US \u00a0
306 \u00a0
4-14% \u00a0
10.8% \u00a0
8.4% \u00a0
2% \u00a0
1\ua880\ua881The\ua881goodwill\ua881has\ua881been\ua881reallocated\ua881to\ua881the\ua881new\ua881business\ua881segments\ua881in\ua8812023.\ua881Therefore,\ua881the\ua881carrying\ua881amounts\ua881are\ua881not\ua881directly\ua881comparable\ua881 \u00a0
with 2022. The difference in the carrying amount compared to last year is due to changes in exchange rates \u00a0
Annual \u00a0
Terminal \u00a0
Carrying \u00a0
revenue \u00a0
Discount \u00a0
Discount \u00a0
period \u00a0
DKK million \u00a0
amount \u00a0
growth rate
rate pre-tax
rate post-tax \u00a0
growth rate \u00a0
2022 \u00a0
SCALES \u00a0
114 \u00a0
10% \u00a0
10.9% \u00a0
8.5% \u00a0
2% \u00a0
Valiance Partners \u00a0
139 \u00a0
10-20% \u00a0
11.4% \u00a0
8.5% \u00a0
2% \u00a0
LS EU outside DK ex. Valiance \u00a0
(Prime4Services) \u00a0
77 \u00a0
8-13% \u00a0
10.9% \u00a0
8.5% \u00a0
2% \u00a0
LS EU outside DK ex. Valiance \u00a0
(HGP Group) \u00a0
66 \u00a0
8-13% \u00a0
10.9% \u00a0
8.5% \u00a0
2% \u00a0
Excellis \u00a0
210 \u00a0
10-20% \u00a0
11.4% \u00a0
8.5% \u00a0
2% \u00a0
SL Controls \u00a0
90 \u00a0
10-20% \u00a0
10.3% \u00a0
9.0% \u00a0
2% \u00a0
",
"dimensions": {
"concept": "ifrs-full:DisclosureOfGoodwillExplanatory",
"language": "en",
"entity": "scheme:549300KM8QVF7WR40664",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"fact2002": {
"value": "Intangible assets \u00a0
Goodwill \u00a0
Goodwill arising from business combinations \u00a0
is recognized and measured as the difference \u00a0
between the total of the fair value of the considera- \u00a0
tion transferred compared to the fair value of identi- \u00a0
fiable net assets on the date of acquisition. \u00a0
Goodwill is not amortized, but the carrying amount \u00a0
is tested at relevant cash generating unit level \u00a0
(CGU-level) for impairment once a year. \u00a0
Goodwill is written down to its recoverable amount \u00a0
through the income statement if lower than the \u00a0
carrying amount. \u00a0
The recoverable amount is determined as the \u00a0
present value of the discounted future net cash \u00a0
flow from the activities goodwill relates to. In calcu- \u00a0
lating the present value, discount rates are applied \u00a0
reflecting the riskfree interest rate with the addition \u00a0
of risks relating to the individual CGU. \u00a0
",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForGoodwillExplanatory",
"language": "en",
"entity": "scheme:549300KM8QVF7WR40664",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"fact2003": {
"value": "Intangible assets \u00a0
Goodwill \u00a0
Goodwill arising from business combinations \u00a0
is recognized and measured as the difference \u00a0
between the total of the fair value of the considera- \u00a0
tion transferred compared to the fair value of identi- \u00a0
fiable net assets on the date of acquisition. \u00a0
Goodwill is not amortized, but the carrying amount \u00a0
is tested at relevant cash generating unit level \u00a0
(CGU-level) for impairment once a year. \u00a0
Goodwill is written down to its recoverable amount \u00a0
through the income statement if lower than the \u00a0
carrying amount. \u00a0
The recoverable amount is determined as the \u00a0
present value of the discounted future net cash \u00a0
flow from the activities goodwill relates to. In calcu- \u00a0
lating the present value, discount rates are applied \u00a0
reflecting the riskfree interest rate with the addition \u00a0
of risks relating to the individual CGU. \u00a0
IT development projects \u00a0
IT development projects are clearly specified and \u00a0
identifiable projects under development for internal \u00a0
and external use for which the technical feasibility \u00a0
of completing the development project has been \u00a0
demonstrated and resources are available within \u00a0
NNIT. \u00a0
Any development projects that do not meet the \u00a0
criteria for capitalization in the balance sheet are \u00a0
recognized as costs. \u00a0
Development costs meeting the criteria for capital- \u00a0
iztion are measured at cost less accumulated amor- \u00a0
tization and any impairment losses. Development \u00a0
costs include salaries, amortization and deprecia- \u00a0
tion and other costs that can be directly attributed \u00a0
to NNIT development activities. \u00a0
Development costs recognized in the balance sheet \u00a0
are amortized from completion of the development \u00a0
using the straight-line method, over the period the \u00a0
asset is expected to generate economic benefits. \u00a0
Straight-line amortization over the expected useful \u00a0
life of the asset: \u00a0
\u2022
IT projects: 5-10 years \u00a0
Intangible assets that are in use and subject to \u00a0
amortization are tested for impairment whenever \u00a0
events or changes in circumstances indicate that the \u00a0
carrying amount may not be recoverable. Factors \u00a0
that could trigger an impairment test include \u00a0
changes in the economic lifes of similar assets or \u00a0
the relationship with other intangible assets or \u00a0
tangible assets. \u00a0
Intangible assets under construction are tested for \u00a0
impairment once a year. \u00a0
If the carrying amount of intangible assets exceeds \u00a0
the recoverable amount based upon the above indi- \u00a0
cators of impairment, any impairment loss is meas- \u00a0
ured based on discounted future cash flows. \u00a0
Tangible assets \u00a0
Tangible fixed assets are measured at cost less \u00a0
accumulated depreciation and any impairment \u00a0
losses. \u00a0
Cost price includes the purchase price and costs \u00a0
relating directly to the purchase. Subsequent costs \u00a0
are either included in the carrying amount of the \u00a0
asset or recognized as a separate asset, where \u00a0
there are likely future economic benefits for the \u00a0
Group and the value of the asset can be reliably \u00a0
measured. \u00a0
The depreciable amount of the assets is depreciated \u00a0
on a straight-line basis over the following estimated \u00a0
useful life periods: \u00a0
\u2022
Other equipment: 3-10 years \u00a0
\u2022
Leasehold improvements: 5-10 years \u00a0
\u2022
Buildings: 10-50 years \u00a0
Major components of buildings which are expected \u00a0
to be replaced with regular intervals during the life \u00a0
of the building are treated as separated compo- \u00a0
nents of the building and are depreciated over the \u00a0
period until expected replacement. \u00a0
Asset residual values and useful life's are assessed \u00a0
and, where required, adjusted on each balance \u00a0
sheet date. \u00a0
Tangible assets are tested for impairment if \u00a0
there are indications of impairment. The carrying \u00a0
amount of an asset is written down to its recover- \u00a0
able amount if the carrying amount exceeds the \u00a0
estimated recoverable amount. The recoverable \u00a0
amount for the asset is determined as the higher \u00a0
of fair value less costs to sell and net present value \u00a0
of future net cash flows from continued use. If the \u00a0
recoverable amount of an individual asset cannot \u00a0
be determined, value in use is determined for the \u00a0
smallest group of assets for which it is possible to \u00a0
determine a recoverable amount. Impairment losses \u00a0
are recognized in the income statement under the \u00a0
relevant functional areas. \u00a0
Depreciation and gains or losses from disposal of \u00a0
tangible assets are recognized in the income state- \u00a0
ment under cost of goods sold, sale and marketing \u00a0
costs and administrative expenses respectively. \u00a0
",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForImpairmentOfAssetsExplanatory",
"language": "en",
"entity": "scheme:549300KM8QVF7WR40664",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"fact2005": {
"value": "Intangible assets \u00a0
Goodwill \u00a0
Goodwill arising from business combinations \u00a0
is recognized and measured as the difference \u00a0
between the total of the fair value of the considera- \u00a0
tion transferred compared to the fair value of identi- \u00a0
fiable net assets on the date of acquisition. \u00a0
Goodwill is not amortized, but the carrying amount \u00a0
is tested at relevant cash generating unit level \u00a0
(CGU-level) for impairment once a year. \u00a0
Goodwill is written down to its recoverable amount \u00a0
through the income statement if lower than the \u00a0
carrying amount. \u00a0
The recoverable amount is determined as the \u00a0
present value of the discounted future net cash \u00a0
flow from the activities goodwill relates to. In calcu- \u00a0
lating the present value, discount rates are applied \u00a0
reflecting the riskfree interest rate with the addition \u00a0
of risks relating to the individual CGU. \u00a0
Tangible assets \u00a0
Tangible fixed assets are measured at cost less \u00a0
accumulated depreciation and any impairment \u00a0
losses. \u00a0
Cost price includes the purchase price and costs \u00a0
relating directly to the purchase. Subsequent costs \u00a0
are either included in the carrying amount of the \u00a0
asset or recognized as a separate asset, where \u00a0
there are likely future economic benefits for the \u00a0
Group and the value of the asset can be reliably \u00a0
measured. \u00a0
The depreciable amount of the assets is depreciated \u00a0
on a straight-line basis over the following estimated \u00a0
useful life periods: \u00a0
\u2022
Other equipment: 3-10 years \u00a0
\u2022
Leasehold improvements: 5-10 years \u00a0
\u2022
Buildings: 10-50 years \u00a0
Major components of buildings which are expected \u00a0
to be replaced with regular intervals during the life \u00a0
of the building are treated as separated compo- \u00a0
nents of the building and are depreciated over the \u00a0
period until expected replacement. \u00a0
Asset residual values and useful life's are assessed \u00a0
and, where required, adjusted on each balance \u00a0
sheet date. \u00a0
Tangible assets are tested for impairment if \u00a0
there are indications of impairment. The carrying \u00a0
amount of an asset is written down to its recover- \u00a0
able amount if the carrying amount exceeds the \u00a0
estimated recoverable amount. The recoverable \u00a0
amount for the asset is determined as the higher \u00a0
of fair value less costs to sell and net present value \u00a0
of future net cash flows from continued use. If the \u00a0
recoverable amount of an individual asset cannot \u00a0
be determined, value in use is determined for the \u00a0
smallest group of assets for which it is possible to \u00a0
determine a recoverable amount. Impairment losses \u00a0
are recognized in the income statement under the \u00a0
relevant functional areas. \u00a0
Depreciation and gains or losses from disposal of \u00a0
tangible assets are recognized in the income state- \u00a0
ment under cost of goods sold, sale and marketing \u00a0
costs and administrative expenses respectively. \u00a0
",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForImpairmentOfNonfinancialAssetsExplanatory",
"language": "en",
"entity": "scheme:549300KM8QVF7WR40664",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"fact2020": {
"value": "IT development projects \u00a0
IT development projects are clearly specified and \u00a0
identifiable projects under development for internal \u00a0
and external use for which the technical feasibility \u00a0
of completing the development project has been \u00a0
demonstrated and resources are available within \u00a0
NNIT. \u00a0
Any development projects that do not meet the \u00a0
criteria for capitalization in the balance sheet are \u00a0
recognized as costs. \u00a0
Development costs meeting the criteria for capital- \u00a0
iztion are measured at cost less accumulated amor- \u00a0
tization and any impairment losses. Development \u00a0
costs include salaries, amortization and deprecia- \u00a0
tion and other costs that can be directly attributed \u00a0
to NNIT development activities. \u00a0
Development costs recognized in the balance sheet \u00a0
are amortized from completion of the development \u00a0
using the straight-line method, over the period the \u00a0
asset is expected to generate economic benefits. \u00a0
Straight-line amortization over the expected useful \u00a0
life of the asset: \u00a0
\u2022
IT projects: 5-10 years \u00a0
Intangible assets that are in use and subject to \u00a0
amortization are tested for impairment whenever \u00a0
events or changes in circumstances indicate that the \u00a0
carrying amount may not be recoverable. Factors \u00a0
that could trigger an impairment test include \u00a0
changes in the economic lifes of similar assets or \u00a0
the relationship with other intangible assets or \u00a0
tangible assets. \u00a0
Intangible assets under construction are tested for \u00a0
impairment once a year. \u00a0
If the carrying amount of intangible assets exceeds \u00a0
the recoverable amount based upon the above indi- \u00a0
cators of impairment, any impairment loss is meas- \u00a0
ured based on discounted future cash flows. \u00a0
",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForIntangibleAssetsOtherThanGoodwillExplanatory",
"language": "en",
"entity": "scheme:549300KM8QVF7WR40664",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"fact2022": {
"value": "IT development projects \u00a0
IT development projects are clearly specified and \u00a0
identifiable projects under development for internal \u00a0
and external use for which the technical feasibility \u00a0
of completing the development project has been \u00a0
demonstrated and resources are available within \u00a0
NNIT. \u00a0
Any development projects that do not meet the \u00a0
criteria for capitalization in the balance sheet are \u00a0
recognized as costs. \u00a0
Development costs meeting the criteria for capital- \u00a0
iztion are measured at cost less accumulated amor- \u00a0
tization and any impairment losses. Development \u00a0
costs include salaries, amortization and deprecia- \u00a0
tion and other costs that can be directly attributed \u00a0
to NNIT development activities. \u00a0
Development costs recognized in the balance sheet \u00a0
are amortized from completion of the development \u00a0
using the straight-line method, over the period the \u00a0
asset is expected to generate economic benefits. \u00a0
Straight-line amortization over the expected useful \u00a0
life of the asset: \u00a0
\u2022
IT projects: 5-10 years \u00a0
Intangible assets that are in use and subject to \u00a0
amortization are tested for impairment whenever \u00a0
events or changes in circumstances indicate that the \u00a0
carrying amount may not be recoverable. Factors \u00a0
that could trigger an impairment test include \u00a0
changes in the economic lifes of similar assets or \u00a0
the relationship with other intangible assets or \u00a0
tangible assets. \u00a0
Intangible assets under construction are tested for \u00a0
impairment once a year. \u00a0
If the carrying amount of intangible assets exceeds \u00a0
the recoverable amount based upon the above indi- \u00a0
cators of impairment, any impairment loss is meas- \u00a0
ured based on discounted future cash flows. \u00a0
Tangible assets \u00a0
Tangible fixed assets are measured at cost less \u00a0
accumulated depreciation and any impairment \u00a0
losses. \u00a0
Cost price includes the purchase price and costs \u00a0
relating directly to the purchase. Subsequent costs \u00a0
are either included in the carrying amount of the \u00a0
asset or recognized as a separate asset, where \u00a0
there are likely future economic benefits for the \u00a0
Group and the value of the asset can be reliably \u00a0
measured. \u00a0
The depreciable amount of the assets is depreciated \u00a0
on a straight-line basis over the following estimated \u00a0
useful life periods: \u00a0
\u2022
Other equipment: 3-10 years \u00a0
\u2022
Leasehold improvements: 5-10 years \u00a0
\u2022
Buildings: 10-50 years \u00a0
Major components of buildings which are expected \u00a0
to be replaced with regular intervals during the life \u00a0
of the building are treated as separated compo- \u00a0
nents of the building and are depreciated over the \u00a0
period until expected replacement. \u00a0
Asset residual values and useful life's are assessed \u00a0
and, where required, adjusted on each balance \u00a0
sheet date. \u00a0
Tangible assets are tested for impairment if \u00a0
there are indications of impairment. The carrying \u00a0
amount of an asset is written down to its recover- \u00a0
able amount if the carrying amount exceeds the \u00a0
estimated recoverable amount. The recoverable \u00a0
amount for the asset is determined as the higher \u00a0
of fair value less costs to sell and net present value \u00a0
of future net cash flows from continued use. If the \u00a0
recoverable amount of an individual asset cannot \u00a0
be determined, value in use is determined for the \u00a0
smallest group of assets for which it is possible to \u00a0
determine a recoverable amount. Impairment losses \u00a0
are recognized in the income statement under the \u00a0
relevant functional areas. \u00a0
Depreciation and gains or losses from disposal of \u00a0
tangible assets are recognized in the income state- \u00a0
ment under cost of goods sold, sale and marketing \u00a0
costs and administrative expenses respectively. \u00a0
",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForDepreciationExpenseExplanatory",
"language": "en",
"entity": "scheme:549300KM8QVF7WR40664",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"fact2032": {
"value": "Tangible assets \u00a0
Tangible fixed assets are measured at cost less \u00a0
accumulated depreciation and any impairment \u00a0
losses. \u00a0
Cost price includes the purchase price and costs \u00a0
relating directly to the purchase. Subsequent costs \u00a0
are either included in the carrying amount of the \u00a0
asset or recognized as a separate asset, where \u00a0
there are likely future economic benefits for the \u00a0
Group and the value of the asset can be reliably \u00a0
measured. \u00a0
The depreciable amount of the assets is depreciated \u00a0
on a straight-line basis over the following estimated \u00a0
useful life periods: \u00a0
\u2022
Other equipment: 3-10 years \u00a0
\u2022
Leasehold improvements: 5-10 years \u00a0
\u2022
Buildings: 10-50 years \u00a0
Major components of buildings which are expected \u00a0
to be replaced with regular intervals during the life \u00a0
of the building are treated as separated compo- \u00a0
nents of the building and are depreciated over the \u00a0
period until expected replacement. \u00a0
Asset residual values and useful life's are assessed \u00a0
and, where required, adjusted on each balance \u00a0
sheet date. \u00a0
Tangible assets are tested for impairment if \u00a0
there are indications of impairment. The carrying \u00a0
amount of an asset is written down to its recover- \u00a0
able amount if the carrying amount exceeds the \u00a0
estimated recoverable amount. The recoverable \u00a0
amount for the asset is determined as the higher \u00a0
of fair value less costs to sell and net present value \u00a0
of future net cash flows from continued use. If the \u00a0
recoverable amount of an individual asset cannot \u00a0
be determined, value in use is determined for the \u00a0
smallest group of assets for which it is possible to \u00a0
determine a recoverable amount. Impairment losses \u00a0
are recognized in the income statement under the \u00a0
relevant functional areas. \u00a0
Depreciation and gains or losses from disposal of \u00a0
tangible assets are recognized in the income state- \u00a0
ment under cost of goods sold, sale and marketing \u00a0
costs and administrative expenses respectively. \u00a0
",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForPropertyPlantAndEquipmentExplanatory",
"language": "en",
"entity": "scheme:549300KM8QVF7WR40664",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"fact2034": {
"value": "Tangible assets \u00a0
Tangible fixed assets are measured at cost less \u00a0
accumulated depreciation and any impairment \u00a0
losses. \u00a0
Cost price includes the purchase price and costs \u00a0
relating directly to the purchase. Subsequent costs \u00a0
are either included in the carrying amount of the \u00a0
asset or recognized as a separate asset, where \u00a0
there are likely future economic benefits for the \u00a0
Group and the value of the asset can be reliably \u00a0
measured. \u00a0
The depreciable amount of the assets is depreciated \u00a0
on a straight-line basis over the following estimated \u00a0
useful life periods: \u00a0
\u2022
Other equipment: 3-10 years \u00a0
\u2022
Leasehold improvements: 5-10 years \u00a0
\u2022
Buildings: 10-50 years \u00a0
Major components of buildings which are expected \u00a0
to be replaced with regular intervals during the life \u00a0
of the building are treated as separated compo- \u00a0
nents of the building and are depreciated over the \u00a0
period until expected replacement. \u00a0
Asset residual values and useful life's are assessed \u00a0
and, where required, adjusted on each balance \u00a0
sheet date. \u00a0
Tangible assets are tested for impairment if \u00a0
there are indications of impairment. The carrying \u00a0
amount of an asset is written down to its recover- \u00a0
able amount if the carrying amount exceeds the \u00a0
estimated recoverable amount. The recoverable \u00a0
amount for the asset is determined as the higher \u00a0
of fair value less costs to sell and net present value \u00a0
of future net cash flows from continued use. If the \u00a0
recoverable amount of an individual asset cannot \u00a0
be determined, value in use is determined for the \u00a0
smallest group of assets for which it is possible to \u00a0
determine a recoverable amount. Impairment losses \u00a0
are recognized in the income statement under the \u00a0
relevant functional areas. \u00a0
Depreciation and gains or losses from disposal of \u00a0
tangible assets are recognized in the income state- \u00a0
ment under cost of goods sold, sale and marketing \u00a0
costs and administrative expenses respectively. \u00a0
3.3 Tangible assets \u00a0
Payments on \u00a0
account and \u00a0
Land and \u00a0
Other \u00a0
Leasehold \u00a0
assets under \u00a0
DKK million \u00a0
buildings \u00a0
equipment \u00a0
improvements \u00a0
construction \u00a0
2023 \u00a0
2023 \u00a0
Cost at the beginning of the year \u00a0
5
6
55 \u00a0
-
66 \u00a0
Additions \u00a0
-
10 \u00a0
-
12 \u00a0
22 \u00a0
Disposals1 \u00a0
(2) \u00a0
(13) \u00a0
-
(12) \u00a0
(27) \u00a0
Transfer \u00a0
(3) \u00a0
2
1
-
-
Cost at the end of the year \u00a0
-
5
56 \u00a0
-
61 \u00a0
Depreciation and impairment loss at the beginning of the year \u00a0
-
3
46 \u00a0
-
49 \u00a0
Depreciation \u00a0
-
1
4
-
5
Depreciation reversed on disposals \u00a0
-
(1) \u00a0
-
-
(1) \u00a0
Depreciation and impairment loss at the end of the year \u00a0
-
3
50 \u00a0
-
53 \u00a0
Carrying amount at the end of the year \u00a0
-
2
6
-
8
Depreciation period \u00a0
10-50 years \u00a0
3-10 years \u00a0
5-10 years \u00a0
1
Whereof DKK 26 million relates to discontinued operations. \u00a0
Payments on \u00a0
account and \u00a0
Land and \u00a0
Other \u00a0
Leasehold \u00a0
assets under \u00a0
DKK million \u00a0
buildings \u00a0
equipment \u00a0
improvements \u00a0
construction \u00a0
2022 \u00a0
2022 \u00a0
Cost at the beginning of the year \u00a0
390 \u00a0
695 \u00a0
60 \u00a0
6
1,151 \u00a0
Additions \u00a0
2
91 \u00a0
7
19 \u00a0
119 \u00a0
Disposals \u00a0
-
(85) \u00a0
(3) \u00a0
-
(88) \u00a0
Transfer \u00a0
6
-
-
(6) \u00a0
-
Transferred to assets classified as held for sale \u00a0
(393) \u00a0
(695) \u00a0
(9) \u00a0
(19) \u00a0
(1,116) \u00a0
Cost at the end of the year \u00a0
5
6
55 \u00a0
-
66 \u00a0
Depreciation and impairment loss at the beginning of the year \u00a0
125 \u00a0
490 \u00a0
53 \u00a0
-
668 \u00a0
Depreciation \u00a0
17 \u00a0
91 \u00a0
3
-
111 \u00a0
Depreciation reversed on disposals \u00a0
-
(85) \u00a0
(3) \u00a0
-
(88) \u00a0
Transferred to assets classified as held for sale \u00a0
(142) \u00a0
(492) \u00a0
(7) \u00a0
-
(641) \u00a0
Exchange rate adjustment \u00a0
-
(1) \u00a0
-
-
(1) \u00a0
Depreciation and impairment loss at the end of the year \u00a0
-
3
46 \u00a0
-
49 \u00a0
Carrying amount at the end of the year \u00a0
5
3
9
-
17 \u00a0
Depreciation period \u00a0
10-50 years \u00a0
3-10 years \u00a0
5-10 years \u00a0
NNIT's fixed assets register is inspected on a regular basis to identify assets, which are no longer in use. Such assets are scrapped. \u00a0
",
"dimensions": {
"concept": "ifrs-full:DisclosureOfPropertyPlantAndEquipmentExplanatory",
"language": "en",
"entity": "scheme:549300KM8QVF7WR40664",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"fact2035": {
"value": "Tangible assets \u00a0
Tangible fixed assets are measured at cost less \u00a0
accumulated depreciation and any impairment \u00a0
losses. \u00a0
Cost price includes the purchase price and costs \u00a0
relating directly to the purchase. Subsequent costs \u00a0
are either included in the carrying amount of the \u00a0
asset or recognized as a separate asset, where \u00a0
there are likely future economic benefits for the \u00a0
Group and the value of the asset can be reliably \u00a0
measured. \u00a0
The depreciable amount of the assets is depreciated \u00a0
on a straight-line basis over the following estimated \u00a0
useful life periods: \u00a0
\u2022
Other equipment: 3-10 years \u00a0
\u2022
Leasehold improvements: 5-10 years \u00a0
\u2022
Buildings: 10-50 years \u00a0
Major components of buildings which are expected \u00a0
to be replaced with regular intervals during the life \u00a0
of the building are treated as separated compo- \u00a0
nents of the building and are depreciated over the \u00a0
period until expected replacement. \u00a0
Asset residual values and useful life's are assessed \u00a0
and, where required, adjusted on each balance \u00a0
sheet date. \u00a0
Tangible assets are tested for impairment if \u00a0
there are indications of impairment. The carrying \u00a0
amount of an asset is written down to its recover- \u00a0
able amount if the carrying amount exceeds the \u00a0
estimated recoverable amount. The recoverable \u00a0
amount for the asset is determined as the higher \u00a0
of fair value less costs to sell and net present value \u00a0
of future net cash flows from continued use. If the \u00a0
recoverable amount of an individual asset cannot \u00a0
be determined, value in use is determined for the \u00a0
smallest group of assets for which it is possible to \u00a0
determine a recoverable amount. Impairment losses \u00a0
are recognized in the income statement under the \u00a0
relevant functional areas. \u00a0
Depreciation and gains or losses from disposal of \u00a0
tangible assets are recognized in the income state- \u00a0
ment under cost of goods sold, sale and marketing \u00a0
costs and administrative expenses respectively. \u00a0
2.4 Amortization, depreciation and impairment losses \u00a0
DKK million \u00a0
2023 \u00a0
2022 \u00a0
Amortization \u00a0
-
29 \u00a0
Depreciation \u00a0
33 \u00a0
180 \u00a0
Impairment losses \u00a0
-
13 \u00a0
Total amortization, depreciation, and impairment losses \u00a0
33 \u00a0
222 \u00a0
Total amortization, depreciation, and impairment losses, \u00a0
discontinued operations \u00a0
5
154 \u00a0
Total amortization, depreciation, and impairment losses, \u00a0
continuing operations \u00a0
28 \u00a0
68 \u00a0
Amortization, depreciation and impairment losses are \u00a0
recognized in the income statement: \u00a0
Cost of goods sold \u00a0
7
14 \u00a0
Sales and marketing costs \u00a0
1
1
Administrative expenses \u00a0
20 \u00a0
39 \u00a0
Special items \u00a0
-
14 \u00a0
Total amortization, depreciation, and impairment losses \u00a0
28 \u00a0
68 \u00a0
3.1 Intangible
assets \u00a0
Other \u00a0
IT \u00a0
IT development \u00a0
intangible \u00a0
development \u00a0
projects under \u00a0
DKK million \u00a0
Goodwill \u00a0
assets \u00a0
projects \u00a0
construction \u00a0
2023 \u00a0
2023 \u00a0
Costs at the beginning of the year \u00a0
696 \u00a0
37 \u00a0
67 \u00a0
2
802 \u00a0
Additions \u00a0
-
-
9
15 \u00a0
24 \u00a0
Disposals1 \u00a0
-
-
(72) \u00a0
-
(72) \u00a0
Transfer \u00a0
-
-
2
(2) \u00a0
-
Exchange rate adjustment \u00a0
(10) \u00a0
-
-
-
(10) \u00a0
Cost at the end of the year \u00a0
686 \u00a0
37 \u00a0
6
15 \u00a0
744 \u00a0
Amortization and impairment loss at the beginning of the year \u00a0
-
37 \u00a0
59 \u00a0
-
96 \u00a0
Amortization \u00a0
-
-
-
-
-
Amortizations reversed on disposals2 \u00a0
-
-
(56) \u00a0
-
(56) \u00a0
Exchange rate adjustment \u00a0
-
-
-
-
-
Amortization and impairment losses at the end of the year \u00a0
-
37 \u00a0
3
-
40 \u00a0
Carrying amount at the end of the year \u00a0
686 \u00a0
-
3
15 \u00a0
704 \u00a0
Amortization period \u00a0
2-5 years \u00a0
3-5 years \u00a0
1\ua880Whereof\ua881DKK\ua88126\ua881Million\ua881relates\ua881to\ua881discontinued\ua881operations. \u00a0
2- Whereof DKK 10 Million relates to discontinued operations. \u00a0
IT development projects includes NNIT's ERP system which is used as the basis for the Group's day-to-day operations and internal IT-systems \u00a0
and developed applications for customer services. \u00a0
IT development projects under construction consists of both internal IT-systems and developed applications for customer services. \u00a0
Other \u00a0
IT \u00a0
IT development \u00a0
intangible \u00a0
development \u00a0
projects under \u00a0
DKK million \u00a0
Goodwill \u00a0
assets \u00a0
projects \u00a0
construction \u00a0
2022 \u00a0
2022 \u00a0
Costs at the beginning of the year \u00a0
600 \u00a0
37 \u00a0
164 \u00a0
27 \u00a0
828 \u00a0
Additions \u00a0
78 \u00a0
-
4
19 \u00a0
101 \u00a0
Transfer \u00a0
-
-
24 \u00a0
(24) \u00a0
-
Transferred to assets classified as held for sale \u00a0
-
-
(125) \u00a0
(20) \u00a0
(145) \u00a0
Exchange rate adjustment \u00a0
18 \u00a0
-
-
-
18 \u00a0
Cost at the end of the year \u00a0
696 \u00a0
37 \u00a0
67 \u00a0
2
802 \u00a0
Amortization and impairment loss at the beginning of the year \u00a0
-
35 \u00a0
90 \u00a0
-
125 \u00a0
Amortization \u00a0
-
1
28 \u00a0
-
29 \u00a0
Transferred to assets classified as held for sale \u00a0
-
-
(59) \u00a0
-
(59) \u00a0
Exchange rate adjustment \u00a0
-
1
-
-
1
Amortization and impairment losses at the end of the year \u00a0
-
37 \u00a0
59 \u00a0
-
96 \u00a0
Carrying amount at the end of the year \u00a0
696 \u00a0
-
8
2
706 \u00a0
Amortization period \u00a0
2-5 years \u00a0
3-5 years \u00a0
IT development projects includes NNIT's ERP system which is used as the basis for the Group's day-to-day operations and internal IT-systems \u00a0
and developed applications for customer services. \u00a0
IT development projects under construction consists of both internal IT-systems and developed applications for customer services. \u00a0
3.3 Tangible assets \u00a0
Payments on \u00a0
account and \u00a0
Land and \u00a0
Other \u00a0
Leasehold \u00a0
assets under \u00a0
DKK million \u00a0
buildings \u00a0
equipment \u00a0
improvements \u00a0
construction \u00a0
2023 \u00a0
2023 \u00a0
Cost at the beginning of the year \u00a0
5
6
55 \u00a0
-
66 \u00a0
Additions \u00a0
-
10 \u00a0
-
12 \u00a0
22 \u00a0
Disposals1 \u00a0
(2) \u00a0
(13) \u00a0
-
(12) \u00a0
(27) \u00a0
Transfer \u00a0
(3) \u00a0
2
1
-
-
Cost at the end of the year \u00a0
-
5
56 \u00a0
-
61 \u00a0
Depreciation and impairment loss at the beginning of the year \u00a0
-
3
46 \u00a0
-
49 \u00a0
Depreciation \u00a0
-
1
4
-
5
Depreciation reversed on disposals \u00a0
-
(1) \u00a0
-
-
(1) \u00a0
Depreciation and impairment loss at the end of the year \u00a0
-
3
50 \u00a0
-
53 \u00a0
Carrying amount at the end of the year \u00a0
-
2
6
-
8
Depreciation period \u00a0
10-50 years \u00a0
3-10 years \u00a0
5-10 years \u00a0
1
Whereof DKK 26 million relates to discontinued operations. \u00a0
Payments on \u00a0
account and \u00a0
Land and \u00a0
Other \u00a0
Leasehold \u00a0
assets under \u00a0
DKK million \u00a0
buildings \u00a0
equipment \u00a0
improvements \u00a0
construction \u00a0
2022 \u00a0
2022 \u00a0
Cost at the beginning of the year \u00a0
390 \u00a0
695 \u00a0
60 \u00a0
6
1,151 \u00a0
Additions \u00a0
2
91 \u00a0
7
19 \u00a0
119 \u00a0
Disposals \u00a0
-
(85) \u00a0
(3) \u00a0
-
(88) \u00a0
Transfer \u00a0
6
-
-
(6) \u00a0
-
Transferred to assets classified as held for sale \u00a0
(393) \u00a0
(695) \u00a0
(9) \u00a0
(19) \u00a0
(1,116) \u00a0
Cost at the end of the year \u00a0
5
6
55 \u00a0
-
66 \u00a0
Depreciation and impairment loss at the beginning of the year \u00a0
125 \u00a0
490 \u00a0
53 \u00a0
-
668 \u00a0
Depreciation \u00a0
17 \u00a0
91 \u00a0
3
-
111 \u00a0
Depreciation reversed on disposals \u00a0
-
(85) \u00a0
(3) \u00a0
-
(88) \u00a0
Transferred to assets classified as held for sale \u00a0
(142) \u00a0
(492) \u00a0
(7) \u00a0
-
(641) \u00a0
Exchange rate adjustment \u00a0
-
(1) \u00a0
-
-
(1) \u00a0
Depreciation and impairment loss at the end of the year \u00a0
-
3
46 \u00a0
-
49 \u00a0
Carrying amount at the end of the year \u00a0
5
3
9
-
17 \u00a0
Depreciation period \u00a0
10-50 years \u00a0
3-10 years \u00a0
5-10 years \u00a0
NNIT's fixed assets register is inspected on a regular basis to identify assets, which are no longer in use. Such assets are scrapped. \u00a0
4.3 Leases \u00a0
Lease assets \u00a0
Rental of \u00a0
IT- \u00a0
Company \u00a0
DKK million \u00a0
premises \u00a0
equipment \u00a0
cars \u00a0
2023 \u00a0
2023 \u00a0
Costs at the beginning of the year \u00a0
617 \u00a0
17 \u00a0
19 \u00a0
653 \u00a0
Additions1 \u00a0
29 \u00a0
-
5
34 \u00a0
Disposals \u00a0
(395) \u00a0
(17) \u00a0
(2) \u00a0
(414) \u00a0
Exchange rate adjustment \u00a0
(5) \u00a0
(5) \u00a0
Costs at the end of the year \u00a0
246 \u00a0
-
22 \u00a0
268 \u00a0
Depreciation and impairment loss at \u00a0
the beginning of the year \u00a0
520 \u00a0
17 \u00a0
8
545 \u00a0
Depreciation \u00a0
22 \u00a0
-
6
28 \u00a0
Impairment loss \u00a0
-
-
-
-
Depreciation reversed on disposals \u00a0
(329) \u00a0
(17) \u00a0
(2) \u00a0
(348) \u00a0
Exchange rate adjustments \u00a0
(2) \u00a0
-
-
(2) \u00a0
Depreciation and impairment loss \u00a0
at the end of the year \u00a0
211 \u00a0
-
12 \u00a0
223 \u00a0
Carrying amount at the end of the year \u00a0
35 \u00a0
-
10 \u00a0
45 \u00a0
1\ua880Whereof\ua881DKK\ua88115\ua881million\ua881relates\ua881to\ua881gain\ua881on\ua881subleases. \u00a0
Lease assets \u00a0
Rental of \u00a0
IT- \u00a0
Company \u00a0
DKK million \u00a0
premises \u00a0
equipment \u00a0
cars \u00a0
2022 \u00a0
2022 \u00a0
Costs at the beginning of the year \u00a0
673 \u00a0
17 \u00a0
19 \u00a0
709 \u00a0
Additions \u00a0
33 \u00a0
-
6
39 \u00a0
Disposals \u00a0
(89) \u00a0
-
(6) \u00a0
(95) \u00a0
Transferred to assets held for sale \u00a0
-
-
-
-
Costs at the end of the year \u00a0
617 \u00a0
17 \u00a0
19 \u00a0
653 \u00a0
Depreciation and impairment loss at \u00a0
the beginning of the year \u00a0
522 \u00a0
17 \u00a0
8
547 \u00a0
Depreciation \u00a0
63 \u00a0
-
6
69 \u00a0
Impairment loss \u00a0
13 \u00a0
-
-
13 \u00a0
Depreciation reversed on disposals \u00a0
(74) \u00a0
-
(6) \u00a0
(80) \u00a0
Exchange rate adjustments \u00a0
(4) \u00a0
-
-
(4) \u00a0
Transferred to assets held for sale \u00a0
-
-
-
-
Depreciation and impairment loss \u00a0
at the end of the year \u00a0
520 \u00a0
17 \u00a0
8
545 \u00a0
Carrying amount at the end of the year \u00a0
97 \u00a0
-
11 \u00a0
108 \u00a0
",
"dimensions": {
"concept": "ifrs-full:DisclosureOfDepreciationAndAmortisationExpenseExplanatory",
"language": "en",
"entity": "scheme:549300KM8QVF7WR40664",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"fact2048": {
"value": "Lease assets \u00a0
Lease assets are 'right-of-use assets' arising \u00a0
from a lease agreement. Lease assets are initially \u00a0
measured at cost consisting of the amount of the \u00a0
initial measurement of the lease liability, plus any \u00a0
lease payments made to the lessor at or before \u00a0
the commencement date less any lease incentives \u00a0
received and the initial estimate of refurbishment \u00a0
costs and any initial directs costs incurred by NNIT \u00a0
as the lessee. \u00a0
NNIT has three different types of leases: \u00a0
\u2022
Rental of premises \u00a0
\u2022
IT equipment \u00a0
\u2022
Company cars \u00a0
The lease assets are depreciated on a straight-line \u00a0
basis over the lease term. The lease asset can be \u00a0
adjusted due to modifications to the lease agree- \u00a0
ment or reassessment of lease term. \u00a0
Payments associated with short-term leases and \u00a0
leases of low-value assets are recognized on a \u00a0
straight-line basis as an expense in profit or loss. \u00a0
Short-term leases are leases with a term of 12 \u00a0
months or less. Low-value assets comprise IT-equip- \u00a0
ment and small items of office furniture with a value \u00a0
below DKK 100 thousand. \u00a0
Subleases \u00a0
NNIT has entered into arrangements to sublease \u00a0
part of the Group's property lease agreement, while \u00a0
NNIT retains the primary obligation under the orig- \u00a0
inal lease. NNIT acts as such both the lessee and \u00a0
lessor of the same underlying asset. \u00a0
If a part of the Group's property is subleased under \u00a0
terms transferring substantially all remaining risks \u00a0
and rewards under the head lease to the lessee in \u00a0
the sublease, the right-of-use asset is derecognised, \u00a0
and a lease receivable is recognised at an amount \u00a0
equal to the net investment in the lease. Gain/loss \u00a0
on the derecognised right-of-use asset is recognised \u00a0
in the income statement as special items. \u00a0
During the term of the sublease, the receivable is \u00a0
adjusted based on a pattern reflecting a constant \u00a0
periodic rate of return on the net investment in the \u00a0
lease. \u00a0
Lease liabilities \u00a0
Lease liabilities arise from a lease agreement. Lease \u00a0
liabilities are initially equal to the present value of \u00a0
the lease payments during the lease term that are \u00a0
not yet paid. \u00a0
At initial recognition NNIT assess each contract \u00a0
individually to assess the likelihood of exercising \u00a0
a potential extension option in the contract. \u00a0
The option to extend the contract period will be \u00a0
included in the calculation of the lease liability if \u00a0
it is reasonably certain that NNIT will exercise the \u00a0
option. \u00a0
When calculating the net present value NNIT has \u00a0
used a discount rate corresponding to the incre- \u00a0
mental borrowing rate. \u00a0
The lease liability is remeasured when changes \u00a0
occur due to modifications to the contract (exten- \u00a0
sion, termination etc.) or indexation. \u00a0
",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForLeasesExplanatory",
"language": "en",
"entity": "scheme:549300KM8QVF7WR40664",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"fact2049": {
"value": "Lease assets \u00a0
Lease assets are 'right-of-use assets' arising \u00a0
from a lease agreement. Lease assets are initially \u00a0
measured at cost consisting of the amount of the \u00a0
initial measurement of the lease liability, plus any \u00a0
lease payments made to the lessor at or before \u00a0
the commencement date less any lease incentives \u00a0
received and the initial estimate of refurbishment \u00a0
costs and any initial directs costs incurred by NNIT \u00a0
as the lessee. \u00a0
NNIT has three different types of leases: \u00a0
\u2022
Rental of premises \u00a0
\u2022
IT equipment \u00a0
\u2022
Company cars \u00a0
The lease assets are depreciated on a straight-line \u00a0
basis over the lease term. The lease asset can be \u00a0
adjusted due to modifications to the lease agree- \u00a0
ment or reassessment of lease term. \u00a0
Payments associated with short-term leases and \u00a0
leases of low-value assets are recognized on a \u00a0
straight-line basis as an expense in profit or loss. \u00a0
Short-term leases are leases with a term of 12 \u00a0
months or less. Low-value assets comprise IT-equip- \u00a0
ment and small items of office furniture with a value \u00a0
below DKK 100 thousand. \u00a0
Subleases \u00a0
NNIT has entered into arrangements to sublease \u00a0
part of the Group's property lease agreement, while \u00a0
NNIT retains the primary obligation under the orig- \u00a0
inal lease. NNIT acts as such both the lessee and \u00a0
lessor of the same underlying asset. \u00a0
If a part of the Group's property is subleased under \u00a0
terms transferring substantially all remaining risks \u00a0
and rewards under the head lease to the lessee in \u00a0
the sublease, the right-of-use asset is derecognised, \u00a0
and a lease receivable is recognised at an amount \u00a0
equal to the net investment in the lease. Gain/loss \u00a0
on the derecognised right-of-use asset is recognised \u00a0
in the income statement as special items. \u00a0
During the term of the sublease, the receivable is \u00a0
adjusted based on a pattern reflecting a constant \u00a0
periodic rate of return on the net investment in the \u00a0
lease. \u00a0
Lease liabilities \u00a0
Lease liabilities arise from a lease agreement. Lease \u00a0
liabilities are initially equal to the present value of \u00a0
the lease payments during the lease term that are \u00a0
not yet paid. \u00a0
At initial recognition NNIT assess each contract \u00a0
individually to assess the likelihood of exercising \u00a0
a potential extension option in the contract. \u00a0
The option to extend the contract period will be \u00a0
included in the calculation of the lease liability if \u00a0
it is reasonably certain that NNIT will exercise the \u00a0
option. \u00a0
When calculating the net present value NNIT has \u00a0
used a discount rate corresponding to the incre- \u00a0
mental borrowing rate. \u00a0
The lease liability is remeasured when changes \u00a0
occur due to modifications to the contract (exten- \u00a0
sion, termination etc.) or indexation. \u00a0
4.3 Leases \u00a0
Lease assets \u00a0
Rental of \u00a0
IT- \u00a0
Company \u00a0
DKK million \u00a0
premises \u00a0
equipment \u00a0
cars \u00a0
2023 \u00a0
2023 \u00a0
Costs at the beginning of the year \u00a0
617 \u00a0
17 \u00a0
19 \u00a0
653 \u00a0
Additions1 \u00a0
29 \u00a0
-
5
34 \u00a0
Disposals \u00a0
(395) \u00a0
(17) \u00a0
(2) \u00a0
(414) \u00a0
Exchange rate adjustment \u00a0
(5) \u00a0
(5) \u00a0
Costs at the end of the year \u00a0
246 \u00a0
-
22 \u00a0
268 \u00a0
Depreciation and impairment loss at \u00a0
the beginning of the year \u00a0
520 \u00a0
17 \u00a0
8
545 \u00a0
Depreciation \u00a0
22 \u00a0
-
6
28 \u00a0
Impairment loss \u00a0
-
-
-
-
Depreciation reversed on disposals \u00a0
(329) \u00a0
(17) \u00a0
(2) \u00a0
(348) \u00a0
Exchange rate adjustments \u00a0
(2) \u00a0
-
-
(2) \u00a0
Depreciation and impairment loss \u00a0
at the end of the year \u00a0
211 \u00a0
-
12 \u00a0
223 \u00a0
Carrying amount at the end of the year \u00a0
35 \u00a0
-
10 \u00a0
45 \u00a0
1\ua880Whereof\ua881DKK\ua88115\ua881million\ua881relates\ua881to\ua881gain\ua881on\ua881subleases. \u00a0
Lease assets \u00a0
Rental of \u00a0
IT- \u00a0
Company \u00a0
DKK million \u00a0
premises \u00a0
equipment \u00a0
cars \u00a0
2022 \u00a0
2022 \u00a0
Costs at the beginning of the year \u00a0
673 \u00a0
17 \u00a0
19 \u00a0
709 \u00a0
Additions \u00a0
33 \u00a0
-
6
39 \u00a0
Disposals \u00a0
(89) \u00a0
-
(6) \u00a0
(95) \u00a0
Transferred to assets held for sale \u00a0
-
-
-
-
Costs at the end of the year \u00a0
617 \u00a0
17 \u00a0
19 \u00a0
653 \u00a0
Depreciation and impairment loss at \u00a0
the beginning of the year \u00a0
522 \u00a0
17 \u00a0
8
547 \u00a0
Depreciation \u00a0
63 \u00a0
-
6
69 \u00a0
Impairment loss \u00a0
13 \u00a0
-
-
13 \u00a0
Depreciation reversed on disposals \u00a0
(74) \u00a0
-
(6) \u00a0
(80) \u00a0
Exchange rate adjustments \u00a0
(4) \u00a0
-
-
(4) \u00a0
Transferred to assets held for sale \u00a0
-
-
-
-
Depreciation and impairment loss \u00a0
at the end of the year \u00a0
520 \u00a0
17 \u00a0
8
545 \u00a0
Carrying amount at the end of the year \u00a0
97 \u00a0
-
11 \u00a0
108 \u00a0
Lease liabilities \u00a0
Lease liabilities expiring within the following periods from the balance sheet date: \u00a0
DKK million \u00a0
2023 \u00a0
2022 \u00a0
Within 1 year \u00a0
53 \u00a0
83 \u00a0
Between 1 and 5 years \u00a0
15 \u00a0
80 \u00a0
After 5 years \u00a0
-
-
Total lease liability, non-discounted \u00a0
68 \u00a0
163 \u00a0
Lease liabilities are recognized in the balance sheet as follows: \u00a0
Non-current liabilities \u00a0
13 \u00a0
83 \u00a0
Current liabilities \u00a0
51 \u00a0
73 \u00a0
Total lease liabilities \u00a0
64 \u00a0
156 \u00a0
Recognized in the profit and loss statement \u00a0
Interest expenses related to lease liabilities \u00a0
3
4
Expense relating to short term leases, not capitalized \u00a0
-
-
Expense relating to leases of low-value assets, not capitalized \u00a0
-
-
3
4
In 2023 the Group has paid 66 million (2022: 87 million) regarding lease agreements where of interest expenses \u00a0
related to lease liabilities amount to DKK 3 million (2022: 4 million) and repayment of lease liability amount to \u00a0
DKK 61 million (2022: 83 million) \u00a0
As of 31 December 2023, the lease liability excludes DKK 193 million (undiscounted) of potential lease payments \u00a0
related to lease term extension rights on properties, which were not considered reasonably certain to be exer- \u00a0
cised. \u00a0
Subleases \u00a0
NNIT has entered into arrangements to sublease part of the Group's property lease agreement. In accordance \u00a0
with IFRS 16, the right-of-use asset covering the subleases is derecognised, and a lease receivable is recog- \u00a0
nised. \u00a0
DKK million \u00a0
2023 \u00a0
2022 \u00a0
Amounts recognised in the income statement \u00a0
Rent from subleases \u00a0
18 \u00a0
4
Amounts recognised in the statement of cash flows \u00a0
Installment on sublease receivables \u00a0
18 \u00a0
5
Receivables from subleasing \u00a0
Receivables from subleases at 1 January \u00a0
18 \u00a0
11 \u00a0
Additions \u00a0
26 \u00a0
12 \u00a0
Disposals \u00a0
-
-
Payments received \u00a0
(18) \u00a0
(5) \u00a0
Receivables from subleases \u00a0
26 \u00a0
18 \u00a0
",
"dimensions": {
"concept": "ifrs-full:DisclosureOfLeasesExplanatory",
"language": "en",
"entity": "scheme:549300KM8QVF7WR40664",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"fact2057": {
"value": "Transition cost \u00a0
Transition cost consists of cost regarding transition \u00a0
projects, which has been capitalized until operation \u00a0
begins. The cost mainly relates to employee cost \u00a0
and will be amortized over the operation period. \u00a0
",
"dimensions": {
"concept": "nnit:DescriptionOfAccoutingPolityForTransitionCost",
"language": "en",
"entity": "scheme:549300KM8QVF7WR40664",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"fact2097": {
"value": "Employee benefits \u00a0
Wages, salaries, social security contributions, paid \u00a0
annual leave and sick leave, bonuses and non-mon- \u00a0
etary benefits are recognized in the financial year in \u00a0
which the NNIT employee provided the related work \u00a0
service. \u00a0
Contingent Consideration Agreement \u00a0
The contingent consideration for Excellis Health \u00a0
Solutions, SL Controls and Prime4Services is \u00a0
accrued over the period from the acquisition \u00a0
date until the payment is based on expected \u00a0
achieved performance conditioned on employment \u00a0
(projected unit credit method). The cost is recog- \u00a0
nized as wages and salaries under special items in \u00a0
the income statement. \u00a0
Pensions \u00a0
NNIT operates a number of defined-contribution \u00a0
pension plans. The costs of these pension plans are \u00a0
recognized in the financial year in which the relevant \u00a0
NNIT employees provided the related service. \u00a0
In some countries NNIT operates defined-benefit \u00a0
plans. Such liabilities are measured at the present \u00a0
value of the expected payments related to benefits \u00a0
accrued at the balance sheet date less the fair value \u00a0
of plan assets by applying the projected unit credit \u00a0
method. Plan assets, if any, are measured at fair \u00a0
value and offset against the defined benefit obli- \u00a0
gation in the balance sheet. Service costs and the \u00a0
interest component are recognized in the income \u00a0
statement. Actuarial gains and losses are recog- \u00a0
nized in other comprehensive income in the period \u00a0
in which they occur. Settlements are immediately \u00a0
recognized in the income statement. \u00a0
Long-term incentive and retention programs \u00a0
NNIT has two different share-based incentive \u00a0
programs; long-term incentive program (LTIP) and \u00a0
retention program (RP). \u00a0
Long-term incentive program (LTIP) \u00a0
Group Management and the Vice President Group \u00a0
are part of a long-term share-based incentive \u00a0
program (LTIP). \u00a0
Under the program, NNIT allocates shares based on \u00a0
operating profit and free cash flow. \u00a0
LTIP \u00a0
The participants receive NNIT shares. The shares \u00a0
are subject to a lock-up period of four years. \u00a0
NNIT has the obligation to deliver treasury shares, \u00a0
and accordingly, the arrangement is classified as \u00a0
an equitysettled arrangement and will be charged \u00a0
to the income statement over the four-year vesting \u00a0
period based on the market price at the grant date. \u00a0
2.2 Employee costs \u00a0
DKK million \u00a0
2023 \u00a0
2022 \u00a0
Employee costs comprise: \u00a0
Wages and salaries \u00a0
1,383 \u00a0
1,882 \u00a0
Share-based payments \u00a0
1
2
Pensions \u2013 defined contribution plans \u00a0
91 \u00a0
128 \u00a0
Pensions \u2013 defined benefit obligations (note 3.7) \u00a0
4
4
Other employee costs \u00a0
132 \u00a0
146 \u00a0
Total employee costs \u00a0
1,611 \u00a0
2,162 \u00a0
Total employee costs, discontinued operations \u00a0
347 \u00a0
794 \u00a0
Total employee costs, continuing operations \u00a0
1,264 \u00a0
1,368 \u00a0
Included in the income statement under the following headings: \u00a0
Cost of goods sold \u00a0
977 \u00a0
951 \u00a0
Sales and marketing costs \u00a0
56 \u00a0
69 \u00a0
Administrative expenses \u00a0
163 \u00a0
149 \u00a0
Special items \u00a0
68 \u00a0
199 \u00a0
Total employee costs \u00a0
1,264 \u00a0
1,368 \u00a0
Average number of full-time employees, total \u00a0
1,974 \u00a0
3,169 \u00a0
Average number of full-time employees, continuing \u00a0
1,773 \u00a0
1,809 \u00a0
Remuneration of Board of Directors and Group Management \u00a0
The current policy for the remuneration of the Board of Directors and Executive Management was adopted in \u00a0
2022 and sets out the general guidelines for the remuneration of the Group\u2019s management. The guidelines for \u00a0
the remuneration of the Board of Directors and Executive Management are available on NNIT\u2019s website. \u00a0
In addition to the disclosures provided in this note, more details on the remuneration of Executive Management \u00a0
and Directors are provided in the separate Remuneration report, which is not a part of the audited financial \u00a0
statements. The report is also available on NNIT\u2019s website. \u00a0
Board of Directors remuneration \u00a0
DKK million \u00a0
2023 \u00a0
2022 \u00a0
Ordinary board member fee \u00a0
3.6 \u00a0
3.5 \u00a0
Audit Committee \u00a0
0.3 \u00a0
0.3 \u00a0
Remuneration Committee \u00a0
0.2 \u00a0
0.2 \u00a0
Total fee to Board of Directors \u00a0
4.1 \u00a0
4.0 \u00a0
Group Management's remuneration and share-based payment \u00a0
2023 \u00a0
Other \u00a0
members \u00a0
Executive \u00a0
of Group \u00a0
DKK million \u00a0
Management Management \u00a0
Total \u00a0
Base salary \u00a0
7.4 \u00a0
13.6 \u00a0
21.0 \u00a0
Cash Bonus (STIP and employee benefit cost)1 \u00a0
4.1 \u00a0
7.3 \u00a0
11.4 \u00a0
One off bonus \u00a0
3.4 \u00a0
6.0 \u00a0
9.4 \u00a0
Remuneration in connection with redundancy, \u00a0
resignations and release from duty to work \u00a0
-
11.6 \u00a0
11.6 \u00a0
Pension \u00a0
0.4 \u00a0
1.6 \u00a0
2.0 \u00a0
Benefits \u00a0
0.4 \u00a0
1.3 \u00a0
1.7 \u00a0
Share-based incentives 2 \u00a0
-
0.3 \u00a0
0.3 \u00a0
Group Management total \u00a0
15.7 \u00a0
41.7 \u00a0
57.4 \u00a0
1\ua880\ua881Employee\ua881benefit\ua881cost\ua881(contingent\ua881consideration\ua881agreement)\ua881related\ua881to\ua881the\ua881acquisition\ua881of\ua881Excellis\ua881Health\ua881Solutions.\ua881Following\ua881a\ua881decision\ua881 \u00a0
by the Danish Business Authority concerning accounting treatment of Employee benefit cost (earn-out payment) related to acquisitions, \u00a0
these payments are to be considered and expensed as salary. NNIT has appealed this decision. \u00a0
2\ua880Includes\ua881the\ua881annually\ua881recognized\ua881expense\ua881on\ua881granted\ua881share\ua881based\ua881and\ua881launch\ua881incentive\ua881programmes,\ua881which\ua881are\ua881not\ua881released. \u00a0
2022 \u00a0
Other \u00a0
members \u00a0
Executive \u00a0
of Group \u00a0
DKK million \u00a0
Management Management \u00a0
Total \u00a0
Base salary \u00a0
7.6 \u00a0
6.5 \u00a0
14.1 \u00a0
Cash Bonus (STIP and one-off) \u00a0
1.9 \u00a0
1.1 \u00a0
3.0 \u00a0
One off bonus \u00a0
2.1 \u00a0
0.4 \u00a0
2.5 \u00a0
Remuneration in connection with redundancy, \u00a0
resignations and release from duty to work \u00a0
-
0.6 \u00a0
0.6 \u00a0
Pension \u00a0
0.5 \u00a0
0.8 \u00a0
1.3 \u00a0
Benefits \u00a0
0.4 \u00a0
0.3 \u00a0
0.7 \u00a0
Group Management total \u00a0
12.5 \u00a0
9.7 \u00a0
22.2 \u00a0
Short-term incentive program (STIP) \u00a0
Group Management and certain other employees participate in a STIP program, which entitles each participant \u00a0
to receive an annual performance-based cash bonus, linked to the achievement of a number of predefined \u00a0
functional and individual business targets. Performance is measured for each financial year and the cash-based \u00a0
incentives, if any, are paid after announcement of the annual report for the subsequent year. \u00a0
Long-term incentive program (LTIP) \u00a0
LTIP is designed to promote the collective performance of Group Management and Vice Presidents to align the \u00a0
interests of executives and shareholders. \u00a0
The program is based on earnings, before interest and tax compared to the targeted level. In addition, the real- \u00a0
ized free cash flow compared to the targeted level is taken into consideration. \u00a0
NNIT's Board of Directors approves the financial targets for the coming year, ensuring that the short-term \u00a0
targets are aligned with NNIT's long-term targets and strategy. \u00a0
The allocation under LTIP for the CEO cannot exceed the equivalent of ten months\u2019 fixed base salary including \u00a0
pension contribution, and the allocation for the CFO cannot exceed the equivalent of eight months of such \u00a0
person's fixed base salary including pension contribution. The allocation for the other members of Group \u00a0
Management cannot exceed the equivalent of six months fixed base salary including pension contribution. A \u00a0
fixed and predefined number of shares will be allocated to Vice Presidents. \u00a0
The shares allocated to the members of Group Management that are fully vested, will be released to the indi- \u00a0
vidual participants subsequent to the approval of the Annual Report 2023 by the Board of Directors. \u00a0
Based on the share price at the end of 2023, the value of the released shares is as follows: \u00a0
Number \u00a0
Market \u00a0
DKK million \u00a0
of shares \u00a0
value \u00a0
Values at December 31, 2023 of shares to be released February 19, 2024 \u00a0
P\u00e4r Fors \u00a0
-
-
Carsten Ringius \u00a0
-
-
Executive Management \u00a0
-
-
Other members of Group Management \u00a0
3,130 \u00a0
0.3 \u00a0
Group Management total \u00a0
3,130 \u00a0
0.3 \u00a0
Please refer to note 5.1 for an overview of outstanding RSU\u2019s. \u00a0
3.7 Employee
benefit obligations \u00a0
Defined benefit pension obligations \u00a0
DKK million \u00a0
Pension liability \u00a0
Plan asset \u00a0
Net liability \u00a0
2023 \u00a0
At the beginning of the year \u00a0
61 \u00a0
59 \u00a0
2
Current service costs \u00a0
(4) \u00a0
-
(4) \u00a0
Interest cost \u00a0
(2) \u00a0
1
(3) \u00a0
Employer contributions \u00a0
2
5
(3) \u00a0
Benefits paid from plan asset \u00a0
13 \u00a0
(13) \u00a0
26 \u00a0
Remeasurement gains/(losses) recognized in \u00a0
other comprehensive income \u00a0
(1) \u00a0
(1) \u00a0
-
Plan participant contribution etc. \u00a0
(2) \u00a0
2
(4) \u00a0
Exchange rate adjustments \u00a0
(5) \u00a0
3
(8) \u00a0
At the end of the year \u00a0
62 \u00a0
56 \u00a0
6
DKK million \u00a0
Pension liability \u00a0
Plan asset \u00a0
Net liability \u00a0
2022 \u00a0
At the beginning of the year \u00a0
79 \u00a0
62 \u00a0
17 \u00a0
Current service costs \u00a0
5
-
5
Employer contributions \u00a0
-
5
(5) \u00a0
Benefits paid from plan asset \u00a0
(12) \u00a0
(12) \u00a0
-
Remeasurement gains/(losses) recognized in \u00a0
other comprehensive income \u00a0
(14) \u00a0
-
(14) \u00a0
Plan participant contribution etc. \u00a0
2
2
-
Transferred to liabilities directly associated with \u00a0
assets classified as held for sale \u00a0
(5) \u00a0
(4) \u00a0
(1) \u00a0
Exchange rate adjustments \u00a0
6
6
-
At the end of the year \u00a0
61 \u00a0
59 \u00a0
2
The defined benefit plans are usually funded by payments from Group companies and by employees to funds \u00a0
independent of NNIT. Where a plan is unfunded, a liability for the retirement obligation is recognized in the \u00a0
balance sheet. NNIT does not expect the contributions over the next five years to differ significantly from current \u00a0
contributions. The weighted average duration of the defined benefit obligation is 11.5 years (2022: 11.7 years). \u00a0
DKK million \u00a0
2023 \u00a0
2022 \u00a0
Assumptions used for valuation1 \u00a0
Discount rate \u00a0
1.75% \u00a0
2.46% \u00a0
Price inflation \u00a0
1.25% \u00a0
0.91% \u00a0
Projected future remuneration increases \u00a0
1.75% \u00a0
1.80% \u00a0
Interest crediting rate \u00a0
1.75% \u00a0
1.83% \u00a0
1\ua880\ua881Assumptions\ua881are\ua881calculated\ua881and\ua881presented\ua881as\ua881the\ua881Defined\ua881Benefit\ua881Plans\ua881in\ua881NNIT\ua881Switzerland\ua881AG.\ua881In\ua8812022\ua881the\ua881assumptions\ua881include\ua881NNIT\ua881 \u00a0
Switzerland AG and NNIT Philippines Inc. \u00a0
Actuarial valuations are performed annually. The most recent actuarial valuation is dated November 2023. \u00a0
DKK million \u00a0
2023 \u00a0
2022 \u00a0
Defined benefit pension obligations \u00a0
4
4
Employee benefit obligations (contingent consideration agreement) \u00a0
59 \u00a0
60 \u00a0
Total employee benefit obligations \u00a0
63 \u00a0
64 \u00a0
Total employee benefit obligations, non-current discontinued operations \u00a0
-
1
Total employee benefit obligations, continuing operations \u00a0
63 \u00a0
63 \u00a0
Employee benefit obligation is recognized in the balance sheet as followed: \u00a0
DKK million \u00a0
2023 \u00a0
2022 \u00a0
Non-current liabilities (1-5 years) \u00a0
6
13 \u00a0
Current liabilities \u00a0
57 \u00a0
50 \u00a0
Total employee benefit obligation \u00a0
63 \u00a0
63 \u00a0
5.1 Long-term
incentives \u00a0
Long-term share-based incentive program \u00a0
Group Management and the Vice Presidents are included in a long-term share-based incentive program. \u00a0
For more information regarding the long-term share-based incentive program, please refer to note 2.2 \u00a0
'Employee costs' \u00a0
Share-based payments are recognized at the following amounts: \u00a0
DKK million \u00a0
2023 \u00a0
2022 \u00a0
Long-term incentive program (LTIP) in NNIT shares - share based \u00a0
1
1
Incentive program charged to income statement \u00a0
1
1
Recognized in the income statement: \u00a0
Cost of goods sold \u00a0
1
1
Total \u00a0
1
1
Shares are recognized over the four-year vesting period at the market value at the grant date. Value adjust- \u00a0
ments are recognized as financial items. \u00a0
Outstanding restricted stock units (in NNIT shares): \u00a0
Number '000 \u00a0
2023 \u00a0
2022 \u00a0
Outstanding at the beginning of the year \u00a0
141 \u00a0
190 \u00a0
Long-term incentive program (LTIP)2 \u00a0
125 \u00a0
17 \u00a0
Retention Program (RP) \u00a0
-
3
Transfer to employees \u00a0
(31) \u00a0
(62) \u00a0
Committed to employees \u00a0
(9) \u00a0
-
Forfeiture during the year \u00a0
(17) \u00a0
(7) \u00a0
Outstanding at the end of the year (in NNIT shares) \u00a0
209 \u00a0
141 \u00a0
Fair value of the RSU's end of period (DKK million)1 \u00a0
18 \u00a0
9
1\ua880\ua881The\ua881share\ua881price\ua881as\ua881of\ua881December\ua88131,\ua8812023\ua881has\ua881been\ua881used\ua881when\ua881calculating\ua881the\ua881fair\ua881value\ua881of\ua881the\ua881RSU\u2019s. \u00a0
2\ua880Key\ua881management\ua881has\ua881been\ua881in\ua881total\ua881granted\ua88187,657\ua881shares\ua881with\ua881a\ua881fair\ua881value\ua881of\ua881DKK\ua8817.4\ua881million\ua881as\ua881of\ua881December\ua88131,\ua8812023 \u00a0
",
"dimensions": {
"concept": "ifrs-full:DisclosureOfEmployeeBenefitsExplanatory",
"language": "en",
"entity": "scheme:549300KM8QVF7WR40664",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"fact2098": {
"value": "Employee benefits \u00a0
Wages, salaries, social security contributions, paid \u00a0
annual leave and sick leave, bonuses and non-mon- \u00a0
etary benefits are recognized in the financial year in \u00a0
which the NNIT employee provided the related work \u00a0
service. \u00a0
Contingent Consideration Agreement \u00a0
The contingent consideration for Excellis Health \u00a0
Solutions, SL Controls and Prime4Services is \u00a0
accrued over the period from the acquisition \u00a0
date until the payment is based on expected \u00a0
achieved performance conditioned on employment \u00a0
(projected unit credit method). The cost is recog- \u00a0
nized as wages and salaries under special items in \u00a0
the income statement. \u00a0
Pensions \u00a0
NNIT operates a number of defined-contribution \u00a0
pension plans. The costs of these pension plans are \u00a0
recognized in the financial year in which the relevant \u00a0
NNIT employees provided the related service. \u00a0
In some countries NNIT operates defined-benefit \u00a0
plans. Such liabilities are measured at the present \u00a0
value of the expected payments related to benefits \u00a0
accrued at the balance sheet date less the fair value \u00a0
of plan assets by applying the projected unit credit \u00a0
method. Plan assets, if any, are measured at fair \u00a0
value and offset against the defined benefit obli- \u00a0
gation in the balance sheet. Service costs and the \u00a0
interest component are recognized in the income \u00a0
statement. Actuarial gains and losses are recog- \u00a0
nized in other comprehensive income in the period \u00a0
in which they occur. Settlements are immediately \u00a0
recognized in the income statement. \u00a0
Long-term incentive and retention programs \u00a0
NNIT has two different share-based incentive \u00a0
programs; long-term incentive program (LTIP) and \u00a0
retention program (RP). \u00a0
Long-term incentive program (LTIP) \u00a0
Group Management and the Vice President Group \u00a0
are part of a long-term share-based incentive \u00a0
program (LTIP). \u00a0
Under the program, NNIT allocates shares based on \u00a0
operating profit and free cash flow. \u00a0
LTIP \u00a0
The participants receive NNIT shares. The shares \u00a0
are subject to a lock-up period of four years. \u00a0
NNIT has the obligation to deliver treasury shares, \u00a0
and accordingly, the arrangement is classified as \u00a0
an equitysettled arrangement and will be charged \u00a0
to the income statement over the four-year vesting \u00a0
period based on the market price at the grant date. \u00a0
",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForEmployeeBenefitsExplanatory",
"language": "en",
"entity": "scheme:549300KM8QVF7WR40664",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"fact2088": {
"value": "Equity \u00a0
Treasury shares \u00a0
Treasury shares are deducted from equity. Acqui- \u00a0
sition/disposal of treasury shares are recognized \u00a0
directly in equity. \u00a0
",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForTreasurySharesExplanatory",
"language": "en",
"entity": "scheme:549300KM8QVF7WR40664",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"fact2089": {
"value": "Equity \u00a0
Treasury shares \u00a0
Treasury shares are deducted from equity. Acqui- \u00a0
sition/disposal of treasury shares are recognized \u00a0
directly in equity. \u00a0
Number \u00a0
Nominal Market
value \u00a0
As % of \u00a0
of shares \u00a0
DKK \u00a0
value \u00a0
(million) share
capital \u00a0
(thousand) \u00a0
2023 \u00a0
Treasury shares \u00a0
Holding at the beginning of the year \u00a0
1
11 \u00a0
0.6% \u00a0
162 \u00a0
Disposal \u00a0
-
(3) \u00a0
(0.1%) \u00a0
(31) \u00a0
Value adjustments \u00a0
-
3
0.0% \u00a0
-
Holding at the end of the year \u00a0
1
11 \u00a0
0.5% \u00a0
131 \u00a0
Treasury shares held relates to the long-term incentive program. Retained earnings are accumulated earnings. \u00a0
Exchange rate adjustments are the difference between average exchange rates in the year and exchange rates \u00a0
at the balance sheet date when consolidating subsidiaries. \u00a0
",
"dimensions": {
"concept": "ifrs-full:DisclosureOfTreasurySharesExplanatory",
"language": "en",
"entity": "scheme:549300KM8QVF7WR40664",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"fact2059": {
"value": "Inventories \u00a0
Goods for resale are measured at the lower of cost \u00a0
and net realizable value. \u00a0
",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForMeasuringInventories",
"language": "en",
"entity": "scheme:549300KM8QVF7WR40664",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"fact2060": {
"value": "Inventories \u00a0
Goods for resale are measured at the lower of cost \u00a0
and net realizable value. \u00a0
",
"dimensions": {
"concept": "ifrs-full:DisclosureOfInventoriesExplanatory",
"language": "en",
"entity": "scheme:549300KM8QVF7WR40664",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"fact2062": {
"value": "Trade receivables \u00a0
Trade receivables are initially recognized at fair value \u00a0
and subsequently measured at amortized cost using \u00a0
the effective interest method, less allowance for \u00a0
doubtful trade receivables. \u00a0
Allowance for doubtful trade receivables is made \u00a0
using the expected credit loss model, which uses a \u00a0
lifetime expected loss allowance for all trade receiv- \u00a0
ables. \u00a0
The allowance is deducted from the carrying \u00a0
amount of trade receivables and the amount of the \u00a0
loss is recognized in the income statement under \u00a0
cost of goods sold. \u00a0
Other receivables and prepayments \u00a0
Current receivables \u00a0
Current receivables are measured at amortized cost \u00a0
less potential write-downs for impairment losses. \u00a0
Write-downs are based on individual assessments \u00a0
of each debtor. \u00a0
Prepayments \u00a0
Prepayments comprise costs incurred for the next \u00a0
financial year. These are usually prepayments for \u00a0
maintenance of hardware and software licenses. \u00a0
",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForTradeAndOtherReceivablesExplanatory",
"language": "en",
"entity": "scheme:549300KM8QVF7WR40664",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"fact2063": {
"value": "Trade receivables \u00a0
Trade receivables are initially recognized at fair value \u00a0
and subsequently measured at amortized cost using \u00a0
the effective interest method, less allowance for \u00a0
doubtful trade receivables. \u00a0
Allowance for doubtful trade receivables is made \u00a0
using the expected credit loss model, which uses a \u00a0
lifetime expected loss allowance for all trade receiv- \u00a0
ables. \u00a0
The allowance is deducted from the carrying \u00a0
amount of trade receivables and the amount of the \u00a0
loss is recognized in the income statement under \u00a0
cost of goods sold. \u00a0
Other receivables and prepayments \u00a0
Current receivables \u00a0
Current receivables are measured at amortized cost \u00a0
less potential write-downs for impairment losses. \u00a0
Write-downs are based on individual assessments \u00a0
of each debtor. \u00a0
Prepayments \u00a0
Prepayments comprise costs incurred for the next \u00a0
financial year. These are usually prepayments for \u00a0
maintenance of hardware and software licenses. \u00a0
3.6 Trade
receivables \u00a0
DKK million \u00a0
2023 \u00a0
2022 \u00a0
Total trade receivables (gross) \u00a0
482 \u00a0
618 \u00a0
Allowances for bad debt in the year \u00a0
6
-
Total trade receivables (net) \u00a0
476 \u00a0
618 \u00a0
Total trade receivables (net), discontinued operations \u00a0
-
234 \u00a0
Total trade receivables (net), continuing operations \u00a0
476 \u00a0
384 \u00a0
Trade receivables is recognized in the balance sheet as follows: \u00a0
Trade receivables, non-current \u00a0
25 \u00a0
1
Trade receivables, current \u00a0
451 \u00a0
383 \u00a0
Total trade receivables \u00a0
476 \u00a0
384 \u00a0
NNIT applies the IFRS 9 simplified approach to measure expected credit losses, which uses a lifetime expected \u00a0
loss allowance for all trade receivables. NNIT has assessed historical realized losses adjusted by a forward-looking \u00a0
estimate related to the probability of a significant change in the economic environment. Historically NNIT has not \u00a0
realized any losses on trade receivables due to the economic environment. Losses have been due to claim settle- \u00a0
ment with customers. \u00a0
Further NNIT continuously conduct individual assessments of bad debts. If this leads to an assessment that NNIT \u00a0
will not be able to collect all outstanding payments, an allowance for bad debt is made. NNIT A/S has based on an \u00a0
individual assessment recognised expected credit loss of DKK 6 million as of 31 December 2023 (2022: DKK 0.3 \u00a0
million). \u00a0
DKK million \u00a0
2023 \u00a0
2022 \u00a0
Aging of non-impaired trade receivables: \u00a0
Non-invoiced trade receivables \u00a0
60 \u00a0
208 \u00a0
Not due at balance sheet date \u00a0
281 \u00a0
300 \u00a0
Overdue between 1 and 30 days \u00a0
81 \u00a0
59 \u00a0
Overdue between 31 and 60 days \u00a0
34 \u00a0
23 \u00a0
Overdue by more than 60 days \u00a0
20 \u00a0
28 \u00a0
Total trade receivables \u00a0
476 \u00a0
618 \u00a0
Total trade receivables, discontinued operations \u00a0
-
234 \u00a0
Total trade receivables, continuing operations \u00a0
476 \u00a0
384 \u00a0
Part of the non-invoiced trade receivables are regarding long-term projects, where the amount will be invoiced \u00a0
to the customer over the operation period which is more than one year. The long-term project amount to DKK \u00a0
49 million as of 31 December 2023 (2022: DKK 23 million), of these 24 million will be invoiced in 2024. \u00a0
",
"dimensions": {
"concept": "ifrs-full:DisclosureOfTradeAndOtherReceivablesExplanatory",
"language": "en",
"entity": "scheme:549300KM8QVF7WR40664",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"fact2091": {
"value": "Dividend \u00a0
Dividend distribution to the shareholders of NNIT \u00a0
is recognized as a liability when dividends are \u00a0
declared. Proposed dividends are disclosed in the \u00a0
statement of changes in equity. \u00a0
",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForDividendsExplanatory",
"language": "en",
"entity": "scheme:549300KM8QVF7WR40664",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"fact2092": {
"value": "Dividend \u00a0
Dividend distribution to the shareholders of NNIT \u00a0
is recognized as a liability when dividends are \u00a0
declared. Proposed dividends are disclosed in the \u00a0
statement of changes in equity. \u00a0
Proposed dividends are the dividends proposed by the Board of Directors for the financial year. \u00a0
DKK million \u00a0
2023 \u00a0
2022 \u00a0
Net cash distribution to shareholders \u00a0
-
-
Ordinary dividends Interim dividends \u00a0
-
-
Total \u00a0
-
-
No interim dividend was declared in 2023 and no dividend will be declared at the end of 2023. \u00a0
",
"dimensions": {
"concept": "ifrs-full:DisclosureOfDividendsExplanatory",
"language": "en",
"entity": "scheme:549300KM8QVF7WR40664",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"fact2067": {
"value": "Allowance for doubtful trade receivables is made \u00a0
using the expected credit loss model, which uses a \u00a0
lifetime expected loss allowance for all trade receiv- \u00a0
ables. \u00a0
The allowance is deducted from the carrying \u00a0
amount of trade receivables and the amount of the \u00a0
loss is recognized in the income statement under \u00a0
cost of goods sold. \u00a0
3.6 Trade
receivables \u00a0
DKK million \u00a0
2023 \u00a0
2022 \u00a0
Total trade receivables (gross) \u00a0
482 \u00a0
618 \u00a0
Allowances for bad debt in the year \u00a0
6
-
Total trade receivables (net) \u00a0
476 \u00a0
618 \u00a0
Total trade receivables (net), discontinued operations \u00a0
-
234 \u00a0
Total trade receivables (net), continuing operations \u00a0
476 \u00a0
384 \u00a0
Trade receivables is recognized in the balance sheet as follows: \u00a0
Trade receivables, non-current \u00a0
25 \u00a0
1
Trade receivables, current \u00a0
451 \u00a0
383 \u00a0
Total trade receivables \u00a0
476 \u00a0
384 \u00a0
NNIT applies the IFRS 9 simplified approach to measure expected credit losses, which uses a lifetime expected \u00a0
loss allowance for all trade receivables. NNIT has assessed historical realized losses adjusted by a forward-looking \u00a0
estimate related to the probability of a significant change in the economic environment. Historically NNIT has not \u00a0
realized any losses on trade receivables due to the economic environment. Losses have been due to claim settle- \u00a0
ment with customers. \u00a0
Further NNIT continuously conduct individual assessments of bad debts. If this leads to an assessment that NNIT \u00a0
will not be able to collect all outstanding payments, an allowance for bad debt is made. NNIT A/S has based on an \u00a0
individual assessment recognised expected credit loss of DKK 6 million as of 31 December 2023 (2022: DKK 0.3 \u00a0
million). \u00a0
DKK million \u00a0
2023 \u00a0
2022 \u00a0
Aging of non-impaired trade receivables: \u00a0
Non-invoiced trade receivables \u00a0
60 \u00a0
208 \u00a0
Not due at balance sheet date \u00a0
281 \u00a0
300 \u00a0
Overdue between 1 and 30 days \u00a0
81 \u00a0
59 \u00a0
Overdue between 31 and 60 days \u00a0
34 \u00a0
23 \u00a0
Overdue by more than 60 days \u00a0
20 \u00a0
28 \u00a0
Total trade receivables \u00a0
476 \u00a0
618 \u00a0
Total trade receivables, discontinued operations \u00a0
-
234 \u00a0
Total trade receivables, continuing operations \u00a0
476 \u00a0
384 \u00a0
Part of the non-invoiced trade receivables are regarding long-term projects, where the amount will be invoiced \u00a0
to the customer over the operation period which is more than one year. The long-term project amount to DKK \u00a0
49 million as of 31 December 2023 (2022: DKK 23 million), of these 24 million will be invoiced in 2024. \u00a0
",
"dimensions": {
"concept": "ifrs-full:DisclosureOfAllowanceForCreditLossesExplanatory",
"language": "en",
"entity": "scheme:549300KM8QVF7WR40664",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"fact2102": {
"value": "Pensions \u00a0
NNIT operates a number of defined-contribution \u00a0
pension plans. The costs of these pension plans are \u00a0
recognized in the financial year in which the relevant \u00a0
NNIT employees provided the related service. \u00a0
In some countries NNIT operates defined-benefit \u00a0
plans. Such liabilities are measured at the present \u00a0
value of the expected payments related to benefits \u00a0
accrued at the balance sheet date less the fair value \u00a0
of plan assets by applying the projected unit credit \u00a0
method. Plan assets, if any, are measured at fair \u00a0
value and offset against the defined benefit obli- \u00a0
gation in the balance sheet. Service costs and the \u00a0
interest component are recognized in the income \u00a0
statement. Actuarial gains and losses are recog- \u00a0
nized in other comprehensive income in the period \u00a0
in which they occur. Settlements are immediately \u00a0
recognized in the income statement. \u00a0
2.2 Employee costs \u00a0
DKK million \u00a0
2023 \u00a0
2022 \u00a0
Employee costs comprise: \u00a0
Wages and salaries \u00a0
1,383 \u00a0
1,882 \u00a0
Share-based payments \u00a0
1
2
Pensions \u2013 defined contribution plans \u00a0
91 \u00a0
128 \u00a0
Pensions \u2013 defined benefit obligations (note 3.7) \u00a0
4
4
Other employee costs \u00a0
132 \u00a0
146 \u00a0
Total employee costs \u00a0
1,611 \u00a0
2,162 \u00a0
Total employee costs, discontinued operations \u00a0
347 \u00a0
794 \u00a0
Total employee costs, continuing operations \u00a0
1,264 \u00a0
1,368 \u00a0
Included in the income statement under the following headings: \u00a0
Cost of goods sold \u00a0
977 \u00a0
951 \u00a0
Sales and marketing costs \u00a0
56 \u00a0
69 \u00a0
Administrative expenses \u00a0
163 \u00a0
149 \u00a0
Special items \u00a0
68 \u00a0
199 \u00a0
Total employee costs \u00a0
1,264 \u00a0
1,368 \u00a0
Average number of full-time employees, total \u00a0
1,974 \u00a0
3,169 \u00a0
Average number of full-time employees, continuing \u00a0
1,773 \u00a0
1,809 \u00a0
3.7 Employee
benefit obligations \u00a0
Defined benefit pension obligations \u00a0
DKK million \u00a0
Pension liability \u00a0
Plan asset \u00a0
Net liability \u00a0
2023 \u00a0
At the beginning of the year \u00a0
61 \u00a0
59 \u00a0
2
Current service costs \u00a0
(4) \u00a0
-
(4) \u00a0
Interest cost \u00a0
(2) \u00a0
1
(3) \u00a0
Employer contributions \u00a0
2
5
(3) \u00a0
Benefits paid from plan asset \u00a0
13 \u00a0
(13) \u00a0
26 \u00a0
Remeasurement gains/(losses) recognized in \u00a0
other comprehensive income \u00a0
(1) \u00a0
(1) \u00a0
-
Plan participant contribution etc. \u00a0
(2) \u00a0
2
(4) \u00a0
Exchange rate adjustments \u00a0
(5) \u00a0
3
(8) \u00a0
At the end of the year \u00a0
62 \u00a0
56 \u00a0
6
DKK million \u00a0
Pension liability \u00a0
Plan asset \u00a0
Net liability \u00a0
2022 \u00a0
At the beginning of the year \u00a0
79 \u00a0
62 \u00a0
17 \u00a0
Current service costs \u00a0
5
-
5
Employer contributions \u00a0
-
5
(5) \u00a0
Benefits paid from plan asset \u00a0
(12) \u00a0
(12) \u00a0
-
Remeasurement gains/(losses) recognized in \u00a0
other comprehensive income \u00a0
(14) \u00a0
-
(14) \u00a0
Plan participant contribution etc. \u00a0
2
2
-
Transferred to liabilities directly associated with \u00a0
assets classified as held for sale \u00a0
(5) \u00a0
(4) \u00a0
(1) \u00a0
Exchange rate adjustments \u00a0
6
6
-
At the end of the year \u00a0
61 \u00a0
59 \u00a0
2
The defined benefit plans are usually funded by payments from Group companies and by employees to funds \u00a0
independent of NNIT. Where a plan is unfunded, a liability for the retirement obligation is recognized in the \u00a0
balance sheet. NNIT does not expect the contributions over the next five years to differ significantly from current \u00a0
contributions. The weighted average duration of the defined benefit obligation is 11.5 years (2022: 11.7 years). \u00a0
DKK million \u00a0
2023 \u00a0
2022 \u00a0
Assumptions used for valuation1 \u00a0
Discount rate \u00a0
1.75% \u00a0
2.46% \u00a0
Price inflation \u00a0
1.25% \u00a0
0.91% \u00a0
Projected future remuneration increases \u00a0
1.75% \u00a0
1.80% \u00a0
Interest crediting rate \u00a0
1.75% \u00a0
1.83% \u00a0
1\ua880\ua881Assumptions\ua881are\ua881calculated\ua881and\ua881presented\ua881as\ua881the\ua881Defined\ua881Benefit\ua881Plans\ua881in\ua881NNIT\ua881Switzerland\ua881AG.\ua881In\ua8812022\ua881the\ua881assumptions\ua881include\ua881NNIT\ua881 \u00a0
Switzerland AG and NNIT Philippines Inc. \u00a0
Actuarial valuations are performed annually. The most recent actuarial valuation is dated November 2023. \u00a0
DKK million \u00a0
2023 \u00a0
2022 \u00a0
Defined benefit pension obligations \u00a0
4
4
Employee benefit obligations (contingent consideration agreement) \u00a0
59 \u00a0
60 \u00a0
Total employee benefit obligations \u00a0
63 \u00a0
64 \u00a0
Total employee benefit obligations, non-current discontinued operations \u00a0
-
1
Total employee benefit obligations, continuing operations \u00a0
63 \u00a0
63 \u00a0
Employee benefit obligation is recognized in the balance sheet as followed: \u00a0
DKK million \u00a0
2023 \u00a0
2022 \u00a0
Non-current liabilities (1-5 years) \u00a0
6
13 \u00a0
Current liabilities \u00a0
57 \u00a0
50 \u00a0
Total employee benefit obligation \u00a0
63 \u00a0
63 \u00a0
",
"dimensions": {
"concept": "ifrs-full:DisclosureOfDefinedBenefitPlansExplanatory",
"language": "en",
"entity": "scheme:549300KM8QVF7WR40664",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"fact2077": {
"value": "Assets classified as held for sale \u00a0
Assets classified as held for sale comprise assets \u00a0
and liabilities for which it is highly likely that the \u00a0
value will be recovered through a sale within 12 \u00a0
months rather than through continued use. Assets \u00a0
and liabilities classified as held for sale are meas- \u00a0
ured at the lower of the carrying amount and fair \u00a0
value less cost to sell at the classification date as \u00a0
\u201cheld for sale\u201d. Assets held for sale are not depre- \u00a0
ciated. Impairment losses arising on first classifi- \u00a0
cation as \u201cheld for sale\u201d and gains and losses from \u00a0
the subsequent measurement is recognized in the \u00a0
income statement under the items they concern. \u00a0
On 22 June 2022 the Board of Directors announced \u00a0
its decision to divest its Hybrid Cloud Solutions busi- \u00a0
ness unit as well as select parts of its Cloud & Digital \u00a0
Solutions business unit to funds advised by Agilitas \u00a0
Private Equity LLP. The associated assets and liabil- \u00a0
ities have been evaluated at year end and found \u00a0
eligible for the carve out and presented as held for \u00a0
sale in the 2022 financial statements. \u00a0
",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForNoncurrentAssetsOrDisposalGroupsClassifiedAsHeldForSaleAndDiscontinuedOperationsExplanatory",
"language": "en",
"entity": "scheme:549300KM8QVF7WR40664",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"fact2081": {
"value": "Assets classified as held for sale \u00a0
Assets classified as held for sale comprise assets \u00a0
and liabilities for which it is highly likely that the \u00a0
value will be recovered through a sale within 12 \u00a0
months rather than through continued use. Assets \u00a0
and liabilities classified as held for sale are meas- \u00a0
ured at the lower of the carrying amount and fair \u00a0
value less cost to sell at the classification date as \u00a0
\u201cheld for sale\u201d. Assets held for sale are not depre- \u00a0
ciated. Impairment losses arising on first classifi- \u00a0
cation as \u201cheld for sale\u201d and gains and losses from \u00a0
the subsequent measurement is recognized in the \u00a0
income statement under the items they concern. \u00a0
On 22 June 2022 the Board of Directors announced \u00a0
its decision to divest its Hybrid Cloud Solutions busi- \u00a0
ness unit as well as select parts of its Cloud & Digital \u00a0
Solutions business unit to funds advised by Agilitas \u00a0
Private Equity LLP. The associated assets and liabil- \u00a0
ities have been evaluated at year end and found \u00a0
eligible for the carve out and presented as held for \u00a0
sale in the 2022 financial statements. \u00a0
",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForNoncurrentAssetsOrDisposalGroupsClassifiedAsHeldForSaleExplanatory",
"language": "en",
"entity": "scheme:549300KM8QVF7WR40664",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"fact2106": {
"value": "Long-term incentive and retention programs \u00a0
NNIT has two different share-based incentive \u00a0
programs; long-term incentive program (LTIP) and \u00a0
retention program (RP). \u00a0
Long-term incentive program (LTIP) \u00a0
Group Management and the Vice President Group \u00a0
are part of a long-term share-based incentive \u00a0
program (LTIP). \u00a0
Under the program, NNIT allocates shares based on \u00a0
operating profit and free cash flow. \u00a0
LTIP \u00a0
The participants receive NNIT shares. The shares \u00a0
are subject to a lock-up period of four years. \u00a0
NNIT has the obligation to deliver treasury shares, \u00a0
and accordingly, the arrangement is classified as \u00a0
an equitysettled arrangement and will be charged \u00a0
to the income statement over the four-year vesting \u00a0
period based on the market price at the grant date. \u00a0
",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForSharebasedPaymentTransactionsExplanatory",
"language": "en",
"entity": "scheme:549300KM8QVF7WR40664",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"fact2107": {
"value": "Long-term incentive and retention programs \u00a0
NNIT has two different share-based incentive \u00a0
programs; long-term incentive program (LTIP) and \u00a0
retention program (RP). \u00a0
Long-term incentive program (LTIP) \u00a0
Group Management and the Vice President Group \u00a0
are part of a long-term share-based incentive \u00a0
program (LTIP). \u00a0
Under the program, NNIT allocates shares based on \u00a0
operating profit and free cash flow. \u00a0
LTIP \u00a0
The participants receive NNIT shares. The shares \u00a0
are subject to a lock-up period of four years. \u00a0
NNIT has the obligation to deliver treasury shares, \u00a0
and accordingly, the arrangement is classified as \u00a0
an equitysettled arrangement and will be charged \u00a0
to the income statement over the four-year vesting \u00a0
period based on the market price at the grant date. \u00a0
Group Management's remuneration and share-based payment \u00a0
2023 \u00a0
Other \u00a0
members \u00a0
Executive \u00a0
of Group \u00a0
DKK million \u00a0
Management Management \u00a0
Total \u00a0
Base salary \u00a0
7.4 \u00a0
13.6 \u00a0
21.0 \u00a0
Cash Bonus (STIP and employee benefit cost)1 \u00a0
4.1 \u00a0
7.3 \u00a0
11.4 \u00a0
One off bonus \u00a0
3.4 \u00a0
6.0 \u00a0
9.4 \u00a0
Remuneration in connection with redundancy, \u00a0
resignations and release from duty to work \u00a0
-
11.6 \u00a0
11.6 \u00a0
Pension \u00a0
0.4 \u00a0
1.6 \u00a0
2.0 \u00a0
Benefits \u00a0
0.4 \u00a0
1.3 \u00a0
1.7 \u00a0
Share-based incentives 2 \u00a0
-
0.3 \u00a0
0.3 \u00a0
Group Management total \u00a0
15.7 \u00a0
41.7 \u00a0
57.4 \u00a0
1\ua880\ua881Employee\ua881benefit\ua881cost\ua881(contingent\ua881consideration\ua881agreement)\ua881related\ua881to\ua881the\ua881acquisition\ua881of\ua881Excellis\ua881Health\ua881Solutions.\ua881Following\ua881a\ua881decision\ua881 \u00a0
by the Danish Business Authority concerning accounting treatment of Employee benefit cost (earn-out payment) related to acquisitions, \u00a0
these payments are to be considered and expensed as salary. NNIT has appealed this decision. \u00a0
2\ua880Includes\ua881the\ua881annually\ua881recognized\ua881expense\ua881on\ua881granted\ua881share\ua881based\ua881and\ua881launch\ua881incentive\ua881programmes,\ua881which\ua881are\ua881not\ua881released. \u00a0
2022 \u00a0
Other \u00a0
members \u00a0
Executive \u00a0
of Group \u00a0
DKK million \u00a0
Management Management \u00a0
Total \u00a0
Base salary \u00a0
7.6 \u00a0
6.5 \u00a0
14.1 \u00a0
Cash Bonus (STIP and one-off) \u00a0
1.9 \u00a0
1.1 \u00a0
3.0 \u00a0
One off bonus \u00a0
2.1 \u00a0
0.4 \u00a0
2.5 \u00a0
Remuneration in connection with redundancy, \u00a0
resignations and release from duty to work \u00a0
-
0.6 \u00a0
0.6 \u00a0
Pension \u00a0
0.5 \u00a0
0.8 \u00a0
1.3 \u00a0
Benefits \u00a0
0.4 \u00a0
0.3 \u00a0
0.7 \u00a0
Group Management total \u00a0
12.5 \u00a0
9.7 \u00a0
22.2 \u00a0
Short-term incentive program (STIP) \u00a0
Group Management and certain other employees participate in a STIP program, which entitles each participant \u00a0
to receive an annual performance-based cash bonus, linked to the achievement of a number of predefined \u00a0
functional and individual business targets. Performance is measured for each financial year and the cash-based \u00a0
incentives, if any, are paid after announcement of the annual report for the subsequent year. \u00a0
Long-term incentive program (LTIP) \u00a0
LTIP is designed to promote the collective performance of Group Management and Vice Presidents to align the \u00a0
interests of executives and shareholders. \u00a0
The program is based on earnings, before interest and tax compared to the targeted level. In addition, the real- \u00a0
ized free cash flow compared to the targeted level is taken into consideration. \u00a0
NNIT's Board of Directors approves the financial targets for the coming year, ensuring that the short-term \u00a0
targets are aligned with NNIT's long-term targets and strategy. \u00a0
The allocation under LTIP for the CEO cannot exceed the equivalent of ten months\u2019 fixed base salary including \u00a0
pension contribution, and the allocation for the CFO cannot exceed the equivalent of eight months of such \u00a0
person's fixed base salary including pension contribution. The allocation for the other members of Group \u00a0
Management cannot exceed the equivalent of six months fixed base salary including pension contribution. A \u00a0
fixed and predefined number of shares will be allocated to Vice Presidents. \u00a0
The shares allocated to the members of Group Management that are fully vested, will be released to the indi- \u00a0
vidual participants subsequent to the approval of the Annual Report 2023 by the Board of Directors. \u00a0
Based on the share price at the end of 2023, the value of the released shares is as follows: \u00a0
Number \u00a0
Market \u00a0
DKK million \u00a0
of shares \u00a0
value \u00a0
Values at December 31, 2023 of shares to be released February 19, 2024 \u00a0
P\u00e4r Fors \u00a0
-
-
Carsten Ringius \u00a0
-
-
Executive Management \u00a0
-
-
Other members of Group Management \u00a0
3,130 \u00a0
0.3 \u00a0
Group Management total \u00a0
3,130 \u00a0
0.3 \u00a0
Please refer to note 5.1 for an overview of outstanding RSU\u2019s. \u00a0
5.1 Long-term
incentives \u00a0
Long-term share-based incentive program \u00a0
Group Management and the Vice Presidents are included in a long-term share-based incentive program. \u00a0
For more information regarding the long-term share-based incentive program, please refer to note 2.2 \u00a0
'Employee costs' \u00a0
Share-based payments are recognized at the following amounts: \u00a0
DKK million \u00a0
2023 \u00a0
2022 \u00a0
Long-term incentive program (LTIP) in NNIT shares - share based \u00a0
1
1
Incentive program charged to income statement \u00a0
1
1
Recognized in the income statement: \u00a0
Cost of goods sold \u00a0
1
1
Total \u00a0
1
1
Shares are recognized over the four-year vesting period at the market value at the grant date. Value adjust- \u00a0
ments are recognized as financial items. \u00a0
Outstanding restricted stock units (in NNIT shares): \u00a0
Number '000 \u00a0
2023 \u00a0
2022 \u00a0
Outstanding at the beginning of the year \u00a0
141 \u00a0
190 \u00a0
Long-term incentive program (LTIP)2 \u00a0
125 \u00a0
17 \u00a0
Retention Program (RP) \u00a0
-
3
Transfer to employees \u00a0
(31) \u00a0
(62) \u00a0
Committed to employees \u00a0
(9) \u00a0
-
Forfeiture during the year \u00a0
(17) \u00a0
(7) \u00a0
Outstanding at the end of the year (in NNIT shares) \u00a0
209 \u00a0
141 \u00a0
Fair value of the RSU's end of period (DKK million)1 \u00a0
18 \u00a0
9
1\ua880\ua881The\ua881share\ua881price\ua881as\ua881of\ua881December\ua88131,\ua8812023\ua881has\ua881been\ua881used\ua881when\ua881calculating\ua881the\ua881fair\ua881value\ua881of\ua881the\ua881RSU\u2019s. \u00a0
2\ua880Key\ua881management\ua881has\ua881been\ua881in\ua881total\ua881granted\ua88187,657\ua881shares\ua881with\ua881a\ua881fair\ua881value\ua881of\ua881DKK\ua8817.4\ua881million\ua881as\ua881of\ua881December\ua88131,\ua8812023 \u00a0
",
"dimensions": {
"concept": "ifrs-full:DisclosureOfSharebasedPaymentArrangementsExplanatory",
"language": "en",
"entity": "scheme:549300KM8QVF7WR40664",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"fact2112": {
"value": "Trade payables \u00a0
Trade payables are measured at amortized cost. \u00a0
Other current liabilities \u00a0
Other current liabilities comprise accrued expenses \u00a0
and VAT. \u00a0
",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForTradeAndOtherPayablesExplanatory",
"language": "en",
"entity": "scheme:549300KM8QVF7WR40664",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"fact2113": {
"value": "Trade payables \u00a0
Trade payables are measured at amortized cost. \u00a0
Other current liabilities \u00a0
Other current liabilities comprise accrued expenses \u00a0
and VAT. \u00a0
",
"dimensions": {
"concept": "ifrs-full:DisclosureOfTradeAndOtherPayablesExplanatory",
"language": "en",
"entity": "scheme:549300KM8QVF7WR40664",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"fact2118": {
"value": "Cash flow statement \u00a0
The cash flow statement is prepared using the \u00a0
indirect method. The cash flow statement shows \u00a0
the cash flows for the year, divided into operating, \u00a0
investing and financing activities, and how these \u00a0
cash flows have affected the cash position for \u00a0
the year. \u00a0
Cash flow from operating activities \u00a0
Cash flows from operating activities are calculated \u00a0
as the net profit for the year, adjusted for non-cash \u00a0
operating items. These include amortization, depre- \u00a0
ciation and write-downs, share-based compen- \u00a0
sation, change in net working capital and interest \u00a0
received and paid. \u00a0
Cash flow from investing activities \u00a0
Cash flows from investing activities comprise cash \u00a0
flows from the purchase and sale of intangible, \u00a0
tangible and financial non-current assets and the \u00a0
purchase and sale of securities. Further including \u00a0
aqusition of subsidaries. \u00a0
Cash flow from financing activities \u00a0
Cash flows from financing activities comprise cash \u00a0
flows from raising and repaying long-term debt, \u00a0
dividend payments to shareholders, instalments on \u00a0
lease liabilities and credit facilities. \u00a0
Cash and cash equivalents \u00a0
Cash and cash equivalents include cash and \u00a0
deposits. \u00a0
The cash flow statement cannot be derived from the \u00a0
annual report alone. \u00a0
",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForCashFlowsExplanatory",
"language": "en",
"entity": "scheme:549300KM8QVF7WR40664",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"fact2119": {
"value": "Cash flow statement \u00a0
The cash flow statement is prepared using the \u00a0
indirect method. The cash flow statement shows \u00a0
the cash flows for the year, divided into operating, \u00a0
investing and financing activities, and how these \u00a0
cash flows have affected the cash position for \u00a0
the year. \u00a0
Cash flow from operating activities \u00a0
Cash flows from operating activities are calculated \u00a0
as the net profit for the year, adjusted for non-cash \u00a0
operating items. These include amortization, depre- \u00a0
ciation and write-downs, share-based compen- \u00a0
sation, change in net working capital and interest \u00a0
received and paid. \u00a0
Cash flow from investing activities \u00a0
Cash flows from investing activities comprise cash \u00a0
flows from the purchase and sale of intangible, \u00a0
tangible and financial non-current assets and the \u00a0
purchase and sale of securities. Further including \u00a0
aqusition of subsidaries. \u00a0
Cash flow from financing activities \u00a0
Cash flows from financing activities comprise cash \u00a0
flows from raising and repaying long-term debt, \u00a0
dividend payments to shareholders, instalments on \u00a0
lease liabilities and credit facilities. \u00a0
Cash and cash equivalents \u00a0
Cash and cash equivalents include cash and \u00a0
deposits. \u00a0
The cash flow statement cannot be derived from the \u00a0
annual report alone. \u00a0
Credit \u00a0
Lease \u00a0
DKK million \u00a0
Facilities \u00a0
liability \u00a0
Total \u00a0
2023 \u00a0
Financial liabilities included in finance activities \u00a0
Financing liabilities included in finance activities \u00a0
at the beginning of the year \u00a0
857 \u00a0
156 \u00a0
1,013 \u00a0
Cash flows: \u00a0
Instalments \u00a0
-
(66) \u00a0
(66) \u00a0
Ingoing/outgoing payments during the year \u00a0
(590) \u00a0
-
(590) \u00a0
Non-cash flows: \u00a0
Addition \u00a0
-
15 \u00a0
15 \u00a0
Disposals \u00a0
-
(40) \u00a0
(40) \u00a0
Exchange rate adjustment \u00a0
-
(1) \u00a0
(1) \u00a0
Total financial liabilities included in finance activities \u00a0
at the end of the year \u00a0
267 \u00a0
64 \u00a0
331 \u00a0
Credit \u00a0
Lease \u00a0
DKK million \u00a0
Facilities \u00a0
liability \u00a0
Total \u00a0
2022 \u00a0
Financial liabilities included in finance activities \u00a0
Financing liabilities included in finance activities \u00a0
at the beginning of the year \u00a0
496 \u00a0
207 \u00a0
703 \u00a0
Cash flows: \u00a0
Instalments \u00a0
-
(83) \u00a0
(83) \u00a0
Ingoing/outgoing payments during the year \u00a0
361 \u00a0
-
361 \u00a0
Non-cash flows: \u00a0
Addition \u00a0
-
36 \u00a0
36 \u00a0
Disposals \u00a0
-
(4) \u00a0
(4) \u00a0
Exchange rate adjustment \u00a0
-
-
-
Total financial liabilities included in finance activities \u00a0
at the end of the year \u00a0
857 \u00a0
156 \u00a0
1,013 \u00a0
5.3 Reversal of non-cash items \u00a0
DKK million \u00a0
2023 \u00a0
2022 \u00a0
Income taxes \u00a0
33 \u00a0
(22) \u00a0
Amortization, depreciation and impairment losses \u00a0
33 \u00a0
222 \u00a0
Gain/loss on disposed assets \u00a0
(1) \u00a0
(2) \u00a0
Gain on sublease \u00a0
(15) \u00a0
-
Gain on divestment \u00a0
(120) \u00a0
-
Increase/(decrease) in provisions, non-current transition cost \u00a0
8
(19) \u00a0
Provision share-based payments NNIT shares \u00a0
1
2
Allowances for bad debt \u00a0
6
4
Third party financing agreement \u00a0
-
35 \u00a0
Interests \u00a0
28 \u00a0
30 \u00a0
Sublease addition \u00a0
26 \u00a0
12 \u00a0
Other adjustments for non-cash items \u00a0
(13) \u00a0
(12) \u00a0
Total \u00a0
(14) \u00a0
250 \u00a0
5.4 Statement of cash flows \u2013 specifications \u00a0
DKK million \u00a0
2023 \u00a0
2022 \u00a0
Changes in working capital \u00a0
Increase/(decrease) in current receivables less non-current \u00a0
transition cost and tax receivables \u00a0
3
(70) \u00a0
Increase/(decrease) in current liabilities less provisions \u00a0
and tax payables \u00a0
(241) \u00a0
(42) \u00a0
Change in trade payables related to investments \u00a0
24 \u00a0
(16) \u00a0
Total \u00a0
(214) \u00a0
(128) \u00a0
Purchase of tangible assets \u00a0
Purchase of tangible assets \u00a0
(22) \u00a0
(119) \u00a0
Change in trade payables related to purchase of tangible assets \u00a0
(24) \u00a0
16 \u00a0
Total \u00a0
(46) \u00a0
(103) \u00a0
Additional cash flow information1 \u00a0
Cash and equivalents, assets \u00a0
254 \u00a0
208 \u00a0
Drawn on credit facilities \u00a0
(267) \u00a0
(857) \u00a0
Undrawn committed credit facilities \u00a0
300 \u00a0
1,050 \u00a0
Financial resources at the end of the year \u00a0
287 \u00a0
401 \u00a0
Cash flow from operating activities \u00a0
(202) \u00a0
(106) \u00a0
Cash flow from investing activities \u00a0
900 \u00a0
(197) \u00a0
Free cash flow \u00a0
698 \u00a0
(303) \u00a0
1\ua880\ua881Additional\ua881non-IFRS\ua881measures.\ua881'Financial\ua881resources\ua881at\ua881the\ua881end\ua881of\ua881the\ua881year'\ua881is\ua881defined\ua881as\ua881the\ua881sum\ua881of\ua881cash\ua881and\ua881cash\ua881equivalents\ua881at\ua881the\ua881end\ua881 \u00a0
of the year (net) and undrawn committed credit facilities. Free cash flow is defined as 'cash flow from operating activities' less 'cash flow \u00a0
from investing activities'. \u00a0
NNIT has a total credit facility of DKK 300 million with Nordea, consisting of DKK 100 million as line of credit and \u00a0
revolving credit facility of DKK 200 million. \u00a0
",
"dimensions": {
"concept": "ifrs-full:DisclosureOfCashFlowStatementExplanatory",
"language": "en",
"entity": "scheme:549300KM8QVF7WR40664",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"fact2109": {
"value": "Provisions \u00a0
Provisions are recognized when NNIT has a legal or \u00a0
constructive obligation arising from past events, it \u00a0
is probable that the Company will have to draw on \u00a0
its financial resources to settle the liability, and the \u00a0
liability can be reliably estimated. \u00a0
Provisions in the case of NNIT consist mainly of \u00a0
refurbishment obligations. \u00a0
Provision for refurbishment obligation \u00a0
This refers to refurbishment obligations regarding \u00a0
NNIT's lease agreements for rental of premises. \u00a0
",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForProvisionsExplanatory",
"language": "en",
"entity": "scheme:549300KM8QVF7WR40664",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"fact2110": {
"value": "Provisions \u00a0
Provisions are recognized when NNIT has a legal or \u00a0
constructive obligation arising from past events, it \u00a0
is probable that the Company will have to draw on \u00a0
its financial resources to settle the liability, and the \u00a0
liability can be reliably estimated. \u00a0
Provisions in the case of NNIT consist mainly of \u00a0
refurbishment obligations. \u00a0
Provision for refurbishment obligation \u00a0
This refers to refurbishment obligations regarding \u00a0
NNIT's lease agreements for rental of premises. \u00a0
3.8 Provisions \u00a0
DKK million \u00a0
2023 \u00a0
2022 \u00a0
Provision for refurbishment obligation* \u00a0
At the beginning of the year \u00a0
30 \u00a0
25 \u00a0
Additions \u00a0
3
5
Disposals \u00a0
(6) \u00a0
At the end of the year \u00a0
27 \u00a0
30 \u00a0
*\ua880\ua881Provision\ua881for\ua881refurbishment\ua881obligation,\ua881included\ua881under\ua881non-current\ua881liabilities,\ua881relates\ua881to\ua881 \u00a0
the\ua881leasehold\ua881agreements\ua881in\ua881the\ua881Group\ua881with\ua881a refurbishment\ua881obligation.\ua881 \u00a0
Other provisions* \u00a0
At the beginning of the year \u00a0
-
-
Additions for the year \u00a0
15 \u00a0
-
At the end of the year \u00a0
15 \u00a0
0
*\ua880Other\ua881provisions\ua881mainly\ua881consist\ua881of\ua881provisions\ua881for\ua881risks\ua881related\ua881to\ua881projects.\ua881 \u00a0
Provision are recognized in the balance sheet as follows: \u00a0
Non-current liabilities \u00a0
27 \u00a0
30 \u00a0
Current liabilities \u00a0
15 \u00a0
0
Total liability \u00a0
42 \u00a0
30 \u00a0
",
"dimensions": {
"concept": "ifrs-full:DisclosureOfProvisionsExplanatory",
"language": "en",
"entity": "scheme:549300KM8QVF7WR40664",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"fact2140": {
"value": "2.2 Employee costs \u00a0
DKK million \u00a0
2023 \u00a0
2022 \u00a0
Employee costs comprise: \u00a0
Wages and salaries \u00a0
1,383 \u00a0
1,882 \u00a0
Share-based payments \u00a0
1
2
Pensions \u2013 defined contribution plans \u00a0
91 \u00a0
128 \u00a0
Pensions \u2013 defined benefit obligations (note 3.7) \u00a0
4
4
Other employee costs \u00a0
132 \u00a0
146 \u00a0
Total employee costs \u00a0
1,611 \u00a0
2,162 \u00a0
Total employee costs, discontinued operations \u00a0
347 \u00a0
794 \u00a0
Total employee costs, continuing operations \u00a0
1,264 \u00a0
1,368 \u00a0
Included in the income statement under the following headings: \u00a0
Cost of goods sold \u00a0
977 \u00a0
951 \u00a0
Sales and marketing costs \u00a0
56 \u00a0
69 \u00a0
Administrative expenses \u00a0
163 \u00a0
149 \u00a0
Special items \u00a0
68 \u00a0
199 \u00a0
Total employee costs \u00a0
1,264 \u00a0
1,368 \u00a0
Average number of full-time employees, total \u00a0
1,974 \u00a0
3,169 \u00a0
Average number of full-time employees, continuing \u00a0
1,773 \u00a0
1,809 \u00a0
Remuneration of Board of Directors and Group Management \u00a0
The current policy for the remuneration of the Board of Directors and Executive Management was adopted in \u00a0
2022 and sets out the general guidelines for the remuneration of the Group\u2019s management. The guidelines for \u00a0
the remuneration of the Board of Directors and Executive Management are available on NNIT\u2019s website. \u00a0
In addition to the disclosures provided in this note, more details on the remuneration of Executive Management \u00a0
and Directors are provided in the separate Remuneration report, which is not a part of the audited financial \u00a0
statements. The report is also available on NNIT\u2019s website. \u00a0
Board of Directors remuneration \u00a0
DKK million \u00a0
2023 \u00a0
2022 \u00a0
Ordinary board member fee \u00a0
3.6 \u00a0
3.5 \u00a0
Audit Committee \u00a0
0.3 \u00a0
0.3 \u00a0
Remuneration Committee \u00a0
0.2 \u00a0
0.2 \u00a0
Total fee to Board of Directors \u00a0
4.1 \u00a0
4.0 \u00a0
",
"dimensions": {
"concept": "ifrs-full:DisclosureOfInformationAboutEmployeesExplanatory",
"language": "en",
"entity": "scheme:549300KM8QVF7WR40664",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"fact2141": {
"value": "2.2 Employee costs \u00a0
DKK million \u00a0
2023 \u00a0
2022 \u00a0
Employee costs comprise: \u00a0
Wages and salaries \u00a0
1,383 \u00a0
1,882 \u00a0
Share-based payments \u00a0
1
2
Pensions \u2013 defined contribution plans \u00a0
91 \u00a0
128 \u00a0
Pensions \u2013 defined benefit obligations (note 3.7) \u00a0
4
4
Other employee costs \u00a0
132 \u00a0
146 \u00a0
Total employee costs \u00a0
1,611 \u00a0
2,162 \u00a0
Total employee costs, discontinued operations \u00a0
347 \u00a0
794 \u00a0
Total employee costs, continuing operations \u00a0
1,264 \u00a0
1,368 \u00a0
Included in the income statement under the following headings: \u00a0
Cost of goods sold \u00a0
977 \u00a0
951 \u00a0
Sales and marketing costs \u00a0
56 \u00a0
69 \u00a0
Administrative expenses \u00a0
163 \u00a0
149 \u00a0
Special items \u00a0
68 \u00a0
199 \u00a0
Total employee costs \u00a0
1,264 \u00a0
1,368 \u00a0
Average number of full-time employees, total \u00a0
1,974 \u00a0
3,169 \u00a0
Average number of full-time employees, continuing \u00a0
1,773 \u00a0
1,809 \u00a0
Remuneration of Board of Directors and Group Management \u00a0
The current policy for the remuneration of the Board of Directors and Executive Management was adopted in \u00a0
2022 and sets out the general guidelines for the remuneration of the Group\u2019s management. The guidelines for \u00a0
the remuneration of the Board of Directors and Executive Management are available on NNIT\u2019s website. \u00a0
In addition to the disclosures provided in this note, more details on the remuneration of Executive Management \u00a0
and Directors are provided in the separate Remuneration report, which is not a part of the audited financial \u00a0
statements. The report is also available on NNIT\u2019s website. \u00a0
Board of Directors remuneration \u00a0
DKK million \u00a0
2023 \u00a0
2022 \u00a0
Ordinary board member fee \u00a0
3.6 \u00a0
3.5 \u00a0
Audit Committee \u00a0
0.3 \u00a0
0.3 \u00a0
Remuneration Committee \u00a0
0.2 \u00a0
0.2 \u00a0
Total fee to Board of Directors \u00a0
4.1 \u00a0
4.0 \u00a0
2.4 Amortization, depreciation and impairment losses \u00a0
DKK million \u00a0
2023 \u00a0
2022 \u00a0
Amortization \u00a0
-
29 \u00a0
Depreciation \u00a0
33 \u00a0
180 \u00a0
Impairment losses \u00a0
-
13 \u00a0
Total amortization, depreciation, and impairment losses \u00a0
33 \u00a0
222 \u00a0
Total amortization, depreciation, and impairment losses, \u00a0
discontinued operations \u00a0
5
154 \u00a0
Total amortization, depreciation, and impairment losses, \u00a0
continuing operations \u00a0
28 \u00a0
68 \u00a0
Amortization, depreciation and impairment losses are \u00a0
recognized in the income statement: \u00a0
Cost of goods sold \u00a0
7
14 \u00a0
Sales and marketing costs \u00a0
1
1
Administrative expenses \u00a0
20 \u00a0
39 \u00a0
Special items \u00a0
-
14 \u00a0
Total amortization, depreciation, and impairment losses \u00a0
28 \u00a0
68 \u00a0
2.5 Special items \u00a0
DKK million \u00a0
2023 \u00a0
2022 \u00a0
Special items relates to: \u00a0
Impairment of assets \u00a0
-
13 \u00a0
Gain from subleases \u00a0
(15) \u00a0
-
Employee benefit cost (contingent consideration agreement) \u00a0
52 \u00a0
56 \u00a0
Restructuring cost \u00a0
31 \u00a0
126 \u00a0
Cost regarding acquisition and disposal of operations \u00a0
103 \u00a0
83 \u00a0
Total special items \u00a0
171 \u00a0
278 \u00a0
Total special items, discontinued operations \u00a0
102 \u00a0
-
Total special items, continuing operations \u00a0
69 \u00a0
278 \u00a0
If special items had been recognized in operating profit \u00a0
before special items, they would have been included in \u00a0
the following line items: \u00a0
\u2013 Cost of goods sold \u00a0
3
206 \u00a0
\u2013 Sales and marketing costs \u00a0
-
-
\u2013 Administrative expenses \u00a0
66 \u00a0
72 \u00a0
Total special items \u00a0
69 \u00a0
278 \u00a0
",
"dimensions": {
"concept": "ifrs-full:DisclosureOfExpensesByNatureExplanatory",
"language": "en",
"entity": "scheme:549300KM8QVF7WR40664",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"fact2148": {
"value": "Remuneration of Board of Directors and Group Management \u00a0
The current policy for the remuneration of the Board of Directors and Executive Management was adopted in \u00a0
2022 and sets out the general guidelines for the remuneration of the Group\u2019s management. The guidelines for \u00a0
the remuneration of the Board of Directors and Executive Management are available on NNIT\u2019s website. \u00a0
In addition to the disclosures provided in this note, more details on the remuneration of Executive Management \u00a0
and Directors are provided in the separate Remuneration report, which is not a part of the audited financial \u00a0
statements. The report is also available on NNIT\u2019s website. \u00a0
Board of Directors remuneration \u00a0
DKK million \u00a0
2023 \u00a0
2022 \u00a0
Ordinary board member fee \u00a0
3.6 \u00a0
3.5 \u00a0
Audit Committee \u00a0
0.3 \u00a0
0.3 \u00a0
Remuneration Committee \u00a0
0.2 \u00a0
0.2 \u00a0
Total fee to Board of Directors \u00a0
4.1 \u00a0
4.0 \u00a0
Group Management's remuneration and share-based payment \u00a0
2023 \u00a0
Other \u00a0
members \u00a0
Executive \u00a0
of Group \u00a0
DKK million \u00a0
Management Management \u00a0
Total \u00a0
Base salary \u00a0
7.4 \u00a0
13.6 \u00a0
21.0 \u00a0
Cash Bonus (STIP and employee benefit cost)1 \u00a0
4.1 \u00a0
7.3 \u00a0
11.4 \u00a0
One off bonus \u00a0
3.4 \u00a0
6.0 \u00a0
9.4 \u00a0
Remuneration in connection with redundancy, \u00a0
resignations and release from duty to work \u00a0
-
11.6 \u00a0
11.6 \u00a0
Pension \u00a0
0.4 \u00a0
1.6 \u00a0
2.0 \u00a0
Benefits \u00a0
0.4 \u00a0
1.3 \u00a0
1.7 \u00a0
Share-based incentives 2 \u00a0
-
0.3 \u00a0
0.3 \u00a0
Group Management total \u00a0
15.7 \u00a0
41.7 \u00a0
57.4 \u00a0
1\ua880\ua881Employee\ua881benefit\ua881cost\ua881(contingent\ua881consideration\ua881agreement)\ua881related\ua881to\ua881the\ua881acquisition\ua881of\ua881Excellis\ua881Health\ua881Solutions.\ua881Following\ua881a\ua881decision\ua881 \u00a0
by the Danish Business Authority concerning accounting treatment of Employee benefit cost (earn-out payment) related to acquisitions, \u00a0
these payments are to be considered and expensed as salary. NNIT has appealed this decision. \u00a0
2\ua880Includes\ua881the\ua881annually\ua881recognized\ua881expense\ua881on\ua881granted\ua881share\ua881based\ua881and\ua881launch\ua881incentive\ua881programmes,\ua881which\ua881are\ua881not\ua881released. \u00a0
2022 \u00a0
Other \u00a0
members \u00a0
Executive \u00a0
of Group \u00a0
DKK million \u00a0
Management Management \u00a0
Total \u00a0
Base salary \u00a0
7.6 \u00a0
6.5 \u00a0
14.1 \u00a0
Cash Bonus (STIP and one-off) \u00a0
1.9 \u00a0
1.1 \u00a0
3.0 \u00a0
One off bonus \u00a0
2.1 \u00a0
0.4 \u00a0
2.5 \u00a0
Remuneration in connection with redundancy, \u00a0
resignations and release from duty to work \u00a0
-
0.6 \u00a0
0.6 \u00a0
Pension \u00a0
0.5 \u00a0
0.8 \u00a0
1.3 \u00a0
Benefits \u00a0
0.4 \u00a0
0.3 \u00a0
0.7 \u00a0
Group Management total \u00a0
12.5 \u00a0
9.7 \u00a0
22.2 \u00a0
Short-term incentive program (STIP) \u00a0
Group Management and certain other employees participate in a STIP program, which entitles each participant \u00a0
to receive an annual performance-based cash bonus, linked to the achievement of a number of predefined \u00a0
functional and individual business targets. Performance is measured for each financial year and the cash-based \u00a0
incentives, if any, are paid after announcement of the annual report for the subsequent year. \u00a0
Long-term incentive program (LTIP) \u00a0
LTIP is designed to promote the collective performance of Group Management and Vice Presidents to align the \u00a0
interests of executives and shareholders. \u00a0
The program is based on earnings, before interest and tax compared to the targeted level. In addition, the real- \u00a0
ized free cash flow compared to the targeted level is taken into consideration. \u00a0
NNIT's Board of Directors approves the financial targets for the coming year, ensuring that the short-term \u00a0
targets are aligned with NNIT's long-term targets and strategy. \u00a0
The allocation under LTIP for the CEO cannot exceed the equivalent of ten months\u2019 fixed base salary including \u00a0
pension contribution, and the allocation for the CFO cannot exceed the equivalent of eight months of such \u00a0
person's fixed base salary including pension contribution. The allocation for the other members of Group \u00a0
Management cannot exceed the equivalent of six months fixed base salary including pension contribution. A \u00a0
fixed and predefined number of shares will be allocated to Vice Presidents. \u00a0
The shares allocated to the members of Group Management that are fully vested, will be released to the indi- \u00a0
vidual participants subsequent to the approval of the Annual Report 2023 by the Board of Directors. \u00a0
Based on the share price at the end of 2023, the value of the released shares is as follows: \u00a0
Number \u00a0
Market \u00a0
DKK million \u00a0
of shares \u00a0
value \u00a0
Values at December 31, 2023 of shares to be released February 19, 2024 \u00a0
P\u00e4r Fors \u00a0
-
-
Carsten Ringius \u00a0
-
-
Executive Management \u00a0
-
-
Other members of Group Management \u00a0
3,130 \u00a0
0.3 \u00a0
Group Management total \u00a0
3,130 \u00a0
0.3 \u00a0
Please refer to note 5.1 for an overview of outstanding RSU\u2019s. \u00a0
5.1 Long-term
incentives \u00a0
Long-term share-based incentive program \u00a0
Group Management and the Vice Presidents are included in a long-term share-based incentive program. \u00a0
For more information regarding the long-term share-based incentive program, please refer to note 2.2 \u00a0
'Employee costs' \u00a0
Share-based payments are recognized at the following amounts: \u00a0
DKK million \u00a0
2023 \u00a0
2022 \u00a0
Long-term incentive program (LTIP) in NNIT shares - share based \u00a0
1
1
Incentive program charged to income statement \u00a0
1
1
Recognized in the income statement: \u00a0
Cost of goods sold \u00a0
1
1
Total \u00a0
1
1
Shares are recognized over the four-year vesting period at the market value at the grant date. Value adjust- \u00a0
ments are recognized as financial items. \u00a0
Outstanding restricted stock units (in NNIT shares): \u00a0
Number '000 \u00a0
2023 \u00a0
2022 \u00a0
Outstanding at the beginning of the year \u00a0
141 \u00a0
190 \u00a0
Long-term incentive program (LTIP)2 \u00a0
125 \u00a0
17 \u00a0
Retention Program (RP) \u00a0
-
3
Transfer to employees \u00a0
(31) \u00a0
(62) \u00a0
Committed to employees \u00a0
(9) \u00a0
-
Forfeiture during the year \u00a0
(17) \u00a0
(7) \u00a0
Outstanding at the end of the year (in NNIT shares) \u00a0
209 \u00a0
141 \u00a0
Fair value of the RSU's end of period (DKK million)1 \u00a0
18 \u00a0
9
1\ua880\ua881The\ua881share\ua881price\ua881as\ua881of\ua881December\ua88131,\ua8812023\ua881has\ua881been\ua881used\ua881when\ua881calculating\ua881the\ua881fair\ua881value\ua881of\ua881the\ua881RSU\u2019s. \u00a0
2\ua880Key\ua881management\ua881has\ua881been\ua881in\ua881total\ua881granted\ua88187,657\ua881shares\ua881with\ua881a\ua881fair\ua881value\ua881of\ua881DKK\ua8817.4\ua881million\ua881as\ua881of\ua881December\ua88131,\ua8812023 \u00a0
5.7 Related
party transactions and ownership \u00a0
Ownership \u00a0
NNIT
A/S
is controlled by
Novo Holdings A/S
, of which the
Novo Nordisk Foundation
is the ultimate owner. \u00a0
The consolidated financial statements of the ultimate parent company, the Novo Nordisk Foundation, may be \u00a0
obtained from the Novo Nordisk Foundation, Tuborg Havnevej 19, DK-2900 Hellerup, Denmark. \u00a0
Related party transactions \u00a0
NNIT has engaged in related party transactions regarding ordinary business with Novo Holdings A/S, the Novo \u00a0
Nordisk Group, the Novozymes Group and Xellia Pharmaceuticals Group. All agreements, of which most are \u00a0
for one year, have been negotiated on arm's length basis. There have been no transactions other than the \u00a0
payment of remuneration with the Group Management of NNIT A/S and the NNIT Board of Directors. For infor- \u00a0
mation on remuneration to the Group Management of NNIT, please refer to note 2.2 'Employee costs'. \u00a0
The figures for related parties are for the continuing business. Comparison figures are not split between \u00a0
continuing and discontinued operations for the balancesheet statement. \u00a0
DKK million \u00a0
2023 \u00a0
2022 \u00a0
Net sales, continuing operations \u00a0
Novo Nordisk Group \u00a0
178 \u00a0
183 \u00a0
Novo Holdings A/S \u00a0
-
-
Novo Nordisk Foundation \u00a0
2
-
Total Novo Nordisk Group \u00a0
180 \u00a0
183 \u00a0
Novozymes Group \u00a0
4
35 \u00a0
Total Novo Group \u00a0
184 \u00a0
218 \u00a0
Trade receivables \u00a0
Novo Nordisk Group \u00a0
63 \u00a0
57 \u00a0
Novozymes Group \u00a0
1
7
Novo Holding A/S \u00a0
-
-
Total \u00a0
64 \u00a0
64 \u00a0
Work in progress \u00a0
Novo Nordisk Group \u00a0
2
2
Total \u00a0
2
2
Liabilities from related parties \u00a0
Novo Nordisk Group \u00a0
1
-
Liabilities from related parties \u00a0
1
-
Prepayments from related parties \u00a0
Novo Nordisk Group \u00a0
17 \u00a0
10 \u00a0
Total \u00a0
17 \u00a0
10 \u00a0
Dividends \u00a0
Novo Holdings A/S \u00a0
-
-
Novo Nordisk A/S \u00a0
-
-
Total \u00a0
-
-
Companies in the NNIT Group: \u00a0
Year of \u00a0
Percentage \u00a0
incorporation/ \u00a0
Share \u00a0
of shares \u00a0
Country \u00a0
acquisition \u00a0
capital \u00a0
owned \u00a0
NNIT (Tianjin Technology Co. Ltd.) \u00a0
China \u00a0
2007 \u00a0
CNY 10,804,229 \u00a0
100 \u00a0
NNIT Switzerland AG \u00a0
Switzerland \u00a0
2010 \u00a0
CHF 100,000 \u00a0
100 \u00a0
NNIT Germany GmbH \u00a0
Germany \u00a0
2011 \u00a0
EUR 25,000 \u00a0
100 \u00a0
NNIT Inc. \u00a0
USA \u00a0
2011 \u00a0
USD 3,250,000 \u00a0
100 \u00a0
NNIT UK Ltd.1 \u00a0
UK \u00a0
2015 \u00a0
GBP 50,000 \u00a0
100 \u00a0
SCALES A/S \u00a0
Denmark \u00a0
2017 \u00a0
DKK 600,000 \u00a0
100 \u00a0
NNIT Ireland Ltd \u00a0
Ireland \u00a0
2018 \u00a0
EUR 100 \u00a0
100 \u00a0
NNIT Poland Sp. Z o.o. \u00a0
Poland \u00a0
2019 \u00a0
PLN 5,000 \u00a0
100 \u00a0
NNIT Singapore Holdings Pte. Ltd. \u00a0
Singapore \u00a0
2019 \u00a0
SGD 546,278 \u00a0
100 \u00a0
NNIT Singapore Pte. Ltd. \u00a0
Singapore \u00a0
2019 \u00a0
SGD 66,700 \u00a0
100 \u00a0
Excellis Health Solutions LLC \u00a0
USA \u00a0
2020 \u00a0
USD 250,000 \u00a0
100 \u00a0
Excellis Europe Ltd.2 \u00a0
UK \u00a0
2020 \u00a0
GBP 100 \u00a0
100 \u00a0
SL Controls Ltd. \u00a0
Ireland \u00a0
2021 \u00a0
EUR 100 \u00a0
100 \u00a0
SL Controls USA Inc. \u00a0
USA \u00a0
2021 \u00a0
USD 60,000 \u00a0
100 \u00a0
NNIT Italy S.r.l \u00a0
Italy \u00a0
2022 \u00a0
EUR 40,000 \u00a0
100 \u00a0
NNIT Espa\u00f1a Consultoria Tecnologica \u00a0
y de la informaction siciedad limitada \u00a0
Spain \u00a0
2022 \u00a0
EUR 50,000 \u00a0
100 \u00a0
NNIT Czech Republic 2022 s.r.o. \u00a0
Czech Republic \u00a0
2023 \u00a0
EUR 20,000 \u00a0
100 \u00a0
NNIT Digital & Life Sciences \u00a0
Philippines Inc. \u00a0
Philippines \u00a0
2023 \u00a0
PHP 11,200,000 \u00a0
100 \u00a0
1\ua880\ua881NNIT\ua881UK\ua881Limited,\ua881registration\ua881number\ua88109399926,\ua881is\ua881exempt\ua881from\ua881the\ua881UK\ua881requirements\ua881relating\ua881to\ua881the\ua881audit\ua881of\ua881financial\ua881statements\ua881under\ua881 \u00a0
section 479A of the Companies Act 2006. \u00a0
2\ua880\ua881Excellis\ua881Europe\ua881Ltd.,\ua881registration\ua881number\ua88109184253,\ua881is\ua881exempt\ua881from\ua881the\ua881UK\ua881requirements\ua881relating\ua881to\ua881the\ua881audit\ua881of\ua881financial\ua881statements\ua881 \u00a0
under section 479A of the Companies Act 2006. \u00a0
",
"dimensions": {
"concept": "ifrs-full:DisclosureOfRelatedPartyExplanatory",
"language": "en",
"entity": "scheme:549300KM8QVF7WR40664",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"fact2149": {
"value": "Remuneration of Board of Directors and Group Management \u00a0
The current policy for the remuneration of the Board of Directors and Executive Management was adopted in \u00a0
2022 and sets out the general guidelines for the remuneration of the Group\u2019s management. The guidelines for \u00a0
the remuneration of the Board of Directors and Executive Management are available on NNIT\u2019s website. \u00a0
In addition to the disclosures provided in this note, more details on the remuneration of Executive Management \u00a0
and Directors are provided in the separate Remuneration report, which is not a part of the audited financial \u00a0
statements. The report is also available on NNIT\u2019s website. \u00a0
Board of Directors remuneration \u00a0
DKK million \u00a0
2023 \u00a0
2022 \u00a0
Ordinary board member fee \u00a0
3.6 \u00a0
3.5 \u00a0
Audit Committee \u00a0
0.3 \u00a0
0.3 \u00a0
Remuneration Committee \u00a0
0.2 \u00a0
0.2 \u00a0
Total fee to Board of Directors \u00a0
4.1 \u00a0
4.0 \u00a0
Group Management's remuneration and share-based payment \u00a0
2023 \u00a0
Other \u00a0
members \u00a0
Executive \u00a0
of Group \u00a0
DKK million \u00a0
Management Management \u00a0
Total \u00a0
Base salary \u00a0
7.4 \u00a0
13.6 \u00a0
21.0 \u00a0
Cash Bonus (STIP and employee benefit cost)1 \u00a0
4.1 \u00a0
7.3 \u00a0
11.4 \u00a0
One off bonus \u00a0
3.4 \u00a0
6.0 \u00a0
9.4 \u00a0
Remuneration in connection with redundancy, \u00a0
resignations and release from duty to work \u00a0
-
11.6 \u00a0
11.6 \u00a0
Pension \u00a0
0.4 \u00a0
1.6 \u00a0
2.0 \u00a0
Benefits \u00a0
0.4 \u00a0
1.3 \u00a0
1.7 \u00a0
Share-based incentives 2 \u00a0
-
0.3 \u00a0
0.3 \u00a0
Group Management total \u00a0
15.7 \u00a0
41.7 \u00a0
57.4 \u00a0
1\ua880\ua881Employee\ua881benefit\ua881cost\ua881(contingent\ua881consideration\ua881agreement)\ua881related\ua881to\ua881the\ua881acquisition\ua881of\ua881Excellis\ua881Health\ua881Solutions.\ua881Following\ua881a\ua881decision\ua881 \u00a0
by the Danish Business Authority concerning accounting treatment of Employee benefit cost (earn-out payment) related to acquisitions, \u00a0
these payments are to be considered and expensed as salary. NNIT has appealed this decision. \u00a0
2\ua880Includes\ua881the\ua881annually\ua881recognized\ua881expense\ua881on\ua881granted\ua881share\ua881based\ua881and\ua881launch\ua881incentive\ua881programmes,\ua881which\ua881are\ua881not\ua881released. \u00a0
2022 \u00a0
Other \u00a0
members \u00a0
Executive \u00a0
of Group \u00a0
DKK million \u00a0
Management Management \u00a0
Total \u00a0
Base salary \u00a0
7.6 \u00a0
6.5 \u00a0
14.1 \u00a0
Cash Bonus (STIP and one-off) \u00a0
1.9 \u00a0
1.1 \u00a0
3.0 \u00a0
One off bonus \u00a0
2.1 \u00a0
0.4 \u00a0
2.5 \u00a0
Remuneration in connection with redundancy, \u00a0
resignations and release from duty to work \u00a0
-
0.6 \u00a0
0.6 \u00a0
Pension \u00a0
0.5 \u00a0
0.8 \u00a0
1.3 \u00a0
Benefits \u00a0
0.4 \u00a0
0.3 \u00a0
0.7 \u00a0
Group Management total \u00a0
12.5 \u00a0
9.7 \u00a0
22.2 \u00a0
Short-term incentive program (STIP) \u00a0
Group Management and certain other employees participate in a STIP program, which entitles each participant \u00a0
to receive an annual performance-based cash bonus, linked to the achievement of a number of predefined \u00a0
functional and individual business targets. Performance is measured for each financial year and the cash-based \u00a0
incentives, if any, are paid after announcement of the annual report for the subsequent year. \u00a0
Long-term incentive program (LTIP) \u00a0
LTIP is designed to promote the collective performance of Group Management and Vice Presidents to align the \u00a0
interests of executives and shareholders. \u00a0
The program is based on earnings, before interest and tax compared to the targeted level. In addition, the real- \u00a0
ized free cash flow compared to the targeted level is taken into consideration. \u00a0
NNIT's Board of Directors approves the financial targets for the coming year, ensuring that the short-term \u00a0
targets are aligned with NNIT's long-term targets and strategy. \u00a0
The allocation under LTIP for the CEO cannot exceed the equivalent of ten months\u2019 fixed base salary including \u00a0
pension contribution, and the allocation for the CFO cannot exceed the equivalent of eight months of such \u00a0
person's fixed base salary including pension contribution. The allocation for the other members of Group \u00a0
Management cannot exceed the equivalent of six months fixed base salary including pension contribution. A \u00a0
fixed and predefined number of shares will be allocated to Vice Presidents. \u00a0
The shares allocated to the members of Group Management that are fully vested, will be released to the indi- \u00a0
vidual participants subsequent to the approval of the Annual Report 2023 by the Board of Directors. \u00a0
Based on the share price at the end of 2023, the value of the released shares is as follows: \u00a0
Number \u00a0
Market \u00a0
DKK million \u00a0
of shares \u00a0
value \u00a0
Values at December 31, 2023 of shares to be released February 19, 2024 \u00a0
P\u00e4r Fors \u00a0
-
-
Carsten Ringius \u00a0
-
-
Executive Management \u00a0
-
-
Other members of Group Management \u00a0
3,130 \u00a0
0.3 \u00a0
Group Management total \u00a0
3,130 \u00a0
0.3 \u00a0
Please refer to note 5.1 for an overview of outstanding RSU\u2019s. \u00a0
5.1 Long-term
incentives \u00a0
Long-term share-based incentive program \u00a0
Group Management and the Vice Presidents are included in a long-term share-based incentive program. \u00a0
For more information regarding the long-term share-based incentive program, please refer to note 2.2 \u00a0
'Employee costs' \u00a0
Share-based payments are recognized at the following amounts: \u00a0
DKK million \u00a0
2023 \u00a0
2022 \u00a0
Long-term incentive program (LTIP) in NNIT shares - share based \u00a0
1
1
Incentive program charged to income statement \u00a0
1
1
Recognized in the income statement: \u00a0
Cost of goods sold \u00a0
1
1
Total \u00a0
1
1
Shares are recognized over the four-year vesting period at the market value at the grant date. Value adjust- \u00a0
ments are recognized as financial items. \u00a0
Outstanding restricted stock units (in NNIT shares): \u00a0
Number '000 \u00a0
2023 \u00a0
2022 \u00a0
Outstanding at the beginning of the year \u00a0
141 \u00a0
190 \u00a0
Long-term incentive program (LTIP)2 \u00a0
125 \u00a0
17 \u00a0
Retention Program (RP) \u00a0
-
3
Transfer to employees \u00a0
(31) \u00a0
(62) \u00a0
Committed to employees \u00a0
(9) \u00a0
-
Forfeiture during the year \u00a0
(17) \u00a0
(7) \u00a0
Outstanding at the end of the year (in NNIT shares) \u00a0
209 \u00a0
141 \u00a0
Fair value of the RSU's end of period (DKK million)1 \u00a0
18 \u00a0
9
1\ua880\ua881The\ua881share\ua881price\ua881as\ua881of\ua881December\ua88131,\ua8812023\ua881has\ua881been\ua881used\ua881when\ua881calculating\ua881the\ua881fair\ua881value\ua881of\ua881the\ua881RSU\u2019s. \u00a0
2\ua880Key\ua881management\ua881has\ua881been\ua881in\ua881total\ua881granted\ua88187,657\ua881shares\ua881with\ua881a\ua881fair\ua881value\ua881of\ua881DKK\ua8817.4\ua881million\ua881as\ua881of\ua881December\ua88131,\ua8812023 \u00a0
",
"dimensions": {
"concept": "ifrs-full:DisclosureOfInformationAboutKeyManagementPersonnelExplanatory",
"language": "en",
"entity": "scheme:549300KM8QVF7WR40664",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"fact2177": {
"value": "2.3 Development costs \u00a0
DKK million \u00a0
2023 \u00a0
2022 \u00a0
Costs for development of new projects, not eligible for \u00a0
recognition in the balance sheet are charged immediately \u00a0
to the income statement: \u00a0
Cost of goods sold \u00a0
14 \u00a0
8
Total development costs \u00a0
14 \u00a0
8
",
"dimensions": {
"concept": "ifrs-full:DisclosureOfResearchAndDevelopmentExpenseExplanatory",
"language": "en",
"entity": "scheme:549300KM8QVF7WR40664",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"fact2192": {
"value": "DKK million \u00a0
2023 \u00a0
2022 \u00a0
Tax (payable)/receivable \u00a0
Tax (payable)/receivable at the beginning of the year \u00a0
72 \u00a0
45 \u00a0
Disposals related to divestment of infrastructure business \u00a0
2
1
Income tax paid/(received) during the year \u00a0
11 \u00a0
18 \u00a0
Tax paid/(received) related to previous years \u00a0
(45) \u00a0
(21) \u00a0
Withholding taxes paid/(received) during the year \u00a0
(2) \u00a0
(1) \u00a0
Current tax on profit for the year \u00a0
(67) \u00a0
40 \u00a0
Adjustments related to previous years \u00a0
(25) \u00a0
(10) \u00a0
Exchange rate adjustment \u00a0
(1) \u00a0
-
Tax (payable)/receivable at the end of the year \u00a0
(55) \u00a0
72 \u00a0
Tax (payable)/receivables, discontinued operations \u00a0
-
(15) \u00a0
Tax (payable)/receivables, continuing operations \u00a0
(55) \u00a0
87 \u00a0
Tax payable/receivables are recognized in the balance sheet \u00a0
as follows: \u00a0
Tax receivables \u00a0
10 \u00a0
113 \u00a0
Tax payable \u00a0
(70) \u00a0
(33) \u00a0
Tax on other comprehensive income \u00a0
5
7
Total tax \u00a0
(55) \u00a0
87 \u00a0
",
"dimensions": {
"concept": "ifrs-full:DisclosureOfTaxReceivablesAndPayablesExplanatory",
"language": "en",
"entity": "scheme:549300KM8QVF7WR40664",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"fact2227": {
"value": "3.5 Deposits \u00a0
DKK million \u00a0
2023 \u00a0
2022 \u00a0
Cost at the beginning of the year \u00a0
27 \u00a0
34 \u00a0
Additions \u00a0
5
-
Disposal \u00a0
(1) \u00a0
-
Transferred to assets classified as held for sale \u00a0
-
(7) \u00a0
Carrying amount at the end of the year \u00a0
31 \u00a0
27 \u00a0
4.4 Financial assets and liabilities, continuing operations \u00a0
Depending on the purpose of each asset and liability, NNIT classifies these into the following categories: \u00a0
\u2022
Cash and cash equivalents \u00a0
\u2022
Financial assets at amortized cost \u00a0
\u2022
Financial liabilities measured at amortized cost \u00a0
Cash and cash \u00a0
Financial assets at \u00a0
DKK million \u00a0
equivalents \u00a0
amortized cost \u00a0
Total \u00a0
2023 \u00a0
Financial assets by category \u00a0
Deposits \u00a0
-
31 \u00a0
31 \u00a0
Trade receivables \u00a0
-
476 \u00a0
476 \u00a0
Work in progress \u00a0
-
67 \u00a0
67 \u00a0
Other receivables \u00a0
-
258 \u00a0
258 \u00a0
Prepayments \u00a0
-
27 \u00a0
27 \u00a0
Cash and cash equivalents \u00a0
254 \u00a0
-
254 \u00a0
Total financial assets at the end of the year \u00a0
254 \u00a0
859 \u00a0
1,113 \u00a0
Cash and cash \u00a0
Financial assets at \u00a0
DKK million \u00a0
equivalents \u00a0
amortized cost \u00a0
Total \u00a0
2022 \u00a0
Financial assets by category \u00a0
Deposits \u00a0
-
27 \u00a0
27 \u00a0
Trade receivables \u00a0
-
384 \u00a0
384 \u00a0
Work in progress \u00a0
-
54 \u00a0
54 \u00a0
Other receivables \u00a0
-
35 \u00a0
35 \u00a0
Prepayments \u00a0
-
32 \u00a0
32 \u00a0
Cash and cash equivalents \u00a0
208 \u00a0
-
208 \u00a0
Total financial assets at the end of the year \u00a0
208 \u00a0
532 \u00a0
740 \u00a0
Financial \u00a0
liabilities \u00a0
Financial liabilities \u00a0
measured at \u00a0
measured at \u00a0
undiscounted \u00a0
DKK million \u00a0
amortized cost \u00a0
paymentsl \u00a0
2023 \u00a0
Financial liabilities by category \u00a0
Lease liabilities \u00a0
64 \u00a0
68 \u00a0
Credit Facilities \u00a0
267 \u00a0
267 \u00a0
Trade payables \u00a0
110 \u00a0
110 \u00a0
Other non-curret and current liabilities \u00a0
251 \u00a0
251 \u00a0
Total financial liabilities at the end of the year \u00a0
692 \u00a0
696 \u00a0
Financial \u00a0
liabilities \u00a0
Financial liabilities \u00a0
measured at \u00a0
measured at \u00a0
undiscounted \u00a0
DKK million \u00a0
amortized cost \u00a0
paymentsl \u00a0
2022 \u00a0
Financial liabilities by category \u00a0
Lease liability \u00a0
156 \u00a0
163 \u00a0
Credit Facilities \u00a0
857 \u00a0
857 \u00a0
Trade payables \u00a0
151 \u00a0
151 \u00a0
Other non-curret and current liabilities \u00a0
251 \u00a0
251 \u00a0
Total financial liabilities at the end of the year \u00a0
1,415 \u00a0
1,422 \u00a0
Credit \u00a0
Lease \u00a0
DKK million \u00a0
Facilities \u00a0
liability \u00a0
Total \u00a0
2023 \u00a0
Financial liabilities included in finance activities \u00a0
Financing liabilities included in finance activities \u00a0
at the beginning of the year \u00a0
857 \u00a0
156 \u00a0
1,013 \u00a0
Cash flows: \u00a0
Instalments \u00a0
-
(66) \u00a0
(66) \u00a0
Ingoing/outgoing payments during the year \u00a0
(590) \u00a0
-
(590) \u00a0
Non-cash flows: \u00a0
Addition \u00a0
-
15 \u00a0
15 \u00a0
Disposals \u00a0
-
(40) \u00a0
(40) \u00a0
Exchange rate adjustment \u00a0
-
(1) \u00a0
(1) \u00a0
Total financial liabilities included in finance activities \u00a0
at the end of the year \u00a0
267 \u00a0
64 \u00a0
331 \u00a0
Credit \u00a0
Lease \u00a0
DKK million \u00a0
Facilities \u00a0
liability \u00a0
Total \u00a0
2022 \u00a0
Financial liabilities included in finance activities \u00a0
Financing liabilities included in finance activities \u00a0
at the beginning of the year \u00a0
496 \u00a0
207 \u00a0
703 \u00a0
Cash flows: \u00a0
Instalments \u00a0
-
(83) \u00a0
(83) \u00a0
Ingoing/outgoing payments during the year \u00a0
361 \u00a0
-
361 \u00a0
Non-cash flows: \u00a0
Addition \u00a0
-
36 \u00a0
36 \u00a0
Disposals \u00a0
-
(4) \u00a0
(4) \u00a0
Exchange rate adjustment \u00a0
-
-
-
Total financial liabilities included in finance activities \u00a0
at the end of the year \u00a0
857 \u00a0
156 \u00a0
1,013 \u00a0
Fair value measurement hierarchy \u00a0
Financial assets and liabilities at fair value through comprehensive income are categorized in the fair value hier- \u00a0
archy as level 2 (directly or indirectly observable market data). The fair value is measured according to generally \u00a0
accepted valuation techniques. Market-based parameters are used to measure the fair value. The remaining \u00a0
categories of financial assets and liabilities are measured at amortized cost. \u00a0
",
"dimensions": {
"concept": "ifrs-full:DisclosureOfFinancialInstrumentsExplanatory",
"language": "en",
"entity": "scheme:549300KM8QVF7WR40664",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"fact2230": {
"value": "3.6 Trade
receivables \u00a0
DKK million \u00a0
2023 \u00a0
2022 \u00a0
Total trade receivables (gross) \u00a0
482 \u00a0
618 \u00a0
Allowances for bad debt in the year \u00a0
6
-
Total trade receivables (net) \u00a0
476 \u00a0
618 \u00a0
Total trade receivables (net), discontinued operations \u00a0
-
234 \u00a0
Total trade receivables (net), continuing operations \u00a0
476 \u00a0
384 \u00a0
Trade receivables is recognized in the balance sheet as follows: \u00a0
Trade receivables, non-current \u00a0
25 \u00a0
1
Trade receivables, current \u00a0
451 \u00a0
383 \u00a0
Total trade receivables \u00a0
476 \u00a0
384 \u00a0
NNIT applies the IFRS 9 simplified approach to measure expected credit losses, which uses a lifetime expected \u00a0
loss allowance for all trade receivables. NNIT has assessed historical realized losses adjusted by a forward-looking \u00a0
estimate related to the probability of a significant change in the economic environment. Historically NNIT has not \u00a0
realized any losses on trade receivables due to the economic environment. Losses have been due to claim settle- \u00a0
ment with customers. \u00a0
Further NNIT continuously conduct individual assessments of bad debts. If this leads to an assessment that NNIT \u00a0
will not be able to collect all outstanding payments, an allowance for bad debt is made. NNIT A/S has based on an \u00a0
individual assessment recognised expected credit loss of DKK 6 million as of 31 December 2023 (2022: DKK 0.3 \u00a0
million). \u00a0
DKK million \u00a0
2023 \u00a0
2022 \u00a0
Aging of non-impaired trade receivables: \u00a0
Non-invoiced trade receivables \u00a0
60 \u00a0
208 \u00a0
Not due at balance sheet date \u00a0
281 \u00a0
300 \u00a0
Overdue between 1 and 30 days \u00a0
81 \u00a0
59 \u00a0
Overdue between 31 and 60 days \u00a0
34 \u00a0
23 \u00a0
Overdue by more than 60 days \u00a0
20 \u00a0
28 \u00a0
Total trade receivables \u00a0
476 \u00a0
618 \u00a0
Total trade receivables, discontinued operations \u00a0
-
234 \u00a0
Total trade receivables, continuing operations \u00a0
476 \u00a0
384 \u00a0
Part of the non-invoiced trade receivables are regarding long-term projects, where the amount will be invoiced \u00a0
to the customer over the operation period which is more than one year. The long-term project amount to DKK \u00a0
49 million as of 31 December 2023 (2022: DKK 23 million), of these 24 million will be invoiced in 2024. \u00a0
Credit risk \u00a0
NNIT\u2019s credit risk principally arises from trade receivables, which amounted to DKK 474 million as of December \u00a0
31, 2023 (December 31, 2022: DKK 618 million). The maximum credit risk corresponds to the carrying amount. \u00a0
For many years, NNIT has not realised any significant losses on receivables. The classification of trade receiva- \u00a0
bles according to maturity date is set out in the note 3.6. \u00a0
",
"dimensions": {
"concept": "ifrs-full:DisclosureOfCreditRiskExplanatory",
"language": "en",
"entity": "scheme:549300KM8QVF7WR40664",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"fact2248": {
"value": "3.9 Discontinued
operations \u00a0
June 22, 2022 it was announced that NNIT was divesting the infrastructure operations and in December 2022 it \u00a0
qualified for recognition as Discontinuing operations according to IFRS 5. \u00a0
DKK million \u00a0
2023 \u00a0
2022 \u00a0
Revenue \u00a0
504 \u00a0
1,451 \u00a0
Cost of goods sold \u00a0
405 \u00a0
1,244 \u00a0
Gross profit \u00a0
99 \u00a0
207 \u00a0
Sales and marketing costs \u00a0
15 \u00a0
71 \u00a0
Administrative expenses \u00a0
54 \u00a0
68 \u00a0
Operating profit before special items \u00a0
30 \u00a0
68 \u00a0
Gain from discontinuing operations \u00a0
76 \u00a0
-
Special items \u00a0
102 \u00a0
-
Operating profit/(loss) \u00a0
4
68 \u00a0
Financial income \u00a0
-
2
Financial expenses \u00a0
2
-
Profit/(loss) before income taxes \u00a0
2
70 \u00a0
Income taxes \u00a0
(22) \u00a0
14 \u00a0
Profit for the year of discontinued operations \u00a0
24 \u00a0
56 \u00a0
Earnings per share \u00a0
Earnings per share (DKK) \u00a0
0.96 \u00a0
2.25 \u00a0
Diluted earnings per share (DKK) \u00a0
0.96 \u00a0
2.24 \u00a0
Cash Flows from discontinued operations \u00a0
Cash flow from operating activities \u00a0
(97) \u00a0
106 \u00a0
Cash flow from investing activities \u00a0
904 \u00a0
(117) \u00a0
Cash flow from financing activities \u00a0
-
-
Cash flow from discontinued operations \u00a0
807 \u00a0
(11) \u00a0
Assets held for sale \u00a0
DKK million \u00a0
2023 \u00a0
2022 \u00a0
Intangible assets \u00a0
-
86 \u00a0
Tangible assets \u00a0
-
475 \u00a0
Deferred taxes \u00a0
-
12 \u00a0
Deposits \u00a0
-
7
Transition cost \u00a0
-
80 \u00a0
Trade receivables \u00a0
-
234 \u00a0
Work in progress \u00a0
-
82 \u00a0
Prepayments \u00a0
-
68 \u00a0
Assets classified as held for sale \u00a0
-
1,044 \u00a0
Employee benefit obligations \u00a0
-
1
Prepayments received, transition cost \u00a0
-
46 \u00a0
Prepayments received, work in progress \u00a0
-
30 \u00a0
Employee costs payables \u00a0
-
85 \u00a0
Tax payables \u00a0
-
15 \u00a0
Other current liabilities \u00a0
-
15 \u00a0
Liabilities directly associated with assets classified as held for sale \u00a0
-
192 \u00a0
Net assets classified as held for sale \u00a0
-
852 \u00a0
Assets and liabilities directly associated with assets classified as held for sale in 2022 solely relates to the \u00a0
discontinued operations in relation to Hybrid Cloud Solutions and selected parts of Cloud & Digital Solutions. \u00a0
Divestment of infrastructure business \u00a0
DKK million \u00a0
2023 \u00a0
Consideration received/receivable: \u00a0
Cash \u00a0
1,001 \u00a0
Fair value of contingent consideration \u00a0
200 \u00a0
Net working capital/Net interest bearing debt adj. and other adjustments \u00a0
(209) \u00a0
Sales price for discontinued operations incl. adjustments \u00a0
992 \u00a0
Transaction costs \u00a0
51 \u00a0
Sales price for discontinued operations, after transaction costs \u00a0
941 \u00a0
Carrying amount of net assets sold \u00a0
821 \u00a0
Gain on sale of discontinued operations before tax \u00a0
120 \u00a0
Tax on divestment \u00a0
44 \u00a0
Gain on sale of discontinued operations after tax \u00a0
76 \u00a0
Assets and liabilities in the business sold comprise of: \u00a0
Intangible assets \u00a0
102 \u00a0
Tangible assets \u00a0
501 \u00a0
Lease assets \u00a0
38 \u00a0
Deferred taxes \u00a0
1
Deposits \u00a0
7
Transition cost \u00a0
80 \u00a0
Trade receivables \u00a0
96 \u00a0
Work in progress \u00a0
28 \u00a0
Other receivables \u00a0
7
Prepayments \u00a0
114 \u00a0
Cash \u00a0
21 \u00a0
Total assets \u00a0
995 \u00a0
DKK million \u00a0
2023 \u00a0
Employee benefit obligations \u00a0
1
Lease liabilities \u00a0
34 \u00a0
Prepayments received, transition cost \u00a0
40 \u00a0
Prepayments received, work in progress \u00a0
16 \u00a0
Employee costs payables \u00a0
62 \u00a0
Tax payables \u00a0
2
Other current liabilities \u00a0
14 \u00a0
Provisions \u00a0
5
Total liabilities \u00a0
174 \u00a0
Net assets \u00a0
821 \u00a0
On 28 April, NNIT completed the transformative divestment of the Group\u2019s infrastructure operations to funds \u00a0
advised by Agilitas Private Equity LLP as initially described in company announcement no. 9/2022 on June 22, \u00a0
2022. \u00a0
Financial information relating to the discontinued operation is set out in the table. \u00a0
",
"dimensions": {
"concept": "ifrs-full:DisclosureOfNoncurrentAssetsOrDisposalGroupsClassifiedAsHeldForSaleExplanatory",
"language": "en",
"entity": "scheme:549300KM8QVF7WR40664",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"fact2267": {
"value": "4.2 Share capital, distribution to shareholder and earnings per share \u00a0
DKK million \u00a0
2023 \u00a0
2022 \u00a0
Profit/(loss) from continuing operations \u00a0
6
(258) \u00a0
Profit/(loss) from discontinued operations \u00a0
24 \u00a0
56 \u00a0
Net profit/(loss) for the year \u00a0
30 \u00a0
(202) \u00a0
Number '000 \u00a0
Average number of shares outstanding \u00a0
24.869 \u00a0
24,838 \u00a0
Dilutive effect of share-based payments \u00a0
112 \u00a0
120 \u00a0
Average number of shares outstanding, \u00a0
including dilutive effect of share-based payments \u00a0
24.981 \u00a0
24,958 \u00a0
Earnings per share from continuing operations \u00a0
Earnings per share (DKK) \u00a0
0.24 \u00a0
(10.39) \u00a0
Diluted earnings per share (DKK) \u00a0
0.24 \u00a0
(10.39) \u00a0
Earnings per share from discontinued operations \u00a0
Earnings per share (DKK) \u00a0
0.96 \u00a0
2.25 \u00a0
Diluted earnings per share (DKK) \u00a0
0.96 \u00a0
2.24 \u00a0
Earnings per share \u00a0
Earnings per share (DKK) \u00a0
1.20 \u00a0
(8.13) \u00a0
Diluted earnings per share (DKK) \u00a0
1.20 \u00a0
(8.13) \u00a0
Earnings per share and diluted earnings per share are calculated in accordance with IAS 33. Basic earnings \u00a0
per share are calculated by dividing the profit attributable to equity holders of the Company by the weighted \u00a0
average number of ordinary shares in issue during the year, excluding ordinary shares purchased by the \u00a0
Company and held as treasury shares. Diluted earnings per share is calculated by adjusting the weighted \u00a0
average number of ordinary shares outstanding to assume conversion of all dilutive potential ordinary shares. \u00a0
RSUs are only included when performance requirements have been met. \u00a0
The share capital has a nominal value of DKK 250 million divided into 25 million shares with a nominal value of \u00a0
DKK 10 each. No shares carry special rights. \u00a0
Number \u00a0
Nominal Market
value \u00a0
As % of \u00a0
of shares \u00a0
DKK \u00a0
value \u00a0
(million) share
capital \u00a0
(thousand) \u00a0
2023 \u00a0
Treasury shares \u00a0
Holding at the beginning of the year \u00a0
1
11 \u00a0
0.6% \u00a0
162 \u00a0
Disposal \u00a0
-
(3) \u00a0
(0.1%) \u00a0
(31) \u00a0
Value adjustments \u00a0
-
3
0.0% \u00a0
-
Holding at the end of the year \u00a0
1
11 \u00a0
0.5% \u00a0
131 \u00a0
Treasury shares held relates to the long-term incentive program. Retained earnings are accumulated earnings. \u00a0
Exchange rate adjustments are the difference between average exchange rates in the year and exchange rates \u00a0
at the balance sheet date when consolidating subsidiaries. \u00a0
Proposed dividends are the dividends proposed by the Board of Directors for the financial year. \u00a0
DKK million \u00a0
2023 \u00a0
2022 \u00a0
Net cash distribution to shareholders \u00a0
-
-
Ordinary dividends Interim dividends \u00a0
-
-
Total \u00a0
-
-
No interim dividend was declared in 2023 and no dividend will be declared at the end of 2023. \u00a0
",
"dimensions": {
"concept": "ifrs-full:DisclosureOfShareCapitalReservesAndOtherEquityInterestExplanatory",
"language": "en",
"entity": "scheme:549300KM8QVF7WR40664",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"fact2268": {
"value": "4.2 Share capital, distribution to shareholder and earnings per share \u00a0
DKK million \u00a0
2023 \u00a0
2022 \u00a0
Profit/(loss) from continuing operations \u00a0
6
(258) \u00a0
Profit/(loss) from discontinued operations \u00a0
24 \u00a0
56 \u00a0
Net profit/(loss) for the year \u00a0
30 \u00a0
(202) \u00a0
Number '000 \u00a0
Average number of shares outstanding \u00a0
24.869 \u00a0
24,838 \u00a0
Dilutive effect of share-based payments \u00a0
112 \u00a0
120 \u00a0
Average number of shares outstanding, \u00a0
including dilutive effect of share-based payments \u00a0
24.981 \u00a0
24,958 \u00a0
Earnings per share from continuing operations \u00a0
Earnings per share (DKK) \u00a0
0.24 \u00a0
(10.39) \u00a0
Diluted earnings per share (DKK) \u00a0
0.24 \u00a0
(10.39) \u00a0
Earnings per share from discontinued operations \u00a0
Earnings per share (DKK) \u00a0
0.96 \u00a0
2.25 \u00a0
Diluted earnings per share (DKK) \u00a0
0.96 \u00a0
2.24 \u00a0
Earnings per share \u00a0
Earnings per share (DKK) \u00a0
1.20 \u00a0
(8.13) \u00a0
Diluted earnings per share (DKK) \u00a0
1.20 \u00a0
(8.13) \u00a0
Earnings per share and diluted earnings per share are calculated in accordance with IAS 33. Basic earnings \u00a0
per share are calculated by dividing the profit attributable to equity holders of the Company by the weighted \u00a0
average number of ordinary shares in issue during the year, excluding ordinary shares purchased by the \u00a0
Company and held as treasury shares. Diluted earnings per share is calculated by adjusting the weighted \u00a0
average number of ordinary shares outstanding to assume conversion of all dilutive potential ordinary shares. \u00a0
RSUs are only included when performance requirements have been met. \u00a0
The share capital has a nominal value of DKK 250 million divided into 25 million shares with a nominal value of \u00a0
DKK 10 each. No shares carry special rights. \u00a0
",
"dimensions": {
"concept": "ifrs-full:DisclosureOfEarningsPerShareExplanatory",
"language": "en",
"entity": "scheme:549300KM8QVF7WR40664",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"fact2269": {
"value": "4.2 Share capital, distribution to shareholder and earnings per share \u00a0
DKK million \u00a0
2023 \u00a0
2022 \u00a0
Profit/(loss) from continuing operations \u00a0
6
(258) \u00a0
Profit/(loss) from discontinued operations \u00a0
24 \u00a0
56 \u00a0
Net profit/(loss) for the year \u00a0
30 \u00a0
(202) \u00a0
Number '000 \u00a0
Average number of shares outstanding \u00a0
24.869 \u00a0
24,838 \u00a0
Dilutive effect of share-based payments \u00a0
112 \u00a0
120 \u00a0
Average number of shares outstanding, \u00a0
including dilutive effect of share-based payments \u00a0
24.981 \u00a0
24,958 \u00a0
Earnings per share from continuing operations \u00a0
Earnings per share (DKK) \u00a0
0.24 \u00a0
(10.39) \u00a0
Diluted earnings per share (DKK) \u00a0
0.24 \u00a0
(10.39) \u00a0
Earnings per share from discontinued operations \u00a0
Earnings per share (DKK) \u00a0
0.96 \u00a0
2.25 \u00a0
Diluted earnings per share (DKK) \u00a0
0.96 \u00a0
2.24 \u00a0
Earnings per share \u00a0
Earnings per share (DKK) \u00a0
1.20 \u00a0
(8.13) \u00a0
Diluted earnings per share (DKK) \u00a0
1.20 \u00a0
(8.13) \u00a0
Earnings per share and diluted earnings per share are calculated in accordance with IAS 33. Basic earnings \u00a0
per share are calculated by dividing the profit attributable to equity holders of the Company by the weighted \u00a0
average number of ordinary shares in issue during the year, excluding ordinary shares purchased by the \u00a0
Company and held as treasury shares. Diluted earnings per share is calculated by adjusting the weighted \u00a0
average number of ordinary shares outstanding to assume conversion of all dilutive potential ordinary shares. \u00a0
RSUs are only included when performance requirements have been met. \u00a0
The share capital has a nominal value of DKK 250 million divided into 25 million shares with a nominal value of \u00a0
DKK 10 each. No shares carry special rights. \u00a0
",
"dimensions": {
"concept": "ifrs-full:DisclosureOfIssuedCapitalExplanatory",
"language": "en",
"entity": "scheme:549300KM8QVF7WR40664",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"fact2293": {
"value": "Fair value measurement hierarchy \u00a0
Financial assets and liabilities at fair value through comprehensive income are categorized in the fair value hier- \u00a0
archy as level 2 (directly or indirectly observable market data). The fair value is measured according to generally \u00a0
accepted valuation techniques. Market-based parameters are used to measure the fair value. The remaining \u00a0
categories of financial assets and liabilities are measured at amortized cost. \u00a0
",
"dimensions": {
"concept": "ifrs-full:DisclosureOfFairValueMeasurementExplanatory",
"language": "en",
"entity": "scheme:549300KM8QVF7WR40664",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"fact2294": {
"value": "Fair value measurement hierarchy \u00a0
Financial assets and liabilities at fair value through comprehensive income are categorized in the fair value hier- \u00a0
archy as level 2 (directly or indirectly observable market data). The fair value is measured according to generally \u00a0
accepted valuation techniques. Market-based parameters are used to measure the fair value. The remaining \u00a0
categories of financial assets and liabilities are measured at amortized cost. \u00a0
",
"dimensions": {
"concept": "ifrs-full:DisclosureOfFairValueOfFinancialInstrumentsExplanatory",
"language": "en",
"entity": "scheme:549300KM8QVF7WR40664",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"fact2295": {
"value": "Financial risks \u00a0
NNIT\u2019s objective at all times is to limit the Company\u2019s financial risks. \u00a0
Financing and sufficient liquidity are fundamental to NNIT\u00b4s continuing operations and future growth. Liquidity \u00a0
is managed centrally from the Parent Company. \u00a0
To cover the Group\u2019s liquidity needs, an agreement on credit facilities for a total of DKK 300 million has been \u00a0
entered (DKK 1,050 million in 2022 as interim facility in connection with carve-out costs). The Group's credit \u00a0
facilities are subject to standard financial covenants. \u00a0
The liquidity risk is countered by consistent focus on budgeted and realized cash flow. \u00a0
NNIT is exposed to exchange rate risks in the countries where NNIT has its main activities. The majority part \u00a0
of NNIT\u2019s sales is in DKK and EUR, implying limited foreign exchange risk, due to the Parent Company\u2019s func- \u00a0
tional currency being DKK and Denmark\u2019s fixed-rate policy towards EUR. NNIT\u2019s foreign exchange risk therefore \u00a0
primarily stems from transactions carried out in the currencies of other countries in which NNIT mainly oper- \u00a0
ates: Primarily the Philippines peso, US Dollar, Czech Koruna and to a lesser extent Chinese yuan and the Swiss \u00a0
franc. \u00a0
Most of the foreign exchange risk in the Chinese yuan and US dollar and all of the foreign exchange risk in the \u00a0
Czech koruna and the Philippines are due to intercompany transactions. \u00a0
Foreign exchange sensitivity analysis \u00a0
NNIT estimates that all other variables being constant, a 10% depreciation of the average 2023 exchange rate of \u00a0
the Danish kroner against the following currencies would have had the indicated impact (in Danish kroner) on \u00a0
our operating profit (EBIT) for 2023. The following sensitivity analysis addresses hypothetical situations and is \u00a0
provided for illustrative purposes only: \u00a0
DKK million \u00a0
2023 \u00a0
2022 \u00a0
EUR \u00a0
10 \u00a0
25 \u00a0
CNY \u00a0
(2) \u00a0
(18) \u00a0
CZK \u00a0
(6) \u00a0
(12) \u00a0
USD \u00a0
12 \u00a0
18 \u00a0
CHF \u00a0
-
-
PHP \u00a0
(9) \u00a0
(11) \u00a0
A corresponding appreciation of the Danish kroner against the above currencies would have had the opposite \u00a0
impact. \u00a0
Currency sensitivities1 \u00a0
Estimated annual impact on NNIT\u00b4s operating profit of a 10% increase in the outlined currencies against DKK \u00a0
DKK million \u00a0
2024 \u00a0
EUR \u00a0
2
CNY \u00a0
3
CZK \u00a0
(3) \u00a0
PHP \u00a0
(7) \u00a0
CHF \u00a0
1
USD \u00a0
15 \u00a0
1\ua880\ua881The above sensitivities addresses hypothetical situations and are provided for illustrative purpose only. The sensitivities assume our \u00a0
business develops consistently with our current 2023 business plan. \u00a0
As of December 31, 2023 NNIT, A/S\u2019 net balance position (trade receivables minus trade payables) divided on \u00a0
currency amounted to a short-term outflow primarily in Chinese yuan and Czech koruna and a short term \u00a0
inflow on US dollars and Euro. A 10% depreciation of the exchange rate of the Danish kroner against NNIT A/S\u2019 \u00a0
transaction exposures (net balance position) will have the below illustrated impact (in Danish kroner) on the net \u00a0
profit before tax for the year ended December 31, 2023. \u00a0
Trade \u00a0
Trade \u00a0
Net balance \u00a0
Transaction \u00a0
10% \u00a0
Million \u00a0
Receivables \u00a0
Payables \u00a0
position \u00a0
exposure1 \u00a0
sensitivity2 \u00a0
December 31, 2023 \u00a0
CNY \u00a0
0.2 \u00a0
0.6 \u00a0
(0.4) \u00a0
(0.4) \u00a0
0.0 \u00a0
CZK \u00a0
-
11.1 \u00a0
(11.1) \u00a0
(11.1) \u00a0
(1.1) \u00a0
CHF \u00a0
0.3 \u00a0
1.8 \u00a0
(1.5) \u00a0
(1.5) \u00a0
(0.1) \u00a0
USD \u00a0
3.6 \u00a0
7.9 \u00a0
(4.3) \u00a0
(4.3) \u00a0
(0.4) \u00a0
EUR3 \u00a0
3.6 \u00a0
11.7 \u00a0
(8.1) \u00a0
(8.1) \u00a0
(0.8) \u00a0
Trade \u00a0
Trade \u00a0
Net balance \u00a0
Transaction \u00a0
10% \u00a0
Million \u00a0
Receivables \u00a0
Payables \u00a0
position \u00a0
exposure1 \u00a0
sensitivity2 \u00a0
December 31, 2022 \u00a0
CNY \u00a0
0.3 \u00a0
49.2 \u00a0
(48.9) \u00a0
(48.9) \u00a0
(4.9) \u00a0
CZK \u00a0
-
35.5 \u00a0
(35.5) \u00a0
(35.5) \u00a0
(3.5) \u00a0
CHF \u00a0
0.1 \u00a0
0.1 \u00a0
-
-
-
USD \u00a0
11.2 \u00a0
4.5 \u00a0
6.7 \u00a0
6.7 \u00a0
0.7 \u00a0
EUR3 \u00a0
7.6 \u00a0
2.9 \u00a0
4.7 \u00a0
4.7 \u00a0
0.5 \u00a0
Credit risk \u00a0
NNIT\u2019s credit risk principally arises from trade receivables, which amounted to DKK 474 million as of December \u00a0
31, 2023 (December 31, 2022: DKK 618 million). The maximum credit risk corresponds to the carrying amount. \u00a0
For many years, NNIT has not realised any significant losses on receivables. The classification of trade receiva- \u00a0
bles according to maturity date is set out in the note 3.6. \u00a0
Cash management \u00a0
NNIT is committed to maintain a flexible capital structure. As of December 31, 2023, NNIT had undrawn \u00a0
committed credit facilities in the amount of DKK 33 million (2022: DKK 193 million). The credit facility includes \u00a0
financial covenants with reference to the ratio between net debt and EBITDA, Available liquidity and minimum \u00a0
EBITDA. \u00a0
The facility has been decreased to DKK 300 million (December 2022: 1,050) after completion of the divestment. \u00a0
The total credit facility of DKK 266 million is classified as long-term, as the maturity of the facility is beyond one \u00a0
year from reporting date, experation in 2026. As of December 31, 2023, NNIT had \u2018cash and cash equivalents\u2019 \u00a0
DKK 254 million outside Denmark and \u2018bank facilities\u2019, net of DKK 266 million in Denmark. \u00a0
Capital management \u00a0
NNIT monitors capital on the basis of the solvency ratio, which is calculated on the basis of the total equity as a \u00a0
percentage of the total equity and liabilities. At the end of the year, the solvency ratio was 40.4% (2022: 29.6%). \u00a0
",
"dimensions": {
"concept": "ifrs-full:DisclosureOfFinancialRiskManagementExplanatory",
"language": "en",
"entity": "scheme:549300KM8QVF7WR40664",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"fact2296": {
"value": "Financial risks \u00a0
NNIT\u2019s objective at all times is to limit the Company\u2019s financial risks. \u00a0
Financing and sufficient liquidity are fundamental to NNIT\u00b4s continuing operations and future growth. Liquidity \u00a0
is managed centrally from the Parent Company. \u00a0
To cover the Group\u2019s liquidity needs, an agreement on credit facilities for a total of DKK 300 million has been \u00a0
entered (DKK 1,050 million in 2022 as interim facility in connection with carve-out costs). The Group's credit \u00a0
facilities are subject to standard financial covenants. \u00a0
The liquidity risk is countered by consistent focus on budgeted and realized cash flow. \u00a0
Cash management \u00a0
NNIT is committed to maintain a flexible capital structure. As of December 31, 2023, NNIT had undrawn \u00a0
committed credit facilities in the amount of DKK 33 million (2022: DKK 193 million). The credit facility includes \u00a0
financial covenants with reference to the ratio between net debt and EBITDA, Available liquidity and minimum \u00a0
EBITDA. \u00a0
The facility has been decreased to DKK 300 million (December 2022: 1,050) after completion of the divestment. \u00a0
The total credit facility of DKK 266 million is classified as long-term, as the maturity of the facility is beyond one \u00a0
year from reporting date, experation in 2026. As of December 31, 2023, NNIT had \u2018cash and cash equivalents\u2019 \u00a0
DKK 254 million outside Denmark and \u2018bank facilities\u2019, net of DKK 266 million in Denmark. \u00a0
",
"dimensions": {
"concept": "ifrs-full:DisclosureOfLiquidityRiskExplanatory",
"language": "en",
"entity": "scheme:549300KM8QVF7WR40664",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"fact2298": {
"value": "NNIT is exposed to exchange rate risks in the countries where NNIT has its main activities. The majority part \u00a0
of NNIT\u2019s sales is in DKK and EUR, implying limited foreign exchange risk, due to the Parent Company\u2019s func- \u00a0
tional currency being DKK and Denmark\u2019s fixed-rate policy towards EUR. NNIT\u2019s foreign exchange risk therefore \u00a0
primarily stems from transactions carried out in the currencies of other countries in which NNIT mainly oper- \u00a0
ates: Primarily the Philippines peso, US Dollar, Czech Koruna and to a lesser extent Chinese yuan and the Swiss \u00a0
franc. \u00a0
Most of the foreign exchange risk in the Chinese yuan and US dollar and all of the foreign exchange risk in the \u00a0
Czech koruna and the Philippines are due to intercompany transactions. \u00a0
Foreign exchange sensitivity analysis \u00a0
NNIT estimates that all other variables being constant, a 10% depreciation of the average 2023 exchange rate of \u00a0
the Danish kroner against the following currencies would have had the indicated impact (in Danish kroner) on \u00a0
our operating profit (EBIT) for 2023. The following sensitivity analysis addresses hypothetical situations and is \u00a0
provided for illustrative purposes only: \u00a0
DKK million \u00a0
2023 \u00a0
2022 \u00a0
EUR \u00a0
10 \u00a0
25 \u00a0
CNY \u00a0
(2) \u00a0
(18) \u00a0
CZK \u00a0
(6) \u00a0
(12) \u00a0
USD \u00a0
12 \u00a0
18 \u00a0
CHF \u00a0
-
-
PHP \u00a0
(9) \u00a0
(11) \u00a0
A corresponding appreciation of the Danish kroner against the above currencies would have had the opposite \u00a0
impact. \u00a0
Currency sensitivities1 \u00a0
Estimated annual impact on NNIT\u00b4s operating profit of a 10% increase in the outlined currencies against DKK \u00a0
DKK million \u00a0
2024 \u00a0
EUR \u00a0
2
CNY \u00a0
3
CZK \u00a0
(3) \u00a0
PHP \u00a0
(7) \u00a0
CHF \u00a0
1
USD \u00a0
15 \u00a0
1\ua880\ua881The above sensitivities addresses hypothetical situations and are provided for illustrative purpose only. The sensitivities assume our \u00a0
business develops consistently with our current 2023 business plan. \u00a0
As of December 31, 2023 NNIT, A/S\u2019 net balance position (trade receivables minus trade payables) divided on \u00a0
currency amounted to a short-term outflow primarily in Chinese yuan and Czech koruna and a short term \u00a0
inflow on US dollars and Euro. A 10% depreciation of the exchange rate of the Danish kroner against NNIT A/S\u2019 \u00a0
transaction exposures (net balance position) will have the below illustrated impact (in Danish kroner) on the net \u00a0
profit before tax for the year ended December 31, 2023. \u00a0
Trade \u00a0
Trade \u00a0
Net balance \u00a0
Transaction \u00a0
10% \u00a0
Million \u00a0
Receivables \u00a0
Payables \u00a0
position \u00a0
exposure1 \u00a0
sensitivity2 \u00a0
December 31, 2023 \u00a0
CNY \u00a0
0.2 \u00a0
0.6 \u00a0
(0.4) \u00a0
(0.4) \u00a0
0.0 \u00a0
CZK \u00a0
-
11.1 \u00a0
(11.1) \u00a0
(11.1) \u00a0
(1.1) \u00a0
CHF \u00a0
0.3 \u00a0
1.8 \u00a0
(1.5) \u00a0
(1.5) \u00a0
(0.1) \u00a0
USD \u00a0
3.6 \u00a0
7.9 \u00a0
(4.3) \u00a0
(4.3) \u00a0
(0.4) \u00a0
EUR3 \u00a0
3.6 \u00a0
11.7 \u00a0
(8.1) \u00a0
(8.1) \u00a0
(0.8) \u00a0
Trade \u00a0
Trade \u00a0
Net balance \u00a0
Transaction \u00a0
10% \u00a0
Million \u00a0
Receivables \u00a0
Payables \u00a0
position \u00a0
exposure1 \u00a0
sensitivity2 \u00a0
December 31, 2022 \u00a0
CNY \u00a0
0.3 \u00a0
49.2 \u00a0
(48.9) \u00a0
(48.9) \u00a0
(4.9) \u00a0
CZK \u00a0
-
35.5 \u00a0
(35.5) \u00a0
(35.5) \u00a0
(3.5) \u00a0
CHF \u00a0
0.1 \u00a0
0.1 \u00a0
-
-
-
USD \u00a0
11.2 \u00a0
4.5 \u00a0
6.7 \u00a0
6.7 \u00a0
0.7 \u00a0
EUR3 \u00a0
7.6 \u00a0
2.9 \u00a0
4.7 \u00a0
4.7 \u00a0
0.5 \u00a0
",
"dimensions": {
"concept": "ifrs-full:DisclosureOfMarketRiskExplanatory",
"language": "en",
"entity": "scheme:549300KM8QVF7WR40664",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"fact2299": {
"value": "Foreign exchange sensitivity analysis \u00a0
NNIT estimates that all other variables being constant, a 10% depreciation of the average 2023 exchange rate of \u00a0
the Danish kroner against the following currencies would have had the indicated impact (in Danish kroner) on \u00a0
our operating profit (EBIT) for 2023. The following sensitivity analysis addresses hypothetical situations and is \u00a0
provided for illustrative purposes only: \u00a0
DKK million \u00a0
2023 \u00a0
2022 \u00a0
EUR \u00a0
10 \u00a0
25 \u00a0
CNY \u00a0
(2) \u00a0
(18) \u00a0
CZK \u00a0
(6) \u00a0
(12) \u00a0
USD \u00a0
12 \u00a0
18 \u00a0
CHF \u00a0
-
-
PHP \u00a0
(9) \u00a0
(11) \u00a0
A corresponding appreciation of the Danish kroner against the above currencies would have had the opposite \u00a0
impact. \u00a0
Currency sensitivities1 \u00a0
Estimated annual impact on NNIT\u00b4s operating profit of a 10% increase in the outlined currencies against DKK \u00a0
DKK million \u00a0
2024 \u00a0
EUR \u00a0
2
CNY \u00a0
3
CZK \u00a0
(3) \u00a0
PHP \u00a0
(7) \u00a0
CHF \u00a0
1
USD \u00a0
15 \u00a0
1\ua880\ua881The above sensitivities addresses hypothetical situations and are provided for illustrative purpose only. The sensitivities assume our \u00a0
business develops consistently with our current 2023 business plan. \u00a0
As of December 31, 2023 NNIT, A/S\u2019 net balance position (trade receivables minus trade payables) divided on \u00a0
currency amounted to a short-term outflow primarily in Chinese yuan and Czech koruna and a short term \u00a0
inflow on US dollars and Euro. A 10% depreciation of the exchange rate of the Danish kroner against NNIT A/S\u2019 \u00a0
transaction exposures (net balance position) will have the below illustrated impact (in Danish kroner) on the net \u00a0
profit before tax for the year ended December 31, 2023. \u00a0
Trade \u00a0
Trade \u00a0
Net balance \u00a0
Transaction \u00a0
10% \u00a0
Million \u00a0
Receivables \u00a0
Payables \u00a0
position \u00a0
exposure1 \u00a0
sensitivity2 \u00a0
December 31, 2023 \u00a0
CNY \u00a0
0.2 \u00a0
0.6 \u00a0
(0.4) \u00a0
(0.4) \u00a0
0.0 \u00a0
CZK \u00a0
-
11.1 \u00a0
(11.1) \u00a0
(11.1) \u00a0
(1.1) \u00a0
CHF \u00a0
0.3 \u00a0
1.8 \u00a0
(1.5) \u00a0
(1.5) \u00a0
(0.1) \u00a0
USD \u00a0
3.6 \u00a0
7.9 \u00a0
(4.3) \u00a0
(4.3) \u00a0
(0.4) \u00a0
EUR3 \u00a0
3.6 \u00a0
11.7 \u00a0
(8.1) \u00a0
(8.1) \u00a0
(0.8) \u00a0
Trade \u00a0
Trade \u00a0
Net balance \u00a0
Transaction \u00a0
10% \u00a0
Million \u00a0
Receivables \u00a0
Payables \u00a0
position \u00a0
exposure1 \u00a0
sensitivity2 \u00a0
December 31, 2022 \u00a0
CNY \u00a0
0.3 \u00a0
49.2 \u00a0
(48.9) \u00a0
(48.9) \u00a0
(4.9) \u00a0
CZK \u00a0
-
35.5 \u00a0
(35.5) \u00a0
(35.5) \u00a0
(3.5) \u00a0
CHF \u00a0
0.1 \u00a0
0.1 \u00a0
-
-
-
USD \u00a0
11.2 \u00a0
4.5 \u00a0
6.7 \u00a0
6.7 \u00a0
0.7 \u00a0
EUR3 \u00a0
7.6 \u00a0
2.9 \u00a0
4.7 \u00a0
4.7 \u00a0
0.5 \u00a0
",
"dimensions": {
"concept": "ifrs-full:DisclosureOfEffectOfChangesInForeignExchangeRatesExplanatory",
"language": "en",
"entity": "scheme:549300KM8QVF7WR40664",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"fact2321": {
"value": "Capital management \u00a0
NNIT monitors capital on the basis of the solvency ratio, which is calculated on the basis of the total equity as a \u00a0
percentage of the total equity and liabilities. At the end of the year, the solvency ratio was 40.4% (2022: 29.6%). \u00a0
",
"dimensions": {
"concept": "ifrs-full:DisclosureOfObjectivesPoliciesAndProcessesForManagingCapitalExplanatory",
"language": "en",
"entity": "scheme:549300KM8QVF7WR40664",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"fact2340": {
"value": "5.2 Fee to statutory auditors \u00a0
DKK million \u00a0
2023 \u00a0
2022 \u00a0
Statutory audit \u00a0
2.6 \u00a0
7.2 \u00a0
Audit-related services \u00a0
0.1 \u00a0
0.1 \u00a0
Tax advisory services \u00a0
1.2 \u00a0
0.3 \u00a0
Other services \u00a0
1.3 \u00a0
0.9 \u00a0
Total fee to statutory auditors \u00a0
5.2 \u00a0
8.5 \u00a0
Fees for services other than statutory audit of the financial statements provided by PricewaterhouseCoopers \u00a0
Statsautoriseret Revisionspartnerselskab to the Group consists of carve-out services and related tax services. \u00a0
",
"dimensions": {
"concept": "ifrs-full:DisclosureOfAuditorsRemunerationExplanatory",
"language": "en",
"entity": "scheme:549300KM8QVF7WR40664",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"fact2346": {
"value": "5.6 Contingent
liabilities, other contractual obligations and legal proceedings \u00a0
NNIT has entered into short-term and low-value lease agreement for printers, coffee makers, watercoolers and \u00a0
storage. The total value of these agreements are immaterial. \u00a0
Other contractual obligations expiring within the following periods from balance sheet date \u00a0
DKK million \u00a0
2023 \u00a0
2022 \u00a0
Within 1 year \u00a0
18 \u00a0
30 \u00a0
Between 1 and 5 years \u00a0
5
28 \u00a0
Total \u00a0
23 \u00a0
58 \u00a0
Other contractual obligations recognized as an expense \u00a0
28 \u00a0
30 \u00a0
NNIT and its Danish subsidiary SCALES A/S are jointly taxed with the Danish companies in the Novo Group. \u00a0
The Danish companies are jointly and individually liable for the joint taxation. Any subsequent adjustments to \u00a0
income taxes and withholding taxes may lead to a larger liability. The tax for the individual companies is allo- \u00a0
cated in full on the basis of the expected taxable income. \u00a0
",
"dimensions": {
"concept": "ifrs-full:DisclosureOfCommitmentsAndContingentLiabilitiesExplanatory",
"language": "en",
"entity": "scheme:549300KM8QVF7WR40664",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"fact2347": {
"value": "5.6 Contingent
liabilities, other contractual obligations and legal proceedings \u00a0
NNIT has entered into short-term and low-value lease agreement for printers, coffee makers, watercoolers and \u00a0
storage. The total value of these agreements are immaterial. \u00a0
Other contractual obligations expiring within the following periods from balance sheet date \u00a0
DKK million \u00a0
2023 \u00a0
2022 \u00a0
Within 1 year \u00a0
18 \u00a0
30 \u00a0
Between 1 and 5 years \u00a0
5
28 \u00a0
Total \u00a0
23 \u00a0
58 \u00a0
Other contractual obligations recognized as an expense \u00a0
28 \u00a0
30 \u00a0
NNIT and its Danish subsidiary SCALES A/S are jointly taxed with the Danish companies in the Novo Group. \u00a0
The Danish companies are jointly and individually liable for the joint taxation. Any subsequent adjustments to \u00a0
income taxes and withholding taxes may lead to a larger liability. The tax for the individual companies is allo- \u00a0
cated in full on the basis of the expected taxable income. \u00a0
",
"dimensions": {
"concept": "ifrs-full:DisclosureOfContingentLiabilitiesExplanatory",
"language": "en",
"entity": "scheme:549300KM8QVF7WR40664",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"fact2348": {
"value": "5.6 Contingent
liabilities, other contractual obligations and legal proceedings \u00a0
NNIT has entered into short-term and low-value lease agreement for printers, coffee makers, watercoolers and \u00a0
storage. The total value of these agreements are immaterial. \u00a0
Other contractual obligations expiring within the following periods from balance sheet date \u00a0
DKK million \u00a0
2023 \u00a0
2022 \u00a0
Within 1 year \u00a0
18 \u00a0
30 \u00a0
Between 1 and 5 years \u00a0
5
28 \u00a0
Total \u00a0
23 \u00a0
58 \u00a0
Other contractual obligations recognized as an expense \u00a0
28 \u00a0
30 \u00a0
NNIT and its Danish subsidiary SCALES A/S are jointly taxed with the Danish companies in the Novo Group. \u00a0
The Danish companies are jointly and individually liable for the joint taxation. Any subsequent adjustments to \u00a0
income taxes and withholding taxes may lead to a larger liability. The tax for the individual companies is allo- \u00a0
cated in full on the basis of the expected taxable income. \u00a0
",
"dimensions": {
"concept": "ifrs-full:DisclosureOfOtherProvisionsContingentLiabilitiesAndContingentAssetsExplanatory",
"language": "en",
"entity": "scheme:549300KM8QVF7WR40664",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"fact2349": {
"value": "5.6 Contingent
liabilities, other contractual obligations and legal proceedings \u00a0
NNIT has entered into short-term and low-value lease agreement for printers, coffee makers, watercoolers and \u00a0
storage. The total value of these agreements are immaterial. \u00a0
Other contractual obligations expiring within the following periods from balance sheet date \u00a0
DKK million \u00a0
2023 \u00a0
2022 \u00a0
Within 1 year \u00a0
18 \u00a0
30 \u00a0
Between 1 and 5 years \u00a0
5
28 \u00a0
Total \u00a0
23 \u00a0
58 \u00a0
Other contractual obligations recognized as an expense \u00a0
28 \u00a0
30 \u00a0
NNIT and its Danish subsidiary SCALES A/S are jointly taxed with the Danish companies in the Novo Group. \u00a0
The Danish companies are jointly and individually liable for the joint taxation. Any subsequent adjustments to \u00a0
income taxes and withholding taxes may lead to a larger liability. The tax for the individual companies is allo- \u00a0
cated in full on the basis of the expected taxable income. \u00a0
",
"dimensions": {
"concept": "ifrs-full:DisclosureOfCommitmentsExplanatory",
"language": "en",
"entity": "scheme:549300KM8QVF7WR40664",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"fact2357": {
"value": "A/S",
"dimensions": {
"concept": "ifrs-full:LegalFormOfEntity",
"language": "en",
"entity": "scheme:549300KM8QVF7WR40664",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"fact2358": {
"value": "Novo Holdings A/S",
"dimensions": {
"concept": "ifrs-full:NameOfParentEntity",
"language": "en",
"entity": "scheme:549300KM8QVF7WR40664",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"fact2359": {
"value": "Novo Nordisk Foundation",
"dimensions": {
"concept": "ifrs-full:NameOfUltimateParentOfGroup",
"language": "en",
"entity": "scheme:549300KM8QVF7WR40664",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"fact2361": {
"value": "Companies in the NNIT Group: \u00a0
Year of \u00a0
Percentage \u00a0
incorporation/ \u00a0
Share \u00a0
of shares \u00a0
Country \u00a0
acquisition \u00a0
capital \u00a0
owned \u00a0
NNIT (Tianjin Technology Co. Ltd.) \u00a0
China \u00a0
2007 \u00a0
CNY 10,804,229 \u00a0
100 \u00a0
NNIT Switzerland AG \u00a0
Switzerland \u00a0
2010 \u00a0
CHF 100,000 \u00a0
100 \u00a0
NNIT Germany GmbH \u00a0
Germany \u00a0
2011 \u00a0
EUR 25,000 \u00a0
100 \u00a0
NNIT Inc. \u00a0
USA \u00a0
2011 \u00a0
USD 3,250,000 \u00a0
100 \u00a0
NNIT UK Ltd.1 \u00a0
UK \u00a0
2015 \u00a0
GBP 50,000 \u00a0
100 \u00a0
SCALES A/S \u00a0
Denmark \u00a0
2017 \u00a0
DKK 600,000 \u00a0
100 \u00a0
NNIT Ireland Ltd \u00a0
Ireland \u00a0
2018 \u00a0
EUR 100 \u00a0
100 \u00a0
NNIT Poland Sp. Z o.o. \u00a0
Poland \u00a0
2019 \u00a0
PLN 5,000 \u00a0
100 \u00a0
NNIT Singapore Holdings Pte. Ltd. \u00a0
Singapore \u00a0
2019 \u00a0
SGD 546,278 \u00a0
100 \u00a0
NNIT Singapore Pte. Ltd. \u00a0
Singapore \u00a0
2019 \u00a0
SGD 66,700 \u00a0
100 \u00a0
Excellis Health Solutions LLC \u00a0
USA \u00a0
2020 \u00a0
USD 250,000 \u00a0
100 \u00a0
Excellis Europe Ltd.2 \u00a0
UK \u00a0
2020 \u00a0
GBP 100 \u00a0
100 \u00a0
SL Controls Ltd. \u00a0
Ireland \u00a0
2021 \u00a0
EUR 100 \u00a0
100 \u00a0
SL Controls USA Inc. \u00a0
USA \u00a0
2021 \u00a0
USD 60,000 \u00a0
100 \u00a0
NNIT Italy S.r.l \u00a0
Italy \u00a0
2022 \u00a0
EUR 40,000 \u00a0
100 \u00a0
NNIT Espa\u00f1a Consultoria Tecnologica \u00a0
y de la informaction siciedad limitada \u00a0
Spain \u00a0
2022 \u00a0
EUR 50,000 \u00a0
100 \u00a0
NNIT Czech Republic 2022 s.r.o. \u00a0
Czech Republic \u00a0
2023 \u00a0
EUR 20,000 \u00a0
100 \u00a0
NNIT Digital & Life Sciences \u00a0
Philippines Inc. \u00a0
Philippines \u00a0
2023 \u00a0
PHP 11,200,000 \u00a0
100 \u00a0
1\ua880\ua881NNIT\ua881UK\ua881Limited,\ua881registration\ua881number\ua88109399926,\ua881is\ua881exempt\ua881from\ua881the\ua881UK\ua881requirements\ua881relating\ua881to\ua881the\ua881audit\ua881of\ua881financial\ua881statements\ua881under\ua881 \u00a0
section 479A of the Companies Act 2006. \u00a0
2\ua880\ua881Excellis\ua881Europe\ua881Ltd.,\ua881registration\ua881number\ua88109184253,\ua881is\ua881exempt\ua881from\ua881the\ua881UK\ua881requirements\ua881relating\ua881to\ua881the\ua881audit\ua881of\ua881financial\ua881statements\ua881 \u00a0
under section 479A of the Companies Act 2006. \u00a0
",
"dimensions": {
"concept": "ifrs-full:DisclosureOfSignificantInvestmentsInSubsidiariesExplanatory",
"language": "en",
"entity": "scheme:549300KM8QVF7WR40664",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"fact2362": {
"value": "Companies in the NNIT Group: \u00a0
Year of \u00a0
Percentage \u00a0
incorporation/ \u00a0
Share \u00a0
of shares \u00a0
Country \u00a0
acquisition \u00a0
capital \u00a0
owned \u00a0
NNIT (Tianjin Technology Co. Ltd.) \u00a0
China \u00a0
2007 \u00a0
CNY 10,804,229 \u00a0
100 \u00a0
NNIT Switzerland AG \u00a0
Switzerland \u00a0
2010 \u00a0
CHF 100,000 \u00a0
100 \u00a0
NNIT Germany GmbH \u00a0
Germany \u00a0
2011 \u00a0
EUR 25,000 \u00a0
100 \u00a0
NNIT Inc. \u00a0
USA \u00a0
2011 \u00a0
USD 3,250,000 \u00a0
100 \u00a0
NNIT UK Ltd.1 \u00a0
UK \u00a0
2015 \u00a0
GBP 50,000 \u00a0
100 \u00a0
SCALES A/S \u00a0
Denmark \u00a0
2017 \u00a0
DKK 600,000 \u00a0
100 \u00a0
NNIT Ireland Ltd \u00a0
Ireland \u00a0
2018 \u00a0
EUR 100 \u00a0
100 \u00a0
NNIT Poland Sp. Z o.o. \u00a0
Poland \u00a0
2019 \u00a0
PLN 5,000 \u00a0
100 \u00a0
NNIT Singapore Holdings Pte. Ltd. \u00a0
Singapore \u00a0
2019 \u00a0
SGD 546,278 \u00a0
100 \u00a0
NNIT Singapore Pte. Ltd. \u00a0
Singapore \u00a0
2019 \u00a0
SGD 66,700 \u00a0
100 \u00a0
Excellis Health Solutions LLC \u00a0
USA \u00a0
2020 \u00a0
USD 250,000 \u00a0
100 \u00a0
Excellis Europe Ltd.2 \u00a0
UK \u00a0
2020 \u00a0
GBP 100 \u00a0
100 \u00a0
SL Controls Ltd. \u00a0
Ireland \u00a0
2021 \u00a0
EUR 100 \u00a0
100 \u00a0
SL Controls USA Inc. \u00a0
USA \u00a0
2021 \u00a0
USD 60,000 \u00a0
100 \u00a0
NNIT Italy S.r.l \u00a0
Italy \u00a0
2022 \u00a0
EUR 40,000 \u00a0
100 \u00a0
NNIT Espa\u00f1a Consultoria Tecnologica \u00a0
y de la informaction siciedad limitada \u00a0
Spain \u00a0
2022 \u00a0
EUR 50,000 \u00a0
100 \u00a0
NNIT Czech Republic 2022 s.r.o. \u00a0
Czech Republic \u00a0
2023 \u00a0
EUR 20,000 \u00a0
100 \u00a0
NNIT Digital & Life Sciences \u00a0
Philippines Inc. \u00a0
Philippines \u00a0
2023 \u00a0
PHP 11,200,000 \u00a0
100 \u00a0
1\ua880\ua881NNIT\ua881UK\ua881Limited,\ua881registration\ua881number\ua88109399926,\ua881is\ua881exempt\ua881from\ua881the\ua881UK\ua881requirements\ua881relating\ua881to\ua881the\ua881audit\ua881of\ua881financial\ua881statements\ua881under\ua881 \u00a0
section 479A of the Companies Act 2006. \u00a0
2\ua880\ua881Excellis\ua881Europe\ua881Ltd.,\ua881registration\ua881number\ua88109184253,\ua881is\ua881exempt\ua881from\ua881the\ua881UK\ua881requirements\ua881relating\ua881to\ua881the\ua881audit\ua881of\ua881financial\ua881statements\ua881 \u00a0
under section 479A of the Companies Act 2006. \u00a0
",
"dimensions": {
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"language": "en",
"entity": "scheme:549300KM8QVF7WR40664",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"fact2364": {
"value": "5.8 Events after the balance sheet date \u00a0
There have been no events after the balance sheet date which would have a significant impact on an assess- \u00a0
ment of NNIT's financial position as of December 31, 2023. \u00a0
",
"dimensions": {
"concept": "ifrs-full:DisclosureOfEventsAfterReportingPeriodExplanatory",
"language": "en",
"entity": "scheme:549300KM8QVF7WR40664",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"fact1610": {
"value": "NNIT A/S",
"dimensions": {
"concept": "ifrs-full:NameOfReportingEntityOrOtherMeansOfIdentification",
"language": "en",
"entity": "scheme:549300KM8QVF7WR40664",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"fact1611": {
"value": "Oestmarken 3A DK-2860 Soeborg",
"dimensions": {
"concept": "ifrs-full:AddressOfRegisteredOfficeOfEntity",
"language": "en",
"entity": "scheme:549300KM8QVF7WR40664",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"fact1613": {
"value": "Denmark",
"dimensions": {
"concept": "ifrs-full:CountryOfIncorporation",
"language": "en",
"entity": "scheme:549300KM8QVF7WR40664",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"fact1614": {
"value": "Denmark",
"dimensions": {
"concept": "ifrs-full:DomicileOfEntity",
"language": "en",
"entity": "scheme:549300KM8QVF7WR40664",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
}
}
}