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"s7_notes__6__5": {
"value": "Note 1 Corporate informationThe Parent Company Arribatec Group ASA (publ) (\u201cArribatec\u201d), with Norwegian corporate identity number 979 867 654 is a public limited liability company, incorporated in Norway. The registered address is L\u00f8renfaret 1B, NO-0585 Oslo. The company\u2019s shares are traded in Norway on the Oslo Stock Exchange, Oslo B\u00f8rs.The principal activities of the company and its subsidiaries (the Group) are to be a software and consulting company. With a customer centric engagement model, combined with a deep system-, integration- and domain competence, Arribatec builds long-term strategic partnership with a broad customer base. Arribatec serves more than 1 000 entities spread over 20 countries and various industries, both in the private and public sector. The activities are further described in Note 5.The Annual Report and Parent Company Report for Arribatec Group ASA (publ) were adopted by the Board of Directors on 26 April 2023 and will be submitted for approval to the Annual General Meeting 24.05.2023.Note 2 Summary of significant Accounting Policies2.1 Basis for preparationThe financial accounts for Arribatec Group ASA as \u201cthe Parent company\u201d together with its controlled subsidiaries, together called \u201cthe Group\u201d have been prepared in accordance with International Financial Reporting Standards as adopted by the EU (IFRS), relevant interpretations, and the Norwegian Accounting Act. The consolidated financial statements have been prepared on a historical cost basis, except where IFRS explicitly requires use of other values. As the Parent company has NOK as its functional currency, the financial accounts are presented in NOK.2.2 Basis of consolidationThe consolidated financial statements comprise the financial state-ments of the Parent Company and its subsidiaries as of 31 December 2022.Control is established when the Parent Company is exposed to, or has rights to, variable returns from its involvement with the entity and has the ability to affect those returns through its power over the entity.Business combinations are accounted for by using the acquisition method. Consolidation of a subsidiary begins when the Group obtains control over the subsidiary and ceases when the Group loses control of the subsidiary. Where necessary, adjustments are made to the financial statements of subsidiaries to bring the accounting policies used into line with the Group\u2019s accounting policies.There is a presumption that if the Group has the majority of the voting rights in an entity, the entity is considered as a subsidiary. To support this presumption and when the Group has less than a majority of the voting or similar rights of an investee, the Group considers all relevant facts and circumstances in assessing whether it has power over the entity. Including ownership interests, voting rights, ownership struc-ture and relative power, as well as options controlled by the Group and shareholder\u2019s agreement or other contractual agreements.The assessments are done for each individual investment. The Group re-assesses whether it controls an entity if facts and circumstances indicate that there are changes to one or more of the three elements of control.Intercompany transactions, balances and unrealized gains on trans-actions between group companies are eliminated. Unrealized losses are also eliminated unless the transaction provides evidence of an impairment of the transferred asset.Profit or loss and each component of other comprehensive income (OCI) are attributed to the equity holders of the Parent Company.2.3 Loss of controlIf the Group loses control over a subsidiary, it derecognizes the related assets (including goodwill), liabilities, non-controlling interest and other components of equity, while any resultant gain or loss is recognized in profit or loss. Any investment retained is recognized at fair value. A change in the ownership interest of a subsidiary, without a loss of control, is accounted for as an equity transaction.2.4 Functional currencies and presentation currencyThe financial statements are presented in NOK, which is the functional currency of the Parent company, as well as being the presentation currency for the Group. For the purpose of presenting this consolidated financial statement, the assets and liabilities of the Group\u2019s non-NOK operations are translated into NOK using exchange rates prevailing at the end of the reporting period. Income and expense items are translated at the average exchange rates for the year. All group transactions and group unsettled matters, and profit and losses for transactions between group companies that are put into effect, are eliminated at the consolidation.2.5 Business combinations and goodwillBusiness combinations are accounted for using the acquisition accounting method. Acquisition costs incurred are expensed and included in operating expenses. When the Group acquires a business, it assesses the identifiable assets acquired and liabilities assumed for appropriate classification and designation in accordance with the contractual terms, economic circumstances and relevant conditions as at the acquisition date. The acquirer\u2019s identifiable assets, liabilities and contingent liabilities that meet the conditions for recognition are recognized at their fair values at the acquisition date, except for non-current assets that are classified as held for sale and recognized at fair value less cost to sell, and deferred tax assets and liabilities which are recognized at nominal value.Goodwill arising on acquisition is recognized as an asset measured at the excess of the sum of the consideration transferred, the fair value of any previously held equity interests and the amount of any non-controlling interests in the acquire over the net amounts of the identifiable assets acquired and the liabilities assumed. If, after reas-sessment, the Group\u2019s interest in the net fair value of the acquirer\u2019s identifiable assets, liabilities and contingent liabilities exceeds the total consideration of the business combination, the excess is recog-nized in the income statement immediately.Any contingent consideration to be transferred by the acquirer will be recognized at fair value at the acquisition date. Subsequent changes to the fair value of the contingent consideration which is deemed to be an asset or liability will be recognized in the income statement as financial income or expense.If the contingent consideration is classified as equity, it will not be premeasured, and subsequent settlement will be accounted for within equity. If the business combination is achieved in stages, the fair value of the Group\u2019s previously held equity interest in the acquire is remeas-ured to fair value at the acquisition date through the income statement.For the purpose of impairment testing, goodwill acquired in a business combination is, from the acquisition date, allocated to each of the group\u2019s cash-generating units that are expected to benefit from the combination, irrespective of whether other assets or liabilities of the acquired entity are assigned to those units.The Group assesses each cash generating unit annually to determine whether any indication of impairment exists. Where an indicator of impairment exists, a formal estimate of the recoverable amount is made, which is considered to be the higher of fair value less costs to sell and value in use. If there is an indication that an asset is impaired, the recoverable amount of the asset is calculated in accordance with IAS 36 Impairment of assets. For goodwill, other intangible assets with indefinite useful lives and intangible assets not yet ready for use, the recoverable amount is assessed annually.2.6 Revenue from contracts with customersRevenue is measured based on the consideration to which the Group expects to be entitled in a contract with a customer. The Group recognizes revenue when it transfers control of a good or service to a customer. Intercompany sales are eliminated.Consulting servicesArribatec provides implementation and integration services under consulting contracts with customers. Most contracts have a pricing structure where Arribatec agrees to implement and integrate software for a fixed hourly rate agreed upon in the contract, but where the number of hours to be delivered is not specified in the contract.Arribatec\u2019s performance obligation is satisfied over time because the consulting services does not create an asset that Arribatec could use for an alternative purpose and Arribatec has an enforceable right to payment for the hours worked. Revenue is recognized over time, normally according to the invoiced hours for the period. A contract asset is recognized when invoicing is deferred compared to revenue recognition. A contract liability is recognized when invoicing is done in advance compared to revenue recognition.From time-to-time Arribatec has fixed price consulting contract. In the same manner as for the contract with variable hours, the asset created does not have an alternative use for Arribatec and Arribatec has an enforceable right to payment in line with progress in the project. Arribatec recognizes revenue over time, in line with progress in the project. Progress is estimated as hours spent at the balance sheet date divided with estimated total hours in the project. This requires estimating the remaining hours to complete.Recurring revenueSale of licensesA license establishes the customer\u2019s rights related to a company\u2019s intellectual property (IP) and the obligations of the company to provide those rights. IFRS 15 distinguishes between whether the license provides a \u201cright to use\u201d or a \u201cright to access\u201d IP. This impacts the timing of revenue recognition.In most cases sale of licenses is part of SaaS and Solaas contracts. Arribatec in some instances has contracts that includes sale of licenses only. Arribatec has analysed its (partner) licensing contracts and concluded that they control the license before it is transferred to the customer since Arribatec has legal ownership, physical posses-sion and the risk and reward of ownership. Arribatec is therefore the principal in the customer contract.When Arribatec licenses distinct on-premise licenses, these fall under the category \u201cright-to use\u201d since the license grants the right to the IP \u201cas is\u201d when delivered. The distinct on-premise licenses pricing model is a one-time fixed fee. Revenue is recognized at the point in time when the customer is provided with the ability to use the software. The fee is recognized as a revenue at the point of time when the customer has received legal title and physical possession and the customer has accepted the license. Generally, this is at the beginning of the license period.When Arribatec license cloud-based subscription licenses (\u201cright to access\u201d), the license is not considered distinct from the online/hosting service. Revenue is recognized over time, over the license/contract period, as the customer is receiving and consuming the benefits of access to the cloud-based license on an ongoing basis. The cloud-based subscription licenses are sold for a fixed annual or monthly fee. Revenue is recognized linearly over the subscription time.Software as a service (SaaS)Software is provided over time to an end customer from a Data Center managed or contracted by Arribatec. The obligations in the SaaS contract are to offer cloud-based access to the license (owned by Arribatec), maintenance of the utility of the software, including rights to updates and future releases, and in some contracts, provide support.The customer will purchase and obtain control of the software as-a-service on a subscription or consumption basis. Revenue is therefore recognized periodically over the life of the SaaS contract.In some cases, Arribatec has a separate installation and implementation contract regarding the same customer projects. When these contracts are negotiated close in time from each other, Arribatec considers whether the two contracts have been negotiated as a package with a single commercial objective, or not. If this is the case the two contracts are combined. If not, they are accounted for separately.The implementation and installation services are capable of being distinct and distinct within the context of these contracts. This is concluded based on an analysis of the different deliveries and the performance obligations in the contract. Arribatec has therefore concluded that there are generally two distinct performance obliga-tions in the two combined contracts. When there are two combined contracts, the transaction price is allocated between the two perfor-mance obligations based on relative stand-alone prices that are estimated based on the pricing of each element in the contract like hours, contract length, and options to extend the contract.Arribatec\u2019s performance obligation under the installation and integra-tion contract is satisfied over time because the consulting services does not create an asset that Arribatec could use for an alternative purpose and Arribatec has an enforceable right to payment for the hours worked. Revenue is accordingly recognized over time as the installation and integration is performed based on the hours worked.Solution as a service (SolaaS)As for SaaS, the main obligations in the SolaaS contract are to offer a cloud- based, \u201cright to access\u201d type of license, maintenance of the utility of the software, including updates and future releases, and provide support. In the SolaaS contracts an additional part of the value chain, the implementation and integration services, is added to the contract. In Solaas contracts the customer pays a fixed annual or monthly fee that also includes payment for the implementation and integration services\u201dAs for the SaaS, contracts with a separate (combined) implementation and integration service contract, generally in the SolaaS contracts, there are two distinct POs. However, this is assessed on a contract to contract basis, where all facts and circumstances are considered.When Solaas contracts is considered two (or more) performance obligations revenue is allocated between the performance obligations based on relative stand-alone selling prices and recognized as follows:\u2013 Consulting service. Revenue is recognized over time when the consulting service is delivered. \u2013 SaaS (license, online service and maintenance and support): The customer receives and consumes the benefits from the SaaS delivery as Arribatec performs under the contract. Therefore, the performance obligation is satisfied over time and revenue is recognized over the period the service is available for use by the customer.Managed servicesUnder the managed services contracts Arribatec helps customers operate their IT environments, either on premise or from the cloud. Managed services contracts are delivered on a fixed price and a minimum commitment to the customers, on a long-term contract. Additional work above the agreed level is considered normal consulting services.Arribatec delivers an integrated set of services as defined in the managed service agreement. The customer receives and consumes the benefits from the Managed services as Arribatec performs under the contract. Therefore, the performance obligation is satisfied over time and revenue is recognized over time.One-time revenue from third party hardwareIn some contracts Arribatec delivers both physical hardware and installation of software on the hardware, e.g. for self-service/ check-in kiosks. In such cases the hardware product is considered as a separate contract obligation that is recognized as revenue when it is installed.Other revenueRevenue from other servicesArribatec to a limited extent provides maintenance services, support services and application management services under separate contracts, for a fixed fee. The performance obligations under these contracts are satisfied over time and revenue is recognized accord-ingly.Government grantsGovernment grants are recognized when there is reasonable assur-ance that the grant will be received, and all associated conditions will be complied with. When the grant relates to an asset, it reduces the carrying amount of the asset. The grant is then recognized in profit or loss over the useful life of the depreciable asset by way of a reduced depreciation charge.2.7 Employee benefitsPension obligationsThe Group\u2019s pension obligations vary between countries depending on the local legislation and different pension systems, please see Note 28 for further description. The group only has defined contribu-tion retirement plans.Defined contribution retirement plans are retirement plans where the company\u2019s payment obligations are limited to the fixed contributions and where the fees already have been undertaken. The retirement benefits for the individual employee are dependent on the contributions paid to the retirement plan or an insurance company by the employer, and the return of capital invested in the retirement fund. Consequently, it is the employee that holds the risk of return (that the return will be lower than expected) and the risk of the investment (the risk that the invested pension provision will not be sufficient to cover expected retirement compensation in the future). The obligations of the Company related to payments of defined contribution retirement plans are expensed in the income statement as they are earned by the employee for services conducted on behalf of the employer during the period.2.8 Research and Development costDevelopment expenditures are capitalized only when the criterion for recognition is met, i.e., it is probable that the expected future economic benefits that are attributable to the asset will flow to the entity, management has committed itself to complete the asset, the technical feasibility of completing the asset has been demonstrated and the cost can be measured reliably. Research costs are expensed in full.The assets are amortized over their expected useful life once the assets are available for use. During the period of development, the asset is tested for impairment annually. Development costs that do not meet the criteria for capitalization are expensed as incurred.2.9 TaxesIncome taxes consists of current tax and deferred tax. Current income tax assets and liabilities for the current and prior periods are measured at the amount expected to be recovered from or paid to the taxation authorities. The tax rates and tax laws used to compute the amount are those that are enacted or substantively enacted by the balance sheet date.Deferred income tax is provided using the liability method on temporary differences at the balance sheet date between the tax bases of assets and liabilities and their carrying amounts for financial reporting purposes. Deferred income tax liabilities are recognized for all taxable temporary differences except where the deferred income tax liability arises from the initial recognition of goodwill or of an asset or liability in a transaction that is not a business combination and, at the time of the transaction, affects neither the accounting profit nor taxable profit or loss.A deferred tax asset is recognized to the extent that is probable that future taxable profit will be available against for which unused tax losses and unused tax credits can be utilized. A deferred tax asset arising from unused tax losses or tax credit is only recognized to the extent that the entity has sufficient taxable temporary differences or that there is convincing other evidence supporting the utilization of the tax losses and tax credits, including the impact of time restriction by local tax authorities. The carrying amount of deferred tax asset is reviewed at the end of each reporting period. Unrecognized deferred tax assets are reassessed at each balance sheet date. Deferred income tax assets and deferred income tax liabilities are offset, when a legally enforceable right exists to set off tax assets against income tax liabilities and the deferred income taxes relate to the same taxable entity or taxation authority.2.10 Property, plant and equipmentProperty, plant and equipment are measured at cost in the balance sheet, with a deduction for accumulated depreciation and any impair-ment. Depreciation is made on a straight-line basis over the asset\u2019s estimated useful life, which is assessed on an individual basis, ranging from five to ten years.2.11 Intangible assetsGoodwillGoodwill represents the excess of cost of an acquisition over the fair value of the net identifiable assets of the acquired subsidiary at the date of acquisition. Goodwill on the acquisition of subsidiaries is included within intangible assets. Goodwill that arises on the acqui-sition of subsidiaries is allocated to cash generating units (CGUs). Goodwill is measured at cost (residual) less accumulated impairment losses. Goodwill is tested for impairment at least annually, or when there are indications of impairment. Impairment is determined for goodwill by assessing the recoverable amount of each CGU to which the goodwill relates. When the recoverable amount of the CGU is less than it\u2019s carrying amount, an impairment loss is recognized. Impairment losses relating to goodwill cannot be reversed in future periods. When the group disposes of an operation within a CGU or group of CGUs to which goodwill has been allocated, a portion of the goodwill is included in the carrying amount of the operation when determining the gain of loss on disposal. The portion of the goodwill allocated is measured based on the relative values of the operation disposed of and the portion of the CGU retained at the date of the partial disposal, unless it can be demonstrated that another method better reflects the goodwill associated with the operation disposed of. The same principle is used for allocation of goodwill when the group reorganises its businesses.Customer relationships and technical assetsThe assets acquired in a business combination are recognized at fair value on the acquisition date. Customer relationships and databases have a finite useful life and are carried at cost less accumulated amortization. Amortization is calculated using the straight-line method to allocate the cost over their useful lives of three to five years.2.12 Financial instrumentsAll financial assets and liabilities are initially recognized at fair value, and subsequently classified either as financial assets at amortized cost or financial assets through profit or loss.Accounts and other receivableAccounts receivable and other receivables are initially recognized at the transaction price and are subsequently carried at amortized cost less provision for expected credit losses.Trade and other payablesTrade and other payables are initially recognized at fair value, and subsequently measured at amortized cost. Trade and other payables are measures at their nominal amount when the effect of discounting is not material.Cash and Cash equivalentCash and cash equivalents include cash at banks and on hand and other short term highly liquid investments with original maturities of three months or less. In the consolidated balance sheet, any bank overdrafts are shown within borrowings in current liabilities.Interest bearing loans and other financial liabilitiesThe Group\u2019s debt and other financial liabilities are initially recognized at fair value, including transaction costs directly attributable to the transaction, and are subsequently measured at amortized cost.2.13 ClassificationsFixed assets and long-term liabilities consist of items expected to be settled more than twelve months after the balance sheet date. Current assets and current liabilities consist of amounts that are expected to be settled within twelve months after the balance sheet date.2.14 Right of use assets and Lease liabilitiesAt the inception of a contract, the group assesses whether the contract is, or contains, a lease. A contract is, or contains, a lease if the contract conveys the right to control the use of an identified asset for a period of time, in exchange for consideration.For contracts that constitute, or contain a lease, the Group separates lease components if it benefits from the use of each underlying asset either on its own or together with other resources that are readily available, and the underlying asset is neither highly dependent on, nor highly interrelated with, the other underlying assets in the contract. The Group then accounts for each lease component within the contract as a lease separately from non-lease components of the contract.At the lease commencement date, the Group recognizes a lease liability and corresponding right-of-use asset for all lease agreements in which it is the lessee, except for the following exemptions applied:\u2022 Short-term leases (defined as twelve months or less)\u2022 Low value assets For these leases, the Group recognizes the lease payments as other operating expenses in the statement of profit or loss when they incur. The lease liability is recognized at the commencement date of the lease. The Group measures the lease liability at the present value of the lease payments for the right to use the underlying asset during the lease term that are not paid at the commencement date.The lease term represents the non-cancellable period of the lease, together with periods covered by an option either to extend or to terminate the lease when the Group is reasonably certain to exercise this option.The lease liability is subsequently measured by increasing the carrying amount to reflect interest on the lease liability, reducing the carrying amount to reflect the lease payments made and remeas-uring the carrying amount to reflect any reassessment or lease modifications, or to reflect adjustments in lease payments due to an adjustment in an index or rate. The Group does not include variable lease payments in the lease liability. Instead, the Group recognizes these variable lease expenses in profit or loss.The Group presents its lease liabilities as separate line items in the statement of financial position.The Group measures the right-of use asset at cost, less any accu-mulated depreciation and impairment losses, adjusted for any remeasurement of lease liabilities.The Group applies the depreciation requirements IAS 16 \u2018Property, Plant and Equipment\u2019 in depreciating the right-of-use asset, except that the right-of-use asset is depreciated from the commencement date to the earlier of the lease term and the remaining useful life of the right-of-use asset.The Group applies IAS 36 \u2018Impairment of Assets\u2019 to determine whether the right-of-use asset is impaired and to account for any impairment loss identified.2.15 ProvisionsProvisions and contingent liabilitiesProvisions are recognized when the Group has a present legal or constructive obligation as a result of past events, it is more likely than not that an outflow of resources will be required to settle the obliga-tion and the amount can be reliably estimated.Restructuring provisions are recognized only when the recognition criteria for provisions are fulfilled. The Group has a constructive obli-gation when a detailed formal plan identifies the activities concerned, the location and number of employees affected, a detailed estimate of the associated costs, and an appropriate timeline. Furthermore, the employees affected have been notified of the plan\u2019s main features.2.16 Changes in Accounting Policies and disclosures for 2022 calendar year or thereafterThe Group does not expect any standards issued by the IASB, but not yet effective, to have material impact on the Group.Note 3 Critical accounting estimates and judgements in terms of accounting policiesThe preparation of the consolidated financial statements in conformity with IFRS requires the use of certain critical accounting estimates and assumptions that affect the reported amounts of revenue, expenses, assets and liabilities, and the accompanying disclosures, and the disclosures of contingent liabilities. It also requires management to exercise its judgement in the process of applying the group\u2019s accounting policies. Uncertainty about these assumptions and estimates could result in outcomes that require a material adjustment to the carrying amount of assets or liabilities affected in future periods. Estimates and judgements are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.Critical accounting estimates and assumptionsThe group makes estimates and assumptions concerning the future. The resulting accounting estimates will, by definition, seldom equal the related actual results. The Group based its assumptions and estimates on parameters available when the financial statements were prepared. Existing circumstances and assumptions about future developments, however, may change due to market changes or circumstances arising beyond the control of the Group. Such changes are reflected in the assumptions when they occur. The estimates and assumptions that have significant risk of causing a material adjust-ment to the carrying amounts of assets and liabilities within the next financial year are addressed below. GoodwillIn accordance with the stated accounting policy, the group annu-ally tests whether goodwill has suffered any impairment or more frequently if impairment indicators are identified. The recoverable number of cash-generating units has been determined based on value-in-use calculations. These calculations require the use of esti-mates. The value-in-use calculation is based on a discounted cash flow model. The cash flows are derived from the budgets and fore-casts for the next five years, as approved by the Company\u2019s Board of Directors, and do not include significant investments that will enhance the performance of the CGU being tested. The recoverable amount is most sensitive to the discount rate used for the discounted cash flow model, as well as the expected future cash-inflows (sensitive to estimates of sales and cost levels) and the growth rate used for extrapolation purposes. Further details regarding goodwill and impair-ment reviews are included in Note 16.Note 4 Financial risksArribatec defines risk as all factors which could have a negative impact on the ability of the Group to achieve its business objectives. All economic activities are associated with risk. In order to manage risk in a balanced way, it must first be identified and assessed. Arribatec conducts risk management at both a Group and company level, where risks are evaluated in a systematic manner. The following summary is by no means comprehensive but offers an overview of all material financial risk factors which are considered important for Arribatec\u2019s future development.Risks associated with changes in economic conditions are managed through regular checks on developments in each country.Currency riskCurrency risk refers to the risk that the value of liquid and financial instruments may shift as a result of changes in exchange rates. Transactions in foreign currency (other than the unit\u2019s functional currency, which is NOK) are converted at the exchange rate on the transaction date. Monetary items in foreign currency are converted to NOK using the exchange rate at the balance sheet date. Non-monetary items measured at the historical rate expressed in a foreign currency are converted into NOK using the exchange rate on the transaction date.The currency risk is limited in Arribatec as few balance items are posted in foreign currency per 31.12.2022.Credit riskCredit risks are the risks that counterparty will not meet its obligations under a financial contract or customer contract, leading to a financial loss. The Group is exposed to credit risk from its operating activities, primarily related to cash and cash equivalents, trade receivables and contract assets from contracts with the customers and other receiv-ables.As part of the Group\u2019s earnings model, certain of its customers pays for software and services under a solutions as-a-software (SolaaS) arrangement, meaning that the customer is paying a monthly recurring sum for, inter alia, the software and services already provided or to be provided by the Group. As such, these customers\u2019 monthly recurring payment obligations also include payment for licenses and software already integrated and implemented, in addition to services related to continuous maintenance and consulting. This in contrast to e.g. software-as-a-service (SaaS) arrangements, where the customer in general pays a lump sum for the initial software integration and implementation, and subsequently only pays for services related to maintenance and consulting services. Although the Group has opted for this model to ensure some predictable long-term income, the Group is dependent on its customers having the ability and/or willing-ness to pay for the software and services already provided or to be provided. Customer credit risk is managed subject to established policies, procedures and controls relating to customer credit risk management. The maximum exposure to credit risk at the reporting date is the carrying value of each class of financial assets.The Company manage the credit risk by working closely with the customers. Additional cooperation and agreements are made with Partners like collection companies and credit check suppliers.Interest rate risksInterest risk is related to the risk the Group is exposed to from changes in the market\u2019s interest rate which can affect the net profit. The Group\u2019s main interest rate risk arises from long-term borrowings with variable rates, which amounted to NOK 31.2m on 31 December 2022 (2021: NOK 37.4m). The loan carries a variable interest rate based on the interbank rate in each currency with a margin. Any annualized increase or decrease by 100 basis point would increase/decrease the Groups profit before tax by appr. NOK 0.3m (NOK 0.4m).Liquidity riskLiquidity risk is the potential loss arising from the Group\u2019s inability to meet its contractual obligations when due. The Group monitors its risk of a shortage of funds using cash flow forecasts. The Group had cash and cash equivalents of NOK 40.4m at 31 December 2022 (2021: NOK 43.8m).The following table detail the Group\u2019s remaining contractual maturity for its non-derivative financial liabilities with agreed repayment periods. The tables have been drawn based on the undiscounted cash flows of financial liabilities based on the most likely date on which the Group can be required to pay. The table include both interest and principal cash flows. To the extent that interest flows are floating rate, the undiscounted amount is derived from the interest rate curves at the end of the reporting period. The contractual maturity is based on the most likely date on which the Group may be required to pay, ref Note 10.The amounts presented are subject to change If changes in variable interest rates differ to those estimates of interest rates determined at the end of the reporting period.NOK thousand -6 months 6 months - 1 year 1-2 years 2-4 years 4+ years TotalInterest bearing loans 9 525 3 812 7 725 11 880 2 768 35 710Accounts payable 31 879 0 0 0 0 31 879Other current liabilities 40 056 43 912 0 0 0 83 968Total 81 460 47 725 7 725 11 880 2 768 151 558The Group closely monitor and follow the cash situation. During 2022, Arribatec carried out a private placement and a subsequent repair offer that brought in 51.8 million. The Group\u2019s cash situation, including proceeds from this capital increase, were minus 3.3 million. Furthermore, 2022 was a year bringing the different acquired units into one Group on common policies, structure and systems, with the intention to realize the synergizes and secure being cash positive.Financing riskTo support the Group\u2019s growth ambitions, the Group continuously work on securing necessary committed financing and alternative funding sources. Securing non-current financing at competitive terms is a major part of the Group\u2019s long-term liquidity planning.Capital managementThe primary objective of the Group\u2019s capital management is to ensure the Group maintains a solid capital structure enabling it to develop and build its business to maximize shareholder value. The Group\u2019s objective is to maintain a balance of financial assets that reflects the cash requirement of its operations and investments for the next twelve months. No change was made in the objectives, policies, or process for managing capital during the year ended 31 December 2022.Note 5 SegmentThe market for Arribatec\u2019s Software and services are global. The chief decision maker will therefore follow up revenue and profitability on a global basis, segmented into the Business Areas. This is consistent with the internal reporting submitted to the chief operating decision maker, defined as the Management Group. The Management Group is responsible for allocating resources and assessing performance as well as making strategic decisions. Principles of revenue recognition are stated in accounting principles Note 2.6.SegmentThe management of the Group follows up the revenue by Business Area and geography. During 2022, segment reporting was imple-mented and for comparable 2021 figures, estimates have been applied, ref table below.Business services is focusing on ERP, BI & Analytics, DevOps, integra-tions and software solutions for research institutes. Arribatec Business services provide simplicity by implementing, customizing, maintaining and supporting the entire business landscape, with ERP as the core engine. We integrate it with other marked leading systems that provide better operational support and insight than a single ERP system does.EA & BPM provides Enterprise Architecture and Business Process Management. Arribatec EA&BPM delivers solutions and long-term services within the spaces of business process management, enter-prise architecture and corporate governance to major Norwegian and Nordic customers, both in the private and public sector.Cloud provides cloud services such as hosting IT infrastructure within f ex hybrid, Azure, Splunk and GDPR. Arribatec Cloud provides consulting, outsourcing and cloud services to private and public enterprises. In addition to offering market leading cloud services from Microsoft and Google, Arribatec Cloud also operates its own public cloud offering based on Norwegian data centers to accommodate special use cases for our customers.Hospitality delivers solutions for self-check-in/check-out and payments for the hospitality industry.Marine is the Business Area of Arribatec Group focusing on the Maritime sector. Arribatec Marine competences are the development, implementation, and consulting of the owned asset management system solutions: Infoship.2022Corporate/ NOK thousand Business services EA & BPM Cloud Hospitality MarineOther Eliminations TotalRevenue 291 362 89 789 113 726 3 642 47 066 1 166 (41 781) 504 968Materials, software and services (64 177) (19 812) (48 862) 1 948 (6 365) (17 561) 39 794 (115 035)Gross margin 227 185 69 977 64 864 5 590 40 701 (16 395) (1 988) 389 934Salary and personnel costs (177 970) (52 108) (41 291) (10 192) (39 066) (18 172) 0 (338 800)Other operating expenses (21 768) (5 437) (22 031) (3 678) (11 702) (22 613) 1 988 (85 241)Total operating expenses (199 739) (57 545) (63 322) (13 870) (50 768) (40 785) 1 988 (424 041)EBITDA 27 446 12 432 1 542 (8 280) (10 067) (57 180) 0 (34 107)Depreciation, amortization and impairment (15 110) (5 707) (7 116) (2 762) (14 696) (10 842) 0 (56 232)EBIT 12 336 6 725 (5 573) (11 042) (24 764) (68 022) 0 (90 339)Net financial items (331) (9) (357) (223) 74 757 0 (89)Profit/(loss) before tax 12 005 6 717 (5 931) (11 265) (24 690) (67 265) 0 (90 428)Gross margin % 78.0% 77.9% 57.0% 153.5% 86.5% na na 77.2%EBITDA % 9.4% 13.8% 1.4% (227.4%) (21.4%) na na (6.8%)2021Corporate/ NOK thousand Business services EA & BPM Cloud Hospitality MarineOther Eliminations TotalRevenue 223 390 72 967 87 673 1 097 49 540 0 (20 729) 413 938Materials, software and services (44 260) (13 597) (42 505) (1 003) (5 550) 0 14 055 (92 859)Gross margin 179 130 59 371 45 168 94 43 990 0 (6 673) 321 079Salary and personnel costs (154 807) (43 288) (27 264) (7 050) (39 594) (1 846) 1 170 (272 679)Other operating expenses (11 036) (4 621) (7 165) (3 273) (11 024) (23 585) 5 503 (55 201)Total operating expenses (165 842) (47 909) (34 429) (10 323) (50 618) (25 431) 6 673 (327 879)EBITDA 13 288 11 462 10 739 (10 229) (6 628) (25 431) 0 (6 800)Depreciation, amortization and impairment (4 247) (1 324) (6 310) (1 432) (8 747) (20 910) 0 (42 970)EBIT 9 041 10 138 4 429 (11 661) (15 374) (46 341) 0 (49 770)Net financial items (8 765) 100 (516) (235) (2 478) 8 004 0 (3 890)Profit/(loss) before tax 276 10 238 3 913 (11 896) (17 853) (38 337) 0 (53 660)Gross margin % 80.2% 81.4% 51.5% 8.6% 88.8% na na 77.6%EBITDA % 5.9% 15.7% 12.2% (932.4%) (13.4%) na na (1.6%)Disaggregation of revenueIn the following table, revenue is disaggregated by primary service line, geography and recurrence. In presenting the geographic information, revenue has been based on the geographic location of legal entity.2022NOK thousand Consulting services Recurring Revenue One-time revenue TotalNorway 140 157 149 666 15 472 305 295Europe 129 395 27 911 5 819 163 126Americas 28 902 6 917 728 36 548Total revenue 298 454 184 495 22 019 504 9692021NOK thousand Consulting services Recurring Revenue One-time revenue TotalNorway 131 872 126 924 14 877 273 672Europe 92 742 14 345 4 211 111 297Americas 23 355 4 313 1 301 28 968Total revenue 247 969 145 581 20 388 413 9382022NOK thousand Consulting services Recurring Revenue One-time revenue TotalBusiness services 196 857 66 727 1 917 265 501EA & BPM 59 512 23 995 5 402 88 909Cloud 13 966 78 095 8 170 100 230Hospitality 1 253 1 286 1 023 3 562Marine 26 866 14 401 5 506 46 773Corporate/Other 0 (8) 0 (8)Total revenue 298 454 184 495 22 019 504 9682021NOK thousand Consulting services Recurring Revenue One-time revenue TotalBusiness services 156 481 50 613 2 569 209 663EA & BPM 51 073 15 219 4 942 71 234Cloud 10 376 64 393 7 887 82 656Hospitality 0 192 905 1 097Marine 30 039 15 164 4 086 49 289Total revenue 247 969 145 581 20 388 413 938Note 6 Materials, software and servicesNOK thousand 2022 2021Hired consultans (48 851) (29 889)Hardware for resale (7 738) (8 382)Software for resale (58 212) (45 539)Other (234) (9 049)Total materials, software and services (115 035) (92 859)Note 7 PersonnelNOK thousand 2022 2021Salaries (256 568) (205 315)Social security tax (38 407) (40 413)Bonuses (6 878) (8 110)Pension costs defined contribution (Note 27) (19 337) (14 268)Other personnel cost (17 609) (4 573)Total salaries and personnel expense (338 800) (272 679)Average number of FTEs2022 2021Number os FTEs, start of year 374 171Number os FTEs, end of year 353 374Average number of FTEs 363 273Gender split, end of yearMale 233 262Female 120 112Number of FTEs, end of year, per country2022 2021Belgium 1 1Cyprus 3 3Denmark 1 1France 2 1Germany 3 5Italy 35 65Norway 204 200Netherlands 1 0Poland 7 13Singapore 2 1Spain 26 17Sweden 22 22United Kingdom 31 30USA 15 15Total number of FTEs 353 374Note 8 Key managementThe Group Management consists of the Group Directors. Group Directors are the CEO, COO, CFO, CP&OO director and CCO that are all employed by the parent company. The IT Director is employed by one of the subsidiaries.Compensation to the management during the year is detailed in the table to the right. Amounts presented are part of the remuneration for the Group management role.The Group CEO has a three-month notice period and is entitled to a severance pay for twelve months in case of termination initiated by the company. None of the Board members or the CEO have executive loans or guarantees in the company.Management remuneration 2022Audit Board committee Benefits Pension Total NOK thousandremunerationremuneration Salary Bonusin kindcostremunerationManagementGeir Johansen - CEO 0 0 2 700 0 11 90 2 800Ole Jakob Kj\u00f8lvik - COO 0 0 1 500 0 16 90 1 606Bente Brocks - CFO (interim) 0 0 1 680 0 11 90 1 781Erik Sundet - Group IT director (50% mgmt) 0 0 993 48 21 69 1 132P\u00e5l Stueflotten - CCO (from May-22) 0 0 800 0 74 56 930Solfrid Bu\u00f8 - Chief People & Organisation Officer(from Nov-22) 0 0 217 0 3 15 235Grete Thomassen - HR director (to Apr-22) 0 0 400 0 4 28 432Espen Karsrud - Group EVP Business Development (to Apr-22) 0 0 500 0 4 35 539Management total 0 0 8 790 48 144 473 9 455Members of the BoardMartin Nes (Chairman) 279 20 0 0 0 0 300\u00d8ystein S. Spetalen (Member) 217 0 0 0 0 0 217Kristin Hellebust (Member) 217 18 0 0 0 0 234Henrik Lie-Nielsen (Member) 217 18 0 0 0 0 234Linn Katrine H\u00f8ie (Member) (from May-22) 117 0 0 0 0 0 117Yvonne Litsheim Sandvold (Member) (to May-22) 100 0 0 0 0 0 100Members of the Board total 1 146 55 0 0 0 0 1 201Total salaries and personnel expense 1 146 55 8 790 48 144 473 10 656Management remuneration 2021Audit Board committee Benefits Pension Total NOK thousandremunerationremuneration Salary Bonusin kindcostremunerationManagementPer Ronny Stav - CEO 0 0 3 235 0 13 89 3 338Jhonny Sharma - COO 0 0 2 439 0 11 89 2 539Geir Johansen - CFO 0 0 2 243 0 9 89 2 341Grete Thomassen - HR director (from May 2021) 0 0 846 0 12 84 942Ole Jakob Kj\u00f8lvik - Strategy Director (from December 2021) 0 0 125 0 1 0 126Espen Karsrud - Group EVP Business Development (from November 2021) 0 0 300 0 3 0 303Else Thoresen - HR director (until March 2021) 0 0 438 0 3 22 463Management total 0 0 9 627 0 51 374 10 052Members of the BoardMartin Nes (Chairman) 267 0 0 0 0 0 267\u00d8ystein S. Spetalen (Member) 200 0 0 0 0 0 200Kristin Hellebust (Member) 150 0 0 0 0 0 150Henrik Lie-Nielsen (Member) 150 0 0 0 0 0 150Yvonne Listheim Sandvold (Member) 200 0 0 0 0 0 200Members of the Board total 967 0 0 0 0 0 967Total salaries and personnel expense 967 0 9 627 0 51 374 11 019The following remuneration has been made to the members of the nomination committee during the year:NOK thousand 2022 2021Nomination committeeEspen Lundaas (head) 40 0\u00d8ystein Tvenge (member) 0 0Total 40 0Note 9 Other operating expenseNOK thousand 2022 2021Marketing cost (4 385) (5 534) 1Rental and leasing cost(8 750) (5 971)Travel cost (7 929) (5 223)Fees for external services (29 261) (21 537)IT and communication cost (19 829) (13 237)Loss on sale of intangible fixed assets (4 241) 0 2Other operating cost(10 846) (3 697)Total operating expenses (85 241) (55 201)1 Includes common cost related to premises, such as electricity, cleaning, moving cost and contracts not material to IFRS162 Includes coursing, respresentation cost, mobile useage for emplyees, insurance premiums and other office expenseNOK thousand 2022 2021Specification of auditor\u2019s feeStatutory audit (2 988) (1 107)Other assurance services (62) (749)Other non-assurance services (306) 0Total (3 355) (1 857)Note 10 Property, plant and equipment2022Fixtures and NOK thousand Office equipmentfittings Other TotalCost at 1 Jan 2022 18 819 3 572 1 239 23 631Additions 788 1 147 29 1 964Reclassifications (2 468) 267 757 (1 444)Sale (370) (14) (160) (545)Disposals (426) 0 (117) (543)Translation difference 442 56 89 587Cost, end of period 16 785 5 028 1 837 23 650Accumulated depreciation at 1 January 2022 (13 943) (1 463) (779) (16 185)Depreciation during the year (1 634) (701) (170) (2 505)Reclassifications 1 511 (143) (145) 1 224Sale 294 5 132 431Disposals 335 (0) 45 381Translation difference (405) (30) (43) (478)Accumulated depreciation, end of period (13 842) (2 331) (959) (17 133)Carrying amount at 31 Dec 2022 2 942 2 697 877 6 517Useful life 5-10 yrs 5 yrs 5 yrs2021Fixtures and NOK thousand Office equipmentfittings Other TotalCost at 1 January 2021 9 367 748 0 10 114Additions 2 760 626 58 3 443 1From business combinations8 399 1 175 1 792 11 366Reclassifications (1 573) 1 286 287 0Disposals (331) (352) (905) (1 588)Translation difference 198 89 8 295Cost, end of period 18 819 3 572 1 239 23 631Accumulated depreciation at 1 January 2021 (6 707) (150) 0 (6 857) 1From business combinations(7 086) (252) (1 253) (8 591)Depreciation during the year (1 510) (523) (186) (2 219)Reclassifications 953 (861) (92) 0Disposals 302 352 768 1 422Translation difference 105 (30) (15) 59Accumulated depreciation, end of period (13 943) (1 463) (779) (16 185)Carrying amount at 31 Dec 2021 4 876 2 109 460 7 445Useful life 5-10 yrs 5 yrs 5 yrs1 Ref Note 18, Business combinationsNote 11 Right-of-use assets and lease liabilitiesRight-of-use assetsNOK thousand Buildings Vehicles Hardware Other TotalRight-of-use assets per 1 Jan 2021 15 867 143 0 4 757 20 768Addition of right-of-use assets 9 446 678 4 560 7 817 22 501Depreciation in the period (6 833) (233) (1 421) (4 170) (12 656)Reclassification 0 (143) 0 143 0Translation difference (331) (16) 0 0 (347)Right-of-use assets per 1 Jan 2022 18 149 430 3 139 8 548 30 266Addition of right-of-use assets 18 336 0 37 9 836 28 209Depreciation in the period (10 791) (345) (1 561) (4 518) (17 215)Reclassification between categories 6 631 1 191 (6 822) 0Translation difference 447 3 9 0 459Carrying amount of right-of-use assets, end of period 32 773 89 1 814 7 043 41 719Remaining lease term 1-5 years 1-4 years 1-3 years 1-3 yearsDepreciation method Linear Linear Linear LinearContracts not material to IFRS 16 are expensed in P&L as they occur. See Note 2.14 for more information of contracts classified as leasing contracts.Lease liabilitiesNOK thousand 31 Dec 2022Undiscounted lease liabilities and maturity of cash outflow< 1 year 17 7821-2 years 12 4352-3 years 8 3063-4 years 4 8114-5 years 1 566> 5 years 621Total undiscounted lease liabilities, end of period 45 521Discount element (2 028)Total discounted lease liabilities, end of period 43 492NOK thousand 2022 2021Total lease liabilities, end of period 43 492 31 494The interest rate used for discounting the lease liability is based on the same as according to the terms of interest rate from the Group\u2019s external financing. See Note 13 for interest expense related to leasing contracts.Note 12 Intangible assets2022Other intangible Other intangible Other intangible assets; assets; assets; NOK thousand Goodwill Customer relationsCustom softwareTechnical softwareLicenses TotalCost at 1 Jan 2022 205 279 57 526 29 975 54 353 4 979 352 112Additions 0 0 887 0 1 240 2 127Additions - internally developed 0 0 11 755 0 0 11 755Less government grants 0 0 (1 006) 0 0 (1 006) 1Reclassifications0 (691) 44 003 (32 619) 1 551 12 244Sale of asset (910) 0 0 (9 202) 0 (10 113)Disposals 0 0 (35 302) 0 0 (35 302)Translation difference 213 (36) 1 570 1 122 (17) 2 852Cost, end of period 204 581 56 799 51 883 13 654 7 752 334 669Accumulated amortizations at 1 Jan 2022 0 (11 495) (10 093) (13 523) (643) (35 755)Amortization 0 (11 360) (13 962) (3 887) (1 689) (30 898)Impairment 0 0 (5 606) 0 0 (5 606) 1Reclassifications0 691 (19 283) 7 614 (1 054) (12 032)Sale of asset 0 0 0 3 527 0 3 527Disposals 0 0 28 408 0 0 28 408Translation difference 0 2 (754) (416) 6 (1 163)Accumulated amortization and impairment, end of period 0 (22 162) (21 290) (6 684) (3 381) (53 517)Carrying amount at 31 Dec 2022 204 581 34 637 30 593 6 969 4 372 281 152Useful life Infinite 5 yrs 5\u201310 yrs 5 yrs 3\u201310 yrs1 Reclassifications made between categoriesThe development expenditures that do not meet the criteria for capitalization are recognized as salary and personnel expenses and other operating expenses in profit and loss. The Group has received government grants related to development of software of NOK 1.0m (NOK 1.4m). The grants have been subtracted from the carrying amount of internally generated software.Impairment of custom software of NOK 5.6m and relates to:Restructuring of different IP in Marine Italy of 3.4m, impairment of excessed value in connection with the closing of business in Germany of NOK 0.9m, Closing of product lines like Certify in Hospitality NOK 0.8m and other add-on products of NOK 0.5m.In December, BA Marine divested certain software IP and associated assets together with twelve employees. The effect from the sale and the de-recognition of the assets ended with a loss from sale of NOK 4m and positive cash flow of NOK 9.3m. The effect is presented in Other operating cost in statement of Profit and Loss.Referring to PPA (Purchase Price Allocation) from business combina-tion Note 17. For Impairment testing on Goodwill, see Note 16.2021Other intangible Other intangible Other intangible assets; assets; assets; NOK thousand Goodwill Customer relationsCustom softwareTechnical softwareLicenses TotalCost at 1 Jan 2021 93 827 15 529 12 568 1 000 10 018 132 942Adjustment of opening balance 0 700 (700) 0 0 0Additions 0 0 826 153 4 876 5 855Additions - internally developed 0 0 10 316 9 390 0 19 706 1 From business combinations111 282 40 972 1 116 42 167 0 195 537Reclassifications 0 0 6 613 3 773 (10 386) 0Less government grants 0 0 (725) (713) 0 (1 438)Translation difference 170 325 (39) (1 416) 470 (489)Cost, end of period 205 279 57 526 29 975 54 353 4 979 352 112Accumulated amortizations at 1 Jan 2021 0 (3 084) (1 807) (667) (2 102) (7 660)Amortization 0 (8 411) (3 091) (11 335) (1 898) (24 735)Reclassifications 0 0 (1 836) (1 521) 3 357 0Impairment 0 0 (3 359) 0 0 (3 359)Accumulated amortization and impairment, end of period 0 (11 495) (10 093) (13 523) (643) (35 755)Carrying amount at 31 Dec 2021 205 279 46 031 19 882 40 830 4 336 316 358Useful life Infinite 5 yrs 5\u201310 yrs 5 yrs 3\u201310 yrs1 Ref Note 8, Business combinationsNote 13 Financial itemsFinance incomeNOK thousand 2022 2021Interest income 291 259Realized foreign exchange gains 2 153 2 193Net unrealized foreign exchange gains 1 522 0Other financial income 1 225 146Total financial income 5 191 2 598Finance expensesNOK thousand 2022 2021Interest on debts and borrowings (697) (1 872)Interest expense on lease liabilities (1 236) (1 079)Realized foreign exchange losses (1 998) (1 821)Net unrealized foreign exchange losses 0 (979)Other financial expenses (1 350) (736)Total financial expenses (5 280) (6 487)Net financial items (89) (3 890)Note 14 TaxIncome tax expenseNOK thousand 2022 2021Current taxCurrent Income Tax - Norway 889 1 741Current Income Tax - Other countries 1 539 398Correction previous year - other countries 968 0Deferred taxChange in deferred taxes - Norway (7 653) (6 963)Change in deferred taxes - Other countries (2 778) 23Tax expense (+) / income (-) (7 035) (4 802)A reconciliation of the effective tax rateProfit/(loss) before tax (90 428) (53 660)Adjustment of current income tax of previous years (50) 61Changes in unrecognized deferred tax asset (if applicable) 66 974 41 875Temporary differences 690 2 417Non deductible expenses 37 375 (2 906)Non-taxable income (916) 4 279Tax base 13 643 (7 933)Income taxes calculated at the Conpany's domestic tax rate (22%) 3 002 (1 745)Tax previous year 968 19Changes in recognized deferred taxes (10 431) (6 940)Different tax rates applied in foreign jurisdictions (573) 3 865Tax expense (+) / income (-) at effective tax rate (7 035) (4 802)NOK thousand 2022 2021Effective tax rate 7.8% 8.9%Tax rate Norway 22.0% 22.0%Deferred taxesProperty, plant and equipment 4 544 2 689Receivable 91 (35)Tax losses carried forward 9 256 5 824Other provisions 0 (2 675)Leases 110 0Intangible assets (11 413) 0Deferred tax on intangible assets from business combinations (857) (13 375)Deferred taxes, net 1 732 (7 572)Deferred taxes, capitalized 1 732 (7 572)Deferred taxes, not capitalized 30 260 19 755Reconciliation to balance sheetDeferred tax assets 12 322 9 511Deferred tax liabilities (10 590) (17 084)Net Deferred tax assets (liabilities) 1 732 (7 572)Note 15 Earnings per shareBasic earnings per share (EPS) are calculated by dividing the profit attributable to equity holders of the Company by the weighted average number of ordinary shares in Issue during the year according to the following number of outstanding shares.Issued shares and share capitalNumber Share Capital of shares (NOK)1 January 2022 584 903 064 163 772 858Capital issue, April 100 000 000 28 000 000Share issue, repair offer, July 3 625 153 1 015 043Capital issue in relation to acq. of Integra, Nov 2 045 000 572 60031 December 2022 690 573 217 193 360 501Diluted EPS amounts are calculated by dividing the profit attributable to ordinary equity holders of the Company by weighted average number of ordinary shares outstanding during the year plus the weighted average number of ordinary shares that would be Issued on conversion of all the dilutive potential ordinary shares into ordinary shares.The following reflects the Income and share data used in the basic and diluted EPS calculations:NOK 2022 2021Net profit/(loss) to equity holders (83 393 192) (48 857 904)Total (83 393 192) (48 857 904)Number of shares (in thousands)Weighted average number of ordinary shares 658 988 513 489 277 730Effects of dilution, weighted average 5 663 984 91 776 213Weighted average number of shares, adjusted for effects of dilution 664 652 497 581 053 943Basic earnings per share (0.13) (0.10) 1Diluted earnings per share(0.13) (0.10)1 If Net loss, EPS per Basic and Diliuted share will be equalIn 2021, the remaining obligation for share consideration for Qualisoft AS and Maksit was issued, only the weighted dilution persisted. These are all settled at end of 2022.In 2022, only parts of the original share consideration is included as dilution. Parts of the share consideration for Integra is still outstanding. This is to be settled during 2023.Effects of dilutionNOK 2022 2021Redemption shares to minority shareholdes of Arribatec AS 0 85 130 804Share consideration outstanding Qualisoft 0 2 876 712Share consideration outstanding Maksit 0 2 465 753Share consideration outstanding Integra 5 663 984 1 302 943Note 16 Goodwill and impairmentGoodwill and intangible assets stated in the consolidated financial position are mainly derived from excess value following the acqui-sitions of Instidata AS in 2019, Facil AS, Microsky AS and Innit AS in 2020 and Maksit AS, Qualisoft AS, IB Group and Integra Ass. Ltd in 2021. Recognized goodwill amounts to NOK 204.6m as of 31 December 2022 (NOK 205.3m). Other intangible assets related to excess values in the Group accounts are customer relations and soft-ware, with a carrying amount of NOK 45.3 million as per 31 December 2022 (NOK 62.3m).Only goodwill has an indefinite lifetime, all other intangible assets are amortized, ref Note 12.Goodwill is tested for impairment for each cash generating unit (CGU) prior to preparation of the annual accounts. The test is performed annually, and when there are indications of impairment. There were no impairment indications in the impairment test 2022 where recoverable amounts exceeded the balance sheet amounts, thus no impairment has been done in 2022.The recoverable amount for each CGU has been determined esti-mating their Value in Use (VIU) and comparing that to the carrying amount of the specific CGU. The calculation of VIU has been based on mstimate, reflecting the Grou\u2019\u2019s financial planning process. The discount rates are derived as the weighted average cost of capital (WACC) for a similar business in the same business environment.Goodwill has been allocated for impairment testing purposes to the CGUs below.NOK thousand Cloud BizS Marine Hospitality EA&BPM TotalNorway 56 622 35 585 0 24 416 66 361 182 984UK 0 17 398 0 0 0 17 398Italy 0 0 4 199 0 0 4 199Total 56 622 52 983 4 199 24 416 66 361 204 581Cash flow projections and assumptionsA five-year forecast of discounted cash flows plus a 2.0% terminal value growth rate was used to determine net present value of the CGU. Discounted cash flows were calculated after tax and applying a WACC after tax. Estimated cash flow covering the period 2023-2027 consists of estimates for 2023 and beyond. Key assumptions for the value in use calculationsThe basis for the projection of the future cash flows estimated is based on the financial budget of one year, approved by the Board of Directors. The budget in combination with the forecasts represent management\u2019s best estimate of the range of economic conditions that will exist over the remaining useful life of the asset. The remaining four years of the forecast period are estimated based on budget and projected performance. The calculation of VIU for the CGU is most of all sensitive when it comes to the following assumptions:Discount rateThe input data for the WACC is gathered from external sources.2022 2021Norway UK Italy AllRisk free interest rate 3.1% 3.3% 4.2% 3%Debt risk premium 6.6% 6.6% 6.6% 3%Equity risk premium 5.9% 5.9% 5.9% 4%Equity Beta 1.37 1.37 1.37 1.61Cost of equity 11.2% 11.2% 11.2% 9.4%Tax rate 22% 19% 29% 22%After tax cost debt 7.6% 7.7% 8.0% 4.7%Equity weight 90% 90% 90% 90%WACC (pre tax) 13.8% 14.0% 16.6% 9.0%The average growth rate and EBITDA margin assumptions are based on historical experience and performance as well as market analysis used for budget 2023 and estimates from 2024-2026 and a terminal growth rate of 2%. The average growth rates in the period for each CGU is: 1Hospitality 2Cloud BizS MarineEA&BPMAverage revenue growth 16% 9% 0% 196% 16%Average EBITDA margin 7% 15% 18% 41% 19%1 The restructuring and sales of IP in the Marine CGU from 2022 to 2023 effect the average growth rates 2 CGU Hospitality will until Q2 2023 go from a start up to become a mature profit making unit, thus impact on the growth rates seems unnaturalNote 17 Business combinationsDuring 2022, Arribatec did not acquire any shares in companies. During 2021, Arribatec acquired shares in the companies mentioned below and consequently controls the subsidiaries from the date of acquisition. In the purchase price allocations (PPA), the assets and liabilities of the companies have been measured at the estimated fair value on the acquisition date.The purchase price allocation identified fair value adjustments on Intangible assets like customer relations and software and deferred tax liabilities/assets. The residual value of the purchase price alloca-tion is allocated to goodwill. Arribatec acquired five companies during 2021 within IT and operation technology. The acquisitions are carried out in line with Arribatec\u2019s strategy.The labor force and \u201cgoing concern\u2019\u2019 elements are the main part of the acquired excess value and has been allocated to goodwill in accord-ance with IFRS 3. Goodwill in relation to the acquisition is related to different CGU\u2019s as according to Note 16. The final PPAs (Purchase price allocation) are shown below.2021NOK thousand Maksit Qualisoft IB Group Infoship IntegraDate of acquisition 18 Feb 2021 23 Feb 2021 20 Jan 2021 01 Apr 2021 11 Oct 2021Acquired part of Company 100% 100% 100% 100% 100%Purchase price 35 987 85 605 20 830 258 36 268whereof Cash consideration 25 787 54 855 20 830 258 16 569whereof Share consideration 10 200 30 750 0 0 2 863An earn-out component is included in the purchase price amounting to: 0 0 0 0 16 836Fair value of assets and liabilities on acquisitionASSETSNon-current assetsProperty, plant and equipment 101 457 1 114 142 940Goodwill 22 541 66 361 5 025 9 17 091Customer Relationship 9 234 15 128 0 0 16 610Software 0 0 43 282 143 0Other intangible fixed assets 0 0 22 034 0 0Deferred tax assets 0 0 71 0 0Other long term assets0 0 0 0 0Total non-current assets 31 876 81 946 71 527 294 34 6402021NOK thousand Maksit Qualisoft IB Group Infoship IntegraCurrent assetsTrade receivables 3 675 21 856 3 060 240 7 648Other current assets 263 7 218 1 202 31 462Contract assets (earned, not invoiced) 0 656 748 0 930Cash & cash equivalents 7 331 10 937 2 446 1 253 7 890Total current assets 11 269 40 667 7 457 1 524 16 930Total Assets 43 145 122 613 78 985 1 817 51 570Non-current liabilitiesLong term interest bearing debt 0 0 16 227 0 0Deferred tax liabilities 2 032 3 328 7 127 0 3 126Other long-term liabilities & provisions 0 0 14 472 1 549 1 101Total non-current liabilities 2 032 3 328 37 825 1 549 4 228Current liabilitiesTrade payables 613 1 871 6 287 0 1 747Tax liabilities 520 0 0 0 (443)Current Contract liabilities (deferred revenue) 0 10 942 737 0 0Other short term liabilities 3 621 20 867 13 306 10 9 771Accrued expenses and prepaid income 372 0 0 0 0Total current liabilities 5 126 33 680 20 330 10 11 075Total Net assets 35 987 85 605 20 830 258 36 268InfoNet Sales full year Merged 78 309 45 167 2 280 46 556Profit /Loss full year Merged 7 964 (17 838) (2 147) (2 870)Net Sales full year (Arribatec ownership period) Merged 72 967 45 167 2 280 13 053Profit /Loss full year (Arribatec ownership period) Merged 7 309 (17 838) (2 147) (133)Note 18 Investment in subsidiariesNOK thousandYear of acquisition/ Profit after Total Equity Profit after Total Equity Subsidiary Ownershipfoundationtax 202231.12.2022tax 202131.12.2021Arribatec Group ASA 100% 2015 (43 009) 338 909 (16 200) 331 154 1Arribatec Norge AS100% 2017 (611) 6 696 823 8 628Arribatec Hospitality AS 100% 2019 (10 130) 5 498 (7 724) 8 156 2Arribatec Cloud AS100% 2020 3 839 9 686 940 5 954 1Innit Utvikling AS100% 2020 na na 1 298 2 253 2Microsky AS100% 2020 na na 613 1 850Arribatec EA & BPM AS 100% 2021 1 889 2 292 7 309 5 776Arribatec Sverige AB 100% 2016 (1 948) 480 (4 453) 669Arribatec Denmark ApS 100% 2015 415 1 781 447 1 301Arribatec Innovation Sp. z o.o. 100% 2018 672 1 108 636 439Arribatec Belgium NV 100% 2018 769 2 444 547 1 535Arribatec Italy S.r.l. 100% 2018 (637) 14 867 (406) 15 476Arribatec Iberia SL 100% 2017 (874) 4 115 2 289 4 374Arribatec Americas Inc 100% 2018 2 732 10 552 2 899 7 015Arribatec Hospitality LLC 100% 2018 (1 037) (2 214) (922) (1 024)IB S.r.l. 100% 2021 (20 602) (28 639) (18 876) (4 774) 3IB Digital Ship S.r.l.100% 2021 na na 23 241IB Cyprus LTD 100% 2021 59 4 350 160 4 057IB USA Inc 100% 2021 1 239 270 855 (1 060)Arribatec Solutions UK LTD 100% 2018 (712) (2 593) (1 757) (1 893)Integra Associates Ltd. 100% 2021 (590) 5 848 (134) 6 619Infoship GmbH 100% 2021 (1 928) (3 966) (2 147) (1 870)Arribatec France Sarl 100% 2021 (7) (0) (188) (87)Arribatec Solutions Trading Ltd 100% 2021 (1 956) (2 869) (358) (363)All entities listed are included in the consolidated financial statements of Arribatec Group ASA.During 2022, Innit Utvikling AS was merged into Arribatec Norge AS, Microsky AS was merged into Arribatec Cloud AS and IB Digital Ship S.r.l. was merged into IB S.r.l.Arribatec Group ASA are holding direct ownership of most entities. Arribatec Americas INC and Arribatec Americas LLC are both subsid-iaries of Arribatec Denmark Aps. The IB Group is owned by Arribatec Italy S.r.l.1 Innit Utvikliing AS was merged into Arribatec Norge AS in 20222 Microsky AS was merged into Arribatec Cloud AS in 20223 IB Digital Ship S.r.l. was merged into IB S.r.l in 2022Note 19 Other non-current assetsNOK thousand 2022 2021Investment in shares 60 60Bond notes in Italy 0 9 836Deposits 5 263 664Other 0 118Total other non-current assets 5 323 10 678Note 20 Account receivablewhereof estimated NOK thousand Current 0-30 days 31-60 days 61-90 days 90+days Totalcredit lossesAgeing, Accounts receivable2022 60 600 17 022 5 200 2 984 2 409 88 214 (2 994)2021 49 285 23 200 5 819 7 004 3 366 88 674 (570)Provision for Expected Credit Losses (ECL) are included with NOK 3.0m (NOK 570k). The provision is based on a valuation per subsidiary at year end based on general assumptions as well as agreements with customers and payments made in next year.Accounts receivables are non-interest bearing. See Note 2 for a description of allowance for expected credit losses. Note 3 provides a description of the Group\u2019s credit risk management.Note 21 Financial instrumentsSet out below is a comparison by class of carrying amounts and fair values of all financial instruments that are carried in the financial statements.The financial assets principally consist of cash and cash equivalents obtained through the operating business. The financial liabilities principally consist of trade and other payables arising directly from its operations. The fair value of the financial assets and liabilities are included at the amount at which the instrument could be exchanged in a current transaction between willing parties, other than in a forced or liquidation sale.The Group uses the following hierarchy for determining and disclosing the fair value of financial instruments by valuation technique:Level 1: The fair value of financial instruments traded in active markets is based on quoted market pricesLevel 2: The fair value of financial instruments that are not traded in an active market is determined using valuation techniques which maximize the use of observable market price and rely as little as possible on entity-specific estimates. If all significant Inputs require to fair value an Instrument are observable.Level 3: techniques that use inputs that have a significant effect on the recorded fair value that are not based on observable market data.Carrying amount Fair valueFair value Amortized through profit NOK thousandcostand loss Total Level 1 Level 2 Level 3 Total31 Dec 2022Financial assets 1Investment in shares0 60 60 0 0 60 60Accounts receivable 88 214 0 88 214 0 0 88 214 88 214Deposits related to premises 5 263 0 5 263 5 263 5 263Other receivables 1 128 0 1 128 0 0 1 128 1 128Total financial assets 94 605 60 94 665 0 0 94 665 94 665Financial liabilitiesNon-current lease liabilities 26 727 0 26 727 0 0 26 727 26 727Other non-current financial liabilities 967 0 967 0 0 967 967Current lease liabilities 16 765 0 16 765 0 0 16 765 16 765Accounts payable 31 879 0 31 879 0 0 31 879 31 879Contract liabilities 16 476 0 16 476 0 0 16 476 16 476Current tax payable 650 0 650 0 0 650 650Other current liabilities 83 969 0 83 969 0 0 83 969 83 969Interest bearing loan 31 211 0 31 211 0 0 31 211 31 211Total financial liabilities 192 167 0 192 167 0 0 192 167 192 167Carrying amount Fair valueFair value Amortized through profit NOK thousandcostand loss Total Level 1 Level 2 Level 3 Total31 Dec 2021Financial assets 1Investment in shares0 60 60 0 0 60 60 Accounts receivable and other receivables 90 964 0 90 964 0 0 90 964 90 964 Total financial assets 90 964 60 91 024 0 0 91 024 91 024 Financial liabilities 2Accounts payable and other payables166 643 0 166 643 0 0 166 643 166 643Interest bearing loan 37 425 0 37 425 0 0 37 425 37 425Total financial liabilities 204 067 0 204 067 0 0 204 067 204 0671 Investment in shares is classified as Other non-current assets2 Consists of lease liabilites, other non-current financial liabilities, accounts payable, contract liabilities, current tax payable and other current liabilitiesNote 22 Other receivables and other current assetsNOK thousand 2022 2021Government receivables 4 317 4 189Prepaid cost 13 648 9 689Other current assets 1 647 8 732Total other non-current assets 19 612 22 610Note 23 Contract assets and liabilitiesContract assetsContract assets are recognized for performance obligations satisfied over time, mainly from installation services and projects where progress is measured over time. When the consideration becomes uncondi-tional the contract assets are reclassified to accounts receivables, which attributes the main changes to the contract assets in the periods.Contract assets will typical insure in Solassa/Saas project were the customer pays a fixed annual or monthly fee over 3-5 years and this also includes payment for the implementation and integration services. In such cases revenue are recognized at the time were performance obligations are meet and registered as a contract assets. A reclassification is done when the customer is invoiced, ref Note 2.6.NOK thousand 2022 2021As of 1 January 19 549 12 387Performance obligations met 36 572 20 676Reclassified to receivables (40 272) (16 006)From business combinations 0 2 335Translation difference 427 157Total contract assets 16 276 19 549It is expected that 72% of the above contract assets will be reversed in 2023, 20% in 2024 followed by 6% in 2025 and the remaining 2% in 2026.The expected credit losses on Contracts assets are considered immaterial as the contracts are mainly with governmental parties and therefore secured. Contracts are subject to valuation of credit losses in same way as Accounts receivable.Contract liabilitiesContract liabilities relates to consideration received in advance of performance under revenue contracts with customers. Revenue is recognized as (or when) the Group fulfils its performance obligation(s) under the contracts.Contract liabilities are presented in the table below:NOK thousand 2022 2021As of 1 January 21 483 1 283Deferred revenue 68 627 38 779Recognized as revenue in P&L (73 811) (30 256)From business combinations 0 11 679Translation difference 177 (2)Total contract liabilities 16 476 21 483Contract liabilities are mainly invoiced to customers in advance and relating to 2023. All liabilities per 1 January was recognized as revenue in P&L during the year.Note 24 InventoryNOK thousand 2022 2021Hardware for resale 900 324Licenses for resale 2 877 2 855Total other non-current assets 3 777 3 179Note 25 CashNOK thousand 2022 2021Cash, free 26 956 31 948Cash, restricted 13 492 11 810Total cash and cash equivalents 40 449 43 758Note 26 SharesIssued shares and share capitalNumber of Share Capital shares (NOK)1 January 2020 16 077 403 16 077 403Capital issue, Jan 7 164 688 7 164 688Capital issue, Mar 41 666 666 41 666 666Capital issue, Mar 25 000 000 25 000 000Capital decrease, Nov (64 734 305)New shares, Oct 235 819 574 66 029 481Share issue, repair offer, Nov 32 855 000 9 199 400Share issue, employee offer, Nov 10 000 000 2 800 000Share issue, private placement, Dec 50 000 000 14 000 0001 January 2021 418 583 331 117 203 333Capital issue in relation to acq. of Facil, Jan 12 423 200 3 478 496Capital issue in relation to acq. of Microsky, Feb 3 499 998 979 999Capital issue in relation to acq. of Innit, Mar 5 606 400 1 569 792Capital issue in relation to acq. of Qualisoft, May 15 000 000 4 200 000Capital issue in relation to acq. of Maksit, Aug 5 000 000 1 400 000Capital issue in relation to merger with Arribatec AS, Sep 124 790 135 34 941 23831 December 2021 584 903 064 163 772 858Capital issue, April 100 000 000 28 000 000Share issue, repair offer, July 3 625 153 1 015 043Capital issue in relation to acq. of Integra, Nov 2 045 000 572 60031 December 2022 690 573 217 193 360 501Each share has the same rights and has a par value of NOK 0.28.20 largest shareholders at 31 Dec 2022Holding StakeFERNCLIFF LISTED DAI AS 166 554 032 24.1%ARRIBA INVEST AS 53 200 000 7.7%DALLAS ASSET MANAGEMENT AS 24 598 694 3.6%JOAR AARENES 24 111 850 3.5%TORSTEIN INGVALD TVENGE 21 000 000 3.0%NORDNET BANK AB 18 656 529 2.7%SRK CONSULTING AS 17 809 464 2.6%ERIK SKAAR OPDAL 16 952 000 2.5%TRUDE HALVORSEN 10 797 884 1.6%HANEKAMB INVEST AS 10 553 463 1.5%DATUM AS 8 542 908 1.2%MIDDELBOE AS 7 011 150 1.0%NORSK REGNESENTRAL 6 770 735 1.0%DANSKE BANK A/S 6 128 767 0.9%LARS HUGO BRAADLAND OLSEN 5 748 500 0.8%LCS AS 5 518 001 0.8%JAN ARNE CHRISTENSEN 5 156 750 0.7%NORDNET LIVSFORSIKRING AS 5 152 005 0.7%VALSET INVEST AS 4 500 000 0.7%FAISAL BAIG 4 207 000 0.6%Total 20 largest shareholders 422 969 732 61.2%Other shareholders 267 603 485 38.8%Total 690 573 217 100.0%Shares held by related parties Holding Stake FERNCLIFF LISTED DAI AS 166 554 032 24.1% Related to \u00d8ystein S. Spetalen, Member of the Board in Arribatec Group ASA HANEKAMB INVEST AS 10 553 463 1.5% Related to Martin Nes, Chairman of the Board in Arribatec Group ASA FINANCE RESOURCES GJ AS 3 606 084 0.5% Related to Geir Johansen, CEO of Arribatec Group ASA REAKTOR RETURNS AS 1 738 830 0.3% Related to Henrik Lie-Nielsen, Member of the Board in Arribatec Group ASA KJ\u00d8LVIK INVEST AS 583 334 0.1% Related to Ole-Jakob Kj\u00f8lvik, COO of Arribatec Group ASA SICUBI AS 240 712 0.0% Related to Bente Brocks, CFO (interim) of Arribatec Group ASA HELLEBUST, KRISTIN 227 272 0.0% Related to Kristin Hellebust, Member of the Board in Arribatec Group ASA Note 27 Interest bearing loansNOK thousandDebt financial institutions Type Currency Facility limit Interest rate Year of maturity 31 Dec 2022 31 Dec 2021Danske Bank Revolving credit facility NOK 20 000 NIBOR+2.75% 2023 6 750 0DNB Revolving credit facility NOK 7 000 6.15% 2022 0 5 710DNB Unsecured bank loan NOK 4.65% 2023 0 185DLL Leasing & finance company NOK 4.5% 2024 244 493The Norwegian Research Council Governmental NOK 3.35% 2022 0 188Bank Intesa, Italy Unsecured bank facilities EUR EURIBOR+1.95%-2.40%2027 8 411 9 824Bank Progetto, Italy Unsecured bank loan EUR EURIBOR+5% 2025 5 759 7 236Bank Carige, Italy Unsecured bank loan EUR 1.3% 2027 6 863 7 478Bank Passadore, Italy Unsecured bank loan EUR EURIBOR+1.5% 2028 3 154 2 991Italian banks, ref above Revolving credit facility EUR 1.0-4.75% 2023 29 3 320Total 31 211 37 425Credit facilities Other borrowings TotalBalance at 1 Jan 2022 9 030 28 394 37 425Proceeds from loans and borrowings 4 067 0 4 067Repayment of loans and borrowings (6 499) (5 464) (11 963)Total changes in financial cashflow (2 432) (5 464) (7 896)Translation difference 181 1 501 1 682Total Borrowings at end of period 6 779 24 431 31 211Note 28 PensionsArribatec group meets the different local mandatory occupational pension requirement.Arribatec operates defined contribution retirement benefit plans for all qualifying employees of its subsidiaries in Norway, Sweden and Denmark. The only obligation of the group with respect to retirement benefit plan is to make the specified contributions.The employees of other subsidiaries are member of a state managed retirement benefit plan operated by the government. The subsidiaries are required to contribute a specified percentage of payroll costs to the retirement benefit scheme to fund the benefits.Note 29 ProvisionsNOK thousand 2022 2021Severance indemnity funds in Italy 10 364 9 586Non-current part of Integra earn-out estimate 0 9 541Other provisions 3 838 3 661Total provision 14 202 22 789Note 30 Other current liabilitiesNOK thousand 2022 2021Employer tax and employee withholding tax 22 700 16 172Accrued holiday payments and bonuses 31 987 31 337VAT liabilities 10 121 6 748Severance payments 0 3 069Remaining part of acq.price, Integra 8 569 10 786Other short term liabilities 10 591 14 768Total other current liabilities 83 969 82 880Note 31 Transactions with related partiesNo transactions with related parties during 2022. During 2021, the following transactions were approved by the General meeting in Arribatec Group ASA 20 November in 2020. Ferncliff is a related party to Tycoon Industrier AS, related to \u00d8ystein S. Spetalen, Member of the Board in Arribatec Group ASA.NOK thousand 2022 2021Transactions with related partiesFerncliff AS - Fee for CEO and CFO for hire 0 562Total Related parties transactions 0 562Note 32 Pledged assetsThe Group have no pledged assets.Note 33 Subsequent eventsSubsequent to 31 December 2022, the following highlights has occurred:1 February, Arribatec announced a proposal of a reverse share split of the Company\u2019s shares in the ratio of 10:1 to meet Oslo B\u00f8rs\u2019 requirements of a minimum share value of NOK 1 per share.",
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"value": "public limited liability company",
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"value": "Norway",
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"value": "L\u00f8renfaret 1B, NO-0585 Oslo",
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"language": "en",
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"value": "Oslo",
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"value": "Oslo",
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"value": "The principal activities of the company and its subsidiaries (the Group) are to be a software and consulting company.",
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"value": "The Annual Report and Parent Company Report for Arribatec Group ASA (publ) were adopted by the Board of Directors on 26 April 2023 and will be submitted for approval to the Annual General Meeting 24.05.2023.",
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"language": "en",
"entity": "scheme:5967007LIEEXZXFK0040",
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"s7_notes__6__16": {
"value": "Note 2 Summary of significant Accounting Policies2.1 Basis for preparationThe financial accounts for Arribatec Group ASA as \u201cthe Parent company\u201d together with its controlled subsidiaries, together called \u201cthe Group\u201d have been prepared in accordance with International Financial Reporting Standards as adopted by the EU (IFRS), relevant interpretations, and the Norwegian Accounting Act. The consolidated financial statements have been prepared on a historical cost basis, except where IFRS explicitly requires use of other values. As the Parent company has NOK as its functional currency, the financial accounts are presented in NOK.2.2 Basis of consolidationThe consolidated financial statements comprise the financial state-ments of the Parent Company and its subsidiaries as of 31 December 2022.Control is established when the Parent Company is exposed to, or has rights to, variable returns from its involvement with the entity and has the ability to affect those returns through its power over the entity.Business combinations are accounted for by using the acquisition method. Consolidation of a subsidiary begins when the Group obtains control over the subsidiary and ceases when the Group loses control of the subsidiary. Where necessary, adjustments are made to the financial statements of subsidiaries to bring the accounting policies used into line with the Group\u2019s accounting policies.There is a presumption that if the Group has the majority of the voting rights in an entity, the entity is considered as a subsidiary. To support this presumption and when the Group has less than a majority of the voting or similar rights of an investee, the Group considers all relevant facts and circumstances in assessing whether it has power over the entity. Including ownership interests, voting rights, ownership struc-ture and relative power, as well as options controlled by the Group and shareholder\u2019s agreement or other contractual agreements.The assessments are done for each individual investment. The Group re-assesses whether it controls an entity if facts and circumstances indicate that there are changes to one or more of the three elements of control.Intercompany transactions, balances and unrealized gains on trans-actions between group companies are eliminated. Unrealized losses are also eliminated unless the transaction provides evidence of an impairment of the transferred asset.Profit or loss and each component of other comprehensive income (OCI) are attributed to the equity holders of the Parent Company.2.3 Loss of controlIf the Group loses control over a subsidiary, it derecognizes the related assets (including goodwill), liabilities, non-controlling interest and other components of equity, while any resultant gain or loss is recognized in profit or loss. Any investment retained is recognized at fair value. A change in the ownership interest of a subsidiary, without a loss of control, is accounted for as an equity transaction.2.4 Functional currencies and presentation currencyThe financial statements are presented in NOK, which is the functional currency of the Parent company, as well as being the presentation currency for the Group. For the purpose of presenting this consolidated financial statement, the assets and liabilities of the Group\u2019s non-NOK operations are translated into NOK using exchange rates prevailing at the end of the reporting period. Income and expense items are translated at the average exchange rates for the year. All group transactions and group unsettled matters, and profit and losses for transactions between group companies that are put into effect, are eliminated at the consolidation.2.5 Business combinations and goodwillBusiness combinations are accounted for using the acquisition accounting method. Acquisition costs incurred are expensed and included in operating expenses. When the Group acquires a business, it assesses the identifiable assets acquired and liabilities assumed for appropriate classification and designation in accordance with the contractual terms, economic circumstances and relevant conditions as at the acquisition date. The acquirer\u2019s identifiable assets, liabilities and contingent liabilities that meet the conditions for recognition are recognized at their fair values at the acquisition date, except for non-current assets that are classified as held for sale and recognized at fair value less cost to sell, and deferred tax assets and liabilities which are recognized at nominal value.Goodwill arising on acquisition is recognized as an asset measured at the excess of the sum of the consideration transferred, the fair value of any previously held equity interests and the amount of any non-controlling interests in the acquire over the net amounts of the identifiable assets acquired and the liabilities assumed. If, after reas-sessment, the Group\u2019s interest in the net fair value of the acquirer\u2019s identifiable assets, liabilities and contingent liabilities exceeds the total consideration of the business combination, the excess is recog-nized in the income statement immediately.Any contingent consideration to be transferred by the acquirer will be recognized at fair value at the acquisition date. Subsequent changes to the fair value of the contingent consideration which is deemed to be an asset or liability will be recognized in the income statement as financial income or expense.If the contingent consideration is classified as equity, it will not be premeasured, and subsequent settlement will be accounted for within equity. If the business combination is achieved in stages, the fair value of the Group\u2019s previously held equity interest in the acquire is remeas-ured to fair value at the acquisition date through the income statement.For the purpose of impairment testing, goodwill acquired in a business combination is, from the acquisition date, allocated to each of the group\u2019s cash-generating units that are expected to benefit from the combination, irrespective of whether other assets or liabilities of the acquired entity are assigned to those units.The Group assesses each cash generating unit annually to determine whether any indication of impairment exists. Where an indicator of impairment exists, a formal estimate of the recoverable amount is made, which is considered to be the higher of fair value less costs to sell and value in use. If there is an indication that an asset is impaired, the recoverable amount of the asset is calculated in accordance with IAS 36 Impairment of assets. For goodwill, other intangible assets with indefinite useful lives and intangible assets not yet ready for use, the recoverable amount is assessed annually.2.6 Revenue from contracts with customersRevenue is measured based on the consideration to which the Group expects to be entitled in a contract with a customer. The Group recognizes revenue when it transfers control of a good or service to a customer. Intercompany sales are eliminated.Consulting servicesArribatec provides implementation and integration services under consulting contracts with customers. Most contracts have a pricing structure where Arribatec agrees to implement and integrate software for a fixed hourly rate agreed upon in the contract, but where the number of hours to be delivered is not specified in the contract.Arribatec\u2019s performance obligation is satisfied over time because the consulting services does not create an asset that Arribatec could use for an alternative purpose and Arribatec has an enforceable right to payment for the hours worked. Revenue is recognized over time, normally according to the invoiced hours for the period. A contract asset is recognized when invoicing is deferred compared to revenue recognition. A contract liability is recognized when invoicing is done in advance compared to revenue recognition.From time-to-time Arribatec has fixed price consulting contract. In the same manner as for the contract with variable hours, the asset created does not have an alternative use for Arribatec and Arribatec has an enforceable right to payment in line with progress in the project. Arribatec recognizes revenue over time, in line with progress in the project. Progress is estimated as hours spent at the balance sheet date divided with estimated total hours in the project. This requires estimating the remaining hours to complete.Recurring revenueSale of licensesA license establishes the customer\u2019s rights related to a company\u2019s intellectual property (IP) and the obligations of the company to provide those rights. IFRS 15 distinguishes between whether the license provides a \u201cright to use\u201d or a \u201cright to access\u201d IP. This impacts the timing of revenue recognition.In most cases sale of licenses is part of SaaS and Solaas contracts. Arribatec in some instances has contracts that includes sale of licenses only. Arribatec has analysed its (partner) licensing contracts and concluded that they control the license before it is transferred to the customer since Arribatec has legal ownership, physical posses-sion and the risk and reward of ownership. Arribatec is therefore the principal in the customer contract.When Arribatec licenses distinct on-premise licenses, these fall under the category \u201cright-to use\u201d since the license grants the right to the IP \u201cas is\u201d when delivered. The distinct on-premise licenses pricing model is a one-time fixed fee. Revenue is recognized at the point in time when the customer is provided with the ability to use the software. The fee is recognized as a revenue at the point of time when the customer has received legal title and physical possession and the customer has accepted the license. Generally, this is at the beginning of the license period.When Arribatec license cloud-based subscription licenses (\u201cright to access\u201d), the license is not considered distinct from the online/hosting service. Revenue is recognized over time, over the license/contract period, as the customer is receiving and consuming the benefits of access to the cloud-based license on an ongoing basis. The cloud-based subscription licenses are sold for a fixed annual or monthly fee. Revenue is recognized linearly over the subscription time.Software as a service (SaaS)Software is provided over time to an end customer from a Data Center managed or contracted by Arribatec. The obligations in the SaaS contract are to offer cloud-based access to the license (owned by Arribatec), maintenance of the utility of the software, including rights to updates and future releases, and in some contracts, provide support.The customer will purchase and obtain control of the software as-a-service on a subscription or consumption basis. Revenue is therefore recognized periodically over the life of the SaaS contract.In some cases, Arribatec has a separate installation and implementation contract regarding the same customer projects. When these contracts are negotiated close in time from each other, Arribatec considers whether the two contracts have been negotiated as a package with a single commercial objective, or not. If this is the case the two contracts are combined. If not, they are accounted for separately.The implementation and installation services are capable of being distinct and distinct within the context of these contracts. This is concluded based on an analysis of the different deliveries and the performance obligations in the contract. Arribatec has therefore concluded that there are generally two distinct performance obliga-tions in the two combined contracts. When there are two combined contracts, the transaction price is allocated between the two perfor-mance obligations based on relative stand-alone prices that are estimated based on the pricing of each element in the contract like hours, contract length, and options to extend the contract.Arribatec\u2019s performance obligation under the installation and integra-tion contract is satisfied over time because the consulting services does not create an asset that Arribatec could use for an alternative purpose and Arribatec has an enforceable right to payment for the hours worked. Revenue is accordingly recognized over time as the installation and integration is performed based on the hours worked.Solution as a service (SolaaS)As for SaaS, the main obligations in the SolaaS contract are to offer a cloud- based, \u201cright to access\u201d type of license, maintenance of the utility of the software, including updates and future releases, and provide support. In the SolaaS contracts an additional part of the value chain, the implementation and integration services, is added to the contract. In Solaas contracts the customer pays a fixed annual or monthly fee that also includes payment for the implementation and integration services\u201dAs for the SaaS, contracts with a separate (combined) implementation and integration service contract, generally in the SolaaS contracts, there are two distinct POs. However, this is assessed on a contract to contract basis, where all facts and circumstances are considered.When Solaas contracts is considered two (or more) performance obligations revenue is allocated between the performance obligations based on relative stand-alone selling prices and recognized as follows:\u2013 Consulting service. Revenue is recognized over time when the consulting service is delivered. \u2013 SaaS (license, online service and maintenance and support): The customer receives and consumes the benefits from the SaaS delivery as Arribatec performs under the contract. Therefore, the performance obligation is satisfied over time and revenue is recognized over the period the service is available for use by the customer.Managed servicesUnder the managed services contracts Arribatec helps customers operate their IT environments, either on premise or from the cloud. Managed services contracts are delivered on a fixed price and a minimum commitment to the customers, on a long-term contract. Additional work above the agreed level is considered normal consulting services.Arribatec delivers an integrated set of services as defined in the managed service agreement. The customer receives and consumes the benefits from the Managed services as Arribatec performs under the contract. Therefore, the performance obligation is satisfied over time and revenue is recognized over time.One-time revenue from third party hardwareIn some contracts Arribatec delivers both physical hardware and installation of software on the hardware, e.g. for self-service/ check-in kiosks. In such cases the hardware product is considered as a separate contract obligation that is recognized as revenue when it is installed.Other revenueRevenue from other servicesArribatec to a limited extent provides maintenance services, support services and application management services under separate contracts, for a fixed fee. The performance obligations under these contracts are satisfied over time and revenue is recognized accord-ingly.Government grantsGovernment grants are recognized when there is reasonable assur-ance that the grant will be received, and all associated conditions will be complied with. When the grant relates to an asset, it reduces the carrying amount of the asset. The grant is then recognized in profit or loss over the useful life of the depreciable asset by way of a reduced depreciation charge.2.7 Employee benefitsPension obligationsThe Group\u2019s pension obligations vary between countries depending on the local legislation and different pension systems, please see Note 28 for further description. The group only has defined contribu-tion retirement plans.Defined contribution retirement plans are retirement plans where the company\u2019s payment obligations are limited to the fixed contributions and where the fees already have been undertaken. The retirement benefits for the individual employee are dependent on the contributions paid to the retirement plan or an insurance company by the employer, and the return of capital invested in the retirement fund. Consequently, it is the employee that holds the risk of return (that the return will be lower than expected) and the risk of the investment (the risk that the invested pension provision will not be sufficient to cover expected retirement compensation in the future). The obligations of the Company related to payments of defined contribution retirement plans are expensed in the income statement as they are earned by the employee for services conducted on behalf of the employer during the period.2.8 Research and Development costDevelopment expenditures are capitalized only when the criterion for recognition is met, i.e., it is probable that the expected future economic benefits that are attributable to the asset will flow to the entity, management has committed itself to complete the asset, the technical feasibility of completing the asset has been demonstrated and the cost can be measured reliably. Research costs are expensed in full.The assets are amortized over their expected useful life once the assets are available for use. During the period of development, the asset is tested for impairment annually. Development costs that do not meet the criteria for capitalization are expensed as incurred.2.9 TaxesIncome taxes consists of current tax and deferred tax. Current income tax assets and liabilities for the current and prior periods are measured at the amount expected to be recovered from or paid to the taxation authorities. The tax rates and tax laws used to compute the amount are those that are enacted or substantively enacted by the balance sheet date.Deferred income tax is provided using the liability method on temporary differences at the balance sheet date between the tax bases of assets and liabilities and their carrying amounts for financial reporting purposes. Deferred income tax liabilities are recognized for all taxable temporary differences except where the deferred income tax liability arises from the initial recognition of goodwill or of an asset or liability in a transaction that is not a business combination and, at the time of the transaction, affects neither the accounting profit nor taxable profit or loss.A deferred tax asset is recognized to the extent that is probable that future taxable profit will be available against for which unused tax losses and unused tax credits can be utilized. A deferred tax asset arising from unused tax losses or tax credit is only recognized to the extent that the entity has sufficient taxable temporary differences or that there is convincing other evidence supporting the utilization of the tax losses and tax credits, including the impact of time restriction by local tax authorities. The carrying amount of deferred tax asset is reviewed at the end of each reporting period. Unrecognized deferred tax assets are reassessed at each balance sheet date. Deferred income tax assets and deferred income tax liabilities are offset, when a legally enforceable right exists to set off tax assets against income tax liabilities and the deferred income taxes relate to the same taxable entity or taxation authority.2.10 Property, plant and equipmentProperty, plant and equipment are measured at cost in the balance sheet, with a deduction for accumulated depreciation and any impair-ment. Depreciation is made on a straight-line basis over the asset\u2019s estimated useful life, which is assessed on an individual basis, ranging from five to ten years.2.11 Intangible assetsGoodwillGoodwill represents the excess of cost of an acquisition over the fair value of the net identifiable assets of the acquired subsidiary at the date of acquisition. Goodwill on the acquisition of subsidiaries is included within intangible assets. Goodwill that arises on the acqui-sition of subsidiaries is allocated to cash generating units (CGUs). Goodwill is measured at cost (residual) less accumulated impairment losses. Goodwill is tested for impairment at least annually, or when there are indications of impairment. Impairment is determined for goodwill by assessing the recoverable amount of each CGU to which the goodwill relates. When the recoverable amount of the CGU is less than it\u2019s carrying amount, an impairment loss is recognized. Impairment losses relating to goodwill cannot be reversed in future periods. When the group disposes of an operation within a CGU or group of CGUs to which goodwill has been allocated, a portion of the goodwill is included in the carrying amount of the operation when determining the gain of loss on disposal. The portion of the goodwill allocated is measured based on the relative values of the operation disposed of and the portion of the CGU retained at the date of the partial disposal, unless it can be demonstrated that another method better reflects the goodwill associated with the operation disposed of. The same principle is used for allocation of goodwill when the group reorganises its businesses.Customer relationships and technical assetsThe assets acquired in a business combination are recognized at fair value on the acquisition date. Customer relationships and databases have a finite useful life and are carried at cost less accumulated amortization. Amortization is calculated using the straight-line method to allocate the cost over their useful lives of three to five years.2.12 Financial instrumentsAll financial assets and liabilities are initially recognized at fair value, and subsequently classified either as financial assets at amortized cost or financial assets through profit or loss.Accounts and other receivableAccounts receivable and other receivables are initially recognized at the transaction price and are subsequently carried at amortized cost less provision for expected credit losses.Trade and other payablesTrade and other payables are initially recognized at fair value, and subsequently measured at amortized cost. Trade and other payables are measures at their nominal amount when the effect of discounting is not material.Cash and Cash equivalentCash and cash equivalents include cash at banks and on hand and other short term highly liquid investments with original maturities of three months or less. In the consolidated balance sheet, any bank overdrafts are shown within borrowings in current liabilities.Interest bearing loans and other financial liabilitiesThe Group\u2019s debt and other financial liabilities are initially recognized at fair value, including transaction costs directly attributable to the transaction, and are subsequently measured at amortized cost.2.13 ClassificationsFixed assets and long-term liabilities consist of items expected to be settled more than twelve months after the balance sheet date. Current assets and current liabilities consist of amounts that are expected to be settled within twelve months after the balance sheet date.2.14 Right of use assets and Lease liabilitiesAt the inception of a contract, the group assesses whether the contract is, or contains, a lease. A contract is, or contains, a lease if the contract conveys the right to control the use of an identified asset for a period of time, in exchange for consideration.For contracts that constitute, or contain a lease, the Group separates lease components if it benefits from the use of each underlying asset either on its own or together with other resources that are readily available, and the underlying asset is neither highly dependent on, nor highly interrelated with, the other underlying assets in the contract. The Group then accounts for each lease component within the contract as a lease separately from non-lease components of the contract.At the lease commencement date, the Group recognizes a lease liability and corresponding right-of-use asset for all lease agreements in which it is the lessee, except for the following exemptions applied:\u2022 Short-term leases (defined as twelve months or less)\u2022 Low value assets For these leases, the Group recognizes the lease payments as other operating expenses in the statement of profit or loss when they incur. The lease liability is recognized at the commencement date of the lease. The Group measures the lease liability at the present value of the lease payments for the right to use the underlying asset during the lease term that are not paid at the commencement date.The lease term represents the non-cancellable period of the lease, together with periods covered by an option either to extend or to terminate the lease when the Group is reasonably certain to exercise this option.The lease liability is subsequently measured by increasing the carrying amount to reflect interest on the lease liability, reducing the carrying amount to reflect the lease payments made and remeas-uring the carrying amount to reflect any reassessment or lease modifications, or to reflect adjustments in lease payments due to an adjustment in an index or rate. The Group does not include variable lease payments in the lease liability. Instead, the Group recognizes these variable lease expenses in profit or loss.The Group presents its lease liabilities as separate line items in the statement of financial position.The Group measures the right-of use asset at cost, less any accu-mulated depreciation and impairment losses, adjusted for any remeasurement of lease liabilities.The Group applies the depreciation requirements IAS 16 \u2018Property, Plant and Equipment\u2019 in depreciating the right-of-use asset, except that the right-of-use asset is depreciated from the commencement date to the earlier of the lease term and the remaining useful life of the right-of-use asset.The Group applies IAS 36 \u2018Impairment of Assets\u2019 to determine whether the right-of-use asset is impaired and to account for any impairment loss identified.2.15 ProvisionsProvisions and contingent liabilitiesProvisions are recognized when the Group has a present legal or constructive obligation as a result of past events, it is more likely than not that an outflow of resources will be required to settle the obliga-tion and the amount can be reliably estimated.Restructuring provisions are recognized only when the recognition criteria for provisions are fulfilled. The Group has a constructive obli-gation when a detailed formal plan identifies the activities concerned, the location and number of employees affected, a detailed estimate of the associated costs, and an appropriate timeline. Furthermore, the employees affected have been notified of the plan\u2019s main features.2.16 Changes in Accounting Policies and disclosures for 2022 calendar year or thereafterThe Group does not expect any standards issued by the IASB, but not yet effective, to have material impact on the Group.",
"dimensions": {
"concept": "ifrs-full:DisclosureOfSummaryOfSignificantAccountingPoliciesExplanatory",
"language": "en",
"entity": "scheme:5967007LIEEXZXFK0040",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"s7_notes__6__17": {
"value": "2.1 Basis for preparationThe financial accounts for Arribatec Group ASA as \u201cthe Parent company\u201d together with its controlled subsidiaries, together called \u201cthe Group\u201d have been prepared in accordance with International Financial Reporting Standards as adopted by the EU (IFRS), relevant interpretations, and the Norwegian Accounting Act. The consolidated financial statements have been prepared on a historical cost basis, except where IFRS explicitly requires use of other values.",
"dimensions": {
"concept": "ifrs-full:StatementOfIFRSCompliance",
"language": "en",
"entity": "scheme:5967007LIEEXZXFK0040",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"s7_notes__6__18": {
"value": "The financial accounts for Arribatec Group ASA as \u201cthe Parent company\u201d together with its controlled subsidiaries, together called \u201cthe Group\u201d have been prepared in accordance with International Financial Reporting Standards as adopted by the EU (IFRS), relevant interpretations, and the Norwegian Accounting Act. The consolidated financial statements have been prepared on a historical cost basis, except where IFRS explicitly requires use of other values. As the Parent company has NOK as its functional currency, the financial accounts are presented in NOK.",
"dimensions": {
"concept": "ifrs-full:DisclosureOfBasisOfPreparationOfFinancialStatementsExplanatory",
"language": "en",
"entity": "scheme:5967007LIEEXZXFK0040",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"s7_notes__6__20": {
"value": "The consolidated financial statements comprise the financial state-ments of the Parent Company and its subsidiaries as of 31 December 2022.Control is established when the Parent Company is exposed to, or has rights to, variable returns from its involvement with the entity and has the ability to affect those returns through its power over the entity.Business combinations are accounted for by using the acquisition method. Consolidation of a subsidiary begins when the Group obtains control over the subsidiary and ceases when the Group loses control of the subsidiary. Where necessary, adjustments are made to the financial statements of subsidiaries to bring the accounting policies used into line with the Group\u2019s accounting policies.There is a presumption that if the Group has the majority of the voting rights in an entity, the entity is considered as a subsidiary. To support this presumption and when the Group has less than a majority of the voting or similar rights of an investee, the Group considers all relevant facts and circumstances in assessing whether it has power over the entity. Including ownership interests, voting rights, ownership struc-ture and relative power, as well as options controlled by the Group and shareholder\u2019s agreement or other contractual agreements.The assessments are done for each individual investment. The Group re-assesses whether it controls an entity if facts and circumstances indicate that there are changes to one or more of the three elements of control.Intercompany transactions, balances and unrealized gains on trans-actions between group companies are eliminated. Unrealized losses are also eliminated unless the transaction provides evidence of an impairment of the transferred asset.Profit or loss and each component of other comprehensive income (OCI) are attributed to the equity holders of the Parent Company.",
"dimensions": {
"concept": "ifrs-full:DisclosureOfGeneralInformationAboutFinancialStatementsExplanatory",
"language": "en",
"entity": "scheme:5967007LIEEXZXFK0040",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"s7_notes__6__19": {
"value": "The consolidated financial statements comprise the financial state-ments of the Parent Company and its subsidiaries as of 31 December 2022.Control is established when the Parent Company is exposed to, or has rights to, variable returns from its involvement with the entity and has the ability to affect those returns through its power over the entity.Business combinations are accounted for by using the acquisition method. Consolidation of a subsidiary begins when the Group obtains control over the subsidiary and ceases when the Group loses control of the subsidiary. Where necessary, adjustments are made to the financial statements of subsidiaries to bring the accounting policies used into line with the Group\u2019s accounting policies.There is a presumption that if the Group has the majority of the voting rights in an entity, the entity is considered as a subsidiary. To support this presumption and when the Group has less than a majority of the voting or similar rights of an investee, the Group considers all relevant facts and circumstances in assessing whether it has power over the entity. Including ownership interests, voting rights, ownership struc-ture and relative power, as well as options controlled by the Group and shareholder\u2019s agreement or other contractual agreements.The assessments are done for each individual investment. The Group re-assesses whether it controls an entity if facts and circumstances indicate that there are changes to one or more of the three elements of control.Intercompany transactions, balances and unrealized gains on trans-actions between group companies are eliminated. Unrealized losses are also eliminated unless the transaction provides evidence of an impairment of the transferred asset.Profit or loss and each component of other comprehensive income (OCI) are attributed to the equity holders of the Parent Company.",
"dimensions": {
"concept": "ifrs-full:DisclosureOfBasisOfConsolidationExplanatory",
"language": "en",
"entity": "scheme:5967007LIEEXZXFK0040",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"s7_notes__6__23": {
"value": "2.4 Functional currencies and presentation currencyThe financial statements are presented in NOK, which is the functional currency of the Parent company, as well as being the presentation currency for the Group. For the purpose of presenting this consolidated financial statement, the assets and liabilities of the Group\u2019s non-NOK operations are translated into NOK using exchange rates prevailing at the end of the reporting period. Income and expense items are translated at the average exchange rates for the year. All group transactions and group unsettled matters, and profit and losses for transactions between group companies that are put into effect, are eliminated at the consolidation.",
"dimensions": {
"concept": "ifrs-full:DisclosureOfReservesAndOtherEquityInterestExplanatory",
"language": "en",
"entity": "scheme:5967007LIEEXZXFK0040",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"s7_notes__6__22": {
"value": "2.4 Functional currencies and presentation currencyThe financial statements are presented in NOK, which is the functional currency of the Parent company, as well as being the presentation currency for the Group. For the purpose of presenting this consolidated financial statement, the assets and liabilities of the Group\u2019s non-NOK operations are translated into NOK using exchange rates prevailing at the end of the reporting period. Income and expense items are translated at the average exchange rates for the year. All group transactions and group unsettled matters, and profit and losses for transactions between group companies that are put into effect, are eliminated at the consolidation.",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForFunctionalCurrencyExplanatory",
"language": "en",
"entity": "scheme:5967007LIEEXZXFK0040",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"s7_notes__6__21": {
"value": "2.4 Functional currencies and presentation currencyThe financial statements are presented in NOK, which is the functional currency of the Parent company, as well as being the presentation currency for the Group. For the purpose of presenting this consolidated financial statement, the assets and liabilities of the Group\u2019s non-NOK operations are translated into NOK using exchange rates prevailing at the end of the reporting period. Income and expense items are translated at the average exchange rates for the year. All group transactions and group unsettled matters, and profit and losses for transactions between group companies that are put into effect, are eliminated at the consolidation.",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForForeignCurrencyTranslationExplanatory",
"language": "en",
"entity": "scheme:5967007LIEEXZXFK0040",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"s7_notes__6__25": {
"value": "2.5 Business combinations and goodwillBusiness combinations are accounted for using the acquisition accounting method. Acquisition costs incurred are expensed and included in operating expenses. When the Group acquires a business, it assesses the identifiable assets acquired and liabilities assumed for appropriate classification and designation in accordance with the contractual terms, economic circumstances and relevant conditions as at the acquisition date. The acquirer\u2019s identifiable assets, liabilities and contingent liabilities that meet the conditions for recognition are recognized at their fair values at the acquisition date, except for non-current assets that are classified as held for sale and recognized at fair value less cost to sell, and deferred tax assets and liabilities which are recognized at nominal value.Goodwill arising on acquisition is recognized as an asset measured at the excess of the sum of the consideration transferred, the fair value of any previously held equity interests and the amount of any non-controlling interests in the acquire over the net amounts of the identifiable assets acquired and the liabilities assumed. If, after reas-sessment, the Group\u2019s interest in the net fair value of the acquirer\u2019s identifiable assets, liabilities and contingent liabilities exceeds the total consideration of the business combination, the excess is recog-nized in the income statement immediately.Any contingent consideration to be transferred by the acquirer will be recognized at fair value at the acquisition date. Subsequent changes to the fair value of the contingent consideration which is deemed to be an asset or liability will be recognized in the income statement as financial income or expense.If the contingent consideration is classified as equity, it will not be premeasured, and subsequent settlement will be accounted for within equity. If the business combination is achieved in stages, the fair value of the Group\u2019s previously held equity interest in the acquire is remeas-ured to fair value at the acquisition date through the income statement.For the purpose of impairment testing, goodwill acquired in a business combination is, from the acquisition date, allocated to each of the group\u2019s cash-generating units that are expected to benefit from the combination, irrespective of whether other assets or liabilities of the acquired entity are assigned to those units.The Group assesses each cash generating unit annually to determine whether any indication of impairment exists. Where an indicator of impairment exists, a formal estimate of the recoverable amount is made, which is considered to be the higher of fair value less costs to sell and value in use. If there is an indication that an asset is impaired, the recoverable amount of the asset is calculated in accordance with IAS 36 Impairment of assets. For goodwill, other intangible assets with indefinite useful lives and intangible assets not yet ready for use, the recoverable amount is assessed annually.",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForBusinessCombinationsExplanatory",
"language": "en",
"entity": "scheme:5967007LIEEXZXFK0040",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"s7_notes__6__24": {
"value": "2.5 Business combinations and goodwillBusiness combinations are accounted for using the acquisition accounting method. Acquisition costs incurred are expensed and included in operating expenses. When the Group acquires a business, it assesses the identifiable assets acquired and liabilities assumed for appropriate classification and designation in accordance with the contractual terms, economic circumstances and relevant conditions as at the acquisition date. The acquirer\u2019s identifiable assets, liabilities and contingent liabilities that meet the conditions for recognition are recognized at their fair values at the acquisition date, except for non-current assets that are classified as held for sale and recognized at fair value less cost to sell, and deferred tax assets and liabilities which are recognized at nominal value.Goodwill arising on acquisition is recognized as an asset measured at the excess of the sum of the consideration transferred, the fair value of any previously held equity interests and the amount of any non-controlling interests in the acquire over the net amounts of the identifiable assets acquired and the liabilities assumed. If, after reas-sessment, the Group\u2019s interest in the net fair value of the acquirer\u2019s identifiable assets, liabilities and contingent liabilities exceeds the total consideration of the business combination, the excess is recog-nized in the income statement immediately.Any contingent consideration to be transferred by the acquirer will be recognized at fair value at the acquisition date. Subsequent changes to the fair value of the contingent consideration which is deemed to be an asset or liability will be recognized in the income statement as financial income or expense.If the contingent consideration is classified as equity, it will not be premeasured, and subsequent settlement will be accounted for within equity. If the business combination is achieved in stages, the fair value of the Group\u2019s previously held equity interest in the acquire is remeas-ured to fair value at the acquisition date through the income statement.For the purpose of impairment testing, goodwill acquired in a business combination is, from the acquisition date, allocated to each of the group\u2019s cash-generating units that are expected to benefit from the combination, irrespective of whether other assets or liabilities of the acquired entity are assigned to those units.The Group assesses each cash generating unit annually to determine whether any indication of impairment exists. Where an indicator of impairment exists, a formal estimate of the recoverable amount is made, which is considered to be the higher of fair value less costs to sell and value in use. If there is an indication that an asset is impaired, the recoverable amount of the asset is calculated in accordance with IAS 36 Impairment of assets. For goodwill, other intangible assets with indefinite useful lives and intangible assets not yet ready for use, the recoverable amount is assessed annually.",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForBusinessCombinationsAndGoodwillExplanatory",
"language": "en",
"entity": "scheme:5967007LIEEXZXFK0040",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"s7_notes__6__28": {
"value": "2.6 Revenue from contracts with customersRevenue is measured based on the consideration to which the Group expects to be entitled in a contract with a customer. The Group recognizes revenue when it transfers control of a good or service to a customer. Intercompany sales are eliminated.Consulting servicesArribatec provides implementation and integration services under consulting contracts with customers. Most contracts have a pricing structure where Arribatec agrees to implement and integrate software for a fixed hourly rate agreed upon in the contract, but where the number of hours to be delivered is not specified in the contract.Arribatec\u2019s performance obligation is satisfied over time because the consulting services does not create an asset that Arribatec could use for an alternative purpose and Arribatec has an enforceable right to payment for the hours worked. Revenue is recognized over time, normally according to the invoiced hours for the period. A contract asset is recognized when invoicing is deferred compared to revenue recognition. A contract liability is recognized when invoicing is done in advance compared to revenue recognition.From time-to-time Arribatec has fixed price consulting contract. In the same manner as for the contract with variable hours, the asset created does not have an alternative use for Arribatec and Arribatec has an enforceable right to payment in line with progress in the project. Arribatec recognizes revenue over time, in line with progress in the project. Progress is estimated as hours spent at the balance sheet date divided with estimated total hours in the project. This requires estimating the remaining hours to complete.Recurring revenueSale of licensesA license establishes the customer\u2019s rights related to a company\u2019s intellectual property (IP) and the obligations of the company to provide those rights. IFRS 15 distinguishes between whether the license provides a \u201cright to use\u201d or a \u201cright to access\u201d IP. This impacts the timing of revenue recognition.In most cases sale of licenses is part of SaaS and Solaas contracts. Arribatec in some instances has contracts that includes sale of licenses only. Arribatec has analysed its (partner) licensing contracts and concluded that they control the license before it is transferred to the customer since Arribatec has legal ownership, physical posses-sion and the risk and reward of ownership. Arribatec is therefore the principal in the customer contract.When Arribatec licenses distinct on-premise licenses, these fall under the category \u201cright-to use\u201d since the license grants the right to the IP \u201cas is\u201d when delivered. The distinct on-premise licenses pricing model is a one-time fixed fee. Revenue is recognized at the point in time when the customer is provided with the ability to use the software. The fee is recognized as a revenue at the point of time when the customer has received legal title and physical possession and the customer has accepted the license. Generally, this is at the beginning of the license period.When Arribatec license cloud-based subscription licenses (\u201cright to access\u201d), the license is not considered distinct from the online/hosting service. Revenue is recognized over time, over the license/contract period, as the customer is receiving and consuming the benefits of access to the cloud-based license on an ongoing basis. The cloud-based subscription licenses are sold for a fixed annual or monthly fee. Revenue is recognized linearly over the subscription time.Software as a service (SaaS)Software is provided over time to an end customer from a Data Center managed or contracted by Arribatec. The obligations in the SaaS contract are to offer cloud-based access to the license (owned by Arribatec), maintenance of the utility of the software, including rights to updates and future releases, and in some contracts, provide support.The customer will purchase and obtain control of the software as-a-service on a subscription or consumption basis. Revenue is therefore recognized periodically over the life of the SaaS contract.In some cases, Arribatec has a separate installation and implementation contract regarding the same customer projects. When these contracts are negotiated close in time from each other, Arribatec considers whether the two contracts have been negotiated as a package with a single commercial objective, or not. If this is the case the two contracts are combined. If not, they are accounted for separately.The implementation and installation services are capable of being distinct and distinct within the context of these contracts. This is concluded based on an analysis of the different deliveries and the performance obligations in the contract. Arribatec has therefore concluded that there are generally two distinct performance obliga-tions in the two combined contracts. When there are two combined contracts, the transaction price is allocated between the two perfor-mance obligations based on relative stand-alone prices that are estimated based on the pricing of each element in the contract like hours, contract length, and options to extend the contract.Arribatec\u2019s performance obligation under the installation and integra-tion contract is satisfied over time because the consulting services does not create an asset that Arribatec could use for an alternative purpose and Arribatec has an enforceable right to payment for the hours worked. Revenue is accordingly recognized over time as the installation and integration is performed based on the hours worked.Solution as a service (SolaaS)As for SaaS, the main obligations in the SolaaS contract are to offer a cloud- based, \u201cright to access\u201d type of license, maintenance of the utility of the software, including updates and future releases, and provide support. In the SolaaS contracts an additional part of the value chain, the implementation and integration services, is added to the contract. In Solaas contracts the customer pays a fixed annual or monthly fee that also includes payment for the implementation and integration services\u201dAs for the SaaS, contracts with a separate (combined) implementation and integration service contract, generally in the SolaaS contracts, there are two distinct POs. However, this is assessed on a contract to contract basis, where all facts and circumstances are considered.When Solaas contracts is considered two (or more) performance obligations revenue is allocated between the performance obligations based on relative stand-alone selling prices and recognized as follows:\u2013 Consulting service. Revenue is recognized over time when the consulting service is delivered. \u2013 SaaS (license, online service and maintenance and support): The customer receives and consumes the benefits from the SaaS delivery as Arribatec performs under the contract. Therefore, the performance obligation is satisfied over time and revenue is recognized over the period the service is available for use by the customer.Managed servicesUnder the managed services contracts Arribatec helps customers operate their IT environments, either on premise or from the cloud. Managed services contracts are delivered on a fixed price and a minimum commitment to the customers, on a long-term contract. Additional work above the agreed level is considered normal consulting services.Arribatec delivers an integrated set of services as defined in the managed service agreement. The customer receives and consumes the benefits from the Managed services as Arribatec performs under the contract. Therefore, the performance obligation is satisfied over time and revenue is recognized over time.One-time revenue from third party hardwareIn some contracts Arribatec delivers both physical hardware and installation of software on the hardware, e.g. for self-service/ check-in kiosks. In such cases the hardware product is considered as a separate contract obligation that is recognized as revenue when it is installed.Other revenueRevenue from other servicesArribatec to a limited extent provides maintenance services, support services and application management services under separate contracts, for a fixed fee. The performance obligations under these contracts are satisfied over time and revenue is recognized accord-ingly.",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForRecognitionOfRevenue",
"language": "en",
"entity": "scheme:5967007LIEEXZXFK0040",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"s7_notes__6__27": {
"value": "2.6 Revenue from contracts with customersRevenue is measured based on the consideration to which the Group expects to be entitled in a contract with a customer. The Group recognizes revenue when it transfers control of a good or service to a customer. Intercompany sales are eliminated.Consulting servicesArribatec provides implementation and integration services under consulting contracts with customers. Most contracts have a pricing structure where Arribatec agrees to implement and integrate software for a fixed hourly rate agreed upon in the contract, but where the number of hours to be delivered is not specified in the contract.Arribatec\u2019s performance obligation is satisfied over time because the consulting services does not create an asset that Arribatec could use for an alternative purpose and Arribatec has an enforceable right to payment for the hours worked. Revenue is recognized over time, normally according to the invoiced hours for the period. A contract asset is recognized when invoicing is deferred compared to revenue recognition. A contract liability is recognized when invoicing is done in advance compared to revenue recognition.From time-to-time Arribatec has fixed price consulting contract. In the same manner as for the contract with variable hours, the asset created does not have an alternative use for Arribatec and Arribatec has an enforceable right to payment in line with progress in the project. Arribatec recognizes revenue over time, in line with progress in the project. Progress is estimated as hours spent at the balance sheet date divided with estimated total hours in the project. This requires estimating the remaining hours to complete.Recurring revenueSale of licensesA license establishes the customer\u2019s rights related to a company\u2019s intellectual property (IP) and the obligations of the company to provide those rights. IFRS 15 distinguishes between whether the license provides a \u201cright to use\u201d or a \u201cright to access\u201d IP. This impacts the timing of revenue recognition.In most cases sale of licenses is part of SaaS and Solaas contracts. Arribatec in some instances has contracts that includes sale of licenses only. Arribatec has analysed its (partner) licensing contracts and concluded that they control the license before it is transferred to the customer since Arribatec has legal ownership, physical posses-sion and the risk and reward of ownership. Arribatec is therefore the principal in the customer contract.When Arribatec licenses distinct on-premise licenses, these fall under the category \u201cright-to use\u201d since the license grants the right to the IP \u201cas is\u201d when delivered. The distinct on-premise licenses pricing model is a one-time fixed fee. Revenue is recognized at the point in time when the customer is provided with the ability to use the software. The fee is recognized as a revenue at the point of time when the customer has received legal title and physical possession and the customer has accepted the license. Generally, this is at the beginning of the license period.When Arribatec license cloud-based subscription licenses (\u201cright to access\u201d), the license is not considered distinct from the online/hosting service. Revenue is recognized over time, over the license/contract period, as the customer is receiving and consuming the benefits of access to the cloud-based license on an ongoing basis. The cloud-based subscription licenses are sold for a fixed annual or monthly fee. Revenue is recognized linearly over the subscription time.Software as a service (SaaS)Software is provided over time to an end customer from a Data Center managed or contracted by Arribatec. The obligations in the SaaS contract are to offer cloud-based access to the license (owned by Arribatec), maintenance of the utility of the software, including rights to updates and future releases, and in some contracts, provide support.The customer will purchase and obtain control of the software as-a-service on a subscription or consumption basis. Revenue is therefore recognized periodically over the life of the SaaS contract.In some cases, Arribatec has a separate installation and implementation contract regarding the same customer projects. When these contracts are negotiated close in time from each other, Arribatec considers whether the two contracts have been negotiated as a package with a single commercial objective, or not. If this is the case the two contracts are combined. If not, they are accounted for separately.The implementation and installation services are capable of being distinct and distinct within the context of these contracts. This is concluded based on an analysis of the different deliveries and the performance obligations in the contract. Arribatec has therefore concluded that there are generally two distinct performance obliga-tions in the two combined contracts. When there are two combined contracts, the transaction price is allocated between the two perfor-mance obligations based on relative stand-alone prices that are estimated based on the pricing of each element in the contract like hours, contract length, and options to extend the contract.Arribatec\u2019s performance obligation under the installation and integra-tion contract is satisfied over time because the consulting services does not create an asset that Arribatec could use for an alternative purpose and Arribatec has an enforceable right to payment for the hours worked. Revenue is accordingly recognized over time as the installation and integration is performed based on the hours worked.Solution as a service (SolaaS)As for SaaS, the main obligations in the SolaaS contract are to offer a cloud- based, \u201cright to access\u201d type of license, maintenance of the utility of the software, including updates and future releases, and provide support. In the SolaaS contracts an additional part of the value chain, the implementation and integration services, is added to the contract. In Solaas contracts the customer pays a fixed annual or monthly fee that also includes payment for the implementation and integration services\u201dAs for the SaaS, contracts with a separate (combined) implementation and integration service contract, generally in the SolaaS contracts, there are two distinct POs. However, this is assessed on a contract to contract basis, where all facts and circumstances are considered.When Solaas contracts is considered two (or more) performance obligations revenue is allocated between the performance obligations based on relative stand-alone selling prices and recognized as follows:\u2013 Consulting service. Revenue is recognized over time when the consulting service is delivered. \u2013 SaaS (license, online service and maintenance and support): The customer receives and consumes the benefits from the SaaS delivery as Arribatec performs under the contract. Therefore, the performance obligation is satisfied over time and revenue is recognized over the period the service is available for use by the customer.Managed servicesUnder the managed services contracts Arribatec helps customers operate their IT environments, either on premise or from the cloud. Managed services contracts are delivered on a fixed price and a minimum commitment to the customers, on a long-term contract. Additional work above the agreed level is considered normal consulting services.Arribatec delivers an integrated set of services as defined in the managed service agreement. The customer receives and consumes the benefits from the Managed services as Arribatec performs under the contract. Therefore, the performance obligation is satisfied over time and revenue is recognized over time.One-time revenue from third party hardwareIn some contracts Arribatec delivers both physical hardware and installation of software on the hardware, e.g. for self-service/ check-in kiosks. In such cases the hardware product is considered as a separate contract obligation that is recognized as revenue when it is installed.Other revenueRevenue from other servicesArribatec to a limited extent provides maintenance services, support services and application management services under separate contracts, for a fixed fee. The performance obligations under these contracts are satisfied over time and revenue is recognized accord-ingly.",
"dimensions": {
"concept": "ifrs-full:DisclosureOfRevenueFromContractsWithCustomersExplanatory",
"language": "en",
"entity": "scheme:5967007LIEEXZXFK0040",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"s7_notes__6__26-1": {
"value": "2.6 Revenue from contracts with customersRevenue is measured based on the consideration to which the Group expects to be entitled in a contract with a customer. The Group recognizes revenue when it transfers control of a good or service to a customer. Intercompany sales are eliminated.Consulting servicesArribatec provides implementation and integration services under consulting contracts with customers. Most contracts have a pricing structure where Arribatec agrees to implement and integrate software for a fixed hourly rate agreed upon in the contract, but where the number of hours to be delivered is not specified in the contract.Arribatec\u2019s performance obligation is satisfied over time because the consulting services does not create an asset that Arribatec could use for an alternative purpose and Arribatec has an enforceable right to payment for the hours worked. Revenue is recognized over time, normally according to the invoiced hours for the period. A contract asset is recognized when invoicing is deferred compared to revenue recognition. A contract liability is recognized when invoicing is done in advance compared to revenue recognition.From time-to-time Arribatec has fixed price consulting contract. In the same manner as for the contract with variable hours, the asset created does not have an alternative use for Arribatec and Arribatec has an enforceable right to payment in line with progress in the project. Arribatec recognizes revenue over time, in line with progress in the project. Progress is estimated as hours spent at the balance sheet date divided with estimated total hours in the project. This requires estimating the remaining hours to complete.Recurring revenueSale of licensesA license establishes the customer\u2019s rights related to a company\u2019s intellectual property (IP) and the obligations of the company to provide those rights. IFRS 15 distinguishes between whether the license provides a \u201cright to use\u201d or a \u201cright to access\u201d IP. This impacts the timing of revenue recognition.In most cases sale of licenses is part of SaaS and Solaas contracts. Arribatec in some instances has contracts that includes sale of licenses only. Arribatec has analysed its (partner) licensing contracts and concluded that they control the license before it is transferred to the customer since Arribatec has legal ownership, physical posses-sion and the risk and reward of ownership. Arribatec is therefore the principal in the customer contract.When Arribatec licenses distinct on-premise licenses, these fall under the category \u201cright-to use\u201d since the license grants the right to the IP \u201cas is\u201d when delivered. The distinct on-premise licenses pricing model is a one-time fixed fee. Revenue is recognized at the point in time when the customer is provided with the ability to use the software. The fee is recognized as a revenue at the point of time when the customer has received legal title and physical possession and the customer has accepted the license. Generally, this is at the beginning of the license period.When Arribatec license cloud-based subscription licenses (\u201cright to access\u201d), the license is not considered distinct from the online/hosting service. Revenue is recognized over time, over the license/contract period, as the customer is receiving and consuming the benefits of access to the cloud-based license on an ongoing basis. The cloud-based subscription licenses are sold for a fixed annual or monthly fee. Revenue is recognized linearly over the subscription time.Software as a service (SaaS)Software is provided over time to an end customer from a Data Center managed or contracted by Arribatec. The obligations in the SaaS contract are to offer cloud-based access to the license (owned by Arribatec), maintenance of the utility of the software, including rights to updates and future releases, and in some contracts, provide support.The customer will purchase and obtain control of the software as-a-service on a subscription or consumption basis. Revenue is therefore recognized periodically over the life of the SaaS contract.In some cases, Arribatec has a separate installation and implementation contract regarding the same customer projects. When these contracts are negotiated close in time from each other, Arribatec considers whether the two contracts have been negotiated as a package with a single commercial objective, or not. If this is the case the two contracts are combined. If not, they are accounted for separately.The implementation and installation services are capable of being distinct and distinct within the context of these contracts. This is concluded based on an analysis of the different deliveries and the performance obligations in the contract. Arribatec has therefore concluded that there are generally two distinct performance obliga-tions in the two combined contracts. When there are two combined contracts, the transaction price is allocated between the two perfor-mance obligations based on relative stand-alone prices that are estimated based on the pricing of each element in the contract like hours, contract length, and options to extend the contract.Arribatec\u2019s performance obligation under the installation and integra-tion contract is satisfied over time because the consulting services does not create an asset that Arribatec could use for an alternative purpose and Arribatec has an enforceable right to payment for the hours worked. Revenue is accordingly recognized over time as the installation and integration is performed based on the hours worked.Solution as a service (SolaaS)As for SaaS, the main obligations in the SolaaS contract are to offer a cloud- based, \u201cright to access\u201d type of license, maintenance of the utility of the software, including updates and future releases, and provide support. In the SolaaS contracts an additional part of the value chain, the implementation and integration services, is added to the contract. In Solaas contracts the customer pays a fixed annual or monthly fee that also includes payment for the implementation and integration services\u201dAs for the SaaS, contracts with a separate (combined) implementation and integration service contract, generally in the SolaaS contracts, there are two distinct POs. However, this is assessed on a contract to contract basis, where all facts and circumstances are considered.When Solaas contracts is considered two (or more) performance obligations revenue is allocated between the performance obligations based on relative stand-alone selling prices and recognized as follows:\u2013 Consulting service. Revenue is recognized over time when the consulting service is delivered. \u2013 SaaS (license, online service and maintenance and support): The customer receives and consumes the benefits from the SaaS delivery as Arribatec performs under the contract. Therefore, the performance obligation is satisfied over time and revenue is recognized over the period the service is available for use by the customer.Managed servicesUnder the managed services contracts Arribatec helps customers operate their IT environments, either on premise or from the cloud. Managed services contracts are delivered on a fixed price and a minimum commitment to the customers, on a long-term contract. Additional work above the agreed level is considered normal consulting services.Arribatec delivers an integrated set of services as defined in the managed service agreement. The customer receives and consumes the benefits from the Managed services as Arribatec performs under the contract. Therefore, the performance obligation is satisfied over time and revenue is recognized over time.One-time revenue from third party hardwareIn some contracts Arribatec delivers both physical hardware and installation of software on the hardware, e.g. for self-service/ check-in kiosks. In such cases the hardware product is considered as a separate contract obligation that is recognized as revenue when it is installed.Other revenueRevenue from other servicesArribatec to a limited extent provides maintenance services, support services and application management services under separate contracts, for a fixed fee. The performance obligations under these contracts are satisfied over time and revenue is recognized accord-ingly.Note 5 SegmentThe market for Arribatec\u2019s Software and services are global. The chief decision maker will therefore follow up revenue and profitability on a global basis, segmented into the Business Areas. This is consistent with the internal reporting submitted to the chief operating decision maker, defined as the Management Group. The Management Group is responsible for allocating resources and assessing performance as well as making strategic decisions. Principles of revenue recognition are stated in accounting principles Note 2.6.SegmentThe management of the Group follows up the revenue by Business Area and geography. During 2022, segment reporting was imple-mented and for comparable 2021 figures, estimates have been applied, ref table below.Business services is focusing on ERP, BI & Analytics, DevOps, integra-tions and software solutions for research institutes. Arribatec Business services provide simplicity by implementing, customizing, maintaining and supporting the entire business landscape, with ERP as the core engine. We integrate it with other marked leading systems that provide better operational support and insight than a single ERP system does.EA & BPM provides Enterprise Architecture and Business Process Management. Arribatec EA&BPM delivers solutions and long-term services within the spaces of business process management, enter-prise architecture and corporate governance to major Norwegian and Nordic customers, both in the private and public sector.Cloud provides cloud services such as hosting IT infrastructure within f ex hybrid, Azure, Splunk and GDPR. Arribatec Cloud provides consulting, outsourcing and cloud services to private and public enterprises. In addition to offering market leading cloud services from Microsoft and Google, Arribatec Cloud also operates its own public cloud offering based on Norwegian data centers to accommodate special use cases for our customers.Hospitality delivers solutions for self-check-in/check-out and payments for the hospitality industry.Marine is the Business Area of Arribatec Group focusing on the Maritime sector. Arribatec Marine competences are the development, implementation, and consulting of the owned asset management system solutions: Infoship.2022Corporate/ NOK thousand Business services EA & BPM Cloud Hospitality MarineOther Eliminations TotalRevenue 291 362 89 789 113 726 3 642 47 066 1 166 (41 781) 504 968Materials, software and services (64 177) (19 812) (48 862) 1 948 (6 365) (17 561) 39 794 (115 035)Gross margin 227 185 69 977 64 864 5 590 40 701 (16 395) (1 988) 389 934Salary and personnel costs (177 970) (52 108) (41 291) (10 192) (39 066) (18 172) 0 (338 800)Other operating expenses (21 768) (5 437) (22 031) (3 678) (11 702) (22 613) 1 988 (85 241)Total operating expenses (199 739) (57 545) (63 322) (13 870) (50 768) (40 785) 1 988 (424 041)EBITDA 27 446 12 432 1 542 (8 280) (10 067) (57 180) 0 (34 107)Depreciation, amortization and impairment (15 110) (5 707) (7 116) (2 762) (14 696) (10 842) 0 (56 232)EBIT 12 336 6 725 (5 573) (11 042) (24 764) (68 022) 0 (90 339)Net financial items (331) (9) (357) (223) 74 757 0 (89)Profit/(loss) before tax 12 005 6 717 (5 931) (11 265) (24 690) (67 265) 0 (90 428)Gross margin % 78.0% 77.9% 57.0% 153.5% 86.5% na na 77.2%EBITDA % 9.4% 13.8% 1.4% (227.4%) (21.4%) na na (6.8%)2021Corporate/ NOK thousand Business services EA & BPM Cloud Hospitality MarineOther Eliminations TotalRevenue 223 390 72 967 87 673 1 097 49 540 0 (20 729) 413 938Materials, software and services (44 260) (13 597) (42 505) (1 003) (5 550) 0 14 055 (92 859)Gross margin 179 130 59 371 45 168 94 43 990 0 (6 673) 321 079Salary and personnel costs (154 807) (43 288) (27 264) (7 050) (39 594) (1 846) 1 170 (272 679)Other operating expenses (11 036) (4 621) (7 165) (3 273) (11 024) (23 585) 5 503 (55 201)Total operating expenses (165 842) (47 909) (34 429) (10 323) (50 618) (25 431) 6 673 (327 879)EBITDA 13 288 11 462 10 739 (10 229) (6 628) (25 431) 0 (6 800)Depreciation, amortization and impairment (4 247) (1 324) (6 310) (1 432) (8 747) (20 910) 0 (42 970)EBIT 9 041 10 138 4 429 (11 661) (15 374) (46 341) 0 (49 770)Net financial items (8 765) 100 (516) (235) (2 478) 8 004 0 (3 890)Profit/(loss) before tax 276 10 238 3 913 (11 896) (17 853) (38 337) 0 (53 660)Gross margin % 80.2% 81.4% 51.5% 8.6% 88.8% na na 77.6%EBITDA % 5.9% 15.7% 12.2% (932.4%) (13.4%) na na (1.6%)Disaggregation of revenueIn the following table, revenue is disaggregated by primary service line, geography and recurrence. In presenting the geographic information, revenue has been based on the geographic location of legal entity.2022NOK thousand Consulting services Recurring Revenue One-time revenue TotalNorway 140 157 149 666 15 472 305 295Europe 129 395 27 911 5 819 163 126Americas 28 902 6 917 728 36 548Total revenue 298 454 184 495 22 019 504 9692021NOK thousand Consulting services Recurring Revenue One-time revenue TotalNorway 131 872 126 924 14 877 273 672Europe 92 742 14 345 4 211 111 297Americas 23 355 4 313 1 301 28 968Total revenue 247 969 145 581 20 388 413 9382022NOK thousand Consulting services Recurring Revenue One-time revenue TotalBusiness services 196 857 66 727 1 917 265 501EA & BPM 59 512 23 995 5 402 88 909Cloud 13 966 78 095 8 170 100 230Hospitality 1 253 1 286 1 023 3 562Marine 26 866 14 401 5 506 46 773Corporate/Other 0 (8) 0 (8)Total revenue 298 454 184 495 22 019 504 9682021NOK thousand Consulting services Recurring Revenue One-time revenue TotalBusiness services 156 481 50 613 2 569 209 663EA & BPM 51 073 15 219 4 942 71 234Cloud 10 376 64 393 7 887 82 656Hospitality 0 192 905 1 097Marine 30 039 15 164 4 086 49 289Total revenue 247 969 145 581 20 388 413 938",
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"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"s7_notes__6__30": {
"value": "Government grantsGovernment grants are recognized when there is reasonable assur-ance that the grant will be received, and all associated conditions will be complied with. When the grant relates to an asset, it reduces the carrying amount of the asset. The grant is then recognized in profit or loss over the useful life of the depreciable asset by way of a reduced depreciation charge.",
"dimensions": {
"concept": "ifrs-full:DisclosureOfGovernmentGrantsExplanatory",
"language": "en",
"entity": "scheme:5967007LIEEXZXFK0040",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"s7_notes__6__29": {
"value": "Government grants are recognized when there is reasonable assur-ance that the grant will be received, and all associated conditions will be complied with. When the grant relates to an asset, it reduces the carrying amount of the asset. The grant is then recognized in profit or loss over the useful life of the depreciable asset by way of a reduced depreciation charge.",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForGovernmentGrants",
"language": "en",
"entity": "scheme:5967007LIEEXZXFK0040",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"s7_notes__6__32": {
"value": "2.7 Employee benefitsPension obligationsThe Group\u2019s pension obligations vary between countries depending on the local legislation and different pension systems, please see Note 28 for further description. The group only has defined contribu-tion retirement plans.Defined contribution retirement plans are retirement plans where the company\u2019s payment obligations are limited to the fixed contributions and where the fees already have been undertaken. The retirement benefits for the individual employee are dependent on the contributions paid to the retirement plan or an insurance company by the employer, and the return of capital invested in the retirement fund. Consequently, it is the employee that holds the risk of return (that the return will be lower than expected) and the risk of the investment (the risk that the invested pension provision will not be sufficient to cover expected retirement compensation in the future). The obligations of the Company related to payments of defined contribution retirement plans are expensed in the income statement as they are earned by the employee for services conducted on behalf of the employer during the period.",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForEmployeeBenefitsExplanatory",
"language": "en",
"entity": "scheme:5967007LIEEXZXFK0040",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"s7_notes__6__31-1": {
"value": "2.7 Employee benefitsPension obligationsThe Group\u2019s pension obligations vary between countries depending on the local legislation and different pension systems, please see Note 28 for further description. The group only has defined contribu-tion retirement plans.Defined contribution retirement plans are retirement plans where the company\u2019s payment obligations are limited to the fixed contributions and where the fees already have been undertaken. The retirement benefits for the individual employee are dependent on the contributions paid to the retirement plan or an insurance company by the employer, and the return of capital invested in the retirement fund. Consequently, it is the employee that holds the risk of return (that the return will be lower than expected) and the risk of the investment (the risk that the invested pension provision will not be sufficient to cover expected retirement compensation in the future). The obligations of the Company related to payments of defined contribution retirement plans are expensed in the income statement as they are earned by the employee for services conducted on behalf of the employer during the period.Note 28 PensionsArribatec group meets the different local mandatory occupational pension requirement.Arribatec operates defined contribution retirement benefit plans for all qualifying employees of its subsidiaries in Norway, Sweden and Denmark. The only obligation of the group with respect to retirement benefit plan is to make the specified contributions.The employees of other subsidiaries are member of a state managed retirement benefit plan operated by the government. The subsidiaries are required to contribute a specified percentage of payroll costs to the retirement benefit scheme to fund the benefits.",
"dimensions": {
"concept": "ifrs-full:DisclosureOfEmployeeBenefitsExplanatory",
"language": "en",
"entity": "scheme:5967007LIEEXZXFK0040",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"s7_notes__6__35-1": {
"value": "2.8 Research and Development costDevelopment expenditures are capitalized only when the criterion for recognition is met, i.e., it is probable that the expected future economic benefits that are attributable to the asset will flow to the entity, management has committed itself to complete the asset, the technical feasibility of completing the asset has been demonstrated and the cost can be measured reliably. Research costs are expensed in full.The assets are amortized over their expected useful life once the assets are available for use. During the period of development, the asset is tested for impairment annually. Development costs that do not meet the criteria for capitalization are expensed as incurred.2.10 Property, plant and equipmentProperty, plant and equipment are measured at cost in the balance sheet, with a deduction for accumulated depreciation and any impair-ment. Depreciation is made on a straight-line basis over the asset\u2019s estimated useful life, which is assessed on an individual basis, ranging from five to ten years.2.11 Intangible assetsGoodwillGoodwill represents the excess of cost of an acquisition over the fair value of the net identifiable assets of the acquired subsidiary at the date of acquisition. Goodwill on the acquisition of subsidiaries is included within intangible assets. Goodwill that arises on the acqui-sition of subsidiaries is allocated to cash generating units (CGUs). Goodwill is measured at cost (residual) less accumulated impairment losses. Goodwill is tested for impairment at least annually, or when there are indications of impairment. Impairment is determined for goodwill by assessing the recoverable amount of each CGU to which the goodwill relates. When the recoverable amount of the CGU is less than it\u2019s carrying amount, an impairment loss is recognized. Impairment losses relating to goodwill cannot be reversed in future periods. When the group disposes of an operation within a CGU or group of CGUs to which goodwill has been allocated, a portion of the goodwill is included in the carrying amount of the operation when determining the gain of loss on disposal. The portion of the goodwill allocated is measured based on the relative values of the operation disposed of and the portion of the CGU retained at the date of the partial disposal, unless it can be demonstrated that another method better reflects the goodwill associated with the operation disposed of. The same principle is used for allocation of goodwill when the group reorganises its businesses.Customer relationships and technical assetsThe assets acquired in a business combination are recognized at fair value on the acquisition date. Customer relationships and databases have a finite useful life and are carried at cost less accumulated amortization. Amortization is calculated using the straight-line method to allocate the cost over their useful lives of three to five years.Note 16 Goodwill and impairmentGoodwill and intangible assets stated in the consolidated financial position are mainly derived from excess value following the acqui-sitions of Instidata AS in 2019, Facil AS, Microsky AS and Innit AS in 2020 and Maksit AS, Qualisoft AS, IB Group and Integra Ass. Ltd in 2021. Recognized goodwill amounts to NOK 204.6m as of 31 December 2022 (NOK 205.3m). Other intangible assets related to excess values in the Group accounts are customer relations and soft-ware, with a carrying amount of NOK 45.3 million as per 31 December 2022 (NOK 62.3m).Only goodwill has an indefinite lifetime, all other intangible assets are amortized, ref Note 12.Goodwill is tested for impairment for each cash generating unit (CGU) prior to preparation of the annual accounts. The test is performed annually, and when there are indications of impairment. There were no impairment indications in the impairment test 2022 where recoverable amounts exceeded the balance sheet amounts, thus no impairment has been done in 2022.The recoverable amount for each CGU has been determined esti-mating their Value in Use (VIU) and comparing that to the carrying amount of the specific CGU. The calculation of VIU has been based on mstimate, reflecting the Grou\u2019\u2019s financial planning process. The discount rates are derived as the weighted average cost of capital (WACC) for a similar business in the same business environment.Goodwill has been allocated for impairment testing purposes to the CGUs below.NOK thousand Cloud BizS Marine Hospitality EA&BPM TotalNorway 56 622 35 585 0 24 416 66 361 182 984UK 0 17 398 0 0 0 17 398Italy 0 0 4 199 0 0 4 199Total 56 622 52 983 4 199 24 416 66 361 204 581Cash flow projections and assumptionsA five-year forecast of discounted cash flows plus a 2.0% terminal value growth rate was used to determine net present value of the CGU. Discounted cash flows were calculated after tax and applying a WACC after tax. Estimated cash flow covering the period 2023-2027 consists of estimates for 2023 and beyond. Key assumptions for the value in use calculationsThe basis for the projection of the future cash flows estimated is based on the financial budget of one year, approved by the Board of Directors. The budget in combination with the forecasts represent management\u2019s best estimate of the range of economic conditions that will exist over the remaining useful life of the asset. The remaining four years of the forecast period are estimated based on budget and projected performance. The calculation of VIU for the CGU is most of all sensitive when it comes to the following assumptions:Discount rateThe input data for the WACC is gathered from external sources.2022 2021Norway UK Italy AllRisk free interest rate 3.1% 3.3% 4.2% 3%Debt risk premium 6.6% 6.6% 6.6% 3%Equity risk premium 5.9% 5.9% 5.9% 4%Equity Beta 1.37 1.37 1.37 1.61Cost of equity 11.2% 11.2% 11.2% 9.4%Tax rate 22% 19% 29% 22%After tax cost debt 7.6% 7.7% 8.0% 4.7%Equity weight 90% 90% 90% 90%WACC (pre tax) 13.8% 14.0% 16.6% 9.0%The average growth rate and EBITDA margin assumptions are based on historical experience and performance as well as market analysis used for budget 2023 and estimates from 2024-2026 and a terminal growth rate of 2%. The average growth rates in the period for each CGU is: 1Hospitality 2Cloud BizS MarineEA&BPMAverage revenue growth 16% 9% 0% 196% 16%Average EBITDA margin 7% 15% 18% 41% 19%1 The restructuring and sales of IP in the Marine CGU from 2022 to 2023 effect the average growth rates 2 CGU Hospitality will until Q2 2023 go from a start up to become a mature profit making unit, thus impact on the growth rates seems unnatural",
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"language": "en",
"entity": "scheme:5967007LIEEXZXFK0040",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
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"s7_notes__6__34": {
"value": "2.8 Research and Development costDevelopment expenditures are capitalized only when the criterion for recognition is met, i.e., it is probable that the expected future economic benefits that are attributable to the asset will flow to the entity, management has committed itself to complete the asset, the technical feasibility of completing the asset has been demonstrated and the cost can be measured reliably. Research costs are expensed in full.The assets are amortized over their expected useful life once the assets are available for use. During the period of development, the asset is tested for impairment annually. Development costs that do not meet the criteria for capitalization are expensed as incurred.",
"dimensions": {
"concept": "ifrs-full:DisclosureOfResearchAndDevelopmentExpenseExplanatory",
"language": "en",
"entity": "scheme:5967007LIEEXZXFK0040",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"s7_notes__6__33": {
"value": "2.8 Research and Development costDevelopment expenditures are capitalized only when the criterion for recognition is met, i.e., it is probable that the expected future economic benefits that are attributable to the asset will flow to the entity, management has committed itself to complete the asset, the technical feasibility of completing the asset has been demonstrated and the cost can be measured reliably. Research costs are expensed in full.The assets are amortized over their expected useful life once the assets are available for use. During the period of development, the asset is tested for impairment annually. Development costs that do not meet the criteria for capitalization are expensed as incurred.",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForResearchAndDevelopmentExpenseExplanatory",
"language": "en",
"entity": "scheme:5967007LIEEXZXFK0040",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"s7_notes__6__39": {
"value": "2.9 TaxesIncome taxes consists of current tax and deferred tax. Current income tax assets and liabilities for the current and prior periods are measured at the amount expected to be recovered from or paid to the taxation authorities. The tax rates and tax laws used to compute the amount are those that are enacted or substantively enacted by the balance sheet date.Deferred income tax is provided using the liability method on temporary differences at the balance sheet date between the tax bases of assets and liabilities and their carrying amounts for financial reporting purposes. Deferred income tax liabilities are recognized for all taxable temporary differences except where the deferred income tax liability arises from the initial recognition of goodwill or of an asset or liability in a transaction that is not a business combination and, at the time of the transaction, affects neither the accounting profit nor taxable profit or loss.A deferred tax asset is recognized to the extent that is probable that future taxable profit will be available against for which unused tax losses and unused tax credits can be utilized. A deferred tax asset arising from unused tax losses or tax credit is only recognized to the extent that the entity has sufficient taxable temporary differences or that there is convincing other evidence supporting the utilization of the tax losses and tax credits, including the impact of time restriction by local tax authorities. The carrying amount of deferred tax asset is reviewed at the end of each reporting period. Unrecognized deferred tax assets are reassessed at each balance sheet date. Deferred income tax assets and deferred income tax liabilities are offset, when a legally enforceable right exists to set off tax assets against income tax liabilities and the deferred income taxes relate to the same taxable entity or taxation authority.",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForIncomeTaxExplanatory",
"language": "en",
"entity": "scheme:5967007LIEEXZXFK0040",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"s7_notes__6__38": {
"value": "2.9 TaxesIncome taxes consists of current tax and deferred tax. Current income tax assets and liabilities for the current and prior periods are measured at the amount expected to be recovered from or paid to the taxation authorities. The tax rates and tax laws used to compute the amount are those that are enacted or substantively enacted by the balance sheet date.Deferred income tax is provided using the liability method on temporary differences at the balance sheet date between the tax bases of assets and liabilities and their carrying amounts for financial reporting purposes. Deferred income tax liabilities are recognized for all taxable temporary differences except where the deferred income tax liability arises from the initial recognition of goodwill or of an asset or liability in a transaction that is not a business combination and, at the time of the transaction, affects neither the accounting profit nor taxable profit or loss.A deferred tax asset is recognized to the extent that is probable that future taxable profit will be available against for which unused tax losses and unused tax credits can be utilized. A deferred tax asset arising from unused tax losses or tax credit is only recognized to the extent that the entity has sufficient taxable temporary differences or that there is convincing other evidence supporting the utilization of the tax losses and tax credits, including the impact of time restriction by local tax authorities. The carrying amount of deferred tax asset is reviewed at the end of each reporting period. Unrecognized deferred tax assets are reassessed at each balance sheet date. Deferred income tax assets and deferred income tax liabilities are offset, when a legally enforceable right exists to set off tax assets against income tax liabilities and the deferred income taxes relate to the same taxable entity or taxation authority.",
"dimensions": {
"concept": "ifrs-full:DisclosureOfDeferredTaxesExplanatory",
"language": "en",
"entity": "scheme:5967007LIEEXZXFK0040",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"s7_notes__6__37": {
"value": "2.9 TaxesIncome taxes consists of current tax and deferred tax. Current income tax assets and liabilities for the current and prior periods are measured at the amount expected to be recovered from or paid to the taxation authorities. The tax rates and tax laws used to compute the amount are those that are enacted or substantively enacted by the balance sheet date.Deferred income tax is provided using the liability method on temporary differences at the balance sheet date between the tax bases of assets and liabilities and their carrying amounts for financial reporting purposes. Deferred income tax liabilities are recognized for all taxable temporary differences except where the deferred income tax liability arises from the initial recognition of goodwill or of an asset or liability in a transaction that is not a business combination and, at the time of the transaction, affects neither the accounting profit nor taxable profit or loss.A deferred tax asset is recognized to the extent that is probable that future taxable profit will be available against for which unused tax losses and unused tax credits can be utilized. A deferred tax asset arising from unused tax losses or tax credit is only recognized to the extent that the entity has sufficient taxable temporary differences or that there is convincing other evidence supporting the utilization of the tax losses and tax credits, including the impact of time restriction by local tax authorities. The carrying amount of deferred tax asset is reviewed at the end of each reporting period. Unrecognized deferred tax assets are reassessed at each balance sheet date. Deferred income tax assets and deferred income tax liabilities are offset, when a legally enforceable right exists to set off tax assets against income tax liabilities and the deferred income taxes relate to the same taxable entity or taxation authority.",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForDeferredIncomeTaxExplanatory",
"language": "en",
"entity": "scheme:5967007LIEEXZXFK0040",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"s7_notes__6__36": {
"value": "2.9 TaxesIncome taxes consists of current tax and deferred tax. Current income tax assets and liabilities for the current and prior periods are measured at the amount expected to be recovered from or paid to the taxation authorities. The tax rates and tax laws used to compute the amount are those that are enacted or substantively enacted by the balance sheet date.Deferred income tax is provided using the liability method on temporary differences at the balance sheet date between the tax bases of assets and liabilities and their carrying amounts for financial reporting purposes. Deferred income tax liabilities are recognized for all taxable temporary differences except where the deferred income tax liability arises from the initial recognition of goodwill or of an asset or liability in a transaction that is not a business combination and, at the time of the transaction, affects neither the accounting profit nor taxable profit or loss.A deferred tax asset is recognized to the extent that is probable that future taxable profit will be available against for which unused tax losses and unused tax credits can be utilized. A deferred tax asset arising from unused tax losses or tax credit is only recognized to the extent that the entity has sufficient taxable temporary differences or that there is convincing other evidence supporting the utilization of the tax losses and tax credits, including the impact of time restriction by local tax authorities. The carrying amount of deferred tax asset is reviewed at the end of each reporting period. Unrecognized deferred tax assets are reassessed at each balance sheet date. Deferred income tax assets and deferred income tax liabilities are offset, when a legally enforceable right exists to set off tax assets against income tax liabilities and the deferred income taxes relate to the same taxable entity or taxation authority.",
"dimensions": {
"concept": "ifrs-full:DisclosureOfIncomeTaxExplanatory",
"language": "en",
"entity": "scheme:5967007LIEEXZXFK0040",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"s7_notes__6__43": {
"value": "2.10 Property, plant and equipmentProperty, plant and equipment are measured at cost in the balance sheet, with a deduction for accumulated depreciation and any impair-ment. Depreciation is made on a straight-line basis over the asset\u2019s estimated useful life, which is assessed on an individual basis, ranging from five to ten years.2.11 Intangible assetsGoodwillGoodwill represents the excess of cost of an acquisition over the fair value of the net identifiable assets of the acquired subsidiary at the date of acquisition. Goodwill on the acquisition of subsidiaries is included within intangible assets. Goodwill that arises on the acqui-sition of subsidiaries is allocated to cash generating units (CGUs). Goodwill is measured at cost (residual) less accumulated impairment losses. Goodwill is tested for impairment at least annually, or when there are indications of impairment. Impairment is determined for goodwill by assessing the recoverable amount of each CGU to which the goodwill relates. When the recoverable amount of the CGU is less than it\u2019s carrying amount, an impairment loss is recognized. Impairment losses relating to goodwill cannot be reversed in future periods. When the group disposes of an operation within a CGU or group of CGUs to which goodwill has been allocated, a portion of the goodwill is included in the carrying amount of the operation when determining the gain of loss on disposal. The portion of the goodwill allocated is measured based on the relative values of the operation disposed of and the portion of the CGU retained at the date of the partial disposal, unless it can be demonstrated that another method better reflects the goodwill associated with the operation disposed of. The same principle is used for allocation of goodwill when the group reorganises its businesses.Customer relationships and technical assetsThe assets acquired in a business combination are recognized at fair value on the acquisition date. Customer relationships and databases have a finite useful life and are carried at cost less accumulated amortization. Amortization is calculated using the straight-line method to allocate the cost over their useful lives of three to five years.",
"dimensions": {
"concept": "ifrs-full:DisclosureOfImpairmentOfAssetsExplanatory",
"language": "en",
"entity": "scheme:5967007LIEEXZXFK0040",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"s7_notes__6__42": {
"value": "2.10 Property, plant and equipmentProperty, plant and equipment are measured at cost in the balance sheet, with a deduction for accumulated depreciation and any impair-ment. Depreciation is made on a straight-line basis over the asset\u2019s estimated useful life, which is assessed on an individual basis, ranging from five to ten years.",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForPropertyPlantAndEquipmentExplanatory",
"language": "en",
"entity": "scheme:5967007LIEEXZXFK0040",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"s7_notes__6__41": {
"value": "2.10 Property, plant and equipmentProperty, plant and equipment are measured at cost in the balance sheet, with a deduction for accumulated depreciation and any impair-ment. Depreciation is made on a straight-line basis over the asset\u2019s estimated useful life, which is assessed on an individual basis, ranging from five to ten years.",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForDepreciationExpenseExplanatory",
"language": "en",
"entity": "scheme:5967007LIEEXZXFK0040",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"s7_notes__6__40-1": {
"value": "2.10 Property, plant and equipmentProperty, plant and equipment are measured at cost in the balance sheet, with a deduction for accumulated depreciation and any impair-ment. Depreciation is made on a straight-line basis over the asset\u2019s estimated useful life, which is assessed on an individual basis, ranging from five to ten years.Note 10 Property, plant and equipment2022Fixtures and NOK thousand Office equipmentfittings Other TotalCost at 1 Jan 2022 18 819 3 572 1 239 23 631Additions 788 1 147 29 1 964Reclassifications (2 468) 267 757 (1 444)Sale (370) (14) (160) (545)Disposals (426) 0 (117) (543)Translation difference 442 56 89 587Cost, end of period 16 785 5 028 1 837 23 650Accumulated depreciation at 1 January 2022 (13 943) (1 463) (779) (16 185)Depreciation during the year (1 634) (701) (170) (2 505)Reclassifications 1 511 (143) (145) 1 224Sale 294 5 132 431Disposals 335 (0) 45 381Translation difference (405) (30) (43) (478)Accumulated depreciation, end of period (13 842) (2 331) (959) (17 133)Carrying amount at 31 Dec 2022 2 942 2 697 877 6 517Useful life 5-10 yrs 5 yrs 5 yrs2021Fixtures and NOK thousand Office equipmentfittings Other TotalCost at 1 January 2021 9 367 748 0 10 114Additions 2 760 626 58 3 443 1From business combinations8 399 1 175 1 792 11 366Reclassifications (1 573) 1 286 287 0Disposals (331) (352) (905) (1 588)Translation difference 198 89 8 295Cost, end of period 18 819 3 572 1 239 23 631Accumulated depreciation at 1 January 2021 (6 707) (150) 0 (6 857) 1From business combinations(7 086) (252) (1 253) (8 591)Depreciation during the year (1 510) (523) (186) (2 219)Reclassifications 953 (861) (92) 0Disposals 302 352 768 1 422Translation difference 105 (30) (15) 59Accumulated depreciation, end of period (13 943) (1 463) (779) (16 185)Carrying amount at 31 Dec 2021 4 876 2 109 460 7 445Useful life 5-10 yrs 5 yrs 5 yrs1 Ref Note 18, Business combinations",
"dimensions": {
"concept": "ifrs-full:DisclosureOfPropertyPlantAndEquipmentExplanatory",
"language": "en",
"entity": "scheme:5967007LIEEXZXFK0040",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"s7_notes__6__48": {
"value": "2.11 Intangible assetsGoodwillGoodwill represents the excess of cost of an acquisition over the fair value of the net identifiable assets of the acquired subsidiary at the date of acquisition. Goodwill on the acquisition of subsidiaries is included within intangible assets. Goodwill that arises on the acqui-sition of subsidiaries is allocated to cash generating units (CGUs). Goodwill is measured at cost (residual) less accumulated impairment losses. Goodwill is tested for impairment at least annually, or when there are indications of impairment. Impairment is determined for goodwill by assessing the recoverable amount of each CGU to which the goodwill relates. When the recoverable amount of the CGU is less than it\u2019s carrying amount, an impairment loss is recognized. Impairment losses relating to goodwill cannot be reversed in future periods. When the group disposes of an operation within a CGU or group of CGUs to which goodwill has been allocated, a portion of the goodwill is included in the carrying amount of the operation when determining the gain of loss on disposal. The portion of the goodwill allocated is measured based on the relative values of the operation disposed of and the portion of the CGU retained at the date of the partial disposal, unless it can be demonstrated that another method better reflects the goodwill associated with the operation disposed of. The same principle is used for allocation of goodwill when the group reorganises its businesses.Customer relationships and technical assetsThe assets acquired in a business combination are recognized at fair value on the acquisition date. Customer relationships and databases have a finite useful life and are carried at cost less accumulated amortization. Amortization is calculated using the straight-line method to allocate the cost over their useful lives of three to five years.",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForRecognisingDifferenceBetweenFairValueAtInitialRecognitionAndAmountDeterminedUsingValuationTechniqueExplanatory",
"language": "en",
"entity": "scheme:5967007LIEEXZXFK0040",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"s7_notes__6__47": {
"value": "2.11 Intangible assetsGoodwillGoodwill represents the excess of cost of an acquisition over the fair value of the net identifiable assets of the acquired subsidiary at the date of acquisition. Goodwill on the acquisition of subsidiaries is included within intangible assets. Goodwill that arises on the acqui-sition of subsidiaries is allocated to cash generating units (CGUs). Goodwill is measured at cost (residual) less accumulated impairment losses. Goodwill is tested for impairment at least annually, or when there are indications of impairment. Impairment is determined for goodwill by assessing the recoverable amount of each CGU to which the goodwill relates. When the recoverable amount of the CGU is less than it\u2019s carrying amount, an impairment loss is recognized. Impairment losses relating to goodwill cannot be reversed in future periods. When the group disposes of an operation within a CGU or group of CGUs to which goodwill has been allocated, a portion of the goodwill is included in the carrying amount of the operation when determining the gain of loss on disposal. The portion of the goodwill allocated is measured based on the relative values of the operation disposed of and the portion of the CGU retained at the date of the partial disposal, unless it can be demonstrated that another method better reflects the goodwill associated with the operation disposed of. The same principle is used for allocation of goodwill when the group reorganises its businesses.Customer relationships and technical assetsThe assets acquired in a business combination are recognized at fair value on the acquisition date. Customer relationships and databases have a finite useful life and are carried at cost less accumulated amortization. Amortization is calculated using the straight-line method to allocate the cost over their useful lives of three to five years.",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForIntangibleAssetsOtherThanGoodwillExplanatory",
"language": "en",
"entity": "scheme:5967007LIEEXZXFK0040",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"s7_notes__6__46": {
"value": "2.11 Intangible assetsGoodwillGoodwill represents the excess of cost of an acquisition over the fair value of the net identifiable assets of the acquired subsidiary at the date of acquisition. Goodwill on the acquisition of subsidiaries is included within intangible assets. Goodwill that arises on the acqui-sition of subsidiaries is allocated to cash generating units (CGUs). Goodwill is measured at cost (residual) less accumulated impairment losses. Goodwill is tested for impairment at least annually, or when there are indications of impairment. Impairment is determined for goodwill by assessing the recoverable amount of each CGU to which the goodwill relates. When the recoverable amount of the CGU is less than it\u2019s carrying amount, an impairment loss is recognized. Impairment losses relating to goodwill cannot be reversed in future periods. When the group disposes of an operation within a CGU or group of CGUs to which goodwill has been allocated, a portion of the goodwill is included in the carrying amount of the operation when determining the gain of loss on disposal. The portion of the goodwill allocated is measured based on the relative values of the operation disposed of and the portion of the CGU retained at the date of the partial disposal, unless it can be demonstrated that another method better reflects the goodwill associated with the operation disposed of. The same principle is used for allocation of goodwill when the group reorganises its businesses.Customer relationships and technical assetsThe assets acquired in a business combination are recognized at fair value on the acquisition date. Customer relationships and databases have a finite useful life and are carried at cost less accumulated amortization. Amortization is calculated using the straight-line method to allocate the cost over their useful lives of three to five years.",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForGoodwillExplanatory",
"language": "en",
"entity": "scheme:5967007LIEEXZXFK0040",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"s7_notes__6__45": {
"value": "2.11 Intangible assetsGoodwillGoodwill represents the excess of cost of an acquisition over the fair value of the net identifiable assets of the acquired subsidiary at the date of acquisition. Goodwill on the acquisition of subsidiaries is included within intangible assets. Goodwill that arises on the acqui-sition of subsidiaries is allocated to cash generating units (CGUs). Goodwill is measured at cost (residual) less accumulated impairment losses. Goodwill is tested for impairment at least annually, or when there are indications of impairment. Impairment is determined for goodwill by assessing the recoverable amount of each CGU to which the goodwill relates. When the recoverable amount of the CGU is less than it\u2019s carrying amount, an impairment loss is recognized. Impairment losses relating to goodwill cannot be reversed in future periods. When the group disposes of an operation within a CGU or group of CGUs to which goodwill has been allocated, a portion of the goodwill is included in the carrying amount of the operation when determining the gain of loss on disposal. The portion of the goodwill allocated is measured based on the relative values of the operation disposed of and the portion of the CGU retained at the date of the partial disposal, unless it can be demonstrated that another method better reflects the goodwill associated with the operation disposed of. The same principle is used for allocation of goodwill when the group reorganises its businesses.Customer relationships and technical assetsThe assets acquired in a business combination are recognized at fair value on the acquisition date. Customer relationships and databases have a finite useful life and are carried at cost less accumulated amortization. Amortization is calculated using the straight-line method to allocate the cost over their useful lives of three to five years.",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForIntangibleAssetsAndGoodwillExplanatory",
"language": "en",
"entity": "scheme:5967007LIEEXZXFK0040",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"s7_notes__6__52": {
"value": "2.12 Financial instrumentsAll financial assets and liabilities are initially recognized at fair value, and subsequently classified either as financial assets at amortized cost or financial assets through profit or loss.Accounts and other receivableAccounts receivable and other receivables are initially recognized at the transaction price and are subsequently carried at amortized cost less provision for expected credit losses.Trade and other payablesTrade and other payables are initially recognized at fair value, and subsequently measured at amortized cost. Trade and other payables are measures at their nominal amount when the effect of discounting is not material.Cash and Cash equivalentCash and cash equivalents include cash at banks and on hand and other short term highly liquid investments with original maturities of three months or less. In the consolidated balance sheet, any bank overdrafts are shown within borrowings in current liabilities.Interest bearing loans and other financial liabilitiesThe Group\u2019s debt and other financial liabilities are initially recognized at fair value, including transaction costs directly attributable to the transaction, and are subsequently measured at amortized cost.",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForFinancialLiabilitiesExplanatory",
"language": "en",
"entity": "scheme:5967007LIEEXZXFK0040",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"s7_notes__6__51": {
"value": "2.12 Financial instrumentsAll financial assets and liabilities are initially recognized at fair value, and subsequently classified either as financial assets at amortized cost or financial assets through profit or loss.Accounts and other receivableAccounts receivable and other receivables are initially recognized at the transaction price and are subsequently carried at amortized cost less provision for expected credit losses.Trade and other payablesTrade and other payables are initially recognized at fair value, and subsequently measured at amortized cost. Trade and other payables are measures at their nominal amount when the effect of discounting is not material.Cash and Cash equivalentCash and cash equivalents include cash at banks and on hand and other short term highly liquid investments with original maturities of three months or less. In the consolidated balance sheet, any bank overdrafts are shown within borrowings in current liabilities.Interest bearing loans and other financial liabilitiesThe Group\u2019s debt and other financial liabilities are initially recognized at fair value, including transaction costs directly attributable to the transaction, and are subsequently measured at amortized cost.",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForFinancialInstrumentsAtFairValueThroughProfitOrLossExplanatory",
"language": "en",
"entity": "scheme:5967007LIEEXZXFK0040",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"s7_notes__6__50": {
"value": "2.12 Financial instrumentsAll financial assets and liabilities are initially recognized at fair value, and subsequently classified either as financial assets at amortized cost or financial assets through profit or loss.Accounts and other receivableAccounts receivable and other receivables are initially recognized at the transaction price and are subsequently carried at amortized cost less provision for expected credit losses.Trade and other payablesTrade and other payables are initially recognized at fair value, and subsequently measured at amortized cost. Trade and other payables are measures at their nominal amount when the effect of discounting is not material.Cash and Cash equivalentCash and cash equivalents include cash at banks and on hand and other short term highly liquid investments with original maturities of three months or less. In the consolidated balance sheet, any bank overdrafts are shown within borrowings in current liabilities.Interest bearing loans and other financial liabilitiesThe Group\u2019s debt and other financial liabilities are initially recognized at fair value, including transaction costs directly attributable to the transaction, and are subsequently measured at amortized cost.",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForFinancialInstrumentsExplanatory",
"language": "en",
"entity": "scheme:5967007LIEEXZXFK0040",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"s7_notes__6__49": {
"value": "2.12 Financial instrumentsAll financial assets and liabilities are initially recognized at fair value, and subsequently classified either as financial assets at amortized cost or financial assets through profit or loss.Accounts and other receivableAccounts receivable and other receivables are initially recognized at the transaction price and are subsequently carried at amortized cost less provision for expected credit losses.Trade and other payablesTrade and other payables are initially recognized at fair value, and subsequently measured at amortized cost. Trade and other payables are measures at their nominal amount when the effect of discounting is not material.Cash and Cash equivalentCash and cash equivalents include cash at banks and on hand and other short term highly liquid investments with original maturities of three months or less. In the consolidated balance sheet, any bank overdrafts are shown within borrowings in current liabilities.Interest bearing loans and other financial liabilitiesThe Group\u2019s debt and other financial liabilities are initially recognized at fair value, including transaction costs directly attributable to the transaction, and are subsequently measured at amortized cost.",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForFinancialAssetsExplanatory",
"language": "en",
"entity": "scheme:5967007LIEEXZXFK0040",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"s7_notes__6__53": {
"value": "Accounts and other receivableAccounts receivable and other receivables are initially recognized at the transaction price and are subsequently carried at amortized cost less provision for expected credit losses.",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForTradeAndOtherReceivablesExplanatory",
"language": "en",
"entity": "scheme:5967007LIEEXZXFK0040",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"s7_notes__6__54": {
"value": "Trade and other payables are initially recognized at fair value, and subsequently measured at amortized cost. Trade and other payables are measures at their nominal amount when the effect of discounting is not material.",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForTradeAndOtherPayablesExplanatory",
"language": "en",
"entity": "scheme:5967007LIEEXZXFK0040",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"s7_notes__6__55": {
"value": "Cash and Cash equivalentCash and cash equivalents include cash at banks and on hand and other short term highly liquid investments with original maturities of three months or less. In the consolidated balance sheet, any bank overdrafts are shown within borrowings in current liabilities.",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyToDetermineComponentsOfCashAndCashEquivalents",
"language": "en",
"entity": "scheme:5967007LIEEXZXFK0040",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"s7_notes__6__56": {
"value": "Interest bearing loans and other financial liabilitiesThe Group\u2019s debt and other financial liabilities are initially recognized at fair value, including transaction costs directly attributable to the transaction, and are subsequently measured at amortized cost.",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForLoansAndReceivablesExplanatory",
"language": "en",
"entity": "scheme:5967007LIEEXZXFK0040",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"s7_notes__6__58": {
"value": "The Group\u2019s debt and other financial liabilities are initially recognized at fair value, including transaction costs directly attributable to the transaction, and are subsequently measured at amortized cost.",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForBorrowingsExplanatory",
"language": "en",
"entity": "scheme:5967007LIEEXZXFK0040",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"s7_notes__6__57": {
"value": "The Group\u2019s debt and other financial liabilities are initially recognized at fair value, including transaction costs directly attributable to the transaction, and are subsequently measured at amortized cost.",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForBorrowingCostsExplanatory",
"language": "en",
"entity": "scheme:5967007LIEEXZXFK0040",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"s7_notes__6__59": {
"value": "2.14 Right of use assets and Lease liabilitiesAt the inception of a contract, the group assesses whether the contract is, or contains, a lease. A contract is, or contains, a lease if the contract conveys the right to control the use of an identified asset for a period of time, in exchange for consideration.For contracts that constitute, or contain a lease, the Group separates lease components if it benefits from the use of each underlying asset either on its own or together with other resources that are readily available, and the underlying asset is neither highly dependent on, nor highly interrelated with, the other underlying assets in the contract. The Group then accounts for each lease component within the contract as a lease separately from non-lease components of the contract.At the lease commencement date, the Group recognizes a lease liability and corresponding right-of-use asset for all lease agreements in which it is the lessee, except for the following exemptions applied:\u2022 Short-term leases (defined as twelve months or less)\u2022 Low value assets For these leases, the Group recognizes the lease payments as other operating expenses in the statement of profit or loss when they incur. The lease liability is recognized at the commencement date of the lease. The Group measures the lease liability at the present value of the lease payments for the right to use the underlying asset during the lease term that are not paid at the commencement date.The lease term represents the non-cancellable period of the lease, together with periods covered by an option either to extend or to terminate the lease when the Group is reasonably certain to exercise this option.The lease liability is subsequently measured by increasing the carrying amount to reflect interest on the lease liability, reducing the carrying amount to reflect the lease payments made and remeas-uring the carrying amount to reflect any reassessment or lease modifications, or to reflect adjustments in lease payments due to an adjustment in an index or rate. The Group does not include variable lease payments in the lease liability. Instead, the Group recognizes these variable lease expenses in profit or loss.The Group presents its lease liabilities as separate line items in the statement of financial position.The Group measures the right-of use asset at cost, less any accu-mulated depreciation and impairment losses, adjusted for any remeasurement of lease liabilities.The Group applies the depreciation requirements IAS 16 \u2018Property, Plant and Equipment\u2019 in depreciating the right-of-use asset, except that the right-of-use asset is depreciated from the commencement date to the earlier of the lease term and the remaining useful life of the right-of-use asset.The Group applies IAS 36 \u2018Impairment of Assets\u2019 to determine whether the right-of-use asset is impaired and to account for any impairment loss identified.",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForLeasesExplanatory",
"language": "en",
"entity": "scheme:5967007LIEEXZXFK0040",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"s7_notes__6__61": {
"value": "2.15 ProvisionsProvisions and contingent liabilitiesProvisions are recognized when the Group has a present legal or constructive obligation as a result of past events, it is more likely than not that an outflow of resources will be required to settle the obliga-tion and the amount can be reliably estimated.Restructuring provisions are recognized only when the recognition criteria for provisions are fulfilled. The Group has a constructive obli-gation when a detailed formal plan identifies the activities concerned, the location and number of employees affected, a detailed estimate of the associated costs, and an appropriate timeline. Furthermore, the employees affected have been notified of the plan\u2019s main features.2.16 Changes in Accounting Policies and disclosures for 2022 calendar year or thereafterThe Group does not expect any standards issued by the IASB, but not yet effective, to have material impact on the Group.",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForContingentLiabilitiesAndContingentAssetsExplanatory",
"language": "en",
"entity": "scheme:5967007LIEEXZXFK0040",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"s7_notes__6__60": {
"value": "2.15 ProvisionsProvisions and contingent liabilitiesProvisions are recognized when the Group has a present legal or constructive obligation as a result of past events, it is more likely than not that an outflow of resources will be required to settle the obliga-tion and the amount can be reliably estimated.Restructuring provisions are recognized only when the recognition criteria for provisions are fulfilled. The Group has a constructive obli-gation when a detailed formal plan identifies the activities concerned, the location and number of employees affected, a detailed estimate of the associated costs, and an appropriate timeline. Furthermore, the employees affected have been notified of the plan\u2019s main features.",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForProvisionsExplanatory",
"language": "en",
"entity": "scheme:5967007LIEEXZXFK0040",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"s7_notes__6__62": {
"value": "Note 3 Critical accounting estimates and judgements in terms of accounting policiesThe preparation of the consolidated financial statements in conformity with IFRS requires the use of certain critical accounting estimates and assumptions that affect the reported amounts of revenue, expenses, assets and liabilities, and the accompanying disclosures, and the disclosures of contingent liabilities. It also requires management to exercise its judgement in the process of applying the group\u2019s accounting policies. Uncertainty about these assumptions and estimates could result in outcomes that require a material adjustment to the carrying amount of assets or liabilities affected in future periods. Estimates and judgements are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.Critical accounting estimates and assumptionsThe group makes estimates and assumptions concerning the future. The resulting accounting estimates will, by definition, seldom equal the related actual results. The Group based its assumptions and estimates on parameters available when the financial statements were prepared. Existing circumstances and assumptions about future developments, however, may change due to market changes or circumstances arising beyond the control of the Group. Such changes are reflected in the assumptions when they occur. The estimates and assumptions that have significant risk of causing a material adjust-ment to the carrying amounts of assets and liabilities within the next financial year are addressed below. GoodwillIn accordance with the stated accounting policy, the group annu-ally tests whether goodwill has suffered any impairment or more frequently if impairment indicators are identified. The recoverable number of cash-generating units has been determined based on value-in-use calculations. These calculations require the use of esti-mates. The value-in-use calculation is based on a discounted cash flow model. The cash flows are derived from the budgets and fore-casts for the next five years, as approved by the Company\u2019s Board of Directors, and do not include significant investments that will enhance the performance of the CGU being tested. The recoverable amount is most sensitive to the discount rate used for the discounted cash flow model, as well as the expected future cash-inflows (sensitive to estimates of sales and cost levels) and the growth rate used for extrapolation purposes. Further details regarding goodwill and impair-ment reviews are included in Note 16.",
"dimensions": {
"concept": "ifrs-full:DisclosureOfAccountingJudgementsAndEstimatesExplanatory",
"language": "en",
"entity": "scheme:5967007LIEEXZXFK0040",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"s7_notes__6__64": {
"value": "Note 4 Financial risksArribatec defines risk as all factors which could have a negative impact on the ability of the Group to achieve its business objectives. All economic activities are associated with risk. In order to manage risk in a balanced way, it must first be identified and assessed. Arribatec conducts risk management at both a Group and company level, where risks are evaluated in a systematic manner. The following summary is by no means comprehensive but offers an overview of all material financial risk factors which are considered important for Arribatec\u2019s future development.Risks associated with changes in economic conditions are managed through regular checks on developments in each country.Currency riskCurrency risk refers to the risk that the value of liquid and financial instruments may shift as a result of changes in exchange rates. Transactions in foreign currency (other than the unit\u2019s functional currency, which is NOK) are converted at the exchange rate on the transaction date. Monetary items in foreign currency are converted to NOK using the exchange rate at the balance sheet date. Non-monetary items measured at the historical rate expressed in a foreign currency are converted into NOK using the exchange rate on the transaction date.The currency risk is limited in Arribatec as few balance items are posted in foreign currency per 31.12.2022.Credit riskCredit risks are the risks that counterparty will not meet its obligations under a financial contract or customer contract, leading to a financial loss. The Group is exposed to credit risk from its operating activities, primarily related to cash and cash equivalents, trade receivables and contract assets from contracts with the customers and other receiv-ables.As part of the Group\u2019s earnings model, certain of its customers pays for software and services under a solutions as-a-software (SolaaS) arrangement, meaning that the customer is paying a monthly recurring sum for, inter alia, the software and services already provided or to be provided by the Group. As such, these customers\u2019 monthly recurring payment obligations also include payment for licenses and software already integrated and implemented, in addition to services related to continuous maintenance and consulting. This in contrast to e.g. software-as-a-service (SaaS) arrangements, where the customer in general pays a lump sum for the initial software integration and implementation, and subsequently only pays for services related to maintenance and consulting services. Although the Group has opted for this model to ensure some predictable long-term income, the Group is dependent on its customers having the ability and/or willing-ness to pay for the software and services already provided or to be provided. Customer credit risk is managed subject to established policies, procedures and controls relating to customer credit risk management. The maximum exposure to credit risk at the reporting date is the carrying value of each class of financial assets.The Company manage the credit risk by working closely with the customers. Additional cooperation and agreements are made with Partners like collection companies and credit check suppliers.Interest rate risksInterest risk is related to the risk the Group is exposed to from changes in the market\u2019s interest rate which can affect the net profit. The Group\u2019s main interest rate risk arises from long-term borrowings with variable rates, which amounted to NOK 31.2m on 31 December 2022 (2021: NOK 37.4m). The loan carries a variable interest rate based on the interbank rate in each currency with a margin. Any annualized increase or decrease by 100 basis point would increase/decrease the Groups profit before tax by appr. NOK 0.3m (NOK 0.4m).Liquidity riskLiquidity risk is the potential loss arising from the Group\u2019s inability to meet its contractual obligations when due. The Group monitors its risk of a shortage of funds using cash flow forecasts. The Group had cash and cash equivalents of NOK 40.4m at 31 December 2022 (2021: NOK 43.8m).The following table detail the Group\u2019s remaining contractual maturity for its non-derivative financial liabilities with agreed repayment periods. The tables have been drawn based on the undiscounted cash flows of financial liabilities based on the most likely date on which the Group can be required to pay. The table include both interest and principal cash flows. To the extent that interest flows are floating rate, the undiscounted amount is derived from the interest rate curves at the end of the reporting period. The contractual maturity is based on the most likely date on which the Group may be required to pay, ref Note 10.The amounts presented are subject to change If changes in variable interest rates differ to those estimates of interest rates determined at the end of the reporting period.NOK thousand -6 months 6 months - 1 year 1-2 years 2-4 years 4+ years TotalInterest bearing loans 9 525 3 812 7 725 11 880 2 768 35 710Accounts payable 31 879 0 0 0 0 31 879Other current liabilities 40 056 43 912 0 0 0 83 968Total 81 460 47 725 7 725 11 880 2 768 151 558The Group closely monitor and follow the cash situation. During 2022, Arribatec carried out a private placement and a subsequent repair offer that brought in 51.8 million. The Group\u2019s cash situation, including proceeds from this capital increase, were minus 3.3 million. Furthermore, 2022 was a year bringing the different acquired units into one Group on common policies, structure and systems, with the intention to realize the synergizes and secure being cash positive.Financing riskTo support the Group\u2019s growth ambitions, the Group continuously work on securing necessary committed financing and alternative funding sources. Securing non-current financing at competitive terms is a major part of the Group\u2019s long-term liquidity planning.Capital managementThe primary objective of the Group\u2019s capital management is to ensure the Group maintains a solid capital structure enabling it to develop and build its business to maximize shareholder value. The Group\u2019s objective is to maintain a balance of financial assets that reflects the cash requirement of its operations and investments for the next twelve months. No change was made in the objectives, policies, or process for managing capital during the year ended 31 December 2022.",
"dimensions": {
"concept": "ifrs-full:ExplanationOfAssumptionAboutFutureWithSignificantRiskOfResultingInMaterialAdjustments",
"language": "en",
"entity": "scheme:5967007LIEEXZXFK0040",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"s7_notes__6__63": {
"value": "Note 4 Financial risksArribatec defines risk as all factors which could have a negative impact on the ability of the Group to achieve its business objectives. All economic activities are associated with risk. In order to manage risk in a balanced way, it must first be identified and assessed. Arribatec conducts risk management at both a Group and company level, where risks are evaluated in a systematic manner. The following summary is by no means comprehensive but offers an overview of all material financial risk factors which are considered important for Arribatec\u2019s future development.Risks associated with changes in economic conditions are managed through regular checks on developments in each country.Currency riskCurrency risk refers to the risk that the value of liquid and financial instruments may shift as a result of changes in exchange rates. Transactions in foreign currency (other than the unit\u2019s functional currency, which is NOK) are converted at the exchange rate on the transaction date. Monetary items in foreign currency are converted to NOK using the exchange rate at the balance sheet date. Non-monetary items measured at the historical rate expressed in a foreign currency are converted into NOK using the exchange rate on the transaction date.The currency risk is limited in Arribatec as few balance items are posted in foreign currency per 31.12.2022.Credit riskCredit risks are the risks that counterparty will not meet its obligations under a financial contract or customer contract, leading to a financial loss. The Group is exposed to credit risk from its operating activities, primarily related to cash and cash equivalents, trade receivables and contract assets from contracts with the customers and other receiv-ables.As part of the Group\u2019s earnings model, certain of its customers pays for software and services under a solutions as-a-software (SolaaS) arrangement, meaning that the customer is paying a monthly recurring sum for, inter alia, the software and services already provided or to be provided by the Group. As such, these customers\u2019 monthly recurring payment obligations also include payment for licenses and software already integrated and implemented, in addition to services related to continuous maintenance and consulting. This in contrast to e.g. software-as-a-service (SaaS) arrangements, where the customer in general pays a lump sum for the initial software integration and implementation, and subsequently only pays for services related to maintenance and consulting services. Although the Group has opted for this model to ensure some predictable long-term income, the Group is dependent on its customers having the ability and/or willing-ness to pay for the software and services already provided or to be provided. Customer credit risk is managed subject to established policies, procedures and controls relating to customer credit risk management. The maximum exposure to credit risk at the reporting date is the carrying value of each class of financial assets.The Company manage the credit risk by working closely with the customers. Additional cooperation and agreements are made with Partners like collection companies and credit check suppliers.Interest rate risksInterest risk is related to the risk the Group is exposed to from changes in the market\u2019s interest rate which can affect the net profit. The Group\u2019s main interest rate risk arises from long-term borrowings with variable rates, which amounted to NOK 31.2m on 31 December 2022 (2021: NOK 37.4m). The loan carries a variable interest rate based on the interbank rate in each currency with a margin. Any annualized increase or decrease by 100 basis point would increase/decrease the Groups profit before tax by appr. NOK 0.3m (NOK 0.4m).Liquidity riskLiquidity risk is the potential loss arising from the Group\u2019s inability to meet its contractual obligations when due. The Group monitors its risk of a shortage of funds using cash flow forecasts. The Group had cash and cash equivalents of NOK 40.4m at 31 December 2022 (2021: NOK 43.8m).The following table detail the Group\u2019s remaining contractual maturity for its non-derivative financial liabilities with agreed repayment periods. The tables have been drawn based on the undiscounted cash flows of financial liabilities based on the most likely date on which the Group can be required to pay. The table include both interest and principal cash flows. To the extent that interest flows are floating rate, the undiscounted amount is derived from the interest rate curves at the end of the reporting period. The contractual maturity is based on the most likely date on which the Group may be required to pay, ref Note 10.The amounts presented are subject to change If changes in variable interest rates differ to those estimates of interest rates determined at the end of the reporting period.NOK thousand -6 months 6 months - 1 year 1-2 years 2-4 years 4+ years TotalInterest bearing loans 9 525 3 812 7 725 11 880 2 768 35 710Accounts payable 31 879 0 0 0 0 31 879Other current liabilities 40 056 43 912 0 0 0 83 968Total 81 460 47 725 7 725 11 880 2 768 151 558The Group closely monitor and follow the cash situation. During 2022, Arribatec carried out a private placement and a subsequent repair offer that brought in 51.8 million. The Group\u2019s cash situation, including proceeds from this capital increase, were minus 3.3 million. Furthermore, 2022 was a year bringing the different acquired units into one Group on common policies, structure and systems, with the intention to realize the synergizes and secure being cash positive.Financing riskTo support the Group\u2019s growth ambitions, the Group continuously work on securing necessary committed financing and alternative funding sources. Securing non-current financing at competitive terms is a major part of the Group\u2019s long-term liquidity planning.Capital managementThe primary objective of the Group\u2019s capital management is to ensure the Group maintains a solid capital structure enabling it to develop and build its business to maximize shareholder value. The Group\u2019s objective is to maintain a balance of financial assets that reflects the cash requirement of its operations and investments for the next twelve months. No change was made in the objectives, policies, or process for managing capital during the year ended 31 December 2022.",
"dimensions": {
"concept": "ifrs-full:DisclosureOfFinancialRiskManagementExplanatory",
"language": "en",
"entity": "scheme:5967007LIEEXZXFK0040",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"s7_notes__6__67": {
"value": "Currency risk refers to the risk that the value of liquid and financial instruments may shift as a result of changes in exchange rates. Transactions in foreign currency (other than the unit\u2019s functional currency, which is NOK) are converted at the exchange rate on the transaction date. Monetary items in foreign currency are converted to NOK using the exchange rate at the balance sheet date. Non-monetary items measured at the historical rate expressed in a foreign currency are converted into NOK using the exchange rate on the transaction date.The currency risk is limited in Arribatec as few balance items are posted in foreign currency per 31.12.2022.",
"dimensions": {
"concept": "ifrs-full:DisclosureOfEffectOfChangesInForeignExchangeRatesExplanatory",
"language": "en",
"entity": "scheme:5967007LIEEXZXFK0040",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"s7_notes__6__65-1": {
"value": "Currency risk refers to the risk that the value of liquid and financial instruments may shift as a result of changes in exchange rates. Transactions in foreign currency (other than the unit\u2019s functional currency, which is NOK) are converted at the exchange rate on the transaction date. Monetary items in foreign currency are converted to NOK using the exchange rate at the balance sheet date. Non-monetary items measured at the historical rate expressed in a foreign currency are converted into NOK using the exchange rate on the transaction date.The currency risk is limited in Arribatec as few balance items are posted in foreign currency per 31.12.2022.Interest risk is related to the risk the Group is exposed to from changes in the market\u2019s interest rate which can affect the net profit. The Group\u2019s main interest rate risk arises from long-term borrowings with variable rates, which amounted to NOK 31.2m on 31 December 2022 (2021: NOK 37.4m). The loan carries a variable interest rate based on the interbank rate in each currency with a margin. Any annualized increase or decrease by 100 basis point would increase/decrease the Groups profit before tax by appr. NOK 0.3m (NOK 0.4m).",
"dimensions": {
"concept": "ifrs-full:DisclosureOfMarketRiskExplanatory",
"language": "en",
"entity": "scheme:5967007LIEEXZXFK0040",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"s7_notes__6__68": {
"value": "Credit risks are the risks that counterparty will not meet its obligations under a financial contract or customer contract, leading to a financial loss. The Group is exposed to credit risk from its operating activities, primarily related to cash and cash equivalents, trade receivables and contract assets from contracts with the customers and other receiv-ables.As part of the Group\u2019s earnings model, certain of its customers pays for software and services under a solutions as-a-software (SolaaS) arrangement, meaning that the customer is paying a monthly recurring sum for, inter alia, the software and services already provided or to be provided by the Group. As such, these customers\u2019 monthly recurring payment obligations also include payment for licenses and software already integrated and implemented, in addition to services related to continuous maintenance and consulting. This in contrast to e.g. software-as-a-service (SaaS) arrangements, where the customer in general pays a lump sum for the initial software integration and implementation, and subsequently only pays for services related to maintenance and consulting services. Although the Group has opted for this model to ensure some predictable long-term income, the Group is dependent on its customers having the ability and/or willing-ness to pay for the software and services already provided or to be provided. Customer credit risk is managed subject to established policies, procedures and controls relating to customer credit risk management. The maximum exposure to credit risk at the reporting date is the carrying value of each class of financial assets.The Company manage the credit risk by working closely with the customers. Additional cooperation and agreements are made with Partners like collection companies and credit check suppliers.",
"dimensions": {
"concept": "ifrs-full:DisclosureOfCreditRiskExplanatory",
"language": "en",
"entity": "scheme:5967007LIEEXZXFK0040",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"s7_notes__6__70": {
"value": "Liquidity risk is the potential loss arising from the Group\u2019s inability to meet its contractual obligations when due. The Group monitors its risk of a shortage of funds using cash flow forecasts. The Group had cash and cash equivalents of NOK 40.4m at 31 December 2022 (2021: NOK 43.8m).The following table detail the Group\u2019s remaining contractual maturity for its non-derivative financial liabilities with agreed repayment periods. The tables have been drawn based on the undiscounted cash flows of financial liabilities based on the most likely date on which the Group can be required to pay. The table include both interest and principal cash flows. To the extent that interest flows are floating rate, the undiscounted amount is derived from the interest rate curves at the end of the reporting period. The contractual maturity is based on the most likely date on which the Group may be required to pay, ref Note 10.The amounts presented are subject to change If changes in variable interest rates differ to those estimates of interest rates determined at the end of the reporting period.NOK thousand -6 months 6 months - 1 year 1-2 years 2-4 years 4+ years TotalInterest bearing loans 9 525 3 812 7 725 11 880 2 768 35 710Accounts payable 31 879 0 0 0 0 31 879Other current liabilities 40 056 43 912 0 0 0 83 968Total 81 460 47 725 7 725 11 880 2 768 151 558The Group closely monitor and follow the cash situation. During 2022, Arribatec carried out a private placement and a subsequent repair offer that brought in 51.8 million. The Group\u2019s cash situation, including proceeds from this capital increase, were minus 3.3 million. Furthermore, 2022 was a year bringing the different acquired units into one Group on common policies, structure and systems, with the intention to realize the synergizes and secure being cash positive.",
"dimensions": {
"concept": "ifrs-full:DisclosureOfLiquidityRiskExplanatory",
"language": "en",
"entity": "scheme:5967007LIEEXZXFK0040",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"s7_notes__6__69": {
"value": "Liquidity risk is the potential loss arising from the Group\u2019s inability to meet its contractual obligations when due. The Group monitors its risk of a shortage of funds using cash flow forecasts. The Group had cash and cash equivalents of NOK 40.4m at 31 December 2022 (2021: NOK 43.8m).The following table detail the Group\u2019s remaining contractual maturity for its non-derivative financial liabilities with agreed repayment periods. The tables have been drawn based on the undiscounted cash flows of financial liabilities based on the most likely date on which the Group can be required to pay. The table include both interest and principal cash flows. To the extent that interest flows are floating rate, the undiscounted amount is derived from the interest rate curves at the end of the reporting period. The contractual maturity is based on the most likely date on which the Group may be required to pay, ref Note 10.The amounts presented are subject to change If changes in variable interest rates differ to those estimates of interest rates determined at the end of the reporting period.NOK thousand -6 months 6 months - 1 year 1-2 years 2-4 years 4+ years TotalInterest bearing loans 9 525 3 812 7 725 11 880 2 768 35 710Accounts payable 31 879 0 0 0 0 31 879Other current liabilities 40 056 43 912 0 0 0 83 968Total 81 460 47 725 7 725 11 880 2 768 151 558The Group closely monitor and follow the cash situation. During 2022, Arribatec carried out a private placement and a subsequent repair offer that brought in 51.8 million. The Group\u2019s cash situation, including proceeds from this capital increase, were minus 3.3 million. Furthermore, 2022 was a year bringing the different acquired units into one Group on common policies, structure and systems, with the intention to realize the synergizes and secure being cash positive.",
"dimensions": {
"concept": "ifrs-full:DisclosureOfCashFlowStatementExplanatory",
"language": "en",
"entity": "scheme:5967007LIEEXZXFK0040",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"s7_notes__6__71": {
"value": "The primary objective of the Group\u2019s capital management is to ensure the Group maintains a solid capital structure enabling it to develop and build its business to maximize shareholder value. The Group\u2019s objective is to maintain a balance of financial assets that reflects the cash requirement of its operations and investments for the next twelve months. No change was made in the objectives, policies, or process for managing capital during the year ended 31 December 2022.",
"dimensions": {
"concept": "ifrs-full:DisclosureOfObjectivesPoliciesAndProcessesForManagingCapitalExplanatory",
"language": "en",
"entity": "scheme:5967007LIEEXZXFK0040",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"s7_notes__6__73": {
"value": "Note 5 SegmentThe market for Arribatec\u2019s Software and services are global. The chief decision maker will therefore follow up revenue and profitability on a global basis, segmented into the Business Areas. This is consistent with the internal reporting submitted to the chief operating decision maker, defined as the Management Group. The Management Group is responsible for allocating resources and assessing performance as well as making strategic decisions. Principles of revenue recognition are stated in accounting principles Note 2.6.SegmentThe management of the Group follows up the revenue by Business Area and geography. During 2022, segment reporting was imple-mented and for comparable 2021 figures, estimates have been applied, ref table below.Business services is focusing on ERP, BI & Analytics, DevOps, integra-tions and software solutions for research institutes. Arribatec Business services provide simplicity by implementing, customizing, maintaining and supporting the entire business landscape, with ERP as the core engine. We integrate it with other marked leading systems that provide better operational support and insight than a single ERP system does.EA & BPM provides Enterprise Architecture and Business Process Management. Arribatec EA&BPM delivers solutions and long-term services within the spaces of business process management, enter-prise architecture and corporate governance to major Norwegian and Nordic customers, both in the private and public sector.Cloud provides cloud services such as hosting IT infrastructure within f ex hybrid, Azure, Splunk and GDPR. Arribatec Cloud provides consulting, outsourcing and cloud services to private and public enterprises. In addition to offering market leading cloud services from Microsoft and Google, Arribatec Cloud also operates its own public cloud offering based on Norwegian data centers to accommodate special use cases for our customers.Hospitality delivers solutions for self-check-in/check-out and payments for the hospitality industry.Marine is the Business Area of Arribatec Group focusing on the Maritime sector. Arribatec Marine competences are the development, implementation, and consulting of the owned asset management system solutions: Infoship.2022Corporate/ NOK thousand Business services EA & BPM Cloud Hospitality MarineOther Eliminations TotalRevenue 291 362 89 789 113 726 3 642 47 066 1 166 (41 781) 504 968Materials, software and services (64 177) (19 812) (48 862) 1 948 (6 365) (17 561) 39 794 (115 035)Gross margin 227 185 69 977 64 864 5 590 40 701 (16 395) (1 988) 389 934Salary and personnel costs (177 970) (52 108) (41 291) (10 192) (39 066) (18 172) 0 (338 800)Other operating expenses (21 768) (5 437) (22 031) (3 678) (11 702) (22 613) 1 988 (85 241)Total operating expenses (199 739) (57 545) (63 322) (13 870) (50 768) (40 785) 1 988 (424 041)EBITDA 27 446 12 432 1 542 (8 280) (10 067) (57 180) 0 (34 107)Depreciation, amortization and impairment (15 110) (5 707) (7 116) (2 762) (14 696) (10 842) 0 (56 232)EBIT 12 336 6 725 (5 573) (11 042) (24 764) (68 022) 0 (90 339)Net financial items (331) (9) (357) (223) 74 757 0 (89)Profit/(loss) before tax 12 005 6 717 (5 931) (11 265) (24 690) (67 265) 0 (90 428)Gross margin % 78.0% 77.9% 57.0% 153.5% 86.5% na na 77.2%EBITDA % 9.4% 13.8% 1.4% (227.4%) (21.4%) na na (6.8%)2021Corporate/ NOK thousand Business services EA & BPM Cloud Hospitality MarineOther Eliminations TotalRevenue 223 390 72 967 87 673 1 097 49 540 0 (20 729) 413 938Materials, software and services (44 260) (13 597) (42 505) (1 003) (5 550) 0 14 055 (92 859)Gross margin 179 130 59 371 45 168 94 43 990 0 (6 673) 321 079Salary and personnel costs (154 807) (43 288) (27 264) (7 050) (39 594) (1 846) 1 170 (272 679)Other operating expenses (11 036) (4 621) (7 165) (3 273) (11 024) (23 585) 5 503 (55 201)Total operating expenses (165 842) (47 909) (34 429) (10 323) (50 618) (25 431) 6 673 (327 879)EBITDA 13 288 11 462 10 739 (10 229) (6 628) (25 431) 0 (6 800)Depreciation, amortization and impairment (4 247) (1 324) (6 310) (1 432) (8 747) (20 910) 0 (42 970)EBIT 9 041 10 138 4 429 (11 661) (15 374) (46 341) 0 (49 770)Net financial items (8 765) 100 (516) (235) (2 478) 8 004 0 (3 890)Profit/(loss) before tax 276 10 238 3 913 (11 896) (17 853) (38 337) 0 (53 660)Gross margin % 80.2% 81.4% 51.5% 8.6% 88.8% na na 77.6%EBITDA % 5.9% 15.7% 12.2% (932.4%) (13.4%) na na (1.6%)Disaggregation of revenueIn the following table, revenue is disaggregated by primary service line, geography and recurrence. In presenting the geographic information, revenue has been based on the geographic location of legal entity.2022NOK thousand Consulting services Recurring Revenue One-time revenue TotalNorway 140 157 149 666 15 472 305 295Europe 129 395 27 911 5 819 163 126Americas 28 902 6 917 728 36 548Total revenue 298 454 184 495 22 019 504 9692021NOK thousand Consulting services Recurring Revenue One-time revenue TotalNorway 131 872 126 924 14 877 273 672Europe 92 742 14 345 4 211 111 297Americas 23 355 4 313 1 301 28 968Total revenue 247 969 145 581 20 388 413 9382022NOK thousand Consulting services Recurring Revenue One-time revenue TotalBusiness services 196 857 66 727 1 917 265 501EA & BPM 59 512 23 995 5 402 88 909Cloud 13 966 78 095 8 170 100 230Hospitality 1 253 1 286 1 023 3 562Marine 26 866 14 401 5 506 46 773Corporate/Other 0 (8) 0 (8)Total revenue 298 454 184 495 22 019 504 9682021NOK thousand Consulting services Recurring Revenue One-time revenue TotalBusiness services 156 481 50 613 2 569 209 663EA & BPM 51 073 15 219 4 942 71 234Cloud 10 376 64 393 7 887 82 656Hospitality 0 192 905 1 097Marine 30 039 15 164 4 086 49 289Total revenue 247 969 145 581 20 388 413 938",
"dimensions": {
"concept": "ifrs-full:DisclosureOfEntitysReportableSegmentsExplanatory",
"language": "en",
"entity": "scheme:5967007LIEEXZXFK0040",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"s7_notes__6__72": {
"value": "The market for Arribatec\u2019s Software and services are global. The chief decision maker will therefore follow up revenue and profitability on a global basis, segmented into the Business Areas. This is consistent with the internal reporting submitted to the chief operating decision maker, defined as the Management Group. The Management Group is responsible for allocating resources and assessing performance as well as making strategic decisions. Principles of revenue recognition are stated in accounting principles Note 2.6.SegmentThe management of the Group follows up the revenue by Business Area and geography. During 2022, segment reporting was imple-mented and for comparable 2021 figures, estimates have been applied, ref table below.Business services is focusing on ERP, BI & Analytics, DevOps, integra-tions and software solutions for research institutes. Arribatec Business services provide simplicity by implementing, customizing, maintaining and supporting the entire business landscape, with ERP as the core engine. We integrate it with other marked leading systems that provide better operational support and insight than a single ERP system does.EA & BPM provides Enterprise Architecture and Business Process Management. Arribatec EA&BPM delivers solutions and long-term services within the spaces of business process management, enter-prise architecture and corporate governance to major Norwegian and Nordic customers, both in the private and public sector.Cloud provides cloud services such as hosting IT infrastructure within f ex hybrid, Azure, Splunk and GDPR. Arribatec Cloud provides consulting, outsourcing and cloud services to private and public enterprises. In addition to offering market leading cloud services from Microsoft and Google, Arribatec Cloud also operates its own public cloud offering based on Norwegian data centers to accommodate special use cases for our customers.Hospitality delivers solutions for self-check-in/check-out and payments for the hospitality industry.Marine is the Business Area of Arribatec Group focusing on the Maritime sector. Arribatec Marine competences are the development, implementation, and consulting of the owned asset management system solutions: Infoship.",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForSegmentReportingExplanatory",
"language": "en",
"entity": "scheme:5967007LIEEXZXFK0040",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"s7_notes__6__75": {
"value": "Disaggregation of revenueIn the following table, revenue is disaggregated by primary service line, geography and recurrence. In presenting the geographic information, revenue has been based on the geographic location of legal entity.",
"dimensions": {
"concept": "ifrs-full:DisclosureOfOtherOperatingIncomeExplanatory",
"language": "en",
"entity": "scheme:5967007LIEEXZXFK0040",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"s7_notes__6__78-1": {
"value": "Note 6 Materials, software and servicesNOK thousand 2022 2021Hired consultans (48 851) (29 889)Hardware for resale (7 738) (8 382)Software for resale (58 212) (45 539)Other (234) (9 049)Total materials, software and services (115 035) (92 859)Note 9 Other operating expenseNOK thousand 2022 2021Marketing cost (4 385) (5 534) 1Rental and leasing cost(8 750) (5 971)Travel cost (7 929) (5 223)Fees for external services (29 261) (21 537)IT and communication cost (19 829) (13 237)Loss on sale of intangible fixed assets (4 241) 0 2Other operating cost(10 846) (3 697)Total operating expenses (85 241) (55 201)1 Includes common cost related to premises, such as electricity, cleaning, moving cost and contracts not material to IFRS162 Includes coursing, respresentation cost, mobile useage for emplyees, insurance premiums and other office expenseNOK thousand 2022 2021Specification of auditor\u2019s feeStatutory audit (2 988) (1 107)Other assurance services (62) (749)Other non-assurance services (306) 0Total (3 355) (1 857)",
"dimensions": {
"concept": "ifrs-full:DisclosureOfOtherOperatingExpenseExplanatory",
"language": "en",
"entity": "scheme:5967007LIEEXZXFK0040",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"s7_notes__6__77-1": {
"value": "Note 6 Materials, software and servicesNOK thousand 2022 2021Hired consultans (48 851) (29 889)Hardware for resale (7 738) (8 382)Software for resale (58 212) (45 539)Other (234) (9 049)Total materials, software and services (115 035) (92 859)Note 9 Other operating expenseNOK thousand 2022 2021Marketing cost (4 385) (5 534) 1Rental and leasing cost(8 750) (5 971)Travel cost (7 929) (5 223)Fees for external services (29 261) (21 537)IT and communication cost (19 829) (13 237)Loss on sale of intangible fixed assets (4 241) 0 2Other operating cost(10 846) (3 697)Total operating expenses (85 241) (55 201)1 Includes common cost related to premises, such as electricity, cleaning, moving cost and contracts not material to IFRS162 Includes coursing, respresentation cost, mobile useage for emplyees, insurance premiums and other office expenseNOK thousand 2022 2021Specification of auditor\u2019s feeStatutory audit (2 988) (1 107)Other assurance services (62) (749)Other non-assurance services (306) 0Total (3 355) (1 857)",
"dimensions": {
"concept": "ifrs-full:DisclosureOfExpensesByNatureExplanatory",
"language": "en",
"entity": "scheme:5967007LIEEXZXFK0040",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"s7_notes__6__76-1": {
"value": "Note 6 Materials, software and servicesNOK thousand 2022 2021Hired consultans (48 851) (29 889)Hardware for resale (7 738) (8 382)Software for resale (58 212) (45 539)Other (234) (9 049)Total materials, software and services (115 035) (92 859)Note 9 Other operating expenseNOK thousand 2022 2021Marketing cost (4 385) (5 534) 1Rental and leasing cost(8 750) (5 971)Travel cost (7 929) (5 223)Fees for external services (29 261) (21 537)IT and communication cost (19 829) (13 237)Loss on sale of intangible fixed assets (4 241) 0 2Other operating cost(10 846) (3 697)Total operating expenses (85 241) (55 201)1 Includes common cost related to premises, such as electricity, cleaning, moving cost and contracts not material to IFRS162 Includes coursing, respresentation cost, mobile useage for emplyees, insurance premiums and other office expenseNOK thousand 2022 2021Specification of auditor\u2019s feeStatutory audit (2 988) (1 107)Other assurance services (62) (749)Other non-assurance services (306) 0Total (3 355) (1 857)",
"dimensions": {
"concept": "ifrs-full:DisclosureOfExpensesExplanatory",
"language": "en",
"entity": "scheme:5967007LIEEXZXFK0040",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"s7_notes__6__79": {
"value": "Note 7 PersonnelNOK thousand 2022 2021Salaries (256 568) (205 315)Social security tax (38 407) (40 413)Bonuses (6 878) (8 110)Pension costs defined contribution (Note 27) (19 337) (14 268)Other personnel cost (17 609) (4 573)Total salaries and personnel expense (338 800) (272 679)Average number of FTEs2022 2021Number os FTEs, start of year 374 171Number os FTEs, end of year 353 374Average number of FTEs 363 273Gender split, end of yearMale 233 262Female 120 112Number of FTEs, end of year, per country2022 2021Belgium 1 1Cyprus 3 3Denmark 1 1France 2 1Germany 3 5Italy 35 65Norway 204 200Netherlands 1 0Poland 7 13Singapore 2 1Spain 26 17Sweden 22 22United Kingdom 31 30USA 15 15Total number of FTEs 353 374",
"dimensions": {
"concept": "ifrs-full:DisclosureOfInformationAboutEmployeesExplanatory",
"language": "en",
"entity": "scheme:5967007LIEEXZXFK0040",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"s7_notes__6__80": {
"value": "Note 8 Key managementThe Group Management consists of the Group Directors. Group Directors are the CEO, COO, CFO, CP&OO director and CCO that are all employed by the parent company. The IT Director is employed by one of the subsidiaries.Compensation to the management during the year is detailed in the table to the right. Amounts presented are part of the remuneration for the Group management role.The Group CEO has a three-month notice period and is entitled to a severance pay for twelve months in case of termination initiated by the company. None of the Board members or the CEO have executive loans or guarantees in the company.Management remuneration 2022Audit Board committee Benefits Pension Total NOK thousandremunerationremuneration Salary Bonusin kindcostremunerationManagementGeir Johansen - CEO 0 0 2 700 0 11 90 2 800Ole Jakob Kj\u00f8lvik - COO 0 0 1 500 0 16 90 1 606Bente Brocks - CFO (interim) 0 0 1 680 0 11 90 1 781Erik Sundet - Group IT director (50% mgmt) 0 0 993 48 21 69 1 132P\u00e5l Stueflotten - CCO (from May-22) 0 0 800 0 74 56 930Solfrid Bu\u00f8 - Chief People & Organisation Officer(from Nov-22) 0 0 217 0 3 15 235Grete Thomassen - HR director (to Apr-22) 0 0 400 0 4 28 432Espen Karsrud - Group EVP Business Development (to Apr-22) 0 0 500 0 4 35 539Management total 0 0 8 790 48 144 473 9 455Members of the BoardMartin Nes (Chairman) 279 20 0 0 0 0 300\u00d8ystein S. Spetalen (Member) 217 0 0 0 0 0 217Kristin Hellebust (Member) 217 18 0 0 0 0 234Henrik Lie-Nielsen (Member) 217 18 0 0 0 0 234Linn Katrine H\u00f8ie (Member) (from May-22) 117 0 0 0 0 0 117Yvonne Litsheim Sandvold (Member) (to May-22) 100 0 0 0 0 0 100Members of the Board total 1 146 55 0 0 0 0 1 201Total salaries and personnel expense 1 146 55 8 790 48 144 473 10 656Management remuneration 2021Audit Board committee Benefits Pension Total NOK thousandremunerationremuneration Salary Bonusin kindcostremunerationManagementPer Ronny Stav - CEO 0 0 3 235 0 13 89 3 338Jhonny Sharma - COO 0 0 2 439 0 11 89 2 539Geir Johansen - CFO 0 0 2 243 0 9 89 2 341Grete Thomassen - HR director (from May 2021) 0 0 846 0 12 84 942Ole Jakob Kj\u00f8lvik - Strategy Director (from December 2021) 0 0 125 0 1 0 126Espen Karsrud - Group EVP Business Development (from November 2021) 0 0 300 0 3 0 303Else Thoresen - HR director (until March 2021) 0 0 438 0 3 22 463Management total 0 0 9 627 0 51 374 10 052Members of the BoardMartin Nes (Chairman) 267 0 0 0 0 0 267\u00d8ystein S. Spetalen (Member) 200 0 0 0 0 0 200Kristin Hellebust (Member) 150 0 0 0 0 0 150Henrik Lie-Nielsen (Member) 150 0 0 0 0 0 150Yvonne Listheim Sandvold (Member) 200 0 0 0 0 0 200Members of the Board total 967 0 0 0 0 0 967Total salaries and personnel expense 967 0 9 627 0 51 374 11 019The following remuneration has been made to the members of the nomination committee during the year:NOK thousand 2022 2021Nomination committeeEspen Lundaas (head) 40 0\u00d8ystein Tvenge (member) 0 0Total 40 0",
"dimensions": {
"concept": "ifrs-full:DisclosureOfInformationAboutKeyManagementPersonnelExplanatory",
"language": "en",
"entity": "scheme:5967007LIEEXZXFK0040",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"s7_notes__6__81": {
"value": "Note 9 Other operating expenseNOK thousand 2022 2021Marketing cost (4 385) (5 534) 1Rental and leasing cost(8 750) (5 971)Travel cost (7 929) (5 223)Fees for external services (29 261) (21 537)IT and communication cost (19 829) (13 237)Loss on sale of intangible fixed assets (4 241) 0 2Other operating cost(10 846) (3 697)Total operating expenses (85 241) (55 201)1 Includes common cost related to premises, such as electricity, cleaning, moving cost and contracts not material to IFRS162 Includes coursing, respresentation cost, mobile useage for emplyees, insurance premiums and other office expenseNOK thousand 2022 2021Specification of auditor\u2019s feeStatutory audit (2 988) (1 107)Other assurance services (62) (749)Other non-assurance services (306) 0Total (3 355) (1 857)",
"dimensions": {
"concept": "ifrs-full:DisclosureOfAuditorsRemunerationExplanatory",
"language": "en",
"entity": "scheme:5967007LIEEXZXFK0040",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"s7_notes__6__85-1": {
"value": "Note 10 Property, plant and equipment2022Fixtures and NOK thousand Office equipmentfittings Other TotalCost at 1 Jan 2022 18 819 3 572 1 239 23 631Additions 788 1 147 29 1 964Reclassifications (2 468) 267 757 (1 444)Sale (370) (14) (160) (545)Disposals (426) 0 (117) (543)Translation difference 442 56 89 587Cost, end of period 16 785 5 028 1 837 23 650Accumulated depreciation at 1 January 2022 (13 943) (1 463) (779) (16 185)Depreciation during the year (1 634) (701) (170) (2 505)Reclassifications 1 511 (143) (145) 1 224Sale 294 5 132 431Disposals 335 (0) 45 381Translation difference (405) (30) (43) (478)Accumulated depreciation, end of period (13 842) (2 331) (959) (17 133)Carrying amount at 31 Dec 2022 2 942 2 697 877 6 517Useful life 5-10 yrs 5 yrs 5 yrs2021Fixtures and NOK thousand Office equipmentfittings Other TotalCost at 1 January 2021 9 367 748 0 10 114Additions 2 760 626 58 3 443 1From business combinations8 399 1 175 1 792 11 366Reclassifications (1 573) 1 286 287 0Disposals (331) (352) (905) (1 588)Translation difference 198 89 8 295Cost, end of period 18 819 3 572 1 239 23 631Accumulated depreciation at 1 January 2021 (6 707) (150) 0 (6 857) 1From business combinations(7 086) (252) (1 253) (8 591)Depreciation during the year (1 510) (523) (186) (2 219)Reclassifications 953 (861) (92) 0Disposals 302 352 768 1 422Translation difference 105 (30) (15) 59Accumulated depreciation, end of period (13 943) (1 463) (779) (16 185)Carrying amount at 31 Dec 2021 4 876 2 109 460 7 445Useful life 5-10 yrs 5 yrs 5 yrs1 Ref Note 18, Business combinationsNote 12 Intangible assets2022Other intangible Other intangible Other intangible assets; assets; assets; NOK thousand Goodwill Customer relationsCustom softwareTechnical softwareLicenses TotalCost at 1 Jan 2022 205 279 57 526 29 975 54 353 4 979 352 112Additions 0 0 887 0 1 240 2 127Additions - internally developed 0 0 11 755 0 0 11 755Less government grants 0 0 (1 006) 0 0 (1 006) 1Reclassifications0 (691) 44 003 (32 619) 1 551 12 244Sale of asset (910) 0 0 (9 202) 0 (10 113)Disposals 0 0 (35 302) 0 0 (35 302)Translation difference 213 (36) 1 570 1 122 (17) 2 852Cost, end of period 204 581 56 799 51 883 13 654 7 752 334 669Accumulated amortizations at 1 Jan 2022 0 (11 495) (10 093) (13 523) (643) (35 755)Amortization 0 (11 360) (13 962) (3 887) (1 689) (30 898)Impairment 0 0 (5 606) 0 0 (5 606) 1Reclassifications0 691 (19 283) 7 614 (1 054) (12 032)Sale of asset 0 0 0 3 527 0 3 527Disposals 0 0 28 408 0 0 28 408Translation difference 0 2 (754) (416) 6 (1 163)Accumulated amortization and impairment, end of period 0 (22 162) (21 290) (6 684) (3 381) (53 517)Carrying amount at 31 Dec 2022 204 581 34 637 30 593 6 969 4 372 281 152Useful life Infinite 5 yrs 5\u201310 yrs 5 yrs 3\u201310 yrs1 Reclassifications made between categoriesThe development expenditures that do not meet the criteria for capitalization are recognized as salary and personnel expenses and other operating expenses in profit and loss. The Group has received government grants related to development of software of NOK 1.0m (NOK 1.4m). The grants have been subtracted from the carrying amount of internally generated software.Impairment of custom software of NOK 5.6m and relates to:Restructuring of different IP in Marine Italy of 3.4m, impairment of excessed value in connection with the closing of business in Germany of NOK 0.9m, Closing of product lines like Certify in Hospitality NOK 0.8m and other add-on products of NOK 0.5m.In December, BA Marine divested certain software IP and associated assets together with twelve employees. The effect from the sale and the de-recognition of the assets ended with a loss from sale of NOK 4m and positive cash flow of NOK 9.3m. The effect is presented in Other operating cost in statement of Profit and Loss.Referring to PPA (Purchase Price Allocation) from business combina-tion Note 17. For Impairment testing on Goodwill, see Note 16.2021Other intangible Other intangible Other intangible assets; assets; assets; NOK thousand Goodwill Customer relationsCustom softwareTechnical softwareLicenses TotalCost at 1 Jan 2021 93 827 15 529 12 568 1 000 10 018 132 942Adjustment of opening balance 0 700 (700) 0 0 0Additions 0 0 826 153 4 876 5 855Additions - internally developed 0 0 10 316 9 390 0 19 706 1 From business combinations111 282 40 972 1 116 42 167 0 195 537Reclassifications 0 0 6 613 3 773 (10 386) 0Less government grants 0 0 (725) (713) 0 (1 438)Translation difference 170 325 (39) (1 416) 470 (489)Cost, end of period 205 279 57 526 29 975 54 353 4 979 352 112Accumulated amortizations at 1 Jan 2021 0 (3 084) (1 807) (667) (2 102) (7 660)Amortization 0 (8 411) (3 091) (11 335) (1 898) (24 735)Reclassifications 0 0 (1 836) (1 521) 3 357 0Impairment 0 0 (3 359) 0 0 (3 359)Accumulated amortization and impairment, end of period 0 (11 495) (10 093) (13 523) (643) (35 755)Carrying amount at 31 Dec 2021 205 279 46 031 19 882 40 830 4 336 316 358Useful life Infinite 5 yrs 5\u201310 yrs 5 yrs 3\u201310 yrs1 Ref Note 8, Business combinations",
"dimensions": {
"concept": "ifrs-full:DisclosureOfDepreciationAndAmortisationExpenseExplanatory",
"language": "en",
"entity": "scheme:5967007LIEEXZXFK0040",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"s7_notes__6__87": {
"value": "Note 11 Right-of-use assets and lease liabilitiesRight-of-use assetsNOK thousand Buildings Vehicles Hardware Other TotalRight-of-use assets per 1 Jan 2021 15 867 143 0 4 757 20 768Addition of right-of-use assets 9 446 678 4 560 7 817 22 501Depreciation in the period (6 833) (233) (1 421) (4 170) (12 656)Reclassification 0 (143) 0 143 0Translation difference (331) (16) 0 0 (347)Right-of-use assets per 1 Jan 2022 18 149 430 3 139 8 548 30 266Addition of right-of-use assets 18 336 0 37 9 836 28 209Depreciation in the period (10 791) (345) (1 561) (4 518) (17 215)Reclassification between categories 6 631 1 191 (6 822) 0Translation difference 447 3 9 0 459Carrying amount of right-of-use assets, end of period 32 773 89 1 814 7 043 41 719Remaining lease term 1-5 years 1-4 years 1-3 years 1-3 yearsDepreciation method Linear Linear Linear LinearContracts not material to IFRS 16 are expensed in P&L as they occur. See Note 2.14 for more information of contracts classified as leasing contracts.Lease liabilitiesNOK thousand 31 Dec 2022Undiscounted lease liabilities and maturity of cash outflow< 1 year 17 7821-2 years 12 4352-3 years 8 3063-4 years 4 8114-5 years 1 566> 5 years 621Total undiscounted lease liabilities, end of period 45 521Discount element (2 028)Total discounted lease liabilities, end of period 43 492NOK thousand 2022 2021Total lease liabilities, end of period 43 492 31 494The interest rate used for discounting the lease liability is based on the same as according to the terms of interest rate from the Group\u2019s external financing. See Note 13 for interest expense related to leasing contracts.",
"dimensions": {
"concept": "ifrs-full:DisclosureOfLeasesExplanatory",
"language": "en",
"entity": "scheme:5967007LIEEXZXFK0040",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"s7_notes__6__89": {
"value": "Note 12 Intangible assets2022Other intangible Other intangible Other intangible assets; assets; assets; NOK thousand Goodwill Customer relationsCustom softwareTechnical softwareLicenses TotalCost at 1 Jan 2022 205 279 57 526 29 975 54 353 4 979 352 112Additions 0 0 887 0 1 240 2 127Additions - internally developed 0 0 11 755 0 0 11 755Less government grants 0 0 (1 006) 0 0 (1 006) 1Reclassifications0 (691) 44 003 (32 619) 1 551 12 244Sale of asset (910) 0 0 (9 202) 0 (10 113)Disposals 0 0 (35 302) 0 0 (35 302)Translation difference 213 (36) 1 570 1 122 (17) 2 852Cost, end of period 204 581 56 799 51 883 13 654 7 752 334 669Accumulated amortizations at 1 Jan 2022 0 (11 495) (10 093) (13 523) (643) (35 755)Amortization 0 (11 360) (13 962) (3 887) (1 689) (30 898)Impairment 0 0 (5 606) 0 0 (5 606) 1Reclassifications0 691 (19 283) 7 614 (1 054) (12 032)Sale of asset 0 0 0 3 527 0 3 527Disposals 0 0 28 408 0 0 28 408Translation difference 0 2 (754) (416) 6 (1 163)Accumulated amortization and impairment, end of period 0 (22 162) (21 290) (6 684) (3 381) (53 517)Carrying amount at 31 Dec 2022 204 581 34 637 30 593 6 969 4 372 281 152Useful life Infinite 5 yrs 5\u201310 yrs 5 yrs 3\u201310 yrs1 Reclassifications made between categoriesThe development expenditures that do not meet the criteria for capitalization are recognized as salary and personnel expenses and other operating expenses in profit and loss. The Group has received government grants related to development of software of NOK 1.0m (NOK 1.4m). The grants have been subtracted from the carrying amount of internally generated software.Impairment of custom software of NOK 5.6m and relates to:Restructuring of different IP in Marine Italy of 3.4m, impairment of excessed value in connection with the closing of business in Germany of NOK 0.9m, Closing of product lines like Certify in Hospitality NOK 0.8m and other add-on products of NOK 0.5m.In December, BA Marine divested certain software IP and associated assets together with twelve employees. The effect from the sale and the de-recognition of the assets ended with a loss from sale of NOK 4m and positive cash flow of NOK 9.3m. The effect is presented in Other operating cost in statement of Profit and Loss.Referring to PPA (Purchase Price Allocation) from business combina-tion Note 17. For Impairment testing on Goodwill, see Note 16.2021Other intangible Other intangible Other intangible assets; assets; assets; NOK thousand Goodwill Customer relationsCustom softwareTechnical softwareLicenses TotalCost at 1 Jan 2021 93 827 15 529 12 568 1 000 10 018 132 942Adjustment of opening balance 0 700 (700) 0 0 0Additions 0 0 826 153 4 876 5 855Additions - internally developed 0 0 10 316 9 390 0 19 706 1 From business combinations111 282 40 972 1 116 42 167 0 195 537Reclassifications 0 0 6 613 3 773 (10 386) 0Less government grants 0 0 (725) (713) 0 (1 438)Translation difference 170 325 (39) (1 416) 470 (489)Cost, end of period 205 279 57 526 29 975 54 353 4 979 352 112Accumulated amortizations at 1 Jan 2021 0 (3 084) (1 807) (667) (2 102) (7 660)Amortization 0 (8 411) (3 091) (11 335) (1 898) (24 735)Reclassifications 0 0 (1 836) (1 521) 3 357 0Impairment 0 0 (3 359) 0 0 (3 359)Accumulated amortization and impairment, end of period 0 (11 495) (10 093) (13 523) (643) (35 755)Carrying amount at 31 Dec 2021 205 279 46 031 19 882 40 830 4 336 316 358Useful life Infinite 5 yrs 5\u201310 yrs 5 yrs 3\u201310 yrs1 Ref Note 8, Business combinations",
"dimensions": {
"concept": "ifrs-full:DisclosureOfIntangibleAssetsExplanatory",
"language": "en",
"entity": "scheme:5967007LIEEXZXFK0040",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"s7_notes__6__88": {
"value": "Note 12 Intangible assets2022Other intangible Other intangible Other intangible assets; assets; assets; NOK thousand Goodwill Customer relationsCustom softwareTechnical softwareLicenses TotalCost at 1 Jan 2022 205 279 57 526 29 975 54 353 4 979 352 112Additions 0 0 887 0 1 240 2 127Additions - internally developed 0 0 11 755 0 0 11 755Less government grants 0 0 (1 006) 0 0 (1 006) 1Reclassifications0 (691) 44 003 (32 619) 1 551 12 244Sale of asset (910) 0 0 (9 202) 0 (10 113)Disposals 0 0 (35 302) 0 0 (35 302)Translation difference 213 (36) 1 570 1 122 (17) 2 852Cost, end of period 204 581 56 799 51 883 13 654 7 752 334 669Accumulated amortizations at 1 Jan 2022 0 (11 495) (10 093) (13 523) (643) (35 755)Amortization 0 (11 360) (13 962) (3 887) (1 689) (30 898)Impairment 0 0 (5 606) 0 0 (5 606) 1Reclassifications0 691 (19 283) 7 614 (1 054) (12 032)Sale of asset 0 0 0 3 527 0 3 527Disposals 0 0 28 408 0 0 28 408Translation difference 0 2 (754) (416) 6 (1 163)Accumulated amortization and impairment, end of period 0 (22 162) (21 290) (6 684) (3 381) (53 517)Carrying amount at 31 Dec 2022 204 581 34 637 30 593 6 969 4 372 281 152Useful life Infinite 5 yrs 5\u201310 yrs 5 yrs 3\u201310 yrs1 Reclassifications made between categoriesThe development expenditures that do not meet the criteria for capitalization are recognized as salary and personnel expenses and other operating expenses in profit and loss. The Group has received government grants related to development of software of NOK 1.0m (NOK 1.4m). The grants have been subtracted from the carrying amount of internally generated software.Impairment of custom software of NOK 5.6m and relates to:Restructuring of different IP in Marine Italy of 3.4m, impairment of excessed value in connection with the closing of business in Germany of NOK 0.9m, Closing of product lines like Certify in Hospitality NOK 0.8m and other add-on products of NOK 0.5m.In December, BA Marine divested certain software IP and associated assets together with twelve employees. The effect from the sale and the de-recognition of the assets ended with a loss from sale of NOK 4m and positive cash flow of NOK 9.3m. The effect is presented in Other operating cost in statement of Profit and Loss.Referring to PPA (Purchase Price Allocation) from business combina-tion Note 17. For Impairment testing on Goodwill, see Note 16.2021Other intangible Other intangible Other intangible assets; assets; assets; NOK thousand Goodwill Customer relationsCustom softwareTechnical softwareLicenses TotalCost at 1 Jan 2021 93 827 15 529 12 568 1 000 10 018 132 942Adjustment of opening balance 0 700 (700) 0 0 0Additions 0 0 826 153 4 876 5 855Additions - internally developed 0 0 10 316 9 390 0 19 706 1 From business combinations111 282 40 972 1 116 42 167 0 195 537Reclassifications 0 0 6 613 3 773 (10 386) 0Less government grants 0 0 (725) (713) 0 (1 438)Translation difference 170 325 (39) (1 416) 470 (489)Cost, end of period 205 279 57 526 29 975 54 353 4 979 352 112Accumulated amortizations at 1 Jan 2021 0 (3 084) (1 807) (667) (2 102) (7 660)Amortization 0 (8 411) (3 091) (11 335) (1 898) (24 735)Reclassifications 0 0 (1 836) (1 521) 3 357 0Impairment 0 0 (3 359) 0 0 (3 359)Accumulated amortization and impairment, end of period 0 (11 495) (10 093) (13 523) (643) (35 755)Carrying amount at 31 Dec 2021 205 279 46 031 19 882 40 830 4 336 316 358Useful life Infinite 5 yrs 5\u201310 yrs 5 yrs 3\u201310 yrs1 Ref Note 8, Business combinations",
"dimensions": {
"concept": "ifrs-full:DisclosureOfIntangibleAssetsAndGoodwillExplanatory",
"language": "en",
"entity": "scheme:5967007LIEEXZXFK0040",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"s7_notes__6__96": {
"value": "Note 13 Financial itemsFinance incomeNOK thousand 2022 2021Interest income 291 259Realized foreign exchange gains 2 153 2 193Net unrealized foreign exchange gains 1 522 0Other financial income 1 225 146Total financial income 5 191 2 598Finance expensesNOK thousand 2022 2021Interest on debts and borrowings (697) (1 872)Interest expense on lease liabilities (1 236) (1 079)Realized foreign exchange losses (1 998) (1 821)Net unrealized foreign exchange losses 0 (979)Other financial expenses (1 350) (736)Total financial expenses (5 280) (6 487)Net financial items (89) (3 890)",
"dimensions": {
"concept": "ifrs-full:DisclosureOfInterestExpenseExplanatory",
"language": "en",
"entity": "scheme:5967007LIEEXZXFK0040",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"s7_notes__6__95": {
"value": "Note 13 Financial itemsFinance incomeNOK thousand 2022 2021Interest income 291 259Realized foreign exchange gains 2 153 2 193Net unrealized foreign exchange gains 1 522 0Other financial income 1 225 146Total financial income 5 191 2 598Finance expensesNOK thousand 2022 2021Interest on debts and borrowings (697) (1 872)Interest expense on lease liabilities (1 236) (1 079)Realized foreign exchange losses (1 998) (1 821)Net unrealized foreign exchange losses 0 (979)Other financial expenses (1 350) (736)Total financial expenses (5 280) (6 487)Net financial items (89) (3 890)",
"dimensions": {
"concept": "ifrs-full:DisclosureOfInterestIncomeExplanatory",
"language": "en",
"entity": "scheme:5967007LIEEXZXFK0040",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"s7_notes__6__94": {
"value": "Note 13 Financial itemsFinance incomeNOK thousand 2022 2021Interest income 291 259Realized foreign exchange gains 2 153 2 193Net unrealized foreign exchange gains 1 522 0Other financial income 1 225 146Total financial income 5 191 2 598Finance expensesNOK thousand 2022 2021Interest on debts and borrowings (697) (1 872)Interest expense on lease liabilities (1 236) (1 079)Realized foreign exchange losses (1 998) (1 821)Net unrealized foreign exchange losses 0 (979)Other financial expenses (1 350) (736)Total financial expenses (5 280) (6 487)Net financial items (89) (3 890)",
"dimensions": {
"concept": "ifrs-full:DisclosureOfInterestIncomeExpenseExplanatory",
"language": "en",
"entity": "scheme:5967007LIEEXZXFK0040",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"s7_notes__6__93": {
"value": "Note 13 Financial itemsFinance incomeNOK thousand 2022 2021Interest income 291 259Realized foreign exchange gains 2 153 2 193Net unrealized foreign exchange gains 1 522 0Other financial income 1 225 146Total financial income 5 191 2 598Finance expensesNOK thousand 2022 2021Interest on debts and borrowings (697) (1 872)Interest expense on lease liabilities (1 236) (1 079)Realized foreign exchange losses (1 998) (1 821)Net unrealized foreign exchange losses 0 (979)Other financial expenses (1 350) (736)Total financial expenses (5 280) (6 487)Net financial items (89) (3 890)",
"dimensions": {
"concept": "ifrs-full:DisclosureOfFinanceCostExplanatory",
"language": "en",
"entity": "scheme:5967007LIEEXZXFK0040",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"s7_notes__6__92": {
"value": "Note 13 Financial itemsFinance incomeNOK thousand 2022 2021Interest income 291 259Realized foreign exchange gains 2 153 2 193Net unrealized foreign exchange gains 1 522 0Other financial income 1 225 146Total financial income 5 191 2 598Finance expensesNOK thousand 2022 2021Interest on debts and borrowings (697) (1 872)Interest expense on lease liabilities (1 236) (1 079)Realized foreign exchange losses (1 998) (1 821)Net unrealized foreign exchange losses 0 (979)Other financial expenses (1 350) (736)Total financial expenses (5 280) (6 487)Net financial items (89) (3 890)",
"dimensions": {
"concept": "ifrs-full:DisclosureOfFinanceIncomeExplanatory",
"language": "en",
"entity": "scheme:5967007LIEEXZXFK0040",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"s7_notes__6__91": {
"value": "Note 13 Financial itemsFinance incomeNOK thousand 2022 2021Interest income 291 259Realized foreign exchange gains 2 153 2 193Net unrealized foreign exchange gains 1 522 0Other financial income 1 225 146Total financial income 5 191 2 598Finance expensesNOK thousand 2022 2021Interest on debts and borrowings (697) (1 872)Interest expense on lease liabilities (1 236) (1 079)Realized foreign exchange losses (1 998) (1 821)Net unrealized foreign exchange losses 0 (979)Other financial expenses (1 350) (736)Total financial expenses (5 280) (6 487)Net financial items (89) (3 890)",
"dimensions": {
"concept": "ifrs-full:DisclosureOfFinanceIncomeExpenseExplanatory",
"language": "en",
"entity": "scheme:5967007LIEEXZXFK0040",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
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"s7_notes__6__97": {
"value": "Note 14 TaxIncome tax expenseNOK thousand 2022 2021Current taxCurrent Income Tax - Norway 889 1 741Current Income Tax - Other countries 1 539 398Correction previous year - other countries 968 0Deferred taxChange in deferred taxes - Norway (7 653) (6 963)Change in deferred taxes - Other countries (2 778) 23Tax expense (+) / income (-) (7 035) (4 802)A reconciliation of the effective tax rateProfit/(loss) before tax (90 428) (53 660)Adjustment of current income tax of previous years (50) 61Changes in unrecognized deferred tax asset (if applicable) 66 974 41 875Temporary differences 690 2 417Non deductible expenses 37 375 (2 906)Non-taxable income (916) 4 279Tax base 13 643 (7 933)Income taxes calculated at the Conpany's domestic tax rate (22%) 3 002 (1 745)Tax previous year 968 19Changes in recognized deferred taxes (10 431) (6 940)Different tax rates applied in foreign jurisdictions (573) 3 865Tax expense (+) / income (-) at effective tax rate (7 035) (4 802)NOK thousand 2022 2021Effective tax rate 7.8% 8.9%Tax rate Norway 22.0% 22.0%Deferred taxesProperty, plant and equipment 4 544 2 689Receivable 91 (35)Tax losses carried forward 9 256 5 824Other provisions 0 (2 675)Leases 110 0Intangible assets (11 413) 0Deferred tax on intangible assets from business combinations (857) (13 375)Deferred taxes, net 1 732 (7 572)Deferred taxes, capitalized 1 732 (7 572)Deferred taxes, not capitalized 30 260 19 755Reconciliation to balance sheetDeferred tax assets 12 322 9 511Deferred tax liabilities (10 590) (17 084)Net Deferred tax assets (liabilities) 1 732 (7 572)",
"dimensions": {
"concept": "ifrs-full:DisclosureOfTaxReceivablesAndPayablesExplanatory",
"language": "en",
"entity": "scheme:5967007LIEEXZXFK0040",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"s7_notes__6__101-1": {
"value": "Note 15 Earnings per shareBasic earnings per share (EPS) are calculated by dividing the profit attributable to equity holders of the Company by the weighted average number of ordinary shares in Issue during the year according to the following number of outstanding shares.Issued shares and share capitalNumber Share Capital of shares (NOK)1 January 2022 584 903 064 163 772 858Capital issue, April 100 000 000 28 000 000Share issue, repair offer, July 3 625 153 1 015 043Capital issue in relation to acq. of Integra, Nov 2 045 000 572 60031 December 2022 690 573 217 193 360 501Diluted EPS amounts are calculated by dividing the profit attributable to ordinary equity holders of the Company by weighted average number of ordinary shares outstanding during the year plus the weighted average number of ordinary shares that would be Issued on conversion of all the dilutive potential ordinary shares into ordinary shares.The following reflects the Income and share data used in the basic and diluted EPS calculations:NOK 2022 2021Net profit/(loss) to equity holders (83 393 192) (48 857 904)Total (83 393 192) (48 857 904)Number of shares (in thousands)Weighted average number of ordinary shares 658 988 513 489 277 730Effects of dilution, weighted average 5 663 984 91 776 213Weighted average number of shares, adjusted for effects of dilution 664 652 497 581 053 943Basic earnings per share (0.13) (0.10) 1Diluted earnings per share(0.13) (0.10)1 If Net loss, EPS per Basic and Diliuted share will be equalIn 2021, the remaining obligation for share consideration for Qualisoft AS and Maksit was issued, only the weighted dilution persisted. These are all settled at end of 2022.In 2022, only parts of the original share consideration is included as dilution. Parts of the share consideration for Integra is still outstanding. This is to be settled during 2023.Effects of dilutionNOK 2022 2021Redemption shares to minority shareholdes of Arribatec AS 0 85 130 804Share consideration outstanding Qualisoft 0 2 876 712Share consideration outstanding Maksit 0 2 465 753Share consideration outstanding Integra 5 663 984 1 302 943Note 26 SharesIssued shares and share capitalNumber of Share Capital shares (NOK)1 January 2020 16 077 403 16 077 403Capital issue, Jan 7 164 688 7 164 688Capital issue, Mar 41 666 666 41 666 666Capital issue, Mar 25 000 000 25 000 000Capital decrease, Nov (64 734 305)New shares, Oct 235 819 574 66 029 481Share issue, repair offer, Nov 32 855 000 9 199 400Share issue, employee offer, Nov 10 000 000 2 800 000Share issue, private placement, Dec 50 000 000 14 000 0001 January 2021 418 583 331 117 203 333Capital issue in relation to acq. of Facil, Jan 12 423 200 3 478 496Capital issue in relation to acq. of Microsky, Feb 3 499 998 979 999Capital issue in relation to acq. of Innit, Mar 5 606 400 1 569 792Capital issue in relation to acq. of Qualisoft, May 15 000 000 4 200 000Capital issue in relation to acq. of Maksit, Aug 5 000 000 1 400 000Capital issue in relation to merger with Arribatec AS, Sep 124 790 135 34 941 23831 December 2021 584 903 064 163 772 858Capital issue, April 100 000 000 28 000 000Share issue, repair offer, July 3 625 153 1 015 043Capital issue in relation to acq. of Integra, Nov 2 045 000 572 60031 December 2022 690 573 217 193 360 501Each share has the same rights and has a par value of NOK 0.28.20 largest shareholders at 31 Dec 2022Holding StakeFERNCLIFF LISTED DAI AS 166 554 032 24.1%ARRIBA INVEST AS 53 200 000 7.7%DALLAS ASSET MANAGEMENT AS 24 598 694 3.6%JOAR AARENES 24 111 850 3.5%TORSTEIN INGVALD TVENGE 21 000 000 3.0%NORDNET BANK AB 18 656 529 2.7%SRK CONSULTING AS 17 809 464 2.6%ERIK SKAAR OPDAL 16 952 000 2.5%TRUDE HALVORSEN 10 797 884 1.6%HANEKAMB INVEST AS 10 553 463 1.5%DATUM AS 8 542 908 1.2%MIDDELBOE AS 7 011 150 1.0%NORSK REGNESENTRAL 6 770 735 1.0%DANSKE BANK A/S 6 128 767 0.9%LARS HUGO BRAADLAND OLSEN 5 748 500 0.8%LCS AS 5 518 001 0.8%JAN ARNE CHRISTENSEN 5 156 750 0.7%NORDNET LIVSFORSIKRING AS 5 152 005 0.7%VALSET INVEST AS 4 500 000 0.7%FAISAL BAIG 4 207 000 0.6%Total 20 largest shareholders 422 969 732 61.2%Other shareholders 267 603 485 38.8%Total 690 573 217 100.0%Shares held by related parties Holding Stake FERNCLIFF LISTED DAI AS 166 554 032 24.1% Related to \u00d8ystein S. Spetalen, Member of the Board in Arribatec Group ASA HANEKAMB INVEST AS 10 553 463 1.5% Related to Martin Nes, Chairman of the Board in Arribatec Group ASA FINANCE RESOURCES GJ AS 3 606 084 0.5% Related to Geir Johansen, CEO of Arribatec Group ASA REAKTOR RETURNS AS 1 738 830 0.3% Related to Henrik Lie-Nielsen, Member of the Board in Arribatec Group ASA KJ\u00d8LVIK INVEST AS 583 334 0.1% Related to Ole-Jakob Kj\u00f8lvik, COO of Arribatec Group ASA SICUBI AS 240 712 0.0% Related to Bente Brocks, CFO (interim) of Arribatec Group ASA HELLEBUST, KRISTIN 227 272 0.0% Related to Kristin Hellebust, Member of the Board in Arribatec Group ASA",
"dimensions": {
"concept": "ifrs-full:DisclosureOfShareCapitalReservesAndOtherEquityInterestExplanatory",
"language": "en",
"entity": "scheme:5967007LIEEXZXFK0040",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"s7_notes__6__100": {
"value": "Note 15 Earnings per shareBasic earnings per share (EPS) are calculated by dividing the profit attributable to equity holders of the Company by the weighted average number of ordinary shares in Issue during the year according to the following number of outstanding shares.Issued shares and share capitalNumber Share Capital of shares (NOK)1 January 2022 584 903 064 163 772 858Capital issue, April 100 000 000 28 000 000Share issue, repair offer, July 3 625 153 1 015 043Capital issue in relation to acq. of Integra, Nov 2 045 000 572 60031 December 2022 690 573 217 193 360 501Diluted EPS amounts are calculated by dividing the profit attributable to ordinary equity holders of the Company by weighted average number of ordinary shares outstanding during the year plus the weighted average number of ordinary shares that would be Issued on conversion of all the dilutive potential ordinary shares into ordinary shares.The following reflects the Income and share data used in the basic and diluted EPS calculations:NOK 2022 2021Net profit/(loss) to equity holders (83 393 192) (48 857 904)Total (83 393 192) (48 857 904)Number of shares (in thousands)Weighted average number of ordinary shares 658 988 513 489 277 730Effects of dilution, weighted average 5 663 984 91 776 213Weighted average number of shares, adjusted for effects of dilution 664 652 497 581 053 943Basic earnings per share (0.13) (0.10) 1Diluted earnings per share(0.13) (0.10)1 If Net loss, EPS per Basic and Diliuted share will be equalIn 2021, the remaining obligation for share consideration for Qualisoft AS and Maksit was issued, only the weighted dilution persisted. These are all settled at end of 2022.In 2022, only parts of the original share consideration is included as dilution. Parts of the share consideration for Integra is still outstanding. This is to be settled during 2023.Effects of dilutionNOK 2022 2021Redemption shares to minority shareholdes of Arribatec AS 0 85 130 804Share consideration outstanding Qualisoft 0 2 876 712Share consideration outstanding Maksit 0 2 465 753Share consideration outstanding Integra 5 663 984 1 302 943",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForEarningsPerShareExplanatory",
"language": "en",
"entity": "scheme:5967007LIEEXZXFK0040",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"s7_notes__6__98": {
"value": "Note 15 Earnings per shareBasic earnings per share (EPS) are calculated by dividing the profit attributable to equity holders of the Company by the weighted average number of ordinary shares in Issue during the year according to the following number of outstanding shares.Issued shares and share capitalNumber Share Capital of shares (NOK)1 January 2022 584 903 064 163 772 858Capital issue, April 100 000 000 28 000 000Share issue, repair offer, July 3 625 153 1 015 043Capital issue in relation to acq. of Integra, Nov 2 045 000 572 60031 December 2022 690 573 217 193 360 501Diluted EPS amounts are calculated by dividing the profit attributable to ordinary equity holders of the Company by weighted average number of ordinary shares outstanding during the year plus the weighted average number of ordinary shares that would be Issued on conversion of all the dilutive potential ordinary shares into ordinary shares.The following reflects the Income and share data used in the basic and diluted EPS calculations:NOK 2022 2021Net profit/(loss) to equity holders (83 393 192) (48 857 904)Total (83 393 192) (48 857 904)Number of shares (in thousands)Weighted average number of ordinary shares 658 988 513 489 277 730Effects of dilution, weighted average 5 663 984 91 776 213Weighted average number of shares, adjusted for effects of dilution 664 652 497 581 053 943Basic earnings per share (0.13) (0.10) 1Diluted earnings per share(0.13) (0.10)1 If Net loss, EPS per Basic and Diliuted share will be equalIn 2021, the remaining obligation for share consideration for Qualisoft AS and Maksit was issued, only the weighted dilution persisted. These are all settled at end of 2022.In 2022, only parts of the original share consideration is included as dilution. Parts of the share consideration for Integra is still outstanding. This is to be settled during 2023.Effects of dilutionNOK 2022 2021Redemption shares to minority shareholdes of Arribatec AS 0 85 130 804Share consideration outstanding Qualisoft 0 2 876 712Share consideration outstanding Maksit 0 2 465 753Share consideration outstanding Integra 5 663 984 1 302 943",
"dimensions": {
"concept": "ifrs-full:DisclosureOfEarningsPerShareExplanatory",
"language": "en",
"entity": "scheme:5967007LIEEXZXFK0040",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"s7_notes__6__99": {
"value": "In 2022, only parts of the original share consideration is included as dilution. Parts of the share consideration for Integra is still outstanding. This is to be settled during 2023.",
"dimensions": {
"concept": "ifrs-full:DisclosureOfSharebasedPaymentArrangementsExplanatory",
"language": "en",
"entity": "scheme:5967007LIEEXZXFK0040",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"s7_notes__6__103": {
"value": "Note 16 Goodwill and impairmentGoodwill and intangible assets stated in the consolidated financial position are mainly derived from excess value following the acqui-sitions of Instidata AS in 2019, Facil AS, Microsky AS and Innit AS in 2020 and Maksit AS, Qualisoft AS, IB Group and Integra Ass. Ltd in 2021. Recognized goodwill amounts to NOK 204.6m as of 31 December 2022 (NOK 205.3m). Other intangible assets related to excess values in the Group accounts are customer relations and soft-ware, with a carrying amount of NOK 45.3 million as per 31 December 2022 (NOK 62.3m).Only goodwill has an indefinite lifetime, all other intangible assets are amortized, ref Note 12.Goodwill is tested for impairment for each cash generating unit (CGU) prior to preparation of the annual accounts. The test is performed annually, and when there are indications of impairment. There were no impairment indications in the impairment test 2022 where recoverable amounts exceeded the balance sheet amounts, thus no impairment has been done in 2022.The recoverable amount for each CGU has been determined esti-mating their Value in Use (VIU) and comparing that to the carrying amount of the specific CGU. The calculation of VIU has been based on mstimate, reflecting the Grou\u2019\u2019s financial planning process. The discount rates are derived as the weighted average cost of capital (WACC) for a similar business in the same business environment.Goodwill has been allocated for impairment testing purposes to the CGUs below.NOK thousand Cloud BizS Marine Hospitality EA&BPM TotalNorway 56 622 35 585 0 24 416 66 361 182 984UK 0 17 398 0 0 0 17 398Italy 0 0 4 199 0 0 4 199Total 56 622 52 983 4 199 24 416 66 361 204 581Cash flow projections and assumptionsA five-year forecast of discounted cash flows plus a 2.0% terminal value growth rate was used to determine net present value of the CGU. Discounted cash flows were calculated after tax and applying a WACC after tax. Estimated cash flow covering the period 2023-2027 consists of estimates for 2023 and beyond. Key assumptions for the value in use calculationsThe basis for the projection of the future cash flows estimated is based on the financial budget of one year, approved by the Board of Directors. The budget in combination with the forecasts represent management\u2019s best estimate of the range of economic conditions that will exist over the remaining useful life of the asset. The remaining four years of the forecast period are estimated based on budget and projected performance. The calculation of VIU for the CGU is most of all sensitive when it comes to the following assumptions:Discount rateThe input data for the WACC is gathered from external sources.2022 2021Norway UK Italy AllRisk free interest rate 3.1% 3.3% 4.2% 3%Debt risk premium 6.6% 6.6% 6.6% 3%Equity risk premium 5.9% 5.9% 5.9% 4%Equity Beta 1.37 1.37 1.37 1.61Cost of equity 11.2% 11.2% 11.2% 9.4%Tax rate 22% 19% 29% 22%After tax cost debt 7.6% 7.7% 8.0% 4.7%Equity weight 90% 90% 90% 90%WACC (pre tax) 13.8% 14.0% 16.6% 9.0%The average growth rate and EBITDA margin assumptions are based on historical experience and performance as well as market analysis used for budget 2023 and estimates from 2024-2026 and a terminal growth rate of 2%. The average growth rates in the period for each CGU is: 1Hospitality 2Cloud BizS MarineEA&BPMAverage revenue growth 16% 9% 0% 196% 16%Average EBITDA margin 7% 15% 18% 41% 19%1 The restructuring and sales of IP in the Marine CGU from 2022 to 2023 effect the average growth rates 2 CGU Hospitality will until Q2 2023 go from a start up to become a mature profit making unit, thus impact on the growth rates seems unnatural",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForImpairmentOfNonfinancialAssetsExplanatory",
"language": "en",
"entity": "scheme:5967007LIEEXZXFK0040",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"s7_notes__6__102": {
"value": "Note 16 Goodwill and impairmentGoodwill and intangible assets stated in the consolidated financial position are mainly derived from excess value following the acqui-sitions of Instidata AS in 2019, Facil AS, Microsky AS and Innit AS in 2020 and Maksit AS, Qualisoft AS, IB Group and Integra Ass. Ltd in 2021. Recognized goodwill amounts to NOK 204.6m as of 31 December 2022 (NOK 205.3m). Other intangible assets related to excess values in the Group accounts are customer relations and soft-ware, with a carrying amount of NOK 45.3 million as per 31 December 2022 (NOK 62.3m).Only goodwill has an indefinite lifetime, all other intangible assets are amortized, ref Note 12.Goodwill is tested for impairment for each cash generating unit (CGU) prior to preparation of the annual accounts. The test is performed annually, and when there are indications of impairment. There were no impairment indications in the impairment test 2022 where recoverable amounts exceeded the balance sheet amounts, thus no impairment has been done in 2022.The recoverable amount for each CGU has been determined esti-mating their Value in Use (VIU) and comparing that to the carrying amount of the specific CGU. The calculation of VIU has been based on mstimate, reflecting the Grou\u2019\u2019s financial planning process. The discount rates are derived as the weighted average cost of capital (WACC) for a similar business in the same business environment.Goodwill has been allocated for impairment testing purposes to the CGUs below.NOK thousand Cloud BizS Marine Hospitality EA&BPM TotalNorway 56 622 35 585 0 24 416 66 361 182 984UK 0 17 398 0 0 0 17 398Italy 0 0 4 199 0 0 4 199Total 56 622 52 983 4 199 24 416 66 361 204 581Cash flow projections and assumptionsA five-year forecast of discounted cash flows plus a 2.0% terminal value growth rate was used to determine net present value of the CGU. Discounted cash flows were calculated after tax and applying a WACC after tax. Estimated cash flow covering the period 2023-2027 consists of estimates for 2023 and beyond. Key assumptions for the value in use calculationsThe basis for the projection of the future cash flows estimated is based on the financial budget of one year, approved by the Board of Directors. The budget in combination with the forecasts represent management\u2019s best estimate of the range of economic conditions that will exist over the remaining useful life of the asset. The remaining four years of the forecast period are estimated based on budget and projected performance. The calculation of VIU for the CGU is most of all sensitive when it comes to the following assumptions:Discount rateThe input data for the WACC is gathered from external sources.2022 2021Norway UK Italy AllRisk free interest rate 3.1% 3.3% 4.2% 3%Debt risk premium 6.6% 6.6% 6.6% 3%Equity risk premium 5.9% 5.9% 5.9% 4%Equity Beta 1.37 1.37 1.37 1.61Cost of equity 11.2% 11.2% 11.2% 9.4%Tax rate 22% 19% 29% 22%After tax cost debt 7.6% 7.7% 8.0% 4.7%Equity weight 90% 90% 90% 90%WACC (pre tax) 13.8% 14.0% 16.6% 9.0%The average growth rate and EBITDA margin assumptions are based on historical experience and performance as well as market analysis used for budget 2023 and estimates from 2024-2026 and a terminal growth rate of 2%. The average growth rates in the period for each CGU is: 1Hospitality 2Cloud BizS MarineEA&BPMAverage revenue growth 16% 9% 0% 196% 16%Average EBITDA margin 7% 15% 18% 41% 19%1 The restructuring and sales of IP in the Marine CGU from 2022 to 2023 effect the average growth rates 2 CGU Hospitality will until Q2 2023 go from a start up to become a mature profit making unit, thus impact on the growth rates seems unnatural",
"dimensions": {
"concept": "ifrs-full:DisclosureOfGoodwillExplanatory",
"language": "en",
"entity": "scheme:5967007LIEEXZXFK0040",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"s7_notes__6__105": {
"value": "Note 17 Business combinationsDuring 2022, Arribatec did not acquire any shares in companies. During 2021, Arribatec acquired shares in the companies mentioned below and consequently controls the subsidiaries from the date of acquisition. In the purchase price allocations (PPA), the assets and liabilities of the companies have been measured at the estimated fair value on the acquisition date.The purchase price allocation identified fair value adjustments on Intangible assets like customer relations and software and deferred tax liabilities/assets. The residual value of the purchase price alloca-tion is allocated to goodwill. Arribatec acquired five companies during 2021 within IT and operation technology. The acquisitions are carried out in line with Arribatec\u2019s strategy.The labor force and \u201cgoing concern\u2019\u2019 elements are the main part of the acquired excess value and has been allocated to goodwill in accord-ance with IFRS 3. Goodwill in relation to the acquisition is related to different CGU\u2019s as according to Note 16. The final PPAs (Purchase price allocation) are shown below.2021NOK thousand Maksit Qualisoft IB Group Infoship IntegraDate of acquisition 18 Feb 2021 23 Feb 2021 20 Jan 2021 01 Apr 2021 11 Oct 2021Acquired part of Company 100% 100% 100% 100% 100%Purchase price 35 987 85 605 20 830 258 36 268whereof Cash consideration 25 787 54 855 20 830 258 16 569whereof Share consideration 10 200 30 750 0 0 2 863An earn-out component is included in the purchase price amounting to: 0 0 0 0 16 836Fair value of assets and liabilities on acquisitionASSETSNon-current assetsProperty, plant and equipment 101 457 1 114 142 940Goodwill 22 541 66 361 5 025 9 17 091Customer Relationship 9 234 15 128 0 0 16 610Software 0 0 43 282 143 0Other intangible fixed assets 0 0 22 034 0 0Deferred tax assets 0 0 71 0 0Other long term assets0 0 0 0 0Total non-current assets 31 876 81 946 71 527 294 34 6402021NOK thousand Maksit Qualisoft IB Group Infoship IntegraCurrent assetsTrade receivables 3 675 21 856 3 060 240 7 648Other current assets 263 7 218 1 202 31 462Contract assets (earned, not invoiced) 0 656 748 0 930Cash & cash equivalents 7 331 10 937 2 446 1 253 7 890Total current assets 11 269 40 667 7 457 1 524 16 930Total Assets 43 145 122 613 78 985 1 817 51 570Non-current liabilitiesLong term interest bearing debt 0 0 16 227 0 0Deferred tax liabilities 2 032 3 328 7 127 0 3 126Other long-term liabilities & provisions 0 0 14 472 1 549 1 101Total non-current liabilities 2 032 3 328 37 825 1 549 4 228Current liabilitiesTrade payables 613 1 871 6 287 0 1 747Tax liabilities 520 0 0 0 (443)Current Contract liabilities (deferred revenue) 0 10 942 737 0 0Other short term liabilities 3 621 20 867 13 306 10 9 771Accrued expenses and prepaid income 372 0 0 0 0Total current liabilities 5 126 33 680 20 330 10 11 075Total Net assets 35 987 85 605 20 830 258 36 268InfoNet Sales full year Merged 78 309 45 167 2 280 46 556Profit /Loss full year Merged 7 964 (17 838) (2 147) (2 870)Net Sales full year (Arribatec ownership period) Merged 72 967 45 167 2 280 13 053Profit /Loss full year (Arribatec ownership period) Merged 7 309 (17 838) (2 147) (133)",
"dimensions": {
"concept": "ifrs-full:DisclosureOfBusinessCombinationsExplanatory",
"language": "en",
"entity": "scheme:5967007LIEEXZXFK0040",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"s7_notes__6__106": {
"value": "Note 18 Investment in subsidiariesNOK thousandYear of acquisition/ Profit after Total Equity Profit after Total Equity Subsidiary Ownershipfoundationtax 202231.12.2022tax 202131.12.2021Arribatec Group ASA 100% 2015 (43 009) 338 909 (16 200) 331 154 1Arribatec Norge AS100% 2017 (611) 6 696 823 8 628Arribatec Hospitality AS 100% 2019 (10 130) 5 498 (7 724) 8 156 2Arribatec Cloud AS100% 2020 3 839 9 686 940 5 954 1Innit Utvikling AS100% 2020 na na 1 298 2 253 2Microsky AS100% 2020 na na 613 1 850Arribatec EA & BPM AS 100% 2021 1 889 2 292 7 309 5 776Arribatec Sverige AB 100% 2016 (1 948) 480 (4 453) 669Arribatec Denmark ApS 100% 2015 415 1 781 447 1 301Arribatec Innovation Sp. z o.o. 100% 2018 672 1 108 636 439Arribatec Belgium NV 100% 2018 769 2 444 547 1 535Arribatec Italy S.r.l. 100% 2018 (637) 14 867 (406) 15 476Arribatec Iberia SL 100% 2017 (874) 4 115 2 289 4 374Arribatec Americas Inc 100% 2018 2 732 10 552 2 899 7 015Arribatec Hospitality LLC 100% 2018 (1 037) (2 214) (922) (1 024)IB S.r.l. 100% 2021 (20 602) (28 639) (18 876) (4 774) 3IB Digital Ship S.r.l.100% 2021 na na 23 241IB Cyprus LTD 100% 2021 59 4 350 160 4 057IB USA Inc 100% 2021 1 239 270 855 (1 060)Arribatec Solutions UK LTD 100% 2018 (712) (2 593) (1 757) (1 893)Integra Associates Ltd. 100% 2021 (590) 5 848 (134) 6 619Infoship GmbH 100% 2021 (1 928) (3 966) (2 147) (1 870)Arribatec France Sarl 100% 2021 (7) (0) (188) (87)Arribatec Solutions Trading Ltd 100% 2021 (1 956) (2 869) (358) (363)All entities listed are included in the consolidated financial statements of Arribatec Group ASA.During 2022, Innit Utvikling AS was merged into Arribatec Norge AS, Microsky AS was merged into Arribatec Cloud AS and IB Digital Ship S.r.l. was merged into IB S.r.l.Arribatec Group ASA are holding direct ownership of most entities. Arribatec Americas INC and Arribatec Americas LLC are both subsid-iaries of Arribatec Denmark Aps. The IB Group is owned by Arribatec Italy S.r.l.1 Innit Utvikliing AS was merged into Arribatec Norge AS in 20222 Microsky AS was merged into Arribatec Cloud AS in 20223 IB Digital Ship S.r.l. was merged into IB S.r.l in 2022",
"dimensions": {
"concept": "ifrs-full:DisclosureOfSignificantInvestmentsInSubsidiariesExplanatory",
"language": "en",
"entity": "scheme:5967007LIEEXZXFK0040",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"s7_notes__6__108-1": {
"value": "Note 19 Other non-current assetsNOK thousand 2022 2021Investment in shares 60 60Bond notes in Italy 0 9 836Deposits 5 263 664Other 0 118Total other non-current assets 5 323 10 678Note 22 Other receivables and other current assetsNOK thousand 2022 2021Government receivables 4 317 4 189Prepaid cost 13 648 9 689Other current assets 1 647 8 732Total other non-current assets 19 612 22 610",
"dimensions": {
"concept": "ifrs-full:DisclosureOfOtherAssetsExplanatory",
"language": "en",
"entity": "scheme:5967007LIEEXZXFK0040",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"s7_notes__6__107": {
"value": "Note 19 Other non-current assetsNOK thousand 2022 2021Investment in shares 60 60Bond notes in Italy 0 9 836Deposits 5 263 664Other 0 118Total other non-current assets 5 323 10 678",
"dimensions": {
"concept": "ifrs-full:DisclosureOfOtherNoncurrentAssetsExplanatory",
"language": "en",
"entity": "scheme:5967007LIEEXZXFK0040",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"s7_notes__6__111": {
"value": "Note 20 Account receivablewhereof estimated NOK thousand Current 0-30 days 31-60 days 61-90 days 90+days Totalcredit lossesAgeing, Accounts receivable2022 60 600 17 022 5 200 2 984 2 409 88 214 (2 994)2021 49 285 23 200 5 819 7 004 3 366 88 674 (570)Provision for Expected Credit Losses (ECL) are included with NOK 3.0m (NOK 570k). The provision is based on a valuation per subsidiary at year end based on general assumptions as well as agreements with customers and payments made in next year.Accounts receivables are non-interest bearing. See Note 2 for a description of allowance for expected credit losses. Note 3 provides a description of the Group\u2019s credit risk management.",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForImpairmentOfFinancialAssetsExplanatory",
"language": "en",
"entity": "scheme:5967007LIEEXZXFK0040",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"s7_notes__6__110": {
"value": "Note 20 Account receivablewhereof estimated NOK thousand Current 0-30 days 31-60 days 61-90 days 90+days Totalcredit lossesAgeing, Accounts receivable2022 60 600 17 022 5 200 2 984 2 409 88 214 (2 994)2021 49 285 23 200 5 819 7 004 3 366 88 674 (570)Provision for Expected Credit Losses (ECL) are included with NOK 3.0m (NOK 570k). The provision is based on a valuation per subsidiary at year end based on general assumptions as well as agreements with customers and payments made in next year.Accounts receivables are non-interest bearing. See Note 2 for a description of allowance for expected credit losses. Note 3 provides a description of the Group\u2019s credit risk management.",
"dimensions": {
"concept": "ifrs-full:DisclosureOfTradeAndOtherReceivablesExplanatory",
"language": "en",
"entity": "scheme:5967007LIEEXZXFK0040",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"s7_notes__6__109": {
"value": "Note 20 Account receivablewhereof estimated NOK thousand Current 0-30 days 31-60 days 61-90 days 90+days Totalcredit lossesAgeing, Accounts receivable2022 60 600 17 022 5 200 2 984 2 409 88 214 (2 994)2021 49 285 23 200 5 819 7 004 3 366 88 674 (570)Provision for Expected Credit Losses (ECL) are included with NOK 3.0m (NOK 570k). The provision is based on a valuation per subsidiary at year end based on general assumptions as well as agreements with customers and payments made in next year.Accounts receivables are non-interest bearing. See Note 2 for a description of allowance for expected credit losses. Note 3 provides a description of the Group\u2019s credit risk management.",
"dimensions": {
"concept": "ifrs-full:DisclosureOfAllowanceForCreditLossesExplanatory",
"language": "en",
"entity": "scheme:5967007LIEEXZXFK0040",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"s7_notes__6__116": {
"value": "Note 21 Financial instrumentsSet out below is a comparison by class of carrying amounts and fair values of all financial instruments that are carried in the financial statements.The financial assets principally consist of cash and cash equivalents obtained through the operating business. The financial liabilities principally consist of trade and other payables arising directly from its operations. The fair value of the financial assets and liabilities are included at the amount at which the instrument could be exchanged in a current transaction between willing parties, other than in a forced or liquidation sale.The Group uses the following hierarchy for determining and disclosing the fair value of financial instruments by valuation technique:Level 1: The fair value of financial instruments traded in active markets is based on quoted market pricesLevel 2: The fair value of financial instruments that are not traded in an active market is determined using valuation techniques which maximize the use of observable market price and rely as little as possible on entity-specific estimates. If all significant Inputs require to fair value an Instrument are observable.Level 3: techniques that use inputs that have a significant effect on the recorded fair value that are not based on observable market data.Carrying amount Fair valueFair value Amortized through profit NOK thousandcostand loss Total Level 1 Level 2 Level 3 Total31 Dec 2022Financial assets 1Investment in shares0 60 60 0 0 60 60Accounts receivable 88 214 0 88 214 0 0 88 214 88 214Deposits related to premises 5 263 0 5 263 5 263 5 263Other receivables 1 128 0 1 128 0 0 1 128 1 128Total financial assets 94 605 60 94 665 0 0 94 665 94 665Financial liabilitiesNon-current lease liabilities 26 727 0 26 727 0 0 26 727 26 727Other non-current financial liabilities 967 0 967 0 0 967 967Current lease liabilities 16 765 0 16 765 0 0 16 765 16 765Accounts payable 31 879 0 31 879 0 0 31 879 31 879Contract liabilities 16 476 0 16 476 0 0 16 476 16 476Current tax payable 650 0 650 0 0 650 650Other current liabilities 83 969 0 83 969 0 0 83 969 83 969Interest bearing loan 31 211 0 31 211 0 0 31 211 31 211Total financial liabilities 192 167 0 192 167 0 0 192 167 192 167Carrying amount Fair valueFair value Amortized through profit NOK thousandcostand loss Total Level 1 Level 2 Level 3 Total31 Dec 2021Financial assets 1Investment in shares0 60 60 0 0 60 60 Accounts receivable and other receivables 90 964 0 90 964 0 0 90 964 90 964 Total financial assets 90 964 60 91 024 0 0 91 024 91 024 Financial liabilities 2Accounts payable and other payables166 643 0 166 643 0 0 166 643 166 643Interest bearing loan 37 425 0 37 425 0 0 37 425 37 425Total financial liabilities 204 067 0 204 067 0 0 204 067 204 0671 Investment in shares is classified as Other non-current assets2 Consists of lease liabilites, other non-current financial liabilities, accounts payable, contract liabilities, current tax payable and other current liabilities",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForFairValueMeasurementExplanatory",
"language": "en",
"entity": "scheme:5967007LIEEXZXFK0040",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"s7_notes__6__115": {
"value": "Note 21 Financial instrumentsSet out below is a comparison by class of carrying amounts and fair values of all financial instruments that are carried in the financial statements.The financial assets principally consist of cash and cash equivalents obtained through the operating business. The financial liabilities principally consist of trade and other payables arising directly from its operations. The fair value of the financial assets and liabilities are included at the amount at which the instrument could be exchanged in a current transaction between willing parties, other than in a forced or liquidation sale.The Group uses the following hierarchy for determining and disclosing the fair value of financial instruments by valuation technique:Level 1: The fair value of financial instruments traded in active markets is based on quoted market pricesLevel 2: The fair value of financial instruments that are not traded in an active market is determined using valuation techniques which maximize the use of observable market price and rely as little as possible on entity-specific estimates. If all significant Inputs require to fair value an Instrument are observable.Level 3: techniques that use inputs that have a significant effect on the recorded fair value that are not based on observable market data.Carrying amount Fair valueFair value Amortized through profit NOK thousandcostand loss Total Level 1 Level 2 Level 3 Total31 Dec 2022Financial assets 1Investment in shares0 60 60 0 0 60 60Accounts receivable 88 214 0 88 214 0 0 88 214 88 214Deposits related to premises 5 263 0 5 263 5 263 5 263Other receivables 1 128 0 1 128 0 0 1 128 1 128Total financial assets 94 605 60 94 665 0 0 94 665 94 665Financial liabilitiesNon-current lease liabilities 26 727 0 26 727 0 0 26 727 26 727Other non-current financial liabilities 967 0 967 0 0 967 967Current lease liabilities 16 765 0 16 765 0 0 16 765 16 765Accounts payable 31 879 0 31 879 0 0 31 879 31 879Contract liabilities 16 476 0 16 476 0 0 16 476 16 476Current tax payable 650 0 650 0 0 650 650Other current liabilities 83 969 0 83 969 0 0 83 969 83 969Interest bearing loan 31 211 0 31 211 0 0 31 211 31 211Total financial liabilities 192 167 0 192 167 0 0 192 167 192 167Carrying amount Fair valueFair value Amortized through profit NOK thousandcostand loss Total Level 1 Level 2 Level 3 Total31 Dec 2021Financial assets 1Investment in shares0 60 60 0 0 60 60 Accounts receivable and other receivables 90 964 0 90 964 0 0 90 964 90 964 Total financial assets 90 964 60 91 024 0 0 91 024 91 024 Financial liabilities 2Accounts payable and other payables166 643 0 166 643 0 0 166 643 166 643Interest bearing loan 37 425 0 37 425 0 0 37 425 37 425Total financial liabilities 204 067 0 204 067 0 0 204 067 204 0671 Investment in shares is classified as Other non-current assets2 Consists of lease liabilites, other non-current financial liabilities, accounts payable, contract liabilities, current tax payable and other current liabilities",
"dimensions": {
"concept": "ifrs-full:DisclosureOfTradeAndOtherPayablesExplanatory",
"language": "en",
"entity": "scheme:5967007LIEEXZXFK0040",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"s7_notes__6__114": {
"value": "Note 21 Financial instrumentsSet out below is a comparison by class of carrying amounts and fair values of all financial instruments that are carried in the financial statements.The financial assets principally consist of cash and cash equivalents obtained through the operating business. The financial liabilities principally consist of trade and other payables arising directly from its operations. The fair value of the financial assets and liabilities are included at the amount at which the instrument could be exchanged in a current transaction between willing parties, other than in a forced or liquidation sale.The Group uses the following hierarchy for determining and disclosing the fair value of financial instruments by valuation technique:Level 1: The fair value of financial instruments traded in active markets is based on quoted market pricesLevel 2: The fair value of financial instruments that are not traded in an active market is determined using valuation techniques which maximize the use of observable market price and rely as little as possible on entity-specific estimates. If all significant Inputs require to fair value an Instrument are observable.Level 3: techniques that use inputs that have a significant effect on the recorded fair value that are not based on observable market data.Carrying amount Fair valueFair value Amortized through profit NOK thousandcostand loss Total Level 1 Level 2 Level 3 Total31 Dec 2022Financial assets 1Investment in shares0 60 60 0 0 60 60Accounts receivable 88 214 0 88 214 0 0 88 214 88 214Deposits related to premises 5 263 0 5 263 5 263 5 263Other receivables 1 128 0 1 128 0 0 1 128 1 128Total financial assets 94 605 60 94 665 0 0 94 665 94 665Financial liabilitiesNon-current lease liabilities 26 727 0 26 727 0 0 26 727 26 727Other non-current financial liabilities 967 0 967 0 0 967 967Current lease liabilities 16 765 0 16 765 0 0 16 765 16 765Accounts payable 31 879 0 31 879 0 0 31 879 31 879Contract liabilities 16 476 0 16 476 0 0 16 476 16 476Current tax payable 650 0 650 0 0 650 650Other current liabilities 83 969 0 83 969 0 0 83 969 83 969Interest bearing loan 31 211 0 31 211 0 0 31 211 31 211Total financial liabilities 192 167 0 192 167 0 0 192 167 192 167Carrying amount Fair valueFair value Amortized through profit NOK thousandcostand loss Total Level 1 Level 2 Level 3 Total31 Dec 2021Financial assets 1Investment in shares0 60 60 0 0 60 60 Accounts receivable and other receivables 90 964 0 90 964 0 0 90 964 90 964 Total financial assets 90 964 60 91 024 0 0 91 024 91 024 Financial liabilities 2Accounts payable and other payables166 643 0 166 643 0 0 166 643 166 643Interest bearing loan 37 425 0 37 425 0 0 37 425 37 425Total financial liabilities 204 067 0 204 067 0 0 204 067 204 0671 Investment in shares is classified as Other non-current assets2 Consists of lease liabilites, other non-current financial liabilities, accounts payable, contract liabilities, current tax payable and other current liabilities",
"dimensions": {
"concept": "ifrs-full:DisclosureOfFinancialInstrumentsExplanatory",
"language": "en",
"entity": "scheme:5967007LIEEXZXFK0040",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"s7_notes__6__113": {
"value": "Note 21 Financial instrumentsSet out below is a comparison by class of carrying amounts and fair values of all financial instruments that are carried in the financial statements.The financial assets principally consist of cash and cash equivalents obtained through the operating business. The financial liabilities principally consist of trade and other payables arising directly from its operations. The fair value of the financial assets and liabilities are included at the amount at which the instrument could be exchanged in a current transaction between willing parties, other than in a forced or liquidation sale.The Group uses the following hierarchy for determining and disclosing the fair value of financial instruments by valuation technique:Level 1: The fair value of financial instruments traded in active markets is based on quoted market pricesLevel 2: The fair value of financial instruments that are not traded in an active market is determined using valuation techniques which maximize the use of observable market price and rely as little as possible on entity-specific estimates. If all significant Inputs require to fair value an Instrument are observable.Level 3: techniques that use inputs that have a significant effect on the recorded fair value that are not based on observable market data.Carrying amount Fair valueFair value Amortized through profit NOK thousandcostand loss Total Level 1 Level 2 Level 3 Total31 Dec 2022Financial assets 1Investment in shares0 60 60 0 0 60 60Accounts receivable 88 214 0 88 214 0 0 88 214 88 214Deposits related to premises 5 263 0 5 263 5 263 5 263Other receivables 1 128 0 1 128 0 0 1 128 1 128Total financial assets 94 605 60 94 665 0 0 94 665 94 665Financial liabilitiesNon-current lease liabilities 26 727 0 26 727 0 0 26 727 26 727Other non-current financial liabilities 967 0 967 0 0 967 967Current lease liabilities 16 765 0 16 765 0 0 16 765 16 765Accounts payable 31 879 0 31 879 0 0 31 879 31 879Contract liabilities 16 476 0 16 476 0 0 16 476 16 476Current tax payable 650 0 650 0 0 650 650Other current liabilities 83 969 0 83 969 0 0 83 969 83 969Interest bearing loan 31 211 0 31 211 0 0 31 211 31 211Total financial liabilities 192 167 0 192 167 0 0 192 167 192 167Carrying amount Fair valueFair value Amortized through profit NOK thousandcostand loss Total Level 1 Level 2 Level 3 Total31 Dec 2021Financial assets 1Investment in shares0 60 60 0 0 60 60 Accounts receivable and other receivables 90 964 0 90 964 0 0 90 964 90 964 Total financial assets 90 964 60 91 024 0 0 91 024 91 024 Financial liabilities 2Accounts payable and other payables166 643 0 166 643 0 0 166 643 166 643Interest bearing loan 37 425 0 37 425 0 0 37 425 37 425Total financial liabilities 204 067 0 204 067 0 0 204 067 204 0671 Investment in shares is classified as Other non-current assets2 Consists of lease liabilites, other non-current financial liabilities, accounts payable, contract liabilities, current tax payable and other current liabilities",
"dimensions": {
"concept": "ifrs-full:DisclosureOfFairValueOfFinancialInstrumentsExplanatory",
"language": "en",
"entity": "scheme:5967007LIEEXZXFK0040",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"s7_notes__6__112": {
"value": "Note 21 Financial instrumentsSet out below is a comparison by class of carrying amounts and fair values of all financial instruments that are carried in the financial statements.The financial assets principally consist of cash and cash equivalents obtained through the operating business. The financial liabilities principally consist of trade and other payables arising directly from its operations. The fair value of the financial assets and liabilities are included at the amount at which the instrument could be exchanged in a current transaction between willing parties, other than in a forced or liquidation sale.The Group uses the following hierarchy for determining and disclosing the fair value of financial instruments by valuation technique:Level 1: The fair value of financial instruments traded in active markets is based on quoted market pricesLevel 2: The fair value of financial instruments that are not traded in an active market is determined using valuation techniques which maximize the use of observable market price and rely as little as possible on entity-specific estimates. If all significant Inputs require to fair value an Instrument are observable.Level 3: techniques that use inputs that have a significant effect on the recorded fair value that are not based on observable market data.Carrying amount Fair valueFair value Amortized through profit NOK thousandcostand loss Total Level 1 Level 2 Level 3 Total31 Dec 2022Financial assets 1Investment in shares0 60 60 0 0 60 60Accounts receivable 88 214 0 88 214 0 0 88 214 88 214Deposits related to premises 5 263 0 5 263 5 263 5 263Other receivables 1 128 0 1 128 0 0 1 128 1 128Total financial assets 94 605 60 94 665 0 0 94 665 94 665Financial liabilitiesNon-current lease liabilities 26 727 0 26 727 0 0 26 727 26 727Other non-current financial liabilities 967 0 967 0 0 967 967Current lease liabilities 16 765 0 16 765 0 0 16 765 16 765Accounts payable 31 879 0 31 879 0 0 31 879 31 879Contract liabilities 16 476 0 16 476 0 0 16 476 16 476Current tax payable 650 0 650 0 0 650 650Other current liabilities 83 969 0 83 969 0 0 83 969 83 969Interest bearing loan 31 211 0 31 211 0 0 31 211 31 211Total financial liabilities 192 167 0 192 167 0 0 192 167 192 167Carrying amount Fair valueFair value Amortized through profit NOK thousandcostand loss Total Level 1 Level 2 Level 3 Total31 Dec 2021Financial assets 1Investment in shares0 60 60 0 0 60 60 Accounts receivable and other receivables 90 964 0 90 964 0 0 90 964 90 964 Total financial assets 90 964 60 91 024 0 0 91 024 91 024 Financial liabilities 2Accounts payable and other payables166 643 0 166 643 0 0 166 643 166 643Interest bearing loan 37 425 0 37 425 0 0 37 425 37 425Total financial liabilities 204 067 0 204 067 0 0 204 067 204 0671 Investment in shares is classified as Other non-current assets2 Consists of lease liabilites, other non-current financial liabilities, accounts payable, contract liabilities, current tax payable and other current liabilities",
"dimensions": {
"concept": "ifrs-full:DisclosureOfFairValueMeasurementExplanatory",
"language": "en",
"entity": "scheme:5967007LIEEXZXFK0040",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"s7_notes__6__119": {
"value": "Note 22 Other receivables and other current assetsNOK thousand 2022 2021Government receivables 4 317 4 189Prepaid cost 13 648 9 689Other current assets 1 647 8 732Total other non-current assets 19 612 22 610",
"dimensions": {
"concept": "ifrs-full:DisclosureOfPrepaymentsAndOtherAssetsExplanatory",
"language": "en",
"entity": "scheme:5967007LIEEXZXFK0040",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"s7_notes__6__118": {
"value": "Note 22 Other receivables and other current assetsNOK thousand 2022 2021Government receivables 4 317 4 189Prepaid cost 13 648 9 689Other current assets 1 647 8 732Total other non-current assets 19 612 22 610",
"dimensions": {
"concept": "ifrs-full:DisclosureOfOtherCurrentAssetsExplanatory",
"language": "en",
"entity": "scheme:5967007LIEEXZXFK0040",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"s7_notes__6__117": {
"value": "Note 22 Other receivables and other current assetsNOK thousand 2022 2021Government receivables 4 317 4 189Prepaid cost 13 648 9 689Other current assets 1 647 8 732Total other non-current assets 19 612 22 610",
"dimensions": {
"concept": "ifrs-full:DisclosureOfLeasePrepaymentsExplanatory",
"language": "en",
"entity": "scheme:5967007LIEEXZXFK0040",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"s7_notes__6__121": {
"value": "Note 23 Contract assets and liabilitiesContract assetsContract assets are recognized for performance obligations satisfied over time, mainly from installation services and projects where progress is measured over time. When the consideration becomes uncondi-tional the contract assets are reclassified to accounts receivables, which attributes the main changes to the contract assets in the periods.Contract assets will typical insure in Solassa/Saas project were the customer pays a fixed annual or monthly fee over 3-5 years and this also includes payment for the implementation and integration services. In such cases revenue are recognized at the time were performance obligations are meet and registered as a contract assets. A reclassification is done when the customer is invoiced, ref Note 2.6.NOK thousand 2022 2021As of 1 January 19 549 12 387Performance obligations met 36 572 20 676Reclassified to receivables (40 272) (16 006)From business combinations 0 2 335Translation difference 427 157Total contract assets 16 276 19 549It is expected that 72% of the above contract assets will be reversed in 2023, 20% in 2024 followed by 6% in 2025 and the remaining 2% in 2026.The expected credit losses on Contracts assets are considered immaterial as the contracts are mainly with governmental parties and therefore secured. Contracts are subject to valuation of credit losses in same way as Accounts receivable.Contract liabilitiesContract liabilities relates to consideration received in advance of performance under revenue contracts with customers. Revenue is recognized as (or when) the Group fulfils its performance obligation(s) under the contracts.Contract liabilities are presented in the table below:NOK thousand 2022 2021As of 1 January 21 483 1 283Deferred revenue 68 627 38 779Recognized as revenue in P&L (73 811) (30 256)From business combinations 0 11 679Translation difference 177 (2)Total contract liabilities 16 476 21 483Contract liabilities are mainly invoiced to customers in advance and relating to 2023. All liabilities per 1 January was recognized as revenue in P&L during the year.",
"dimensions": {
"concept": "ifrs-full:DisclosureOfDeferredIncomeExplanatory",
"language": "en",
"entity": "scheme:5967007LIEEXZXFK0040",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"s7_notes__6__122": {
"value": "Note 24 InventoryNOK thousand 2022 2021Hardware for resale 900 324Licenses for resale 2 877 2 855Total other non-current assets 3 777 3 179",
"dimensions": {
"concept": "ifrs-full:DisclosureOfInventoriesExplanatory",
"language": "en",
"entity": "scheme:5967007LIEEXZXFK0040",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"s7_notes__6__125": {
"value": "Note 25 CashNOK thousand 2022 2021Cash, free 26 956 31 948Cash, restricted 13 492 11 810Total cash and cash equivalents 40 449 43 758",
"dimensions": {
"concept": "ifrs-full:DisclosureOfRestrictedCashAndCashEquivalentsExplanatory",
"language": "en",
"entity": "scheme:5967007LIEEXZXFK0040",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"s7_notes__6__124": {
"value": "Note 25 CashNOK thousand 2022 2021Cash, free 26 956 31 948Cash, restricted 13 492 11 810Total cash and cash equivalents 40 449 43 758",
"dimensions": {
"concept": "ifrs-full:DisclosureOfCashAndCashEquivalentsExplanatory",
"language": "en",
"entity": "scheme:5967007LIEEXZXFK0040",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"s7_notes__6__123": {
"value": "Note 25 CashNOK thousand 2022 2021Cash, free 26 956 31 948Cash, restricted 13 492 11 810Total cash and cash equivalents 40 449 43 758",
"dimensions": {
"concept": "ifrs-full:DisclosureOfDepositsFromBanksExplanatory",
"language": "en",
"entity": "scheme:5967007LIEEXZXFK0040",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"s7_notes__6__126": {
"value": "Note 26 SharesIssued shares and share capitalNumber of Share Capital shares (NOK)1 January 2020 16 077 403 16 077 403Capital issue, Jan 7 164 688 7 164 688Capital issue, Mar 41 666 666 41 666 666Capital issue, Mar 25 000 000 25 000 000Capital decrease, Nov (64 734 305)New shares, Oct 235 819 574 66 029 481Share issue, repair offer, Nov 32 855 000 9 199 400Share issue, employee offer, Nov 10 000 000 2 800 000Share issue, private placement, Dec 50 000 000 14 000 0001 January 2021 418 583 331 117 203 333Capital issue in relation to acq. of Facil, Jan 12 423 200 3 478 496Capital issue in relation to acq. of Microsky, Feb 3 499 998 979 999Capital issue in relation to acq. of Innit, Mar 5 606 400 1 569 792Capital issue in relation to acq. of Qualisoft, May 15 000 000 4 200 000Capital issue in relation to acq. of Maksit, Aug 5 000 000 1 400 000Capital issue in relation to merger with Arribatec AS, Sep 124 790 135 34 941 23831 December 2021 584 903 064 163 772 858Capital issue, April 100 000 000 28 000 000Share issue, repair offer, July 3 625 153 1 015 043Capital issue in relation to acq. of Integra, Nov 2 045 000 572 60031 December 2022 690 573 217 193 360 501Each share has the same rights and has a par value of NOK 0.28.20 largest shareholders at 31 Dec 2022Holding StakeFERNCLIFF LISTED DAI AS 166 554 032 24.1%ARRIBA INVEST AS 53 200 000 7.7%DALLAS ASSET MANAGEMENT AS 24 598 694 3.6%JOAR AARENES 24 111 850 3.5%TORSTEIN INGVALD TVENGE 21 000 000 3.0%NORDNET BANK AB 18 656 529 2.7%SRK CONSULTING AS 17 809 464 2.6%ERIK SKAAR OPDAL 16 952 000 2.5%TRUDE HALVORSEN 10 797 884 1.6%HANEKAMB INVEST AS 10 553 463 1.5%DATUM AS 8 542 908 1.2%MIDDELBOE AS 7 011 150 1.0%NORSK REGNESENTRAL 6 770 735 1.0%DANSKE BANK A/S 6 128 767 0.9%LARS HUGO BRAADLAND OLSEN 5 748 500 0.8%LCS AS 5 518 001 0.8%JAN ARNE CHRISTENSEN 5 156 750 0.7%NORDNET LIVSFORSIKRING AS 5 152 005 0.7%VALSET INVEST AS 4 500 000 0.7%FAISAL BAIG 4 207 000 0.6%Total 20 largest shareholders 422 969 732 61.2%Other shareholders 267 603 485 38.8%Total 690 573 217 100.0%Shares held by related parties Holding Stake FERNCLIFF LISTED DAI AS 166 554 032 24.1% Related to \u00d8ystein S. Spetalen, Member of the Board in Arribatec Group ASA HANEKAMB INVEST AS 10 553 463 1.5% Related to Martin Nes, Chairman of the Board in Arribatec Group ASA FINANCE RESOURCES GJ AS 3 606 084 0.5% Related to Geir Johansen, CEO of Arribatec Group ASA REAKTOR RETURNS AS 1 738 830 0.3% Related to Henrik Lie-Nielsen, Member of the Board in Arribatec Group ASA KJ\u00d8LVIK INVEST AS 583 334 0.1% Related to Ole-Jakob Kj\u00f8lvik, COO of Arribatec Group ASA SICUBI AS 240 712 0.0% Related to Bente Brocks, CFO (interim) of Arribatec Group ASA HELLEBUST, KRISTIN 227 272 0.0% Related to Kristin Hellebust, Member of the Board in Arribatec Group ASA",
"dimensions": {
"concept": "ifrs-full:DisclosureOfIssuedCapitalExplanatory",
"language": "en",
"entity": "scheme:5967007LIEEXZXFK0040",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"s7_notes__6__130": {
"value": "Note 27 Interest bearing loansNOK thousandDebt financial institutions Type Currency Facility limit Interest rate Year of maturity 31 Dec 2022 31 Dec 2021Danske Bank Revolving credit facility NOK 20 000 NIBOR+2.75% 2023 6 750 0DNB Revolving credit facility NOK 7 000 6.15% 2022 0 5 710DNB Unsecured bank loan NOK 4.65% 2023 0 185DLL Leasing & finance company NOK 4.5% 2024 244 493The Norwegian Research Council Governmental NOK 3.35% 2022 0 188Bank Intesa, Italy Unsecured bank facilities EUR EURIBOR+1.95%-2.40%2027 8 411 9 824Bank Progetto, Italy Unsecured bank loan EUR EURIBOR+5% 2025 5 759 7 236Bank Carige, Italy Unsecured bank loan EUR 1.3% 2027 6 863 7 478Bank Passadore, Italy Unsecured bank loan EUR EURIBOR+1.5% 2028 3 154 2 991Italian banks, ref above Revolving credit facility EUR 1.0-4.75% 2023 29 3 320Total 31 211 37 425Credit facilities Other borrowings TotalBalance at 1 Jan 2022 9 030 28 394 37 425Proceeds from loans and borrowings 4 067 0 4 067Repayment of loans and borrowings (6 499) (5 464) (11 963)Total changes in financial cashflow (2 432) (5 464) (7 896)Translation difference 181 1 501 1 682Total Borrowings at end of period 6 779 24 431 31 211",
"dimensions": {
"concept": "ifrs-full:DisclosureOfOtherNoncurrentLiabilitiesExplanatory",
"language": "en",
"entity": "scheme:5967007LIEEXZXFK0040",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"s7_notes__6__129": {
"value": "Note 27 Interest bearing loansNOK thousandDebt financial institutions Type Currency Facility limit Interest rate Year of maturity 31 Dec 2022 31 Dec 2021Danske Bank Revolving credit facility NOK 20 000 NIBOR+2.75% 2023 6 750 0DNB Revolving credit facility NOK 7 000 6.15% 2022 0 5 710DNB Unsecured bank loan NOK 4.65% 2023 0 185DLL Leasing & finance company NOK 4.5% 2024 244 493The Norwegian Research Council Governmental NOK 3.35% 2022 0 188Bank Intesa, Italy Unsecured bank facilities EUR EURIBOR+1.95%-2.40%2027 8 411 9 824Bank Progetto, Italy Unsecured bank loan EUR EURIBOR+5% 2025 5 759 7 236Bank Carige, Italy Unsecured bank loan EUR 1.3% 2027 6 863 7 478Bank Passadore, Italy Unsecured bank loan EUR EURIBOR+1.5% 2028 3 154 2 991Italian banks, ref above Revolving credit facility EUR 1.0-4.75% 2023 29 3 320Total 31 211 37 425Credit facilities Other borrowings TotalBalance at 1 Jan 2022 9 030 28 394 37 425Proceeds from loans and borrowings 4 067 0 4 067Repayment of loans and borrowings (6 499) (5 464) (11 963)Total changes in financial cashflow (2 432) (5 464) (7 896)Translation difference 181 1 501 1 682Total Borrowings at end of period 6 779 24 431 31 211",
"dimensions": {
"concept": "ifrs-full:DisclosureOfBorrowingCostsExplanatory",
"language": "en",
"entity": "scheme:5967007LIEEXZXFK0040",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"s7_notes__6__128": {
"value": "Note 27 Interest bearing loansNOK thousandDebt financial institutions Type Currency Facility limit Interest rate Year of maturity 31 Dec 2022 31 Dec 2021Danske Bank Revolving credit facility NOK 20 000 NIBOR+2.75% 2023 6 750 0DNB Revolving credit facility NOK 7 000 6.15% 2022 0 5 710DNB Unsecured bank loan NOK 4.65% 2023 0 185DLL Leasing & finance company NOK 4.5% 2024 244 493The Norwegian Research Council Governmental NOK 3.35% 2022 0 188Bank Intesa, Italy Unsecured bank facilities EUR EURIBOR+1.95%-2.40%2027 8 411 9 824Bank Progetto, Italy Unsecured bank loan EUR EURIBOR+5% 2025 5 759 7 236Bank Carige, Italy Unsecured bank loan EUR 1.3% 2027 6 863 7 478Bank Passadore, Italy Unsecured bank loan EUR EURIBOR+1.5% 2028 3 154 2 991Italian banks, ref above Revolving credit facility EUR 1.0-4.75% 2023 29 3 320Total 31 211 37 425Credit facilities Other borrowings TotalBalance at 1 Jan 2022 9 030 28 394 37 425Proceeds from loans and borrowings 4 067 0 4 067Repayment of loans and borrowings (6 499) (5 464) (11 963)Total changes in financial cashflow (2 432) (5 464) (7 896)Translation difference 181 1 501 1 682Total Borrowings at end of period 6 779 24 431 31 211",
"dimensions": {
"concept": "ifrs-full:DisclosureOfBorrowingsExplanatory",
"language": "en",
"entity": "scheme:5967007LIEEXZXFK0040",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"s7_notes__6__133": {
"value": "Note 29 ProvisionsNOK thousand 2022 2021Severance indemnity funds in Italy 10 364 9 586Non-current part of Integra earn-out estimate 0 9 541Other provisions 3 838 3 661Total provision 14 202 22 789",
"dimensions": {
"concept": "ifrs-full:DisclosureOfProvisionsExplanatory",
"language": "en",
"entity": "scheme:5967007LIEEXZXFK0040",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"s7_notes__6__132": {
"value": "Note 29 ProvisionsNOK thousand 2022 2021Severance indemnity funds in Italy 10 364 9 586Non-current part of Integra earn-out estimate 0 9 541Other provisions 3 838 3 661Total provision 14 202 22 789",
"dimensions": {
"concept": "ifrs-full:DisclosureOfOtherProvisionsContingentLiabilitiesAndContingentAssetsExplanatory",
"language": "en",
"entity": "scheme:5967007LIEEXZXFK0040",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"s7_notes__6__136": {
"value": "Note 30 Other current liabilitiesNOK thousand 2022 2021Employer tax and employee withholding tax 22 700 16 172Accrued holiday payments and bonuses 31 987 31 337VAT liabilities 10 121 6 748Severance payments 0 3 069Remaining part of acq.price, Integra 8 569 10 786Other short term liabilities 10 591 14 768Total other current liabilities 83 969 82 880",
"dimensions": {
"concept": "ifrs-full:DisclosureOfOtherCurrentLiabilitiesExplanatory",
"language": "en",
"entity": "scheme:5967007LIEEXZXFK0040",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"s7_notes__6__135": {
"value": "Note 30 Other current liabilitiesNOK thousand 2022 2021Employer tax and employee withholding tax 22 700 16 172Accrued holiday payments and bonuses 31 987 31 337VAT liabilities 10 121 6 748Severance payments 0 3 069Remaining part of acq.price, Integra 8 569 10 786Other short term liabilities 10 591 14 768Total other current liabilities 83 969 82 880",
"dimensions": {
"concept": "ifrs-full:DisclosureOfAccruedExpensesAndOtherLiabilitiesExplanatory",
"language": "en",
"entity": "scheme:5967007LIEEXZXFK0040",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"s7_notes__6__134": {
"value": "Note 30 Other current liabilitiesNOK thousand 2022 2021Employer tax and employee withholding tax 22 700 16 172Accrued holiday payments and bonuses 31 987 31 337VAT liabilities 10 121 6 748Severance payments 0 3 069Remaining part of acq.price, Integra 8 569 10 786Other short term liabilities 10 591 14 768Total other current liabilities 83 969 82 880",
"dimensions": {
"concept": "ifrs-full:DisclosureOfOtherLiabilitiesExplanatory",
"language": "en",
"entity": "scheme:5967007LIEEXZXFK0040",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"s7_notes__6__138": {
"value": "Note 31 Transactions with related partiesNo transactions with related parties during 2022. During 2021, the following transactions were approved by the General meeting in Arribatec Group ASA 20 November in 2020. Ferncliff is a related party to Tycoon Industrier AS, related to \u00d8ystein S. Spetalen, Member of the Board in Arribatec Group ASA.NOK thousand 2022 2021Transactions with related partiesFerncliff AS - Fee for CEO and CFO for hire 0 562Total Related parties transactions 0 562",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForTransactionsWithRelatedPartiesExplanatory",
"language": "en",
"entity": "scheme:5967007LIEEXZXFK0040",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"s7_notes__6__137": {
"value": "Note 31 Transactions with related partiesNo transactions with related parties during 2022. During 2021, the following transactions were approved by the General meeting in Arribatec Group ASA 20 November in 2020. Ferncliff is a related party to Tycoon Industrier AS, related to \u00d8ystein S. Spetalen, Member of the Board in Arribatec Group ASA.NOK thousand 2022 2021Transactions with related partiesFerncliff AS - Fee for CEO and CFO for hire 0 562Total Related parties transactions 0 562",
"dimensions": {
"concept": "ifrs-full:DisclosureOfRelatedPartyExplanatory",
"language": "en",
"entity": "scheme:5967007LIEEXZXFK0040",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"s7_notes__6__139": {
"value": "Note 32 Pledged assetsThe Group have no pledged assets.",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForCollateralExplanatory",
"language": "en",
"entity": "scheme:5967007LIEEXZXFK0040",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"s7_notes__6__140": {
"value": "Note 33 Subsequent eventsSubsequent to 31 December 2022, the following highlights has occurred:1 February, Arribatec announced a proposal of a reverse share split of the Company\u2019s shares in the ratio of 10:1 to meet Oslo B\u00f8rs\u2019 requirements of a minimum share value of NOK 1 per share.",
"dimensions": {
"concept": "ifrs-full:DisclosureOfEventsAfterReportingPeriodExplanatory",
"language": "en",
"entity": "scheme:5967007LIEEXZXFK0040",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
}
}
}