{
"documentInfo": {
"documentType": "https://xbrl.org/2021/xbrl-json",
"features": {
"xbrl:canonicalValues": true
},
"namespaces": {
"EID": "http://eidesvik.no/2022-12-31",
"ifrs-full": "http://xbrl.ifrs.org/taxonomy/2021-03-24/ifrs-full",
"iso4217": "http://www.xbrl.org/2003/iso4217",
"scheme": "http://standards.iso.org/iso/17442",
"xbrl": "https://xbrl.org/2021",
"xbrli": "http://www.xbrl.org/2003/instance"
},
"taxonomy": [
"http://eidesvik.no/2022-12-31/5967007LIEEXZXFOMO31-2022-12-31.xsd"
]
},
"facts": {
"f49": {
"value": "Eidesvik Offshore ASA",
"dimensions": {
"concept": "ifrs-full:NameOfReportingEntityOrOtherMeansOfIdentification",
"language": "en",
"entity": "scheme:5967007LIEEXZXFOMO31",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"pp-value-2-1": {
"value": "VESTVIKVEGEN 1, 5443 B\u00d8MLOANNUAL REPORT 2022 ",
"dimensions": {
"concept": "ifrs-full:AddressOfRegisteredOfficeOfEntity",
"language": "en",
"entity": "scheme:5967007LIEEXZXFOMO31",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"f3076": {
"value": "B\u00f8mmelfjord AS",
"dimensions": {
"concept": "ifrs-full:NameOfUltimateParentOfGroup",
"language": "en",
"entity": "scheme:5967007LIEEXZXFOMO31",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"f3078": {
"value": "Eidesvik Invest AS",
"dimensions": {
"concept": "ifrs-full:NameOfParentEntity",
"language": "en",
"entity": "scheme:5967007LIEEXZXFOMO31",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"f3242": {
"value": "ASA",
"dimensions": {
"concept": "ifrs-full:LegalFormOfEntity",
"language": "en",
"entity": "scheme:5967007LIEEXZXFOMO31",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"f3373": {
"value": "Langev\u00e5g at B\u00f8mlo",
"dimensions": {
"concept": "ifrs-full:PrincipalPlaceOfBusiness",
"language": "en",
"entity": "scheme:5967007LIEEXZXFOMO31",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"f3377": {
"value": "Norway",
"dimensions": {
"concept": "ifrs-full:DomicileOfEntity",
"language": "en",
"entity": "scheme:5967007LIEEXZXFOMO31",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"f3378": {
"value": "Norway",
"dimensions": {
"concept": "ifrs-full:CountryOfIncorporation",
"language": "en",
"entity": "scheme:5967007LIEEXZXFOMO31",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"pp-value-8-1": {
"value": "1.1-31.12NOTES TO THE CONSOLIDATED ACCOUNTSNote 1Eidesvik Offshore ASA (the Company) and its subsidiaries (collectively the Group) offer services within themaritime sector. The Group operates in several segments where the main segments are seismic, subsea andplatform supply vessel services. The Group\u2019s vessels are located across large parts of the world. Eidesvik Offshore ASA is a public limited company registered in Norway and headquartered at Langev\u00e5g inB\u00f8mlo municipality. Eidesvik Offshore ASA is listed at the Oslo Stock Exchange and is subject to the provisionsof the Public Limited Liability Companies Act with regards to limitations in shareholders\u2019 liability to theCompany\u2019s creditors. The annual accounts were submitted by the Board on April 26, 2023, and approved forpublication. The General Meeting approves the final annual accounts and is authorised to require changes tothe accounts before it is approved. All amounts are presented in Norwegian kroner (NOK) and are rounded tothe nearest thousand unless otherwise specified. Information on the ultimate parent company is presented in Note 24. Overview of Group relations: Company Reg. office Owner shareEidesvik Shipping AS B\u00f8mlo 100% Eidesvik AS B\u00f8mlo 100% Eidesvik MPSV AS B\u00f8mlo 100% Eidesvik Shipping International AS B\u00f8mlo 100% Eidesvik Subsea Vessels AS B\u00f8mlo 100% Eidesvik Management AS B\u00f8mlo 100% Eidesvik Maritime AS B\u00f8mlo 100% Eidesvik Neptun AS B\u00f8mlo 74.75% Eidesvik Neptun II AS B\u00f8mlo 74.75% Eidesvik Supply AS B\u00f8mlo 100% Hordaland Maritime Milj\u00f8selskap AS B\u00f8mlo 91% Norsk Rederihelsetjeneste AS B\u00f8mlo 100% Eidesvik Shipping II AS B\u00f8mlo 100% Eidesvik UK LTD UK 100% Joint Ventures: Eidesvik Seven AS B\u00f8mlo 50%Eidesvik Seven Chartering AS B\u00f8mlo 50%Please refer to Note 7 for further information. In addition, the Group owns the following shares: Simsea Holding AS Haugesund 10.4% Bleivik Eiendom AS Haugesund 22.6% Eidesvik Ghana Ltd. Ghana 49% The total book value of these amounts to MNOK 3.1 and is not considered material. Please refer to Note 21for further information. NOTE 2 \u2013 ACCOUNTING PRINCIPLES The most important accounting principles used in the preparation of the consolidated accounts are describedbelow. These principles are applied in the same way in all periods presented, unless otherwise stated in thedescription. 2.1 Main principles The consolidated accounts of the Eidesvik Offshore Group have been prepared in accordance with InternationalFinancial Reporting Standards (IFRS), as adopted by the EU, and interpretations adopted by the InternationalAccounting Standards Board (IASB). The consolidated accounts have been prepared on the basis of the historical cost principle, however, it hasbeen modified for the following: financial derivatives and financial assets classified as \u201cfair value through theprofit and loss account\u201d, which have been valuated at fair value. An asset is presented as short-term if it is expected to be realised within twelve months of the balance sheetdate as part of ordinary operations, if it is an asset owned with purchase and sale as its main purpose, or if itis cash or cash equivalents. Debt is presented as short-term if there is no unconditional right to postpone payment at least twelve monthsfrom the balance sheet date, or it is a debt with purchase and sale as its main purpose. Long-term debt isreclassified as short-term debt when there are 12 months left to maturity. The same applies to the first year\u2019srepayment on long-term debt maturing within twelve months from the balance sheet date. The accounts are prepared in accordance with IFRS. This means that the management has used estimates andassumptions that have affected assets, debt, income, expenses, and information on potential liabilities. Cash flow statements are prepared according to the direct method. 2.2 Principles of consolidation The consolidated accounts include parent company Eidesvik Offshore ASA and companies controlled byEidesvik Offshore ASA. Control is obtained when the Group is exposed to, or is entitled to, variable returnresulting from the Group\u2019s involvement, and the Group is able to influence the return through its influence inthe Company. a) Subsidiaries Subsidiaries are all entities where the Group has controlling influence on the entity\u2019s financial and operationalstrategy, normally through owning more than half the voting capital. When determining whether there iscontrolling influence, one includes the effect of potential voting rights which can be exercised or converted onthe balance sheet date. Subsidiaries are consolidated from the time control is transferred to the Group, andare excluded from consolidation when control ceases. Stocks and shares in subsidiaries are recorded at costand eliminated against the equity of the subsidiary at the time of takeover or establishment. b) Associates/Joint ventures The Group\u2019s investment in its associates and joint ventures are accounted for under the equity method ofaccounting. An associate is an entity in which the Group has significant influence, but which is not a subsidiary.A joint arrangement is either a joint operation or a joint venture. Companies where the Group has joint controlwith another party, are defined as joint ventures, as it has rights to the net assets of the arrangement. Jointventures exist if there is 50/50 ownership, or if it is otherwise regulated so that the parties have joint control. The Group does not capitalise its share of deficits if this means that the capitalised value of the investment will be negative (including unhedged receivables on the entity), unless the Group has assumed liabilities or provided guarantees for the joint venture\u2019s liabilities. c) Non-controlling interests Non-controlling interests\u2019 (minority interests) share of the equity is shown on a separate line in the Group\u2019sequity. Non-controlling interests include the minority share of the capitalised value of subsidiaries, includingthe share of identifiable added value at the time of acquisition of a subsidiary. 2.3 Segment Information Segments are reported in the same way as for reporting to the Company\u2019s supreme decision maker. The Boardis defined as the Company\u2019s supreme decision maker, and is responsible for allocating resources andassessment of earnings in the various segments. The Group\u2019s reporting format is associated with businessareas, secondary information associated with geographical areas is not used, as this does not make sensestrategically. The three primary operating segments are divided into Supply vessels (PSV), Subsea/Wind, andSeismic. In addition to this, other activities, which includes, among other things, vessels under construction, isplaced in a separate segment. As the joint ventures are significant with regard to the core activities, gross figures from underlying companiesare included in segment information. 2.4 Conversion of foreign currencies a) Functional currency and presentation currency The accounts of the individual entities in the Group are measured in the currency mainly used in the economicarea where the entity operates (functional currency). The consolidated accounts are presented in Norwegiankroner (NOK), which is both the functional currency and the presentation currency of the parent company. Inorder to calculate the share of profit from joint ventures, balance sheet figures in a different currency aretranslated at the exchange rate of the balance sheet date, while profit and loss items are translated at thequarterly average exchange rate. Translation differences are recognised as other income or costs directly inthe equity. b) Transactions and balance sheet items Transactions in foreign currencies are translated to the functional currency using the transaction exchangerate. Currency gain and loss occurring when paying such transactions, and when translating monetary items(assets and liabilities) in foreign currencies at year end on the balance sheet date, are recognised. Monetaryitems and liabilities in other currencies are translated at the exchange rate of the balance sheet date. Currencygains and losses are included in the income statement as \u201cNet currency gain/loss\u201d. 2.5 Vessels, depreciation and other fixed assets Vessels and other fixed assets are recognised at historical cost minus accumulated depreciation andimpairments. Each part of the asset that has material share of the total cost is depreciated separately andlinearly over the useful life of the asset. Components with the same useful life are depreciated as onecomponent. The depreciation period and method are evaluated at each balance sheet date to ensure that themethod and the period used correspond with the financial realities for the asset. The same applies to scrapvalue, which is subject to an annual assessment. Estimated useful life: Vessels 15-30 years Property/fixtures 5-20 years Equipment 3-5 years Periodic maintenance 30-60 months Port facilities N/A At the time of delivery for new vessels, an amount corresponding to the expected cost at the first ordinaryclassification/periodic maintenance is separated. This amount is depreciated over the period until the nextdocking date. Costs associated with subsequent periodic maintenance are capitalised and depreciated until thenext periodic maintenance, generally over 30\u201360 months. Costs of ongoing maintenance and minor repairs andmaintenance are expensed as they incur. 2.6 Assets held for sale Non-current assets held for sale consist of vessels that have been decided to be disposed of, by sale or otherwise. Noncurrent assets classified as held for sale are measured at the lower of their previous carrying amount and their fair value less costs of disposal. Any excess of the carrying amount over the fair value lesscost of disposal is recognized as an impairment loss. Depreciation of such assets is discontinued as from their classification as held for sale. Leases The Group assesses at contract inception whether a contract is, or contains, a lease. That is, if the contractconveys the right to control the use of an identified asset for a period of time in exchange for consideration. Group as a lessee The Group applies a single recognition and measurement approach for all leases, except for short-term leasesand leases of low-value assets. The Group 9ecognized lease liabilities to make lease payments and right-of-use assets representing the right to use the underlying assets. i)Right-of-use assets The Group 9ecognized right-of-use assets at the commencement date of the lease (i.e., the date the underlyingasset is available for use). Right-of-use assets are measured at cost, less any accumulated depreciation andimpairment losses, and adjusted for any remeasurement of lease liabilities. The cost of right-of-use assetsincludes the amount of lease liabilities 9ecognized, initial direct costs incurred, and lease payments made ator before the commencement date less any lease incentives received. Right-of-use assets are depreciated ona straight-line basis over the shorter of the lease term and the estimated useful life of the assets, as follows: Buildings 0,5-32 years Vehicles 8-17 months If ownership of the leased asset transfers to the Group at the end of the lease term or the cost reflects theexercise of a purchase option, depreciation is calculated using the estimated useful life of the asset. ii) Lease liabilities At the commencement date of the lease, the Group recognises lease liabilities measured at the present valueof lease payments to be made over the lease term. The lease payments include fixed payments (includinginsubstance fixed payments) less any lease incentives receivable, variable lease payments that depend on anindex or a rate, and amounts expected to be paid under residual value guarantees. The lease payments alsoinclude the exercise price of a purchase option reasonably certain to be exercised by the Group and paymentsof penalties for terminating the lease, if the lease term reflects the Group exercising the option to terminate.Variable lease payments that do not depend on an index or a rate are recognised as expenses (unless they areincurred to produce inventories) in the period in which the event or condition that triggers the payment occurs.In calculating the present value of lease payments, the Group uses its incremental borrowing rate at the leasecommencement date because the interest rate implicit in the lease is not readily determinable. After thecommencement date, the amount of lease liabilities is increased to reflect the accretion of interest and reducedfor the lease payments made. In addition, the carrying amount of lease liabilities is remeasured if there is amodification, a change in the lease term, a change in the lease payments (e.g., changes to future paymentsresulting from a change in an index or rate used to determine such lease payments) or a change in theassessment of an option to purchase the underlying asset. iii) Short-term leases and leases of low-value assets The Group applies the short-term lease recognition exemption to its short-term leases of machinery andequipment (i.e. those leases that have a lease term of 12 months or less from the commencement date and donot contain a purchase option). It also applies the lease of low-value assets recognition exemption to leases ofoffice equipment that are considered to be low value. Lease payments on short-term leases and leases of low-value assets are recognised as expense on a straight-line basis over the lease term. Group as a lessor Leases in which the Group does not transfer substantially all the risks and rewards incidental to ownership ofan asset are classified as operating leases. Rental income arising is accounted for on a straight-line basis overthe lease terms and is included in revenue in the statement of profit or loss due to its operating nature. Initialdirect costs incurred in negotiating and arranging an operating lease are added to the carrying amount of theleased asset and recognised over the lease term on the same basis as rental income. Contingent rents arerecognised as revenue in the period in which they are earned. 2.7 Impairment of fixed assets The book value of tangible fixed assets is assessed for impairment when events or changes in circumstancesindicate that book value cannot be recovered. If such indications are discovered, and the book value exceedsthe recoverable amount, the asset is impaired to the recoverable amount, which for tangible fixed assets is thehigher of expected net sales price and value in use. Value in use is calculated as the present value of futurecash flows. If the reason for the impairment lapses at a later time, and the lapse can be tied to an event takingplace after the impairment is recognised, the previous impairment is reversed. 2.8 Sale of vessels Profit or loss on the sale of vessels is recorded on the line of other income.2.9 New builds Vessels under construction are capitalised as instalments are paid, along with costs directly associated withthe construction, such as supervision, other construction costs and interest on external financing during theconstruction period. The capitalised value is reclassified to vessels when the vessel is delivered from theshipyard and is ready for use. Depreciation of vessels starts on the same date. 2.10 Financial assets Financial assets are classified, at initial recognition, as subsequently measured at amortised cost, fair valuethrough other comprehensive income (OCI), and fair value through profit or loss. Fair value through othercomprehensive income (OCI) is not relevant for the Group. The Group uses derivatives such as currency contracts and interest swaps to reduce the risk associated withcurrency and interest rate fluctuations. The derivatives are presented as an asset with a positive value or aliability with a negative value. a) Financial assets at fair value through profit and lossA financial asset is classified in this category if it is acquired primarily to make a profit from short-term pricefluctuations, or if the management chooses to classify it in this category. Derivatives are also classified as \u2018heldfor trading\u2019. Assets in this category are classified as current assets if they are held for trading or if they areexpected to be realised within 12 months after the balance sheet date. Profit or loss from changes in fair value of assets classified as \u201cfinancial assets at fair value through profit andloss\u201d, including interest income and dividends, is included in the income statement under \u201cchange in value,derivatives\u201d in the period where they occur. b) Financial assets at amortised costIn order for a financial asset to be classified and measured at amortised cost or fair value through OCI, it needsto give rise to cash flows that are \u201csolely payments of principal and interest\u201d (\u201cSPPI\u201d) on the principal amountoutstanding. This assessment is referred to as the SPPI test and is performed at an instrument level. Financialassets with cash flows that are not SPPI are classified and measured at fair value through profit or loss,irrespective of the business model. Loans and receivables are non-derivative financial assets with fixedpayments that are not traded on an active market. They are classified as current assets, unless they maturemore than 12 months after the balance sheet date. In such cases, they are classified as non-current assets.Loans and receivables are classified as accounts receivable and other receivables on the balance sheet. Ordinary acquisitions and sales of investments are recognised at the date of the transaction. All financial assetsthat are not recognised at fair value through profit and loss are initially recorded at fair value plus transactioncosts. The exception is accounts receivable, which are recognised for the first time at the transaction price inaccordance with IFRS 15, ref. IFRS 9.1.5.3. Financial assets recognised at fair value through profit and lossare recognised on acquisition at fair value and transaction costs are posted to expenses. Investments areremoved from the balance sheet when the entitlement to cash flows from the investments cease, or when suchentitlement is transferred and the Group has basically transferred all risk and all potential profit from ownership.Financial assets available for sale and financial assets at fair value through the profit and loss account arevaluated at fair value after the first recognition. Loans and receivables are recognised at amortised cost usingthe effective interest method. The Group recognises an allowance for expected credit losses (ECLs) for all debt Instruments not held at fairvalue through profit or loss. ECLs are based on the difference between the contractual cash flows due inaccordance with the contract and all the cash flows that the Group expects to receive, discounted at anapproximation of the original effective interest rate. The expected cash flows will include cash flows from thesale of collateral held or other credit enhancements that are integral to the contractual terms. 2.11 Derivatives and hedging The Group does not use accounting hedging, and none of the Group\u2019s derivatives are designated hedginginstruments. The Group recognises derivatives at fair value with value changes through profit/loss. The purposeof the derivatives is to secure the Group\u2019s cash flow against fluctuations in interest and exchange rates. Referto Note 23 for an overview of the Group\u2019s derivatives at 31.12.2022. 2.12 Accounts receivable Accounts receivable are measured the first time at the transaction price in accordance with IFRS 15. Forsubsequent measurements, accounts receivable is assessed at amortised cost determined by using theeffective interest method, less provision for expected loss. The Group has chosen to apply the practicalsimplification approach to calculate losses on accounts receivable. The group has established a provisionmodel that is based on historical credit loss experience, adjusted for forward-looking factors specific to thedebtors and the economic environment. The group has historical had minor losses on trade receivables. SeeNotes 3 and 14. 2.13 Cash and cash equivalents Cash and cash equivalents consist of cash, bank deposits, and other short-term and easily negotiable investments with a maximum of three months\u2019 original maturity and overdraft facilities. In the balance sheet,overdraft facilities are included in loans under short-term liabilities. 2.14 Share capital Ordinary shares are classified as share capital. Expenses directly associated with issuing new shares or options with tax deductions, are recorded as reductionin received consideration in equity (premium on shares). 2.15 Accounts payable Payables are measured at fair value at the first recognition. For subsequent measurements, payables areassessed at amortised cost determined by using the effective interest method. 2.16 Loans Loans are recognised at the accrued amount when the loan is disbursed, less transaction costs. In subsequentperiods, loans are recognised at amortised cost using the effective interest method. The difference betweenthe disbursed loan amount (minus transaction costs) and the redemption value is recognised over the term ofthe loan. When loans are renegotiated, a view is taken as to whether the renegotiated loan should be treated as acontinuation of the old loan or as a new loan (IFRS 9.3.3.1-9.3.3.3). The main rule of IFRS 9.3.3.1 is that afinancial liability should only be derecognised in cases where the liabilities specified in the contract have beendischarged, cancelled or expired. When a company has its debts renegotiated without a change of lender,however, the old loan is derecognised and a new loan recognised if the renegotiation involves significantchanges in the conditions related to the debt. If there are no significant changes, the difference between thepresent value of the modified cash flow and the original amortised cost is recognised through profit/loss (seeNote 8). 2.17 Pension liabilities, bonus schemes and other compensation schemes for employees a) Pension liabilities The companies in the Group have different pension schemes. Pension schemes are mainly financed throughpayments to insurance companies or pension funds. The Group\u2019s pension schemes are a defined contributionscheme and a defined benefit plan. A defined benefit plan is typically a pension scheme which defines a pensionpayment an employee will receive on retirement. Pension payments normally depend on several factors, suchas age, number of years in the company, and salary. The recognised liability associated with a defined benefit plan is the present value of the defined benefit on thebalance sheet date minus the fair value of the pension funds (in cases where the scheme is hedged). Thepension liability is calculated annually by an independent actuary using a linear accrual method. The presentvalue of the defined benefit is determined by discounting estimated future disbursements based on the intereston corporate bonds with high credit rating using OMF interest rates. Changes in benefits from the pension plan are recorded as income or charged to expenses on an ongoing basis,unless the rights under the new pension scheme are conditional on the employee remaining in service for aspecified period in the vesting period. In this case the cost associated with the changed benefit is amortisedon a linear basis over the vesting period. b) Bonus agreements and severance pay In some cases, employment agreements are made which give the right to bonus in relation to fulfilment ofdefined financial and non-financial criteria, as well as agreements which give the right to severance pay if theemployer terminates the employment. The Group raises provisions in cases where there is a formal obligationto make disbursements. 2.18 Provisions The Group raises provisions for environmental improvements and legal requirements when: There is a statutoryor self-imposed obligation arising from previous events, there is a strong likelihood that the obligation will haveto be met in the form of a transfer of financial resources, and the size of the obligation can be estimated witha sufficient degree of reliability. In cases where there is more than one obligation of the same nature, the probability of the obligation having tobe met will be determined by assessing the group as a whole. Provisions for the Group are raised even thoughthe probability of settlement with regard to the individual elements in the group is low. Provisions are measured at present value of expected disbursements to fulfil the obligation. A discount ratebefore tax is used which reflects the current market situation and risk specific to the obligation. The increasein the obligation due to changes in time value is recorded as interest expenses. 2.19 Income and expense recognition principles Income from the sale of goods and services is measured at fair value, net of commission, rebates and discounts.Intragroup sales are eliminated. Income is recognised as follows: a) Sale of services Except for the seismic fleet, most of the Group\u2019s vessels have been contracted on time charters (TC) throughoutthe year. This means that the charter is agreed as a lease of a vessel with crew. The charterer decides (withinagreed limitations) how the vessel is to be used. The time charter lapses in periods when the vessel is notoperational (is \u201coff hire\u201d), e.g. during repairs. The shipping company pays for the crew, supplies, insurance,repairs, administration, etc., while the charterer pays the \u201cvoyage-dependent\u201d expenses such as bunkers, portfees and expenses for loading and unloading. In addition to leasing the vessel, there may be agreements for additional services in the form of hiring extracrew, sale of provisions and coverage of other operating expenses. Lease income for leasing vessels is recognised on a linear basis through the lease period. The lease periodstarts from the date when the vessel is at the lessee\u2019s disposal, and ends with its agreed return. Lease of crew and payments to cover other operating expenses are recognised on a linear basis through thecontract period When a contract is cancelled, the remaining contract is recorded as income when the vessel is returned. b) Interest income Interest income is recognised proportionally over time in accordance with the effective interest method. Whenreceivables are written down, the capitalised value is reduced to the recoverable amount. The recoverableamount is the estimated future cash flow discounted at the original effective interest rate. After impairment, theinterest income is recognised on the basis of the original effective interest rate. c) Dividend income Dividend income is recognised when this has been determined by the General Meeting.2.20 Public subsidies Subsidies from the net pay scheme and the reimbursement scheme for seamen are recorded as a cost reduction(under \u201cpayroll expenses\u201d). 2.21 Dividends Disbursements of dividends to the Company\u2019s shareholders are classified as debt from the date when thedividend is determined by the General Meeting. 2.22 Events after the balance sheet date New information after the balance sheet date on the Company\u2019s financial position on that date has beenconsidered in the annual accounts. Subsequent events that do not affect the Company\u2019s financial position onthe balance sheet date, but will affect it in the future, are reported if they are significant. 2.23 Earnings per share accruing to the parent company\u2019s shareholders The calculation of earnings per share is based on the majority share of net profit, using the weighted averageoutstanding number of shares through the year. The diluted earnings per share are based on the majority shareof the net profit using the average outstanding number of shares and outstanding options. 2.24 Taxes Taxes are expensed as they are incurred. The tax costs consist of tax payable and the change in deferredtaxes. Deferred tax/deferred tax assets are calculated by the liability method. Deferred tax/deferred tax assetsare calculated based on tax rates and tax legislation which has been adopted (or adopted for all practicalpurposes) on the balance sheet date, and which is assumed to be used when the deferred tax is settled.Deferred tax/deferred tax assets are calculated per tax area and is presented gross in the balance sheet. Deferred tax assets are recognised to the extent that it is likely that there will be taxable income in the future,and that the temporary differences can be deducted from this income. The parent company and some other companies in the Group are subject to ordinary taxation. Severalcompanies in the Group are subject to tonnage tax, classified as an operating expense and not in accordancewith IAS 12 Taxes abroad are recorded in the periods in which they are incurred. To the extent that tax is calculated on thebasis of income, this is classified as an income reduction and presented together with operating income. Taxesabroad calculated on the basis of net profit are classified as tax costs. 2.25 Discontinued operations \u2013 assets and liabilities held for sale Non-current assets (or disposal groups) are classified as \u2018held for sale\u2019 when the capitalised amount is mainlyrealised through a sales transaction, and a sale is considered highly likely. They are measured at the lower ofcapitalised value and fair value minus sales costs. 2.26 Changes in accounting policies The accounting principles applied are consistent with the principles used in previous periods.2.27 Significant accounting estimates and matters associated with uncertainty in estimates Preparing accounts in accordance with applicable standards and practice requires the management to prepareestimates and make assessments that affect recorded assets and liabilities as well as information on contingentassets and latent obligations on the reporting date, including income and expenses for the reported period. Thefinal outcomes may differ from the estimates. Some amounts included in or affecting the accounts andassociated notes require estimates, which in turn mean that the Group has to make assessments with regardto values and matters which are not known at the time of preparing the accounts. A significant \u201caccountingestimate\u201d could be defined as an estimate which is important to giving a true picture of the Group\u2019s financialposition, but is also the result of difficult, subjective and complex assessments made by the management. Suchestimates are often uncertain by nature. The management reviews such estimates on an ongoing basis, basedon both history and experience, but also from consultations with experts, trend analyses, and other methodswhich are considered relevant for each estimate. Estimates and assessments that could have a significanteffect on the accounts are described below. a) Vessels - Economic life/useful life The level of depreciation depends on the estimated economic life of the vessels. The estimate is based onhistory and experience related to the vessels which are included in the Group. The Group\u2019s main strategy is tokeep the vessels until they are scrapped. However, there are ongoing evaluations where the main strategy canbe deviated from when financial conditions dictate. The estimate is reviewed each year. A change in theestimate will affect depreciation in future periods. - Residual value at the end of economic life The level of depreciation depends on the estimated residual value on the balance sheet date. Expected residualvalue is based on the knowledge of scrap values for vessels. The scrap value is dependent on steel prices.The estimate of scrap value is subject to annual review. - Impairment On the balance sheet date, the Group has made an assessment of whether there are indications that vesselsmay need to be impaired. When such indications exist, the recoverable amount for the vessel is estimated, and the value of the vessel iswritten down to the recoverable amount. Refer to Note 12 for more details on the principles, estimates and matters associated with uncertainty in theestimate that have been applied. b) Leases Recognition of leases and income For contracts where the Group acts as a lessor, it classifies each of its leases as either an operating lease ora finance lease. A lease is classified as a finance lease if it transfers substantially all the risks and rewardsincidental to ownership of an underlying asset. A lease is classified as an operating lease if it does not transfersubstantially all the risks and rewards incidental to ownership of an underlying asset. The group as a lessor does not have any finance leases. Operating leases For operating leases, the Group 15ecognized lease payments as other income, mainly on a straight-line basis,unless another systematic basis is more representative of the pattern in which benefit from the use of theunderlying asset is diminished. The Group 15ecognized costs incurred in earning the lease income in otheroperating expenses. The Group adds initial direct costs incurred in obtaining an operating lease to the carryingamount of the underlying asset and 15ecognized those costs as an expense over the lease term on the samebasis as the rental income. c) Long-term receivables Under other non-current receivables, EIOF recorded in 2017 a receivable of MUSD 27.5 (total MNOK 235). The2017 accounts assumed that the receivables from Global Seismic Shipping AS had a value of 45% of par.Consequently, in the accounts as at December 31, 2017, these receivables were written down by 55%. Nochanges have been made to this as at December 31, 2021. If the reason for the impairment lapses at a later time, and the lapse can be tied to an event taking place afterthe impairment is recognised, the previous impairment is reversed. This evaluation has to be made each quarterbased on an overall assessment. Refer to Note 7 for a more detailed description/analysis. As the repaymentsare repaid, the impaired part of the payment will be recorded as income. Any reversal will be recorded as otherfinancial income. d) Climate and Regulatory Risks In preparing the financial statement, the Group, has considered the impact of regulatory changes in particularin the context in climate change risks. The considerations did not impact our judgement and estimates in thecurrent year. Climate risk is also considered in estimates that include the use of future cashflows. The most important key assumptions and sources of uncertainties identified are: \u2022 Usefull life of vessels \u2022 Residual value of vessels \u2022 Cash flow from operations \u2022 Short term and long term investments Eidesvik has been a frontrunner in adopting new technologies that reduces emissions. By the end of 2022 92%of the fleet has hybrid fuel solutions and the company achieved 26.5% year on year reduction in CO2 reductionper day. Refer to Note 12 for more information. NOTE 3 \u2013 FINANCIAL RISK MANAGEMENT Financial risk The Group is exposed to a variety of financial market risk factors through its activities. Financial market risk isthe risk that fluctuations in exchange rates, interest rates and charter rates will affect the value of the Group\u2019sassets, liabilities and future cash flows. The Group\u2019s overall risk management plan focuses on the unpredictability of the capital markets and seeks tominimize the potential adverse effects on the Group\u2019s financial performance. Elements included in themanagement of financial risk are the contract length on charters, use of currency and interest-bearinginstruments, and debt in the same currency as expected payments of charter income. The main focus for themanagement of currency and interest rate risk is to hedge future cash flows. The hedge positions for the cashflows are recorded at fair value with value changes through profit/loss. This exposes the accounts to fluctuationsin the value of the hedging instruments for the cash flow. In Eidesvik Offshore ASA, risk management of therevenues reported in the accounts is subordinate to risk management of the cash flows. The Group does notperform hedge accounting. The Group\u2019s risk management is handled by management according to guidelines from the Board. a) Market risk (i) Currency risk (see also Note 23) The Group operates internationally and is exposed to fluctuations in exchange rates for several currencies.Currency risk arises from future transactions, and relates to booked assets and liabilities. To manage the currency risk from future commercial transactions and booked assets and liabilities, the Groupuses currency derivatives. The Group also, to a certain extent, have loans in the same currency as expectedfuture income. The Group is particularly exposed to fluctuations in USD, as it has considerable charter income but lowoperating costs in this currency. It seeks to reduce fluctuations with loans and currency forward contracts inthe same currency. At December 31, 2022, the Group\u2019s long-term liabilities were divided between 73% NOKand 27% USD. At December 31, 2021 it was 45% NOK and 55% USD. The major change is related to the sale of Viking Neptun in 2022 and the repayment of its USD loan. The Company\u2019s exposure to USD on the balance sheet date is shown in table below, and is significantly reduceddue to the sale of Viking Neptun in 2022. The table below shows estimated change in net profit before tax inmillion NOK if the USD rate against NOK had been 50 \u00f8re higher/lower at December 31, 2022. The table doesnot reflect potential effects on impairment regarding value in use for vessels with income in USD. +50 \u00f8re -50 \u00f8re Operating profit before profit from associates and joint ventures 0,0 0,0 Profit from joint ventures 0,0 0,0 Net financial income excluding agio/disagio on long-term debt 0,0 0,0 Agio/disagio -4,6 4,6 Profit/loss for the year -4,6 4,6 Translation difference, shares 0,0 0,0 Total comprehensive income -4,6 4,6 (ii) Interest rate risk (see also Note 23) The Group\u2019s interest rate risk is related to long-term loans and deposits of surplus liquidity. Loans with floatinginterest rates involve a risk for the Group\u2019s cash flow. Fixed rate loans exposes the Group to fair value interestrate risk. The interest rate risk is managed by use of interest derivatives (swaps and caps) within guidelinesfrom the Board. The effect of a change in interest rates is simulated in order to support decisions on fixed rate contracts. Thesimulation illustrates the cash effect of a change in interest rate based on the size of the loan and the level ofcurrent interest rate hedging. An increase of 1 percentage point in the interest rate, all else being equal, woulddecrease net profit before tax by approximately MNOK 5. (b) Credit risk The Group has a concentration risk as charter contracts are signed with relatively few customers. Eidesvik\u2019scustomers are mainly solid companies with good solvency. The risk of counterparties not having the financialcapacity to fulfil their obligations is considered relatively low. Overdue receivables are followed up monthly.The Group has chosen to apply the practical simplification rule to calculate losses on accounts receivable. Lossprovisions are raised based on historical data, adjusted for forward-looking factors specific to the debtors andthe economic environment. The following table categorises the Group\u2019s receivables according to the risk of non-recovery of outstanding amounts: Accounts receivable 2022 2021 Group 1 138 779 120 800 Group 2 357 8 681 Group 3 2 623 1 462 Total 141 759 101 416 Group 1: Established customer relationship, good solvency/willingness Group 2: New customers, possibly slow recovery Group 3: Established customer relationship, weaker solvency/willingness The Group has significant long-term receivables from a company in the Global Seismic Shipping AS group thatwas sold in January 2020. These receivables are posted in the accounts at a significantly lower value due toprovisions for counterparty risk from the company\u2019s charterer. The recorded value of the receivables wasmeasured for revenue recognition in 2017 at less than the nominal value. This was in accordance withobservable sales of securities issued by the same counterparty. The credit risk on the receivables is consideredto be lower, and indications of changes in the valuation of these are assessed continuously. The impairment ofthe long-term receivables has been reversed to reflect the repayments received. See Notes 5 and 13 for furtherinformation. Maximum risk exposure is represented by the capitalised value of the financial assets, including derivatives,on the balance sheet. As the counterparties in derivatives trading are large well-known banks, the credit riskassociated with derivatives is considered low. (c) Liquidity risk The Group aims to manage the cash flow from operations by focusing on long-term charters with little pricevolatility. Surplus liquidity is mainly placed in ordinary bank deposits. The Group monitors the risk of a lack of available capital through liquidity budgets for subsequent years, aswell as a monthly 24-month liquidity forecasts. Longer term liquidity forecasts are prepared several times peryear. The current liquidity position of the Group is satisfactory for the next 12 months considering the agreedstrefinancing in 1 Quarter 2023. See also Note 20 for information on amortisation profiles/refinancing needs for long-term liabilities. The following table sums up the maturity profile for the Group\u2019s liabilities at December 31, 2022, based oncontractual, non-discounted cash flows. Estimated interest is based on current interest and exchange rates atDecember 31, 2022. Maturity statement for capitalised liabilities, December 31, 2022: 2023 2024 2025 2026 2027 Later Loans* 1 095 934 43 542 0 0 0 0 Accrued interest 5 965 0 0 0 0 0 Derivatives -17 766 -17 766 -8 883 0 0 0 Accounts payable 30 022 0 0 0 0 0 Other current liabilities 177 707 0 0 0 0 0 Subtotal debt items excl. market value derivatives 1 291 862 25 776 -8 883 0 0 0 Estimated interest Interest payments on existing loans 68 027 1 550 0 0 0 0 Adjustment incurred 31.12.2022 -5 965 0 0 0 0 0 Subtotal assumed interest 62 062 1 550 0 0 0 0 Leases Leases (Note 22) 7 687 7 656 7 608 7 608 7 546 34 467 Total contractual commitments falling due 1 361 611 34 981 -1 275 7 608 7 546 34 467 Maturity statement for capitalised liabilities, December 31, 2021: 2022 2023 2024 2025 2026 LaterLoans* 128 364 1 676 479 80 035 36 494 36 494 18 247Accrued interest 7 674 0 0 0 0 0Derivatives 1 445 -4 869 -4 869 -2 435 0 0Accounts payable 48 234 0 0 0 0 0Other current liabilities 140 929 0 0 0 0 0Subtotal debt items excl. market value derivatives 326 644 1 671 610 75 166 34 059 36 494 18 247Estimated interest Interest payments on existing loans 73 274 70 038 5 034 2 323 1 161 749Adjustment incurred 31.12.2021 -7 674 0 0 0 0 0Subtotal assumed interest 65 600 70 038 5 034 2 323 1 161 749Leases Leases (Note 22) 6 476 6 460 6 460 6 460 6 460 38 761Total contractual commitments falling due 398 720 1 748 108 86 660 42 842 44 115 57 757*Liabilities related to Assets held for sale will become due and payable at the time of completion of the sale. Risk management of capital A primary goal for the Group is to secure long-term financing of its assets. On February 22, 2023, Eidesvikannounced that it had agreed on a term sheet (\u201cTerm Sheet\u201d) with its financial institutions for refinancing of itsdebt. With debt maturity in Q1 2026 and aligned amortization payments, the agreed terms significantlystrengthened the Group\u2019s financial position. On March 28, 2023, the final agreements and documentation werein place and the new terms for the Group\u2019s financing became effective. Please see note 20 for furtherinformation. NOTE 4 \u2013 SEGMENT INFORMATION The Group\u2019s activities are divided into strategic operating segments according to the nature of the vessels\u2019activities. The various operating segments offer different shipping services, address partially different customergroups, and have different risk profiles. The Group is divided into the following operating segments: a. Seismic b. Subsea/Offshore Wind c. Supply d. Other The Seismic segment delivers shipping services to customers who produce seismic data. At the end of 2022,all seismic vessels were in layup and held for sale. Refer to note 12 for further information of the seismic fleet.The Subsea/Offshore Wind segment delivers shipping services for subsea work for the oil industry. The vesselsare specially adapted to tasks such as subsea inspection, maintenance, repairs and construction. Several ofthe Company\u2019s subsea vessels meet the requirements in the Offshore Wind market, and one vessel is currentlychartered in this market. The Supply segment delivers services to the offshore oil industry. The vessels deliver supplies to rigs, andfunction as part of the rig\u2019s emergency preparedness. Transactions between segments are eliminated. These are mainly administration costs that are charged to eachsegment. Long-term financial items in the Group are not allocated, as the Group\u2019s liabilities are mainly included in fleetfacilities. Assessment of fair value IFRS 7 requires financial instruments measured at fair value on the balance sheet date to be presented bylevel, with the following level classification for measuring fair value: 1) Quoted price in an active market for an identical asset or liability (level 1) 2) Valuation based on other observable factors, either directly (price) or indirectly (derived from prices)other than the quoted price (used in level 1) for the asset or liability (level 2) 3) Valuation based on factors not taken from observable markets (non-observable assumptions) (level3) The following balance sheet items represent financial instruments at fair value: Balance sheet item: Level Cash and cash equivalents 1 Derivatives 2 Financial investments 2 Derivatives are recognised on the basis of valuations from the counterparty (mark to market). Debts to credit institutions with floating interest rates are recognised at amortised cost, and are valued atapproximate fair value. Fixed-rate loans (CIRR) are recorded at amortised cost, and the estimated value isdescribed in Note 23. The fair value of fixed-rate loans is calculated by discounting the difference between thefixed rate and the market rate at December 31, 2022, with a duration equal to the term of the loan. Cost is considered equivalent to fair value for the equity investments discussed in Note 21. Short-term liabilities are allocated to the segments where possible. Items that do not belong to any of the segments is recorded under \u201cOther\u201d. Segment performance is assessed on the basis of operating profit, and is consistently measured against operating profit in the consolidated financial accounts. The effect of applying IFRS 15 to the Group\u2019s revenues from contracts with customers is described in Note 2. Operating segments (NOK thousands) Seismic Subsea / Offshore Supply Other Consolidated Wind Operating segments 2022 2021 2022 2021 2022 2021 2022 2021 2022 2021Segment result Operating income (IFRS 15) 0 0 128 123 130 600 200 642 179 129 24 083 20 882 352 849 330 611Bareboat income (IFRS 16) 28 206 21 515 164 554 156 020 103 215 77 710 0 0 295 975 255 245Operating income from JV * (IFRS 15) 0 0 38 250 35 861 0 0 0 0 38 250 35 861Bareboat income from JV * (IFRS 16) 0 0 15 645 16 197 0 0 0 0 15 645 16 197Gain on sale 0 0 269 723 0 0 1 942 0 0 269 723 1 942Total operating income 28 206 21 515 616 296 338 677 303 857 258 781 24 083 20 882 972 442 639 855Operating expenses 18 975 13 798 141 448 158 172 210 783 191 748 53 128 45 368 424 334 409 086Operating expenses share from JV * 0 0 37 783 34 604 0 0 0 0 37 783 34 604Total operating expenses 18 975 13 798 179 231 192 776 210 783 191 748 53 128 45 368 462 117 443 689Depreciation 14 026 36 135 38 916 86 281 84 192 80 009 5 773 5 536 142 907 207 961Depreciations share from JV * 0 0 18 925 18 673 0 0 0 0 18 925 18 673Impairment on assets 16 053 48 599 -36 564 -192 396 -188 726 0 0 0 -209 237 -143 797Impairment on assets share from JV * 0 0 0 0 0 0 0 0 0 0Total depreciation 30 079 84 734 21 277 -87 442 -104 534 80 009 5 773 5 536 -47 405 82 837Operating profit incl. share of the JVs * -20 848 -77 017 415 788 233 344 197 608 -12 976 -34 818 -30 022 557 730 113 329Net finance items and tax in JV* 0 0 -6 831 -5 571 0 0 0 0 -6 831 -5 571Impairment JV ** 0 0 0 0 0 0 0 0 0 0Share of profit from associated companies 0 0 0 0 0 0 523 874 523 874Operating profit -20 848 -77 017 408 958 227 773 197 608 -12 976 -34 295 -29 148 551 423 108 633Net financial items -144 639 -77 912Tax costs -49 17Profit/loss for the year 406 736 30 737In 2022, the Seismic segment had an impairment of MNOK 16, the Subsea/Offshore Wind segment had a reversal of previous impairment of MNOK 36.6, and the Supply segment had a reversal of previous impairment of MNOK 188.7. In 2021, the Seismic segment had an impairment of MNOK 48.6, and the Subsea/ Offshore Wind segment had a reversal of previous impairment of MNOK -192.4 *) For shares in joint ventures, the figures in the table are included with the share corresponding to the Group\u2019s ownership interest. In this note gross values are used in the result, and equity method are used for shares in joint ventures. No changes in other principles. Refer to Note 7. (NOK thousands) Subsea / Offshore Seismic Wind Supply Other Consolidated Operating segments 2022 2021 2022 2021 2022 2021 2022 2021 2022 2021Segment assets 14 686 53 128 363 751 303 408 856 357 696 649 230 010 197 013 1 464 804 1 250 198Proportion of assets in JV* 0 0 279 687 296 000 0 0 0 0 279 687 296 000Unallocated assets (cash) 0 0 0 0 0 0 0 0 655 653 330 401Assets held for sale 80 695 63 217 0 959 242 0 0 0 0 80 695 1 022 459Total consolidated assets 95 381 116 346 363 751 303 408 856 357 696 649 220 010 197 013 2 201 153 2 603 058Assets incl. share of JV* 1 558 95 381 116 346 643 438 650 856 357 696 649 220 010 197 013 2 480 839 2 899 058Segment current liabilities (excl. mortgage debt) -2 267 -526 -18 357 -23 170 -14 509 -31 244 -182 779 -151 828 -217 911 -206 769Proportion of debts from JV* 0 0 -141 805 -148 475 0 0 0 0 -141 805 -148 475Segment mortgage debt and other -1 080 -1 182long-term liabilities -291 845 -292 646 -201 219 -991 590 -644 941 -686 278 57 294 788 463 711051Total liabilities incl. share of JV* -1 163 -1 440 -1 537-294 112 -293 172 -361 380 235 -659 449 -717 522 -125 485 636 634 427294Investments in non-current assets (excl. periodic maintenance) 1 416 0 29 235 8 261 14 615 43 360 0 0 45 266 51 621Gross sales of non-current assets 0 0 944 093 0 0 21 808 0 0 944 093 21 808*) For shares in joint ventures, the amounts in the table are included in proportions equal to the Group\u2019s ownership interest. The sale of Viking Neptun in November 2023 significantly reduced the debt in the Subsea/Offshore Wind segment. Information on large customers The majority of the Group\u2019s income is earned from a small number of large customers. The table below shows the total operating income from all customers representing more than 10% of the Group\u2019s operating income. The amounts are distributed by segments. Operating segments Seismic Subsea / Offshore Wind Supply 2022 2021 2022 2021 2022 2021 Customer 1 89 764 86 824 Customer 2 193 333 133 334 Customer 3 67 090 Customer 4 71 341 93 415 Customer 5 207 181 164 131 Total operating income large customers 0 0 296 945 318 045 264 674 226 748 Secondary segments are not reported. The Seismic, Subsea/Offshore Wind and Supply business segments are the only groups reported internally. Although the vessels in the Seismic and Subsea/Offshore Wind segments operate in various parts of the world, this is mainly a consequence of the customer\u2019s preferred areas of operation, not necessarily a decision on a geographical focus area. Presenting geographical areas for these segments is considered misleading. For the Supply segment, all operations in 2021 and 2022 are in just one geographical area defined as Europe. Secondary segmentations is therefore omitted. Refer to Note 22 for maturity for future lease income. NOTE 5 \u2013 OTHER INCOME (NOK thousands) 2022 2021 Dividend from \u00abDen Norske Krigsforsikring \u00ab 0 4 025 Reversal of previous write-downs related to receivables 14 102 12 350 from JVs Gain/loss on the sale of vessels 269 723 1 942 Other income 283 826 18 317 Other income of MNOK 283.8 (18.3) is related to the reversal of previous impairments on repayments receivedagainst the claim against Oceanic Seismic Vessels AS MNOK 14.1; see note 13. MNOK 269.7 is associatedwith the sale of Viking Neptun in November 2022. Auditor: (NOK thousands) 2022 2021Statutory audit 1 772 1 743Other financial audit 0 192Tax advice 48 0Other audit services 316 0Total audit 2 136 1 935The auditor\u2019s fees are presented excluding VAT. NOTE 6 \u2013 OTHER OPERATING EXPENSES (NOK thousands) 2022 2021 Technical operation of vessels 89 742 82 940 Insurance 13 774 13 107 Communication costs 6 726 5 734 Administrative costs 11 668 34 233 Other operating expenses 121 910 136 014 Technical operation of vessels includes ongoing operating costs and maintenance of the Group\u2019s vessels;classification costs are capitalised and depreciated until the next classification and so do not appear as aseparate operating cost. Administration costs consist mainly of travel, consultancy, legal, audit, leasing and other office costs. NOTE 7 \u2013 INVESTMENTS IN JOINT VENTURES AND ASSOCIATED COMPANIESWITH MINORITY INTERESTS (NOK thousands) The Eidesvik Offshore ASA Group has the following investments in joint ventures: Entity Country Industry Ownership/ Book value Share of Translation Dividends Addition / Assets Book valuevoting 31.12.2021 profit 2022 differences disposal held for 31.12.2022share sale Eidesvik Seven Norway Shipping 50,0 % AS 132 157 -10 718 0 0 0 0 121 439Eidesvik Seven Norway Shipping 50,0 % Chartering AS 15 368 1 075 0 0 0 0 16 443Total 147 526 -9 644 0 0 0 0 137 882Entity Country Industry Ownership/ Book value Share of Translation Dividends Addition / Assets Book valuevoting 31.12.2020 profit 2021 differences disposal held for 31.12.2021share sale Eidesvik Seven Norway Shipping 50,0 % AS 140 843 -8 686 0 0 0 0 132 157Eidesvik Seven Norway Shipping 50,0 % Chartering AS 13 473 1 895 0 0 0 0 15 368Total 154 316 -6 790 0 0 0 0 147 525Eidesvik Seven AS and Eidesvik Seven Chartering AS are classified as joint ventures, as Subsea 7 Norge AS and Eidesvik each own 50% of the shares in the company. Eidesvik Shipping AS is guarantor for 50% of the debt in Eidesvik Seven AS. Summary of financial information for the joint ventures: 2022: Entity Assets Non-current Current Of this Equity Liabilities Long-term Short-term assets assets bank Eidesvik Seven 504 647 485 355 19 292 9 341 471 242 877 261 770 255 589 6 182 AS Eidesvik Seven 54 726 0 54 726 31 323 32 886 21 839 0 21 839 Chartering AS Entity Revenue EBITDA Depr. / Financial Financial Net Taxes Profit/loss Group impairment income expenses financial for the year share items Eidesvik Seven 31 290 29 801 37 851 87 13 473 -13 387 0 -21 437 AS -10 718 Eidesvik Seven 107 790 2 546 0 394 18 376 650 2 272 Chartering AS 1 075 -9 644 2021: Entity Assets Non-current Current Of this Equity Liabilities Long-term Short-term assets assets bank Eidesvik Seven 533 325 518 708 14 616 182 264 314 269 011 266 918 2 093 AS Eidesvik Seven 58 675 0 58 675 29 906 30 737 27 938 0 27 938 Chartering AS Entity Revenue EBITDA Depr. / Financial Financial Net Taxes Profit/loss Group impairment income expenses financial for the year share items Eidesvik Seven 32 393 31 138 37 346 0 11 164 -11 164 0 -17 371 AS -8 686 Eidesvik Seven 103 848 3 769 0 22 1 22 0 3 791 Chartering AS 1 895 -6 790 Associated companies The group has the following investments in these individual associated companies: 2022: Entity Country Ownership/ voting Book value Result portionshare 31.12.2021 Norway 10,37 % 0 0Simsea Holding AS Norway 22,59 % 3 118 523Bleivik Eiendom AS Ghana 49,00 % 0 0Eidesvik Ghana Ltd. 3 118 5232021: Entity Country Ownership/ voting Book value Result portionshare 31.12.2021 Norway 10,37 % 0 0Simsea Holding AS Norway 22,59 % 2 595 1 940Bleivik Eiendom AS Ghana 49,00 % 0 -1 065Eidesvik Ghana Ltd. 2 595 874Refer to note 21, other shares. Subsidiaries with substantial minority interests The Group has two subsidiaries where there are substantial minority interests. Of companies with minorityinterests, only the companies below are considered material. 2022: Entity Country Minority interests (%) Minority share of profit/loss Norway 25,25 % 54 738 Eidesvik Neptun AS Norway 25,25 % 5 942 Eidesvik Neptun II AS 60 680 2021: Entity Country Minority interests (%) Minority share of profit/loss Norway 19,89 % -1 897 Eidesvik Supply AS * Norway 25,25 % 48 673 Eidesvik Neptun AS Norway 25,25 % -292 Eidesvik Neptun II AS 46 482 * The Group has in September 2021 bought out the the minority owners, and the minority share of profit/loss isper August 31, 2021. NOTE 8 \u2013 NET FINANCIAL ITEMS (NOK thousands) 2022 2021Interest income 10 831 10 502Other financial income 3 590 0Total financial income 14 421 10 502Interest expense on loans -86 166 -71 529Other interest expenses -277 -1 129Interest cost \u2013 lease liabilities -3 783 -2 885Reversal of previous write-downs of receivables 7 247 7 366Other financial expenses -10 865 -910Total financial expenses -93 844 -69 087Realised currency gains (losses) -94 411 -17 667Change in market value on interest instruments 51 142 18 282Unrealised currency gains (losses) \u2013 related to other -21 584 -14 222items Value change on currency futures 26ecognized at fair -363 -5 721value via profit/loss Total currency gains -65 216 -19 328Net financial items -144 639 -77 913Summary of financial information for subsidiaries with substantial minority interests: 2022: Entity Assets Non-current Current Of which Equity Liabilities Long-term Short-termassets assets bank 298 519 0 298 519 29 149 250 136 48 383 0 48 383Eidesvik Neptun AS 83 693 0 83 693 51 715 88 83 605 0 83 605Eidesvik Neptun II AS Entity Revenue EBITDA Depr. / Financial Financial Net financial Taxes Profit/loss forimpairment income expenses items the year395 021 368 005 0 1 096 152 340 -151 244 0 216 761Eidesvik Neptun AS 157 396 2 071 0 545 57 488 0 2 558Eidesvik Neptun II AS 2021: Entity Assets Non-current Current Of which Equity Liabilities Long-term Short-termassets assets bank 196 773 170 667 26 105 3 442 1 207 195 566 132 329 63 236Eidesvik Supply AS 1 016 679 944 775 71 904 1 345 33 473 983 206 942 107 41 099Eidesvik Neptun AS 76 003 0 76 003 34 788 -24 207 100 209 0 100 209Eidesvik Neptun II AS Entity Revenue EBITDA Depr. / Financial Financial Net financial Taxes Profit/loss forimpairment income expenses items the year41 047 7 564 14 781 27 12 931 -12 904 0 -20 121Eidesvik Supply AS 103 727 86 240 -165 581 26 59 109 -59 082 0 192 739Eidesvik Neptun AS 128 095 -4 942 0 3 476 382 3 094 0 -1 848Eidesvik Neptun II AS NOTE 9 \u2013 TAX 2022 (NOK thousands) 2021 Tax cost Norway and abroad 49 -16 Tax costs 49 -16 Fixed asset reserve 48 067 20 585 Profit and loss account -15 483 -19 638 Pension liabilities 417 282 Loss carried forward -840 253 -464 433 * Total temporary differences -807 251 -463 332 Recognised deferred tax assets 0 0 Applied tax rate 22 % 22 % Deferred tax assets are not recognised in the balance sheet due to uncertainty as to when such assets may berealised. Tax payable Tax payable for the year subject to the tonnage tax regime 0 0 Other corporation tax payable, Norway and abroad 0 -16 Total tax payable 49 -16 Explanation of taxes in the income statement: Profit/loss before taxes 406 784 30 720 Calculated 22%/22% tax 89 493 6 758 Tax effect of: Permanent differences/ results subject to the tonnage tax/ difference tax rate abroad -89 444 -6 775 Calculated tax for the year 49 -16 The Group\u2019s effective tax rate 0 % 0 % * Temporary differences are estimated based on preliminary tax assessments. The tonnage tax, which is determined based on the vessel`s net weight, is booked as other operating expenses.NOTE 10 \u2013 EARNINGS PER SHARE (NOK thousands) 2022 2021 Profit/loss for the year attributable to the majority 346 056 -15 746 shareholders Number of issued ordinary shares (thousands) 62 150 62 150 Number of issued ordinary shares (thousands) 62 150 62 150 Earnings per share 5,57 -0,25 Diluted earnings per share 5,57 -0,25 No dividends were paid in 2022, and the Board has not proposed any payment of dividends in 2023.Realised currency loss in 2022 is mainly related to the delivery of Viking Neptun and the correspondingrepayment of debt. NOTE 11 \u2013 PAYROLL EXPENSES AND NUMBER OF EMPLOYEES (NOK thousands) 2022 2021 Payroll after net pay refund 181 989 161 021 Social security costs 49 494 44 429 Defined benefit pension (see Note 18) 275 268 Contribution pension 12 402 13 849 Hired personnel 29 273 23 435 Other personnel costs 28 992 30 070 Total personnel costs 302 425 273 072 Salaries and payroll tax are shown after deduction for the reimbursement scheme for seafarers. The average number of full-time equivalents was: 429 426 Number of employees at end of year: 428 424 In 2022, NOK 41,581 thousand (NOK 57,201 thousand in 2021) was received in connection with thereimbursement scheme for Norwegian seafarers. In 2022, NOK 3,013 thousand (NOK 2,577 thousand in 2021) was received from Stiftelsen Norsk MaritimKompetanse. All received refunds are presented as a reduction of payroll expenses. NOTE 12 \u2013 TANGIBLE FIXED ASSETS 2022: Total Operating other Periodic Port equipmenfixed maintenaTotal New build (NOK thousands) Property facilities t assets Vessels nce vessels contracts Total (*)Acquisition cost 1 January 2022 37 414 3 594 42 559 83 567 5 890 541 359 633 6 250 174 0 6 333 741Addition 0 0 372 372 45 266 56 183 101 448 0 101 821Disposal 0 0 -2 700 -2 700 -1 288 357 -61 268 -1 349 625 0 -1 352 32531 December 2022 37 414 3 594 40 231 81 239 4 647 450 354 548 5 001 998 0 5 083 236Accumulated depreciation and impairments 1 January 2022 19 624 3 494 39 926 63 044 4 034 132 285 076 4 319 208 0 4 382 251Depreciation in the year 180 0 93 273 87 156 49 978 137 134 0 137 407Impairment for the year 0 0 0 0 16 053 0 16 053 0 16 053Reversal of previous 0 0 0 0 -225 290 0 -225 290 0 -225 290impairment for the year Disposals 0 0 -625 -625 -344 232 -44 350 -388 582 0 -389 20831 December 2022 19 804 3 494 39 393 62 692 3 567 818 290 704 3 858 522 0 3 921 214Book value 17 610 100 837 18 547 1 079 632 63 844 1 143 475 0 1 162 0232021: Total other Periodic Port Operating fixed maintenanTotal New build (NOK thousands) Property facilities equipment assets Vessels ce vessels contracts Total (*)Acquisition cost 1 January 2021 37 414 3 717 42 529 83 660 5 989 257 352 385 6 341 641 0 6 425 301Addition 0 0 31 31 51 621 36 899 88 521 0 88 551Disposal 0 -123 0 -123 -150 336 -29 651 -179 988 0 -180 11131 December 2021 37 414 3 594 42 559 83 567 5 890 541 359 633 6 250 174 0 6 333 741Accumulated depreciation and impairments 1 January 2021 19 443 3 494 39 277 62 215 4 170 167 248 592 4 418 759 0 4 480 974Depreciation in the year 180 0 648 829 140 026 62 399 202 425 0 203 254Impairment for the year 0 0 0 0 76 894 0 76 894 0 76 894Reversal of previous impairment for the year -220 6910 0 0 0 -220 691 0 -220 691 0 Disposals 0 0 0 0 -132 265 -25 915 -158 180 0 -158 18031 December 2021 19 624 3 494 39 926 63 044 4 034 132 285 076 4 319 208 0 4 382 251Book value 17 790 100 2 633 20 523 1 856 410 74 557 1 930 965 0 1 951 490(*) right-of-use assets TNOK 55 489 and depreciation TNOK 5 563 is not included in the table above. Refer to note 22 IFRS 16, Lease. Please refer to Note 20 for information on mortgaged assets. Refer to Note 2, point 2.5, for details of depreciation periods for vessels and lumping together of components. The Company has in November 2022 sold the Subsea/Wind vessel Viking Neptun, the sale generated a gain of MNOK 269.7. The PSV Viking Athene was sold in April 2021, and sale generated a gain of MNOK 1.9. All four seismic vessels are classified as held-for-sale. In determining whether the decisions of sale of the vessels are assessed as discontinued operations or asset held for sale, the Group have concluded that the seismic operations is not a major line of business. The assessment made is based on the fact that the seismic operation\u2019s representative share of the Group\u2019s total revenue is not viewed as significant (4% for 2022). Consistently discontinued operations is not applicable, and the vessels are classified as asset held for sale in accordance with IFRS 5. All four seismic vessels are classified as held-for-sale and are included in the table above. Refer to note 20 for Liabilities related to Assets held for sale. Property/port facilities include plots/land valued at MNOK 17.7 (MNOK 17.9) which are not depreciated. Impairment tests are performed on individual cash generating entities (vessels) when indications of impairment or reversal of previous impairments are identified. Due to observed indicators, such as improved market conditions and increase in market interest rates, the vessels\u2019 book values have been tested for impairment and reversal of previous impairments at all quarter end during 2022. Based on these tests, Eidesvik recognized a net reversal of impairment of MNOK 209.2 during 2022. Of this, MNOK 36.6 was related to reversal of impairment of one subsea/offshore wind vessel, and MNOK 188.6 is related to reversal of impairments of five PSVs. In addition, one seismic vessel was impaired with MNOK 16.0. The Group monitors the presence of impairment indicators during the periodical financial reporting, and thus may update its assessments of impairments to reflect further changes in the underlying market assumptions. Broker estimates are not used as an approximate sales value on the balance sheet date as there are few observed sales of the type of vessels the Company owns. For the assessment of value in use, expected future cash flows are used, discounted to net present value using a discount rate before taxes reflecting the market-based time value of money, as well as risk specific to the asset. The discount rate is derived from a weighted average cost of capital (WACC) for market players. The average WACC used in the calculations per December 31, 2022, is 9.2%. This takes into account that the Group\u2019s business is mainly within the tonnage tax system, and the calculated WACC is assumed to apply both before and after tax. The capital structure used in the weighted average cost of capital is based on an assumed capital structure in comparable companies with similar assets in a normal situation. Equity cost is based on the expected required rate of return for the Group\u2019s investors. Debt costs are based on the risk-free interest rate, plus a premium equivalent to the difference between risk-free rate and market rates. The beta factors are evaluated quarterly when deemed necessary, and otherwise at least annually, on the basis of publicly availablemarket data for identified comparable companies and the main index on the Oslo Stock Exchange. Future cash flows are estimated on the basis of estimated remaining useful life, which may exceed 5 years.The cash flows used in the impairment tests for 2022 are based on and reconciled against the financial forecastswhich the Group uses for internal planning purposes as well as present to its lenders. Important elements inestimated cash flows are the long-term inflation rate, the contract situation (order backlog), the utilization rate,ordinary operating expenses, periodic maintenance (docking), charter rates, and exchange rates. In 2022, the Seismic segment had an impairment charge of MNOK 16.0 (recoverable amount MNOK 106.7), theSubsea/Offshore Wind segment had a reversal impairment of MNOK 36.6 (MNOK 443.4), and the Supplysegment had a reversal of MNOK 188.6 (MNOK 989.0). In 2021, net reversal of previous impairments of MNOK143.8 were charged. There is significant uncertainty associated with the assumptions for the value in use calculations. Thecalculation is based on market prospects which are weak in all three segments in the short and medium term.On a general view, it is considered that the seismic survey market will see a few years after the balance sheetdate where layups or reduced rates must be expected for the vessels that are not on fixed contracts. The sameconsiderations apply to the subsea and supply markets. The expected future earnings used in the calculations are implicitly adjusted for utilisation rate adapted to thisgeneral market view. Therefore, sensitivity calculations have also been performed for the value in usecalculations and the impaired amounts, in order to highlight the uncertainty in the calculations. If the utilisation rate for the entire fleet are assumed to be reduced by 5 percentage points on uncontractedincome, the impairment would not be affected. If the WACC assumed had increased to 10.5%, the impairmentcharge would not be affected. Climate-related matters The Group constantly monitors the latest regulatory changes in relation to climate-related matters. The Group has already invested in hybrid battery solutions for the majority of its fleet. For further green fuelsand technologies to reduce CO2 emission for the fleet the Group continues to investigate this together with ourcustomers, suppliers and also follow up on possibilities for public funding. Forecast for the vessels includegreen investments to the extent relevant and are therefore included in assessment of impairment and reversalof impairment. The investments done by the Group so far with focus on reduction in CO2 has historicallycontributed to securing long term contracts for the vessels in particular in periods where there has been excesscapacity in the market. Higher fuel price due to CO2 levels or the cost of green fuels will for the most part beforwarded to the customer, hence there is limited impact in the Group\u2019s OPEX short term. For the Group\u2019s long term sustainability goals of 50% reduction in CO2 in 2030, and climate neutral in 2050 tobe met, both newbuild programs and new technology has to be implemented and yield appropriate returns. Longterm investments are evaluated on this basis. In the current market, with the existing fleet in the industry, current new build plans and commercial maturityof new emission technology there is no impact on residual values or useful life of the Group\u2019s existing vessels.All the Group\u2019s vessels comply with current environmental requirements. Reference is also made to Note 2.27d). NOTE 13 \u2013 OTHER LONG-TERM RECEIVABLES (NOK thousands) 31.12.2022 31.12.2021 Long-term receivables, OSEV 39 769 51 178 Total other long-term receivables 39 769 51 178 Long-term receivables, OSEV, are related to the company Oceanic Seismic Vessels AS (subsidiary of GlobalSeismic Shipping AS, \u201cGSS\u201d), regarding the reorganisation of shares in the company and the establishment ofGSS (sold in January 2020), as well as the receipt of receivables against the same companies from CGG aspart-settlement for the amendment in the contract for Viking Vanquish in 2017. The nominal value as atDecember 31, 2022, was MUSD 8.45 (MUSD 12.60 as at December 31, 2021), but the value recognised in theaccounts is substantially lower due to provisions for counterparty risk with the company\u2019s charterer. In 2022repayments were paid in accordance with the agreed plan, and write-downs on the payments received werereversed (see Note 5 and Note 8). NOTE 14 \u2013 ACCOUNTS RECEIVABLE (NOK thousands) 31.12.2022 31.12.2021 Accounts receivable 127 269 125 302 Accounts receivable related parties/join ventures 16 019 12 485 Provision for losses -1 529-6 845Total accounts receivable 141 759 130 942 Of overdue accounts receivable related to other than related parties, the expected loss rate is as follows:(NOK thousands) 31.12.2022 31.12.2021 0-3 months0 % 1 % 3-6 months0 % 0 % 6 months <47 % 58 % Recorded value of the Group\u2019s accounts receivable per currency: EUR 16 447 22 447 USD 15 710 27 569 GBP 0 47 NOK 109 601 80 879 Total accounts receivable 141 759 130 942 Net change in provisions for impairment of accounts receivable: 31.12.2022 31.12.2021 At January 1 6 845 1 400 Provision for impairment of receivables -6 8455 445 Accounts receivable recorded as loss during the year -1 5290 At December 31 -1 5296 845 NOTE 15 \u2013 OTHER CURRENT ASSETS (NOK thousands) 31.12.2022 31.12.2021 Inventories (bunkers and lube oil) 17 756 21 756 Other shares 34 34 VAT receivable 2 534 10 068 Insurance settlement receivable 20 983 5 363 Net payroll 13 427 14 697 Prepaid expenses 16 011 16 345 Security for guarantee 10 000 0 Total other current assets 80 744 68 265 Prepaid expenses include expenses for pre-paid insurance, refund of crew costs and unbilled expenses.NOTE 16 - CASH AND CASH EQUIVALENTSOf total cash and cash equivalents at December 31, 2022, of MNOK 655.7 (MNOK 330.4 at December 31, 2021),where MNOK 7.2 is restricted tax funds and MNOK 62.7 is funding restricted for use towards the ShipFCammonia project (EU support). NOTE 17 - SHARE CAPITAL AND PREMIUM Changes in paid share capital: (NOK thousands) Number of shares Share capital 2022 2021 2022 2021 Ordinary shares Opening balance 62 150 62 150 3 108 3 108 Share issue 0 0 0 0 At December 31 62 150 62 150 3 108 3 108 Nominal value per share in Eidesvik Offshore ASA is NOK 0.05 (5 \u00f8re). The 20 largest shareholders in Eidesvik Offshore ASA as at December 31, 2022: Number Ownership Shareholder Country of shares share EIDESVIK INVEST AS NORWAY 37 200 000 59,86 % JAKOB HATTELAND HOLDING AS NORWAY 3 061 741 4,93 % HELG\u00d8 FORVALTNING NORWAY 1 446 711 2,33 % VINGTOR INVEST AS NORWAY 1 434 719 2,31 % STANGELAND HOLDING AS NORWAY 1 096 401 1,76 % BERGTOR INVESTERING AS NORWAY 1 096 401 1,76 % DUNVOLD INVEST AS NORWAY 837 000 1,35 % SKANDINAVISKA ENSKILDA BANKEN AB SWEDEN 793 808 1,28 % SILBERG, JOHNNY NORWAY 600 000 0,97 % HELG\u00d8 INVEST AS NORWAY 500 000 0,80 % HELLAND AS NORWAY 474 585 0,76 % TVEIT\u00c5, EINAR KRISTIAN NORWAY 444 000 0,71 % CAIANO SHIP AS NORWAY 372 575 0,60 % CALIFORNIA INVEST AS NORWAY 358 000 0,58 % BJ\u00d8RKEHAGEN AS NORWAY 300 000 0,48 % OLAVS HOLDING AS NORWAY 292 338 0,47 % SMEDASUNDET AS NORWAY 269 787 0,43 % DNB BANK ASA SWEDEN 257 985 0,42 % LGJ INVEST AS NORWAY 250 000 0,40 % HANNESTAD, KARL CHRISTIAN NORWAY 230 950 0,37 % Others 10 832 999 17,43 % Total 62 150 000 100,00 % The Company had 2,291 shareholders as at December 31, 2022, and a foreign owner share of 2.91%. See alsoNote 24. NOTE 18 - PENSIONS AND OTHER LONG-TERM EMPLOYEE BENEFITS The Company is required to have an occupational pension scheme under the Mandatory Occupational PensionsAct. The Company\u2019s pension schemes satisfy the requirements of this Act. Defined benefit pension This pension scheme was replaced by a defined contribution scheme for all employees, except for former CEO.The estimated payment into the defined benefit scheme in 2023 is NOK 275 thousand. Capitalised liability is determined as follows: (NOK thousands) 2022 2021 Net present value of accrued defined benefit pension liabilities in fund based schemes 3 899 3 520 Fair value of pension funds -4 317 -3 802 Net capitalised pension liability/fund December 31 -417 -282 Changes in defined benefit pension liability during the year: 2022 2021 Pension liability January 1 3 519 3 256 Net present value of pension contribution of the year 248 240 Interest expenses 71 58 Transfer/acquisition/moving members/new contracts 0 0 Payroll tax on employer\u2019s contribution -63 -104 Actuarial loss/(gain) 0 0 Benefits paid 124 69 Pension liability December 31 3 899 3 519 Change in fair value of pension funds: 2022 2021 Pension funds January 1 3 801 3 020 Expected return on pension funds 44 32 Transfer/acquisition/moving members/new contracts 0 0 Actuarial (gains)/losses 22 14 Payroll tax on employer\u2019s contribution -63 -104 Employer\u2019s contribution 513 839 Benefits paid 0 0 Pension funds December 31 4 317 3 802 Total cost included in net profit: 2022 2021 Cost of pension contribution for the period 214 207 Net changes in plan, scaling down, settlement 0 0 Interest expenses 4 4 Expected return on pension funds -10 -3 Administrative costs 36 29 Payroll tax on pension costs 31 30 Total, included in payroll expenses (Note 11) 275 268 Estimate deviations due to changes in actuarial assumptions included in other income and costs (OCI): Estimate deviations due to changes in actuarial assumptions included in other comprehensive income (OCI): 2022 2021 Changes in the discount rate -527 -108 Changes in other financial assumptions DBO -27 -53 Changes in other DBO 651 177 Changes in other - pension funds -46 -7 Funds and interest guarantees 51 46 Estimate deviation losses/(gains) against OCI* 102 55 *Estimate deviation losses/(gains) against OCI was in 2021 booked as a loss. Corrected in 2022 and thereforenot reconcilable to the accounts.The pension funds are placed in various investments through external insurance companies. They manage alltransactions for the pension schemes. Breakdown into investment categories: 2022 2021 Shares 10 % 10 % Bonds 53 % 46 % Real estate 11 % 14 % Money market 4 % 11 % Other 22 % 20 % To calculate pension costs and net pension liabilities, the following assumptions are used: 2022 2021 Discount rate 3,00 % 1,90 % Return on pension assets 3,00 % 1,90 % Wage growth 3,50 % 2,75 % Pension adjustment 1,50 % 0,00 % G adjustment 3,25 % 2,50 % The discount rate is based on interest on covered bonds (OMF), whereas this was previously based on thegovernment bond rate. Mortality table K2013 BE is used as a basis for mortality. Sensitivity of the calculation of pension liability to changes in the assumptions: The table below shows an estimate of potential effects of a change in certain assumptions for defined benefitpension schemes in Norway. Change in amount Discount rate Annual wage growth 1,00 % -1,00 %1,00 % -1,00 %Total Pension liability PBO 3 388 4 516 3 900 3 900 Pension cost for period SCC 231 290 258 258 Active members Pension liability PBO 3 388 4 516 3 900 3 900 Pension cost for period SCC 231 290 258 258 Pensioners Pension liability PBO - - - - Risk assessment Through the defined benefit schemes, the Group is affected by a number of risks arising from uncertainty inassumptions and future developments. The key risks are described here: Life expectancy The Group has undertaken to pay pensions to the employee for the remainder of their lives. So an increase in life expectancy among the members will lead to an increase in the liability for the Company. Return risk The Group is affected by a reduction in the actual return on the pension funds. This will lead to an increase inthe liability for the Company, as the return on the funds will not be sufficient to meet the obligation. Inflation and wage increase risk The Group\u2019s pension liability carries risk associated with both inflation and wage growth, although wagedevelopment is closely linked to inflation. Higher inflation and wage growth than assumed in the pensionestimates will lead to a larger liability for the Group. NOTE 19 - OTHER LIABILITIES (NOK thousands) 31.12.2022 31.12.2021 Public taxes and charges 27 501 35 474 Salaries and holiday pay 35 280 33 639 Accrued expenses 57 524 51 890 Prepaid costs SHIP-FC project 57 401 19 925 Total other current liabilities 177 707 140 929 Accrued expenses are mainly related to provisions for accrued operating costs and docking/averageadjustment. In 2020 Eidesvik entered into the five year European joint development project ShipFC where Viking Energywill be retrofitted with a 2 MW fuel cell running on green ammonia. The project has received funding from EUto cover a main part of the project costs. NOTE 20 - LONG-TERM LIABILITIES Book value (NOK thousands) 31.12.2022 31.12.2021Mortgage (NOK) 827 958 884 165Mortgage (USD) 311 518 1 091 947Other loan 1 099 1 056Capitalised establishment costs -1 471 -5 599Total interest-bearing long-term liabilities 1 139 103 1 971 570Total long-term liabilities 1 139 103 1 971 570Short-term portion of long-term liabilities -983 569 -86 705Liabilities related to Assets held for sale -112 365 -840 666Total long-term liabilities excl. first year\u2019s repayment 43 169 1 044 199Short-term loans First year\u2019s repayment of long-term liabilities 983 569 86 705Accrued interest 5 965 7 674Total 989 534 94 379Liabilities related to Assets held for sale 112 365 840 666Total 112 365 840 666Book value of liabilities in currency NOK 827 585 879 623USD 311 518 1 091 947Total 1 139 103 1 971 570Amortisation profile on long-term liabilities at December 31, 2022*: Pre refinancing in Q1 2023 Post refinancing in Q1 2023 2023 1 095 934 452 500 2024 43 542 85 000 2025 0 85 000 2026 0 516 976 Total repayments 1 139 476 1 139 476 Amortisation profile on long-term liabilities at December 31, 2021*: 2022 128 364 2023 1 676 479 2024 80 035 2025 36 494 2026 36 494 Later 18 247 Total repayments 1 976 112 *Liabilities related to Assets held for sale will become due and payable at the time of completion of the sale. The Company has in Q4 2022 sold the Subsea/Offshore Wind vessel Viking Neptun, and the long-term loan is repaid. All four seismic vessels are classified as held-for-sale, and the corresponding debt is classified as Liabilities related to assets held for sale. Refer to note 12 for Assets held for sale. Of total liabilities, MNOK 1,139.5 are secured against mortgages in vessels recorded at MNOK 1,143.5. For an assessment of the fair value of long-term liabilities, see Notes 3 and 23. Interest-Interest-Current Non-current Interest bearing Assets held bearing Change in liabilities lease lease Totalexpenses short-term for sale* long-term liabilities liabilities debt debt At January 1, 2022 94 379 3 256 840 666 1 044 199 51 147 2 033 646Repayment of debt -89 797 -4 890 (876 124) 0 0 -970 811Interest paid -83 335 -7 674 0 0 0 0 -91 009Cash flow from financing -83 335 -97 472 -4 890 -876 124 0 0 -1 061 821Exchange rate effects 36 703 0 96 056 0 0 132 759Capitalisation costs 0 0 0 4 127 0 4 127Interest accrued but not paid 5 965 0 0 5 965Other changes 949 958 5 851 51 768 -1 005 158 2 827 5 246At December 31, 2022 989 534 4 217 112 365 43 168 53 973 1 203 258Interest-Current Interest-Non-current Interest bearing Assets held Change in liabilities lease bearing long-lease Totalexpenses short-term for sale* liabilities term debt liabilities debt At January 1, 2021 166 596 3 256 0 2 193 798 54 862 2 418 512Repayment of debt -420 514 -3 714 0 0 0 --424 228Interest paid -71 291 -8 871 0 0 0 0 -80 163Cash flow from financing -71 291 -429 386 -3 714 0 0 0 --504 392Exchange rate effects -6 635 0 0 43 611 0 36 976Capitalisation costs 0 0 0 3 557 0 3 557Interest accrued but not paid 7 674 0 0 0 0 7 674Other changes 356 129 3 714 840 666 -1 196 767 -3 714 28At December 31, 2021 94 379 3 256 840 666 1 044 199 51 147 2 033 647*Liabilities related to Assets Held for sale Covenants The majority of the Company\u2019s fleet is financed with mortgage loans, mainly fleet loans. The most important financial covenants at December 31, 2022, were: \u2022 Free liquidity of MNOK 70. \u2022 Positive working capital (current assets less current liabilities, excluding current portion of long-term debt). \u2022 Loan to value: Suspended until the end of the refinancing period. \u2022 Limitations on investments and dividends. There are also clauses related to change of control concerning the Eidesvik families. No companies in the Eidesvik Offshore Group were in breach of any covenants at December 31, 2022, or during 2022. The new refinancing On February 22, 2023, Eidesvik announced that it had agreed on a term sheet with its financial institutions for refinancing of its debt. On March 28, 2023, the final agreements and documentation were in place and the new terms for the Group\u2019s financing became effective. The new debt will mature on February 28, 2026, and hence reclassify the majority of the outstanding debt from current liabilities to non-current liabilities. Summary of the refinancing Amortization: \u2022 Facility prepayment of NOK 410 million was made on the date of signing and final documentation. \u2022 In 2023, scheduled amortization amounts to NOK 42.5 million in total for the Group. \u2022 In 2024 and 2025, scheduled amortization amounts to NOK 85.0 million in total for the Group. Cash Sweep: \u2022 No cash sweep mechanisms Financial covenants: \u2022 Minimum free liquidity of NOK 60 million. \u2022 Positive working capital (current assets less current liabilities, excluding instalments and current portion of long term debt). \u2022 Leverage ratio of 5.0 or lower in 2023, 4.0 in 2024 and 3.5 in 2025. \u2022 Equity ratio of 35% for 2023, and 40% thereafter. NOTE 21 - OTHER SHARES (NOK thousands) Shares Entity Country Industry Ownership/voting Book value Book value share 31.12.2022 31.12.2021 Training Simsea Holding AS Norway 10,4 % 0 0 Real estate Bleivik Eiendom AS Norway 22,6 % 3 118 2 595 Shipping Eidesvik Ghana Ltd. Ghana 49,0 % 0 0 Total 3 118 2 595 Simsea is a simulation centre for training nautical personnel. Bleivik Eiendom AS leases out properties tocompanies conducting safety training for maritime personnel. Simsea Holding AS was written down to NOK 0 because of the bankruptcy of Simsea AS in the winter of 2017.Eidesvik Ghana Ltd has been written down to NOK 0 based on the probability of getting the funds out of Ghana.The investments are valued by the equity method. Refer to note 7. NOTE 22 - LEASES (NOK thousands) Right-of-use assets IFRS 16 \u201cLeases\u201d sets out the principles for the recognition, measurement and disclosure requirements for bothparties to a lease contract. IFRS 16 is effective for reporting periods beginning on or after January 1, 2019.The Group adopted IFRS 16 on the effective date using a modified retrospective approach and will not restatecomparative information. The Group is both a lessor, as it charters vessels to customers, and a lessee. The new requirements result insignificant changes to the accounting model applied by lessees and will primarily affect the Group\u2019s accountingfor the operating leases as a lessee. The accounting for lessors will not significantly change. To determine whether a contract contains a lease, it is considered whether the contract conveys the right tocontrol the use of an identified asset. This is for the Group considered to only be the case for office leases andvehicles. The Group has long term lease agreements on office premises and vehicles that will be affected byimplementation of IFRS 16. For the Group, these lease commitments will result in the recognition of an asset(right-of-use) and a lease liability. The rental period is calculated based on the duration of the agreement plusany option periods if these with reasonable certainty will be exercised. Joint expenses etc. are not recognisedin the lease liability for the rental contracts. As permitted by IFRS 16, the Group chose to measure the right-of-use asset equal to the amount of the liabilityat the implementation date. The future payments under each lease arrangement have been discounted usingthe incremental borrowing rate applicable to the leased assets in order to calculate the lease liability recognizedon the date of adoption. The Group has used the following practical expedients when applying IFRS 16 to leases: \u2022 Applied the exemption not to recognise right-of-use assets and liabilities for leases with less than 12months of lease term \u2022 Excluded initial direct costs from measuring the right-of-use assets at the date of initial application \u2022 The liabilities were measured at the present value of the remaining lease payments, discounted usingthe lessee\u2019s incremental borrowing rate as of 1 January 2019. The weighted average lessee\u2019sincremental borrowing rate applied to the lease liabilities on January 1, 2019 was 5.0%.Right-of-use assets Buildings Vehicles TotalAcquisition cost January 1, 2022 64 048 386 64 434Addition of right-of-use assets 10 010 626 10 636Disposals -86 -86Acquisition cost December 31, 2022 74 058 926 74 984Accumulated depreciation and impairment Depreciation 2019 4 293 179 4 472Depreciation 2020 4 575 179 4 754Depreciation 2021 4 679 28 4 707Depreciation 2022 5 411 152 5 563Accumulated depreciation and impairment December 31, 2022 18 958 538 19 496Carrying amount of right-of-use assets December 31, 2022 55 101 388 55 48910 24-50 Lower of remaining lease term or economic life years months Lease liabilities Undiscounted lease liabilities and maturity of cash outflows Buildings Vehicles TotalLess than 1 year 7 534 153 7 6871-2 years 7 534 122 7 6562-3 years 7 534 74 7 6083-4 years 7 534 74 7 6084-5 years 7 534 12 7 546More than 5 years 34 467 0 34 467Total undiscounted lease liabilities at December 31, 2022 72 137 436 72 573Summary of the lease liabilities Buildings Vehicles TotalAt initial application 01.01.2022 54 402 0 54 402New lease liabilities recognised in the year 7 659 539 8 198Installment -7 092 -165 -7 257Interest expense on lease liabilities 2 824 23 2 847Total lease liabilities at December 31, 2022 57 793 397 58 190Current lease liabilities 4 084 133 4 217Non-current lease liabilities 53 708 264 53 973Total cash flow for leases 7 257NOTE 23 - FINANCIAL INSTRUMENTS(NOK thousands) Capitalised financial assets and liabilities Capitalised value equals fair value, except for loans. For details of fair value loans, see the section on \u201cInterest\u201d below. The Group does not practise hedge accounting, financial derivatives held for financial hedging which are recorded at fair value. 31.12.2022 31.12.2021Assets Market-based shares for trading 9 9Currency derivatives 0 363Interest derivatives 62 180 17 042Accounts receivable (Note 14) 141 759 130 942Cash and cash equivalents (Note 16) 655 653 330 401Other long-term receivables, OSEV 39 769 51 178Total 899 370 529 934Liabilities Interest rate derivatives 0 6 677Loans (Note 20) 1 139 476 1 976 112Total 1 139 476 1 982 789The Group as lessor The Group\u2019s main activity is leasing of offshore tonnage. See overview as of April 26, 2023, below. Vessels, Contract expiry, Contract expiry, consolidated Contract type Customer fixed charterer's option Viking Lady Time charter Aker BP December, 2024 December, 2030 Viking Queen Time charter Wintershall May, 2024 April, 2027 Viking Avant Time charter Equinor December, 2025 December, 2028 Viking Energy Time charter Equinor April, 2025 April, 2030 Viking Prince Time charter Aker BP December, 2025 Viking Princess Time charter Wintershall January, 2024 January, 2026 Viking Wind Power Time charter Siemens Gamesa January, 2027 June, 2027 Subsea Viking Time charter Van Oord March, 2028 August, 2028 Viking Vanquish Sold in March 2023 Viking Vision Layup Veritas Viking Layup Vantage Layup Vessel in joint Contract expiry, Contract expiry, venture Contract type Customer fixed charterer's option Seven Viking Time charter Subsea 7 November, 2025 December, 2026 Future minimum lease terms per December 31, 2022, including all new contracts as at April 26, 2023, for consolidated vessels on firm contracts have the following maturity (NOK thousands): Next 1 year 513 000 1 to 5 years 973 000 After 5 years 13 000 Future minimum lease 1 499 000 The Group has operating lease contract on its vessels representing income. The leases have terms of between12 and 62 months. As payments from the lessee to the Group is determined based on the fixed day rate agreedin the contract, no portion of the payments varies other than the passage of time. Currency The Group has entered into currency derivative contracts as part of the management of the Group\u2019s currency exposure. The Group has no currency derivatives per December 31, 2022. At December 31, 2021 Currency sold Amount Maturity Exchange rate Fair value(average) (MTM)Currency derivatives Currency futures for the sale of current cash flow EUR 1 220 2022 10,2987 3633631 220 All currency futures are recorded at fair value. Interest The Group has the following fixed rate agreements: At December 31, 2022 Annual Fair value downscalin(incl. g before NOK accrued maturity Type Currency Floor Cap/Swap Maturity principal interest) (average) Fixed rate loan NOK 3,36 % 27.03.2024 132 329 Variable Fixed rate loan NOK 3,41 % 13.09.2024 148 146 Variable Cap NOK 1,00 % 01.07.2025 150 000 8 993 None Cap NOK 1,00 % 15.07.2025 150 000 9 092 None Cap USD 1,00 % 01.07.2025 246 433 22 154 None Cap USD 1,00 % 15.07.2025 246 433 21 942 None Unhedged 66 135 Total liabilities, hedged and 1 139 476 62 180 unhedged The Group has in Q1 2023 unwinded the two caps in USD. At December 31, 2021 Annual Fair value downscaling (incl. before NOK accrued maturity Type Currency Floor Cap/Swap Maturity principal interest) (average) Fixed rate loan NOK 3,36 % 27.03.2024 142 392 Variable Fixed rate loan NOK 3,41 % 13.09.2024 158 355 Variable Swap USD 2,36 % 21.11.2022 176 388 -3 480 None Swap USD 2,27 % 12.12.2022 176 388 -3 197 None Cap NOK 1,00 % 01.07.2025 150 000 4 376 None Cap NOK 1,00 % 15.07.2025 150 000 4 382 None Cap USD 1,00 % 01.07.2025 220 485 4 231 None Cap USD 1,00 % 15.07.2025 220 485 4 053 None Unhedged 581 620 Total liabilities, hedged and unhedged 1 976 112 10 365 At December 31, 2022, 94% (71%) of the Group\u2019s loans were at fixed interest or swap/cap. The Group has two fixed-interest loans in NOK with a maturity of 12 years originally (CIRR), which are recorded at amortised cost in the balance sheet. If these loans were to be refinanced today with a new margin and money market rate, and retained the same repayment profile, the net present value of the difference between the current interest payments and the refinanced interest payments would be MNOK -3.0 (level 2, see Note 3). If these loans were recorded at fair value, they would have been reported correspondingly lower. See Note 20 for information on long-term loans. NOTE 24 - TRANSACTIONS WITH RELATED PARTIES (NOK thousands) The Group has some transactions with related parties, concerning crew hire, management services for vesseloperations, business and accounting services and leasing of offices. All transactions are based on the arm\u2019slength principle. 2022 2021 Lease of offices from AS Langev\u00e5g Senter -8 477 -8 277 Lease of offices to Evik AS 678 586 Lease of apartment from Evik AS -82 -79 Lease of offices to B\u00f8mmelfjord AS 773 595 Sale of other services to Eidesvik Invest AS 11 52 Lease of offices and other services to Signatur Management AS 952 800 Purchase of office services from Signatur Management AS -22 0 Lease of stockroom and other services from Klubben Eiendom AS -549 -473 Sale of office services and lease of apartment to B\u00f8mlo Skipservice AS 7 39 Purchase of technical and layup services from B\u00f8mlo Skipservice AS -6 636 -6 380 Sale of crew and management services to Eidesvik Seven Chartering AS 94 356 71 769 Sale of management services to Eidesvik Seven AS 1 420 2 793 The balance sheet includes the following amounts resulting from transactions with related parties: 31.12.2022 31.12.2021 Accounts receivable 16 019 12 485 Accounts payable -359 -1 489 Total 15 659 10 996 Shares owned/controlled by Board members/senior executives: 2022 2021 Eidesvik Invest AS (1) 37 200 000 37 200 000 John Egil Stangeland 30 000 30 000 Kristine Elisabeth Skeie 25 000 25 000 Bj\u00f8rg Marit Eknes 25 000 25 000 Gitte Gard Talmo 500 500 Lauritz Eidesvik 200 200 (1) Eidesvik Invest AS is 55%-controlled by B\u00f8mmelfjord AS, where Borgny Eidesvik holds 20% of the shares(A-shares), and Lauritz Eidesvik holds 20% of the shares (B-shares). The remaining 45% of Eidesvik Invest ASis owned by Evik AS, where Lars Eidesvik indirectly holds 20% of the shares. The Eidesvik Offshore ASA Group is a subsidiary of Eidesvik Invest AS, which is a subsidiary of the ultimateparent company B\u00f8mmelfjord AS. Other information No financial assets have been reclassified such that the valuation method has been changed from amortisedcost to fair value, or vice versa. For assessment of fair value (MTM), see Note 3. Remuneration to senior executives: 2022 Base salary Bonus Other Pension costs CEO Gitte Talmo 2 128 770 315 147 COO Arve Nilsen 1 350 312 215 122 CFO Helga Cotgrove 519 180 52 35 Former CEO Jan Fredrik Meling 252 0 1 493 414 Former COO Jan Lodden 1 127 0 56 62 Former CFO Tore Byberg 1 179 0 105 56 Total 2022 6 555 1 261 2 236 837 2021 Base salary Bonus Other Pension costs CEO Jan Fredrik Meling 2 224 384 137 385 COO Jan Lodden 1 730 291 108 125 CFO Tore Byberg 1 594 273 226 115 Total 2021 5 549 948 470 625 The Company has published a separate Report on Remuneration to the Board of Directors, CEO and SeniorExecutives, available for download from the Company\u2019s website. In accordance to the company renumeration policy, a bonus scheme is established for CEO and seniorexecutives. Bonus scheme is based on company targets (75%) and individual targets (25%). Maximum bonusis 35% of annual salary. The Board of Directors may temporarily deviate from any part of the guidelines ifdeemed necessary to protect the long term interest and financial capacity of the Company or safeguard theviability of the company. The CEO has a mutual notice period of 6 months and is entitled to 6 months of severance pay on certain termsper December 31, 2022. Former CEO, Jan Fredrik Meling, retired from his position on December 31, 2021. Gitte Gard Talmo replacedMeling effective from January 1, 2022. Meling has received 60% of his salary in 2022 and will also continue toreceive 60% in 2023. His pension costs has been covered by Eidesvik Offshore ASA in 2022, and will becovered in 2023 as well. COO Jan Lodden resigned from his position in June 2022. Arve Nilsen replaced Lodden effective from June 1,2022. CFO Tore Byberg resigned from his position in July 2022. Helga Cotgrove replaced Byberg effective fromSeptember 19, 2022. Remuneration of the Board 2022 2021 Arne Austreid 319 0 303 279 Borgny Eidesvik 243 236 Lars Eidesvik 243 236 John Egil Stangeland 263 246 Lauritz Eidesvik 243 236 Kristine Elisabeth Skeie 177 0 Bj\u00f8rg Marit Eknes 46 0 Johnny Olson 0 88 Petter L\u00f8nning 248 525 Kolbein Rege 126 279 Synne Syrrist 85 113 B\u00f8rre Lindanger 112 35 Tore Hettervik 2 407 2 273 The Board Remuneration Annual Change 5,57% Board remuneration is decided by the General Meeting. Disbursements for 2022 are remuneration for theprevious year, 2021. 2022 remuneration will be decided on the next Annual General Meeting. Arne Austreid, Bj\u00f8rg Marit Eknes and Tore Hettervik were, respectively, elected as chair of the board memberand employee representative for the board in 2021. Johnny Olson were, respectively, elected as employeerepresentative for the board in 2022. From AGM 2019, the employees have had one employee representative in the Board, and one deputy employeerepresentative. The total remuneration for these two representatives are equal to a original Board Member, andthe split is originally 70/30 between the two employee representatives, depending on the number of meetingsthe deputy employee representative has attended. The employee representatives rotate on a yearly basis, fromJuly to July. Nomination Committee 2022 2021 30 15 Per \u00c5ge Hauge 20 10 Ellen Hatteland* 20 10 Kjetil Eidesvik 20 10 Lauritz Eidesvik** 20 10 Kolbein Rege** * At the Annual General Meeting in 2022, Kristine Klaveness replaced Ellen Hatteland in the NominationCommittee. ** *This compensation is included in the table for remuneration of the board. Remuneration is decided by the General Meeting. Disbursements for 2022 are remuneration for the previousyear, 2021. From AGM 2020, the Nomination Committee was established. The remuneration fee for the NominationCommittee in 2021 is only for the second half of 2020. NOTE 25 - LIABILITIES AND UNEXPECTED EVENTS The Company has no framework agreements or other liabilities per December 31, 2022.NOTE 26 - EXCHANGE RATES Average Exchange rate Average Exchange rateexchange rate 31.12.2022 exchange rate 31.12.20212022 2021 Euro 10,1040 10,5138 10,1648 9,9888UK pound 11,8464 11,8541 11,8254 11,8875US dollar 9,6245 9,8573 8,5991 8,8194Exchange rates from the Norwegian Central Bank\u2019s website. NOTE 27 \u2013 SUBSEQUENT EVENTS AND OTHER INFORMATION Refinancing On February 22, 2023, Eidesvik announced that it had agreed on a term sheet with its financial institutions forrefinancing of its debt. On March 28, 2023, the final agreements and documentation were in place and the newterms for the Group\u2019s financing became effective. The new debt will mature on February 28, 2026, and hencereclassify the majority of the outstanding debt from current liabilities to non-current liabilities. See Note 20 forfurther information. Edda Sun / Viking Reach Eidesvik has formed an entity with Reach Subsea ASA (\u201cReach\u201d). The entity will own and operate the SubseaIMR vessel Viking Reach (former named Edda Sun). Eidesvik will own 50.1% of the new entity. The entity hasbeen financed by equity from both parties and around MNOK 150 of bank financing. The vessel commenced on a 6-year time charter with Reach in the start of Q2 2023. Going forward the vesselwill be operated by Eidesvik. Successful completion of private placement Eidesvik successfully completed a private placement of MNOK 130, through an allocation of 10,833,333 OfferShares at a price per Offer Share of NOK 12 (the \"Offer Price\") on March 2, 2023. The private placement wasapproved in an extraordinary shareholder meeting March 24, 2023. The net proceeds to the Company from thePrivate Placement has been used to fund Eidesvik\u2019 s share of the equity in the entity formed with Reach Subsea,which main purpose is to acquire, own and operate the subsea IMR vessel \"Viking Reach\" (former named \"EddaSun\"), working capital for the JV and general corporate purposes. Eidesvik Invest AS, the Company's mainowner provided bridge financing of MNOK 96 as the completion of the acquisition of the vessel Viking Reachwas done before the private placement proceeds was received. MNOK 77.82 of the bridge financing wasconverted to equity in the private placement. The residual is being repaid from the proceeds from the privateplacement. The board of the Company was given the authority by the extraordinary shareholder meeting held on March 242023, to carry out a subsequent offering of up to 2,000,000 new shares at the Offer Price, which, subject toapplicable securities law, will be directed towards the Company's existing shareholders at March 2, 2023. New contracts Wintershall Dea Norge AS declared an option to extend the contract for the supply vessel Viking Princess fromJuly 2023 in direct continuation of the current contract, extending the firm period to January 2024. Eidesvik has been awarded a contract with Wintershall Dea Norge AS for the vessel Viking Queen. The firmperiod is 12 months with options for further extensions. The new contract will commence in Q2, 2023. Sale of vessel Eidesvik MPSV AS, a wholly owned subsidiary of Eidesvik Offshore ASA, has sold the seismic vessel VikingVanquish. Delivery of the vessel took place at March 28, 2023. The sale of the vessel will result in an immaterialaccounting effect for Q1 2023.",
"dimensions": {
"concept": "ifrs-full:DisclosureOfNotesAndOtherExplanatoryInformationExplanatory",
"language": "en",
"entity": "scheme:5967007LIEEXZXFOMO31",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"f4971": {
"value": "1.1-31.12",
"dimensions": {
"concept": "ifrs-full:PeriodCoveredByFinancialStatements",
"language": "en",
"entity": "scheme:5967007LIEEXZXFOMO31",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"f4985": {
"value": "634722000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:RevenueFromRenderingOfCargoAndMailTransportServices",
"entity": "scheme:5967007LIEEXZXFOMO31",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
"unit": "iso4217:NOK"
}
},
"f4990": {
"value": "569481000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:RevenueFromRenderingOfCargoAndMailTransportServices",
"entity": "scheme:5967007LIEEXZXFOMO31",
"period": "2021-01-01T00:00:00/2022-01-01T00:00:00",
"unit": "iso4217:NOK"
}
},
"f5001": {
"value": "283826000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:OtherIncome",
"entity": "scheme:5967007LIEEXZXFOMO31",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
"unit": "iso4217:NOK"
}
},
"f5006": {
"value": "18317000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:OtherIncome",
"entity": "scheme:5967007LIEEXZXFOMO31",
"period": "2021-01-01T00:00:00/2022-01-01T00:00:00",
"unit": "iso4217:NOK"
}
},
"f5018": {
"value": "918547000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:RevenueAndOperatingIncome",
"entity": "scheme:5967007LIEEXZXFOMO31",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
"unit": "iso4217:NOK"
}
},
"f5023": {
"value": "587798000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:RevenueAndOperatingIncome",
"entity": "scheme:5967007LIEEXZXFOMO31",
"period": "2021-01-01T00:00:00/2022-01-01T00:00:00",
"unit": "iso4217:NOK"
}
},
"f5035": {
"value": "302425000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:EmployeeBenefitsExpense",
"entity": "scheme:5967007LIEEXZXFOMO31",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
"unit": "iso4217:NOK"
}
},
"f5040": {
"value": "273072000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:EmployeeBenefitsExpense",
"entity": "scheme:5967007LIEEXZXFOMO31",
"period": "2021-01-01T00:00:00/2022-01-01T00:00:00",
"unit": "iso4217:NOK"
}
},
"f5050": {
"value": "121910000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:OtherExpenseByNature",
"entity": "scheme:5967007LIEEXZXFOMO31",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
"unit": "iso4217:NOK"
}
},
"f5055": {
"value": "136014000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:OtherExpenseByNature",
"entity": "scheme:5967007LIEEXZXFOMO31",
"period": "2021-01-01T00:00:00/2022-01-01T00:00:00",
"unit": "iso4217:NOK"
}
},
"f5065": {
"value": "424335000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:OperatingExpense",
"entity": "scheme:5967007LIEEXZXFOMO31",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
"unit": "iso4217:NOK"
}
},
"f5070": {
"value": "409086000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:OperatingExpense",
"entity": "scheme:5967007LIEEXZXFOMO31",
"period": "2021-01-01T00:00:00/2022-01-01T00:00:00",
"unit": "iso4217:NOK"
}
},
"f5083": {
"value": "494213000",
"decimals": -3,
"dimensions": {
"concept": "EID:ProfitLossFromOperatingActivitiesBeforeInterestTaxesDepreciationAndAmortisationExpense",
"entity": "scheme:5967007LIEEXZXFOMO31",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
"unit": "iso4217:NOK"
}
},
"f5088": {
"value": "178712000",
"decimals": -3,
"dimensions": {
"concept": "EID:ProfitLossFromOperatingActivitiesBeforeInterestTaxesDepreciationAndAmortisationExpense",
"entity": "scheme:5967007LIEEXZXFOMO31",
"period": "2021-01-01T00:00:00/2022-01-01T00:00:00",
"unit": "iso4217:NOK"
}
},
"f5100": {
"value": "142907000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:DepreciationExpense",
"entity": "scheme:5967007LIEEXZXFOMO31",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
"unit": "iso4217:NOK"
}
},
"f5105": {
"value": "207961000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:DepreciationExpense",
"entity": "scheme:5967007LIEEXZXFOMO31",
"period": "2021-01-01T00:00:00/2022-01-01T00:00:00",
"unit": "iso4217:NOK"
}
},
"f5118": {
"value": "209237000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:WritedownsReversalsOfPropertyPlantAndEquipment",
"entity": "scheme:5967007LIEEXZXFOMO31",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
"unit": "iso4217:NOK"
}
},
"f5122": {
"value": "143797000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:WritedownsReversalsOfPropertyPlantAndEquipment",
"entity": "scheme:5967007LIEEXZXFOMO31",
"period": "2021-01-01T00:00:00/2022-01-01T00:00:00",
"unit": "iso4217:NOK"
}
},
"f5133": {
"value": "560543000",
"decimals": -3,
"dimensions": {
"concept": "EID:ProfitLossFromOperatingActivitiesBeforeShareOfProfitLossOfJointVenturesAccountedForUsingEquityMethod",
"entity": "scheme:5967007LIEEXZXFOMO31",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
"unit": "iso4217:NOK"
}
},
"f5138": {
"value": "114549000",
"decimals": -3,
"dimensions": {
"concept": "EID:ProfitLossFromOperatingActivitiesBeforeShareOfProfitLossOfJointVenturesAccountedForUsingEquityMethod",
"entity": "scheme:5967007LIEEXZXFOMO31",
"period": "2021-01-01T00:00:00/2022-01-01T00:00:00",
"unit": "iso4217:NOK"
}
},
"f5150": {
"value": "-9120000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:ShareOfProfitLossOfJointVenturesAccountedForUsingEquityMethod",
"entity": "scheme:5967007LIEEXZXFOMO31",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
"unit": "iso4217:NOK"
}
},
"f5154": {
"value": "-5916000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:ShareOfProfitLossOfJointVenturesAccountedForUsingEquityMethod",
"entity": "scheme:5967007LIEEXZXFOMO31",
"period": "2021-01-01T00:00:00/2022-01-01T00:00:00",
"unit": "iso4217:NOK"
}
},
"f5162": {
"value": "551423000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:ProfitLossFromOperatingActivities",
"entity": "scheme:5967007LIEEXZXFOMO31",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
"unit": "iso4217:NOK"
}
},
"f5167": {
"value": "108633000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:ProfitLossFromOperatingActivities",
"entity": "scheme:5967007LIEEXZXFOMO31",
"period": "2021-01-01T00:00:00/2022-01-01T00:00:00",
"unit": "iso4217:NOK"
}
},
"f5178": {
"value": "14421000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:FinanceIncome",
"entity": "scheme:5967007LIEEXZXFOMO31",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
"unit": "iso4217:NOK"
}
},
"f5183": {
"value": "10502000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:FinanceIncome",
"entity": "scheme:5967007LIEEXZXFOMO31",
"period": "2021-01-01T00:00:00/2022-01-01T00:00:00",
"unit": "iso4217:NOK"
}
},
"f5194": {
"value": "93845000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:FinanceCosts",
"entity": "scheme:5967007LIEEXZXFOMO31",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
"unit": "iso4217:NOK"
}
},
"f5198": {
"value": "69087000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:FinanceCosts",
"entity": "scheme:5967007LIEEXZXFOMO31",
"period": "2021-01-01T00:00:00/2022-01-01T00:00:00",
"unit": "iso4217:NOK"
}
},
"f5210": {
"value": "51142000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:GainsLossesOnChangeInFairValueOfDerivatives",
"entity": "scheme:5967007LIEEXZXFOMO31",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
"unit": "iso4217:NOK"
}
},
"f5214": {
"value": "18282000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:GainsLossesOnChangeInFairValueOfDerivatives",
"entity": "scheme:5967007LIEEXZXFOMO31",
"period": "2021-01-01T00:00:00/2022-01-01T00:00:00",
"unit": "iso4217:NOK"
}
},
"f5225": {
"value": "-116357000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:GainsLossesOnExchangeDifferencesOnTranslationRecognisedInProfitOrLoss",
"entity": "scheme:5967007LIEEXZXFOMO31",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
"unit": "iso4217:NOK"
}
},
"f5229": {
"value": "-37610000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:GainsLossesOnExchangeDifferencesOnTranslationRecognisedInProfitOrLoss",
"entity": "scheme:5967007LIEEXZXFOMO31",
"period": "2021-01-01T00:00:00/2022-01-01T00:00:00",
"unit": "iso4217:NOK"
}
},
"f5237": {
"value": "-144639000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:FinanceIncomeCost",
"entity": "scheme:5967007LIEEXZXFOMO31",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
"unit": "iso4217:NOK"
}
},
"f5241": {
"value": "-77912000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:FinanceIncomeCost",
"entity": "scheme:5967007LIEEXZXFOMO31",
"period": "2021-01-01T00:00:00/2022-01-01T00:00:00",
"unit": "iso4217:NOK"
}
},
"f5250": {
"value": "406784000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:ProfitLossBeforeTax",
"entity": "scheme:5967007LIEEXZXFOMO31",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
"unit": "iso4217:NOK"
}
},
"f5255": {
"value": "30720000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:ProfitLossBeforeTax",
"entity": "scheme:5967007LIEEXZXFOMO31",
"period": "2021-01-01T00:00:00/2022-01-01T00:00:00",
"unit": "iso4217:NOK"
}
},
"f5266": {
"value": "49000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:IncomeTaxExpenseContinuingOperations",
"entity": "scheme:5967007LIEEXZXFOMO31",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
"unit": "iso4217:NOK"
}
},
"f5270": {
"value": "-16000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:IncomeTaxExpenseContinuingOperations",
"entity": "scheme:5967007LIEEXZXFOMO31",
"period": "2021-01-01T00:00:00/2022-01-01T00:00:00",
"unit": "iso4217:NOK"
}
},
"f5279": {
"value": "406736000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:ProfitLoss",
"entity": "scheme:5967007LIEEXZXFOMO31",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
"unit": "iso4217:NOK"
}
},
"f5284": {
"value": "30737000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:ProfitLoss",
"entity": "scheme:5967007LIEEXZXFOMO31",
"period": "2021-01-01T00:00:00/2022-01-01T00:00:00",
"unit": "iso4217:NOK"
}
},
"f5299": {
"value": "346056000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:ProfitLossAttributableToOwnersOfParent",
"entity": "scheme:5967007LIEEXZXFOMO31",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
"unit": "iso4217:NOK"
}
},
"f5304": {
"value": "-15746000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:ProfitLossAttributableToOwnersOfParent",
"entity": "scheme:5967007LIEEXZXFOMO31",
"period": "2021-01-01T00:00:00/2022-01-01T00:00:00",
"unit": "iso4217:NOK"
}
},
"f5317": {
"value": "60680000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:ProfitLossAttributableToNoncontrollingInterests",
"entity": "scheme:5967007LIEEXZXFOMO31",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
"unit": "iso4217:NOK"
}
},
"f5322": {
"value": "46482000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:ProfitLossAttributableToNoncontrollingInterests",
"entity": "scheme:5967007LIEEXZXFOMO31",
"period": "2021-01-01T00:00:00/2022-01-01T00:00:00",
"unit": "iso4217:NOK"
}
},
"f5330": {
"value": "406736000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:ProfitLoss",
"entity": "scheme:5967007LIEEXZXFOMO31",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
"unit": "iso4217:NOK"
}
},
"f5335": {
"value": "30737000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:ProfitLoss",
"entity": "scheme:5967007LIEEXZXFOMO31",
"period": "2021-01-01T00:00:00/2022-01-01T00:00:00",
"unit": "iso4217:NOK"
}
},
"f5346": {
"value": "5.57",
"decimals": 2,
"dimensions": {
"concept": "ifrs-full:BasicEarningsLossPerShare",
"entity": "scheme:5967007LIEEXZXFOMO31",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
"unit": "iso4217:NOK/xbrli:shares"
}
},
"f5351": {
"value": "-0.25",
"decimals": 2,
"dimensions": {
"concept": "ifrs-full:BasicEarningsLossPerShare",
"entity": "scheme:5967007LIEEXZXFOMO31",
"period": "2021-01-01T00:00:00/2022-01-01T00:00:00",
"unit": "iso4217:NOK/xbrli:shares"
}
},
"f5362": {
"value": "5.57",
"decimals": 2,
"dimensions": {
"concept": "ifrs-full:DilutedEarningsLossPerShare",
"entity": "scheme:5967007LIEEXZXFOMO31",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
"unit": "iso4217:NOK/xbrli:shares"
}
},
"f5367": {
"value": "-0.25",
"decimals": 2,
"dimensions": {
"concept": "ifrs-full:DilutedEarningsLossPerShare",
"entity": "scheme:5967007LIEEXZXFOMO31",
"period": "2021-01-01T00:00:00/2022-01-01T00:00:00",
"unit": "iso4217:NOK/xbrli:shares"
}
},
"f5429": {
"value": "406736000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:ProfitLoss",
"entity": "scheme:5967007LIEEXZXFOMO31",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
"unit": "iso4217:NOK"
}
},
"f5434": {
"value": "30737000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:ProfitLoss",
"entity": "scheme:5967007LIEEXZXFOMO31",
"period": "2021-01-01T00:00:00/2022-01-01T00:00:00",
"unit": "iso4217:NOK"
}
},
"f5460": {
"value": "213000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:OtherComprehensiveIncomeNetOfTaxGainsLossesOnRemeasurementsOfDefinedBenefitPlans",
"entity": "scheme:5967007LIEEXZXFOMO31",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
"unit": "iso4217:NOK"
}
},
"f5466": {
"value": "-55000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:OtherComprehensiveIncomeNetOfTaxGainsLossesOnRemeasurementsOfDefinedBenefitPlans",
"entity": "scheme:5967007LIEEXZXFOMO31",
"period": "2021-01-01T00:00:00/2022-01-01T00:00:00",
"unit": "iso4217:NOK"
}
},
"f5487": {
"value": "0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:OtherComprehensiveIncomeNetOfTaxFinancialAssetsMeasuredAtFairValueThroughOtherComprehensiveIncome",
"entity": "scheme:5967007LIEEXZXFOMO31",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
"unit": "iso4217:NOK"
}
},
"f5491": {
"value": "9900000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:OtherComprehensiveIncomeNetOfTaxFinancialAssetsMeasuredAtFairValueThroughOtherComprehensiveIncome",
"entity": "scheme:5967007LIEEXZXFOMO31",
"period": "2021-01-01T00:00:00/2022-01-01T00:00:00",
"unit": "iso4217:NOK"
}
},
"f5512": {
"value": "406948000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:ComprehensiveIncome",
"entity": "scheme:5967007LIEEXZXFOMO31",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
"unit": "iso4217:NOK"
}
},
"f5517": {
"value": "40581000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:ComprehensiveIncome",
"entity": "scheme:5967007LIEEXZXFOMO31",
"period": "2021-01-01T00:00:00/2022-01-01T00:00:00",
"unit": "iso4217:NOK"
}
},
"f5548": {
"value": "346268000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:ComprehensiveIncomeAttributableToOwnersOfParent",
"entity": "scheme:5967007LIEEXZXFOMO31",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
"unit": "iso4217:NOK"
}
},
"f5553": {
"value": "-5901000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:ComprehensiveIncomeAttributableToOwnersOfParent",
"entity": "scheme:5967007LIEEXZXFOMO31",
"period": "2021-01-01T00:00:00/2022-01-01T00:00:00",
"unit": "iso4217:NOK"
}
},
"f5566": {
"value": "60680000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:ComprehensiveIncomeAttributableToNoncontrollingInterests",
"entity": "scheme:5967007LIEEXZXFOMO31",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
"unit": "iso4217:NOK"
}
},
"f5571": {
"value": "46482000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:ComprehensiveIncomeAttributableToNoncontrollingInterests",
"entity": "scheme:5967007LIEEXZXFOMO31",
"period": "2021-01-01T00:00:00/2022-01-01T00:00:00",
"unit": "iso4217:NOK"
}
},
"f5584": {
"value": "406948000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:ComprehensiveIncome",
"entity": "scheme:5967007LIEEXZXFOMO31",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
"unit": "iso4217:NOK"
}
},
"f5589": {
"value": "40581000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:ComprehensiveIncome",
"entity": "scheme:5967007LIEEXZXFOMO31",
"period": "2021-01-01T00:00:00/2022-01-01T00:00:00",
"unit": "iso4217:NOK"
}
},
"f5634": {
"value": "1062780000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:Ships",
"entity": "scheme:5967007LIEEXZXFOMO31",
"period": "2023-01-01T00:00:00",
"unit": "iso4217:NOK"
}
},
"f5638": {
"value": "908507000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:Ships",
"entity": "scheme:5967007LIEEXZXFOMO31",
"period": "2022-01-01T00:00:00",
"unit": "iso4217:NOK"
}
},
"f5652": {
"value": "18547000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:OtherPropertyPlantAndEquipment",
"entity": "scheme:5967007LIEEXZXFOMO31",
"period": "2023-01-01T00:00:00",
"unit": "iso4217:NOK"
}
},
"f5657": {
"value": "20524000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:OtherPropertyPlantAndEquipment",
"entity": "scheme:5967007LIEEXZXFOMO31",
"period": "2022-01-01T00:00:00",
"unit": "iso4217:NOK"
}
},
"f5670": {
"value": "30065000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:NoncurrentDerivativeFinancialAssets",
"entity": "scheme:5967007LIEEXZXFOMO31",
"period": "2023-01-01T00:00:00",
"unit": "iso4217:NOK"
}
},
"f5675": {
"value": "15791000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:NoncurrentDerivativeFinancialAssets",
"entity": "scheme:5967007LIEEXZXFOMO31",
"period": "2022-01-01T00:00:00",
"unit": "iso4217:NOK"
}
},
"f5690": {
"value": "55489000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:RightofuseAssets",
"entity": "scheme:5967007LIEEXZXFOMO31",
"period": "2023-01-01T00:00:00",
"unit": "iso4217:NOK"
}
},
"f5695": {
"value": "50502000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:RightofuseAssets",
"entity": "scheme:5967007LIEEXZXFOMO31",
"period": "2022-01-01T00:00:00",
"unit": "iso4217:NOK"
}
},
"f5707": {
"value": "137882000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:InvestmentsInJointVenturesAccountedForUsingEquityMethod",
"entity": "scheme:5967007LIEEXZXFOMO31",
"period": "2023-01-01T00:00:00",
"unit": "iso4217:NOK"
}
},
"f5712": {
"value": "147525000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:InvestmentsInJointVenturesAccountedForUsingEquityMethod",
"entity": "scheme:5967007LIEEXZXFOMO31",
"period": "2022-01-01T00:00:00",
"unit": "iso4217:NOK"
}
},
"f5723": {
"value": "3118000",
"decimals": -3,
"dimensions": {
"concept": "EID:InvestmentAccountedForUsingEquityMethodAndNonCurrentInvestmentsOtherThanInvestmentsAccountedForUsingEquityMethod",
"entity": "scheme:5967007LIEEXZXFOMO31",
"period": "2023-01-01T00:00:00",
"unit": "iso4217:NOK"
}
},
"f5728": {
"value": "2595000",
"decimals": -3,
"dimensions": {
"concept": "EID:InvestmentAccountedForUsingEquityMethodAndNonCurrentInvestmentsOtherThanInvestmentsAccountedForUsingEquityMethod",
"entity": "scheme:5967007LIEEXZXFOMO31",
"period": "2022-01-01T00:00:00",
"unit": "iso4217:NOK"
}
},
"f5740": {
"value": "417000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:NoncurrentRecognisedAssetsDefinedBenefitPlan",
"entity": "scheme:5967007LIEEXZXFOMO31",
"period": "2023-01-01T00:00:00",
"unit": "iso4217:NOK"
}
},
"f5745": {
"value": "282000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:NoncurrentRecognisedAssetsDefinedBenefitPlan",
"entity": "scheme:5967007LIEEXZXFOMO31",
"period": "2022-01-01T00:00:00",
"unit": "iso4217:NOK"
}
},
"f5759": {
"value": "39769000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:OtherNoncurrentReceivables",
"entity": "scheme:5967007LIEEXZXFOMO31",
"period": "2023-01-01T00:00:00",
"unit": "iso4217:NOK"
}
},
"f5764": {
"value": "51178000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:OtherNoncurrentReceivables",
"entity": "scheme:5967007LIEEXZXFOMO31",
"period": "2022-01-01T00:00:00",
"unit": "iso4217:NOK"
}
},
"f5773": {
"value": "1348068000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:NoncurrentAssets",
"entity": "scheme:5967007LIEEXZXFOMO31",
"period": "2023-01-01T00:00:00",
"unit": "iso4217:NOK"
}
},
"f5777": {
"value": "1196904000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:NoncurrentAssets",
"entity": "scheme:5967007LIEEXZXFOMO31",
"period": "2022-01-01T00:00:00",
"unit": "iso4217:NOK"
}
},
"f5791": {
"value": "141759000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:TradeAndOtherCurrentReceivables",
"entity": "scheme:5967007LIEEXZXFOMO31",
"period": "2023-01-01T00:00:00",
"unit": "iso4217:NOK"
}
},
"f5796": {
"value": "130942000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:TradeAndOtherCurrentReceivables",
"entity": "scheme:5967007LIEEXZXFOMO31",
"period": "2022-01-01T00:00:00",
"unit": "iso4217:NOK"
}
},
"f5808": {
"value": "32115000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:CurrentDerivativeFinancialAssets",
"entity": "scheme:5967007LIEEXZXFOMO31",
"period": "2023-01-01T00:00:00",
"unit": "iso4217:NOK"
}
},
"f5813": {
"value": "1613000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:CurrentDerivativeFinancialAssets",
"entity": "scheme:5967007LIEEXZXFOMO31",
"period": "2022-01-01T00:00:00",
"unit": "iso4217:NOK"
}
},
"f5824": {
"value": "80744000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:OtherCurrentAssets",
"entity": "scheme:5967007LIEEXZXFOMO31",
"period": "2023-01-01T00:00:00",
"unit": "iso4217:NOK"
}
},
"f5828": {
"value": "68265000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:OtherCurrentAssets",
"entity": "scheme:5967007LIEEXZXFOMO31",
"period": "2022-01-01T00:00:00",
"unit": "iso4217:NOK"
}
},
"f5841": {
"value": "655653000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:CashAndCashEquivalents",
"entity": "scheme:5967007LIEEXZXFOMO31",
"period": "2023-01-01T00:00:00",
"unit": "iso4217:NOK"
}
},
"f5845": {
"value": "330401000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:CashAndCashEquivalents",
"entity": "scheme:5967007LIEEXZXFOMO31",
"period": "2022-01-01T00:00:00",
"unit": "iso4217:NOK"
}
},
"f5855": {
"value": "910271000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:CurrentAssetsOtherThanAssetsOrDisposalGroupsClassifiedAsHeldForSaleOrAsHeldForDistributionToOwners",
"entity": "scheme:5967007LIEEXZXFOMO31",
"period": "2023-01-01T00:00:00",
"unit": "iso4217:NOK"
}
},
"f5860": {
"value": "531220000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:CurrentAssetsOtherThanAssetsOrDisposalGroupsClassifiedAsHeldForSaleOrAsHeldForDistributionToOwners",
"entity": "scheme:5967007LIEEXZXFOMO31",
"period": "2022-01-01T00:00:00",
"unit": "iso4217:NOK"
}
},
"f5872": {
"value": "80695000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:NoncurrentAssetsOrDisposalGroupsClassifiedAsHeldForSale",
"entity": "scheme:5967007LIEEXZXFOMO31",
"period": "2023-01-01T00:00:00",
"unit": "iso4217:NOK"
}
},
"f5877": {
"value": "1022459000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:NoncurrentAssetsOrDisposalGroupsClassifiedAsHeldForSale",
"entity": "scheme:5967007LIEEXZXFOMO31",
"period": "2022-01-01T00:00:00",
"unit": "iso4217:NOK"
}
},
"f5886": {
"value": "2339034000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:Assets",
"entity": "scheme:5967007LIEEXZXFOMO31",
"period": "2023-01-01T00:00:00",
"unit": "iso4217:NOK"
}
},
"f5890": {
"value": "2750583000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:Assets",
"entity": "scheme:5967007LIEEXZXFOMO31",
"period": "2022-01-01T00:00:00",
"unit": "iso4217:NOK"
}
},
"f5964": {
"value": "3108000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:IssuedCapital",
"entity": "scheme:5967007LIEEXZXFOMO31",
"period": "2023-01-01T00:00:00",
"unit": "iso4217:NOK"
}
},
"f5969": {
"value": "3108000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:IssuedCapital",
"entity": "scheme:5967007LIEEXZXFOMO31",
"period": "2022-01-01T00:00:00",
"unit": "iso4217:NOK"
}
},
"f5980": {
"value": "177275000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:SharePremium",
"entity": "scheme:5967007LIEEXZXFOMO31",
"period": "2023-01-01T00:00:00",
"unit": "iso4217:NOK"
}
},
"f5985": {
"value": "177275000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:SharePremium",
"entity": "scheme:5967007LIEEXZXFOMO31",
"period": "2022-01-01T00:00:00",
"unit": "iso4217:NOK"
}
},
"f5997": {
"value": "629000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:AdditionalPaidinCapital",
"entity": "scheme:5967007LIEEXZXFOMO31",
"period": "2023-01-01T00:00:00",
"unit": "iso4217:NOK"
}
},
"f6002": {
"value": "629000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:AdditionalPaidinCapital",
"entity": "scheme:5967007LIEEXZXFOMO31",
"period": "2022-01-01T00:00:00",
"unit": "iso4217:NOK"
}
},
"f6014": {
"value": "-377000",
"decimals": -3,
"dimensions": {
"concept": "EID:MiscellaneousOtherReserves",
"entity": "scheme:5967007LIEEXZXFOMO31",
"period": "2023-01-01T00:00:00",
"unit": "iso4217:NOK"
}
},
"f6019": {
"value": "-590000",
"decimals": -3,
"dimensions": {
"concept": "EID:MiscellaneousOtherReserves",
"entity": "scheme:5967007LIEEXZXFOMO31",
"period": "2022-01-01T00:00:00",
"unit": "iso4217:NOK"
}
},
"f6029": {
"value": "684167000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:RetainedEarnings",
"entity": "scheme:5967007LIEEXZXFOMO31",
"period": "2023-01-01T00:00:00",
"unit": "iso4217:NOK"
}
},
"f6034": {
"value": "338112000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:RetainedEarnings",
"entity": "scheme:5967007LIEEXZXFOMO31",
"period": "2022-01-01T00:00:00",
"unit": "iso4217:NOK"
}
},
"f6047": {
"value": "864802000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:EquityAttributableToOwnersOfParent",
"entity": "scheme:5967007LIEEXZXFOMO31",
"period": "2023-01-01T00:00:00",
"unit": "iso4217:NOK"
}
},
"f6052": {
"value": "518534000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:EquityAttributableToOwnersOfParent",
"entity": "scheme:5967007LIEEXZXFOMO31",
"period": "2022-01-01T00:00:00",
"unit": "iso4217:NOK"
}
},
"f6066": {
"value": "63245000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:NoncontrollingInterests",
"entity": "scheme:5967007LIEEXZXFOMO31",
"period": "2023-01-01T00:00:00",
"unit": "iso4217:NOK"
}
},
"f6071": {
"value": "2565000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:NoncontrollingInterests",
"entity": "scheme:5967007LIEEXZXFOMO31",
"period": "2022-01-01T00:00:00",
"unit": "iso4217:NOK"
}
},
"f6082": {
"value": "928047000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:Equity",
"entity": "scheme:5967007LIEEXZXFOMO31",
"period": "2023-01-01T00:00:00",
"unit": "iso4217:NOK"
}
},
"f6087": {
"value": "521098000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:Equity",
"entity": "scheme:5967007LIEEXZXFOMO31",
"period": "2022-01-01T00:00:00",
"unit": "iso4217:NOK"
}
},
"f6132": {
"value": "43169000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:LongtermBorrowings",
"entity": "scheme:5967007LIEEXZXFOMO31",
"period": "2023-01-01T00:00:00",
"unit": "iso4217:NOK"
}
},
"f6137": {
"value": "1044199000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:LongtermBorrowings",
"entity": "scheme:5967007LIEEXZXFOMO31",
"period": "2022-01-01T00:00:00",
"unit": "iso4217:NOK"
}
},
"f6148": {
"value": "53973000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:NoncurrentLeaseLiabilities",
"entity": "scheme:5967007LIEEXZXFOMO31",
"period": "2023-01-01T00:00:00",
"unit": "iso4217:NOK"
}
},
"f6153": {
"value": "51147000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:NoncurrentLeaseLiabilities",
"entity": "scheme:5967007LIEEXZXFOMO31",
"period": "2022-01-01T00:00:00",
"unit": "iso4217:NOK"
}
},
"f6167": {
"value": "97142000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:NoncurrentLiabilities",
"entity": "scheme:5967007LIEEXZXFOMO31",
"period": "2023-01-01T00:00:00",
"unit": "iso4217:NOK"
}
},
"f6172": {
"value": "1095346000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:NoncurrentLiabilities",
"entity": "scheme:5967007LIEEXZXFOMO31",
"period": "2022-01-01T00:00:00",
"unit": "iso4217:NOK"
}
},
"f6205": {
"value": "989534000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:ShorttermBorrowings",
"entity": "scheme:5967007LIEEXZXFOMO31",
"period": "2023-01-01T00:00:00",
"unit": "iso4217:NOK"
}
},
"f6210": {
"value": "94379000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:ShorttermBorrowings",
"entity": "scheme:5967007LIEEXZXFOMO31",
"period": "2022-01-01T00:00:00",
"unit": "iso4217:NOK"
}
},
"f6222": {
"value": "0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:CurrentDerivativeFinancialLiabilities",
"entity": "scheme:5967007LIEEXZXFOMO31",
"period": "2023-01-01T00:00:00",
"unit": "iso4217:NOK"
}
},
"f6226": {
"value": "6677000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:CurrentDerivativeFinancialLiabilities",
"entity": "scheme:5967007LIEEXZXFOMO31",
"period": "2022-01-01T00:00:00",
"unit": "iso4217:NOK"
}
},
"f6238": {
"value": "4217000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:CurrentLeaseLiabilities",
"entity": "scheme:5967007LIEEXZXFOMO31",
"period": "2023-01-01T00:00:00",
"unit": "iso4217:NOK"
}
},
"f6243": {
"value": "3256000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:CurrentLeaseLiabilities",
"entity": "scheme:5967007LIEEXZXFOMO31",
"period": "2022-01-01T00:00:00",
"unit": "iso4217:NOK"
}
},
"f6254": {
"value": "30022000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:TradeAndOtherCurrentPayables",
"entity": "scheme:5967007LIEEXZXFOMO31",
"period": "2023-01-01T00:00:00",
"unit": "iso4217:NOK"
}
},
"f6259": {
"value": "48234000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:TradeAndOtherCurrentPayables",
"entity": "scheme:5967007LIEEXZXFOMO31",
"period": "2022-01-01T00:00:00",
"unit": "iso4217:NOK"
}
},
"f6272": {
"value": "177707000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:OtherCurrentLiabilities",
"entity": "scheme:5967007LIEEXZXFOMO31",
"period": "2023-01-01T00:00:00",
"unit": "iso4217:NOK"
}
},
"f6277": {
"value": "140929000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:OtherCurrentLiabilities",
"entity": "scheme:5967007LIEEXZXFOMO31",
"period": "2022-01-01T00:00:00",
"unit": "iso4217:NOK"
}
},
"f6289": {
"value": "1201480000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:CurrentLiabilitiesOtherThanLiabilitiesIncludedInDisposalGroupsClassifiedAsHeldForSale",
"entity": "scheme:5967007LIEEXZXFOMO31",
"period": "2023-01-01T00:00:00",
"unit": "iso4217:NOK"
}
},
"f6293": {
"value": "293474000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:CurrentLiabilitiesOtherThanLiabilitiesIncludedInDisposalGroupsClassifiedAsHeldForSale",
"entity": "scheme:5967007LIEEXZXFOMO31",
"period": "2022-01-01T00:00:00",
"unit": "iso4217:NOK"
}
},
"f6315": {
"value": "112365000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:LiabilitiesIncludedInDisposalGroupsClassifiedAsHeldForSale",
"entity": "scheme:5967007LIEEXZXFOMO31",
"period": "2023-01-01T00:00:00",
"unit": "iso4217:NOK"
}
},
"f6320": {
"value": "840666000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:LiabilitiesIncludedInDisposalGroupsClassifiedAsHeldForSale",
"entity": "scheme:5967007LIEEXZXFOMO31",
"period": "2022-01-01T00:00:00",
"unit": "iso4217:NOK"
}
},
"f6339": {
"value": "1410988000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:Liabilities",
"entity": "scheme:5967007LIEEXZXFOMO31",
"period": "2023-01-01T00:00:00",
"unit": "iso4217:NOK"
}
},
"f6343": {
"value": "2229485000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:Liabilities",
"entity": "scheme:5967007LIEEXZXFOMO31",
"period": "2022-01-01T00:00:00",
"unit": "iso4217:NOK"
}
},
"f6363": {
"value": "2339034000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:EquityAndLiabilities",
"entity": "scheme:5967007LIEEXZXFOMO31",
"period": "2023-01-01T00:00:00",
"unit": "iso4217:NOK"
}
},
"f6367": {
"value": "2750583000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:EquityAndLiabilities",
"entity": "scheme:5967007LIEEXZXFOMO31",
"period": "2022-01-01T00:00:00",
"unit": "iso4217:NOK"
}
},
"f6513": {
"value": "613906000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:ReceiptsFromSalesOfGoodsAndRenderingOfServices",
"entity": "scheme:5967007LIEEXZXFOMO31",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
"unit": "iso4217:NOK"
}
},
"f6517": {
"value": "539955000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:ReceiptsFromSalesOfGoodsAndRenderingOfServices",
"entity": "scheme:5967007LIEEXZXFOMO31",
"period": "2021-01-01T00:00:00/2022-01-01T00:00:00",
"unit": "iso4217:NOK"
}
},
"f6528": {
"value": "473198000",
"decimals": -3,
"dimensions": {
"concept": "EID:PaymentsToSuppliersForGoodsAndServicesAndToAndOnBehalfOfEmployeesAndOtherCashPaymentsFromOperatingActivities",
"entity": "scheme:5967007LIEEXZXFOMO31",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
"unit": "iso4217:NOK"
}
},
"f6532": {
"value": "475091000",
"decimals": -3,
"dimensions": {
"concept": "EID:PaymentsToSuppliersForGoodsAndServicesAndToAndOnBehalfOfEmployeesAndOtherCashPaymentsFromOperatingActivities",
"entity": "scheme:5967007LIEEXZXFOMO31",
"period": "2021-01-01T00:00:00/2022-01-01T00:00:00",
"unit": "iso4217:NOK"
}
},
"f6543": {
"value": "64950000",
"decimals": -3,
"dimensions": {
"concept": "EID:ReceiptsFromReimbursementSchemeNorwegianSeamen",
"entity": "scheme:5967007LIEEXZXFOMO31",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
"unit": "iso4217:NOK"
}
},
"f6547": {
"value": "86253000",
"decimals": -3,
"dimensions": {
"concept": "EID:ReceiptsFromReimbursementSchemeNorwegianSeamen",
"entity": "scheme:5967007LIEEXZXFOMO31",
"period": "2021-01-01T00:00:00/2022-01-01T00:00:00",
"unit": "iso4217:NOK"
}
},
"f6556": {
"value": "-3338000",
"decimals": -3,
"dimensions": {
"concept": "EID:InterestPaidAndInterestReceivedClassifiedAsOperatingActivities",
"entity": "scheme:5967007LIEEXZXFOMO31",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
"unit": "iso4217:NOK"
}
},
"f6561": {
"value": "-70000",
"decimals": -3,
"dimensions": {
"concept": "EID:InterestPaidAndInterestReceivedClassifiedAsOperatingActivities",
"entity": "scheme:5967007LIEEXZXFOMO31",
"period": "2021-01-01T00:00:00/2022-01-01T00:00:00",
"unit": "iso4217:NOK"
}
},
"f6572": {
"value": "135000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:IncomeTaxesPaidRefundClassifiedAsOperatingActivities",
"entity": "scheme:5967007LIEEXZXFOMO31",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
"unit": "iso4217:NOK"
}
},
"f6576": {
"value": "-74000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:IncomeTaxesPaidRefundClassifiedAsOperatingActivities",
"entity": "scheme:5967007LIEEXZXFOMO31",
"period": "2021-01-01T00:00:00/2022-01-01T00:00:00",
"unit": "iso4217:NOK"
}
},
"f6586": {
"value": "208861000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:CashFlowsFromUsedInOperatingActivities",
"entity": "scheme:5967007LIEEXZXFOMO31",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
"unit": "iso4217:NOK"
}
},
"f6590": {
"value": "151261000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:CashFlowsFromUsedInOperatingActivities",
"entity": "scheme:5967007LIEEXZXFOMO31",
"period": "2021-01-01T00:00:00/2022-01-01T00:00:00",
"unit": "iso4217:NOK"
}
},
"f6610": {
"value": "1230746000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:ProceedsFromDisposalsOfPropertyPlantAndEquipmentIntangibleAssetsOtherThanGoodwillInvestmentPropertyAndOtherNoncurrentAssets",
"entity": "scheme:5967007LIEEXZXFOMO31",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
"unit": "iso4217:NOK"
}
},
"f6614": {
"value": "23750000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:ProceedsFromDisposalsOfPropertyPlantAndEquipmentIntangibleAssetsOtherThanGoodwillInvestmentPropertyAndOtherNoncurrentAssets",
"entity": "scheme:5967007LIEEXZXFOMO31",
"period": "2021-01-01T00:00:00/2022-01-01T00:00:00",
"unit": "iso4217:NOK"
}
},
"f6628": {
"value": "44102000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:CashReceiptsFromRepaymentOfAdvancesAndLoansMadeToOtherPartiesClassifiedAsInvestingActivities",
"entity": "scheme:5967007LIEEXZXFOMO31",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
"unit": "iso4217:NOK"
}
},
"f6633": {
"value": "38711000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:CashReceiptsFromRepaymentOfAdvancesAndLoansMadeToOtherPartiesClassifiedAsInvestingActivities",
"entity": "scheme:5967007LIEEXZXFOMO31",
"period": "2021-01-01T00:00:00/2022-01-01T00:00:00",
"unit": "iso4217:NOK"
}
},
"f6647": {
"value": "0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:CashFlowsFromUsedInDecreaseIncreaseInShorttermDepositsAndInvestments",
"entity": "scheme:5967007LIEEXZXFOMO31",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
"unit": "iso4217:NOK"
}
},
"f6651": {
"value": "259161000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:CashFlowsFromUsedInDecreaseIncreaseInShorttermDepositsAndInvestments",
"entity": "scheme:5967007LIEEXZXFOMO31",
"period": "2021-01-01T00:00:00/2022-01-01T00:00:00",
"unit": "iso4217:NOK"
}
},
"f6664": {
"value": "103410000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:PurchaseOfPropertyPlantAndEquipmentClassifiedAsInvestingActivities",
"entity": "scheme:5967007LIEEXZXFOMO31",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
"unit": "iso4217:NOK"
}
},
"f6668": {
"value": "93135000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:PurchaseOfPropertyPlantAndEquipmentClassifiedAsInvestingActivities",
"entity": "scheme:5967007LIEEXZXFOMO31",
"period": "2021-01-01T00:00:00/2022-01-01T00:00:00",
"unit": "iso4217:NOK"
}
},
"f6678": {
"value": "1171438000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:CashFlowsFromUsedInInvestingActivities",
"entity": "scheme:5967007LIEEXZXFOMO31",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
"unit": "iso4217:NOK"
}
},
"f6682": {
"value": "228487000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:CashFlowsFromUsedInInvestingActivities",
"entity": "scheme:5967007LIEEXZXFOMO31",
"period": "2021-01-01T00:00:00/2022-01-01T00:00:00",
"unit": "iso4217:NOK"
}
},
"f6701": {
"value": "4890000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:PaymentsOfLeaseLiabilitiesClassifiedAsFinancingActivities",
"entity": "scheme:5967007LIEEXZXFOMO31",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
"unit": "iso4217:NOK"
}
},
"f6705": {
"value": "3714000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:PaymentsOfLeaseLiabilitiesClassifiedAsFinancingActivities",
"entity": "scheme:5967007LIEEXZXFOMO31",
"period": "2021-01-01T00:00:00/2022-01-01T00:00:00",
"unit": "iso4217:NOK"
}
},
"f6716": {
"value": "0",
"decimals": -3,
"dimensions": {
"concept": "EID:SettlementOfDerivativesClassifiedAsFinancingActivities",
"entity": "scheme:5967007LIEEXZXFOMO31",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
"unit": "iso4217:NOK"
}
},
"f6720": {
"value": "23568000",
"decimals": -3,
"dimensions": {
"concept": "EID:SettlementOfDerivativesClassifiedAsFinancingActivities",
"entity": "scheme:5967007LIEEXZXFOMO31",
"period": "2021-01-01T00:00:00/2022-01-01T00:00:00",
"unit": "iso4217:NOK"
}
},
"f6731": {
"value": "965921000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:RepaymentsOfBorrowingsClassifiedAsFinancingActivities",
"entity": "scheme:5967007LIEEXZXFOMO31",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
"unit": "iso4217:NOK"
}
},
"f6735": {
"value": "420514000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:RepaymentsOfBorrowingsClassifiedAsFinancingActivities",
"entity": "scheme:5967007LIEEXZXFOMO31",
"period": "2021-01-01T00:00:00/2022-01-01T00:00:00",
"unit": "iso4217:NOK"
}
},
"f6744": {
"value": "91009000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:InterestPaidClassifiedAsFinancingActivities",
"entity": "scheme:5967007LIEEXZXFOMO31",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
"unit": "iso4217:NOK"
}
},
"f6748": {
"value": "80163000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:InterestPaidClassifiedAsFinancingActivities",
"entity": "scheme:5967007LIEEXZXFOMO31",
"period": "2021-01-01T00:00:00/2022-01-01T00:00:00",
"unit": "iso4217:NOK"
}
},
"f6758": {
"value": "-1061820000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:CashFlowsFromUsedInFinancingActivities",
"entity": "scheme:5967007LIEEXZXFOMO31",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
"unit": "iso4217:NOK"
}
},
"f6762": {
"value": "-480824000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:CashFlowsFromUsedInFinancingActivities",
"entity": "scheme:5967007LIEEXZXFOMO31",
"period": "2021-01-01T00:00:00/2022-01-01T00:00:00",
"unit": "iso4217:NOK"
}
},
"f6773": {
"value": "6773000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:EffectOfExchangeRateChangesOnCashAndCashEquivalents",
"entity": "scheme:5967007LIEEXZXFOMO31",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
"unit": "iso4217:NOK"
}
},
"f6778": {
"value": "2294000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:EffectOfExchangeRateChangesOnCashAndCashEquivalents",
"entity": "scheme:5967007LIEEXZXFOMO31",
"period": "2021-01-01T00:00:00/2022-01-01T00:00:00",
"unit": "iso4217:NOK"
}
},
"f6788": {
"value": "325252000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:IncreaseDecreaseInCashAndCashEquivalents",
"entity": "scheme:5967007LIEEXZXFOMO31",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
"unit": "iso4217:NOK"
}
},
"f6792": {
"value": "-98782000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:IncreaseDecreaseInCashAndCashEquivalents",
"entity": "scheme:5967007LIEEXZXFOMO31",
"period": "2021-01-01T00:00:00/2022-01-01T00:00:00",
"unit": "iso4217:NOK"
}
},
"f6805": {
"value": "330401000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:CashAndCashEquivalents",
"entity": "scheme:5967007LIEEXZXFOMO31",
"period": "2022-01-01T00:00:00",
"unit": "iso4217:NOK"
}
},
"f6810": {
"value": "429183000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:CashAndCashEquivalents",
"entity": "scheme:5967007LIEEXZXFOMO31",
"period": "2021-01-01T00:00:00",
"unit": "iso4217:NOK"
}
},
"f6822": {
"value": "655653000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:CashAndCashEquivalents",
"entity": "scheme:5967007LIEEXZXFOMO31",
"period": "2023-01-01T00:00:00",
"unit": "iso4217:NOK"
}
},
"f6826": {
"value": "330401000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:CashAndCashEquivalents",
"entity": "scheme:5967007LIEEXZXFOMO31",
"period": "2022-01-01T00:00:00",
"unit": "iso4217:NOK"
}
},
"f6908": {
"value": "3108000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:Equity",
"entity": "scheme:5967007LIEEXZXFOMO31",
"period": "2021-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:IssuedCapitalMember",
"unit": "iso4217:NOK"
}
},
"f6912": {
"value": "177275000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:Equity",
"entity": "scheme:5967007LIEEXZXFOMO31",
"period": "2021-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:SharePremiumMember",
"unit": "iso4217:NOK"
}
},
"f6916": {
"value": "-535000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:Equity",
"entity": "scheme:5967007LIEEXZXFOMO31",
"period": "2021-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:MiscellaneousOtherReservesMember",
"unit": "iso4217:NOK"
}
},
"f6920": {
"value": "629000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:Equity",
"entity": "scheme:5967007LIEEXZXFOMO31",
"period": "2021-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:AdditionalPaidinCapitalMember",
"unit": "iso4217:NOK"
}
},
"f6924": {
"value": "-9900000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:Equity",
"entity": "scheme:5967007LIEEXZXFOMO31",
"period": "2021-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:ReserveOfExchangeDifferencesOnTranslationMember",
"unit": "iso4217:NOK"
}
},
"f6928": {
"value": "411087000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:Equity",
"entity": "scheme:5967007LIEEXZXFOMO31",
"period": "2021-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:RetainedEarningsMember",
"unit": "iso4217:NOK"
}
},
"f6932": {
"value": "581664000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:Equity",
"entity": "scheme:5967007LIEEXZXFOMO31",
"period": "2021-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:EquityAttributableToOwnersOfParentMember",
"unit": "iso4217:NOK"
}
},
"f6936": {
"value": "-101145000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:Equity",
"entity": "scheme:5967007LIEEXZXFOMO31",
"period": "2021-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:NoncontrollingInterestsMember",
"unit": "iso4217:NOK"
}
},
"f6940": {
"value": "480519000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:Equity",
"entity": "scheme:5967007LIEEXZXFOMO31",
"period": "2021-01-01T00:00:00",
"unit": "iso4217:NOK"
}
},
"f6948": {
"value": "0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:ProfitLoss",
"entity": "scheme:5967007LIEEXZXFOMO31",
"period": "2021-01-01T00:00:00/2022-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:IssuedCapitalMember",
"unit": "iso4217:NOK"
}
},
"f6952": {
"value": "0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:ProfitLoss",
"entity": "scheme:5967007LIEEXZXFOMO31",
"period": "2021-01-01T00:00:00/2022-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:SharePremiumMember",
"unit": "iso4217:NOK"
}
},
"f6956": {
"value": "0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:ProfitLoss",
"entity": "scheme:5967007LIEEXZXFOMO31",
"period": "2021-01-01T00:00:00/2022-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:MiscellaneousOtherReservesMember",
"unit": "iso4217:NOK"
}
},
"f6960": {
"value": "0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:ProfitLoss",
"entity": "scheme:5967007LIEEXZXFOMO31",
"period": "2021-01-01T00:00:00/2022-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:AdditionalPaidinCapitalMember",
"unit": "iso4217:NOK"
}
},
"f6964": {
"value": "0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:ProfitLoss",
"entity": "scheme:5967007LIEEXZXFOMO31",
"period": "2021-01-01T00:00:00/2022-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:ReserveOfExchangeDifferencesOnTranslationMember",
"unit": "iso4217:NOK"
}
},
"f6968": {
"value": "-15746000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:ProfitLoss",
"entity": "scheme:5967007LIEEXZXFOMO31",
"period": "2021-01-01T00:00:00/2022-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:RetainedEarningsMember",
"unit": "iso4217:NOK"
}
},
"f6972": {
"value": "-15746000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:ProfitLoss",
"entity": "scheme:5967007LIEEXZXFOMO31",
"period": "2021-01-01T00:00:00/2022-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:EquityAttributableToOwnersOfParentMember",
"unit": "iso4217:NOK"
}
},
"f6976": {
"value": "46482000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:ProfitLoss",
"entity": "scheme:5967007LIEEXZXFOMO31",
"period": "2021-01-01T00:00:00/2022-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:NoncontrollingInterestsMember",
"unit": "iso4217:NOK"
}
},
"f6980": {
"value": "30737000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:ProfitLoss",
"entity": "scheme:5967007LIEEXZXFOMO31",
"period": "2021-01-01T00:00:00/2022-01-01T00:00:00",
"unit": "iso4217:NOK"
}
},
"f6988": {
"value": "0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:OtherComprehensiveIncomeNetOfTaxGainsLossesOnRemeasurementsOfDefinedBenefitPlans",
"entity": "scheme:5967007LIEEXZXFOMO31",
"period": "2021-01-01T00:00:00/2022-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:IssuedCapitalMember",
"unit": "iso4217:NOK"
}
},
"f6992": {
"value": "0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:OtherComprehensiveIncomeNetOfTaxGainsLossesOnRemeasurementsOfDefinedBenefitPlans",
"entity": "scheme:5967007LIEEXZXFOMO31",
"period": "2021-01-01T00:00:00/2022-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:SharePremiumMember",
"unit": "iso4217:NOK"
}
},
"f6996": {
"value": "-55000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:OtherComprehensiveIncomeNetOfTaxGainsLossesOnRemeasurementsOfDefinedBenefitPlans",
"entity": "scheme:5967007LIEEXZXFOMO31",
"period": "2021-01-01T00:00:00/2022-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:MiscellaneousOtherReservesMember",
"unit": "iso4217:NOK"
}
},
"f7000": {
"value": "0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:OtherComprehensiveIncomeNetOfTaxGainsLossesOnRemeasurementsOfDefinedBenefitPlans",
"entity": "scheme:5967007LIEEXZXFOMO31",
"period": "2021-01-01T00:00:00/2022-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:AdditionalPaidinCapitalMember",
"unit": "iso4217:NOK"
}
},
"f7004": {
"value": "0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:OtherComprehensiveIncomeNetOfTaxGainsLossesOnRemeasurementsOfDefinedBenefitPlans",
"entity": "scheme:5967007LIEEXZXFOMO31",
"period": "2021-01-01T00:00:00/2022-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:ReserveOfExchangeDifferencesOnTranslationMember",
"unit": "iso4217:NOK"
}
},
"f7008": {
"value": "0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:OtherComprehensiveIncomeNetOfTaxGainsLossesOnRemeasurementsOfDefinedBenefitPlans",
"entity": "scheme:5967007LIEEXZXFOMO31",
"period": "2021-01-01T00:00:00/2022-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:RetainedEarningsMember",
"unit": "iso4217:NOK"
}
},
"f7012": {
"value": "-55000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:OtherComprehensiveIncomeNetOfTaxGainsLossesOnRemeasurementsOfDefinedBenefitPlans",
"entity": "scheme:5967007LIEEXZXFOMO31",
"period": "2021-01-01T00:00:00/2022-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:EquityAttributableToOwnersOfParentMember",
"unit": "iso4217:NOK"
}
},
"f7016": {
"value": "0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:OtherComprehensiveIncomeNetOfTaxGainsLossesOnRemeasurementsOfDefinedBenefitPlans",
"entity": "scheme:5967007LIEEXZXFOMO31",
"period": "2021-01-01T00:00:00/2022-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:NoncontrollingInterestsMember",
"unit": "iso4217:NOK"
}
},
"f7020": {
"value": "-55000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:OtherComprehensiveIncomeNetOfTaxGainsLossesOnRemeasurementsOfDefinedBenefitPlans",
"entity": "scheme:5967007LIEEXZXFOMO31",
"period": "2021-01-01T00:00:00/2022-01-01T00:00:00",
"unit": "iso4217:NOK"
}
},
"f7028": {
"value": "0",
"decimals": -3,
"dimensions": {
"concept": "EID:OtherAdjustmentsForOtherComprehensiveIncome",
"entity": "scheme:5967007LIEEXZXFOMO31",
"period": "2021-01-01T00:00:00/2022-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:IssuedCapitalMember",
"unit": "iso4217:NOK"
}
},
"f7032": {
"value": "0",
"decimals": -3,
"dimensions": {
"concept": "EID:OtherAdjustmentsForOtherComprehensiveIncome",
"entity": "scheme:5967007LIEEXZXFOMO31",
"period": "2021-01-01T00:00:00/2022-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:SharePremiumMember",
"unit": "iso4217:NOK"
}
},
"f7036": {
"value": "0",
"decimals": -3,
"dimensions": {
"concept": "EID:OtherAdjustmentsForOtherComprehensiveIncome",
"entity": "scheme:5967007LIEEXZXFOMO31",
"period": "2021-01-01T00:00:00/2022-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:MiscellaneousOtherReservesMember",
"unit": "iso4217:NOK"
}
},
"f7040": {
"value": "0",
"decimals": -3,
"dimensions": {
"concept": "EID:OtherAdjustmentsForOtherComprehensiveIncome",
"entity": "scheme:5967007LIEEXZXFOMO31",
"period": "2021-01-01T00:00:00/2022-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:AdditionalPaidinCapitalMember",
"unit": "iso4217:NOK"
}
},
"f7044": {
"value": "9900000",
"decimals": -3,
"dimensions": {
"concept": "EID:OtherAdjustmentsForOtherComprehensiveIncome",
"entity": "scheme:5967007LIEEXZXFOMO31",
"period": "2021-01-01T00:00:00/2022-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:ReserveOfExchangeDifferencesOnTranslationMember",
"unit": "iso4217:NOK"
}
},
"f7048": {
"value": "0",
"decimals": -3,
"dimensions": {
"concept": "EID:OtherAdjustmentsForOtherComprehensiveIncome",
"entity": "scheme:5967007LIEEXZXFOMO31",
"period": "2021-01-01T00:00:00/2022-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:RetainedEarningsMember",
"unit": "iso4217:NOK"
}
},
"f7052": {
"value": "9900000",
"decimals": -3,
"dimensions": {
"concept": "EID:OtherAdjustmentsForOtherComprehensiveIncome",
"entity": "scheme:5967007LIEEXZXFOMO31",
"period": "2021-01-01T00:00:00/2022-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:EquityAttributableToOwnersOfParentMember",
"unit": "iso4217:NOK"
}
},
"f7056": {
"value": "0",
"decimals": -3,
"dimensions": {
"concept": "EID:OtherAdjustmentsForOtherComprehensiveIncome",
"entity": "scheme:5967007LIEEXZXFOMO31",
"period": "2021-01-01T00:00:00/2022-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:NoncontrollingInterestsMember",
"unit": "iso4217:NOK"
}
},
"f7060": {
"value": "9900000",
"decimals": -3,
"dimensions": {
"concept": "EID:OtherAdjustmentsForOtherComprehensiveIncome",
"entity": "scheme:5967007LIEEXZXFOMO31",
"period": "2021-01-01T00:00:00/2022-01-01T00:00:00",
"unit": "iso4217:NOK"
}
},
"f7069": {
"value": "0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:ComprehensiveIncome",
"entity": "scheme:5967007LIEEXZXFOMO31",
"period": "2021-01-01T00:00:00/2022-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:IssuedCapitalMember",
"unit": "iso4217:NOK"
}
},
"f7073": {
"value": "0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:ComprehensiveIncome",
"entity": "scheme:5967007LIEEXZXFOMO31",
"period": "2021-01-01T00:00:00/2022-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:SharePremiumMember",
"unit": "iso4217:NOK"
}
},
"f7077": {
"value": "-55000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:ComprehensiveIncome",
"entity": "scheme:5967007LIEEXZXFOMO31",
"period": "2021-01-01T00:00:00/2022-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:MiscellaneousOtherReservesMember",
"unit": "iso4217:NOK"
}
},
"f7081": {
"value": "0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:ComprehensiveIncome",
"entity": "scheme:5967007LIEEXZXFOMO31",
"period": "2021-01-01T00:00:00/2022-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:AdditionalPaidinCapitalMember",
"unit": "iso4217:NOK"
}
},
"f7085": {
"value": "9900000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:ComprehensiveIncome",
"entity": "scheme:5967007LIEEXZXFOMO31",
"period": "2021-01-01T00:00:00/2022-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:ReserveOfExchangeDifferencesOnTranslationMember",
"unit": "iso4217:NOK"
}
},
"f7089": {
"value": "-15746000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:ComprehensiveIncome",
"entity": "scheme:5967007LIEEXZXFOMO31",
"period": "2021-01-01T00:00:00/2022-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:RetainedEarningsMember",
"unit": "iso4217:NOK"
}
},
"f7093": {
"value": "-5901000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:ComprehensiveIncome",
"entity": "scheme:5967007LIEEXZXFOMO31",
"period": "2021-01-01T00:00:00/2022-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:EquityAttributableToOwnersOfParentMember",
"unit": "iso4217:NOK"
}
},
"f7097": {
"value": "46482000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:ComprehensiveIncome",
"entity": "scheme:5967007LIEEXZXFOMO31",
"period": "2021-01-01T00:00:00/2022-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:NoncontrollingInterestsMember",
"unit": "iso4217:NOK"
}
},
"f7101": {
"value": "40581000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:ComprehensiveIncome",
"entity": "scheme:5967007LIEEXZXFOMO31",
"period": "2021-01-01T00:00:00/2022-01-01T00:00:00",
"unit": "iso4217:NOK"
}
},
"f7110": {
"value": "0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:IncreaseDecreaseThroughChangesInOwnershipInterestsInSubsidiariesThatDoNotResultInLossOfControl",
"entity": "scheme:5967007LIEEXZXFOMO31",
"period": "2021-01-01T00:00:00/2022-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:IssuedCapitalMember",
"unit": "iso4217:NOK"
}
},
"f7114": {
"value": "0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:IncreaseDecreaseThroughChangesInOwnershipInterestsInSubsidiariesThatDoNotResultInLossOfControl",
"entity": "scheme:5967007LIEEXZXFOMO31",
"period": "2021-01-01T00:00:00/2022-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:SharePremiumMember",
"unit": "iso4217:NOK"
}
},
"f7118": {
"value": "0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:IncreaseDecreaseThroughChangesInOwnershipInterestsInSubsidiariesThatDoNotResultInLossOfControl",
"entity": "scheme:5967007LIEEXZXFOMO31",
"period": "2021-01-01T00:00:00/2022-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:MiscellaneousOtherReservesMember",
"unit": "iso4217:NOK"
}
},
"f7122": {
"value": "0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:IncreaseDecreaseThroughChangesInOwnershipInterestsInSubsidiariesThatDoNotResultInLossOfControl",
"entity": "scheme:5967007LIEEXZXFOMO31",
"period": "2021-01-01T00:00:00/2022-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:AdditionalPaidinCapitalMember",
"unit": "iso4217:NOK"
}
},
"f7126": {
"value": "0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:IncreaseDecreaseThroughChangesInOwnershipInterestsInSubsidiariesThatDoNotResultInLossOfControl",
"entity": "scheme:5967007LIEEXZXFOMO31",
"period": "2021-01-01T00:00:00/2022-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:ReserveOfExchangeDifferencesOnTranslationMember",
"unit": "iso4217:NOK"
}
},
"f7130": {
"value": "-57230000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:IncreaseDecreaseThroughChangesInOwnershipInterestsInSubsidiariesThatDoNotResultInLossOfControl",
"entity": "scheme:5967007LIEEXZXFOMO31",
"period": "2021-01-01T00:00:00/2022-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:RetainedEarningsMember",
"unit": "iso4217:NOK"
}
},
"f7134": {
"value": "-57230000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:IncreaseDecreaseThroughChangesInOwnershipInterestsInSubsidiariesThatDoNotResultInLossOfControl",
"entity": "scheme:5967007LIEEXZXFOMO31",
"period": "2021-01-01T00:00:00/2022-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:EquityAttributableToOwnersOfParentMember",
"unit": "iso4217:NOK"
}
},
"f7138": {
"value": "57230000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:IncreaseDecreaseThroughChangesInOwnershipInterestsInSubsidiariesThatDoNotResultInLossOfControl",
"entity": "scheme:5967007LIEEXZXFOMO31",
"period": "2021-01-01T00:00:00/2022-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:NoncontrollingInterestsMember",
"unit": "iso4217:NOK"
}
},
"f7142": {
"value": "0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:IncreaseDecreaseThroughChangesInOwnershipInterestsInSubsidiariesThatDoNotResultInLossOfControl",
"entity": "scheme:5967007LIEEXZXFOMO31",
"period": "2021-01-01T00:00:00/2022-01-01T00:00:00",
"unit": "iso4217:NOK"
}
},
"f7150": {
"value": "3108000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:Equity",
"entity": "scheme:5967007LIEEXZXFOMO31",
"period": "2022-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:IssuedCapitalMember",
"unit": "iso4217:NOK"
}
},
"f7154": {
"value": "177275000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:Equity",
"entity": "scheme:5967007LIEEXZXFOMO31",
"period": "2022-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:SharePremiumMember",
"unit": "iso4217:NOK"
}
},
"f7158": {
"value": "-590000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:Equity",
"entity": "scheme:5967007LIEEXZXFOMO31",
"period": "2022-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:MiscellaneousOtherReservesMember",
"unit": "iso4217:NOK"
}
},
"f7162": {
"value": "629000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:Equity",
"entity": "scheme:5967007LIEEXZXFOMO31",
"period": "2022-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:AdditionalPaidinCapitalMember",
"unit": "iso4217:NOK"
}
},
"f7166": {
"value": "0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:Equity",
"entity": "scheme:5967007LIEEXZXFOMO31",
"period": "2022-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:ReserveOfExchangeDifferencesOnTranslationMember",
"unit": "iso4217:NOK"
}
},
"f7170": {
"value": "338112000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:Equity",
"entity": "scheme:5967007LIEEXZXFOMO31",
"period": "2022-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:RetainedEarningsMember",
"unit": "iso4217:NOK"
}
},
"f7174": {
"value": "518534000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:Equity",
"entity": "scheme:5967007LIEEXZXFOMO31",
"period": "2022-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:EquityAttributableToOwnersOfParentMember",
"unit": "iso4217:NOK"
}
},
"f7178": {
"value": "2565000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:Equity",
"entity": "scheme:5967007LIEEXZXFOMO31",
"period": "2022-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:NoncontrollingInterestsMember",
"unit": "iso4217:NOK"
}
},
"f7182": {
"value": "521098000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:Equity",
"entity": "scheme:5967007LIEEXZXFOMO31",
"period": "2022-01-01T00:00:00",
"unit": "iso4217:NOK"
}
},
"f7212": {
"value": "0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:ProfitLoss",
"entity": "scheme:5967007LIEEXZXFOMO31",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:IssuedCapitalMember",
"unit": "iso4217:NOK"
}
},
"f7216": {
"value": "0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:ProfitLoss",
"entity": "scheme:5967007LIEEXZXFOMO31",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:SharePremiumMember",
"unit": "iso4217:NOK"
}
},
"f7220": {
"value": "0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:ProfitLoss",
"entity": "scheme:5967007LIEEXZXFOMO31",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:MiscellaneousOtherReservesMember",
"unit": "iso4217:NOK"
}
},
"f7224": {
"value": "0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:ProfitLoss",
"entity": "scheme:5967007LIEEXZXFOMO31",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:AdditionalPaidinCapitalMember",
"unit": "iso4217:NOK"
}
},
"f7228": {
"value": "0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:ProfitLoss",
"entity": "scheme:5967007LIEEXZXFOMO31",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:ReserveOfExchangeDifferencesOnTranslationMember",
"unit": "iso4217:NOK"
}
},
"f7232": {
"value": "346056000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:ProfitLoss",
"entity": "scheme:5967007LIEEXZXFOMO31",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:RetainedEarningsMember",
"unit": "iso4217:NOK"
}
},
"f7236": {
"value": "346056000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:ProfitLoss",
"entity": "scheme:5967007LIEEXZXFOMO31",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:EquityAttributableToOwnersOfParentMember",
"unit": "iso4217:NOK"
}
},
"f7240": {
"value": "60680000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:ProfitLoss",
"entity": "scheme:5967007LIEEXZXFOMO31",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:NoncontrollingInterestsMember",
"unit": "iso4217:NOK"
}
},
"f7244": {
"value": "406736000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:ProfitLoss",
"entity": "scheme:5967007LIEEXZXFOMO31",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
"unit": "iso4217:NOK"
}
},
"f7252": {
"value": "0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:OtherComprehensiveIncomeNetOfTaxGainsLossesOnRemeasurementsOfDefinedBenefitPlans",
"entity": "scheme:5967007LIEEXZXFOMO31",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:IssuedCapitalMember",
"unit": "iso4217:NOK"
}
},
"f7256": {
"value": "0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:OtherComprehensiveIncomeNetOfTaxGainsLossesOnRemeasurementsOfDefinedBenefitPlans",
"entity": "scheme:5967007LIEEXZXFOMO31",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:SharePremiumMember",
"unit": "iso4217:NOK"
}
},
"f7260": {
"value": "213000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:OtherComprehensiveIncomeNetOfTaxGainsLossesOnRemeasurementsOfDefinedBenefitPlans",
"entity": "scheme:5967007LIEEXZXFOMO31",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:MiscellaneousOtherReservesMember",
"unit": "iso4217:NOK"
}
},
"f7264": {
"value": "0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:OtherComprehensiveIncomeNetOfTaxGainsLossesOnRemeasurementsOfDefinedBenefitPlans",
"entity": "scheme:5967007LIEEXZXFOMO31",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:AdditionalPaidinCapitalMember",
"unit": "iso4217:NOK"
}
},
"f7268": {
"value": "0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:OtherComprehensiveIncomeNetOfTaxGainsLossesOnRemeasurementsOfDefinedBenefitPlans",
"entity": "scheme:5967007LIEEXZXFOMO31",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:ReserveOfExchangeDifferencesOnTranslationMember",
"unit": "iso4217:NOK"
}
},
"f7272": {
"value": "0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:OtherComprehensiveIncomeNetOfTaxGainsLossesOnRemeasurementsOfDefinedBenefitPlans",
"entity": "scheme:5967007LIEEXZXFOMO31",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:RetainedEarningsMember",
"unit": "iso4217:NOK"
}
},
"f7276": {
"value": "213000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:OtherComprehensiveIncomeNetOfTaxGainsLossesOnRemeasurementsOfDefinedBenefitPlans",
"entity": "scheme:5967007LIEEXZXFOMO31",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:EquityAttributableToOwnersOfParentMember",
"unit": "iso4217:NOK"
}
},
"f7280": {
"value": "0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:OtherComprehensiveIncomeNetOfTaxGainsLossesOnRemeasurementsOfDefinedBenefitPlans",
"entity": "scheme:5967007LIEEXZXFOMO31",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:NoncontrollingInterestsMember",
"unit": "iso4217:NOK"
}
},
"f7284": {
"value": "213000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:OtherComprehensiveIncomeNetOfTaxGainsLossesOnRemeasurementsOfDefinedBenefitPlans",
"entity": "scheme:5967007LIEEXZXFOMO31",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
"unit": "iso4217:NOK"
}
},
"f7294": {
"value": "0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:ComprehensiveIncome",
"entity": "scheme:5967007LIEEXZXFOMO31",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:IssuedCapitalMember",
"unit": "iso4217:NOK"
}
},
"f7298": {
"value": "0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:ComprehensiveIncome",
"entity": "scheme:5967007LIEEXZXFOMO31",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:SharePremiumMember",
"unit": "iso4217:NOK"
}
},
"f7302": {
"value": "213000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:ComprehensiveIncome",
"entity": "scheme:5967007LIEEXZXFOMO31",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:MiscellaneousOtherReservesMember",
"unit": "iso4217:NOK"
}
},
"f7306": {
"value": "0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:ComprehensiveIncome",
"entity": "scheme:5967007LIEEXZXFOMO31",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:AdditionalPaidinCapitalMember",
"unit": "iso4217:NOK"
}
},
"f7310": {
"value": "0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:ComprehensiveIncome",
"entity": "scheme:5967007LIEEXZXFOMO31",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:ReserveOfExchangeDifferencesOnTranslationMember",
"unit": "iso4217:NOK"
}
},
"f7314": {
"value": "346056000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:ComprehensiveIncome",
"entity": "scheme:5967007LIEEXZXFOMO31",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:RetainedEarningsMember",
"unit": "iso4217:NOK"
}
},
"f7318": {
"value": "346268000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:ComprehensiveIncome",
"entity": "scheme:5967007LIEEXZXFOMO31",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:EquityAttributableToOwnersOfParentMember",
"unit": "iso4217:NOK"
}
},
"f7322": {
"value": "60682000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:ComprehensiveIncome",
"entity": "scheme:5967007LIEEXZXFOMO31",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:NoncontrollingInterestsMember",
"unit": "iso4217:NOK"
}
},
"f7326": {
"value": "406948000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:ComprehensiveIncome",
"entity": "scheme:5967007LIEEXZXFOMO31",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
"unit": "iso4217:NOK"
}
},
"f7335": {
"value": "3108000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:Equity",
"entity": "scheme:5967007LIEEXZXFOMO31",
"period": "2023-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:IssuedCapitalMember",
"unit": "iso4217:NOK"
}
},
"f7339": {
"value": "177275000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:Equity",
"entity": "scheme:5967007LIEEXZXFOMO31",
"period": "2023-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:SharePremiumMember",
"unit": "iso4217:NOK"
}
},
"f7343": {
"value": "-377000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:Equity",
"entity": "scheme:5967007LIEEXZXFOMO31",
"period": "2023-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:MiscellaneousOtherReservesMember",
"unit": "iso4217:NOK"
}
},
"f7347": {
"value": "629000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:Equity",
"entity": "scheme:5967007LIEEXZXFOMO31",
"period": "2023-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:AdditionalPaidinCapitalMember",
"unit": "iso4217:NOK"
}
},
"f7351": {
"value": "0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:Equity",
"entity": "scheme:5967007LIEEXZXFOMO31",
"period": "2023-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:ReserveOfExchangeDifferencesOnTranslationMember",
"unit": "iso4217:NOK"
}
},
"f7355": {
"value": "684167000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:Equity",
"entity": "scheme:5967007LIEEXZXFOMO31",
"period": "2023-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:RetainedEarningsMember",
"unit": "iso4217:NOK"
}
},
"f7359": {
"value": "864802000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:Equity",
"entity": "scheme:5967007LIEEXZXFOMO31",
"period": "2023-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:EquityAttributableToOwnersOfParentMember",
"unit": "iso4217:NOK"
}
},
"f7363": {
"value": "63245000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:Equity",
"entity": "scheme:5967007LIEEXZXFOMO31",
"period": "2023-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:NoncontrollingInterestsMember",
"unit": "iso4217:NOK"
}
},
"f7367": {
"value": "928047000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:Equity",
"entity": "scheme:5967007LIEEXZXFOMO31",
"period": "2023-01-01T00:00:00",
"unit": "iso4217:NOK"
}
},
"s9_changesinequity__8__24": {
"value": "9900000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:OtherComprehensiveIncomeNetOfTaxFinancialAssetsMeasuredAtFairValueThroughOtherComprehensiveIncome",
"entity": "scheme:5967007LIEEXZXFOMO31",
"period": "2021-01-01T00:00:00/2022-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:ReserveOfExchangeDifferencesOnTranslationMember",
"unit": "iso4217:NOK"
}
},
"s9_changesinequity__8__23": {
"value": "-9900000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:Equity",
"entity": "scheme:5967007LIEEXZXFOMO31",
"period": "2021-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:ReserveOfExchangeDifferencesOnTranslationMember",
"unit": "iso4217:NOK"
}
},
"s9_changesinequity__12__25": {
"value": "1",
"decimals": 2,
"dimensions": {
"concept": "ifrs-full:ProportionOfOwnershipInterestsHeldByNoncontrollingInterests",
"entity": "scheme:5967007LIEEXZXFOMO31",
"period": "2021-01-01T00:00:00/2022-01-01T00:00:00"
}
},
"pp-value-10-2": {
"value": "Note 1Eidesvik Offshore ASA (the Company) and its subsidiaries (collectively the Group) offer services within themaritime sector. The Group operates in several segments where the main segments are seismic, subsea andplatform supply vessel services. The Group\u2019s vessels are located across large parts of the world. Eidesvik Offshore ASA is a public limited company registered in Norway and headquartered at Langev\u00e5g inB\u00f8mlo municipality. Eidesvik Offshore ASA is listed at the Oslo Stock Exchange and is subject to the provisionsof the Public Limited Liability Companies Act with regards to limitations in shareholders\u2019 liability to theCompany\u2019s creditors. The annual accounts were submitted by the Board on April 26, 2023, and approved forpublication. The General Meeting approves the final annual accounts and is authorised to require changes tothe accounts before it is approved. All amounts are presented in Norwegian kroner (NOK) and are rounded tothe nearest thousand unless otherwise specified. Information on the ultimate parent company is presented in Note 24. ",
"dimensions": {
"concept": "ifrs-full:DisclosureOfGeneralInformationAboutFinancialStatementsExplanatory",
"language": "en",
"entity": "scheme:5967007LIEEXZXFOMO31",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"pp-value-11-3": {
"value": "Eidesvik Offshore ASA (the Company) and its subsidiaries (collectively the Group) offer services within themaritime sector. The Group operates in several segments where the main segments are seismic, subsea andplatform supply vessel services. The Group\u2019s vessels are located across large parts of the world. ",
"dimensions": {
"concept": "ifrs-full:DescriptionOfNatureOfEntitysOperationsAndPrincipalActivities",
"language": "en",
"entity": "scheme:5967007LIEEXZXFOMO31",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"pp-value-13-2": {
"value": "Overview of Group relations: Company Reg. office Owner shareEidesvik Shipping AS B\u00f8mlo 100% Eidesvik AS B\u00f8mlo 100% Eidesvik MPSV AS B\u00f8mlo 100% Eidesvik Shipping International AS B\u00f8mlo 100% Eidesvik Subsea Vessels AS B\u00f8mlo 100% Eidesvik Management AS B\u00f8mlo 100% Eidesvik Maritime AS B\u00f8mlo 100% Eidesvik Neptun AS B\u00f8mlo 74.75% Eidesvik Neptun II AS B\u00f8mlo 74.75% Eidesvik Supply AS B\u00f8mlo 100% Hordaland Maritime Milj\u00f8selskap AS B\u00f8mlo 91% Norsk Rederihelsetjeneste AS B\u00f8mlo 100% Eidesvik Shipping II AS B\u00f8mlo 100% Eidesvik UK LTD UK 100% a) Subsidiaries Subsidiaries are all entities where the Group has controlling influence on the entity\u2019s financial and operationalstrategy, normally through owning more than half the voting capital. When determining whether there iscontrolling influence, one includes the effect of potential voting rights which can be exercised or converted onthe balance sheet date. Subsidiaries are consolidated from the time control is transferred to the Group, andare excluded from consolidation when control ceases. Stocks and shares in subsidiaries are recorded at costand eliminated against the equity of the subsidiary at the time of takeover or establishment. NOTE 7 \u2013 INVESTMENTS IN JOINT VENTURES AND ASSOCIATED COMPANIESWITH MINORITY INTERESTS Subsidiaries with substantial minority interests The Group has two subsidiaries where there are substantial minority interests. Of companies with minorityinterests, only the companies below are considered material. 2022: Entity Country Minority interests (%) Minority share of profit/loss Norway 25,25 % 54 738 Eidesvik Neptun AS Norway 25,25 % 5 942 Eidesvik Neptun II AS 60 680 2021: Entity Country Minority interests (%) Minority share of profit/loss Norway 19,89 % -1 897 Eidesvik Supply AS * Norway 25,25 % 48 673 Eidesvik Neptun AS Norway 25,25 % -292 Eidesvik Neptun II AS 46 482 * The Group has in September 2021 bought out the the minority owners, and the minority share of profit/loss isper August 31, 2021. Summary of financial information for subsidiaries with substantial minority interests: 2022: Entity Assets Non-current Current Of which Equity Liabilities Long-term Short-termassets assets bank 298 519 0 298 519 29 149 250 136 48 383 0 48 383Eidesvik Neptun AS 83 693 0 83 693 51 715 88 83 605 0 83 605Eidesvik Neptun II AS Entity Revenue EBITDA Depr. / Financial Financial Net financial Taxes Profit/loss forimpairment income expenses items the year395 021 368 005 0 1 096 152 340 -151 244 0 216 761Eidesvik Neptun AS 157 396 2 071 0 545 57 488 0 2 558Eidesvik Neptun II AS 2021: Entity Assets Non-current Current Of which Equity Liabilities Long-term Short-termassets assets bank 196 773 170 667 26 105 3 442 1 207 195 566 132 329 63 236Eidesvik Supply AS 1 016 679 944 775 71 904 1 345 33 473 983 206 942 107 41 099Eidesvik Neptun AS 76 003 0 76 003 34 788 -24 207 100 209 0 100 209Eidesvik Neptun II AS Entity Revenue EBITDA Depr. / Financial Financial Net financial Taxes Profit/loss forimpairment income expenses items the year41 047 7 564 14 781 27 12 931 -12 904 0 -20 121Eidesvik Supply AS 103 727 86 240 -165 581 26 59 109 -59 082 0 192 739Eidesvik Neptun AS 128 095 -4 942 0 3 476 382 3 094 0 -1 848Eidesvik Neptun II AS ",
"dimensions": {
"concept": "ifrs-full:DisclosureOfSignificantInvestmentsInSubsidiariesExplanatory",
"language": "en",
"entity": "scheme:5967007LIEEXZXFOMO31",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"pp-value-13-3": {
"value": "Overview of Group relations: Company Reg. office Owner shareEidesvik Shipping AS B\u00f8mlo 100% Eidesvik AS B\u00f8mlo 100% Eidesvik MPSV AS B\u00f8mlo 100% Eidesvik Shipping International AS B\u00f8mlo 100% Eidesvik Subsea Vessels AS B\u00f8mlo 100% Eidesvik Management AS B\u00f8mlo 100% Eidesvik Maritime AS B\u00f8mlo 100% Eidesvik Neptun AS B\u00f8mlo 74.75% Eidesvik Neptun II AS B\u00f8mlo 74.75% Eidesvik Supply AS B\u00f8mlo 100% Hordaland Maritime Milj\u00f8selskap AS B\u00f8mlo 91% Norsk Rederihelsetjeneste AS B\u00f8mlo 100% Eidesvik Shipping II AS B\u00f8mlo 100% Eidesvik UK LTD UK 100% Joint Ventures: Eidesvik Seven AS B\u00f8mlo 50%Eidesvik Seven Chartering AS B\u00f8mlo 50%Please refer to Note 7 for further information. In addition, the Group owns the following shares: Simsea Holding AS Haugesund 10.4% Bleivik Eiendom AS Haugesund 22.6% Eidesvik Ghana Ltd. Ghana 49% The total book value of these amounts to MNOK 3.1 and is not considered material. Please refer to Note 21for further information. ",
"dimensions": {
"concept": "ifrs-full:DisclosureOfCompositionOfGroupExplanatory",
"language": "en",
"entity": "scheme:5967007LIEEXZXFOMO31",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"pp-value-13-4": {
"value": "Overview of Group relations: Company Reg. office Owner shareEidesvik Shipping AS B\u00f8mlo 100% Eidesvik AS B\u00f8mlo 100% Eidesvik MPSV AS B\u00f8mlo 100% Eidesvik Shipping International AS B\u00f8mlo 100% Eidesvik Subsea Vessels AS B\u00f8mlo 100% Eidesvik Management AS B\u00f8mlo 100% Eidesvik Maritime AS B\u00f8mlo 100% Eidesvik Neptun AS B\u00f8mlo 74.75% Eidesvik Neptun II AS B\u00f8mlo 74.75% Eidesvik Supply AS B\u00f8mlo 100% Hordaland Maritime Milj\u00f8selskap AS B\u00f8mlo 91% Norsk Rederihelsetjeneste AS B\u00f8mlo 100% Eidesvik Shipping II AS B\u00f8mlo 100% Eidesvik UK LTD UK 100% Joint Ventures: Eidesvik Seven AS B\u00f8mlo 50%Eidesvik Seven Chartering AS B\u00f8mlo 50%Please refer to Note 7 for further information. In addition, the Group owns the following shares: Simsea Holding AS Haugesund 10.4% Bleivik Eiendom AS Haugesund 22.6% Eidesvik Ghana Ltd. Ghana 49% The total book value of these amounts to MNOK 3.1 and is not considered material. Please refer to Note 21for further information. NOTE 7 \u2013 INVESTMENTS IN JOINT VENTURES AND ASSOCIATED COMPANIESWITH MINORITY INTERESTS (NOK thousands) The Eidesvik Offshore ASA Group has the following investments in joint ventures: Entity Country Industry Ownership/ Book value Share of Translation Dividends Addition / Assets Book valuevoting 31.12.2021 profit 2022 differences disposal held for 31.12.2022share sale Eidesvik Seven Norway Shipping 50,0 % AS 132 157 -10 718 0 0 0 0 121 439Eidesvik Seven Norway Shipping 50,0 % Chartering AS 15 368 1 075 0 0 0 0 16 443Total 147 526 -9 644 0 0 0 0 137 882Entity Country Industry Ownership/ Book value Share of Translation Dividends Addition / Assets Book valuevoting 31.12.2020 profit 2021 differences disposal held for 31.12.2021share sale Eidesvik Seven Norway Shipping 50,0 % AS 140 843 -8 686 0 0 0 0 132 157Eidesvik Seven Norway Shipping 50,0 % Chartering AS 13 473 1 895 0 0 0 0 15 368Total 154 316 -6 790 0 0 0 0 147 525Eidesvik Seven AS and Eidesvik Seven Chartering AS are classified as joint ventures, as Subsea 7 Norge AS and Eidesvik each own 50% of the shares in the company. Eidesvik Shipping AS is guarantor for 50% of the debt in Eidesvik Seven AS. Summary of financial information for the joint ventures: 2022: Entity Assets Non-current Current Of this Equity Liabilities Long-term Short-term assets assets bank Eidesvik Seven 504 647 485 355 19 292 9 341 471 242 877 261 770 255 589 6 182 AS Eidesvik Seven 54 726 0 54 726 31 323 32 886 21 839 0 21 839 Chartering AS Entity Revenue EBITDA Depr. / Financial Financial Net Taxes Profit/loss Group impairment income expenses financial for the year share items Eidesvik Seven 31 290 29 801 37 851 87 13 473 -13 387 0 -21 437 AS -10 718 Eidesvik Seven 107 790 2 546 0 394 18 376 650 2 272 Chartering AS 1 075 -9 644 2021: Entity Assets Non-current Current Of this Equity Liabilities Long-term Short-term assets assets bank Eidesvik Seven 533 325 518 708 14 616 182 264 314 269 011 266 918 2 093 AS Eidesvik Seven 58 675 0 58 675 29 906 30 737 27 938 0 27 938 Chartering AS Entity Revenue EBITDA Depr. / Financial Financial Net Taxes Profit/loss Group impairment income expenses financial for the year share items Eidesvik Seven 32 393 31 138 37 346 0 11 164 -11 164 0 -17 371 AS -8 686 Eidesvik Seven 103 848 3 769 0 22 1 22 0 3 791 Chartering AS 1 895 -6 790 Associated companies The group has the following investments in these individual associated companies: 2022: Entity Country Ownership/ voting Book value Result portionshare 31.12.2021 Norway 10,37 % 0 0Simsea Holding AS Norway 22,59 % 3 118 523Bleivik Eiendom AS Ghana 49,00 % 0 0Eidesvik Ghana Ltd. 3 118 5232021: Entity Country Ownership/ voting Book value Result portionshare 31.12.2021 Norway 10,37 % 0 0Simsea Holding AS Norway 22,59 % 2 595 1 940Bleivik Eiendom AS Ghana 49,00 % 0 -1 065Eidesvik Ghana Ltd. 2 595 874Refer to note 21, other shares. Subsidiaries with substantial minority interests The Group has two subsidiaries where there are substantial minority interests. Of companies with minorityinterests, only the companies below are considered material. 2022: Entity Country Minority interests (%) Minority share of profit/loss Norway 25,25 % 54 738 Eidesvik Neptun AS Norway 25,25 % 5 942 Eidesvik Neptun II AS 60 680 2021: Entity Country Minority interests (%) Minority share of profit/loss Norway 19,89 % -1 897 Eidesvik Supply AS * Norway 25,25 % 48 673 Eidesvik Neptun AS Norway 25,25 % -292 Eidesvik Neptun II AS 46 482 * The Group has in September 2021 bought out the the minority owners, and the minority share of profit/loss isper August 31, 2021. Summary of financial information for subsidiaries with substantial minority interests: 2022: Entity Assets Non-current Current Of which Equity Liabilities Long-term Short-termassets assets bank 298 519 0 298 519 29 149 250 136 48 383 0 48 383Eidesvik Neptun AS 83 693 0 83 693 51 715 88 83 605 0 83 605Eidesvik Neptun II AS Entity Revenue EBITDA Depr. / Financial Financial Net financial Taxes Profit/loss forimpairment income expenses items the year395 021 368 005 0 1 096 152 340 -151 244 0 216 761Eidesvik Neptun AS 157 396 2 071 0 545 57 488 0 2 558Eidesvik Neptun II AS 2021: Entity Assets Non-current Current Of which Equity Liabilities Long-term Short-termassets assets bank 196 773 170 667 26 105 3 442 1 207 195 566 132 329 63 236Eidesvik Supply AS 1 016 679 944 775 71 904 1 345 33 473 983 206 942 107 41 099Eidesvik Neptun AS 76 003 0 76 003 34 788 -24 207 100 209 0 100 209Eidesvik Neptun II AS Entity Revenue EBITDA Depr. / Financial Financial Net financial Taxes Profit/loss forimpairment income expenses items the year41 047 7 564 14 781 27 12 931 -12 904 0 -20 121Eidesvik Supply AS 103 727 86 240 -165 581 26 59 109 -59 082 0 192 739Eidesvik Neptun AS 128 095 -4 942 0 3 476 382 3 094 0 -1 848Eidesvik Neptun II AS NOTE 21 - OTHER SHARES (NOK thousands) Shares Entity Country Industry Ownership/voting Book value Book value share 31.12.2022 31.12.2021 Training Simsea Holding AS Norway 10,4 % 0 0 Real estate Bleivik Eiendom AS Norway 22,6 % 3 118 2 595 Shipping Eidesvik Ghana Ltd. Ghana 49,0 % 0 0 Total 3 118 2 595 Simsea is a simulation centre for training nautical personnel. Bleivik Eiendom AS leases out properties tocompanies conducting safety training for maritime personnel. Simsea Holding AS was written down to NOK 0 because of the bankruptcy of Simsea AS in the winter of 2017.Eidesvik Ghana Ltd has been written down to NOK 0 based on the probability of getting the funds out of Ghana.The investments are valued by the equity method. Refer to note 7. ",
"dimensions": {
"concept": "ifrs-full:DisclosureOfInterestsInOtherEntitiesExplanatory",
"language": "en",
"entity": "scheme:5967007LIEEXZXFOMO31",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"pp-value-14-4": {
"value": "Joint Ventures: Eidesvik Seven AS B\u00f8mlo 50%Eidesvik Seven Chartering AS B\u00f8mlo 50%Please refer to Note 7 for further information. b) Associates/Joint ventures The Group\u2019s investment in its associates and joint ventures are accounted for under the equity method ofaccounting. An associate is an entity in which the Group has significant influence, but which is not a subsidiary.A joint arrangement is either a joint operation or a joint venture. Companies where the Group has joint controlwith another party, are defined as joint ventures, as it has rights to the net assets of the arrangement. Jointventures exist if there is 50/50 ownership, or if it is otherwise regulated so that the parties have joint control. The Group does not capitalise its share of deficits if this means that the capitalised value of the investment will be negative (including unhedged receivables on the entity), unless the Group has assumed liabilities or provided guarantees for the joint venture\u2019s liabilities. NOTE 7 \u2013 INVESTMENTS IN JOINT VENTURES AND ASSOCIATED COMPANIESWITH MINORITY INTERESTS (NOK thousands) The Eidesvik Offshore ASA Group has the following investments in joint ventures: Entity Country Industry Ownership/ Book value Share of Translation Dividends Addition / Assets Book valuevoting 31.12.2021 profit 2022 differences disposal held for 31.12.2022share sale Eidesvik Seven Norway Shipping 50,0 % AS 132 157 -10 718 0 0 0 0 121 439Eidesvik Seven Norway Shipping 50,0 % Chartering AS 15 368 1 075 0 0 0 0 16 443Total 147 526 -9 644 0 0 0 0 137 882Entity Country Industry Ownership/ Book value Share of Translation Dividends Addition / Assets Book valuevoting 31.12.2020 profit 2021 differences disposal held for 31.12.2021share sale Eidesvik Seven Norway Shipping 50,0 % AS 140 843 -8 686 0 0 0 0 132 157Eidesvik Seven Norway Shipping 50,0 % Chartering AS 13 473 1 895 0 0 0 0 15 368Total 154 316 -6 790 0 0 0 0 147 525Eidesvik Seven AS and Eidesvik Seven Chartering AS are classified as joint ventures, as Subsea 7 Norge AS and Eidesvik each own 50% of the shares in the company. Eidesvik Shipping AS is guarantor for 50% of the debt in Eidesvik Seven AS. Summary of financial information for the joint ventures: 2022: Entity Assets Non-current Current Of this Equity Liabilities Long-term Short-term assets assets bank Eidesvik Seven 504 647 485 355 19 292 9 341 471 242 877 261 770 255 589 6 182 AS Eidesvik Seven 54 726 0 54 726 31 323 32 886 21 839 0 21 839 Chartering AS Entity Revenue EBITDA Depr. / Financial Financial Net Taxes Profit/loss Group impairment income expenses financial for the year share items Eidesvik Seven 31 290 29 801 37 851 87 13 473 -13 387 0 -21 437 AS -10 718 Eidesvik Seven 107 790 2 546 0 394 18 376 650 2 272 Chartering AS 1 075 -9 644 2021: Entity Assets Non-current Current Of this Equity Liabilities Long-term Short-term assets assets bank Eidesvik Seven 533 325 518 708 14 616 182 264 314 269 011 266 918 2 093 AS Eidesvik Seven 58 675 0 58 675 29 906 30 737 27 938 0 27 938 Chartering AS Entity Revenue EBITDA Depr. / Financial Financial Net Taxes Profit/loss Group impairment income expenses financial for the year share items Eidesvik Seven 32 393 31 138 37 346 0 11 164 -11 164 0 -17 371 AS -8 686 Eidesvik Seven 103 848 3 769 0 22 1 22 0 3 791 Chartering AS 1 895 -6 790 ",
"dimensions": {
"concept": "ifrs-full:DisclosureOfJointVenturesExplanatory",
"language": "en",
"entity": "scheme:5967007LIEEXZXFOMO31",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"pp-value-15-4": {
"value": "In addition, the Group owns the following shares: Simsea Holding AS Haugesund 10.4% Bleivik Eiendom AS Haugesund 22.6% Eidesvik Ghana Ltd. Ghana 49% The total book value of these amounts to MNOK 3.1 and is not considered material. Please refer to Note 21for further information. b) Associates/Joint ventures The Group\u2019s investment in its associates and joint ventures are accounted for under the equity method ofaccounting. An associate is an entity in which the Group has significant influence, but which is not a subsidiary.A joint arrangement is either a joint operation or a joint venture. Companies where the Group has joint controlwith another party, are defined as joint ventures, as it has rights to the net assets of the arrangement. Jointventures exist if there is 50/50 ownership, or if it is otherwise regulated so that the parties have joint control. The Group does not capitalise its share of deficits if this means that the capitalised value of the investment will be negative (including unhedged receivables on the entity), unless the Group has assumed liabilities or provided guarantees for the joint venture\u2019s liabilities. Associated companies The group has the following investments in these individual associated companies: 2022: Entity Country Ownership/ voting Book value Result portionshare 31.12.2021 Norway 10,37 % 0 0Simsea Holding AS Norway 22,59 % 3 118 523Bleivik Eiendom AS Ghana 49,00 % 0 0Eidesvik Ghana Ltd. 3 118 5232021: Entity Country Ownership/ voting Book value Result portionshare 31.12.2021 Norway 10,37 % 0 0Simsea Holding AS Norway 22,59 % 2 595 1 940Bleivik Eiendom AS Ghana 49,00 % 0 -1 065Eidesvik Ghana Ltd. 2 595 874Refer to note 21, other shares. NOTE 21 - OTHER SHARES (NOK thousands) Shares Entity Country Industry Ownership/voting Book value Book value share 31.12.2022 31.12.2021 Training Simsea Holding AS Norway 10,4 % 0 0 Real estate Bleivik Eiendom AS Norway 22,6 % 3 118 2 595 Shipping Eidesvik Ghana Ltd. Ghana 49,0 % 0 0 Total 3 118 2 595 Simsea is a simulation centre for training nautical personnel. Bleivik Eiendom AS leases out properties tocompanies conducting safety training for maritime personnel. Simsea Holding AS was written down to NOK 0 because of the bankruptcy of Simsea AS in the winter of 2017.Eidesvik Ghana Ltd has been written down to NOK 0 based on the probability of getting the funds out of Ghana.The investments are valued by the equity method. Refer to note 7. ",
"dimensions": {
"concept": "ifrs-full:DisclosureOfSignificantInvestmentsInAssociatesExplanatory",
"language": "en",
"entity": "scheme:5967007LIEEXZXFOMO31",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"pp-value-16-2": {
"value": "NOTE 2 \u2013 ACCOUNTING PRINCIPLES The most important accounting principles used in the preparation of the consolidated accounts are describedbelow. These principles are applied in the same way in all periods presented, unless otherwise stated in thedescription. 2.1 Main principles The consolidated accounts of the Eidesvik Offshore Group have been prepared in accordance with InternationalFinancial Reporting Standards (IFRS), as adopted by the EU, and interpretations adopted by the InternationalAccounting Standards Board (IASB). The consolidated accounts have been prepared on the basis of the historical cost principle, however, it hasbeen modified for the following: financial derivatives and financial assets classified as \u201cfair value through theprofit and loss account\u201d, which have been valuated at fair value. An asset is presented as short-term if it is expected to be realised within twelve months of the balance sheetdate as part of ordinary operations, if it is an asset owned with purchase and sale as its main purpose, or if itis cash or cash equivalents. Debt is presented as short-term if there is no unconditional right to postpone payment at least twelve monthsfrom the balance sheet date, or it is a debt with purchase and sale as its main purpose. Long-term debt isreclassified as short-term debt when there are 12 months left to maturity. The same applies to the first year\u2019srepayment on long-term debt maturing within twelve months from the balance sheet date. The accounts are prepared in accordance with IFRS. This means that the management has used estimates andassumptions that have affected assets, debt, income, expenses, and information on potential liabilities. Cash flow statements are prepared according to the direct method. 2.2 Principles of consolidation The consolidated accounts include parent company Eidesvik Offshore ASA and companies controlled byEidesvik Offshore ASA. Control is obtained when the Group is exposed to, or is entitled to, variable returnresulting from the Group\u2019s involvement, and the Group is able to influence the return through its influence inthe Company. a) Subsidiaries Subsidiaries are all entities where the Group has controlling influence on the entity\u2019s financial and operationalstrategy, normally through owning more than half the voting capital. When determining whether there iscontrolling influence, one includes the effect of potential voting rights which can be exercised or converted onthe balance sheet date. Subsidiaries are consolidated from the time control is transferred to the Group, andare excluded from consolidation when control ceases. Stocks and shares in subsidiaries are recorded at costand eliminated against the equity of the subsidiary at the time of takeover or establishment. b) Associates/Joint ventures The Group\u2019s investment in its associates and joint ventures are accounted for under the equity method ofaccounting. An associate is an entity in which the Group has significant influence, but which is not a subsidiary.A joint arrangement is either a joint operation or a joint venture. Companies where the Group has joint controlwith another party, are defined as joint ventures, as it has rights to the net assets of the arrangement. Jointventures exist if there is 50/50 ownership, or if it is otherwise regulated so that the parties have joint control. The Group does not capitalise its share of deficits if this means that the capitalised value of the investment will be negative (including unhedged receivables on the entity), unless the Group has assumed liabilities or provided guarantees for the joint venture\u2019s liabilities. c) Non-controlling interests Non-controlling interests\u2019 (minority interests) share of the equity is shown on a separate line in the Group\u2019sequity. Non-controlling interests include the minority share of the capitalised value of subsidiaries, includingthe share of identifiable added value at the time of acquisition of a subsidiary. 2.3 Segment Information Segments are reported in the same way as for reporting to the Company\u2019s supreme decision maker. The Boardis defined as the Company\u2019s supreme decision maker, and is responsible for allocating resources andassessment of earnings in the various segments. The Group\u2019s reporting format is associated with businessareas, secondary information associated with geographical areas is not used, as this does not make sensestrategically. The three primary operating segments are divided into Supply vessels (PSV), Subsea/Wind, andSeismic. In addition to this, other activities, which includes, among other things, vessels under construction, isplaced in a separate segment. As the joint ventures are significant with regard to the core activities, gross figures from underlying companiesare included in segment information. 2.4 Conversion of foreign currencies a) Functional currency and presentation currency The accounts of the individual entities in the Group are measured in the currency mainly used in the economicarea where the entity operates (functional currency). The consolidated accounts are presented in Norwegiankroner (NOK), which is both the functional currency and the presentation currency of the parent company. Inorder to calculate the share of profit from joint ventures, balance sheet figures in a different currency aretranslated at the exchange rate of the balance sheet date, while profit and loss items are translated at thequarterly average exchange rate. Translation differences are recognised as other income or costs directly inthe equity. b) Transactions and balance sheet items Transactions in foreign currencies are translated to the functional currency using the transaction exchangerate. Currency gain and loss occurring when paying such transactions, and when translating monetary items(assets and liabilities) in foreign currencies at year end on the balance sheet date, are recognised. Monetaryitems and liabilities in other currencies are translated at the exchange rate of the balance sheet date. Currencygains and losses are included in the income statement as \u201cNet currency gain/loss\u201d. 2.5 Vessels, depreciation and other fixed assets Vessels and other fixed assets are recognised at historical cost minus accumulated depreciation andimpairments. Each part of the asset that has material share of the total cost is depreciated separately andlinearly over the useful life of the asset. Components with the same useful life are depreciated as onecomponent. The depreciation period and method are evaluated at each balance sheet date to ensure that themethod and the period used correspond with the financial realities for the asset. The same applies to scrapvalue, which is subject to an annual assessment. Estimated useful life: Vessels 15-30 years Property/fixtures 5-20 years Equipment 3-5 years Periodic maintenance 30-60 months Port facilities N/A At the time of delivery for new vessels, an amount corresponding to the expected cost at the first ordinaryclassification/periodic maintenance is separated. This amount is depreciated over the period until the nextdocking date. Costs associated with subsequent periodic maintenance are capitalised and depreciated until thenext periodic maintenance, generally over 30\u201360 months. Costs of ongoing maintenance and minor repairs andmaintenance are expensed as they incur. 2.6 Assets held for sale Non-current assets held for sale consist of vessels that have been decided to be disposed of, by sale or otherwise. Noncurrent assets classified as held for sale are measured at the lower of their previous carrying amount and their fair value less costs of disposal. Any excess of the carrying amount over the fair value lesscost of disposal is recognized as an impairment loss. Depreciation of such assets is discontinued as from their classification as held for sale. Leases The Group assesses at contract inception whether a contract is, or contains, a lease. That is, if the contractconveys the right to control the use of an identified asset for a period of time in exchange for consideration. Group as a lessee The Group applies a single recognition and measurement approach for all leases, except for short-term leasesand leases of low-value assets. The Group 9ecognized lease liabilities to make lease payments and right-of-use assets representing the right to use the underlying assets. i)Right-of-use assets The Group 9ecognized right-of-use assets at the commencement date of the lease (i.e., the date the underlyingasset is available for use). Right-of-use assets are measured at cost, less any accumulated depreciation andimpairment losses, and adjusted for any remeasurement of lease liabilities. The cost of right-of-use assetsincludes the amount of lease liabilities 9ecognized, initial direct costs incurred, and lease payments made ator before the commencement date less any lease incentives received. Right-of-use assets are depreciated ona straight-line basis over the shorter of the lease term and the estimated useful life of the assets, as follows: Buildings 0,5-32 years Vehicles 8-17 months If ownership of the leased asset transfers to the Group at the end of the lease term or the cost reflects theexercise of a purchase option, depreciation is calculated using the estimated useful life of the asset. ii) Lease liabilities At the commencement date of the lease, the Group recognises lease liabilities measured at the present valueof lease payments to be made over the lease term. The lease payments include fixed payments (includinginsubstance fixed payments) less any lease incentives receivable, variable lease payments that depend on anindex or a rate, and amounts expected to be paid under residual value guarantees. The lease payments alsoinclude the exercise price of a purchase option reasonably certain to be exercised by the Group and paymentsof penalties for terminating the lease, if the lease term reflects the Group exercising the option to terminate.Variable lease payments that do not depend on an index or a rate are recognised as expenses (unless they areincurred to produce inventories) in the period in which the event or condition that triggers the payment occurs.In calculating the present value of lease payments, the Group uses its incremental borrowing rate at the leasecommencement date because the interest rate implicit in the lease is not readily determinable. After thecommencement date, the amount of lease liabilities is increased to reflect the accretion of interest and reducedfor the lease payments made. In addition, the carrying amount of lease liabilities is remeasured if there is amodification, a change in the lease term, a change in the lease payments (e.g., changes to future paymentsresulting from a change in an index or rate used to determine such lease payments) or a change in theassessment of an option to purchase the underlying asset. iii) Short-term leases and leases of low-value assets The Group applies the short-term lease recognition exemption to its short-term leases of machinery andequipment (i.e. those leases that have a lease term of 12 months or less from the commencement date and donot contain a purchase option). It also applies the lease of low-value assets recognition exemption to leases ofoffice equipment that are considered to be low value. Lease payments on short-term leases and leases of low-value assets are recognised as expense on a straight-line basis over the lease term. Group as a lessor Leases in which the Group does not transfer substantially all the risks and rewards incidental to ownership ofan asset are classified as operating leases. Rental income arising is accounted for on a straight-line basis overthe lease terms and is included in revenue in the statement of profit or loss due to its operating nature. Initialdirect costs incurred in negotiating and arranging an operating lease are added to the carrying amount of theleased asset and recognised over the lease term on the same basis as rental income. Contingent rents arerecognised as revenue in the period in which they are earned. 2.7 Impairment of fixed assets The book value of tangible fixed assets is assessed for impairment when events or changes in circumstancesindicate that book value cannot be recovered. If such indications are discovered, and the book value exceedsthe recoverable amount, the asset is impaired to the recoverable amount, which for tangible fixed assets is thehigher of expected net sales price and value in use. Value in use is calculated as the present value of futurecash flows. If the reason for the impairment lapses at a later time, and the lapse can be tied to an event takingplace after the impairment is recognised, the previous impairment is reversed. 2.8 Sale of vessels Profit or loss on the sale of vessels is recorded on the line of other income.2.9 New builds Vessels under construction are capitalised as instalments are paid, along with costs directly associated withthe construction, such as supervision, other construction costs and interest on external financing during theconstruction period. The capitalised value is reclassified to vessels when the vessel is delivered from theshipyard and is ready for use. Depreciation of vessels starts on the same date. 2.10 Financial assets Financial assets are classified, at initial recognition, as subsequently measured at amortised cost, fair valuethrough other comprehensive income (OCI), and fair value through profit or loss. Fair value through othercomprehensive income (OCI) is not relevant for the Group. The Group uses derivatives such as currency contracts and interest swaps to reduce the risk associated withcurrency and interest rate fluctuations. The derivatives are presented as an asset with a positive value or aliability with a negative value. a) Financial assets at fair value through profit and lossA financial asset is classified in this category if it is acquired primarily to make a profit from short-term pricefluctuations, or if the management chooses to classify it in this category. Derivatives are also classified as \u2018heldfor trading\u2019. Assets in this category are classified as current assets if they are held for trading or if they areexpected to be realised within 12 months after the balance sheet date. Profit or loss from changes in fair value of assets classified as \u201cfinancial assets at fair value through profit andloss\u201d, including interest income and dividends, is included in the income statement under \u201cchange in value,derivatives\u201d in the period where they occur. b) Financial assets at amortised costIn order for a financial asset to be classified and measured at amortised cost or fair value through OCI, it needsto give rise to cash flows that are \u201csolely payments of principal and interest\u201d (\u201cSPPI\u201d) on the principal amountoutstanding. This assessment is referred to as the SPPI test and is performed at an instrument level. Financialassets with cash flows that are not SPPI are classified and measured at fair value through profit or loss,irrespective of the business model. Loans and receivables are non-derivative financial assets with fixedpayments that are not traded on an active market. They are classified as current assets, unless they maturemore than 12 months after the balance sheet date. In such cases, they are classified as non-current assets.Loans and receivables are classified as accounts receivable and other receivables on the balance sheet. Ordinary acquisitions and sales of investments are recognised at the date of the transaction. All financial assetsthat are not recognised at fair value through profit and loss are initially recorded at fair value plus transactioncosts. The exception is accounts receivable, which are recognised for the first time at the transaction price inaccordance with IFRS 15, ref. IFRS 9.1.5.3. Financial assets recognised at fair value through profit and lossare recognised on acquisition at fair value and transaction costs are posted to expenses. Investments areremoved from the balance sheet when the entitlement to cash flows from the investments cease, or when suchentitlement is transferred and the Group has basically transferred all risk and all potential profit from ownership.Financial assets available for sale and financial assets at fair value through the profit and loss account arevaluated at fair value after the first recognition. Loans and receivables are recognised at amortised cost usingthe effective interest method. The Group recognises an allowance for expected credit losses (ECLs) for all debt Instruments not held at fairvalue through profit or loss. ECLs are based on the difference between the contractual cash flows due inaccordance with the contract and all the cash flows that the Group expects to receive, discounted at anapproximation of the original effective interest rate. The expected cash flows will include cash flows from thesale of collateral held or other credit enhancements that are integral to the contractual terms. 2.11 Derivatives and hedging The Group does not use accounting hedging, and none of the Group\u2019s derivatives are designated hedginginstruments. The Group recognises derivatives at fair value with value changes through profit/loss. The purposeof the derivatives is to secure the Group\u2019s cash flow against fluctuations in interest and exchange rates. Referto Note 23 for an overview of the Group\u2019s derivatives at 31.12.2022. 2.12 Accounts receivable Accounts receivable are measured the first time at the transaction price in accordance with IFRS 15. Forsubsequent measurements, accounts receivable is assessed at amortised cost determined by using theeffective interest method, less provision for expected loss. The Group has chosen to apply the practicalsimplification approach to calculate losses on accounts receivable. The group has established a provisionmodel that is based on historical credit loss experience, adjusted for forward-looking factors specific to thedebtors and the economic environment. The group has historical had minor losses on trade receivables. SeeNotes 3 and 14. 2.13 Cash and cash equivalents Cash and cash equivalents consist of cash, bank deposits, and other short-term and easily negotiable investments with a maximum of three months\u2019 original maturity and overdraft facilities. In the balance sheet,overdraft facilities are included in loans under short-term liabilities. 2.14 Share capital Ordinary shares are classified as share capital. Expenses directly associated with issuing new shares or options with tax deductions, are recorded as reductionin received consideration in equity (premium on shares). 2.15 Accounts payable Payables are measured at fair value at the first recognition. For subsequent measurements, payables areassessed at amortised cost determined by using the effective interest method. 2.16 Loans Loans are recognised at the accrued amount when the loan is disbursed, less transaction costs. In subsequentperiods, loans are recognised at amortised cost using the effective interest method. The difference betweenthe disbursed loan amount (minus transaction costs) and the redemption value is recognised over the term ofthe loan. When loans are renegotiated, a view is taken as to whether the renegotiated loan should be treated as acontinuation of the old loan or as a new loan (IFRS 9.3.3.1-9.3.3.3). The main rule of IFRS 9.3.3.1 is that afinancial liability should only be derecognised in cases where the liabilities specified in the contract have beendischarged, cancelled or expired. When a company has its debts renegotiated without a change of lender,however, the old loan is derecognised and a new loan recognised if the renegotiation involves significantchanges in the conditions related to the debt. If there are no significant changes, the difference between thepresent value of the modified cash flow and the original amortised cost is recognised through profit/loss (seeNote 8). 2.17 Pension liabilities, bonus schemes and other compensation schemes for employees a) Pension liabilities The companies in the Group have different pension schemes. Pension schemes are mainly financed throughpayments to insurance companies or pension funds. The Group\u2019s pension schemes are a defined contributionscheme and a defined benefit plan. A defined benefit plan is typically a pension scheme which defines a pensionpayment an employee will receive on retirement. Pension payments normally depend on several factors, suchas age, number of years in the company, and salary. The recognised liability associated with a defined benefit plan is the present value of the defined benefit on thebalance sheet date minus the fair value of the pension funds (in cases where the scheme is hedged). Thepension liability is calculated annually by an independent actuary using a linear accrual method. The presentvalue of the defined benefit is determined by discounting estimated future disbursements based on the intereston corporate bonds with high credit rating using OMF interest rates. Changes in benefits from the pension plan are recorded as income or charged to expenses on an ongoing basis,unless the rights under the new pension scheme are conditional on the employee remaining in service for aspecified period in the vesting period. In this case the cost associated with the changed benefit is amortisedon a linear basis over the vesting period. b) Bonus agreements and severance pay In some cases, employment agreements are made which give the right to bonus in relation to fulfilment ofdefined financial and non-financial criteria, as well as agreements which give the right to severance pay if theemployer terminates the employment. The Group raises provisions in cases where there is a formal obligationto make disbursements. 2.18 Provisions The Group raises provisions for environmental improvements and legal requirements when: There is a statutoryor self-imposed obligation arising from previous events, there is a strong likelihood that the obligation will haveto be met in the form of a transfer of financial resources, and the size of the obligation can be estimated witha sufficient degree of reliability. In cases where there is more than one obligation of the same nature, the probability of the obligation having tobe met will be determined by assessing the group as a whole. Provisions for the Group are raised even thoughthe probability of settlement with regard to the individual elements in the group is low. Provisions are measured at present value of expected disbursements to fulfil the obligation. A discount ratebefore tax is used which reflects the current market situation and risk specific to the obligation. The increasein the obligation due to changes in time value is recorded as interest expenses. 2.19 Income and expense recognition principles Income from the sale of goods and services is measured at fair value, net of commission, rebates and discounts.Intragroup sales are eliminated. Income is recognised as follows: a) Sale of services Except for the seismic fleet, most of the Group\u2019s vessels have been contracted on time charters (TC) throughoutthe year. This means that the charter is agreed as a lease of a vessel with crew. The charterer decides (withinagreed limitations) how the vessel is to be used. The time charter lapses in periods when the vessel is notoperational (is \u201coff hire\u201d), e.g. during repairs. The shipping company pays for the crew, supplies, insurance,repairs, administration, etc., while the charterer pays the \u201cvoyage-dependent\u201d expenses such as bunkers, portfees and expenses for loading and unloading. In addition to leasing the vessel, there may be agreements for additional services in the form of hiring extracrew, sale of provisions and coverage of other operating expenses. Lease income for leasing vessels is recognised on a linear basis through the lease period. The lease periodstarts from the date when the vessel is at the lessee\u2019s disposal, and ends with its agreed return. Lease of crew and payments to cover other operating expenses are recognised on a linear basis through thecontract period When a contract is cancelled, the remaining contract is recorded as income when the vessel is returned. b) Interest income Interest income is recognised proportionally over time in accordance with the effective interest method. Whenreceivables are written down, the capitalised value is reduced to the recoverable amount. The recoverableamount is the estimated future cash flow discounted at the original effective interest rate. After impairment, theinterest income is recognised on the basis of the original effective interest rate. c) Dividend income Dividend income is recognised when this has been determined by the General Meeting.2.20 Public subsidies Subsidies from the net pay scheme and the reimbursement scheme for seamen are recorded as a cost reduction(under \u201cpayroll expenses\u201d). 2.21 Dividends Disbursements of dividends to the Company\u2019s shareholders are classified as debt from the date when thedividend is determined by the General Meeting. 2.22 Events after the balance sheet date New information after the balance sheet date on the Company\u2019s financial position on that date has beenconsidered in the annual accounts. Subsequent events that do not affect the Company\u2019s financial position onthe balance sheet date, but will affect it in the future, are reported if they are significant. 2.23 Earnings per share accruing to the parent company\u2019s shareholders The calculation of earnings per share is based on the majority share of net profit, using the weighted averageoutstanding number of shares through the year. The diluted earnings per share are based on the majority shareof the net profit using the average outstanding number of shares and outstanding options. 2.24 Taxes Taxes are expensed as they are incurred. The tax costs consist of tax payable and the change in deferredtaxes. Deferred tax/deferred tax assets are calculated by the liability method. Deferred tax/deferred tax assetsare calculated based on tax rates and tax legislation which has been adopted (or adopted for all practicalpurposes) on the balance sheet date, and which is assumed to be used when the deferred tax is settled.Deferred tax/deferred tax assets are calculated per tax area and is presented gross in the balance sheet. Deferred tax assets are recognised to the extent that it is likely that there will be taxable income in the future,and that the temporary differences can be deducted from this income. The parent company and some other companies in the Group are subject to ordinary taxation. Severalcompanies in the Group are subject to tonnage tax, classified as an operating expense and not in accordancewith IAS 12 Taxes abroad are recorded in the periods in which they are incurred. To the extent that tax is calculated on thebasis of income, this is classified as an income reduction and presented together with operating income. Taxesabroad calculated on the basis of net profit are classified as tax costs. 2.25 Discontinued operations \u2013 assets and liabilities held for sale Non-current assets (or disposal groups) are classified as \u2018held for sale\u2019 when the capitalised amount is mainlyrealised through a sales transaction, and a sale is considered highly likely. They are measured at the lower ofcapitalised value and fair value minus sales costs. 2.26 Changes in accounting policies The accounting principles applied are consistent with the principles used in previous periods.Assessment of fair value IFRS 7 requires financial instruments measured at fair value on the balance sheet date to be presented bylevel, with the following level classification for measuring fair value: 1) Quoted price in an active market for an identical asset or liability (level 1) 2) Valuation based on other observable factors, either directly (price) or indirectly (derived from prices)other than the quoted price (used in level 1) for the asset or liability (level 2) 3) Valuation based on factors not taken from observable markets (non-observable assumptions) (level3) The following balance sheet items represent financial instruments at fair value: Balance sheet item: Level Cash and cash equivalents 1 Derivatives 2 Financial investments 2 Derivatives are recognised on the basis of valuations from the counterparty (mark to market). Debts to credit institutions with floating interest rates are recognised at amortised cost, and are valued atapproximate fair value. Fixed-rate loans (CIRR) are recorded at amortised cost, and the estimated value isdescribed in Note 23. The fair value of fixed-rate loans is calculated by discounting the difference between thefixed rate and the market rate at December 31, 2022, with a duration equal to the term of the loan. Cost is considered equivalent to fair value for the equity investments discussed in Note 21. ",
"dimensions": {
"concept": "ifrs-full:DisclosureOfSummaryOfSignificantAccountingPoliciesExplanatory",
"language": "en",
"entity": "scheme:5967007LIEEXZXFOMO31",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"pp-value-17-2": {
"value": "2.1 Main principles The consolidated accounts of the Eidesvik Offshore Group have been prepared in accordance with InternationalFinancial Reporting Standards (IFRS), as adopted by the EU, and interpretations adopted by the InternationalAccounting Standards Board (IASB). The consolidated accounts have been prepared on the basis of the historical cost principle, however, it hasbeen modified for the following: financial derivatives and financial assets classified as \u201cfair value through theprofit and loss account\u201d, which have been valuated at fair value. An asset is presented as short-term if it is expected to be realised within twelve months of the balance sheetdate as part of ordinary operations, if it is an asset owned with purchase and sale as its main purpose, or if itis cash or cash equivalents. Debt is presented as short-term if there is no unconditional right to postpone payment at least twelve monthsfrom the balance sheet date, or it is a debt with purchase and sale as its main purpose. Long-term debt isreclassified as short-term debt when there are 12 months left to maturity. The same applies to the first year\u2019srepayment on long-term debt maturing within twelve months from the balance sheet date. The accounts are prepared in accordance with IFRS. This means that the management has used estimates andassumptions that have affected assets, debt, income, expenses, and information on potential liabilities. Cash flow statements are prepared according to the direct method. ",
"dimensions": {
"concept": "ifrs-full:StatementOfIFRSCompliance",
"language": "en",
"entity": "scheme:5967007LIEEXZXFOMO31",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"pp-value-18-2": {
"value": "2.2 Principles of consolidation The consolidated accounts include parent company Eidesvik Offshore ASA and companies controlled byEidesvik Offshore ASA. Control is obtained when the Group is exposed to, or is entitled to, variable returnresulting from the Group\u2019s involvement, and the Group is able to influence the return through its influence inthe Company. a) Subsidiaries Subsidiaries are all entities where the Group has controlling influence on the entity\u2019s financial and operationalstrategy, normally through owning more than half the voting capital. When determining whether there iscontrolling influence, one includes the effect of potential voting rights which can be exercised or converted onthe balance sheet date. Subsidiaries are consolidated from the time control is transferred to the Group, andare excluded from consolidation when control ceases. Stocks and shares in subsidiaries are recorded at costand eliminated against the equity of the subsidiary at the time of takeover or establishment. b) Associates/Joint ventures The Group\u2019s investment in its associates and joint ventures are accounted for under the equity method ofaccounting. An associate is an entity in which the Group has significant influence, but which is not a subsidiary.A joint arrangement is either a joint operation or a joint venture. Companies where the Group has joint controlwith another party, are defined as joint ventures, as it has rights to the net assets of the arrangement. Jointventures exist if there is 50/50 ownership, or if it is otherwise regulated so that the parties have joint control. The Group does not capitalise its share of deficits if this means that the capitalised value of the investment will be negative (including unhedged receivables on the entity), unless the Group has assumed liabilities or provided guarantees for the joint venture\u2019s liabilities. c) Non-controlling interests Non-controlling interests\u2019 (minority interests) share of the equity is shown on a separate line in the Group\u2019sequity. Non-controlling interests include the minority share of the capitalised value of subsidiaries, includingthe share of identifiable added value at the time of acquisition of a subsidiary. ",
"dimensions": {
"concept": "ifrs-full:DisclosureOfBasisOfConsolidationExplanatory",
"language": "en",
"entity": "scheme:5967007LIEEXZXFOMO31",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"pp-value-18-4": {
"value": "2.2 Principles of consolidation The consolidated accounts include parent company Eidesvik Offshore ASA and companies controlled byEidesvik Offshore ASA. Control is obtained when the Group is exposed to, or is entitled to, variable returnresulting from the Group\u2019s involvement, and the Group is able to influence the return through its influence inthe Company. ",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForInvestmentsInJointVentures",
"language": "en",
"entity": "scheme:5967007LIEEXZXFOMO31",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"pp-value-18-5": {
"value": "2.2 Principles of consolidation The consolidated accounts include parent company Eidesvik Offshore ASA and companies controlled byEidesvik Offshore ASA. Control is obtained when the Group is exposed to, or is entitled to, variable returnresulting from the Group\u2019s involvement, and the Group is able to influence the return through its influence inthe Company. a) Subsidiaries Subsidiaries are all entities where the Group has controlling influence on the entity\u2019s financial and operationalstrategy, normally through owning more than half the voting capital. When determining whether there iscontrolling influence, one includes the effect of potential voting rights which can be exercised or converted onthe balance sheet date. Subsidiaries are consolidated from the time control is transferred to the Group, andare excluded from consolidation when control ceases. Stocks and shares in subsidiaries are recorded at costand eliminated against the equity of the subsidiary at the time of takeover or establishment. ",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForSubsidiariesExplanatory",
"language": "en",
"entity": "scheme:5967007LIEEXZXFOMO31",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"pp-value-18-6": {
"value": "2.2 Principles of consolidation The consolidated accounts include parent company Eidesvik Offshore ASA and companies controlled byEidesvik Offshore ASA. Control is obtained when the Group is exposed to, or is entitled to, variable returnresulting from the Group\u2019s involvement, and the Group is able to influence the return through its influence inthe Company. c) Non-controlling interests Non-controlling interests\u2019 (minority interests) share of the equity is shown on a separate line in the Group\u2019sequity. Non-controlling interests include the minority share of the capitalised value of subsidiaries, includingthe share of identifiable added value at the time of acquisition of a subsidiary. ",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForTransactionsWithNoncontrollingInterestsExplanatory",
"language": "en",
"entity": "scheme:5967007LIEEXZXFOMO31",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"pp-value-20-5": {
"value": "b) Associates/Joint ventures The Group\u2019s investment in its associates and joint ventures are accounted for under the equity method ofaccounting. An associate is an entity in which the Group has significant influence, but which is not a subsidiary.A joint arrangement is either a joint operation or a joint venture. Companies where the Group has joint controlwith another party, are defined as joint ventures, as it has rights to the net assets of the arrangement. Jointventures exist if there is 50/50 ownership, or if it is otherwise regulated so that the parties have joint control. The Group does not capitalise its share of deficits if this means that the capitalised value of the investment will be negative (including unhedged receivables on the entity), unless the Group has assumed liabilities or provided guarantees for the joint venture\u2019s liabilities. (NOK thousands) The Eidesvik Offshore ASA Group has the following investments in joint ventures: Entity Country Industry Ownership/ Book value Share of Translation Dividends Addition / Assets Book valuevoting 31.12.2021 profit 2022 differences disposal held for 31.12.2022share sale Eidesvik Seven Norway Shipping 50,0 % AS 132 157 -10 718 0 0 0 0 121 439Eidesvik Seven Norway Shipping 50,0 % Chartering AS 15 368 1 075 0 0 0 0 16 443Total 147 526 -9 644 0 0 0 0 137 882Entity Country Industry Ownership/ Book value Share of Translation Dividends Addition / Assets Book valuevoting 31.12.2020 profit 2021 differences disposal held for 31.12.2021share sale Eidesvik Seven Norway Shipping 50,0 % AS 140 843 -8 686 0 0 0 0 132 157Eidesvik Seven Norway Shipping 50,0 % Chartering AS 13 473 1 895 0 0 0 0 15 368Total 154 316 -6 790 0 0 0 0 147 525Eidesvik Seven AS and Eidesvik Seven Chartering AS are classified as joint ventures, as Subsea 7 Norge AS and Eidesvik each own 50% of the shares in the company. Eidesvik Shipping AS is guarantor for 50% of the debt in Eidesvik Seven AS. Summary of financial information for the joint ventures: 2022: Entity Assets Non-current Current Of this Equity Liabilities Long-term Short-term assets assets bank Eidesvik Seven 504 647 485 355 19 292 9 341 471 242 877 261 770 255 589 6 182 AS Eidesvik Seven 54 726 0 54 726 31 323 32 886 21 839 0 21 839 Chartering AS Entity Revenue EBITDA Depr. / Financial Financial Net Taxes Profit/loss Group impairment income expenses financial for the year share items Eidesvik Seven 31 290 29 801 37 851 87 13 473 -13 387 0 -21 437 AS -10 718 Eidesvik Seven 107 790 2 546 0 394 18 376 650 2 272 Chartering AS 1 075 -9 644 2021: Entity Assets Non-current Current Of this Equity Liabilities Long-term Short-term assets assets bank Eidesvik Seven 533 325 518 708 14 616 182 264 314 269 011 266 918 2 093 AS Eidesvik Seven 58 675 0 58 675 29 906 30 737 27 938 0 27 938 Chartering AS Entity Revenue EBITDA Depr. / Financial Financial Net Taxes Profit/loss Group impairment income expenses financial for the year share items Eidesvik Seven 32 393 31 138 37 346 0 11 164 -11 164 0 -17 371 AS -8 686 Eidesvik Seven 103 848 3 769 0 22 1 22 0 3 791 Chartering AS 1 895 -6 790 ",
"dimensions": {
"concept": "ifrs-full:DisclosureOfInvestmentsAccountedForUsingEquityMethodExplanatory",
"language": "en",
"entity": "scheme:5967007LIEEXZXFOMO31",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"pp-value-20-7": {
"value": "b) Associates/Joint ventures The Group\u2019s investment in its associates and joint ventures are accounted for under the equity method ofaccounting. An associate is an entity in which the Group has significant influence, but which is not a subsidiary.A joint arrangement is either a joint operation or a joint venture. Companies where the Group has joint controlwith another party, are defined as joint ventures, as it has rights to the net assets of the arrangement. Jointventures exist if there is 50/50 ownership, or if it is otherwise regulated so that the parties have joint control. The Group does not capitalise its share of deficits if this means that the capitalised value of the investment will be negative (including unhedged receivables on the entity), unless the Group has assumed liabilities or provided guarantees for the joint venture\u2019s liabilities. ",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForInvestmentInAssociatesAndJointVenturesExplanatory",
"language": "en",
"entity": "scheme:5967007LIEEXZXFOMO31",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"pp-value-21-3": {
"value": "c) Non-controlling interests Non-controlling interests\u2019 (minority interests) share of the equity is shown on a separate line in the Group\u2019sequity. Non-controlling interests include the minority share of the capitalised value of subsidiaries, includingthe share of identifiable added value at the time of acquisition of a subsidiary. Subsidiaries with substantial minority interests The Group has two subsidiaries where there are substantial minority interests. Of companies with minorityinterests, only the companies below are considered material. 2022: Entity Country Minority interests (%) Minority share of profit/loss Norway 25,25 % 54 738 Eidesvik Neptun AS Norway 25,25 % 5 942 Eidesvik Neptun II AS 60 680 2021: Entity Country Minority interests (%) Minority share of profit/loss Norway 19,89 % -1 897 Eidesvik Supply AS * Norway 25,25 % 48 673 Eidesvik Neptun AS Norway 25,25 % -292 Eidesvik Neptun II AS 46 482 * The Group has in September 2021 bought out the the minority owners, and the minority share of profit/loss isper August 31, 2021. Summary of financial information for subsidiaries with substantial minority interests: 2022: Entity Assets Non-current Current Of which Equity Liabilities Long-term Short-termassets assets bank 298 519 0 298 519 29 149 250 136 48 383 0 48 383Eidesvik Neptun AS 83 693 0 83 693 51 715 88 83 605 0 83 605Eidesvik Neptun II AS Entity Revenue EBITDA Depr. / Financial Financial Net financial Taxes Profit/loss forimpairment income expenses items the year395 021 368 005 0 1 096 152 340 -151 244 0 216 761Eidesvik Neptun AS 157 396 2 071 0 545 57 488 0 2 558Eidesvik Neptun II AS 2021: Entity Assets Non-current Current Of which Equity Liabilities Long-term Short-termassets assets bank 196 773 170 667 26 105 3 442 1 207 195 566 132 329 63 236Eidesvik Supply AS 1 016 679 944 775 71 904 1 345 33 473 983 206 942 107 41 099Eidesvik Neptun AS 76 003 0 76 003 34 788 -24 207 100 209 0 100 209Eidesvik Neptun II AS Entity Revenue EBITDA Depr. / Financial Financial Net financial Taxes Profit/loss forimpairment income expenses items the year41 047 7 564 14 781 27 12 931 -12 904 0 -20 121Eidesvik Supply AS 103 727 86 240 -165 581 26 59 109 -59 082 0 192 739Eidesvik Neptun AS 128 095 -4 942 0 3 476 382 3 094 0 -1 848Eidesvik Neptun II AS ",
"dimensions": {
"concept": "ifrs-full:DisclosureOfNoncontrollingInterestsExplanatory",
"language": "en",
"entity": "scheme:5967007LIEEXZXFOMO31",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"pp-value-22-2": {
"value": "2.3 Segment Information Segments are reported in the same way as for reporting to the Company\u2019s supreme decision maker. The Boardis defined as the Company\u2019s supreme decision maker, and is responsible for allocating resources andassessment of earnings in the various segments. The Group\u2019s reporting format is associated with businessareas, secondary information associated with geographical areas is not used, as this does not make sensestrategically. The three primary operating segments are divided into Supply vessels (PSV), Subsea/Wind, andSeismic. In addition to this, other activities, which includes, among other things, vessels under construction, isplaced in a separate segment. As the joint ventures are significant with regard to the core activities, gross figures from underlying companiesare included in segment information. NOTE 4 \u2013 SEGMENT INFORMATION The Group\u2019s activities are divided into strategic operating segments according to the nature of the vessels\u2019activities. The various operating segments offer different shipping services, address partially different customergroups, and have different risk profiles. The Group is divided into the following operating segments: a. Seismic b. Subsea/Offshore Wind c. Supply d. Other The Seismic segment delivers shipping services to customers who produce seismic data. At the end of 2022,all seismic vessels were in layup and held for sale. Refer to note 12 for further information of the seismic fleet.The Subsea/Offshore Wind segment delivers shipping services for subsea work for the oil industry. The vesselsare specially adapted to tasks such as subsea inspection, maintenance, repairs and construction. Several ofthe Company\u2019s subsea vessels meet the requirements in the Offshore Wind market, and one vessel is currentlychartered in this market. The Supply segment delivers services to the offshore oil industry. The vessels deliver supplies to rigs, andfunction as part of the rig\u2019s emergency preparedness. Transactions between segments are eliminated. These are mainly administration costs that are charged to eachsegment. Long-term financial items in the Group are not allocated, as the Group\u2019s liabilities are mainly included in fleetfacilities. Short-term liabilities are allocated to the segments where possible. Items that do not belong to any of the segments is recorded under \u201cOther\u201d. Segment performance is assessed on the basis of operating profit, and is consistently measured against operating profit in the consolidated financial accounts. The effect of applying IFRS 15 to the Group\u2019s revenues from contracts with customers is described in Note 2. Operating segments (NOK thousands) Seismic Subsea / Offshore Supply Other Consolidated Wind Operating segments 2022 2021 2022 2021 2022 2021 2022 2021 2022 2021Segment result Operating income (IFRS 15) 0 0 128 123 130 600 200 642 179 129 24 083 20 882 352 849 330 611Bareboat income (IFRS 16) 28 206 21 515 164 554 156 020 103 215 77 710 0 0 295 975 255 245Operating income from JV * (IFRS 15) 0 0 38 250 35 861 0 0 0 0 38 250 35 861Bareboat income from JV * (IFRS 16) 0 0 15 645 16 197 0 0 0 0 15 645 16 197Gain on sale 0 0 269 723 0 0 1 942 0 0 269 723 1 942Total operating income 28 206 21 515 616 296 338 677 303 857 258 781 24 083 20 882 972 442 639 855Operating expenses 18 975 13 798 141 448 158 172 210 783 191 748 53 128 45 368 424 334 409 086Operating expenses share from JV * 0 0 37 783 34 604 0 0 0 0 37 783 34 604Total operating expenses 18 975 13 798 179 231 192 776 210 783 191 748 53 128 45 368 462 117 443 689Depreciation 14 026 36 135 38 916 86 281 84 192 80 009 5 773 5 536 142 907 207 961Depreciations share from JV * 0 0 18 925 18 673 0 0 0 0 18 925 18 673Impairment on assets 16 053 48 599 -36 564 -192 396 -188 726 0 0 0 -209 237 -143 797Impairment on assets share from JV * 0 0 0 0 0 0 0 0 0 0Total depreciation 30 079 84 734 21 277 -87 442 -104 534 80 009 5 773 5 536 -47 405 82 837Operating profit incl. share of the JVs * -20 848 -77 017 415 788 233 344 197 608 -12 976 -34 818 -30 022 557 730 113 329Net finance items and tax in JV* 0 0 -6 831 -5 571 0 0 0 0 -6 831 -5 571Impairment JV ** 0 0 0 0 0 0 0 0 0 0Share of profit from associated companies 0 0 0 0 0 0 523 874 523 874Operating profit -20 848 -77 017 408 958 227 773 197 608 -12 976 -34 295 -29 148 551 423 108 633Net financial items -144 639 -77 912Tax costs -49 17Profit/loss for the year 406 736 30 737In 2022, the Seismic segment had an impairment of MNOK 16, the Subsea/Offshore Wind segment had a reversal of previous impairment of MNOK 36.6, and the Supply segment had a reversal of previous impairment of MNOK 188.7. In 2021, the Seismic segment had an impairment of MNOK 48.6, and the Subsea/ Offshore Wind segment had a reversal of previous impairment of MNOK -192.4 *) For shares in joint ventures, the figures in the table are included with the share corresponding to the Group\u2019s ownership interest. In this note gross values are used in the result, and equity method are used for shares in joint ventures. No changes in other principles. Refer to Note 7. (NOK thousands) Subsea / Offshore Seismic Wind Supply Other Consolidated Operating segments 2022 2021 2022 2021 2022 2021 2022 2021 2022 2021Segment assets 14 686 53 128 363 751 303 408 856 357 696 649 230 010 197 013 1 464 804 1 250 198Proportion of assets in JV* 0 0 279 687 296 000 0 0 0 0 279 687 296 000Unallocated assets (cash) 0 0 0 0 0 0 0 0 655 653 330 401Assets held for sale 80 695 63 217 0 959 242 0 0 0 0 80 695 1 022 459Total consolidated assets 95 381 116 346 363 751 303 408 856 357 696 649 220 010 197 013 2 201 153 2 603 058Assets incl. share of JV* 1 558 95 381 116 346 643 438 650 856 357 696 649 220 010 197 013 2 480 839 2 899 058Segment current liabilities (excl. mortgage debt) -2 267 -526 -18 357 -23 170 -14 509 -31 244 -182 779 -151 828 -217 911 -206 769Proportion of debts from JV* 0 0 -141 805 -148 475 0 0 0 0 -141 805 -148 475Segment mortgage debt and other -1 080 -1 182long-term liabilities -291 845 -292 646 -201 219 -991 590 -644 941 -686 278 57 294 788 463 711051Total liabilities incl. share of JV* -1 163 -1 440 -1 537-294 112 -293 172 -361 380 235 -659 449 -717 522 -125 485 636 634 427294Investments in non-current assets (excl. periodic maintenance) 1 416 0 29 235 8 261 14 615 43 360 0 0 45 266 51 621Gross sales of non-current assets 0 0 944 093 0 0 21 808 0 0 944 093 21 808*) For shares in joint ventures, the amounts in the table are included in proportions equal to the Group\u2019s ownership interest. The sale of Viking Neptun in November 2023 significantly reduced the debt in the Subsea/Offshore Wind segment. Information on large customers The majority of the Group\u2019s income is earned from a small number of large customers. The table below shows the total operating income from all customers representing more than 10% of the Group\u2019s operating income. The amounts are distributed by segments. Operating segments Seismic Subsea / Offshore Wind Supply 2022 2021 2022 2021 2022 2021 Customer 1 89 764 86 824 Customer 2 193 333 133 334 Customer 3 67 090 Customer 4 71 341 93 415 Customer 5 207 181 164 131 Total operating income large customers 0 0 296 945 318 045 264 674 226 748 Secondary segments are not reported. The Seismic, Subsea/Offshore Wind and Supply business segments are the only groups reported internally. Although the vessels in the Seismic and Subsea/Offshore Wind segments operate in various parts of the world, this is mainly a consequence of the customer\u2019s preferred areas of operation, not necessarily a decision on a geographical focus area. Presenting geographical areas for these segments is considered misleading. For the Supply segment, all operations in 2021 and 2022 are in just one geographical area defined as Europe. Secondary segmentations is therefore omitted. Refer to Note 22 for maturity for future lease income. ",
"dimensions": {
"concept": "ifrs-full:DisclosureOfEntitysReportableSegmentsExplanatory",
"language": "en",
"entity": "scheme:5967007LIEEXZXFOMO31",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"pp-value-22-4": {
"value": "2.3 Segment Information Segments are reported in the same way as for reporting to the Company\u2019s supreme decision maker. The Boardis defined as the Company\u2019s supreme decision maker, and is responsible for allocating resources andassessment of earnings in the various segments. The Group\u2019s reporting format is associated with businessareas, secondary information associated with geographical areas is not used, as this does not make sensestrategically. The three primary operating segments are divided into Supply vessels (PSV), Subsea/Wind, andSeismic. In addition to this, other activities, which includes, among other things, vessels under construction, isplaced in a separate segment. As the joint ventures are significant with regard to the core activities, gross figures from underlying companiesare included in segment information. ",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForSegmentReportingExplanatory",
"language": "en",
"entity": "scheme:5967007LIEEXZXFOMO31",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"pp-value-23-2": {
"value": "2.4 Conversion of foreign currencies a) Functional currency and presentation currency The accounts of the individual entities in the Group are measured in the currency mainly used in the economicarea where the entity operates (functional currency). The consolidated accounts are presented in Norwegiankroner (NOK), which is both the functional currency and the presentation currency of the parent company. Inorder to calculate the share of profit from joint ventures, balance sheet figures in a different currency aretranslated at the exchange rate of the balance sheet date, while profit and loss items are translated at thequarterly average exchange rate. Translation differences are recognised as other income or costs directly inthe equity. b) Transactions and balance sheet items Transactions in foreign currencies are translated to the functional currency using the transaction exchangerate. Currency gain and loss occurring when paying such transactions, and when translating monetary items(assets and liabilities) in foreign currencies at year end on the balance sheet date, are recognised. Monetaryitems and liabilities in other currencies are translated at the exchange rate of the balance sheet date. Currencygains and losses are included in the income statement as \u201cNet currency gain/loss\u201d. a) Market risk (i) Currency risk (see also Note 23) The Group operates internationally and is exposed to fluctuations in exchange rates for several currencies.Currency risk arises from future transactions, and relates to booked assets and liabilities. To manage the currency risk from future commercial transactions and booked assets and liabilities, the Groupuses currency derivatives. The Group also, to a certain extent, have loans in the same currency as expectedfuture income. The Group is particularly exposed to fluctuations in USD, as it has considerable charter income but lowoperating costs in this currency. It seeks to reduce fluctuations with loans and currency forward contracts inthe same currency. At December 31, 2022, the Group\u2019s long-term liabilities were divided between 73% NOKand 27% USD. At December 31, 2021 it was 45% NOK and 55% USD. The major change is related to the sale of Viking Neptun in 2022 and the repayment of its USD loan. The Company\u2019s exposure to USD on the balance sheet date is shown in table below, and is significantly reduceddue to the sale of Viking Neptun in 2022. The table below shows estimated change in net profit before tax inmillion NOK if the USD rate against NOK had been 50 \u00f8re higher/lower at December 31, 2022. The table doesnot reflect potential effects on impairment regarding value in use for vessels with income in USD. +50 \u00f8re -50 \u00f8re Operating profit before profit from associates and joint ventures 0,0 0,0 Profit from joint ventures 0,0 0,0 Net financial income excluding agio/disagio on long-term debt 0,0 0,0 Agio/disagio -4,6 4,6 Profit/loss for the year -4,6 4,6 Translation difference, shares 0,0 0,0 Total comprehensive income -4,6 4,6 NOTE 26 - EXCHANGE RATES Average Exchange rate Average Exchange rateexchange rate 31.12.2022 exchange rate 31.12.20212022 2021 Euro 10,1040 10,5138 10,1648 9,9888UK pound 11,8464 11,8541 11,8254 11,8875US dollar 9,6245 9,8573 8,5991 8,8194Exchange rates from the Norwegian Central Bank\u2019s website. ",
"dimensions": {
"concept": "ifrs-full:DisclosureOfEffectOfChangesInForeignExchangeRatesExplanatory",
"language": "en",
"entity": "scheme:5967007LIEEXZXFOMO31",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"pp-value-23-4": {
"value": "2.4 Conversion of foreign currencies a) Functional currency and presentation currency The accounts of the individual entities in the Group are measured in the currency mainly used in the economicarea where the entity operates (functional currency). The consolidated accounts are presented in Norwegiankroner (NOK), which is both the functional currency and the presentation currency of the parent company. Inorder to calculate the share of profit from joint ventures, balance sheet figures in a different currency aretranslated at the exchange rate of the balance sheet date, while profit and loss items are translated at thequarterly average exchange rate. Translation differences are recognised as other income or costs directly inthe equity. b) Transactions and balance sheet items Transactions in foreign currencies are translated to the functional currency using the transaction exchangerate. Currency gain and loss occurring when paying such transactions, and when translating monetary items(assets and liabilities) in foreign currencies at year end on the balance sheet date, are recognised. Monetaryitems and liabilities in other currencies are translated at the exchange rate of the balance sheet date. Currencygains and losses are included in the income statement as \u201cNet currency gain/loss\u201d. ",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForFunctionalCurrencyExplanatory",
"language": "en",
"entity": "scheme:5967007LIEEXZXFOMO31",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"pp-value-23-5": {
"value": "2.4 Conversion of foreign currencies a) Functional currency and presentation currency The accounts of the individual entities in the Group are measured in the currency mainly used in the economicarea where the entity operates (functional currency). The consolidated accounts are presented in Norwegiankroner (NOK), which is both the functional currency and the presentation currency of the parent company. Inorder to calculate the share of profit from joint ventures, balance sheet figures in a different currency aretranslated at the exchange rate of the balance sheet date, while profit and loss items are translated at thequarterly average exchange rate. Translation differences are recognised as other income or costs directly inthe equity. b) Transactions and balance sheet items Transactions in foreign currencies are translated to the functional currency using the transaction exchangerate. Currency gain and loss occurring when paying such transactions, and when translating monetary items(assets and liabilities) in foreign currencies at year end on the balance sheet date, are recognised. Monetaryitems and liabilities in other currencies are translated at the exchange rate of the balance sheet date. Currencygains and losses are included in the income statement as \u201cNet currency gain/loss\u201d. ",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForForeignCurrencyTranslationExplanatory",
"language": "en",
"entity": "scheme:5967007LIEEXZXFOMO31",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"pp-value-25-2": {
"value": "2.5 Vessels, depreciation and other fixed assets Vessels and other fixed assets are recognised at historical cost minus accumulated depreciation andimpairments. Each part of the asset that has material share of the total cost is depreciated separately andlinearly over the useful life of the asset. Components with the same useful life are depreciated as onecomponent. The depreciation period and method are evaluated at each balance sheet date to ensure that themethod and the period used correspond with the financial realities for the asset. The same applies to scrapvalue, which is subject to an annual assessment. Estimated useful life: Vessels 15-30 years Property/fixtures 5-20 years Equipment 3-5 years Periodic maintenance 30-60 months Port facilities N/A At the time of delivery for new vessels, an amount corresponding to the expected cost at the first ordinaryclassification/periodic maintenance is separated. This amount is depreciated over the period until the nextdocking date. Costs associated with subsequent periodic maintenance are capitalised and depreciated until thenext periodic maintenance, generally over 30\u201360 months. Costs of ongoing maintenance and minor repairs andmaintenance are expensed as they incur. 2.7 Impairment of fixed assets The book value of tangible fixed assets is assessed for impairment when events or changes in circumstancesindicate that book value cannot be recovered. If such indications are discovered, and the book value exceedsthe recoverable amount, the asset is impaired to the recoverable amount, which for tangible fixed assets is thehigher of expected net sales price and value in use. Value in use is calculated as the present value of futurecash flows. If the reason for the impairment lapses at a later time, and the lapse can be tied to an event takingplace after the impairment is recognised, the previous impairment is reversed. NOTE 12 \u2013 TANGIBLE FIXED ASSETS 2022: Total Operating other Periodic Port equipmenfixed maintenaTotal New build (NOK thousands) Property facilities t assets Vessels nce vessels contracts Total (*)Acquisition cost 1 January 2022 37 414 3 594 42 559 83 567 5 890 541 359 633 6 250 174 0 6 333 741Addition 0 0 372 372 45 266 56 183 101 448 0 101 821Disposal 0 0 -2 700 -2 700 -1 288 357 -61 268 -1 349 625 0 -1 352 32531 December 2022 37 414 3 594 40 231 81 239 4 647 450 354 548 5 001 998 0 5 083 236Accumulated depreciation and impairments 1 January 2022 19 624 3 494 39 926 63 044 4 034 132 285 076 4 319 208 0 4 382 251Depreciation in the year 180 0 93 273 87 156 49 978 137 134 0 137 407Impairment for the year 0 0 0 0 16 053 0 16 053 0 16 053Reversal of previous 0 0 0 0 -225 290 0 -225 290 0 -225 290impairment for the year Disposals 0 0 -625 -625 -344 232 -44 350 -388 582 0 -389 20831 December 2022 19 804 3 494 39 393 62 692 3 567 818 290 704 3 858 522 0 3 921 214Book value 17 610 100 837 18 547 1 079 632 63 844 1 143 475 0 1 162 0232021: Total other Periodic Port Operating fixed maintenanTotal New build (NOK thousands) Property facilities equipment assets Vessels ce vessels contracts Total (*)Acquisition cost 1 January 2021 37 414 3 717 42 529 83 660 5 989 257 352 385 6 341 641 0 6 425 301Addition 0 0 31 31 51 621 36 899 88 521 0 88 551Disposal 0 -123 0 -123 -150 336 -29 651 -179 988 0 -180 11131 December 2021 37 414 3 594 42 559 83 567 5 890 541 359 633 6 250 174 0 6 333 741Accumulated depreciation and impairments 1 January 2021 19 443 3 494 39 277 62 215 4 170 167 248 592 4 418 759 0 4 480 974Depreciation in the year 180 0 648 829 140 026 62 399 202 425 0 203 254Impairment for the year 0 0 0 0 76 894 0 76 894 0 76 894Reversal of previous impairment for the year -220 6910 0 0 0 -220 691 0 -220 691 0 Disposals 0 0 0 0 -132 265 -25 915 -158 180 0 -158 18031 December 2021 19 624 3 494 39 926 63 044 4 034 132 285 076 4 319 208 0 4 382 251Book value 17 790 100 2 633 20 523 1 856 410 74 557 1 930 965 0 1 951 490(*) right-of-use assets TNOK 55 489 and depreciation TNOK 5 563 is not included in the table above. Refer to note 22 IFRS 16, Lease. Please refer to Note 20 for information on mortgaged assets. Refer to Note 2, point 2.5, for details of depreciation periods for vessels and lumping together of components. The Company has in November 2022 sold the Subsea/Wind vessel Viking Neptun, the sale generated a gain of MNOK 269.7. The PSV Viking Athene was sold in April 2021, and sale generated a gain of MNOK 1.9. All four seismic vessels are classified as held-for-sale. In determining whether the decisions of sale of the vessels are assessed as discontinued operations or asset held for sale, the Group have concluded that the seismic operations is not a major line of business. The assessment made is based on the fact that the seismic operation\u2019s representative share of the Group\u2019s total revenue is not viewed as significant (4% for 2022). Consistently discontinued operations is not applicable, and the vessels are classified as asset held for sale in accordance with IFRS 5. All four seismic vessels are classified as held-for-sale and are included in the table above. Refer to note 20 for Liabilities related to Assets held for sale. Property/port facilities include plots/land valued at MNOK 17.7 (MNOK 17.9) which are not depreciated. Impairment tests are performed on individual cash generating entities (vessels) when indications of impairment or reversal of previous impairments are identified. Due to observed indicators, such as improved market conditions and increase in market interest rates, the vessels\u2019 book values have been tested for impairment and reversal of previous impairments at all quarter end during 2022. Based on these tests, Eidesvik recognized a net reversal of impairment of MNOK 209.2 during 2022. Of this, MNOK 36.6 was related to reversal of impairment of one subsea/offshore wind vessel, and MNOK 188.6 is related to reversal of impairments of five PSVs. In addition, one seismic vessel was impaired with MNOK 16.0. The Group monitors the presence of impairment indicators during the periodical financial reporting, and thus may update its assessments of impairments to reflect further changes in the underlying market assumptions. Broker estimates are not used as an approximate sales value on the balance sheet date as there are few observed sales of the type of vessels the Company owns. For the assessment of value in use, expected future cash flows are used, discounted to net present value using a discount rate before taxes reflecting the market-based time value of money, as well as risk specific to the asset. The discount rate is derived from a weighted average cost of capital (WACC) for market players. The average WACC used in the calculations per December 31, 2022, is 9.2%. This takes into account that the Group\u2019s business is mainly within the tonnage tax system, and the calculated WACC is assumed to apply both before and after tax. The capital structure used in the weighted average cost of capital is based on an assumed capital structure in comparable companies with similar assets in a normal situation. Equity cost is based on the expected required rate of return for the Group\u2019s investors. Debt costs are based on the risk-free interest rate, plus a premium equivalent to the difference between risk-free rate and market rates. The beta factors are evaluated quarterly when deemed necessary, and otherwise at least annually, on the basis of publicly availablemarket data for identified comparable companies and the main index on the Oslo Stock Exchange. Future cash flows are estimated on the basis of estimated remaining useful life, which may exceed 5 years.The cash flows used in the impairment tests for 2022 are based on and reconciled against the financial forecastswhich the Group uses for internal planning purposes as well as present to its lenders. Important elements inestimated cash flows are the long-term inflation rate, the contract situation (order backlog), the utilization rate,ordinary operating expenses, periodic maintenance (docking), charter rates, and exchange rates. In 2022, the Seismic segment had an impairment charge of MNOK 16.0 (recoverable amount MNOK 106.7), theSubsea/Offshore Wind segment had a reversal impairment of MNOK 36.6 (MNOK 443.4), and the Supplysegment had a reversal of MNOK 188.6 (MNOK 989.0). In 2021, net reversal of previous impairments of MNOK143.8 were charged. There is significant uncertainty associated with the assumptions for the value in use calculations. Thecalculation is based on market prospects which are weak in all three segments in the short and medium term.On a general view, it is considered that the seismic survey market will see a few years after the balance sheetdate where layups or reduced rates must be expected for the vessels that are not on fixed contracts. The sameconsiderations apply to the subsea and supply markets. The expected future earnings used in the calculations are implicitly adjusted for utilisation rate adapted to thisgeneral market view. Therefore, sensitivity calculations have also been performed for the value in usecalculations and the impaired amounts, in order to highlight the uncertainty in the calculations. If the utilisation rate for the entire fleet are assumed to be reduced by 5 percentage points on uncontractedincome, the impairment would not be affected. If the WACC assumed had increased to 10.5%, the impairmentcharge would not be affected. Climate-related matters The Group constantly monitors the latest regulatory changes in relation to climate-related matters. The Group has already invested in hybrid battery solutions for the majority of its fleet. For further green fuelsand technologies to reduce CO2 emission for the fleet the Group continues to investigate this together with ourcustomers, suppliers and also follow up on possibilities for public funding. Forecast for the vessels includegreen investments to the extent relevant and are therefore included in assessment of impairment and reversalof impairment. The investments done by the Group so far with focus on reduction in CO2 has historicallycontributed to securing long term contracts for the vessels in particular in periods where there has been excesscapacity in the market. Higher fuel price due to CO2 levels or the cost of green fuels will for the most part beforwarded to the customer, hence there is limited impact in the Group\u2019s OPEX short term. For the Group\u2019s long term sustainability goals of 50% reduction in CO2 in 2030, and climate neutral in 2050 tobe met, both newbuild programs and new technology has to be implemented and yield appropriate returns. Longterm investments are evaluated on this basis. In the current market, with the existing fleet in the industry, current new build plans and commercial maturityof new emission technology there is no impact on residual values or useful life of the Group\u2019s existing vessels.All the Group\u2019s vessels comply with current environmental requirements. Reference is also made to Note 2.27d). ",
"dimensions": {
"concept": "ifrs-full:DisclosureOfImpairmentOfAssetsExplanatory",
"language": "en",
"entity": "scheme:5967007LIEEXZXFOMO31",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"pp-value-25-3": {
"value": "2.5 Vessels, depreciation and other fixed assets Vessels and other fixed assets are recognised at historical cost minus accumulated depreciation andimpairments. Each part of the asset that has material share of the total cost is depreciated separately andlinearly over the useful life of the asset. Components with the same useful life are depreciated as onecomponent. The depreciation period and method are evaluated at each balance sheet date to ensure that themethod and the period used correspond with the financial realities for the asset. The same applies to scrapvalue, which is subject to an annual assessment. Estimated useful life: Vessels 15-30 years Property/fixtures 5-20 years Equipment 3-5 years Periodic maintenance 30-60 months Port facilities N/A At the time of delivery for new vessels, an amount corresponding to the expected cost at the first ordinaryclassification/periodic maintenance is separated. This amount is depreciated over the period until the nextdocking date. Costs associated with subsequent periodic maintenance are capitalised and depreciated until thenext periodic maintenance, generally over 30\u201360 months. Costs of ongoing maintenance and minor repairs andmaintenance are expensed as they incur. b) Financial assets at amortised costIn order for a financial asset to be classified and measured at amortised cost or fair value through OCI, it needsto give rise to cash flows that are \u201csolely payments of principal and interest\u201d (\u201cSPPI\u201d) on the principal amountoutstanding. This assessment is referred to as the SPPI test and is performed at an instrument level. Financialassets with cash flows that are not SPPI are classified and measured at fair value through profit or loss,irrespective of the business model. Loans and receivables are non-derivative financial assets with fixedpayments that are not traded on an active market. They are classified as current assets, unless they maturemore than 12 months after the balance sheet date. In such cases, they are classified as non-current assets.Loans and receivables are classified as accounts receivable and other receivables on the balance sheet. Ordinary acquisitions and sales of investments are recognised at the date of the transaction. All financial assetsthat are not recognised at fair value through profit and loss are initially recorded at fair value plus transactioncosts. The exception is accounts receivable, which are recognised for the first time at the transaction price inaccordance with IFRS 15, ref. IFRS 9.1.5.3. Financial assets recognised at fair value through profit and lossare recognised on acquisition at fair value and transaction costs are posted to expenses. Investments areremoved from the balance sheet when the entitlement to cash flows from the investments cease, or when suchentitlement is transferred and the Group has basically transferred all risk and all potential profit from ownership.Financial assets available for sale and financial assets at fair value through the profit and loss account arevaluated at fair value after the first recognition. Loans and receivables are recognised at amortised cost usingthe effective interest method. The Group recognises an allowance for expected credit losses (ECLs) for all debt Instruments not held at fairvalue through profit or loss. ECLs are based on the difference between the contractual cash flows due inaccordance with the contract and all the cash flows that the Group expects to receive, discounted at anapproximation of the original effective interest rate. The expected cash flows will include cash flows from thesale of collateral held or other credit enhancements that are integral to the contractual terms. NOTE 12 \u2013 TANGIBLE FIXED ASSETS 2022: Total Operating other Periodic Port equipmenfixed maintenaTotal New build (NOK thousands) Property facilities t assets Vessels nce vessels contracts Total (*)Acquisition cost 1 January 2022 37 414 3 594 42 559 83 567 5 890 541 359 633 6 250 174 0 6 333 741Addition 0 0 372 372 45 266 56 183 101 448 0 101 821Disposal 0 0 -2 700 -2 700 -1 288 357 -61 268 -1 349 625 0 -1 352 32531 December 2022 37 414 3 594 40 231 81 239 4 647 450 354 548 5 001 998 0 5 083 236Accumulated depreciation and impairments 1 January 2022 19 624 3 494 39 926 63 044 4 034 132 285 076 4 319 208 0 4 382 251Depreciation in the year 180 0 93 273 87 156 49 978 137 134 0 137 407Impairment for the year 0 0 0 0 16 053 0 16 053 0 16 053Reversal of previous 0 0 0 0 -225 290 0 -225 290 0 -225 290impairment for the year Disposals 0 0 -625 -625 -344 232 -44 350 -388 582 0 -389 20831 December 2022 19 804 3 494 39 393 62 692 3 567 818 290 704 3 858 522 0 3 921 214Book value 17 610 100 837 18 547 1 079 632 63 844 1 143 475 0 1 162 0232021: Total other Periodic Port Operating fixed maintenanTotal New build (NOK thousands) Property facilities equipment assets Vessels ce vessels contracts Total (*)Acquisition cost 1 January 2021 37 414 3 717 42 529 83 660 5 989 257 352 385 6 341 641 0 6 425 301Addition 0 0 31 31 51 621 36 899 88 521 0 88 551Disposal 0 -123 0 -123 -150 336 -29 651 -179 988 0 -180 11131 December 2021 37 414 3 594 42 559 83 567 5 890 541 359 633 6 250 174 0 6 333 741Accumulated depreciation and impairments 1 January 2021 19 443 3 494 39 277 62 215 4 170 167 248 592 4 418 759 0 4 480 974Depreciation in the year 180 0 648 829 140 026 62 399 202 425 0 203 254Impairment for the year 0 0 0 0 76 894 0 76 894 0 76 894Reversal of previous impairment for the year -220 6910 0 0 0 -220 691 0 -220 691 0 Disposals 0 0 0 0 -132 265 -25 915 -158 180 0 -158 18031 December 2021 19 624 3 494 39 926 63 044 4 034 132 285 076 4 319 208 0 4 382 251Book value 17 790 100 2 633 20 523 1 856 410 74 557 1 930 965 0 1 951 490(*) right-of-use assets TNOK 55 489 and depreciation TNOK 5 563 is not included in the table above. Refer to note 22 IFRS 16, Lease. Please refer to Note 20 for information on mortgaged assets. Refer to Note 2, point 2.5, for details of depreciation periods for vessels and lumping together of components. The Company has in November 2022 sold the Subsea/Wind vessel Viking Neptun, the sale generated a gain of MNOK 269.7. The PSV Viking Athene was sold in April 2021, and sale generated a gain of MNOK 1.9. All four seismic vessels are classified as held-for-sale. In determining whether the decisions of sale of the vessels are assessed as discontinued operations or asset held for sale, the Group have concluded that the seismic operations is not a major line of business. The assessment made is based on the fact that the seismic operation\u2019s representative share of the Group\u2019s total revenue is not viewed as significant (4% for 2022). Consistently discontinued operations is not applicable, and the vessels are classified as asset held for sale in accordance with IFRS 5. All four seismic vessels are classified as held-for-sale and are included in the table above. Refer to note 20 for Liabilities related to Assets held for sale. Property/port facilities include plots/land valued at MNOK 17.7 (MNOK 17.9) which are not depreciated. Impairment tests are performed on individual cash generating entities (vessels) when indications of impairment or reversal of previous impairments are identified. Due to observed indicators, such as improved market conditions and increase in market interest rates, the vessels\u2019 book values have been tested for impairment and reversal of previous impairments at all quarter end during 2022. Based on these tests, Eidesvik recognized a net reversal of impairment of MNOK 209.2 during 2022. Of this, MNOK 36.6 was related to reversal of impairment of one subsea/offshore wind vessel, and MNOK 188.6 is related to reversal of impairments of five PSVs. In addition, one seismic vessel was impaired with MNOK 16.0. The Group monitors the presence of impairment indicators during the periodical financial reporting, and thus may update its assessments of impairments to reflect further changes in the underlying market assumptions. Broker estimates are not used as an approximate sales value on the balance sheet date as there are few observed sales of the type of vessels the Company owns. For the assessment of value in use, expected future cash flows are used, discounted to net present value using a discount rate before taxes reflecting the market-based time value of money, as well as risk specific to the asset. The discount rate is derived from a weighted average cost of capital (WACC) for market players. The average WACC used in the calculations per December 31, 2022, is 9.2%. This takes into account that the Group\u2019s business is mainly within the tonnage tax system, and the calculated WACC is assumed to apply both before and after tax. The capital structure used in the weighted average cost of capital is based on an assumed capital structure in comparable companies with similar assets in a normal situation. Equity cost is based on the expected required rate of return for the Group\u2019s investors. Debt costs are based on the risk-free interest rate, plus a premium equivalent to the difference between risk-free rate and market rates. The beta factors are evaluated quarterly when deemed necessary, and otherwise at least annually, on the basis of publicly availablemarket data for identified comparable companies and the main index on the Oslo Stock Exchange. Future cash flows are estimated on the basis of estimated remaining useful life, which may exceed 5 years.The cash flows used in the impairment tests for 2022 are based on and reconciled against the financial forecastswhich the Group uses for internal planning purposes as well as present to its lenders. Important elements inestimated cash flows are the long-term inflation rate, the contract situation (order backlog), the utilization rate,ordinary operating expenses, periodic maintenance (docking), charter rates, and exchange rates. In 2022, the Seismic segment had an impairment charge of MNOK 16.0 (recoverable amount MNOK 106.7), theSubsea/Offshore Wind segment had a reversal impairment of MNOK 36.6 (MNOK 443.4), and the Supplysegment had a reversal of MNOK 188.6 (MNOK 989.0). In 2021, net reversal of previous impairments of MNOK143.8 were charged. There is significant uncertainty associated with the assumptions for the value in use calculations. Thecalculation is based on market prospects which are weak in all three segments in the short and medium term.On a general view, it is considered that the seismic survey market will see a few years after the balance sheetdate where layups or reduced rates must be expected for the vessels that are not on fixed contracts. The sameconsiderations apply to the subsea and supply markets. The expected future earnings used in the calculations are implicitly adjusted for utilisation rate adapted to thisgeneral market view. Therefore, sensitivity calculations have also been performed for the value in usecalculations and the impaired amounts, in order to highlight the uncertainty in the calculations. If the utilisation rate for the entire fleet are assumed to be reduced by 5 percentage points on uncontractedincome, the impairment would not be affected. If the WACC assumed had increased to 10.5%, the impairmentcharge would not be affected. Climate-related matters The Group constantly monitors the latest regulatory changes in relation to climate-related matters. The Group has already invested in hybrid battery solutions for the majority of its fleet. For further green fuelsand technologies to reduce CO2 emission for the fleet the Group continues to investigate this together with ourcustomers, suppliers and also follow up on possibilities for public funding. Forecast for the vessels includegreen investments to the extent relevant and are therefore included in assessment of impairment and reversalof impairment. The investments done by the Group so far with focus on reduction in CO2 has historicallycontributed to securing long term contracts for the vessels in particular in periods where there has been excesscapacity in the market. Higher fuel price due to CO2 levels or the cost of green fuels will for the most part beforwarded to the customer, hence there is limited impact in the Group\u2019s OPEX short term. For the Group\u2019s long term sustainability goals of 50% reduction in CO2 in 2030, and climate neutral in 2050 tobe met, both newbuild programs and new technology has to be implemented and yield appropriate returns. Longterm investments are evaluated on this basis. In the current market, with the existing fleet in the industry, current new build plans and commercial maturityof new emission technology there is no impact on residual values or useful life of the Group\u2019s existing vessels.All the Group\u2019s vessels comply with current environmental requirements. Reference is also made to Note 2.27d). NOTE 22 - LEASES (NOK thousands) Right-of-use assets IFRS 16 \u201cLeases\u201d sets out the principles for the recognition, measurement and disclosure requirements for bothparties to a lease contract. IFRS 16 is effective for reporting periods beginning on or after January 1, 2019.The Group adopted IFRS 16 on the effective date using a modified retrospective approach and will not restatecomparative information. The Group is both a lessor, as it charters vessels to customers, and a lessee. The new requirements result insignificant changes to the accounting model applied by lessees and will primarily affect the Group\u2019s accountingfor the operating leases as a lessee. The accounting for lessors will not significantly change. To determine whether a contract contains a lease, it is considered whether the contract conveys the right tocontrol the use of an identified asset. This is for the Group considered to only be the case for office leases andvehicles. The Group has long term lease agreements on office premises and vehicles that will be affected byimplementation of IFRS 16. For the Group, these lease commitments will result in the recognition of an asset(right-of-use) and a lease liability. The rental period is calculated based on the duration of the agreement plusany option periods if these with reasonable certainty will be exercised. Joint expenses etc. are not recognisedin the lease liability for the rental contracts. As permitted by IFRS 16, the Group chose to measure the right-of-use asset equal to the amount of the liabilityat the implementation date. The future payments under each lease arrangement have been discounted usingthe incremental borrowing rate applicable to the leased assets in order to calculate the lease liability recognizedon the date of adoption. The Group has used the following practical expedients when applying IFRS 16 to leases: \u2022 Applied the exemption not to recognise right-of-use assets and liabilities for leases with less than 12months of lease term \u2022 Excluded initial direct costs from measuring the right-of-use assets at the date of initial application \u2022 The liabilities were measured at the present value of the remaining lease payments, discounted usingthe lessee\u2019s incremental borrowing rate as of 1 January 2019. The weighted average lessee\u2019sincremental borrowing rate applied to the lease liabilities on January 1, 2019 was 5.0%.Right-of-use assets Buildings Vehicles TotalAcquisition cost January 1, 2022 64 048 386 64 434Addition of right-of-use assets 10 010 626 10 636Disposals -86 -86Acquisition cost December 31, 2022 74 058 926 74 984Accumulated depreciation and impairment Depreciation 2019 4 293 179 4 472Depreciation 2020 4 575 179 4 754Depreciation 2021 4 679 28 4 707Depreciation 2022 5 411 152 5 563Accumulated depreciation and impairment December 31, 2022 18 958 538 19 496Carrying amount of right-of-use assets December 31, 2022 55 101 388 55 48910 24-50 Lower of remaining lease term or economic life years months Lease liabilities Undiscounted lease liabilities and maturity of cash outflows Buildings Vehicles TotalLess than 1 year 7 534 153 7 6871-2 years 7 534 122 7 6562-3 years 7 534 74 7 6083-4 years 7 534 74 7 6084-5 years 7 534 12 7 546More than 5 years 34 467 0 34 467Total undiscounted lease liabilities at December 31, 2022 72 137 436 72 573Summary of the lease liabilities Buildings Vehicles TotalAt initial application 01.01.2022 54 402 0 54 402New lease liabilities recognised in the year 7 659 539 8 198Installment -7 092 -165 -7 257Interest expense on lease liabilities 2 824 23 2 847Total lease liabilities at December 31, 2022 57 793 397 58 190Current lease liabilities 4 084 133 4 217Non-current lease liabilities 53 708 264 53 973Total cash flow for leases 7 257The Group as lessor The Group\u2019s main activity is leasing of offshore tonnage. See overview as of April 26, 2023, below. Vessels, Contract expiry, Contract expiry, consolidated Contract type Customer fixed charterer's option Viking Lady Time charter Aker BP December, 2024 December, 2030 Viking Queen Time charter Wintershall May, 2024 April, 2027 Viking Avant Time charter Equinor December, 2025 December, 2028 Viking Energy Time charter Equinor April, 2025 April, 2030 Viking Prince Time charter Aker BP December, 2025 Viking Princess Time charter Wintershall January, 2024 January, 2026 Viking Wind Power Time charter Siemens Gamesa January, 2027 June, 2027 Subsea Viking Time charter Van Oord March, 2028 August, 2028 Viking Vanquish Sold in March 2023 Viking Vision Layup Veritas Viking Layup Vantage Layup Vessel in joint Contract expiry, Contract expiry, venture Contract type Customer fixed charterer's option Seven Viking Time charter Subsea 7 November, 2025 December, 2026 Future minimum lease terms per December 31, 2022, including all new contracts as at April 26, 2023, for consolidated vessels on firm contracts have the following maturity (NOK thousands): Next 1 year 513 000 1 to 5 years 973 000 After 5 years 13 000 Future minimum lease 1 499 000 The Group has operating lease contract on its vessels representing income. The leases have terms of between12 and 62 months. As payments from the lessee to the Group is determined based on the fixed day rate agreedin the contract, no portion of the payments varies other than the passage of time. ",
"dimensions": {
"concept": "ifrs-full:DisclosureOfExpensesByNatureExplanatory",
"language": "en",
"entity": "scheme:5967007LIEEXZXFOMO31",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"pp-value-25-4": {
"value": "2.5 Vessels, depreciation and other fixed assets Vessels and other fixed assets are recognised at historical cost minus accumulated depreciation andimpairments. Each part of the asset that has material share of the total cost is depreciated separately andlinearly over the useful life of the asset. Components with the same useful life are depreciated as onecomponent. The depreciation period and method are evaluated at each balance sheet date to ensure that themethod and the period used correspond with the financial realities for the asset. The same applies to scrapvalue, which is subject to an annual assessment. Estimated useful life: Vessels 15-30 years Property/fixtures 5-20 years Equipment 3-5 years Periodic maintenance 30-60 months Port facilities N/A At the time of delivery for new vessels, an amount corresponding to the expected cost at the first ordinaryclassification/periodic maintenance is separated. This amount is depreciated over the period until the nextdocking date. Costs associated with subsequent periodic maintenance are capitalised and depreciated until thenext periodic maintenance, generally over 30\u201360 months. Costs of ongoing maintenance and minor repairs andmaintenance are expensed as they incur. NOTE 12 \u2013 TANGIBLE FIXED ASSETS 2022: Total Operating other Periodic Port equipmenfixed maintenaTotal New build (NOK thousands) Property facilities t assets Vessels nce vessels contracts Total (*)Acquisition cost 1 January 2022 37 414 3 594 42 559 83 567 5 890 541 359 633 6 250 174 0 6 333 741Addition 0 0 372 372 45 266 56 183 101 448 0 101 821Disposal 0 0 -2 700 -2 700 -1 288 357 -61 268 -1 349 625 0 -1 352 32531 December 2022 37 414 3 594 40 231 81 239 4 647 450 354 548 5 001 998 0 5 083 236Accumulated depreciation and impairments 1 January 2022 19 624 3 494 39 926 63 044 4 034 132 285 076 4 319 208 0 4 382 251Depreciation in the year 180 0 93 273 87 156 49 978 137 134 0 137 407Impairment for the year 0 0 0 0 16 053 0 16 053 0 16 053Reversal of previous 0 0 0 0 -225 290 0 -225 290 0 -225 290impairment for the year Disposals 0 0 -625 -625 -344 232 -44 350 -388 582 0 -389 20831 December 2022 19 804 3 494 39 393 62 692 3 567 818 290 704 3 858 522 0 3 921 214Book value 17 610 100 837 18 547 1 079 632 63 844 1 143 475 0 1 162 0232021: Total other Periodic Port Operating fixed maintenanTotal New build (NOK thousands) Property facilities equipment assets Vessels ce vessels contracts Total (*)Acquisition cost 1 January 2021 37 414 3 717 42 529 83 660 5 989 257 352 385 6 341 641 0 6 425 301Addition 0 0 31 31 51 621 36 899 88 521 0 88 551Disposal 0 -123 0 -123 -150 336 -29 651 -179 988 0 -180 11131 December 2021 37 414 3 594 42 559 83 567 5 890 541 359 633 6 250 174 0 6 333 741Accumulated depreciation and impairments 1 January 2021 19 443 3 494 39 277 62 215 4 170 167 248 592 4 418 759 0 4 480 974Depreciation in the year 180 0 648 829 140 026 62 399 202 425 0 203 254Impairment for the year 0 0 0 0 76 894 0 76 894 0 76 894Reversal of previous impairment for the year -220 6910 0 0 0 -220 691 0 -220 691 0 Disposals 0 0 0 0 -132 265 -25 915 -158 180 0 -158 18031 December 2021 19 624 3 494 39 926 63 044 4 034 132 285 076 4 319 208 0 4 382 251Book value 17 790 100 2 633 20 523 1 856 410 74 557 1 930 965 0 1 951 490(*) right-of-use assets TNOK 55 489 and depreciation TNOK 5 563 is not included in the table above. Refer to note 22 IFRS 16, Lease. Please refer to Note 20 for information on mortgaged assets. Refer to Note 2, point 2.5, for details of depreciation periods for vessels and lumping together of components. The Company has in November 2022 sold the Subsea/Wind vessel Viking Neptun, the sale generated a gain of MNOK 269.7. The PSV Viking Athene was sold in April 2021, and sale generated a gain of MNOK 1.9. All four seismic vessels are classified as held-for-sale. In determining whether the decisions of sale of the vessels are assessed as discontinued operations or asset held for sale, the Group have concluded that the seismic operations is not a major line of business. The assessment made is based on the fact that the seismic operation\u2019s representative share of the Group\u2019s total revenue is not viewed as significant (4% for 2022). Consistently discontinued operations is not applicable, and the vessels are classified as asset held for sale in accordance with IFRS 5. All four seismic vessels are classified as held-for-sale and are included in the table above. Refer to note 20 for Liabilities related to Assets held for sale. Property/port facilities include plots/land valued at MNOK 17.7 (MNOK 17.9) which are not depreciated. Impairment tests are performed on individual cash generating entities (vessels) when indications of impairment or reversal of previous impairments are identified. Due to observed indicators, such as improved market conditions and increase in market interest rates, the vessels\u2019 book values have been tested for impairment and reversal of previous impairments at all quarter end during 2022. Based on these tests, Eidesvik recognized a net reversal of impairment of MNOK 209.2 during 2022. Of this, MNOK 36.6 was related to reversal of impairment of one subsea/offshore wind vessel, and MNOK 188.6 is related to reversal of impairments of five PSVs. In addition, one seismic vessel was impaired with MNOK 16.0. The Group monitors the presence of impairment indicators during the periodical financial reporting, and thus may update its assessments of impairments to reflect further changes in the underlying market assumptions. Broker estimates are not used as an approximate sales value on the balance sheet date as there are few observed sales of the type of vessels the Company owns. For the assessment of value in use, expected future cash flows are used, discounted to net present value using a discount rate before taxes reflecting the market-based time value of money, as well as risk specific to the asset. The discount rate is derived from a weighted average cost of capital (WACC) for market players. The average WACC used in the calculations per December 31, 2022, is 9.2%. This takes into account that the Group\u2019s business is mainly within the tonnage tax system, and the calculated WACC is assumed to apply both before and after tax. The capital structure used in the weighted average cost of capital is based on an assumed capital structure in comparable companies with similar assets in a normal situation. Equity cost is based on the expected required rate of return for the Group\u2019s investors. Debt costs are based on the risk-free interest rate, plus a premium equivalent to the difference between risk-free rate and market rates. The beta factors are evaluated quarterly when deemed necessary, and otherwise at least annually, on the basis of publicly availablemarket data for identified comparable companies and the main index on the Oslo Stock Exchange. Future cash flows are estimated on the basis of estimated remaining useful life, which may exceed 5 years.The cash flows used in the impairment tests for 2022 are based on and reconciled against the financial forecastswhich the Group uses for internal planning purposes as well as present to its lenders. Important elements inestimated cash flows are the long-term inflation rate, the contract situation (order backlog), the utilization rate,ordinary operating expenses, periodic maintenance (docking), charter rates, and exchange rates. In 2022, the Seismic segment had an impairment charge of MNOK 16.0 (recoverable amount MNOK 106.7), theSubsea/Offshore Wind segment had a reversal impairment of MNOK 36.6 (MNOK 443.4), and the Supplysegment had a reversal of MNOK 188.6 (MNOK 989.0). In 2021, net reversal of previous impairments of MNOK143.8 were charged. There is significant uncertainty associated with the assumptions for the value in use calculations. Thecalculation is based on market prospects which are weak in all three segments in the short and medium term.On a general view, it is considered that the seismic survey market will see a few years after the balance sheetdate where layups or reduced rates must be expected for the vessels that are not on fixed contracts. The sameconsiderations apply to the subsea and supply markets. The expected future earnings used in the calculations are implicitly adjusted for utilisation rate adapted to thisgeneral market view. Therefore, sensitivity calculations have also been performed for the value in usecalculations and the impaired amounts, in order to highlight the uncertainty in the calculations. If the utilisation rate for the entire fleet are assumed to be reduced by 5 percentage points on uncontractedincome, the impairment would not be affected. If the WACC assumed had increased to 10.5%, the impairmentcharge would not be affected. Climate-related matters The Group constantly monitors the latest regulatory changes in relation to climate-related matters. The Group has already invested in hybrid battery solutions for the majority of its fleet. For further green fuelsand technologies to reduce CO2 emission for the fleet the Group continues to investigate this together with ourcustomers, suppliers and also follow up on possibilities for public funding. Forecast for the vessels includegreen investments to the extent relevant and are therefore included in assessment of impairment and reversalof impairment. The investments done by the Group so far with focus on reduction in CO2 has historicallycontributed to securing long term contracts for the vessels in particular in periods where there has been excesscapacity in the market. Higher fuel price due to CO2 levels or the cost of green fuels will for the most part beforwarded to the customer, hence there is limited impact in the Group\u2019s OPEX short term. For the Group\u2019s long term sustainability goals of 50% reduction in CO2 in 2030, and climate neutral in 2050 tobe met, both newbuild programs and new technology has to be implemented and yield appropriate returns. Longterm investments are evaluated on this basis. In the current market, with the existing fleet in the industry, current new build plans and commercial maturityof new emission technology there is no impact on residual values or useful life of the Group\u2019s existing vessels.All the Group\u2019s vessels comply with current environmental requirements. Reference is also made to Note 2.27d). NOTE 22 - LEASES (NOK thousands) Right-of-use assets IFRS 16 \u201cLeases\u201d sets out the principles for the recognition, measurement and disclosure requirements for bothparties to a lease contract. IFRS 16 is effective for reporting periods beginning on or after January 1, 2019.The Group adopted IFRS 16 on the effective date using a modified retrospective approach and will not restatecomparative information. The Group is both a lessor, as it charters vessels to customers, and a lessee. The new requirements result insignificant changes to the accounting model applied by lessees and will primarily affect the Group\u2019s accountingfor the operating leases as a lessee. The accounting for lessors will not significantly change. To determine whether a contract contains a lease, it is considered whether the contract conveys the right tocontrol the use of an identified asset. This is for the Group considered to only be the case for office leases andvehicles. The Group has long term lease agreements on office premises and vehicles that will be affected byimplementation of IFRS 16. For the Group, these lease commitments will result in the recognition of an asset(right-of-use) and a lease liability. The rental period is calculated based on the duration of the agreement plusany option periods if these with reasonable certainty will be exercised. Joint expenses etc. are not recognisedin the lease liability for the rental contracts. As permitted by IFRS 16, the Group chose to measure the right-of-use asset equal to the amount of the liabilityat the implementation date. The future payments under each lease arrangement have been discounted usingthe incremental borrowing rate applicable to the leased assets in order to calculate the lease liability recognizedon the date of adoption. The Group has used the following practical expedients when applying IFRS 16 to leases: \u2022 Applied the exemption not to recognise right-of-use assets and liabilities for leases with less than 12months of lease term \u2022 Excluded initial direct costs from measuring the right-of-use assets at the date of initial application \u2022 The liabilities were measured at the present value of the remaining lease payments, discounted usingthe lessee\u2019s incremental borrowing rate as of 1 January 2019. The weighted average lessee\u2019sincremental borrowing rate applied to the lease liabilities on January 1, 2019 was 5.0%.Right-of-use assets Buildings Vehicles TotalAcquisition cost January 1, 2022 64 048 386 64 434Addition of right-of-use assets 10 010 626 10 636Disposals -86 -86Acquisition cost December 31, 2022 74 058 926 74 984Accumulated depreciation and impairment Depreciation 2019 4 293 179 4 472Depreciation 2020 4 575 179 4 754Depreciation 2021 4 679 28 4 707Depreciation 2022 5 411 152 5 563Accumulated depreciation and impairment December 31, 2022 18 958 538 19 496Carrying amount of right-of-use assets December 31, 2022 55 101 388 55 48910 24-50 Lower of remaining lease term or economic life years months Lease liabilities Undiscounted lease liabilities and maturity of cash outflows Buildings Vehicles TotalLess than 1 year 7 534 153 7 6871-2 years 7 534 122 7 6562-3 years 7 534 74 7 6083-4 years 7 534 74 7 6084-5 years 7 534 12 7 546More than 5 years 34 467 0 34 467Total undiscounted lease liabilities at December 31, 2022 72 137 436 72 573Summary of the lease liabilities Buildings Vehicles TotalAt initial application 01.01.2022 54 402 0 54 402New lease liabilities recognised in the year 7 659 539 8 198Installment -7 092 -165 -7 257Interest expense on lease liabilities 2 824 23 2 847Total lease liabilities at December 31, 2022 57 793 397 58 190Current lease liabilities 4 084 133 4 217Non-current lease liabilities 53 708 264 53 973Total cash flow for leases 7 257The Group as lessor The Group\u2019s main activity is leasing of offshore tonnage. See overview as of April 26, 2023, below. Vessels, Contract expiry, Contract expiry, consolidated Contract type Customer fixed charterer's option Viking Lady Time charter Aker BP December, 2024 December, 2030 Viking Queen Time charter Wintershall May, 2024 April, 2027 Viking Avant Time charter Equinor December, 2025 December, 2028 Viking Energy Time charter Equinor April, 2025 April, 2030 Viking Prince Time charter Aker BP December, 2025 Viking Princess Time charter Wintershall January, 2024 January, 2026 Viking Wind Power Time charter Siemens Gamesa January, 2027 June, 2027 Subsea Viking Time charter Van Oord March, 2028 August, 2028 Viking Vanquish Sold in March 2023 Viking Vision Layup Veritas Viking Layup Vantage Layup Vessel in joint Contract expiry, Contract expiry, venture Contract type Customer fixed charterer's option Seven Viking Time charter Subsea 7 November, 2025 December, 2026 Future minimum lease terms per December 31, 2022, including all new contracts as at April 26, 2023, for consolidated vessels on firm contracts have the following maturity (NOK thousands): Next 1 year 513 000 1 to 5 years 973 000 After 5 years 13 000 Future minimum lease 1 499 000 The Group has operating lease contract on its vessels representing income. The leases have terms of between12 and 62 months. As payments from the lessee to the Group is determined based on the fixed day rate agreedin the contract, no portion of the payments varies other than the passage of time. ",
"dimensions": {
"concept": "ifrs-full:DisclosureOfDepreciationAndAmortisationExpenseExplanatory",
"language": "en",
"entity": "scheme:5967007LIEEXZXFOMO31",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"pp-value-25-6": {
"value": "2.5 Vessels, depreciation and other fixed assets Vessels and other fixed assets are recognised at historical cost minus accumulated depreciation andimpairments. Each part of the asset that has material share of the total cost is depreciated separately andlinearly over the useful life of the asset. Components with the same useful life are depreciated as onecomponent. The depreciation period and method are evaluated at each balance sheet date to ensure that themethod and the period used correspond with the financial realities for the asset. The same applies to scrapvalue, which is subject to an annual assessment. Estimated useful life: Vessels 15-30 years Property/fixtures 5-20 years Equipment 3-5 years Periodic maintenance 30-60 months Port facilities N/A At the time of delivery for new vessels, an amount corresponding to the expected cost at the first ordinaryclassification/periodic maintenance is separated. This amount is depreciated over the period until the nextdocking date. Costs associated with subsequent periodic maintenance are capitalised and depreciated until thenext periodic maintenance, generally over 30\u201360 months. Costs of ongoing maintenance and minor repairs andmaintenance are expensed as they incur. ",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForExpensesExplanatory",
"language": "en",
"entity": "scheme:5967007LIEEXZXFOMO31",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"pp-value-25-7": {
"value": "2.5 Vessels, depreciation and other fixed assets Vessels and other fixed assets are recognised at historical cost minus accumulated depreciation andimpairments. Each part of the asset that has material share of the total cost is depreciated separately andlinearly over the useful life of the asset. Components with the same useful life are depreciated as onecomponent. The depreciation period and method are evaluated at each balance sheet date to ensure that themethod and the period used correspond with the financial realities for the asset. The same applies to scrapvalue, which is subject to an annual assessment. Estimated useful life: Vessels 15-30 years Property/fixtures 5-20 years Equipment 3-5 years Periodic maintenance 30-60 months Port facilities N/A At the time of delivery for new vessels, an amount corresponding to the expected cost at the first ordinaryclassification/periodic maintenance is separated. This amount is depreciated over the period until the nextdocking date. Costs associated with subsequent periodic maintenance are capitalised and depreciated until thenext periodic maintenance, generally over 30\u201360 months. Costs of ongoing maintenance and minor repairs andmaintenance are expensed as they incur. ",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForDepreciationExpenseExplanatory",
"language": "en",
"entity": "scheme:5967007LIEEXZXFOMO31",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"pp-value-25-8": {
"value": "2.5 Vessels, depreciation and other fixed assets Vessels and other fixed assets are recognised at historical cost minus accumulated depreciation andimpairments. Each part of the asset that has material share of the total cost is depreciated separately andlinearly over the useful life of the asset. Components with the same useful life are depreciated as onecomponent. The depreciation period and method are evaluated at each balance sheet date to ensure that themethod and the period used correspond with the financial realities for the asset. The same applies to scrapvalue, which is subject to an annual assessment. Estimated useful life: Vessels 15-30 years Property/fixtures 5-20 years Equipment 3-5 years Periodic maintenance 30-60 months Port facilities N/A At the time of delivery for new vessels, an amount corresponding to the expected cost at the first ordinaryclassification/periodic maintenance is separated. This amount is depreciated over the period until the nextdocking date. Costs associated with subsequent periodic maintenance are capitalised and depreciated until thenext periodic maintenance, generally over 30\u201360 months. Costs of ongoing maintenance and minor repairs andmaintenance are expensed as they incur. 2.6 Assets held for sale Non-current assets held for sale consist of vessels that have been decided to be disposed of, by sale or otherwise. Noncurrent assets classified as held for sale are measured at the lower of their previous carrying amount and their fair value less costs of disposal. Any excess of the carrying amount over the fair value lesscost of disposal is recognized as an impairment loss. Depreciation of such assets is discontinued as from their classification as held for sale. 2.9 New builds Vessels under construction are capitalised as instalments are paid, along with costs directly associated withthe construction, such as supervision, other construction costs and interest on external financing during theconstruction period. The capitalised value is reclassified to vessels when the vessel is delivered from theshipyard and is ready for use. Depreciation of vessels starts on the same date. ",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForPropertyPlantAndEquipmentExplanatory",
"language": "en",
"entity": "scheme:5967007LIEEXZXFOMO31",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"pp-value-25-9": {
"value": "2.5 Vessels, depreciation and other fixed assets Vessels and other fixed assets are recognised at historical cost minus accumulated depreciation andimpairments. Each part of the asset that has material share of the total cost is depreciated separately andlinearly over the useful life of the asset. Components with the same useful life are depreciated as onecomponent. The depreciation period and method are evaluated at each balance sheet date to ensure that themethod and the period used correspond with the financial realities for the asset. The same applies to scrapvalue, which is subject to an annual assessment. Estimated useful life: Vessels 15-30 years Property/fixtures 5-20 years Equipment 3-5 years Periodic maintenance 30-60 months Port facilities N/A At the time of delivery for new vessels, an amount corresponding to the expected cost at the first ordinaryclassification/periodic maintenance is separated. This amount is depreciated over the period until the nextdocking date. Costs associated with subsequent periodic maintenance are capitalised and depreciated until thenext periodic maintenance, generally over 30\u201360 months. Costs of ongoing maintenance and minor repairs andmaintenance are expensed as they incur. 2.7 Impairment of fixed assets The book value of tangible fixed assets is assessed for impairment when events or changes in circumstancesindicate that book value cannot be recovered. If such indications are discovered, and the book value exceedsthe recoverable amount, the asset is impaired to the recoverable amount, which for tangible fixed assets is thehigher of expected net sales price and value in use. Value in use is calculated as the present value of futurecash flows. If the reason for the impairment lapses at a later time, and the lapse can be tied to an event takingplace after the impairment is recognised, the previous impairment is reversed. ",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForImpairmentOfAssetsExplanatory",
"language": "en",
"entity": "scheme:5967007LIEEXZXFOMO31",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"pp-value-26-4": {
"value": "2.6 Assets held for sale Non-current assets held for sale consist of vessels that have been decided to be disposed of, by sale or otherwise. Noncurrent assets classified as held for sale are measured at the lower of their previous carrying amount and their fair value less costs of disposal. Any excess of the carrying amount over the fair value lesscost of disposal is recognized as an impairment loss. Depreciation of such assets is discontinued as from their classification as held for sale. 2.25 Discontinued operations \u2013 assets and liabilities held for sale Non-current assets (or disposal groups) are classified as \u2018held for sale\u2019 when the capitalised amount is mainlyrealised through a sales transaction, and a sale is considered highly likely. They are measured at the lower ofcapitalised value and fair value minus sales costs. ",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForNoncurrentAssetsOrDisposalGroupsClassifiedAsHeldForSaleExplanatory",
"language": "en",
"entity": "scheme:5967007LIEEXZXFOMO31",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"pp-value-27-2": {
"value": "Leases The Group assesses at contract inception whether a contract is, or contains, a lease. That is, if the contractconveys the right to control the use of an identified asset for a period of time in exchange for consideration. Group as a lessee The Group applies a single recognition and measurement approach for all leases, except for short-term leasesand leases of low-value assets. The Group 9ecognized lease liabilities to make lease payments and right-of-use assets representing the right to use the underlying assets. i)Right-of-use assets The Group 9ecognized right-of-use assets at the commencement date of the lease (i.e., the date the underlyingasset is available for use). Right-of-use assets are measured at cost, less any accumulated depreciation andimpairment losses, and adjusted for any remeasurement of lease liabilities. The cost of right-of-use assetsincludes the amount of lease liabilities 9ecognized, initial direct costs incurred, and lease payments made ator before the commencement date less any lease incentives received. Right-of-use assets are depreciated ona straight-line basis over the shorter of the lease term and the estimated useful life of the assets, as follows: Buildings 0,5-32 years Vehicles 8-17 months If ownership of the leased asset transfers to the Group at the end of the lease term or the cost reflects theexercise of a purchase option, depreciation is calculated using the estimated useful life of the asset. ii) Lease liabilities At the commencement date of the lease, the Group recognises lease liabilities measured at the present valueof lease payments to be made over the lease term. The lease payments include fixed payments (includinginsubstance fixed payments) less any lease incentives receivable, variable lease payments that depend on anindex or a rate, and amounts expected to be paid under residual value guarantees. The lease payments alsoinclude the exercise price of a purchase option reasonably certain to be exercised by the Group and paymentsof penalties for terminating the lease, if the lease term reflects the Group exercising the option to terminate.Variable lease payments that do not depend on an index or a rate are recognised as expenses (unless they areincurred to produce inventories) in the period in which the event or condition that triggers the payment occurs.In calculating the present value of lease payments, the Group uses its incremental borrowing rate at the leasecommencement date because the interest rate implicit in the lease is not readily determinable. After thecommencement date, the amount of lease liabilities is increased to reflect the accretion of interest and reducedfor the lease payments made. In addition, the carrying amount of lease liabilities is remeasured if there is amodification, a change in the lease term, a change in the lease payments (e.g., changes to future paymentsresulting from a change in an index or rate used to determine such lease payments) or a change in theassessment of an option to purchase the underlying asset. iii) Short-term leases and leases of low-value assets The Group applies the short-term lease recognition exemption to its short-term leases of machinery andequipment (i.e. those leases that have a lease term of 12 months or less from the commencement date and donot contain a purchase option). It also applies the lease of low-value assets recognition exemption to leases ofoffice equipment that are considered to be low value. Lease payments on short-term leases and leases of low-value assets are recognised as expense on a straight-line basis over the lease term. Group as a lessor Leases in which the Group does not transfer substantially all the risks and rewards incidental to ownership ofan asset are classified as operating leases. Rental income arising is accounted for on a straight-line basis overthe lease terms and is included in revenue in the statement of profit or loss due to its operating nature. Initialdirect costs incurred in negotiating and arranging an operating lease are added to the carrying amount of theleased asset and recognised over the lease term on the same basis as rental income. Contingent rents arerecognised as revenue in the period in which they are earned. NOTE 22 - LEASES (NOK thousands) Right-of-use assets IFRS 16 \u201cLeases\u201d sets out the principles for the recognition, measurement and disclosure requirements for bothparties to a lease contract. IFRS 16 is effective for reporting periods beginning on or after January 1, 2019.The Group adopted IFRS 16 on the effective date using a modified retrospective approach and will not restatecomparative information. The Group is both a lessor, as it charters vessels to customers, and a lessee. The new requirements result insignificant changes to the accounting model applied by lessees and will primarily affect the Group\u2019s accountingfor the operating leases as a lessee. The accounting for lessors will not significantly change. To determine whether a contract contains a lease, it is considered whether the contract conveys the right tocontrol the use of an identified asset. This is for the Group considered to only be the case for office leases andvehicles. The Group has long term lease agreements on office premises and vehicles that will be affected byimplementation of IFRS 16. For the Group, these lease commitments will result in the recognition of an asset(right-of-use) and a lease liability. The rental period is calculated based on the duration of the agreement plusany option periods if these with reasonable certainty will be exercised. Joint expenses etc. are not recognisedin the lease liability for the rental contracts. As permitted by IFRS 16, the Group chose to measure the right-of-use asset equal to the amount of the liabilityat the implementation date. The future payments under each lease arrangement have been discounted usingthe incremental borrowing rate applicable to the leased assets in order to calculate the lease liability recognizedon the date of adoption. The Group has used the following practical expedients when applying IFRS 16 to leases: \u2022 Applied the exemption not to recognise right-of-use assets and liabilities for leases with less than 12months of lease term \u2022 Excluded initial direct costs from measuring the right-of-use assets at the date of initial application \u2022 The liabilities were measured at the present value of the remaining lease payments, discounted usingthe lessee\u2019s incremental borrowing rate as of 1 January 2019. The weighted average lessee\u2019sincremental borrowing rate applied to the lease liabilities on January 1, 2019 was 5.0%.Right-of-use assets Buildings Vehicles TotalAcquisition cost January 1, 2022 64 048 386 64 434Addition of right-of-use assets 10 010 626 10 636Disposals -86 -86Acquisition cost December 31, 2022 74 058 926 74 984Accumulated depreciation and impairment Depreciation 2019 4 293 179 4 472Depreciation 2020 4 575 179 4 754Depreciation 2021 4 679 28 4 707Depreciation 2022 5 411 152 5 563Accumulated depreciation and impairment December 31, 2022 18 958 538 19 496Carrying amount of right-of-use assets December 31, 2022 55 101 388 55 48910 24-50 Lower of remaining lease term or economic life years months Lease liabilities Undiscounted lease liabilities and maturity of cash outflows Buildings Vehicles TotalLess than 1 year 7 534 153 7 6871-2 years 7 534 122 7 6562-3 years 7 534 74 7 6083-4 years 7 534 74 7 6084-5 years 7 534 12 7 546More than 5 years 34 467 0 34 467Total undiscounted lease liabilities at December 31, 2022 72 137 436 72 573Summary of the lease liabilities Buildings Vehicles TotalAt initial application 01.01.2022 54 402 0 54 402New lease liabilities recognised in the year 7 659 539 8 198Installment -7 092 -165 -7 257Interest expense on lease liabilities 2 824 23 2 847Total lease liabilities at December 31, 2022 57 793 397 58 190Current lease liabilities 4 084 133 4 217Non-current lease liabilities 53 708 264 53 973Total cash flow for leases 7 257The Group as lessor The Group\u2019s main activity is leasing of offshore tonnage. See overview as of April 26, 2023, below. Vessels, Contract expiry, Contract expiry, consolidated Contract type Customer fixed charterer's option Viking Lady Time charter Aker BP December, 2024 December, 2030 Viking Queen Time charter Wintershall May, 2024 April, 2027 Viking Avant Time charter Equinor December, 2025 December, 2028 Viking Energy Time charter Equinor April, 2025 April, 2030 Viking Prince Time charter Aker BP December, 2025 Viking Princess Time charter Wintershall January, 2024 January, 2026 Viking Wind Power Time charter Siemens Gamesa January, 2027 June, 2027 Subsea Viking Time charter Van Oord March, 2028 August, 2028 Viking Vanquish Sold in March 2023 Viking Vision Layup Veritas Viking Layup Vantage Layup Vessel in joint Contract expiry, Contract expiry, venture Contract type Customer fixed charterer's option Seven Viking Time charter Subsea 7 November, 2025 December, 2026 Future minimum lease terms per December 31, 2022, including all new contracts as at April 26, 2023, for consolidated vessels on firm contracts have the following maturity (NOK thousands): Next 1 year 513 000 1 to 5 years 973 000 After 5 years 13 000 Future minimum lease 1 499 000 The Group has operating lease contract on its vessels representing income. The leases have terms of between12 and 62 months. As payments from the lessee to the Group is determined based on the fixed day rate agreedin the contract, no portion of the payments varies other than the passage of time. ",
"dimensions": {
"concept": "ifrs-full:DisclosureOfLeasesExplanatory",
"language": "en",
"entity": "scheme:5967007LIEEXZXFOMO31",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"pp-value-27-4": {
"value": "Leases The Group assesses at contract inception whether a contract is, or contains, a lease. That is, if the contractconveys the right to control the use of an identified asset for a period of time in exchange for consideration. Group as a lessee The Group applies a single recognition and measurement approach for all leases, except for short-term leasesand leases of low-value assets. The Group 9ecognized lease liabilities to make lease payments and right-of-use assets representing the right to use the underlying assets. i)Right-of-use assets The Group 9ecognized right-of-use assets at the commencement date of the lease (i.e., the date the underlyingasset is available for use). Right-of-use assets are measured at cost, less any accumulated depreciation andimpairment losses, and adjusted for any remeasurement of lease liabilities. The cost of right-of-use assetsincludes the amount of lease liabilities 9ecognized, initial direct costs incurred, and lease payments made ator before the commencement date less any lease incentives received. Right-of-use assets are depreciated ona straight-line basis over the shorter of the lease term and the estimated useful life of the assets, as follows: Buildings 0,5-32 years Vehicles 8-17 months If ownership of the leased asset transfers to the Group at the end of the lease term or the cost reflects theexercise of a purchase option, depreciation is calculated using the estimated useful life of the asset. ii) Lease liabilities At the commencement date of the lease, the Group recognises lease liabilities measured at the present valueof lease payments to be made over the lease term. The lease payments include fixed payments (includinginsubstance fixed payments) less any lease incentives receivable, variable lease payments that depend on anindex or a rate, and amounts expected to be paid under residual value guarantees. The lease payments alsoinclude the exercise price of a purchase option reasonably certain to be exercised by the Group and paymentsof penalties for terminating the lease, if the lease term reflects the Group exercising the option to terminate.Variable lease payments that do not depend on an index or a rate are recognised as expenses (unless they areincurred to produce inventories) in the period in which the event or condition that triggers the payment occurs.In calculating the present value of lease payments, the Group uses its incremental borrowing rate at the leasecommencement date because the interest rate implicit in the lease is not readily determinable. After thecommencement date, the amount of lease liabilities is increased to reflect the accretion of interest and reducedfor the lease payments made. In addition, the carrying amount of lease liabilities is remeasured if there is amodification, a change in the lease term, a change in the lease payments (e.g., changes to future paymentsresulting from a change in an index or rate used to determine such lease payments) or a change in theassessment of an option to purchase the underlying asset. iii) Short-term leases and leases of low-value assets The Group applies the short-term lease recognition exemption to its short-term leases of machinery andequipment (i.e. those leases that have a lease term of 12 months or less from the commencement date and donot contain a purchase option). It also applies the lease of low-value assets recognition exemption to leases ofoffice equipment that are considered to be low value. Lease payments on short-term leases and leases of low-value assets are recognised as expense on a straight-line basis over the lease term. Group as a lessor Leases in which the Group does not transfer substantially all the risks and rewards incidental to ownership ofan asset are classified as operating leases. Rental income arising is accounted for on a straight-line basis overthe lease terms and is included in revenue in the statement of profit or loss due to its operating nature. Initialdirect costs incurred in negotiating and arranging an operating lease are added to the carrying amount of theleased asset and recognised over the lease term on the same basis as rental income. Contingent rents arerecognised as revenue in the period in which they are earned. ",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForLeasesExplanatory",
"language": "en",
"entity": "scheme:5967007LIEEXZXFOMO31",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"pp-value-29-5": {
"value": "2.7 Impairment of fixed assets The book value of tangible fixed assets is assessed for impairment when events or changes in circumstancesindicate that book value cannot be recovered. If such indications are discovered, and the book value exceedsthe recoverable amount, the asset is impaired to the recoverable amount, which for tangible fixed assets is thehigher of expected net sales price and value in use. Value in use is calculated as the present value of futurecash flows. If the reason for the impairment lapses at a later time, and the lapse can be tied to an event takingplace after the impairment is recognised, the previous impairment is reversed. ",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForImpairmentOfNonfinancialAssetsExplanatory",
"language": "en",
"entity": "scheme:5967007LIEEXZXFOMO31",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"pp-value-30-2": {
"value": "2.8 Sale of vessels Profit or loss on the sale of vessels is recorded on the line of other income.2.20 Public subsidies Subsidies from the net pay scheme and the reimbursement scheme for seamen are recorded as a cost reduction(under \u201cpayroll expenses\u201d). NOTE 5 \u2013 OTHER INCOME (NOK thousands) 2022 2021 Dividend from \u00abDen Norske Krigsforsikring \u00ab 0 4 025 Reversal of previous write-downs related to receivables 14 102 12 350 from JVs Gain/loss on the sale of vessels 269 723 1 942 Other income 283 826 18 317 Other income of MNOK 283.8 (18.3) is related to the reversal of previous impairments on repayments receivedagainst the claim against Oceanic Seismic Vessels AS MNOK 14.1; see note 13. MNOK 269.7 is associatedwith the sale of Viking Neptun in November 2022. NOTE 6 \u2013 OTHER OPERATING EXPENSES (NOK thousands) 2022 2021 Technical operation of vessels 89 742 82 940 Insurance 13 774 13 107 Communication costs 6 726 5 734 Administrative costs 11 668 34 233 Other operating expenses 121 910 136 014 Technical operation of vessels includes ongoing operating costs and maintenance of the Group\u2019s vessels;classification costs are capitalised and depreciated until the next classification and so do not appear as aseparate operating cost. Administration costs consist mainly of travel, consultancy, legal, audit, leasing and other office costs. ",
"dimensions": {
"concept": "ifrs-full:DisclosureOfOtherOperatingIncomeExpenseExplanatory",
"language": "en",
"entity": "scheme:5967007LIEEXZXFOMO31",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"pp-value-30-3": {
"value": "2.8 Sale of vessels Profit or loss on the sale of vessels is recorded on the line of other income.NOTE 5 \u2013 OTHER INCOME (NOK thousands) 2022 2021 Dividend from \u00abDen Norske Krigsforsikring \u00ab 0 4 025 Reversal of previous write-downs related to receivables 14 102 12 350 from JVs Gain/loss on the sale of vessels 269 723 1 942 Other income 283 826 18 317 Other income of MNOK 283.8 (18.3) is related to the reversal of previous impairments on repayments receivedagainst the claim against Oceanic Seismic Vessels AS MNOK 14.1; see note 13. MNOK 269.7 is associatedwith the sale of Viking Neptun in November 2022. ",
"dimensions": {
"concept": "ifrs-full:DisclosureOfOtherOperatingIncomeExplanatory",
"language": "en",
"entity": "scheme:5967007LIEEXZXFOMO31",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"pp-value-30-5": {
"value": "2.8 Sale of vessels Profit or loss on the sale of vessels is recorded on the line of other income.a) Sale of services Except for the seismic fleet, most of the Group\u2019s vessels have been contracted on time charters (TC) throughoutthe year. This means that the charter is agreed as a lease of a vessel with crew. The charterer decides (withinagreed limitations) how the vessel is to be used. The time charter lapses in periods when the vessel is notoperational (is \u201coff hire\u201d), e.g. during repairs. The shipping company pays for the crew, supplies, insurance,repairs, administration, etc., while the charterer pays the \u201cvoyage-dependent\u201d expenses such as bunkers, portfees and expenses for loading and unloading. In addition to leasing the vessel, there may be agreements for additional services in the form of hiring extracrew, sale of provisions and coverage of other operating expenses. Lease income for leasing vessels is recognised on a linear basis through the lease period. The lease periodstarts from the date when the vessel is at the lessee\u2019s disposal, and ends with its agreed return. Lease of crew and payments to cover other operating expenses are recognised on a linear basis through thecontract period When a contract is cancelled, the remaining contract is recorded as income when the vessel is returned. ",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForRecognitionOfRevenue",
"language": "en",
"entity": "scheme:5967007LIEEXZXFOMO31",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"pp-value-31-2": {
"value": "2.9 New builds Vessels under construction are capitalised as instalments are paid, along with costs directly associated withthe construction, such as supervision, other construction costs and interest on external financing during theconstruction period. The capitalised value is reclassified to vessels when the vessel is delivered from theshipyard and is ready for use. Depreciation of vessels starts on the same date. NOTE 12 \u2013 TANGIBLE FIXED ASSETS 2022: Total Operating other Periodic Port equipmenfixed maintenaTotal New build (NOK thousands) Property facilities t assets Vessels nce vessels contracts Total (*)Acquisition cost 1 January 2022 37 414 3 594 42 559 83 567 5 890 541 359 633 6 250 174 0 6 333 741Addition 0 0 372 372 45 266 56 183 101 448 0 101 821Disposal 0 0 -2 700 -2 700 -1 288 357 -61 268 -1 349 625 0 -1 352 32531 December 2022 37 414 3 594 40 231 81 239 4 647 450 354 548 5 001 998 0 5 083 236Accumulated depreciation and impairments 1 January 2022 19 624 3 494 39 926 63 044 4 034 132 285 076 4 319 208 0 4 382 251Depreciation in the year 180 0 93 273 87 156 49 978 137 134 0 137 407Impairment for the year 0 0 0 0 16 053 0 16 053 0 16 053Reversal of previous 0 0 0 0 -225 290 0 -225 290 0 -225 290impairment for the year Disposals 0 0 -625 -625 -344 232 -44 350 -388 582 0 -389 20831 December 2022 19 804 3 494 39 393 62 692 3 567 818 290 704 3 858 522 0 3 921 214Book value 17 610 100 837 18 547 1 079 632 63 844 1 143 475 0 1 162 0232021: Total other Periodic Port Operating fixed maintenanTotal New build (NOK thousands) Property facilities equipment assets Vessels ce vessels contracts Total (*)Acquisition cost 1 January 2021 37 414 3 717 42 529 83 660 5 989 257 352 385 6 341 641 0 6 425 301Addition 0 0 31 31 51 621 36 899 88 521 0 88 551Disposal 0 -123 0 -123 -150 336 -29 651 -179 988 0 -180 11131 December 2021 37 414 3 594 42 559 83 567 5 890 541 359 633 6 250 174 0 6 333 741Accumulated depreciation and impairments 1 January 2021 19 443 3 494 39 277 62 215 4 170 167 248 592 4 418 759 0 4 480 974Depreciation in the year 180 0 648 829 140 026 62 399 202 425 0 203 254Impairment for the year 0 0 0 0 76 894 0 76 894 0 76 894Reversal of previous impairment for the year -220 6910 0 0 0 -220 691 0 -220 691 0 Disposals 0 0 0 0 -132 265 -25 915 -158 180 0 -158 18031 December 2021 19 624 3 494 39 926 63 044 4 034 132 285 076 4 319 208 0 4 382 251Book value 17 790 100 2 633 20 523 1 856 410 74 557 1 930 965 0 1 951 490(*) right-of-use assets TNOK 55 489 and depreciation TNOK 5 563 is not included in the table above. Refer to note 22 IFRS 16, Lease. Please refer to Note 20 for information on mortgaged assets. Refer to Note 2, point 2.5, for details of depreciation periods for vessels and lumping together of components. The Company has in November 2022 sold the Subsea/Wind vessel Viking Neptun, the sale generated a gain of MNOK 269.7. The PSV Viking Athene was sold in April 2021, and sale generated a gain of MNOK 1.9. All four seismic vessels are classified as held-for-sale. In determining whether the decisions of sale of the vessels are assessed as discontinued operations or asset held for sale, the Group have concluded that the seismic operations is not a major line of business. The assessment made is based on the fact that the seismic operation\u2019s representative share of the Group\u2019s total revenue is not viewed as significant (4% for 2022). Consistently discontinued operations is not applicable, and the vessels are classified as asset held for sale in accordance with IFRS 5. All four seismic vessels are classified as held-for-sale and are included in the table above. Refer to note 20 for Liabilities related to Assets held for sale. Property/port facilities include plots/land valued at MNOK 17.7 (MNOK 17.9) which are not depreciated. Impairment tests are performed on individual cash generating entities (vessels) when indications of impairment or reversal of previous impairments are identified. Due to observed indicators, such as improved market conditions and increase in market interest rates, the vessels\u2019 book values have been tested for impairment and reversal of previous impairments at all quarter end during 2022. Based on these tests, Eidesvik recognized a net reversal of impairment of MNOK 209.2 during 2022. Of this, MNOK 36.6 was related to reversal of impairment of one subsea/offshore wind vessel, and MNOK 188.6 is related to reversal of impairments of five PSVs. In addition, one seismic vessel was impaired with MNOK 16.0. The Group monitors the presence of impairment indicators during the periodical financial reporting, and thus may update its assessments of impairments to reflect further changes in the underlying market assumptions. Broker estimates are not used as an approximate sales value on the balance sheet date as there are few observed sales of the type of vessels the Company owns. For the assessment of value in use, expected future cash flows are used, discounted to net present value using a discount rate before taxes reflecting the market-based time value of money, as well as risk specific to the asset. The discount rate is derived from a weighted average cost of capital (WACC) for market players. The average WACC used in the calculations per December 31, 2022, is 9.2%. This takes into account that the Group\u2019s business is mainly within the tonnage tax system, and the calculated WACC is assumed to apply both before and after tax. The capital structure used in the weighted average cost of capital is based on an assumed capital structure in comparable companies with similar assets in a normal situation. Equity cost is based on the expected required rate of return for the Group\u2019s investors. Debt costs are based on the risk-free interest rate, plus a premium equivalent to the difference between risk-free rate and market rates. The beta factors are evaluated quarterly when deemed necessary, and otherwise at least annually, on the basis of publicly availablemarket data for identified comparable companies and the main index on the Oslo Stock Exchange. Future cash flows are estimated on the basis of estimated remaining useful life, which may exceed 5 years.The cash flows used in the impairment tests for 2022 are based on and reconciled against the financial forecastswhich the Group uses for internal planning purposes as well as present to its lenders. Important elements inestimated cash flows are the long-term inflation rate, the contract situation (order backlog), the utilization rate,ordinary operating expenses, periodic maintenance (docking), charter rates, and exchange rates. In 2022, the Seismic segment had an impairment charge of MNOK 16.0 (recoverable amount MNOK 106.7), theSubsea/Offshore Wind segment had a reversal impairment of MNOK 36.6 (MNOK 443.4), and the Supplysegment had a reversal of MNOK 188.6 (MNOK 989.0). In 2021, net reversal of previous impairments of MNOK143.8 were charged. There is significant uncertainty associated with the assumptions for the value in use calculations. Thecalculation is based on market prospects which are weak in all three segments in the short and medium term.On a general view, it is considered that the seismic survey market will see a few years after the balance sheetdate where layups or reduced rates must be expected for the vessels that are not on fixed contracts. The sameconsiderations apply to the subsea and supply markets. The expected future earnings used in the calculations are implicitly adjusted for utilisation rate adapted to thisgeneral market view. Therefore, sensitivity calculations have also been performed for the value in usecalculations and the impaired amounts, in order to highlight the uncertainty in the calculations. If the utilisation rate for the entire fleet are assumed to be reduced by 5 percentage points on uncontractedincome, the impairment would not be affected. If the WACC assumed had increased to 10.5%, the impairmentcharge would not be affected. Climate-related matters The Group constantly monitors the latest regulatory changes in relation to climate-related matters. The Group has already invested in hybrid battery solutions for the majority of its fleet. For further green fuelsand technologies to reduce CO2 emission for the fleet the Group continues to investigate this together with ourcustomers, suppliers and also follow up on possibilities for public funding. Forecast for the vessels includegreen investments to the extent relevant and are therefore included in assessment of impairment and reversalof impairment. The investments done by the Group so far with focus on reduction in CO2 has historicallycontributed to securing long term contracts for the vessels in particular in periods where there has been excesscapacity in the market. Higher fuel price due to CO2 levels or the cost of green fuels will for the most part beforwarded to the customer, hence there is limited impact in the Group\u2019s OPEX short term. For the Group\u2019s long term sustainability goals of 50% reduction in CO2 in 2030, and climate neutral in 2050 tobe met, both newbuild programs and new technology has to be implemented and yield appropriate returns. Longterm investments are evaluated on this basis. In the current market, with the existing fleet in the industry, current new build plans and commercial maturityof new emission technology there is no impact on residual values or useful life of the Group\u2019s existing vessels.All the Group\u2019s vessels comply with current environmental requirements. Reference is also made to Note 2.27d). ",
"dimensions": {
"concept": "ifrs-full:DisclosureOfPropertyPlantAndEquipmentExplanatory",
"language": "en",
"entity": "scheme:5967007LIEEXZXFOMO31",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"pp-value-32-2": {
"value": "2.10 Financial assets Financial assets are classified, at initial recognition, as subsequently measured at amortised cost, fair valuethrough other comprehensive income (OCI), and fair value through profit or loss. Fair value through othercomprehensive income (OCI) is not relevant for the Group. The Group uses derivatives such as currency contracts and interest swaps to reduce the risk associated withcurrency and interest rate fluctuations. The derivatives are presented as an asset with a positive value or aliability with a negative value. a) Financial assets at fair value through profit and lossA financial asset is classified in this category if it is acquired primarily to make a profit from short-term pricefluctuations, or if the management chooses to classify it in this category. Derivatives are also classified as \u2018heldfor trading\u2019. Assets in this category are classified as current assets if they are held for trading or if they areexpected to be realised within 12 months after the balance sheet date. Profit or loss from changes in fair value of assets classified as \u201cfinancial assets at fair value through profit andloss\u201d, including interest income and dividends, is included in the income statement under \u201cchange in value,derivatives\u201d in the period where they occur. b) Financial assets at amortised costIn order for a financial asset to be classified and measured at amortised cost or fair value through OCI, it needsto give rise to cash flows that are \u201csolely payments of principal and interest\u201d (\u201cSPPI\u201d) on the principal amountoutstanding. This assessment is referred to as the SPPI test and is performed at an instrument level. Financialassets with cash flows that are not SPPI are classified and measured at fair value through profit or loss,irrespective of the business model. Loans and receivables are non-derivative financial assets with fixedpayments that are not traded on an active market. They are classified as current assets, unless they maturemore than 12 months after the balance sheet date. In such cases, they are classified as non-current assets.Loans and receivables are classified as accounts receivable and other receivables on the balance sheet. Ordinary acquisitions and sales of investments are recognised at the date of the transaction. All financial assetsthat are not recognised at fair value through profit and loss are initially recorded at fair value plus transactioncosts. The exception is accounts receivable, which are recognised for the first time at the transaction price inaccordance with IFRS 15, ref. IFRS 9.1.5.3. Financial assets recognised at fair value through profit and lossare recognised on acquisition at fair value and transaction costs are posted to expenses. Investments areremoved from the balance sheet when the entitlement to cash flows from the investments cease, or when suchentitlement is transferred and the Group has basically transferred all risk and all potential profit from ownership.Financial assets available for sale and financial assets at fair value through the profit and loss account arevaluated at fair value after the first recognition. Loans and receivables are recognised at amortised cost usingthe effective interest method. The Group recognises an allowance for expected credit losses (ECLs) for all debt Instruments not held at fairvalue through profit or loss. ECLs are based on the difference between the contractual cash flows due inaccordance with the contract and all the cash flows that the Group expects to receive, discounted at anapproximation of the original effective interest rate. The expected cash flows will include cash flows from thesale of collateral held or other credit enhancements that are integral to the contractual terms. NOTE 23 - FINANCIAL INSTRUMENTS(NOK thousands) Capitalised financial assets and liabilities Capitalised value equals fair value, except for loans. For details of fair value loans, see the section on \u201cInterest\u201d below. The Group does not practise hedge accounting, financial derivatives held for financial hedging which are recorded at fair value. 31.12.2022 31.12.2021Assets Market-based shares for trading 9 9Currency derivatives 0 363Interest derivatives 62 180 17 042Accounts receivable (Note 14) 141 759 130 942Cash and cash equivalents (Note 16) 655 653 330 401Other long-term receivables, OSEV 39 769 51 178Total 899 370 529 934Liabilities Interest rate derivatives 0 6 677Loans (Note 20) 1 139 476 1 976 112Total 1 139 476 1 982 789Currency The Group has entered into currency derivative contracts as part of the management of the Group\u2019s currency exposure. The Group has no currency derivatives per December 31, 2022. At December 31, 2021 Currency sold Amount Maturity Exchange rate Fair value(average) (MTM)Currency derivatives Currency futures for the sale of current cash flow EUR 1 220 2022 10,2987 3633631 220 All currency futures are recorded at fair value. Interest The Group has the following fixed rate agreements: At December 31, 2022 Annual Fair value downscalin(incl. g before NOK accrued maturity Type Currency Floor Cap/Swap Maturity principal interest) (average) Fixed rate loan NOK 3,36 % 27.03.2024 132 329 Variable Fixed rate loan NOK 3,41 % 13.09.2024 148 146 Variable Cap NOK 1,00 % 01.07.2025 150 000 8 993 None Cap NOK 1,00 % 15.07.2025 150 000 9 092 None Cap USD 1,00 % 01.07.2025 246 433 22 154 None Cap USD 1,00 % 15.07.2025 246 433 21 942 None Unhedged 66 135 Total liabilities, hedged and 1 139 476 62 180 unhedged The Group has in Q1 2023 unwinded the two caps in USD. At December 31, 2021 Annual Fair value downscaling (incl. before NOK accrued maturity Type Currency Floor Cap/Swap Maturity principal interest) (average) Fixed rate loan NOK 3,36 % 27.03.2024 142 392 Variable Fixed rate loan NOK 3,41 % 13.09.2024 158 355 Variable Swap USD 2,36 % 21.11.2022 176 388 -3 480 None Swap USD 2,27 % 12.12.2022 176 388 -3 197 None Cap NOK 1,00 % 01.07.2025 150 000 4 376 None Cap NOK 1,00 % 15.07.2025 150 000 4 382 None Cap USD 1,00 % 01.07.2025 220 485 4 231 None Cap USD 1,00 % 15.07.2025 220 485 4 053 None Unhedged 581 620 Total liabilities, hedged and unhedged 1 976 112 10 365 At December 31, 2022, 94% (71%) of the Group\u2019s loans were at fixed interest or swap/cap. The Group has two fixed-interest loans in NOK with a maturity of 12 years originally (CIRR), which are recorded at amortised cost in the balance sheet. If these loans were to be refinanced today with a new margin and money market rate, and retained the same repayment profile, the net present value of the difference between the current interest payments and the refinanced interest payments would be MNOK -3.0 (level 2, see Note 3). If these loans were recorded at fair value, they would have been reported correspondingly lower. See Note 20 for information on long-term loans. Other information No financial assets have been reclassified such that the valuation method has been changed from amortisedcost to fair value, or vice versa. For assessment of fair value (MTM), see Note 3. ",
"dimensions": {
"concept": "ifrs-full:DisclosureOfFairValueOfFinancialInstrumentsExplanatory",
"language": "en",
"entity": "scheme:5967007LIEEXZXFOMO31",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"pp-value-32-3": {
"value": "2.10 Financial assets Financial assets are classified, at initial recognition, as subsequently measured at amortised cost, fair valuethrough other comprehensive income (OCI), and fair value through profit or loss. Fair value through othercomprehensive income (OCI) is not relevant for the Group. The Group uses derivatives such as currency contracts and interest swaps to reduce the risk associated withcurrency and interest rate fluctuations. The derivatives are presented as an asset with a positive value or aliability with a negative value. a) Financial assets at fair value through profit and lossA financial asset is classified in this category if it is acquired primarily to make a profit from short-term pricefluctuations, or if the management chooses to classify it in this category. Derivatives are also classified as \u2018heldfor trading\u2019. Assets in this category are classified as current assets if they are held for trading or if they areexpected to be realised within 12 months after the balance sheet date. Profit or loss from changes in fair value of assets classified as \u201cfinancial assets at fair value through profit andloss\u201d, including interest income and dividends, is included in the income statement under \u201cchange in value,derivatives\u201d in the period where they occur. b) Financial assets at amortised costIn order for a financial asset to be classified and measured at amortised cost or fair value through OCI, it needsto give rise to cash flows that are \u201csolely payments of principal and interest\u201d (\u201cSPPI\u201d) on the principal amountoutstanding. This assessment is referred to as the SPPI test and is performed at an instrument level. Financialassets with cash flows that are not SPPI are classified and measured at fair value through profit or loss,irrespective of the business model. Loans and receivables are non-derivative financial assets with fixedpayments that are not traded on an active market. They are classified as current assets, unless they maturemore than 12 months after the balance sheet date. In such cases, they are classified as non-current assets.Loans and receivables are classified as accounts receivable and other receivables on the balance sheet. Ordinary acquisitions and sales of investments are recognised at the date of the transaction. All financial assetsthat are not recognised at fair value through profit and loss are initially recorded at fair value plus transactioncosts. The exception is accounts receivable, which are recognised for the first time at the transaction price inaccordance with IFRS 15, ref. IFRS 9.1.5.3. Financial assets recognised at fair value through profit and lossare recognised on acquisition at fair value and transaction costs are posted to expenses. Investments areremoved from the balance sheet when the entitlement to cash flows from the investments cease, or when suchentitlement is transferred and the Group has basically transferred all risk and all potential profit from ownership.Financial assets available for sale and financial assets at fair value through the profit and loss account arevaluated at fair value after the first recognition. Loans and receivables are recognised at amortised cost usingthe effective interest method. The Group recognises an allowance for expected credit losses (ECLs) for all debt Instruments not held at fairvalue through profit or loss. ECLs are based on the difference between the contractual cash flows due inaccordance with the contract and all the cash flows that the Group expects to receive, discounted at anapproximation of the original effective interest rate. The expected cash flows will include cash flows from thesale of collateral held or other credit enhancements that are integral to the contractual terms. 2.11 Derivatives and hedging The Group does not use accounting hedging, and none of the Group\u2019s derivatives are designated hedginginstruments. The Group recognises derivatives at fair value with value changes through profit/loss. The purposeof the derivatives is to secure the Group\u2019s cash flow against fluctuations in interest and exchange rates. Referto Note 23 for an overview of the Group\u2019s derivatives at 31.12.2022. NOTE 23 - FINANCIAL INSTRUMENTS(NOK thousands) Capitalised financial assets and liabilities Capitalised value equals fair value, except for loans. For details of fair value loans, see the section on \u201cInterest\u201d below. The Group does not practise hedge accounting, financial derivatives held for financial hedging which are recorded at fair value. 31.12.2022 31.12.2021Assets Market-based shares for trading 9 9Currency derivatives 0 363Interest derivatives 62 180 17 042Accounts receivable (Note 14) 141 759 130 942Cash and cash equivalents (Note 16) 655 653 330 401Other long-term receivables, OSEV 39 769 51 178Total 899 370 529 934Liabilities Interest rate derivatives 0 6 677Loans (Note 20) 1 139 476 1 976 112Total 1 139 476 1 982 789Currency The Group has entered into currency derivative contracts as part of the management of the Group\u2019s currency exposure. The Group has no currency derivatives per December 31, 2022. At December 31, 2021 Currency sold Amount Maturity Exchange rate Fair value(average) (MTM)Currency derivatives Currency futures for the sale of current cash flow EUR 1 220 2022 10,2987 3633631 220 All currency futures are recorded at fair value. Interest The Group has the following fixed rate agreements: At December 31, 2022 Annual Fair value downscalin(incl. g before NOK accrued maturity Type Currency Floor Cap/Swap Maturity principal interest) (average) Fixed rate loan NOK 3,36 % 27.03.2024 132 329 Variable Fixed rate loan NOK 3,41 % 13.09.2024 148 146 Variable Cap NOK 1,00 % 01.07.2025 150 000 8 993 None Cap NOK 1,00 % 15.07.2025 150 000 9 092 None Cap USD 1,00 % 01.07.2025 246 433 22 154 None Cap USD 1,00 % 15.07.2025 246 433 21 942 None Unhedged 66 135 Total liabilities, hedged and 1 139 476 62 180 unhedged The Group has in Q1 2023 unwinded the two caps in USD. At December 31, 2021 Annual Fair value downscaling (incl. before NOK accrued maturity Type Currency Floor Cap/Swap Maturity principal interest) (average) Fixed rate loan NOK 3,36 % 27.03.2024 142 392 Variable Fixed rate loan NOK 3,41 % 13.09.2024 158 355 Variable Swap USD 2,36 % 21.11.2022 176 388 -3 480 None Swap USD 2,27 % 12.12.2022 176 388 -3 197 None Cap NOK 1,00 % 01.07.2025 150 000 4 376 None Cap NOK 1,00 % 15.07.2025 150 000 4 382 None Cap USD 1,00 % 01.07.2025 220 485 4 231 None Cap USD 1,00 % 15.07.2025 220 485 4 053 None Unhedged 581 620 Total liabilities, hedged and unhedged 1 976 112 10 365 At December 31, 2022, 94% (71%) of the Group\u2019s loans were at fixed interest or swap/cap. The Group has two fixed-interest loans in NOK with a maturity of 12 years originally (CIRR), which are recorded at amortised cost in the balance sheet. If these loans were to be refinanced today with a new margin and money market rate, and retained the same repayment profile, the net present value of the difference between the current interest payments and the refinanced interest payments would be MNOK -3.0 (level 2, see Note 3). If these loans were recorded at fair value, they would have been reported correspondingly lower. See Note 20 for information on long-term loans. Other information No financial assets have been reclassified such that the valuation method has been changed from amortisedcost to fair value, or vice versa. For assessment of fair value (MTM), see Note 3. ",
"dimensions": {
"concept": "ifrs-full:DisclosureOfFinancialInstrumentsExplanatory",
"language": "en",
"entity": "scheme:5967007LIEEXZXFOMO31",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"pp-value-32-5": {
"value": "2.10 Financial assets Financial assets are classified, at initial recognition, as subsequently measured at amortised cost, fair valuethrough other comprehensive income (OCI), and fair value through profit or loss. Fair value through othercomprehensive income (OCI) is not relevant for the Group. The Group uses derivatives such as currency contracts and interest swaps to reduce the risk associated withcurrency and interest rate fluctuations. The derivatives are presented as an asset with a positive value or aliability with a negative value. Assessment of fair value IFRS 7 requires financial instruments measured at fair value on the balance sheet date to be presented bylevel, with the following level classification for measuring fair value: 1) Quoted price in an active market for an identical asset or liability (level 1) 2) Valuation based on other observable factors, either directly (price) or indirectly (derived from prices)other than the quoted price (used in level 1) for the asset or liability (level 2) 3) Valuation based on factors not taken from observable markets (non-observable assumptions) (level3) The following balance sheet items represent financial instruments at fair value: Balance sheet item: Level Cash and cash equivalents 1 Derivatives 2 Financial investments 2 Derivatives are recognised on the basis of valuations from the counterparty (mark to market). Debts to credit institutions with floating interest rates are recognised at amortised cost, and are valued atapproximate fair value. Fixed-rate loans (CIRR) are recorded at amortised cost, and the estimated value isdescribed in Note 23. The fair value of fixed-rate loans is calculated by discounting the difference between thefixed rate and the market rate at December 31, 2022, with a duration equal to the term of the loan. Cost is considered equivalent to fair value for the equity investments discussed in Note 21. ",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForFairValueMeasurementExplanatory",
"language": "en",
"entity": "scheme:5967007LIEEXZXFOMO31",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"pp-value-32-6": {
"value": "2.10 Financial assets Financial assets are classified, at initial recognition, as subsequently measured at amortised cost, fair valuethrough other comprehensive income (OCI), and fair value through profit or loss. Fair value through othercomprehensive income (OCI) is not relevant for the Group. The Group uses derivatives such as currency contracts and interest swaps to reduce the risk associated withcurrency and interest rate fluctuations. The derivatives are presented as an asset with a positive value or aliability with a negative value. a) Financial assets at fair value through profit and lossA financial asset is classified in this category if it is acquired primarily to make a profit from short-term pricefluctuations, or if the management chooses to classify it in this category. Derivatives are also classified as \u2018heldfor trading\u2019. Assets in this category are classified as current assets if they are held for trading or if they areexpected to be realised within 12 months after the balance sheet date. Profit or loss from changes in fair value of assets classified as \u201cfinancial assets at fair value through profit andloss\u201d, including interest income and dividends, is included in the income statement under \u201cchange in value,derivatives\u201d in the period where they occur. b) Financial assets at amortised costIn order for a financial asset to be classified and measured at amortised cost or fair value through OCI, it needsto give rise to cash flows that are \u201csolely payments of principal and interest\u201d (\u201cSPPI\u201d) on the principal amountoutstanding. This assessment is referred to as the SPPI test and is performed at an instrument level. Financialassets with cash flows that are not SPPI are classified and measured at fair value through profit or loss,irrespective of the business model. Loans and receivables are non-derivative financial assets with fixedpayments that are not traded on an active market. They are classified as current assets, unless they maturemore than 12 months after the balance sheet date. In such cases, they are classified as non-current assets.Loans and receivables are classified as accounts receivable and other receivables on the balance sheet. Ordinary acquisitions and sales of investments are recognised at the date of the transaction. All financial assetsthat are not recognised at fair value through profit and loss are initially recorded at fair value plus transactioncosts. The exception is accounts receivable, which are recognised for the first time at the transaction price inaccordance with IFRS 15, ref. IFRS 9.1.5.3. Financial assets recognised at fair value through profit and lossare recognised on acquisition at fair value and transaction costs are posted to expenses. Investments areremoved from the balance sheet when the entitlement to cash flows from the investments cease, or when suchentitlement is transferred and the Group has basically transferred all risk and all potential profit from ownership.Financial assets available for sale and financial assets at fair value through the profit and loss account arevaluated at fair value after the first recognition. Loans and receivables are recognised at amortised cost usingthe effective interest method. The Group recognises an allowance for expected credit losses (ECLs) for all debt Instruments not held at fairvalue through profit or loss. ECLs are based on the difference between the contractual cash flows due inaccordance with the contract and all the cash flows that the Group expects to receive, discounted at anapproximation of the original effective interest rate. The expected cash flows will include cash flows from thesale of collateral held or other credit enhancements that are integral to the contractual terms. 2.11 Derivatives and hedging The Group does not use accounting hedging, and none of the Group\u2019s derivatives are designated hedginginstruments. The Group recognises derivatives at fair value with value changes through profit/loss. The purposeof the derivatives is to secure the Group\u2019s cash flow against fluctuations in interest and exchange rates. Referto Note 23 for an overview of the Group\u2019s derivatives at 31.12.2022. ",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForFinancialInstrumentsExplanatory",
"language": "en",
"entity": "scheme:5967007LIEEXZXFOMO31",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"pp-value-32-7": {
"value": "2.10 Financial assets Financial assets are classified, at initial recognition, as subsequently measured at amortised cost, fair valuethrough other comprehensive income (OCI), and fair value through profit or loss. Fair value through othercomprehensive income (OCI) is not relevant for the Group. The Group uses derivatives such as currency contracts and interest swaps to reduce the risk associated withcurrency and interest rate fluctuations. The derivatives are presented as an asset with a positive value or aliability with a negative value. a) Financial assets at fair value through profit and lossA financial asset is classified in this category if it is acquired primarily to make a profit from short-term pricefluctuations, or if the management chooses to classify it in this category. Derivatives are also classified as \u2018heldfor trading\u2019. Assets in this category are classified as current assets if they are held for trading or if they areexpected to be realised within 12 months after the balance sheet date. Profit or loss from changes in fair value of assets classified as \u201cfinancial assets at fair value through profit andloss\u201d, including interest income and dividends, is included in the income statement under \u201cchange in value,derivatives\u201d in the period where they occur. b) Financial assets at amortised costIn order for a financial asset to be classified and measured at amortised cost or fair value through OCI, it needsto give rise to cash flows that are \u201csolely payments of principal and interest\u201d (\u201cSPPI\u201d) on the principal amountoutstanding. This assessment is referred to as the SPPI test and is performed at an instrument level. Financialassets with cash flows that are not SPPI are classified and measured at fair value through profit or loss,irrespective of the business model. Loans and receivables are non-derivative financial assets with fixedpayments that are not traded on an active market. They are classified as current assets, unless they maturemore than 12 months after the balance sheet date. In such cases, they are classified as non-current assets.Loans and receivables are classified as accounts receivable and other receivables on the balance sheet. Ordinary acquisitions and sales of investments are recognised at the date of the transaction. All financial assetsthat are not recognised at fair value through profit and loss are initially recorded at fair value plus transactioncosts. The exception is accounts receivable, which are recognised for the first time at the transaction price inaccordance with IFRS 15, ref. IFRS 9.1.5.3. Financial assets recognised at fair value through profit and lossare recognised on acquisition at fair value and transaction costs are posted to expenses. Investments areremoved from the balance sheet when the entitlement to cash flows from the investments cease, or when suchentitlement is transferred and the Group has basically transferred all risk and all potential profit from ownership.Financial assets available for sale and financial assets at fair value through the profit and loss account arevaluated at fair value after the first recognition. Loans and receivables are recognised at amortised cost usingthe effective interest method. The Group recognises an allowance for expected credit losses (ECLs) for all debt Instruments not held at fairvalue through profit or loss. ECLs are based on the difference between the contractual cash flows due inaccordance with the contract and all the cash flows that the Group expects to receive, discounted at anapproximation of the original effective interest rate. The expected cash flows will include cash flows from thesale of collateral held or other credit enhancements that are integral to the contractual terms. ",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForFinancialAssetsExplanatory",
"language": "en",
"entity": "scheme:5967007LIEEXZXFOMO31",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"pp-value-33-4": {
"value": "a) Financial assets at fair value through profit and lossA financial asset is classified in this category if it is acquired primarily to make a profit from short-term pricefluctuations, or if the management chooses to classify it in this category. Derivatives are also classified as \u2018heldfor trading\u2019. Assets in this category are classified as current assets if they are held for trading or if they areexpected to be realised within 12 months after the balance sheet date. Profit or loss from changes in fair value of assets classified as \u201cfinancial assets at fair value through profit andloss\u201d, including interest income and dividends, is included in the income statement under \u201cchange in value,derivatives\u201d in the period where they occur. ",
"dimensions": {
"concept": "ifrs-full:DisclosureOfFinancialInstrumentsAtFairValueThroughProfitOrLossExplanatory",
"language": "en",
"entity": "scheme:5967007LIEEXZXFOMO31",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"pp-value-33-8": {
"value": "a) Financial assets at fair value through profit and lossA financial asset is classified in this category if it is acquired primarily to make a profit from short-term pricefluctuations, or if the management chooses to classify it in this category. Derivatives are also classified as \u2018heldfor trading\u2019. Assets in this category are classified as current assets if they are held for trading or if they areexpected to be realised within 12 months after the balance sheet date. Profit or loss from changes in fair value of assets classified as \u201cfinancial assets at fair value through profit andloss\u201d, including interest income and dividends, is included in the income statement under \u201cchange in value,derivatives\u201d in the period where they occur. ",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForFinancialInstrumentsAtFairValueThroughProfitOrLossExplanatory",
"language": "en",
"entity": "scheme:5967007LIEEXZXFOMO31",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"pp-value-35-3": {
"value": "2.11 Derivatives and hedging The Group does not use accounting hedging, and none of the Group\u2019s derivatives are designated hedginginstruments. The Group recognises derivatives at fair value with value changes through profit/loss. The purposeof the derivatives is to secure the Group\u2019s cash flow against fluctuations in interest and exchange rates. Referto Note 23 for an overview of the Group\u2019s derivatives at 31.12.2022. NOTE 23 - FINANCIAL INSTRUMENTS(NOK thousands) Capitalised financial assets and liabilities Capitalised value equals fair value, except for loans. For details of fair value loans, see the section on \u201cInterest\u201d below. The Group does not practise hedge accounting, financial derivatives held for financial hedging which are recorded at fair value. 31.12.2022 31.12.2021Assets Market-based shares for trading 9 9Currency derivatives 0 363Interest derivatives 62 180 17 042Accounts receivable (Note 14) 141 759 130 942Cash and cash equivalents (Note 16) 655 653 330 401Other long-term receivables, OSEV 39 769 51 178Total 899 370 529 934Liabilities Interest rate derivatives 0 6 677Loans (Note 20) 1 139 476 1 976 112Total 1 139 476 1 982 789Currency The Group has entered into currency derivative contracts as part of the management of the Group\u2019s currency exposure. The Group has no currency derivatives per December 31, 2022. At December 31, 2021 Currency sold Amount Maturity Exchange rate Fair value(average) (MTM)Currency derivatives Currency futures for the sale of current cash flow EUR 1 220 2022 10,2987 3633631 220 All currency futures are recorded at fair value. Interest The Group has the following fixed rate agreements: At December 31, 2022 Annual Fair value downscalin(incl. g before NOK accrued maturity Type Currency Floor Cap/Swap Maturity principal interest) (average) Fixed rate loan NOK 3,36 % 27.03.2024 132 329 Variable Fixed rate loan NOK 3,41 % 13.09.2024 148 146 Variable Cap NOK 1,00 % 01.07.2025 150 000 8 993 None Cap NOK 1,00 % 15.07.2025 150 000 9 092 None Cap USD 1,00 % 01.07.2025 246 433 22 154 None Cap USD 1,00 % 15.07.2025 246 433 21 942 None Unhedged 66 135 Total liabilities, hedged and 1 139 476 62 180 unhedged The Group has in Q1 2023 unwinded the two caps in USD. At December 31, 2021 Annual Fair value downscaling (incl. before NOK accrued maturity Type Currency Floor Cap/Swap Maturity principal interest) (average) Fixed rate loan NOK 3,36 % 27.03.2024 142 392 Variable Fixed rate loan NOK 3,41 % 13.09.2024 158 355 Variable Swap USD 2,36 % 21.11.2022 176 388 -3 480 None Swap USD 2,27 % 12.12.2022 176 388 -3 197 None Cap NOK 1,00 % 01.07.2025 150 000 4 376 None Cap NOK 1,00 % 15.07.2025 150 000 4 382 None Cap USD 1,00 % 01.07.2025 220 485 4 231 None Cap USD 1,00 % 15.07.2025 220 485 4 053 None Unhedged 581 620 Total liabilities, hedged and unhedged 1 976 112 10 365 At December 31, 2022, 94% (71%) of the Group\u2019s loans were at fixed interest or swap/cap. The Group has two fixed-interest loans in NOK with a maturity of 12 years originally (CIRR), which are recorded at amortised cost in the balance sheet. If these loans were to be refinanced today with a new margin and money market rate, and retained the same repayment profile, the net present value of the difference between the current interest payments and the refinanced interest payments would be MNOK -3.0 (level 2, see Note 3). If these loans were recorded at fair value, they would have been reported correspondingly lower. See Note 20 for information on long-term loans. Other information No financial assets have been reclassified such that the valuation method has been changed from amortisedcost to fair value, or vice versa. For assessment of fair value (MTM), see Note 3. ",
"dimensions": {
"concept": "ifrs-full:DisclosureOfDerivativeFinancialInstrumentsExplanatory",
"language": "en",
"entity": "scheme:5967007LIEEXZXFOMO31",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"pp-value-35-6": {
"value": "2.11 Derivatives and hedging The Group does not use accounting hedging, and none of the Group\u2019s derivatives are designated hedginginstruments. The Group recognises derivatives at fair value with value changes through profit/loss. The purposeof the derivatives is to secure the Group\u2019s cash flow against fluctuations in interest and exchange rates. Referto Note 23 for an overview of the Group\u2019s derivatives at 31.12.2022. ",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForDerivativeFinancialInstrumentsAndHedgingExplanatory",
"language": "en",
"entity": "scheme:5967007LIEEXZXFOMO31",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"pp-value-35-7": {
"value": "2.11 Derivatives and hedging The Group does not use accounting hedging, and none of the Group\u2019s derivatives are designated hedginginstruments. The Group recognises derivatives at fair value with value changes through profit/loss. The purposeof the derivatives is to secure the Group\u2019s cash flow against fluctuations in interest and exchange rates. Referto Note 23 for an overview of the Group\u2019s derivatives at 31.12.2022. ",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForHedgingExplanatory",
"language": "en",
"entity": "scheme:5967007LIEEXZXFOMO31",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"pp-value-35-8": {
"value": "2.11 Derivatives and hedging The Group does not use accounting hedging, and none of the Group\u2019s derivatives are designated hedginginstruments. The Group recognises derivatives at fair value with value changes through profit/loss. The purposeof the derivatives is to secure the Group\u2019s cash flow against fluctuations in interest and exchange rates. Referto Note 23 for an overview of the Group\u2019s derivatives at 31.12.2022. ",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForDerivativeFinancialInstrumentsExplanatory",
"language": "en",
"entity": "scheme:5967007LIEEXZXFOMO31",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"pp-value-36-2": {
"value": "2.12 Accounts receivable Accounts receivable are measured the first time at the transaction price in accordance with IFRS 15. Forsubsequent measurements, accounts receivable is assessed at amortised cost determined by using theeffective interest method, less provision for expected loss. The Group has chosen to apply the practicalsimplification approach to calculate losses on accounts receivable. The group has established a provisionmodel that is based on historical credit loss experience, adjusted for forward-looking factors specific to thedebtors and the economic environment. The group has historical had minor losses on trade receivables. SeeNotes 3 and 14. (b) Credit risk The Group has a concentration risk as charter contracts are signed with relatively few customers. Eidesvik\u2019scustomers are mainly solid companies with good solvency. The risk of counterparties not having the financialcapacity to fulfil their obligations is considered relatively low. Overdue receivables are followed up monthly.The Group has chosen to apply the practical simplification rule to calculate losses on accounts receivable. Lossprovisions are raised based on historical data, adjusted for forward-looking factors specific to the debtors andthe economic environment. The following table categorises the Group\u2019s receivables according to the risk of non-recovery of outstanding amounts: Accounts receivable 2022 2021 Group 1 138 779 120 800 Group 2 357 8 681 Group 3 2 623 1 462 Total 141 759 101 416 Group 1: Established customer relationship, good solvency/willingness Group 2: New customers, possibly slow recovery Group 3: Established customer relationship, weaker solvency/willingness The Group has significant long-term receivables from a company in the Global Seismic Shipping AS group thatwas sold in January 2020. These receivables are posted in the accounts at a significantly lower value due toprovisions for counterparty risk from the company\u2019s charterer. The recorded value of the receivables wasmeasured for revenue recognition in 2017 at less than the nominal value. This was in accordance withobservable sales of securities issued by the same counterparty. The credit risk on the receivables is consideredto be lower, and indications of changes in the valuation of these are assessed continuously. The impairment ofthe long-term receivables has been reversed to reflect the repayments received. See Notes 5 and 13 for furtherinformation. Maximum risk exposure is represented by the capitalised value of the financial assets, including derivatives,on the balance sheet. As the counterparties in derivatives trading are large well-known banks, the credit riskassociated with derivatives is considered low. NOTE 14 \u2013 ACCOUNTS RECEIVABLE (NOK thousands) 31.12.2022 31.12.2021 Accounts receivable 127 269 125 302 Accounts receivable related parties/join ventures 16 019 12 485 Provision for losses -1 529-6 845Total accounts receivable 141 759 130 942 Of overdue accounts receivable related to other than related parties, the expected loss rate is as follows:(NOK thousands) 31.12.2022 31.12.2021 0-3 months0 % 1 % 3-6 months0 % 0 % 6 months <47 % 58 % Recorded value of the Group\u2019s accounts receivable per currency: EUR 16 447 22 447 USD 15 710 27 569 GBP 0 47 NOK 109 601 80 879 Total accounts receivable 141 759 130 942 Net change in provisions for impairment of accounts receivable: 31.12.2022 31.12.2021 At January 1 6 845 1 400 Provision for impairment of receivables -6 8455 445 Accounts receivable recorded as loss during the year -1 5290 At December 31 -1 5296 845 ",
"dimensions": {
"concept": "ifrs-full:DisclosureOfAllowanceForCreditLossesExplanatory",
"language": "en",
"entity": "scheme:5967007LIEEXZXFOMO31",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"pp-value-36-3": {
"value": "2.12 Accounts receivable Accounts receivable are measured the first time at the transaction price in accordance with IFRS 15. Forsubsequent measurements, accounts receivable is assessed at amortised cost determined by using theeffective interest method, less provision for expected loss. The Group has chosen to apply the practicalsimplification approach to calculate losses on accounts receivable. The group has established a provisionmodel that is based on historical credit loss experience, adjusted for forward-looking factors specific to thedebtors and the economic environment. The group has historical had minor losses on trade receivables. SeeNotes 3 and 14. NOTE 14 \u2013 ACCOUNTS RECEIVABLE (NOK thousands) 31.12.2022 31.12.2021 Accounts receivable 127 269 125 302 Accounts receivable related parties/join ventures 16 019 12 485 Provision for losses -1 529-6 845Total accounts receivable 141 759 130 942 Of overdue accounts receivable related to other than related parties, the expected loss rate is as follows:(NOK thousands) 31.12.2022 31.12.2021 0-3 months0 % 1 % 3-6 months0 % 0 % 6 months <47 % 58 % Recorded value of the Group\u2019s accounts receivable per currency: EUR 16 447 22 447 USD 15 710 27 569 GBP 0 47 NOK 109 601 80 879 Total accounts receivable 141 759 130 942 Net change in provisions for impairment of accounts receivable: 31.12.2022 31.12.2021 At January 1 6 845 1 400 Provision for impairment of receivables -6 8455 445 Accounts receivable recorded as loss during the year -1 5290 At December 31 -1 5296 845 ",
"dimensions": {
"concept": "ifrs-full:DisclosureOfTradeAndOtherReceivablesExplanatory",
"language": "en",
"entity": "scheme:5967007LIEEXZXFOMO31",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"pp-value-36-5": {
"value": "2.12 Accounts receivable Accounts receivable are measured the first time at the transaction price in accordance with IFRS 15. Forsubsequent measurements, accounts receivable is assessed at amortised cost determined by using theeffective interest method, less provision for expected loss. The Group has chosen to apply the practicalsimplification approach to calculate losses on accounts receivable. The group has established a provisionmodel that is based on historical credit loss experience, adjusted for forward-looking factors specific to thedebtors and the economic environment. The group has historical had minor losses on trade receivables. SeeNotes 3 and 14. ",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForTradeAndOtherReceivablesExplanatory",
"language": "en",
"entity": "scheme:5967007LIEEXZXFOMO31",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"pp-value-37-2": {
"value": "2.13 Cash and cash equivalents Cash and cash equivalents consist of cash, bank deposits, and other short-term and easily negotiable investments with a maximum of three months\u2019 original maturity and overdraft facilities. In the balance sheet,overdraft facilities are included in loans under short-term liabilities. NOTE 16 - CASH AND CASH EQUIVALENTSOf total cash and cash equivalents at December 31, 2022, of MNOK 655.7 (MNOK 330.4 at December 31, 2021),where MNOK 7.2 is restricted tax funds and MNOK 62.7 is funding restricted for use towards the ShipFCammonia project (EU support). ",
"dimensions": {
"concept": "ifrs-full:DisclosureOfCashAndCashEquivalentsExplanatory",
"language": "en",
"entity": "scheme:5967007LIEEXZXFOMO31",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"pp-value-37-4": {
"value": "2.13 Cash and cash equivalents Cash and cash equivalents consist of cash, bank deposits, and other short-term and easily negotiable investments with a maximum of three months\u2019 original maturity and overdraft facilities. In the balance sheet,overdraft facilities are included in loans under short-term liabilities. ",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyToDetermineComponentsOfCashAndCashEquivalents",
"language": "en",
"entity": "scheme:5967007LIEEXZXFOMO31",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"pp-value-38-2": {
"value": "2.14 Share capital Ordinary shares are classified as share capital. Expenses directly associated with issuing new shares or options with tax deductions, are recorded as reductionin received consideration in equity (premium on shares). NOTE 17 - SHARE CAPITAL AND PREMIUM Changes in paid share capital: (NOK thousands) Number of shares Share capital 2022 2021 2022 2021 Ordinary shares Opening balance 62 150 62 150 3 108 3 108 Share issue 0 0 0 0 At December 31 62 150 62 150 3 108 3 108 Nominal value per share in Eidesvik Offshore ASA is NOK 0.05 (5 \u00f8re). The 20 largest shareholders in Eidesvik Offshore ASA as at December 31, 2022: Number Ownership Shareholder Country of shares share EIDESVIK INVEST AS NORWAY 37 200 000 59,86 % JAKOB HATTELAND HOLDING AS NORWAY 3 061 741 4,93 % HELG\u00d8 FORVALTNING NORWAY 1 446 711 2,33 % VINGTOR INVEST AS NORWAY 1 434 719 2,31 % STANGELAND HOLDING AS NORWAY 1 096 401 1,76 % BERGTOR INVESTERING AS NORWAY 1 096 401 1,76 % DUNVOLD INVEST AS NORWAY 837 000 1,35 % SKANDINAVISKA ENSKILDA BANKEN AB SWEDEN 793 808 1,28 % SILBERG, JOHNNY NORWAY 600 000 0,97 % HELG\u00d8 INVEST AS NORWAY 500 000 0,80 % HELLAND AS NORWAY 474 585 0,76 % TVEIT\u00c5, EINAR KRISTIAN NORWAY 444 000 0,71 % CAIANO SHIP AS NORWAY 372 575 0,60 % CALIFORNIA INVEST AS NORWAY 358 000 0,58 % BJ\u00d8RKEHAGEN AS NORWAY 300 000 0,48 % OLAVS HOLDING AS NORWAY 292 338 0,47 % SMEDASUNDET AS NORWAY 269 787 0,43 % DNB BANK ASA SWEDEN 257 985 0,42 % LGJ INVEST AS NORWAY 250 000 0,40 % HANNESTAD, KARL CHRISTIAN NORWAY 230 950 0,37 % Others 10 832 999 17,43 % Total 62 150 000 100,00 % The Company had 2,291 shareholders as at December 31, 2022, and a foreign owner share of 2.91%. See alsoNote 24. ",
"dimensions": {
"concept": "ifrs-full:DisclosureOfIssuedCapitalExplanatory",
"language": "en",
"entity": "scheme:5967007LIEEXZXFOMO31",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"pp-value-38-3": {
"value": "2.14 Share capital Ordinary shares are classified as share capital. Expenses directly associated with issuing new shares or options with tax deductions, are recorded as reductionin received consideration in equity (premium on shares). NOTE 17 - SHARE CAPITAL AND PREMIUM Changes in paid share capital: (NOK thousands) Number of shares Share capital 2022 2021 2022 2021 Ordinary shares Opening balance 62 150 62 150 3 108 3 108 Share issue 0 0 0 0 At December 31 62 150 62 150 3 108 3 108 Nominal value per share in Eidesvik Offshore ASA is NOK 0.05 (5 \u00f8re). The 20 largest shareholders in Eidesvik Offshore ASA as at December 31, 2022: Number Ownership Shareholder Country of shares share EIDESVIK INVEST AS NORWAY 37 200 000 59,86 % JAKOB HATTELAND HOLDING AS NORWAY 3 061 741 4,93 % HELG\u00d8 FORVALTNING NORWAY 1 446 711 2,33 % VINGTOR INVEST AS NORWAY 1 434 719 2,31 % STANGELAND HOLDING AS NORWAY 1 096 401 1,76 % BERGTOR INVESTERING AS NORWAY 1 096 401 1,76 % DUNVOLD INVEST AS NORWAY 837 000 1,35 % SKANDINAVISKA ENSKILDA BANKEN AB SWEDEN 793 808 1,28 % SILBERG, JOHNNY NORWAY 600 000 0,97 % HELG\u00d8 INVEST AS NORWAY 500 000 0,80 % HELLAND AS NORWAY 474 585 0,76 % TVEIT\u00c5, EINAR KRISTIAN NORWAY 444 000 0,71 % CAIANO SHIP AS NORWAY 372 575 0,60 % CALIFORNIA INVEST AS NORWAY 358 000 0,58 % BJ\u00d8RKEHAGEN AS NORWAY 300 000 0,48 % OLAVS HOLDING AS NORWAY 292 338 0,47 % SMEDASUNDET AS NORWAY 269 787 0,43 % DNB BANK ASA SWEDEN 257 985 0,42 % LGJ INVEST AS NORWAY 250 000 0,40 % HANNESTAD, KARL CHRISTIAN NORWAY 230 950 0,37 % Others 10 832 999 17,43 % Total 62 150 000 100,00 % The Company had 2,291 shareholders as at December 31, 2022, and a foreign owner share of 2.91%. See alsoNote 24. ",
"dimensions": {
"concept": "ifrs-full:DisclosureOfShareCapitalReservesAndOtherEquityInterestExplanatory",
"language": "en",
"entity": "scheme:5967007LIEEXZXFOMO31",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"pp-value-38-5": {
"value": "2.14 Share capital Ordinary shares are classified as share capital. Expenses directly associated with issuing new shares or options with tax deductions, are recorded as reductionin received consideration in equity (premium on shares). ",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForIssuedCapitalExplanatory",
"language": "en",
"entity": "scheme:5967007LIEEXZXFOMO31",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"pp-value-39-2": {
"value": "2.15 Accounts payable Payables are measured at fair value at the first recognition. For subsequent measurements, payables areassessed at amortised cost determined by using the effective interest method. ",
"dimensions": {
"concept": "ifrs-full:DisclosureOfTradeAndOtherPayablesExplanatory",
"language": "en",
"entity": "scheme:5967007LIEEXZXFOMO31",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"pp-value-39-4": {
"value": "2.15 Accounts payable Payables are measured at fair value at the first recognition. For subsequent measurements, payables areassessed at amortised cost determined by using the effective interest method. ",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForTradeAndOtherPayablesExplanatory",
"language": "en",
"entity": "scheme:5967007LIEEXZXFOMO31",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"pp-value-40-2": {
"value": "2.16 Loans Loans are recognised at the accrued amount when the loan is disbursed, less transaction costs. In subsequentperiods, loans are recognised at amortised cost using the effective interest method. The difference betweenthe disbursed loan amount (minus transaction costs) and the redemption value is recognised over the term ofthe loan. When loans are renegotiated, a view is taken as to whether the renegotiated loan should be treated as acontinuation of the old loan or as a new loan (IFRS 9.3.3.1-9.3.3.3). The main rule of IFRS 9.3.3.1 is that afinancial liability should only be derecognised in cases where the liabilities specified in the contract have beendischarged, cancelled or expired. When a company has its debts renegotiated without a change of lender,however, the old loan is derecognised and a new loan recognised if the renegotiation involves significantchanges in the conditions related to the debt. If there are no significant changes, the difference between thepresent value of the modified cash flow and the original amortised cost is recognised through profit/loss (seeNote 8). NOTE 20 - LONG-TERM LIABILITIES Book value (NOK thousands) 31.12.2022 31.12.2021Mortgage (NOK) 827 958 884 165Mortgage (USD) 311 518 1 091 947Other loan 1 099 1 056Capitalised establishment costs -1 471 -5 599Total interest-bearing long-term liabilities 1 139 103 1 971 570Total long-term liabilities 1 139 103 1 971 570Short-term portion of long-term liabilities -983 569 -86 705Liabilities related to Assets held for sale -112 365 -840 666Total long-term liabilities excl. first year\u2019s repayment 43 169 1 044 199Short-term loans First year\u2019s repayment of long-term liabilities 983 569 86 705Accrued interest 5 965 7 674Total 989 534 94 379Liabilities related to Assets held for sale 112 365 840 666Total 112 365 840 666Book value of liabilities in currency NOK 827 585 879 623USD 311 518 1 091 947Total 1 139 103 1 971 570Amortisation profile on long-term liabilities at December 31, 2022*: Pre refinancing in Q1 2023 Post refinancing in Q1 2023 2023 1 095 934 452 500 2024 43 542 85 000 2025 0 85 000 2026 0 516 976 Total repayments 1 139 476 1 139 476 Amortisation profile on long-term liabilities at December 31, 2021*: 2022 128 364 2023 1 676 479 2024 80 035 2025 36 494 2026 36 494 Later 18 247 Total repayments 1 976 112 *Liabilities related to Assets held for sale will become due and payable at the time of completion of the sale. The Company has in Q4 2022 sold the Subsea/Offshore Wind vessel Viking Neptun, and the long-term loan is repaid. All four seismic vessels are classified as held-for-sale, and the corresponding debt is classified as Liabilities related to assets held for sale. Refer to note 12 for Assets held for sale. Of total liabilities, MNOK 1,139.5 are secured against mortgages in vessels recorded at MNOK 1,143.5. For an assessment of the fair value of long-term liabilities, see Notes 3 and 23. Interest-Interest-Current Non-current Interest bearing Assets held bearing Change in liabilities lease lease Totalexpenses short-term for sale* long-term liabilities liabilities debt debt At January 1, 2022 94 379 3 256 840 666 1 044 199 51 147 2 033 646Repayment of debt -89 797 -4 890 (876 124) 0 0 -970 811Interest paid -83 335 -7 674 0 0 0 0 -91 009Cash flow from financing -83 335 -97 472 -4 890 -876 124 0 0 -1 061 821Exchange rate effects 36 703 0 96 056 0 0 132 759Capitalisation costs 0 0 0 4 127 0 4 127Interest accrued but not paid 5 965 0 0 5 965Other changes 949 958 5 851 51 768 -1 005 158 2 827 5 246At December 31, 2022 989 534 4 217 112 365 43 168 53 973 1 203 258Interest-Current Interest-Non-current Interest bearing Assets held Change in liabilities lease bearing long-lease Totalexpenses short-term for sale* liabilities term debt liabilities debt At January 1, 2021 166 596 3 256 0 2 193 798 54 862 2 418 512Repayment of debt -420 514 -3 714 0 0 0 --424 228Interest paid -71 291 -8 871 0 0 0 0 -80 163Cash flow from financing -71 291 -429 386 -3 714 0 0 0 --504 392Exchange rate effects -6 635 0 0 43 611 0 36 976Capitalisation costs 0 0 0 3 557 0 3 557Interest accrued but not paid 7 674 0 0 0 0 7 674Other changes 356 129 3 714 840 666 -1 196 767 -3 714 28At December 31, 2021 94 379 3 256 840 666 1 044 199 51 147 2 033 647*Liabilities related to Assets Held for sale Covenants The majority of the Company\u2019s fleet is financed with mortgage loans, mainly fleet loans. The most important financial covenants at December 31, 2022, were: \u2022 Free liquidity of MNOK 70. \u2022 Positive working capital (current assets less current liabilities, excluding current portion of long-term debt). \u2022 Loan to value: Suspended until the end of the refinancing period. \u2022 Limitations on investments and dividends. There are also clauses related to change of control concerning the Eidesvik families. No companies in the Eidesvik Offshore Group were in breach of any covenants at December 31, 2022, or during 2022. The new refinancing On February 22, 2023, Eidesvik announced that it had agreed on a term sheet with its financial institutions for refinancing of its debt. On March 28, 2023, the final agreements and documentation were in place and the new terms for the Group\u2019s financing became effective. The new debt will mature on February 28, 2026, and hence reclassify the majority of the outstanding debt from current liabilities to non-current liabilities. Summary of the refinancing Amortization: \u2022 Facility prepayment of NOK 410 million was made on the date of signing and final documentation. \u2022 In 2023, scheduled amortization amounts to NOK 42.5 million in total for the Group. \u2022 In 2024 and 2025, scheduled amortization amounts to NOK 85.0 million in total for the Group. Cash Sweep: \u2022 No cash sweep mechanisms Financial covenants: \u2022 Minimum free liquidity of NOK 60 million. \u2022 Positive working capital (current assets less current liabilities, excluding instalments and current portion of long term debt). \u2022 Leverage ratio of 5.0 or lower in 2023, 4.0 in 2024 and 3.5 in 2025. \u2022 Equity ratio of 35% for 2023, and 40% thereafter. ",
"dimensions": {
"concept": "ifrs-full:DisclosureOfBorrowingsExplanatory",
"language": "en",
"entity": "scheme:5967007LIEEXZXFOMO31",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"pp-value-40-4": {
"value": "2.16 Loans Loans are recognised at the accrued amount when the loan is disbursed, less transaction costs. In subsequentperiods, loans are recognised at amortised cost using the effective interest method. The difference betweenthe disbursed loan amount (minus transaction costs) and the redemption value is recognised over the term ofthe loan. When loans are renegotiated, a view is taken as to whether the renegotiated loan should be treated as acontinuation of the old loan or as a new loan (IFRS 9.3.3.1-9.3.3.3). The main rule of IFRS 9.3.3.1 is that afinancial liability should only be derecognised in cases where the liabilities specified in the contract have beendischarged, cancelled or expired. When a company has its debts renegotiated without a change of lender,however, the old loan is derecognised and a new loan recognised if the renegotiation involves significantchanges in the conditions related to the debt. If there are no significant changes, the difference between thepresent value of the modified cash flow and the original amortised cost is recognised through profit/loss (seeNote 8). ",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForBorrowingsExplanatory",
"language": "en",
"entity": "scheme:5967007LIEEXZXFOMO31",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"pp-value-41-2": {
"value": "2.17 Pension liabilities, bonus schemes and other compensation schemes for employees a) Pension liabilities The companies in the Group have different pension schemes. Pension schemes are mainly financed throughpayments to insurance companies or pension funds. The Group\u2019s pension schemes are a defined contributionscheme and a defined benefit plan. A defined benefit plan is typically a pension scheme which defines a pensionpayment an employee will receive on retirement. Pension payments normally depend on several factors, suchas age, number of years in the company, and salary. The recognised liability associated with a defined benefit plan is the present value of the defined benefit on thebalance sheet date minus the fair value of the pension funds (in cases where the scheme is hedged). Thepension liability is calculated annually by an independent actuary using a linear accrual method. The presentvalue of the defined benefit is determined by discounting estimated future disbursements based on the intereston corporate bonds with high credit rating using OMF interest rates. Changes in benefits from the pension plan are recorded as income or charged to expenses on an ongoing basis,unless the rights under the new pension scheme are conditional on the employee remaining in service for aspecified period in the vesting period. In this case the cost associated with the changed benefit is amortisedon a linear basis over the vesting period. b) Bonus agreements and severance pay In some cases, employment agreements are made which give the right to bonus in relation to fulfilment ofdefined financial and non-financial criteria, as well as agreements which give the right to severance pay if theemployer terminates the employment. The Group raises provisions in cases where there is a formal obligationto make disbursements. NOTE 11 \u2013 PAYROLL EXPENSES AND NUMBER OF EMPLOYEES (NOK thousands) 2022 2021 Payroll after net pay refund 181 989 161 021 Social security costs 49 494 44 429 Defined benefit pension (see Note 18) 275 268 Contribution pension 12 402 13 849 Hired personnel 29 273 23 435 Other personnel costs 28 992 30 070 Total personnel costs 302 425 273 072 Salaries and payroll tax are shown after deduction for the reimbursement scheme for seafarers. The average number of full-time equivalents was: 429 426 Number of employees at end of year: 428 424 In 2022, NOK 41,581 thousand (NOK 57,201 thousand in 2021) was received in connection with thereimbursement scheme for Norwegian seafarers. In 2022, NOK 3,013 thousand (NOK 2,577 thousand in 2021) was received from Stiftelsen Norsk MaritimKompetanse. All received refunds are presented as a reduction of payroll expenses. NOTE 18 - PENSIONS AND OTHER LONG-TERM EMPLOYEE BENEFITS The Company is required to have an occupational pension scheme under the Mandatory Occupational PensionsAct. The Company\u2019s pension schemes satisfy the requirements of this Act. Defined benefit pension This pension scheme was replaced by a defined contribution scheme for all employees, except for former CEO.The estimated payment into the defined benefit scheme in 2023 is NOK 275 thousand. Capitalised liability is determined as follows: (NOK thousands) 2022 2021 Net present value of accrued defined benefit pension liabilities in fund based schemes 3 899 3 520 Fair value of pension funds -4 317 -3 802 Net capitalised pension liability/fund December 31 -417 -282 Changes in defined benefit pension liability during the year: 2022 2021 Pension liability January 1 3 519 3 256 Net present value of pension contribution of the year 248 240 Interest expenses 71 58 Transfer/acquisition/moving members/new contracts 0 0 Payroll tax on employer\u2019s contribution -63 -104 Actuarial loss/(gain) 0 0 Benefits paid 124 69 Pension liability December 31 3 899 3 519 Change in fair value of pension funds: 2022 2021 Pension funds January 1 3 801 3 020 Expected return on pension funds 44 32 Transfer/acquisition/moving members/new contracts 0 0 Actuarial (gains)/losses 22 14 Payroll tax on employer\u2019s contribution -63 -104 Employer\u2019s contribution 513 839 Benefits paid 0 0 Pension funds December 31 4 317 3 802 Total cost included in net profit: 2022 2021 Cost of pension contribution for the period 214 207 Net changes in plan, scaling down, settlement 0 0 Interest expenses 4 4 Expected return on pension funds -10 -3 Administrative costs 36 29 Payroll tax on pension costs 31 30 Total, included in payroll expenses (Note 11) 275 268 Estimate deviations due to changes in actuarial assumptions included in other income and costs (OCI): Estimate deviations due to changes in actuarial assumptions included in other comprehensive income (OCI): 2022 2021 Changes in the discount rate -527 -108 Changes in other financial assumptions DBO -27 -53 Changes in other DBO 651 177 Changes in other - pension funds -46 -7 Funds and interest guarantees 51 46 Estimate deviation losses/(gains) against OCI* 102 55 *Estimate deviation losses/(gains) against OCI was in 2021 booked as a loss. Corrected in 2022 and thereforenot reconcilable to the accounts.The pension funds are placed in various investments through external insurance companies. They manage alltransactions for the pension schemes. Breakdown into investment categories: 2022 2021 Shares 10 % 10 % Bonds 53 % 46 % Real estate 11 % 14 % Money market 4 % 11 % Other 22 % 20 % To calculate pension costs and net pension liabilities, the following assumptions are used: 2022 2021 Discount rate 3,00 % 1,90 % Return on pension assets 3,00 % 1,90 % Wage growth 3,50 % 2,75 % Pension adjustment 1,50 % 0,00 % G adjustment 3,25 % 2,50 % The discount rate is based on interest on covered bonds (OMF), whereas this was previously based on thegovernment bond rate. Mortality table K2013 BE is used as a basis for mortality. Sensitivity of the calculation of pension liability to changes in the assumptions: The table below shows an estimate of potential effects of a change in certain assumptions for defined benefitpension schemes in Norway. Change in amount Discount rate Annual wage growth 1,00 % -1,00 %1,00 % -1,00 %Total Pension liability PBO 3 388 4 516 3 900 3 900 Pension cost for period SCC 231 290 258 258 Active members Pension liability PBO 3 388 4 516 3 900 3 900 Pension cost for period SCC 231 290 258 258 Pensioners Pension liability PBO - - - - Risk assessment Through the defined benefit schemes, the Group is affected by a number of risks arising from uncertainty inassumptions and future developments. The key risks are described here: Life expectancy The Group has undertaken to pay pensions to the employee for the remainder of their lives. So an increase in life expectancy among the members will lead to an increase in the liability for the Company. Return risk The Group is affected by a reduction in the actual return on the pension funds. This will lead to an increase inthe liability for the Company, as the return on the funds will not be sufficient to meet the obligation. Inflation and wage increase risk The Group\u2019s pension liability carries risk associated with both inflation and wage growth, although wagedevelopment is closely linked to inflation. Higher inflation and wage growth than assumed in the pensionestimates will lead to a larger liability for the Group. ",
"dimensions": {
"concept": "ifrs-full:DisclosureOfEmployeeBenefitsExplanatory",
"language": "en",
"entity": "scheme:5967007LIEEXZXFOMO31",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"pp-value-41-4": {
"value": "2.17 Pension liabilities, bonus schemes and other compensation schemes for employees a) Pension liabilities The companies in the Group have different pension schemes. Pension schemes are mainly financed throughpayments to insurance companies or pension funds. The Group\u2019s pension schemes are a defined contributionscheme and a defined benefit plan. A defined benefit plan is typically a pension scheme which defines a pensionpayment an employee will receive on retirement. Pension payments normally depend on several factors, suchas age, number of years in the company, and salary. The recognised liability associated with a defined benefit plan is the present value of the defined benefit on thebalance sheet date minus the fair value of the pension funds (in cases where the scheme is hedged). Thepension liability is calculated annually by an independent actuary using a linear accrual method. The presentvalue of the defined benefit is determined by discounting estimated future disbursements based on the intereston corporate bonds with high credit rating using OMF interest rates. Changes in benefits from the pension plan are recorded as income or charged to expenses on an ongoing basis,unless the rights under the new pension scheme are conditional on the employee remaining in service for aspecified period in the vesting period. In this case the cost associated with the changed benefit is amortisedon a linear basis over the vesting period. b) Bonus agreements and severance pay In some cases, employment agreements are made which give the right to bonus in relation to fulfilment ofdefined financial and non-financial criteria, as well as agreements which give the right to severance pay if theemployer terminates the employment. The Group raises provisions in cases where there is a formal obligationto make disbursements. ",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForEmployeeBenefitsExplanatory",
"language": "en",
"entity": "scheme:5967007LIEEXZXFOMO31",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"pp-value-43-2": {
"value": "2.18 Provisions The Group raises provisions for environmental improvements and legal requirements when: There is a statutoryor self-imposed obligation arising from previous events, there is a strong likelihood that the obligation will haveto be met in the form of a transfer of financial resources, and the size of the obligation can be estimated witha sufficient degree of reliability. In cases where there is more than one obligation of the same nature, the probability of the obligation having tobe met will be determined by assessing the group as a whole. Provisions for the Group are raised even thoughthe probability of settlement with regard to the individual elements in the group is low. Provisions are measured at present value of expected disbursements to fulfil the obligation. A discount ratebefore tax is used which reflects the current market situation and risk specific to the obligation. The increasein the obligation due to changes in time value is recorded as interest expenses. NOTE 19 - OTHER LIABILITIES (NOK thousands) 31.12.2022 31.12.2021 Public taxes and charges 27 501 35 474 Salaries and holiday pay 35 280 33 639 Accrued expenses 57 524 51 890 Prepaid costs SHIP-FC project 57 401 19 925 Total other current liabilities 177 707 140 929 Accrued expenses are mainly related to provisions for accrued operating costs and docking/averageadjustment. In 2020 Eidesvik entered into the five year European joint development project ShipFC where Viking Energywill be retrofitted with a 2 MW fuel cell running on green ammonia. The project has received funding from EUto cover a main part of the project costs. ",
"dimensions": {
"concept": "ifrs-full:DisclosureOfAccruedExpensesAndOtherLiabilitiesExplanatory",
"language": "en",
"entity": "scheme:5967007LIEEXZXFOMO31",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"pp-value-43-3": {
"value": "2.18 Provisions The Group raises provisions for environmental improvements and legal requirements when: There is a statutoryor self-imposed obligation arising from previous events, there is a strong likelihood that the obligation will haveto be met in the form of a transfer of financial resources, and the size of the obligation can be estimated witha sufficient degree of reliability. In cases where there is more than one obligation of the same nature, the probability of the obligation having tobe met will be determined by assessing the group as a whole. Provisions for the Group are raised even thoughthe probability of settlement with regard to the individual elements in the group is low. Provisions are measured at present value of expected disbursements to fulfil the obligation. A discount ratebefore tax is used which reflects the current market situation and risk specific to the obligation. The increasein the obligation due to changes in time value is recorded as interest expenses. NOTE 19 - OTHER LIABILITIES (NOK thousands) 31.12.2022 31.12.2021 Public taxes and charges 27 501 35 474 Salaries and holiday pay 35 280 33 639 Accrued expenses 57 524 51 890 Prepaid costs SHIP-FC project 57 401 19 925 Total other current liabilities 177 707 140 929 Accrued expenses are mainly related to provisions for accrued operating costs and docking/averageadjustment. In 2020 Eidesvik entered into the five year European joint development project ShipFC where Viking Energywill be retrofitted with a 2 MW fuel cell running on green ammonia. The project has received funding from EUto cover a main part of the project costs. ",
"dimensions": {
"concept": "ifrs-full:DisclosureOfOtherLiabilitiesExplanatory",
"language": "en",
"entity": "scheme:5967007LIEEXZXFOMO31",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"pp-value-43-4": {
"value": "2.18 Provisions The Group raises provisions for environmental improvements and legal requirements when: There is a statutoryor self-imposed obligation arising from previous events, there is a strong likelihood that the obligation will haveto be met in the form of a transfer of financial resources, and the size of the obligation can be estimated witha sufficient degree of reliability. In cases where there is more than one obligation of the same nature, the probability of the obligation having tobe met will be determined by assessing the group as a whole. Provisions for the Group are raised even thoughthe probability of settlement with regard to the individual elements in the group is low. Provisions are measured at present value of expected disbursements to fulfil the obligation. A discount ratebefore tax is used which reflects the current market situation and risk specific to the obligation. The increasein the obligation due to changes in time value is recorded as interest expenses. NOTE 19 - OTHER LIABILITIES (NOK thousands) 31.12.2022 31.12.2021 Public taxes and charges 27 501 35 474 Salaries and holiday pay 35 280 33 639 Accrued expenses 57 524 51 890 Prepaid costs SHIP-FC project 57 401 19 925 Total other current liabilities 177 707 140 929 Accrued expenses are mainly related to provisions for accrued operating costs and docking/averageadjustment. In 2020 Eidesvik entered into the five year European joint development project ShipFC where Viking Energywill be retrofitted with a 2 MW fuel cell running on green ammonia. The project has received funding from EUto cover a main part of the project costs. ",
"dimensions": {
"concept": "ifrs-full:DisclosureOfProvisionsExplanatory",
"language": "en",
"entity": "scheme:5967007LIEEXZXFOMO31",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"pp-value-43-6": {
"value": "2.18 Provisions The Group raises provisions for environmental improvements and legal requirements when: There is a statutoryor self-imposed obligation arising from previous events, there is a strong likelihood that the obligation will haveto be met in the form of a transfer of financial resources, and the size of the obligation can be estimated witha sufficient degree of reliability. In cases where there is more than one obligation of the same nature, the probability of the obligation having tobe met will be determined by assessing the group as a whole. Provisions for the Group are raised even thoughthe probability of settlement with regard to the individual elements in the group is low. Provisions are measured at present value of expected disbursements to fulfil the obligation. A discount ratebefore tax is used which reflects the current market situation and risk specific to the obligation. The increasein the obligation due to changes in time value is recorded as interest expenses. ",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForProvisionsExplanatory",
"language": "en",
"entity": "scheme:5967007LIEEXZXFOMO31",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"pp-value-44-2": {
"value": "2.19 Income and expense recognition principles Income from the sale of goods and services is measured at fair value, net of commission, rebates and discounts.Intragroup sales are eliminated. Income is recognised as follows: a) Sale of services Except for the seismic fleet, most of the Group\u2019s vessels have been contracted on time charters (TC) throughoutthe year. This means that the charter is agreed as a lease of a vessel with crew. The charterer decides (withinagreed limitations) how the vessel is to be used. The time charter lapses in periods when the vessel is notoperational (is \u201coff hire\u201d), e.g. during repairs. The shipping company pays for the crew, supplies, insurance,repairs, administration, etc., while the charterer pays the \u201cvoyage-dependent\u201d expenses such as bunkers, portfees and expenses for loading and unloading. In addition to leasing the vessel, there may be agreements for additional services in the form of hiring extracrew, sale of provisions and coverage of other operating expenses. Lease income for leasing vessels is recognised on a linear basis through the lease period. The lease periodstarts from the date when the vessel is at the lessee\u2019s disposal, and ends with its agreed return. Lease of crew and payments to cover other operating expenses are recognised on a linear basis through thecontract period When a contract is cancelled, the remaining contract is recorded as income when the vessel is returned. b) Interest income Interest income is recognised proportionally over time in accordance with the effective interest method. Whenreceivables are written down, the capitalised value is reduced to the recoverable amount. The recoverableamount is the estimated future cash flow discounted at the original effective interest rate. After impairment, theinterest income is recognised on the basis of the original effective interest rate. c) Dividend income Dividend income is recognised when this has been determined by the General Meeting.NOTE 4 \u2013 SEGMENT INFORMATION The Group\u2019s activities are divided into strategic operating segments according to the nature of the vessels\u2019activities. The various operating segments offer different shipping services, address partially different customergroups, and have different risk profiles. The Group is divided into the following operating segments: a. Seismic b. Subsea/Offshore Wind c. Supply d. Other The Seismic segment delivers shipping services to customers who produce seismic data. At the end of 2022,all seismic vessels were in layup and held for sale. Refer to note 12 for further information of the seismic fleet.The Subsea/Offshore Wind segment delivers shipping services for subsea work for the oil industry. The vesselsare specially adapted to tasks such as subsea inspection, maintenance, repairs and construction. Several ofthe Company\u2019s subsea vessels meet the requirements in the Offshore Wind market, and one vessel is currentlychartered in this market. The Supply segment delivers services to the offshore oil industry. The vessels deliver supplies to rigs, andfunction as part of the rig\u2019s emergency preparedness. Transactions between segments are eliminated. These are mainly administration costs that are charged to eachsegment. Long-term financial items in the Group are not allocated, as the Group\u2019s liabilities are mainly included in fleetfacilities. Short-term liabilities are allocated to the segments where possible. Items that do not belong to any of the segments is recorded under \u201cOther\u201d. Segment performance is assessed on the basis of operating profit, and is consistently measured against operating profit in the consolidated financial accounts. The effect of applying IFRS 15 to the Group\u2019s revenues from contracts with customers is described in Note 2. Operating segments (NOK thousands) Seismic Subsea / Offshore Supply Other Consolidated Wind Operating segments 2022 2021 2022 2021 2022 2021 2022 2021 2022 2021Segment result Operating income (IFRS 15) 0 0 128 123 130 600 200 642 179 129 24 083 20 882 352 849 330 611Bareboat income (IFRS 16) 28 206 21 515 164 554 156 020 103 215 77 710 0 0 295 975 255 245Operating income from JV * (IFRS 15) 0 0 38 250 35 861 0 0 0 0 38 250 35 861Bareboat income from JV * (IFRS 16) 0 0 15 645 16 197 0 0 0 0 15 645 16 197Gain on sale 0 0 269 723 0 0 1 942 0 0 269 723 1 942Total operating income 28 206 21 515 616 296 338 677 303 857 258 781 24 083 20 882 972 442 639 855Operating expenses 18 975 13 798 141 448 158 172 210 783 191 748 53 128 45 368 424 334 409 086Operating expenses share from JV * 0 0 37 783 34 604 0 0 0 0 37 783 34 604Total operating expenses 18 975 13 798 179 231 192 776 210 783 191 748 53 128 45 368 462 117 443 689Depreciation 14 026 36 135 38 916 86 281 84 192 80 009 5 773 5 536 142 907 207 961Depreciations share from JV * 0 0 18 925 18 673 0 0 0 0 18 925 18 673Impairment on assets 16 053 48 599 -36 564 -192 396 -188 726 0 0 0 -209 237 -143 797Impairment on assets share from JV * 0 0 0 0 0 0 0 0 0 0Total depreciation 30 079 84 734 21 277 -87 442 -104 534 80 009 5 773 5 536 -47 405 82 837Operating profit incl. share of the JVs * -20 848 -77 017 415 788 233 344 197 608 -12 976 -34 818 -30 022 557 730 113 329Net finance items and tax in JV* 0 0 -6 831 -5 571 0 0 0 0 -6 831 -5 571Impairment JV ** 0 0 0 0 0 0 0 0 0 0Share of profit from associated companies 0 0 0 0 0 0 523 874 523 874Operating profit -20 848 -77 017 408 958 227 773 197 608 -12 976 -34 295 -29 148 551 423 108 633Net financial items -144 639 -77 912Tax costs -49 17Profit/loss for the year 406 736 30 737In 2022, the Seismic segment had an impairment of MNOK 16, the Subsea/Offshore Wind segment had a reversal of previous impairment of MNOK 36.6, and the Supply segment had a reversal of previous impairment of MNOK 188.7. In 2021, the Seismic segment had an impairment of MNOK 48.6, and the Subsea/ Offshore Wind segment had a reversal of previous impairment of MNOK -192.4 *) For shares in joint ventures, the figures in the table are included with the share corresponding to the Group\u2019s ownership interest. In this note gross values are used in the result, and equity method are used for shares in joint ventures. No changes in other principles. Refer to Note 7. (NOK thousands) Subsea / Offshore Seismic Wind Supply Other Consolidated Operating segments 2022 2021 2022 2021 2022 2021 2022 2021 2022 2021Segment assets 14 686 53 128 363 751 303 408 856 357 696 649 230 010 197 013 1 464 804 1 250 198Proportion of assets in JV* 0 0 279 687 296 000 0 0 0 0 279 687 296 000Unallocated assets (cash) 0 0 0 0 0 0 0 0 655 653 330 401Assets held for sale 80 695 63 217 0 959 242 0 0 0 0 80 695 1 022 459Total consolidated assets 95 381 116 346 363 751 303 408 856 357 696 649 220 010 197 013 2 201 153 2 603 058Assets incl. share of JV* 1 558 95 381 116 346 643 438 650 856 357 696 649 220 010 197 013 2 480 839 2 899 058Segment current liabilities (excl. mortgage debt) -2 267 -526 -18 357 -23 170 -14 509 -31 244 -182 779 -151 828 -217 911 -206 769Proportion of debts from JV* 0 0 -141 805 -148 475 0 0 0 0 -141 805 -148 475Segment mortgage debt and other -1 080 -1 182long-term liabilities -291 845 -292 646 -201 219 -991 590 -644 941 -686 278 57 294 788 463 711051Total liabilities incl. share of JV* -1 163 -1 440 -1 537-294 112 -293 172 -361 380 235 -659 449 -717 522 -125 485 636 634 427294Investments in non-current assets (excl. periodic maintenance) 1 416 0 29 235 8 261 14 615 43 360 0 0 45 266 51 621Gross sales of non-current assets 0 0 944 093 0 0 21 808 0 0 944 093 21 808*) For shares in joint ventures, the amounts in the table are included in proportions equal to the Group\u2019s ownership interest. The sale of Viking Neptun in November 2023 significantly reduced the debt in the Subsea/Offshore Wind segment. Information on large customers The majority of the Group\u2019s income is earned from a small number of large customers. The table below shows the total operating income from all customers representing more than 10% of the Group\u2019s operating income. The amounts are distributed by segments. Operating segments Seismic Subsea / Offshore Wind Supply 2022 2021 2022 2021 2022 2021 Customer 1 89 764 86 824 Customer 2 193 333 133 334 Customer 3 67 090 Customer 4 71 341 93 415 Customer 5 207 181 164 131 Total operating income large customers 0 0 296 945 318 045 264 674 226 748 Secondary segments are not reported. The Seismic, Subsea/Offshore Wind and Supply business segments are the only groups reported internally. Although the vessels in the Seismic and Subsea/Offshore Wind segments operate in various parts of the world, this is mainly a consequence of the customer\u2019s preferred areas of operation, not necessarily a decision on a geographical focus area. Presenting geographical areas for these segments is considered misleading. For the Supply segment, all operations in 2021 and 2022 are in just one geographical area defined as Europe. Secondary segmentations is therefore omitted. Refer to Note 22 for maturity for future lease income. NOTE 5 \u2013 OTHER INCOME (NOK thousands) 2022 2021 Dividend from \u00abDen Norske Krigsforsikring \u00ab 0 4 025 Reversal of previous write-downs related to receivables 14 102 12 350 from JVs Gain/loss on the sale of vessels 269 723 1 942 Other income 283 826 18 317 Other income of MNOK 283.8 (18.3) is related to the reversal of previous impairments on repayments receivedagainst the claim against Oceanic Seismic Vessels AS MNOK 14.1; see note 13. MNOK 269.7 is associatedwith the sale of Viking Neptun in November 2022. ",
"dimensions": {
"concept": "ifrs-full:DisclosureOfRevenueExplanatory",
"language": "en",
"entity": "scheme:5967007LIEEXZXFOMO31",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"pp-value-45-3": {
"value": "a) Sale of services Except for the seismic fleet, most of the Group\u2019s vessels have been contracted on time charters (TC) throughoutthe year. This means that the charter is agreed as a lease of a vessel with crew. The charterer decides (withinagreed limitations) how the vessel is to be used. The time charter lapses in periods when the vessel is notoperational (is \u201coff hire\u201d), e.g. during repairs. The shipping company pays for the crew, supplies, insurance,repairs, administration, etc., while the charterer pays the \u201cvoyage-dependent\u201d expenses such as bunkers, portfees and expenses for loading and unloading. In addition to leasing the vessel, there may be agreements for additional services in the form of hiring extracrew, sale of provisions and coverage of other operating expenses. Lease income for leasing vessels is recognised on a linear basis through the lease period. The lease periodstarts from the date when the vessel is at the lessee\u2019s disposal, and ends with its agreed return. Lease of crew and payments to cover other operating expenses are recognised on a linear basis through thecontract period When a contract is cancelled, the remaining contract is recorded as income when the vessel is returned. ",
"dimensions": {
"concept": "ifrs-full:DisclosureOfCostOfSalesExplanatory",
"language": "en",
"entity": "scheme:5967007LIEEXZXFOMO31",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"pp-value-46-3": {
"value": "b) Interest income Interest income is recognised proportionally over time in accordance with the effective interest method. Whenreceivables are written down, the capitalised value is reduced to the recoverable amount. The recoverableamount is the estimated future cash flow discounted at the original effective interest rate. After impairment, theinterest income is recognised on the basis of the original effective interest rate. NOTE 8 \u2013 NET FINANCIAL ITEMS (NOK thousands) 2022 2021Interest income 10 831 10 502Other financial income 3 590 0Total financial income 14 421 10 502Interest expense on loans -86 166 -71 529Other interest expenses -277 -1 129Interest cost \u2013 lease liabilities -3 783 -2 885Reversal of previous write-downs of receivables 7 247 7 366Other financial expenses -10 865 -910Total financial expenses -93 844 -69 087Realised currency gains (losses) -94 411 -17 667Change in market value on interest instruments 51 142 18 282Unrealised currency gains (losses) \u2013 related to other -21 584 -14 222items Value change on currency futures 26ecognized at fair -363 -5 721value via profit/loss Total currency gains -65 216 -19 328Net financial items -144 639 -77 913Realised currency loss in 2022 is mainly related to the delivery of Viking Neptun and the correspondingrepayment of debt. ",
"dimensions": {
"concept": "ifrs-full:DisclosureOfFinanceIncomeExpenseExplanatory",
"language": "en",
"entity": "scheme:5967007LIEEXZXFOMO31",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"pp-value-46-4": {
"value": "b) Interest income Interest income is recognised proportionally over time in accordance with the effective interest method. Whenreceivables are written down, the capitalised value is reduced to the recoverable amount. The recoverableamount is the estimated future cash flow discounted at the original effective interest rate. After impairment, theinterest income is recognised on the basis of the original effective interest rate. NOTE 8 \u2013 NET FINANCIAL ITEMS (NOK thousands) 2022 2021Interest income 10 831 10 502Other financial income 3 590 0Total financial income 14 421 10 502Interest expense on loans -86 166 -71 529Other interest expenses -277 -1 129Interest cost \u2013 lease liabilities -3 783 -2 885Reversal of previous write-downs of receivables 7 247 7 366Other financial expenses -10 865 -910Total financial expenses -93 844 -69 087Realised currency gains (losses) -94 411 -17 667Change in market value on interest instruments 51 142 18 282Unrealised currency gains (losses) \u2013 related to other -21 584 -14 222items Value change on currency futures 26ecognized at fair -363 -5 721value via profit/loss Total currency gains -65 216 -19 328Net financial items -144 639 -77 913Realised currency loss in 2022 is mainly related to the delivery of Viking Neptun and the correspondingrepayment of debt. ",
"dimensions": {
"concept": "ifrs-full:DisclosureOfInterestIncomeExpenseExplanatory",
"language": "en",
"entity": "scheme:5967007LIEEXZXFOMO31",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"pp-value-46-5": {
"value": "b) Interest income Interest income is recognised proportionally over time in accordance with the effective interest method. Whenreceivables are written down, the capitalised value is reduced to the recoverable amount. The recoverableamount is the estimated future cash flow discounted at the original effective interest rate. After impairment, theinterest income is recognised on the basis of the original effective interest rate. NOTE 8 \u2013 NET FINANCIAL ITEMS (NOK thousands) 2022 2021Interest income 10 831 10 502Other financial income 3 590 0Total financial income 14 421 10 502Interest expense on loans -86 166 -71 529Other interest expenses -277 -1 129Interest cost \u2013 lease liabilities -3 783 -2 885Reversal of previous write-downs of receivables 7 247 7 366Other financial expenses -10 865 -910Total financial expenses -93 844 -69 087Realised currency gains (losses) -94 411 -17 667Change in market value on interest instruments 51 142 18 282Unrealised currency gains (losses) \u2013 related to other -21 584 -14 222items Value change on currency futures 26ecognized at fair -363 -5 721value via profit/loss Total currency gains -65 216 -19 328Net financial items -144 639 -77 913Realised currency loss in 2022 is mainly related to the delivery of Viking Neptun and the correspondingrepayment of debt. ",
"dimensions": {
"concept": "ifrs-full:DisclosureOfInterestIncomeExplanatory",
"language": "en",
"entity": "scheme:5967007LIEEXZXFOMO31",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"pp-value-46-7": {
"value": "b) Interest income Interest income is recognised proportionally over time in accordance with the effective interest method. Whenreceivables are written down, the capitalised value is reduced to the recoverable amount. The recoverableamount is the estimated future cash flow discounted at the original effective interest rate. After impairment, theinterest income is recognised on the basis of the original effective interest rate. ",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForFinanceIncomeAndCostsExplanatory",
"language": "en",
"entity": "scheme:5967007LIEEXZXFOMO31",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"pp-value-46-8": {
"value": "b) Interest income Interest income is recognised proportionally over time in accordance with the effective interest method. Whenreceivables are written down, the capitalised value is reduced to the recoverable amount. The recoverableamount is the estimated future cash flow discounted at the original effective interest rate. After impairment, theinterest income is recognised on the basis of the original effective interest rate. ",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForInterestIncomeAndExpenseExplanatory",
"language": "en",
"entity": "scheme:5967007LIEEXZXFOMO31",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"pp-value-47-3": {
"value": "c) Dividend income Dividend income is recognised when this has been determined by the General Meeting.2.21 Dividends Disbursements of dividends to the Company\u2019s shareholders are classified as debt from the date when thedividend is determined by the General Meeting. ",
"dimensions": {
"concept": "ifrs-full:DisclosureOfDividendsExplanatory",
"language": "en",
"entity": "scheme:5967007LIEEXZXFOMO31",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"pp-value-47-5": {
"value": "c) Dividend income Dividend income is recognised when this has been determined by the General Meeting.2.21 Dividends Disbursements of dividends to the Company\u2019s shareholders are classified as debt from the date when thedividend is determined by the General Meeting. ",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForDividendsExplanatory",
"language": "en",
"entity": "scheme:5967007LIEEXZXFOMO31",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"pp-value-48-4": {
"value": "2.20 Public subsidies Subsidies from the net pay scheme and the reimbursement scheme for seamen are recorded as a cost reduction(under \u201cpayroll expenses\u201d). ",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForGovernmentGrants",
"language": "en",
"entity": "scheme:5967007LIEEXZXFOMO31",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"pp-value-50-2": {
"value": "2.22 Events after the balance sheet date New information after the balance sheet date on the Company\u2019s financial position on that date has beenconsidered in the annual accounts. Subsequent events that do not affect the Company\u2019s financial position onthe balance sheet date, but will affect it in the future, are reported if they are significant. NOTE 27 \u2013 SUBSEQUENT EVENTS AND OTHER INFORMATION Refinancing On February 22, 2023, Eidesvik announced that it had agreed on a term sheet with its financial institutions forrefinancing of its debt. On March 28, 2023, the final agreements and documentation were in place and the newterms for the Group\u2019s financing became effective. The new debt will mature on February 28, 2026, and hencereclassify the majority of the outstanding debt from current liabilities to non-current liabilities. See Note 20 forfurther information. Edda Sun / Viking Reach Eidesvik has formed an entity with Reach Subsea ASA (\u201cReach\u201d). The entity will own and operate the SubseaIMR vessel Viking Reach (former named Edda Sun). Eidesvik will own 50.1% of the new entity. The entity hasbeen financed by equity from both parties and around MNOK 150 of bank financing. The vessel commenced on a 6-year time charter with Reach in the start of Q2 2023. Going forward the vesselwill be operated by Eidesvik. Successful completion of private placement Eidesvik successfully completed a private placement of MNOK 130, through an allocation of 10,833,333 OfferShares at a price per Offer Share of NOK 12 (the \"Offer Price\") on March 2, 2023. The private placement wasapproved in an extraordinary shareholder meeting March 24, 2023. The net proceeds to the Company from thePrivate Placement has been used to fund Eidesvik\u2019 s share of the equity in the entity formed with Reach Subsea,which main purpose is to acquire, own and operate the subsea IMR vessel \"Viking Reach\" (former named \"EddaSun\"), working capital for the JV and general corporate purposes. Eidesvik Invest AS, the Company's mainowner provided bridge financing of MNOK 96 as the completion of the acquisition of the vessel Viking Reachwas done before the private placement proceeds was received. MNOK 77.82 of the bridge financing wasconverted to equity in the private placement. The residual is being repaid from the proceeds from the privateplacement. The board of the Company was given the authority by the extraordinary shareholder meeting held on March 242023, to carry out a subsequent offering of up to 2,000,000 new shares at the Offer Price, which, subject toapplicable securities law, will be directed towards the Company's existing shareholders at March 2, 2023. New contracts Wintershall Dea Norge AS declared an option to extend the contract for the supply vessel Viking Princess fromJuly 2023 in direct continuation of the current contract, extending the firm period to January 2024. Eidesvik has been awarded a contract with Wintershall Dea Norge AS for the vessel Viking Queen. The firmperiod is 12 months with options for further extensions. The new contract will commence in Q2, 2023. Sale of vessel Eidesvik MPSV AS, a wholly owned subsidiary of Eidesvik Offshore ASA, has sold the seismic vessel VikingVanquish. Delivery of the vessel took place at March 28, 2023. The sale of the vessel will result in an immaterialaccounting effect for Q1 2023.",
"dimensions": {
"concept": "ifrs-full:DisclosureOfEventsAfterReportingPeriodExplanatory",
"language": "en",
"entity": "scheme:5967007LIEEXZXFOMO31",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"pp-value-50-4": {
"value": "2.22 Events after the balance sheet date New information after the balance sheet date on the Company\u2019s financial position on that date has beenconsidered in the annual accounts. Subsequent events that do not affect the Company\u2019s financial position onthe balance sheet date, but will affect it in the future, are reported if they are significant. 2.26 Changes in accounting policies The accounting principles applied are consistent with the principles used in previous periods.2.27 Significant accounting estimates and matters associated with uncertainty in estimates Preparing accounts in accordance with applicable standards and practice requires the management to prepareestimates and make assessments that affect recorded assets and liabilities as well as information on contingentassets and latent obligations on the reporting date, including income and expenses for the reported period. Thefinal outcomes may differ from the estimates. Some amounts included in or affecting the accounts andassociated notes require estimates, which in turn mean that the Group has to make assessments with regardto values and matters which are not known at the time of preparing the accounts. A significant \u201caccountingestimate\u201d could be defined as an estimate which is important to giving a true picture of the Group\u2019s financialposition, but is also the result of difficult, subjective and complex assessments made by the management. Suchestimates are often uncertain by nature. The management reviews such estimates on an ongoing basis, basedon both history and experience, but also from consultations with experts, trend analyses, and other methodswhich are considered relevant for each estimate. Estimates and assessments that could have a significanteffect on the accounts are described below. a) Vessels - Economic life/useful life The level of depreciation depends on the estimated economic life of the vessels. The estimate is based onhistory and experience related to the vessels which are included in the Group. The Group\u2019s main strategy is tokeep the vessels until they are scrapped. However, there are ongoing evaluations where the main strategy canbe deviated from when financial conditions dictate. The estimate is reviewed each year. A change in theestimate will affect depreciation in future periods. - Residual value at the end of economic life The level of depreciation depends on the estimated residual value on the balance sheet date. Expected residualvalue is based on the knowledge of scrap values for vessels. The scrap value is dependent on steel prices.The estimate of scrap value is subject to annual review. - Impairment On the balance sheet date, the Group has made an assessment of whether there are indications that vesselsmay need to be impaired. When such indications exist, the recoverable amount for the vessel is estimated, and the value of the vessel iswritten down to the recoverable amount. Refer to Note 12 for more details on the principles, estimates and matters associated with uncertainty in theestimate that have been applied. b) Leases Recognition of leases and income For contracts where the Group acts as a lessor, it classifies each of its leases as either an operating lease ora finance lease. A lease is classified as a finance lease if it transfers substantially all the risks and rewardsincidental to ownership of an underlying asset. A lease is classified as an operating lease if it does not transfersubstantially all the risks and rewards incidental to ownership of an underlying asset. The group as a lessor does not have any finance leases. Operating leases For operating leases, the Group 15ecognized lease payments as other income, mainly on a straight-line basis,unless another systematic basis is more representative of the pattern in which benefit from the use of theunderlying asset is diminished. The Group 15ecognized costs incurred in earning the lease income in otheroperating expenses. The Group adds initial direct costs incurred in obtaining an operating lease to the carryingamount of the underlying asset and 15ecognized those costs as an expense over the lease term on the samebasis as the rental income. c) Long-term receivables Under other non-current receivables, EIOF recorded in 2017 a receivable of MUSD 27.5 (total MNOK 235). The2017 accounts assumed that the receivables from Global Seismic Shipping AS had a value of 45% of par.Consequently, in the accounts as at December 31, 2017, these receivables were written down by 55%. Nochanges have been made to this as at December 31, 2021. If the reason for the impairment lapses at a later time, and the lapse can be tied to an event taking place afterthe impairment is recognised, the previous impairment is reversed. This evaluation has to be made each quarterbased on an overall assessment. Refer to Note 7 for a more detailed description/analysis. As the repaymentsare repaid, the impaired part of the payment will be recorded as income. Any reversal will be recorded as otherfinancial income. d) Climate and Regulatory Risks In preparing the financial statement, the Group, has considered the impact of regulatory changes in particularin the context in climate change risks. The considerations did not impact our judgement and estimates in thecurrent year. Climate risk is also considered in estimates that include the use of future cashflows. The most important key assumptions and sources of uncertainties identified are: \u2022 Usefull life of vessels \u2022 Residual value of vessels \u2022 Cash flow from operations \u2022 Short term and long term investments Eidesvik has been a frontrunner in adopting new technologies that reduces emissions. By the end of 2022 92%of the fleet has hybrid fuel solutions and the company achieved 26.5% year on year reduction in CO2 reductionper day. Refer to Note 12 for more information. ",
"dimensions": {
"concept": "ifrs-full:DescriptionOfOtherAccountingPoliciesRelevantToUnderstandingOfFinancialStatements",
"language": "en",
"entity": "scheme:5967007LIEEXZXFOMO31",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"pp-value-51-2": {
"value": "2.23 Earnings per share accruing to the parent company\u2019s shareholders The calculation of earnings per share is based on the majority share of net profit, using the weighted averageoutstanding number of shares through the year. The diluted earnings per share are based on the majority shareof the net profit using the average outstanding number of shares and outstanding options. NOTE 10 \u2013 EARNINGS PER SHARE (NOK thousands) 2022 2021 Profit/loss for the year attributable to the majority 346 056 -15 746 shareholders Number of issued ordinary shares (thousands) 62 150 62 150 Number of issued ordinary shares (thousands) 62 150 62 150 Earnings per share 5,57 -0,25 Diluted earnings per share 5,57 -0,25 No dividends were paid in 2022, and the Board has not proposed any payment of dividends in 2023.",
"dimensions": {
"concept": "ifrs-full:DisclosureOfEarningsPerShareExplanatory",
"language": "en",
"entity": "scheme:5967007LIEEXZXFOMO31",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"pp-value-51-4": {
"value": "2.23 Earnings per share accruing to the parent company\u2019s shareholders The calculation of earnings per share is based on the majority share of net profit, using the weighted averageoutstanding number of shares through the year. The diluted earnings per share are based on the majority shareof the net profit using the average outstanding number of shares and outstanding options. ",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForEarningsPerShareExplanatory",
"language": "en",
"entity": "scheme:5967007LIEEXZXFOMO31",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"pp-value-52-2": {
"value": "2.24 Taxes Taxes are expensed as they are incurred. The tax costs consist of tax payable and the change in deferredtaxes. Deferred tax/deferred tax assets are calculated by the liability method. Deferred tax/deferred tax assetsare calculated based on tax rates and tax legislation which has been adopted (or adopted for all practicalpurposes) on the balance sheet date, and which is assumed to be used when the deferred tax is settled.Deferred tax/deferred tax assets are calculated per tax area and is presented gross in the balance sheet. Deferred tax assets are recognised to the extent that it is likely that there will be taxable income in the future,and that the temporary differences can be deducted from this income. The parent company and some other companies in the Group are subject to ordinary taxation. Severalcompanies in the Group are subject to tonnage tax, classified as an operating expense and not in accordancewith IAS 12 Taxes abroad are recorded in the periods in which they are incurred. To the extent that tax is calculated on thebasis of income, this is classified as an income reduction and presented together with operating income. Taxesabroad calculated on the basis of net profit are classified as tax costs. NOTE 9 \u2013 TAX 2022 (NOK thousands) 2021 Tax cost Norway and abroad 49 -16 Tax costs 49 -16 Fixed asset reserve 48 067 20 585 Profit and loss account -15 483 -19 638 Pension liabilities 417 282 Loss carried forward -840 253 -464 433 * Total temporary differences -807 251 -463 332 Recognised deferred tax assets 0 0 Applied tax rate 22 % 22 % Deferred tax assets are not recognised in the balance sheet due to uncertainty as to when such assets may berealised. Tax payable Tax payable for the year subject to the tonnage tax regime 0 0 Other corporation tax payable, Norway and abroad 0 -16 Total tax payable 49 -16 Explanation of taxes in the income statement: Profit/loss before taxes 406 784 30 720 Calculated 22%/22% tax 89 493 6 758 Tax effect of: Permanent differences/ results subject to the tonnage tax/ difference tax rate abroad -89 444 -6 775 Calculated tax for the year 49 -16 The Group\u2019s effective tax rate 0 % 0 % * Temporary differences are estimated based on preliminary tax assessments. The tonnage tax, which is determined based on the vessel`s net weight, is booked as other operating expenses.",
"dimensions": {
"concept": "ifrs-full:DisclosureOfDeferredTaxesExplanatory",
"language": "en",
"entity": "scheme:5967007LIEEXZXFOMO31",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"pp-value-52-3": {
"value": "2.24 Taxes Taxes are expensed as they are incurred. The tax costs consist of tax payable and the change in deferredtaxes. Deferred tax/deferred tax assets are calculated by the liability method. Deferred tax/deferred tax assetsare calculated based on tax rates and tax legislation which has been adopted (or adopted for all practicalpurposes) on the balance sheet date, and which is assumed to be used when the deferred tax is settled.Deferred tax/deferred tax assets are calculated per tax area and is presented gross in the balance sheet. Deferred tax assets are recognised to the extent that it is likely that there will be taxable income in the future,and that the temporary differences can be deducted from this income. The parent company and some other companies in the Group are subject to ordinary taxation. Severalcompanies in the Group are subject to tonnage tax, classified as an operating expense and not in accordancewith IAS 12 Taxes abroad are recorded in the periods in which they are incurred. To the extent that tax is calculated on thebasis of income, this is classified as an income reduction and presented together with operating income. Taxesabroad calculated on the basis of net profit are classified as tax costs. NOTE 9 \u2013 TAX 2022 (NOK thousands) 2021 Tax cost Norway and abroad 49 -16 Tax costs 49 -16 Fixed asset reserve 48 067 20 585 Profit and loss account -15 483 -19 638 Pension liabilities 417 282 Loss carried forward -840 253 -464 433 * Total temporary differences -807 251 -463 332 Recognised deferred tax assets 0 0 Applied tax rate 22 % 22 % Deferred tax assets are not recognised in the balance sheet due to uncertainty as to when such assets may berealised. Tax payable Tax payable for the year subject to the tonnage tax regime 0 0 Other corporation tax payable, Norway and abroad 0 -16 Total tax payable 49 -16 Explanation of taxes in the income statement: Profit/loss before taxes 406 784 30 720 Calculated 22%/22% tax 89 493 6 758 Tax effect of: Permanent differences/ results subject to the tonnage tax/ difference tax rate abroad -89 444 -6 775 Calculated tax for the year 49 -16 The Group\u2019s effective tax rate 0 % 0 % * Temporary differences are estimated based on preliminary tax assessments. The tonnage tax, which is determined based on the vessel`s net weight, is booked as other operating expenses.",
"dimensions": {
"concept": "ifrs-full:DisclosureOfIncomeTaxExplanatory",
"language": "en",
"entity": "scheme:5967007LIEEXZXFOMO31",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"pp-value-52-4": {
"value": "2.24 Taxes Taxes are expensed as they are incurred. The tax costs consist of tax payable and the change in deferredtaxes. Deferred tax/deferred tax assets are calculated by the liability method. Deferred tax/deferred tax assetsare calculated based on tax rates and tax legislation which has been adopted (or adopted for all practicalpurposes) on the balance sheet date, and which is assumed to be used when the deferred tax is settled.Deferred tax/deferred tax assets are calculated per tax area and is presented gross in the balance sheet. Deferred tax assets are recognised to the extent that it is likely that there will be taxable income in the future,and that the temporary differences can be deducted from this income. The parent company and some other companies in the Group are subject to ordinary taxation. Severalcompanies in the Group are subject to tonnage tax, classified as an operating expense and not in accordancewith IAS 12 Taxes abroad are recorded in the periods in which they are incurred. To the extent that tax is calculated on thebasis of income, this is classified as an income reduction and presented together with operating income. Taxesabroad calculated on the basis of net profit are classified as tax costs. NOTE 9 \u2013 TAX 2022 (NOK thousands) 2021 Tax cost Norway and abroad 49 -16 Tax costs 49 -16 Fixed asset reserve 48 067 20 585 Profit and loss account -15 483 -19 638 Pension liabilities 417 282 Loss carried forward -840 253 -464 433 * Total temporary differences -807 251 -463 332 Recognised deferred tax assets 0 0 Applied tax rate 22 % 22 % Deferred tax assets are not recognised in the balance sheet due to uncertainty as to when such assets may berealised. Tax payable Tax payable for the year subject to the tonnage tax regime 0 0 Other corporation tax payable, Norway and abroad 0 -16 Total tax payable 49 -16 Explanation of taxes in the income statement: Profit/loss before taxes 406 784 30 720 Calculated 22%/22% tax 89 493 6 758 Tax effect of: Permanent differences/ results subject to the tonnage tax/ difference tax rate abroad -89 444 -6 775 Calculated tax for the year 49 -16 The Group\u2019s effective tax rate 0 % 0 % * Temporary differences are estimated based on preliminary tax assessments. The tonnage tax, which is determined based on the vessel`s net weight, is booked as other operating expenses.",
"dimensions": {
"concept": "ifrs-full:DisclosureOfTaxReceivablesAndPayablesExplanatory",
"language": "en",
"entity": "scheme:5967007LIEEXZXFOMO31",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"pp-value-52-6": {
"value": "2.24 Taxes Taxes are expensed as they are incurred. The tax costs consist of tax payable and the change in deferredtaxes. Deferred tax/deferred tax assets are calculated by the liability method. Deferred tax/deferred tax assetsare calculated based on tax rates and tax legislation which has been adopted (or adopted for all practicalpurposes) on the balance sheet date, and which is assumed to be used when the deferred tax is settled.Deferred tax/deferred tax assets are calculated per tax area and is presented gross in the balance sheet. Deferred tax assets are recognised to the extent that it is likely that there will be taxable income in the future,and that the temporary differences can be deducted from this income. The parent company and some other companies in the Group are subject to ordinary taxation. Severalcompanies in the Group are subject to tonnage tax, classified as an operating expense and not in accordancewith IAS 12 Taxes abroad are recorded in the periods in which they are incurred. To the extent that tax is calculated on thebasis of income, this is classified as an income reduction and presented together with operating income. Taxesabroad calculated on the basis of net profit are classified as tax costs. ",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForDeferredIncomeTaxExplanatory",
"language": "en",
"entity": "scheme:5967007LIEEXZXFOMO31",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"pp-value-52-7": {
"value": "2.24 Taxes Taxes are expensed as they are incurred. The tax costs consist of tax payable and the change in deferredtaxes. Deferred tax/deferred tax assets are calculated by the liability method. Deferred tax/deferred tax assetsare calculated based on tax rates and tax legislation which has been adopted (or adopted for all practicalpurposes) on the balance sheet date, and which is assumed to be used when the deferred tax is settled.Deferred tax/deferred tax assets are calculated per tax area and is presented gross in the balance sheet. Deferred tax assets are recognised to the extent that it is likely that there will be taxable income in the future,and that the temporary differences can be deducted from this income. The parent company and some other companies in the Group are subject to ordinary taxation. Severalcompanies in the Group are subject to tonnage tax, classified as an operating expense and not in accordancewith IAS 12 Taxes abroad are recorded in the periods in which they are incurred. To the extent that tax is calculated on thebasis of income, this is classified as an income reduction and presented together with operating income. Taxesabroad calculated on the basis of net profit are classified as tax costs. ",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForIncomeTaxExplanatory",
"language": "en",
"entity": "scheme:5967007LIEEXZXFOMO31",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"pp-value-52-8": {
"value": "2.24 Taxes Taxes are expensed as they are incurred. The tax costs consist of tax payable and the change in deferredtaxes. Deferred tax/deferred tax assets are calculated by the liability method. Deferred tax/deferred tax assetsare calculated based on tax rates and tax legislation which has been adopted (or adopted for all practicalpurposes) on the balance sheet date, and which is assumed to be used when the deferred tax is settled.Deferred tax/deferred tax assets are calculated per tax area and is presented gross in the balance sheet. Deferred tax assets are recognised to the extent that it is likely that there will be taxable income in the future,and that the temporary differences can be deducted from this income. The parent company and some other companies in the Group are subject to ordinary taxation. Severalcompanies in the Group are subject to tonnage tax, classified as an operating expense and not in accordancewith IAS 12 Taxes abroad are recorded in the periods in which they are incurred. To the extent that tax is calculated on thebasis of income, this is classified as an income reduction and presented together with operating income. Taxesabroad calculated on the basis of net profit are classified as tax costs. ",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForTaxesOtherThanIncomeTaxExplanatory",
"language": "en",
"entity": "scheme:5967007LIEEXZXFOMO31",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"pp-value-53-2": {
"value": "2.25 Discontinued operations \u2013 assets and liabilities held for sale Non-current assets (or disposal groups) are classified as \u2018held for sale\u2019 when the capitalised amount is mainlyrealised through a sales transaction, and a sale is considered highly likely. They are measured at the lower ofcapitalised value and fair value minus sales costs. NOTE 4 \u2013 SEGMENT INFORMATION The Group\u2019s activities are divided into strategic operating segments according to the nature of the vessels\u2019activities. The various operating segments offer different shipping services, address partially different customergroups, and have different risk profiles. The Group is divided into the following operating segments: a. Seismic b. Subsea/Offshore Wind c. Supply d. Other The Seismic segment delivers shipping services to customers who produce seismic data. At the end of 2022,all seismic vessels were in layup and held for sale. Refer to note 12 for further information of the seismic fleet.The Subsea/Offshore Wind segment delivers shipping services for subsea work for the oil industry. The vesselsare specially adapted to tasks such as subsea inspection, maintenance, repairs and construction. Several ofthe Company\u2019s subsea vessels meet the requirements in the Offshore Wind market, and one vessel is currentlychartered in this market. The Supply segment delivers services to the offshore oil industry. The vessels deliver supplies to rigs, andfunction as part of the rig\u2019s emergency preparedness. Transactions between segments are eliminated. These are mainly administration costs that are charged to eachsegment. Long-term financial items in the Group are not allocated, as the Group\u2019s liabilities are mainly included in fleetfacilities. Short-term liabilities are allocated to the segments where possible. Items that do not belong to any of the segments is recorded under \u201cOther\u201d. Segment performance is assessed on the basis of operating profit, and is consistently measured against operating profit in the consolidated financial accounts. The effect of applying IFRS 15 to the Group\u2019s revenues from contracts with customers is described in Note 2. Operating segments (NOK thousands) Seismic Subsea / Offshore Supply Other Consolidated Wind Operating segments 2022 2021 2022 2021 2022 2021 2022 2021 2022 2021Segment result Operating income (IFRS 15) 0 0 128 123 130 600 200 642 179 129 24 083 20 882 352 849 330 611Bareboat income (IFRS 16) 28 206 21 515 164 554 156 020 103 215 77 710 0 0 295 975 255 245Operating income from JV * (IFRS 15) 0 0 38 250 35 861 0 0 0 0 38 250 35 861Bareboat income from JV * (IFRS 16) 0 0 15 645 16 197 0 0 0 0 15 645 16 197Gain on sale 0 0 269 723 0 0 1 942 0 0 269 723 1 942Total operating income 28 206 21 515 616 296 338 677 303 857 258 781 24 083 20 882 972 442 639 855Operating expenses 18 975 13 798 141 448 158 172 210 783 191 748 53 128 45 368 424 334 409 086Operating expenses share from JV * 0 0 37 783 34 604 0 0 0 0 37 783 34 604Total operating expenses 18 975 13 798 179 231 192 776 210 783 191 748 53 128 45 368 462 117 443 689Depreciation 14 026 36 135 38 916 86 281 84 192 80 009 5 773 5 536 142 907 207 961Depreciations share from JV * 0 0 18 925 18 673 0 0 0 0 18 925 18 673Impairment on assets 16 053 48 599 -36 564 -192 396 -188 726 0 0 0 -209 237 -143 797Impairment on assets share from JV * 0 0 0 0 0 0 0 0 0 0Total depreciation 30 079 84 734 21 277 -87 442 -104 534 80 009 5 773 5 536 -47 405 82 837Operating profit incl. share of the JVs * -20 848 -77 017 415 788 233 344 197 608 -12 976 -34 818 -30 022 557 730 113 329Net finance items and tax in JV* 0 0 -6 831 -5 571 0 0 0 0 -6 831 -5 571Impairment JV ** 0 0 0 0 0 0 0 0 0 0Share of profit from associated companies 0 0 0 0 0 0 523 874 523 874Operating profit -20 848 -77 017 408 958 227 773 197 608 -12 976 -34 295 -29 148 551 423 108 633Net financial items -144 639 -77 912Tax costs -49 17Profit/loss for the year 406 736 30 737In 2022, the Seismic segment had an impairment of MNOK 16, the Subsea/Offshore Wind segment had a reversal of previous impairment of MNOK 36.6, and the Supply segment had a reversal of previous impairment of MNOK 188.7. In 2021, the Seismic segment had an impairment of MNOK 48.6, and the Subsea/ Offshore Wind segment had a reversal of previous impairment of MNOK -192.4 *) For shares in joint ventures, the figures in the table are included with the share corresponding to the Group\u2019s ownership interest. In this note gross values are used in the result, and equity method are used for shares in joint ventures. No changes in other principles. Refer to Note 7. (NOK thousands) Subsea / Offshore Seismic Wind Supply Other Consolidated Operating segments 2022 2021 2022 2021 2022 2021 2022 2021 2022 2021Segment assets 14 686 53 128 363 751 303 408 856 357 696 649 230 010 197 013 1 464 804 1 250 198Proportion of assets in JV* 0 0 279 687 296 000 0 0 0 0 279 687 296 000Unallocated assets (cash) 0 0 0 0 0 0 0 0 655 653 330 401Assets held for sale 80 695 63 217 0 959 242 0 0 0 0 80 695 1 022 459Total consolidated assets 95 381 116 346 363 751 303 408 856 357 696 649 220 010 197 013 2 201 153 2 603 058Assets incl. share of JV* 1 558 95 381 116 346 643 438 650 856 357 696 649 220 010 197 013 2 480 839 2 899 058Segment current liabilities (excl. mortgage debt) -2 267 -526 -18 357 -23 170 -14 509 -31 244 -182 779 -151 828 -217 911 -206 769Proportion of debts from JV* 0 0 -141 805 -148 475 0 0 0 0 -141 805 -148 475Segment mortgage debt and other -1 080 -1 182long-term liabilities -291 845 -292 646 -201 219 -991 590 -644 941 -686 278 57 294 788 463 711051Total liabilities incl. share of JV* -1 163 -1 440 -1 537-294 112 -293 172 -361 380 235 -659 449 -717 522 -125 485 636 634 427294Investments in non-current assets (excl. periodic maintenance) 1 416 0 29 235 8 261 14 615 43 360 0 0 45 266 51 621Gross sales of non-current assets 0 0 944 093 0 0 21 808 0 0 944 093 21 808*) For shares in joint ventures, the amounts in the table are included in proportions equal to the Group\u2019s ownership interest. The sale of Viking Neptun in November 2023 significantly reduced the debt in the Subsea/Offshore Wind segment. Information on large customers The majority of the Group\u2019s income is earned from a small number of large customers. The table below shows the total operating income from all customers representing more than 10% of the Group\u2019s operating income. The amounts are distributed by segments. Operating segments Seismic Subsea / Offshore Wind Supply 2022 2021 2022 2021 2022 2021 Customer 1 89 764 86 824 Customer 2 193 333 133 334 Customer 3 67 090 Customer 4 71 341 93 415 Customer 5 207 181 164 131 Total operating income large customers 0 0 296 945 318 045 264 674 226 748 Secondary segments are not reported. The Seismic, Subsea/Offshore Wind and Supply business segments are the only groups reported internally. Although the vessels in the Seismic and Subsea/Offshore Wind segments operate in various parts of the world, this is mainly a consequence of the customer\u2019s preferred areas of operation, not necessarily a decision on a geographical focus area. Presenting geographical areas for these segments is considered misleading. For the Supply segment, all operations in 2021 and 2022 are in just one geographical area defined as Europe. Secondary segmentations is therefore omitted. Refer to Note 22 for maturity for future lease income. Subsidiaries with substantial minority interests The Group has two subsidiaries where there are substantial minority interests. Of companies with minorityinterests, only the companies below are considered material. 2022: Entity Country Minority interests (%) Minority share of profit/loss Norway 25,25 % 54 738 Eidesvik Neptun AS Norway 25,25 % 5 942 Eidesvik Neptun II AS 60 680 2021: Entity Country Minority interests (%) Minority share of profit/loss Norway 19,89 % -1 897 Eidesvik Supply AS * Norway 25,25 % 48 673 Eidesvik Neptun AS Norway 25,25 % -292 Eidesvik Neptun II AS 46 482 * The Group has in September 2021 bought out the the minority owners, and the minority share of profit/loss isper August 31, 2021. Summary of financial information for subsidiaries with substantial minority interests: 2022: Entity Assets Non-current Current Of which Equity Liabilities Long-term Short-termassets assets bank 298 519 0 298 519 29 149 250 136 48 383 0 48 383Eidesvik Neptun AS 83 693 0 83 693 51 715 88 83 605 0 83 605Eidesvik Neptun II AS Entity Revenue EBITDA Depr. / Financial Financial Net financial Taxes Profit/loss forimpairment income expenses items the year395 021 368 005 0 1 096 152 340 -151 244 0 216 761Eidesvik Neptun AS 157 396 2 071 0 545 57 488 0 2 558Eidesvik Neptun II AS 2021: Entity Assets Non-current Current Of which Equity Liabilities Long-term Short-termassets assets bank 196 773 170 667 26 105 3 442 1 207 195 566 132 329 63 236Eidesvik Supply AS 1 016 679 944 775 71 904 1 345 33 473 983 206 942 107 41 099Eidesvik Neptun AS 76 003 0 76 003 34 788 -24 207 100 209 0 100 209Eidesvik Neptun II AS Entity Revenue EBITDA Depr. / Financial Financial Net financial Taxes Profit/loss forimpairment income expenses items the year41 047 7 564 14 781 27 12 931 -12 904 0 -20 121Eidesvik Supply AS 103 727 86 240 -165 581 26 59 109 -59 082 0 192 739Eidesvik Neptun AS 128 095 -4 942 0 3 476 382 3 094 0 -1 848Eidesvik Neptun II AS NOTE 12 \u2013 TANGIBLE FIXED ASSETS 2022: Total Operating other Periodic Port equipmenfixed maintenaTotal New build (NOK thousands) Property facilities t assets Vessels nce vessels contracts Total (*)Acquisition cost 1 January 2022 37 414 3 594 42 559 83 567 5 890 541 359 633 6 250 174 0 6 333 741Addition 0 0 372 372 45 266 56 183 101 448 0 101 821Disposal 0 0 -2 700 -2 700 -1 288 357 -61 268 -1 349 625 0 -1 352 32531 December 2022 37 414 3 594 40 231 81 239 4 647 450 354 548 5 001 998 0 5 083 236Accumulated depreciation and impairments 1 January 2022 19 624 3 494 39 926 63 044 4 034 132 285 076 4 319 208 0 4 382 251Depreciation in the year 180 0 93 273 87 156 49 978 137 134 0 137 407Impairment for the year 0 0 0 0 16 053 0 16 053 0 16 053Reversal of previous 0 0 0 0 -225 290 0 -225 290 0 -225 290impairment for the year Disposals 0 0 -625 -625 -344 232 -44 350 -388 582 0 -389 20831 December 2022 19 804 3 494 39 393 62 692 3 567 818 290 704 3 858 522 0 3 921 214Book value 17 610 100 837 18 547 1 079 632 63 844 1 143 475 0 1 162 0232021: Total other Periodic Port Operating fixed maintenanTotal New build (NOK thousands) Property facilities equipment assets Vessels ce vessels contracts Total (*)Acquisition cost 1 January 2021 37 414 3 717 42 529 83 660 5 989 257 352 385 6 341 641 0 6 425 301Addition 0 0 31 31 51 621 36 899 88 521 0 88 551Disposal 0 -123 0 -123 -150 336 -29 651 -179 988 0 -180 11131 December 2021 37 414 3 594 42 559 83 567 5 890 541 359 633 6 250 174 0 6 333 741Accumulated depreciation and impairments 1 January 2021 19 443 3 494 39 277 62 215 4 170 167 248 592 4 418 759 0 4 480 974Depreciation in the year 180 0 648 829 140 026 62 399 202 425 0 203 254Impairment for the year 0 0 0 0 76 894 0 76 894 0 76 894Reversal of previous impairment for the year -220 6910 0 0 0 -220 691 0 -220 691 0 Disposals 0 0 0 0 -132 265 -25 915 -158 180 0 -158 18031 December 2021 19 624 3 494 39 926 63 044 4 034 132 285 076 4 319 208 0 4 382 251Book value 17 790 100 2 633 20 523 1 856 410 74 557 1 930 965 0 1 951 490(*) right-of-use assets TNOK 55 489 and depreciation TNOK 5 563 is not included in the table above. Refer to note 22 IFRS 16, Lease. Please refer to Note 20 for information on mortgaged assets. Refer to Note 2, point 2.5, for details of depreciation periods for vessels and lumping together of components. The Company has in November 2022 sold the Subsea/Wind vessel Viking Neptun, the sale generated a gain of MNOK 269.7. The PSV Viking Athene was sold in April 2021, and sale generated a gain of MNOK 1.9. All four seismic vessels are classified as held-for-sale. In determining whether the decisions of sale of the vessels are assessed as discontinued operations or asset held for sale, the Group have concluded that the seismic operations is not a major line of business. The assessment made is based on the fact that the seismic operation\u2019s representative share of the Group\u2019s total revenue is not viewed as significant (4% for 2022). Consistently discontinued operations is not applicable, and the vessels are classified as asset held for sale in accordance with IFRS 5. All four seismic vessels are classified as held-for-sale and are included in the table above. Refer to note 20 for Liabilities related to Assets held for sale. Property/port facilities include plots/land valued at MNOK 17.7 (MNOK 17.9) which are not depreciated. Impairment tests are performed on individual cash generating entities (vessels) when indications of impairment or reversal of previous impairments are identified. Due to observed indicators, such as improved market conditions and increase in market interest rates, the vessels\u2019 book values have been tested for impairment and reversal of previous impairments at all quarter end during 2022. Based on these tests, Eidesvik recognized a net reversal of impairment of MNOK 209.2 during 2022. Of this, MNOK 36.6 was related to reversal of impairment of one subsea/offshore wind vessel, and MNOK 188.6 is related to reversal of impairments of five PSVs. In addition, one seismic vessel was impaired with MNOK 16.0. The Group monitors the presence of impairment indicators during the periodical financial reporting, and thus may update its assessments of impairments to reflect further changes in the underlying market assumptions. Broker estimates are not used as an approximate sales value on the balance sheet date as there are few observed sales of the type of vessels the Company owns. For the assessment of value in use, expected future cash flows are used, discounted to net present value using a discount rate before taxes reflecting the market-based time value of money, as well as risk specific to the asset. The discount rate is derived from a weighted average cost of capital (WACC) for market players. The average WACC used in the calculations per December 31, 2022, is 9.2%. This takes into account that the Group\u2019s business is mainly within the tonnage tax system, and the calculated WACC is assumed to apply both before and after tax. The capital structure used in the weighted average cost of capital is based on an assumed capital structure in comparable companies with similar assets in a normal situation. Equity cost is based on the expected required rate of return for the Group\u2019s investors. Debt costs are based on the risk-free interest rate, plus a premium equivalent to the difference between risk-free rate and market rates. The beta factors are evaluated quarterly when deemed necessary, and otherwise at least annually, on the basis of publicly availablemarket data for identified comparable companies and the main index on the Oslo Stock Exchange. Future cash flows are estimated on the basis of estimated remaining useful life, which may exceed 5 years.The cash flows used in the impairment tests for 2022 are based on and reconciled against the financial forecastswhich the Group uses for internal planning purposes as well as present to its lenders. Important elements inestimated cash flows are the long-term inflation rate, the contract situation (order backlog), the utilization rate,ordinary operating expenses, periodic maintenance (docking), charter rates, and exchange rates. In 2022, the Seismic segment had an impairment charge of MNOK 16.0 (recoverable amount MNOK 106.7), theSubsea/Offshore Wind segment had a reversal impairment of MNOK 36.6 (MNOK 443.4), and the Supplysegment had a reversal of MNOK 188.6 (MNOK 989.0). In 2021, net reversal of previous impairments of MNOK143.8 were charged. There is significant uncertainty associated with the assumptions for the value in use calculations. Thecalculation is based on market prospects which are weak in all three segments in the short and medium term.On a general view, it is considered that the seismic survey market will see a few years after the balance sheetdate where layups or reduced rates must be expected for the vessels that are not on fixed contracts. The sameconsiderations apply to the subsea and supply markets. The expected future earnings used in the calculations are implicitly adjusted for utilisation rate adapted to thisgeneral market view. Therefore, sensitivity calculations have also been performed for the value in usecalculations and the impaired amounts, in order to highlight the uncertainty in the calculations. If the utilisation rate for the entire fleet are assumed to be reduced by 5 percentage points on uncontractedincome, the impairment would not be affected. If the WACC assumed had increased to 10.5%, the impairmentcharge would not be affected. Climate-related matters The Group constantly monitors the latest regulatory changes in relation to climate-related matters. The Group has already invested in hybrid battery solutions for the majority of its fleet. For further green fuelsand technologies to reduce CO2 emission for the fleet the Group continues to investigate this together with ourcustomers, suppliers and also follow up on possibilities for public funding. Forecast for the vessels includegreen investments to the extent relevant and are therefore included in assessment of impairment and reversalof impairment. The investments done by the Group so far with focus on reduction in CO2 has historicallycontributed to securing long term contracts for the vessels in particular in periods where there has been excesscapacity in the market. Higher fuel price due to CO2 levels or the cost of green fuels will for the most part beforwarded to the customer, hence there is limited impact in the Group\u2019s OPEX short term. For the Group\u2019s long term sustainability goals of 50% reduction in CO2 in 2030, and climate neutral in 2050 tobe met, both newbuild programs and new technology has to be implemented and yield appropriate returns. Longterm investments are evaluated on this basis. In the current market, with the existing fleet in the industry, current new build plans and commercial maturityof new emission technology there is no impact on residual values or useful life of the Group\u2019s existing vessels.All the Group\u2019s vessels comply with current environmental requirements. Reference is also made to Note 2.27d). ",
"dimensions": {
"concept": "ifrs-full:DisclosureOfNoncurrentAssetsOrDisposalGroupsClassifiedAsHeldForSaleExplanatory",
"language": "en",
"entity": "scheme:5967007LIEEXZXFOMO31",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"pp-value-53-3": {
"value": "2.25 Discontinued operations \u2013 assets and liabilities held for sale Non-current assets (or disposal groups) are classified as \u2018held for sale\u2019 when the capitalised amount is mainlyrealised through a sales transaction, and a sale is considered highly likely. They are measured at the lower ofcapitalised value and fair value minus sales costs. ",
"dimensions": {
"concept": "ifrs-full:DisclosureOfNoncurrentAssetsHeldForSaleAndDiscontinuedOperationsExplanatory",
"language": "en",
"entity": "scheme:5967007LIEEXZXFOMO31",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"pp-value-54-2": {
"value": "2.26 Changes in accounting policies The accounting principles applied are consistent with the principles used in previous periods.",
"dimensions": {
"concept": "ifrs-full:DisclosureOfChangesInAccountingPoliciesAccountingEstimatesAndErrorsExplanatory",
"language": "en",
"entity": "scheme:5967007LIEEXZXFOMO31",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"pp-value-54-3": {
"value": "2.26 Changes in accounting policies The accounting principles applied are consistent with the principles used in previous periods.",
"dimensions": {
"concept": "ifrs-full:DisclosureOfChangesInAccountingPoliciesExplanatory",
"language": "en",
"entity": "scheme:5967007LIEEXZXFOMO31",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"pp-value-55-2": {
"value": "2.27 Significant accounting estimates and matters associated with uncertainty in estimates Preparing accounts in accordance with applicable standards and practice requires the management to prepareestimates and make assessments that affect recorded assets and liabilities as well as information on contingentassets and latent obligations on the reporting date, including income and expenses for the reported period. Thefinal outcomes may differ from the estimates. Some amounts included in or affecting the accounts andassociated notes require estimates, which in turn mean that the Group has to make assessments with regardto values and matters which are not known at the time of preparing the accounts. A significant \u201caccountingestimate\u201d could be defined as an estimate which is important to giving a true picture of the Group\u2019s financialposition, but is also the result of difficult, subjective and complex assessments made by the management. Suchestimates are often uncertain by nature. The management reviews such estimates on an ongoing basis, basedon both history and experience, but also from consultations with experts, trend analyses, and other methodswhich are considered relevant for each estimate. Estimates and assessments that could have a significanteffect on the accounts are described below. a) Vessels - Economic life/useful life The level of depreciation depends on the estimated economic life of the vessels. The estimate is based onhistory and experience related to the vessels which are included in the Group. The Group\u2019s main strategy is tokeep the vessels until they are scrapped. However, there are ongoing evaluations where the main strategy canbe deviated from when financial conditions dictate. The estimate is reviewed each year. A change in theestimate will affect depreciation in future periods. - Residual value at the end of economic life The level of depreciation depends on the estimated residual value on the balance sheet date. Expected residualvalue is based on the knowledge of scrap values for vessels. The scrap value is dependent on steel prices.The estimate of scrap value is subject to annual review. - Impairment On the balance sheet date, the Group has made an assessment of whether there are indications that vesselsmay need to be impaired. When such indications exist, the recoverable amount for the vessel is estimated, and the value of the vessel iswritten down to the recoverable amount. Refer to Note 12 for more details on the principles, estimates and matters associated with uncertainty in theestimate that have been applied. b) Leases Recognition of leases and income For contracts where the Group acts as a lessor, it classifies each of its leases as either an operating lease ora finance lease. A lease is classified as a finance lease if it transfers substantially all the risks and rewardsincidental to ownership of an underlying asset. A lease is classified as an operating lease if it does not transfersubstantially all the risks and rewards incidental to ownership of an underlying asset. The group as a lessor does not have any finance leases. Operating leases For operating leases, the Group 15ecognized lease payments as other income, mainly on a straight-line basis,unless another systematic basis is more representative of the pattern in which benefit from the use of theunderlying asset is diminished. The Group 15ecognized costs incurred in earning the lease income in otheroperating expenses. The Group adds initial direct costs incurred in obtaining an operating lease to the carryingamount of the underlying asset and 15ecognized those costs as an expense over the lease term on the samebasis as the rental income. c) Long-term receivables Under other non-current receivables, EIOF recorded in 2017 a receivable of MUSD 27.5 (total MNOK 235). The2017 accounts assumed that the receivables from Global Seismic Shipping AS had a value of 45% of par.Consequently, in the accounts as at December 31, 2017, these receivables were written down by 55%. Nochanges have been made to this as at December 31, 2021. If the reason for the impairment lapses at a later time, and the lapse can be tied to an event taking place afterthe impairment is recognised, the previous impairment is reversed. This evaluation has to be made each quarterbased on an overall assessment. Refer to Note 7 for a more detailed description/analysis. As the repaymentsare repaid, the impaired part of the payment will be recorded as income. Any reversal will be recorded as otherfinancial income. d) Climate and Regulatory Risks In preparing the financial statement, the Group, has considered the impact of regulatory changes in particularin the context in climate change risks. The considerations did not impact our judgement and estimates in thecurrent year. Climate risk is also considered in estimates that include the use of future cashflows. The most important key assumptions and sources of uncertainties identified are: \u2022 Usefull life of vessels \u2022 Residual value of vessels \u2022 Cash flow from operations \u2022 Short term and long term investments Eidesvik has been a frontrunner in adopting new technologies that reduces emissions. By the end of 2022 92%of the fleet has hybrid fuel solutions and the company achieved 26.5% year on year reduction in CO2 reductionper day. Refer to Note 12 for more information. ",
"dimensions": {
"concept": "ifrs-full:DisclosureOfAccountingJudgementsAndEstimatesExplanatory",
"language": "en",
"entity": "scheme:5967007LIEEXZXFOMO31",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"pp-value-57-2": {
"value": "NOTE 3 \u2013 FINANCIAL RISK MANAGEMENT Financial risk The Group is exposed to a variety of financial market risk factors through its activities. Financial market risk isthe risk that fluctuations in exchange rates, interest rates and charter rates will affect the value of the Group\u2019sassets, liabilities and future cash flows. The Group\u2019s overall risk management plan focuses on the unpredictability of the capital markets and seeks tominimize the potential adverse effects on the Group\u2019s financial performance. Elements included in themanagement of financial risk are the contract length on charters, use of currency and interest-bearinginstruments, and debt in the same currency as expected payments of charter income. The main focus for themanagement of currency and interest rate risk is to hedge future cash flows. The hedge positions for the cashflows are recorded at fair value with value changes through profit/loss. This exposes the accounts to fluctuationsin the value of the hedging instruments for the cash flow. In Eidesvik Offshore ASA, risk management of therevenues reported in the accounts is subordinate to risk management of the cash flows. The Group does notperform hedge accounting. The Group\u2019s risk management is handled by management according to guidelines from the Board. a) Market risk (i) Currency risk (see also Note 23) The Group operates internationally and is exposed to fluctuations in exchange rates for several currencies.Currency risk arises from future transactions, and relates to booked assets and liabilities. To manage the currency risk from future commercial transactions and booked assets and liabilities, the Groupuses currency derivatives. The Group also, to a certain extent, have loans in the same currency as expectedfuture income. The Group is particularly exposed to fluctuations in USD, as it has considerable charter income but lowoperating costs in this currency. It seeks to reduce fluctuations with loans and currency forward contracts inthe same currency. At December 31, 2022, the Group\u2019s long-term liabilities were divided between 73% NOKand 27% USD. At December 31, 2021 it was 45% NOK and 55% USD. The major change is related to the sale of Viking Neptun in 2022 and the repayment of its USD loan. The Company\u2019s exposure to USD on the balance sheet date is shown in table below, and is significantly reduceddue to the sale of Viking Neptun in 2022. The table below shows estimated change in net profit before tax inmillion NOK if the USD rate against NOK had been 50 \u00f8re higher/lower at December 31, 2022. The table doesnot reflect potential effects on impairment regarding value in use for vessels with income in USD. +50 \u00f8re -50 \u00f8re Operating profit before profit from associates and joint ventures 0,0 0,0 Profit from joint ventures 0,0 0,0 Net financial income excluding agio/disagio on long-term debt 0,0 0,0 Agio/disagio -4,6 4,6 Profit/loss for the year -4,6 4,6 Translation difference, shares 0,0 0,0 Total comprehensive income -4,6 4,6 (ii) Interest rate risk (see also Note 23) The Group\u2019s interest rate risk is related to long-term loans and deposits of surplus liquidity. Loans with floatinginterest rates involve a risk for the Group\u2019s cash flow. Fixed rate loans exposes the Group to fair value interestrate risk. The interest rate risk is managed by use of interest derivatives (swaps and caps) within guidelinesfrom the Board. The effect of a change in interest rates is simulated in order to support decisions on fixed rate contracts. Thesimulation illustrates the cash effect of a change in interest rate based on the size of the loan and the level ofcurrent interest rate hedging. An increase of 1 percentage point in the interest rate, all else being equal, woulddecrease net profit before tax by approximately MNOK 5. (b) Credit risk The Group has a concentration risk as charter contracts are signed with relatively few customers. Eidesvik\u2019scustomers are mainly solid companies with good solvency. The risk of counterparties not having the financialcapacity to fulfil their obligations is considered relatively low. Overdue receivables are followed up monthly.The Group has chosen to apply the practical simplification rule to calculate losses on accounts receivable. Lossprovisions are raised based on historical data, adjusted for forward-looking factors specific to the debtors andthe economic environment. The following table categorises the Group\u2019s receivables according to the risk of non-recovery of outstanding amounts: Accounts receivable 2022 2021 Group 1 138 779 120 800 Group 2 357 8 681 Group 3 2 623 1 462 Total 141 759 101 416 Group 1: Established customer relationship, good solvency/willingness Group 2: New customers, possibly slow recovery Group 3: Established customer relationship, weaker solvency/willingness The Group has significant long-term receivables from a company in the Global Seismic Shipping AS group thatwas sold in January 2020. These receivables are posted in the accounts at a significantly lower value due toprovisions for counterparty risk from the company\u2019s charterer. The recorded value of the receivables wasmeasured for revenue recognition in 2017 at less than the nominal value. This was in accordance withobservable sales of securities issued by the same counterparty. The credit risk on the receivables is consideredto be lower, and indications of changes in the valuation of these are assessed continuously. The impairment ofthe long-term receivables has been reversed to reflect the repayments received. See Notes 5 and 13 for furtherinformation. Maximum risk exposure is represented by the capitalised value of the financial assets, including derivatives,on the balance sheet. As the counterparties in derivatives trading are large well-known banks, the credit riskassociated with derivatives is considered low. (c) Liquidity risk The Group aims to manage the cash flow from operations by focusing on long-term charters with little pricevolatility. Surplus liquidity is mainly placed in ordinary bank deposits. The Group monitors the risk of a lack of available capital through liquidity budgets for subsequent years, aswell as a monthly 24-month liquidity forecasts. Longer term liquidity forecasts are prepared several times peryear. The current liquidity position of the Group is satisfactory for the next 12 months considering the agreedstrefinancing in 1 Quarter 2023. See also Note 20 for information on amortisation profiles/refinancing needs for long-term liabilities. The following table sums up the maturity profile for the Group\u2019s liabilities at December 31, 2022, based oncontractual, non-discounted cash flows. Estimated interest is based on current interest and exchange rates atDecember 31, 2022. Maturity statement for capitalised liabilities, December 31, 2022: 2023 2024 2025 2026 2027 Later Loans* 1 095 934 43 542 0 0 0 0 Accrued interest 5 965 0 0 0 0 0 Derivatives -17 766 -17 766 -8 883 0 0 0 Accounts payable 30 022 0 0 0 0 0 Other current liabilities 177 707 0 0 0 0 0 Subtotal debt items excl. market value derivatives 1 291 862 25 776 -8 883 0 0 0 Estimated interest Interest payments on existing loans 68 027 1 550 0 0 0 0 Adjustment incurred 31.12.2022 -5 965 0 0 0 0 0 Subtotal assumed interest 62 062 1 550 0 0 0 0 Leases Leases (Note 22) 7 687 7 656 7 608 7 608 7 546 34 467 Total contractual commitments falling due 1 361 611 34 981 -1 275 7 608 7 546 34 467 Maturity statement for capitalised liabilities, December 31, 2021: 2022 2023 2024 2025 2026 LaterLoans* 128 364 1 676 479 80 035 36 494 36 494 18 247Accrued interest 7 674 0 0 0 0 0Derivatives 1 445 -4 869 -4 869 -2 435 0 0Accounts payable 48 234 0 0 0 0 0Other current liabilities 140 929 0 0 0 0 0Subtotal debt items excl. market value derivatives 326 644 1 671 610 75 166 34 059 36 494 18 247Estimated interest Interest payments on existing loans 73 274 70 038 5 034 2 323 1 161 749Adjustment incurred 31.12.2021 -7 674 0 0 0 0 0Subtotal assumed interest 65 600 70 038 5 034 2 323 1 161 749Leases Leases (Note 22) 6 476 6 460 6 460 6 460 6 460 38 761Total contractual commitments falling due 398 720 1 748 108 86 660 42 842 44 115 57 757*Liabilities related to Assets held for sale will become due and payable at the time of completion of the sale. Risk management of capital A primary goal for the Group is to secure long-term financing of its assets. On February 22, 2023, Eidesvikannounced that it had agreed on a term sheet (\u201cTerm Sheet\u201d) with its financial institutions for refinancing of itsdebt. With debt maturity in Q1 2026 and aligned amortization payments, the agreed terms significantlystrengthened the Group\u2019s financial position. On March 28, 2023, the final agreements and documentation werein place and the new terms for the Group\u2019s financing became effective. Please see note 20 for furtherinformation. Assessment of fair value IFRS 7 requires financial instruments measured at fair value on the balance sheet date to be presented bylevel, with the following level classification for measuring fair value: 1) Quoted price in an active market for an identical asset or liability (level 1) 2) Valuation based on other observable factors, either directly (price) or indirectly (derived from prices)other than the quoted price (used in level 1) for the asset or liability (level 2) 3) Valuation based on factors not taken from observable markets (non-observable assumptions) (level3) The following balance sheet items represent financial instruments at fair value: Balance sheet item: Level Cash and cash equivalents 1 Derivatives 2 Financial investments 2 Derivatives are recognised on the basis of valuations from the counterparty (mark to market). Debts to credit institutions with floating interest rates are recognised at amortised cost, and are valued atapproximate fair value. Fixed-rate loans (CIRR) are recorded at amortised cost, and the estimated value isdescribed in Note 23. The fair value of fixed-rate loans is calculated by discounting the difference between thefixed rate and the market rate at December 31, 2022, with a duration equal to the term of the loan. Cost is considered equivalent to fair value for the equity investments discussed in Note 21. ",
"dimensions": {
"concept": "ifrs-full:DisclosureOfFinancialRiskManagementExplanatory",
"language": "en",
"entity": "scheme:5967007LIEEXZXFOMO31",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"pp-value-57-3": {
"value": "NOTE 3 \u2013 FINANCIAL RISK MANAGEMENT Financial risk The Group is exposed to a variety of financial market risk factors through its activities. Financial market risk isthe risk that fluctuations in exchange rates, interest rates and charter rates will affect the value of the Group\u2019sassets, liabilities and future cash flows. The Group\u2019s overall risk management plan focuses on the unpredictability of the capital markets and seeks tominimize the potential adverse effects on the Group\u2019s financial performance. Elements included in themanagement of financial risk are the contract length on charters, use of currency and interest-bearinginstruments, and debt in the same currency as expected payments of charter income. The main focus for themanagement of currency and interest rate risk is to hedge future cash flows. The hedge positions for the cashflows are recorded at fair value with value changes through profit/loss. This exposes the accounts to fluctuationsin the value of the hedging instruments for the cash flow. In Eidesvik Offshore ASA, risk management of therevenues reported in the accounts is subordinate to risk management of the cash flows. The Group does notperform hedge accounting. The Group\u2019s risk management is handled by management according to guidelines from the Board. Risk management of capital A primary goal for the Group is to secure long-term financing of its assets. On February 22, 2023, Eidesvikannounced that it had agreed on a term sheet (\u201cTerm Sheet\u201d) with its financial institutions for refinancing of itsdebt. With debt maturity in Q1 2026 and aligned amortization payments, the agreed terms significantlystrengthened the Group\u2019s financial position. On March 28, 2023, the final agreements and documentation werein place and the new terms for the Group\u2019s financing became effective. Please see note 20 for furtherinformation. ",
"dimensions": {
"concept": "ifrs-full:DisclosureOfObjectivesPoliciesAndProcessesForManagingCapitalExplanatory",
"language": "en",
"entity": "scheme:5967007LIEEXZXFOMO31",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"pp-value-58-4": {
"value": "a) Market risk (i) Currency risk (see also Note 23) The Group operates internationally and is exposed to fluctuations in exchange rates for several currencies.Currency risk arises from future transactions, and relates to booked assets and liabilities. To manage the currency risk from future commercial transactions and booked assets and liabilities, the Groupuses currency derivatives. The Group also, to a certain extent, have loans in the same currency as expectedfuture income. The Group is particularly exposed to fluctuations in USD, as it has considerable charter income but lowoperating costs in this currency. It seeks to reduce fluctuations with loans and currency forward contracts inthe same currency. At December 31, 2022, the Group\u2019s long-term liabilities were divided between 73% NOKand 27% USD. At December 31, 2021 it was 45% NOK and 55% USD. The major change is related to the sale of Viking Neptun in 2022 and the repayment of its USD loan. The Company\u2019s exposure to USD on the balance sheet date is shown in table below, and is significantly reduceddue to the sale of Viking Neptun in 2022. The table below shows estimated change in net profit before tax inmillion NOK if the USD rate against NOK had been 50 \u00f8re higher/lower at December 31, 2022. The table doesnot reflect potential effects on impairment regarding value in use for vessels with income in USD. +50 \u00f8re -50 \u00f8re Operating profit before profit from associates and joint ventures 0,0 0,0 Profit from joint ventures 0,0 0,0 Net financial income excluding agio/disagio on long-term debt 0,0 0,0 Agio/disagio -4,6 4,6 Profit/loss for the year -4,6 4,6 Translation difference, shares 0,0 0,0 Total comprehensive income -4,6 4,6 (ii) Interest rate risk (see also Note 23) The Group\u2019s interest rate risk is related to long-term loans and deposits of surplus liquidity. Loans with floatinginterest rates involve a risk for the Group\u2019s cash flow. Fixed rate loans exposes the Group to fair value interestrate risk. The interest rate risk is managed by use of interest derivatives (swaps and caps) within guidelinesfrom the Board. The effect of a change in interest rates is simulated in order to support decisions on fixed rate contracts. Thesimulation illustrates the cash effect of a change in interest rate based on the size of the loan and the level ofcurrent interest rate hedging. An increase of 1 percentage point in the interest rate, all else being equal, woulddecrease net profit before tax by approximately MNOK 5. ",
"dimensions": {
"concept": "ifrs-full:DisclosureOfMarketRiskExplanatory",
"language": "en",
"entity": "scheme:5967007LIEEXZXFOMO31",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"pp-value-60-4": {
"value": "(b) Credit risk The Group has a concentration risk as charter contracts are signed with relatively few customers. Eidesvik\u2019scustomers are mainly solid companies with good solvency. The risk of counterparties not having the financialcapacity to fulfil their obligations is considered relatively low. Overdue receivables are followed up monthly.The Group has chosen to apply the practical simplification rule to calculate losses on accounts receivable. Lossprovisions are raised based on historical data, adjusted for forward-looking factors specific to the debtors andthe economic environment. The following table categorises the Group\u2019s receivables according to the risk of non-recovery of outstanding amounts: Accounts receivable 2022 2021 Group 1 138 779 120 800 Group 2 357 8 681 Group 3 2 623 1 462 Total 141 759 101 416 Group 1: Established customer relationship, good solvency/willingness Group 2: New customers, possibly slow recovery Group 3: Established customer relationship, weaker solvency/willingness The Group has significant long-term receivables from a company in the Global Seismic Shipping AS group thatwas sold in January 2020. These receivables are posted in the accounts at a significantly lower value due toprovisions for counterparty risk from the company\u2019s charterer. The recorded value of the receivables wasmeasured for revenue recognition in 2017 at less than the nominal value. This was in accordance withobservable sales of securities issued by the same counterparty. The credit risk on the receivables is consideredto be lower, and indications of changes in the valuation of these are assessed continuously. The impairment ofthe long-term receivables has been reversed to reflect the repayments received. See Notes 5 and 13 for furtherinformation. Maximum risk exposure is represented by the capitalised value of the financial assets, including derivatives,on the balance sheet. As the counterparties in derivatives trading are large well-known banks, the credit riskassociated with derivatives is considered low. ",
"dimensions": {
"concept": "ifrs-full:DisclosureOfCreditRiskExplanatory",
"language": "en",
"entity": "scheme:5967007LIEEXZXFOMO31",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"pp-value-61-3": {
"value": "(c) Liquidity risk The Group aims to manage the cash flow from operations by focusing on long-term charters with little pricevolatility. Surplus liquidity is mainly placed in ordinary bank deposits. The Group monitors the risk of a lack of available capital through liquidity budgets for subsequent years, aswell as a monthly 24-month liquidity forecasts. Longer term liquidity forecasts are prepared several times peryear. The current liquidity position of the Group is satisfactory for the next 12 months considering the agreedstrefinancing in 1 Quarter 2023. See also Note 20 for information on amortisation profiles/refinancing needs for long-term liabilities. The following table sums up the maturity profile for the Group\u2019s liabilities at December 31, 2022, based oncontractual, non-discounted cash flows. Estimated interest is based on current interest and exchange rates atDecember 31, 2022. Maturity statement for capitalised liabilities, December 31, 2022: 2023 2024 2025 2026 2027 Later Loans* 1 095 934 43 542 0 0 0 0 Accrued interest 5 965 0 0 0 0 0 Derivatives -17 766 -17 766 -8 883 0 0 0 Accounts payable 30 022 0 0 0 0 0 Other current liabilities 177 707 0 0 0 0 0 Subtotal debt items excl. market value derivatives 1 291 862 25 776 -8 883 0 0 0 Estimated interest Interest payments on existing loans 68 027 1 550 0 0 0 0 Adjustment incurred 31.12.2022 -5 965 0 0 0 0 0 Subtotal assumed interest 62 062 1 550 0 0 0 0 Leases Leases (Note 22) 7 687 7 656 7 608 7 608 7 546 34 467 Total contractual commitments falling due 1 361 611 34 981 -1 275 7 608 7 546 34 467 Maturity statement for capitalised liabilities, December 31, 2021: 2022 2023 2024 2025 2026 LaterLoans* 128 364 1 676 479 80 035 36 494 36 494 18 247Accrued interest 7 674 0 0 0 0 0Derivatives 1 445 -4 869 -4 869 -2 435 0 0Accounts payable 48 234 0 0 0 0 0Other current liabilities 140 929 0 0 0 0 0Subtotal debt items excl. market value derivatives 326 644 1 671 610 75 166 34 059 36 494 18 247Estimated interest Interest payments on existing loans 73 274 70 038 5 034 2 323 1 161 749Adjustment incurred 31.12.2021 -7 674 0 0 0 0 0Subtotal assumed interest 65 600 70 038 5 034 2 323 1 161 749Leases Leases (Note 22) 6 476 6 460 6 460 6 460 6 460 38 761Total contractual commitments falling due 398 720 1 748 108 86 660 42 842 44 115 57 757*Liabilities related to Assets held for sale will become due and payable at the time of completion of the sale. ",
"dimensions": {
"concept": "ifrs-full:DisclosureOfLiquidityRiskExplanatory",
"language": "en",
"entity": "scheme:5967007LIEEXZXFOMO31",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"pp-value-65-3": {
"value": "Assessment of fair value IFRS 7 requires financial instruments measured at fair value on the balance sheet date to be presented bylevel, with the following level classification for measuring fair value: 1) Quoted price in an active market for an identical asset or liability (level 1) 2) Valuation based on other observable factors, either directly (price) or indirectly (derived from prices)other than the quoted price (used in level 1) for the asset or liability (level 2) 3) Valuation based on factors not taken from observable markets (non-observable assumptions) (level3) The following balance sheet items represent financial instruments at fair value: Balance sheet item: Level Cash and cash equivalents 1 Derivatives 2 Financial investments 2 Derivatives are recognised on the basis of valuations from the counterparty (mark to market). Debts to credit institutions with floating interest rates are recognised at amortised cost, and are valued atapproximate fair value. Fixed-rate loans (CIRR) are recorded at amortised cost, and the estimated value isdescribed in Note 23. The fair value of fixed-rate loans is calculated by discounting the difference between thefixed rate and the market rate at December 31, 2022, with a duration equal to the term of the loan. Cost is considered equivalent to fair value for the equity investments discussed in Note 21. ",
"dimensions": {
"concept": "ifrs-full:DisclosureOfFairValueMeasurementExplanatory",
"language": "en",
"entity": "scheme:5967007LIEEXZXFOMO31",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"pp-value-64-5": {
"value": "NOTE 4 \u2013 SEGMENT INFORMATION The Group\u2019s activities are divided into strategic operating segments according to the nature of the vessels\u2019activities. The various operating segments offer different shipping services, address partially different customergroups, and have different risk profiles. The Group is divided into the following operating segments: a. Seismic b. Subsea/Offshore Wind c. Supply d. Other The Seismic segment delivers shipping services to customers who produce seismic data. At the end of 2022,all seismic vessels were in layup and held for sale. Refer to note 12 for further information of the seismic fleet.The Subsea/Offshore Wind segment delivers shipping services for subsea work for the oil industry. The vesselsare specially adapted to tasks such as subsea inspection, maintenance, repairs and construction. Several ofthe Company\u2019s subsea vessels meet the requirements in the Offshore Wind market, and one vessel is currentlychartered in this market. The Supply segment delivers services to the offshore oil industry. The vessels deliver supplies to rigs, andfunction as part of the rig\u2019s emergency preparedness. Transactions between segments are eliminated. These are mainly administration costs that are charged to eachsegment. Long-term financial items in the Group are not allocated, as the Group\u2019s liabilities are mainly included in fleetfacilities. Short-term liabilities are allocated to the segments where possible. Items that do not belong to any of the segments is recorded under \u201cOther\u201d. Segment performance is assessed on the basis of operating profit, and is consistently measured against operating profit in the consolidated financial accounts. The effect of applying IFRS 15 to the Group\u2019s revenues from contracts with customers is described in Note 2. Operating segments (NOK thousands) Seismic Subsea / Offshore Supply Other Consolidated Wind Operating segments 2022 2021 2022 2021 2022 2021 2022 2021 2022 2021Segment result Operating income (IFRS 15) 0 0 128 123 130 600 200 642 179 129 24 083 20 882 352 849 330 611Bareboat income (IFRS 16) 28 206 21 515 164 554 156 020 103 215 77 710 0 0 295 975 255 245Operating income from JV * (IFRS 15) 0 0 38 250 35 861 0 0 0 0 38 250 35 861Bareboat income from JV * (IFRS 16) 0 0 15 645 16 197 0 0 0 0 15 645 16 197Gain on sale 0 0 269 723 0 0 1 942 0 0 269 723 1 942Total operating income 28 206 21 515 616 296 338 677 303 857 258 781 24 083 20 882 972 442 639 855Operating expenses 18 975 13 798 141 448 158 172 210 783 191 748 53 128 45 368 424 334 409 086Operating expenses share from JV * 0 0 37 783 34 604 0 0 0 0 37 783 34 604Total operating expenses 18 975 13 798 179 231 192 776 210 783 191 748 53 128 45 368 462 117 443 689Depreciation 14 026 36 135 38 916 86 281 84 192 80 009 5 773 5 536 142 907 207 961Depreciations share from JV * 0 0 18 925 18 673 0 0 0 0 18 925 18 673Impairment on assets 16 053 48 599 -36 564 -192 396 -188 726 0 0 0 -209 237 -143 797Impairment on assets share from JV * 0 0 0 0 0 0 0 0 0 0Total depreciation 30 079 84 734 21 277 -87 442 -104 534 80 009 5 773 5 536 -47 405 82 837Operating profit incl. share of the JVs * -20 848 -77 017 415 788 233 344 197 608 -12 976 -34 818 -30 022 557 730 113 329Net finance items and tax in JV* 0 0 -6 831 -5 571 0 0 0 0 -6 831 -5 571Impairment JV ** 0 0 0 0 0 0 0 0 0 0Share of profit from associated companies 0 0 0 0 0 0 523 874 523 874Operating profit -20 848 -77 017 408 958 227 773 197 608 -12 976 -34 295 -29 148 551 423 108 633Net financial items -144 639 -77 912Tax costs -49 17Profit/loss for the year 406 736 30 737In 2022, the Seismic segment had an impairment of MNOK 16, the Subsea/Offshore Wind segment had a reversal of previous impairment of MNOK 36.6, and the Supply segment had a reversal of previous impairment of MNOK 188.7. In 2021, the Seismic segment had an impairment of MNOK 48.6, and the Subsea/ Offshore Wind segment had a reversal of previous impairment of MNOK -192.4 *) For shares in joint ventures, the figures in the table are included with the share corresponding to the Group\u2019s ownership interest. In this note gross values are used in the result, and equity method are used for shares in joint ventures. No changes in other principles. Refer to Note 7. (NOK thousands) Subsea / Offshore Seismic Wind Supply Other Consolidated Operating segments 2022 2021 2022 2021 2022 2021 2022 2021 2022 2021Segment assets 14 686 53 128 363 751 303 408 856 357 696 649 230 010 197 013 1 464 804 1 250 198Proportion of assets in JV* 0 0 279 687 296 000 0 0 0 0 279 687 296 000Unallocated assets (cash) 0 0 0 0 0 0 0 0 655 653 330 401Assets held for sale 80 695 63 217 0 959 242 0 0 0 0 80 695 1 022 459Total consolidated assets 95 381 116 346 363 751 303 408 856 357 696 649 220 010 197 013 2 201 153 2 603 058Assets incl. share of JV* 1 558 95 381 116 346 643 438 650 856 357 696 649 220 010 197 013 2 480 839 2 899 058Segment current liabilities (excl. mortgage debt) -2 267 -526 -18 357 -23 170 -14 509 -31 244 -182 779 -151 828 -217 911 -206 769Proportion of debts from JV* 0 0 -141 805 -148 475 0 0 0 0 -141 805 -148 475Segment mortgage debt and other -1 080 -1 182long-term liabilities -291 845 -292 646 -201 219 -991 590 -644 941 -686 278 57 294 788 463 711051Total liabilities incl. share of JV* -1 163 -1 440 -1 537-294 112 -293 172 -361 380 235 -659 449 -717 522 -125 485 636 634 427294Investments in non-current assets (excl. periodic maintenance) 1 416 0 29 235 8 261 14 615 43 360 0 0 45 266 51 621Gross sales of non-current assets 0 0 944 093 0 0 21 808 0 0 944 093 21 808*) For shares in joint ventures, the amounts in the table are included in proportions equal to the Group\u2019s ownership interest. The sale of Viking Neptun in November 2023 significantly reduced the debt in the Subsea/Offshore Wind segment. Information on large customers The majority of the Group\u2019s income is earned from a small number of large customers. The table below shows the total operating income from all customers representing more than 10% of the Group\u2019s operating income. The amounts are distributed by segments. Operating segments Seismic Subsea / Offshore Wind Supply 2022 2021 2022 2021 2022 2021 Customer 1 89 764 86 824 Customer 2 193 333 133 334 Customer 3 67 090 Customer 4 71 341 93 415 Customer 5 207 181 164 131 Total operating income large customers 0 0 296 945 318 045 264 674 226 748 Secondary segments are not reported. The Seismic, Subsea/Offshore Wind and Supply business segments are the only groups reported internally. Although the vessels in the Seismic and Subsea/Offshore Wind segments operate in various parts of the world, this is mainly a consequence of the customer\u2019s preferred areas of operation, not necessarily a decision on a geographical focus area. Presenting geographical areas for these segments is considered misleading. For the Supply segment, all operations in 2021 and 2022 are in just one geographical area defined as Europe. Secondary segmentations is therefore omitted. Refer to Note 22 for maturity for future lease income. ",
"dimensions": {
"concept": "ifrs-full:DisclosureOfProfitLossFromOperatingActivitiesExplanatory",
"language": "en",
"entity": "scheme:5967007LIEEXZXFOMO31",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"pp-value-64-6": {
"value": "NOTE 4 \u2013 SEGMENT INFORMATION The Group\u2019s activities are divided into strategic operating segments according to the nature of the vessels\u2019activities. The various operating segments offer different shipping services, address partially different customergroups, and have different risk profiles. The Group is divided into the following operating segments: a. Seismic b. Subsea/Offshore Wind c. Supply d. Other The Seismic segment delivers shipping services to customers who produce seismic data. At the end of 2022,all seismic vessels were in layup and held for sale. Refer to note 12 for further information of the seismic fleet.The Subsea/Offshore Wind segment delivers shipping services for subsea work for the oil industry. The vesselsare specially adapted to tasks such as subsea inspection, maintenance, repairs and construction. Several ofthe Company\u2019s subsea vessels meet the requirements in the Offshore Wind market, and one vessel is currentlychartered in this market. The Supply segment delivers services to the offshore oil industry. The vessels deliver supplies to rigs, andfunction as part of the rig\u2019s emergency preparedness. Transactions between segments are eliminated. These are mainly administration costs that are charged to eachsegment. Long-term financial items in the Group are not allocated, as the Group\u2019s liabilities are mainly included in fleetfacilities. Short-term liabilities are allocated to the segments where possible. Items that do not belong to any of the segments is recorded under \u201cOther\u201d. Segment performance is assessed on the basis of operating profit, and is consistently measured against operating profit in the consolidated financial accounts. The effect of applying IFRS 15 to the Group\u2019s revenues from contracts with customers is described in Note 2. Operating segments (NOK thousands) Seismic Subsea / Offshore Supply Other Consolidated Wind Operating segments 2022 2021 2022 2021 2022 2021 2022 2021 2022 2021Segment result Operating income (IFRS 15) 0 0 128 123 130 600 200 642 179 129 24 083 20 882 352 849 330 611Bareboat income (IFRS 16) 28 206 21 515 164 554 156 020 103 215 77 710 0 0 295 975 255 245Operating income from JV * (IFRS 15) 0 0 38 250 35 861 0 0 0 0 38 250 35 861Bareboat income from JV * (IFRS 16) 0 0 15 645 16 197 0 0 0 0 15 645 16 197Gain on sale 0 0 269 723 0 0 1 942 0 0 269 723 1 942Total operating income 28 206 21 515 616 296 338 677 303 857 258 781 24 083 20 882 972 442 639 855Operating expenses 18 975 13 798 141 448 158 172 210 783 191 748 53 128 45 368 424 334 409 086Operating expenses share from JV * 0 0 37 783 34 604 0 0 0 0 37 783 34 604Total operating expenses 18 975 13 798 179 231 192 776 210 783 191 748 53 128 45 368 462 117 443 689Depreciation 14 026 36 135 38 916 86 281 84 192 80 009 5 773 5 536 142 907 207 961Depreciations share from JV * 0 0 18 925 18 673 0 0 0 0 18 925 18 673Impairment on assets 16 053 48 599 -36 564 -192 396 -188 726 0 0 0 -209 237 -143 797Impairment on assets share from JV * 0 0 0 0 0 0 0 0 0 0Total depreciation 30 079 84 734 21 277 -87 442 -104 534 80 009 5 773 5 536 -47 405 82 837Operating profit incl. share of the JVs * -20 848 -77 017 415 788 233 344 197 608 -12 976 -34 818 -30 022 557 730 113 329Net finance items and tax in JV* 0 0 -6 831 -5 571 0 0 0 0 -6 831 -5 571Impairment JV ** 0 0 0 0 0 0 0 0 0 0Share of profit from associated companies 0 0 0 0 0 0 523 874 523 874Operating profit -20 848 -77 017 408 958 227 773 197 608 -12 976 -34 295 -29 148 551 423 108 633Net financial items -144 639 -77 912Tax costs -49 17Profit/loss for the year 406 736 30 737In 2022, the Seismic segment had an impairment of MNOK 16, the Subsea/Offshore Wind segment had a reversal of previous impairment of MNOK 36.6, and the Supply segment had a reversal of previous impairment of MNOK 188.7. In 2021, the Seismic segment had an impairment of MNOK 48.6, and the Subsea/ Offshore Wind segment had a reversal of previous impairment of MNOK -192.4 *) For shares in joint ventures, the figures in the table are included with the share corresponding to the Group\u2019s ownership interest. In this note gross values are used in the result, and equity method are used for shares in joint ventures. No changes in other principles. Refer to Note 7. (NOK thousands) Subsea / Offshore Seismic Wind Supply Other Consolidated Operating segments 2022 2021 2022 2021 2022 2021 2022 2021 2022 2021Segment assets 14 686 53 128 363 751 303 408 856 357 696 649 230 010 197 013 1 464 804 1 250 198Proportion of assets in JV* 0 0 279 687 296 000 0 0 0 0 279 687 296 000Unallocated assets (cash) 0 0 0 0 0 0 0 0 655 653 330 401Assets held for sale 80 695 63 217 0 959 242 0 0 0 0 80 695 1 022 459Total consolidated assets 95 381 116 346 363 751 303 408 856 357 696 649 220 010 197 013 2 201 153 2 603 058Assets incl. share of JV* 1 558 95 381 116 346 643 438 650 856 357 696 649 220 010 197 013 2 480 839 2 899 058Segment current liabilities (excl. mortgage debt) -2 267 -526 -18 357 -23 170 -14 509 -31 244 -182 779 -151 828 -217 911 -206 769Proportion of debts from JV* 0 0 -141 805 -148 475 0 0 0 0 -141 805 -148 475Segment mortgage debt and other -1 080 -1 182long-term liabilities -291 845 -292 646 -201 219 -991 590 -644 941 -686 278 57 294 788 463 711051Total liabilities incl. share of JV* -1 163 -1 440 -1 537-294 112 -293 172 -361 380 235 -659 449 -717 522 -125 485 636 634 427294Investments in non-current assets (excl. periodic maintenance) 1 416 0 29 235 8 261 14 615 43 360 0 0 45 266 51 621Gross sales of non-current assets 0 0 944 093 0 0 21 808 0 0 944 093 21 808*) For shares in joint ventures, the amounts in the table are included in proportions equal to the Group\u2019s ownership interest. The sale of Viking Neptun in November 2023 significantly reduced the debt in the Subsea/Offshore Wind segment. Information on large customers The majority of the Group\u2019s income is earned from a small number of large customers. The table below shows the total operating income from all customers representing more than 10% of the Group\u2019s operating income. The amounts are distributed by segments. Operating segments Seismic Subsea / Offshore Wind Supply 2022 2021 2022 2021 2022 2021 Customer 1 89 764 86 824 Customer 2 193 333 133 334 Customer 3 67 090 Customer 4 71 341 93 415 Customer 5 207 181 164 131 Total operating income large customers 0 0 296 945 318 045 264 674 226 748 Secondary segments are not reported. The Seismic, Subsea/Offshore Wind and Supply business segments are the only groups reported internally. Although the vessels in the Seismic and Subsea/Offshore Wind segments operate in various parts of the world, this is mainly a consequence of the customer\u2019s preferred areas of operation, not necessarily a decision on a geographical focus area. Presenting geographical areas for these segments is considered misleading. For the Supply segment, all operations in 2021 and 2022 are in just one geographical area defined as Europe. Secondary segmentations is therefore omitted. Refer to Note 22 for maturity for future lease income. ",
"dimensions": {
"concept": "ifrs-full:DisclosureOfRevenueFromContractsWithCustomersExplanatory",
"language": "en",
"entity": "scheme:5967007LIEEXZXFOMO31",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"pp-value-64-7": {
"value": "NOTE 4 \u2013 SEGMENT INFORMATION The Group\u2019s activities are divided into strategic operating segments according to the nature of the vessels\u2019activities. The various operating segments offer different shipping services, address partially different customergroups, and have different risk profiles. The Group is divided into the following operating segments: a. Seismic b. Subsea/Offshore Wind c. Supply d. Other The Seismic segment delivers shipping services to customers who produce seismic data. At the end of 2022,all seismic vessels were in layup and held for sale. Refer to note 12 for further information of the seismic fleet.The Subsea/Offshore Wind segment delivers shipping services for subsea work for the oil industry. The vesselsare specially adapted to tasks such as subsea inspection, maintenance, repairs and construction. Several ofthe Company\u2019s subsea vessels meet the requirements in the Offshore Wind market, and one vessel is currentlychartered in this market. The Supply segment delivers services to the offshore oil industry. The vessels deliver supplies to rigs, andfunction as part of the rig\u2019s emergency preparedness. Transactions between segments are eliminated. These are mainly administration costs that are charged to eachsegment. Long-term financial items in the Group are not allocated, as the Group\u2019s liabilities are mainly included in fleetfacilities. Short-term liabilities are allocated to the segments where possible. Items that do not belong to any of the segments is recorded under \u201cOther\u201d. Segment performance is assessed on the basis of operating profit, and is consistently measured against operating profit in the consolidated financial accounts. The effect of applying IFRS 15 to the Group\u2019s revenues from contracts with customers is described in Note 2. Operating segments (NOK thousands) Seismic Subsea / Offshore Supply Other Consolidated Wind Operating segments 2022 2021 2022 2021 2022 2021 2022 2021 2022 2021Segment result Operating income (IFRS 15) 0 0 128 123 130 600 200 642 179 129 24 083 20 882 352 849 330 611Bareboat income (IFRS 16) 28 206 21 515 164 554 156 020 103 215 77 710 0 0 295 975 255 245Operating income from JV * (IFRS 15) 0 0 38 250 35 861 0 0 0 0 38 250 35 861Bareboat income from JV * (IFRS 16) 0 0 15 645 16 197 0 0 0 0 15 645 16 197Gain on sale 0 0 269 723 0 0 1 942 0 0 269 723 1 942Total operating income 28 206 21 515 616 296 338 677 303 857 258 781 24 083 20 882 972 442 639 855Operating expenses 18 975 13 798 141 448 158 172 210 783 191 748 53 128 45 368 424 334 409 086Operating expenses share from JV * 0 0 37 783 34 604 0 0 0 0 37 783 34 604Total operating expenses 18 975 13 798 179 231 192 776 210 783 191 748 53 128 45 368 462 117 443 689Depreciation 14 026 36 135 38 916 86 281 84 192 80 009 5 773 5 536 142 907 207 961Depreciations share from JV * 0 0 18 925 18 673 0 0 0 0 18 925 18 673Impairment on assets 16 053 48 599 -36 564 -192 396 -188 726 0 0 0 -209 237 -143 797Impairment on assets share from JV * 0 0 0 0 0 0 0 0 0 0Total depreciation 30 079 84 734 21 277 -87 442 -104 534 80 009 5 773 5 536 -47 405 82 837Operating profit incl. share of the JVs * -20 848 -77 017 415 788 233 344 197 608 -12 976 -34 818 -30 022 557 730 113 329Net finance items and tax in JV* 0 0 -6 831 -5 571 0 0 0 0 -6 831 -5 571Impairment JV ** 0 0 0 0 0 0 0 0 0 0Share of profit from associated companies 0 0 0 0 0 0 523 874 523 874Operating profit -20 848 -77 017 408 958 227 773 197 608 -12 976 -34 295 -29 148 551 423 108 633Net financial items -144 639 -77 912Tax costs -49 17Profit/loss for the year 406 736 30 737In 2022, the Seismic segment had an impairment of MNOK 16, the Subsea/Offshore Wind segment had a reversal of previous impairment of MNOK 36.6, and the Supply segment had a reversal of previous impairment of MNOK 188.7. In 2021, the Seismic segment had an impairment of MNOK 48.6, and the Subsea/ Offshore Wind segment had a reversal of previous impairment of MNOK -192.4 *) For shares in joint ventures, the figures in the table are included with the share corresponding to the Group\u2019s ownership interest. In this note gross values are used in the result, and equity method are used for shares in joint ventures. No changes in other principles. Refer to Note 7. (NOK thousands) Subsea / Offshore Seismic Wind Supply Other Consolidated Operating segments 2022 2021 2022 2021 2022 2021 2022 2021 2022 2021Segment assets 14 686 53 128 363 751 303 408 856 357 696 649 230 010 197 013 1 464 804 1 250 198Proportion of assets in JV* 0 0 279 687 296 000 0 0 0 0 279 687 296 000Unallocated assets (cash) 0 0 0 0 0 0 0 0 655 653 330 401Assets held for sale 80 695 63 217 0 959 242 0 0 0 0 80 695 1 022 459Total consolidated assets 95 381 116 346 363 751 303 408 856 357 696 649 220 010 197 013 2 201 153 2 603 058Assets incl. share of JV* 1 558 95 381 116 346 643 438 650 856 357 696 649 220 010 197 013 2 480 839 2 899 058Segment current liabilities (excl. mortgage debt) -2 267 -526 -18 357 -23 170 -14 509 -31 244 -182 779 -151 828 -217 911 -206 769Proportion of debts from JV* 0 0 -141 805 -148 475 0 0 0 0 -141 805 -148 475Segment mortgage debt and other -1 080 -1 182long-term liabilities -291 845 -292 646 -201 219 -991 590 -644 941 -686 278 57 294 788 463 711051Total liabilities incl. share of JV* -1 163 -1 440 -1 537-294 112 -293 172 -361 380 235 -659 449 -717 522 -125 485 636 634 427294Investments in non-current assets (excl. periodic maintenance) 1 416 0 29 235 8 261 14 615 43 360 0 0 45 266 51 621Gross sales of non-current assets 0 0 944 093 0 0 21 808 0 0 944 093 21 808*) For shares in joint ventures, the amounts in the table are included in proportions equal to the Group\u2019s ownership interest. The sale of Viking Neptun in November 2023 significantly reduced the debt in the Subsea/Offshore Wind segment. Information on large customers The majority of the Group\u2019s income is earned from a small number of large customers. The table below shows the total operating income from all customers representing more than 10% of the Group\u2019s operating income. The amounts are distributed by segments. Operating segments Seismic Subsea / Offshore Wind Supply 2022 2021 2022 2021 2022 2021 Customer 1 89 764 86 824 Customer 2 193 333 133 334 Customer 3 67 090 Customer 4 71 341 93 415 Customer 5 207 181 164 131 Total operating income large customers 0 0 296 945 318 045 264 674 226 748 Secondary segments are not reported. The Seismic, Subsea/Offshore Wind and Supply business segments are the only groups reported internally. Although the vessels in the Seismic and Subsea/Offshore Wind segments operate in various parts of the world, this is mainly a consequence of the customer\u2019s preferred areas of operation, not necessarily a decision on a geographical focus area. Presenting geographical areas for these segments is considered misleading. For the Supply segment, all operations in 2021 and 2022 are in just one geographical area defined as Europe. Secondary segmentations is therefore omitted. Refer to Note 22 for maturity for future lease income. NOTE 5 \u2013 OTHER INCOME (NOK thousands) 2022 2021 Dividend from \u00abDen Norske Krigsforsikring \u00ab 0 4 025 Reversal of previous write-downs related to receivables 14 102 12 350 from JVs Gain/loss on the sale of vessels 269 723 1 942 Other income 283 826 18 317 Other income of MNOK 283.8 (18.3) is related to the reversal of previous impairments on repayments receivedagainst the claim against Oceanic Seismic Vessels AS MNOK 14.1; see note 13. MNOK 269.7 is associatedwith the sale of Viking Neptun in November 2022. ",
"dimensions": {
"concept": "ifrs-full:DisclosureOfTradingIncomeExpenseExplanatory",
"language": "en",
"entity": "scheme:5967007LIEEXZXFOMO31",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"pp-value-70-3": {
"value": "NOTE 6 \u2013 OTHER OPERATING EXPENSES (NOK thousands) 2022 2021 Technical operation of vessels 89 742 82 940 Insurance 13 774 13 107 Communication costs 6 726 5 734 Administrative costs 11 668 34 233 Other operating expenses 121 910 136 014 Technical operation of vessels includes ongoing operating costs and maintenance of the Group\u2019s vessels;classification costs are capitalised and depreciated until the next classification and so do not appear as aseparate operating cost. Administration costs consist mainly of travel, consultancy, legal, audit, leasing and other office costs. ",
"dimensions": {
"concept": "ifrs-full:DisclosureOfOtherOperatingExpenseExplanatory",
"language": "en",
"entity": "scheme:5967007LIEEXZXFOMO31",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"pp-value-70-4": {
"value": "NOTE 6 \u2013 OTHER OPERATING EXPENSES (NOK thousands) 2022 2021 Technical operation of vessels 89 742 82 940 Insurance 13 774 13 107 Communication costs 6 726 5 734 Administrative costs 11 668 34 233 Other operating expenses 121 910 136 014 Technical operation of vessels includes ongoing operating costs and maintenance of the Group\u2019s vessels;classification costs are capitalised and depreciated until the next classification and so do not appear as aseparate operating cost. Administration costs consist mainly of travel, consultancy, legal, audit, leasing and other office costs. NOTE 12 \u2013 TANGIBLE FIXED ASSETS 2022: Total Operating other Periodic Port equipmenfixed maintenaTotal New build (NOK thousands) Property facilities t assets Vessels nce vessels contracts Total (*)Acquisition cost 1 January 2022 37 414 3 594 42 559 83 567 5 890 541 359 633 6 250 174 0 6 333 741Addition 0 0 372 372 45 266 56 183 101 448 0 101 821Disposal 0 0 -2 700 -2 700 -1 288 357 -61 268 -1 349 625 0 -1 352 32531 December 2022 37 414 3 594 40 231 81 239 4 647 450 354 548 5 001 998 0 5 083 236Accumulated depreciation and impairments 1 January 2022 19 624 3 494 39 926 63 044 4 034 132 285 076 4 319 208 0 4 382 251Depreciation in the year 180 0 93 273 87 156 49 978 137 134 0 137 407Impairment for the year 0 0 0 0 16 053 0 16 053 0 16 053Reversal of previous 0 0 0 0 -225 290 0 -225 290 0 -225 290impairment for the year Disposals 0 0 -625 -625 -344 232 -44 350 -388 582 0 -389 20831 December 2022 19 804 3 494 39 393 62 692 3 567 818 290 704 3 858 522 0 3 921 214Book value 17 610 100 837 18 547 1 079 632 63 844 1 143 475 0 1 162 0232021: Total other Periodic Port Operating fixed maintenanTotal New build (NOK thousands) Property facilities equipment assets Vessels ce vessels contracts Total (*)Acquisition cost 1 January 2021 37 414 3 717 42 529 83 660 5 989 257 352 385 6 341 641 0 6 425 301Addition 0 0 31 31 51 621 36 899 88 521 0 88 551Disposal 0 -123 0 -123 -150 336 -29 651 -179 988 0 -180 11131 December 2021 37 414 3 594 42 559 83 567 5 890 541 359 633 6 250 174 0 6 333 741Accumulated depreciation and impairments 1 January 2021 19 443 3 494 39 277 62 215 4 170 167 248 592 4 418 759 0 4 480 974Depreciation in the year 180 0 648 829 140 026 62 399 202 425 0 203 254Impairment for the year 0 0 0 0 76 894 0 76 894 0 76 894Reversal of previous impairment for the year -220 6910 0 0 0 -220 691 0 -220 691 0 Disposals 0 0 0 0 -132 265 -25 915 -158 180 0 -158 18031 December 2021 19 624 3 494 39 926 63 044 4 034 132 285 076 4 319 208 0 4 382 251Book value 17 790 100 2 633 20 523 1 856 410 74 557 1 930 965 0 1 951 490(*) right-of-use assets TNOK 55 489 and depreciation TNOK 5 563 is not included in the table above. Refer to note 22 IFRS 16, Lease. Please refer to Note 20 for information on mortgaged assets. Refer to Note 2, point 2.5, for details of depreciation periods for vessels and lumping together of components. The Company has in November 2022 sold the Subsea/Wind vessel Viking Neptun, the sale generated a gain of MNOK 269.7. The PSV Viking Athene was sold in April 2021, and sale generated a gain of MNOK 1.9. All four seismic vessels are classified as held-for-sale. In determining whether the decisions of sale of the vessels are assessed as discontinued operations or asset held for sale, the Group have concluded that the seismic operations is not a major line of business. The assessment made is based on the fact that the seismic operation\u2019s representative share of the Group\u2019s total revenue is not viewed as significant (4% for 2022). Consistently discontinued operations is not applicable, and the vessels are classified as asset held for sale in accordance with IFRS 5. All four seismic vessels are classified as held-for-sale and are included in the table above. Refer to note 20 for Liabilities related to Assets held for sale. Property/port facilities include plots/land valued at MNOK 17.7 (MNOK 17.9) which are not depreciated. Impairment tests are performed on individual cash generating entities (vessels) when indications of impairment or reversal of previous impairments are identified. Due to observed indicators, such as improved market conditions and increase in market interest rates, the vessels\u2019 book values have been tested for impairment and reversal of previous impairments at all quarter end during 2022. Based on these tests, Eidesvik recognized a net reversal of impairment of MNOK 209.2 during 2022. Of this, MNOK 36.6 was related to reversal of impairment of one subsea/offshore wind vessel, and MNOK 188.6 is related to reversal of impairments of five PSVs. In addition, one seismic vessel was impaired with MNOK 16.0. The Group monitors the presence of impairment indicators during the periodical financial reporting, and thus may update its assessments of impairments to reflect further changes in the underlying market assumptions. Broker estimates are not used as an approximate sales value on the balance sheet date as there are few observed sales of the type of vessels the Company owns. For the assessment of value in use, expected future cash flows are used, discounted to net present value using a discount rate before taxes reflecting the market-based time value of money, as well as risk specific to the asset. The discount rate is derived from a weighted average cost of capital (WACC) for market players. The average WACC used in the calculations per December 31, 2022, is 9.2%. This takes into account that the Group\u2019s business is mainly within the tonnage tax system, and the calculated WACC is assumed to apply both before and after tax. The capital structure used in the weighted average cost of capital is based on an assumed capital structure in comparable companies with similar assets in a normal situation. Equity cost is based on the expected required rate of return for the Group\u2019s investors. Debt costs are based on the risk-free interest rate, plus a premium equivalent to the difference between risk-free rate and market rates. The beta factors are evaluated quarterly when deemed necessary, and otherwise at least annually, on the basis of publicly availablemarket data for identified comparable companies and the main index on the Oslo Stock Exchange. Future cash flows are estimated on the basis of estimated remaining useful life, which may exceed 5 years.The cash flows used in the impairment tests for 2022 are based on and reconciled against the financial forecastswhich the Group uses for internal planning purposes as well as present to its lenders. Important elements inestimated cash flows are the long-term inflation rate, the contract situation (order backlog), the utilization rate,ordinary operating expenses, periodic maintenance (docking), charter rates, and exchange rates. In 2022, the Seismic segment had an impairment charge of MNOK 16.0 (recoverable amount MNOK 106.7), theSubsea/Offshore Wind segment had a reversal impairment of MNOK 36.6 (MNOK 443.4), and the Supplysegment had a reversal of MNOK 188.6 (MNOK 989.0). In 2021, net reversal of previous impairments of MNOK143.8 were charged. There is significant uncertainty associated with the assumptions for the value in use calculations. Thecalculation is based on market prospects which are weak in all three segments in the short and medium term.On a general view, it is considered that the seismic survey market will see a few years after the balance sheetdate where layups or reduced rates must be expected for the vessels that are not on fixed contracts. The sameconsiderations apply to the subsea and supply markets. The expected future earnings used in the calculations are implicitly adjusted for utilisation rate adapted to thisgeneral market view. Therefore, sensitivity calculations have also been performed for the value in usecalculations and the impaired amounts, in order to highlight the uncertainty in the calculations. If the utilisation rate for the entire fleet are assumed to be reduced by 5 percentage points on uncontractedincome, the impairment would not be affected. If the WACC assumed had increased to 10.5%, the impairmentcharge would not be affected. Climate-related matters The Group constantly monitors the latest regulatory changes in relation to climate-related matters. The Group has already invested in hybrid battery solutions for the majority of its fleet. For further green fuelsand technologies to reduce CO2 emission for the fleet the Group continues to investigate this together with ourcustomers, suppliers and also follow up on possibilities for public funding. Forecast for the vessels includegreen investments to the extent relevant and are therefore included in assessment of impairment and reversalof impairment. The investments done by the Group so far with focus on reduction in CO2 has historicallycontributed to securing long term contracts for the vessels in particular in periods where there has been excesscapacity in the market. Higher fuel price due to CO2 levels or the cost of green fuels will for the most part beforwarded to the customer, hence there is limited impact in the Group\u2019s OPEX short term. For the Group\u2019s long term sustainability goals of 50% reduction in CO2 in 2030, and climate neutral in 2050 tobe met, both newbuild programs and new technology has to be implemented and yield appropriate returns. Longterm investments are evaluated on this basis. In the current market, with the existing fleet in the industry, current new build plans and commercial maturityof new emission technology there is no impact on residual values or useful life of the Group\u2019s existing vessels.All the Group\u2019s vessels comply with current environmental requirements. Reference is also made to Note 2.27d). NOTE 22 - LEASES (NOK thousands) Right-of-use assets IFRS 16 \u201cLeases\u201d sets out the principles for the recognition, measurement and disclosure requirements for bothparties to a lease contract. IFRS 16 is effective for reporting periods beginning on or after January 1, 2019.The Group adopted IFRS 16 on the effective date using a modified retrospective approach and will not restatecomparative information. The Group is both a lessor, as it charters vessels to customers, and a lessee. The new requirements result insignificant changes to the accounting model applied by lessees and will primarily affect the Group\u2019s accountingfor the operating leases as a lessee. The accounting for lessors will not significantly change. To determine whether a contract contains a lease, it is considered whether the contract conveys the right tocontrol the use of an identified asset. This is for the Group considered to only be the case for office leases andvehicles. The Group has long term lease agreements on office premises and vehicles that will be affected byimplementation of IFRS 16. For the Group, these lease commitments will result in the recognition of an asset(right-of-use) and a lease liability. The rental period is calculated based on the duration of the agreement plusany option periods if these with reasonable certainty will be exercised. Joint expenses etc. are not recognisedin the lease liability for the rental contracts. As permitted by IFRS 16, the Group chose to measure the right-of-use asset equal to the amount of the liabilityat the implementation date. The future payments under each lease arrangement have been discounted usingthe incremental borrowing rate applicable to the leased assets in order to calculate the lease liability recognizedon the date of adoption. The Group has used the following practical expedients when applying IFRS 16 to leases: \u2022 Applied the exemption not to recognise right-of-use assets and liabilities for leases with less than 12months of lease term \u2022 Excluded initial direct costs from measuring the right-of-use assets at the date of initial application \u2022 The liabilities were measured at the present value of the remaining lease payments, discounted usingthe lessee\u2019s incremental borrowing rate as of 1 January 2019. The weighted average lessee\u2019sincremental borrowing rate applied to the lease liabilities on January 1, 2019 was 5.0%.Right-of-use assets Buildings Vehicles TotalAcquisition cost January 1, 2022 64 048 386 64 434Addition of right-of-use assets 10 010 626 10 636Disposals -86 -86Acquisition cost December 31, 2022 74 058 926 74 984Accumulated depreciation and impairment Depreciation 2019 4 293 179 4 472Depreciation 2020 4 575 179 4 754Depreciation 2021 4 679 28 4 707Depreciation 2022 5 411 152 5 563Accumulated depreciation and impairment December 31, 2022 18 958 538 19 496Carrying amount of right-of-use assets December 31, 2022 55 101 388 55 48910 24-50 Lower of remaining lease term or economic life years months Lease liabilities Undiscounted lease liabilities and maturity of cash outflows Buildings Vehicles TotalLess than 1 year 7 534 153 7 6871-2 years 7 534 122 7 6562-3 years 7 534 74 7 6083-4 years 7 534 74 7 6084-5 years 7 534 12 7 546More than 5 years 34 467 0 34 467Total undiscounted lease liabilities at December 31, 2022 72 137 436 72 573Summary of the lease liabilities Buildings Vehicles TotalAt initial application 01.01.2022 54 402 0 54 402New lease liabilities recognised in the year 7 659 539 8 198Installment -7 092 -165 -7 257Interest expense on lease liabilities 2 824 23 2 847Total lease liabilities at December 31, 2022 57 793 397 58 190Current lease liabilities 4 084 133 4 217Non-current lease liabilities 53 708 264 53 973Total cash flow for leases 7 257The Group as lessor The Group\u2019s main activity is leasing of offshore tonnage. See overview as of April 26, 2023, below. Vessels, Contract expiry, Contract expiry, consolidated Contract type Customer fixed charterer's option Viking Lady Time charter Aker BP December, 2024 December, 2030 Viking Queen Time charter Wintershall May, 2024 April, 2027 Viking Avant Time charter Equinor December, 2025 December, 2028 Viking Energy Time charter Equinor April, 2025 April, 2030 Viking Prince Time charter Aker BP December, 2025 Viking Princess Time charter Wintershall January, 2024 January, 2026 Viking Wind Power Time charter Siemens Gamesa January, 2027 June, 2027 Subsea Viking Time charter Van Oord March, 2028 August, 2028 Viking Vanquish Sold in March 2023 Viking Vision Layup Veritas Viking Layup Vantage Layup Vessel in joint Contract expiry, Contract expiry, venture Contract type Customer fixed charterer's option Seven Viking Time charter Subsea 7 November, 2025 December, 2026 Future minimum lease terms per December 31, 2022, including all new contracts as at April 26, 2023, for consolidated vessels on firm contracts have the following maturity (NOK thousands): Next 1 year 513 000 1 to 5 years 973 000 After 5 years 13 000 Future minimum lease 1 499 000 The Group has operating lease contract on its vessels representing income. The leases have terms of between12 and 62 months. As payments from the lessee to the Group is determined based on the fixed day rate agreedin the contract, no portion of the payments varies other than the passage of time. ",
"dimensions": {
"concept": "ifrs-full:DisclosureOfExpensesExplanatory",
"language": "en",
"entity": "scheme:5967007LIEEXZXFOMO31",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"pp-value-70-5": {
"value": "NOTE 6 \u2013 OTHER OPERATING EXPENSES (NOK thousands) 2022 2021 Technical operation of vessels 89 742 82 940 Insurance 13 774 13 107 Communication costs 6 726 5 734 Administrative costs 11 668 34 233 Other operating expenses 121 910 136 014 Technical operation of vessels includes ongoing operating costs and maintenance of the Group\u2019s vessels;classification costs are capitalised and depreciated until the next classification and so do not appear as aseparate operating cost. Administration costs consist mainly of travel, consultancy, legal, audit, leasing and other office costs. ",
"dimensions": {
"concept": "ifrs-full:DisclosureOfGeneralAndAdministrativeExpenseExplanatory",
"language": "en",
"entity": "scheme:5967007LIEEXZXFOMO31",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"pp-value-69-2": {
"value": "Auditor: (NOK thousands) 2022 2021Statutory audit 1 772 1 743Other financial audit 0 192Tax advice 48 0Other audit services 316 0Total audit 2 136 1 935The auditor\u2019s fees are presented excluding VAT. ",
"dimensions": {
"concept": "ifrs-full:DisclosureOfAuditorsRemunerationExplanatory",
"language": "en",
"entity": "scheme:5967007LIEEXZXFOMO31",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"pp-value-75-5": {
"value": "NOTE 8 \u2013 NET FINANCIAL ITEMS (NOK thousands) 2022 2021Interest income 10 831 10 502Other financial income 3 590 0Total financial income 14 421 10 502Interest expense on loans -86 166 -71 529Other interest expenses -277 -1 129Interest cost \u2013 lease liabilities -3 783 -2 885Reversal of previous write-downs of receivables 7 247 7 366Other financial expenses -10 865 -910Total financial expenses -93 844 -69 087Realised currency gains (losses) -94 411 -17 667Change in market value on interest instruments 51 142 18 282Unrealised currency gains (losses) \u2013 related to other -21 584 -14 222items Value change on currency futures 26ecognized at fair -363 -5 721value via profit/loss Total currency gains -65 216 -19 328Net financial items -144 639 -77 913Realised currency loss in 2022 is mainly related to the delivery of Viking Neptun and the correspondingrepayment of debt. ",
"dimensions": {
"concept": "ifrs-full:DisclosureOfFinanceIncomeExplanatory",
"language": "en",
"entity": "scheme:5967007LIEEXZXFOMO31",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"pp-value-75-6": {
"value": "NOTE 8 \u2013 NET FINANCIAL ITEMS (NOK thousands) 2022 2021Interest income 10 831 10 502Other financial income 3 590 0Total financial income 14 421 10 502Interest expense on loans -86 166 -71 529Other interest expenses -277 -1 129Interest cost \u2013 lease liabilities -3 783 -2 885Reversal of previous write-downs of receivables 7 247 7 366Other financial expenses -10 865 -910Total financial expenses -93 844 -69 087Realised currency gains (losses) -94 411 -17 667Change in market value on interest instruments 51 142 18 282Unrealised currency gains (losses) \u2013 related to other -21 584 -14 222items Value change on currency futures 26ecognized at fair -363 -5 721value via profit/loss Total currency gains -65 216 -19 328Net financial items -144 639 -77 913Realised currency loss in 2022 is mainly related to the delivery of Viking Neptun and the correspondingrepayment of debt. ",
"dimensions": {
"concept": "ifrs-full:DisclosureOfFinanceCostExplanatory",
"language": "en",
"entity": "scheme:5967007LIEEXZXFOMO31",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"pp-value-75-7": {
"value": "NOTE 8 \u2013 NET FINANCIAL ITEMS (NOK thousands) 2022 2021Interest income 10 831 10 502Other financial income 3 590 0Total financial income 14 421 10 502Interest expense on loans -86 166 -71 529Other interest expenses -277 -1 129Interest cost \u2013 lease liabilities -3 783 -2 885Reversal of previous write-downs of receivables 7 247 7 366Other financial expenses -10 865 -910Total financial expenses -93 844 -69 087Realised currency gains (losses) -94 411 -17 667Change in market value on interest instruments 51 142 18 282Unrealised currency gains (losses) \u2013 related to other -21 584 -14 222items Value change on currency futures 26ecognized at fair -363 -5 721value via profit/loss Total currency gains -65 216 -19 328Net financial items -144 639 -77 913Realised currency loss in 2022 is mainly related to the delivery of Viking Neptun and the correspondingrepayment of debt. ",
"dimensions": {
"concept": "ifrs-full:DisclosureOfInterestExpenseExplanatory",
"language": "en",
"entity": "scheme:5967007LIEEXZXFOMO31",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"pp-value-80-3": {
"value": "NOTE 11 \u2013 PAYROLL EXPENSES AND NUMBER OF EMPLOYEES (NOK thousands) 2022 2021 Payroll after net pay refund 181 989 161 021 Social security costs 49 494 44 429 Defined benefit pension (see Note 18) 275 268 Contribution pension 12 402 13 849 Hired personnel 29 273 23 435 Other personnel costs 28 992 30 070 Total personnel costs 302 425 273 072 Salaries and payroll tax are shown after deduction for the reimbursement scheme for seafarers. The average number of full-time equivalents was: 429 426 Number of employees at end of year: 428 424 In 2022, NOK 41,581 thousand (NOK 57,201 thousand in 2021) was received in connection with thereimbursement scheme for Norwegian seafarers. In 2022, NOK 3,013 thousand (NOK 2,577 thousand in 2021) was received from Stiftelsen Norsk MaritimKompetanse. All received refunds are presented as a reduction of payroll expenses. ",
"dimensions": {
"concept": "ifrs-full:DisclosureOfInformationAboutEmployeesExplanatory",
"language": "en",
"entity": "scheme:5967007LIEEXZXFOMO31",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"pp-value-84-2": {
"value": "NOTE 13 \u2013 OTHER LONG-TERM RECEIVABLES (NOK thousands) 31.12.2022 31.12.2021 Long-term receivables, OSEV 39 769 51 178 Total other long-term receivables 39 769 51 178 Long-term receivables, OSEV, are related to the company Oceanic Seismic Vessels AS (subsidiary of GlobalSeismic Shipping AS, \u201cGSS\u201d), regarding the reorganisation of shares in the company and the establishment ofGSS (sold in January 2020), as well as the receipt of receivables against the same companies from CGG aspart-settlement for the amendment in the contract for Viking Vanquish in 2017. The nominal value as atDecember 31, 2022, was MUSD 8.45 (MUSD 12.60 as at December 31, 2021), but the value recognised in theaccounts is substantially lower due to provisions for counterparty risk with the company\u2019s charterer. In 2022repayments were paid in accordance with the agreed plan, and write-downs on the payments received werereversed (see Note 5 and Note 8). NOTE 15 \u2013 OTHER CURRENT ASSETS (NOK thousands) 31.12.2022 31.12.2021 Inventories (bunkers and lube oil) 17 756 21 756 Other shares 34 34 VAT receivable 2 534 10 068 Insurance settlement receivable 20 983 5 363 Net payroll 13 427 14 697 Prepaid expenses 16 011 16 345 Security for guarantee 10 000 0 Total other current assets 80 744 68 265 Prepaid expenses include expenses for pre-paid insurance, refund of crew costs and unbilled expenses.",
"dimensions": {
"concept": "ifrs-full:DisclosureOfOtherAssetsExplanatory",
"language": "en",
"entity": "scheme:5967007LIEEXZXFOMO31",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"pp-value-84-3": {
"value": "NOTE 13 \u2013 OTHER LONG-TERM RECEIVABLES (NOK thousands) 31.12.2022 31.12.2021 Long-term receivables, OSEV 39 769 51 178 Total other long-term receivables 39 769 51 178 Long-term receivables, OSEV, are related to the company Oceanic Seismic Vessels AS (subsidiary of GlobalSeismic Shipping AS, \u201cGSS\u201d), regarding the reorganisation of shares in the company and the establishment ofGSS (sold in January 2020), as well as the receipt of receivables against the same companies from CGG aspart-settlement for the amendment in the contract for Viking Vanquish in 2017. The nominal value as atDecember 31, 2022, was MUSD 8.45 (MUSD 12.60 as at December 31, 2021), but the value recognised in theaccounts is substantially lower due to provisions for counterparty risk with the company\u2019s charterer. In 2022repayments were paid in accordance with the agreed plan, and write-downs on the payments received werereversed (see Note 5 and Note 8). ",
"dimensions": {
"concept": "ifrs-full:DisclosureOfOtherNoncurrentAssetsExplanatory",
"language": "en",
"entity": "scheme:5967007LIEEXZXFOMO31",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"pp-value-85-4": {
"value": "NOTE 14 \u2013 ACCOUNTS RECEIVABLE (NOK thousands) 31.12.2022 31.12.2021 Accounts receivable 127 269 125 302 Accounts receivable related parties/join ventures 16 019 12 485 Provision for losses -1 529-6 845Total accounts receivable 141 759 130 942 Of overdue accounts receivable related to other than related parties, the expected loss rate is as follows:(NOK thousands) 31.12.2022 31.12.2021 0-3 months0 % 1 % 3-6 months0 % 0 % 6 months <47 % 58 % Recorded value of the Group\u2019s accounts receivable per currency: EUR 16 447 22 447 USD 15 710 27 569 GBP 0 47 NOK 109 601 80 879 Total accounts receivable 141 759 130 942 Net change in provisions for impairment of accounts receivable: 31.12.2022 31.12.2021 At January 1 6 845 1 400 Provision for impairment of receivables -6 8455 445 Accounts receivable recorded as loss during the year -1 5290 At December 31 -1 5296 845 NOTE 24 - TRANSACTIONS WITH RELATED PARTIES (NOK thousands) The Group has some transactions with related parties, concerning crew hire, management services for vesseloperations, business and accounting services and leasing of offices. All transactions are based on the arm\u2019slength principle. 2022 2021 Lease of offices from AS Langev\u00e5g Senter -8 477 -8 277 Lease of offices to Evik AS 678 586 Lease of apartment from Evik AS -82 -79 Lease of offices to B\u00f8mmelfjord AS 773 595 Sale of other services to Eidesvik Invest AS 11 52 Lease of offices and other services to Signatur Management AS 952 800 Purchase of office services from Signatur Management AS -22 0 Lease of stockroom and other services from Klubben Eiendom AS -549 -473 Sale of office services and lease of apartment to B\u00f8mlo Skipservice AS 7 39 Purchase of technical and layup services from B\u00f8mlo Skipservice AS -6 636 -6 380 Sale of crew and management services to Eidesvik Seven Chartering AS 94 356 71 769 Sale of management services to Eidesvik Seven AS 1 420 2 793 The balance sheet includes the following amounts resulting from transactions with related parties: 31.12.2022 31.12.2021 Accounts receivable 16 019 12 485 Accounts payable -359 -1 489 Total 15 659 10 996 Shares owned/controlled by Board members/senior executives: 2022 2021 Eidesvik Invest AS (1) 37 200 000 37 200 000 John Egil Stangeland 30 000 30 000 Kristine Elisabeth Skeie 25 000 25 000 Bj\u00f8rg Marit Eknes 25 000 25 000 Gitte Gard Talmo 500 500 Lauritz Eidesvik 200 200 (1) Eidesvik Invest AS is 55%-controlled by B\u00f8mmelfjord AS, where Borgny Eidesvik holds 20% of the shares(A-shares), and Lauritz Eidesvik holds 20% of the shares (B-shares). The remaining 45% of Eidesvik Invest ASis owned by Evik AS, where Lars Eidesvik indirectly holds 20% of the shares. The Eidesvik Offshore ASA Group is a subsidiary of Eidesvik Invest AS, which is a subsidiary of the ultimateparent company B\u00f8mmelfjord AS. Remuneration to senior executives: 2022 Base salary Bonus Other Pension costs CEO Gitte Talmo 2 128 770 315 147 COO Arve Nilsen 1 350 312 215 122 CFO Helga Cotgrove 519 180 52 35 Former CEO Jan Fredrik Meling 252 0 1 493 414 Former COO Jan Lodden 1 127 0 56 62 Former CFO Tore Byberg 1 179 0 105 56 Total 2022 6 555 1 261 2 236 837 2021 Base salary Bonus Other Pension costs CEO Jan Fredrik Meling 2 224 384 137 385 COO Jan Lodden 1 730 291 108 125 CFO Tore Byberg 1 594 273 226 115 Total 2021 5 549 948 470 625 The Company has published a separate Report on Remuneration to the Board of Directors, CEO and SeniorExecutives, available for download from the Company\u2019s website. In accordance to the company renumeration policy, a bonus scheme is established for CEO and seniorexecutives. Bonus scheme is based on company targets (75%) and individual targets (25%). Maximum bonusis 35% of annual salary. The Board of Directors may temporarily deviate from any part of the guidelines ifdeemed necessary to protect the long term interest and financial capacity of the Company or safeguard theviability of the company. The CEO has a mutual notice period of 6 months and is entitled to 6 months of severance pay on certain termsper December 31, 2022. Former CEO, Jan Fredrik Meling, retired from his position on December 31, 2021. Gitte Gard Talmo replacedMeling effective from January 1, 2022. Meling has received 60% of his salary in 2022 and will also continue toreceive 60% in 2023. His pension costs has been covered by Eidesvik Offshore ASA in 2022, and will becovered in 2023 as well. COO Jan Lodden resigned from his position in June 2022. Arve Nilsen replaced Lodden effective from June 1,2022. CFO Tore Byberg resigned from his position in July 2022. Helga Cotgrove replaced Byberg effective fromSeptember 19, 2022. Remuneration of the Board 2022 2021 Arne Austreid 319 0 303 279 Borgny Eidesvik 243 236 Lars Eidesvik 243 236 John Egil Stangeland 263 246 Lauritz Eidesvik 243 236 Kristine Elisabeth Skeie 177 0 Bj\u00f8rg Marit Eknes 46 0 Johnny Olson 0 88 Petter L\u00f8nning 248 525 Kolbein Rege 126 279 Synne Syrrist 85 113 B\u00f8rre Lindanger 112 35 Tore Hettervik 2 407 2 273 The Board Remuneration Annual Change 5,57% Board remuneration is decided by the General Meeting. Disbursements for 2022 are remuneration for theprevious year, 2021. 2022 remuneration will be decided on the next Annual General Meeting. Arne Austreid, Bj\u00f8rg Marit Eknes and Tore Hettervik were, respectively, elected as chair of the board memberand employee representative for the board in 2021. Johnny Olson were, respectively, elected as employeerepresentative for the board in 2022. From AGM 2019, the employees have had one employee representative in the Board, and one deputy employeerepresentative. The total remuneration for these two representatives are equal to a original Board Member, andthe split is originally 70/30 between the two employee representatives, depending on the number of meetingsthe deputy employee representative has attended. The employee representatives rotate on a yearly basis, fromJuly to July. Nomination Committee 2022 2021 30 15 Per \u00c5ge Hauge 20 10 Ellen Hatteland* 20 10 Kjetil Eidesvik 20 10 Lauritz Eidesvik** 20 10 Kolbein Rege** * At the Annual General Meeting in 2022, Kristine Klaveness replaced Ellen Hatteland in the NominationCommittee. ** *This compensation is included in the table for remuneration of the board. Remuneration is decided by the General Meeting. Disbursements for 2022 are remuneration for the previousyear, 2021. From AGM 2020, the Nomination Committee was established. The remuneration fee for the NominationCommittee in 2021 is only for the second half of 2020. ",
"dimensions": {
"concept": "ifrs-full:DisclosureOfRelatedPartyExplanatory",
"language": "en",
"entity": "scheme:5967007LIEEXZXFOMO31",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"pp-value-86-3": {
"value": "NOTE 15 \u2013 OTHER CURRENT ASSETS (NOK thousands) 31.12.2022 31.12.2021 Inventories (bunkers and lube oil) 17 756 21 756 Other shares 34 34 VAT receivable 2 534 10 068 Insurance settlement receivable 20 983 5 363 Net payroll 13 427 14 697 Prepaid expenses 16 011 16 345 Security for guarantee 10 000 0 Total other current assets 80 744 68 265 Prepaid expenses include expenses for pre-paid insurance, refund of crew costs and unbilled expenses.",
"dimensions": {
"concept": "ifrs-full:DisclosureOfOtherCurrentAssetsExplanatory",
"language": "en",
"entity": "scheme:5967007LIEEXZXFOMO31",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"pp-value-86-4": {
"value": "NOTE 15 \u2013 OTHER CURRENT ASSETS (NOK thousands) 31.12.2022 31.12.2021 Inventories (bunkers and lube oil) 17 756 21 756 Other shares 34 34 VAT receivable 2 534 10 068 Insurance settlement receivable 20 983 5 363 Net payroll 13 427 14 697 Prepaid expenses 16 011 16 345 Security for guarantee 10 000 0 Total other current assets 80 744 68 265 Prepaid expenses include expenses for pre-paid insurance, refund of crew costs and unbilled expenses.",
"dimensions": {
"concept": "ifrs-full:DisclosureOfInventoriesExplanatory",
"language": "en",
"entity": "scheme:5967007LIEEXZXFOMO31",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"pp-value-86-5": {
"value": "NOTE 15 \u2013 OTHER CURRENT ASSETS (NOK thousands) 31.12.2022 31.12.2021 Inventories (bunkers and lube oil) 17 756 21 756 Other shares 34 34 VAT receivable 2 534 10 068 Insurance settlement receivable 20 983 5 363 Net payroll 13 427 14 697 Prepaid expenses 16 011 16 345 Security for guarantee 10 000 0 Total other current assets 80 744 68 265 Prepaid expenses include expenses for pre-paid insurance, refund of crew costs and unbilled expenses.",
"dimensions": {
"concept": "ifrs-full:DisclosureOfPrepaymentsAndOtherAssetsExplanatory",
"language": "en",
"entity": "scheme:5967007LIEEXZXFOMO31",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"pp-value-87-3": {
"value": "NOTE 16 - CASH AND CASH EQUIVALENTSOf total cash and cash equivalents at December 31, 2022, of MNOK 655.7 (MNOK 330.4 at December 31, 2021),where MNOK 7.2 is restricted tax funds and MNOK 62.7 is funding restricted for use towards the ShipFCammonia project (EU support). ",
"dimensions": {
"concept": "ifrs-full:DisclosureOfRestrictedCashAndCashEquivalentsExplanatory",
"language": "en",
"entity": "scheme:5967007LIEEXZXFOMO31",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"pp-value-92-5": {
"value": "NOTE 19 - OTHER LIABILITIES (NOK thousands) 31.12.2022 31.12.2021 Public taxes and charges 27 501 35 474 Salaries and holiday pay 35 280 33 639 Accrued expenses 57 524 51 890 Prepaid costs SHIP-FC project 57 401 19 925 Total other current liabilities 177 707 140 929 Accrued expenses are mainly related to provisions for accrued operating costs and docking/averageadjustment. In 2020 Eidesvik entered into the five year European joint development project ShipFC where Viking Energywill be retrofitted with a 2 MW fuel cell running on green ammonia. The project has received funding from EUto cover a main part of the project costs. ",
"dimensions": {
"concept": "ifrs-full:DisclosureOfOtherProvisionsContingentLiabilitiesAndContingentAssetsExplanatory",
"language": "en",
"entity": "scheme:5967007LIEEXZXFOMO31",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"pp-value-92-6": {
"value": "NOTE 19 - OTHER LIABILITIES (NOK thousands) 31.12.2022 31.12.2021 Public taxes and charges 27 501 35 474 Salaries and holiday pay 35 280 33 639 Accrued expenses 57 524 51 890 Prepaid costs SHIP-FC project 57 401 19 925 Total other current liabilities 177 707 140 929 Accrued expenses are mainly related to provisions for accrued operating costs and docking/averageadjustment. In 2020 Eidesvik entered into the five year European joint development project ShipFC where Viking Energywill be retrofitted with a 2 MW fuel cell running on green ammonia. The project has received funding from EUto cover a main part of the project costs. ",
"dimensions": {
"concept": "ifrs-full:DisclosureOfOtherCurrentLiabilitiesExplanatory",
"language": "en",
"entity": "scheme:5967007LIEEXZXFOMO31",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"pp-value-93-3": {
"value": "NOTE 20 - LONG-TERM LIABILITIES Book value (NOK thousands) 31.12.2022 31.12.2021Mortgage (NOK) 827 958 884 165Mortgage (USD) 311 518 1 091 947Other loan 1 099 1 056Capitalised establishment costs -1 471 -5 599Total interest-bearing long-term liabilities 1 139 103 1 971 570Total long-term liabilities 1 139 103 1 971 570Short-term portion of long-term liabilities -983 569 -86 705Liabilities related to Assets held for sale -112 365 -840 666Total long-term liabilities excl. first year\u2019s repayment 43 169 1 044 199Short-term loans First year\u2019s repayment of long-term liabilities 983 569 86 705Accrued interest 5 965 7 674Total 989 534 94 379Liabilities related to Assets held for sale 112 365 840 666Total 112 365 840 666Book value of liabilities in currency NOK 827 585 879 623USD 311 518 1 091 947Total 1 139 103 1 971 570Amortisation profile on long-term liabilities at December 31, 2022*: Pre refinancing in Q1 2023 Post refinancing in Q1 2023 2023 1 095 934 452 500 2024 43 542 85 000 2025 0 85 000 2026 0 516 976 Total repayments 1 139 476 1 139 476 Amortisation profile on long-term liabilities at December 31, 2021*: 2022 128 364 2023 1 676 479 2024 80 035 2025 36 494 2026 36 494 Later 18 247 Total repayments 1 976 112 *Liabilities related to Assets held for sale will become due and payable at the time of completion of the sale. The Company has in Q4 2022 sold the Subsea/Offshore Wind vessel Viking Neptun, and the long-term loan is repaid. All four seismic vessels are classified as held-for-sale, and the corresponding debt is classified as Liabilities related to assets held for sale. Refer to note 12 for Assets held for sale. Of total liabilities, MNOK 1,139.5 are secured against mortgages in vessels recorded at MNOK 1,143.5. For an assessment of the fair value of long-term liabilities, see Notes 3 and 23. Interest-Interest-Current Non-current Interest bearing Assets held bearing Change in liabilities lease lease Totalexpenses short-term for sale* long-term liabilities liabilities debt debt At January 1, 2022 94 379 3 256 840 666 1 044 199 51 147 2 033 646Repayment of debt -89 797 -4 890 (876 124) 0 0 -970 811Interest paid -83 335 -7 674 0 0 0 0 -91 009Cash flow from financing -83 335 -97 472 -4 890 -876 124 0 0 -1 061 821Exchange rate effects 36 703 0 96 056 0 0 132 759Capitalisation costs 0 0 0 4 127 0 4 127Interest accrued but not paid 5 965 0 0 5 965Other changes 949 958 5 851 51 768 -1 005 158 2 827 5 246At December 31, 2022 989 534 4 217 112 365 43 168 53 973 1 203 258Interest-Current Interest-Non-current Interest bearing Assets held Change in liabilities lease bearing long-lease Totalexpenses short-term for sale* liabilities term debt liabilities debt At January 1, 2021 166 596 3 256 0 2 193 798 54 862 2 418 512Repayment of debt -420 514 -3 714 0 0 0 --424 228Interest paid -71 291 -8 871 0 0 0 0 -80 163Cash flow from financing -71 291 -429 386 -3 714 0 0 0 --504 392Exchange rate effects -6 635 0 0 43 611 0 36 976Capitalisation costs 0 0 0 3 557 0 3 557Interest accrued but not paid 7 674 0 0 0 0 7 674Other changes 356 129 3 714 840 666 -1 196 767 -3 714 28At December 31, 2021 94 379 3 256 840 666 1 044 199 51 147 2 033 647*Liabilities related to Assets Held for sale Covenants The majority of the Company\u2019s fleet is financed with mortgage loans, mainly fleet loans. The most important financial covenants at December 31, 2022, were: \u2022 Free liquidity of MNOK 70. \u2022 Positive working capital (current assets less current liabilities, excluding current portion of long-term debt). \u2022 Loan to value: Suspended until the end of the refinancing period. \u2022 Limitations on investments and dividends. There are also clauses related to change of control concerning the Eidesvik families. No companies in the Eidesvik Offshore Group were in breach of any covenants at December 31, 2022, or during 2022. The new refinancing On February 22, 2023, Eidesvik announced that it had agreed on a term sheet with its financial institutions for refinancing of its debt. On March 28, 2023, the final agreements and documentation were in place and the new terms for the Group\u2019s financing became effective. The new debt will mature on February 28, 2026, and hence reclassify the majority of the outstanding debt from current liabilities to non-current liabilities. Summary of the refinancing Amortization: \u2022 Facility prepayment of NOK 410 million was made on the date of signing and final documentation. \u2022 In 2023, scheduled amortization amounts to NOK 42.5 million in total for the Group. \u2022 In 2024 and 2025, scheduled amortization amounts to NOK 85.0 million in total for the Group. Cash Sweep: \u2022 No cash sweep mechanisms Financial covenants: \u2022 Minimum free liquidity of NOK 60 million. \u2022 Positive working capital (current assets less current liabilities, excluding instalments and current portion of long term debt). \u2022 Leverage ratio of 5.0 or lower in 2023, 4.0 in 2024 and 3.5 in 2025. \u2022 Equity ratio of 35% for 2023, and 40% thereafter. ",
"dimensions": {
"concept": "ifrs-full:DisclosureOfBorrowingCostsExplanatory",
"language": "en",
"entity": "scheme:5967007LIEEXZXFOMO31",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"pp-value-93-4": {
"value": "NOTE 20 - LONG-TERM LIABILITIES Book value (NOK thousands) 31.12.2022 31.12.2021Mortgage (NOK) 827 958 884 165Mortgage (USD) 311 518 1 091 947Other loan 1 099 1 056Capitalised establishment costs -1 471 -5 599Total interest-bearing long-term liabilities 1 139 103 1 971 570Total long-term liabilities 1 139 103 1 971 570Short-term portion of long-term liabilities -983 569 -86 705Liabilities related to Assets held for sale -112 365 -840 666Total long-term liabilities excl. first year\u2019s repayment 43 169 1 044 199Short-term loans First year\u2019s repayment of long-term liabilities 983 569 86 705Accrued interest 5 965 7 674Total 989 534 94 379Liabilities related to Assets held for sale 112 365 840 666Total 112 365 840 666Book value of liabilities in currency NOK 827 585 879 623USD 311 518 1 091 947Total 1 139 103 1 971 570Amortisation profile on long-term liabilities at December 31, 2022*: Pre refinancing in Q1 2023 Post refinancing in Q1 2023 2023 1 095 934 452 500 2024 43 542 85 000 2025 0 85 000 2026 0 516 976 Total repayments 1 139 476 1 139 476 Amortisation profile on long-term liabilities at December 31, 2021*: 2022 128 364 2023 1 676 479 2024 80 035 2025 36 494 2026 36 494 Later 18 247 Total repayments 1 976 112 *Liabilities related to Assets held for sale will become due and payable at the time of completion of the sale. The Company has in Q4 2022 sold the Subsea/Offshore Wind vessel Viking Neptun, and the long-term loan is repaid. All four seismic vessels are classified as held-for-sale, and the corresponding debt is classified as Liabilities related to assets held for sale. Refer to note 12 for Assets held for sale. Of total liabilities, MNOK 1,139.5 are secured against mortgages in vessels recorded at MNOK 1,143.5. For an assessment of the fair value of long-term liabilities, see Notes 3 and 23. Interest-Interest-Current Non-current Interest bearing Assets held bearing Change in liabilities lease lease Totalexpenses short-term for sale* long-term liabilities liabilities debt debt At January 1, 2022 94 379 3 256 840 666 1 044 199 51 147 2 033 646Repayment of debt -89 797 -4 890 (876 124) 0 0 -970 811Interest paid -83 335 -7 674 0 0 0 0 -91 009Cash flow from financing -83 335 -97 472 -4 890 -876 124 0 0 -1 061 821Exchange rate effects 36 703 0 96 056 0 0 132 759Capitalisation costs 0 0 0 4 127 0 4 127Interest accrued but not paid 5 965 0 0 5 965Other changes 949 958 5 851 51 768 -1 005 158 2 827 5 246At December 31, 2022 989 534 4 217 112 365 43 168 53 973 1 203 258Interest-Current Interest-Non-current Interest bearing Assets held Change in liabilities lease bearing long-lease Totalexpenses short-term for sale* liabilities term debt liabilities debt At January 1, 2021 166 596 3 256 0 2 193 798 54 862 2 418 512Repayment of debt -420 514 -3 714 0 0 0 --424 228Interest paid -71 291 -8 871 0 0 0 0 -80 163Cash flow from financing -71 291 -429 386 -3 714 0 0 0 --504 392Exchange rate effects -6 635 0 0 43 611 0 36 976Capitalisation costs 0 0 0 3 557 0 3 557Interest accrued but not paid 7 674 0 0 0 0 7 674Other changes 356 129 3 714 840 666 -1 196 767 -3 714 28At December 31, 2021 94 379 3 256 840 666 1 044 199 51 147 2 033 647*Liabilities related to Assets Held for sale Covenants The majority of the Company\u2019s fleet is financed with mortgage loans, mainly fleet loans. The most important financial covenants at December 31, 2022, were: \u2022 Free liquidity of MNOK 70. \u2022 Positive working capital (current assets less current liabilities, excluding current portion of long-term debt). \u2022 Loan to value: Suspended until the end of the refinancing period. \u2022 Limitations on investments and dividends. There are also clauses related to change of control concerning the Eidesvik families. No companies in the Eidesvik Offshore Group were in breach of any covenants at December 31, 2022, or during 2022. The new refinancing On February 22, 2023, Eidesvik announced that it had agreed on a term sheet with its financial institutions for refinancing of its debt. On March 28, 2023, the final agreements and documentation were in place and the new terms for the Group\u2019s financing became effective. The new debt will mature on February 28, 2026, and hence reclassify the majority of the outstanding debt from current liabilities to non-current liabilities. Summary of the refinancing Amortization: \u2022 Facility prepayment of NOK 410 million was made on the date of signing and final documentation. \u2022 In 2023, scheduled amortization amounts to NOK 42.5 million in total for the Group. \u2022 In 2024 and 2025, scheduled amortization amounts to NOK 85.0 million in total for the Group. Cash Sweep: \u2022 No cash sweep mechanisms Financial covenants: \u2022 Minimum free liquidity of NOK 60 million. \u2022 Positive working capital (current assets less current liabilities, excluding instalments and current portion of long term debt). \u2022 Leverage ratio of 5.0 or lower in 2023, 4.0 in 2024 and 3.5 in 2025. \u2022 Equity ratio of 35% for 2023, and 40% thereafter. ",
"dimensions": {
"concept": "ifrs-full:DisclosureOfCollateralExplanatory",
"language": "en",
"entity": "scheme:5967007LIEEXZXFOMO31",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"pp-value-93-5": {
"value": "NOTE 20 - LONG-TERM LIABILITIES Book value (NOK thousands) 31.12.2022 31.12.2021Mortgage (NOK) 827 958 884 165Mortgage (USD) 311 518 1 091 947Other loan 1 099 1 056Capitalised establishment costs -1 471 -5 599Total interest-bearing long-term liabilities 1 139 103 1 971 570Total long-term liabilities 1 139 103 1 971 570Short-term portion of long-term liabilities -983 569 -86 705Liabilities related to Assets held for sale -112 365 -840 666Total long-term liabilities excl. first year\u2019s repayment 43 169 1 044 199Short-term loans First year\u2019s repayment of long-term liabilities 983 569 86 705Accrued interest 5 965 7 674Total 989 534 94 379Liabilities related to Assets held for sale 112 365 840 666Total 112 365 840 666Book value of liabilities in currency NOK 827 585 879 623USD 311 518 1 091 947Total 1 139 103 1 971 570Amortisation profile on long-term liabilities at December 31, 2022*: Pre refinancing in Q1 2023 Post refinancing in Q1 2023 2023 1 095 934 452 500 2024 43 542 85 000 2025 0 85 000 2026 0 516 976 Total repayments 1 139 476 1 139 476 Amortisation profile on long-term liabilities at December 31, 2021*: 2022 128 364 2023 1 676 479 2024 80 035 2025 36 494 2026 36 494 Later 18 247 Total repayments 1 976 112 *Liabilities related to Assets held for sale will become due and payable at the time of completion of the sale. The Company has in Q4 2022 sold the Subsea/Offshore Wind vessel Viking Neptun, and the long-term loan is repaid. All four seismic vessels are classified as held-for-sale, and the corresponding debt is classified as Liabilities related to assets held for sale. Refer to note 12 for Assets held for sale. Of total liabilities, MNOK 1,139.5 are secured against mortgages in vessels recorded at MNOK 1,143.5. For an assessment of the fair value of long-term liabilities, see Notes 3 and 23. Interest-Interest-Current Non-current Interest bearing Assets held bearing Change in liabilities lease lease Totalexpenses short-term for sale* long-term liabilities liabilities debt debt At January 1, 2022 94 379 3 256 840 666 1 044 199 51 147 2 033 646Repayment of debt -89 797 -4 890 (876 124) 0 0 -970 811Interest paid -83 335 -7 674 0 0 0 0 -91 009Cash flow from financing -83 335 -97 472 -4 890 -876 124 0 0 -1 061 821Exchange rate effects 36 703 0 96 056 0 0 132 759Capitalisation costs 0 0 0 4 127 0 4 127Interest accrued but not paid 5 965 0 0 5 965Other changes 949 958 5 851 51 768 -1 005 158 2 827 5 246At December 31, 2022 989 534 4 217 112 365 43 168 53 973 1 203 258Interest-Current Interest-Non-current Interest bearing Assets held Change in liabilities lease bearing long-lease Totalexpenses short-term for sale* liabilities term debt liabilities debt At January 1, 2021 166 596 3 256 0 2 193 798 54 862 2 418 512Repayment of debt -420 514 -3 714 0 0 0 --424 228Interest paid -71 291 -8 871 0 0 0 0 -80 163Cash flow from financing -71 291 -429 386 -3 714 0 0 0 --504 392Exchange rate effects -6 635 0 0 43 611 0 36 976Capitalisation costs 0 0 0 3 557 0 3 557Interest accrued but not paid 7 674 0 0 0 0 7 674Other changes 356 129 3 714 840 666 -1 196 767 -3 714 28At December 31, 2021 94 379 3 256 840 666 1 044 199 51 147 2 033 647*Liabilities related to Assets Held for sale Covenants The majority of the Company\u2019s fleet is financed with mortgage loans, mainly fleet loans. The most important financial covenants at December 31, 2022, were: \u2022 Free liquidity of MNOK 70. \u2022 Positive working capital (current assets less current liabilities, excluding current portion of long-term debt). \u2022 Loan to value: Suspended until the end of the refinancing period. \u2022 Limitations on investments and dividends. There are also clauses related to change of control concerning the Eidesvik families. No companies in the Eidesvik Offshore Group were in breach of any covenants at December 31, 2022, or during 2022. The new refinancing On February 22, 2023, Eidesvik announced that it had agreed on a term sheet with its financial institutions for refinancing of its debt. On March 28, 2023, the final agreements and documentation were in place and the new terms for the Group\u2019s financing became effective. The new debt will mature on February 28, 2026, and hence reclassify the majority of the outstanding debt from current liabilities to non-current liabilities. Summary of the refinancing Amortization: \u2022 Facility prepayment of NOK 410 million was made on the date of signing and final documentation. \u2022 In 2023, scheduled amortization amounts to NOK 42.5 million in total for the Group. \u2022 In 2024 and 2025, scheduled amortization amounts to NOK 85.0 million in total for the Group. Cash Sweep: \u2022 No cash sweep mechanisms Financial covenants: \u2022 Minimum free liquidity of NOK 60 million. \u2022 Positive working capital (current assets less current liabilities, excluding instalments and current portion of long term debt). \u2022 Leverage ratio of 5.0 or lower in 2023, 4.0 in 2024 and 3.5 in 2025. \u2022 Equity ratio of 35% for 2023, and 40% thereafter. ",
"dimensions": {
"concept": "ifrs-full:DisclosureOfOtherNoncurrentLiabilitiesExplanatory",
"language": "en",
"entity": "scheme:5967007LIEEXZXFOMO31",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"pp-value-99-5": {
"value": "NOTE 23 - FINANCIAL INSTRUMENTS(NOK thousands) Capitalised financial assets and liabilities Capitalised value equals fair value, except for loans. For details of fair value loans, see the section on \u201cInterest\u201d below. The Group does not practise hedge accounting, financial derivatives held for financial hedging which are recorded at fair value. 31.12.2022 31.12.2021Assets Market-based shares for trading 9 9Currency derivatives 0 363Interest derivatives 62 180 17 042Accounts receivable (Note 14) 141 759 130 942Cash and cash equivalents (Note 16) 655 653 330 401Other long-term receivables, OSEV 39 769 51 178Total 899 370 529 934Liabilities Interest rate derivatives 0 6 677Loans (Note 20) 1 139 476 1 976 112Total 1 139 476 1 982 789Currency The Group has entered into currency derivative contracts as part of the management of the Group\u2019s currency exposure. The Group has no currency derivatives per December 31, 2022. At December 31, 2021 Currency sold Amount Maturity Exchange rate Fair value(average) (MTM)Currency derivatives Currency futures for the sale of current cash flow EUR 1 220 2022 10,2987 3633631 220 All currency futures are recorded at fair value. Interest The Group has the following fixed rate agreements: At December 31, 2022 Annual Fair value downscalin(incl. g before NOK accrued maturity Type Currency Floor Cap/Swap Maturity principal interest) (average) Fixed rate loan NOK 3,36 % 27.03.2024 132 329 Variable Fixed rate loan NOK 3,41 % 13.09.2024 148 146 Variable Cap NOK 1,00 % 01.07.2025 150 000 8 993 None Cap NOK 1,00 % 15.07.2025 150 000 9 092 None Cap USD 1,00 % 01.07.2025 246 433 22 154 None Cap USD 1,00 % 15.07.2025 246 433 21 942 None Unhedged 66 135 Total liabilities, hedged and 1 139 476 62 180 unhedged The Group has in Q1 2023 unwinded the two caps in USD. At December 31, 2021 Annual Fair value downscaling (incl. before NOK accrued maturity Type Currency Floor Cap/Swap Maturity principal interest) (average) Fixed rate loan NOK 3,36 % 27.03.2024 142 392 Variable Fixed rate loan NOK 3,41 % 13.09.2024 158 355 Variable Swap USD 2,36 % 21.11.2022 176 388 -3 480 None Swap USD 2,27 % 12.12.2022 176 388 -3 197 None Cap NOK 1,00 % 01.07.2025 150 000 4 376 None Cap NOK 1,00 % 15.07.2025 150 000 4 382 None Cap USD 1,00 % 01.07.2025 220 485 4 231 None Cap USD 1,00 % 15.07.2025 220 485 4 053 None Unhedged 581 620 Total liabilities, hedged and unhedged 1 976 112 10 365 At December 31, 2022, 94% (71%) of the Group\u2019s loans were at fixed interest or swap/cap. The Group has two fixed-interest loans in NOK with a maturity of 12 years originally (CIRR), which are recorded at amortised cost in the balance sheet. If these loans were to be refinanced today with a new margin and money market rate, and retained the same repayment profile, the net present value of the difference between the current interest payments and the refinanced interest payments would be MNOK -3.0 (level 2, see Note 3). If these loans were recorded at fair value, they would have been reported correspondingly lower. See Note 20 for information on long-term loans. Other information No financial assets have been reclassified such that the valuation method has been changed from amortisedcost to fair value, or vice versa. For assessment of fair value (MTM), see Note 3. ",
"dimensions": {
"concept": "ifrs-full:DisclosureOfReclassificationOfFinancialInstrumentsExplanatory",
"language": "en",
"entity": "scheme:5967007LIEEXZXFOMO31",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"pp-value-102-3": {
"value": "NOTE 24 - TRANSACTIONS WITH RELATED PARTIES (NOK thousands) The Group has some transactions with related parties, concerning crew hire, management services for vesseloperations, business and accounting services and leasing of offices. All transactions are based on the arm\u2019slength principle. 2022 2021 Lease of offices from AS Langev\u00e5g Senter -8 477 -8 277 Lease of offices to Evik AS 678 586 Lease of apartment from Evik AS -82 -79 Lease of offices to B\u00f8mmelfjord AS 773 595 Sale of other services to Eidesvik Invest AS 11 52 Lease of offices and other services to Signatur Management AS 952 800 Purchase of office services from Signatur Management AS -22 0 Lease of stockroom and other services from Klubben Eiendom AS -549 -473 Sale of office services and lease of apartment to B\u00f8mlo Skipservice AS 7 39 Purchase of technical and layup services from B\u00f8mlo Skipservice AS -6 636 -6 380 Sale of crew and management services to Eidesvik Seven Chartering AS 94 356 71 769 Sale of management services to Eidesvik Seven AS 1 420 2 793 The balance sheet includes the following amounts resulting from transactions with related parties: 31.12.2022 31.12.2021 Accounts receivable 16 019 12 485 Accounts payable -359 -1 489 Total 15 659 10 996 Shares owned/controlled by Board members/senior executives: 2022 2021 Eidesvik Invest AS (1) 37 200 000 37 200 000 John Egil Stangeland 30 000 30 000 Kristine Elisabeth Skeie 25 000 25 000 Bj\u00f8rg Marit Eknes 25 000 25 000 Gitte Gard Talmo 500 500 Lauritz Eidesvik 200 200 (1) Eidesvik Invest AS is 55%-controlled by B\u00f8mmelfjord AS, where Borgny Eidesvik holds 20% of the shares(A-shares), and Lauritz Eidesvik holds 20% of the shares (B-shares). The remaining 45% of Eidesvik Invest ASis owned by Evik AS, where Lars Eidesvik indirectly holds 20% of the shares. The Eidesvik Offshore ASA Group is a subsidiary of Eidesvik Invest AS, which is a subsidiary of the ultimateparent company B\u00f8mmelfjord AS. Remuneration to senior executives: 2022 Base salary Bonus Other Pension costs CEO Gitte Talmo 2 128 770 315 147 COO Arve Nilsen 1 350 312 215 122 CFO Helga Cotgrove 519 180 52 35 Former CEO Jan Fredrik Meling 252 0 1 493 414 Former COO Jan Lodden 1 127 0 56 62 Former CFO Tore Byberg 1 179 0 105 56 Total 2022 6 555 1 261 2 236 837 2021 Base salary Bonus Other Pension costs CEO Jan Fredrik Meling 2 224 384 137 385 COO Jan Lodden 1 730 291 108 125 CFO Tore Byberg 1 594 273 226 115 Total 2021 5 549 948 470 625 The Company has published a separate Report on Remuneration to the Board of Directors, CEO and SeniorExecutives, available for download from the Company\u2019s website. In accordance to the company renumeration policy, a bonus scheme is established for CEO and seniorexecutives. Bonus scheme is based on company targets (75%) and individual targets (25%). Maximum bonusis 35% of annual salary. The Board of Directors may temporarily deviate from any part of the guidelines ifdeemed necessary to protect the long term interest and financial capacity of the Company or safeguard theviability of the company. The CEO has a mutual notice period of 6 months and is entitled to 6 months of severance pay on certain termsper December 31, 2022. Former CEO, Jan Fredrik Meling, retired from his position on December 31, 2021. Gitte Gard Talmo replacedMeling effective from January 1, 2022. Meling has received 60% of his salary in 2022 and will also continue toreceive 60% in 2023. His pension costs has been covered by Eidesvik Offshore ASA in 2022, and will becovered in 2023 as well. COO Jan Lodden resigned from his position in June 2022. Arve Nilsen replaced Lodden effective from June 1,2022. CFO Tore Byberg resigned from his position in July 2022. Helga Cotgrove replaced Byberg effective fromSeptember 19, 2022. Remuneration of the Board 2022 2021 Arne Austreid 319 0 303 279 Borgny Eidesvik 243 236 Lars Eidesvik 243 236 John Egil Stangeland 263 246 Lauritz Eidesvik 243 236 Kristine Elisabeth Skeie 177 0 Bj\u00f8rg Marit Eknes 46 0 Johnny Olson 0 88 Petter L\u00f8nning 248 525 Kolbein Rege 126 279 Synne Syrrist 85 113 B\u00f8rre Lindanger 112 35 Tore Hettervik 2 407 2 273 The Board Remuneration Annual Change 5,57% Board remuneration is decided by the General Meeting. Disbursements for 2022 are remuneration for theprevious year, 2021. 2022 remuneration will be decided on the next Annual General Meeting. Arne Austreid, Bj\u00f8rg Marit Eknes and Tore Hettervik were, respectively, elected as chair of the board memberand employee representative for the board in 2021. Johnny Olson were, respectively, elected as employeerepresentative for the board in 2022. From AGM 2019, the employees have had one employee representative in the Board, and one deputy employeerepresentative. The total remuneration for these two representatives are equal to a original Board Member, andthe split is originally 70/30 between the two employee representatives, depending on the number of meetingsthe deputy employee representative has attended. The employee representatives rotate on a yearly basis, fromJuly to July. Nomination Committee 2022 2021 30 15 Per \u00c5ge Hauge 20 10 Ellen Hatteland* 20 10 Kjetil Eidesvik 20 10 Lauritz Eidesvik** 20 10 Kolbein Rege** * At the Annual General Meeting in 2022, Kristine Klaveness replaced Ellen Hatteland in the NominationCommittee. ** *This compensation is included in the table for remuneration of the board. Remuneration is decided by the General Meeting. Disbursements for 2022 are remuneration for the previousyear, 2021. From AGM 2020, the Nomination Committee was established. The remuneration fee for the NominationCommittee in 2021 is only for the second half of 2020. ",
"dimensions": {
"concept": "ifrs-full:DisclosureOfInformationAboutKeyManagementPersonnelExplanatory",
"language": "en",
"entity": "scheme:5967007LIEEXZXFOMO31",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"pp-value-106-2": {
"value": "NOTE 25 - LIABILITIES AND UNEXPECTED EVENTS The Company has no framework agreements or other liabilities per December 31, 2022.",
"dimensions": {
"concept": "ifrs-full:DisclosureOfCommitmentsExplanatory",
"language": "en",
"entity": "scheme:5967007LIEEXZXFOMO31",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
}
}
}