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"s6_notes__6__15": {
"value": "1. General information 1.1 REPORTING ENTITY Nekkar ASA (\u201cNekkar\u201d) is a public company incorporated and domiciled in Norway. The company is listed on the Oslo Stock Exchange where the shares are publicly traded. The registered head office is located at Lumberveien 27 in Kristiansand, Norway. As per 31 December 2023 Nekkar holds subsidiaries in Norway, USA, Singapore, India and Australia. Today, Nekkar is an industrial technology group offering impact technologies combined with high-end software solutions. The group combines 50 years\u2019 heritage from the world\u2019s number one shiplift company, Syncrolift, with new investments into sustainable, digitalised technology businesses that aim to unlock growth within ocean-based industries such as offshore energy, renewables and aquaculture. Syncrolift delivers systems, products and services to yards and naval bases within three main areas: \u2022 Shiplift and transfer systems: The company delivers complete tailored shiplift and transfer systems. The offering includes design, engineering, assembly, and installation. \u2022 FastDocking: Innovative products and solutions are designed to increase on-land productivity within docking and ship handling. \u2022 Service and upgrades: Systematic approach to help clients maintain and improve the capability and lifespan on shiplifts and transfer systems, maintenance, spare replacements and upgrades of small and larger components. The Syncrolift business has a global customer base, and its product offering addresses several core operations on yards and naval bases around the world. The shiplift products simplify the docking operations while the transfer systems secure a safe and effective infrastructure as vessels are moved by rails or wheels at the yard, enabling multiple use of the shiplift, and improved yard utilisation. Further information on the principal activities of the group is included in Note 1. 1.2 BASIS OF PREPARATION Nekkar\u2019s consolidated financial statements have been prepared in accordance with IFRS\u00ae Accounting Standards, as adopted by the European Union. Standards and interpretations effective for annual periods beginning on or after 1 January 2024 have not been applied in preparing these consolidated financial statements. The consolidated financial statements of the group for the year ended 31 December 2023 were issued by the Board of Directors on 29 April, to be approved by the annual general meeting 30 May 2024. The consolidated financial statements were prepared based on uniform accounting principles for similar transactions and events under similar circumstances. The consolidated financial statements are presented in NOK. Financial information is presented and rounded to the nearest thousands, except were stated otherwise.",
"dimensions": {
"concept": "ifrs-full:DisclosureOfGeneralInformationAboutFinancialStatementsExplanatory",
"language": "en",
"entity": "scheme:5967007LIEEXZXIFE872",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"s6_notes__6__14": {
"value": "1. General information 1.1 REPORTING ENTITY Nekkar ASA (\u201cNekkar\u201d) is a public company incorporated and domiciled in Norway. The company is listed on the Oslo Stock Exchange where the shares are publicly traded. The registered head office is located at Lumberveien 27 in Kristiansand, Norway. As per 31 December 2023 Nekkar holds subsidiaries in Norway, USA, Singapore, India and Australia. Today, Nekkar is an industrial technology group offering impact technologies combined with high-end software solutions. The group combines 50 years\u2019 heritage from the world\u2019s number one shiplift company, Syncrolift, with new investments into sustainable, digitalised technology businesses that aim to unlock growth within ocean-based industries such as offshore energy, renewables and aquaculture. Syncrolift delivers systems, products and services to yards and naval bases within three main areas: \u2022 Shiplift and transfer systems: The company delivers complete tailored shiplift and transfer systems. The offering includes design, engineering, assembly, and installation. \u2022 FastDocking: Innovative products and solutions are designed to increase on-land productivity within docking and ship handling. \u2022 Service and upgrades: Systematic approach to help clients maintain and improve the capability and lifespan on shiplifts and transfer systems, maintenance, spare replacements and upgrades of small and larger components. The Syncrolift business has a global customer base, and its product offering addresses several core operations on yards and naval bases around the world. The shiplift products simplify the docking operations while the transfer systems secure a safe and effective infrastructure as vessels are moved by rails or wheels at the yard, enabling multiple use of the shiplift, and improved yard utilisation. Further information on the principal activities of the group is included in Note 1. 1.2 BASIS OF PREPARATION Nekkar\u2019s consolidated financial statements have been prepared in accordance with IFRS\u00ae Accounting Standards, as adopted by the European Union. Standards and interpretations effective for annual periods beginning on or after 1 January 2024 have not been applied in preparing these consolidated financial statements. The consolidated financial statements of the group for the year ended 31 December 2023 were issued by the Board of Directors on 29 April, to be approved by the annual general meeting 30 May 2024. The consolidated financial statements were prepared based on uniform accounting principles for similar transactions and events under similar circumstances. The consolidated financial statements are presented in NOK. Financial information is presented and rounded to the nearest thousands, except were stated otherwise.2. Summary of material accounting policy information The accounting principles set out below have been applied consistently to all periods presented in the consolidated financial statements and have been applied consistently by group entities. 2.1 BASIC PRINCIPLES a) New accounting standards and amendments The accounting policies adopted are consistent with those of the previous financial year. b) Current versus non-current classification An asset is classified as current when it is expected to be realised or intended to be sold or consumed in the normal operating cycle, held primarily for the purpose of trading, expected to be realised within twelve months after the reporting period, or is cash or cash equivalent. All other assets are classified as non-current. A liability is classified as current when it is expected to be settled in normal operating cycle, it is held primarily for the purpose of trading, it is due to be settled within twelve months after the reporting period, or there is no unconditional right to defer the settlement of the liability for at least twelve months after the reporting period. The group classifies all other liabilities as non-current. Deferred tax assets and liabilities are classified as non-current assets and liabilities. c) Fair value measurement The group measures financial instruments, such as derivatives, at fair value, as defined in IFRS 13, at each financial position date. 2.2 BASIS FOR CONSOLIDATION a) Subsidiaries Subsidiaries are entities which Nekkar controls. Control is achieved when the group is exposed, or has rights, to variable returns from its involvement with the investee and can affect those returns through its power over the investee. Subsidiaries are consolidated from the date of acquisition, being the date on which the group obtains control, and continue to be consolidated until the date when such control ceases. In cases where Nekkar achieves control over an entity, business combinations are accounted for using the acquisition method. Non-controlling interests are presented separately as equity in the group\u2019s consolidated statement of financial position. 2.3 SEGMENT INFORMATION For management purposes, the group is organised into segments based on its products and services (business units). The Board of directors monitors the operating results of its business units separately to make decisions about resource allocation and assess performance. Segment performance is evaluated based on profit or loss in the different business units and is measured consistently with profit or loss in the consolidated financial statements. However, some of the group\u2019s financing connected to group cash pool (including finance costs and finance income) is managed at group level and is not allocated to operating segments. Group support functions from the parent company along with Aquaculture and Renewables are presented as \u201cOther\u201d. Refer to Note 1 for further details. 2.4 FOREIGN CURRENCIES a) Functional and presentation currencies The financial statements of the individual entities in the group are measured in the currency primarily used in the economic area where the unit operates (functional currency). The consolidated financial statements are presented in Norwegian kroner (NOK), which is the functional and presentation currency of the parent company, and the presentation currency of the group. b) Transactions and assets and liabilities Transactions in foreign currencies are translated into the functional currency using the currency spot rates at the time of recognition. Foreign currency gains and losses that arise from the payment of such transactions, and the currency conversion effect from monetary items (assets and liabilities) nominated in foreign currencies, which are valued at the currency spot rates at the reporting date, are recognised in profit and loss. Non-monetary items measured at historical cost in foreign currency are translated into functional currency using the exchange rates as at the dates of the initial transaction. c) Group companies On consolidation, the assets and liabilities of foreign operations are converted into NOK at the rate of exchange prevailing at the reporting date and their income statements are translated at average exchange rates. Currency effects derived from consolidation are recognised in other comprehensive income. On disposal of a foreign operation, the component of other comprehensive income relating to the specific foreign operation is reclassified to profit or loss. 2.5 PROPERTY, PLANT AND EQUIPMENT Property, plant and equipment are recognised in the financial statements at cost less accumulated depreciation and accumulated impairment. Cost includes the costs directly related to the acquisition of the fixed asset. Subsequent expenditures are capitalised when it is likely that the group will receive future economic benefits from the expenditure, and the expenditure can be measured reliably. Other repair and maintenance costs are recognised in profit or loss in the period when the expenses are incurred. Property, plant and equipment are depreciated based on the straight-line method. Historical cost of the fixed asset is depreciated to the residual value over expected useful life, which is: \u2022 Machinery and vehicles 3-5 years\u2022 Fixtures/office equipment 5-10 years \u2022 Computer equipment 3-5 years Indicators related to possible impairment requirements are monitored continuously. If the carrying value of the fixed asset is higher than the estimated recoverable amount, the value is impaired to a recoverable amount. Gains and losses from disposal of assets are recognised in profit or loss and represent the difference between the sales price and the carrying value. Depreciation methods, useful lives and residual values are assessed at the reporting date and adjusted when required. 2.6 INTANGIBLE ASSETS Intangible assets that have been acquired separately are measured on initial recognition at cost. The cost of intangible assets acquired through a business combination is their fair value at the date of acquisition. Capitalised intangible assets are recognised at a cost less than any amortisation and impairment losses. Internally generated intangible assets are recognised as capitalised development costs. Intangible assets are written down and adjustment is made to amoritsation if the asset has been impaired Customer relationships and customer portfolio Customer relationships and customer portfolios are established through contracts with customers. Customer relationships and customer portfolio acquired through a business combination are recognised as an asset based on their fair value at the acquisition date. The customer relationship and customer portfolios have limited useful life and are amortised using the straight-line method over their expected useful life (15 to 20 years). Patents and licenses Patents and licenses have limited useful life and are recorded at historical cost in the balance sheet less depreciation. Patents and technology are amortised using the straight-line method over their expected useful life (2 to 15 years). Development Research costs are expensed as incurred. Development activities include design or planning of production of new or significantly improved products and processes. Development costs associated with development of new products are capitalised to the extent that they can be reliably measured, the product or process is technically, or commercially feasible, future financial benefits are likely, and the group intends and has sufficient resources to complete the development, and to sell or use the asset. Capitalised development costs include materials, direct labor, directly attributable overheads and capitalised borrowing costs. Development costs are depreciated over their expected useful life (2 to 15 years). Public grants related to capitalised development projects are recognised as a reduction of capitalised costs. Government grants Government grants are recognised when it is reasonably certain that the company will meet the conditions stipulated for the grants and that the grants will be received. Tax credits related to development projects are classified as government grants if they ultimately are settled with cash. Grants relating to intangible assets are deducted from the carrying amount of the asset and recognised in profit or loss as a reduction of the depreciation charge over the lifetime of the assets. 2.7 BUSINESS COMBINATIONS AND GOODWILL When acquiring a business, financial assets and liabilities are recognised at fair value in the opening group balance. The consideration paid in a business combination is measured at fair value at the acquisition date. The initial accounting for a business combination can be changed if new information about the fair value at the acquisition date is present. The allocation can be amended within 12 months of the acquisition date if the initial accounting at the acquisition date was determined provisionally. The non-controlling interest is measured at fair value. Goodwill is initially measured at cost, being the excess of the aggregate of the consideration transferred and the amount recognised for non-controlling interests, and any previous interest held, over the net identifiable assets acquired and liabilities assumed. After initial recognition, goodwill is measured at cost less than any accumulated impairment losses. For impairment testing, goodwill acquired in a business combination is, from the acquisition date, allocated to each of the group\u2019s cash-generating units that are expected to benefit from the combination, irrespective of whether other assets or liabilities of the acquire are assigned to those units. Subsidiaries Subsidiaries encompass all entities over which the group wields control. Control is typically deemed to be present when the group holds more than 50 percent of the voting shares. Associated companies Associated companies are entities where the Group has significant influence, but not control. Significant influence is assumed to exist when the Group has between 20 percent to 50 percent of the voting rights in a company. The consolidated financial statements include the Group\u2019s share of the profits/losses from associated companies are accounted for using the equity method, from the date significant influence was achieved. 2.8 FINANCIAL INSTRUMENTS With the exception of forward FX contracts (see 2.9), all financial assets are classified as financial assets measured at amortised cost. Trade receivable Accounts receivables are recognised at transaction price. For subsequent measurement the transaction price is not adjusted for significant financing component as customer payment for good or service is expected within a year or less. Expected credit loss is passed on both macro-economic and entity specific factors. The group engage in further judgement for trade receivables not paid when due. The group do not use a provision matrix as allowed under IFRS 9. Contract assets (accrued not invoiced production) Contract assets, which mainly satisfy performance obligations not yet invoiced, is recognised with the estimated considerations according to IFRS 15 for the work performed. Contract assets are subject to impairment testing in the same manner as trade receivables. Recognition and measurement of financial liabilities All financial liabilities in the group are classified as financial liabilities as subsequently measured at amortised cost unless the financial liabilities are derivatives or financial liabilities held for trading, which are classified and measured at fair value. In subsequent periods, financial instruments are measured in accordance with classifications described above. 2.9 DERIVATIVE FINANCIAL INSTRUMENTS AND HEDGE ACCOUNTING The group is exposed to fluctuations in foreign exchange rates which may affect the operating results. The group utilises hedging contractual income and costs in a foreign currency. Fair value hedging The group uses financial derivatives to hedge foreign currency risk. Derivatives are recognised initially at fair value and are subsequently re-measured at fair value. Attributable transaction costs are recognised in the profit or loss when they incur. The hedge does not fulfill the criteria for hedge accounting, the derivative is carried at fair value through profit and loss as financial income/loss. 2.10 LEASES IFRS 16 sets out the principles for the recognition, measurement, presentation and disclosure of leases. At the commencement date of a lease, a lessee will have to recognise a liability based on future lease payments and an asset representing the right to use the underlying asset during the lease term (\u201cRight-of-use assets\u201d). Further, the lessee will be required to separately recognise the interest expense on the lease liability and the deprecation expense of the right-of-use asset. Nekkar has applied the following practical expedients: \u2022 Exemption for short-term leases (defined as 12 months or less) \u2022 Exemption for leases of low value assets 2.11 INVENTORIES Inventories are valued at the lower cost and net realisable value. The cost is calculated by means of the first-in, first-out principle (FIFO). For finished goods and work in progress (for project in which revenue recognition is \u201cpoint-in-time\u201d), the cost consists of product design expenses, consumption of materials, direct labor costs, other direct costs, and indirect production costs (based on a normal capacity level). Net realisable value is the estimated selling price in the ordinary course of business, less the estimated cost of completion and estimated costs necessary to make the sale.2.12 CASH AND CASH EQUIVALENTS Cash and cash equivalents consist of bank deposits. Withdrawals from the bank overdraft constitute part of current liabilities. Deposits and overdrafts are presented as net if the bank has a legal/contractual right to offset the deposits and liabilities. The group has a cash pool arrangement where Nekkar is the primary agreement holder. Cash positions on bank accounts with different currencies are presented as net in the consolidated financial statement. 2.13 FINANCIAL LIABILITIES Non-derivative financial liabilities are initially recognised at fair value plus directly attributable transaction costs. After initial recognition, liabilities are measured at amortised costs using the effective interest method. Loans are classified as current liabilities unless there is an unconditional right to postpone payment of the debt by more than 12 months from the date of the balance sheet. The following year\u2019s payment is classified as short-term debt. The group derecognises financial liability when the contractual obligations are satisfied or cancelled. 2.14 TAXES Tax in the profit and loss accounts comprise both tax payable for the period and change in deferred tax. Tax payable for the period and deferred tax are recognised in profit or loss, except tax on items related to business combinations or taxes recognized directly in equity or comprehensive income. Deferred tax assets and deferred tax liabilities are offset if a legally enforceable right exists to set off current tax assets against current income tax liabilities and the deferred taxes relate to the same taxable entity and the same taxation authority. Deferred tax assets are recognised when it is convincing evidence that the company will have a sufficient profit for tax purposes in subsequent periods to utilise the tax asset. The group includes the possibility of tax planning through group contribution as part of the assessment of convincing evidence. The group only recognised deferred tax assets which can be utilised in five years as the subsequent period is considered too uncertain. Deferred tax assets or liability is measured using tax rates and tax laws enacted or substantially enacted on the balance sheet date, and which presumably may be utilised when the deferred tax advantage is realised or when the deferred tax is settled. 2.15 PENSION OBLIGATIONS, BONUS SCHEMES AND OTHER COMPENSATION SCHEMES FOR EMPLOYEES a) Pension obligations The companies in the group have various pension plans. The pension plans are in general financed by payments to insurance companies or pension funds. As of 31 December 2023, Nekkar has only defined contribution plans. 2.16 REVENUE RECOGNITION A five-step process is applied before revenue can be recognised; 1. Identify the contract 2. Identify the performance obligations in the contract 3. Determine the transaction price 4. Allocate the transaction price to performance obligations 5. Recognised revenue as performance obligation is satisfied During the application process, steps 2 and 5 were the most complex due to the contract structure within Nekkar. Below are further details on the 5-step model, focusing on step 2 and 5. 1. Identification of contract The group\u2019s revenue derives from contracts with customers in one of the following revenue streams; a. Long-term construction contracts (engineer-to-order) b. Service contracts c. After sales All these revenue streams are based on a contract with the customer. 2. Identification of performance obligations Due to contract structure, there are differences within the contracts regarding identifying performance obligations. The review has shown; The deliveries in contracts are reviewed to identify if there are distinct performance obligations. Contracts held within continued business ordinarily represent one performance obligation, ref section 5 below. It could be argued that there could be more than one performance obligation in some of the contracts, but those potential additional performance obligations identified have been assessed immaterially. 3. Transaction price Revenue from construction contracts includes original contract amount and approved variation orders. For contracts where multiple performance obligations are identified, a stand-alone selling price is identified to each of the performance obligations. Potential liquidated damages are recognised as a reduction of the transaction price unless it is highly probable that they will not be incurred. Beyond this there are only immaterial variable considerations. 4. Allocation of transaction price to performance obligation Based on the extensive review of contracts upon the implementation of IFRS 15, the following has been identified; Contracts represent one performance obligation, hence allocation of transaction price to performance obligation is 1:1. 5. Revenue recognition as performance obligation is satisfied Revenue is measured based on the consideration specified in a contract with a customer. The group recognises revenue when it transfers control over a good or service to a customer. The following table provides information about the nature and timing of the satisfaction of performance obligations in contracts with customers, and the related revenue recognition policies. Nature and timing of satisfaction of Type of contract performance obligation Revenue recognition under IFRS 15 Construction Long-term construction contracts with After a thorough analysis of the criteria for \u201cover contracts a typical duration of 18-48 months from time\u201d revenue recognition the main issue relating contracts are signed, to the projects are to timing of revenue recognition was Nekkar\u2019s (Engineer-to-closed. These projects are engineer-to-order enforceable right to payment for the performance order) projects, which deliver highly customised completed to date in a situation with termination turnkey systems for shipyards around the by the customer for other reasons than Nekkar\u2019s world. The projects are highly specialised failure to perform as promised (termination by systems for each individual project, with no convenience). alternative use for the company, and where each project is considered one performance Nekkar has assessed the right to payment to obligation. date from a legal point of view. The result of the contract review is that the relevant contract either For the performance obligations identified in includes a termination by convenience clause the contracts, it is assessed that control will be that is in favor of the group, or that general legal transferred to the customer over time as the basis in the relevant jurisdiction is in favor of the items are constructed. group, thus Nekkar have the legal right to require payment from the customer for performance to date. Payment covers approximately the expected selling price of the goods and services transferred to date, which equals cost plus a reasonable profit margin. Based on this it is the company\u2019s assessment that revenue recognition over time is correct for these contracts. In addition, there is no alternative use. Measure of progress is based on cost incurred relative to the total expected cost to satisfy the performance obligation. Upgrade contracts Long-term upgrade contracts with a typical The analysis of the criteria for \u201cover time\u201d revenue (Engineer-to-duration of 12-24 months from contracts are recognition for these types of contracts is linked order) signed, to the projects are closed. These to Nekkar\u2019s performance enhancing an asset that projects are engineer-to-order projects, the customer controls as the asset is enhanced or which deliver upgrades of existing shiplift upgraded. systems with highly customised turnkey systems for shipyards around the world. The Nekkar has assessed that the customer controls projects are highly specialised systems for the asset throughout the upgrade. The asset each individual project, with no alternative use is in operation throughout most of the project for the company, that the customer controls phase and all installation will happen on throughout the project phase and where customer premises. As such the customer have each project is considered one performance physical control of the asset including control obligation. over functional and operational structures. Legal ownership of the work performed is also For the performance obligations identified in transferred to the customer as the work is carried the contracts, it is assessed that control will be out. Based on this it is the company\u2019s assessment, transferred to the customer over time as the that revenue recognition over time is correct for items are constructed. these contracts. Measure of progress is based on cost incurred relative to the total expected cost to satisfy the performance obligation.Nature and timing of satisfaction of Type of contract performance obligation Revenue recognition under IFRS 15 Construction The company delivers service-based business, Revenue from contracts with customers for contracts where work is done on the customers\u2019 other services is recognised over-time using a (Alternative user) equipment. These deliveries are man-hour cost progress method or is recognized over-time based and considered over-time deliveries. as manhours and materials are delivered to the Spare parts as part of the service delivery customer. are recognised upon delivery. The lead time from order to completed customer delivery is Revenue from contracts with customers for normally less than three months. after sales are recognised at point-in-time upon delivery. For after-sales contracts, in which there is sale of components etc, revenue is recognised upon delivery.2.17 CONTRACT COSTS For revenue where performance obligations are satisfied over time, which is the primary source of revenue at the group, all cost are recognised as expensed when incurred because control of the work in progress transfers continuously to the customer as it is produced and not at discrete intervals. For contracts where performance obligations are satisfied at a point in time, IAS 2, Inventory, sets up the accounting. Cost to obtain a contract are immaterial for the group and expensed when incurred. Balance sheet classification For contracts recognised \u201cover-time\u201d, an amount equal to completed, not invoiced, performance obligations based on transaction price are recognised as contract asset, while prepayments from customers are recognised as contract liability. For contracts where there is both a contract asset and a contract liability, it is presented as net in the consolidated statement of financial position. Onerous contracts The full loss is recognised immediately if contracts are forecast to be lossmaking. The full loss includes all relevant contract costs.Cost presented as Material, goods and services are cost related to projects and consist mainly of sub suppliers in long term projects2.18 IMPAIRMENT OF ASSETS Non-financial assets At the reporting date, the group assesses whether there are indications that an asset may be impaired. If any indication exists, or when annual impairment testing for an asset is required, the group estimates the asset\u2019s recoverable amount. For goodwill and intangible assets not yet available for use, or with an indeterminable useful life, the recoverable amount is estimated at the same time each year. An asset\u2019s recoverable amount is the higher of an assets or cash-generating unit\u2019s (CGU) fair value less costs of disposal and its value in use. A recoverable amount is determined for an individual asset, unless the asset does not generate cash inflows that are largely independent of those from other assets or groups of assets. When the carrying amount of an asset or CGU exceeds its recoverable amount, the asset is considered impaired and is written down to its recoverable amount. In the assessment of value in use, the estimated future cash flow is discounted to net present value, with a pretax market-based discount rate. The rate considers the time value of money and asset-specific risk. With the purpose of testing for impairment, assets that have not been tested individually are grouped in the smallest identifiable group of assets that generate incoming cash flow which in all material aspects is independent of incoming cash flows from other assets or group of assets (cash generating units or CGU). Impairment is determined for goodwill by assessing the recoverable amount of each CGU (or group of CGUs) to which the goodwill relates. Impairment losses relating to goodwill cannot be reversed in future periods. For other assets, an assessment is made on each reporting date whether there are indications that previously recognised impairment losses no longer exist or have decreased. A previously recognised impairment loss is reversed only if there has been a change in the assumptions used to determine the asset\u2019s recoverable amount since the last impairment loss was recognised. The reversal is limited so that the carrying amount of the asset does not exceed its recoverable amount, nor exceed the carrying amount that would have been determined, net of depreciation, had no impairment loss been recognised for the asset in prior years. 2.19 CASH FLOW STATEMENT The cash flow statement has been prepared based on the indirect method. 2.20 EARNINGS PER SHARE The basic earnings per share and diluted earnings per share are presented for ordinary shares. The basic earnings per share are calculated by dividing the period\u2019s earnings attributable to owners of the ordinary shares adjusted for the number of own shares. Diluted earnings per share are calculated by adjusting the earnings and the weighted average number of ordinary outstanding shares, adjusted for the number of own shares, for potential dilution effects. 2.21 FINANCIAL INCOME AND COST Financial income consists of capital gains on financial investments and changes to fair value of financial assets to fair value in profit and loss. Interest income is recognised in profit and loss using the effective interest method. Financial costs comprise interest costs on loans, the effect of interest in discounted accruals, changes to the fair value of financial assets to fair value in profit and loss, and impairment of financial assets. Borrowing costs not directly attributable to acquisition, processing or production of a qualifying asset, are included in profit and loss using the effective interest rate method. Foreign currency gains and losses are reported as net. 2.22 EQUITY Transaction costs directly related to an equity transaction are recognised directly in equity after deducting tax expenses. 2.23 CONTINGENT LIABILITIES AND ASSETS Contingent liabilities are not recognized in financial statements. Significant contingent liabilities are disclosed, except for contingent liabilities that are unlikely to be incurred. Liabilities are recognised unless a reliable estimate can not be made. If no reliable estimate can be made, the group accounts for the liability as a contingent liability.3. Financial risk management 3.1 FINANCIAL RISK FACTORS The group\u2019s activities entail various types of financial risk; market risk (including currency risk and interest rate risk), credit risk, liquidity risk and operational risk. The Board of Directors has the primary responsibility for establishing and supervising the group\u2019s framework for risk management. Risk management principles were established to identify and analyse the risk to which the group is exposed. Principles and systems for risk management are regularly reviewed to reflect any changes in activities and market conditions. The audit committee reviews management\u2019s monitoring of the group\u2019s principles and procedures for risk management. The group\u2019s main risk management plan focuses on the unpredictability of the capital market and attempts to minimise its potentially negative effects on the group\u2019s financial results. The group engages in international operations and is especially exposed to currency risk. The group uses hedging to reduce the risk of currency exposure. The group has a decentralised structure with operational supervision of the various business units, where the main management of financial risk is determined by the Board of Directors. This applies to areas such as currency risk, interest rate risk, credit risk and use of financial derivatives. For the classification of financial assets and liabilities, reference is made to Note 19. MARKET RISK Market risk is the risk of changes to market prices, such as foreign exchange rates interest and commodities, affecting the income or value of financial instruments. Management of market risk intends to monitor that risk exposure lies within a set framework. The companies of the group buy and sell financial derivatives and incur financial obligations to control market risk. Transactions are carried out within the guidelines issued by the group. Hedge accounting is used for FX contracts that qualify for hedge accounting. The remaining contracts are measured at fair value through profit and loss. There are a number of risks related to the market development for Nekkar\u2019s products and services. Nekkar monitors these risks through its sales network and by monitoring relevant available information on trends like shipyard utilisation indicators, investment trends and oil prices. Within Syncrolift AS, the order backlog is strong and represents a solid operational foundation for the coming periods. Future demand for the current product portfolio depends on the shipyards\u2019 need to implement more efficient production lines. Currently, there are no signs that the yard industry\u2019s focus on restructuring and increased productivity will diminish. From the volume of identified prospects, we expect there is potential for further growth in the segment. Renewables and aquaculture are still product development projects. For these business areas the risk factors mainly relate to commercialisation of the products and solutions. Intellilift has a proven commercialised technology and the products have been sold to both oil-gas related business and wind industry. However, a potential downturn in the oil-gas market may impact the market outlook for some of these products. Further description of the group\u2019s market risk can be found in the Directors\u2019 report. a) Currency risk The group operates worldwide and is exposed to currency risk in foreign currencies. Exposure to the risk in foreign exchange rates relates primarily to the group\u2019s operating activities (when revenue or expense is denominated in foreign currencies). The group manages its foreign currency risk by hedging the net exposure in foreign currencies, which is mainly USD and EUR. Currency cash flow forecasts are reviewed on a regular basis and the group aims to hedge a portion of the forecasted net currency exposure that matures within a 24-months period. Forward exchange contracts are used as hedging instruments, and they are designated as hedges of firm commitments for those hedging relationships that qualify for hedge accounting. When necessary, forward exchange contracts are prolonged as they mature. A 10 percent fluctuation in the USD/NOK and EUR/NOK rate compared to the 2023 average would have impacted 2023 operating profit by around NOK 15 million and NOK 2 million respectively. Due to Nekkar\u2019s hedging policy, much of this impact would have been offset, as changes in the fair value of hedging instruments would be recognised as financial income or expense.On 31 December 2023 the Group has accounts receivables, contract assets and accounts payable in addition to FX derivatives. The net effect on this items in not considered to be significant due to the hedging instruments.For other monetary assets and obligations in foreign currency, net exposure is monitored, and is adjusted by purchasing and selling foreign currency when necessary. The group has insignificant investments in foreign subsidiaries where net assets are exposed to currency risk at conversion of currency. b) Interest rate risk Interest rate risk is the risk that the fair value or future cash flows of a financial instrument will fluctuate because of changes in market interest rates. As per 31 December 2023, the group does not have any interest-bearing debt, hence no material exposure to the risk of changes in market interest rates. The group\u2019s surplus liquidity is in the form of bank deposits. Any divergence from the use of a floating rate of interest and placement of surplus liquidity shall be determined by the Board of Directors. Items exposed to interest rate risk are mainly related to bank deposits and undrawn credit facilities. c) Price risk The group is exposed to fluctuations in market prices in the operational areas related to contracts, including changes in market prices for raw materials and equipment and development in wages. These risks are to the extent possible managed in the bid processes by locking in committed prices from vendors as a basis for offers to customers, or by striving to place purchase orders to vendors as soon as possible after contract signing or through escalation clauses with customers. Furthermore, the majority of Nekkar\u2019s long-term service contracts with customers have built-in clauses that ensure annual inflation adjustments that correspond to recognised consumer price indices or similar. Nekkar also has internal processes in place to effectively manage price risk, including mandatory internal controls and safeguarding processes for tenders and contracts. CREDIT RISK Credit risk is the risk that a counterparty will not meet its obligations under a financial instrument or customer contract, leading to a financial loss. The group is exposed to credit risk from its operating activities (primarily for trade receivables and contract assets) and from its financing activities, including deposits with bank and financial institutions, foreign exchange transactions and other financial instruments. Credit risk is handled at a corporate level. The credit risk is reduced through distribution on several counterparts. Requirements to credit ratings have been established toward counterparts, and new customers are subject to credit rating test. In order to minimise the risk of losses the group applies comprehensive use of Letters of Credit toward its customers. The group carries out assessment of credit risk to the political structure depending on the economic importance of the agreements based on assessments from the OECD and other equivalent factors. Maximum risk exposure is represented by the extent of financial assets recognised in the balance sheet. Please find additional information in Note 19. The counterparties for derivatives and bank deposits are investment grade rated banks (Nordea and DNB), and the credit risk related to these are considered insignificant. As of 31.12, the group had the following maturity distribution on its trade receivables: 0-3 3-6 >6 (NOK Not months months months 1000) Totaldueoverdueoverdueoverdue31.12.2023 85 269 - 407 62 583 5 983 18 11031.12.2022 106 875 28 488 56 321 -1 248 23 314For accounts receivable that are not yet due, the assessment is, based on previous experience, that there is no need to impair the value. Accounts receivable relate to independent customers who have no previous history of failing to fulfill their obligations to the group. Invoicing is largely done in accordance with milestone-based progress in each project. The above table is presented net of bad debt provisions. As per 31 December 2023, a provision NOK 19 million is included due to uncertainty for payment in two projects. Hence, the gross amount of accounts receivables > 6 months overdue is NOK 37 million. The change in provision for bad debt in 2023 of NOK 6,68 million is recognised as other operational expenses and relates to claim in note 23. The Group has experienced solely historical non-material losses and does not acknowledge any Expected Credit Losses (ECL) beyond those associated with the two aforementioned projects.Additional information on accounts receivable is available in Note 9. LIQUIDITY RISK Liquidity risk is the risk of the group being unable to fulfill its financial obligations as they fall due. Liquidity risk management implies maintaining Remaining period: Amounts in NOK 1000 < 6 months 6-12 months 3-5 years > 5 years Total2023Long-term financial obligations: Interest-bearing non-current liabilities - - - - -Current financial obligations: - - - - -FX-derivatives - - - - -Accounts payable and other current liabilities 103 542 - - - 103 542Total financial obligations 103 542 - - - 103 5422022Long-term financial obligations: Interest-bearing non-current liabilities - - - - -Current financial obligations: - - - - -FX-derivatives 3 988 - 3 208 - 7 196Accounts pauable and other current liabilities 101 841 - - - 101 841Total financial obligations 105 829 - 3 208 - 109 037Total financial obligations exclude both current and non-current lease liabilitiessufficient cash and committed credit facilities for the group to meet obligations as they mature for payment. As of 31 December 2023, the group\u2019s credit facilities include a guarantee and derivatives facility of NOK 350 million, an overdraft facility of NOK 100 million and a revolving credit facility of NOK 100 million. All facilities are with Nordea. As per 31 December 2023, the group had drawn NOK 164 million of the guarantee facility. No amount has been drawn on the overdraft and the revolving credit facility. The group is continuously focusing on efficient management of working capital to optimise cash flow from operations. The group has established a joint cash pool arrangement. The cash pool arrangement improves accessibility and flexibility in the management of liquidity funds. The group\u2019s liquidity development is continuously monitored based on liquidity forecasts from the business units. The group\u2019s strategy is always to have sufficient cash reserves or credit facilities available to be able to finance its operations and investments.The table below gives an overview of the structure of maturity of the group\u2019s financial obligations. Current and non current lease liabilities are not included. CLIMATE RISK Nekkar develops digitalised impact technologies that aim to unlock customer value, including reduction of environmental footprint and CO2-emissions, in numerous industries including renewables, aquaculture, shipping and offshore energy. As such, climate change represents both a risk and an opportunity for Nekkar. Nekkar considers its main climate risks to be associated with the global ambition/implementation gap for the transition to more renewable energy, as well as climate policy and taxation changes that could limit or delay the adoption of Nekkar\u2019s new technologies that are enablers to reduce the carbon footprint in the industries the company operates. This applies to both the renewables and aquaculture industries. Nekkar\u2019s exposure to the oil and gas industry is limited today but could grow in the coming years. The offshore energy industry has been identified as high risk by the Task Force on Climate-Related Financial Disclosures, and the industry is under pressure to reduce its emissions. Although the Ukraine war and associated energy shortage in Europe is likely to result in heavy investments in the offshore energy industry in the coming years, there is a long-term risk of declining investment in upstream oil and gas. However, the software and technologies that Nekkar delivers are capable of significantly reducing drilling time and amount of personnel required offshore, thereby substantially reducing the carbon footprint associated with this type of offshore operations. As such, climate-related risks also represent an opportunity for Nekkar. The energy transition may shorten the expected useful lives of oil and gas-related assets, which can accelerate depreciation charges. However, Nekkar is primarily a software supplier to the oil and gas industry, which means that the company does not expect assessment of the effect on useful lives to have significant accounting impact. Another climate risk is the increase in the frequency and intensity of extreme weather events. As the large majority of Nekkar\u2019s operations in based in Norway, this expectation is not assessed to lead to any effects on expected useful economic life of property, plant and equipment. However, extreme weather could result in delayed project progress, for example for installation of shiplifts in parts of the world that are more exposed to extreme weather. This could potentially mean that revenue and margin recognition could be delayed in such projects. Nekkar has not experienced any delays caused by extreme weather events during 2023. Overall, it is Nekkar\u2019s view that the company is well positioned to profit from a stronger focus on reducing emissions from the industries the company operates within, and that there are more positive business opportunities than negative risks associated with stronger industry efforts on reducing emissions and combating climate change. Nekkar has considered the impact of climate change on going concern. Effective assessment and analysis of climate-related risks and opportunities is vital to understand the potential impacts of climate-related risks on asset valuations, revenue and investment requirements. For 2023, Nekkar has therefore defined an objective to conduct a detailed climate risk analysis and set carbon footprint reduction goals for the company. OPERATIONAL RISK Operational risk is the risk of direct or indirect losses because of a whole range of causes related to the group\u2019s processes, personnel, technology and infrastructure, as well as external factors besides of credit risk, market risk and liquidity risk that follow from laws, rules and generally accepted principles for business conduct. Operational risk arises in all the group\u2019s business areas. The group\u2019s deliveries are primarily organised in the form of projects. The group continuously strives to improve operations and projects implementation. This further includes operational and financial qualification of major sub-suppliers to reduce project completion risk. The group handles operational risk so that a balance is reached between avoiding economic loss or damage to the group\u2019s reputation, general cost effectiveness, and avoiding control routines that limit initiative and creativity. The responsibility to develop and implement controls designed to handle operational risk is allocated to the top management within each business area. This responsibility is supported by developing the overall group standard for management of operational risk in various areas. 3.2 ESTIMATION OF FAIR VALUE The fair value of financial instruments traded in an active market is based on the market value on the balance sheet date. The group has no such items in the financial statement. Fair value of financial instruments not traded in an active market is estimated using valuation techniques (primarily discounted future prospective cash flows) or other relevant information for giving a best estimate of fair value on the balance sheet date. Examples of this are forward contracts in foreign currencies where fair value is calculated by using the change in the currency on the balance sheet date. Fair value of drawings/technology acquired in a business combination is determined using the relief of royalty method. The valuation is based on the concept that if the company owns a technology, it does not have to rent, and is then relieved from paying a royalty. The fair value of other intangible assets is based on the discounted cash flows expected to be derived from the use and eventual sale of the assets.4. Use of judgement and estimates The key assumptions concerning the future and other key sources of estimation uncertainty at the reporting date, that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year, are described below. The group based its assumptions and estimates on parameters available when the consolidated financial statements were prepared. Existing circumstances and assumptions about future developments, however, may change due to market changes or circumstances arising beyond the control of the group. Such changes are reflected in the assumptions when they occur. In preparing these consolidated financial statements, management has made judgements, estimates and assumptions that affect the reported amounts of assets, liabilities, income and expenses. Actual results may differ from these estimates. Estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to estimates are recognised prospectively. a) Judgements Information about judgements made in applying accounting policies that have the most significant effects on the amounts recognized in the consolidated financial statements is included below and in respective notes: Revenue recognition - Right to payment (IFRS 15): For contracts with no termination for convenience clause, the group\u2019s enforceable right to payment is subject to general law in the relevant jurisdiction. In most cases with termination, the group is responsible for mitigating the customer\u2019s losses by maximising revenue from alternative sources. Based on historic numbers and current estimates, alternative revenue sources are considered insignificant. Consequently, the major portion of a contract\u2019s value and company profit will be compensated by the initial contract holder. The estimation of total contract costs involves judgment and is susceptible to change. These cost estimates wield significant influence on revenue recognition, especially in contracts utilising cost progress, such as lump sum construction contracts. The accurate forecasting of total project costs hinges on several factors, including the effective execution of the engineering and design phase, availability of skilled resources, manufacturing capacity, productivity and quality considerations, subcontractor performance, and occasionally, weather conditions.b) Assumptions and estimation uncertainties Information about assumptions and estimation uncertainties that have a risk of resulting in a material adjustment to the carrying amounts of assets and liabilities within the year ending 31 December 2023 is included below and in respective notes: Warranty liability: The group customarily offers a warranty period of one or three years on its delivered products. Management estimates accruals for future guaranteed commitments based on information from historical guaranteed claims, together with updated information of the quality of recent deliveries. Factors that may affect estimated obligations include the outcome of productivity and quality initiatives, reference prices and labor costs.",
"dimensions": {
"concept": "ifrs-full:DisclosureOfMaterialAccountingPolicyInformationExplanatory",
"language": "en",
"entity": "scheme:5967007LIEEXZXIFE872",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"s6_notes__6__7": {
"value": "Nekkar ASA",
"dimensions": {
"concept": "ifrs-full:NameOfUltimateParentOfGroup",
"language": "en",
"entity": "scheme:5967007LIEEXZXIFE872",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"s6_notes__6__6": {
"value": "Nekkar ASA",
"dimensions": {
"concept": "ifrs-full:NameOfParentEntity",
"language": "en",
"entity": "scheme:5967007LIEEXZXIFE872",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"s6_notes__6__5": {
"value": "Nekkar ASA",
"dimensions": {
"concept": "ifrs-full:NameOfReportingEntityOrOtherMeansOfIdentification",
"language": "en",
"entity": "scheme:5967007LIEEXZXIFE872",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"s6_notes__6__8": {
"value": "ASA",
"dimensions": {
"concept": "ifrs-full:LegalFormOfEntity",
"language": "en",
"entity": "scheme:5967007LIEEXZXIFE872",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"s6_notes__6__12": {
"value": "Norway",
"dimensions": {
"concept": "ifrs-full:PrincipalPlaceOfBusiness",
"language": "en",
"entity": "scheme:5967007LIEEXZXIFE872",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"s6_notes__6__11": {
"value": "Norway",
"dimensions": {
"concept": "ifrs-full:DomicileOfEntity",
"language": "en",
"entity": "scheme:5967007LIEEXZXIFE872",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"s6_notes__6__10": {
"value": "Norway",
"dimensions": {
"concept": "ifrs-full:CountryOfIncorporation",
"language": "en",
"entity": "scheme:5967007LIEEXZXIFE872",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"s6_notes__6__9": {
"value": "Lumberveien 27 in Kristiansand, Norway",
"dimensions": {
"concept": "ifrs-full:AddressOfRegisteredOfficeOfEntity",
"language": "en",
"entity": "scheme:5967007LIEEXZXIFE872",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"s6_notes__6__13": {
"value": "Nekkar is an industrial technology group offering impact technologies combined with high-end software solutions. The group combines 50 years\u2019 heritage from the world\u2019s number one shiplift company, Syncrolift, with new investments into sustainable, digitalised technology businesses that aim to unlock growth within ocean-based industries such as offshore energy, renewables and aquaculture.",
"dimensions": {
"concept": "ifrs-full:DescriptionOfNatureOfEntitysOperationsAndPrincipalActivities",
"language": "en",
"entity": "scheme:5967007LIEEXZXIFE872",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"s6_notes__6__18": {
"value": "1.2 BASIS OF PREPARATION Nekkar\u2019s consolidated financial statements have been prepared in accordance with IFRS\u00ae Accounting Standards, as adopted by the European Union. Standards and interpretations effective for annual periods beginning on or after 1 January 2024 have not been applied in preparing these consolidated financial statements. The consolidated financial statements of the group for the year ended 31 December 2023 were issued by the Board of Directors on 29 April, to be approved by the annual general meeting 30 May 2024. The consolidated financial statements were prepared based on uniform accounting principles for similar transactions and events under similar circumstances. The consolidated financial statements are presented in NOK. Financial information is presented and rounded to the nearest thousands, except were stated otherwise.",
"dimensions": {
"concept": "ifrs-full:DisclosureOfAuthorisationOfFinancialStatementsExplanatory",
"language": "en",
"entity": "scheme:5967007LIEEXZXIFE872",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"s6_notes__6__17": {
"value": "1.2 BASIS OF PREPARATION Nekkar\u2019s consolidated financial statements have been prepared in accordance with IFRS\u00ae Accounting Standards, as adopted by the European Union. Standards and interpretations effective for annual periods beginning on or after 1 January 2024 have not been applied in preparing these consolidated financial statements. The consolidated financial statements of the group for the year ended 31 December 2023 were issued by the Board of Directors on 29 April, to be approved by the annual general meeting 30 May 2024. The consolidated financial statements were prepared based on uniform accounting principles for similar transactions and events under similar circumstances. The consolidated financial statements are presented in NOK. Financial information is presented and rounded to the nearest thousands, except were stated otherwise.",
"dimensions": {
"concept": "ifrs-full:DisclosureOfBasisOfPreparationOfFinancialStatementsExplanatory",
"language": "en",
"entity": "scheme:5967007LIEEXZXIFE872",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"s6_notes__6__16": {
"value": "1.2 BASIS OF PREPARATION Nekkar\u2019s consolidated financial statements have been prepared in accordance with IFRS\u00ae Accounting Standards, as adopted by the European Union. Standards and interpretations effective for annual periods beginning on or after 1 January 2024 have not been applied in preparing these consolidated financial statements. The consolidated financial statements of the group for the year ended 31 December 2023 were issued by the Board of Directors on 29 April, to be approved by the annual general meeting 30 May 2024. The consolidated financial statements were prepared based on uniform accounting principles for similar transactions and events under similar circumstances. The consolidated financial statements are presented in NOK. Financial information is presented and rounded to the nearest thousands, except were stated otherwise.",
"dimensions": {
"concept": "ifrs-full:StatementOfIFRSCompliance",
"language": "en",
"entity": "scheme:5967007LIEEXZXIFE872",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"s6_notes__6__19-1": {
"value": "2. Summary of material accounting policy information The accounting principles set out below have been applied consistently to all periods presented in the consolidated financial statements and have been applied consistently by group entities.b) Current versus non-current classification An asset is classified as current when it is expected to be realised or intended to be sold or consumed in the normal operating cycle, held primarily for the purpose of trading, expected to be realised within twelve months after the reporting period, or is cash or cash equivalent. All other assets are classified as non-current. A liability is classified as current when it is expected to be settled in normal operating cycle, it is held primarily for the purpose of trading, it is due to be settled within twelve months after the reporting period, or there is no unconditional right to defer the settlement of the liability for at least twelve months after the reporting period. The group classifies all other liabilities as non-current. Deferred tax assets and liabilities are classified as non-current assets and liabilities.2.17 CONTRACT COSTS For revenue where performance obligations are satisfied over time, which is the primary source of revenue at the group, all cost are recognised as expensed when incurred because control of the work in progress transfers continuously to the customer as it is produced and not at discrete intervals. For contracts where performance obligations are satisfied at a point in time, IAS 2, Inventory, sets up the accounting. Cost to obtain a contract are immaterial for the group and expensed when incurred. Balance sheet classification For contracts recognised \u201cover-time\u201d, an amount equal to completed, not invoiced, performance obligations based on transaction price are recognised as contract asset, while prepayments from customers are recognised as contract liability. For contracts where there is both a contract asset and a contract liability, it is presented as net in the consolidated statement of financial position. Onerous contracts The full loss is recognised immediately if contracts are forecast to be lossmaking. The full loss includes all relevant contract costs.Cost presented as Material, goods and services are cost related to projects and consist mainly of sub suppliers in long term projects2.22 EQUITY Transaction costs directly related to an equity transaction are recognised directly in equity after deducting tax expenses.CLIMATE RISK Nekkar develops digitalised impact technologies that aim to unlock customer value, including reduction of environmental footprint and CO2-emissions, in numerous industries including renewables, aquaculture, shipping and offshore energy. As such, climate change represents both a risk and an opportunity for Nekkar. Nekkar considers its main climate risks to be associated with the global ambition/implementation gap for the transition to more renewable energy, as well as climate policy and taxation changes that could limit or delay the adoption of Nekkar\u2019s new technologies that are enablers to reduce the carbon footprint in the industries the company operates. This applies to both the renewables and aquaculture industries. Nekkar\u2019s exposure to the oil and gas industry is limited today but could grow in the coming years. The offshore energy industry has been identified as high risk by the Task Force on Climate-Related Financial Disclosures, and the industry is under pressure to reduce its emissions. Although the Ukraine war and associated energy shortage in Europe is likely to result in heavy investments in the offshore energy industry in the coming years, there is a long-term risk of declining investment in upstream oil and gas. However, the software and technologies that Nekkar delivers are capable of significantly reducing drilling time and amount of personnel required offshore, thereby substantially reducing the carbon footprint associated with this type of offshore operations. As such, climate-related risks also represent an opportunity for Nekkar. The energy transition may shorten the expected useful lives of oil and gas-related assets, which can accelerate depreciation charges. However, Nekkar is primarily a software supplier to the oil and gas industry, which means that the company does not expect assessment of the effect on useful lives to have significant accounting impact. Another climate risk is the increase in the frequency and intensity of extreme weather events. As the large majority of Nekkar\u2019s operations in based in Norway, this expectation is not assessed to lead to any effects on expected useful economic life of property, plant and equipment. However, extreme weather could result in delayed project progress, for example for installation of shiplifts in parts of the world that are more exposed to extreme weather. This could potentially mean that revenue and margin recognition could be delayed in such projects. Nekkar has not experienced any delays caused by extreme weather events during 2023. Overall, it is Nekkar\u2019s view that the company is well positioned to profit from a stronger focus on reducing emissions from the industries the company operates within, and that there are more positive business opportunities than negative risks associated with stronger industry efforts on reducing emissions and combating climate change. Nekkar has considered the impact of climate change on going concern. Effective assessment and analysis of climate-related risks and opportunities is vital to understand the potential impacts of climate-related risks on asset valuations, revenue and investment requirements. For 2023, Nekkar has therefore defined an objective to conduct a detailed climate risk analysis and set carbon footprint reduction goals for the company.",
"dimensions": {
"concept": "ifrs-full:DescriptionOfOtherAccountingPoliciesRelevantToUnderstandingOfFinancialStatements",
"language": "en",
"entity": "scheme:5967007LIEEXZXIFE872",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"s6_notes__6__21": {
"value": "2.1 BASIC PRINCIPLES a) New accounting standards and amendments The accounting policies adopted are consistent with those of the previous financial year.",
"dimensions": {
"concept": "ifrs-full:DisclosureOfChangesInAccountingPoliciesExplanatory",
"language": "en",
"entity": "scheme:5967007LIEEXZXIFE872",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"s6_notes__6__20": {
"value": "2.1 BASIC PRINCIPLES a) New accounting standards and amendments The accounting policies adopted are consistent with those of the previous financial year.",
"dimensions": {
"concept": "ifrs-full:DisclosureOfChangesInAccountingPoliciesAccountingEstimatesAndErrorsExplanatory",
"language": "en",
"entity": "scheme:5967007LIEEXZXIFE872",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"s6_notes__6__23-1": {
"value": "c) Fair value measurement The group measures financial instruments, such as derivatives, at fair value, as defined in IFRS 13, at each financial position date.3.2 ESTIMATION OF FAIR VALUE The fair value of financial instruments traded in an active market is based on the market value on the balance sheet date. The group has no such items in the financial statement. Fair value of financial instruments not traded in an active market is estimated using valuation techniques (primarily discounted future prospective cash flows) or other relevant information for giving a best estimate of fair value on the balance sheet date. Examples of this are forward contracts in foreign currencies where fair value is calculated by using the change in the currency on the balance sheet date. Fair value of drawings/technology acquired in a business combination is determined using the relief of royalty method. The valuation is based on the concept that if the company owns a technology, it does not have to rent, and is then relieved from paying a royalty. The fair value of other intangible assets is based on the discounted cash flows expected to be derived from the use and eventual sale of the assets.",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForFairValueMeasurementExplanatory",
"language": "en",
"entity": "scheme:5967007LIEEXZXIFE872",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"s6_notes__6__25": {
"value": "2.2 BASIS FOR CONSOLIDATION a) Subsidiaries Subsidiaries are entities which Nekkar controls. Control is achieved when the group is exposed, or has rights, to variable returns from its involvement with the investee and can affect those returns through its power over the investee. Subsidiaries are consolidated from the date of acquisition, being the date on which the group obtains control, and continue to be consolidated until the date when such control ceases. In cases where Nekkar achieves control over an entity, business combinations are accounted for using the acquisition method. Non-controlling interests are presented separately as equity in the group\u2019s consolidated statement of financial position.",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForSubsidiariesExplanatory",
"language": "en",
"entity": "scheme:5967007LIEEXZXIFE872",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"s6_notes__6__24": {
"value": "2.2 BASIS FOR CONSOLIDATION a) Subsidiaries Subsidiaries are entities which Nekkar controls. Control is achieved when the group is exposed, or has rights, to variable returns from its involvement with the investee and can affect those returns through its power over the investee. Subsidiaries are consolidated from the date of acquisition, being the date on which the group obtains control, and continue to be consolidated until the date when such control ceases. In cases where Nekkar achieves control over an entity, business combinations are accounted for using the acquisition method. Non-controlling interests are presented separately as equity in the group\u2019s consolidated statement of financial position.",
"dimensions": {
"concept": "ifrs-full:DisclosureOfBasisOfConsolidationExplanatory",
"language": "en",
"entity": "scheme:5967007LIEEXZXIFE872",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"s6_notes__6__26": {
"value": "2.3 SEGMENT INFORMATION For management purposes, the group is organised into segments based on its products and services (business units). The Board of directors monitors the operating results of its business units separately to make decisions about resource allocation and assess performance. Segment performance is evaluated based on profit or loss in the different business units and is measured consistently with profit or loss in the consolidated financial statements. However, some of the group\u2019s financing connected to group cash pool (including finance costs and finance income) is managed at group level and is not allocated to operating segments. Group support functions from the parent company along with Aquaculture and Renewables are presented as \u201cOther\u201d. Refer to Note 1 for further details.",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForSegmentReportingExplanatory",
"language": "en",
"entity": "scheme:5967007LIEEXZXIFE872",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"s6_notes__6__27": {
"value": "2.4 FOREIGN CURRENCIES a) Functional and presentation currencies The financial statements of the individual entities in the group are measured in the currency primarily used in the economic area where the unit operates (functional currency). The consolidated financial statements are presented in Norwegian kroner (NOK), which is the functional and presentation currency of the parent company, and the presentation currency of the group.",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForFunctionalCurrencyExplanatory",
"language": "en",
"entity": "scheme:5967007LIEEXZXIFE872",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"s6_notes__6__28": {
"value": "b) Transactions and assets and liabilities Transactions in foreign currencies are translated into the functional currency using the currency spot rates at the time of recognition. Foreign currency gains and losses that arise from the payment of such transactions, and the currency conversion effect from monetary items (assets and liabilities) nominated in foreign currencies, which are valued at the currency spot rates at the reporting date, are recognised in profit and loss. Non-monetary items measured at historical cost in foreign currency are translated into functional currency using the exchange rates as at the dates of the initial transaction. c) Group companies On consolidation, the assets and liabilities of foreign operations are converted into NOK at the rate of exchange prevailing at the reporting date and their income statements are translated at average exchange rates. Currency effects derived from consolidation are recognised in other comprehensive income. On disposal of a foreign operation, the component of other comprehensive income relating to the specific foreign operation is reclassified to profit or loss.",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForForeignCurrencyTranslationExplanatory",
"language": "en",
"entity": "scheme:5967007LIEEXZXIFE872",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"s6_notes__6__32": {
"value": "2.5 PROPERTY, PLANT AND EQUIPMENT Property, plant and equipment are recognised in the financial statements at cost less accumulated depreciation and accumulated impairment. Cost includes the costs directly related to the acquisition of the fixed asset. Subsequent expenditures are capitalised when it is likely that the group will receive future economic benefits from the expenditure, and the expenditure can be measured reliably. Other repair and maintenance costs are recognised in profit or loss in the period when the expenses are incurred. Property, plant and equipment are depreciated based on the straight-line method. Historical cost of the fixed asset is depreciated to the residual value over expected useful life, which is: \u2022 Machinery and vehicles 3-5 years\u2022 Fixtures/office equipment 5-10 years \u2022 Computer equipment 3-5 years Indicators related to possible impairment requirements are monitored continuously. If the carrying value of the fixed asset is higher than the estimated recoverable amount, the value is impaired to a recoverable amount. Gains and losses from disposal of assets are recognised in profit or loss and represent the difference between the sales price and the carrying value. Depreciation methods, useful lives and residual values are assessed at the reporting date and adjusted when required.",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForRepairsAndMaintenanceExplanatory",
"language": "en",
"entity": "scheme:5967007LIEEXZXIFE872",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"s6_notes__6__31": {
"value": "2.5 PROPERTY, PLANT AND EQUIPMENT Property, plant and equipment are recognised in the financial statements at cost less accumulated depreciation and accumulated impairment. Cost includes the costs directly related to the acquisition of the fixed asset. Subsequent expenditures are capitalised when it is likely that the group will receive future economic benefits from the expenditure, and the expenditure can be measured reliably. Other repair and maintenance costs are recognised in profit or loss in the period when the expenses are incurred. Property, plant and equipment are depreciated based on the straight-line method. Historical cost of the fixed asset is depreciated to the residual value over expected useful life, which is: \u2022 Machinery and vehicles 3-5 years\u2022 Fixtures/office equipment 5-10 years \u2022 Computer equipment 3-5 years Indicators related to possible impairment requirements are monitored continuously. If the carrying value of the fixed asset is higher than the estimated recoverable amount, the value is impaired to a recoverable amount. Gains and losses from disposal of assets are recognised in profit or loss and represent the difference between the sales price and the carrying value. Depreciation methods, useful lives and residual values are assessed at the reporting date and adjusted when required.",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForDepreciationExpenseExplanatory",
"language": "en",
"entity": "scheme:5967007LIEEXZXIFE872",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"s6_notes__6__30-1": {
"value": "2.5 PROPERTY, PLANT AND EQUIPMENT Property, plant and equipment are recognised in the financial statements at cost less accumulated depreciation and accumulated impairment. Cost includes the costs directly related to the acquisition of the fixed asset. Subsequent expenditures are capitalised when it is likely that the group will receive future economic benefits from the expenditure, and the expenditure can be measured reliably. Other repair and maintenance costs are recognised in profit or loss in the period when the expenses are incurred. Property, plant and equipment are depreciated based on the straight-line method. Historical cost of the fixed asset is depreciated to the residual value over expected useful life, which is: \u2022 Machinery and vehicles 3-5 years\u2022 Fixtures/office equipment 5-10 years \u2022 Computer equipment 3-5 years Indicators related to possible impairment requirements are monitored continuously. If the carrying value of the fixed asset is higher than the estimated recoverable amount, the value is impaired to a recoverable amount. Gains and losses from disposal of assets are recognised in profit or loss and represent the difference between the sales price and the carrying value. Depreciation methods, useful lives and residual values are assessed at the reporting date and adjusted when required.Development Research costs are expensed as incurred. Development activities include design or planning of production of new or significantly improved products and processes. Development costs associated with development of new products are capitalised to the extent that they can be reliably measured, the product or process is technically, or commercially feasible, future financial benefits are likely, and the group intends and has sufficient resources to complete the development, and to sell or use the asset. Capitalised development costs include materials, direct labor, directly attributable overheads and capitalised borrowing costs. Development costs are depreciated over their expected useful life (2 to 15 years). Public grants related to capitalised development projects are recognised as a reduction of capitalised costs.",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForExpensesExplanatory",
"language": "en",
"entity": "scheme:5967007LIEEXZXIFE872",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"s6_notes__6__29": {
"value": "2.5 PROPERTY, PLANT AND EQUIPMENT Property, plant and equipment are recognised in the financial statements at cost less accumulated depreciation and accumulated impairment. Cost includes the costs directly related to the acquisition of the fixed asset. Subsequent expenditures are capitalised when it is likely that the group will receive future economic benefits from the expenditure, and the expenditure can be measured reliably. Other repair and maintenance costs are recognised in profit or loss in the period when the expenses are incurred. Property, plant and equipment are depreciated based on the straight-line method. Historical cost of the fixed asset is depreciated to the residual value over expected useful life, which is: \u2022 Machinery and vehicles 3-5 years\u2022 Fixtures/office equipment 5-10 years \u2022 Computer equipment 3-5 years Indicators related to possible impairment requirements are monitored continuously. If the carrying value of the fixed asset is higher than the estimated recoverable amount, the value is impaired to a recoverable amount. Gains and losses from disposal of assets are recognised in profit or loss and represent the difference between the sales price and the carrying value. Depreciation methods, useful lives and residual values are assessed at the reporting date and adjusted when required.",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForPropertyPlantAndEquipmentExplanatory",
"language": "en",
"entity": "scheme:5967007LIEEXZXIFE872",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"s6_notes__6__34": {
"value": "2.6 INTANGIBLE ASSETS Intangible assets that have been acquired separately are measured on initial recognition at cost. The cost of intangible assets acquired through a business combination is their fair value at the date of acquisition. Capitalised intangible assets are recognised at a cost less than any amortisation and impairment losses. Internally generated intangible assets are recognised as capitalised development costs. Intangible assets are written down and adjustment is made to amoritsation if the asset has been impaired Customer relationships and customer portfolio Customer relationships and customer portfolios are established through contracts with customers. Customer relationships and customer portfolio acquired through a business combination are recognised as an asset based on their fair value at the acquisition date. The customer relationship and customer portfolios have limited useful life and are amortised using the straight-line method over their expected useful life (15 to 20 years). Patents and licenses Patents and licenses have limited useful life and are recorded at historical cost in the balance sheet less depreciation. Patents and technology are amortised using the straight-line method over their expected useful life (2 to 15 years). Development Research costs are expensed as incurred. Development activities include design or planning of production of new or significantly improved products and processes. Development costs associated with development of new products are capitalised to the extent that they can be reliably measured, the product or process is technically, or commercially feasible, future financial benefits are likely, and the group intends and has sufficient resources to complete the development, and to sell or use the asset. Capitalised development costs include materials, direct labor, directly attributable overheads and capitalised borrowing costs. Development costs are depreciated over their expected useful life (2 to 15 years). Public grants related to capitalised development projects are recognised as a reduction of capitalised costs.",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForIntangibleAssetsOtherThanGoodwillExplanatory",
"language": "en",
"entity": "scheme:5967007LIEEXZXIFE872",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"s6_notes__6__33-1": {
"value": "2.6 INTANGIBLE ASSETS Intangible assets that have been acquired separately are measured on initial recognition at cost. The cost of intangible assets acquired through a business combination is their fair value at the date of acquisition. Capitalised intangible assets are recognised at a cost less than any amortisation and impairment losses. Internally generated intangible assets are recognised as capitalised development costs. Intangible assets are written down and adjustment is made to amoritsation if the asset has been impaired Customer relationships and customer portfolio Customer relationships and customer portfolios are established through contracts with customers. Customer relationships and customer portfolio acquired through a business combination are recognised as an asset based on their fair value at the acquisition date. The customer relationship and customer portfolios have limited useful life and are amortised using the straight-line method over their expected useful life (15 to 20 years). Patents and licenses Patents and licenses have limited useful life and are recorded at historical cost in the balance sheet less depreciation. Patents and technology are amortised using the straight-line method over their expected useful life (2 to 15 years). Development Research costs are expensed as incurred. Development activities include design or planning of production of new or significantly improved products and processes. Development costs associated with development of new products are capitalised to the extent that they can be reliably measured, the product or process is technically, or commercially feasible, future financial benefits are likely, and the group intends and has sufficient resources to complete the development, and to sell or use the asset. Capitalised development costs include materials, direct labor, directly attributable overheads and capitalised borrowing costs. Development costs are depreciated over their expected useful life (2 to 15 years). Public grants related to capitalised development projects are recognised as a reduction of capitalised costs.2.7 BUSINESS COMBINATIONS AND GOODWILL When acquiring a business, financial assets and liabilities are recognised at fair value in the opening group balance. The consideration paid in a business combination is measured at fair value at the acquisition date. The initial accounting for a business combination can be changed if new information about the fair value at the acquisition date is present. The allocation can be amended within 12 months of the acquisition date if the initial accounting at the acquisition date was determined provisionally. The non-controlling interest is measured at fair value. Goodwill is initially measured at cost, being the excess of the aggregate of the consideration transferred and the amount recognised for non-controlling interests, and any previous interest held, over the net identifiable assets acquired and liabilities assumed. After initial recognition, goodwill is measured at cost less than any accumulated impairment losses. For impairment testing, goodwill acquired in a business combination is, from the acquisition date, allocated to each of the group\u2019s cash-generating units that are expected to benefit from the combination, irrespective of whether other assets or liabilities of the acquire are assigned to those units. Subsidiaries Subsidiaries encompass all entities over which the group wields control. Control is typically deemed to be present when the group holds more than 50 percent of the voting shares. Associated companies Associated companies are entities where the Group has significant influence, but not control. Significant influence is assumed to exist when the Group has between 20 percent to 50 percent of the voting rights in a company. The consolidated financial statements include the Group\u2019s share of the profits/losses from associated companies are accounted for using the equity method, from the date significant influence was achieved.",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForIntangibleAssetsAndGoodwillExplanatory",
"language": "en",
"entity": "scheme:5967007LIEEXZXIFE872",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"s6_notes__6__35": {
"value": "Development Research costs are expensed as incurred. Development activities include design or planning of production of new or significantly improved products and processes. Development costs associated with development of new products are capitalised to the extent that they can be reliably measured, the product or process is technically, or commercially feasible, future financial benefits are likely, and the group intends and has sufficient resources to complete the development, and to sell or use the asset. Capitalised development costs include materials, direct labor, directly attributable overheads and capitalised borrowing costs. Development costs are depreciated over their expected useful life (2 to 15 years). Public grants related to capitalised development projects are recognised as a reduction of capitalised costs.",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForResearchAndDevelopmentExpenseExplanatory",
"language": "en",
"entity": "scheme:5967007LIEEXZXIFE872",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"s6_notes__6__37": {
"value": "Government grants Government grants are recognised when it is reasonably certain that the company will meet the conditions stipulated for the grants and that the grants will be received. Tax credits related to development projects are classified as government grants if they ultimately are settled with cash. Grants relating to intangible assets are deducted from the carrying amount of the asset and recognised in profit or loss as a reduction of the depreciation charge over the lifetime of the assets.",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForGovernmentGrants",
"language": "en",
"entity": "scheme:5967007LIEEXZXIFE872",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"s6_notes__6__40": {
"value": "2.7 BUSINESS COMBINATIONS AND GOODWILL When acquiring a business, financial assets and liabilities are recognised at fair value in the opening group balance. The consideration paid in a business combination is measured at fair value at the acquisition date. The initial accounting for a business combination can be changed if new information about the fair value at the acquisition date is present. The allocation can be amended within 12 months of the acquisition date if the initial accounting at the acquisition date was determined provisionally. The non-controlling interest is measured at fair value. Goodwill is initially measured at cost, being the excess of the aggregate of the consideration transferred and the amount recognised for non-controlling interests, and any previous interest held, over the net identifiable assets acquired and liabilities assumed. After initial recognition, goodwill is measured at cost less than any accumulated impairment losses. For impairment testing, goodwill acquired in a business combination is, from the acquisition date, allocated to each of the group\u2019s cash-generating units that are expected to benefit from the combination, irrespective of whether other assets or liabilities of the acquire are assigned to those units. Subsidiaries Subsidiaries encompass all entities over which the group wields control. Control is typically deemed to be present when the group holds more than 50 percent of the voting shares. Associated companies Associated companies are entities where the Group has significant influence, but not control. Significant influence is assumed to exist when the Group has between 20 percent to 50 percent of the voting rights in a company. The consolidated financial statements include the Group\u2019s share of the profits/losses from associated companies are accounted for using the equity method, from the date significant influence was achieved.",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForGoodwillExplanatory",
"language": "en",
"entity": "scheme:5967007LIEEXZXIFE872",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"s6_notes__6__39": {
"value": "2.7 BUSINESS COMBINATIONS AND GOODWILL When acquiring a business, financial assets and liabilities are recognised at fair value in the opening group balance. The consideration paid in a business combination is measured at fair value at the acquisition date. The initial accounting for a business combination can be changed if new information about the fair value at the acquisition date is present. The allocation can be amended within 12 months of the acquisition date if the initial accounting at the acquisition date was determined provisionally. The non-controlling interest is measured at fair value. Goodwill is initially measured at cost, being the excess of the aggregate of the consideration transferred and the amount recognised for non-controlling interests, and any previous interest held, over the net identifiable assets acquired and liabilities assumed. After initial recognition, goodwill is measured at cost less than any accumulated impairment losses. For impairment testing, goodwill acquired in a business combination is, from the acquisition date, allocated to each of the group\u2019s cash-generating units that are expected to benefit from the combination, irrespective of whether other assets or liabilities of the acquire are assigned to those units. Subsidiaries Subsidiaries encompass all entities over which the group wields control. Control is typically deemed to be present when the group holds more than 50 percent of the voting shares. Associated companies Associated companies are entities where the Group has significant influence, but not control. Significant influence is assumed to exist when the Group has between 20 percent to 50 percent of the voting rights in a company. The consolidated financial statements include the Group\u2019s share of the profits/losses from associated companies are accounted for using the equity method, from the date significant influence was achieved.",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForBusinessCombinationsExplanatory",
"language": "en",
"entity": "scheme:5967007LIEEXZXIFE872",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"s6_notes__6__38": {
"value": "2.7 BUSINESS COMBINATIONS AND GOODWILL When acquiring a business, financial assets and liabilities are recognised at fair value in the opening group balance. The consideration paid in a business combination is measured at fair value at the acquisition date. The initial accounting for a business combination can be changed if new information about the fair value at the acquisition date is present. The allocation can be amended within 12 months of the acquisition date if the initial accounting at the acquisition date was determined provisionally. The non-controlling interest is measured at fair value. Goodwill is initially measured at cost, being the excess of the aggregate of the consideration transferred and the amount recognised for non-controlling interests, and any previous interest held, over the net identifiable assets acquired and liabilities assumed. After initial recognition, goodwill is measured at cost less than any accumulated impairment losses. For impairment testing, goodwill acquired in a business combination is, from the acquisition date, allocated to each of the group\u2019s cash-generating units that are expected to benefit from the combination, irrespective of whether other assets or liabilities of the acquire are assigned to those units. Subsidiaries Subsidiaries encompass all entities over which the group wields control. Control is typically deemed to be present when the group holds more than 50 percent of the voting shares. Associated companies Associated companies are entities where the Group has significant influence, but not control. Significant influence is assumed to exist when the Group has between 20 percent to 50 percent of the voting rights in a company. The consolidated financial statements include the Group\u2019s share of the profits/losses from associated companies are accounted for using the equity method, from the date significant influence was achieved.",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForBusinessCombinationsAndGoodwillExplanatory",
"language": "en",
"entity": "scheme:5967007LIEEXZXIFE872",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"s6_notes__6__42": {
"value": "2.8 FINANCIAL INSTRUMENTS With the exception of forward FX contracts (see 2.9), all financial assets are classified as financial assets measured at amortised cost. Trade receivable Accounts receivables are recognised at transaction price. For subsequent measurement the transaction price is not adjusted for significant financing component as customer payment for good or service is expected within a year or less. Expected credit loss is passed on both macro-economic and entity specific factors. The group engage in further judgement for trade receivables not paid when due. The group do not use a provision matrix as allowed under IFRS 9. Contract assets (accrued not invoiced production) Contract assets, which mainly satisfy performance obligations not yet invoiced, is recognised with the estimated considerations according to IFRS 15 for the work performed. Contract assets are subject to impairment testing in the same manner as trade receivables. Recognition and measurement of financial liabilities All financial liabilities in the group are classified as financial liabilities as subsequently measured at amortised cost unless the financial liabilities are derivatives or financial liabilities held for trading, which are classified and measured at fair value. In subsequent periods, financial instruments are measured in accordance with classifications described above.",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForFinancialInstrumentsExplanatory",
"language": "en",
"entity": "scheme:5967007LIEEXZXIFE872",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"s6_notes__6__43": {
"value": "Trade receivable Accounts receivables are recognised at transaction price. For subsequent measurement the transaction price is not adjusted for significant financing component as customer payment for good or service is expected within a year or less. Expected credit loss is passed on both macro-economic and entity specific factors. The group engage in further judgement for trade receivables not paid when due. The group do not use a provision matrix as allowed under IFRS 9.",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForTradeAndOtherReceivablesExplanatory",
"language": "en",
"entity": "scheme:5967007LIEEXZXIFE872",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"s6_notes__6__45": {
"value": "Contract assets (accrued not invoiced production) Contract assets, which mainly satisfy performance obligations not yet invoiced, is recognised with the estimated considerations according to IFRS 15 for the work performed. Contract assets are subject to impairment testing in the same manner as trade receivables.",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForFinancialAssetsExplanatory",
"language": "en",
"entity": "scheme:5967007LIEEXZXIFE872",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"s6_notes__6__44-1": {
"value": "Recognition and measurement of financial liabilities All financial liabilities in the group are classified as financial liabilities as subsequently measured at amortised cost unless the financial liabilities are derivatives or financial liabilities held for trading, which are classified and measured at fair value. In subsequent periods, financial instruments are measured in accordance with classifications described above.2.13 FINANCIAL LIABILITIES Non-derivative financial liabilities are initially recognised at fair value plus directly attributable transaction costs. After initial recognition, liabilities are measured at amortised costs using the effective interest method. Loans are classified as current liabilities unless there is an unconditional right to postpone payment of the debt by more than 12 months from the date of the balance sheet. The following year\u2019s payment is classified as short-term debt. The group derecognises financial liability when the contractual obligations are satisfied or cancelled.",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForFinancialLiabilitiesExplanatory",
"language": "en",
"entity": "scheme:5967007LIEEXZXIFE872",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"s6_notes__6__49": {
"value": "2.9 DERIVATIVE FINANCIAL INSTRUMENTS AND HEDGE ACCOUNTING The group is exposed to fluctuations in foreign exchange rates which may affect the operating results. The group utilises hedging contractual income and costs in a foreign currency. Fair value hedging The group uses financial derivatives to hedge foreign currency risk. Derivatives are recognised initially at fair value and are subsequently re-measured at fair value. Attributable transaction costs are recognised in the profit or loss when they incur. The hedge does not fulfill the criteria for hedge accounting, the derivative is carried at fair value through profit and loss as financial income/loss.",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForDerivativeFinancialInstrumentsExplanatory",
"language": "en",
"entity": "scheme:5967007LIEEXZXIFE872",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"s6_notes__6__48": {
"value": "2.9 DERIVATIVE FINANCIAL INSTRUMENTS AND HEDGE ACCOUNTING The group is exposed to fluctuations in foreign exchange rates which may affect the operating results. The group utilises hedging contractual income and costs in a foreign currency. Fair value hedging The group uses financial derivatives to hedge foreign currency risk. Derivatives are recognised initially at fair value and are subsequently re-measured at fair value. Attributable transaction costs are recognised in the profit or loss when they incur. The hedge does not fulfill the criteria for hedge accounting, the derivative is carried at fair value through profit and loss as financial income/loss.",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForFinancialInstrumentsAtFairValueThroughProfitOrLossExplanatory",
"language": "en",
"entity": "scheme:5967007LIEEXZXIFE872",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"s6_notes__6__47": {
"value": "2.9 DERIVATIVE FINANCIAL INSTRUMENTS AND HEDGE ACCOUNTING The group is exposed to fluctuations in foreign exchange rates which may affect the operating results. The group utilises hedging contractual income and costs in a foreign currency. Fair value hedging The group uses financial derivatives to hedge foreign currency risk. Derivatives are recognised initially at fair value and are subsequently re-measured at fair value. Attributable transaction costs are recognised in the profit or loss when they incur. The hedge does not fulfill the criteria for hedge accounting, the derivative is carried at fair value through profit and loss as financial income/loss.",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForHedgingExplanatory",
"language": "en",
"entity": "scheme:5967007LIEEXZXIFE872",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"s6_notes__6__46": {
"value": "2.9 DERIVATIVE FINANCIAL INSTRUMENTS AND HEDGE ACCOUNTING The group is exposed to fluctuations in foreign exchange rates which may affect the operating results. The group utilises hedging contractual income and costs in a foreign currency. Fair value hedging The group uses financial derivatives to hedge foreign currency risk. Derivatives are recognised initially at fair value and are subsequently re-measured at fair value. Attributable transaction costs are recognised in the profit or loss when they incur. The hedge does not fulfill the criteria for hedge accounting, the derivative is carried at fair value through profit and loss as financial income/loss.",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForDerivativeFinancialInstrumentsAndHedgingExplanatory",
"language": "en",
"entity": "scheme:5967007LIEEXZXIFE872",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"s6_notes__6__50": {
"value": "2.10 LEASES IFRS 16 sets out the principles for the recognition, measurement, presentation and disclosure of leases. At the commencement date of a lease, a lessee will have to recognise a liability based on future lease payments and an asset representing the right to use the underlying asset during the lease term (\u201cRight-of-use assets\u201d). Further, the lessee will be required to separately recognise the interest expense on the lease liability and the deprecation expense of the right-of-use asset. Nekkar has applied the following practical expedients: \u2022 Exemption for short-term leases (defined as 12 months or less) \u2022 Exemption for leases of low value assets",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForLeasesExplanatory",
"language": "en",
"entity": "scheme:5967007LIEEXZXIFE872",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"s6_notes__6__51": {
"value": "2.11 INVENTORIES Inventories are valued at the lower cost and net realisable value. The cost is calculated by means of the first-in, first-out principle (FIFO). For finished goods and work in progress (for project in which revenue recognition is \u201cpoint-in-time\u201d), the cost consists of product design expenses, consumption of materials, direct labor costs, other direct costs, and indirect production costs (based on a normal capacity level). Net realisable value is the estimated selling price in the ordinary course of business, less the estimated cost of completion and estimated costs necessary to make the sale.",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForMeasuringInventories",
"language": "en",
"entity": "scheme:5967007LIEEXZXIFE872",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"s6_notes__6__52": {
"value": "2.12 CASH AND CASH EQUIVALENTS Cash and cash equivalents consist of bank deposits. Withdrawals from the bank overdraft constitute part of current liabilities. Deposits and overdrafts are presented as net if the bank has a legal/contractual right to offset the deposits and liabilities. The group has a cash pool arrangement where Nekkar is the primary agreement holder. Cash positions on bank accounts with different currencies are presented as net in the consolidated financial statement.",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyToDetermineComponentsOfCashAndCashEquivalents",
"language": "en",
"entity": "scheme:5967007LIEEXZXIFE872",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"s6_notes__6__53": {
"value": "2.13 FINANCIAL LIABILITIES Non-derivative financial liabilities are initially recognised at fair value plus directly attributable transaction costs. After initial recognition, liabilities are measured at amortised costs using the effective interest method. Loans are classified as current liabilities unless there is an unconditional right to postpone payment of the debt by more than 12 months from the date of the balance sheet. The following year\u2019s payment is classified as short-term debt. The group derecognises financial liability when the contractual obligations are satisfied or cancelled.",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForDerecognitionOfFinancialInstrumentsExplanatory",
"language": "en",
"entity": "scheme:5967007LIEEXZXIFE872",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"s6_notes__6__57": {
"value": "2.14 TAXES Tax in the profit and loss accounts comprise both tax payable for the period and change in deferred tax. Tax payable for the period and deferred tax are recognised in profit or loss, except tax on items related to business combinations or taxes recognized directly in equity or comprehensive income. Deferred tax assets and deferred tax liabilities are offset if a legally enforceable right exists to set off current tax assets against current income tax liabilities and the deferred taxes relate to the same taxable entity and the same taxation authority. Deferred tax assets are recognised when it is convincing evidence that the company will have a sufficient profit for tax purposes in subsequent periods to utilise the tax asset. The group includes the possibility of tax planning through group contribution as part of the assessment of convincing evidence. The group only recognised deferred tax assets which can be utilised in five years as the subsequent period is considered too uncertain. Deferred tax assets or liability is measured using tax rates and tax laws enacted or substantially enacted on the balance sheet date, and which presumably may be utilised when the deferred tax advantage is realised or when the deferred tax is settled.",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForTaxesOtherThanIncomeTaxExplanatory",
"language": "en",
"entity": "scheme:5967007LIEEXZXIFE872",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"s6_notes__6__56": {
"value": "2.14 TAXES Tax in the profit and loss accounts comprise both tax payable for the period and change in deferred tax. Tax payable for the period and deferred tax are recognised in profit or loss, except tax on items related to business combinations or taxes recognized directly in equity or comprehensive income. Deferred tax assets and deferred tax liabilities are offset if a legally enforceable right exists to set off current tax assets against current income tax liabilities and the deferred taxes relate to the same taxable entity and the same taxation authority. Deferred tax assets are recognised when it is convincing evidence that the company will have a sufficient profit for tax purposes in subsequent periods to utilise the tax asset. The group includes the possibility of tax planning through group contribution as part of the assessment of convincing evidence. The group only recognised deferred tax assets which can be utilised in five years as the subsequent period is considered too uncertain. Deferred tax assets or liability is measured using tax rates and tax laws enacted or substantially enacted on the balance sheet date, and which presumably may be utilised when the deferred tax advantage is realised or when the deferred tax is settled.",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForDeferredIncomeTaxExplanatory",
"language": "en",
"entity": "scheme:5967007LIEEXZXIFE872",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"s6_notes__6__55": {
"value": "2.14 TAXES Tax in the profit and loss accounts comprise both tax payable for the period and change in deferred tax. Tax payable for the period and deferred tax are recognised in profit or loss, except tax on items related to business combinations or taxes recognized directly in equity or comprehensive income. Deferred tax assets and deferred tax liabilities are offset if a legally enforceable right exists to set off current tax assets against current income tax liabilities and the deferred taxes relate to the same taxable entity and the same taxation authority. Deferred tax assets are recognised when it is convincing evidence that the company will have a sufficient profit for tax purposes in subsequent periods to utilise the tax asset. The group includes the possibility of tax planning through group contribution as part of the assessment of convincing evidence. The group only recognised deferred tax assets which can be utilised in five years as the subsequent period is considered too uncertain. Deferred tax assets or liability is measured using tax rates and tax laws enacted or substantially enacted on the balance sheet date, and which presumably may be utilised when the deferred tax advantage is realised or when the deferred tax is settled.",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForIncomeTaxExplanatory",
"language": "en",
"entity": "scheme:5967007LIEEXZXIFE872",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"s6_notes__6__58": {
"value": "2.15 PENSION OBLIGATIONS, BONUS SCHEMES AND OTHER COMPENSATION SCHEMES FOR EMPLOYEES a) Pension obligations The companies in the group have various pension plans. The pension plans are in general financed by payments to insurance companies or pension funds. As of 31 December 2023, Nekkar has only defined contribution plans.",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForEmployeeBenefitsExplanatory",
"language": "en",
"entity": "scheme:5967007LIEEXZXIFE872",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"s6_notes__6__60": {
"value": "2.16 REVENUE RECOGNITION A five-step process is applied before revenue can be recognised; 1. Identify the contract 2. Identify the performance obligations in the contract 3. Determine the transaction price 4. Allocate the transaction price to performance obligations 5. Recognised revenue as performance obligation is satisfied During the application process, steps 2 and 5 were the most complex due to the contract structure within Nekkar. Below are further details on the 5-step model, focusing on step 2 and 5. 1. Identification of contract The group\u2019s revenue derives from contracts with customers in one of the following revenue streams; a. Long-term construction contracts (engineer-to-order) b. Service contracts c. After sales All these revenue streams are based on a contract with the customer. 2. Identification of performance obligations Due to contract structure, there are differences within the contracts regarding identifying performance obligations. The review has shown; The deliveries in contracts are reviewed to identify if there are distinct performance obligations. Contracts held within continued business ordinarily represent one performance obligation, ref section 5 below. It could be argued that there could be more than one performance obligation in some of the contracts, but those potential additional performance obligations identified have been assessed immaterially. 3. Transaction price Revenue from construction contracts includes original contract amount and approved variation orders. For contracts where multiple performance obligations are identified, a stand-alone selling price is identified to each of the performance obligations. Potential liquidated damages are recognised as a reduction of the transaction price unless it is highly probable that they will not be incurred. Beyond this there are only immaterial variable considerations. 4. Allocation of transaction price to performance obligation Based on the extensive review of contracts upon the implementation of IFRS 15, the following has been identified; Contracts represent one performance obligation, hence allocation of transaction price to performance obligation is 1:1. 5. Revenue recognition as performance obligation is satisfied Revenue is measured based on the consideration specified in a contract with a customer. The group recognises revenue when it transfers control over a good or service to a customer. The following table provides information about the nature and timing of the satisfaction of performance obligations in contracts with customers, and the related revenue recognition policies. Nature and timing of satisfaction of Type of contract performance obligation Revenue recognition under IFRS 15 Construction Long-term construction contracts with After a thorough analysis of the criteria for \u201cover contracts a typical duration of 18-48 months from time\u201d revenue recognition the main issue relating contracts are signed, to the projects are to timing of revenue recognition was Nekkar\u2019s (Engineer-to-closed. These projects are engineer-to-order enforceable right to payment for the performance order) projects, which deliver highly customised completed to date in a situation with termination turnkey systems for shipyards around the by the customer for other reasons than Nekkar\u2019s world. The projects are highly specialised failure to perform as promised (termination by systems for each individual project, with no convenience). alternative use for the company, and where each project is considered one performance Nekkar has assessed the right to payment to obligation. date from a legal point of view. The result of the contract review is that the relevant contract either For the performance obligations identified in includes a termination by convenience clause the contracts, it is assessed that control will be that is in favor of the group, or that general legal transferred to the customer over time as the basis in the relevant jurisdiction is in favor of the items are constructed. group, thus Nekkar have the legal right to require payment from the customer for performance to date. Payment covers approximately the expected selling price of the goods and services transferred to date, which equals cost plus a reasonable profit margin. Based on this it is the company\u2019s assessment that revenue recognition over time is correct for these contracts. In addition, there is no alternative use. Measure of progress is based on cost incurred relative to the total expected cost to satisfy the performance obligation. Upgrade contracts Long-term upgrade contracts with a typical The analysis of the criteria for \u201cover time\u201d revenue (Engineer-to-duration of 12-24 months from contracts are recognition for these types of contracts is linked order) signed, to the projects are closed. These to Nekkar\u2019s performance enhancing an asset that projects are engineer-to-order projects, the customer controls as the asset is enhanced or which deliver upgrades of existing shiplift upgraded. systems with highly customised turnkey systems for shipyards around the world. The Nekkar has assessed that the customer controls projects are highly specialised systems for the asset throughout the upgrade. The asset each individual project, with no alternative use is in operation throughout most of the project for the company, that the customer controls phase and all installation will happen on throughout the project phase and where customer premises. As such the customer have each project is considered one performance physical control of the asset including control obligation. over functional and operational structures. Legal ownership of the work performed is also For the performance obligations identified in transferred to the customer as the work is carried the contracts, it is assessed that control will be out. Based on this it is the company\u2019s assessment, transferred to the customer over time as the that revenue recognition over time is correct for items are constructed. these contracts. Measure of progress is based on cost incurred relative to the total expected cost to satisfy the performance obligation.Nature and timing of satisfaction of Type of contract performance obligation Revenue recognition under IFRS 15 Construction The company delivers service-based business, Revenue from contracts with customers for contracts where work is done on the customers\u2019 other services is recognised over-time using a (Alternative user) equipment. These deliveries are man-hour cost progress method or is recognized over-time based and considered over-time deliveries. as manhours and materials are delivered to the Spare parts as part of the service delivery customer. are recognised upon delivery. The lead time from order to completed customer delivery is Revenue from contracts with customers for normally less than three months. after sales are recognised at point-in-time upon delivery. For after-sales contracts, in which there is sale of components etc, revenue is recognised upon delivery.",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForConstructionInProgressExplanatory",
"language": "en",
"entity": "scheme:5967007LIEEXZXIFE872",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"s6_notes__6__59": {
"value": "2.16 REVENUE RECOGNITION A five-step process is applied before revenue can be recognised; 1. Identify the contract 2. Identify the performance obligations in the contract 3. Determine the transaction price 4. Allocate the transaction price to performance obligations 5. Recognised revenue as performance obligation is satisfied During the application process, steps 2 and 5 were the most complex due to the contract structure within Nekkar. Below are further details on the 5-step model, focusing on step 2 and 5. 1. Identification of contract The group\u2019s revenue derives from contracts with customers in one of the following revenue streams; a. Long-term construction contracts (engineer-to-order) b. Service contracts c. After sales All these revenue streams are based on a contract with the customer. 2. Identification of performance obligations Due to contract structure, there are differences within the contracts regarding identifying performance obligations. The review has shown; The deliveries in contracts are reviewed to identify if there are distinct performance obligations. Contracts held within continued business ordinarily represent one performance obligation, ref section 5 below. It could be argued that there could be more than one performance obligation in some of the contracts, but those potential additional performance obligations identified have been assessed immaterially. 3. Transaction price Revenue from construction contracts includes original contract amount and approved variation orders. For contracts where multiple performance obligations are identified, a stand-alone selling price is identified to each of the performance obligations. Potential liquidated damages are recognised as a reduction of the transaction price unless it is highly probable that they will not be incurred. Beyond this there are only immaterial variable considerations. 4. Allocation of transaction price to performance obligation Based on the extensive review of contracts upon the implementation of IFRS 15, the following has been identified; Contracts represent one performance obligation, hence allocation of transaction price to performance obligation is 1:1. 5. Revenue recognition as performance obligation is satisfied Revenue is measured based on the consideration specified in a contract with a customer. The group recognises revenue when it transfers control over a good or service to a customer. The following table provides information about the nature and timing of the satisfaction of performance obligations in contracts with customers, and the related revenue recognition policies. Nature and timing of satisfaction of Type of contract performance obligation Revenue recognition under IFRS 15 Construction Long-term construction contracts with After a thorough analysis of the criteria for \u201cover contracts a typical duration of 18-48 months from time\u201d revenue recognition the main issue relating contracts are signed, to the projects are to timing of revenue recognition was Nekkar\u2019s (Engineer-to-closed. These projects are engineer-to-order enforceable right to payment for the performance order) projects, which deliver highly customised completed to date in a situation with termination turnkey systems for shipyards around the by the customer for other reasons than Nekkar\u2019s world. The projects are highly specialised failure to perform as promised (termination by systems for each individual project, with no convenience). alternative use for the company, and where each project is considered one performance Nekkar has assessed the right to payment to obligation. date from a legal point of view. The result of the contract review is that the relevant contract either For the performance obligations identified in includes a termination by convenience clause the contracts, it is assessed that control will be that is in favor of the group, or that general legal transferred to the customer over time as the basis in the relevant jurisdiction is in favor of the items are constructed. group, thus Nekkar have the legal right to require payment from the customer for performance to date. Payment covers approximately the expected selling price of the goods and services transferred to date, which equals cost plus a reasonable profit margin. Based on this it is the company\u2019s assessment that revenue recognition over time is correct for these contracts. In addition, there is no alternative use. Measure of progress is based on cost incurred relative to the total expected cost to satisfy the performance obligation. Upgrade contracts Long-term upgrade contracts with a typical The analysis of the criteria for \u201cover time\u201d revenue (Engineer-to-duration of 12-24 months from contracts are recognition for these types of contracts is linked order) signed, to the projects are closed. These to Nekkar\u2019s performance enhancing an asset that projects are engineer-to-order projects, the customer controls as the asset is enhanced or which deliver upgrades of existing shiplift upgraded. systems with highly customised turnkey systems for shipyards around the world. The Nekkar has assessed that the customer controls projects are highly specialised systems for the asset throughout the upgrade. The asset each individual project, with no alternative use is in operation throughout most of the project for the company, that the customer controls phase and all installation will happen on throughout the project phase and where customer premises. As such the customer have each project is considered one performance physical control of the asset including control obligation. over functional and operational structures. Legal ownership of the work performed is also For the performance obligations identified in transferred to the customer as the work is carried the contracts, it is assessed that control will be out. Based on this it is the company\u2019s assessment, transferred to the customer over time as the that revenue recognition over time is correct for items are constructed. these contracts. Measure of progress is based on cost incurred relative to the total expected cost to satisfy the performance obligation.Nature and timing of satisfaction of Type of contract performance obligation Revenue recognition under IFRS 15 Construction The company delivers service-based business, Revenue from contracts with customers for contracts where work is done on the customers\u2019 other services is recognised over-time using a (Alternative user) equipment. These deliveries are man-hour cost progress method or is recognized over-time based and considered over-time deliveries. as manhours and materials are delivered to the Spare parts as part of the service delivery customer. are recognised upon delivery. The lead time from order to completed customer delivery is Revenue from contracts with customers for normally less than three months. after sales are recognised at point-in-time upon delivery. For after-sales contracts, in which there is sale of components etc, revenue is recognised upon delivery.",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForRecognitionOfRevenue",
"language": "en",
"entity": "scheme:5967007LIEEXZXIFE872",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"s6_notes__6__63": {
"value": "2.18 IMPAIRMENT OF ASSETS Non-financial assets At the reporting date, the group assesses whether there are indications that an asset may be impaired. If any indication exists, or when annual impairment testing for an asset is required, the group estimates the asset\u2019s recoverable amount. For goodwill and intangible assets not yet available for use, or with an indeterminable useful life, the recoverable amount is estimated at the same time each year. An asset\u2019s recoverable amount is the higher of an assets or cash-generating unit\u2019s (CGU) fair value less costs of disposal and its value in use. A recoverable amount is determined for an individual asset, unless the asset does not generate cash inflows that are largely independent of those from other assets or groups of assets. When the carrying amount of an asset or CGU exceeds its recoverable amount, the asset is considered impaired and is written down to its recoverable amount. In the assessment of value in use, the estimated future cash flow is discounted to net present value, with a pretax market-based discount rate. The rate considers the time value of money and asset-specific risk. With the purpose of testing for impairment, assets that have not been tested individually are grouped in the smallest identifiable group of assets that generate incoming cash flow which in all material aspects is independent of incoming cash flows from other assets or group of assets (cash generating units or CGU). Impairment is determined for goodwill by assessing the recoverable amount of each CGU (or group of CGUs) to which the goodwill relates. Impairment losses relating to goodwill cannot be reversed in future periods. For other assets, an assessment is made on each reporting date whether there are indications that previously recognised impairment losses no longer exist or have decreased. A previously recognised impairment loss is reversed only if there has been a change in the assumptions used to determine the asset\u2019s recoverable amount since the last impairment loss was recognised. The reversal is limited so that the carrying amount of the asset does not exceed its recoverable amount, nor exceed the carrying amount that would have been determined, net of depreciation, had no impairment loss been recognised for the asset in prior years.",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForImpairmentOfNonfinancialAssetsExplanatory",
"language": "en",
"entity": "scheme:5967007LIEEXZXIFE872",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"s6_notes__6__62": {
"value": "2.18 IMPAIRMENT OF ASSETS Non-financial assets At the reporting date, the group assesses whether there are indications that an asset may be impaired. If any indication exists, or when annual impairment testing for an asset is required, the group estimates the asset\u2019s recoverable amount. For goodwill and intangible assets not yet available for use, or with an indeterminable useful life, the recoverable amount is estimated at the same time each year. An asset\u2019s recoverable amount is the higher of an assets or cash-generating unit\u2019s (CGU) fair value less costs of disposal and its value in use. A recoverable amount is determined for an individual asset, unless the asset does not generate cash inflows that are largely independent of those from other assets or groups of assets. When the carrying amount of an asset or CGU exceeds its recoverable amount, the asset is considered impaired and is written down to its recoverable amount. In the assessment of value in use, the estimated future cash flow is discounted to net present value, with a pretax market-based discount rate. The rate considers the time value of money and asset-specific risk. With the purpose of testing for impairment, assets that have not been tested individually are grouped in the smallest identifiable group of assets that generate incoming cash flow which in all material aspects is independent of incoming cash flows from other assets or group of assets (cash generating units or CGU). Impairment is determined for goodwill by assessing the recoverable amount of each CGU (or group of CGUs) to which the goodwill relates. Impairment losses relating to goodwill cannot be reversed in future periods. For other assets, an assessment is made on each reporting date whether there are indications that previously recognised impairment losses no longer exist or have decreased. A previously recognised impairment loss is reversed only if there has been a change in the assumptions used to determine the asset\u2019s recoverable amount since the last impairment loss was recognised. The reversal is limited so that the carrying amount of the asset does not exceed its recoverable amount, nor exceed the carrying amount that would have been determined, net of depreciation, had no impairment loss been recognised for the asset in prior years.",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForImpairmentOfAssetsExplanatory",
"language": "en",
"entity": "scheme:5967007LIEEXZXIFE872",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"s6_notes__6__64": {
"value": "2.19 CASH FLOW STATEMENT The cash flow statement has been prepared based on the indirect method.",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForCashFlowsExplanatory",
"language": "en",
"entity": "scheme:5967007LIEEXZXIFE872",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"s6_notes__6__65": {
"value": "2.20 EARNINGS PER SHARE The basic earnings per share and diluted earnings per share are presented for ordinary shares. The basic earnings per share are calculated by dividing the period\u2019s earnings attributable to owners of the ordinary shares adjusted for the number of own shares. Diluted earnings per share are calculated by adjusting the earnings and the weighted average number of ordinary outstanding shares, adjusted for the number of own shares, for potential dilution effects.",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForEarningsPerShareExplanatory",
"language": "en",
"entity": "scheme:5967007LIEEXZXIFE872",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"s6_notes__6__68": {
"value": "2.21 FINANCIAL INCOME AND COST Financial income consists of capital gains on financial investments and changes to fair value of financial assets to fair value in profit and loss. Interest income is recognised in profit and loss using the effective interest method. Financial costs comprise interest costs on loans, the effect of interest in discounted accruals, changes to the fair value of financial assets to fair value in profit and loss, and impairment of financial assets. Borrowing costs not directly attributable to acquisition, processing or production of a qualifying asset, are included in profit and loss using the effective interest rate method. Foreign currency gains and losses are reported as net.",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForInterestIncomeAndExpenseExplanatory",
"language": "en",
"entity": "scheme:5967007LIEEXZXIFE872",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"s6_notes__6__67": {
"value": "2.21 FINANCIAL INCOME AND COST Financial income consists of capital gains on financial investments and changes to fair value of financial assets to fair value in profit and loss. Interest income is recognised in profit and loss using the effective interest method. Financial costs comprise interest costs on loans, the effect of interest in discounted accruals, changes to the fair value of financial assets to fair value in profit and loss, and impairment of financial assets. Borrowing costs not directly attributable to acquisition, processing or production of a qualifying asset, are included in profit and loss using the effective interest rate method. Foreign currency gains and losses are reported as net.",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForFinanceCostsExplanatory",
"language": "en",
"entity": "scheme:5967007LIEEXZXIFE872",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"s6_notes__6__66": {
"value": "2.21 FINANCIAL INCOME AND COST Financial income consists of capital gains on financial investments and changes to fair value of financial assets to fair value in profit and loss. Interest income is recognised in profit and loss using the effective interest method. Financial costs comprise interest costs on loans, the effect of interest in discounted accruals, changes to the fair value of financial assets to fair value in profit and loss, and impairment of financial assets. Borrowing costs not directly attributable to acquisition, processing or production of a qualifying asset, are included in profit and loss using the effective interest rate method. Foreign currency gains and losses are reported as net.",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForFinanceIncomeAndCostsExplanatory",
"language": "en",
"entity": "scheme:5967007LIEEXZXIFE872",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"s6_notes__6__70": {
"value": "2.23 CONTINGENT LIABILITIES AND ASSETS Contingent liabilities are not recognized in financial statements. Significant contingent liabilities are disclosed, except for contingent liabilities that are unlikely to be incurred. Liabilities are recognised unless a reliable estimate can not be made. If no reliable estimate can be made, the group accounts for the liability as a contingent liability.",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForContingentLiabilitiesAndContingentAssetsExplanatory",
"language": "en",
"entity": "scheme:5967007LIEEXZXIFE872",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"s6_notes__6__71-1": {
"value": "3. Financial risk management 3.1 FINANCIAL RISK FACTORS The group\u2019s activities entail various types of financial risk; market risk (including currency risk and interest rate risk), credit risk, liquidity risk and operational risk. The Board of Directors has the primary responsibility for establishing and supervising the group\u2019s framework for risk management. Risk management principles were established to identify and analyse the risk to which the group is exposed. Principles and systems for risk management are regularly reviewed to reflect any changes in activities and market conditions. The audit committee reviews management\u2019s monitoring of the group\u2019s principles and procedures for risk management. The group\u2019s main risk management plan focuses on the unpredictability of the capital market and attempts to minimise its potentially negative effects on the group\u2019s financial results. The group engages in international operations and is especially exposed to currency risk. The group uses hedging to reduce the risk of currency exposure. The group has a decentralised structure with operational supervision of the various business units, where the main management of financial risk is determined by the Board of Directors. This applies to areas such as currency risk, interest rate risk, credit risk and use of financial derivatives. For the classification of financial assets and liabilities, reference is made to Note 19. MARKET RISK Market risk is the risk of changes to market prices, such as foreign exchange rates interest and commodities, affecting the income or value of financial instruments. Management of market risk intends to monitor that risk exposure lies within a set framework. The companies of the group buy and sell financial derivatives and incur financial obligations to control market risk. Transactions are carried out within the guidelines issued by the group. Hedge accounting is used for FX contracts that qualify for hedge accounting. The remaining contracts are measured at fair value through profit and loss. There are a number of risks related to the market development for Nekkar\u2019s products and services. Nekkar monitors these risks through its sales network and by monitoring relevant available information on trends like shipyard utilisation indicators, investment trends and oil prices. Within Syncrolift AS, the order backlog is strong and represents a solid operational foundation for the coming periods. Future demand for the current product portfolio depends on the shipyards\u2019 need to implement more efficient production lines. Currently, there are no signs that the yard industry\u2019s focus on restructuring and increased productivity will diminish. From the volume of identified prospects, we expect there is potential for further growth in the segment. Renewables and aquaculture are still product development projects. For these business areas the risk factors mainly relate to commercialisation of the products and solutions. Intellilift has a proven commercialised technology and the products have been sold to both oil-gas related business and wind industry. However, a potential downturn in the oil-gas market may impact the market outlook for some of these products. Further description of the group\u2019s market risk can be found in the Directors\u2019 report. a) Currency risk The group operates worldwide and is exposed to currency risk in foreign currencies. Exposure to the risk in foreign exchange rates relates primarily to the group\u2019s operating activities (when revenue or expense is denominated in foreign currencies). The group manages its foreign currency risk by hedging the net exposure in foreign currencies, which is mainly USD and EUR. Currency cash flow forecasts are reviewed on a regular basis and the group aims to hedge a portion of the forecasted net currency exposure that matures within a 24-months period. Forward exchange contracts are used as hedging instruments, and they are designated as hedges of firm commitments for those hedging relationships that qualify for hedge accounting. When necessary, forward exchange contracts are prolonged as they mature. A 10 percent fluctuation in the USD/NOK and EUR/NOK rate compared to the 2023 average would have impacted 2023 operating profit by around NOK 15 million and NOK 2 million respectively. Due to Nekkar\u2019s hedging policy, much of this impact would have been offset, as changes in the fair value of hedging instruments would be recognised as financial income or expense.On 31 December 2023 the Group has accounts receivables, contract assets and accounts payable in addition to FX derivatives. The net effect on this items in not considered to be significant due to the hedging instruments.For other monetary assets and obligations in foreign currency, net exposure is monitored, and is adjusted by purchasing and selling foreign currency when necessary. The group has insignificant investments in foreign subsidiaries where net assets are exposed to currency risk at conversion of currency. b) Interest rate risk Interest rate risk is the risk that the fair value or future cash flows of a financial instrument will fluctuate because of changes in market interest rates. As per 31 December 2023, the group does not have any interest-bearing debt, hence no material exposure to the risk of changes in market interest rates. The group\u2019s surplus liquidity is in the form of bank deposits. Any divergence from the use of a floating rate of interest and placement of surplus liquidity shall be determined by the Board of Directors. Items exposed to interest rate risk are mainly related to bank deposits and undrawn credit facilities. c) Price risk The group is exposed to fluctuations in market prices in the operational areas related to contracts, including changes in market prices for raw materials and equipment and development in wages. These risks are to the extent possible managed in the bid processes by locking in committed prices from vendors as a basis for offers to customers, or by striving to place purchase orders to vendors as soon as possible after contract signing or through escalation clauses with customers. Furthermore, the majority of Nekkar\u2019s long-term service contracts with customers have built-in clauses that ensure annual inflation adjustments that correspond to recognised consumer price indices or similar. Nekkar also has internal processes in place to effectively manage price risk, including mandatory internal controls and safeguarding processes for tenders and contracts. CREDIT RISK Credit risk is the risk that a counterparty will not meet its obligations under a financial instrument or customer contract, leading to a financial loss. The group is exposed to credit risk from its operating activities (primarily for trade receivables and contract assets) and from its financing activities, including deposits with bank and financial institutions, foreign exchange transactions and other financial instruments. Credit risk is handled at a corporate level. The credit risk is reduced through distribution on several counterparts. Requirements to credit ratings have been established toward counterparts, and new customers are subject to credit rating test. In order to minimise the risk of losses the group applies comprehensive use of Letters of Credit toward its customers. The group carries out assessment of credit risk to the political structure depending on the economic importance of the agreements based on assessments from the OECD and other equivalent factors. Maximum risk exposure is represented by the extent of financial assets recognised in the balance sheet. Please find additional information in Note 19. The counterparties for derivatives and bank deposits are investment grade rated banks (Nordea and DNB), and the credit risk related to these are considered insignificant. As of 31.12, the group had the following maturity distribution on its trade receivables: 0-3 3-6 >6 (NOK Not months months months 1000) Totaldueoverdueoverdueoverdue31.12.2023 85 269 - 407 62 583 5 983 18 11031.12.2022 106 875 28 488 56 321 -1 248 23 314For accounts receivable that are not yet due, the assessment is, based on previous experience, that there is no need to impair the value. Accounts receivable relate to independent customers who have no previous history of failing to fulfill their obligations to the group. Invoicing is largely done in accordance with milestone-based progress in each project. The above table is presented net of bad debt provisions. As per 31 December 2023, a provision NOK 19 million is included due to uncertainty for payment in two projects. Hence, the gross amount of accounts receivables > 6 months overdue is NOK 37 million. The change in provision for bad debt in 2023 of NOK 6,68 million is recognised as other operational expenses and relates to claim in note 23. The Group has experienced solely historical non-material losses and does not acknowledge any Expected Credit Losses (ECL) beyond those associated with the two aforementioned projects.Additional information on accounts receivable is available in Note 9. LIQUIDITY RISK Liquidity risk is the risk of the group being unable to fulfill its financial obligations as they fall due. Liquidity risk management implies maintaining Remaining period: Amounts in NOK 1000 < 6 months 6-12 months 3-5 years > 5 years Total2023Long-term financial obligations: Interest-bearing non-current liabilities - - - - -Current financial obligations: - - - - -FX-derivatives - - - - -Accounts payable and other current liabilities 103 542 - - - 103 542Total financial obligations 103 542 - - - 103 5422022Long-term financial obligations: Interest-bearing non-current liabilities - - - - -Current financial obligations: - - - - -FX-derivatives 3 988 - 3 208 - 7 196Accounts pauable and other current liabilities 101 841 - - - 101 841Total financial obligations 105 829 - 3 208 - 109 037Total financial obligations exclude both current and non-current lease liabilitiessufficient cash and committed credit facilities for the group to meet obligations as they mature for payment. As of 31 December 2023, the group\u2019s credit facilities include a guarantee and derivatives facility of NOK 350 million, an overdraft facility of NOK 100 million and a revolving credit facility of NOK 100 million. All facilities are with Nordea. As per 31 December 2023, the group had drawn NOK 164 million of the guarantee facility. No amount has been drawn on the overdraft and the revolving credit facility. The group is continuously focusing on efficient management of working capital to optimise cash flow from operations. The group has established a joint cash pool arrangement. The cash pool arrangement improves accessibility and flexibility in the management of liquidity funds. The group\u2019s liquidity development is continuously monitored based on liquidity forecasts from the business units. The group\u2019s strategy is always to have sufficient cash reserves or credit facilities available to be able to finance its operations and investments.The table below gives an overview of the structure of maturity of the group\u2019s financial obligations. Current and non current lease liabilities are not included. CLIMATE RISK Nekkar develops digitalised impact technologies that aim to unlock customer value, including reduction of environmental footprint and CO2-emissions, in numerous industries including renewables, aquaculture, shipping and offshore energy. As such, climate change represents both a risk and an opportunity for Nekkar. Nekkar considers its main climate risks to be associated with the global ambition/implementation gap for the transition to more renewable energy, as well as climate policy and taxation changes that could limit or delay the adoption of Nekkar\u2019s new technologies that are enablers to reduce the carbon footprint in the industries the company operates. This applies to both the renewables and aquaculture industries. Nekkar\u2019s exposure to the oil and gas industry is limited today but could grow in the coming years. The offshore energy industry has been identified as high risk by the Task Force on Climate-Related Financial Disclosures, and the industry is under pressure to reduce its emissions. Although the Ukraine war and associated energy shortage in Europe is likely to result in heavy investments in the offshore energy industry in the coming years, there is a long-term risk of declining investment in upstream oil and gas. However, the software and technologies that Nekkar delivers are capable of significantly reducing drilling time and amount of personnel required offshore, thereby substantially reducing the carbon footprint associated with this type of offshore operations. As such, climate-related risks also represent an opportunity for Nekkar. The energy transition may shorten the expected useful lives of oil and gas-related assets, which can accelerate depreciation charges. However, Nekkar is primarily a software supplier to the oil and gas industry, which means that the company does not expect assessment of the effect on useful lives to have significant accounting impact. Another climate risk is the increase in the frequency and intensity of extreme weather events. As the large majority of Nekkar\u2019s operations in based in Norway, this expectation is not assessed to lead to any effects on expected useful economic life of property, plant and equipment. However, extreme weather could result in delayed project progress, for example for installation of shiplifts in parts of the world that are more exposed to extreme weather. This could potentially mean that revenue and margin recognition could be delayed in such projects. Nekkar has not experienced any delays caused by extreme weather events during 2023. Overall, it is Nekkar\u2019s view that the company is well positioned to profit from a stronger focus on reducing emissions from the industries the company operates within, and that there are more positive business opportunities than negative risks associated with stronger industry efforts on reducing emissions and combating climate change. Nekkar has considered the impact of climate change on going concern. Effective assessment and analysis of climate-related risks and opportunities is vital to understand the potential impacts of climate-related risks on asset valuations, revenue and investment requirements. For 2023, Nekkar has therefore defined an objective to conduct a detailed climate risk analysis and set carbon footprint reduction goals for the company. OPERATIONAL RISK Operational risk is the risk of direct or indirect losses because of a whole range of causes related to the group\u2019s processes, personnel, technology and infrastructure, as well as external factors besides of credit risk, market risk and liquidity risk that follow from laws, rules and generally accepted principles for business conduct. Operational risk arises in all the group\u2019s business areas. The group\u2019s deliveries are primarily organised in the form of projects. The group continuously strives to improve operations and projects implementation. This further includes operational and financial qualification of major sub-suppliers to reduce project completion risk. The group handles operational risk so that a balance is reached between avoiding economic loss or damage to the group\u2019s reputation, general cost effectiveness, and avoiding control routines that limit initiative and creativity. The responsibility to develop and implement controls designed to handle operational risk is allocated to the top management within each business area. This responsibility is supported by developing the overall group standard for management of operational risk in various areas. 3.2 ESTIMATION OF FAIR VALUE The fair value of financial instruments traded in an active market is based on the market value on the balance sheet date. The group has no such items in the financial statement. Fair value of financial instruments not traded in an active market is estimated using valuation techniques (primarily discounted future prospective cash flows) or other relevant information for giving a best estimate of fair value on the balance sheet date. Examples of this are forward contracts in foreign currencies where fair value is calculated by using the change in the currency on the balance sheet date. Fair value of drawings/technology acquired in a business combination is determined using the relief of royalty method. The valuation is based on the concept that if the company owns a technology, it does not have to rent, and is then relieved from paying a royalty. The fair value of other intangible assets is based on the discounted cash flows expected to be derived from the use and eventual sale of the assets.Note 20 Financial risk management Amounts in NOK 1000The following table shows the carrying amount and fair values of financial assets and financial liabilities, including their levels in the fair value hierarchy. It does not include fair value information for financial assets and financial liabilities not measured at fair value if the carrying amount is a reasonable approximation of fair value.Financial assets and liabilities are described in Accounting Principles, under sections 2.8, 2.9, 2.10, 2.12, 2.13 and 2.14.Risks associated with the underlying estimates of the recognised values and financial risk management is described in Accounting Principles, ref section 3. .Financial derivative contracts Financial derivative Loans, not designated for hedging / contracts designated cash and Classification of financial assetsineffective hedgesfor hedgingreceivables Total2023Non current financial assets:Shares available for sale - - - - Other receivables - - - - Financial current assets:Trade receivables - - 85 270 85 270 Other current receivables - - 6 387 6 387 Accrued, non-invoiced production - - 144 007 144 007 1)Derivatives 20 144 - 20 144 Prepayment to suppliers - - 194 162 194 162 Cash and cash equivalents - - 429 826 449 970 Total financial assets 20 144 - 408 898 408 898 2022Non current financial assets:Shares available for sale - - - - Other receivables - - - - Financial current assets:Trade receivables - - 106 875 106 875 Other current receivables - - 7 126 7 126 Accrued, non-invoiced production - - 113 616 113 616 1)Derivatives - - - Prepayment to suppliers - - - - Cash and cash equivalents - - 181 281 181 281 Total financial assets - - 408 898 408 898 1) Fair value of financial liabilities: The Group\u2019s derivatives consist of forward currency contracts. Fair value of forward currency contracts is determined by utilising market-to-market rate on the balance-sheet date as stated by the Group\u2019s bank. Fair value relating to non-current debt is considered approximately equal to carrying value, as loans are given at market terms and with a floating rate.Financial derivative Financial derivative Other contracts not designated for contracts designated financial Classification of financial liabilities:hedging / ineffective hedgesfor hedgingliabilities Total2023Non-current financial liabilitiesInterest-bearing non-current debt - - - - Current financial liabilitiesFirst year instalment of non-current debt - - - - Interest-bearing current liabilities - - - - Prepayments from customers - - 39 002 39 002 1)Derivatives - - - Accounts payable and other short-term liabilities - - 103 542 103 542 Total financial liabilities - - 142 544 142 544 2022Non-current financial liabilitiesInterest-bearing non-current debt - - - - Current financial liabilitiesFirst year instalment of non-current debt - - - - Interest-bearing current liabilities - - - - Prepayments from customers - - 42 418 42 418 1)Derivatives 7 171 27 - 7 198 Accounts payable and other short-term liabilities - - 101 840 101 840 Total financial liabilities 7 171 27 144 259 151 457 1) Fair value of financial liabilities: The Group\u2019s derivatives consist of forward currency contracts. Fair value of forward currency contracts is determined by utilising market-to-market rate on the balance-sheet date as stated by the Group\u2019s bank. Fair value relating to non-current debt is considered approximately equal to carrying value, as loans are given at market terms and with a floating rate.The Group uses the following hierarchy for determining and disclosing the fair value of financial instruments by valuation technique:\u2022 Level 1: Quoted (unadjusted) prices in active markets for identical assets or liabilities\u2022 Level 2: Other techniques for which all inputs which have a significant effect on the recorded fair value are observable, either directly or indirectly\u2022 Level 3: Techniques which use inputs which have a significant effect on the recorded fair value that are not based on observable market data.2023 2022Overall Level 1 Level 2 Level 3 Overall Level 1 Level 2 Level 3Assets measured at fair valueForeign exchange contracts - non-hedging Foreign exchange contracts - hedging - - - - - - - - 20 144 - 20 144- - - - - Liabilities measured at fair valueForeign exchange contracts - hedging - - - - 27 - 27 - Foreign exchange contracts - non-hedging - - - - 7 171 - 7 171 -",
"dimensions": {
"concept": "ifrs-full:DisclosureOfFinancialRiskManagementExplanatory",
"language": "en",
"entity": "scheme:5967007LIEEXZXIFE872",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"s6_notes__6__72": {
"value": "MARKET RISK Market risk is the risk of changes to market prices, such as foreign exchange rates interest and commodities, affecting the income or value of financial instruments. Management of market risk intends to monitor that risk exposure lies within a set framework. The companies of the group buy and sell financial derivatives and incur financial obligations to control market risk. Transactions are carried out within the guidelines issued by the group. Hedge accounting is used for FX contracts that qualify for hedge accounting. The remaining contracts are measured at fair value through profit and loss. There are a number of risks related to the market development for Nekkar\u2019s products and services. Nekkar monitors these risks through its sales network and by monitoring relevant available information on trends like shipyard utilisation indicators, investment trends and oil prices. Within Syncrolift AS, the order backlog is strong and represents a solid operational foundation for the coming periods. Future demand for the current product portfolio depends on the shipyards\u2019 need to implement more efficient production lines. Currently, there are no signs that the yard industry\u2019s focus on restructuring and increased productivity will diminish. From the volume of identified prospects, we expect there is potential for further growth in the segment. Renewables and aquaculture are still product development projects. For these business areas the risk factors mainly relate to commercialisation of the products and solutions. Intellilift has a proven commercialised technology and the products have been sold to both oil-gas related business and wind industry. However, a potential downturn in the oil-gas market may impact the market outlook for some of these products. Further description of the group\u2019s market risk can be found in the Directors\u2019 report. a) Currency risk The group operates worldwide and is exposed to currency risk in foreign currencies. Exposure to the risk in foreign exchange rates relates primarily to the group\u2019s operating activities (when revenue or expense is denominated in foreign currencies). The group manages its foreign currency risk by hedging the net exposure in foreign currencies, which is mainly USD and EUR. Currency cash flow forecasts are reviewed on a regular basis and the group aims to hedge a portion of the forecasted net currency exposure that matures within a 24-months period. Forward exchange contracts are used as hedging instruments, and they are designated as hedges of firm commitments for those hedging relationships that qualify for hedge accounting. When necessary, forward exchange contracts are prolonged as they mature. A 10 percent fluctuation in the USD/NOK and EUR/NOK rate compared to the 2023 average would have impacted 2023 operating profit by around NOK 15 million and NOK 2 million respectively. Due to Nekkar\u2019s hedging policy, much of this impact would have been offset, as changes in the fair value of hedging instruments would be recognised as financial income or expense.On 31 December 2023 the Group has accounts receivables, contract assets and accounts payable in addition to FX derivatives. The net effect on this items in not considered to be significant due to the hedging instruments.For other monetary assets and obligations in foreign currency, net exposure is monitored, and is adjusted by purchasing and selling foreign currency when necessary. The group has insignificant investments in foreign subsidiaries where net assets are exposed to currency risk at conversion of currency. b) Interest rate risk Interest rate risk is the risk that the fair value or future cash flows of a financial instrument will fluctuate because of changes in market interest rates. As per 31 December 2023, the group does not have any interest-bearing debt, hence no material exposure to the risk of changes in market interest rates. The group\u2019s surplus liquidity is in the form of bank deposits. Any divergence from the use of a floating rate of interest and placement of surplus liquidity shall be determined by the Board of Directors. Items exposed to interest rate risk are mainly related to bank deposits and undrawn credit facilities. c) Price risk The group is exposed to fluctuations in market prices in the operational areas related to contracts, including changes in market prices for raw materials and equipment and development in wages. These risks are to the extent possible managed in the bid processes by locking in committed prices from vendors as a basis for offers to customers, or by striving to place purchase orders to vendors as soon as possible after contract signing or through escalation clauses with customers. Furthermore, the majority of Nekkar\u2019s long-term service contracts with customers have built-in clauses that ensure annual inflation adjustments that correspond to recognised consumer price indices or similar. Nekkar also has internal processes in place to effectively manage price risk, including mandatory internal controls and safeguarding processes for tenders and contracts.",
"dimensions": {
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"language": "en",
"entity": "scheme:5967007LIEEXZXIFE872",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"s6_notes__6__73": {
"value": "CREDIT RISK Credit risk is the risk that a counterparty will not meet its obligations under a financial instrument or customer contract, leading to a financial loss. The group is exposed to credit risk from its operating activities (primarily for trade receivables and contract assets) and from its financing activities, including deposits with bank and financial institutions, foreign exchange transactions and other financial instruments. Credit risk is handled at a corporate level. The credit risk is reduced through distribution on several counterparts. Requirements to credit ratings have been established toward counterparts, and new customers are subject to credit rating test. In order to minimise the risk of losses the group applies comprehensive use of Letters of Credit toward its customers. The group carries out assessment of credit risk to the political structure depending on the economic importance of the agreements based on assessments from the OECD and other equivalent factors. Maximum risk exposure is represented by the extent of financial assets recognised in the balance sheet. Please find additional information in Note 19. The counterparties for derivatives and bank deposits are investment grade rated banks (Nordea and DNB), and the credit risk related to these are considered insignificant. As of 31.12, the group had the following maturity distribution on its trade receivables: 0-3 3-6 >6 (NOK Not months months months 1000) Totaldueoverdueoverdueoverdue31.12.2023 85 269 - 407 62 583 5 983 18 11031.12.2022 106 875 28 488 56 321 -1 248 23 314For accounts receivable that are not yet due, the assessment is, based on previous experience, that there is no need to impair the value. Accounts receivable relate to independent customers who have no previous history of failing to fulfill their obligations to the group. Invoicing is largely done in accordance with milestone-based progress in each project. The above table is presented net of bad debt provisions. As per 31 December 2023, a provision NOK 19 million is included due to uncertainty for payment in two projects. Hence, the gross amount of accounts receivables > 6 months overdue is NOK 37 million. The change in provision for bad debt in 2023 of NOK 6,68 million is recognised as other operational expenses and relates to claim in note 23. The Group has experienced solely historical non-material losses and does not acknowledge any Expected Credit Losses (ECL) beyond those associated with the two aforementioned projects.Additional information on accounts receivable is available in Note 9.",
"dimensions": {
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"language": "en",
"entity": "scheme:5967007LIEEXZXIFE872",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"s6_notes__6__74": {
"value": "LIQUIDITY RISK Liquidity risk is the risk of the group being unable to fulfill its financial obligations as they fall due. Liquidity risk management implies maintaining Remaining period: Amounts in NOK 1000 < 6 months 6-12 months 3-5 years > 5 years Total2023Long-term financial obligations: Interest-bearing non-current liabilities - - - - -Current financial obligations: - - - - -FX-derivatives - - - - -Accounts payable and other current liabilities 103 542 - - - 103 542Total financial obligations 103 542 - - - 103 5422022Long-term financial obligations: Interest-bearing non-current liabilities - - - - -Current financial obligations: - - - - -FX-derivatives 3 988 - 3 208 - 7 196Accounts pauable and other current liabilities 101 841 - - - 101 841Total financial obligations 105 829 - 3 208 - 109 037Total financial obligations exclude both current and non-current lease liabilitiessufficient cash and committed credit facilities for the group to meet obligations as they mature for payment. As of 31 December 2023, the group\u2019s credit facilities include a guarantee and derivatives facility of NOK 350 million, an overdraft facility of NOK 100 million and a revolving credit facility of NOK 100 million. All facilities are with Nordea. As per 31 December 2023, the group had drawn NOK 164 million of the guarantee facility. No amount has been drawn on the overdraft and the revolving credit facility. The group is continuously focusing on efficient management of working capital to optimise cash flow from operations. The group has established a joint cash pool arrangement. The cash pool arrangement improves accessibility and flexibility in the management of liquidity funds. The group\u2019s liquidity development is continuously monitored based on liquidity forecasts from the business units. The group\u2019s strategy is always to have sufficient cash reserves or credit facilities available to be able to finance its operations and investments.The table below gives an overview of the structure of maturity of the group\u2019s financial obligations. Current and non current lease liabilities are not included.",
"dimensions": {
"concept": "ifrs-full:DisclosureOfLiquidityRiskExplanatory",
"language": "en",
"entity": "scheme:5967007LIEEXZXIFE872",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"s6_notes__6__78": {
"value": "4. Use of judgement and estimates The key assumptions concerning the future and other key sources of estimation uncertainty at the reporting date, that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year, are described below. The group based its assumptions and estimates on parameters available when the consolidated financial statements were prepared. Existing circumstances and assumptions about future developments, however, may change due to market changes or circumstances arising beyond the control of the group. Such changes are reflected in the assumptions when they occur. In preparing these consolidated financial statements, management has made judgements, estimates and assumptions that affect the reported amounts of assets, liabilities, income and expenses. Actual results may differ from these estimates. Estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to estimates are recognised prospectively. a) Judgements Information about judgements made in applying accounting policies that have the most significant effects on the amounts recognized in the consolidated financial statements is included below and in respective notes: Revenue recognition - Right to payment (IFRS 15): For contracts with no termination for convenience clause, the group\u2019s enforceable right to payment is subject to general law in the relevant jurisdiction. In most cases with termination, the group is responsible for mitigating the customer\u2019s losses by maximising revenue from alternative sources. Based on historic numbers and current estimates, alternative revenue sources are considered insignificant. Consequently, the major portion of a contract\u2019s value and company profit will be compensated by the initial contract holder. The estimation of total contract costs involves judgment and is susceptible to change. These cost estimates wield significant influence on revenue recognition, especially in contracts utilising cost progress, such as lump sum construction contracts. The accurate forecasting of total project costs hinges on several factors, including the effective execution of the engineering and design phase, availability of skilled resources, manufacturing capacity, productivity and quality considerations, subcontractor performance, and occasionally, weather conditions.b) Assumptions and estimation uncertainties Information about assumptions and estimation uncertainties that have a risk of resulting in a material adjustment to the carrying amounts of assets and liabilities within the year ending 31 December 2023 is included below and in respective notes: Warranty liability: The group customarily offers a warranty period of one or three years on its delivered products. Management estimates accruals for future guaranteed commitments based on information from historical guaranteed claims, together with updated information of the quality of recent deliveries. Factors that may affect estimated obligations include the outcome of productivity and quality initiatives, reference prices and labor costs.",
"dimensions": {
"concept": "ifrs-full:ExplanationOfAssumptionAboutFutureWithSignificantRiskOfResultingInMaterialAdjustments",
"language": "en",
"entity": "scheme:5967007LIEEXZXIFE872",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
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},
"s6_notes__6__77": {
"value": "4. Use of judgement and estimates The key assumptions concerning the future and other key sources of estimation uncertainty at the reporting date, that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year, are described below. The group based its assumptions and estimates on parameters available when the consolidated financial statements were prepared. Existing circumstances and assumptions about future developments, however, may change due to market changes or circumstances arising beyond the control of the group. Such changes are reflected in the assumptions when they occur. In preparing these consolidated financial statements, management has made judgements, estimates and assumptions that affect the reported amounts of assets, liabilities, income and expenses. Actual results may differ from these estimates. Estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to estimates are recognised prospectively. a) Judgements Information about judgements made in applying accounting policies that have the most significant effects on the amounts recognized in the consolidated financial statements is included below and in respective notes: Revenue recognition - Right to payment (IFRS 15): For contracts with no termination for convenience clause, the group\u2019s enforceable right to payment is subject to general law in the relevant jurisdiction. In most cases with termination, the group is responsible for mitigating the customer\u2019s losses by maximising revenue from alternative sources. Based on historic numbers and current estimates, alternative revenue sources are considered insignificant. Consequently, the major portion of a contract\u2019s value and company profit will be compensated by the initial contract holder. The estimation of total contract costs involves judgment and is susceptible to change. These cost estimates wield significant influence on revenue recognition, especially in contracts utilising cost progress, such as lump sum construction contracts. The accurate forecasting of total project costs hinges on several factors, including the effective execution of the engineering and design phase, availability of skilled resources, manufacturing capacity, productivity and quality considerations, subcontractor performance, and occasionally, weather conditions.b) Assumptions and estimation uncertainties Information about assumptions and estimation uncertainties that have a risk of resulting in a material adjustment to the carrying amounts of assets and liabilities within the year ending 31 December 2023 is included below and in respective notes: Warranty liability: The group customarily offers a warranty period of one or three years on its delivered products. Management estimates accruals for future guaranteed commitments based on information from historical guaranteed claims, together with updated information of the quality of recent deliveries. Factors that may affect estimated obligations include the outcome of productivity and quality initiatives, reference prices and labor costs.",
"dimensions": {
"concept": "ifrs-full:DisclosureOfAccountingJudgementsAndEstimatesExplanatory",
"language": "en",
"entity": "scheme:5967007LIEEXZXIFE872",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"s6_notes__6__79": {
"value": "Note 1 Operating segments Amounts in NOK 1000The segments structure in Nekkar are as follows:Consist ofSyncrolift: The Syncrolift segment includes shiplifts, docking/transfer systems and related service activity for shipyards. The main operating entity in this segment is Syncrolift AS with its head office in Vestby, Norway. Syncrolift also has local presence in important markets through subsidiaries in the US and in Singapore alongside a sales/service office in Dubai.Syncrolift is the global market leader for shiplifts and transfer systems offered to repair and newbuilding yards. They deliver turnkey and customised solutions to commercial yards and navy bases around the world. The product range includes shiplifting systems for launching and retrievals of vessels and transfer systems for a fast and reliable way of moving vessels around the yard.Capitalised development costs amounted to NOK amounted to NOK 0 million for 2023. Intellilift Collecting data from numerous different sensors, will improve the real time operation as well as enable remote operation and robotisation. The business model is threefold \u2013 project based, perpetual upfront software licenses and software as service licenses, depending on customer preferences. As per 2023, revenue is mainly project based as Intellilift has during the second quarter successfully delivered the first InteliAutomate solution to a customer.Techano Oceanlift In 2023, Techano Oceanlift marks a new addition to Nekkar\u2019s business portfolio. The acquisition was finalised at the close of Q1 2023. The company specialises in advanced load handling and lifting equipment for the aquaculture and offshore energy industry, with products such as cranes, gangways, and fish transfer systems. Techano Oceanlift has a strong base of engineering expertise. Currently, these resources are actively engaged in the development of innovative solutions for the SOV market, including 3D cranes and gangways.Other Includes group functions in the parent company, the advancement of impact technology ventures including Fiizk, SkyWalker and group eliminations.Fiizk, is an entety that delivers and develops intelligent closed cage system equipped with advanced sensors and a high degree of autonomy. The development of a fully automatet closed fish cage called Starfish was incorporated into Fiizk. As of 31 December 2023 the book value of Fiizk was MNOK 47.7.The SkyWalker project, is a ground-breaking wind turbine installation and service technology tool suitable for onshore and offshore wind. Capitalised development costs of SkyWalker amounted to NOK 0.5 million in 2023.Development costs related to both SkyWalker are partly funded by external contributions from Innovation Norway, Norges forskningsr\u00e5d and Skattefunn. Change in segments The change in segments from 2022 consits of a new subsidiary acquired in 2023 Techano Oceanlift AS. The segment of Syncrolift is equal to 2022 BU SYS and Intellilift is equal to 2022 Digital. 2023 2022Techano Other/Other/Syncrolift Intellilift Oceanlift Elim Total BU SYS DigitalElim TotalExternal revenue 515 204 29 125 30 336 422 575 086 383 138 4 365 - 387 503 Internal revenue 290 4 729 - 9 395 14 414 285 18 018 11 539 29 842 Total revenue 515 494 33 854 30 336 9 816 589 500 383 423 22 384 11 539 417 346 Intergroup eliminations -290 -4 729 -9 395 -14 414 -285 -18 018 -11 539 -29 842 Consolidated revenue 515 204 29 125 30 336 422 575 086 383 138 4 365 - 387 503 Earnings before depreciation, finance and tax (EBITDA) 131 863 6 184 1 075 -30 365 108 758 92 680 4 012 -29 393 67 299 Depreciation/amortisation 1 814 1 512 97 4 261 7 685 1 663 1 350 7 463 10 475 Operating profit/(loss) 130 049 4 672 978 -34 626 101 073 91 017 2 662 -36 856 56 824 Net finance 10 708 135 1 498 -4 150 8 191 -11 850 -50 -2 290 -14 190 Segment profit/(loss) before tax 140 757 4 807 2 476 -38 776 109 264 79 168 2 612 -39 146 42 634 Income tax expense 31 551 1 056 282 -6 618 25 955 17 344 740 -8 104 9 981 Profit after tax 109 206 3 751 456 25 955 83 309 61 823 1 872 -31 042 32 654 This year\u2019s capital expenditures 1 115 553 6 354 10 645 18 667 6 378 13 043 22 401 22 401 Capital expenditureCapital expenditure is net amount of money spent on aquiring or maintaining assets and grants recived.Information about geographical areasThe activity are primarily distributed in the following regions:Revenue 2023 2022Europa 86 266 34 952 Asia/Australia/NZ 45 484 39 727 North America 3 662 135 870 UAE 95 476 10 913 Africa 12 842 11 279 USA 147 662 159 South America 4 803 3 842 India 177 556 149 013 Norway 1 335 1 165 Other - 584 Total revenue 575 086 387 503 In addition to generating NOK 4.5 million in revenue in North America, Intellilift and Techano Oceanlift each contribute 100 percent of their revenue from Europe and Norway. Syncrolift is responsible for the remaining revenue from other geographical areas. Sales are allocated based on the customer\u2019s country of domicile. Since revenue is project based, historic geographical allocation will not be representative for business going forward.During 2023 Syncrolift has three customers that each accounted for more than 10 percent of the consolidated revenue.These customers generated revenue of NOK 121 million, NOK 97 million and NOK 93 million respectively. In 2022 the revenue from the same customers was NOK 83 million, NOK 3 million and NOK 138 million.",
"dimensions": {
"concept": "ifrs-full:DisclosureOfEntitysReportableSegmentsExplanatory",
"language": "en",
"entity": "scheme:5967007LIEEXZXIFE872",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"s6_notes__6__83": {
"value": "Note 2 Revenue Amounts in NOK 1000Revenue streams Description of revenue streams are presented under \u201cAccounting principles\u201d in section 2.20.2023 20221)Revenue from construction contracts recognised over time 515 502 315 350 Revenue from construction contracts recognised point in time - - Sale of spareparts 50 002 -Revenue from service contracts 9 161 67 788 Other operating revenue 422 4 365 Total revenue 575 086 387 503 1) Includes revenue for service contracts recognised over timeContract balances2023 2022Trade receivable 85 269 106 875 Contract assets 144 007 113 616 Contract liabilitites 39 002 42 418 Customer contract assets relate to consideration for work completed, but not yet invoiced at the reporting date. The contract assets are transferred to trade receivables when the right to payment become unconditional, which usually occurs when invoices are issued to the customers. Contracts liabilities relates to advance consideration received from customer on work not yet completed. This is classified as prepayments from customer in the consolidated statement of financial position. Contract liablilities reported on the balance sheet as of 2022 has all been recognised as revenue in 2023 (for 2022 MNOK 29).Disaggregation of revenue from contracts with customersRevenue from contracts with customers is disaggregated by primary geographical market under segment information in note 1.Transaction price allocated to the remaining performance obligationThe following table shows the remaining performance obligation on committed projects:2023 2022Contracted revenue projects and long-term service contracts 1 821 048 1 510 943 Accumulated Revenue recognised per 31 December 1 017 562 686 991 Aggregated amount of the transaction price allocated to unsatisfied performance obligation 803 486 823 952 Production time for typical shiplifts projects are up to 48 months, hence revenue allocated to the remaining performance obligation is expected to be recognised within the next 48 months. Service contracts has been entered into for a period of up 20 years. The typical service agreement is 1-3 years.",
"dimensions": {
"concept": "ifrs-full:DisclosureOfRevenueFromContractsWithCustomersExplanatory",
"language": "en",
"entity": "scheme:5967007LIEEXZXIFE872",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"s6_notes__6__82": {
"value": "Note 2 Revenue Amounts in NOK 1000Revenue streams Description of revenue streams are presented under \u201cAccounting principles\u201d in section 2.20.2023 20221)Revenue from construction contracts recognised over time 515 502 315 350 Revenue from construction contracts recognised point in time - - Sale of spareparts 50 002 -Revenue from service contracts 9 161 67 788 Other operating revenue 422 4 365 Total revenue 575 086 387 503 1) Includes revenue for service contracts recognised over timeContract balances2023 2022Trade receivable 85 269 106 875 Contract assets 144 007 113 616 Contract liabilitites 39 002 42 418 Customer contract assets relate to consideration for work completed, but not yet invoiced at the reporting date. The contract assets are transferred to trade receivables when the right to payment become unconditional, which usually occurs when invoices are issued to the customers. Contracts liabilities relates to advance consideration received from customer on work not yet completed. This is classified as prepayments from customer in the consolidated statement of financial position. Contract liablilities reported on the balance sheet as of 2022 has all been recognised as revenue in 2023 (for 2022 MNOK 29).Disaggregation of revenue from contracts with customersRevenue from contracts with customers is disaggregated by primary geographical market under segment information in note 1.Transaction price allocated to the remaining performance obligationThe following table shows the remaining performance obligation on committed projects:2023 2022Contracted revenue projects and long-term service contracts 1 821 048 1 510 943 Accumulated Revenue recognised per 31 December 1 017 562 686 991 Aggregated amount of the transaction price allocated to unsatisfied performance obligation 803 486 823 952 Production time for typical shiplifts projects are up to 48 months, hence revenue allocated to the remaining performance obligation is expected to be recognised within the next 48 months. Service contracts has been entered into for a period of up 20 years. The typical service agreement is 1-3 years.",
"dimensions": {
"concept": "ifrs-full:DisclosureOfOtherOperatingIncomeExplanatory",
"language": "en",
"entity": "scheme:5967007LIEEXZXIFE872",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"s6_notes__6__81-1": {
"value": "Note 2 Revenue Amounts in NOK 1000Revenue streams Description of revenue streams are presented under \u201cAccounting principles\u201d in section 2.20.2023 20221)Revenue from construction contracts recognised over time 515 502 315 350 Revenue from construction contracts recognised point in time - - Sale of spareparts 50 002 -Revenue from service contracts 9 161 67 788 Other operating revenue 422 4 365 Total revenue 575 086 387 503 1) Includes revenue for service contracts recognised over timeContract balances2023 2022Trade receivable 85 269 106 875 Contract assets 144 007 113 616 Contract liabilitites 39 002 42 418 Customer contract assets relate to consideration for work completed, but not yet invoiced at the reporting date. The contract assets are transferred to trade receivables when the right to payment become unconditional, which usually occurs when invoices are issued to the customers. Contracts liabilities relates to advance consideration received from customer on work not yet completed. This is classified as prepayments from customer in the consolidated statement of financial position. Contract liablilities reported on the balance sheet as of 2022 has all been recognised as revenue in 2023 (for 2022 MNOK 29).Disaggregation of revenue from contracts with customersRevenue from contracts with customers is disaggregated by primary geographical market under segment information in note 1.Transaction price allocated to the remaining performance obligationThe following table shows the remaining performance obligation on committed projects:2023 2022Contracted revenue projects and long-term service contracts 1 821 048 1 510 943 Accumulated Revenue recognised per 31 December 1 017 562 686 991 Aggregated amount of the transaction price allocated to unsatisfied performance obligation 803 486 823 952 Production time for typical shiplifts projects are up to 48 months, hence revenue allocated to the remaining performance obligation is expected to be recognised within the next 48 months. Service contracts has been entered into for a period of up 20 years. The typical service agreement is 1-3 years.Note 15 Other operating expenses Amounts in NOK 10002023 2022Premises and office expenses 2 557 2 488 IT costs 5 147 4 384 Marketing and travel expenses 16 497 8 319 Consultancy and external services 12 720 11 640 Other expenses 4 499 5 951 Total other operating expenses 41 420 32 781",
"dimensions": {
"concept": "ifrs-full:DisclosureOfOtherOperatingIncomeExpenseExplanatory",
"language": "en",
"entity": "scheme:5967007LIEEXZXIFE872",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"s6_notes__6__80": {
"value": "Note 2 Revenue Amounts in NOK 1000Revenue streams Description of revenue streams are presented under \u201cAccounting principles\u201d in section 2.20.2023 20221)Revenue from construction contracts recognised over time 515 502 315 350 Revenue from construction contracts recognised point in time - - Sale of spareparts 50 002 -Revenue from service contracts 9 161 67 788 Other operating revenue 422 4 365 Total revenue 575 086 387 503 1) Includes revenue for service contracts recognised over timeContract balances2023 2022Trade receivable 85 269 106 875 Contract assets 144 007 113 616 Contract liabilitites 39 002 42 418 Customer contract assets relate to consideration for work completed, but not yet invoiced at the reporting date. The contract assets are transferred to trade receivables when the right to payment become unconditional, which usually occurs when invoices are issued to the customers. Contracts liabilities relates to advance consideration received from customer on work not yet completed. This is classified as prepayments from customer in the consolidated statement of financial position. Contract liablilities reported on the balance sheet as of 2022 has all been recognised as revenue in 2023 (for 2022 MNOK 29).Disaggregation of revenue from contracts with customersRevenue from contracts with customers is disaggregated by primary geographical market under segment information in note 1.Transaction price allocated to the remaining performance obligationThe following table shows the remaining performance obligation on committed projects:2023 2022Contracted revenue projects and long-term service contracts 1 821 048 1 510 943 Accumulated Revenue recognised per 31 December 1 017 562 686 991 Aggregated amount of the transaction price allocated to unsatisfied performance obligation 803 486 823 952 Production time for typical shiplifts projects are up to 48 months, hence revenue allocated to the remaining performance obligation is expected to be recognised within the next 48 months. Service contracts has been entered into for a period of up 20 years. The typical service agreement is 1-3 years.",
"dimensions": {
"concept": "ifrs-full:DisclosureOfRevenueExplanatory",
"language": "en",
"entity": "scheme:5967007LIEEXZXIFE872",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"s6_notes__6__86-1": {
"value": "Note 4 Payroll expenses and employee information Amounts in NOK 1000Payroll expenses 2023 2022Salaries 89 764 59 489Employer's social security contribution 13 725 9 530Pension cost 6 197 5 604Other benefits 4 126 3 671Total payroll expenses 113 812 78 294 Number of employees at the end of the year 92 731)Board remunerations2023 2022Trym Skeie Board member since 06.2008. 550 5002)Gisle Rike Board member since 06.2015. 347 3153)Ingunn Sveg\u00e5rden Board member since 10.2019 - 05.2023 347 315Marit Solberg Board member since 10.2019 347 315Trine Ulla Board member since 06.2023 - - H\u00e5kon Andre Berg Board member since 06.2023 - - Total 1 591 1 445 1) The Annual General Meeting determines the remuneration to the Board and nomination commitee from one General Meeting to the next. For the financial year 2023, the reported remuneration is related to the remuneration paid in 2023 based on the amounts determined by the Board at the Annual General Meeting for 2022. 2) Gisle Rike represents Rasmussengruppen and the Board fee is paid to Rasmussengruppen.3) Ingunn Sveg\u00e5rden was replaced by Trine Ulla at the general meeting 31.05.2023.The Board has not received any remuneration beyond Director\u2019s fee. No loans or severance pay is given to the Directors. Nomination committee remunerationNekkar\u2019s nomination committee comprised of the following members: Anne Grethe Ellingsen (Chair) and Ditlef de Vibe. The nomination committee remuneration paid in 2023 was TNOK 67 for the Chair and TNOK 40 for the member, a total of TNOK 107.Note 5 Pensions Amounts in NOK 1000The Group have established pension plans in accordance with local practice and law regulations. In general Nekkar has set up defined contribution plans for all employees. Annual contribution paid during the year is expensed when incurred. Reference is made to the remuneration report for further details.2023 2022Total pension cost Insured Uninsured Total Insured Uninsured Total+ Defined contribution plan 6 197 - 6 197 5 604 - 5 604 = Total pension cost 6 197 - 6 197 5 604 - 5 604 - of which recognised as payroll cost 6 197 6 197 5 604 5 604 - of which recognised as finance cost - - - - - -",
"dimensions": {
"concept": "ifrs-full:DisclosureOfInformationAboutEmployeesExplanatory",
"language": "en",
"entity": "scheme:5967007LIEEXZXIFE872",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"s6_notes__6__85-1": {
"value": "Note 4 Payroll expenses and employee information Amounts in NOK 1000Payroll expenses 2023 2022Salaries 89 764 59 489Employer's social security contribution 13 725 9 530Pension cost 6 197 5 604Other benefits 4 126 3 671Total payroll expenses 113 812 78 294 Number of employees at the end of the year 92 731)Board remunerations2023 2022Trym Skeie Board member since 06.2008. 550 5002)Gisle Rike Board member since 06.2015. 347 3153)Ingunn Sveg\u00e5rden Board member since 10.2019 - 05.2023 347 315Marit Solberg Board member since 10.2019 347 315Trine Ulla Board member since 06.2023 - - H\u00e5kon Andre Berg Board member since 06.2023 - - Total 1 591 1 445 1) The Annual General Meeting determines the remuneration to the Board and nomination commitee from one General Meeting to the next. For the financial year 2023, the reported remuneration is related to the remuneration paid in 2023 based on the amounts determined by the Board at the Annual General Meeting for 2022. 2) Gisle Rike represents Rasmussengruppen and the Board fee is paid to Rasmussengruppen.3) Ingunn Sveg\u00e5rden was replaced by Trine Ulla at the general meeting 31.05.2023.The Board has not received any remuneration beyond Director\u2019s fee. No loans or severance pay is given to the Directors. Nomination committee remunerationNekkar\u2019s nomination committee comprised of the following members: Anne Grethe Ellingsen (Chair) and Ditlef de Vibe. The nomination committee remuneration paid in 2023 was TNOK 67 for the Chair and TNOK 40 for the member, a total of TNOK 107.Statement regarding the stipulation of remuneration and other benefits for the CEO and other executivesRegarding Group management, Nekkar ASA\u2019s remuneration policy is based on offering competitive terms. Remunerations should reflect that Nekkar is a listed company with an international focus. The annual remuneration is based on Group managements part-taking in the results generated by the company and the added value for shareholders through increased company value. Remuneration consists of two main components; Base salary and bonus.\u2022 Base salaries is intented to be competetive and motivating, but in line with general market terms.\u2022 Bonus for the CEO and other executives is determined on the basis of target results and on individual targets. Bonus targets are revised annually and is limited to 50 percent of base salary for the CEO and other executives. Bonus payments reported in 2023 is based on the evaluation of the relevant performance criteria for the fiscal year ending 31 December 2023. Bonus payments are based on individual employment contracts. A bonus provision of MNOK 3,7 is included in other current liabilities per 31 December 2023 for the CEO and other executives based on the 2023 targets. The final bonus payment is to be approved by the board.Senior executives have notice six months, and severance pay periods of up to six months. Reference is made to remuneration report for further details.Remuneration and other benefits for the CEO and other senior executives employed during 2023Amounts in NOK 1000Remuneration of Auditor 2023 2022Base Statutory audit 1 847 1 294Other Other attestation services 11 75Bonus Other non-audit service - 108Pension Total Name Position1 858salary 1 477benefitspaidcostOle Falk Hansen CEO 3 022 22 579 168Preben Liltved COO (to 6.2023) 934 12 194 172Rolf-Atle Tomassen General Manager Syncrolift AS 1 967 38 580 195Mette Harv EVP Impact Technology Ventures 1 843 23 392 186Marianne Voreland Ottosen Head of finance 1 259 14 276 151Petter Br\u00f8vig Head of strategy 1 065 14 69 121Remunerations Taxable remunerationOther benefits Board remuneration, sing-on fee, car, group life insurance, phone, newspaper, etc.Bonus paid Bonus paid to employee in current yearNote 5 Pensions Amounts in NOK 1000The Group have established pension plans in accordance with local practice and law regulations. In general Nekkar has set up defined contribution plans for all employees. Annual contribution paid during the year is expensed when incurred. Reference is made to the remuneration report for further details.2023 2022Total pension cost Insured Uninsured Total Insured Uninsured Total+ Defined contribution plan 6 197 - 6 197 5 604 - 5 604 = Total pension cost 6 197 - 6 197 5 604 - 5 604 - of which recognised as payroll cost 6 197 6 197 5 604 5 604 - of which recognised as finance cost - - - - - -",
"dimensions": {
"concept": "ifrs-full:DisclosureOfEmployeeBenefitsExplanatory",
"language": "en",
"entity": "scheme:5967007LIEEXZXIFE872",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"s6_notes__6__84": {
"value": "Note 3 Inventories Amounts in NOK 10002023 2022Spareparts 8 996 1 145 Work in progress 3 341 1 172 Obsolescence -476 - Total inventories 11 861 2 317",
"dimensions": {
"concept": "ifrs-full:DisclosureOfInventoriesExplanatory",
"language": "en",
"entity": "scheme:5967007LIEEXZXIFE872",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"s6_notes__6__87": {
"value": "Statement regarding the stipulation of remuneration and other benefits for the CEO and other executivesRegarding Group management, Nekkar ASA\u2019s remuneration policy is based on offering competitive terms. Remunerations should reflect that Nekkar is a listed company with an international focus. The annual remuneration is based on Group managements part-taking in the results generated by the company and the added value for shareholders through increased company value. Remuneration consists of two main components; Base salary and bonus.\u2022 Base salaries is intented to be competetive and motivating, but in line with general market terms.\u2022 Bonus for the CEO and other executives is determined on the basis of target results and on individual targets. Bonus targets are revised annually and is limited to 50 percent of base salary for the CEO and other executives. Bonus payments reported in 2023 is based on the evaluation of the relevant performance criteria for the fiscal year ending 31 December 2023. Bonus payments are based on individual employment contracts. A bonus provision of MNOK 3,7 is included in other current liabilities per 31 December 2023 for the CEO and other executives based on the 2023 targets. The final bonus payment is to be approved by the board.Senior executives have notice six months, and severance pay periods of up to six months. Reference is made to remuneration report for further details.Remuneration and other benefits for the CEO and other senior executives employed during 2023Amounts in NOK 1000Remuneration of Auditor 2023 2022Base Statutory audit 1 847 1 294Other Other attestation services 11 75Bonus Other non-audit service - 108Pension Total Name Position1 858salary 1 477benefitspaidcostOle Falk Hansen CEO 3 022 22 579 168Preben Liltved COO (to 6.2023) 934 12 194 172Rolf-Atle Tomassen General Manager Syncrolift AS 1 967 38 580 195Mette Harv EVP Impact Technology Ventures 1 843 23 392 186Marianne Voreland Ottosen Head of finance 1 259 14 276 151Petter Br\u00f8vig Head of strategy 1 065 14 69 121Remunerations Taxable remunerationOther benefits Board remuneration, sing-on fee, car, group life insurance, phone, newspaper, etc.Bonus paid Bonus paid to employee in current year",
"dimensions": {
"concept": "ifrs-full:DisclosureOfInformationAboutKeyManagementPersonnelExplanatory",
"language": "en",
"entity": "scheme:5967007LIEEXZXIFE872",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"s6_notes__6__88": {
"value": "Amounts in NOK 1000Remuneration of Auditor 2023 2022Base Statutory audit 1 847 1 294Other Other attestation services 11 75Bonus Other non-audit service - 108Pension Total Name Position1 858salary 1 477benefitspaidcostOle Falk Hansen CEO 3 022 22 579 168Preben Liltved COO (to 6.2023) 934 12 194 172Rolf-Atle Tomassen General Manager Syncrolift AS 1 967 38 580 195Mette Harv EVP Impact Technology Ventures 1 843 23 392 186Marianne Voreland Ottosen Head of finance 1 259 14 276 151Petter Br\u00f8vig Head of strategy 1 065 14 69 121Remunerations Taxable remunerationOther benefits Board remuneration, sing-on fee, car, group life insurance, phone, newspaper, etc.Bonus paid Bonus paid to employee in current year",
"dimensions": {
"concept": "ifrs-full:DisclosureOfAuditorsRemunerationExplanatory",
"language": "en",
"entity": "scheme:5967007LIEEXZXIFE872",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"s6_notes__6__96-1": {
"value": "Note 6 Fixed assets Amounts in NOK 1000Starfish down- Right-of-use Furniture, office- scaled pilot assetequipment, etc. version Total2022 Financial yearBook value as of 1.1. 5 804 9 627 4 812 20 243 PPA Intellilift - - - - Additions - 2 427 - 2 427 Disposals - - - - Depreciation, amortisation and impairments -1 394 -2 245 -4 812 -8 451 Book value as of 31.12.2022 4 409 9 808 - 14 219 Acquisition cost 31.12. 8 429 38 463 5 500 52 392 Accumulated depreciation and impairments as of 31.12. -4 020 -28 652 -5 500 -38 171 Book value as of 31.12.2022 4 409 9 809 - 14 219 2023 Financial yearBook value as of 1.1. 4 409 9 809 - 14 219 Additions 12 043 1 906 13 949 Disposals - - - - Depreciation, amortisation and impairments -2 911 -2 528 - -5 439 Book value as of 31.12.2023 13 541 9 186 - 22 727 Acquisition cost 31.12. 20 472 40 368 5 500 66 341 Accumulated depreciation and impairments as of 31.12. -6 931 -31 181 -5 500 -43 611 Book value as of 31.12.2023 13 541 9 188 - 22 728 1)Undiscounted lease liabilities and maturity of cash outflows Lease payments 2024 4 374 Lease payments 2025-2026 7 019 Lease payments 2026 > 3 948 Total undiscounted lease liabilities at 31.12.2023 15 341 1) The lease liability does not included the 5 yr option period for the offices in Syncrolift. Yearly KPI adjustments are included in the rental contract, however not included in the calculation of lease liability. When calculating the Right-of-use asset, a discount rate of 6,26% is applied.Note 7 Intangible assets and goodwill Amounts in NOK 1000Customer Patents, Digital Development Technology portfoliolicences etcSolutionscostsassets Goodwill TotalAs of 31.12.2022Acquisition cost 31.12. 10 241 534 7 241 46 088 3 300 16 643 84 047 Accumulated depreciation and amortisation as of 31.12. -5 294 -465 -2 037 -334 -1 238 - -9 368 Book value as of 31.12.2022 4 947 69 5 205 45 753 2 062 16 643 74 678 2023 Financial yearBook value 1.1. 4 947 69 5 205 45 753 2 062 16 643 74 678 Additions - - - 22 946 - 406 23 352 Government grants - - - -7 340 - - -7 340 Acquisitions - 749 - - - - 749 Disposals -625 - - -21 340 - - -21 965 Depreciation and amortisation -318 -128 -1 088 -327 -330 - -2 191 Book value as of 31.12.2023 4 004 690 4 117 39 693 1 732 17 049 67 284 Useful life (years) 20 years 5-10 5-7 5-10 10 years Infinite As of 31.12.2023Acquisition cost 31.12. 10 241 1 283 7 241 61 694 3 300 17 049 100 808Accumulated depreciation and amortisation as of 31.12. -6 237 -593 -3 125 22 001 -1 568 - -33 524Book value as of 31.12.2023 4 004 690 4 117 39 693 1 732 17 049 67 284Development cost includes capitalised development cost of MNOK 14 related to a SOV package containing a gangway and 3D compensated crane, MNOK 0.8 on SkyWalker, MNOK 3.2 on the closed fish cage solution Starfish and MNOK 2.7 regarding project InteliWell and robotic driller in Intellilift. Total government grants received on these projects amounts to MNOK 7.4 in 2023.Technology assets and goodwill relates to the acquisitions of Intellilift AS in 2019, and the acquisition of Techano Oceanlift AS in 2023.Note 15 Other operating expenses Amounts in NOK 10002023 2022Premises and office expenses 2 557 2 488 IT costs 5 147 4 384 Marketing and travel expenses 16 497 8 319 Consultancy and external services 12 720 11 640 Other expenses 4 499 5 951 Total other operating expenses 41 420 32 781",
"dimensions": {
"concept": "ifrs-full:DisclosureOfExpensesByNatureExplanatory",
"language": "en",
"entity": "scheme:5967007LIEEXZXIFE872",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"s6_notes__6__95-1": {
"value": "Note 6 Fixed assets Amounts in NOK 1000Starfish down- Right-of-use Furniture, office- scaled pilot assetequipment, etc. version Total2022 Financial yearBook value as of 1.1. 5 804 9 627 4 812 20 243 PPA Intellilift - - - - Additions - 2 427 - 2 427 Disposals - - - - Depreciation, amortisation and impairments -1 394 -2 245 -4 812 -8 451 Book value as of 31.12.2022 4 409 9 808 - 14 219 Acquisition cost 31.12. 8 429 38 463 5 500 52 392 Accumulated depreciation and impairments as of 31.12. -4 020 -28 652 -5 500 -38 171 Book value as of 31.12.2022 4 409 9 809 - 14 219 2023 Financial yearBook value as of 1.1. 4 409 9 809 - 14 219 Additions 12 043 1 906 13 949 Disposals - - - - Depreciation, amortisation and impairments -2 911 -2 528 - -5 439 Book value as of 31.12.2023 13 541 9 186 - 22 727 Acquisition cost 31.12. 20 472 40 368 5 500 66 341 Accumulated depreciation and impairments as of 31.12. -6 931 -31 181 -5 500 -43 611 Book value as of 31.12.2023 13 541 9 188 - 22 728 1)Undiscounted lease liabilities and maturity of cash outflows Lease payments 2024 4 374 Lease payments 2025-2026 7 019 Lease payments 2026 > 3 948 Total undiscounted lease liabilities at 31.12.2023 15 341 1) The lease liability does not included the 5 yr option period for the offices in Syncrolift. Yearly KPI adjustments are included in the rental contract, however not included in the calculation of lease liability. When calculating the Right-of-use asset, a discount rate of 6,26% is applied.Note 7 Intangible assets and goodwill Amounts in NOK 1000Customer Patents, Digital Development Technology portfoliolicences etcSolutionscostsassets Goodwill TotalAs of 31.12.2022Acquisition cost 31.12. 10 241 534 7 241 46 088 3 300 16 643 84 047 Accumulated depreciation and amortisation as of 31.12. -5 294 -465 -2 037 -334 -1 238 - -9 368 Book value as of 31.12.2022 4 947 69 5 205 45 753 2 062 16 643 74 678 2023 Financial yearBook value 1.1. 4 947 69 5 205 45 753 2 062 16 643 74 678 Additions - - - 22 946 - 406 23 352 Government grants - - - -7 340 - - -7 340 Acquisitions - 749 - - - - 749 Disposals -625 - - -21 340 - - -21 965 Depreciation and amortisation -318 -128 -1 088 -327 -330 - -2 191 Book value as of 31.12.2023 4 004 690 4 117 39 693 1 732 17 049 67 284 Useful life (years) 20 years 5-10 5-7 5-10 10 years Infinite As of 31.12.2023Acquisition cost 31.12. 10 241 1 283 7 241 61 694 3 300 17 049 100 808Accumulated depreciation and amortisation as of 31.12. -6 237 -593 -3 125 22 001 -1 568 - -33 524Book value as of 31.12.2023 4 004 690 4 117 39 693 1 732 17 049 67 284Development cost includes capitalised development cost of MNOK 14 related to a SOV package containing a gangway and 3D compensated crane, MNOK 0.8 on SkyWalker, MNOK 3.2 on the closed fish cage solution Starfish and MNOK 2.7 regarding project InteliWell and robotic driller in Intellilift. Total government grants received on these projects amounts to MNOK 7.4 in 2023.Technology assets and goodwill relates to the acquisitions of Intellilift AS in 2019, and the acquisition of Techano Oceanlift AS in 2023.Note 15 Other operating expenses Amounts in NOK 10002023 2022Premises and office expenses 2 557 2 488 IT costs 5 147 4 384 Marketing and travel expenses 16 497 8 319 Consultancy and external services 12 720 11 640 Other expenses 4 499 5 951 Total other operating expenses 41 420 32 781",
"dimensions": {
"concept": "ifrs-full:DisclosureOfExpensesExplanatory",
"language": "en",
"entity": "scheme:5967007LIEEXZXIFE872",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"s6_notes__6__94-1": {
"value": "Note 6 Fixed assets Amounts in NOK 1000Starfish down- Right-of-use Furniture, office- scaled pilot assetequipment, etc. version Total2022 Financial yearBook value as of 1.1. 5 804 9 627 4 812 20 243 PPA Intellilift - - - - Additions - 2 427 - 2 427 Disposals - - - - Depreciation, amortisation and impairments -1 394 -2 245 -4 812 -8 451 Book value as of 31.12.2022 4 409 9 808 - 14 219 Acquisition cost 31.12. 8 429 38 463 5 500 52 392 Accumulated depreciation and impairments as of 31.12. -4 020 -28 652 -5 500 -38 171 Book value as of 31.12.2022 4 409 9 809 - 14 219 2023 Financial yearBook value as of 1.1. 4 409 9 809 - 14 219 Additions 12 043 1 906 13 949 Disposals - - - - Depreciation, amortisation and impairments -2 911 -2 528 - -5 439 Book value as of 31.12.2023 13 541 9 186 - 22 727 Acquisition cost 31.12. 20 472 40 368 5 500 66 341 Accumulated depreciation and impairments as of 31.12. -6 931 -31 181 -5 500 -43 611 Book value as of 31.12.2023 13 541 9 188 - 22 728 1)Undiscounted lease liabilities and maturity of cash outflows Lease payments 2024 4 374 Lease payments 2025-2026 7 019 Lease payments 2026 > 3 948 Total undiscounted lease liabilities at 31.12.2023 15 341 1) The lease liability does not included the 5 yr option period for the offices in Syncrolift. Yearly KPI adjustments are included in the rental contract, however not included in the calculation of lease liability. When calculating the Right-of-use asset, a discount rate of 6,26% is applied.Note 7 Intangible assets and goodwill Amounts in NOK 1000Customer Patents, Digital Development Technology portfoliolicences etcSolutionscostsassets Goodwill TotalAs of 31.12.2022Acquisition cost 31.12. 10 241 534 7 241 46 088 3 300 16 643 84 047 Accumulated depreciation and amortisation as of 31.12. -5 294 -465 -2 037 -334 -1 238 - -9 368 Book value as of 31.12.2022 4 947 69 5 205 45 753 2 062 16 643 74 678 2023 Financial yearBook value 1.1. 4 947 69 5 205 45 753 2 062 16 643 74 678 Additions - - - 22 946 - 406 23 352 Government grants - - - -7 340 - - -7 340 Acquisitions - 749 - - - - 749 Disposals -625 - - -21 340 - - -21 965 Depreciation and amortisation -318 -128 -1 088 -327 -330 - -2 191 Book value as of 31.12.2023 4 004 690 4 117 39 693 1 732 17 049 67 284 Useful life (years) 20 years 5-10 5-7 5-10 10 years Infinite As of 31.12.2023Acquisition cost 31.12. 10 241 1 283 7 241 61 694 3 300 17 049 100 808Accumulated depreciation and amortisation as of 31.12. -6 237 -593 -3 125 22 001 -1 568 - -33 524Book value as of 31.12.2023 4 004 690 4 117 39 693 1 732 17 049 67 284Development cost includes capitalised development cost of MNOK 14 related to a SOV package containing a gangway and 3D compensated crane, MNOK 0.8 on SkyWalker, MNOK 3.2 on the closed fish cage solution Starfish and MNOK 2.7 regarding project InteliWell and robotic driller in Intellilift. Total government grants received on these projects amounts to MNOK 7.4 in 2023.Technology assets and goodwill relates to the acquisitions of Intellilift AS in 2019, and the acquisition of Techano Oceanlift AS in 2023.Allocation of goodwill and impairment assessmentRecognised goodwill relates to the acquisition of Intellilift which amounts to MNOK 16.6 and the Techano Oceanlift acqusition in March 2023, totaling to MNOK 0.4, resulting in a combined value of MNOK 17.1 as of 31 December 2023. Included in goodwill is the value of employees with special skills and expected synergies with the existing business of Nekkar. These intangible assets do not fulfil the recognition criteria under IAS 38 and are therefore not recognised separately. Reference is made to note 21 Business Combinations.In accordance with IAS 36, goodwill is not amortised, but is tested for impairment at least annually, or when there are indications of impairment. Nekkar performed its annual impairment test in December 2023.Goodwill is tested for impairment by groups of cash generating units (CGU) and Intellilift is assessed as one CGU. As of 31 December 2023, the recoverable amount of the CGU has been determined based on a value in use calculation using cash flow projections from the 2023 budget and a total forecast period of 5 years. The pre-tax discount rate applied to the cash flow projections is 15.7 percent and the cash flows beyond the five-year period are extrapolated using a 1.5 percent growth rate. The impairment test indicated that the recoverable amount exceeds the book value of the CGU, hence no impairment is recognised as per 31 December 2023. The value in use is based on several key assumptions and is most sensitive to the following: \u2022 Discount rate (WACC)\u2022 Gross margins\u2022 Growth assumptions in cash flow projections\u2022 Terminal growth rateNo reasonable possible change in key assumption could lead to impairment. 2023 2022Goodwill Techano Oceanlift 406 -Goodwill Intellilift 16 643 16 643 Total 17 049 16 643 Development costsThe Group performed its impairment assessment in December 2023. The recoverable amount has been determined based on a value in use calculation using five-year cash flow projections. The impairment test indicated that the recoverable amount exceeds book value, hence no impairment is recognised as per 31 December 2023.",
"dimensions": {
"concept": "ifrs-full:DisclosureOfImpairmentOfAssetsExplanatory",
"language": "en",
"entity": "scheme:5967007LIEEXZXIFE872",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"s6_notes__6__93-1": {
"value": "Note 6 Fixed assets Amounts in NOK 1000Starfish down- Right-of-use Furniture, office- scaled pilot assetequipment, etc. version Total2022 Financial yearBook value as of 1.1. 5 804 9 627 4 812 20 243 PPA Intellilift - - - - Additions - 2 427 - 2 427 Disposals - - - - Depreciation, amortisation and impairments -1 394 -2 245 -4 812 -8 451 Book value as of 31.12.2022 4 409 9 808 - 14 219 Acquisition cost 31.12. 8 429 38 463 5 500 52 392 Accumulated depreciation and impairments as of 31.12. -4 020 -28 652 -5 500 -38 171 Book value as of 31.12.2022 4 409 9 809 - 14 219 2023 Financial yearBook value as of 1.1. 4 409 9 809 - 14 219 Additions 12 043 1 906 13 949 Disposals - - - - Depreciation, amortisation and impairments -2 911 -2 528 - -5 439 Book value as of 31.12.2023 13 541 9 186 - 22 727 Acquisition cost 31.12. 20 472 40 368 5 500 66 341 Accumulated depreciation and impairments as of 31.12. -6 931 -31 181 -5 500 -43 611 Book value as of 31.12.2023 13 541 9 188 - 22 728 1)Undiscounted lease liabilities and maturity of cash outflows Lease payments 2024 4 374 Lease payments 2025-2026 7 019 Lease payments 2026 > 3 948 Total undiscounted lease liabilities at 31.12.2023 15 341 1) The lease liability does not included the 5 yr option period for the offices in Syncrolift. Yearly KPI adjustments are included in the rental contract, however not included in the calculation of lease liability. When calculating the Right-of-use asset, a discount rate of 6,26% is applied.Note 7 Intangible assets and goodwill Amounts in NOK 1000Customer Patents, Digital Development Technology portfoliolicences etcSolutionscostsassets Goodwill TotalAs of 31.12.2022Acquisition cost 31.12. 10 241 534 7 241 46 088 3 300 16 643 84 047 Accumulated depreciation and amortisation as of 31.12. -5 294 -465 -2 037 -334 -1 238 - -9 368 Book value as of 31.12.2022 4 947 69 5 205 45 753 2 062 16 643 74 678 2023 Financial yearBook value 1.1. 4 947 69 5 205 45 753 2 062 16 643 74 678 Additions - - - 22 946 - 406 23 352 Government grants - - - -7 340 - - -7 340 Acquisitions - 749 - - - - 749 Disposals -625 - - -21 340 - - -21 965 Depreciation and amortisation -318 -128 -1 088 -327 -330 - -2 191 Book value as of 31.12.2023 4 004 690 4 117 39 693 1 732 17 049 67 284 Useful life (years) 20 years 5-10 5-7 5-10 10 years Infinite As of 31.12.2023Acquisition cost 31.12. 10 241 1 283 7 241 61 694 3 300 17 049 100 808Accumulated depreciation and amortisation as of 31.12. -6 237 -593 -3 125 22 001 -1 568 - -33 524Book value as of 31.12.2023 4 004 690 4 117 39 693 1 732 17 049 67 284Development cost includes capitalised development cost of MNOK 14 related to a SOV package containing a gangway and 3D compensated crane, MNOK 0.8 on SkyWalker, MNOK 3.2 on the closed fish cage solution Starfish and MNOK 2.7 regarding project InteliWell and robotic driller in Intellilift. Total government grants received on these projects amounts to MNOK 7.4 in 2023.Technology assets and goodwill relates to the acquisitions of Intellilift AS in 2019, and the acquisition of Techano Oceanlift AS in 2023.",
"dimensions": {
"concept": "ifrs-full:DisclosureOfDepreciationAndAmortisationExpenseExplanatory",
"language": "en",
"entity": "scheme:5967007LIEEXZXIFE872",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"s6_notes__6__92": {
"value": "Note 6 Fixed assets Amounts in NOK 1000Starfish down- Right-of-use Furniture, office- scaled pilot assetequipment, etc. version Total2022 Financial yearBook value as of 1.1. 5 804 9 627 4 812 20 243 PPA Intellilift - - - - Additions - 2 427 - 2 427 Disposals - - - - Depreciation, amortisation and impairments -1 394 -2 245 -4 812 -8 451 Book value as of 31.12.2022 4 409 9 808 - 14 219 Acquisition cost 31.12. 8 429 38 463 5 500 52 392 Accumulated depreciation and impairments as of 31.12. -4 020 -28 652 -5 500 -38 171 Book value as of 31.12.2022 4 409 9 809 - 14 219 2023 Financial yearBook value as of 1.1. 4 409 9 809 - 14 219 Additions 12 043 1 906 13 949 Disposals - - - - Depreciation, amortisation and impairments -2 911 -2 528 - -5 439 Book value as of 31.12.2023 13 541 9 186 - 22 727 Acquisition cost 31.12. 20 472 40 368 5 500 66 341 Accumulated depreciation and impairments as of 31.12. -6 931 -31 181 -5 500 -43 611 Book value as of 31.12.2023 13 541 9 188 - 22 728 1)Undiscounted lease liabilities and maturity of cash outflows Lease payments 2024 4 374 Lease payments 2025-2026 7 019 Lease payments 2026 > 3 948 Total undiscounted lease liabilities at 31.12.2023 15 341 1) The lease liability does not included the 5 yr option period for the offices in Syncrolift. Yearly KPI adjustments are included in the rental contract, however not included in the calculation of lease liability. When calculating the Right-of-use asset, a discount rate of 6,26% is applied.",
"dimensions": {
"concept": "ifrs-full:DisclosureOfLeasesExplanatory",
"language": "en",
"entity": "scheme:5967007LIEEXZXIFE872",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"s6_notes__6__91": {
"value": "Note 6 Fixed assets Amounts in NOK 1000Starfish down- Right-of-use Furniture, office- scaled pilot assetequipment, etc. version Total2022 Financial yearBook value as of 1.1. 5 804 9 627 4 812 20 243 PPA Intellilift - - - - Additions - 2 427 - 2 427 Disposals - - - - Depreciation, amortisation and impairments -1 394 -2 245 -4 812 -8 451 Book value as of 31.12.2022 4 409 9 808 - 14 219 Acquisition cost 31.12. 8 429 38 463 5 500 52 392 Accumulated depreciation and impairments as of 31.12. -4 020 -28 652 -5 500 -38 171 Book value as of 31.12.2022 4 409 9 809 - 14 219 2023 Financial yearBook value as of 1.1. 4 409 9 809 - 14 219 Additions 12 043 1 906 13 949 Disposals - - - - Depreciation, amortisation and impairments -2 911 -2 528 - -5 439 Book value as of 31.12.2023 13 541 9 186 - 22 727 Acquisition cost 31.12. 20 472 40 368 5 500 66 341 Accumulated depreciation and impairments as of 31.12. -6 931 -31 181 -5 500 -43 611 Book value as of 31.12.2023 13 541 9 188 - 22 728 1)Undiscounted lease liabilities and maturity of cash outflows Lease payments 2024 4 374 Lease payments 2025-2026 7 019 Lease payments 2026 > 3 948 Total undiscounted lease liabilities at 31.12.2023 15 341 1) The lease liability does not included the 5 yr option period for the offices in Syncrolift. Yearly KPI adjustments are included in the rental contract, however not included in the calculation of lease liability. When calculating the Right-of-use asset, a discount rate of 6,26% is applied.",
"dimensions": {
"concept": "ifrs-full:DisclosureOfPropertyPlantAndEquipmentExplanatory",
"language": "en",
"entity": "scheme:5967007LIEEXZXIFE872",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"s6_notes__6__99": {
"value": "Note 7 Intangible assets and goodwill Amounts in NOK 1000Customer Patents, Digital Development Technology portfoliolicences etcSolutionscostsassets Goodwill TotalAs of 31.12.2022Acquisition cost 31.12. 10 241 534 7 241 46 088 3 300 16 643 84 047 Accumulated depreciation and amortisation as of 31.12. -5 294 -465 -2 037 -334 -1 238 - -9 368 Book value as of 31.12.2022 4 947 69 5 205 45 753 2 062 16 643 74 678 2023 Financial yearBook value 1.1. 4 947 69 5 205 45 753 2 062 16 643 74 678 Additions - - - 22 946 - 406 23 352 Government grants - - - -7 340 - - -7 340 Acquisitions - 749 - - - - 749 Disposals -625 - - -21 340 - - -21 965 Depreciation and amortisation -318 -128 -1 088 -327 -330 - -2 191 Book value as of 31.12.2023 4 004 690 4 117 39 693 1 732 17 049 67 284 Useful life (years) 20 years 5-10 5-7 5-10 10 years Infinite As of 31.12.2023Acquisition cost 31.12. 10 241 1 283 7 241 61 694 3 300 17 049 100 808Accumulated depreciation and amortisation as of 31.12. -6 237 -593 -3 125 22 001 -1 568 - -33 524Book value as of 31.12.2023 4 004 690 4 117 39 693 1 732 17 049 67 284Development cost includes capitalised development cost of MNOK 14 related to a SOV package containing a gangway and 3D compensated crane, MNOK 0.8 on SkyWalker, MNOK 3.2 on the closed fish cage solution Starfish and MNOK 2.7 regarding project InteliWell and robotic driller in Intellilift. Total government grants received on these projects amounts to MNOK 7.4 in 2023.Technology assets and goodwill relates to the acquisitions of Intellilift AS in 2019, and the acquisition of Techano Oceanlift AS in 2023.Allocation of goodwill and impairment assessmentRecognised goodwill relates to the acquisition of Intellilift which amounts to MNOK 16.6 and the Techano Oceanlift acqusition in March 2023, totaling to MNOK 0.4, resulting in a combined value of MNOK 17.1 as of 31 December 2023. Included in goodwill is the value of employees with special skills and expected synergies with the existing business of Nekkar. These intangible assets do not fulfil the recognition criteria under IAS 38 and are therefore not recognised separately. Reference is made to note 21 Business Combinations.In accordance with IAS 36, goodwill is not amortised, but is tested for impairment at least annually, or when there are indications of impairment. Nekkar performed its annual impairment test in December 2023.Goodwill is tested for impairment by groups of cash generating units (CGU) and Intellilift is assessed as one CGU. As of 31 December 2023, the recoverable amount of the CGU has been determined based on a value in use calculation using cash flow projections from the 2023 budget and a total forecast period of 5 years. The pre-tax discount rate applied to the cash flow projections is 15.7 percent and the cash flows beyond the five-year period are extrapolated using a 1.5 percent growth rate. The impairment test indicated that the recoverable amount exceeds the book value of the CGU, hence no impairment is recognised as per 31 December 2023. The value in use is based on several key assumptions and is most sensitive to the following: \u2022 Discount rate (WACC)\u2022 Gross margins\u2022 Growth assumptions in cash flow projections\u2022 Terminal growth rateNo reasonable possible change in key assumption could lead to impairment. 2023 2022Goodwill Techano Oceanlift 406 -Goodwill Intellilift 16 643 16 643 Total 17 049 16 643 Development costsThe Group performed its impairment assessment in December 2023. The recoverable amount has been determined based on a value in use calculation using five-year cash flow projections. The impairment test indicated that the recoverable amount exceeds book value, hence no impairment is recognised as per 31 December 2023.",
"dimensions": {
"concept": "ifrs-full:DisclosureOfGoodwillExplanatory",
"language": "en",
"entity": "scheme:5967007LIEEXZXIFE872",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"s6_notes__6__98": {
"value": "Note 7 Intangible assets and goodwill Amounts in NOK 1000Customer Patents, Digital Development Technology portfoliolicences etcSolutionscostsassets Goodwill TotalAs of 31.12.2022Acquisition cost 31.12. 10 241 534 7 241 46 088 3 300 16 643 84 047 Accumulated depreciation and amortisation as of 31.12. -5 294 -465 -2 037 -334 -1 238 - -9 368 Book value as of 31.12.2022 4 947 69 5 205 45 753 2 062 16 643 74 678 2023 Financial yearBook value 1.1. 4 947 69 5 205 45 753 2 062 16 643 74 678 Additions - - - 22 946 - 406 23 352 Government grants - - - -7 340 - - -7 340 Acquisitions - 749 - - - - 749 Disposals -625 - - -21 340 - - -21 965 Depreciation and amortisation -318 -128 -1 088 -327 -330 - -2 191 Book value as of 31.12.2023 4 004 690 4 117 39 693 1 732 17 049 67 284 Useful life (years) 20 years 5-10 5-7 5-10 10 years Infinite As of 31.12.2023Acquisition cost 31.12. 10 241 1 283 7 241 61 694 3 300 17 049 100 808Accumulated depreciation and amortisation as of 31.12. -6 237 -593 -3 125 22 001 -1 568 - -33 524Book value as of 31.12.2023 4 004 690 4 117 39 693 1 732 17 049 67 284Development cost includes capitalised development cost of MNOK 14 related to a SOV package containing a gangway and 3D compensated crane, MNOK 0.8 on SkyWalker, MNOK 3.2 on the closed fish cage solution Starfish and MNOK 2.7 regarding project InteliWell and robotic driller in Intellilift. Total government grants received on these projects amounts to MNOK 7.4 in 2023.Technology assets and goodwill relates to the acquisitions of Intellilift AS in 2019, and the acquisition of Techano Oceanlift AS in 2023.Allocation of goodwill and impairment assessmentRecognised goodwill relates to the acquisition of Intellilift which amounts to MNOK 16.6 and the Techano Oceanlift acqusition in March 2023, totaling to MNOK 0.4, resulting in a combined value of MNOK 17.1 as of 31 December 2023. Included in goodwill is the value of employees with special skills and expected synergies with the existing business of Nekkar. These intangible assets do not fulfil the recognition criteria under IAS 38 and are therefore not recognised separately. Reference is made to note 21 Business Combinations.In accordance with IAS 36, goodwill is not amortised, but is tested for impairment at least annually, or when there are indications of impairment. Nekkar performed its annual impairment test in December 2023.Goodwill is tested for impairment by groups of cash generating units (CGU) and Intellilift is assessed as one CGU. As of 31 December 2023, the recoverable amount of the CGU has been determined based on a value in use calculation using cash flow projections from the 2023 budget and a total forecast period of 5 years. The pre-tax discount rate applied to the cash flow projections is 15.7 percent and the cash flows beyond the five-year period are extrapolated using a 1.5 percent growth rate. The impairment test indicated that the recoverable amount exceeds the book value of the CGU, hence no impairment is recognised as per 31 December 2023. The value in use is based on several key assumptions and is most sensitive to the following: \u2022 Discount rate (WACC)\u2022 Gross margins\u2022 Growth assumptions in cash flow projections\u2022 Terminal growth rateNo reasonable possible change in key assumption could lead to impairment. 2023 2022Goodwill Techano Oceanlift 406 -Goodwill Intellilift 16 643 16 643 Total 17 049 16 643 Development costsThe Group performed its impairment assessment in December 2023. The recoverable amount has been determined based on a value in use calculation using five-year cash flow projections. The impairment test indicated that the recoverable amount exceeds book value, hence no impairment is recognised as per 31 December 2023.",
"dimensions": {
"concept": "ifrs-full:DisclosureOfIntangibleAssetsExplanatory",
"language": "en",
"entity": "scheme:5967007LIEEXZXIFE872",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"s6_notes__6__97": {
"value": "Note 7 Intangible assets and goodwill Amounts in NOK 1000Customer Patents, Digital Development Technology portfoliolicences etcSolutionscostsassets Goodwill TotalAs of 31.12.2022Acquisition cost 31.12. 10 241 534 7 241 46 088 3 300 16 643 84 047 Accumulated depreciation and amortisation as of 31.12. -5 294 -465 -2 037 -334 -1 238 - -9 368 Book value as of 31.12.2022 4 947 69 5 205 45 753 2 062 16 643 74 678 2023 Financial yearBook value 1.1. 4 947 69 5 205 45 753 2 062 16 643 74 678 Additions - - - 22 946 - 406 23 352 Government grants - - - -7 340 - - -7 340 Acquisitions - 749 - - - - 749 Disposals -625 - - -21 340 - - -21 965 Depreciation and amortisation -318 -128 -1 088 -327 -330 - -2 191 Book value as of 31.12.2023 4 004 690 4 117 39 693 1 732 17 049 67 284 Useful life (years) 20 years 5-10 5-7 5-10 10 years Infinite As of 31.12.2023Acquisition cost 31.12. 10 241 1 283 7 241 61 694 3 300 17 049 100 808Accumulated depreciation and amortisation as of 31.12. -6 237 -593 -3 125 22 001 -1 568 - -33 524Book value as of 31.12.2023 4 004 690 4 117 39 693 1 732 17 049 67 284Development cost includes capitalised development cost of MNOK 14 related to a SOV package containing a gangway and 3D compensated crane, MNOK 0.8 on SkyWalker, MNOK 3.2 on the closed fish cage solution Starfish and MNOK 2.7 regarding project InteliWell and robotic driller in Intellilift. Total government grants received on these projects amounts to MNOK 7.4 in 2023.Technology assets and goodwill relates to the acquisitions of Intellilift AS in 2019, and the acquisition of Techano Oceanlift AS in 2023.Allocation of goodwill and impairment assessmentRecognised goodwill relates to the acquisition of Intellilift which amounts to MNOK 16.6 and the Techano Oceanlift acqusition in March 2023, totaling to MNOK 0.4, resulting in a combined value of MNOK 17.1 as of 31 December 2023. Included in goodwill is the value of employees with special skills and expected synergies with the existing business of Nekkar. These intangible assets do not fulfil the recognition criteria under IAS 38 and are therefore not recognised separately. Reference is made to note 21 Business Combinations.In accordance with IAS 36, goodwill is not amortised, but is tested for impairment at least annually, or when there are indications of impairment. Nekkar performed its annual impairment test in December 2023.Goodwill is tested for impairment by groups of cash generating units (CGU) and Intellilift is assessed as one CGU. As of 31 December 2023, the recoverable amount of the CGU has been determined based on a value in use calculation using cash flow projections from the 2023 budget and a total forecast period of 5 years. The pre-tax discount rate applied to the cash flow projections is 15.7 percent and the cash flows beyond the five-year period are extrapolated using a 1.5 percent growth rate. The impairment test indicated that the recoverable amount exceeds the book value of the CGU, hence no impairment is recognised as per 31 December 2023. The value in use is based on several key assumptions and is most sensitive to the following: \u2022 Discount rate (WACC)\u2022 Gross margins\u2022 Growth assumptions in cash flow projections\u2022 Terminal growth rateNo reasonable possible change in key assumption could lead to impairment. 2023 2022Goodwill Techano Oceanlift 406 -Goodwill Intellilift 16 643 16 643 Total 17 049 16 643 Development costsThe Group performed its impairment assessment in December 2023. The recoverable amount has been determined based on a value in use calculation using five-year cash flow projections. The impairment test indicated that the recoverable amount exceeds book value, hence no impairment is recognised as per 31 December 2023.",
"dimensions": {
"concept": "ifrs-full:DisclosureOfIntangibleAssetsAndGoodwillExplanatory",
"language": "en",
"entity": "scheme:5967007LIEEXZXIFE872",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"s6_notes__6__100": {
"value": "Development cost includes capitalised development cost of MNOK 14 related to a SOV package containing a gangway and 3D compensated crane, MNOK 0.8 on SkyWalker, MNOK 3.2 on the closed fish cage solution Starfish and MNOK 2.7 regarding project InteliWell and robotic driller in Intellilift. Total government grants received on these projects amounts to MNOK 7.4 in 2023.Technology assets and goodwill relates to the acquisitions of Intellilift AS in 2019, and the acquisition of Techano Oceanlift AS in 2023.",
"dimensions": {
"concept": "ifrs-full:DisclosureOfResearchAndDevelopmentExpenseExplanatory",
"language": "en",
"entity": "scheme:5967007LIEEXZXIFE872",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"s6_notes__6__107": {
"value": "Note 8 SubsidiariesThe following subsidiaries are basis for the consolidated accounts 31.12.23:Acquisition Voting Local Functional Share capital Subsidiary of Nekkar ASA Registered officeyear Ownershipsharecurrencycurrencyin local currencySyncrolift AS Vestby, Norway 1994 100% 100% NOK NOK 1 045 000 Nekkar Invest AS Kristiansand, Norway 2018 100% 100% NOK NOK 60 000 Nekkar SkyWalker Onshore AS Kristiansand, Norway 2022 100% 100% NOK NOK 30 000 Techano Oceanlift AS Kristiansand, Norway 2023 90% 90% NOK NOK 505 051 Acquisition Voting Local Functional Share capital Subsidiary of Syncrolift AS Registered officeyear Ownershipsharecurrencycurrencyin local currencySyncrolift Inc USA 2019 100% 100% USD USD - Syncrolift South East Asia Singapore 2019 100% 100% SGD SGD - Syncrolift Private Ltd India 2023 80% 80% INR INR 5 000 000 Syncrolift Australia PTY LTD Australia 2023 100% 100% AUD AUD - Acquisition Voting Local Functional Share capital Subsidiary of Nekkar Invest AS Registered officeyear Ownershipsharecurrencycurrencyin local currencyIntellilift AS Kristiansand, Norway 2019 51% 51% NOK NOK 101 321 Acquisition Owner-Voting Local Functional Share capital 1)shareSubsidiary of Intellilift AS Registered officeyearshipcurrencycurrencyin local currencyIntellirob AS Kristiansand, Norway 2019 100% 100% NOK NOK 30 000",
"dimensions": {
"concept": "ifrs-full:DisclosureOfSignificantInvestmentsInAssociatesExplanatory",
"language": "en",
"entity": "scheme:5967007LIEEXZXIFE872",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"s6_notes__6__106": {
"value": "Note 8 SubsidiariesThe following subsidiaries are basis for the consolidated accounts 31.12.23:Acquisition Voting Local Functional Share capital Subsidiary of Nekkar ASA Registered officeyear Ownershipsharecurrencycurrencyin local currencySyncrolift AS Vestby, Norway 1994 100% 100% NOK NOK 1 045 000 Nekkar Invest AS Kristiansand, Norway 2018 100% 100% NOK NOK 60 000 Nekkar SkyWalker Onshore AS Kristiansand, Norway 2022 100% 100% NOK NOK 30 000 Techano Oceanlift AS Kristiansand, Norway 2023 90% 90% NOK NOK 505 051 Acquisition Voting Local Functional Share capital Subsidiary of Syncrolift AS Registered officeyear Ownershipsharecurrencycurrencyin local currencySyncrolift Inc USA 2019 100% 100% USD USD - Syncrolift South East Asia Singapore 2019 100% 100% SGD SGD - Syncrolift Private Ltd India 2023 80% 80% INR INR 5 000 000 Syncrolift Australia PTY LTD Australia 2023 100% 100% AUD AUD - Acquisition Voting Local Functional Share capital Subsidiary of Nekkar Invest AS Registered officeyear Ownershipsharecurrencycurrencyin local currencyIntellilift AS Kristiansand, Norway 2019 51% 51% NOK NOK 101 321 Acquisition Owner-Voting Local Functional Share capital 1)shareSubsidiary of Intellilift AS Registered officeyearshipcurrencycurrencyin local currencyIntellirob AS Kristiansand, Norway 2019 100% 100% NOK NOK 30 000",
"dimensions": {
"concept": "ifrs-full:DisclosureOfJointVenturesExplanatory",
"language": "en",
"entity": "scheme:5967007LIEEXZXIFE872",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"s6_notes__6__105": {
"value": "Note 8 SubsidiariesThe following subsidiaries are basis for the consolidated accounts 31.12.23:Acquisition Voting Local Functional Share capital Subsidiary of Nekkar ASA Registered officeyear Ownershipsharecurrencycurrencyin local currencySyncrolift AS Vestby, Norway 1994 100% 100% NOK NOK 1 045 000 Nekkar Invest AS Kristiansand, Norway 2018 100% 100% NOK NOK 60 000 Nekkar SkyWalker Onshore AS Kristiansand, Norway 2022 100% 100% NOK NOK 30 000 Techano Oceanlift AS Kristiansand, Norway 2023 90% 90% NOK NOK 505 051 Acquisition Voting Local Functional Share capital Subsidiary of Syncrolift AS Registered officeyear Ownershipsharecurrencycurrencyin local currencySyncrolift Inc USA 2019 100% 100% USD USD - Syncrolift South East Asia Singapore 2019 100% 100% SGD SGD - Syncrolift Private Ltd India 2023 80% 80% INR INR 5 000 000 Syncrolift Australia PTY LTD Australia 2023 100% 100% AUD AUD - Acquisition Voting Local Functional Share capital Subsidiary of Nekkar Invest AS Registered officeyear Ownershipsharecurrencycurrencyin local currencyIntellilift AS Kristiansand, Norway 2019 51% 51% NOK NOK 101 321 Acquisition Owner-Voting Local Functional Share capital 1)shareSubsidiary of Intellilift AS Registered officeyearshipcurrencycurrencyin local currencyIntellirob AS Kristiansand, Norway 2019 100% 100% NOK NOK 30 000",
"dimensions": {
"concept": "ifrs-full:DisclosureOfSignificantInvestmentsInSubsidiariesExplanatory",
"language": "en",
"entity": "scheme:5967007LIEEXZXIFE872",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"s6_notes__6__112": {
"value": "Note 9 Trade and other receivables Amounts in NOK 1000Trade receivables 2023 2022Trade receivables 104 841 119 842Loss provisions -19 571 -12 967Net trade receivables 85 270 106 875 Trade receivables (gross) per currency: 2023 2022EUR 21 044 14 186USD 69 673 85 725NOK 12 806 4 671SGD 1 317 2 293NOK - -Total 104 840 106 875 For additional information on accounts receivables and associated risks, see Accounting Principles and sections 2.8, 3.1 and 4 and Note 19.Other short-term receivables 2023 2022VAT 2 239 5 866 Prepayments 2 543 819 Prolonging of effective hedge relationship - 137 Other receivables 1 604 302 Other short-term receivables 6 388 7 127 For accrued, not invoiced revenue, see Note 2 Revenue.For receivables relating to derivatives and hedge accounting, see Note 17 Derivatives.",
"dimensions": {
"concept": "ifrs-full:DisclosureOfOtherAssetsExplanatory",
"language": "en",
"entity": "scheme:5967007LIEEXZXIFE872",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"s6_notes__6__111": {
"value": "Note 9 Trade and other receivables Amounts in NOK 1000Trade receivables 2023 2022Trade receivables 104 841 119 842Loss provisions -19 571 -12 967Net trade receivables 85 270 106 875 Trade receivables (gross) per currency: 2023 2022EUR 21 044 14 186USD 69 673 85 725NOK 12 806 4 671SGD 1 317 2 293NOK - -Total 104 840 106 875 For additional information on accounts receivables and associated risks, see Accounting Principles and sections 2.8, 3.1 and 4 and Note 19.Other short-term receivables 2023 2022VAT 2 239 5 866 Prepayments 2 543 819 Prolonging of effective hedge relationship - 137 Other receivables 1 604 302 Other short-term receivables 6 388 7 127 For accrued, not invoiced revenue, see Note 2 Revenue.For receivables relating to derivatives and hedge accounting, see Note 17 Derivatives.",
"dimensions": {
"concept": "ifrs-full:DisclosureOfOtherCurrentAssetsExplanatory",
"language": "en",
"entity": "scheme:5967007LIEEXZXIFE872",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"s6_notes__6__110": {
"value": "Note 9 Trade and other receivables Amounts in NOK 1000Trade receivables 2023 2022Trade receivables 104 841 119 842Loss provisions -19 571 -12 967Net trade receivables 85 270 106 875 Trade receivables (gross) per currency: 2023 2022EUR 21 044 14 186USD 69 673 85 725NOK 12 806 4 671SGD 1 317 2 293NOK - -Total 104 840 106 875 For additional information on accounts receivables and associated risks, see Accounting Principles and sections 2.8, 3.1 and 4 and Note 19.Other short-term receivables 2023 2022VAT 2 239 5 866 Prepayments 2 543 819 Prolonging of effective hedge relationship - 137 Other receivables 1 604 302 Other short-term receivables 6 388 7 127 For accrued, not invoiced revenue, see Note 2 Revenue.For receivables relating to derivatives and hedge accounting, see Note 17 Derivatives.",
"dimensions": {
"concept": "ifrs-full:DisclosureOfPrepaymentsAndOtherAssetsExplanatory",
"language": "en",
"entity": "scheme:5967007LIEEXZXIFE872",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"s6_notes__6__109": {
"value": "Note 9 Trade and other receivables Amounts in NOK 1000Trade receivables 2023 2022Trade receivables 104 841 119 842Loss provisions -19 571 -12 967Net trade receivables 85 270 106 875 Trade receivables (gross) per currency: 2023 2022EUR 21 044 14 186USD 69 673 85 725NOK 12 806 4 671SGD 1 317 2 293NOK - -Total 104 840 106 875 For additional information on accounts receivables and associated risks, see Accounting Principles and sections 2.8, 3.1 and 4 and Note 19.Other short-term receivables 2023 2022VAT 2 239 5 866 Prepayments 2 543 819 Prolonging of effective hedge relationship - 137 Other receivables 1 604 302 Other short-term receivables 6 388 7 127 For accrued, not invoiced revenue, see Note 2 Revenue.For receivables relating to derivatives and hedge accounting, see Note 17 Derivatives.",
"dimensions": {
"concept": "ifrs-full:DisclosureOfAllowanceForCreditLossesExplanatory",
"language": "en",
"entity": "scheme:5967007LIEEXZXIFE872",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"s6_notes__6__108": {
"value": "Note 9 Trade and other receivables Amounts in NOK 1000Trade receivables 2023 2022Trade receivables 104 841 119 842Loss provisions -19 571 -12 967Net trade receivables 85 270 106 875 Trade receivables (gross) per currency: 2023 2022EUR 21 044 14 186USD 69 673 85 725NOK 12 806 4 671SGD 1 317 2 293NOK - -Total 104 840 106 875 For additional information on accounts receivables and associated risks, see Accounting Principles and sections 2.8, 3.1 and 4 and Note 19.Other short-term receivables 2023 2022VAT 2 239 5 866 Prepayments 2 543 819 Prolonging of effective hedge relationship - 137 Other receivables 1 604 302 Other short-term receivables 6 388 7 127 For accrued, not invoiced revenue, see Note 2 Revenue.For receivables relating to derivatives and hedge accounting, see Note 17 Derivatives.",
"dimensions": {
"concept": "ifrs-full:DisclosureOfTradeAndOtherReceivablesExplanatory",
"language": "en",
"entity": "scheme:5967007LIEEXZXIFE872",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"s6_notes__6__113": {
"value": "Note 10 Equity accounted investments Amounts in NOK 1000Nekkar holds the following equity accounted investmens as per 31.12.2023. Such investments are defiend as related parties to Nekkar. Associated companies are entities where the Group has significant influence, but not control. Significant influence is assumed to exist when the Group has between 20 percent to 50 percent of the voting rights in a company. The Group holds an ownership and voting right of 39 percent and is assesed to be an assosiated company. Affiliated comapany of Nekkar ASA Registered office Acquisition year Ownership Voting shareFiizk Topco AS Trondheim, Norway 2023 39% 39%Equity accounted investments Fiizk Topco AS TotalOpening balance 1.1.2023 - - Acquisitions 53 764 53 764 Share of profit/loss (net of withholding tax) -7 083 -7 083 Dividends (net of withholding tax) - - Currency effect - - 1,2)Closing balance 31.12.2023 46 681 46 681 1) Included in the balance sheet as of 31.12.2023 is a goodwill of NOK 28,4 million.2) Nekkar also has a minor carrying value booked under the equity method associated with Inteliwell.Nekkar became a shareholder in FiiZK Topco in September 2023. FiiZK develops and delivers solutions for closed/semi-closed fish farms based on internally developed technology. In 2023, the FiiZK group underwent a restructuring, both legally, organisationally, and financially. As part of this process, the technology originally developed within FiiZK Group, FiiZK Closed Systems, and FiiZK Holding (Certus technology) was acquired by FiiZK AS, simultaneously transferring employees in autumn 2023. Additionally, the companies FiiZK Digital AS and FiiZK Protection AS were divested.As part of the Shareholder Agreement for FiiZK Topco AS, Nekkar has a right, but no obligation, to acquire all the shares in FiiZK Topco AS from the other shareholders. The call option may be exercised from 14-28 June 2024, and may be postponed yearly, whereby 14-28 June 2026 shall be the last possible Exercise Period. The purchase price shall be determined as the fair value at the time the call option is exercisedIn conjunction with the restructuring, the ownership structure of the FiiZK group changed, with Nekkar ASA becoming a major shareholder (39%) through an issuance of NOK 25 million, a contribution in kind of Starfish worth NOK 25 million, and transaction cost of NOK 3.76 million totaling NOK 53.76 million. Nekkar, in parallel with FiiZK, has developed closed fish farm technology (Starfish technology). Starfish AS, consisting of the technology but no employees, became part of the FiiZK group and changed its name to FiiZK Technology AS in autumn 2023. Starfish was prior to the aquisition of FiiZK acoounted for as an intangible asset. Since then, work has been underway to develop \u2018Closed Fish Farm 2.0\u2019 based on the combined technological expertise in the field. The FiiZK group consists of the legal entities: FiiZK Digital AS, FiiZK Technology AS, FiiZK Protection AS and FiiZK AS (in 2024 renamed to FiiZK Aquaculture Systems AS). As Starfish was utilised as a contribution in kind in the FiiZK transaction, Nekkar recognized a gain of 3.6 million in 2023. Fiizk Topco AS Dec 2023 Current asset 64 459 Non-current assets 164 121 Current liabilities 117 815 Non-current liabilities 78 347 Net assets 32 418 Revenue from sales 29 992 Other revenue 5 659 Loss for the period since acquisition -15 641The table above shows figures that appear in the financial statements of FiiZK Topco AS. Only minor adjustments have been made to the numbers for IFRS purposes in Nekkar\u2019s group reporting.",
"dimensions": {
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"language": "en",
"entity": "scheme:5967007LIEEXZXIFE872",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
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"s6_notes__6__115": {
"value": "Note 11 Assets pledged as security and guarantees Amounts in NOK 1000Nekkar ASA has no interest bearing debt, however certain facilities with Nordea Norge ASA are established. Nekkar has the following credit facilities through its facilitators:2023 2022Limit Drawn Limit DrawnGuarantee limit for Group (Nordea) 290 000 164 363 290 000 200 897 Overdraft facility (Nordea) 100 000 - 100 000 - Revolving Credit facility (Nordea) 100 000 - 100 000 - The finance agreements include pledges of plant and machinery, inventory and accounts receivables in Nekkar ASA, Techano Oceanlift AS and Syncrolift AS. The guarantee limit is utilised by Nekkar ASA, Techano Oceanlift AS and Syncrolift AS and cover payment guarantee, performance bonds, advance payment bonds and tax guarantees. Under the new credit facilities established in 2022, the financial covenants are a debt ratio based on net debt/EBITDA and an equity ratio based on equity/total assets.\u2022 The company\u2019s debt ratio shall not exceed 2,5 times the EBITDA and is calculated from the consolidated total interest bearing debt to the consolidated EBITDA.\u2022 Equity ratio shall not be lower than 35 percent, calculated from the consolidated total equity to consolidated total assets.The covenants also include a term related to Nekkar maintaining its 100 percent ownership in Syncrolift AS. The covenants are monitored on a regular basis to ensure compliance with the credit agreements which are tested and reported on a quarterly basis. Nekkar was in compliance with its covenants as of 31 December 2023. .For the above mentioned facilities the following assets have been pledged as collateral to Nordea: Assets pledged as collateral for secured debt: 2023 2022Account/Group receivables 77 588 125 947 Inventory/Work in progress, including non-invoiced production 151 706 125 035 Property, plant and equipment 9 068 8 995 Assets pledged as collateral * 238 362 259 976 * Assets pledged as collateral only includes Nekkar ASA, Syncrolift AS and Techano Oceanlift AS. The pledged assets are presented in the balance sheet under the differenct categories. In addition, investments in subsidiaries and intercompany balances and loans are eliminated in the group accounts.",
"dimensions": {
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"language": "en",
"entity": "scheme:5967007LIEEXZXIFE872",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
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"s6_notes__6__114": {
"value": "Note 11 Assets pledged as security and guarantees Amounts in NOK 1000Nekkar ASA has no interest bearing debt, however certain facilities with Nordea Norge ASA are established. Nekkar has the following credit facilities through its facilitators:2023 2022Limit Drawn Limit DrawnGuarantee limit for Group (Nordea) 290 000 164 363 290 000 200 897 Overdraft facility (Nordea) 100 000 - 100 000 - Revolving Credit facility (Nordea) 100 000 - 100 000 - The finance agreements include pledges of plant and machinery, inventory and accounts receivables in Nekkar ASA, Techano Oceanlift AS and Syncrolift AS. The guarantee limit is utilised by Nekkar ASA, Techano Oceanlift AS and Syncrolift AS and cover payment guarantee, performance bonds, advance payment bonds and tax guarantees. Under the new credit facilities established in 2022, the financial covenants are a debt ratio based on net debt/EBITDA and an equity ratio based on equity/total assets.\u2022 The company\u2019s debt ratio shall not exceed 2,5 times the EBITDA and is calculated from the consolidated total interest bearing debt to the consolidated EBITDA.\u2022 Equity ratio shall not be lower than 35 percent, calculated from the consolidated total equity to consolidated total assets.The covenants also include a term related to Nekkar maintaining its 100 percent ownership in Syncrolift AS. The covenants are monitored on a regular basis to ensure compliance with the credit agreements which are tested and reported on a quarterly basis. Nekkar was in compliance with its covenants as of 31 December 2023. .For the above mentioned facilities the following assets have been pledged as collateral to Nordea: Assets pledged as collateral for secured debt: 2023 2022Account/Group receivables 77 588 125 947 Inventory/Work in progress, including non-invoiced production 151 706 125 035 Property, plant and equipment 9 068 8 995 Assets pledged as collateral * 238 362 259 976 * Assets pledged as collateral only includes Nekkar ASA, Syncrolift AS and Techano Oceanlift AS. The pledged assets are presented in the balance sheet under the differenct categories. In addition, investments in subsidiaries and intercompany balances and loans are eliminated in the group accounts.",
"dimensions": {
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"language": "en",
"entity": "scheme:5967007LIEEXZXIFE872",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
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"s6_notes__6__117": {
"value": "Note 12 Share capital and shareholder information Amounts in NOKDate Number of shares Nominal value Share capital31.12.2023 107 427 112 0.11 11 817 31.12.2022 106 780 334 0.11 11 746 In 2023 there was an increase in share capital of NOK 71 146 and an increase in share premium of NOK 3 287 354.The capital increase was related to a share purchase program where 646 778 shares were issued.Dividends paid and proposed: 2023 2022Dividend declared and paid during the year: per share - -Dividend proposed: per share - -Repayment of issued equity: NOK per share - -Share capital Treasury shares: Number of sharesTreasury shares as of 01.01.2022 6 632 1(NOK 1 000)Purchase/(sale) of treasury shares 2022 - -Purchase/(sale) of treasury shares 2023 1 392 333 153Treasury shares as of 31.12.2022 6 632 1Treasury shares as of 31.12.2023 1 398 965 154On August 29th Nekkar announced its decision to initiate a share buy-back programme. The share buy-back programme is executed in accordance with the authorisation granted to the Board of Directors by the Annual General Meeting of Nekkar held on 30 May 2023. The program will be used for corporate purposes in accordance with the above-mentioned authorisation. Nekkar currently holds 1,398,965 of its own shares, representing 1.3 percent of the company\u2019s total shares. The total transaction value for the purchased treasury shares in 2023 amounted to NOK 11.3 million4)Principal shareholders of Nekkar ASA as of 31.12.2023: Number of shares Ownership Voting shareShareholder1,3)Skeie Teknologi AS 31 475 823 29.3% 29.7%Rasmussengruppen AS 11 512 506 10.7% 10.9%MP Pensjon Pk 5 126 303 4.8% 4.8%Tigerstaden AS 5 000 000 4.7% 4.7%Nordnet Bank AB 4 994 006 4.6% 4.7%DNB Bank ASA 4 053 000 3.8% 3.8%Avanza Bank AB 3 953 850 3.7% 3.7%Hatle AS 2 755 361 2.6% 2.6%Vinterstua AS 1 570 279 1.5% 1.5%Seb Cmu/Secfin Pooled Account 1 520 528 1.4% 1.4%2)Skeie Consultants AS 1 507 243 1.4% 1.4%Itlution AS 1 475 261 1.4% 1.4%Nekkar ASA 1 365 965 1.3% 1.3%3)Skeie Kappa Invest AS 1 204 828 1.1% 1.1%Patronia AS 1 014 429 0.9% 1.0%Alundo Invest AS 1 000 000 0.9% 0.9%J\u00e6deren AS 896 330 0.8% 0.8%Sedal 810 000 0.8% 0.8%Avant AS 744 034 0.7% 0.7%Citibank Europe Plc 675 037 0.6% 0.6%Total, 20 largest shareholders 82 654 783 76.9% 78.0%Own shares 1 398 965 1.3% 0.0%Total other 23 373 364 21.8% 22.0%Total 107 427 112 100.0% 100.0%1) Shares owned or controlled by the Skeie family, and companies directly or indirectly controlled by them, holds 34 701 181 shares representing 32,5% of total shares. 2) Shares owned or controlled by Bjarne Skeie, and companies directly or indirectly controlled by him, holds 1 507 243 shares representing 1,4% of total shares. 3) Trym Skeie holds 513 287 shares in person and 1 204 828 through Skeie Kappa Invest AS. Total shares owned or controlled by Trym Skeie, and companies directly or indirectly controlled by him, is 1 718 115, representning 1,6% of total shares. 4) Voting portion are calculated after eliminating shares held by Nekkar ASA Shares, share options and convertion rights owned or controlled by Board members, Group executives and their relatives:Shares31.12.2023 31.12.2022 31.12.2021Board1)Trym Skeie1 718 115 1 669 970 1 632 939 Marit Solberg 127 140 96 809 73 479 Group Executives2)Ole Falk Hansen 296 601 200 311 -Marianne Voreland Ottosen 19 258 - -3)Petter Br\u00f8vig 96,290 - -Mette Harv 249 991 198 765 198 765 1) Trym Skeie holds 513 287 shares in person and 1 204 828 through Skeie Kappa Invest AS. Total shares owned or controlled by Trym Skeie, and companies directly or indirectly controlled by him, is 1 718 115, representning 1,6% of total shares . 2) Ole Falk Hansen holds 296 601 shares through OFH Invest AS. 3) Petter Br\u00f8vig holds 96 290 shares through Pimlico AS.On 30 May 2023, the Annual General Meeting adopted a resolution to give the Board general authority to issue a maximum of 21,485,422 shares against cash or non-monetary redemption, including merger related activities to acquisitions of business or assets within the same or corresponding business sector as the company. This authorisation is valid until the next Annual General Meeting and latest on 30 June 2024. No shares have been issued on the basis of this authorisation in 2023. On 30 May 2023, the Annual General Meeting adopted a resolution to give the Board authority to issue a maximum of 2,820,058 shares against cash redemption for the benefit of the company\u2019s executive management and Board members. This authorisation is valid until the next Annual General Meeting and latest on 30 June 2024. After 30 May 2023, 646,778 shares have been issued in relation to the share purchase programme.On 30 May 2023, the Annual General Meeting adopted a resolution to give the Board authority to buy own shares of up to 10 percent of the face value of the share capital of the company. The Board decides aquisition method, at a price between 1 to 25 NOK. This authorisation is valid until the next Annual General Meeting and latest on 30 June 2024. 1,392,333 shares have been bought back on the basis of this authorisation in 2023, at a total value of NOK 11,313,981.",
"dimensions": {
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"entity": "scheme:5967007LIEEXZXIFE872",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
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"s6_notes__6__116": {
"value": "Note 12 Share capital and shareholder information Amounts in NOKDate Number of shares Nominal value Share capital31.12.2023 107 427 112 0.11 11 817 31.12.2022 106 780 334 0.11 11 746 In 2023 there was an increase in share capital of NOK 71 146 and an increase in share premium of NOK 3 287 354.The capital increase was related to a share purchase program where 646 778 shares were issued.Dividends paid and proposed: 2023 2022Dividend declared and paid during the year: per share - -Dividend proposed: per share - -Repayment of issued equity: NOK per share - -Share capital Treasury shares: Number of sharesTreasury shares as of 01.01.2022 6 632 1(NOK 1 000)Purchase/(sale) of treasury shares 2022 - -Purchase/(sale) of treasury shares 2023 1 392 333 153Treasury shares as of 31.12.2022 6 632 1Treasury shares as of 31.12.2023 1 398 965 154On August 29th Nekkar announced its decision to initiate a share buy-back programme. The share buy-back programme is executed in accordance with the authorisation granted to the Board of Directors by the Annual General Meeting of Nekkar held on 30 May 2023. The program will be used for corporate purposes in accordance with the above-mentioned authorisation. Nekkar currently holds 1,398,965 of its own shares, representing 1.3 percent of the company\u2019s total shares. The total transaction value for the purchased treasury shares in 2023 amounted to NOK 11.3 million4)Principal shareholders of Nekkar ASA as of 31.12.2023: Number of shares Ownership Voting shareShareholder1,3)Skeie Teknologi AS 31 475 823 29.3% 29.7%Rasmussengruppen AS 11 512 506 10.7% 10.9%MP Pensjon Pk 5 126 303 4.8% 4.8%Tigerstaden AS 5 000 000 4.7% 4.7%Nordnet Bank AB 4 994 006 4.6% 4.7%DNB Bank ASA 4 053 000 3.8% 3.8%Avanza Bank AB 3 953 850 3.7% 3.7%Hatle AS 2 755 361 2.6% 2.6%Vinterstua AS 1 570 279 1.5% 1.5%Seb Cmu/Secfin Pooled Account 1 520 528 1.4% 1.4%2)Skeie Consultants AS 1 507 243 1.4% 1.4%Itlution AS 1 475 261 1.4% 1.4%Nekkar ASA 1 365 965 1.3% 1.3%3)Skeie Kappa Invest AS 1 204 828 1.1% 1.1%Patronia AS 1 014 429 0.9% 1.0%Alundo Invest AS 1 000 000 0.9% 0.9%J\u00e6deren AS 896 330 0.8% 0.8%Sedal 810 000 0.8% 0.8%Avant AS 744 034 0.7% 0.7%Citibank Europe Plc 675 037 0.6% 0.6%Total, 20 largest shareholders 82 654 783 76.9% 78.0%Own shares 1 398 965 1.3% 0.0%Total other 23 373 364 21.8% 22.0%Total 107 427 112 100.0% 100.0%1) Shares owned or controlled by the Skeie family, and companies directly or indirectly controlled by them, holds 34 701 181 shares representing 32,5% of total shares. 2) Shares owned or controlled by Bjarne Skeie, and companies directly or indirectly controlled by him, holds 1 507 243 shares representing 1,4% of total shares. 3) Trym Skeie holds 513 287 shares in person and 1 204 828 through Skeie Kappa Invest AS. Total shares owned or controlled by Trym Skeie, and companies directly or indirectly controlled by him, is 1 718 115, representning 1,6% of total shares. 4) Voting portion are calculated after eliminating shares held by Nekkar ASA Shares, share options and convertion rights owned or controlled by Board members, Group executives and their relatives:Shares31.12.2023 31.12.2022 31.12.2021Board1)Trym Skeie1 718 115 1 669 970 1 632 939 Marit Solberg 127 140 96 809 73 479 Group Executives2)Ole Falk Hansen 296 601 200 311 -Marianne Voreland Ottosen 19 258 - -3)Petter Br\u00f8vig 96,290 - -Mette Harv 249 991 198 765 198 765 1) Trym Skeie holds 513 287 shares in person and 1 204 828 through Skeie Kappa Invest AS. Total shares owned or controlled by Trym Skeie, and companies directly or indirectly controlled by him, is 1 718 115, representning 1,6% of total shares . 2) Ole Falk Hansen holds 296 601 shares through OFH Invest AS. 3) Petter Br\u00f8vig holds 96 290 shares through Pimlico AS.On 30 May 2023, the Annual General Meeting adopted a resolution to give the Board general authority to issue a maximum of 21,485,422 shares against cash or non-monetary redemption, including merger related activities to acquisitions of business or assets within the same or corresponding business sector as the company. This authorisation is valid until the next Annual General Meeting and latest on 30 June 2024. No shares have been issued on the basis of this authorisation in 2023. On 30 May 2023, the Annual General Meeting adopted a resolution to give the Board authority to issue a maximum of 2,820,058 shares against cash redemption for the benefit of the company\u2019s executive management and Board members. This authorisation is valid until the next Annual General Meeting and latest on 30 June 2024. After 30 May 2023, 646,778 shares have been issued in relation to the share purchase programme.On 30 May 2023, the Annual General Meeting adopted a resolution to give the Board authority to buy own shares of up to 10 percent of the face value of the share capital of the company. The Board decides aquisition method, at a price between 1 to 25 NOK. This authorisation is valid until the next Annual General Meeting and latest on 30 June 2024. 1,392,333 shares have been bought back on the basis of this authorisation in 2023, at a total value of NOK 11,313,981.",
"dimensions": {
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"language": "en",
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"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
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"s6_notes__6__119": {
"value": "Dividends paid and proposed: 2023 2022Dividend declared and paid during the year: per share - -Dividend proposed: per share - -Repayment of issued equity: NOK per share - -",
"dimensions": {
"concept": "ifrs-full:DisclosureOfDividendsExplanatory",
"language": "en",
"entity": "scheme:5967007LIEEXZXIFE872",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
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"s6_notes__6__118": {
"value": "Share capital Treasury shares: Number of sharesTreasury shares as of 01.01.2022 6 632 1(NOK 1 000)Purchase/(sale) of treasury shares 2022 - -Purchase/(sale) of treasury shares 2023 1 392 333 153Treasury shares as of 31.12.2022 6 632 1Treasury shares as of 31.12.2023 1 398 965 154",
"dimensions": {
"concept": "ifrs-full:DisclosureOfTreasurySharesExplanatory",
"language": "en",
"entity": "scheme:5967007LIEEXZXIFE872",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
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"s6_notes__6__120": {
"value": "Shares, share options and convertion rights owned or controlled by Board members, Group executives and their relatives:Shares31.12.2023 31.12.2022 31.12.2021Board1)Trym Skeie1 718 115 1 669 970 1 632 939 Marit Solberg 127 140 96 809 73 479 Group Executives2)Ole Falk Hansen 296 601 200 311 -Marianne Voreland Ottosen 19 258 - -3)Petter Br\u00f8vig 96,290 - -Mette Harv 249 991 198 765 198 765 1) Trym Skeie holds 513 287 shares in person and 1 204 828 through Skeie Kappa Invest AS. Total shares owned or controlled by Trym Skeie, and companies directly or indirectly controlled by him, is 1 718 115, representning 1,6% of total shares . 2) Ole Falk Hansen holds 296 601 shares through OFH Invest AS. 3) Petter Br\u00f8vig holds 96 290 shares through Pimlico AS.On 30 May 2023, the Annual General Meeting adopted a resolution to give the Board general authority to issue a maximum of 21,485,422 shares against cash or non-monetary redemption, including merger related activities to acquisitions of business or assets within the same or corresponding business sector as the company. This authorisation is valid until the next Annual General Meeting and latest on 30 June 2024. No shares have been issued on the basis of this authorisation in 2023. On 30 May 2023, the Annual General Meeting adopted a resolution to give the Board authority to issue a maximum of 2,820,058 shares against cash redemption for the benefit of the company\u2019s executive management and Board members. This authorisation is valid until the next Annual General Meeting and latest on 30 June 2024. After 30 May 2023, 646,778 shares have been issued in relation to the share purchase programme.On 30 May 2023, the Annual General Meeting adopted a resolution to give the Board authority to buy own shares of up to 10 percent of the face value of the share capital of the company. The Board decides aquisition method, at a price between 1 to 25 NOK. This authorisation is valid until the next Annual General Meeting and latest on 30 June 2024. 1,392,333 shares have been bought back on the basis of this authorisation in 2023, at a total value of NOK 11,313,981.",
"dimensions": {
"concept": "ifrs-full:DisclosureOfSharebasedPaymentArrangementsExplanatory",
"language": "en",
"entity": "scheme:5967007LIEEXZXIFE872",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
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"s6_notes__6__123": {
"value": "Note 13 Tax Amounts in NOK 1000Deferred tax assets related to losses which can be carried forward for tax purposes, are reported if the management believes it is likely that the company can use these against expected taxable income for the upcoming five years. Tax asset of MNOK 0 (2022: MNOK 7) have been recognised as per 31 December 2023. Intellilift AS, which is held by 51 percent by Nekkar ASA, is not part of the Norwegian tax group.The following criteria have been applied to assess the likelihood of taxable income against which unused tax losses may be utilised:\u2022 the Group has sufficient temporary differences\u2022 the entities is expected to have taxable profits. Tax losses carried forward do not expire within the Norwegian tax system. \u2022 tax losses are induced by specific identifiable causes\u2022 the Group do not carry any uncertainty over income tax treatmentsDeferred tax liabilities and deferred tax assets are netted if the Group has a legal right to offset deferred tax assets against deferred taxes in the balance sheet, and if the deferred taxes are owed to the same tax authorities.Income tax expense: 2023 2022Payable tax on profit 1 512 1 568 *)Change in deferred tax24 443 8 413 Changes in unrecognised deferred tax asset - - Tax expense 25 955 9 981 *) Includes TNOK -73 related to deferred tax on excess values from the acquisition of Intellilift in 2019.Reconciliation of the effective tax rate 2023 2022Profit before tax 109 264 42 634 Expected income tax according to income tax rate in Norway (22%) 24 038 9 380 Permanent differences 550 351 Adjustment in tax in prior years 1 367 250 Tax expence in the profit and loss statement 25 955 9 981 Payable tax including witholding taxes - -Effective tax rate 23.8% 23.4%Tax payable in the balance sheet 2023 2022Tax payable, (including withholding taxes) 1 512 1 571 Total tax payable in balance sheet at year end 1 512 1 571 Deferred tax assets: 2023 2022Fixed assets 534 626 Projects under construction -45 404 -19 967 Current assets 4 306 2 853 Other temporary differences / provisions 833 3 325 Tax losses to be carried forward 21 872 20 723 Gross deferred tax -17 859 7 560 - Unrecognised tax losses - -527 Net recognised deferred tax -17 859 7 033",
"dimensions": {
"concept": "ifrs-full:DisclosureOfTaxReceivablesAndPayablesExplanatory",
"language": "en",
"entity": "scheme:5967007LIEEXZXIFE872",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"s6_notes__6__122": {
"value": "Note 13 Tax Amounts in NOK 1000Deferred tax assets related to losses which can be carried forward for tax purposes, are reported if the management believes it is likely that the company can use these against expected taxable income for the upcoming five years. Tax asset of MNOK 0 (2022: MNOK 7) have been recognised as per 31 December 2023. Intellilift AS, which is held by 51 percent by Nekkar ASA, is not part of the Norwegian tax group.The following criteria have been applied to assess the likelihood of taxable income against which unused tax losses may be utilised:\u2022 the Group has sufficient temporary differences\u2022 the entities is expected to have taxable profits. Tax losses carried forward do not expire within the Norwegian tax system. \u2022 tax losses are induced by specific identifiable causes\u2022 the Group do not carry any uncertainty over income tax treatmentsDeferred tax liabilities and deferred tax assets are netted if the Group has a legal right to offset deferred tax assets against deferred taxes in the balance sheet, and if the deferred taxes are owed to the same tax authorities.Income tax expense: 2023 2022Payable tax on profit 1 512 1 568 *)Change in deferred tax24 443 8 413 Changes in unrecognised deferred tax asset - - Tax expense 25 955 9 981 *) Includes TNOK -73 related to deferred tax on excess values from the acquisition of Intellilift in 2019.Reconciliation of the effective tax rate 2023 2022Profit before tax 109 264 42 634 Expected income tax according to income tax rate in Norway (22%) 24 038 9 380 Permanent differences 550 351 Adjustment in tax in prior years 1 367 250 Tax expence in the profit and loss statement 25 955 9 981 Payable tax including witholding taxes - -Effective tax rate 23.8% 23.4%Tax payable in the balance sheet 2023 2022Tax payable, (including withholding taxes) 1 512 1 571 Total tax payable in balance sheet at year end 1 512 1 571 Deferred tax assets: 2023 2022Fixed assets 534 626 Projects under construction -45 404 -19 967 Current assets 4 306 2 853 Other temporary differences / provisions 833 3 325 Tax losses to be carried forward 21 872 20 723 Gross deferred tax -17 859 7 560 - Unrecognised tax losses - -527 Net recognised deferred tax -17 859 7 033",
"dimensions": {
"concept": "ifrs-full:DisclosureOfIncomeTaxExplanatory",
"language": "en",
"entity": "scheme:5967007LIEEXZXIFE872",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"s6_notes__6__121": {
"value": "Note 13 Tax Amounts in NOK 1000Deferred tax assets related to losses which can be carried forward for tax purposes, are reported if the management believes it is likely that the company can use these against expected taxable income for the upcoming five years. Tax asset of MNOK 0 (2022: MNOK 7) have been recognised as per 31 December 2023. Intellilift AS, which is held by 51 percent by Nekkar ASA, is not part of the Norwegian tax group.The following criteria have been applied to assess the likelihood of taxable income against which unused tax losses may be utilised:\u2022 the Group has sufficient temporary differences\u2022 the entities is expected to have taxable profits. Tax losses carried forward do not expire within the Norwegian tax system. \u2022 tax losses are induced by specific identifiable causes\u2022 the Group do not carry any uncertainty over income tax treatmentsDeferred tax liabilities and deferred tax assets are netted if the Group has a legal right to offset deferred tax assets against deferred taxes in the balance sheet, and if the deferred taxes are owed to the same tax authorities.Income tax expense: 2023 2022Payable tax on profit 1 512 1 568 *)Change in deferred tax24 443 8 413 Changes in unrecognised deferred tax asset - - Tax expense 25 955 9 981 *) Includes TNOK -73 related to deferred tax on excess values from the acquisition of Intellilift in 2019.Reconciliation of the effective tax rate 2023 2022Profit before tax 109 264 42 634 Expected income tax according to income tax rate in Norway (22%) 24 038 9 380 Permanent differences 550 351 Adjustment in tax in prior years 1 367 250 Tax expence in the profit and loss statement 25 955 9 981 Payable tax including witholding taxes - -Effective tax rate 23.8% 23.4%Tax payable in the balance sheet 2023 2022Tax payable, (including withholding taxes) 1 512 1 571 Total tax payable in balance sheet at year end 1 512 1 571 Deferred tax assets: 2023 2022Fixed assets 534 626 Projects under construction -45 404 -19 967 Current assets 4 306 2 853 Other temporary differences / provisions 833 3 325 Tax losses to be carried forward 21 872 20 723 Gross deferred tax -17 859 7 560 - Unrecognised tax losses - -527 Net recognised deferred tax -17 859 7 033",
"dimensions": {
"concept": "ifrs-full:DisclosureOfDeferredTaxesExplanatory",
"language": "en",
"entity": "scheme:5967007LIEEXZXIFE872",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"s6_notes__6__124": {
"value": "Note 14 Earnings per share Amounts in NOK 1000Basic earnings per share Basic earnings per share are calculated by dividing net profit for the year attributable to ordinary equity holders of the parent by the weighted average number of ordinary shares outstanding during the year.2023 2022Net profit attributable to ordinary equity holders of the parent from total operations 83 309 31 839 Weighted average of issued shares excluding own shares 106 226 106 327 Earnings per share - total (NOK per share) 0.78 0.30 Diluted earnings per share:There are no diluted effects in 2023.Share structure 2023 2022Issued number of shares 107 427 112 106 780 334 Own shares 1 398 965 6 632",
"dimensions": {
"concept": "ifrs-full:DisclosureOfEarningsPerShareExplanatory",
"language": "en",
"entity": "scheme:5967007LIEEXZXIFE872",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"s6_notes__6__126": {
"value": "Note 15 Other operating expenses Amounts in NOK 10002023 2022Premises and office expenses 2 557 2 488 IT costs 5 147 4 384 Marketing and travel expenses 16 497 8 319 Consultancy and external services 12 720 11 640 Other expenses 4 499 5 951 Total other operating expenses 41 420 32 781",
"dimensions": {
"concept": "ifrs-full:DisclosureOfGeneralAndAdministrativeExpenseExplanatory",
"language": "en",
"entity": "scheme:5967007LIEEXZXIFE872",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"s6_notes__6__125": {
"value": "Note 15 Other operating expenses Amounts in NOK 10002023 2022Premises and office expenses 2 557 2 488 IT costs 5 147 4 384 Marketing and travel expenses 16 497 8 319 Consultancy and external services 12 720 11 640 Other expenses 4 499 5 951 Total other operating expenses 41 420 32 781",
"dimensions": {
"concept": "ifrs-full:DisclosureOfOtherOperatingExpenseExplanatory",
"language": "en",
"entity": "scheme:5967007LIEEXZXIFE872",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"s6_notes__6__130": {
"value": "Note 16 Related partiesNekkar ASA is the ultimate parent based and listed in Norway.The subsidiaries (Note 8), members of the Board (Note 4) and members of the Senior Executive Group (Note 4), and affiliated company (note 10) are considered as related parties. Transactions between subsidiaries have been eliminated in the consolidation financial statements. The Group has carried out various transactions with subsidiaries in 2023. All the transactions have been carried out as part of the ordinary business and on an arm\u2019s length basis. For the year ended 31 December 2023, the Group has not recorded any impairment of receivables relating to the amounts owed by related parties (2022: MNOK 0).Nekkar has entered into a lease agreement for headquarter offices effective from April 2023 with Lumber Teknopark AS, which is ultimately owned 51 percent by Skeiegruppen AS. The contract term is 5 year and 6 months starting from April 2023, with an additonal five-year option. Total lease payments in 2023 was 2,043. Impairment assessment is part of the annual evaluation with regard to the financial position of the related party, and the market in which the related party operates.Information on Board and Senior Executive Group\u2019s shares are included in Note 12.In 2019 Nekkar completed the acquisition of Intellilift AS and purchased 51 percent of the shares of the company. 21 percent of the shares were acquired from Skeie Consultants AS. Skeie Consultants AS, which is owned by primary insiders of Nekkar ASA, holds 19.9 percent of the shares in Intellilift AS as per 31 December 2023.",
"dimensions": {
"concept": "ifrs-full:DisclosureOfRelatedPartyExplanatory",
"language": "en",
"entity": "scheme:5967007LIEEXZXIFE872",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"s6_notes__6__132-1": {
"value": "Note 17 Derivatives Amounts in NOK 10002023 2022Net Net market market Forward currency contracts - Market values Assets Liabilitiesvalue Assets LiabilitiesvalueForward currency contracts - effective hedging contracts - - - - -27 -27 Forward currency contracts - ineffective hedging contracts - 1)included in other liabilities/assets 20 623 -482 20 141 61 -7 232 -7 171 Forward currency contracts - market value 20 623 -482 20 141 60 -7 260 -7 198 Total Total MTM MTM Maturity distribution of currency contracts and MTM:valuesvaluesWithin 3 months 7 716 -1 907> 3 months, < 6 months 2 524 -2 080> 6 months, < 9 months 2 920 -3 065> 9 months, < 12 months 3 954 -135> 12 months, < 24 months 3 026 -11> 24 Months 0 0Total 20 141 -7 198 1) FX contracts designed for hedging, but do not qualify for hedge accounting.Nominal value currency contracts, original currency 2023 2022Amounts in CUR 1000 Sold Bought Sold BoughtNOK - 294 975 34 725 312 892 USD 22 600 - 31 606 - EUR 4 100 - 1 107 3 300 SGD - - - - Other balance sheets effects 2023 2022FV of firm commitment, classified as other receivable - -27 FV of firm commitment, classified as other short term debt - - Capitalised cost relating to prolonging of effective hedge relationship, classified as other receivables - 137Note 20 Financial risk management Amounts in NOK 1000The following table shows the carrying amount and fair values of financial assets and financial liabilities, including their levels in the fair value hierarchy. It does not include fair value information for financial assets and financial liabilities not measured at fair value if the carrying amount is a reasonable approximation of fair value.Financial assets and liabilities are described in Accounting Principles, under sections 2.8, 2.9, 2.10, 2.12, 2.13 and 2.14.Risks associated with the underlying estimates of the recognised values and financial risk management is described in Accounting Principles, ref section 3. .Financial derivative contracts Financial derivative Loans, not designated for hedging / contracts designated cash and Classification of financial assetsineffective hedgesfor hedgingreceivables Total2023Non current financial assets:Shares available for sale - - - - Other receivables - - - - Financial current assets:Trade receivables - - 85 270 85 270 Other current receivables - - 6 387 6 387 Accrued, non-invoiced production - - 144 007 144 007 1)Derivatives 20 144 - 20 144 Prepayment to suppliers - - 194 162 194 162 Cash and cash equivalents - - 429 826 449 970 Total financial assets 20 144 - 408 898 408 898 2022Non current financial assets:Shares available for sale - - - - Other receivables - - - - Financial current assets:Trade receivables - - 106 875 106 875 Other current receivables - - 7 126 7 126 Accrued, non-invoiced production - - 113 616 113 616 1)Derivatives - - - Prepayment to suppliers - - - - Cash and cash equivalents - - 181 281 181 281 Total financial assets - - 408 898 408 898 1) Fair value of financial liabilities: The Group\u2019s derivatives consist of forward currency contracts. Fair value of forward currency contracts is determined by utilising market-to-market rate on the balance-sheet date as stated by the Group\u2019s bank. Fair value relating to non-current debt is considered approximately equal to carrying value, as loans are given at market terms and with a floating rate.Financial derivative Financial derivative Other contracts not designated for contracts designated financial Classification of financial liabilities:hedging / ineffective hedgesfor hedgingliabilities Total2023Non-current financial liabilitiesInterest-bearing non-current debt - - - - Current financial liabilitiesFirst year instalment of non-current debt - - - - Interest-bearing current liabilities - - - - Prepayments from customers - - 39 002 39 002 1)Derivatives - - - Accounts payable and other short-term liabilities - - 103 542 103 542 Total financial liabilities - - 142 544 142 544 2022Non-current financial liabilitiesInterest-bearing non-current debt - - - - Current financial liabilitiesFirst year instalment of non-current debt - - - - Interest-bearing current liabilities - - - - Prepayments from customers - - 42 418 42 418 1)Derivatives 7 171 27 - 7 198 Accounts payable and other short-term liabilities - - 101 840 101 840 Total financial liabilities 7 171 27 144 259 151 457 1) Fair value of financial liabilities: The Group\u2019s derivatives consist of forward currency contracts. Fair value of forward currency contracts is determined by utilising market-to-market rate on the balance-sheet date as stated by the Group\u2019s bank. Fair value relating to non-current debt is considered approximately equal to carrying value, as loans are given at market terms and with a floating rate.The Group uses the following hierarchy for determining and disclosing the fair value of financial instruments by valuation technique:\u2022 Level 1: Quoted (unadjusted) prices in active markets for identical assets or liabilities\u2022 Level 2: Other techniques for which all inputs which have a significant effect on the recorded fair value are observable, either directly or indirectly\u2022 Level 3: Techniques which use inputs which have a significant effect on the recorded fair value that are not based on observable market data.2023 2022Overall Level 1 Level 2 Level 3 Overall Level 1 Level 2 Level 3Assets measured at fair valueForeign exchange contracts - non-hedging Foreign exchange contracts - hedging - - - - - - - - 20 144 - 20 144- - - - - Liabilities measured at fair valueForeign exchange contracts - hedging - - - - 27 - 27 - Foreign exchange contracts - non-hedging - - - - 7 171 - 7 171 -",
"dimensions": {
"concept": "ifrs-full:DisclosureOfFinancialInstrumentsExplanatory",
"language": "en",
"entity": "scheme:5967007LIEEXZXIFE872",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"s6_notes__6__131-1": {
"value": "Note 17 Derivatives Amounts in NOK 10002023 2022Net Net market market Forward currency contracts - Market values Assets Liabilitiesvalue Assets LiabilitiesvalueForward currency contracts - effective hedging contracts - - - - -27 -27 Forward currency contracts - ineffective hedging contracts - 1)included in other liabilities/assets 20 623 -482 20 141 61 -7 232 -7 171 Forward currency contracts - market value 20 623 -482 20 141 60 -7 260 -7 198 Total Total MTM MTM Maturity distribution of currency contracts and MTM:valuesvaluesWithin 3 months 7 716 -1 907> 3 months, < 6 months 2 524 -2 080> 6 months, < 9 months 2 920 -3 065> 9 months, < 12 months 3 954 -135> 12 months, < 24 months 3 026 -11> 24 Months 0 0Total 20 141 -7 198 1) FX contracts designed for hedging, but do not qualify for hedge accounting.Nominal value currency contracts, original currency 2023 2022Amounts in CUR 1000 Sold Bought Sold BoughtNOK - 294 975 34 725 312 892 USD 22 600 - 31 606 - EUR 4 100 - 1 107 3 300 SGD - - - - Other balance sheets effects 2023 2022FV of firm commitment, classified as other receivable - -27 FV of firm commitment, classified as other short term debt - - Capitalised cost relating to prolonging of effective hedge relationship, classified as other receivables - 137Forward currency contractsDerivatives are recognised at fair value on the contract date. The value is adjusted to fair value at the end of each balance sheet date. The value is set to observable market price, Note 20. The changes in the fair value of derivatives are recognised in the P&L as financial income or expense. The asset or liability being hedged is contractual income or cost related to production cost. The hedged asset or liability represents, among other things, the part of the contractual income or cost that has not been invoiced on the balance sheet date, or where invoices have not been received from the supplier. For additional information on foreign currency and appurtenant risks, please refer to Accounting principles, and see section 2.8 and 3.1.Note 20 Financial risk management Amounts in NOK 1000The following table shows the carrying amount and fair values of financial assets and financial liabilities, including their levels in the fair value hierarchy. It does not include fair value information for financial assets and financial liabilities not measured at fair value if the carrying amount is a reasonable approximation of fair value.Financial assets and liabilities are described in Accounting Principles, under sections 2.8, 2.9, 2.10, 2.12, 2.13 and 2.14.Risks associated with the underlying estimates of the recognised values and financial risk management is described in Accounting Principles, ref section 3. .Financial derivative contracts Financial derivative Loans, not designated for hedging / contracts designated cash and Classification of financial assetsineffective hedgesfor hedgingreceivables Total2023Non current financial assets:Shares available for sale - - - - Other receivables - - - - Financial current assets:Trade receivables - - 85 270 85 270 Other current receivables - - 6 387 6 387 Accrued, non-invoiced production - - 144 007 144 007 1)Derivatives 20 144 - 20 144 Prepayment to suppliers - - 194 162 194 162 Cash and cash equivalents - - 429 826 449 970 Total financial assets 20 144 - 408 898 408 898 2022Non current financial assets:Shares available for sale - - - - Other receivables - - - - Financial current assets:Trade receivables - - 106 875 106 875 Other current receivables - - 7 126 7 126 Accrued, non-invoiced production - - 113 616 113 616 1)Derivatives - - - Prepayment to suppliers - - - - Cash and cash equivalents - - 181 281 181 281 Total financial assets - - 408 898 408 898 1) Fair value of financial liabilities: The Group\u2019s derivatives consist of forward currency contracts. Fair value of forward currency contracts is determined by utilising market-to-market rate on the balance-sheet date as stated by the Group\u2019s bank. Fair value relating to non-current debt is considered approximately equal to carrying value, as loans are given at market terms and with a floating rate.Financial derivative Financial derivative Other contracts not designated for contracts designated financial Classification of financial liabilities:hedging / ineffective hedgesfor hedgingliabilities Total2023Non-current financial liabilitiesInterest-bearing non-current debt - - - - Current financial liabilitiesFirst year instalment of non-current debt - - - - Interest-bearing current liabilities - - - - Prepayments from customers - - 39 002 39 002 1)Derivatives - - - Accounts payable and other short-term liabilities - - 103 542 103 542 Total financial liabilities - - 142 544 142 544 2022Non-current financial liabilitiesInterest-bearing non-current debt - - - - Current financial liabilitiesFirst year instalment of non-current debt - - - - Interest-bearing current liabilities - - - - Prepayments from customers - - 42 418 42 418 1)Derivatives 7 171 27 - 7 198 Accounts payable and other short-term liabilities - - 101 840 101 840 Total financial liabilities 7 171 27 144 259 151 457 1) Fair value of financial liabilities: The Group\u2019s derivatives consist of forward currency contracts. Fair value of forward currency contracts is determined by utilising market-to-market rate on the balance-sheet date as stated by the Group\u2019s bank. Fair value relating to non-current debt is considered approximately equal to carrying value, as loans are given at market terms and with a floating rate.The Group uses the following hierarchy for determining and disclosing the fair value of financial instruments by valuation technique:\u2022 Level 1: Quoted (unadjusted) prices in active markets for identical assets or liabilities\u2022 Level 2: Other techniques for which all inputs which have a significant effect on the recorded fair value are observable, either directly or indirectly\u2022 Level 3: Techniques which use inputs which have a significant effect on the recorded fair value that are not based on observable market data.2023 2022Overall Level 1 Level 2 Level 3 Overall Level 1 Level 2 Level 3Assets measured at fair valueForeign exchange contracts - non-hedging Foreign exchange contracts - hedging - - - - - - - - 20 144 - 20 144- - - - - Liabilities measured at fair valueForeign exchange contracts - hedging - - - - 27 - 27 - Foreign exchange contracts - non-hedging - - - - 7 171 - 7 171 -",
"dimensions": {
"concept": "ifrs-full:DisclosureOfDerivativeFinancialInstrumentsExplanatory",
"language": "en",
"entity": "scheme:5967007LIEEXZXIFE872",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"s6_notes__6__133-1": {
"value": "Forward currency contractsDerivatives are recognised at fair value on the contract date. The value is adjusted to fair value at the end of each balance sheet date. The value is set to observable market price, Note 20. The changes in the fair value of derivatives are recognised in the P&L as financial income or expense. The asset or liability being hedged is contractual income or cost related to production cost. The hedged asset or liability represents, among other things, the part of the contractual income or cost that has not been invoiced on the balance sheet date, or where invoices have not been received from the supplier. For additional information on foreign currency and appurtenant risks, please refer to Accounting principles, and see section 2.8 and 3.1.Note 18 Financial items and foreign currency gains/losses Amounts in NOK 10002023 2022Interest income 12 662 4 884 Agio 6 847 12 037 Other financial income 4 590 - Financial income 24 099 16 921 Interest expenses 6 647 3 437 Disagio - 27 052 Other financial expenses 2 178 622 Loss in equity accounted investments 7 083 - Financial expenses 15 907 31 111 Net finance 8 191 -14 190",
"dimensions": {
"concept": "ifrs-full:DisclosureOfEffectOfChangesInForeignExchangeRatesExplanatory",
"language": "en",
"entity": "scheme:5967007LIEEXZXIFE872",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"s6_notes__6__139": {
"value": "Note 18 Financial items and foreign currency gains/losses Amounts in NOK 10002023 2022Interest income 12 662 4 884 Agio 6 847 12 037 Other financial income 4 590 - Financial income 24 099 16 921 Interest expenses 6 647 3 437 Disagio - 27 052 Other financial expenses 2 178 622 Loss in equity accounted investments 7 083 - Financial expenses 15 907 31 111 Net finance 8 191 -14 190",
"dimensions": {
"concept": "ifrs-full:DisclosureOfInterestExpenseExplanatory",
"language": "en",
"entity": "scheme:5967007LIEEXZXIFE872",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"s6_notes__6__138": {
"value": "Note 18 Financial items and foreign currency gains/losses Amounts in NOK 10002023 2022Interest income 12 662 4 884 Agio 6 847 12 037 Other financial income 4 590 - Financial income 24 099 16 921 Interest expenses 6 647 3 437 Disagio - 27 052 Other financial expenses 2 178 622 Loss in equity accounted investments 7 083 - Financial expenses 15 907 31 111 Net finance 8 191 -14 190",
"dimensions": {
"concept": "ifrs-full:DisclosureOfInterestIncomeExplanatory",
"language": "en",
"entity": "scheme:5967007LIEEXZXIFE872",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"s6_notes__6__137": {
"value": "Note 18 Financial items and foreign currency gains/losses Amounts in NOK 10002023 2022Interest income 12 662 4 884 Agio 6 847 12 037 Other financial income 4 590 - Financial income 24 099 16 921 Interest expenses 6 647 3 437 Disagio - 27 052 Other financial expenses 2 178 622 Loss in equity accounted investments 7 083 - Financial expenses 15 907 31 111 Net finance 8 191 -14 190",
"dimensions": {
"concept": "ifrs-full:DisclosureOfInterestIncomeExpenseExplanatory",
"language": "en",
"entity": "scheme:5967007LIEEXZXIFE872",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"s6_notes__6__136": {
"value": "Note 18 Financial items and foreign currency gains/losses Amounts in NOK 10002023 2022Interest income 12 662 4 884 Agio 6 847 12 037 Other financial income 4 590 - Financial income 24 099 16 921 Interest expenses 6 647 3 437 Disagio - 27 052 Other financial expenses 2 178 622 Loss in equity accounted investments 7 083 - Financial expenses 15 907 31 111 Net finance 8 191 -14 190",
"dimensions": {
"concept": "ifrs-full:DisclosureOfFinanceCostExplanatory",
"language": "en",
"entity": "scheme:5967007LIEEXZXIFE872",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"s6_notes__6__135": {
"value": "Note 18 Financial items and foreign currency gains/losses Amounts in NOK 10002023 2022Interest income 12 662 4 884 Agio 6 847 12 037 Other financial income 4 590 - Financial income 24 099 16 921 Interest expenses 6 647 3 437 Disagio - 27 052 Other financial expenses 2 178 622 Loss in equity accounted investments 7 083 - Financial expenses 15 907 31 111 Net finance 8 191 -14 190",
"dimensions": {
"concept": "ifrs-full:DisclosureOfFinanceIncomeExplanatory",
"language": "en",
"entity": "scheme:5967007LIEEXZXIFE872",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"s6_notes__6__134": {
"value": "Note 18 Financial items and foreign currency gains/losses Amounts in NOK 10002023 2022Interest income 12 662 4 884 Agio 6 847 12 037 Other financial income 4 590 - Financial income 24 099 16 921 Interest expenses 6 647 3 437 Disagio - 27 052 Other financial expenses 2 178 622 Loss in equity accounted investments 7 083 - Financial expenses 15 907 31 111 Net finance 8 191 -14 190",
"dimensions": {
"concept": "ifrs-full:DisclosureOfFinanceIncomeExpenseExplanatory",
"language": "en",
"entity": "scheme:5967007LIEEXZXIFE872",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"s6_notes__6__146": {
"value": "Note 19 Provisions and other accruals Amounts in NOK 10002023 2022Accrued wages and salaries 10 625 8 632 Accrued holiday pay 8 084 5 957 Provision for warranty 3 310 7 929 Other accrued expenses 13 628 24 399 Total provisions and other accruals 35 647 46 918 Provision for warrantyDEVELOPMENT OF SIGNIFICANT PROVISIONS 2023 2022Balance as of December 31, 2022 7 929 26 577 New provision 1 490 2 644 Provision utilised (2 688) (4 080)Provision reversed (3 421) (17 213)Balance as of December 31, 2023 3 310 7 929 A warranty provision is recognised for expected claims on installations delivered during the year. A total warranty provision of MNOK 3 have been recognised as per 31 December 2023.There is an inherent uncertainty related to the amount of future warranty claims - however based on management\u2019s judgments of possible outcomes, a general warranty provision in the region of 2 percent of the contract value on delivered new building projects have been applied. It is expected that these costs will be incurred during the guarantee period for the respective deliveries, which normally vary from 12-36 months.Risk related to the estimates that form the basis for the book values are further described in Accounting principles, under sections 2.16 and 4.",
"dimensions": {
"concept": "ifrs-full:DisclosureOfProvisionsExplanatory",
"language": "en",
"entity": "scheme:5967007LIEEXZXIFE872",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"s6_notes__6__145": {
"value": "Note 19 Provisions and other accruals Amounts in NOK 10002023 2022Accrued wages and salaries 10 625 8 632 Accrued holiday pay 8 084 5 957 Provision for warranty 3 310 7 929 Other accrued expenses 13 628 24 399 Total provisions and other accruals 35 647 46 918 Provision for warrantyDEVELOPMENT OF SIGNIFICANT PROVISIONS 2023 2022Balance as of December 31, 2022 7 929 26 577 New provision 1 490 2 644 Provision utilised (2 688) (4 080)Provision reversed (3 421) (17 213)Balance as of December 31, 2023 3 310 7 929 A warranty provision is recognised for expected claims on installations delivered during the year. A total warranty provision of MNOK 3 have been recognised as per 31 December 2023.There is an inherent uncertainty related to the amount of future warranty claims - however based on management\u2019s judgments of possible outcomes, a general warranty provision in the region of 2 percent of the contract value on delivered new building projects have been applied. It is expected that these costs will be incurred during the guarantee period for the respective deliveries, which normally vary from 12-36 months.Risk related to the estimates that form the basis for the book values are further described in Accounting principles, under sections 2.16 and 4.",
"dimensions": {
"concept": "ifrs-full:DisclosureOfOtherCurrentLiabilitiesExplanatory",
"language": "en",
"entity": "scheme:5967007LIEEXZXIFE872",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"s6_notes__6__144": {
"value": "Note 19 Provisions and other accruals Amounts in NOK 10002023 2022Accrued wages and salaries 10 625 8 632 Accrued holiday pay 8 084 5 957 Provision for warranty 3 310 7 929 Other accrued expenses 13 628 24 399 Total provisions and other accruals 35 647 46 918 Provision for warrantyDEVELOPMENT OF SIGNIFICANT PROVISIONS 2023 2022Balance as of December 31, 2022 7 929 26 577 New provision 1 490 2 644 Provision utilised (2 688) (4 080)Provision reversed (3 421) (17 213)Balance as of December 31, 2023 3 310 7 929 A warranty provision is recognised for expected claims on installations delivered during the year. A total warranty provision of MNOK 3 have been recognised as per 31 December 2023.There is an inherent uncertainty related to the amount of future warranty claims - however based on management\u2019s judgments of possible outcomes, a general warranty provision in the region of 2 percent of the contract value on delivered new building projects have been applied. It is expected that these costs will be incurred during the guarantee period for the respective deliveries, which normally vary from 12-36 months.Risk related to the estimates that form the basis for the book values are further described in Accounting principles, under sections 2.16 and 4.",
"dimensions": {
"concept": "ifrs-full:DisclosureOfOtherLiabilitiesExplanatory",
"language": "en",
"entity": "scheme:5967007LIEEXZXIFE872",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"s6_notes__6__143": {
"value": "Note 19 Provisions and other accruals Amounts in NOK 10002023 2022Accrued wages and salaries 10 625 8 632 Accrued holiday pay 8 084 5 957 Provision for warranty 3 310 7 929 Other accrued expenses 13 628 24 399 Total provisions and other accruals 35 647 46 918 Provision for warrantyDEVELOPMENT OF SIGNIFICANT PROVISIONS 2023 2022Balance as of December 31, 2022 7 929 26 577 New provision 1 490 2 644 Provision utilised (2 688) (4 080)Provision reversed (3 421) (17 213)Balance as of December 31, 2023 3 310 7 929 A warranty provision is recognised for expected claims on installations delivered during the year. A total warranty provision of MNOK 3 have been recognised as per 31 December 2023.There is an inherent uncertainty related to the amount of future warranty claims - however based on management\u2019s judgments of possible outcomes, a general warranty provision in the region of 2 percent of the contract value on delivered new building projects have been applied. It is expected that these costs will be incurred during the guarantee period for the respective deliveries, which normally vary from 12-36 months.Risk related to the estimates that form the basis for the book values are further described in Accounting principles, under sections 2.16 and 4.",
"dimensions": {
"concept": "ifrs-full:DisclosureOfOtherProvisionsContingentLiabilitiesAndContingentAssetsExplanatory",
"language": "en",
"entity": "scheme:5967007LIEEXZXIFE872",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"s6_notes__6__142": {
"value": "Note 19 Provisions and other accruals Amounts in NOK 10002023 2022Accrued wages and salaries 10 625 8 632 Accrued holiday pay 8 084 5 957 Provision for warranty 3 310 7 929 Other accrued expenses 13 628 24 399 Total provisions and other accruals 35 647 46 918 Provision for warrantyDEVELOPMENT OF SIGNIFICANT PROVISIONS 2023 2022Balance as of December 31, 2022 7 929 26 577 New provision 1 490 2 644 Provision utilised (2 688) (4 080)Provision reversed (3 421) (17 213)Balance as of December 31, 2023 3 310 7 929 A warranty provision is recognised for expected claims on installations delivered during the year. A total warranty provision of MNOK 3 have been recognised as per 31 December 2023.There is an inherent uncertainty related to the amount of future warranty claims - however based on management\u2019s judgments of possible outcomes, a general warranty provision in the region of 2 percent of the contract value on delivered new building projects have been applied. It is expected that these costs will be incurred during the guarantee period for the respective deliveries, which normally vary from 12-36 months.Risk related to the estimates that form the basis for the book values are further described in Accounting principles, under sections 2.16 and 4.",
"dimensions": {
"concept": "ifrs-full:DisclosureOfDeferredIncomeExplanatory",
"language": "en",
"entity": "scheme:5967007LIEEXZXIFE872",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"s6_notes__6__141": {
"value": "Note 19 Provisions and other accruals Amounts in NOK 10002023 2022Accrued wages and salaries 10 625 8 632 Accrued holiday pay 8 084 5 957 Provision for warranty 3 310 7 929 Other accrued expenses 13 628 24 399 Total provisions and other accruals 35 647 46 918 Provision for warrantyDEVELOPMENT OF SIGNIFICANT PROVISIONS 2023 2022Balance as of December 31, 2022 7 929 26 577 New provision 1 490 2 644 Provision utilised (2 688) (4 080)Provision reversed (3 421) (17 213)Balance as of December 31, 2023 3 310 7 929 A warranty provision is recognised for expected claims on installations delivered during the year. A total warranty provision of MNOK 3 have been recognised as per 31 December 2023.There is an inherent uncertainty related to the amount of future warranty claims - however based on management\u2019s judgments of possible outcomes, a general warranty provision in the region of 2 percent of the contract value on delivered new building projects have been applied. It is expected that these costs will be incurred during the guarantee period for the respective deliveries, which normally vary from 12-36 months.Risk related to the estimates that form the basis for the book values are further described in Accounting principles, under sections 2.16 and 4.",
"dimensions": {
"concept": "ifrs-full:DisclosureOfAccruedExpensesAndOtherLiabilitiesExplanatory",
"language": "en",
"entity": "scheme:5967007LIEEXZXIFE872",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"s6_notes__6__153": {
"value": "Note 20 Financial risk management Amounts in NOK 1000The following table shows the carrying amount and fair values of financial assets and financial liabilities, including their levels in the fair value hierarchy. It does not include fair value information for financial assets and financial liabilities not measured at fair value if the carrying amount is a reasonable approximation of fair value.Financial assets and liabilities are described in Accounting Principles, under sections 2.8, 2.9, 2.10, 2.12, 2.13 and 2.14.Risks associated with the underlying estimates of the recognised values and financial risk management is described in Accounting Principles, ref section 3. .Financial derivative contracts Financial derivative Loans, not designated for hedging / contracts designated cash and Classification of financial assetsineffective hedgesfor hedgingreceivables Total2023Non current financial assets:Shares available for sale - - - - Other receivables - - - - Financial current assets:Trade receivables - - 85 270 85 270 Other current receivables - - 6 387 6 387 Accrued, non-invoiced production - - 144 007 144 007 1)Derivatives 20 144 - 20 144 Prepayment to suppliers - - 194 162 194 162 Cash and cash equivalents - - 429 826 449 970 Total financial assets 20 144 - 408 898 408 898 2022Non current financial assets:Shares available for sale - - - - Other receivables - - - - Financial current assets:Trade receivables - - 106 875 106 875 Other current receivables - - 7 126 7 126 Accrued, non-invoiced production - - 113 616 113 616 1)Derivatives - - - Prepayment to suppliers - - - - Cash and cash equivalents - - 181 281 181 281 Total financial assets - - 408 898 408 898 1) Fair value of financial liabilities: The Group\u2019s derivatives consist of forward currency contracts. Fair value of forward currency contracts is determined by utilising market-to-market rate on the balance-sheet date as stated by the Group\u2019s bank. Fair value relating to non-current debt is considered approximately equal to carrying value, as loans are given at market terms and with a floating rate.Financial derivative Financial derivative Other contracts not designated for contracts designated financial Classification of financial liabilities:hedging / ineffective hedgesfor hedgingliabilities Total2023Non-current financial liabilitiesInterest-bearing non-current debt - - - - Current financial liabilitiesFirst year instalment of non-current debt - - - - Interest-bearing current liabilities - - - - Prepayments from customers - - 39 002 39 002 1)Derivatives - - - Accounts payable and other short-term liabilities - - 103 542 103 542 Total financial liabilities - - 142 544 142 544 2022Non-current financial liabilitiesInterest-bearing non-current debt - - - - Current financial liabilitiesFirst year instalment of non-current debt - - - - Interest-bearing current liabilities - - - - Prepayments from customers - - 42 418 42 418 1)Derivatives 7 171 27 - 7 198 Accounts payable and other short-term liabilities - - 101 840 101 840 Total financial liabilities 7 171 27 144 259 151 457 1) Fair value of financial liabilities: The Group\u2019s derivatives consist of forward currency contracts. Fair value of forward currency contracts is determined by utilising market-to-market rate on the balance-sheet date as stated by the Group\u2019s bank. Fair value relating to non-current debt is considered approximately equal to carrying value, as loans are given at market terms and with a floating rate.The Group uses the following hierarchy for determining and disclosing the fair value of financial instruments by valuation technique:\u2022 Level 1: Quoted (unadjusted) prices in active markets for identical assets or liabilities\u2022 Level 2: Other techniques for which all inputs which have a significant effect on the recorded fair value are observable, either directly or indirectly\u2022 Level 3: Techniques which use inputs which have a significant effect on the recorded fair value that are not based on observable market data.2023 2022Overall Level 1 Level 2 Level 3 Overall Level 1 Level 2 Level 3Assets measured at fair valueForeign exchange contracts - non-hedging Foreign exchange contracts - hedging - - - - - - - - 20 144 - 20 144- - - - - Liabilities measured at fair valueForeign exchange contracts - hedging - - - - 27 - 27 - Foreign exchange contracts - non-hedging - - - - 7 171 - 7 171 -",
"dimensions": {
"concept": "ifrs-full:DisclosureOfFinancialInstrumentsHeldForTradingExplanatory",
"language": "en",
"entity": "scheme:5967007LIEEXZXIFE872",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"s6_notes__6__148": {
"value": "Note 20 Financial risk management Amounts in NOK 1000The following table shows the carrying amount and fair values of financial assets and financial liabilities, including their levels in the fair value hierarchy. It does not include fair value information for financial assets and financial liabilities not measured at fair value if the carrying amount is a reasonable approximation of fair value.Financial assets and liabilities are described in Accounting Principles, under sections 2.8, 2.9, 2.10, 2.12, 2.13 and 2.14.Risks associated with the underlying estimates of the recognised values and financial risk management is described in Accounting Principles, ref section 3. .Financial derivative contracts Financial derivative Loans, not designated for hedging / contracts designated cash and Classification of financial assetsineffective hedgesfor hedgingreceivables Total2023Non current financial assets:Shares available for sale - - - - Other receivables - - - - Financial current assets:Trade receivables - - 85 270 85 270 Other current receivables - - 6 387 6 387 Accrued, non-invoiced production - - 144 007 144 007 1)Derivatives 20 144 - 20 144 Prepayment to suppliers - - 194 162 194 162 Cash and cash equivalents - - 429 826 449 970 Total financial assets 20 144 - 408 898 408 898 2022Non current financial assets:Shares available for sale - - - - Other receivables - - - - Financial current assets:Trade receivables - - 106 875 106 875 Other current receivables - - 7 126 7 126 Accrued, non-invoiced production - - 113 616 113 616 1)Derivatives - - - Prepayment to suppliers - - - - Cash and cash equivalents - - 181 281 181 281 Total financial assets - - 408 898 408 898 1) Fair value of financial liabilities: The Group\u2019s derivatives consist of forward currency contracts. Fair value of forward currency contracts is determined by utilising market-to-market rate on the balance-sheet date as stated by the Group\u2019s bank. Fair value relating to non-current debt is considered approximately equal to carrying value, as loans are given at market terms and with a floating rate.Financial derivative Financial derivative Other contracts not designated for contracts designated financial Classification of financial liabilities:hedging / ineffective hedgesfor hedgingliabilities Total2023Non-current financial liabilitiesInterest-bearing non-current debt - - - - Current financial liabilitiesFirst year instalment of non-current debt - - - - Interest-bearing current liabilities - - - - Prepayments from customers - - 39 002 39 002 1)Derivatives - - - Accounts payable and other short-term liabilities - - 103 542 103 542 Total financial liabilities - - 142 544 142 544 2022Non-current financial liabilitiesInterest-bearing non-current debt - - - - Current financial liabilitiesFirst year instalment of non-current debt - - - - Interest-bearing current liabilities - - - - Prepayments from customers - - 42 418 42 418 1)Derivatives 7 171 27 - 7 198 Accounts payable and other short-term liabilities - - 101 840 101 840 Total financial liabilities 7 171 27 144 259 151 457 1) Fair value of financial liabilities: The Group\u2019s derivatives consist of forward currency contracts. Fair value of forward currency contracts is determined by utilising market-to-market rate on the balance-sheet date as stated by the Group\u2019s bank. Fair value relating to non-current debt is considered approximately equal to carrying value, as loans are given at market terms and with a floating rate.The Group uses the following hierarchy for determining and disclosing the fair value of financial instruments by valuation technique:\u2022 Level 1: Quoted (unadjusted) prices in active markets for identical assets or liabilities\u2022 Level 2: Other techniques for which all inputs which have a significant effect on the recorded fair value are observable, either directly or indirectly\u2022 Level 3: Techniques which use inputs which have a significant effect on the recorded fair value that are not based on observable market data.2023 2022Overall Level 1 Level 2 Level 3 Overall Level 1 Level 2 Level 3Assets measured at fair valueForeign exchange contracts - non-hedging Foreign exchange contracts - hedging - - - - - - - - 20 144 - 20 144- - - - - Liabilities measured at fair valueForeign exchange contracts - hedging - - - - 27 - 27 - Foreign exchange contracts - non-hedging - - - - 7 171 - 7 171 -",
"dimensions": {
"concept": "ifrs-full:DisclosureOfFairValueOfFinancialInstrumentsExplanatory",
"language": "en",
"entity": "scheme:5967007LIEEXZXIFE872",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"s6_notes__6__147": {
"value": "Note 20 Financial risk management Amounts in NOK 1000The following table shows the carrying amount and fair values of financial assets and financial liabilities, including their levels in the fair value hierarchy. It does not include fair value information for financial assets and financial liabilities not measured at fair value if the carrying amount is a reasonable approximation of fair value.Financial assets and liabilities are described in Accounting Principles, under sections 2.8, 2.9, 2.10, 2.12, 2.13 and 2.14.Risks associated with the underlying estimates of the recognised values and financial risk management is described in Accounting Principles, ref section 3. .Financial derivative contracts Financial derivative Loans, not designated for hedging / contracts designated cash and Classification of financial assetsineffective hedgesfor hedgingreceivables Total2023Non current financial assets:Shares available for sale - - - - Other receivables - - - - Financial current assets:Trade receivables - - 85 270 85 270 Other current receivables - - 6 387 6 387 Accrued, non-invoiced production - - 144 007 144 007 1)Derivatives 20 144 - 20 144 Prepayment to suppliers - - 194 162 194 162 Cash and cash equivalents - - 429 826 449 970 Total financial assets 20 144 - 408 898 408 898 2022Non current financial assets:Shares available for sale - - - - Other receivables - - - - Financial current assets:Trade receivables - - 106 875 106 875 Other current receivables - - 7 126 7 126 Accrued, non-invoiced production - - 113 616 113 616 1)Derivatives - - - Prepayment to suppliers - - - - Cash and cash equivalents - - 181 281 181 281 Total financial assets - - 408 898 408 898 1) Fair value of financial liabilities: The Group\u2019s derivatives consist of forward currency contracts. Fair value of forward currency contracts is determined by utilising market-to-market rate on the balance-sheet date as stated by the Group\u2019s bank. Fair value relating to non-current debt is considered approximately equal to carrying value, as loans are given at market terms and with a floating rate.Financial derivative Financial derivative Other contracts not designated for contracts designated financial Classification of financial liabilities:hedging / ineffective hedgesfor hedgingliabilities Total2023Non-current financial liabilitiesInterest-bearing non-current debt - - - - Current financial liabilitiesFirst year instalment of non-current debt - - - - Interest-bearing current liabilities - - - - Prepayments from customers - - 39 002 39 002 1)Derivatives - - - Accounts payable and other short-term liabilities - - 103 542 103 542 Total financial liabilities - - 142 544 142 544 2022Non-current financial liabilitiesInterest-bearing non-current debt - - - - Current financial liabilitiesFirst year instalment of non-current debt - - - - Interest-bearing current liabilities - - - - Prepayments from customers - - 42 418 42 418 1)Derivatives 7 171 27 - 7 198 Accounts payable and other short-term liabilities - - 101 840 101 840 Total financial liabilities 7 171 27 144 259 151 457 1) Fair value of financial liabilities: The Group\u2019s derivatives consist of forward currency contracts. Fair value of forward currency contracts is determined by utilising market-to-market rate on the balance-sheet date as stated by the Group\u2019s bank. Fair value relating to non-current debt is considered approximately equal to carrying value, as loans are given at market terms and with a floating rate.The Group uses the following hierarchy for determining and disclosing the fair value of financial instruments by valuation technique:\u2022 Level 1: Quoted (unadjusted) prices in active markets for identical assets or liabilities\u2022 Level 2: Other techniques for which all inputs which have a significant effect on the recorded fair value are observable, either directly or indirectly\u2022 Level 3: Techniques which use inputs which have a significant effect on the recorded fair value that are not based on observable market data.2023 2022Overall Level 1 Level 2 Level 3 Overall Level 1 Level 2 Level 3Assets measured at fair valueForeign exchange contracts - non-hedging Foreign exchange contracts - hedging - - - - - - - - 20 144 - 20 144- - - - - Liabilities measured at fair valueForeign exchange contracts - hedging - - - - 27 - 27 - Foreign exchange contracts - non-hedging - - - - 7 171 - 7 171 -",
"dimensions": {
"concept": "ifrs-full:DisclosureOfFairValueMeasurementExplanatory",
"language": "en",
"entity": "scheme:5967007LIEEXZXIFE872",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"s6_notes__6__149-1": {
"value": "Financial derivative contracts Financial derivative Loans, not designated for hedging / contracts designated cash and Classification of financial assetsineffective hedgesfor hedgingreceivables Total2023Non current financial assets:Shares available for sale - - - - Other receivables - - - - Financial current assets:Trade receivables - - 85 270 85 270 Other current receivables - - 6 387 6 387 Accrued, non-invoiced production - - 144 007 144 007 1)Derivatives 20 144 - 20 144 Prepayment to suppliers - - 194 162 194 162 Cash and cash equivalents - - 429 826 449 970 Total financial assets 20 144 - 408 898 408 898 2022Non current financial assets:Shares available for sale - - - - Other receivables - - - - Financial current assets:Trade receivables - - 106 875 106 875 Other current receivables - - 7 126 7 126 Accrued, non-invoiced production - - 113 616 113 616 1)Derivatives - - - Prepayment to suppliers - - - - Cash and cash equivalents - - 181 281 181 281 Total financial assets - - 408 898 408 898 1) Fair value of financial liabilities: The Group\u2019s derivatives consist of forward currency contracts. Fair value of forward currency contracts is determined by utilising market-to-market rate on the balance-sheet date as stated by the Group\u2019s bank. Fair value relating to non-current debt is considered approximately equal to carrying value, as loans are given at market terms and with a floating rate.2023 2022Overall Level 1 Level 2 Level 3 Overall Level 1 Level 2 Level 3Assets measured at fair valueForeign exchange contracts - non-hedging Foreign exchange contracts - hedging - - - - - - - - 20 144 - 20 144- - - - - ",
"dimensions": {
"concept": "ifrs-full:DisclosureOfFinancialAssetsHeldForTradingExplanatory",
"language": "en",
"entity": "scheme:5967007LIEEXZXIFE872",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"s6_notes__6__151-1": {
"value": "Financial derivative Financial derivative Other contracts not designated for contracts designated financial Classification of financial liabilities:hedging / ineffective hedgesfor hedgingliabilities Total2023Non-current financial liabilitiesInterest-bearing non-current debt - - - - Current financial liabilitiesFirst year instalment of non-current debt - - - - Interest-bearing current liabilities - - - - Prepayments from customers - - 39 002 39 002 1)Derivatives - - - Accounts payable and other short-term liabilities - - 103 542 103 542 Total financial liabilities - - 142 544 142 544 2022Non-current financial liabilitiesInterest-bearing non-current debt - - - - Current financial liabilitiesFirst year instalment of non-current debt - - - - Interest-bearing current liabilities - - - - Prepayments from customers - - 42 418 42 418 1)Derivatives 7 171 27 - 7 198 Accounts payable and other short-term liabilities - - 101 840 101 840 Total financial liabilities 7 171 27 144 259 151 457 1) Fair value of financial liabilities: The Group\u2019s derivatives consist of forward currency contracts. Fair value of forward currency contracts is determined by utilising market-to-market rate on the balance-sheet date as stated by the Group\u2019s bank. Fair value relating to non-current debt is considered approximately equal to carrying value, as loans are given at market terms and with a floating rate.Liabilities measured at fair valueForeign exchange contracts - hedging - - - - 27 - 27 - Foreign exchange contracts - non-hedging - - - - 7 171 - 7 171 -",
"dimensions": {
"concept": "ifrs-full:DisclosureOfFinancialLiabilitiesHeldForTradingExplanatory",
"language": "en",
"entity": "scheme:5967007LIEEXZXIFE872",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"s6_notes__6__157": {
"value": "Note 21 Business combination Amounts in NOK 1000Acquisition and divestments in 2023In March, Nekkar strengthened its presence within renewables and aquaculture through the acquisition of 90.1 percent of the total shares of Techano Oceanlift based in Kristiansand, Norway. The acquisition was financed in cash and the purchase consideration consisted of a cash payment of MNOK 2.7. Techano Oceanlift\u2019s specialist competence includes the development and manufacturing of advanced load handling and lifting equipment, including cranes, winches, fish crowding systems, fish transfer systems, and offshore wind load handling cranes. The Techano Oceanlift team proved during the second quarter that it will be a valuable addition to Nekkar. First, the company was awarded a EUR 4 million contract to deliver an offshore crane to a newbuild cable-lay support vessel (CLSV) that Sefine Shipyard is building for Norwegian shipowner Agalas. Under the contract, Techano Oceanlift will deliver a 70-tonnes offshore crane capable of performing both subsea installation and removal operations plus topside 3D compensated lifting operations in conjunction with wind farm developments and operations. Secondly, Techano Oceanlift demonstrated its ability to deliver when the company in June successfully completed delivery and commissioning of the new and upgraded live fish transfer system provided to SalMar Aker Ocean\u2019s fish farm, Offshore Farm 1. In December 2023, Techano Oceanlift was awarded an additional newbuild contract for a 170t crane to Sefine Shipyard for a contract value of EUR 6.5 million.Opening balance Techano Oceanlift AS - 28.03.2023Goodwill 406 759 Other current assets 2 910 Cash 3 018 445 Total assets 3 428 114 Account payables 44 465 Public duties 50 698 Other current liabilities 332 948 Total liabilities 428 111There was no result during the period from 1 January 2023 until the acquisition",
"dimensions": {
"concept": "ifrs-full:DisclosureOfBusinessCombinationsExplanatory",
"language": "en",
"entity": "scheme:5967007LIEEXZXIFE872",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"s6_notes__6__158": {
"value": "Note 22 Non controlling interest (NCI) Amounts in NOK 1000The following table summarises the information relating to Nekkar ASA\u2019s subsidiaries that has material non controlling interest, before intra group eliminations. Non-current assets includes goodwill and technology assets arising from the PPA, totalt amount of MNOK 18.7.2023Techano Number presented on 100% basisOceanlift AS Intellilift AS TotalNon current assets 7 554 38 431 45 985 Current assets, excluding cash 22 152 14 937 37 089 Cash and cash equivalents -6 550 939 -5 611 Non current liabilities - -381 -381 Current liabilities -17 969 -8 972 -26 942 Net assets 5 186 44 954 50 140 Revenue 30 336 33 854 64 190 Profit after tax 2 020 3 807 5 828 Other comprehensive income (OCI) - - - Total comprehensive income 2 020 3 807 5 828 NCI percentage 10% 49% 49%Net assets attributable to NCI 513 22 028 22 541 Profit after tax allocated to NCI 200 1 866 2 066 OCI allocated to NCI - - - 2022Number presented on 100% basis Intellilift AS TotalNon current assets 37 871 37 871 Current assets, excluding cash 8 422 8 422 Cash and cash equivalents 6 593 6 593 Non current liabilities -951 -951 Current liabilities -10 933 -10 933 Net assets 41 001 41 001 Revenue 22 634 22 634 Profit after tax 1 663 1 663 Other comprehensive income (OCI) - - Total comprehensive income 1 663 1 663 NCI percentage 49% 49%Net assets attributable to NCI 20 090 20 090 Profit after tax allocated to NCI 815 815 OCI allocated to NCI - -",
"dimensions": {
"concept": "ifrs-full:DisclosureOfNoncontrollingInterestsExplanatory",
"language": "en",
"entity": "scheme:5967007LIEEXZXIFE872",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"s6_notes__6__162": {
"value": "Note 23 Contingent liabilities / Material disputesRegular claimsRegular claims are made against the Group as a result of its ordinary operations. These claims are part of ordinary business and are generally covered by provisions for guarantee costs and contingencies in ongoing projects. Nekkar is of the opinion that recognised provisions will cover regular claims arising as part of ordinary business.Syncrolift project claimSyncrolift has finalised and delivered a shiplift and transfer system to a shipyard in South America in June 2022. The final 10 percent milestone invoice (MNOK 13.5) has not been paid by the customer, as the customer claim a project delay. Syncrolift has made a provisin of 50 percent (MNOK 6.68) of outstanding amount in relation to this claim. Synrolift still expect part of part of the payment to be recieved as no contractual right to hold back the payment has been found.",
"dimensions": {
"concept": "ifrs-full:DisclosureOfClaimsAndBenefitsPaidExplanatory",
"language": "en",
"entity": "scheme:5967007LIEEXZXIFE872",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"s6_notes__6__161": {
"value": "Note 23 Contingent liabilities / Material disputesRegular claimsRegular claims are made against the Group as a result of its ordinary operations. These claims are part of ordinary business and are generally covered by provisions for guarantee costs and contingencies in ongoing projects. Nekkar is of the opinion that recognised provisions will cover regular claims arising as part of ordinary business.Syncrolift project claimSyncrolift has finalised and delivered a shiplift and transfer system to a shipyard in South America in June 2022. The final 10 percent milestone invoice (MNOK 13.5) has not been paid by the customer, as the customer claim a project delay. Syncrolift has made a provisin of 50 percent (MNOK 6.68) of outstanding amount in relation to this claim. Synrolift still expect part of part of the payment to be recieved as no contractual right to hold back the payment has been found.",
"dimensions": {
"concept": "ifrs-full:DisclosureOfContingentLiabilitiesExplanatory",
"language": "en",
"entity": "scheme:5967007LIEEXZXIFE872",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"s6_notes__6__160": {
"value": "Note 23 Contingent liabilities / Material disputesRegular claimsRegular claims are made against the Group as a result of its ordinary operations. These claims are part of ordinary business and are generally covered by provisions for guarantee costs and contingencies in ongoing projects. Nekkar is of the opinion that recognised provisions will cover regular claims arising as part of ordinary business.Syncrolift project claimSyncrolift has finalised and delivered a shiplift and transfer system to a shipyard in South America in June 2022. The final 10 percent milestone invoice (MNOK 13.5) has not been paid by the customer, as the customer claim a project delay. Syncrolift has made a provisin of 50 percent (MNOK 6.68) of outstanding amount in relation to this claim. Synrolift still expect part of part of the payment to be recieved as no contractual right to hold back the payment has been found.",
"dimensions": {
"concept": "ifrs-full:DisclosureOfCommitmentsExplanatory",
"language": "en",
"entity": "scheme:5967007LIEEXZXIFE872",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"s6_notes__6__159": {
"value": "Note 23 Contingent liabilities / Material disputesRegular claimsRegular claims are made against the Group as a result of its ordinary operations. These claims are part of ordinary business and are generally covered by provisions for guarantee costs and contingencies in ongoing projects. Nekkar is of the opinion that recognised provisions will cover regular claims arising as part of ordinary business.Syncrolift project claimSyncrolift has finalised and delivered a shiplift and transfer system to a shipyard in South America in June 2022. The final 10 percent milestone invoice (MNOK 13.5) has not been paid by the customer, as the customer claim a project delay. Syncrolift has made a provisin of 50 percent (MNOK 6.68) of outstanding amount in relation to this claim. Synrolift still expect part of part of the payment to be recieved as no contractual right to hold back the payment has been found.",
"dimensions": {
"concept": "ifrs-full:DisclosureOfCommitmentsAndContingentLiabilitiesExplanatory",
"language": "en",
"entity": "scheme:5967007LIEEXZXIFE872",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"s6_notes__6__163": {
"value": "Note 24 Subsequent events Events regarding Nekkar are as follows:On 22 January 2024, Syncrolift AS was awared a contract for basic engineering design of a 5,000 tonnes shiplift and transfer system at its shipyard in Talcahuano, Chile. Syncrolift\u2019s engineering design scope for the shiplift and transfer system is valued at USD 5 million. The letter of award includes an option for a phase two equipment delivery of a Syncrolift shiplift and ship transfer system. This contract is valued at approximately USD 24 million and is subjectto final investment decision by ASMAR.On 4 March 2024, Syncrolifts AS was awarded a contract to deliver a package of ship transfer systems to specialised maritime zone Dubai Maritime City (DMC) in the United Arab Emirates. The contract value is USD 8 million. ",
"dimensions": {
"concept": "ifrs-full:DisclosureOfEventsAfterReportingPeriodExplanatory",
"language": "en",
"entity": "scheme:5967007LIEEXZXIFE872",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
}
}
}