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"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:AdditionalPaidinCapitalMember", "unit": "iso4217:NOK" } }, "fact-256": { "value": "65592000", "decimals": -3, "dimensions": { "concept": "ifrs-full:Equity", "entity": "scheme:5967007LIEEXZXISIG31", "period": "2024-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:ReserveOfExchangeDifferencesOnTranslationMember", "unit": "iso4217:NOK" } }, "fact-257": { "value": "15776000", "decimals": -3, "dimensions": { "concept": "ifrs-full:Equity", "entity": "scheme:5967007LIEEXZXISIG31", "period": "2024-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:ReserveOfSharebasedPaymentsMember", "unit": "iso4217:NOK" } }, "fact-258": { "value": "16521000", "decimals": -3, "dimensions": { "concept": "ifrs-full:Equity", "entity": "scheme:5967007LIEEXZXISIG31", "period": "2024-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:OtherEquityInterestMember", "unit": "iso4217:NOK" } }, "fact-259": { "value": "476763000", "decimals": -3, "dimensions": { "concept": "ifrs-full:Equity", "entity": "scheme:5967007LIEEXZXISIG31", "period": "2024-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:EquityAttributableToOwnersOfParentMember", "unit": "iso4217:NOK" } }, "fact-260": { "value": "-1911000", "decimals": -3, "dimensions": { "concept": "ifrs-full:Equity", "entity": "scheme:5967007LIEEXZXISIG31", "period": "2024-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:NoncontrollingInterestsMember", "unit": "iso4217:NOK" } }, "fact-261": { "value": "474852000", "decimals": -3, "dimensions": { "concept": "ifrs-full:Equity", "entity": "scheme:5967007LIEEXZXISIG31", "period": "2024-01-01T00:00:00", "unit": "iso4217:NOK" } }, "fact-268": { "value": "Note 1: General information StrongPoint ASA is based in Norway with registered office at Brynsengveien 10 in the municipality of Oslo. The company is listed at the Oslo Stock Exchange with the ticker STRO. The group\u2019s main business is the development, sale and implementation of innovative, integrated technology solutions to retailers especially within the grocery segment but also other segments like Do-It-Yourself or pharmacies. The group has two reporting segments \u201dScandinavia\u201d and \u201dInternational incl. R&D\u201d. The proposed annual financial statements are prepared with the assumption of a going concern and were adopted by the board and CEO on the date shown on the signed balance sheet. The annual financial statements will be approved by the ordinary general meeting 25 April 2024.", "dimensions": { "concept": "ifrs-full:DisclosureOfGeneralInformationAboutFinancialStatementsExplanatory", "language": "en", "entity": "scheme:5967007LIEEXZXISIG31", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00" } }, "fact-1": { "value": "StrongPoint ASA", "dimensions": { "concept": "ifrs-full:NameOfReportingEntityOrOtherMeansOfIdentification", "language": "en", "entity": "scheme:5967007LIEEXZXISIG31", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00" } }, "fact-263": { "value": "StrongPoint ASA", "dimensions": { "concept": "ifrs-full:NameOfParentEntity", "language": "en", "entity": "scheme:5967007LIEEXZXISIG31", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00" } }, "fact-264": { "value": "StrongPoint ASA", "dimensions": { "concept": "ifrs-full:NameOfUltimateParentOfGroup", "language": "en", "entity": "scheme:5967007LIEEXZXISIG31", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00" } }, "fact-266": { "value": "ASA", "dimensions": { "concept": "ifrs-full:LegalFormOfEntity", "language": "en", "entity": "scheme:5967007LIEEXZXISIG31", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00" } }, "fact-2": { "value": "Norway", "dimensions": { "concept": "ifrs-full:DomicileOfEntity", "language": "en", "entity": "scheme:5967007LIEEXZXISIG31", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00" } }, "fact-262": { "value": "Norway", "dimensions": { "concept": "ifrs-full:CountryOfIncorporation", "language": "en", "entity": "scheme:5967007LIEEXZXISIG31", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00" } }, "fact-265": { "value": "Norway", "dimensions": { "concept": "ifrs-full:PrincipalPlaceOfBusiness", "language": "en", "entity": "scheme:5967007LIEEXZXISIG31", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00" } }, "fact-3": { "value": "Brynsengveien 10 in the municipality of Oslo", "dimensions": { "concept": "ifrs-full:AddressOfRegisteredOfficeOfEntity", "language": "en", "entity": "scheme:5967007LIEEXZXISIG31", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00" } }, "fact-4": { "value": "The group\u2019s main business is the development, sale and implementation of innovative, integrated technology solutions to retailers especially within the grocery segment but also other segments like Do-It-Yourself or pharmacies.", "dimensions": { "concept": "ifrs-full:DescriptionOfNatureOfEntitysOperationsAndPrincipalActivities", "language": "en", "entity": "scheme:5967007LIEEXZXISIG31", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00" } }, "fact-316": { "value": "
The proposed annual financial statements are prepared with the assumption of a going concern
", "dimensions": { "concept": "ifrs-full:DisclosureOfGoingConcernExplanatory", "language": "en", "entity": "scheme:5967007LIEEXZXISIG31", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00" } }, "fact-315": { "value": "The annual financial statements will be approved by the ordinary general meeting 25 April 2024.", "dimensions": { "concept": "ifrs-full:DisclosureOfAuthorisationOfFinancialStatementsExplanatory", "language": "en", "entity": "scheme:5967007LIEEXZXISIG31", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00" } }, "fact-267": { "value": "Note 2: Accounting principles Basic principles The consolidated financial statements are prepared in accordance with IFRS Accounting Standards as adopted by the EU and associated interpretations and with additional Norwegian disclosure requirements pursuant to the Accounting Act, Stock Exchange Regulations and stock exchange rules applicable to financial statements completed by 31.12.2023. The consolidated financial statements have been produced based on historical costs. The consolidated financial statements are presented in thousand Norwegian kroner unless otherwise stated. Estimates and judgements In preparing the consolidated financial statements, management makes various accounting estimates and assumptions that form the basis of the presentation, recognition and measurement of StrongPoint\u2019s assets and liabilities. Determining the carrying amounts of some assets and liabilities requires estimates and assumptions concerning future events. Estimates and assumptions are based on historical experience and other factors, which management assesses to be reasonable, but which by their nature involve uncertainty and unpredictability. These assumptions may have to be revised as unexpected events or circumstances may occur. The areas that involve a high degree of estimation uncertainty and usage of management\u2019s judgement are described in more detail in note 25. Consolidation principles Shares held for sale in associated companies, are valued at fair value and unrealised increase or decrease in value which earlier have been recognized directly as income and costs in the statement of other comprehensive income, will be reversed. Share of profit after tax in associated companies are recognized included in financial items in the P&L. Translation of foreign currency The accounts of individual entities within the group are measured in the local currency in each country (functional currencies). The functional currencies mainly consist of NOK, SEK, EUR and GBP. The consolidated financial statements have been prepared in NOK, which is both the functional currency and the reporting currency of the parent company and the Norwegian subsidiary. The balance sheet is converted with the closing rate at the balance sheet date, while the income statement is converted with the average monthly exchange rate. The net effect of the translation is recognized as translation differences in other comprehensive income. Loans from an entity within the group to subsidiaries where repayment has not been planned or is not likely in the foreseeable future, are considered as part of the net investment in subsidiaries, while foreign exchange gains or losses linked to such loans are recognized as translation differences in the statement of other comprehensive income. Tangible assets The acquisition cost of fixed assets are depreciated linearly according to the expected useful life of the assets, which is: \u2022 Fixtures and equipment 3-5 years \u2022 Machinery 3-10 years \u2022 Plant and property (production and warehouse facilities) 20 years \u2022 Land values are not depreciated Leasing Contracts with a lifetime of more than one year and a value of KNOK 100 are booked as IFRS 16 Leases as both right-of-use assets and liabilities. Operational leases with lower value or shorter lifetime are booked as operational leases in the P&L. For lease contracts with a lease term less than 12 months or a value of the underlying asset of less than KNOK 100, the group applies the recognition exemptions and do not recognize these in the balance sheet. Intangible assets Intangible assets are recognized at their cost price, less any accumulated write-downs and amortisation, and are considered periodically for impairment in case of any impairment indicators. Any impairment losses are recognized as operating costs. Intangible assets with definite lives are amortized over economic life and tested for impairment when there are indications on this. Goodwill and other intangible assets from acquisitions Identifiable intangible assets from acquisitions are booked at fair value at the time of acquisition. This includes items such as technology, brand and customer relationships. Brand value/trademarks are not depreciated, but they are tested annually for impairment along with goodwill. The other items are depreciated throughout their estimated useful life. Development costs Product development costs and research into new products and maintenance of existing products are expensed as incurred except capitalization of intangible assets related to the new cash management solution developed for a customer in Iberia. The development is performed through a new legal company in Spain called StrongPoint Cash Tech S.L., which are consolidated from Q2 2023. The expenses include in-house payroll costs and outsourced services. The expenses are reduced with any government grants received related to this development. Government grants (Skattefunn) are recognised where there is reasonable assurance that the grant will be received and all attached conditions will be complied with. Inventories Provisions for obsolescence are, where possible, made on an individual basis. If it is not possible to carry out an individual assessment, provisions for obsolescence are made based on the current inventory turnover rate. Accounts receivables For account receivables, the Group applies a simplified approach in calculating Expected Credit Losses (ECL)s. Therefore, the Group does not track changes in credit risk, but instead recognizes a loss allowance based on lifetime ECLs at each reporting date. The carrying amount of the asset is reduced using an allowance account and the amount of the loss is recognized in the income statement. Provisions are made when there is objective evidence that the Group will not be able to collect the debts. Bad debts are written off when identified. It should, in minimum, be made provisions for: 50% of the amounts ex VAT that has been due for 3 months or more, 80% of the amounts ex VAT that has been due for 6 months or more, 100% of the amounts ex VAT that has been due for 12 months or more. Changes in provision are booked as other operating expenses. Cash and cash equivalents Cash includes cash in hand and cash deposits in banks. Cash equivalents are held for the purpose of meeting short term commitments rather than for investment or other purposes. Pension commitments, bonus schemes and other staff compensation schemes (a) Pension commitments The employees in StrongPoint have pension schemes in line with local statutory and obligatory company pension schemes, and are in general recognized as a defined contribution plan. (b) Bonus schemes The group recognizes a provision and a cost for bonus schemes. The group recognizes a provision where there are contractual obligations or a precedent that generates a self-imposed obligation. (c) Share program The Group has a share program for the executive management where the CEO has the opportunity to buy shares for up to NOK 1,000,000 per year with 20% discount with a 3 years lock-in period and the other members have the opportunity to buy shares for up to NOK 500,000 per year with 20% discount with a 3 years lock-in period. In addition, all permanent employees in a StrongPoint legal entity, are offered to buy shares for up to NOK 35,000 per year with a 20% discount. The employees can chose to participate in the share program where shares will be allocated 4 times per year and the discount is deducted in the monthly salary deduction, or the employee can buy the shares themselves and get 20% of the amount refunded on their next salary. The discount is recognized as a personnel cost. Revenue recognition Long term service and license agreements are recognized linearly over the contracted period. The Group\u2019s sales of products and services are considered to be separate performance obligations according to IFRS 15. The assessment is supported by independence between product sales and sales of services and that both types of sales are based on market prices without cross-subsidisation. The performance obligation related to the sale of products is fulfilled upon installation by the customer (at a point in time) and the performance obligation related to service agreements is fulfilled on a linear basis over the contract period (over time). Tax Current tax liabilities and assets are measured at the amount that is expected to be paid to or recovered from the tax authorities. The tax rates and tax rules used to calculate the amounts are those that have been adopted or substantively adopted by the end of the reporting period in the countries in which the group operates and generates taxable income. Deferred tax liabilities and assets are computed for all temporary differences between the carrying amount of an asset or liability in the consolidated financial statements and their respective tax bases and tax losses carried forward. For the calculation of deferred tax assets and liabilities, the nominal tax rates expected to be applied when the asset is realised or the liability is paid will be used. Equity and cost of equity Share option program The equity-settled share-based option program is as part of the total remuneration plan for the Group management team. The option program is designed to align and incentivize management performance with shareholder value creation and to attract and retain high calibre executive management and key personnel. The share options will be allocated to the Participants based on company- and individual goal achievement, and at the Board\u2019s discretion. The Board will take into consideration the company\u2019s goals and strategies as well as targeted performance for executive management, when granting options. The option plan is a performance-based remuneration scheme reflecting the underlying long term value creation of the company. The limits for the allocation of share options to the Participants is determined by the board, within the board mandates approved by the general meeting. The option scheme will be granted with a strike price equal to the market price at grant. The options will vest over three years, with \u00bc vesting after one year, \u00bc after two years, and the remaining 2/4 after three years. Any non-exercised options expire five years after grant. If an employee leaves the company before the end of the vesting period, the employee will not vest more options. The fair value of share options granted is estimated at the date of grant using the Black- Scholes-Merton Option Pricing Model. The model uses the following parameters; the exercise price, the life of the option, the current price of the underlying shares, the expected volatility of the share price, the dividends expected on the shares, and the risk-free interest rate for the life of the option. The measure of volatility used in the option pricing models is the annulised standard deviation of the continuously compounded rates of return on the share over a period of time. The sosial fees related to the share options are recognized as a short term debt when the options have a higher value than the stock price for the shares. Provisions If the effect is significant the provision is calculated by expected future cash flows and, if relevant, any risks specifically linked to the obligation. Provisions for warranties are recognized when the underlying products and services are sold. The provisions are based on historic warranty cost weigh- ted with probability. Financial instruments For Financial instruments we have the the following material accounting policies: Financial assets Initial recognition and measurement Financial assets are classified, at initial recognition, as subsequently measured at amortised cost and fair value through profit or loss. The classification of financial assets at initial recognition depends on the financial asset\u2019s contractual cash flow characteristics and the Group\u2019s business model for managing them. With the exception of trade receivables that do not contain a significant financing component or for which the Group has applied the practical expedient, the Group initially measures a financial asset at its fair value plus, in the case of a financial asset not at fair value through profit or loss, transaction costs. Subsequent measurement For purposes of subsequent measurement, financial assets are classified in two categories: \u2022 Financial assets at amortised cost (debt instruments) \u2022 Financial assets at fair value through profit or loss Financial assets at amortised cost (debt instruments) Financial assets at amortised cost are subsequently measured using the effective interest (EIR) method and are subject to impairment. Gains and losses are recognised in profit or loss when the asset is derecognised, modified or impaired. Financial assets at fair value through profit or loss Financial assets at fair value through profit or loss are carried in the statement of financial position at fair value with net changes in fair value recognised in the statement of profit or loss. Financial liabilities Financial liabilities are classified, at initial recognition, as financial liabilities at fair value through profit or loss, loans and borrowings and payables. All financial liabilities are recognised initially at fair value and, in the case of loans and borrowings and payables, net of directly attributable transaction costs. The Group\u2019s financial liabilities include trade and other payables, loans and borrowings including bank overdrafts, and derivative financial instruments. Subsequent measurement For purposes of subsequent measurement, financial assets are classified in two categories: \u2022 Financial liabilities at fair value through profit or loss \u2022 Financial liabilities at amortised cost (loans and borrowings) Financial liabilities at fair value through profit or loss Financial assets at fair value are carried in the balance sheet at fair value with net changes in fair value recognised in the statement of profit or loss. Financial liabilities at amortised cost (loans and borrowings) This is the category most relevant to the Group. After initial recognition, interest-bearing loans and borrowings are subsequently measured at amortised cost using the effective interest rate method. Gains and losses are recognised in profit or loss when the liabilities are derecognised as well as through the effective interest rate amortisation process.
Borrowing costs
Borrowing costs are recorded when the borrowing costs occurs. Borrowing costs are capitalized when
directly related to the purchase or manufacture of a qualifying asset.
Government grants
Government grants are recognized if there are reasonable assurance that the company will meet the
criteria of the grant and the grant will be awarded. The recognition of operating grants shall be
recognized systematically during the grant period. In Norway we can apply for Skattefunn, where we
can get a 19% refund of R&D expenses related to spesific projects.
Cash flow statement
The cash flow statement is presented using the indirect method.
New standards and interpretations
No new principles with effects on recognition and measurement. IAS 1 amendments have had effect
on the description of the groups accounting policies.
", "dimensions": { "concept": "ifrs-full:DisclosureOfMaterialAccountingPolicyInformationExplanatory", "language": "en", "entity": "scheme:5967007LIEEXZXISIG31", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00" } }, "fact-269": { "value": "
Basic principles
The consolidated financial statements are prepared in accordance with IFRS Accounting Standards
as adopted by the EU and associated interpretations and with additional Norwegian disclosure
requirements pursuant to the Accounting Act, Stock Exchange Regulations and stock exchange rules
applicable to financial statements completed by 31.12.2023. The consolidated financial statements
have been produced based on historical costs.
The consolidated financial statements are presented in thousand Norwegian kroner unless
otherwise stated.
", "dimensions": { "concept": "ifrs-full:DisclosureOfBasisOfPreparationOfFinancialStatementsExplanatory", "language": "en", "entity": "scheme:5967007LIEEXZXISIG31", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00" } }, "fact-314": { "value": "The consolidated financial statements are prepared in accordance with IFRS Accounting Standards as adopted by the EU and associated interpretations and with additional Norwegian disclosure requirements pursuant to the Accounting Act, Stock Exchange Regulations and stock exchange rules applicable to financial statements completed by 31.12.2023. The consolidated financial statements have been produced based on historical costs. ", "dimensions": { "concept": "ifrs-full:StatementOfIFRSCompliance", "language": "en", "entity": "scheme:5967007LIEEXZXISIG31", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00" } }, "fact-313": { "value": "The consolidated financial statements are presented in thousand Norwegian kroner unless otherwise stated. ", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForFunctionalCurrencyExplanatory", "language": "en", "entity": "scheme:5967007LIEEXZXISIG31", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00" } }, "fact-270": { "value": "
Consolidation principles
Shares held for sale in associated companies, are valued at fair value and unrealised increase or
decrease in value which earlier have been recognized directly as income and costs in the statement
of other comprehensive income, will be reversed. Share of profit after tax in associated companies are
recognized included in financial items in the P&L.
", "dimensions": { "concept": "ifrs-full:DisclosureOfBasisOfConsolidationExplanatory", "language": "en", "entity": "scheme:5967007LIEEXZXISIG31", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00" } }, "fact-271": { "value": "
Translation of foreign currency
The accounts of individual entities within the group are measured in the local currency in each country
(functional currencies). The functional currencies mainly consist of NOK, SEK, EUR and GBP. The
consolidated financial statements have been prepared in NOK, which is both the functional currency
and the reporting currency of the parent company and the Norwegian subsidiary.
The balance sheet is converted with the closing rate at the balance sheet date, while the income
statement is converted with the average monthly exchange rate. The net effect of the translation is
recognized as translation differences in other comprehensive income.
Loans from an entity within the group to subsidiaries where repayment has not been planned or is
not likely in the foreseeable future, are considered as part of the net investment in subsidiaries, while
foreign exchange gains or losses linked to such loans are recognized as translation differences in the
statement of other comprehensive income.
", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForForeignCurrencyTranslationExplanatory", "language": "en", "entity": "scheme:5967007LIEEXZXISIG31", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00" } }, "fact-272": { "value": "
Tangible assets
The acquisition cost of fixed assets are depreciated linearly according to the expected useful life of
the assets, which is:
\u2022 Fixtures and equipment 3-5 years
\u2022 Machinery 3-10 years
\u2022 Plant and property (production and warehouse facilities) 20 years
\u2022 Land values are not depreciated
", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForPropertyPlantAndEquipmentExplanatory", "language": "en", "entity": "scheme:5967007LIEEXZXISIG31", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00" } }, "fact-273": { "value": "
Leasing
Contracts with a lifetime of more than one year and a value of KNOK 100 are booked as IFRS 16
Leases as both right-of-use assets and liabilities. Operational leases with lower value or shorter
lifetime are booked as operational leases in the P&L. For lease contracts with a lease term less than
12 months or a value of the underlying asset of less than KNOK 100, the group applies the
recognition exemptions and do not recognize these in the balance sheet.
", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForLeasesExplanatory", "language": "en", "entity": "scheme:5967007LIEEXZXISIG31", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00" } }, "fact-274": { "value": "
Intangible assets
Intangible assets are recognized at their cost price, less any accumulated write-downs and
amortisation, and are considered periodically for impairment in case of any impairment indicators.
Any impairment losses are recognized as operating costs.
Intangible assets with definite lives are amortized over economic life and tested for impairment
when there are indications on this.
Goodwill and other intangible assets from acquisitions
Identifiable intangible assets from acquisitions are booked at fair value at the time of acquisition.
This includes items such as technology, brand and customer relationships. Brand value/trademarks
are not depreciated, but they are tested annually for impairment along with goodwill. The other items
are depreciated throughout their estimated useful life.
Development costs Product development costs and research into new products and maintenance of existing products are expensed as incurred except capitalization of intangible assets related to the new cash management solution developed for a customer in Iberia. The development is performed through a new legal company in Spain called StrongPoint Cash Tech S.L., which are consolidated from Q2 2023. The expenses include in-house payroll costs and outsourced services. The expenses are reduced with any government grants received related to this development. Government grants (Skattefunn) are recognised where there is reasonable assurance that the grant will be received and all attached conditions will be complied with. ", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForIntangibleAssetsAndGoodwillExplanatory", "language": "en", "entity": "scheme:5967007LIEEXZXISIG31", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00" } }, "fact-361": { "value": "Intangible assets Intangible assets are recognized at their cost price, less any accumulated write-downs and amortisation, and are considered periodically for impairment in case of any impairment indicators. Any impairment losses are recognized as operating costs. Intangible assets with definite lives are amortized over economic life and tested for impairment when there are indications on this. Goodwill and other intangible assets from acquisitions Identifiable intangible assets from acquisitions are booked at fair value at the time of acquisition. This includes items such as technology, brand and customer relationships. Brand value/trademarks are not depreciated, but they are tested annually for impairment along with goodwill. The other items are depreciated throughout their estimated useful life. Development costs Product development costs and research into new products and maintenance of existing products are expensed as incurred except capitalization of intangible assets related to the new cash management solution developed for a customer in Iberia. The development is performed through a new legal company in Spain called StrongPoint Cash Tech S.L., which are consolidated from Q2 2023. The expenses include in-house payroll costs and outsourced services. The expenses are reduced with any government grants received related to this development. Government grants (Skattefunn) are recognised where there is reasonable assurance that the grant will be received and all attached conditions will be complied with. ", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForImpairmentOfNonfinancialAssetsExplanatory", "language": "en", "entity": "scheme:5967007LIEEXZXISIG31", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00" } }, "fact-358": { "value": "Intangible assets Intangible assets are recognized at their cost price, less any accumulated write-downs and amortisation, and are considered periodically for impairment in case of any impairment indicators. Any impairment losses are recognized as operating costs. Intangible assets with definite lives are amortized over economic life and tested for impairment when there are indications on this. Goodwill and other intangible assets from acquisitions Identifiable intangible assets from acquisitions are booked at fair value at the time of acquisition. This includes items such as technology, brand and customer relationships. Brand value/trademarks are not depreciated, but they are tested annually for impairment along with goodwill. The other items are depreciated throughout their estimated useful life. Development costs Product development costs and research into new products and maintenance of existing products are expensed as incurred except capitalization of intangible assets related to the new cash management solution developed for a customer in Iberia. The development is performed through a new legal company in Spain called StrongPoint Cash Tech S.L., which are consolidated from Q2 2023. The expenses include in-house payroll costs and outsourced services. The expenses are reduced with any government grants received related to this development. Government grants (Skattefunn) are recognised where there is reasonable assurance that the grant will be received and all attached conditions will be complied with. ", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForImpairmentOfAssetsExplanatory", "language": "en", "entity": "scheme:5967007LIEEXZXISIG31", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00" } }, "fact-338": { "value": "Intangible assets Intangible assets are recognized at their cost price, less any accumulated write-downs and amortisation, and are considered periodically for impairment in case of any impairment indicators. Any impairment losses are recognized as operating costs. Intangible assets with definite lives are amortized over economic life and tested for impairment when there are indications on this. Goodwill and other intangible assets from acquisitions Identifiable intangible assets from acquisitions are booked at fair value at the time of acquisition. This includes items such as technology, brand and customer relationships. Brand value/trademarks are not depreciated, but they are tested annually for impairment along with goodwill. The other items are depreciated throughout their estimated useful life.
Development costs
Product development costs and research into new products and maintenance of existing products are
expensed as incurred except capitalization of intangible assets related to the new cash
management solution developed for a customer in Iberia. The development is performed through
a new legal company in Spain called StrongPoint Cash Tech S.L., which are consolidated from Q2
2023. The expenses include in-house payroll costs and outsourced services. The expenses are
reduced with any government grants received related to this development. Government grants
(Skattefunn) are recognised where there is reasonable assurance that the grant will be received and
all attached conditions will be complied with.
", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForIntangibleAssetsOtherThanGoodwillExplanatory", "language": "en", "entity": "scheme:5967007LIEEXZXISIG31", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00" } }, "fact-317": { "value": "Intangible assets Intangible assets are recognized at their cost price, less any accumulated write-downs and amortisation, and are considered periodically for impairment in case of any impairment indicators. Any impairment losses are recognized as operating costs. Intangible assets with definite lives are amortized over economic life and tested for impairment when there are indications on this. Goodwill and other intangible assets from acquisitions Identifiable intangible assets from acquisitions are booked at fair value at the time of acquisition. This includes items such as technology, brand and customer relationships. Brand value/trademarks are not depreciated, but they are tested annually for impairment along with goodwill. The other items are depreciated throughout their estimated useful life. ", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForGoodwillExplanatory", "language": "en", "entity": "scheme:5967007LIEEXZXISIG31", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00" } }, "fact-352": { "value": "Goodwill and other intangible assets from acquisitions Identifiable intangible assets from acquisitions are booked at fair value at the time of acquisition. This includes items such as technology, brand and customer relationships. Brand value/trademarks are not depreciated, but they are tested annually for impairment along with goodwill. The other items are depreciated throughout their estimated useful life. ", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForBusinessCombinationsAndGoodwillExplanatory", "language": "en", "entity": "scheme:5967007LIEEXZXISIG31", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00" } }, "fact-364": { "value": "Development costs Product development costs and research into new products and maintenance of existing products are expensed as incurred except capitalization of intangible assets related to the new cash management solution developed for a customer in Iberia. The development is performed through a new legal company in Spain called StrongPoint Cash Tech S.L., which are consolidated from Q2 2023. The expenses include in-house payroll costs and outsourced services. The expenses are reduced with any government grants received related to this development. Government grants (Skattefunn) are recognised where there is reasonable assurance that the grant will be received and all attached conditions will be complied with. ", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForResearchAndDevelopmentExpenseExplanatory", "language": "en", "entity": "scheme:5967007LIEEXZXISIG31", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00" } }, "fact-275": { "value": "
Inventories
Provisions for obsolescence are, where possible, made on an individual basis. If it is not possible
to carry out an individual assessment, provisions for obsolescence are made based on the current
inventory turnover rate.
", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForMeasuringInventories", "language": "en", "entity": "scheme:5967007LIEEXZXISIG31", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00" } }, "fact-276": { "value": "
Accounts receivables
For account receivables, the Group applies a simplified approach in calculating Expected Credit
Losses (ECL)s. Therefore, the Group does not track changes in credit risk, but instead recognizes a
loss allowance based on lifetime ECLs at each reporting date. The carrying amount of the asset is
reduced using an allowance account and the amount of the loss is recognized in the income
statement.
Provisions are made when there is objective evidence that the Group will not be able to collect the
debts. Bad debts are written off when identified. It should, in minimum, be made provisions for: 50%
of the amounts ex VAT that has been due for 3 months or more, 80% of the amounts ex VAT that has
been due for 6 months or more, 100% of the amounts ex VAT that has been due for 12 months or
more. Changes in provision are booked as other operating expenses.
", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForTradeAndOtherReceivablesExplanatory", "language": "en", "entity": "scheme:5967007LIEEXZXISIG31", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00" } }, "fact-277": { "value": "
Cash and cash equivalents
Cash includes cash in hand and cash deposits in banks.
Cash equivalents are held for the purpose of meeting short term commitments rather than for
investment or other purposes.
", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyToDetermineComponentsOfCashAndCashEquivalents", "language": "en", "entity": "scheme:5967007LIEEXZXISIG31", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00" } }, "fact-280": { "value": "
Pension commitments, bonus schemes and other staff compensation schemes
(a) Pension commitments
The employees in StrongPoint have pension schemes in line with local statutory and obligatory
company pension schemes, and are in general recognized as a defined contribution plan.
(b) Bonus schemes The group recognizes a provision and a cost for bonus schemes. The group recognizes a provision where there are contractual obligations or a precedent that generates a self-imposed obligation. (c) Share program The Group has a share program for the executive management where the CEO has the opportunity to buy shares for up to NOK 1,000,000 per year with 20% discount with a 3 years lock-in period and the other members have the opportunity to buy shares for up to NOK 500,000 per year with 20% discount with a 3 years lock-in period. In addition, all permanent employees in a StrongPoint legal entity, are offered to buy shares for up to NOK 35,000 per year with a 20% discount. The employees can chose to participate in the share program where shares will be allocated 4 times per year and the discount is deducted in the monthly salary deduction, or the employee can buy the shares themselves and get 20% of the amount refunded on their next salary. The discount is recognized as a personnel cost. ", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForEmployeeBenefitsExplanatory", "language": "en", "entity": "scheme:5967007LIEEXZXISIG31", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00" } }, "fact-318": { "value": "
(c) Share program
The Group has a share program for the executive management where the CEO has the opportunity to
buy shares for up to NOK 1,000,000 per year with 20% discount with a 3 years lock-in period and the
other members have the opportunity to buy shares for up to NOK 500,000 per year with 20% discount
with a 3 years lock-in period. In addition, all permanent employees in a StrongPoint legal entity, are
offered to buy shares for up to NOK 35,000 per year with a 20% discount. The employees can chose
to participate in the share program where shares will be allocated 4 times per year and the discount
is deducted in the monthly salary deduction, or the employee can buy the shares themselves and get
20% of the amount refunded on their next salary. The discount is recognized as a personnel cost.
", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForSharebasedPaymentTransactionsExplanatory", "language": "en", "entity": "scheme:5967007LIEEXZXISIG31", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00" } }, "fact-278": { "value": "
Revenue recognition
Long term service and license agreements are recognized linearly over the contracted period.
The Group\u2019s sales of products and services are considered to be separate performance obligations
according to IFRS 15. The assessment is supported by independence between product sales and
sales of services and that both types of sales are based on market prices without cross-subsidisation.
The performance obligation related to the sale of products is fulfilled upon installation by the customer
(at a point in time) and the performance obligation related to service agreements is fulfilled on a linear
basis over the contract period (over time).
", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForRecognitionOfRevenue", "language": "en", "entity": "scheme:5967007LIEEXZXISIG31", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00" } }, "fact-319": { "value": "
Tax
Current tax liabilities and assets are measured at the amount that is expected to be paid to or
recovered from the tax authorities. The tax rates and tax rules used to calculate the amounts are
those that have been adopted or substantively adopted by the end of the reporting period in the
countries in which the group operates and generates taxable income.
Deferred tax liabilities and assets are computed for all temporary differences between the carrying
amount of an asset or liability in the consolidated financial statements and their respective tax bases
and tax losses carried forward. For the calculation of deferred tax assets and liabilities, the nominal
tax rates expected to be applied when the asset is realised or the liability is paid will be used.
", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForDeferredIncomeTaxExplanatory", "language": "en", "entity": "scheme:5967007LIEEXZXISIG31", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00" } }, "fact-279": { "value": "Tax Current tax liabilities and assets are measured at the amount that is expected to be paid to or recovered from the tax authorities. The tax rates and tax rules used to calculate the amounts are those that have been adopted or substantively adopted by the end of the reporting period in the countries in which the group operates and generates taxable income. Deferred tax liabilities and assets are computed for all temporary differences between the carrying amount of an asset or liability in the consolidated financial statements and their respective tax bases and tax losses carried forward. For the calculation of deferred tax assets and liabilities, the nominal tax rates expected to be applied when the asset is realised or the liability is paid will be used. ", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForIncomeTaxExplanatory", "language": "en", "entity": "scheme:5967007LIEEXZXISIG31", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00" } }, "fact-281": { "value": "
Equity and cost of equity
Share option program
The equity-settled share-based option program is as part of the total remuneration plan for the Group
management team. The option program is designed to align and incentivize management
performance with shareholder value creation and to attract and retain high calibre executive
management and key personnel.
The share options will be allocated to the Participants based on company- and individual goal
achievement, and at the Board\u2019s discretion. The Board will take into consideration the company\u2019s
goals and strategies as well as targeted performance for executive management, when granting
options. The option plan is a performance-based remuneration scheme reflecting the underlying long
term value creation of the company. The limits for the allocation of share options to the Participants is
determined by the board, within the board mandates approved by the general meeting.
The option scheme will be granted with a strike price equal to the market price at grant. The options
will vest over three years, with \u00bc vesting after one year, \u00bc after two years, and the remaining 2/4 after
three years. Any non-exercised options expire five years after grant. If an employee leaves the
company before the end of the vesting period, the employee will not vest more options.
The fair value of share options granted is estimated at the date of grant using the Black-
Scholes-Merton Option Pricing Model. The model uses the following parameters; the exercise price,
the life of the option, the current price of the underlying shares, the expected volatility of the share
price, the dividends expected on the shares, and the risk-free interest rate for the life of the option.
The measure of volatility used in the option pricing models is the annulised standard deviation of the
continuously compounded rates of return on the share over a period of time. The sosial fees related to
the share options are recognized as a short term debt when the options have a higher value than the
stock price for the shares.
", "dimensions": { "concept": "strongpoint:DescriptionOfAccountingPolicyForEquityAndCostOfEquity", "language": "en", "entity": "scheme:5967007LIEEXZXISIG31", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00" } }, "fact-282": { "value": "
Provisions
If the effect is significant the provision is calculated by expected future cash flows and, if relevant, any
risks specifically linked to the obligation. Provisions for warranties are recognized when the
underlying products and services are sold. The provisions are based on historic warranty cost weigh-
ted with probability.
", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForProvisionsExplanatory", "language": "en", "entity": "scheme:5967007LIEEXZXISIG31", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00" } }, "fact-283": { "value": "
Financial instruments
For Financial instruments we have the the following material accounting policies:
Financial assets
Initial recognition and measurement
Financial assets are classified, at initial recognition, as subsequently measured at amortised cost and
fair value through profit or loss.
The classification of financial assets at initial recognition depends on the financial asset\u2019s
contractual cash flow characteristics and the Group\u2019s business model for managing them. With the exception of trade receivables that do not contain a significant financing component or for which the Group has applied the practical expedient, the Group initially measures a financial asset at its fair value plus, in the case of a financial asset not at fair value through profit or loss, transaction costs. Subsequent measurement For purposes of subsequent measurement, financial assets are classified in two categories: \u2022 Financial assets at amortised cost (debt instruments) \u2022 Financial assets at fair value through profit or loss Financial assets at amortised cost (debt instruments) Financial assets at amortised cost are subsequently measured using the effective interest (EIR) method and are subject to impairment. Gains and losses are recognised in profit or loss when the asset is derecognised, modified or impaired. Financial assets at fair value through profit or loss Financial assets at fair value through profit or loss are carried in the statement of financial position at fair value with net changes in fair value recognised in the statement of profit or loss. Financial liabilities Financial liabilities are classified, at initial recognition, as financial liabilities at fair value through profit or loss, loans and borrowings and payables. All financial liabilities are recognised initially at fair value and, in the case of loans and borrowings and payables, net of directly attributable transaction costs. The Group\u2019s financial liabilities include trade and other payables, loans and borrowings including bank overdrafts, and derivative financial instruments. Subsequent measurement For purposes of subsequent measurement, financial assets are classified in two categories: \u2022 Financial liabilities at fair value through profit or loss \u2022 Financial liabilities at amortised cost (loans and borrowings) Financial liabilities at fair value through profit or loss Financial assets at fair value are carried in the balance sheet at fair value with net changes in fair value recognised in the statement of profit or loss. Financial liabilities at amortised cost (loans and borrowings) This is the category most relevant to the Group. After initial recognition, interest-bearing loans and borrowings are subsequently measured at amortised cost using the effective interest rate method. Gains and losses are recognised in profit or loss when the liabilities are derecognised as well as through the effective interest rate amortisation process. ", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForFinancialInstrumentsExplanatory", "language": "en", "entity": "scheme:5967007LIEEXZXISIG31", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00" } }, "fact-321": { "value": "Financial assets Initial recognition and measurement Financial assets are classified, at initial recognition, as subsequently measured at amortised cost and fair value through profit or loss. The classification of financial assets at initial recognition depends on the financial asset\u2019s contractual cash flow characteristics and the Group\u2019s business model for managing them. With the exception of trade receivables that do not contain a significant financing component or for which the Group has applied the practical expedient, the Group initially measures a financial asset at its fair value plus, in the case of a financial asset not at fair value through profit or loss, transaction costs. Subsequent measurement For purposes of subsequent measurement, financial assets are classified in two categories: \u2022 Financial assets at amortised cost (debt instruments) \u2022 Financial assets at fair value through profit or loss Financial assets at amortised cost (debt instruments) Financial assets at amortised cost are subsequently measured using the effective interest (EIR) method and are subject to impairment. Gains and losses are recognised in profit or loss when the asset is derecognised, modified or impaired. Financial assets at fair value through profit or loss Financial assets at fair value through profit or loss are carried in the statement of financial position at fair value with net changes in fair value recognised in the statement of profit or loss. ", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForFinancialAssetsExplanatory", "language": "en", "entity": "scheme:5967007LIEEXZXISIG31", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00" } }, "fact-339": { "value": "
Financial assets at fair value through profit or loss
Financial assets at fair value through profit or loss are carried in the statement of financial position at
fair value with net changes in fair value recognised in the statement of profit or loss.
Financial liabilities at fair value through profit or loss Financial assets at fair value are carried in the balance sheet at fair value with net changes in fair value recognised in the statement of profit or loss. ", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForFinancialInstrumentsAtFairValueThroughProfitOrLossExplanatory", "language": "en", "entity": "scheme:5967007LIEEXZXISIG31", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00" } }, "fact-320": { "value": "
Financial liabilities
Financial liabilities are classified, at initial recognition, as financial liabilities at fair value through profit
or loss, loans and borrowings and payables. All financial liabilities are recognised initially at fair value
and, in the case of loans and borrowings and payables, net of directly attributable transaction costs.
The Group\u2019s financial liabilities include trade and other payables, loans and borrowings including bank
overdrafts, and derivative financial instruments.
Subsequent measurement
For purposes of subsequent measurement, financial assets are classified in two categories:
\u2022 Financial liabilities at fair value through profit or loss
\u2022 Financial liabilities at amortised cost (loans and borrowings)
Financial liabilities at fair value through profit or loss
Financial assets at fair value are carried in the balance sheet at fair value with net changes in fair
value recognised in the statement of profit or loss.
Financial liabilities at amortised cost (loans and borrowings)
This is the category most relevant to the Group. After initial recognition, interest-bearing loans and
borrowings are subsequently measured at amortised cost using the effective interest rate method.
Gains and losses are recognised in profit or loss when the liabilities are derecognised as well as
through the effective interest rate amortisation process.
", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForFinancialLiabilitiesExplanatory", "language": "en", "entity": "scheme:5967007LIEEXZXISIG31", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00" } }, "fact-284": { "value": "Borrowing costs Borrowing costs are recorded when the borrowing costs occurs. Borrowing costs are capitalized when directly related to the purchase or manufacture of a qualifying asset. ", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForBorrowingCostsExplanatory", "language": "en", "entity": "scheme:5967007LIEEXZXISIG31", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00" } }, "fact-285": { "value": "Government grants Government grants are recognized if there are reasonable assurance that the company will meet the criteria of the grant and the grant will be awarded. The recognition of operating grants shall be recognized systematically during the grant period. In Norway we can apply for Skattefunn, where we can get a 19% refund of R&D expenses related to spesific projects. ", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForGovernmentGrants", "language": "en", "entity": "scheme:5967007LIEEXZXISIG31", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00" } }, "fact-286": { "value": "Cash flow statement The cash flow statement is presented using the indirect method. ", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForCashFlowsExplanatory", "language": "en", "entity": "scheme:5967007LIEEXZXISIG31", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00" } }, "fact-322": { "value": "New standards and interpretations No new principles with effects on recognition and measurement. IAS 1 amendments have had effect on the description of the groups accounting policies.", "dimensions": { "concept": "ifrs-full:DisclosureOfChangesInAccountingPoliciesAccountingEstimatesAndErrorsExplanatory", "language": "en", "entity": "scheme:5967007LIEEXZXISIG31", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00" } }, "fact-287": { "value": "New standards and interpretations No new principles with effects on recognition and measurement. IAS 1 amendments have had effect on the description of the groups accounting policies.", "dimensions": { "concept": "ifrs-full:DisclosureOfChangesInAccountingPoliciesExplanatory", "language": "en", "entity": "scheme:5967007LIEEXZXISIG31", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00" } }, "fact-288": { "value": "
Note 3: Segment information
The segment information is based on reported revenues, EBITDA, EBT and assets for the legal
entities included in the segment, with eliminations of internal items within the segment. Intra-group
items are included in the column Eliminations. Eliminations consists of internal sales with associated
costs, intercompany balances, goodwill, intangible assets and other group postings. Internal sales are
based on market prices.
Management fee invoiced from StrongPoint ASA to subsidiaries are not included in the segment
statements.
Segments
The Group has two segments: Scandinavia and International incl. R&D. The financial statements
include revenue information for both geographic and product information in the current reporting.
The business segment Scandinavia currently consist of the operating business units in Norway and
Sweden. The revenue also includes some deliveries to Denmark and Iceland. The business segment
International incl. R&D consists of the operating business units in the Baltics, Finland, Spain and UK/
Ireland, in addition to partner sales in the rest of Europe and rest of world.The ongoing R&D activities
for own products have been allocated to this segment.
The Group delivers proprietary solutions within In-store Productivity, E-commerce, Payment
Solutions and Checkout Efficiency, as well as tailor-made retail solutions from leading third-party
suppliers, including Pricer Electronic Shelf Labels (ESL), POS, ERP and Digi scales and wrapping
systems. The group management has in the fiscal year 2023 governed the business based on
reported sales revenues, EBITDA and EBIT for the two business areas Scandinavia and International
incl. R&D.
Revenue per product segment
KNOK
2023
2022
- Products
219,693
338,955
- Services
100,056
87,218
In-store Productivity
319,749
426,173
- Products
148,186
164,642
- Services
111,285
119,953
Payment Solutions
259,472
284,595
- Products
117,564
115,900
- Services
44,408
39,405
Check Out Efficiency
161,972
155,306
- Products
86,940
53,417
- Services
39,666
41,045
E-commerce logistics
126,606
94,461
- Products
-
-
- Services
283,466
241,311
Shop Fittting
283,466
241,311
- Products
89,664
85,902
- Services
101,468
84,644
Other retail technology
191,132
170,545
- Products
662,047
758,815
- Services
680,350
613,577
Total sales revenue
1,342,398
1,372,392
Segment and geographical information About StrongPoint
Scandinavia
International incl. R&D
ASA/Elim
Consolidated
KNOK
2023
2022
2023
2022
2023
2022
2023
2022
- Products
230,437
269,709
230,437
269,709
- Services
109,845
116,385
109,845
116,385
Norway
340,282
386,093
-
-
-
-
340,282
386,093
- Products
157,379
225,058
157,379
225,058
- Services
138,364
132,916
138,364
132,916
Sweden
295,743
357,974
-
-
-
-
295,743
357,974
- Products
131,101
104,590
131,101
104,590
- Services
124,441
100,019
124,441
100,019
Baltic
-
-
255,542
204,610
-
-
255,542
204,610
- Products
67,586
60,196
67,586
60,196
- Services
19,985
16,556
19,985
16,556
Spain
-
-
87,570
76,752
-
-
87,570
76,752
- Products
-
-
- Services
283,564
241,311
283,564
241,311
UK & Ireland
-
-
283,564
241,311
-
-
283,564
241,311
- Products
75,544
99,305
75,544
99,305
- Services
4,152
6,390
4,152
6,390
Rest of Europe
-
-
79,696
105,695
-
-
79,696
105,695
- Products
387,816
494,767
274,231
264,048
-
-
662,048
758,815
- Services
248,209
249,301
432,142
364,276
-
-
680,350
613,577
Total sales revenue
636,025
744,068
706,373
628,325
-
-
1,342,398
1,372,392
EBITDA
41,485
67,224
-10,403
53,868
-32,371
-45,553
-1,288
75,540
EBT
35,119
59,524
-51,475
21,141
-28,975
-42,499
-45,331
38,165
Assets
406,984
387,016
440,480
398,513
167,026
200,111
1,014,490
985,640
Liabilities
201,103
178,741
401,269
315,804
-62,734
-16,111
539,638
478,433
Working capital
185,989
231,260
149,687
154,117
-24,153
-26,744
311,524
358,632
Investment in fixed assets
5,110
840
12,508
10,278
26
27
17,643
11,144
Our WHY statement Key figures 2021-2023 CEO statement Company strategy People & organization 2023 Highlights Future of grocery retail AT A GLANCE Product segments Markets ESG Retail technology with responsibility About the ESG report About StrongPoint StrongPoint\u2019s approach to sustainability Reporting on material topics GOVERNANCE Board of Directors\u2019 report Corporate Governance Statement on equality and non-discrimination EBITDA is operating profit before depreciation, amortization interest and tax. EBT is profit before tax. FINANCIAL STATEMENTS Assets includes KNOK 195,578 in non-current assets in Norway. Working capital is inventory plus accounts receivables minus accounts payables. Consolidated Financial Statements with notes There are no customers that represent 10% or more of revenues in the individual business areas in 2023 and 2022. Financial Statements StrongPoint ASA with notes Revenue per customer is based on sales per legal entities. ", "dimensions": { "concept": "ifrs-full:DisclosureOfEntitysReportableSegmentsExplanatory", "language": "en", "entity": "scheme:5967007LIEEXZXISIG31", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00" } }, "fact-340": { "value": "Note 3: Segment information The segment information is based on reported revenues, EBITDA, EBT and assets for the legal entities included in the segment, with eliminations of internal items within the segment. Intra-group items are included in the column Eliminations. Eliminations consists of internal sales with associated costs, intercompany balances, goodwill, intangible assets and other group postings. Internal sales are based on market prices. Management fee invoiced from StrongPoint ASA to subsidiaries are not included in the segment statements. Segments The Group has two segments: Scandinavia and International incl. R&D. The financial statements include revenue information for both geographic and product information in the current reporting. The business segment Scandinavia currently consist of the operating business units in Norway and Sweden. The revenue also includes some deliveries to Denmark and Iceland. The business segment International incl. R&D consists of the operating business units in the Baltics, Finland, Spain and UK/ Ireland, in addition to partner sales in the rest of Europe and rest of world.The ongoing R&D activities for own products have been allocated to this segment. The Group delivers proprietary solutions within In-store Productivity, E-commerce, Payment Solutions and Checkout Efficiency, as well as tailor-made retail solutions from leading third-party suppliers, including Pricer Electronic Shelf Labels (ESL), POS, ERP and Digi scales and wrapping systems. The group management has in the fiscal year 2023 governed the business based on reported sales revenues, EBITDA and EBIT for the two business areas Scandinavia and International incl. R&D. Revenue per product segment
KNOK
2023
2022
- Products
219,693
338,955
- Services
100,056
87,218
In-store Productivity
319,749
426,173
- Products
148,186
164,642
- Services
111,285
119,953
Payment Solutions
259,472
284,595
- Products
117,564
115,900
- Services
44,408
39,405
Check Out Efficiency
161,972
155,306
- Products
86,940
53,417
- Services
39,666
41,045
E-commerce logistics
126,606
94,461
- Products
-
-
- Services
283,466
241,311
Shop Fittting
283,466
241,311
- Products
89,664
85,902
- Services
101,468
84,644
Other retail technology
191,132
170,545
- Products
662,047
758,815
- Services
680,350
613,577
Total sales revenue
1,342,398
1,372,392
Segment and geographical information
About StrongPoint
Scandinavia
International incl. R&D
ASA/Elim
Consolidated
KNOK
2023
2022
2023
2022
2023
2022
2023
2022
- Products
230,437
269,709
230,437
269,709
- Services
109,845
116,385
109,845
116,385
Norway
340,282
386,093
-
-
-
-
340,282
386,093
- Products
157,379
225,058
157,379
225,058
- Services
138,364
132,916
138,364
132,916
Sweden
295,743
357,974
-
-
-
-
295,743
357,974
- Products
131,101
104,590
131,101
104,590
- Services
124,441
100,019
124,441
100,019
Baltic
-
-
255,542
204,610
-
-
255,542
204,610
- Products
67,586
60,196
67,586
60,196
- Services
19,985
16,556
19,985
16,556
Spain
-
-
87,570
76,752
-
-
87,570
76,752
- Products
-
-
- Services
283,564
241,311
283,564
241,311
UK & Ireland
-
-
283,564
241,311
-
-
283,564
241,311
- Products
75,544
99,305
75,544
99,305
- Services
4,152
6,390
4,152
6,390
Rest of Europe
-
-
79,696
105,695
-
-
79,696
105,695
- Products
387,816
494,767
274,231
264,048
-
-
662,048
758,815
- Services
248,209
249,301
432,142
364,276
-
-
680,350
613,577
Total sales revenue
636,025
744,068
706,373
628,325
-
-
1,342,398
1,372,392
EBITDA
41,485
67,224
-10,403
53,868
-32,371
-45,553
-1,288
75,540
EBT
35,119
59,524
-51,475
21,141
-28,975
-42,499
-45,331
38,165
Assets
406,984
387,016
440,480
398,513
167,026
200,111
1,014,490
985,640
Liabilities
201,103
178,741
401,269
315,804
-62,734
-16,111
539,638
478,433
Working capital
185,989
231,260
149,687
154,117
-24,153
-26,744
311,524
358,632
Investment in fixed assets
5,110
840
12,508
10,278
26
27
17,643
11,144
Our WHY statement
Key figures 2021-2023
CEO statement
Company strategy
People & organization
2023 Highlights
Future of grocery retail
AT A GLANCE
Product segments
Markets
ESG
Retail technology with responsibility
About the ESG report
About StrongPoint
StrongPoint\u2019s approach to sustainability
Reporting on material topics
GOVERNANCE
Board of Directors\u2019 report
Corporate Governance
Statement on equality and non-discrimination
EBITDA is operating profit before depreciation, amortization interest and tax.
EBT is profit before tax.
FINANCIAL STATEMENTS
Assets includes KNOK 195,578 in non-current assets in Norway.
Working capital is inventory plus accounts receivables minus accounts payables.
Consolidated Financial Statements with notes
There are no customers that represent 10% or more of revenues in the individual business areas in 2023 and 2022.
Financial Statements StrongPoint ASA with notes
Revenue per customer is based on sales per legal entities.
", "dimensions": { "concept": "ifrs-full:DisclosureOfRevenueExplanatory", "language": "en", "entity": "scheme:5967007LIEEXZXISIG31", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00" } }, "fact-323": { "value": "Segment and geographical information About StrongPoint
Scandinavia
International incl. R&D
ASA/Elim
Consolidated
KNOK
2023
2022
2023
2022
2023
2022
2023
2022
- Products
230,437
269,709
230,437
269,709
- Services
109,845
116,385
109,845
116,385
Norway
340,282
386,093
-
-
-
-
340,282
386,093
- Products
157,379
225,058
157,379
225,058
- Services
138,364
132,916
138,364
132,916
Sweden
295,743
357,974
-
-
-
-
295,743
357,974
- Products
131,101
104,590
131,101
104,590
- Services
124,441
100,019
124,441
100,019
Baltic
-
-
255,542
204,610
-
-
255,542
204,610
- Products
67,586
60,196
67,586
60,196
- Services
19,985
16,556
19,985
16,556
Spain
-
-
87,570
76,752
-
-
87,570
76,752
- Products
-
-
- Services
283,564
241,311
283,564
241,311
UK & Ireland
-
-
283,564
241,311
-
-
283,564
241,311
- Products
75,544
99,305
75,544
99,305
- Services
4,152
6,390
4,152
6,390
Rest of Europe
-
-
79,696
105,695
-
-
79,696
105,695
- Products
387,816
494,767
274,231
264,048
-
-
662,048
758,815
- Services
248,209
249,301
432,142
364,276
-
-
680,350
613,577
Total sales revenue
636,025
744,068
706,373
628,325
-
-
1,342,398
1,372,392
EBITDA
41,485
67,224
-10,403
53,868
-32,371
-45,553
-1,288
75,540
EBT
35,119
59,524
-51,475
21,141
-28,975
-42,499
-45,331
38,165
Assets
406,984
387,016
440,480
398,513
167,026
200,111
1,014,490
985,640
Liabilities
201,103
178,741
401,269
315,804
-62,734
-16,111
539,638
478,433
Working capital
185,989
231,260
149,687
154,117
-24,153
-26,744
311,524
358,632
Investment in fixed assets
5,110
840
12,508
10,278
26
27
17,643
11,144
Our WHY statement Key figures 2021-2023 CEO statement Company strategy People & organization 2023 Highlights Future of grocery retail AT A GLANCE Product segments Markets ESG Retail technology with responsibility About the ESG report About StrongPoint StrongPoint\u2019s approach to sustainability Reporting on material topics GOVERNANCE Board of Directors\u2019 report Corporate Governance Statement on equality and non-discrimination EBITDA is operating profit before depreciation, amortization interest and tax. EBT is profit before tax. FINANCIAL STATEMENTS Assets includes KNOK 195,578 in non-current assets in Norway. Working capital is inventory plus accounts receivables minus accounts payables. Consolidated Financial Statements with notes There are no customers that represent 10% or more of revenues in the individual business areas in 2023 and 2022. Financial Statements StrongPoint ASA with notes Revenue per customer is based on sales per legal entities. ", "dimensions": { "concept": "ifrs-full:DisclosureOfGeographicalAreasExplanatory", "language": "en", "entity": "scheme:5967007LIEEXZXISIG31", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00" } }, "fact-289": { "value": "Note 4: Changes in the group structure 2023: Acquisition of Hamari On 31 October 2023, StrongPoint ASA acquired 100% of the shares in Brand ID Hamari Group Oy (Hamari). Hamari is a retail technology solutions company based in Finland and was established in 2006. Hamari provides services and installation to retailers and grocery retailers, predominantly electronic shelf labels from Pricer AB. The purchase price was EUR 427,558, of which EUR 159,997 settled with consideration shares and EUR 267,561 settled by cash. There is a possible extra earn-out of up to EUR 150,000 based on conditions related to financial performance for the fiscal years 2023 and 2024. The earn-out is considered probable and the full amount is included in the cost price. The consideration shares were funded by treasury shares and are subject to a two-year lock-up period from closing. The acquired company contributed with the following revenue and profit before tax for the period between the acquisition and 31.12.2023:
KNOK
Revenue
2,556
Profit before tax
-187
If the acquisitions had been completed per 01.01.2023, the acquired company would have contributed with the following revenue and profit before tax:
KNOK
Revenue
11,025
Profit before tax
-1,267
There are identified additional value related to customers of KNOK 3,601. The additional value for customers will be amortized over five years. Included in the value of goodwill is employees with special skills and expected synergies with StrongPoint\u2019s existing business. These intangible assets do not meet the recognition criteria in IAS 38 and are therefore not recorded separately. Goodwill is not amortized. However, it is subject to impairment tests annually. The acquisition costs regarding Hamari amounted to KNOK 1,340 and are booked as Opex. Final allocation of fair values related to acquisition in 2023 distributed as follows:
Hamari
Assets
Deferred tax assets
141
Fixed assets
78
Cash and cash equivalents
909
Receivables
2,471
Inventories
1,408
5,007
Liabilities
Accounts payable
-2,153
Interest-bearing liabilities
-7
Other short term debt
-1,853
-4,012
Net identifiable assets at fair value
995
Customers relations
3,601
Goodwill
3,064
Deferred tax assets
-720
Purchase amount
6,939
Cash
3,266
Shares in StrongPoint
1,892
Earnout
1,781
Purchase amount
6,939
Paid in cash
3,266
Cash received
-909
Net cash out
2,357
", "dimensions": { "concept": "ifrs-full:DisclosureOfDiscontinuedOperationsExplanatory", "language": "en", "entity": "scheme:5967007LIEEXZXISIG31", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00" } }, "fact-324": { "value": "Note 4: Changes in the group structure 2023: Acquisition of Hamari On 31 October 2023, StrongPoint ASA acquired 100% of the shares in Brand ID Hamari Group Oy (Hamari). Hamari is a retail technology solutions company based in Finland and was established in 2006. Hamari provides services and installation to retailers and grocery retailers, predominantly electronic shelf labels from Pricer AB. The purchase price was EUR 427,558, of which EUR 159,997 settled with consideration shares and EUR 267,561 settled by cash. There is a possible extra earn-out of up to EUR 150,000 based on conditions related to financial performance for the fiscal years 2023 and 2024. The earn-out is considered probable and the full amount is included in the cost price. The consideration shares were funded by treasury shares and are subject to a two-year lock-up period from closing. The acquired company contributed with the following revenue and profit before tax for the period between the acquisition and 31.12.2023:
KNOK
Revenue
2,556
Profit before tax
-187
If the acquisitions had been completed per 01.01.2023, the acquired company would have contributed with the following revenue and profit before tax:
KNOK
Revenue
11,025
Profit before tax
-1,267
There are identified additional value related to customers of KNOK 3,601. The additional value for customers will be amortized over five years. Included in the value of goodwill is employees with special skills and expected synergies with StrongPoint\u2019s existing business. These intangible assets do not meet the recognition criteria in IAS 38 and are therefore not recorded separately. Goodwill is not amortized. However, it is subject to impairment tests annually. The acquisition costs regarding Hamari amounted to KNOK 1,340 and are booked as Opex. Final allocation of fair values related to acquisition in 2023 distributed as follows:
Hamari
Assets
Deferred tax assets
141
Fixed assets
78
Cash and cash equivalents
909
Receivables
2,471
Inventories
1,408
5,007
Liabilities
Accounts payable
-2,153
Interest-bearing liabilities
-7
Other short term debt
-1,853
-4,012
Net identifiable assets at fair value
995
Customers relations
3,601
Goodwill
3,064
Deferred tax assets
-720
Purchase amount
6,939
Cash
3,266
Shares in StrongPoint
1,892
Earnout
1,781
Purchase amount
6,939
Paid in cash
3,266
Cash received
-909
Net cash out
2,357
", "dimensions": { "concept": "ifrs-full:DisclosureOfBusinessCombinationsExplanatory", "language": "en", "entity": "scheme:5967007LIEEXZXISIG31", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00" } }, "fact-290": { "value": "Note 5: Other operating expenses
KNOK
2023
2022
Rent, electricity, cleaning
16,962
13,242
Vehicles
14,317
11,473
Other consultancy fees
38,450
47,414
IT
44,927
25,018
Travel
11,632
8,632
Marketing
9,984
10,044
Other costs
28,972
19,152
Total
165,244
134,976
Specification of recognized auditors fee:
2023
2022
Fee for auditing services
3,924
2,365
Fee for tax advise
-
14
Fee for other services
145
292
Total
4,069
2,671
1 1) Of which TNOK 863 applies to auditors other than EY. Auditors fee are exclusive of VAT, with the exception of transaction expenses. ", "dimensions": { "concept": "ifrs-full:DisclosureOfOtherOperatingExpenseExplanatory", "language": "en", "entity": "scheme:5967007LIEEXZXISIG31", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00" } }, "fact-341": { "value": "Note 5: Other operating expenses
KNOK
2023
2022
Rent, electricity, cleaning
16,962
13,242
Vehicles
14,317
11,473
Other consultancy fees
38,450
47,414
IT
44,927
25,018
Travel
11,632
8,632
Marketing
9,984
10,044
Other costs
28,972
19,152
Total
165,244
134,976
Specification of recognized auditors fee:
2023
2022
Fee for auditing services
3,924
2,365
Fee for tax advise
-
14
Fee for other services
145
292
Total
4,069
2,671
1 1) Of which TNOK 863 applies to auditors other than EY. Auditors fee are exclusive of VAT, with the exception of transaction expenses. ", "dimensions": { "concept": "ifrs-full:DisclosureOfOtherOperatingIncomeExpenseExplanatory", "language": "en", "entity": "scheme:5967007LIEEXZXISIG31", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00" } }, "fact-362": { "value": "Note 5: Other operating expenses
KNOK
2023
2022
Rent, electricity, cleaning
16,962
13,242
Vehicles
14,317
11,473
Other consultancy fees
38,450
47,414
IT
44,927
25,018
Travel
11,632
8,632
Marketing
9,984
10,044
Other costs
28,972
19,152
Total
165,244
134,976
Specification of recognized auditors fee:
2023
2022
Fee for auditing services
3,924
2,365
Fee for tax advise
-
14
Fee for other services
145
292
Total
4,069
2,671
1 1) Of which TNOK 863 applies to auditors other than EY. Auditors fee are exclusive of VAT, with the exception of transaction expenses. Note 9: Payroll costs and number of employees
KNOK
2023
2022
Salaries
262,080
224,046
Severance packages
8,382
537
Director's fee and Nomination Committee
2,240
1,958
Social fee
46,449
39,092
Pension costs
15,728
13,429
Other payroll costs
31,903
26,781
Total payroll costs
366,782
305,842
Number of full-time employees employed during the year:
514
472
Number of full-time employees at the end of the year:
524
511
The employees in StrongPoint have pension schemes in line with local statutory and obligatory company pension schemes, and are in general recognized as a defined contribution plan. Salaries and remuneration for Executive Management Team and Directors
KNOK
2023
2022
Board of Directors
Director's fee
2,082
1,834
Executive Management Team
Salaries
19,200
16,552
Bonus
2,771
4,902
Company car
1,022
891
Exercised options
2,156
-
Other remuneration
902
1,102
Pension expenses
1,866
1,223
Total salaries and remuneration
29,998
26,504
Remuneration to the Chief Executive Officer (CEO) and other senior executives will be presented in a separate Renumeration report to the Annual General Meeting, and will be published on strongpoint.com. The following members of the Executive Management Team and Board of Directors own shares or share options in the company per 31.12:
Name, position
Shares per
Shares per Options per Options per
31.12.23 31.12.22 31.12.23 31.12.22
Board of Directors
Morthen Johannessen, Chairman \u00b9
112,135
105,662
Klaus de Vibe, former Director
92,491
Peter Wir\u00e9n, Director
40,607
33,345
Ingeborg Molden Hegstad, Director
25,602
22,365
Cathrine Laksfoss, Director
5,211
1,974
Audun Nordtveit, Director
23,072
Total
206,627
255,837
-
-
2 1) Morthen Johannessen ownes the shares privatly and through the company Motri AS. 2) Ingeborg Molden Hegstad ownes the shares privatly and through the company Imsight AS. 3) Jacob Tveraabak ownes the shares privately and through the company Celo Industries AS.
Name, position
Shares per
Shares per Options per Options per
31.12.23 31.12.22 31.12.23 31.12.22
Executive Management Team
Jacob Tveraabak, CEO
230,843
212,246
750,000
600,000
Hilde Gilen CFO to 31.05.23
53,827
93,750
Marius Drefvelin CFO from 01.09.23
150,000
Knut Olav Nyhus Olsen, SVP People
31,227
13,814
275,000
225,000
& Organisation, and head of Marketing
and Internal Communication
Gisle Elvebakken, SVP Norway
47,645
39,329
350,000
250,000
Julius Stulpinas, SVP Technology &
38,365
31,094
250,000
225,000
supply chain
Rimantas Ma\u017eulis, SVP Baltics
30,523
22,806
325,000
225,000
Lorena G\u00f3mez, SVP Spain
19,846
5,350
200,000
125,000
Chris Mackie, SVP E-commerce
25,104
15,936
125,000
75,000
Magnus Ros\u00e9n, SVP Sweden
15,886
9,000
175,000
75,000
Steve Smith, SVP UK & Ireland 75,000
to 13.11.23
Total
439,439
403,402
2,600,000
1,968,750
3 Members of the Extended Group Management Team and key employees have stock options:
Total costs and Social Security Provisions (KNOK)
2023
2022
Total IFRS cost
6,827
5,420
Total Social security provisions
-432
-341
6,395
5,079
Granted instruments
2023
2022
Instrument
Option
Option
Quantity 31.12 (instruments)
1,335,000
1,100,000
Quantity 31.12 (shares)
1,335,000
1,100,000
Contractual life *
5.00
5.00
Strike price *
21.34
22.55
Share price *
21.16
22.25
Expected lifetime *
3.25
3.25
Volatility *
43.11%
43.26%
Interest rate *
3.308%
2.599%
Dividend *
0.00
0.00
FV per instrument *
7.07
7.21
* Weighted average parameters at grant of instrument. Outstanding instruments Year End - Option Quantity and weighted average prices
Weighted
Number of Average
Activity instruments Strike Price
Outstanding OB (01.01.2023)
2,668,750
22.23
Granted
1,335,000
21.34
Exercised
-300,000
15.58
Terminated
-281,250
23.88
Outstanding CB (31.12.2023)
3,422,500
22.33
Vested CB
1,168,750
21.12
1 1) Exercised share price NOK 23,42 Outstanding Instruments Overview
Weighted
Average
remaining Vested
Number of contractual Weighted Average instruments Weighted Average
Strike price instruments life Strike Price 31.12.2023 Strike Price
Outstanding Instruments:
Vested Instruments:
14.68
550 000
1.84
14.68
550 000
14.68
18.00
150 000
4.67
18.00
-
-
19.63
31 250
3.44
19.63
31 250
19.63
21.77
1 110 000
4.36
21.77
-
-
21.91
831 250
3.36
21.91
212 500
21.91
30.23
750 000
2.35
30.23
375 000
30.23
3 422 500
1 168 750
Method of valuation: The fair value of share options granted is estimated at the date of grant using the Black-Scholes- Merton Option Pricing Model. The model uses the following parameters; the exercise price, the life of the option, the current price of the underlying shares, the expected volatility of the share price, the dividends expected on the shares, and the risk-free interest rate for the life of the option. The measure of volatility used in the option pricing models is the annulised standard deviation of the continuously compounded rates of return on the share over a period of time. Vesting requirements: The vesting of the options is dependent on the participant still being employed at Strongpoint at the time of the vesting. Method of settlement: All StrongPoint ASA options are intended to be settled in equity, but in the event that the Company is not capable of delivering Shares following an exercise of Options, the Company shall fulfil its obligations under this Agreement through a cash-out. Vesting period The options will vest over three years, with \u00bc vesting after one year, \u00bc after two years, and the remaining 2/4 after three years. The split in vesting underpins the retention ambition of the program. Any non-exercised options expire five years after grant. Note 26: Tax Tax expense:
KNOK
2023
2022
Tax payable
3,891
16,108
Tax items relating to previous years
-
726
Change in deferred tax
-15,023
-7,774
Tax expense
-11,132
9,060
Included as tax expense in the financial statements
-11,132
9,060
Reconciliation of the nominal tax rate
22%
22%
KNOK
2023
2022
Profit before tax
-45,331
38,165
Tax calculated at a rate of 22%
-9,973
8,396
Taxes related to companies in other countries with other tax rate
-2,347
-2,926
Non-taxable items (22% of permanent differences)
884
2,345
Unrecognised deferred tax asset
304
1,245
Tax expense
-11,132
9,060
Deferred tax assets and deferred tax liabilities:
Consolidated income
Deferred tax assets Deferred tax liabilities statement
KNOK
2023
2022
2023
2022
2023
2022
Current assets
665
631
3,756
4,271
-926
-1,542
Liabilities
4,393
3,092
-2,318
-3,185
-2,169
-642
Fixed assets
248
347
-18,219
-18,301
-532
-3,048
Losses carried forward
25,800
16,855
-1,331
-3,783
-11,397
-2,542
Deferred tax
31,106
20,925
-18,111
-20,997
-15,023
-7,774
The Company has no liabilities / deferred tax assets that effect Total comprehensive income. Per 31.12.2023 the group has losses carried forward of MNOK 80.4 in the Spanish entities. Deferred tax assets of MNOK 20.1 (MNOK 15.5) associated with this is included in the balance sheet.", "dimensions": { "concept": "ifrs-full:DisclosureOfExpensesExplanatory", "language": "en", "entity": "scheme:5967007LIEEXZXISIG31", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00" } }, "fact-325": { "value": "
Specification of recognized auditors fee:
2023
2022
Fee for auditing services
3,924
2,365
Fee for tax advise
-
14
Fee for other services
145
292
Total
4,069
2,671
1
1) Of which TNOK 863 applies to auditors other than EY. Auditors fee are exclusive of VAT, with the exception of
transaction expenses.
", "dimensions": { "concept": "ifrs-full:DisclosureOfAuditorsRemunerationExplanatory", "language": "en", "entity": "scheme:5967007LIEEXZXISIG31", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00" } }, "fact-291": { "value": "Note 6: Investment in associated companies StrongPoint ASA owns 49,9997% of the shares in Spok AS. StrongPoint doesnt have any defacto control. The company performs services on behalf of StrongPoint AS. StrongPoint ASA had the following investments in associated companies per 31 December 2023:
Cost Book Dividend Share of Book
KNOK Stake price value paid in net profit value
Entity
Country
Industry
31.12.2023
31.12.2023
31.12.2022
2023
2023
31.12.2023
Spok AS
Norway
Service company
50.0%
1,700
962
-300
191
853
An overview of financial information about the associated company, based on 100%:
2023
KNOK Current Fixed Profit for
Entity assets
assets
Debt
Equity
Turnover
year
Spok AS
4,181
1,312
3,658
1,835
13,977
517
", "dimensions": { "concept": "ifrs-full:DisclosureOfSignificantInvestmentsInAssociatesExplanatory", "language": "en", "entity": "scheme:5967007LIEEXZXISIG31", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00" } }, "fact-326": { "value": "Note 6: Investment in associated companies StrongPoint ASA owns 49,9997% of the shares in Spok AS. StrongPoint doesnt have any defacto control. The company performs services on behalf of StrongPoint AS. StrongPoint ASA had the following investments in associated companies per 31 December 2023:
Cost Book Dividend Share of Book
KNOK Stake price value paid in net profit value
Entity
Country
Industry
31.12.2023
31.12.2023
31.12.2022
2023
2023
31.12.2023
Spok AS
Norway
Service company
50.0%
1,700
962
-300
191
853
An overview of financial information about the associated company, based on 100%:
2023
KNOK Current Fixed Profit for
Entity assets
assets
Debt
Equity
Turnover
year
Spok AS
4,181
1,312
3,658
1,835
13,977
517
", "dimensions": { "concept": "ifrs-full:DisclosureOfInvestmentsAccountedForUsingEquityMethodExplanatory", "language": "en", "entity": "scheme:5967007LIEEXZXISIG31", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00" } }, "fact-292": { "value": "Note 7: Shares in other companies
KNOK
2023
2022
Company
Cost price
Market
Cost price
Market
value value
Other long term investments:
Settle Group AS
476
-
476
-
1X Technologies AS
4,001
4,001
4,001
4,001
Total
4,477
4,001
4,477
4,001
The shares are booked at fair value with level 3 in the fair value hierarchy. Any changes in the value will be booked through the P&L. The shares in 1X Technologies AS (Halodi Robotics AS) is of strategic importance for the Group. In March 2021, StrongPoint announced a partnership with humanoid robotics company 1X Technologies to develop an in-store grocery retail robotics solution, which in a few years\u2019 time will be seen in grocery stores conducting repetitive, labour-intensive tasks which will drive in-store efficiencies. The shares in Settle Group AS were written down to 0 in 2018 and the fair value is evaluated to be unchanged.", "dimensions": { "concept": "ifrs-full:DisclosureOfInvestmentsOtherThanInvestmentsAccountedForUsingEquityMethodExplanatory", "language": "en", "entity": "scheme:5967007LIEEXZXISIG31", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00" } }, "fact-328": { "value": "Note 8: Financial items
KNOK
2023
2022
Interest income
1,604
772
Currency adjustment bank and unpaid receivables and liabilities
9,818
5,448
Profit from associated companies
191
388
Other financial income
150
284
Total financial income
11,763
6,891
Interest expense
-6,924
-2,031
Interest expenses leasing IFRS 16
-4,297
-2,168
Currency adjustment bank and unpaid receivables and liabilities
-1,840
-984
Other financial expenses
-4,585
-890
Total financial expenses
-17,646
-6,073
Net financial items
-5,884
818
1 2 1) The interest expenses have increased due to higher interest rates and higher utilization of the overdraft. 2) Of which KNOK 1,420 in reversal of earn-out related to the sale of the business area Cash Security in 2020 and KNOK 2,847 regarding the financing of the new subsidiary in Spain. Currency differences relating to the payment of purchases are recorded as cost of goods and constitutes a cost of KNOK 1,684 in 2023 (cost of KNOK 6,096 in 2022). Currency differences relating to the payment of sales revenues are recorded as sales revenues and constitutes a cost of KNOK 953 in 2023 (revenue of KNOK 2,085 in 2022).", "dimensions": { "concept": "ifrs-full:DisclosureOfFinanceIncomeExplanatory", "language": "en", "entity": "scheme:5967007LIEEXZXISIG31", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00" } }, "fact-343": { "value": "Note 8: Financial items
KNOK
2023
2022
Interest income
1,604
772
Currency adjustment bank and unpaid receivables and liabilities
9,818
5,448
Profit from associated companies
191
388
Other financial income
150
284
Total financial income
11,763
6,891
Interest expense
-6,924
-2,031
Interest expenses leasing IFRS 16
-4,297
-2,168
Currency adjustment bank and unpaid receivables and liabilities
-1,840
-984
Other financial expenses
-4,585
-890
Total financial expenses
-17,646
-6,073
Net financial items
-5,884
818
1 2 1) The interest expenses have increased due to higher interest rates and higher utilization of the overdraft. 2) Of which KNOK 1,420 in reversal of earn-out related to the sale of the business area Cash Security in 2020 and KNOK 2,847 regarding the financing of the new subsidiary in Spain. Currency differences relating to the payment of purchases are recorded as cost of goods and constitutes a cost of KNOK 1,684 in 2023 (cost of KNOK 6,096 in 2022). Currency differences relating to the payment of sales revenues are recorded as sales revenues and constitutes a cost of KNOK 953 in 2023 (revenue of KNOK 2,085 in 2022).", "dimensions": { "concept": "ifrs-full:DisclosureOfFinanceCostExplanatory", "language": "en", "entity": "scheme:5967007LIEEXZXISIG31", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00" } }, "fact-353": { "value": "Note 8: Financial items
KNOK
2023
2022
Interest income
1,604
772
Currency adjustment bank and unpaid receivables and liabilities
9,818
5,448
Profit from associated companies
191
388
Other financial income
150
284
Total financial income
11,763
6,891
Interest expense
-6,924
-2,031
Interest expenses leasing IFRS 16
-4,297
-2,168
Currency adjustment bank and unpaid receivables and liabilities
-1,840
-984
Other financial expenses
-4,585
-890
Total financial expenses
-17,646
-6,073
Net financial items
-5,884
818
1 2 1) The interest expenses have increased due to higher interest rates and higher utilization of the overdraft. 2) Of which KNOK 1,420 in reversal of earn-out related to the sale of the business area Cash Security in 2020 and KNOK 2,847 regarding the financing of the new subsidiary in Spain. Currency differences relating to the payment of purchases are recorded as cost of goods and constitutes a cost of KNOK 1,684 in 2023 (cost of KNOK 6,096 in 2022). Currency differences relating to the payment of sales revenues are recorded as sales revenues and constitutes a cost of KNOK 953 in 2023 (revenue of KNOK 2,085 in 2022).", "dimensions": { "concept": "ifrs-full:DisclosureOfInterestIncomeExplanatory", "language": "en", "entity": "scheme:5967007LIEEXZXISIG31", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00" } }, "fact-359": { "value": "Note 8: Financial items
KNOK
2023
2022
Interest income
1,604
772
Currency adjustment bank and unpaid receivables and liabilities
9,818
5,448
Profit from associated companies
191
388
Other financial income
150
284
Total financial income
11,763
6,891
Interest expense
-6,924
-2,031
Interest expenses leasing IFRS 16
-4,297
-2,168
Currency adjustment bank and unpaid receivables and liabilities
-1,840
-984
Other financial expenses
-4,585
-890
Total financial expenses
-17,646
-6,073
Net financial items
-5,884
818
1 2 1) The interest expenses have increased due to higher interest rates and higher utilization of the overdraft. 2) Of which KNOK 1,420 in reversal of earn-out related to the sale of the business area Cash Security in 2020 and KNOK 2,847 regarding the financing of the new subsidiary in Spain. Currency differences relating to the payment of purchases are recorded as cost of goods and constitutes a cost of KNOK 1,684 in 2023 (cost of KNOK 6,096 in 2022). Currency differences relating to the payment of sales revenues are recorded as sales revenues and constitutes a cost of KNOK 953 in 2023 (revenue of KNOK 2,085 in 2022).", "dimensions": { "concept": "ifrs-full:DisclosureOfInterestIncomeExpenseExplanatory", "language": "en", "entity": "scheme:5967007LIEEXZXISIG31", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00" } }, "fact-363": { "value": "Note 8: Financial items
KNOK
2023
2022
Interest income
1,604
772
Currency adjustment bank and unpaid receivables and liabilities
9,818
5,448
Profit from associated companies
191
388
Other financial income
150
284
Total financial income
11,763
6,891
Interest expense
-6,924
-2,031
Interest expenses leasing IFRS 16
-4,297
-2,168
Currency adjustment bank and unpaid receivables and liabilities
-1,840
-984
Other financial expenses
-4,585
-890
Total financial expenses
-17,646
-6,073
Net financial items
-5,884
818
1 2 1) The interest expenses have increased due to higher interest rates and higher utilization of the overdraft. 2) Of which KNOK 1,420 in reversal of earn-out related to the sale of the business area Cash Security in 2020 and KNOK 2,847 regarding the financing of the new subsidiary in Spain. Currency differences relating to the payment of purchases are recorded as cost of goods and constitutes a cost of KNOK 1,684 in 2023 (cost of KNOK 6,096 in 2022). Currency differences relating to the payment of sales revenues are recorded as sales revenues and constitutes a cost of KNOK 953 in 2023 (revenue of KNOK 2,085 in 2022).", "dimensions": { "concept": "ifrs-full:DisclosureOfInterestExpenseExplanatory", "language": "en", "entity": "scheme:5967007LIEEXZXISIG31", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00" } }, "fact-294": { "value": "Note 8: Financial items
KNOK
2023
2022
Interest income
1,604
772
Currency adjustment bank and unpaid receivables and liabilities
9,818
5,448
Profit from associated companies
191
388
Other financial income
150
284
Total financial income
11,763
6,891
Interest expense
-6,924
-2,031
Interest expenses leasing IFRS 16
-4,297
-2,168
Currency adjustment bank and unpaid receivables and liabilities
-1,840
-984
Other financial expenses
-4,585
-890
Total financial expenses
-17,646
-6,073
Net financial items
-5,884
818
1 2 1) The interest expenses have increased due to higher interest rates and higher utilization of the overdraft. 2) Of which KNOK 1,420 in reversal of earn-out related to the sale of the business area Cash Security in 2020 and KNOK 2,847 regarding the financing of the new subsidiary in Spain. Currency differences relating to the payment of purchases are recorded as cost of goods and constitutes a cost of KNOK 1,684 in 2023 (cost of KNOK 6,096 in 2022). Currency differences relating to the payment of sales revenues are recorded as sales revenues and constitutes a cost of KNOK 953 in 2023 (revenue of KNOK 2,085 in 2022).", "dimensions": { "concept": "ifrs-full:DisclosureOfFinanceIncomeExpenseExplanatory", "language": "en", "entity": "scheme:5967007LIEEXZXISIG31", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00" } }, "fact-327": { "value": "Note 9: Payroll costs and number of employees
KNOK
2023
2022
Salaries
262,080
224,046
Severance packages
8,382
537
Director's fee and Nomination Committee
2,240
1,958
Social fee
46,449
39,092
Pension costs
15,728
13,429
Other payroll costs
31,903
26,781
Total payroll costs
366,782
305,842
Number of full-time employees employed during the year:
514
472
Number of full-time employees at the end of the year:
524
511
The employees in StrongPoint have pension schemes in line with local statutory and obligatory company pension schemes, and are in general recognized as a defined contribution plan. Salaries and remuneration for Executive Management Team and Directors
KNOK
2023
2022
Board of Directors
Director's fee
2,082
1,834
Executive Management Team
Salaries
19,200
16,552
Bonus
2,771
4,902
Company car
1,022
891
Exercised options
2,156
-
Other remuneration
902
1,102
Pension expenses
1,866
1,223
Total salaries and remuneration
29,998
26,504
Remuneration to the Chief Executive Officer (CEO) and other senior executives will be presented in a separate Renumeration report to the Annual General Meeting, and will be published on strongpoint.com. The following members of the Executive Management Team and Board of Directors own shares or share options in the company per 31.12:
Name, position
Shares per
Shares per Options per Options per
31.12.23 31.12.22 31.12.23 31.12.22
Board of Directors
Morthen Johannessen, Chairman \u00b9
112,135
105,662
Klaus de Vibe, former Director
92,491
Peter Wir\u00e9n, Director
40,607
33,345
Ingeborg Molden Hegstad, Director
25,602
22,365
Cathrine Laksfoss, Director
5,211
1,974
Audun Nordtveit, Director
23,072
Total
206,627
255,837
-
-
2 1) Morthen Johannessen ownes the shares privatly and through the company Motri AS. 2) Ingeborg Molden Hegstad ownes the shares privatly and through the company Imsight AS. 3) Jacob Tveraabak ownes the shares privately and through the company Celo Industries AS.
Name, position
Shares per
Shares per Options per Options per
31.12.23 31.12.22 31.12.23 31.12.22
Executive Management Team
Jacob Tveraabak, CEO
230,843
212,246
750,000
600,000
Hilde Gilen CFO to 31.05.23
53,827
93,750
Marius Drefvelin CFO from 01.09.23
150,000
Knut Olav Nyhus Olsen, SVP People
31,227
13,814
275,000
225,000
& Organisation, and head of Marketing
and Internal Communication
Gisle Elvebakken, SVP Norway
47,645
39,329
350,000
250,000
Julius Stulpinas, SVP Technology &
38,365
31,094
250,000
225,000
supply chain
Rimantas Ma\u017eulis, SVP Baltics
30,523
22,806
325,000
225,000
Lorena G\u00f3mez, SVP Spain
19,846
5,350
200,000
125,000
Chris Mackie, SVP E-commerce
25,104
15,936
125,000
75,000
Magnus Ros\u00e9n, SVP Sweden
15,886
9,000
175,000
75,000
Steve Smith, SVP UK & Ireland 75,000
to 13.11.23
Total
439,439
403,402
2,600,000
1,968,750
3 Members of the Extended Group Management Team and key employees have stock options:
Total costs and Social Security Provisions (KNOK)
2023
2022
Total IFRS cost
6,827
5,420
Total Social security provisions
-432
-341
6,395
5,079
Granted instruments
2023
2022
Instrument
Option
Option
Quantity 31.12 (instruments)
1,335,000
1,100,000
Quantity 31.12 (shares)
1,335,000
1,100,000
Contractual life *
5.00
5.00
Strike price *
21.34
22.55
Share price *
21.16
22.25
Expected lifetime *
3.25
3.25
Volatility *
43.11%
43.26%
Interest rate *
3.308%
2.599%
Dividend *
0.00
0.00
FV per instrument *
7.07
7.21
* Weighted average parameters at grant of instrument. Outstanding instruments Year End - Option Quantity and weighted average prices
Weighted
Number of Average
Activity instruments Strike Price
Outstanding OB (01.01.2023)
2,668,750
22.23
Granted
1,335,000
21.34
Exercised
-300,000
15.58
Terminated
-281,250
23.88
Outstanding CB (31.12.2023)
3,422,500
22.33
Vested CB
1,168,750
21.12
1 1) Exercised share price NOK 23,42 Outstanding Instruments Overview
Weighted
Average
remaining Vested
Number of contractual Weighted Average instruments Weighted Average
Strike price instruments life Strike Price 31.12.2023 Strike Price
Outstanding Instruments:
Vested Instruments:
14.68
550 000
1.84
14.68
550 000
14.68
18.00
150 000
4.67
18.00
-
-
19.63
31 250
3.44
19.63
31 250
19.63
21.77
1 110 000
4.36
21.77
-
-
21.91
831 250
3.36
21.91
212 500
21.91
30.23
750 000
2.35
30.23
375 000
30.23
3 422 500
1 168 750
Method of valuation: The fair value of share options granted is estimated at the date of grant using the Black-Scholes- Merton Option Pricing Model. The model uses the following parameters; the exercise price, the life of the option, the current price of the underlying shares, the expected volatility of the share price, the dividends expected on the shares, and the risk-free interest rate for the life of the option. The measure of volatility used in the option pricing models is the annulised standard deviation of the continuously compounded rates of return on the share over a period of time. Vesting requirements: The vesting of the options is dependent on the participant still being employed at Strongpoint at the time of the vesting. Method of settlement: All StrongPoint ASA options are intended to be settled in equity, but in the event that the Company is not capable of delivering Shares following an exercise of Options, the Company shall fulfil its obligations under this Agreement through a cash-out. Vesting period The options will vest over three years, with \u00bc vesting after one year, \u00bc after two years, and the remaining 2/4 after three years. The split in vesting underpins the retention ambition of the program. Any non-exercised options expire five years after grant. ", "dimensions": { "concept": "ifrs-full:DisclosureOfEmployeeBenefitsExplanatory", "language": "en", "entity": "scheme:5967007LIEEXZXISIG31", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00" } }, "fact-293": { "value": "Number of full-time employees employed during the year: 514 472 Number of full-time employees at the end of the year: 524 511 ", "dimensions": { "concept": "ifrs-full:DisclosureOfInformationAboutEmployeesExplanatory", "language": "en", "entity": "scheme:5967007LIEEXZXISIG31", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00" } }, "fact-342": { "value": "Salaries and remuneration for Executive Management Team and Directors
KNOK
2023
2022
Board of Directors
Director's fee
2,082
1,834
Executive Management Team
Salaries
19,200
16,552
Bonus
2,771
4,902
Company car
1,022
891
Exercised options
2,156
-
Other remuneration
902
1,102
Pension expenses
1,866
1,223
Total salaries and remuneration
29,998
26,504
Remuneration to the Chief Executive Officer (CEO) and other senior executives will be presented in a separate Renumeration report to the Annual General Meeting, and will be published on strongpoint.com. The following members of the Executive Management Team and Board of Directors own shares or share options in the company per 31.12:
Name, position
Shares per
Shares per Options per Options per
31.12.23 31.12.22 31.12.23 31.12.22
Board of Directors
Morthen Johannessen, Chairman \u00b9
112,135
105,662
Klaus de Vibe, former Director
92,491
Peter Wir\u00e9n, Director
40,607
33,345
Ingeborg Molden Hegstad, Director
25,602
22,365
Cathrine Laksfoss, Director
5,211
1,974
Audun Nordtveit, Director
23,072
Total
206,627
255,837
-
-
2 1) Morthen Johannessen ownes the shares privatly and through the company Motri AS. 2) Ingeborg Molden Hegstad ownes the shares privatly and through the company Imsight AS. 3) Jacob Tveraabak ownes the shares privately and through the company Celo Industries AS.
Name, position
Shares per
Shares per Options per Options per
31.12.23 31.12.22 31.12.23 31.12.22
Executive Management Team
Jacob Tveraabak, CEO
230,843
212,246
750,000
600,000
Hilde Gilen CFO to 31.05.23
53,827
93,750
Marius Drefvelin CFO from 01.09.23
150,000
Knut Olav Nyhus Olsen, SVP People
31,227
13,814
275,000
225,000
& Organisation, and head of Marketing
and Internal Communication
Gisle Elvebakken, SVP Norway
47,645
39,329
350,000
250,000
Julius Stulpinas, SVP Technology &
38,365
31,094
250,000
225,000
supply chain
Rimantas Ma\u017eulis, SVP Baltics
30,523
22,806
325,000
225,000
Lorena G\u00f3mez, SVP Spain
19,846
5,350
200,000
125,000
Chris Mackie, SVP E-commerce
25,104
15,936
125,000
75,000
Magnus Ros\u00e9n, SVP Sweden
15,886
9,000
175,000
75,000
Steve Smith, SVP UK & Ireland 75,000
to 13.11.23
Total
439,439
403,402
2,600,000
1,968,750
3 Members of the Extended Group Management Team and key employees have stock options:
Total costs and Social Security Provisions (KNOK)
2023
2022
Total IFRS cost
6,827
5,420
Total Social security provisions
-432
-341
6,395
5,079
Granted instruments
2023
2022
Instrument
Option
Option
Quantity 31.12 (instruments)
1,335,000
1,100,000
Quantity 31.12 (shares)
1,335,000
1,100,000
Contractual life *
5.00
5.00
Strike price *
21.34
22.55
Share price *
21.16
22.25
Expected lifetime *
3.25
3.25
Volatility *
43.11%
43.26%
Interest rate *
3.308%
2.599%
Dividend *
0.00
0.00
FV per instrument *
7.07
7.21
* Weighted average parameters at grant of instrument. Outstanding instruments Year End - Option Quantity and weighted average prices
Weighted
Number of Average
Activity instruments Strike Price
Outstanding OB (01.01.2023)
2,668,750
22.23
Granted
1,335,000
21.34
Exercised
-300,000
15.58
Terminated
-281,250
23.88
Outstanding CB (31.12.2023)
3,422,500
22.33
Vested CB
1,168,750
21.12
1 1) Exercised share price NOK 23,42 Outstanding Instruments Overview
Weighted
Average
remaining Vested
Number of contractual Weighted Average instruments Weighted Average
Strike price instruments life Strike Price 31.12.2023 Strike Price
Outstanding Instruments:
Vested Instruments:
14.68
550 000
1.84
14.68
550 000
14.68
18.00
150 000
4.67
18.00
-
-
19.63
31 250
3.44
19.63
31 250
19.63
21.77
1 110 000
4.36
21.77
-
-
21.91
831 250
3.36
21.91
212 500
21.91
30.23
750 000
2.35
30.23
375 000
30.23
3 422 500
1 168 750
Method of valuation: The fair value of share options granted is estimated at the date of grant using the Black-Scholes- Merton Option Pricing Model. The model uses the following parameters; the exercise price, the life of the option, the current price of the underlying shares, the expected volatility of the share price, the dividends expected on the shares, and the risk-free interest rate for the life of the option. The measure of volatility used in the option pricing models is the annulised standard deviation of the continuously compounded rates of return on the share over a period of time. Vesting requirements: The vesting of the options is dependent on the participant still being employed at Strongpoint at the time of the vesting. Method of settlement: All StrongPoint ASA options are intended to be settled in equity, but in the event that the Company is not capable of delivering Shares following an exercise of Options, the Company shall fulfil its obligations under this Agreement through a cash-out. Vesting period The options will vest over three years, with \u00bc vesting after one year, \u00bc after two years, and the remaining 2/4 after three years. The split in vesting underpins the retention ambition of the program. Any non-exercised options expire five years after grant. ", "dimensions": { "concept": "ifrs-full:DisclosureOfInformationAboutKeyManagementPersonnelExplanatory", "language": "en", "entity": "scheme:5967007LIEEXZXISIG31", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00" } }, "fact-295": { "value": "Note 10: Tangible assets Tangible assets, company owned
KNOK Equipment Total Equipment Total
Land Buildings owned 2023 Land Buildings owned 2022
Acquisition costs 01.01
825
8,731
79,880
89,436
825
8,731
56,931
66,487
Acquisition
-
20,346
20,346
Addition
13,845
13,845
11,041
11,041
Divestment
-4,434
-4,434
-9,664
-9,664
Currency exchange differences
5,473
5,473
1,225
1,225
Acquisition costs 31.12
825
8,731
94,764
104,320
825
8,731
79,880
89,436
Accumulated depreciations 01.01
-825
-8,731
-56,125
-65,681
-825
-8,731
-37,901
-47,457
Acquisition
-
-18,294
-18,294
Depreciations
-4,537
-4,537
-5,035
-5,035
Depreciations of the year regarding rental machines is
booked as cost of gods sold
-4,308
-4,308
-3,812
-3,812
Divestment
4,330
4,330
9,650
9,650
Currency exchange differences
-3,727
-3,727
-733
-733
Accumulated depreciations 31.12
-825
-8,731
-64,366
-73,922
-825
-8,731
-56,125
-65,681
Book value 31.12
-
-
30,397
30,397
-
-
23,755
23,755
Depreciation ratio
10-33%
10-33%
Depreciation method
Linear
Linear
Some equipment has been fully depreciated per 31 December 2023 but is still in use. StrongPoint has no contractual purchasing obligations. Tangible assets, right of use About StrongPoint
KNOK
Right of use
Right of use Total Right of use Right of use Total
offices equipment 2023 offices equipment 2022
Acquisition costs 01.01
113,840
35,140
148,980
61,694
27,496
89,190
Acquisition
-
38,437
38,437
Addition
25,872
6,841
32,713
13,346
6,911
20,257
Divestment
371
371
16
16
Currency exchange differences
7,930
2,136
10,067
363
717
1,080
Acquisition costs 31.12
147,642
44,489
192,131
113,840
35,140
148,980
Accumulated depreciations 01.01
-44,795
-21,486
-66,281
-30,266
-15,682
-45,948
Depreciations
-15,510
-6,950
-22,459
-14,189
-6,128
-20,317
Currency exchange differences
-2,510
-1,312
-3,822
-340
324
-16
Accumulated depreciations 31.12
-62,815
-29,748
-92,562
-44,795
-21,486
-66,281
Book value 31.12
84,827
14,741
99,568
69,044
13,654
82,698
Depreciation ratio
10-33%
10-33%
10-33%
10-33%
Depreciation method
Our WHY statement Key figures 2021-2023 CEO statement Company strategy People & organization 2023 Highlights Future of grocery retail AT A GLANCE Product segments Markets See note 16 for information about the comittments related to the leasing.", "dimensions": { "concept": "ifrs-full:DisclosureOfPropertyPlantAndEquipmentExplanatory", "language": "en", "entity": "scheme:5967007LIEEXZXISIG31", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00" } }, "fact-329": { "value": "
Tangible assets, right of use
About StrongPoint
KNOK
Right of use
Right of use Total Right of use Right of use Total
offices equipment 2023 offices equipment 2022
Acquisition costs 01.01
113,840
35,140
148,980
61,694
27,496
89,190
Acquisition
-
38,437
38,437
Addition
25,872
6,841
32,713
13,346
6,911
20,257
Divestment
371
371
16
16
Currency exchange differences
7,930
2,136
10,067
363
717
1,080
Acquisition costs 31.12
147,642
44,489
192,131
113,840
35,140
148,980
Accumulated depreciations 01.01
-44,795
-21,486
-66,281
-30,266
-15,682
-45,948
Depreciations
-15,510
-6,950
-22,459
-14,189
-6,128
-20,317
Currency exchange differences
-2,510
-1,312
-3,822
-340
324
-16
Accumulated depreciations 31.12
-62,815
-29,748
-92,562
-44,795
-21,486
-66,281
Book value 31.12
84,827
14,741
99,568
69,044
13,654
82,698
Depreciation ratio
10-33%
10-33%
10-33%
10-33%
Depreciation method
Our WHY statement
Key figures 2021-2023
CEO statement
Company strategy
People & organization
2023 Highlights
Future of grocery retail
AT A GLANCE
Product segments
Markets
See note 16 for information about the comittments related to the leasing.
", "dimensions": { "concept": "ifrs-full:DisclosureOfQuantitativeInformationAboutRightofuseAssetsExplanatory", "language": "en", "entity": "scheme:5967007LIEEXZXISIG31", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00" } }, "fact-296": { "value": "Note 11: Intangible assets About StrongPoint Our WHY statement
Other intangible assets
2023
2022
(KNOK)
Technology
Brand
Customer
Software
Total
Technology
Brand
Customer
Software
Total
Acquisition costs 01.01
107,510
31,502
92,425
9,376
240,813
107,510
21,502
36,425
9,272
174,709
Acquired by aquisition
16,105
3,409
19,514
10,000
56,000
66,000
Investment
23,425
3,798
27,223
104
104
Acquisition costs 31.12
147,040
31,502
95,834
13,174
287,550
107,510
31,502
92,425
9,376
240,813
Accumulated impairments and depreciations 01.01
-105,655
-1,164
-42,632
-8,383
-157,834
-101,268
-
-35,344
-8,382
-144,994
Accumulated impairments and depreciations 31.12
-105,655
-3,371
-51,581
-8,390
-168,998
-105,655
-1,164
-42,632
-8,383
-157,834
Translation differences
-1,855
3,383
6,129
-883
6,774
-1,855
937
1,332
-890
-476
Book value 31.12
39,530
31,513
50,382
3,901
125,327
0
31,275
51,125
103
82,503
Depreciations of the year
-
-2,207
-8,949
-7
-11,163
-4,387
-1,164
-7,288
-1
-12,840
Impairment of the year
-
-
-
-
-
-
-
-
-
-
This year change in translation differences
-
2,446
4,792
7
7,245
-110
-735
-285
-
-1,130
Depreciation schedule
10 and 15
Impairment 1-7 4-7 10 and 15 Impairment 1-7 4-7
years test years years years test years years
Depreciation ratio
7-10%
14-100%
14-25%
7-10%
14-100%
14-25%
Key figures 2021-2023 CEO statement Company strategy People & organization 2023 Highlights Future of grocery retail AT A GLANCE Product segments Markets In 2023 there have been expensed KNOK 49,770 (KNOK 42,993 in 2022) in research and development costs. ESG Intangible assets regarding brand are related to CashGuard and ALS.
Goodwill StrongPoint StrongPoint StrongPoint StrongPoint Total Total
(KNOK)
StrongPoint AS
StrongPoint AB Technology AB Baltic S.L.U E-com AB ALS Hamari 2023 2022
Acquisition costs 01.01
15,976
2,612
81,127
23,318
4,431
25,889
38,268
191,620
153,352
Acquisition
2,914
2,914
38,268
Acquisition costs 31.12
15,976
2,612
81,127
23,318
4,431
25,889
38,268
2,914
194,535
191,620
Accumulated impairment and depreciations 01.01
-14,689
-229
-23,345
-38,263
-38,263
Accumulated impairment and depreciations 31.12
-14,689
-229
-23,345
-38,263
-38,263
Translation differences
10,012
3,102
1,133
743
3,063
18,054
6,561
Book value 31.12
1,286
2,383
91,139
3,075
5,564
26,632
41,331
2,914
174,325
159,918
Impairment of the year
This year change in translation differences
-
-
6,091
199
360
1,780
3,063
-
11,492
-2,991
Goodwill is not depreciated. Impairment tests are carried out every year. The impairment test per 31 December 2023 has been carried out with the segments Scandinavia and International incl. R&D as the cash generating units.
Goodwill (KNOK)
Acquired company
Cash generating unit
31.12.2023
31.12.2022
StrongPoint AS
Scandinavia
1,286
1,286
StrongPoint AB
Scandinavia
2,383
2,383
StrongPoint Technology AB
Scandinavia
91,139
85,048
StrongPoint UAB
International incl. R&D
3,075
2,877
StrongPoint S.L.U
International incl. R&D
5,564
5,205
StrongPoint E-com AB
Scandinavia
26,632
24,852
StrongPoint ALS
International incl. R&D
41,331
38,268
StrongPoint Hamari Oy
International incl. R&D
2,914
-
Total goodwill
174,325
159,918
Impairment test of goodwill and intangible assets with indefinite useful life
Impairment tests are carried out in order to assess the prospects of each cash flow-generating unit
based on value in use. Value in use is measured against net book value for the cash flow-generating
entity. Key asumptions is a growth rate of 2.5% in net cash flow after five years of explicit plan and a
WACC after tax of 10,18%. Climate change is considered not to have a significant impact and is taken
into account in the cash flow.
The brands are considered to be indefinite due to the Groups strategy for 2025 which contains a
growth path for the brands, and confirms the value of the IP in the balance sheet, as long term future
cashflow is expected.
The Group has used value in use to determine recoverable amounts for the cash flow-generating
entities. Value in use is determined by using the discounted cash flow method. The expected cash
flow is based on the business areas\u2019 budgets and long term plans, which are approved by
StrongPoint\u2019s executive management and the Board. Budgets and long term plans cover a five-year
period (explicit prognosis period). Approved budgets and long term plans are adjusted for cash flows
related to investments, future product improvements and new development, if the elements are
considered significant for the impairment test. After the five years of explicit plans a terminal value is
calculated based on 2.5% growth in net cash flow. To calculate value in use, the Group has used
anticipated cash flows after tax and, correspondingly, discount rates after tax. The recoverable
amount would not have been significantly different if cash flows before tax and the discount rate
before tax had been used. The WACC after tax has been stipulated using an iterative method and is
10.18%. The assumptions are based on historical results and observable market data.
Key assumptions
Discount rate
The discount rates are based on a weighted average cost of capital (WACC) method, whereby the
cost of equity and the cost of liabilities are weighted according to an estimated capital structure. The
discount rates reflect the market\u2019s required return on investment at the time of the test and in the
industry to which the cash-generating unit belongs. The estimated capital structure is based on the
average capital structure in the industry in which the cash generating unit operates and an
assessment of what is a reasonable and prudent long term capital structure. The CAPM model is
used to estimate the cost of equity. In accordance with the CAPM model, the cost of equity consists
of risk-free interest as well as an individual risk premium. The risk premium is the entity\u2019s systematic
risk (beta), multiplied by the market\u2019s risk premium. The risk-free interest is estimated on a 10-year
Norwegian government bond interest rate and is based on all cash flows being translated to NOK. The
cost of liabilities represents an expected long term after-tax interest rate for comparable liabilities and
consists of risk-free interest and an interest spread. The pre tax discount rate is 12.82%.
Profit margin (EBITDA)
The profit margin is reviewed based on expectations of future development and historical
performance. This gives the Group good prospects for order intake and is a solid basis for
long term growth.
Growth rate
Growth rates in the explicit prognosis period are based on management\u2019s expectations of market
trends. The Group uses stable growth rates to extrapolate cash flows in excess of five years. The long
term growth rate beyond five years is not higher than the expected long term growth rate in the
industry in which the undertaking operates within.
Market shares and macro trends
Group entities monitors competition environment and market shares on a detailed level, both in the
local geography and from a product point of view. StrongPoint is a retail technology company and
exposed to global changes within technology development, international competition, supply change
and raw material distribution following political, climate or international trading challenges etc.
Expected changes in market shares or new competitive solutions that can influence future cash flow
from the business units are taken into account in the impairment test.
Risk
Group management and Board of directors monitors and acts upon risk within the following areas:
Strategic, operational, financial and sustainability/climate. Main assumptions in the impariment test
are adjusted to reflect the risk environment that the Group operates within.
Sensitivity analysis
In connection with impairment tests of goodwill and intangible assets, sensitivity analyses are carried
out. There will not be an impairment situation before relatively large changes in the key assumptions,
and these changes are considered to be outside the reasonable outcome.
Estimation uncertainty
There will always be uncertainty related to the estimate of value in use. The assessments are
based on key assumptions as described above, and are to a large degree influenced by market data
for comparable companies, interest rates and other risk conditions. These calculations are based on
discounted future cash flows, in which judgement was used as regards future profit and operation.
Significant changes in the cash flows may affect the value of goodwill.
", "dimensions": { "concept": "ifrs-full:DisclosureOfIntangibleAssetsAndGoodwillExplanatory", "language": "en", "entity": "scheme:5967007LIEEXZXISIG31", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00" } }, "fact-330": { "value": "Note 11: Intangible assets About StrongPoint Our WHY statement
Other intangible assets
2023
2022
(KNOK)
Technology
Brand
Customer
Software
Total
Technology
Brand
Customer
Software
Total
Acquisition costs 01.01
107,510
31,502
92,425
9,376
240,813
107,510
21,502
36,425
9,272
174,709
Acquired by aquisition
16,105
3,409
19,514
10,000
56,000
66,000
Investment
23,425
3,798
27,223
104
104
Acquisition costs 31.12
147,040
31,502
95,834
13,174
287,550
107,510
31,502
92,425
9,376
240,813
Accumulated impairments and depreciations 01.01
-105,655
-1,164
-42,632
-8,383
-157,834
-101,268
-
-35,344
-8,382
-144,994
Accumulated impairments and depreciations 31.12
-105,655
-3,371
-51,581
-8,390
-168,998
-105,655
-1,164
-42,632
-8,383
-157,834
Translation differences
-1,855
3,383
6,129
-883
6,774
-1,855
937
1,332
-890
-476
Book value 31.12
39,530
31,513
50,382
3,901
125,327
0
31,275
51,125
103
82,503
Depreciations of the year
-
-2,207
-8,949
-7
-11,163
-4,387
-1,164
-7,288
-1
-12,840
Impairment of the year
-
-
-
-
-
-
-
-
-
-
This year change in translation differences
-
2,446
4,792
7
7,245
-110
-735
-285
-
-1,130
Depreciation schedule
10 and 15
Impairment 1-7 4-7 10 and 15 Impairment 1-7 4-7
years test years years years test years years
Depreciation ratio
7-10%
14-100%
14-25%
7-10%
14-100%
14-25%
Key figures 2021-2023 CEO statement Company strategy People & organization 2023 Highlights Future of grocery retail AT A GLANCE Product segments Markets In 2023 there have been expensed KNOK 49,770 (KNOK 42,993 in 2022) in research and development costs. ESG Intangible assets regarding brand are related to CashGuard and ALS.
Goodwill StrongPoint StrongPoint StrongPoint StrongPoint Total Total
(KNOK)
StrongPoint AS
StrongPoint AB Technology AB Baltic S.L.U E-com AB ALS Hamari 2023 2022
Acquisition costs 01.01
15,976
2,612
81,127
23,318
4,431
25,889
38,268
191,620
153,352
Acquisition
2,914
2,914
38,268
Acquisition costs 31.12
15,976
2,612
81,127
23,318
4,431
25,889
38,268
2,914
194,535
191,620
Accumulated impairment and depreciations 01.01
-14,689
-229
-23,345
-38,263
-38,263
Accumulated impairment and depreciations 31.12
-14,689
-229
-23,345
-38,263
-38,263
Translation differences
10,012
3,102
1,133
743
3,063
18,054
6,561
Book value 31.12
1,286
2,383
91,139
3,075
5,564
26,632
41,331
2,914
174,325
159,918
Impairment of the year
This year change in translation differences
-
-
6,091
199
360
1,780
3,063
-
11,492
-2,991
oodwill is not depreciated. Impairment tests are carried out every year. The impairment test per 31 December 2023 has been carried out with the segments Scandinavia and International incl. R&D as the cash enerating units.
Goodwill (KNOK)
Acquired company
Cash generating unit
31.12.2023
31.12.2022
StrongPoint AS
Scandinavia
1,286
1,286
StrongPoint AB
Scandinavia
2,383
2,383
StrongPoint Technology AB
Scandinavia
91,139
85,048
StrongPoint UAB
International incl. R&D
3,075
2,877
StrongPoint S.L.U
International incl. R&D
5,564
5,205
StrongPoint E-com AB
Scandinavia
26,632
24,852
StrongPoint ALS
International incl. R&D
41,331
38,268
StrongPoint Hamari Oy
International incl. R&D
2,914
-
Total goodwill
174,325
159,918
Impairment test of goodwill and intangible assets with indefinite useful life Impairment tests are carried out in order to assess the prospects of each cash flow-generating unit based on value in use. Value in use is measured against net book value for the cash flow-generating entity. Key asumptions is a growth rate of 2.5% in net cash flow after five years of explicit plan and a WACC after tax of 10,18%. Climate change is considered not to have a significant impact and is taken into account in the cash flow. The brands are considered to be indefinite due to the Groups strategy for 2025 which contains a growth path for the brands, and confirms the value of the IP in the balance sheet, as long term future cashflow is expected. The Group has used value in use to determine recoverable amounts for the cash flow-generating entities. Value in use is determined by using the discounted cash flow method. The expected cash flow is based on the business areas\u2019 budgets and long term plans, which are approved by StrongPoint\u2019s executive management and the Board. Budgets and long term plans cover a five-year period (explicit prognosis period). Approved budgets and long term plans are adjusted for cash flows related to investments, future product improvements and new development, if the elements are considered significant for the impairment test. After the five years of explicit plans a terminal value is calculated based on 2.5% growth in net cash flow. To calculate value in use, the Group has used anticipated cash flows after tax and, correspondingly, discount rates after tax. The recoverable amount would not have been significantly different if cash flows before tax and the discount rate before tax had been used. The WACC after tax has been stipulated using an iterative method and is 10.18%. The assumptions are based on historical results and observable market data. Key assumptions Discount rate The discount rates are based on a weighted average cost of capital (WACC) method, whereby the cost of equity and the cost of liabilities are weighted according to an estimated capital structure. The discount rates reflect the market\u2019s required return on investment at the time of the test and in the industry to which the cash-generating unit belongs. The estimated capital structure is based on the average capital structure in the industry in which the cash generating unit operates and an assessment of what is a reasonable and prudent long term capital structure. The CAPM model is used to estimate the cost of equity. In accordance with the CAPM model, the cost of equity consists of risk-free interest as well as an individual risk premium. The risk premium is the entity\u2019s systematic risk (beta), multiplied by the market\u2019s risk premium. The risk-free interest is estimated on a 10-year Norwegian government bond interest rate and is based on all cash flows being translated to NOK. The cost of liabilities represents an expected long term after-tax interest rate for comparable liabilities and consists of risk-free interest and an interest spread. The pre tax discount rate is 12.82%. Profit margin (EBITDA) The profit margin is reviewed based on expectations of future development and historical performance. This gives the Group good prospects for order intake and is a solid basis for long term growth. Growth rate Growth rates in the explicit prognosis period are based on management\u2019s expectations of market trends. The Group uses stable growth rates to extrapolate cash flows in excess of five years. The long term growth rate beyond five years is not higher than the expected long term growth rate in the industry in which the undertaking operates within. Market shares and macro trends Group entities monitors competition environment and market shares on a detailed level, both in the local geography and from a product point of view. StrongPoint is a retail technology company and exposed to global changes within technology development, international competition, supply change and raw material distribution following political, climate or international trading challenges etc. Expected changes in market shares or new competitive solutions that can influence future cash flow from the business units are taken into account in the impairment test. Risk Group management and Board of directors monitors and acts upon risk within the following areas: Strategic, operational, financial and sustainability/climate. Main assumptions in the impariment test are adjusted to reflect the risk environment that the Group operates within. Sensitivity analysis In connection with impairment tests of goodwill and intangible assets, sensitivity analyses are carried out. There will not be an impairment situation before relatively large changes in the key assumptions, and these changes are considered to be outside the reasonable outcome. Estimation uncertainty There will always be uncertainty related to the estimate of value in use. The assessments are based on key assumptions as described above, and are to a large degree influenced by market data for comparable companies, interest rates and other risk conditions. These calculations are based on discounted future cash flows, in which judgement was used as regards future profit and operation. Significant changes in the cash flows may affect the value of goodwill. ", "dimensions": { "concept": "ifrs-full:DisclosureOfIntangibleAssetsExplanatory", "language": "en", "entity": "scheme:5967007LIEEXZXISIG31", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00" } }, "fact-344": { "value": "Note 11: Intangible assets About StrongPoint Our WHY statement
Other intangible assets
2023
2022
(KNOK)
Technology
Brand
Customer
Software
Total
Technology
Brand
Customer
Software
Total
Acquisition costs 01.01
107,510
31,502
92,425
9,376
240,813
107,510
21,502
36,425
9,272
174,709
Acquired by aquisition
16,105
3,409
19,514
10,000
56,000
66,000
Investment
23,425
3,798
27,223
104
104
Acquisition costs 31.12
147,040
31,502
95,834
13,174
287,550
107,510
31,502
92,425
9,376
240,813
Accumulated impairments and depreciations 01.01
-105,655
-1,164
-42,632
-8,383
-157,834
-101,268
-
-35,344
-8,382
-144,994
Accumulated impairments and depreciations 31.12
-105,655
-3,371
-51,581
-8,390
-168,998
-105,655
-1,164
-42,632
-8,383
-157,834
Translation differences
-1,855
3,383
6,129
-883
6,774
-1,855
937
1,332
-890
-476
Book value 31.12
39,530
31,513
50,382
3,901
125,327
0
31,275
51,125
103
82,503
Depreciations of the year
-
-2,207
-8,949
-7
-11,163
-4,387
-1,164
-7,288
-1
-12,840
Impairment of the year
-
-
-
-
-
-
-
-
-
-
This year change in translation differences
-
2,446
4,792
7
7,245
-110
-735
-285
-
-1,130
Depreciation schedule
10 and 15
Impairment 1-7 4-7 10 and 15 Impairment 1-7 4-7
years test years years years test years years
Depreciation ratio
7-10%
14-100%
14-25%
7-10%
14-100%
14-25%
Key figures 2021-2023 CEO statement Company strategy People & organization 2023 Highlights Future of grocery retail AT A GLANCE Product segments Markets In 2023 there have been expensed KNOK 49,770 (KNOK 42,993 in 2022) in research and development costs. ESG Intangible assets regarding brand are related to CashGuard and ALS.
Goodwill StrongPoint StrongPoint StrongPoint StrongPoint Total Total
(KNOK)
StrongPoint AS
StrongPoint AB Technology AB Baltic S.L.U E-com AB ALS Hamari 2023 2022
Acquisition costs 01.01
15,976
2,612
81,127
23,318
4,431
25,889
38,268
191,620
153,352
Acquisition
2,914
2,914
38,268
Acquisition costs 31.12
15,976
2,612
81,127
23,318
4,431
25,889
38,268
2,914
194,535
191,620
Accumulated impairment and depreciations 01.01
-14,689
-229
-23,345
-38,263
-38,263
Accumulated impairment and depreciations 31.12
-14,689
-229
-23,345
-38,263
-38,263
Translation differences
10,012
3,102
1,133
743
3,063
18,054
6,561
Book value 31.12
1,286
2,383
91,139
3,075
5,564
26,632
41,331
2,914
174,325
159,918
Impairment of the year
This year change in translation differences
-
-
6,091
199
360
1,780
3,063
-
11,492
-2,991
Goodwill is not depreciated. Impairment tests are carried out every year. The impairment test per 31 December 2023 has been carried out with the segments Scandinavia and International incl. R&D as the cash generating units.
Goodwill (KNOK)
Acquired company
Cash generating unit
31.12.2023
31.12.2022
StrongPoint AS
Scandinavia
1,286
1,286
StrongPoint AB
Scandinavia
2,383
2,383
StrongPoint Technology AB
Scandinavia
91,139
85,048
StrongPoint UAB
International incl. R&D
3,075
2,877
StrongPoint S.L.U
International incl. R&D
5,564
5,205
StrongPoint E-com AB
Scandinavia
26,632
24,852
StrongPoint ALS
International incl. R&D
41,331
38,268
StrongPoint Hamari Oy
International incl. R&D
2,914
-
Total goodwill
174,325
159,918
Impairment test of goodwill and intangible assets with indefinite useful life Impairment tests are carried out in order to assess the prospects of each cash flow-generating unit based on value in use. Value in use is measured against net book value for the cash flow-generating entity. Key asumptions is a growth rate of 2.5% in net cash flow after five years of explicit plan and a WACC after tax of 10,18%. Climate change is considered not to have a significant impact and is taken into account in the cash flow. The brands are considered to be indefinite due to the Groups strategy for 2025 which contains a growth path for the brands, and confirms the value of the IP in the balance sheet, as long term future cashflow is expected. The Group has used value in use to determine recoverable amounts for the cash flow-generating entities. Value in use is determined by using the discounted cash flow method. The expected cash flow is based on the business areas\u2019 budgets and long term plans, which are approved by StrongPoint\u2019s executive management and the Board. Budgets and long term plans cover a five-year period (explicit prognosis period). Approved budgets and long term plans are adjusted for cash flows related to investments, future product improvements and new development, if the elements are considered significant for the impairment test. After the five years of explicit plans a terminal value is calculated based on 2.5% growth in net cash flow. To calculate value in use, the Group has used anticipated cash flows after tax and, correspondingly, discount rates after tax. The recoverable amount would not have been significantly different if cash flows before tax and the discount rate before tax had been used. The WACC after tax has been stipulated using an iterative method and is 10.18%. The assumptions are based on historical results and observable market data. Key assumptions Discount rate The discount rates are based on a weighted average cost of capital (WACC) method, whereby the cost of equity and the cost of liabilities are weighted according to an estimated capital structure. The discount rates reflect the market\u2019s required return on investment at the time of the test and in the industry to which the cash-generating unit belongs. The estimated capital structure is based on the average capital structure in the industry in which the cash generating unit operates and an assessment of what is a reasonable and prudent long term capital structure. The CAPM model is used to estimate the cost of equity. In accordance with the CAPM model, the cost of equity consists of risk-free interest as well as an individual risk premium. The risk premium is the entity\u2019s systematic risk (beta), multiplied by the market\u2019s risk premium. The risk-free interest is estimated on a 10-year Norwegian government bond interest rate and is based on all cash flows being translated to NOK. The cost of liabilities represents an expected long term after-tax interest rate for comparable liabilities and consists of risk-free interest and an interest spread. The pre tax discount rate is 12.82%. Profit margin (EBITDA) The profit margin is reviewed based on expectations of future development and historical performance. This gives the Group good prospects for order intake and is a solid basis for long term growth. Growth rate Growth rates in the explicit prognosis period are based on management\u2019s expectations of market trends. The Group uses stable growth rates to extrapolate cash flows in excess of five years. The long term growth rate beyond five years is not higher than the expected long term growth rate in the industry in which the undertaking operates within. Market shares and macro trends Group entities monitors competition environment and market shares on a detailed level, both in the local geography and from a product point of view. StrongPoint is a retail technology company and exposed to global changes within technology development, international competition, supply change and raw material distribution following political, climate or international trading challenges etc. Expected changes in market shares or new competitive solutions that can influence future cash flow from the business units are taken into account in the impairment test. Risk Group management and Board of directors monitors and acts upon risk within the following areas: Strategic, operational, financial and sustainability/climate. Main assumptions in the impariment test are adjusted to reflect the risk environment that the Group operates within. Sensitivity analysis In connection with impairment tests of goodwill and intangible assets, sensitivity analyses are carried out. There will not be an impairment situation before relatively large changes in the key assumptions, and these changes are considered to be outside the reasonable outcome. Estimation uncertainty There will always be uncertainty related to the estimate of value in use. The assessments are based on key assumptions as described above, and are to a large degree influenced by market data for comparable companies, interest rates and other risk conditions. These calculations are based on discounted future cash flows, in which judgement was used as regards future profit and operation. Significant changes in the cash flows may affect the value of goodwill. ", "dimensions": { "concept": "ifrs-full:DisclosureOfGoodwillExplanatory", "language": "en", "entity": "scheme:5967007LIEEXZXISIG31", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00" } }, "fact-354": { "value": "Note 11: Intangible assets
Other intangible assets
2023
2022
(KNOK)
Technology
Brand
Customer
Software
Total
Technology
Brand
Customer
Software
Total
Acquisition costs 01.01
107,510
31,502
92,425
9,376
240,813
107,510
21,502
36,425
9,272
174,709
Acquired by aquisition
16,105
3,409
19,514
10,000
56,000
66,000
Investment
23,425
3,798
27,223
104
104
Acquisition costs 31.12
147,040
31,502
95,834
13,174
287,550
107,510
31,502
92,425
9,376
240,813
Accumulated impairments and depreciations 01.01
-105,655
-1,164
-42,632
-8,383
-157,834
-101,268
-
-35,344
-8,382
-144,994
Accumulated impairments and depreciations 31.12
-105,655
-3,371
-51,581
-8,390
-168,998
-105,655
-1,164
-42,632
-8,383
-157,834
Translation differences
-1,855
3,383
6,129
-883
6,774
-1,855
937
1,332
-890
-476
Book value 31.12
39,530
31,513
50,382
3,901
125,327
0
31,275
51,125
103
82,503
Depreciations of the year
-
-2,207
-8,949
-7
-11,163
-4,387
-1,164
-7,288
-1
-12,840
Impairment of the year
-
-
-
-
-
-
-
-
-
-
This year change in translation differences
-
2,446
4,792
7
7,245
-110
-735
-285
-
-1,130
Depreciation schedule
10 and 15
Impairment 1-7 4-7 10 and 15 Impairment 1-7 4-7
years test years years years test years years
Depreciation ratio
7-10%
14-100%
14-25%
7-10%
14-100%
14-25%
In 2023 there have been expensed KNOK 49,770 (KNOK 42,993 in 2022) in research and development costs. Intangible assets regarding brand are related to CashGuard and ALS. ", "dimensions": { "concept": "ifrs-full:DisclosureOfResearchAndDevelopmentExpenseExplanatory", "language": "en", "entity": "scheme:5967007LIEEXZXISIG31", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00" } }, "fact-355": { "value": "Impairment test of goodwill and intangible assets with indefinite useful life Impairment tests are carried out in order to assess the prospects of each cash flow-generating unit based on value in use. Value in use is measured against net book value for the cash flow-generating entity. Key asumptions is a growth rate of 2.5% in net cash flow after five years of explicit plan and a WACC after tax of 10,18%. Climate change is considered not to have a significant impact and is taken into account in the cash flow. The brands are considered to be indefinite due to the Groups strategy for 2025 which contains a growth path for the brands, and confirms the value of the IP in the balance sheet, as long term future cashflow is expected. The Group has used value in use to determine recoverable amounts for the cash flow-generating entities. Value in use is determined by using the discounted cash flow method. The expected cash flow is based on the business areas\u2019 budgets and long term plans, which are approved by StrongPoint\u2019s executive management and the Board. Budgets and long term plans cover a five-year period (explicit prognosis period). Approved budgets and long term plans are adjusted for cash flows related to investments, future product improvements and new development, if the elements are considered significant for the impairment test. After the five years of explicit plans a terminal value is calculated based on 2.5% growth in net cash flow. To calculate value in use, the Group has used anticipated cash flows after tax and, correspondingly, discount rates after tax. The recoverable amount would not have been significantly different if cash flows before tax and the discount rate before tax had been used. The WACC after tax has been stipulated using an iterative method and is 10.18%. The assumptions are based on historical results and observable market data. Key assumptions Discount rate The discount rates are based on a weighted average cost of capital (WACC) method, whereby the cost of equity and the cost of liabilities are weighted according to an estimated capital structure. The discount rates reflect the market\u2019s required return on investment at the time of the test and in the industry to which the cash-generating unit belongs. The estimated capital structure is based on the average capital structure in the industry in which the cash generating unit operates and an assessment of what is a reasonable and prudent long term capital structure. The CAPM model is used to estimate the cost of equity. In accordance with the CAPM model, the cost of equity consists of risk-free interest as well as an individual risk premium. The risk premium is the entity\u2019s systematic risk (beta), multiplied by the market\u2019s risk premium. The risk-free interest is estimated on a 10-year Norwegian government bond interest rate and is based on all cash flows being translated to NOK. The cost of liabilities represents an expected long term after-tax interest rate for comparable liabilities and consists of risk-free interest and an interest spread. The pre tax discount rate is 12.82%. Profit margin (EBITDA) The profit margin is reviewed based on expectations of future development and historical performance. This gives the Group good prospects for order intake and is a solid basis for long term growth. Growth rate Growth rates in the explicit prognosis period are based on management\u2019s expectations of market trends. The Group uses stable growth rates to extrapolate cash flows in excess of five years. The long term growth rate beyond five years is not higher than the expected long term growth rate in the industry in which the undertaking operates within. Market shares and macro trends Group entities monitors competition environment and market shares on a detailed level, both in the local geography and from a product point of view. StrongPoint is a retail technology company and exposed to global changes within technology development, international competition, supply change and raw material distribution following political, climate or international trading challenges etc. Expected changes in market shares or new competitive solutions that can influence future cash flow from the business units are taken into account in the impairment test. Risk Group management and Board of directors monitors and acts upon risk within the following areas: Strategic, operational, financial and sustainability/climate. Main assumptions in the impariment test are adjusted to reflect the risk environment that the Group operates within. Sensitivity analysis In connection with impairment tests of goodwill and intangible assets, sensitivity analyses are carried out. There will not be an impairment situation before relatively large changes in the key assumptions, and these changes are considered to be outside the reasonable outcome. Estimation uncertainty There will always be uncertainty related to the estimate of value in use. The assessments are based on key assumptions as described above, and are to a large degree influenced by market data for comparable companies, interest rates and other risk conditions. These calculations are based on discounted future cash flows, in which judgement was used as regards future profit and operation. Significant changes in the cash flows may affect the value of goodwill. ", "dimensions": { "concept": "ifrs-full:DisclosureOfImpairmentOfAssetsExplanatory", "language": "en", "entity": "scheme:5967007LIEEXZXISIG31", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00" } }, "fact-365": { "value": "Key assumptions Discount rate The discount rates are based on a weighted average cost of capital (WACC) method, whereby the cost of equity and the cost of liabilities are weighted according to an estimated capital structure. The discount rates reflect the market\u2019s required return on investment at the time of the test and in the industry to which the cash-generating unit belongs. The estimated capital structure is based on the average capital structure in the industry in which the cash generating unit operates and an assessment of what is a reasonable and prudent long term capital structure. The CAPM model is used to estimate the cost of equity. In accordance with the CAPM model, the cost of equity consists of risk-free interest as well as an individual risk premium. The risk premium is the entity\u2019s systematic risk (beta), multiplied by the market\u2019s risk premium. The risk-free interest is estimated on a 10-year Norwegian government bond interest rate and is based on all cash flows being translated to NOK. The cost of liabilities represents an expected long term after-tax interest rate for comparable liabilities and consists of risk-free interest and an interest spread. The pre tax discount rate is 12.82%. Profit margin (EBITDA) The profit margin is reviewed based on expectations of future development and historical performance. This gives the Group good prospects for order intake and is a solid basis for long term growth. Growth rate Growth rates in the explicit prognosis period are based on management\u2019s expectations of market trends. The Group uses stable growth rates to extrapolate cash flows in excess of five years. The long term growth rate beyond five years is not higher than the expected long term growth rate in the industry in which the undertaking operates within. Market shares and macro trends Group entities monitors competition environment and market shares on a detailed level, both in the local geography and from a product point of view. StrongPoint is a retail technology company and exposed to global changes within technology development, international competition, supply change and raw material distribution following political, climate or international trading challenges etc. Expected changes in market shares or new competitive solutions that can influence future cash flow from the business units are taken into account in the impairment test. Risk Group management and Board of directors monitors and acts upon risk within the following areas: Strategic, operational, financial and sustainability/climate. Main assumptions in the impariment test are adjusted to reflect the risk environment that the Group operates within. Sensitivity analysis In connection with impairment tests of goodwill and intangible assets, sensitivity analyses are carried out. There will not be an impairment situation before relatively large changes in the key assumptions, and these changes are considered to be outside the reasonable outcome. Estimation uncertainty There will always be uncertainty related to the estimate of value in use. The assessments are based on key assumptions as described above, and are to a large degree influenced by market data for comparable companies, interest rates and other risk conditions. These calculations are based on discounted future cash flows, in which judgement was used as regards future profit and operation. Significant changes in the cash flows may affect the value of goodwill. Note 25: Estimation uncertainties When preparing the annual accounts in accordance with IFRS the company management has used estimates based on best judgement and assumptions that are considered to be realistic. Situations or changes in market conditions may occur that may lead to estimates being adjusted, thus affecting the company\u2019s assets, debts, equity and profit. The company\u2019s most significant accounting estimates are linked to the following items: \u2022 Business combinations \u2022 Impairment of intangible assets \u2022 Impairment assessment of goodwill \u2022 Recognition of deferred tax on balance sheet \u2022 Warranty provisions
StrongPoint must allocate the cost price of acquired entities to acquired assets and transferred debts
based on estimated fair value. Significant intangible assets that StrongPoint has recognized
includes customer contracts, customer base, brands, own technology and commitments in relation to
any royalty agreements entered into. Assumptions taken into account when valuing assets include,
but are not limited to, the replacement cost of fixed assets and fair value. The management\u2019s
estimates of fair value are based on assumptions that are considered to be reasonable, but that are
by nature uncertain. As a result the actual results may differ from the estimates. Depreciation periods
and amounts are given in note 11.
Management prepare a Key Audit Matter report to the Audit Committee at least every 6 months,
where major estimates are discussed and agreed.
Goodwill and brands as stated on the balance sheet are evaluated for impairment whenever there
are indications of impairment, at least annually. The valuation is based on value in use when
discounting expected future cash flows. The valuation is carried out with starting points in next year\u2019s
budget and in a forecast for the next four years. Next, a terminal value is calculated based on 2.5%
growth in net cash flow. The most sensitive assumption used in the estimates is that of future turnover
growth, but EBITDA and discount rate are also important. The assumptions and sensitivity analysis
are detailed in note 11.
The management has used estimates and assessments when making provisions for obsolete stock
and future warranty costs. The provisions have been made with basis in a historical assessment of
provision requirements, past figures for returns and under-warranty repairs and the age distribution of
stock. Further details are provided in note 12 for stock and note 27 for warranty provisions.
", "dimensions": { "concept": "ifrs-full:DisclosureOfAccountingJudgementsAndEstimatesExplanatory", "language": "en", "entity": "scheme:5967007LIEEXZXISIG31", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00" } }, "fact-297": { "value": "Note 12: Inventories
Inventories (KNOK)
2023
2022
Inventories
241,050
242,540
Provision for obsolete stock
-10,626
-10,416
Total
230,424
232,124
Inventories are measured at the lower of cost and net realisable value. The stock is pledged as security for loans, see note 15.
Provision for obsolete stock (KNOK)
2023
2022
Provision for obsolete stock, opening balance
-10,416
-11,326
Taken to income/charged to expense (-) change in provision
-210
910
Provision for obsolete stock, closing balance
-10,626
-10,416
The cost of goods sold of KNOK 805,266 includes direct costs of goods with KNOK 518,610.", "dimensions": { "concept": "ifrs-full:DisclosureOfInventoriesExplanatory", "language": "en", "entity": "scheme:5967007LIEEXZXISIG31", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00" } }, "fact-298": { "value": "Note 13: Other receivables
Short term receivables (KNOK)
2023
2022
Accounts receivables
240,790
274,348
Prepaid expenses
22,032
25,731
Other receivables
14,955
16,265
Total short term receivables 31.12
277,777
316,344
Other receivables included MNOK 4.6 in expected government grants (Skattefunn) refunds for development costs in 2023 (MNOK 4.4). This was booked as reduction of other operating expenses.
Changes in provision for bad debts (KNOK)
2023
2022
01.01
6,027
6,981
Acquisition
-
138
Applied provisions
-676
-1,145
Reversed provisions
-594
-2,119
New provision for bad debt
2,486
2,173
Total 31.12
7,243
6,027
The provisions per 31.12.2023 are not directly related to individual customers. Losses on bad debts are classified as other operating expenses in the income statement.
Aging of accounts receivables (KNOK)
2023
2022
Not due
154,583
206,384
0-3 months
85,025
67,414
3-6 months
1,182
550
Total 31.12
240,790
274,348
Long term receivables (KNOK)
2023
2022
Loan to Joint venture company in Spain
-
13,668
Deposit rented offices
1,372
1,479
Total long term receivables 31.12
1,372
15,147
", "dimensions": { "concept": "ifrs-full:DisclosureOfTradeAndOtherReceivablesExplanatory", "language": "en", "entity": "scheme:5967007LIEEXZXISIG31", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00" } }, "fact-331": { "value": "
The cost of goods sold of KNOK 805,266 includes direct costs of goods with KNOK 518,610.
", "dimensions": { "concept": "ifrs-full:DisclosureOfCostOfSalesExplanatory", "language": "en", "entity": "scheme:5967007LIEEXZXISIG31", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00" } }, "fact-299": { "value": "Note 14: Cash and cash equivalents
KNOK
2023
2022
Cash and bank deposits
39,340
47,248
Overdraft
94,153
22,137
Unused overdraft facilities
55,847
77,863
The Group had liquid assets (bank deposits and unused overdraft facilities) of MNOK 95.2 per 31.12.2023 (2022: MNOK 125.1). KNOK 2,865 are restricted funds pr. 31.12.2023 (2022: KNOK 2,611). The Group has a cash pool arrangement allowing efficient distribution of cash between the different business units, and can withdraw up to MNOK 150 from the Group\u2019s overdraft facility if necessary to cover short term liquidity needs.", "dimensions": { "concept": "ifrs-full:DisclosureOfCashAndCashEquivalentsExplanatory", "language": "en", "entity": "scheme:5967007LIEEXZXISIG31", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00" } }, "fact-332": { "value": "Note 14: Cash and cash equivalents
KNOK
2023
2022
Cash and bank deposits
39,340
47,248
Overdraft
94,153
22,137
Unused overdraft facilities
55,847
77,863
The Group had liquid assets (bank deposits and unused overdraft facilities) of MNOK 95.2 per 31.12.2023 (2022: MNOK 125.1). KNOK 2,865 are restricted funds pr. 31.12.2023 (2022: KNOK 2,611). The Group has a cash pool arrangement allowing efficient distribution of cash between the different business units, and can withdraw up to MNOK 150 from the Group\u2019s overdraft facility if necessary to cover short term liquidity needs.", "dimensions": { "concept": "ifrs-full:DisclosureOfRestrictedCashAndCashEquivalentsExplanatory", "language": "en", "entity": "scheme:5967007LIEEXZXISIG31", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00" } }, "fact-300": { "value": "Note 15: Interest-bearing debt and secured debt Debt per 31.12. and specification of terms. Figures in KNOK
Type of loan
2023
2022
Borrowing terms
Average nominal interest for 2023
Multi-currency, group credit account
94,153
22,137
Overdraft limit MNOK 150, not time limited
5.13%
Long term loan
8,646
11,455
Quarterly repayments
1.72%
Short term debt
4,299
4,165
Repayment in 2024
2.6%-7.99%
Financial leasing
13,002
12,159
Monthly and quarterly payments
Total interest-bearing debt
120,100
49,915
IFRS 16 office rent liabilities
84,827
69,044
Total interest-bearing debt and IFRS 16 rent liabilities
204,927
118,960
1 1) The Groups\u2019 main bank connection has loan covenants in relation to the ratio between NIBD/EBITDA. The loan agreements are measured on a quarterly basis. See note 17 for more information. All loans are secured. Distribution of long term and short term debts:
KNOK
2023
2022
Bank overdraft
94,153
22,137
Current interest-bearing liabilities
22,278
29,310
Due after one year
88,496
67,513
Total interest-bearing debt and IFRS 16 rent liabilities
204,927
118,960
Pledged assets per 31.12 and book value:
Asset
31.12.2023
31.12.2022
Operating equipment and inventories for StrongPoint AS
100,960
115,442
Lien over F\u00f6retagsinnteckning StrongPoint AB
117,711
109,844
Co-surety Norway, Sweden, the Baltics and UK *
150,000
135,000
1 1) F\u00f6retagsinnteckning is equivalent to a priority lien over the company\u2019s assets. * The foreign companies liabilities are limited to the amount the guarantor at any time has drawn. Change in liabilities arising from financing activities:
New Currency
KNOK 31.12.2022 CashFlow contracts differenses 31.12.2023
Interest-bearing liabilities
37,757
75,553
-
-6,212
107,097
Lease liabilities
81,203
-24,444
32,713
8,357
97,829
Total
118,960
51,109
32,713
2,145
204,927
New Currency
KNOK 31.12.2021 CashFlow contracts differenses 31.12.2022
Interest-bearing liabilities
16,004
16,897
-
4,855
37,757
Lease liabilities
42,058
-19,503
58,694
-46
81,203
Total
58,062
-2,605
58,694
4,809
118,960
", "dimensions": { "concept": "ifrs-full:DisclosureOfBorrowingsExplanatory", "language": "en", "entity": "scheme:5967007LIEEXZXISIG31", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00" } }, "fact-301": { "value": "Note 16: Leasing commitments Tenancy agreements on premises has a lease-term of 1.5 - 10 years. Annual payment for these premises is approx. KNOK 20,616. Leasing contracts on vehicles has a lease-term of 1 - 6 years. Annual payment is approx. KNOK 6,108. Leasing contracts on inventory (copy machines, coffee machines etc.) has a lease-term of 1 - 3 years. Annual payment is approx. KNOK 254. The numbers above includes approximately MNOK 1 as leasing expenses in the P&L regarding contracts with a lifetime of less than one year and a value of less than KNOK 100. These contracts are not booked as leasing commitments in the balance sheet.
Future minimum rent for the leasing The present value of
contracts per 31.12 is as follows: future payments
KNOK
2023
2022
2023
Within one year
26,979
24,164
23,770
After one year, but within five years
66,130
53,504
44,539
After more than five years
17,307
20,854
8,096
Total
110,417
98,522
76,405
In 2023 the present value of the lease payments has been calculated based on the lessee\u2019s incremental borrowing rate. The discount rate is 13.5%, included an risk premium of 9.5% business risk and 4.0% risk free. The carrying value of leasing are included in note 10.", "dimensions": { "concept": "ifrs-full:DisclosureOfLeasesExplanatory", "language": "en", "entity": "scheme:5967007LIEEXZXISIG31", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00" } }, "fact-302": { "value": "Note 17: Financial instruments Financial risks StrongPoint\u2019s activities expose the group to exchange rate-, interest-, credit- and liquidity risks. (i) Credit risks The Group\u2019s credit risk is related to the sale of goods and services on credit. The Group has established guidelines to ensure that sales are only made to customers who have not had significant payment problems earlier and that the outstanding amount do not exceed credit limits. Guidelines are implemented to prevent the company\u2019s risk associated with loans and guarantees related to employees and customers. Per 31.12.2023 the Group had KNOK 240,790 in outstanding accounts receivables. Of this KNOK 86,207 were overdue, traditionally most of the overdue amount are paid a few days after period end. The Group has historically had a low rate of loss on receivables. This year\u2019s expenses in relation to bad debts amounting to a revenue of KNOK 797, including realized losses and changes in the provision for bad debts.
KNOK
2023
2022
Total interest-bearing debt
120,100
49,915
Cash
39,340
47,248
Net interest-bearing debt
80,760
2,668
Total capital adjusted for Goodwill
840,858
825,722
Debt ratio
10%
0%
(ii) Interest rate risk The company\u2019s interest-bearing debt increased in 2023. The interest risk is measured by the group treasury department by simulating the effect of a change in interest rates. The simulation illustrates the cash effect of a change in interest rates given the loan size and the level of any existing interest rate hedging. The results from the simulation are used to support decisions concerning the possible conclusion of fixed-rate contracts. In addition, the fact that interest rates usually move opposite to the general economic development, and that floating rates within certain limits can help to stabilize the group\u2019s results. As a result of this the group\u2019s interest-bearing debt has a floating interest rate at year-end. It has not been used fixed rate contracts or other hedging instruments in 2023 or 2022. Based on the financial instruments in existence as of 31 December 2023, a general increase in interest rates of two per cent will reduce pre-tax profits by KNOK 2,226. Overview of maturity structures of financial liabilities:
Balance sheet 0-6 6-12 1-2 2-3 more than 3
KNOK amount months months year year years Undefined
Secured loans (long and short term interest-bearing debt)
12,910
5,802
2,125
3,726
1,256
-
-
Secured loans, interest
IA
114
56
54
11
IA
-
Overdraft (short term interest-bearing debt) \u00b9
94,153
-
-
-
-
-
94,153
Overdraft, interest
IA
-
-
-
-
IA
-
Leasing (long term and short term debt)
97,829
7,207
7,109
16,806
15,061
51,646
-
Leasing, interest
IA
2,090
2,068
3,371
2,618
IA
-
Other long term debt
1,848
1,848
-
Accounts payable
156,622
156,622
-
-
-
-
-
Net liabilities financial instruments
363,362
171,835
11,358
25,805
18,947
51,646
94,153
1) The overdraft contract with Danske Bank runs until renegotiated by either party. The payment of financial obligations is intended to be covered by the payment of accounts receivable, sale of goods and services, and available cash and available credit facilities. (iv) Currency risks The Company has no material debt or bank deposits in foreign currency, except Euro, GBP, Norwegian and Swedish kroner. The main exposure to foreign currency derived from accounts payable and accounts receivable in connection with the purchase and sale of goods in foreign currency, and contracts where the sales price is determined in a currency other than the cost of goods sold. The Group is mainly exposed to fluctuations in the price of goods bought in foreign currencies, primarily in SEK, USD, EUR and GBP, and sale of goods in EUR. The company do not normally use forward contracts to hedge this exposure. Large currency fluctuations are compensated by contracted agreement allowing adjusted sales prices accordingly. (v) Financial investments Excess liquidity is placed in the Group\u2019s cashpool to reduce its short term interest-bearing debt. The company uses a small degree of financial investments. A change of 10% exchange rate per 31 December 2023 would have resulted in the following effects on the profit in the group;
Sensitivity currency exposure;
KNOK
SEK weakened by 10% against EUR
1
SEK weakened by 10% against GBP
-
SEK weakened by 10% against USD
67
NOK weakened by 10% against SEK
231
NOK weakened by 10% against EUR
180
NOK weakened by 10% against GBP
73
NOK weakened by 10% against USD
2,856
(vi) Capital structure The Board aims to maintain a strong capital base in order to retain the trust of shareholders, creditors and the market in order to continually develop the company. The Board want to create a balance between higher return, which is made possible by higher borrowing levels, and the benefits and security provided by a solid equity. The Board aims to ensure that StrongPoint shareholders will over time gain a competitive return on their investment through a combination of cash dividends and increased value of their shares. In determining the annual dividend, the Board will take into account the expected cash flow, investments in organic growth, plans for growth through mergers and acquisitions, and the need for adequate financial flexibility. The level of net debt is measured in terms of cash flow. (viii) Fair value measurement The following table provides the fair value measurement hierarchy of the Group\u2019s assets and liabilities.
Fair value measurement using
Significant
unobservable
Date of valuation Total inputs (Level 3)
Assets measured at fair value:
Financial assets
Cash
31 December 2023
39,340
39,340
Accounts receivable
31 December 2023
240,790
240,790
Other long term investments
31 December 2023
4,001
4,001
Financial debts
Accounts payable
31 December 2023
-159,690
-156,622
Bank loans
31 December 2023
-12,944
-12,944
Due to their short term nature, the carrying value of current financial assets and liabilities is deemed as reasonable approximation to the fair value of the financial assets and liabilities. As such, the carrying amount is considered not to be significantly different from the fair value. Based on characteristics of the financial instruments recognized in the consolidated financial statements, these have been grouped in classes and categories as described below. The estimated fair value corresponds substantially carrying value. Other long term investments are classified as equity instruments designated at fair value, according to IFRS 9. The balance sheet value of cash and cash equivalents and overdrafts is approximate to the fair value as these instruments have a short expiry period. Similarly, the balance sheet value of accounts receivables and accounts payable is approximate to the fair value as they are agreed on \u201cordinary\u201d terms. Book value of debt is deemed to be equivalent to market value, since the company should be able to refinance the loan at the same rate in the market. The average effective rate of interest on financial instruments was as follows:
2023
2022
Bank overdraft
5.13%
2.98%
Short term loans
5.30%
4.19%
Long term loans
1.72%
1.72%
The interest rate on overdraft are based on 1 month NIBOR for the draft in NOK, 1 month DANBOR SEK and 1 month DANBOR EUR for the other currencies. The interest rate on the largest long term loan are fixed until 2026. The interest rate on the smaller loans is determined quarterly. See note 15 for information about long term loans and note 16 for information about liabilities in relation to financial leasing agreements. An increase of 1% in the interest rate per 31 December 2023 would have resulted in the following effects on the profit in the group;
Sensitivity currency exposure;
KNOK
Bank overdraft
-942
Short term loans
-43
Long term loans
-86
Leasing
-130
(iii) Liquidity risk The Group manages liquidity risk by monitoring the expected future cash from operations and available cash and credit facilities are adequate to serve the operational and financial obligations. This is done by preparing cash flow forecasts 12 months ahead, and detailed monthly cash monitoring, based on different outcomes in turnover and product mix. Capital tied up in the individual business units are supervised, focusing on inventory, accounts receivable, financing and accounts payable. The group\u2019s strategy is to have sufficient cash, cash equivalents or credit facilities available at any time to be able to finance operations and investments for the next 6 months. Excess liquidity is mainly located in the Groups Cash Pool which is netted against overdraft. Unused credit facilities are described in note 14. The loan agreement with the main financial institution has a claim (covenant) in which the ratio of net interest-bearing debt and moving 12-month earnings before depreciation (EBITDA) shall not exceed 3.5. This is measured quarterly. The company met this requirement in 2022 (0.04) but not in 2023. Net interest-bearing debt increased by MNOK 78.1 during 2023. This combined with the EBITDA of MNOK -1.3 (MNOK 75.5 in 2022) would have been a covenant breach based on the current reporting structure, mainly due to the Q4 2023 EBITDA. However, due to the close relationship with our primary bank, they have agreed to postpone the next covenant reporting until the Q3 2024 financial statements have been completed. Starting from Q3 2024 and going forward, the quarterly EBITDA will be added and annualized as the basis for the covenant reporting. ", "dimensions": { "concept": "ifrs-full:DisclosureOfFinancialInstrumentsExplanatory", "language": "en", "entity": "scheme:5967007LIEEXZXISIG31", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00" } }, "fact-333": { "value": "Note 17: Financial instruments Financial risks StrongPoint\u2019s activities expose the group to exchange rate-, interest-, credit- and liquidity risks. (i) Credit risks The Group\u2019s credit risk is related to the sale of goods and services on credit. The Group has established guidelines to ensure that sales are only made to customers who have not had significant payment problems earlier and that the outstanding amount do not exceed credit limits. Guidelines are implemented to prevent the company\u2019s risk associated with loans and guarantees related to employees and customers. Per 31.12.2023 the Group had KNOK 240,790 in outstanding accounts receivables. Of this KNOK 86,207 were overdue, traditionally most of the overdue amount are paid a few days after period end. The Group has historically had a low rate of loss on receivables. This year\u2019s expenses in relation to bad debts amounting to a revenue of KNOK 797, including realized losses and changes in the provision for bad debts.
KNOK
2023
2022
Total interest-bearing debt
120,100
49,915
Cash
39,340
47,248
Net interest-bearing debt
80,760
2,668
Total capital adjusted for Goodwill
840,858
825,722
Debt ratio
10%
0%
(ii) Interest rate risk The company\u2019s interest-bearing debt increased in 2023. The interest risk is measured by the group treasury department by simulating the effect of a change in interest rates. The simulation illustrates the cash effect of a change in interest rates given the loan size and the level of any existing interest rate hedging. The results from the simulation are used to support decisions concerning the possible conclusion of fixed-rate contracts. In addition, the fact that interest rates usually move opposite to the general economic development, and that floating rates within certain limits can help to stabilize the group\u2019s results. As a result of this the group\u2019s interest-bearing debt has a floating interest rate at year-end. It has not been used fixed rate contracts or other hedging instruments in 2023 or 2022. Based on the financial instruments in existence as of 31 December 2023, a general increase in interest rates of two per cent will reduce pre-tax profits by KNOK 2,226. Overview of maturity structures of financial liabilities:
Balance sheet 0-6 6-12 1-2 2-3 more than 3
KNOK amount months months year year years Undefined
Secured loans (long and short term interest-bearing debt)
12,910
5,802
2,125
3,726
1,256
-
-
Secured loans, interest
IA
114
56
54
11
IA
-
Overdraft (short term interest-bearing debt) \u00b9
94,153
-
-
-
-
-
94,153
Overdraft, interest
IA
-
-
-
-
IA
-
Leasing (long term and short term debt)
97,829
7,207
7,109
16,806
15,061
51,646
-
Leasing, interest
IA
2,090
2,068
3,371
2,618
IA
-
Other long term debt
1,848
1,848
-
Accounts payable
156,622
156,622
-
-
-
-
-
Net liabilities financial instruments
363,362
171,835
11,358
25,805
18,947
51,646
94,153
1) The overdraft contract with Danske Bank runs until renegotiated by either party. The payment of financial obligations is intended to be covered by the payment of accounts receivable, sale of goods and services, and available cash and available credit facilities. (iv) Currency risks The Company has no material debt or bank deposits in foreign currency, except Euro, GBP, Norwegian and Swedish kroner. The main exposure to foreign currency derived from accounts payable and accounts receivable in connection with the purchase and sale of goods in foreign currency, and contracts where the sales price is determined in a currency other than the cost of goods sold. The Group is mainly exposed to fluctuations in the price of goods bought in foreign currencies, primarily in SEK, USD, EUR and GBP, and sale of goods in EUR. The company do not normally use forward contracts to hedge this exposure. Large currency fluctuations are compensated by contracted agreement allowing adjusted sales prices accordingly. (v) Financial investments Excess liquidity is placed in the Group\u2019s cashpool to reduce its short term interest-bearing debt. The company uses a small degree of financial investments. A change of 10% exchange rate per 31 December 2023 would have resulted in the following effects on the profit in the group;
Sensitivity currency exposure;
KNOK
SEK weakened by 10% against EUR
1
SEK weakened by 10% against GBP
-
SEK weakened by 10% against USD
67
NOK weakened by 10% against SEK
231
NOK weakened by 10% against EUR
180
NOK weakened by 10% against GBP
73
NOK weakened by 10% against USD
2,856
(vi) Capital structure The Board aims to maintain a strong capital base in order to retain the trust of shareholders, creditors and the market in order to continually develop the company. The Board want to create a balance between higher return, which is made possible by higher borrowing levels, and the benefits and security provided by a solid equity. The Board aims to ensure that StrongPoint shareholders will over time gain a competitive return on their investment through a combination of cash dividends and increased value of their shares. In determining the annual dividend, the Board will take into account the expected cash flow, investments in organic growth, plans for growth through mergers and acquisitions, and the need for adequate financial flexibility. The level of net debt is measured in terms of cash flow. (viii) Fair value measurement The following table provides the fair value measurement hierarchy of the Group\u2019s assets and liabilities.
Fair value measurement using
Significant
unobservable
Date of valuation Total inputs (Level 3)
Assets measured at fair value:
Financial assets
Cash
31 December 2023
39,340
39,340
Accounts receivable
31 December 2023
240,790
240,790
Other long term investments
31 December 2023
4,001
4,001
Financial debts
Accounts payable
31 December 2023
-159,690
-156,622
Bank loans
31 December 2023
-12,944
-12,944
Due to their short term nature, the carrying value of current financial assets and liabilities is deemed as reasonable approximation to the fair value of the financial assets and liabilities. As such, the carrying amount is considered not to be significantly different from the fair value. Based on characteristics of the financial instruments recognized in the consolidated financial statements, these have been grouped in classes and categories as described below. The estimated fair value corresponds substantially carrying value. Other long term investments are classified as equity instruments designated at fair value, according to IFRS 9. The balance sheet value of cash and cash equivalents and overdrafts is approximate to the fair value as these instruments have a short expiry period. Similarly, the balance sheet value of accounts receivables and accounts payable is approximate to the fair value as they are agreed on \u201cordinary\u201d terms. Book value of debt is deemed to be equivalent to market value, since the company should be able to refinance the loan at the same rate in the market. The average effective rate of interest on financial instruments was as follows:
2023
2022
Bank overdraft
5.13%
2.98%
Short term loans
5.30%
4.19%
Long term loans
1.72%
1.72%
The interest rate on overdraft are based on 1 month NIBOR for the draft in NOK, 1 month DANBOR SEK and 1 month DANBOR EUR for the other currencies. The interest rate on the largest long term loan are fixed until 2026. The interest rate on the smaller loans is determined quarterly. See note 15 for information about long term loans and note 16 for information about liabilities in relation to financial leasing agreements. An increase of 1% in the interest rate per 31 December 2023 would have resulted in the following effects on the profit in the group;
Sensitivity currency exposure;
KNOK
Bank overdraft
-942
Short term loans
-43
Long term loans
-86
Leasing
-130
(iii) Liquidity risk The Group manages liquidity risk by monitoring the expected future cash from operations and available cash and credit facilities are adequate to serve the operational and financial obligations. This is done by preparing cash flow forecasts 12 months ahead, and detailed monthly cash monitoring, based on different outcomes in turnover and product mix. Capital tied up in the individual business units are supervised, focusing on inventory, accounts receivable, financing and accounts payable. The group\u2019s strategy is to have sufficient cash, cash equivalents or credit facilities available at any time to be able to finance operations and investments for the next 6 months. Excess liquidity is mainly located in the Groups Cash Pool which is netted against overdraft. Unused credit facilities are described in note 14. The loan agreement with the main financial institution has a claim (covenant) in which the ratio of net interest-bearing debt and moving 12-month earnings before depreciation (EBITDA) shall not exceed 3.5. This is measured quarterly. The company met this requirement in 2022 (0.04) but not in 2023. Net interest-bearing debt increased by MNOK 78.1 during 2023. This combined with the EBITDA of MNOK -1.3 (MNOK 75.5 in 2022) would have been a covenant breach based on the current reporting structure, mainly due to the Q4 2023 EBITDA. However, due to the close relationship with our primary bank, they have agreed to postpone the next covenant reporting until the Q3 2024 financial statements have been completed. Starting from Q3 2024 and going forward, the quarterly EBITDA will be added and annualized as the basis for the covenant reporting. ", "dimensions": { "concept": "ifrs-full:DisclosureOfFinancialRiskManagementExplanatory", "language": "en", "entity": "scheme:5967007LIEEXZXISIG31", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00" } }, "fact-345": { "value": "(i) Credit risks The Group\u2019s credit risk is related to the sale of goods and services on credit. The Group has established guidelines to ensure that sales are only made to customers who have not had significant payment problems earlier and that the outstanding amount do not exceed credit limits. Guidelines are implemented to prevent the company\u2019s risk associated with loans and guarantees related to employees and customers. Per 31.12.2023 the Group had KNOK 240,790 in outstanding accounts receivables. Of this KNOK 86,207 were overdue, traditionally most of the overdue amount are paid a few days after period end. The Group has historically had a low rate of loss on receivables. This year\u2019s expenses in relation to bad debts amounting to a revenue of KNOK 797, including realized losses and changes in the provision for bad debts.
KNOK
2023
2022
Total interest-bearing debt
120,100
49,915
Cash
39,340
47,248
Net interest-bearing debt
80,760
2,668
Total capital adjusted for Goodwill
840,858
825,722
Debt ratio
10%
0%
", "dimensions": { "concept": "ifrs-full:DisclosureOfCreditRiskExplanatory", "language": "en", "entity": "scheme:5967007LIEEXZXISIG31", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00" } }, "fact-347": { "value": "(iii) Liquidity risk The Group manages liquidity risk by monitoring the expected future cash from operations and available cash and credit facilities are adequate to serve the operational and financial obligations. This is done by preparing cash flow forecasts 12 months ahead, and detailed monthly cash monitoring, based on different outcomes in turnover and product mix. Capital tied up in the individual business units are supervised, focusing on inventory, accounts receivable, financing and accounts payable. The group\u2019s strategy is to have sufficient cash, cash equivalents or credit facilities available at any time to be able to finance operations and investments for the next 6 months. Excess liquidity is mainly located in the Groups Cash Pool which is netted against overdraft. Unused credit facilities are described in note 14. The loan agreement with the main financial institution has a claim (covenant) in which the ratio of net interest-bearing debt and moving 12-month earnings before depreciation (EBITDA) shall not exceed 3.5. This is measured quarterly. The company met this requirement in 2022 (0.04) but not in 2023. Net interest-bearing debt increased by MNOK 78.1 during 2023. This combined with the EBITDA of MNOK -1.3 (MNOK 75.5 in 2022) would have been a covenant breach based on the current reporting structure, mainly due to the Q4 2023 EBITDA. However, due to the close relationship with our primary bank, they have agreed to postpone the next covenant reporting until the Q3 2024 financial statements have been completed. Starting from Q3 2024 and going forward, the quarterly EBITDA will be added and annualized as the basis for the covenant reporting. Overview of maturity structures of financial liabilities:
Balance sheet 0-6 6-12 1-2 2-3 more than 3
KNOK amount months months year year years Undefined
Secured loans (long and short term interest-bearing debt)
12,910
5,802
2,125
3,726
1,256
-
-
Secured loans, interest
IA
114
56
54
11
IA
-
Overdraft (short term interest-bearing debt) \u00b9
94,153
-
-
-
-
-
94,153
Overdraft, interest
IA
-
-
-
-
IA
-
Leasing (long term and short term debt)
97,829
7,207
7,109
16,806
15,061
51,646
-
Leasing, interest
IA
2,090
2,068
3,371
2,618
IA
-
Other long term debt
1,848
1,848
-
Accounts payable
156,622
156,622
-
-
-
-
-
Net liabilities financial instruments
363,362
171,835
11,358
25,805
18,947
51,646
94,153
1) The overdraft contract with Danske Bank runs until renegotiated by either party. The payment of financial obligations is intended to be covered by the payment of accounts receivable, sale of goods and services, and available cash and available credit facilities. ", "dimensions": { "concept": "ifrs-full:DisclosureOfLiquidityRiskExplanatory", "language": "en", "entity": "scheme:5967007LIEEXZXISIG31", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00" } }, "fact-346": { "value": "(ii) Interest rate risk The company\u2019s interest-bearing debt increased in 2023. The interest risk is measured by the group treasury department by simulating the effect of a change in interest rates. The simulation illustrates the cash effect of a change in interest rates given the loan size and the level of any existing interest rate hedging. The results from the simulation are used to support decisions concerning the possible conclusion of fixed-rate contracts. In addition, the fact that interest rates usually move opposite to the general economic development, and that floating rates within certain limits can help to stabilize the group\u2019s results. As a result of this the group\u2019s interest-bearing debt has a floating interest rate at year-end. It has not been used fixed rate contracts or other hedging instruments in 2023 or 2022. Based on the financial instruments in existence as of 31 December 2023, a general increase in interest rates of two per cent will reduce pre-tax profits by KNOK 2,226. The average effective rate of interest on financial instruments was as follows:
2023
2022
Bank overdraft
5.13%
2.98%
Short term loans
5.30%
4.19%
Long term loans
1.72%
1.72%
The interest rate on overdraft are based on 1 month NIBOR for the draft in NOK, 1 month DANBOR SEK and 1 month DANBOR EUR for the other currencies. The interest rate on the largest long term loan are fixed until 2026. The interest rate on the smaller loans is determined quarterly. See note 15 for information about long term loans and note 16 for information about liabilities in relation to financial leasing agreements. An increase of 1% in the interest rate per 31 December 2023 would have resulted in the following effects on the profit in the group;
Sensitivity currency exposure;
KNOK
Bank overdraft
-942
Short term loans
-43
Long term loans
-86
Leasing
-130
", "dimensions": { "concept": "ifrs-full:DisclosureOfMarketRiskExplanatory", "language": "en", "entity": "scheme:5967007LIEEXZXISIG31", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00" } }, "fact-356": { "value": "(ii) Interest rate risk The company\u2019s interest-bearing debt increased in 2023. The interest risk is measured by the group treasury department by simulating the effect of a change in interest rates. The simulation illustrates the cash effect of a change in interest rates given the loan size and the level of any existing interest rate hedging. The results from the simulation are used to support decisions concerning the possible conclusion of fixed-rate contracts. In addition, the fact that interest rates usually move opposite to the general economic development, and that floating rates within certain limits can help to stabilize the group\u2019s results. As a result of this the group\u2019s interest-bearing debt has a floating interest rate at year-end. It has not been used fixed rate contracts or other hedging instruments in 2023 or 2022. Based on the financial instruments in existence as of 31 December 2023, a general increase in interest rates of two per cent will reduce pre-tax profits by KNOK 2,226. Overview of maturity structures of financial liabilities:
Balance sheet 0-6 6-12 1-2 2-3 more than 3
KNOK amount months months year year years Undefined
Secured loans (long and short term interest-bearing debt)
12,910
5,802
2,125
3,726
1,256
-
-
Secured loans, interest
IA
114
56
54
11
IA
-
Overdraft (short term interest-bearing debt) \u00b9
94,153
-
-
-
-
-
94,153
Overdraft, interest
IA
-
-
-
-
IA
-
Leasing (long term and short term debt)
97,829
7,207
7,109
16,806
15,061
51,646
-
Leasing, interest
IA
2,090
2,068
3,371
2,618
IA
-
Other long term debt
1,848
1,848
-
Accounts payable
156,622
156,622
-
-
-
-
-
Net liabilities financial instruments
363,362
171,835
11,358
25,805
18,947
51,646
94,153
1) The overdraft contract with Danske Bank runs until renegotiated by either party. The payment of financial obligations is intended to be covered by the payment of accounts receivable, sale of goods and services, and available cash and available credit facilities. The average effective rate of interest on financial instruments was as follows:
2023
2022
Bank overdraft
5.13%
2.98%
Short term loans
5.30%
4.19%
Long term loans
1.72%
1.72%
The interest rate on overdraft are based on 1 month NIBOR for the draft in NOK, 1 month DANBOR SEK and 1 month DANBOR EUR for the other currencies. The interest rate on the largest long term loan are fixed until 2026. The interest rate on the smaller loans is determined quarterly. See note 15 for information about long term loans and note 16 for information about liabilities in relation to financial leasing agreements. An increase of 1% in the interest rate per 31 December 2023 would have resulted in the following effects on the profit in the group;
Sensitivity currency exposure;
KNOK
Bank overdraft
-942
Short term loans
-43
Long term loans
-86
Leasing
-130
", "dimensions": { "concept": "ifrs-full:DisclosureOfFinancialLiabilitiesExplanatory", "language": "en", "entity": "scheme:5967007LIEEXZXISIG31", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00" } }, "fact-357": { "value": "(vi) Capital structure The Board aims to maintain a strong capital base in order to retain the trust of shareholders, creditors and the market in order to continually develop the company. The Board want to create a balance between higher return, which is made possible by higher borrowing levels, and the benefits and security provided by a solid equity. The Board aims to ensure that StrongPoint shareholders will over time gain a competitive return on their investment through a combination of cash dividends and increased value of their shares. In determining the annual dividend, the Board will take into account the expected cash flow, investments in organic growth, plans for growth through mergers and acquisitions, and the need for adequate financial flexibility. The level of net debt is measured in terms of cash flow. ", "dimensions": { "concept": "ifrs-full:DisclosureOfObjectivesPoliciesAndProcessesForManagingCapitalExplanatory", "language": "en", "entity": "scheme:5967007LIEEXZXISIG31", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00" } }, "fact-303": { "value": "Note 18: Transactions with related parties Transactions with Board members and employees There have been no transactions with Board members and employees in 2023. Transactions with associated companies The group carried out a number of transactions with Spok AS in 2023 and 2022. All transactions were carried out as part of its ordinary activities and at ordinary business conditions.
2023
2022
KNOK
Sale
Purchase
Sale
Purchase
Spok AS
345
3,433
290
3,628
The balance includes the following amounts resulting from transactions with the associated company:
2023
2022
KNOK
Receivables
Debt
Receivables
Debt
Spok AS
-
274
-
7
StrongPoint Cash Tech S.L. (became a
subsidiary in 2023)
-
-
13,668
-
The Group has no other binding future transactions with related parties.", "dimensions": { "concept": "ifrs-full:DisclosureOfRelatedPartyExplanatory", "language": "en", "entity": "scheme:5967007LIEEXZXISIG31", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00" } }, "fact-348": { "value": "(viii) Fair value measurement The following table provides the fair value measurement hierarchy of the Group\u2019s assets and liabilities.
Fair value measurement using
Significant
unobservable
Date of valuation Total inputs (Level 3)
Assets measured at fair value:
Financial assets
Cash
31 December 2023
39,340
39,340
Accounts receivable
31 December 2023
240,790
240,790
Other long term investments
31 December 2023
4,001
4,001
Financial debts
Accounts payable
31 December 2023
-159,690
-156,622
Bank loans
31 December 2023
-12,944
-12,944
Due to their short term nature, the carrying value of current financial assets and liabilities is deemed as reasonable approximation to the fair value of the financial assets and liabilities. As such, the carrying amount is considered not to be significantly different from the fair value. Based on characteristics of the financial instruments recognized in the consolidated financial statements, these have been grouped in classes and categories as described below. The estimated fair value corresponds substantially carrying value. Other long term investments are classified as equity instruments designated at fair value, according to IFRS 9. The balance sheet value of cash and cash equivalents and overdrafts is approximate to the fair value as these instruments have a short expiry period. Similarly, the balance sheet value of accounts receivables and accounts payable is approximate to the fair value as they are agreed on \u201cordinary\u201d terms. Book value of debt is deemed to be equivalent to market value, since the company should be able to refinance the loan at the same rate in the market. ", "dimensions": { "concept": "ifrs-full:DisclosureOfFairValueMeasurementExplanatory", "language": "en", "entity": "scheme:5967007LIEEXZXISIG31", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00" } }, "fact-360": { "value": "(viii) Fair value measurement The following table provides the fair value measurement hierarchy of the Group\u2019s assets and liabilities.
Fair value measurement using
Significant
unobservable
Date of valuation Total inputs (Level 3)
Assets measured at fair value:
Financial assets
Cash
31 December 2023
39,340
39,340
Accounts receivable
31 December 2023
240,790
240,790
Other long term investments
31 December 2023
4,001
4,001
Financial debts
Accounts payable
31 December 2023
-159,690
-156,622
Bank loans
31 December 2023
-12,944
-12,944
Due to their short term nature, the carrying value of current financial assets and liabilities is deemed as reasonable approximation to the fair value of the financial assets and liabilities. As such, the carrying amount is considered not to be significantly different from the fair value. Based on characteristics of the financial instruments recognized in the consolidated financial statements, these have been grouped in classes and categories as described below. The estimated fair value corresponds substantially carrying value. Other long term investments are classified as equity instruments designated at fair value, according to IFRS 9. The balance sheet value of cash and cash equivalents and overdrafts is approximate to the fair value as these instruments have a short expiry period. Similarly, the balance sheet value of accounts receivables and accounts payable is approximate to the fair value as they are agreed on \u201cordinary\u201d terms. Book value of debt is deemed to be equivalent to market value, since the company should be able to refinance the loan at the same rate in the market. ", "dimensions": { "concept": "ifrs-full:DisclosureOfFairValueOfFinancialInstrumentsExplanatory", "language": "en", "entity": "scheme:5967007LIEEXZXISIG31", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00" } }, "fact-304": { "value": "Note 19: Post balance sheet events About StrongPoint No significant events have occurred after the balance sheet date", "dimensions": { "concept": "ifrs-full:DisclosureOfEventsAfterReportingPeriodExplanatory", "language": "en", "entity": "scheme:5967007LIEEXZXISIG31", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00" } }, "fact-306": { "value": "Note 20: Overview of subsidiaries The following subsidiares are included in the consolidated accounts:
Company
Adress
Main area of business
Share of votes
Stake
StrongPoint AS
Oslo
Service and product provider
100%
100%
StrongPoint AB
G\u00f6teborg (Sweden)
Service and product provider
100%
100%
StrongPoint UAB 2
Vilnius (Lithuania)
Service and product provider
100%
100%
StrongPoint S.L.U 3
Spain
Service and product provider
100%
100%
StrongPoint E-com AB
T\u00e4by (Sweden)
Production and sales
100%
100%
Air Link Group Ltd
Birmingham (UK)
Service and product provider
100%
100%
StrongPoint Hamari Oy
Finland
Service and product provider
100%
100%
StrongPoint Investering AS
Oslo
Investment company
100%
100%
1 4 1) StrongPoint AS owns 100% of its company in Germany. 2) StrongPoint UAB owns 100% of its sales companies in Latvia and Estonia. 3) StrongPoint SLU owns 60% of StrongPoint Cash Tech S.L. 4) Air Link Group Ltd owns 100% of its sales companies in UK, Ireland and Belgium.", "dimensions": { "concept": "ifrs-full:DisclosureOfSignificantInvestmentsInSubsidiariesExplanatory", "language": "en", "entity": "scheme:5967007LIEEXZXISIG31", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00" } }, "fact-305": { "value": "Note 21: Exchange rates
2023
2022
Average exchange rate
Exchange rate
Exchange rate
January
February
March
April
May
June
July
August
September
October
November
December
31.12.
Average
31.12.
SEK
0.956
0.981
1.005
1.017
1.032
1.003
0.975
0.966
0.967
0.998
1.022
1.029
1.013
0.951
0.945
Euro
10.715
10.953
11.286
11.527
11.723
11.716
11.347
11.413
11.453
11.628
11.796
11.533
11.241
10.102
10.514
GBP
12.147
12.369
12.798
13.076
13.465
13.646
13.218
13.288
13.293
13.397
13.551
13.386
12.934
11.847
11.854
Profit or loss items in the subsidiaries are converted to NOK monthly, based on the average exchange rate of that month. Balance sheet items for the subsidiaries are converted to NOK, based on the exchange rate per 31.12.2023.", "dimensions": { "concept": "ifrs-full:DisclosureOfEffectOfChangesInForeignExchangeRatesExplanatory", "language": "en", "entity": "scheme:5967007LIEEXZXISIG31", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00" } }, "fact-307": { "value": "Note 22: Short and long term provisions
(KNOK)
2023
2022
Earnout Hamari
1,686
-
Rental deposit
162
-
Balance 31.12
1,848
-
Of which long term provisions
1,848
-
", "dimensions": { "concept": "ifrs-full:DisclosureOfProvisionsExplanatory", "language": "en", "entity": "scheme:5967007LIEEXZXISIG31", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00" } }, "fact-308": { "value": "Note 24: Shareholder information Overview of shareholders per 31.12.2023
No.
Name
No. of shares
%
1
STR\u00d8MSTANGEN AS
3,933,092
8.76
2
SOLE ACTIVE AS
2,221,717
4.95
3
V. EIENDOM HOLDING AS
1,865,000
4.15
4
PICTET & CIE (EUROPE) S.A.
1,791,821
3.99
5
HSBC BANK PLC
1,533,890
3.42
6
ZETTERBERG, GEORG (incl. fully owned companies)
1,480,000
3.30
7
NORDNET BANK AB
1,416,833
3.16
8
AVANZA BANK AB
1,265,709
2.82
9
VERDADERO AS
1,224,407
2.73
10
RING, JAN
1,204,078
2.68
11
SKANDINAVISKA ENSKILDA BANKEN AB
960,620
2.14
12
EVENSEN, TOR COLKA
876,000
1.95
13
WAALER AS
702,000
1.56
14
HAUSTA INVESTOR AS
700,000
1.56
15
JOHANSEN, STEIN
600,000
1.34
16
TOHATT AS
575,000
1.28
17
MP PENSJON PK
561,402
1.25
18
BANQUE PICTET & CIE SA
559,746
1.25
19
ALS KINGFISHER LIMITED
506,156
1.13
20
EUROPEAN RETAIL ENGINEERING LIMITED
506,156
1.13
Sum 20 largest shareholders
24,483,627
54.54
Sum 2 367 other shareholders
20,404,725
45.46
Sum all 2 387 shareholders
44,888,352
100.00
StrongPoint ASA had per 31.12.2023 a share capital of NOK 27,830,778.24 spread over 44,888,352 shares with a nominal value of NOK 0.62. All shares have equal voting rights. Per 31.12.2023 the Group owned 350,404 own shares. Cost price of these was KNOK 7,330, giving an average share price of NOK 20.92. In 2023 it was paid KNOK 39,935 in dividend, which was NOK 0.90 per share. Members of the Group management team have stock options. See note 9 for more information.
Changes in share capital:
Number of shares
Share capital
KNOK
2023
2022
2023
2022
Ordinary shares 01.01
44,888
44,376
27,831
27,513
Ordinary shares 31.12
44,888
44,888
27,831
27,831
Own shares:
Numbers in 1000
2023
2022
01.01
585
588
Purchase of own shares
591
Sales of own shares
-234
-594
31.12
350
585
Nominal value
0.62
0.62
Own shares specified in equity (KNOK):
217
362
", "dimensions": { "concept": "ifrs-full:DisclosureOfShareCapitalReservesAndOtherEquityInterestExplanatory", "language": "en", "entity": "scheme:5967007LIEEXZXISIG31", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00" } }, "fact-334": { "value": "Note 24: Shareholder information Overview of shareholders per 31.12.2023
No.
Name
No. of shares
%
1
STR\u00d8MSTANGEN AS
3,933,092
8.76
2
SOLE ACTIVE AS
2,221,717
4.95
3
V. EIENDOM HOLDING AS
1,865,000
4.15
4
PICTET & CIE (EUROPE) S.A.
1,791,821
3.99
5
HSBC BANK PLC
1,533,890
3.42
6
ZETTERBERG, GEORG (incl. fully owned companies)
1,480,000
3.30
7
NORDNET BANK AB
1,416,833
3.16
8
AVANZA BANK AB
1,265,709
2.82
9
VERDADERO AS
1,224,407
2.73
10
RING, JAN
1,204,078
2.68
11
SKANDINAVISKA ENSKILDA BANKEN AB
960,620
2.14
12
EVENSEN, TOR COLKA
876,000
1.95
13
WAALER AS
702,000
1.56
14
HAUSTA INVESTOR AS
700,000
1.56
15
JOHANSEN, STEIN
600,000
1.34
16
TOHATT AS
575,000
1.28
17
MP PENSJON PK
561,402
1.25
18
BANQUE PICTET & CIE SA
559,746
1.25
19
ALS KINGFISHER LIMITED
506,156
1.13
20
EUROPEAN RETAIL ENGINEERING LIMITED
506,156
1.13
Sum 20 largest shareholders
24,483,627
54.54
Sum 2 367 other shareholders
20,404,725
45.46
Sum all 2 387 shareholders
44,888,352
100.00
StrongPoint ASA had per 31.12.2023 a share capital of NOK 27,830,778.24 spread over 44,888,352 shares with a nominal value of NOK 0.62. All shares have equal voting rights.
Per 31.12.2023 the Group owned 350,404 own shares. Cost price of these was KNOK 7,330, giving
an average share price of NOK 20.92.
Changes in share capital:
Number of shares
Share capital
KNOK
2023
2022
2023
2022
Ordinary shares 01.01
44,888
44,376
27,831
27,513
Ordinary shares 31.12
44,888
44,888
27,831
27,831
Own shares:
Numbers in 1000
2023
2022
01.01
585
588
Purchase of own shares
591
Sales of own shares
-234
-594
31.12
350
585
Nominal value
0.62
0.62
Own shares specified in equity (KNOK):
217
362
", "dimensions": { "concept": "ifrs-full:DisclosureOfIssuedCapitalExplanatory", "language": "en", "entity": "scheme:5967007LIEEXZXISIG31", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00" } }, "fact-309": { "value": "
Note 23: Earnings per share
KNOK
2023
2022
Profit for the year
-34,200
29,105
Weighed average number of shares during the year
Basic
44,397,547
44,260,195
Effect of dilutive share based incentive plans
3,422,500
2,668,750
Diluted
47,820,047
46,928,945
Earnings per share (NOK)
Basic
-0.77
0.66
Diluted
-0.77
0.62
The options are antidilutive due to the deficit in 2023
Number of outstanding shares (numbers in thousand)
2023
2022
01.01: Number of shares (after deductions for own shares)
44,304
43,788
New shares
512
Sale of own shares during the year
234
594
Purchase of own shares during the year
-591
31.12: Number of shares (after deductions for 350.4 thousand own shares)
44,538
44,304
", "dimensions": { "concept": "ifrs-full:DisclosureOfEarningsPerShareExplanatory", "language": "en", "entity": "scheme:5967007LIEEXZXISIG31", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00" } }, "fact-335": { "value": "
In 2023 it was paid KNOK 39,935 in dividend, which was NOK 0.90 per share.
", "dimensions": { "concept": "ifrs-full:DisclosureOfDividendsExplanatory", "language": "en", "entity": "scheme:5967007LIEEXZXISIG31", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00" } }, "fact-350": { "value": "0.9", "decimals": 2, "dimensions": { "concept": "ifrs-full:DividendsRecognisedAsDistributionsToOwnersPerShare", "entity": "scheme:5967007LIEEXZXISIG31", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00", "unit": "iso4217:NOK/xbrli:shares" } }, "fact-349": { "value": "Own shares:
Numbers in 1000
2023
2022
01.01
585
588
Purchase of own shares
591
Sales of own shares
-234
-594
31.12
350
585
Nominal value
0.62
0.62
Own shares specified in equity (KNOK):
217
362
", "dimensions": { "concept": "ifrs-full:DisclosureOfTreasurySharesExplanatory", "language": "en", "entity": "scheme:5967007LIEEXZXISIG31", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00" } }, "fact-336": { "value": "Note 26: Tax Tax expense:
KNOK
2023
2022
Tax payable
3,891
16,108
Tax items relating to previous years
-
726
Change in deferred tax
-15,023
-7,774
Tax expense
-11,132
9,060
Included as tax expense in the financial statements
-11,132
9,060
Reconciliation of the nominal tax rate
22%
22%
KNOK
2023
2022
Profit before tax
-45,331
38,165
Tax calculated at a rate of 22%
-9,973
8,396
Taxes related to companies in other countries with other tax rate
-2,347
-2,926
Non-taxable items (22% of permanent differences)
884
2,345
Unrecognised deferred tax asset
304
1,245
Tax expense
-11,132
9,060
Deferred tax assets and deferred tax liabilities:
Consolidated income
Deferred tax assets Deferred tax liabilities statement
KNOK
2023
2022
2023
2022
2023
2022
Current assets
665
631
3,756
4,271
-926
-1,542
Liabilities
4,393
3,092
-2,318
-3,185
-2,169
-642
Fixed assets
248
347
-18,219
-18,301
-532
-3,048
Losses carried forward
25,800
16,855
-1,331
-3,783
-11,397
-2,542
Deferred tax
31,106
20,925
-18,111
-20,997
-15,023
-7,774
The Company has no liabilities / deferred tax assets that effect Total comprehensive income. Per 31.12.2023 the group has losses carried forward of MNOK 80.4 in the Spanish entities. Deferred tax assets of MNOK 20.1 (MNOK 15.5) associated with this is included in the balance sheet.", "dimensions": { "concept": "ifrs-full:DisclosureOfDeferredTaxesExplanatory", "language": "en", "entity": "scheme:5967007LIEEXZXISIG31", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00" } }, "fact-310": { "value": "Note 26: Tax Tax expense:
KNOK
2023
2022
Tax payable
3,891
16,108
Tax items relating to previous years
-
726
Change in deferred tax
-15,023
-7,774
Tax expense
-11,132
9,060
Included as tax expense in the financial statements
-11,132
9,060
Reconciliation of the nominal tax rate
22%
22%
KNOK
2023
2022
Profit before tax
-45,331
38,165
Tax calculated at a rate of 22%
-9,973
8,396
Taxes related to companies in other countries with other tax rate
-2,347
-2,926
Non-taxable items (22% of permanent differences)
884
2,345
Unrecognised deferred tax asset
304
1,245
Tax expense
-11,132
9,060
Deferred tax assets and deferred tax liabilities:
Consolidated income
Deferred tax assets Deferred tax liabilities statement
KNOK
2023
2022
2023
2022
2023
2022
Current assets
665
631
3,756
4,271
-926
-1,542
Liabilities
4,393
3,092
-2,318
-3,185
-2,169
-642
Fixed assets
248
347
-18,219
-18,301
-532
-3,048
Losses carried forward
25,800
16,855
-1,331
-3,783
-11,397
-2,542
Deferred tax
31,106
20,925
-18,111
-20,997
-15,023
-7,774
The Company has no liabilities / deferred tax assets that effect Total comprehensive income. Per 31.12.2023 the group has losses carried forward of MNOK 80.4 in the Spanish entities. Deferred tax assets of MNOK 20.1 (MNOK 15.5) associated with this is included in the balance sheet.", "dimensions": { "concept": "ifrs-full:DisclosureOfIncomeTaxExplanatory", "language": "en", "entity": "scheme:5967007LIEEXZXISIG31", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00" } }, "fact-312": { "value": "
Note 28: Macro perspectives influencing the business
Climate
Global climate changes influence both StrongPoint, customers and suppliers in different ways,
contributing to both risks and opportunities.
Climate risks are related especially to shortage of energy for the production and distribution of
goods, both proprietary solutions and third party products. If climate changes requires dramatic
changes in the energy consumption, this will influence StrongPoints ability to produce the products.
Hardware represents 49% of the business. Risk is also related to shortages on food, which will affect
the customers of StrongPoint, and shortages of raw materials for specific components. Management
does not see this as a risk in the short term.
Climate opportunities are linked to both StrongPoint solutions that can reduce energy consumption,
like AutoStore storage of frozen goods. StrongPoint Air Link (UK/Ireland) are providing refurbishment
of interior or point of sales physical installation, and this can contribute positive to climate if utilised in
other markets.
", "dimensions": { "concept": "strongpoint:DisclosureOfMacroPerspectivesInfluencingTheBusiness", "language": "en", "entity": "scheme:5967007LIEEXZXISIG31", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00" } }, "fact-311": { "value": "
Note 27: Other short term debt
KNOK
2023
2022
Holiday pay owed
20,328
17,716
Accrued expenses
32,179
28,467
Deferred income
62,520
73,550
Warranty provisions
1,232
2,149
Other short term debt
15,534
11,557
Total other short term debt
131,794
133,439
Warranty provisions (KNOK)
2023
2022
Balance 01.01
2,149
1,883
Provision
1,215
4,060
Currency differences
154
-56
Used
-2,287
-3,737
Balance 31.12
1,232
2,149
Of which warranties due within 1 year
1,232
2,149
", "dimensions": { "concept": "ifrs-full:DisclosureOfDebtSecuritiesExplanatory", "language": "en", "entity": "scheme:5967007LIEEXZXISIG31", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00" } }, "fact-351": { "value": "Note 27: Other short term debt
KNOK
2023
2022
Holiday pay owed
20,328
17,716
Accrued expenses
32,179
28,467
Deferred income
62,520
73,550
Warranty provisions
1,232
2,149
Other short term debt
15,534
11,557
Total other short term debt
131,794
133,439
Warranty provisions (KNOK)
2023
2022
Balance 01.01
2,149
1,883
Provision
1,215
4,060
Currency differences
154
-56
Used
-2,287
-3,737
Balance 31.12
1,232
2,149
Of which warranties due within 1 year
1,232
2,149
", "dimensions": { "concept": "ifrs-full:DisclosureOfOtherCurrentLiabilitiesExplanatory", "language": "en", "entity": "scheme:5967007LIEEXZXISIG31", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00" } }, "fact-337": { "value": "Note 27: Other short term debt
KNOK
2023
2022
Holiday pay owed
20,328
17,716
Accrued expenses
32,179
28,467
Deferred income
62,520
73,550
Warranty provisions
1,232
2,149
Other short term debt
15,534
11,557
Total other short term debt
131,794
133,439
Warranty provisions (KNOK)
2023
2022
Balance 01.01
2,149
1,883
Provision
1,215
4,060
Currency differences
154
-56
Used
-2,287
-3,737
Balance 31.12
1,232
2,149
Of which warranties due within 1 year
1,232
2,149
", "dimensions": { "concept": "ifrs-full:DisclosureOfAccruedExpensesAndOtherLiabilitiesExplanatory", "language": "en", "entity": "scheme:5967007LIEEXZXISIG31", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00" } } } }