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"decimals": -3, "dimensions": { "concept": "ifrs-full:Equity", "entity": "scheme:5967007LIEEXZXISIG31", "period": "2025-01-01T00:00:00", "unit": "iso4217:NOK" } }, "fact-267": { "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 29 April 2025.", "dimensions": { "concept": "ifrs-full:DisclosureOfGeneralInformationAboutFinancialStatementsExplanatory", "language": "en", "entity": "scheme:5967007LIEEXZXISIG31", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "fact-1": { "value": "StrongPoint ASA", "dimensions": { "concept": "ifrs-full:NameOfReportingEntityOrOtherMeansOfIdentification", "language": "en", "entity": "scheme:5967007LIEEXZXISIG31", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "fact-261": { "value": "StrongPoint ASA", "dimensions": { "concept": "ifrs-full:NameOfParentEntity", "language": "en", "entity": "scheme:5967007LIEEXZXISIG31", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "fact-263": { "value": "StrongPoint ASA", "dimensions": { "concept": "ifrs-full:NameOfUltimateParentOfGroup", "language": "en", "entity": "scheme:5967007LIEEXZXISIG31", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "fact-265": { "value": "ASA", "dimensions": { "concept": "ifrs-full:LegalFormOfEntity", "language": "en", "entity": "scheme:5967007LIEEXZXISIG31", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "fact-2": { "value": "Norway", "dimensions": { "concept": "ifrs-full:DomicileOfEntity", "language": "en", "entity": "scheme:5967007LIEEXZXISIG31", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "fact-262": { "value": "Norway", "dimensions": { "concept": "ifrs-full:CountryOfIncorporation", "language": "en", "entity": "scheme:5967007LIEEXZXISIG31", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "fact-264": { "value": "Norway", "dimensions": { "concept": "ifrs-full:PrincipalPlaceOfBusiness", "language": "en", "entity": "scheme:5967007LIEEXZXISIG31", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "fact-3": { "value": "Brynsengveien 10 in the municipality of Oslo", "dimensions": { "concept": "ifrs-full:AddressOfRegisteredOfficeOfEntity", "language": "en", "entity": "scheme:5967007LIEEXZXISIG31", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "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": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "fact-303": { "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": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "fact-304": { "value": "The annual financial statements will be approved by the ordinary general meeting 29 April 2025.", "dimensions": { "concept": "ifrs-full:DisclosureOfAuthorisationOfFinancialStatementsExplanatory", "language": "en", "entity": "scheme:5967007LIEEXZXISIG31", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "fact-266": { "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 31.12.2024. 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.
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.
Equity and cost of equity
Share option program
The equity-settled share-based option program is a 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.
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
weighted with probability.
Financial instruments
For Financial instruments we have the the following material accounting policies:
Financial assets
Initial recognition and measurement
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
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.
Accounting policies 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). 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 is not included in the segment statements.
Accounting policies
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 discount is recognized as a personnel cost. Consolidated cash flow statement Consolidated statement of changes in equity Note 1 General information Note 2 Accounting principles Note 3 Segment information Note 4 Changes in the group structure Note 5 Other operating expenses Note 6 Investment in associated companies Note 7 Shares in other companies Note 8 Financial items Note 9 Payroll costs and number of employees Accounting policies 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\u20135 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. Consolidated cash flow statement Consolidated statement of changes in equity Note 1 General information Note 2 Accounting principles Note 3 Segment information Note 4 Changes in the group structure Note 5 Other operating expenses Note 6 Investment in associated companies Note 7 Shares in other companies Note 8 Financial items Note 9 Payroll costs and number of employees Accounting policies Intangible assets Intangible assets are recognized at their cost price, less any accumulated write-downs and amortization, 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 and development costs related to our own POS solution (Tree Commerce) in the Baltics. The development in Spain is performed through a new legal company 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 recognized where there is reasonable assurance that the grant will be received and all attached conditions will be complied with. Accounting policies 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.
Accounting policies
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.
In 2024, Norway and The UK entered factoring arrangements. The financing arrangements have
contributed to lower outstanding accounts receivables per 31.12.2024.
Accounting policies
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.
Accounting policies
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 realized or the liability is paid will be used.
", "dimensions": { "concept": "ifrs-full:DisclosureOfMaterialAccountingPolicyInformationExplanatory", "language": "en", "entity": "scheme:5967007LIEEXZXISIG31", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "fact-268": { "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 31.12.2024. 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": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "fact-301": { "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 31.12.2024. The consolidated financial statements have been produced based on historical costs. ", "dimensions": { "concept": "ifrs-full:StatementOfIFRSCompliance", "language": "en", "entity": "scheme:5967007LIEEXZXISIG31", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "fact-302": { "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": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "fact-345": { "value": "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. 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. When applying long term annual growth rates of 8 to 10% on revenue and 5 to 6% on operating costs, there is substantial impairment headroom. This corresponds to EBITDA margin of 6 to 9% and is considered to be achievable in the long term. However, if assuming long term annual revenue growth of 5 to 6% and the operating costs continuing to increase by 5%, the EBITDA margin will convert to 3% and consequently lead to an impairment in both segments. 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": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "fact-269": { "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. ", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForForeignCurrencyTranslationExplanatory", "language": "en", "entity": "scheme:5967007LIEEXZXISIG31", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "fact-355": { "value": "Equity and cost of equity Share option program The equity-settled share-based option program is a 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.
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 discount is recognized
as a personnel cost.
", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForSharebasedPaymentTransactionsExplanatory", "language": "en", "entity": "scheme:5967007LIEEXZXISIG31", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "fact-270": { "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 weighted with probability. ", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForProvisionsExplanatory", "language": "en", "entity": "scheme:5967007LIEEXZXISIG31", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "fact-271": { "value": "Financial instruments For Financial instruments we have the the following material accounting policies: Financial assets Initial recognition and measurement 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 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": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "fact-305": { "value": "Financial assets Initial recognition and measurement 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": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "fact-322": { "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": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "fact-306": { "value": "Financial liabilities 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": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "fact-272": { "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": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "fact-273": { "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": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "fact-274": { "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": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "fact-307": { "value": "New standards and interpretations No new principles with effects on recognition and measurement.", "dimensions": { "concept": "ifrs-full:DisclosureOfChangesInAccountingPoliciesAccountingEstimatesAndErrorsExplanatory", "language": "en", "entity": "scheme:5967007LIEEXZXISIG31", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "fact-275": { "value": "New standards and interpretations No new principles with effects on recognition and measurement.", "dimensions": { "concept": "ifrs-full:DisclosureOfChangesInAccountingPoliciesExplanatory", "language": "en", "entity": "scheme:5967007LIEEXZXISIG31", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "fact-276": { "value": "
Note 3: Segment information
Accounting policies
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).
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 is 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. 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 Electronic Shelf Labels (ESL), POS, ERP and Digi scales and wrapping systems.
The group management has in the fiscal year 2024 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
2024
2023
- Products
292,870
219,693
- Services
111,893
100,056
In-store Productivity
404,763
319,749
- Products
115,866
148,186
- Services
120,557
111,285
Payment Solutions
236,423
259,472
- Products
121,591
117,564
- Services
60,621
44,408
Check Out Efficiency
182,212
161,972
- Products
43,811
86,940
- Services
70,639
39,666
E-commerce logistics
114,451
126,606
- Products
-
-
- Services
196,124
283,466
Shop Fittting
196,124
283,466
- Products
72,814
89,651
- Services
102,279
101,483
Other retail technology
175,093
191,132
- Products
646,952
662,036
- Services
662,114
680,362
Total sales revenue
1,309,066
1,342,398
Segment and geographical information
EBITDA is operating profit before depreciation, amortization interest and tax.
EBT is profit before tax.
Working capital is inventory plus accounts receivables minus accounts payables
There are no customers that represent 10% or more of revenues in the individual business areas in 2024 and 2023.
Revenue per customer is based on sales per legal entities.
Scandinavia
International incl. R&D
ASA/Elim
Consolidated
KNOK
2024
2023
2024
2023
2024
2023
2024
2023
- Products
222,360
230,437
222,360
230,437
- Services
123,535
109,845
123,535
109,845
Norway
345,895
340,282
-
-
-
-
345,895
340,282
- Products
152,479
155,231
152,479
155,231
- Services
150,409
138,364
150,409
138,364
Sweden
302,888
293,595
-
-
-
-
302,888
293,595
- Products
142,484
136,829
142,484
136,829
- Services
131,969
118,713
131,969
118,713
Baltics & Finland
-
-
274,453
255,542
-
-
274,453
255,542
- Products
51,905
67,586
51,905
67,586
- Service
22,187
19,985
22,187
19,985
Spain
-
-
74,093
87,570
-
-
74,093
87,570
- Products
1,037
-
1,037
0
- Services
223,797
283,466
223,797
283,466
UK & Ireland
-
-
224,834
283,466
-
-
224,834
283,466
- Products
76,686
71,953
76,686
71,953
- Services
10,218
9,990
10,218
9,990
Rest of Europe
-
-
86,904
81,943
-
-
86,904
81,943
- Products
374,838
385,668
272,113
276,368
-
-
646,952
662,036
- Services
273,944
248,209
388,170
432,153
-
-
662,114
680,362
Total sales revenue
648,783
633,877
660,284
708,522
-
-
1,309,066
1,342,398
EBITDA
54,961
41,485
-26,606
-10,403
-26,316
-32,371
2,039
-1,288
EBT
49,502
35,119
-72,239
-51,475
-24,045
-28,975
-46,783
-45,331
Assets
333,538
406,984
561,418
440,480
126,250
167,026
1,027,738
1,014,490
Liabilities
112,905
201,103
503,112
401,269
-60,014
-62,734
562,535
539,638
Working capital
125,722
185,989
149,341
149,687
-19,464
-24,153
255,600
311,524
Investment in fixed assets
2,216
5,110
6,365
12,508
-
26
8,581
17,643
", "dimensions": { "concept": "ifrs-full:DisclosureOfEntitysReportableSegmentsExplanatory", "language": "en", "entity": "scheme:5967007LIEEXZXISIG31", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "fact-323": { "value": "Note 3: Segment information Accounting policies 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). 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 is 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. 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 Electronic Shelf Labels (ESL), POS, ERP and Digi scales and wrapping systems. The group management has in the fiscal year 2024 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
2024
2023
- Products
292,870
219,693
- Services
111,893
100,056
In-store Productivity
404,763
319,749
- Products
115,866
148,186
- Services
120,557
111,285
Payment Solutions
236,423
259,472
- Products
121,591
117,564
- Services
60,621
44,408
Check Out Efficiency
182,212
161,972
- Products
43,811
86,940
- Services
70,639
39,666
E-commerce logistics
114,451
126,606
- Products
-
-
- Services
196,124
283,466
Shop Fittting
196,124
283,466
- Products
72,814
89,651
- Services
102,279
101,483
Other retail technology
175,093
191,132
- Products
646,952
662,036
- Services
662,114
680,362
Total sales revenue
1,309,066
1,342,398
Segment and geographical information EBITDA is operating profit before depreciation, amortization interest and tax. EBT is profit before tax. Working capital is inventory plus accounts receivables minus accounts payables There are no customers that represent 10% or more of revenues in the individual business areas in 2024 and 2023. Revenue per customer is based on sales per legal entities.
Scandinavia
International incl. R&D
ASA/Elim
Consolidated
KNOK
2024
2023
2024
2023
2024
2023
2024
2023
- Products
222,360
230,437
222,360
230,437
- Services
123,535
109,845
123,535
109,845
Norway
345,895
340,282
-
-
-
-
345,895
340,282
- Products
152,479
155,231
152,479
155,231
- Services
150,409
138,364
150,409
138,364
Sweden
302,888
293,595
-
-
-
-
302,888
293,595
- Products
142,484
136,829
142,484
136,829
- Services
131,969
118,713
131,969
118,713
Baltics & Finland
-
-
274,453
255,542
-
-
274,453
255,542
- Products
51,905
67,586
51,905
67,586
- Service
22,187
19,985
22,187
19,985
Spain
-
-
74,093
87,570
-
-
74,093
87,570
- Products
1,037
-
1,037
0
- Services
223,797
283,466
223,797
283,466
UK & Ireland
-
-
224,834
283,466
-
-
224,834
283,466
- Products
76,686
71,953
76,686
71,953
- Services
10,218
9,990
10,218
9,990
Rest of Europe
-
-
86,904
81,943
-
-
86,904
81,943
- Products
374,838
385,668
272,113
276,368
-
-
646,952
662,036
- Services
273,944
248,209
388,170
432,153
-
-
662,114
680,362
Total sales revenue
648,783
633,877
660,284
708,522
-
-
1,309,066
1,342,398
EBITDA
54,961
41,485
-26,606
-10,403
-26,316
-32,371
2,039
-1,288
EBT
49,502
35,119
-72,239
-51,475
-24,045
-28,975
-46,783
-45,331
Assets
333,538
406,984
561,418
440,480
126,250
167,026
1,027,738
1,014,490
Liabilities
112,905
201,103
503,112
401,269
-60,014
-62,734
562,535
539,638
Working capital
125,722
185,989
149,341
149,687
-19,464
-24,153
255,600
311,524
Investment in fixed assets
2,216
5,110
6,365
12,508
-
26
8,581
17,643
", "dimensions": { "concept": "ifrs-full:DisclosureOfRevenueExplanatory", "language": "en", "entity": "scheme:5967007LIEEXZXISIG31", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "fact-356": { "value": "Accounting policies 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). 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 is 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. 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 Electronic Shelf Labels (ESL), POS, ERP and Digi scales and wrapping systems. The group management has in the fiscal year 2024 governed the business based on reported sales revenues, EBITDA and EBIT for the two business areas Scandinavia and International incl. R&D. ", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForSegmentReportingExplanatory", "language": "en", "entity": "scheme:5967007LIEEXZXISIG31", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "fact-346": { "value": "Accounting policies 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). 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 is not included in the segment statements. ", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForRecognitionOfRevenue", "language": "en", "entity": "scheme:5967007LIEEXZXISIG31", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "fact-308": { "value": "Segment and geographical information EBITDA is operating profit before depreciation, amortization interest and tax. EBT is profit before tax. Working capital is inventory plus accounts receivables minus accounts payables There are no customers that represent 10% or more of revenues in the individual business areas in 2024 and 2023. Revenue per customer is based on sales per legal entities.
Scandinavia
International incl. R&D
ASA/Elim
Consolidated
KNOK
2024
2023
2024
2023
2024
2023
2024
2023
- Products
222,360
230,437
222,360
230,437
- Services
123,535
109,845
123,535
109,845
Norway
345,895
340,282
-
-
-
-
345,895
340,282
- Products
152,479
155,231
152,479
155,231
- Services
150,409
138,364
150,409
138,364
Sweden
302,888
293,595
-
-
-
-
302,888
293,595
- Products
142,484
136,829
142,484
136,829
- Services
131,969
118,713
131,969
118,713
Baltics & Finland
-
-
274,453
255,542
-
-
274,453
255,542
- Products
51,905
67,586
51,905
67,586
- Service
22,187
19,985
22,187
19,985
Spain
-
-
74,093
87,570
-
-
74,093
87,570
- Products
1,037
-
1,037
0
- Services
223,797
283,466
223,797
283,466
UK & Ireland
-
-
224,834
283,466
-
-
224,834
283,466
- Products
76,686
71,953
76,686
71,953
- Services
10,218
9,990
10,218
9,990
Rest of Europe
-
-
86,904
81,943
-
-
86,904
81,943
- Products
374,838
385,668
272,113
276,368
-
-
646,952
662,036
- Services
273,944
248,209
388,170
432,153
-
-
662,114
680,362
Total sales revenue
648,783
633,877
660,284
708,522
-
-
1,309,066
1,342,398
EBITDA
54,961
41,485
-26,606
-10,403
-26,316
-32,371
2,039
-1,288
EBT
49,502
35,119
-72,239
-51,475
-24,045
-28,975
-46,783
-45,331
Assets
333,538
406,984
561,418
440,480
126,250
167,026
1,027,738
1,014,490
Liabilities
112,905
201,103
503,112
401,269
-60,014
-62,734
562,535
539,638
Working capital
125,722
185,989
149,341
149,687
-19,464
-24,153
255,600
311,524
Investment in fixed assets
2,216
5,110
6,365
12,508
-
26
8,581
17,643
", "dimensions": { "concept": "ifrs-full:DisclosureOfGeographicalAreasExplanatory", "language": "en", "entity": "scheme:5967007LIEEXZXISIG31", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "fact-277": { "value": "
Note 4: Changes in the group structure
There have not been any changes in the group structure in 2024.
", "dimensions": { "concept": "ifrs-full:DisclosureOfInterestsInOtherEntitiesExplanatory", "language": "en", "entity": "scheme:5967007LIEEXZXISIG31", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "fact-309": { "value": "Note 4: Changes in the group structure There have not been any changes in the group structure in 2024.", "dimensions": { "concept": "ifrs-full:DisclosureOfBusinessCombinationsExplanatory", "language": "en", "entity": "scheme:5967007LIEEXZXISIG31", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "fact-278": { "value": "Note 5: Other operating expenses
KNOK
2024
2023
Rent, electricity, cleaning
17,337
16,962
Vehicles
13,964
14,317
Other consultancy fees
25,438
38,450
IT
45,765
44,927
Travel
13,222
11,632
Marketing
10,329
9,984
Other costs
31,125
28,972
Total
157,179
165,244
1) Of which TNOK 845 applies to auditors other than EY. Auditors fee are exclusive of VAT, with the exception of transaction expenses.
Specification of recognized auditors fee:
2024
2023
Fee for auditing services
3,928
3,924
Fee for other services
277
145
Total
1
4,206
4,069
", "dimensions": { "concept": "ifrs-full:DisclosureOfOtherOperatingExpenseExplanatory", "language": "en", "entity": "scheme:5967007LIEEXZXISIG31", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "fact-343": { "value": "Note 5: Other operating expenses
KNOK
2024
2023
Rent, electricity, cleaning
17,337
16,962
Vehicles
13,964
14,317
Other consultancy fees
25,438
38,450
IT
45,765
44,927
Travel
13,222
11,632
Marketing
10,329
9,984
Other costs
31,125
28,972
Total
157,179
165,244
1) Of which TNOK 845 applies to auditors other than EY. Auditors fee are exclusive of VAT, with the exception of transaction expenses.
Specification of recognized auditors fee:
2024
2023
Fee for auditing services
3,928
3,924
Fee for other services
277
145
Total
1
4,206
4,069
Note 9: Payroll costs and number of employees Accounting policies 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. Salaries and remuneration for Executive Management Team and Directors 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 our webpages. 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 discount is recognized as a personnel cost.
KNOK
2024
2023
Salaries
263,064
262,080
Severance packages
8,864
8,382
Director's fee and Nomination Committee
2,872
2,240
Social fee
47,125
46,449
Pension costs
16,353
15,728
Other payroll costs
28,230
31,903
Total payroll costs
366,508
366,782
Number of full-time employees employed during the year:
494
514
Number of full-time employees at the end of the year:
492
524
KNOK
2024
2023
Board of Directors
Director's fee
2,050
2,082
Executive Management Team
Salaries
16,690
19,200
Bonus
2,162
2,771
Company car
1,092
1,022
Exercised options
392
2,156
Other remuneration
1,469
902
Pension expenses
1,789
1,866
Total salaries and remuneration
25,645
29,998
The following members of the Executive Management Team and Board of Directors own shares or share options in the company per 31.12: 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. 4) Member of the Board until 25 April 2024
Shares per Shares per Options per Options per
Name, position 31.12.24 31.12.23 31.12.24 31.12.23
Board of Directors
Morthen Johannessen, Chairman
1
147,584
112,135
Ingeborg Molden Hegstad, Director
2
30,826
25,602
Cathrine Laksfoss, Director
10,435
5,211
Audun Nordtveit, Director
28,296
23,072
P\u00e5l Wibe, Director
3,868
Peter Wir\u00e9n, former Director
4
-
40,607
Total
221,009
166,020
-
-
Shares per Shares per Options per Options per
Name, position 31.12.24 31.12.23 31.12.24 31.12.23
Executive Management Team
Jacob Tveraabak, CEO
3
250,146
230,843
1,000,000
750,000
Marius Drefvelin CFO from 01.09.23
21,364
-
275,000
150,000
Knut Olav Nyhus Olsen, SVP People
46,995
31,227
350,000
275,000
& Organisation, and head of Marketing
and Internal Communication
Gisle Elvebakken, SVP Norway to
31.08.24
-
47,645
-
350,000
Julius Stulpinas, SVP Technology &
49,321
38,365
325,000
250,000
supply chain
Rimantas Ma\u017eulis, SVP Baltics
44,951
30,523
400,000
325,000
Lorena G\u00f3mez, SVP Spain
35,119
19,846
300,000
200,000
Chris Mackie, SVP E-commerce to
31.01.24
-
25,104
-
125,000
Magnus Ros\u00e9n, SVP Sweden
27,307
15,886
275,000
175,000
Alex Eveleigh, SVP UK & Ireland from
15.01.24
-
-
100,000
Total
475,203
439,439
3,025,000
2,600,000
Members of the Extended Group Management Team and key employees have stock options: Vesting conditions * Weighted average parameters at grant of instrument Outstanding instruments Year End - Option
Total costs and Social Security Provisions (KNOK)
2024
2023
Total IFRS cost
4 222
6 827
Total Social security provisions
10
-
432
4,232
6,395
Granted instruments
2024
2023
Instrument
Option
Option
Quantity 31.12 (instruments)
1 230 000
1 335 000
Quantity 31.12 (shares)
1 230 000
1 335 000
Contractual life *
5.00
5.00
Strike price *
10.92
21.34
Share price *
10.95
21.16
Expected lifetime *
3.25
3.25
Volatility *
40.44%
43.11%
Interest rate *
3.69%
3.31%
Dividend *
0.00
0.00
FV per instrument *
3.58
7.07
Quantity and weighted average prices
Weighted
Number of Average
Activity instruments Strike Price
Outstanding OB (01.01.2024)
3,422,500
22.33
Granted
1,230,000
10.92
Terminated
-557,500
21.95
Outstanding CB (31.12.2024)
4,095,000
18.98
Vested CB
1,772,500
23.06
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 annualized 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. Outstanding Instruments Overview
Strike Number of Weighted Average Vested instruments
price instruments remaining contractual life 31.12.2024
10.92
1,230,000
4.37
-
14.68
500,000
0.84
500,000
18.00
150,000
3.67
37,500
21.77
890,000
3.36
222,500
21.91
625,000
2.36
312,500
30.23
700,000
1.35
700,000
Total
4,095,000
1,772,500
Note 26: Tax Accounting policies 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 realized or the liability is paid will be used.
KNOK
2024
2023
Tax payable
1,422
3,891
Tax items relating to previous years
77
-
Change in deferred tax
-16,352
-15,023
Tax expense
-14,853
-11,132
Included as tax expense in the financial statements
-14,853
-11,132
Reconciliation of the nominal tax rate
22%
22%
KNOK
2024
2023
Profit before tax
-46,783
-45,331
Tax calculated at a rate of 22%
-10,292
-9,973
Taxes related to companies in other countries with other tax rate
-2,605
-2,347
Change in tax rate in Lithuania
-83
-
Non-taxable items (22% of permanent differences)
-2,236
884
Unrecognized deferred tax asset
302
304
Effect corrections previous years
1
61
-
Tax expense
-14,853
-11,131
Tax expense: 1) Reversal of provision of tax previous years. Deferred tax assets and deferred tax liabilities: The Company has no liabilities / deferred tax assets that effect Total comprehensive income. Per 31.12.2024 the group has losses carried forward of MNOK 103.4 in the Spanish entity. Deferred tax assets of MNOK 25.9 (MNOK 19.4) associated with this is included in the balance sheet.
Consolidated income
Deferred tax assets Deferred tax liabilities statement
KNOK
2024
2023
2024
2023
2024
2023
Current assets
692
665
3,026
3,756
787
-926
Liabilities
5,218
4,393
-2,432
-2,318
-711
-2,169
Fixed assets
265
248
-16,555
-18,219
-1,680
-532
Losses carried forward
39,804
25,800
-586
-1,331
-14,748
-11,397
Deferred tax
45,979
31,106
-16,547
-18,111
-16,352
-15,023
", "dimensions": { "concept": "ifrs-full:DisclosureOfExpensesExplanatory", "language": "en", "entity": "scheme:5967007LIEEXZXISIG31", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "fact-324": { "value": "Note 5: Other operating expenses
KNOK
2024
2023
Rent, electricity, cleaning
17,337
16,962
Vehicles
13,964
14,317
Other consultancy fees
25,438
38,450
IT
45,765
44,927
Travel
13,222
11,632
Marketing
10,329
9,984
Other costs
31,125
28,972
Total
157,179
165,244
1) Of which TNOK 845 applies to auditors other than EY. Auditors fee are exclusive of VAT, with the exception of transaction expenses.
Specification of recognized auditors fee:
2024
2023
Fee for auditing services
3,928
3,924
Fee for other services
277
145
Total
1
4,206
4,069
", "dimensions": { "concept": "ifrs-full:DisclosureOfOtherOperatingIncomeExpenseExplanatory", "language": "en", "entity": "scheme:5967007LIEEXZXISIG31", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "fact-310": { "value": "1) Of which TNOK 845 applies to auditors other than EY. Auditors fee are exclusive of VAT, with the exception of transaction expenses.
Specification of recognized auditors fee:
2024
2023
Fee for auditing services
3,928
3,924
Fee for other services
277
145
Total
1
4,206
4,069
", "dimensions": { "concept": "ifrs-full:DisclosureOfAuditorsRemunerationExplanatory", "language": "en", "entity": "scheme:5967007LIEEXZXISIG31", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "fact-279": { "value": "Note 6: Investment in associated companies StrongPoint ASA owns 49,9997% of the shares in Spok AS. StrongPoint does not 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 2024: An overview of financial information about the associated company, based on 100%: Dividend Share of Book KNOK Stake Cost price Book value paid in net profit Entity Country Industry 31.12.2024 31.12.2024 31.12.2023 2024 2024 31.12.2024 Spok AS Norway Service company 50.0 % 1,700 853 -300 245 798 Total 1,700 853 -300 245 798
KNOK
2024
Current Fixed Profit for
Entity assets assets Debt Equity Turnover year
Spok AS
5,304
1,442
3,658
1,596
14,954
361
Total
5,304
1,442
3,658
1,596
14,954
361
", "dimensions": { "concept": "ifrs-full:DisclosureOfSignificantInvestmentsInAssociatesExplanatory", "language": "en", "entity": "scheme:5967007LIEEXZXISIG31", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "fact-311": { "value": "Note 6: Investment in associated companies StrongPoint ASA owns 49,9997% of the shares in Spok AS. StrongPoint does not 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 2024: An overview of financial information about the associated company, based on 100%: Dividend Share of Book KNOK Stake Cost price Book value paid in net profit Entity Country Industry 31.12.2024 31.12.2024 31.12.2023 2024 2024 31.12.2024 Spok AS Norway Service company 50.0 % 1,700 853 -300 245 798 Total 1,700 853 -300 245 798
KNOK
2024
Current Fixed Profit for
Entity assets assets Debt Equity Turnover year
Spok AS
5,304
1,442
3,658
1,596
14,954
361
Total
5,304
1,442
3,658
1,596
14,954
361
", "dimensions": { "concept": "ifrs-full:DisclosureOfInvestmentsAccountedForUsingEquityMethodExplanatory", "language": "en", "entity": "scheme:5967007LIEEXZXISIG31", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "fact-280": { "value": "Note 7: Shares in other companies
KNOK
2024
2023
Cost Market Cost Market
Company price value price value
Other long term investments:
Plata Capital Europe AS
476
-
476
-
1X Holding 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
that can be reliably determined, will be booked through the P&L.
In March 2021, StrongPoint announced a partnership with humanoid robotics company 1X
Technologies, giving StrongPoint distribution rights within grocery retail in the countries in which we
operate. The shares owned in 1x Holding AS are not related to this distribution agreement.
The shares in Plata Capital Europe AS (former 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": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "fact-282": { "value": "Note 8: Financial items Currency differences relating to the payment of purchases are recorded as cost of goods and constitutes a cost of KNOK 306 in 2024 (cost of KNOK 1,684 in 2023). Currency differences relating to the payment of sales revenues are recorded as sales revenues and constitutes a revenue of KNOK 1,905 in 2024 (cost of KNOK 953 in 2023). 1) Of which KNOK 1,686 in reversal of earn-out related to the aquisitoin of Hamari in 2023. 2) The interest expenses have increased due to higher interest rates and higher utilization of the overdraft. 3) Other financial expenses are primarily related to restructing of loans and financial liabilities.
KNOK
2024
2023
Interest income
3,503
1,604
Currency adjustment bank and unpaid receivables and liabilities
9,466
9,818
Profit from associated companies
245
191
Other financial income
1
2,070
150
Total financial income
15,284
11,763
Interest expense
2
-12,794
-6,924
Interest expenses leasing IFRS 16
-4,507
-4,297
Currency adjustment bank and unpaid receivables and liabilities
111
-1,840
Other financial expenses
3
-5,398
-4,585
Total financial expenses
-22,588
-17,646
Net financial items
-7,304
-5,884
", "dimensions": { "concept": "ifrs-full:DisclosureOfFinanceIncomeExpenseExplanatory", "language": "en", "entity": "scheme:5967007LIEEXZXISIG31", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "fact-313": { "value": "Note 8: Financial items Currency differences relating to the payment of purchases are recorded as cost of goods and constitutes a cost of KNOK 306 in 2024 (cost of KNOK 1,684 in 2023). Currency differences relating to the payment of sales revenues are recorded as sales revenues and constitutes a revenue of KNOK 1,905 in 2024 (cost of KNOK 953 in 2023). 1) Of which KNOK 1,686 in reversal of earn-out related to the aquisitoin of Hamari in 2023. 2) The interest expenses have increased due to higher interest rates and higher utilization of the overdraft. 3) Other financial expenses are primarily related to restructing of loans and financial liabilities.
KNOK
2024
2023
Interest income
3,503
1,604
Currency adjustment bank and unpaid receivables and liabilities
9,466
9,818
Profit from associated companies
245
191
Other financial income
1
2,070
150
Total financial income
15,284
11,763
Interest expense
2
-12,794
-6,924
Interest expenses leasing IFRS 16
-4,507
-4,297
Currency adjustment bank and unpaid receivables and liabilities
111
-1,840
Other financial expenses
3
-5,398
-4,585
Total financial expenses
-22,588
-17,646
Net financial items
-7,304
-5,884
", "dimensions": { "concept": "ifrs-full:DisclosureOfFinanceIncomeExplanatory", "language": "en", "entity": "scheme:5967007LIEEXZXISIG31", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "fact-325": { "value": "Note 8: Financial items Currency differences relating to the payment of purchases are recorded as cost of goods and constitutes a cost of KNOK 306 in 2024 (cost of KNOK 1,684 in 2023). Currency differences relating to the payment of sales revenues are recorded as sales revenues and constitutes a revenue of KNOK 1,905 in 2024 (cost of KNOK 953 in 2023). 1) Of which KNOK 1,686 in reversal of earn-out related to the aquisitoin of Hamari in 2023. 2) The interest expenses have increased due to higher interest rates and higher utilization of the overdraft. 3) Other financial expenses are primarily related to restructing of loans and financial liabilities.
KNOK
2024
2023
Interest income
3,503
1,604
Currency adjustment bank and unpaid receivables and liabilities
9,466
9,818
Profit from associated companies
245
191
Other financial income
1
2,070
150
Total financial income
15,284
11,763
Interest expense
2
-12,794
-6,924
Interest expenses leasing IFRS 16
-4,507
-4,297
Currency adjustment bank and unpaid receivables and liabilities
111
-1,840
Other financial expenses
3
-5,398
-4,585
Total financial expenses
-22,588
-17,646
Net financial items
-7,304
-5,884
", "dimensions": { "concept": "ifrs-full:DisclosureOfFinanceCostExplanatory", "language": "en", "entity": "scheme:5967007LIEEXZXISIG31", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "fact-335": { "value": "Note 8: Financial items Currency differences relating to the payment of purchases are recorded as cost of goods and constitutes a cost of KNOK 306 in 2024 (cost of KNOK 1,684 in 2023). Currency differences relating to the payment of sales revenues are recorded as sales revenues and constitutes a revenue of KNOK 1,905 in 2024 (cost of KNOK 953 in 2023). 1) Of which KNOK 1,686 in reversal of earn-out related to the aquisitoin of Hamari in 2023. 2) The interest expenses have increased due to higher interest rates and higher utilization of the overdraft. 3) Other financial expenses are primarily related to restructing of loans and financial liabilities.
KNOK
2024
2023
Interest income
3,503
1,604
Currency adjustment bank and unpaid receivables and liabilities
9,466
9,818
Profit from associated companies
245
191
Other financial income
1
2,070
150
Total financial income
15,284
11,763
Interest expense
2
-12,794
-6,924
Interest expenses leasing IFRS 16
-4,507
-4,297
Currency adjustment bank and unpaid receivables and liabilities
111
-1,840
Other financial expenses
3
-5,398
-4,585
Total financial expenses
-22,588
-17,646
Net financial items
-7,304
-5,884
", "dimensions": { "concept": "ifrs-full:DisclosureOfInterestIncomeExplanatory", "language": "en", "entity": "scheme:5967007LIEEXZXISIG31", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "fact-340": { "value": "Note 8: Financial items Currency differences relating to the payment of purchases are recorded as cost of goods and constitutes a cost of KNOK 306 in 2024 (cost of KNOK 1,684 in 2023). Currency differences relating to the payment of sales revenues are recorded as sales revenues and constitutes a revenue of KNOK 1,905 in 2024 (cost of KNOK 953 in 2023). 1) Of which KNOK 1,686 in reversal of earn-out related to the aquisitoin of Hamari in 2023. 2) The interest expenses have increased due to higher interest rates and higher utilization of the overdraft. 3) Other financial expenses are primarily related to restructing of loans and financial liabilities.
KNOK
2024
2023
Interest income
3,503
1,604
Currency adjustment bank and unpaid receivables and liabilities
9,466
9,818
Profit from associated companies
245
191
Other financial income
1
2,070
150
Total financial income
15,284
11,763
Interest expense
2
-12,794
-6,924
Interest expenses leasing IFRS 16
-4,507
-4,297
Currency adjustment bank and unpaid receivables and liabilities
111
-1,840
Other financial expenses
3
-5,398
-4,585
Total financial expenses
-22,588
-17,646
Net financial items
-7,304
-5,884
", "dimensions": { "concept": "ifrs-full:DisclosureOfInterestIncomeExpenseExplanatory", "language": "en", "entity": "scheme:5967007LIEEXZXISIG31", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "fact-344": { "value": "Note 8: Financial items Currency differences relating to the payment of purchases are recorded as cost of goods and constitutes a cost of KNOK 306 in 2024 (cost of KNOK 1,684 in 2023). Currency differences relating to the payment of sales revenues are recorded as sales revenues and constitutes a revenue of KNOK 1,905 in 2024 (cost of KNOK 953 in 2023). 1) Of which KNOK 1,686 in reversal of earn-out related to the aquisitoin of Hamari in 2023. 2) The interest expenses have increased due to higher interest rates and higher utilization of the overdraft. 3) Other financial expenses are primarily related to restructing of loans and financial liabilities.
KNOK
2024
2023
Interest income
3,503
1,604
Currency adjustment bank and unpaid receivables and liabilities
9,466
9,818
Profit from associated companies
245
191
Other financial income
1
2,070
150
Total financial income
15,284
11,763
Interest expense
2
-12,794
-6,924
Interest expenses leasing IFRS 16
-4,507
-4,297
Currency adjustment bank and unpaid receivables and liabilities
111
-1,840
Other financial expenses
3
-5,398
-4,585
Total financial expenses
-22,588
-17,646
Net financial items
-7,304
-5,884
", "dimensions": { "concept": "ifrs-full:DisclosureOfInterestExpenseExplanatory", "language": "en", "entity": "scheme:5967007LIEEXZXISIG31", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "fact-312": { "value": "Note 9: Payroll costs and number of employees Accounting policies 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. Salaries and remuneration for Executive Management Team and Directors 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 our webpages. 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 discount is recognized as a personnel cost.
KNOK
2024
2023
Salaries
263,064
262,080
Severance packages
8,864
8,382
Director's fee and Nomination Committee
2,872
2,240
Social fee
47,125
46,449
Pension costs
16,353
15,728
Other payroll costs
28,230
31,903
Total payroll costs
366,508
366,782
Number of full-time employees employed during the year:
494
514
Number of full-time employees at the end of the year:
492
524
KNOK
2024
2023
Board of Directors
Director's fee
2,050
2,082
Executive Management Team
Salaries
16,690
19,200
Bonus
2,162
2,771
Company car
1,092
1,022
Exercised options
392
2,156
Other remuneration
1,469
902
Pension expenses
1,789
1,866
Total salaries and remuneration
25,645
29,998
The following members of the Executive Management Team and Board of Directors own shares or share options in the company per 31.12: 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. 4) Member of the Board until 25 April 2024
Shares per Shares per Options per Options per
Name, position 31.12.24 31.12.23 31.12.24 31.12.23
Board of Directors
Morthen Johannessen, Chairman
1
147,584
112,135
Ingeborg Molden Hegstad, Director
2
30,826
25,602
Cathrine Laksfoss, Director
10,435
5,211
Audun Nordtveit, Director
28,296
23,072
P\u00e5l Wibe, Director
3,868
Peter Wir\u00e9n, former Director
4
-
40,607
Total
221,009
166,020
-
-
Shares per Shares per Options per Options per
Name, position 31.12.24 31.12.23 31.12.24 31.12.23
Executive Management Team
Jacob Tveraabak, CEO
3
250,146
230,843
1,000,000
750,000
Marius Drefvelin CFO from 01.09.23
21,364
-
275,000
150,000
Knut Olav Nyhus Olsen, SVP People
46,995
31,227
350,000
275,000
& Organisation, and head of Marketing
and Internal Communication
Gisle Elvebakken, SVP Norway to
31.08.24
-
47,645
-
350,000
Julius Stulpinas, SVP Technology &
49,321
38,365
325,000
250,000
supply chain
Rimantas Ma\u017eulis, SVP Baltics
44,951
30,523
400,000
325,000
Lorena G\u00f3mez, SVP Spain
35,119
19,846
300,000
200,000
Chris Mackie, SVP E-commerce to
31.01.24
-
25,104
-
125,000
Magnus Ros\u00e9n, SVP Sweden
27,307
15,886
275,000
175,000
Alex Eveleigh, SVP UK & Ireland from
15.01.24
-
-
100,000
Total
475,203
439,439
3,025,000
2,600,000
Members of the Extended Group Management Team and key employees have stock options: Vesting conditions * Weighted average parameters at grant of instrument Outstanding instruments Year End - Option
Total costs and Social Security Provisions (KNOK)
2024
2023
Total IFRS cost
4 222
6 827
Total Social security provisions
10
-
432
4,232
6,395
Granted instruments
2024
2023
Instrument
Option
Option
Quantity 31.12 (instruments)
1 230 000
1 335 000
Quantity 31.12 (shares)
1 230 000
1 335 000
Contractual life *
5.00
5.00
Strike price *
10.92
21.34
Share price *
10.95
21.16
Expected lifetime *
3.25
3.25
Volatility *
40.44%
43.11%
Interest rate *
3.69%
3.31%
Dividend *
0.00
0.00
FV per instrument *
3.58
7.07
Quantity and weighted average prices
Weighted
Number of Average
Activity instruments Strike Price
Outstanding OB (01.01.2024)
3,422,500
22.33
Granted
1,230,000
10.92
Terminated
-557,500
21.95
Outstanding CB (31.12.2024)
4,095,000
18.98
Vested CB
1,772,500
23.06
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 annualized 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.
Outstanding Instruments Overview
Strike Number of Weighted Average Vested instruments
price instruments remaining contractual life 31.12.2024
10.92
1,230,000
4.37
-
14.68
500,000
0.84
500,000
18.00
150,000
3.67
37,500
21.77
890,000
3.36
222,500
21.91
625,000
2.36
312,500
30.23
700,000
1.35
700,000
Total
4,095,000
1,772,500
", "dimensions": { "concept": "ifrs-full:DisclosureOfEmployeeBenefitsExplanatory", "language": "en", "entity": "scheme:5967007LIEEXZXISIG31", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "fact-326": { "value": "Salaries and remuneration for Executive Management Team and Directors 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 our webpages.
KNOK
2024
2023
Board of Directors
Director's fee
2,050
2,082
Executive Management Team
Salaries
16,690
19,200
Bonus
2,162
2,771
Company car
1,092
1,022
Exercised options
392
2,156
Other remuneration
1,469
902
Pension expenses
1,789
1,866
Total salaries and remuneration
25,645
29,998
The following members of the Executive Management Team and Board of Directors own shares or share options in the company per 31.12: 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. 4) Member of the Board until 25 April 2024
Shares per Shares per Options per Options per
Name, position 31.12.24 31.12.23 31.12.24 31.12.23
Board of Directors
Morthen Johannessen, Chairman
1
147,584
112,135
Ingeborg Molden Hegstad, Director
2
30,826
25,602
Cathrine Laksfoss, Director
10,435
5,211
Audun Nordtveit, Director
28,296
23,072
P\u00e5l Wibe, Director
3,868
Peter Wir\u00e9n, former Director
4
-
40,607
Total
221,009
166,020
-
-
Shares per Shares per Options per Options per
Name, position 31.12.24 31.12.23 31.12.24 31.12.23
Executive Management Team
Jacob Tveraabak, CEO
3
250,146
230,843
1,000,000
750,000
Marius Drefvelin CFO from 01.09.23
21,364
-
275,000
150,000
Knut Olav Nyhus Olsen, SVP People
46,995
31,227
350,000
275,000
& Organisation, and head of Marketing
and Internal Communication
Gisle Elvebakken, SVP Norway to
31.08.24
-
47,645
-
350,000
Julius Stulpinas, SVP Technology &
49,321
38,365
325,000
250,000
supply chain
Rimantas Ma\u017eulis, SVP Baltics
44,951
30,523
400,000
325,000
Lorena G\u00f3mez, SVP Spain
35,119
19,846
300,000
200,000
Chris Mackie, SVP E-commerce to
31.01.24
-
25,104
-
125,000
Magnus Ros\u00e9n, SVP Sweden
27,307
15,886
275,000
175,000
Alex Eveleigh, SVP UK & Ireland from
15.01.24
-
-
100,000
Total
475,203
439,439
3,025,000
2,600,000
Members of the Extended Group Management Team and key employees have stock options: Vesting conditions * Weighted average parameters at grant of instrument Outstanding instruments Year End - Option
Total costs and Social Security Provisions (KNOK)
2024
2023
Total IFRS cost
4 222
6 827
Total Social security provisions
10
-
432
4,232
6,395
Granted instruments
2024
2023
Instrument
Option
Option
Quantity 31.12 (instruments)
1 230 000
1 335 000
Quantity 31.12 (shares)
1 230 000
1 335 000
Contractual life *
5.00
5.00
Strike price *
10.92
21.34
Share price *
10.95
21.16
Expected lifetime *
3.25
3.25
Volatility *
40.44%
43.11%
Interest rate *
3.69%
3.31%
Dividend *
0.00
0.00
FV per instrument *
3.58
7.07
Quantity and weighted average prices
Weighted
Number of Average
Activity instruments Strike Price
Outstanding OB (01.01.2024)
3,422,500
22.33
Granted
1,230,000
10.92
Terminated
-557,500
21.95
Outstanding CB (31.12.2024)
4,095,000
18.98
Vested CB
1,772,500
23.06
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 annualized 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. Outstanding Instruments Overview
Strike Number of Weighted Average Vested instruments
price instruments remaining contractual life 31.12.2024
10.92
1,230,000
4.37
-
14.68
500,000
0.84
500,000
18.00
150,000
3.67
37,500
21.77
890,000
3.36
222,500
21.91
625,000
2.36
312,500
30.23
700,000
1.35
700,000
Total
4,095,000
1,772,500
", "dimensions": { "concept": "ifrs-full:DisclosureOfInformationAboutKeyManagementPersonnelExplanatory", "language": "en", "entity": "scheme:5967007LIEEXZXISIG31", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "fact-347": { "value": "Accounting policies 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. ", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForEmployeeBenefitsExplanatory", "language": "en", "entity": "scheme:5967007LIEEXZXISIG31", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "fact-281": { "value": "Number of full-time employees employed during the year: 494 514 Number of full-time employees at the end of the year: 492 524 ", "dimensions": { "concept": "ifrs-full:DisclosureOfInformationAboutEmployeesExplanatory", "language": "en", "entity": "scheme:5967007LIEEXZXISIG31", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "fact-349": { "value": "dated cash flow statement dated statement of changes in equity General information Accounting principles Segment information Changes in the group structure Accounting policies 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\u20135 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": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "fact-283": { "value": "Note 10: Tangible assets Tangible assets, company owned Some equipment has been fully depreciated per 31 December 2024 but is still in use. StrongPoint has no contractual purchasing obligations.
Equipment Total Equipment Total
KNOK Land Buildings owned 2024 Land Buildings owned 2023
Acquisition costs 01.01
825
8,731
94,764
104,320
825
8,731
79,880
89,436
Addition
8,581
8,581
13,845
13,845
Divestment
-2,056
-4,773
-6,829
-4,434
-4,434
Currency exchange differences
4,862
4,862
5,473
5,473
Acquisition costs 31.12
825
6,675
103,434
110,933
825
8,731
94,764
104,320
Accumulated depreciations 01.01
-825
-8,731
-64,366
-73,922
-825
-8,731
-56,125
-65,681
Depreciations
-5,649
-5,649
-4,537
-4,537
Depreciations of the year regarding rental machines is
booked as cost of gods sold
-4,417
-4,417
-4,308
-4,308
Divestment
2,056
4,467
6,523
4,330
4,330
Currency exchange differences
-3,720
-3,720
-3,727
-3,727
Accumulated depreciations 31.12
-825
-6,675
-73,686
-81,186
-825
-8,731
-64,366
-73,922
Book value 31.12
-
-
29,748
29,748
-
-
30,397
30,397
Depreciation ratio
10-33%
10-33%
Depreciation method
Linear
Linear
Accounting policies 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\u20135 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.
Tangible assets, right of use
See note 16 for information about the commitments related to the leasing.
Right of use Right of use cars Total Right of Right of use cars Total
KNOK offices and equipment 2024 use offices and equipment 2023
Acquisition costs 01.01
147,642
44,489
192,131
113,840
35,140
148,980
Addition
10,477
5,651
16,129
25,872
6,841
32,713
Divestment
-
-899
-899
-
371
371
Currency exchange differences
6,351
1,255
7,607
7,930
2,136
10,067
Acquisition costs 31.12
164,470
50,496
214,967
147,642
44,489
192,131
Accumulated depreciations 01.01
-62,815
-29,748
-92,562
-44,795
-21,486
-66,281
Depreciations
-17,196
-6,417
-23,613
-15,510
-6,950
-22,459
Currency exchange differences
-2,273
129
-2,144
-2,510
-1,312
-3,822
Accumulated depreciations 31.12
-82,284
-36,036
-118,319
-62,815
-29,748
-92,562
Book value 31.12
82,187
14,461
96,647
84,827
14,741
99,568
Depreciation ratio
10-33%
10-33%
10-33%
10-33%
", "dimensions": { "concept": "ifrs-full:DisclosureOfPropertyPlantAndEquipmentExplanatory", "language": "en", "entity": "scheme:5967007LIEEXZXISIG31", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "fact-348": { "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": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "fact-314": { "value": "Tangible assets, right of use See note 16 for information about the commitments related to the leasing.
Right of use Right of use cars Total Right of Right of use cars Total
KNOK offices and equipment 2024 use offices and equipment 2023
Acquisition costs 01.01
147,642
44,489
192,131
113,840
35,140
148,980
Addition
10,477
5,651
16,129
25,872
6,841
32,713
Divestment
-
-899
-899
-
371
371
Currency exchange differences
6,351
1,255
7,607
7,930
2,136
10,067
Acquisition costs 31.12
164,470
50,496
214,967
147,642
44,489
192,131
Accumulated depreciations 01.01
-62,815
-29,748
-92,562
-44,795
-21,486
-66,281
Depreciations
-17,196
-6,417
-23,613
-15,510
-6,950
-22,459
Currency exchange differences
-2,273
129
-2,144
-2,510
-1,312
-3,822
Accumulated depreciations 31.12
-82,284
-36,036
-118,319
-62,815
-29,748
-92,562
Book value 31.12
82,187
14,461
96,647
84,827
14,741
99,568
Depreciation ratio
10-33%
10-33%
10-33%
10-33%
", "dimensions": { "concept": "ifrs-full:DisclosureOfQuantitativeInformationAboutRightofuseAssetsExplanatory", "language": "en", "entity": "scheme:5967007LIEEXZXISIG31", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "fact-284": { "value": "Note 11: Intangible assets Accounting policies Intangible assets Intangible assets are recognized at their cost price, less any accumulated write-downs and amortization, 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. In 2024 there have been expensed KNOK 39,549 (KNOK 49,770 in 2023) in research and development costs. Intangible assets regarding brand are related to CashGuard and ALS.
2024
2023
Other intangible assets (KNOK)
Technology
Brand
Customer
Software
Total
Technology
Brand
Customer
Software
Total
Acquisition costs 01.01
147,040
31,502
95,834
13,174
287,550
107,510
31,502
92,425
9,376
240,813
Acquired by acquisition
-
-
-
-
-
16,105
-
3,409
-
19,514
Investment
27,916
-
-
3,628
31,545
23,425
-
-
3,798
27,223
Acquisition costs 31.12
174,957
31,502
95,834
16,802
319,095
147,040
31,502
95,834
13,174
287,550
Accumulated impairments and amortizations 01.01
-105,655
-3,371
-51,581
-8,390
-168,998
-105,655
-1,164
-42,632
-8,383
-157,834
Accumulated impairments and amortizations 31.12
-105,655
-5,679
-61,521
-8,398
-181,254
-105,655
-3,371
-51,581
-8,390
-168,998
Translation differences
95
4,430
10,650
-690
14,485
-1,855
3,383
6,129
-883
6,774
Book value 31.12
69,397
30,252
44,963
7,714
152,326
39,530
31,513
50,382
3,901
125,327
Amortizations of the year
-
-2,308
-9,939
-8
-12,256
-
-2,207
-8,949
-7
-11,163
This year change in translation differences
1,950
1,047
4,369
193
7,559
0
2,446
4,792
7
7,245
Amortizations schedule
10 and 15
Impairment
1-7 years
4-7 years
10 and 15
Impairment
1-7 years
4-7 years
years test years test
Amortizations ratio
7-10%
14-100%
14-25%
7-10%
14-100%
14-25%
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 and development costs related to our own POS solution (Tree Commerce) in the Baltics. The development in Spain is performed through a new legal company 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 recognized where there is reasonable assurance that the grant will be received and all attached conditions will be complied with.
Goodwill is not depreciated. Impairment tests are carried out every year. The impairment test per 31 December 2024 has been carried out with the segments Scandinavia and International incl. R&D as the
cash generating units.
StrongPoint StrongPoint StrongPoint StrongPoint Total Total
Goodwill (KNOK) StrongPoint AS StrongPoint AB Technology AB Baltic S.L.U E-com AB ALS Hamari 2024 2023
Acquisition costs 01.01
15,976
2,612
81,127
23,318
4,431
25,889
38,268
2,914
194,535
191,620
Acquisition
-
-
2,914
Acquisition costs 31.12
15,976
2,612
81,127
23,318
4,431
25,889
38,268
2,914
194,535
194,535
Accumulated impairment 01.01
-14,689
-229
-
-23,345
-
-
-
-
-38,263
-38,263
Accumulated impairment 31.12
-14,689
-229
-
-23,345
-
-
-
-
-38,263
-38,263
Translation differences
-
-
11,478
3,254
1,408
1,172
6,148
144
23,604
18,054
Book value 31.12
1,286
2,383
92,605
3,227
5,839
27,060
44,416
3,058
179,875
174,325
This year change in translation differences
-
-
1,466
152
274
429
3,085
-
5,407
11,492
Goodwill (KNOK)
Acquired company
Cash generating unit
31.12.2024
31.12.2023
StrongPoint AS
Scandinavia
1,286
1,286
StrongPoint AB
Scandinavia
2,383
2,383
StrongPoint Technology AB
Scandinavia
92,605
91,139
StrongPoint UAB
International incl. R&D
3,227
3,075
StrongPoint S.L.U
International incl. R&D
5,839
5,564
StrongPoint E-com AB
Scandinavia
27,060
26,632
StrongPoint ALS
International incl. R&D
44,416
41,331
StrongPoint Hamari Oy
International incl. R&D
3,058
2,914
Total goodwill
179,875
174,325
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 assumptions are 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 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. When applying long term annual growth rates of 8 to 10% on revenue and 5 to 6% on operating
costs, there is substantial impairment headroom. This corresponds to EBITDA margin of 6 to 9%
and is considered to be achievable in the long term. However, if assuming long term annual revenue
growth of 5 to 6% and the operating costs continuing to increase by 5%, the EBITDA margin will
convert to 3% and consequently lead to an impairment in both segments.
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": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "fact-315": { "value": "Note 11: Intangible assets Accounting policies Intangible assets Intangible assets are recognized at their cost price, less any accumulated write-downs and amortization, 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. In 2024 there have been expensed KNOK 39,549 (KNOK 49,770 in 2023) in research and development costs. Intangible assets regarding brand are related to CashGuard and ALS.
2024
2023
Other intangible assets (KNOK)
Technology
Brand
Customer
Software
Total
Technology
Brand
Customer
Software
Total
Acquisition costs 01.01
147,040
31,502
95,834
13,174
287,550
107,510
31,502
92,425
9,376
240,813
Acquired by acquisition
-
-
-
-
-
16,105
-
3,409
-
19,514
Investment
27,916
-
-
3,628
31,545
23,425
-
-
3,798
27,223
Acquisition costs 31.12
174,957
31,502
95,834
16,802
319,095
147,040
31,502
95,834
13,174
287,550
Accumulated impairments and amortizations 01.01
-105,655
-3,371
-51,581
-8,390
-168,998
-105,655
-1,164
-42,632
-8,383
-157,834
Accumulated impairments and amortizations 31.12
-105,655
-5,679
-61,521
-8,398
-181,254
-105,655
-3,371
-51,581
-8,390
-168,998
Translation differences
95
4,430
10,650
-690
14,485
-1,855
3,383
6,129
-883
6,774
Book value 31.12
69,397
30,252
44,963
7,714
152,326
39,530
31,513
50,382
3,901
125,327
Amortizations of the year
-
-2,308
-9,939
-8
-12,256
-
-2,207
-8,949
-7
-11,163
This year change in translation differences
1,950
1,047
4,369
193
7,559
0
2,446
4,792
7
7,245
Amortizations schedule
10 and 15
Impairment
1-7 years
4-7 years
10 and 15
Impairment
1-7 years
4-7 years
years test years test
Amortizations ratio
7-10%
14-100%
14-25%
7-10%
14-100%
14-25%
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 and development costs related to our own POS solution
(Tree Commerce) in the Baltics. The development in Spain is performed through a new legal
company 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
recognized where there is reasonable assurance that the grant will be received and all attached
conditions will be complied with.
Goodwill is not depreciated. Impairment tests are carried out every year. The impairment test per 31 December 2024 has been carried out with the segments Scandinavia and International incl. R&D as the cash generating units.
StrongPoint StrongPoint StrongPoint StrongPoint Total Total
Goodwill (KNOK) StrongPoint AS StrongPoint AB Technology AB Baltic S.L.U E-com AB ALS Hamari 2024 2023
Acquisition costs 01.01
15,976
2,612
81,127
23,318
4,431
25,889
38,268
2,914
194,535
191,620
Acquisition
-
-
2,914
Acquisition costs 31.12
15,976
2,612
81,127
23,318
4,431
25,889
38,268
2,914
194,535
194,535
Accumulated impairment 01.01
-14,689
-229
-
-23,345
-
-
-
-
-38,263
-38,263
Accumulated impairment 31.12
-14,689
-229
-
-23,345
-
-
-
-
-38,263
-38,263
Translation differences
-
-
11,478
3,254
1,408
1,172
6,148
144
23,604
18,054
Book value 31.12
1,286
2,383
92,605
3,227
5,839
27,060
44,416
3,058
179,875
174,325
This year change in translation differences
-
-
1,466
152
274
429
3,085
-
5,407
11,492
Goodwill (KNOK)
Acquired company
Cash generating unit
31.12.2024
31.12.2023
StrongPoint AS
Scandinavia
1,286
1,286
StrongPoint AB
Scandinavia
2,383
2,383
StrongPoint Technology AB
Scandinavia
92,605
91,139
StrongPoint UAB
International incl. R&D
3,227
3,075
StrongPoint S.L.U
International incl. R&D
5,839
5,564
StrongPoint E-com AB
Scandinavia
27,060
26,632
StrongPoint ALS
International incl. R&D
44,416
41,331
StrongPoint Hamari Oy
International incl. R&D
3,058
2,914
Total goodwill
179,875
174,325
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 assumptions are 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 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. When applying long term annual growth rates of 8 to 10% on revenue and 5 to 6% on operating costs, there is substantial impairment headroom. This corresponds to EBITDA margin of 6 to 9% and is considered to be achievable in the long term. However, if assuming long term annual revenue growth of 5 to 6% and the operating costs continuing to increase by 5%, the EBITDA margin will convert to 3% and consequently lead to an impairment in both segments. 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": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "fact-327": { "value": "Note 11: Intangible assets Accounting policies Intangible assets Intangible assets are recognized at their cost price, less any accumulated write-downs and amortization, 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. In 2024 there have been expensed KNOK 39,549 (KNOK 49,770 in 2023) in research and development costs. Intangible assets regarding brand are related to CashGuard and ALS.
2024
2023
Other intangible assets (KNOK)
Technology
Brand
Customer
Software
Total
Technology
Brand
Customer
Software
Total
Acquisition costs 01.01
147,040
31,502
95,834
13,174
287,550
107,510
31,502
92,425
9,376
240,813
Acquired by acquisition
-
-
-
-
-
16,105
-
3,409
-
19,514
Investment
27,916
-
-
3,628
31,545
23,425
-
-
3,798
27,223
Acquisition costs 31.12
174,957
31,502
95,834
16,802
319,095
147,040
31,502
95,834
13,174
287,550
Accumulated impairments and amortizations 01.01
-105,655
-3,371
-51,581
-8,390
-168,998
-105,655
-1,164
-42,632
-8,383
-157,834
Accumulated impairments and amortizations 31.12
-105,655
-5,679
-61,521
-8,398
-181,254
-105,655
-3,371
-51,581
-8,390
-168,998
Translation differences
95
4,430
10,650
-690
14,485
-1,855
3,383
6,129
-883
6,774
Book value 31.12
69,397
30,252
44,963
7,714
152,326
39,530
31,513
50,382
3,901
125,327
Amortizations of the year
-
-2,308
-9,939
-8
-12,256
-
-2,207
-8,949
-7
-11,163
This year change in translation differences
1,950
1,047
4,369
193
7,559
0
2,446
4,792
7
7,245
Amortizations schedule
10 and 15
Impairment
1-7 years
4-7 years
10 and 15
Impairment
1-7 years
4-7 years
years test years test
Amortizations ratio
7-10%
14-100%
14-25%
7-10%
14-100%
14-25%
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 and development costs related to our own POS solution (Tree Commerce) in the Baltics. The development in Spain is performed through a new legal company 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 recognized where there is reasonable assurance that the grant will be received and all attached conditions will be complied with. Goodwill is not depreciated. Impairment tests are carried out every year. The impairment test per 31 December 2024 has been carried out with the segments Scandinavia and International incl. R&D as the cash generating units.
StrongPoint StrongPoint StrongPoint StrongPoint Total Total
Goodwill (KNOK) StrongPoint AS StrongPoint AB Technology AB Baltic S.L.U E-com AB ALS Hamari 2024 2023
Acquisition costs 01.01
15,976
2,612
81,127
23,318
4,431
25,889
38,268
2,914
194,535
191,620
Acquisition
-
-
2,914
Acquisition costs 31.12
15,976
2,612
81,127
23,318
4,431
25,889
38,268
2,914
194,535
194,535
Accumulated impairment 01.01
-14,689
-229
-
-23,345
-
-
-
-
-38,263
-38,263
Accumulated impairment 31.12
-14,689
-229
-
-23,345
-
-
-
-
-38,263
-38,263
Translation differences
-
-
11,478
3,254
1,408
1,172
6,148
144
23,604
18,054
Book value 31.12
1,286
2,383
92,605
3,227
5,839
27,060
44,416
3,058
179,875
174,325
This year change in translation differences
-
-
1,466
152
274
429
3,085
-
5,407
11,492
Goodwill (KNOK)
Acquired company
Cash generating unit
31.12.2024
31.12.2023
StrongPoint AS
Scandinavia
1,286
1,286
StrongPoint AB
Scandinavia
2,383
2,383
StrongPoint Technology AB
Scandinavia
92,605
91,139
StrongPoint UAB
International incl. R&D
3,227
3,075
StrongPoint S.L.U
International incl. R&D
5,839
5,564
StrongPoint E-com AB
Scandinavia
27,060
26,632
StrongPoint ALS
International incl. R&D
44,416
41,331
StrongPoint Hamari Oy
International incl. R&D
3,058
2,914
Total goodwill
179,875
174,325
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 assumptions are 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 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. When applying long term annual growth rates of 8 to 10% on revenue and 5 to 6% on operating costs, there is substantial impairment headroom. This corresponds to EBITDA margin of 6 to 9% and is considered to be achievable in the long term. However, if assuming long term annual revenue growth of 5 to 6% and the operating costs continuing to increase by 5%, the EBITDA margin will convert to 3% and consequently lead to an impairment in both segments. 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": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "fact-341": { "value": "Note 11: Intangible assets Accounting policies Intangible assets Intangible assets are recognized at their cost price, less any accumulated write-downs and amortization, 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. In 2024 there have been expensed KNOK 39,549 (KNOK 49,770 in 2023) in research and development costs. Intangible assets regarding brand are related to CashGuard and ALS.
2024
2023
Other intangible assets (KNOK)
Technology
Brand
Customer
Software
Total
Technology
Brand
Customer
Software
Total
Acquisition costs 01.01
147,040
31,502
95,834
13,174
287,550
107,510
31,502
92,425
9,376
240,813
Acquired by acquisition
-
-
-
-
-
16,105
-
3,409
-
19,514
Investment
27,916
-
-
3,628
31,545
23,425
-
-
3,798
27,223
Acquisition costs 31.12
174,957
31,502
95,834
16,802
319,095
147,040
31,502
95,834
13,174
287,550
Accumulated impairments and amortizations 01.01
-105,655
-3,371
-51,581
-8,390
-168,998
-105,655
-1,164
-42,632
-8,383
-157,834
Accumulated impairments and amortizations 31.12
-105,655
-5,679
-61,521
-8,398
-181,254
-105,655
-3,371
-51,581
-8,390
-168,998
Translation differences
95
4,430
10,650
-690
14,485
-1,855
3,383
6,129
-883
6,774
Book value 31.12
69,397
30,252
44,963
7,714
152,326
39,530
31,513
50,382
3,901
125,327
Amortizations of the year
-
-2,308
-9,939
-8
-12,256
-
-2,207
-8,949
-7
-11,163
This year change in translation differences
1,950
1,047
4,369
193
7,559
0
2,446
4,792
7
7,245
Amortizations schedule
10 and 15
Impairment
1-7 years
4-7 years
10 and 15
Impairment
1-7 years
4-7 years
years test years test
Amortizations ratio
7-10%
14-100%
14-25%
7-10%
14-100%
14-25%
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 and development costs related to our own POS solution (Tree Commerce) in the Baltics. The development in Spain is performed through a new legal company 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 recognized where there is reasonable assurance that the grant will be received and all attached conditions will be complied with. ", "dimensions": { "concept": "ifrs-full:DisclosureOfResearchAndDevelopmentExpenseExplanatory", "language": "en", "entity": "scheme:5967007LIEEXZXISIG31", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "fact-336": { "value": "
Accounting policies
Intangible assets
Intangible assets are recognized at their cost price, less any accumulated write-downs and
amortization, 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 and development costs related to our own POS solution (Tree Commerce) in the Baltics. The development in Spain is performed through a new legal company 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 recognized where there is reasonable assurance that the grant will be received and all attached conditions will be complied with. 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 assumptions are 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 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. When applying long term annual growth rates of 8 to 10% on revenue and 5 to 6% on operating costs, there is substantial impairment headroom. This corresponds to EBITDA margin of 6 to 9% and is considered to be achievable in the long term. However, if assuming long term annual revenue growth of 5 to 6% and the operating costs continuing to increase by 5%, the EBITDA margin will convert to 3% and consequently lead to an impairment in both segments. 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": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "fact-362": { "value": "Accounting policies Intangible assets Intangible assets are recognized at their cost price, less any accumulated write-downs and amortization, 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 and development costs related to our own POS solution (Tree Commerce) in the Baltics. The development in Spain is performed through a new legal company 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 recognized 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": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "fact-361": { "value": "Accounting policies Intangible assets Intangible assets are recognized at their cost price, less any accumulated write-downs and amortization, 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 and development costs related to our own POS solution (Tree Commerce) in the Baltics. The development in Spain is performed through a new legal company 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 recognized 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": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "fact-359": { "value": "Accounting policies Intangible assets Intangible assets are recognized at their cost price, less any accumulated write-downs and amortization, 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 and development costs related to our own POS solution (Tree Commerce) in the Baltics. The development in Spain is performed through a new legal company 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 recognized 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": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "fact-357": { "value": "Accounting policies Intangible assets Intangible assets are recognized at their cost price, less any accumulated write-downs and amortization, 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": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "fact-350": { "value": "Accounting policies Intangible assets Intangible assets are recognized at their cost price, less any accumulated write-downs and amortization, 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 and development costs related to our own POS solution (Tree Commerce) in the Baltics. The development in Spain is performed through a new legal company 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 recognized 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": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "fact-360": { "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": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "fact-363": { "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 and development costs related to our own POS solution (Tree Commerce) in the Baltics. The development in Spain is performed through a new legal company 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 recognized 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": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "fact-286": { "value": "Note 12: Inventories Inventories are measured at the lower of cost and net realizable value. The stock is pledged as security for loans, see note 15. The cost of goods sold of KNOK 779,109 includes direct costs of goods with KNOK 639,014.
Inventories (KNOK)
2024
2023
Inventories
197,292
241,050
Provision for obsolete stock
-24,141
-10,626
Total
173,151
230,424
Provision for obsolete stock (KNOK)
2024
2023
Provision for obsolete stock, opening balance
-10,626
-10,416
Taken to income/charged to expense (-) change in provision
-13,515
-210
Provision for obsolete stock, closing balance
-24,141
-10,626
Accounting policies 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:DisclosureOfInventoriesExplanatory", "language": "en", "entity": "scheme:5967007LIEEXZXISIG31", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "fact-316": { "value": "
The cost of goods sold of KNOK 779,109 includes direct costs of goods with KNOK 639,014.
", "dimensions": { "concept": "ifrs-full:DisclosureOfCostOfSalesExplanatory", "language": "en", "entity": "scheme:5967007LIEEXZXISIG31", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "fact-285": { "value": "Note 13: Other receivables Accounting policies 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. In 2024, Norway and The UK entered factoring arrangements. The financing arrangements have contributed to lower outstanding accounts receivables per 31.12.2024. Other receivables included MNOK 3.9 in expected government grants (Skattefunn) refunds for development costs in 2024 (MNOK 4.6). This was booked as reduction of other operating expenses. The provisions per 31.12.2024 are not directly related to individual customers. Losses on bad debts are classified as other operating expenses in the income statement.
Short term receivables (KNOK)
2024
2023
Accounts receivables
223,238
240,790
Prepaid expenses
28,236
22,032
Other receivables
10,351
14,955
Total short term receivables 31.12
261,826
277,777
Changes in provision for bad debts (KNOK)
2024
2023
01.01
7,243
6,027
Applied provisions
-
-676
Reversed provisions
-393
-594
New provision for bad debt
903
2,486
Total 31.12
7,753
7,243
Aging of accounts receivables (KNOK)
2024
2023
Not due
180,683
154,583
0-3 months
38,269
85,025
3-6 months
3,837
1,182
6-12 months
449
-
Total 31.12
223,238
240,790
long term receivables (KNOK)
2024
2023
Deposit rented offices
896
1,372
Total long term receivables 31.12
896
1,372
", "dimensions": { "concept": "ifrs-full:DisclosureOfTradeAndOtherReceivablesExplanatory", "language": "en", "entity": "scheme:5967007LIEEXZXISIG31", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "fact-328": { "value": "Note 13: Other receivables Accounting policies 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. In 2024, Norway and The UK entered factoring arrangements. The financing arrangements have contributed to lower outstanding accounts receivables per 31.12.2024. Other receivables included MNOK 3.9 in expected government grants (Skattefunn) refunds for development costs in 2024 (MNOK 4.6). This was booked as reduction of other operating expenses. The provisions per 31.12.2024 are not directly related to individual customers. Losses on bad debts are classified as other operating expenses in the income statement.
Short term receivables (KNOK)
2024
2023
Accounts receivables
223,238
240,790
Prepaid expenses
28,236
22,032
Other receivables
10,351
14,955
Total short term receivables 31.12
261,826
277,777
Changes in provision for bad debts (KNOK)
2024
2023
01.01
7,243
6,027
Applied provisions
-
-676
Reversed provisions
-393
-594
New provision for bad debt
903
2,486
Total 31.12
7,753
7,243
Aging of accounts receivables (KNOK)
2024
2023
Not due
180,683
154,583
0-3 months
38,269
85,025
3-6 months
3,837
1,182
6-12 months
449
-
Total 31.12
223,238
240,790
long term receivables (KNOK)
2024
2023
Deposit rented offices
896
1,372
Total long term receivables 31.12
896
1,372
", "dimensions": { "concept": "ifrs-full:DisclosureOfPrepaymentsAndOtherAssetsExplanatory", "language": "en", "entity": "scheme:5967007LIEEXZXISIG31", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "fact-351": { "value": "
Accounting policies
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": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "fact-352": { "value": "Accounting policies 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. In 2024, Norway and The UK entered factoring arrangements. The financing arrangements have contributed to lower outstanding accounts receivables per 31.12.2024. ", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForTradeAndOtherReceivablesExplanatory", "language": "en", "entity": "scheme:5967007LIEEXZXISIG31", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "fact-288": { "value": "Note 15: Interest-bearing debt and secured debt Debt per 31.12. and specification of terms. Figures in KNOK 1) The Groups\u2019 main bank connection has loan covenants in relation equity %. The loan agreements are measured on a quarterly basis. See note 17 for more information. All loans are secured.
Type of loan
2024
2023
Borrowing terms
Average nominal interest for 2024
Multi-currency, group credit account \u00b9
-
94,153
Overdraft limit MNOK 150, not time limited
5.80%
Credit facilities
120,000
-
Repayment/renewal in 2025
10.49%
Long term loan
5,229
8,646
Quarterly repayments
1.72%
Short term debt
4,253
4,299
Repayment in 2025
2.6%-7.99%
Financial leasing
3,402
4,240
Monthly and quarterly payments
IFRS 16 car liabilities
9,266
8,762
Total interest-bearing debt
142,149
120,100
IFRS 16 rent liabilities
82,186
84,827
Total interest-bearing debt and IFRS 16 rent liabilities
224,336
204,927
Distribution of long term and short term debts and liabilities: Change in liabilities arising from financing activities:
KNOK
2024
2023
Bank overdraft
-
94,153
Current interest-bearing liabilities
154,353
22,278
Due after one year
69,983
88,496
Total interest-bearing debt and IFRS 16 rent liabilities
224,336
204,927
New Currency
KNOK 31.12.2023 CashFlow contracts differences 31.12.2024
Interest-bearing liabilities
107,098
(98,300)
120,000
684
129,482
Lease liabilities
97,829
(22,534)
16,129
3,523
94,854
Total
204,926
(120,833)
136,129
4,207
224,336
Pledged assets per 31.12 and book value: 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.
Asset
31.12.2024
31.12.2023
Operating equipment and inventories for StrongPoint AS
48,360
100,960
Lien over F\u00f6retagsinnteckning StrongPoint AB \u00b9
123,722
117,711
Co-surety Norway, Sweden, the Baltics and UK *
120,000
150,000
New Currency
KNOK 31.12.2022 CashFlow contracts differences 31.12.2023
Interest-bearing liabilities
37,757
75,553
-
(6,212)
107,098
Lease liabilities
81,203
(24,444)
32,713
8,357
97,829
Total
118,960
51,109
32,713
2,145
204,927
", "dimensions": { "concept": "ifrs-full:DisclosureOfBorrowingsExplanatory", "language": "en", "entity": "scheme:5967007LIEEXZXISIG31", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "fact-287": { "value": "Note 14: Cash and cash equivalents Accounting policies 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. The Group had liquid assets (bank deposits and unused credit facilities) of MNOK 102,5 per 31.12.2024 (2023: MNOK 95.2). KNOK 3,107 are restricted funds pr. 31.12.2024 (2023: KNOK 2,865). The Group has a cash pool arrangement allowing efficient distribution of cash between the different business units. The total Group credit facility is MNOK 140, of which MNOK 120 was withdrawn per 31.12.2024.
KNOK
2024
2023
Cash and bank deposits
82,490
39,340
Overdraft
-
94,153
Unused overdraft / credit facilities
20,000
55,847
", "dimensions": { "concept": "ifrs-full:DisclosureOfCashAndCashEquivalentsExplanatory", "language": "en", "entity": "scheme:5967007LIEEXZXISIG31", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "fact-317": { "value": "Note 14: Cash and cash equivalents Accounting policies 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.
The Group had liquid assets (bank deposits and unused credit facilities) of MNOK 102,5 per
31.12.2024 (2023: MNOK 95.2). KNOK 3,107 are restricted funds pr. 31.12.2024
(2023: KNOK 2,865).
The Group has a cash pool arrangement allowing efficient distribution of cash between the different
business units. The total Group credit facility is MNOK 140, of which MNOK 120 was withdrawn per
31.12.2024.
KNOK
2024
2023
Cash and bank deposits
82,490
39,340
Overdraft
-
94,153
Unused overdraft / credit facilities
20,000
55,847
", "dimensions": { "concept": "ifrs-full:DisclosureOfRestrictedCashAndCashEquivalentsExplanatory", "language": "en", "entity": "scheme:5967007LIEEXZXISIG31", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "fact-353": { "value": "Accounting policies 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": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "fact-289": { "value": "Note 16: Leasing commitments Tenancy agreements on premises has a lease-term of 0.5-9 years. Annual payment for these premises is approx. KNOK 22,833. Leasing contracts on vehicles has a lease-term of 1-9 years. Annual payment is approx. KNOK 7,146. Leasing contracts on inventory (copy machines, coffee machines etc.) has a lease-term of 1-5 years. Annual payment is approx. KNOK 765. 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. In 2024 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 a risk premium of 9.5% business risk and 4.0% risk free. The carrying value of leasing are included in note 10.
Future minimum rent for the leasing contracts per The present value of
31.12 is as follows: future payments
KNOK
2024
2023
2024
Within one year
30,744
26,979
27,087
After one year, but within five years
67,621
66,130
46,149
After more than five years
15,738
17,307
7,362
Total
114,104
110,417
80,598
", "dimensions": { "concept": "ifrs-full:DisclosureOfLeasesExplanatory", "language": "en", "entity": "scheme:5967007LIEEXZXISIG31", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "fact-290": { "value": "Consolidated statement of comprehensive income Consolidated balance sheet Consolidated cash flow statement Consolidated statement of changes in equity Note 1 General information Note 2 Accounting principles Note 3 Segment information Note 4 Changes in the group structure Note 5 Other operating expenses Note 6 Investment in associated companies Note 7 Shares in other companies Note 8 Financial items Note 9 Payroll costs and number of employees Note 10 Tangible assets Note 11 Intangible assets Note 12 Inventories Note 13 Other receivables Note 14 Cash and cash equivalents Note 15 Interest-bearing debt and secured debt Note 16 Leasing commitments Note 17 Financial instruments Note 18 Transactions with related parties Note 19 Post balance sheet events Note 20 Overview of subsidiaries Note 21 Exchange rates Note 22 Short and long term provisions Note 23 Earnings per share Note 24 Shareholder information Note 25 Estimation uncertainties Note 26 Tax Note 27 Other short term debt Note 28 Macro perspectives influencing the business FINANCIAL STATEMENTS Financial Statements StrongPoint ASA 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. In 2024, Norway entered a factoring arrangement for the accounts receivables. We receive payment earlier and the credit risk for these receivables are transferred to the factoring company. 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 31.12.2024 the Group had KNOK 223,238 in outstanding accounts receivables. Of this KNOK 42,555 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 1,070, including realized losses and changes in the provision for bad debts. (ii) Interest rate risk The company\u2019s interest-bearing debt decreased in 2024. 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 2024 or 2023. Based on the financial instruments in existence as of 31 December 2024, a general increase in interest rates of two per cent will reduce pre-tax profits by KNOK 2,658.
KNOK
2024
2023
Total interest-bearing debt
142,149
120,100
Cash
82,490
39,340
Net interest-bearing debt
59,659
80,760
Total capital adjusted for Goodwill
847,862
863,676
Debt ratio
7%
9%
The average effective rate of interest on financial instruments was as follows: The interest rate on overdraft is based on 1 month NIBOR for the draft in NOK, and 1 month DANBOR SEK and 1 month DANBOR EUR for the other currencies. The interest rate on the largest ong-term loan is 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 elation to financial leasing agreements. . 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 ime to be able to finance operations and investments for the next 6 months. Excess liquidity is mainly ocated in the Groups Cash Pool which is netted against overdraft. Unused credit facilities are described in note 14. Disposable funds were 102.5 MNOK as of 31 December 2024, comprising cash and cash equivalents of 82.5 MNOK and 20.0 MNOK remaining as undrawn from the Norion RCF. During the ourth quarter, the refinancing from a bank overdraft of 150 MNOK with Danske Bank to Norion RCF of 140 MNOK, was completed. As part of this new financing, there is a 30% equity covenant. As per 31 December 2024, the equity ratio was 46%.
Sensitivity currency exposure;
KNOK
Credit facilities
-1,200
Short term loans
-52
Long term loans
-43
Leasing
-127
An increase of 1% in the interest rate per 31 December 2024 would have resulted in the following effects on the profit in the group;
2024
2023
Bank overdraft
5.80%
5.13%
Credit facilities
10.49%
Short term loans
5.30%
5.30%
Long term loans
1.72%
1.72%
Overview of maturity structures of financial liabilities:
Balance sheet
KNOK amount 0-6 months 6-12 months 1-2 year 2-3 year more than 3 years
Secured loans (long and short term interest-bearing debt)
129,482
125,601
2,563
1,318
-
-
Secured loans, interest
IA
96
30
11
0
IA
Leasing
94,854
13,095
13,095
20,489
13,673
34,503
Leasing, interest
IA
2,221
2,202
3,334
2,435
IA
Other long term debt
602
602
Accounts payable
140,789
140,789
-
-
-
-
Net liabilities financial instruments
365,727
281,803
17,890
25,755
16,107
34,503
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 2024 would have resulted in the following effects on the profit in the group;
Sensitivity currency exposure;
KNOK
SEK weakened by 10% against EUR
-1,440
SEK weakened by 10% against GBP
-
SEK weakened by 10% against USD
1,519
NOK weakened by 10% against SEK
188
NOK weakened by 10% against EUR
283
NOK weakened by 10% against GBP
30
NOK weakened by 10% against USD
379
(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. 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.
Fair value measurement using
Significant
unobservable
Date of valuation Total inputs (Level 3)
Assets measured at fair value:
Financial assets
Cash
31 December 2024
82,490
82,490
Accounts receivable
31 December 2024
223,238
223,238
Other long-term investments
31 December 2024
4,001
4,001
Financial debts
Accounts payable
31 December 2024
-140,789
-140,789
Bank loans
31 December 2024
-9,482
-9,482
", "dimensions": { "concept": "ifrs-full:DisclosureOfFinancialInstrumentsExplanatory", "language": "en", "entity": "scheme:5967007LIEEXZXISIG31", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "fact-318": { "value": "Consolidated statement of comprehensive income Consolidated balance sheet Consolidated cash flow statement Consolidated statement of changes in equity Note 1 General information Note 2 Accounting principles Note 3 Segment information Note 4 Changes in the group structure Note 5 Other operating expenses Note 6 Investment in associated companies Note 7 Shares in other companies Note 8 Financial items Note 9 Payroll costs and number of employees Note 10 Tangible assets Note 11 Intangible assets Note 12 Inventories Note 13 Other receivables Note 14 Cash and cash equivalents Note 15 Interest-bearing debt and secured debt Note 16 Leasing commitments Note 17 Financial instruments Note 18 Transactions with related parties Note 19 Post balance sheet events Note 20 Overview of subsidiaries Note 21 Exchange rates Note 22 Short and long term provisions Note 23 Earnings per share Note 24 Shareholder information Note 25 Estimation uncertainties Note 26 Tax Note 27 Other short term debt Note 28 Macro perspectives influencing the business FINANCIAL STATEMENTS Financial Statements StrongPoint ASA 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. In 2024, Norway entered a factoring arrangement for the accounts receivables. We receive payment earlier and the credit risk for these receivables are transferred to the factoring company. 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 31.12.2024 the Group had KNOK 223,238 in outstanding accounts receivables. Of this KNOK 42,555 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 1,070, including realized losses and changes in the provision for bad debts. (ii) Interest rate risk The company\u2019s interest-bearing debt decreased in 2024. 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 2024 or 2023. Based on the financial instruments in existence as of 31 December 2024, a general increase in interest rates of two per cent will reduce pre-tax profits by KNOK 2,658.
KNOK
2024
2023
Total interest-bearing debt
142,149
120,100
Cash
82,490
39,340
Net interest-bearing debt
59,659
80,760
Total capital adjusted for Goodwill
847,862
863,676
Debt ratio
7%
9%
The average effective rate of interest on financial instruments was as follows: The interest rate on overdraft is based on 1 month NIBOR for the draft in NOK, and 1 month DANBOR SEK and 1 month DANBOR EUR for the other currencies. The interest rate on the largest long-term loan is 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. . (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. Disposable funds were 102.5 MNOK as of 31 December 2024, comprising cash and cash equivalents of 82.5 MNOK and 20.0 MNOK remaining as undrawn from the Norion RCF. During the fourth quarter, the refinancing from a bank overdraft of 150 MNOK with Danske Bank to Norion RCF of 140 MNOK, was completed. As part of this new financing, there is a 30% equity covenant. As per 31 December 2024, the equity ratio was 46%.
Sensitivity currency exposure;
KNOK
Credit facilities
-1,200
Short term loans
-52
Long term loans
-43
Leasing
-127
An increase of 1% in the interest rate per 31 December 2024 would have resulted in the following effects on the profit in the group;
2024
2023
Bank overdraft
5.80%
5.13%
Credit facilities
10.49%
Short term loans
5.30%
5.30%
Long term loans
1.72%
1.72%
Overview of maturity structures of financial liabilities:
Balance sheet
KNOK amount 0-6 months 6-12 months 1-2 year 2-3 year more than 3 years
Secured loans (long and short term interest-bearing debt)
129,482
125,601
2,563
1,318
-
-
Secured loans, interest
IA
96
30
11
0
IA
Leasing
94,854
13,095
13,095
20,489
13,673
34,503
Leasing, interest
IA
2,221
2,202
3,334
2,435
IA
Other long term debt
602
602
Accounts payable
140,789
140,789
-
-
-
-
Net liabilities financial instruments
365,727
281,803
17,890
25,755
16,107
34,503
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 2024 would have resulted in the following effects on the profit in the group;
Sensitivity currency exposure;
KNOK
SEK weakened by 10% against EUR
-1,440
SEK weakened by 10% against GBP
-
SEK weakened by 10% against USD
1,519
NOK weakened by 10% against SEK
188
NOK weakened by 10% against EUR
283
NOK weakened by 10% against GBP
30
NOK weakened by 10% against USD
379
tatement of comprehensive income alance sheet ash flow statement tatement of changes in equity l information ting principles nt information es in the group structure perating expenses ent in associated companies in other companies ial items costs and number of employees le assets ible assets tories receivables and cash equivalents st-bearing debt and secured debt ng commitments cial instruments actions with related parties balance sheet events iew of subsidiaries nge rates and long term provisions ngs per share holder information ation uncertainties short term debt perspectives influencing the business IAL STATEMENTS ments StrongPoint ASA rt STRONGPOINT (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. 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.
Fair value measurement using
Significant
unobservable
Date of valuation Total inputs (Level 3)
Assets measured at fair value:
Financial assets
Cash
31 December 2024
82,490
82,490
Accounts receivable
31 December 2024
223,238
223,238
Other long-term investments
31 December 2024
4,001
4,001
Financial debts
Accounts payable
31 December 2024
-140,789
-140,789
Bank loans
31 December 2024
-9,482
-9,482
", "dimensions": { "concept": "ifrs-full:DisclosureOfFinancialRiskManagementExplanatory", "language": "en", "entity": "scheme:5967007LIEEXZXISIG31", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "fact-331": { "value": "(i) Credit risks The Group\u2019s credit risk is related to the sale of goods and services on credit. In 2024, Norway entered a factoring arrangement for the accounts receivables. We receive payment earlier and the credit risk for these receivables are transferred to the factoring company. 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 31.12.2024 the Group had KNOK 223,238 in outstanding accounts receivables. Of this KNOK 42,555 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 1,070, including realized losses and changes in the provision for bad debts.
KNOK
2024
2023
Total interest-bearing debt
142,149
120,100
Cash
82,490
39,340
Net interest-bearing debt
59,659
80,760
Total capital adjusted for Goodwill
847,862
863,676
Debt ratio
7%
9%
", "dimensions": { "concept": "ifrs-full:DisclosureOfCreditRiskExplanatory", "language": "en", "entity": "scheme:5967007LIEEXZXISIG31", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "fact-329": { "value": "
(ii) Interest rate risk
The company\u2019s interest-bearing debt decreased in 2024.
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 2024 or 2023.
Based on the financial instruments in existence as of 31 December 2024, a general increase in
interest rates of two per cent will reduce pre-tax profits by KNOK 2,658.
The average effective rate of interest on financial instruments was as follows: The interest rate on overdraft is based on 1 month NIBOR for the draft in NOK, and 1 month DANBOR SEK and 1 month DANBOR EUR for the other currencies. The interest rate on the largest long-term loan is 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. .
Sensitivity currency exposure;
KNOK
Credit facilities
-1,200
Short term loans
-52
Long term loans
-43
Leasing
-127
An increase of 1% in the interest rate per 31 December 2024 would have resulted in the following effects on the profit in the group;
2024
2023
Bank overdraft
5.80%
5.13%
Credit facilities
10.49%
Short term loans
5.30%
5.30%
Long term loans
1.72%
1.72%
(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.
", "dimensions": { "concept": "ifrs-full:DisclosureOfMarketRiskExplanatory", "language": "en", "entity": "scheme:5967007LIEEXZXISIG31", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "fact-337": { "value": "(ii) Interest rate risk The company\u2019s interest-bearing debt decreased in 2024. 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 2024 or 2023. Based on the financial instruments in existence as of 31 December 2024, a general increase in interest rates of two per cent will reduce pre-tax profits by KNOK 2,658. The average effective rate of interest on financial instruments was as follows: The interest rate on overdraft is based on 1 month NIBOR for the draft in NOK, and 1 month DANBOR SEK and 1 month DANBOR EUR for the other currencies. The interest rate on the largest ong-term loan is 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 elation to financial leasing agreements. .
Sensitivity currency exposure;
KNOK
Credit facilities
-1,200
Short term loans
-52
Long term loans
-43
Leasing
-127
An increase of 1% in the interest rate per 31 December 2024 would have resulted in the following effects on the profit in the group;
2024
2023
Bank overdraft
5.80%
5.13%
Credit facilities
10.49%
Short term loans
5.30%
5.30%
Long term loans
1.72%
1.72%
Overview of maturity structures of financial liabilities:
Balance sheet
KNOK amount 0-6 months 6-12 months 1-2 year 2-3 year more than 3 years
Secured loans (long and short term interest-bearing debt)
129,482
125,601
2,563
1,318
-
-
Secured loans, interest
IA
96
30
11
0
IA
Leasing
94,854
13,095
13,095
20,489
13,673
34,503
Leasing, interest
IA
2,221
2,202
3,334
2,435
IA
Other long term debt
602
602
Accounts payable
140,789
140,789
-
-
-
-
Net liabilities financial instruments
365,727
281,803
17,890
25,755
16,107
34,503
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:DisclosureOfFinancialLiabilitiesExplanatory", "language": "en", "entity": "scheme:5967007LIEEXZXISIG31", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "fact-330": { "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.
Disposable funds were 102.5 MNOK as of 31 December 2024, comprising cash and cash
equivalents of 82.5 MNOK and 20.0 MNOK remaining as undrawn from the Norion RCF. During the
fourth quarter, the refinancing from a bank overdraft of 150 MNOK with Danske Bank to Norion RCF
of 140 MNOK, was completed. As part of this new financing, there is a 30% equity covenant. As per
31 December 2024, the equity ratio was 46%.
Overview of maturity structures of financial liabilities:
Balance sheet
KNOK amount 0-6 months 6-12 months 1-2 year 2-3 year more than 3 years
Secured loans (long and short term interest-bearing debt)
129,482
125,601
2,563
1,318
-
-
Secured loans, interest
IA
96
30
11
0
IA
Leasing
94,854
13,095
13,095
20,489
13,673
34,503
Leasing, interest
IA
2,221
2,202
3,334
2,435
IA
Other long term debt
602
602
Accounts payable
140,789
140,789
-
-
-
-
Net liabilities financial instruments
365,727
281,803
17,890
25,755
16,107
34,503
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": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "fact-338": { "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": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "fact-332": { "value": "(viii) Fair value measurement The following table provides the fair value measurement hierarchy of the Group\u2019s assets and liabilities. 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.
Fair value measurement using
Significant
unobservable
Date of valuation Total inputs (Level 3)
Assets measured at fair value:
Financial assets
Cash
31 December 2024
82,490
82,490
Accounts receivable
31 December 2024
223,238
223,238
Other long-term investments
31 December 2024
4,001
4,001
Financial debts
Accounts payable
31 December 2024
-140,789
-140,789
Bank loans
31 December 2024
-9,482
-9,482
", "dimensions": { "concept": "ifrs-full:DisclosureOfFairValueMeasurementExplanatory", "language": "en", "entity": "scheme:5967007LIEEXZXISIG31", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "fact-342": { "value": "(viii) Fair value measurement The following table provides the fair value measurement hierarchy of the Group\u2019s assets and liabilities. 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.
Fair value measurement using
Significant
unobservable
Date of valuation Total inputs (Level 3)
Assets measured at fair value:
Financial assets
Cash
31 December 2024
82,490
82,490
Accounts receivable
31 December 2024
223,238
223,238
Other long-term investments
31 December 2024
4,001
4,001
Financial debts
Accounts payable
31 December 2024
-140,789
-140,789
Bank loans
31 December 2024
-9,482
-9,482
", "dimensions": { "concept": "ifrs-full:DisclosureOfFairValueOfFinancialInstrumentsExplanatory", "language": "en", "entity": "scheme:5967007LIEEXZXISIG31", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "fact-291": { "value": "Note 18: Transactions with related parties StrongPoint ASA hired consultancy services valued at KNOK 100 from TLT Leadership AS where Board member Ingeborg Hegstad owns 50% of the company. There has not been any other transactions with any Board members and employees in 2024. Transactions with associated companies The group carried out several transactions with Spok AS in 2024 and 2023. All transactions were carried out as part of its ordinary activities and at ordinary business conditions. The balance includes the following amounts resulting from transactions with the associated company: The Group has no other binding future transactions with related parties.
2024
2023
KNOK
Sale
Purchase
Sale
Purchase
Spok AS
336
3,172
345
3,433
2024
2023
KNOK
Receivables
Debt
Receivables
Debt
Spok AS
-
6
-
274
", "dimensions": { "concept": "ifrs-full:DisclosureOfRelatedPartyExplanatory", "language": "en", "entity": "scheme:5967007LIEEXZXISIG31", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "fact-292": { "value": "
Note 19: Post balance sheet events
No significant events have occurred after the balance sheet date.
", "dimensions": { "concept": "ifrs-full:DisclosureOfEventsAfterReportingPeriodExplanatory", "language": "en", "entity": "scheme:5967007LIEEXZXISIG31", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "fact-294": { "value": "Note 20: Overview of subsidiaries The following subsidiaries are included in the consolidated accounts: 1) StrongPoint AS owns 100% of a company in Germany that is under liquidation. 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.
Company
Adress
Main area of business
Share of votes
Stake
StrongPoint AS
1
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
4
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%
", "dimensions": { "concept": "ifrs-full:DisclosureOfSignificantInvestmentsInSubsidiariesExplanatory", "language": "en", "entity": "scheme:5967007LIEEXZXISIG31", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "fact-293": { "value": "Note 21: Exchange rates 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 31.12.2024.
2024
2023
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
1.006
1.012
1.019
1.008
0.998
1.012
1.016
1.029
1.038
1.034
1.014
1.021
1.029
0.996
1.013
Euro
11.350
11.384
11.512
11.683
11.590
11.418
11.716
11.790
11.785
11.791
11.741
11.739
11.795
11.424
11.241
GBP
13.218
13.320
13.460
13.639
13.549
13.489
13.893
13.846
14.027
14.122
14.081
14.177
14.225
13.136
12.934
", "dimensions": { "concept": "ifrs-full:DisclosureOfEffectOfChangesInForeignExchangeRatesExplanatory", "language": "en", "entity": "scheme:5967007LIEEXZXISIG31", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "fact-295": { "value": "Note 22: Short and long term provisions
KNOK
2024
2023
Earnout Hamari
-
1,686
Rental deposit
602
162
Balance 31.12
602
1,848
Of which long term provisions
602
1,848
", "dimensions": { "concept": "ifrs-full:DisclosureOfProvisionsExplanatory", "language": "en", "entity": "scheme:5967007LIEEXZXISIG31", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "fact-296": { "value": "Note 23: Earnings per share
KNOK
2024
2023
Profit for the year
-31,930
-34,200
Weighed average number of shares during the year
Basic
44,631,136
44,397,547
Effect of dilutive share based incentive plans
4,095,000
3,422,500
Diluted
48,726,136
47,820,047
Earnings per share (NOK)
Basic
(0.72)
(0.77)
Diluted
(0.66)
(0.72)
Number of outstanding shares (numbers in thousand)
2024
2023
01.01: Number of shares (after deductions for own shares)
44,538
44,304
Sale of own shares during the year
156
234
31.12: Number of shares (after deductions for 194 thousand own shares)
44,694
44,538
The options are antidilutive due to the deficit in 2024.", "dimensions": { "concept": "ifrs-full:DisclosureOfEarningsPerShareExplanatory", "language": "en", "entity": "scheme:5967007LIEEXZXISIG31", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "fact-297": { "value": "Note 24: Shareholder information Overview of shareholders per 31.12.2024 StrongPoint ASA had per 31.12.2024 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.
No.
Name
No. of shares
%
1
STR\u00d8MSTANGEN AS
3,933,092
8.76
2
TOHATT AS
2,225,000
4.96
3
SOLE ACTIVE AS
2,221,717
4.95
4
BANK PICTET & CIE (EUROPE) AG
1,981,821
4.42
5
ZETTERBERG, GEORG (incl. fully owned companies)
1,400,000
3.12
6
NORDNET BANK AB
1,320,626
2.94
7
AVANZA BANK AB
1,299,363
2.89
8
RING, JAN
1,243,374
2.77
9
VERDADERO AS
1,081,285
2.41
10
JAHATT AS
1,080,850
2.41
11
MUEN INVEST AS
806,000
1.80
12
EVENSEN, TOR COLKA
803,000
1.79
13
HSBC BANK PLC
702,612
1.57
14
WAALER AS
700,000
1.56
15
BANQUE PICTET & CIE SA
670,033
1.49
16
JOHANSEN, STEIN
600,000
1.34
17
MP PENSJON PK
561,402
1.25
18
SKANDINAVISKA ENSKILDA BANKEN AB
520,185
1.16
19
ALS KINGFISHER LIMITED
506,156
1.13
20
EUROPEAN RETAIL ENGINEERING LIMITED
506,156
1.13
Sum 20 largest shareholders
24,162,672
53.83
Sum 2 248 other shareholders
20,725,680
46.17
Sum all 2 268 shareholders
44,888,352
100.00
Per 31.12.2024 the Group owned 194,374 own shares. Cost price of these was KNOK 4,423, giving
an average share price of NOK 22.75.
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
2024
2023
2024
2023
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
2024
2023
01.01
350
585
Sales of own shares
-156
-234
31.12
194
350
Nominal value
0.62
0.62
Own shares specified in equity (KNOK):
121
217
", "dimensions": { "concept": "ifrs-full:DisclosureOfShareCapitalReservesAndOtherEquityInterestExplanatory", "language": "en", "entity": "scheme:5967007LIEEXZXISIG31", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "fact-319": { "value": "Note 24: Shareholder information Overview of shareholders per 31.12.2024 StrongPoint ASA had per 31.12.2024 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.
No.
Name
No. of shares
%
1
STR\u00d8MSTANGEN AS
3,933,092
8.76
2
TOHATT AS
2,225,000
4.96
3
SOLE ACTIVE AS
2,221,717
4.95
4
BANK PICTET & CIE (EUROPE) AG
1,981,821
4.42
5
ZETTERBERG, GEORG (incl. fully owned companies)
1,400,000
3.12
6
NORDNET BANK AB
1,320,626
2.94
7
AVANZA BANK AB
1,299,363
2.89
8
RING, JAN
1,243,374
2.77
9
VERDADERO AS
1,081,285
2.41
10
JAHATT AS
1,080,850
2.41
11
MUEN INVEST AS
806,000
1.80
12
EVENSEN, TOR COLKA
803,000
1.79
13
HSBC BANK PLC
702,612
1.57
14
WAALER AS
700,000
1.56
15
BANQUE PICTET & CIE SA
670,033
1.49
16
JOHANSEN, STEIN
600,000
1.34
17
MP PENSJON PK
561,402
1.25
18
SKANDINAVISKA ENSKILDA BANKEN AB
520,185
1.16
19
ALS KINGFISHER LIMITED
506,156
1.13
20
EUROPEAN RETAIL ENGINEERING LIMITED
506,156
1.13
Sum 20 largest shareholders
24,162,672
53.83
Sum 2 248 other shareholders
20,725,680
46.17
Sum all 2 268 shareholders
44,888,352
100.00
Per 31.12.2024 the Group owned 194,374 own shares. Cost price of these was KNOK 4,423, giving an average share price of NOK 22.75. Changes in share capital:
Number of shares
Share capital
KNOK
2024
2023
2024
2023
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
2024
2023
01.01
350
585
Sales of own shares
-156
-234
31.12
194
350
Nominal value
0.62
0.62
Own shares specified in equity (KNOK):
121
217
", "dimensions": { "concept": "ifrs-full:DisclosureOfIssuedCapitalExplanatory", "language": "en", "entity": "scheme:5967007LIEEXZXISIG31", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "fact-333": { "value": "Per 31.12.2024 the Group owned 194,374 own shares. Cost price of these was KNOK 4,423, giving an average share price of NOK 22.75.
Own shares:
Numbers in 1000
2024
2023
01.01
350
585
Sales of own shares
-156
-234
31.12
194
350
Nominal value
0.62
0.62
Own shares specified in equity (KNOK):
121
217
", "dimensions": { "concept": "ifrs-full:DisclosureOfTreasurySharesExplanatory", "language": "en", "entity": "scheme:5967007LIEEXZXISIG31", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "fact-298": { "value": "Note 26: Tax Accounting policies 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 realized or the liability is paid will be used.
KNOK
2024
2023
Tax payable
1,422
3,891
Tax items relating to previous years
77
-
Change in deferred tax
-16,352
-15,023
Tax expense
-14,853
-11,132
Included as tax expense in the financial statements
-14,853
-11,132
Reconciliation of the nominal tax rate
22%
22%
KNOK
2024
2023
Profit before tax
-46,783
-45,331
Tax calculated at a rate of 22%
-10,292
-9,973
Taxes related to companies in other countries with other tax rate
-2,605
-2,347
Change in tax rate in Lithuania
-83
-
Non-taxable items (22% of permanent differences)
-2,236
884
Unrecognized deferred tax asset
302
304
Effect corrections previous years
1
61
-
Tax expense
-14,853
-11,131
Tax expense: 1) Reversal of provision of tax previous years. Deferred tax assets and deferred tax liabilities: The Company has no liabilities / deferred tax assets that effect Total comprehensive income. Per 31.12.2024 the group has losses carried forward of MNOK 103.4 in the Spanish entity. Deferred tax assets of MNOK 25.9 (MNOK 19.4) associated with this is included in the balance sheet.
Consolidated income
Deferred tax assets Deferred tax liabilities statement
KNOK
2024
2023
2024
2023
2024
2023
Current assets
692
665
3,026
3,756
787
-926
Liabilities
5,218
4,393
-2,432
-2,318
-711
-2,169
Fixed assets
265
248
-16,555
-18,219
-1,680
-532
Losses carried forward
39,804
25,800
-586
-1,331
-14,748
-11,397
Deferred tax
45,979
31,106
-16,547
-18,111
-16,352
-15,023
", "dimensions": { "concept": "ifrs-full:DisclosureOfIncomeTaxExplanatory", "language": "en", "entity": "scheme:5967007LIEEXZXISIG31", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "fact-320": { "value": "Note 26: Tax Accounting policies 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 realized or the liability is paid will be used.
KNOK
2024
2023
Tax payable
1,422
3,891
Tax items relating to previous years
77
-
Change in deferred tax
-16,352
-15,023
Tax expense
-14,853
-11,132
Included as tax expense in the financial statements
-14,853
-11,132
Reconciliation of the nominal tax rate
22%
22%
KNOK
2024
2023
Profit before tax
-46,783
-45,331
Tax calculated at a rate of 22%
-10,292
-9,973
Taxes related to companies in other countries with other tax rate
-2,605
-2,347
Change in tax rate in Lithuania
-83
-
Non-taxable items (22% of permanent differences)
-2,236
884
Unrecognized deferred tax asset
302
304
Effect corrections previous years
1
61
-
Tax expense
-14,853
-11,131
Tax expense: 1) Reversal of provision of tax previous years. Deferred tax assets and deferred tax liabilities: The Company has no liabilities / deferred tax assets that effect Total comprehensive income. Per 31.12.2024 the group has losses carried forward of MNOK 103.4 in the Spanish entity. Deferred tax assets of MNOK 25.9 (MNOK 19.4) associated with this is included in the balance sheet.
Consolidated income
Deferred tax assets Deferred tax liabilities statement
KNOK
2024
2023
2024
2023
2024
2023
Current assets
692
665
3,026
3,756
787
-926
Liabilities
5,218
4,393
-2,432
-2,318
-711
-2,169
Fixed assets
265
248
-16,555
-18,219
-1,680
-532
Losses carried forward
39,804
25,800
-586
-1,331
-14,748
-11,397
Deferred tax
45,979
31,106
-16,547
-18,111
-16,352
-15,023
", "dimensions": { "concept": "ifrs-full:DisclosureOfDeferredTaxesExplanatory", "language": "en", "entity": "scheme:5967007LIEEXZXISIG31", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "fact-354": { "value": "Accounting policies 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 realized or the liability is paid will be used. ", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForIncomeTaxExplanatory", "language": "en", "entity": "scheme:5967007LIEEXZXISIG31", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "fact-358": { "value": "Accounting policies 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 realized or the liability is paid will be used. ", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForDeferredIncomeTaxExplanatory", "language": "en", "entity": "scheme:5967007LIEEXZXISIG31", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "fact-299": { "value": "Note 28: Macro perspectives influencing the business Economic conditions Inflation and interest rates have started to come down during 2024, however this varies within the markets in which we operate, consequently impacting our customers\u2019 investment spend differently across the regions. Global supply chain and component shortages The Group may be influenced by component shortages and other supply chain issues, as was seen during the COVID 19 pandemic. StrongPoint works closely with suppliers to ensure as little effect on customer deliveries as possible. There were no major shortages impacting the business during 2024. 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 55% 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 ALS (UK/Ireland) is providing refurbishment of interior or point of sales physical installation, and this can contribute positive to climate if utilized in other markets.", "dimensions": { "concept": "strongpoint:DisclosureOfMacroPerspectivesInfluencingTheBusiness", "language": "en", "entity": "scheme:5967007LIEEXZXISIG31", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "fact-300": { "value": "
Note 27: Other short term debt
KNOK
2024
2023
Holiday pay owed
20,840
20,328
Accrued expenses
39,854
32,179
Deferred income
81,645
62,520
Warranty provisions
2,065
1,232
Other short term debt
12,487
15,534
Total other short term debt
156,890
131,794
Warranty provisions (KNOK)
2024
2023
Balance 01.01
1,232
2,149
Provision
1,945
1,215
Currency differences
20
154
Used
-1,133
-2,287
Balance 31.12
2,065
1,232
Of which warranties due within 1 year
2,065
1,232
", "dimensions": { "concept": "ifrs-full:DisclosureOfDebtSecuritiesExplanatory", "language": "en", "entity": "scheme:5967007LIEEXZXISIG31", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "fact-339": { "value": "Note 27: Other short term debt
KNOK
2024
2023
Holiday pay owed
20,840
20,328
Accrued expenses
39,854
32,179
Deferred income
81,645
62,520
Warranty provisions
2,065
1,232
Other short term debt
12,487
15,534
Total other short term debt
156,890
131,794
Warranty provisions (KNOK)
2024
2023
Balance 01.01
1,232
2,149
Provision
1,945
1,215
Currency differences
20
154
Used
-1,133
-2,287
Balance 31.12
2,065
1,232
Of which warranties due within 1 year
2,065
1,232
", "dimensions": { "concept": "ifrs-full:DisclosureOfDeferredIncomeExplanatory", "language": "en", "entity": "scheme:5967007LIEEXZXISIG31", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "fact-321": { "value": "Note 27: Other short term debt
KNOK
2024
2023
Holiday pay owed
20,840
20,328
Accrued expenses
39,854
32,179
Deferred income
81,645
62,520
Warranty provisions
2,065
1,232
Other short term debt
12,487
15,534
Total other short term debt
156,890
131,794
Warranty provisions (KNOK)
2024
2023
Balance 01.01
1,232
2,149
Provision
1,945
1,215
Currency differences
20
154
Used
-1,133
-2,287
Balance 31.12
2,065
1,232
Of which warranties due within 1 year
2,065
1,232
", "dimensions": { "concept": "ifrs-full:DisclosureOfAccruedExpensesAndOtherLiabilitiesExplanatory", "language": "en", "entity": "scheme:5967007LIEEXZXISIG31", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "fact-334": { "value": "Note 27: Other short term debt
KNOK
2024
2023
Holiday pay owed
20,840
20,328
Accrued expenses
39,854
32,179
Deferred income
81,645
62,520
Warranty provisions
2,065
1,232
Other short term debt
12,487
15,534
Total other short term debt
156,890
131,794
Warranty provisions (KNOK)
2024
2023
Balance 01.01
1,232
2,149
Provision
1,945
1,215
Currency differences
20
154
Used
-1,133
-2,287
Balance 31.12
2,065
1,232
Of which warranties due within 1 year
2,065
1,232
", "dimensions": { "concept": "ifrs-full:DisclosureOfOtherCurrentLiabilitiesExplanatory", "language": "en", "entity": "scheme:5967007LIEEXZXISIG31", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } } } }