{
"documentInfo": {
"documentType": "https://xbrl.org/2021/xbrl-json",
"features": {
"xbrl:canonicalValues": true
},
"namespaces": {
"MED": "http://medistim.com/2022-12-31",
"ifrs-full": "http://xbrl.ifrs.org/taxonomy/2021-03-24/ifrs-full",
"iso4217": "http://www.xbrl.org/2003/iso4217",
"scheme": "http://standards.iso.org/iso/17442",
"xbrl": "https://xbrl.org/2021",
"xbrli": "http://www.xbrl.org/2003/instance"
},
"taxonomy": [
"http://medistim.com/2022-12-31/5967007LIEEXZXJOX483-2022-12-31.xsd"
]
},
"facts": {
"f14294": {
"value": "486262000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:Revenue",
"entity": "scheme:5967007LIEEXZXJOX483",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
"unit": "iso4217:NOK"
}
},
"f14298": {
"value": "417817000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:Revenue",
"entity": "scheme:5967007LIEEXZXJOX483",
"period": "2021-01-01T00:00:00/2022-01-01T00:00:00",
"unit": "iso4217:NOK"
}
},
"f14303": {
"value": "5675000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:OtherIncome",
"entity": "scheme:5967007LIEEXZXJOX483",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
"unit": "iso4217:NOK"
}
},
"f14306": {
"value": "9459000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:OtherIncome",
"entity": "scheme:5967007LIEEXZXJOX483",
"period": "2021-01-01T00:00:00/2022-01-01T00:00:00",
"unit": "iso4217:NOK"
}
},
"f14315": {
"value": "491937000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:RevenueAndOperatingIncome",
"entity": "scheme:5967007LIEEXZXJOX483",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
"unit": "iso4217:NOK"
}
},
"f14318": {
"value": "427276000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:RevenueAndOperatingIncome",
"entity": "scheme:5967007LIEEXZXJOX483",
"period": "2021-01-01T00:00:00/2022-01-01T00:00:00",
"unit": "iso4217:NOK"
}
},
"f14329": {
"value": "106485000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:ChangesInInventoriesOfFinishedGoodsAndWorkInProgress",
"entity": "scheme:5967007LIEEXZXJOX483",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
"unit": "iso4217:NOK"
}
},
"f14332": {
"value": "97114000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:ChangesInInventoriesOfFinishedGoodsAndWorkInProgress",
"entity": "scheme:5967007LIEEXZXJOX483",
"period": "2021-01-01T00:00:00/2022-01-01T00:00:00",
"unit": "iso4217:NOK"
}
},
"f14339": {
"value": "146376000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:EmployeeBenefitsExpense",
"entity": "scheme:5967007LIEEXZXJOX483",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
"unit": "iso4217:NOK"
}
},
"f14342": {
"value": "134507000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:EmployeeBenefitsExpense",
"entity": "scheme:5967007LIEEXZXJOX483",
"period": "2021-01-01T00:00:00/2022-01-01T00:00:00",
"unit": "iso4217:NOK"
}
},
"f14351": {
"value": "74537000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:OtherExpenseByNature",
"entity": "scheme:5967007LIEEXZXJOX483",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
"unit": "iso4217:NOK"
}
},
"f14354": {
"value": "55950000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:OtherExpenseByNature",
"entity": "scheme:5967007LIEEXZXJOX483",
"period": "2021-01-01T00:00:00/2022-01-01T00:00:00",
"unit": "iso4217:NOK"
}
},
"f14365": {
"value": "327398000",
"decimals": -3,
"dimensions": {
"concept": "MED:OperatingExpenseOtherThanDepreciationAmortisationAndImpairmentLossReversalOfImpairmentLossRecognisedInProfitOrLoss",
"entity": "scheme:5967007LIEEXZXJOX483",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
"unit": "iso4217:NOK"
}
},
"f14368": {
"value": "287571000",
"decimals": -3,
"dimensions": {
"concept": "MED:OperatingExpenseOtherThanDepreciationAmortisationAndImpairmentLossReversalOfImpairmentLossRecognisedInProfitOrLoss",
"entity": "scheme:5967007LIEEXZXJOX483",
"period": "2021-01-01T00:00:00/2022-01-01T00:00:00",
"unit": "iso4217:NOK"
}
},
"f14377": {
"value": "164539000",
"decimals": -3,
"dimensions": {
"concept": "MED:ProfitLossFromOperatingActivitiesBeforeInterestTaxesDepreciationAndAmortisationExpense",
"entity": "scheme:5967007LIEEXZXJOX483",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
"unit": "iso4217:NOK"
}
},
"f14380": {
"value": "139705000",
"decimals": -3,
"dimensions": {
"concept": "MED:ProfitLossFromOperatingActivitiesBeforeInterestTaxesDepreciationAndAmortisationExpense",
"entity": "scheme:5967007LIEEXZXJOX483",
"period": "2021-01-01T00:00:00/2022-01-01T00:00:00",
"unit": "iso4217:NOK"
}
},
"f14390": {
"value": "23288000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:DepreciationAndAmortisationExpense",
"entity": "scheme:5967007LIEEXZXJOX483",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
"unit": "iso4217:NOK"
}
},
"f14393": {
"value": "23427000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:DepreciationAndAmortisationExpense",
"entity": "scheme:5967007LIEEXZXJOX483",
"period": "2021-01-01T00:00:00/2022-01-01T00:00:00",
"unit": "iso4217:NOK"
}
},
"f14399": {
"value": "141251000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:ProfitLossFromOperatingActivities",
"entity": "scheme:5967007LIEEXZXJOX483",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
"unit": "iso4217:NOK"
}
},
"f14402": {
"value": "116278000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:ProfitLossFromOperatingActivities",
"entity": "scheme:5967007LIEEXZXJOX483",
"period": "2021-01-01T00:00:00/2022-01-01T00:00:00",
"unit": "iso4217:NOK"
}
},
"f14412": {
"value": "16546000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:FinanceIncome",
"entity": "scheme:5967007LIEEXZXJOX483",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
"unit": "iso4217:NOK"
}
},
"f14415": {
"value": "8173000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:FinanceIncome",
"entity": "scheme:5967007LIEEXZXJOX483",
"period": "2021-01-01T00:00:00/2022-01-01T00:00:00",
"unit": "iso4217:NOK"
}
},
"f14424": {
"value": "11748000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:FinanceCosts",
"entity": "scheme:5967007LIEEXZXJOX483",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
"unit": "iso4217:NOK"
}
},
"f14427": {
"value": "10380000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:FinanceCosts",
"entity": "scheme:5967007LIEEXZXJOX483",
"period": "2021-01-01T00:00:00/2022-01-01T00:00:00",
"unit": "iso4217:NOK"
}
},
"f14432": {
"value": "4799000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:FinanceIncomeCost",
"entity": "scheme:5967007LIEEXZXJOX483",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
"unit": "iso4217:NOK"
}
},
"f14435": {
"value": "-2207000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:FinanceIncomeCost",
"entity": "scheme:5967007LIEEXZXJOX483",
"period": "2021-01-01T00:00:00/2022-01-01T00:00:00",
"unit": "iso4217:NOK"
}
},
"f14442": {
"value": "146049000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:ProfitLossBeforeTax",
"entity": "scheme:5967007LIEEXZXJOX483",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
"unit": "iso4217:NOK"
}
},
"f14445": {
"value": "114071000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:ProfitLossBeforeTax",
"entity": "scheme:5967007LIEEXZXJOX483",
"period": "2021-01-01T00:00:00/2022-01-01T00:00:00",
"unit": "iso4217:NOK"
}
},
"f14453": {
"value": "32077000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:IncomeTaxExpenseContinuingOperations",
"entity": "scheme:5967007LIEEXZXJOX483",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
"unit": "iso4217:NOK"
}
},
"f14456": {
"value": "23171000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:IncomeTaxExpenseContinuingOperations",
"entity": "scheme:5967007LIEEXZXJOX483",
"period": "2021-01-01T00:00:00/2022-01-01T00:00:00",
"unit": "iso4217:NOK"
}
},
"f14464": {
"value": "113973000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:ProfitLoss",
"entity": "scheme:5967007LIEEXZXJOX483",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
"unit": "iso4217:NOK"
}
},
"f14467": {
"value": "90900000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:ProfitLoss",
"entity": "scheme:5967007LIEEXZXJOX483",
"period": "2021-01-01T00:00:00/2022-01-01T00:00:00",
"unit": "iso4217:NOK"
}
},
"f14478": {
"value": "6.25",
"decimals": 2,
"dimensions": {
"concept": "ifrs-full:BasicEarningsLossPerShare",
"entity": "scheme:5967007LIEEXZXJOX483",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
"unit": "iso4217:NOK/xbrli:shares"
}
},
"f14482": {
"value": "4.99",
"decimals": 2,
"dimensions": {
"concept": "ifrs-full:BasicEarningsLossPerShare",
"entity": "scheme:5967007LIEEXZXJOX483",
"period": "2021-01-01T00:00:00/2022-01-01T00:00:00",
"unit": "iso4217:NOK/xbrli:shares"
}
},
"f14487": {
"value": "6.24",
"decimals": 2,
"dimensions": {
"concept": "ifrs-full:DilutedEarningsLossPerShare",
"entity": "scheme:5967007LIEEXZXJOX483",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
"unit": "iso4217:NOK/xbrli:shares"
}
},
"f14491": {
"value": "4.98",
"decimals": 2,
"dimensions": {
"concept": "ifrs-full:DilutedEarningsLossPerShare",
"entity": "scheme:5967007LIEEXZXJOX483",
"period": "2021-01-01T00:00:00/2022-01-01T00:00:00",
"unit": "iso4217:NOK/xbrli:shares"
}
},
"f14508": {
"value": "113973000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:ProfitLoss",
"entity": "scheme:5967007LIEEXZXJOX483",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
"unit": "iso4217:NOK"
}
},
"f14511": {
"value": "90900000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:ProfitLoss",
"entity": "scheme:5967007LIEEXZXJOX483",
"period": "2021-01-01T00:00:00/2022-01-01T00:00:00",
"unit": "iso4217:NOK"
}
},
"f14527": {
"value": "10659000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:OtherComprehensiveIncomeNetOfTaxExchangeDifferencesOnTranslation",
"entity": "scheme:5967007LIEEXZXJOX483",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
"unit": "iso4217:NOK"
}
},
"f14530": {
"value": "5357000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:OtherComprehensiveIncomeNetOfTaxExchangeDifferencesOnTranslation",
"entity": "scheme:5967007LIEEXZXJOX483",
"period": "2021-01-01T00:00:00/2022-01-01T00:00:00",
"unit": "iso4217:NOK"
}
},
"f14538": {
"value": "124632000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:ComprehensiveIncome",
"entity": "scheme:5967007LIEEXZXJOX483",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
"unit": "iso4217:NOK"
}
},
"f14541": {
"value": "96257000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:ComprehensiveIncome",
"entity": "scheme:5967007LIEEXZXJOX483",
"period": "2021-01-01T00:00:00/2022-01-01T00:00:00",
"unit": "iso4217:NOK"
}
},
"f14575": {
"value": "51312000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:PropertyPlantAndEquipment",
"entity": "scheme:5967007LIEEXZXJOX483",
"period": "2023-01-01T00:00:00",
"unit": "iso4217:NOK"
}
},
"f14578": {
"value": "58862000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:PropertyPlantAndEquipment",
"entity": "scheme:5967007LIEEXZXJOX483",
"period": "2022-01-01T00:00:00",
"unit": "iso4217:NOK"
}
},
"f14588": {
"value": "3591000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:DeferredTaxAssets",
"entity": "scheme:5967007LIEEXZXJOX483",
"period": "2023-01-01T00:00:00",
"unit": "iso4217:NOK"
}
},
"f14591": {
"value": "3240000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:DeferredTaxAssets",
"entity": "scheme:5967007LIEEXZXJOX483",
"period": "2022-01-01T00:00:00",
"unit": "iso4217:NOK"
}
},
"f14599": {
"value": "36069000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:IntangibleAssetsAndGoodwill",
"entity": "scheme:5967007LIEEXZXJOX483",
"period": "2023-01-01T00:00:00",
"unit": "iso4217:NOK"
}
},
"f14602": {
"value": "30170000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:IntangibleAssetsAndGoodwill",
"entity": "scheme:5967007LIEEXZXJOX483",
"period": "2022-01-01T00:00:00",
"unit": "iso4217:NOK"
}
},
"f14610": {
"value": "5793000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:OtherNoncurrentReceivables",
"entity": "scheme:5967007LIEEXZXJOX483",
"period": "2023-01-01T00:00:00",
"unit": "iso4217:NOK"
}
},
"f14613": {
"value": "4475000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:OtherNoncurrentReceivables",
"entity": "scheme:5967007LIEEXZXJOX483",
"period": "2022-01-01T00:00:00",
"unit": "iso4217:NOK"
}
},
"f14620": {
"value": "96764000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:NoncurrentAssets",
"entity": "scheme:5967007LIEEXZXJOX483",
"period": "2023-01-01T00:00:00",
"unit": "iso4217:NOK"
}
},
"f14623": {
"value": "96747000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:NoncurrentAssets",
"entity": "scheme:5967007LIEEXZXJOX483",
"period": "2022-01-01T00:00:00",
"unit": "iso4217:NOK"
}
},
"f14633": {
"value": "114333000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:Inventories",
"entity": "scheme:5967007LIEEXZXJOX483",
"period": "2023-01-01T00:00:00",
"unit": "iso4217:NOK"
}
},
"f14637": {
"value": "97413000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:Inventories",
"entity": "scheme:5967007LIEEXZXJOX483",
"period": "2022-01-01T00:00:00",
"unit": "iso4217:NOK"
}
},
"f14646": {
"value": "101657000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:CurrentTradeReceivables",
"entity": "scheme:5967007LIEEXZXJOX483",
"period": "2023-01-01T00:00:00",
"unit": "iso4217:NOK"
}
},
"f14649": {
"value": "68634000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:CurrentTradeReceivables",
"entity": "scheme:5967007LIEEXZXJOX483",
"period": "2022-01-01T00:00:00",
"unit": "iso4217:NOK"
}
},
"f14657": {
"value": "17263000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:OtherCurrentReceivables",
"entity": "scheme:5967007LIEEXZXJOX483",
"period": "2023-01-01T00:00:00",
"unit": "iso4217:NOK"
}
},
"f14660": {
"value": "10960000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:OtherCurrentReceivables",
"entity": "scheme:5967007LIEEXZXJOX483",
"period": "2022-01-01T00:00:00",
"unit": "iso4217:NOK"
}
},
"f14666": {
"value": "152641000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:Cash",
"entity": "scheme:5967007LIEEXZXJOX483",
"period": "2023-01-01T00:00:00",
"unit": "iso4217:NOK"
}
},
"f14670": {
"value": "129490000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:Cash",
"entity": "scheme:5967007LIEEXZXJOX483",
"period": "2022-01-01T00:00:00",
"unit": "iso4217:NOK"
}
},
"f14677": {
"value": "385894000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:CurrentAssets",
"entity": "scheme:5967007LIEEXZXJOX483",
"period": "2023-01-01T00:00:00",
"unit": "iso4217:NOK"
}
},
"f14680": {
"value": "306497000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:CurrentAssets",
"entity": "scheme:5967007LIEEXZXJOX483",
"period": "2022-01-01T00:00:00",
"unit": "iso4217:NOK"
}
},
"f14686": {
"value": "482659000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:Assets",
"entity": "scheme:5967007LIEEXZXJOX483",
"period": "2023-01-01T00:00:00",
"unit": "iso4217:NOK"
}
},
"f14689": {
"value": "403244000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:Assets",
"entity": "scheme:5967007LIEEXZXJOX483",
"period": "2022-01-01T00:00:00",
"unit": "iso4217:NOK"
}
},
"f14703": {
"value": "4585000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:IssuedCapital",
"entity": "scheme:5967007LIEEXZXJOX483",
"period": "2023-01-01T00:00:00",
"unit": "iso4217:NOK"
}
},
"f14706": {
"value": "4585000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:IssuedCapital",
"entity": "scheme:5967007LIEEXZXJOX483",
"period": "2022-01-01T00:00:00",
"unit": "iso4217:NOK"
}
},
"f14713": {
"value": "21000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:TreasuryShares",
"entity": "scheme:5967007LIEEXZXJOX483",
"period": "2023-01-01T00:00:00",
"unit": "iso4217:NOK"
}
},
"f14717": {
"value": "26000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:TreasuryShares",
"entity": "scheme:5967007LIEEXZXJOX483",
"period": "2022-01-01T00:00:00",
"unit": "iso4217:NOK"
}
},
"f14723": {
"value": "41852000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:SharePremium",
"entity": "scheme:5967007LIEEXZXJOX483",
"period": "2023-01-01T00:00:00",
"unit": "iso4217:NOK"
}
},
"f14726": {
"value": "41852000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:SharePremium",
"entity": "scheme:5967007LIEEXZXJOX483",
"period": "2022-01-01T00:00:00",
"unit": "iso4217:NOK"
}
},
"f14732": {
"value": "18742000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:AdditionalPaidinCapital",
"entity": "scheme:5967007LIEEXZXJOX483",
"period": "2023-01-01T00:00:00",
"unit": "iso4217:NOK"
}
},
"f14735": {
"value": "13344000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:AdditionalPaidinCapital",
"entity": "scheme:5967007LIEEXZXJOX483",
"period": "2022-01-01T00:00:00",
"unit": "iso4217:NOK"
}
},
"f14740": {
"value": "65158000",
"decimals": -3,
"dimensions": {
"concept": "MED:PaidInCapital",
"entity": "scheme:5967007LIEEXZXJOX483",
"period": "2023-01-01T00:00:00",
"unit": "iso4217:NOK"
}
},
"f14743": {
"value": "59754000",
"decimals": -3,
"dimensions": {
"concept": "MED:PaidInCapital",
"entity": "scheme:5967007LIEEXZXJOX483",
"period": "2022-01-01T00:00:00",
"unit": "iso4217:NOK"
}
},
"f14748": {
"value": "17184000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:OtherReserves",
"entity": "scheme:5967007LIEEXZXJOX483",
"period": "2023-01-01T00:00:00",
"unit": "iso4217:NOK"
}
},
"f14751": {
"value": "6138000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:OtherReserves",
"entity": "scheme:5967007LIEEXZXJOX483",
"period": "2022-01-01T00:00:00",
"unit": "iso4217:NOK"
}
},
"f14757": {
"value": "285350000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:RetainedEarnings",
"entity": "scheme:5967007LIEEXZXJOX483",
"period": "2023-01-01T00:00:00",
"unit": "iso4217:NOK"
}
},
"f14760": {
"value": "240160000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:RetainedEarnings",
"entity": "scheme:5967007LIEEXZXJOX483",
"period": "2022-01-01T00:00:00",
"unit": "iso4217:NOK"
}
},
"f14766": {
"value": "302534000",
"decimals": -3,
"dimensions": {
"concept": "MED:RetainedEarningsAndOtherReserves",
"entity": "scheme:5967007LIEEXZXJOX483",
"period": "2023-01-01T00:00:00",
"unit": "iso4217:NOK"
}
},
"f14769": {
"value": "246298000",
"decimals": -3,
"dimensions": {
"concept": "MED:RetainedEarningsAndOtherReserves",
"entity": "scheme:5967007LIEEXZXJOX483",
"period": "2022-01-01T00:00:00",
"unit": "iso4217:NOK"
}
},
"f14775": {
"value": "367691000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:Equity",
"entity": "scheme:5967007LIEEXZXJOX483",
"period": "2023-01-01T00:00:00",
"unit": "iso4217:NOK"
}
},
"f14778": {
"value": "306052000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:Equity",
"entity": "scheme:5967007LIEEXZXJOX483",
"period": "2022-01-01T00:00:00",
"unit": "iso4217:NOK"
}
},
"f14788": {
"value": "10020000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:NoncurrentLeaseLiabilities",
"entity": "scheme:5967007LIEEXZXJOX483",
"period": "2023-01-01T00:00:00",
"unit": "iso4217:NOK"
}
},
"f14791": {
"value": "17079000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:NoncurrentLeaseLiabilities",
"entity": "scheme:5967007LIEEXZXJOX483",
"period": "2022-01-01T00:00:00",
"unit": "iso4217:NOK"
}
},
"f14801": {
"value": "5126000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:NoncurrentDeferredIncomeIncludingNoncurrentContractLiabilities",
"entity": "scheme:5967007LIEEXZXJOX483",
"period": "2023-01-01T00:00:00",
"unit": "iso4217:NOK"
}
},
"f14804": {
"value": "2510000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:NoncurrentDeferredIncomeIncludingNoncurrentContractLiabilities",
"entity": "scheme:5967007LIEEXZXJOX483",
"period": "2022-01-01T00:00:00",
"unit": "iso4217:NOK"
}
},
"f14810": {
"value": "15146000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:NoncurrentLiabilities",
"entity": "scheme:5967007LIEEXZXJOX483",
"period": "2023-01-01T00:00:00",
"unit": "iso4217:NOK"
}
},
"f14813": {
"value": "19589000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:NoncurrentLiabilities",
"entity": "scheme:5967007LIEEXZXJOX483",
"period": "2022-01-01T00:00:00",
"unit": "iso4217:NOK"
}
},
"f14822": {
"value": "24470000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:TradeAndOtherCurrentPayablesToTradeSuppliers",
"entity": "scheme:5967007LIEEXZXJOX483",
"period": "2023-01-01T00:00:00",
"unit": "iso4217:NOK"
}
},
"f14825": {
"value": "13205000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:TradeAndOtherCurrentPayablesToTradeSuppliers",
"entity": "scheme:5967007LIEEXZXJOX483",
"period": "2022-01-01T00:00:00",
"unit": "iso4217:NOK"
}
},
"f14835": {
"value": "25873000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:CurrentTaxLiabilitiesCurrent",
"entity": "scheme:5967007LIEEXZXJOX483",
"period": "2023-01-01T00:00:00",
"unit": "iso4217:NOK"
}
},
"f14838": {
"value": "20327000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:CurrentTaxLiabilitiesCurrent",
"entity": "scheme:5967007LIEEXZXJOX483",
"period": "2022-01-01T00:00:00",
"unit": "iso4217:NOK"
}
},
"f14845": {
"value": "42043000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:OtherCurrentLiabilities",
"entity": "scheme:5967007LIEEXZXJOX483",
"period": "2023-01-01T00:00:00",
"unit": "iso4217:NOK"
}
},
"f14848": {
"value": "36609000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:OtherCurrentLiabilities",
"entity": "scheme:5967007LIEEXZXJOX483",
"period": "2022-01-01T00:00:00",
"unit": "iso4217:NOK"
}
},
"f14855": {
"value": "350000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:CurrentProvisions",
"entity": "scheme:5967007LIEEXZXJOX483",
"period": "2023-01-01T00:00:00",
"unit": "iso4217:NOK"
}
},
"f14859": {
"value": "350000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:CurrentProvisions",
"entity": "scheme:5967007LIEEXZXJOX483",
"period": "2022-01-01T00:00:00",
"unit": "iso4217:NOK"
}
},
"f14866": {
"value": "7086000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:CurrentLeaseLiabilities",
"entity": "scheme:5967007LIEEXZXJOX483",
"period": "2023-01-01T00:00:00",
"unit": "iso4217:NOK"
}
},
"f14869": {
"value": "7113000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:CurrentLeaseLiabilities",
"entity": "scheme:5967007LIEEXZXJOX483",
"period": "2022-01-01T00:00:00",
"unit": "iso4217:NOK"
}
},
"f14878": {
"value": "99822000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:CurrentLiabilities",
"entity": "scheme:5967007LIEEXZXJOX483",
"period": "2023-01-01T00:00:00",
"unit": "iso4217:NOK"
}
},
"f14881": {
"value": "77604000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:CurrentLiabilities",
"entity": "scheme:5967007LIEEXZXJOX483",
"period": "2022-01-01T00:00:00",
"unit": "iso4217:NOK"
}
},
"f14887": {
"value": "114967000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:Liabilities",
"entity": "scheme:5967007LIEEXZXJOX483",
"period": "2023-01-01T00:00:00",
"unit": "iso4217:NOK"
}
},
"f14888": {
"value": "114967000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:Liabilities",
"entity": "scheme:5967007LIEEXZXJOX483",
"period": "2023-01-01T00:00:00",
"unit": "iso4217:NOK"
}
},
"f14891": {
"value": "97192000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:Liabilities",
"entity": "scheme:5967007LIEEXZXJOX483",
"period": "2022-01-01T00:00:00",
"unit": "iso4217:NOK"
}
},
"f14892": {
"value": "97192000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:Liabilities",
"entity": "scheme:5967007LIEEXZXJOX483",
"period": "2022-01-01T00:00:00",
"unit": "iso4217:NOK"
}
},
"f14898": {
"value": "482659000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:EquityAndLiabilities",
"entity": "scheme:5967007LIEEXZXJOX483",
"period": "2023-01-01T00:00:00",
"unit": "iso4217:NOK"
}
},
"f14901": {
"value": "403244000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:EquityAndLiabilities",
"entity": "scheme:5967007LIEEXZXJOX483",
"period": "2022-01-01T00:00:00",
"unit": "iso4217:NOK"
}
},
"f14937": {
"value": "113973000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:ProfitLoss",
"entity": "scheme:5967007LIEEXZXJOX483",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
"unit": "iso4217:NOK"
}
},
"f14940": {
"value": "90900000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:ProfitLoss",
"entity": "scheme:5967007LIEEXZXJOX483",
"period": "2021-01-01T00:00:00/2022-01-01T00:00:00",
"unit": "iso4217:NOK"
}
},
"f14946": {
"value": "19167000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:IncomeTaxesPaidClassifiedAsOperatingActivities",
"entity": "scheme:5967007LIEEXZXJOX483",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
"unit": "iso4217:NOK"
}
},
"f14949": {
"value": "13336000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:IncomeTaxesPaidClassifiedAsOperatingActivities",
"entity": "scheme:5967007LIEEXZXJOX483",
"period": "2021-01-01T00:00:00/2022-01-01T00:00:00",
"unit": "iso4217:NOK"
}
},
"f14959": {
"value": "32077000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:AdjustmentsForIncomeTaxExpense",
"entity": "scheme:5967007LIEEXZXJOX483",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
"unit": "iso4217:NOK"
}
},
"f14962": {
"value": "23171000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:AdjustmentsForIncomeTaxExpense",
"entity": "scheme:5967007LIEEXZXJOX483",
"period": "2021-01-01T00:00:00/2022-01-01T00:00:00",
"unit": "iso4217:NOK"
}
},
"f14970": {
"value": "23288000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:AdjustmentsForDepreciationAndAmortisationExpense",
"entity": "scheme:5967007LIEEXZXJOX483",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
"unit": "iso4217:NOK"
}
},
"f14973": {
"value": "23427000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:AdjustmentsForDepreciationAndAmortisationExpense",
"entity": "scheme:5967007LIEEXZXJOX483",
"period": "2021-01-01T00:00:00/2022-01-01T00:00:00",
"unit": "iso4217:NOK"
}
},
"f14982": {
"value": "-16920000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:AdjustmentsForDecreaseIncreaseInInventories",
"entity": "scheme:5967007LIEEXZXJOX483",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
"unit": "iso4217:NOK"
}
},
"f14985": {
"value": "15254000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:AdjustmentsForDecreaseIncreaseInInventories",
"entity": "scheme:5967007LIEEXZXJOX483",
"period": "2021-01-01T00:00:00/2022-01-01T00:00:00",
"unit": "iso4217:NOK"
}
},
"f14994": {
"value": "-33023000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:AdjustmentsForDecreaseIncreaseInTradeAccountReceivable",
"entity": "scheme:5967007LIEEXZXJOX483",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
"unit": "iso4217:NOK"
}
},
"f14997": {
"value": "-11149000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:AdjustmentsForDecreaseIncreaseInTradeAccountReceivable",
"entity": "scheme:5967007LIEEXZXJOX483",
"period": "2021-01-01T00:00:00/2022-01-01T00:00:00",
"unit": "iso4217:NOK"
}
},
"f15004": {
"value": "11265000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:AdjustmentsForIncreaseDecreaseInTradeAccountPayable",
"entity": "scheme:5967007LIEEXZXJOX483",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
"unit": "iso4217:NOK"
}
},
"f15008": {
"value": "-324000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:AdjustmentsForIncreaseDecreaseInTradeAccountPayable",
"entity": "scheme:5967007LIEEXZXJOX483",
"period": "2021-01-01T00:00:00/2022-01-01T00:00:00",
"unit": "iso4217:NOK"
}
},
"f15013": {
"value": "1999000",
"decimals": -3,
"dimensions": {
"concept": "MED:AdjustmentsForIncreaseDecreaseInAccruals",
"entity": "scheme:5967007LIEEXZXJOX483",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
"unit": "iso4217:NOK"
}
},
"f15017": {
"value": "-568000",
"decimals": -3,
"dimensions": {
"concept": "MED:AdjustmentsForIncreaseDecreaseInAccruals",
"entity": "scheme:5967007LIEEXZXJOX483",
"period": "2021-01-01T00:00:00/2022-01-01T00:00:00",
"unit": "iso4217:NOK"
}
},
"f15024": {
"value": "113491000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:CashFlowsFromUsedInOperatingActivities",
"entity": "scheme:5967007LIEEXZXJOX483",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
"unit": "iso4217:NOK"
}
},
"f15027": {
"value": "127374000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:CashFlowsFromUsedInOperatingActivities",
"entity": "scheme:5967007LIEEXZXJOX483",
"period": "2021-01-01T00:00:00/2022-01-01T00:00:00",
"unit": "iso4217:NOK"
}
},
"f15039": {
"value": "9251000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:PurchaseOfPropertyPlantAndEquipmentClassifiedAsInvestingActivities",
"entity": "scheme:5967007LIEEXZXJOX483",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
"unit": "iso4217:NOK"
}
},
"f15042": {
"value": "7403000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:PurchaseOfPropertyPlantAndEquipmentClassifiedAsInvestingActivities",
"entity": "scheme:5967007LIEEXZXJOX483",
"period": "2021-01-01T00:00:00/2022-01-01T00:00:00",
"unit": "iso4217:NOK"
}
},
"f15051": {
"value": "11851000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:PaymentsForDevelopmentProjectExpenditure",
"entity": "scheme:5967007LIEEXZXJOX483",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
"unit": "iso4217:NOK"
}
},
"f15054": {
"value": "4083000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:PaymentsForDevelopmentProjectExpenditure",
"entity": "scheme:5967007LIEEXZXJOX483",
"period": "2021-01-01T00:00:00/2022-01-01T00:00:00",
"unit": "iso4217:NOK"
}
},
"f15061": {
"value": "-21102000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:CashFlowsFromUsedInInvestingActivities",
"entity": "scheme:5967007LIEEXZXJOX483",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
"unit": "iso4217:NOK"
}
},
"f15064": {
"value": "-11486000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:CashFlowsFromUsedInInvestingActivities",
"entity": "scheme:5967007LIEEXZXJOX483",
"period": "2021-01-01T00:00:00/2022-01-01T00:00:00",
"unit": "iso4217:NOK"
}
},
"f15074": {
"value": "0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:RepaymentsOfBorrowingsClassifiedAsFinancingActivities",
"entity": "scheme:5967007LIEEXZXJOX483",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
"unit": "iso4217:NOK"
}
},
"f15077": {
"value": "4500000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:RepaymentsOfBorrowingsClassifiedAsFinancingActivities",
"entity": "scheme:5967007LIEEXZXJOX483",
"period": "2021-01-01T00:00:00/2022-01-01T00:00:00",
"unit": "iso4217:NOK"
}
},
"f15083": {
"value": "68396000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:DividendsPaidClassifiedAsFinancingActivities",
"entity": "scheme:5967007LIEEXZXJOX483",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
"unit": "iso4217:NOK"
}
},
"f15087": {
"value": "54640000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:DividendsPaidClassifiedAsFinancingActivities",
"entity": "scheme:5967007LIEEXZXJOX483",
"period": "2021-01-01T00:00:00/2022-01-01T00:00:00",
"unit": "iso4217:NOK"
}
},
"f15096": {
"value": "7312000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:PaymentsOfLeaseLiabilitiesClassifiedAsFinancingActivities",
"entity": "scheme:5967007LIEEXZXJOX483",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
"unit": "iso4217:NOK"
}
},
"f15099": {
"value": "7502000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:PaymentsOfLeaseLiabilitiesClassifiedAsFinancingActivities",
"entity": "scheme:5967007LIEEXZXJOX483",
"period": "2021-01-01T00:00:00/2022-01-01T00:00:00",
"unit": "iso4217:NOK"
}
},
"f15104": {
"value": "5404000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:OtherInflowsOutflowsOfCashClassifiedAsFinancingActivities",
"entity": "scheme:5967007LIEEXZXJOX483",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
"unit": "iso4217:NOK"
}
},
"f15107": {
"value": "7589000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:OtherInflowsOutflowsOfCashClassifiedAsFinancingActivities",
"entity": "scheme:5967007LIEEXZXJOX483",
"period": "2021-01-01T00:00:00/2022-01-01T00:00:00",
"unit": "iso4217:NOK"
}
},
"f15113": {
"value": "-70304000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:CashFlowsFromUsedInFinancingActivities",
"entity": "scheme:5967007LIEEXZXJOX483",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
"unit": "iso4217:NOK"
}
},
"f15116": {
"value": "-59053000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:CashFlowsFromUsedInFinancingActivities",
"entity": "scheme:5967007LIEEXZXJOX483",
"period": "2021-01-01T00:00:00/2022-01-01T00:00:00",
"unit": "iso4217:NOK"
}
},
"f15123": {
"value": "1066000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:EffectOfExchangeRateChangesOnCashAndCashEquivalents",
"entity": "scheme:5967007LIEEXZXJOX483",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
"unit": "iso4217:NOK"
}
},
"f15127": {
"value": "764000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:EffectOfExchangeRateChangesOnCashAndCashEquivalents",
"entity": "scheme:5967007LIEEXZXJOX483",
"period": "2021-01-01T00:00:00/2022-01-01T00:00:00",
"unit": "iso4217:NOK"
}
},
"f15133": {
"value": "23151000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:IncreaseDecreaseInCashAndCashEquivalents",
"entity": "scheme:5967007LIEEXZXJOX483",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
"unit": "iso4217:NOK"
}
},
"f15136": {
"value": "57599000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:IncreaseDecreaseInCashAndCashEquivalents",
"entity": "scheme:5967007LIEEXZXJOX483",
"period": "2021-01-01T00:00:00/2022-01-01T00:00:00",
"unit": "iso4217:NOK"
}
},
"f15141": {
"value": "129490000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:Cash",
"entity": "scheme:5967007LIEEXZXJOX483",
"period": "2022-01-01T00:00:00",
"unit": "iso4217:NOK"
}
},
"f15144": {
"value": "71891000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:Cash",
"entity": "scheme:5967007LIEEXZXJOX483",
"period": "2021-01-01T00:00:00",
"unit": "iso4217:NOK"
}
},
"f15151": {
"value": "152641000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:Cash",
"entity": "scheme:5967007LIEEXZXJOX483",
"period": "2023-01-01T00:00:00",
"unit": "iso4217:NOK"
}
},
"f15154": {
"value": "129490000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:Cash",
"entity": "scheme:5967007LIEEXZXJOX483",
"period": "2022-01-01T00:00:00",
"unit": "iso4217:NOK"
}
},
"f15165": {
"value": "144164000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:CashAndCashEquivalents",
"entity": "scheme:5967007LIEEXZXJOX483",
"period": "2023-01-01T00:00:00",
"unit": "iso4217:NOK"
}
},
"f15168": {
"value": "124866000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:CashAndCashEquivalents",
"entity": "scheme:5967007LIEEXZXJOX483",
"period": "2022-01-01T00:00:00",
"unit": "iso4217:NOK"
}
},
"f15178": {
"value": "8477000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:RestrictedCashAndCashEquivalents",
"entity": "scheme:5967007LIEEXZXJOX483",
"period": "2023-01-01T00:00:00",
"unit": "iso4217:NOK"
}
},
"f15181": {
"value": "4624000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:RestrictedCashAndCashEquivalents",
"entity": "scheme:5967007LIEEXZXJOX483",
"period": "2022-01-01T00:00:00",
"unit": "iso4217:NOK"
}
},
"f15187": {
"value": "152641000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:CashAndCashEquivalentsIfDifferentFromStatementOfFinancialPosition",
"entity": "scheme:5967007LIEEXZXJOX483",
"period": "2023-01-01T00:00:00",
"unit": "iso4217:NOK"
}
},
"f15190": {
"value": "129490000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:CashAndCashEquivalentsIfDifferentFromStatementOfFinancialPosition",
"entity": "scheme:5967007LIEEXZXJOX483",
"period": "2022-01-01T00:00:00",
"unit": "iso4217:NOK"
}
},
"f15256": {
"value": "4585000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:Equity",
"entity": "scheme:5967007LIEEXZXJOX483",
"period": "2021-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:IssuedCapitalMember",
"unit": "iso4217:NOK"
}
},
"f15260": {
"value": "-33000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:Equity",
"entity": "scheme:5967007LIEEXZXJOX483",
"period": "2021-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:TreasurySharesMember",
"unit": "iso4217:NOK"
}
},
"f15263": {
"value": "41852000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:Equity",
"entity": "scheme:5967007LIEEXZXJOX483",
"period": "2021-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:SharePremiumMember",
"unit": "iso4217:NOK"
}
},
"f15266": {
"value": "5762000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:Equity",
"entity": "scheme:5967007LIEEXZXJOX483",
"period": "2021-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:AdditionalPaidinCapitalMember",
"unit": "iso4217:NOK"
}
},
"f15269": {
"value": "52165000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:Equity",
"entity": "scheme:5967007LIEEXZXJOX483",
"period": "2021-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "MED:PaidInCapitalMember",
"unit": "iso4217:NOK"
}
},
"f15273": {
"value": "781000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:Equity",
"entity": "scheme:5967007LIEEXZXJOX483",
"period": "2021-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:OtherReservesMember",
"unit": "iso4217:NOK"
}
},
"f15277": {
"value": "203899000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:Equity",
"entity": "scheme:5967007LIEEXZXJOX483",
"period": "2021-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:RetainedEarningsMember",
"unit": "iso4217:NOK"
}
},
"f15280": {
"value": "204680000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:Equity",
"entity": "scheme:5967007LIEEXZXJOX483",
"period": "2021-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "MED:RetainedEarningsAndOtherReservesMember",
"unit": "iso4217:NOK"
}
},
"f15283": {
"value": "256845000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:Equity",
"entity": "scheme:5967007LIEEXZXJOX483",
"period": "2021-01-01T00:00:00",
"unit": "iso4217:NOK"
}
},
"f15291": {
"value": "0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:ComprehensiveIncome",
"entity": "scheme:5967007LIEEXZXJOX483",
"period": "2021-01-01T00:00:00/2022-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:IssuedCapitalMember",
"unit": "iso4217:NOK"
}
},
"f15294": {
"value": "0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:ComprehensiveIncome",
"entity": "scheme:5967007LIEEXZXJOX483",
"period": "2021-01-01T00:00:00/2022-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:TreasurySharesMember",
"unit": "iso4217:NOK"
}
},
"f15297": {
"value": "0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:ComprehensiveIncome",
"entity": "scheme:5967007LIEEXZXJOX483",
"period": "2021-01-01T00:00:00/2022-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:SharePremiumMember",
"unit": "iso4217:NOK"
}
},
"f15300": {
"value": "0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:ComprehensiveIncome",
"entity": "scheme:5967007LIEEXZXJOX483",
"period": "2021-01-01T00:00:00/2022-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:AdditionalPaidinCapitalMember",
"unit": "iso4217:NOK"
}
},
"f15304": {
"value": "0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:ComprehensiveIncome",
"entity": "scheme:5967007LIEEXZXJOX483",
"period": "2021-01-01T00:00:00/2022-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "MED:PaidInCapitalMember",
"unit": "iso4217:NOK"
}
},
"f15308": {
"value": "5357000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:ComprehensiveIncome",
"entity": "scheme:5967007LIEEXZXJOX483",
"period": "2021-01-01T00:00:00/2022-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:OtherReservesMember",
"unit": "iso4217:NOK"
}
},
"f15311": {
"value": "90900000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:ComprehensiveIncome",
"entity": "scheme:5967007LIEEXZXJOX483",
"period": "2021-01-01T00:00:00/2022-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:RetainedEarningsMember",
"unit": "iso4217:NOK"
}
},
"f15315": {
"value": "96257000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:ComprehensiveIncome",
"entity": "scheme:5967007LIEEXZXJOX483",
"period": "2021-01-01T00:00:00/2022-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "MED:RetainedEarningsAndOtherReservesMember",
"unit": "iso4217:NOK"
}
},
"f15319": {
"value": "96257000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:ComprehensiveIncome",
"entity": "scheme:5967007LIEEXZXJOX483",
"period": "2021-01-01T00:00:00/2022-01-01T00:00:00",
"unit": "iso4217:NOK"
}
},
"f15326": {
"value": "0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:IncreaseDecreaseThroughSharebasedPaymentTransactions",
"entity": "scheme:5967007LIEEXZXJOX483",
"period": "2021-01-01T00:00:00/2022-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:IssuedCapitalMember",
"unit": "iso4217:NOK"
}
},
"f15330": {
"value": "7000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:IncreaseDecreaseThroughSharebasedPaymentTransactions",
"entity": "scheme:5967007LIEEXZXJOX483",
"period": "2021-01-01T00:00:00/2022-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:TreasurySharesMember",
"unit": "iso4217:NOK"
}
},
"f15333": {
"value": "0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:IncreaseDecreaseThroughSharebasedPaymentTransactions",
"entity": "scheme:5967007LIEEXZXJOX483",
"period": "2021-01-01T00:00:00/2022-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:SharePremiumMember",
"unit": "iso4217:NOK"
}
},
"f15337": {
"value": "7582000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:IncreaseDecreaseThroughSharebasedPaymentTransactions",
"entity": "scheme:5967007LIEEXZXJOX483",
"period": "2021-01-01T00:00:00/2022-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:AdditionalPaidinCapitalMember",
"unit": "iso4217:NOK"
}
},
"f15341": {
"value": "7589000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:IncreaseDecreaseThroughSharebasedPaymentTransactions",
"entity": "scheme:5967007LIEEXZXJOX483",
"period": "2021-01-01T00:00:00/2022-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "MED:PaidInCapitalMember",
"unit": "iso4217:NOK"
}
},
"f15344": {
"value": "0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:IncreaseDecreaseThroughSharebasedPaymentTransactions",
"entity": "scheme:5967007LIEEXZXJOX483",
"period": "2021-01-01T00:00:00/2022-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:OtherReservesMember",
"unit": "iso4217:NOK"
}
},
"f15347": {
"value": "0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:IncreaseDecreaseThroughSharebasedPaymentTransactions",
"entity": "scheme:5967007LIEEXZXJOX483",
"period": "2021-01-01T00:00:00/2022-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:RetainedEarningsMember",
"unit": "iso4217:NOK"
}
},
"f15351": {
"value": "0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:IncreaseDecreaseThroughSharebasedPaymentTransactions",
"entity": "scheme:5967007LIEEXZXJOX483",
"period": "2021-01-01T00:00:00/2022-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "MED:RetainedEarningsAndOtherReservesMember",
"unit": "iso4217:NOK"
}
},
"f15355": {
"value": "7589000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:IncreaseDecreaseThroughSharebasedPaymentTransactions",
"entity": "scheme:5967007LIEEXZXJOX483",
"period": "2021-01-01T00:00:00/2022-01-01T00:00:00",
"unit": "iso4217:NOK"
}
},
"f15361": {
"value": "0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:DividendsPaid",
"entity": "scheme:5967007LIEEXZXJOX483",
"period": "2021-01-01T00:00:00/2022-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:IssuedCapitalMember",
"unit": "iso4217:NOK"
}
},
"f15364": {
"value": "0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:DividendsPaid",
"entity": "scheme:5967007LIEEXZXJOX483",
"period": "2021-01-01T00:00:00/2022-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:TreasurySharesMember",
"unit": "iso4217:NOK"
}
},
"f15367": {
"value": "0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:DividendsPaid",
"entity": "scheme:5967007LIEEXZXJOX483",
"period": "2021-01-01T00:00:00/2022-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:SharePremiumMember",
"unit": "iso4217:NOK"
}
},
"f15370": {
"value": "0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:DividendsPaid",
"entity": "scheme:5967007LIEEXZXJOX483",
"period": "2021-01-01T00:00:00/2022-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:AdditionalPaidinCapitalMember",
"unit": "iso4217:NOK"
}
},
"f15374": {
"value": "0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:DividendsPaid",
"entity": "scheme:5967007LIEEXZXJOX483",
"period": "2021-01-01T00:00:00/2022-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "MED:PaidInCapitalMember",
"unit": "iso4217:NOK"
}
},
"f15378": {
"value": "0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:DividendsPaid",
"entity": "scheme:5967007LIEEXZXJOX483",
"period": "2021-01-01T00:00:00/2022-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:OtherReservesMember",
"unit": "iso4217:NOK"
}
},
"f15382": {
"value": "54640000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:DividendsPaid",
"entity": "scheme:5967007LIEEXZXJOX483",
"period": "2021-01-01T00:00:00/2022-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:RetainedEarningsMember",
"unit": "iso4217:NOK"
}
},
"f15386": {
"value": "54640000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:DividendsPaid",
"entity": "scheme:5967007LIEEXZXJOX483",
"period": "2021-01-01T00:00:00/2022-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "MED:RetainedEarningsAndOtherReservesMember",
"unit": "iso4217:NOK"
}
},
"f15389": {
"value": "54640000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:DividendsPaid",
"entity": "scheme:5967007LIEEXZXJOX483",
"period": "2021-01-01T00:00:00/2022-01-01T00:00:00",
"unit": "iso4217:NOK"
}
},
"f15394": {
"value": "4585000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:Equity",
"entity": "scheme:5967007LIEEXZXJOX483",
"period": "2022-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:IssuedCapitalMember",
"unit": "iso4217:NOK"
}
},
"f15398": {
"value": "-26000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:Equity",
"entity": "scheme:5967007LIEEXZXJOX483",
"period": "2022-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:TreasurySharesMember",
"unit": "iso4217:NOK"
}
},
"f15401": {
"value": "41852000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:Equity",
"entity": "scheme:5967007LIEEXZXJOX483",
"period": "2022-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:SharePremiumMember",
"unit": "iso4217:NOK"
}
},
"f15404": {
"value": "13344000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:Equity",
"entity": "scheme:5967007LIEEXZXJOX483",
"period": "2022-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:AdditionalPaidinCapitalMember",
"unit": "iso4217:NOK"
}
},
"f15407": {
"value": "59754000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:Equity",
"entity": "scheme:5967007LIEEXZXJOX483",
"period": "2022-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "MED:PaidInCapitalMember",
"unit": "iso4217:NOK"
}
},
"f15411": {
"value": "6138000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:Equity",
"entity": "scheme:5967007LIEEXZXJOX483",
"period": "2022-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:OtherReservesMember",
"unit": "iso4217:NOK"
}
},
"f15414": {
"value": "240160000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:Equity",
"entity": "scheme:5967007LIEEXZXJOX483",
"period": "2022-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:RetainedEarningsMember",
"unit": "iso4217:NOK"
}
},
"f15417": {
"value": "246298000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:Equity",
"entity": "scheme:5967007LIEEXZXJOX483",
"period": "2022-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "MED:RetainedEarningsAndOtherReservesMember",
"unit": "iso4217:NOK"
}
},
"f15420": {
"value": "306052000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:Equity",
"entity": "scheme:5967007LIEEXZXJOX483",
"period": "2022-01-01T00:00:00",
"unit": "iso4217:NOK"
}
},
"f15428": {
"value": "0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:ComprehensiveIncome",
"entity": "scheme:5967007LIEEXZXJOX483",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:IssuedCapitalMember",
"unit": "iso4217:NOK"
}
},
"f15431": {
"value": "0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:ComprehensiveIncome",
"entity": "scheme:5967007LIEEXZXJOX483",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:TreasurySharesMember",
"unit": "iso4217:NOK"
}
},
"f15434": {
"value": "0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:ComprehensiveIncome",
"entity": "scheme:5967007LIEEXZXJOX483",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:SharePremiumMember",
"unit": "iso4217:NOK"
}
},
"f15437": {
"value": "0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:ComprehensiveIncome",
"entity": "scheme:5967007LIEEXZXJOX483",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:AdditionalPaidinCapitalMember",
"unit": "iso4217:NOK"
}
},
"f15441": {
"value": "0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:ComprehensiveIncome",
"entity": "scheme:5967007LIEEXZXJOX483",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "MED:PaidInCapitalMember",
"unit": "iso4217:NOK"
}
},
"f15445": {
"value": "10659000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:ComprehensiveIncome",
"entity": "scheme:5967007LIEEXZXJOX483",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:OtherReservesMember",
"unit": "iso4217:NOK"
}
},
"f15448": {
"value": "113973000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:ComprehensiveIncome",
"entity": "scheme:5967007LIEEXZXJOX483",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:RetainedEarningsMember",
"unit": "iso4217:NOK"
}
},
"f15452": {
"value": "124632000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:ComprehensiveIncome",
"entity": "scheme:5967007LIEEXZXJOX483",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "MED:RetainedEarningsAndOtherReservesMember",
"unit": "iso4217:NOK"
}
},
"f15455": {
"value": "124632000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:ComprehensiveIncome",
"entity": "scheme:5967007LIEEXZXJOX483",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
"unit": "iso4217:NOK"
}
},
"f15462": {
"value": "0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:IncreaseDecreaseThroughSharebasedPaymentTransactions",
"entity": "scheme:5967007LIEEXZXJOX483",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:IssuedCapitalMember",
"unit": "iso4217:NOK"
}
},
"f15466": {
"value": "6000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:IncreaseDecreaseThroughSharebasedPaymentTransactions",
"entity": "scheme:5967007LIEEXZXJOX483",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:TreasurySharesMember",
"unit": "iso4217:NOK"
}
},
"f15469": {
"value": "0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:IncreaseDecreaseThroughSharebasedPaymentTransactions",
"entity": "scheme:5967007LIEEXZXJOX483",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:SharePremiumMember",
"unit": "iso4217:NOK"
}
},
"f15473": {
"value": "5398000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:IncreaseDecreaseThroughSharebasedPaymentTransactions",
"entity": "scheme:5967007LIEEXZXJOX483",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:AdditionalPaidinCapitalMember",
"unit": "iso4217:NOK"
}
},
"f15477": {
"value": "5404000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:IncreaseDecreaseThroughSharebasedPaymentTransactions",
"entity": "scheme:5967007LIEEXZXJOX483",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "MED:PaidInCapitalMember",
"unit": "iso4217:NOK"
}
},
"f15480": {
"value": "0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:IncreaseDecreaseThroughSharebasedPaymentTransactions",
"entity": "scheme:5967007LIEEXZXJOX483",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:OtherReservesMember",
"unit": "iso4217:NOK"
}
},
"f15483": {
"value": "0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:IncreaseDecreaseThroughSharebasedPaymentTransactions",
"entity": "scheme:5967007LIEEXZXJOX483",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:RetainedEarningsMember",
"unit": "iso4217:NOK"
}
},
"f15487": {
"value": "0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:IncreaseDecreaseThroughSharebasedPaymentTransactions",
"entity": "scheme:5967007LIEEXZXJOX483",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "MED:RetainedEarningsAndOtherReservesMember",
"unit": "iso4217:NOK"
}
},
"f15491": {
"value": "5404000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:IncreaseDecreaseThroughSharebasedPaymentTransactions",
"entity": "scheme:5967007LIEEXZXJOX483",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
"unit": "iso4217:NOK"
}
},
"f15497": {
"value": "0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:DividendsPaid",
"entity": "scheme:5967007LIEEXZXJOX483",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:IssuedCapitalMember",
"unit": "iso4217:NOK"
}
},
"f15500": {
"value": "0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:DividendsPaid",
"entity": "scheme:5967007LIEEXZXJOX483",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:TreasurySharesMember",
"unit": "iso4217:NOK"
}
},
"f15503": {
"value": "0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:DividendsPaid",
"entity": "scheme:5967007LIEEXZXJOX483",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:SharePremiumMember",
"unit": "iso4217:NOK"
}
},
"f15506": {
"value": "0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:DividendsPaid",
"entity": "scheme:5967007LIEEXZXJOX483",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:AdditionalPaidinCapitalMember",
"unit": "iso4217:NOK"
}
},
"f15510": {
"value": "0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:DividendsPaid",
"entity": "scheme:5967007LIEEXZXJOX483",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "MED:PaidInCapitalMember",
"unit": "iso4217:NOK"
}
},
"f15513": {
"value": "0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:DividendsPaid",
"entity": "scheme:5967007LIEEXZXJOX483",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:OtherReservesMember",
"unit": "iso4217:NOK"
}
},
"f15517": {
"value": "68396000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:DividendsPaid",
"entity": "scheme:5967007LIEEXZXJOX483",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:RetainedEarningsMember",
"unit": "iso4217:NOK"
}
},
"f15521": {
"value": "68396000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:DividendsPaid",
"entity": "scheme:5967007LIEEXZXJOX483",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "MED:RetainedEarningsAndOtherReservesMember",
"unit": "iso4217:NOK"
}
},
"f15524": {
"value": "68396000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:DividendsPaid",
"entity": "scheme:5967007LIEEXZXJOX483",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
"unit": "iso4217:NOK"
}
},
"f15528": {
"value": "4585000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:Equity",
"entity": "scheme:5967007LIEEXZXJOX483",
"period": "2023-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:IssuedCapitalMember",
"unit": "iso4217:NOK"
}
},
"f15531": {
"value": "-21000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:Equity",
"entity": "scheme:5967007LIEEXZXJOX483",
"period": "2023-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:TreasurySharesMember",
"unit": "iso4217:NOK"
}
},
"f15534": {
"value": "41852000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:Equity",
"entity": "scheme:5967007LIEEXZXJOX483",
"period": "2023-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:SharePremiumMember",
"unit": "iso4217:NOK"
}
},
"f15537": {
"value": "18742000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:Equity",
"entity": "scheme:5967007LIEEXZXJOX483",
"period": "2023-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:AdditionalPaidinCapitalMember",
"unit": "iso4217:NOK"
}
},
"f15540": {
"value": "65158000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:Equity",
"entity": "scheme:5967007LIEEXZXJOX483",
"period": "2023-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "MED:PaidInCapitalMember",
"unit": "iso4217:NOK"
}
},
"f15543": {
"value": "16797000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:Equity",
"entity": "scheme:5967007LIEEXZXJOX483",
"period": "2023-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:OtherReservesMember",
"unit": "iso4217:NOK"
}
},
"f15546": {
"value": "285736000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:Equity",
"entity": "scheme:5967007LIEEXZXJOX483",
"period": "2023-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:RetainedEarningsMember",
"unit": "iso4217:NOK"
}
},
"f15549": {
"value": "302533000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:Equity",
"entity": "scheme:5967007LIEEXZXJOX483",
"period": "2023-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "MED:RetainedEarningsAndOtherReservesMember",
"unit": "iso4217:NOK"
}
},
"f15552": {
"value": "367691000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:Equity",
"entity": "scheme:5967007LIEEXZXJOX483",
"period": "2023-01-01T00:00:00",
"unit": "iso4217:NOK"
}
},
"s9_notes__6__18-1": {
"value": "10.5 Accounting PrinciplesMedistim ASA is a public company listed at the Oslo stock exchange. Medistim ASA is incorporated in Norway. The main office is located in \u00d8kernveien 94, 0579 Oslo, Norway. The Medistim group\u2019sbusiness is within developing, producing, service, leasing and distribution of medical devices. The board of Directors and the CEO authorized these financial statements for issue on March 23, 2023.Basis for preparation of financial statementsThe financial statement for the group is prepared in accordance with International Financial Reporting standard (IFRS) as adopted by the EU and effective as of 31.12.2022.The annual accounts for the group and the group has been prepared based on historical cost with exception of financial derivatives which are measured at fair value. The consolidated accounts have been prepared using consistent accounting policies for similar transactions and events.The accounting principles for the group for 2022 are the same as for the principles used in 2021. New standards from 2022 have not had any significant effects compared to 2021 standards.Functional currency and the presentation currencyThe group presents its financial statements in NOK. This is also the functional currency for the parent company. Asset and liabilities of subsidiaries with other functional currency than NOK, are translated to NOK using the exchange rate at the balance sheet date. For the income statement, the average monthly rate in the period is used. Translation differences arising from translation to presentation currency, is recognized in other comprehensive income.Principles for consolidationThe consolidated accounts include Medistim ASA and companies controlled by Medistim ASA. Control normally exists when the Group has more than 50 % of the shares in the investee. Currently all subsidiaries are wholly owned. Intercompany transactions, balances and unrealized gains and losses are eliminated.Cash and cash EquivalentsCash includes cash in hand and bank deposits.Cash equivalents are short-term, highly liquid investments that are readily convertible to cash and which are subject to an insignificant risk of changes in value. Classified as financial asset. Accounts receivableAccounts receivable that do not contain asignificant financing component, are recognized at the transaction price with a deduction for expected credit losses. Classified as financial asset. InventoryInventory is valued at the lower of cost, using the FIFO principle, and net realizable value. Production cost includes the cost for components, cost ofconversion (including direct labor cost) and other cost in bringing the inventories to their present location and condition. Net realizable value is the estimated sales price in the ordinary course ofbusiness less cost of completion and selling cost. Property, plant and equipment Property, plant and equipment is recorded at cost less accumulated depreciations and write-downs. When an asset is sold, the carrying value of the asset is derecognized and any gain or loss from the sale is recognized in the income statement.The cost of an acquired item of property, plant and equipment comprises of the purchase price, non-refundable taxes and other direct cost incurred in order to be able to use the asset as intended. The cost for a self-constructed item of property, plant or equipment is the same as the cost ofconstruction the asset for sale. Cost includematerials, labor costs and an allocation ofproduction overheads. The cost allocated to the asset is based upon the time spent to build the asset. Costs incurred for major replacements andupdates are added to cost if it is probable that the cost will bring future economic benefit and the cost can be reliably measured. If new parts are capitalized, replace parts are derecognized. Repair and maintenance costs are expensed as incurred. Items of property, plant and equipment aredepreciated straight line over the estimated useful life from the time it is available for use. Useful life is as follows:\u2022 Machinery and equipment 3-7 years\u2022 Other assets 3-5 yearsDepreciation time and method is evaluated on a yearly basis.Property, plant and equipment are tested forimpairment if there are indication of impairment. If the carrying amount exceeds the assets recoverable amount, being the higher of value in use and fair value less cost of disposal, the asset is written down to the recoverable amount. Leasing The group as a lesseeThe company recognizes a lease liability and a right-of-use asset for leases with a duration of more than 12 months, provided that the underlying asset is not of low value. The lease liability is the present value of the lease payment over the lease term. Lease payment includes fixed payments and variable leasepayments that depend on an index or a rate. The lease term is the non-cancelable period of the lease together periods covered by an option to extend the lease when the exercise of the option is reasonably certain. The lease payments are generally discounted using the company\u2019s incremental borrowing rate, as the rate implicit in the lease generally cannot easily be determined. The cost of the right of use assets comprises the initial measurement of the lease liability, any lease payments made before the commencement date an any initial direct cost incurred. Right-of-use assets are depreciated over the shortest of the lease term and useful life. Depreciation of right-of-use assets is presented together with other depreciation in the income statement. Lease payments are allocated between installments and interest based on a constant periodic rate of interest being the interest used to calculate the lease liability. The interest expense is presented as a financial expense in the income statement. The group as lessorThe assets that are leased to customers are recognized as property, plant and equipment in the balance sheet. Direct cost related to the leasing agreement is added to the carrying amount of the leased assets and is depreciated over the lease term. The group has one type of lease agreement. See note 1 for a description of recognition of lease revenue, and note 2 for a split of lease revenue on different product categories. Derivatives The group may use forward exchange contracts to reduce exposure towards USD and EUR. Financial derivates are recognized at fair value through profit and loss. Change in fair value is recognized in profit and loss and is presented as financial income or expense. Unrealized gains or losses are recorded in the same manner as realized gains and losses. Hedge accounting is not applied. Intangible assetsIntangible assets are recognized in the balance sheet if it is probable that the future economic benefits will flow to the company, and the cost of the asset can be measured reliable. Intangible asset with finite economic life ismeasured at cost less accumulated amortization and write-downs. Amortization is done on astraight-line basis over expected lifetime. Theamortization period and method, are reviewed on a yearly basis.Intangible assets with indefinite useful life arenot amortized, but tested for impairment at least annually. Business combinations and goodwillBusiness combinations are accounted for using the acquisition method. Goodwill is recognized as the difference between the aggregate of the consideration transferred and the amount of any non-controlling interest less the fair value of the net identifiable assets at the acquisition date. Goodwill is not depreciated, but is tested forimpairment at least annually. Research and developmentResearch cost is expensed as incurred. Cost to internal development of technology or software is capitalized as an intangible asset when it is demonstrated that -it is technically feasible to complete the asset,-the company has the recourse to complete the project-the product will generate future economic benefits, and-expenditure can be reliably measured.Cost capitalized include materials, salary and social expenses and other expenses that can be allocated to the development of the asset. Internally developed intangible assets are amortized on a straight-line basis over the expected useful life. Amortization starts when the asset is available for use. Intangible assets not ready for use, is tested for impairment on a yearly basis.Capitalized development costs are written down when a new product is ready for sale or an improved product is ready for sale. Internally developed intangible asset is tested for impairment on a regular basis by discounting expected cash flow generated from the asset. If the discounted value is lower than the carrying amount the asset is written down.Own productsCapitalized cost related to development of own products are depreciated on a straight-line basis over expected lifetime. Expected lifetime varies from 3 to 8 years. ProvisionsA provision is recognized when the group has an obligation arising from a past event, when it is probable that company will be required to settle the obligation, and the obligation can be reliable measured. The Group provides warranties for general repairs of defects that existed at the time of sale, as required by law. Provisions related to these assurance-type warranties are recognized when the product is sold or the service is provided to the customer. Initial recognition is based on historical experience. The initial estimate of warranty-related costs is revised annually.Equity and debtFinancial instruments are classified as debt or equity according the economic substance of the financial instrument. Interest, dividend, profit and loss related to a financial instrument are classified as debt, will be presented as an expense or revenue. Amounts distributed to holders of financial instruments classified as equity will be recorded directly against equity.Treasury sharesWhen treasury shares are purchased, the purchase price including directly attributable costs is recognized in equity. Treasury shares are presented as a reduction of equity. Loss or gain on transactions of treasury shares are not recognized in the income statement. Cost related to equity transactionsTransaction costs related to equity transactions are recorded directly against equity in the balance sheet net after tax.Translation differences Translation differences arise in connection with ex-change-rate differences of consolidated foreign en-tities. Translation differences are recognized in other comprehensive income and presented as \u201cother re-serves\u201d in the balance sheet. Translation differences is recognized in profit and loss when the investment is sold.Exchange rate differences on monetary assets and lia-bilities that in substance is part of the net investment in a foreign operation, is also included in translation differences.Revenue recognitionRevenue from contracts with customers is recognized when control of the goods or services are transferred to the customer at an amount that reflects the consideration to which the Group expects to be entitled in exchange for those goods or services. Revenue recognition policies are described in detail in note 1. FOREIGN CURRENCYTransactions in foreign currency Transactions in foreign currency are translated to functional currency using the exchange rate at the date of the transaction. Financial instruments in foreign currency are translated to Norwegian kroner at the closing rate of the balance day. Non-financial items measured at historic cost are translated to Norwegian kroner using the exchange rate at the time of the transaction. Changes in exchange rates are recorded in the profit and loss statement as either financial income or financial expense. Foreign subsidiariesAssets, liabilities and goodwill in foreign subsidiaries that are consolidated are translated to Norwegian kroner at the date of the balance sheet. Revenue and expenses are translated to Norwegian kroner using the monthly average rate.PENSION AND OTHER EMPLOYEE BENEFITSContribution pension planEmployees in Medistim with a pension plan are included in a contribution plan where an agreed percentage of the employee\u2019s salary is paid to the employee pension account. The company\u2019s payment of contributions is expensed in the period it is incurred.Share based paymentsThe Group has a share-based payment scheme for its CEO. The program is settled in shares. The fair value of the share program at the grant date, is expensed over the vesting period. The expense is included in \u201csalary and social expenses\u201d in the income statement and a corresponding amount is recognized as other paid-in capital.Interest bearing loans and borrowings.Loan and borrowings are initially recognized at fair value net of directly attributable transaction costs, and subsequently measuring at amortized cost. TaxThe tax expense in the income statement includes both payable taxes for the period and changes in deferred tax. Deferred tax is calculated based on temporary differences between tax values and carrying amount of assets and liabilities.A deferred tax asset is recognized when it is convincing evidence that the company will have sufficient taxable profit in the future to utilize the tax asset. The companies recognize previously unrecognized deferred tax assets to the extent it has become probable that the company can utilize the deferred tax asset. Similarly, the company will reduce a deferred tax asset to the extent that the company no longer regards it as probable that it can utilize the deferred tax asset.Deferred tax and deferred tax assets are determined using the tax rates that have been enacted or substantively enacted by the reporting date and are expected to apply when the deferred tax asset is settled/recovered. Deferred tax and tax assets are measured at nominal value and is classified as a non-current asset in the balance sheet. Tax payable and deferred tax is recorded against equity if the transaction is an equity transaction.SegmentThe group is organized, for management purpose, in two divisions dependent upon products and services. The segments are identified based upon different risk and return on investment profile. Information regarding segments is presented in note 2.Internal profit between the segments is eliminated .The segment reporting is similar to the internal reports that are given to the decision makers in the company. The decision makers are responsible for allocating resources and assessing profitability within the segments, and are identified as the management team that takes strategic decisions.Contingent liabilities and assetsContingent liabilities are not recognized in the financial statements. Information about significant contingent liabilities is disclosed.Contingent assets are not recognized in thefinancial statements, but are disclosed if an inflow of economic benefits is probable. Events after the balance sheet dateInformation after the reporting period that provide evidence of conditions that existed at the end of the reporting (\u201dadjusting events\u201d), are reflected in the amounts recognized in the financial statement. Information after the reporting period that are indicative of conditions that arose after thereporting period (\u201cnon-adjusting events\u201d) are not reflected in the amounts recognized in the financial statement, but are disclosed if material.Use of estimates and judgementThe preparation of the consolidated financialstatements requires management to make judgments, estimates and assumptions that effect the recognition and measurement of certain assets, liabilities, revenue and expense. The following area involves the most critical estimates and judgments for the company: \u0373 Research and development cost relating tointernally developed technology and software \u0373 Goodwill.Future events could lead to a change in estimates. The estimates and assumptions for the estimates are continuously evaluated. Changes in accounting estimates are recognized in the period the change take place. If the change also affect future periods, the effect on future periods will be recognized as income or expense in those future periods. Of events that has affected future estimates is the COVID 19 pandemic. By-pass surgery is to a large extent elective surgery. When the outbreak of COVID 19 was a fact, several by-pass surgeries where postponed. As a consequence, the activity level within by-pass surgery was reduced compared to normal level. Medistim has over several years had a growth of 7% to 10 % per year, but because of COVID 19 sales in 2020 without growth compared to 2019. The reduced activity level was as expected temporary, and in 2021 activity level increased above normal to reduce the build up of patient queues.While Medistim has been affected by the COVID situation, the company have been able to deliver solid profit and cash flow. The need for Medistim\u2019s products has not changed, and the strong recovery seen through 2022 may indicate that cardiac bypass surgeries are at large back to normal. However, there are still some uncertainties related to new variants of the virus. The expected COVID 19 effects are included in the estimates and none of the balance sheet values was impaired. See also note 12. GoodwillThe group\u2019s goodwill in the balance sheet is yearly tested for impairment. Goodwill occurred with the acquisition of Medi-Stim Norge AS, which was executed with effect from 01.01.02, and the acquisition of Kir-Op AS that was executed with effect from 06.07.06. Total recorded goodwill by year-end 2020 was 14.1 MNOK. Goodwill of MNOK 7.9 was allocated to the Medi-Stim Norge AS acquisition and MNOK 6.2 was allocated at the Kir-Op AS acquisition. Goodwill in both companies is related to employee know-how, experience in the distribution business and cost savings by gathering common functions. Both companies distribute third party products within surgery. During 2006, there was a fusion of the two companies and a otal evaluation for both companies in relation to impairment was done for goodwill thereafter. Both entities are within the same segment. The total value of the business is dependent upon the success of maintaining and increasing the product portfolio. The value from the cash-generating unit exceeded the book value in the balance sheet and the goodwill value for 2021 was not impaired. See also note 12 for the assumptions used in the estimate.Research and developmentDevelopment cost related to technology andsoftware has been recognized as an intangible asset because Medistim can demonstrate technological feasibility for the asset to be available for sale for both existing products and new products. The revenue potential for the projects exceeds the investment. The balance sheet value as of 31.12.2021 was MNOK 16.0. The estimates that form the basis for the intangible asset are performed by the management of the company, and there will always be a level of uncertainty in relation to the assessments that are performed on future revenue for future products. Activated development costs are depreciated over 3 to 8 years. 8 years is used if it is a new product on a new technological platform that creates the basis for a new generation of products. Based upon a platform or new generation of products there will be further developments and improvements. These enhancements of the products are depreciated over 3 years because of rapid technological development. Within 3 years, it is assumed that parts or all of existing technology is updated.New and amended standards not yet effective There are no new standards, interpretations or amendments that are issued, but not yet effective, that are expected to cause any significant changes for Medistim.10.6 Notes to the accountsNote 1 RevenueGroup revenue can be split in three differentcategories that have different risk and returnon investment profile. The split is according tothe company\u2019s internal reporting structure. Thecategories are as follows: 1. Revenue from sale of capital equipment (MiraQ) and consumable (probes) 2. Revenue from lease of equipment (MiraQ andprobes)3. Distribution and sales of third-party productsCategory 1 and 2 covers the same equipment(MiraQ system) and consumables (probes). Theseare the products that are developed and produced by Medistim and distributed through local partners unless Medistim has local representation. 1. Sale of capital equipment and consumable:The sale of the equipment and the sale of theconsumables are considered separate deliveries (performance obligations). Revenue recognitionvaries with shipping and delivery terms thatdecide the timing of when the customer takesover control of the goods. Payment termsvaries from 30 to 90 days. The Group provideswarranties for general repairs of defects thatexisted at the time of sale. This is considered asa separate performance obligation. A warrantyprovision is recognized, see note 21.2. Revenue from lease of equipment and probes:The group has a range of contracts related tolease of equipment and probes and can be splitin two categories:a. Payment per proceduresb. Lease of equipment and sale of probesPayment per procedure:Under this model, the equipment and probesare placed at the customer site free of charge.Medistim owns all equipment placed at thecustomer site. For the customer to be able to usethe equipment a procedure (smart card) must bepurchased. One procedure equals one surgery. The customer purchases a smart card that makes thesystem available for use. The agreement is considered a lease with variable lease payments. Revenue is variable and recognized related to the actual use of the equipment and probes. For Medistim this means that revenue is recognized when a new card is shipped to a customer. There are two types of customers, flow customers and flow and imaging customers. Flow customers purchases a flow procedure, while flow and imaging customers purchase both a flow procedure and an imaging procedure. It is therefore a split of revenue between flow procedures and imaging procedures. Revenue is recognized when smart cards are purchased by the customer. The customer is dependent upon the smart card in order to open the equipment and probe for use. The agreements are operational since equipment is returned when the agreement expires.The individual agreement contains a minimum use clause. The duration of the agreement is 1-3 years, but divided into 12-month cycles, so minimum usage applies for 12 months at a time. If minimum usage is not achieved, Medistim has the right to extract the equipment from the customer site.Lease of systems and sales of probes:Under this model, the customer leases the system and purchases probes when needed. The system revenue is recognized on a straight-line basis over the lease term. Probe revenue is recognized when the probe is delivered to the customer.Other terms in the agreements:If a customer with a pay per procedure or lease agreement does not handle the equipmentproperly, the customer is liable towards Medistim to compensate for the damage and repair. It happens that customers after too low consumption want to keep the equipment. In such cases, the customer may purchase the equipment. In this case, this is registered as a system sale.3. Third party sales: Sale of other third-party medical equipment is recognized when the equipment is delivered to the customer.Payment from customers are mainly due within 30 days. Other income in the P&L includes service, spare parts, grants and other income that is not own products or third party products. See note 1 for split of revenue.",
"dimensions": {
"concept": "ifrs-full:DisclosureOfSummaryOfSignificantAccountingPoliciesExplanatory",
"language": "en",
"entity": "scheme:5967007LIEEXZXJOX483",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"s9_notes__6__5": {
"value": "10.5 Accounting PrinciplesMedistim ASA is a public company listed at the Oslo stock exchange. Medistim ASA is incorporated in Norway. The main office is located in \u00d8kernveien 94, 0579 Oslo, Norway. The Medistim group\u2019sbusiness is within developing, producing, service, leasing and distribution of medical devices. The board of Directors and the CEO authorized these financial statements for issue on March 23, 2023.Basis for preparation of financial statementsThe financial statement for the group is prepared in accordance with International Financial Reporting standard (IFRS) as adopted by the EU and effective as of 31.12.2022.The annual accounts for the group and the group has been prepared based on historical cost with exception of financial derivatives which are measured at fair value. The consolidated accounts have been prepared using consistent accounting policies for similar transactions and events.The accounting principles for the group for 2022 are the same as for the principles used in 2021. New standards from 2022 have not had any significant effects compared to 2021 standards.Functional currency and the presentation currencyThe group presents its financial statements in NOK. This is also the functional currency for the parent company. Asset and liabilities of subsidiaries with other functional currency than NOK, are translated to NOK using the exchange rate at the balance sheet date. For the income statement, the average monthly rate in the period is used. Translation differences arising from translation to presentation currency, is recognized in other comprehensive income.Principles for consolidationThe consolidated accounts include Medistim ASA and companies controlled by Medistim ASA. Control normally exists when the Group has more than 50 % of the shares in the investee. Currently all subsidiaries are wholly owned. Intercompany transactions, balances and unrealized gains and losses are eliminated.Cash and cash EquivalentsCash includes cash in hand and bank deposits.Cash equivalents are short-term, highly liquid investments that are readily convertible to cash and which are subject to an insignificant risk of changes in value. Classified as financial asset. Accounts receivableAccounts receivable that do not contain asignificant financing component, are recognized at the transaction price with a deduction for expected credit losses. Classified as financial asset. InventoryInventory is valued at the lower of cost, using the FIFO principle, and net realizable value. Production cost includes the cost for components, cost ofconversion (including direct labor cost) and other cost in bringing the inventories to their present location and condition. Net realizable value is the estimated sales price in the ordinary course ofbusiness less cost of completion and selling cost. Property, plant and equipment Property, plant and equipment is recorded at cost less accumulated depreciations and write-downs. When an asset is sold, the carrying value of the asset is derecognized and any gain or loss from the sale is recognized in the income statement.The cost of an acquired item of property, plant and equipment comprises of the purchase price, non-refundable taxes and other direct cost incurred in order to be able to use the asset as intended. The cost for a self-constructed item of property, plant or equipment is the same as the cost ofconstruction the asset for sale. Cost includematerials, labor costs and an allocation ofproduction overheads. The cost allocated to the asset is based upon the time spent to build the asset. Costs incurred for major replacements andupdates are added to cost if it is probable that the cost will bring future economic benefit and the cost can be reliably measured. If new parts are capitalized, replace parts are derecognized. Repair and maintenance costs are expensed as incurred. Items of property, plant and equipment aredepreciated straight line over the estimated useful life from the time it is available for use. Useful life is as follows:\u2022 Machinery and equipment 3-7 years\u2022 Other assets 3-5 yearsDepreciation time and method is evaluated on a yearly basis.Property, plant and equipment are tested forimpairment if there are indication of impairment. If the carrying amount exceeds the assets recoverable amount, being the higher of value in use and fair value less cost of disposal, the asset is written down to the recoverable amount. Leasing The group as a lesseeThe company recognizes a lease liability and a right-of-use asset for leases with a duration of more than 12 months, provided that the underlying asset is not of low value. The lease liability is the present value of the lease payment over the lease term. Lease payment includes fixed payments and variable leasepayments that depend on an index or a rate. The lease term is the non-cancelable period of the lease together periods covered by an option to extend the lease when the exercise of the option is reasonably certain. The lease payments are generally discounted using the company\u2019s incremental borrowing rate, as the rate implicit in the lease generally cannot easily be determined. The cost of the right of use assets comprises the initial measurement of the lease liability, any lease payments made before the commencement date an any initial direct cost incurred. Right-of-use assets are depreciated over the shortest of the lease term and useful life. Depreciation of right-of-use assets is presented together with other depreciation in the income statement. Lease payments are allocated between installments and interest based on a constant periodic rate of interest being the interest used to calculate the lease liability. The interest expense is presented as a financial expense in the income statement. The group as lessorThe assets that are leased to customers are recognized as property, plant and equipment in the balance sheet. Direct cost related to the leasing agreement is added to the carrying amount of the leased assets and is depreciated over the lease term. The group has one type of lease agreement. See note 1 for a description of recognition of lease revenue, and note 2 for a split of lease revenue on different product categories. Derivatives The group may use forward exchange contracts to reduce exposure towards USD and EUR. Financial derivates are recognized at fair value through profit and loss. Change in fair value is recognized in profit and loss and is presented as financial income or expense. Unrealized gains or losses are recorded in the same manner as realized gains and losses. Hedge accounting is not applied. Intangible assetsIntangible assets are recognized in the balance sheet if it is probable that the future economic benefits will flow to the company, and the cost of the asset can be measured reliable. Intangible asset with finite economic life ismeasured at cost less accumulated amortization and write-downs. Amortization is done on astraight-line basis over expected lifetime. Theamortization period and method, are reviewed on a yearly basis.Intangible assets with indefinite useful life arenot amortized, but tested for impairment at least annually. Business combinations and goodwillBusiness combinations are accounted for using the acquisition method. Goodwill is recognized as the difference between the aggregate of the consideration transferred and the amount of any non-controlling interest less the fair value of the net identifiable assets at the acquisition date. Goodwill is not depreciated, but is tested forimpairment at least annually. Research and developmentResearch cost is expensed as incurred. Cost to internal development of technology or software is capitalized as an intangible asset when it is demonstrated that -it is technically feasible to complete the asset,-the company has the recourse to complete the project-the product will generate future economic benefits, and-expenditure can be reliably measured.Cost capitalized include materials, salary and social expenses and other expenses that can be allocated to the development of the asset. Internally developed intangible assets are amortized on a straight-line basis over the expected useful life. Amortization starts when the asset is available for use. Intangible assets not ready for use, is tested for impairment on a yearly basis.Capitalized development costs are written down when a new product is ready for sale or an improved product is ready for sale. Internally developed intangible asset is tested for impairment on a regular basis by discounting expected cash flow generated from the asset. If the discounted value is lower than the carrying amount the asset is written down.Own productsCapitalized cost related to development of own products are depreciated on a straight-line basis over expected lifetime. Expected lifetime varies from 3 to 8 years. ProvisionsA provision is recognized when the group has an obligation arising from a past event, when it is probable that company will be required to settle the obligation, and the obligation can be reliable measured. The Group provides warranties for general repairs of defects that existed at the time of sale, as required by law. Provisions related to these assurance-type warranties are recognized when the product is sold or the service is provided to the customer. Initial recognition is based on historical experience. The initial estimate of warranty-related costs is revised annually.Equity and debtFinancial instruments are classified as debt or equity according the economic substance of the financial instrument. Interest, dividend, profit and loss related to a financial instrument are classified as debt, will be presented as an expense or revenue. Amounts distributed to holders of financial instruments classified as equity will be recorded directly against equity.Treasury sharesWhen treasury shares are purchased, the purchase price including directly attributable costs is recognized in equity. Treasury shares are presented as a reduction of equity. Loss or gain on transactions of treasury shares are not recognized in the income statement. Cost related to equity transactionsTransaction costs related to equity transactions are recorded directly against equity in the balance sheet net after tax.Translation differences Translation differences arise in connection with ex-change-rate differences of consolidated foreign en-tities. Translation differences are recognized in other comprehensive income and presented as \u201cother re-serves\u201d in the balance sheet. Translation differences is recognized in profit and loss when the investment is sold.Exchange rate differences on monetary assets and lia-bilities that in substance is part of the net investment in a foreign operation, is also included in translation differences.Revenue recognitionRevenue from contracts with customers is recognized when control of the goods or services are transferred to the customer at an amount that reflects the consideration to which the Group expects to be entitled in exchange for those goods or services. Revenue recognition policies are described in detail in note 1. FOREIGN CURRENCYTransactions in foreign currency Transactions in foreign currency are translated to functional currency using the exchange rate at the date of the transaction. Financial instruments in foreign currency are translated to Norwegian kroner at the closing rate of the balance day. Non-financial items measured at historic cost are translated to Norwegian kroner using the exchange rate at the time of the transaction. Changes in exchange rates are recorded in the profit and loss statement as either financial income or financial expense. Foreign subsidiariesAssets, liabilities and goodwill in foreign subsidiaries that are consolidated are translated to Norwegian kroner at the date of the balance sheet. Revenue and expenses are translated to Norwegian kroner using the monthly average rate.PENSION AND OTHER EMPLOYEE BENEFITSContribution pension planEmployees in Medistim with a pension plan are included in a contribution plan where an agreed percentage of the employee\u2019s salary is paid to the employee pension account. The company\u2019s payment of contributions is expensed in the period it is incurred.Share based paymentsThe Group has a share-based payment scheme for its CEO. The program is settled in shares. The fair value of the share program at the grant date, is expensed over the vesting period. The expense is included in \u201csalary and social expenses\u201d in the income statement and a corresponding amount is recognized as other paid-in capital.Interest bearing loans and borrowings.Loan and borrowings are initially recognized at fair value net of directly attributable transaction costs, and subsequently measuring at amortized cost. TaxThe tax expense in the income statement includes both payable taxes for the period and changes in deferred tax. Deferred tax is calculated based on temporary differences between tax values and carrying amount of assets and liabilities.A deferred tax asset is recognized when it is convincing evidence that the company will have sufficient taxable profit in the future to utilize the tax asset. The companies recognize previously unrecognized deferred tax assets to the extent it has become probable that the company can utilize the deferred tax asset. Similarly, the company will reduce a deferred tax asset to the extent that the company no longer regards it as probable that it can utilize the deferred tax asset.Deferred tax and deferred tax assets are determined using the tax rates that have been enacted or substantively enacted by the reporting date and are expected to apply when the deferred tax asset is settled/recovered. Deferred tax and tax assets are measured at nominal value and is classified as a non-current asset in the balance sheet. Tax payable and deferred tax is recorded against equity if the transaction is an equity transaction.SegmentThe group is organized, for management purpose, in two divisions dependent upon products and services. The segments are identified based upon different risk and return on investment profile. Information regarding segments is presented in note 2.Internal profit between the segments is eliminated .The segment reporting is similar to the internal reports that are given to the decision makers in the company. The decision makers are responsible for allocating resources and assessing profitability within the segments, and are identified as the management team that takes strategic decisions.Contingent liabilities and assetsContingent liabilities are not recognized in the financial statements. Information about significant contingent liabilities is disclosed.Contingent assets are not recognized in thefinancial statements, but are disclosed if an inflow of economic benefits is probable. Events after the balance sheet dateInformation after the reporting period that provide evidence of conditions that existed at the end of the reporting (\u201dadjusting events\u201d), are reflected in the amounts recognized in the financial statement. Information after the reporting period that are indicative of conditions that arose after thereporting period (\u201cnon-adjusting events\u201d) are not reflected in the amounts recognized in the financial statement, but are disclosed if material.Use of estimates and judgementThe preparation of the consolidated financialstatements requires management to make judgments, estimates and assumptions that effect the recognition and measurement of certain assets, liabilities, revenue and expense. The following area involves the most critical estimates and judgments for the company: \u0373 Research and development cost relating tointernally developed technology and software \u0373 Goodwill.Future events could lead to a change in estimates. The estimates and assumptions for the estimates are continuously evaluated. Changes in accounting estimates are recognized in the period the change take place. If the change also affect future periods, the effect on future periods will be recognized as income or expense in those future periods. Of events that has affected future estimates is the COVID 19 pandemic. By-pass surgery is to a large extent elective surgery. When the outbreak of COVID 19 was a fact, several by-pass surgeries where postponed. As a consequence, the activity level within by-pass surgery was reduced compared to normal level. Medistim has over several years had a growth of 7% to 10 % per year, but because of COVID 19 sales in 2020 without growth compared to 2019. The reduced activity level was as expected temporary, and in 2021 activity level increased above normal to reduce the build up of patient queues.While Medistim has been affected by the COVID situation, the company have been able to deliver solid profit and cash flow. The need for Medistim\u2019s products has not changed, and the strong recovery seen through 2022 may indicate that cardiac bypass surgeries are at large back to normal. However, there are still some uncertainties related to new variants of the virus. The expected COVID 19 effects are included in the estimates and none of the balance sheet values was impaired. See also note 12. GoodwillThe group\u2019s goodwill in the balance sheet is yearly tested for impairment. Goodwill occurred with the acquisition of Medi-Stim Norge AS, which was executed with effect from 01.01.02, and the acquisition of Kir-Op AS that was executed with effect from 06.07.06. Total recorded goodwill by year-end 2020 was 14.1 MNOK. Goodwill of MNOK 7.9 was allocated to the Medi-Stim Norge AS acquisition and MNOK 6.2 was allocated at the Kir-Op AS acquisition. Goodwill in both companies is related to employee know-how, experience in the distribution business and cost savings by gathering common functions. Both companies distribute third party products within surgery. During 2006, there was a fusion of the two companies and a otal evaluation for both companies in relation to impairment was done for goodwill thereafter. Both entities are within the same segment. The total value of the business is dependent upon the success of maintaining and increasing the product portfolio. The value from the cash-generating unit exceeded the book value in the balance sheet and the goodwill value for 2021 was not impaired. See also note 12 for the assumptions used in the estimate.Research and developmentDevelopment cost related to technology andsoftware has been recognized as an intangible asset because Medistim can demonstrate technological feasibility for the asset to be available for sale for both existing products and new products. The revenue potential for the projects exceeds the investment. The balance sheet value as of 31.12.2021 was MNOK 16.0. The estimates that form the basis for the intangible asset are performed by the management of the company, and there will always be a level of uncertainty in relation to the assessments that are performed on future revenue for future products. Activated development costs are depreciated over 3 to 8 years. 8 years is used if it is a new product on a new technological platform that creates the basis for a new generation of products. Based upon a platform or new generation of products there will be further developments and improvements. These enhancements of the products are depreciated over 3 years because of rapid technological development. Within 3 years, it is assumed that parts or all of existing technology is updated.New and amended standards not yet effective There are no new standards, interpretations or amendments that are issued, but not yet effective, that are expected to cause any significant changes for Medistim.10.6 Notes to the accountsNote 1 RevenueGroup revenue can be split in three differentcategories that have different risk and returnon investment profile. The split is according tothe company\u2019s internal reporting structure. Thecategories are as follows: 1. Revenue from sale of capital equipment (MiraQ) and consumable (probes) 2. Revenue from lease of equipment (MiraQ andprobes)3. Distribution and sales of third-party productsCategory 1 and 2 covers the same equipment(MiraQ system) and consumables (probes). Theseare the products that are developed and produced by Medistim and distributed through local partners unless Medistim has local representation. 1. Sale of capital equipment and consumable:The sale of the equipment and the sale of theconsumables are considered separate deliveries (performance obligations). Revenue recognitionvaries with shipping and delivery terms thatdecide the timing of when the customer takesover control of the goods. Payment termsvaries from 30 to 90 days. The Group provideswarranties for general repairs of defects thatexisted at the time of sale. This is considered asa separate performance obligation. A warrantyprovision is recognized, see note 21.2. Revenue from lease of equipment and probes:The group has a range of contracts related tolease of equipment and probes and can be splitin two categories:a. Payment per proceduresb. Lease of equipment and sale of probesPayment per procedure:Under this model, the equipment and probesare placed at the customer site free of charge.Medistim owns all equipment placed at thecustomer site. For the customer to be able to usethe equipment a procedure (smart card) must bepurchased. One procedure equals one surgery. The customer purchases a smart card that makes thesystem available for use. The agreement is considered a lease with variable lease payments. Revenue is variable and recognized related to the actual use of the equipment and probes. For Medistim this means that revenue is recognized when a new card is shipped to a customer. There are two types of customers, flow customers and flow and imaging customers. Flow customers purchases a flow procedure, while flow and imaging customers purchase both a flow procedure and an imaging procedure. It is therefore a split of revenue between flow procedures and imaging procedures. Revenue is recognized when smart cards are purchased by the customer. The customer is dependent upon the smart card in order to open the equipment and probe for use. The agreements are operational since equipment is returned when the agreement expires.The individual agreement contains a minimum use clause. The duration of the agreement is 1-3 years, but divided into 12-month cycles, so minimum usage applies for 12 months at a time. If minimum usage is not achieved, Medistim has the right to extract the equipment from the customer site.Lease of systems and sales of probes:Under this model, the customer leases the system and purchases probes when needed. The system revenue is recognized on a straight-line basis over the lease term. Probe revenue is recognized when the probe is delivered to the customer.Other terms in the agreements:If a customer with a pay per procedure or lease agreement does not handle the equipmentproperly, the customer is liable towards Medistim to compensate for the damage and repair. It happens that customers after too low consumption want to keep the equipment. In such cases, the customer may purchase the equipment. In this case, this is registered as a system sale.3. Third party sales: Sale of other third-party medical equipment is recognized when the equipment is delivered to the customer.Payment from customers are mainly due within 30 days. Other income in the P&L includes service, spare parts, grants and other income that is not own products or third party products. See note 1 for split of revenue.Note 2 SegmentsThe Group's activities are divided into strategicbusiness units that are organized and managedseparately. The division is also in accordance withthe Group's internal reporting structure. The mainrd divisions are sale of own products and sale of 3party products. Sale of own products has two businessmodels, the capital model and the lease model. Transactions between internal business unitsare performed at market terms. Revenue, costand result for each segment includes transactionbetween the segments. On group level thesetransactions are eliminated. Own Products category:Medistim has a flexible business model in the USAand leaves it up to the customer whether they want to lease the equipment or purchase the capitalequipment and buy probes as consumable. Mostcustomers in the USA lease the equipment. The lease model in the USA has been successful since it doesnot demand upfront capital to have the equipmentavailable. Medistim has direct representation in theUSA, which makes it manageable to handle the lease model properly. However, several customers preferto invest in the equipment and purchase probes asconsumables and Medistim promotes both solutions. The lease model has not been successful outsideUSA. It is often so that hospitals have a policythat the equipment they use must be hospitalproperty. In addition, Medistim can only follow upthis model properly where the company has directrepresentation, since lease customers requireMedistim property at the customer site. Medistimserves around 60 distributors around the world. Tofollow up assets placed at customer sites in a globalscale, and have distributors to manage Medistimassets, is considered to be to complex and risky. Third party products category:Distribution and sale of third-party products is aseparate segment. The group sells medical devices from third party manufacturers in Norway and Denmark.The product portfolio is carefully selected and mainlyinstruments and consumables within surgery. SPLIT OF REVENUE AND OPERATING PROFIT FOR OPERATING SEGMENTSSegmentOWN PRODUCTS THIRD PARTY PRODUCTS GROUP1 = NOK 1000 2 022 2 021 2 022 2 021 2 022 2 021 RevenueSales in USALease revenue from flow procedures 61 096 50 380 - - 61 096 50 380Lease revenue from imaging procedures 32 693 23 949 - - 32 693 23 949Flow probes 37 066 31 594 - - 37 066 31 594Flow systems 13 248 18 108 - - 13 248 18 108Ultrasound imaging systems 44 984 18 984 - - 44 984 18 984Ultrasound imaging probes 9 000 5 831 - - 9 000 5 831 Other revenue - 5 290 - - 5 290Total revenue USA 198 087 154 135 - - 198 087 154 135Sales outside USAFlow probes 125 908 115 704 - - 125 908 115 704Flow systems 36 567 32 898 - - 36 567 32 898Ultrasound imaging systems 41 651 38 912 - - 41 651 38 912Ultrasound imaging probes 8 216 7 118 - - 8 216 7 118 Third party sales - - 75 833 74 340 75 833 74 340 Other revenue 5 675 4 169 - - 5 675 4 169 Total revenue outside USA 218 016 198 800 75 833 74 340 293 850 273 141Total revenue 416 104 352 936 75 833 74 340 491 937 427 276 Cost of goods sold 66 195 56 194 40 291 40 920 106 485 97 114 Salary and social expenses 131 182 120 893 15 194 13 614 146 376 134 507 Other operating expenses 67 133 50 031 7 405 5 920 74 537 55 950 Depreciation 22 923 23 078 365 349 23 288 23 427 Operating profit per segment 128 671 102 740 12 579 13 537 141 250 116 277 Additional sales information:A geographical sales split is monitored to be able to follow the development in sales in the USA with the greatest potential, Europe where market penetration is strong and Asia with the largest future growth potential. INFORMATION ABOUT GEOGRAPHICAL AREASGeographic split of Rest of the segmentsUSA Europe Asia world Group1 = NOK 1000 2 022 2 021 2 022 2 021 2 022 2 021 2 022 2 021 2 022 2 021 Revenue own 198 087 154 135 124 811 115 849 76 793 66 805 16 412 16 146 416 104 352 936 productsRevenue 3. party - - 75 833 74 340 - - - - 75 833 74 340 productsRevenue in units own productsProcedures flow 69 417 59 397 - - - - - - 69 417 59 397 Procedures imaging 16 613 12 635 - - - - - - 16 613 12 635 Flow probes 3 174 3 080 4 659 4 524 3 101 2 683 846 781 11 780 11 068 Flow systems 14 22 55 54 73 59 7 12 149 147 Ultrasound imaging 32 16 29 27 30 34 10 6 101 83 systems Ultrasound imaging 158 133 55 50 39 46 18 11 270 240 probes Lease of flow 4 9 - - - - - - 4 9 systems Lease of flow and 4 10 - - - - - - 4 10 imaging systems Revenue in units 3. N.A N.A N.A N.A N.A N.A N.A N.A N.A N.Aparty Information about geographical areas Split of revenue between coronary surgery and vascular surgeryThe company has in addition to coronary surgery a strategy and focus towards vascular surgery. The principles for guiding and quality assurance within vascular surgery is the same as within coronary surgery. The difference is that within coronary surgery the surgeons focus is to supply the hart with blood, while within vascular surgery the focus is to ensure blood flow in other parts in the body or organs. The vascular market has gained increased focus from the company in order to ensure that the products from the company gets a foothold within more than just coronary surgery. It is therefore natural to report sales split between cardiac surgery and vascular surgery. SPLIT OF REVENUE BETWEEN CORONARY- AND VASCULAR SURGERY 2 022 2021FOR OWN PRODUCTS AND 3 PARTY PRODUCTS1 = NOK 1000Split of own productsSales within coronary surgery 346 550 293 025 Sales within vascular surgery 69 554 54 619 Other revenue USA - 5 292Sales of 3. party products 75 833 74 340Total sales 491 937 427 276 Major CustomersWhere Medistim has direct representation the customers are hospitals and none of these are dominant in the sense that they represent a major part of the group revenue. Of Medistim's installed base of about 3300 systems, the largest customer has 7 systems. This means that this customer would represent about 0.25 % of total revenue. However, Medistim is also represented through distributors, and the two largest distributors represent 7.5 % and 6 % of the groups revenue respectively. The two largest distributors are independent of each other and operates in different geographical areas. Note 3 Split of Cost of Goods Sold SPLIT OF COST OF GOODS SOLD 2022 20211 = NOK 1000Third party products 42 828 40 215Components 52 746 45 2403.party services 767 1 169Change in stock level 6 059 5 525Packing material and other materials 54 620Freight 4 032 4 345Total cost of goods sold 106 485 97 114Note 4 Salary and social expenses SPLIT OF SALARY EXPENSES 2022 20211 = NOK 1000Salary 108 056 99 262Employeers tax 15 778 13 405Bonus 14 878 14 444Cost for contribution pension plan 5 590 4 905Compensation to the Board 1 558 1 350Other social costs 517 1 141Total salary and social cost 146 376 134 507Full time equivalent employeesUSA 25 23Germany 3 3 UK 1 1 Spain 4 2 Denmark 1 1 Norway 98 86 Total 132 116 AUDIT FEE FOR THE GROUP 2022 20211 = NOK 1000Statutory Audit 1 842 1 685Other services 110 155 Total Audit fee 1 952 1 840 The amounts are without VATNote 5 Pension expenses and obligationsFor Norwegian employees there is a contribution plan that covers 5 % of salary up to 7,1 G and 8 % of salary between 7,1 and 12. 1G is the base amount in the social security system. Employees in the US follows a pension plan, a 401k match that covers 4 % of salary. The total cost for the contribution plans was in 2022 TNOK 5.590, while it was TNOK 4.905 in 2021. It is compulsory by law for the company to have a pension plan for its employees in Norway. The pension plans in the company fulfill the obligation in the Norwegian law. Employees outside Norway and US do not have a pension plan.Note 6 Property, plant and equipment PROPERTY PLANT AND EQUIPMENT2022 2021Other Right-of-Total Other Right-of-Total 1 = NOK 1000EquipmentEquipmentassetsuse assetsassetsassetsuse assetsassetsHistorical costBalance 1. January85 868 25 497 43 688 155 053 79 234 24 517 40 276 144 028Additions7 109 2 647 - 9 756 6 633 1 150 3 412 11 195Disposals- - - - - -170 - -17031.December92 977 28 144 43 688 164 809 85 868 25 497 43 688 155 052Accumulated depreciation and impairmentBalance 1. January 58 821 17 875 19 496 96 191 52 065 14 952 12 328 79 345Depreciation this 7 198 3 054 7 086 17 337 6 724 2 946 7 156 16 826yearDisposals 32 - - 32 Exchange rate -4 36 -1 31 0 23 -12 11differences31. December 66 023 20 892 26 583 113 497 58 821 17 875 19 496 96 191Book value26 954 7 253 17 105 51 312 27 047 7 623 24 192 58 862Depreciation in %14-33 % 20-33 % 12,5-50 % 14-33 % 20-33 % 12,5-50 %Useful life3-7 years 3-5 years 2-8 years 3-7 years 3-5 years 2-8 yearsDepreciation Linear Linear Linear Linear Linear LinearmethodFully depreciated assetsSome assets with total historic cost value of 4.8 MNOK is fully depreciated as of 31.12.2022 but are still in use. Security and right of use assetsEquipment and other assets is pledged as security as of 31.12.2022. The security is related to bank warranties and hedging credit facility. The group\u2019s bank had the same security as of 31.12.2021. See note 7 for right of use assets.Note 7 Right of use assets and lease liabilitiesThe company is renting offices in \u00d8kernveien 94 in Oslo, Bromsveien 17 in Horten and in 14000 25ave. N. Suite108 in Plymouth in Minneapolis, Minnesota, USA. In Oslo and Horten the rental agreement expires in 2025 and2027 respectively. In the USA the rental agreement expire year-end 2023. The rental is adjusted yearly according to National indexes for goods and services. The lease in \u00d8kernveien 94 may be prolonged with 5 years after 2025, the lease in Bromsveien 17 may be prolonged with 2 years after 2027. It is at present uncertain whether these leases will be prolonged. The group also leases office equipment and cars. The longest remaining lease term for office equipment and cars is until November 2024 and August 2025 respectively. Expenses related to short-term leases amounted to 410 TNOK.According to IFRS 16 leased assets are to be recorded in the balance sheet with a corresponding debt and the lease expense recorded as depreciation and interest expense. Medistim's leased assets with right to use andliabilities are shown below.NOTE RIGHT-OF -USE ASSETS AND LEASE LIABILITIES 20221 =NOK 1000Machinery and Right-of-use assetsBuildingsequipment Vehicles Recognition of right to use of asset 1 January 20 782 206 3 204 24 192 Addition of right-of-use assets, CPI adjustments and - - - - other reassessmentAmortisation 5717 80 1289 7 086 Carrying amount of right-of-use assets 31 December 15 065 126 1 915 17 105 Lower of remaining lease term or economic life 4-8 years 2-5 years 1-5 yearsDepreciation method Linear Linear LinearLease liabilitiesUndiscounted lease liabilities and maturity of cash outflowsLess than 1 year 5 773 80 1 315 7 168 1-2 years 5 340 74 742 6 156 3-4 years 2 962 - 167 3 129 4-5 years 2 212 - - 2 212 More than 5 years - - - - Total undiscounted lease liabilities at 31 December 16 287 154 2 224 18 665 Summary of the lease liabilities in the financial Statement of: statementsLease liabilities as of January 1st 24 192 New lease liabilities recognised in the year - Cash payments for the principal portion of the lease Cash flows 7 086 liabilityInterest expense on lease liabilities Profit and loss 226 Total lease liabilities at 31. December 17 105 Current lease liabilities Financial position 7 086 Non-current lease liabilities Financial position 10 020 Total cash outflows for leases Cash flows 7 312 Note 8 Other operating expensesOTHER OPERATING EXPENSES 2022 20211 = NOK 1000Office expenses 1 722 152 Travel cost 10 843 4 955 Marketing 5 910 2 197 Consultants 27 254 25 194 Insurance 2 465 2 229 Freight 2 596 1 906 Communication 1 313 1 039 IT cost 14 463 12 253 Other 7 971 6 028 Total 74 537 55 950 Note 9 Financial revenue and expenses As of 31.12.2022, the company had 17.1 MNOK in interest bearing liabilities. Additional cash in the group gave interest revenue of 920 TNOK. Other finance revenue and expenses was realized or unrealized gains or losses towards foreign currency. Financial revenue and expenses are shown below. See note 20 for comment about financial risks and exposure.FINANCIAL REVENUE AND EXPENSES 2 022 2 021 1 = 1000 NOKInterest income 920 16 Other financial income 1 199 172 Gains on foreign exchange 14 427 7 985 Total financial income 16 546 8 173 Loss on foreign exchange 11 363 9 790Interest cost on loans 123 178Other financial expenses 262 412Total financial expenses 11 748 10 380Total financial income (+) expenses (-) 4 799 -2 207Note 10 Income tax INCOME TAX 2022 20211 = NOK 1000Current income tax charge 32 879 25 594Correction from previous year -450 -Deferred tax expense -352 -2 423Income tax expense reported in income statement 32 077 23 171Reconciling tax expense towards income before taxTax expense for the year 32 077 23 17122% of income before tax 32 131 25 095Change in deferred tax, temporary differences - -2 423 Permanent differences and different tax rates 54 -499Calculation of effective tax rate 2022 2021Expected income tax at tax rate 22 % in Norway 32 131 25 095Permanent and other differences - -2 423Foreign tax rate differences -54 499Income tax expense 32 077 23 171Effective income tax rate 22,0 % 20,3 %Payable tax in the balance sheetIncome tax expense 32 879 25 594Prepaid tax -7 006 -5 267 Total payable tax 25 873 20 327Specification of deferred taxDifference in valuesNon current assets -1 769 317Current assets -14 905 -15 479Other obligations 348 435Total differences -16 326 -14 726Deferred tax asset 22 % -3 592 -3 240Deferred tax asset recognized in the balance sheet -3 592 -3 240The deferred tax asset in the balance sheet is based upon future utilization of deductible temporary differences. There is no time limitation for utilization of the temporary differences. Tax rates in Germany and in the US are different from Norwegian rates. The difference in tax rates reduces average tax rate in 2022 to 21.9%. TAX EXPENSE FOR THE GROUP IS GEOGRAPHICALLY SPLIT AS FOLLOWS: 2022 20211 = NOK 1000 Norway 26 231 17 390Germany 2 354 2 479USA 3 154 2 779Spain - 265Denmark 338 258 Total 32 077 23 171Note 11 Earnings per shareEARNINGS PER SHARE 2022 20211 = NOK 1000Profit for the year 113 973 90 900Weighted average numbers of shares outstanding Weighted average number of shares used in basic EPS 18 248 18 216Effect of share options 29 33 Weighted average numbers of shares used in diluted EPS 18 277 18 249Profit per shareOrdinary 6,25 4,99Diluted 6,24 4,98Paid dividend 54 640 54 640 Dividend per share 3,75 3,00Suggested dividend per share 4,50 3,75The company has only one class of shares. Ordinary earning per share is calculated as the relation between profits for the year that is allocated to ordinary shareholders divided with average number of shares outstanding. Treasure shares are not included and average number of treasury shares are excluded from the calculation. In 2022, there were share options to CEO. The share option plan to CEO is described under 8.12 Remuneration of executive personnel and note 21. By year-end the company had 87 033 own shares.Note 12 Intangible assets Product technology and additions, goodwill and license agreementIn 2022, 11.85 MNOK of product technology additions, was recognized in the balance sheet related to the MiraQ products. The MiraQ platform forms the basis for future models from Medistim. All development activity is performed in the parent company. INTANGIBLE ASSETS 2022Product under Technology and License Total Goodwilldevelopmentdevelopment costagreementintangible1 = NOK 1000Historic cost Historic cost 31 Dec 22 1 334 80 594 14 128 2 158 98 214 Internal additions in use (1 334) 1 334 - - - External additions in use - - - - - Additions under development 11 851 - - - 11 851 Historic cost 31 Dec 22 11 851 81 928 14 128 - 107 907Accumulated depreciation and - 65 887 - 2 158 68 045 write downsDepreciations for the year - 5 952 - - 5 952Total depreciation as of 31 Dec 22 - 71 839 - - 71 839Carrying amount 31 Dec 22 11 851 10 089 14 128 - 36 068INTANGIBLE ASSETS 2021Product under Technology and License Total Goodwilldevelopmentdevelopment costagreementintangible1 = NOK 1000Historic costHistoric cost 31 Dec - 77 844 14 128 2 158 94 131 Internal additions in use - 1 952 - - 1 952 External additions in use - 797 - - 797 Additions under development 1 334 - - - 1 334 Historic cost 31 Dec 1 334 80 594 14 128 2 158 98 214 Accumulated depreciation and write - 59 824 - 1 618 61 442 downsDepreciations for the year - 6 063 - 539 6 602 Total depreciation as of 31 Dec - 65 887 - 2 158 68 044 Net value in balance sheet 1 334 14 707 14 128 - 30 170Intangible assets are depreciated on a straight-line basis over the useful life. Useful life for capitalized product development is 3 to 8 years. Product technologyProbes to vascular surgery \u2013 the PV probeWithin vascular surgery, there is a correspondingneed to measure blood flow in the same manner as within cardiac surgery. Some vascular surgeons are already using Medistim\u2019s equipment despite the fact that the probes are designed for cardiac surgery. The company has seen an increasing demand over time and in 2011, the company developed a speciallydesigned probe for use in the vascular area. The market in vascular surgery is large and it is performed about 900,000 procedures annually. In comparison, about 700,000 procedures are performed per year within cardiac surgery. This is a significant market where Medistim can customize its solution with a modest investment. Book value as of 31.12.2022 was 1.7 MNOK. Expected useful life for the PV probes are 8 years.4th generation of systems; the MiraQEntering into 2022, Medistim had invested 39.2 MNOK in the system platform that representMedistim's 4th generation of systems within flow measurement and imaging to ensure quality and guiding during surgery. The platform has a flexibility that will allow customer adaption and new applications. The technological improvements have secured and strengthen Medistim\u2019s leading position. The product, MiraQ Cardiac, based upon the platform, was launched by the end of 2014. The MiraQ Vascular system was introduced in 2015 together with the new vascular flow probes late 2015. At the same time the MiraQ Ultimate was introduced that combines the two cardiac and vascular modalities. Book value for the MiraQ platform by year-end was 8.3 MNOK. Expected lifetime for the product is 8 years.Additions under development:This is related to the development of new cardiac flow probes. The aim is to modernize design for the user to make it easier to use, but also develop a design that is more efficient to have in production. Medistim has several years of experience with in house production and input from customers on a better design on the probe for the user. With this extensive experience and knowledge it is likely that a new probe will be developed with success. In 2022 3.3 MNOK was invested in the project and book value by year end 2022 was 4.9 MNOK.The next generation of software within both cardiac segment and vascular segment was under development during 2022. The new software has a new user interface and tools to aid the interpretation of the results. Medistim\u2019s Innovation team has together with Key Opinion Leaders tested several prototypes to identify the preferred solution. In 2022 5.1 MNOK was invested in the software project and book value by year end 2022 was 5.1 MNOK.Medistim needs to be compliant with the new Medical Device Regulation (MDR) In 2022 1.9 MNOK was invested in making Medistim MDR compliant.Summary product technologyIn total 13.9 MNOK of the R & D expenses was recorded in the P & L in 2022. Similar expense was 14.5 MNOK in 2021. With 11.85 MNOK recognized as asset a total of 25.75 MNOK was used in R & D in 2022. Comparable number for 2021 was 18.6 MNOK. Medistim received TNOK 376 in Skattefunn funds in 2021 and TNOK 236 in 2022.In the estimates used to test for impairment, the 3-year strategy plan is used with a discount rate of14.6%. See comment under goodwill with regardto discount rate.GoodwillA yearly test of values is done for the cash flow generating units that has a goodwill value in the balance sheet. GOODWILL 2022 20211 = NOK 1000Acquisition of Medi-Stim 7 960 7 960 Norge ASAcquisition of Kir-Op AS (merged with Medistim 6 168 6 168 Norge AS in 2006)Total goodwill 14 128 14 128 A test of values is performed by estimating the cash flow for Medistim Norge AS. This is estimated using the company\u2019s budget for 2023 and 3-year strategy plan for the years 2024 to 2026 with the assumption of 2 % growth in 2026 compared to 2025. Cash flows for more than five years are estimated by using Gordon\u2019s growth formula with a 2 % growth in the terminal year. The cash flow is discounted using 14.6 % discount rate. This includes an additional yield of 9.1 % compared to risk free interest. The value of the discounted cash flow exceeded the recorded book value in the balance sheet and there was no need for a write down of goodwill.The estimates in the tests are most sensitive to changes in the following parameters:\u2022 Maintaining market share and product lines\u2022 Maintaining margins and keep competitive prices\u2022 Level of minimum return on investment\u2022 Future growth\u2022 Employee know-howMaintaining market share and product lines:Within the medical device industry there are major investments done in the development of products. Medistim Norge has certain product lines that have a large portion of total sales. Medistim Norge\u2019s financial situation will be affected if a new product was released in the market that would replace existing key products, and Medistim Norge is not distributor for the new product. The company would also be affected if a supplier changes distributor or chooses to go direct in the Norwegian market. For this reason it is important for the company to maintain know how and performance to secure key product lines. It is equally important that the company is able to see trends and take in new products with a future potential. The largest product line for the company has 20 % of total sales. If this product line is lost together with another line that is 5 \u2013 10 % of total sales, all goodwill needs to be written down.Maintain margins and keep competitive prices:The company is well connected to its suppliers and when the competition increases the suppliers is contributing by lowering their prices. However, it is not realistic to expect that the suppliers will compensate for all of the reduction in prices. The company\u2019s experience is that about 50 % of the price change is covered by the suppliers in an increased competitive situation. A price reduction of 10 % without any compensation from the suppliers is the break even level for write down of goodwill. Rated average capital cost (WACC):The company uses a WACC that is equal to risk free interest with an addition of 9.1 %). This level is evaluated on a yearly basis and a change in the WACC could affect the evaluation of the intangible assets. Risk-free interest rate is based on 10-year government bond that at the beginning of the year was 5.5%. Including risk free interest of 5.5 % the total discount rate in 2022 is set to 14.6%.Future growth:It is projected growth in sales with a variation from 3% to 2% in the budget and strategy period, and with 2% growth in the terminal value. To be able to maintain this increase it is crucial that the company handles existing product lines in an effective manner and that the company is able to identify and get distribution agreements for new product lines that create more business than lost product lines. Employee know-how:Medistim Norge has over the years built a competence within the medical device industry and distribution. It is essential that this know-how is updated and passed on to new employees.Sensitivity analysis:With the assumption used in the impairment test, the recoverable amount exceeds the carrying amount with 80,0 MNOK (\"headroom\"), and no impairment loss is recognized. Operating margin and growth is based upon historic achieved margin and sales growth. In the estimates the budget and the projections from the 3 year strategy update is used. The operating margin in the projections vary between 13.7 and 15.7 %. Sales growth vary between 3% and 2 %If the operating margin is reduced from 15.0% to 3.5% everything else equal, carrying amount would require an evaluation of impairment loss. A change in the discount rate from 14.6 % to 55.0 % everything else equal, would cause an impairment loss. See overview below.HEADROOMWACC 14,6 % 28,0 % 55,0 %Headroom in MNOK 80,0 34,6 11,9 Operating margin 15,0 % 10,0 % 3,5 %Headroom in MNOK 80,0 16,8 -5,3Note 13 Shares in subsidiaries All subsidiaries are 100 % owned and Medistim has all votes. Medistim Norge AS has offices at \u00d8kern in Oslo. Medistim USA Inc has offices in Minneapolis in the USA. Medistim Deutschland GmbH has offices in Munich in Germany, Medistim Denmark has offices in Copenhagen Denmark, Medistim Spain S.L has offices in Madrid and Medistim UK has offices in London UK. None of the subsidiaries are listed at a stock exchange. SHARES IN SUBSIDIARIES1 = NOK 1000Unit Country Segment OwnershipValue 31.12.22Medistim USA Inc. USA Lease and sale within bypass surgery and 100% 135vascular surgeryMedistim Deutschland Germany Capital sales within bypass surgery and 100% 188GmbHvascular surgeryMedistim Norge AS Norway Sale of 3 party products and capital sales 100% 36 953within bypass surgery and vascular surgeryMedistim UK LTD UK Capital sales within bypass surgery and 100% 1vascular surgeryMedistim Japan KK JapanDormant company100% 86Medistim Spain S.LSpainCapital sales within bypass surgery and 100% 28vascular surgeryMedistim Danmark Aps Denmark Sale of 3 party products and capital sales 100% - Owned indirectly within bypass surgery and vascular surgerythrough Medistim Norge AS with book value of TNOK 1 103Note 14 Inventory SPECIFICATION OF INVENTORY 2022 20211 = NOK 1000Raw material 54 263 51 861Work in progress 2 467 2 139Finished goods 42 836 30 711Spare parts 9 694 7 146Third party products 12 001 12 235Inventory provision -6 928 -6 678Total 114 333 97 413Finished goods are measured at cost which includes cost for components and internal labor cost. Work in progress is valued at the total of the component cost and labor cost. The inventory level in 2022 is at a higher level than compared to 2021. It is necessary for the company to keep an additional security inventory for critical components for own developed products. Due to a strict regulatory regime within medical device it takes time to introduce new devices or components. At the same time the tendency is that electronic components life circle is shorter. For this reason inventory level is high to secure future deliveries for Medistim developed products. Inventory is used as security for loan, see note 18.SPECIFICATION OF INVENTORY PROVISION 2022 20211=NOK 1000Gross value Provision Gross value ProvisionDemonstration products 4 763 2 687 6 105 3 074 Spare parts 7 327 4 041 4 170 3 404 Third party products 200 200 200 200 Total 12 290 6 928 10 475 6 678 Note 15 Accounts receivables and other receivablesACCOUNTS RECEIVABLE 2022 20211 = NOK 1000 2022 2021Accounts receivable 102 654 68 993 Provision for bad debt -997 -359 Total 101 657 68 634 POVISION FOR BAD DEBT 2022 20211 = NOK 1000Inbound provision 359 359 Increased provision 638 - Total 997 359 AGING ACCOUNTS RECEIVABLE1 = NOK 1000Not due 0-30 days 31 - 60 days 61 - 90 days TotalYearExpected loss in % 0,00 % 0,00 % 0,00 % 11,34 % 2022Book value of receivables 72 381 9 885 11 597 8 791 102 654 Expected credit loss - - - 997 997 Total 72 381 9 885 11 597 7 794 101 657 1 = NOK 1000Not due 0-30 days 31 - 60 days 61 - 90 days TotalExpected loss in % 0,00% 0,00% 1,00% 7,75%Year Book value of receivables 43 640 16 847 3 862 4 284 68 634 2021Expected credit loss - - 27 331 358 Total 43 640 16 847 3 835 3 953 68 275 All receivables are due within one year. Historically the group losses have been limited. End customers are often public hospitals with government funding and the risks for losses are low. However, days sales outstanding is high compared to other businesses, something that the aging receivables confirm. Receivables is used as security, see note 18. Other receivables are shown in the following table: OTHER RECEIVABLES 2022 20211 = NOK 1000Other pre-payments 4 553 6 076 Accrued income - 4 571Unrealized foreign currency 3 880 -VAT receivable 8 840 - Other (10) 312Total 17 263 10 960 Note 16 CashCASH 2022 20211 = NOK 1000Available cash in bank 144 164 124 866Restricted cash in bank 8 477 4 624Total cash in bank 152 641 129 490Credit limit - 22 500Cash available 144 164 147 366 Restricted cash as of 31.12.2022 was 8 477 TNOK and was related to tax withheld from salaries. As of 31.12.2021 the restricted cash was 4 624 TNOK related to tax withheld on salaries. The holding company terminated the credit facility of 22.5 MNOK in 2022.Note 17 Shareholder information The company had 18.337.336 shares at par value of NOK 0.25 per share and total share capital amount to NOK 4.584.334. There is only one class of shares, and all shares are treated equally. Each share represents one vote.CHANGE IN ISSUED SHARE CAPITAL IN 2022Number of shares Par value per share Share capital in NOKShare capital 01.01.2022 18 337 336 NOK 0.25 NOK 4 548 334.00Changes - - -Share capital 31.12.2022 18 337 336 NOK 0.25 NOK 4 548 334.00The Board of Directors received by the shareholders meeting the 27th of April 2022 permission to purchase up to 1 833 733 Medistim ASA shares at par value NOK 458 433.25. The permission is valid until the next ordinary general assembly in 2023 in the price range of NOK 0.25 to NOK 400 per share. Further the Board of Directors got permission to increase share capital with NOK 458 433.25 or issue 1 833 733 new shares at par value NOK 0.25. The permission can be used if there is a decision to enter into a merger, acquire another company or to create an option program. The permission is valid until the next ordinary shareholders meeting in 2023. See below for changes in the equity for the last year.STATUS FOR THE PERMISSIONS AS OF 31.12.2022Capital increase Medistim sharesPermission given at the shareholders meeting in 2022 1 833 733 1 833 733Permissions used - -Number of shares 31.12.2022 1 833 733 1 833 733The company owned 87 033 Medistim shares as of 31.12.2022. Number of Medistim shares by 01.01.2022 was 108 422.The 20 largest shareholders in the company were as of 31 December 2022: 20 LARGEST SHAREHOLDERSShareholder Number of shares In % of total NationalityAETERNUM CAPITAL AS 1 862 500 10,16 % NorwayFL\u00d8TEMARKEN AS 1 285 000 7,01 % NorwayState Street Bank and Trust Comp 1 238 298 6,75 % United StatesVERDIPAPIRFOND ODIN NORDEN 1 200 000 6,54 % NorwayFOLLUM INVEST AS 970 000 5,29 % NorwayState Street Bank and Trust Comp 925 561 5,05 % United StatesSkandinaviska Enskilda Banken AB 905 805 4,94 % SwedenState Street Bank and Trust Comp 667 953 3,64 % United StatesODIN Small Cap 600 000 3,27 % SwedenSkandinaviska Enskilda Banken AB 526 693 2,87 % DenmarkThe Northern Trust Comp, London Br 433 545 2,36 % United StatesState Street Bank and Trust Comp 422 259 2,30 % United StatesSkandinaviska Enskilda Banken AB 414 011 2,26 % SwedenSKANDINAVISKA ENSKILDA BANKEN AB 396 843 2,16 % LuxembourgBUANES 381 876 2,08 % NorwayRBC Investor services bank S.A. 330 708 1,80 % LuxembourgSkandinaviska Enskilda Banken AB 275 048 1,50 % SwedenThe Bank of New York Mellon SA/NV 270 000 1,47 % DenmarkBNP Paribas 265 000 1,45 % FranceBNP Paribas 243 491 1,33 % FranceTotal 20 largest shareholders 13 614 591 Total number of shares outstanding 18 337 336 20 largest shareholders in % 74,25 %BOARD MEMBERS AND MANAGEMENT TEAM WITH SHARES IN THE COMPANYShareholder Number of shares In % of total PositionTove Raanes via Trane AS 1 990 0,01 % Board memberRoger Morberg 12 849 0,07 % VP salesErik Swensen 10 994 0,06 % VP developmentThomas Jakobsen 25 979 0,14 % CFOKari Eian Krogstad 63 802 0.35 % CEOSiri F\u00fcrst 2 000 0.01 % Board member\u00d8yvin A. Br\u00f8ymer (Fl\u00f8temarken AS) 1 285 000 7.01 % ChairAnne Waaler 2 440 0,01 % VP medical dep.H\u00e5kon Gr\u00f8the (Gr\u00f8ten Invest AS) 4 411 0,02% CIOMike Farbelow 1 990 0,01% President MSUS Ole J\u00f8rgen Robsrud 2 205 0,01% Adm.dir MSNTone Veiteberg 1 990 0,01% VP QA\\RegulatoryH\u00e6ge Wetterhus 663 0,004% VP MarketingLars R\u00f8nn 885 0.005 % Board memberOle Arne Eiksund 2 422 0,01% Chief Bus.Dev. OfficerThere were no share options outstanding as of 31.12.2022 except from the share program to CEO described under 8.12 Remuneration of executive personnel and note 21.Note 18 Long-term liabilitiesLONG-TERM LIABILITIES 2022 2021Carrying Carrying Interest rate Last due dateamountamountSecured loanLease liabilities 3-4 % 30/09/27 17 106 24 192 Deferred revenue 5 126 2 510 Total liabilities22 231 26 702Lease liabilities due within one year -7 086 -7 113Total non current liabilities 15 145 19 589The bank has collateral in property, plant and equipment, accounts receivable and inventory in the holding company and the Norwegian subsidiary. The collateral in property, plant and equipment, accounts receivables and inventory is not limited. Book value of pledged property, plant and equipment was as of 31.12.2022 30.5 MNOK, 80.2 MNOK for accounts receivables and 84.7 MNOK for inventory. The company had no interest bearing debt. The lease agreements are described under note 7.Note 19 Other short term liabilities:OTHER LIABILITIES 2022 20211 = NOK 1000Accrual for public taxes 7 168 8 972 Accrual for holiday pay 8 511 7 140 Accrual for salaries, commission and board member fee 17 070 14 703 Accrual for customer and supplier obligations 6 354 966 Other 2 938 4 828 Total 42 042 36 609Note 20 Financial Risk The group\u2019s financial liabilities are leasing agreements, and accounts payable. The financial liabilities and facilities are important instruments that contribute to the financing of the group\u2019s operational activities. The group\u2019s financial assets are accounts receivables, and cash. From time to time the group also enters into financial derivative contracts to hedge currency exposure. Hedge accounting is not applied. The risk arising from financial instruments is market risk, credit risk towards customers, and liquidity risk.Interest rate risk:The group had as of 31 December 2022 no interest bearing debt. If the group needs a loan it is group policy to have floating interest since this will be the lowest interest rate over time. In general, the group considers the exposure towards changes in interest rates as low. Foreign exchange rates risk:Change in exchange rates involves a direct and indirect financial risk for Medistim ASA. The group has revenue and expenses in EUR and USD where most revenue is in EUR and USD and expenses mostly in NOK. To neutralize net exposure derivative contracts are evaluated. The development in NOK towards USD and EUR is continuously monitored. By the end of 2022, the group had derivative contracts for USD as shown below. Hedging contracts are entered to reduce the exchange risk towards currencies. Unrealized gain or loss related to the contracts are recorded in the balance sheet and the change of value related to the contracts is recorded in the profit and loss. The management and Board of directors evaluate the handling of risks related to exchange rates fluctuations continuously together with its professional advisers.HEDGING CONTRACTSNumber of Total value of Amount per Average rate Rate Unrealized Currencycontracts from contracts in monthon contracts31.12.2022gain/lossMarch 2023currencyUSD 6 200 000 1 200 000 10,50 9,86 775 800The group had a credit facility of 6.0 MNOK to enter hedging contracts. The facility represents 10 % of the value of the contracts the group can use and the Group can enter hedging contracts for a total of 60 MNOK. Security related to the facility is related to assets, accounts receivable and inventory with no limit. Book value of secured items was as of 31.12.2022 30.5 MNOK for assets, 80.2 MNOK for accounts receivables and 84.7 MNOK for inventoryFINANCIAL ASSETS AND LIABILITIES1 = NOK 10002022 2021Original value Gain\\loss Book value Original value Gain\\loss Book valueFinancial assetsCash in USD 1 373 1 236 2 609 9 985 709 10 694Cash in EUR 9 511 -129 9 382 13 026 82 13 108Accounts receivable in EUR 44 881 530 45 411 28 364 -541 27 823Forward curency contracts - 775 775 - - - Financial debtAccounts payable in EUR 2 670 1 2 669 2 855 17 2 838Accounts payable in USD 332 3 335 207 -3 204EFFECT ON PROFIT IF CURRENCY CHANGES WITH 5%1 = NOK 1000 2022 2021Original value Gain\\loss Book value Original value Gain\\loss Book valueTotal exposure towards EUR 51 722 400 52 124 38 535 -476 38 093Total exposure towards USD 1 041 2 008 3 049 9 778 712 10 4905 % increase EUR 2 606 1 9055 % increase USD 152 5255 % decrease EUR -2 482 -1 8145 % decrease USD -145 -500Credit and liquidity risk:Other financial risk as credit risk and liquidity risk is viewed by the group as low based upon the group\u2019sfinancial position as of 31 December 2022.Credit risk:The group is at some extent exposed towards credit risk. The general risk is low since the majority ofcustomers are financed by public authorities. Still history records for payments, the size of the transaction and the other party\u2019s credit risk is evaluated from case to case. The level of credit given is evaluatedwhen there is a change in market conditions. The level of risk is reduced by using bank guaranties andprepayments in cases where the level of risk is found to be higher than normally accepted. See note 15 for a table showing the aging of accounts receivable. Liquidity risk:Liquidity risk is the risk that the group is not able to meet its obligations in time. Managing liquidity risk is therefore prioritized to secure financial flexibility. Medistim main source of cash is cash generated fromoperations. The group has over the last 5 years experienced an increase in profit and available cash.Therefore, the group has been able to build up a cash reserve due to strong profits to handle the increased need for working capital as the group grows. The liquidity buffer also secures cash in situations where the incoming cash is delayed. COVID 19 pandemic and macroeconomic turmoilSince the pandemic started to affect the Medistim business in second quarter of 2020, the effect hasbecome gradually smaller, and in the second quarter of 2021, there was a strong rebound in proceduresperformed and hence in the sales revenues. This rebound has continued throughout 2021. While Medistim has been affected by the COVID situation, the company have been able to deliver solid profit and cash flow. The need for Medistim\u2019s products has not changed, and the strong recovery seen through 2021 and thegrowth that continues in 2022, may indicate that cardiac bypass surgeries are back to normal. However,there are still some uncertainties related to new variants of the virus.The global market is facing macro-economic turmoil, with energy crisis, inflation pressure, increasinginterest rates and cost levels and uncertainty related to the Ukrainian war. The long-term consequencesof the pandemic aftermath and growing geopolitical uncertainty are unclear but might lead to continuing challenges in the global flow of goods. Medistim is taking mitigating actions to ensure access to keycomponents to secure production and maintain growth and profitability also for the future. Further, thecompany is financially solid to face future challenges, with no interest bearing debt and an equity ratio of 76.6 %.With these uncertainties the need for Medistim\u2019s products has been confirmed through the last two years growth development. Despite the pandemic, macroeconomic turmoil and the Ukrainian war, the companies solutions continue to have an increasing demand among cardiac and vascular surgeons.The table below sets out the maturity profile of the financial liabilities based on contractual undiscounted payments.OVERVIEW OF DEBT1 = NOK 1000Year 2022Within 3 months Between 3-12 months 1 to 5 years Over 5 years TotalLease liabilities 1 410 4 230 11 787 17 427 Accounts payable 24 470 - - - 24 470Deferred revenue 338 1 015 3 773 5 126 Income tax - 25 873 25 873 Other debt (see note 19 & 22) 42 072 - - - 42 071 Total 68 290 31 118 15 560 - 114 967Year 2021Within 3 months Between 3-12 months 1 to 5 years Over 5 years TotalInterest bearing loans - - - - - Lease liabilities 1 778 5 335 11 738 5 341 24 192 Accounts payable 13 205 - - - 13 205 Deferred revenue 2 510 2 510 Income tax 20 327 20 327 Other debt (see note 18,19,22) 33 815 3 143 - - 36 958 Total 48 799 28 804 14 248 5 341 97 192 Financial strategy:Management strives to strengthen the group\u2019s healthy financial position through profit and a high levelof equity. This will secure continued growth and will maximize shareholders values. The group will adjustcapital structure to adapt to changes in the financial climate. Capital structure can be adjusted throughdividend, repayment of share capital or issue new shares. There were no changes in the financial strategy in the group in 2021 or 2022.Note 21 Related party transactionsCompensation to managementThe management group consists of 13 people including CEO. The managing directors in the subsidiaries are included in the management group. COMPENSATION AND BENEFITS TO THE MANAGEMENT GROUP IN 2022Share based Management Position Salary Bonus Pensioncompensation Other TotalH\u00e6ge Johanne VP Marketing 1 529 890 198 839 97 464 - 7 909 1 834 102Krogh WetterhusAnne Waaler VP Medical 1 525 816 178 571 80 424 - 10 723 1 795 534Roger Reino VP Sales 1 821 454 383 929 94 584 137 750 9 783 2 447 500 MorbergErik Swensen VP Development 1 526 290 162 500 90 864 - 4 524 1 784 178Tone Ann VP QA\\Reg 1 323 097 196 429 72 708 - 4 524 1 596 758VeitebergOle J\u00f8rgen CEO Medistim 1 435 094 240 000 91 800 50 000 8 863 1 825 757 RobsrudNorge ASHelge B\u00f8rslid VP Operations 1 417 244 73 661 84 600 - 4 524 1 580 029Ole Arne Eiksund Chief Bus.Dev. 902 297 58 208 137 750 1 101 183 OfficerH\u00e5kon Gr\u00f8the VP Innovation 1 427 634 205 357 84 900 137 750 4 530 1 860 171 Mike Farbelow President 2 233 316 800 311 89 333 - 108 583 3 231 543Medistim USACindy Kaffai CEO Medistim 1 358 834 296 778 - - 1 655 612 GermanyKari Eian CEO Medistim 3 144 358 1 205 357 101 592 4 410 000 4 527 8 865 834 KrogstadgroupThomas CFO Medistim 2 050 394 312 500 91 800 183 750 4 530 2 642 974 JakobsenGroupTotal 21 695 717 4 254 233 1 038 277 5 057 000 179 186 32 224 412There are no severance pay agreements towards any in the management team in case of leaving the company. All members of the management group have a two-way arrangement of 3 months\u2019 notice. The exception ismanagement in the US that has no notice period. The management group has the same pension plan as other employees. For Norwegian members of the management group, this is a contribution plan that covers 5 % of salary up to 7.1 G and 8 % of salary for G between 7.1 and 12. 1G equals NOK 111.477. Management in the US has a contribution plan that covers 4 % of salary. The board decides incentives to CEO. Bonus and incentives to the management group is decided by the CEO. Bonus and incentives for both management group and CEO is based on achieved results. The table shows the bonus paid in 2022. Some members of the management group has loan from the company related to the share program offered to the Management team in 2022. The below table shows who in the management teampurchased shares at a discount and has loan form the company.SHARE PROGRAM FOR THE MANAGEMENT GROUP IN 2022Financing Shares Match Total by Group purchased 25% in purchase of Number Medistim Management Positionin NOKNOKshares in NOKof sharesin NOKOle Arne Eiksund Chief Bus.Dev. 551 000 137 750 688 750 2 422 551 000 OfficerRoger Reino VP Sales 551 000 137 750 688 750 2 422 - MorbergOle J\u00f8rgen CEO Medistim 200 000 50 000 250 000 879 200 000 RobsrudNorge ASH\u00e5kon Gr\u00f8the VP Innovation 551 000 137 750 688 750 2 422 - Thomas Jakobsen CFO Medistim 735 000 183 750 918 750 3 231 735 000 GroupTotal 2 588 000 647 000 3 235 000 11 376 1 486 000 For every fourth share purchased one share was given for free with a vesting period of 3 years. The loans are at tax free rate and are due for payment when the vesting period is over. The agreements was entered the 25th of June 2022.Compensation to the board was 1 450 TNOK in 2022 and 1 300 TNOK in 2021. The Chair received 450 TNOK as compensation in 2022 and 400 TNOK in 2021 The four board members received a total 250 TNOK each as compensation in 2022, a total of 1000 TNOK. In 2021 they received 225 TNOK each, a total of 900 TNOK. The nomination committee leader received a compensation of 20 TNOK, while the two other members received 15 TNOK each. In total, the nomination committee received 50 TNOK as compensation.Compensation to Audit committee and renumeration committee was 50 TNOK and 35 TNOK respectively.CEO has an agreement with the Board that she can receive up to 28.500 Medistim shares as part of compensation if in position until 2025. The Shares is received by the CEO free of charge and last shares will be received in 2026. Fair value of the share based payment is the share price at grant date multiplied with the and number of shares granted. The fair value of the share based payment is expensed over the vesting period. In 2022, TNOK 2 475 including social security tax was expensed in the accounts related to the arrangement. See also overview below.SHARE PROGRAM CEOYear 2022 2023 2024Opening balanceExercisedShares granted 12 000 9 000 7 500 Ending balance 12 000 21 000 28 500 Share price at the time of grant in NOK 167 254 296 Total expense in NOK 2 004 000 2 286 000 2 220 000 Expense per grant per year in NOK 668 000 762 000 740 000 Annual expense in NOK for the grant in 2022 2 170 000 Transactions with related partiesThere were no other transactions towards related parties in 2021 or in 2022.Note 22 Provisions PROVISIONS 2022 20211 = NOK 1000Warranty provision 350 350Sum 350 350Note 23 Exchange rates foreign currency EXCHANGE RATES FOREIGN CURRENCYCurrency Rate 01.01.2022 Average rate Rate 31.12.2022USD 8.8194 9.6245 9.8573DKK 134.32 135.81 141.38EUR 9.9888 10.1040 9.9888GBP 11.8875 11.8176 10.5138Note 24 Changes in liabilities arising from financial activitiesCHANGES IN LIABILITIES ARISING FROM FINANCIAL ACTIVITIESDeferred revenue Total Interest and interest Lease Lease bearing short bearing long term agreements agreements 20221 = NOK 1000term debtdebtshort termlong termAt 1st of January 2022 - 2 510 7 114 17 078 26 701Cash flows lease agreements - - -7 312 - -7 312Debt becomming current in 2022 - - 7 284 -7 058 226Effects of foreign exchange - - - - -Deferred revenue - 2 616 - - 2 616 31.December 2022- 5 126 7 086 10 020 22 232Deferred revenue Interest and interest Lease Lease Total bearing short bearing long term agreements agreements 20211 = NOK 1000term debtdebtshort termlong termAt 1st of January 20213 000 7 845 6 881 21 651 39 377Debt forgiveness - -5 348 - - -5 348New lease agreements - - - 3 412 3 412Interest bearing debt -3 000 -1 500 - - -4 500Cash flows lease agreements - - -7 502 - -7 155Debt becoming current in 2021 - 0 7 754 -7 985 -578Effects of foreign exchange - - -19 - -19Deferred revenue - 1 513 - - 1 513 31.December 20210 2 510 7 114 17 078 26 701Note 25 Events after 2022 The Board of directors has no knowledge about events after 2022 that will affect the annual report and financial statement for 2022. ",
"dimensions": {
"concept": "ifrs-full:DisclosureOfNotesAndOtherExplanatoryInformationExplanatory",
"language": "en",
"entity": "scheme:5967007LIEEXZXJOX483",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"s9_notes__6__16": {
"value": "Medistim ASA is a public company listed at the Oslo stock exchange. Medistim ASA is incorporated in Norway. The main office is located in \u00d8kernveien 94, 0579 Oslo, Norway. The Medistim group\u2019sbusiness is within developing, producing, service, leasing and distribution of medical devices. The board of Directors and the CEO authorized these financial statements for issue on March 23, 2023.",
"dimensions": {
"concept": "ifrs-full:DisclosureOfAuthorisationOfFinancialStatementsExplanatory",
"language": "en",
"entity": "scheme:5967007LIEEXZXJOX483",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"s9_notes__6__15": {
"value": "Medistim ASA is a public company listed at the Oslo stock exchange. Medistim ASA is incorporated in Norway. The main office is located in \u00d8kernveien 94, 0579 Oslo, Norway. The Medistim group\u2019sbusiness is within developing, producing, service, leasing and distribution of medical devices. The board of Directors and the CEO authorized these financial statements for issue on March 23, 2023.",
"dimensions": {
"concept": "ifrs-full:DisclosureOfGeneralInformationAboutFinancialStatementsExplanatory",
"language": "en",
"entity": "scheme:5967007LIEEXZXJOX483",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"s9_notes__6__14": {
"value": "Medistim ASA",
"dimensions": {
"concept": "ifrs-full:NameOfUltimateParentOfGroup",
"language": "en",
"entity": "scheme:5967007LIEEXZXJOX483",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"s9_notes__6__13": {
"value": "Medistim ASA",
"dimensions": {
"concept": "ifrs-full:NameOfParentEntity",
"language": "en",
"entity": "scheme:5967007LIEEXZXJOX483",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"s9_notes__6__6": {
"value": "Medistim ASA",
"dimensions": {
"concept": "ifrs-full:NameOfReportingEntityOrOtherMeansOfIdentification",
"language": "en",
"entity": "scheme:5967007LIEEXZXJOX483",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"s9_notes__6__7": {
"value": "public company listed",
"dimensions": {
"concept": "ifrs-full:LegalFormOfEntity",
"language": "en",
"entity": "scheme:5967007LIEEXZXJOX483",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"s9_notes__6__8": {
"value": "Oslo",
"dimensions": {
"concept": "ifrs-full:DomicileOfEntity",
"language": "en",
"entity": "scheme:5967007LIEEXZXJOX483",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"s9_notes__6__11": {
"value": "Norway",
"dimensions": {
"concept": "ifrs-full:PrincipalPlaceOfBusiness",
"language": "en",
"entity": "scheme:5967007LIEEXZXJOX483",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"s9_notes__6__9": {
"value": "Norway",
"dimensions": {
"concept": "ifrs-full:CountryOfIncorporation",
"language": "en",
"entity": "scheme:5967007LIEEXZXJOX483",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"s9_notes__6__10": {
"value": "\u00d8kernveien 94, 0579 Oslo",
"dimensions": {
"concept": "ifrs-full:AddressOfRegisteredOfficeOfEntity",
"language": "en",
"entity": "scheme:5967007LIEEXZXJOX483",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"s9_notes__6__12": {
"value": "The Medistim group\u2019sbusiness is within developing, producing, service, leasing and distribution of medical devices",
"dimensions": {
"concept": "ifrs-full:DescriptionOfNatureOfEntitysOperationsAndPrincipalActivities",
"language": "en",
"entity": "scheme:5967007LIEEXZXJOX483",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"s9_notes__6__19": {
"value": "Basis for preparation of financial statementsThe financial statement for the group is prepared in accordance with International Financial Reporting standard (IFRS) as adopted by the EU and effective as of 31.12.2022.The annual accounts for the group and the group has been prepared based on historical cost with exception of financial derivatives which are measured at fair value. The consolidated accounts have been prepared using consistent accounting policies for similar transactions and events.The accounting principles for the group for 2022 are the same as for the principles used in 2021. New standards from 2022 have not had any significant effects compared to 2021 standards.",
"dimensions": {
"concept": "ifrs-full:DisclosureOfBasisOfPreparationOfFinancialStatementsExplanatory",
"language": "en",
"entity": "scheme:5967007LIEEXZXJOX483",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"s9_notes__6__20": {
"value": "Functional currency and the presentation currencyThe group presents its financial statements in NOK. This is also the functional currency for the parent company. Asset and liabilities of subsidiaries with other functional currency than NOK, are translated to NOK using the exchange rate at the balance sheet date. For the income statement, the average monthly rate in the period is used. Translation differences arising from translation to presentation currency, is recognized in other comprehensive income.",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForFunctionalCurrencyExplanatory",
"language": "en",
"entity": "scheme:5967007LIEEXZXJOX483",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"s9_notes__6__21": {
"value": "Principles for consolidationThe consolidated accounts include Medistim ASA and companies controlled by Medistim ASA. Control normally exists when the Group has more than 50 % of the shares in the investee. Currently all subsidiaries are wholly owned. Intercompany transactions, balances and unrealized gains and losses are eliminated.",
"dimensions": {
"concept": "ifrs-full:DisclosureOfBasisOfConsolidationExplanatory",
"language": "en",
"entity": "scheme:5967007LIEEXZXJOX483",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"s9_notes__6__22": {
"value": "Cash and cash EquivalentsCash includes cash in hand and bank deposits.Cash equivalents are short-term, highly liquid investments that are readily convertible to cash and which are subject to an insignificant risk of changes in value. Classified as financial asset.",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyToDetermineComponentsOfCashAndCashEquivalents",
"language": "en",
"entity": "scheme:5967007LIEEXZXJOX483",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"s9_notes__6__23": {
"value": "Accounts receivableAccounts receivable that do not contain asignificant financing component, are recognized at the transaction price with a deduction for expected credit losses. Classified as financial asset.",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForTradeAndOtherReceivablesExplanatory",
"language": "en",
"entity": "scheme:5967007LIEEXZXJOX483",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"s9_notes__6__24": {
"value": "InventoryInventory is valued at the lower of cost, using the FIFO principle, and net realizable value. Production cost includes the cost for components, cost ofconversion (including direct labor cost) and other cost in bringing the inventories to their present location and condition. Net realizable value is the estimated sales price in the ordinary course ofbusiness less cost of completion and selling cost.",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForMeasuringInventories",
"language": "en",
"entity": "scheme:5967007LIEEXZXJOX483",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"s9_notes__6__25": {
"value": "Property, plant and equipment Property, plant and equipment is recorded at cost less accumulated depreciations and write-downs. When an asset is sold, the carrying value of the asset is derecognized and any gain or loss from the sale is recognized in the income statement.The cost of an acquired item of property, plant and equipment comprises of the purchase price, non-refundable taxes and other direct cost incurred in order to be able to use the asset as intended. The cost for a self-constructed item of property, plant or equipment is the same as the cost ofconstruction the asset for sale. Cost includematerials, labor costs and an allocation ofproduction overheads. The cost allocated to the asset is based upon the time spent to build the asset. Costs incurred for major replacements andupdates are added to cost if it is probable that the cost will bring future economic benefit and the cost can be reliably measured. If new parts are capitalized, replace parts are derecognized. Repair and maintenance costs are expensed as incurred. Items of property, plant and equipment aredepreciated straight line over the estimated useful life from the time it is available for use. Useful life is as follows:\u2022 Machinery and equipment 3-7 years\u2022 Other assets 3-5 yearsDepreciation time and method is evaluated on a yearly basis.Property, plant and equipment are tested forimpairment if there are indication of impairment. If the carrying amount exceeds the assets recoverable amount, being the higher of value in use and fair value less cost of disposal, the asset is written down to the recoverable amount.",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForPropertyPlantAndEquipmentExplanatory",
"language": "en",
"entity": "scheme:5967007LIEEXZXJOX483",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"s9_notes__6__26": {
"value": "Leasing The group as a lesseeThe company recognizes a lease liability and a right-of-use asset for leases with a duration of more than 12 months, provided that the underlying asset is not of low value. The lease liability is the present value of the lease payment over the lease term. Lease payment includes fixed payments and variable leasepayments that depend on an index or a rate. The lease term is the non-cancelable period of the lease together periods covered by an option to extend the lease when the exercise of the option is reasonably certain. The lease payments are generally discounted using the company\u2019s incremental borrowing rate, as the rate implicit in the lease generally cannot easily be determined. The cost of the right of use assets comprises the initial measurement of the lease liability, any lease payments made before the commencement date an any initial direct cost incurred. Right-of-use assets are depreciated over the shortest of the lease term and useful life. Depreciation of right-of-use assets is presented together with other depreciation in the income statement. Lease payments are allocated between installments and interest based on a constant periodic rate of interest being the interest used to calculate the lease liability. The interest expense is presented as a financial expense in the income statement. The group as lessorThe assets that are leased to customers are recognized as property, plant and equipment in the balance sheet. Direct cost related to the leasing agreement is added to the carrying amount of the leased assets and is depreciated over the lease term. The group has one type of lease agreement. See note 1 for a description of recognition of lease revenue, and note 2 for a split of lease revenue on different product categories.",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForLeasesExplanatory",
"language": "en",
"entity": "scheme:5967007LIEEXZXJOX483",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"s9_notes__6__27": {
"value": "Derivatives The group may use forward exchange contracts to reduce exposure towards USD and EUR. Financial derivates are recognized at fair value through profit and loss. Change in fair value is recognized in profit and loss and is presented as financial income or expense. Unrealized gains or losses are recorded in the same manner as realized gains and losses. Hedge accounting is not applied.",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForDerivativeFinancialInstrumentsExplanatory",
"language": "en",
"entity": "scheme:5967007LIEEXZXJOX483",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"s9_notes__6__28-1": {
"value": "Intangible assetsIntangible assets are recognized in the balance sheet if it is probable that the future economic benefits will flow to the company, and the cost of the asset can be measured reliable. Intangible asset with finite economic life ismeasured at cost less accumulated amortization and write-downs. Amortization is done on astraight-line basis over expected lifetime. Theamortization period and method, are reviewed on a yearly basis.Intangible assets with indefinite useful life arenot amortized, but tested for impairment at least annually.Own productsCapitalized cost related to development of own products are depreciated on a straight-line basis over expected lifetime. Expected lifetime varies from 3 to 8 years.",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForIntangibleAssetsOtherThanGoodwillExplanatory",
"language": "en",
"entity": "scheme:5967007LIEEXZXJOX483",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"s9_notes__6__29": {
"value": "Business combinations and goodwillBusiness combinations are accounted for using the acquisition method. Goodwill is recognized as the difference between the aggregate of the consideration transferred and the amount of any non-controlling interest less the fair value of the net identifiable assets at the acquisition date. Goodwill is not depreciated, but is tested forimpairment at least annually.",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForBusinessCombinationsAndGoodwillExplanatory",
"language": "en",
"entity": "scheme:5967007LIEEXZXJOX483",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"s9_notes__6__30-1": {
"value": "Research and developmentResearch cost is expensed as incurred. Cost to internal development of technology or software is capitalized as an intangible asset when it is demonstrated that -it is technically feasible to complete the asset,-the company has the recourse to complete the project-the product will generate future economic benefits, and-expenditure can be reliably measured.Cost capitalized include materials, salary and social expenses and other expenses that can be allocated to the development of the asset. Internally developed intangible assets are amortized on a straight-line basis over the expected useful life. Amortization starts when the asset is available for use. Intangible assets not ready for use, is tested for impairment on a yearly basis.Capitalized development costs are written down when a new product is ready for sale or an improved product is ready for sale. Internally developed intangible asset is tested for impairment on a regular basis by discounting expected cash flow generated from the asset. If the discounted value is lower than the carrying amount the asset is written down.Research and developmentDevelopment cost related to technology andsoftware has been recognized as an intangible asset because Medistim can demonstrate technological feasibility for the asset to be available for sale for both existing products and new products. The revenue potential for the projects exceeds the investment. The balance sheet value as of 31.12.2021 was MNOK 16.0. The estimates that form the basis for the intangible asset are performed by the management of the company, and there will always be a level of uncertainty in relation to the assessments that are performed on future revenue for future products. Activated development costs are depreciated over 3 to 8 years. 8 years is used if it is a new product on a new technological platform that creates the basis for a new generation of products. Based upon a platform or new generation of products there will be further developments and improvements. These enhancements of the products are depreciated over 3 years because of rapid technological development. Within 3 years, it is assumed that parts or all of existing technology is updated.",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForResearchAndDevelopmentExpenseExplanatory",
"language": "en",
"entity": "scheme:5967007LIEEXZXJOX483",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"s9_notes__6__31": {
"value": "Own productsCapitalized cost related to development of own products are depreciated on a straight-line basis over expected lifetime. Expected lifetime varies from 3 to 8 years.",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForDepreciationExpenseExplanatory",
"language": "en",
"entity": "scheme:5967007LIEEXZXJOX483",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"s9_notes__6__33": {
"value": "ProvisionsA provision is recognized when the group has an obligation arising from a past event, when it is probable that company will be required to settle the obligation, and the obligation can be reliable measured. The Group provides warranties for general repairs of defects that existed at the time of sale, as required by law. Provisions related to these assurance-type warranties are recognized when the product is sold or the service is provided to the customer. Initial recognition is based on historical experience. The initial estimate of warranty-related costs is revised annually.",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForProvisionsExplanatory",
"language": "en",
"entity": "scheme:5967007LIEEXZXJOX483",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"s9_notes__6__34": {
"value": "Equity and debtFinancial instruments are classified as debt or equity according the economic substance of the financial instrument. Interest, dividend, profit and loss related to a financial instrument are classified as debt, will be presented as an expense or revenue. Amounts distributed to holders of financial instruments classified as equity will be recorded directly against equity.",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForFinancialInstrumentsExplanatory",
"language": "en",
"entity": "scheme:5967007LIEEXZXJOX483",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"s9_notes__6__35": {
"value": "Treasury sharesWhen treasury shares are purchased, the purchase price including directly attributable costs is recognized in equity. Treasury shares are presented as a reduction of equity. Loss or gain on transactions of treasury shares are not recognized in the income statement.",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForTreasurySharesExplanatory",
"language": "en",
"entity": "scheme:5967007LIEEXZXJOX483",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"s9_notes__6__36": {
"value": "Cost related to equity transactionsTransaction costs related to equity transactions are recorded directly against equity in the balance sheet net after tax.",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForTransactionsWithRelatedPartiesExplanatory",
"language": "en",
"entity": "scheme:5967007LIEEXZXJOX483",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"s9_notes__6__37-1": {
"value": "Translation differences Translation differences arise in connection with ex-change-rate differences of consolidated foreign en-tities. Translation differences are recognized in other comprehensive income and presented as \u201cother re-serves\u201d in the balance sheet. Translation differences is recognized in profit and loss when the investment is sold.Exchange rate differences on monetary assets and lia-bilities that in substance is part of the net investment in a foreign operation, is also included in translation differences.FOREIGN CURRENCYTransactions in foreign currency Transactions in foreign currency are translated to functional currency using the exchange rate at the date of the transaction. Financial instruments in foreign currency are translated to Norwegian kroner at the closing rate of the balance day. Non-financial items measured at historic cost are translated to Norwegian kroner using the exchange rate at the time of the transaction. Changes in exchange rates are recorded in the profit and loss statement as either financial income or financial expense. Foreign subsidiariesAssets, liabilities and goodwill in foreign subsidiaries that are consolidated are translated to Norwegian kroner at the date of the balance sheet. Revenue and expenses are translated to Norwegian kroner using the monthly average rate.",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForForeignCurrencyTranslationExplanatory",
"language": "en",
"entity": "scheme:5967007LIEEXZXJOX483",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"s9_notes__6__38-1": {
"value": "Revenue recognitionRevenue from contracts with customers is recognized when control of the goods or services are transferred to the customer at an amount that reflects the consideration to which the Group expects to be entitled in exchange for those goods or services. Revenue recognition policies are described in detail in note 1. Note 1 RevenueGroup revenue can be split in three differentcategories that have different risk and returnon investment profile. The split is according tothe company\u2019s internal reporting structure. Thecategories are as follows: 1. Revenue from sale of capital equipment (MiraQ) and consumable (probes) 2. Revenue from lease of equipment (MiraQ andprobes)3. Distribution and sales of third-party productsCategory 1 and 2 covers the same equipment(MiraQ system) and consumables (probes). Theseare the products that are developed and produced by Medistim and distributed through local partners unless Medistim has local representation. 1. Sale of capital equipment and consumable:The sale of the equipment and the sale of theconsumables are considered separate deliveries (performance obligations). Revenue recognitionvaries with shipping and delivery terms thatdecide the timing of when the customer takesover control of the goods. Payment termsvaries from 30 to 90 days. The Group provideswarranties for general repairs of defects thatexisted at the time of sale. This is considered asa separate performance obligation. A warrantyprovision is recognized, see note 21.2. Revenue from lease of equipment and probes:The group has a range of contracts related tolease of equipment and probes and can be splitin two categories:a. Payment per proceduresb. Lease of equipment and sale of probesPayment per procedure:Under this model, the equipment and probesare placed at the customer site free of charge.Medistim owns all equipment placed at thecustomer site. For the customer to be able to usethe equipment a procedure (smart card) must bepurchased. One procedure equals one surgery. The customer purchases a smart card that makes thesystem available for use. The agreement is considered a lease with variable lease payments. Revenue is variable and recognized related to the actual use of the equipment and probes. For Medistim this means that revenue is recognized when a new card is shipped to a customer. There are two types of customers, flow customers and flow and imaging customers. Flow customers purchases a flow procedure, while flow and imaging customers purchase both a flow procedure and an imaging procedure. It is therefore a split of revenue between flow procedures and imaging procedures. Revenue is recognized when smart cards are purchased by the customer. The customer is dependent upon the smart card in order to open the equipment and probe for use. The agreements are operational since equipment is returned when the agreement expires.The individual agreement contains a minimum use clause. The duration of the agreement is 1-3 years, but divided into 12-month cycles, so minimum usage applies for 12 months at a time. If minimum usage is not achieved, Medistim has the right to extract the equipment from the customer site.Lease of systems and sales of probes:Under this model, the customer leases the system and purchases probes when needed. The system revenue is recognized on a straight-line basis over the lease term. Probe revenue is recognized when the probe is delivered to the customer.Other terms in the agreements:If a customer with a pay per procedure or lease agreement does not handle the equipmentproperly, the customer is liable towards Medistim to compensate for the damage and repair. It happens that customers after too low consumption want to keep the equipment. In such cases, the customer may purchase the equipment. In this case, this is registered as a system sale.3. Third party sales: Sale of other third-party medical equipment is recognized when the equipment is delivered to the customer.Payment from customers are mainly due within 30 days. Other income in the P&L includes service, spare parts, grants and other income that is not own products or third party products. See note 1 for split of revenue.",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForRecognitionOfRevenue",
"language": "en",
"entity": "scheme:5967007LIEEXZXJOX483",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"s9_notes__6__40": {
"value": "FOREIGN CURRENCYTransactions in foreign currency Transactions in foreign currency are translated to functional currency using the exchange rate at the date of the transaction. Financial instruments in foreign currency are translated to Norwegian kroner at the closing rate of the balance day. Non-financial items measured at historic cost are translated to Norwegian kroner using the exchange rate at the time of the transaction. Changes in exchange rates are recorded in the profit and loss statement as either financial income or financial expense. Foreign subsidiariesAssets, liabilities and goodwill in foreign subsidiaries that are consolidated are translated to Norwegian kroner at the date of the balance sheet. Revenue and expenses are translated to Norwegian kroner using the monthly average rate.",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForSubsidiariesExplanatory",
"language": "en",
"entity": "scheme:5967007LIEEXZXJOX483",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"s9_notes__6__42": {
"value": "PENSION AND OTHER EMPLOYEE BENEFITSContribution pension planEmployees in Medistim with a pension plan are included in a contribution plan where an agreed percentage of the employee\u2019s salary is paid to the employee pension account. The company\u2019s payment of contributions is expensed in the period it is incurred.Share based paymentsThe Group has a share-based payment scheme for its CEO. The program is settled in shares. The fair value of the share program at the grant date, is expensed over the vesting period. The expense is included in \u201csalary and social expenses\u201d in the income statement and a corresponding amount is recognized as other paid-in capital.",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForSharebasedPaymentTransactionsExplanatory",
"language": "en",
"entity": "scheme:5967007LIEEXZXJOX483",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"s9_notes__6__41": {
"value": "PENSION AND OTHER EMPLOYEE BENEFITSContribution pension planEmployees in Medistim with a pension plan are included in a contribution plan where an agreed percentage of the employee\u2019s salary is paid to the employee pension account. The company\u2019s payment of contributions is expensed in the period it is incurred.Share based paymentsThe Group has a share-based payment scheme for its CEO. The program is settled in shares. The fair value of the share program at the grant date, is expensed over the vesting period. The expense is included in \u201csalary and social expenses\u201d in the income statement and a corresponding amount is recognized as other paid-in capital.",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForEmployeeBenefitsExplanatory",
"language": "en",
"entity": "scheme:5967007LIEEXZXJOX483",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"s9_notes__6__43": {
"value": "Interest bearing loans and borrowings.Loan and borrowings are initially recognized at fair value net of directly attributable transaction costs, and subsequently measuring at amortized cost.",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForBorrowingsExplanatory",
"language": "en",
"entity": "scheme:5967007LIEEXZXJOX483",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"s9_notes__6__44": {
"value": "The tax expense in the income statement includes both payable taxes for the period and changes in deferred tax. Deferred tax is calculated based on temporary differences between tax values and carrying amount of assets and liabilities.",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForIncomeTaxExplanatory",
"language": "en",
"entity": "scheme:5967007LIEEXZXJOX483",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"s9_notes__6__45": {
"value": "A deferred tax asset is recognized when it is convincing evidence that the company will have sufficient taxable profit in the future to utilize the tax asset. The companies recognize previously unrecognized deferred tax assets to the extent it has become probable that the company can utilize the deferred tax asset. Similarly, the company will reduce a deferred tax asset to the extent that the company no longer regards it as probable that it can utilize the deferred tax asset.Deferred tax and deferred tax assets are determined using the tax rates that have been enacted or substantively enacted by the reporting date and are expected to apply when the deferred tax asset is settled/recovered. Deferred tax and tax assets are measured at nominal value and is classified as a non-current asset in the balance sheet. Tax payable and deferred tax is recorded against equity if the transaction is an equity transaction.",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForDeferredIncomeTaxExplanatory",
"language": "en",
"entity": "scheme:5967007LIEEXZXJOX483",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"s9_notes__6__46": {
"value": "SegmentThe group is organized, for management purpose, in two divisions dependent upon products and services. The segments are identified based upon different risk and return on investment profile. Information regarding segments is presented in note 2.Internal profit between the segments is eliminated .The segment reporting is similar to the internal reports that are given to the decision makers in the company. The decision makers are responsible for allocating resources and assessing profitability within the segments, and are identified as the management team that takes strategic decisions.",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForSegmentReportingExplanatory",
"language": "en",
"entity": "scheme:5967007LIEEXZXJOX483",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"s9_notes__6__47": {
"value": "Contingent liabilities and assetsContingent liabilities are not recognized in the financial statements. Information about significant contingent liabilities is disclosed.Contingent assets are not recognized in thefinancial statements, but are disclosed if an inflow of economic benefits is probable.",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForContingentLiabilitiesAndContingentAssetsExplanatory",
"language": "en",
"entity": "scheme:5967007LIEEXZXJOX483",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"s9_notes__6__48-1": {
"value": "Events after the balance sheet dateInformation after the reporting period that provide evidence of conditions that existed at the end of the reporting (\u201dadjusting events\u201d), are reflected in the amounts recognized in the financial statement. Information after the reporting period that are indicative of conditions that arose after thereporting period (\u201cnon-adjusting events\u201d) are not reflected in the amounts recognized in the financial statement, but are disclosed if material.Note 25 Events after 2022 The Board of directors has no knowledge about events after 2022 that will affect the annual report and financial statement for 2022. ",
"dimensions": {
"concept": "ifrs-full:DisclosureOfEventsAfterReportingPeriodExplanatory",
"language": "en",
"entity": "scheme:5967007LIEEXZXJOX483",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"s9_notes__6__50": {
"value": "Use of estimates and judgementThe preparation of the consolidated financialstatements requires management to make judgments, estimates and assumptions that effect the recognition and measurement of certain assets, liabilities, revenue and expense. The following area involves the most critical estimates and judgments for the company: \u0373 Research and development cost relating tointernally developed technology and software \u0373 Goodwill.Future events could lead to a change in estimates. The estimates and assumptions for the estimates are continuously evaluated. Changes in accounting estimates are recognized in the period the change take place. If the change also affect future periods, the effect on future periods will be recognized as income or expense in those future periods. Of events that has affected future estimates is the COVID 19 pandemic. By-pass surgery is to a large extent elective surgery. When the outbreak of COVID 19 was a fact, several by-pass surgeries where postponed. As a consequence, the activity level within by-pass surgery was reduced compared to normal level. Medistim has over several years had a growth of 7% to 10 % per year, but because of COVID 19 sales in 2020 without growth compared to 2019. The reduced activity level was as expected temporary, and in 2021 activity level increased above normal to reduce the build up of patient queues.While Medistim has been affected by the COVID situation, the company have been able to deliver solid profit and cash flow. The need for Medistim\u2019s products has not changed, and the strong recovery seen through 2022 may indicate that cardiac bypass surgeries are at large back to normal. However, there are still some uncertainties related to new variants of the virus. The expected COVID 19 effects are included in the estimates and none of the balance sheet values was impaired. See also note 12. ",
"dimensions": {
"concept": "ifrs-full:DisclosureOfAccountingJudgementsAndEstimatesExplanatory",
"language": "en",
"entity": "scheme:5967007LIEEXZXJOX483",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"s9_notes__6__49": {
"value": "Use of estimates and judgementThe preparation of the consolidated financialstatements requires management to make judgments, estimates and assumptions that effect the recognition and measurement of certain assets, liabilities, revenue and expense. The following area involves the most critical estimates and judgments for the company: \u0373 Research and development cost relating tointernally developed technology and software \u0373 Goodwill.Future events could lead to a change in estimates. The estimates and assumptions for the estimates are continuously evaluated. Changes in accounting estimates are recognized in the period the change take place. If the change also affect future periods, the effect on future periods will be recognized as income or expense in those future periods. Of events that has affected future estimates is the COVID 19 pandemic. By-pass surgery is to a large extent elective surgery. When the outbreak of COVID 19 was a fact, several by-pass surgeries where postponed. As a consequence, the activity level within by-pass surgery was reduced compared to normal level. Medistim has over several years had a growth of 7% to 10 % per year, but because of COVID 19 sales in 2020 without growth compared to 2019. The reduced activity level was as expected temporary, and in 2021 activity level increased above normal to reduce the build up of patient queues.While Medistim has been affected by the COVID situation, the company have been able to deliver solid profit and cash flow. The need for Medistim\u2019s products has not changed, and the strong recovery seen through 2022 may indicate that cardiac bypass surgeries are at large back to normal. However, there are still some uncertainties related to new variants of the virus. The expected COVID 19 effects are included in the estimates and none of the balance sheet values was impaired. See also note 12. ",
"dimensions": {
"concept": "ifrs-full:ExplanationOfAssumptionAboutFutureWithSignificantRiskOfResultingInMaterialAdjustments",
"language": "en",
"entity": "scheme:5967007LIEEXZXJOX483",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"s9_notes__6__51": {
"value": "GoodwillThe group\u2019s goodwill in the balance sheet is yearly tested for impairment. Goodwill occurred with the acquisition of Medi-Stim Norge AS, which was executed with effect from 01.01.02, and the acquisition of Kir-Op AS that was executed with effect from 06.07.06. Total recorded goodwill by year-end 2020 was 14.1 MNOK. Goodwill of MNOK 7.9 was allocated to the Medi-Stim Norge AS acquisition and MNOK 6.2 was allocated at the Kir-Op AS acquisition. Goodwill in both companies is related to employee know-how, experience in the distribution business and cost savings by gathering common functions. Both companies distribute third party products within surgery. During 2006, there was a fusion of the two companies and a otal evaluation for both companies in relation to impairment was done for goodwill thereafter. Both entities are within the same segment. The total value of the business is dependent upon the success of maintaining and increasing the product portfolio. The value from the cash-generating unit exceeded the book value in the balance sheet and the goodwill value for 2021 was not impaired. See also note 12 for the assumptions used in the estimate.",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForGoodwillExplanatory",
"language": "en",
"entity": "scheme:5967007LIEEXZXJOX483",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"s9_notes__6__53": {
"value": "New and amended standards not yet effective There are no new standards, interpretations or amendments that are issued, but not yet effective, that are expected to cause any significant changes for Medistim.10.6 Notes to the accounts",
"dimensions": {
"concept": "ifrs-full:DescriptionOfOtherAccountingPoliciesRelevantToUnderstandingOfFinancialStatements",
"language": "en",
"entity": "scheme:5967007LIEEXZXJOX483",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"s9_notes__6__57-1": {
"value": "Note 1 RevenueGroup revenue can be split in three differentcategories that have different risk and returnon investment profile. The split is according tothe company\u2019s internal reporting structure. Thecategories are as follows: 1. Revenue from sale of capital equipment (MiraQ) and consumable (probes) 2. Revenue from lease of equipment (MiraQ andprobes)3. Distribution and sales of third-party productsCategory 1 and 2 covers the same equipment(MiraQ system) and consumables (probes). Theseare the products that are developed and produced by Medistim and distributed through local partners unless Medistim has local representation. 1. Sale of capital equipment and consumable:The sale of the equipment and the sale of theconsumables are considered separate deliveries (performance obligations). Revenue recognitionvaries with shipping and delivery terms thatdecide the timing of when the customer takesover control of the goods. Payment termsvaries from 30 to 90 days. The Group provideswarranties for general repairs of defects thatexisted at the time of sale. This is considered asa separate performance obligation. A warrantyprovision is recognized, see note 21.2. Revenue from lease of equipment and probes:The group has a range of contracts related tolease of equipment and probes and can be splitin two categories:a. Payment per proceduresb. Lease of equipment and sale of probesPayment per procedure:Under this model, the equipment and probesare placed at the customer site free of charge.Medistim owns all equipment placed at thecustomer site. For the customer to be able to usethe equipment a procedure (smart card) must bepurchased. One procedure equals one surgery. The customer purchases a smart card that makes thesystem available for use. The agreement is considered a lease with variable lease payments. Revenue is variable and recognized related to the actual use of the equipment and probes. For Medistim this means that revenue is recognized when a new card is shipped to a customer. There are two types of customers, flow customers and flow and imaging customers. Flow customers purchases a flow procedure, while flow and imaging customers purchase both a flow procedure and an imaging procedure. It is therefore a split of revenue between flow procedures and imaging procedures. Revenue is recognized when smart cards are purchased by the customer. The customer is dependent upon the smart card in order to open the equipment and probe for use. The agreements are operational since equipment is returned when the agreement expires.The individual agreement contains a minimum use clause. The duration of the agreement is 1-3 years, but divided into 12-month cycles, so minimum usage applies for 12 months at a time. If minimum usage is not achieved, Medistim has the right to extract the equipment from the customer site.Lease of systems and sales of probes:Under this model, the customer leases the system and purchases probes when needed. The system revenue is recognized on a straight-line basis over the lease term. Probe revenue is recognized when the probe is delivered to the customer.Other terms in the agreements:If a customer with a pay per procedure or lease agreement does not handle the equipmentproperly, the customer is liable towards Medistim to compensate for the damage and repair. It happens that customers after too low consumption want to keep the equipment. In such cases, the customer may purchase the equipment. In this case, this is registered as a system sale.3. Third party sales: Sale of other third-party medical equipment is recognized when the equipment is delivered to the customer.Payment from customers are mainly due within 30 days. Other income in the P&L includes service, spare parts, grants and other income that is not own products or third party products. See note 1 for split of revenue.Note 2 SegmentsThe Group's activities are divided into strategicbusiness units that are organized and managedseparately. The division is also in accordance withthe Group's internal reporting structure. The mainrd divisions are sale of own products and sale of 3party products. Sale of own products has two businessmodels, the capital model and the lease model. Transactions between internal business unitsare performed at market terms. Revenue, costand result for each segment includes transactionbetween the segments. On group level thesetransactions are eliminated. Own Products category:Medistim has a flexible business model in the USAand leaves it up to the customer whether they want to lease the equipment or purchase the capitalequipment and buy probes as consumable. Mostcustomers in the USA lease the equipment. The lease model in the USA has been successful since it doesnot demand upfront capital to have the equipmentavailable. Medistim has direct representation in theUSA, which makes it manageable to handle the lease model properly. However, several customers preferto invest in the equipment and purchase probes asconsumables and Medistim promotes both solutions. The lease model has not been successful outsideUSA. It is often so that hospitals have a policythat the equipment they use must be hospitalproperty. In addition, Medistim can only follow upthis model properly where the company has directrepresentation, since lease customers requireMedistim property at the customer site. Medistimserves around 60 distributors around the world. Tofollow up assets placed at customer sites in a globalscale, and have distributors to manage Medistimassets, is considered to be to complex and risky. Third party products category:Distribution and sale of third-party products is aseparate segment. The group sells medical devices from third party manufacturers in Norway and Denmark.The product portfolio is carefully selected and mainlyinstruments and consumables within surgery. SPLIT OF REVENUE AND OPERATING PROFIT FOR OPERATING SEGMENTSSegmentOWN PRODUCTS THIRD PARTY PRODUCTS GROUP1 = NOK 1000 2 022 2 021 2 022 2 021 2 022 2 021 RevenueSales in USALease revenue from flow procedures 61 096 50 380 - - 61 096 50 380Lease revenue from imaging procedures 32 693 23 949 - - 32 693 23 949Flow probes 37 066 31 594 - - 37 066 31 594Flow systems 13 248 18 108 - - 13 248 18 108Ultrasound imaging systems 44 984 18 984 - - 44 984 18 984Ultrasound imaging probes 9 000 5 831 - - 9 000 5 831 Other revenue - 5 290 - - 5 290Total revenue USA 198 087 154 135 - - 198 087 154 135Sales outside USAFlow probes 125 908 115 704 - - 125 908 115 704Flow systems 36 567 32 898 - - 36 567 32 898Ultrasound imaging systems 41 651 38 912 - - 41 651 38 912Ultrasound imaging probes 8 216 7 118 - - 8 216 7 118 Third party sales - - 75 833 74 340 75 833 74 340 Other revenue 5 675 4 169 - - 5 675 4 169 Total revenue outside USA 218 016 198 800 75 833 74 340 293 850 273 141Total revenue 416 104 352 936 75 833 74 340 491 937 427 276 Cost of goods sold 66 195 56 194 40 291 40 920 106 485 97 114 Salary and social expenses 131 182 120 893 15 194 13 614 146 376 134 507 Other operating expenses 67 133 50 031 7 405 5 920 74 537 55 950 Depreciation 22 923 23 078 365 349 23 288 23 427 Operating profit per segment 128 671 102 740 12 579 13 537 141 250 116 277 Additional sales information:A geographical sales split is monitored to be able to follow the development in sales in the USA with the greatest potential, Europe where market penetration is strong and Asia with the largest future growth potential. INFORMATION ABOUT GEOGRAPHICAL AREASGeographic split of Rest of the segmentsUSA Europe Asia world Group1 = NOK 1000 2 022 2 021 2 022 2 021 2 022 2 021 2 022 2 021 2 022 2 021 Revenue own 198 087 154 135 124 811 115 849 76 793 66 805 16 412 16 146 416 104 352 936 productsRevenue 3. party - - 75 833 74 340 - - - - 75 833 74 340 productsRevenue in units own productsProcedures flow 69 417 59 397 - - - - - - 69 417 59 397 Procedures imaging 16 613 12 635 - - - - - - 16 613 12 635 Flow probes 3 174 3 080 4 659 4 524 3 101 2 683 846 781 11 780 11 068 Flow systems 14 22 55 54 73 59 7 12 149 147 Ultrasound imaging 32 16 29 27 30 34 10 6 101 83 systems Ultrasound imaging 158 133 55 50 39 46 18 11 270 240 probes Lease of flow 4 9 - - - - - - 4 9 systems Lease of flow and 4 10 - - - - - - 4 10 imaging systems Revenue in units 3. N.A N.A N.A N.A N.A N.A N.A N.A N.A N.Aparty Information about geographical areas Split of revenue between coronary surgery and vascular surgeryThe company has in addition to coronary surgery a strategy and focus towards vascular surgery. The principles for guiding and quality assurance within vascular surgery is the same as within coronary surgery. The difference is that within coronary surgery the surgeons focus is to supply the hart with blood, while within vascular surgery the focus is to ensure blood flow in other parts in the body or organs. The vascular market has gained increased focus from the company in order to ensure that the products from the company gets a foothold within more than just coronary surgery. It is therefore natural to report sales split between cardiac surgery and vascular surgery. SPLIT OF REVENUE BETWEEN CORONARY- AND VASCULAR SURGERY 2 022 2021FOR OWN PRODUCTS AND 3 PARTY PRODUCTS1 = NOK 1000Split of own productsSales within coronary surgery 346 550 293 025 Sales within vascular surgery 69 554 54 619 Other revenue USA - 5 292Sales of 3. party products 75 833 74 340Total sales 491 937 427 276 Major CustomersWhere Medistim has direct representation the customers are hospitals and none of these are dominant in the sense that they represent a major part of the group revenue. Of Medistim's installed base of about 3300 systems, the largest customer has 7 systems. This means that this customer would represent about 0.25 % of total revenue. However, Medistim is also represented through distributors, and the two largest distributors represent 7.5 % and 6 % of the groups revenue respectively. The two largest distributors are independent of each other and operates in different geographical areas.",
"dimensions": {
"concept": "ifrs-full:DisclosureOfRevenueFromContractsWithCustomersExplanatory",
"language": "en",
"entity": "scheme:5967007LIEEXZXJOX483",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"s9_notes__6__60": {
"value": "Note 2 SegmentsThe Group's activities are divided into strategicbusiness units that are organized and managedseparately. The division is also in accordance withthe Group's internal reporting structure. The mainrd divisions are sale of own products and sale of 3party products. Sale of own products has two businessmodels, the capital model and the lease model. Transactions between internal business unitsare performed at market terms. Revenue, costand result for each segment includes transactionbetween the segments. On group level thesetransactions are eliminated. Own Products category:Medistim has a flexible business model in the USAand leaves it up to the customer whether they want to lease the equipment or purchase the capitalequipment and buy probes as consumable. Mostcustomers in the USA lease the equipment. The lease model in the USA has been successful since it doesnot demand upfront capital to have the equipmentavailable. Medistim has direct representation in theUSA, which makes it manageable to handle the lease model properly. However, several customers preferto invest in the equipment and purchase probes asconsumables and Medistim promotes both solutions. The lease model has not been successful outsideUSA. It is often so that hospitals have a policythat the equipment they use must be hospitalproperty. In addition, Medistim can only follow upthis model properly where the company has directrepresentation, since lease customers requireMedistim property at the customer site. Medistimserves around 60 distributors around the world. Tofollow up assets placed at customer sites in a globalscale, and have distributors to manage Medistimassets, is considered to be to complex and risky. Third party products category:Distribution and sale of third-party products is aseparate segment. The group sells medical devices from third party manufacturers in Norway and Denmark.The product portfolio is carefully selected and mainlyinstruments and consumables within surgery. SPLIT OF REVENUE AND OPERATING PROFIT FOR OPERATING SEGMENTSSegmentOWN PRODUCTS THIRD PARTY PRODUCTS GROUP1 = NOK 1000 2 022 2 021 2 022 2 021 2 022 2 021 RevenueSales in USALease revenue from flow procedures 61 096 50 380 - - 61 096 50 380Lease revenue from imaging procedures 32 693 23 949 - - 32 693 23 949Flow probes 37 066 31 594 - - 37 066 31 594Flow systems 13 248 18 108 - - 13 248 18 108Ultrasound imaging systems 44 984 18 984 - - 44 984 18 984Ultrasound imaging probes 9 000 5 831 - - 9 000 5 831 Other revenue - 5 290 - - 5 290Total revenue USA 198 087 154 135 - - 198 087 154 135Sales outside USAFlow probes 125 908 115 704 - - 125 908 115 704Flow systems 36 567 32 898 - - 36 567 32 898Ultrasound imaging systems 41 651 38 912 - - 41 651 38 912Ultrasound imaging probes 8 216 7 118 - - 8 216 7 118 Third party sales - - 75 833 74 340 75 833 74 340 Other revenue 5 675 4 169 - - 5 675 4 169 Total revenue outside USA 218 016 198 800 75 833 74 340 293 850 273 141Total revenue 416 104 352 936 75 833 74 340 491 937 427 276 Cost of goods sold 66 195 56 194 40 291 40 920 106 485 97 114 Salary and social expenses 131 182 120 893 15 194 13 614 146 376 134 507 Other operating expenses 67 133 50 031 7 405 5 920 74 537 55 950 Depreciation 22 923 23 078 365 349 23 288 23 427 Operating profit per segment 128 671 102 740 12 579 13 537 141 250 116 277 Additional sales information:A geographical sales split is monitored to be able to follow the development in sales in the USA with the greatest potential, Europe where market penetration is strong and Asia with the largest future growth potential. INFORMATION ABOUT GEOGRAPHICAL AREASGeographic split of Rest of the segmentsUSA Europe Asia world Group1 = NOK 1000 2 022 2 021 2 022 2 021 2 022 2 021 2 022 2 021 2 022 2 021 Revenue own 198 087 154 135 124 811 115 849 76 793 66 805 16 412 16 146 416 104 352 936 productsRevenue 3. party - - 75 833 74 340 - - - - 75 833 74 340 productsRevenue in units own productsProcedures flow 69 417 59 397 - - - - - - 69 417 59 397 Procedures imaging 16 613 12 635 - - - - - - 16 613 12 635 Flow probes 3 174 3 080 4 659 4 524 3 101 2 683 846 781 11 780 11 068 Flow systems 14 22 55 54 73 59 7 12 149 147 Ultrasound imaging 32 16 29 27 30 34 10 6 101 83 systems Ultrasound imaging 158 133 55 50 39 46 18 11 270 240 probes Lease of flow 4 9 - - - - - - 4 9 systems Lease of flow and 4 10 - - - - - - 4 10 imaging systems Revenue in units 3. N.A N.A N.A N.A N.A N.A N.A N.A N.A N.Aparty Information about geographical areas Split of revenue between coronary surgery and vascular surgeryThe company has in addition to coronary surgery a strategy and focus towards vascular surgery. The principles for guiding and quality assurance within vascular surgery is the same as within coronary surgery. The difference is that within coronary surgery the surgeons focus is to supply the hart with blood, while within vascular surgery the focus is to ensure blood flow in other parts in the body or organs. The vascular market has gained increased focus from the company in order to ensure that the products from the company gets a foothold within more than just coronary surgery. It is therefore natural to report sales split between cardiac surgery and vascular surgery. SPLIT OF REVENUE BETWEEN CORONARY- AND VASCULAR SURGERY 2 022 2021FOR OWN PRODUCTS AND 3 PARTY PRODUCTS1 = NOK 1000Split of own productsSales within coronary surgery 346 550 293 025 Sales within vascular surgery 69 554 54 619 Other revenue USA - 5 292Sales of 3. party products 75 833 74 340Total sales 491 937 427 276 Major CustomersWhere Medistim has direct representation the customers are hospitals and none of these are dominant in the sense that they represent a major part of the group revenue. Of Medistim's installed base of about 3300 systems, the largest customer has 7 systems. This means that this customer would represent about 0.25 % of total revenue. However, Medistim is also represented through distributors, and the two largest distributors represent 7.5 % and 6 % of the groups revenue respectively. The two largest distributors are independent of each other and operates in different geographical areas.",
"dimensions": {
"concept": "ifrs-full:DisclosureOfProfitLossFromOperatingActivitiesExplanatory",
"language": "en",
"entity": "scheme:5967007LIEEXZXJOX483",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"s9_notes__6__59": {
"value": "Note 2 SegmentsThe Group's activities are divided into strategicbusiness units that are organized and managedseparately. The division is also in accordance withthe Group's internal reporting structure. The mainrd divisions are sale of own products and sale of 3party products. Sale of own products has two businessmodels, the capital model and the lease model. Transactions between internal business unitsare performed at market terms. Revenue, costand result for each segment includes transactionbetween the segments. On group level thesetransactions are eliminated. Own Products category:Medistim has a flexible business model in the USAand leaves it up to the customer whether they want to lease the equipment or purchase the capitalequipment and buy probes as consumable. Mostcustomers in the USA lease the equipment. The lease model in the USA has been successful since it doesnot demand upfront capital to have the equipmentavailable. Medistim has direct representation in theUSA, which makes it manageable to handle the lease model properly. However, several customers preferto invest in the equipment and purchase probes asconsumables and Medistim promotes both solutions. The lease model has not been successful outsideUSA. It is often so that hospitals have a policythat the equipment they use must be hospitalproperty. In addition, Medistim can only follow upthis model properly where the company has directrepresentation, since lease customers requireMedistim property at the customer site. Medistimserves around 60 distributors around the world. Tofollow up assets placed at customer sites in a globalscale, and have distributors to manage Medistimassets, is considered to be to complex and risky. Third party products category:Distribution and sale of third-party products is aseparate segment. The group sells medical devices from third party manufacturers in Norway and Denmark.The product portfolio is carefully selected and mainlyinstruments and consumables within surgery. SPLIT OF REVENUE AND OPERATING PROFIT FOR OPERATING SEGMENTSSegmentOWN PRODUCTS THIRD PARTY PRODUCTS GROUP1 = NOK 1000 2 022 2 021 2 022 2 021 2 022 2 021 RevenueSales in USALease revenue from flow procedures 61 096 50 380 - - 61 096 50 380Lease revenue from imaging procedures 32 693 23 949 - - 32 693 23 949Flow probes 37 066 31 594 - - 37 066 31 594Flow systems 13 248 18 108 - - 13 248 18 108Ultrasound imaging systems 44 984 18 984 - - 44 984 18 984Ultrasound imaging probes 9 000 5 831 - - 9 000 5 831 Other revenue - 5 290 - - 5 290Total revenue USA 198 087 154 135 - - 198 087 154 135Sales outside USAFlow probes 125 908 115 704 - - 125 908 115 704Flow systems 36 567 32 898 - - 36 567 32 898Ultrasound imaging systems 41 651 38 912 - - 41 651 38 912Ultrasound imaging probes 8 216 7 118 - - 8 216 7 118 Third party sales - - 75 833 74 340 75 833 74 340 Other revenue 5 675 4 169 - - 5 675 4 169 Total revenue outside USA 218 016 198 800 75 833 74 340 293 850 273 141Total revenue 416 104 352 936 75 833 74 340 491 937 427 276 Cost of goods sold 66 195 56 194 40 291 40 920 106 485 97 114 Salary and social expenses 131 182 120 893 15 194 13 614 146 376 134 507 Other operating expenses 67 133 50 031 7 405 5 920 74 537 55 950 Depreciation 22 923 23 078 365 349 23 288 23 427 Operating profit per segment 128 671 102 740 12 579 13 537 141 250 116 277 Additional sales information:A geographical sales split is monitored to be able to follow the development in sales in the USA with the greatest potential, Europe where market penetration is strong and Asia with the largest future growth potential. INFORMATION ABOUT GEOGRAPHICAL AREASGeographic split of Rest of the segmentsUSA Europe Asia world Group1 = NOK 1000 2 022 2 021 2 022 2 021 2 022 2 021 2 022 2 021 2 022 2 021 Revenue own 198 087 154 135 124 811 115 849 76 793 66 805 16 412 16 146 416 104 352 936 productsRevenue 3. party - - 75 833 74 340 - - - - 75 833 74 340 productsRevenue in units own productsProcedures flow 69 417 59 397 - - - - - - 69 417 59 397 Procedures imaging 16 613 12 635 - - - - - - 16 613 12 635 Flow probes 3 174 3 080 4 659 4 524 3 101 2 683 846 781 11 780 11 068 Flow systems 14 22 55 54 73 59 7 12 149 147 Ultrasound imaging 32 16 29 27 30 34 10 6 101 83 systems Ultrasound imaging 158 133 55 50 39 46 18 11 270 240 probes Lease of flow 4 9 - - - - - - 4 9 systems Lease of flow and 4 10 - - - - - - 4 10 imaging systems Revenue in units 3. N.A N.A N.A N.A N.A N.A N.A N.A N.A N.Aparty Information about geographical areas Split of revenue between coronary surgery and vascular surgeryThe company has in addition to coronary surgery a strategy and focus towards vascular surgery. The principles for guiding and quality assurance within vascular surgery is the same as within coronary surgery. The difference is that within coronary surgery the surgeons focus is to supply the hart with blood, while within vascular surgery the focus is to ensure blood flow in other parts in the body or organs. The vascular market has gained increased focus from the company in order to ensure that the products from the company gets a foothold within more than just coronary surgery. It is therefore natural to report sales split between cardiac surgery and vascular surgery. SPLIT OF REVENUE BETWEEN CORONARY- AND VASCULAR SURGERY 2 022 2021FOR OWN PRODUCTS AND 3 PARTY PRODUCTS1 = NOK 1000Split of own productsSales within coronary surgery 346 550 293 025 Sales within vascular surgery 69 554 54 619 Other revenue USA - 5 292Sales of 3. party products 75 833 74 340Total sales 491 937 427 276 Major CustomersWhere Medistim has direct representation the customers are hospitals and none of these are dominant in the sense that they represent a major part of the group revenue. Of Medistim's installed base of about 3300 systems, the largest customer has 7 systems. This means that this customer would represent about 0.25 % of total revenue. However, Medistim is also represented through distributors, and the two largest distributors represent 7.5 % and 6 % of the groups revenue respectively. The two largest distributors are independent of each other and operates in different geographical areas.",
"dimensions": {
"concept": "ifrs-full:DisclosureOfEntitysReportableSegmentsExplanatory",
"language": "en",
"entity": "scheme:5967007LIEEXZXJOX483",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"s9_notes__6__58": {
"value": "Note 2 SegmentsThe Group's activities are divided into strategicbusiness units that are organized and managedseparately. The division is also in accordance withthe Group's internal reporting structure. The mainrd divisions are sale of own products and sale of 3party products. Sale of own products has two businessmodels, the capital model and the lease model. Transactions between internal business unitsare performed at market terms. Revenue, costand result for each segment includes transactionbetween the segments. On group level thesetransactions are eliminated. Own Products category:Medistim has a flexible business model in the USAand leaves it up to the customer whether they want to lease the equipment or purchase the capitalequipment and buy probes as consumable. Mostcustomers in the USA lease the equipment. The lease model in the USA has been successful since it doesnot demand upfront capital to have the equipmentavailable. Medistim has direct representation in theUSA, which makes it manageable to handle the lease model properly. However, several customers preferto invest in the equipment and purchase probes asconsumables and Medistim promotes both solutions. The lease model has not been successful outsideUSA. It is often so that hospitals have a policythat the equipment they use must be hospitalproperty. In addition, Medistim can only follow upthis model properly where the company has directrepresentation, since lease customers requireMedistim property at the customer site. Medistimserves around 60 distributors around the world. Tofollow up assets placed at customer sites in a globalscale, and have distributors to manage Medistimassets, is considered to be to complex and risky. Third party products category:Distribution and sale of third-party products is aseparate segment. The group sells medical devices from third party manufacturers in Norway and Denmark.The product portfolio is carefully selected and mainlyinstruments and consumables within surgery. SPLIT OF REVENUE AND OPERATING PROFIT FOR OPERATING SEGMENTSSegmentOWN PRODUCTS THIRD PARTY PRODUCTS GROUP1 = NOK 1000 2 022 2 021 2 022 2 021 2 022 2 021 RevenueSales in USALease revenue from flow procedures 61 096 50 380 - - 61 096 50 380Lease revenue from imaging procedures 32 693 23 949 - - 32 693 23 949Flow probes 37 066 31 594 - - 37 066 31 594Flow systems 13 248 18 108 - - 13 248 18 108Ultrasound imaging systems 44 984 18 984 - - 44 984 18 984Ultrasound imaging probes 9 000 5 831 - - 9 000 5 831 Other revenue - 5 290 - - 5 290Total revenue USA 198 087 154 135 - - 198 087 154 135Sales outside USAFlow probes 125 908 115 704 - - 125 908 115 704Flow systems 36 567 32 898 - - 36 567 32 898Ultrasound imaging systems 41 651 38 912 - - 41 651 38 912Ultrasound imaging probes 8 216 7 118 - - 8 216 7 118 Third party sales - - 75 833 74 340 75 833 74 340 Other revenue 5 675 4 169 - - 5 675 4 169 Total revenue outside USA 218 016 198 800 75 833 74 340 293 850 273 141Total revenue 416 104 352 936 75 833 74 340 491 937 427 276 Cost of goods sold 66 195 56 194 40 291 40 920 106 485 97 114 Salary and social expenses 131 182 120 893 15 194 13 614 146 376 134 507 Other operating expenses 67 133 50 031 7 405 5 920 74 537 55 950 Depreciation 22 923 23 078 365 349 23 288 23 427 Operating profit per segment 128 671 102 740 12 579 13 537 141 250 116 277 Additional sales information:A geographical sales split is monitored to be able to follow the development in sales in the USA with the greatest potential, Europe where market penetration is strong and Asia with the largest future growth potential. INFORMATION ABOUT GEOGRAPHICAL AREASGeographic split of Rest of the segmentsUSA Europe Asia world Group1 = NOK 1000 2 022 2 021 2 022 2 021 2 022 2 021 2 022 2 021 2 022 2 021 Revenue own 198 087 154 135 124 811 115 849 76 793 66 805 16 412 16 146 416 104 352 936 productsRevenue 3. party - - 75 833 74 340 - - - - 75 833 74 340 productsRevenue in units own productsProcedures flow 69 417 59 397 - - - - - - 69 417 59 397 Procedures imaging 16 613 12 635 - - - - - - 16 613 12 635 Flow probes 3 174 3 080 4 659 4 524 3 101 2 683 846 781 11 780 11 068 Flow systems 14 22 55 54 73 59 7 12 149 147 Ultrasound imaging 32 16 29 27 30 34 10 6 101 83 systems Ultrasound imaging 158 133 55 50 39 46 18 11 270 240 probes Lease of flow 4 9 - - - - - - 4 9 systems Lease of flow and 4 10 - - - - - - 4 10 imaging systems Revenue in units 3. N.A N.A N.A N.A N.A N.A N.A N.A N.A N.Aparty Information about geographical areas Split of revenue between coronary surgery and vascular surgeryThe company has in addition to coronary surgery a strategy and focus towards vascular surgery. The principles for guiding and quality assurance within vascular surgery is the same as within coronary surgery. The difference is that within coronary surgery the surgeons focus is to supply the hart with blood, while within vascular surgery the focus is to ensure blood flow in other parts in the body or organs. The vascular market has gained increased focus from the company in order to ensure that the products from the company gets a foothold within more than just coronary surgery. It is therefore natural to report sales split between cardiac surgery and vascular surgery. SPLIT OF REVENUE BETWEEN CORONARY- AND VASCULAR SURGERY 2 022 2021FOR OWN PRODUCTS AND 3 PARTY PRODUCTS1 = NOK 1000Split of own productsSales within coronary surgery 346 550 293 025 Sales within vascular surgery 69 554 54 619 Other revenue USA - 5 292Sales of 3. party products 75 833 74 340Total sales 491 937 427 276 Major CustomersWhere Medistim has direct representation the customers are hospitals and none of these are dominant in the sense that they represent a major part of the group revenue. Of Medistim's installed base of about 3300 systems, the largest customer has 7 systems. This means that this customer would represent about 0.25 % of total revenue. However, Medistim is also represented through distributors, and the two largest distributors represent 7.5 % and 6 % of the groups revenue respectively. The two largest distributors are independent of each other and operates in different geographical areas.",
"dimensions": {
"concept": "ifrs-full:DisclosureOfRevenueExplanatory",
"language": "en",
"entity": "scheme:5967007LIEEXZXJOX483",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"s9_notes__6__62": {
"value": "Note 3 Split of Cost of Goods Sold SPLIT OF COST OF GOODS SOLD 2022 20211 = NOK 1000Third party products 42 828 40 215Components 52 746 45 2403.party services 767 1 169Change in stock level 6 059 5 525Packing material and other materials 54 620Freight 4 032 4 345Total cost of goods sold 106 485 97 114",
"dimensions": {
"concept": "ifrs-full:DisclosureOfCostOfSalesExplanatory",
"language": "en",
"entity": "scheme:5967007LIEEXZXJOX483",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"s9_notes__6__63-1": {
"value": "Note 4 Salary and social expenses SPLIT OF SALARY EXPENSES 2022 20211 = NOK 1000Salary 108 056 99 262Employeers tax 15 778 13 405Bonus 14 878 14 444Cost for contribution pension plan 5 590 4 905Compensation to the Board 1 558 1 350Other social costs 517 1 141Total salary and social cost 146 376 134 507Full time equivalent employeesUSA 25 23Germany 3 3 UK 1 1 Spain 4 2 Denmark 1 1 Norway 98 86 Total 132 116Note 5 Pension expenses and obligationsFor Norwegian employees there is a contribution plan that covers 5 % of salary up to 7,1 G and 8 % of salary between 7,1 and 12. 1G is the base amount in the social security system. Employees in the US follows a pension plan, a 401k match that covers 4 % of salary. The total cost for the contribution plans was in 2022 TNOK 5.590, while it was TNOK 4.905 in 2021. It is compulsory by law for the company to have a pension plan for its employees in Norway. The pension plans in the company fulfill the obligation in the Norwegian law. Employees outside Norway and US do not have a pension plan.",
"dimensions": {
"concept": "ifrs-full:DisclosureOfEmployeeBenefitsExplanatory",
"language": "en",
"entity": "scheme:5967007LIEEXZXJOX483",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"s9_notes__6__64": {
"value": "Full time equivalent employeesUSA 25 23Germany 3 3 UK 1 1 Spain 4 2 Denmark 1 1 Norway 98 86 Total 132 116",
"dimensions": {
"concept": "ifrs-full:DisclosureOfInformationAboutEmployeesExplanatory",
"language": "en",
"entity": "scheme:5967007LIEEXZXJOX483",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"s9_notes__6__65": {
"value": "AUDIT FEE FOR THE GROUP 2022 20211 = NOK 1000Statutory Audit 1 842 1 685Other services 110 155 Total Audit fee 1 952 1 840 The amounts are without VAT",
"dimensions": {
"concept": "ifrs-full:DisclosureOfAuditorsRemunerationExplanatory",
"language": "en",
"entity": "scheme:5967007LIEEXZXJOX483",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"s9_notes__6__68": {
"value": "Note 6 Property, plant and equipment PROPERTY PLANT AND EQUIPMENT2022 2021Other Right-of-Total Other Right-of-Total 1 = NOK 1000EquipmentEquipmentassetsuse assetsassetsassetsuse assetsassetsHistorical costBalance 1. January85 868 25 497 43 688 155 053 79 234 24 517 40 276 144 028Additions7 109 2 647 - 9 756 6 633 1 150 3 412 11 195Disposals- - - - - -170 - -17031.December92 977 28 144 43 688 164 809 85 868 25 497 43 688 155 052Accumulated depreciation and impairmentBalance 1. January 58 821 17 875 19 496 96 191 52 065 14 952 12 328 79 345Depreciation this 7 198 3 054 7 086 17 337 6 724 2 946 7 156 16 826yearDisposals 32 - - 32 Exchange rate -4 36 -1 31 0 23 -12 11differences31. December 66 023 20 892 26 583 113 497 58 821 17 875 19 496 96 191Book value26 954 7 253 17 105 51 312 27 047 7 623 24 192 58 862Depreciation in %14-33 % 20-33 % 12,5-50 % 14-33 % 20-33 % 12,5-50 %Useful life3-7 years 3-5 years 2-8 years 3-7 years 3-5 years 2-8 yearsDepreciation Linear Linear Linear Linear Linear LinearmethodFully depreciated assetsSome assets with total historic cost value of 4.8 MNOK is fully depreciated as of 31.12.2022 but are still in use. Security and right of use assetsEquipment and other assets is pledged as security as of 31.12.2022. The security is related to bank warranties and hedging credit facility. The group\u2019s bank had the same security as of 31.12.2021. See note 7 for right of use assets.",
"dimensions": {
"concept": "ifrs-full:DisclosureOfDepreciationAndAmortisationExpenseExplanatory",
"language": "en",
"entity": "scheme:5967007LIEEXZXJOX483",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"s9_notes__6__67": {
"value": "Note 6 Property, plant and equipment PROPERTY PLANT AND EQUIPMENT2022 2021Other Right-of-Total Other Right-of-Total 1 = NOK 1000EquipmentEquipmentassetsuse assetsassetsassetsuse assetsassetsHistorical costBalance 1. January85 868 25 497 43 688 155 053 79 234 24 517 40 276 144 028Additions7 109 2 647 - 9 756 6 633 1 150 3 412 11 195Disposals- - - - - -170 - -17031.December92 977 28 144 43 688 164 809 85 868 25 497 43 688 155 052Accumulated depreciation and impairmentBalance 1. January 58 821 17 875 19 496 96 191 52 065 14 952 12 328 79 345Depreciation this 7 198 3 054 7 086 17 337 6 724 2 946 7 156 16 826yearDisposals 32 - - 32 Exchange rate -4 36 -1 31 0 23 -12 11differences31. December 66 023 20 892 26 583 113 497 58 821 17 875 19 496 96 191Book value26 954 7 253 17 105 51 312 27 047 7 623 24 192 58 862Depreciation in %14-33 % 20-33 % 12,5-50 % 14-33 % 20-33 % 12,5-50 %Useful life3-7 years 3-5 years 2-8 years 3-7 years 3-5 years 2-8 yearsDepreciation Linear Linear Linear Linear Linear LinearmethodFully depreciated assetsSome assets with total historic cost value of 4.8 MNOK is fully depreciated as of 31.12.2022 but are still in use. Security and right of use assetsEquipment and other assets is pledged as security as of 31.12.2022. The security is related to bank warranties and hedging credit facility. The group\u2019s bank had the same security as of 31.12.2021. See note 7 for right of use assets.",
"dimensions": {
"concept": "ifrs-full:DisclosureOfPropertyPlantAndEquipmentExplanatory",
"language": "en",
"entity": "scheme:5967007LIEEXZXJOX483",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"s9_notes__6__70": {
"value": "Note 7 Right of use assets and lease liabilitiesThe company is renting offices in \u00d8kernveien 94 in Oslo, Bromsveien 17 in Horten and in 14000 25ave. N. Suite108 in Plymouth in Minneapolis, Minnesota, USA. In Oslo and Horten the rental agreement expires in 2025 and2027 respectively. In the USA the rental agreement expire year-end 2023. The rental is adjusted yearly according to National indexes for goods and services. The lease in \u00d8kernveien 94 may be prolonged with 5 years after 2025, the lease in Bromsveien 17 may be prolonged with 2 years after 2027. It is at present uncertain whether these leases will be prolonged. The group also leases office equipment and cars. The longest remaining lease term for office equipment and cars is until November 2024 and August 2025 respectively. Expenses related to short-term leases amounted to 410 TNOK.According to IFRS 16 leased assets are to be recorded in the balance sheet with a corresponding debt and the lease expense recorded as depreciation and interest expense. Medistim's leased assets with right to use andliabilities are shown below.NOTE RIGHT-OF -USE ASSETS AND LEASE LIABILITIES 20221 =NOK 1000Machinery and Right-of-use assetsBuildingsequipment Vehicles Recognition of right to use of asset 1 January 20 782 206 3 204 24 192 Addition of right-of-use assets, CPI adjustments and - - - - other reassessmentAmortisation 5717 80 1289 7 086 Carrying amount of right-of-use assets 31 December 15 065 126 1 915 17 105 Lower of remaining lease term or economic life 4-8 years 2-5 years 1-5 yearsDepreciation method Linear Linear LinearLease liabilitiesUndiscounted lease liabilities and maturity of cash outflowsLess than 1 year 5 773 80 1 315 7 168 1-2 years 5 340 74 742 6 156 3-4 years 2 962 - 167 3 129 4-5 years 2 212 - - 2 212 More than 5 years - - - - Total undiscounted lease liabilities at 31 December 16 287 154 2 224 18 665 Summary of the lease liabilities in the financial Statement of: statementsLease liabilities as of January 1st 24 192 New lease liabilities recognised in the year - Cash payments for the principal portion of the lease Cash flows 7 086 liabilityInterest expense on lease liabilities Profit and loss 226 Total lease liabilities at 31. December 17 105 Current lease liabilities Financial position 7 086 Non-current lease liabilities Financial position 10 020 Total cash outflows for leases Cash flows 7 312",
"dimensions": {
"concept": "ifrs-full:DisclosureOfLeasesExplanatory",
"language": "en",
"entity": "scheme:5967007LIEEXZXJOX483",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"s9_notes__6__69": {
"value": "Note 7 Right of use assets and lease liabilitiesThe company is renting offices in \u00d8kernveien 94 in Oslo, Bromsveien 17 in Horten and in 14000 25ave. N. Suite108 in Plymouth in Minneapolis, Minnesota, USA. In Oslo and Horten the rental agreement expires in 2025 and2027 respectively. In the USA the rental agreement expire year-end 2023. The rental is adjusted yearly according to National indexes for goods and services. The lease in \u00d8kernveien 94 may be prolonged with 5 years after 2025, the lease in Bromsveien 17 may be prolonged with 2 years after 2027. It is at present uncertain whether these leases will be prolonged. The group also leases office equipment and cars. The longest remaining lease term for office equipment and cars is until November 2024 and August 2025 respectively. Expenses related to short-term leases amounted to 410 TNOK.According to IFRS 16 leased assets are to be recorded in the balance sheet with a corresponding debt and the lease expense recorded as depreciation and interest expense. Medistim's leased assets with right to use andliabilities are shown below.NOTE RIGHT-OF -USE ASSETS AND LEASE LIABILITIES 20221 =NOK 1000Machinery and Right-of-use assetsBuildingsequipment Vehicles Recognition of right to use of asset 1 January 20 782 206 3 204 24 192 Addition of right-of-use assets, CPI adjustments and - - - - other reassessmentAmortisation 5717 80 1289 7 086 Carrying amount of right-of-use assets 31 December 15 065 126 1 915 17 105 Lower of remaining lease term or economic life 4-8 years 2-5 years 1-5 yearsDepreciation method Linear Linear LinearLease liabilitiesUndiscounted lease liabilities and maturity of cash outflowsLess than 1 year 5 773 80 1 315 7 168 1-2 years 5 340 74 742 6 156 3-4 years 2 962 - 167 3 129 4-5 years 2 212 - - 2 212 More than 5 years - - - - Total undiscounted lease liabilities at 31 December 16 287 154 2 224 18 665 Summary of the lease liabilities in the financial Statement of: statementsLease liabilities as of January 1st 24 192 New lease liabilities recognised in the year - Cash payments for the principal portion of the lease Cash flows 7 086 liabilityInterest expense on lease liabilities Profit and loss 226 Total lease liabilities at 31. December 17 105 Current lease liabilities Financial position 7 086 Non-current lease liabilities Financial position 10 020 Total cash outflows for leases Cash flows 7 312",
"dimensions": {
"concept": "ifrs-full:DisclosureOfLeasePrepaymentsExplanatory",
"language": "en",
"entity": "scheme:5967007LIEEXZXJOX483",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"s9_notes__6__71": {
"value": "NOTE RIGHT-OF -USE ASSETS AND LEASE LIABILITIES 20221 =NOK 1000Machinery and Right-of-use assetsBuildingsequipment Vehicles Recognition of right to use of asset 1 January 20 782 206 3 204 24 192 Addition of right-of-use assets, CPI adjustments and - - - - other reassessmentAmortisation 5717 80 1289 7 086 Carrying amount of right-of-use assets 31 December 15 065 126 1 915 17 105 Lower of remaining lease term or economic life 4-8 years 2-5 years 1-5 yearsDepreciation method Linear Linear LinearLease liabilitiesUndiscounted lease liabilities and maturity of cash outflowsLess than 1 year 5 773 80 1 315 7 168 1-2 years 5 340 74 742 6 156 3-4 years 2 962 - 167 3 129 4-5 years 2 212 - - 2 212 More than 5 years - - - - Total undiscounted lease liabilities at 31 December 16 287 154 2 224 18 665 Summary of the lease liabilities in the financial Statement of: statementsLease liabilities as of January 1st 24 192 New lease liabilities recognised in the year - Cash payments for the principal portion of the lease Cash flows 7 086 liabilityInterest expense on lease liabilities Profit and loss 226 Total lease liabilities at 31. December 17 105 Current lease liabilities Financial position 7 086 Non-current lease liabilities Financial position 10 020 Total cash outflows for leases Cash flows 7 312",
"dimensions": {
"concept": "ifrs-full:DisclosureOfQuantitativeInformationAboutRightofuseAssetsExplanatory",
"language": "en",
"entity": "scheme:5967007LIEEXZXJOX483",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"s9_notes__6__72": {
"value": "Note 8 Other operating expensesOTHER OPERATING EXPENSES 2022 20211 = NOK 1000Office expenses 1 722 152 Travel cost 10 843 4 955 Marketing 5 910 2 197 Consultants 27 254 25 194 Insurance 2 465 2 229 Freight 2 596 1 906 Communication 1 313 1 039 IT cost 14 463 12 253 Other 7 971 6 028 Total 74 537 55 950",
"dimensions": {
"concept": "ifrs-full:DisclosureOfOtherOperatingExpenseExplanatory",
"language": "en",
"entity": "scheme:5967007LIEEXZXJOX483",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"s9_notes__6__73": {
"value": "Note 9 Financial revenue and expenses As of 31.12.2022, the company had 17.1 MNOK in interest bearing liabilities. Additional cash in the group gave interest revenue of 920 TNOK. Other finance revenue and expenses was realized or unrealized gains or losses towards foreign currency. Financial revenue and expenses are shown below. See note 20 for comment about financial risks and exposure.FINANCIAL REVENUE AND EXPENSES 2 022 2 021 1 = 1000 NOKInterest income 920 16 Other financial income 1 199 172 Gains on foreign exchange 14 427 7 985 Total financial income 16 546 8 173 Loss on foreign exchange 11 363 9 790Interest cost on loans 123 178Other financial expenses 262 412Total financial expenses 11 748 10 380Total financial income (+) expenses (-) 4 799 -2 207",
"dimensions": {
"concept": "ifrs-full:DisclosureOfFinanceIncomeExpenseExplanatory",
"language": "en",
"entity": "scheme:5967007LIEEXZXJOX483",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"s9_notes__6__74": {
"value": "FINANCIAL REVENUE AND EXPENSES 2 022 2 021 1 = 1000 NOKInterest income 920 16 Other financial income 1 199 172 Gains on foreign exchange 14 427 7 985 Total financial income 16 546 8 173",
"dimensions": {
"concept": "ifrs-full:DisclosureOfFinanceIncomeExplanatory",
"language": "en",
"entity": "scheme:5967007LIEEXZXJOX483",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"s9_notes__6__75": {
"value": "Loss on foreign exchange 11 363 9 790Interest cost on loans 123 178Other financial expenses 262 412Total financial expenses 11 748 10 380Total financial income (+) expenses (-) 4 799 -2 207",
"dimensions": {
"concept": "ifrs-full:DisclosureOfFinanceCostExplanatory",
"language": "en",
"entity": "scheme:5967007LIEEXZXJOX483",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"s9_notes__6__77": {
"value": "Note 10 Income tax INCOME TAX 2022 20211 = NOK 1000Current income tax charge 32 879 25 594Correction from previous year -450 -Deferred tax expense -352 -2 423Income tax expense reported in income statement 32 077 23 171Reconciling tax expense towards income before taxTax expense for the year 32 077 23 17122% of income before tax 32 131 25 095Change in deferred tax, temporary differences - -2 423 Permanent differences and different tax rates 54 -499Calculation of effective tax rate 2022 2021Expected income tax at tax rate 22 % in Norway 32 131 25 095Permanent and other differences - -2 423Foreign tax rate differences -54 499Income tax expense 32 077 23 171Effective income tax rate 22,0 % 20,3 %Payable tax in the balance sheetIncome tax expense 32 879 25 594Prepaid tax -7 006 -5 267 Total payable tax 25 873 20 327Specification of deferred taxDifference in valuesNon current assets -1 769 317Current assets -14 905 -15 479Other obligations 348 435Total differences -16 326 -14 726Deferred tax asset 22 % -3 592 -3 240Deferred tax asset recognized in the balance sheet -3 592 -3 240The deferred tax asset in the balance sheet is based upon future utilization of deductible temporary differences. There is no time limitation for utilization of the temporary differences. Tax rates in Germany and in the US are different from Norwegian rates. The difference in tax rates reduces average tax rate in 2022 to 21.9%. TAX EXPENSE FOR THE GROUP IS GEOGRAPHICALLY SPLIT AS FOLLOWS: 2022 20211 = NOK 1000 Norway 26 231 17 390Germany 2 354 2 479USA 3 154 2 779Spain - 265Denmark 338 258 Total 32 077 23 171",
"dimensions": {
"concept": "ifrs-full:DisclosureOfTaxReceivablesAndPayablesExplanatory",
"language": "en",
"entity": "scheme:5967007LIEEXZXJOX483",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"s9_notes__6__76": {
"value": "Note 10 Income tax INCOME TAX 2022 20211 = NOK 1000Current income tax charge 32 879 25 594Correction from previous year -450 -Deferred tax expense -352 -2 423Income tax expense reported in income statement 32 077 23 171Reconciling tax expense towards income before taxTax expense for the year 32 077 23 17122% of income before tax 32 131 25 095Change in deferred tax, temporary differences - -2 423 Permanent differences and different tax rates 54 -499Calculation of effective tax rate 2022 2021Expected income tax at tax rate 22 % in Norway 32 131 25 095Permanent and other differences - -2 423Foreign tax rate differences -54 499Income tax expense 32 077 23 171Effective income tax rate 22,0 % 20,3 %Payable tax in the balance sheetIncome tax expense 32 879 25 594Prepaid tax -7 006 -5 267 Total payable tax 25 873 20 327Specification of deferred taxDifference in valuesNon current assets -1 769 317Current assets -14 905 -15 479Other obligations 348 435Total differences -16 326 -14 726Deferred tax asset 22 % -3 592 -3 240Deferred tax asset recognized in the balance sheet -3 592 -3 240The deferred tax asset in the balance sheet is based upon future utilization of deductible temporary differences. There is no time limitation for utilization of the temporary differences. Tax rates in Germany and in the US are different from Norwegian rates. The difference in tax rates reduces average tax rate in 2022 to 21.9%. TAX EXPENSE FOR THE GROUP IS GEOGRAPHICALLY SPLIT AS FOLLOWS: 2022 20211 = NOK 1000 Norway 26 231 17 390Germany 2 354 2 479USA 3 154 2 779Spain - 265Denmark 338 258 Total 32 077 23 171",
"dimensions": {
"concept": "ifrs-full:DisclosureOfIncomeTaxExplanatory",
"language": "en",
"entity": "scheme:5967007LIEEXZXJOX483",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"s9_notes__6__78": {
"value": "The deferred tax asset in the balance sheet is based upon future utilization of deductible temporary differences. There is no time limitation for utilization of the temporary differences. Tax rates in Germany and in the US are different from Norwegian rates. The difference in tax rates reduces average tax rate in 2022 to 21.9%.",
"dimensions": {
"concept": "ifrs-full:DisclosureOfDeferredTaxesExplanatory",
"language": "en",
"entity": "scheme:5967007LIEEXZXJOX483",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"s9_notes__6__79": {
"value": "Note 11 Earnings per shareEARNINGS PER SHARE 2022 20211 = NOK 1000Profit for the year 113 973 90 900Weighted average numbers of shares outstanding Weighted average number of shares used in basic EPS 18 248 18 216Effect of share options 29 33 Weighted average numbers of shares used in diluted EPS 18 277 18 249Profit per shareOrdinary 6,25 4,99Diluted 6,24 4,98Paid dividend 54 640 54 640 Dividend per share 3,75 3,00Suggested dividend per share 4,50 3,75The company has only one class of shares. Ordinary earning per share is calculated as the relation between profits for the year that is allocated to ordinary shareholders divided with average number of shares outstanding. Treasure shares are not included and average number of treasury shares are excluded from the calculation. In 2022, there were share options to CEO. The share option plan to CEO is described under 8.12 Remuneration of executive personnel and note 21. By year-end the company had 87 033 own shares.",
"dimensions": {
"concept": "ifrs-full:DisclosureOfEarningsPerShareExplanatory",
"language": "en",
"entity": "scheme:5967007LIEEXZXJOX483",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"s9_notes__6__80": {
"value": "Paid dividend 54 640 54 640 Dividend per share 3,75 3,00Suggested dividend per share 4,50 3,75",
"dimensions": {
"concept": "ifrs-full:DisclosureOfDividendsExplanatory",
"language": "en",
"entity": "scheme:5967007LIEEXZXJOX483",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"s9_notes__6__81": {
"value": "3.75",
"decimals": 2,
"dimensions": {
"concept": "ifrs-full:DividendsRecognisedAsDistributionsToOwnersPerShare",
"entity": "scheme:5967007LIEEXZXJOX483",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
"unit": "iso4217:NOK/xbrli:shares"
}
},
"s9_notes__7__81": {
"value": "3",
"decimals": 2,
"dimensions": {
"concept": "ifrs-full:DividendsRecognisedAsDistributionsToOwnersPerShare",
"entity": "scheme:5967007LIEEXZXJOX483",
"period": "2021-01-01T00:00:00/2022-01-01T00:00:00",
"unit": "iso4217:NOK/xbrli:shares"
}
},
"s9_notes__6__83": {
"value": "Note 12 Intangible assets Product technology and additions, goodwill and license agreementIn 2022, 11.85 MNOK of product technology additions, was recognized in the balance sheet related to the MiraQ products. The MiraQ platform forms the basis for future models from Medistim. All development activity is performed in the parent company. INTANGIBLE ASSETS 2022Product under Technology and License Total Goodwilldevelopmentdevelopment costagreementintangible1 = NOK 1000Historic cost Historic cost 31 Dec 22 1 334 80 594 14 128 2 158 98 214 Internal additions in use (1 334) 1 334 - - - External additions in use - - - - - Additions under development 11 851 - - - 11 851 Historic cost 31 Dec 22 11 851 81 928 14 128 - 107 907Accumulated depreciation and - 65 887 - 2 158 68 045 write downsDepreciations for the year - 5 952 - - 5 952Total depreciation as of 31 Dec 22 - 71 839 - - 71 839Carrying amount 31 Dec 22 11 851 10 089 14 128 - 36 068INTANGIBLE ASSETS 2021Product under Technology and License Total Goodwilldevelopmentdevelopment costagreementintangible1 = NOK 1000Historic costHistoric cost 31 Dec - 77 844 14 128 2 158 94 131 Internal additions in use - 1 952 - - 1 952 External additions in use - 797 - - 797 Additions under development 1 334 - - - 1 334 Historic cost 31 Dec 1 334 80 594 14 128 2 158 98 214 Accumulated depreciation and write - 59 824 - 1 618 61 442 downsDepreciations for the year - 6 063 - 539 6 602 Total depreciation as of 31 Dec - 65 887 - 2 158 68 044 Net value in balance sheet 1 334 14 707 14 128 - 30 170Intangible assets are depreciated on a straight-line basis over the useful life. Useful life for capitalized product development is 3 to 8 years. Product technologyProbes to vascular surgery \u2013 the PV probeWithin vascular surgery, there is a correspondingneed to measure blood flow in the same manner as within cardiac surgery. Some vascular surgeons are already using Medistim\u2019s equipment despite the fact that the probes are designed for cardiac surgery. The company has seen an increasing demand over time and in 2011, the company developed a speciallydesigned probe for use in the vascular area. The market in vascular surgery is large and it is performed about 900,000 procedures annually. In comparison, about 700,000 procedures are performed per year within cardiac surgery. This is a significant market where Medistim can customize its solution with a modest investment. Book value as of 31.12.2022 was 1.7 MNOK. Expected useful life for the PV probes are 8 years.4th generation of systems; the MiraQEntering into 2022, Medistim had invested 39.2 MNOK in the system platform that representMedistim's 4th generation of systems within flow measurement and imaging to ensure quality and guiding during surgery. The platform has a flexibility that will allow customer adaption and new applications. The technological improvements have secured and strengthen Medistim\u2019s leading position. The product, MiraQ Cardiac, based upon the platform, was launched by the end of 2014. The MiraQ Vascular system was introduced in 2015 together with the new vascular flow probes late 2015. At the same time the MiraQ Ultimate was introduced that combines the two cardiac and vascular modalities. Book value for the MiraQ platform by year-end was 8.3 MNOK. Expected lifetime for the product is 8 years.Additions under development:This is related to the development of new cardiac flow probes. The aim is to modernize design for the user to make it easier to use, but also develop a design that is more efficient to have in production. Medistim has several years of experience with in house production and input from customers on a better design on the probe for the user. With this extensive experience and knowledge it is likely that a new probe will be developed with success. In 2022 3.3 MNOK was invested in the project and book value by year end 2022 was 4.9 MNOK.The next generation of software within both cardiac segment and vascular segment was under development during 2022. The new software has a new user interface and tools to aid the interpretation of the results. Medistim\u2019s Innovation team has together with Key Opinion Leaders tested several prototypes to identify the preferred solution. In 2022 5.1 MNOK was invested in the software project and book value by year end 2022 was 5.1 MNOK.Medistim needs to be compliant with the new Medical Device Regulation (MDR) In 2022 1.9 MNOK was invested in making Medistim MDR compliant.Summary product technologyIn total 13.9 MNOK of the R & D expenses was recorded in the P & L in 2022. Similar expense was 14.5 MNOK in 2021. With 11.85 MNOK recognized as asset a total of 25.75 MNOK was used in R & D in 2022. Comparable number for 2021 was 18.6 MNOK. Medistim received TNOK 376 in Skattefunn funds in 2021 and TNOK 236 in 2022.In the estimates used to test for impairment, the 3-year strategy plan is used with a discount rate of14.6%. See comment under goodwill with regardto discount rate.GoodwillA yearly test of values is done for the cash flow generating units that has a goodwill value in the balance sheet. GOODWILL 2022 20211 = NOK 1000Acquisition of Medi-Stim 7 960 7 960 Norge ASAcquisition of Kir-Op AS (merged with Medistim 6 168 6 168 Norge AS in 2006)Total goodwill 14 128 14 128 A test of values is performed by estimating the cash flow for Medistim Norge AS. This is estimated using the company\u2019s budget for 2023 and 3-year strategy plan for the years 2024 to 2026 with the assumption of 2 % growth in 2026 compared to 2025. Cash flows for more than five years are estimated by using Gordon\u2019s growth formula with a 2 % growth in the terminal year. The cash flow is discounted using 14.6 % discount rate. This includes an additional yield of 9.1 % compared to risk free interest. The value of the discounted cash flow exceeded the recorded book value in the balance sheet and there was no need for a write down of goodwill.The estimates in the tests are most sensitive to changes in the following parameters:\u2022 Maintaining market share and product lines\u2022 Maintaining margins and keep competitive prices\u2022 Level of minimum return on investment\u2022 Future growth\u2022 Employee know-howMaintaining market share and product lines:Within the medical device industry there are major investments done in the development of products. Medistim Norge has certain product lines that have a large portion of total sales. Medistim Norge\u2019s financial situation will be affected if a new product was released in the market that would replace existing key products, and Medistim Norge is not distributor for the new product. The company would also be affected if a supplier changes distributor or chooses to go direct in the Norwegian market. For this reason it is important for the company to maintain know how and performance to secure key product lines. It is equally important that the company is able to see trends and take in new products with a future potential. The largest product line for the company has 20 % of total sales. If this product line is lost together with another line that is 5 \u2013 10 % of total sales, all goodwill needs to be written down.Maintain margins and keep competitive prices:The company is well connected to its suppliers and when the competition increases the suppliers is contributing by lowering their prices. However, it is not realistic to expect that the suppliers will compensate for all of the reduction in prices. The company\u2019s experience is that about 50 % of the price change is covered by the suppliers in an increased competitive situation. A price reduction of 10 % without any compensation from the suppliers is the break even level for write down of goodwill. Rated average capital cost (WACC):The company uses a WACC that is equal to risk free interest with an addition of 9.1 %). This level is evaluated on a yearly basis and a change in the WACC could affect the evaluation of the intangible assets. Risk-free interest rate is based on 10-year government bond that at the beginning of the year was 5.5%. Including risk free interest of 5.5 % the total discount rate in 2022 is set to 14.6%.Future growth:It is projected growth in sales with a variation from 3% to 2% in the budget and strategy period, and with 2% growth in the terminal value. To be able to maintain this increase it is crucial that the company handles existing product lines in an effective manner and that the company is able to identify and get distribution agreements for new product lines that create more business than lost product lines. Employee know-how:Medistim Norge has over the years built a competence within the medical device industry and distribution. It is essential that this know-how is updated and passed on to new employees.Sensitivity analysis:With the assumption used in the impairment test, the recoverable amount exceeds the carrying amount with 80,0 MNOK (\"headroom\"), and no impairment loss is recognized. Operating margin and growth is based upon historic achieved margin and sales growth. In the estimates the budget and the projections from the 3 year strategy update is used. The operating margin in the projections vary between 13.7 and 15.7 %. Sales growth vary between 3% and 2 %If the operating margin is reduced from 15.0% to 3.5% everything else equal, carrying amount would require an evaluation of impairment loss. A change in the discount rate from 14.6 % to 55.0 % everything else equal, would cause an impairment loss. See overview below.HEADROOMWACC 14,6 % 28,0 % 55,0 %Headroom in MNOK 80,0 34,6 11,9 Operating margin 15,0 % 10,0 % 3,5 %Headroom in MNOK 80,0 16,8 -5,3",
"dimensions": {
"concept": "ifrs-full:DisclosureOfIntangibleAssetsAndGoodwillExplanatory",
"language": "en",
"entity": "scheme:5967007LIEEXZXJOX483",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"s9_notes__6__82": {
"value": "Note 12 Intangible assets Product technology and additions, goodwill and license agreementIn 2022, 11.85 MNOK of product technology additions, was recognized in the balance sheet related to the MiraQ products. The MiraQ platform forms the basis for future models from Medistim. All development activity is performed in the parent company. INTANGIBLE ASSETS 2022Product under Technology and License Total Goodwilldevelopmentdevelopment costagreementintangible1 = NOK 1000Historic cost Historic cost 31 Dec 22 1 334 80 594 14 128 2 158 98 214 Internal additions in use (1 334) 1 334 - - - External additions in use - - - - - Additions under development 11 851 - - - 11 851 Historic cost 31 Dec 22 11 851 81 928 14 128 - 107 907Accumulated depreciation and - 65 887 - 2 158 68 045 write downsDepreciations for the year - 5 952 - - 5 952Total depreciation as of 31 Dec 22 - 71 839 - - 71 839Carrying amount 31 Dec 22 11 851 10 089 14 128 - 36 068INTANGIBLE ASSETS 2021Product under Technology and License Total Goodwilldevelopmentdevelopment costagreementintangible1 = NOK 1000Historic costHistoric cost 31 Dec - 77 844 14 128 2 158 94 131 Internal additions in use - 1 952 - - 1 952 External additions in use - 797 - - 797 Additions under development 1 334 - - - 1 334 Historic cost 31 Dec 1 334 80 594 14 128 2 158 98 214 Accumulated depreciation and write - 59 824 - 1 618 61 442 downsDepreciations for the year - 6 063 - 539 6 602 Total depreciation as of 31 Dec - 65 887 - 2 158 68 044 Net value in balance sheet 1 334 14 707 14 128 - 30 170Intangible assets are depreciated on a straight-line basis over the useful life. Useful life for capitalized product development is 3 to 8 years. Product technologyProbes to vascular surgery \u2013 the PV probeWithin vascular surgery, there is a correspondingneed to measure blood flow in the same manner as within cardiac surgery. Some vascular surgeons are already using Medistim\u2019s equipment despite the fact that the probes are designed for cardiac surgery. The company has seen an increasing demand over time and in 2011, the company developed a speciallydesigned probe for use in the vascular area. The market in vascular surgery is large and it is performed about 900,000 procedures annually. In comparison, about 700,000 procedures are performed per year within cardiac surgery. This is a significant market where Medistim can customize its solution with a modest investment. Book value as of 31.12.2022 was 1.7 MNOK. Expected useful life for the PV probes are 8 years.4th generation of systems; the MiraQEntering into 2022, Medistim had invested 39.2 MNOK in the system platform that representMedistim's 4th generation of systems within flow measurement and imaging to ensure quality and guiding during surgery. The platform has a flexibility that will allow customer adaption and new applications. The technological improvements have secured and strengthen Medistim\u2019s leading position. The product, MiraQ Cardiac, based upon the platform, was launched by the end of 2014. The MiraQ Vascular system was introduced in 2015 together with the new vascular flow probes late 2015. At the same time the MiraQ Ultimate was introduced that combines the two cardiac and vascular modalities. Book value for the MiraQ platform by year-end was 8.3 MNOK. Expected lifetime for the product is 8 years.Additions under development:This is related to the development of new cardiac flow probes. The aim is to modernize design for the user to make it easier to use, but also develop a design that is more efficient to have in production. Medistim has several years of experience with in house production and input from customers on a better design on the probe for the user. With this extensive experience and knowledge it is likely that a new probe will be developed with success. In 2022 3.3 MNOK was invested in the project and book value by year end 2022 was 4.9 MNOK.The next generation of software within both cardiac segment and vascular segment was under development during 2022. The new software has a new user interface and tools to aid the interpretation of the results. Medistim\u2019s Innovation team has together with Key Opinion Leaders tested several prototypes to identify the preferred solution. In 2022 5.1 MNOK was invested in the software project and book value by year end 2022 was 5.1 MNOK.Medistim needs to be compliant with the new Medical Device Regulation (MDR) In 2022 1.9 MNOK was invested in making Medistim MDR compliant.Summary product technologyIn total 13.9 MNOK of the R & D expenses was recorded in the P & L in 2022. Similar expense was 14.5 MNOK in 2021. With 11.85 MNOK recognized as asset a total of 25.75 MNOK was used in R & D in 2022. Comparable number for 2021 was 18.6 MNOK. Medistim received TNOK 376 in Skattefunn funds in 2021 and TNOK 236 in 2022.In the estimates used to test for impairment, the 3-year strategy plan is used with a discount rate of14.6%. See comment under goodwill with regardto discount rate.GoodwillA yearly test of values is done for the cash flow generating units that has a goodwill value in the balance sheet. GOODWILL 2022 20211 = NOK 1000Acquisition of Medi-Stim 7 960 7 960 Norge ASAcquisition of Kir-Op AS (merged with Medistim 6 168 6 168 Norge AS in 2006)Total goodwill 14 128 14 128 A test of values is performed by estimating the cash flow for Medistim Norge AS. This is estimated using the company\u2019s budget for 2023 and 3-year strategy plan for the years 2024 to 2026 with the assumption of 2 % growth in 2026 compared to 2025. Cash flows for more than five years are estimated by using Gordon\u2019s growth formula with a 2 % growth in the terminal year. The cash flow is discounted using 14.6 % discount rate. This includes an additional yield of 9.1 % compared to risk free interest. The value of the discounted cash flow exceeded the recorded book value in the balance sheet and there was no need for a write down of goodwill.The estimates in the tests are most sensitive to changes in the following parameters:\u2022 Maintaining market share and product lines\u2022 Maintaining margins and keep competitive prices\u2022 Level of minimum return on investment\u2022 Future growth\u2022 Employee know-howMaintaining market share and product lines:Within the medical device industry there are major investments done in the development of products. Medistim Norge has certain product lines that have a large portion of total sales. Medistim Norge\u2019s financial situation will be affected if a new product was released in the market that would replace existing key products, and Medistim Norge is not distributor for the new product. The company would also be affected if a supplier changes distributor or chooses to go direct in the Norwegian market. For this reason it is important for the company to maintain know how and performance to secure key product lines. It is equally important that the company is able to see trends and take in new products with a future potential. The largest product line for the company has 20 % of total sales. If this product line is lost together with another line that is 5 \u2013 10 % of total sales, all goodwill needs to be written down.Maintain margins and keep competitive prices:The company is well connected to its suppliers and when the competition increases the suppliers is contributing by lowering their prices. However, it is not realistic to expect that the suppliers will compensate for all of the reduction in prices. The company\u2019s experience is that about 50 % of the price change is covered by the suppliers in an increased competitive situation. A price reduction of 10 % without any compensation from the suppliers is the break even level for write down of goodwill. Rated average capital cost (WACC):The company uses a WACC that is equal to risk free interest with an addition of 9.1 %). This level is evaluated on a yearly basis and a change in the WACC could affect the evaluation of the intangible assets. Risk-free interest rate is based on 10-year government bond that at the beginning of the year was 5.5%. Including risk free interest of 5.5 % the total discount rate in 2022 is set to 14.6%.Future growth:It is projected growth in sales with a variation from 3% to 2% in the budget and strategy period, and with 2% growth in the terminal value. To be able to maintain this increase it is crucial that the company handles existing product lines in an effective manner and that the company is able to identify and get distribution agreements for new product lines that create more business than lost product lines. Employee know-how:Medistim Norge has over the years built a competence within the medical device industry and distribution. It is essential that this know-how is updated and passed on to new employees.Sensitivity analysis:With the assumption used in the impairment test, the recoverable amount exceeds the carrying amount with 80,0 MNOK (\"headroom\"), and no impairment loss is recognized. Operating margin and growth is based upon historic achieved margin and sales growth. In the estimates the budget and the projections from the 3 year strategy update is used. The operating margin in the projections vary between 13.7 and 15.7 %. Sales growth vary between 3% and 2 %If the operating margin is reduced from 15.0% to 3.5% everything else equal, carrying amount would require an evaluation of impairment loss. A change in the discount rate from 14.6 % to 55.0 % everything else equal, would cause an impairment loss. See overview below.HEADROOMWACC 14,6 % 28,0 % 55,0 %Headroom in MNOK 80,0 34,6 11,9 Operating margin 15,0 % 10,0 % 3,5 %Headroom in MNOK 80,0 16,8 -5,3",
"dimensions": {
"concept": "ifrs-full:DisclosureOfIntangibleAssetsExplanatory",
"language": "en",
"entity": "scheme:5967007LIEEXZXJOX483",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"s9_notes__6__84": {
"value": "Additions under development:This is related to the development of new cardiac flow probes. The aim is to modernize design for the user to make it easier to use, but also develop a design that is more efficient to have in production. Medistim has several years of experience with in house production and input from customers on a better design on the probe for the user. With this extensive experience and knowledge it is likely that a new probe will be developed with success. In 2022 3.3 MNOK was invested in the project and book value by year end 2022 was 4.9 MNOK.The next generation of software within both cardiac segment and vascular segment was under development during 2022. The new software has a new user interface and tools to aid the interpretation of the results. Medistim\u2019s Innovation team has together with Key Opinion Leaders tested several prototypes to identify the preferred solution. In 2022 5.1 MNOK was invested in the software project and book value by year end 2022 was 5.1 MNOK.Medistim needs to be compliant with the new Medical Device Regulation (MDR) In 2022 1.9 MNOK was invested in making Medistim MDR compliant.",
"dimensions": {
"concept": "ifrs-full:DisclosureOfResearchAndDevelopmentExpenseExplanatory",
"language": "en",
"entity": "scheme:5967007LIEEXZXJOX483",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"s9_notes__6__85": {
"value": "GoodwillA yearly test of values is done for the cash flow generating units that has a goodwill value in the balance sheet. GOODWILL 2022 20211 = NOK 1000Acquisition of Medi-Stim 7 960 7 960 Norge ASAcquisition of Kir-Op AS (merged with Medistim 6 168 6 168 Norge AS in 2006)Total goodwill 14 128 14 128 A test of values is performed by estimating the cash flow for Medistim Norge AS. This is estimated using the company\u2019s budget for 2023 and 3-year strategy plan for the years 2024 to 2026 with the assumption of 2 % growth in 2026 compared to 2025. Cash flows for more than five years are estimated by using Gordon\u2019s growth formula with a 2 % growth in the terminal year. The cash flow is discounted using 14.6 % discount rate. This includes an additional yield of 9.1 % compared to risk free interest. The value of the discounted cash flow exceeded the recorded book value in the balance sheet and there was no need for a write down of goodwill.The estimates in the tests are most sensitive to changes in the following parameters:\u2022 Maintaining market share and product lines\u2022 Maintaining margins and keep competitive prices\u2022 Level of minimum return on investment\u2022 Future growth\u2022 Employee know-how",
"dimensions": {
"concept": "ifrs-full:DisclosureOfGoodwillExplanatory",
"language": "en",
"entity": "scheme:5967007LIEEXZXJOX483",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"s9_notes__6__87": {
"value": "Note 13 Shares in subsidiaries All subsidiaries are 100 % owned and Medistim has all votes. Medistim Norge AS has offices at \u00d8kern in Oslo. Medistim USA Inc has offices in Minneapolis in the USA. Medistim Deutschland GmbH has offices in Munich in Germany, Medistim Denmark has offices in Copenhagen Denmark, Medistim Spain S.L has offices in Madrid and Medistim UK has offices in London UK. None of the subsidiaries are listed at a stock exchange. SHARES IN SUBSIDIARIES1 = NOK 1000Unit Country Segment OwnershipValue 31.12.22Medistim USA Inc. USA Lease and sale within bypass surgery and 100% 135vascular surgeryMedistim Deutschland Germany Capital sales within bypass surgery and 100% 188GmbHvascular surgeryMedistim Norge AS Norway Sale of 3 party products and capital sales 100% 36 953within bypass surgery and vascular surgeryMedistim UK LTD UK Capital sales within bypass surgery and 100% 1vascular surgeryMedistim Japan KK JapanDormant company100% 86Medistim Spain S.LSpainCapital sales within bypass surgery and 100% 28vascular surgeryMedistim Danmark Aps Denmark Sale of 3 party products and capital sales 100% - Owned indirectly within bypass surgery and vascular surgerythrough Medistim Norge AS with book value of TNOK 1 103",
"dimensions": {
"concept": "ifrs-full:DisclosureOfCompositionOfGroupExplanatory",
"language": "en",
"entity": "scheme:5967007LIEEXZXJOX483",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"s9_notes__6__86": {
"value": "Note 13 Shares in subsidiaries All subsidiaries are 100 % owned and Medistim has all votes. Medistim Norge AS has offices at \u00d8kern in Oslo. Medistim USA Inc has offices in Minneapolis in the USA. Medistim Deutschland GmbH has offices in Munich in Germany, Medistim Denmark has offices in Copenhagen Denmark, Medistim Spain S.L has offices in Madrid and Medistim UK has offices in London UK. None of the subsidiaries are listed at a stock exchange. SHARES IN SUBSIDIARIES1 = NOK 1000Unit Country Segment OwnershipValue 31.12.22Medistim USA Inc. USA Lease and sale within bypass surgery and 100% 135vascular surgeryMedistim Deutschland Germany Capital sales within bypass surgery and 100% 188GmbHvascular surgeryMedistim Norge AS Norway Sale of 3 party products and capital sales 100% 36 953within bypass surgery and vascular surgeryMedistim UK LTD UK Capital sales within bypass surgery and 100% 1vascular surgeryMedistim Japan KK JapanDormant company100% 86Medistim Spain S.LSpainCapital sales within bypass surgery and 100% 28vascular surgeryMedistim Danmark Aps Denmark Sale of 3 party products and capital sales 100% - Owned indirectly within bypass surgery and vascular surgerythrough Medistim Norge AS with book value of TNOK 1 103",
"dimensions": {
"concept": "ifrs-full:DisclosureOfSignificantInvestmentsInSubsidiariesExplanatory",
"language": "en",
"entity": "scheme:5967007LIEEXZXJOX483",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"s9_notes__6__88": {
"value": "Note 14 Inventory SPECIFICATION OF INVENTORY 2022 20211 = NOK 1000Raw material 54 263 51 861Work in progress 2 467 2 139Finished goods 42 836 30 711Spare parts 9 694 7 146Third party products 12 001 12 235Inventory provision -6 928 -6 678Total 114 333 97 413Finished goods are measured at cost which includes cost for components and internal labor cost. Work in progress is valued at the total of the component cost and labor cost. The inventory level in 2022 is at a higher level than compared to 2021. It is necessary for the company to keep an additional security inventory for critical components for own developed products. Due to a strict regulatory regime within medical device it takes time to introduce new devices or components. At the same time the tendency is that electronic components life circle is shorter. For this reason inventory level is high to secure future deliveries for Medistim developed products. Inventory is used as security for loan, see note 18.SPECIFICATION OF INVENTORY PROVISION 2022 20211=NOK 1000Gross value Provision Gross value ProvisionDemonstration products 4 763 2 687 6 105 3 074 Spare parts 7 327 4 041 4 170 3 404 Third party products 200 200 200 200 Total 12 290 6 928 10 475 6 678",
"dimensions": {
"concept": "ifrs-full:DisclosureOfInventoriesExplanatory",
"language": "en",
"entity": "scheme:5967007LIEEXZXJOX483",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"s9_notes__6__89": {
"value": "Note 15 Accounts receivables and other receivablesACCOUNTS RECEIVABLE 2022 20211 = NOK 1000 2022 2021Accounts receivable 102 654 68 993 Provision for bad debt -997 -359 Total 101 657 68 634 POVISION FOR BAD DEBT 2022 20211 = NOK 1000Inbound provision 359 359 Increased provision 638 - Total 997 359 AGING ACCOUNTS RECEIVABLE1 = NOK 1000Not due 0-30 days 31 - 60 days 61 - 90 days TotalYearExpected loss in % 0,00 % 0,00 % 0,00 % 11,34 % 2022Book value of receivables 72 381 9 885 11 597 8 791 102 654 Expected credit loss - - - 997 997 Total 72 381 9 885 11 597 7 794 101 657 1 = NOK 1000Not due 0-30 days 31 - 60 days 61 - 90 days TotalExpected loss in % 0,00% 0,00% 1,00% 7,75%Year Book value of receivables 43 640 16 847 3 862 4 284 68 634 2021Expected credit loss - - 27 331 358 Total 43 640 16 847 3 835 3 953 68 275 All receivables are due within one year. Historically the group losses have been limited. End customers are often public hospitals with government funding and the risks for losses are low. However, days sales outstanding is high compared to other businesses, something that the aging receivables confirm. Receivables is used as security, see note 18. Other receivables are shown in the following table: OTHER RECEIVABLES 2022 20211 = NOK 1000Other pre-payments 4 553 6 076 Accrued income - 4 571Unrealized foreign currency 3 880 -VAT receivable 8 840 - Other (10) 312Total 17 263 10 960",
"dimensions": {
"concept": "ifrs-full:DisclosureOfTradeAndOtherReceivablesExplanatory",
"language": "en",
"entity": "scheme:5967007LIEEXZXJOX483",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"s9_notes__6__90": {
"value": "Note 16 CashCASH 2022 20211 = NOK 1000Available cash in bank 144 164 124 866Restricted cash in bank 8 477 4 624Total cash in bank 152 641 129 490Credit limit - 22 500Cash available 144 164 147 366 Restricted cash as of 31.12.2022 was 8 477 TNOK and was related to tax withheld from salaries. As of 31.12.2021 the restricted cash was 4 624 TNOK related to tax withheld on salaries. The holding company terminated the credit facility of 22.5 MNOK in 2022.",
"dimensions": {
"concept": "ifrs-full:DisclosureOfCashAndCashEquivalentsExplanatory",
"language": "en",
"entity": "scheme:5967007LIEEXZXJOX483",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"s9_notes__6__91": {
"value": "Restricted cash as of 31.12.2022 was 8 477 TNOK and was related to tax withheld from salaries. As of 31.12.2021 the restricted cash was 4 624 TNOK related to tax withheld on salaries. The holding company terminated the credit facility of 22.5 MNOK in 2022.",
"dimensions": {
"concept": "ifrs-full:DisclosureOfRestrictedCashAndCashEquivalentsExplanatory",
"language": "en",
"entity": "scheme:5967007LIEEXZXJOX483",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"s9_notes__6__93": {
"value": "Note 17 Shareholder information The company had 18.337.336 shares at par value of NOK 0.25 per share and total share capital amount to NOK 4.584.334. There is only one class of shares, and all shares are treated equally. Each share represents one vote.CHANGE IN ISSUED SHARE CAPITAL IN 2022Number of shares Par value per share Share capital in NOKShare capital 01.01.2022 18 337 336 NOK 0.25 NOK 4 548 334.00Changes - - -Share capital 31.12.2022 18 337 336 NOK 0.25 NOK 4 548 334.00The Board of Directors received by the shareholders meeting the 27th of April 2022 permission to purchase up to 1 833 733 Medistim ASA shares at par value NOK 458 433.25. The permission is valid until the next ordinary general assembly in 2023 in the price range of NOK 0.25 to NOK 400 per share. Further the Board of Directors got permission to increase share capital with NOK 458 433.25 or issue 1 833 733 new shares at par value NOK 0.25. The permission can be used if there is a decision to enter into a merger, acquire another company or to create an option program. The permission is valid until the next ordinary shareholders meeting in 2023. See below for changes in the equity for the last year.STATUS FOR THE PERMISSIONS AS OF 31.12.2022Capital increase Medistim sharesPermission given at the shareholders meeting in 2022 1 833 733 1 833 733Permissions used - -Number of shares 31.12.2022 1 833 733 1 833 733The company owned 87 033 Medistim shares as of 31.12.2022. Number of Medistim shares by 01.01.2022 was 108 422.The 20 largest shareholders in the company were as of 31 December 2022: 20 LARGEST SHAREHOLDERSShareholder Number of shares In % of total NationalityAETERNUM CAPITAL AS 1 862 500 10,16 % NorwayFL\u00d8TEMARKEN AS 1 285 000 7,01 % NorwayState Street Bank and Trust Comp 1 238 298 6,75 % United StatesVERDIPAPIRFOND ODIN NORDEN 1 200 000 6,54 % NorwayFOLLUM INVEST AS 970 000 5,29 % NorwayState Street Bank and Trust Comp 925 561 5,05 % United StatesSkandinaviska Enskilda Banken AB 905 805 4,94 % SwedenState Street Bank and Trust Comp 667 953 3,64 % United StatesODIN Small Cap 600 000 3,27 % SwedenSkandinaviska Enskilda Banken AB 526 693 2,87 % DenmarkThe Northern Trust Comp, London Br 433 545 2,36 % United StatesState Street Bank and Trust Comp 422 259 2,30 % United StatesSkandinaviska Enskilda Banken AB 414 011 2,26 % SwedenSKANDINAVISKA ENSKILDA BANKEN AB 396 843 2,16 % LuxembourgBUANES 381 876 2,08 % NorwayRBC Investor services bank S.A. 330 708 1,80 % LuxembourgSkandinaviska Enskilda Banken AB 275 048 1,50 % SwedenThe Bank of New York Mellon SA/NV 270 000 1,47 % DenmarkBNP Paribas 265 000 1,45 % FranceBNP Paribas 243 491 1,33 % FranceTotal 20 largest shareholders 13 614 591 Total number of shares outstanding 18 337 336 20 largest shareholders in % 74,25 %BOARD MEMBERS AND MANAGEMENT TEAM WITH SHARES IN THE COMPANYShareholder Number of shares In % of total PositionTove Raanes via Trane AS 1 990 0,01 % Board memberRoger Morberg 12 849 0,07 % VP salesErik Swensen 10 994 0,06 % VP developmentThomas Jakobsen 25 979 0,14 % CFOKari Eian Krogstad 63 802 0.35 % CEOSiri F\u00fcrst 2 000 0.01 % Board member\u00d8yvin A. Br\u00f8ymer (Fl\u00f8temarken AS) 1 285 000 7.01 % ChairAnne Waaler 2 440 0,01 % VP medical dep.H\u00e5kon Gr\u00f8the (Gr\u00f8ten Invest AS) 4 411 0,02% CIOMike Farbelow 1 990 0,01% President MSUS Ole J\u00f8rgen Robsrud 2 205 0,01% Adm.dir MSNTone Veiteberg 1 990 0,01% VP QA\\RegulatoryH\u00e6ge Wetterhus 663 0,004% VP MarketingLars R\u00f8nn 885 0.005 % Board memberOle Arne Eiksund 2 422 0,01% Chief Bus.Dev. OfficerThere were no share options outstanding as of 31.12.2022 except from the share program to CEO described under 8.12 Remuneration of executive personnel and note 21.",
"dimensions": {
"concept": "ifrs-full:DisclosureOfIssuedCapitalExplanatory",
"language": "en",
"entity": "scheme:5967007LIEEXZXJOX483",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"s9_notes__6__92-1": {
"value": "BOARD MEMBERS AND MANAGEMENT TEAM WITH SHARES IN THE COMPANYShareholder Number of shares In % of total PositionTove Raanes via Trane AS 1 990 0,01 % Board memberRoger Morberg 12 849 0,07 % VP salesErik Swensen 10 994 0,06 % VP developmentThomas Jakobsen 25 979 0,14 % CFOKari Eian Krogstad 63 802 0.35 % CEOSiri F\u00fcrst 2 000 0.01 % Board member\u00d8yvin A. Br\u00f8ymer (Fl\u00f8temarken AS) 1 285 000 7.01 % ChairAnne Waaler 2 440 0,01 % VP medical dep.H\u00e5kon Gr\u00f8the (Gr\u00f8ten Invest AS) 4 411 0,02% CIOMike Farbelow 1 990 0,01% President MSUS Ole J\u00f8rgen Robsrud 2 205 0,01% Adm.dir MSNTone Veiteberg 1 990 0,01% VP QA\\RegulatoryH\u00e6ge Wetterhus 663 0,004% VP MarketingLars R\u00f8nn 885 0.005 % Board memberOle Arne Eiksund 2 422 0,01% Chief Bus.Dev. OfficerThere were no share options outstanding as of 31.12.2022 except from the share program to CEO described under 8.12 Remuneration of executive personnel and note 21.Note 21 Related party transactionsCompensation to managementThe management group consists of 13 people including CEO. The managing directors in the subsidiaries are included in the management group. COMPENSATION AND BENEFITS TO THE MANAGEMENT GROUP IN 2022Share based Management Position Salary Bonus Pensioncompensation Other TotalH\u00e6ge Johanne VP Marketing 1 529 890 198 839 97 464 - 7 909 1 834 102Krogh WetterhusAnne Waaler VP Medical 1 525 816 178 571 80 424 - 10 723 1 795 534Roger Reino VP Sales 1 821 454 383 929 94 584 137 750 9 783 2 447 500 MorbergErik Swensen VP Development 1 526 290 162 500 90 864 - 4 524 1 784 178Tone Ann VP QA\\Reg 1 323 097 196 429 72 708 - 4 524 1 596 758VeitebergOle J\u00f8rgen CEO Medistim 1 435 094 240 000 91 800 50 000 8 863 1 825 757 RobsrudNorge ASHelge B\u00f8rslid VP Operations 1 417 244 73 661 84 600 - 4 524 1 580 029Ole Arne Eiksund Chief Bus.Dev. 902 297 58 208 137 750 1 101 183 OfficerH\u00e5kon Gr\u00f8the VP Innovation 1 427 634 205 357 84 900 137 750 4 530 1 860 171 Mike Farbelow President 2 233 316 800 311 89 333 - 108 583 3 231 543Medistim USACindy Kaffai CEO Medistim 1 358 834 296 778 - - 1 655 612 GermanyKari Eian CEO Medistim 3 144 358 1 205 357 101 592 4 410 000 4 527 8 865 834 KrogstadgroupThomas CFO Medistim 2 050 394 312 500 91 800 183 750 4 530 2 642 974 JakobsenGroupTotal 21 695 717 4 254 233 1 038 277 5 057 000 179 186 32 224 412There are no severance pay agreements towards any in the management team in case of leaving the company. All members of the management group have a two-way arrangement of 3 months\u2019 notice. The exception ismanagement in the US that has no notice period. The management group has the same pension plan as other employees. For Norwegian members of the management group, this is a contribution plan that covers 5 % of salary up to 7.1 G and 8 % of salary for G between 7.1 and 12. 1G equals NOK 111.477. Management in the US has a contribution plan that covers 4 % of salary. The board decides incentives to CEO. Bonus and incentives to the management group is decided by the CEO. Bonus and incentives for both management group and CEO is based on achieved results. The table shows the bonus paid in 2022. Some members of the management group has loan from the company related to the share program offered to the Management team in 2022. The below table shows who in the management teampurchased shares at a discount and has loan form the company.SHARE PROGRAM FOR THE MANAGEMENT GROUP IN 2022Financing Shares Match Total by Group purchased 25% in purchase of Number Medistim Management Positionin NOKNOKshares in NOKof sharesin NOKOle Arne Eiksund Chief Bus.Dev. 551 000 137 750 688 750 2 422 551 000 OfficerRoger Reino VP Sales 551 000 137 750 688 750 2 422 - MorbergOle J\u00f8rgen CEO Medistim 200 000 50 000 250 000 879 200 000 RobsrudNorge ASH\u00e5kon Gr\u00f8the VP Innovation 551 000 137 750 688 750 2 422 - Thomas Jakobsen CFO Medistim 735 000 183 750 918 750 3 231 735 000 GroupTotal 2 588 000 647 000 3 235 000 11 376 1 486 000 For every fourth share purchased one share was given for free with a vesting period of 3 years. The loans are at tax free rate and are due for payment when the vesting period is over. The agreements was entered the 25th of June 2022.Compensation to the board was 1 450 TNOK in 2022 and 1 300 TNOK in 2021. The Chair received 450 TNOK as compensation in 2022 and 400 TNOK in 2021 The four board members received a total 250 TNOK each as compensation in 2022, a total of 1000 TNOK. In 2021 they received 225 TNOK each, a total of 900 TNOK. The nomination committee leader received a compensation of 20 TNOK, while the two other members received 15 TNOK each. In total, the nomination committee received 50 TNOK as compensation.Compensation to Audit committee and renumeration committee was 50 TNOK and 35 TNOK respectively.CEO has an agreement with the Board that she can receive up to 28.500 Medistim shares as part of compensation if in position until 2025. The Shares is received by the CEO free of charge and last shares will be received in 2026. Fair value of the share based payment is the share price at grant date multiplied with the and number of shares granted. The fair value of the share based payment is expensed over the vesting period. In 2022, TNOK 2 475 including social security tax was expensed in the accounts related to the arrangement. See also overview below.SHARE PROGRAM CEOYear 2022 2023 2024Opening balanceExercisedShares granted 12 000 9 000 7 500 Ending balance 12 000 21 000 28 500 Share price at the time of grant in NOK 167 254 296 Total expense in NOK 2 004 000 2 286 000 2 220 000 Expense per grant per year in NOK 668 000 762 000 740 000 Annual expense in NOK for the grant in 2022 2 170 000 Transactions with related partiesThere were no other transactions towards related parties in 2021 or in 2022.",
"dimensions": {
"concept": "ifrs-full:DisclosureOfInformationAboutKeyManagementPersonnelExplanatory",
"language": "en",
"entity": "scheme:5967007LIEEXZXJOX483",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"s9_notes__6__94": {
"value": "Note 18 Long-term liabilitiesLONG-TERM LIABILITIES 2022 2021Carrying Carrying Interest rate Last due dateamountamountSecured loanLease liabilities 3-4 % 30/09/27 17 106 24 192 Deferred revenue 5 126 2 510 Total liabilities22 231 26 702Lease liabilities due within one year -7 086 -7 113Total non current liabilities 15 145 19 589The bank has collateral in property, plant and equipment, accounts receivable and inventory in the holding company and the Norwegian subsidiary. The collateral in property, plant and equipment, accounts receivables and inventory is not limited. Book value of pledged property, plant and equipment was as of 31.12.2022 30.5 MNOK, 80.2 MNOK for accounts receivables and 84.7 MNOK for inventory. The company had no interest bearing debt. The lease agreements are described under note 7.",
"dimensions": {
"concept": "ifrs-full:DisclosureOfOtherNoncurrentLiabilitiesExplanatory",
"language": "en",
"entity": "scheme:5967007LIEEXZXJOX483",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"s9_notes__6__95": {
"value": "Note 19 Other short term liabilities:OTHER LIABILITIES 2022 20211 = NOK 1000Accrual for public taxes 7 168 8 972 Accrual for holiday pay 8 511 7 140 Accrual for salaries, commission and board member fee 17 070 14 703 Accrual for customer and supplier obligations 6 354 966 Other 2 938 4 828 Total 42 042 36 609",
"dimensions": {
"concept": "ifrs-full:DisclosureOfOtherCurrentLiabilitiesExplanatory",
"language": "en",
"entity": "scheme:5967007LIEEXZXJOX483",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"s9_notes__6__97": {
"value": "Note 20 Financial Risk The group\u2019s financial liabilities are leasing agreements, and accounts payable. The financial liabilities and facilities are important instruments that contribute to the financing of the group\u2019s operational activities. The group\u2019s financial assets are accounts receivables, and cash. From time to time the group also enters into financial derivative contracts to hedge currency exposure. Hedge accounting is not applied. The risk arising from financial instruments is market risk, credit risk towards customers, and liquidity risk.Interest rate risk:The group had as of 31 December 2022 no interest bearing debt. If the group needs a loan it is group policy to have floating interest since this will be the lowest interest rate over time. In general, the group considers the exposure towards changes in interest rates as low. Foreign exchange rates risk:Change in exchange rates involves a direct and indirect financial risk for Medistim ASA. The group has revenue and expenses in EUR and USD where most revenue is in EUR and USD and expenses mostly in NOK. To neutralize net exposure derivative contracts are evaluated. The development in NOK towards USD and EUR is continuously monitored. By the end of 2022, the group had derivative contracts for USD as shown below. Hedging contracts are entered to reduce the exchange risk towards currencies. Unrealized gain or loss related to the contracts are recorded in the balance sheet and the change of value related to the contracts is recorded in the profit and loss. The management and Board of directors evaluate the handling of risks related to exchange rates fluctuations continuously together with its professional advisers.HEDGING CONTRACTSNumber of Total value of Amount per Average rate Rate Unrealized Currencycontracts from contracts in monthon contracts31.12.2022gain/lossMarch 2023currencyUSD 6 200 000 1 200 000 10,50 9,86 775 800The group had a credit facility of 6.0 MNOK to enter hedging contracts. The facility represents 10 % of the value of the contracts the group can use and the Group can enter hedging contracts for a total of 60 MNOK. Security related to the facility is related to assets, accounts receivable and inventory with no limit. Book value of secured items was as of 31.12.2022 30.5 MNOK for assets, 80.2 MNOK for accounts receivables and 84.7 MNOK for inventoryFINANCIAL ASSETS AND LIABILITIES1 = NOK 10002022 2021Original value Gain\\loss Book value Original value Gain\\loss Book valueFinancial assetsCash in USD 1 373 1 236 2 609 9 985 709 10 694Cash in EUR 9 511 -129 9 382 13 026 82 13 108Accounts receivable in EUR 44 881 530 45 411 28 364 -541 27 823Forward curency contracts - 775 775 - - - Financial debtAccounts payable in EUR 2 670 1 2 669 2 855 17 2 838Accounts payable in USD 332 3 335 207 -3 204EFFECT ON PROFIT IF CURRENCY CHANGES WITH 5%1 = NOK 1000 2022 2021Original value Gain\\loss Book value Original value Gain\\loss Book valueTotal exposure towards EUR 51 722 400 52 124 38 535 -476 38 093Total exposure towards USD 1 041 2 008 3 049 9 778 712 10 4905 % increase EUR 2 606 1 9055 % increase USD 152 5255 % decrease EUR -2 482 -1 8145 % decrease USD -145 -500Credit and liquidity risk:Other financial risk as credit risk and liquidity risk is viewed by the group as low based upon the group\u2019sfinancial position as of 31 December 2022.Credit risk:The group is at some extent exposed towards credit risk. The general risk is low since the majority ofcustomers are financed by public authorities. Still history records for payments, the size of the transaction and the other party\u2019s credit risk is evaluated from case to case. The level of credit given is evaluatedwhen there is a change in market conditions. The level of risk is reduced by using bank guaranties andprepayments in cases where the level of risk is found to be higher than normally accepted. See note 15 for a table showing the aging of accounts receivable. Liquidity risk:Liquidity risk is the risk that the group is not able to meet its obligations in time. Managing liquidity risk is therefore prioritized to secure financial flexibility. Medistim main source of cash is cash generated fromoperations. The group has over the last 5 years experienced an increase in profit and available cash.Therefore, the group has been able to build up a cash reserve due to strong profits to handle the increased need for working capital as the group grows. The liquidity buffer also secures cash in situations where the incoming cash is delayed. COVID 19 pandemic and macroeconomic turmoilSince the pandemic started to affect the Medistim business in second quarter of 2020, the effect hasbecome gradually smaller, and in the second quarter of 2021, there was a strong rebound in proceduresperformed and hence in the sales revenues. This rebound has continued throughout 2021. While Medistim has been affected by the COVID situation, the company have been able to deliver solid profit and cash flow. The need for Medistim\u2019s products has not changed, and the strong recovery seen through 2021 and thegrowth that continues in 2022, may indicate that cardiac bypass surgeries are back to normal. However,there are still some uncertainties related to new variants of the virus.The global market is facing macro-economic turmoil, with energy crisis, inflation pressure, increasinginterest rates and cost levels and uncertainty related to the Ukrainian war. The long-term consequencesof the pandemic aftermath and growing geopolitical uncertainty are unclear but might lead to continuing challenges in the global flow of goods. Medistim is taking mitigating actions to ensure access to keycomponents to secure production and maintain growth and profitability also for the future. Further, thecompany is financially solid to face future challenges, with no interest bearing debt and an equity ratio of 76.6 %.With these uncertainties the need for Medistim\u2019s products has been confirmed through the last two years growth development. Despite the pandemic, macroeconomic turmoil and the Ukrainian war, the companies solutions continue to have an increasing demand among cardiac and vascular surgeons.The table below sets out the maturity profile of the financial liabilities based on contractual undiscounted payments.OVERVIEW OF DEBT1 = NOK 1000Year 2022Within 3 months Between 3-12 months 1 to 5 years Over 5 years TotalLease liabilities 1 410 4 230 11 787 17 427 Accounts payable 24 470 - - - 24 470Deferred revenue 338 1 015 3 773 5 126 Income tax - 25 873 25 873 Other debt (see note 19 & 22) 42 072 - - - 42 071 Total 68 290 31 118 15 560 - 114 967Year 2021Within 3 months Between 3-12 months 1 to 5 years Over 5 years TotalInterest bearing loans - - - - - Lease liabilities 1 778 5 335 11 738 5 341 24 192 Accounts payable 13 205 - - - 13 205 Deferred revenue 2 510 2 510 Income tax 20 327 20 327 Other debt (see note 18,19,22) 33 815 3 143 - - 36 958 Total 48 799 28 804 14 248 5 341 97 192 Financial strategy:Management strives to strengthen the group\u2019s healthy financial position through profit and a high levelof equity. This will secure continued growth and will maximize shareholders values. The group will adjustcapital structure to adapt to changes in the financial climate. Capital structure can be adjusted throughdividend, repayment of share capital or issue new shares. There were no changes in the financial strategy in the group in 2021 or 2022.",
"dimensions": {
"concept": "ifrs-full:DisclosureOfDerivativeFinancialInstrumentsExplanatory",
"language": "en",
"entity": "scheme:5967007LIEEXZXJOX483",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"s9_notes__6__96": {
"value": "Note 20 Financial Risk The group\u2019s financial liabilities are leasing agreements, and accounts payable. The financial liabilities and facilities are important instruments that contribute to the financing of the group\u2019s operational activities. The group\u2019s financial assets are accounts receivables, and cash. From time to time the group also enters into financial derivative contracts to hedge currency exposure. Hedge accounting is not applied. The risk arising from financial instruments is market risk, credit risk towards customers, and liquidity risk.Interest rate risk:The group had as of 31 December 2022 no interest bearing debt. If the group needs a loan it is group policy to have floating interest since this will be the lowest interest rate over time. In general, the group considers the exposure towards changes in interest rates as low. Foreign exchange rates risk:Change in exchange rates involves a direct and indirect financial risk for Medistim ASA. The group has revenue and expenses in EUR and USD where most revenue is in EUR and USD and expenses mostly in NOK. To neutralize net exposure derivative contracts are evaluated. The development in NOK towards USD and EUR is continuously monitored. By the end of 2022, the group had derivative contracts for USD as shown below. Hedging contracts are entered to reduce the exchange risk towards currencies. Unrealized gain or loss related to the contracts are recorded in the balance sheet and the change of value related to the contracts is recorded in the profit and loss. The management and Board of directors evaluate the handling of risks related to exchange rates fluctuations continuously together with its professional advisers.HEDGING CONTRACTSNumber of Total value of Amount per Average rate Rate Unrealized Currencycontracts from contracts in monthon contracts31.12.2022gain/lossMarch 2023currencyUSD 6 200 000 1 200 000 10,50 9,86 775 800The group had a credit facility of 6.0 MNOK to enter hedging contracts. The facility represents 10 % of the value of the contracts the group can use and the Group can enter hedging contracts for a total of 60 MNOK. Security related to the facility is related to assets, accounts receivable and inventory with no limit. Book value of secured items was as of 31.12.2022 30.5 MNOK for assets, 80.2 MNOK for accounts receivables and 84.7 MNOK for inventoryFINANCIAL ASSETS AND LIABILITIES1 = NOK 10002022 2021Original value Gain\\loss Book value Original value Gain\\loss Book valueFinancial assetsCash in USD 1 373 1 236 2 609 9 985 709 10 694Cash in EUR 9 511 -129 9 382 13 026 82 13 108Accounts receivable in EUR 44 881 530 45 411 28 364 -541 27 823Forward curency contracts - 775 775 - - - Financial debtAccounts payable in EUR 2 670 1 2 669 2 855 17 2 838Accounts payable in USD 332 3 335 207 -3 204EFFECT ON PROFIT IF CURRENCY CHANGES WITH 5%1 = NOK 1000 2022 2021Original value Gain\\loss Book value Original value Gain\\loss Book valueTotal exposure towards EUR 51 722 400 52 124 38 535 -476 38 093Total exposure towards USD 1 041 2 008 3 049 9 778 712 10 4905 % increase EUR 2 606 1 9055 % increase USD 152 5255 % decrease EUR -2 482 -1 8145 % decrease USD -145 -500Credit and liquidity risk:Other financial risk as credit risk and liquidity risk is viewed by the group as low based upon the group\u2019sfinancial position as of 31 December 2022.Credit risk:The group is at some extent exposed towards credit risk. The general risk is low since the majority ofcustomers are financed by public authorities. Still history records for payments, the size of the transaction and the other party\u2019s credit risk is evaluated from case to case. The level of credit given is evaluatedwhen there is a change in market conditions. The level of risk is reduced by using bank guaranties andprepayments in cases where the level of risk is found to be higher than normally accepted. See note 15 for a table showing the aging of accounts receivable. Liquidity risk:Liquidity risk is the risk that the group is not able to meet its obligations in time. Managing liquidity risk is therefore prioritized to secure financial flexibility. Medistim main source of cash is cash generated fromoperations. The group has over the last 5 years experienced an increase in profit and available cash.Therefore, the group has been able to build up a cash reserve due to strong profits to handle the increased need for working capital as the group grows. The liquidity buffer also secures cash in situations where the incoming cash is delayed. COVID 19 pandemic and macroeconomic turmoilSince the pandemic started to affect the Medistim business in second quarter of 2020, the effect hasbecome gradually smaller, and in the second quarter of 2021, there was a strong rebound in proceduresperformed and hence in the sales revenues. This rebound has continued throughout 2021. While Medistim has been affected by the COVID situation, the company have been able to deliver solid profit and cash flow. The need for Medistim\u2019s products has not changed, and the strong recovery seen through 2021 and thegrowth that continues in 2022, may indicate that cardiac bypass surgeries are back to normal. However,there are still some uncertainties related to new variants of the virus.The global market is facing macro-economic turmoil, with energy crisis, inflation pressure, increasinginterest rates and cost levels and uncertainty related to the Ukrainian war. The long-term consequencesof the pandemic aftermath and growing geopolitical uncertainty are unclear but might lead to continuing challenges in the global flow of goods. Medistim is taking mitigating actions to ensure access to keycomponents to secure production and maintain growth and profitability also for the future. Further, thecompany is financially solid to face future challenges, with no interest bearing debt and an equity ratio of 76.6 %.With these uncertainties the need for Medistim\u2019s products has been confirmed through the last two years growth development. Despite the pandemic, macroeconomic turmoil and the Ukrainian war, the companies solutions continue to have an increasing demand among cardiac and vascular surgeons.The table below sets out the maturity profile of the financial liabilities based on contractual undiscounted payments.OVERVIEW OF DEBT1 = NOK 1000Year 2022Within 3 months Between 3-12 months 1 to 5 years Over 5 years TotalLease liabilities 1 410 4 230 11 787 17 427 Accounts payable 24 470 - - - 24 470Deferred revenue 338 1 015 3 773 5 126 Income tax - 25 873 25 873 Other debt (see note 19 & 22) 42 072 - - - 42 071 Total 68 290 31 118 15 560 - 114 967Year 2021Within 3 months Between 3-12 months 1 to 5 years Over 5 years TotalInterest bearing loans - - - - - Lease liabilities 1 778 5 335 11 738 5 341 24 192 Accounts payable 13 205 - - - 13 205 Deferred revenue 2 510 2 510 Income tax 20 327 20 327 Other debt (see note 18,19,22) 33 815 3 143 - - 36 958 Total 48 799 28 804 14 248 5 341 97 192 Financial strategy:Management strives to strengthen the group\u2019s healthy financial position through profit and a high levelof equity. This will secure continued growth and will maximize shareholders values. The group will adjustcapital structure to adapt to changes in the financial climate. Capital structure can be adjusted throughdividend, repayment of share capital or issue new shares. There were no changes in the financial strategy in the group in 2021 or 2022.",
"dimensions": {
"concept": "ifrs-full:DisclosureOfFinancialRiskManagementExplanatory",
"language": "en",
"entity": "scheme:5967007LIEEXZXJOX483",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"s9_notes__6__98": {
"value": "Credit risk:The group is at some extent exposed towards credit risk. The general risk is low since the majority ofcustomers are financed by public authorities. Still history records for payments, the size of the transaction and the other party\u2019s credit risk is evaluated from case to case. The level of credit given is evaluatedwhen there is a change in market conditions. The level of risk is reduced by using bank guaranties andprepayments in cases where the level of risk is found to be higher than normally accepted. See note 15 for a table showing the aging of accounts receivable.",
"dimensions": {
"concept": "ifrs-full:DisclosureOfCreditRiskExplanatory",
"language": "en",
"entity": "scheme:5967007LIEEXZXJOX483",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"s9_notes__6__99": {
"value": "Liquidity risk:Liquidity risk is the risk that the group is not able to meet its obligations in time. Managing liquidity risk is therefore prioritized to secure financial flexibility. Medistim main source of cash is cash generated fromoperations. The group has over the last 5 years experienced an increase in profit and available cash.Therefore, the group has been able to build up a cash reserve due to strong profits to handle the increased need for working capital as the group grows. The liquidity buffer also secures cash in situations where the incoming cash is delayed.",
"dimensions": {
"concept": "ifrs-full:DisclosureOfLiquidityRiskExplanatory",
"language": "en",
"entity": "scheme:5967007LIEEXZXJOX483",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"s9_notes__6__102": {
"value": "Note 21 Related party transactionsCompensation to managementThe management group consists of 13 people including CEO. The managing directors in the subsidiaries are included in the management group. COMPENSATION AND BENEFITS TO THE MANAGEMENT GROUP IN 2022Share based Management Position Salary Bonus Pensioncompensation Other TotalH\u00e6ge Johanne VP Marketing 1 529 890 198 839 97 464 - 7 909 1 834 102Krogh WetterhusAnne Waaler VP Medical 1 525 816 178 571 80 424 - 10 723 1 795 534Roger Reino VP Sales 1 821 454 383 929 94 584 137 750 9 783 2 447 500 MorbergErik Swensen VP Development 1 526 290 162 500 90 864 - 4 524 1 784 178Tone Ann VP QA\\Reg 1 323 097 196 429 72 708 - 4 524 1 596 758VeitebergOle J\u00f8rgen CEO Medistim 1 435 094 240 000 91 800 50 000 8 863 1 825 757 RobsrudNorge ASHelge B\u00f8rslid VP Operations 1 417 244 73 661 84 600 - 4 524 1 580 029Ole Arne Eiksund Chief Bus.Dev. 902 297 58 208 137 750 1 101 183 OfficerH\u00e5kon Gr\u00f8the VP Innovation 1 427 634 205 357 84 900 137 750 4 530 1 860 171 Mike Farbelow President 2 233 316 800 311 89 333 - 108 583 3 231 543Medistim USACindy Kaffai CEO Medistim 1 358 834 296 778 - - 1 655 612 GermanyKari Eian CEO Medistim 3 144 358 1 205 357 101 592 4 410 000 4 527 8 865 834 KrogstadgroupThomas CFO Medistim 2 050 394 312 500 91 800 183 750 4 530 2 642 974 JakobsenGroupTotal 21 695 717 4 254 233 1 038 277 5 057 000 179 186 32 224 412There are no severance pay agreements towards any in the management team in case of leaving the company. All members of the management group have a two-way arrangement of 3 months\u2019 notice. The exception ismanagement in the US that has no notice period. The management group has the same pension plan as other employees. For Norwegian members of the management group, this is a contribution plan that covers 5 % of salary up to 7.1 G and 8 % of salary for G between 7.1 and 12. 1G equals NOK 111.477. Management in the US has a contribution plan that covers 4 % of salary. The board decides incentives to CEO. Bonus and incentives to the management group is decided by the CEO. Bonus and incentives for both management group and CEO is based on achieved results. The table shows the bonus paid in 2022. Some members of the management group has loan from the company related to the share program offered to the Management team in 2022. The below table shows who in the management teampurchased shares at a discount and has loan form the company.SHARE PROGRAM FOR THE MANAGEMENT GROUP IN 2022Financing Shares Match Total by Group purchased 25% in purchase of Number Medistim Management Positionin NOKNOKshares in NOKof sharesin NOKOle Arne Eiksund Chief Bus.Dev. 551 000 137 750 688 750 2 422 551 000 OfficerRoger Reino VP Sales 551 000 137 750 688 750 2 422 - MorbergOle J\u00f8rgen CEO Medistim 200 000 50 000 250 000 879 200 000 RobsrudNorge ASH\u00e5kon Gr\u00f8the VP Innovation 551 000 137 750 688 750 2 422 - Thomas Jakobsen CFO Medistim 735 000 183 750 918 750 3 231 735 000 GroupTotal 2 588 000 647 000 3 235 000 11 376 1 486 000 For every fourth share purchased one share was given for free with a vesting period of 3 years. The loans are at tax free rate and are due for payment when the vesting period is over. The agreements was entered the 25th of June 2022.Compensation to the board was 1 450 TNOK in 2022 and 1 300 TNOK in 2021. The Chair received 450 TNOK as compensation in 2022 and 400 TNOK in 2021 The four board members received a total 250 TNOK each as compensation in 2022, a total of 1000 TNOK. In 2021 they received 225 TNOK each, a total of 900 TNOK. The nomination committee leader received a compensation of 20 TNOK, while the two other members received 15 TNOK each. In total, the nomination committee received 50 TNOK as compensation.Compensation to Audit committee and renumeration committee was 50 TNOK and 35 TNOK respectively.CEO has an agreement with the Board that she can receive up to 28.500 Medistim shares as part of compensation if in position until 2025. The Shares is received by the CEO free of charge and last shares will be received in 2026. Fair value of the share based payment is the share price at grant date multiplied with the and number of shares granted. The fair value of the share based payment is expensed over the vesting period. In 2022, TNOK 2 475 including social security tax was expensed in the accounts related to the arrangement. See also overview below.SHARE PROGRAM CEOYear 2022 2023 2024Opening balanceExercisedShares granted 12 000 9 000 7 500 Ending balance 12 000 21 000 28 500 Share price at the time of grant in NOK 167 254 296 Total expense in NOK 2 004 000 2 286 000 2 220 000 Expense per grant per year in NOK 668 000 762 000 740 000 Annual expense in NOK for the grant in 2022 2 170 000 Transactions with related partiesThere were no other transactions towards related parties in 2021 or in 2022.",
"dimensions": {
"concept": "ifrs-full:DisclosureOfSharebasedPaymentArrangementsExplanatory",
"language": "en",
"entity": "scheme:5967007LIEEXZXJOX483",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"s9_notes__6__100": {
"value": "Note 21 Related party transactionsCompensation to managementThe management group consists of 13 people including CEO. The managing directors in the subsidiaries are included in the management group. COMPENSATION AND BENEFITS TO THE MANAGEMENT GROUP IN 2022Share based Management Position Salary Bonus Pensioncompensation Other TotalH\u00e6ge Johanne VP Marketing 1 529 890 198 839 97 464 - 7 909 1 834 102Krogh WetterhusAnne Waaler VP Medical 1 525 816 178 571 80 424 - 10 723 1 795 534Roger Reino VP Sales 1 821 454 383 929 94 584 137 750 9 783 2 447 500 MorbergErik Swensen VP Development 1 526 290 162 500 90 864 - 4 524 1 784 178Tone Ann VP QA\\Reg 1 323 097 196 429 72 708 - 4 524 1 596 758VeitebergOle J\u00f8rgen CEO Medistim 1 435 094 240 000 91 800 50 000 8 863 1 825 757 RobsrudNorge ASHelge B\u00f8rslid VP Operations 1 417 244 73 661 84 600 - 4 524 1 580 029Ole Arne Eiksund Chief Bus.Dev. 902 297 58 208 137 750 1 101 183 OfficerH\u00e5kon Gr\u00f8the VP Innovation 1 427 634 205 357 84 900 137 750 4 530 1 860 171 Mike Farbelow President 2 233 316 800 311 89 333 - 108 583 3 231 543Medistim USACindy Kaffai CEO Medistim 1 358 834 296 778 - - 1 655 612 GermanyKari Eian CEO Medistim 3 144 358 1 205 357 101 592 4 410 000 4 527 8 865 834 KrogstadgroupThomas CFO Medistim 2 050 394 312 500 91 800 183 750 4 530 2 642 974 JakobsenGroupTotal 21 695 717 4 254 233 1 038 277 5 057 000 179 186 32 224 412There are no severance pay agreements towards any in the management team in case of leaving the company. All members of the management group have a two-way arrangement of 3 months\u2019 notice. The exception ismanagement in the US that has no notice period. The management group has the same pension plan as other employees. For Norwegian members of the management group, this is a contribution plan that covers 5 % of salary up to 7.1 G and 8 % of salary for G between 7.1 and 12. 1G equals NOK 111.477. Management in the US has a contribution plan that covers 4 % of salary. The board decides incentives to CEO. Bonus and incentives to the management group is decided by the CEO. Bonus and incentives for both management group and CEO is based on achieved results. The table shows the bonus paid in 2022. Some members of the management group has loan from the company related to the share program offered to the Management team in 2022. The below table shows who in the management teampurchased shares at a discount and has loan form the company.SHARE PROGRAM FOR THE MANAGEMENT GROUP IN 2022Financing Shares Match Total by Group purchased 25% in purchase of Number Medistim Management Positionin NOKNOKshares in NOKof sharesin NOKOle Arne Eiksund Chief Bus.Dev. 551 000 137 750 688 750 2 422 551 000 OfficerRoger Reino VP Sales 551 000 137 750 688 750 2 422 - MorbergOle J\u00f8rgen CEO Medistim 200 000 50 000 250 000 879 200 000 RobsrudNorge ASH\u00e5kon Gr\u00f8the VP Innovation 551 000 137 750 688 750 2 422 - Thomas Jakobsen CFO Medistim 735 000 183 750 918 750 3 231 735 000 GroupTotal 2 588 000 647 000 3 235 000 11 376 1 486 000 For every fourth share purchased one share was given for free with a vesting period of 3 years. The loans are at tax free rate and are due for payment when the vesting period is over. The agreements was entered the 25th of June 2022.Compensation to the board was 1 450 TNOK in 2022 and 1 300 TNOK in 2021. The Chair received 450 TNOK as compensation in 2022 and 400 TNOK in 2021 The four board members received a total 250 TNOK each as compensation in 2022, a total of 1000 TNOK. In 2021 they received 225 TNOK each, a total of 900 TNOK. The nomination committee leader received a compensation of 20 TNOK, while the two other members received 15 TNOK each. In total, the nomination committee received 50 TNOK as compensation.Compensation to Audit committee and renumeration committee was 50 TNOK and 35 TNOK respectively.CEO has an agreement with the Board that she can receive up to 28.500 Medistim shares as part of compensation if in position until 2025. The Shares is received by the CEO free of charge and last shares will be received in 2026. Fair value of the share based payment is the share price at grant date multiplied with the and number of shares granted. The fair value of the share based payment is expensed over the vesting period. In 2022, TNOK 2 475 including social security tax was expensed in the accounts related to the arrangement. See also overview below.SHARE PROGRAM CEOYear 2022 2023 2024Opening balanceExercisedShares granted 12 000 9 000 7 500 Ending balance 12 000 21 000 28 500 Share price at the time of grant in NOK 167 254 296 Total expense in NOK 2 004 000 2 286 000 2 220 000 Expense per grant per year in NOK 668 000 762 000 740 000 Annual expense in NOK for the grant in 2022 2 170 000 Transactions with related partiesThere were no other transactions towards related parties in 2021 or in 2022.",
"dimensions": {
"concept": "ifrs-full:DisclosureOfRelatedPartyExplanatory",
"language": "en",
"entity": "scheme:5967007LIEEXZXJOX483",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"s9_notes__6__103": {
"value": "Note 22 Provisions PROVISIONS 2022 20211 = NOK 1000Warranty provision 350 350Sum 350 350",
"dimensions": {
"concept": "ifrs-full:DisclosureOfProvisionsExplanatory",
"language": "en",
"entity": "scheme:5967007LIEEXZXJOX483",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"s9_notes__6__104": {
"value": "Note 23 Exchange rates foreign currency EXCHANGE RATES FOREIGN CURRENCYCurrency Rate 01.01.2022 Average rate Rate 31.12.2022USD 8.8194 9.6245 9.8573DKK 134.32 135.81 141.38EUR 9.9888 10.1040 9.9888GBP 11.8875 11.8176 10.5138",
"dimensions": {
"concept": "ifrs-full:DisclosureOfEffectOfChangesInForeignExchangeRatesExplanatory",
"language": "en",
"entity": "scheme:5967007LIEEXZXJOX483",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"s9_notes__6__106": {
"value": "Note 24 Changes in liabilities arising from financial activitiesCHANGES IN LIABILITIES ARISING FROM FINANCIAL ACTIVITIESDeferred revenue Total Interest and interest Lease Lease bearing short bearing long term agreements agreements 20221 = NOK 1000term debtdebtshort termlong termAt 1st of January 2022 - 2 510 7 114 17 078 26 701Cash flows lease agreements - - -7 312 - -7 312Debt becomming current in 2022 - - 7 284 -7 058 226Effects of foreign exchange - - - - -Deferred revenue - 2 616 - - 2 616 31.December 2022- 5 126 7 086 10 020 22 232Deferred revenue Interest and interest Lease Lease Total bearing short bearing long term agreements agreements 20211 = NOK 1000term debtdebtshort termlong termAt 1st of January 20213 000 7 845 6 881 21 651 39 377Debt forgiveness - -5 348 - - -5 348New lease agreements - - - 3 412 3 412Interest bearing debt -3 000 -1 500 - - -4 500Cash flows lease agreements - - -7 502 - -7 155Debt becoming current in 2021 - 0 7 754 -7 985 -578Effects of foreign exchange - - -19 - -19Deferred revenue - 1 513 - - 1 513 31.December 20210 2 510 7 114 17 078 26 701",
"dimensions": {
"concept": "ifrs-full:DisclosureOfAccruedExpensesAndOtherLiabilitiesExplanatory",
"language": "en",
"entity": "scheme:5967007LIEEXZXJOX483",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"s9_notes__6__105": {
"value": "Note 24 Changes in liabilities arising from financial activitiesCHANGES IN LIABILITIES ARISING FROM FINANCIAL ACTIVITIESDeferred revenue Total Interest and interest Lease Lease bearing short bearing long term agreements agreements 20221 = NOK 1000term debtdebtshort termlong termAt 1st of January 2022 - 2 510 7 114 17 078 26 701Cash flows lease agreements - - -7 312 - -7 312Debt becomming current in 2022 - - 7 284 -7 058 226Effects of foreign exchange - - - - -Deferred revenue - 2 616 - - 2 616 31.December 2022- 5 126 7 086 10 020 22 232Deferred revenue Interest and interest Lease Lease Total bearing short bearing long term agreements agreements 20211 = NOK 1000term debtdebtshort termlong termAt 1st of January 20213 000 7 845 6 881 21 651 39 377Debt forgiveness - -5 348 - - -5 348New lease agreements - - - 3 412 3 412Interest bearing debt -3 000 -1 500 - - -4 500Cash flows lease agreements - - -7 502 - -7 155Debt becoming current in 2021 - 0 7 754 -7 985 -578Effects of foreign exchange - - -19 - -19Deferred revenue - 1 513 - - 1 513 31.December 20210 2 510 7 114 17 078 26 701",
"dimensions": {
"concept": "ifrs-full:DisclosureOfOtherLiabilitiesExplanatory",
"language": "en",
"entity": "scheme:5967007LIEEXZXJOX483",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
}
}
}