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"s8_notes__6__16": {
"value": "1. Corporate informationThese consolidated financial statements of Norconsult ASA (\u201cthe Company\u201d) and subsidiaries (collectively \u201cthe Group\u201d or \u201cNorconsult\u201d) for the year ended 31 December 2023 were authorized for issue by the Board of directors in their meeting on 17 April 2024 and forwarded for approval at the annual general meeting on 13 May 2024.Norconsult ASA (formerly Norconsult Holding AS) is a public limited liability company (\u201cASA\u201d) registered and domiciled in Norway. The Group was listed on the Oslo Stock Exchange on 10 November 2023. The registered office is located at Vestfjordgaten 4, 1338 Sandvika, Norway. The Group is principally engaged in the provision of planning and consultancy services for all phases of social planning, engineering design and architecture projects. The Group also develops and distributes complete IT solutions for project, building and facility management for infrastructure and property, and has also a staffing company with engineers and technical specialists for hire. Information on the Group\u2019s structure is provided in Note 23.",
"dimensions": {
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"language": "en",
"entity": "scheme:635400VFBLRSFRXLGQ03",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"s8_notes__6__15": {
"value": "1. Corporate informationThese consolidated financial statements of Norconsult ASA (\u201cthe Company\u201d) and subsidiaries (collectively \u201cthe Group\u201d or \u201cNorconsult\u201d) for the year ended 31 December 2023 were authorized for issue by the Board of directors in their meeting on 17 April 2024 and forwarded for approval at the annual general meeting on 13 May 2024.Norconsult ASA (formerly Norconsult Holding AS) is a public limited liability company (\u201cASA\u201d) registered and domiciled in Norway. The Group was listed on the Oslo Stock Exchange on 10 November 2023. The registered office is located at Vestfjordgaten 4, 1338 Sandvika, Norway. The Group is principally engaged in the provision of planning and consultancy services for all phases of social planning, engineering design and architecture projects. The Group also develops and distributes complete IT solutions for project, building and facility management for infrastructure and property, and has also a staffing company with engineers and technical specialists for hire. Information on the Group\u2019s structure is provided in Note 23.",
"dimensions": {
"concept": "ifrs-full:DisclosureOfGeneralInformationAboutFinancialStatementsExplanatory",
"language": "en",
"entity": "scheme:635400VFBLRSFRXLGQ03",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"s8_notes__6__7": {
"value": "Norconsult ASA",
"dimensions": {
"concept": "ifrs-full:NameOfUltimateParentOfGroup",
"language": "en",
"entity": "scheme:635400VFBLRSFRXLGQ03",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"s8_notes__6__6": {
"value": "Norconsult ASA",
"dimensions": {
"concept": "ifrs-full:NameOfParentEntity",
"language": "en",
"entity": "scheme:635400VFBLRSFRXLGQ03",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"s8_notes__6__5": {
"value": "Norconsult ASA",
"dimensions": {
"concept": "ifrs-full:NameOfReportingEntityOrOtherMeansOfIdentification",
"language": "en",
"entity": "scheme:635400VFBLRSFRXLGQ03",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"s8_notes__6__8": {
"value": "Norconsult ASA (formerly Norconsult Holding AS)",
"dimensions": {
"concept": "ifrs-full:ExplanationOfChangeInNameOfReportingEntityOrOtherMeansOfIdentificationFromEndOfPrecedingReportingPeriod",
"language": "en",
"entity": "scheme:635400VFBLRSFRXLGQ03",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"s8_notes__6__13": {
"value": "public limited liability company (\u201cASA\u201d)",
"dimensions": {
"concept": "ifrs-full:LegalFormOfEntity",
"language": "en",
"entity": "scheme:635400VFBLRSFRXLGQ03",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"s8_notes__6__11": {
"value": "Norway",
"dimensions": {
"concept": "ifrs-full:PrincipalPlaceOfBusiness",
"language": "en",
"entity": "scheme:635400VFBLRSFRXLGQ03",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"s8_notes__6__10": {
"value": "Norway",
"dimensions": {
"concept": "ifrs-full:DomicileOfEntity",
"language": "en",
"entity": "scheme:635400VFBLRSFRXLGQ03",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"s8_notes__6__9": {
"value": "Norway",
"dimensions": {
"concept": "ifrs-full:CountryOfIncorporation",
"language": "en",
"entity": "scheme:635400VFBLRSFRXLGQ03",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"s8_notes__6__12": {
"value": "Vestfjordgaten 4, 1338 Sandvika, Norway",
"dimensions": {
"concept": "ifrs-full:AddressOfRegisteredOfficeOfEntity",
"language": "en",
"entity": "scheme:635400VFBLRSFRXLGQ03",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"s8_notes__6__14": {
"value": "The Group is principally engaged in the provision of planning and consultancy services for all phases of social planning, engineering design and architecture projects. The Group also develops and distributes complete IT solutions for project, building and facility management for infrastructure and property, and has also a staffing company with engineers and technical specialists for hire.",
"dimensions": {
"concept": "ifrs-full:DescriptionOfNatureOfEntitysOperationsAndPrincipalActivities",
"language": "en",
"entity": "scheme:635400VFBLRSFRXLGQ03",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"s8_notes__6__17": {
"value": "2. Significant accounting policies2.1 Basis of preparation The consolidated financial statements of the Group have been prepared in accordance with International Financial Reporting Standards (IFRS\u00ae Accounting Standards) as adopted by the EU.The consolidated financial statements have been prepared on a historical cost basis, except for certain financial investments and contingent considerations assumed in connection with business combinations that have been measured at fair value. The consolidated financial statements are presented in Norwegian Kroner (\u201cNOK\u201d) and all values are rounded to the nearest NOK million, except when otherwise indicated. Due to rounding, the numbers in one or more lines or columns in the consolidated financial statements may not be summarized to the total in the line or column. The Group has prepared the consolidated financial statements on the basis that it will continue to operate as a going concern.2.2 New and amended standards and interpretationsThe Group applied for the first-time certain standards and amendments, which are effective for annual periods beginning on or after 1 January 2023 (unless otherwise stated). The Group has not early adopted any other standard, interpretation or amendment that has been issued but is not yet effective.IFRS standards implemented with the effect from 1 January 2023The amendments to IAS 1 and IFRS Practice Statement 2 Making Materiality Judgements provide guidance and examples to help entities apply materiality judgements to accounting policy disclosures. The amendments have had an impact on the Group\u2019s disclosures of accounting policies, but not on the measurement, recognition or presentation of any items in the Group\u2019s financial statements. Amendments to the standards IAS 8 and other amendments to IAS 1 have been implemented in the preparation of the consolidated financial statements. Implementation of these changes has not had any significant effect on the Group\u2019s financial statements. There are no standards or interpretations that are not yet effective that would be expected to have a material impact on the Group\u2019s consolidated statement.2.3 Basis of consolidationThe consolidated financial statements comprise the financial statements of the Company and its subsidiaries as at 31 December 2023. Non-controlling interests are insignificant.Subsidiaries are consolidated from the point in time when control is transferred to the Group and eliminated from consolidation when control ends. If the Group loses control over a subsidiary, it derecognises the related assets (including goodwill) and liabilities, while any resulting gain or loss is recognised in profit or loss together with cumulative translation differences.All internal transactions, unsettled balances and unrealized gains between Group companies are eliminated. Unrealized losses are also eliminated unless the transaction establishes an impairment for the transferred asset.2.4 Joint arrangements and investment in associates Investments in associated companies and joint ventures are accounted for using the equity method. The Group accounts for its investment in joint operations by recognising its relative share of the investee\u2019s assets liabilities, revenues and expenses. The Group currently has no joint arrangements or investments in associates that are considered material to the consolidated accounts. 2.5 Foreign currenciesThe consolidated accounts are presented in Norwegian kroner (NOK), which is the functional and presentation currency of the parent company. Transactions involving foreign currencies are translated into the functional currency using the exchange rates that are in effect at the time of the transactions. When consolidating the accounts of foreign subsidiaries, the income statement is translated into the presentation currency according to average exchange rates per month. 2.6 Current versus non-current classificationThe Group presents assets and liabilities in the statement of financial position based on current/ non-current classification. 2.7 Impairment of non-financial assetsThe Group assesses at each reporting date whether there is an indication that an asset may be impaired. If any indication exists, the Group estimates the asset\u2019s recoverable amount. Goodwill is tested for impairment annually. The Group does not have other intangible assets with indefinite useful lives. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset. The Group bases its impairment calculation on most recent budgets and forecast calculations, which are prepared separately for each of the Group\u2019s CGUs to which the individual assets are allocated. These budgets and forecast calculations generally cover a period of three years. A long-term growth rate is calculated and applied to project future cash flows after the third year. 2.8 Statement of cash flowsThe statement of cash flows is prepared using the indirect method. Acquisitions of subsidiaries are presented as investing activities net of cash in target. Interest paid is presented as part of financing activities. Interest received is presented as a part of investing activities.Accounting policyThe Group has current and non-current financial assets in the form of investments in equity and bond funds. These assets are classified and subsequently measured at fair value through profit or loss. The Group\u2019s other financial assets are classified and measured at amortised cost as they are held within a business model to collect contractual cash flows. These assets are contract assets, trade receivables, current and non-current other receivables and cash and cash equivalents. Impairment of these financial assets are recognised as a loss allowance based on lifetime ECLs at each reporting date. The economic downturn seen in 2023 has been considered when recognising loss allowance ECLs.Financial liabilities in the form of trade payables, contract liabilities and other current and non-current liabilities are recognised at fair value and subsequently measured at amortised cost.The Group is exposed to financial risks related to fluctuations in cash flow due in particular to changes in credit risk, exchange rates and interest rates.Accounting policyBusiness combinations are accounted for using the acquisition method. For each business combination, the Group chooses whether to measure any non-controlling interests in the acquiree at fair value or at the proportionate share of the acquiree\u2019s identifiable net assets. The Group does not have material non-controlling interests neither in 2023 nor 2022. Any contingent consideration to be transferred by the acquirer is recognised at fair value at the acquisition date. If the contingent consideration is classified as an equity instrument it is not remeasured and settlement is recognised in equity. Otherwise, the fair value of contingent consideration is remeasured at each reporting date and any change is recognised in profit and loss. After initial recognition, goodwill is measured at cost less any accumulated impairment losses. For the purpose of impairment testing goodwill that is acquired in a business combination is allocated to each of the Group\u2019s cash-generating units that are expected to benefit from the combination. Goodwill allocated to foreign cash-generating units are denominated in foreign currency and is subject to change due to variation in currency rates.For acquisitions carried out before 1 January 2021 goodwill is recognised at acquisition cost less accumulated impairment in accordance with the previously applied Norwegian accounting policies.Accounting policyThe Group\u2019s main business is providing consultancy services in all phases of a project in areas such as transport, buildings, architecture, renewable energy, industry, water, planning, environment and digitalization. In addition, the Group has revenue from the sale of licenses and software services within its Digital segment and revenue from staffing services and specialists for hire in Technogarden.Consultancy servicesThe Group typically identifies one performance obligation in its consultancy agreements with its customers, as all activities are considered inputs to the final deliverables to its customers (i.e., the deliverables represent a combined output). Revenue is typically recognised over time, as the entity\u2019s performance depending on project type is either simultaneously received or consumed by the entity or does not create an asset with an alternative use to the entity, and the entity has an enforceable right to payment for performance completed to date. The method for measuring progress used by the Group is based on the costs incurred over total expected costs (\u2018percentage of completion method\u2019). Under this method, total expected costs are estimated recurrently, to reflect the best estimate based on the time to be spent in the projects. Contracts are typically subject to variable consideration in the form based on changes in scope under time and material agreements, bonuses, and penalties. Revenue is recognised by the Group when it is highly probable that a significant reversal will not occur. Variable consideration estimation is typically based on the most likely amount method. Typically, clients are invoiced monthly and payment terms are usually within 30 days from the date the invoice has been sent. It is frequent that contracts are modified after inception (change orders and options within contracts), with corresponding changes in pricing and scope of the projects. Usually, these changes are not accounted for as a separate contract, as they are considered to be part of the same performance obligation. Therefore, the effect of the contract modification is shown as an adjustment to revenue at the date of the contract modification. The Group does not sell service-type warranties for its customers. Warranties cannot be purchased separately by the customers, and the Group is not providing a service in addition to the assurance offered under the contract. When the unavoidable costs of fulfilling its performance obligations exceed the economic benefits expected to be received under a contract, the Group recognises an onerous contact provision, typically for the cost of fulfilling the contract. These costs comprise the incremental costs of fulfilling the contract and an allocation of other costs that relate directly to fulfilling the contract. Contract asset and liabilitiesThe sum of project revenue less progress billings is calculated for each project. Contracts where this amount is positive are presented as contract assets, and contracts where the amount is negative are presented as contract liabilities.Software servicesThe Group offers software services to its clients. These services range from sales of on-premise software to software-as-a-service. Contracts typically include maintenance agreements, which grants the users with post-contract support such as client support; unspecified software updates, recurrent updates to the data included in the systems, etc. Together with these services, the Group also provides its customers with installation services, integration, and training. Each of the services above is considered a separate performance obligation and revenues are recognised over time. In the case of the software services and post-contract support, these are recognised linearly over the subscription period. Additional services such as installation, integration and training are recognised over time based on the percentage-of-completion, however these services do not typically take more than a month to be completed (although it can vary from contract to contract), as they are considered separate performance obligations from the software services. Transaction price is not typically subject to significant variability, and payment typically made 30 days or less after invoices are sent to the customers.Accounting policySegments are reported in the same manner as the internal financial reporting to the Group\u2019s chief operating decision-maker, defined as the CEO. The internal financial reporting follows current IFRS standards as described in these notes to the Group accounts. Transactions between operating segments are recorded on an arm\u2019s length basis similar to transactions with third parties.Accounting policyThe Group has certain share-based payment programs for executives and employees. The programs are assessed to be equity-settled and the cost of the transactions is determined by the fair value at the date when the grant is made using an appropriate valuation model. The calculated cost is recognised in employee benefits expense, together with a corresponding increase in equity (other paid-in capital), over the period in which the service and, where applicable, the performance conditions, are fulfilled. The cumulative expense recognised for equity-settled transactions at each reporting date until the vesting date reflects the extent to which the vesting period has expired and the Group\u2019s best estimate of the number of equity instruments that will ultimately vest.Accounting policyThe Group\u2019s intangible assets excluding goodwill are customer relations and contracts acquired in business combinations, licenses and software. Intangible assets acquired separately are measured on initial recognition at cost. The cost of intangible assets acquired in a business combination is their fair value at the date of acquisition. Following initial recognition, intangible assets are carried at cost less any accumulated amortisation and accumulated impairment losses. Internally generated intangibles, excluding capitalised development costs, are not capitalised and the related expenditure is reflected in profit or loss in the period in which the expenditure is incurred.The useful lives of intangible assets are assessed as either finite or indefinite. Intangible assets with finite lives are amortised over the useful economic life and assessed for impairment whenever there is an indication that the intangible asset may be impaired. The amortisation period and the amortisation method for an intangible asset with a finite useful life are reviewed at least at the end of each reporting period. Changes in the expected useful life or the expected pattern of consumption of future economic benefits from the asset are considered to modify the amortisation period or method, as appropriate, and are treated as changes in accounting estimates. Intangible assets with indefinite useful lives are not amortised, but are tested for impairment annually, either individually or at the cash-generating unit level. Amortisation is performed on a straight-line basis over the estimated useful lives of the intangible asset:Licenses and software 5-10 yearsCustomer relations 5-10 yearsCustomer contracts 1 - 2 yearsAccounting policyThe Group\u2019s main items of property, plant and equipment are leasehold improvements, fixtures and furniture and office machinery. The Group leases all office buildings, see note 12. Plant and equipment are stated at cost, net of accumulated depreciation and accumulated impairment losses, if any. Cost includes costs that are directly attributable to the acquisition of the asset. Estimated useful lives are as follows:Fixtures, fittings, and office equipment 3-10 yearsAccounting policyThe Group leases all office buildings. Leases are also generally used for IT equipment, office machines, motor vehicles and to some extent mobile phones.Leases are recognised as a right-of-use assets and a corresponding liability at the commencement date of the lease (i.e., the date the underlying asset is available for use). Each lease payment is allocated between the liability and finance cost. The finance costs are charged to profit over the lease period based on the remaining balance of the liability for each period. Right-of-use assets are recognised at cost less depreciation and impairment loss. Assets are depreciated on a straight-line basis over the shorter of the lease term and the estimated useful lives of the assets, as follows: Office buildings: 1 to 17 yearsIT equipment: 1 to 6 yearsMotor vehicles and other equipment: 1 to 9 yearsIf ownership of the leased asset transfers to the Group at the end of the lease term or the cost reflects the exercise of a purchase option, depreciation is calculated using the estimated useful life of the asset. The right-of-use assets are also subject to impairment. The lease liabilities include the net present value of lease payments to be made over the lease term. The lease payments include fixed payments less any lease incentives receivable, variable lease payments that depend on an index or a rate, and amounts expected to be paid under residual value guarantees. Several of the Group\u2019s leases include options for renewal of the leases. Options that are reasonably certain to be exercised, considering office size and growth, potential for relocation with other Norconsult offices, rent level and location of the office relative to alternative locations in the relevant area are included in lease payments. Lease options for long-term contracts, mainly over 3-4 years, are not taken into account as there are constant changes to the Group and it is difficult to assess the probability of future renewals. In calculating the present value of lease payments, the Group uses its incremental borrowing rate at the lease commencement date because the interest rate implicit in the lease is not readily determinable. After the commencement date, the amount of lease liabilities is increased to reflect the accretion of interest and reduced for the lease payments made. In addition, the carrying amount of lease liabilities is remeasured if there is a modification, a change in the lease term, a change in the lease payments or a change in the assessment of an option to purchase the underlying asset. The Group applies the short-term lease recognition exemption to its short-term leases of certain office locations, smaller machinery and equipment (i.e., those leases that have a lease term of 12 months or less from the commencement date and do not contain a purchase option). It also applies the lease of low-value assets recognition exemption to leases of office equipment that are considered to be low value. Lease payments on short-term leases and leases of low-value assets are recognised as expense on a straight-line basis over the lease term.Accounting policyCurrent income tax assets and liabilities are measured at the amount expected to be recovered from or paid to the taxation authorities. The tax rates and tax laws used to compute the amount are those that are enacted or substantively enacted at the reporting date in the countries where the Group operates and generates taxable income. Deferred tax is provided using the liability method on temporary differences between the tax bases of assets and liabilities and their carrying amounts for financial reporting purposes at the reporting date. Deferred tax liabilities and assets are recognised for all taxable temporary differences between carrying amount and their respective tax bases. Deferred tax liabilities or deferred tax assets are not recognised for the initial recognition of goodwill.Deferred tax assets are recognised to the extent that it is probable that taxable profit will be available against which the deductible temporary differences, and the carry forward of unused tax credits and unused tax losses can be utilized.The carrying amount of deferred tax assets is reviewed at each reporting date and reduced to the extent that it is no longer probable that sufficient taxable profit will be available to allow all or part of the deferred tax asset to be utilized. Unrecognised deferred tax assets are reassessed at each reporting date. Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the year when the asset is realized or the liability is settled, based on tax rates (and tax laws) that have been enacted or substantively enacted at the reporting date.The Group offsets deferred tax assets and deferred tax liabilities if and only if it has a legally enforceable right to set off current tax assets and current tax liabilities. The Group has applied the mandatory exception to recognising and disclosing information about deferred tax assets and liabilities arising from Pillar Two income taxes. Furthermore, the Group has reviewed its corporate structure in light of the introduction of Pillar Two Model Rules in various jurisdictions. Since the Group\u2019s effective tax rate is above 15% in all jurisdictions in which it operates, it has determined that it is not subject to Pillar Two \u201ctop-up\u201d taxes. Therefore, the consolidated financial statements do not include information required by paragraphs 88A-88D of IAS 12.Accounting policyCash and cash equivalents in the statement of financial position comprise cash in banks and on hand and short-term highly liquid deposits with a maturity of three months or less, that are readily convertible to a known amount of cash and subject to an insignificant risk of changes in value. For the purpose of the consolidated statement of cash flows, cash and cash equivalents consist of cash and short-term deposits, as defined above. The Group\u2019s investment of excess cash in bond funds is not classified as cash.Accounting policyOwn equity instruments that are reacquired (treasury shares) are recognised at cost and deducted from equity. No gain or loss is recognised in profit or loss on the purchase, sale, issue or cancellation of the Group\u2019s own equity instruments. Any difference between the carrying amount and the consideration, if reissued, is recognised in retained earnings.Accounting policiesProvisions are recognised when the Group has a present obligation as a result of a past event, it is probable that an outflow of resources embodying economic benefits will be required to settle the obligation and a reliable estimate can be made of the amount of the obligation. If the effect of the time value of money is material, provisions are discounted using a current pre-tax rate that reflects, when appropriate, the risks specific to the liability. When discounting is used, the increase in the provision due to the passage of time is recognised as a finance cost.",
"dimensions": {
"concept": "ifrs-full:DisclosureOfSummaryOfSignificantAccountingPoliciesExplanatory",
"language": "en",
"entity": "scheme:635400VFBLRSFRXLGQ03",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"s8_notes__6__20": {
"value": "2.1 Basis of preparation The consolidated financial statements of the Group have been prepared in accordance with International Financial Reporting Standards (IFRS\u00ae Accounting Standards) as adopted by the EU.The consolidated financial statements have been prepared on a historical cost basis, except for certain financial investments and contingent considerations assumed in connection with business combinations that have been measured at fair value. The consolidated financial statements are presented in Norwegian Kroner (\u201cNOK\u201d) and all values are rounded to the nearest NOK million, except when otherwise indicated. Due to rounding, the numbers in one or more lines or columns in the consolidated financial statements may not be summarized to the total in the line or column. The Group has prepared the consolidated financial statements on the basis that it will continue to operate as a going concern.",
"dimensions": {
"concept": "ifrs-full:StatementOfIFRSCompliance",
"language": "en",
"entity": "scheme:635400VFBLRSFRXLGQ03",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"s8_notes__6__19": {
"value": "2.1 Basis of preparation The consolidated financial statements of the Group have been prepared in accordance with International Financial Reporting Standards (IFRS\u00ae Accounting Standards) as adopted by the EU.The consolidated financial statements have been prepared on a historical cost basis, except for certain financial investments and contingent considerations assumed in connection with business combinations that have been measured at fair value. The consolidated financial statements are presented in Norwegian Kroner (\u201cNOK\u201d) and all values are rounded to the nearest NOK million, except when otherwise indicated. Due to rounding, the numbers in one or more lines or columns in the consolidated financial statements may not be summarized to the total in the line or column. The Group has prepared the consolidated financial statements on the basis that it will continue to operate as a going concern.",
"dimensions": {
"concept": "ifrs-full:DisclosureOfBasisOfPreparationOfFinancialStatementsExplanatory",
"language": "en",
"entity": "scheme:635400VFBLRSFRXLGQ03",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"s8_notes__6__21": {
"value": "The Group has prepared the consolidated financial statements on the basis that it will continue to operate as a going concern.",
"dimensions": {
"concept": "ifrs-full:DisclosureOfGoingConcernExplanatory",
"language": "en",
"entity": "scheme:635400VFBLRSFRXLGQ03",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"s8_notes__6__22": {
"value": "2.2 New and amended standards and interpretationsThe Group applied for the first-time certain standards and amendments, which are effective for annual periods beginning on or after 1 January 2023 (unless otherwise stated). The Group has not early adopted any other standard, interpretation or amendment that has been issued but is not yet effective.IFRS standards implemented with the effect from 1 January 2023The amendments to IAS 1 and IFRS Practice Statement 2 Making Materiality Judgements provide guidance and examples to help entities apply materiality judgements to accounting policy disclosures. The amendments have had an impact on the Group\u2019s disclosures of accounting policies, but not on the measurement, recognition or presentation of any items in the Group\u2019s financial statements. Amendments to the standards IAS 8 and other amendments to IAS 1 have been implemented in the preparation of the consolidated financial statements. Implementation of these changes has not had any significant effect on the Group\u2019s financial statements. There are no standards or interpretations that are not yet effective that would be expected to have a material impact on the Group\u2019s consolidated statement.",
"dimensions": {
"concept": "ifrs-full:DisclosureOfChangesInAccountingPoliciesAccountingEstimatesAndErrorsExplanatory",
"language": "en",
"entity": "scheme:635400VFBLRSFRXLGQ03",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"s8_notes__6__24": {
"value": "2.3 Basis of consolidationThe consolidated financial statements comprise the financial statements of the Company and its subsidiaries as at 31 December 2023. Non-controlling interests are insignificant.Subsidiaries are consolidated from the point in time when control is transferred to the Group and eliminated from consolidation when control ends. If the Group loses control over a subsidiary, it derecognises the related assets (including goodwill) and liabilities, while any resulting gain or loss is recognised in profit or loss together with cumulative translation differences.All internal transactions, unsettled balances and unrealized gains between Group companies are eliminated. Unrealized losses are also eliminated unless the transaction establishes an impairment for the transferred asset.",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForSubsidiariesExplanatory",
"language": "en",
"entity": "scheme:635400VFBLRSFRXLGQ03",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"s8_notes__6__23": {
"value": "2.3 Basis of consolidationThe consolidated financial statements comprise the financial statements of the Company and its subsidiaries as at 31 December 2023. Non-controlling interests are insignificant.Subsidiaries are consolidated from the point in time when control is transferred to the Group and eliminated from consolidation when control ends. If the Group loses control over a subsidiary, it derecognises the related assets (including goodwill) and liabilities, while any resulting gain or loss is recognised in profit or loss together with cumulative translation differences.All internal transactions, unsettled balances and unrealized gains between Group companies are eliminated. Unrealized losses are also eliminated unless the transaction establishes an impairment for the transferred asset.",
"dimensions": {
"concept": "ifrs-full:DisclosureOfBasisOfConsolidationExplanatory",
"language": "en",
"entity": "scheme:635400VFBLRSFRXLGQ03",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"s8_notes__6__27": {
"value": "2.4 Joint arrangements and investment in associates Investments in associated companies and joint ventures are accounted for using the equity method. The Group accounts for its investment in joint operations by recognising its relative share of the investee\u2019s assets liabilities, revenues and expenses. The Group currently has no joint arrangements or investments in associates that are considered material to the consolidated accounts.",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForInvestmentsInJointVentures",
"language": "en",
"entity": "scheme:635400VFBLRSFRXLGQ03",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"s8_notes__6__26": {
"value": "2.4 Joint arrangements and investment in associates Investments in associated companies and joint ventures are accounted for using the equity method. The Group accounts for its investment in joint operations by recognising its relative share of the investee\u2019s assets liabilities, revenues and expenses. The Group currently has no joint arrangements or investments in associates that are considered material to the consolidated accounts.",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForInvestmentInAssociates",
"language": "en",
"entity": "scheme:635400VFBLRSFRXLGQ03",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"s8_notes__6__25": {
"value": "2.4 Joint arrangements and investment in associates Investments in associated companies and joint ventures are accounted for using the equity method. The Group accounts for its investment in joint operations by recognising its relative share of the investee\u2019s assets liabilities, revenues and expenses. The Group currently has no joint arrangements or investments in associates that are considered material to the consolidated accounts.",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForInvestmentInAssociatesAndJointVenturesExplanatory",
"language": "en",
"entity": "scheme:635400VFBLRSFRXLGQ03",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"s8_notes__6__29": {
"value": "2.5 Foreign currenciesThe consolidated accounts are presented in Norwegian kroner (NOK), which is the functional and presentation currency of the parent company. Transactions involving foreign currencies are translated into the functional currency using the exchange rates that are in effect at the time of the transactions. When consolidating the accounts of foreign subsidiaries, the income statement is translated into the presentation currency according to average exchange rates per month.",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForForeignCurrencyTranslationExplanatory",
"language": "en",
"entity": "scheme:635400VFBLRSFRXLGQ03",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"s8_notes__6__28": {
"value": "2.5 Foreign currenciesThe consolidated accounts are presented in Norwegian kroner (NOK), which is the functional and presentation currency of the parent company. Transactions involving foreign currencies are translated into the functional currency using the exchange rates that are in effect at the time of the transactions. When consolidating the accounts of foreign subsidiaries, the income statement is translated into the presentation currency according to average exchange rates per month.",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForFunctionalCurrencyExplanatory",
"language": "en",
"entity": "scheme:635400VFBLRSFRXLGQ03",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"s8_notes__6__30": {
"value": "2.6 Current versus non-current classificationThe Group presents assets and liabilities in the statement of financial position based on current/ non-current classification.",
"dimensions": {
"concept": "ifrs-full:DescriptionOfOtherAccountingPoliciesRelevantToUnderstandingOfFinancialStatements",
"language": "en",
"entity": "scheme:635400VFBLRSFRXLGQ03",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"s8_notes__6__32": {
"value": "2.7 Impairment of non-financial assetsThe Group assesses at each reporting date whether there is an indication that an asset may be impaired. If any indication exists, the Group estimates the asset\u2019s recoverable amount. Goodwill is tested for impairment annually. The Group does not have other intangible assets with indefinite useful lives. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset. The Group bases its impairment calculation on most recent budgets and forecast calculations, which are prepared separately for each of the Group\u2019s CGUs to which the individual assets are allocated. These budgets and forecast calculations generally cover a period of three years. A long-term growth rate is calculated and applied to project future cash flows after the third year.",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForImpairmentOfNonfinancialAssetsExplanatory",
"language": "en",
"entity": "scheme:635400VFBLRSFRXLGQ03",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"s8_notes__6__31-1": {
"value": "2.7 Impairment of non-financial assetsThe Group assesses at each reporting date whether there is an indication that an asset may be impaired. If any indication exists, the Group estimates the asset\u2019s recoverable amount. Goodwill is tested for impairment annually. The Group does not have other intangible assets with indefinite useful lives. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset. The Group bases its impairment calculation on most recent budgets and forecast calculations, which are prepared separately for each of the Group\u2019s CGUs to which the individual assets are allocated. These budgets and forecast calculations generally cover a period of three years. A long-term growth rate is calculated and applied to project future cash flows after the third year.Accounting policyThe Group has current and non-current financial assets in the form of investments in equity and bond funds. These assets are classified and subsequently measured at fair value through profit or loss. The Group\u2019s other financial assets are classified and measured at amortised cost as they are held within a business model to collect contractual cash flows. These assets are contract assets, trade receivables, current and non-current other receivables and cash and cash equivalents. Impairment of these financial assets are recognised as a loss allowance based on lifetime ECLs at each reporting date. The economic downturn seen in 2023 has been considered when recognising loss allowance ECLs.Financial liabilities in the form of trade payables, contract liabilities and other current and non-current liabilities are recognised at fair value and subsequently measured at amortised cost.The Group is exposed to financial risks related to fluctuations in cash flow due in particular to changes in credit risk, exchange rates and interest rates.",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForImpairmentOfAssetsExplanatory",
"language": "en",
"entity": "scheme:635400VFBLRSFRXLGQ03",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"s8_notes__6__34": {
"value": "2.8 Statement of cash flowsThe statement of cash flows is prepared using the indirect method. Acquisitions of subsidiaries are presented as investing activities net of cash in target. Interest paid is presented as part of financing activities. Interest received is presented as a part of investing activities.",
"dimensions": {
"concept": "ifrs-full:DisclosureOfCashFlowStatementExplanatory",
"language": "en",
"entity": "scheme:635400VFBLRSFRXLGQ03",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"s8_notes__6__33-1": {
"value": "2.8 Statement of cash flowsThe statement of cash flows is prepared using the indirect method. Acquisitions of subsidiaries are presented as investing activities net of cash in target. Interest paid is presented as part of financing activities. Interest received is presented as a part of investing activities.Accounting policyCash and cash equivalents in the statement of financial position comprise cash in banks and on hand and short-term highly liquid deposits with a maturity of three months or less, that are readily convertible to a known amount of cash and subject to an insignificant risk of changes in value. For the purpose of the consolidated statement of cash flows, cash and cash equivalents consist of cash and short-term deposits, as defined above. The Group\u2019s investment of excess cash in bond funds is not classified as cash.",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForCashFlowsExplanatory",
"language": "en",
"entity": "scheme:635400VFBLRSFRXLGQ03",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"s8_notes__6__36-1": {
"value": "3. Significant accounting judgements, estimates and assumptionsThe preparation of the Group\u2019s consolidated financial statements requires management to make judgements, estimates and assumptions that affect the reported amounts of revenues, expenses, assets and liabilities, and the accompanying disclosures, and the disclosure of contingent liabilities. Uncertainty about these assumptions and estimates could result in outcomes that require a material adjustment to the carrying amount of assets or liabilities affected in future periods. The most important areas where estimates and judgements have a significant impact are listed below: - Revenue recognition and projects in progress (note 6) Impairment of goodwill (note 10)Significant accounting judgements, estimates and assumptionsWhen determining the recoverable amount of goodwill, the Group makes assumptions and estimates key variables about the future cash flows from cash-generating-units. These estimations have included consideration of possible effects of the current increase in inflation and interest rates and increased future economic uncertainty. Impairment tests indicate no requirement to make write-downs nor does sensitivity analysis with reasonable changes in assumptions. However, future outcomes may deviate materially from the estimates to the extent that write-down of goodwill is required.With respect to climate risks and opportunities, three scenarios have been examined and assessed for financial materiality and their potential impact on Norconsult\u2019s business model and strategy. As a result of this scenario analysis, two financially material climate-related risks were identified: - Risk 1: Changing demand for services - Risk 2: Regulatory changes create demand for new knowledge to win contractsIn addition, three material climate-related opportunities were identified: - Opportunity 1: Severe weather increases demand for services - Opportunity 2: Low-carbon solutions increases demand for services - Opportunity 3: Renewable energy sources increases demand for servicesNorconsult experience transition risk in that the advice and solutions that we plan and design must comply with relevant changes in policy, technology, laws, regulations and standards. This requires a dynamic and adaptable management system and skilled employees. This will affect both our market and its stakeholders, creating both a risk of reduction in the services we currently provide, but also opportunities to provide additional services in current and new professional disciplines.",
"dimensions": {
"concept": "ifrs-full:DisclosureOfAssetsAndLiabilitiesWithSignificantRiskOfMaterialAdjustmentExplanatory",
"language": "en",
"entity": "scheme:635400VFBLRSFRXLGQ03",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"s8_notes__6__35-1": {
"value": "3. Significant accounting judgements, estimates and assumptionsThe preparation of the Group\u2019s consolidated financial statements requires management to make judgements, estimates and assumptions that affect the reported amounts of revenues, expenses, assets and liabilities, and the accompanying disclosures, and the disclosure of contingent liabilities. Uncertainty about these assumptions and estimates could result in outcomes that require a material adjustment to the carrying amount of assets or liabilities affected in future periods. The most important areas where estimates and judgements have a significant impact are listed below: - Revenue recognition and projects in progress (note 6) Impairment of goodwill (note 10)Significant accounting judgements, estimates and assumptionsThe Group\u2019s business mainly consists of execution of projects. Invoices to customers are for the majority of the projects based on hours charged, but a portion also has fixed price elements. At each period end the Group assess the probability that the hours charged can be billed to the customer, as well as estimating remaining costs of the project. Uncertainty is particularly related to change orders, claims and other contract changes. There is an inherent risk associated with these estimates.",
"dimensions": {
"concept": "ifrs-full:ExplanationOfAssumptionAboutFutureWithSignificantRiskOfResultingInMaterialAdjustments",
"language": "en",
"entity": "scheme:635400VFBLRSFRXLGQ03",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"s8_notes__6__18": {
"value": "3. Significant accounting judgements, estimates and assumptionsThe preparation of the Group\u2019s consolidated financial statements requires management to make judgements, estimates and assumptions that affect the reported amounts of revenues, expenses, assets and liabilities, and the accompanying disclosures, and the disclosure of contingent liabilities. Uncertainty about these assumptions and estimates could result in outcomes that require a material adjustment to the carrying amount of assets or liabilities affected in future periods. The most important areas where estimates and judgements have a significant impact are listed below: - Revenue recognition and projects in progress (note 6) Impairment of goodwill (note 10)Significant accounting judgements, estimates and assumptionsThe Group\u2019s business mainly consists of execution of projects. Invoices to customers are for the majority of the projects based on hours charged, but a portion also has fixed price elements. At each period end the Group assess the probability that the hours charged can be billed to the customer, as well as estimating remaining costs of the project. Uncertainty is particularly related to change orders, claims and other contract changes. There is an inherent risk associated with these estimates.Significant accounting judgements, estimates and assumptionsWhen determining the recoverable amount of goodwill, the Group makes assumptions and estimates key variables about the future cash flows from cash-generating-units. These estimations have included consideration of possible effects of the current increase in inflation and interest rates and increased future economic uncertainty. Impairment tests indicate no requirement to make write-downs nor does sensitivity analysis with reasonable changes in assumptions. However, future outcomes may deviate materially from the estimates to the extent that write-down of goodwill is required.With respect to climate risks and opportunities, three scenarios have been examined and assessed for financial materiality and their potential impact on Norconsult\u2019s business model and strategy. As a result of this scenario analysis, two financially material climate-related risks were identified: - Risk 1: Changing demand for services - Risk 2: Regulatory changes create demand for new knowledge to win contractsIn addition, three material climate-related opportunities were identified: - Opportunity 1: Severe weather increases demand for services - Opportunity 2: Low-carbon solutions increases demand for services - Opportunity 3: Renewable energy sources increases demand for servicesNorconsult experience transition risk in that the advice and solutions that we plan and design must comply with relevant changes in policy, technology, laws, regulations and standards. This requires a dynamic and adaptable management system and skilled employees. This will affect both our market and its stakeholders, creating both a risk of reduction in the services we currently provide, but also opportunities to provide additional services in current and new professional disciplines.",
"dimensions": {
"concept": "ifrs-full:DisclosureOfAccountingJudgementsAndEstimatesExplanatory",
"language": "en",
"entity": "scheme:635400VFBLRSFRXLGQ03",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"s8_notes__6__50": {
"value": "Liquidity riskLiquidity risk is the risk of not being able to settle the Group\u2019s commitments as they fall due. This risk is considered to be low in view of the Group\u2019s financial position with a steady cash flow from operations and no interest-bearing debt (except for lease liabilities). Cash pools are used to minimize the Group\u2019s use of overdraft facilities. The Group has an overdraft facility of NOK 500 million that currently is not utilized.Maturity of financial liabilities excluding lease liabilities is as follows:2023 <1 year 1-5 years >5 yearsOther non-current debt 0 6 25 Trade payables 266 0 0 Other current financial liabilities 317 1 0 Total 584 7 25 2022 <1 year 1-5 years >5 yearsOther non-current debt 0 31 10 Trade payables 233 0 0 Other current financial liabilities 219 0 0 Total 452 31 10For maturity of lease liabilities see note 12.",
"dimensions": {
"concept": "ifrs-full:DisclosureOfLiquidityRiskExplanatory",
"language": "en",
"entity": "scheme:635400VFBLRSFRXLGQ03",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"s8_notes__6__38": {
"value": "4. Financial risk management Accounting policyThe Group has current and non-current financial assets in the form of investments in equity and bond funds. These assets are classified and subsequently measured at fair value through profit or loss. The Group\u2019s other financial assets are classified and measured at amortised cost as they are held within a business model to collect contractual cash flows. These assets are contract assets, trade receivables, current and non-current other receivables and cash and cash equivalents. Impairment of these financial assets are recognised as a loss allowance based on lifetime ECLs at each reporting date. The economic downturn seen in 2023 has been considered when recognising loss allowance ECLs.Financial liabilities in the form of trade payables, contract liabilities and other current and non-current liabilities are recognised at fair value and subsequently measured at amortised cost.The Group is exposed to financial risks related to fluctuations in cash flow due in particular to changes in credit risk, exchange rates and interest rates.Credit riskCredit risk is mainly related to trade receivables, cash and cash equivalents and other non-current receivables.Risk related to trade receivables is the risk that customers will not be able to settle their payment obligations. The Group has established procedures for credit assessment of new customers. Expected credit losses for trade receivables and net project work in progress are assessed using the simplified approach which uses a lifetime expected loss allowance. Loss levels have been adjusted to reflect relevant current and forward-looking information potentially impacting on the customer\u2019s ability to settle their obligations including potential effects of the economic downturn seen through 2023 but with a more stable outlook for 2024.Historically the level of losses on trade receivables has been low. The risk that trade receivables are not paid is mainly related to customer disputes and in some cases bankruptcy situations. Work in progress is continually monitored and is, for a large portion of the revenues, billed as incurred. In some instances, hours used are not billed or accepted by the customer, and in such cases, revenues would be reduced by credit notes.The Group has no customers that account for more than 10% of operating revenues. 2023 2023 2022 2022Age analysis of trade receivables Gross Expected Gross Expected credit losscredit lossNot due 1 472 3 1 216 3 <30 days 211 3 113 1 30-60 days 34 4 30 2 60-90 days 27 3 8 1 >90 days 90 51 91 57 Total 1 834 64 1 457 64 Net trade receivables 1 769 1 393 Change in expected credit loss Opening balance 64 41Provision in the year 41 23Write-off of uncollectible receivables -4 1Reversal of unutilized amounts -37 0Closing balance 64 64Loss on receivables in income statement 5 35Other current and non-current financial receivables have a carrying value of NOK 414 million (2022: NOK 386 million) and mainly consists of investments in debt instruments with investment grade rating. Cash and cash equivalents have a carrying value of NOK 553 million (2022: NOK 971 million) and are held to settle commitments as they fall due and cover payment of dividends. Cash and cash equivalents are mainly kept with the Group\u2019s main bank relation. Liquidity riskLiquidity risk is the risk of not being able to settle the Group\u2019s commitments as they fall due. This risk is considered to be low in view of the Group\u2019s financial position with a steady cash flow from operations and no interest-bearing debt (except for lease liabilities). Cash pools are used to minimize the Group\u2019s use of overdraft facilities. The Group has an overdraft facility of NOK 500 million that currently is not utilized.Maturity of financial liabilities excluding lease liabilities is as follows:2023 <1 year 1-5 years >5 yearsOther non-current debt 0 6 25 Trade payables 266 0 0 Other current financial liabilities 317 1 0 Total 584 7 25 2022 <1 year 1-5 years >5 yearsOther non-current debt 0 31 10 Trade payables 233 0 0 Other current financial liabilities 219 0 0 Total 452 31 10For maturity of lease liabilities see note 12.Currency riskForeign currency risk is the risk that the fair value or future cash flows of an exposure will fluctuate because of changes in foreign exchange rates. The Group\u2019s exposure to the risk of changes in foreign exchange rates relates primarily to net assets and the profit/loss in the Group\u2019s net investments in foreign subsidiaries. The current strategy suggests that the Group should hedge currency risks where appropriate or aim for contract terms that limit currency exposure.Transaction exposureTransaction exposure is the risk of potential change in foreign currency rates and the effect on contracted and anticipated payments in foreign currency. The Group has a natural risk coverage as revenue and expenses normally are denominated in the local currency. The level of transactions in a non-local currency is limited. The Group\u2019s largest operational transaction exposure varies between years and is in 2023 between currencies ISK/NOK, USD/NOK and SEK/NOK (2022: EUR/NOK and USD/NOK). A change in 10% of the exchange rate for these currencies would affect the Group\u2019s operating profit by approximately NOK 2 million (2022: NOK 5 million).Interest rate riskInterest rate risk is the effects of changes in interest rates on the Group\u2019s net financial items and value of financial instruments. The Group\u2019s profit is to a limited extent affected by changes in interest rates and primarily relate to interest income on cash and cash equivalents and return on financial investments.Categories of financial instrumentsCarrying amounts and fair value of financial assets and liabilities are presented below. Carrying amount is considered a good approximation of fair value.Financial instruments Carrying Amortised Non- Fair value Fair value per categoryamount costfinancial over P&L - over P&L - at 31.12.2023itemlevel 1 inputlevel 3 inputNon-current financial assets 61 42 0 19 0 Trade receivable 1 769 1 769 0 0 0Contract assets 536 536 0 0 0Other current assets 245 44 201 0 0 Other current financial assets 394 0 0 394 0 Cash and cash equivalents 553 553 0 0 0Total assets 3 558 2 943 201 414 0 Other non-current liabilities excluding 39 32 7 0 0 lease liabilitiesTrade payables 266 266 0 0 0Contract liabilities 196 196 0 0 0Other current liabilities 1 982 0 1 982 0 0 Total liabilities 2 483 494 1 989 0 0 Financial instruments Carrying Amortised Non- Fair value Fair value per categoryamount costfinancial over P&L - over P&L - at 31.12.2022itemlevel 1 inputlevel 3 inputNon-current financial assets 28 14 0 14 0 Trade receivable 1 393 1 393 0 0 0Contract assets 599 599 0 0 0Other current assets 211 57 154 0 0 Other current financial assets 372 0 0 372 0 Cash and cash equivalents 971 971 0 0 0Total assets 3 574 3 034 154 386 0 Other non-current liabilities excluding 41 41 0 0 0lease liabilitiesTrade payables 233 233 0 0 0Contract liabilities 178 178 0 0 0Other current liabilities 1 809 0 1 769 0 41 Total liabilities 2 262 452 1 769 0 41Other current financial assets consist of investments in bond funds where investments have a remaining term of up to 3 years and an interest duration of 1-2 years remaining interest duration of 1 -2 years. The funds have an investment grade rating. Fair value is measured at hierarchy-level 1. Non-current financial assets at fair value are investments in equity and debt instrument funds.Other non-current accruals measured at fair value are contingent considerations from acquisitions. Fair value is measured at hierarchy-level 3.For financial assets and liabilities measured at amortised cost the carrying amount is considered a good approximation of fair value using hierarchy-level 3 measures.Fair value hierarchyThe Group measures fair value using the following hierarchy:Level 1 \u2014 Quoted (unadjusted) market prices in active markets for identical assets or liabilitiesLevel 2 \u2014 Valuation techniques for which the lowest level input that is significant to the fair value measurement is directly or indirectly observableLevel 3 \u2014 Valuation techniques for which the lowest level input that is significant to the fair value measurement is unobservable. This usually involves estimating future cash flows and discounting to net present value using a relevant discount factor.Capital managementThe Group\u2019s financial objective is to maintain an appropriate capital structure in order to secure the basis for continuous development of its operations as well as meeting its obligations and dividend targets. The Group has the following financial targets: - Adjusted EBITA margin above 10% of operating revenue and other income after external project costs over a business cycle - Max Net interest-bearing debt/adjusted EBITDA ratio of 2.0 (12 months rolling EBITDA)The adjusted EBITA margin for 2023 is 9.5% (2022: 9.9%). The net interest-bearing debt/adjusted EBITDA ratio at 31 December 2023 is 0.51 (2022: 0.19). The increase is mainly due to a reduction in cash and cash equivalents following the NOK 597 million extra dividend distribution in 2023.The Group\u2019s dividend policy is to distribute a dividend equivalent to a minimum 50% of profit after tax to the shareholders while at the same time considering expected future cash flows, financing requirements, investments and financial flexibility. A dividend of NOK 1.20 per share is proposed for 2023, in total NOK 343 million (2022: NOK 271 million), representing a dividend of 66.5% (2022: 60.0%) of profit after tax. In 2023 an additional dividend of NOK 597 million was distributed prior to the listing of the Company on Oslo Stock Exchange.The Group\u2019s equity as a percentage of total assets is 32.5% (2022: 35.9%).",
"dimensions": {
"concept": "ifrs-full:DisclosureOfFinancialRiskManagementExplanatory",
"language": "en",
"entity": "scheme:635400VFBLRSFRXLGQ03",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"s8_notes__6__37": {
"value": "4. Financial risk management Accounting policyThe Group has current and non-current financial assets in the form of investments in equity and bond funds. These assets are classified and subsequently measured at fair value through profit or loss. The Group\u2019s other financial assets are classified and measured at amortised cost as they are held within a business model to collect contractual cash flows. These assets are contract assets, trade receivables, current and non-current other receivables and cash and cash equivalents. Impairment of these financial assets are recognised as a loss allowance based on lifetime ECLs at each reporting date. The economic downturn seen in 2023 has been considered when recognising loss allowance ECLs.Financial liabilities in the form of trade payables, contract liabilities and other current and non-current liabilities are recognised at fair value and subsequently measured at amortised cost.The Group is exposed to financial risks related to fluctuations in cash flow due in particular to changes in credit risk, exchange rates and interest rates.Credit riskCredit risk is mainly related to trade receivables, cash and cash equivalents and other non-current receivables.Risk related to trade receivables is the risk that customers will not be able to settle their payment obligations. The Group has established procedures for credit assessment of new customers. Expected credit losses for trade receivables and net project work in progress are assessed using the simplified approach which uses a lifetime expected loss allowance. Loss levels have been adjusted to reflect relevant current and forward-looking information potentially impacting on the customer\u2019s ability to settle their obligations including potential effects of the economic downturn seen through 2023 but with a more stable outlook for 2024.Historically the level of losses on trade receivables has been low. The risk that trade receivables are not paid is mainly related to customer disputes and in some cases bankruptcy situations. Work in progress is continually monitored and is, for a large portion of the revenues, billed as incurred. In some instances, hours used are not billed or accepted by the customer, and in such cases, revenues would be reduced by credit notes.The Group has no customers that account for more than 10% of operating revenues. 2023 2023 2022 2022Age analysis of trade receivables Gross Expected Gross Expected credit losscredit lossNot due 1 472 3 1 216 3 <30 days 211 3 113 1 30-60 days 34 4 30 2 60-90 days 27 3 8 1 >90 days 90 51 91 57 Total 1 834 64 1 457 64 Net trade receivables 1 769 1 393 Change in expected credit loss Opening balance 64 41Provision in the year 41 23Write-off of uncollectible receivables -4 1Reversal of unutilized amounts -37 0Closing balance 64 64Loss on receivables in income statement 5 35Other current and non-current financial receivables have a carrying value of NOK 414 million (2022: NOK 386 million) and mainly consists of investments in debt instruments with investment grade rating. Cash and cash equivalents have a carrying value of NOK 553 million (2022: NOK 971 million) and are held to settle commitments as they fall due and cover payment of dividends. Cash and cash equivalents are mainly kept with the Group\u2019s main bank relation. Liquidity riskLiquidity risk is the risk of not being able to settle the Group\u2019s commitments as they fall due. This risk is considered to be low in view of the Group\u2019s financial position with a steady cash flow from operations and no interest-bearing debt (except for lease liabilities). Cash pools are used to minimize the Group\u2019s use of overdraft facilities. The Group has an overdraft facility of NOK 500 million that currently is not utilized.Maturity of financial liabilities excluding lease liabilities is as follows:2023 <1 year 1-5 years >5 yearsOther non-current debt 0 6 25 Trade payables 266 0 0 Other current financial liabilities 317 1 0 Total 584 7 25 2022 <1 year 1-5 years >5 yearsOther non-current debt 0 31 10 Trade payables 233 0 0 Other current financial liabilities 219 0 0 Total 452 31 10For maturity of lease liabilities see note 12.Currency riskForeign currency risk is the risk that the fair value or future cash flows of an exposure will fluctuate because of changes in foreign exchange rates. The Group\u2019s exposure to the risk of changes in foreign exchange rates relates primarily to net assets and the profit/loss in the Group\u2019s net investments in foreign subsidiaries. The current strategy suggests that the Group should hedge currency risks where appropriate or aim for contract terms that limit currency exposure.Transaction exposureTransaction exposure is the risk of potential change in foreign currency rates and the effect on contracted and anticipated payments in foreign currency. The Group has a natural risk coverage as revenue and expenses normally are denominated in the local currency. The level of transactions in a non-local currency is limited. The Group\u2019s largest operational transaction exposure varies between years and is in 2023 between currencies ISK/NOK, USD/NOK and SEK/NOK (2022: EUR/NOK and USD/NOK). A change in 10% of the exchange rate for these currencies would affect the Group\u2019s operating profit by approximately NOK 2 million (2022: NOK 5 million).Interest rate riskInterest rate risk is the effects of changes in interest rates on the Group\u2019s net financial items and value of financial instruments. The Group\u2019s profit is to a limited extent affected by changes in interest rates and primarily relate to interest income on cash and cash equivalents and return on financial investments.Categories of financial instrumentsCarrying amounts and fair value of financial assets and liabilities are presented below. Carrying amount is considered a good approximation of fair value.Financial instruments Carrying Amortised Non- Fair value Fair value per categoryamount costfinancial over P&L - over P&L - at 31.12.2023itemlevel 1 inputlevel 3 inputNon-current financial assets 61 42 0 19 0 Trade receivable 1 769 1 769 0 0 0Contract assets 536 536 0 0 0Other current assets 245 44 201 0 0 Other current financial assets 394 0 0 394 0 Cash and cash equivalents 553 553 0 0 0Total assets 3 558 2 943 201 414 0 Other non-current liabilities excluding 39 32 7 0 0 lease liabilitiesTrade payables 266 266 0 0 0Contract liabilities 196 196 0 0 0Other current liabilities 1 982 0 1 982 0 0 Total liabilities 2 483 494 1 989 0 0 Financial instruments Carrying Amortised Non- Fair value Fair value per categoryamount costfinancial over P&L - over P&L - at 31.12.2022itemlevel 1 inputlevel 3 inputNon-current financial assets 28 14 0 14 0 Trade receivable 1 393 1 393 0 0 0Contract assets 599 599 0 0 0Other current assets 211 57 154 0 0 Other current financial assets 372 0 0 372 0 Cash and cash equivalents 971 971 0 0 0Total assets 3 574 3 034 154 386 0 Other non-current liabilities excluding 41 41 0 0 0lease liabilitiesTrade payables 233 233 0 0 0Contract liabilities 178 178 0 0 0Other current liabilities 1 809 0 1 769 0 41 Total liabilities 2 262 452 1 769 0 41Other current financial assets consist of investments in bond funds where investments have a remaining term of up to 3 years and an interest duration of 1-2 years remaining interest duration of 1 -2 years. The funds have an investment grade rating. Fair value is measured at hierarchy-level 1. Non-current financial assets at fair value are investments in equity and debt instrument funds.Other non-current accruals measured at fair value are contingent considerations from acquisitions. Fair value is measured at hierarchy-level 3.For financial assets and liabilities measured at amortised cost the carrying amount is considered a good approximation of fair value using hierarchy-level 3 measures.Fair value hierarchyThe Group measures fair value using the following hierarchy:Level 1 \u2014 Quoted (unadjusted) market prices in active markets for identical assets or liabilitiesLevel 2 \u2014 Valuation techniques for which the lowest level input that is significant to the fair value measurement is directly or indirectly observableLevel 3 \u2014 Valuation techniques for which the lowest level input that is significant to the fair value measurement is unobservable. This usually involves estimating future cash flows and discounting to net present value using a relevant discount factor.",
"dimensions": {
"concept": "ifrs-full:DisclosureOfFinancialInstrumentsExplanatory",
"language": "en",
"entity": "scheme:635400VFBLRSFRXLGQ03",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"s8_notes__6__46": {
"value": "Accounting policyThe Group has current and non-current financial assets in the form of investments in equity and bond funds. These assets are classified and subsequently measured at fair value through profit or loss. The Group\u2019s other financial assets are classified and measured at amortised cost as they are held within a business model to collect contractual cash flows. These assets are contract assets, trade receivables, current and non-current other receivables and cash and cash equivalents. Impairment of these financial assets are recognised as a loss allowance based on lifetime ECLs at each reporting date. The economic downturn seen in 2023 has been considered when recognising loss allowance ECLs.Financial liabilities in the form of trade payables, contract liabilities and other current and non-current liabilities are recognised at fair value and subsequently measured at amortised cost.The Group is exposed to financial risks related to fluctuations in cash flow due in particular to changes in credit risk, exchange rates and interest rates.",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForFinancialLiabilitiesExplanatory",
"language": "en",
"entity": "scheme:635400VFBLRSFRXLGQ03",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"s8_notes__6__45": {
"value": "Accounting policyThe Group has current and non-current financial assets in the form of investments in equity and bond funds. These assets are classified and subsequently measured at fair value through profit or loss. The Group\u2019s other financial assets are classified and measured at amortised cost as they are held within a business model to collect contractual cash flows. These assets are contract assets, trade receivables, current and non-current other receivables and cash and cash equivalents. Impairment of these financial assets are recognised as a loss allowance based on lifetime ECLs at each reporting date. The economic downturn seen in 2023 has been considered when recognising loss allowance ECLs.Financial liabilities in the form of trade payables, contract liabilities and other current and non-current liabilities are recognised at fair value and subsequently measured at amortised cost.The Group is exposed to financial risks related to fluctuations in cash flow due in particular to changes in credit risk, exchange rates and interest rates.",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForTradeAndOtherReceivablesExplanatory",
"language": "en",
"entity": "scheme:635400VFBLRSFRXLGQ03",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"s8_notes__6__44": {
"value": "Accounting policyThe Group has current and non-current financial assets in the form of investments in equity and bond funds. These assets are classified and subsequently measured at fair value through profit or loss. The Group\u2019s other financial assets are classified and measured at amortised cost as they are held within a business model to collect contractual cash flows. These assets are contract assets, trade receivables, current and non-current other receivables and cash and cash equivalents. Impairment of these financial assets are recognised as a loss allowance based on lifetime ECLs at each reporting date. The economic downturn seen in 2023 has been considered when recognising loss allowance ECLs.Financial liabilities in the form of trade payables, contract liabilities and other current and non-current liabilities are recognised at fair value and subsequently measured at amortised cost.The Group is exposed to financial risks related to fluctuations in cash flow due in particular to changes in credit risk, exchange rates and interest rates.",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForImpairmentOfFinancialAssetsExplanatory",
"language": "en",
"entity": "scheme:635400VFBLRSFRXLGQ03",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"s8_notes__6__42": {
"value": "Accounting policyThe Group has current and non-current financial assets in the form of investments in equity and bond funds. These assets are classified and subsequently measured at fair value through profit or loss. The Group\u2019s other financial assets are classified and measured at amortised cost as they are held within a business model to collect contractual cash flows. These assets are contract assets, trade receivables, current and non-current other receivables and cash and cash equivalents. Impairment of these financial assets are recognised as a loss allowance based on lifetime ECLs at each reporting date. The economic downturn seen in 2023 has been considered when recognising loss allowance ECLs.Financial liabilities in the form of trade payables, contract liabilities and other current and non-current liabilities are recognised at fair value and subsequently measured at amortised cost.The Group is exposed to financial risks related to fluctuations in cash flow due in particular to changes in credit risk, exchange rates and interest rates.",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForFinancialInstrumentsAtFairValueThroughProfitOrLossExplanatory",
"language": "en",
"entity": "scheme:635400VFBLRSFRXLGQ03",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"s8_notes__6__41": {
"value": "Accounting policyThe Group has current and non-current financial assets in the form of investments in equity and bond funds. These assets are classified and subsequently measured at fair value through profit or loss. The Group\u2019s other financial assets are classified and measured at amortised cost as they are held within a business model to collect contractual cash flows. These assets are contract assets, trade receivables, current and non-current other receivables and cash and cash equivalents. Impairment of these financial assets are recognised as a loss allowance based on lifetime ECLs at each reporting date. The economic downturn seen in 2023 has been considered when recognising loss allowance ECLs.Financial liabilities in the form of trade payables, contract liabilities and other current and non-current liabilities are recognised at fair value and subsequently measured at amortised cost.The Group is exposed to financial risks related to fluctuations in cash flow due in particular to changes in credit risk, exchange rates and interest rates.",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForFinancialAssetsExplanatory",
"language": "en",
"entity": "scheme:635400VFBLRSFRXLGQ03",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"s8_notes__6__40": {
"value": "Accounting policyThe Group has current and non-current financial assets in the form of investments in equity and bond funds. These assets are classified and subsequently measured at fair value through profit or loss. The Group\u2019s other financial assets are classified and measured at amortised cost as they are held within a business model to collect contractual cash flows. These assets are contract assets, trade receivables, current and non-current other receivables and cash and cash equivalents. Impairment of these financial assets are recognised as a loss allowance based on lifetime ECLs at each reporting date. The economic downturn seen in 2023 has been considered when recognising loss allowance ECLs.Financial liabilities in the form of trade payables, contract liabilities and other current and non-current liabilities are recognised at fair value and subsequently measured at amortised cost.The Group is exposed to financial risks related to fluctuations in cash flow due in particular to changes in credit risk, exchange rates and interest rates.",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForFinancialInstrumentsExplanatory",
"language": "en",
"entity": "scheme:635400VFBLRSFRXLGQ03",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"s8_notes__6__39-1": {
"value": "Accounting policyThe Group has current and non-current financial assets in the form of investments in equity and bond funds. These assets are classified and subsequently measured at fair value through profit or loss. The Group\u2019s other financial assets are classified and measured at amortised cost as they are held within a business model to collect contractual cash flows. These assets are contract assets, trade receivables, current and non-current other receivables and cash and cash equivalents. Impairment of these financial assets are recognised as a loss allowance based on lifetime ECLs at each reporting date. The economic downturn seen in 2023 has been considered when recognising loss allowance ECLs.Financial liabilities in the form of trade payables, contract liabilities and other current and non-current liabilities are recognised at fair value and subsequently measured at amortised cost.The Group is exposed to financial risks related to fluctuations in cash flow due in particular to changes in credit risk, exchange rates and interest rates.Fair value hierarchyThe Group measures fair value using the following hierarchy:Level 1 \u2014 Quoted (unadjusted) market prices in active markets for identical assets or liabilitiesLevel 2 \u2014 Valuation techniques for which the lowest level input that is significant to the fair value measurement is directly or indirectly observableLevel 3 \u2014 Valuation techniques for which the lowest level input that is significant to the fair value measurement is unobservable. This usually involves estimating future cash flows and discounting to net present value using a relevant discount factor.",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForFairValueMeasurementExplanatory",
"language": "en",
"entity": "scheme:635400VFBLRSFRXLGQ03",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"s8_notes__6__49": {
"value": "Credit riskCredit risk is mainly related to trade receivables, cash and cash equivalents and other non-current receivables.Risk related to trade receivables is the risk that customers will not be able to settle their payment obligations. The Group has established procedures for credit assessment of new customers. Expected credit losses for trade receivables and net project work in progress are assessed using the simplified approach which uses a lifetime expected loss allowance. Loss levels have been adjusted to reflect relevant current and forward-looking information potentially impacting on the customer\u2019s ability to settle their obligations including potential effects of the economic downturn seen through 2023 but with a more stable outlook for 2024.Historically the level of losses on trade receivables has been low. The risk that trade receivables are not paid is mainly related to customer disputes and in some cases bankruptcy situations. Work in progress is continually monitored and is, for a large portion of the revenues, billed as incurred. In some instances, hours used are not billed or accepted by the customer, and in such cases, revenues would be reduced by credit notes.The Group has no customers that account for more than 10% of operating revenues. 2023 2023 2022 2022Age analysis of trade receivables Gross Expected Gross Expected credit losscredit lossNot due 1 472 3 1 216 3 <30 days 211 3 113 1 30-60 days 34 4 30 2 60-90 days 27 3 8 1 >90 days 90 51 91 57 Total 1 834 64 1 457 64 Net trade receivables 1 769 1 393 Change in expected credit loss Opening balance 64 41Provision in the year 41 23Write-off of uncollectible receivables -4 1Reversal of unutilized amounts -37 0Closing balance 64 64Loss on receivables in income statement 5 35Other current and non-current financial receivables have a carrying value of NOK 414 million (2022: NOK 386 million) and mainly consists of investments in debt instruments with investment grade rating. Cash and cash equivalents have a carrying value of NOK 553 million (2022: NOK 971 million) and are held to settle commitments as they fall due and cover payment of dividends. Cash and cash equivalents are mainly kept with the Group\u2019s main bank relation.",
"dimensions": {
"concept": "ifrs-full:DisclosureOfAllowanceForCreditLossesExplanatory",
"language": "en",
"entity": "scheme:635400VFBLRSFRXLGQ03",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"s8_notes__6__48-1": {
"value": "Credit riskCredit risk is mainly related to trade receivables, cash and cash equivalents and other non-current receivables.Risk related to trade receivables is the risk that customers will not be able to settle their payment obligations. The Group has established procedures for credit assessment of new customers. Expected credit losses for trade receivables and net project work in progress are assessed using the simplified approach which uses a lifetime expected loss allowance. Loss levels have been adjusted to reflect relevant current and forward-looking information potentially impacting on the customer\u2019s ability to settle their obligations including potential effects of the economic downturn seen through 2023 but with a more stable outlook for 2024.Historically the level of losses on trade receivables has been low. The risk that trade receivables are not paid is mainly related to customer disputes and in some cases bankruptcy situations. Work in progress is continually monitored and is, for a large portion of the revenues, billed as incurred. In some instances, hours used are not billed or accepted by the customer, and in such cases, revenues would be reduced by credit notes.The Group has no customers that account for more than 10% of operating revenues. 2023 2023 2022 2022Age analysis of trade receivables Gross Expected Gross Expected credit losscredit lossNot due 1 472 3 1 216 3 <30 days 211 3 113 1 30-60 days 34 4 30 2 60-90 days 27 3 8 1 >90 days 90 51 91 57 Total 1 834 64 1 457 64 Net trade receivables 1 769 1 393 Change in expected credit loss Opening balance 64 41Provision in the year 41 23Write-off of uncollectible receivables -4 1Reversal of unutilized amounts -37 0Closing balance 64 64Loss on receivables in income statement 5 35Other current and non-current financial receivables have a carrying value of NOK 414 million (2022: NOK 386 million) and mainly consists of investments in debt instruments with investment grade rating. Cash and cash equivalents have a carrying value of NOK 553 million (2022: NOK 971 million) and are held to settle commitments as they fall due and cover payment of dividends. Cash and cash equivalents are mainly kept with the Group\u2019s main bank relation.Financial instruments Carrying Amortised Non- Fair value Fair value per categoryamount costfinancial over P&L - over P&L - at 31.12.2023itemlevel 1 inputlevel 3 inputNon-current financial assets 61 42 0 19 0 Trade receivable 1 769 1 769 0 0 0Contract assets 536 536 0 0 0Other current assets 245 44 201 0 0 Other current financial assets 394 0 0 394 0 Cash and cash equivalents 553 553 0 0 0Total assets 3 558 2 943 201 414 0 Other non-current liabilities excluding 39 32 7 0 0 lease liabilitiesTrade payables 266 266 0 0 0Contract liabilities 196 196 0 0 0Other current liabilities 1 982 0 1 982 0 0 Total liabilities 2 483 494 1 989 0 0 Financial instruments Carrying Amortised Non- Fair value Fair value per categoryamount costfinancial over P&L - over P&L - at 31.12.2022itemlevel 1 inputlevel 3 inputNon-current financial assets 28 14 0 14 0 Trade receivable 1 393 1 393 0 0 0Contract assets 599 599 0 0 0Other current assets 211 57 154 0 0 Other current financial assets 372 0 0 372 0 Cash and cash equivalents 971 971 0 0 0Total assets 3 574 3 034 154 386 0 Other non-current liabilities excluding 41 41 0 0 0lease liabilitiesTrade payables 233 233 0 0 0Contract liabilities 178 178 0 0 0Other current liabilities 1 809 0 1 769 0 41 Total liabilities 2 262 452 1 769 0 41",
"dimensions": {
"concept": "ifrs-full:DisclosureOfTradeAndOtherReceivablesExplanatory",
"language": "en",
"entity": "scheme:635400VFBLRSFRXLGQ03",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"s8_notes__6__47": {
"value": "Credit riskCredit risk is mainly related to trade receivables, cash and cash equivalents and other non-current receivables.Risk related to trade receivables is the risk that customers will not be able to settle their payment obligations. The Group has established procedures for credit assessment of new customers. Expected credit losses for trade receivables and net project work in progress are assessed using the simplified approach which uses a lifetime expected loss allowance. Loss levels have been adjusted to reflect relevant current and forward-looking information potentially impacting on the customer\u2019s ability to settle their obligations including potential effects of the economic downturn seen through 2023 but with a more stable outlook for 2024.Historically the level of losses on trade receivables has been low. The risk that trade receivables are not paid is mainly related to customer disputes and in some cases bankruptcy situations. Work in progress is continually monitored and is, for a large portion of the revenues, billed as incurred. In some instances, hours used are not billed or accepted by the customer, and in such cases, revenues would be reduced by credit notes.The Group has no customers that account for more than 10% of operating revenues. 2023 2023 2022 2022Age analysis of trade receivables Gross Expected Gross Expected credit losscredit lossNot due 1 472 3 1 216 3 <30 days 211 3 113 1 30-60 days 34 4 30 2 60-90 days 27 3 8 1 >90 days 90 51 91 57 Total 1 834 64 1 457 64 Net trade receivables 1 769 1 393 Change in expected credit loss Opening balance 64 41Provision in the year 41 23Write-off of uncollectible receivables -4 1Reversal of unutilized amounts -37 0Closing balance 64 64Loss on receivables in income statement 5 35Other current and non-current financial receivables have a carrying value of NOK 414 million (2022: NOK 386 million) and mainly consists of investments in debt instruments with investment grade rating. Cash and cash equivalents have a carrying value of NOK 553 million (2022: NOK 971 million) and are held to settle commitments as they fall due and cover payment of dividends. Cash and cash equivalents are mainly kept with the Group\u2019s main bank relation.",
"dimensions": {
"concept": "ifrs-full:DisclosureOfCreditRiskExplanatory",
"language": "en",
"entity": "scheme:635400VFBLRSFRXLGQ03",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"s8_notes__6__51-1": {
"value": "2023 <1 year 1-5 years >5 yearsOther non-current debt 0 6 25 Trade payables 266 0 0 Other current financial liabilities 317 1 0 Total 584 7 25 2022 <1 year 1-5 years >5 yearsOther non-current debt 0 31 10 Trade payables 233 0 0 Other current financial liabilities 219 0 0 Total 452 31 10Financial instruments Carrying Amortised Non- Fair value Fair value per categoryamount costfinancial over P&L - over P&L - at 31.12.2023itemlevel 1 inputlevel 3 inputNon-current financial assets 61 42 0 19 0 Trade receivable 1 769 1 769 0 0 0Contract assets 536 536 0 0 0Other current assets 245 44 201 0 0 Other current financial assets 394 0 0 394 0 Cash and cash equivalents 553 553 0 0 0Total assets 3 558 2 943 201 414 0 Other non-current liabilities excluding 39 32 7 0 0 lease liabilitiesTrade payables 266 266 0 0 0Contract liabilities 196 196 0 0 0Other current liabilities 1 982 0 1 982 0 0 Total liabilities 2 483 494 1 989 0 0 Financial instruments Carrying Amortised Non- Fair value Fair value per categoryamount costfinancial over P&L - over P&L - at 31.12.2022itemlevel 1 inputlevel 3 inputNon-current financial assets 28 14 0 14 0 Trade receivable 1 393 1 393 0 0 0Contract assets 599 599 0 0 0Other current assets 211 57 154 0 0 Other current financial assets 372 0 0 372 0 Cash and cash equivalents 971 971 0 0 0Total assets 3 574 3 034 154 386 0 Other non-current liabilities excluding 41 41 0 0 0lease liabilitiesTrade payables 233 233 0 0 0Contract liabilities 178 178 0 0 0Other current liabilities 1 809 0 1 769 0 41 Total liabilities 2 262 452 1 769 0 41",
"dimensions": {
"concept": "ifrs-full:DisclosureOfTradeAndOtherPayablesExplanatory",
"language": "en",
"entity": "scheme:635400VFBLRSFRXLGQ03",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"s8_notes__6__53-1": {
"value": "Currency riskForeign currency risk is the risk that the fair value or future cash flows of an exposure will fluctuate because of changes in foreign exchange rates. The Group\u2019s exposure to the risk of changes in foreign exchange rates relates primarily to net assets and the profit/loss in the Group\u2019s net investments in foreign subsidiaries. The current strategy suggests that the Group should hedge currency risks where appropriate or aim for contract terms that limit currency exposure.Transaction exposureTransaction exposure is the risk of potential change in foreign currency rates and the effect on contracted and anticipated payments in foreign currency. The Group has a natural risk coverage as revenue and expenses normally are denominated in the local currency. The level of transactions in a non-local currency is limited. The Group\u2019s largest operational transaction exposure varies between years and is in 2023 between currencies ISK/NOK, USD/NOK and SEK/NOK (2022: EUR/NOK and USD/NOK). A change in 10% of the exchange rate for these currencies would affect the Group\u2019s operating profit by approximately NOK 2 million (2022: NOK 5 million).Interest rate riskInterest rate risk is the effects of changes in interest rates on the Group\u2019s net financial items and value of financial instruments. The Group\u2019s profit is to a limited extent affected by changes in interest rates and primarily relate to interest income on cash and cash equivalents and return on financial investments.",
"dimensions": {
"concept": "ifrs-full:DisclosureOfMarketRiskExplanatory",
"language": "en",
"entity": "scheme:635400VFBLRSFRXLGQ03",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"s8_notes__6__52": {
"value": "Currency riskForeign currency risk is the risk that the fair value or future cash flows of an exposure will fluctuate because of changes in foreign exchange rates. The Group\u2019s exposure to the risk of changes in foreign exchange rates relates primarily to net assets and the profit/loss in the Group\u2019s net investments in foreign subsidiaries. The current strategy suggests that the Group should hedge currency risks where appropriate or aim for contract terms that limit currency exposure.Transaction exposureTransaction exposure is the risk of potential change in foreign currency rates and the effect on contracted and anticipated payments in foreign currency. The Group has a natural risk coverage as revenue and expenses normally are denominated in the local currency. The level of transactions in a non-local currency is limited. The Group\u2019s largest operational transaction exposure varies between years and is in 2023 between currencies ISK/NOK, USD/NOK and SEK/NOK (2022: EUR/NOK and USD/NOK). A change in 10% of the exchange rate for these currencies would affect the Group\u2019s operating profit by approximately NOK 2 million (2022: NOK 5 million).",
"dimensions": {
"concept": "ifrs-full:DisclosureOfEffectOfChangesInForeignExchangeRatesExplanatory",
"language": "en",
"entity": "scheme:635400VFBLRSFRXLGQ03",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"s8_notes__6__57": {
"value": "Categories of financial instrumentsCarrying amounts and fair value of financial assets and liabilities are presented below. Carrying amount is considered a good approximation of fair value.Financial instruments Carrying Amortised Non- Fair value Fair value per categoryamount costfinancial over P&L - over P&L - at 31.12.2023itemlevel 1 inputlevel 3 inputNon-current financial assets 61 42 0 19 0 Trade receivable 1 769 1 769 0 0 0Contract assets 536 536 0 0 0Other current assets 245 44 201 0 0 Other current financial assets 394 0 0 394 0 Cash and cash equivalents 553 553 0 0 0Total assets 3 558 2 943 201 414 0 Other non-current liabilities excluding 39 32 7 0 0 lease liabilitiesTrade payables 266 266 0 0 0Contract liabilities 196 196 0 0 0Other current liabilities 1 982 0 1 982 0 0 Total liabilities 2 483 494 1 989 0 0 Financial instruments Carrying Amortised Non- Fair value Fair value per categoryamount costfinancial over P&L - over P&L - at 31.12.2022itemlevel 1 inputlevel 3 inputNon-current financial assets 28 14 0 14 0 Trade receivable 1 393 1 393 0 0 0Contract assets 599 599 0 0 0Other current assets 211 57 154 0 0 Other current financial assets 372 0 0 372 0 Cash and cash equivalents 971 971 0 0 0Total assets 3 574 3 034 154 386 0 Other non-current liabilities excluding 41 41 0 0 0lease liabilitiesTrade payables 233 233 0 0 0Contract liabilities 178 178 0 0 0Other current liabilities 1 809 0 1 769 0 41 Total liabilities 2 262 452 1 769 0 41Other current financial assets consist of investments in bond funds where investments have a remaining term of up to 3 years and an interest duration of 1-2 years remaining interest duration of 1 -2 years. The funds have an investment grade rating. Fair value is measured at hierarchy-level 1. Non-current financial assets at fair value are investments in equity and debt instrument funds.Other non-current accruals measured at fair value are contingent considerations from acquisitions. Fair value is measured at hierarchy-level 3.For financial assets and liabilities measured at amortised cost the carrying amount is considered a good approximation of fair value using hierarchy-level 3 measures.Fair value hierarchyThe Group measures fair value using the following hierarchy:Level 1 \u2014 Quoted (unadjusted) market prices in active markets for identical assets or liabilitiesLevel 2 \u2014 Valuation techniques for which the lowest level input that is significant to the fair value measurement is directly or indirectly observableLevel 3 \u2014 Valuation techniques for which the lowest level input that is significant to the fair value measurement is unobservable. This usually involves estimating future cash flows and discounting to net present value using a relevant discount factor.",
"dimensions": {
"concept": "ifrs-full:DisclosureOfFinancialInstrumentsAtFairValueThroughProfitOrLossExplanatory",
"language": "en",
"entity": "scheme:635400VFBLRSFRXLGQ03",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"s8_notes__6__56": {
"value": "Categories of financial instrumentsCarrying amounts and fair value of financial assets and liabilities are presented below. Carrying amount is considered a good approximation of fair value.Financial instruments Carrying Amortised Non- Fair value Fair value per categoryamount costfinancial over P&L - over P&L - at 31.12.2023itemlevel 1 inputlevel 3 inputNon-current financial assets 61 42 0 19 0 Trade receivable 1 769 1 769 0 0 0Contract assets 536 536 0 0 0Other current assets 245 44 201 0 0 Other current financial assets 394 0 0 394 0 Cash and cash equivalents 553 553 0 0 0Total assets 3 558 2 943 201 414 0 Other non-current liabilities excluding 39 32 7 0 0 lease liabilitiesTrade payables 266 266 0 0 0Contract liabilities 196 196 0 0 0Other current liabilities 1 982 0 1 982 0 0 Total liabilities 2 483 494 1 989 0 0 Financial instruments Carrying Amortised Non- Fair value Fair value per categoryamount costfinancial over P&L - over P&L - at 31.12.2022itemlevel 1 inputlevel 3 inputNon-current financial assets 28 14 0 14 0 Trade receivable 1 393 1 393 0 0 0Contract assets 599 599 0 0 0Other current assets 211 57 154 0 0 Other current financial assets 372 0 0 372 0 Cash and cash equivalents 971 971 0 0 0Total assets 3 574 3 034 154 386 0 Other non-current liabilities excluding 41 41 0 0 0lease liabilitiesTrade payables 233 233 0 0 0Contract liabilities 178 178 0 0 0Other current liabilities 1 809 0 1 769 0 41 Total liabilities 2 262 452 1 769 0 41Other current financial assets consist of investments in bond funds where investments have a remaining term of up to 3 years and an interest duration of 1-2 years remaining interest duration of 1 -2 years. The funds have an investment grade rating. Fair value is measured at hierarchy-level 1. Non-current financial assets at fair value are investments in equity and debt instrument funds.Other non-current accruals measured at fair value are contingent considerations from acquisitions. Fair value is measured at hierarchy-level 3.For financial assets and liabilities measured at amortised cost the carrying amount is considered a good approximation of fair value using hierarchy-level 3 measures.Fair value hierarchyThe Group measures fair value using the following hierarchy:Level 1 \u2014 Quoted (unadjusted) market prices in active markets for identical assets or liabilitiesLevel 2 \u2014 Valuation techniques for which the lowest level input that is significant to the fair value measurement is directly or indirectly observableLevel 3 \u2014 Valuation techniques for which the lowest level input that is significant to the fair value measurement is unobservable. This usually involves estimating future cash flows and discounting to net present value using a relevant discount factor.",
"dimensions": {
"concept": "ifrs-full:DisclosureOfFairValueMeasurementExplanatory",
"language": "en",
"entity": "scheme:635400VFBLRSFRXLGQ03",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"s8_notes__6__55": {
"value": "Categories of financial instrumentsCarrying amounts and fair value of financial assets and liabilities are presented below. Carrying amount is considered a good approximation of fair value.Financial instruments Carrying Amortised Non- Fair value Fair value per categoryamount costfinancial over P&L - over P&L - at 31.12.2023itemlevel 1 inputlevel 3 inputNon-current financial assets 61 42 0 19 0 Trade receivable 1 769 1 769 0 0 0Contract assets 536 536 0 0 0Other current assets 245 44 201 0 0 Other current financial assets 394 0 0 394 0 Cash and cash equivalents 553 553 0 0 0Total assets 3 558 2 943 201 414 0 Other non-current liabilities excluding 39 32 7 0 0 lease liabilitiesTrade payables 266 266 0 0 0Contract liabilities 196 196 0 0 0Other current liabilities 1 982 0 1 982 0 0 Total liabilities 2 483 494 1 989 0 0 Financial instruments Carrying Amortised Non- Fair value Fair value per categoryamount costfinancial over P&L - over P&L - at 31.12.2022itemlevel 1 inputlevel 3 inputNon-current financial assets 28 14 0 14 0 Trade receivable 1 393 1 393 0 0 0Contract assets 599 599 0 0 0Other current assets 211 57 154 0 0 Other current financial assets 372 0 0 372 0 Cash and cash equivalents 971 971 0 0 0Total assets 3 574 3 034 154 386 0 Other non-current liabilities excluding 41 41 0 0 0lease liabilitiesTrade payables 233 233 0 0 0Contract liabilities 178 178 0 0 0Other current liabilities 1 809 0 1 769 0 41 Total liabilities 2 262 452 1 769 0 41Other current financial assets consist of investments in bond funds where investments have a remaining term of up to 3 years and an interest duration of 1-2 years remaining interest duration of 1 -2 years. The funds have an investment grade rating. Fair value is measured at hierarchy-level 1. Non-current financial assets at fair value are investments in equity and debt instrument funds.Other non-current accruals measured at fair value are contingent considerations from acquisitions. Fair value is measured at hierarchy-level 3.For financial assets and liabilities measured at amortised cost the carrying amount is considered a good approximation of fair value using hierarchy-level 3 measures.Fair value hierarchyThe Group measures fair value using the following hierarchy:Level 1 \u2014 Quoted (unadjusted) market prices in active markets for identical assets or liabilitiesLevel 2 \u2014 Valuation techniques for which the lowest level input that is significant to the fair value measurement is directly or indirectly observableLevel 3 \u2014 Valuation techniques for which the lowest level input that is significant to the fair value measurement is unobservable. This usually involves estimating future cash flows and discounting to net present value using a relevant discount factor.",
"dimensions": {
"concept": "ifrs-full:DisclosureOfFairValueOfFinancialInstrumentsExplanatory",
"language": "en",
"entity": "scheme:635400VFBLRSFRXLGQ03",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"s8_notes__6__61": {
"value": "Capital managementThe Group\u2019s financial objective is to maintain an appropriate capital structure in order to secure the basis for continuous development of its operations as well as meeting its obligations and dividend targets. The Group has the following financial targets: - Adjusted EBITA margin above 10% of operating revenue and other income after external project costs over a business cycle - Max Net interest-bearing debt/adjusted EBITDA ratio of 2.0 (12 months rolling EBITDA)The adjusted EBITA margin for 2023 is 9.5% (2022: 9.9%). The net interest-bearing debt/adjusted EBITDA ratio at 31 December 2023 is 0.51 (2022: 0.19). The increase is mainly due to a reduction in cash and cash equivalents following the NOK 597 million extra dividend distribution in 2023.The Group\u2019s dividend policy is to distribute a dividend equivalent to a minimum 50% of profit after tax to the shareholders while at the same time considering expected future cash flows, financing requirements, investments and financial flexibility. A dividend of NOK 1.20 per share is proposed for 2023, in total NOK 343 million (2022: NOK 271 million), representing a dividend of 66.5% (2022: 60.0%) of profit after tax. In 2023 an additional dividend of NOK 597 million was distributed prior to the listing of the Company on Oslo Stock Exchange.The Group\u2019s equity as a percentage of total assets is 32.5% (2022: 35.9%).",
"dimensions": {
"concept": "ifrs-full:DisclosureOfObjectivesPoliciesAndProcessesForManagingCapitalExplanatory",
"language": "en",
"entity": "scheme:635400VFBLRSFRXLGQ03",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"s8_notes__6__62": {
"value": "5. Business combinationsAccounting policyBusiness combinations are accounted for using the acquisition method. For each business combination, the Group chooses whether to measure any non-controlling interests in the acquiree at fair value or at the proportionate share of the acquiree\u2019s identifiable net assets. The Group does not have material non-controlling interests neither in 2023 nor 2022. Any contingent consideration to be transferred by the acquirer is recognised at fair value at the acquisition date. If the contingent consideration is classified as an equity instrument it is not remeasured and settlement is recognised in equity. Otherwise, the fair value of contingent consideration is remeasured at each reporting date and any change is recognised in profit and loss. After initial recognition, goodwill is measured at cost less any accumulated impairment losses. For the purpose of impairment testing goodwill that is acquired in a business combination is allocated to each of the Group\u2019s cash-generating units that are expected to benefit from the combination. Goodwill allocated to foreign cash-generating units are denominated in foreign currency and is subject to change due to variation in currency rates.For acquisitions carried out before 1 January 2021 goodwill is recognised at acquisition cost less accumulated impairment in accordance with the previously applied Norwegian accounting policies.Acquisitions in 2023On 1 January 2023 the Group acquired the Danish company LB Consult A/S for an estimated consideration of NOK 49 million. The company provides consulting engineering services within construction and property, has its head office in Grenaa and has been acquired to increase regional presence and to strengthen specialist engineering expertise in Denmark. The company had total revenues of NOK 60 million in 2022 and has 53 employees. The company was consolidated from 1 January 2023 and included in the Denmark segment. The acquired goodwill is attributed to the assembled workforce and its professional expertise as well as market access and growth potential.On 1 July 2023 the Group acquired the Danish company Ingeni\u00f8rv\u00e6rket A/S for an estimated consideration of NOK 27 million. The company provides consulting engineering services within construction and property and has offices in Esbjerg and Horsens, had revenues of NOK 37 million in 2022 and has 26 employees. The company was consolidated from 1 July 2023 and included in the Denmark segment. The acquired goodwill is attributed to the assembled workforce and its professional expertise as well as market access and growth potential.In addition, Norconsult made two smaller acquisitions in Norway and Denmark with a net acquisition cost of NOK 6 million. The total goodwill acquired was NOK 5 million. These are considered immaterial to the consolidated financial statements and further information is not provided.The goodwill deductible for tax purposes for business acquisitions in 2023 amounts to NOK 3 million.2023 LB Consult Ingeni\u00f8r- A/Sv\u00e6rket ApSDate of acquisition 1.1.2023 1.7.2023Share of ownership 100 % 100 %Cash settlement 49 27 Cash in target 3 4 Net settlement 46 23 Property, plant and equipment 1 0 Right-of-use-asset 8 0 Non-current financial assets 19 15 Intangible assets: Customer contracts and relations 3 3 Current assets 13 4 Deferred tax -1 -1 Lease liability -8 -1 Other current liabilities -14 -9 Net identifiable assets and liabilities 21 13 Goodwill 25 10 Consolidated revenue of the acquired businesses recognised from the date of acquisitions is NOK 88 million and consolidated net profit is NOK -3 million. If these business combinations in 2023 had taken place at the beginning of the year, operating revenue and other income for the Group would have increased with approximately NOK 50 million to NOK 9 624 million and profit before tax would have been reduced with approximately NOK 3 million to NOK 671 million. The gross and fair value of receivables acquired are not materially different. The purchase price allocations for the acquisition of Ingeni\u00f8rv\u00e6rket and the two smaller acquisitions are not finalized.The Group measured the acquired lease liabilities using the present value of the remaining lease payments at the date of acquisition. The right-of-use assets were measured at an amount equal to the lease liabilities and adjusted to reflect the favorable terms of the lease relative to market terms. Acquisitions in 2022In 2022 Norconsult acquired four companies with 119 employees and annual revenues in the region of NOK 223 million. Acquisitions have mainly been carried out to increase the Group\u2019s regional presence as well as obtaining access to specialist competencies.On 1 February 2022 Norconsult purchased 100% of the shares in Jord Milj\u00f8 A/S, and Jord Teknikk A/S, a technical consultant business with expertise in soil and environmental surveys within the building and construction sector based in Herlev, Denmark. Jord Milj\u00f8 A/S was founded in 1990, has 55 employees and an annual revenue of NOK 105 million. The company was consolidated in Denmark from February 2022. The acquired goodwill is attributed to the assembled workforce and its professional expertise.On 1 March 2022 Norconsult purchased 100% of the shares in Kristin Jarmund Arkitekter AS an architectural practiced based in Oslo, Norway. Kristin Jarmund Arkitekter was founded in 1985, has 22 employees and an annual revenue of NOK 27 million. The company was consolidated in Norway Head Office from March 2022. The acquired goodwill is attributed to the assembled workforce and its professional expertise as well as market access and growth potential.On 1 October 2022 Norconsult purchased 100% of the shares in Moldskred AS an architectural and engineering business based in \u00c5lesund, Norway. Moldskred AS was founded in 1987, has 19 employees and an annual revenue of approximately NOK 29 million. The company was consolidated in Norway Regions from October 2022. The acquired goodwill is attributed to the assembled workforce and its professional expertise as well as market access and growth potential.On 1 November 2022 Norconsult purchased 100% of the shares in Areal og Eiendom AS, an architectural and engineering business based in Kongsvinger, Norway. Areal og Eiendom was founded in 2000, has 23 employees and an annual revenue of NOK 32 million. The company was consolidated in Renewable Energy from November 2022. The acquired goodwill is attributed to the assembled workforce and its professional expertise as well as market access and growth potential.In addition, Norconsult made one acquisition in 2022 when the Company purchased the project engineering department from Betonmast Boligbygg AS for NOK 10 million. The department has 16 employees. Goodwill identified in the acquisition is NOK 10 million. The goodwill deductible for tax purposes for business acquisitions in 2022 amounts to NOK 10 million.The fair value of identifiable assets and liabilities at the dates of acquisition were:2022 Jord Milj\u00f8 Kristin Jarmund Moldskred Areal og A/SArkitekter ASASEiendom ASDate of acquistion 1.2.2022 1.3.2022 1.10.2022 1.11.2022Share of ownership 100 % 100 % 100 % 100 %Cash settlement 57 53 42 53 Earn-out settlement 0 0 0 0 Cash in target 4 8 3 8 Net settlement 53 45 38 44 Property, plant and equipment 3 0 0 0 Right-of-use-asset 6 2 4 0 Non-current financial assets 0 0 0 1 Intangible assets: 4 10 7 2 Customer contracts and relationsCurrent assets 22 11 7 5 Deferred tax -1 -2 -3 0 Lease liability -6 -2 -4 0 Interest-bearing debt 0 0 0 -1 Other current liabilities -21 -15 -5 -9 Net identifiable assets and liabilities 8 5 6 -2 Goodwill 45 40 32 46 Consolidated revenue from date of acquisition 81 19 5 5 Consolidate revenue if acquired company had 105 27 29 32 been owned for full yearConsolidated profit/loss from date of acquisition 8 2 0 1 Consolidated profit/loss had the company been 12 2 4 5 owned for full yearTransactions costs expensed as other 1 0 0 0 operating expensesAnalysis of cash flows on acquisitions: Cash purchase consideration 57 53 42 53 Net cash acquired with the subsidiary -4 -8 -3 -8 Transaction costs 1 0 0 0 Net cash flow on acquisition 54 45 38 44 If these business combinations in 2022 had taken place at the beginning of the year, operating revenue and other income for the Group would have been NOK approximately 8 500 million and profit before tax would have been approx. NOK 630 million. The gross and fair value of receivables acquired are not materially different.The Group measured the acquired lease liabilities using the present value of the remaining lease payments at the date of acquisition. The right-of-use assets were measured at an amount equal to the lease liabilities and adjusted to reflect the favorable terms of the lease relative to market terms.",
"dimensions": {
"concept": "ifrs-full:DisclosureOfBusinessCombinationsExplanatory",
"language": "en",
"entity": "scheme:635400VFBLRSFRXLGQ03",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"s8_notes__6__65": {
"value": "Accounting policyBusiness combinations are accounted for using the acquisition method. For each business combination, the Group chooses whether to measure any non-controlling interests in the acquiree at fair value or at the proportionate share of the acquiree\u2019s identifiable net assets. The Group does not have material non-controlling interests neither in 2023 nor 2022. Any contingent consideration to be transferred by the acquirer is recognised at fair value at the acquisition date. If the contingent consideration is classified as an equity instrument it is not remeasured and settlement is recognised in equity. Otherwise, the fair value of contingent consideration is remeasured at each reporting date and any change is recognised in profit and loss. After initial recognition, goodwill is measured at cost less any accumulated impairment losses. For the purpose of impairment testing goodwill that is acquired in a business combination is allocated to each of the Group\u2019s cash-generating units that are expected to benefit from the combination. Goodwill allocated to foreign cash-generating units are denominated in foreign currency and is subject to change due to variation in currency rates.For acquisitions carried out before 1 January 2021 goodwill is recognised at acquisition cost less accumulated impairment in accordance with the previously applied Norwegian accounting policies.",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForGoodwillExplanatory",
"language": "en",
"entity": "scheme:635400VFBLRSFRXLGQ03",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"s8_notes__6__64": {
"value": "Accounting policyBusiness combinations are accounted for using the acquisition method. For each business combination, the Group chooses whether to measure any non-controlling interests in the acquiree at fair value or at the proportionate share of the acquiree\u2019s identifiable net assets. The Group does not have material non-controlling interests neither in 2023 nor 2022. Any contingent consideration to be transferred by the acquirer is recognised at fair value at the acquisition date. If the contingent consideration is classified as an equity instrument it is not remeasured and settlement is recognised in equity. Otherwise, the fair value of contingent consideration is remeasured at each reporting date and any change is recognised in profit and loss. After initial recognition, goodwill is measured at cost less any accumulated impairment losses. For the purpose of impairment testing goodwill that is acquired in a business combination is allocated to each of the Group\u2019s cash-generating units that are expected to benefit from the combination. Goodwill allocated to foreign cash-generating units are denominated in foreign currency and is subject to change due to variation in currency rates.For acquisitions carried out before 1 January 2021 goodwill is recognised at acquisition cost less accumulated impairment in accordance with the previously applied Norwegian accounting policies.",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForBusinessCombinationsExplanatory",
"language": "en",
"entity": "scheme:635400VFBLRSFRXLGQ03",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"s8_notes__6__63": {
"value": "Accounting policyBusiness combinations are accounted for using the acquisition method. For each business combination, the Group chooses whether to measure any non-controlling interests in the acquiree at fair value or at the proportionate share of the acquiree\u2019s identifiable net assets. The Group does not have material non-controlling interests neither in 2023 nor 2022. Any contingent consideration to be transferred by the acquirer is recognised at fair value at the acquisition date. If the contingent consideration is classified as an equity instrument it is not remeasured and settlement is recognised in equity. Otherwise, the fair value of contingent consideration is remeasured at each reporting date and any change is recognised in profit and loss. After initial recognition, goodwill is measured at cost less any accumulated impairment losses. For the purpose of impairment testing goodwill that is acquired in a business combination is allocated to each of the Group\u2019s cash-generating units that are expected to benefit from the combination. Goodwill allocated to foreign cash-generating units are denominated in foreign currency and is subject to change due to variation in currency rates.For acquisitions carried out before 1 January 2021 goodwill is recognised at acquisition cost less accumulated impairment in accordance with the previously applied Norwegian accounting policies.",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForBusinessCombinationsAndGoodwillExplanatory",
"language": "en",
"entity": "scheme:635400VFBLRSFRXLGQ03",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"s8_notes__6__66": {
"value": "Any contingent consideration to be transferred by the acquirer is recognised at fair value at the acquisition date. If the contingent consideration is classified as an equity instrument it is not remeasured and settlement is recognised in equity. Otherwise, the fair value of contingent consideration is remeasured at each reporting date and any change is recognised in profit and loss.",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForContingentLiabilitiesAndContingentAssetsExplanatory",
"language": "en",
"entity": "scheme:635400VFBLRSFRXLGQ03",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"s8_notes__6__68": {
"value": "6. Revenue and projects in progressAccounting policyThe Group\u2019s main business is providing consultancy services in all phases of a project in areas such as transport, buildings, architecture, renewable energy, industry, water, planning, environment and digitalization. In addition, the Group has revenue from the sale of licenses and software services within its Digital segment and revenue from staffing services and specialists for hire in Technogarden.Consultancy servicesThe Group typically identifies one performance obligation in its consultancy agreements with its customers, as all activities are considered inputs to the final deliverables to its customers (i.e., the deliverables represent a combined output). Revenue is typically recognised over time, as the entity\u2019s performance depending on project type is either simultaneously received or consumed by the entity or does not create an asset with an alternative use to the entity, and the entity has an enforceable right to payment for performance completed to date. The method for measuring progress used by the Group is based on the costs incurred over total expected costs (\u2018percentage of completion method\u2019). Under this method, total expected costs are estimated recurrently, to reflect the best estimate based on the time to be spent in the projects. Contracts are typically subject to variable consideration in the form based on changes in scope under time and material agreements, bonuses, and penalties. Revenue is recognised by the Group when it is highly probable that a significant reversal will not occur. Variable consideration estimation is typically based on the most likely amount method. Typically, clients are invoiced monthly and payment terms are usually within 30 days from the date the invoice has been sent. It is frequent that contracts are modified after inception (change orders and options within contracts), with corresponding changes in pricing and scope of the projects. Usually, these changes are not accounted for as a separate contract, as they are considered to be part of the same performance obligation. Therefore, the effect of the contract modification is shown as an adjustment to revenue at the date of the contract modification. The Group does not sell service-type warranties for its customers. Warranties cannot be purchased separately by the customers, and the Group is not providing a service in addition to the assurance offered under the contract. When the unavoidable costs of fulfilling its performance obligations exceed the economic benefits expected to be received under a contract, the Group recognises an onerous contact provision, typically for the cost of fulfilling the contract. These costs comprise the incremental costs of fulfilling the contract and an allocation of other costs that relate directly to fulfilling the contract. Contract asset and liabilitiesThe sum of project revenue less progress billings is calculated for each project. Contracts where this amount is positive are presented as contract assets, and contracts where the amount is negative are presented as contract liabilities.Software servicesThe Group offers software services to its clients. These services range from sales of on-premise software to software-as-a-service. Contracts typically include maintenance agreements, which grants the users with post-contract support such as client support; unspecified software updates, recurrent updates to the data included in the systems, etc. Together with these services, the Group also provides its customers with installation services, integration, and training. Each of the services above is considered a separate performance obligation and revenues are recognised over time. In the case of the software services and post-contract support, these are recognised linearly over the subscription period. Additional services such as installation, integration and training are recognised over time based on the percentage-of-completion, however these services do not typically take more than a month to be completed (although it can vary from contract to contract), as they are considered separate performance obligations from the software services. Transaction price is not typically subject to significant variability, and payment typically made 30 days or less after invoices are sent to the customers. Significant accounting judgements, estimates and assumptionsThe Group\u2019s business mainly consists of execution of projects. Invoices to customers are for the majority of the projects based on hours charged, but a portion also has fixed price elements. At each period end the Group assess the probability that the hours charged can be billed to the customer, as well as estimating remaining costs of the project. Uncertainty is particularly related to change orders, claims and other contract changes. There is an inherent risk associated with these estimates.Disaggregation of customer revenues2023 Revenues by Norway Norway Renewable Sweden Denmark Digital and Eliminations Totalbusiness areaHead RegionsEnergyTechno- Officegarden*Energy & Industry 407 563 728 499 81 2 -67 2 213Buildings & Architecture 1 115 1 276 16 419 698 0 -31 3 493Infrastructure & Public works 1 263 845 66 564 0 0 -33 2 705Other businesses 38 42 10 74 0 1 151 -151 1 163 Sum 2 823 2 726 820 1 556 779 1 153 -282 9 574Revenues by geographical Norway Norway Renewable Sweden Denmark Digital and Eliminations TotalmarketHead RegionsEnergyTechno- Officegarden* Norway 2 653 2 723 606 112 5 808 -249 6 659 Sweden 11 1 25 1 439 0 287 -28 1 735 Denmark 1 0 5 0 763 0 -4 766 Europe 154 1 71 2 10 56 -5 290 Other countries 3 0 113 1 0 3 4 124 Sum 2 823 2 726 820 1 556 779 1 153 -282 9 5742022 Revenues by business area Norway Norway Renewable Sweden Denmark Digital and Eliminations TotalHead RegionsEnergyTechno- Officegarden*Energy & Industry 298 463 631 408 52 1 -32 1 821Buildings & Architecture 1 086 1 174 8 335 556 0 -14 3 144Infrastructure & Public works 1 083 803 51 510 0 0 -27 2 421Other businesses 55 4 4 74 1 1 061 -159 1 039 Sum 2 522 2 444 694 1 327 608 1 062 -233 8 424 Revenues by geographical Norway Norway Renewable Sweden Denmark Digital and Eliminations TotalmarketHead RegionsEnergyTechno- Officegarden* Norway 2 381 2 441 492 103 1 784 -203 6 000 Sweden 11 3 21 1 220 0 274 -30 1 500 Denmark 9 0 2 0 606 0 -2 615 Europe 112 0 54 1 0 3 -2 169 Other countries 9 0 125 2 0 1 4 141 Sum 2 522 2 444 694 1 327 608 1 062 -233 8 424 *Operating segments that due to quantitative thresholds are not separately reportable under IFRS and therefore aggregated.Revenues are allocated based on the location of the customer. Contract balances 2023 2022Trade receivables 1 769 1 393 Contract assets 536 599 Contract liabilities 196 178 Contract assets relate to revenue earned from ongoing projects. Therefore, the balances in this account will vary depending on the number, composition and status of projects in progress. The increase in trade receivables in 2023 is mainly due to increased revenue during the year, reduced contract assets and timing of customer payments at year end. Remaining revenues on contract in progress at 31 December 2023 is estimated to NOK 6 700 million (2022: NOK 6 500 million). The timing of revenue recognition is uncertain but the Group estimates that approximately NOK 4 600 million (2022: NOK 4 500 million) of these revenues will be recognised in the following year and NOK 2 100 million (2022: NOK 2 000 million) thereafter.The Group had revenues from projects with joint operations of NOK 130 million (2022: NOK 76 million).",
"dimensions": {
"concept": "ifrs-full:DisclosureOfRevenueFromContractsWithCustomersExplanatory",
"language": "en",
"entity": "scheme:635400VFBLRSFRXLGQ03",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"s8_notes__6__67": {
"value": "6. Revenue and projects in progressAccounting policyThe Group\u2019s main business is providing consultancy services in all phases of a project in areas such as transport, buildings, architecture, renewable energy, industry, water, planning, environment and digitalization. In addition, the Group has revenue from the sale of licenses and software services within its Digital segment and revenue from staffing services and specialists for hire in Technogarden.Consultancy servicesThe Group typically identifies one performance obligation in its consultancy agreements with its customers, as all activities are considered inputs to the final deliverables to its customers (i.e., the deliverables represent a combined output). Revenue is typically recognised over time, as the entity\u2019s performance depending on project type is either simultaneously received or consumed by the entity or does not create an asset with an alternative use to the entity, and the entity has an enforceable right to payment for performance completed to date. The method for measuring progress used by the Group is based on the costs incurred over total expected costs (\u2018percentage of completion method\u2019). Under this method, total expected costs are estimated recurrently, to reflect the best estimate based on the time to be spent in the projects. Contracts are typically subject to variable consideration in the form based on changes in scope under time and material agreements, bonuses, and penalties. Revenue is recognised by the Group when it is highly probable that a significant reversal will not occur. Variable consideration estimation is typically based on the most likely amount method. Typically, clients are invoiced monthly and payment terms are usually within 30 days from the date the invoice has been sent. It is frequent that contracts are modified after inception (change orders and options within contracts), with corresponding changes in pricing and scope of the projects. Usually, these changes are not accounted for as a separate contract, as they are considered to be part of the same performance obligation. Therefore, the effect of the contract modification is shown as an adjustment to revenue at the date of the contract modification. The Group does not sell service-type warranties for its customers. Warranties cannot be purchased separately by the customers, and the Group is not providing a service in addition to the assurance offered under the contract. When the unavoidable costs of fulfilling its performance obligations exceed the economic benefits expected to be received under a contract, the Group recognises an onerous contact provision, typically for the cost of fulfilling the contract. These costs comprise the incremental costs of fulfilling the contract and an allocation of other costs that relate directly to fulfilling the contract. Contract asset and liabilitiesThe sum of project revenue less progress billings is calculated for each project. Contracts where this amount is positive are presented as contract assets, and contracts where the amount is negative are presented as contract liabilities.Software servicesThe Group offers software services to its clients. These services range from sales of on-premise software to software-as-a-service. Contracts typically include maintenance agreements, which grants the users with post-contract support such as client support; unspecified software updates, recurrent updates to the data included in the systems, etc. Together with these services, the Group also provides its customers with installation services, integration, and training. Each of the services above is considered a separate performance obligation and revenues are recognised over time. In the case of the software services and post-contract support, these are recognised linearly over the subscription period. Additional services such as installation, integration and training are recognised over time based on the percentage-of-completion, however these services do not typically take more than a month to be completed (although it can vary from contract to contract), as they are considered separate performance obligations from the software services. Transaction price is not typically subject to significant variability, and payment typically made 30 days or less after invoices are sent to the customers. Significant accounting judgements, estimates and assumptionsThe Group\u2019s business mainly consists of execution of projects. Invoices to customers are for the majority of the projects based on hours charged, but a portion also has fixed price elements. At each period end the Group assess the probability that the hours charged can be billed to the customer, as well as estimating remaining costs of the project. Uncertainty is particularly related to change orders, claims and other contract changes. There is an inherent risk associated with these estimates.Disaggregation of customer revenues2023 Revenues by Norway Norway Renewable Sweden Denmark Digital and Eliminations Totalbusiness areaHead RegionsEnergyTechno- Officegarden*Energy & Industry 407 563 728 499 81 2 -67 2 213Buildings & Architecture 1 115 1 276 16 419 698 0 -31 3 493Infrastructure & Public works 1 263 845 66 564 0 0 -33 2 705Other businesses 38 42 10 74 0 1 151 -151 1 163 Sum 2 823 2 726 820 1 556 779 1 153 -282 9 574Revenues by geographical Norway Norway Renewable Sweden Denmark Digital and Eliminations TotalmarketHead RegionsEnergyTechno- Officegarden* Norway 2 653 2 723 606 112 5 808 -249 6 659 Sweden 11 1 25 1 439 0 287 -28 1 735 Denmark 1 0 5 0 763 0 -4 766 Europe 154 1 71 2 10 56 -5 290 Other countries 3 0 113 1 0 3 4 124 Sum 2 823 2 726 820 1 556 779 1 153 -282 9 5742022 Revenues by business area Norway Norway Renewable Sweden Denmark Digital and Eliminations TotalHead RegionsEnergyTechno- Officegarden*Energy & Industry 298 463 631 408 52 1 -32 1 821Buildings & Architecture 1 086 1 174 8 335 556 0 -14 3 144Infrastructure & Public works 1 083 803 51 510 0 0 -27 2 421Other businesses 55 4 4 74 1 1 061 -159 1 039 Sum 2 522 2 444 694 1 327 608 1 062 -233 8 424 Revenues by geographical Norway Norway Renewable Sweden Denmark Digital and Eliminations TotalmarketHead RegionsEnergyTechno- Officegarden* Norway 2 381 2 441 492 103 1 784 -203 6 000 Sweden 11 3 21 1 220 0 274 -30 1 500 Denmark 9 0 2 0 606 0 -2 615 Europe 112 0 54 1 0 3 -2 169 Other countries 9 0 125 2 0 1 4 141 Sum 2 522 2 444 694 1 327 608 1 062 -233 8 424 *Operating segments that due to quantitative thresholds are not separately reportable under IFRS and therefore aggregated.Revenues are allocated based on the location of the customer. Contract balances 2023 2022Trade receivables 1 769 1 393 Contract assets 536 599 Contract liabilities 196 178 Contract assets relate to revenue earned from ongoing projects. Therefore, the balances in this account will vary depending on the number, composition and status of projects in progress. The increase in trade receivables in 2023 is mainly due to increased revenue during the year, reduced contract assets and timing of customer payments at year end. Remaining revenues on contract in progress at 31 December 2023 is estimated to NOK 6 700 million (2022: NOK 6 500 million). The timing of revenue recognition is uncertain but the Group estimates that approximately NOK 4 600 million (2022: NOK 4 500 million) of these revenues will be recognised in the following year and NOK 2 100 million (2022: NOK 2 000 million) thereafter.The Group had revenues from projects with joint operations of NOK 130 million (2022: NOK 76 million).",
"dimensions": {
"concept": "ifrs-full:DisclosureOfRevenueExplanatory",
"language": "en",
"entity": "scheme:635400VFBLRSFRXLGQ03",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"s8_notes__6__69": {
"value": "Accounting policyThe Group\u2019s main business is providing consultancy services in all phases of a project in areas such as transport, buildings, architecture, renewable energy, industry, water, planning, environment and digitalization. In addition, the Group has revenue from the sale of licenses and software services within its Digital segment and revenue from staffing services and specialists for hire in Technogarden.Consultancy servicesThe Group typically identifies one performance obligation in its consultancy agreements with its customers, as all activities are considered inputs to the final deliverables to its customers (i.e., the deliverables represent a combined output). Revenue is typically recognised over time, as the entity\u2019s performance depending on project type is either simultaneously received or consumed by the entity or does not create an asset with an alternative use to the entity, and the entity has an enforceable right to payment for performance completed to date. The method for measuring progress used by the Group is based on the costs incurred over total expected costs (\u2018percentage of completion method\u2019). Under this method, total expected costs are estimated recurrently, to reflect the best estimate based on the time to be spent in the projects. Contracts are typically subject to variable consideration in the form based on changes in scope under time and material agreements, bonuses, and penalties. Revenue is recognised by the Group when it is highly probable that a significant reversal will not occur. Variable consideration estimation is typically based on the most likely amount method. Typically, clients are invoiced monthly and payment terms are usually within 30 days from the date the invoice has been sent. It is frequent that contracts are modified after inception (change orders and options within contracts), with corresponding changes in pricing and scope of the projects. Usually, these changes are not accounted for as a separate contract, as they are considered to be part of the same performance obligation. Therefore, the effect of the contract modification is shown as an adjustment to revenue at the date of the contract modification. The Group does not sell service-type warranties for its customers. Warranties cannot be purchased separately by the customers, and the Group is not providing a service in addition to the assurance offered under the contract. When the unavoidable costs of fulfilling its performance obligations exceed the economic benefits expected to be received under a contract, the Group recognises an onerous contact provision, typically for the cost of fulfilling the contract. These costs comprise the incremental costs of fulfilling the contract and an allocation of other costs that relate directly to fulfilling the contract. Contract asset and liabilitiesThe sum of project revenue less progress billings is calculated for each project. Contracts where this amount is positive are presented as contract assets, and contracts where the amount is negative are presented as contract liabilities.Software servicesThe Group offers software services to its clients. These services range from sales of on-premise software to software-as-a-service. Contracts typically include maintenance agreements, which grants the users with post-contract support such as client support; unspecified software updates, recurrent updates to the data included in the systems, etc. Together with these services, the Group also provides its customers with installation services, integration, and training. Each of the services above is considered a separate performance obligation and revenues are recognised over time. In the case of the software services and post-contract support, these are recognised linearly over the subscription period. Additional services such as installation, integration and training are recognised over time based on the percentage-of-completion, however these services do not typically take more than a month to be completed (although it can vary from contract to contract), as they are considered separate performance obligations from the software services. Transaction price is not typically subject to significant variability, and payment typically made 30 days or less after invoices are sent to the customers.",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForRecognitionOfRevenue",
"language": "en",
"entity": "scheme:635400VFBLRSFRXLGQ03",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"s8_notes__6__71": {
"value": "Contract balances 2023 2022Trade receivables 1 769 1 393 Contract assets 536 599 Contract liabilities 196 178 Contract assets relate to revenue earned from ongoing projects. Therefore, the balances in this account will vary depending on the number, composition and status of projects in progress. The increase in trade receivables in 2023 is mainly due to increased revenue during the year, reduced contract assets and timing of customer payments at year end. Remaining revenues on contract in progress at 31 December 2023 is estimated to NOK 6 700 million (2022: NOK 6 500 million). The timing of revenue recognition is uncertain but the Group estimates that approximately NOK 4 600 million (2022: NOK 4 500 million) of these revenues will be recognised in the following year and NOK 2 100 million (2022: NOK 2 000 million) thereafter.The Group had revenues from projects with joint operations of NOK 130 million (2022: NOK 76 million).",
"dimensions": {
"concept": "ifrs-full:DisclosureOfDeferredIncomeExplanatory",
"language": "en",
"entity": "scheme:635400VFBLRSFRXLGQ03",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"s8_notes__6__72": {
"value": "7. Segment reportingAccounting policySegments are reported in the same manner as the internal financial reporting to the Group\u2019s chief operating decision-maker, defined as the CEO. The internal financial reporting follows current IFRS standards as described in these notes to the Group accounts. Transactions between operating segments are recorded on an arm\u2019s length basis similar to transactions with third parties.For management purposes, the Group is organized into business units based on a combination of geography and services and has 5 reportable segments, and in addition Digital and Technogarden which are segments not separately reportable under IFRS. The management reporting for these segments which are reviewed by the CEO. Each business segment has an Executive Vice President that is responsible for day-to-day operations and financial performance. - Norway Head Office \u2013 operations in the greater Oslo area and supports the entire group with expertise in the market areas of transport, buildings, industry, water, environment, architecture as well as society and urban development - Norway Regions \u2013 operations in Norway outside the greater Oslo area - Renewable Energy \u2013 services for the renewable sector with locations in Norway, Poland, Iceland, Finland in addition to Africa and Asia - Sweden \u2013 operations in Sweden except Swedish Digital and Technogarden operations - Denmark \u2013 operations in Denmark - Digital and Technogarden* \u2013Norconsult Digital develops and distributes IT-solutions and offers IT-consultancy for the infrastructure and property sectors. Technogarden is a consultancy company offering engineers, technical specialists, project managers and IT consultants for hire. Technogarden is also offering recruitment services. Both divisions have operations in Norway and Sweden.Head office costs, IT costs and other shared costs are allocated based on FTE per segment.EBITA is the segment profit and the Group\u2019s key operational measurement metric and is defined as earnings before financial items, taxes, and amortisation and impairment of intangible assets. The accounting policies for segments are the same as for the Group.Finance expense, finance income and taxes are not allocated to individual segments as the underlying instruments are managed on a group basis. Balance sheet items are not allocated to segments other than goodwill when tested for impairment.2023 Norway Norway Renewable Sweden Denmark Digital and Other - TotalHead RegionsEnergyTechno- corporate Officegarden*cost and eliminationsExternal revenue 2 800 2 715 789 1 453 765 1 051 1 9 574Internal revenue 23 11 31 103 15 102 -283 0Total revenue and 2 823 2 726 820 1 556 779 1 153 -282 9 574other incomeExternal project costs 279 201 120 216 117 377 -230 1 080Operating revenue and 2 544 2 524 700 1 340 662 776 -52 8 494other income after external project costsOperating expenses 2 074 2 169 587 1 170 566 723 73 7 363Operating profit before 470 355 112 170 97 53 -126 1 131depreciation and amortisation (EBITDA)Depreciation and 182 103 20 79 30 6 19 438impairment tangible and ROU assetsOperating profit before 287 253 93 92 66 47 -144 693amortisation (EBITA)Amortisation and 3 2 1 3 3 7 2 21impairment intangible assetsOperating profit (EBIT) 284 251 92 89 64 39 -146 6732022 Norway Norway Renewable Sweden Denmark Digital and Other - TotalHead RegionsEnergyTechno- corporate Officegarden*cost and eliminationsExternal revenue 2 502 2 437 671 1 236 606 964 7 8 424Internal revenue 20 8 23 91 1 98 -240 0Total revenue and 2 522 2 444 694 1 327 608 1 062 -233 8 424other incomeExternal project costs 248 203 115 205 92 297 -230 931Operating revenue and 2 274 2 241 579 1 122 516 765 -3 7 494other income after external project costsOperating expenses 1 881 1 941 480 988 452 684 36 6 462Operating profit before 392 300 99 134 63 80 -40 1 032depreciation and amortization (EBITDA)Depreciation and 156 93 15 65 18 12 24 383impairment tangible and ROU assetsOperating profit before 236 208 84 69 45 68 -64 646amortisation (EBITA)Amortisation and 5 1 0 3 5 5 2 20impairment intangible assetsOperating profit (EBIT) 232 207 84 66 40 63 -65 627*Operating segments that due to quantitative thresholds are not separately reportable under IFRS and therefore aggregated.External project costs: 2023 2022Sub consultants 843 622 Travel costs 97 192 Other external project costs 140 117 Total 1 080 931 The Group has no customers that represent more than 10% of consolidated revenue.",
"dimensions": {
"concept": "ifrs-full:DisclosureOfEntitysReportableSegmentsExplanatory",
"language": "en",
"entity": "scheme:635400VFBLRSFRXLGQ03",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"s8_notes__6__73": {
"value": "Accounting policySegments are reported in the same manner as the internal financial reporting to the Group\u2019s chief operating decision-maker, defined as the CEO. The internal financial reporting follows current IFRS standards as described in these notes to the Group accounts. Transactions between operating segments are recorded on an arm\u2019s length basis similar to transactions with third parties.",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForSegmentReportingExplanatory",
"language": "en",
"entity": "scheme:635400VFBLRSFRXLGQ03",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"s8_notes__6__75-1": {
"value": "8. Salaries and personnel costsEmployee benefit expense: 2023 2022Salaries 5 041 4 440 Social security taxes 819 699 Pension expenses (note 9) 412 376 Other personnel costs 248 170 Total 6 520 5 685 Full time equivalent employees 6 124 5 567 Compensation to executive management and board of directors (NOK thousand): 2023 2022Base salary 28 468 22 627 Salary paid 26 710 25 369 Other benefits 1 469 4 486 Variable compensation 9 203 7 559 Pensions expenses 3 409 3 757 Share based payment 82 5 297 Total compensation 40 873 46 469 Number of shares owned 6 061 952 9 868 800 Non-vested shares 38 625 0Loans 0 0 More detailed information on the compensation to the Group\u2019s directors including executive personnel as well as members of the Board of Directors is provided in a separate remuneration report. The report for the financial year 2023 will be published on the Group\u2019s website subsequent to the general assembly. Company shares held by the Board of directors and Executive management are shown in note 20.9. PensionsThe Norwegian defined contribution pension plans cover 4 200 employees (2022: 3 850 employees). Contributions are 5.5% of salary up to approximately NOK 850 000 and 23.6% between NOK 850 000 to NOK 1 423 000.The Swedish group companies have two pension plans in total covering 1 400 employees (2022: 1 230 employees). The ITP1 plan is a defined contribution plan and contributions are 4.5 % of salary up to approximately NOK 550 000 and 30% of salary from NOK 550 000 up to approximately NOK 2.2 million. The ITP2 plan is a multi-employer plan and classified as a defined benefit plan according to Interpretation UFR 10 from the Swedish Corporate Reporting Board. The Group does not have access to the necessary information to report the plan as a defined benefit pension plan. Therefore, the ITP2 pension plan, which is secured through contributions to Alecta Tj\u00e4nstepension \u00d6mesidigt (Alecta), is reported as a defined contribution plan. Alecta\u2019s total overfunding, measured as the market value of assets as a percentage of insurance obligations computed in accordance with Alecta\u2019s own actuarial assumptions is 178% as of 30 September 2023 (2022: 172 %). Alecta\u2019s computation of pension obligations is not consistent with IAS 19. Alecta has 35 000 customers and total pension premiums collected was NOK 66 200 million in 2022. Further, the Swedish group companies also has a flexible pension plan with an additional provision of 1.1 % of salary that employees can waive in favor of a higher monthly salary. The Danish companies have defined contribution pension plans covering 490 employees (2022: 390 employees). Contributions are 8 to 9% of salaries. The Group also has some minor defined benefit plans covering a few employees and retirees. These commitments are insignificant to the Group and further note information is not provided.",
"dimensions": {
"concept": "ifrs-full:DisclosureOfEmployeeBenefitsExplanatory",
"language": "en",
"entity": "scheme:635400VFBLRSFRXLGQ03",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"s8_notes__6__74": {
"value": "8. Salaries and personnel costsEmployee benefit expense: 2023 2022Salaries 5 041 4 440 Social security taxes 819 699 Pension expenses (note 9) 412 376 Other personnel costs 248 170 Total 6 520 5 685 Full time equivalent employees 6 124 5 567 Compensation to executive management and board of directors (NOK thousand): 2023 2022Base salary 28 468 22 627 Salary paid 26 710 25 369 Other benefits 1 469 4 486 Variable compensation 9 203 7 559 Pensions expenses 3 409 3 757 Share based payment 82 5 297 Total compensation 40 873 46 469 Number of shares owned 6 061 952 9 868 800 Non-vested shares 38 625 0Loans 0 0 More detailed information on the compensation to the Group\u2019s directors including executive personnel as well as members of the Board of Directors is provided in a separate remuneration report. The report for the financial year 2023 will be published on the Group\u2019s website subsequent to the general assembly. Company shares held by the Board of directors and Executive management are shown in note 20.Share-based paymentAccounting policyThe Group has certain share-based payment programs for executives and employees. The programs are assessed to be equity-settled and the cost of the transactions is determined by the fair value at the date when the grant is made using an appropriate valuation model. The calculated cost is recognised in employee benefits expense, together with a corresponding increase in equity (other paid-in capital), over the period in which the service and, where applicable, the performance conditions, are fulfilled. The cumulative expense recognised for equity-settled transactions at each reporting date until the vesting date reflects the extent to which the vesting period has expired and the Group\u2019s best estimate of the number of equity instruments that will ultimately vest. Specification of share-based payment expense, as included in the table above, by year: 2023 2022Share based payment 35 82Social security taxes 6 13Total expense 41 952023 and 2024:The board decided to replace the prior share program with a new program for all employees that is applicable for 2023 only. 2 575 shares have been given to all employees that satisfy certain criteria, corresponding to approximately 13.6 million shares in total adjusted for turnover, as a one-time transaction at the time of the Initial Public Offering (\u201cIPO\u201d) of the Company. These shares have a one-year vesting period from the IPO provided that the employee still works for the Company. The estimated employee benefits of the gift shares have been calculated to NOK 252 million plus social security taxes of NOK 58 million. The amount is expensed as salary and personnel costs on a linear basis over 12 months starting 10 November 2023. NOK 43 million has been expensed in the period from 10 November to 31 December 2023. The expense is calculated based on the share price at listing of NOK 19 multiplied with the number of shares that is expected to vest. Social security taxes are calculated based on the share price at each balance sheet date. The Group does not have any other options outstanding at 31 December 2023 and 2022.From 2024 an annual share program for all employees will be introduced. In this program employees are offered to buy shares with a 20% discount on market price and the total yearly purchase price before discount is capped at NOK 30 000. In addition, a matching share program will be introduced. In the matching share program employees are offered to buy shares at market price for a total of NOK 30 000 yearly. If the employee still is employed and the shares are still owned, the employee will receive 40% additional shares after 3 years and 60% additional shares after 5 years, in total 1 share for each share bought. The annual cost of these programs including social security taxes is capped at NOK 50 million. The cost related to the 20% discount program will be expensed over Q1 and Q2. The cost related to the mathcing share program will be allocated over the vesting period of three and five years.Further, the Norconsult Board of Directors have established a share-based incentive program for the Group management team whereby all members are required to use 25% of their bonus to purchase shares in Norconsult with a 20% discount and with the right to matching shares as in the program described above. In addition, 25% of their total bonus potential can be used to purchase shares with a 20% discount. Shares purchased in these programs will have a 2-year lock-up. Tier 3 managers can purchase shares for up to 25% of their potential variable salary with a 20% discount and with the right to receive matching shares as in the program described above. These shares have a 2-year lock-up.The annual cost of the programs for the management team and tier 3 management is capped at NOK 10 million. See the Groups remuneration report for further information. 2022:Under the share program valid up to and including 2022 the employees were invited to purchase shares in the Company at certain intervals. In 2022 the shares were sold to the employees at a value equal to the shares relative portion of the Group\u2019s equity, which was calculated to NOK 5.56 per share for the 2022 allocation of shares. The fair value of the share was determined by an external appraiser specializing in such valuations and using generally accepted valuation techniques. The technique used estimates the fair value based on expected future cash flows, which were reduced due to certain limitations on the transferability of the shares that were applicable in 2022 and earlier. The fair value was estimated to be NOK 16.80 per share, and the employee benefit was thus NOK 11.24 per share. During 2022 the employees were allocated 7 727 675 shares and the shares vested at the time of allocation. The total employee benefit for 2022 was calculated to NOK 82 million, which, in addition to social security taxes of NOK 13 million, was expensed as salaries and personnel costs and are included in the table above. In 2023 social security taxes of NOK 2 million related to this program was reversed upon true-up at date of distribution.",
"dimensions": {
"concept": "ifrs-full:DisclosureOfInformationAboutEmployeesExplanatory",
"language": "en",
"entity": "scheme:635400VFBLRSFRXLGQ03",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"s8_notes__6__76": {
"value": "Compensation to executive management and board of directors (NOK thousand): 2023 2022Base salary 28 468 22 627 Salary paid 26 710 25 369 Other benefits 1 469 4 486 Variable compensation 9 203 7 559 Pensions expenses 3 409 3 757 Share based payment 82 5 297 Total compensation 40 873 46 469 Number of shares owned 6 061 952 9 868 800 Non-vested shares 38 625 0Loans 0 0 More detailed information on the compensation to the Group\u2019s directors including executive personnel as well as members of the Board of Directors is provided in a separate remuneration report. The report for the financial year 2023 will be published on the Group\u2019s website subsequent to the general assembly. Company shares held by the Board of directors and Executive management are shown in note 20.",
"dimensions": {
"concept": "ifrs-full:DisclosureOfInformationAboutKeyManagementPersonnelExplanatory",
"language": "en",
"entity": "scheme:635400VFBLRSFRXLGQ03",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"s8_notes__6__77": {
"value": "Share-based paymentAccounting policyThe Group has certain share-based payment programs for executives and employees. The programs are assessed to be equity-settled and the cost of the transactions is determined by the fair value at the date when the grant is made using an appropriate valuation model. The calculated cost is recognised in employee benefits expense, together with a corresponding increase in equity (other paid-in capital), over the period in which the service and, where applicable, the performance conditions, are fulfilled. The cumulative expense recognised for equity-settled transactions at each reporting date until the vesting date reflects the extent to which the vesting period has expired and the Group\u2019s best estimate of the number of equity instruments that will ultimately vest. Specification of share-based payment expense, as included in the table above, by year: 2023 2022Share based payment 35 82Social security taxes 6 13Total expense 41 952023 and 2024:The board decided to replace the prior share program with a new program for all employees that is applicable for 2023 only. 2 575 shares have been given to all employees that satisfy certain criteria, corresponding to approximately 13.6 million shares in total adjusted for turnover, as a one-time transaction at the time of the Initial Public Offering (\u201cIPO\u201d) of the Company. These shares have a one-year vesting period from the IPO provided that the employee still works for the Company. The estimated employee benefits of the gift shares have been calculated to NOK 252 million plus social security taxes of NOK 58 million. The amount is expensed as salary and personnel costs on a linear basis over 12 months starting 10 November 2023. NOK 43 million has been expensed in the period from 10 November to 31 December 2023. The expense is calculated based on the share price at listing of NOK 19 multiplied with the number of shares that is expected to vest. Social security taxes are calculated based on the share price at each balance sheet date. The Group does not have any other options outstanding at 31 December 2023 and 2022.From 2024 an annual share program for all employees will be introduced. In this program employees are offered to buy shares with a 20% discount on market price and the total yearly purchase price before discount is capped at NOK 30 000. In addition, a matching share program will be introduced. In the matching share program employees are offered to buy shares at market price for a total of NOK 30 000 yearly. If the employee still is employed and the shares are still owned, the employee will receive 40% additional shares after 3 years and 60% additional shares after 5 years, in total 1 share for each share bought. The annual cost of these programs including social security taxes is capped at NOK 50 million. The cost related to the 20% discount program will be expensed over Q1 and Q2. The cost related to the mathcing share program will be allocated over the vesting period of three and five years.Further, the Norconsult Board of Directors have established a share-based incentive program for the Group management team whereby all members are required to use 25% of their bonus to purchase shares in Norconsult with a 20% discount and with the right to matching shares as in the program described above. In addition, 25% of their total bonus potential can be used to purchase shares with a 20% discount. Shares purchased in these programs will have a 2-year lock-up. Tier 3 managers can purchase shares for up to 25% of their potential variable salary with a 20% discount and with the right to receive matching shares as in the program described above. These shares have a 2-year lock-up.The annual cost of the programs for the management team and tier 3 management is capped at NOK 10 million. See the Groups remuneration report for further information. 2022:Under the share program valid up to and including 2022 the employees were invited to purchase shares in the Company at certain intervals. In 2022 the shares were sold to the employees at a value equal to the shares relative portion of the Group\u2019s equity, which was calculated to NOK 5.56 per share for the 2022 allocation of shares. The fair value of the share was determined by an external appraiser specializing in such valuations and using generally accepted valuation techniques. The technique used estimates the fair value based on expected future cash flows, which were reduced due to certain limitations on the transferability of the shares that were applicable in 2022 and earlier. The fair value was estimated to be NOK 16.80 per share, and the employee benefit was thus NOK 11.24 per share. During 2022 the employees were allocated 7 727 675 shares and the shares vested at the time of allocation. The total employee benefit for 2022 was calculated to NOK 82 million, which, in addition to social security taxes of NOK 13 million, was expensed as salaries and personnel costs and are included in the table above. In 2023 social security taxes of NOK 2 million related to this program was reversed upon true-up at date of distribution.",
"dimensions": {
"concept": "ifrs-full:DisclosureOfSharebasedPaymentArrangementsExplanatory",
"language": "en",
"entity": "scheme:635400VFBLRSFRXLGQ03",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"s8_notes__6__79": {
"value": "Accounting policyThe Group has certain share-based payment programs for executives and employees. The programs are assessed to be equity-settled and the cost of the transactions is determined by the fair value at the date when the grant is made using an appropriate valuation model. The calculated cost is recognised in employee benefits expense, together with a corresponding increase in equity (other paid-in capital), over the period in which the service and, where applicable, the performance conditions, are fulfilled. The cumulative expense recognised for equity-settled transactions at each reporting date until the vesting date reflects the extent to which the vesting period has expired and the Group\u2019s best estimate of the number of equity instruments that will ultimately vest.",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForSharebasedPaymentTransactionsExplanatory",
"language": "en",
"entity": "scheme:635400VFBLRSFRXLGQ03",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"s8_notes__6__78": {
"value": "Accounting policyThe Group has certain share-based payment programs for executives and employees. The programs are assessed to be equity-settled and the cost of the transactions is determined by the fair value at the date when the grant is made using an appropriate valuation model. The calculated cost is recognised in employee benefits expense, together with a corresponding increase in equity (other paid-in capital), over the period in which the service and, where applicable, the performance conditions, are fulfilled. The cumulative expense recognised for equity-settled transactions at each reporting date until the vesting date reflects the extent to which the vesting period has expired and the Group\u2019s best estimate of the number of equity instruments that will ultimately vest.",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForEmployeeBenefitsExplanatory",
"language": "en",
"entity": "scheme:635400VFBLRSFRXLGQ03",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"s8_notes__6__88-1": {
"value": "10. Intangible assetsAccounting policyThe Group\u2019s intangible assets excluding goodwill are customer relations and contracts acquired in business combinations, licenses and software. Intangible assets acquired separately are measured on initial recognition at cost. The cost of intangible assets acquired in a business combination is their fair value at the date of acquisition. Following initial recognition, intangible assets are carried at cost less any accumulated amortisation and accumulated impairment losses. Internally generated intangibles, excluding capitalised development costs, are not capitalised and the related expenditure is reflected in profit or loss in the period in which the expenditure is incurred.The useful lives of intangible assets are assessed as either finite or indefinite. Intangible assets with finite lives are amortised over the useful economic life and assessed for impairment whenever there is an indication that the intangible asset may be impaired. The amortisation period and the amortisation method for an intangible asset with a finite useful life are reviewed at least at the end of each reporting period. Changes in the expected useful life or the expected pattern of consumption of future economic benefits from the asset are considered to modify the amortisation period or method, as appropriate, and are treated as changes in accounting estimates. Intangible assets with indefinite useful lives are not amortised, but are tested for impairment annually, either individually or at the cash-generating unit level. Amortisation is performed on a straight-line basis over the estimated useful lives of the intangible asset:Licenses and software 5-10 yearsCustomer relations 5-10 yearsCustomer contracts 1 - 2 yearsSignificant accounting judgements, estimates and assumptionsWhen determining the recoverable amount of goodwill, the Group makes assumptions and estimates key variables about the future cash flows from cash-generating-units. These estimations have included consideration of possible effects of the current increase in inflation and interest rates and increased future economic uncertainty. Impairment tests indicate no requirement to make write-downs nor does sensitivity analysis with reasonable changes in assumptions. However, future outcomes may deviate materially from the estimates to the extent that write-down of goodwill is required.With respect to climate risks and opportunities, three scenarios have been examined and assessed for financial materiality and their potential impact on Norconsult\u2019s business model and strategy. As a result of this scenario analysis, two financially material climate-related risks were identified: - Risk 1: Changing demand for services - Risk 2: Regulatory changes create demand for new knowledge to win contractsIn addition, three material climate-related opportunities were identified: - Opportunity 1: Severe weather increases demand for services - Opportunity 2: Low-carbon solutions increases demand for services - Opportunity 3: Renewable energy sources increases demand for servicesNorconsult experience transition risk in that the advice and solutions that we plan and design must comply with relevant changes in policy, technology, laws, regulations and standards. This requires a dynamic and adaptable management system and skilled employees. This will affect both our market and its stakeholders, creating both a risk of reduction in the services we currently provide, but also opportunities to provide additional services in current and new professional disciplines.The Group has considered climate risk in relation to the impairment testing of goodwill and the potential effect on future cash flows. No material effects were identified for 2022 and 2023. 2023 2023 2022 2022 Goodwill Other intangible Goodwill Other intangible assets assetsAcquisition cost as of 1.1. 943 148 755 96 Addition from business combination 41 5 179 23 Addition 0 23 0 30 Disposals 0 -5 0 0 Translation differences 19 5 9 -1 Acquisition cost as of 31.12. 1 003 175 943 148 Accumulated amortisation and impairment 0 -78 0 -59 as of 1.1Amortisations 0 -17 0 -15 Impairments 0 -4 0 -5 Disposal 0 5 0 0 Translation differences 0 -3 0 1 Accumulated amortisation and impairment 0 -97 0 -78 as of 31.12Carrying amount 1 003 78 943 70 By business area Norway Head Office 424 0 422 0 Norway Regions 130 0 125 0 Renewable Energy 101 0 100 0 Sweden 46 0 43 0 Denmark 261 0 211 0 Digital and Technogarden 42 0 42 0 Licenses and software acquired 0 4 0 16 Licenses and software internally developed 0 53 0 30 Customer relations and contracts capitalised on 0 21 0 24 acquisitionTotal 1003 78 943 70 Licenses and software capitalised during the year amounted to NOK 23 million (2022: NOK 30 million) and were mainly related to the development of software for use in the Group\u2019s Digital business as well as software for internal use. The carrying value of software for internal use amounts to NOK 16 million (2022: NOK 10 million). The remaining amortisation period for other intangible assets is approximately 5 years.No impairment of goodwill has been identified for 2023. Software developed for specific customers were written down with NOK 4 million (2022: NOK 5 million).Additions from business combinations are customer relations and customer contracts, see note 5.Impairment test of goodwill is carried out annually during the fourth quarter. Estimated future cash flows per cash-generating-unit (CGU) are discounted using the weighted average cost of capital for the CGU. The net present value of future cash flows is compared to the carrying value of goodwill per CGU. The forecasts for future cash flows are the operating budget for the following year approved by Group management and the Board. Thereafter an annual growth in the cash flow of 1.3% is estimated. Discount rates are estimated based on risk free interest rate (10-year government bond), company specific risks and beta values per CGU and are as follows:Discount rate before tax in % 2023 2022Norway Head Office 11,1 % 11,3 %Norway Regions 11,1 % 11,3 %Renewable Energy 11,1 % 11,3 %Sweden 10,0 % 9,7 %Denmark 10,2 % 10,1 %Digitalisation and Technogarden 11,1 % 11,3 %The change in discount rates from 2022 to 2023 are the net effect of an increase in the risk free interest rate and a reduction of the liquidity risk premium following the stock listing of the Company\u2019s shares. The calculation of value in use is sensitive to the estimates for revenues, operating margin, discount rate and terminal growth. No impairment is identified for reasonably possible change in key assumptions.11. Property, plant and equipmentAccounting policyThe Group\u2019s main items of property, plant and equipment are leasehold improvements, fixtures and furniture and office machinery. The Group leases all office buildings, see note 12. Plant and equipment are stated at cost, net of accumulated depreciation and accumulated impairment losses, if any. Cost includes costs that are directly attributable to the acquisition of the asset. Estimated useful lives are as follows:Fixtures, fittings, and office equipment 3-10 years 2023 2022 Land, offices Machinery, Total Land, offices Machinery, Totaland buildingscars, office and buildingscars, office equipment etcequipment etcAcquisition cost 5 646 651 6 602 608 Accumulated depreciation -4 -489 -492 -3 -446 -449 Carrying amount 1 157 159 3 156 159 Opening carrying amount 3 156 159 6 145 151 Addition from business combination 0 2 2 0 4 4 Addition 0 59 59 0 69 69 Disposals -2 -2 -4 -3 -2 -5 Depreciation -1 -62 -62 0 -59 -59 Impairments 0 0 0 0 0 0 Translation differences 0 4 4 0 -1 -1 Closing carrying amount 1 157 158 3 156 159 Depreciation method Linear Linear Linear Linear Depreciation period 0 - 30 years 3-10 years 0 - 30 years 3-10 years12. LeasesAccounting policyThe Group leases all office buildings. Leases are also generally used for IT equipment, office machines, motor vehicles and to some extent mobile phones.Leases are recognised as a right-of-use assets and a corresponding liability at the commencement date of the lease (i.e., the date the underlying asset is available for use). Each lease payment is allocated between the liability and finance cost. The finance costs are charged to profit over the lease period based on the remaining balance of the liability for each period. Right-of-use assets are recognised at cost less depreciation and impairment loss. Assets are depreciated on a straight-line basis over the shorter of the lease term and the estimated useful lives of the assets, as follows: Office buildings: 1 to 17 yearsIT equipment: 1 to 6 yearsMotor vehicles and other equipment: 1 to 9 yearsIf ownership of the leased asset transfers to the Group at the end of the lease term or the cost reflects the exercise of a purchase option, depreciation is calculated using the estimated useful life of the asset. The right-of-use assets are also subject to impairment. The lease liabilities include the net present value of lease payments to be made over the lease term. The lease payments include fixed payments less any lease incentives receivable, variable lease payments that depend on an index or a rate, and amounts expected to be paid under residual value guarantees. Several of the Group\u2019s leases include options for renewal of the leases. Options that are reasonably certain to be exercised, considering office size and growth, potential for relocation with other Norconsult offices, rent level and location of the office relative to alternative locations in the relevant area are included in lease payments. Lease options for long-term contracts, mainly over 3-4 years, are not taken into account as there are constant changes to the Group and it is difficult to assess the probability of future renewals. In calculating the present value of lease payments, the Group uses its incremental borrowing rate at the lease commencement date because the interest rate implicit in the lease is not readily determinable. After the commencement date, the amount of lease liabilities is increased to reflect the accretion of interest and reduced for the lease payments made. In addition, the carrying amount of lease liabilities is remeasured if there is a modification, a change in the lease term, a change in the lease payments or a change in the assessment of an option to purchase the underlying asset. The Group applies the short-term lease recognition exemption to its short-term leases of certain office locations, smaller machinery and equipment (i.e., those leases that have a lease term of 12 months or less from the commencement date and do not contain a purchase option). It also applies the lease of low-value assets recognition exemption to leases of office equipment that are considered to be low value. Lease payments on short-term leases and leases of low-value assets are recognised as expense on a straight-line basis over the lease term.Right-of-use asset 2023 2022Opening carrying amount 1 528 1 613 New leases 142 161 Addition through acquisitions 22 12 Changes in existing leases 212 72 Depreciation for the year -376 -325 Translation differences 18 -4 Closing carrying amount 1 546 1 528 Office property 1 448 1 453 Cars, IT equipment and office machines 98 75 Total 1 546 1 528 Amounts recognised in profit and loss 2023 2022Depreciation office property 315 277 Depreciation cars, office- and IT-equipment 61 48 Interest expense on lease liabilities 34 31 Cost of short-term leases 9 4 Cost of low-value leases 6 3 Total amount recognised in the statement of income 425 363 Lease liabilities 2023 2022Non-current 1 226 1 241 Current 354 310 Total 1 580 1 552 Maturity of undiscounted lease commitments 2023 2022Within one year 385 337 Between 1 and 5 years 1 049 968 Over 5 years 237 337 Total undiscounted lease liabilities 1 671 1 642 Movement in the lease liability 2023 2022Carrying amount at 1 January 1 552 1 625 Amortisation of debt, cash flow -399 -342 New leases and revaluation 354 233 Increase through acquisition 22 12 Interest expense 34 31 Translation differences 18 -7 Carrying amount at 31 December 1 580 1 552 The Group has six material leases that are committed and that commence in 2024 through 2026. The average length of the leases is 10 years, and the average annual rent is NOK 5.5 million.",
"dimensions": {
"concept": "ifrs-full:DisclosureOfDepreciationAndAmortisationExpenseExplanatory",
"language": "en",
"entity": "scheme:635400VFBLRSFRXLGQ03",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"s8_notes__6__87": {
"value": "10. Intangible assetsAccounting policyThe Group\u2019s intangible assets excluding goodwill are customer relations and contracts acquired in business combinations, licenses and software. Intangible assets acquired separately are measured on initial recognition at cost. The cost of intangible assets acquired in a business combination is their fair value at the date of acquisition. Following initial recognition, intangible assets are carried at cost less any accumulated amortisation and accumulated impairment losses. Internally generated intangibles, excluding capitalised development costs, are not capitalised and the related expenditure is reflected in profit or loss in the period in which the expenditure is incurred.The useful lives of intangible assets are assessed as either finite or indefinite. Intangible assets with finite lives are amortised over the useful economic life and assessed for impairment whenever there is an indication that the intangible asset may be impaired. The amortisation period and the amortisation method for an intangible asset with a finite useful life are reviewed at least at the end of each reporting period. Changes in the expected useful life or the expected pattern of consumption of future economic benefits from the asset are considered to modify the amortisation period or method, as appropriate, and are treated as changes in accounting estimates. Intangible assets with indefinite useful lives are not amortised, but are tested for impairment annually, either individually or at the cash-generating unit level. Amortisation is performed on a straight-line basis over the estimated useful lives of the intangible asset:Licenses and software 5-10 yearsCustomer relations 5-10 yearsCustomer contracts 1 - 2 yearsSignificant accounting judgements, estimates and assumptionsWhen determining the recoverable amount of goodwill, the Group makes assumptions and estimates key variables about the future cash flows from cash-generating-units. These estimations have included consideration of possible effects of the current increase in inflation and interest rates and increased future economic uncertainty. Impairment tests indicate no requirement to make write-downs nor does sensitivity analysis with reasonable changes in assumptions. However, future outcomes may deviate materially from the estimates to the extent that write-down of goodwill is required.With respect to climate risks and opportunities, three scenarios have been examined and assessed for financial materiality and their potential impact on Norconsult\u2019s business model and strategy. As a result of this scenario analysis, two financially material climate-related risks were identified: - Risk 1: Changing demand for services - Risk 2: Regulatory changes create demand for new knowledge to win contractsIn addition, three material climate-related opportunities were identified: - Opportunity 1: Severe weather increases demand for services - Opportunity 2: Low-carbon solutions increases demand for services - Opportunity 3: Renewable energy sources increases demand for servicesNorconsult experience transition risk in that the advice and solutions that we plan and design must comply with relevant changes in policy, technology, laws, regulations and standards. This requires a dynamic and adaptable management system and skilled employees. This will affect both our market and its stakeholders, creating both a risk of reduction in the services we currently provide, but also opportunities to provide additional services in current and new professional disciplines.The Group has considered climate risk in relation to the impairment testing of goodwill and the potential effect on future cash flows. No material effects were identified for 2022 and 2023. 2023 2023 2022 2022 Goodwill Other intangible Goodwill Other intangible assets assetsAcquisition cost as of 1.1. 943 148 755 96 Addition from business combination 41 5 179 23 Addition 0 23 0 30 Disposals 0 -5 0 0 Translation differences 19 5 9 -1 Acquisition cost as of 31.12. 1 003 175 943 148 Accumulated amortisation and impairment 0 -78 0 -59 as of 1.1Amortisations 0 -17 0 -15 Impairments 0 -4 0 -5 Disposal 0 5 0 0 Translation differences 0 -3 0 1 Accumulated amortisation and impairment 0 -97 0 -78 as of 31.12Carrying amount 1 003 78 943 70 By business area Norway Head Office 424 0 422 0 Norway Regions 130 0 125 0 Renewable Energy 101 0 100 0 Sweden 46 0 43 0 Denmark 261 0 211 0 Digital and Technogarden 42 0 42 0 Licenses and software acquired 0 4 0 16 Licenses and software internally developed 0 53 0 30 Customer relations and contracts capitalised on 0 21 0 24 acquisitionTotal 1003 78 943 70 Licenses and software capitalised during the year amounted to NOK 23 million (2022: NOK 30 million) and were mainly related to the development of software for use in the Group\u2019s Digital business as well as software for internal use. The carrying value of software for internal use amounts to NOK 16 million (2022: NOK 10 million). The remaining amortisation period for other intangible assets is approximately 5 years.No impairment of goodwill has been identified for 2023. Software developed for specific customers were written down with NOK 4 million (2022: NOK 5 million).Additions from business combinations are customer relations and customer contracts, see note 5.Impairment test of goodwill is carried out annually during the fourth quarter. Estimated future cash flows per cash-generating-unit (CGU) are discounted using the weighted average cost of capital for the CGU. The net present value of future cash flows is compared to the carrying value of goodwill per CGU. The forecasts for future cash flows are the operating budget for the following year approved by Group management and the Board. Thereafter an annual growth in the cash flow of 1.3% is estimated. Discount rates are estimated based on risk free interest rate (10-year government bond), company specific risks and beta values per CGU and are as follows:Discount rate before tax in % 2023 2022Norway Head Office 11,1 % 11,3 %Norway Regions 11,1 % 11,3 %Renewable Energy 11,1 % 11,3 %Sweden 10,0 % 9,7 %Denmark 10,2 % 10,1 %Digitalisation and Technogarden 11,1 % 11,3 %The change in discount rates from 2022 to 2023 are the net effect of an increase in the risk free interest rate and a reduction of the liquidity risk premium following the stock listing of the Company\u2019s shares. The calculation of value in use is sensitive to the estimates for revenues, operating margin, discount rate and terminal growth. No impairment is identified for reasonably possible change in key assumptions.",
"dimensions": {
"concept": "ifrs-full:DisclosureOfImpairmentOfAssetsExplanatory",
"language": "en",
"entity": "scheme:635400VFBLRSFRXLGQ03",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"s8_notes__6__83": {
"value": "10. Intangible assetsAccounting policyThe Group\u2019s intangible assets excluding goodwill are customer relations and contracts acquired in business combinations, licenses and software. Intangible assets acquired separately are measured on initial recognition at cost. The cost of intangible assets acquired in a business combination is their fair value at the date of acquisition. Following initial recognition, intangible assets are carried at cost less any accumulated amortisation and accumulated impairment losses. Internally generated intangibles, excluding capitalised development costs, are not capitalised and the related expenditure is reflected in profit or loss in the period in which the expenditure is incurred.The useful lives of intangible assets are assessed as either finite or indefinite. Intangible assets with finite lives are amortised over the useful economic life and assessed for impairment whenever there is an indication that the intangible asset may be impaired. The amortisation period and the amortisation method for an intangible asset with a finite useful life are reviewed at least at the end of each reporting period. Changes in the expected useful life or the expected pattern of consumption of future economic benefits from the asset are considered to modify the amortisation period or method, as appropriate, and are treated as changes in accounting estimates. Intangible assets with indefinite useful lives are not amortised, but are tested for impairment annually, either individually or at the cash-generating unit level. Amortisation is performed on a straight-line basis over the estimated useful lives of the intangible asset:Licenses and software 5-10 yearsCustomer relations 5-10 yearsCustomer contracts 1 - 2 yearsSignificant accounting judgements, estimates and assumptionsWhen determining the recoverable amount of goodwill, the Group makes assumptions and estimates key variables about the future cash flows from cash-generating-units. These estimations have included consideration of possible effects of the current increase in inflation and interest rates and increased future economic uncertainty. Impairment tests indicate no requirement to make write-downs nor does sensitivity analysis with reasonable changes in assumptions. However, future outcomes may deviate materially from the estimates to the extent that write-down of goodwill is required.With respect to climate risks and opportunities, three scenarios have been examined and assessed for financial materiality and their potential impact on Norconsult\u2019s business model and strategy. As a result of this scenario analysis, two financially material climate-related risks were identified: - Risk 1: Changing demand for services - Risk 2: Regulatory changes create demand for new knowledge to win contractsIn addition, three material climate-related opportunities were identified: - Opportunity 1: Severe weather increases demand for services - Opportunity 2: Low-carbon solutions increases demand for services - Opportunity 3: Renewable energy sources increases demand for servicesNorconsult experience transition risk in that the advice and solutions that we plan and design must comply with relevant changes in policy, technology, laws, regulations and standards. This requires a dynamic and adaptable management system and skilled employees. This will affect both our market and its stakeholders, creating both a risk of reduction in the services we currently provide, but also opportunities to provide additional services in current and new professional disciplines.The Group has considered climate risk in relation to the impairment testing of goodwill and the potential effect on future cash flows. No material effects were identified for 2022 and 2023. 2023 2023 2022 2022 Goodwill Other intangible Goodwill Other intangible assets assetsAcquisition cost as of 1.1. 943 148 755 96 Addition from business combination 41 5 179 23 Addition 0 23 0 30 Disposals 0 -5 0 0 Translation differences 19 5 9 -1 Acquisition cost as of 31.12. 1 003 175 943 148 Accumulated amortisation and impairment 0 -78 0 -59 as of 1.1Amortisations 0 -17 0 -15 Impairments 0 -4 0 -5 Disposal 0 5 0 0 Translation differences 0 -3 0 1 Accumulated amortisation and impairment 0 -97 0 -78 as of 31.12Carrying amount 1 003 78 943 70 By business area Norway Head Office 424 0 422 0 Norway Regions 130 0 125 0 Renewable Energy 101 0 100 0 Sweden 46 0 43 0 Denmark 261 0 211 0 Digital and Technogarden 42 0 42 0 Licenses and software acquired 0 4 0 16 Licenses and software internally developed 0 53 0 30 Customer relations and contracts capitalised on 0 21 0 24 acquisitionTotal 1003 78 943 70 Licenses and software capitalised during the year amounted to NOK 23 million (2022: NOK 30 million) and were mainly related to the development of software for use in the Group\u2019s Digital business as well as software for internal use. The carrying value of software for internal use amounts to NOK 16 million (2022: NOK 10 million). The remaining amortisation period for other intangible assets is approximately 5 years.No impairment of goodwill has been identified for 2023. Software developed for specific customers were written down with NOK 4 million (2022: NOK 5 million).Additions from business combinations are customer relations and customer contracts, see note 5.Impairment test of goodwill is carried out annually during the fourth quarter. Estimated future cash flows per cash-generating-unit (CGU) are discounted using the weighted average cost of capital for the CGU. The net present value of future cash flows is compared to the carrying value of goodwill per CGU. The forecasts for future cash flows are the operating budget for the following year approved by Group management and the Board. Thereafter an annual growth in the cash flow of 1.3% is estimated. Discount rates are estimated based on risk free interest rate (10-year government bond), company specific risks and beta values per CGU and are as follows:Discount rate before tax in % 2023 2022Norway Head Office 11,1 % 11,3 %Norway Regions 11,1 % 11,3 %Renewable Energy 11,1 % 11,3 %Sweden 10,0 % 9,7 %Denmark 10,2 % 10,1 %Digitalisation and Technogarden 11,1 % 11,3 %The change in discount rates from 2022 to 2023 are the net effect of an increase in the risk free interest rate and a reduction of the liquidity risk premium following the stock listing of the Company\u2019s shares. The calculation of value in use is sensitive to the estimates for revenues, operating margin, discount rate and terminal growth. No impairment is identified for reasonably possible change in key assumptions.",
"dimensions": {
"concept": "ifrs-full:DisclosureOfGoodwillExplanatory",
"language": "en",
"entity": "scheme:635400VFBLRSFRXLGQ03",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"s8_notes__6__82": {
"value": "10. Intangible assetsAccounting policyThe Group\u2019s intangible assets excluding goodwill are customer relations and contracts acquired in business combinations, licenses and software. Intangible assets acquired separately are measured on initial recognition at cost. The cost of intangible assets acquired in a business combination is their fair value at the date of acquisition. Following initial recognition, intangible assets are carried at cost less any accumulated amortisation and accumulated impairment losses. Internally generated intangibles, excluding capitalised development costs, are not capitalised and the related expenditure is reflected in profit or loss in the period in which the expenditure is incurred.The useful lives of intangible assets are assessed as either finite or indefinite. Intangible assets with finite lives are amortised over the useful economic life and assessed for impairment whenever there is an indication that the intangible asset may be impaired. The amortisation period and the amortisation method for an intangible asset with a finite useful life are reviewed at least at the end of each reporting period. Changes in the expected useful life or the expected pattern of consumption of future economic benefits from the asset are considered to modify the amortisation period or method, as appropriate, and are treated as changes in accounting estimates. Intangible assets with indefinite useful lives are not amortised, but are tested for impairment annually, either individually or at the cash-generating unit level. Amortisation is performed on a straight-line basis over the estimated useful lives of the intangible asset:Licenses and software 5-10 yearsCustomer relations 5-10 yearsCustomer contracts 1 - 2 yearsSignificant accounting judgements, estimates and assumptionsWhen determining the recoverable amount of goodwill, the Group makes assumptions and estimates key variables about the future cash flows from cash-generating-units. These estimations have included consideration of possible effects of the current increase in inflation and interest rates and increased future economic uncertainty. Impairment tests indicate no requirement to make write-downs nor does sensitivity analysis with reasonable changes in assumptions. However, future outcomes may deviate materially from the estimates to the extent that write-down of goodwill is required.With respect to climate risks and opportunities, three scenarios have been examined and assessed for financial materiality and their potential impact on Norconsult\u2019s business model and strategy. As a result of this scenario analysis, two financially material climate-related risks were identified: - Risk 1: Changing demand for services - Risk 2: Regulatory changes create demand for new knowledge to win contractsIn addition, three material climate-related opportunities were identified: - Opportunity 1: Severe weather increases demand for services - Opportunity 2: Low-carbon solutions increases demand for services - Opportunity 3: Renewable energy sources increases demand for servicesNorconsult experience transition risk in that the advice and solutions that we plan and design must comply with relevant changes in policy, technology, laws, regulations and standards. This requires a dynamic and adaptable management system and skilled employees. This will affect both our market and its stakeholders, creating both a risk of reduction in the services we currently provide, but also opportunities to provide additional services in current and new professional disciplines.The Group has considered climate risk in relation to the impairment testing of goodwill and the potential effect on future cash flows. No material effects were identified for 2022 and 2023. 2023 2023 2022 2022 Goodwill Other intangible Goodwill Other intangible assets assetsAcquisition cost as of 1.1. 943 148 755 96 Addition from business combination 41 5 179 23 Addition 0 23 0 30 Disposals 0 -5 0 0 Translation differences 19 5 9 -1 Acquisition cost as of 31.12. 1 003 175 943 148 Accumulated amortisation and impairment 0 -78 0 -59 as of 1.1Amortisations 0 -17 0 -15 Impairments 0 -4 0 -5 Disposal 0 5 0 0 Translation differences 0 -3 0 1 Accumulated amortisation and impairment 0 -97 0 -78 as of 31.12Carrying amount 1 003 78 943 70 By business area Norway Head Office 424 0 422 0 Norway Regions 130 0 125 0 Renewable Energy 101 0 100 0 Sweden 46 0 43 0 Denmark 261 0 211 0 Digital and Technogarden 42 0 42 0 Licenses and software acquired 0 4 0 16 Licenses and software internally developed 0 53 0 30 Customer relations and contracts capitalised on 0 21 0 24 acquisitionTotal 1003 78 943 70 Licenses and software capitalised during the year amounted to NOK 23 million (2022: NOK 30 million) and were mainly related to the development of software for use in the Group\u2019s Digital business as well as software for internal use. The carrying value of software for internal use amounts to NOK 16 million (2022: NOK 10 million). The remaining amortisation period for other intangible assets is approximately 5 years.No impairment of goodwill has been identified for 2023. Software developed for specific customers were written down with NOK 4 million (2022: NOK 5 million).Additions from business combinations are customer relations and customer contracts, see note 5.Impairment test of goodwill is carried out annually during the fourth quarter. Estimated future cash flows per cash-generating-unit (CGU) are discounted using the weighted average cost of capital for the CGU. The net present value of future cash flows is compared to the carrying value of goodwill per CGU. The forecasts for future cash flows are the operating budget for the following year approved by Group management and the Board. Thereafter an annual growth in the cash flow of 1.3% is estimated. Discount rates are estimated based on risk free interest rate (10-year government bond), company specific risks and beta values per CGU and are as follows:Discount rate before tax in % 2023 2022Norway Head Office 11,1 % 11,3 %Norway Regions 11,1 % 11,3 %Renewable Energy 11,1 % 11,3 %Sweden 10,0 % 9,7 %Denmark 10,2 % 10,1 %Digitalisation and Technogarden 11,1 % 11,3 %The change in discount rates from 2022 to 2023 are the net effect of an increase in the risk free interest rate and a reduction of the liquidity risk premium following the stock listing of the Company\u2019s shares. The calculation of value in use is sensitive to the estimates for revenues, operating margin, discount rate and terminal growth. No impairment is identified for reasonably possible change in key assumptions.",
"dimensions": {
"concept": "ifrs-full:DisclosureOfIntangibleAssetsExplanatory",
"language": "en",
"entity": "scheme:635400VFBLRSFRXLGQ03",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"s8_notes__6__81": {
"value": "10. Intangible assetsAccounting policyThe Group\u2019s intangible assets excluding goodwill are customer relations and contracts acquired in business combinations, licenses and software. Intangible assets acquired separately are measured on initial recognition at cost. The cost of intangible assets acquired in a business combination is their fair value at the date of acquisition. Following initial recognition, intangible assets are carried at cost less any accumulated amortisation and accumulated impairment losses. Internally generated intangibles, excluding capitalised development costs, are not capitalised and the related expenditure is reflected in profit or loss in the period in which the expenditure is incurred.The useful lives of intangible assets are assessed as either finite or indefinite. Intangible assets with finite lives are amortised over the useful economic life and assessed for impairment whenever there is an indication that the intangible asset may be impaired. The amortisation period and the amortisation method for an intangible asset with a finite useful life are reviewed at least at the end of each reporting period. Changes in the expected useful life or the expected pattern of consumption of future economic benefits from the asset are considered to modify the amortisation period or method, as appropriate, and are treated as changes in accounting estimates. Intangible assets with indefinite useful lives are not amortised, but are tested for impairment annually, either individually or at the cash-generating unit level. Amortisation is performed on a straight-line basis over the estimated useful lives of the intangible asset:Licenses and software 5-10 yearsCustomer relations 5-10 yearsCustomer contracts 1 - 2 yearsSignificant accounting judgements, estimates and assumptionsWhen determining the recoverable amount of goodwill, the Group makes assumptions and estimates key variables about the future cash flows from cash-generating-units. These estimations have included consideration of possible effects of the current increase in inflation and interest rates and increased future economic uncertainty. Impairment tests indicate no requirement to make write-downs nor does sensitivity analysis with reasonable changes in assumptions. However, future outcomes may deviate materially from the estimates to the extent that write-down of goodwill is required.With respect to climate risks and opportunities, three scenarios have been examined and assessed for financial materiality and their potential impact on Norconsult\u2019s business model and strategy. As a result of this scenario analysis, two financially material climate-related risks were identified: - Risk 1: Changing demand for services - Risk 2: Regulatory changes create demand for new knowledge to win contractsIn addition, three material climate-related opportunities were identified: - Opportunity 1: Severe weather increases demand for services - Opportunity 2: Low-carbon solutions increases demand for services - Opportunity 3: Renewable energy sources increases demand for servicesNorconsult experience transition risk in that the advice and solutions that we plan and design must comply with relevant changes in policy, technology, laws, regulations and standards. This requires a dynamic and adaptable management system and skilled employees. This will affect both our market and its stakeholders, creating both a risk of reduction in the services we currently provide, but also opportunities to provide additional services in current and new professional disciplines.The Group has considered climate risk in relation to the impairment testing of goodwill and the potential effect on future cash flows. No material effects were identified for 2022 and 2023. 2023 2023 2022 2022 Goodwill Other intangible Goodwill Other intangible assets assetsAcquisition cost as of 1.1. 943 148 755 96 Addition from business combination 41 5 179 23 Addition 0 23 0 30 Disposals 0 -5 0 0 Translation differences 19 5 9 -1 Acquisition cost as of 31.12. 1 003 175 943 148 Accumulated amortisation and impairment 0 -78 0 -59 as of 1.1Amortisations 0 -17 0 -15 Impairments 0 -4 0 -5 Disposal 0 5 0 0 Translation differences 0 -3 0 1 Accumulated amortisation and impairment 0 -97 0 -78 as of 31.12Carrying amount 1 003 78 943 70 By business area Norway Head Office 424 0 422 0 Norway Regions 130 0 125 0 Renewable Energy 101 0 100 0 Sweden 46 0 43 0 Denmark 261 0 211 0 Digital and Technogarden 42 0 42 0 Licenses and software acquired 0 4 0 16 Licenses and software internally developed 0 53 0 30 Customer relations and contracts capitalised on 0 21 0 24 acquisitionTotal 1003 78 943 70 Licenses and software capitalised during the year amounted to NOK 23 million (2022: NOK 30 million) and were mainly related to the development of software for use in the Group\u2019s Digital business as well as software for internal use. The carrying value of software for internal use amounts to NOK 16 million (2022: NOK 10 million). The remaining amortisation period for other intangible assets is approximately 5 years.No impairment of goodwill has been identified for 2023. Software developed for specific customers were written down with NOK 4 million (2022: NOK 5 million).Additions from business combinations are customer relations and customer contracts, see note 5.Impairment test of goodwill is carried out annually during the fourth quarter. Estimated future cash flows per cash-generating-unit (CGU) are discounted using the weighted average cost of capital for the CGU. The net present value of future cash flows is compared to the carrying value of goodwill per CGU. The forecasts for future cash flows are the operating budget for the following year approved by Group management and the Board. Thereafter an annual growth in the cash flow of 1.3% is estimated. Discount rates are estimated based on risk free interest rate (10-year government bond), company specific risks and beta values per CGU and are as follows:Discount rate before tax in % 2023 2022Norway Head Office 11,1 % 11,3 %Norway Regions 11,1 % 11,3 %Renewable Energy 11,1 % 11,3 %Sweden 10,0 % 9,7 %Denmark 10,2 % 10,1 %Digitalisation and Technogarden 11,1 % 11,3 %The change in discount rates from 2022 to 2023 are the net effect of an increase in the risk free interest rate and a reduction of the liquidity risk premium following the stock listing of the Company\u2019s shares. The calculation of value in use is sensitive to the estimates for revenues, operating margin, discount rate and terminal growth. No impairment is identified for reasonably possible change in key assumptions.",
"dimensions": {
"concept": "ifrs-full:DisclosureOfIntangibleAssetsAndGoodwillExplanatory",
"language": "en",
"entity": "scheme:635400VFBLRSFRXLGQ03",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"s8_notes__6__85": {
"value": "Accounting policyThe Group\u2019s intangible assets excluding goodwill are customer relations and contracts acquired in business combinations, licenses and software. Intangible assets acquired separately are measured on initial recognition at cost. The cost of intangible assets acquired in a business combination is their fair value at the date of acquisition. Following initial recognition, intangible assets are carried at cost less any accumulated amortisation and accumulated impairment losses. Internally generated intangibles, excluding capitalised development costs, are not capitalised and the related expenditure is reflected in profit or loss in the period in which the expenditure is incurred.The useful lives of intangible assets are assessed as either finite or indefinite. Intangible assets with finite lives are amortised over the useful economic life and assessed for impairment whenever there is an indication that the intangible asset may be impaired. The amortisation period and the amortisation method for an intangible asset with a finite useful life are reviewed at least at the end of each reporting period. Changes in the expected useful life or the expected pattern of consumption of future economic benefits from the asset are considered to modify the amortisation period or method, as appropriate, and are treated as changes in accounting estimates. Intangible assets with indefinite useful lives are not amortised, but are tested for impairment annually, either individually or at the cash-generating unit level. Amortisation is performed on a straight-line basis over the estimated useful lives of the intangible asset:Licenses and software 5-10 yearsCustomer relations 5-10 yearsCustomer contracts 1 - 2 years",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForIntangibleAssetsOtherThanGoodwillExplanatory",
"language": "en",
"entity": "scheme:635400VFBLRSFRXLGQ03",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"s8_notes__6__84": {
"value": "Accounting policyThe Group\u2019s intangible assets excluding goodwill are customer relations and contracts acquired in business combinations, licenses and software. Intangible assets acquired separately are measured on initial recognition at cost. The cost of intangible assets acquired in a business combination is their fair value at the date of acquisition. Following initial recognition, intangible assets are carried at cost less any accumulated amortisation and accumulated impairment losses. Internally generated intangibles, excluding capitalised development costs, are not capitalised and the related expenditure is reflected in profit or loss in the period in which the expenditure is incurred.The useful lives of intangible assets are assessed as either finite or indefinite. Intangible assets with finite lives are amortised over the useful economic life and assessed for impairment whenever there is an indication that the intangible asset may be impaired. The amortisation period and the amortisation method for an intangible asset with a finite useful life are reviewed at least at the end of each reporting period. Changes in the expected useful life or the expected pattern of consumption of future economic benefits from the asset are considered to modify the amortisation period or method, as appropriate, and are treated as changes in accounting estimates. Intangible assets with indefinite useful lives are not amortised, but are tested for impairment annually, either individually or at the cash-generating unit level. Amortisation is performed on a straight-line basis over the estimated useful lives of the intangible asset:Licenses and software 5-10 yearsCustomer relations 5-10 yearsCustomer contracts 1 - 2 years",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForIntangibleAssetsAndGoodwillExplanatory",
"language": "en",
"entity": "scheme:635400VFBLRSFRXLGQ03",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"s8_notes__6__91": {
"value": "11. Property, plant and equipmentAccounting policyThe Group\u2019s main items of property, plant and equipment are leasehold improvements, fixtures and furniture and office machinery. The Group leases all office buildings, see note 12. Plant and equipment are stated at cost, net of accumulated depreciation and accumulated impairment losses, if any. Cost includes costs that are directly attributable to the acquisition of the asset. Estimated useful lives are as follows:Fixtures, fittings, and office equipment 3-10 years 2023 2022 Land, offices Machinery, Total Land, offices Machinery, Totaland buildingscars, office and buildingscars, office equipment etcequipment etcAcquisition cost 5 646 651 6 602 608 Accumulated depreciation -4 -489 -492 -3 -446 -449 Carrying amount 1 157 159 3 156 159 Opening carrying amount 3 156 159 6 145 151 Addition from business combination 0 2 2 0 4 4 Addition 0 59 59 0 69 69 Disposals -2 -2 -4 -3 -2 -5 Depreciation -1 -62 -62 0 -59 -59 Impairments 0 0 0 0 0 0 Translation differences 0 4 4 0 -1 -1 Closing carrying amount 1 157 158 3 156 159 Depreciation method Linear Linear Linear Linear Depreciation period 0 - 30 years 3-10 years 0 - 30 years 3-10 years",
"dimensions": {
"concept": "ifrs-full:DisclosureOfPropertyPlantAndEquipmentExplanatory",
"language": "en",
"entity": "scheme:635400VFBLRSFRXLGQ03",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"s8_notes__6__94": {
"value": "Accounting policyThe Group\u2019s main items of property, plant and equipment are leasehold improvements, fixtures and furniture and office machinery. The Group leases all office buildings, see note 12. Plant and equipment are stated at cost, net of accumulated depreciation and accumulated impairment losses, if any. Cost includes costs that are directly attributable to the acquisition of the asset. Estimated useful lives are as follows:",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForDepreciationExpenseExplanatory",
"language": "en",
"entity": "scheme:635400VFBLRSFRXLGQ03",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"s8_notes__6__93": {
"value": "Accounting policyThe Group\u2019s main items of property, plant and equipment are leasehold improvements, fixtures and furniture and office machinery. The Group leases all office buildings, see note 12. Plant and equipment are stated at cost, net of accumulated depreciation and accumulated impairment losses, if any. Cost includes costs that are directly attributable to the acquisition of the asset. Estimated useful lives are as follows:",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForRepairsAndMaintenanceExplanatory",
"language": "en",
"entity": "scheme:635400VFBLRSFRXLGQ03",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"s8_notes__6__92": {
"value": "Accounting policyThe Group\u2019s main items of property, plant and equipment are leasehold improvements, fixtures and furniture and office machinery. The Group leases all office buildings, see note 12. Plant and equipment are stated at cost, net of accumulated depreciation and accumulated impairment losses, if any. Cost includes costs that are directly attributable to the acquisition of the asset. Estimated useful lives are as follows:",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForPropertyPlantAndEquipmentExplanatory",
"language": "en",
"entity": "scheme:635400VFBLRSFRXLGQ03",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"s8_notes__6__95": {
"value": "12. LeasesAccounting policyThe Group leases all office buildings. Leases are also generally used for IT equipment, office machines, motor vehicles and to some extent mobile phones.Leases are recognised as a right-of-use assets and a corresponding liability at the commencement date of the lease (i.e., the date the underlying asset is available for use). Each lease payment is allocated between the liability and finance cost. The finance costs are charged to profit over the lease period based on the remaining balance of the liability for each period. Right-of-use assets are recognised at cost less depreciation and impairment loss. Assets are depreciated on a straight-line basis over the shorter of the lease term and the estimated useful lives of the assets, as follows: Office buildings: 1 to 17 yearsIT equipment: 1 to 6 yearsMotor vehicles and other equipment: 1 to 9 yearsIf ownership of the leased asset transfers to the Group at the end of the lease term or the cost reflects the exercise of a purchase option, depreciation is calculated using the estimated useful life of the asset. The right-of-use assets are also subject to impairment. The lease liabilities include the net present value of lease payments to be made over the lease term. The lease payments include fixed payments less any lease incentives receivable, variable lease payments that depend on an index or a rate, and amounts expected to be paid under residual value guarantees. Several of the Group\u2019s leases include options for renewal of the leases. Options that are reasonably certain to be exercised, considering office size and growth, potential for relocation with other Norconsult offices, rent level and location of the office relative to alternative locations in the relevant area are included in lease payments. Lease options for long-term contracts, mainly over 3-4 years, are not taken into account as there are constant changes to the Group and it is difficult to assess the probability of future renewals. In calculating the present value of lease payments, the Group uses its incremental borrowing rate at the lease commencement date because the interest rate implicit in the lease is not readily determinable. After the commencement date, the amount of lease liabilities is increased to reflect the accretion of interest and reduced for the lease payments made. In addition, the carrying amount of lease liabilities is remeasured if there is a modification, a change in the lease term, a change in the lease payments or a change in the assessment of an option to purchase the underlying asset. The Group applies the short-term lease recognition exemption to its short-term leases of certain office locations, smaller machinery and equipment (i.e., those leases that have a lease term of 12 months or less from the commencement date and do not contain a purchase option). It also applies the lease of low-value assets recognition exemption to leases of office equipment that are considered to be low value. Lease payments on short-term leases and leases of low-value assets are recognised as expense on a straight-line basis over the lease term.Right-of-use asset 2023 2022Opening carrying amount 1 528 1 613 New leases 142 161 Addition through acquisitions 22 12 Changes in existing leases 212 72 Depreciation for the year -376 -325 Translation differences 18 -4 Closing carrying amount 1 546 1 528 Office property 1 448 1 453 Cars, IT equipment and office machines 98 75 Total 1 546 1 528 Amounts recognised in profit and loss 2023 2022Depreciation office property 315 277 Depreciation cars, office- and IT-equipment 61 48 Interest expense on lease liabilities 34 31 Cost of short-term leases 9 4 Cost of low-value leases 6 3 Total amount recognised in the statement of income 425 363 Lease liabilities 2023 2022Non-current 1 226 1 241 Current 354 310 Total 1 580 1 552 Maturity of undiscounted lease commitments 2023 2022Within one year 385 337 Between 1 and 5 years 1 049 968 Over 5 years 237 337 Total undiscounted lease liabilities 1 671 1 642 Movement in the lease liability 2023 2022Carrying amount at 1 January 1 552 1 625 Amortisation of debt, cash flow -399 -342 New leases and revaluation 354 233 Increase through acquisition 22 12 Interest expense 34 31 Translation differences 18 -7 Carrying amount at 31 December 1 580 1 552 The Group has six material leases that are committed and that commence in 2024 through 2026. The average length of the leases is 10 years, and the average annual rent is NOK 5.5 million.",
"dimensions": {
"concept": "ifrs-full:DisclosureOfLeasesExplanatory",
"language": "en",
"entity": "scheme:635400VFBLRSFRXLGQ03",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"s8_notes__6__96": {
"value": "Accounting policyThe Group leases all office buildings. Leases are also generally used for IT equipment, office machines, motor vehicles and to some extent mobile phones.Leases are recognised as a right-of-use assets and a corresponding liability at the commencement date of the lease (i.e., the date the underlying asset is available for use). Each lease payment is allocated between the liability and finance cost. The finance costs are charged to profit over the lease period based on the remaining balance of the liability for each period. Right-of-use assets are recognised at cost less depreciation and impairment loss. Assets are depreciated on a straight-line basis over the shorter of the lease term and the estimated useful lives of the assets, as follows: Office buildings: 1 to 17 yearsIT equipment: 1 to 6 yearsMotor vehicles and other equipment: 1 to 9 yearsIf ownership of the leased asset transfers to the Group at the end of the lease term or the cost reflects the exercise of a purchase option, depreciation is calculated using the estimated useful life of the asset. The right-of-use assets are also subject to impairment. The lease liabilities include the net present value of lease payments to be made over the lease term. The lease payments include fixed payments less any lease incentives receivable, variable lease payments that depend on an index or a rate, and amounts expected to be paid under residual value guarantees. Several of the Group\u2019s leases include options for renewal of the leases. Options that are reasonably certain to be exercised, considering office size and growth, potential for relocation with other Norconsult offices, rent level and location of the office relative to alternative locations in the relevant area are included in lease payments. Lease options for long-term contracts, mainly over 3-4 years, are not taken into account as there are constant changes to the Group and it is difficult to assess the probability of future renewals. In calculating the present value of lease payments, the Group uses its incremental borrowing rate at the lease commencement date because the interest rate implicit in the lease is not readily determinable. After the commencement date, the amount of lease liabilities is increased to reflect the accretion of interest and reduced for the lease payments made. In addition, the carrying amount of lease liabilities is remeasured if there is a modification, a change in the lease term, a change in the lease payments or a change in the assessment of an option to purchase the underlying asset. The Group applies the short-term lease recognition exemption to its short-term leases of certain office locations, smaller machinery and equipment (i.e., those leases that have a lease term of 12 months or less from the commencement date and do not contain a purchase option). It also applies the lease of low-value assets recognition exemption to leases of office equipment that are considered to be low value. Lease payments on short-term leases and leases of low-value assets are recognised as expense on a straight-line basis over the lease term.",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForLeasesExplanatory",
"language": "en",
"entity": "scheme:635400VFBLRSFRXLGQ03",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"s8_notes__6__99": {
"value": "13. Other operating expenses 2023 2022Office expenses 187 196 IT expenses 287 278 Expenses related to the stock listing 76 0Travel expenses 77 55 External services 61 50 Marketing and advertising expenses 26 26 Loss on receivables 5 35 Insurance expenses 39 38 Other operating expenses 85 99 Total 843 778 Expenses related to research and development cost amount to NOK 58 million (2022: NOK 33 million).",
"dimensions": {
"concept": "ifrs-full:DisclosureOfOtherOperatingExpenseExplanatory",
"language": "en",
"entity": "scheme:635400VFBLRSFRXLGQ03",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"s8_notes__6__98": {
"value": "13. Other operating expenses 2023 2022Office expenses 187 196 IT expenses 287 278 Expenses related to the stock listing 76 0Travel expenses 77 55 External services 61 50 Marketing and advertising expenses 26 26 Loss on receivables 5 35 Insurance expenses 39 38 Other operating expenses 85 99 Total 843 778 Expenses related to research and development cost amount to NOK 58 million (2022: NOK 33 million).",
"dimensions": {
"concept": "ifrs-full:DisclosureOfOtherOperatingIncomeExpenseExplanatory",
"language": "en",
"entity": "scheme:635400VFBLRSFRXLGQ03",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"s8_notes__6__97": {
"value": "13. Other operating expenses 2023 2022Office expenses 187 196 IT expenses 287 278 Expenses related to the stock listing 76 0Travel expenses 77 55 External services 61 50 Marketing and advertising expenses 26 26 Loss on receivables 5 35 Insurance expenses 39 38 Other operating expenses 85 99 Total 843 778 Expenses related to research and development cost amount to NOK 58 million (2022: NOK 33 million).Compensation to auditors (NOK thousand) 2023 2022Statutory audit fees to group auditor EY 5 607 4 883 Statutory audit fees other than group auditor 336 327 Other assurance engagements 2 531 120 Tax related services 613 806 Other services 1 438 792 Total 10 525 6 927 Compensation to auditors does not include VAT.",
"dimensions": {
"concept": "ifrs-full:DisclosureOfResearchAndDevelopmentExpenseExplanatory",
"language": "en",
"entity": "scheme:635400VFBLRSFRXLGQ03",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"s8_notes__6__100": {
"value": "Compensation to auditors (NOK thousand) 2023 2022Statutory audit fees to group auditor EY 5 607 4 883 Statutory audit fees other than group auditor 336 327 Other assurance engagements 2 531 120 Tax related services 613 806 Other services 1 438 792 Total 10 525 6 927 Compensation to auditors does not include VAT.",
"dimensions": {
"concept": "ifrs-full:DisclosureOfAuditorsRemunerationExplanatory",
"language": "en",
"entity": "scheme:635400VFBLRSFRXLGQ03",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"s8_notes__6__107": {
"value": "14. Finance income and expenseFinance income 2023 2022Share of income from associates 0 1 Interest income 31 12 Foreign currency gain 14 16 Other financial income 27 2 Total financial income 72 31 Finance expense Interest expenses -9 -2 Foreign currency loss -26 -10 Financial expenses lease liabilities -34 -31 Other financial expenses -2 -2 Total financial expense -71 -45 Net financial items 1 -14 Included in other financial income is increase in the fair value of bond funds with NOK 22 million (2022: NOK 4 million).",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForFinanceCostsExplanatory",
"language": "en",
"entity": "scheme:635400VFBLRSFRXLGQ03",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"s8_notes__6__106": {
"value": "14. Finance income and expenseFinance income 2023 2022Share of income from associates 0 1 Interest income 31 12 Foreign currency gain 14 16 Other financial income 27 2 Total financial income 72 31 Finance expense Interest expenses -9 -2 Foreign currency loss -26 -10 Financial expenses lease liabilities -34 -31 Other financial expenses -2 -2 Total financial expense -71 -45 Net financial items 1 -14 Included in other financial income is increase in the fair value of bond funds with NOK 22 million (2022: NOK 4 million).",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForFinanceIncomeAndCostsExplanatory",
"language": "en",
"entity": "scheme:635400VFBLRSFRXLGQ03",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"s8_notes__6__105": {
"value": "14. Finance income and expenseFinance income 2023 2022Share of income from associates 0 1 Interest income 31 12 Foreign currency gain 14 16 Other financial income 27 2 Total financial income 72 31 Finance expense Interest expenses -9 -2 Foreign currency loss -26 -10 Financial expenses lease liabilities -34 -31 Other financial expenses -2 -2 Total financial expense -71 -45 Net financial items 1 -14 Included in other financial income is increase in the fair value of bond funds with NOK 22 million (2022: NOK 4 million).",
"dimensions": {
"concept": "ifrs-full:DisclosureOfInterestIncomeExplanatory",
"language": "en",
"entity": "scheme:635400VFBLRSFRXLGQ03",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"s8_notes__6__104": {
"value": "14. Finance income and expenseFinance income 2023 2022Share of income from associates 0 1 Interest income 31 12 Foreign currency gain 14 16 Other financial income 27 2 Total financial income 72 31 Finance expense Interest expenses -9 -2 Foreign currency loss -26 -10 Financial expenses lease liabilities -34 -31 Other financial expenses -2 -2 Total financial expense -71 -45 Net financial items 1 -14 Included in other financial income is increase in the fair value of bond funds with NOK 22 million (2022: NOK 4 million).",
"dimensions": {
"concept": "ifrs-full:DisclosureOfInterestExpenseExplanatory",
"language": "en",
"entity": "scheme:635400VFBLRSFRXLGQ03",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"s8_notes__6__103": {
"value": "14. Finance income and expenseFinance income 2023 2022Share of income from associates 0 1 Interest income 31 12 Foreign currency gain 14 16 Other financial income 27 2 Total financial income 72 31 Finance expense Interest expenses -9 -2 Foreign currency loss -26 -10 Financial expenses lease liabilities -34 -31 Other financial expenses -2 -2 Total financial expense -71 -45 Net financial items 1 -14 Included in other financial income is increase in the fair value of bond funds with NOK 22 million (2022: NOK 4 million).",
"dimensions": {
"concept": "ifrs-full:DisclosureOfFinanceCostExplanatory",
"language": "en",
"entity": "scheme:635400VFBLRSFRXLGQ03",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"s8_notes__6__102": {
"value": "14. Finance income and expenseFinance income 2023 2022Share of income from associates 0 1 Interest income 31 12 Foreign currency gain 14 16 Other financial income 27 2 Total financial income 72 31 Finance expense Interest expenses -9 -2 Foreign currency loss -26 -10 Financial expenses lease liabilities -34 -31 Other financial expenses -2 -2 Total financial expense -71 -45 Net financial items 1 -14 Included in other financial income is increase in the fair value of bond funds with NOK 22 million (2022: NOK 4 million).",
"dimensions": {
"concept": "ifrs-full:DisclosureOfFinanceIncomeExplanatory",
"language": "en",
"entity": "scheme:635400VFBLRSFRXLGQ03",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"s8_notes__6__101": {
"value": "14. Finance income and expenseFinance income 2023 2022Share of income from associates 0 1 Interest income 31 12 Foreign currency gain 14 16 Other financial income 27 2 Total financial income 72 31 Finance expense Interest expenses -9 -2 Foreign currency loss -26 -10 Financial expenses lease liabilities -34 -31 Other financial expenses -2 -2 Total financial expense -71 -45 Net financial items 1 -14 Included in other financial income is increase in the fair value of bond funds with NOK 22 million (2022: NOK 4 million).",
"dimensions": {
"concept": "ifrs-full:DisclosureOfFinanceIncomeExpenseExplanatory",
"language": "en",
"entity": "scheme:635400VFBLRSFRXLGQ03",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"s8_notes__6__113-1": {
"value": "15. TaxesDeferred tax assets (liabilities) relate to the following: 2023 2022Goodwill and property plant and equipment 121 111 Net deferred gain on sale of property plant and equipment -80 -85 Right of use assets, net 8 5 Net contract assets/receivables -68 -71 Intangible assets -5 -5Receivables 11 12 Tax loss carry forward 12 14 Other temporary differences -11 -9 Total deferred tax assets (liabilities) -13 -24 Deferred tax assets not recognised -7 -6 Net deferred tax assets (liabilities) in statement of financial position -20 -30 Deferred tax assets 4 4 Deferred tax liabilities -24 -34 Net deferred tax assets (liabilities) in statement of financial position -20 -30 Reconciliation of net deferred tax asset (liability): 2023 2022 As of 1 January -30 -10 Tax expense (income) for the period 16 3 Change in deferred tax related to prior years -0 -16 Deferred tax from acquisition and disposal of subsidiaries -1 -5 Effect of foreign currency translation -5 -1 As of 31 December -20 -30 Deferred tax assets not recognised relate to tax loss carry forwards outside the Nordic countries. Tax loss carry forward in the Nordic countries can be carried forward indefinitely.",
"dimensions": {
"concept": "ifrs-full:DisclosureOfDeferredTaxesExplanatory",
"language": "en",
"entity": "scheme:635400VFBLRSFRXLGQ03",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"s8_notes__6__112": {
"value": "15. TaxesAccounting policyCurrent income tax assets and liabilities are measured at the amount expected to be recovered from or paid to the taxation authorities. The tax rates and tax laws used to compute the amount are those that are enacted or substantively enacted at the reporting date in the countries where the Group operates and generates taxable income. Deferred tax is provided using the liability method on temporary differences between the tax bases of assets and liabilities and their carrying amounts for financial reporting purposes at the reporting date. Deferred tax liabilities and assets are recognised for all taxable temporary differences between carrying amount and their respective tax bases. Deferred tax liabilities or deferred tax assets are not recognised for the initial recognition of goodwill.Deferred tax assets are recognised to the extent that it is probable that taxable profit will be available against which the deductible temporary differences, and the carry forward of unused tax credits and unused tax losses can be utilized.The carrying amount of deferred tax assets is reviewed at each reporting date and reduced to the extent that it is no longer probable that sufficient taxable profit will be available to allow all or part of the deferred tax asset to be utilized. Unrecognised deferred tax assets are reassessed at each reporting date. Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the year when the asset is realized or the liability is settled, based on tax rates (and tax laws) that have been enacted or substantively enacted at the reporting date.The Group offsets deferred tax assets and deferred tax liabilities if and only if it has a legally enforceable right to set off current tax assets and current tax liabilities. The Group has applied the mandatory exception to recognising and disclosing information about deferred tax assets and liabilities arising from Pillar Two income taxes. Furthermore, the Group has reviewed its corporate structure in light of the introduction of Pillar Two Model Rules in various jurisdictions. Since the Group\u2019s effective tax rate is above 15% in all jurisdictions in which it operates, it has determined that it is not subject to Pillar Two \u201ctop-up\u201d taxes. Therefore, the consolidated financial statements do not include information required by paragraphs 88A-88D of IAS 12. The major components of income tax expense: 2023 2022Current income tax charge 177 161 Taxes from prior years -2 -16 Change in deferred tax -17 12 Income tax expense (income) 158 158 Reconciliation of tax expense and profit before tax: 2023 2022Profit before tax 674 612 Estimated tax on profit before tax (22%) 148 135 Effect of permanent differences 12 24 Effect of different tax rates in foreign operations -2 -1 Income tax expense (income) 158 158 Permanent differences for 2023 are primarily related to the share-based payment expense of NOK 2 million and other non-deductible expenses with NOK 10 million. Permanent differences for 2022 are primarily related to the share-based payment expense of NOK 18 million and other non-deductible expenses with NOK 6 million. Deferred tax assets (liabilities) relate to the following: 2023 2022Goodwill and property plant and equipment 121 111 Net deferred gain on sale of property plant and equipment -80 -85 Right of use assets, net 8 5 Net contract assets/receivables -68 -71 Intangible assets -5 -5Receivables 11 12 Tax loss carry forward 12 14 Other temporary differences -11 -9 Total deferred tax assets (liabilities) -13 -24 Deferred tax assets not recognised -7 -6 Net deferred tax assets (liabilities) in statement of financial position -20 -30 Deferred tax assets 4 4 Deferred tax liabilities -24 -34 Net deferred tax assets (liabilities) in statement of financial position -20 -30 Reconciliation of net deferred tax asset (liability): 2023 2022 As of 1 January -30 -10 Tax expense (income) for the period 16 3 Change in deferred tax related to prior years -0 -16 Deferred tax from acquisition and disposal of subsidiaries -1 -5 Effect of foreign currency translation -5 -1 As of 31 December -20 -30 Deferred tax assets not recognised relate to tax loss carry forwards outside the Nordic countries. Tax loss carry forward in the Nordic countries can be carried forward indefinitely.",
"dimensions": {
"concept": "ifrs-full:DisclosureOfTaxReceivablesAndPayablesExplanatory",
"language": "en",
"entity": "scheme:635400VFBLRSFRXLGQ03",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"s8_notes__6__108": {
"value": "15. TaxesAccounting policyCurrent income tax assets and liabilities are measured at the amount expected to be recovered from or paid to the taxation authorities. The tax rates and tax laws used to compute the amount are those that are enacted or substantively enacted at the reporting date in the countries where the Group operates and generates taxable income. Deferred tax is provided using the liability method on temporary differences between the tax bases of assets and liabilities and their carrying amounts for financial reporting purposes at the reporting date. Deferred tax liabilities and assets are recognised for all taxable temporary differences between carrying amount and their respective tax bases. Deferred tax liabilities or deferred tax assets are not recognised for the initial recognition of goodwill.Deferred tax assets are recognised to the extent that it is probable that taxable profit will be available against which the deductible temporary differences, and the carry forward of unused tax credits and unused tax losses can be utilized.The carrying amount of deferred tax assets is reviewed at each reporting date and reduced to the extent that it is no longer probable that sufficient taxable profit will be available to allow all or part of the deferred tax asset to be utilized. Unrecognised deferred tax assets are reassessed at each reporting date. Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the year when the asset is realized or the liability is settled, based on tax rates (and tax laws) that have been enacted or substantively enacted at the reporting date.The Group offsets deferred tax assets and deferred tax liabilities if and only if it has a legally enforceable right to set off current tax assets and current tax liabilities. The Group has applied the mandatory exception to recognising and disclosing information about deferred tax assets and liabilities arising from Pillar Two income taxes. Furthermore, the Group has reviewed its corporate structure in light of the introduction of Pillar Two Model Rules in various jurisdictions. Since the Group\u2019s effective tax rate is above 15% in all jurisdictions in which it operates, it has determined that it is not subject to Pillar Two \u201ctop-up\u201d taxes. Therefore, the consolidated financial statements do not include information required by paragraphs 88A-88D of IAS 12. The major components of income tax expense: 2023 2022Current income tax charge 177 161 Taxes from prior years -2 -16 Change in deferred tax -17 12 Income tax expense (income) 158 158 Reconciliation of tax expense and profit before tax: 2023 2022Profit before tax 674 612 Estimated tax on profit before tax (22%) 148 135 Effect of permanent differences 12 24 Effect of different tax rates in foreign operations -2 -1 Income tax expense (income) 158 158 Permanent differences for 2023 are primarily related to the share-based payment expense of NOK 2 million and other non-deductible expenses with NOK 10 million. Permanent differences for 2022 are primarily related to the share-based payment expense of NOK 18 million and other non-deductible expenses with NOK 6 million. Deferred tax assets (liabilities) relate to the following: 2023 2022Goodwill and property plant and equipment 121 111 Net deferred gain on sale of property plant and equipment -80 -85 Right of use assets, net 8 5 Net contract assets/receivables -68 -71 Intangible assets -5 -5Receivables 11 12 Tax loss carry forward 12 14 Other temporary differences -11 -9 Total deferred tax assets (liabilities) -13 -24 Deferred tax assets not recognised -7 -6 Net deferred tax assets (liabilities) in statement of financial position -20 -30 Deferred tax assets 4 4 Deferred tax liabilities -24 -34 Net deferred tax assets (liabilities) in statement of financial position -20 -30 Reconciliation of net deferred tax asset (liability): 2023 2022 As of 1 January -30 -10 Tax expense (income) for the period 16 3 Change in deferred tax related to prior years -0 -16 Deferred tax from acquisition and disposal of subsidiaries -1 -5 Effect of foreign currency translation -5 -1 As of 31 December -20 -30 Deferred tax assets not recognised relate to tax loss carry forwards outside the Nordic countries. Tax loss carry forward in the Nordic countries can be carried forward indefinitely.",
"dimensions": {
"concept": "ifrs-full:DisclosureOfIncomeTaxExplanatory",
"language": "en",
"entity": "scheme:635400VFBLRSFRXLGQ03",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"s8_notes__6__111": {
"value": "Accounting policyCurrent income tax assets and liabilities are measured at the amount expected to be recovered from or paid to the taxation authorities. The tax rates and tax laws used to compute the amount are those that are enacted or substantively enacted at the reporting date in the countries where the Group operates and generates taxable income. Deferred tax is provided using the liability method on temporary differences between the tax bases of assets and liabilities and their carrying amounts for financial reporting purposes at the reporting date. Deferred tax liabilities and assets are recognised for all taxable temporary differences between carrying amount and their respective tax bases. Deferred tax liabilities or deferred tax assets are not recognised for the initial recognition of goodwill.Deferred tax assets are recognised to the extent that it is probable that taxable profit will be available against which the deductible temporary differences, and the carry forward of unused tax credits and unused tax losses can be utilized.The carrying amount of deferred tax assets is reviewed at each reporting date and reduced to the extent that it is no longer probable that sufficient taxable profit will be available to allow all or part of the deferred tax asset to be utilized. Unrecognised deferred tax assets are reassessed at each reporting date. Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the year when the asset is realized or the liability is settled, based on tax rates (and tax laws) that have been enacted or substantively enacted at the reporting date.The Group offsets deferred tax assets and deferred tax liabilities if and only if it has a legally enforceable right to set off current tax assets and current tax liabilities. The Group has applied the mandatory exception to recognising and disclosing information about deferred tax assets and liabilities arising from Pillar Two income taxes. Furthermore, the Group has reviewed its corporate structure in light of the introduction of Pillar Two Model Rules in various jurisdictions. Since the Group\u2019s effective tax rate is above 15% in all jurisdictions in which it operates, it has determined that it is not subject to Pillar Two \u201ctop-up\u201d taxes. Therefore, the consolidated financial statements do not include information required by paragraphs 88A-88D of IAS 12.",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForTaxesOtherThanIncomeTaxExplanatory",
"language": "en",
"entity": "scheme:635400VFBLRSFRXLGQ03",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"s8_notes__6__110": {
"value": "Accounting policyCurrent income tax assets and liabilities are measured at the amount expected to be recovered from or paid to the taxation authorities. The tax rates and tax laws used to compute the amount are those that are enacted or substantively enacted at the reporting date in the countries where the Group operates and generates taxable income. Deferred tax is provided using the liability method on temporary differences between the tax bases of assets and liabilities and their carrying amounts for financial reporting purposes at the reporting date. Deferred tax liabilities and assets are recognised for all taxable temporary differences between carrying amount and their respective tax bases. Deferred tax liabilities or deferred tax assets are not recognised for the initial recognition of goodwill.Deferred tax assets are recognised to the extent that it is probable that taxable profit will be available against which the deductible temporary differences, and the carry forward of unused tax credits and unused tax losses can be utilized.The carrying amount of deferred tax assets is reviewed at each reporting date and reduced to the extent that it is no longer probable that sufficient taxable profit will be available to allow all or part of the deferred tax asset to be utilized. Unrecognised deferred tax assets are reassessed at each reporting date. Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the year when the asset is realized or the liability is settled, based on tax rates (and tax laws) that have been enacted or substantively enacted at the reporting date.The Group offsets deferred tax assets and deferred tax liabilities if and only if it has a legally enforceable right to set off current tax assets and current tax liabilities. The Group has applied the mandatory exception to recognising and disclosing information about deferred tax assets and liabilities arising from Pillar Two income taxes. Furthermore, the Group has reviewed its corporate structure in light of the introduction of Pillar Two Model Rules in various jurisdictions. Since the Group\u2019s effective tax rate is above 15% in all jurisdictions in which it operates, it has determined that it is not subject to Pillar Two \u201ctop-up\u201d taxes. Therefore, the consolidated financial statements do not include information required by paragraphs 88A-88D of IAS 12.",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForDeferredIncomeTaxExplanatory",
"language": "en",
"entity": "scheme:635400VFBLRSFRXLGQ03",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"s8_notes__6__109": {
"value": "Accounting policyCurrent income tax assets and liabilities are measured at the amount expected to be recovered from or paid to the taxation authorities. The tax rates and tax laws used to compute the amount are those that are enacted or substantively enacted at the reporting date in the countries where the Group operates and generates taxable income. Deferred tax is provided using the liability method on temporary differences between the tax bases of assets and liabilities and their carrying amounts for financial reporting purposes at the reporting date. Deferred tax liabilities and assets are recognised for all taxable temporary differences between carrying amount and their respective tax bases. Deferred tax liabilities or deferred tax assets are not recognised for the initial recognition of goodwill.Deferred tax assets are recognised to the extent that it is probable that taxable profit will be available against which the deductible temporary differences, and the carry forward of unused tax credits and unused tax losses can be utilized.The carrying amount of deferred tax assets is reviewed at each reporting date and reduced to the extent that it is no longer probable that sufficient taxable profit will be available to allow all or part of the deferred tax asset to be utilized. Unrecognised deferred tax assets are reassessed at each reporting date. Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the year when the asset is realized or the liability is settled, based on tax rates (and tax laws) that have been enacted or substantively enacted at the reporting date.The Group offsets deferred tax assets and deferred tax liabilities if and only if it has a legally enforceable right to set off current tax assets and current tax liabilities. The Group has applied the mandatory exception to recognising and disclosing information about deferred tax assets and liabilities arising from Pillar Two income taxes. Furthermore, the Group has reviewed its corporate structure in light of the introduction of Pillar Two Model Rules in various jurisdictions. Since the Group\u2019s effective tax rate is above 15% in all jurisdictions in which it operates, it has determined that it is not subject to Pillar Two \u201ctop-up\u201d taxes. Therefore, the consolidated financial statements do not include information required by paragraphs 88A-88D of IAS 12.",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForIncomeTaxExplanatory",
"language": "en",
"entity": "scheme:635400VFBLRSFRXLGQ03",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"s8_notes__6__115": {
"value": "16. Earnings per shareAccounting policyEarnings per share is calculated by dividing the profit for the year after non-controlling interests by the average number of shares outstanding during the reporting period. Norconsult has share programs in 2023 that potentially could give rise to a dilutive effect for other shareholders. Earnings per share is therefore presented with and without a dilutive effect. There were no potential dilutive effects for 2022. 2023 2022Profit for the period (NOK million) 516 454 Weighted average shares outstanding excluding treasury shares 281 179 178 286 671 900 Average shares outstanding including dilutive shares 283 294 184 286 671 900 Basic earnings per share in NOK 1.83 1.58Diluted earnings per share in NOK 1.82 1.58",
"dimensions": {
"concept": "ifrs-full:DisclosureOfEarningsPerShareExplanatory",
"language": "en",
"entity": "scheme:635400VFBLRSFRXLGQ03",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"s8_notes__6__120": {
"value": "17. Non-current financial assets and associated companies 2023 2022Shares in associates 3 3 Non-current financial investments 19 16 Other non-current receivables 38 9 Movement in shares in associates 2022 2022Opening carrying amount 3 4 Share of profit 0 1 Closure 0 -2 Closing carrying amount 3 3 The associated companies are deemed not to be material to the Group and further information is therefore not provided.",
"dimensions": {
"concept": "ifrs-full:DisclosureOfOtherNoncurrentAssetsExplanatory",
"language": "en",
"entity": "scheme:635400VFBLRSFRXLGQ03",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"s8_notes__6__119-1": {
"value": "17. Non-current financial assets and associated companies 2023 2022Shares in associates 3 3 Non-current financial investments 19 16 Other non-current receivables 38 9 Movement in shares in associates 2022 2022Opening carrying amount 3 4 Share of profit 0 1 Closure 0 -2 Closing carrying amount 3 3 The associated companies are deemed not to be material to the Group and further information is therefore not provided.18. Other current assets 2023 2022Prepaid operating expenses 146 107 Prepaid corporate taxes 56 46 Accrued income 0 1 Other current receivables 43 57 Total 245 211",
"dimensions": {
"concept": "ifrs-full:DisclosureOfOtherAssetsExplanatory",
"language": "en",
"entity": "scheme:635400VFBLRSFRXLGQ03",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"s8_notes__6__118-1": {
"value": "17. Non-current financial assets and associated companies 2023 2022Shares in associates 3 3 Non-current financial investments 19 16 Other non-current receivables 38 9 Movement in shares in associates 2022 2022Opening carrying amount 3 4 Share of profit 0 1 Closure 0 -2 Closing carrying amount 3 3 The associated companies are deemed not to be material to the Group and further information is therefore not provided.23. Subsidiaries and composition of the groupSubsidiaries owned by Norconsult ASA Company Office Voting and ownership share 2023 2022Norconsult Norge AS Sandvika 100 % 100 % Shares owned by subsidiaries Company Office Voting and ownership share Shares owned by 2023 2022Norconsult International AS Sandvika 100 % 100 % Norconsult Norge ASNorfin AS Sandvika 100 % 100 % Norconsult Norge ASTechnogarden AS Sandvika 100 % 100 % Norconsult Norge ASNorconsult Digital AS Sandvika 100 % 100 % Norconsult Norge ASNordic Office of Architecture AS Oslo 100 % 100 % Norconsult Norge ASNorconsult Sverige AB G\u00f8teborg 100 % 100 % Norconsult Norge ASNorconsult Danmark A/S K\u00f8benhavn 100 % 100 % Norconsult Norge ASNorconsult Polska Sp. z o.o Krakow 100 % 100 % Norconsult Norge ASNorconsult Island ehf Reykjavik 100 % 100 % Norconsult Norge ASNorconsult Africa (PtY) Ltd Johannesburg 100 % 100 % Norconsult Norge ASNorconsult Mozambique Ltd. Maputo 100 % 100 % Norconsult Norge ASNorconsult Botswana (Pty) Ltd Gaborone 100 % 100 % Norconsult Norge ASNorpower Sdn Bhd Kuching 100 % 100 % Norconsult Norge ASNorconsult Man. Serv. Phil Ltd. Manila 100 % 100 % Norconsult Norge ASNorconsult New Zealand Ltd. Auckland 100 % 100 % Norconsult Norge ASKjeller Vindteknikk AB Stockholm 100 % 100 % Norconsult Norge ASKjeller Vindteknikk OY Espoo 100 % 100 % Norconsult Norge ASProptech City AS Bergen 92 % 92 % Norconsult Norge ASNorconsult F\u00e4ltgeoteknik AB G\u00f8teborg 100 % 100 % Norconsult Sverige ABAreal & Eiendom AS Lillestr\u00f8m 100 % 100 % Norfin AS23. Subsidiaries and composition of the group fortsShares owned by subsidiaries Company Office Voting and ownership share Shares owned by 2023 2022Moldskred AS \u00c5lesund 100 % 100 % Norfin ASJAF Arkitektkontor AS Gj\u00f8vik 100 % 100 % Norfin ASDjerving AS Oslo 100 % 100 % Norfin ASPlanr\u00e5d AS Lillehammer 100 % 100 % Norfin ASArkitekthuset Monarken AB Lule\u00e5 100 % 100 % Norconsult Sverige ABNOCA Teknik AB G\u00f8teborg 100 % 100 % Norconsult Sverige ABNorconsult Boreteknikk AS Torp 100 % 100 % Norconsult F\u00e4ltgeoteknik ABSkovhus Arkitekter A/S Aarhus 100 % 100 % Norconsult Danmark A/SKAAI A/S Aarhus og Aalborg 100 % 100 % Norconsult Danmark A/SKHS Arkitekter A/S Kongens Lyngby 100 % 100 % Norconsult Danmark A/SNordic - Office of Architecture A/S K\u00f8benhavn 100 % 100 % Norconsult Danmark A/SRubow Arkitekter Holding A/S K\u00f8benhavn 100 % 100 % Norconsult Danmark A/SNordic Office of Architecture A/S K\u00f8benhavn 100 % 100 % Rubow Arkitekter Holding A/SRubow Arkitekter Aarhus A/S Aarhus 100 % 100 % Rubow Arkitekter Holding A/SNorconsult Jord-Milj\u00f8 A/S Sm\u00f8rum 100 % 100 % Norconsult Danmark A/SNorconsult Jord Teknik A/S Sm\u00f8rum 100 % 100 % Norconsult Danmark A/SLB Consult A/S Grenaa 100 % 100 % Norconsult Danmark A/SIngeni\u00f8rv\u00e6rket ApS Esbjerg 100 % 100 % Norconsult Danmark A/SNorconsult Digital AB Stockholm 100 % 100 % Norconsult Digital ASPure Logic AS Oslo 100 % 100 % Norconsult Digital ASNordic Office of Architecture ehf Reykjavik 100 % 100 % Nordic Office of Architecture ASKristin Jarmund Arkitekter AS Oslo 100 % 100 % Nordic Office of Architecture ASTechnogarden Albatross Prosjektledelse AS Sandvika 100 % 100 % Technogarden ASTechnogarden AB G\u00f8teborg 100 % 100 % Technogarden ASTechnogarden Human Resources AS Sandvika 100 % 100 % Technogarden ASAssociated companies: NorCiv Engineering Co. Ltd Bankok 33,1 % 33,1 % Norconsult Norge AS, Norconsult International ASTeam Urbis AS Oslo 22,5 % 22,5 % Nordic Office of Architecture ASTeam Major AS Oslo 50,0 % 50,0 % Norconsult Norge ASAvro Design Group EHF Reykjavik 30,0 % 30,0 % Nordic Office of Architecture AS",
"dimensions": {
"concept": "ifrs-full:DisclosureOfInterestsInOtherEntitiesExplanatory",
"language": "en",
"entity": "scheme:635400VFBLRSFRXLGQ03",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"s8_notes__6__116": {
"value": "17. Non-current financial assets and associated companies 2023 2022Shares in associates 3 3 Non-current financial investments 19 16 Other non-current receivables 38 9 Movement in shares in associates 2022 2022Opening carrying amount 3 4 Share of profit 0 1 Closure 0 -2 Closing carrying amount 3 3 The associated companies are deemed not to be material to the Group and further information is therefore not provided.",
"dimensions": {
"concept": "ifrs-full:DisclosureOfInvestmentsAccountedForUsingEquityMethodExplanatory",
"language": "en",
"entity": "scheme:635400VFBLRSFRXLGQ03",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"s8_notes__6__117-1": {
"value": "Movement in shares in associates 2022 2022Opening carrying amount 3 4 Share of profit 0 1 Closure 0 -2 Closing carrying amount 3 3 The associated companies are deemed not to be material to the Group and further information is therefore not provided.Shares owned by subsidiaries Company Office Voting and ownership share Shares owned by 2023 2022Moldskred AS \u00c5lesund 100 % 100 % Norfin ASJAF Arkitektkontor AS Gj\u00f8vik 100 % 100 % Norfin ASDjerving AS Oslo 100 % 100 % Norfin ASPlanr\u00e5d AS Lillehammer 100 % 100 % Norfin ASArkitekthuset Monarken AB Lule\u00e5 100 % 100 % Norconsult Sverige ABNOCA Teknik AB G\u00f8teborg 100 % 100 % Norconsult Sverige ABNorconsult Boreteknikk AS Torp 100 % 100 % Norconsult F\u00e4ltgeoteknik ABSkovhus Arkitekter A/S Aarhus 100 % 100 % Norconsult Danmark A/SKAAI A/S Aarhus og Aalborg 100 % 100 % Norconsult Danmark A/SKHS Arkitekter A/S Kongens Lyngby 100 % 100 % Norconsult Danmark A/SNordic - Office of Architecture A/S K\u00f8benhavn 100 % 100 % Norconsult Danmark A/SRubow Arkitekter Holding A/S K\u00f8benhavn 100 % 100 % Norconsult Danmark A/SNordic Office of Architecture A/S K\u00f8benhavn 100 % 100 % Rubow Arkitekter Holding A/SRubow Arkitekter Aarhus A/S Aarhus 100 % 100 % Rubow Arkitekter Holding A/SNorconsult Jord-Milj\u00f8 A/S Sm\u00f8rum 100 % 100 % Norconsult Danmark A/SNorconsult Jord Teknik A/S Sm\u00f8rum 100 % 100 % Norconsult Danmark A/SLB Consult A/S Grenaa 100 % 100 % Norconsult Danmark A/SIngeni\u00f8rv\u00e6rket ApS Esbjerg 100 % 100 % Norconsult Danmark A/SNorconsult Digital AB Stockholm 100 % 100 % Norconsult Digital ASPure Logic AS Oslo 100 % 100 % Norconsult Digital ASNordic Office of Architecture ehf Reykjavik 100 % 100 % Nordic Office of Architecture ASKristin Jarmund Arkitekter AS Oslo 100 % 100 % Nordic Office of Architecture ASTechnogarden Albatross Prosjektledelse AS Sandvika 100 % 100 % Technogarden ASTechnogarden AB G\u00f8teborg 100 % 100 % Technogarden ASTechnogarden Human Resources AS Sandvika 100 % 100 % Technogarden ASAssociated companies: NorCiv Engineering Co. Ltd Bankok 33,1 % 33,1 % Norconsult Norge AS, Norconsult International ASTeam Urbis AS Oslo 22,5 % 22,5 % Nordic Office of Architecture ASTeam Major AS Oslo 50,0 % 50,0 % Norconsult Norge ASAvro Design Group EHF Reykjavik 30,0 % 30,0 % Nordic Office of Architecture AS",
"dimensions": {
"concept": "ifrs-full:DisclosureOfSignificantInvestmentsInAssociatesExplanatory",
"language": "en",
"entity": "scheme:635400VFBLRSFRXLGQ03",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"s8_notes__6__123": {
"value": "18. Other current assets 2023 2022Prepaid operating expenses 146 107 Prepaid corporate taxes 56 46 Accrued income 0 1 Other current receivables 43 57 Total 245 211",
"dimensions": {
"concept": "ifrs-full:DisclosureOfPrepaymentsAndOtherAssetsExplanatory",
"language": "en",
"entity": "scheme:635400VFBLRSFRXLGQ03",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"s8_notes__6__122": {
"value": "18. Other current assets 2023 2022Prepaid operating expenses 146 107 Prepaid corporate taxes 56 46 Accrued income 0 1 Other current receivables 43 57 Total 245 211",
"dimensions": {
"concept": "ifrs-full:DisclosureOfOtherCurrentAssetsExplanatory",
"language": "en",
"entity": "scheme:635400VFBLRSFRXLGQ03",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"s8_notes__6__125": {
"value": "19. Cash and cash equivalentsAccounting policyCash and cash equivalents in the statement of financial position comprise cash in banks and on hand and short-term highly liquid deposits with a maturity of three months or less, that are readily convertible to a known amount of cash and subject to an insignificant risk of changes in value. For the purpose of the consolidated statement of cash flows, cash and cash equivalents consist of cash and short-term deposits, as defined above. The Group\u2019s investment of excess cash in bond funds is not classified as cash. 2023 2022Cash and bank deposits 535 960 Cash restricted for payment of employee taxes 16 11 Other restricted cash 2 0 Total 553 971",
"dimensions": {
"concept": "ifrs-full:DisclosureOfRestrictedCashAndCashEquivalentsExplanatory",
"language": "en",
"entity": "scheme:635400VFBLRSFRXLGQ03",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"s8_notes__6__124": {
"value": "19. Cash and cash equivalentsAccounting policyCash and cash equivalents in the statement of financial position comprise cash in banks and on hand and short-term highly liquid deposits with a maturity of three months or less, that are readily convertible to a known amount of cash and subject to an insignificant risk of changes in value. For the purpose of the consolidated statement of cash flows, cash and cash equivalents consist of cash and short-term deposits, as defined above. The Group\u2019s investment of excess cash in bond funds is not classified as cash. 2023 2022Cash and bank deposits 535 960 Cash restricted for payment of employee taxes 16 11 Other restricted cash 2 0 Total 553 971",
"dimensions": {
"concept": "ifrs-full:DisclosureOfCashAndCashEquivalentsExplanatory",
"language": "en",
"entity": "scheme:635400VFBLRSFRXLGQ03",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"s8_notes__6__127": {
"value": "Accounting policyCash and cash equivalents in the statement of financial position comprise cash in banks and on hand and short-term highly liquid deposits with a maturity of three months or less, that are readily convertible to a known amount of cash and subject to an insignificant risk of changes in value. For the purpose of the consolidated statement of cash flows, cash and cash equivalents consist of cash and short-term deposits, as defined above. The Group\u2019s investment of excess cash in bond funds is not classified as cash.",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyToDetermineComponentsOfCashAndCashEquivalents",
"language": "en",
"entity": "scheme:635400VFBLRSFRXLGQ03",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"s8_notes__6__126": {
"value": "Accounting policyCash and cash equivalents in the statement of financial position comprise cash in banks and on hand and short-term highly liquid deposits with a maturity of three months or less, that are readily convertible to a known amount of cash and subject to an insignificant risk of changes in value. For the purpose of the consolidated statement of cash flows, cash and cash equivalents consist of cash and short-term deposits, as defined above. The Group\u2019s investment of excess cash in bond funds is not classified as cash.",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForRestrictedCashAndCashEquivalentsExplanatory",
"language": "en",
"entity": "scheme:635400VFBLRSFRXLGQ03",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"s8_notes__6__132": {
"value": "20. Share capital, shareholder information and share redemption financial liabilityAccounting policyOwn equity instruments that are reacquired (treasury shares) are recognised at cost and deducted from equity. No gain or loss is recognised in profit or loss on the purchase, sale, issue or cancellation of the Group\u2019s own equity instruments. Any difference between the carrying amount and the consideration, if reissued, is recognised in retained earnings. Ordinary shares issued and fully paid Number of shares Share capital in NOKOrdinary shares of NOK 0.02 each 310 496 875 6 209 938 2023 2022Dividends paid to shareholders of Norconsult ASA 869 254 Dividends per share 3.08 0.88 Dividends paid to non-controlling interests in 2023 are NOK 0 million (2022: NOK 1 million).An extraordinary general assembly held 11 October 2023 approved a share split of 25 to 1, increasing the number of shares in the Company to 310 496 875 each with a face value of NOK 0.02. All share and per share information in these financial statements have been adjusted to reflect the number of shares after the split.After 31 December 2023, dividends of NOK 343 million (NOK 1.20 per share) are proposed by the Board for approval approved at the annual general meeting in 2024.After 31 December 2022 dividends of NOK 0.96 per share were approved at the annual general meeting held 8 May 2023. Dividends paid out in Q2 2023 were NOK 271.5 million. An extraordinary general assembly held 11 July 2023 gave the board an authorisation to declare a dividend based on the 2022 financial statements. A dividend of NOK 2.12 per share, equal to a total of NOK 597 million was distributed to shareholders in October 2023.During the year the Company purchased 14 014 053 (2022: 18 120 600) own shares for a total consideration of NOK 225 million (2022: NOK 101 million). The Group sold 20 198 111 (2022: 701 325) shares for a total consideration of NOK 305 million (2022: NOK 4 million). Purchased shares correspond to 4.5 % (2022: 5.8 %) of shares issued, and shares sold correspond to 6.5 % of shares issued (2022: 0.2 %)At 31 December 2023 the Company held 24 928 617 treasury shares (2022: 31 112 675). Treasury shares are primarily held for use in the employee shareholder program as described in note 8. In an extraordinary general assembly held in October 2023 the board were authorized to increase the share capital in the Company with up to 10%, to be used in connection with business acquisitions. The capital increase can be in the form of cash and assets other than cash including mergers and demergers. The authorisation is valid until the next ordinary annual meeting but not longer than to 30 June 2024.The board was further authorized to purchase treasury shares up to 10% of the total number of shares issued, to be used in connection with business acquisitions, mergers, demergers, investments or for subsequent sale of acquired shares or share capital reductions. The purchase price is limited from NOK 1 to maximum NOK 200 per share. The authorisation is valid until the next ordinary annual meeting but not longer than to 30 June 2024.The Company\u2019s 20 largest shareholders at 31 December 2023:Name Country Number of shares % of shares outstandingNC-ansattes Holding AS Norway 65 675 058 23,0 %The Bank of New York Mellon SA/NV Ireland 6 940 000 2,4 %CACEIS Bank France 6 757 159 2,4 %DANSKE INVEST NORSKE INSTIT. II. Norway 6 185 500 2,2 %VERDIPAPIRFONDET HOLBERG NORGE Norway 5 600 000 2,0 %VERDIPAPIRFONDET DNB NORGE Norway 5 225 000 1,8 %KVERVA FINANS AS Norway 4 000 000 1,4 %VPF DNB AM NORSKE AKSJER Norway 3 562 500 1,2 %DNB BANK ASA Norway 3 161 927 1,1 %State Street Bank and Trust Comp United States 2 690 000 0,9 %OBOS BBL Norway 2 631 579 0,9 %Nordea Bank Abp Sweden 2 320 443 0,8 %Nordea Bank Abp Sweden 2 285 272 0,8 %Morgan Stanley & Co. Int. Plc. United Kingdom 2 226 470 0,8 %VERDIPAPIRFONDET KLP AKSJENORGE Norway 1 889 290 0,7 %J.P. Morgan SE United Kingdom 1 788 000 0,6 %Swedbank AB Sweden 1 781 427 0,6 %VJ INVEST AS Norway 1 695 429 0,6 %Nordnet Bank AB Sweden 1 650 228 0,6 %MP PENSJON PK Norway 1 578 947 0,6 %Total shares owned by top 20 129 644 229 45,4 %Total number of shares including treasury shares 310 496 875 Total number of shares outstanding excluding treasury shares 285 568 258 To facilitate indirect ownership for 214 existing shareholders in the Company, prior to listing on the Oslo Stock Exchange, NC-ansattes Holding AS was established in September 2023 through a demerger process and holds 23.0% of the shares in the Company. NC-ansattes Holding AS was further demerged in January 2024 after which neither NC-ansattes Holding AS nor any of the 214 demerged entities have an interest in 1% or more of the issued share capital of the Company. Foreign shareholders hold 14.5% of the total issued shares in Norconsult ASA.No shareholder can vote at general assemblies for more than 25% of shares issued.Shares and share options held by members of the Board of Directors and Executive Management including shares controlled through holding companies and related parties as of 31 December 2023: Shares Share optionsNils Morten Huseby, Chair of the Board 52 631 0Mari Thj\u00f8m\u00f8e, Deputy Chair of the Board 21 052 0Vibecke Hverven, Board member 52 631 0Lars-Petter Nesv\u00e5g, Board member 667 809 2 575Harald Trosvik, Board member 218 725 2 575Anni Ulfendahl, Board member 27 961 2 575Helge Hesjedal Wiberg, Board member 40 138 2 575Anne Jenny Bergseth, Board member 32 406 2 575Egil Hogna, CEO 1 129 181 2 575 Dag Fladby, CFO 210 000 2 575 Hege Nj\u00e5 Bj\u00f8rkmann, EVP Communication and brand 140 350 2 575 Janicke Garmann, EVP Sustainability and staff 730 656 2 575 B\u00e5rd Hernes, EVP Norway Head Office 1 327 631 2 575 Vegard Jacobsen, EVP Norway Regions 386 500 2 575 Sten-Ole Nilsen, EVP Renewable Energy 584 150 2 575 Kathrine Duun Moen, EVP Technogarden and Digital 102 631 2 575 Farah Al-Aieshy, EVP Sweden 162 500 2 575 Thomas Bolding Rasmussen, EVP Denmark 175 000 2 575",
"dimensions": {
"concept": "ifrs-full:DisclosureOfTreasurySharesExplanatory",
"language": "en",
"entity": "scheme:635400VFBLRSFRXLGQ03",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"s8_notes__6__131": {
"value": "20. Share capital, shareholder information and share redemption financial liabilityAccounting policyOwn equity instruments that are reacquired (treasury shares) are recognised at cost and deducted from equity. No gain or loss is recognised in profit or loss on the purchase, sale, issue or cancellation of the Group\u2019s own equity instruments. Any difference between the carrying amount and the consideration, if reissued, is recognised in retained earnings. Ordinary shares issued and fully paid Number of shares Share capital in NOKOrdinary shares of NOK 0.02 each 310 496 875 6 209 938 2023 2022Dividends paid to shareholders of Norconsult ASA 869 254 Dividends per share 3.08 0.88 Dividends paid to non-controlling interests in 2023 are NOK 0 million (2022: NOK 1 million).An extraordinary general assembly held 11 October 2023 approved a share split of 25 to 1, increasing the number of shares in the Company to 310 496 875 each with a face value of NOK 0.02. All share and per share information in these financial statements have been adjusted to reflect the number of shares after the split.After 31 December 2023, dividends of NOK 343 million (NOK 1.20 per share) are proposed by the Board for approval approved at the annual general meeting in 2024.After 31 December 2022 dividends of NOK 0.96 per share were approved at the annual general meeting held 8 May 2023. Dividends paid out in Q2 2023 were NOK 271.5 million. An extraordinary general assembly held 11 July 2023 gave the board an authorisation to declare a dividend based on the 2022 financial statements. A dividend of NOK 2.12 per share, equal to a total of NOK 597 million was distributed to shareholders in October 2023.During the year the Company purchased 14 014 053 (2022: 18 120 600) own shares for a total consideration of NOK 225 million (2022: NOK 101 million). The Group sold 20 198 111 (2022: 701 325) shares for a total consideration of NOK 305 million (2022: NOK 4 million). Purchased shares correspond to 4.5 % (2022: 5.8 %) of shares issued, and shares sold correspond to 6.5 % of shares issued (2022: 0.2 %)At 31 December 2023 the Company held 24 928 617 treasury shares (2022: 31 112 675). Treasury shares are primarily held for use in the employee shareholder program as described in note 8. In an extraordinary general assembly held in October 2023 the board were authorized to increase the share capital in the Company with up to 10%, to be used in connection with business acquisitions. The capital increase can be in the form of cash and assets other than cash including mergers and demergers. The authorisation is valid until the next ordinary annual meeting but not longer than to 30 June 2024.The board was further authorized to purchase treasury shares up to 10% of the total number of shares issued, to be used in connection with business acquisitions, mergers, demergers, investments or for subsequent sale of acquired shares or share capital reductions. The purchase price is limited from NOK 1 to maximum NOK 200 per share. The authorisation is valid until the next ordinary annual meeting but not longer than to 30 June 2024.The Company\u2019s 20 largest shareholders at 31 December 2023:Name Country Number of shares % of shares outstandingNC-ansattes Holding AS Norway 65 675 058 23,0 %The Bank of New York Mellon SA/NV Ireland 6 940 000 2,4 %CACEIS Bank France 6 757 159 2,4 %DANSKE INVEST NORSKE INSTIT. II. Norway 6 185 500 2,2 %VERDIPAPIRFONDET HOLBERG NORGE Norway 5 600 000 2,0 %VERDIPAPIRFONDET DNB NORGE Norway 5 225 000 1,8 %KVERVA FINANS AS Norway 4 000 000 1,4 %VPF DNB AM NORSKE AKSJER Norway 3 562 500 1,2 %DNB BANK ASA Norway 3 161 927 1,1 %State Street Bank and Trust Comp United States 2 690 000 0,9 %OBOS BBL Norway 2 631 579 0,9 %Nordea Bank Abp Sweden 2 320 443 0,8 %Nordea Bank Abp Sweden 2 285 272 0,8 %Morgan Stanley & Co. Int. Plc. United Kingdom 2 226 470 0,8 %VERDIPAPIRFONDET KLP AKSJENORGE Norway 1 889 290 0,7 %J.P. Morgan SE United Kingdom 1 788 000 0,6 %Swedbank AB Sweden 1 781 427 0,6 %VJ INVEST AS Norway 1 695 429 0,6 %Nordnet Bank AB Sweden 1 650 228 0,6 %MP PENSJON PK Norway 1 578 947 0,6 %Total shares owned by top 20 129 644 229 45,4 %Total number of shares including treasury shares 310 496 875 Total number of shares outstanding excluding treasury shares 285 568 258 To facilitate indirect ownership for 214 existing shareholders in the Company, prior to listing on the Oslo Stock Exchange, NC-ansattes Holding AS was established in September 2023 through a demerger process and holds 23.0% of the shares in the Company. NC-ansattes Holding AS was further demerged in January 2024 after which neither NC-ansattes Holding AS nor any of the 214 demerged entities have an interest in 1% or more of the issued share capital of the Company. Foreign shareholders hold 14.5% of the total issued shares in Norconsult ASA.No shareholder can vote at general assemblies for more than 25% of shares issued.Shares and share options held by members of the Board of Directors and Executive Management including shares controlled through holding companies and related parties as of 31 December 2023: Shares Share optionsNils Morten Huseby, Chair of the Board 52 631 0Mari Thj\u00f8m\u00f8e, Deputy Chair of the Board 21 052 0Vibecke Hverven, Board member 52 631 0Lars-Petter Nesv\u00e5g, Board member 667 809 2 575Harald Trosvik, Board member 218 725 2 575Anni Ulfendahl, Board member 27 961 2 575Helge Hesjedal Wiberg, Board member 40 138 2 575Anne Jenny Bergseth, Board member 32 406 2 575Egil Hogna, CEO 1 129 181 2 575 Dag Fladby, CFO 210 000 2 575 Hege Nj\u00e5 Bj\u00f8rkmann, EVP Communication and brand 140 350 2 575 Janicke Garmann, EVP Sustainability and staff 730 656 2 575 B\u00e5rd Hernes, EVP Norway Head Office 1 327 631 2 575 Vegard Jacobsen, EVP Norway Regions 386 500 2 575 Sten-Ole Nilsen, EVP Renewable Energy 584 150 2 575 Kathrine Duun Moen, EVP Technogarden and Digital 102 631 2 575 Farah Al-Aieshy, EVP Sweden 162 500 2 575 Thomas Bolding Rasmussen, EVP Denmark 175 000 2 575",
"dimensions": {
"concept": "ifrs-full:DisclosureOfDividendsExplanatory",
"language": "en",
"entity": "scheme:635400VFBLRSFRXLGQ03",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"s8_notes__6__130": {
"value": "20. Share capital, shareholder information and share redemption financial liabilityAccounting policyOwn equity instruments that are reacquired (treasury shares) are recognised at cost and deducted from equity. No gain or loss is recognised in profit or loss on the purchase, sale, issue or cancellation of the Group\u2019s own equity instruments. Any difference between the carrying amount and the consideration, if reissued, is recognised in retained earnings. Ordinary shares issued and fully paid Number of shares Share capital in NOKOrdinary shares of NOK 0.02 each 310 496 875 6 209 938 2023 2022Dividends paid to shareholders of Norconsult ASA 869 254 Dividends per share 3.08 0.88 Dividends paid to non-controlling interests in 2023 are NOK 0 million (2022: NOK 1 million).An extraordinary general assembly held 11 October 2023 approved a share split of 25 to 1, increasing the number of shares in the Company to 310 496 875 each with a face value of NOK 0.02. All share and per share information in these financial statements have been adjusted to reflect the number of shares after the split.After 31 December 2023, dividends of NOK 343 million (NOK 1.20 per share) are proposed by the Board for approval approved at the annual general meeting in 2024.After 31 December 2022 dividends of NOK 0.96 per share were approved at the annual general meeting held 8 May 2023. Dividends paid out in Q2 2023 were NOK 271.5 million. An extraordinary general assembly held 11 July 2023 gave the board an authorisation to declare a dividend based on the 2022 financial statements. A dividend of NOK 2.12 per share, equal to a total of NOK 597 million was distributed to shareholders in October 2023.During the year the Company purchased 14 014 053 (2022: 18 120 600) own shares for a total consideration of NOK 225 million (2022: NOK 101 million). The Group sold 20 198 111 (2022: 701 325) shares for a total consideration of NOK 305 million (2022: NOK 4 million). Purchased shares correspond to 4.5 % (2022: 5.8 %) of shares issued, and shares sold correspond to 6.5 % of shares issued (2022: 0.2 %)At 31 December 2023 the Company held 24 928 617 treasury shares (2022: 31 112 675). Treasury shares are primarily held for use in the employee shareholder program as described in note 8. In an extraordinary general assembly held in October 2023 the board were authorized to increase the share capital in the Company with up to 10%, to be used in connection with business acquisitions. The capital increase can be in the form of cash and assets other than cash including mergers and demergers. The authorisation is valid until the next ordinary annual meeting but not longer than to 30 June 2024.The board was further authorized to purchase treasury shares up to 10% of the total number of shares issued, to be used in connection with business acquisitions, mergers, demergers, investments or for subsequent sale of acquired shares or share capital reductions. The purchase price is limited from NOK 1 to maximum NOK 200 per share. The authorisation is valid until the next ordinary annual meeting but not longer than to 30 June 2024.The Company\u2019s 20 largest shareholders at 31 December 2023:Name Country Number of shares % of shares outstandingNC-ansattes Holding AS Norway 65 675 058 23,0 %The Bank of New York Mellon SA/NV Ireland 6 940 000 2,4 %CACEIS Bank France 6 757 159 2,4 %DANSKE INVEST NORSKE INSTIT. II. Norway 6 185 500 2,2 %VERDIPAPIRFONDET HOLBERG NORGE Norway 5 600 000 2,0 %VERDIPAPIRFONDET DNB NORGE Norway 5 225 000 1,8 %KVERVA FINANS AS Norway 4 000 000 1,4 %VPF DNB AM NORSKE AKSJER Norway 3 562 500 1,2 %DNB BANK ASA Norway 3 161 927 1,1 %State Street Bank and Trust Comp United States 2 690 000 0,9 %OBOS BBL Norway 2 631 579 0,9 %Nordea Bank Abp Sweden 2 320 443 0,8 %Nordea Bank Abp Sweden 2 285 272 0,8 %Morgan Stanley & Co. Int. Plc. United Kingdom 2 226 470 0,8 %VERDIPAPIRFONDET KLP AKSJENORGE Norway 1 889 290 0,7 %J.P. Morgan SE United Kingdom 1 788 000 0,6 %Swedbank AB Sweden 1 781 427 0,6 %VJ INVEST AS Norway 1 695 429 0,6 %Nordnet Bank AB Sweden 1 650 228 0,6 %MP PENSJON PK Norway 1 578 947 0,6 %Total shares owned by top 20 129 644 229 45,4 %Total number of shares including treasury shares 310 496 875 Total number of shares outstanding excluding treasury shares 285 568 258 To facilitate indirect ownership for 214 existing shareholders in the Company, prior to listing on the Oslo Stock Exchange, NC-ansattes Holding AS was established in September 2023 through a demerger process and holds 23.0% of the shares in the Company. NC-ansattes Holding AS was further demerged in January 2024 after which neither NC-ansattes Holding AS nor any of the 214 demerged entities have an interest in 1% or more of the issued share capital of the Company. Foreign shareholders hold 14.5% of the total issued shares in Norconsult ASA.No shareholder can vote at general assemblies for more than 25% of shares issued.Shares and share options held by members of the Board of Directors and Executive Management including shares controlled through holding companies and related parties as of 31 December 2023: Shares Share optionsNils Morten Huseby, Chair of the Board 52 631 0Mari Thj\u00f8m\u00f8e, Deputy Chair of the Board 21 052 0Vibecke Hverven, Board member 52 631 0Lars-Petter Nesv\u00e5g, Board member 667 809 2 575Harald Trosvik, Board member 218 725 2 575Anni Ulfendahl, Board member 27 961 2 575Helge Hesjedal Wiberg, Board member 40 138 2 575Anne Jenny Bergseth, Board member 32 406 2 575Egil Hogna, CEO 1 129 181 2 575 Dag Fladby, CFO 210 000 2 575 Hege Nj\u00e5 Bj\u00f8rkmann, EVP Communication and brand 140 350 2 575 Janicke Garmann, EVP Sustainability and staff 730 656 2 575 B\u00e5rd Hernes, EVP Norway Head Office 1 327 631 2 575 Vegard Jacobsen, EVP Norway Regions 386 500 2 575 Sten-Ole Nilsen, EVP Renewable Energy 584 150 2 575 Kathrine Duun Moen, EVP Technogarden and Digital 102 631 2 575 Farah Al-Aieshy, EVP Sweden 162 500 2 575 Thomas Bolding Rasmussen, EVP Denmark 175 000 2 575",
"dimensions": {
"concept": "ifrs-full:DisclosureOfIssuedCapitalExplanatory",
"language": "en",
"entity": "scheme:635400VFBLRSFRXLGQ03",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"s8_notes__6__129": {
"value": "20. Share capital, shareholder information and share redemption financial liabilityAccounting policyOwn equity instruments that are reacquired (treasury shares) are recognised at cost and deducted from equity. No gain or loss is recognised in profit or loss on the purchase, sale, issue or cancellation of the Group\u2019s own equity instruments. Any difference between the carrying amount and the consideration, if reissued, is recognised in retained earnings. Ordinary shares issued and fully paid Number of shares Share capital in NOKOrdinary shares of NOK 0.02 each 310 496 875 6 209 938 2023 2022Dividends paid to shareholders of Norconsult ASA 869 254 Dividends per share 3.08 0.88 Dividends paid to non-controlling interests in 2023 are NOK 0 million (2022: NOK 1 million).An extraordinary general assembly held 11 October 2023 approved a share split of 25 to 1, increasing the number of shares in the Company to 310 496 875 each with a face value of NOK 0.02. All share and per share information in these financial statements have been adjusted to reflect the number of shares after the split.After 31 December 2023, dividends of NOK 343 million (NOK 1.20 per share) are proposed by the Board for approval approved at the annual general meeting in 2024.After 31 December 2022 dividends of NOK 0.96 per share were approved at the annual general meeting held 8 May 2023. Dividends paid out in Q2 2023 were NOK 271.5 million. An extraordinary general assembly held 11 July 2023 gave the board an authorisation to declare a dividend based on the 2022 financial statements. A dividend of NOK 2.12 per share, equal to a total of NOK 597 million was distributed to shareholders in October 2023.During the year the Company purchased 14 014 053 (2022: 18 120 600) own shares for a total consideration of NOK 225 million (2022: NOK 101 million). The Group sold 20 198 111 (2022: 701 325) shares for a total consideration of NOK 305 million (2022: NOK 4 million). Purchased shares correspond to 4.5 % (2022: 5.8 %) of shares issued, and shares sold correspond to 6.5 % of shares issued (2022: 0.2 %)At 31 December 2023 the Company held 24 928 617 treasury shares (2022: 31 112 675). Treasury shares are primarily held for use in the employee shareholder program as described in note 8. In an extraordinary general assembly held in October 2023 the board were authorized to increase the share capital in the Company with up to 10%, to be used in connection with business acquisitions. The capital increase can be in the form of cash and assets other than cash including mergers and demergers. The authorisation is valid until the next ordinary annual meeting but not longer than to 30 June 2024.The board was further authorized to purchase treasury shares up to 10% of the total number of shares issued, to be used in connection with business acquisitions, mergers, demergers, investments or for subsequent sale of acquired shares or share capital reductions. The purchase price is limited from NOK 1 to maximum NOK 200 per share. The authorisation is valid until the next ordinary annual meeting but not longer than to 30 June 2024.The Company\u2019s 20 largest shareholders at 31 December 2023:Name Country Number of shares % of shares outstandingNC-ansattes Holding AS Norway 65 675 058 23,0 %The Bank of New York Mellon SA/NV Ireland 6 940 000 2,4 %CACEIS Bank France 6 757 159 2,4 %DANSKE INVEST NORSKE INSTIT. II. Norway 6 185 500 2,2 %VERDIPAPIRFONDET HOLBERG NORGE Norway 5 600 000 2,0 %VERDIPAPIRFONDET DNB NORGE Norway 5 225 000 1,8 %KVERVA FINANS AS Norway 4 000 000 1,4 %VPF DNB AM NORSKE AKSJER Norway 3 562 500 1,2 %DNB BANK ASA Norway 3 161 927 1,1 %State Street Bank and Trust Comp United States 2 690 000 0,9 %OBOS BBL Norway 2 631 579 0,9 %Nordea Bank Abp Sweden 2 320 443 0,8 %Nordea Bank Abp Sweden 2 285 272 0,8 %Morgan Stanley & Co. Int. Plc. United Kingdom 2 226 470 0,8 %VERDIPAPIRFONDET KLP AKSJENORGE Norway 1 889 290 0,7 %J.P. Morgan SE United Kingdom 1 788 000 0,6 %Swedbank AB Sweden 1 781 427 0,6 %VJ INVEST AS Norway 1 695 429 0,6 %Nordnet Bank AB Sweden 1 650 228 0,6 %MP PENSJON PK Norway 1 578 947 0,6 %Total shares owned by top 20 129 644 229 45,4 %Total number of shares including treasury shares 310 496 875 Total number of shares outstanding excluding treasury shares 285 568 258 To facilitate indirect ownership for 214 existing shareholders in the Company, prior to listing on the Oslo Stock Exchange, NC-ansattes Holding AS was established in September 2023 through a demerger process and holds 23.0% of the shares in the Company. NC-ansattes Holding AS was further demerged in January 2024 after which neither NC-ansattes Holding AS nor any of the 214 demerged entities have an interest in 1% or more of the issued share capital of the Company. Foreign shareholders hold 14.5% of the total issued shares in Norconsult ASA.No shareholder can vote at general assemblies for more than 25% of shares issued.Shares and share options held by members of the Board of Directors and Executive Management including shares controlled through holding companies and related parties as of 31 December 2023: Shares Share optionsNils Morten Huseby, Chair of the Board 52 631 0Mari Thj\u00f8m\u00f8e, Deputy Chair of the Board 21 052 0Vibecke Hverven, Board member 52 631 0Lars-Petter Nesv\u00e5g, Board member 667 809 2 575Harald Trosvik, Board member 218 725 2 575Anni Ulfendahl, Board member 27 961 2 575Helge Hesjedal Wiberg, Board member 40 138 2 575Anne Jenny Bergseth, Board member 32 406 2 575Egil Hogna, CEO 1 129 181 2 575 Dag Fladby, CFO 210 000 2 575 Hege Nj\u00e5 Bj\u00f8rkmann, EVP Communication and brand 140 350 2 575 Janicke Garmann, EVP Sustainability and staff 730 656 2 575 B\u00e5rd Hernes, EVP Norway Head Office 1 327 631 2 575 Vegard Jacobsen, EVP Norway Regions 386 500 2 575 Sten-Ole Nilsen, EVP Renewable Energy 584 150 2 575 Kathrine Duun Moen, EVP Technogarden and Digital 102 631 2 575 Farah Al-Aieshy, EVP Sweden 162 500 2 575 Thomas Bolding Rasmussen, EVP Denmark 175 000 2 575",
"dimensions": {
"concept": "ifrs-full:DisclosureOfShareCapitalReservesAndOtherEquityInterestExplanatory",
"language": "en",
"entity": "scheme:635400VFBLRSFRXLGQ03",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"s8_notes__6__134": {
"value": "Accounting policyOwn equity instruments that are reacquired (treasury shares) are recognised at cost and deducted from equity. No gain or loss is recognised in profit or loss on the purchase, sale, issue or cancellation of the Group\u2019s own equity instruments. Any difference between the carrying amount and the consideration, if reissued, is recognised in retained earnings.",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForTreasurySharesExplanatory",
"language": "en",
"entity": "scheme:635400VFBLRSFRXLGQ03",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"s8_notes__6__133": {
"value": "Accounting policyOwn equity instruments that are reacquired (treasury shares) are recognised at cost and deducted from equity. No gain or loss is recognised in profit or loss on the purchase, sale, issue or cancellation of the Group\u2019s own equity instruments. Any difference between the carrying amount and the consideration, if reissued, is recognised in retained earnings.",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForDividendsExplanatory",
"language": "en",
"entity": "scheme:635400VFBLRSFRXLGQ03",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"s8_notes__6__135": {
"value": "343000000",
"decimals": -6,
"dimensions": {
"concept": "ifrs-full:DividendsProposedOrDeclaredBeforeFinancialStatementsAuthorisedForIssueButNotRecognisedAsDistributionToOwners",
"entity": "scheme:635400VFBLRSFRXLGQ03",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"unit": "iso4217:NOK"
}
},
"s8_notes__6__136": {
"value": "1.2",
"decimals": 2,
"dimensions": {
"concept": "ifrs-full:DividendsProposedOrDeclaredBeforeFinancialStatementsAuthorisedForIssueButNotRecognisedAsDistributionToOwnersPerShare",
"entity": "scheme:635400VFBLRSFRXLGQ03",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"unit": "iso4217:NOK/xbrli:shares"
}
},
"s8_notes__8__137": {
"value": "0.96",
"decimals": 2,
"dimensions": {
"concept": "ifrs-full:DividendsRecognisedAsDistributionsToOwnersPerShare",
"entity": "scheme:635400VFBLRSFRXLGQ03",
"period": "2023-01-01T00:00:00/2023-07-01T00:00:00",
"unit": "iso4217:NOK/xbrli:shares"
}
},
"s8_notes__8__138": {
"value": "271500000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:DividendsPaid",
"entity": "scheme:635400VFBLRSFRXLGQ03",
"period": "2023-01-01T00:00:00/2023-07-01T00:00:00",
"unit": "iso4217:NOK"
}
},
"s8_notes__9__139": {
"value": "2.12",
"decimals": 2,
"dimensions": {
"concept": "ifrs-full:DividendsRecognisedAsDistributionsToOwnersPerShare",
"entity": "scheme:635400VFBLRSFRXLGQ03",
"period": "2023-10-01T00:00:00/2024-01-01T00:00:00",
"unit": "iso4217:NOK/xbrli:shares"
}
},
"s8_notes__9__140": {
"value": "597000000",
"decimals": -6,
"dimensions": {
"concept": "ifrs-full:DividendsPaid",
"entity": "scheme:635400VFBLRSFRXLGQ03",
"period": "2023-10-01T00:00:00/2024-01-01T00:00:00",
"unit": "iso4217:NOK"
}
},
"s8_notes__6__142-1": {
"value": "21. Other non-current debt and accruals 2023 2022Deposits 0 14 Other long-term debt 39 27 Total 39 41 Movement in contingent consideration for business combinations 2023 2022Opening carrying amount 0 29 Increased 0 13 Released 0 0 Paid 0 -1 Reclassified to current liabilities 0 -41 Closing carrying amount 0 0 Expected to be settled within one year 0 4122. Other current liabilitiesAccounting policiesProvisions are recognised when the Group has a present obligation as a result of a past event, it is probable that an outflow of resources embodying economic benefits will be required to settle the obligation and a reliable estimate can be made of the amount of the obligation. If the effect of the time value of money is material, provisions are discounted using a current pre-tax rate that reflects, when appropriate, the risks specific to the liability. When discounting is used, the increase in the provision due to the passage of time is recognised as a finance cost. 2023 2022Public duties payable 920 793 Accrued salary 965 922 Accrued expenses 88 53 Contingent consideration reclassified from non-current liabilities 0 41 Accrued for restructuring 9 0 Total 1 982 1 809 The restructuring accrual is related to a reduction of the staff in the architect business.",
"dimensions": {
"concept": "ifrs-full:DisclosureOfOtherLiabilitiesExplanatory",
"language": "en",
"entity": "scheme:635400VFBLRSFRXLGQ03",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"s8_notes__6__141": {
"value": "21. Other non-current debt and accruals 2023 2022Deposits 0 14 Other long-term debt 39 27 Total 39 41 Movement in contingent consideration for business combinations 2023 2022Opening carrying amount 0 29 Increased 0 13 Released 0 0 Paid 0 -1 Reclassified to current liabilities 0 -41 Closing carrying amount 0 0 Expected to be settled within one year 0 41",
"dimensions": {
"concept": "ifrs-full:DisclosureOfOtherNoncurrentLiabilitiesExplanatory",
"language": "en",
"entity": "scheme:635400VFBLRSFRXLGQ03",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"s8_notes__6__147": {
"value": "22. Other current liabilitiesAccounting policiesProvisions are recognised when the Group has a present obligation as a result of a past event, it is probable that an outflow of resources embodying economic benefits will be required to settle the obligation and a reliable estimate can be made of the amount of the obligation. If the effect of the time value of money is material, provisions are discounted using a current pre-tax rate that reflects, when appropriate, the risks specific to the liability. When discounting is used, the increase in the provision due to the passage of time is recognised as a finance cost. 2023 2022Public duties payable 920 793 Accrued salary 965 922 Accrued expenses 88 53 Contingent consideration reclassified from non-current liabilities 0 41 Accrued for restructuring 9 0 Total 1 982 1 809 The restructuring accrual is related to a reduction of the staff in the architect business.",
"dimensions": {
"concept": "ifrs-full:DisclosureOfAccruedExpensesAndOtherLiabilitiesExplanatory",
"language": "en",
"entity": "scheme:635400VFBLRSFRXLGQ03",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"s8_notes__6__145": {
"value": "22. Other current liabilitiesAccounting policiesProvisions are recognised when the Group has a present obligation as a result of a past event, it is probable that an outflow of resources embodying economic benefits will be required to settle the obligation and a reliable estimate can be made of the amount of the obligation. If the effect of the time value of money is material, provisions are discounted using a current pre-tax rate that reflects, when appropriate, the risks specific to the liability. When discounting is used, the increase in the provision due to the passage of time is recognised as a finance cost. 2023 2022Public duties payable 920 793 Accrued salary 965 922 Accrued expenses 88 53 Contingent consideration reclassified from non-current liabilities 0 41 Accrued for restructuring 9 0 Total 1 982 1 809 The restructuring accrual is related to a reduction of the staff in the architect business.",
"dimensions": {
"concept": "ifrs-full:DisclosureOfProvisionsExplanatory",
"language": "en",
"entity": "scheme:635400VFBLRSFRXLGQ03",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"s8_notes__6__144": {
"value": "22. Other current liabilitiesAccounting policiesProvisions are recognised when the Group has a present obligation as a result of a past event, it is probable that an outflow of resources embodying economic benefits will be required to settle the obligation and a reliable estimate can be made of the amount of the obligation. If the effect of the time value of money is material, provisions are discounted using a current pre-tax rate that reflects, when appropriate, the risks specific to the liability. When discounting is used, the increase in the provision due to the passage of time is recognised as a finance cost. 2023 2022Public duties payable 920 793 Accrued salary 965 922 Accrued expenses 88 53 Contingent consideration reclassified from non-current liabilities 0 41 Accrued for restructuring 9 0 Total 1 982 1 809 The restructuring accrual is related to a reduction of the staff in the architect business.",
"dimensions": {
"concept": "ifrs-full:DisclosureOfOtherCurrentLiabilitiesExplanatory",
"language": "en",
"entity": "scheme:635400VFBLRSFRXLGQ03",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"s8_notes__6__146": {
"value": "Accounting policiesProvisions are recognised when the Group has a present obligation as a result of a past event, it is probable that an outflow of resources embodying economic benefits will be required to settle the obligation and a reliable estimate can be made of the amount of the obligation. If the effect of the time value of money is material, provisions are discounted using a current pre-tax rate that reflects, when appropriate, the risks specific to the liability. When discounting is used, the increase in the provision due to the passage of time is recognised as a finance cost.",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForProvisionsExplanatory",
"language": "en",
"entity": "scheme:635400VFBLRSFRXLGQ03",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"s8_notes__6__149": {
"value": "23. Subsidiaries and composition of the groupSubsidiaries owned by Norconsult ASA Company Office Voting and ownership share 2023 2022Norconsult Norge AS Sandvika 100 % 100 % Shares owned by subsidiaries Company Office Voting and ownership share Shares owned by 2023 2022Norconsult International AS Sandvika 100 % 100 % Norconsult Norge ASNorfin AS Sandvika 100 % 100 % Norconsult Norge ASTechnogarden AS Sandvika 100 % 100 % Norconsult Norge ASNorconsult Digital AS Sandvika 100 % 100 % Norconsult Norge ASNordic Office of Architecture AS Oslo 100 % 100 % Norconsult Norge ASNorconsult Sverige AB G\u00f8teborg 100 % 100 % Norconsult Norge ASNorconsult Danmark A/S K\u00f8benhavn 100 % 100 % Norconsult Norge ASNorconsult Polska Sp. z o.o Krakow 100 % 100 % Norconsult Norge ASNorconsult Island ehf Reykjavik 100 % 100 % Norconsult Norge ASNorconsult Africa (PtY) Ltd Johannesburg 100 % 100 % Norconsult Norge ASNorconsult Mozambique Ltd. Maputo 100 % 100 % Norconsult Norge ASNorconsult Botswana (Pty) Ltd Gaborone 100 % 100 % Norconsult Norge ASNorpower Sdn Bhd Kuching 100 % 100 % Norconsult Norge ASNorconsult Man. Serv. Phil Ltd. Manila 100 % 100 % Norconsult Norge ASNorconsult New Zealand Ltd. Auckland 100 % 100 % Norconsult Norge ASKjeller Vindteknikk AB Stockholm 100 % 100 % Norconsult Norge ASKjeller Vindteknikk OY Espoo 100 % 100 % Norconsult Norge ASProptech City AS Bergen 92 % 92 % Norconsult Norge ASNorconsult F\u00e4ltgeoteknik AB G\u00f8teborg 100 % 100 % Norconsult Sverige ABAreal & Eiendom AS Lillestr\u00f8m 100 % 100 % Norfin AS23. Subsidiaries and composition of the group fortsShares owned by subsidiaries Company Office Voting and ownership share Shares owned by 2023 2022Moldskred AS \u00c5lesund 100 % 100 % Norfin ASJAF Arkitektkontor AS Gj\u00f8vik 100 % 100 % Norfin ASDjerving AS Oslo 100 % 100 % Norfin ASPlanr\u00e5d AS Lillehammer 100 % 100 % Norfin ASArkitekthuset Monarken AB Lule\u00e5 100 % 100 % Norconsult Sverige ABNOCA Teknik AB G\u00f8teborg 100 % 100 % Norconsult Sverige ABNorconsult Boreteknikk AS Torp 100 % 100 % Norconsult F\u00e4ltgeoteknik ABSkovhus Arkitekter A/S Aarhus 100 % 100 % Norconsult Danmark A/SKAAI A/S Aarhus og Aalborg 100 % 100 % Norconsult Danmark A/SKHS Arkitekter A/S Kongens Lyngby 100 % 100 % Norconsult Danmark A/SNordic - Office of Architecture A/S K\u00f8benhavn 100 % 100 % Norconsult Danmark A/SRubow Arkitekter Holding A/S K\u00f8benhavn 100 % 100 % Norconsult Danmark A/SNordic Office of Architecture A/S K\u00f8benhavn 100 % 100 % Rubow Arkitekter Holding A/SRubow Arkitekter Aarhus A/S Aarhus 100 % 100 % Rubow Arkitekter Holding A/SNorconsult Jord-Milj\u00f8 A/S Sm\u00f8rum 100 % 100 % Norconsult Danmark A/SNorconsult Jord Teknik A/S Sm\u00f8rum 100 % 100 % Norconsult Danmark A/SLB Consult A/S Grenaa 100 % 100 % Norconsult Danmark A/SIngeni\u00f8rv\u00e6rket ApS Esbjerg 100 % 100 % Norconsult Danmark A/SNorconsult Digital AB Stockholm 100 % 100 % Norconsult Digital ASPure Logic AS Oslo 100 % 100 % Norconsult Digital ASNordic Office of Architecture ehf Reykjavik 100 % 100 % Nordic Office of Architecture ASKristin Jarmund Arkitekter AS Oslo 100 % 100 % Nordic Office of Architecture ASTechnogarden Albatross Prosjektledelse AS Sandvika 100 % 100 % Technogarden ASTechnogarden AB G\u00f8teborg 100 % 100 % Technogarden ASTechnogarden Human Resources AS Sandvika 100 % 100 % Technogarden ASAssociated companies: NorCiv Engineering Co. Ltd Bankok 33,1 % 33,1 % Norconsult Norge AS, Norconsult International ASTeam Urbis AS Oslo 22,5 % 22,5 % Nordic Office of Architecture ASTeam Major AS Oslo 50,0 % 50,0 % Norconsult Norge ASAvro Design Group EHF Reykjavik 30,0 % 30,0 % Nordic Office of Architecture AS",
"dimensions": {
"concept": "ifrs-full:DisclosureOfSignificantInvestmentsInSubsidiariesExplanatory",
"language": "en",
"entity": "scheme:635400VFBLRSFRXLGQ03",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"s8_notes__6__152": {
"value": "24. Pledges and commitmentsThe Company has a global cash pool agreement with credit facility (\u201cOverdraft facility\u201d) with Nordea Bank Abp, filial i Sverige of NOK 500 million (2022: NOK 350 million) valid until 31 December 2024 with an extension option at the lender\u2019s discretion. The Overdraft facility includes a negative pledge and is secured by a NOK 900 million pledge over the trade receivables of Norconsult Norge AS.On 6 October 2023 the Company entered into a NOK 600 million bilateral revolving credit facility (\u201cRCF\u201d) with DNB Bank ASA to expand the financial flexibility related to mergers and acquisitions. The RCF has a term of one year from 6 October 2023 with an extension option of one year at the lender\u2019s discretion following an extension request from the Company. The RCF is secured by a NOK 625 million pledge over the trade receivables of Norconsult Norge AS. Both the Overdraft facility and the RCF has a financial covenant requiring the Group to ensure that the ratio of net interest-bearing debt to adjusted EBITDA for the last 12 months, measured quarterly, of the Group is below 2.50:1. The Overdraft facility has a financial covenant requiring the Groups equity percentage to be above 20%. The Group is in compliance with both requirements at 31 December 2023.The carrying value of the pledged trade receivables is NOK 1 130 million (NOK 907 million).Guarantees issued by financial institutions on behalf of the Group: 2023 2022Guarantee for employee taxes withheld 214 218Contract guarantees 73 82Total 287 300",
"dimensions": {
"concept": "ifrs-full:DisclosureOfCommitmentsExplanatory",
"language": "en",
"entity": "scheme:635400VFBLRSFRXLGQ03",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"s8_notes__6__151": {
"value": "24. Pledges and commitmentsThe Company has a global cash pool agreement with credit facility (\u201cOverdraft facility\u201d) with Nordea Bank Abp, filial i Sverige of NOK 500 million (2022: NOK 350 million) valid until 31 December 2024 with an extension option at the lender\u2019s discretion. The Overdraft facility includes a negative pledge and is secured by a NOK 900 million pledge over the trade receivables of Norconsult Norge AS.On 6 October 2023 the Company entered into a NOK 600 million bilateral revolving credit facility (\u201cRCF\u201d) with DNB Bank ASA to expand the financial flexibility related to mergers and acquisitions. The RCF has a term of one year from 6 October 2023 with an extension option of one year at the lender\u2019s discretion following an extension request from the Company. The RCF is secured by a NOK 625 million pledge over the trade receivables of Norconsult Norge AS. Both the Overdraft facility and the RCF has a financial covenant requiring the Group to ensure that the ratio of net interest-bearing debt to adjusted EBITDA for the last 12 months, measured quarterly, of the Group is below 2.50:1. The Overdraft facility has a financial covenant requiring the Groups equity percentage to be above 20%. The Group is in compliance with both requirements at 31 December 2023.The carrying value of the pledged trade receivables is NOK 1 130 million (NOK 907 million).Guarantees issued by financial institutions on behalf of the Group: 2023 2022Guarantee for employee taxes withheld 214 218Contract guarantees 73 82Total 287 300DisputesNorconsult participated in two groups of advisers that entered into contracts with AOT Airport of Thailand (AAT) in connection with the establishment of Suvarnabhumi Airport in Bangkok. Neither of these contracts had an agreed limitation of liability. Shortly after the airport\u2019s opening in September 2006, there was damage to the asphalt surface as a result of flooding. The Group\u2019s opinion is that this is not due to design errors. AAT has nevertheless demanded approx. NOK 600 million in compensation for the remedial costs. The dispute was dealt with in arbitration in Thailand in 2017. The arbitral tribunal assessed that the claim should have been raised before ordinary courts and the merits of the case were therefore not dealt with. The AAT has not initiated new proceedings before ordinary courts. In the Company\u2019s view, there is very little risk in this case.",
"dimensions": {
"concept": "ifrs-full:DisclosureOfCommitmentsAndContingentLiabilitiesExplanatory",
"language": "en",
"entity": "scheme:635400VFBLRSFRXLGQ03",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"s8_notes__6__153": {
"value": "DisputesNorconsult participated in two groups of advisers that entered into contracts with AOT Airport of Thailand (AAT) in connection with the establishment of Suvarnabhumi Airport in Bangkok. Neither of these contracts had an agreed limitation of liability. Shortly after the airport\u2019s opening in September 2006, there was damage to the asphalt surface as a result of flooding. The Group\u2019s opinion is that this is not due to design errors. AAT has nevertheless demanded approx. NOK 600 million in compensation for the remedial costs. The dispute was dealt with in arbitration in Thailand in 2017. The arbitral tribunal assessed that the claim should have been raised before ordinary courts and the merits of the case were therefore not dealt with. The AAT has not initiated new proceedings before ordinary courts. In the Company\u2019s view, there is very little risk in this case.",
"dimensions": {
"concept": "ifrs-full:DisclosureOfContingentLiabilitiesExplanatory",
"language": "en",
"entity": "scheme:635400VFBLRSFRXLGQ03",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"s8_notes__6__154": {
"value": "25. Related party transactionsTransactions with related parties comprising shareholders, board of directors and members of Group management are described in note 8. Transactions with associated companies are insignificant. There are no other related party transactions.",
"dimensions": {
"concept": "ifrs-full:DisclosureOfRelatedPartyExplanatory",
"language": "en",
"entity": "scheme:635400VFBLRSFRXLGQ03",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"s8_notes__6__155": {
"value": "26. Subsequent eventsIn January 2024 Norconsult acquired 51% of the shares in SQM AS for an estimated consideration of NOK 29 million with an option to acquire the remaining 49%. SQM as is a project management and consultancy company based in Oslo, Norway. The company has 7 employees and had revenues of NOK 21 million in 2023. The company is consolidated from 31 January 2024 and included in the Norway Head Office business segment. Purchase price allocations are not complete. In February 2024 Norconsult acquired all of the shares in Concreto AS for an estimated consideration of NOK 17 million. Concreto operates within buildings, infrastructure and urban planning with services which primarily focus on economic analysis as a basis for decision-making by project owners in the early phases of projects. The company based in Oslo, Norway, has 13 employees and had revenues of NOK 20 million 2023. The company is consolidated from 29 February 2024 and included in the Norway Head Office business segment. Purchase price allocations are not complete. ",
"dimensions": {
"concept": "ifrs-full:DisclosureOfEventsAfterReportingPeriodExplanatory",
"language": "en",
"entity": "scheme:635400VFBLRSFRXLGQ03",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
}
}
}