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"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 2024 were authorized for issue by the Board of Directors in their meeting on 10 April 2025 and forwarded for approval at the annual general meeting on 5 May 2025.",
"dimensions": {
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"language": "en",
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"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 2024 were authorized for issue by the Board of Directors in their meeting on 10 April 2025 and forwarded for approval at the annual general meeting on 5 May 2025.Norconsult ASA 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 of the Group\u2019s structure is provided in Note 23.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.",
"dimensions": {
"concept": "ifrs-full:DisclosureOfGeneralInformationAboutFinancialStatementsExplanatory",
"language": "en",
"entity": "scheme:635400VFBLRSFRXLGQ03",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
}
},
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"period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
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"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.",
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"value": "2. Material 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 interpretationsAmendments to standards and interpretations with a future effective dateThe Group\u2019s intention is to adopt the relevant new and amended standards and interpretations when they become effective and approved by EU. Amendments and interpretations that apply for the first time in 2024, do not have an impact on the consolidated financial statements of the Group.In April 2024, IASB issued IFRS 18 Presentation and disclosure in Financial Statements which replaces IAS 1 Presentation of Financial Statements and is a response to investors demand for better information about the financial performance of companies.IFRS 18 builds upon the foundation laid by IAS 1, keeping many sections with minimal revisions. However, it introduces new requirements on presentation within the statement of profit or loss, which includes the introduction of specified required totals and subtotals, and new categories of profit or loss. Additionally, it requires disclosure of management-defined performance measures and new principles for determining the location of information with aggregation and disaggregation to reference similar and dissimilar characteristics in the financial statement. IFRS 18 will have effect on Norconsult\u2019s presentation of financial information when effective for reporting periods beginning on or after 1 January 2027. The Group is currently working to identify all impacts the amendments will have on the primary financial statements and notes to the financial statements.The Group has not early adopted any standards, interpretation or amendment that has been issued but is not yet effective. 2.3 Basis of consolidationThe consolidated financial statements comprise the financial statements of the Company and its subsidiaries as at 31 December 2024. Non-controlling interests are not significant.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.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.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 2024 nor 2023. 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 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. The calculated cost is recognised in employee benefits expense, together with a corresponding increase in equity, over the period in which the services are rendered. 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 policyIn accordance with IFRS, defined contribution pension plans are accounted for by recognizing contributions as an expense when they are due. The Group\u2019s pension plans in Norway, Sweden, and Denmark follow this approach.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 3-10 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: \u2022 Office buildings: 1 to 17 years\u2022 IT equipment: 1 to 6 years\u2022 Motor 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. Based on the Safe Harbour tests, Norconsult Group is not exposed to top-up tax payments. Therefore, the consolidated financial statements do not include information required by paragraphs 88A-88D of IAS 12. Given the complexity involved in applying the legislation and in the requisite calculations, Norconsult will continue to evaluate its exposure.Accounting 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 that potentially could give rise to a dilutive effect for other shareholders. Earnings per share is therefore presented with and without a dilutive effect.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:DisclosureOfMaterialAccountingPolicyInformationExplanatory",
"language": "en",
"entity": "scheme:635400VFBLRSFRXLGQ03",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
}
},
"f1__s8__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": "2024-01-01T00:00:00/2025-01-01T00:00:00"
}
},
"f1__s8__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": "2024-01-01T00:00:00/2025-01-01T00:00:00"
}
},
"f1__s8__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": "2024-01-01T00:00:00/2025-01-01T00:00:00"
}
},
"f1__s8__6__22": {
"value": "2.2 New and amended standards and interpretationsAmendments to standards and interpretations with a future effective dateThe Group\u2019s intention is to adopt the relevant new and amended standards and interpretations when they become effective and approved by EU. Amendments and interpretations that apply for the first time in 2024, do not have an impact on the consolidated financial statements of the Group.In April 2024, IASB issued IFRS 18 Presentation and disclosure in Financial Statements which replaces IAS 1 Presentation of Financial Statements and is a response to investors demand for better information about the financial performance of companies.IFRS 18 builds upon the foundation laid by IAS 1, keeping many sections with minimal revisions. However, it introduces new requirements on presentation within the statement of profit or loss, which includes the introduction of specified required totals and subtotals, and new categories of profit or loss. Additionally, it requires disclosure of management-defined performance measures and new principles for determining the location of information with aggregation and disaggregation to reference similar and dissimilar characteristics in the financial statement. IFRS 18 will have effect on Norconsult\u2019s presentation of financial information when effective for reporting periods beginning on or after 1 January 2027. The Group is currently working to identify all impacts the amendments will have on the primary financial statements and notes to the financial statements.The Group has not early adopted any standards, interpretation or amendment that has been issued but is not yet effective.",
"dimensions": {
"concept": "ifrs-full:DisclosureOfChangesInAccountingPoliciesAccountingEstimatesAndErrorsExplanatory",
"language": "en",
"entity": "scheme:635400VFBLRSFRXLGQ03",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
}
},
"f1__s8__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 2024. Non-controlling interests are not significant.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": "2024-01-01T00:00:00/2025-01-01T00:00:00"
}
},
"f1__s8__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 2024. Non-controlling interests are not significant.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": "2024-01-01T00:00:00/2025-01-01T00:00:00"
}
},
"f1__s8__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": "2024-01-01T00:00:00/2025-01-01T00:00:00"
}
},
"f1__s8__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": "2024-01-01T00:00:00/2025-01-01T00:00:00"
}
},
"f1__s8__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": "2024-01-01T00:00:00/2025-01-01T00:00:00"
}
},
"f1__s8__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": "2024-01-01T00:00:00/2025-01-01T00:00:00"
}
},
"f1__s8__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": "2024-01-01T00:00:00/2025-01-01T00:00:00"
}
},
"f1__s8__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": "2024-01-01T00:00:00/2025-01-01T00:00:00"
}
},
"f1__s8__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": "2024-01-01T00:00:00/2025-01-01T00:00:00"
}
},
"f1__s8__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.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.",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForImpairmentOfAssetsExplanatory",
"language": "en",
"entity": "scheme:635400VFBLRSFRXLGQ03",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
}
},
"f1__s8__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": "2024-01-01T00:00:00/2025-01-01T00:00:00"
}
},
"f1__s8__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": "2024-01-01T00:00:00/2025-01-01T00:00:00"
}
},
"f1__s8__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 about the future 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. Areas with such management assessments in the Group are: - 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.Impairment test of goodwillWhen 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 2023 and 2024.Impairment test of goodwill is carried out annually during the fourth quarter. The distribution of goodwill at cash-generating-units (CGU) is listed in the table above. Key assumptions to the impairment test model are based on management best estimates. Estimated future cash flows per cash-generating-unit (CGU) based on value in use 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, terminal value, based on an annual growth in the cash flow of 1.3%, is estimated. The growth rate is a conservative estimation of the long-term growth for the CGUs. Discount rates are estimated based on risk free interest rate (10-year government bond), company specific risks and beta values per CGU with material goodwill are as follows:Discount rate before tax in % for goodwill: 2024 2023Norway Head Office 10.5 % 11.1 %Norway Regions 10.5 % 11.1 %Renewable Energy 10.5 % 11.1 %Sweden 8.9 % 10.0 %Denmark 9.0 % 10.2 %Digitalisation and Technogarden 10.5 % 11.1 %The change in discount rates from 2023 to 2024 are the net effect of a decrease 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": {
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"language": "en",
"entity": "scheme:635400VFBLRSFRXLGQ03",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
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},
"f1__s8__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 about the future 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. Areas with such management assessments in the Group are: - 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": {
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"language": "en",
"entity": "scheme:635400VFBLRSFRXLGQ03",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
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},
"f1__s8__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 about the future 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. Areas with such management assessments in the Group are: - 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.Impairment test of goodwillWhen 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 2023 and 2024.Impairment test of goodwill is carried out annually during the fourth quarter. The distribution of goodwill at cash-generating-units (CGU) is listed in the table above. Key assumptions to the impairment test model are based on management best estimates. Estimated future cash flows per cash-generating-unit (CGU) based on value in use 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, terminal value, based on an annual growth in the cash flow of 1.3%, is estimated. The growth rate is a conservative estimation of the long-term growth for the CGUs. Discount rates are estimated based on risk free interest rate (10-year government bond), company specific risks and beta values per CGU with material goodwill are as follows:Discount rate before tax in % for goodwill: 2024 2023Norway Head Office 10.5 % 11.1 %Norway Regions 10.5 % 11.1 %Renewable Energy 10.5 % 11.1 %Sweden 8.9 % 10.0 %Denmark 9.0 % 10.2 %Digitalisation and Technogarden 10.5 % 11.1 %The change in discount rates from 2023 to 2024 are the net effect of a decrease 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:DisclosureOfAccountingJudgementsAndEstimatesExplanatory",
"language": "en",
"entity": "scheme:635400VFBLRSFRXLGQ03",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
}
},
"f1__s8__6__38": {
"value": "4. Financial risk management Risk exposuresThe Group is exposed to credit risk, foreign currency risk, interest rates risk and liquidity risk.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.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. 2024 2024 2023 2023Age analysis of trade receivables Gross Expected Gross Expected credit losscredit lossNot due 1 449 3 1 472 3 <30 days 188 1 211 3 30-60 days 38 3 34 4 60-90 days 11 1 27 3 >90 days 92 42 90 51 Total 1 779 49 1 834 64 Net trade receivables 1 730 1 769 Change in expected credit loss 2024 2023Opening balance 64 64Increase through acquisitions 0 0Provision in the year 28 41Write-off of uncollectible receivables -11 -4Reversal of unutilized amounts -33 -37Closing balance 49 64Loss on receivables in income statement -3 5Other current and non-current financial receivables have a carrying value of NOK 441 million (2023: NOK 414 million) and mainly consists of investments in debt instruments with investment grade rating. Cash and cash equivalents have a carrying value of NOK 1 198 million (2023: NOK 553 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:2024 <1 year 1-5 years >5 yearsOther non-current debt - 44 35 Trade payables 219 1 - Other current financial liabilities 239 14 - Total 458 59 35 2023 <1 year 1-5 years >5 yearsOther non-current debt - 6 25 Trade payables 266 - - Other current financial liabilities 317 1 - Total 584 7 25For 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 2024 between currencies ISK/NOK, USD/NOK and SEK/NOK (the same as in 2023). A change in 10% of the exchange rate for these currencies would affect the Group\u2019s operating profit by approximately NOK 2 million (2023: NOK 2 million). Effect on other comprehensive income is expected to be 0. 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.Financial instrumentsAccounting 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.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.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.2024Carrying Non- Fair value Fair value Financial instruments amount at Amortized financial over P&L over P&L per category31.12.2024costitem- level 1 input- level 3 inputNon-current 59 20 13 26 financial assetsTrade receivable 1 730 1 730 Contract assets 537 537 Other current assets 235 51 183 2 Other current 414 414 financial assetsCash and cash equivalents 1 198 1 198 Total assets 4 172 3 536 196 441 - Other non-current liabilities 37 37 - - excluding lease liabilitiesTrade payables 220 220 Contract liabilities 229 229 Contingent considerations 43 43 Other current liabilities 2 283 25 2 259 - Total liabilities 2 812 510 2 259 - 43 2023Carrying Non- Fair value Fair value Financial instruments amount at Amortized financial over P&L over P&L per category31.12.2023costitem- level 1 input- level 3 inputNon-current 61 42 19 financial assetsTrade receivable 1 769 1 769 Contract assets 536 536 Other current assets 245 44 201 Other current financial assets 394 394 Cash and cash equivalents 553 553 Total assets 3 558 2 943 201 414 - Other non-current liabilities 39 32 7 - excluding lease liabilitiesTrade payables 266 266 Contract liabilities 196 196 Other current liabilities 1 982 1 982 - Total liabilities 2 483 494 1 989 - -Other current financial assets consist of investments in bond funds where investments have a remaining term of up to 3 years and 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. Fair value for contingent consideration is determined based on terms in the purchase agreement. The most likely outcome is assessed and discounted to reflect the present value of future cash flows. Please see note 5 for further information.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 Quoted (unadjusted) market prices in active markets for identical assets or liabilitiesLevel 2 Valuation techniques for which the lowest level input that is significant to the fair value measurement is directly or indirectly observableLevel 3 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 financial targets. The Group has the following financial targets: - Adjusted EBITA margin of 10% of operating revenue and other income after external project costs over a business cycle - Net interest-bearing debt/adjusted EBITDA ratio not to exceed 2.0x (12 months rolling EBITDA)The adjusted EBITA margin for 2024 is 9.6% (2023: 9.5%). The net interest-bearing debt/adjusted EBITDA ratio at 31 December 2024 is -0.01 (2023: 0.51). 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 1.70 per share is proposed for 2024, in total NOK 512 million (2023: NOK 343 million), representing a dividend of 103% (2023: 66.5%) of profit after tax. The Group\u2019s equity as a percentage of total assets is 35.6% (2023: 32.5%).",
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"concept": "ifrs-full:DisclosureOfFinancialRiskManagementExplanatory",
"language": "en",
"entity": "scheme:635400VFBLRSFRXLGQ03",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
}
},
"f1__s8__6__37": {
"value": "4. Financial risk management Risk exposuresThe Group is exposed to credit risk, foreign currency risk, interest rates risk and liquidity risk.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.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. 2024 2024 2023 2023Age analysis of trade receivables Gross Expected Gross Expected credit losscredit lossNot due 1 449 3 1 472 3 <30 days 188 1 211 3 30-60 days 38 3 34 4 60-90 days 11 1 27 3 >90 days 92 42 90 51 Total 1 779 49 1 834 64 Net trade receivables 1 730 1 769 Change in expected credit loss 2024 2023Opening balance 64 64Increase through acquisitions 0 0Provision in the year 28 41Write-off of uncollectible receivables -11 -4Reversal of unutilized amounts -33 -37Closing balance 49 64Loss on receivables in income statement -3 5Other current and non-current financial receivables have a carrying value of NOK 441 million (2023: NOK 414 million) and mainly consists of investments in debt instruments with investment grade rating. Cash and cash equivalents have a carrying value of NOK 1 198 million (2023: NOK 553 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:2024 <1 year 1-5 years >5 yearsOther non-current debt - 44 35 Trade payables 219 1 - Other current financial liabilities 239 14 - Total 458 59 35 2023 <1 year 1-5 years >5 yearsOther non-current debt - 6 25 Trade payables 266 - - Other current financial liabilities 317 1 - Total 584 7 25For 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 2024 between currencies ISK/NOK, USD/NOK and SEK/NOK (the same as in 2023). A change in 10% of the exchange rate for these currencies would affect the Group\u2019s operating profit by approximately NOK 2 million (2023: NOK 2 million). Effect on other comprehensive income is expected to be 0. 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.Financial instrumentsAccounting 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.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.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.2024Carrying Non- Fair value Fair value Financial instruments amount at Amortized financial over P&L over P&L per category31.12.2024costitem- level 1 input- level 3 inputNon-current 59 20 13 26 financial assetsTrade receivable 1 730 1 730 Contract assets 537 537 Other current assets 235 51 183 2 Other current 414 414 financial assetsCash and cash equivalents 1 198 1 198 Total assets 4 172 3 536 196 441 - Other non-current liabilities 37 37 - - excluding lease liabilitiesTrade payables 220 220 Contract liabilities 229 229 Contingent considerations 43 43 Other current liabilities 2 283 25 2 259 - Total liabilities 2 812 510 2 259 - 43 2023Carrying Non- Fair value Fair value Financial instruments amount at Amortized financial over P&L over P&L per category31.12.2023costitem- level 1 input- level 3 inputNon-current 61 42 19 financial assetsTrade receivable 1 769 1 769 Contract assets 536 536 Other current assets 245 44 201 Other current financial assets 394 394 Cash and cash equivalents 553 553 Total assets 3 558 2 943 201 414 - Other non-current liabilities 39 32 7 - excluding lease liabilitiesTrade payables 266 266 Contract liabilities 196 196 Other current liabilities 1 982 1 982 - Total liabilities 2 483 494 1 989 - -Other current financial assets consist of investments in bond funds where investments have a remaining term of up to 3 years and 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. Fair value for contingent consideration is determined based on terms in the purchase agreement. The most likely outcome is assessed and discounted to reflect the present value of future cash flows. Please see note 5 for further information.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 Quoted (unadjusted) market prices in active markets for identical assets or liabilitiesLevel 2 Valuation techniques for which the lowest level input that is significant to the fair value measurement is directly or indirectly observableLevel 3 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": "2024-01-01T00:00:00/2025-01-01T00:00:00"
}
},
"f1__s8__6__41": {
"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.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. 2024 2024 2023 2023Age analysis of trade receivables Gross Expected Gross Expected credit losscredit lossNot due 1 449 3 1 472 3 <30 days 188 1 211 3 30-60 days 38 3 34 4 60-90 days 11 1 27 3 >90 days 92 42 90 51 Total 1 779 49 1 834 64 Net trade receivables 1 730 1 769 Change in expected credit loss 2024 2023Opening balance 64 64Increase through acquisitions 0 0Provision in the year 28 41Write-off of uncollectible receivables -11 -4Reversal of unutilized amounts -33 -37Closing balance 49 64Loss on receivables in income statement -3 5Other current and non-current financial receivables have a carrying value of NOK 441 million (2023: NOK 414 million) and mainly consists of investments in debt instruments with investment grade rating. Cash and cash equivalents have a carrying value of NOK 1 198 million (2023: NOK 553 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": "2024-01-01T00:00:00/2025-01-01T00:00:00"
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},
"f1__s8__6__40-1": {
"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.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. 2024 2024 2023 2023Age analysis of trade receivables Gross Expected Gross Expected credit losscredit lossNot due 1 449 3 1 472 3 <30 days 188 1 211 3 30-60 days 38 3 34 4 60-90 days 11 1 27 3 >90 days 92 42 90 51 Total 1 779 49 1 834 64 Net trade receivables 1 730 1 769 Change in expected credit loss 2024 2023Opening balance 64 64Increase through acquisitions 0 0Provision in the year 28 41Write-off of uncollectible receivables -11 -4Reversal of unutilized amounts -33 -37Closing balance 49 64Loss on receivables in income statement -3 5Other current and non-current financial receivables have a carrying value of NOK 441 million (2023: NOK 414 million) and mainly consists of investments in debt instruments with investment grade rating. Cash and cash equivalents have a carrying value of NOK 1 198 million (2023: NOK 553 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.2024Carrying Non- Fair value Fair value Financial instruments amount at Amortized financial over P&L over P&L per category31.12.2024costitem- level 1 input- level 3 inputNon-current 59 20 13 26 financial assetsTrade receivable 1 730 1 730 Contract assets 537 537 Other current assets 235 51 183 2 Other current 414 414 financial assetsCash and cash equivalents 1 198 1 198 Total assets 4 172 3 536 196 441 - Other non-current liabilities 37 37 - - excluding lease liabilitiesTrade payables 220 220 Contract liabilities 229 229 Contingent considerations 43 43 Other current liabilities 2 283 25 2 259 - Total liabilities 2 812 510 2 259 - 43 2023Carrying Non- Fair value Fair value Financial instruments amount at Amortized financial over P&L over P&L per category31.12.2023costitem- level 1 input- level 3 inputNon-current 61 42 19 financial assetsTrade receivable 1 769 1 769 Contract assets 536 536 Other current assets 245 44 201 Other current financial assets 394 394 Cash and cash equivalents 553 553 Total assets 3 558 2 943 201 414 - Other non-current liabilities 39 32 7 - excluding lease liabilitiesTrade payables 266 266 Contract liabilities 196 196 Other current liabilities 1 982 1 982 - Total liabilities 2 483 494 1 989 - -",
"dimensions": {
"concept": "ifrs-full:DisclosureOfTradeAndOtherReceivablesExplanatory",
"language": "en",
"entity": "scheme:635400VFBLRSFRXLGQ03",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
}
},
"f1__s8__6__39": {
"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.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. 2024 2024 2023 2023Age analysis of trade receivables Gross Expected Gross Expected credit losscredit lossNot due 1 449 3 1 472 3 <30 days 188 1 211 3 30-60 days 38 3 34 4 60-90 days 11 1 27 3 >90 days 92 42 90 51 Total 1 779 49 1 834 64 Net trade receivables 1 730 1 769 Change in expected credit loss 2024 2023Opening balance 64 64Increase through acquisitions 0 0Provision in the year 28 41Write-off of uncollectible receivables -11 -4Reversal of unutilized amounts -33 -37Closing balance 49 64Loss on receivables in income statement -3 5Other current and non-current financial receivables have a carrying value of NOK 441 million (2023: NOK 414 million) and mainly consists of investments in debt instruments with investment grade rating. Cash and cash equivalents have a carrying value of NOK 1 198 million (2023: NOK 553 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": "2024-01-01T00:00:00/2025-01-01T00:00:00"
}
},
"f1__s8__6__42": {
"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:2024 <1 year 1-5 years >5 yearsOther non-current debt - 44 35 Trade payables 219 1 - Other current financial liabilities 239 14 - Total 458 59 35 2023 <1 year 1-5 years >5 yearsOther non-current debt - 6 25 Trade payables 266 - - Other current financial liabilities 317 1 - Total 584 7 25For maturity of lease liabilities see note 12.",
"dimensions": {
"concept": "ifrs-full:DisclosureOfLiquidityRiskExplanatory",
"language": "en",
"entity": "scheme:635400VFBLRSFRXLGQ03",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
}
},
"f1__s8__6__43-1": {
"value": "2024 <1 year 1-5 years >5 yearsOther non-current debt - 44 35 Trade payables 219 1 - Other current financial liabilities 239 14 - Total 458 59 35 2023 <1 year 1-5 years >5 yearsOther non-current debt - 6 25 Trade payables 266 - - Other current financial liabilities 317 1 - Total 584 7 252024Carrying Non- Fair value Fair value Financial instruments amount at Amortized financial over P&L over P&L per category31.12.2024costitem- level 1 input- level 3 inputNon-current 59 20 13 26 financial assetsTrade receivable 1 730 1 730 Contract assets 537 537 Other current assets 235 51 183 2 Other current 414 414 financial assetsCash and cash equivalents 1 198 1 198 Total assets 4 172 3 536 196 441 - Other non-current liabilities 37 37 - - excluding lease liabilitiesTrade payables 220 220 Contract liabilities 229 229 Contingent considerations 43 43 Other current liabilities 2 283 25 2 259 - Total liabilities 2 812 510 2 259 - 43 2023Carrying Non- Fair value Fair value Financial instruments amount at Amortized financial over P&L over P&L per category31.12.2023costitem- level 1 input- level 3 inputNon-current 61 42 19 financial assetsTrade receivable 1 769 1 769 Contract assets 536 536 Other current assets 245 44 201 Other current financial assets 394 394 Cash and cash equivalents 553 553 Total assets 3 558 2 943 201 414 - Other non-current liabilities 39 32 7 - excluding lease liabilitiesTrade payables 266 266 Contract liabilities 196 196 Other current liabilities 1 982 1 982 - Total liabilities 2 483 494 1 989 - -",
"dimensions": {
"concept": "ifrs-full:DisclosureOfTradeAndOtherPayablesExplanatory",
"language": "en",
"entity": "scheme:635400VFBLRSFRXLGQ03",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
}
},
"f1__s8__6__45-1": {
"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 2024 between currencies ISK/NOK, USD/NOK and SEK/NOK (the same as in 2023). A change in 10% of the exchange rate for these currencies would affect the Group\u2019s operating profit by approximately NOK 2 million (2023: NOK 2 million). Effect on other comprehensive income is expected to be 0.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": "2024-01-01T00:00:00/2025-01-01T00:00:00"
}
},
"f1__s8__6__44": {
"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 2024 between currencies ISK/NOK, USD/NOK and SEK/NOK (the same as in 2023). A change in 10% of the exchange rate for these currencies would affect the Group\u2019s operating profit by approximately NOK 2 million (2023: NOK 2 million). Effect on other comprehensive income is expected to be 0.",
"dimensions": {
"concept": "ifrs-full:DisclosureOfEffectOfChangesInForeignExchangeRatesExplanatory",
"language": "en",
"entity": "scheme:635400VFBLRSFRXLGQ03",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
}
},
"f1__s8__6__54": {
"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.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.",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForFinancialLiabilitiesExplanatory",
"language": "en",
"entity": "scheme:635400VFBLRSFRXLGQ03",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
}
},
"f1__s8__6__53": {
"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.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.",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForTradeAndOtherReceivablesExplanatory",
"language": "en",
"entity": "scheme:635400VFBLRSFRXLGQ03",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
}
},
"f1__s8__6__52": {
"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.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.",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForImpairmentOfFinancialAssetsExplanatory",
"language": "en",
"entity": "scheme:635400VFBLRSFRXLGQ03",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
}
},
"f1__s8__6__50": {
"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.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.",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForFinancialInstrumentsAtFairValueThroughProfitOrLossExplanatory",
"language": "en",
"entity": "scheme:635400VFBLRSFRXLGQ03",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
}
},
"f1__s8__6__49": {
"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.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.",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForFinancialAssetsExplanatory",
"language": "en",
"entity": "scheme:635400VFBLRSFRXLGQ03",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
}
},
"f1__s8__6__48": {
"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.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.",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForFinancialInstrumentsExplanatory",
"language": "en",
"entity": "scheme:635400VFBLRSFRXLGQ03",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
}
},
"f1__s8__6__47-1": {
"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.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.Fair value hierarchyThe Group measures fair value using the following hierarchy:Level 1 Quoted (unadjusted) market prices in active markets for identical assets or liabilitiesLevel 2 Valuation techniques for which the lowest level input that is significant to the fair value measurement is directly or indirectly observableLevel 3 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": "2024-01-01T00:00:00/2025-01-01T00:00:00"
}
},
"f1__s8__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.2024Carrying Non- Fair value Fair value Financial instruments amount at Amortized financial over P&L over P&L per category31.12.2024costitem- level 1 input- level 3 inputNon-current 59 20 13 26 financial assetsTrade receivable 1 730 1 730 Contract assets 537 537 Other current assets 235 51 183 2 Other current 414 414 financial assetsCash and cash equivalents 1 198 1 198 Total assets 4 172 3 536 196 441 - Other non-current liabilities 37 37 - - excluding lease liabilitiesTrade payables 220 220 Contract liabilities 229 229 Contingent considerations 43 43 Other current liabilities 2 283 25 2 259 - Total liabilities 2 812 510 2 259 - 43 2023Carrying Non- Fair value Fair value Financial instruments amount at Amortized financial over P&L over P&L per category31.12.2023costitem- level 1 input- level 3 inputNon-current 61 42 19 financial assetsTrade receivable 1 769 1 769 Contract assets 536 536 Other current assets 245 44 201 Other current financial assets 394 394 Cash and cash equivalents 553 553 Total assets 3 558 2 943 201 414 - Other non-current liabilities 39 32 7 - excluding lease liabilitiesTrade payables 266 266 Contract liabilities 196 196 Other current liabilities 1 982 1 982 - Total liabilities 2 483 494 1 989 - -Other current financial assets consist of investments in bond funds where investments have a remaining term of up to 3 years and 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. Fair value for contingent consideration is determined based on terms in the purchase agreement. The most likely outcome is assessed and discounted to reflect the present value of future cash flows. Please see note 5 for further information.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 Quoted (unadjusted) market prices in active markets for identical assets or liabilitiesLevel 2 Valuation techniques for which the lowest level input that is significant to the fair value measurement is directly or indirectly observableLevel 3 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": "2024-01-01T00:00:00/2025-01-01T00:00:00"
}
},
"f1__s8__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.2024Carrying Non- Fair value Fair value Financial instruments amount at Amortized financial over P&L over P&L per category31.12.2024costitem- level 1 input- level 3 inputNon-current 59 20 13 26 financial assetsTrade receivable 1 730 1 730 Contract assets 537 537 Other current assets 235 51 183 2 Other current 414 414 financial assetsCash and cash equivalents 1 198 1 198 Total assets 4 172 3 536 196 441 - Other non-current liabilities 37 37 - - excluding lease liabilitiesTrade payables 220 220 Contract liabilities 229 229 Contingent considerations 43 43 Other current liabilities 2 283 25 2 259 - Total liabilities 2 812 510 2 259 - 43 2023Carrying Non- Fair value Fair value Financial instruments amount at Amortized financial over P&L over P&L per category31.12.2023costitem- level 1 input- level 3 inputNon-current 61 42 19 financial assetsTrade receivable 1 769 1 769 Contract assets 536 536 Other current assets 245 44 201 Other current financial assets 394 394 Cash and cash equivalents 553 553 Total assets 3 558 2 943 201 414 - Other non-current liabilities 39 32 7 - excluding lease liabilitiesTrade payables 266 266 Contract liabilities 196 196 Other current liabilities 1 982 1 982 - Total liabilities 2 483 494 1 989 - -Other current financial assets consist of investments in bond funds where investments have a remaining term of up to 3 years and 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. Fair value for contingent consideration is determined based on terms in the purchase agreement. The most likely outcome is assessed and discounted to reflect the present value of future cash flows. Please see note 5 for further information.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 Quoted (unadjusted) market prices in active markets for identical assets or liabilitiesLevel 2 Valuation techniques for which the lowest level input that is significant to the fair value measurement is directly or indirectly observableLevel 3 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": "2024-01-01T00:00:00/2025-01-01T00:00:00"
}
},
"f1__s8__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.2024Carrying Non- Fair value Fair value Financial instruments amount at Amortized financial over P&L over P&L per category31.12.2024costitem- level 1 input- level 3 inputNon-current 59 20 13 26 financial assetsTrade receivable 1 730 1 730 Contract assets 537 537 Other current assets 235 51 183 2 Other current 414 414 financial assetsCash and cash equivalents 1 198 1 198 Total assets 4 172 3 536 196 441 - Other non-current liabilities 37 37 - - excluding lease liabilitiesTrade payables 220 220 Contract liabilities 229 229 Contingent considerations 43 43 Other current liabilities 2 283 25 2 259 - Total liabilities 2 812 510 2 259 - 43 2023Carrying Non- Fair value Fair value Financial instruments amount at Amortized financial over P&L over P&L per category31.12.2023costitem- level 1 input- level 3 inputNon-current 61 42 19 financial assetsTrade receivable 1 769 1 769 Contract assets 536 536 Other current assets 245 44 201 Other current financial assets 394 394 Cash and cash equivalents 553 553 Total assets 3 558 2 943 201 414 - Other non-current liabilities 39 32 7 - excluding lease liabilitiesTrade payables 266 266 Contract liabilities 196 196 Other current liabilities 1 982 1 982 - Total liabilities 2 483 494 1 989 - -Other current financial assets consist of investments in bond funds where investments have a remaining term of up to 3 years and 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. Fair value for contingent consideration is determined based on terms in the purchase agreement. The most likely outcome is assessed and discounted to reflect the present value of future cash flows. Please see note 5 for further information.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 Quoted (unadjusted) market prices in active markets for identical assets or liabilitiesLevel 2 Valuation techniques for which the lowest level input that is significant to the fair value measurement is directly or indirectly observableLevel 3 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": "2024-01-01T00:00:00/2025-01-01T00:00:00"
}
},
"f1__s8__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 financial targets. The Group has the following financial targets: - Adjusted EBITA margin of 10% of operating revenue and other income after external project costs over a business cycle - Net interest-bearing debt/adjusted EBITDA ratio not to exceed 2.0x (12 months rolling EBITDA)The adjusted EBITA margin for 2024 is 9.6% (2023: 9.5%). The net interest-bearing debt/adjusted EBITDA ratio at 31 December 2024 is -0.01 (2023: 0.51). 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 1.70 per share is proposed for 2024, in total NOK 512 million (2023: NOK 343 million), representing a dividend of 103% (2023: 66.5%) of profit after tax. The Group\u2019s equity as a percentage of total assets is 35.6% (2023: 32.5%).",
"dimensions": {
"concept": "ifrs-full:DisclosureOfObjectivesPoliciesAndProcessesForManagingCapitalExplanatory",
"language": "en",
"entity": "scheme:635400VFBLRSFRXLGQ03",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
}
},
"f1__s8__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 2024 nor 2023. 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 2024In January 2024 Norconsult acquired 51% of the shares in SQM AS for an estimated consideration of NOK 31 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 FTEs 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. In February 2024 Norconsult acquired all of the shares in Concreto AS for an estimated consideration of NOK 21 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 FTEs and had revenues of NOK 20 million in 2023. The company is consolidated from 29 February 2024 and included in the Norway Head Office business segment. In June 2024 Norconsult agreed to purchase all shares in Wermlands Infrakonsult AB for an estimated consideration of NOK 20 million. Wermlands Infrakonsult AB is an infrastructure consulting company, specialising in water and sewage, land, traffic, roads and streets with both public and private customers. The company, which is based in Karlstad, Sweden, has 11 employees and recorded revenues of NOK 19 million in their fiscal year ending April 2024. The company is consolidated from 5 August 2024 and included in the Sweden business segment. The purchase allocations of assets and liabilities acquired shows the following: Other acquisitions 2024 SQM ASduring the yearCash settlement 31 40 NPV of option on NCI 17 0 Cash in target 4 9 Net settlement 44 31 Right-of-use-assets 0 3 Intangible assets: Customer contracts and relations 17 1 Intangible assets: Trademark 3 0 Current assets 3 7 Deferred tax -5 -1 Lease liability 0 -3 Other current liabilities -5 -6 Net identifiable assets and liabilities 15 2 Goodwill 30 30 Consolidated operating revenue and other income of the acquired businesses amounted to NOK 40 million 2024, with a profit after tax of NOK 4 million. Operating revenue and other income would have increased with approximately NOK 11 million and net profit increased with NOK 2 million had the acquired companies been included in the Group from the beginning of the year. 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.Norconsult has call options, and the non-controlling interest (NCI) shareholders have put options, on the remaining 49 percent of the shares in SQM. These options are exercisable between 2028 and 2030 and the valuation of the shares is based on a multiple of SQM\u2019s average EBIT over a 4-year period. Upon consolidation of SQM, and in accordance with IFRS 10, the cost of acquiring the remaining 49 percent have been estimated and recognized as other non-current debt and accruals at fair value with NOK 41 million. At the same time the related non-controlling interests have been derecognised. The difference between derecognizing the non-controlling interest and the fair value of the liability is accounted for as an equity transaction.The gross and carrying value of goodwill was NOK 1 003 million at the beginning of the year. In 2024 the gross and carrying value of goodwill has increased with NOK 60 million due to acquisitions and increase of NOK 16 million following from foreign currency translation.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.Ingeni\u00f8r- 2023 LB Consult 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-assets 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 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": "2024-01-01T00:00:00/2025-01-01T00:00:00"
}
},
"f1__s8__6__66-1": {
"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 2024 nor 2023. 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 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 3-10 yearsCustomer relations 5-10 yearsCustomer contracts 1 - 2 years",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForIntangibleAssetsAndGoodwillExplanatory",
"language": "en",
"entity": "scheme:635400VFBLRSFRXLGQ03",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
}
},
"f1__s8__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 2024 nor 2023. 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": "2024-01-01T00:00:00/2025-01-01T00:00:00"
}
},
"f1__s8__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 2024 nor 2023. 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": "2024-01-01T00:00:00/2025-01-01T00:00:00"
}
},
"f1__s8__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 2024 nor 2023. 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": "2024-01-01T00:00:00/2025-01-01T00:00:00"
}
},
"f1__s8__6__68": {
"value": "6. RevenueAccounting 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 revenues2024 Digital and Revenues by Norway Norway Renewable Techno-business areaHead OfficeRegions Sweden DenmarkEnergygarden* Other GroupEnergy & Industry 604 626 540 52 813 10 -24 2 622Buildings & Architecture** 945 1 300 404 738 17 0 -12 3 391Infrastructure & Public works** 1 447 894 831 71 80 0 -36 3 287Other businesses 48 8 38 3 7 1 182 -167 1 119 Sum 3 044 2 826 1 814 864 918 1 192 -239 10 419** The methology for classification has been adjusted in FY 2024, resuling in a reclassification of operating revnue between Buildings & Arcitecture and Infrastructure & Public works of approximately 3%p. 2024 Digital and Techno-Revenues by Norway Norway Renewable garden*geographical marketHead OfficeRegions Sweden DenmarkEnergyOther Group Norway 2 884 2 825 107 5 715 788 -203 7 121 Sweden 10 0 1 687 0 13 387 -15 2 082 Denmark 2 0 1 851 18 0 -14 857 Europe 146 1 13 8 88 15 -6 265 Other countries 3 0 5 0 85 1 0 94 Sum 3 044 2 826 1 814 864 918 1 192 -239 10 4192023 Digital and Revenues by Norway Norway Renewable Techno-business areaHead OfficeRegions Sweden DenmarkEnergygarden* Other GroupEnergy & Industry 407 563 499 81 728 2 -67 2 213Buildings & Architecture 1 115 1 276 419 698 16 0 -31 3 493Infrastructure & Public works 1 263 845 564 0 66 0 -33 2 705Other businesses 38 42 74 0 10 1 151 -151 1 163 Sum 2 823 2 726 1 555 779 820 1 154 -282 9 5742023Digital and Revenues by Norway Norway Renewable Techno-geographical marketHead OfficeRegions Sweden DenmarkEnergygarden* Other Group Norway 2 653 2 723 112 5 606 808 -249 6 659 Sweden 11 1 1 439 0 25 287 -28 1 735 Denmark 1 0 0 763 5 0 -4 766 Europe 154 1 2 10 71 56 -5 290 Other countries 3 0 1 0 113 3 4 124 Sum 2 823 2 726 1 555 779 820 1 154 -282 9 574*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 balances2024 2023Trade receivables 1 730 1 769Contract assets 537 536Contract liabilities 229 196Contract 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 decrease in trade receivables in 2024 is mainly due to timing of customer payments at year end. Remaining revenues on contract in progress at 31 December 2024 is estimated to NOK 6 800 million (2023: NOK 6 700 million). The timing of revenue recognition is uncertain but the Group estimates that approximately NOK 4 800 million (2023: NOK 4 600 million) of these revenues will be recognised in the following year and NOK 2 000 million (2023: NOK 2 100 million) thereafter.",
"dimensions": {
"concept": "ifrs-full:DisclosureOfRevenueFromContractsWithCustomersExplanatory",
"language": "en",
"entity": "scheme:635400VFBLRSFRXLGQ03",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
}
},
"f1__s8__6__67": {
"value": "6. RevenueAccounting 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 revenues2024 Digital and Revenues by Norway Norway Renewable Techno-business areaHead OfficeRegions Sweden DenmarkEnergygarden* Other GroupEnergy & Industry 604 626 540 52 813 10 -24 2 622Buildings & Architecture** 945 1 300 404 738 17 0 -12 3 391Infrastructure & Public works** 1 447 894 831 71 80 0 -36 3 287Other businesses 48 8 38 3 7 1 182 -167 1 119 Sum 3 044 2 826 1 814 864 918 1 192 -239 10 419** The methology for classification has been adjusted in FY 2024, resuling in a reclassification of operating revnue between Buildings & Arcitecture and Infrastructure & Public works of approximately 3%p. 2024 Digital and Techno-Revenues by Norway Norway Renewable garden*geographical marketHead OfficeRegions Sweden DenmarkEnergyOther Group Norway 2 884 2 825 107 5 715 788 -203 7 121 Sweden 10 0 1 687 0 13 387 -15 2 082 Denmark 2 0 1 851 18 0 -14 857 Europe 146 1 13 8 88 15 -6 265 Other countries 3 0 5 0 85 1 0 94 Sum 3 044 2 826 1 814 864 918 1 192 -239 10 4192023 Digital and Revenues by Norway Norway Renewable Techno-business areaHead OfficeRegions Sweden DenmarkEnergygarden* Other GroupEnergy & Industry 407 563 499 81 728 2 -67 2 213Buildings & Architecture 1 115 1 276 419 698 16 0 -31 3 493Infrastructure & Public works 1 263 845 564 0 66 0 -33 2 705Other businesses 38 42 74 0 10 1 151 -151 1 163 Sum 2 823 2 726 1 555 779 820 1 154 -282 9 5742023Digital and Revenues by Norway Norway Renewable Techno-geographical marketHead OfficeRegions Sweden DenmarkEnergygarden* Other Group Norway 2 653 2 723 112 5 606 808 -249 6 659 Sweden 11 1 1 439 0 25 287 -28 1 735 Denmark 1 0 0 763 5 0 -4 766 Europe 154 1 2 10 71 56 -5 290 Other countries 3 0 1 0 113 3 4 124 Sum 2 823 2 726 1 555 779 820 1 154 -282 9 574*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 balances2024 2023Trade receivables 1 730 1 769Contract assets 537 536Contract liabilities 229 196Contract 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 decrease in trade receivables in 2024 is mainly due to timing of customer payments at year end. Remaining revenues on contract in progress at 31 December 2024 is estimated to NOK 6 800 million (2023: NOK 6 700 million). The timing of revenue recognition is uncertain but the Group estimates that approximately NOK 4 800 million (2023: NOK 4 600 million) of these revenues will be recognised in the following year and NOK 2 000 million (2023: NOK 2 100 million) thereafter.",
"dimensions": {
"concept": "ifrs-full:DisclosureOfRevenueExplanatory",
"language": "en",
"entity": "scheme:635400VFBLRSFRXLGQ03",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
}
},
"f1__s8__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": "2024-01-01T00:00:00/2025-01-01T00:00:00"
}
},
"f1__s8__6__72": {
"value": "Contract balances2024 2023Trade receivables 1 730 1 769Contract assets 537 536Contract liabilities 229 196Contract 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 decrease in trade receivables in 2024 is mainly due to timing of customer payments at year end. Remaining revenues on contract in progress at 31 December 2024 is estimated to NOK 6 800 million (2023: NOK 6 700 million). The timing of revenue recognition is uncertain but the Group estimates that approximately NOK 4 800 million (2023: NOK 4 600 million) of these revenues will be recognised in the following year and NOK 2 000 million (2023: NOK 2 100 million) thereafter.",
"dimensions": {
"concept": "ifrs-full:DisclosureOfDeferredIncomeExplanatory",
"language": "en",
"entity": "scheme:635400VFBLRSFRXLGQ03",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
}
},
"f1__s8__6__73": {
"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 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 - Sweden \u2013 operations in Sweden except Swedish Digital and Technogarden operations - Denmark \u2013 operations in Denmark - Renewable Energy \u2013 services for the renewable sector with locations in Norway, Poland, Iceland, Finland in addition to smaller project offices in Africa and Asia - Digital and Technogarden* \u2013 Norconsult 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.2024 Other - Digital and corporate Norway Norway Renewable Techno- cost and Head OfficeRegions Sweden DenmarkEnergygarden*eliminations TotalExternal revenue 3 031 2 819 1 716 854 886 1 105 7 10 419Internal revenue 14 7 98 9 32 86 -246 0Total revenue and other 3 044 2 826 1 814 864 918 1 192 -239 10 419incomeExternal project costs 268 155 265 144 127 453 -179 1 233Operating revenue and 2 777 2 672 1 548 720 791 738 -60 9 186other income after external project costsPersonnel expenses 2 050 2 056 1 212 559 534 609 267 7 287Other operating expenses 283 356 193 81 121 93 -287 840Operating profit before 444 260 143 80 136 37 -40 1 060depreciation and amortization (EBITDA)Depreciation and impairment 187 115 90 31 20 5 17 466tangible and ROU assetsOperating profit before 257 144 54 49 116 31 -57 594amortisation (EBITA)Amortisation and impairment 6 1 2 3 1 9 2 24intangible assetsOperating profit (EBIT) 251 143 52 46 116 22 -59 5702023 Other - Digital and corporate Norway Norway Renewable Techno- cost and Head OfficeRegions Sweden DenmarkEnergygarden*eliminations TotalExternal revenue 2 800 2 715 1 453 765 789 1 051 1 9 574Internal revenue 23 11 103 15 31 102 -283 0Total revenue and 2 823 2 726 1 556 779 820 1 153 -282 9 574other incomeExternal project costs 279 201 216 117 120 377 -230 1 080Operating revenue and 2 544 2 524 1 340 662 700 776 -52 8 494other income after external project costsPersonnel expenses 1 834 1 846 992 513 466 629 239 6 520Other operating expenses 240 323 178 61 121 94 -174 843Operating profit 470 355 170 88 112 53 -117 1 131before depreciation and amortization (EBITDA)Depreciation and impairment 182 103 79 30 20 6 19 438tangible and ROU assetsOperating profit before 287 253 92 58 93 47 -136 693amortisation (EBITA)Amortisation and impairment 3 2 3 3 1 7 2 21intangible assetsOperating profit (EBIT) 284 251 89 55 92 39 -137 673*Operating segments that due to quantitative thresholds are not separately reportable under IFRS and therefore aggregated.External project costs:2024 2023Sub consultants 911 843 Travel costs 81 97 Other external procect costs 241 140 Total 1 233 1 080 The Group has no customers that represent more than 10% of consolidated revenue.",
"dimensions": {
"concept": "ifrs-full:DisclosureOfEntitysReportableSegmentsExplanatory",
"language": "en",
"entity": "scheme:635400VFBLRSFRXLGQ03",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
}
},
"f1__s8__6__74": {
"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": "2024-01-01T00:00:00/2025-01-01T00:00:00"
}
},
"f1__s8__6__76-1": {
"value": "8. Salaries and personnel costsEmployee benefit expense:2024 2023Salaries 5 620 5 041 Social security taxes 985 819 Pension expenses (note 9) 478 412 Other personnel costs 204 248 Total 7 287 6 520 Full time equivalent employees 6 315 6 124Compensation to executive management and Board of Directors (NOK thousand):2024 2023Base salary 27 474 28 468 Salary paid 28 235 26 710 Other benefits 2 526 3 780 Variable compensation 7 803 9 203 Pensions expenses 4 028 3 409 Share based payment 1 313 82 Total compensation 43 907 43 184 Number of shares owned 5 441 327 6 061 952 Non-vested shares 39 798 38 625 Loans 13 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 Norconsult Remuneration Report. The report for the financial year 2024 will be published on the Group\u2019s website subsequent to the annual general meeting. Company shares held by the Board of Directors and Executive Management are presented in note 20.9. PensionsAccounting policyIn accordance with IFRS, defined contribution pension plans are accounted for by recognizing contributions as an expense when they are due. The Group\u2019s pension plans in Norway, Sweden, and Denmark follow this approach.The Norwegian defined contribution pension plans cover 4 450 employees (2023: 4 200 employees). Contributions are 5.5% of salary up to approximately NOK 880 000 and 23.6% between NOK 880 000 to NOK 1 488 000.The Swedish group companies have two pension plans in total covering 1 400 employees (2023: 1 400 employees). The ITP1 plan is a defined contribution plan and contributions are 4.5 % of salary up to approximately NOK 625 000 and 30% of salary from NOK 625 000 up to approximately NOK 2.5 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 (\u201cAlecta\u201d), 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 162% as of 31 December 2024 (2023: 157%). Alecta\u2019s computation of pension obligations is not consistent with IAS 19. Alecta has 35 000 corporate customers and total assets under management amounts to NOK 1.370 billion in 2024. Further, the Swedish group companies also have a flexible pension plan with an additional provision of 1.1 % of salary that employees can waive in favour of a higher monthly salary. The Danish companies have defined contribution pension plans covering 491 employees (2023: 490 employees). Contributions are between 8-9% 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": "2024-01-01T00:00:00/2025-01-01T00:00:00"
}
},
"f1__s8__6__75": {
"value": "8. Salaries and personnel costsEmployee benefit expense:2024 2023Salaries 5 620 5 041 Social security taxes 985 819 Pension expenses (note 9) 478 412 Other personnel costs 204 248 Total 7 287 6 520 Full time equivalent employees 6 315 6 124",
"dimensions": {
"concept": "ifrs-full:DisclosureOfInformationAboutEmployeesExplanatory",
"language": "en",
"entity": "scheme:635400VFBLRSFRXLGQ03",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
}
},
"f1__s8__6__77-1": {
"value": "Compensation to executive management and Board of Directors (NOK thousand):2024 2023Base salary 27 474 28 468 Salary paid 28 235 26 710 Other benefits 2 526 3 780 Variable compensation 7 803 9 203 Pensions expenses 4 028 3 409 Share based payment 1 313 82 Total compensation 43 907 43 184 Number of shares owned 5 441 327 6 061 952 Non-vested shares 39 798 38 625 Loans 13 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 Norconsult Remuneration Report. The report for the financial year 2024 will be published on the Group\u2019s website subsequent to the annual general meeting. Company shares held by the Board of Directors and Executive Management are presented in note 20.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 2024: 2024 2023Shares held by Board of Directors and Executive ManagementShares Share Shares Share optionsoptionsNils Morten Huseby, Chairman of the Board 57 931 52 631 Mari Tj\u00f8m\u00f8e, Deputy Chairman of the Board 31 052 21 052 Karl Erik Kjelstad, Board member 30 000 Lars-Petter Nesv\u00e5g, Board member 671 308 462 667 809 2 575 Harald Trosvik, Board member 218 725 218 725 2 575 Annette Sandra Angelica Kuru, Board member 9 224 462 Helge Hesjedal Wiberg, Board member 43 175 40 138 2 575 Anne Jenny Bergseth, Board member 35 905 462 32 406 2 575 Egil Hogna, CEO 1 150 623 9 314 1 129 181 2 575 Dag Fladby, CFO 216 507 3 932 210 000 2 575 Hege Nj\u00e5 Bj\u00f8rkmann, EVP Communication and brand 146 755 1 878 140 350 2 575 Marisa Ruiz Retamar. EVP HR 68 262 1 410 B\u00e5rd Hernes, EVP Norway Head Office 1 337 628 3 616 1 327 631 2 575 Vegard Jacobsen, EVP Norway Regions 392 499 3 424 386 500 2 575 Sten-Ole Nilsen, EVP Renewable Energy 589 680 2 955 584 150 2 575 Kathrine Duun Moen, EVP Technogarden and Digital 112 312 3 477 102 631 2 575 Farah Al-Aieshy, EVP Sweden 172 371 3 602 162 500 2 575 Thomas Bolding Rasmussen, EVP Denmark 187 370 4 804 175 000 2 575",
"dimensions": {
"concept": "ifrs-full:DisclosureOfInformationAboutKeyManagementPersonnelExplanatory",
"language": "en",
"entity": "scheme:635400VFBLRSFRXLGQ03",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
}
},
"f1__s8__6__79": {
"value": "Share based payment Accounting policyThe Group has 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. The calculated cost is recognised in employee benefits expense, together with a corresponding increase in equity, over the period in which the services are rendered. 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:2024 2023Share based payment 224 35 Social security taxes 83 6 Total expense 307 41 2023 and 2024:The Company had a gift-share program applicable for 2023 only. A total of 2 575 shares were given to all employees meeting certain criteria at the time of the Initial Public Offering (\u201cIPO\u201d). These shares had a one-year vesting period from the IPO, contingent upon the employee remaining employed by the Company. On 8 November 2024, 12 993 450 shares were distributed to 5 046 qualifying employees. The expensed employee benefits for these shares in 2024 amounted to NOK 205 million in addition to NOK 80 million in social security taxes. These expenses were recorded as salary and personnel costs on a linear basis over 12 months from 10 November 2023, based on the share price at listing of NOK 19 and 2 500 shares per employee. Social security taxes were based on the share price as of 8 November, 2024. The total cost of the program over twelve months was NOK 240 million in payroll expenses and NOK 86 million in social security taxes.Starting in 2024, an annual share program for employees was introduced. Qualified employees are offered to buy shares at a 20% discount, capped at NOK 30 000 per year before the discount. Additionally, a matching share program allows qualified employees to buy shares worth up to NOK 30 000 at market price. Employees who remain employed by the Company and retain their shares will receive 40% more shares after 3 years and 60% more after 5 years, totalling one additional share for each share bought. The total annual cost of these programs, including social security taxes, is capped at NOK 50 million. The 20% discount program costs were expensed in Q1 and Q2. Costs for the matching share program will be allocated over the vesting period of three to five years plus 5 months.The Norconsult Board of Directors has established a share-based incentive program for the Group management team. Members are required to use 25% of their variable salary to purchase shares in Norconsult at a 20% discount, with the right to matching shares as in the program described above. Additionally, 25% of their total variable salary potential can be used to purchase shares with a 20% discount. Shares purchased in these programs 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 designated for the Group management team and tier 3 management is capped at NOK 10 million. Consequently, the total cost for these programs, including social security tax, is capped at NOK 60 million. See the Groups remuneration report for further information. The participation in the 2024-program was very high, resulting in a reduction in participation for all employees to 50 %. The Company expensed NOK 19 million in share-based payment and NOK 3 million in social security taxes related to the programs. During 2024, Norconsult sold 1 604 214 discounted shares to its employees based on a price of NOK 25.94 per share, a 20% discount of the volume-weighted average price traded on Oslo Stock Exchange in the period 3 June 2024 to 14 June 2024 and 1 369 246 matching shares based on a price of NOK 32.43 which was the volume weighted average price traded on Oslo Stock Exchange in the period.Participants of the share program for 2024 were offered the opportunity to pay for the shares with monthly installments over a 12-month period. Receivables towards employees was NOK 30 million on 31 December 2024.The cost of the equity-settled transactions is measured by reference to the fair value at the date on which they are granted. The expense is recognized, with a corresponding increase in equity, over the period in which the service conditions are fulfilled and it ends on the date on which the employee becomes fully entitled to the award. Social security taxes are recognised as cash-settled-share based payments measured at intrinsic value and remeasured at each reporting date.",
"dimensions": {
"concept": "ifrs-full:DisclosureOfSharebasedPaymentArrangementsExplanatory",
"language": "en",
"entity": "scheme:635400VFBLRSFRXLGQ03",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
}
},
"f1__s8__6__81": {
"value": "Accounting policyThe Group has 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. The calculated cost is recognised in employee benefits expense, together with a corresponding increase in equity, over the period in which the services are rendered. 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": "2024-01-01T00:00:00/2025-01-01T00:00:00"
}
},
"f1__s8__6__80-1": {
"value": "Accounting policyThe Group has 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. The calculated cost is recognised in employee benefits expense, together with a corresponding increase in equity, over the period in which the services are rendered. 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 policyIn accordance with IFRS, defined contribution pension plans are accounted for by recognizing contributions as an expense when they are due. The Group\u2019s pension plans in Norway, Sweden, and Denmark follow this approach.",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForEmployeeBenefitsExplanatory",
"language": "en",
"entity": "scheme:635400VFBLRSFRXLGQ03",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
}
},
"f1__s8__6__91-1": {
"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 3-10 yearsCustomer relations 5-10 yearsCustomer contracts 1 - 2 years2024 2024 2023 2023 Other Other intangible intangible Goodwillassets GoodwillassetsAcquisition cost as of 1.1. 1 003 175 943 148 Addition from business combination 60 22 41 5 Addition 33 23 Disposals -9 -5 Translation differences 16 2 19 5 Acquisition cost as of 31.12. 1 079 223 1 003 175 Accumulated amortisation and -97 -78 impairment as of 1.1Amortisations -19 -17 Impairments -5 -4 Disposal 9 5 Translation differences -1 -3 Accumulated amortisation and 0 -113 0 -97 impairment as of 31.12Carrying amount 1 079 109 1 003 78 By business area Norway Head Office 471 424 Norway Regions 130 130 Renewable Energy 101 101 Sweden 60 46 Denmark 275 261 Digital and Technogarden 42 42 Licenses and software acquired 8 4 Licenses and software 71 53 internally developedCustomer relations and contracts 31 21 capitalised on acquisitionTotal 1 079 109 1 003 78 Licenses and software capitalised during the year amounted to NOK 33 million (2023: NOK 23 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 23 million (2023: NOK 16 million). The remaining amortisation period for other intangible assets is approximately 5 years.No impairment of goodwill has been identified for 2024. Software developed for specific customers were written down with NOK 5 million (2023: NOK 4 million).Additions from business combinations are customer relations, customer contracts and trademarks, see note 5.Impairment test of goodwillWhen 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 2023 and 2024.Impairment test of goodwill is carried out annually during the fourth quarter. The distribution of goodwill at cash-generating-units (CGU) is listed in the table above. Key assumptions to the impairment test model are based on management best estimates. Estimated future cash flows per cash-generating-unit (CGU) based on value in use 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, terminal value, based on an annual growth in the cash flow of 1.3%, is estimated. The growth rate is a conservative estimation of the long-term growth for the CGUs. Discount rates are estimated based on risk free interest rate (10-year government bond), company specific risks and beta values per CGU with material goodwill are as follows:Discount rate before tax in % for goodwill: 2024 2023Norway Head Office 10.5 % 11.1 %Norway Regions 10.5 % 11.1 %Renewable Energy 10.5 % 11.1 %Sweden 8.9 % 10.0 %Denmark 9.0 % 10.2 %Digitalisation and Technogarden 10.5 % 11.1 %The change in discount rates from 2023 to 2024 are the net effect of a decrease 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 years2024 2023Machinery, Machinery, Land, offices cars, office Land, offices cars, office and buildingsequipment etc Totaland buildingsequipment etc TotalAcquisition cost 6 723 729 5 646 651 Accumulated -4 -545 -550 -4 -489 -492 depreciationCarrying amount 2 177 179 1 157 159 Opening 1 157 158 3 156 159 carrying amountAddition from 0 1 1 0 2 2 business combinationAddition 1 81 81 0 59 59 Disposals 0 -2 -2 -2 -2 -4 Depreciation 0 -62 -62 -1 -62 -62 Translation differences 0 2 2 0 4 4 Closing carrying 2 177 178 1 157 158 amountDepreciation method Linear Linear Linear LinearDepreciation 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: \u2022 Office buildings: 1 to 17 years\u2022 IT equipment: 1 to 6 years\u2022 Motor 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 assets 2024 2023Opening carrying amount 1 546 1 528 New leases 274 142 Addition through acquisitions - 22 Changes in existing leases 128 212 Depreciation for the year -403 -376 Translation differences 5 18 Closing carrying amount 1 550 1 546 Office property 1 445 1 448 Cars, IT equipment and office machines 105 98 Total 1 550 1 546 Amounts recognised in profit and loss 2024 2023Depreciation office property 334 315 Depreciation cars, office- and IT-equipment 69 61 Interest expense on lease liabilities 41 34 Cost of short-term leases 11 9 Cost of low-value leases 5 6 Total amount recognised in the statement of income 460 425 Lease liabilities 2024 2023Non-current 1 229 1 226 Current 367 354 Total 1 597 1 580 Maturity of undiscounted lease commitments 2024 2023Within one year 406 385 Between 1 and 5 years 1 097 1 049 Over 5 years 222 237 Total undiscounted lease liabilities 1 725 1 671 Movement in the lease liability: 2024 2023Carrying amount at 1 January 1 580 1 552 Amortisation of debt, cash flow -430 -399 New leases and revaluation 402 354 Increase through acquisition - 22 Interest expense 41 34 Translation differences 4 18 Carrying amount at 31 December 1 597 1 580 Carrying amount at 31 December 1 597 1 580 The Group has four material leases that are committed and that commence in 2025 through 2026. The average length of the leases is 9 years, and the average annual rent is NOK 8 million.",
"dimensions": {
"concept": "ifrs-full:DisclosureOfDepreciationAndAmortisationExpenseExplanatory",
"language": "en",
"entity": "scheme:635400VFBLRSFRXLGQ03",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
}
},
"f1__s8__6__90": {
"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 3-10 yearsCustomer relations 5-10 yearsCustomer contracts 1 - 2 years2024 2024 2023 2023 Other Other intangible intangible Goodwillassets GoodwillassetsAcquisition cost as of 1.1. 1 003 175 943 148 Addition from business combination 60 22 41 5 Addition 33 23 Disposals -9 -5 Translation differences 16 2 19 5 Acquisition cost as of 31.12. 1 079 223 1 003 175 Accumulated amortisation and -97 -78 impairment as of 1.1Amortisations -19 -17 Impairments -5 -4 Disposal 9 5 Translation differences -1 -3 Accumulated amortisation and 0 -113 0 -97 impairment as of 31.12Carrying amount 1 079 109 1 003 78 By business area Norway Head Office 471 424 Norway Regions 130 130 Renewable Energy 101 101 Sweden 60 46 Denmark 275 261 Digital and Technogarden 42 42 Licenses and software acquired 8 4 Licenses and software 71 53 internally developedCustomer relations and contracts 31 21 capitalised on acquisitionTotal 1 079 109 1 003 78 Licenses and software capitalised during the year amounted to NOK 33 million (2023: NOK 23 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 23 million (2023: NOK 16 million). The remaining amortisation period for other intangible assets is approximately 5 years.No impairment of goodwill has been identified for 2024. Software developed for specific customers were written down with NOK 5 million (2023: NOK 4 million).Additions from business combinations are customer relations, customer contracts and trademarks, see note 5.Impairment test of goodwillWhen 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 2023 and 2024.Impairment test of goodwill is carried out annually during the fourth quarter. The distribution of goodwill at cash-generating-units (CGU) is listed in the table above. Key assumptions to the impairment test model are based on management best estimates. Estimated future cash flows per cash-generating-unit (CGU) based on value in use 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, terminal value, based on an annual growth in the cash flow of 1.3%, is estimated. The growth rate is a conservative estimation of the long-term growth for the CGUs. Discount rates are estimated based on risk free interest rate (10-year government bond), company specific risks and beta values per CGU with material goodwill are as follows:Discount rate before tax in % for goodwill: 2024 2023Norway Head Office 10.5 % 11.1 %Norway Regions 10.5 % 11.1 %Renewable Energy 10.5 % 11.1 %Sweden 8.9 % 10.0 %Denmark 9.0 % 10.2 %Digitalisation and Technogarden 10.5 % 11.1 %The change in discount rates from 2023 to 2024 are the net effect of a decrease 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": "2024-01-01T00:00:00/2025-01-01T00:00:00"
}
},
"f1__s8__6__86": {
"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 3-10 yearsCustomer relations 5-10 yearsCustomer contracts 1 - 2 years2024 2024 2023 2023 Other Other intangible intangible Goodwillassets GoodwillassetsAcquisition cost as of 1.1. 1 003 175 943 148 Addition from business combination 60 22 41 5 Addition 33 23 Disposals -9 -5 Translation differences 16 2 19 5 Acquisition cost as of 31.12. 1 079 223 1 003 175 Accumulated amortisation and -97 -78 impairment as of 1.1Amortisations -19 -17 Impairments -5 -4 Disposal 9 5 Translation differences -1 -3 Accumulated amortisation and 0 -113 0 -97 impairment as of 31.12Carrying amount 1 079 109 1 003 78 By business area Norway Head Office 471 424 Norway Regions 130 130 Renewable Energy 101 101 Sweden 60 46 Denmark 275 261 Digital and Technogarden 42 42 Licenses and software acquired 8 4 Licenses and software 71 53 internally developedCustomer relations and contracts 31 21 capitalised on acquisitionTotal 1 079 109 1 003 78 Licenses and software capitalised during the year amounted to NOK 33 million (2023: NOK 23 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 23 million (2023: NOK 16 million). The remaining amortisation period for other intangible assets is approximately 5 years.No impairment of goodwill has been identified for 2024. Software developed for specific customers were written down with NOK 5 million (2023: NOK 4 million).Additions from business combinations are customer relations, customer contracts and trademarks, see note 5.Impairment test of goodwillWhen 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 2023 and 2024.Impairment test of goodwill is carried out annually during the fourth quarter. The distribution of goodwill at cash-generating-units (CGU) is listed in the table above. Key assumptions to the impairment test model are based on management best estimates. Estimated future cash flows per cash-generating-unit (CGU) based on value in use 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, terminal value, based on an annual growth in the cash flow of 1.3%, is estimated. The growth rate is a conservative estimation of the long-term growth for the CGUs. Discount rates are estimated based on risk free interest rate (10-year government bond), company specific risks and beta values per CGU with material goodwill are as follows:Discount rate before tax in % for goodwill: 2024 2023Norway Head Office 10.5 % 11.1 %Norway Regions 10.5 % 11.1 %Renewable Energy 10.5 % 11.1 %Sweden 8.9 % 10.0 %Denmark 9.0 % 10.2 %Digitalisation and Technogarden 10.5 % 11.1 %The change in discount rates from 2023 to 2024 are the net effect of a decrease 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": "2024-01-01T00:00:00/2025-01-01T00:00:00"
}
},
"f1__s8__6__85": {
"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 3-10 yearsCustomer relations 5-10 yearsCustomer contracts 1 - 2 years2024 2024 2023 2023 Other Other intangible intangible Goodwillassets GoodwillassetsAcquisition cost as of 1.1. 1 003 175 943 148 Addition from business combination 60 22 41 5 Addition 33 23 Disposals -9 -5 Translation differences 16 2 19 5 Acquisition cost as of 31.12. 1 079 223 1 003 175 Accumulated amortisation and -97 -78 impairment as of 1.1Amortisations -19 -17 Impairments -5 -4 Disposal 9 5 Translation differences -1 -3 Accumulated amortisation and 0 -113 0 -97 impairment as of 31.12Carrying amount 1 079 109 1 003 78 By business area Norway Head Office 471 424 Norway Regions 130 130 Renewable Energy 101 101 Sweden 60 46 Denmark 275 261 Digital and Technogarden 42 42 Licenses and software acquired 8 4 Licenses and software 71 53 internally developedCustomer relations and contracts 31 21 capitalised on acquisitionTotal 1 079 109 1 003 78 Licenses and software capitalised during the year amounted to NOK 33 million (2023: NOK 23 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 23 million (2023: NOK 16 million). The remaining amortisation period for other intangible assets is approximately 5 years.No impairment of goodwill has been identified for 2024. Software developed for specific customers were written down with NOK 5 million (2023: NOK 4 million).Additions from business combinations are customer relations, customer contracts and trademarks, see note 5.Impairment test of goodwillWhen 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 2023 and 2024.Impairment test of goodwill is carried out annually during the fourth quarter. The distribution of goodwill at cash-generating-units (CGU) is listed in the table above. Key assumptions to the impairment test model are based on management best estimates. Estimated future cash flows per cash-generating-unit (CGU) based on value in use 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, terminal value, based on an annual growth in the cash flow of 1.3%, is estimated. The growth rate is a conservative estimation of the long-term growth for the CGUs. Discount rates are estimated based on risk free interest rate (10-year government bond), company specific risks and beta values per CGU with material goodwill are as follows:Discount rate before tax in % for goodwill: 2024 2023Norway Head Office 10.5 % 11.1 %Norway Regions 10.5 % 11.1 %Renewable Energy 10.5 % 11.1 %Sweden 8.9 % 10.0 %Denmark 9.0 % 10.2 %Digitalisation and Technogarden 10.5 % 11.1 %The change in discount rates from 2023 to 2024 are the net effect of a decrease 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": "2024-01-01T00:00:00/2025-01-01T00:00:00"
}
},
"f1__s8__6__84": {
"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 3-10 yearsCustomer relations 5-10 yearsCustomer contracts 1 - 2 years2024 2024 2023 2023 Other Other intangible intangible Goodwillassets GoodwillassetsAcquisition cost as of 1.1. 1 003 175 943 148 Addition from business combination 60 22 41 5 Addition 33 23 Disposals -9 -5 Translation differences 16 2 19 5 Acquisition cost as of 31.12. 1 079 223 1 003 175 Accumulated amortisation and -97 -78 impairment as of 1.1Amortisations -19 -17 Impairments -5 -4 Disposal 9 5 Translation differences -1 -3 Accumulated amortisation and 0 -113 0 -97 impairment as of 31.12Carrying amount 1 079 109 1 003 78 By business area Norway Head Office 471 424 Norway Regions 130 130 Renewable Energy 101 101 Sweden 60 46 Denmark 275 261 Digital and Technogarden 42 42 Licenses and software acquired 8 4 Licenses and software 71 53 internally developedCustomer relations and contracts 31 21 capitalised on acquisitionTotal 1 079 109 1 003 78 Licenses and software capitalised during the year amounted to NOK 33 million (2023: NOK 23 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 23 million (2023: NOK 16 million). The remaining amortisation period for other intangible assets is approximately 5 years.No impairment of goodwill has been identified for 2024. Software developed for specific customers were written down with NOK 5 million (2023: NOK 4 million).Additions from business combinations are customer relations, customer contracts and trademarks, see note 5.Impairment test of goodwillWhen 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 2023 and 2024.Impairment test of goodwill is carried out annually during the fourth quarter. The distribution of goodwill at cash-generating-units (CGU) is listed in the table above. Key assumptions to the impairment test model are based on management best estimates. Estimated future cash flows per cash-generating-unit (CGU) based on value in use 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, terminal value, based on an annual growth in the cash flow of 1.3%, is estimated. The growth rate is a conservative estimation of the long-term growth for the CGUs. Discount rates are estimated based on risk free interest rate (10-year government bond), company specific risks and beta values per CGU with material goodwill are as follows:Discount rate before tax in % for goodwill: 2024 2023Norway Head Office 10.5 % 11.1 %Norway Regions 10.5 % 11.1 %Renewable Energy 10.5 % 11.1 %Sweden 8.9 % 10.0 %Denmark 9.0 % 10.2 %Digitalisation and Technogarden 10.5 % 11.1 %The change in discount rates from 2023 to 2024 are the net effect of a decrease 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": "2024-01-01T00:00:00/2025-01-01T00:00:00"
}
},
"f1__s8__6__88": {
"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 3-10 yearsCustomer relations 5-10 yearsCustomer contracts 1 - 2 years",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForIntangibleAssetsOtherThanGoodwillExplanatory",
"language": "en",
"entity": "scheme:635400VFBLRSFRXLGQ03",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
}
},
"f1__s8__6__94": {
"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 years2024 2023Machinery, Machinery, Land, offices cars, office Land, offices cars, office and buildingsequipment etc Totaland buildingsequipment etc TotalAcquisition cost 6 723 729 5 646 651 Accumulated -4 -545 -550 -4 -489 -492 depreciationCarrying amount 2 177 179 1 157 159 Opening 1 157 158 3 156 159 carrying amountAddition from 0 1 1 0 2 2 business combinationAddition 1 81 81 0 59 59 Disposals 0 -2 -2 -2 -2 -4 Depreciation 0 -62 -62 -1 -62 -62 Translation differences 0 2 2 0 4 4 Closing carrying 2 177 178 1 157 158 amountDepreciation method Linear Linear Linear LinearDepreciation period 0 - 30 years 3-10 years 0 - 30 years 3-10 years",
"dimensions": {
"concept": "ifrs-full:DisclosureOfPropertyPlantAndEquipmentExplanatory",
"language": "en",
"entity": "scheme:635400VFBLRSFRXLGQ03",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
}
},
"f1__s8__6__97": {
"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:Fixtures, fittings, and office equipment 3-10 years",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForDepreciationExpenseExplanatory",
"language": "en",
"entity": "scheme:635400VFBLRSFRXLGQ03",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
}
},
"f1__s8__6__96": {
"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:Fixtures, fittings, and office equipment 3-10 years",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForRepairsAndMaintenanceExplanatory",
"language": "en",
"entity": "scheme:635400VFBLRSFRXLGQ03",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
}
},
"f1__s8__6__95": {
"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:Fixtures, fittings, and office equipment 3-10 years",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForPropertyPlantAndEquipmentExplanatory",
"language": "en",
"entity": "scheme:635400VFBLRSFRXLGQ03",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
}
},
"f1__s8__6__98": {
"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: \u2022 Office buildings: 1 to 17 years\u2022 IT equipment: 1 to 6 years\u2022 Motor 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 assets 2024 2023Opening carrying amount 1 546 1 528 New leases 274 142 Addition through acquisitions - 22 Changes in existing leases 128 212 Depreciation for the year -403 -376 Translation differences 5 18 Closing carrying amount 1 550 1 546 Office property 1 445 1 448 Cars, IT equipment and office machines 105 98 Total 1 550 1 546 Amounts recognised in profit and loss 2024 2023Depreciation office property 334 315 Depreciation cars, office- and IT-equipment 69 61 Interest expense on lease liabilities 41 34 Cost of short-term leases 11 9 Cost of low-value leases 5 6 Total amount recognised in the statement of income 460 425 Lease liabilities 2024 2023Non-current 1 229 1 226 Current 367 354 Total 1 597 1 580 Maturity of undiscounted lease commitments 2024 2023Within one year 406 385 Between 1 and 5 years 1 097 1 049 Over 5 years 222 237 Total undiscounted lease liabilities 1 725 1 671 Movement in the lease liability: 2024 2023Carrying amount at 1 January 1 580 1 552 Amortisation of debt, cash flow -430 -399 New leases and revaluation 402 354 Increase through acquisition - 22 Interest expense 41 34 Translation differences 4 18 Carrying amount at 31 December 1 597 1 580 Carrying amount at 31 December 1 597 1 580 The Group has four material leases that are committed and that commence in 2025 through 2026. The average length of the leases is 9 years, and the average annual rent is NOK 8 million.",
"dimensions": {
"concept": "ifrs-full:DisclosureOfLeasesExplanatory",
"language": "en",
"entity": "scheme:635400VFBLRSFRXLGQ03",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
}
},
"f1__s8__6__99": {
"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: \u2022 Office buildings: 1 to 17 years\u2022 IT equipment: 1 to 6 years\u2022 Motor 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": "2024-01-01T00:00:00/2025-01-01T00:00:00"
}
},
"f1__s8__6__103": {
"value": "13. Other operating expenses 2024 2023Office expenses 191 187 IT expenses 345 284 Expenses related to the stock listing - 76 Travel expenses 72 65 External services 75 61 Marketing and advertising expenses 18 26 Loss on receivables -3 5 Insurance expenses 55 39 Other operating expenses 88 100 Total 840 843Expenses related to research and development cost amount to NOK 35 million (2023: NOK 58 million).Compensation to auditors (NOK thousand) 2024 2023Statutory audit fees 6 569 5 607 Statutory audit fees other than group auditor 629 336 Other assurance engagements 170 2 531 CSRD audit fee 631 - Tax related services 318 613 Other services 1 309 1 438 Total 9 626 10 525 Compensation to auditors does not include VAT.",
"dimensions": {
"concept": "ifrs-full:DisclosureOfExpensesByNatureExplanatory",
"language": "en",
"entity": "scheme:635400VFBLRSFRXLGQ03",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
}
},
"f1__s8__6__102": {
"value": "13. Other operating expenses 2024 2023Office expenses 191 187 IT expenses 345 284 Expenses related to the stock listing - 76 Travel expenses 72 65 External services 75 61 Marketing and advertising expenses 18 26 Loss on receivables -3 5 Insurance expenses 55 39 Other operating expenses 88 100 Total 840 843Expenses related to research and development cost amount to NOK 35 million (2023: NOK 58 million).Compensation to auditors (NOK thousand) 2024 2023Statutory audit fees 6 569 5 607 Statutory audit fees other than group auditor 629 336 Other assurance engagements 170 2 531 CSRD audit fee 631 - Tax related services 318 613 Other services 1 309 1 438 Total 9 626 10 525 Compensation to auditors does not include VAT.",
"dimensions": {
"concept": "ifrs-full:DisclosureOfOtherOperatingExpenseExplanatory",
"language": "en",
"entity": "scheme:635400VFBLRSFRXLGQ03",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
}
},
"f1__s8__6__101": {
"value": "13. Other operating expenses 2024 2023Office expenses 191 187 IT expenses 345 284 Expenses related to the stock listing - 76 Travel expenses 72 65 External services 75 61 Marketing and advertising expenses 18 26 Loss on receivables -3 5 Insurance expenses 55 39 Other operating expenses 88 100 Total 840 843Expenses related to research and development cost amount to NOK 35 million (2023: NOK 58 million).Compensation to auditors (NOK thousand) 2024 2023Statutory audit fees 6 569 5 607 Statutory audit fees other than group auditor 629 336 Other assurance engagements 170 2 531 CSRD audit fee 631 - Tax related services 318 613 Other services 1 309 1 438 Total 9 626 10 525 Compensation to auditors does not include VAT.",
"dimensions": {
"concept": "ifrs-full:DisclosureOfOtherOperatingIncomeExpenseExplanatory",
"language": "en",
"entity": "scheme:635400VFBLRSFRXLGQ03",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
}
},
"f1__s8__6__100": {
"value": "13. Other operating expenses 2024 2023Office expenses 191 187 IT expenses 345 284 Expenses related to the stock listing - 76 Travel expenses 72 65 External services 75 61 Marketing and advertising expenses 18 26 Loss on receivables -3 5 Insurance expenses 55 39 Other operating expenses 88 100 Total 840 843Expenses related to research and development cost amount to NOK 35 million (2023: NOK 58 million).Compensation to auditors (NOK thousand) 2024 2023Statutory audit fees 6 569 5 607 Statutory audit fees other than group auditor 629 336 Other assurance engagements 170 2 531 CSRD audit fee 631 - Tax related services 318 613 Other services 1 309 1 438 Total 9 626 10 525 Compensation to auditors does not include VAT.",
"dimensions": {
"concept": "ifrs-full:DisclosureOfResearchAndDevelopmentExpenseExplanatory",
"language": "en",
"entity": "scheme:635400VFBLRSFRXLGQ03",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
}
},
"f1__s8__6__104": {
"value": "Compensation to auditors (NOK thousand) 2024 2023Statutory audit fees 6 569 5 607 Statutory audit fees other than group auditor 629 336 Other assurance engagements 170 2 531 CSRD audit fee 631 - Tax related services 318 613 Other services 1 309 1 438 Total 9 626 10 525 Compensation to auditors does not include VAT.",
"dimensions": {
"concept": "ifrs-full:DisclosureOfAuditorsRemunerationExplanatory",
"language": "en",
"entity": "scheme:635400VFBLRSFRXLGQ03",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
}
},
"f1__s8__6__110": {
"value": "14. Finance income and expenseFinance income 2024 2023Share of income from associates 6 0 Interest income 30 31 Foreign currency gain 21 14 Other financial income 23 27 Total financial income 80 72 Finance expense 2024 2023Interest expenses -8 -9 Foreign currency loss -25 -26 Financial expenses lease liabilities -41 -34 Other financial expenses -8 -2 Total financial expense -83 -71 Net financial items -3 1Included in other financial income is increase in the fair value of bond funds with NOK 19 million (2023: NOK 22 million).",
"dimensions": {
"concept": "ifrs-full:DisclosureOfInterestIncomeExplanatory",
"language": "en",
"entity": "scheme:635400VFBLRSFRXLGQ03",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
}
},
"f1__s8__6__109": {
"value": "14. Finance income and expenseFinance income 2024 2023Share of income from associates 6 0 Interest income 30 31 Foreign currency gain 21 14 Other financial income 23 27 Total financial income 80 72 Finance expense 2024 2023Interest expenses -8 -9 Foreign currency loss -25 -26 Financial expenses lease liabilities -41 -34 Other financial expenses -8 -2 Total financial expense -83 -71 Net financial items -3 1Included in other financial income is increase in the fair value of bond funds with NOK 19 million (2023: NOK 22 million).",
"dimensions": {
"concept": "ifrs-full:DisclosureOfInterestIncomeExpenseExplanatory",
"language": "en",
"entity": "scheme:635400VFBLRSFRXLGQ03",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
}
},
"f1__s8__6__108": {
"value": "14. Finance income and expenseFinance income 2024 2023Share of income from associates 6 0 Interest income 30 31 Foreign currency gain 21 14 Other financial income 23 27 Total financial income 80 72 Finance expense 2024 2023Interest expenses -8 -9 Foreign currency loss -25 -26 Financial expenses lease liabilities -41 -34 Other financial expenses -8 -2 Total financial expense -83 -71 Net financial items -3 1Included in other financial income is increase in the fair value of bond funds with NOK 19 million (2023: NOK 22 million).",
"dimensions": {
"concept": "ifrs-full:DisclosureOfInterestExpenseExplanatory",
"language": "en",
"entity": "scheme:635400VFBLRSFRXLGQ03",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
}
},
"f1__s8__6__107": {
"value": "14. Finance income and expenseFinance income 2024 2023Share of income from associates 6 0 Interest income 30 31 Foreign currency gain 21 14 Other financial income 23 27 Total financial income 80 72 Finance expense 2024 2023Interest expenses -8 -9 Foreign currency loss -25 -26 Financial expenses lease liabilities -41 -34 Other financial expenses -8 -2 Total financial expense -83 -71 Net financial items -3 1Included in other financial income is increase in the fair value of bond funds with NOK 19 million (2023: NOK 22 million).",
"dimensions": {
"concept": "ifrs-full:DisclosureOfFinanceCostExplanatory",
"language": "en",
"entity": "scheme:635400VFBLRSFRXLGQ03",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
}
},
"f1__s8__6__106": {
"value": "14. Finance income and expenseFinance income 2024 2023Share of income from associates 6 0 Interest income 30 31 Foreign currency gain 21 14 Other financial income 23 27 Total financial income 80 72 Finance expense 2024 2023Interest expenses -8 -9 Foreign currency loss -25 -26 Financial expenses lease liabilities -41 -34 Other financial expenses -8 -2 Total financial expense -83 -71 Net financial items -3 1Included in other financial income is increase in the fair value of bond funds with NOK 19 million (2023: NOK 22 million).",
"dimensions": {
"concept": "ifrs-full:DisclosureOfFinanceIncomeExplanatory",
"language": "en",
"entity": "scheme:635400VFBLRSFRXLGQ03",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
}
},
"f1__s8__6__105": {
"value": "14. Finance income and expenseFinance income 2024 2023Share of income from associates 6 0 Interest income 30 31 Foreign currency gain 21 14 Other financial income 23 27 Total financial income 80 72 Finance expense 2024 2023Interest expenses -8 -9 Foreign currency loss -25 -26 Financial expenses lease liabilities -41 -34 Other financial expenses -8 -2 Total financial expense -83 -71 Net financial items -3 1Included in other financial income is increase in the fair value of bond funds with NOK 19 million (2023: NOK 22 million).",
"dimensions": {
"concept": "ifrs-full:DisclosureOfFinanceIncomeExpenseExplanatory",
"language": "en",
"entity": "scheme:635400VFBLRSFRXLGQ03",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
}
},
"f1__s8__6__115": {
"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. Based on the Safe Harbour tests, Norconsult Group is not exposed to top-up tax payments. Therefore, the consolidated financial statements do not include information required by paragraphs 88A-88D of IAS 12. Given the complexity involved in applying the legislation and in the requisite calculations, Norconsult will continue to evaluate its exposure. The major components of income tax expense:2024 2023Current income tax charge 72 177 Taxes from prior years -31 -2 Change in deferred tax 28 -17 Income tax expense (income) 69 158 Reconciliation of tax expense and profit (loss) before tax:2024 2023Profit before tax 567 674 Estimated tax on profit (loss) before tax (22%) 125 148 Effect of permanent differences -47 12 Effect of different tax rates in foreign operations -1 -2 Adjustment to previous years' taxes -12 Changes in unrecognised deferred tax asset 3 - Income tax expense (income) 69 158 Permanent differences for 2024 are primarily related to settlement of the Group\u2019s share-based payment, with a positive tax effect of NOK -55 million for subsidiaries which have booked settlement of the share-based payment partly against equity in line with IFRS 2. In addition, other non-deductible expenses of NOK 8 million. 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. Deferred tax assets (liabilities) relate to the following:2024 2023Goodwill and property plant and equipment 112 121 Net deferred gain on sale of property plant -67 -80 and equipmentRight of use assets, net 10 8 Net contract assets/receivables -92 -68 Intangible assets -7 -5 Receivables 8 11 Tax loss carry forward 8 12 Other temporary differences -20 -11 Total deferred tax assets (liabilities) -49 -13 Deferred tax assets not recognised -6 -7 Net deferred tax assets (liabilities) -55 -20 in statement of financial positionDeferred tax assets 28 4 Deferred tax liabilities -83 -24 Net deferred tax assets (liabilities) -55 -20 in statement of financial positionReconciliation of net deferred tax asset (liability):2024 2023As of 1 January -20 -30 Tax expense (income) for the period -10 16 Change in deferred tax related to prior years -18 0 Deferred tax from acquisition and disposal of subsidiaries -6 -1 Effect of foreign currency translation -2 -5 As of 31 December -55 -20 Deferred tax assets not recognised relate to tax loss carry forwards both within and 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": "2024-01-01T00:00:00/2025-01-01T00:00:00"
}
},
"f1__s8__6__114": {
"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. Based on the Safe Harbour tests, Norconsult Group is not exposed to top-up tax payments. Therefore, the consolidated financial statements do not include information required by paragraphs 88A-88D of IAS 12. Given the complexity involved in applying the legislation and in the requisite calculations, Norconsult will continue to evaluate its exposure. The major components of income tax expense:2024 2023Current income tax charge 72 177 Taxes from prior years -31 -2 Change in deferred tax 28 -17 Income tax expense (income) 69 158 Reconciliation of tax expense and profit (loss) before tax:2024 2023Profit before tax 567 674 Estimated tax on profit (loss) before tax (22%) 125 148 Effect of permanent differences -47 12 Effect of different tax rates in foreign operations -1 -2 Adjustment to previous years' taxes -12 Changes in unrecognised deferred tax asset 3 - Income tax expense (income) 69 158 Permanent differences for 2024 are primarily related to settlement of the Group\u2019s share-based payment, with a positive tax effect of NOK -55 million for subsidiaries which have booked settlement of the share-based payment partly against equity in line with IFRS 2. In addition, other non-deductible expenses of NOK 8 million. 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. Deferred tax assets (liabilities) relate to the following:2024 2023Goodwill and property plant and equipment 112 121 Net deferred gain on sale of property plant -67 -80 and equipmentRight of use assets, net 10 8 Net contract assets/receivables -92 -68 Intangible assets -7 -5 Receivables 8 11 Tax loss carry forward 8 12 Other temporary differences -20 -11 Total deferred tax assets (liabilities) -49 -13 Deferred tax assets not recognised -6 -7 Net deferred tax assets (liabilities) -55 -20 in statement of financial positionDeferred tax assets 28 4 Deferred tax liabilities -83 -24 Net deferred tax assets (liabilities) -55 -20 in statement of financial positionReconciliation of net deferred tax asset (liability):2024 2023As of 1 January -20 -30 Tax expense (income) for the period -10 16 Change in deferred tax related to prior years -18 0 Deferred tax from acquisition and disposal of subsidiaries -6 -1 Effect of foreign currency translation -2 -5 As of 31 December -55 -20 Deferred tax assets not recognised relate to tax loss carry forwards both within and 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": "2024-01-01T00:00:00/2025-01-01T00:00:00"
}
},
"f1__s8__6__111": {
"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. Based on the Safe Harbour tests, Norconsult Group is not exposed to top-up tax payments. Therefore, the consolidated financial statements do not include information required by paragraphs 88A-88D of IAS 12. Given the complexity involved in applying the legislation and in the requisite calculations, Norconsult will continue to evaluate its exposure. The major components of income tax expense:2024 2023Current income tax charge 72 177 Taxes from prior years -31 -2 Change in deferred tax 28 -17 Income tax expense (income) 69 158 Reconciliation of tax expense and profit (loss) before tax:2024 2023Profit before tax 567 674 Estimated tax on profit (loss) before tax (22%) 125 148 Effect of permanent differences -47 12 Effect of different tax rates in foreign operations -1 -2 Adjustment to previous years' taxes -12 Changes in unrecognised deferred tax asset 3 - Income tax expense (income) 69 158 Permanent differences for 2024 are primarily related to settlement of the Group\u2019s share-based payment, with a positive tax effect of NOK -55 million for subsidiaries which have booked settlement of the share-based payment partly against equity in line with IFRS 2. In addition, other non-deductible expenses of NOK 8 million. 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. Deferred tax assets (liabilities) relate to the following:2024 2023Goodwill and property plant and equipment 112 121 Net deferred gain on sale of property plant -67 -80 and equipmentRight of use assets, net 10 8 Net contract assets/receivables -92 -68 Intangible assets -7 -5 Receivables 8 11 Tax loss carry forward 8 12 Other temporary differences -20 -11 Total deferred tax assets (liabilities) -49 -13 Deferred tax assets not recognised -6 -7 Net deferred tax assets (liabilities) -55 -20 in statement of financial positionDeferred tax assets 28 4 Deferred tax liabilities -83 -24 Net deferred tax assets (liabilities) -55 -20 in statement of financial positionReconciliation of net deferred tax asset (liability):2024 2023As of 1 January -20 -30 Tax expense (income) for the period -10 16 Change in deferred tax related to prior years -18 0 Deferred tax from acquisition and disposal of subsidiaries -6 -1 Effect of foreign currency translation -2 -5 As of 31 December -55 -20 Deferred tax assets not recognised relate to tax loss carry forwards both within and 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": "2024-01-01T00:00:00/2025-01-01T00:00:00"
}
},
"f1__s8__6__113": {
"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. Based on the Safe Harbour tests, Norconsult Group is not exposed to top-up tax payments. Therefore, the consolidated financial statements do not include information required by paragraphs 88A-88D of IAS 12. Given the complexity involved in applying the legislation and in the requisite calculations, Norconsult will continue to evaluate its exposure.",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForDeferredIncomeTaxExplanatory",
"language": "en",
"entity": "scheme:635400VFBLRSFRXLGQ03",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
}
},
"f1__s8__6__112": {
"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. Based on the Safe Harbour tests, Norconsult Group is not exposed to top-up tax payments. Therefore, the consolidated financial statements do not include information required by paragraphs 88A-88D of IAS 12. Given the complexity involved in applying the legislation and in the requisite calculations, Norconsult will continue to evaluate its exposure.",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForIncomeTaxExplanatory",
"language": "en",
"entity": "scheme:635400VFBLRSFRXLGQ03",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
}
},
"f1__s8__6__116": {
"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 that potentially could give rise to a dilutive effect for other shareholders. Earnings per share is therefore presented with and without a dilutive effect. 2024 2023Profit for the period (NOK million) 496 516 Weighted average shares outstanding excluding treasury shares 288 908 931 281 179 178 Average shares outstanding including dilutive shares 300 210 990 283 294 184 Basic earnings per share, in NOK 1.72 1.83Diluted earnings per share, in NOK 1.65 1.82",
"dimensions": {
"concept": "ifrs-full:DisclosureOfEarningsPerShareExplanatory",
"language": "en",
"entity": "scheme:635400VFBLRSFRXLGQ03",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
}
},
"f1__s8__6__117": {
"value": "Accounting 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 that potentially could give rise to a dilutive effect for other shareholders. Earnings per share is therefore presented with and without a dilutive effect.",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForEarningsPerShareExplanatory",
"language": "en",
"entity": "scheme:635400VFBLRSFRXLGQ03",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
}
},
"f1__s8__6__122": {
"value": "17. Non-current financial assets and associated companies2024 2023Shares in associates 6 3 Non-current financial investments 26 19 Other non-current receivables 28 38 Total 59 61 Movement in shares in associates 2024 2023Opening carrying amount 3 3 Share of profit 6 0 Dividend -3 - Closing carrying amount 6 3 Associated companies are listed in note 23. The Group had revenues from associated companies running projects with joint operations of NOK 106 million (2023: NOK 130 million). 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": "2024-01-01T00:00:00/2025-01-01T00:00:00"
}
},
"f1__s8__6__121-1": {
"value": "17. Non-current financial assets and associated companies2024 2023Shares in associates 6 3 Non-current financial investments 26 19 Other non-current receivables 28 38 Total 59 61 Movement in shares in associates 2024 2023Opening carrying amount 3 3 Share of profit 6 0 Dividend -3 - Closing carrying amount 6 3 Associated companies are listed in note 23. The Group had revenues from associated companies running projects with joint operations of NOK 106 million (2023: NOK 130 million). The associated companies are deemed not to be material to the Group and further information is therefore not provided.18. Other current assets 2024 2023Prepaid operating expenses 114 146 Prepaid corporate taxes 69 56 Other current receivables 52 43 Total 235 245",
"dimensions": {
"concept": "ifrs-full:DisclosureOfOtherAssetsExplanatory",
"language": "en",
"entity": "scheme:635400VFBLRSFRXLGQ03",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
}
},
"f1__s8__6__120-1": {
"value": "17. Non-current financial assets and associated companies2024 2023Shares in associates 6 3 Non-current financial investments 26 19 Other non-current receivables 28 38 Total 59 61 Movement in shares in associates 2024 2023Opening carrying amount 3 3 Share of profit 6 0 Dividend -3 - Closing carrying amount 6 3 Associated companies are listed in note 23. The Group had revenues from associated companies running projects with joint operations of NOK 106 million (2023: NOK 130 million). 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 owner- Voting and owner- ship share 2024ship share 2023Norconsult Norge AS Oslo 100 % 100 % Shares owned by subsidiaries Company Office Voting and owner- Voting and owner- Shares owned by ship share 2024ship share 2023Norconsult 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 ASSQM AS Oslo 51 % 0 % Norconsult Norge ASNorconsult Africa (PtY) Ltd Johannesburg 100 % 100 % Norconsult Norge ASNorpower Sdn Bhd Kuching 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 ABArkitekthuset Monarken AB Lule\u00e5 100 % 100 % Norconsult Sverige ABNOCA Teknik AB G\u00f8teborg 100 % 100 % Norconsult Sverige ABWermlands Infrakonsult AB Karlstad 100 % 0 % Norconsult Sverige ABNorconsult Boreteknikk AS Torp 100 % 100 % Norconsult F\u00e4ltgeoteknik ABAreal & Eiendom AS Lillestr\u00f8m 100 % 100 % Norfin ASMoldskred AS \u00c5lesund 100 % 100 % Norfin ASJAF Arkitektkontor AS Gj\u00f8vik 100 % 100 % Norfin ASShares owned by subsidiaries Company Office Voting and owner- Voting and owner- Shares owned by ship share 2024ship share 2023Concreto AS Oslo 100 % 0 % Norfin ASSkovhus Arkitekter A/S Aarhus 100 % 100 % Norconsult Danmark A/SKHS Arkitekter A/S Kongens 100 % 100 % Norconsult Danmark A/SLyngbyNordic - Office of Architecture A/S K\u00f8benhavn 100 % 100 % Norconsult Danmark A/SRubow Arkitekter Holding A/S K\u00f8benhavn 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 Jord-Milj\u00f8 A/S Sm\u00f8rum 100 % 100 % Norconsult Danmark A/SNorconsult Jord Teknik A/S Sm\u00f8rum 100 % 100 % Norconsult Jord-Milj\u00f8 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 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 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 Bangkok 24,5 % 24,5 % Norconsult Norge ASTeam Major AS Oslo 50,0 % 50,0 % Norconsult Norge ASTeam Urbis AS Oslo 22,5 % 22,5 % Nordic Office of Architecture 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": "2024-01-01T00:00:00/2025-01-01T00:00:00"
}
},
"f1__s8__6__118": {
"value": "17. Non-current financial assets and associated companies2024 2023Shares in associates 6 3 Non-current financial investments 26 19 Other non-current receivables 28 38 Total 59 61 Movement in shares in associates 2024 2023Opening carrying amount 3 3 Share of profit 6 0 Dividend -3 - Closing carrying amount 6 3 Associated companies are listed in note 23. The Group had revenues from associated companies running projects with joint operations of NOK 106 million (2023: NOK 130 million). 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": "2024-01-01T00:00:00/2025-01-01T00:00:00"
}
},
"f1__s8__6__119-1": {
"value": "Movement in shares in associates 2024 2023Opening carrying amount 3 3 Share of profit 6 0 Dividend -3 - Closing carrying amount 6 3 Associated companies are listed in note 23. The Group had revenues from associated companies running projects with joint operations of NOK 106 million (2023: NOK 130 million). The associated companies are deemed not to be material to the Group and further information is therefore not provided.Company Office Voting and owner- Voting and owner- Shares owned by ship share 2024ship share 2023Concreto AS Oslo 100 % 0 % Norfin ASSkovhus Arkitekter A/S Aarhus 100 % 100 % Norconsult Danmark A/SKHS Arkitekter A/S Kongens 100 % 100 % Norconsult Danmark A/SLyngbyNordic - Office of Architecture A/S K\u00f8benhavn 100 % 100 % Norconsult Danmark A/SRubow Arkitekter Holding A/S K\u00f8benhavn 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 Jord-Milj\u00f8 A/S Sm\u00f8rum 100 % 100 % Norconsult Danmark A/SNorconsult Jord Teknik A/S Sm\u00f8rum 100 % 100 % Norconsult Jord-Milj\u00f8 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 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 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 Bangkok 24,5 % 24,5 % Norconsult Norge ASTeam Major AS Oslo 50,0 % 50,0 % Norconsult Norge ASTeam Urbis AS Oslo 22,5 % 22,5 % Nordic Office of Architecture 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": "2024-01-01T00:00:00/2025-01-01T00:00:00"
}
},
"f1__s8__6__125": {
"value": "18. Other current assets 2024 2023Prepaid operating expenses 114 146 Prepaid corporate taxes 69 56 Other current receivables 52 43 Total 235 245",
"dimensions": {
"concept": "ifrs-full:DisclosureOfPrepaymentsAndOtherAssetsExplanatory",
"language": "en",
"entity": "scheme:635400VFBLRSFRXLGQ03",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
}
},
"f1__s8__6__124": {
"value": "18. Other current assets 2024 2023Prepaid operating expenses 114 146 Prepaid corporate taxes 69 56 Other current receivables 52 43 Total 235 245",
"dimensions": {
"concept": "ifrs-full:DisclosureOfOtherCurrentAssetsExplanatory",
"language": "en",
"entity": "scheme:635400VFBLRSFRXLGQ03",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
}
},
"f1__s8__6__127": {
"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.2024 2023Cash and bank deposits 1 173 535 Cash restricted for payment of employee taxes 23 16 Other restricted cash 2 2 Total 1 198 553",
"dimensions": {
"concept": "ifrs-full:DisclosureOfRestrictedCashAndCashEquivalentsExplanatory",
"language": "en",
"entity": "scheme:635400VFBLRSFRXLGQ03",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
}
},
"f1__s8__6__126": {
"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.2024 2023Cash and bank deposits 1 173 535 Cash restricted for payment of employee taxes 23 16 Other restricted cash 2 2 Total 1 198 553",
"dimensions": {
"concept": "ifrs-full:DisclosureOfCashAndCashEquivalentsExplanatory",
"language": "en",
"entity": "scheme:635400VFBLRSFRXLGQ03",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
}
},
"f1__s8__6__129": {
"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": "2024-01-01T00:00:00/2025-01-01T00:00:00"
}
},
"f1__s8__6__128": {
"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": "2024-01-01T00:00:00/2025-01-01T00:00:00"
}
},
"f1__s8__6__134": {
"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 2024 2023Dividends paid to shareholders of Norconsult ASA 343 869 Dividends per share 1.20 3.08 After 31 December 2024, dividends of NOK 512 million (NOK 1.70 per share) are proposed by the Board of Directors for approval at the annual general meeting in 2025.During the year the Company purchased 376 725 (2023: 14 014 053) corresponding to 0.1% (2023: 4.5%) of the issued shares. The Group sold 16 230 057 (2023: 20 198 111) corresponding to 5.2% of issued shares (2023: 6.5%)At 31 December 2024 the Company held 9 075 285 treasury shares (2023: 24 928 617) corresponding to 2.9% of issued shares. At the annual general meeting in May 2024 the Board was authorized to increase the share capital in the Company with up to 10%, to be used in connection with future investments, share or incentive programs for the employees of the Norconsult group, to strengthen the company\u2019s capital, or to use as consideration in relation to acquisitions of businesses, mergers, demerger or other transactions. The authorisation is valid until the next ordinary annual meeting, but not longer than to 30 June 2025.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, for subsequent sale of acquired shares or share capital reductions or in connection with share or incentive programs for the employees of the Norconsult group. The authorisation is valid until the next ordinary annual meeting but not longer than to 30 June 2025.The Company\u2019s 20 largest external shareholders at 31 December 2024:Name Country Number % of shares of sharesoutstandingThe Bank of New York Mellon SA/NV Belgium 5 100 000 1.7 %DANSKE INVEST NORSKE INSTIT. II. Norway 5 025 920 1.7 %VERDIPAPIRFONDET HOLBERG NORGE Norway 4 791 063 1.6 %Nordea Bank Abp Sweden 4 359 043 1.4 %KVERVA FINANS AS Norway 4 343 028 1.4 %VERDIPAPIRFONDET DNB NORGE Norway 4 078 436 1.4 %Brown Brothers Harriman & Co. USA 3 589 300 1.2 %VPF DNB AM NORSKE AKSJER Norway 3 202 830 1.1 %Nordnet Bank AB Sweden 3 126 081 1.0 %State Street Bank and Trust Comp USA 3 088 907 1.0 %CACEIS Bank France 3 081 511 1.0 %UBS SECURITIES LLC USA 2 831 000 0.9 %J.P. Morgan SE Luxembourg 2 734 748 0.9 %OBOS BBL Norway 2 631 579 0.9 %Morgan Stanley & Co. Int. Plc. United Kingdom 2 447 330 0.8 %State Street Bank and Trust Comp USA 2 402 104 0.8 %LUDVIG LORENTZEN AS Norway 2 280 000 0.8 %The Bank of New York Mellon SA/NV Belgium 1 965 199 0.7 %Swedbank AB Sweden 1 893 233 0.6 %VERDIPAPIRFONDET DNB SMB Norway 1 811 402 0.6 %Total shares owned by top 20 64 782 714 21.5 %Total number of shares including treasury shares 310 496 875 Total number of shares outstanding excluding treasury shares 301 421 590 Foreign shareholders hold 27% (2023: 15%) 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 2024: 2024 2023Shares held by Board of Directors and Executive ManagementShares Share Shares Share optionsoptionsNils Morten Huseby, Chairman of the Board 57 931 52 631 Mari Tj\u00f8m\u00f8e, Deputy Chairman of the Board 31 052 21 052 Karl Erik Kjelstad, Board member 30 000 Lars-Petter Nesv\u00e5g, Board member 671 308 462 667 809 2 575 Harald Trosvik, Board member 218 725 218 725 2 575 Annette Sandra Angelica Kuru, Board member 9 224 462 Helge Hesjedal Wiberg, Board member 43 175 40 138 2 575 Anne Jenny Bergseth, Board member 35 905 462 32 406 2 575 Egil Hogna, CEO 1 150 623 9 314 1 129 181 2 575 Dag Fladby, CFO 216 507 3 932 210 000 2 575 Hege Nj\u00e5 Bj\u00f8rkmann, EVP Communication and brand 146 755 1 878 140 350 2 575 Marisa Ruiz Retamar. EVP HR 68 262 1 410 B\u00e5rd Hernes, EVP Norway Head Office 1 337 628 3 616 1 327 631 2 575 Vegard Jacobsen, EVP Norway Regions 392 499 3 424 386 500 2 575 Sten-Ole Nilsen, EVP Renewable Energy 589 680 2 955 584 150 2 575 Kathrine Duun Moen, EVP Technogarden and Digital 112 312 3 477 102 631 2 575 Farah Al-Aieshy, EVP Sweden 172 371 3 602 162 500 2 575 Thomas Bolding Rasmussen, EVP Denmark 187 370 4 804 175 000 2 575",
"dimensions": {
"concept": "ifrs-full:DisclosureOfTreasurySharesExplanatory",
"language": "en",
"entity": "scheme:635400VFBLRSFRXLGQ03",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
}
},
"f1__s8__6__133": {
"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 2024 2023Dividends paid to shareholders of Norconsult ASA 343 869 Dividends per share 1.20 3.08 After 31 December 2024, dividends of NOK 512 million (NOK 1.70 per share) are proposed by the Board of Directors for approval at the annual general meeting in 2025.During the year the Company purchased 376 725 (2023: 14 014 053) corresponding to 0.1% (2023: 4.5%) of the issued shares. The Group sold 16 230 057 (2023: 20 198 111) corresponding to 5.2% of issued shares (2023: 6.5%)At 31 December 2024 the Company held 9 075 285 treasury shares (2023: 24 928 617) corresponding to 2.9% of issued shares. At the annual general meeting in May 2024 the Board was authorized to increase the share capital in the Company with up to 10%, to be used in connection with future investments, share or incentive programs for the employees of the Norconsult group, to strengthen the company\u2019s capital, or to use as consideration in relation to acquisitions of businesses, mergers, demerger or other transactions. The authorisation is valid until the next ordinary annual meeting, but not longer than to 30 June 2025.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, for subsequent sale of acquired shares or share capital reductions or in connection with share or incentive programs for the employees of the Norconsult group. The authorisation is valid until the next ordinary annual meeting but not longer than to 30 June 2025.The Company\u2019s 20 largest external shareholders at 31 December 2024:Name Country Number % of shares of sharesoutstandingThe Bank of New York Mellon SA/NV Belgium 5 100 000 1.7 %DANSKE INVEST NORSKE INSTIT. II. Norway 5 025 920 1.7 %VERDIPAPIRFONDET HOLBERG NORGE Norway 4 791 063 1.6 %Nordea Bank Abp Sweden 4 359 043 1.4 %KVERVA FINANS AS Norway 4 343 028 1.4 %VERDIPAPIRFONDET DNB NORGE Norway 4 078 436 1.4 %Brown Brothers Harriman & Co. USA 3 589 300 1.2 %VPF DNB AM NORSKE AKSJER Norway 3 202 830 1.1 %Nordnet Bank AB Sweden 3 126 081 1.0 %State Street Bank and Trust Comp USA 3 088 907 1.0 %CACEIS Bank France 3 081 511 1.0 %UBS SECURITIES LLC USA 2 831 000 0.9 %J.P. Morgan SE Luxembourg 2 734 748 0.9 %OBOS BBL Norway 2 631 579 0.9 %Morgan Stanley & Co. Int. Plc. United Kingdom 2 447 330 0.8 %State Street Bank and Trust Comp USA 2 402 104 0.8 %LUDVIG LORENTZEN AS Norway 2 280 000 0.8 %The Bank of New York Mellon SA/NV Belgium 1 965 199 0.7 %Swedbank AB Sweden 1 893 233 0.6 %VERDIPAPIRFONDET DNB SMB Norway 1 811 402 0.6 %Total shares owned by top 20 64 782 714 21.5 %Total number of shares including treasury shares 310 496 875 Total number of shares outstanding excluding treasury shares 301 421 590 Foreign shareholders hold 27% (2023: 15%) 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 2024: 2024 2023Shares held by Board of Directors and Executive ManagementShares Share Shares Share optionsoptionsNils Morten Huseby, Chairman of the Board 57 931 52 631 Mari Tj\u00f8m\u00f8e, Deputy Chairman of the Board 31 052 21 052 Karl Erik Kjelstad, Board member 30 000 Lars-Petter Nesv\u00e5g, Board member 671 308 462 667 809 2 575 Harald Trosvik, Board member 218 725 218 725 2 575 Annette Sandra Angelica Kuru, Board member 9 224 462 Helge Hesjedal Wiberg, Board member 43 175 40 138 2 575 Anne Jenny Bergseth, Board member 35 905 462 32 406 2 575 Egil Hogna, CEO 1 150 623 9 314 1 129 181 2 575 Dag Fladby, CFO 216 507 3 932 210 000 2 575 Hege Nj\u00e5 Bj\u00f8rkmann, EVP Communication and brand 146 755 1 878 140 350 2 575 Marisa Ruiz Retamar. EVP HR 68 262 1 410 B\u00e5rd Hernes, EVP Norway Head Office 1 337 628 3 616 1 327 631 2 575 Vegard Jacobsen, EVP Norway Regions 392 499 3 424 386 500 2 575 Sten-Ole Nilsen, EVP Renewable Energy 589 680 2 955 584 150 2 575 Kathrine Duun Moen, EVP Technogarden and Digital 112 312 3 477 102 631 2 575 Farah Al-Aieshy, EVP Sweden 172 371 3 602 162 500 2 575 Thomas Bolding Rasmussen, EVP Denmark 187 370 4 804 175 000 2 575",
"dimensions": {
"concept": "ifrs-full:DisclosureOfDividendsExplanatory",
"language": "en",
"entity": "scheme:635400VFBLRSFRXLGQ03",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
}
},
"f1__s8__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 2024 2023Dividends paid to shareholders of Norconsult ASA 343 869 Dividends per share 1.20 3.08 After 31 December 2024, dividends of NOK 512 million (NOK 1.70 per share) are proposed by the Board of Directors for approval at the annual general meeting in 2025.During the year the Company purchased 376 725 (2023: 14 014 053) corresponding to 0.1% (2023: 4.5%) of the issued shares. The Group sold 16 230 057 (2023: 20 198 111) corresponding to 5.2% of issued shares (2023: 6.5%)At 31 December 2024 the Company held 9 075 285 treasury shares (2023: 24 928 617) corresponding to 2.9% of issued shares. At the annual general meeting in May 2024 the Board was authorized to increase the share capital in the Company with up to 10%, to be used in connection with future investments, share or incentive programs for the employees of the Norconsult group, to strengthen the company\u2019s capital, or to use as consideration in relation to acquisitions of businesses, mergers, demerger or other transactions. The authorisation is valid until the next ordinary annual meeting, but not longer than to 30 June 2025.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, for subsequent sale of acquired shares or share capital reductions or in connection with share or incentive programs for the employees of the Norconsult group. The authorisation is valid until the next ordinary annual meeting but not longer than to 30 June 2025.The Company\u2019s 20 largest external shareholders at 31 December 2024:Name Country Number % of shares of sharesoutstandingThe Bank of New York Mellon SA/NV Belgium 5 100 000 1.7 %DANSKE INVEST NORSKE INSTIT. II. Norway 5 025 920 1.7 %VERDIPAPIRFONDET HOLBERG NORGE Norway 4 791 063 1.6 %Nordea Bank Abp Sweden 4 359 043 1.4 %KVERVA FINANS AS Norway 4 343 028 1.4 %VERDIPAPIRFONDET DNB NORGE Norway 4 078 436 1.4 %Brown Brothers Harriman & Co. USA 3 589 300 1.2 %VPF DNB AM NORSKE AKSJER Norway 3 202 830 1.1 %Nordnet Bank AB Sweden 3 126 081 1.0 %State Street Bank and Trust Comp USA 3 088 907 1.0 %CACEIS Bank France 3 081 511 1.0 %UBS SECURITIES LLC USA 2 831 000 0.9 %J.P. Morgan SE Luxembourg 2 734 748 0.9 %OBOS BBL Norway 2 631 579 0.9 %Morgan Stanley & Co. Int. Plc. United Kingdom 2 447 330 0.8 %State Street Bank and Trust Comp USA 2 402 104 0.8 %LUDVIG LORENTZEN AS Norway 2 280 000 0.8 %The Bank of New York Mellon SA/NV Belgium 1 965 199 0.7 %Swedbank AB Sweden 1 893 233 0.6 %VERDIPAPIRFONDET DNB SMB Norway 1 811 402 0.6 %Total shares owned by top 20 64 782 714 21.5 %Total number of shares including treasury shares 310 496 875 Total number of shares outstanding excluding treasury shares 301 421 590 Foreign shareholders hold 27% (2023: 15%) 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 2024: 2024 2023Shares held by Board of Directors and Executive ManagementShares Share Shares Share optionsoptionsNils Morten Huseby, Chairman of the Board 57 931 52 631 Mari Tj\u00f8m\u00f8e, Deputy Chairman of the Board 31 052 21 052 Karl Erik Kjelstad, Board member 30 000 Lars-Petter Nesv\u00e5g, Board member 671 308 462 667 809 2 575 Harald Trosvik, Board member 218 725 218 725 2 575 Annette Sandra Angelica Kuru, Board member 9 224 462 Helge Hesjedal Wiberg, Board member 43 175 40 138 2 575 Anne Jenny Bergseth, Board member 35 905 462 32 406 2 575 Egil Hogna, CEO 1 150 623 9 314 1 129 181 2 575 Dag Fladby, CFO 216 507 3 932 210 000 2 575 Hege Nj\u00e5 Bj\u00f8rkmann, EVP Communication and brand 146 755 1 878 140 350 2 575 Marisa Ruiz Retamar. EVP HR 68 262 1 410 B\u00e5rd Hernes, EVP Norway Head Office 1 337 628 3 616 1 327 631 2 575 Vegard Jacobsen, EVP Norway Regions 392 499 3 424 386 500 2 575 Sten-Ole Nilsen, EVP Renewable Energy 589 680 2 955 584 150 2 575 Kathrine Duun Moen, EVP Technogarden and Digital 112 312 3 477 102 631 2 575 Farah Al-Aieshy, EVP Sweden 172 371 3 602 162 500 2 575 Thomas Bolding Rasmussen, EVP Denmark 187 370 4 804 175 000 2 575",
"dimensions": {
"concept": "ifrs-full:DisclosureOfIssuedCapitalExplanatory",
"language": "en",
"entity": "scheme:635400VFBLRSFRXLGQ03",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
}
},
"f1__s8__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 2024 2023Dividends paid to shareholders of Norconsult ASA 343 869 Dividends per share 1.20 3.08 After 31 December 2024, dividends of NOK 512 million (NOK 1.70 per share) are proposed by the Board of Directors for approval at the annual general meeting in 2025.During the year the Company purchased 376 725 (2023: 14 014 053) corresponding to 0.1% (2023: 4.5%) of the issued shares. The Group sold 16 230 057 (2023: 20 198 111) corresponding to 5.2% of issued shares (2023: 6.5%)At 31 December 2024 the Company held 9 075 285 treasury shares (2023: 24 928 617) corresponding to 2.9% of issued shares. At the annual general meeting in May 2024 the Board was authorized to increase the share capital in the Company with up to 10%, to be used in connection with future investments, share or incentive programs for the employees of the Norconsult group, to strengthen the company\u2019s capital, or to use as consideration in relation to acquisitions of businesses, mergers, demerger or other transactions. The authorisation is valid until the next ordinary annual meeting, but not longer than to 30 June 2025.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, for subsequent sale of acquired shares or share capital reductions or in connection with share or incentive programs for the employees of the Norconsult group. The authorisation is valid until the next ordinary annual meeting but not longer than to 30 June 2025.The Company\u2019s 20 largest external shareholders at 31 December 2024:Name Country Number % of shares of sharesoutstandingThe Bank of New York Mellon SA/NV Belgium 5 100 000 1.7 %DANSKE INVEST NORSKE INSTIT. II. Norway 5 025 920 1.7 %VERDIPAPIRFONDET HOLBERG NORGE Norway 4 791 063 1.6 %Nordea Bank Abp Sweden 4 359 043 1.4 %KVERVA FINANS AS Norway 4 343 028 1.4 %VERDIPAPIRFONDET DNB NORGE Norway 4 078 436 1.4 %Brown Brothers Harriman & Co. USA 3 589 300 1.2 %VPF DNB AM NORSKE AKSJER Norway 3 202 830 1.1 %Nordnet Bank AB Sweden 3 126 081 1.0 %State Street Bank and Trust Comp USA 3 088 907 1.0 %CACEIS Bank France 3 081 511 1.0 %UBS SECURITIES LLC USA 2 831 000 0.9 %J.P. Morgan SE Luxembourg 2 734 748 0.9 %OBOS BBL Norway 2 631 579 0.9 %Morgan Stanley & Co. Int. Plc. United Kingdom 2 447 330 0.8 %State Street Bank and Trust Comp USA 2 402 104 0.8 %LUDVIG LORENTZEN AS Norway 2 280 000 0.8 %The Bank of New York Mellon SA/NV Belgium 1 965 199 0.7 %Swedbank AB Sweden 1 893 233 0.6 %VERDIPAPIRFONDET DNB SMB Norway 1 811 402 0.6 %Total shares owned by top 20 64 782 714 21.5 %Total number of shares including treasury shares 310 496 875 Total number of shares outstanding excluding treasury shares 301 421 590 Foreign shareholders hold 27% (2023: 15%) 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 2024: 2024 2023Shares held by Board of Directors and Executive ManagementShares Share Shares Share optionsoptionsNils Morten Huseby, Chairman of the Board 57 931 52 631 Mari Tj\u00f8m\u00f8e, Deputy Chairman of the Board 31 052 21 052 Karl Erik Kjelstad, Board member 30 000 Lars-Petter Nesv\u00e5g, Board member 671 308 462 667 809 2 575 Harald Trosvik, Board member 218 725 218 725 2 575 Annette Sandra Angelica Kuru, Board member 9 224 462 Helge Hesjedal Wiberg, Board member 43 175 40 138 2 575 Anne Jenny Bergseth, Board member 35 905 462 32 406 2 575 Egil Hogna, CEO 1 150 623 9 314 1 129 181 2 575 Dag Fladby, CFO 216 507 3 932 210 000 2 575 Hege Nj\u00e5 Bj\u00f8rkmann, EVP Communication and brand 146 755 1 878 140 350 2 575 Marisa Ruiz Retamar. EVP HR 68 262 1 410 B\u00e5rd Hernes, EVP Norway Head Office 1 337 628 3 616 1 327 631 2 575 Vegard Jacobsen, EVP Norway Regions 392 499 3 424 386 500 2 575 Sten-Ole Nilsen, EVP Renewable Energy 589 680 2 955 584 150 2 575 Kathrine Duun Moen, EVP Technogarden and Digital 112 312 3 477 102 631 2 575 Farah Al-Aieshy, EVP Sweden 172 371 3 602 162 500 2 575 Thomas Bolding Rasmussen, EVP Denmark 187 370 4 804 175 000 2 575",
"dimensions": {
"concept": "ifrs-full:DisclosureOfShareCapitalReservesAndOtherEquityInterestExplanatory",
"language": "en",
"entity": "scheme:635400VFBLRSFRXLGQ03",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
}
},
"f1__s8__6__136": {
"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": "2024-01-01T00:00:00/2025-01-01T00:00:00"
}
},
"f1__s8__6__135": {
"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": "2024-01-01T00:00:00/2025-01-01T00:00:00"
}
},
"f1__s8__6__137": {
"value": "512000000.0",
"decimals": -6,
"dimensions": {
"concept": "ifrs-full:DividendsProposedOrDeclaredBeforeFinancialStatementsAuthorisedForIssueButNotRecognisedAsDistributionToOwners",
"entity": "scheme:635400VFBLRSFRXLGQ03",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00",
"unit": "iso4217:NOK"
}
},
"f1__s8__6__138": {
"value": "1.7",
"decimals": 2,
"dimensions": {
"concept": "ifrs-full:DividendsProposedOrDeclaredBeforeFinancialStatementsAuthorisedForIssueButNotRecognisedAsDistributionToOwnersPerShare",
"entity": "scheme:635400VFBLRSFRXLGQ03",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00",
"unit": "iso4217:NOK/xbrli:shares"
}
},
"f1__s8__6__140-1": {
"value": "21. Other non-current debt and accruals2024 2023Contingent consideration for business combinations 43 - Other long-term debt 37 39 Total 79 39 Movement in contingent consideration for 2024 2023business combinationsOpening carrying amount - - Increased 43 - Closing carrying amount 43 - Expected to be settled within one year - - Expected to be settled between one and five years 43 - Increased contingent considerations in 2024 is mainly related to the purchase of 49% of SQM AS to be settled between 2029 and 2031.22. 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. 2024 2023Public duties payable 1 198 920 Accrued salary 1 002 965 Accrued expenses 84 88 Accruals for restructuring - 9 Total 2 283 1 982",
"dimensions": {
"concept": "ifrs-full:DisclosureOfOtherLiabilitiesExplanatory",
"language": "en",
"entity": "scheme:635400VFBLRSFRXLGQ03",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
}
},
"f1__s8__6__139": {
"value": "21. Other non-current debt and accruals2024 2023Contingent consideration for business combinations 43 - Other long-term debt 37 39 Total 79 39 Movement in contingent consideration for 2024 2023business combinationsOpening carrying amount - - Increased 43 - Closing carrying amount 43 - Expected to be settled within one year - - Expected to be settled between one and five years 43 - Increased contingent considerations in 2024 is mainly related to the purchase of 49% of SQM AS to be settled between 2029 and 2031.",
"dimensions": {
"concept": "ifrs-full:DisclosureOfOtherNoncurrentLiabilitiesExplanatory",
"language": "en",
"entity": "scheme:635400VFBLRSFRXLGQ03",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
}
},
"f1__s8__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. 2024 2023Public duties payable 1 198 920 Accrued salary 1 002 965 Accrued expenses 84 88 Accruals for restructuring - 9 Total 2 283 1 982",
"dimensions": {
"concept": "ifrs-full:DisclosureOfAccruedExpensesAndOtherLiabilitiesExplanatory",
"language": "en",
"entity": "scheme:635400VFBLRSFRXLGQ03",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
}
},
"f1__s8__6__143": {
"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. 2024 2023Public duties payable 1 198 920 Accrued salary 1 002 965 Accrued expenses 84 88 Accruals for restructuring - 9 Total 2 283 1 982",
"dimensions": {
"concept": "ifrs-full:DisclosureOfProvisionsExplanatory",
"language": "en",
"entity": "scheme:635400VFBLRSFRXLGQ03",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
}
},
"f1__s8__6__142": {
"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. 2024 2023Public duties payable 1 198 920 Accrued salary 1 002 965 Accrued expenses 84 88 Accruals for restructuring - 9 Total 2 283 1 982",
"dimensions": {
"concept": "ifrs-full:DisclosureOfOtherCurrentLiabilitiesExplanatory",
"language": "en",
"entity": "scheme:635400VFBLRSFRXLGQ03",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
}
},
"f1__s8__6__144": {
"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": "2024-01-01T00:00:00/2025-01-01T00:00:00"
}
},
"f1__s8__6__147": {
"value": "23. Subsidiaries and composition of the groupSubsidiaries owned by Norconsult ASA Company Office Voting and owner- Voting and owner- ship share 2024ship share 2023Norconsult Norge AS Oslo 100 % 100 % Shares owned by subsidiaries Company Office Voting and owner- Voting and owner- Shares owned by ship share 2024ship share 2023Norconsult 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 ASSQM AS Oslo 51 % 0 % Norconsult Norge ASNorconsult Africa (PtY) Ltd Johannesburg 100 % 100 % Norconsult Norge ASNorpower Sdn Bhd Kuching 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 ABArkitekthuset Monarken AB Lule\u00e5 100 % 100 % Norconsult Sverige ABNOCA Teknik AB G\u00f8teborg 100 % 100 % Norconsult Sverige ABWermlands Infrakonsult AB Karlstad 100 % 0 % Norconsult Sverige ABNorconsult Boreteknikk AS Torp 100 % 100 % Norconsult F\u00e4ltgeoteknik ABAreal & Eiendom AS Lillestr\u00f8m 100 % 100 % Norfin ASMoldskred AS \u00c5lesund 100 % 100 % Norfin ASJAF Arkitektkontor AS Gj\u00f8vik 100 % 100 % Norfin ASShares owned by subsidiaries Company Office Voting and owner- Voting and owner- Shares owned by ship share 2024ship share 2023Concreto AS Oslo 100 % 0 % Norfin ASSkovhus Arkitekter A/S Aarhus 100 % 100 % Norconsult Danmark A/SKHS Arkitekter A/S Kongens 100 % 100 % Norconsult Danmark A/SLyngbyNordic - Office of Architecture A/S K\u00f8benhavn 100 % 100 % Norconsult Danmark A/SRubow Arkitekter Holding A/S K\u00f8benhavn 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 Jord-Milj\u00f8 A/S Sm\u00f8rum 100 % 100 % Norconsult Danmark A/SNorconsult Jord Teknik A/S Sm\u00f8rum 100 % 100 % Norconsult Jord-Milj\u00f8 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 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 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 Bangkok 24,5 % 24,5 % Norconsult Norge ASTeam Major AS Oslo 50,0 % 50,0 % Norconsult Norge ASTeam Urbis AS Oslo 22,5 % 22,5 % Nordic Office of Architecture 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": "2024-01-01T00:00:00/2025-01-01T00:00:00"
}
},
"f1__s8__6__150": {
"value": "24. Pledges and commitmentsThe Company has a global cash pool agreement with a credit facility (\u201cOverdraft facility\u201d) of NOK 500 million and a Multicurrency guarantee facility (\u201cGuarantee Facility\u201d) of NOK 350 million with the Swedish branch of Nordea Bank Abp. These facilities are valid until 30 June 2025. The facilities include a negative pledge and is secured by a NOK 900 million pledge over the trade receivables of Norconsult Norge AS. There are no drawings on this facility as of 31 December 2024. The carrying value of the pledged trade receivables is NOK 1 129 million 31 December 2024 (2023: NOK 1 130 million).The Overdraft facility 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 compliant with both requirements 31 December 2024.Guarantees issued by financial institutions on behalf of the Group:2024 2023Guarantee for employee taxes withheld 258 214Contract guarantees 78 73Total 336 287",
"dimensions": {
"concept": "ifrs-full:DisclosureOfCommitmentsExplanatory",
"language": "en",
"entity": "scheme:635400VFBLRSFRXLGQ03",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
}
},
"f1__s8__6__149": {
"value": "24. Pledges and commitmentsThe Company has a global cash pool agreement with a credit facility (\u201cOverdraft facility\u201d) of NOK 500 million and a Multicurrency guarantee facility (\u201cGuarantee Facility\u201d) of NOK 350 million with the Swedish branch of Nordea Bank Abp. These facilities are valid until 30 June 2025. The facilities include a negative pledge and is secured by a NOK 900 million pledge over the trade receivables of Norconsult Norge AS. There are no drawings on this facility as of 31 December 2024. The carrying value of the pledged trade receivables is NOK 1 129 million 31 December 2024 (2023: NOK 1 130 million).The Overdraft facility 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 compliant with both requirements 31 December 2024.Guarantees issued by financial institutions on behalf of the Group:2024 2023Guarantee for employee taxes withheld 258 214Contract guarantees 78 73Total 336 287DisputesNorconsult 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": "2024-01-01T00:00:00/2025-01-01T00:00:00"
}
},
"f1__s8__6__151": {
"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": "2024-01-01T00:00:00/2025-01-01T00:00:00"
}
},
"f1__s8__6__152": {
"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": "2024-01-01T00:00:00/2025-01-01T00:00:00"
}
},
"f1__s8__6__153": {
"value": "26. Subsequent eventsNo additional events have been identified that require disclosure.",
"dimensions": {
"concept": "ifrs-full:DisclosureOfEventsAfterReportingPeriodExplanatory",
"language": "en",
"entity": "scheme:635400VFBLRSFRXLGQ03",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
}
}
}
}