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"period": "2022-01-01T00:00:00/2023-01-01T00:00:00", "unit": "iso4217:EUR" } }, "ID_457": { "value": "2000000", "decimals": -6, "dimensions": { "concept": "ifrs-full:IncreaseDecreaseThroughSharebasedPaymentTransactions", "entity": "scheme:743700G7A9J1PHM3X223", "period": "2022-01-01T00:00:00/2023-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:RetainedEarningsMember", "unit": "iso4217:EUR" } }, "ID_458": { "value": "2000000", "decimals": -6, "dimensions": { "concept": "ifrs-full:IncreaseDecreaseThroughSharebasedPaymentTransactions", "entity": "scheme:743700G7A9J1PHM3X223", "period": "2022-01-01T00:00:00/2023-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:EquityAttributableToOwnersOfParentMember", "unit": "iso4217:EUR" } }, "ID_459": { "value": "2000000", "decimals": -6, "dimensions": { "concept": "ifrs-full:IncreaseDecreaseThroughSharebasedPaymentTransactions", "entity": "scheme:743700G7A9J1PHM3X223", "period": "2022-01-01T00:00:00/2023-01-01T00:00:00", "unit": "iso4217:EUR" } }, "ID_348AA": { "value": "336000000", "decimals": -6, "dimensions": { "concept": "ifrs-full:Equity", "entity": "scheme:743700G7A9J1PHM3X223", "period": "2023-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:IssuedCapitalMember", "unit": "iso4217:EUR" } }, "ID_349AA": { "value": "61000000", "decimals": -6, "dimensions": { "concept": "ifrs-full:Equity", "entity": "scheme:743700G7A9J1PHM3X223", "period": "2023-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:SharePremiumMember", "unit": "iso4217:EUR" } }, "ID_350AA": { "value": "-156000000", "decimals": -6, "dimensions": { "concept": "ifrs-full:Equity", "entity": "scheme:743700G7A9J1PHM3X223", "period": "2023-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:ReserveOfExchangeDifferencesOnTranslationMember", "unit": "iso4217:EUR" } }, "ID_351AA": { "value": "9000000", "decimals": -6, "dimensions": { "concept": "ifrs-full:Equity", "entity": "scheme:743700G7A9J1PHM3X223", "period": "2023-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:ReserveOfCashFlowHedgesMember", "unit": "iso4217:EUR" } }, "ID_352AA": { "value": "-5000000", "decimals": -6, "dimensions": { "concept": "ifrs-full:Equity", "entity": "scheme:743700G7A9J1PHM3X223", "period": "2023-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:ReserveOfRemeasurementsOfDefinedBenefitPlansMember", "unit": "iso4217:EUR" } }, "ID_374A": { "value": "1891000000", "decimals": -6, "dimensions": { "concept": "ifrs-full:Equity", "entity": "scheme:743700G7A9J1PHM3X223", "period": "2023-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:RetainedEarningsMember", "unit": "iso4217:EUR" } }, "ID_375A": { "value": "2136000000", "decimals": -6, "dimensions": { "concept": "ifrs-full:Equity", "entity": "scheme:743700G7A9J1PHM3X223", "period": "2023-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:EquityAttributableToOwnersOfParentMember", "unit": "iso4217:EUR" } }, "ID_355AA": { "value": "12000000", "decimals": -6, "dimensions": { "concept": "ifrs-full:Equity", "entity": "scheme:743700G7A9J1PHM3X223", "period": "2023-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:NoncontrollingInterestsMember", "unit": "iso4217:EUR" } }, "ID_166AA": { "value": "2148000000", "decimals": -6, "dimensions": { "concept": "ifrs-full:Equity", "entity": "scheme:743700G7A9J1PHM3X223", "period": "2023-01-01T00:00:00", "unit": "iso4217:EUR" } }, "ID_1": { "value": "
Majority
\u00a0
of
\u00a0
the
\u00a0
accounting
\u00a0
principles
\u00a0
applied
\u00a0
to
\u00a0
the
\u00a0
consolidated
\u00a0
financial
\u00a0
statements,
\u00a0
as
\u00a0
well
\u00a0
as
\u00a0
the
\u00a0
most
significant
\u00a0
judgements,
\u00a0
estimates,
\u00a0
and
\u00a0
assumptions
\u00a0
made
\u00a0
by
\u00a0
the
\u00a0
management,
\u00a0
are
\u00a0
presented
\u00a0
in
\u00a0
the
\u00a0
relevant
notes
\u00a0
to
\u00a0
provide
\u00a0
readers
\u00a0
a
\u00a0
better
\u00a0
understanding
\u00a0
of
\u00a0
the
\u00a0
financial
\u00a0
statements.
1.1.
\u00a0
ENTITY
\u00a0
INFORMATION
W\u00e4rtsil\u00e4 Corporation
\u00a0
is
\u00a0
a
\u00a0
Finnish
listed company
\u00a0
organised
\u00a0
under
\u00a0
the
\u00a0
laws
\u00a0
of
Finland
\u00a0
and
\u00a0
domiciled
\u00a0
in
Helsinki
.
The
\u00a0
address
\u00a0
of
\u00a0
its
\u00a0
registered
\u00a0
office
\u00a0
is
Hiililaiturinkuja 2, 00180 Helsinki
.
W\u00e4rtsil\u00e4 Corporation
\u00a0
is
\u00a0
the
\u00a0
ultimate
parent
\u00a0
company
\u00a0
in
\u00a0
the
\u00a0
W\u00e4rtsil\u00e4
\u00a0
Group.
W\u00e4rtsil\u00e4 is a global leader in innovative technologies and lifecycle solutions for the marine and energy markets.
By emphasising sustainable innovation, total efficiency and data analytics, W\u00e4rtsil\u00e4 maximises the
environmental and economic performance of the vessels and power plants of its customers.
In
\u00a0
2023,
W\u00e4rtsil\u00e4
\u2019s
\u00a0
net
\u00a0
sales
\u00a0
totalled
\u00a0
EUR
\u00a0
6.0
\u00a0
billion
\u00a0
with
\u00a0
17,807
\u00a0
employees.
\u00a0
The
\u00a0
company
\u00a0
has
\u00a0
operations
\u00a0
in
over
\u00a0
200
\u00a0
locations
\u00a0
in
\u00a0
80
\u00a0
countries
\u00a0
around
\u00a0
the
\u00a0
world.
\u00a0
W\u00e4rtsil\u00e4
\u00a0
is
\u00a0
listed
\u00a0
on
\u00a0
Nasdaq
\u00a0
Helsinki.
These
\u00a0
consolidated
\u00a0
financial
\u00a0
statements
\u00a0
were
\u00a0
authorised
\u00a0
for
\u00a0
release
\u00a0
by
\u00a0
the
\u00a0
Board
\u00a0
of
\u00a0
Directors
\u00a0
of
W\u00e4rtsil\u00e4
Corporation
\u00a0
on
\u00a0
30
\u00a0
January
\u00a0
2024,
\u00a0
after
\u00a0
which,
\u00a0
in
\u00a0
accordance
\u00a0
with
\u00a0
the
\u00a0
Finnish
\u00a0
Corporate
\u00a0
Act,
\u00a0
the
\u00a0
shareholders
have
\u00a0
a
\u00a0
right
\u00a0
to
\u00a0
approve
\u00a0
or
\u00a0
reject
\u00a0
the
\u00a0
financial
\u00a0
statements
\u00a0
in
\u00a0
the
\u00a0
Annual
\u00a0
General
\u00a0
Meeting.
\u00a0
The
\u00a0
Annual
\u00a0
General
Meeting
\u00a0
also
\u00a0
has
\u00a0
the
\u00a0
possibility
\u00a0
to
\u00a0
decide
\u00a0
upon
\u00a0
changes
\u00a0
to
\u00a0
the
\u00a0
financial
\u00a0
statements.
\u00a0
1.2.
\u00a0
BASIS
\u00a0
OF
\u00a0
PREPARATION
The
\u00a0
consolidated
\u00a0
financial
\u00a0
statements
\u00a0
are
\u00a0
prepared
\u00a0
in
\u00a0
accordance
\u00a0
with
\u00a0
international
\u00a0
accounting
\u00a0
standards,
which
\u00a0
were
\u00a0
in
\u00a0
force
\u00a0
on
\u00a0
31
\u00a0
December
\u00a0
2023.
\u00a0
International
\u00a0
accounting
\u00a0
standards
\u00a0
are
\u00a0
defined
\u00a0
in
\u00a0
EU
\u00a0
regulation
(EC)
\u00a0
No.
\u00a0
1606/2002
\u00a0
and
\u00a0
embodied
\u00a0
in
\u00a0
Finnish
\u00a0
accounting
\u00a0
legislation.
\u00a0
They
\u00a0
refer
\u00a0
to
\u00a0
IFRS\u00ae
\u00a0
Accounting
Standards,
\u00a0
IAS\u00ae
\u00a0
Standards,
\u00a0
SIC\u00ae
\u00a0
Interpretations
\u00a0
and
\u00a0
IFRIC\u00ae
\u00a0
Interpretations
\u00a0
developed
\u00a0
by
\u00a0
International
Accounting
\u00a0
Standards
\u00a0
Board
\u00a0
(IASB).
\u00a0
The
\u00a0
consolidated
\u00a0
financial
\u00a0
statements
\u00a0
also
\u00a0
comply
\u00a0
with
\u00a0
the
\u00a0
Finnish
corporate
\u00a0
legislation.
All
\u00a0
intragroup
\u00a0
transactions,
\u00a0
dividend
\u00a0
distributions,
\u00a0
receivables
\u00a0
and
\u00a0
liabilities,
\u00a0
as
\u00a0
well
\u00a0
as
\u00a0
unrealised
\u00a0
margins,
\u00a0
are
eliminated
\u00a0
in
\u00a0
the
\u00a0
consolidated
\u00a0
financial
\u00a0
statements.
\u00a0
In
\u00a0
the
\u00a0
consolidated
\u00a0
statements
\u00a0
of
\u00a0
income
\u00a0
and
comprehensive
\u00a0
income,
\u00a0
non-controlling
\u00a0
interests
\u00a0
have
\u00a0
been
\u00a0
separated
\u00a0
from
\u00a0
the
\u00a0
result
\u00a0
and
\u00a0
the
\u00a0
total
comprehensive
\u00a0
income
\u00a0
for
\u00a0
the
\u00a0
financial
\u00a0
period.
\u00a0
In
\u00a0
the
\u00a0
consolidated
\u00a0
statement
\u00a0
of
\u00a0
financial
\u00a0
position,
\u00a0
non-
controlling
\u00a0
interests
\u00a0
are
\u00a0
shown
\u00a0
as
\u00a0
a
\u00a0
separate
\u00a0
item
\u00a0
under
\u00a0
equity.
Reporting
\u00a0
is
\u00a0
based
\u00a0
on
\u00a0
the
\u00a0
historical
\u00a0
cost
\u00a0
convention.
\u00a0
Exceptions
\u00a0
are
\u00a0
the
\u00a0
financial
\u00a0
assets
\u00a0
and
\u00a0
liabilities
\u00a0
at
\u00a0
fair
value
\u00a0
through
\u00a0
the
\u00a0
statement
\u00a0
of
\u00a0
income,
\u00a0
the
\u00a0
assets
\u00a0
and
\u00a0
liabilities
\u00a0
arising
\u00a0
from
\u00a0
pension
\u00a0
plans,
\u00a0
hedged
\u00a0
items
under
\u00a0
fair
\u00a0
value
\u00a0
hedging,
\u00a0
the
\u00a0
cash-
\u00a0
and
\u00a0
share-settled
\u00a0
share-based
\u00a0
payment
\u00a0
transactions
\u00a0
measured
\u00a0
at
\u00a0
fair
value,
\u00a0
and
\u00a0
assets
\u00a0
held
\u00a0
for
\u00a0
sale
\u00a0
measured
\u00a0
at
\u00a0
the
\u00a0
lower
\u00a0
of
\u00a0
the
\u00a0
carrying
\u00a0
amount
\u00a0
and
\u00a0
the
\u00a0
fair
\u00a0
value
\u00a0
less
\u00a0
costs
\u00a0
to
sell.
\u00a0
The
\u00a0
figures
\u00a0
are
\u00a0
in
\u00a0
millions
\u00a0
of
\u00a0
euros
\u00a0
except
\u00a0
Note
\u00a0
7.2.
\u00a0
Related
\u00a0
party
\u00a0
disclosures,
\u00a0
which
\u00a0
is
\u00a0
presented
\u00a0
in
thousands
\u00a0
of
\u00a0
euros.
1.3.
\u00a0
NEW
\u00a0
AND
\u00a0
AMENDED
\u00a0
IFRS
\u00a0
ACCOUNTING
\u00a0
STANDARDS
In
\u00a0
2023,
\u00a0
the
\u00a0
Group
\u00a0
has
\u00a0
adopted
\u00a0
the
\u00a0
following
\u00a0
amended
\u00a0
Accounting
\u00a0
Standards
\u00a0
issued
\u00a0
by
\u00a0
IASB.
Disclosure
\u00a0
of
\u00a0
Accounting
\u00a0
policies
\u00a0
amends
\u00a0
IAS
\u00a0
1
\u00a0
Presentation
\u00a0
of
\u00a0
Financial
\u00a0
Statements
\u00a0
and
\u00a0
IFRS
\u00a0
Practice
Statement
\u00a0
2
\u00a0
(effective
\u00a0
for
\u00a0
financial
\u00a0
periods
\u00a0
beginning
\u00a0
on
\u00a0
or
\u00a0
after
\u00a0
1
\u00a0
January
\u00a0
2023).
\u00a0
The
\u00a0
amendments
\u00a0
to
\u00a0
IAS
\u00a0
1
require
\u00a0
companies
\u00a0
to
\u00a0
disclose
\u00a0
material
\u00a0
accounting
\u00a0
policy
\u00a0
information
\u00a0
instead
\u00a0
of
\u00a0
significant
\u00a0
accounting
\u00a0
policies.
The
\u00a0
amendments
\u00a0
to
\u00a0
IFRS
\u00a0
Practice
\u00a0
Statement
\u00a0
2
\u00a0
provide
\u00a0
guidance
\u00a0
on
\u00a0
how
\u00a0
to
\u00a0
apply
\u00a0
the
\u00a0
materiality
\u00a0
concept
\u00a0
to
accounting
\u00a0
policy
\u00a0
disclosures.
\u00a0
Impact
\u00a0
on
\u00a0
the
\u00a0
consolidated
\u00a0
financial
\u00a0
statements
\u00a0
is
\u00a0
not
\u00a0
significant.
Definition
\u00a0
of
\u00a0
Accounting
\u00a0
Estimates
\u00a0
amends
\u00a0
IAS
\u00a0
8
\u00a0
Accounting
\u00a0
Policies,
\u00a0
Changes
\u00a0
in
\u00a0
Accounting
\u00a0
Estimates
\u00a0
and
Errors
\u00a0
(effective
\u00a0
for
\u00a0
financial
\u00a0
periods
\u00a0
beginning
\u00a0
on
\u00a0
or
\u00a0
after
\u00a0
1
\u00a0
January
\u00a0
2023).
\u00a0
The
\u00a0
amendments
\u00a0
define
\u00a0
both
\u00a0
the
concept
\u00a0
of
\u00a0
accounting
\u00a0
estimates
\u00a0
and
\u00a0
changes
\u00a0
in
\u00a0
those.
\u00a0
Accounting
\u00a0
estimates
\u00a0
are
\u00a0
defined
\u00a0
as
\u00a0
monetary
amounts
\u00a0
in
\u00a0
financial
\u00a0
statements
\u00a0
that
\u00a0
are
\u00a0
subject
\u00a0
to
\u00a0
measurement
\u00a0
uncertainty.
\u00a0
In
\u00a0
addition,
\u00a0
the
\u00a0
amendments
provide
\u00a0
clarification
\u00a0
on
\u00a0
how
\u00a0
changes
\u00a0
in
\u00a0
accounting
\u00a0
estimates
\u00a0
differ
\u00a0
from
\u00a0
changes
\u00a0
in
\u00a0
accounting
\u00a0
policies
\u00a0
and
corrections
\u00a0
of
\u00a0
errors.
\u00a0
No
\u00a0
impact
\u00a0
on
\u00a0
the
\u00a0
consolidated
\u00a0
financial
\u00a0
statements.
Amendments
\u00a0
to
\u00a0
IAS
\u00a0
12
\u00a0
Income
\u00a0
Taxes
\u00a0
(effective
\u00a0
for
\u00a0
financial
\u00a0
periods
\u00a0
beginning
\u00a0
on
\u00a0
or
\u00a0
after
\u00a0
1
\u00a0
January
\u00a0
2023)
require
\u00a0
companies
\u00a0
to
\u00a0
recognise
\u00a0
deferred
\u00a0
tax
\u00a0
on
\u00a0
transactions
\u00a0
that,
\u00a0
on
\u00a0
initial
\u00a0
recognition
\u00a0
give
\u00a0
rise
\u00a0
to
\u00a0
equal
amounts
\u00a0
of
\u00a0
taxable
\u00a0
and
\u00a0
deductible
\u00a0
temporary
\u00a0
differences.
\u00a0
The
\u00a0
amendments
\u00a0
apply
\u00a0
to
\u00a0
transactions,
\u00a0
such
\u00a0
as
leases
\u00a0
and
\u00a0
decommissioning
\u00a0
obligations.
\u00a0
Due
\u00a0
to
\u00a0
the
\u00a0
amendments,
\u00a0
income
\u00a0
taxes,
\u00a0
as
\u00a0
well
\u00a0
as
\u00a0
deferred
\u00a0
taxes,
have
\u00a0
been
\u00a0
restated
\u00a0
in
\u00a0
the
\u00a0
financial
\u00a0
statements
\u00a0
for
\u00a0
comparison
\u00a0
period
\u00a0
2022.
\u00a0
Impact
\u00a0
on
\u00a0
the
\u00a0
consolidated
financial
\u00a0
statements
\u00a0
is
\u00a0
not
\u00a0
significant.
IFRS
\u00a0
17
\u00a0
Insurance
\u00a0
Contracts
\u00a0
(effective
\u00a0
for
\u00a0
financial
\u00a0
periods
\u00a0
beginning
\u00a0
on
\u00a0
or
\u00a0
after
\u00a0
1
\u00a0
January
\u00a0
2023)
\u00a0
applies
\u00a0
to
\u00a0
all
types
\u00a0
of
\u00a0
insurance
\u00a0
contracts
\u00a0
(direct
\u00a0
insurance
\u00a0
and
\u00a0
re-insurance)
\u00a0
regardless
\u00a0
of
\u00a0
the
\u00a0
type
\u00a0
of
\u00a0
entities
\u00a0
that
\u00a0
issue
them,
\u00a0
as
\u00a0
well
\u00a0
as
\u00a0
to
\u00a0
certain
\u00a0
guarantees
\u00a0
and
\u00a0
financial
\u00a0
instruments
\u00a0
with
\u00a0
discretionary
\u00a0
participation
\u00a0
features.
\u00a0
The
overall
\u00a0
objective
\u00a0
is
\u00a0
to
\u00a0
provide
\u00a0
a
\u00a0
consistent
\u00a0
accounting
\u00a0
model
\u00a0
for
\u00a0
insurance
\u00a0
contracts.
\u00a0
Impact
\u00a0
on
\u00a0
the
consolidated
\u00a0
financial
\u00a0
statements
\u00a0
is
\u00a0
not
\u00a0
significant.
International
\u00a0
Tax
\u00a0
Reform
\u00a0
-
\u00a0
Pillar
\u00a0
Two
\u00a0
Model
\u00a0
Rules
\u00a0
amends
\u00a0
IAS
\u00a0
12
\u00a0
Income
\u00a0
Taxes
\u00a0
(effective
\u00a0
upon
\u00a0
issuance
\u00a0
in
May
\u00a0
2023,
\u00a0
but
\u00a0
certain
\u00a0
disclosure
\u00a0
requirements
\u00a0
are
\u00a0
effective
\u00a0
later).
\u00a0
The
\u00a0
amendments
\u00a0
introduce
\u00a0
a
\u00a0
mandatory
exception
\u00a0
for
\u00a0
recognising
\u00a0
and
\u00a0
disclosing
\u00a0
deferred
\u00a0
tax
\u00a0
assets
\u00a0
and
\u00a0
liabilities
\u00a0
related
\u00a0
to
\u00a0
Pillar
\u00a0
Two
\u00a0
income
\u00a0
taxes.
An
\u00a0
entity
\u00a0
is
\u00a0
required
\u00a0
to
\u00a0
separately
\u00a0
disclose
\u00a0
its
\u00a0
current
\u00a0
tax
\u00a0
expense
\u00a0
or
\u00a0
income
\u00a0
related
\u00a0
to
\u00a0
Pillar
\u00a0
Two
\u00a0
income
taxes.
\u00a0
Impact
\u00a0
on
\u00a0
the
\u00a0
consolidated
\u00a0
financial
\u00a0
statements
\u00a0
is
\u00a0
not
\u00a0
significant.
Other
\u00a0
new
\u00a0
or
\u00a0
amended
\u00a0
Accounting
\u00a0
Standards
\u00a0
already
\u00a0
effective
\u00a0
do
\u00a0
not
\u00a0
have
\u00a0
a
\u00a0
significant
\u00a0
impact
\u00a0
on
\u00a0
the
consolidated
\u00a0
financial
\u00a0
statements
\u00a0
or
\u00a0
other
\u00a0
disclosures.
In
\u00a0
2024
\u00a0
or
\u00a0
later,
\u00a0
the
\u00a0
Group
\u00a0
will
\u00a0
adopt
\u00a0
the
\u00a0
following
\u00a0
new
\u00a0
or
\u00a0
amended
\u00a0
Accounting
\u00a0
Standards
\u00a0
issued
\u00a0
by
\u00a0
IASB.
Amendments
\u00a0
to
\u00a0
IAS
\u00a0
1
\u00a0
Presentation
\u00a0
of
\u00a0
Financial
\u00a0
Statements
\u00a0
(effective
\u00a0
for
\u00a0
financial
\u00a0
periods
\u00a0
beginning
\u00a0
on
\u00a0
or
\u00a0
after
1
\u00a0
January
\u00a0
2024)
\u00a0
clarify
\u00a0
that
\u00a0
liabilities
\u00a0
are
\u00a0
classified
\u00a0
as
\u00a0
either
\u00a0
current
\u00a0
or
\u00a0
non-current,
\u00a0
depending
\u00a0
on
\u00a0
the
\u00a0
rights
that
\u00a0
exist
\u00a0
at
\u00a0
the
\u00a0
end
\u00a0
of
\u00a0
the
\u00a0
reporting
\u00a0
period.
\u00a0
Classification
\u00a0
is
\u00a0
unaffected
\u00a0
by
\u00a0
the
\u00a0
expectations
\u00a0
of
\u00a0
the
\u00a0
entity
\u00a0
or
events
\u00a0
after
\u00a0
the
\u00a0
reporting
\u00a0
date.
\u00a0
The
\u00a0
amendments
\u00a0
will
\u00a0
have
\u00a0
no
\u00a0
impact
\u00a0
on
\u00a0
the
\u00a0
consolidated
\u00a0
financial
\u00a0
statements.
Amendments
\u00a0
to
\u00a0
IFRS
\u00a0
16
\u00a0
Leases
\u00a0
(effective
\u00a0
for
\u00a0
financial
\u00a0
periods
\u00a0
beginning
\u00a0
on
\u00a0
or
\u00a0
after
\u00a0
1
\u00a0
January
\u00a0
2024)
\u00a0
specify
the
\u00a0
requirements
\u00a0
that
\u00a0
a
\u00a0
seller-lessee
\u00a0
uses
\u00a0
in
\u00a0
measuring
\u00a0
the
\u00a0
lease
\u00a0
liability
\u00a0
arising
\u00a0
in
\u00a0
a
\u00a0
sale
\u00a0
and
\u00a0
leaseback
transaction.
\u00a0
The
\u00a0
amendments
\u00a0
will
\u00a0
have
\u00a0
no
\u00a0
impact
\u00a0
on
\u00a0
the
\u00a0
consolidated
\u00a0
financial
\u00a0
statements.
Supplier
\u00a0
Finance
\u00a0
Arrangements*
\u00a0
amends
\u00a0
IAS
\u00a0
7
\u00a0
Statement
\u00a0
of
\u00a0
Cash
\u00a0
Flows
\u00a0
and
\u00a0
IFRS
\u00a0
7
\u00a0
Financial
\u00a0
Instruments:
Disclosures.
\u00a0
The
\u00a0
amendments
\u00a0
increase
\u00a0
the
\u00a0
transparency
\u00a0
of
\u00a0
supplier
\u00a0
finance
\u00a0
arrangements
\u00a0
and
\u00a0
their
\u00a0
effects
\u00a0
on
liabilities,
\u00a0
cash
\u00a0
flows
\u00a0
and
\u00a0
exposure
\u00a0
to
\u00a0
liquidity
\u00a0
risk.
\u00a0
The
\u00a0
amendments
\u00a0
merely
\u00a0
increase
\u00a0
the
\u00a0
amount
\u00a0
of
\u00a0
disclosed
information.
Lack
\u00a0
of
\u00a0
Exchangeability*
\u00a0
amends
\u00a0
IAS
\u00a0
21
\u00a0
The
\u00a0
Effects
\u00a0
of
\u00a0
Changes
\u00a0
in
\u00a0
Foreign
\u00a0
Exchange
\u00a0
Rates.
\u00a0
The
\u00a0
amendment
specifies
\u00a0
how
\u00a0
an
\u00a0
entity
\u00a0
should
\u00a0
assess
\u00a0
whether
\u00a0
a
\u00a0
currency
\u00a0
is
\u00a0
exchangeable
\u00a0
and
\u00a0
how
\u00a0
it
\u00a0
should
\u00a0
determine
\u00a0
a
\u00a0
spot
\u00a0
\n
exchange
\u00a0
rate
\u00a0
when
\u00a0
exchangeability
\u00a0
is
\u00a0
lacking.
\u00a0
If
\u00a0
a
\u00a0
currency
\u00a0
is
\u00a0
not
\u00a0
exchangeable
\u00a0
into
\u00a0
another
\u00a0
currency,
\u00a0
an
entity
\u00a0
is
\u00a0
required
\u00a0
to
\u00a0
estimate
\u00a0
the
\u00a0
spot
\u00a0
exchange
\u00a0
rate
\u00a0
at
\u00a0
the
\u00a0
measurement
\u00a0
date.
\u00a0
The
\u00a0
amendments
\u00a0
will
\u00a0
have
\u00a0
no
impact
\u00a0
on
\u00a0
the
\u00a0
consolidated
\u00a0
financial
\u00a0
statements.
Other
\u00a0
new
\u00a0
or
\u00a0
amended
\u00a0
Accounting
\u00a0
Standards
\u00a0
not
\u00a0
yet
\u00a0
effective
\u00a0
are
\u00a0
not
\u00a0
expected
\u00a0
to
\u00a0
have
\u00a0
a
\u00a0
significant
\u00a0
impact
\u00a0
on
the
\u00a0
consolidated
\u00a0
financial
\u00a0
statements
\u00a0
or
\u00a0
other
\u00a0
disclosures.
*
\u00a0
Not
\u00a0
yet
\u00a0
endorsed
\u00a0
for
\u00a0
adoption
\u00a0
by
\u00a0
the
\u00a0
European
\u00a0
Commission
\u00a0
as
\u00a0
of
\u00a0
31
\u00a0
December
\u00a0
2023.
1.4.
\u00a0
MANAGEMENT
\u00a0
JUDGEMENT
\u00a0
AND
\u00a0
USE
\u00a0
OF
\u00a0
ESTIMATES
Preparation
\u00a0
of
\u00a0
the
\u00a0
financial
\u00a0
statements
\u00a0
in
\u00a0
accordance
\u00a0
with
\u00a0
the
\u00a0
IFRS
\u00a0
Accounting
\u00a0
Standards
\u00a0
requires
management
\u00a0
to
\u00a0
make
\u00a0
judgements,
\u00a0
estimates,
\u00a0
and
\u00a0
assumptions
\u00a0
that
\u00a0
affect
\u00a0
the
\u00a0
valuation
\u00a0
of
\u00a0
the
\u00a0
reported
\u00a0
assets
and
\u00a0
liabilities,
\u00a0
as
\u00a0
well
\u00a0
as
\u00a0
other
\u00a0
information,
\u00a0
such
\u00a0
as
\u00a0
contingent
\u00a0
assets
\u00a0
and
\u00a0
liabilities
\u00a0
and
\u00a0
the
\u00a0
recognition
\u00a0
of
income
\u00a0
and
\u00a0
expenses
\u00a0
in
\u00a0
the
\u00a0
statement
\u00a0
of
\u00a0
income.
\u00a0
Although
\u00a0
these
\u00a0
continuously
\u00a0
evaluated
\u00a0
judgements,
estimates,
\u00a0
and
\u00a0
assumptions
\u00a0
are
\u00a0
based
\u00a0
on
\u00a0
management\u2019s
\u00a0
past
\u00a0
experience
\u00a0
and
\u00a0
best
\u00a0
knowledge
\u00a0
of
\u00a0
current
events
\u00a0
and
\u00a0
actions,
\u00a0
as
\u00a0
well
\u00a0
as
\u00a0
expectations
\u00a0
of
\u00a0
future
\u00a0
events,
\u00a0
actual
\u00a0
results
\u00a0
may
\u00a0
differ
\u00a0
from
\u00a0
the
\u00a0
estimates.
For
\u00a0
W\u00e4rtsil\u00e4,
\u00a0
the
\u00a0
most
\u00a0
significant
\u00a0
judgements,
\u00a0
estimates,
\u00a0
and
\u00a0
assumptions
\u00a0
made
\u00a0
by
\u00a0
the
\u00a0
management
\u00a0
relate
\u00a0
to
the
\u00a0
items
\u00a0
listed
\u00a0
below,
\u00a0
more
\u00a0
information
\u00a0
can
\u00a0
be
\u00a0
found
\u00a0
in
\u00a0
the
\u00a0
corresponding
\u00a0
note:
-
\u00a0
revenue
\u00a0
recognition,
\u00a0
especially
\u00a0
project
\u00a0
estimates
\u00a0
for
\u00a0
long-term
\u00a0
projects
\u00a0
and
\u00a0
agreements
\u00a0
(Note
\u00a0
2.2.
Revenue
\u00a0
recognition),
-
\u00a0
uncertain
\u00a0
tax
\u00a0
positions
\u00a0
(Note
\u00a0
2.6.
\u00a0
Income
\u00a0
taxes),
-
\u00a0
impairment
\u00a0
testing
\u00a0
(Note
\u00a0
3.1.
\u00a0
Goodwill),
-
\u00a0
estimating
\u00a0
useful
\u00a0
lives
\u00a0
and
\u00a0
assessing
\u00a0
indication
\u00a0
of
\u00a0
impairment
\u00a0
(Notes
\u00a0
3.2.
\u00a0
Other
\u00a0
intangible
\u00a0
assets
\u00a0
and
3.3.
\u00a0
Property,
\u00a0
plant
\u00a0
and
\u00a0
equipment),
-
\u00a0
determining
\u00a0
the
\u00a0
length
\u00a0
of
\u00a0
lease
\u00a0
terms
\u00a0
(Note
\u00a0
3.4.
\u00a0
Leases),
-
\u00a0
valuation
\u00a0
of
\u00a0
inventories
\u00a0
(Note
\u00a0
4.1.
\u00a0
Inventories),
-
\u00a0
valuation
\u00a0
of
\u00a0
trade
\u00a0
receivables
\u00a0
(Note
\u00a0
4.2.
\u00a0
Trade
\u00a0
receivables
\u00a0
and
\u00a0
contract
\u00a0
assets
\u00a0
and
\u00a0
liabilities),
-
\u00a0
recognition
\u00a0
of
\u00a0
warranty
\u00a0
provisions
\u00a0
and
\u00a0
provisions
\u00a0
for
\u00a0
legal
\u00a0
cases
\u00a0
(Note
\u00a0
4.5.
\u00a0
Provisions),
-
\u00a0
expected
\u00a0
results
\u00a0
on
\u00a0
tax
\u00a0
audits
\u00a0
and
\u00a0
deferred
\u00a0
tax
\u00a0
assets
\u00a0
from
\u00a0
tax
\u00a0
losses
\u00a0
(Note
\u00a0
4.6.
\u00a0
Deferred
\u00a0
taxes),
\u00a0
and
-
\u00a0
defined
\u00a0
pension
\u00a0
benefit
\u00a0
obligations
\u00a0
(Note
\u00a0
4.7.
\u00a0
Pension
\u00a0
obligations),
In
\u00a0
addition,
\u00a0
accounting
\u00a0
for
\u00a0
business
\u00a0
combinations
\u00a0
may
\u00a0
require
\u00a0
significant
\u00a0
management
\u00a0
judgement
\u00a0
(Note
\u00a0
6.2.
Acquisitions).
", "dimensions": { "concept": "ifrs-full:DisclosureOfBasisOfPreparationOfFinancialStatementsExplanatory", "language": "en", "entity": "scheme:743700G7A9J1PHM3X223", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00" } }, "ID_2": { "value": "W\u00e4rtsil\u00e4 Corporation", "dimensions": { "concept": "ifrs-full:NameOfReportingEntityOrOtherMeansOfIdentification", "language": "en", "entity": "scheme:743700G7A9J1PHM3X223", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00" } }, "ID_3": { "value": "listed company", "dimensions": { "concept": "ifrs-full:LegalFormOfEntity", "language": "en", "entity": "scheme:743700G7A9J1PHM3X223", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00" } }, "ID_4": { "value": "Finland", "dimensions": { "concept": "ifrs-full:CountryOfIncorporation", "language": "en", "entity": "scheme:743700G7A9J1PHM3X223", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00" } }, "ID_5": { "value": "Helsinki", "dimensions": { "concept": "ifrs-full:DomicileOfEntity", "language": "en", "entity": "scheme:743700G7A9J1PHM3X223", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00" } }, "ID_6": { "value": "Hiililaiturinkuja 2, 00180 Helsinki", "dimensions": { "concept": "ifrs-full:AddressOfRegisteredOfficeOfEntity", "language": "en", "entity": "scheme:743700G7A9J1PHM3X223", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00" } }, "ID_7": { "value": "W\u00e4rtsil\u00e4 Corporation", "dimensions": { "concept": "ifrs-full:NameOfUltimateParentOfGroup", "language": "en", "entity": "scheme:743700G7A9J1PHM3X223", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00" } }, "ID_8": { "value": "W\u00e4rtsil\u00e4 is a global leader in innovative technologies and lifecycle solutions for the marine and energy markets. By emphasising sustainable innovation, total efficiency and data analytics, W\u00e4rtsil\u00e4 maximises the environmental and economic performance of the vessels and power plants of its customers.", "dimensions": { "concept": "ifrs-full:DescriptionOfNatureOfEntitysOperationsAndPrincipalActivities", "language": "en", "entity": "scheme:743700G7A9J1PHM3X223", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00" } }, "ID_9": { "value": "W\u00e4rtsil\u00e4", "dimensions": { "concept": "ifrs-full:ExplanationOfChangeInNameOfReportingEntityOrOtherMeansOfIdentificationFromEndOfPrecedingReportingPeriod", "language": "en", "entity": "scheme:743700G7A9J1PHM3X223", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00" } }, "ID_10": { "value": "
These
\u00a0
consolidated
\u00a0
financial
\u00a0
statements
\u00a0
were
\u00a0
authorised
\u00a0
for
\u00a0
release
\u00a0
by
\u00a0
the
\u00a0
Board
\u00a0
of
\u00a0
Directors
\u00a0
of
W\u00e4rtsil\u00e4
Corporation
\u00a0
on
\u00a0
30
\u00a0
January
\u00a0
2024,
\u00a0
after
\u00a0
which,
\u00a0
in
\u00a0
accordance
\u00a0
with
\u00a0
the
\u00a0
Finnish
\u00a0
Corporate
\u00a0
Act,
\u00a0
the
\u00a0
shareholders
have
\u00a0
a
\u00a0
right
\u00a0
to
\u00a0
approve
\u00a0
or
\u00a0
reject
\u00a0
the
\u00a0
financial
\u00a0
statements
\u00a0
in
\u00a0
the
\u00a0
Annual
\u00a0
General
\u00a0
Meeting.
\u00a0
The
\u00a0
Annual
\u00a0
General
Meeting
\u00a0
also
\u00a0
has
\u00a0
the
\u00a0
possibility
\u00a0
to
\u00a0
decide
\u00a0
upon
\u00a0
changes
\u00a0
to
\u00a0
the
\u00a0
financial
\u00a0
statements.
", "dimensions": { "concept": "ifrs-full:DisclosureOfAuthorisationOfFinancialStatementsExplanatory", "language": "en", "entity": "scheme:743700G7A9J1PHM3X223", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00" } }, "ID_11": { "value": "W\u00e4rtsil\u00e4 Corporation", "dimensions": { "concept": "ifrs-full:NameOfParentEntity", "language": "en", "entity": "scheme:743700G7A9J1PHM3X223", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00" } }, "ID_12": { "value": "
The
\u00a0
consolidated
\u00a0
financial
\u00a0
statements
\u00a0
are
\u00a0
prepared
\u00a0
in
\u00a0
accordance
\u00a0
with
\u00a0
international
\u00a0
accounting
\u00a0
standards,
which
\u00a0
were
\u00a0
in
\u00a0
force
\u00a0
on
\u00a0
31
\u00a0
December
\u00a0
2023.
\u00a0
International
\u00a0
accounting
\u00a0
standards
\u00a0
are
\u00a0
defined
\u00a0
in
\u00a0
EU
\u00a0
regulation
(EC)
\u00a0
No.
\u00a0
1606/2002
\u00a0
and
\u00a0
embodied
\u00a0
in
\u00a0
Finnish
\u00a0
accounting
\u00a0
legislation.
\u00a0
They
\u00a0
refer
\u00a0
to
\u00a0
IFRS\u00ae
\u00a0
Accounting
Standards,
\u00a0
IAS\u00ae
\u00a0
Standards,
\u00a0
SIC\u00ae
\u00a0
Interpretations
\u00a0
and
\u00a0
IFRIC\u00ae
\u00a0
Interpretations
\u00a0
developed
\u00a0
by
\u00a0
International
Accounting
\u00a0
Standards
\u00a0
Board
\u00a0
(IASB).
\u00a0
The
\u00a0
consolidated
\u00a0
financial
\u00a0
statements
\u00a0
also
\u00a0
comply
\u00a0
with
\u00a0
the
\u00a0
Finnish
corporate
\u00a0
legislation.
", "dimensions": { "concept": "ifrs-full:StatementOfIFRSCompliance", "language": "en", "entity": "scheme:743700G7A9J1PHM3X223", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00" } }, "ID_13": { "value": "
1.4.
\u00a0
MANAGEMENT
\u00a0
JUDGEMENT
\u00a0
AND
\u00a0
USE
\u00a0
OF
\u00a0
ESTIMATES
Preparation
\u00a0
of
\u00a0
the
\u00a0
financial
\u00a0
statements
\u00a0
in
\u00a0
accordance
\u00a0
with
\u00a0
the
\u00a0
IFRS
\u00a0
Accounting
\u00a0
Standards
\u00a0
requires
management
\u00a0
to
\u00a0
make
\u00a0
judgements,
\u00a0
estimates,
\u00a0
and
\u00a0
assumptions
\u00a0
that
\u00a0
affect
\u00a0
the
\u00a0
valuation
\u00a0
of
\u00a0
the
\u00a0
reported
\u00a0
assets
and
\u00a0
liabilities,
\u00a0
as
\u00a0
well
\u00a0
as
\u00a0
other
\u00a0
information,
\u00a0
such
\u00a0
as
\u00a0
contingent
\u00a0
assets
\u00a0
and
\u00a0
liabilities
\u00a0
and
\u00a0
the
\u00a0
recognition
\u00a0
of
income
\u00a0
and
\u00a0
expenses
\u00a0
in
\u00a0
the
\u00a0
statement
\u00a0
of
\u00a0
income.
\u00a0
Although
\u00a0
these
\u00a0
continuously
\u00a0
evaluated
\u00a0
judgements,
estimates,
\u00a0
and
\u00a0
assumptions
\u00a0
are
\u00a0
based
\u00a0
on
\u00a0
management\u2019s
\u00a0
past
\u00a0
experience
\u00a0
and
\u00a0
best
\u00a0
knowledge
\u00a0
of
\u00a0
current
events
\u00a0
and
\u00a0
actions,
\u00a0
as
\u00a0
well
\u00a0
as
\u00a0
expectations
\u00a0
of
\u00a0
future
\u00a0
events,
\u00a0
actual
\u00a0
results
\u00a0
may
\u00a0
differ
\u00a0
from
\u00a0
the
\u00a0
estimates.
For
\u00a0
W\u00e4rtsil\u00e4,
\u00a0
the
\u00a0
most
\u00a0
significant
\u00a0
judgements,
\u00a0
estimates,
\u00a0
and
\u00a0
assumptions
\u00a0
made
\u00a0
by
\u00a0
the
\u00a0
management
\u00a0
relate
\u00a0
to
the
\u00a0
items
\u00a0
listed
\u00a0
below,
\u00a0
more
\u00a0
information
\u00a0
can
\u00a0
be
\u00a0
found
\u00a0
in
\u00a0
the
\u00a0
corresponding
\u00a0
note:
-
\u00a0
revenue
\u00a0
recognition,
\u00a0
especially
\u00a0
project
\u00a0
estimates
\u00a0
for
\u00a0
long-term
\u00a0
projects
\u00a0
and
\u00a0
agreements
\u00a0
(Note
\u00a0
2.2.
Revenue
\u00a0
recognition),
-
\u00a0
uncertain
\u00a0
tax
\u00a0
positions
\u00a0
(Note
\u00a0
2.6.
\u00a0
Income
\u00a0
taxes),
-
\u00a0
impairment
\u00a0
testing
\u00a0
(Note
\u00a0
3.1.
\u00a0
Goodwill),
-
\u00a0
estimating
\u00a0
useful
\u00a0
lives
\u00a0
and
\u00a0
assessing
\u00a0
indication
\u00a0
of
\u00a0
impairment
\u00a0
(Notes
\u00a0
3.2.
\u00a0
Other
\u00a0
intangible
\u00a0
assets
\u00a0
and
3.3.
\u00a0
Property,
\u00a0
plant
\u00a0
and
\u00a0
equipment),
-
\u00a0
determining
\u00a0
the
\u00a0
length
\u00a0
of
\u00a0
lease
\u00a0
terms
\u00a0
(Note
\u00a0
3.4.
\u00a0
Leases),
-
\u00a0
valuation
\u00a0
of
\u00a0
inventories
\u00a0
(Note
\u00a0
4.1.
\u00a0
Inventories),
-
\u00a0
valuation
\u00a0
of
\u00a0
trade
\u00a0
receivables
\u00a0
(Note
\u00a0
4.2.
\u00a0
Trade
\u00a0
receivables
\u00a0
and
\u00a0
contract
\u00a0
assets
\u00a0
and
\u00a0
liabilities),
-
\u00a0
recognition
\u00a0
of
\u00a0
warranty
\u00a0
provisions
\u00a0
and
\u00a0
provisions
\u00a0
for
\u00a0
legal
\u00a0
cases
\u00a0
(Note
\u00a0
4.5.
\u00a0
Provisions),
-
\u00a0
expected
\u00a0
results
\u00a0
on
\u00a0
tax
\u00a0
audits
\u00a0
and
\u00a0
deferred
\u00a0
tax
\u00a0
assets
\u00a0
from
\u00a0
tax
\u00a0
losses
\u00a0
(Note
\u00a0
4.6.
\u00a0
Deferred
\u00a0
taxes),
\u00a0
and
-
\u00a0
defined
\u00a0
pension
\u00a0
benefit
\u00a0
obligations
\u00a0
(Note
\u00a0
4.7.
\u00a0
Pension
\u00a0
obligations),
In
\u00a0
addition,
\u00a0
accounting
\u00a0
for
\u00a0
business
\u00a0
combinations
\u00a0
may
\u00a0
require
\u00a0
significant
\u00a0
management
\u00a0
judgement
\u00a0
(Note
\u00a0
6.2.
Acquisitions).
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
Accounting
\u00a0
estimates
\u00a0
and
\u00a0
judgements
Revenue
\u00a0
from
\u00a0
certain
\u00a0
projects
\u00a0
and
\u00a0
long-term
\u00a0
agreements
\u00a0
is
\u00a0
recognised
\u00a0
over
\u00a0
time
\u00a0
according
\u00a0
to
\u00a0
the
\u00a0
input
method
\u00a0
when
\u00a0
the
\u00a0
profit
\u00a0
on
\u00a0
the
\u00a0
project
\u00a0
or
\u00a0
agreement
\u00a0
can
\u00a0
be
\u00a0
reliably
\u00a0
determined.
\u00a0
The
\u00a0
progress
\u00a0
and
\u00a0
the
profitability
\u00a0
are
\u00a0
based
\u00a0
on
\u00a0
management\u2019s
\u00a0
estimates,
\u00a0
which
\u00a0
require
\u00a0
significant
\u00a0
judgement
\u00a0
concerning
\u00a0
the
stage
\u00a0
of
\u00a0
completion,
\u00a0
the
\u00a0
cost
\u00a0
to
\u00a0
complete,
\u00a0
and
\u00a0
the
\u00a0
time
\u00a0
of
\u00a0
completion.
\u00a0
These
\u00a0
estimates
\u00a0
are
\u00a0
reviewed
regularly.
\u00a0
Revenue
\u00a0
and
\u00a0
costs
\u00a0
recognised
\u00a0
are
\u00a0
adjusted
\u00a0
during
\u00a0
the
\u00a0
project
\u00a0
when
\u00a0
assumptions
\u00a0
concerning
\u00a0
the
outcome
\u00a0
of
\u00a0
the
\u00a0
entire
\u00a0
project
\u00a0
are
\u00a0
updated.
\u00a0
Changes
\u00a0
in
\u00a0
assumptions
\u00a0
relate
\u00a0
to
\u00a0
changes
\u00a0
in
\u00a0
the
\u00a0
project\u2019s
\u00a0
or
agreement\u2019s
\u00a0
schedule,
\u00a0
the
\u00a0
scope
\u00a0
of
\u00a0
supply,
\u00a0
technology,
\u00a0
costs,
\u00a0
and
\u00a0
any
\u00a0
other
\u00a0
relevant
\u00a0
factors.
Establishing
\u00a0
whether
\u00a0
distinct
\u00a0
goods
\u00a0
or
\u00a0
services
\u00a0
are
\u00a0
considered
\u00a0
as
\u00a0
separate
\u00a0
performance
\u00a0
obligations
requires
\u00a0
judgement
\u00a0
and
\u00a0
might
\u00a0
impact
\u00a0
the
\u00a0
timing
\u00a0
and
\u00a0
amount
\u00a0
of
\u00a0
revenue
\u00a0
recognition.
Project
\u00a0
business
\u00a0
contracts
\u00a0
usually
\u00a0
involve
\u00a0
elements
\u00a0
of
\u00a0
variable
\u00a0
consideration.
\u00a0
At
\u00a0
the
\u00a0
end
\u00a0
of
\u00a0
each
\u00a0
reporting
period,
\u00a0
management
\u00a0
reassesses
\u00a0
the
\u00a0
transaction
\u00a0
price,
\u00a0
which
\u00a0
requires
\u00a0
significant
\u00a0
judgement
\u00a0
as
\u00a0
it
\u00a0
affects
\u00a0
the
timing
\u00a0
of
\u00a0
the
\u00a0
revenue
\u00a0
recognition.
\u00a0
The
\u00a0
valuation
\u00a0
of
\u00a0
accounts
\u00a0
receivables
\u00a0
also
\u00a0
includes
\u00a0
estimates
\u00a0
mainly
concerning
\u00a0
the
\u00a0
recoverability
\u00a0
of
\u00a0
receivables.
Determining
\u00a0
whether
\u00a0
different
\u00a0
contracts
\u00a0
with
\u00a0
the
\u00a0
same
\u00a0
customer
\u00a0
are
\u00a0
accounted
\u00a0
for
\u00a0
as
\u00a0
one
\u00a0
contract
\u00a0
involves
the
\u00a0
use
\u00a0
of
\u00a0
judgement,
\u00a0
as
\u00a0
it
\u00a0
requires
\u00a0
an
\u00a0
assessment
\u00a0
of
\u00a0
whether
\u00a0
the
\u00a0
contracts
\u00a0
are
\u00a0
negotiated
\u00a0
together
\u00a0
or
linked
\u00a0
in
\u00a0
any
\u00a0
other
\u00a0
way.
\u00a0
The
\u00a0
timing
\u00a0
and
\u00a0
amount
\u00a0
of
\u00a0
revenue
\u00a0
recognition
\u00a0
can
\u00a0
vary
\u00a0
depending
\u00a0
on
\u00a0
whether
\u00a0
two
contracts
\u00a0
are
\u00a0
accounted
\u00a0
for
\u00a0
separately,
\u00a0
or
\u00a0
as
\u00a0
one
\u00a0
single
\u00a0
arrangement.
Warranty
\u00a0
provisions
\u00a0
are
\u00a0
recognised
\u00a0
when
\u00a0
goods
\u00a0
and
\u00a0
services
\u00a0
have
\u00a0
been
\u00a0
rendered
\u00a0
to
\u00a0
the
\u00a0
customer.
\u00a0
The
provision
\u00a0
is
\u00a0
based
\u00a0
on
\u00a0
the
\u00a0
accumulated
\u00a0
experience
\u00a0
of
\u00a0
the
\u00a0
level
\u00a0
of
\u00a0
warranty
\u00a0
needed
\u00a0
to
\u00a0
manage
\u00a0
future
\u00a0
and
current
\u00a0
cost
\u00a0
claims.
\u00a0
Products
\u00a0
can
\u00a0
contain
\u00a0
new
\u00a0
and
\u00a0
complex
\u00a0
technology
\u00a0
that
\u00a0
can
\u00a0
affect
\u00a0
warranty
\u00a0
estimates,
with
\u00a0
the
\u00a0
result
\u00a0
that
\u00a0
earlier
\u00a0
recognised
\u00a0
provisions
\u00a0
are
\u00a0
not
\u00a0
always
\u00a0
sufficient.
Accounting
\u00a0
estimates
\u00a0
and
\u00a0
judgements
The
\u00a0
Group
\u00a0
is
\u00a0
subject
\u00a0
to
\u00a0
income
\u00a0
taxes
\u00a0
in
\u00a0
several
\u00a0
jurisdictions
\u00a0
and
\u00a0
the
\u00a0
computation
\u00a0
of
\u00a0
the
\u00a0
Group\u00b4s
\u00a0
income
\u00a0
tax
expense
\u00a0
and
\u00a0
income
\u00a0
tax
\u00a0
liabilities
\u00a0
require
\u00a0
judgement
\u00a0
and
\u00a0
estimation.
\u00a0
Income
\u00a0
tax
\u00a0
positions
\u00a0
are
\u00a0
regularly
evaluated
\u00a0
by
\u00a0
management
\u00a0
to
\u00a0
identify
\u00a0
situations
\u00a0
when
\u00a0
there
\u00a0
might
\u00a0
be
\u00a0
uncertainty
\u00a0
due
\u00a0
to
\u00a0
tax
\u00a0
regulation
\u00a0
being
subject
\u00a0
to
\u00a0
interpretation.
\u00a0
Provisions
\u00a0
for
\u00a0
these
\u00a0
uncertain
\u00a0
tax
\u00a0
positions
\u00a0
are
\u00a0
recognised
\u00a0
when
\u00a0
it
\u00a0
is
\u00a0
considered
more
\u00a0
likely
\u00a0
than
\u00a0
not
\u00a0
that
\u00a0
the
\u00a0
positions
\u00a0
will
\u00a0
be
\u00a0
challenged
\u00a0
by
\u00a0
the
\u00a0
tax
\u00a0
authorities.
\u00a0
The
\u00a0
provision
\u00a0
recognised
\u00a0
is
based
\u00a0
on
\u00a0
the
\u00a0
estimation
\u00a0
of
\u00a0
the
\u00a0
amount
\u00a0
of
\u00a0
the
\u00a0
final
\u00a0
taxes
\u00a0
to
\u00a0
be
\u00a0
paid
\u00a0
to
\u00a0
the
\u00a0
tax
\u00a0
authorities.
Accounting
\u00a0
estimates
\u00a0
and
\u00a0
judgements
The
\u00a0
recoverable
\u00a0
amounts
\u00a0
of
\u00a0
goodwill
\u00a0
are
\u00a0
determined
\u00a0
for
\u00a0
all
\u00a0
cash
\u00a0
generating
\u00a0
units
\u00a0
annually,
\u00a0
or
\u00a0
more
\u00a0
often
\u00a0
if
there
\u00a0
is
\u00a0
an
\u00a0
indication
\u00a0
of
\u00a0
an
\u00a0
impairment,
\u00a0
where
\u00a0
its
\u00a0
value
\u00a0
in
\u00a0
use
\u00a0
is
\u00a0
determined.
\u00a0
The
\u00a0
value
\u00a0
in
\u00a0
use
\u00a0
is
\u00a0
determined
using
\u00a0
estimates
\u00a0
of
\u00a0
future
\u00a0
cash
\u00a0
flows,
\u00a0
which
\u00a0
are
\u00a0
impacted
\u00a0
by
\u00a0
future
\u00a0
market
\u00a0
development,
\u00a0
such
\u00a0
as
\u00a0
growth
and
\u00a0
profitability,
\u00a0
as
\u00a0
well
\u00a0
as
\u00a0
other
\u00a0
significant
\u00a0
factors.
\u00a0
The
\u00a0
most
\u00a0
important
\u00a0
factors
\u00a0
underlying
\u00a0
such
\u00a0
estimates
are
\u00a0
the
\u00a0
net
\u00a0
sales
\u00a0
growth
\u00a0
in
\u00a0
the
\u00a0
market
\u00a0
area,
\u00a0
the
\u00a0
operating
\u00a0
margin,
\u00a0
the
\u00a0
useful
\u00a0
life
\u00a0
of
\u00a0
the
\u00a0
assets,
\u00a0
future
investment
\u00a0
needs,
\u00a0
and
\u00a0
the
\u00a0
discount
\u00a0
rate.
\u00a0
Changes
\u00a0
in
\u00a0
these
\u00a0
assumptions
\u00a0
can
\u00a0
significantly
\u00a0
affect
\u00a0
the
expected
\u00a0
future
\u00a0
cash
\u00a0
flows.
Accounting
\u00a0
estimates
\u00a0
and
\u00a0
judgements
Assessing
\u00a0
the
\u00a0
probability
\u00a0
of
\u00a0
expected
\u00a0
future
\u00a0
economic
\u00a0
benefits
\u00a0
and
\u00a0
the
\u00a0
useful
\u00a0
lives
\u00a0
of
\u00a0
intangible
\u00a0
assets
require
\u00a0
management
\u00a0
judgement.
\u00a0
The
\u00a0
estimated
\u00a0
useful
\u00a0
lives
\u00a0
and
\u00a0
the
\u00a0
residual
\u00a0
values
\u00a0
are
\u00a0
reviewed
\u00a0
at
\u00a0
least
\u00a0
at
the
\u00a0
end
\u00a0
of
\u00a0
each
\u00a0
reporting
\u00a0
period,
\u00a0
and
\u00a0
if
\u00a0
they
\u00a0
differ
\u00a0
significantly
\u00a0
from
\u00a0
previous
\u00a0
estimates,
\u00a0
the
\u00a0
amortisation
periods
\u00a0
are
\u00a0
adjusted
\u00a0
accordingly.
\u00a0
Also,
\u00a0
assessing
\u00a0
any
\u00a0
indication
\u00a0
of
\u00a0
impairment
\u00a0
requires
\u00a0
management
judgement.
Accounting
\u00a0
estimates
\u00a0
and
\u00a0
judgements
Assessing
\u00a0
the
\u00a0
probability
\u00a0
of
\u00a0
expected
\u00a0
future
\u00a0
economic
\u00a0
benefits
\u00a0
and
\u00a0
useful
\u00a0
lives
\u00a0
of
\u00a0
property,
\u00a0
plant
\u00a0
and
equipment
\u00a0
require
\u00a0
management
\u00a0
judgement.
\u00a0
The
\u00a0
estimated
\u00a0
useful
\u00a0
lives
\u00a0
and
\u00a0
residual
\u00a0
values
\u00a0
are
\u00a0
reviewed
\u00a0
at
least
\u00a0
at
\u00a0
the
\u00a0
end
\u00a0
of
\u00a0
each
\u00a0
reporting
\u00a0
period,
\u00a0
and
\u00a0
if
\u00a0
they
\u00a0
differ
\u00a0
significantly
\u00a0
from
\u00a0
previous
\u00a0
estimates,
\u00a0
the
depreciation
\u00a0
periods
\u00a0
are
\u00a0
adjusted
\u00a0
accordingly.
\u00a0
Also,
\u00a0
assessing
\u00a0
any
\u00a0
indication
\u00a0
of
\u00a0
impairment
\u00a0
requires
management
\u00a0
judgement.
Accounting
\u00a0
estimates
\u00a0
and
\u00a0
judgements
Management
\u00a0
is
\u00a0
required
\u00a0
to
\u00a0
consider
\u00a0
the
\u00a0
duration
\u00a0
of
\u00a0
the
\u00a0
lease
\u00a0
term
\u00a0
if
\u00a0
there
\u00a0
is
\u00a0
an
\u00a0
option
\u00a0
for
\u00a0
extension,
\u00a0
early
termination
\u00a0
or
\u00a0
purchase,
\u00a0
as
\u00a0
well
\u00a0
as
\u00a0
determine
\u00a0
the
\u00a0
lease
\u00a0
term
\u00a0
for
\u00a0
agreements
\u00a0
with
\u00a0
indefinite
\u00a0
lease
\u00a0
term.
When
\u00a0
evaluating
\u00a0
the
\u00a0
probability
\u00a0
of
\u00a0
the
\u00a0
option
\u00a0
being
\u00a0
exercised
\u00a0
and,
\u00a0
therefore,
\u00a0
the
\u00a0
duration
\u00a0
of
\u00a0
the
\u00a0
lease
\u00a0
term,
management
\u00a0
considers
\u00a0
all
\u00a0
known
\u00a0
facts
\u00a0
and
\u00a0
circumstances,
\u00a0
for
\u00a0
example,
\u00a0
businesses\u2019
\u00a0
short-
\u00a0
and
\u00a0
long-term
strategies
\u00a0
that
\u00a0
create
\u00a0
a
\u00a0
financial
\u00a0
incentive
\u00a0
to
\u00a0
exercise,
\u00a0
or
\u00a0
not
\u00a0
to
\u00a0
exercise
\u00a0
the
\u00a0
option.
Accounting
\u00a0
estimates
\u00a0
and
\u00a0
judgements
Valuation
\u00a0
of
\u00a0
inventory,
\u00a0
mainly
\u00a0
concerning
\u00a0
obsolete
\u00a0
stock
\u00a0
and
\u00a0
future
\u00a0
selling
\u00a0
price
\u00a0
of
\u00a0
stock
\u00a0
items,
\u00a0
requires
management
\u00a0
judgement.
Writing
\u00a0
down
\u00a0
inventories
\u00a0
to
\u00a0
net
\u00a0
realisable
\u00a0
value
\u00a0
due
\u00a0
to
\u00a0
obsolete
\u00a0
and
\u00a0
excess
\u00a0
stock,
is
\u00a0
performed
\u00a0
based
\u00a0
on
\u00a0
management\u2019s
\u00a0
best
\u00a0
estimate
\u00a0
at
\u00a0
the
\u00a0
end
\u00a0
of
\u00a0
the
\u00a0
reporting
\u00a0
period
\u00a0
taking
\u00a0
into
consideration
\u00a0
the
\u00a0
business
\u00a0
and
\u00a0
market
\u00a0
specific
\u00a0
circumstances
\u00a0
and
\u00a0
outlook.
A
\u00a0
systematic
\u00a0
and
\u00a0
continuous
evaluation
\u00a0
of
\u00a0
inventory
\u00a0
ageing,
\u00a0
turn-over,
\u00a0
and
\u00a0
composition
\u00a0
compared
\u00a0
to
\u00a0
anticipated
\u00a0
future
\u00a0
use,
\u00a0
is
\u00a0
the
\u00a0
basis
for
\u00a0
the
\u00a0
estimates
.
Accounting
\u00a0
estimates
\u00a0
and
\u00a0
judgements
Estimated
\u00a0
expected
\u00a0
credit
\u00a0
loss
\u00a0
provisions
\u00a0
are
\u00a0
based
\u00a0
on
\u00a0
management\u2019s
\u00a0
best
\u00a0
judgement.
\u00a0
Management
judgement
\u00a0
includes
\u00a0
past
\u00a0
years\u2019
\u00a0
experience
\u00a0
and
\u00a0
a
\u00a0
forward-looking
\u00a0
understanding
\u00a0
of
\u00a0
the
\u00a0
client\u2019s
\u00a0
payment
behaviour
\u00a0
and
\u00a0
economic
\u00a0
situation.
\u00a0
In
\u00a0
addition,
\u00a0
assessing
\u00a0
whether
\u00a0
it
\u00a0
is
\u00a0
probable
\u00a0
that
\u00a0
the
\u00a0
consideration
\u00a0
from
contracts
\u00a0
with
\u00a0
customers
\u00a0
will
\u00a0
be
\u00a0
collected
\u00a0
requires
\u00a0
judgement,
\u00a0
and
\u00a0
might
\u00a0
impact
\u00a0
the
\u00a0
timing
\u00a0
and
\u00a0
amount
\u00a0
of
revenue
\u00a0
recognition.
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
Accounting
\u00a0
estimates
\u00a0
and
\u00a0
judgements
Provisions
\u00a0
are
\u00a0
accounted
\u00a0
for
\u00a0
based
\u00a0
on
\u00a0
management\u2019s
\u00a0
best
\u00a0
estimate
\u00a0
of
\u00a0
the
\u00a0
future
\u00a0
outcome
\u00a0
concerning
\u00a0
the
expected
\u00a0
expenses
\u00a0
in
\u00a0
a
\u00a0
specific
\u00a0
situation.
\u00a0
Management
\u00a0
uses
\u00a0
judgement
\u00a0
and
\u00a0
relies
\u00a0
on
\u00a0
estimates
\u00a0
based
\u00a0
on
accumulated
\u00a0
historical
\u00a0
experience,
\u00a0
situation
\u00a0
specific
\u00a0
circumstances,
\u00a0
estimated
\u00a0
risks,
\u00a0
uncertainties,
\u00a0
and
future
\u00a0
events,
\u00a0
such
\u00a0
as
\u00a0
changes
\u00a0
in
\u00a0
the
\u00a0
law
\u00a0
or
\u00a0
development
\u00a0
of
\u00a0
a
\u00a0
technology.
\u00a0
Management
\u00a0
judgement
\u00a0
is
\u00a0
also
required
\u00a0
in
\u00a0
estimating
\u00a0
provisions
\u00a0
for
\u00a0
legal
\u00a0
cases.
\u00a0
A
\u00a0
provision
\u00a0
for
\u00a0
a
\u00a0
court
\u00a0
case
\u00a0
is
\u00a0
recognised
\u00a0
when
\u00a0
an
unfavourable
\u00a0
result
\u00a0
is
\u00a0
probable,
\u00a0
and
\u00a0
the
\u00a0
loss
\u00a0
can
\u00a0
be
\u00a0
determined
\u00a0
with
\u00a0
reasonable
\u00a0
certainty.
\u00a0
The
\u00a0
Group
\u00a0
is
\u00a0
a
defendant
\u00a0
in
\u00a0
a
\u00a0
number
\u00a0
of
\u00a0
legal
\u00a0
cases
\u00a0
arising
\u00a0
from
\u00a0
its
\u00a0
business
\u00a0
operations.
\u00a0
The
\u00a0
final
\u00a0
result
\u00a0
from
\u00a0
these
\u00a0
cases
can
\u00a0
differ
\u00a0
from
\u00a0
these
\u00a0
estimates.
Accounting
\u00a0
estimates
\u00a0
and
\u00a0
judgements
Estimates
\u00a0
of
\u00a0
tax
\u00a0
liabilities
\u00a0
and
\u00a0
receivables
\u00a0
relate
\u00a0
mainly
\u00a0
to
\u00a0
the
\u00a0
expected
\u00a0
results
\u00a0
of
\u00a0
ongoing
\u00a0
tax
\u00a0
audits,
\u00a0
and
\u00a0
to
the
\u00a0
recognition
\u00a0
of
\u00a0
deferred
\u00a0
tax
\u00a0
receivables
\u00a0
from
\u00a0
tax
\u00a0
losses.
\u00a0
Deferred
\u00a0
tax
\u00a0
assets
\u00a0
on
\u00a0
unutilised
\u00a0
tax
\u00a0
losses
\u00a0
and
other
\u00a0
temporary
\u00a0
differences
\u00a0
are
\u00a0
recognised
\u00a0
to
\u00a0
the
\u00a0
extent
\u00a0
it
\u00a0
is
\u00a0
highly
\u00a0
probable
\u00a0
that
\u00a0
taxable
\u00a0
profit
\u00a0
is
\u00a0
available.
No
\u00a0
deferred
\u00a0
tax
\u00a0
assets
\u00a0
are
\u00a0
recognised
\u00a0
from
\u00a0
tax
\u00a0
losses
\u00a0
when
\u00a0
there
\u00a0
is
\u00a0
uncertainty
\u00a0
of
\u00a0
their
\u00a0
utilisation.
\u00a0
\n
\u00a0
\n
\u00a0
\n
Accounting
\u00a0
estimates
\u00a0
and
\u00a0
judgements
Estimates
\u00a0
of
\u00a0
pension
\u00a0
obligations
\u00a0
regarding
\u00a0
each
\u00a0
defined
\u00a0
benefit
\u00a0
plan
\u00a0
are
\u00a0
based
\u00a0
on
\u00a0
actuarial
\u00a0
estimates
\u00a0
of
factors,
\u00a0
including
\u00a0
future
\u00a0
salary
\u00a0
increases,
\u00a0
discount
\u00a0
rates,
\u00a0
and
\u00a0
return
\u00a0
on
\u00a0
plan
\u00a0
assets.
\u00a0
Changes
\u00a0
in
\u00a0
these
assumptions
\u00a0
can
\u00a0
significantly
\u00a0
affect
\u00a0
the
\u00a0
Group\u2019s
\u00a0
pension
\u00a0
obligations
\u00a0
and
\u00a0
pension
\u00a0
costs.
Accounting
\u00a0
estimates
\u00a0
and
\u00a0
judgements
Accounting
\u00a0
for
\u00a0
the
\u00a0
business
\u00a0
combinations
\u00a0
may
\u00a0
require
\u00a0
estimates
\u00a0
of
\u00a0
the
\u00a0
fair
\u00a0
value
\u00a0
of
\u00a0
acquired
\u00a0
assets
\u00a0
and
the
\u00a0
expected
\u00a0
amount
\u00a0
of
\u00a0
realised
\u00a0
contingent
\u00a0
consideration.
", "dimensions": { "concept": "ifrs-full:DisclosureOfAccountingJudgementsAndEstimatesExplanatory", "language": "en", "entity": "scheme:743700G7A9J1PHM3X223", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00" } }, "ID_14": { "value": "
2.1.
\u00a0
SEGMENT
\u00a0
INFORMATION
W\u00e4rtsil\u00e4\u2019s
\u00a0
reportable
\u00a0
segments
\u00a0
are
\u00a0
W\u00e4rtsil\u00e4
\u00a0
Marine
\u00a0
Power,
\u00a0
W\u00e4rtsil\u00e4
\u00a0
Marine
\u00a0
Systems,
\u00a0
and
\u00a0
W\u00e4rtsil\u00e4
\u00a0
Energy.
Furthermore,
\u00a0
W\u00e4rtsil\u00e4
\u00a0
reports
\u00a0
W\u00e4rtsil\u00e4
\u00a0
Portfolio
\u00a0
Business
\u00a0
as
\u00a0
other
\u00a0
business
\u00a0
activities.
\u00a0
The
\u00a0
segments
\u00a0
and
\u00a0
other
business
\u00a0
activities
\u00a0
cover
\u00a0
both
\u00a0
equipment
\u00a0
sales
\u00a0
and
\u00a0
services
\u00a0
for
\u00a0
the
\u00a0
respective
\u00a0
business.
As
\u00a0
of
\u00a0
1
\u00a0
January
\u00a0
2023,
\u00a0
Voyage
\u00a0
has
\u00a0
been
\u00a0
integrated
\u00a0
with
\u00a0
Marine
\u00a0
Power.
\u00a0
During
\u00a0
the
\u00a0
second
\u00a0
quarter
\u00a0
of
\u00a0
2023,
\u00a0
a
part
\u00a0
of
\u00a0
Marine
\u00a0
Power,
\u00a0
as
\u00a0
well
\u00a0
as
\u00a0
a
\u00a0
part
\u00a0
of
\u00a0
Marine
\u00a0
Systems,
\u00a0
have
\u00a0
been
\u00a0
moved
\u00a0
to
\u00a0
Portfolio
\u00a0
Business.
\u00a0
The
segment
\u00a0
related
\u00a0
comparison
\u00a0
figures
\u00a0
for
\u00a0
2022
\u00a0
have
\u00a0
been
\u00a0
restated
\u00a0
to
\u00a0
reflect
\u00a0
the
\u00a0
current
\u00a0
organisational
\u00a0
structure.
W\u00e4rtsil\u00e4's
\u00a0
highest
\u00a0
operative
\u00a0
decision
\u00a0
maker
\u00a0
(CODM,
\u00a0
Chief
\u00a0
Operating
\u00a0
Decision
\u00a0
Maker)
\u00a0
is
\u00a0
the
\u00a0
President
\u00a0
and
CEO,
\u00a0
with
\u00a0
the
\u00a0
support
\u00a0
of
\u00a0
the
\u00a0
Board
\u00a0
of
\u00a0
Management,
\u00a0
and
\u00a0
in
\u00a0
some
\u00a0
cases
\u00a0
the
\u00a0
Board
\u00a0
of
\u00a0
Directors.
Marine
\u00a0
Power,
\u00a0
Marine
\u00a0
Systems,
\u00a0
Energy,
\u00a0
and
\u00a0
Portfolio
\u00a0
Business
\u00a0
are
\u00a0
each
\u00a0
led
\u00a0
by
\u00a0
their
\u00a0
President.
\u00a0
Discrete
financial
\u00a0
information
\u00a0
on
\u00a0
each
\u00a0
business
\u00a0
is
\u00a0
provided
\u00a0
to
\u00a0
the
\u00a0
CODM
\u00a0
to
\u00a0
support
\u00a0
decision-making.
\u00a0
The
\u00a0
segment
information
\u00a0
presented
\u00a0
by
\u00a0
W\u00e4rtsil\u00e4
\u00a0
reflects
\u00a0
internal
\u00a0
management
\u00a0
reporting.
\u00a0
Segment
\u00a0
information
\u00a0
is
\u00a0
reported
\u00a0
to
the
\u00a0
level
\u00a0
of
\u00a0
operating
\u00a0
result,
\u00a0
as
\u00a0
items
\u00a0
below
\u00a0
operating
\u00a0
result
\u00a0
are
\u00a0
not
\u00a0
allocated
\u00a0
to
\u00a0
the
\u00a0
businesses.
Internal
\u00a0
sales
\u00a0
between
\u00a0
segments
\u00a0
and
\u00a0
other
\u00a0
business
\u00a0
activities
\u00a0
are
\u00a0
not
\u00a0
reported
\u00a0
in
\u00a0
management
\u00a0
reporting,
\u00a0
but
revenue
\u00a0
and
\u00a0
costs
\u00a0
of
\u00a0
sales
\u00a0
are
\u00a0
booked
\u00a0
directly
\u00a0
to
\u00a0
the
\u00a0
respective
\u00a0
customer
\u00a0
projects
\u00a0
and
\u00a0
orders.
\u00a0
The
\u00a0
main
factors
\u00a0
affecting
\u00a0
the
\u00a0
allocation
\u00a0
of
\u00a0
indirect
\u00a0
and
\u00a0
administration
\u00a0
costs
\u00a0
to
\u00a0
the
\u00a0
segments
\u00a0
and
\u00a0
other
\u00a0
business
activities
\u00a0
are
\u00a0
net
\u00a0
sales
\u00a0
and
\u00a0
the
\u00a0
number
\u00a0
of
\u00a0
personnel.
\u00a0
Management
\u00a0
considers
\u00a0
these
\u00a0
allocation
\u00a0
principles
\u00a0
to
\u00a0
be
the
\u00a0
most
\u00a0
suitable
\u00a0
means
\u00a0
for
\u00a0
reflecting
\u00a0
the
\u00a0
costs
\u00a0
carried
\u00a0
by
\u00a0
each
\u00a0
segment
\u00a0
and
\u00a0
other
\u00a0
business
\u00a0
activities.
\u00a0
The
allocation
\u00a0
principles
\u00a0
are
\u00a0
reviewed
\u00a0
regularly.
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
W\u00e4rtsil\u00e4\u2019s
\u00a0
marine
\u00a0
customer
\u00a0
base
\u00a0
covers
\u00a0
all
\u00a0
the
\u00a0
main
\u00a0
vessel
\u00a0
segments,
\u00a0
including
\u00a0
traditional
\u00a0
merchant
\u00a0
vessels,
gas
\u00a0
carriers,
\u00a0
cruise
\u00a0
&
\u00a0
ferry,
\u00a0
navy,
\u00a0
and
\u00a0
special
\u00a0
vessels.
\u00a0
In
\u00a0
the
\u00a0
oil
\u00a0
&
\u00a0
gas
\u00a0
industry,
\u00a0
W\u00e4rtsil\u00e4
\u00a0
is
\u00a0
active
\u00a0
in
\u00a0
serving
offshore
\u00a0
installations
\u00a0
and
\u00a0
related
\u00a0
industry
\u00a0
vessels,
\u00a0
as
\u00a0
well
\u00a0
as
\u00a0
land-based
\u00a0
gas
\u00a0
installations.
\u00a0
W\u00e4rtsil\u00e4\u2019s
customers
\u00a0
comprise
\u00a0
ship
\u00a0
owners,
\u00a0
shipyards,
\u00a0
and
\u00a0
ship
\u00a0
management
\u00a0
companies.
W\u00e4rtsil\u00e4
\u00a0
Marine
\u00a0
Power
Marine
\u00a0
Power
\u00a0
focuses
\u00a0
on
\u00a0
W\u00e4rtsil\u00e4\u2019s
\u00a0
comprehensive
\u00a0
range
\u00a0
of
\u00a0
engine
\u00a0
and
\u00a0
propulsion
\u00a0
solutions.
\u00a0
Its
\u00a0
offering,
which
\u00a0
includes
\u00a0
engines,
\u00a0
generating
\u00a0
sets,
\u00a0
gearboxes,
\u00a0
propulsion
\u00a0
equipment,
\u00a0
as
\u00a0
well
\u00a0
as
\u00a0
LNG
\u00a0
fuel
\u00a0
handling,
power
\u00a0
management,
\u00a0
and
\u00a0
NOx
\u00a0
reduction
\u00a0
technologies,
\u00a0
positions
\u00a0
Marine
\u00a0
Power
\u00a0
as
\u00a0
a
\u00a0
leading
\u00a0
partner
\u00a0
for
\u00a0
its
customers
\u00a0
in
\u00a0
the
\u00a0
decarbonisation
\u00a0
of
\u00a0
the
\u00a0
maritime
\u00a0
industry,
\u00a0
particularly
\u00a0
through
\u00a0
fuel
\u00a0
flexibility
\u00a0
and
\u00a0
hybrid
solutions.
Marine
\u00a0
Power
\u00a0
has
\u00a0
six
\u00a0
business
\u00a0
units:
\u00a0
Power
\u00a0
Supply,
\u00a0
Propulsion,
\u00a0
Parts
\u00a0
and
\u00a0
Field
\u00a0
Service,
\u00a0
Performance
Services,
\u00a0
Voyage
\u00a0
Services,
\u00a0
and
\u00a0
Project
\u00a0
Services.
\u00a0
The
\u00a0
Marine
\u00a0
Power
\u00a0
setup
\u00a0
has
\u00a0
been
\u00a0
specifically
\u00a0
designed
\u00a0
to
support
\u00a0
its
\u00a0
customers
\u00a0
throughout
\u00a0
the
\u00a0
entire
\u00a0
lifecycle
\u00a0
of
\u00a0
their
\u00a0
vessels:
\u00a0
from
\u00a0
designing,
\u00a0
developing,
\u00a0
and
\u00a0
delivering
high
\u00a0
quality
\u00a0
products
\u00a0
and
\u00a0
solutions
\u00a0
that
\u00a0
ensure
\u00a0
superior
\u00a0
performance
\u00a0
and
\u00a0
that
\u00a0
are
\u00a0
capable
\u00a0
of
\u00a0
meeting
\u00a0
evolving
environmental
\u00a0
requirements,
\u00a0
to
\u00a0
assisting
\u00a0
customers
\u00a0
with
\u00a0
a
\u00a0
wide
\u00a0
service
\u00a0
network
\u00a0
supplying
\u00a0
spare
\u00a0
parts,
competent
\u00a0
field
\u00a0
service
\u00a0
personnel,
\u00a0
and
\u00a0
product
\u00a0
and
\u00a0
solution
\u00a0
upgrades,
\u00a0
as
\u00a0
well
\u00a0
as
\u00a0
reducing
\u00a0
operational
\u00a0
risk.
W\u00e4rtsil\u00e4
\u00a0
Marine
\u00a0
Systems
Marine
\u00a0
Systems
\u00a0
consists
\u00a0
of
\u00a0
three
\u00a0
end-to-end
\u00a0
business
\u00a0
units:
\u00a0
Exhaust
\u00a0
Treatment,
\u00a0
Gas
\u00a0
Solutions,
\u00a0
and
\u00a0
Shaft
Line
\u00a0
Solutions.
Exhaust
\u00a0
Treatment
\u00a0
focuses
\u00a0
on
\u00a0
developing
\u00a0
the
\u00a0
exhaust
\u00a0
gas
\u00a0
cleaning
\u00a0
business.
\u00a0
W\u00e4rtsil\u00e4\u2019s
\u00a0
exhaust
\u00a0
gas
\u00a0
cleaning
technology
\u00a0
is
\u00a0
an
\u00a0
economical
\u00a0
and
\u00a0
environmentally
\u00a0
friendly
\u00a0
solution
\u00a0
for
\u00a0
addressing
\u00a0
all
\u00a0
existing
\u00a0
and
\u00a0
anticipated
rules
\u00a0
and
\u00a0
regulations.
\u00a0
W\u00e4rtsil\u00e4
\u00a0
scrubber
\u00a0
systems
\u00a0
are
\u00a0
designed
\u00a0
to
\u00a0
provide
\u00a0
flexibility
\u00a0
and
\u00a0
reliable
\u00a0
operations
wherever
\u00a0
customers
\u00a0
operate.
Gas
\u00a0
Solutions
\u00a0
is
\u00a0
the
\u00a0
leading
\u00a0
technology
\u00a0
and
\u00a0
service
\u00a0
provider
\u00a0
for
\u00a0
the
\u00a0
gas
\u00a0
value
\u00a0
chain,
\u00a0
with
\u00a0
a
\u00a0
broad
\u00a0
range
\u00a0
of
products
\u00a0
covering
\u00a0
cargo
\u00a0
handling
\u00a0
systems
\u00a0
for
\u00a0
gas
\u00a0
carriers,
\u00a0
liquefaction
\u00a0
and
\u00a0
gasification
\u00a0
systems
\u00a0
for
\u00a0
various
applications,
\u00a0
fuel
\u00a0
systems
\u00a0
for
\u00a0
alternative
\u00a0
engine
\u00a0
configurations
\u00a0
and
\u00a0
fuels,
\u00a0
and
\u00a0
renewable
\u00a0
gas
\u00a0
systems
\u00a0
with
solutions
\u00a0
for
\u00a0
biogas
\u00a0
upgrading
\u00a0
and
\u00a0
liquefaction.
Shaft
\u00a0
Line
\u00a0
Solutions
\u00a0
comprises
\u00a0
all
\u00a0
capabilities
\u00a0
required
\u00a0
to
\u00a0
provide
\u00a0
complete
\u00a0
integrated
\u00a0
shaft
\u00a0
line
\u00a0
solutions
\u00a0
from
its
\u00a0
global
\u00a0
factories
\u00a0
and
\u00a0
service
\u00a0
locations
\u00a0
to
\u00a0
customers
\u00a0
in
\u00a0
its
\u00a0
core
\u00a0
market
\u00a0
segments,
\u00a0
namely
\u00a0
navy,
\u00a0
merchant,
and
\u00a0
cruise.
In
\u00a0
November
\u00a0
2023,
\u00a0
it
\u00a0
was
\u00a0
announced
\u00a0
that,
\u00a0
effective
\u00a0
as
\u00a0
of
\u00a0
1
\u00a0
January
\u00a0
2024,
\u00a0
business
\u00a0
unit
\u00a0
Gas
\u00a0
Solutions
\u00a0
will
\u00a0
be
moved
\u00a0
to
\u00a0
Portfolio
\u00a0
Business
\u00a0
in
\u00a0
preparation
\u00a0
for
\u00a0
a
\u00a0
divestment.
\u00a0
In
\u00a0
addition,
\u00a0
business
\u00a0
units
\u00a0
Exhaust
\u00a0
Treatment
\u00a0
and
Shaft
\u00a0
Line
\u00a0
Solutions
\u00a0
will
\u00a0
be
\u00a0
moved
\u00a0
from
\u00a0
Marine
\u00a0
Systems
\u00a0
to
\u00a0
Marine
\u00a0
Power.
\u00a0
Consequently,
\u00a0
Marine
\u00a0
Systems
\u00a0
will
no
\u00a0
longer
\u00a0
constitute
\u00a0
an
\u00a0
organisational
\u00a0
unit
\u00a0
or
\u00a0
a
\u00a0
reportable
\u00a0
segment.
\u00a0
Following
\u00a0
these
\u00a0
planned
\u00a0
changes,
\u00a0
W\u00e4rtsil\u00e4
Marine
\u00a0
Power
\u00a0
will
\u00a0
change
\u00a0
its
\u00a0
name
\u00a0
to
\u00a0
W\u00e4rtsil\u00e4
\u00a0
Marine.
W\u00e4rtsil\u00e4
\u00a0
Energy
W\u00e4rtsil\u00e4
\u00a0
Energy
\u00a0
leads
\u00a0
the
\u00a0
transition
\u00a0
towards
\u00a0
a
\u00a0
100%
\u00a0
renewable
\u00a0
energy
\u00a0
future.
\u00a0
W\u00e4rtsil\u00e4
\u00a0
develops
\u00a0
market-
leading
\u00a0
technologies,
\u00a0
including
\u00a0
flexible
\u00a0
power
\u00a0
plants,
\u00a0
energy
\u00a0
management
\u00a0
and
\u00a0
storage
\u00a0
systems,
\u00a0
as
\u00a0
well
\u00a0
as
lifecycle
\u00a0
services
\u00a0
that
\u00a0
enable
\u00a0
increased
\u00a0
efficiency
\u00a0
and
\u00a0
guaranteed
\u00a0
performance.
W\u00e4rtsil\u00e4\u2019s
\u00a0
three
\u00a0
main
\u00a0
customer
\u00a0
segments
\u00a0
in
\u00a0
the
\u00a0
energy
\u00a0
markets
\u00a0
are
\u00a0
utilities,
\u00a0
independent
\u00a0
power
\u00a0
producers,
and
\u00a0
industrial
\u00a0
customers.
\u00a0
The
\u00a0
company\u2019s
\u00a0
solutions
\u00a0
are
\u00a0
used
\u00a0
for
\u00a0
a
\u00a0
wide
\u00a0
variety
\u00a0
of
\u00a0
applications,
\u00a0
including
baseload
\u00a0
generation,
\u00a0
capacity
\u00a0
for
\u00a0
grid
\u00a0
stability,
\u00a0
peaking
\u00a0
and
\u00a0
load-following
\u00a0
generation,
\u00a0
and
\u00a0
to
\u00a0
support
\u00a0
the
greater
\u00a0
integration
\u00a0
of
\u00a0
wind
\u00a0
and
\u00a0
solar
\u00a0
power.
\u00a0
W\u00e4rtsil\u00e4
\u00a0
provides
\u00a0
its
\u00a0
customers
\u00a0
with
\u00a0
a
\u00a0
comprehensive
understanding
\u00a0
of
\u00a0
energy
\u00a0
systems,
\u00a0
including
\u00a0
fully
\u00a0
integrated
\u00a0
assets
\u00a0
and
\u00a0
software,
\u00a0
complete
\u00a0
with
\u00a0
value
\u00a0
adding
lifecycle
\u00a0
services.
W\u00e4rtsil\u00e4
\u00a0
Portfolio
\u00a0
Business
W\u00e4rtsil\u00e4
\u00a0
reports
\u00a0
Portfolio
\u00a0
Business
\u00a0
as
\u00a0
other
\u00a0
business
\u00a0
activities.
\u00a0
W\u00e4rtsil\u00e4
\u00a0
Portfolio
\u00a0
Business
\u00a0
consists
\u00a0
of
\u00a0
Water
\u00a0
&
Waste
\u00a0
,
\u00a0
Marine
\u00a0
Electrical
\u00a0
Systems,
\u00a0
and
\u00a0
Automation,
\u00a0
Navigation
\u00a0
and
\u00a0
Control
\u00a0
Systems.
\u00a0
The
\u00a0
business
\u00a0
units
\u00a0
are
run
\u00a0
independently
\u00a0
to
\u00a0
accelerate
\u00a0
performance
\u00a0
improvement
\u00a0
and
\u00a0
unlock
\u00a0
value
\u00a0
through
\u00a0
divestments
\u00a0
or
\u00a0
other
strategic
\u00a0
alternatives.
Portfolio
\u00a0
Business
\u00a0
also
\u00a0
included
\u00a0
business
\u00a0
unit
\u00a0
American
\u00a0
Hydro
\u00a0
until
\u00a0
it
\u00a0
was
\u00a0
divested
\u00a0
on
\u00a0
1
\u00a0
May
\u00a0
2023.
2023
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
MEUR
Marine
Power
Marine
\u00a0
Systems
Energy
Portfolio
Business
Total
Net
\u00a0
sales
2
\u00a0
540
491
2
\u00a0
610
374
6
\u00a0
015
Depreciation
\u00a0
and
\u00a0
amortisation
-81
-14
-33
-9
-137
Impairment
-10
-45
-56
Share
\u00a0
of
\u00a0
result
\u00a0
of
\u00a0
associates
\u00a0
and
\u00a0
joint
\u00a0
ventures
9
9
Operating
\u00a0
result
224
4
209
-35
402
as
\u00a0
a
\u00a0
percentage
\u00a0
of
\u00a0
net
\u00a0
sales
\u00a0
(%)
8,8
0,8
8,0
-9,4
6,7
Items
\u00a0
affecting
\u00a0
comparability
-34
-2
-10
-49
-95
Comparable
\u00a0
operating
\u00a0
result
258
6
219
14
497
as
\u00a0
a
\u00a0
percentage
\u00a0
of
\u00a0
net
\u00a0
sales
\u00a0
(%)
10,2
1,2
8,4
3,7
8,3
Service
\u00a0
net
\u00a0
sales
MEUR
2023
2022
Net
\u00a0
sales
Marine
\u00a0
Power,
\u00a0
service
1
\u00a0
665
1
\u00a0
424
Marine
\u00a0
Systems,
\u00a0
service
225
211
Energy,
\u00a0
service
1
\u00a0
095
958
Portfolio
\u00a0
Business,
\u00a0
service
164
182
Total
3
\u00a0
148
2
\u00a0
775
2.2.
\u00a0
REVENUE
\u00a0
RECOGNITION
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
Accounting
\u00a0
principles
According
\u00a0
to
\u00a0
revenue
\u00a0
recognition
\u00a0
principles,
\u00a0
revenue
\u00a0
is
\u00a0
recognised
\u00a0
when
\u00a0
control
\u00a0
of
\u00a0
the
\u00a0
goods
\u00a0
or
\u00a0
services
\u00a0
is
transferred
\u00a0
to
\u00a0
the
\u00a0
customer
\u00a0
at
\u00a0
an
\u00a0
amount
\u00a0
that
\u00a0
reflects
\u00a0
the
\u00a0
consideration
\u00a0
to
\u00a0
which
\u00a0
the
\u00a0
Group
\u00a0
expects
\u00a0
to
\u00a0
be
entitled
\u00a0
in
\u00a0
exchange
\u00a0
for
\u00a0
those
\u00a0
goods
\u00a0
and
\u00a0
services.
\u00a0
The
\u00a0
Group
\u00a0
recognises
\u00a0
revenue
\u00a0
when
\u00a0
it
\u00a0
satisfies
\u00a0
an
identified
\u00a0
performance
\u00a0
obligation
\u00a0
by
\u00a0
transferring
\u00a0
promised
\u00a0
goods
\u00a0
or
\u00a0
services
\u00a0
to
\u00a0
the
\u00a0
customer.
\u00a0
Goods
\u00a0
and
services
\u00a0
are
\u00a0
generally
\u00a0
considered
\u00a0
to
\u00a0
be
\u00a0
transferred
\u00a0
when
\u00a0
the
\u00a0
customer
\u00a0
obtains
\u00a0
control
\u00a0
of
\u00a0
them.
\u00a0
Such
control
\u00a0
is
\u00a0
transferred
\u00a0
either
\u00a0
at
\u00a0
a
\u00a0
point
\u00a0
in
\u00a0
time
\u00a0
or
\u00a0
over
\u00a0
time.
\u00a0
Revenue
\u00a0
recognised
\u00a0
by
\u00a0
the
\u00a0
end
\u00a0
of
\u00a0
the
\u00a0
reporting
period
\u00a0
corresponds
\u00a0
to
\u00a0
the
\u00a0
benefit
\u00a0
of
\u00a0
the
\u00a0
service
\u00a0
provided
\u00a0
by
\u00a0
W\u00e4rtsil\u00e4
\u00a0
to
\u00a0
the
\u00a0
customer.
\u00a0
Revenue
\u00a0
is
\u00a0
presented
net
\u00a0
of
\u00a0
indirect
\u00a0
sales
\u00a0
taxes,
\u00a0
liquidated
\u00a0
damages,
\u00a0
and
\u00a0
discounts.
Revenue
\u00a0
recognised
\u00a0
over
\u00a0
time
\u00a0
is
\u00a0
measured
\u00a0
in
\u00a0
accordance
\u00a0
with
\u00a0
the
\u00a0
input
\u00a0
method
\u00a0
(progress
\u00a0
measured
based
\u00a0
on
\u00a0
costs
\u00a0
incurred)
\u00a0
when
\u00a0
the
\u00a0
outcome
\u00a0
of
\u00a0
the
\u00a0
contract
\u00a0
can
\u00a0
be
\u00a0
estimated
\u00a0
reliably.
\u00a0
When
\u00a0
the
\u00a0
outcome
cannot
\u00a0
be
\u00a0
reliably
\u00a0
determined,
\u00a0
the
\u00a0
costs
\u00a0
arising
\u00a0
are
\u00a0
expensed
\u00a0
in
\u00a0
the
\u00a0
same
\u00a0
reporting
\u00a0
period
\u00a0
in
\u00a0
which
\u00a0
they
occur,
\u00a0
but
\u00a0
the
\u00a0
revenue
\u00a0
is
\u00a0
recognised
\u00a0
only
\u00a0
to
\u00a0
the
\u00a0
extent
\u00a0
that
\u00a0
the
\u00a0
company
\u00a0
will
\u00a0
receive
\u00a0
an
\u00a0
amount
corresponding
\u00a0
to
\u00a0
actual
\u00a0
costs.
\u00a0
Any
\u00a0
losses
\u00a0
are
\u00a0
expensed
\u00a0
immediately.
\u00a0
If
\u00a0
revenue
\u00a0
for
\u00a0
goods
\u00a0
and
\u00a0
services
\u00a0
is
recognised
\u00a0
at
\u00a0
a
\u00a0
point
\u00a0
in
\u00a0
time,
\u00a0
it
\u00a0
is
\u00a0
when
\u00a0
control
\u00a0
is
\u00a0
transferred
\u00a0
to
\u00a0
the
\u00a0
customer.
\u00a0
The
\u00a0
transfer
\u00a0
of
\u00a0
control
\u00a0
is
based
\u00a0
mainly
\u00a0
on
\u00a0
transferring
\u00a0
risks
\u00a0
and
\u00a0
rewards
\u00a0
according
\u00a0
to
\u00a0
the
\u00a0
delivery
\u00a0
terms.
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
The
\u00a0
transaction
\u00a0
price
\u00a0
is
\u00a0
mainly
\u00a0
fixed
\u00a0
but
\u00a0
often
\u00a0
may
\u00a0
include
\u00a0
variable
\u00a0
considerations,
\u00a0
such
\u00a0
as
\u00a0
liquidated
damages,
\u00a0
performance
\u00a0
bonuses
\u00a0
and
\u00a0
discounts.
\u00a0
In
\u00a0
long-term
\u00a0
agreements,
\u00a0
different
\u00a0
variable
\u00a0
fees
\u00a0
are
common,
\u00a0
such
\u00a0
as
\u00a0
fees
\u00a0
based
\u00a0
on
\u00a0
power
\u00a0
plant
\u00a0
running
\u00a0
hours
\u00a0
or
\u00a0
megawatts
\u00a0
produced
\u00a0
in
\u00a0
Energy,
\u00a0
and
\u00a0
on
vessel
\u00a0
running
\u00a0
hours
\u00a0
in
\u00a0
Marine
\u00a0
Power.
\u00a0
These
\u00a0
estimated
\u00a0
fees
\u00a0
are
\u00a0
based
\u00a0
on
\u00a0
customer
\u00a0
future
\u00a0
load
\u00a0
plans
\u00a0
or
other
\u00a0
parameters,
\u00a0
such
\u00a0
as
\u00a0
historical
\u00a0
demand
\u00a0
trends.
\u00a0
Variable
\u00a0
consideration
\u00a0
is
\u00a0
included
\u00a0
in
\u00a0
the
\u00a0
revenue
\u00a0
only
to
\u00a0
the
\u00a0
extent
\u00a0
that
\u00a0
it
\u00a0
is
\u00a0
highly
\u00a0
probable
\u00a0
that
\u00a0
the
\u00a0
amount
\u00a0
will
\u00a0
not
\u00a0
be
\u00a0
subject
\u00a0
to
\u00a0
significant
\u00a0
reversal.
\u00a0
Transaction
prices
\u00a0
including
\u00a0
variable
\u00a0
components
\u00a0
are
\u00a0
reassessed
\u00a0
at
\u00a0
the
\u00a0
end
\u00a0
of
\u00a0
each
\u00a0
reporting
\u00a0
period.
W\u00e4rtsil\u00e4
\u00a0
often
\u00a0
requires
\u00a0
advance
\u00a0
payments
\u00a0
from
\u00a0
its
\u00a0
customers
\u00a0
or
\u00a0
invoices
\u00a0
customers
\u00a0
based
\u00a0
on
\u00a0
milestones.
Payment
\u00a0
terms
\u00a0
are
\u00a0
typical
\u00a0
to
\u00a0
the
\u00a0
business
\u00a0
and
\u00a0
advances
\u00a0
received
\u00a0
or
\u00a0
contract
\u00a0
assets
\u00a0
do
\u00a0
not
\u00a0
contain
financing
\u00a0
component
\u00a0
as
\u00a0
payment
\u00a0
schedules
\u00a0
follow
\u00a0
the
\u00a0
timing
\u00a0
of
\u00a0
the
\u00a0
performance
\u00a0
obligation
\u00a0
to
\u00a0
be
\u00a0
satisfied.
W\u00e4rtsil\u00e4
\u00a0
focuses
\u00a0
on
\u00a0
the
\u00a0
marine
\u00a0
and
\u00a0
energy
\u00a0
markets
\u00a0
with
\u00a0
products,
\u00a0
solutions,
\u00a0
and
\u00a0
services.
\u00a0
Revenue
\u00a0
from
contracts
\u00a0
with
\u00a0
customers
\u00a0
is
\u00a0
derived
\u00a0
from
\u00a0
four
\u00a0
revenue
\u00a0
types:
\u00a0
products,
\u00a0
goods
\u00a0
and
\u00a0
services,
\u00a0
projects,
\u00a0
and
long-term
\u00a0
agreements.
\u00a0
All
\u00a0
these
\u00a0
revenue
\u00a0
types
\u00a0
are
\u00a0
represented
\u00a0
within
\u00a0
all
\u00a0
reportable
\u00a0
segments
\u00a0
and
\u00a0
other
business
\u00a0
activities:
\u00a0
Marine
\u00a0
Power,
\u00a0
Marine
\u00a0
Systems,
\u00a0
Energy
\u00a0
and
\u00a0
Portfolio
\u00a0
Business.
Product
\u00a0
sales
\u00a0
consist
\u00a0
of
\u00a0
sales
\u00a0
of
\u00a0
spare
\u00a0
parts
\u00a0
and
\u00a0
standard
\u00a0
equipment,
\u00a0
for
\u00a0
which
\u00a0
the
\u00a0
revenue
\u00a0
is
\u00a0
recognised
at
\u00a0
a
\u00a0
point
\u00a0
in
\u00a0
time
\u00a0
when
\u00a0
the
\u00a0
control
\u00a0
of
\u00a0
the
\u00a0
product
\u00a0
has
\u00a0
transferred
\u00a0
to
\u00a0
the
\u00a0
customer,
\u00a0
in
\u00a0
general
\u00a0
upon
\u00a0
delivery
of
\u00a0
the
\u00a0
goods.
\u00a0
Product
\u00a0
sale
\u00a0
contracts
\u00a0
typically
\u00a0
include
\u00a0
one
\u00a0
performance
\u00a0
obligation.
Goods
\u00a0
and
\u00a0
services
\u00a0
-type
\u00a0
of
\u00a0
revenue
\u00a0
involves
\u00a0
short-term
\u00a0
field
\u00a0
service
\u00a0
jobs,
\u00a0
including
\u00a0
the
\u00a0
delivery
\u00a0
of
\u00a0
a
combination
\u00a0
of
\u00a0
service
\u00a0
and
\u00a0
equipment.
\u00a0
The
\u00a0
revenue
\u00a0
is
\u00a0
recognised
\u00a0
at
\u00a0
a
\u00a0
point
\u00a0
in
\u00a0
time
\u00a0
when
\u00a0
the
\u00a0
service
\u00a0
is
rendered.
\u00a0
Goods
\u00a0
and
\u00a0
service
\u00a0
-type
\u00a0
contracts,
\u00a0
generally
\u00a0
include
\u00a0
one
\u00a0
performance
\u00a0
obligation.
Projects
\u00a0
are
\u00a0
of
\u00a0
both
\u00a0
short-
\u00a0
and
\u00a0
long-term
\u00a0
in
\u00a0
duration.
\u00a0
Depending
\u00a0
on
\u00a0
the
\u00a0
contract
\u00a0
terms
\u00a0
and
\u00a0
the
\u00a0
duration
\u00a0
of
the
\u00a0
project,
\u00a0
the
\u00a0
revenue
\u00a0
is
\u00a0
recognised
\u00a0
at
\u00a0
a
\u00a0
point
\u00a0
in
\u00a0
time
\u00a0
or
\u00a0
over
\u00a0
time.
\u00a0
Revenue
\u00a0
from
\u00a0
tailor-made
\u00a0
equipment
delivery
\u00a0
projects
\u00a0
is
\u00a0
recognised
\u00a0
at
\u00a0
a
\u00a0
point
\u00a0
in
\u00a0
time
\u00a0
when
\u00a0
the
\u00a0
control
\u00a0
of
\u00a0
the
\u00a0
equipment
\u00a0
is
\u00a0
transferred,
\u00a0
in
\u00a0
general
upon
\u00a0
delivery.
\u00a0
These
\u00a0
contracts
\u00a0
generally
\u00a0
represent
\u00a0
one
\u00a0
performance
\u00a0
obligation,
\u00a0
but
\u00a0
under
\u00a0
certain
circumstances
\u00a0
they
\u00a0
can
\u00a0
contain
\u00a0
multiple
\u00a0
performance
\u00a0
obligations
\u00a0
when
\u00a0
a
\u00a0
contract
\u00a0
contains
\u00a0
multiple
\u00a0
units
\u00a0
of
delivery.
\u00a0
Tailor
\u00a0
-made
\u00a0
equipment
\u00a0
sales
\u00a0
are
\u00a0
mainly
\u00a0
in
\u00a0
Marine
\u00a0
Power,
\u00a0
for
\u00a0
example,
\u00a0
engine
\u00a0
and
\u00a0
propulsion
sales,
\u00a0
and
\u00a0
scrubber
\u00a0
system
\u00a0
sales
\u00a0
in
\u00a0
Marine
\u00a0
Systems.
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
In
\u00a0
long-term
\u00a0
projects,
\u00a0
such
\u00a0
as
\u00a0
large-scale
\u00a0
systems,
\u00a0
i.e.
\u00a0
power
\u00a0
plants
\u00a0
and
\u00a0
energy
\u00a0
storages
\u00a0
in
\u00a0
Energy,
\u00a0
and
gas
\u00a0
solutions
\u00a0
construction
\u00a0
contracts
\u00a0
in
\u00a0
Marine
\u00a0
Systems
\u00a0
or
\u00a0
equipment
\u00a0
deliveries
\u00a0
which
\u00a0
require
\u00a0
engineering,
the
\u00a0
revenue
\u00a0
is
\u00a0
recognised
\u00a0
over
\u00a0
time
\u00a0
as
\u00a0
the
\u00a0
asset
\u00a0
produced
\u00a0
does
\u00a0
not
\u00a0
have
\u00a0
alternative
\u00a0
use
\u00a0
and
\u00a0
the
\u00a0
Group
has
\u00a0
an
\u00a0
enforceable
\u00a0
right
\u00a0
to
\u00a0
payment.
\u00a0
These
\u00a0
contracts
\u00a0
usually
\u00a0
contain
\u00a0
one
\u00a0
performance
\u00a0
obligation.
\u00a0
The
progress
\u00a0
is
\u00a0
measured
\u00a0
by
\u00a0
using
\u00a0
the
\u00a0
cost-to-cost
\u00a0
method,
\u00a0
where
\u00a0
sales
\u00a0
and
\u00a0
profits
\u00a0
are
\u00a0
recognised
\u00a0
after
considering
\u00a0
the
\u00a0
ratio
\u00a0
of
\u00a0
accumulated
\u00a0
costs
\u00a0
to
\u00a0
estimated
\u00a0
total
\u00a0
costs
\u00a0
to
\u00a0
complete
\u00a0
each
\u00a0
contract.
\u00a0
Revenue
from
\u00a0
service-related
\u00a0
projects,
\u00a0
such
\u00a0
as
\u00a0
modernisation
\u00a0
and
\u00a0
upgrade
\u00a0
projects,
\u00a0
are
\u00a0
recognised
\u00a0
over
\u00a0
time
because
\u00a0
the
\u00a0
customer
\u00a0
typically
\u00a0
controls
\u00a0
the
\u00a0
asset
\u00a0
that
\u00a0
is
\u00a0
enhanced.
\u00a0
Service-related
\u00a0
projects
\u00a0
usually
\u00a0
contain
one
\u00a0
performance
\u00a0
obligation.
Long-term
\u00a0
agreements
\u00a0
include
\u00a0
long-term
\u00a0
operating
\u00a0
and
\u00a0
maintenance
\u00a0
agreements
\u00a0
for
\u00a0
which
\u00a0
the
\u00a0
revenue
\u00a0
is
recognised
\u00a0
over
\u00a0
time
\u00a0
because
\u00a0
the
\u00a0
customer
\u00a0
simultaneously
\u00a0
receives
\u00a0
and
\u00a0
consumes
\u00a0
the
\u00a0
service
\u00a0
provided.
Measuring
\u00a0
progress
\u00a0
is
\u00a0
based
\u00a0
on
\u00a0
cost-to-cost
\u00a0
method,
\u00a0
costs
\u00a0
of
\u00a0
actual
\u00a0
services
\u00a0
provided
\u00a0
as
\u00a0
a
\u00a0
proportion
\u00a0
of
the
\u00a0
costs
\u00a0
of
\u00a0
total
\u00a0
services
\u00a0
to
\u00a0
be
\u00a0
rendered.
\u00a0
These
\u00a0
contracts
\u00a0
typically
\u00a0
contain
\u00a0
one
\u00a0
performance
\u00a0
obligation
\u00a0
per
installation.
\u00a0
Long-term
\u00a0
agreements
\u00a0
mainly
\u00a0
generate
\u00a0
revenue
\u00a0
in
\u00a0
Energy
\u00a0
and
\u00a0
in
\u00a0
Marine
\u00a0
Power.
Contracts
\u00a0
with
\u00a0
customers
\u00a0
often
\u00a0
include
\u00a0
warranties
\u00a0
in
\u00a0
line
\u00a0
with
\u00a0
W\u00e4rtsil\u00e4\u2019s
\u00a0
General
\u00a0
terms
\u00a0
and
\u00a0
conditions,
which
\u00a0
are
\u00a0
regarded
\u00a0
as
\u00a0
part
\u00a0
of
\u00a0
the
\u00a0
promise
\u00a0
to
\u00a0
the
\u00a0
customer.
\u00a0
Typically,
\u00a0
the
\u00a0
standard
\u00a0
warranty
\u00a0
period
\u00a0
is
\u00a0
one
year
\u00a0
from
\u00a0
the
\u00a0
delivery
\u00a0
onwards.
\u00a0
Extended
\u00a0
warranties
\u00a0
or
\u00a0
warranties
\u00a0
purchased
\u00a0
as
\u00a0
an
\u00a0
option
\u00a0
are
\u00a0
identified
\u00a0
as
separate
\u00a0
performance
\u00a0
obligations
\u00a0
with
\u00a0
revenue
\u00a0
being
\u00a0
recognised
\u00a0
evenly
\u00a0
over
\u00a0
the
\u00a0
warranty
\u00a0
period.
The
\u00a0
Group
\u00a0
also
\u00a0
applies
\u00a0
the
\u00a0
practical
\u00a0
expedient
\u00a0
stated
\u00a0
in
\u00a0
IFRS
\u00a0
15.94
\u00a0
according
\u00a0
to
\u00a0
which
\u00a0
an
\u00a0
entity
\u00a0
can
recognise
\u00a0
the
\u00a0
incremental
\u00a0
costs
\u00a0
of
\u00a0
obtaining
\u00a0
a
\u00a0
contract
\u00a0
as
\u00a0
an
\u00a0
expense
\u00a0
when
\u00a0
incurred
\u00a0
if
\u00a0
the
\u00a0
amortisation
period
\u00a0
of
\u00a0
the
\u00a0
asset
\u00a0
that
\u00a0
the
\u00a0
entity
\u00a0
would
\u00a0
have
\u00a0
recognised
\u00a0
is
\u00a0
one
\u00a0
year
\u00a0
or
\u00a0
less.
\u00a0
W\u00e4rtsil\u00e4
\u00a0
has
\u00a0
not
\u00a0
incurred
\u00a0
any
costs
\u00a0
for
\u00a0
obtaining
\u00a0
a
\u00a0
contract
\u00a0
to
\u00a0
be
\u00a0
recognised
\u00a0
as
\u00a0
an
\u00a0
asset.
Information
\u00a0
on
\u00a0
contract
\u00a0
assets
\u00a0
and
\u00a0
liabilities
\u00a0
is
\u00a0
available
\u00a0
in
\u00a0
Note
\u00a0
4.2.
\u00a0
Trade
\u00a0
receivables
\u00a0
and
\u00a0
contract
\u00a0
assets
and
\u00a0
liabilities.
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
Accounting
\u00a0
estimates
\u00a0
and
\u00a0
judgements
Revenue
\u00a0
from
\u00a0
certain
\u00a0
projects
\u00a0
and
\u00a0
long-term
\u00a0
agreements
\u00a0
is
\u00a0
recognised
\u00a0
over
\u00a0
time
\u00a0
according
\u00a0
to
\u00a0
the
\u00a0
input
method
\u00a0
when
\u00a0
the
\u00a0
profit
\u00a0
on
\u00a0
the
\u00a0
project
\u00a0
or
\u00a0
agreement
\u00a0
can
\u00a0
be
\u00a0
reliably
\u00a0
determined.
\u00a0
The
\u00a0
progress
\u00a0
and
\u00a0
the
profitability
\u00a0
are
\u00a0
based
\u00a0
on
\u00a0
management\u2019s
\u00a0
estimates,
\u00a0
which
\u00a0
require
\u00a0
significant
\u00a0
judgement
\u00a0
concerning
\u00a0
the
stage
\u00a0
of
\u00a0
completion,
\u00a0
the
\u00a0
cost
\u00a0
to
\u00a0
complete,
\u00a0
and
\u00a0
the
\u00a0
time
\u00a0
of
\u00a0
completion.
\u00a0
These
\u00a0
estimates
\u00a0
are
\u00a0
reviewed
regularly.
\u00a0
Revenue
\u00a0
and
\u00a0
costs
\u00a0
recognised
\u00a0
are
\u00a0
adjusted
\u00a0
during
\u00a0
the
\u00a0
project
\u00a0
when
\u00a0
assumptions
\u00a0
concerning
\u00a0
the
outcome
\u00a0
of
\u00a0
the
\u00a0
entire
\u00a0
project
\u00a0
are
\u00a0
updated.
\u00a0
Changes
\u00a0
in
\u00a0
assumptions
\u00a0
relate
\u00a0
to
\u00a0
changes
\u00a0
in
\u00a0
the
\u00a0
project\u2019s
\u00a0
or
agreement\u2019s
\u00a0
schedule,
\u00a0
the
\u00a0
scope
\u00a0
of
\u00a0
supply,
\u00a0
technology,
\u00a0
costs,
\u00a0
and
\u00a0
any
\u00a0
other
\u00a0
relevant
\u00a0
factors.
Establishing
\u00a0
whether
\u00a0
distinct
\u00a0
goods
\u00a0
or
\u00a0
services
\u00a0
are
\u00a0
considered
\u00a0
as
\u00a0
separate
\u00a0
performance
\u00a0
obligations
requires
\u00a0
judgement
\u00a0
and
\u00a0
might
\u00a0
impact
\u00a0
the
\u00a0
timing
\u00a0
and
\u00a0
amount
\u00a0
of
\u00a0
revenue
\u00a0
recognition.
Project
\u00a0
business
\u00a0
contracts
\u00a0
usually
\u00a0
involve
\u00a0
elements
\u00a0
of
\u00a0
variable
\u00a0
consideration.
\u00a0
At
\u00a0
the
\u00a0
end
\u00a0
of
\u00a0
each
\u00a0
reporting
period,
\u00a0
management
\u00a0
reassesses
\u00a0
the
\u00a0
transaction
\u00a0
price,
\u00a0
which
\u00a0
requires
\u00a0
significant
\u00a0
judgement
\u00a0
as
\u00a0
it
\u00a0
affects
\u00a0
the
timing
\u00a0
of
\u00a0
the
\u00a0
revenue
\u00a0
recognition.
\u00a0
The
\u00a0
valuation
\u00a0
of
\u00a0
accounts
\u00a0
receivables
\u00a0
also
\u00a0
includes
\u00a0
estimates
\u00a0
mainly
concerning
\u00a0
the
\u00a0
recoverability
\u00a0
of
\u00a0
receivables.
Determining
\u00a0
whether
\u00a0
different
\u00a0
contracts
\u00a0
with
\u00a0
the
\u00a0
same
\u00a0
customer
\u00a0
are
\u00a0
accounted
\u00a0
for
\u00a0
as
\u00a0
one
\u00a0
contract
\u00a0
involves
the
\u00a0
use
\u00a0
of
\u00a0
judgement,
\u00a0
as
\u00a0
it
\u00a0
requires
\u00a0
an
\u00a0
assessment
\u00a0
of
\u00a0
whether
\u00a0
the
\u00a0
contracts
\u00a0
are
\u00a0
negotiated
\u00a0
together
\u00a0
or
linked
\u00a0
in
\u00a0
any
\u00a0
other
\u00a0
way.
\u00a0
The
\u00a0
timing
\u00a0
and
\u00a0
amount
\u00a0
of
\u00a0
revenue
\u00a0
recognition
\u00a0
can
\u00a0
vary
\u00a0
depending
\u00a0
on
\u00a0
whether
\u00a0
two
contracts
\u00a0
are
\u00a0
accounted
\u00a0
for
\u00a0
separately,
\u00a0
or
\u00a0
as
\u00a0
one
\u00a0
single
\u00a0
arrangement.
Warranty
\u00a0
provisions
\u00a0
are
\u00a0
recognised
\u00a0
when
\u00a0
goods
\u00a0
and
\u00a0
services
\u00a0
have
\u00a0
been
\u00a0
rendered
\u00a0
to
\u00a0
the
\u00a0
customer.
\u00a0
The
provision
\u00a0
is
\u00a0
based
\u00a0
on
\u00a0
the
\u00a0
accumulated
\u00a0
experience
\u00a0
of
\u00a0
the
\u00a0
level
\u00a0
of
\u00a0
warranty
\u00a0
needed
\u00a0
to
\u00a0
manage
\u00a0
future
\u00a0
and
current
\u00a0
cost
\u00a0
claims.
\u00a0
Products
\u00a0
can
\u00a0
contain
\u00a0
new
\u00a0
and
\u00a0
complex
\u00a0
technology
\u00a0
that
\u00a0
can
\u00a0
affect
\u00a0
warranty
\u00a0
estimates,
with
\u00a0
the
\u00a0
result
\u00a0
that
\u00a0
earlier
\u00a0
recognised
\u00a0
provisions
\u00a0
are
\u00a0
not
\u00a0
always
\u00a0
sufficient.
Net
\u00a0
sales
\u00a0
by
\u00a0
revenue
\u00a0
type
\u00a0
and
\u00a0
timing
\u00a0
of
\u00a0
satisfying
\u00a0
performance
\u00a0
obligations
2023
MEUR
Marine
Power
Marine
Systems
Energy
Portfolio
Business
Total
At
\u00a0
a
\u00a0
point
\u00a0
in
\u00a0
time
Products
807
169
427
72
1
\u00a0
475
Goods
\u00a0
and
\u00a0
services
428
69
122
78
697
Projects
986
50
330
84
1
\u00a0
450
Total
2
\u00a0
221
288
879
233
3
\u00a0
622
Over
\u00a0
time
Projects
57
198
1
\u00a0
297
136
1
\u00a0
688
Long-term
\u00a0
agreements
262
4
434
5
705
Total
319
202
1
\u00a0
731
141
2
\u00a0
393
Total
2
\u00a0
540
491
2
\u00a0
610
374
6
\u00a0
015
", "dimensions": { "concept": "ifrs-full:DisclosureOfEntitysReportableSegmentsExplanatory", "language": "en", "entity": "scheme:743700G7A9J1PHM3X223", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00" } }, "ID_15": { "value": "
2022
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
MEUR
Marine
Power
Marine
\u00a0
Systems
Energy
Portfolio
Business
Total
Net
\u00a0
sales
2
\u00a0
078
680
2
\u00a0
721
364
5
\u00a0
842
Depreciation
\u00a0
and
\u00a0
amortisation
-85
-14
-33
-13
-144
Impairment
-95
-22
-119
Share
\u00a0
of
\u00a0
result
\u00a0
of
\u00a0
associates
\u00a0
and
\u00a0
joint
\u00a0
ventures
6
6
Operating
\u00a0
result
-109
53
82
-52
-26
as
\u00a0
a
\u00a0
percentage
\u00a0
of
\u00a0
net
\u00a0
sales
\u00a0
(%)
-5,2
7,7
3,0
-14,1
-0,4
Items
\u00a0
affecting
\u00a0
comparability
-293
-8
-9
-42
-351
Comparable
\u00a0
operating
\u00a0
result
184
60
91
-10
325
as
\u00a0
a
\u00a0
percentage
\u00a0
of
\u00a0
net
\u00a0
sales
\u00a0
(%)
8,9
8,9
3,3
-2,7
5,6
\u00a0
\n
\u00a0
\n
\u00a0
\n
2022
MEUR
Marine
Power
Marine
Systems
Energy
Portfolio
Business
Total
At
\u00a0
a
\u00a0
point
\u00a0
in
\u00a0
time
Products
725
162
409
57
1
\u00a0
353
Goods
\u00a0
and
\u00a0
services
364
60
107
69
599
Projects
692
123
344
76
1
\u00a0
235
Total
1
\u00a0
781
345
860
201
3
\u00a0
187
Over
\u00a0
time
Projects
73
330
1
\u00a0
493
157
2
\u00a0
054
Long-term
\u00a0
agreements
224
4
368
6
602
Total
297
335
1
\u00a0
860
163
2
\u00a0
655
Total
2
\u00a0
078
680
2
\u00a0
721
364
5
\u00a0
842
The
\u00a0
segment
\u00a0
related
\u00a0
comparison
\u00a0
figures
\u00a0
for
\u00a0
2022
\u00a0
have
\u00a0
been
\u00a0
restated
\u00a0
to
\u00a0
reflect
\u00a0
the
\u00a0
current
\u00a0
organisational
structure.
", "dimensions": { "concept": "ifrs-full:DisclosureOfEntitysReportableSegmentsExplanatory", "language": "en", "entity": "scheme:743700G7A9J1PHM3X223", "period": "2022-01-01T00:00:00/2023-01-01T00:00:00" } }, "ID_16": { "value": "
Alternative
\u00a0
performance
\u00a0
measures
W\u00e4rtsil\u00e4
\u00a0
provides
\u00a0
certain
\u00a0
financial
\u00a0
performance
\u00a0
measures,
\u00a0
which
\u00a0
are
\u00a0
not
\u00a0
defined
\u00a0
by
\u00a0
Accounting
\u00a0
Standards.
These
\u00a0
alternative
\u00a0
performance
\u00a0
measures
\u00a0
are
\u00a0
followed
\u00a0
and
\u00a0
used
\u00a0
by
\u00a0
management
\u00a0
to
\u00a0
measure
\u00a0
the
\u00a0
Group's
performance
\u00a0
and
\u00a0
financial
\u00a0
position,
\u00a0
and
\u00a0
also
\u00a0
to
\u00a0
provide
\u00a0
useful
\u00a0
information
\u00a0
to
\u00a0
the
\u00a0
capital
\u00a0
markets.The
\u00a0
alternative
performance
\u00a0
measures
\u00a0
should
\u00a0
not
\u00a0
be
\u00a0
evaluated
\u00a0
in
\u00a0
isolation
\u00a0
from
\u00a0
the
\u00a0
corresponding
\u00a0
Accounting
\u00a0
Standards
measures.
\u00a0
The
\u00a0
alternative
\u00a0
performance
\u00a0
measure
\u00a0
calculation
\u00a0
definitions
\u00a0
are
\u00a0
disclosed
\u00a0
in
\u00a0
Calculations
\u00a0
of
financial
\u00a0
ratios.
W\u00e4rtsil\u00e4
\u00a0
discloses
\u00a0
certain
\u00a0
comparable
\u00a0
performance
\u00a0
measures
\u00a0
to
\u00a0
enhance
\u00a0
comparability
\u00a0
between
\u00a0
periods.
Certain
\u00a0
income
\u00a0
and
\u00a0
expenses
\u00a0
are
\u00a0
presented
\u00a0
as
\u00a0
items
\u00a0
affecting
\u00a0
comparability
\u00a0
when
\u00a0
they
\u00a0
have
\u00a0
significant
impact
\u00a0
on
\u00a0
the
\u00a0
consolidated
\u00a0
statement
\u00a0
of
\u00a0
income.
\u00a0
Items
\u00a0
affecting
\u00a0
comparability
\u00a0
consist
\u00a0
of
\u00a0
income
\u00a0
and
expenses,
\u00a0
which
\u00a0
result
\u00a0
from
\u00a0
restructuring
\u00a0
activities
\u00a0
aiming
\u00a0
to
\u00a0
adjust
\u00a0
the
\u00a0
capacity
\u00a0
of
\u00a0
W\u00e4rtsil\u00e4\u2019s
\u00a0
operations.
\u00a0
They
may
\u00a0
also
\u00a0
include
\u00a0
other
\u00a0
income
\u00a0
and
\u00a0
expenses
\u00a0
incurred
\u00a0
outside
\u00a0
W\u00e4rtsil\u00e4\u2019s
\u00a0
normal
\u00a0
course
\u00a0
of
\u00a0
business,
\u00a0
such
\u00a0
as
impairment
\u00a0
charges,
\u00a0
acquisition
\u00a0
related
\u00a0
costs,
\u00a0
settlements
\u00a0
recognised
\u00a0
as
\u00a0
a
\u00a0
result
\u00a0
of
\u00a0
legal
\u00a0
proceedings
\u00a0
with
third
\u00a0
parties
\u00a0
or
\u00a0
unforeseen
\u00a0
obligations
\u00a0
from
\u00a0
earlier
\u00a0
discontinued
\u00a0
businesses.
The
\u00a0
reconciliation
\u00a0
of
\u00a0
the
\u00a0
comparable
\u00a0
operating
\u00a0
result
\u00a0
to
\u00a0
the
\u00a0
operating
\u00a0
result
\u00a0
is
\u00a0
presented
\u00a0
in
\u00a0
the
\u00a0
following
\u00a0
table.
Measures
\u00a0
of
\u00a0
profit
\u00a0
and
\u00a0
items
\u00a0
affecting
\u00a0
comparability
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
MEUR
2023
2022
Comparable
\u00a0
adjusted
\u00a0
EBITA
518
349
Purchase
\u00a0
price
\u00a0
allocation
\u00a0
amortisation
-20
-23
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
Comparable
\u00a0
operating
\u00a0
result
497
325
Items
\u00a0
affecting
\u00a0
comparability:
Social
\u00a0
plan
\u00a0
costs
-42
-51
Impairment
\u00a0
and
\u00a0
write-downs
-43
-162
Gains
\u00a0
and
\u00a0
losses
\u00a0
from
\u00a0
disposals
11
-24
Other
\u00a0
costs
-21
-115
Items
\u00a0
affecting
\u00a0
comparability,
\u00a0
total
-95
-351
Operating
\u00a0
result
402
-26
The
\u00a0
financial
\u00a0
statements
\u00a0
include
\u00a0
EUR
\u00a0
47
\u00a0
million
\u00a0
of
\u00a0
costs
\u00a0
related
\u00a0
to
\u00a0
the
\u00a0
restructuring
\u00a0
of
\u00a0
engine
\u00a0
manufacturing
\u00a0
in
Europe,
\u00a0
EUR
\u00a0
45
\u00a0
million
\u00a0
of
\u00a0
impairment
\u00a0
related
\u00a0
to
\u00a0
goodwill
\u00a0
and
\u00a0
other
\u00a0
non-current
\u00a0
assets
\u00a0
in
\u00a0
Portfolio
\u00a0
Business,
EUR
\u00a0
9
\u00a0
million
\u00a0
of
\u00a0
impairment
\u00a0
of
\u00a0
intangible
\u00a0
assets
\u00a0
in
\u00a0
business
\u00a0
unit
\u00a0
Voyage
\u00a0
Services,
\u00a0
EUR
\u00a0
26
\u00a0
million
\u00a0
of
\u00a0
reversal
of
\u00a0
impairment
\u00a0
and
\u00a0
provisions
\u00a0
related
\u00a0
to
\u00a0
Russian
\u00a0
operations,
\u00a0
EUR
\u00a0
11
\u00a0
million
\u00a0
of
\u00a0
income
\u00a0
related
\u00a0
to
\u00a0
the
\u00a0
liquidation
of
\u00a0
W\u00e4rtsil\u00e4-CME
\u00a0
Zhenjiang
\u00a0
Propeller
\u00a0
Co.
\u00a0
Ltd.,
\u00a0
a
\u00a0
subsidiary
\u00a0
of
\u00a0
the
\u00a0
Group,
\u00a0
and
\u00a0
EUR
\u00a0
31
\u00a0
million
\u00a0
of
\u00a0
other
\u00a0
costs.
", "dimensions": { "concept": "ifrs-full:DisclosureOfProfitLossFromOperatingActivitiesExplanatory", "language": "en", "entity": "scheme:743700G7A9J1PHM3X223", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00" } }, "ID_17": { "value": "
Entity
\u00a0
wide
\u00a0
information
In
\u00a0
addition
\u00a0
to
\u00a0
segment
\u00a0
information,
\u00a0
W\u00e4rtsil\u00e4
\u00a0
reports
\u00a0
the
\u00a0
service
\u00a0
net
\u00a0
sales
\u00a0
for
\u00a0
all
\u00a0
segments
\u00a0
and
\u00a0
for
\u00a0
other
business
\u00a0
activities.
W\u00e4rtsil\u00e4
\u00a0
continues
\u00a0
to
\u00a0
report
\u00a0
information
\u00a0
on
\u00a0
the
\u00a0
geographical
\u00a0
areas
\u00a0
Finland,
\u00a0
other
\u00a0
European
\u00a0
countries,
\u00a0
Asia,
\u00a0
the
Americas,
\u00a0
and
\u00a0
other.
\u00a0
In
\u00a0
the
\u00a0
geographical
\u00a0
information
\u00a0
provided,
\u00a0
net
\u00a0
sales
\u00a0
are
\u00a0
split
\u00a0
by
\u00a0
customer
\u00a0
destination
\u00a0
and
non-current
\u00a0
assets
\u00a0
by
\u00a0
origin.
\u00a0
Non-current
\u00a0
assets
\u00a0
consist
\u00a0
of
\u00a0
goodwill,
\u00a0
intangible
\u00a0
assets,
\u00a0
property,
\u00a0
plant
\u00a0
and
equipment,
\u00a0
right-of-use
\u00a0
assets,
\u00a0
and
\u00a0
investments
\u00a0
in
\u00a0
associates
\u00a0
and
\u00a0
joint
\u00a0
ventures.
Geographical
\u00a0
information
During
\u00a0
the
\u00a0
financial
\u00a0
period
\u00a0
1
\u00a0
January
\u00a0
-
\u00a0
31
\u00a0
December
\u00a0
2023
\u00a0
and
\u00a0
1
\u00a0
January
\u00a0
-
\u00a0
31
\u00a0
December
\u00a0
2022
\u00a0
W\u00e4rtsil\u00e4
\u00a0
did
\u00a0
not
have
\u00a0
any
\u00a0
individual
\u00a0
significant
\u00a0
customers.
\u00a0
Of
\u00a0
the
\u00a0
total
\u00a0
net
\u00a0
sales,
\u00a0
sales
\u00a0
to
\u00a0
the
\u00a0
USA
\u00a0
represented
\u00a0
17%
\u00a0
(19)
\u00a0
and
sales
\u00a0
to
\u00a0
China
\u00a0
9%
\u00a0
(8).
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
MEUR
2023
2022
Net
\u00a0
sales
Finland
100
47
Other
\u00a0
European
\u00a0
countries
1
\u00a0
854
1
\u00a0
671
Asia
1
\u00a0
678
1
\u00a0
482
\u00a0
\n
\u00a0
\n
\u00a0
\n
The
\u00a0
Americas
1
\u00a0
757
2
\u00a0
062
Other
627
580
Total
6
\u00a0
015
5
\u00a0
842
Non-current
\u00a0
assets
Finland
604
555
Other
\u00a0
European
\u00a0
countries
1
\u00a0
317
1
\u00a0
364
Asia
108
108
The
\u00a0
Americas
235
237
Other
5
6
Total
2
\u00a0
270
2
\u00a0
270
Service
\u00a0
net
\u00a0
sales
MEUR
2023
2022
Net
\u00a0
sales
Marine
\u00a0
Power,
\u00a0
service
1
\u00a0
665
1
\u00a0
424
Marine
\u00a0
Systems,
\u00a0
service
225
211
Energy,
\u00a0
service
1
\u00a0
095
958
Portfolio
\u00a0
Business,
\u00a0
service
164
182
Total
3
\u00a0
148
2
\u00a0
775
2.2.
\u00a0
REVENUE
\u00a0
RECOGNITION
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
Accounting
\u00a0
principles
According
\u00a0
to
\u00a0
revenue
\u00a0
recognition
\u00a0
principles,
\u00a0
revenue
\u00a0
is
\u00a0
recognised
\u00a0
when
\u00a0
control
\u00a0
of
\u00a0
the
\u00a0
goods
\u00a0
or
\u00a0
services
\u00a0
is
transferred
\u00a0
to
\u00a0
the
\u00a0
customer
\u00a0
at
\u00a0
an
\u00a0
amount
\u00a0
that
\u00a0
reflects
\u00a0
the
\u00a0
consideration
\u00a0
to
\u00a0
which
\u00a0
the
\u00a0
Group
\u00a0
expects
\u00a0
to
\u00a0
be
entitled
\u00a0
in
\u00a0
exchange
\u00a0
for
\u00a0
those
\u00a0
goods
\u00a0
and
\u00a0
services.
\u00a0
The
\u00a0
Group
\u00a0
recognises
\u00a0
revenue
\u00a0
when
\u00a0
it
\u00a0
satisfies
\u00a0
an
identified
\u00a0
performance
\u00a0
obligation
\u00a0
by
\u00a0
transferring
\u00a0
promised
\u00a0
goods
\u00a0
or
\u00a0
services
\u00a0
to
\u00a0
the
\u00a0
customer.
\u00a0
Goods
\u00a0
and
services
\u00a0
are
\u00a0
generally
\u00a0
considered
\u00a0
to
\u00a0
be
\u00a0
transferred
\u00a0
when
\u00a0
the
\u00a0
customer
\u00a0
obtains
\u00a0
control
\u00a0
of
\u00a0
them.
\u00a0
Such
control
\u00a0
is
\u00a0
transferred
\u00a0
either
\u00a0
at
\u00a0
a
\u00a0
point
\u00a0
in
\u00a0
time
\u00a0
or
\u00a0
over
\u00a0
time.
\u00a0
Revenue
\u00a0
recognised
\u00a0
by
\u00a0
the
\u00a0
end
\u00a0
of
\u00a0
the
\u00a0
reporting
period
\u00a0
corresponds
\u00a0
to
\u00a0
the
\u00a0
benefit
\u00a0
of
\u00a0
the
\u00a0
service
\u00a0
provided
\u00a0
by
\u00a0
W\u00e4rtsil\u00e4
\u00a0
to
\u00a0
the
\u00a0
customer.
\u00a0
Revenue
\u00a0
is
\u00a0
presented
net
\u00a0
of
\u00a0
indirect
\u00a0
sales
\u00a0
taxes,
\u00a0
liquidated
\u00a0
damages,
\u00a0
and
\u00a0
discounts.
Revenue
\u00a0
recognised
\u00a0
over
\u00a0
time
\u00a0
is
\u00a0
measured
\u00a0
in
\u00a0
accordance
\u00a0
with
\u00a0
the
\u00a0
input
\u00a0
method
\u00a0
(progress
\u00a0
measured
based
\u00a0
on
\u00a0
costs
\u00a0
incurred)
\u00a0
when
\u00a0
the
\u00a0
outcome
\u00a0
of
\u00a0
the
\u00a0
contract
\u00a0
can
\u00a0
be
\u00a0
estimated
\u00a0
reliably.
\u00a0
When
\u00a0
the
\u00a0
outcome
cannot
\u00a0
be
\u00a0
reliably
\u00a0
determined,
\u00a0
the
\u00a0
costs
\u00a0
arising
\u00a0
are
\u00a0
expensed
\u00a0
in
\u00a0
the
\u00a0
same
\u00a0
reporting
\u00a0
period
\u00a0
in
\u00a0
which
\u00a0
they
occur,
\u00a0
but
\u00a0
the
\u00a0
revenue
\u00a0
is
\u00a0
recognised
\u00a0
only
\u00a0
to
\u00a0
the
\u00a0
extent
\u00a0
that
\u00a0
the
\u00a0
company
\u00a0
will
\u00a0
receive
\u00a0
an
\u00a0
amount
corresponding
\u00a0
to
\u00a0
actual
\u00a0
costs.
\u00a0
Any
\u00a0
losses
\u00a0
are
\u00a0
expensed
\u00a0
immediately.
\u00a0
If
\u00a0
revenue
\u00a0
for
\u00a0
goods
\u00a0
and
\u00a0
services
\u00a0
is
recognised
\u00a0
at
\u00a0
a
\u00a0
point
\u00a0
in
\u00a0
time,
\u00a0
it
\u00a0
is
\u00a0
when
\u00a0
control
\u00a0
is
\u00a0
transferred
\u00a0
to
\u00a0
the
\u00a0
customer.
\u00a0
The
\u00a0
transfer
\u00a0
of
\u00a0
control
\u00a0
is
based
\u00a0
mainly
\u00a0
on
\u00a0
transferring
\u00a0
risks
\u00a0
and
\u00a0
rewards
\u00a0
according
\u00a0
to
\u00a0
the
\u00a0
delivery
\u00a0
terms.
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
The
\u00a0
transaction
\u00a0
price
\u00a0
is
\u00a0
mainly
\u00a0
fixed
\u00a0
but
\u00a0
often
\u00a0
may
\u00a0
include
\u00a0
variable
\u00a0
considerations,
\u00a0
such
\u00a0
as
\u00a0
liquidated
damages,
\u00a0
performance
\u00a0
bonuses
\u00a0
and
\u00a0
discounts.
\u00a0
In
\u00a0
long-term
\u00a0
agreements,
\u00a0
different
\u00a0
variable
\u00a0
fees
\u00a0
are
common,
\u00a0
such
\u00a0
as
\u00a0
fees
\u00a0
based
\u00a0
on
\u00a0
power
\u00a0
plant
\u00a0
running
\u00a0
hours
\u00a0
or
\u00a0
megawatts
\u00a0
produced
\u00a0
in
\u00a0
Energy,
\u00a0
and
\u00a0
on
vessel
\u00a0
running
\u00a0
hours
\u00a0
in
\u00a0
Marine
\u00a0
Power.
\u00a0
These
\u00a0
estimated
\u00a0
fees
\u00a0
are
\u00a0
based
\u00a0
on
\u00a0
customer
\u00a0
future
\u00a0
load
\u00a0
plans
\u00a0
or
other
\u00a0
parameters,
\u00a0
such
\u00a0
as
\u00a0
historical
\u00a0
demand
\u00a0
trends.
\u00a0
Variable
\u00a0
consideration
\u00a0
is
\u00a0
included
\u00a0
in
\u00a0
the
\u00a0
revenue
\u00a0
only
to
\u00a0
the
\u00a0
extent
\u00a0
that
\u00a0
it
\u00a0
is
\u00a0
highly
\u00a0
probable
\u00a0
that
\u00a0
the
\u00a0
amount
\u00a0
will
\u00a0
not
\u00a0
be
\u00a0
subject
\u00a0
to
\u00a0
significant
\u00a0
reversal.
\u00a0
Transaction
prices
\u00a0
including
\u00a0
variable
\u00a0
components
\u00a0
are
\u00a0
reassessed
\u00a0
at
\u00a0
the
\u00a0
end
\u00a0
of
\u00a0
each
\u00a0
reporting
\u00a0
period.
W\u00e4rtsil\u00e4
\u00a0
often
\u00a0
requires
\u00a0
advance
\u00a0
payments
\u00a0
from
\u00a0
its
\u00a0
customers
\u00a0
or
\u00a0
invoices
\u00a0
customers
\u00a0
based
\u00a0
on
\u00a0
milestones.
Payment
\u00a0
terms
\u00a0
are
\u00a0
typical
\u00a0
to
\u00a0
the
\u00a0
business
\u00a0
and
\u00a0
advances
\u00a0
received
\u00a0
or
\u00a0
contract
\u00a0
assets
\u00a0
do
\u00a0
not
\u00a0
contain
financing
\u00a0
component
\u00a0
as
\u00a0
payment
\u00a0
schedules
\u00a0
follow
\u00a0
the
\u00a0
timing
\u00a0
of
\u00a0
the
\u00a0
performance
\u00a0
obligation
\u00a0
to
\u00a0
be
\u00a0
satisfied.
W\u00e4rtsil\u00e4
\u00a0
focuses
\u00a0
on
\u00a0
the
\u00a0
marine
\u00a0
and
\u00a0
energy
\u00a0
markets
\u00a0
with
\u00a0
products,
\u00a0
solutions,
\u00a0
and
\u00a0
services.
\u00a0
Revenue
\u00a0
from
contracts
\u00a0
with
\u00a0
customers
\u00a0
is
\u00a0
derived
\u00a0
from
\u00a0
four
\u00a0
revenue
\u00a0
types:
\u00a0
products,
\u00a0
goods
\u00a0
and
\u00a0
services,
\u00a0
projects,
\u00a0
and
long-term
\u00a0
agreements.
\u00a0
All
\u00a0
these
\u00a0
revenue
\u00a0
types
\u00a0
are
\u00a0
represented
\u00a0
within
\u00a0
all
\u00a0
reportable
\u00a0
segments
\u00a0
and
\u00a0
other
business
\u00a0
activities:
\u00a0
Marine
\u00a0
Power,
\u00a0
Marine
\u00a0
Systems,
\u00a0
Energy
\u00a0
and
\u00a0
Portfolio
\u00a0
Business.
Product
\u00a0
sales
\u00a0
consist
\u00a0
of
\u00a0
sales
\u00a0
of
\u00a0
spare
\u00a0
parts
\u00a0
and
\u00a0
standard
\u00a0
equipment,
\u00a0
for
\u00a0
which
\u00a0
the
\u00a0
revenue
\u00a0
is
\u00a0
recognised
at
\u00a0
a
\u00a0
point
\u00a0
in
\u00a0
time
\u00a0
when
\u00a0
the
\u00a0
control
\u00a0
of
\u00a0
the
\u00a0
product
\u00a0
has
\u00a0
transferred
\u00a0
to
\u00a0
the
\u00a0
customer,
\u00a0
in
\u00a0
general
\u00a0
upon
\u00a0
delivery
of
\u00a0
the
\u00a0
goods.
\u00a0
Product
\u00a0
sale
\u00a0
contracts
\u00a0
typically
\u00a0
include
\u00a0
one
\u00a0
performance
\u00a0
obligation.
Goods
\u00a0
and
\u00a0
services
\u00a0
-type
\u00a0
of
\u00a0
revenue
\u00a0
involves
\u00a0
short-term
\u00a0
field
\u00a0
service
\u00a0
jobs,
\u00a0
including
\u00a0
the
\u00a0
delivery
\u00a0
of
\u00a0
a
combination
\u00a0
of
\u00a0
service
\u00a0
and
\u00a0
equipment.
\u00a0
The
\u00a0
revenue
\u00a0
is
\u00a0
recognised
\u00a0
at
\u00a0
a
\u00a0
point
\u00a0
in
\u00a0
time
\u00a0
when
\u00a0
the
\u00a0
service
\u00a0
is
rendered.
\u00a0
Goods
\u00a0
and
\u00a0
service
\u00a0
-type
\u00a0
contracts,
\u00a0
generally
\u00a0
include
\u00a0
one
\u00a0
performance
\u00a0
obligation.
Projects
\u00a0
are
\u00a0
of
\u00a0
both
\u00a0
short-
\u00a0
and
\u00a0
long-term
\u00a0
in
\u00a0
duration.
\u00a0
Depending
\u00a0
on
\u00a0
the
\u00a0
contract
\u00a0
terms
\u00a0
and
\u00a0
the
\u00a0
duration
\u00a0
of
the
\u00a0
project,
\u00a0
the
\u00a0
revenue
\u00a0
is
\u00a0
recognised
\u00a0
at
\u00a0
a
\u00a0
point
\u00a0
in
\u00a0
time
\u00a0
or
\u00a0
over
\u00a0
time.
\u00a0
Revenue
\u00a0
from
\u00a0
tailor-made
\u00a0
equipment
delivery
\u00a0
projects
\u00a0
is
\u00a0
recognised
\u00a0
at
\u00a0
a
\u00a0
point
\u00a0
in
\u00a0
time
\u00a0
when
\u00a0
the
\u00a0
control
\u00a0
of
\u00a0
the
\u00a0
equipment
\u00a0
is
\u00a0
transferred,
\u00a0
in
\u00a0
general
upon
\u00a0
delivery.
\u00a0
These
\u00a0
contracts
\u00a0
generally
\u00a0
represent
\u00a0
one
\u00a0
performance
\u00a0
obligation,
\u00a0
but
\u00a0
under
\u00a0
certain
circumstances
\u00a0
they
\u00a0
can
\u00a0
contain
\u00a0
multiple
\u00a0
performance
\u00a0
obligations
\u00a0
when
\u00a0
a
\u00a0
contract
\u00a0
contains
\u00a0
multiple
\u00a0
units
\u00a0
of
delivery.
\u00a0
Tailor
\u00a0
-made
\u00a0
equipment
\u00a0
sales
\u00a0
are
\u00a0
mainly
\u00a0
in
\u00a0
Marine
\u00a0
Power,
\u00a0
for
\u00a0
example,
\u00a0
engine
\u00a0
and
\u00a0
propulsion
sales,
\u00a0
and
\u00a0
scrubber
\u00a0
system
\u00a0
sales
\u00a0
in
\u00a0
Marine
\u00a0
Systems.
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
In
\u00a0
long-term
\u00a0
projects,
\u00a0
such
\u00a0
as
\u00a0
large-scale
\u00a0
systems,
\u00a0
i.e.
\u00a0
power
\u00a0
plants
\u00a0
and
\u00a0
energy
\u00a0
storages
\u00a0
in
\u00a0
Energy,
\u00a0
and
gas
\u00a0
solutions
\u00a0
construction
\u00a0
contracts
\u00a0
in
\u00a0
Marine
\u00a0
Systems
\u00a0
or
\u00a0
equipment
\u00a0
deliveries
\u00a0
which
\u00a0
require
\u00a0
engineering,
the
\u00a0
revenue
\u00a0
is
\u00a0
recognised
\u00a0
over
\u00a0
time
\u00a0
as
\u00a0
the
\u00a0
asset
\u00a0
produced
\u00a0
does
\u00a0
not
\u00a0
have
\u00a0
alternative
\u00a0
use
\u00a0
and
\u00a0
the
\u00a0
Group
has
\u00a0
an
\u00a0
enforceable
\u00a0
right
\u00a0
to
\u00a0
payment.
\u00a0
These
\u00a0
contracts
\u00a0
usually
\u00a0
contain
\u00a0
one
\u00a0
performance
\u00a0
obligation.
\u00a0
The
progress
\u00a0
is
\u00a0
measured
\u00a0
by
\u00a0
using
\u00a0
the
\u00a0
cost-to-cost
\u00a0
method,
\u00a0
where
\u00a0
sales
\u00a0
and
\u00a0
profits
\u00a0
are
\u00a0
recognised
\u00a0
after
considering
\u00a0
the
\u00a0
ratio
\u00a0
of
\u00a0
accumulated
\u00a0
costs
\u00a0
to
\u00a0
estimated
\u00a0
total
\u00a0
costs
\u00a0
to
\u00a0
complete
\u00a0
each
\u00a0
contract.
\u00a0
Revenue
from
\u00a0
service-related
\u00a0
projects,
\u00a0
such
\u00a0
as
\u00a0
modernisation
\u00a0
and
\u00a0
upgrade
\u00a0
projects,
\u00a0
are
\u00a0
recognised
\u00a0
over
\u00a0
time
because
\u00a0
the
\u00a0
customer
\u00a0
typically
\u00a0
controls
\u00a0
the
\u00a0
asset
\u00a0
that
\u00a0
is
\u00a0
enhanced.
\u00a0
Service-related
\u00a0
projects
\u00a0
usually
\u00a0
contain
one
\u00a0
performance
\u00a0
obligation.
Long-term
\u00a0
agreements
\u00a0
include
\u00a0
long-term
\u00a0
operating
\u00a0
and
\u00a0
maintenance
\u00a0
agreements
\u00a0
for
\u00a0
which
\u00a0
the
\u00a0
revenue
\u00a0
is
recognised
\u00a0
over
\u00a0
time
\u00a0
because
\u00a0
the
\u00a0
customer
\u00a0
simultaneously
\u00a0
receives
\u00a0
and
\u00a0
consumes
\u00a0
the
\u00a0
service
\u00a0
provided.
Measuring
\u00a0
progress
\u00a0
is
\u00a0
based
\u00a0
on
\u00a0
cost-to-cost
\u00a0
method,
\u00a0
costs
\u00a0
of
\u00a0
actual
\u00a0
services
\u00a0
provided
\u00a0
as
\u00a0
a
\u00a0
proportion
\u00a0
of
the
\u00a0
costs
\u00a0
of
\u00a0
total
\u00a0
services
\u00a0
to
\u00a0
be
\u00a0
rendered.
\u00a0
These
\u00a0
contracts
\u00a0
typically
\u00a0
contain
\u00a0
one
\u00a0
performance
\u00a0
obligation
\u00a0
per
installation.
\u00a0
Long-term
\u00a0
agreements
\u00a0
mainly
\u00a0
generate
\u00a0
revenue
\u00a0
in
\u00a0
Energy
\u00a0
and
\u00a0
in
\u00a0
Marine
\u00a0
Power.
Contracts
\u00a0
with
\u00a0
customers
\u00a0
often
\u00a0
include
\u00a0
warranties
\u00a0
in
\u00a0
line
\u00a0
with
\u00a0
W\u00e4rtsil\u00e4\u2019s
\u00a0
General
\u00a0
terms
\u00a0
and
\u00a0
conditions,
which
\u00a0
are
\u00a0
regarded
\u00a0
as
\u00a0
part
\u00a0
of
\u00a0
the
\u00a0
promise
\u00a0
to
\u00a0
the
\u00a0
customer.
\u00a0
Typically,
\u00a0
the
\u00a0
standard
\u00a0
warranty
\u00a0
period
\u00a0
is
\u00a0
one
year
\u00a0
from
\u00a0
the
\u00a0
delivery
\u00a0
onwards.
\u00a0
Extended
\u00a0
warranties
\u00a0
or
\u00a0
warranties
\u00a0
purchased
\u00a0
as
\u00a0
an
\u00a0
option
\u00a0
are
\u00a0
identified
\u00a0
as
separate
\u00a0
performance
\u00a0
obligations
\u00a0
with
\u00a0
revenue
\u00a0
being
\u00a0
recognised
\u00a0
evenly
\u00a0
over
\u00a0
the
\u00a0
warranty
\u00a0
period.
The
\u00a0
Group
\u00a0
also
\u00a0
applies
\u00a0
the
\u00a0
practical
\u00a0
expedient
\u00a0
stated
\u00a0
in
\u00a0
IFRS
\u00a0
15.94
\u00a0
according
\u00a0
to
\u00a0
which
\u00a0
an
\u00a0
entity
\u00a0
can
recognise
\u00a0
the
\u00a0
incremental
\u00a0
costs
\u00a0
of
\u00a0
obtaining
\u00a0
a
\u00a0
contract
\u00a0
as
\u00a0
an
\u00a0
expense
\u00a0
when
\u00a0
incurred
\u00a0
if
\u00a0
the
\u00a0
amortisation
period
\u00a0
of
\u00a0
the
\u00a0
asset
\u00a0
that
\u00a0
the
\u00a0
entity
\u00a0
would
\u00a0
have
\u00a0
recognised
\u00a0
is
\u00a0
one
\u00a0
year
\u00a0
or
\u00a0
less.
\u00a0
W\u00e4rtsil\u00e4
\u00a0
has
\u00a0
not
\u00a0
incurred
\u00a0
any
costs
\u00a0
for
\u00a0
obtaining
\u00a0
a
\u00a0
contract
\u00a0
to
\u00a0
be
\u00a0
recognised
\u00a0
as
\u00a0
an
\u00a0
asset.
Information
\u00a0
on
\u00a0
contract
\u00a0
assets
\u00a0
and
\u00a0
liabilities
\u00a0
is
\u00a0
available
\u00a0
in
\u00a0
Note
\u00a0
4.2.
\u00a0
Trade
\u00a0
receivables
\u00a0
and
\u00a0
contract
\u00a0
assets
and
\u00a0
liabilities.
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
Accounting
\u00a0
estimates
\u00a0
and
\u00a0
judgements
Revenue
\u00a0
from
\u00a0
certain
\u00a0
projects
\u00a0
and
\u00a0
long-term
\u00a0
agreements
\u00a0
is
\u00a0
recognised
\u00a0
over
\u00a0
time
\u00a0
according
\u00a0
to
\u00a0
the
\u00a0
input
method
\u00a0
when
\u00a0
the
\u00a0
profit
\u00a0
on
\u00a0
the
\u00a0
project
\u00a0
or
\u00a0
agreement
\u00a0
can
\u00a0
be
\u00a0
reliably
\u00a0
determined.
\u00a0
The
\u00a0
progress
\u00a0
and
\u00a0
the
profitability
\u00a0
are
\u00a0
based
\u00a0
on
\u00a0
management\u2019s
\u00a0
estimates,
\u00a0
which
\u00a0
require
\u00a0
significant
\u00a0
judgement
\u00a0
concerning
\u00a0
the
stage
\u00a0
of
\u00a0
completion,
\u00a0
the
\u00a0
cost
\u00a0
to
\u00a0
complete,
\u00a0
and
\u00a0
the
\u00a0
time
\u00a0
of
\u00a0
completion.
\u00a0
These
\u00a0
estimates
\u00a0
are
\u00a0
reviewed
regularly.
\u00a0
Revenue
\u00a0
and
\u00a0
costs
\u00a0
recognised
\u00a0
are
\u00a0
adjusted
\u00a0
during
\u00a0
the
\u00a0
project
\u00a0
when
\u00a0
assumptions
\u00a0
concerning
\u00a0
the
outcome
\u00a0
of
\u00a0
the
\u00a0
entire
\u00a0
project
\u00a0
are
\u00a0
updated.
\u00a0
Changes
\u00a0
in
\u00a0
assumptions
\u00a0
relate
\u00a0
to
\u00a0
changes
\u00a0
in
\u00a0
the
\u00a0
project\u2019s
\u00a0
or
agreement\u2019s
\u00a0
schedule,
\u00a0
the
\u00a0
scope
\u00a0
of
\u00a0
supply,
\u00a0
technology,
\u00a0
costs,
\u00a0
and
\u00a0
any
\u00a0
other
\u00a0
relevant
\u00a0
factors.
Establishing
\u00a0
whether
\u00a0
distinct
\u00a0
goods
\u00a0
or
\u00a0
services
\u00a0
are
\u00a0
considered
\u00a0
as
\u00a0
separate
\u00a0
performance
\u00a0
obligations
requires
\u00a0
judgement
\u00a0
and
\u00a0
might
\u00a0
impact
\u00a0
the
\u00a0
timing
\u00a0
and
\u00a0
amount
\u00a0
of
\u00a0
revenue
\u00a0
recognition.
Project
\u00a0
business
\u00a0
contracts
\u00a0
usually
\u00a0
involve
\u00a0
elements
\u00a0
of
\u00a0
variable
\u00a0
consideration.
\u00a0
At
\u00a0
the
\u00a0
end
\u00a0
of
\u00a0
each
\u00a0
reporting
period,
\u00a0
management
\u00a0
reassesses
\u00a0
the
\u00a0
transaction
\u00a0
price,
\u00a0
which
\u00a0
requires
\u00a0
significant
\u00a0
judgement
\u00a0
as
\u00a0
it
\u00a0
affects
\u00a0
the
timing
\u00a0
of
\u00a0
the
\u00a0
revenue
\u00a0
recognition.
\u00a0
The
\u00a0
valuation
\u00a0
of
\u00a0
accounts
\u00a0
receivables
\u00a0
also
\u00a0
includes
\u00a0
estimates
\u00a0
mainly
concerning
\u00a0
the
\u00a0
recoverability
\u00a0
of
\u00a0
receivables.
Determining
\u00a0
whether
\u00a0
different
\u00a0
contracts
\u00a0
with
\u00a0
the
\u00a0
same
\u00a0
customer
\u00a0
are
\u00a0
accounted
\u00a0
for
\u00a0
as
\u00a0
one
\u00a0
contract
\u00a0
involves
the
\u00a0
use
\u00a0
of
\u00a0
judgement,
\u00a0
as
\u00a0
it
\u00a0
requires
\u00a0
an
\u00a0
assessment
\u00a0
of
\u00a0
whether
\u00a0
the
\u00a0
contracts
\u00a0
are
\u00a0
negotiated
\u00a0
together
\u00a0
or
linked
\u00a0
in
\u00a0
any
\u00a0
other
\u00a0
way.
\u00a0
The
\u00a0
timing
\u00a0
and
\u00a0
amount
\u00a0
of
\u00a0
revenue
\u00a0
recognition
\u00a0
can
\u00a0
vary
\u00a0
depending
\u00a0
on
\u00a0
whether
\u00a0
two
contracts
\u00a0
are
\u00a0
accounted
\u00a0
for
\u00a0
separately,
\u00a0
or
\u00a0
as
\u00a0
one
\u00a0
single
\u00a0
arrangement.
Warranty
\u00a0
provisions
\u00a0
are
\u00a0
recognised
\u00a0
when
\u00a0
goods
\u00a0
and
\u00a0
services
\u00a0
have
\u00a0
been
\u00a0
rendered
\u00a0
to
\u00a0
the
\u00a0
customer.
\u00a0
The
provision
\u00a0
is
\u00a0
based
\u00a0
on
\u00a0
the
\u00a0
accumulated
\u00a0
experience
\u00a0
of
\u00a0
the
\u00a0
level
\u00a0
of
\u00a0
warranty
\u00a0
needed
\u00a0
to
\u00a0
manage
\u00a0
future
\u00a0
and
current
\u00a0
cost
\u00a0
claims.
\u00a0
Products
\u00a0
can
\u00a0
contain
\u00a0
new
\u00a0
and
\u00a0
complex
\u00a0
technology
\u00a0
that
\u00a0
can
\u00a0
affect
\u00a0
warranty
\u00a0
estimates,
with
\u00a0
the
\u00a0
result
\u00a0
that
\u00a0
earlier
\u00a0
recognised
\u00a0
provisions
\u00a0
are
\u00a0
not
\u00a0
always
\u00a0
sufficient.
Net
\u00a0
sales
\u00a0
by
\u00a0
revenue
\u00a0
type
\u00a0
and
\u00a0
timing
\u00a0
of
\u00a0
satisfying
\u00a0
performance
\u00a0
obligations
2023
MEUR
Marine
Power
Marine
Systems
Energy
Portfolio
Business
Total
At
\u00a0
a
\u00a0
point
\u00a0
in
\u00a0
time
Products
807
169
427
72
1
\u00a0
475
Goods
\u00a0
and
\u00a0
services
428
69
122
78
697
Projects
986
50
330
84
1
\u00a0
450
Total
2
\u00a0
221
288
879
233
3
\u00a0
622
Over
\u00a0
time
Projects
57
198
1
\u00a0
297
136
1
\u00a0
688
Long-term
\u00a0
agreements
262
4
434
5
705
Total
319
202
1
\u00a0
731
141
2
\u00a0
393
Total
2
\u00a0
540
491
2
\u00a0
610
374
6
\u00a0
015
", "dimensions": { "concept": "ifrs-full:DisclosureOfRevenueExplanatory", "language": "en", "entity": "scheme:743700G7A9J1PHM3X223", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00" } }, "ID_19": { "value": "
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\n
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\n
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\n
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\n
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\n
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\n
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\n
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\n
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\n
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\n
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\n
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\n
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\n
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\n
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\n
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\n
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\n
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\n
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\n
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\n
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\n
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\n
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\n
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\n
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\n
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\n
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\n
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\n
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\n
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\n
\u00a0
\n
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\n
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\n
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\n
\u00a0
\n
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\n
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\n
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\n
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\n
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\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
Accounting
\u00a0
principles
According
\u00a0
to
\u00a0
revenue
\u00a0
recognition
\u00a0
principles,
\u00a0
revenue
\u00a0
is
\u00a0
recognised
\u00a0
when
\u00a0
control
\u00a0
of
\u00a0
the
\u00a0
goods
\u00a0
or
\u00a0
services
\u00a0
is
transferred
\u00a0
to
\u00a0
the
\u00a0
customer
\u00a0
at
\u00a0
an
\u00a0
amount
\u00a0
that
\u00a0
reflects
\u00a0
the
\u00a0
consideration
\u00a0
to
\u00a0
which
\u00a0
the
\u00a0
Group
\u00a0
expects
\u00a0
to
\u00a0
be
entitled
\u00a0
in
\u00a0
exchange
\u00a0
for
\u00a0
those
\u00a0
goods
\u00a0
and
\u00a0
services.
\u00a0
The
\u00a0
Group
\u00a0
recognises
\u00a0
revenue
\u00a0
when
\u00a0
it
\u00a0
satisfies
\u00a0
an
identified
\u00a0
performance
\u00a0
obligation
\u00a0
by
\u00a0
transferring
\u00a0
promised
\u00a0
goods
\u00a0
or
\u00a0
services
\u00a0
to
\u00a0
the
\u00a0
customer.
\u00a0
Goods
\u00a0
and
services
\u00a0
are
\u00a0
generally
\u00a0
considered
\u00a0
to
\u00a0
be
\u00a0
transferred
\u00a0
when
\u00a0
the
\u00a0
customer
\u00a0
obtains
\u00a0
control
\u00a0
of
\u00a0
them.
\u00a0
Such
control
\u00a0
is
\u00a0
transferred
\u00a0
either
\u00a0
at
\u00a0
a
\u00a0
point
\u00a0
in
\u00a0
time
\u00a0
or
\u00a0
over
\u00a0
time.
\u00a0
Revenue
\u00a0
recognised
\u00a0
by
\u00a0
the
\u00a0
end
\u00a0
of
\u00a0
the
\u00a0
reporting
period
\u00a0
corresponds
\u00a0
to
\u00a0
the
\u00a0
benefit
\u00a0
of
\u00a0
the
\u00a0
service
\u00a0
provided
\u00a0
by
\u00a0
W\u00e4rtsil\u00e4
\u00a0
to
\u00a0
the
\u00a0
customer.
\u00a0
Revenue
\u00a0
is
\u00a0
presented
net
\u00a0
of
\u00a0
indirect
\u00a0
sales
\u00a0
taxes,
\u00a0
liquidated
\u00a0
damages,
\u00a0
and
\u00a0
discounts.
Revenue
\u00a0
recognised
\u00a0
over
\u00a0
time
\u00a0
is
\u00a0
measured
\u00a0
in
\u00a0
accordance
\u00a0
with
\u00a0
the
\u00a0
input
\u00a0
method
\u00a0
(progress
\u00a0
measured
based
\u00a0
on
\u00a0
costs
\u00a0
incurred)
\u00a0
when
\u00a0
the
\u00a0
outcome
\u00a0
of
\u00a0
the
\u00a0
contract
\u00a0
can
\u00a0
be
\u00a0
estimated
\u00a0
reliably.
\u00a0
When
\u00a0
the
\u00a0
outcome
cannot
\u00a0
be
\u00a0
reliably
\u00a0
determined,
\u00a0
the
\u00a0
costs
\u00a0
arising
\u00a0
are
\u00a0
expensed
\u00a0
in
\u00a0
the
\u00a0
same
\u00a0
reporting
\u00a0
period
\u00a0
in
\u00a0
which
\u00a0
they
occur,
\u00a0
but
\u00a0
the
\u00a0
revenue
\u00a0
is
\u00a0
recognised
\u00a0
only
\u00a0
to
\u00a0
the
\u00a0
extent
\u00a0
that
\u00a0
the
\u00a0
company
\u00a0
will
\u00a0
receive
\u00a0
an
\u00a0
amount
corresponding
\u00a0
to
\u00a0
actual
\u00a0
costs.
\u00a0
Any
\u00a0
losses
\u00a0
are
\u00a0
expensed
\u00a0
immediately.
\u00a0
If
\u00a0
revenue
\u00a0
for
\u00a0
goods
\u00a0
and
\u00a0
services
\u00a0
is
recognised
\u00a0
at
\u00a0
a
\u00a0
point
\u00a0
in
\u00a0
time,
\u00a0
it
\u00a0
is
\u00a0
when
\u00a0
control
\u00a0
is
\u00a0
transferred
\u00a0
to
\u00a0
the
\u00a0
customer.
\u00a0
The
\u00a0
transfer
\u00a0
of
\u00a0
control
\u00a0
is
based
\u00a0
mainly
\u00a0
on
\u00a0
transferring
\u00a0
risks
\u00a0
and
\u00a0
rewards
\u00a0
according
\u00a0
to
\u00a0
the
\u00a0
delivery
\u00a0
terms.
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
The
\u00a0
transaction
\u00a0
price
\u00a0
is
\u00a0
mainly
\u00a0
fixed
\u00a0
but
\u00a0
often
\u00a0
may
\u00a0
include
\u00a0
variable
\u00a0
considerations,
\u00a0
such
\u00a0
as
\u00a0
liquidated
damages,
\u00a0
performance
\u00a0
bonuses
\u00a0
and
\u00a0
discounts.
\u00a0
In
\u00a0
long-term
\u00a0
agreements,
\u00a0
different
\u00a0
variable
\u00a0
fees
\u00a0
are
common,
\u00a0
such
\u00a0
as
\u00a0
fees
\u00a0
based
\u00a0
on
\u00a0
power
\u00a0
plant
\u00a0
running
\u00a0
hours
\u00a0
or
\u00a0
megawatts
\u00a0
produced
\u00a0
in
\u00a0
Energy,
\u00a0
and
\u00a0
on
vessel
\u00a0
running
\u00a0
hours
\u00a0
in
\u00a0
Marine
\u00a0
Power.
\u00a0
These
\u00a0
estimated
\u00a0
fees
\u00a0
are
\u00a0
based
\u00a0
on
\u00a0
customer
\u00a0
future
\u00a0
load
\u00a0
plans
\u00a0
or
other
\u00a0
parameters,
\u00a0
such
\u00a0
as
\u00a0
historical
\u00a0
demand
\u00a0
trends.
\u00a0
Variable
\u00a0
consideration
\u00a0
is
\u00a0
included
\u00a0
in
\u00a0
the
\u00a0
revenue
\u00a0
only
to
\u00a0
the
\u00a0
extent
\u00a0
that
\u00a0
it
\u00a0
is
\u00a0
highly
\u00a0
probable
\u00a0
that
\u00a0
the
\u00a0
amount
\u00a0
will
\u00a0
not
\u00a0
be
\u00a0
subject
\u00a0
to
\u00a0
significant
\u00a0
reversal.
\u00a0
Transaction
prices
\u00a0
including
\u00a0
variable
\u00a0
components
\u00a0
are
\u00a0
reassessed
\u00a0
at
\u00a0
the
\u00a0
end
\u00a0
of
\u00a0
each
\u00a0
reporting
\u00a0
period.
W\u00e4rtsil\u00e4
\u00a0
often
\u00a0
requires
\u00a0
advance
\u00a0
payments
\u00a0
from
\u00a0
its
\u00a0
customers
\u00a0
or
\u00a0
invoices
\u00a0
customers
\u00a0
based
\u00a0
on
\u00a0
milestones.
Payment
\u00a0
terms
\u00a0
are
\u00a0
typical
\u00a0
to
\u00a0
the
\u00a0
business
\u00a0
and
\u00a0
advances
\u00a0
received
\u00a0
or
\u00a0
contract
\u00a0
assets
\u00a0
do
\u00a0
not
\u00a0
contain
financing
\u00a0
component
\u00a0
as
\u00a0
payment
\u00a0
schedules
\u00a0
follow
\u00a0
the
\u00a0
timing
\u00a0
of
\u00a0
the
\u00a0
performance
\u00a0
obligation
\u00a0
to
\u00a0
be
\u00a0
satisfied.
W\u00e4rtsil\u00e4
\u00a0
focuses
\u00a0
on
\u00a0
the
\u00a0
marine
\u00a0
and
\u00a0
energy
\u00a0
markets
\u00a0
with
\u00a0
products,
\u00a0
solutions,
\u00a0
and
\u00a0
services.
\u00a0
Revenue
\u00a0
from
contracts
\u00a0
with
\u00a0
customers
\u00a0
is
\u00a0
derived
\u00a0
from
\u00a0
four
\u00a0
revenue
\u00a0
types:
\u00a0
products,
\u00a0
goods
\u00a0
and
\u00a0
services,
\u00a0
projects,
\u00a0
and
long-term
\u00a0
agreements.
\u00a0
All
\u00a0
these
\u00a0
revenue
\u00a0
types
\u00a0
are
\u00a0
represented
\u00a0
within
\u00a0
all
\u00a0
reportable
\u00a0
segments
\u00a0
and
\u00a0
other
business
\u00a0
activities:
\u00a0
Marine
\u00a0
Power,
\u00a0
Marine
\u00a0
Systems,
\u00a0
Energy
\u00a0
and
\u00a0
Portfolio
\u00a0
Business.
Product
\u00a0
sales
\u00a0
consist
\u00a0
of
\u00a0
sales
\u00a0
of
\u00a0
spare
\u00a0
parts
\u00a0
and
\u00a0
standard
\u00a0
equipment,
\u00a0
for
\u00a0
which
\u00a0
the
\u00a0
revenue
\u00a0
is
\u00a0
recognised
at
\u00a0
a
\u00a0
point
\u00a0
in
\u00a0
time
\u00a0
when
\u00a0
the
\u00a0
control
\u00a0
of
\u00a0
the
\u00a0
product
\u00a0
has
\u00a0
transferred
\u00a0
to
\u00a0
the
\u00a0
customer,
\u00a0
in
\u00a0
general
\u00a0
upon
\u00a0
delivery
of
\u00a0
the
\u00a0
goods.
\u00a0
Product
\u00a0
sale
\u00a0
contracts
\u00a0
typically
\u00a0
include
\u00a0
one
\u00a0
performance
\u00a0
obligation.
Goods
\u00a0
and
\u00a0
services
\u00a0
-type
\u00a0
of
\u00a0
revenue
\u00a0
involves
\u00a0
short-term
\u00a0
field
\u00a0
service
\u00a0
jobs,
\u00a0
including
\u00a0
the
\u00a0
delivery
\u00a0
of
\u00a0
a
combination
\u00a0
of
\u00a0
service
\u00a0
and
\u00a0
equipment.
\u00a0
The
\u00a0
revenue
\u00a0
is
\u00a0
recognised
\u00a0
at
\u00a0
a
\u00a0
point
\u00a0
in
\u00a0
time
\u00a0
when
\u00a0
the
\u00a0
service
\u00a0
is
rendered.
\u00a0
Goods
\u00a0
and
\u00a0
service
\u00a0
-type
\u00a0
contracts,
\u00a0
generally
\u00a0
include
\u00a0
one
\u00a0
performance
\u00a0
obligation.
Projects
\u00a0
are
\u00a0
of
\u00a0
both
\u00a0
short-
\u00a0
and
\u00a0
long-term
\u00a0
in
\u00a0
duration.
\u00a0
Depending
\u00a0
on
\u00a0
the
\u00a0
contract
\u00a0
terms
\u00a0
and
\u00a0
the
\u00a0
duration
\u00a0
of
the
\u00a0
project,
\u00a0
the
\u00a0
revenue
\u00a0
is
\u00a0
recognised
\u00a0
at
\u00a0
a
\u00a0
point
\u00a0
in
\u00a0
time
\u00a0
or
\u00a0
over
\u00a0
time.
\u00a0
Revenue
\u00a0
from
\u00a0
tailor-made
\u00a0
equipment
delivery
\u00a0
projects
\u00a0
is
\u00a0
recognised
\u00a0
at
\u00a0
a
\u00a0
point
\u00a0
in
\u00a0
time
\u00a0
when
\u00a0
the
\u00a0
control
\u00a0
of
\u00a0
the
\u00a0
equipment
\u00a0
is
\u00a0
transferred,
\u00a0
in
\u00a0
general
upon
\u00a0
delivery.
\u00a0
These
\u00a0
contracts
\u00a0
generally
\u00a0
represent
\u00a0
one
\u00a0
performance
\u00a0
obligation,
\u00a0
but
\u00a0
under
\u00a0
certain
circumstances
\u00a0
they
\u00a0
can
\u00a0
contain
\u00a0
multiple
\u00a0
performance
\u00a0
obligations
\u00a0
when
\u00a0
a
\u00a0
contract
\u00a0
contains
\u00a0
multiple
\u00a0
units
\u00a0
of
delivery.
\u00a0
Tailor
\u00a0
-made
\u00a0
equipment
\u00a0
sales
\u00a0
are
\u00a0
mainly
\u00a0
in
\u00a0
Marine
\u00a0
Power,
\u00a0
for
\u00a0
example,
\u00a0
engine
\u00a0
and
\u00a0
propulsion
sales,
\u00a0
and
\u00a0
scrubber
\u00a0
system
\u00a0
sales
\u00a0
in
\u00a0
Marine
\u00a0
Systems.
\u00a0
\n
\u00a0
\n
\u00a0
\n
In
\u00a0
long-term
\u00a0
projects,
\u00a0
such
\u00a0
as
\u00a0
large-scale
\u00a0
systems,
\u00a0
i.e.
\u00a0
power
\u00a0
plants
\u00a0
and
\u00a0
energy
\u00a0
storages
\u00a0
in
\u00a0
Energy,
\u00a0
and
gas
\u00a0
solutions
\u00a0
construction
\u00a0
contracts
\u00a0
in
\u00a0
Marine
\u00a0
Systems
\u00a0
or
\u00a0
equipment
\u00a0
deliveries
\u00a0
which
\u00a0
require
\u00a0
engineering,
the
\u00a0
revenue
\u00a0
is
\u00a0
recognised
\u00a0
over
\u00a0
time
\u00a0
as
\u00a0
the
\u00a0
asset
\u00a0
produced
\u00a0
does
\u00a0
not
\u00a0
have
\u00a0
alternative
\u00a0
use
\u00a0
and
\u00a0
the
\u00a0
Group
has
\u00a0
an
\u00a0
enforceable
\u00a0
right
\u00a0
to
\u00a0
payment.
\u00a0
These
\u00a0
contracts
\u00a0
usually
\u00a0
contain
\u00a0
one
\u00a0
performance
\u00a0
obligation.
\u00a0
The
progress
\u00a0
is
\u00a0
measured
\u00a0
by
\u00a0
using
\u00a0
the
\u00a0
cost-to-cost
\u00a0
method,
\u00a0
where
\u00a0
sales
\u00a0
and
\u00a0
profits
\u00a0
are
\u00a0
recognised
\u00a0
after
considering
\u00a0
the
\u00a0
ratio
\u00a0
of
\u00a0
accumulated
\u00a0
costs
\u00a0
to
\u00a0
estimated
\u00a0
total
\u00a0
costs
\u00a0
to
\u00a0
complete
\u00a0
each
\u00a0
contract.
\u00a0
Revenue
from
\u00a0
service-related
\u00a0
projects,
\u00a0
such
\u00a0
as
\u00a0
modernisation
\u00a0
and
\u00a0
upgrade
\u00a0
projects,
\u00a0
are
\u00a0
recognised
\u00a0
over
\u00a0
time
because
\u00a0
the
\u00a0
customer
\u00a0
typically
\u00a0
controls
\u00a0
the
\u00a0
asset
\u00a0
that
\u00a0
is
\u00a0
enhanced.
\u00a0
Service-related
\u00a0
projects
\u00a0
usually
\u00a0
contain
one
\u00a0
performance
\u00a0
obligation.
Long-term
\u00a0
agreements
\u00a0
include
\u00a0
long-term
\u00a0
operating
\u00a0
and
\u00a0
maintenance
\u00a0
agreements
\u00a0
for
\u00a0
which
\u00a0
the
\u00a0
revenue
\u00a0
is
recognised
\u00a0
over
\u00a0
time
\u00a0
because
\u00a0
the
\u00a0
customer
\u00a0
simultaneously
\u00a0
receives
\u00a0
and
\u00a0
consumes
\u00a0
the
\u00a0
service
\u00a0
provided.
Measuring
\u00a0
progress
\u00a0
is
\u00a0
based
\u00a0
on
\u00a0
cost-to-cost
\u00a0
method,
\u00a0
costs
\u00a0
of
\u00a0
actual
\u00a0
services
\u00a0
provided
\u00a0
as
\u00a0
a
\u00a0
proportion
\u00a0
of
the
\u00a0
costs
\u00a0
of
\u00a0
total
\u00a0
services
\u00a0
to
\u00a0
be
\u00a0
rendered.
\u00a0
These
\u00a0
contracts
\u00a0
typically
\u00a0
contain
\u00a0
one
\u00a0
performance
\u00a0
obligation
\u00a0
per
installation.
\u00a0
Long-term
\u00a0
agreements
\u00a0
mainly
\u00a0
generate
\u00a0
revenue
\u00a0
in
\u00a0
Energy
\u00a0
and
\u00a0
in
\u00a0
Marine
\u00a0
Power.
Contracts
\u00a0
with
\u00a0
customers
\u00a0
often
\u00a0
include
\u00a0
warranties
\u00a0
in
\u00a0
line
\u00a0
with
\u00a0
W\u00e4rtsil\u00e4\u2019s
\u00a0
General
\u00a0
terms
\u00a0
and
\u00a0
conditions,
which
\u00a0
are
\u00a0
regarded
\u00a0
as
\u00a0
part
\u00a0
of
\u00a0
the
\u00a0
promise
\u00a0
to
\u00a0
the
\u00a0
customer.
\u00a0
Typically,
\u00a0
the
\u00a0
standard
\u00a0
warranty
\u00a0
period
\u00a0
is
\u00a0
one
year
\u00a0
from
\u00a0
the
\u00a0
delivery
\u00a0
onwards.
\u00a0
Extended
\u00a0
warranties
\u00a0
or
\u00a0
warranties
\u00a0
purchased
\u00a0
as
\u00a0
an
\u00a0
option
\u00a0
are
\u00a0
identified
\u00a0
as
separate
\u00a0
performance
\u00a0
obligations
\u00a0
with
\u00a0
revenue
\u00a0
being
\u00a0
recognised
\u00a0
evenly
\u00a0
over
\u00a0
the
\u00a0
warranty
\u00a0
period.
The
\u00a0
Group
\u00a0
also
\u00a0
applies
\u00a0
the
\u00a0
practical
\u00a0
expedient
\u00a0
stated
\u00a0
in
\u00a0
IFRS
\u00a0
15.94
\u00a0
according
\u00a0
to
\u00a0
which
\u00a0
an
\u00a0
entity
\u00a0
can
recognise
\u00a0
the
\u00a0
incremental
\u00a0
costs
\u00a0
of
\u00a0
obtaining
\u00a0
a
\u00a0
contract
\u00a0
as
\u00a0
an
\u00a0
expense
\u00a0
when
\u00a0
incurred
\u00a0
if
\u00a0
the
\u00a0
amortisation
period
\u00a0
of
\u00a0
the
\u00a0
asset
\u00a0
that
\u00a0
the
\u00a0
entity
\u00a0
would
\u00a0
have
\u00a0
recognised
\u00a0
is
\u00a0
one
\u00a0
year
\u00a0
or
\u00a0
less.
\u00a0
W\u00e4rtsil\u00e4
\u00a0
has
\u00a0
not
\u00a0
incurred
\u00a0
any
costs
\u00a0
for
\u00a0
obtaining
\u00a0
a
\u00a0
contract
\u00a0
to
\u00a0
be
\u00a0
recognised
\u00a0
as
\u00a0
an
\u00a0
asset.
Information
\u00a0
on
\u00a0
contract
\u00a0
assets
\u00a0
and
\u00a0
liabilities
\u00a0
is
\u00a0
available
\u00a0
in
\u00a0
Note
\u00a0
4.2.
\u00a0
Trade
\u00a0
receivables
\u00a0
and
\u00a0
contract
\u00a0
assets
and
\u00a0
liabilities.
", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForRecognitionOfRevenue", "language": "en", "entity": "scheme:743700G7A9J1PHM3X223", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00" } }, "ID_20": { "value": "
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
The
\u00a0
transaction
\u00a0
price
\u00a0
is
\u00a0
mainly
\u00a0
fixed
\u00a0
but
\u00a0
often
\u00a0
may
\u00a0
include
\u00a0
variable
\u00a0
considerations,
\u00a0
such
\u00a0
as
\u00a0
liquidated
damages,
\u00a0
performance
\u00a0
bonuses
\u00a0
and
\u00a0
discounts.
\u00a0
In
\u00a0
long-term
\u00a0
agreements,
\u00a0
different
\u00a0
variable
\u00a0
fees
\u00a0
are
common,
\u00a0
such
\u00a0
as
\u00a0
fees
\u00a0
based
\u00a0
on
\u00a0
power
\u00a0
plant
\u00a0
running
\u00a0
hours
\u00a0
or
\u00a0
megawatts
\u00a0
produced
\u00a0
in
\u00a0
Energy,
\u00a0
and
\u00a0
on
vessel
\u00a0
running
\u00a0
hours
\u00a0
in
\u00a0
Marine
\u00a0
Power.
\u00a0
These
\u00a0
estimated
\u00a0
fees
\u00a0
are
\u00a0
based
\u00a0
on
\u00a0
customer
\u00a0
future
\u00a0
load
\u00a0
plans
\u00a0
or
other
\u00a0
parameters,
\u00a0
such
\u00a0
as
\u00a0
historical
\u00a0
demand
\u00a0
trends.
\u00a0
Variable
\u00a0
consideration
\u00a0
is
\u00a0
included
\u00a0
in
\u00a0
the
\u00a0
revenue
\u00a0
only
to
\u00a0
the
\u00a0
extent
\u00a0
that
\u00a0
it
\u00a0
is
\u00a0
highly
\u00a0
probable
\u00a0
that
\u00a0
the
\u00a0
amount
\u00a0
will
\u00a0
not
\u00a0
be
\u00a0
subject
\u00a0
to
\u00a0
significant
\u00a0
reversal.
\u00a0
Transaction
prices
\u00a0
including
\u00a0
variable
\u00a0
components
\u00a0
are
\u00a0
reassessed
\u00a0
at
\u00a0
the
\u00a0
end
\u00a0
of
\u00a0
each
\u00a0
reporting
\u00a0
period.
", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForDiscountsAndRebatesExplanatory", "language": "en", "entity": "scheme:743700G7A9J1PHM3X223", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00" } }, "ID_18": { "value": "
\u00a0
\n
\u00a0
\n
\u00a0
\n
2022
MEUR
Marine
Power
Marine
Systems
Energy
Portfolio
Business
Total
At
\u00a0
a
\u00a0
point
\u00a0
in
\u00a0
time
Products
725
162
409
57
1
\u00a0
353
Goods
\u00a0
and
\u00a0
services
364
60
107
69
599
Projects
692
123
344
76
1
\u00a0
235
Total
1
\u00a0
781
345
860
201
3
\u00a0
187
Over
\u00a0
time
Projects
73
330
1
\u00a0
493
157
2
\u00a0
054
Long-term
\u00a0
agreements
224
4
368
6
602
Total
297
335
1
\u00a0
860
163
2
\u00a0
655
Total
2
\u00a0
078
680
2
\u00a0
721
364
5
\u00a0
842
The
\u00a0
segment
\u00a0
related
\u00a0
comparison
\u00a0
figures
\u00a0
for
\u00a0
2022
\u00a0
have
\u00a0
been
\u00a0
restated
\u00a0
to
\u00a0
reflect
\u00a0
the
\u00a0
current
\u00a0
organisational
structure.
", "dimensions": { "concept": "ifrs-full:DisclosureOfRevenueExplanatory", "language": "en", "entity": "scheme:743700G7A9J1PHM3X223", "period": "2022-01-01T00:00:00/2023-01-01T00:00:00" } }, "ID_21": { "value": "
2.3.
\u00a0
OTHER
\u00a0
OPERATING
\u00a0
INCOME
\u00a0
AND
\u00a0
EXPENSES
Accounting
\u00a0
principles
Other
\u00a0
operating
\u00a0
income
\u00a0
and
\u00a0
expenses
\u00a0
do
\u00a0
not
\u00a0
directly
\u00a0
relate
\u00a0
to
\u00a0
the
\u00a0
operating
\u00a0
activities.
Other
\u00a0
operating
\u00a0
income
\u00a0
includes,
\u00a0
for
\u00a0
example,
\u00a0
gains
\u00a0
from
\u00a0
the
\u00a0
sale
\u00a0
of
\u00a0
assets
\u00a0
and
\u00a0
regular
\u00a0
incomes,
\u00a0
such
\u00a0
as
rental
\u00a0
income,
\u00a0
and
\u00a0
gains
\u00a0
relating
\u00a0
to
\u00a0
business
\u00a0
combinations,
\u00a0
which
\u00a0
have
\u00a0
not
\u00a0
been
\u00a0
derived
\u00a0
from
\u00a0
primary
activities.
\u00a0
Other
\u00a0
operating
\u00a0
income
\u00a0
includes
\u00a0
also
\u00a0
grants.
\u00a0
Governmental
\u00a0
and
\u00a0
other
\u00a0
grants
\u00a0
are
\u00a0
recognised
\u00a0
in
the
\u00a0
statement
\u00a0
of
\u00a0
income
\u00a0
on
\u00a0
a
\u00a0
systematic
\u00a0
basis
\u00a0
in
\u00a0
the
\u00a0
same
\u00a0
periods
\u00a0
in
\u00a0
which
\u00a0
the
\u00a0
expenses
\u00a0
are
\u00a0
incurred.
Other
\u00a0
operating
\u00a0
expenses
\u00a0
include,
\u00a0
for
\u00a0
example,
\u00a0
travel
\u00a0
costs,
\u00a0
legal
\u00a0
and
\u00a0
consultancy
\u00a0
costs,
\u00a0
rental
\u00a0
costs,
voluntary
\u00a0
personnel
\u00a0
related
\u00a0
costs,
\u00a0
and
\u00a0
administrative
\u00a0
costs.
\u00a0
Also,
\u00a0
expenses
\u00a0
related
\u00a0
to
\u00a0
short-term
\u00a0
lease
contracts
\u00a0
and
\u00a0
lease
\u00a0
contracts
\u00a0
of
\u00a0
low-value
\u00a0
assets
\u00a0
are
\u00a0
recognised
\u00a0
in
\u00a0
other
\u00a0
operating
\u00a0
expenses.
\u00a0
In
\u00a0
addition,
losses
\u00a0
related
\u00a0
to
\u00a0
the
\u00a0
sale
\u00a0
of
\u00a0
assets,
\u00a0
as
\u00a0
well
\u00a0
as
\u00a0
losses
\u00a0
arising
\u00a0
from
\u00a0
modifications
\u00a0
and
\u00a0
terminations
\u00a0
of
\u00a0
lease
agreements,
\u00a0
are
\u00a0
recognised
\u00a0
in
\u00a0
other
\u00a0
operating
\u00a0
expenses.
Other
\u00a0
operating
\u00a0
income
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
MEUR
2023
2022
Capital
\u00a0
gains
1
8
Government
\u00a0
grants
15
16
Sale
\u00a0
of
\u00a0
scrapped
\u00a0
material
2
3
Sale
\u00a0
of
\u00a0
by-products
3
6
Rental
\u00a0
income
2
1
Income
\u00a0
related
\u00a0
to
\u00a0
cancelled
\u00a0
orders*
19
Insurance
\u00a0
indemnities
5
5
Gains
\u00a0
on
\u00a0
derivatives
\u00a0
not
\u00a0
included
\u00a0
in
\u00a0
hedge
\u00a0
accounting
\u00a0
and
\u00a0
ineffective
\u00a0
hedging**
24
13
Other***
25
19
Total
96
70
*
\u00a0
Expenses
\u00a0
related
\u00a0
to
\u00a0
cancelled
\u00a0
orders
\u00a0
are
\u00a0
recognised
\u00a0
on
\u00a0
respective
\u00a0
expense
\u00a0
accounts.
**
\u00a0
The
\u00a0
portion
\u00a0
of
\u00a0
ineffective
\u00a0
hedging
\u00a0
is
\u00a0
EUR
\u00a0
3
\u00a0
million
\u00a0
(2).
***
\u00a0
Other
\u00a0
includes
\u00a0
EUR
\u00a0
11
\u00a0
million
\u00a0
of
\u00a0
income
\u00a0
related
\u00a0
to
\u00a0
the
\u00a0
liquidation
\u00a0
of
\u00a0
W\u00e4rtsil\u00e4-CME
\u00a0
Zhenjiang
\u00a0
Propeller
\u00a0
Co.
Ltd.,
\u00a0
a
\u00a0
subsidiary
\u00a0
of
\u00a0
the
\u00a0
Group.
Other
\u00a0
operating
\u00a0
expenses
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
MEUR
2023
2022
Travel
\u00a0
costs
159
129
Rental
\u00a0
costs
49
44
Legal
\u00a0
and
\u00a0
consultancy
\u00a0
costs
99
117
Information
\u00a0
technology
\u00a0
costs
79
81
Other
\u00a0
personnel
\u00a0
related
\u00a0
costs
68
60
Administrative
\u00a0
costs
44
41
Losses
\u00a0
on
\u00a0
derivatives
\u00a0
not
\u00a0
included
\u00a0
in
\u00a0
hedge
\u00a0
accounting
\u00a0
and
\u00a0
ineffective
\u00a0
hedging*
23
21
Other**
120
146
Total
641
638
*
\u00a0
The
\u00a0
portion
\u00a0
of
\u00a0
ineffective
\u00a0
hedging
\u00a0
is
\u00a0
EUR
\u00a0
8
\u00a0
million
\u00a0
(2).
**
\u00a0
Comparison
\u00a0
figure
\u00a0
for
\u00a0
Other
\u00a0
includes
\u00a0
loss
\u00a0
on
\u00a0
sales
\u00a0
of
\u00a0
fixed
\u00a0
assets
\u00a0
of
\u00a0
EUR
\u00a0
31
\u00a0
million.
", "dimensions": { "concept": "ifrs-full:DisclosureOfOtherOperatingIncomeExpenseExplanatory", "language": "en", "entity": "scheme:743700G7A9J1PHM3X223", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00" } }, "ID_22": { "value": "
Other
\u00a0
operating
\u00a0
income
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
MEUR
2023
2022
Capital
\u00a0
gains
1
8
Government
\u00a0
grants
15
16
Sale
\u00a0
of
\u00a0
scrapped
\u00a0
material
2
3
Sale
\u00a0
of
\u00a0
by-products
3
6
Rental
\u00a0
income
2
1
Income
\u00a0
related
\u00a0
to
\u00a0
cancelled
\u00a0
orders*
19
Insurance
\u00a0
indemnities
5
5
Gains
\u00a0
on
\u00a0
derivatives
\u00a0
not
\u00a0
included
\u00a0
in
\u00a0
hedge
\u00a0
accounting
\u00a0
and
\u00a0
ineffective
\u00a0
hedging**
24
13
Other***
25
19
Total
96
70
*
\u00a0
Expenses
\u00a0
related
\u00a0
to
\u00a0
cancelled
\u00a0
orders
\u00a0
are
\u00a0
recognised
\u00a0
on
\u00a0
respective
\u00a0
expense
\u00a0
accounts.
**
\u00a0
The
\u00a0
portion
\u00a0
of
\u00a0
ineffective
\u00a0
hedging
\u00a0
is
\u00a0
EUR
\u00a0
3
\u00a0
million
\u00a0
(2).
***
\u00a0
Other
\u00a0
includes
\u00a0
EUR
\u00a0
11
\u00a0
million
\u00a0
of
\u00a0
income
\u00a0
related
\u00a0
to
\u00a0
the
\u00a0
liquidation
\u00a0
of
\u00a0
W\u00e4rtsil\u00e4-CME
\u00a0
Zhenjiang
\u00a0
Propeller
\u00a0
Co.
Ltd.,
\u00a0
a
\u00a0
subsidiary
\u00a0
of
\u00a0
the
\u00a0
Group.
", "dimensions": { "concept": "ifrs-full:DisclosureOfOtherOperatingIncomeExplanatory", "language": "en", "entity": "scheme:743700G7A9J1PHM3X223", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00" } }, "ID_23": { "value": "
Other
\u00a0
operating
\u00a0
expenses
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
MEUR
2023
2022
Travel
\u00a0
costs
159
129
Rental
\u00a0
costs
49
44
Legal
\u00a0
and
\u00a0
consultancy
\u00a0
costs
99
117
Information
\u00a0
technology
\u00a0
costs
79
81
Other
\u00a0
personnel
\u00a0
related
\u00a0
costs
68
60
Administrative
\u00a0
costs
44
41
Losses
\u00a0
on
\u00a0
derivatives
\u00a0
not
\u00a0
included
\u00a0
in
\u00a0
hedge
\u00a0
accounting
\u00a0
and
\u00a0
ineffective
\u00a0
hedging*
23
21
Other**
120
146
Total
641
638
*
\u00a0
The
\u00a0
portion
\u00a0
of
\u00a0
ineffective
\u00a0
hedging
\u00a0
is
\u00a0
EUR
\u00a0
8
\u00a0
million
\u00a0
(2).
**
\u00a0
Comparison
\u00a0
figure
\u00a0
for
\u00a0
Other
\u00a0
includes
\u00a0
loss
\u00a0
on
\u00a0
sales
\u00a0
of
\u00a0
fixed
\u00a0
assets
\u00a0
of
\u00a0
EUR
\u00a0
31
\u00a0
million.
", "dimensions": { "concept": "ifrs-full:DisclosureOfOtherOperatingExpenseExplanatory", "language": "en", "entity": "scheme:743700G7A9J1PHM3X223", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00" } }, "ID_24": { "value": "
2.4.
\u00a0
MATERIAL
\u00a0
AND
\u00a0
SERVICES
Accounting
\u00a0
principles
Material
\u00a0
and
\u00a0
services
\u00a0
expenses
\u00a0
relate
\u00a0
to
\u00a0
purchases
\u00a0
of
\u00a0
goods
\u00a0
and
\u00a0
consumables
\u00a0
from
\u00a0
suppliers
\u00a0
for
manufacturing
\u00a0
less
\u00a0
discounts
\u00a0
and
\u00a0
tax
\u00a0
refunds
\u00a0
related
\u00a0
to
\u00a0
purchases.
\u00a0
Exchange
\u00a0
gains
\u00a0
or
\u00a0
losses
\u00a0
on
\u00a0
accounts
payable
\u00a0
are
\u00a0
included.
MEUR
2023
2022
Purchases
\u00a0
during
\u00a0
the
\u00a0
financial
\u00a0
period
-2
\u00a0
194
-2
\u00a0
459
Change
\u00a0
in
\u00a0
inventories
3
198
Change
\u00a0
in
\u00a0
inventories
\u00a0
of
\u00a0
finished
\u00a0
goods
\u00a0
&
\u00a0
work
\u00a0
in
\u00a0
progress
98
-68
Work
\u00a0
performed
\u00a0
by
\u00a0
the
\u00a0
Group
\u00a0
and
\u00a0
capitalised
31
24
External
\u00a0
services
-1
\u00a0
356
-1
\u00a0
366
Total
-3
\u00a0
419
-3
\u00a0
671
", "dimensions": { "concept": "ifrs-full:DisclosureOfCostOfSalesExplanatory", "language": "en", "entity": "scheme:743700G7A9J1PHM3X223", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00" } }, "ID_25": { "value": "
2.5.
\u00a0
EMPLOYEE
\u00a0
BENEFIT
\u00a0
EXPENSES
Accounting
\u00a0
principles
Employee
\u00a0
benefits
\u00a0
are
\u00a0
all
\u00a0
forms
\u00a0
of
\u00a0
consideration
\u00a0
given
\u00a0
in
\u00a0
exchange
\u00a0
for
\u00a0
services
\u00a0
rendered
\u00a0
by
\u00a0
employees
\u00a0
or
for
\u00a0
the
\u00a0
termination
\u00a0
of
\u00a0
employment.
\u00a0
In
\u00a0
addition,
\u00a0
the
\u00a0
Group
\u00a0
has
\u00a0
personnel
\u00a0
expenses
\u00a0
related
\u00a0
to
\u00a0
share-based
payments
\u00a0
and
\u00a0
other
\u00a0
personnel
\u00a0
expenses.
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
The
\u00a0
measurement
\u00a0
of
\u00a0
the
\u00a0
share-based
\u00a0
long-term
\u00a0
incentive
\u00a0
schemes
\u00a0
is
\u00a0
dependent
\u00a0
on
\u00a0
the
\u00a0
terms
\u00a0
of
\u00a0
the
respective
\u00a0
scheme.
\u00a0
Incentive
\u00a0
rights,
\u00a0
which
\u00a0
are
\u00a0
settled
\u00a0
in
\u00a0
company\u2019s
\u00a0
shares,
\u00a0
are
\u00a0
measured
\u00a0
at
\u00a0
fair
\u00a0
value
\u00a0
at
grant
\u00a0
date.
\u00a0
Incentive
\u00a0
rights,
\u00a0
which
\u00a0
are
\u00a0
settled
\u00a0
in
\u00a0
cash,
\u00a0
are
\u00a0
measured
\u00a0
at
\u00a0
fair
\u00a0
value
\u00a0
at
\u00a0
the
\u00a0
end
\u00a0
of
\u00a0
each
reporting
\u00a0
period,
\u00a0
and
\u00a0
the
\u00a0
change
\u00a0
is
\u00a0
recognised
\u00a0
in
\u00a0
the
\u00a0
statement
\u00a0
of
\u00a0
income.
Market
\u00a0
based
\u00a0
vesting
\u00a0
conditions,
\u00a0
such
\u00a0
as
\u00a0
share
\u00a0
price
\u00a0
development,
\u00a0
are
\u00a0
considered
\u00a0
when
\u00a0
determining
\u00a0
the
fair
\u00a0
value
\u00a0
of
\u00a0
the
\u00a0
incentive
\u00a0
right.
\u00a0
Non-market
\u00a0
vesting
\u00a0
conditions,
\u00a0
such
\u00a0
as
\u00a0
Economic
\u00a0
Value
\u00a0
Added,
\u00a0
or
\u00a0
service
time
\u00a0
required
\u00a0
are
\u00a0
considered
\u00a0
when
\u00a0
estimating
\u00a0
the
\u00a0
number
\u00a0
of
\u00a0
shares
\u00a0
to
\u00a0
vest.
\u00a0
Estimates
\u00a0
of
\u00a0
the
\u00a0
number
\u00a0
of
shares
\u00a0
to
\u00a0
vest
\u00a0
are
\u00a0
revised
\u00a0
at
\u00a0
the
\u00a0
end
\u00a0
of
\u00a0
each
\u00a0
reporting
\u00a0
period
\u00a0
and
\u00a0
the
\u00a0
change
\u00a0
is
\u00a0
recognised
\u00a0
through
\u00a0
the
statement
\u00a0
of
\u00a0
income.
Cost
\u00a0
of
\u00a0
the
\u00a0
share-based
\u00a0
long-term
\u00a0
incentive
\u00a0
schemes
\u00a0
is
\u00a0
recognised
\u00a0
in
\u00a0
the
\u00a0
statement
\u00a0
of
\u00a0
income
\u00a0
as
employee
\u00a0
benefit
\u00a0
expenses
\u00a0
over
\u00a0
the
\u00a0
service
\u00a0
period
\u00a0
required
\u00a0
in
\u00a0
the
\u00a0
scheme.
\u00a0
For
\u00a0
incentive
\u00a0
rights
\u00a0
settled
\u00a0
in
company\u2019s
\u00a0
shares,
\u00a0
the
\u00a0
expense
\u00a0
is
\u00a0
recognised
\u00a0
against
\u00a0
equity,
\u00a0
and
\u00a0
for
\u00a0
incentive
\u00a0
rights
\u00a0
settled
\u00a0
in
\u00a0
cash,
\u00a0
the
expense
\u00a0
is
\u00a0
recognised
\u00a0
against
\u00a0
liabilities.
When
\u00a0
company
\u00a0
is
\u00a0
obliged
\u00a0
to
\u00a0
withhold
\u00a0
and
\u00a0
settle
\u00a0
in
\u00a0
cash
\u00a0
employee\u2019s
\u00a0
tax
\u00a0
obligation
\u00a0
associated
\u00a0
with
\u00a0
the
shares
\u00a0
vested
\u00a0
to
\u00a0
tax
\u00a0
authority,
\u00a0
the
\u00a0
portion
\u00a0
is
\u00a0
accounted
\u00a0
in
\u00a0
the
\u00a0
same
\u00a0
manner
\u00a0
as
\u00a0
the
\u00a0
portion
\u00a0
which
\u00a0
is
\u00a0
settled
in
\u00a0
shares.
The
\u00a0
Group
\u00a0
companies
\u00a0
have
\u00a0
various
\u00a0
pension
\u00a0
and
\u00a0
other
\u00a0
post-employment
\u00a0
benefit
\u00a0
plans
\u00a0
in
\u00a0
accordance
\u00a0
with
local
\u00a0
conditions
\u00a0
and
\u00a0
practices
\u00a0
worldwide.
\u00a0
These
\u00a0
plans
\u00a0
are
\u00a0
classified
\u00a0
either
\u00a0
as
\u00a0
defined
\u00a0
contribution
\u00a0
plans
\u00a0
or
defined
\u00a0
benefit
\u00a0
plans.
In
\u00a0
defined
\u00a0
contribution
\u00a0
plans,
\u00a0
the
\u00a0
Group
\u00a0
pays
\u00a0
fixed
\u00a0
contributions
\u00a0
into
\u00a0
a
\u00a0
separate
\u00a0
entity,
\u00a0
such
\u00a0
as
\u00a0
an
insurance
\u00a0
company.
\u00a0
The
\u00a0
Group
\u00a0
has
\u00a0
no
\u00a0
legal
\u00a0
or
\u00a0
constructive
\u00a0
obligation
\u00a0
to
\u00a0
pay
\u00a0
further
\u00a0
contributions
\u00a0
if
\u00a0
the
fund
\u00a0
does
\u00a0
not
\u00a0
hold
\u00a0
sufficient
\u00a0
assets
\u00a0
to
\u00a0
pay
\u00a0
employee
\u00a0
benefits.
\u00a0
The
\u00a0
contributions
\u00a0
are
\u00a0
recognised
\u00a0
in
\u00a0
the
statement
\u00a0
of
\u00a0
income
\u00a0
as
\u00a0
employee
\u00a0
benefit
\u00a0
expenses
\u00a0
in
\u00a0
the
\u00a0
period
\u00a0
to
\u00a0
which
\u00a0
they
\u00a0
relate.
Accounting
\u00a0
principles
\u00a0
for
\u00a0
defined
\u00a0
benefit
\u00a0
plans
\u00a0
are
\u00a0
presented
\u00a0
in
\u00a0
Note
\u00a0
4.7.
\u00a0
Pension
\u00a0
obligations.
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
MEUR
2023
2022
Wages
\u00a0
and
\u00a0
salaries
1
\u00a0
187
1
\u00a0
104
Pension
\u00a0
costs
Defined
\u00a0
benefit
\u00a0
plans
8
4
Defined
\u00a0
contribution
\u00a0
plans
93
78
Other
\u00a0
compulsory
\u00a0
personnel
\u00a0
costs
168
173
Total
1
\u00a0
456
1
\u00a0
359
Management
\u00a0
remuneration
\u00a0
is
\u00a0
specified
\u00a0
in
\u00a0
Note
\u00a0
7.2.
\u00a0
Related
\u00a0
party
\u00a0
disclosures.
Long-term
\u00a0
incentive
\u00a0
schemes
Wages
\u00a0
and
\u00a0
salaries
\u00a0
include
\u00a0
EUR
\u00a0
6
\u00a0
million
\u00a0
(1)
\u00a0
in
\u00a0
expenses
\u00a0
arising
\u00a0
from
\u00a0
share-based
\u00a0
long-term
\u00a0
incentive
schemes.
\u00a0
At
\u00a0
the
\u00a0
end
\u00a0
of
\u00a0
2023,
\u00a0
W\u00e4rtsil\u00e4
\u00a0
had
\u00a0
four
\u00a0
active
\u00a0
long-term
\u00a0
incentive
\u00a0
schemes.
The
\u00a0
long-term
\u00a0
incentive
\u00a0
scheme
\u00a0
for
\u00a0
period
\u00a0
2021-2023
\u00a0
is
\u00a0
a
\u00a0
performance
\u00a0
share
\u00a0
plan.
\u00a0
The
\u00a0
participants
\u00a0
are
granted
\u00a0
company
\u00a0
shares
\u00a0
if
\u00a0
the
\u00a0
pre-determined
\u00a0
minimum
\u00a0
level
\u00a0
in
\u00a0
company\u2019s
\u00a0
Economic
\u00a0
Value
\u00a0
Added
\u00a0
is
\u00a0
reached
and
\u00a0
employment
\u00a0
requirement
\u00a0
for
\u00a0
the
\u00a0
period
\u00a0
is
\u00a0
met.
\u00a0
The
\u00a0
number
\u00a0
of
\u00a0
shares
\u00a0
depends
\u00a0
on
\u00a0
the
\u00a0
level
\u00a0
of
\u00a0
achievement
and
\u00a0
is
\u00a0
capped
\u00a0
to
\u00a0
175%
\u00a0
of
\u00a0
the
\u00a0
target
\u00a0
level.
\u00a0
There
\u00a0
is
\u00a0
also
\u00a0
a
\u00a0
cap
\u00a0
set
\u00a0
to
\u00a0
the
\u00a0
pay-out
\u00a0
in
\u00a0
relation
\u00a0
to
\u00a0
individuals\u2019
\u00a0
base
pay
\u00a0
at
\u00a0
grant
\u00a0
date.
\u00a0
On
\u00a0
target
\u00a0
level,
\u00a0
the
\u00a0
scheme
\u00a0
would
\u00a0
entitle
\u00a0
the
\u00a0
participants
\u00a0
to
\u00a0
a
\u00a0
total
\u00a0
reward
\u00a0
of
\u00a0
1,178,303
shares.
\u00a0
In
\u00a0
certain
\u00a0
countries
\u00a0
the
\u00a0
equivalent
\u00a0
reward
\u00a0
would
\u00a0
be
\u00a0
settled
\u00a0
in
\u00a0
cash
\u00a0
due
\u00a0
to
\u00a0
local
\u00a0
legislation.
\u00a0
The
\u00a0
fair
value
\u00a0
of
\u00a0
the
\u00a0
share
\u00a0
determined
\u00a0
at
\u00a0
grant
\u00a0
date
\u00a0
for
\u00a0
accounting
\u00a0
of
\u00a0
2021-2023
\u00a0
scheme
\u00a0
is
\u00a0
EUR
\u00a0
8.42.
\u00a0
\n
\u00a0
\n
\u00a0
\n
The
\u00a0
long-term
\u00a0
incentive
\u00a0
scheme
\u00a0
for
\u00a0
period
\u00a0
2022-2024
\u00a0
is
\u00a0
a
\u00a0
performance
\u00a0
share
\u00a0
plan.
\u00a0
The
\u00a0
participants
\u00a0
are
granted
\u00a0
company
\u00a0
shares
\u00a0
if
\u00a0
the
\u00a0
pre-determined
\u00a0
minimum
\u00a0
level
\u00a0
in
\u00a0
company\u2019s
\u00a0
Economic
\u00a0
Value
\u00a0
Added
\u00a0
(85%
weight)
\u00a0
and
\u00a0
Sustainability
\u00a0
targets
\u00a0
(15%
\u00a0
weight)
\u00a0
are
\u00a0
reached,
\u00a0
as
\u00a0
well
\u00a0
as
\u00a0
employment
\u00a0
requirement
\u00a0
for
\u00a0
the
\u00a0
period
is
\u00a0
met.
\u00a0
The
\u00a0
number
\u00a0
of
\u00a0
shares
\u00a0
depends
\u00a0
on
\u00a0
the
\u00a0
level
\u00a0
of
\u00a0
achievement
\u00a0
and
\u00a0
is
\u00a0
capped
\u00a0
to
\u00a0
175%
\u00a0
of
\u00a0
the
\u00a0
target
\u00a0
level.
There
\u00a0
is
\u00a0
also
\u00a0
a
\u00a0
cap
\u00a0
set
\u00a0
to
\u00a0
the
\u00a0
pay-out
\u00a0
in
\u00a0
relation
\u00a0
to
\u00a0
individuals\u2019
\u00a0
base
\u00a0
pay
\u00a0
at
\u00a0
grant
\u00a0
date.
\u00a0
On
\u00a0
target
\u00a0
level,
\u00a0
the
scheme
\u00a0
would
\u00a0
entitle
\u00a0
the
\u00a0
participants
\u00a0
to
\u00a0
a
\u00a0
total
\u00a0
reward
\u00a0
of
\u00a0
1,125,787
\u00a0
shares.
\u00a0
In
\u00a0
certain
\u00a0
countries
\u00a0
the
\u00a0
equivalent
reward
\u00a0
would
\u00a0
be
\u00a0
settled
\u00a0
in
\u00a0
cash
\u00a0
due
\u00a0
to
\u00a0
local
\u00a0
legislation.
\u00a0
The
\u00a0
fair
\u00a0
value
\u00a0
of
\u00a0
the
\u00a0
share
\u00a0
determined
\u00a0
at
\u00a0
grant
\u00a0
date
\u00a0
for
accounting
\u00a0
of
\u00a0
2022-2024
\u00a0
scheme
\u00a0
is
\u00a0
EUR
\u00a0
9.53.
The
\u00a0
long-term
\u00a0
incentive
\u00a0
scheme
\u00a0
for
\u00a0
period
\u00a0
2023-2025
\u00a0
is
\u00a0
a
\u00a0
performance
\u00a0
share
\u00a0
plan.
\u00a0
The
\u00a0
participants
\u00a0
are
granted
\u00a0
company
\u00a0
shares
\u00a0
if
\u00a0
the
\u00a0
pre-determined
\u00a0
minimum
\u00a0
level
\u00a0
in
\u00a0
company\u2019s
\u00a0
Economic
\u00a0
Value
\u00a0
Added
\u00a0
(85%
weight)
\u00a0
and
\u00a0
Sustainability
\u00a0
targets
\u00a0
(15%
\u00a0
weight)
\u00a0
are
\u00a0
reached,
\u00a0
as
\u00a0
well
\u00a0
as
\u00a0
employment
\u00a0
requirement
\u00a0
for
\u00a0
the
\u00a0
period
is
\u00a0
met.
\u00a0
The
\u00a0
number
\u00a0
of
\u00a0
shares
\u00a0
depends
\u00a0
on
\u00a0
the
\u00a0
level
\u00a0
of
\u00a0
achievement
\u00a0
and
\u00a0
is
\u00a0
capped
\u00a0
to
\u00a0
175%
\u00a0
of
\u00a0
the
\u00a0
target
\u00a0
level.
There
\u00a0
is
\u00a0
also
\u00a0
a
\u00a0
cap
\u00a0
set
\u00a0
to
\u00a0
the
\u00a0
pay-out
\u00a0
in
\u00a0
relation
\u00a0
to
\u00a0
individuals\u2019
\u00a0
base
\u00a0
pay
\u00a0
at
\u00a0
grant
\u00a0
date.
\u00a0
On
\u00a0
target
\u00a0
level,
\u00a0
the
scheme
\u00a0
would
\u00a0
entitle
\u00a0
the
\u00a0
participants
\u00a0
to
\u00a0
a
\u00a0
total
\u00a0
reward
\u00a0
of
\u00a0
1,708,764
\u00a0
shares.
\u00a0
In
\u00a0
certain
\u00a0
countries
\u00a0
the
\u00a0
equivalent
reward
\u00a0
would
\u00a0
be
\u00a0
settled
\u00a0
in
\u00a0
cash
\u00a0
due
\u00a0
to
\u00a0
local
\u00a0
legislation.
\u00a0
The
\u00a0
fair
\u00a0
value
\u00a0
of
\u00a0
the
\u00a0
share
\u00a0
determined
\u00a0
at
\u00a0
grant
\u00a0
date
\u00a0
for
accounting
\u00a0
of
\u00a0
2023-2025
\u00a0
scheme
\u00a0
is
\u00a0
EUR
\u00a0
7.82.
W\u00e4rtsil\u00e4
\u00a0
has
\u00a0
a
\u00a0
restricted
\u00a0
share
\u00a0
plan
\u00a0
for
\u00a0
retention
\u00a0
of
\u00a0
individually
\u00a0
selected
\u00a0
key
\u00a0
employees
\u00a0
in
\u00a0
specific
\u00a0
situations.
The
\u00a0
restricted
\u00a0
share
\u00a0
plan
\u00a0
2023-2025
\u00a0
entitles
\u00a0
participants
\u00a0
to
\u00a0
a
\u00a0
total
\u00a0
reward
\u00a0
of
\u00a0
662,446
\u00a0
shares.
\u00a0
The
\u00a0
reward
\u00a0
will
be
\u00a0
payable
\u00a0
after
\u00a0
the
\u00a0
retention
\u00a0
period
\u00a0
of
\u00a0
three
\u00a0
years.
\u00a0
If
\u00a0
the
\u00a0
individual\u2019s
\u00a0
employment
\u00a0
with
\u00a0
W\u00e4rtsil\u00e4
\u00a0
terminates
before
\u00a0
the
\u00a0
payment
\u00a0
of
\u00a0
the
\u00a0
reward,
\u00a0
the
\u00a0
individual
\u00a0
is
\u00a0
not
\u00a0
entitled
\u00a0
to
\u00a0
any
\u00a0
reward
\u00a0
based
\u00a0
on
\u00a0
the
\u00a0
respective
\u00a0
plan.
\u00a0
In
certain
\u00a0
countries
\u00a0
the
\u00a0
equivalent
\u00a0
reward
\u00a0
would
\u00a0
be
\u00a0
settled
\u00a0
in
\u00a0
cash
\u00a0
due
\u00a0
to
\u00a0
local
\u00a0
legislation.
\u00a0
The
\u00a0
fair
\u00a0
value
\u00a0
of
\u00a0
the
share
\u00a0
determined
\u00a0
at
\u00a0
grant
\u00a0
date
\u00a0
for
\u00a0
accounting
\u00a0
of
\u00a0
2023-2025
\u00a0
retention
\u00a0
plan
\u00a0
is
\u00a0
EUR
\u00a0
9.32.
-
2023
2022
Personnel
\u00a0
on
\u00a0
average
17
\u00a0
666
17
\u00a0
482
Personnel
\u00a0
at
\u00a0
the
\u00a0
end
\u00a0
of
\u00a0
the
\u00a0
financial
\u00a0
period
17
\u00a0
807
17
\u00a0
581
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
4.7.
\u00a0
PENSION
\u00a0
OBLIGATIONS
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
Accounting
\u00a0
principles
Group
\u00a0
companies
\u00a0
in
\u00a0
different
\u00a0
countries
\u00a0
have
\u00a0
various
\u00a0
pension
\u00a0
plans
\u00a0
in
\u00a0
accordance
\u00a0
with
\u00a0
local
\u00a0
conditions
\u00a0
and
practices.
\u00a0
These
\u00a0
pension
\u00a0
plans
\u00a0
are
\u00a0
classified
\u00a0
either
\u00a0
as
\u00a0
defined
\u00a0
contribution
\u00a0
or
\u00a0
defined
\u00a0
benefit
\u00a0
plans.
Defined
\u00a0
benefit
\u00a0
plans
\u00a0
are
\u00a0
funded
\u00a0
through
\u00a0
contributions
\u00a0
to
\u00a0
pension
\u00a0
funds
\u00a0
or
\u00a0
pension
\u00a0
insurance
\u00a0
companies.
Defined
\u00a0
benefit
\u00a0
plans
\u00a0
may
\u00a0
be
\u00a0
unfunded
\u00a0
or
\u00a0
wholly
\u00a0
or
\u00a0
partly
\u00a0
funded.
\u00a0
The
\u00a0
present
\u00a0
value
\u00a0
of
\u00a0
the
\u00a0
obligation
arising
\u00a0
from
\u00a0
the
\u00a0
defined
\u00a0
benefit
\u00a0
plans
\u00a0
is
\u00a0
determined
\u00a0
per
\u00a0
each
\u00a0
plan
\u00a0
using
\u00a0
actuarial
\u00a0
techniques,
\u00a0
the
\u00a0
projected
unit
\u00a0
credit
\u00a0
method.
\u00a0
The
\u00a0
Group
\u00a0
recognises
\u00a0
the
\u00a0
defined
\u00a0
benefit
\u00a0
obligation,
\u00a0
net
\u00a0
of
\u00a0
fair
\u00a0
value
\u00a0
of
\u00a0
the
\u00a0
plan
\u00a0
assets,
at
\u00a0
the
\u00a0
end
\u00a0
of
\u00a0
the
\u00a0
financial
\u00a0
period.
Actuarial
\u00a0
gains
\u00a0
and
\u00a0
losses
\u00a0
and
\u00a0
other
\u00a0
re-measurements
\u00a0
of
\u00a0
the
\u00a0
net
\u00a0
defined
\u00a0
benefit
\u00a0
obligation
\u00a0
are
\u00a0
recognised
immediately
\u00a0
in
\u00a0
the
\u00a0
statement
\u00a0
of
\u00a0
other
\u00a0
comprehensive
\u00a0
income.
\u00a0
Current
\u00a0
service
\u00a0
cost
\u00a0
is
\u00a0
the
\u00a0
present
\u00a0
value
\u00a0
of
the
\u00a0
post-employment
\u00a0
benefit,
\u00a0
which
\u00a0
is
\u00a0
earned
\u00a0
by
\u00a0
the
\u00a0
employees
\u00a0
during
\u00a0
the
\u00a0
year.
\u00a0
The
\u00a0
Group
\u00a0
determines
\u00a0
the
net
\u00a0
interest
\u00a0
expense
\u00a0
on
\u00a0
the
\u00a0
net
\u00a0
defined
\u00a0
benefit
\u00a0
plan
\u00a0
by
\u00a0
applying
\u00a0
the
\u00a0
discount
\u00a0
rate
\u00a0
used
\u00a0
to
\u00a0
measure
\u00a0
the
defined
\u00a0
benefit
\u00a0
obligation.
\u00a0
Service
\u00a0
cost
\u00a0
is
\u00a0
recognised
\u00a0
in
\u00a0
employee
\u00a0
benefit
\u00a0
expenses
\u00a0
and
\u00a0
the
\u00a0
net
\u00a0
interest
\u00a0
in
financial
\u00a0
expenses.
\u00a0
The
\u00a0
defined
\u00a0
benefit
\u00a0
plans
\u00a0
are
\u00a0
calculated
\u00a0
by
\u00a0
qualified
\u00a0
actuaries.
In
\u00a0
addition
\u00a0
to
\u00a0
defined
\u00a0
benefit
\u00a0
plans,
\u00a0
W\u00e4rtsil\u00e4
\u00a0
has
\u00a0
other
\u00a0
long-term
\u00a0
employee
\u00a0
benefits,
\u00a0
which
\u00a0
are
\u00a0
presented
separately
\u00a0
from
\u00a0
the
\u00a0
defined
\u00a0
benefit
\u00a0
plans.
\u00a0
As
\u00a0
with
\u00a0
the
\u00a0
accounting
\u00a0
for
\u00a0
a
\u00a0
defined
\u00a0
benefit
\u00a0
plan,
\u00a0
for
\u00a0
any
\u00a0
other
long-term
\u00a0
benefit
\u00a0
the
\u00a0
Group
\u00a0
recognises
\u00a0
a
\u00a0
liability
\u00a0
for
\u00a0
the
\u00a0
obligation,
\u00a0
net
\u00a0
of
\u00a0
the
\u00a0
fair
\u00a0
value
\u00a0
of
\u00a0
the
\u00a0
plan
\u00a0
assets,
\u00a0
if
any.
\u00a0
Changes
\u00a0
in
\u00a0
other
\u00a0
long-term
\u00a0
employee
\u00a0
benefits
\u00a0
are
\u00a0
recognised
\u00a0
in
\u00a0
the
\u00a0
statement
\u00a0
of
\u00a0
income.
Accounting
\u00a0
principles
\u00a0
for
\u00a0
defined
\u00a0
contribution
\u00a0
plans
\u00a0
are
\u00a0
presented
\u00a0
in
\u00a0
Note
\u00a0
2.5.
\u00a0
Employee
\u00a0
benefit
\u00a0
expenses.
\u00a0
\n
\u00a0
\n
\u00a0
\n
Accounting
\u00a0
estimates
\u00a0
and
\u00a0
judgements
Estimates
\u00a0
of
\u00a0
pension
\u00a0
obligations
\u00a0
regarding
\u00a0
each
\u00a0
defined
\u00a0
benefit
\u00a0
plan
\u00a0
are
\u00a0
based
\u00a0
on
\u00a0
actuarial
\u00a0
estimates
\u00a0
of
factors,
\u00a0
including
\u00a0
future
\u00a0
salary
\u00a0
increases,
\u00a0
discount
\u00a0
rates,
\u00a0
and
\u00a0
return
\u00a0
on
\u00a0
plan
\u00a0
assets.
\u00a0
Changes
\u00a0
in
\u00a0
these
assumptions
\u00a0
can
\u00a0
significantly
\u00a0
affect
\u00a0
the
\u00a0
Group\u2019s
\u00a0
pension
\u00a0
obligations
\u00a0
and
\u00a0
pension
\u00a0
costs.
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
MEUR
2023
2022
Net
\u00a0
defined
\u00a0
benefit
\u00a0
assets
\u00a0
on
\u00a0
31
\u00a0
December
16
17
Net
\u00a0
defined
\u00a0
benefit
\u00a0
liabilities
\u00a0
on
\u00a0
31
\u00a0
December
83
89
Liability
\u00a0
for
\u00a0
other
\u00a0
long-term
\u00a0
employee
\u00a0
benefits
\u00a0
on
\u00a0
31
\u00a0
December
43
22
W\u00e4rtsil\u00e4
\u00a0
has
\u00a0
defined
\u00a0
benefit
\u00a0
plans
\u00a0
for
\u00a0
its
\u00a0
employees
\u00a0
mainly
\u00a0
in
\u00a0
Europe
\u00a0
and
\u00a0
Asia.
\u00a0
The
\u00a0
major
\u00a0
plans
\u00a0
are
\u00a0
located
\u00a0
in
Switzerland,
\u00a0
Germany,
\u00a0
United
\u00a0
Kingdom
\u00a0
and
\u00a0
Sweden.
\u00a0
The
\u00a0
Swiss
\u00a0
defined
\u00a0
benefit
\u00a0
plan
\u00a0
accounts
\u00a0
for
\u00a0
40%
\u00a0
of
\u00a0
the
Group's
\u00a0
total
\u00a0
defined
\u00a0
benefit
\u00a0
obligations
\u00a0
and
\u00a0
63%
\u00a0
of
\u00a0
the
\u00a0
plans'
\u00a0
assets.
\u00a0
Most
\u00a0
of
\u00a0
the
\u00a0
plans
\u00a0
provide
\u00a0
a
\u00a0
lifetime
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
pension
\u00a0
to
\u00a0
the
\u00a0
members
\u00a0
at
\u00a0
the
\u00a0
normal
\u00a0
retirement
\u00a0
age,
\u00a0
but
\u00a0
there
\u00a0
are
\u00a0
also
\u00a0
plans
\u00a0
that
\u00a0
provide
\u00a0
a
\u00a0
lump
\u00a0
sum
payment
\u00a0
at
\u00a0
the
\u00a0
retirement
\u00a0
date.
\u00a0
Most
\u00a0
of
\u00a0
these
\u00a0
defined
\u00a0
benefit
\u00a0
pension
\u00a0
plans
\u00a0
are
\u00a0
managed
\u00a0
by
\u00a0
pension
\u00a0
funds.
Their
\u00a0
assets
\u00a0
are
\u00a0
not
\u00a0
included
\u00a0
in
\u00a0
the
\u00a0
Group's
\u00a0
assets.
\u00a0
The
\u00a0
plans'
\u00a0
assets
\u00a0
are
\u00a0
typically
\u00a0
invested
\u00a0
according
\u00a0
to
\u00a0
the
investment
\u00a0
strategies
\u00a0
approved
\u00a0
by
\u00a0
the
\u00a0
funds'
\u00a0
Board
\u00a0
of
\u00a0
Trustees,
\u00a0
or
\u00a0
in
\u00a0
some
\u00a0
cases
\u00a0
are
\u00a0
completely
\u00a0
administered
by
\u00a0
insurance
\u00a0
companies.
\u00a0
W\u00e4rtsil\u00e4
\u00a0
Group
\u00a0
companies
\u00a0
make
\u00a0
their
\u00a0
payments
\u00a0
to
\u00a0
pension
\u00a0
funds
\u00a0
in
\u00a0
accordance
\u00a0
with
local
\u00a0
legislation
\u00a0
and
\u00a0
practice.
\u00a0
Authorised
\u00a0
actuaries
\u00a0
in
\u00a0
each
\u00a0
country
\u00a0
have
\u00a0
performed
\u00a0
the
\u00a0
actuarial
\u00a0
calculations
required
\u00a0
for
\u00a0
the
\u00a0
defined
\u00a0
benefit
\u00a0
plans.
The
\u00a0
Swiss
\u00a0
plan
W\u00e4rtsil\u00e4
\u00a0
operates
\u00a0
a
\u00a0
defined
\u00a0
benefit
\u00a0
plan
\u00a0
in
\u00a0
Switzerland
\u00a0
in
\u00a0
accordance
\u00a0
with
\u00a0
the
\u00a0
local
\u00a0
pension
\u00a0
laws
\u00a0
and
regulations.
\u00a0
The
\u00a0
plan
\u00a0
provides
\u00a0
benefits
\u00a0
to
\u00a0
the
\u00a0
members
\u00a0
in
\u00a0
the
\u00a0
form
\u00a0
of
\u00a0
a
\u00a0
pension
\u00a0
payable
\u00a0
after
\u00a0
retirement.
\u00a0
The
level
\u00a0
of
\u00a0
benefits
\u00a0
provided
\u00a0
depends
\u00a0
on
\u00a0
the
\u00a0
accrued
\u00a0
retirement
\u00a0
savings
\u00a0
capital,
\u00a0
which
\u00a0
is
\u00a0
a
\u00a0
result
\u00a0
of
\u00a0
contributions
paid
\u00a0
up
\u00a0
to
\u00a0
retirement
\u00a0
plus
\u00a0
respective
\u00a0
interest.
\u00a0
The
\u00a0
plan
\u00a0
is
\u00a0
run
\u00a0
as
\u00a0
a
\u00a0
pension
\u00a0
fund
\u00a0
by
\u00a0
the
\u00a0
Board
\u00a0
of
\u00a0
Trustees
separately
\u00a0
from
\u00a0
the
\u00a0
company.
Contributions
\u00a0
to
\u00a0
the
\u00a0
plan
\u00a0
are
\u00a0
paid
\u00a0
both
\u00a0
by
\u00a0
the
\u00a0
employees,
\u00a0
as
\u00a0
well
\u00a0
as
\u00a0
by
\u00a0
the
\u00a0
employers
\u00a0
based
\u00a0
on
\u00a0
a
\u00a0
percentage
of
\u00a0
the
\u00a0
insured
\u00a0
salary
\u00a0
as
\u00a0
defined
\u00a0
in
\u00a0
the
\u00a0
pension
\u00a0
fund
\u00a0
regulations.
\u00a0
Contributions
\u00a0
by
\u00a0
the
\u00a0
employers
\u00a0
vary
depending
\u00a0
on
\u00a0
the
\u00a0
age
\u00a0
of
\u00a0
the
\u00a0
employee,
\u00a0
and
\u00a0
cover
\u00a0
on
\u00a0
average
\u00a0
two
\u00a0
thirds
\u00a0
of
\u00a0
the
\u00a0
total
\u00a0
contributions.
The
\u00a0
investment
\u00a0
strategy
\u00a0
for
\u00a0
a
\u00a0
pension
\u00a0
fund's
\u00a0
asset
\u00a0
is
\u00a0
the
\u00a0
responsibility
\u00a0
of
\u00a0
the
\u00a0
Board
\u00a0
of
\u00a0
Trustees.
\u00a0
Assets
\u00a0
are
invested
\u00a0
in
\u00a0
accordance
\u00a0
with
\u00a0
the
\u00a0
strategy
\u00a0
and
\u00a0
the
\u00a0
corridors
\u00a0
for
\u00a0
different
\u00a0
investment
\u00a0
categories
\u00a0
as
\u00a0
defined
\u00a0
by
local
\u00a0
laws.
\u00a0
Other
\u00a0
risks
\u00a0
of
\u00a0
the
\u00a0
plan
\u00a0
are
\u00a0
the
\u00a0
longevity
\u00a0
of
\u00a0
plan
\u00a0
members,
\u00a0
as
\u00a0
well
\u00a0
as
\u00a0
the
\u00a0
death
\u00a0
or
\u00a0
disability
\u00a0
of
employees
\u00a0
before
\u00a0
their
\u00a0
retirement.
\u00a0
The
\u00a0
pension
\u00a0
plan
\u00a0
is
\u00a0
reinsured
\u00a0
for
\u00a0
the
\u00a0
risk
\u00a0
of
\u00a0
death
\u00a0
and
\u00a0
disability
\u00a0
until
\u00a0
31
December
\u00a0
2023.
\u00a0
Inflationary
\u00a0
increases
\u00a0
for
\u00a0
pensions
\u00a0
in
\u00a0
payment
\u00a0
are
\u00a0
at
\u00a0
the
\u00a0
discretion
\u00a0
of
\u00a0
the
\u00a0
Board
\u00a0
of
\u00a0
Trustees
when
\u00a0
benefits
\u00a0
paid
\u00a0
by
\u00a0
the
\u00a0
plan
\u00a0
are
\u00a0
exceeding
\u00a0
the
\u00a0
minimum
\u00a0
level
\u00a0
required
\u00a0
by
\u00a0
law.
The
\u00a0
German
\u00a0
plans
W\u00e4rtsil\u00e4
\u00a0
operates
\u00a0
defined
\u00a0
benefit
\u00a0
plans
\u00a0
in
\u00a0
Germany
\u00a0
in
\u00a0
accordance
\u00a0
with
\u00a0
local
\u00a0
pension
\u00a0
laws
\u00a0
and
\u00a0
regulations.
\u00a0
The
plans
\u00a0
provide
\u00a0
benefits
\u00a0
to
\u00a0
the
\u00a0
members
\u00a0
in
\u00a0
the
\u00a0
form
\u00a0
of
\u00a0
a
\u00a0
pension
\u00a0
payable
\u00a0
after
\u00a0
retirement.
\u00a0
The
\u00a0
level
\u00a0
of
\u00a0
benefits
provided
\u00a0
depends
\u00a0
on
\u00a0
the
\u00a0
accrued
\u00a0
retirement
\u00a0
savings
\u00a0
capital,
\u00a0
which
\u00a0
is
\u00a0
a
\u00a0
result
\u00a0
of
\u00a0
contributions
\u00a0
paid
\u00a0
up
\u00a0
to
retirement
\u00a0
plus
\u00a0
respective
\u00a0
interest.
\u00a0
The
\u00a0
plans
\u00a0
vary
\u00a0
from
\u00a0
unfunded
\u00a0
plans
\u00a0
to
\u00a0
a
\u00a0
plan
\u00a0
run
\u00a0
as
\u00a0
a
\u00a0
pension
\u00a0
fund.
In
\u00a0
some
\u00a0
of
\u00a0
the
\u00a0
plans,
\u00a0
contributions
\u00a0
are
\u00a0
paid
\u00a0
to
\u00a0
the
\u00a0
plan,
\u00a0
both
\u00a0
by
\u00a0
the
\u00a0
employees
\u00a0
and
\u00a0
the
\u00a0
employers
\u00a0
based
\u00a0
on
\u00a0
a
percentage
\u00a0
of
\u00a0
the
\u00a0
insured
\u00a0
salary
\u00a0
as
\u00a0
defined
\u00a0
in
\u00a0
the
\u00a0
pension
\u00a0
fund
\u00a0
regulations.
\u00a0
However,
\u00a0
in
\u00a0
some
\u00a0
plans
\u00a0
only
\u00a0
the
employer
\u00a0
is
\u00a0
obliged
\u00a0
to
\u00a0
make
\u00a0
the
\u00a0
payments.
\u00a0
Contributions
\u00a0
by
\u00a0
the
\u00a0
employers
\u00a0
vary
\u00a0
depending
\u00a0
on
\u00a0
the
\u00a0
age
\u00a0
of
\u00a0
the
employee,
\u00a0
the
\u00a0
duration
\u00a0
of
\u00a0
the
\u00a0
employment,
\u00a0
and
\u00a0
also
\u00a0
on
\u00a0
the
\u00a0
position
\u00a0
of
\u00a0
the
\u00a0
employee.
The
\u00a0
main
\u00a0
risks
\u00a0
of
\u00a0
the
\u00a0
plans
\u00a0
are
\u00a0
the
\u00a0
longevity
\u00a0
of
\u00a0
plan
\u00a0
members,
\u00a0
and
\u00a0
the
\u00a0
death
\u00a0
or
\u00a0
disability
\u00a0
of
\u00a0
employees
\u00a0
before
their
\u00a0
retirement.
\u00a0
In
\u00a0
a
\u00a0
funded
\u00a0
plan,
\u00a0
the
\u00a0
investment
\u00a0
strategy
\u00a0
chosen
\u00a0
also
\u00a0
includes
\u00a0
certain
\u00a0
risk.
\u00a0
Inflationary
increases
\u00a0
for
\u00a0
pensions
\u00a0
in
\u00a0
payment
\u00a0
are
\u00a0
valuated
\u00a0
on
\u00a0
a
\u00a0
yearly
\u00a0
basis.
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
MEUR
2023
2022
Present
\u00a0
value
\u00a0
of
\u00a0
unfunded
\u00a0
defined
\u00a0
benefit
\u00a0
obligations
71
74
Present
\u00a0
value
\u00a0
of
\u00a0
funded
\u00a0
defined
\u00a0
benefit
\u00a0
obligations
146
138
Fair
\u00a0
value
\u00a0
of
\u00a0
plan
\u00a0
assets
-151
-142
Net
\u00a0
liability
\u00a0
in
\u00a0
the
\u00a0
statement
\u00a0
of
\u00a0
financial
\u00a0
position
66
71
%
Present
value
\u00a0
of
defined
benefit
obligations
Fair
value
of
\u00a0
plan
assets
Switzerland
40
63
Germany
17
Other
\u00a0
Europe
31
22
Asia
12
14
Total
100
100
MEUR
Present
value
\u00a0
of
defined
benefit
obligation
Fair
value
of
\u00a0
plan
assets
Net
defined
benefit
liability
Balance
\u00a0
on
\u00a0
1
\u00a0
January
\u00a0
2022
282
-164
120
Changes
\u00a0
in
\u00a0
exchange
\u00a0
rates
-1
-1
-2
Recognised
\u00a0
in
\u00a0
the
\u00a0
statement
\u00a0
of
\u00a0
income:
Current
\u00a0
service
\u00a0
cost
7
7
Past
\u00a0
service
\u00a0
cost
\u00a0
(-
\u00a0
credit)
-1
-1
Gains
\u00a0
(-)
\u00a0
/
\u00a0
losses
\u00a0
(+)
\u00a0
on
\u00a0
curtailments
\u00a0
and
\u00a0
settlements
-2
-2
Interest
\u00a0
cost
\u00a0
(+)
\u00a0
/
\u00a0
interest
\u00a0
income
\u00a0
(-)
5
-4
1
Remeasurements
\u00a0
recognised
\u00a0
in
\u00a0
other
\u00a0
comprehensive
\u00a0
income:
Return
\u00a0
on
\u00a0
plan
\u00a0
assets,
\u00a0
excluding
\u00a0
interest
\u00a0
income
31
31
Experience
\u00a0
adjustments
4
4
Changes
\u00a0
in
\u00a0
financial
\u00a0
assumptions
-71
-71
Contribution
\u00a0
paid
\u00a0
by
\u00a0
the
\u00a0
plan
\u00a0
members
1
-1
Contribution
\u00a0
paid
\u00a0
by
\u00a0
the
\u00a0
employer
-9
-9
Benefits
\u00a0
paid
-15
7
-8
Balance
\u00a0
on
\u00a0
31
\u00a0
December
\u00a0
2022
210
-142
71
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
Balance
\u00a0
on
\u00a0
1
\u00a0
January
\u00a0
2023
210
-142
71
Changes
\u00a0
in
\u00a0
exchange
\u00a0
rates
4
-5
-1
Recognised
\u00a0
in
\u00a0
the
\u00a0
statement
\u00a0
of
\u00a0
income:
Current
\u00a0
service
\u00a0
cost
7
7
Past
\u00a0
service
\u00a0
cost
\u00a0
(-
\u00a0
credit)
1
1
Gains
\u00a0
(-)
\u00a0
/
\u00a0
losses
\u00a0
(+)
\u00a0
on
\u00a0
curtailments
\u00a0
and
\u00a0
settlements
-1
-2
-2
Interest
\u00a0
cost
\u00a0
(+)
\u00a0
/
\u00a0
interest
\u00a0
income
\u00a0
(-)
7
-4
2
Remeasurements
\u00a0
recognised
\u00a0
in
\u00a0
other
\u00a0
comprehensive
\u00a0
income:
Return
\u00a0
on
\u00a0
plan
\u00a0
assets,
\u00a0
excluding
\u00a0
interest
\u00a0
income
-3
-3
Experience
\u00a0
adjustments
1
1
Changes
\u00a0
in
\u00a0
financial
\u00a0
assumptions
3
3
Contribution
\u00a0
paid
\u00a0
by
\u00a0
the
\u00a0
plan
\u00a0
members
2
-2
Contribution
\u00a0
paid
\u00a0
by
\u00a0
the
\u00a0
employer
-4
-4
Benefits
\u00a0
paid
-13
8
-5
Balance
\u00a0
on
\u00a0
31
\u00a0
December
\u00a0
2023
220
-151
66
Plan
\u00a0
assets
\u00a0
invested
\u00a0
in:
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
%
2023
2022
Shares
\u00a0
and
\u00a0
other
\u00a0
equity
\u00a0
instruments
16
14
Bonds
\u00a0
and
\u00a0
other
\u00a0
debt
\u00a0
instruments
44
39
Property
19
19
Other
\u00a0
assets
21
28
The
\u00a0
main
\u00a0
actuarial
\u00a0
assumptions
\u00a0
at
\u00a0
the
\u00a0
end
\u00a0
of
\u00a0
the
\u00a0
financial
\u00a0
period
\u00a0
are
\u00a0
(expressed
\u00a0
as
\u00a0
weighted
averages):
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
%
2023
2022
Discount
\u00a0
rate
3,45
3,60
Future
\u00a0
salary
\u00a0
growth
2,18
2,24
Future
\u00a0
pension
\u00a0
growth
0,92
0,96
On
\u00a0
31
\u00a0
December
\u00a0
2023,
\u00a0
the
\u00a0
weighted
\u00a0
average
\u00a0
duration
\u00a0
of
\u00a0
the
\u00a0
defined
\u00a0
benefit
\u00a0
obligation
\u00a0
was
\u00a0
8
\u00a0
years
\u00a0
(9).
\u00a0
The
Group
\u00a0
expects
\u00a0
to
\u00a0
contribute
\u00a0
EUR
\u00a0
3
\u00a0
million
\u00a0
(3)
\u00a0
to
\u00a0
the
\u00a0
plans
\u00a0
during
\u00a0
the
\u00a0
next
\u00a0
financial
\u00a0
period.
Assumptions
\u00a0
regarding
\u00a0
future
\u00a0
mortality
\u00a0
are
\u00a0
set
\u00a0
based
\u00a0
on
\u00a0
actuarial
\u00a0
advice
\u00a0
in
\u00a0
accordance
\u00a0
with
\u00a0
the
\u00a0
published
statistics
\u00a0
and
\u00a0
experience
\u00a0
in
\u00a0
each
\u00a0
country.
\u00a0
These
\u00a0
assumptions
\u00a0
translate
\u00a0
into
\u00a0
a
\u00a0
weighted
\u00a0
average
\u00a0
life
expectancy
\u00a0
in
\u00a0
years
\u00a0
for
\u00a0
a
\u00a0
pensioner
\u00a0
at
\u00a0
the
\u00a0
retirement
\u00a0
age
\u00a0
as
\u00a0
follows:
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
-
2023
2022
Plan
\u00a0
participants
\u00a0
retiring
\u00a0
at
\u00a0
the
\u00a0
end
\u00a0
of
\u00a0
the
\u00a0
financial
\u00a0
period:
Male
17,4
16,9
Female
19,6
19,2
Plan
\u00a0
participants
\u00a0
retiring
\u00a0
20
\u00a0
years
\u00a0
after
\u00a0
the
\u00a0
end
\u00a0
of
\u00a0
the
\u00a0
financial
\u00a0
period:
Male
17,2
16,7
Female
19,2
18,7
The
\u00a0
following
\u00a0
table
\u00a0
presents
\u00a0
a
\u00a0
sensitivity
\u00a0
analysis
\u00a0
for
\u00a0
each
\u00a0
significant
\u00a0
actuarial
\u00a0
assumption
\u00a0
showing
\u00a0
how
\u00a0
the
defined
\u00a0
benefit
\u00a0
obligation
\u00a0
would
\u00a0
have
\u00a0
been
\u00a0
affected
\u00a0
by
\u00a0
changes
\u00a0
in
\u00a0
the
\u00a0
relevant
\u00a0
actuarial
\u00a0
assumption
\u00a0
that
\u00a0
were
reasonably
\u00a0
possible
\u00a0
at
\u00a0
the
\u00a0
end
\u00a0
of
\u00a0
the
\u00a0
financial
\u00a0
period.
\u00a0
This
\u00a0
sensitivity
\u00a0
analysis
\u00a0
applies
\u00a0
to
\u00a0
the
\u00a0
defined
\u00a0
benefit
obligation
\u00a0
only
\u00a0
and
\u00a0
not
\u00a0
to
\u00a0
the
\u00a0
net
\u00a0
defined
\u00a0
benefit
\u00a0
pension
\u00a0
liability
\u00a0
in
\u00a0
its
\u00a0
entirety.
Sensitivity
\u00a0
analysis
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
-
Effect
\u00a0
to
\u00a0
defined
benefit
\u00a0
obligation,
\u00a0
MEUR
Change
\u00a0
in
\u00a0
assumption
2023
2022
Discount
\u00a0
rate
increase
\u00a0
1%
-22
-22
Discount
\u00a0
rate
decrease
\u00a0
1%
29
25
Future
\u00a0
salary
\u00a0
growth
increase
\u00a0
1%
8
5
Future
\u00a0
salary
\u00a0
growth
decrease
\u00a0
1%
-8
-5
Future
\u00a0
pension
\u00a0
growth
increase
\u00a0
1%
14
16
Future
\u00a0
pension
\u00a0
growth
decrease
\u00a0
1%
-7
-8
", "dimensions": { "concept": "ifrs-full:DisclosureOfEmployeeBenefitsExplanatory", "language": "en", "entity": "scheme:743700G7A9J1PHM3X223", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00" } }, "ID_26": { "value": "
Accounting
\u00a0
principles
Employee
\u00a0
benefits
\u00a0
are
\u00a0
all
\u00a0
forms
\u00a0
of
\u00a0
consideration
\u00a0
given
\u00a0
in
\u00a0
exchange
\u00a0
for
\u00a0
services
\u00a0
rendered
\u00a0
by
\u00a0
employees
\u00a0
or
for
\u00a0
the
\u00a0
termination
\u00a0
of
\u00a0
employment.
\u00a0
In
\u00a0
addition,
\u00a0
the
\u00a0
Group
\u00a0
has
\u00a0
personnel
\u00a0
expenses
\u00a0
related
\u00a0
to
\u00a0
share-based
payments
\u00a0
and
\u00a0
other
\u00a0
personnel
\u00a0
expenses.
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
The
\u00a0
measurement
\u00a0
of
\u00a0
the
\u00a0
share-based
\u00a0
long-term
\u00a0
incentive
\u00a0
schemes
\u00a0
is
\u00a0
dependent
\u00a0
on
\u00a0
the
\u00a0
terms
\u00a0
of
\u00a0
the
respective
\u00a0
scheme.
\u00a0
Incentive
\u00a0
rights,
\u00a0
which
\u00a0
are
\u00a0
settled
\u00a0
in
\u00a0
company\u2019s
\u00a0
shares,
\u00a0
are
\u00a0
measured
\u00a0
at
\u00a0
fair
\u00a0
value
\u00a0
at
grant
\u00a0
date.
\u00a0
Incentive
\u00a0
rights,
\u00a0
which
\u00a0
are
\u00a0
settled
\u00a0
in
\u00a0
cash,
\u00a0
are
\u00a0
measured
\u00a0
at
\u00a0
fair
\u00a0
value
\u00a0
at
\u00a0
the
\u00a0
end
\u00a0
of
\u00a0
each
reporting
\u00a0
period,
\u00a0
and
\u00a0
the
\u00a0
change
\u00a0
is
\u00a0
recognised
\u00a0
in
\u00a0
the
\u00a0
statement
\u00a0
of
\u00a0
income.
Market
\u00a0
based
\u00a0
vesting
\u00a0
conditions,
\u00a0
such
\u00a0
as
\u00a0
share
\u00a0
price
\u00a0
development,
\u00a0
are
\u00a0
considered
\u00a0
when
\u00a0
determining
\u00a0
the
fair
\u00a0
value
\u00a0
of
\u00a0
the
\u00a0
incentive
\u00a0
right.
\u00a0
Non-market
\u00a0
vesting
\u00a0
conditions,
\u00a0
such
\u00a0
as
\u00a0
Economic
\u00a0
Value
\u00a0
Added,
\u00a0
or
\u00a0
service
time
\u00a0
required
\u00a0
are
\u00a0
considered
\u00a0
when
\u00a0
estimating
\u00a0
the
\u00a0
number
\u00a0
of
\u00a0
shares
\u00a0
to
\u00a0
vest.
\u00a0
Estimates
\u00a0
of
\u00a0
the
\u00a0
number
\u00a0
of
shares
\u00a0
to
\u00a0
vest
\u00a0
are
\u00a0
revised
\u00a0
at
\u00a0
the
\u00a0
end
\u00a0
of
\u00a0
each
\u00a0
reporting
\u00a0
period
\u00a0
and
\u00a0
the
\u00a0
change
\u00a0
is
\u00a0
recognised
\u00a0
through
\u00a0
the
statement
\u00a0
of
\u00a0
income.
Cost
\u00a0
of
\u00a0
the
\u00a0
share-based
\u00a0
long-term
\u00a0
incentive
\u00a0
schemes
\u00a0
is
\u00a0
recognised
\u00a0
in
\u00a0
the
\u00a0
statement
\u00a0
of
\u00a0
income
\u00a0
as
employee
\u00a0
benefit
\u00a0
expenses
\u00a0
over
\u00a0
the
\u00a0
service
\u00a0
period
\u00a0
required
\u00a0
in
\u00a0
the
\u00a0
scheme.
\u00a0
For
\u00a0
incentive
\u00a0
rights
\u00a0
settled
\u00a0
in
company\u2019s
\u00a0
shares,
\u00a0
the
\u00a0
expense
\u00a0
is
\u00a0
recognised
\u00a0
against
\u00a0
equity,
\u00a0
and
\u00a0
for
\u00a0
incentive
\u00a0
rights
\u00a0
settled
\u00a0
in
\u00a0
cash,
\u00a0
the
expense
\u00a0
is
\u00a0
recognised
\u00a0
against
\u00a0
liabilities.
When
\u00a0
company
\u00a0
is
\u00a0
obliged
\u00a0
to
\u00a0
withhold
\u00a0
and
\u00a0
settle
\u00a0
in
\u00a0
cash
\u00a0
employee\u2019s
\u00a0
tax
\u00a0
obligation
\u00a0
associated
\u00a0
with
\u00a0
the
shares
\u00a0
vested
\u00a0
to
\u00a0
tax
\u00a0
authority,
\u00a0
the
\u00a0
portion
\u00a0
is
\u00a0
accounted
\u00a0
in
\u00a0
the
\u00a0
same
\u00a0
manner
\u00a0
as
\u00a0
the
\u00a0
portion
\u00a0
which
\u00a0
is
\u00a0
settled
in
\u00a0
shares.
The
\u00a0
Group
\u00a0
companies
\u00a0
have
\u00a0
various
\u00a0
pension
\u00a0
and
\u00a0
other
\u00a0
post-employment
\u00a0
benefit
\u00a0
plans
\u00a0
in
\u00a0
accordance
\u00a0
with
local
\u00a0
conditions
\u00a0
and
\u00a0
practices
\u00a0
worldwide.
\u00a0
These
\u00a0
plans
\u00a0
are
\u00a0
classified
\u00a0
either
\u00a0
as
\u00a0
defined
\u00a0
contribution
\u00a0
plans
\u00a0
or
defined
\u00a0
benefit
\u00a0
plans.
In
\u00a0
defined
\u00a0
contribution
\u00a0
plans,
\u00a0
the
\u00a0
Group
\u00a0
pays
\u00a0
fixed
\u00a0
contributions
\u00a0
into
\u00a0
a
\u00a0
separate
\u00a0
entity,
\u00a0
such
\u00a0
as
\u00a0
an
insurance
\u00a0
company.
\u00a0
The
\u00a0
Group
\u00a0
has
\u00a0
no
\u00a0
legal
\u00a0
or
\u00a0
constructive
\u00a0
obligation
\u00a0
to
\u00a0
pay
\u00a0
further
\u00a0
contributions
\u00a0
if
\u00a0
the
fund
\u00a0
does
\u00a0
not
\u00a0
hold
\u00a0
sufficient
\u00a0
assets
\u00a0
to
\u00a0
pay
\u00a0
employee
\u00a0
benefits.
\u00a0
The
\u00a0
contributions
\u00a0
are
\u00a0
recognised
\u00a0
in
\u00a0
the
statement
\u00a0
of
\u00a0
income
\u00a0
as
\u00a0
employee
\u00a0
benefit
\u00a0
expenses
\u00a0
in
\u00a0
the
\u00a0
period
\u00a0
to
\u00a0
which
\u00a0
they
\u00a0
relate.
Accounting
\u00a0
principles
\u00a0
for
\u00a0
defined
\u00a0
benefit
\u00a0
plans
\u00a0
are
\u00a0
presented
\u00a0
in
\u00a0
Note
\u00a0
4.7.
\u00a0
Pension
\u00a0
obligations.
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
Accounting
\u00a0
principles
Group
\u00a0
companies
\u00a0
in
\u00a0
different
\u00a0
countries
\u00a0
have
\u00a0
various
\u00a0
pension
\u00a0
plans
\u00a0
in
\u00a0
accordance
\u00a0
with
\u00a0
local
\u00a0
conditions
\u00a0
and
practices.
\u00a0
These
\u00a0
pension
\u00a0
plans
\u00a0
are
\u00a0
classified
\u00a0
either
\u00a0
as
\u00a0
defined
\u00a0
contribution
\u00a0
or
\u00a0
defined
\u00a0
benefit
\u00a0
plans.
Defined
\u00a0
benefit
\u00a0
plans
\u00a0
are
\u00a0
funded
\u00a0
through
\u00a0
contributions
\u00a0
to
\u00a0
pension
\u00a0
funds
\u00a0
or
\u00a0
pension
\u00a0
insurance
\u00a0
companies.
Defined
\u00a0
benefit
\u00a0
plans
\u00a0
may
\u00a0
be
\u00a0
unfunded
\u00a0
or
\u00a0
wholly
\u00a0
or
\u00a0
partly
\u00a0
funded.
\u00a0
The
\u00a0
present
\u00a0
value
\u00a0
of
\u00a0
the
\u00a0
obligation
arising
\u00a0
from
\u00a0
the
\u00a0
defined
\u00a0
benefit
\u00a0
plans
\u00a0
is
\u00a0
determined
\u00a0
per
\u00a0
each
\u00a0
plan
\u00a0
using
\u00a0
actuarial
\u00a0
techniques,
\u00a0
the
\u00a0
projected
unit
\u00a0
credit
\u00a0
method.
\u00a0
The
\u00a0
Group
\u00a0
recognises
\u00a0
the
\u00a0
defined
\u00a0
benefit
\u00a0
obligation,
\u00a0
net
\u00a0
of
\u00a0
fair
\u00a0
value
\u00a0
of
\u00a0
the
\u00a0
plan
\u00a0
assets,
at
\u00a0
the
\u00a0
end
\u00a0
of
\u00a0
the
\u00a0
financial
\u00a0
period.
Actuarial
\u00a0
gains
\u00a0
and
\u00a0
losses
\u00a0
and
\u00a0
other
\u00a0
re-measurements
\u00a0
of
\u00a0
the
\u00a0
net
\u00a0
defined
\u00a0
benefit
\u00a0
obligation
\u00a0
are
\u00a0
recognised
immediately
\u00a0
in
\u00a0
the
\u00a0
statement
\u00a0
of
\u00a0
other
\u00a0
comprehensive
\u00a0
income.
\u00a0
Current
\u00a0
service
\u00a0
cost
\u00a0
is
\u00a0
the
\u00a0
present
\u00a0
value
\u00a0
of
the
\u00a0
post-employment
\u00a0
benefit,
\u00a0
which
\u00a0
is
\u00a0
earned
\u00a0
by
\u00a0
the
\u00a0
employees
\u00a0
during
\u00a0
the
\u00a0
year.
\u00a0
The
\u00a0
Group
\u00a0
determines
\u00a0
the
net
\u00a0
interest
\u00a0
expense
\u00a0
on
\u00a0
the
\u00a0
net
\u00a0
defined
\u00a0
benefit
\u00a0
plan
\u00a0
by
\u00a0
applying
\u00a0
the
\u00a0
discount
\u00a0
rate
\u00a0
used
\u00a0
to
\u00a0
measure
\u00a0
the
defined
\u00a0
benefit
\u00a0
obligation.
\u00a0
Service
\u00a0
cost
\u00a0
is
\u00a0
recognised
\u00a0
in
\u00a0
employee
\u00a0
benefit
\u00a0
expenses
\u00a0
and
\u00a0
the
\u00a0
net
\u00a0
interest
\u00a0
in
financial
\u00a0
expenses.
\u00a0
The
\u00a0
defined
\u00a0
benefit
\u00a0
plans
\u00a0
are
\u00a0
calculated
\u00a0
by
\u00a0
qualified
\u00a0
actuaries.
In
\u00a0
addition
\u00a0
to
\u00a0
defined
\u00a0
benefit
\u00a0
plans,
\u00a0
W\u00e4rtsil\u00e4
\u00a0
has
\u00a0
other
\u00a0
long-term
\u00a0
employee
\u00a0
benefits,
\u00a0
which
\u00a0
are
\u00a0
presented
separately
\u00a0
from
\u00a0
the
\u00a0
defined
\u00a0
benefit
\u00a0
plans.
\u00a0
As
\u00a0
with
\u00a0
the
\u00a0
accounting
\u00a0
for
\u00a0
a
\u00a0
defined
\u00a0
benefit
\u00a0
plan,
\u00a0
for
\u00a0
any
\u00a0
other
long-term
\u00a0
benefit
\u00a0
the
\u00a0
Group
\u00a0
recognises
\u00a0
a
\u00a0
liability
\u00a0
for
\u00a0
the
\u00a0
obligation,
\u00a0
net
\u00a0
of
\u00a0
the
\u00a0
fair
\u00a0
value
\u00a0
of
\u00a0
the
\u00a0
plan
\u00a0
assets,
\u00a0
if
any.
\u00a0
Changes
\u00a0
in
\u00a0
other
\u00a0
long-term
\u00a0
employee
\u00a0
benefits
\u00a0
are
\u00a0
recognised
\u00a0
in
\u00a0
the
\u00a0
statement
\u00a0
of
\u00a0
income.
Accounting
\u00a0
principles
\u00a0
for
\u00a0
defined
\u00a0
contribution
\u00a0
plans
\u00a0
are
\u00a0
presented
\u00a0
in
\u00a0
Note
\u00a0
2.5.
\u00a0
Employee
\u00a0
benefit
\u00a0
expenses.
", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForEmployeeBenefitsExplanatory", "language": "en", "entity": "scheme:743700G7A9J1PHM3X223", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00" } }, "ID_27": { "value": "
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
The
\u00a0
measurement
\u00a0
of
\u00a0
the
\u00a0
share-based
\u00a0
long-term
\u00a0
incentive
\u00a0
schemes
\u00a0
is
\u00a0
dependent
\u00a0
on
\u00a0
the
\u00a0
terms
\u00a0
of
\u00a0
the
respective
\u00a0
scheme.
\u00a0
Incentive
\u00a0
rights,
\u00a0
which
\u00a0
are
\u00a0
settled
\u00a0
in
\u00a0
company\u2019s
\u00a0
shares,
\u00a0
are
\u00a0
measured
\u00a0
at
\u00a0
fair
\u00a0
value
\u00a0
at
grant
\u00a0
date.
\u00a0
Incentive
\u00a0
rights,
\u00a0
which
\u00a0
are
\u00a0
settled
\u00a0
in
\u00a0
cash,
\u00a0
are
\u00a0
measured
\u00a0
at
\u00a0
fair
\u00a0
value
\u00a0
at
\u00a0
the
\u00a0
end
\u00a0
of
\u00a0
each
reporting
\u00a0
period,
\u00a0
and
\u00a0
the
\u00a0
change
\u00a0
is
\u00a0
recognised
\u00a0
in
\u00a0
the
\u00a0
statement
\u00a0
of
\u00a0
income.
Market
\u00a0
based
\u00a0
vesting
\u00a0
conditions,
\u00a0
such
\u00a0
as
\u00a0
share
\u00a0
price
\u00a0
development,
\u00a0
are
\u00a0
considered
\u00a0
when
\u00a0
determining
\u00a0
the
fair
\u00a0
value
\u00a0
of
\u00a0
the
\u00a0
incentive
\u00a0
right.
\u00a0
Non-market
\u00a0
vesting
\u00a0
conditions,
\u00a0
such
\u00a0
as
\u00a0
Economic
\u00a0
Value
\u00a0
Added,
\u00a0
or
\u00a0
service
time
\u00a0
required
\u00a0
are
\u00a0
considered
\u00a0
when
\u00a0
estimating
\u00a0
the
\u00a0
number
\u00a0
of
\u00a0
shares
\u00a0
to
\u00a0
vest.
\u00a0
Estimates
\u00a0
of
\u00a0
the
\u00a0
number
\u00a0
of
shares
\u00a0
to
\u00a0
vest
\u00a0
are
\u00a0
revised
\u00a0
at
\u00a0
the
\u00a0
end
\u00a0
of
\u00a0
each
\u00a0
reporting
\u00a0
period
\u00a0
and
\u00a0
the
\u00a0
change
\u00a0
is
\u00a0
recognised
\u00a0
through
\u00a0
the
statement
\u00a0
of
\u00a0
income.
Cost
\u00a0
of
\u00a0
the
\u00a0
share-based
\u00a0
long-term
\u00a0
incentive
\u00a0
schemes
\u00a0
is
\u00a0
recognised
\u00a0
in
\u00a0
the
\u00a0
statement
\u00a0
of
\u00a0
income
\u00a0
as
employee
\u00a0
benefit
\u00a0
expenses
\u00a0
over
\u00a0
the
\u00a0
service
\u00a0
period
\u00a0
required
\u00a0
in
\u00a0
the
\u00a0
scheme.
\u00a0
For
\u00a0
incentive
\u00a0
rights
\u00a0
settled
\u00a0
in
company\u2019s
\u00a0
shares,
\u00a0
the
\u00a0
expense
\u00a0
is
\u00a0
recognised
\u00a0
against
\u00a0
equity,
\u00a0
and
\u00a0
for
\u00a0
incentive
\u00a0
rights
\u00a0
settled
\u00a0
in
\u00a0
cash,
\u00a0
the
expense
\u00a0
is
\u00a0
recognised
\u00a0
against
\u00a0
liabilities.
", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForSharebasedPaymentTransactionsExplanatory", "language": "en", "entity": "scheme:743700G7A9J1PHM3X223", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00" } }, "ID_28": { "value": "
Long-term
\u00a0
incentive
\u00a0
schemes
Wages
\u00a0
and
\u00a0
salaries
\u00a0
include
\u00a0
EUR
\u00a0
6
\u00a0
million
\u00a0
(1)
\u00a0
in
\u00a0
expenses
\u00a0
arising
\u00a0
from
\u00a0
share-based
\u00a0
long-term
\u00a0
incentive
schemes.
\u00a0
At
\u00a0
the
\u00a0
end
\u00a0
of
\u00a0
2023,
\u00a0
W\u00e4rtsil\u00e4
\u00a0
had
\u00a0
four
\u00a0
active
\u00a0
long-term
\u00a0
incentive
\u00a0
schemes.
The
\u00a0
long-term
\u00a0
incentive
\u00a0
scheme
\u00a0
for
\u00a0
period
\u00a0
2021-2023
\u00a0
is
\u00a0
a
\u00a0
performance
\u00a0
share
\u00a0
plan.
\u00a0
The
\u00a0
participants
\u00a0
are
granted
\u00a0
company
\u00a0
shares
\u00a0
if
\u00a0
the
\u00a0
pre-determined
\u00a0
minimum
\u00a0
level
\u00a0
in
\u00a0
company\u2019s
\u00a0
Economic
\u00a0
Value
\u00a0
Added
\u00a0
is
\u00a0
reached
and
\u00a0
employment
\u00a0
requirement
\u00a0
for
\u00a0
the
\u00a0
period
\u00a0
is
\u00a0
met.
\u00a0
The
\u00a0
number
\u00a0
of
\u00a0
shares
\u00a0
depends
\u00a0
on
\u00a0
the
\u00a0
level
\u00a0
of
\u00a0
achievement
and
\u00a0
is
\u00a0
capped
\u00a0
to
\u00a0
175%
\u00a0
of
\u00a0
the
\u00a0
target
\u00a0
level.
\u00a0
There
\u00a0
is
\u00a0
also
\u00a0
a
\u00a0
cap
\u00a0
set
\u00a0
to
\u00a0
the
\u00a0
pay-out
\u00a0
in
\u00a0
relation
\u00a0
to
\u00a0
individuals\u2019
\u00a0
base
pay
\u00a0
at
\u00a0
grant
\u00a0
date.
\u00a0
On
\u00a0
target
\u00a0
level,
\u00a0
the
\u00a0
scheme
\u00a0
would
\u00a0
entitle
\u00a0
the
\u00a0
participants
\u00a0
to
\u00a0
a
\u00a0
total
\u00a0
reward
\u00a0
of
\u00a0
1,178,303
shares.
\u00a0
In
\u00a0
certain
\u00a0
countries
\u00a0
the
\u00a0
equivalent
\u00a0
reward
\u00a0
would
\u00a0
be
\u00a0
settled
\u00a0
in
\u00a0
cash
\u00a0
due
\u00a0
to
\u00a0
local
\u00a0
legislation.
\u00a0
The
\u00a0
fair
value
\u00a0
of
\u00a0
the
\u00a0
share
\u00a0
determined
\u00a0
at
\u00a0
grant
\u00a0
date
\u00a0
for
\u00a0
accounting
\u00a0
of
\u00a0
2021-2023
\u00a0
scheme
\u00a0
is
\u00a0
EUR
\u00a0
8.42.
\u00a0
\n
\u00a0
\n
\u00a0
\n
The
\u00a0
long-term
\u00a0
incentive
\u00a0
scheme
\u00a0
for
\u00a0
period
\u00a0
2022-2024
\u00a0
is
\u00a0
a
\u00a0
performance
\u00a0
share
\u00a0
plan.
\u00a0
The
\u00a0
participants
\u00a0
are
granted
\u00a0
company
\u00a0
shares
\u00a0
if
\u00a0
the
\u00a0
pre-determined
\u00a0
minimum
\u00a0
level
\u00a0
in
\u00a0
company\u2019s
\u00a0
Economic
\u00a0
Value
\u00a0
Added
\u00a0
(85%
weight)
\u00a0
and
\u00a0
Sustainability
\u00a0
targets
\u00a0
(15%
\u00a0
weight)
\u00a0
are
\u00a0
reached,
\u00a0
as
\u00a0
well
\u00a0
as
\u00a0
employment
\u00a0
requirement
\u00a0
for
\u00a0
the
\u00a0
period
is
\u00a0
met.
\u00a0
The
\u00a0
number
\u00a0
of
\u00a0
shares
\u00a0
depends
\u00a0
on
\u00a0
the
\u00a0
level
\u00a0
of
\u00a0
achievement
\u00a0
and
\u00a0
is
\u00a0
capped
\u00a0
to
\u00a0
175%
\u00a0
of
\u00a0
the
\u00a0
target
\u00a0
level.
There
\u00a0
is
\u00a0
also
\u00a0
a
\u00a0
cap
\u00a0
set
\u00a0
to
\u00a0
the
\u00a0
pay-out
\u00a0
in
\u00a0
relation
\u00a0
to
\u00a0
individuals\u2019
\u00a0
base
\u00a0
pay
\u00a0
at
\u00a0
grant
\u00a0
date.
\u00a0
On
\u00a0
target
\u00a0
level,
\u00a0
the
scheme
\u00a0
would
\u00a0
entitle
\u00a0
the
\u00a0
participants
\u00a0
to
\u00a0
a
\u00a0
total
\u00a0
reward
\u00a0
of
\u00a0
1,125,787
\u00a0
shares.
\u00a0
In
\u00a0
certain
\u00a0
countries
\u00a0
the
\u00a0
equivalent
reward
\u00a0
would
\u00a0
be
\u00a0
settled
\u00a0
in
\u00a0
cash
\u00a0
due
\u00a0
to
\u00a0
local
\u00a0
legislation.
\u00a0
The
\u00a0
fair
\u00a0
value
\u00a0
of
\u00a0
the
\u00a0
share
\u00a0
determined
\u00a0
at
\u00a0
grant
\u00a0
date
\u00a0
for
accounting
\u00a0
of
\u00a0
2022-2024
\u00a0
scheme
\u00a0
is
\u00a0
EUR
\u00a0
9.53.
The
\u00a0
long-term
\u00a0
incentive
\u00a0
scheme
\u00a0
for
\u00a0
period
\u00a0
2023-2025
\u00a0
is
\u00a0
a
\u00a0
performance
\u00a0
share
\u00a0
plan.
\u00a0
The
\u00a0
participants
\u00a0
are
granted
\u00a0
company
\u00a0
shares
\u00a0
if
\u00a0
the
\u00a0
pre-determined
\u00a0
minimum
\u00a0
level
\u00a0
in
\u00a0
company\u2019s
\u00a0
Economic
\u00a0
Value
\u00a0
Added
\u00a0
(85%
weight)
\u00a0
and
\u00a0
Sustainability
\u00a0
targets
\u00a0
(15%
\u00a0
weight)
\u00a0
are
\u00a0
reached,
\u00a0
as
\u00a0
well
\u00a0
as
\u00a0
employment
\u00a0
requirement
\u00a0
for
\u00a0
the
\u00a0
period
is
\u00a0
met.
\u00a0
The
\u00a0
number
\u00a0
of
\u00a0
shares
\u00a0
depends
\u00a0
on
\u00a0
the
\u00a0
level
\u00a0
of
\u00a0
achievement
\u00a0
and
\u00a0
is
\u00a0
capped
\u00a0
to
\u00a0
175%
\u00a0
of
\u00a0
the
\u00a0
target
\u00a0
level.
There
\u00a0
is
\u00a0
also
\u00a0
a
\u00a0
cap
\u00a0
set
\u00a0
to
\u00a0
the
\u00a0
pay-out
\u00a0
in
\u00a0
relation
\u00a0
to
\u00a0
individuals\u2019
\u00a0
base
\u00a0
pay
\u00a0
at
\u00a0
grant
\u00a0
date.
\u00a0
On
\u00a0
target
\u00a0
level,
\u00a0
the
scheme
\u00a0
would
\u00a0
entitle
\u00a0
the
\u00a0
participants
\u00a0
to
\u00a0
a
\u00a0
total
\u00a0
reward
\u00a0
of
\u00a0
1,708,764
\u00a0
shares.
\u00a0
In
\u00a0
certain
\u00a0
countries
\u00a0
the
\u00a0
equivalent
reward
\u00a0
would
\u00a0
be
\u00a0
settled
\u00a0
in
\u00a0
cash
\u00a0
due
\u00a0
to
\u00a0
local
\u00a0
legislation.
\u00a0
The
\u00a0
fair
\u00a0
value
\u00a0
of
\u00a0
the
\u00a0
share
\u00a0
determined
\u00a0
at
\u00a0
grant
\u00a0
date
\u00a0
for
accounting
\u00a0
of
\u00a0
2023-2025
\u00a0
scheme
\u00a0
is
\u00a0
EUR
\u00a0
7.82.
W\u00e4rtsil\u00e4
\u00a0
has
\u00a0
a
\u00a0
restricted
\u00a0
share
\u00a0
plan
\u00a0
for
\u00a0
retention
\u00a0
of
\u00a0
individually
\u00a0
selected
\u00a0
key
\u00a0
employees
\u00a0
in
\u00a0
specific
\u00a0
situations.
The
\u00a0
restricted
\u00a0
share
\u00a0
plan
\u00a0
2023-2025
\u00a0
entitles
\u00a0
participants
\u00a0
to
\u00a0
a
\u00a0
total
\u00a0
reward
\u00a0
of
\u00a0
662,446
\u00a0
shares.
\u00a0
The
\u00a0
reward
\u00a0
will
be
\u00a0
payable
\u00a0
after
\u00a0
the
\u00a0
retention
\u00a0
period
\u00a0
of
\u00a0
three
\u00a0
years.
\u00a0
If
\u00a0
the
\u00a0
individual\u2019s
\u00a0
employment
\u00a0
with
\u00a0
W\u00e4rtsil\u00e4
\u00a0
terminates
before
\u00a0
the
\u00a0
payment
\u00a0
of
\u00a0
the
\u00a0
reward,
\u00a0
the
\u00a0
individual
\u00a0
is
\u00a0
not
\u00a0
entitled
\u00a0
to
\u00a0
any
\u00a0
reward
\u00a0
based
\u00a0
on
\u00a0
the
\u00a0
respective
\u00a0
plan.
\u00a0
In
certain
\u00a0
countries
\u00a0
the
\u00a0
equivalent
\u00a0
reward
\u00a0
would
\u00a0
be
\u00a0
settled
\u00a0
in
\u00a0
cash
\u00a0
due
\u00a0
to
\u00a0
local
\u00a0
legislation.
\u00a0
The
\u00a0
fair
\u00a0
value
\u00a0
of
\u00a0
the
share
\u00a0
determined
\u00a0
at
\u00a0
grant
\u00a0
date
\u00a0
for
\u00a0
accounting
\u00a0
of
\u00a0
2023-2025
\u00a0
retention
\u00a0
plan
\u00a0
is
\u00a0
EUR
\u00a0
9.32.
", "dimensions": { "concept": "ifrs-full:DisclosureOfSharebasedPaymentArrangementsExplanatory", "language": "en", "entity": "scheme:743700G7A9J1PHM3X223", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00" } }, "ID_29": { "value": "
2.6.
\u00a0
INCOME
\u00a0
TAXES
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
Accounting
\u00a0
principles
The
\u00a0
statement
\u00a0
of
\u00a0
income
\u00a0
includes
\u00a0
taxes
\u00a0
payable
\u00a0
based
\u00a0
on
\u00a0
the
\u00a0
Group\u2019s
\u00a0
consolidated
\u00a0
taxable
\u00a0
income
\u00a0
for
\u00a0
the
financial
\u00a0
period
\u00a0
in
\u00a0
accordance
\u00a0
with
\u00a0
local
\u00a0
tax
\u00a0
regulations,
\u00a0
tax
\u00a0
adjustments
\u00a0
for
\u00a0
previous
\u00a0
financial
\u00a0
periods,
\u00a0
and
changes
\u00a0
in
\u00a0
deferred
\u00a0
taxes.
\u00a0
Tax
\u00a0
effects
\u00a0
related
\u00a0
to
\u00a0
transactions
\u00a0
recognised
\u00a0
through
\u00a0
the
\u00a0
statement
\u00a0
of
\u00a0
income
and
\u00a0
other
\u00a0
events
\u00a0
are
\u00a0
recognised
\u00a0
in
\u00a0
the
\u00a0
statement
\u00a0
of
\u00a0
income.
\u00a0
Tax
\u00a0
effects
\u00a0
related
\u00a0
to
\u00a0
transactions
\u00a0
or
\u00a0
other
events
\u00a0
to
\u00a0
be
\u00a0
presented
\u00a0
as
\u00a0
components
\u00a0
of
\u00a0
other
\u00a0
comprehensive
\u00a0
income
\u00a0
or
\u00a0
directly
\u00a0
in
\u00a0
equity
\u00a0
are
\u00a0
also
recognised,
\u00a0
respectively,
\u00a0
in
\u00a0
other
\u00a0
comprehensive
\u00a0
income
\u00a0
or
\u00a0
directly
\u00a0
in
\u00a0
equity.
The
\u00a0
current
\u00a0
income
\u00a0
tax
\u00a0
charge
\u00a0
is
\u00a0
calculated
\u00a0
according
\u00a0
to
\u00a0
tax
\u00a0
laws
\u00a0
enacted,
\u00a0
or
\u00a0
substantively
\u00a0
enacted,
\u00a0
at
\u00a0
the
end
\u00a0
of
\u00a0
the
\u00a0
reporting
\u00a0
period
\u00a0
in
\u00a0
the
\u00a0
countries
\u00a0
where
\u00a0
the
\u00a0
company
\u00a0
and
\u00a0
its
\u00a0
subsidiaries
\u00a0
operate
\u00a0
and
\u00a0
generate
taxable
\u00a0
income.
Accounting
\u00a0
estimates
\u00a0
and
\u00a0
judgements
The
\u00a0
Group
\u00a0
is
\u00a0
subject
\u00a0
to
\u00a0
income
\u00a0
taxes
\u00a0
in
\u00a0
several
\u00a0
jurisdictions
\u00a0
and
\u00a0
the
\u00a0
computation
\u00a0
of
\u00a0
the
\u00a0
Group\u00b4s
\u00a0
income
\u00a0
tax
expense
\u00a0
and
\u00a0
income
\u00a0
tax
\u00a0
liabilities
\u00a0
require
\u00a0
judgement
\u00a0
and
\u00a0
estimation.
\u00a0
Income
\u00a0
tax
\u00a0
positions
\u00a0
are
\u00a0
regularly
evaluated
\u00a0
by
\u00a0
management
\u00a0
to
\u00a0
identify
\u00a0
situations
\u00a0
when
\u00a0
there
\u00a0
might
\u00a0
be
\u00a0
uncertainty
\u00a0
due
\u00a0
to
\u00a0
tax
\u00a0
regulation
\u00a0
being
subject
\u00a0
to
\u00a0
interpretation.
\u00a0
Provisions
\u00a0
for
\u00a0
these
\u00a0
uncertain
\u00a0
tax
\u00a0
positions
\u00a0
are
\u00a0
recognised
\u00a0
when
\u00a0
it
\u00a0
is
\u00a0
considered
more
\u00a0
likely
\u00a0
than
\u00a0
not
\u00a0
that
\u00a0
the
\u00a0
positions
\u00a0
will
\u00a0
be
\u00a0
challenged
\u00a0
by
\u00a0
the
\u00a0
tax
\u00a0
authorities.
\u00a0
The
\u00a0
provision
\u00a0
recognised
\u00a0
is
based
\u00a0
on
\u00a0
the
\u00a0
estimation
\u00a0
of
\u00a0
the
\u00a0
amount
\u00a0
of
\u00a0
the
\u00a0
final
\u00a0
taxes
\u00a0
to
\u00a0
be
\u00a0
paid
\u00a0
to
\u00a0
the
\u00a0
tax
\u00a0
authorities.
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
MEUR
2023
2022
Income
\u00a0
taxes
for
\u00a0
the
\u00a0
financial
\u00a0
period
-105
-80
for
\u00a0
prior
\u00a0
financial
\u00a0
periods
-10
6
Change
\u00a0
in
\u00a0
deferred
\u00a0
tax
origination
\u00a0
and
\u00a0
reversal
\u00a0
of
\u00a0
temporary
\u00a0
differences
19
48
changes
\u00a0
in
\u00a0
tax
\u00a0
rates
-1
Total
-95
-26
Reconciliation
\u00a0
of
\u00a0
effective
\u00a0
tax
\u00a0
rate:
Result
\u00a0
before
\u00a0
taxes
364
-32
Tax
\u00a0
calculated
\u00a0
at
\u00a0
the
\u00a0
domestic
\u00a0
corporate
\u00a0
tax
\u00a0
rate
\u00a0
20.0%
-73
6
Effect
\u00a0
of
\u00a0
changed
\u00a0
tax
\u00a0
rates
-1
Effect
\u00a0
of
\u00a0
different
\u00a0
tax
\u00a0
rates
\u00a0
in
\u00a0
foreign
\u00a0
subsidiaries
-4
3
Effect
\u00a0
of
\u00a0
income
\u00a0
not
\u00a0
subject
\u00a0
to
\u00a0
tax
\u00a0
and
\u00a0
non
\u00a0
-deductible
\u00a0
expenses
7
-21
Effect
\u00a0
of
\u00a0
share
\u00a0
of
\u00a0
result
\u00a0
of
\u00a0
associates
\u00a0
and
\u00a0
joint
\u00a0
ventures
2
1
Utilisation
\u00a0
of
\u00a0
previously
\u00a0
unrecognised
\u00a0
tax
\u00a0
losses
\u00a0
carried
\u00a0
forward
2
-2
Unrecognised
\u00a0
taxes
\u00a0
on
\u00a0
losses
\u00a0
carried
\u00a0
forward
-6
-3
Other
\u00a0
taxes*
-11
-14
Other
\u00a0
temporary
\u00a0
differences
-2
-2
Income
\u00a0
taxes
\u00a0
for
\u00a0
prior
\u00a0
financial
\u00a0
periods
-10
6
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
Tax
\u00a0
charge
\u00a0
in
\u00a0
the
\u00a0
consolidated
\u00a0
statement
\u00a0
of
\u00a0
income
-95
-26
Effective
\u00a0
tax
\u00a0
rate
\u00a0
(%)
26,1
-81,5
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
*
\u00a0
Other
\u00a0
taxes
\u00a0
consist
\u00a0
mainly
\u00a0
of
\u00a0
withholding
\u00a0
taxes
\u00a0
not
\u00a0
utilised
\u00a0
and
\u00a0
taxes
\u00a0
not
\u00a0
directly
\u00a0
based
\u00a0
on
\u00a0
taxable
\u00a0
income.
Income
\u00a0
taxes
\u00a0
related
\u00a0
to
\u00a0
other
\u00a0
comprehensive
\u00a0
income
\u00a0
are
\u00a0
presented
\u00a0
in
\u00a0
Consolidated
\u00a0
statement
\u00a0
of
comprehensive
\u00a0
income.
\u00a0
Changes
\u00a0
in
\u00a0
deferred
\u00a0
tax
\u00a0
assets
\u00a0
and
\u00a0
liabilities
\u00a0
are
\u00a0
presented
\u00a0
in
\u00a0
Note
\u00a0
4.6.
\u00a0
Deferred
taxes.
In
\u00a0
some
\u00a0
countries
\u00a0
W\u00e4rtsil\u00e4
\u00a0
is
\u00a0
subject
\u00a0
to
\u00a0
tax
\u00a0
audits,
\u00a0
which
\u00a0
can
\u00a0
result
\u00a0
in
\u00a0
tax
\u00a0
reassessment
\u00a0
decisions
\u00a0
and
obligations
\u00a0
to
\u00a0
pay
\u00a0
additional
\u00a0
taxes
\u00a0
and
\u00a0
related
\u00a0
payments.
W\u00e4rtsil\u00e4
\u00a0
is
\u00a0
within
\u00a0
the
\u00a0
scope
\u00a0
of
\u00a0
the
\u00a0
OECD
\u00a0
Pillar
\u00a0
Two
\u00a0
Model
\u00a0
Rules.
\u00a0
Since
\u00a0
the
\u00a0
legislation
\u00a0
is
\u00a0
effective
\u00a0
as
\u00a0
of
\u00a0
1
January
\u00a0
2024,
\u00a0
there
\u00a0
is
\u00a0
no
\u00a0
current
\u00a0
tax
\u00a0
impact
\u00a0
for
\u00a0
year
\u00a0
2023.
\u00a0
W\u00e4rtsil\u00e4
\u00a0
has
\u00a0
applied
\u00a0
the
\u00a0
mandatory
\u00a0
exception
\u00a0
to
recognising
\u00a0
and
\u00a0
disclosing
\u00a0
information
\u00a0
about
\u00a0
deferred
\u00a0
tax
\u00a0
assets
\u00a0
and
\u00a0
liabilities
\u00a0
arising
\u00a0
from
\u00a0
Pillar
\u00a0
Two
\u00a0
income
taxes.
\u00a0
W\u00e4rtsil\u00e4
\u00a0
has
\u00a0
assessed
\u00a0
its
\u00a0
corporate
\u00a0
structure
\u00a0
considering
\u00a0
Pillar
\u00a0
Two
\u00a0
Model
\u00a0
Rules
\u00a0
in
\u00a0
jurisdictions
\u00a0
where
the
\u00a0
Group
\u00a0
operates.
\u00a0
The
\u00a0
Group\u00b4s
\u00a0
effective
\u00a0
tax
\u00a0
rate
\u00a0
is
\u00a0
above
\u00a0
15%
\u00a0
in
\u00a0
all
\u00a0
major
\u00a0
locations
\u00a0
except
\u00a0
for
\u00a0
subsidiaries
located
\u00a0
in
\u00a0
Switzerland,
\u00a0
United
\u00a0
Arab
\u00a0
Emirates,
\u00a0
Cyprus,
\u00a0
Oman,
\u00a0
and
\u00a0
Qatar.
\u00a0
According
\u00a0
to
\u00a0
the
\u00a0
Group\u00b4s
assessment,
\u00a0
the
\u00a0
amount
\u00a0
of
\u00a0
top-up
\u00a0
taxes
\u00a0
is
\u00a0
not
\u00a0
significant.
MEUR
Group
\u00a0
entities
operating
\u00a0
in
above
mentioned
jurisdictions
Tax
\u00a0
expense
\u00a0
for
\u00a0
year
\u00a0
ending
\u00a0
on
\u00a0
31
\u00a0
December
\u00a0
2023
-14
Result
\u00a0
before
\u00a0
taxes
\u00a0
for
\u00a0
year
\u00a0
ending
\u00a0
31
\u00a0
December
\u00a0
2023
112
Average
\u00a0
effective
\u00a0
tax
\u00a0
rate
\u00a0
in
\u00a0
2023
\u00a0
(%)
12,1
", "dimensions": { "concept": "ifrs-full:DisclosureOfIncomeTaxExplanatory", "language": "en", "entity": "scheme:743700G7A9J1PHM3X223", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00" } }, "ID_30": { "value": "
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
Accounting
\u00a0
principles
The
\u00a0
statement
\u00a0
of
\u00a0
income
\u00a0
includes
\u00a0
taxes
\u00a0
payable
\u00a0
based
\u00a0
on
\u00a0
the
\u00a0
Group\u2019s
\u00a0
consolidated
\u00a0
taxable
\u00a0
income
\u00a0
for
\u00a0
the
financial
\u00a0
period
\u00a0
in
\u00a0
accordance
\u00a0
with
\u00a0
local
\u00a0
tax
\u00a0
regulations,
\u00a0
tax
\u00a0
adjustments
\u00a0
for
\u00a0
previous
\u00a0
financial
\u00a0
periods,
\u00a0
and
changes
\u00a0
in
\u00a0
deferred
\u00a0
taxes.
\u00a0
Tax
\u00a0
effects
\u00a0
related
\u00a0
to
\u00a0
transactions
\u00a0
recognised
\u00a0
through
\u00a0
the
\u00a0
statement
\u00a0
of
\u00a0
income
and
\u00a0
other
\u00a0
events
\u00a0
are
\u00a0
recognised
\u00a0
in
\u00a0
the
\u00a0
statement
\u00a0
of
\u00a0
income.
\u00a0
Tax
\u00a0
effects
\u00a0
related
\u00a0
to
\u00a0
transactions
\u00a0
or
\u00a0
other
events
\u00a0
to
\u00a0
be
\u00a0
presented
\u00a0
as
\u00a0
components
\u00a0
of
\u00a0
other
\u00a0
comprehensive
\u00a0
income
\u00a0
or
\u00a0
directly
\u00a0
in
\u00a0
equity
\u00a0
are
\u00a0
also
recognised,
\u00a0
respectively,
\u00a0
in
\u00a0
other
\u00a0
comprehensive
\u00a0
income
\u00a0
or
\u00a0
directly
\u00a0
in
\u00a0
equity.
The
\u00a0
current
\u00a0
income
\u00a0
tax
\u00a0
charge
\u00a0
is
\u00a0
calculated
\u00a0
according
\u00a0
to
\u00a0
tax
\u00a0
laws
\u00a0
enacted,
\u00a0
or
\u00a0
substantively
\u00a0
enacted,
\u00a0
at
\u00a0
the
end
\u00a0
of
\u00a0
the
\u00a0
reporting
\u00a0
period
\u00a0
in
\u00a0
the
\u00a0
countries
\u00a0
where
\u00a0
the
\u00a0
company
\u00a0
and
\u00a0
its
\u00a0
subsidiaries
\u00a0
operate
\u00a0
and
\u00a0
generate
taxable
\u00a0
income.
", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForIncomeTaxExplanatory", "language": "en", "entity": "scheme:743700G7A9J1PHM3X223", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00" } }, "ID_31": { "value": "
2.7.
\u00a0
EARNINGS
\u00a0
PER
\u00a0
SHARE
Earnings
\u00a0
per
\u00a0
share
\u00a0
(EPS)
\u00a0
is
\u00a0
calculated
\u00a0
by
\u00a0
dividing
\u00a0
the
\u00a0
result
\u00a0
for
\u00a0
the
\u00a0
financial
\u00a0
period
\u00a0
attributable
\u00a0
to
\u00a0
equity
holders
\u00a0
of
\u00a0
the
\u00a0
parent
\u00a0
company
\u00a0
by
\u00a0
the
\u00a0
weighted
\u00a0
average
\u00a0
number
\u00a0
of
\u00a0
shares
\u00a0
outstanding
\u00a0
during
\u00a0
the
\u00a0
period.
Equity-settled
\u00a0
share-based
\u00a0
payments
W\u00e4rtsil\u00e4
\u00a0
has
\u00a0
long-term
\u00a0
incentive
\u00a0
schemes,
\u00a0
which
\u00a0
can
\u00a0
be
\u00a0
settled
\u00a0
in
\u00a0
company
\u00a0
shares.
\u00a0
These
\u00a0
contingently
issuable
\u00a0
ordinary
\u00a0
shares
\u00a0
and
\u00a0
unvested
\u00a0
shares
\u00a0
are
\u00a0
issuable
\u00a0
when
\u00a0
certain
\u00a0
pre-defined
\u00a0
conditions
\u00a0
in
\u00a0
the
\u00a0
incentive
programmes
\u00a0
are
\u00a0
met
\u00a0
during
\u00a0
a
\u00a0
timeframe
\u00a0
set
\u00a0
in
\u00a0
the
\u00a0
incentive
\u00a0
programmes\u2019
\u00a0
conditions.
\u00a0
If
\u00a0
the
\u00a0
settlement
\u00a0
would
happen
\u00a0
at
\u00a0
the
\u00a0
reporting
\u00a0
date,
\u00a0
it
\u00a0
would
\u00a0
result
\u00a0
in
\u00a0
issuing
\u00a0
280,427
\u00a0
shares.
\u00a0
These
\u00a0
shares
\u00a0
are
\u00a0
considered
\u00a0
as
potential
\u00a0
ordinary
\u00a0
shares
\u00a0
causing
\u00a0
dilutive
\u00a0
effect
\u00a0
to
\u00a0
the
\u00a0
EPS.
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
MEUR
2023
2022
Result
\u00a0
for
\u00a0
the
\u00a0
financial
\u00a0
period
\u00a0
attributable
\u00a0
to
\u00a0
equity
\u00a0
holders
\u00a0
of
\u00a0
the
\u00a0
parent
\u00a0
company
258
-64
Weighted
\u00a0
average
\u00a0
number
\u00a0
of
\u00a0
shares
\u00a0
outstanding
\u00a0
during
\u00a0
the
\u00a0
period
589
\u00a0
343
\u00a0
965
590
\u00a0
023
\u00a0
390
Weighted
\u00a0
average
\u00a0
number
\u00a0
of
\u00a0
dilutive
\u00a0
potential
\u00a0
ordinary
\u00a0
shares
\u00a0
during
\u00a0
the
\u00a0
period
280
\u00a0
427
160
\u00a0
213
Weighted
\u00a0
average
\u00a0
number
\u00a0
of
\u00a0
shares
\u00a0
outstanding
\u00a0
during
\u00a0
the
\u00a0
period
\u00a0
to
\u00a0
be
\u00a0
used
\u00a0
in
\u00a0
the
calculation
\u00a0
of
\u00a0
diluted
\u00a0
EPS
589
\u00a0
624
\u00a0
392
590
\u00a0
183
\u00a0
603
Earnings
\u00a0
per
\u00a0
share
\u00a0
attributable
\u00a0
to
\u00a0
equity
\u00a0
holders
\u00a0
of
\u00a0
the
\u00a0
parent
\u00a0
company:
Earnings
\u00a0
per
\u00a0
share
\u00a0
(EPS),
\u00a0
basic,
\u00a0
EUR
0,44
-0,11
Earnings
\u00a0
per
\u00a0
share
\u00a0
(EPS),
\u00a0
diluted,
\u00a0
EUR
0,44
-0,11
Additional
\u00a0
information
\u00a0
on
\u00a0
the
\u00a0
number
\u00a0
of
\u00a0
shares
\u00a0
is
\u00a0
presented
\u00a0
in
\u00a0
Note
\u00a0
5.5.
\u00a0
Equity.
", "dimensions": { "concept": "ifrs-full:DisclosureOfEarningsPerShareExplanatory", "language": "en", "entity": "scheme:743700G7A9J1PHM3X223", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00" } }, "ID_32": { "value": "
\u00a0
\n
\u00a0
\n
3.1.
\u00a0
GOODWILL
Accounting
\u00a0
principles
Goodwill
\u00a0
is
\u00a0
the
\u00a0
difference
\u00a0
between
\u00a0
the
\u00a0
aggregate
\u00a0
of
\u00a0
the
\u00a0
acquisition-date
\u00a0
fair
\u00a0
value
\u00a0
of
\u00a0
the
\u00a0
consideration
transferred,
\u00a0
and
\u00a0
the
\u00a0
acquirer\u2019s
\u00a0
share
\u00a0
of
\u00a0
the
\u00a0
company\u2019s
\u00a0
net
\u00a0
identifiable
\u00a0
assets
\u00a0
and
\u00a0
liabilities
\u00a0
measured
\u00a0
at
\u00a0
fair
value
\u00a0
on
\u00a0
the
\u00a0
acquisition
\u00a0
date.
\u00a0
The
\u00a0
consideration
\u00a0
is
\u00a0
measured
\u00a0
at
\u00a0
fair
\u00a0
value,
\u00a0
including
\u00a0
also
\u00a0
the
\u00a0
acquirer\u2019s
previously
\u00a0
held
\u00a0
equity
\u00a0
interest.
Goodwill
\u00a0
allocation
Goodwill
\u00a0
arising
\u00a0
from
\u00a0
business
\u00a0
acquisitions
\u00a0
has
\u00a0
been
\u00a0
allocated
\u00a0
to
\u00a0
the
\u00a0
operating
\u00a0
segments
\u00a0
and
\u00a0
other
business
\u00a0
activities,
\u00a0
which
\u00a0
are
\u00a0
also
\u00a0
the
\u00a0
Group\u2019s
\u00a0
cash
\u00a0
generating
\u00a0
units
\u00a0
(CGU)
\u00a0
in
\u00a0
impairment
\u00a0
testing
\u00a0
of
goodwill.
\u00a0
These
\u00a0
are
\u00a0
Marine
\u00a0
Power,
\u00a0
Marine
\u00a0
Systems,
\u00a0
Energy,
\u00a0
and
\u00a0
Portfolio
\u00a0
Business.
Impairment
\u00a0
of
\u00a0
goodwill
The
\u00a0
carrying
\u00a0
amount
\u00a0
of
\u00a0
goodwill
\u00a0
allocated
\u00a0
to
\u00a0
cash
\u00a0
generating
\u00a0
units
\u00a0
is
\u00a0
reviewed
\u00a0
annually
\u00a0
for
\u00a0
signs
\u00a0
of
possible
\u00a0
impairment,
\u00a0
or
\u00a0
more
\u00a0
frequently
\u00a0
should
\u00a0
any
\u00a0
indication
\u00a0
of
\u00a0
impairment
\u00a0
arise.
\u00a0
If
\u00a0
any
\u00a0
such
\u00a0
indication
exists,
\u00a0
the
\u00a0
recoverable
\u00a0
amount
\u00a0
of
\u00a0
the
\u00a0
goodwill
\u00a0
is
\u00a0
estimated.
\u00a0
In
\u00a0
order
\u00a0
to
\u00a0
define
\u00a0
a
\u00a0
possible
\u00a0
impairment,
\u00a0
the
Group\u2019s
\u00a0
assets
\u00a0
are
\u00a0
divided
\u00a0
into
\u00a0
the
\u00a0
smallest
\u00a0
possible
\u00a0
cash
\u00a0
generating
\u00a0
units,
\u00a0
which
\u00a0
are
\u00a0
mainly
\u00a0
independent
of
\u00a0
other
\u00a0
units,
\u00a0
and
\u00a0
the
\u00a0
cash
\u00a0
flows
\u00a0
of
\u00a0
which
\u00a0
are
\u00a0
separately
\u00a0
identifiable
\u00a0
and
\u00a0
to
\u00a0
a
\u00a0
large
\u00a0
extent
\u00a0
independent
\u00a0
of
the
\u00a0
cash
\u00a0
flows
\u00a0
of
\u00a0
other
\u00a0
similar
\u00a0
units.
An
\u00a0
impairment
\u00a0
loss
\u00a0
is
\u00a0
recognised
\u00a0
when
\u00a0
the
\u00a0
carrying
\u00a0
amount
\u00a0
of
\u00a0
an
\u00a0
asset
\u00a0
is
\u00a0
greater
\u00a0
than
\u00a0
its
\u00a0
recoverable
amount.
\u00a0
The
\u00a0
recoverable
\u00a0
amount
\u00a0
is
\u00a0
the
\u00a0
higher
\u00a0
of
\u00a0
an
\u00a0
asset\u2019s
\u00a0
fair
\u00a0
value
\u00a0
less
\u00a0
costs
\u00a0
to
\u00a0
sell
\u00a0
and
\u00a0
its
\u00a0
value
\u00a0
in
\u00a0
use.
The
\u00a0
value
\u00a0
in
\u00a0
use
\u00a0
for
\u00a0
goodwill
\u00a0
is
\u00a0
based
\u00a0
on
\u00a0
the
\u00a0
expected
\u00a0
discounted
\u00a0
future
\u00a0
net
\u00a0
cash
\u00a0
flows
\u00a0
resulting
\u00a0
from
\u00a0
the
asset
\u00a0
or
\u00a0
cash
\u00a0
generating
\u00a0
unit.
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
A
\u00a0
pre-tax
\u00a0
rate,
\u00a0
which
\u00a0
reflects
\u00a0
the
\u00a0
markets\u2019
\u00a0
position
\u00a0
on
\u00a0
the
\u00a0
time
\u00a0
value
\u00a0
of
\u00a0
money
\u00a0
and
\u00a0
asset-specific
\u00a0
risks,
\u00a0
is
used
\u00a0
as
\u00a0
the
\u00a0
discount
\u00a0
rate.
An
\u00a0
impairment
\u00a0
loss
\u00a0
is
\u00a0
recognised
\u00a0
immediately
\u00a0
in
\u00a0
the
\u00a0
statement
\u00a0
of
\u00a0
income
\u00a0
as
\u00a0
depreciation,
\u00a0
amortisation
\u00a0
and
impairment.
\u00a0
An
\u00a0
impairment
\u00a0
loss
\u00a0
recognised
\u00a0
for
\u00a0
goodwill
\u00a0
is
\u00a0
not
\u00a0
reversed
\u00a0
under
\u00a0
any
\u00a0
circumstances.
Accounting
\u00a0
estimates
\u00a0
and
\u00a0
judgements
The
\u00a0
recoverable
\u00a0
amounts
\u00a0
of
\u00a0
goodwill
\u00a0
are
\u00a0
determined
\u00a0
for
\u00a0
all
\u00a0
cash
\u00a0
generating
\u00a0
units
\u00a0
annually,
\u00a0
or
\u00a0
more
\u00a0
often
\u00a0
if
there
\u00a0
is
\u00a0
an
\u00a0
indication
\u00a0
of
\u00a0
an
\u00a0
impairment,
\u00a0
where
\u00a0
its
\u00a0
value
\u00a0
in
\u00a0
use
\u00a0
is
\u00a0
determined.
\u00a0
The
\u00a0
value
\u00a0
in
\u00a0
use
\u00a0
is
\u00a0
determined
using
\u00a0
estimates
\u00a0
of
\u00a0
future
\u00a0
cash
\u00a0
flows,
\u00a0
which
\u00a0
are
\u00a0
impacted
\u00a0
by
\u00a0
future
\u00a0
market
\u00a0
development,
\u00a0
such
\u00a0
as
\u00a0
growth
and
\u00a0
profitability,
\u00a0
as
\u00a0
well
\u00a0
as
\u00a0
other
\u00a0
significant
\u00a0
factors.
\u00a0
The
\u00a0
most
\u00a0
important
\u00a0
factors
\u00a0
underlying
\u00a0
such
\u00a0
estimates
are
\u00a0
the
\u00a0
net
\u00a0
sales
\u00a0
growth
\u00a0
in
\u00a0
the
\u00a0
market
\u00a0
area,
\u00a0
the
\u00a0
operating
\u00a0
margin,
\u00a0
the
\u00a0
useful
\u00a0
life
\u00a0
of
\u00a0
the
\u00a0
assets,
\u00a0
future
investment
\u00a0
needs,
\u00a0
and
\u00a0
the
\u00a0
discount
\u00a0
rate.
\u00a0
Changes
\u00a0
in
\u00a0
these
\u00a0
assumptions
\u00a0
can
\u00a0
significantly
\u00a0
affect
\u00a0
the
expected
\u00a0
future
\u00a0
cash
\u00a0
flows.
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
Goodwill
\u00a0
2023
MEUR
2023
W\u00e4rtsil\u00e4
\u00a0
Group
W\u00e4rtsil\u00e4
\u00a0
on
\u00a0
1
\u00a0
January
1
\u00a0
288
Changes
\u00a0
in
\u00a0
exchange
\u00a0
rates
-7
W\u00e4rtsil\u00e4
\u00a0
on
\u00a0
31
\u00a0
March
1
\u00a0
281
Changes
\u00a0
in
\u00a0
exchange
\u00a0
rates
8
Impairment
-15
W\u00e4rtsil\u00e4
\u00a0
on
\u00a0
30
\u00a0
June
1
\u00a0
273
Changes
\u00a0
in
\u00a0
exchange
\u00a0
rates
-1
W\u00e4rtsil\u00e4
\u00a0
on
\u00a0
31
\u00a0
December
1
\u00a0
273
Impairment
\u00a0
of
\u00a0
goodwill
\u00a0
relates
\u00a0
to
\u00a0
the
\u00a0
additional
\u00a0
impairment
\u00a0
testing
\u00a0
of
\u00a0
goodwill
\u00a0
performed
\u00a0
during
\u00a0
the
\u00a0
second
quarter
\u00a0
of
\u00a0
2023
\u00a0
for
\u00a0
CGU
\u00a0
Portfolio
\u00a0
Business.
\u00a0
Additional
\u00a0
impairment
\u00a0
testing
\u00a0
was
\u00a0
performed
\u00a0
due
\u00a0
to
\u00a0
the
\u00a0
new
organisational
\u00a0
structure.
\u00a0
As
\u00a0
a
\u00a0
result
\u00a0
of
\u00a0
the
\u00a0
impairment
\u00a0
test,
\u00a0
an
\u00a0
impairment
\u00a0
of
\u00a0
EUR
\u00a0
45
\u00a0
million
\u00a0
was
\u00a0
recognised,
\u00a0
of
which
\u00a0
EUR
\u00a0
15
\u00a0
million
\u00a0
related
\u00a0
to
\u00a0
goodwill
\u00a0
and
\u00a0
the
\u00a0
rest
\u00a0
to
\u00a0
other
\u00a0
non-current
\u00a0
assets.
Goodwill
\u00a0
allocation
During
\u00a0
the
\u00a0
first
\u00a0
quarter
\u00a0
of
\u00a0
2023,
\u00a0
goodwill
\u00a0
relating
\u00a0
to
\u00a0
CGU
\u00a0
Voyage
\u00a0
has
\u00a0
been
\u00a0
allocated
\u00a0
to
\u00a0
CGU
\u00a0
Marine
\u00a0
Power
\u00a0
as
Voyage
\u00a0
was
\u00a0
integrated
\u00a0
with
\u00a0
Marine
\u00a0
Power
\u00a0
as
\u00a0
of
\u00a0
1
\u00a0
January
\u00a0
2023.
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
During
\u00a0
the
\u00a0
second
\u00a0
quarter
\u00a0
of
\u00a0
2023,
\u00a0
a
\u00a0
part
\u00a0
of
\u00a0
Marine
\u00a0
Power,
\u00a0
as
\u00a0
well
\u00a0
as
\u00a0
a
\u00a0
part
\u00a0
of
\u00a0
Marine
\u00a0
Systems,
\u00a0
have
\u00a0
been
moved
\u00a0
to
\u00a0
Portfolio
\u00a0
Business.
\u00a0
The
\u00a0
reallocation
\u00a0
of
\u00a0
goodwill
\u00a0
has
\u00a0
been
\u00a0
performed
\u00a0
using
\u00a0
a
\u00a0
relative
\u00a0
value
\u00a0
approach,
in
\u00a0
which
\u00a0
the
\u00a0
goodwill
\u00a0
is
\u00a0
allocated
\u00a0
to
\u00a0
businesses
\u00a0
based
\u00a0
on
\u00a0
the
\u00a0
fair
\u00a0
values
\u00a0
of
\u00a0
the
\u00a0
businesses
\u00a0
at
\u00a0
the
\u00a0
reallocation
moment.
MEUR
Marine
Power
Marine
Systems
Voyage
Energy
Portfolio
Business
Total
W\u00e4rtsil\u00e4
\u00a0
on
\u00a0
31
\u00a0
December
\u00a0
2022
544
168
59
511
5
1
\u00a0
288
W\u00e4rtsil\u00e4
\u00a0
on
\u00a0
31
\u00a0
March
\u00a0
2023
600
168
509
5
1
\u00a0
281
W\u00e4rtsil\u00e4
\u00a0
on
\u00a0
30
\u00a0
June
\u00a0
2023
588
160
511
13
1
\u00a0
273
W\u00e4rtsil\u00e4
\u00a0
on
\u00a0
31
\u00a0
December
\u00a0
2023
588
160
511
13
1
\u00a0
273
Intermediate
\u00a0
impairment
\u00a0
testing\u2019s
\u00a0
during
\u00a0
first
\u00a0
half
\u00a0
of
\u00a0
the
\u00a0
year
As
\u00a0
of
\u00a0
1
\u00a0
January
\u00a0
2023,
\u00a0
Voyage
\u00a0
has
\u00a0
been
\u00a0
integrated
\u00a0
with
\u00a0
Marine
\u00a0
Power.
\u00a0
Due
\u00a0
to
\u00a0
the
\u00a0
new
\u00a0
organisational
structure,
\u00a0
W\u00e4rtsil\u00e4
\u00a0
performed
\u00a0
an
\u00a0
intermediate
\u00a0
impairment
\u00a0
testing
\u00a0
of
\u00a0
goodwill
\u00a0
during
\u00a0
the
\u00a0
first
\u00a0
quarter
\u00a0
of
\u00a0
2023
\u00a0
for
CGU
\u00a0
Voyage.
\u00a0
As
\u00a0
a
\u00a0
result
\u00a0
of
\u00a0
the
\u00a0
impairment
\u00a0
test,
\u00a0
no
\u00a0
impairment
\u00a0
loss
\u00a0
for
\u00a0
the
\u00a0
CGU
\u00a0
was
\u00a0
recognised
\u00a0
for
\u00a0
the
reporting
\u00a0
period
\u00a0
ended
\u00a0
31
\u00a0
March
\u00a0
2023.
During
\u00a0
the
\u00a0
second
\u00a0
quarter
\u00a0
of
\u00a0
2023,
\u00a0
a
\u00a0
part
\u00a0
of
\u00a0
Marine
\u00a0
Power
\u00a0
(NACOS
\u00a0
Navigation,
\u00a0
NACOS
\u00a0
Automation,
\u00a0
Dynamic
Positioning
\u00a0
and
\u00a0
sensors)
\u00a0
has
\u00a0
been
\u00a0
integrated
\u00a0
into
\u00a0
a
\u00a0
new
\u00a0
business
\u00a0
unit
\u00a0
and
\u00a0
moved
\u00a0
to
\u00a0
Portfolio
\u00a0
Business.
Additionally,
\u00a0
business
\u00a0
unit
\u00a0
Marine
\u00a0
Electrical
\u00a0
Systems
\u00a0
was
\u00a0
moved
\u00a0
from
\u00a0
Marine
\u00a0
Systems
\u00a0
to
\u00a0
Portfolio
\u00a0
Business
due
\u00a0
to
\u00a0
its
\u00a0
limited
\u00a0
strategic
\u00a0
fit
\u00a0
with
\u00a0
the
\u00a0
rest
\u00a0
of
\u00a0
the
\u00a0
Group.
\u00a0
Due
\u00a0
to
\u00a0
the
\u00a0
new
\u00a0
organisational
\u00a0
structure,
\u00a0
W\u00e4rtsil\u00e4
performed
\u00a0
an
\u00a0
intermediate
\u00a0
impairment
\u00a0
testing
\u00a0
of
\u00a0
goodwill
\u00a0
during
\u00a0
the
\u00a0
second
\u00a0
quarter
\u00a0
of
\u00a0
2023
\u00a0
for
\u00a0
CGU
\u00a0
Portfolio
Business.
\u00a0
As
\u00a0
a
\u00a0
result
\u00a0
of
\u00a0
the
\u00a0
impairment
\u00a0
test,
\u00a0
an
\u00a0
impairment
\u00a0
of
\u00a0
EUR
\u00a0
45
\u00a0
million
\u00a0
was
\u00a0
recognised,
\u00a0
of
\u00a0
which
\u00a0
EUR
15
\u00a0
million
\u00a0
related
\u00a0
to
\u00a0
goodwill
\u00a0
and
\u00a0
the
\u00a0
rest
\u00a0
to
\u00a0
other
\u00a0
non-current
\u00a0
assets.
Annual
\u00a0
impairment
\u00a0
testing
\u00a0
of
\u00a0
goodwill
The
\u00a0
Group
\u00a0
performed
\u00a0
its
\u00a0
annual
\u00a0
impairment
\u00a0
testing
\u00a0
of
\u00a0
goodwill
\u00a0
during
\u00a0
the
\u00a0
third
\u00a0
quarter
\u00a0
of
\u00a0
the
\u00a0
year.
\u00a0
W\u00e4rtsil\u00e4
compared
\u00a0
the
\u00a0
recoverable
\u00a0
amount
\u00a0
of
\u00a0
each
\u00a0
business
\u00a0
against
\u00a0
its
\u00a0
carrying
\u00a0
amount
\u00a0
to
\u00a0
define
\u00a0
whether
\u00a0
there
\u00a0
were
any
\u00a0
indications
\u00a0
of
\u00a0
goodwill
\u00a0
impairment.
For
\u00a0
Marine
\u00a0
Power,
\u00a0
Marine
\u00a0
Systems
\u00a0
and
\u00a0
Energy,
\u00a0
the
\u00a0
recoverable
\u00a0
amounts
\u00a0
were
\u00a0
defined
\u00a0
based
\u00a0
on
\u00a0
the
discounted
\u00a0
cash
\u00a0
flow
\u00a0
method,
\u00a0
derived
\u00a0
from
\u00a0
the
\u00a0
order
\u00a0
book
\u00a0
and
\u00a0
five-year
\u00a0
cash
\u00a0
flow
\u00a0
projections
\u00a0
from
\u00a0
strategic
plans.
\u00a0
The
\u00a0
estimated
\u00a0
cash
\u00a0
flows
\u00a0
of
\u00a0
the
\u00a0
CGUs
\u00a0
were
\u00a0
based
\u00a0
on
\u00a0
the
\u00a0
utilisation
\u00a0
of
\u00a0
existing
\u00a0
property,
\u00a0
plant
\u00a0
and
equipment
\u00a0
in
\u00a0
their
\u00a0
current
\u00a0
condition
\u00a0
with
\u00a0
normal
\u00a0
maintenance
\u00a0
capital
\u00a0
expenditure,
\u00a0
excluding
\u00a0
any
\u00a0
potential
future
\u00a0
acquisitions.
\u00a0
Cash
\u00a0
flows
\u00a0
beyond
\u00a0
the
\u00a0
five-year
\u00a0
period
\u00a0
were
\u00a0
calculated
\u00a0
using
\u00a0
the
\u00a0
terminal
\u00a0
value
\u00a0
method.
Also
\u00a0
for
\u00a0
business
\u00a0
units
\u00a0
under
\u00a0
Portfolio
\u00a0
Business,
\u00a0
the
\u00a0
recoverable
\u00a0
amounts
\u00a0
were
\u00a0
defined
\u00a0
based
\u00a0
on
\u00a0
the
discounted
\u00a0
cash
\u00a0
flow
\u00a0
method.
\u00a0
Cash
\u00a0
flows
\u00a0
beyond
\u00a0
the
\u00a0
five-year
\u00a0
period
\u00a0
were
\u00a0
calculated
\u00a0
using
\u00a0
the
\u00a0
terminal
\u00a0
value
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
method.
\u00a0
The
\u00a0
terminal
\u00a0
growth
\u00a0
rate
\u00a0
used
\u00a0
in
\u00a0
projections
\u00a0
is
\u00a0
based
\u00a0
on
\u00a0
management\u2019s
\u00a0
assessment
\u00a0
on
\u00a0
conservative
long-term
\u00a0
growth.
\u00a0
The
\u00a0
terminal
\u00a0
growth
\u00a0
rate
\u00a0
used
\u00a0
in
\u00a0
the
\u00a0
calculations
\u00a0
were:
Terminal
\u00a0
growth
\u00a0
rate,
\u00a0
%
2023
Marine
\u00a0
Power
1,5
Marine
\u00a0
Systems
1,5
Energy
2,0
Portfolio
\u00a0
Business
1,5
The
\u00a0
key
\u00a0
driver
\u00a0
for
\u00a0
the
\u00a0
valuation
\u00a0
is
\u00a0
growth
\u00a0
in
\u00a0
the
\u00a0
global
\u00a0
economy,
\u00a0
and
\u00a0
in
\u00a0
particular,
\u00a0
the
\u00a0
development
\u00a0
of
\u00a0
the
global
\u00a0
power
\u00a0
market,
\u00a0
the
\u00a0
global
\u00a0
shipbuilding
\u00a0
industry,
\u00a0
and
\u00a0
the
\u00a0
demand
\u00a0
for
\u00a0
any
\u00a0
related
\u00a0
services.
\u00a0
The
\u00a0
projected
development
\u00a0
of
\u00a0
total
\u00a0
costs
\u00a0
in
\u00a0
the
\u00a0
market
\u00a0
affects
\u00a0
the
\u00a0
profitability,
\u00a0
whereas
\u00a0
no
\u00a0
single
\u00a0
cost
\u00a0
item
\u00a0
is
\u00a0
considered
\u00a0
to
have
\u00a0
a
\u00a0
material
\u00a0
impact.
\u00a0
The
\u00a0
valuation
\u00a0
driver
\u00a0
for
\u00a0
new
\u00a0
equipment
\u00a0
sales
\u00a0
is
\u00a0
growth
\u00a0
in
\u00a0
the
\u00a0
global
\u00a0
economy,
whereas
\u00a0
for
\u00a0
after
\u00a0
sales
\u00a0
the
\u00a0
drivers
\u00a0
also
\u00a0
include
\u00a0
the
\u00a0
demand
\u00a0
for
\u00a0
related
\u00a0
services
\u00a0
and
\u00a0
the
\u00a0
projected
\u00a0
development
in
\u00a0
labour
\u00a0
costs.
The
\u00a0
applied
\u00a0
discount
\u00a0
rates
\u00a0
are
\u00a0
the
\u00a0
weighted
\u00a0
average
\u00a0
pre-tax
\u00a0
cost
\u00a0
of
\u00a0
capital
\u00a0
(WACC)
\u00a0
for
\u00a0
each
\u00a0
CGU
\u00a0
as
\u00a0
defined
by
\u00a0
W\u00e4rtsil\u00e4.
\u00a0
The
\u00a0
components
\u00a0
of
\u00a0
the
\u00a0
WACC
\u00a0
rates
\u00a0
are
\u00a0
risk-free
\u00a0
rate,
\u00a0
market
\u00a0
risk
\u00a0
premium,
\u00a0
industry
\u00a0
specific
\u00a0
beta,
cost
\u00a0
of
\u00a0
debt,
\u00a0
and
\u00a0
debt
\u00a0
equity
\u00a0
ratio.
\u00a0
W\u00e4rtsil\u00e4
\u00a0
has
\u00a0
used
\u00a0
the
\u00a0
following
\u00a0
WACC
\u00a0
rates
\u00a0
for
\u00a0
each
\u00a0
CGU:
WACC
\u00a0
rate,
\u00a0
%
2023
Marine
\u00a0
Power
12,1
Marine
\u00a0
Systems
12,6
Energy
12,5
Portfolio
\u00a0
Business
12,2
As
\u00a0
a
\u00a0
result
\u00a0
of
\u00a0
the
\u00a0
impairment
\u00a0
test,
\u00a0
no
\u00a0
impairment
\u00a0
loss
\u00a0
for
\u00a0
the
\u00a0
CGUs
\u00a0
was
\u00a0
recognised
\u00a0
for
\u00a0
the
\u00a0
financial
\u00a0
period.
The
\u00a0
recoverable
\u00a0
amounts
\u00a0
of
\u00a0
CGUs
\u00a0
Marine
\u00a0
Power,
\u00a0
Marine
\u00a0
Systems,
\u00a0
and
\u00a0
Energy
\u00a0
exceeded
\u00a0
their
\u00a0
respective
carrying
\u00a0
amounts
\u00a0
substantially.
\u00a0
Also,
\u00a0
the
\u00a0
recoverable
\u00a0
amount
\u00a0
of
\u00a0
Portfolio
\u00a0
Business
\u00a0
exceeded
\u00a0
its
\u00a0
respective
carrying
\u00a0
amount.
Sensitivity
\u00a0
analysis
Management
\u00a0
has
\u00a0
assessed
\u00a0
that
\u00a0
no
\u00a0
reasonable
\u00a0
possible
\u00a0
changes
\u00a0
in
\u00a0
the
\u00a0
key
\u00a0
assumptions
\u00a0
for
\u00a0
CGUs
\u00a0
Marine
Power,
\u00a0
Marine
\u00a0
Systems,
\u00a0
or
\u00a0
for
\u00a0
Energy
\u00a0
would
\u00a0
cause
\u00a0
the
\u00a0
carrying
\u00a0
amount
\u00a0
of
\u00a0
any
\u00a0
CGU
\u00a0
to
\u00a0
exceed
\u00a0
its
\u00a0
recoverable
amount.
A
\u00a0
sensitivity
\u00a0
analysis
\u00a0
has
\u00a0
been
\u00a0
carried
\u00a0
out
\u00a0
for
\u00a0
Portfolio
\u00a0
Business
\u00a0
for
\u00a0
the
\u00a0
valuation
\u00a0
of
\u00a0
the
\u00a0
recoverable
\u00a0
amount
\u00a0
of
the
\u00a0
CGU
\u00a0
by
\u00a0
changing
\u00a0
the
\u00a0
assumptions
\u00a0
used
\u00a0
in
\u00a0
the
\u00a0
calculation.
\u00a0
A
\u00a0
change
\u00a0
in
\u00a0
an
\u00a0
assumption
\u00a0
that
\u00a0
would
\u00a0
cause
the
\u00a0
recoverable
\u00a0
amount
\u00a0
to
\u00a0
equal
\u00a0
the
\u00a0
carrying
\u00a0
amount
\u00a0
is
\u00a0
presented
\u00a0
in
\u00a0
the
\u00a0
following
\u00a0
table.
\u00a0
\n
\u00a0
\n
\u00a0
\n
-
Change
Portfolio
\u00a0
Business
Pre-tax
\u00a0
discount
\u00a0
rate
increase
\u00a0
more
\u00a0
than
\u00a0
2
\u00a0
percentage
\u00a0
points
Terminal
\u00a0
growth
\u00a0
rate
decrease
\u00a0
more
\u00a0
than
\u00a0
3
\u00a0
percentage
\u00a0
points
Profitability
decrease
\u00a0
more
\u00a0
than
\u00a0
20
\u00a0
percentage
The
\u00a0
defined
\u00a0
recoverable
\u00a0
amount
\u00a0
of
\u00a0
CGU
\u00a0
Portfolio
\u00a0
Business
\u00a0
also
\u00a0
exceeded
\u00a0
the
\u00a0
carrying
\u00a0
amount
\u00a0
of
\u00a0
the
\u00a0
unit
\u00a0
in
the
\u00a0
annual
\u00a0
impairment
\u00a0
test.
\u00a0
There
\u00a0
was
\u00a0
no
\u00a0
additional
\u00a0
impairment
\u00a0
recognised
\u00a0
after
\u00a0
the
\u00a0
additional
\u00a0
impairment
testing
\u00a0
conducted
\u00a0
during
\u00a0
the
\u00a0
second
\u00a0
quarter
\u00a0
of
\u00a0
2023.
The
\u00a0
key
\u00a0
assumptions
\u00a0
for
\u00a0
CGU
\u00a0
Portfolio
\u00a0
Business
\u00a0
relate
\u00a0
to
\u00a0
terminal
\u00a0
growth
\u00a0
rate
\u00a0
of
\u00a0
the
\u00a0
unit,
\u00a0
and
\u00a0
to
\u00a0
profitability
used
\u00a0
for
\u00a0
terminal
\u00a0
value
\u00a0
of
\u00a0
the
\u00a0
unit.
\u00a0
Key
\u00a0
assumptions
\u00a0
used
\u00a0
in
\u00a0
the
\u00a0
testing
\u00a0
for
\u00a0
terminal
\u00a0
values
\u00a0
are
\u00a0
the
\u00a0
average
terminal
\u00a0
growth
\u00a0
rate
\u00a0
of
\u00a0
1.5%
\u00a0
and
\u00a0
that
\u00a0
the
\u00a0
average
\u00a0
terminal
\u00a0
value
\u00a0
profitability
\u00a0
of
\u00a0
the
\u00a0
business
\u00a0
units,
\u00a0
i.e.
comparable
\u00a0
operating
\u00a0
result,
\u00a0
as
\u00a0
a
\u00a0
percentage
\u00a0
of
\u00a0
net
\u00a0
sales,
\u00a0
would
\u00a0
amount
\u00a0
to
\u00a0
4.5%.
\u00a0
Any
\u00a0
future
\u00a0
negative
changes
\u00a0
in
\u00a0
these
\u00a0
assumptions
\u00a0
would
\u00a0
have
\u00a0
an
\u00a0
adverse
\u00a0
impact
\u00a0
on
\u00a0
the
\u00a0
valuation
\u00a0
of
\u00a0
the
\u00a0
business.
\u00a0
In
\u00a0
addition
when
\u00a0
business
\u00a0
units
\u00a0
included
\u00a0
in
\u00a0
Portfolio
\u00a0
Business
\u00a0
would
\u00a0
be
\u00a0
classified
\u00a0
as
\u00a0
assets
\u00a0
held
\u00a0
for
\u00a0
sale
\u00a0
in
\u00a0
the
\u00a0
future,
\u00a0
the
possible
\u00a0
impairment
\u00a0
would
\u00a0
be
\u00a0
dependent
\u00a0
on
\u00a0
the
\u00a0
selling
\u00a0
price
\u00a0
on
\u00a0
cash-free
\u00a0
debt-free
\u00a0
basis.
In
\u00a0
management\u2019s
\u00a0
opinion,
\u00a0
the
\u00a0
changes
\u00a0
in
\u00a0
the
\u00a0
basic
\u00a0
assumptions
\u00a0
shall
\u00a0
not
\u00a0
be
\u00a0
seen
\u00a0
as
\u00a0
an
\u00a0
indication
\u00a0
that
\u00a0
these
factors
\u00a0
are
\u00a0
likely
\u00a0
to
\u00a0
materialise.
\u00a0
The
\u00a0
sensitivity
\u00a0
analyses
\u00a0
are
\u00a0
hypothetical
\u00a0
and
\u00a0
should
\u00a0
therefore
\u00a0
be
\u00a0
treated
\u00a0
with
caution.
Intermediate
\u00a0
impairment
\u00a0
testing
\u00a0
after
\u00a0
annual
\u00a0
impairment
\u00a0
test
In
\u00a0
November
\u00a0
2023,
\u00a0
W\u00e4rtsil\u00e4
\u00a0
announced
\u00a0
its
\u00a0
plan
\u00a0
to
\u00a0
simplify
\u00a0
its
\u00a0
organisation
\u00a0
and
\u00a0
reporting
\u00a0
structure.
\u00a0
Marine
Systems
\u00a0
is
\u00a0
to
\u00a0
be
\u00a0
discontinued
\u00a0
as
\u00a0
a
\u00a0
reportable
\u00a0
segment.
\u00a0
Due
\u00a0
to
\u00a0
the
\u00a0
new
\u00a0
organisational
\u00a0
structure
\u00a0
valid
\u00a0
from
\u00a0
1
January
\u00a0
2024
\u00a0
onwards,
\u00a0
W\u00e4rtsil\u00e4
\u00a0
performed
\u00a0
an
\u00a0
intermediate
\u00a0
impairment
\u00a0
testing
\u00a0
of
\u00a0
goodwill
\u00a0
during
\u00a0
the
\u00a0
fourth
quarter
\u00a0
of
\u00a0
2023
\u00a0
for
\u00a0
CGU
\u00a0
Marine
\u00a0
Systems.
\u00a0
As
\u00a0
a
\u00a0
result
\u00a0
of
\u00a0
the
\u00a0
impairment
\u00a0
test,
\u00a0
no
\u00a0
impairment
\u00a0
loss
\u00a0
for
\u00a0
the
\u00a0
CGU
was
\u00a0
recognised
\u00a0
for
\u00a0
the
\u00a0
reporting
\u00a0
period
\u00a0
ended
\u00a0
31
\u00a0
December
\u00a0
2023.
\u00a0
There
\u00a0
are
\u00a0
no
\u00a0
other
\u00a0
indications
\u00a0
of
impairment
\u00a0
of
\u00a0
goodwill
\u00a0
after
\u00a0
the
\u00a0
annual
\u00a0
impairment
\u00a0
testing.
", "dimensions": { "concept": "ifrs-full:DisclosureOfGoodwillExplanatory", "language": "en", "entity": "scheme:743700G7A9J1PHM3X223", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00" } }, "ID_34": { "value": "
Accounting
\u00a0
principles
Goodwill
\u00a0
is
\u00a0
the
\u00a0
difference
\u00a0
between
\u00a0
the
\u00a0
aggregate
\u00a0
of
\u00a0
the
\u00a0
acquisition-date
\u00a0
fair
\u00a0
value
\u00a0
of
\u00a0
the
\u00a0
consideration
transferred,
\u00a0
and
\u00a0
the
\u00a0
acquirer\u2019s
\u00a0
share
\u00a0
of
\u00a0
the
\u00a0
company\u2019s
\u00a0
net
\u00a0
identifiable
\u00a0
assets
\u00a0
and
\u00a0
liabilities
\u00a0
measured
\u00a0
at
\u00a0
fair
value
\u00a0
on
\u00a0
the
\u00a0
acquisition
\u00a0
date.
\u00a0
The
\u00a0
consideration
\u00a0
is
\u00a0
measured
\u00a0
at
\u00a0
fair
\u00a0
value,
\u00a0
including
\u00a0
also
\u00a0
the
\u00a0
acquirer\u2019s
previously
\u00a0
held
\u00a0
equity
\u00a0
interest.
Goodwill
\u00a0
allocation
Goodwill
\u00a0
arising
\u00a0
from
\u00a0
business
\u00a0
acquisitions
\u00a0
has
\u00a0
been
\u00a0
allocated
\u00a0
to
\u00a0
the
\u00a0
operating
\u00a0
segments
\u00a0
and
\u00a0
other
business
\u00a0
activities,
\u00a0
which
\u00a0
are
\u00a0
also
\u00a0
the
\u00a0
Group\u2019s
\u00a0
cash
\u00a0
generating
\u00a0
units
\u00a0
(CGU)
\u00a0
in
\u00a0
impairment
\u00a0
testing
\u00a0
of
goodwill.
\u00a0
These
\u00a0
are
\u00a0
Marine
\u00a0
Power,
\u00a0
Marine
\u00a0
Systems,
\u00a0
Energy,
\u00a0
and
\u00a0
Portfolio
\u00a0
Business.
Impairment
\u00a0
of
\u00a0
goodwill
The
\u00a0
carrying
\u00a0
amount
\u00a0
of
\u00a0
goodwill
\u00a0
allocated
\u00a0
to
\u00a0
cash
\u00a0
generating
\u00a0
units
\u00a0
is
\u00a0
reviewed
\u00a0
annually
\u00a0
for
\u00a0
signs
\u00a0
of
possible
\u00a0
impairment,
\u00a0
or
\u00a0
more
\u00a0
frequently
\u00a0
should
\u00a0
any
\u00a0
indication
\u00a0
of
\u00a0
impairment
\u00a0
arise.
\u00a0
If
\u00a0
any
\u00a0
such
\u00a0
indication
exists,
\u00a0
the
\u00a0
recoverable
\u00a0
amount
\u00a0
of
\u00a0
the
\u00a0
goodwill
\u00a0
is
\u00a0
estimated.
\u00a0
In
\u00a0
order
\u00a0
to
\u00a0
define
\u00a0
a
\u00a0
possible
\u00a0
impairment,
\u00a0
the
Group\u2019s
\u00a0
assets
\u00a0
are
\u00a0
divided
\u00a0
into
\u00a0
the
\u00a0
smallest
\u00a0
possible
\u00a0
cash
\u00a0
generating
\u00a0
units,
\u00a0
which
\u00a0
are
\u00a0
mainly
\u00a0
independent
of
\u00a0
other
\u00a0
units,
\u00a0
and
\u00a0
the
\u00a0
cash
\u00a0
flows
\u00a0
of
\u00a0
which
\u00a0
are
\u00a0
separately
\u00a0
identifiable
\u00a0
and
\u00a0
to
\u00a0
a
\u00a0
large
\u00a0
extent
\u00a0
independent
\u00a0
of
the
\u00a0
cash
\u00a0
flows
\u00a0
of
\u00a0
other
\u00a0
similar
\u00a0
units.
An
\u00a0
impairment
\u00a0
loss
\u00a0
is
\u00a0
recognised
\u00a0
when
\u00a0
the
\u00a0
carrying
\u00a0
amount
\u00a0
of
\u00a0
an
\u00a0
asset
\u00a0
is
\u00a0
greater
\u00a0
than
\u00a0
its
\u00a0
recoverable
amount.
\u00a0
The
\u00a0
recoverable
\u00a0
amount
\u00a0
is
\u00a0
the
\u00a0
higher
\u00a0
of
\u00a0
an
\u00a0
asset\u2019s
\u00a0
fair
\u00a0
value
\u00a0
less
\u00a0
costs
\u00a0
to
\u00a0
sell
\u00a0
and
\u00a0
its
\u00a0
value
\u00a0
in
\u00a0
use.
The
\u00a0
value
\u00a0
in
\u00a0
use
\u00a0
for
\u00a0
goodwill
\u00a0
is
\u00a0
based
\u00a0
on
\u00a0
the
\u00a0
expected
\u00a0
discounted
\u00a0
future
\u00a0
net
\u00a0
cash
\u00a0
flows
\u00a0
resulting
\u00a0
from
\u00a0
the
asset
\u00a0
or
\u00a0
cash
\u00a0
generating
\u00a0
unit.
A
\u00a0
pre-tax
\u00a0
rate,
\u00a0
which
\u00a0
reflects
\u00a0
the
\u00a0
markets\u2019
\u00a0
position
\u00a0
on
\u00a0
the
\u00a0
time
\u00a0
value
\u00a0
of
\u00a0
money
\u00a0
and
\u00a0
asset-specific
\u00a0
risks,
\u00a0
is
used
\u00a0
as
\u00a0
the
\u00a0
discount
\u00a0
rate.
An
\u00a0
impairment
\u00a0
loss
\u00a0
is
\u00a0
recognised
\u00a0
immediately
\u00a0
in
\u00a0
the
\u00a0
statement
\u00a0
of
\u00a0
income
\u00a0
as
\u00a0
depreciation,
\u00a0
amortisation
\u00a0
and
impairment.
\u00a0
An
\u00a0
impairment
\u00a0
loss
\u00a0
recognised
\u00a0
for
\u00a0
goodwill
\u00a0
is
\u00a0
not
\u00a0
reversed
\u00a0
under
\u00a0
any
\u00a0
circumstances.
", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForGoodwillExplanatory", "language": "en", "entity": "scheme:743700G7A9J1PHM3X223", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00" } }, "ID_35": { "value": "
Impairment
\u00a0
of
\u00a0
goodwill
The
\u00a0
carrying
\u00a0
amount
\u00a0
of
\u00a0
goodwill
\u00a0
allocated
\u00a0
to
\u00a0
cash
\u00a0
generating
\u00a0
units
\u00a0
is
\u00a0
reviewed
\u00a0
annually
\u00a0
for
\u00a0
signs
\u00a0
of
possible
\u00a0
impairment,
\u00a0
or
\u00a0
more
\u00a0
frequently
\u00a0
should
\u00a0
any
\u00a0
indication
\u00a0
of
\u00a0
impairment
\u00a0
arise.
\u00a0
If
\u00a0
any
\u00a0
such
\u00a0
indication
exists,
\u00a0
the
\u00a0
recoverable
\u00a0
amount
\u00a0
of
\u00a0
the
\u00a0
goodwill
\u00a0
is
\u00a0
estimated.
\u00a0
In
\u00a0
order
\u00a0
to
\u00a0
define
\u00a0
a
\u00a0
possible
\u00a0
impairment,
\u00a0
the
Group\u2019s
\u00a0
assets
\u00a0
are
\u00a0
divided
\u00a0
into
\u00a0
the
\u00a0
smallest
\u00a0
possible
\u00a0
cash
\u00a0
generating
\u00a0
units,
\u00a0
which
\u00a0
are
\u00a0
mainly
\u00a0
independent
of
\u00a0
other
\u00a0
units,
\u00a0
and
\u00a0
the
\u00a0
cash
\u00a0
flows
\u00a0
of
\u00a0
which
\u00a0
are
\u00a0
separately
\u00a0
identifiable
\u00a0
and
\u00a0
to
\u00a0
a
\u00a0
large
\u00a0
extent
\u00a0
independent
\u00a0
of
the
\u00a0
cash
\u00a0
flows
\u00a0
of
\u00a0
other
\u00a0
similar
\u00a0
units.
An
\u00a0
impairment
\u00a0
loss
\u00a0
is
\u00a0
recognised
\u00a0
when
\u00a0
the
\u00a0
carrying
\u00a0
amount
\u00a0
of
\u00a0
an
\u00a0
asset
\u00a0
is
\u00a0
greater
\u00a0
than
\u00a0
its
\u00a0
recoverable
amount.
\u00a0
The
\u00a0
recoverable
\u00a0
amount
\u00a0
is
\u00a0
the
\u00a0
higher
\u00a0
of
\u00a0
an
\u00a0
asset\u2019s
\u00a0
fair
\u00a0
value
\u00a0
less
\u00a0
costs
\u00a0
to
\u00a0
sell
\u00a0
and
\u00a0
its
\u00a0
value
\u00a0
in
\u00a0
use.
The
\u00a0
value
\u00a0
in
\u00a0
use
\u00a0
for
\u00a0
goodwill
\u00a0
is
\u00a0
based
\u00a0
on
\u00a0
the
\u00a0
expected
\u00a0
discounted
\u00a0
future
\u00a0
net
\u00a0
cash
\u00a0
flows
\u00a0
resulting
\u00a0
from
\u00a0
the
asset
\u00a0
or
\u00a0
cash
\u00a0
generating
\u00a0
unit.
A
\u00a0
pre-tax
\u00a0
rate,
\u00a0
which
\u00a0
reflects
\u00a0
the
\u00a0
markets\u2019
\u00a0
position
\u00a0
on
\u00a0
the
\u00a0
time
\u00a0
value
\u00a0
of
\u00a0
money
\u00a0
and
\u00a0
asset-specific
\u00a0
risks,
\u00a0
is
used
\u00a0
as
\u00a0
the
\u00a0
discount
\u00a0
rate.
An
\u00a0
impairment
\u00a0
loss
\u00a0
is
\u00a0
recognised
\u00a0
immediately
\u00a0
in
\u00a0
the
\u00a0
statement
\u00a0
of
\u00a0
income
\u00a0
as
\u00a0
depreciation,
\u00a0
amortisation
\u00a0
and
impairment.
\u00a0
An
\u00a0
impairment
\u00a0
loss
\u00a0
recognised
\u00a0
for
\u00a0
goodwill
\u00a0
is
\u00a0
not
\u00a0
reversed
\u00a0
under
\u00a0
any
\u00a0
circumstances.
\u00a0
\n
Impairment
\u00a0
of
\u00a0
assets
The
\u00a0
carrying
\u00a0
amounts
\u00a0
of
\u00a0
assets
\u00a0
are
\u00a0
reviewed
\u00a0
annually
\u00a0
for
\u00a0
signs
\u00a0
of
\u00a0
possible
\u00a0
impairment
\u00a0
or
\u00a0
more
\u00a0
frequently
should
\u00a0
any
\u00a0
indication
\u00a0
of
\u00a0
impairment
\u00a0
arise.
\u00a0
If
\u00a0
any
\u00a0
such
\u00a0
indication
\u00a0
exists,
\u00a0
the
\u00a0
recoverable
\u00a0
amount
\u00a0
of
\u00a0
the
\u00a0
asset
is
\u00a0
estimated
\u00a0
and
\u00a0
compared
\u00a0
to
\u00a0
the
\u00a0
carrying
\u00a0
amount
\u00a0
of
\u00a0
the
\u00a0
asset.
\u00a0
An
\u00a0
impairment
\u00a0
loss
\u00a0
is
\u00a0
recognised
\u00a0
when
\u00a0
the
carrying
\u00a0
amount
\u00a0
of
\u00a0
an
\u00a0
asset
\u00a0
is
\u00a0
greater
\u00a0
than
\u00a0
its
\u00a0
recoverable
\u00a0
amount.
\u00a0
The
\u00a0
recoverable
\u00a0
amount
\u00a0
is
\u00a0
the
\u00a0
higher
\u00a0
of
an
\u00a0
asset\u2019s
\u00a0
fair
\u00a0
value
\u00a0
less
\u00a0
costs
\u00a0
to
\u00a0
sell
\u00a0
and
\u00a0
its
\u00a0
value
\u00a0
in
\u00a0
use.
An
\u00a0
impairment
\u00a0
loss
\u00a0
is
\u00a0
recognised
\u00a0
immediately
as
\u00a0
depreciation,
\u00a0
amortisation
\u00a0
and
\u00a0
impairment
in
\u00a0
the
statement
\u00a0
of
\u00a0
income.
\u00a0
In
\u00a0
connection
\u00a0
with
\u00a0
the
\u00a0
recognition
\u00a0
of
\u00a0
the
\u00a0
impairment
\u00a0
loss,
\u00a0
the
\u00a0
useful
\u00a0
life
\u00a0
of
\u00a0
the
amortisable
\u00a0
asset
\u00a0
is
\u00a0
reassessed.
\u00a0
An
\u00a0
earlier
\u00a0
impairment
\u00a0
loss
\u00a0
recognised
\u00a0
for
\u00a0
an
\u00a0
asset
\u00a0
is
\u00a0
reversed
\u00a0
if
\u00a0
the
estimates
\u00a0
used
\u00a0
to
\u00a0
determine
\u00a0
the
\u00a0
recoverable
\u00a0
amount
\u00a0
change.
\u00a0
However,
\u00a0
any
\u00a0
reversal
\u00a0
of
\u00a0
impairment
\u00a0
shall
not
\u00a0
exceed
\u00a0
the
\u00a0
asset\u2019s
\u00a0
carrying
\u00a0
amount
\u00a0
if
\u00a0
no
\u00a0
impairment
\u00a0
loss
\u00a0
would
\u00a0
have
\u00a0
been
\u00a0
recognised.
\u00a0
\n
\u00a0
\n
\u00a0
\n
Impairment
\u00a0
of
\u00a0
assets
The
\u00a0
carrying
\u00a0
amounts
\u00a0
of
\u00a0
assets
\u00a0
are
\u00a0
reviewed
\u00a0
annually
\u00a0
for
\u00a0
signs
\u00a0
of
\u00a0
possible
\u00a0
impairment,
\u00a0
or
\u00a0
more
\u00a0
frequently
should
\u00a0
any
\u00a0
indication
\u00a0
of
\u00a0
impairment
\u00a0
arise.
\u00a0
If
\u00a0
any
\u00a0
such
\u00a0
indication
\u00a0
exists,
\u00a0
the
\u00a0
recoverable
\u00a0
amount
\u00a0
of
\u00a0
the
\u00a0
asset
is
\u00a0
estimated
\u00a0
and
\u00a0
compared
\u00a0
to
\u00a0
the
\u00a0
carrying
\u00a0
amount
\u00a0
of
\u00a0
the
\u00a0
asset.
\u00a0
An
\u00a0
impairment
\u00a0
loss
\u00a0
is
\u00a0
recognised
\u00a0
when
\u00a0
the
carrying
\u00a0
amount
\u00a0
of
\u00a0
an
\u00a0
asset
\u00a0
is
\u00a0
greater
\u00a0
than
\u00a0
its
\u00a0
recoverable
\u00a0
amount.
\u00a0
The
\u00a0
recoverable
\u00a0
amount
\u00a0
is
\u00a0
the
\u00a0
higher
\u00a0
of
an
\u00a0
asset\u2019s
\u00a0
fair
\u00a0
value
\u00a0
less
\u00a0
costs
\u00a0
to
\u00a0
sell
\u00a0
and
\u00a0
its
\u00a0
value
\u00a0
in
\u00a0
use.
An
\u00a0
impairment
\u00a0
loss
\u00a0
is
\u00a0
recognised
\u00a0
immediately
\u00a0
as
depreciation,
\u00a0
amortisation
\u00a0
and
\u00a0
impairment
in
\u00a0
the
statement
\u00a0
of
\u00a0
income.
\u00a0
In
\u00a0
connection
\u00a0
with
\u00a0
the
\u00a0
recognition
\u00a0
of
\u00a0
the
\u00a0
impairment
\u00a0
loss,
\u00a0
the
\u00a0
useful
\u00a0
life
\u00a0
of
\u00a0
the
depreciable
\u00a0
asset
\u00a0
is
\u00a0
reassessed.
\u00a0
An
\u00a0
earlier
\u00a0
impairment
\u00a0
loss
\u00a0
recognised
\u00a0
for
\u00a0
an
\u00a0
asset
\u00a0
is
\u00a0
reversed
\u00a0
if
\u00a0
the
estimates
\u00a0
used
\u00a0
to
\u00a0
determine
\u00a0
the
\u00a0
recoverable
\u00a0
amount
\u00a0
change.
\u00a0
However,
\u00a0
any
\u00a0
reversal
\u00a0
of
\u00a0
impairment
\u00a0
shall
not
\u00a0
exceed
\u00a0
the
\u00a0
asset\u2019s
\u00a0
carrying
\u00a0
amount
\u00a0
if
\u00a0
no
\u00a0
impairment
\u00a0
loss
\u00a0
would
\u00a0
have
\u00a0
been
\u00a0
recognised.
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
Trade
\u00a0
receivables
\u00a0
are
\u00a0
recognised
\u00a0
when
\u00a0
the
\u00a0
right
\u00a0
to
\u00a0
consideration
\u00a0
becomes
\u00a0
unconditional.
\u00a0
The
\u00a0
Group\u2019s
trade
\u00a0
receivables
\u00a0
are
\u00a0
measured
\u00a0
at
\u00a0
amortised
\u00a0
cost,
\u00a0
which
\u00a0
is
\u00a0
the
\u00a0
original
\u00a0
invoiced
\u00a0
amount
\u00a0
less
\u00a0
an
\u00a0
estimated
valuation
\u00a0
allowance
\u00a0
for
\u00a0
impairment.
\u00a0
The
\u00a0
Group
\u00a0
assesses
\u00a0
any
\u00a0
possible
\u00a0
increase
\u00a0
in
\u00a0
the
\u00a0
credit
\u00a0
risk
\u00a0
for
\u00a0
trade
receivables
\u00a0
and
\u00a0
contract
\u00a0
assets
\u00a0
measured
\u00a0
at
\u00a0
amortised
\u00a0
cost
\u00a0
at
\u00a0
the
\u00a0
end
\u00a0
of
\u00a0
each
\u00a0
reporting
\u00a0
period
\u00a0
individually.
The
\u00a0
methodology
\u00a0
applied
\u00a0
depends
\u00a0
on
\u00a0
whether
\u00a0
there
\u00a0
has
\u00a0
been
\u00a0
a
\u00a0
significant
\u00a0
increase
\u00a0
in
\u00a0
credit
\u00a0
risk.
\u00a0
If
\u00a0
there
has
\u00a0
been
\u00a0
a
\u00a0
significant
\u00a0
increase
\u00a0
in
\u00a0
credit
\u00a0
risk,
\u00a0
the
\u00a0
loss
\u00a0
allowance
\u00a0
is
\u00a0
estimated
\u00a0
at
\u00a0
an
\u00a0
amount
\u00a0
equal
\u00a0
to
\u00a0
lifetime
expected
\u00a0
credit
\u00a0
losses
\u00a0
at
\u00a0
the
\u00a0
end
\u00a0
of
\u00a0
the
\u00a0
reporting
\u00a0
period.
For
\u00a0
trade
\u00a0
receivables
\u00a0
and
\u00a0
contract
\u00a0
assets,
\u00a0
a
\u00a0
simplified
\u00a0
approach
\u00a0
is
\u00a0
used,
\u00a0
and
\u00a0
the
\u00a0
loss
\u00a0
allowance
\u00a0
is
measured
\u00a0
at
\u00a0
the
\u00a0
estimate
\u00a0
of
\u00a0
the
\u00a0
lifetime
\u00a0
expected
\u00a0
credit
\u00a0
losses.
\u00a0
The
\u00a0
Group
\u00a0
uses
\u00a0
a
\u00a0
provision
\u00a0
matrix
\u00a0
for
estimating
\u00a0
the
\u00a0
expected
\u00a0
credit
\u00a0
loss
\u00a0
where
\u00a0
receivables
\u00a0
are
\u00a0
segregated
\u00a0
depending
\u00a0
on
\u00a0
the
\u00a0
ageing
\u00a0
category
and
\u00a0
the
\u00a0
origin
\u00a0
of
\u00a0
the
\u00a0
receivable.
\u00a0
The
\u00a0
Group
\u00a0
has
\u00a0
an
\u00a0
effective
\u00a0
collection
\u00a0
process
\u00a0
in
\u00a0
place
\u00a0
which
\u00a0
decreases
\u00a0
the
possible
\u00a0
risk
\u00a0
of
\u00a0
credit
\u00a0
losses.
\u00a0
Also,
\u00a0
to
\u00a0
mitigate
\u00a0
the
\u00a0
credit
\u00a0
risk,
\u00a0
advance
\u00a0
payments
\u00a0
and
\u00a0
payment
\u00a0
guarantees
are
\u00a0
in
\u00a0
use.
\u00a0
In
\u00a0
calculating
\u00a0
the
\u00a0
expected
\u00a0
credit
\u00a0
loss
\u00a0
rates,
\u00a0
the
\u00a0
Group
\u00a0
considers
\u00a0
historical
\u00a0
loss
\u00a0
rates
\u00a0
for
\u00a0
each
category,
\u00a0
and
\u00a0
adjusts
\u00a0
for
\u00a0
forward
\u00a0
looking
\u00a0
macroeconomic
\u00a0
data.
\u00a0
Based
\u00a0
on
\u00a0
the
\u00a0
analysis,
\u00a0
for
\u00a0
trade
\u00a0
receivables
not
\u00a0
due,
\u00a0
or
\u00a0
a
\u00a0
maximum
\u00a0
of
\u00a0
359
\u00a0
days
\u00a0
overdue,
\u00a0
as
\u00a0
well
\u00a0
as
\u00a0
contract
\u00a0
assets,
\u00a0
an
\u00a0
impairment
\u00a0
of
\u00a0
0.1%-2.0%
\u00a0
is
made.
\u00a0
In
\u00a0
addition
\u00a0
to
\u00a0
that,
\u00a0
trade
\u00a0
receivables
\u00a0
more
\u00a0
than
\u00a0
360
\u00a0
days
\u00a0
old
\u00a0
are
\u00a0
assessed
\u00a0
individually
\u00a0
for
impairment.
\u00a0
Examples
\u00a0
of
\u00a0
events
\u00a0
giving
\u00a0
rise
\u00a0
to
\u00a0
impairment
\u00a0
include
\u00a0
debtor\u2019s
\u00a0
serious
\u00a0
financial
\u00a0
problems,
\u00a0
and
\u00a0
a
debtor\u2019s
\u00a0
probable
\u00a0
bankruptcy
\u00a0
or
\u00a0
other
\u00a0
financial
\u00a0
arrangement.
Trade
\u00a0
receivables
\u00a0
are
\u00a0
permanently
\u00a0
written
\u00a0
off
\u00a0
when
\u00a0
there
\u00a0
is
\u00a0
no
\u00a0
reasonable
\u00a0
expectation
\u00a0
of
\u00a0
recovery.
", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForImpairmentOfAssetsExplanatory", "language": "en", "entity": "scheme:743700G7A9J1PHM3X223", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00" } }, "ID_33": { "value": "
\u00a0
\n
Goodwill
\u00a0
2022
MEUR
2022
W\u00e4rtsil\u00e4
\u00a0
Group
W\u00e4rtsil\u00e4
\u00a0
on
\u00a0
1
\u00a0
January
1
\u00a0
374
Changes
\u00a0
in
\u00a0
exchange
\u00a0
rates
-22
Acquisitions
7
Impairment
-47
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
Reclassification
\u00a0
to
\u00a0
assets
\u00a0
held
\u00a0
for
\u00a0
sale
\u00a0
and
\u00a0
impairment
-24
W\u00e4rtsil\u00e4
\u00a0
on
\u00a0
31
\u00a0
December
1
\u00a0
288
In
\u00a0
June
\u00a0
2022,
\u00a0
W\u00e4rtsil\u00e4
\u00a0
acquired
\u00a0
100%
\u00a0
of
\u00a0
Altyn
\u00a0
Consulting
\u00a0
Inc.
\u00a0
(PortLink)
\u00a0
from
\u00a0
which
\u00a0
goodwill
\u00a0
of
\u00a0
EUR
\u00a0
7
\u00a0
million
was
\u00a0
recognised.
\u00a0
Goodwill
\u00a0
from
\u00a0
the
\u00a0
acquisition
\u00a0
was
\u00a0
allocated
\u00a0
to
\u00a0
cash
\u00a0
generating
\u00a0
unit
\u00a0
Voyage.
Impairment
\u00a0
of
\u00a0
goodwill
\u00a0
relates
\u00a0
to
\u00a0
additional
\u00a0
impairment
\u00a0
testing
\u00a0
of
\u00a0
CGU
\u00a0
Voyage
\u00a0
performed
\u00a0
in
\u00a0
the
\u00a0
first
\u00a0
quarter
\u00a0
of
2022.
\u00a0
Additional
\u00a0
impairment
\u00a0
testing
\u00a0
was
\u00a0
performed
\u00a0
due
\u00a0
to
\u00a0
the
\u00a0
uncertainties
\u00a0
in
\u00a0
the
\u00a0
operating
\u00a0
environment
resulting
\u00a0
from
\u00a0
Russia-Ukraine
\u00a0
war.
Reclassification
\u00a0
to
\u00a0
assets
\u00a0
held
\u00a0
for
\u00a0
sale
\u00a0
and
\u00a0
impairment
\u00a0
relate
\u00a0
to
\u00a0
business
\u00a0
unit
\u00a0
American
\u00a0
Hydro.
\u00a0
American
Hydro
\u00a0
belongs
\u00a0
to
\u00a0
Portfolio
\u00a0
Business.
\u00a0
The
\u00a0
total
\u00a0
impact
\u00a0
of
\u00a0
the
\u00a0
reclassification
\u00a0
on
\u00a0
the
\u00a0
result
\u00a0
for
\u00a0
the
\u00a0
financial
\u00a0
period
is
\u00a0
presented
\u00a0
in
\u00a0
Note
\u00a0
6.4.
\u00a0
Assets
\u00a0
held
\u00a0
for
\u00a0
sale.
MEUR
Marine
Power
Marine
Systems
Voyage
Energy
Portfolio
Business
Total
W\u00e4rtsil\u00e4
\u00a0
on
\u00a0
31
\u00a0
December
\u00a0
2022
544
168
59
511
5
1
\u00a0
288
Additional
\u00a0
impairment
\u00a0
testing
\u00a0
of
\u00a0
cash
\u00a0
generating
\u00a0
unit
\u00a0
Voyage
Due
\u00a0
to
\u00a0
the
\u00a0
uncertainties
\u00a0
in
\u00a0
the
\u00a0
operating
\u00a0
environment
\u00a0
resulting
\u00a0
from
\u00a0
Russia-Ukraine
\u00a0
war,
\u00a0
W\u00e4rtsil\u00e4
\u00a0
performed
an
\u00a0
additional
\u00a0
impairment
\u00a0
testing
\u00a0
of
\u00a0
goodwill
\u00a0
during
\u00a0
the
\u00a0
first
\u00a0
quarter
\u00a0
of
\u00a0
2022
\u00a0
for
\u00a0
CGU
\u00a0
Voyage.
\u00a0
The
\u00a0
recoverable
amount
\u00a0
of
\u00a0
the
\u00a0
CGU
\u00a0
was
\u00a0
based
\u00a0
on
\u00a0
four-year
\u00a0
cash
\u00a0
flow
\u00a0
projections.
\u00a0
Cash
\u00a0
flows
\u00a0
beyond
\u00a0
the
\u00a0
four-year
\u00a0
period
were
\u00a0
calculated
\u00a0
using
\u00a0
a
\u00a0
terminal
\u00a0
value
\u00a0
method.
\u00a0
Due
\u00a0
to
\u00a0
exceptionally
\u00a0
volatile
\u00a0
circumstances,
\u00a0
a
\u00a0
weighted
average
\u00a0
of
\u00a0
different
\u00a0
scenarios
\u00a0
was
\u00a0
applied.
\u00a0
As
\u00a0
a
\u00a0
result
\u00a0
of
\u00a0
the
\u00a0
additional
\u00a0
impairment
\u00a0
testing,
\u00a0
an
\u00a0
impairment
\u00a0
loss
of
\u00a0
EUR
\u00a0
47
\u00a0
million
\u00a0
was
\u00a0
recognised
\u00a0
in
\u00a0
the
\u00a0
statement
\u00a0
of
\u00a0
income
\u00a0
related
\u00a0
to
\u00a0
goodwill.
Annual
\u00a0
impairment
\u00a0
testing
\u00a0
of
\u00a0
goodwill
The
\u00a0
Group
\u00a0
performed
\u00a0
its
\u00a0
annual
\u00a0
impairment
\u00a0
testing
\u00a0
of
\u00a0
goodwill
\u00a0
during
\u00a0
the
\u00a0
third
\u00a0
quarter
\u00a0
of
\u00a0
the
\u00a0
year.
\u00a0
W\u00e4rtsil\u00e4
compared
\u00a0
the
\u00a0
recoverable
\u00a0
amount
\u00a0
of
\u00a0
each
\u00a0
business
\u00a0
against
\u00a0
its
\u00a0
carrying
\u00a0
amount
\u00a0
to
\u00a0
define
\u00a0
whether
\u00a0
there
\u00a0
were
any
\u00a0
indications
\u00a0
of
\u00a0
goodwill
\u00a0
impairment.
For
\u00a0
Marine
\u00a0
Power,
\u00a0
Marine
\u00a0
Systems,
\u00a0
Voyage,
\u00a0
and
\u00a0
Energy,
\u00a0
the
\u00a0
recoverable
\u00a0
amounts
\u00a0
were
\u00a0
defined
\u00a0
based
\u00a0
on
\u00a0
the
discounted
\u00a0
cash
\u00a0
flow
\u00a0
method,
\u00a0
derived
\u00a0
from
\u00a0
the
\u00a0
order
\u00a0
book
\u00a0
and
\u00a0
five-year
\u00a0
cash
\u00a0
flow
\u00a0
projections
\u00a0
from
\u00a0
strategic
plans.
\u00a0
The
\u00a0
estimated
\u00a0
cash
\u00a0
flows
\u00a0
of
\u00a0
the
\u00a0
CGUs
\u00a0
were
\u00a0
based
\u00a0
on
\u00a0
the
\u00a0
utilisation
\u00a0
of
\u00a0
existing
\u00a0
property,
\u00a0
plant,
\u00a0
and
equipment
\u00a0
in
\u00a0
their
\u00a0
current
\u00a0
condition
\u00a0
with
\u00a0
normal
\u00a0
maintenance
\u00a0
capital
\u00a0
expenditure,
\u00a0
excluding
\u00a0
any
\u00a0
potential
future
\u00a0
acquisitions.
\u00a0
Cash
\u00a0
flows
\u00a0
beyond
\u00a0
the
\u00a0
five-year
\u00a0
period
\u00a0
were
\u00a0
calculated
\u00a0
using
\u00a0
the
\u00a0
terminal
\u00a0
value
\u00a0
method.
Also
\u00a0
for
\u00a0
business
\u00a0
units
\u00a0
under
\u00a0
Portfolio
\u00a0
Business,
\u00a0
the
\u00a0
recoverable
\u00a0
amounts
\u00a0
were
\u00a0
defined
\u00a0
based
\u00a0
on
\u00a0
the
discounted
\u00a0
cash
\u00a0
flow
\u00a0
method.
\u00a0
Cash
\u00a0
flows
\u00a0
beyond
\u00a0
the
\u00a0
five-year
\u00a0
period
\u00a0
were
\u00a0
calculated
\u00a0
using
\u00a0
the
\u00a0
terminal
\u00a0
value
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
method.
\u00a0
The
\u00a0
terminal
\u00a0
growth
\u00a0
rate
\u00a0
used
\u00a0
in
\u00a0
projections
\u00a0
is
\u00a0
based
\u00a0
on
\u00a0
management\u2019s
\u00a0
assessment
\u00a0
on
\u00a0
conservative
long-term
\u00a0
growth.
\u00a0
The
\u00a0
terminal
\u00a0
growth
\u00a0
rate
\u00a0
used
\u00a0
in
\u00a0
the
\u00a0
calculations
\u00a0
were:
Terminal
\u00a0
growth
\u00a0
rate,
\u00a0
%
2022
Marine
\u00a0
Power
1,5
Marine
\u00a0
Systems
1,5
Voyage
2,5
Energy
2,0
Portfolio
\u00a0
Business
1,0
The
\u00a0
key
\u00a0
driver
\u00a0
for
\u00a0
the
\u00a0
valuation
\u00a0
is
\u00a0
growth
\u00a0
in
\u00a0
the
\u00a0
global
\u00a0
economy,
\u00a0
and
\u00a0
in
\u00a0
particular,
\u00a0
the
\u00a0
development
\u00a0
of
\u00a0
the
global
\u00a0
power
\u00a0
market,
\u00a0
the
\u00a0
global
\u00a0
shipbuilding
\u00a0
industry,
\u00a0
and
\u00a0
the
\u00a0
demand
\u00a0
for
\u00a0
any
\u00a0
related
\u00a0
services.
\u00a0
The
\u00a0
projected
development
\u00a0
of
\u00a0
total
\u00a0
costs
\u00a0
in
\u00a0
the
\u00a0
market
\u00a0
affects
\u00a0
the
\u00a0
profitability,
\u00a0
whereas
\u00a0
no
\u00a0
single
\u00a0
cost
\u00a0
item
\u00a0
is
\u00a0
considered
\u00a0
to
have
\u00a0
a
\u00a0
material
\u00a0
impact.
\u00a0
The
\u00a0
valuation
\u00a0
driver
\u00a0
for
\u00a0
new
\u00a0
equipment
\u00a0
sales
\u00a0
is
\u00a0
growth
\u00a0
in
\u00a0
the
\u00a0
global
\u00a0
economy,
whereas
\u00a0
for
\u00a0
after
\u00a0
sales
\u00a0
the
\u00a0
drivers
\u00a0
also
\u00a0
include
\u00a0
the
\u00a0
demand
\u00a0
for
\u00a0
related
\u00a0
services
\u00a0
and
\u00a0
the
\u00a0
projected
\u00a0
development
in
\u00a0
labour
\u00a0
costs.
The
\u00a0
applied
\u00a0
discount
\u00a0
rates
\u00a0
are
\u00a0
the
\u00a0
weighted
\u00a0
average
\u00a0
pre-tax
\u00a0
cost
\u00a0
of
\u00a0
capital
\u00a0
(WACC)
\u00a0
for
\u00a0
each
\u00a0
CGU
\u00a0
as
\u00a0
defined
by
\u00a0
W\u00e4rtsil\u00e4.
\u00a0
The
\u00a0
components
\u00a0
of
\u00a0
the
\u00a0
WACC
\u00a0
rates
\u00a0
are
\u00a0
risk-free
\u00a0
rate,
\u00a0
market
\u00a0
risk
\u00a0
premium,
\u00a0
industry
\u00a0
specific
\u00a0
beta,
cost
\u00a0
of
\u00a0
debt
\u00a0
and
\u00a0
debt
\u00a0
equity
\u00a0
ratio.
\u00a0
W\u00e4rtsil\u00e4
\u00a0
has
\u00a0
used
\u00a0
the
\u00a0
following
\u00a0
WACC
\u00a0
rates
\u00a0
for
\u00a0
each
\u00a0
CGU:
WACC
\u00a0
rate,
\u00a0
%
2022
Marine
\u00a0
Power
10,0
Marine
\u00a0
Systems
10,1
Voyage
10,2
Energy
10,6
Portfolio
\u00a0
Business
11,1
As
\u00a0
a
\u00a0
result
\u00a0
of
\u00a0
the
\u00a0
impairment
\u00a0
test,
\u00a0
no
\u00a0
impairment
\u00a0
loss
\u00a0
for
\u00a0
the
\u00a0
CGUs
\u00a0
was
\u00a0
recognised
\u00a0
for
\u00a0
the
\u00a0
financial
\u00a0
period
ended
\u00a0
on
\u00a0
31
\u00a0
December
\u00a0
2022.
\u00a0
The
\u00a0
recoverable
\u00a0
amounts
\u00a0
of
\u00a0
Marine
\u00a0
Power,
\u00a0
Marine
\u00a0
Systems,
\u00a0
and
\u00a0
Energy
\u00a0
CGUs
exceeded
\u00a0
their
\u00a0
respective
\u00a0
carrying
\u00a0
amounts
\u00a0
substantially.
\u00a0
Also,
\u00a0
the
\u00a0
recoverable
\u00a0
amount
\u00a0
of
\u00a0
Portfolio
\u00a0
Business
exceeded
\u00a0
its
\u00a0
respective
\u00a0
carrying
\u00a0
amount.
The
\u00a0
defined
\u00a0
recoverable
\u00a0
amount
\u00a0
of
\u00a0
CGU
\u00a0
Voyage
\u00a0
also
\u00a0
exceeded
\u00a0
the
\u00a0
carrying
\u00a0
amount
\u00a0
of
\u00a0
the
\u00a0
unit
\u00a0
in
\u00a0
the
\u00a0
annual
impairment
\u00a0
test.
\u00a0
There
\u00a0
was
\u00a0
no
\u00a0
additional
\u00a0
impairment
\u00a0
recognised
\u00a0
after
\u00a0
the
\u00a0
additional
\u00a0
impairment
\u00a0
testing
conducted
\u00a0
during
\u00a0
the
\u00a0
first
\u00a0
quarter
\u00a0
of
\u00a0
2022.
The
\u00a0
key
\u00a0
assumptions
\u00a0
for
\u00a0
CGU
\u00a0
Voyage
\u00a0
relate
\u00a0
to
\u00a0
forecasted
\u00a0
profitability
\u00a0
of
\u00a0
the
\u00a0
unit
\u00a0
and
\u00a0
to
\u00a0
terminal
\u00a0
growth
\u00a0
rate
\u00a0
of
the
\u00a0
unit.
\u00a0
Voyage
\u00a0
is
\u00a0
estimated
\u00a0
to
\u00a0
break
\u00a0
even
\u00a0
within
\u00a0
the
\u00a0
next
\u00a0
few
\u00a0
years
\u00a0
on
\u00a0
the
\u00a0
EBITDA
\u00a0
level.
\u00a0
Key
\u00a0
assumptions
used
\u00a0
in
\u00a0
the
\u00a0
testing
\u00a0
for
\u00a0
terminal
\u00a0
values
\u00a0
are
\u00a0
the
\u00a0
estimated
\u00a0
terminal
\u00a0
growth
\u00a0
rate
\u00a0
of
\u00a0
2.5%
\u00a0
and
\u00a0
that
\u00a0
the
\u00a0
profitability,
\u00a0
\n
\u00a0
\n
i.e.
\u00a0
comparable
\u00a0
operating
\u00a0
result,
\u00a0
as
\u00a0
a
\u00a0
percentage
\u00a0
of
\u00a0
net
\u00a0
sales,
\u00a0
would
\u00a0
amount
\u00a0
to
\u00a0
10%.
\u00a0
In
\u00a0
the
\u00a0
testing
\u00a0
performed,
the
\u00a0
recoverable
\u00a0
amount
\u00a0
of
\u00a0
Voyage
\u00a0
exceeded
\u00a0
its
\u00a0
carrying
\u00a0
amount
\u00a0
by
\u00a0
EUR
\u00a0
163
\u00a0
million.
\u00a0
Any
\u00a0
future
\u00a0
negative
changes
\u00a0
in
\u00a0
these
\u00a0
assumptions
\u00a0
would
\u00a0
have
\u00a0
an
\u00a0
adverse
\u00a0
impact
\u00a0
on
\u00a0
the
\u00a0
valuation
\u00a0
of
\u00a0
the
\u00a0
business.
According
\u00a0
to
\u00a0
the
\u00a0
measuring
\u00a0
requirements
\u00a0
related
\u00a0
to
\u00a0
assets
\u00a0
held
\u00a0
for
\u00a0
sale,
\u00a0
W\u00e4rtsil\u00e4
\u00a0
has
\u00a0
written
\u00a0
down
\u00a0
certain
assets
\u00a0
after
\u00a0
the
\u00a0
annual
\u00a0
impairment
\u00a0
test.
\u00a0
Write
\u00a0
-downs
\u00a0
related
\u00a0
to
\u00a0
goodwill
\u00a0
were
\u00a0
recognised
\u00a0
due
\u00a0
to
\u00a0
the
classification
\u00a0
of
\u00a0
business
\u00a0
unit
\u00a0
American
\u00a0
Hydro
\u00a0
as
\u00a0
assets
\u00a0
held
\u00a0
for
\u00a0
sale.
\u00a0
There
\u00a0
are
\u00a0
no
\u00a0
other
\u00a0
indications
\u00a0
of
impairment
\u00a0
of
\u00a0
goodwill
\u00a0
after
\u00a0
the
\u00a0
annual
\u00a0
impairment
\u00a0
testing.
Sensitivity
\u00a0
analysis
Management
\u00a0
has
\u00a0
assessed
\u00a0
that
\u00a0
no
\u00a0
reasonable
\u00a0
possible
\u00a0
changes
\u00a0
in
\u00a0
the
\u00a0
key
\u00a0
assumptions
\u00a0
would
\u00a0
cause
\u00a0
the
carrying
\u00a0
amount
\u00a0
of
\u00a0
any
\u00a0
CGU
\u00a0
to
\u00a0
exceed
\u00a0
its
\u00a0
recoverable
\u00a0
amount.
\u00a0
A
\u00a0
sensitivity
\u00a0
analysis
\u00a0
has
\u00a0
been
\u00a0
carried
\u00a0
out
\u00a0
for
the
\u00a0
valuation
\u00a0
of
\u00a0
the
\u00a0
recoverable
\u00a0
amount
\u00a0
for
\u00a0
each
\u00a0
CGU
\u00a0
by
\u00a0
changing
\u00a0
the
\u00a0
assumptions
\u00a0
used
\u00a0
in
\u00a0
the
\u00a0
calculation.
\u00a0
A
change
\u00a0
in
\u00a0
an
\u00a0
assumption
\u00a0
that
\u00a0
would
\u00a0
cause
\u00a0
the
\u00a0
recoverable
\u00a0
amount
\u00a0
to
\u00a0
equal
\u00a0
the
\u00a0
carrying
\u00a0
amount
\u00a0
is
\u00a0
presented
in
\u00a0
the
\u00a0
following
\u00a0
table
\u00a0
separately
\u00a0
for
\u00a0
each
\u00a0
CGU.
-
Change
Marine
\u00a0
Power
Pre-tax
\u00a0
discount
\u00a0
rate
increase
\u00a0
more
\u00a0
than
\u00a0
21
\u00a0
percentage
\u00a0
points
Terminal
\u00a0
growth
\u00a0
rate
decrease
\u00a0
more
\u00a0
than
\u00a0
41
\u00a0
percentage
\u00a0
points
Profitability
decrease
\u00a0
more
\u00a0
than
\u00a0
68
\u00a0
percentage
Marine
\u00a0
Systems
Pre-tax
\u00a0
discount
\u00a0
rate
increase
\u00a0
more
\u00a0
than
\u00a0
18
\u00a0
percentage
\u00a0
points
Terminal
\u00a0
growth
\u00a0
rate
decrease
\u00a0
more
\u00a0
than
\u00a0
35
\u00a0
percentage
\u00a0
points
Profitability
decrease
\u00a0
more
\u00a0
than
\u00a0
65
\u00a0
percentage
Voyage
Pre-tax
\u00a0
discount
\u00a0
rate
increase
\u00a0
more
\u00a0
than
\u00a0
5
\u00a0
percentage
\u00a0
points
Terminal
\u00a0
growth
\u00a0
rate
decrease
\u00a0
more
\u00a0
than
\u00a0
5
\u00a0
percentage
\u00a0
points
Profitability
decrease
\u00a0
more
\u00a0
than
\u00a0
43
\u00a0
percentage
Energy
Pre-tax
\u00a0
discount
\u00a0
rate
increase
\u00a0
more
\u00a0
than
\u00a0
29
\u00a0
percentage
\u00a0
points
Terminal
\u00a0
growth
\u00a0
rate
decrease
\u00a0
over
\u00a0
100
\u00a0
percentage
\u00a0
points
Profitability
decrease
\u00a0
more
\u00a0
than
\u00a0
75
\u00a0
percentage
Portfolio
\u00a0
Business
Pre-tax
\u00a0
discount
\u00a0
rate
increase
\u00a0
more
\u00a0
than
\u00a0
2.0
\u00a0
percentage
\u00a0
points
Terminal
\u00a0
growth
\u00a0
rate
decrease
\u00a0
more
\u00a0
than
\u00a0
1.9
\u00a0
percentage
\u00a0
points
Profitability
decrease
\u00a0
more
\u00a0
than
\u00a0
14.2
\u00a0
percentage
In
\u00a0
management\u2019s
\u00a0
opinion,
\u00a0
the
\u00a0
changes
\u00a0
in
\u00a0
the
\u00a0
basic
\u00a0
assumptions
\u00a0
shall
\u00a0
not
\u00a0
be
\u00a0
seen
\u00a0
as
\u00a0
an
\u00a0
indication
\u00a0
that
\u00a0
these
factors
\u00a0
are
\u00a0
likely
\u00a0
to
\u00a0
materialise.
\u00a0
The
\u00a0
sensitivity
\u00a0
analyses
\u00a0
are
\u00a0
hypothetical
\u00a0
and
\u00a0
should
\u00a0
therefore
\u00a0
be
\u00a0
treated
\u00a0
with
caution.
", "dimensions": { "concept": "ifrs-full:DisclosureOfGoodwillExplanatory", "language": "en", "entity": "scheme:743700G7A9J1PHM3X223", "period": "2022-01-01T00:00:00/2023-01-01T00:00:00" } }, "ID_36": { "value": "
\u00a0
\n
3.2.
\u00a0
OTHER
\u00a0
INTANGIBLE
\u00a0
ASSETS
Accounting
\u00a0
principles
Research
\u00a0
and
\u00a0
development
\u00a0
costs
Research
\u00a0
costs
\u00a0
are
\u00a0
expensed
\u00a0
in
\u00a0
the
\u00a0
reporting
\u00a0
period
\u00a0
during
\u00a0
which
\u00a0
they
\u00a0
occur.
\u00a0
Development
\u00a0
costs
\u00a0
are
capitalised
\u00a0
when
\u00a0
it
\u00a0
is
\u00a0
probable
\u00a0
that
\u00a0
the
\u00a0
development
\u00a0
project
\u00a0
will
\u00a0
generate
\u00a0
future
\u00a0
economic
\u00a0
benefits
\u00a0
for
\u00a0
the
Group
\u00a0
and
\u00a0
when
\u00a0
the
\u00a0
related
\u00a0
criteria,
\u00a0
including
\u00a0
commercial
\u00a0
and
\u00a0
technological
\u00a0
feasibility,
\u00a0
have
\u00a0
been
\u00a0
met.
These
\u00a0
projects
\u00a0
involve
\u00a0
the
\u00a0
development
\u00a0
of
\u00a0
new
\u00a0
or
\u00a0
significantly
\u00a0
improved
\u00a0
products
\u00a0
or
\u00a0
production
\u00a0
processes.
Earlier
\u00a0
expensed
\u00a0
development
\u00a0
costs
\u00a0
are
\u00a0
not
\u00a0
capitalised.
Capitalised
\u00a0
development
\u00a0
costs
\u00a0
are
\u00a0
measured
\u00a0
at
\u00a0
cost
\u00a0
less
\u00a0
accumulated
\u00a0
amortisations
\u00a0
and
\u00a0
impairment.
Capitalised
\u00a0
development
\u00a0
costs
\u00a0
are
\u00a0
amortised
\u00a0
and
\u00a0
the
\u00a0
cost
\u00a0
of
\u00a0
buildings,
\u00a0
machinery,
\u00a0
and
\u00a0
facilities
\u00a0
for
development
\u00a0
depreciated
\u00a0
on
\u00a0
a
\u00a0
straight-line
\u00a0
basis
\u00a0
over
\u00a0
their
\u00a0
expected
\u00a0
useful
\u00a0
lives
\u00a0
of
\u00a0
5-10
\u00a0
years.
Amortisations
\u00a0
are
\u00a0
started
\u00a0
when
\u00a0
the
\u00a0
asset
\u00a0
is
\u00a0
completed
\u00a0
and
\u00a0
can
\u00a0
be
\u00a0
taken
\u00a0
into
\u00a0
use.
\u00a0
Before
\u00a0
that,
\u00a0
the
\u00a0
asset
\u00a0
is
tested
\u00a0
annually
\u00a0
for
\u00a0
impairment.
\u00a0
Grants
\u00a0
received
\u00a0
for
\u00a0
research
\u00a0
and
\u00a0
development
\u00a0
are
\u00a0
reported
\u00a0
as
\u00a0
other
operating
\u00a0
income.
\u00a0
Grants
\u00a0
related
\u00a0
to
\u00a0
capitalised
\u00a0
development
\u00a0
costs
\u00a0
are
\u00a0
netted
\u00a0
with
\u00a0
the
\u00a0
costs
\u00a0
incurred
\u00a0
before
the
\u00a0
capitalisation.
Other
\u00a0
intangible
\u00a0
assets
Other
\u00a0
intangible
\u00a0
assets
\u00a0
are
\u00a0
recognised
\u00a0
at
\u00a0
cost
\u00a0
if
\u00a0
the
\u00a0
cost
\u00a0
is
\u00a0
reliably
\u00a0
measurable
\u00a0
and
\u00a0
the
\u00a0
future
\u00a0
economic
benefits
\u00a0
for
\u00a0
the
\u00a0
Group
\u00a0
are
\u00a0
probable.
\u00a0
W\u00e4rtsil\u00e4\u2019s
\u00a0
other
\u00a0
intangible
\u00a0
assets
\u00a0
include
\u00a0
patents,
\u00a0
licenses,
\u00a0
software,
customer
\u00a0
relations
\u00a0
and
\u00a0
other
\u00a0
intellectual
\u00a0
property
\u00a0
rights
\u00a0
that
\u00a0
can
\u00a0
be
\u00a0
transferred
\u00a0
to
\u00a0
a
\u00a0
third
\u00a0
party.
\u00a0
These
\u00a0
are
measured
\u00a0
at
\u00a0
cost,
\u00a0
except
\u00a0
for
\u00a0
intangible
\u00a0
assets
\u00a0
identified
\u00a0
in
\u00a0
connection
\u00a0
with
\u00a0
acquisitions,
\u00a0
which
\u00a0
are
measured
\u00a0
at
\u00a0
the
\u00a0
fair
\u00a0
value
\u00a0
at
\u00a0
the
\u00a0
acquisition
\u00a0
date.
\u00a0
The
\u00a0
cost
\u00a0
of
\u00a0
intangible
\u00a0
assets
\u00a0
comprises
\u00a0
the
\u00a0
purchase
price
\u00a0
and
\u00a0
all
\u00a0
costs
\u00a0
that
\u00a0
can
\u00a0
be
\u00a0
directly
\u00a0
attributed
\u00a0
to
\u00a0
preparing
\u00a0
an
\u00a0
asset
\u00a0
for
\u00a0
its
\u00a0
intended
\u00a0
use.
Other
\u00a0
intangible
\u00a0
assets
\u00a0
are
\u00a0
amortised
\u00a0
on
\u00a0
a
\u00a0
straight-line
\u00a0
basis
\u00a0
over
\u00a0
their
\u00a0
estimated
\u00a0
useful
\u00a0
lives.
\u00a0
Intangible
assets,
\u00a0
for
\u00a0
which
\u00a0
the
\u00a0
time
\u00a0
limit
\u00a0
for
\u00a0
the
\u00a0
right
\u00a0
of
\u00a0
use
\u00a0
is
\u00a0
agreed,
\u00a0
are
\u00a0
amortised
\u00a0
over
\u00a0
the
\u00a0
life
\u00a0
of
\u00a0
the
\u00a0
contract.
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
Intangible
\u00a0
assets
\u00a0
identified
\u00a0
in
\u00a0
connection
\u00a0
with
\u00a0
acquisitions
\u00a0
are
\u00a0
amortised
\u00a0
over
\u00a0
their
\u00a0
delivery
\u00a0
times
\u00a0
or
estimated
\u00a0
useful
\u00a0
lives.
The
\u00a0
general
\u00a0
guidelines
\u00a0
for
\u00a0
scheduled
\u00a0
amortisation
\u00a0
are:
\u2022
\u00a0
Software
\u00a0
3-7
\u00a0
years
\u2022
\u00a0
Development
\u00a0
expenses
\u00a0
5-10
\u00a0
years
\u2022
\u00a0
Other
\u00a0
intangible
\u00a0
assets
\u00a0
5-20
\u00a0
years
The
\u00a0
amortisation
\u00a0
of
\u00a0
intangible
\u00a0
assets
\u00a0
is
\u00a0
discontinued
\u00a0
when
\u00a0
an
\u00a0
item
\u00a0
is
\u00a0
classified
\u00a0
as
\u00a0
held
\u00a0
for
\u00a0
sale.
A
\u00a0
gain
\u00a0
or
\u00a0
loss
\u00a0
arising
\u00a0
from
\u00a0
the
\u00a0
sale
\u00a0
of
\u00a0
intangible
\u00a0
assets
\u00a0
is
\u00a0
recognised
\u00a0
as
\u00a0
other
\u00a0
operating
\u00a0
income
\u00a0
or
\u00a0
other
operating
\u00a0
expenses
\u00a0
in
\u00a0
the
\u00a0
statement
\u00a0
of
\u00a0
income.
\u00a0
\n
Impairment
\u00a0
of
\u00a0
assets
The
\u00a0
carrying
\u00a0
amounts
\u00a0
of
\u00a0
assets
\u00a0
are
\u00a0
reviewed
\u00a0
annually
\u00a0
for
\u00a0
signs
\u00a0
of
\u00a0
possible
\u00a0
impairment
\u00a0
or
\u00a0
more
\u00a0
frequently
should
\u00a0
any
\u00a0
indication
\u00a0
of
\u00a0
impairment
\u00a0
arise.
\u00a0
If
\u00a0
any
\u00a0
such
\u00a0
indication
\u00a0
exists,
\u00a0
the
\u00a0
recoverable
\u00a0
amount
\u00a0
of
\u00a0
the
\u00a0
asset
is
\u00a0
estimated
\u00a0
and
\u00a0
compared
\u00a0
to
\u00a0
the
\u00a0
carrying
\u00a0
amount
\u00a0
of
\u00a0
the
\u00a0
asset.
\u00a0
An
\u00a0
impairment
\u00a0
loss
\u00a0
is
\u00a0
recognised
\u00a0
when
\u00a0
the
carrying
\u00a0
amount
\u00a0
of
\u00a0
an
\u00a0
asset
\u00a0
is
\u00a0
greater
\u00a0
than
\u00a0
its
\u00a0
recoverable
\u00a0
amount.
\u00a0
The
\u00a0
recoverable
\u00a0
amount
\u00a0
is
\u00a0
the
\u00a0
higher
\u00a0
of
an
\u00a0
asset\u2019s
\u00a0
fair
\u00a0
value
\u00a0
less
\u00a0
costs
\u00a0
to
\u00a0
sell
\u00a0
and
\u00a0
its
\u00a0
value
\u00a0
in
\u00a0
use.
An
\u00a0
impairment
\u00a0
loss
\u00a0
is
\u00a0
recognised
\u00a0
immediately
as
\u00a0
depreciation,
\u00a0
amortisation
\u00a0
and
\u00a0
impairment
in
\u00a0
the
statement
\u00a0
of
\u00a0
income.
\u00a0
In
\u00a0
connection
\u00a0
with
\u00a0
the
\u00a0
recognition
\u00a0
of
\u00a0
the
\u00a0
impairment
\u00a0
loss,
\u00a0
the
\u00a0
useful
\u00a0
life
\u00a0
of
\u00a0
the
amortisable
\u00a0
asset
\u00a0
is
\u00a0
reassessed.
\u00a0
An
\u00a0
earlier
\u00a0
impairment
\u00a0
loss
\u00a0
recognised
\u00a0
for
\u00a0
an
\u00a0
asset
\u00a0
is
\u00a0
reversed
\u00a0
if
\u00a0
the
estimates
\u00a0
used
\u00a0
to
\u00a0
determine
\u00a0
the
\u00a0
recoverable
\u00a0
amount
\u00a0
change.
\u00a0
However,
\u00a0
any
\u00a0
reversal
\u00a0
of
\u00a0
impairment
\u00a0
shall
not
\u00a0
exceed
\u00a0
the
\u00a0
asset\u2019s
\u00a0
carrying
\u00a0
amount
\u00a0
if
\u00a0
no
\u00a0
impairment
\u00a0
loss
\u00a0
would
\u00a0
have
\u00a0
been
\u00a0
recognised.
Accounting
\u00a0
estimates
\u00a0
and
\u00a0
judgements
Assessing
\u00a0
the
\u00a0
probability
\u00a0
of
\u00a0
expected
\u00a0
future
\u00a0
economic
\u00a0
benefits
\u00a0
and
\u00a0
the
\u00a0
useful
\u00a0
lives
\u00a0
of
\u00a0
intangible
\u00a0
assets
require
\u00a0
management
\u00a0
judgement.
\u00a0
The
\u00a0
estimated
\u00a0
useful
\u00a0
lives
\u00a0
and
\u00a0
the
\u00a0
residual
\u00a0
values
\u00a0
are
\u00a0
reviewed
\u00a0
at
\u00a0
least
\u00a0
at
the
\u00a0
end
\u00a0
of
\u00a0
each
\u00a0
reporting
\u00a0
period,
\u00a0
and
\u00a0
if
\u00a0
they
\u00a0
differ
\u00a0
significantly
\u00a0
from
\u00a0
previous
\u00a0
estimates,
\u00a0
the
\u00a0
amortisation
periods
\u00a0
are
\u00a0
adjusted
\u00a0
accordingly.
\u00a0
Also,
\u00a0
assessing
\u00a0
any
\u00a0
indication
\u00a0
of
\u00a0
impairment
\u00a0
requires
\u00a0
management
judgement.
2023
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
MEUR
Develop-
ment
expenses
Construc-
tion
\u00a0
in
progress
\u00a0
and
\u00a0
advances
paid
Other
\u00a0
intangible
\u00a0
assets
Total
\u00a0
Cost
\u00a0
on
\u00a0
1
\u00a0
January
\u00a0
2023
245
176
829
1
\u00a0
249
Changes
\u00a0
in
\u00a0
exchange
\u00a0
rates
-1
0
-4
-6
Additions
17
74
4
95
Decreases
\u00a0
and
\u00a0
other
\u00a0
changes
-15
1
-39
-54
Reclassifications
36
-41
7
2
Cost
\u00a0
on
\u00a0
31
\u00a0
December
\u00a0
2023
282
209
796
1
\u00a0
287
Accumulated
\u00a0
amortisation
\u00a0
and
\u00a0
impairment
\u00a0
on
\u00a0
1
\u00a0
January
\u00a0
2023
-153
-1
-704
-857
Changes
\u00a0
in
\u00a0
exchange
\u00a0
rates
0
0
3
3
Accumulated
\u00a0
amortisation
\u00a0
on
\u00a0
decreases
\u00a0
and
\u00a0
other
\u00a0
changes
14
0
38
51
Amortisation
\u00a0
during
\u00a0
the
\u00a0
financial
\u00a0
period
-18
0
-28
-46
Impairment
-18
-14
-4
-36
Accumulated
\u00a0
amortisation
\u00a0
and
\u00a0
impairment
\u00a0
on
\u00a0
31
December
\u00a0
2023
-175
-15
-695
-885
Carrying
\u00a0
amount
\u00a0
on
\u00a0
31
\u00a0
December
\u00a0
2023
107
194
101
402
\u00a0
\n
\u00a0
\n
Development
\u00a0
costs
\u00a0
for
\u00a0
internally
\u00a0
generated
\u00a0
assets
\u00a0
capitalised
\u00a0
during
\u00a0
the
\u00a0
financial
\u00a0
period
\u00a0
amounted
\u00a0
to
\u00a0
EUR
\u00a0
70
million
\u00a0
(67).
\u00a0
The
\u00a0
carrying
\u00a0
amount
\u00a0
was
\u00a0
EUR
\u00a0
272
\u00a0
million
\u00a0
(256).
Purchase
\u00a0
price
\u00a0
allocation
\u00a0
amortisation
\u00a0
amounted
\u00a0
to
\u00a0
EUR
\u00a0
20
\u00a0
million
\u00a0
(23)
\u00a0
and
\u00a0
the
\u00a0
related
\u00a0
carrying
\u00a0
amount
\u00a0
was
EUR
\u00a0
67
\u00a0
million
\u00a0
(92).
In
\u00a0
2023,
\u00a0
the
\u00a0
majority
\u00a0
of
\u00a0
the
\u00a0
impairment
\u00a0
of
\u00a0
other
\u00a0
intangible
\u00a0
assets
\u00a0
have
\u00a0
been
\u00a0
recognised
\u00a0
as
\u00a0
a
\u00a0
result
\u00a0
of
\u00a0
the
structural
\u00a0
changes
\u00a0
carried
\u00a0
out
\u00a0
related
\u00a0
to
\u00a0
the
\u00a0
old
\u00a0
Voyage
\u00a0
Business.
", "dimensions": { "concept": "ifrs-full:DisclosureOfIntangibleAssetsExplanatory", "language": "en", "entity": "scheme:743700G7A9J1PHM3X223", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00" } }, "ID_38": { "value": "
Accounting
\u00a0
principles
Research
\u00a0
and
\u00a0
development
\u00a0
costs
Research
\u00a0
costs
\u00a0
are
\u00a0
expensed
\u00a0
in
\u00a0
the
\u00a0
reporting
\u00a0
period
\u00a0
during
\u00a0
which
\u00a0
they
\u00a0
occur.
\u00a0
Development
\u00a0
costs
\u00a0
are
capitalised
\u00a0
when
\u00a0
it
\u00a0
is
\u00a0
probable
\u00a0
that
\u00a0
the
\u00a0
development
\u00a0
project
\u00a0
will
\u00a0
generate
\u00a0
future
\u00a0
economic
\u00a0
benefits
\u00a0
for
\u00a0
the
Group
\u00a0
and
\u00a0
when
\u00a0
the
\u00a0
related
\u00a0
criteria,
\u00a0
including
\u00a0
commercial
\u00a0
and
\u00a0
technological
\u00a0
feasibility,
\u00a0
have
\u00a0
been
\u00a0
met.
These
\u00a0
projects
\u00a0
involve
\u00a0
the
\u00a0
development
\u00a0
of
\u00a0
new
\u00a0
or
\u00a0
significantly
\u00a0
improved
\u00a0
products
\u00a0
or
\u00a0
production
\u00a0
processes.
Earlier
\u00a0
expensed
\u00a0
development
\u00a0
costs
\u00a0
are
\u00a0
not
\u00a0
capitalised.
Capitalised
\u00a0
development
\u00a0
costs
\u00a0
are
\u00a0
measured
\u00a0
at
\u00a0
cost
\u00a0
less
\u00a0
accumulated
\u00a0
amortisations
\u00a0
and
\u00a0
impairment.
Capitalised
\u00a0
development
\u00a0
costs
\u00a0
are
\u00a0
amortised
\u00a0
and
\u00a0
the
\u00a0
cost
\u00a0
of
\u00a0
buildings,
\u00a0
machinery,
\u00a0
and
\u00a0
facilities
\u00a0
for
development
\u00a0
depreciated
\u00a0
on
\u00a0
a
\u00a0
straight-line
\u00a0
basis
\u00a0
over
\u00a0
their
\u00a0
expected
\u00a0
useful
\u00a0
lives
\u00a0
of
\u00a0
5-10
\u00a0
years.
Amortisations
\u00a0
are
\u00a0
started
\u00a0
when
\u00a0
the
\u00a0
asset
\u00a0
is
\u00a0
completed
\u00a0
and
\u00a0
can
\u00a0
be
\u00a0
taken
\u00a0
into
\u00a0
use.
\u00a0
Before
\u00a0
that,
\u00a0
the
\u00a0
asset
\u00a0
is
tested
\u00a0
annually
\u00a0
for
\u00a0
impairment.
\u00a0
Grants
\u00a0
received
\u00a0
for
\u00a0
research
\u00a0
and
\u00a0
development
\u00a0
are
\u00a0
reported
\u00a0
as
\u00a0
other
operating
\u00a0
income.
\u00a0
Grants
\u00a0
related
\u00a0
to
\u00a0
capitalised
\u00a0
development
\u00a0
costs
\u00a0
are
\u00a0
netted
\u00a0
with
\u00a0
the
\u00a0
costs
\u00a0
incurred
\u00a0
before
the
\u00a0
capitalisation.
Other
\u00a0
intangible
\u00a0
assets
Other
\u00a0
intangible
\u00a0
assets
\u00a0
are
\u00a0
recognised
\u00a0
at
\u00a0
cost
\u00a0
if
\u00a0
the
\u00a0
cost
\u00a0
is
\u00a0
reliably
\u00a0
measurable
\u00a0
and
\u00a0
the
\u00a0
future
\u00a0
economic
benefits
\u00a0
for
\u00a0
the
\u00a0
Group
\u00a0
are
\u00a0
probable.
\u00a0
W\u00e4rtsil\u00e4\u2019s
\u00a0
other
\u00a0
intangible
\u00a0
assets
\u00a0
include
\u00a0
patents,
\u00a0
licenses,
\u00a0
software,
customer
\u00a0
relations
\u00a0
and
\u00a0
other
\u00a0
intellectual
\u00a0
property
\u00a0
rights
\u00a0
that
\u00a0
can
\u00a0
be
\u00a0
transferred
\u00a0
to
\u00a0
a
\u00a0
third
\u00a0
party.
\u00a0
These
\u00a0
are
measured
\u00a0
at
\u00a0
cost,
\u00a0
except
\u00a0
for
\u00a0
intangible
\u00a0
assets
\u00a0
identified
\u00a0
in
\u00a0
connection
\u00a0
with
\u00a0
acquisitions,
\u00a0
which
\u00a0
are
measured
\u00a0
at
\u00a0
the
\u00a0
fair
\u00a0
value
\u00a0
at
\u00a0
the
\u00a0
acquisition
\u00a0
date.
\u00a0
The
\u00a0
cost
\u00a0
of
\u00a0
intangible
\u00a0
assets
\u00a0
comprises
\u00a0
the
\u00a0
purchase
price
\u00a0
and
\u00a0
all
\u00a0
costs
\u00a0
that
\u00a0
can
\u00a0
be
\u00a0
directly
\u00a0
attributed
\u00a0
to
\u00a0
preparing
\u00a0
an
\u00a0
asset
\u00a0
for
\u00a0
its
\u00a0
intended
\u00a0
use.
Other
\u00a0
intangible
\u00a0
assets
\u00a0
are
\u00a0
amortised
\u00a0
on
\u00a0
a
\u00a0
straight-line
\u00a0
basis
\u00a0
over
\u00a0
their
\u00a0
estimated
\u00a0
useful
\u00a0
lives.
\u00a0
Intangible
assets,
\u00a0
for
\u00a0
which
\u00a0
the
\u00a0
time
\u00a0
limit
\u00a0
for
\u00a0
the
\u00a0
right
\u00a0
of
\u00a0
use
\u00a0
is
\u00a0
agreed,
\u00a0
are
\u00a0
amortised
\u00a0
over
\u00a0
the
\u00a0
life
\u00a0
of
\u00a0
the
\u00a0
contract.
\u00a0
\n
\u00a0
\n
\u00a0
\n
Intangible
\u00a0
assets
\u00a0
identified
\u00a0
in
\u00a0
connection
\u00a0
with
\u00a0
acquisitions
\u00a0
are
\u00a0
amortised
\u00a0
over
\u00a0
their
\u00a0
delivery
\u00a0
times
\u00a0
or
estimated
\u00a0
useful
\u00a0
lives.
The
\u00a0
general
\u00a0
guidelines
\u00a0
for
\u00a0
scheduled
\u00a0
amortisation
\u00a0
are:
\u2022
\u00a0
Software
\u00a0
3-7
\u00a0
years
\u2022
\u00a0
Development
\u00a0
expenses
\u00a0
5-10
\u00a0
years
\u2022
\u00a0
Other
\u00a0
intangible
\u00a0
assets
\u00a0
5-20
\u00a0
years
The
\u00a0
amortisation
\u00a0
of
\u00a0
intangible
\u00a0
assets
\u00a0
is
\u00a0
discontinued
\u00a0
when
\u00a0
an
\u00a0
item
\u00a0
is
\u00a0
classified
\u00a0
as
\u00a0
held
\u00a0
for
\u00a0
sale.
A
\u00a0
gain
\u00a0
or
\u00a0
loss
\u00a0
arising
\u00a0
from
\u00a0
the
\u00a0
sale
\u00a0
of
\u00a0
intangible
\u00a0
assets
\u00a0
is
\u00a0
recognised
\u00a0
as
\u00a0
other
\u00a0
operating
\u00a0
income
\u00a0
or
\u00a0
other
operating
\u00a0
expenses
\u00a0
in
\u00a0
the
\u00a0
statement
\u00a0
of
\u00a0
income.
\u00a0
\n
Impairment
\u00a0
of
\u00a0
assets
The
\u00a0
carrying
\u00a0
amounts
\u00a0
of
\u00a0
assets
\u00a0
are
\u00a0
reviewed
\u00a0
annually
\u00a0
for
\u00a0
signs
\u00a0
of
\u00a0
possible
\u00a0
impairment
\u00a0
or
\u00a0
more
\u00a0
frequently
should
\u00a0
any
\u00a0
indication
\u00a0
of
\u00a0
impairment
\u00a0
arise.
\u00a0
If
\u00a0
any
\u00a0
such
\u00a0
indication
\u00a0
exists,
\u00a0
the
\u00a0
recoverable
\u00a0
amount
\u00a0
of
\u00a0
the
\u00a0
asset
is
\u00a0
estimated
\u00a0
and
\u00a0
compared
\u00a0
to
\u00a0
the
\u00a0
carrying
\u00a0
amount
\u00a0
of
\u00a0
the
\u00a0
asset.
\u00a0
An
\u00a0
impairment
\u00a0
loss
\u00a0
is
\u00a0
recognised
\u00a0
when
\u00a0
the
carrying
\u00a0
amount
\u00a0
of
\u00a0
an
\u00a0
asset
\u00a0
is
\u00a0
greater
\u00a0
than
\u00a0
its
\u00a0
recoverable
\u00a0
amount.
\u00a0
The
\u00a0
recoverable
\u00a0
amount
\u00a0
is
\u00a0
the
\u00a0
higher
\u00a0
of
an
\u00a0
asset\u2019s
\u00a0
fair
\u00a0
value
\u00a0
less
\u00a0
costs
\u00a0
to
\u00a0
sell
\u00a0
and
\u00a0
its
\u00a0
value
\u00a0
in
\u00a0
use.
An
\u00a0
impairment
\u00a0
loss
\u00a0
is
\u00a0
recognised
\u00a0
immediately
as
\u00a0
depreciation,
\u00a0
amortisation
\u00a0
and
\u00a0
impairment
in
\u00a0
the
statement
\u00a0
of
\u00a0
income.
\u00a0
In
\u00a0
connection
\u00a0
with
\u00a0
the
\u00a0
recognition
\u00a0
of
\u00a0
the
\u00a0
impairment
\u00a0
loss,
\u00a0
the
\u00a0
useful
\u00a0
life
\u00a0
of
\u00a0
the
amortisable
\u00a0
asset
\u00a0
is
\u00a0
reassessed.
\u00a0
An
\u00a0
earlier
\u00a0
impairment
\u00a0
loss
\u00a0
recognised
\u00a0
for
\u00a0
an
\u00a0
asset
\u00a0
is
\u00a0
reversed
\u00a0
if
\u00a0
the
estimates
\u00a0
used
\u00a0
to
\u00a0
determine
\u00a0
the
\u00a0
recoverable
\u00a0
amount
\u00a0
change.
\u00a0
However,
\u00a0
any
\u00a0
reversal
\u00a0
of
\u00a0
impairment
\u00a0
shall
not
\u00a0
exceed
\u00a0
the
\u00a0
asset\u2019s
\u00a0
carrying
\u00a0
amount
\u00a0
if
\u00a0
no
\u00a0
impairment
\u00a0
loss
\u00a0
would
\u00a0
have
\u00a0
been
\u00a0
recognised.
", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForIntangibleAssetsOtherThanGoodwillExplanatory", "language": "en", "entity": "scheme:743700G7A9J1PHM3X223", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00" } }, "ID_39": { "value": "
Research
\u00a0
and
\u00a0
development
\u00a0
costs
Research
\u00a0
costs
\u00a0
are
\u00a0
expensed
\u00a0
in
\u00a0
the
\u00a0
reporting
\u00a0
period
\u00a0
during
\u00a0
which
\u00a0
they
\u00a0
occur.
\u00a0
Development
\u00a0
costs
\u00a0
are
capitalised
\u00a0
when
\u00a0
it
\u00a0
is
\u00a0
probable
\u00a0
that
\u00a0
the
\u00a0
development
\u00a0
project
\u00a0
will
\u00a0
generate
\u00a0
future
\u00a0
economic
\u00a0
benefits
\u00a0
for
\u00a0
the
Group
\u00a0
and
\u00a0
when
\u00a0
the
\u00a0
related
\u00a0
criteria,
\u00a0
including
\u00a0
commercial
\u00a0
and
\u00a0
technological
\u00a0
feasibility,
\u00a0
have
\u00a0
been
\u00a0
met.
These
\u00a0
projects
\u00a0
involve
\u00a0
the
\u00a0
development
\u00a0
of
\u00a0
new
\u00a0
or
\u00a0
significantly
\u00a0
improved
\u00a0
products
\u00a0
or
\u00a0
production
\u00a0
processes.
Earlier
\u00a0
expensed
\u00a0
development
\u00a0
costs
\u00a0
are
\u00a0
not
\u00a0
capitalised.
Capitalised
\u00a0
development
\u00a0
costs
\u00a0
are
\u00a0
measured
\u00a0
at
\u00a0
cost
\u00a0
less
\u00a0
accumulated
\u00a0
amortisations
\u00a0
and
\u00a0
impairment.
Capitalised
\u00a0
development
\u00a0
costs
\u00a0
are
\u00a0
amortised
\u00a0
and
\u00a0
the
\u00a0
cost
\u00a0
of
\u00a0
buildings,
\u00a0
machinery,
\u00a0
and
\u00a0
facilities
\u00a0
for
development
\u00a0
depreciated
\u00a0
on
\u00a0
a
\u00a0
straight-line
\u00a0
basis
\u00a0
over
\u00a0
their
\u00a0
expected
\u00a0
useful
\u00a0
lives
\u00a0
of
\u00a0
5-10
\u00a0
years.
Amortisations
\u00a0
are
\u00a0
started
\u00a0
when
\u00a0
the
\u00a0
asset
\u00a0
is
\u00a0
completed
\u00a0
and
\u00a0
can
\u00a0
be
\u00a0
taken
\u00a0
into
\u00a0
use.
\u00a0
Before
\u00a0
that,
\u00a0
the
\u00a0
asset
\u00a0
is
tested
\u00a0
annually
\u00a0
for
\u00a0
impairment.
\u00a0
Grants
\u00a0
received
\u00a0
for
\u00a0
research
\u00a0
and
\u00a0
development
\u00a0
are
\u00a0
reported
\u00a0
as
\u00a0
other
operating
\u00a0
income.
\u00a0
Grants
\u00a0
related
\u00a0
to
\u00a0
capitalised
\u00a0
development
\u00a0
costs
\u00a0
are
\u00a0
netted
\u00a0
with
\u00a0
the
\u00a0
costs
\u00a0
incurred
\u00a0
before
the
\u00a0
capitalisation.
", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForResearchAndDevelopmentExpenseExplanatory", "language": "en", "entity": "scheme:743700G7A9J1PHM3X223", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00" } }, "ID_37": { "value": "
2022
MEUR
Develop-
ment
expenses
Construc-
tion
\u00a0
in
progress
\u00a0
and
\u00a0
advances
paid
Other
\u00a0
intangible
\u00a0
assets
Total
\u00a0
Cost
\u00a0
on
\u00a0
1
\u00a0
January
\u00a0
2022
211
148
841
1
\u00a0
200
Changes
\u00a0
in
\u00a0
exchange
\u00a0
rates
-1
-1
-6
-7
Acquisitions
1
1
Disposals
-1
-1
Additions
3
73
9
85
Decreases
\u00a0
and
\u00a0
other
\u00a0
changes
-10
-20
-29
Reclassifications
41
-45
4
Cost
\u00a0
on
\u00a0
31
\u00a0
December
\u00a0
2022
245
176
829
1
\u00a0
249
Accumulated
\u00a0
amortisation
\u00a0
and
\u00a0
impairment
\u00a0
on
\u00a0
1
\u00a0
January
\u00a0
2022
-128
-1
-670
-799
Changes
\u00a0
in
\u00a0
exchange
\u00a0
rates
8
8
Disposals
1
1
Accumulated
\u00a0
amortisation
\u00a0
on
\u00a0
decreases
\u00a0
and
\u00a0
other
\u00a0
changes
10
15
25
Amortisation
\u00a0
during
\u00a0
the
\u00a0
financial
\u00a0
period
-18
-31
-49
Impairment
-16
-26
-42
Accumulated
\u00a0
amortisation
\u00a0
and
\u00a0
impairment
\u00a0
on
\u00a0
31
December
\u00a0
2022
-153
-1
-704
-857
Carrying
\u00a0
amount
\u00a0
on
\u00a0
31
\u00a0
December
\u00a0
2022
92
175
126
392
", "dimensions": { "concept": "ifrs-full:DisclosureOfIntangibleAssetsExplanatory", "language": "en", "entity": "scheme:743700G7A9J1PHM3X223", "period": "2022-01-01T00:00:00/2023-01-01T00:00:00" } }, "ID_40": { "value": "
\u00a0
\n
\u00a0
\n
3.3.
\u00a0
PROPERTY,
\u00a0
PLANT
\u00a0
AND
\u00a0
EQUIPMENT
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
Accounting
\u00a0
principles
Property,
\u00a0
plant
\u00a0
and
\u00a0
equipment
\u00a0
acquired
\u00a0
by
\u00a0
the
\u00a0
Group
\u00a0
are
\u00a0
measured
\u00a0
in
\u00a0
the
\u00a0
statement
\u00a0
of
\u00a0
financial
\u00a0
position
\u00a0
at
cost
\u00a0
less
\u00a0
accumulated
\u00a0
depreciation
\u00a0
and
\u00a0
impairment
\u00a0
losses.
\u00a0
The
\u00a0
cost
\u00a0
of
\u00a0
an
\u00a0
asset
\u00a0
includes
\u00a0
costs
\u00a0
directly
attributed
\u00a0
to
\u00a0
preparing
\u00a0
the
\u00a0
asset
\u00a0
for
\u00a0
its
\u00a0
intended
\u00a0
use.
\u00a0
Grants
\u00a0
received
\u00a0
are
\u00a0
reported
\u00a0
as
\u00a0
a
\u00a0
reduction
\u00a0
in
\u00a0
costs.
The
\u00a0
property,
\u00a0
plant
\u00a0
and
\u00a0
equipment
\u00a0
of
\u00a0
acquired
\u00a0
subsidiaries
\u00a0
are
\u00a0
measured
\u00a0
at
\u00a0
their
\u00a0
fair
\u00a0
value
\u00a0
at
\u00a0
the
acquisition
\u00a0
date.
\u00a0
The
\u00a0
borrowing
\u00a0
costs
\u00a0
that
\u00a0
are
\u00a0
directly
\u00a0
attributable
\u00a0
to
\u00a0
the
\u00a0
asset
\u00a0
acquisition,
\u00a0
construction
\u00a0
or
production,
\u00a0
and
\u00a0
to
\u00a0
the
\u00a0
completion
\u00a0
of
\u00a0
the
\u00a0
asset
\u00a0
for
\u00a0
its
\u00a0
intended
\u00a0
use
\u00a0
or
\u00a0
sale
\u00a0
requiring
\u00a0
necessarily
\u00a0
a
considerable
\u00a0
length
\u00a0
of
\u00a0
time,
\u00a0
will
\u00a0
be
\u00a0
capitalised
\u00a0
in
\u00a0
the
\u00a0
statement
\u00a0
of
\u00a0
financial
\u00a0
position
\u00a0
as
\u00a0
part
\u00a0
of
\u00a0
the
\u00a0
cost
\u00a0
of
\u00a0
the
asset.
\u00a0
Other
\u00a0
than
\u00a0
directly
\u00a0
attributable
\u00a0
borrowing,
\u00a0
costs
\u00a0
are
\u00a0
expensed
\u00a0
in
\u00a0
the
\u00a0
period
\u00a0
in
\u00a0
which
\u00a0
they
\u00a0
are
incurred.
Subsequent
\u00a0
expenditure
\u00a0
is
\u00a0
included
\u00a0
in
\u00a0
the
\u00a0
cost
\u00a0
of
\u00a0
an
\u00a0
asset
\u00a0
only
\u00a0
if
\u00a0
the
\u00a0
future
\u00a0
economic
\u00a0
benefits
\u00a0
are
\u00a0
probable
and
\u00a0
the
\u00a0
costs
\u00a0
are
\u00a0
reliably
\u00a0
measurable.
\u00a0
Expenditure
\u00a0
related
\u00a0
to
\u00a0
regular,
\u00a0
extensive
\u00a0
inspections
\u00a0
and
maintenance
\u00a0
is
\u00a0
treated
\u00a0
as
\u00a0
an
\u00a0
investment,
\u00a0
capitalised
\u00a0
and
\u00a0
depreciated
\u00a0
during
\u00a0
the
\u00a0
useful
\u00a0
life.
\u00a0
All
\u00a0
other
expenditure,
\u00a0
such
\u00a0
as
\u00a0
ordinary
\u00a0
maintenance
\u00a0
and
\u00a0
repairs,
\u00a0
is
\u00a0
recognised
\u00a0
in
\u00a0
the
\u00a0
statement
\u00a0
of
\u00a0
income
\u00a0
as
\u00a0
an
expense
\u00a0
as
\u00a0
incurred.
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
Depreciation
\u00a0
is
\u00a0
based
\u00a0
on
\u00a0
the
\u00a0
following
\u00a0
estimated
\u00a0
useful
\u00a0
lives:
\u2022
\u00a0
Buildings
\u00a0
10-40
\u00a0
years
\u2022
\u00a0
Machinery
\u00a0
and
\u00a0
equipment
\u00a0
5-20
\u00a0
years
\u2022
\u00a0
Other
\u00a0
tangible
\u00a0
assets
\u00a0
3-10
\u00a0
years
Depreciation
\u00a0
is
\u00a0
expensed
\u00a0
on
\u00a0
a
\u00a0
straight-line
\u00a0
basis
\u00a0
over
\u00a0
the
\u00a0
estimated
\u00a0
useful
\u00a0
lives
\u00a0
of
\u00a0
the
\u00a0
assets.
\u00a0
Land
\u00a0
is
\u00a0
not
depreciated,
\u00a0
as
\u00a0
its
\u00a0
useful
\u00a0
life
\u00a0
is
\u00a0
considered
\u00a0
as
\u00a0
infinite.
\u00a0
The
\u00a0
estimated
\u00a0
useful
\u00a0
lives
\u00a0
and
\u00a0
the
\u00a0
residual
\u00a0
values
\u00a0
are
reviewed
\u00a0
at
\u00a0
least
\u00a0
at
\u00a0
the
\u00a0
end
\u00a0
of
\u00a0
each
\u00a0
reporting
\u00a0
period,
\u00a0
and
\u00a0
if
\u00a0
they
\u00a0
differ
\u00a0
significantly
\u00a0
from
\u00a0
previous
\u00a0
estimates,
the
\u00a0
depreciation
\u00a0
periods
\u00a0
are
\u00a0
adjusted
\u00a0
accordingly.
\u00a0
Depreciation
\u00a0
of
\u00a0
property,
\u00a0
plant
\u00a0
and
\u00a0
equipment
\u00a0
is
discontinued
\u00a0
when
\u00a0
an
\u00a0
item
\u00a0
is
\u00a0
classified
\u00a0
as
\u00a0
held
\u00a0
for
\u00a0
sale.
A
\u00a0
gain
\u00a0
or
\u00a0
loss
\u00a0
arising
\u00a0
from
\u00a0
the
\u00a0
sale
\u00a0
of
\u00a0
property,
\u00a0
plant
\u00a0
and
\u00a0
equipment
\u00a0
is
\u00a0
recognised
\u00a0
as
\u00a0
other
\u00a0
operating
income
\u00a0
or
\u00a0
other
\u00a0
operating
\u00a0
expenses
\u00a0
in
\u00a0
the
\u00a0
statement
\u00a0
of
\u00a0
income.
\u00a0
\n
\u00a0
\n
\u00a0
\n
Impairment
\u00a0
of
\u00a0
assets
The
\u00a0
carrying
\u00a0
amounts
\u00a0
of
\u00a0
assets
\u00a0
are
\u00a0
reviewed
\u00a0
annually
\u00a0
for
\u00a0
signs
\u00a0
of
\u00a0
possible
\u00a0
impairment,
\u00a0
or
\u00a0
more
\u00a0
frequently
should
\u00a0
any
\u00a0
indication
\u00a0
of
\u00a0
impairment
\u00a0
arise.
\u00a0
If
\u00a0
any
\u00a0
such
\u00a0
indication
\u00a0
exists,
\u00a0
the
\u00a0
recoverable
\u00a0
amount
\u00a0
of
\u00a0
the
\u00a0
asset
is
\u00a0
estimated
\u00a0
and
\u00a0
compared
\u00a0
to
\u00a0
the
\u00a0
carrying
\u00a0
amount
\u00a0
of
\u00a0
the
\u00a0
asset.
\u00a0
An
\u00a0
impairment
\u00a0
loss
\u00a0
is
\u00a0
recognised
\u00a0
when
\u00a0
the
carrying
\u00a0
amount
\u00a0
of
\u00a0
an
\u00a0
asset
\u00a0
is
\u00a0
greater
\u00a0
than
\u00a0
its
\u00a0
recoverable
\u00a0
amount.
\u00a0
The
\u00a0
recoverable
\u00a0
amount
\u00a0
is
\u00a0
the
\u00a0
higher
\u00a0
of
an
\u00a0
asset\u2019s
\u00a0
fair
\u00a0
value
\u00a0
less
\u00a0
costs
\u00a0
to
\u00a0
sell
\u00a0
and
\u00a0
its
\u00a0
value
\u00a0
in
\u00a0
use.
An
\u00a0
impairment
\u00a0
loss
\u00a0
is
\u00a0
recognised
\u00a0
immediately
\u00a0
as
depreciation,
\u00a0
amortisation
\u00a0
and
\u00a0
impairment
in
\u00a0
the
statement
\u00a0
of
\u00a0
income.
\u00a0
In
\u00a0
connection
\u00a0
with
\u00a0
the
\u00a0
recognition
\u00a0
of
\u00a0
the
\u00a0
impairment
\u00a0
loss,
\u00a0
the
\u00a0
useful
\u00a0
life
\u00a0
of
\u00a0
the
depreciable
\u00a0
asset
\u00a0
is
\u00a0
reassessed.
\u00a0
An
\u00a0
earlier
\u00a0
impairment
\u00a0
loss
\u00a0
recognised
\u00a0
for
\u00a0
an
\u00a0
asset
\u00a0
is
\u00a0
reversed
\u00a0
if
\u00a0
the
estimates
\u00a0
used
\u00a0
to
\u00a0
determine
\u00a0
the
\u00a0
recoverable
\u00a0
amount
\u00a0
change.
\u00a0
However,
\u00a0
any
\u00a0
reversal
\u00a0
of
\u00a0
impairment
\u00a0
shall
not
\u00a0
exceed
\u00a0
the
\u00a0
asset\u2019s
\u00a0
carrying
\u00a0
amount
\u00a0
if
\u00a0
no
\u00a0
impairment
\u00a0
loss
\u00a0
would
\u00a0
have
\u00a0
been
\u00a0
recognised.
Accounting
\u00a0
estimates
\u00a0
and
\u00a0
judgements
Assessing
\u00a0
the
\u00a0
probability
\u00a0
of
\u00a0
expected
\u00a0
future
\u00a0
economic
\u00a0
benefits
\u00a0
and
\u00a0
useful
\u00a0
lives
\u00a0
of
\u00a0
property,
\u00a0
plant
\u00a0
and
equipment
\u00a0
require
\u00a0
management
\u00a0
judgement.
\u00a0
The
\u00a0
estimated
\u00a0
useful
\u00a0
lives
\u00a0
and
\u00a0
residual
\u00a0
values
\u00a0
are
\u00a0
reviewed
\u00a0
at
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
least
\u00a0
at
\u00a0
the
\u00a0
end
\u00a0
of
\u00a0
each
\u00a0
reporting
\u00a0
period,
\u00a0
and
\u00a0
if
\u00a0
they
\u00a0
differ
\u00a0
significantly
\u00a0
from
\u00a0
previous
\u00a0
estimates,
\u00a0
the
depreciation
\u00a0
periods
\u00a0
are
\u00a0
adjusted
\u00a0
accordingly.
\u00a0
Also,
\u00a0
assessing
\u00a0
any
\u00a0
indication
\u00a0
of
\u00a0
impairment
\u00a0
requires
management
\u00a0
judgement.
2023
MEUR
Land
\u00a0
and
\u00a0
water
Build-
ings
\u00a0
and
\u00a0
struc-
tures
Machin-
ery
\u00a0
and
\u00a0
equip-
ment
Construc-
tion
\u00a0
in
\u00a0
progress
\u00a0
and
\u00a0
ad-
vances
paid
Other
tangible
assets
Total
Cost
\u00a0
on
\u00a0
1
\u00a0
January
\u00a0
2023
22
235
758
90
31
1
\u00a0
136
Changes
\u00a0
in
\u00a0
exchange
\u00a0
rates
0
-3
-8
0
0
-11
Additions
0
1
20
31
2
54
Decreases
-1
-1
-41
0
0
-43
Reclassifications
0
24
80
-64
0
41
Cost
\u00a0
on
\u00a0
31
\u00a0
December
\u00a0
2023
22
256
810
57
33
1
\u00a0
177
Accumulated
\u00a0
depreciation
\u00a0
and
\u00a0
impairment
\u00a0
on
\u00a0
1
January
\u00a0
2023
-1
-170
-636
0
-25
-832
Changes
\u00a0
in
\u00a0
exchange
\u00a0
rates
0
2
7
0
0
9
Accumulated
\u00a0
depreciation
\u00a0
on
\u00a0
decreases
\u00a0
and
disposals
0
1
41
0
0
43
Depreciation
\u00a0
during
\u00a0
the
\u00a0
financial
\u00a0
period
0
-8
-32
0
-2
-42
Impairment
0
-1
-3
0
0
-4
Reclassifications
0
-23
-21
0
0
-44
Accumulated
\u00a0
depreciation
\u00a0
and
\u00a0
impairment
on
\u00a0
31
\u00a0
December
\u00a0
2023
-1
-198
-644
0
-27
-870
Carrying
\u00a0
amount
\u00a0
on
\u00a0
31
\u00a0
December
\u00a0
2023
21
58
166
57
5
307
", "dimensions": { "concept": "ifrs-full:DisclosureOfPropertyPlantAndEquipmentExplanatory", "language": "en", "entity": "scheme:743700G7A9J1PHM3X223", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00" } }, "ID_42": { "value": "
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
Accounting
\u00a0
principles
Property,
\u00a0
plant
\u00a0
and
\u00a0
equipment
\u00a0
acquired
\u00a0
by
\u00a0
the
\u00a0
Group
\u00a0
are
\u00a0
measured
\u00a0
in
\u00a0
the
\u00a0
statement
\u00a0
of
\u00a0
financial
\u00a0
position
\u00a0
at
cost
\u00a0
less
\u00a0
accumulated
\u00a0
depreciation
\u00a0
and
\u00a0
impairment
\u00a0
losses.
\u00a0
The
\u00a0
cost
\u00a0
of
\u00a0
an
\u00a0
asset
\u00a0
includes
\u00a0
costs
\u00a0
directly
attributed
\u00a0
to
\u00a0
preparing
\u00a0
the
\u00a0
asset
\u00a0
for
\u00a0
its
\u00a0
intended
\u00a0
use.
\u00a0
Grants
\u00a0
received
\u00a0
are
\u00a0
reported
\u00a0
as
\u00a0
a
\u00a0
reduction
\u00a0
in
\u00a0
costs.
The
\u00a0
property,
\u00a0
plant
\u00a0
and
\u00a0
equipment
\u00a0
of
\u00a0
acquired
\u00a0
subsidiaries
\u00a0
are
\u00a0
measured
\u00a0
at
\u00a0
their
\u00a0
fair
\u00a0
value
\u00a0
at
\u00a0
the
acquisition
\u00a0
date.
\u00a0
The
\u00a0
borrowing
\u00a0
costs
\u00a0
that
\u00a0
are
\u00a0
directly
\u00a0
attributable
\u00a0
to
\u00a0
the
\u00a0
asset
\u00a0
acquisition,
\u00a0
construction
\u00a0
or
production,
\u00a0
and
\u00a0
to
\u00a0
the
\u00a0
completion
\u00a0
of
\u00a0
the
\u00a0
asset
\u00a0
for
\u00a0
its
\u00a0
intended
\u00a0
use
\u00a0
or
\u00a0
sale
\u00a0
requiring
\u00a0
necessarily
\u00a0
a
considerable
\u00a0
length
\u00a0
of
\u00a0
time,
\u00a0
will
\u00a0
be
\u00a0
capitalised
\u00a0
in
\u00a0
the
\u00a0
statement
\u00a0
of
\u00a0
financial
\u00a0
position
\u00a0
as
\u00a0
part
\u00a0
of
\u00a0
the
\u00a0
cost
\u00a0
of
\u00a0
the
asset.
\u00a0
Other
\u00a0
than
\u00a0
directly
\u00a0
attributable
\u00a0
borrowing,
\u00a0
costs
\u00a0
are
\u00a0
expensed
\u00a0
in
\u00a0
the
\u00a0
period
\u00a0
in
\u00a0
which
\u00a0
they
\u00a0
are
incurred.
Subsequent
\u00a0
expenditure
\u00a0
is
\u00a0
included
\u00a0
in
\u00a0
the
\u00a0
cost
\u00a0
of
\u00a0
an
\u00a0
asset
\u00a0
only
\u00a0
if
\u00a0
the
\u00a0
future
\u00a0
economic
\u00a0
benefits
\u00a0
are
\u00a0
probable
and
\u00a0
the
\u00a0
costs
\u00a0
are
\u00a0
reliably
\u00a0
measurable.
\u00a0
Expenditure
\u00a0
related
\u00a0
to
\u00a0
regular,
\u00a0
extensive
\u00a0
inspections
\u00a0
and
maintenance
\u00a0
is
\u00a0
treated
\u00a0
as
\u00a0
an
\u00a0
investment,
\u00a0
capitalised
\u00a0
and
\u00a0
depreciated
\u00a0
during
\u00a0
the
\u00a0
useful
\u00a0
life.
\u00a0
All
\u00a0
other
expenditure,
\u00a0
such
\u00a0
as
\u00a0
ordinary
\u00a0
maintenance
\u00a0
and
\u00a0
repairs,
\u00a0
is
\u00a0
recognised
\u00a0
in
\u00a0
the
\u00a0
statement
\u00a0
of
\u00a0
income
\u00a0
as
\u00a0
an
expense
\u00a0
as
\u00a0
incurred.
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
Depreciation
\u00a0
is
\u00a0
based
\u00a0
on
\u00a0
the
\u00a0
following
\u00a0
estimated
\u00a0
useful
\u00a0
lives:
\u2022
\u00a0
Buildings
\u00a0
10-40
\u00a0
years
\u2022
\u00a0
Machinery
\u00a0
and
\u00a0
equipment
\u00a0
5-20
\u00a0
years
\u2022
\u00a0
Other
\u00a0
tangible
\u00a0
assets
\u00a0
3-10
\u00a0
years
Depreciation
\u00a0
is
\u00a0
expensed
\u00a0
on
\u00a0
a
\u00a0
straight-line
\u00a0
basis
\u00a0
over
\u00a0
the
\u00a0
estimated
\u00a0
useful
\u00a0
lives
\u00a0
of
\u00a0
the
\u00a0
assets.
\u00a0
Land
\u00a0
is
\u00a0
not
depreciated,
\u00a0
as
\u00a0
its
\u00a0
useful
\u00a0
life
\u00a0
is
\u00a0
considered
\u00a0
as
\u00a0
infinite.
\u00a0
The
\u00a0
estimated
\u00a0
useful
\u00a0
lives
\u00a0
and
\u00a0
the
\u00a0
residual
\u00a0
values
\u00a0
are
reviewed
\u00a0
at
\u00a0
least
\u00a0
at
\u00a0
the
\u00a0
end
\u00a0
of
\u00a0
each
\u00a0
reporting
\u00a0
period,
\u00a0
and
\u00a0
if
\u00a0
they
\u00a0
differ
\u00a0
significantly
\u00a0
from
\u00a0
previous
\u00a0
estimates,
the
\u00a0
depreciation
\u00a0
periods
\u00a0
are
\u00a0
adjusted
\u00a0
accordingly.
\u00a0
Depreciation
\u00a0
of
\u00a0
property,
\u00a0
plant
\u00a0
and
\u00a0
equipment
\u00a0
is
discontinued
\u00a0
when
\u00a0
an
\u00a0
item
\u00a0
is
\u00a0
classified
\u00a0
as
\u00a0
held
\u00a0
for
\u00a0
sale.
A
\u00a0
gain
\u00a0
or
\u00a0
loss
\u00a0
arising
\u00a0
from
\u00a0
the
\u00a0
sale
\u00a0
of
\u00a0
property,
\u00a0
plant
\u00a0
and
\u00a0
equipment
\u00a0
is
\u00a0
recognised
\u00a0
as
\u00a0
other
\u00a0
operating
income
\u00a0
or
\u00a0
other
\u00a0
operating
\u00a0
expenses
\u00a0
in
\u00a0
the
\u00a0
statement
\u00a0
of
\u00a0
income.
\u00a0
\n
\u00a0
\n
\u00a0
\n
Impairment
\u00a0
of
\u00a0
assets
The
\u00a0
carrying
\u00a0
amounts
\u00a0
of
\u00a0
assets
\u00a0
are
\u00a0
reviewed
\u00a0
annually
\u00a0
for
\u00a0
signs
\u00a0
of
\u00a0
possible
\u00a0
impairment,
\u00a0
or
\u00a0
more
\u00a0
frequently
should
\u00a0
any
\u00a0
indication
\u00a0
of
\u00a0
impairment
\u00a0
arise.
\u00a0
If
\u00a0
any
\u00a0
such
\u00a0
indication
\u00a0
exists,
\u00a0
the
\u00a0
recoverable
\u00a0
amount
\u00a0
of
\u00a0
the
\u00a0
asset
is
\u00a0
estimated
\u00a0
and
\u00a0
compared
\u00a0
to
\u00a0
the
\u00a0
carrying
\u00a0
amount
\u00a0
of
\u00a0
the
\u00a0
asset.
\u00a0
An
\u00a0
impairment
\u00a0
loss
\u00a0
is
\u00a0
recognised
\u00a0
when
\u00a0
the
carrying
\u00a0
amount
\u00a0
of
\u00a0
an
\u00a0
asset
\u00a0
is
\u00a0
greater
\u00a0
than
\u00a0
its
\u00a0
recoverable
\u00a0
amount.
\u00a0
The
\u00a0
recoverable
\u00a0
amount
\u00a0
is
\u00a0
the
\u00a0
higher
\u00a0
of
an
\u00a0
asset\u2019s
\u00a0
fair
\u00a0
value
\u00a0
less
\u00a0
costs
\u00a0
to
\u00a0
sell
\u00a0
and
\u00a0
its
\u00a0
value
\u00a0
in
\u00a0
use.
An
\u00a0
impairment
\u00a0
loss
\u00a0
is
\u00a0
recognised
\u00a0
immediately
\u00a0
as
depreciation,
\u00a0
amortisation
\u00a0
and
\u00a0
impairment
in
\u00a0
the
statement
\u00a0
of
\u00a0
income.
\u00a0
In
\u00a0
connection
\u00a0
with
\u00a0
the
\u00a0
recognition
\u00a0
of
\u00a0
the
\u00a0
impairment
\u00a0
loss,
\u00a0
the
\u00a0
useful
\u00a0
life
\u00a0
of
\u00a0
the
depreciable
\u00a0
asset
\u00a0
is
\u00a0
reassessed.
\u00a0
An
\u00a0
earlier
\u00a0
impairment
\u00a0
loss
\u00a0
recognised
\u00a0
for
\u00a0
an
\u00a0
asset
\u00a0
is
\u00a0
reversed
\u00a0
if
\u00a0
the
estimates
\u00a0
used
\u00a0
to
\u00a0
determine
\u00a0
the
\u00a0
recoverable
\u00a0
amount
\u00a0
change.
\u00a0
However,
\u00a0
any
\u00a0
reversal
\u00a0
of
\u00a0
impairment
\u00a0
shall
not
\u00a0
exceed
\u00a0
the
\u00a0
asset\u2019s
\u00a0
carrying
\u00a0
amount
\u00a0
if
\u00a0
no
\u00a0
impairment
\u00a0
loss
\u00a0
would
\u00a0
have
\u00a0
been
\u00a0
recognised.
", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForPropertyPlantAndEquipmentExplanatory", "language": "en", "entity": "scheme:743700G7A9J1PHM3X223", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00" } }, "ID_43": { "value": "
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
Depreciation
\u00a0
is
\u00a0
based
\u00a0
on
\u00a0
the
\u00a0
following
\u00a0
estimated
\u00a0
useful
\u00a0
lives:
\u2022
\u00a0
Buildings
\u00a0
10-40
\u00a0
years
\u2022
\u00a0
Machinery
\u00a0
and
\u00a0
equipment
\u00a0
5-20
\u00a0
years
\u2022
\u00a0
Other
\u00a0
tangible
\u00a0
assets
\u00a0
3-10
\u00a0
years
Depreciation
\u00a0
is
\u00a0
expensed
\u00a0
on
\u00a0
a
\u00a0
straight-line
\u00a0
basis
\u00a0
over
\u00a0
the
\u00a0
estimated
\u00a0
useful
\u00a0
lives
\u00a0
of
\u00a0
the
\u00a0
assets.
\u00a0
Land
\u00a0
is
\u00a0
not
depreciated,
\u00a0
as
\u00a0
its
\u00a0
useful
\u00a0
life
\u00a0
is
\u00a0
considered
\u00a0
as
\u00a0
infinite.
\u00a0
The
\u00a0
estimated
\u00a0
useful
\u00a0
lives
\u00a0
and
\u00a0
the
\u00a0
residual
\u00a0
values
\u00a0
are
reviewed
\u00a0
at
\u00a0
least
\u00a0
at
\u00a0
the
\u00a0
end
\u00a0
of
\u00a0
each
\u00a0
reporting
\u00a0
period,
\u00a0
and
\u00a0
if
\u00a0
they
\u00a0
differ
\u00a0
significantly
\u00a0
from
\u00a0
previous
\u00a0
estimates,
the
\u00a0
depreciation
\u00a0
periods
\u00a0
are
\u00a0
adjusted
\u00a0
accordingly.
\u00a0
Depreciation
\u00a0
of
\u00a0
property,
\u00a0
plant
\u00a0
and
\u00a0
equipment
\u00a0
is
discontinued
\u00a0
when
\u00a0
an
\u00a0
item
\u00a0
is
\u00a0
classified
\u00a0
as
\u00a0
held
\u00a0
for
\u00a0
sale.
", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForDepreciationExpenseExplanatory", "language": "en", "entity": "scheme:743700G7A9J1PHM3X223", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00" } }, "ID_41": { "value": "
2022
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
MEUR
Land
\u00a0
and
\u00a0
water
Build-
ings
\u00a0
and
\u00a0
struc-
tures
Machin-
ery
\u00a0
and
\u00a0
equip-
ment
Construc-
tion
\u00a0
in
\u00a0
progress
\u00a0
and
advances
\u00a0
paid
Other
tangible
assets
Total
Cost
\u00a0
on
\u00a0
1
\u00a0
January
\u00a0
2022
24
270
796
77
29
1
\u00a0
197
Changes
\u00a0
in
\u00a0
exchange
\u00a0
rates
1
3
4
Acquisitions
\u00a0
and
\u00a0
disposals
-2
-2
Additions
1
2
24
42
2
72
Decreases
-1
-14
-53
-1
-70
Reclassifications
-2
-23
-11
-29
-65
Cost
\u00a0
on
\u00a0
31
\u00a0
December
\u00a0
2022
22
235
758
90
31
1
\u00a0
136
Accumulated
\u00a0
depreciation
\u00a0
and
\u00a0
impairment
\u00a0
on
\u00a0
1
January
\u00a0
2022
-1
-184
-675
-24
-884
Changes
\u00a0
in
\u00a0
exchange
\u00a0
rates
-1
-3
-3
Accumulated
\u00a0
depreciation
\u00a0
on
\u00a0
decreases
\u00a0
and
disposals
10
52
1
62
Depreciation
\u00a0
during
\u00a0
the
\u00a0
financial
\u00a0
period
-9
-33
-2
-45
Impairment
-1
-10
-3
-14
Reclassifications
25
27
53
Accumulated
\u00a0
depreciation
\u00a0
and
\u00a0
impairment
on
\u00a0
31
\u00a0
December
\u00a0
2022
-1
-170
-636
-25
-832
Carrying
\u00a0
amount
\u00a0
on
\u00a0
31
\u00a0
December
\u00a0
2022
21
65
122
90
5
304
", "dimensions": { "concept": "ifrs-full:DisclosureOfPropertyPlantAndEquipmentExplanatory", "language": "en", "entity": "scheme:743700G7A9J1PHM3X223", "period": "2022-01-01T00:00:00/2023-01-01T00:00:00" } }, "ID_44": { "value": "
\u00a0
\n
3.4.
\u00a0
LEASES
Accounting
\u00a0
principles
The
\u00a0
Group's
\u00a0
capitalised
\u00a0
lease
\u00a0
agreements
\u00a0
consist
\u00a0
mainly
\u00a0
of
\u00a0
land,
\u00a0
buildings
\u00a0
used
\u00a0
as
\u00a0
office
\u00a0
premises,
factories,
\u00a0
workshops,
\u00a0
vehicles,
\u00a0
and
\u00a0
production
\u00a0
machinery
\u00a0
and
\u00a0
equipment.
\u00a0
The
\u00a0
average
\u00a0
lease
\u00a0
period
\u00a0
for
buildings
\u00a0
is
\u00a0
approximately
\u00a0
eight
\u00a0
years,
\u00a0
and
\u00a0
for
\u00a0
machinery
\u00a0
and
\u00a0
equipment
\u00a0
approximately
\u00a0
four
\u00a0
years.
\u00a0
The
Group
\u00a0
recognises
\u00a0
a
\u00a0
right-of-use
\u00a0
(ROU)
\u00a0
asset
\u00a0
and
\u00a0
a
\u00a0
lease
\u00a0
liability
\u00a0
at
\u00a0
the
\u00a0
commencement
\u00a0
of
\u00a0
the
\u00a0
lease.
Whether
\u00a0
a
\u00a0
contract
\u00a0
contains
\u00a0
a
\u00a0
lease
\u00a0
is
\u00a0
determined
\u00a0
based
\u00a0
on
\u00a0
whether
\u00a0
W\u00e4rtsil\u00e4
\u00a0
has
\u00a0
the
\u00a0
right
\u00a0
to
\u00a0
control
\u00a0
the
use
\u00a0
of
\u00a0
an
\u00a0
identified
\u00a0
asset
\u00a0
for
\u00a0
a
\u00a0
period
\u00a0
of
\u00a0
time.
At
\u00a0
the
\u00a0
commencement
\u00a0
date,
\u00a0
a
\u00a0
right-of-use
\u00a0
asset
\u00a0
as
\u00a0
defined
\u00a0
by
\u00a0
IFRS
\u00a0
16
\u00a0
is
\u00a0
measured
\u00a0
at
\u00a0
cost.
\u00a0
The
\u00a0
cost
\u00a0
of
\u00a0
the
right-of-use
\u00a0
asset
\u00a0
shall
\u00a0
comprise
\u00a0
the
\u00a0
amount
\u00a0
of
\u00a0
the
\u00a0
initial
\u00a0
measurement
\u00a0
of
\u00a0
the
\u00a0
lease
\u00a0
liability,
\u00a0
any
\u00a0
lease
payments
\u00a0
made
\u00a0
at
\u00a0
or
\u00a0
before
\u00a0
the
\u00a0
commencement
\u00a0
date
\u00a0
(less
\u00a0
any
\u00a0
lease
\u00a0
incentives
\u00a0
received),
\u00a0
any
\u00a0
initial
\u00a0
direct
costs
\u00a0
incurred
\u00a0
by
\u00a0
the
\u00a0
lessee
\u00a0
and
\u00a0
an
\u00a0
estimate
\u00a0
of
\u00a0
costs
\u00a0
to
\u00a0
be
\u00a0
incurred
\u00a0
by
\u00a0
the
\u00a0
lessee
\u00a0
in
\u00a0
dismantling
\u00a0
and
removing
\u00a0
the
\u00a0
underlying
\u00a0
asset,
\u00a0
restoring
\u00a0
the
\u00a0
site
\u00a0
on
\u00a0
which
\u00a0
it
\u00a0
is
\u00a0
located
\u00a0
or
\u00a0
restoring
\u00a0
the
\u00a0
underlying
\u00a0
asset
\u00a0
to
the
\u00a0
condition
\u00a0
required
\u00a0
by
\u00a0
the
\u00a0
terms
\u00a0
and
\u00a0
conditions
\u00a0
of
\u00a0
the
\u00a0
lease,
\u00a0
unless
\u00a0
those
\u00a0
costs
\u00a0
are
\u00a0
incurred
\u00a0
to
\u00a0
produce
inventories.
\u00a0
\n
\u00a0
\n
The
\u00a0
nominal
\u00a0
lease
\u00a0
liability
\u00a0
is
\u00a0
initially
\u00a0
measured
\u00a0
at
\u00a0
the
\u00a0
present
\u00a0
value
\u00a0
of
\u00a0
the
\u00a0
lease
\u00a0
payments
\u00a0
over
\u00a0
the
\u00a0
lease
term.
\u00a0
The
\u00a0
lease
\u00a0
payments
\u00a0
include
\u00a0
fixed
\u00a0
payments,
\u00a0
amounts
\u00a0
to
\u00a0
be
\u00a0
expected
\u00a0
to
\u00a0
be
\u00a0
paid
\u00a0
under
\u00a0
residual
\u00a0
value
guarantees,
\u00a0
the
\u00a0
exercise
\u00a0
price
\u00a0
of
\u00a0
reasonably
\u00a0
certain
\u00a0
extension
\u00a0
options,
\u00a0
and
\u00a0
payments
\u00a0
of
\u00a0
penalties
\u00a0
for
terminating
\u00a0
a
\u00a0
lease
\u00a0
in
\u00a0
case
\u00a0
this
\u00a0
reflects
\u00a0
the
\u00a0
lease
\u00a0
term.
\u00a0
The
\u00a0
lease
\u00a0
payments
\u00a0
are
\u00a0
discounted
\u00a0
using
\u00a0
the
interest
\u00a0
rate
\u00a0
implicit
\u00a0
in
\u00a0
the
\u00a0
lease
\u00a0
if
\u00a0
this
\u00a0
rate
\u00a0
can
\u00a0
be
\u00a0
readily
\u00a0
determined.
\u00a0
Otherwise,
\u00a0
the
\u00a0
lessee\u00b4s
\u00a0
incremental
borrowing
\u00a0
rate
\u00a0
is
\u00a0
used.
\u00a0
The
\u00a0
incremental
\u00a0
borrowing
\u00a0
rates
\u00a0
used
\u00a0
are
\u00a0
the
\u00a0
sum
\u00a0
of
\u00a0
relevant
\u00a0
interbank
\u00a0
rates
\u00a0
and
the
\u00a0
average
\u00a0
margin
\u00a0
of
\u00a0
the
\u00a0
Group
\u00a0
loan
\u00a0
portfolio
\u00a0
and
\u00a0
are
\u00a0
currency
\u00a0
specific.
The
\u00a0
initial
\u00a0
measurement
\u00a0
of
\u00a0
the
\u00a0
lease
\u00a0
payments
\u00a0
does
\u00a0
not
\u00a0
include
\u00a0
possible
\u00a0
variable
\u00a0
elements.
\u00a0
Variable
\u00a0
lease
payments
\u00a0
not
\u00a0
included
\u00a0
in
\u00a0
the
\u00a0
initial
\u00a0
measurement
\u00a0
of
\u00a0
the
\u00a0
lease
\u00a0
liability
\u00a0
are
\u00a0
recognised
\u00a0
directly
\u00a0
in
\u00a0
the
statement
\u00a0
of
\u00a0
income
\u00a0
as
\u00a0
other
\u00a0
operating
\u00a0
expenses.
The
\u00a0
lease
\u00a0
term
\u00a0
is
\u00a0
the
\u00a0
non-cancellable
\u00a0
period
\u00a0
of
\u00a0
the
\u00a0
lease
\u00a0
together
\u00a0
with
\u00a0
the
\u00a0
period
\u00a0
covered
\u00a0
by
\u00a0
an
\u00a0
option
\u00a0
to
extend
\u00a0
or
\u00a0
terminate
\u00a0
if
\u00a0
the
\u00a0
lessee
\u00a0
is
\u00a0
reasonably
\u00a0
certain
\u00a0
to
\u00a0
exercise
\u00a0
the
\u00a0
option.
Subsequently,
\u00a0
the
\u00a0
right-of-use
\u00a0
assets
\u00a0
are
\u00a0
measured
\u00a0
at
\u00a0
initial
\u00a0
measurement
\u00a0
less
\u00a0
accumulated
\u00a0
depreciation
and
\u00a0
impairment
\u00a0
losses.
\u00a0
The
\u00a0
right-of-use
\u00a0
assets
\u00a0
are
\u00a0
depreciated
\u00a0
and
\u00a0
interest
\u00a0
on
\u00a0
lease
\u00a0
liabilities
\u00a0
recognised
in
\u00a0
interest
\u00a0
expenses
\u00a0
in
\u00a0
the
\u00a0
statement
\u00a0
of
\u00a0
income
\u00a0
over
\u00a0
the
\u00a0
lease
\u00a0
term.
\u00a0
The
\u00a0
lease
\u00a0
liabilities
\u00a0
are
\u00a0
subsequently
measured
\u00a0
at
\u00a0
initial
\u00a0
recognition
\u00a0
less
\u00a0
occurring
\u00a0
lease
\u00a0
payments
\u00a0
that
\u00a0
are
\u00a0
allocated
\u00a0
to
\u00a0
the
\u00a0
principal.
Lease
\u00a0
payments
\u00a0
are
\u00a0
presented
\u00a0
as
\u00a0
repayments
\u00a0
of
\u00a0
liabilities
\u00a0
and
\u00a0
related
\u00a0
interest
\u00a0
expenses.
\u00a0
The
\u00a0
lease
payments
\u00a0
are
\u00a0
presented
\u00a0
in
\u00a0
the
\u00a0
cash
\u00a0
flow
\u00a0
from
\u00a0
financing
\u00a0
activities,
\u00a0
and
\u00a0
the
\u00a0
interest
\u00a0
related
\u00a0
to
\u00a0
leases
\u00a0
are
presented
\u00a0
in
\u00a0
the
\u00a0
cash
\u00a0
flow
\u00a0
from
\u00a0
operating
\u00a0
activities.
\u00a0
Lease
\u00a0
payments
\u00a0
related
\u00a0
to
\u00a0
short-term
\u00a0
leases,
\u00a0
low-value
assets,
\u00a0
and
\u00a0
variable
\u00a0
payments
\u00a0
are
\u00a0
presented
\u00a0
in
\u00a0
the
\u00a0
cash
\u00a0
flow
\u00a0
from
\u00a0
operating
\u00a0
activities.
Contracts
\u00a0
may
\u00a0
combine
\u00a0
different
\u00a0
kinds
\u00a0
of
\u00a0
obligations
\u00a0
to
\u00a0
the
\u00a0
supplier,
\u00a0
which
\u00a0
might
\u00a0
be
\u00a0
a
\u00a0
combination
\u00a0
of
\u00a0
lease
components
\u00a0
or
\u00a0
a
\u00a0
combination
\u00a0
of
\u00a0
lease
\u00a0
and
\u00a0
non-lease
\u00a0
components.
\u00a0
These
\u00a0
lease
\u00a0
and
\u00a0
non-lease
\u00a0
components
are
\u00a0
accounted
\u00a0
for
\u00a0
separately
\u00a0
and
\u00a0
the
\u00a0
consideration
\u00a0
is
\u00a0
allocated
\u00a0
between
\u00a0
the
\u00a0
components
\u00a0
based
\u00a0
on
\u00a0
relative
stand-alone
\u00a0
selling
\u00a0
prices.
\u00a0
Should
\u00a0
separating
\u00a0
the
\u00a0
components
\u00a0
not
\u00a0
be
\u00a0
possible,
\u00a0
judgement
\u00a0
is
\u00a0
used
\u00a0
to
allocate
\u00a0
the
\u00a0
non-lease
\u00a0
component
\u00a0
in
\u00a0
the
\u00a0
accounting.
\u00a0
The
\u00a0
selection
\u00a0
of
\u00a0
separating
\u00a0
the
\u00a0
non-lease
\u00a0
component
or
\u00a0
not
\u00a0
from
\u00a0
the
\u00a0
lease,
\u00a0
is
\u00a0
applied
\u00a0
to
\u00a0
the
\u00a0
whole
\u00a0
asset
\u00a0
class,
\u00a0
buildings,
\u00a0
and
\u00a0
machinery
\u00a0
and
\u00a0
equipment.
Modifications
\u00a0
to
\u00a0
lease
\u00a0
agreements
\u00a0
may
\u00a0
result
\u00a0
in
\u00a0
adjustments
\u00a0
to
\u00a0
existing
\u00a0
right-of-use
\u00a0
assets
\u00a0
and
\u00a0
lease
liabilities.
\u00a0
A
\u00a0
gain
\u00a0
or
\u00a0
loss
\u00a0
arising
\u00a0
from
\u00a0
a
\u00a0
modification
\u00a0
or
\u00a0
a
\u00a0
termination
\u00a0
of
\u00a0
a
\u00a0
lease
\u00a0
agreement
\u00a0
is
\u00a0
recognised
\u00a0
as
other
\u00a0
operating
\u00a0
income
\u00a0
or
\u00a0
other
\u00a0
operating
\u00a0
expenses
\u00a0
in
\u00a0
the
\u00a0
statement
\u00a0
of
\u00a0
income.
The
\u00a0
Group
\u00a0
applies
\u00a0
the
\u00a0
two
\u00a0
available
\u00a0
exemptions,
\u00a0
which
\u00a0
relate
\u00a0
to
\u00a0
either
\u00a0
short-term
\u00a0
contracts,
\u00a0
in
\u00a0
which
\u00a0
the
lease
\u00a0
term
\u00a0
is
\u00a0
less
\u00a0
than
\u00a0
12
\u00a0
months,
\u00a0
or
\u00a0
low-value
\u00a0
assets,
\u00a0
which
\u00a0
are
\u00a0
expensed
\u00a0
to
\u00a0
other
\u00a0
operating
\u00a0
expenses.
Accounting
\u00a0
estimates
\u00a0
and
\u00a0
judgements
Management
\u00a0
is
\u00a0
required
\u00a0
to
\u00a0
consider
\u00a0
the
\u00a0
duration
\u00a0
of
\u00a0
the
\u00a0
lease
\u00a0
term
\u00a0
if
\u00a0
there
\u00a0
is
\u00a0
an
\u00a0
option
\u00a0
for
\u00a0
extension,
\u00a0
early
termination
\u00a0
or
\u00a0
purchase,
\u00a0
as
\u00a0
well
\u00a0
as
\u00a0
determine
\u00a0
the
\u00a0
lease
\u00a0
term
\u00a0
for
\u00a0
agreements
\u00a0
with
\u00a0
indefinite
\u00a0
lease
\u00a0
term.
When
\u00a0
evaluating
\u00a0
the
\u00a0
probability
\u00a0
of
\u00a0
the
\u00a0
option
\u00a0
being
\u00a0
exercised
\u00a0
and,
\u00a0
therefore,
\u00a0
the
\u00a0
duration
\u00a0
of
\u00a0
the
\u00a0
lease
\u00a0
term,
management
\u00a0
considers
\u00a0
all
\u00a0
known
\u00a0
facts
\u00a0
and
\u00a0
circumstances,
\u00a0
for
\u00a0
example,
\u00a0
businesses\u2019
\u00a0
short-
\u00a0
and
\u00a0
long-term
strategies
\u00a0
that
\u00a0
create
\u00a0
a
\u00a0
financial
\u00a0
incentive
\u00a0
to
\u00a0
exercise,
\u00a0
or
\u00a0
not
\u00a0
to
\u00a0
exercise
\u00a0
the
\u00a0
option.
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
MEUR
2023
2022
Land
\u00a0
and
\u00a0
buildings,
\u00a0
right-of-use
\u00a0
assets
Carrying
\u00a0
amount
\u00a0
on
\u00a0
1
\u00a0
January
248
181
Changes
\u00a0
in
\u00a0
exchange
\u00a0
rates
-3
-1
Acquisitions
\u00a0
and
\u00a0
disposals
-3
Additions
50
118
Depreciation
\u00a0
and
\u00a0
impairment
-45
-43
Decreases
\u00a0
and
\u00a0
reclassifications
-5
-5
Carrying
\u00a0
amount
\u00a0
on
\u00a0
31
\u00a0
December
246
248
Machinery
\u00a0
and
\u00a0
equipment,
\u00a0
right
\u00a0
-of-use
\u00a0
assets
Carrying
\u00a0
amount
\u00a0
on
\u00a0
1
\u00a0
January
10
11
Additions
6
6
Depreciation
\u00a0
and
\u00a0
impairment
-6
-6
Decreases
\u00a0
and
\u00a0
reclassifications
-1
Carrying
\u00a0
amount
\u00a0
on
\u00a0
31
\u00a0
December
9
10
Lease
\u00a0
liabilities
Carrying
\u00a0
amount
\u00a0
on
\u00a0
1
\u00a0
January
266
197
Changes
\u00a0
in
\u00a0
exchange
\u00a0
rates
-2
-2
Acquisitions
\u00a0
and
\u00a0
disposals
-2
Additions
56
123
Interest
\u00a0
expenses
2
Payments
-48
-46
Other
\u00a0
adjustments
-6
-4
Carrying
\u00a0
amount
\u00a0
on
\u00a0
31
\u00a0
December
268
266
Total
\u00a0
lease
\u00a0
liabilities
Non-current
224
223
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
Current
44
43
MEUR
2023
2022
Amounts
\u00a0
recognised
\u00a0
in
\u00a0
statement
\u00a0
of
\u00a0
income
Depreciation
\u00a0
and
\u00a0
impairment
\u00a0
of
\u00a0
right-of-use
\u00a0
assets
-51
-49
Interest
\u00a0
expenses
-8
-4
Expense
\u00a0
-
\u00a0
short-term
\u00a0
leases
-31
-28
Expense
\u00a0
-
\u00a0
leases
\u00a0
of
\u00a0
low-value
\u00a0
assets
-6
-6
Expense
\u00a0
-
\u00a0
variable
\u00a0
lease
\u00a0
payments
-9
-8
The
\u00a0
lease
\u00a0
for
\u00a0
the
\u00a0
Sustainable
\u00a0
Technology
\u00a0
Hub
\u00a0
in
\u00a0
Vaasa
\u00a0
contains
\u00a0
a
\u00a0
floating
\u00a0
interest
\u00a0
rate,
\u00a0
and
\u00a0
therefore
\u00a0
the
related
\u00a0
lease
\u00a0
liability
\u00a0
is
\u00a0
remeasured
\u00a0
at
\u00a0
the
\u00a0
end
\u00a0
of
\u00a0
each
\u00a0
interest
\u00a0
period.
\u00a0
The
\u00a0
floating
\u00a0
interest
\u00a0
rate
\u00a0
is
\u00a0
partially
hedged.
The
\u00a0
residual
\u00a0
value
\u00a0
guarantees
\u00a0
related
\u00a0
to
\u00a0
the
\u00a0
Sustainable
\u00a0
Technology
\u00a0
Hub
\u00a0
that
\u00a0
are
\u00a0
not
\u00a0
considered
\u00a0
in
capitalised
\u00a0
lease
\u00a0
payments
\u00a0
are
\u00a0
disclosed
\u00a0
in
\u00a0
Note
\u00a0
7.1.
\u00a0
Collateral,
\u00a0
contingent
\u00a0
liabilities,
\u00a0
and
\u00a0
other
\u00a0
commitments.
", "dimensions": { "concept": "ifrs-full:DisclosureOfLeasesExplanatory", "language": "en", "entity": "scheme:743700G7A9J1PHM3X223", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00" } }, "ID_45": { "value": "
Accounting
\u00a0
principles
The
\u00a0
Group's
\u00a0
capitalised
\u00a0
lease
\u00a0
agreements
\u00a0
consist
\u00a0
mainly
\u00a0
of
\u00a0
land,
\u00a0
buildings
\u00a0
used
\u00a0
as
\u00a0
office
\u00a0
premises,
factories,
\u00a0
workshops,
\u00a0
vehicles,
\u00a0
and
\u00a0
production
\u00a0
machinery
\u00a0
and
\u00a0
equipment.
\u00a0
The
\u00a0
average
\u00a0
lease
\u00a0
period
\u00a0
for
buildings
\u00a0
is
\u00a0
approximately
\u00a0
eight
\u00a0
years,
\u00a0
and
\u00a0
for
\u00a0
machinery
\u00a0
and
\u00a0
equipment
\u00a0
approximately
\u00a0
four
\u00a0
years.
\u00a0
The
Group
\u00a0
recognises
\u00a0
a
\u00a0
right-of-use
\u00a0
(ROU)
\u00a0
asset
\u00a0
and
\u00a0
a
\u00a0
lease
\u00a0
liability
\u00a0
at
\u00a0
the
\u00a0
commencement
\u00a0
of
\u00a0
the
\u00a0
lease.
Whether
\u00a0
a
\u00a0
contract
\u00a0
contains
\u00a0
a
\u00a0
lease
\u00a0
is
\u00a0
determined
\u00a0
based
\u00a0
on
\u00a0
whether
\u00a0
W\u00e4rtsil\u00e4
\u00a0
has
\u00a0
the
\u00a0
right
\u00a0
to
\u00a0
control
\u00a0
the
use
\u00a0
of
\u00a0
an
\u00a0
identified
\u00a0
asset
\u00a0
for
\u00a0
a
\u00a0
period
\u00a0
of
\u00a0
time.
At
\u00a0
the
\u00a0
commencement
\u00a0
date,
\u00a0
a
\u00a0
right-of-use
\u00a0
asset
\u00a0
as
\u00a0
defined
\u00a0
by
\u00a0
IFRS
\u00a0
16
\u00a0
is
\u00a0
measured
\u00a0
at
\u00a0
cost.
\u00a0
The
\u00a0
cost
\u00a0
of
\u00a0
the
right-of-use
\u00a0
asset
\u00a0
shall
\u00a0
comprise
\u00a0
the
\u00a0
amount
\u00a0
of
\u00a0
the
\u00a0
initial
\u00a0
measurement
\u00a0
of
\u00a0
the
\u00a0
lease
\u00a0
liability,
\u00a0
any
\u00a0
lease
payments
\u00a0
made
\u00a0
at
\u00a0
or
\u00a0
before
\u00a0
the
\u00a0
commencement
\u00a0
date
\u00a0
(less
\u00a0
any
\u00a0
lease
\u00a0
incentives
\u00a0
received),
\u00a0
any
\u00a0
initial
\u00a0
direct
costs
\u00a0
incurred
\u00a0
by
\u00a0
the
\u00a0
lessee
\u00a0
and
\u00a0
an
\u00a0
estimate
\u00a0
of
\u00a0
costs
\u00a0
to
\u00a0
be
\u00a0
incurred
\u00a0
by
\u00a0
the
\u00a0
lessee
\u00a0
in
\u00a0
dismantling
\u00a0
and
removing
\u00a0
the
\u00a0
underlying
\u00a0
asset,
\u00a0
restoring
\u00a0
the
\u00a0
site
\u00a0
on
\u00a0
which
\u00a0
it
\u00a0
is
\u00a0
located
\u00a0
or
\u00a0
restoring
\u00a0
the
\u00a0
underlying
\u00a0
asset
\u00a0
to
the
\u00a0
condition
\u00a0
required
\u00a0
by
\u00a0
the
\u00a0
terms
\u00a0
and
\u00a0
conditions
\u00a0
of
\u00a0
the
\u00a0
lease,
\u00a0
unless
\u00a0
those
\u00a0
costs
\u00a0
are
\u00a0
incurred
\u00a0
to
\u00a0
produce
inventories.
\u00a0
\n
\u00a0
\n
The
\u00a0
nominal
\u00a0
lease
\u00a0
liability
\u00a0
is
\u00a0
initially
\u00a0
measured
\u00a0
at
\u00a0
the
\u00a0
present
\u00a0
value
\u00a0
of
\u00a0
the
\u00a0
lease
\u00a0
payments
\u00a0
over
\u00a0
the
\u00a0
lease
term.
\u00a0
The
\u00a0
lease
\u00a0
payments
\u00a0
include
\u00a0
fixed
\u00a0
payments,
\u00a0
amounts
\u00a0
to
\u00a0
be
\u00a0
expected
\u00a0
to
\u00a0
be
\u00a0
paid
\u00a0
under
\u00a0
residual
\u00a0
value
guarantees,
\u00a0
the
\u00a0
exercise
\u00a0
price
\u00a0
of
\u00a0
reasonably
\u00a0
certain
\u00a0
extension
\u00a0
options,
\u00a0
and
\u00a0
payments
\u00a0
of
\u00a0
penalties
\u00a0
for
terminating
\u00a0
a
\u00a0
lease
\u00a0
in
\u00a0
case
\u00a0
this
\u00a0
reflects
\u00a0
the
\u00a0
lease
\u00a0
term.
\u00a0
The
\u00a0
lease
\u00a0
payments
\u00a0
are
\u00a0
discounted
\u00a0
using
\u00a0
the
interest
\u00a0
rate
\u00a0
implicit
\u00a0
in
\u00a0
the
\u00a0
lease
\u00a0
if
\u00a0
this
\u00a0
rate
\u00a0
can
\u00a0
be
\u00a0
readily
\u00a0
determined.
\u00a0
Otherwise,
\u00a0
the
\u00a0
lessee\u00b4s
\u00a0
incremental
borrowing
\u00a0
rate
\u00a0
is
\u00a0
used.
\u00a0
The
\u00a0
incremental
\u00a0
borrowing
\u00a0
rates
\u00a0
used
\u00a0
are
\u00a0
the
\u00a0
sum
\u00a0
of
\u00a0
relevant
\u00a0
interbank
\u00a0
rates
\u00a0
and
the
\u00a0
average
\u00a0
margin
\u00a0
of
\u00a0
the
\u00a0
Group
\u00a0
loan
\u00a0
portfolio
\u00a0
and
\u00a0
are
\u00a0
currency
\u00a0
specific.
The
\u00a0
initial
\u00a0
measurement
\u00a0
of
\u00a0
the
\u00a0
lease
\u00a0
payments
\u00a0
does
\u00a0
not
\u00a0
include
\u00a0
possible
\u00a0
variable
\u00a0
elements.
\u00a0
Variable
\u00a0
lease
payments
\u00a0
not
\u00a0
included
\u00a0
in
\u00a0
the
\u00a0
initial
\u00a0
measurement
\u00a0
of
\u00a0
the
\u00a0
lease
\u00a0
liability
\u00a0
are
\u00a0
recognised
\u00a0
directly
\u00a0
in
\u00a0
the
statement
\u00a0
of
\u00a0
income
\u00a0
as
\u00a0
other
\u00a0
operating
\u00a0
expenses.
The
\u00a0
lease
\u00a0
term
\u00a0
is
\u00a0
the
\u00a0
non-cancellable
\u00a0
period
\u00a0
of
\u00a0
the
\u00a0
lease
\u00a0
together
\u00a0
with
\u00a0
the
\u00a0
period
\u00a0
covered
\u00a0
by
\u00a0
an
\u00a0
option
\u00a0
to
extend
\u00a0
or
\u00a0
terminate
\u00a0
if
\u00a0
the
\u00a0
lessee
\u00a0
is
\u00a0
reasonably
\u00a0
certain
\u00a0
to
\u00a0
exercise
\u00a0
the
\u00a0
option.
Subsequently,
\u00a0
the
\u00a0
right-of-use
\u00a0
assets
\u00a0
are
\u00a0
measured
\u00a0
at
\u00a0
initial
\u00a0
measurement
\u00a0
less
\u00a0
accumulated
\u00a0
depreciation
and
\u00a0
impairment
\u00a0
losses.
\u00a0
The
\u00a0
right-of-use
\u00a0
assets
\u00a0
are
\u00a0
depreciated
\u00a0
and
\u00a0
interest
\u00a0
on
\u00a0
lease
\u00a0
liabilities
\u00a0
recognised
in
\u00a0
interest
\u00a0
expenses
\u00a0
in
\u00a0
the
\u00a0
statement
\u00a0
of
\u00a0
income
\u00a0
over
\u00a0
the
\u00a0
lease
\u00a0
term.
\u00a0
The
\u00a0
lease
\u00a0
liabilities
\u00a0
are
\u00a0
subsequently
measured
\u00a0
at
\u00a0
initial
\u00a0
recognition
\u00a0
less
\u00a0
occurring
\u00a0
lease
\u00a0
payments
\u00a0
that
\u00a0
are
\u00a0
allocated
\u00a0
to
\u00a0
the
\u00a0
principal.
Lease
\u00a0
payments
\u00a0
are
\u00a0
presented
\u00a0
as
\u00a0
repayments
\u00a0
of
\u00a0
liabilities
\u00a0
and
\u00a0
related
\u00a0
interest
\u00a0
expenses.
\u00a0
The
\u00a0
lease
payments
\u00a0
are
\u00a0
presented
\u00a0
in
\u00a0
the
\u00a0
cash
\u00a0
flow
\u00a0
from
\u00a0
financing
\u00a0
activities,
\u00a0
and
\u00a0
the
\u00a0
interest
\u00a0
related
\u00a0
to
\u00a0
leases
\u00a0
are
presented
\u00a0
in
\u00a0
the
\u00a0
cash
\u00a0
flow
\u00a0
from
\u00a0
operating
\u00a0
activities.
\u00a0
Lease
\u00a0
payments
\u00a0
related
\u00a0
to
\u00a0
short-term
\u00a0
leases,
\u00a0
low-value
assets,
\u00a0
and
\u00a0
variable
\u00a0
payments
\u00a0
are
\u00a0
presented
\u00a0
in
\u00a0
the
\u00a0
cash
\u00a0
flow
\u00a0
from
\u00a0
operating
\u00a0
activities.
Contracts
\u00a0
may
\u00a0
combine
\u00a0
different
\u00a0
kinds
\u00a0
of
\u00a0
obligations
\u00a0
to
\u00a0
the
\u00a0
supplier,
\u00a0
which
\u00a0
might
\u00a0
be
\u00a0
a
\u00a0
combination
\u00a0
of
\u00a0
lease
components
\u00a0
or
\u00a0
a
\u00a0
combination
\u00a0
of
\u00a0
lease
\u00a0
and
\u00a0
non-lease
\u00a0
components.
\u00a0
These
\u00a0
lease
\u00a0
and
\u00a0
non-lease
\u00a0
components
are
\u00a0
accounted
\u00a0
for
\u00a0
separately
\u00a0
and
\u00a0
the
\u00a0
consideration
\u00a0
is
\u00a0
allocated
\u00a0
between
\u00a0
the
\u00a0
components
\u00a0
based
\u00a0
on
\u00a0
relative
stand-alone
\u00a0
selling
\u00a0
prices.
\u00a0
Should
\u00a0
separating
\u00a0
the
\u00a0
components
\u00a0
not
\u00a0
be
\u00a0
possible,
\u00a0
judgement
\u00a0
is
\u00a0
used
\u00a0
to
allocate
\u00a0
the
\u00a0
non-lease
\u00a0
component
\u00a0
in
\u00a0
the
\u00a0
accounting.
\u00a0
The
\u00a0
selection
\u00a0
of
\u00a0
separating
\u00a0
the
\u00a0
non-lease
\u00a0
component
or
\u00a0
not
\u00a0
from
\u00a0
the
\u00a0
lease,
\u00a0
is
\u00a0
applied
\u00a0
to
\u00a0
the
\u00a0
whole
\u00a0
asset
\u00a0
class,
\u00a0
buildings,
\u00a0
and
\u00a0
machinery
\u00a0
and
\u00a0
equipment.
Modifications
\u00a0
to
\u00a0
lease
\u00a0
agreements
\u00a0
may
\u00a0
result
\u00a0
in
\u00a0
adjustments
\u00a0
to
\u00a0
existing
\u00a0
right-of-use
\u00a0
assets
\u00a0
and
\u00a0
lease
liabilities.
\u00a0
A
\u00a0
gain
\u00a0
or
\u00a0
loss
\u00a0
arising
\u00a0
from
\u00a0
a
\u00a0
modification
\u00a0
or
\u00a0
a
\u00a0
termination
\u00a0
of
\u00a0
a
\u00a0
lease
\u00a0
agreement
\u00a0
is
\u00a0
recognised
\u00a0
as
other
\u00a0
operating
\u00a0
income
\u00a0
or
\u00a0
other
\u00a0
operating
\u00a0
expenses
\u00a0
in
\u00a0
the
\u00a0
statement
\u00a0
of
\u00a0
income.
The
\u00a0
Group
\u00a0
applies
\u00a0
the
\u00a0
two
\u00a0
available
\u00a0
exemptions,
\u00a0
which
\u00a0
relate
\u00a0
to
\u00a0
either
\u00a0
short-term
\u00a0
contracts,
\u00a0
in
\u00a0
which
\u00a0
the
lease
\u00a0
term
\u00a0
is
\u00a0
less
\u00a0
than
\u00a0
12
\u00a0
months,
\u00a0
or
\u00a0
low-value
\u00a0
assets,
\u00a0
which
\u00a0
are
\u00a0
expensed
\u00a0
to
\u00a0
other
\u00a0
operating
\u00a0
expenses.
", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForLeasesExplanatory", "language": "en", "entity": "scheme:743700G7A9J1PHM3X223", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00" } }, "ID_46": { "value": "
3.5.
\u00a0
DEPRECIATION,
\u00a0
AMORTISATION
\u00a0
AND
\u00a0
IMPAIRMENT
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
MEUR
2023
2022
Development
\u00a0
expenses
18
18
Purchase
\u00a0
price
\u00a0
allocation
\u00a0
amortisation
20
23
Other
\u00a0
intangible
\u00a0
assets
7
8
Buildings
\u00a0
and
\u00a0
structures
8
9
Land
\u00a0
and
\u00a0
buildings,
\u00a0
right-of
\u00a0
-use
\u00a0
assets
44
43
Machinery
\u00a0
and
\u00a0
equipment
32
33
Machinery
\u00a0
and
\u00a0
equipment,
\u00a0
right
\u00a0
-of-use
\u00a0
assets
6
6
Other
\u00a0
tangible
\u00a0
assets
2
2
Impairment
56
120
Total
193
263
", "dimensions": { "concept": "ifrs-full:DisclosureOfDepreciationAndAmortisationExpenseExplanatory", "language": "en", "entity": "scheme:743700G7A9J1PHM3X223", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00" } }, "ID_47": { "value": "
\u00a0
\n
\u00a0
\n
4.1.
\u00a0
INVENTORIES
Accounting
\u00a0
principles
Inventories
\u00a0
are
\u00a0
valued
\u00a0
at
\u00a0
the
\u00a0
lower
\u00a0
of
\u00a0
cost
\u00a0
and
\u00a0
net
\u00a0
realisable
\u00a0
value.
Net
\u00a0
realisable
\u00a0
value
\u00a0
is
\u00a0
the
\u00a0
estimated
selling
\u00a0
price
\u00a0
in
\u00a0
the
\u00a0
ordinary
\u00a0
course
\u00a0
of
\u00a0
business,
\u00a0
less
\u00a0
the
\u00a0
estimated
\u00a0
costs
\u00a0
of
\u00a0
completion
\u00a0
and
\u00a0
costs
\u00a0
necessary
to
\u00a0
make
\u00a0
the
\u00a0
sale.
Materials
\u00a0
and
\u00a0
consumables
\u00a0
are
\u00a0
valued
\u00a0
at
\u00a0
weighted
\u00a0
average
\u00a0
cost
\u00a0
or
\u00a0
at
\u00a0
moving
\u00a0
average
\u00a0
price.
\u00a0
Finished
products
\u00a0
are
\u00a0
valued
\u00a0
at
\u00a0
direct
\u00a0
purchasing
\u00a0
and
\u00a0
manufacturing
\u00a0
costs
\u00a0
plus
\u00a0
allocated
\u00a0
purchasing
\u00a0
and
manufacturing
\u00a0
overhead
\u00a0
costs.
\u00a0
Work
\u00a0
in
\u00a0
progress
\u00a0
includes
\u00a0
costs
\u00a0
for
\u00a0
direct
\u00a0
labour
\u00a0
and
\u00a0
material
\u00a0
costs,
\u00a0
and
allocated
\u00a0
overhead
\u00a0
costs
\u00a0
related
\u00a0
to
\u00a0
manufacturing
\u00a0
and
\u00a0
purchasing
\u00a0
when
\u00a0
control
\u00a0
has
\u00a0
not
\u00a0
yet
\u00a0
been
transferred
\u00a0
to
\u00a0
the
\u00a0
customer.
Inventories
\u00a0
are
\u00a0
presented
\u00a0
net
\u00a0
of
\u00a0
provision
\u00a0
for
\u00a0
obsolete
\u00a0
inventories.
Accounting
\u00a0
estimates
\u00a0
and
\u00a0
judgements
Valuation
\u00a0
of
\u00a0
inventory,
\u00a0
mainly
\u00a0
concerning
\u00a0
obsolete
\u00a0
stock
\u00a0
and
\u00a0
future
\u00a0
selling
\u00a0
price
\u00a0
of
\u00a0
stock
\u00a0
items,
\u00a0
requires
management
\u00a0
judgement.
Writing
\u00a0
down
\u00a0
inventories
\u00a0
to
\u00a0
net
\u00a0
realisable
\u00a0
value
\u00a0
due
\u00a0
to
\u00a0
obsolete
\u00a0
and
\u00a0
excess
\u00a0
stock,
is
\u00a0
performed
\u00a0
based
\u00a0
on
\u00a0
management\u2019s
\u00a0
best
\u00a0
estimate
\u00a0
at
\u00a0
the
\u00a0
end
\u00a0
of
\u00a0
the
\u00a0
reporting
\u00a0
period
\u00a0
taking
\u00a0
into
consideration
\u00a0
the
\u00a0
business
\u00a0
and
\u00a0
market
\u00a0
specific
\u00a0
circumstances
\u00a0
and
\u00a0
outlook.
A
\u00a0
systematic
\u00a0
and
\u00a0
continuous
evaluation
\u00a0
of
\u00a0
inventory
\u00a0
ageing,
\u00a0
turn-over,
\u00a0
and
\u00a0
composition
\u00a0
compared
\u00a0
to
\u00a0
anticipated
\u00a0
future
\u00a0
use,
\u00a0
is
\u00a0
the
\u00a0
basis
for
\u00a0
the
\u00a0
estimates
.
MEUR
2023
2022
Materials
\u00a0
and
\u00a0
consumables
708
699
Work
\u00a0
in
\u00a0
progress
656
559
Finished
\u00a0
products
40
40
Advances
\u00a0
paid
\u00a0
81
63
Total
1
\u00a0
485
1
\u00a0
361
In
\u00a0
2023,
\u00a0
EUR
\u00a0
6
\u00a0
million
\u00a0
(49)
\u00a0
impairment
\u00a0
for
\u00a0
obsolete
\u00a0
inventories
\u00a0
has
\u00a0
been
\u00a0
recognised
\u00a0
in
\u00a0
the
\u00a0
statement
\u00a0
of
income.
\u00a0
In
\u00a0
2022,
\u00a0
the
\u00a0
total
\u00a0
value
\u00a0
of
\u00a0
inventories
\u00a0
related
\u00a0
to
\u00a0
assets
\u00a0
held
\u00a0
for
\u00a0
sale
\u00a0
amounted
\u00a0
to
\u00a0
EUR
\u00a0
1
\u00a0
million
.
", "dimensions": { "concept": "ifrs-full:DisclosureOfInventoriesExplanatory", "language": "en", "entity": "scheme:743700G7A9J1PHM3X223", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00" } }, "ID_48": { "value": "
Accounting
\u00a0
principles
Inventories
\u00a0
are
\u00a0
valued
\u00a0
at
\u00a0
the
\u00a0
lower
\u00a0
of
\u00a0
cost
\u00a0
and
\u00a0
net
\u00a0
realisable
\u00a0
value.
Net
\u00a0
realisable
\u00a0
value
\u00a0
is
\u00a0
the
\u00a0
estimated
selling
\u00a0
price
\u00a0
in
\u00a0
the
\u00a0
ordinary
\u00a0
course
\u00a0
of
\u00a0
business,
\u00a0
less
\u00a0
the
\u00a0
estimated
\u00a0
costs
\u00a0
of
\u00a0
completion
\u00a0
and
\u00a0
costs
\u00a0
necessary
to
\u00a0
make
\u00a0
the
\u00a0
sale.
Materials
\u00a0
and
\u00a0
consumables
\u00a0
are
\u00a0
valued
\u00a0
at
\u00a0
weighted
\u00a0
average
\u00a0
cost
\u00a0
or
\u00a0
at
\u00a0
moving
\u00a0
average
\u00a0
price.
\u00a0
Finished
products
\u00a0
are
\u00a0
valued
\u00a0
at
\u00a0
direct
\u00a0
purchasing
\u00a0
and
\u00a0
manufacturing
\u00a0
costs
\u00a0
plus
\u00a0
allocated
\u00a0
purchasing
\u00a0
and
manufacturing
\u00a0
overhead
\u00a0
costs.
\u00a0
Work
\u00a0
in
\u00a0
progress
\u00a0
includes
\u00a0
costs
\u00a0
for
\u00a0
direct
\u00a0
labour
\u00a0
and
\u00a0
material
\u00a0
costs,
\u00a0
and
allocated
\u00a0
overhead
\u00a0
costs
\u00a0
related
\u00a0
to
\u00a0
manufacturing
\u00a0
and
\u00a0
purchasing
\u00a0
when
\u00a0
control
\u00a0
has
\u00a0
not
\u00a0
yet
\u00a0
been
transferred
\u00a0
to
\u00a0
the
\u00a0
customer.
Inventories
\u00a0
are
\u00a0
presented
\u00a0
net
\u00a0
of
\u00a0
provision
\u00a0
for
\u00a0
obsolete
\u00a0
inventories.
", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForMeasuringInventories", "language": "en", "entity": "scheme:743700G7A9J1PHM3X223", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00" } }, "ID_49": { "value": "
4.2.
\u00a0
TRADE
\u00a0
RECEIVABLES
\u00a0
AND
\u00a0
CONTRACT
\u00a0
ASSETS
\u00a0
AND
\u00a0
LIABILITIES
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
Accounting
\u00a0
principles
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
Trade
\u00a0
receivables
\u00a0
are
\u00a0
recognised
\u00a0
when
\u00a0
the
\u00a0
right
\u00a0
to
\u00a0
consideration
\u00a0
becomes
\u00a0
unconditional.
\u00a0
The
\u00a0
Group\u2019s
trade
\u00a0
receivables
\u00a0
are
\u00a0
measured
\u00a0
at
\u00a0
amortised
\u00a0
cost,
\u00a0
which
\u00a0
is
\u00a0
the
\u00a0
original
\u00a0
invoiced
\u00a0
amount
\u00a0
less
\u00a0
an
\u00a0
estimated
valuation
\u00a0
allowance
\u00a0
for
\u00a0
impairment.
\u00a0
The
\u00a0
Group
\u00a0
assesses
\u00a0
any
\u00a0
possible
\u00a0
increase
\u00a0
in
\u00a0
the
\u00a0
credit
\u00a0
risk
\u00a0
for
\u00a0
trade
receivables
\u00a0
and
\u00a0
contract
\u00a0
assets
\u00a0
measured
\u00a0
at
\u00a0
amortised
\u00a0
cost
\u00a0
at
\u00a0
the
\u00a0
end
\u00a0
of
\u00a0
each
\u00a0
reporting
\u00a0
period
\u00a0
individually.
The
\u00a0
methodology
\u00a0
applied
\u00a0
depends
\u00a0
on
\u00a0
whether
\u00a0
there
\u00a0
has
\u00a0
been
\u00a0
a
\u00a0
significant
\u00a0
increase
\u00a0
in
\u00a0
credit
\u00a0
risk.
\u00a0
If
\u00a0
there
has
\u00a0
been
\u00a0
a
\u00a0
significant
\u00a0
increase
\u00a0
in
\u00a0
credit
\u00a0
risk,
\u00a0
the
\u00a0
loss
\u00a0
allowance
\u00a0
is
\u00a0
estimated
\u00a0
at
\u00a0
an
\u00a0
amount
\u00a0
equal
\u00a0
to
\u00a0
lifetime
expected
\u00a0
credit
\u00a0
losses
\u00a0
at
\u00a0
the
\u00a0
end
\u00a0
of
\u00a0
the
\u00a0
reporting
\u00a0
period.
For
\u00a0
trade
\u00a0
receivables
\u00a0
and
\u00a0
contract
\u00a0
assets,
\u00a0
a
\u00a0
simplified
\u00a0
approach
\u00a0
is
\u00a0
used,
\u00a0
and
\u00a0
the
\u00a0
loss
\u00a0
allowance
\u00a0
is
measured
\u00a0
at
\u00a0
the
\u00a0
estimate
\u00a0
of
\u00a0
the
\u00a0
lifetime
\u00a0
expected
\u00a0
credit
\u00a0
losses.
\u00a0
The
\u00a0
Group
\u00a0
uses
\u00a0
a
\u00a0
provision
\u00a0
matrix
\u00a0
for
estimating
\u00a0
the
\u00a0
expected
\u00a0
credit
\u00a0
loss
\u00a0
where
\u00a0
receivables
\u00a0
are
\u00a0
segregated
\u00a0
depending
\u00a0
on
\u00a0
the
\u00a0
ageing
\u00a0
category
and
\u00a0
the
\u00a0
origin
\u00a0
of
\u00a0
the
\u00a0
receivable.
\u00a0
The
\u00a0
Group
\u00a0
has
\u00a0
an
\u00a0
effective
\u00a0
collection
\u00a0
process
\u00a0
in
\u00a0
place
\u00a0
which
\u00a0
decreases
\u00a0
the
possible
\u00a0
risk
\u00a0
of
\u00a0
credit
\u00a0
losses.
\u00a0
Also,
\u00a0
to
\u00a0
mitigate
\u00a0
the
\u00a0
credit
\u00a0
risk,
\u00a0
advance
\u00a0
payments
\u00a0
and
\u00a0
payment
\u00a0
guarantees
are
\u00a0
in
\u00a0
use.
\u00a0
In
\u00a0
calculating
\u00a0
the
\u00a0
expected
\u00a0
credit
\u00a0
loss
\u00a0
rates,
\u00a0
the
\u00a0
Group
\u00a0
considers
\u00a0
historical
\u00a0
loss
\u00a0
rates
\u00a0
for
\u00a0
each
category,
\u00a0
and
\u00a0
adjusts
\u00a0
for
\u00a0
forward
\u00a0
looking
\u00a0
macroeconomic
\u00a0
data.
\u00a0
Based
\u00a0
on
\u00a0
the
\u00a0
analysis,
\u00a0
for
\u00a0
trade
\u00a0
receivables
not
\u00a0
due,
\u00a0
or
\u00a0
a
\u00a0
maximum
\u00a0
of
\u00a0
359
\u00a0
days
\u00a0
overdue,
\u00a0
as
\u00a0
well
\u00a0
as
\u00a0
contract
\u00a0
assets,
\u00a0
an
\u00a0
impairment
\u00a0
of
\u00a0
0.1%-2.0%
\u00a0
is
made.
\u00a0
In
\u00a0
addition
\u00a0
to
\u00a0
that,
\u00a0
trade
\u00a0
receivables
\u00a0
more
\u00a0
than
\u00a0
360
\u00a0
days
\u00a0
old
\u00a0
are
\u00a0
assessed
\u00a0
individually
\u00a0
for
impairment.
\u00a0
Examples
\u00a0
of
\u00a0
events
\u00a0
giving
\u00a0
rise
\u00a0
to
\u00a0
impairment
\u00a0
include
\u00a0
debtor\u2019s
\u00a0
serious
\u00a0
financial
\u00a0
problems,
\u00a0
and
\u00a0
a
debtor\u2019s
\u00a0
probable
\u00a0
bankruptcy
\u00a0
or
\u00a0
other
\u00a0
financial
\u00a0
arrangement.
Trade
\u00a0
receivables
\u00a0
are
\u00a0
permanently
\u00a0
written
\u00a0
off
\u00a0
when
\u00a0
there
\u00a0
is
\u00a0
no
\u00a0
reasonable
\u00a0
expectation
\u00a0
of
\u00a0
recovery.
The
\u00a0
Group
\u00a0
may
\u00a0
sell
\u00a0
undivided
\u00a0
interests
\u00a0
in
\u00a0
trade
\u00a0
receivables
\u00a0
on
\u00a0
an
\u00a0
ongoing
\u00a0
and
\u00a0
one-time
\u00a0
basis
\u00a0
to
\u00a0
lending
institutions.
\u00a0
Financial
\u00a0
assets
\u00a0
sold
\u00a0
under
\u00a0
these
\u00a0
arrangements
\u00a0
are
\u00a0
excluded
\u00a0
from
\u00a0
trade
\u00a0
receivables
\u00a0
in
\u00a0
the
statement
\u00a0
of
\u00a0
financial
\u00a0
position
\u00a0
at
\u00a0
the
\u00a0
time
\u00a0
of
\u00a0
payment
\u00a0
from
\u00a0
the
\u00a0
acquirer,
\u00a0
providing
\u00a0
that
\u00a0
substantially
\u00a0
all
\u00a0
risks
and
\u00a0
rewards
\u00a0
have
\u00a0
been
\u00a0
transferred.
\u00a0
If
\u00a0
the
\u00a0
acquirer
\u00a0
has
\u00a0
not
\u00a0
settled
\u00a0
payment
\u00a0
to
\u00a0
the
\u00a0
extent
\u00a0
that
\u00a0
the
\u00a0
ownership,
risk,
\u00a0
and
\u00a0
control
\u00a0
over
\u00a0
the
\u00a0
receivable
\u00a0
have
\u00a0
been
\u00a0
substantially
\u00a0
transferred,
\u00a0
then
\u00a0
such
\u00a0
financial
\u00a0
assets
\u00a0
sold
\u00a0
are
re-recognised
\u00a0
in
\u00a0
the
\u00a0
statement
\u00a0
of
\u00a0
financial
\u00a0
position
\u00a0
at
\u00a0
the
\u00a0
end
\u00a0
of
\u00a0
the
\u00a0
reporting
\u00a0
period.
Contract
\u00a0
assets
\u00a0
and
\u00a0
liabilities
\u00a0
are
\u00a0
related
\u00a0
to
\u00a0
contracts
\u00a0
with
\u00a0
customers.
When
\u00a0
control
\u00a0
over
\u00a0
goods
\u00a0
or
\u00a0
services
\u00a0
is
\u00a0
transferred
\u00a0
to
\u00a0
a
\u00a0
customer
\u00a0
before
\u00a0
the
\u00a0
customer
\u00a0
pays
\u00a0
the
consideration,
\u00a0
the
\u00a0
receivable
\u00a0
is
\u00a0
recognised
\u00a0
as
\u00a0
a
\u00a0
contract
\u00a0
asset.
\u00a0
The
\u00a0
contract
\u00a0
asset
\u00a0
represents
\u00a0
the
\u00a0
right
\u00a0
to
\u00a0
a
future
\u00a0
consideration.
\u00a0
Contract
\u00a0
assets
\u00a0
primarily
\u00a0
relate
\u00a0
to
\u00a0
the
\u00a0
Group\u2019s
\u00a0
right
\u00a0
to
\u00a0
consideration
\u00a0
for
\u00a0
transferred
goods
\u00a0
or
\u00a0
services,
\u00a0
but
\u00a0
which
\u00a0
are
\u00a0
not
\u00a0
yet
\u00a0
invoiced
\u00a0
at
\u00a0
the
\u00a0
end
\u00a0
of
\u00a0
the
\u00a0
reporting
\u00a0
period.
\u00a0
The
\u00a0
contract
\u00a0
assets
\u00a0
are
transferred
\u00a0
to
\u00a0
trade
\u00a0
receivables
\u00a0
when
\u00a0
the
\u00a0
rights
\u00a0
become
\u00a0
unconditional.
When
\u00a0
the
\u00a0
customer
\u00a0
pays
\u00a0
consideration
\u00a0
in
\u00a0
advance,
\u00a0
or
\u00a0
when
\u00a0
the
\u00a0
consideration
\u00a0
is
\u00a0
due
\u00a0
before
\u00a0
transferring
\u00a0
the
contractual
\u00a0
performance
\u00a0
obligation,
\u00a0
the
\u00a0
amount
\u00a0
received
\u00a0
in
\u00a0
advance
\u00a0
is
\u00a0
presented
\u00a0
as
\u00a0
a
\u00a0
contract
\u00a0
liability.
Contract
\u00a0
liabilities
\u00a0
include
\u00a0
advances
\u00a0
received
\u00a0
(payments
\u00a0
received
\u00a0
in
\u00a0
advance)
\u00a0
and
\u00a0
deferred
\u00a0
revenue
(invoicing
\u00a0
in
\u00a0
excess
\u00a0
of
\u00a0
revenue
\u00a0
recognised).
\u00a0
Contract
\u00a0
liabilities
\u00a0
are
\u00a0
recognised
\u00a0
as
\u00a0
revenue
\u00a0
when
\u00a0
the
\u00a0
Group
performs
\u00a0
under
\u00a0
the
\u00a0
contract.
Accounting
\u00a0
estimates
\u00a0
and
\u00a0
judgements
Estimated
\u00a0
expected
\u00a0
credit
\u00a0
loss
\u00a0
provisions
\u00a0
are
\u00a0
based
\u00a0
on
\u00a0
management\u2019s
\u00a0
best
\u00a0
judgement.
\u00a0
Management
judgement
\u00a0
includes
\u00a0
past
\u00a0
years\u2019
\u00a0
experience
\u00a0
and
\u00a0
a
\u00a0
forward-looking
\u00a0
understanding
\u00a0
of
\u00a0
the
\u00a0
client\u2019s
\u00a0
payment
behaviour
\u00a0
and
\u00a0
economic
\u00a0
situation.
\u00a0
In
\u00a0
addition,
\u00a0
assessing
\u00a0
whether
\u00a0
it
\u00a0
is
\u00a0
probable
\u00a0
that
\u00a0
the
\u00a0
consideration
\u00a0
from
contracts
\u00a0
with
\u00a0
customers
\u00a0
will
\u00a0
be
\u00a0
collected
\u00a0
requires
\u00a0
judgement,
\u00a0
and
\u00a0
might
\u00a0
impact
\u00a0
the
\u00a0
timing
\u00a0
and
\u00a0
amount
\u00a0
of
revenue
\u00a0
recognition.
Contract
\u00a0
assets
\u00a0
and
\u00a0
liabilities
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
MEUR
2023
2022
Trade
\u00a0
receivables
993
1
\u00a0
113
Contract
\u00a0
assets
630
729
Contract
\u00a0
liabilities
Advances
\u00a0
received
774
527
Deferred
\u00a0
income
886
678
Trade
\u00a0
receivables
\u00a0
and
\u00a0
contract
\u00a0
assets
Non-current
2
11
Current
1
\u00a0
622
1
\u00a0
832
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
Contract
\u00a0
liabilities
Non-current
126
60
Current
1
\u00a0
534
1
\u00a0
145
Revenue
\u00a0
recognised
\u00a0
in
\u00a0
the
\u00a0
financial
\u00a0
period
\u00a0
that
\u00a0
was
\u00a0
included
\u00a0
in
\u00a0
the
\u00a0
contract
\u00a0
liability
\u00a0
on
\u00a0
1
January
1
\u00a0
145
1
\u00a0
231
Unsatisfied
\u00a0
performance
\u00a0
obligations,
\u00a0
all
\u00a0
revenue
\u00a0
types
8
\u00a0
487
7
\u00a0
493
of
\u00a0
which
\u00a0
remaining
\u00a0
performance
\u00a0
obligations
\u00a0
from
\u00a0
projects
\u00a0
and
\u00a0
contracts
\u00a0
under
execution
5
\u00a0
126
4
\u00a0
205
The
\u00a0
contract
\u00a0
assets
\u00a0
and
\u00a0
liabilities
\u00a0
arise
\u00a0
from
\u00a0
long-term
\u00a0
agreements
\u00a0
and
\u00a0
projects
\u00a0
recognised
\u00a0
over
\u00a0
time,
\u00a0
such
\u00a0
as
gas
\u00a0
solutions
\u00a0
construction
\u00a0
contracts,
\u00a0
integrated
\u00a0
solutions
\u00a0
projects,
\u00a0
and
\u00a0
energy
\u00a0
solutions
\u00a0
turnkey
\u00a0
contracts.
EUR
\u00a0
4,208
\u00a0
million
\u00a0
(3,871)
\u00a0
of
\u00a0
unsatisfied
\u00a0
performance
\u00a0
obligations
\u00a0
is
\u00a0
expected
\u00a0
to
\u00a0
be
\u00a0
recognised
\u00a0
during
\u00a0
next
year,
\u00a0
and
\u00a0
the
\u00a0
remaining
\u00a0
later.
Ageing
\u00a0
of
\u00a0
trade
\u00a0
receivables
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
-
2023
2022
MEUR
Trade
\u00a0
receivables
of
\u00a0
which
\u00a0
impaired
Trade
\u00a0
receivables
of
\u00a0
which
\u00a0
impaired
Not
\u00a0
past
\u00a0
due
706
3
779
3
Past
\u00a0
due
\u00a0
1\u201330
\u00a0
days
139
0
170
Past
\u00a0
due
\u00a0
31\u2013180
\u00a0
days
129
1
117
1
Past
\u00a0
due
\u00a0
181\u2013360
\u00a0
days
15
1
53
3
Past
\u00a0
due
\u00a0
1
\u00a0
year
62
53
81
79
Total
1
\u00a0
050
57
1
\u00a0
201
87
In
\u00a0
2023,
\u00a0
the
\u00a0
result
\u00a0
impact
\u00a0
of
\u00a0
write-offs
\u00a0
was
\u00a0
EUR
\u00a0
-6
\u00a0
million
\u00a0
(-2).
Impairment
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
MEUR
2023
2022
Impairment
\u00a0
on
\u00a0
1
\u00a0
January
87
79
Money
\u00a0
received
-33
-8
Increase
\u00a0
in
\u00a0
loss
\u00a0
allowance
\u00a0
recognised
10
19
Receivables
\u00a0
written
\u00a0
off
\u00a0
during
\u00a0
the
\u00a0
financial
\u00a0
period
\u00a0
as
\u00a0
uncollectible
-6
-2
Impairment
\u00a0
on
\u00a0
31
\u00a0
December
57
87
The
\u00a0
Group
\u00a0
sells
\u00a0
trade
\u00a0
receivables
\u00a0
in
\u00a0
an
\u00a0
amount
\u00a0
that
\u00a0
is
\u00a0
currently
\u00a0
not
\u00a0
significant
\u00a0
compared
\u00a0
to
\u00a0
the
\u00a0
trade
receivables
\u00a0
as
\u00a0
a
\u00a0
whole.
\u00a0
Sold
\u00a0
receivables
\u00a0
have
\u00a0
been
\u00a0
de-recognised
\u00a0
in
\u00a0
the
\u00a0
statement
\u00a0
of
\u00a0
financial
\u00a0
position.
", "dimensions": { "concept": "ifrs-full:DisclosureOfTradeAndOtherReceivablesExplanatory", "language": "en", "entity": "scheme:743700G7A9J1PHM3X223", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00" } }, "ID_50": { "value": "
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
Accounting
\u00a0
principles
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
Trade
\u00a0
receivables
\u00a0
are
\u00a0
recognised
\u00a0
when
\u00a0
the
\u00a0
right
\u00a0
to
\u00a0
consideration
\u00a0
becomes
\u00a0
unconditional.
\u00a0
The
\u00a0
Group\u2019s
trade
\u00a0
receivables
\u00a0
are
\u00a0
measured
\u00a0
at
\u00a0
amortised
\u00a0
cost,
\u00a0
which
\u00a0
is
\u00a0
the
\u00a0
original
\u00a0
invoiced
\u00a0
amount
\u00a0
less
\u00a0
an
\u00a0
estimated
valuation
\u00a0
allowance
\u00a0
for
\u00a0
impairment.
\u00a0
The
\u00a0
Group
\u00a0
assesses
\u00a0
any
\u00a0
possible
\u00a0
increase
\u00a0
in
\u00a0
the
\u00a0
credit
\u00a0
risk
\u00a0
for
\u00a0
trade
receivables
\u00a0
and
\u00a0
contract
\u00a0
assets
\u00a0
measured
\u00a0
at
\u00a0
amortised
\u00a0
cost
\u00a0
at
\u00a0
the
\u00a0
end
\u00a0
of
\u00a0
each
\u00a0
reporting
\u00a0
period
\u00a0
individually.
The
\u00a0
methodology
\u00a0
applied
\u00a0
depends
\u00a0
on
\u00a0
whether
\u00a0
there
\u00a0
has
\u00a0
been
\u00a0
a
\u00a0
significant
\u00a0
increase
\u00a0
in
\u00a0
credit
\u00a0
risk.
\u00a0
If
\u00a0
there
has
\u00a0
been
\u00a0
a
\u00a0
significant
\u00a0
increase
\u00a0
in
\u00a0
credit
\u00a0
risk,
\u00a0
the
\u00a0
loss
\u00a0
allowance
\u00a0
is
\u00a0
estimated
\u00a0
at
\u00a0
an
\u00a0
amount
\u00a0
equal
\u00a0
to
\u00a0
lifetime
expected
\u00a0
credit
\u00a0
losses
\u00a0
at
\u00a0
the
\u00a0
end
\u00a0
of
\u00a0
the
\u00a0
reporting
\u00a0
period.
For
\u00a0
trade
\u00a0
receivables
\u00a0
and
\u00a0
contract
\u00a0
assets,
\u00a0
a
\u00a0
simplified
\u00a0
approach
\u00a0
is
\u00a0
used,
\u00a0
and
\u00a0
the
\u00a0
loss
\u00a0
allowance
\u00a0
is
measured
\u00a0
at
\u00a0
the
\u00a0
estimate
\u00a0
of
\u00a0
the
\u00a0
lifetime
\u00a0
expected
\u00a0
credit
\u00a0
losses.
\u00a0
The
\u00a0
Group
\u00a0
uses
\u00a0
a
\u00a0
provision
\u00a0
matrix
\u00a0
for
estimating
\u00a0
the
\u00a0
expected
\u00a0
credit
\u00a0
loss
\u00a0
where
\u00a0
receivables
\u00a0
are
\u00a0
segregated
\u00a0
depending
\u00a0
on
\u00a0
the
\u00a0
ageing
\u00a0
category
and
\u00a0
the
\u00a0
origin
\u00a0
of
\u00a0
the
\u00a0
receivable.
\u00a0
The
\u00a0
Group
\u00a0
has
\u00a0
an
\u00a0
effective
\u00a0
collection
\u00a0
process
\u00a0
in
\u00a0
place
\u00a0
which
\u00a0
decreases
\u00a0
the
possible
\u00a0
risk
\u00a0
of
\u00a0
credit
\u00a0
losses.
\u00a0
Also,
\u00a0
to
\u00a0
mitigate
\u00a0
the
\u00a0
credit
\u00a0
risk,
\u00a0
advance
\u00a0
payments
\u00a0
and
\u00a0
payment
\u00a0
guarantees
are
\u00a0
in
\u00a0
use.
\u00a0
In
\u00a0
calculating
\u00a0
the
\u00a0
expected
\u00a0
credit
\u00a0
loss
\u00a0
rates,
\u00a0
the
\u00a0
Group
\u00a0
considers
\u00a0
historical
\u00a0
loss
\u00a0
rates
\u00a0
for
\u00a0
each
category,
\u00a0
and
\u00a0
adjusts
\u00a0
for
\u00a0
forward
\u00a0
looking
\u00a0
macroeconomic
\u00a0
data.
\u00a0
Based
\u00a0
on
\u00a0
the
\u00a0
analysis,
\u00a0
for
\u00a0
trade
\u00a0
receivables
not
\u00a0
due,
\u00a0
or
\u00a0
a
\u00a0
maximum
\u00a0
of
\u00a0
359
\u00a0
days
\u00a0
overdue,
\u00a0
as
\u00a0
well
\u00a0
as
\u00a0
contract
\u00a0
assets,
\u00a0
an
\u00a0
impairment
\u00a0
of
\u00a0
0.1%-2.0%
\u00a0
is
made.
\u00a0
In
\u00a0
addition
\u00a0
to
\u00a0
that,
\u00a0
trade
\u00a0
receivables
\u00a0
more
\u00a0
than
\u00a0
360
\u00a0
days
\u00a0
old
\u00a0
are
\u00a0
assessed
\u00a0
individually
\u00a0
for
impairment.
\u00a0
Examples
\u00a0
of
\u00a0
events
\u00a0
giving
\u00a0
rise
\u00a0
to
\u00a0
impairment
\u00a0
include
\u00a0
debtor\u2019s
\u00a0
serious
\u00a0
financial
\u00a0
problems,
\u00a0
and
\u00a0
a
debtor\u2019s
\u00a0
probable
\u00a0
bankruptcy
\u00a0
or
\u00a0
other
\u00a0
financial
\u00a0
arrangement.
Trade
\u00a0
receivables
\u00a0
are
\u00a0
permanently
\u00a0
written
\u00a0
off
\u00a0
when
\u00a0
there
\u00a0
is
\u00a0
no
\u00a0
reasonable
\u00a0
expectation
\u00a0
of
\u00a0
recovery.
The
\u00a0
Group
\u00a0
may
\u00a0
sell
\u00a0
undivided
\u00a0
interests
\u00a0
in
\u00a0
trade
\u00a0
receivables
\u00a0
on
\u00a0
an
\u00a0
ongoing
\u00a0
and
\u00a0
one-time
\u00a0
basis
\u00a0
to
\u00a0
lending
institutions.
\u00a0
Financial
\u00a0
assets
\u00a0
sold
\u00a0
under
\u00a0
these
\u00a0
arrangements
\u00a0
are
\u00a0
excluded
\u00a0
from
\u00a0
trade
\u00a0
receivables
\u00a0
in
\u00a0
the
statement
\u00a0
of
\u00a0
financial
\u00a0
position
\u00a0
at
\u00a0
the
\u00a0
time
\u00a0
of
\u00a0
payment
\u00a0
from
\u00a0
the
\u00a0
acquirer,
\u00a0
providing
\u00a0
that
\u00a0
substantially
\u00a0
all
\u00a0
risks
and
\u00a0
rewards
\u00a0
have
\u00a0
been
\u00a0
transferred.
\u00a0
If
\u00a0
the
\u00a0
acquirer
\u00a0
has
\u00a0
not
\u00a0
settled
\u00a0
payment
\u00a0
to
\u00a0
the
\u00a0
extent
\u00a0
that
\u00a0
the
\u00a0
ownership,
risk,
\u00a0
and
\u00a0
control
\u00a0
over
\u00a0
the
\u00a0
receivable
\u00a0
have
\u00a0
been
\u00a0
substantially
\u00a0
transferred,
\u00a0
then
\u00a0
such
\u00a0
financial
\u00a0
assets
\u00a0
sold
\u00a0
are
re-recognised
\u00a0
in
\u00a0
the
\u00a0
statement
\u00a0
of
\u00a0
financial
\u00a0
position
\u00a0
at
\u00a0
the
\u00a0
end
\u00a0
of
\u00a0
the
\u00a0
reporting
\u00a0
period.
Contract
\u00a0
assets
\u00a0
and
\u00a0
liabilities
\u00a0
are
\u00a0
related
\u00a0
to
\u00a0
contracts
\u00a0
with
\u00a0
customers.
When
\u00a0
control
\u00a0
over
\u00a0
goods
\u00a0
or
\u00a0
services
\u00a0
is
\u00a0
transferred
\u00a0
to
\u00a0
a
\u00a0
customer
\u00a0
before
\u00a0
the
\u00a0
customer
\u00a0
pays
\u00a0
the
consideration,
\u00a0
the
\u00a0
receivable
\u00a0
is
\u00a0
recognised
\u00a0
as
\u00a0
a
\u00a0
contract
\u00a0
asset.
\u00a0
The
\u00a0
contract
\u00a0
asset
\u00a0
represents
\u00a0
the
\u00a0
right
\u00a0
to
\u00a0
a
future
\u00a0
consideration.
\u00a0
Contract
\u00a0
assets
\u00a0
primarily
\u00a0
relate
\u00a0
to
\u00a0
the
\u00a0
Group\u2019s
\u00a0
right
\u00a0
to
\u00a0
consideration
\u00a0
for
\u00a0
transferred
goods
\u00a0
or
\u00a0
services,
\u00a0
but
\u00a0
which
\u00a0
are
\u00a0
not
\u00a0
yet
\u00a0
invoiced
\u00a0
at
\u00a0
the
\u00a0
end
\u00a0
of
\u00a0
the
\u00a0
reporting
\u00a0
period.
\u00a0
The
\u00a0
contract
\u00a0
assets
\u00a0
are
transferred
\u00a0
to
\u00a0
trade
\u00a0
receivables
\u00a0
when
\u00a0
the
\u00a0
rights
\u00a0
become
\u00a0
unconditional.
When
\u00a0
the
\u00a0
customer
\u00a0
pays
\u00a0
consideration
\u00a0
in
\u00a0
advance,
\u00a0
or
\u00a0
when
\u00a0
the
\u00a0
consideration
\u00a0
is
\u00a0
due
\u00a0
before
\u00a0
transferring
\u00a0
the
contractual
\u00a0
performance
\u00a0
obligation,
\u00a0
the
\u00a0
amount
\u00a0
received
\u00a0
in
\u00a0
advance
\u00a0
is
\u00a0
presented
\u00a0
as
\u00a0
a
\u00a0
contract
\u00a0
liability.
Contract
\u00a0
liabilities
\u00a0
include
\u00a0
advances
\u00a0
received
\u00a0
(payments
\u00a0
received
\u00a0
in
\u00a0
advance)
\u00a0
and
\u00a0
deferred
\u00a0
revenue
(invoicing
\u00a0
in
\u00a0
excess
\u00a0
of
\u00a0
revenue
\u00a0
recognised).
\u00a0
Contract
\u00a0
liabilities
\u00a0
are
\u00a0
recognised
\u00a0
as
\u00a0
revenue
\u00a0
when
\u00a0
the
\u00a0
Group
performs
\u00a0
under
\u00a0
the
\u00a0
contract.
", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForTradeAndOtherReceivablesExplanatory", "language": "en", "entity": "scheme:743700G7A9J1PHM3X223", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00" } }, "ID_51": { "value": "
Impairment
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
MEUR
2023
2022
Impairment
\u00a0
on
\u00a0
1
\u00a0
January
87
79
Money
\u00a0
received
-33
-8
Increase
\u00a0
in
\u00a0
loss
\u00a0
allowance
\u00a0
recognised
10
19
Receivables
\u00a0
written
\u00a0
off
\u00a0
during
\u00a0
the
\u00a0
financial
\u00a0
period
\u00a0
as
\u00a0
uncollectible
-6
-2
Impairment
\u00a0
on
\u00a0
31
\u00a0
December
57
87
", "dimensions": { "concept": "ifrs-full:DisclosureOfImpairmentOfAssetsExplanatory", "language": "en", "entity": "scheme:743700G7A9J1PHM3X223", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00" } }, "ID_52": { "value": "
4.3.
\u00a0
OTHER
\u00a0
RECEIVABLES
Accounting
\u00a0
principles
Other
\u00a0
receivables
\u00a0
are
\u00a0
recognised
\u00a0
at
\u00a0
amortised
\u00a0
cost.
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
MEUR
2023
2022
Derivatives
49
59
Interest
\u00a0
and
\u00a0
other
\u00a0
financial
\u00a0
items
3
3
Insurance
\u00a0
receivables
3
3
Rental
\u00a0
accruals
4
4
Prepaid
\u00a0
expenses
2
2
Other
\u00a0
accruals
34
42
Loan
\u00a0
receivables
1
1
Defined
\u00a0
benefit
\u00a0
plans
16
17
VAT
\u00a0
receivables
160
170
Other*
62
64
Total
332
366
Non-current
46
57
Current
287
309
*
\u00a0
Other
\u00a0
includes
\u00a0
payroll
\u00a0
related
\u00a0
tax
\u00a0
receivables
\u00a0
of
\u00a0
EUR
\u00a0
8
\u00a0
million
\u00a0
(8)
\u00a0
in
\u00a0
Brazil,
\u00a0
which
\u00a0
are
\u00a0
not
\u00a0
likely
\u00a0
to
\u00a0
be
\u00a0
utilised
within
\u00a0
a
\u00a0
year.
", "dimensions": { "concept": "ifrs-full:DisclosureOfOtherAssetsExplanatory", "language": "en", "entity": "scheme:743700G7A9J1PHM3X223", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00" } }, "ID_53": { "value": "
4.4.
\u00a0
TRADE
\u00a0
PAYABLES
\u00a0
AND
\u00a0
OTHER
\u00a0
LIABILITIES
Accounting
\u00a0
principles
Trade
\u00a0
payables
\u00a0
and
\u00a0
other
\u00a0
liabilities
\u00a0
are
\u00a0
initially
\u00a0
recognised
\u00a0
at
\u00a0
fair
\u00a0
value
\u00a0
and
\u00a0
subsequently
\u00a0
measured
\u00a0
at
amortised
\u00a0
cost.
MEUR
2023
2022
Trade
\u00a0
payables*
686
1
\u00a0
041
Accrued
\u00a0
expenses
334
286
Personnel
\u00a0
costs
232
143
Derivatives
16
18
Interest
\u00a0
and
\u00a0
other
\u00a0
financial
\u00a0
items
9
5
Other
\u00a0
accruals
46
39
VAT
\u00a0
liabilities
38
43
Other
93
106
Total
1
\u00a0
454
1
\u00a0
683
Non-current
16
5
Current
1
\u00a0
437
1
\u00a0
677
*
\u00a0
EUR
\u00a0
232
\u00a0
million
\u00a0
(511)
\u00a0
of
\u00a0
the
\u00a0
trade
\u00a0
payables
\u00a0
were
\u00a0
eligible
\u00a0
for
\u00a0
Supply
\u00a0
Chain
\u00a0
Finance
\u00a0
programmes
\u00a0
provided
\u00a0
by
banks
\u00a0
to
\u00a0
W\u00e4rtsil\u00e4\u2019s
\u00a0
suppliers.
", "dimensions": { "concept": "ifrs-full:DisclosureOfTradeAndOtherPayablesExplanatory", "language": "en", "entity": "scheme:743700G7A9J1PHM3X223", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00" } }, "ID_54": { "value": "
Accounting
\u00a0
principles
Trade
\u00a0
payables
\u00a0
and
\u00a0
other
\u00a0
liabilities
\u00a0
are
\u00a0
initially
\u00a0
recognised
\u00a0
at
\u00a0
fair
\u00a0
value
\u00a0
and
\u00a0
subsequently
\u00a0
measured
\u00a0
at
amortised
\u00a0
cost.
", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForTradeAndOtherPayablesExplanatory", "language": "en", "entity": "scheme:743700G7A9J1PHM3X223", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00" } }, "ID_55": { "value": "
4.5.
\u00a0
PROVISIONS
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
Accounting
\u00a0
principles
Provisions
\u00a0
are
\u00a0
recognised
\u00a0
in
\u00a0
the
\u00a0
statement
\u00a0
of
\u00a0
financial
\u00a0
position
\u00a0
when
\u00a0
the
\u00a0
Group
\u00a0
has
\u00a0
a
\u00a0
present
\u00a0
legal
\u00a0
or
constructive
\u00a0
obligation
\u00a0
as
\u00a0
a
\u00a0
result
\u00a0
of
\u00a0
a
\u00a0
past
\u00a0
event,
\u00a0
and
\u00a0
it
\u00a0
is
\u00a0
probable
\u00a0
that
\u00a0
an
\u00a0
outflow
\u00a0
of
\u00a0
economic
\u00a0
benefits
\u00a0
will
be
\u00a0
required
\u00a0
to
\u00a0
settle
\u00a0
the
\u00a0
obligation
\u00a0
and
\u00a0
a
\u00a0
reliable
\u00a0
estimate
\u00a0
can
\u00a0
be
\u00a0
made
\u00a0
of
\u00a0
the
\u00a0
amount
\u00a0
of
\u00a0
the
\u00a0
obligation.
Provisions
\u00a0
can
\u00a0
arise,
\u00a0
for
\u00a0
example,
\u00a0
from
\u00a0
warranties,
\u00a0
environmental
\u00a0
risks,
\u00a0
litigation,
\u00a0
foreseeable
\u00a0
losses
\u00a0
on
projects,
\u00a0
and
\u00a0
restructuring
\u00a0
costs.
\u00a0
The
\u00a0
amount
\u00a0
to
\u00a0
be
\u00a0
recognised
\u00a0
as
\u00a0
provisions
\u00a0
corresponds
\u00a0
to
\u00a0
management\u2019s
best
\u00a0
estimate
\u00a0
of
\u00a0
the
\u00a0
expenses
\u00a0
that
\u00a0
will
\u00a0
be
\u00a0
necessary
\u00a0
to
\u00a0
meet
\u00a0
the
\u00a0
existing
\u00a0
obligation
\u00a0
at
\u00a0
the
\u00a0
end
\u00a0
of
\u00a0
the
reporting
\u00a0
period.
Warranty
\u00a0
provisions
\u00a0
include
\u00a0
estimated
\u00a0
future
\u00a0
warranty
\u00a0
costs
\u00a0
relating
\u00a0
to
\u00a0
products
\u00a0
delivered.
\u00a0
The
\u00a0
amount
\u00a0
of
future
\u00a0
warranty
\u00a0
costs
\u00a0
is
\u00a0
based
\u00a0
on
\u00a0
accumulated
\u00a0
historical
\u00a0
experience.
\u00a0
Typically,
\u00a0
the
\u00a0
standard
\u00a0
warranty
period
\u00a0
is
\u00a0
one
\u00a0
year
\u00a0
from
\u00a0
the
\u00a0
delivery
\u00a0
onwards.
Onerous
\u00a0
contracts
\u00a0
are
\u00a0
contracts
\u00a0
in
\u00a0
which
\u00a0
the
\u00a0
unavoidable
\u00a0
costs
\u00a0
of
\u00a0
meeting
\u00a0
the
\u00a0
obligations
\u00a0
exceed
\u00a0
the
economic
\u00a0
benefits
\u00a0
expected.
\u00a0
The
\u00a0
present
\u00a0
obligation
\u00a0
under
\u00a0
the
\u00a0
contract
\u00a0
is
\u00a0
measured
\u00a0
and
\u00a0
a
\u00a0
provision
\u00a0
is
recognised
\u00a0
to
\u00a0
reflect
\u00a0
the
\u00a0
expected
\u00a0
loss.
Provisions
\u00a0
for
\u00a0
restructuring
\u00a0
costs
\u00a0
are
\u00a0
made
\u00a0
once
\u00a0
the
\u00a0
restructuring
\u00a0
plan
\u00a0
has
\u00a0
been
\u00a0
approved
\u00a0
and
\u00a0
the
implementation
\u00a0
started,
\u00a0
or
\u00a0
the
\u00a0
personnel
\u00a0
concerned
\u00a0
have
\u00a0
been
\u00a0
informed
\u00a0
of
\u00a0
the
\u00a0
terms.
\u00a0
The
\u00a0
plan
\u00a0
must
indicate
\u00a0
which
\u00a0
activities
\u00a0
and
\u00a0
personnel
\u00a0
will
\u00a0
be
\u00a0
affected,
\u00a0
as
\u00a0
well
\u00a0
as
\u00a0
the
\u00a0
timing
\u00a0
and
\u00a0
cost
\u00a0
of
\u00a0
implementation.
The
\u00a0
Group
\u00a0
is
\u00a0
a
\u00a0
defendant
\u00a0
in
\u00a0
a
\u00a0
number
\u00a0
of
\u00a0
legal
\u00a0
cases
\u00a0
which
\u00a0
arise
\u00a0
out
\u00a0
of,
\u00a0
or
\u00a0
are
\u00a0
incidental
\u00a0
to,
\u00a0
the
\u00a0
ordinary
course
\u00a0
of
\u00a0
its
\u00a0
business.
\u00a0
These
\u00a0
lawsuits
\u00a0
concern
\u00a0
mainly
\u00a0
issues,
\u00a0
such
\u00a0
as
\u00a0
contractual
\u00a0
and
\u00a0
other
\u00a0
liability,
\u00a0
labour
relations,
\u00a0
property
\u00a0
damage
\u00a0
and
\u00a0
regulatory
\u00a0
matters.
\u00a0
The
\u00a0
Group
\u00a0
receives
\u00a0
from
\u00a0
time
\u00a0
to
\u00a0
time
\u00a0
claims
\u00a0
of
\u00a0
different
amounts
\u00a0
and
\u00a0
with
\u00a0
varying
\u00a0
degrees
\u00a0
of
\u00a0
substantiation.
\u00a0
It
\u00a0
is
\u00a0
the
\u00a0
Group\u2019s
\u00a0
policy
\u00a0
to
\u00a0
provide
\u00a0
for
\u00a0
amounts
\u00a0
related
to
\u00a0
the
\u00a0
claims,
\u00a0
as
\u00a0
well
\u00a0
as
\u00a0
for
\u00a0
the
\u00a0
litigation
\u00a0
and
\u00a0
arbitration
\u00a0
matters
\u00a0
when
\u00a0
an
\u00a0
unfavourable
\u00a0
outcome
\u00a0
is
\u00a0
probable
and
\u00a0
the
\u00a0
amount
\u00a0
of
\u00a0
loss
\u00a0
can
\u00a0
be
\u00a0
reasonably
\u00a0
estimated.
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
Accounting
\u00a0
estimates
\u00a0
and
\u00a0
judgements
Provisions
\u00a0
are
\u00a0
accounted
\u00a0
for
\u00a0
based
\u00a0
on
\u00a0
management\u2019s
\u00a0
best
\u00a0
estimate
\u00a0
of
\u00a0
the
\u00a0
future
\u00a0
outcome
\u00a0
concerning
\u00a0
the
expected
\u00a0
expenses
\u00a0
in
\u00a0
a
\u00a0
specific
\u00a0
situation.
\u00a0
Management
\u00a0
uses
\u00a0
judgement
\u00a0
and
\u00a0
relies
\u00a0
on
\u00a0
estimates
\u00a0
based
\u00a0
on
accumulated
\u00a0
historical
\u00a0
experience,
\u00a0
situation
\u00a0
specific
\u00a0
circumstances,
\u00a0
estimated
\u00a0
risks,
\u00a0
uncertainties,
\u00a0
and
future
\u00a0
events,
\u00a0
such
\u00a0
as
\u00a0
changes
\u00a0
in
\u00a0
the
\u00a0
law
\u00a0
or
\u00a0
development
\u00a0
of
\u00a0
a
\u00a0
technology.
\u00a0
Management
\u00a0
judgement
\u00a0
is
\u00a0
also
required
\u00a0
in
\u00a0
estimating
\u00a0
provisions
\u00a0
for
\u00a0
legal
\u00a0
cases.
\u00a0
A
\u00a0
provision
\u00a0
for
\u00a0
a
\u00a0
court
\u00a0
case
\u00a0
is
\u00a0
recognised
\u00a0
when
\u00a0
an
unfavourable
\u00a0
result
\u00a0
is
\u00a0
probable,
\u00a0
and
\u00a0
the
\u00a0
loss
\u00a0
can
\u00a0
be
\u00a0
determined
\u00a0
with
\u00a0
reasonable
\u00a0
certainty.
\u00a0
The
\u00a0
Group
\u00a0
is
\u00a0
a
defendant
\u00a0
in
\u00a0
a
\u00a0
number
\u00a0
of
\u00a0
legal
\u00a0
cases
\u00a0
arising
\u00a0
from
\u00a0
its
\u00a0
business
\u00a0
operations.
\u00a0
The
\u00a0
final
\u00a0
result
\u00a0
from
\u00a0
these
\u00a0
cases
can
\u00a0
differ
\u00a0
from
\u00a0
these
\u00a0
estimates.
2023
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
MEUR
Litigation
Warranties
Onerous
\u00a0
contracts
Restruc-
turing
Other
\u00a0
provisions
Total
Provisions
\u00a0
on
\u00a0
1
\u00a0
January
\u00a0
2023
12
155
88
62
80
397
Changes
\u00a0
in
\u00a0
exchange
\u00a0
rates
0
-2
-1
0
-1
-3
Additions
3
53
79
18
46
199
Used
\u00a0
provisions
-4
-62
-87
-17
-19
-188
Released
\u00a0
provisions
-6
-13
-1
-11
-32
Provisions
\u00a0
on
\u00a0
31
\u00a0
December
\u00a0
2023
5
144
66
62
96
373
Non-current
93
Current
279
The
\u00a0
provisions
\u00a0
for
\u00a0
restructuring
\u00a0
include
\u00a0
EUR
\u00a0
58
\u00a0
million
\u00a0
(54)
\u00a0
related
\u00a0
to
\u00a0
the
\u00a0
ramp-down
\u00a0
of
\u00a0
manufacturing
\u00a0
in
Trieste,
\u00a0
Italy.
\u00a0
Trieste
\u00a0
ramp-down
\u00a0
related
\u00a0
provisions
\u00a0
increased
\u00a0
by
\u00a0
EUR
\u00a0
16
\u00a0
million
\u00a0
during
\u00a0
the
\u00a0
financial
\u00a0
period.
Used
\u00a0
provisions
\u00a0
amounted
\u00a0
to
\u00a0
EUR
\u00a0
12
\u00a0
million.
There
\u00a0
is
\u00a0
currently
\u00a0
one
\u00a0
unusually
\u00a0
sizeable
\u00a0
claim,
\u00a0
but
\u00a0
it
\u00a0
is
\u00a0
highly
\u00a0
unlikely
\u00a0
that
\u00a0
the
\u00a0
outcome
\u00a0
of
\u00a0
it
\u00a0
will
\u00a0
be
unfavourable.
", "dimensions": { "concept": "ifrs-full:DisclosureOfProvisionsExplanatory", "language": "en", "entity": "scheme:743700G7A9J1PHM3X223", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00" } }, "ID_57": { "value": "
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
Accounting
\u00a0
principles
Provisions
\u00a0
are
\u00a0
recognised
\u00a0
in
\u00a0
the
\u00a0
statement
\u00a0
of
\u00a0
financial
\u00a0
position
\u00a0
when
\u00a0
the
\u00a0
Group
\u00a0
has
\u00a0
a
\u00a0
present
\u00a0
legal
\u00a0
or
constructive
\u00a0
obligation
\u00a0
as
\u00a0
a
\u00a0
result
\u00a0
of
\u00a0
a
\u00a0
past
\u00a0
event,
\u00a0
and
\u00a0
it
\u00a0
is
\u00a0
probable
\u00a0
that
\u00a0
an
\u00a0
outflow
\u00a0
of
\u00a0
economic
\u00a0
benefits
\u00a0
will
be
\u00a0
required
\u00a0
to
\u00a0
settle
\u00a0
the
\u00a0
obligation
\u00a0
and
\u00a0
a
\u00a0
reliable
\u00a0
estimate
\u00a0
can
\u00a0
be
\u00a0
made
\u00a0
of
\u00a0
the
\u00a0
amount
\u00a0
of
\u00a0
the
\u00a0
obligation.
Provisions
\u00a0
can
\u00a0
arise,
\u00a0
for
\u00a0
example,
\u00a0
from
\u00a0
warranties,
\u00a0
environmental
\u00a0
risks,
\u00a0
litigation,
\u00a0
foreseeable
\u00a0
losses
\u00a0
on
projects,
\u00a0
and
\u00a0
restructuring
\u00a0
costs.
\u00a0
The
\u00a0
amount
\u00a0
to
\u00a0
be
\u00a0
recognised
\u00a0
as
\u00a0
provisions
\u00a0
corresponds
\u00a0
to
\u00a0
management\u2019s
best
\u00a0
estimate
\u00a0
of
\u00a0
the
\u00a0
expenses
\u00a0
that
\u00a0
will
\u00a0
be
\u00a0
necessary
\u00a0
to
\u00a0
meet
\u00a0
the
\u00a0
existing
\u00a0
obligation
\u00a0
at
\u00a0
the
\u00a0
end
\u00a0
of
\u00a0
the
reporting
\u00a0
period.
Warranty
\u00a0
provisions
\u00a0
include
\u00a0
estimated
\u00a0
future
\u00a0
warranty
\u00a0
costs
\u00a0
relating
\u00a0
to
\u00a0
products
\u00a0
delivered.
\u00a0
The
\u00a0
amount
\u00a0
of
future
\u00a0
warranty
\u00a0
costs
\u00a0
is
\u00a0
based
\u00a0
on
\u00a0
accumulated
\u00a0
historical
\u00a0
experience.
\u00a0
Typically,
\u00a0
the
\u00a0
standard
\u00a0
warranty
period
\u00a0
is
\u00a0
one
\u00a0
year
\u00a0
from
\u00a0
the
\u00a0
delivery
\u00a0
onwards.
Onerous
\u00a0
contracts
\u00a0
are
\u00a0
contracts
\u00a0
in
\u00a0
which
\u00a0
the
\u00a0
unavoidable
\u00a0
costs
\u00a0
of
\u00a0
meeting
\u00a0
the
\u00a0
obligations
\u00a0
exceed
\u00a0
the
economic
\u00a0
benefits
\u00a0
expected.
\u00a0
The
\u00a0
present
\u00a0
obligation
\u00a0
under
\u00a0
the
\u00a0
contract
\u00a0
is
\u00a0
measured
\u00a0
and
\u00a0
a
\u00a0
provision
\u00a0
is
recognised
\u00a0
to
\u00a0
reflect
\u00a0
the
\u00a0
expected
\u00a0
loss.
Provisions
\u00a0
for
\u00a0
restructuring
\u00a0
costs
\u00a0
are
\u00a0
made
\u00a0
once
\u00a0
the
\u00a0
restructuring
\u00a0
plan
\u00a0
has
\u00a0
been
\u00a0
approved
\u00a0
and
\u00a0
the
implementation
\u00a0
started,
\u00a0
or
\u00a0
the
\u00a0
personnel
\u00a0
concerned
\u00a0
have
\u00a0
been
\u00a0
informed
\u00a0
of
\u00a0
the
\u00a0
terms.
\u00a0
The
\u00a0
plan
\u00a0
must
indicate
\u00a0
which
\u00a0
activities
\u00a0
and
\u00a0
personnel
\u00a0
will
\u00a0
be
\u00a0
affected,
\u00a0
as
\u00a0
well
\u00a0
as
\u00a0
the
\u00a0
timing
\u00a0
and
\u00a0
cost
\u00a0
of
\u00a0
implementation.
The
\u00a0
Group
\u00a0
is
\u00a0
a
\u00a0
defendant
\u00a0
in
\u00a0
a
\u00a0
number
\u00a0
of
\u00a0
legal
\u00a0
cases
\u00a0
which
\u00a0
arise
\u00a0
out
\u00a0
of,
\u00a0
or
\u00a0
are
\u00a0
incidental
\u00a0
to,
\u00a0
the
\u00a0
ordinary
course
\u00a0
of
\u00a0
its
\u00a0
business.
\u00a0
These
\u00a0
lawsuits
\u00a0
concern
\u00a0
mainly
\u00a0
issues,
\u00a0
such
\u00a0
as
\u00a0
contractual
\u00a0
and
\u00a0
other
\u00a0
liability,
\u00a0
labour
relations,
\u00a0
property
\u00a0
damage
\u00a0
and
\u00a0
regulatory
\u00a0
matters.
\u00a0
The
\u00a0
Group
\u00a0
receives
\u00a0
from
\u00a0
time
\u00a0
to
\u00a0
time
\u00a0
claims
\u00a0
of
\u00a0
different
amounts
\u00a0
and
\u00a0
with
\u00a0
varying
\u00a0
degrees
\u00a0
of
\u00a0
substantiation.
\u00a0
It
\u00a0
is
\u00a0
the
\u00a0
Group\u2019s
\u00a0
policy
\u00a0
to
\u00a0
provide
\u00a0
for
\u00a0
amounts
\u00a0
related
to
\u00a0
the
\u00a0
claims,
\u00a0
as
\u00a0
well
\u00a0
as
\u00a0
for
\u00a0
the
\u00a0
litigation
\u00a0
and
\u00a0
arbitration
\u00a0
matters
\u00a0
when
\u00a0
an
\u00a0
unfavourable
\u00a0
outcome
\u00a0
is
\u00a0
probable
and
\u00a0
the
\u00a0
amount
\u00a0
of
\u00a0
loss
\u00a0
can
\u00a0
be
\u00a0
reasonably
\u00a0
estimated.
", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForProvisionsExplanatory", "language": "en", "entity": "scheme:743700G7A9J1PHM3X223", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00" } }, "ID_56": { "value": "
2022
\u00a0
\n
\u00a0
\n
\u00a0
\n
MEUR
Litigation
Warranties
Onerous
\u00a0
contracts
Restruc-
turing
Other
\u00a0
provisions
Total
Provisions
\u00a0
on
\u00a0
1
\u00a0
January
\u00a0
2022
10
162
65
7
70
314
Changes
\u00a0
in
\u00a0
exchange
\u00a0
rates
-2
-1
-2
Disposals
-1
Additions
10
47
122
59
27
266
Used
\u00a0
provisions
-8
-53
-93
-3
-14
-171
Released
\u00a0
provisions
-5
-1
-3
-9
Provisions
\u00a0
on
\u00a0
31
\u00a0
December
\u00a0
2022
12
155
88
62
80
397
Non-current
85
Current
311
", "dimensions": { "concept": "ifrs-full:DisclosureOfProvisionsExplanatory", "language": "en", "entity": "scheme:743700G7A9J1PHM3X223", "period": "2022-01-01T00:00:00/2023-01-01T00:00:00" } }, "ID_58": { "value": "
4.6.
\u00a0
DEFERRED
\u00a0
TAXES
Accounting
\u00a0
principles
Deferred
\u00a0
tax
\u00a0
liabilities
\u00a0
and
\u00a0
assets
\u00a0
are
\u00a0
calculated
\u00a0
on
\u00a0
temporary
\u00a0
differences
\u00a0
arising
\u00a0
from
\u00a0
the
\u00a0
difference
between
\u00a0
the
\u00a0
tax
\u00a0
basis
\u00a0
of
\u00a0
assets
\u00a0
and
\u00a0
liabilities,
\u00a0
and
\u00a0
the
\u00a0
carrying
\u00a0
values
\u00a0
using
\u00a0
the
\u00a0
enacted
\u00a0
or
\u00a0
substantially
enacted
\u00a0
tax
\u00a0
rates
\u00a0
at
\u00a0
the
\u00a0
end
\u00a0
of
\u00a0
the
\u00a0
reporting
\u00a0
period.
\u00a0
The
\u00a0
statement
\u00a0
of
\u00a0
financial
\u00a0
position
\u00a0
includes
\u00a0
deferred
tax
\u00a0
liabilities
\u00a0
in
\u00a0
their
\u00a0
entirety
\u00a0
and
\u00a0
deferred
\u00a0
tax
\u00a0
assets
\u00a0
at
\u00a0
their
\u00a0
estimated
\u00a0
probable
\u00a0
amount.
Deferred
\u00a0
tax
\u00a0
assets
\u00a0
and
\u00a0
liabilities
\u00a0
are
\u00a0
offset
\u00a0
when
\u00a0
the
\u00a0
deferred
\u00a0
tax
\u00a0
assets
\u00a0
and
\u00a0
liabilities
\u00a0
relate
\u00a0
to
\u00a0
income
taxes
\u00a0
levied
\u00a0
by
\u00a0
the
\u00a0
same
\u00a0
taxation
\u00a0
authority
\u00a0
on
\u00a0
either
\u00a0
the
\u00a0
same
\u00a0
taxable
\u00a0
entity,
\u00a0
or
\u00a0
different
\u00a0
taxable
\u00a0
entities
which
\u00a0
intend
\u00a0
to
\u00a0
settle
\u00a0
the
\u00a0
balances
\u00a0
on
\u00a0
a
\u00a0
net
\u00a0
basis.
Accounting
\u00a0
estimates
\u00a0
and
\u00a0
judgements
Estimates
\u00a0
of
\u00a0
tax
\u00a0
liabilities
\u00a0
and
\u00a0
receivables
\u00a0
relate
\u00a0
mainly
\u00a0
to
\u00a0
the
\u00a0
expected
\u00a0
results
\u00a0
of
\u00a0
ongoing
\u00a0
tax
\u00a0
audits,
\u00a0
and
\u00a0
to
the
\u00a0
recognition
\u00a0
of
\u00a0
deferred
\u00a0
tax
\u00a0
receivables
\u00a0
from
\u00a0
tax
\u00a0
losses.
\u00a0
Deferred
\u00a0
tax
\u00a0
assets
\u00a0
on
\u00a0
unutilised
\u00a0
tax
\u00a0
losses
\u00a0
and
other
\u00a0
temporary
\u00a0
differences
\u00a0
are
\u00a0
recognised
\u00a0
to
\u00a0
the
\u00a0
extent
\u00a0
it
\u00a0
is
\u00a0
highly
\u00a0
probable
\u00a0
that
\u00a0
taxable
\u00a0
profit
\u00a0
is
\u00a0
available.
No
\u00a0
deferred
\u00a0
tax
\u00a0
assets
\u00a0
are
\u00a0
recognised
\u00a0
from
\u00a0
tax
\u00a0
losses
\u00a0
when
\u00a0
there
\u00a0
is
\u00a0
uncertainty
\u00a0
of
\u00a0
their
\u00a0
utilisation.
Changes
\u00a0
in
\u00a0
deferred
\u00a0
taxes
\u00a0
during
\u00a0
2023
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
MEUR
1
\u00a0
January
2023
Recog-
nised
\u00a0
in
\u00a0
the
\u00a0
con-
solidated
statement
of
\u00a0
income
Recog-
nised
\u00a0
in
the
\u00a0
con-
solidated
statement
of
compre-
hensive
\u00a0
income
Recog-
nised
\u00a0
in
\u00a0
the
\u00a0
con-
solidated
statement
of
financial
position
Transla
\u00a0
-
tion
\u00a0
dif-
ferences
Acquisi-
tions
\u00a0
and
\u00a0
disposals
31
December
2023
Deferred
\u00a0
tax
\u00a0
assets
Tax
\u00a0
loss
\u00a0
carry-forwards
41
1
0
0
-1
0
41
Pension
\u00a0
obligations
10
7
0
0
0
0
17
Provisions
62
-12
0
0
-1
0
49
Elimination
\u00a0
of
\u00a0
intragroup
\u00a0
margin
\u00a0
in
inventories
8
1
0
0
0
0
9
Fair
\u00a0
value
\u00a0
reserve
1
0
0
0
0
0
1
Lease
\u00a0
liabilities
60
-10
0
9
-1
0
59
Other
\u00a0
temporary
\u00a0
differences
73
23
0
0
-5
0
92
Set-off
\u00a0
of
\u00a0
deferred
\u00a0
tax
\u00a0
assets
related
\u00a0
to
\u00a0
lease
\u00a0
liabilities
-58
-56
Total
197
11
1
9
-8
0
212
Deferred
\u00a0
tax
\u00a0
liabilities
Intangible
\u00a0
assets
\u00a0
and
\u00a0
property,
plant
\u00a0
and
\u00a0
equipment
32
2
0
0
-1
32
Fair
\u00a0
value
\u00a0
reserve
4
0
3
0
0
0
7
Right-of-use
\u00a0
assets
58
-11
0
9
0
0
56
Other
\u00a0
temporary
\u00a0
differences
29
2
0
0
-1
0
30
Set-off
\u00a0
of
\u00a0
deferred
\u00a0
tax
\u00a0
liabilities
related
\u00a0
to
\u00a0
right-of
\u00a0
-use
\u00a0
assets
-58
-56
Total
65
-10
3
9
-2
-1
69
Net
\u00a0
deferred
\u00a0
tax
assets/liabilities
132
21
-2
0
-6
1
143
On
\u00a0
31
\u00a0
December
\u00a0
2023,
\u00a0
the
\u00a0
Group
\u00a0
had
\u00a0
temporary
\u00a0
differences
\u00a0
on
\u00a0
which
\u00a0
no
\u00a0
deferred
\u00a0
tax
\u00a0
assets
\u00a0
were
\u00a0
booked,
totalling
\u00a0
EUR
\u00a0
87
\u00a0
million
\u00a0
(77),
\u00a0
as
\u00a0
it
\u00a0
is
\u00a0
uncertain
\u00a0
if
\u00a0
they
\u00a0
will
\u00a0
be
\u00a0
realised.
\u00a0
Most
\u00a0
of
\u00a0
the
\u00a0
unrecognised
\u00a0
deferred
\u00a0
tax
assets
\u00a0
are
\u00a0
related
\u00a0
to
\u00a0
cumulative
\u00a0
tax
\u00a0
losses.
\u00a0
Of
\u00a0
these,
\u00a0
EUR
\u00a0
8
\u00a0
million
\u00a0
(9)
\u00a0
will
\u00a0
expire
\u00a0
within
\u00a0
the
\u00a0
next
\u00a0
five
\u00a0
years
\u00a0
and
the
\u00a0
rest
\u00a0
will
\u00a0
expire
\u00a0
later
\u00a0
or
\u00a0
never.
\u00a0
Most
\u00a0
of
\u00a0
the
\u00a0
cumulative
\u00a0
tax
\u00a0
losses
\u00a0
on
\u00a0
which
\u00a0
deferred
\u00a0
tax
\u00a0
assets
\u00a0
have
\u00a0
been
booked
\u00a0
will
\u00a0
never
\u00a0
expire.
", "dimensions": { "concept": "ifrs-full:DisclosureOfDeferredTaxesExplanatory", "language": "en", "entity": "scheme:743700G7A9J1PHM3X223", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00" } }, "ID_60": { "value": "
Accounting
\u00a0
principles
Deferred
\u00a0
tax
\u00a0
liabilities
\u00a0
and
\u00a0
assets
\u00a0
are
\u00a0
calculated
\u00a0
on
\u00a0
temporary
\u00a0
differences
\u00a0
arising
\u00a0
from
\u00a0
the
\u00a0
difference
between
\u00a0
the
\u00a0
tax
\u00a0
basis
\u00a0
of
\u00a0
assets
\u00a0
and
\u00a0
liabilities,
\u00a0
and
\u00a0
the
\u00a0
carrying
\u00a0
values
\u00a0
using
\u00a0
the
\u00a0
enacted
\u00a0
or
\u00a0
substantially
enacted
\u00a0
tax
\u00a0
rates
\u00a0
at
\u00a0
the
\u00a0
end
\u00a0
of
\u00a0
the
\u00a0
reporting
\u00a0
period.
\u00a0
The
\u00a0
statement
\u00a0
of
\u00a0
financial
\u00a0
position
\u00a0
includes
\u00a0
deferred
tax
\u00a0
liabilities
\u00a0
in
\u00a0
their
\u00a0
entirety
\u00a0
and
\u00a0
deferred
\u00a0
tax
\u00a0
assets
\u00a0
at
\u00a0
their
\u00a0
estimated
\u00a0
probable
\u00a0
amount.
Deferred
\u00a0
tax
\u00a0
assets
\u00a0
and
\u00a0
liabilities
\u00a0
are
\u00a0
offset
\u00a0
when
\u00a0
the
\u00a0
deferred
\u00a0
tax
\u00a0
assets
\u00a0
and
\u00a0
liabilities
\u00a0
relate
\u00a0
to
\u00a0
income
taxes
\u00a0
levied
\u00a0
by
\u00a0
the
\u00a0
same
\u00a0
taxation
\u00a0
authority
\u00a0
on
\u00a0
either
\u00a0
the
\u00a0
same
\u00a0
taxable
\u00a0
entity,
\u00a0
or
\u00a0
different
\u00a0
taxable
\u00a0
entities
which
\u00a0
intend
\u00a0
to
\u00a0
settle
\u00a0
the
\u00a0
balances
\u00a0
on
\u00a0
a
\u00a0
net
\u00a0
basis.
", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForTaxesOtherThanIncomeTaxExplanatory", "language": "en", "entity": "scheme:743700G7A9J1PHM3X223", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00" } }, "ID_59": { "value": "
Changes
\u00a0
in
\u00a0
deferred
\u00a0
taxes
\u00a0
during
\u00a0
2022
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
MEUR
1
\u00a0
January
2022
Recog-
nised
\u00a0
in
\u00a0
the
\u00a0
con-
solidated
statement
of
\u00a0
income
Recog-
nised
\u00a0
in
the
\u00a0
con-
solidated
statement
of
compre-
hensive
\u00a0
income
Recog-
nised
\u00a0
in
\u00a0
the
\u00a0
con-
solidated
statement
of
financial
position
Transla
\u00a0
-
tion
\u00a0
dif-
ferences
Acquisi-
tions
31
December
2022
Deferred
\u00a0
tax
\u00a0
assets
Tax
\u00a0
loss
\u00a0
carry-forwards
39
2
-1
41
Pension
\u00a0
obligations
20
-3
-7
10
Provisions
37
25
62
Elimination
\u00a0
of
\u00a0
intragroup
\u00a0
margin
\u00a0
in
inventories
7
1
8
Fair
\u00a0
value
\u00a0
reserve
5
-4
1
1
Lease
\u00a0
liabilities
15
45
60
Other
\u00a0
temporary
\u00a0
differences
58
17
-1
-1
73
Set-off
\u00a0
of
\u00a0
deferred
\u00a0
tax
\u00a0
assets
related
\u00a0
to
\u00a0
lease
\u00a0
liabilities
-58
Total
167
58
-11
45
-2
-1
197
Deferred
\u00a0
tax
\u00a0
liabilities
Intangible
\u00a0
assets
\u00a0
and
\u00a0
property,
plant
\u00a0
and
\u00a0
equipment
43
-12
32
Right-of-use
\u00a0
assets
14
44
58
Fair
\u00a0
value
\u00a0
reserve
4
4
Other
\u00a0
temporary
\u00a0
differences
22
7
1
-1
29
Set-off
\u00a0
of
\u00a0
deferred
\u00a0
tax
\u00a0
liabilities
related
\u00a0
to
\u00a0
right-of
\u00a0
-use
\u00a0
assets
-58
Total
65
9
5
44
-1
65
Net
\u00a0
deferred
\u00a0
tax
assets/liabilities
101
49
-16
-2
132
", "dimensions": { "concept": "ifrs-full:DisclosureOfDeferredTaxesExplanatory", "language": "en", "entity": "scheme:743700G7A9J1PHM3X223", "period": "2022-01-01T00:00:00/2023-01-01T00:00:00" } }, "ID_61": { "value": "
5.1.
\u00a0
FINANCIAL
\u00a0
INCOME
\u00a0
AND
\u00a0
EXPENSES
Accounting
\u00a0
principles
The
\u00a0
net
\u00a0
interest
\u00a0
related
\u00a0
to
\u00a0
pension
\u00a0
obligations
\u00a0
is
\u00a0
recognised
\u00a0
in
\u00a0
the
\u00a0
financial
\u00a0
statement
\u00a0
as
\u00a0
financial
\u00a0
expenses.
Also,
\u00a0
gains
\u00a0
and
\u00a0
losses
\u00a0
from
\u00a0
fair
\u00a0
valuation
\u00a0
and
\u00a0
disposal
\u00a0
and
\u00a0
impairments
\u00a0
of
\u00a0
other
\u00a0
shares
\u00a0
are
\u00a0
included
\u00a0
in
financial
\u00a0
income
\u00a0
and
\u00a0
expenses.
Changes
\u00a0
in
\u00a0
the
\u00a0
fair
\u00a0
value
\u00a0
of
\u00a0
interest
\u00a0
rate
\u00a0
hedges
\u00a0
against
\u00a0
W\u00e4rtsil\u00e4
\u00a0
Group\u2019s
\u00a0
loan
\u00a0
portfolio
\u00a0
are
\u00a0
immediately
recognised
\u00a0
in
\u00a0
financial
\u00a0
income
\u00a0
or
\u00a0
expenses
\u00a0
in
\u00a0
the
\u00a0
statement
\u00a0
of
\u00a0
income.
\u00a0
The
\u00a0
fair
\u00a0
value
\u00a0
of
\u00a0
interest
\u00a0
rate
\u00a0
swaps
\u00a0
is
calculated
\u00a0
by
\u00a0
discounting
\u00a0
the
\u00a0
future
\u00a0
cash
\u00a0
flows.
Exchange
\u00a0
rate
\u00a0
differences
\u00a0
related
\u00a0
to
\u00a0
financial
\u00a0
assets
\u00a0
and
\u00a0
financial
\u00a0
liabilities
\u00a0
are
\u00a0
reported
\u00a0
as
\u00a0
financial
\u00a0
items
\u00a0
in
the
\u00a0
statement
\u00a0
of
\u00a0
income,
\u00a0
except
\u00a0
exchange
\u00a0
rate
\u00a0
differences
\u00a0
related
\u00a0
to
\u00a0
non-current
\u00a0
debt
\u00a0
that
\u00a0
is
\u00a0
part
\u00a0
of
\u00a0
the
Group's
\u00a0
net
\u00a0
investment
\u00a0
in
\u00a0
a
\u00a0
subsidiary.
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
MEUR
2023
2022
Interest
\u00a0
income
\u00a0
on
\u00a0
loans
\u00a0
and
\u00a0
receivables
4
2
Interest
\u00a0
income
\u00a0
on
\u00a0
financial
\u00a0
assets
\u00a0
at
\u00a0
fair
\u00a0
value
\u00a0
through
\u00a0
the
\u00a0
statement
\u00a0
of
\u00a0
income
15
14
Interest
\u00a0
income
\u00a0
on
\u00a0
investments
\u00a0
at
\u00a0
amortised
\u00a0
cost
10
3
Changes
\u00a0
in
\u00a0
fair
\u00a0
values
\u00a0
of
\u00a0
financial
\u00a0
assets/liabilities
\u00a0
at
\u00a0
fair
\u00a0
value
\u00a0
through
\u00a0
the
\u00a0
statement
\u00a0
of
income
-3
10
Exchange
\u00a0
rate
\u00a0
differences*
2
\u00a0
\n
\u00a0
\n
\u00a0
\n
Other
\u00a0
financial
\u00a0
income
3
2
Total
\u00a0
financial
\u00a0
income
31
30
Interest
\u00a0
expenses
\u00a0
on
\u00a0
financial
\u00a0
liabilities
\u00a0
recognised
\u00a0
at
\u00a0
amortised
\u00a0
cost
-18
-10
Interest
\u00a0
expenses
\u00a0
on
\u00a0
lease
\u00a0
liabilities
\u00a0
recognised
\u00a0
at
\u00a0
amortised
\u00a0
cost
-8
-4
Interest
\u00a0
expenses
\u00a0
on
\u00a0
financial
\u00a0
liabilities
\u00a0
at
\u00a0
fair
\u00a0
value
\u00a0
through
\u00a0
the
\u00a0
statement
\u00a0
of
\u00a0
income
-32
-18
Net
\u00a0
interest
\u00a0
from
\u00a0
defined
\u00a0
benefit
\u00a0
plans
-2
-1
Changes
\u00a0
in
\u00a0
fair
\u00a0
values
\u00a0
of
\u00a0
financial
\u00a0
assets/liabilities
\u00a0
at
\u00a0
fair
\u00a0
value
\u00a0
through
\u00a0
the
\u00a0
statement
\u00a0
of
income
4
Exchange
\u00a0
rate
\u00a0
differences*
0
-1
Fee
\u00a0
expenses
-2
-1
Other
\u00a0
financial
\u00a0
expenses
-5
-4
Total
\u00a0
financial
\u00a0
expenses
-68
-37
Total
-37
-6
*
\u00a0
In
\u00a0
2023,
\u00a0
exchange
\u00a0
rate
\u00a0
differences
\u00a0
from
\u00a0
unhedged
\u00a0
internal
\u00a0
loans,
\u00a0
EUR
\u00a0
-3
\u00a0
million,
\u00a0
were
\u00a0
included
\u00a0
in
\u00a0
exchange
rate
\u00a0
differences.
", "dimensions": { "concept": "ifrs-full:DisclosureOfFinanceIncomeExpenseExplanatory", "language": "en", "entity": "scheme:743700G7A9J1PHM3X223", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00" } }, "ID_62": { "value": "
Accounting
\u00a0
principles
The
\u00a0
net
\u00a0
interest
\u00a0
related
\u00a0
to
\u00a0
pension
\u00a0
obligations
\u00a0
is
\u00a0
recognised
\u00a0
in
\u00a0
the
\u00a0
financial
\u00a0
statement
\u00a0
as
\u00a0
financial
\u00a0
expenses.
Also,
\u00a0
gains
\u00a0
and
\u00a0
losses
\u00a0
from
\u00a0
fair
\u00a0
valuation
\u00a0
and
\u00a0
disposal
\u00a0
and
\u00a0
impairments
\u00a0
of
\u00a0
other
\u00a0
shares
\u00a0
are
\u00a0
included
\u00a0
in
financial
\u00a0
income
\u00a0
and
\u00a0
expenses.
Changes
\u00a0
in
\u00a0
the
\u00a0
fair
\u00a0
value
\u00a0
of
\u00a0
interest
\u00a0
rate
\u00a0
hedges
\u00a0
against
\u00a0
W\u00e4rtsil\u00e4
\u00a0
Group\u2019s
\u00a0
loan
\u00a0
portfolio
\u00a0
are
\u00a0
immediately
recognised
\u00a0
in
\u00a0
financial
\u00a0
income
\u00a0
or
\u00a0
expenses
\u00a0
in
\u00a0
the
\u00a0
statement
\u00a0
of
\u00a0
income.
\u00a0
The
\u00a0
fair
\u00a0
value
\u00a0
of
\u00a0
interest
\u00a0
rate
\u00a0
swaps
\u00a0
is
calculated
\u00a0
by
\u00a0
discounting
\u00a0
the
\u00a0
future
\u00a0
cash
\u00a0
flows.
Exchange
\u00a0
rate
\u00a0
differences
\u00a0
related
\u00a0
to
\u00a0
financial
\u00a0
assets
\u00a0
and
\u00a0
financial
\u00a0
liabilities
\u00a0
are
\u00a0
reported
\u00a0
as
\u00a0
financial
\u00a0
items
\u00a0
in
the
\u00a0
statement
\u00a0
of
\u00a0
income,
\u00a0
except
\u00a0
exchange
\u00a0
rate
\u00a0
differences
\u00a0
related
\u00a0
to
\u00a0
non-current
\u00a0
debt
\u00a0
that
\u00a0
is
\u00a0
part
\u00a0
of
\u00a0
the
Group's
\u00a0
net
\u00a0
investment
\u00a0
in
\u00a0
a
\u00a0
subsidiary.
", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForFinanceIncomeAndCostsExplanatory", "language": "en", "entity": "scheme:743700G7A9J1PHM3X223", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00" } }, "ID_63": { "value": "
The
\u00a0
net
\u00a0
interest
\u00a0
related
\u00a0
to
\u00a0
pension
\u00a0
obligations
\u00a0
is
\u00a0
recognised
\u00a0
in
\u00a0
the
\u00a0
financial
\u00a0
statement
\u00a0
as
\u00a0
financial
\u00a0
expenses.
Also,
\u00a0
gains
\u00a0
and
\u00a0
losses
\u00a0
from
\u00a0
fair
\u00a0
valuation
\u00a0
and
\u00a0
disposal
\u00a0
and
\u00a0
impairments
\u00a0
of
\u00a0
other
\u00a0
shares
\u00a0
are
\u00a0
included
\u00a0
in
financial
\u00a0
income
\u00a0
and
\u00a0
expenses.
", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForImpairmentOfFinancialAssetsExplanatory", "language": "en", "entity": "scheme:743700G7A9J1PHM3X223", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00" } }, "ID_64": { "value": "
5.2.
\u00a0
FINANCIAL
\u00a0
ASSETS
\u00a0
AND
\u00a0
LIABILITIES
\u00a0
BY
\u00a0
MEASUREMENT
\u00a0
CATEGORY
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
Accounting
\u00a0
principles
Financial
\u00a0
instruments
Financial
\u00a0
instruments
\u00a0
are
\u00a0
initially
\u00a0
recognised
\u00a0
at
\u00a0
fair
\u00a0
value.
\u00a0
Subsequently,
\u00a0
financial
\u00a0
assets
\u00a0
are
\u00a0
classified
\u00a0
and
measured
\u00a0
at
\u00a0
amortised
\u00a0
cost
\u00a0
or
\u00a0
at
\u00a0
fair
\u00a0
value
\u00a0
through
\u00a0
statement
\u00a0
of
\u00a0
income.
\u00a0
The
\u00a0
classification
\u00a0
of
\u00a0
financial
assets
\u00a0
is
\u00a0
defined
\u00a0
by
\u00a0
the
\u00a0
business
\u00a0
model
\u00a0
and
\u00a0
the
\u00a0
cash
\u00a0
flow
\u00a0
characteristics
\u00a0
of
\u00a0
the
\u00a0
asset.
\u00a0
Financial
\u00a0
liabilities
are
\u00a0
subsequently
\u00a0
classified
\u00a0
and
\u00a0
measured
\u00a0
at
\u00a0
amortised
\u00a0
cost
\u00a0
or
\u00a0
at
\u00a0
fair
\u00a0
value
\u00a0
through
\u00a0
statement
\u00a0
of
\u00a0
income.
Financial
\u00a0
instruments
\u00a0
are
\u00a0
classified
\u00a0
as
\u00a0
current
\u00a0
financial
\u00a0
instruments
\u00a0
unless
\u00a0
the
\u00a0
maturity
\u00a0
of
\u00a0
the
\u00a0
financial
instrument
\u00a0
exceeds
\u00a0
12
\u00a0
months
\u00a0
from
\u00a0
the
\u00a0
end
\u00a0
of
\u00a0
the
\u00a0
reporting
\u00a0
period.
\u00a0
Financial
\u00a0
instruments
\u00a0
are
\u00a0
derecognised
only
\u00a0
when
\u00a0
the
\u00a0
financial
\u00a0
instrument
\u00a0
is
\u00a0
extinguished,
\u00a0
or
\u00a0
when
\u00a0
the
\u00a0
contractually
\u00a0
specified
\u00a0
right
\u00a0
or
\u00a0
obligation
\u00a0
is
discharged,
\u00a0
cancelled,
\u00a0
or
\u00a0
when
\u00a0
it
\u00a0
expires.
\u00a0
The
\u00a0
status
\u00a0
of
\u00a0
financial
\u00a0
instruments
\u00a0
is
\u00a0
evaluated
\u00a0
at
\u00a0
the
\u00a0
end
\u00a0
of
\u00a0
each
reporting
\u00a0
period.
Financial
\u00a0
instruments
\u00a0
at
\u00a0
amortised
\u00a0
cost
Financial
\u00a0
assets
Financial
\u00a0
assets
\u00a0
measured
\u00a0
at
\u00a0
amortised
\u00a0
cost
\u00a0
include
\u00a0
cash
\u00a0
and
\u00a0
cash
\u00a0
equivalents,
\u00a0
investments
\u00a0
in
\u00a0
debt
instruments,
\u00a0
commercial
\u00a0
papers,
\u00a0
trade
\u00a0
receivables
\u00a0
and
\u00a0
other
\u00a0
receivables.
\u00a0
The
\u00a0
assets
\u00a0
are
\u00a0
initially
recognised
\u00a0
at
\u00a0
fair
\u00a0
value
\u00a0
less
\u00a0
the
\u00a0
transaction
\u00a0
costs,
\u00a0
and
\u00a0
are
\u00a0
subsequently
\u00a0
measured
\u00a0
at
\u00a0
amortised
\u00a0
cost
\u00a0
by
using
\u00a0
the
\u00a0
effective
\u00a0
interest
\u00a0
rate
\u00a0
method.
\u00a0
These
\u00a0
assets
\u00a0
are
\u00a0
held
\u00a0
for
\u00a0
collecting
\u00a0
contractual
\u00a0
cash
\u00a0
flows,
\u00a0
which
are
\u00a0
solely
\u00a0
payments
\u00a0
of
\u00a0
principal
\u00a0
and
\u00a0
interest.
\u00a0
Interest
\u00a0
income
\u00a0
is
\u00a0
recognised
\u00a0
as
\u00a0
financial
\u00a0
income
\u00a0
in
\u00a0
the
statement
\u00a0
of
\u00a0
income.
The
\u00a0
expected
\u00a0
credit
\u00a0
losses
\u00a0
associated
\u00a0
with
\u00a0
investments
\u00a0
in
\u00a0
debt
\u00a0
instruments
\u00a0
and
\u00a0
commercial
\u00a0
papers
\u00a0
carried
at
\u00a0
amortised
\u00a0
cost
\u00a0
are
\u00a0
assessed
\u00a0
on
\u00a0
a
\u00a0
forward-looking
\u00a0
basis
\u00a0
based
\u00a0
on
\u00a0
investment
\u00a0
maturity
\u00a0
dates
\u00a0
and
counterparty
\u00a0
credit
\u00a0
risk
\u00a0
on
\u00a0
a
\u00a0
quarterly
\u00a0
basis.
The
\u00a0
Group
\u00a0
applies
\u00a0
the
\u00a0
simplified
\u00a0
method
\u00a0
in
\u00a0
IFRS
\u00a0
9
\u00a0
for
\u00a0
the
\u00a0
expected
\u00a0
credit
\u00a0
losses
\u00a0
from
\u00a0
its
\u00a0
trade
\u00a0
receivables.
This
\u00a0
requires
\u00a0
expected
\u00a0
lifetime
\u00a0
credit
\u00a0
losses
\u00a0
to
\u00a0
be
\u00a0
recognised
\u00a0
from
\u00a0
the
\u00a0
initial
\u00a0
recognition
\u00a0
of
\u00a0
the
\u00a0
receivables,
as
\u00a0
defined
\u00a0
in
\u00a0
Note
\u00a0
4.2.
\u00a0
Trade
\u00a0
receivables
\u00a0
and
\u00a0
contract
\u00a0
assets
\u00a0
and
\u00a0
liabilities.
Financial
\u00a0
Liabilities
Financial
\u00a0
liabilities
\u00a0
measured
\u00a0
at
\u00a0
amortised
\u00a0
cost
\u00a0
include
\u00a0
trade
\u00a0
and
\u00a0
other
\u00a0
payables,
\u00a0
loans,
\u00a0
and
\u00a0
borrowings.
These
\u00a0
liabilities
\u00a0
are
\u00a0
initially
\u00a0
recognised
\u00a0
at
\u00a0
fair
\u00a0
value
\u00a0
less
\u00a0
the
\u00a0
transaction
\u00a0
costs
\u00a0
related
\u00a0
to
\u00a0
the
\u00a0
acquisition
\u00a0
of
these
\u00a0
liabilities.
\u00a0
The
\u00a0
liabilities
\u00a0
are
\u00a0
subsequently
\u00a0
classified
\u00a0
and
\u00a0
measured
\u00a0
using
\u00a0
the
\u00a0
effective
\u00a0
interest
\u00a0
rate
method
\u00a0
by
\u00a0
amortising
\u00a0
the
\u00a0
discounted
\u00a0
interest
\u00a0
payments
\u00a0
over
\u00a0
the
\u00a0
maturity
\u00a0
of
\u00a0
the
\u00a0
liabilities.
\u00a0
Interest
\u00a0
expense
is
\u00a0
recognised
\u00a0
in
\u00a0
the
\u00a0
financial
\u00a0
expense
\u00a0
in
\u00a0
the
\u00a0
statement
\u00a0
of
\u00a0
income.
\u00a0
\n
\u00a0
\n
Financial
\u00a0
instruments
\u00a0
at
\u00a0
fair
\u00a0
value
\u00a0
through
\u00a0
the
\u00a0
statement
\u00a0
of
\u00a0
income
Financial
\u00a0
assets
Financial
\u00a0
assets
\u00a0
measured
\u00a0
at
\u00a0
fair
\u00a0
value
\u00a0
through
\u00a0
the
\u00a0
statement
\u00a0
of
\u00a0
income
\u00a0
include
\u00a0
other
\u00a0
financial
investments,
\u00a0
other
\u00a0
short-term
\u00a0
cash
\u00a0
investments
\u00a0
and
\u00a0
derivatives.
\u00a0
These
\u00a0
financial
\u00a0
investments
\u00a0
include
W\u00e4rtsil\u00e4\u2019s
\u00a0
investments
\u00a0
in
\u00a0
other
\u00a0
companies
\u00a0
(both
\u00a0
listed
\u00a0
and
\u00a0
unlisted
\u00a0
shares).
Changes
\u00a0
in
\u00a0
fair
\u00a0
value
\u00a0
and
\u00a0
gains
\u00a0
and
\u00a0
losses
\u00a0
at
\u00a0
derecognition
\u00a0
of
\u00a0
these
\u00a0
financial
\u00a0
assets
\u00a0
are
\u00a0
recognised
\u00a0
in
\u00a0
the
statement
\u00a0
of
\u00a0
income.
Gains
\u00a0
and
\u00a0
losses
\u00a0
from
\u00a0
fair
\u00a0
valuation
\u00a0
and
\u00a0
the
\u00a0
disposal
\u00a0
of
\u00a0
shares
\u00a0
that
\u00a0
are
\u00a0
attributable
\u00a0
to
\u00a0
operating
\u00a0
activities
are
\u00a0
included
\u00a0
in
\u00a0
operating
\u00a0
income,
\u00a0
while
\u00a0
gains
\u00a0
and
\u00a0
losses
\u00a0
from
\u00a0
fair
\u00a0
valuation
\u00a0
and
\u00a0
the
\u00a0
disposal
\u00a0
of
\u00a0
other
shares
\u00a0
are
\u00a0
included
\u00a0
in
\u00a0
financial
\u00a0
income
\u00a0
and
\u00a0
expenses.
Financial
\u00a0
liabilities
Financial
\u00a0
liabilities
\u00a0
recognised
\u00a0
at
\u00a0
fair
\u00a0
value
\u00a0
through
\u00a0
the
\u00a0
statement
\u00a0
of
\u00a0
income
\u00a0
include
\u00a0
derivatives
\u00a0
that
\u00a0
are
\u00a0
not
eligible
\u00a0
for
\u00a0
hedge
\u00a0
accounting.
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
Changes
\u00a0
in
\u00a0
fair
\u00a0
value
\u00a0
and
\u00a0
gains
\u00a0
and
\u00a0
losses
\u00a0
at
\u00a0
derecognition
\u00a0
of
\u00a0
these
\u00a0
financial
\u00a0
assets
\u00a0
are
\u00a0
recognised
\u00a0
in
\u00a0
the
statement
\u00a0
of
\u00a0
income.
Information
\u00a0
on
\u00a0
measurement
\u00a0
categories
\u00a0
of
\u00a0
derivatives
\u00a0
and
\u00a0
financial
\u00a0
instruments
\u00a0
in
\u00a0
hedge
\u00a0
accounting
\u00a0
are
presented
\u00a0
in
\u00a0
Note
\u00a0
5.7.
\u00a0
Derivative
\u00a0
financial
\u00a0
instruments.
2023
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
MEUR
Measured
at
\u00a0
amortised
cost
At
\u00a0
fair
\u00a0
value
\u00a0
through
\u00a0
the
\u00a0
statement
\u00a0
of
\u00a0
income
Carrying
\u00a0
amounts
\u00a0
of
\u00a0
the
\u00a0
statement
\u00a0
of
\u00a0
financial
\u00a0
position
\u00a0
items
Fair
\u00a0
value
Non-current
\u00a0
financial
\u00a0
assets
Interest-bearing
\u00a0
investments
4
4
4
Trade
\u00a0
receivables
2
2
2
Derivatives,
\u00a0
included
\u00a0
in
\u00a0
hedge
\u00a0
accounting
13
13
13
Derivatives,
\u00a0
no
\u00a0
hedge
\u00a0
accounting
4
4
4
Other
\u00a0
investments
19
19
19
Other
\u00a0
receivables
1
1
1
Current
\u00a0
financial
\u00a0
assets
Trade
\u00a0
receivables
989
989
989
Trade
\u00a0
receivables
\u00a0
for
\u00a0
sale
2
2
2
Derivatives,
\u00a0
included
\u00a0
in
\u00a0
hedge
\u00a0
accounting
20
20
20
Derivatives,
\u00a0
no
\u00a0
hedge
\u00a0
accounting
12
12
12
Other
\u00a0
financial
\u00a0
receivables
3
3
3
Cash
\u00a0
and
\u00a0
cash
\u00a0
equivalents
809
10
819
819
Carrying
\u00a0
amount
\u00a0
by
\u00a0
measurement
\u00a0
category
1
\u00a0
804
83
1
\u00a0
887
1
\u00a0
887
Non-current
\u00a0
financial
\u00a0
liabilities
Interest-bearing
\u00a0
debt
739
739
733
Derivatives,
\u00a0
no
\u00a0
hedge
\u00a0
accounting
12
12
12
Current
\u00a0
financial
\u00a0
liabilities
Interest-bearing
\u00a0
debt
119
119
119
Trade
\u00a0
payables
686
686
686
Derivatives,
\u00a0
included
\u00a0
in
\u00a0
hedge
\u00a0
accounting
3
3
3
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
Derivatives,
\u00a0
no
\u00a0
hedge
\u00a0
accounting
2
2
2
Other
\u00a0
financial
\u00a0
liabilities
9
9
9
Carrying
\u00a0
amount
\u00a0
by
\u00a0
measurement
\u00a0
category
1
\u00a0
553
16
1
\u00a0
569
1
\u00a0
563
\u00a0
\n
\u00a0
\n
Fair
\u00a0
value
\u00a0
hierarchy
Accounting
\u00a0
principles
W\u00e4rtsil\u00e4
\u00a0
uses
\u00a0
the
\u00a0
following
\u00a0
categorisation
\u00a0
for
\u00a0
determining
\u00a0
and
\u00a0
disclosing
\u00a0
the
\u00a0
fair
\u00a0
value
\u00a0
of
\u00a0
financial
\u00a0
instruments
by
\u00a0
valuation
\u00a0
technique:
Level
\u00a0
1:
\u00a0
The
\u00a0
quoted
\u00a0
prices
\u00a0
for
\u00a0
the
\u00a0
financial
\u00a0
instruments
\u00a0
are
\u00a0
directly
\u00a0
and
\u00a0
regularly
\u00a0
available
\u00a0
on
\u00a0
active
\u00a0
publicly
traded
\u00a0
markets
\u00a0
or
\u00a0
other
\u00a0
publicly
\u00a0
available
\u00a0
sources.
Level
\u00a0
2:
\u00a0
The
\u00a0
prices
\u00a0
for
\u00a0
the
\u00a0
financial
\u00a0
instruments
\u00a0
are
\u00a0
determined
\u00a0
by
\u00a0
using
\u00a0
a
\u00a0
valuation
\u00a0
method
\u00a0
for
\u00a0
which
\u00a0
the
\u00a0
input
data
\u00a0
is
\u00a0
directly
\u00a0
or
\u00a0
indirectly
\u00a0
available
\u00a0
on
\u00a0
a
\u00a0
publicly
\u00a0
traded
\u00a0
markets
\u00a0
or
\u00a0
other
\u00a0
publicly
\u00a0
available
\u00a0
sources.
Level
\u00a0
3:
\u00a0
The
\u00a0
financial
\u00a0
instruments
\u00a0
are
\u00a0
categorised
\u00a0
into
\u00a0
level
\u00a0
3
\u00a0
fair
\u00a0
value
\u00a0
if
\u00a0
the
\u00a0
prices
\u00a0
for
\u00a0
the
\u00a0
inputs
\u00a0
of
\u00a0
the
valuation
\u00a0
method
\u00a0
are
\u00a0
not
\u00a0
publicly
\u00a0
available,
\u00a0
and
\u00a0
when
\u00a0
the
\u00a0
financial
\u00a0
instruments
\u00a0
are
\u00a0
measured
\u00a0
using
\u00a0
an
independent
\u00a0
valuation
\u00a0
method.
\u00a0
Specific
\u00a0
valuation
\u00a0
techniques
\u00a0
used
\u00a0
to
\u00a0
value
\u00a0
financial
\u00a0
instruments
\u00a0
include:
\u2022
\u00a0
the
\u00a0
fair
\u00a0
value
\u00a0
of
\u00a0
forward
\u00a0
foreign
\u00a0
exchange
\u00a0
contracts
\u00a0
is
\u00a0
determined
\u00a0
by
\u00a0
using
\u00a0
forward
\u00a0
rates
\u00a0
at
\u00a0
the
\u00a0
end
\u00a0
of
\u00a0
the
reporting
\u00a0
period
\u2022
\u00a0
the
\u00a0
fair
\u00a0
value
\u00a0
of
\u00a0
interest
\u00a0
rate
\u00a0
swaps
\u00a0
is
\u00a0
calculated
\u00a0
as
\u00a0
being
\u00a0
the
\u00a0
present
\u00a0
value
\u00a0
of
\u00a0
the
\u00a0
estimated
\u00a0
future
\u00a0
cash
\u00a0
flows
based
\u00a0
on
\u00a0
observable
\u00a0
yield
\u00a0
curves
\u2022
\u00a0
the
\u00a0
use
\u00a0
of
\u00a0
quoted
\u00a0
market
\u00a0
prices
\u00a0
or
\u00a0
dealer
\u00a0
quotes
\u00a0
for
\u00a0
similar
\u00a0
instruments
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
-
2023
2022
MEUR
Level
\u00a0
2
Level
\u00a0
3
Level
\u00a0
2
Level
\u00a0
3
Financial
\u00a0
assets
Other
\u00a0
investments
19
19
Interest-bearing
\u00a0
investments,
\u00a0
non-current
4
4
Other
\u00a0
receivables,
\u00a0
non-current
1
1
Derivatives
49
59
Financial
\u00a0
liabilities
Interest-bearing
\u00a0
debt,
\u00a0
non-current*
733
726
\u00a0
\n
Derivatives
16
18
*
\u00a0
Measured
\u00a0
at
\u00a0
amortised
\u00a0
cost
\u00a0
in
\u00a0
the
\u00a0
statement
\u00a0
of
\u00a0
financial
\u00a0
position.
Additional
\u00a0
information
\u00a0
on
\u00a0
financial
\u00a0
liabilities
\u00a0
is
\u00a0
presented
\u00a0
in
\u00a0
Note
\u00a0
5.6.
\u00a0
Maturity
\u00a0
analysis
\u00a0
of
\u00a0
financial
\u00a0
liabilities.
Other
\u00a0
investments
Other
\u00a0
investments
\u00a0
include
\u00a0
unlisted
\u00a0
shares
\u00a0
carried
\u00a0
at
\u00a0
fair
\u00a0
value.
\u00a0
These
\u00a0
investments
\u00a0
are
\u00a0
valued
\u00a0
using
\u00a0
certain
DCF
\u00a0
models
\u00a0
where
\u00a0
critical
\u00a0
assumptions
\u00a0
relate
\u00a0
to
\u00a0
WACC
\u00a0
level
\u00a0
and
\u00a0
expected
\u00a0
cash
\u00a0
flows
\u00a0
from
\u00a0
future
\u00a0
dividends.
However,
\u00a0
the
\u00a0
results
\u00a0
from
\u00a0
different
\u00a0
scenarios
\u00a0
vary
\u00a0
a
\u00a0
lot.
\u00a0
The
\u00a0
management
\u00a0
therefore
\u00a0
considers
\u00a0
that
\u00a0
the
valuation
\u00a0
at
\u00a0
amortised
\u00a0
cost
\u00a0
is
\u00a0
the
\u00a0
best
\u00a0
estimate
\u00a0
of
\u00a0
fair
\u00a0
value.
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
MEUR
2023
2022
Carrying
\u00a0
amount
\u00a0
on
\u00a0
1
\u00a0
January
19
18
Acquired
\u00a0
shares
0
1
Carrying
\u00a0
amount
\u00a0
on
\u00a0
31
\u00a0
December
19
19
In
\u00a0
2023,
\u00a0
the
\u00a0
cost
\u00a0
for
\u00a0
other
\u00a0
unlisted
\u00a0
shares
\u00a0
(level
\u00a0
3)
\u00a0
was
\u00a0
EUR
\u00a0
19
\u00a0
million
\u00a0
(19),
\u00a0
and
\u00a0
the
\u00a0
market
\u00a0
value
\u00a0
of
\u00a0
them
\u00a0
was
EUR
\u00a0
19
\u00a0
million
\u00a0
(19).
5.6.
\u00a0
MATURITY
\u00a0
ANALYSIS
\u00a0
OF
\u00a0
FINANCIAL
\u00a0
LIABILITIES
2023
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
Current
Non-
current
MEUR
<
\u00a0
1
\u00a0
year
1\u20133
\u00a0
years
3\u20135
\u00a0
years
>
\u00a0
5
\u00a0
years
Total
Loans
\u00a0
from
\u00a0
other
\u00a0
financial
\u00a0
institutions*
75
239
200
75
590
Lease
\u00a0
liabilities
53
81
58
128
320
Trade
\u00a0
payables
686
686
Interest
\u00a0
rate
\u00a0
derivatives,
\u00a0
payable
5
87
103
0
196
Interest
\u00a0
rate
\u00a0
derivatives,
\u00a0
receivable
-6
-76
-104
-1
-188
Foreign
\u00a0
exchange
\u00a0
forwards,
\u00a0
payable
1
\u00a0
953
0
Foreign
\u00a0
exchange
\u00a0
forwards,
\u00a0
receivable
-1
\u00a0
978
0
Other
\u00a0
liabilities
9
9
Total
797
331
258
202
1
\u00a0
613
*
\u00a0
Estimated
\u00a0
interest
\u00a0
expenses,
\u00a0
total
16
23
10
2
53
Estimated
\u00a0
contractual
\u00a0
cash
\u00a0
flows
813
354
268
204
1
\u00a0
666
*
\u00a0
Interest
\u00a0
expenses
\u00a0
for
\u00a0
long-term
\u00a0
loans
\u00a0
are
\u00a0
calculated
\u00a0
by
\u00a0
using
\u00a0
the
\u00a0
average
\u00a0
interest
\u00a0
rate
\u00a0
prevailing
\u00a0
on
\u00a0
31
December
\u00a0
2023.
Fair
\u00a0
values
\u00a0
of
\u00a0
financial
\u00a0
liabilities,
\u00a0
as
\u00a0
well
\u00a0
as
\u00a0
information
\u00a0
on
\u00a0
measurement
\u00a0
categories
\u00a0
of
\u00a0
financial
\u00a0
liabilities,
\u00a0
are
presented
\u00a0
in
\u00a0
Note
\u00a0
5.2.
\u00a0
Financial
\u00a0
assets
\u00a0
and
\u00a0
liabilities
\u00a0
by
\u00a0
measurement
\u00a0
category.
", "dimensions": { "concept": "ifrs-full:DisclosureOfFinancialInstrumentsExplanatory", "language": "en", "entity": "scheme:743700G7A9J1PHM3X223", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00" } }, "ID_66": { "value": "
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
Accounting
\u00a0
principles
Financial
\u00a0
instruments
Financial
\u00a0
instruments
\u00a0
are
\u00a0
initially
\u00a0
recognised
\u00a0
at
\u00a0
fair
\u00a0
value.
\u00a0
Subsequently,
\u00a0
financial
\u00a0
assets
\u00a0
are
\u00a0
classified
\u00a0
and
measured
\u00a0
at
\u00a0
amortised
\u00a0
cost
\u00a0
or
\u00a0
at
\u00a0
fair
\u00a0
value
\u00a0
through
\u00a0
statement
\u00a0
of
\u00a0
income.
\u00a0
The
\u00a0
classification
\u00a0
of
\u00a0
financial
assets
\u00a0
is
\u00a0
defined
\u00a0
by
\u00a0
the
\u00a0
business
\u00a0
model
\u00a0
and
\u00a0
the
\u00a0
cash
\u00a0
flow
\u00a0
characteristics
\u00a0
of
\u00a0
the
\u00a0
asset.
\u00a0
Financial
\u00a0
liabilities
are
\u00a0
subsequently
\u00a0
classified
\u00a0
and
\u00a0
measured
\u00a0
at
\u00a0
amortised
\u00a0
cost
\u00a0
or
\u00a0
at
\u00a0
fair
\u00a0
value
\u00a0
through
\u00a0
statement
\u00a0
of
\u00a0
income.
Financial
\u00a0
instruments
\u00a0
are
\u00a0
classified
\u00a0
as
\u00a0
current
\u00a0
financial
\u00a0
instruments
\u00a0
unless
\u00a0
the
\u00a0
maturity
\u00a0
of
\u00a0
the
\u00a0
financial
instrument
\u00a0
exceeds
\u00a0
12
\u00a0
months
\u00a0
from
\u00a0
the
\u00a0
end
\u00a0
of
\u00a0
the
\u00a0
reporting
\u00a0
period.
\u00a0
Financial
\u00a0
instruments
\u00a0
are
\u00a0
derecognised
only
\u00a0
when
\u00a0
the
\u00a0
financial
\u00a0
instrument
\u00a0
is
\u00a0
extinguished,
\u00a0
or
\u00a0
when
\u00a0
the
\u00a0
contractually
\u00a0
specified
\u00a0
right
\u00a0
or
\u00a0
obligation
\u00a0
is
discharged,
\u00a0
cancelled,
\u00a0
or
\u00a0
when
\u00a0
it
\u00a0
expires.
\u00a0
The
\u00a0
status
\u00a0
of
\u00a0
financial
\u00a0
instruments
\u00a0
is
\u00a0
evaluated
\u00a0
at
\u00a0
the
\u00a0
end
\u00a0
of
\u00a0
each
reporting
\u00a0
period.
Financial
\u00a0
instruments
\u00a0
at
\u00a0
amortised
\u00a0
cost
Financial
\u00a0
assets
Financial
\u00a0
assets
\u00a0
measured
\u00a0
at
\u00a0
amortised
\u00a0
cost
\u00a0
include
\u00a0
cash
\u00a0
and
\u00a0
cash
\u00a0
equivalents,
\u00a0
investments
\u00a0
in
\u00a0
debt
instruments,
\u00a0
commercial
\u00a0
papers,
\u00a0
trade
\u00a0
receivables
\u00a0
and
\u00a0
other
\u00a0
receivables.
\u00a0
The
\u00a0
assets
\u00a0
are
\u00a0
initially
recognised
\u00a0
at
\u00a0
fair
\u00a0
value
\u00a0
less
\u00a0
the
\u00a0
transaction
\u00a0
costs,
\u00a0
and
\u00a0
are
\u00a0
subsequently
\u00a0
measured
\u00a0
at
\u00a0
amortised
\u00a0
cost
\u00a0
by
using
\u00a0
the
\u00a0
effective
\u00a0
interest
\u00a0
rate
\u00a0
method.
\u00a0
These
\u00a0
assets
\u00a0
are
\u00a0
held
\u00a0
for
\u00a0
collecting
\u00a0
contractual
\u00a0
cash
\u00a0
flows,
\u00a0
which
are
\u00a0
solely
\u00a0
payments
\u00a0
of
\u00a0
principal
\u00a0
and
\u00a0
interest.
\u00a0
Interest
\u00a0
income
\u00a0
is
\u00a0
recognised
\u00a0
as
\u00a0
financial
\u00a0
income
\u00a0
in
\u00a0
the
statement
\u00a0
of
\u00a0
income.
The
\u00a0
expected
\u00a0
credit
\u00a0
losses
\u00a0
associated
\u00a0
with
\u00a0
investments
\u00a0
in
\u00a0
debt
\u00a0
instruments
\u00a0
and
\u00a0
commercial
\u00a0
papers
\u00a0
carried
at
\u00a0
amortised
\u00a0
cost
\u00a0
are
\u00a0
assessed
\u00a0
on
\u00a0
a
\u00a0
forward-looking
\u00a0
basis
\u00a0
based
\u00a0
on
\u00a0
investment
\u00a0
maturity
\u00a0
dates
\u00a0
and
counterparty
\u00a0
credit
\u00a0
risk
\u00a0
on
\u00a0
a
\u00a0
quarterly
\u00a0
basis.
The
\u00a0
Group
\u00a0
applies
\u00a0
the
\u00a0
simplified
\u00a0
method
\u00a0
in
\u00a0
IFRS
\u00a0
9
\u00a0
for
\u00a0
the
\u00a0
expected
\u00a0
credit
\u00a0
losses
\u00a0
from
\u00a0
its
\u00a0
trade
\u00a0
receivables.
This
\u00a0
requires
\u00a0
expected
\u00a0
lifetime
\u00a0
credit
\u00a0
losses
\u00a0
to
\u00a0
be
\u00a0
recognised
\u00a0
from
\u00a0
the
\u00a0
initial
\u00a0
recognition
\u00a0
of
\u00a0
the
\u00a0
receivables,
as
\u00a0
defined
\u00a0
in
\u00a0
Note
\u00a0
4.2.
\u00a0
Trade
\u00a0
receivables
\u00a0
and
\u00a0
contract
\u00a0
assets
\u00a0
and
\u00a0
liabilities.
Financial
\u00a0
Liabilities
Financial
\u00a0
liabilities
\u00a0
measured
\u00a0
at
\u00a0
amortised
\u00a0
cost
\u00a0
include
\u00a0
trade
\u00a0
and
\u00a0
other
\u00a0
payables,
\u00a0
loans,
\u00a0
and
\u00a0
borrowings.
These
\u00a0
liabilities
\u00a0
are
\u00a0
initially
\u00a0
recognised
\u00a0
at
\u00a0
fair
\u00a0
value
\u00a0
less
\u00a0
the
\u00a0
transaction
\u00a0
costs
\u00a0
related
\u00a0
to
\u00a0
the
\u00a0
acquisition
\u00a0
of
these
\u00a0
liabilities.
\u00a0
The
\u00a0
liabilities
\u00a0
are
\u00a0
subsequently
\u00a0
classified
\u00a0
and
\u00a0
measured
\u00a0
using
\u00a0
the
\u00a0
effective
\u00a0
interest
\u00a0
rate
method
\u00a0
by
\u00a0
amortising
\u00a0
the
\u00a0
discounted
\u00a0
interest
\u00a0
payments
\u00a0
over
\u00a0
the
\u00a0
maturity
\u00a0
of
\u00a0
the
\u00a0
liabilities.
\u00a0
Interest
\u00a0
expense
is
\u00a0
recognised
\u00a0
in
\u00a0
the
\u00a0
financial
\u00a0
expense
\u00a0
in
\u00a0
the
\u00a0
statement
\u00a0
of
\u00a0
income.
\u00a0
\n
\u00a0
\n
Financial
\u00a0
instruments
\u00a0
at
\u00a0
fair
\u00a0
value
\u00a0
through
\u00a0
the
\u00a0
statement
\u00a0
of
\u00a0
income
Financial
\u00a0
assets
Financial
\u00a0
assets
\u00a0
measured
\u00a0
at
\u00a0
fair
\u00a0
value
\u00a0
through
\u00a0
the
\u00a0
statement
\u00a0
of
\u00a0
income
\u00a0
include
\u00a0
other
\u00a0
financial
investments,
\u00a0
other
\u00a0
short-term
\u00a0
cash
\u00a0
investments
\u00a0
and
\u00a0
derivatives.
\u00a0
These
\u00a0
financial
\u00a0
investments
\u00a0
include
W\u00e4rtsil\u00e4\u2019s
\u00a0
investments
\u00a0
in
\u00a0
other
\u00a0
companies
\u00a0
(both
\u00a0
listed
\u00a0
and
\u00a0
unlisted
\u00a0
shares).
Changes
\u00a0
in
\u00a0
fair
\u00a0
value
\u00a0
and
\u00a0
gains
\u00a0
and
\u00a0
losses
\u00a0
at
\u00a0
derecognition
\u00a0
of
\u00a0
these
\u00a0
financial
\u00a0
assets
\u00a0
are
\u00a0
recognised
\u00a0
in
\u00a0
the
statement
\u00a0
of
\u00a0
income.
Gains
\u00a0
and
\u00a0
losses
\u00a0
from
\u00a0
fair
\u00a0
valuation
\u00a0
and
\u00a0
the
\u00a0
disposal
\u00a0
of
\u00a0
shares
\u00a0
that
\u00a0
are
\u00a0
attributable
\u00a0
to
\u00a0
operating
\u00a0
activities
are
\u00a0
included
\u00a0
in
\u00a0
operating
\u00a0
income,
\u00a0
while
\u00a0
gains
\u00a0
and
\u00a0
losses
\u00a0
from
\u00a0
fair
\u00a0
valuation
\u00a0
and
\u00a0
the
\u00a0
disposal
\u00a0
of
\u00a0
other
shares
\u00a0
are
\u00a0
included
\u00a0
in
\u00a0
financial
\u00a0
income
\u00a0
and
\u00a0
expenses.
Financial
\u00a0
liabilities
Financial
\u00a0
liabilities
\u00a0
recognised
\u00a0
at
\u00a0
fair
\u00a0
value
\u00a0
through
\u00a0
the
\u00a0
statement
\u00a0
of
\u00a0
income
\u00a0
include
\u00a0
derivatives
\u00a0
that
\u00a0
are
\u00a0
not
eligible
\u00a0
for
\u00a0
hedge
\u00a0
accounting.
\u00a0
\n
\u00a0
\n
Changes
\u00a0
in
\u00a0
fair
\u00a0
value
\u00a0
and
\u00a0
gains
\u00a0
and
\u00a0
losses
\u00a0
at
\u00a0
derecognition
\u00a0
of
\u00a0
these
\u00a0
financial
\u00a0
assets
\u00a0
are
\u00a0
recognised
\u00a0
in
\u00a0
the
statement
\u00a0
of
\u00a0
income.
Information
\u00a0
on
\u00a0
measurement
\u00a0
categories
\u00a0
of
\u00a0
derivatives
\u00a0
and
\u00a0
financial
\u00a0
instruments
\u00a0
in
\u00a0
hedge
\u00a0
accounting
\u00a0
are
presented
\u00a0
in
\u00a0
Note
\u00a0
5.7.
\u00a0
Derivative
\u00a0
financial
\u00a0
instruments.
", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForFinancialInstrumentsExplanatory", "language": "en", "entity": "scheme:743700G7A9J1PHM3X223", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00" } }, "ID_67": { "value": "
\u00a0
\n
\u00a0
\n
Financial
\u00a0
instruments
\u00a0
at
\u00a0
fair
\u00a0
value
\u00a0
through
\u00a0
the
\u00a0
statement
\u00a0
of
\u00a0
income
Financial
\u00a0
assets
Financial
\u00a0
assets
\u00a0
measured
\u00a0
at
\u00a0
fair
\u00a0
value
\u00a0
through
\u00a0
the
\u00a0
statement
\u00a0
of
\u00a0
income
\u00a0
include
\u00a0
other
\u00a0
financial
investments,
\u00a0
other
\u00a0
short-term
\u00a0
cash
\u00a0
investments
\u00a0
and
\u00a0
derivatives.
\u00a0
These
\u00a0
financial
\u00a0
investments
\u00a0
include
W\u00e4rtsil\u00e4\u2019s
\u00a0
investments
\u00a0
in
\u00a0
other
\u00a0
companies
\u00a0
(both
\u00a0
listed
\u00a0
and
\u00a0
unlisted
\u00a0
shares).
Changes
\u00a0
in
\u00a0
fair
\u00a0
value
\u00a0
and
\u00a0
gains
\u00a0
and
\u00a0
losses
\u00a0
at
\u00a0
derecognition
\u00a0
of
\u00a0
these
\u00a0
financial
\u00a0
assets
\u00a0
are
\u00a0
recognised
\u00a0
in
\u00a0
the
statement
\u00a0
of
\u00a0
income.
Gains
\u00a0
and
\u00a0
losses
\u00a0
from
\u00a0
fair
\u00a0
valuation
\u00a0
and
\u00a0
the
\u00a0
disposal
\u00a0
of
\u00a0
shares
\u00a0
that
\u00a0
are
\u00a0
attributable
\u00a0
to
\u00a0
operating
\u00a0
activities
are
\u00a0
included
\u00a0
in
\u00a0
operating
\u00a0
income,
\u00a0
while
\u00a0
gains
\u00a0
and
\u00a0
losses
\u00a0
from
\u00a0
fair
\u00a0
valuation
\u00a0
and
\u00a0
the
\u00a0
disposal
\u00a0
of
\u00a0
other
shares
\u00a0
are
\u00a0
included
\u00a0
in
\u00a0
financial
\u00a0
income
\u00a0
and
\u00a0
expenses.
Financial
\u00a0
liabilities
Financial
\u00a0
liabilities
\u00a0
recognised
\u00a0
at
\u00a0
fair
\u00a0
value
\u00a0
through
\u00a0
the
\u00a0
statement
\u00a0
of
\u00a0
income
\u00a0
include
\u00a0
derivatives
\u00a0
that
\u00a0
are
\u00a0
not
eligible
\u00a0
for
\u00a0
hedge
\u00a0
accounting.
\u00a0
\n
\u00a0
\n
Changes
\u00a0
in
\u00a0
fair
\u00a0
value
\u00a0
and
\u00a0
gains
\u00a0
and
\u00a0
losses
\u00a0
at
\u00a0
derecognition
\u00a0
of
\u00a0
these
\u00a0
financial
\u00a0
assets
\u00a0
are
\u00a0
recognised
\u00a0
in
\u00a0
the
statement
\u00a0
of
\u00a0
income.
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
MEUR
Measured
at
\u00a0
amortised
cost
At
\u00a0
fair
\u00a0
value
\u00a0
through
\u00a0
the
\u00a0
statement
\u00a0
of
\u00a0
income
Carrying
\u00a0
amounts
\u00a0
of
\u00a0
the
\u00a0
statement
\u00a0
of
\u00a0
financial
\u00a0
position
\u00a0
items
Fair
\u00a0
value
Non-current
\u00a0
financial
\u00a0
assets
Interest-bearing
\u00a0
investments
4
4
4
Trade
\u00a0
receivables
2
2
2
Derivatives,
\u00a0
included
\u00a0
in
\u00a0
hedge
\u00a0
accounting
13
13
13
Derivatives,
\u00a0
no
\u00a0
hedge
\u00a0
accounting
4
4
4
Other
\u00a0
investments
19
19
19
Other
\u00a0
receivables
1
1
1
Current
\u00a0
financial
\u00a0
assets
Trade
\u00a0
receivables
989
989
989
Trade
\u00a0
receivables
\u00a0
for
\u00a0
sale
2
2
2
Derivatives,
\u00a0
included
\u00a0
in
\u00a0
hedge
\u00a0
accounting
20
20
20
Derivatives,
\u00a0
no
\u00a0
hedge
\u00a0
accounting
12
12
12
Other
\u00a0
financial
\u00a0
receivables
3
3
3
Cash
\u00a0
and
\u00a0
cash
\u00a0
equivalents
809
10
819
819
Carrying
\u00a0
amount
\u00a0
by
\u00a0
measurement
\u00a0
category
1
\u00a0
804
83
1
\u00a0
887
1
\u00a0
887
Non-current
\u00a0
financial
\u00a0
liabilities
Interest-bearing
\u00a0
debt
739
739
733
Derivatives,
\u00a0
no
\u00a0
hedge
\u00a0
accounting
12
12
12
Current
\u00a0
financial
\u00a0
liabilities
Interest-bearing
\u00a0
debt
119
119
119
Trade
\u00a0
payables
686
686
686
Derivatives,
\u00a0
included
\u00a0
in
\u00a0
hedge
\u00a0
accounting
3
3
3
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
Derivatives,
\u00a0
no
\u00a0
hedge
\u00a0
accounting
2
2
2
Other
\u00a0
financial
\u00a0
liabilities
9
9
9
Carrying
\u00a0
amount
\u00a0
by
\u00a0
measurement
\u00a0
category
1
\u00a0
553
16
1
\u00a0
569
1
\u00a0
563
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
-
2023
2022
MEUR
Level
\u00a0
2
Level
\u00a0
3
Level
\u00a0
2
Level
\u00a0
3
Financial
\u00a0
assets
Other
\u00a0
investments
19
19
Interest-bearing
\u00a0
investments,
\u00a0
non-current
4
4
Other
\u00a0
receivables,
\u00a0
non-current
1
1
Derivatives
49
59
Financial
\u00a0
liabilities
Interest-bearing
\u00a0
debt,
\u00a0
non-current*
733
726
\u00a0
\n
Derivatives
16
18
5.7.
\u00a0
DERIVATIVE
\u00a0
FINANCIAL
\u00a0
INSTRUMENTS
Accounting
\u00a0
principles
Derivatives
\u00a0
and
\u00a0
hedge
\u00a0
accounting
Derivatives
\u00a0
including
\u00a0
embedded
\u00a0
derivatives
\u00a0
are
\u00a0
initially
\u00a0
recognised
\u00a0
on
\u00a0
the
\u00a0
statement
\u00a0
of
\u00a0
financial
\u00a0
position
at
fair
\u00a0
value
\u00a0
and
\u00a0
are
\u00a0
subsequently
\u00a0
classified
\u00a0
and
\u00a0
measured
\u00a0
at
\u00a0
their
\u00a0
fair
\u00a0
value
\u00a0
at
\u00a0
the
\u00a0
end
\u00a0
of
\u00a0
each
\u00a0
reporting
period.
\u00a0
Gains
\u00a0
and
\u00a0
losses
\u00a0
from
\u00a0
the
\u00a0
fair
\u00a0
value
\u00a0
measurement
\u00a0
are
\u00a0
recognised
\u00a0
in
\u00a0
the
\u00a0
statement
\u00a0
of
\u00a0
income
\u00a0
as
determined
\u00a0
by
\u00a0
the
\u00a0
purpose
\u00a0
of
\u00a0
the
\u00a0
derivatives.
W\u00e4rtsil\u00e4
\u00a0
has
\u00a0
a
\u00a0
guideline
\u00a0
in
\u00a0
place
\u00a0
to
\u00a0
identify
\u00a0
embedded
\u00a0
derivatives.
Hedge
\u00a0
accounting
W\u00e4rtsil\u00e4
\u00a0
hedges
\u00a0
in
\u00a0
net
\u00a0
position
\u00a0
its
\u00a0
sales
\u00a0
and
\u00a0
purchases
\u00a0
in
\u00a0
foreign
\u00a0
currencies
\u00a0
with
\u00a0
foreign
\u00a0
exchange
forwards
\u00a0
or
\u00a0
currency
\u00a0
options,
\u00a0
and
\u00a0
W\u00e4rtsil\u00e4
\u00a0
applies
\u00a0
hedge
\u00a0
accounting
\u00a0
according
\u00a0
to
\u00a0
IFRS
\u00a0
9
\u00a0
to
\u00a0
the
\u00a0
majority
\u00a0
of
these
\u00a0
foreign
\u00a0
exchange
\u00a0
forwards.
\u00a0
Forward
\u00a0
points
\u00a0
are
\u00a0
excluded
\u00a0
from
\u00a0
the
\u00a0
hedge
\u00a0
relationship
\u00a0
and
\u00a0
they
\u00a0
are
booked
\u00a0
directly
\u00a0
in
\u00a0
the
\u00a0
statement
\u00a0
of
\u00a0
income
\u00a0
as
\u00a0
financial
\u00a0
income
\u00a0
or
\u00a0
expenses.
\u00a0
In
\u00a0
case
\u00a0
of
\u00a0
a
\u00a0
hedge
\u00a0
being
\u00a0
fully
or
\u00a0
partially
\u00a0
discontinued,
\u00a0
the
\u00a0
discontinued
\u00a0
portion
\u00a0
is
\u00a0
immediately
\u00a0
recognised
\u00a0
in
\u00a0
the
\u00a0
statement
\u00a0
of
\u00a0
income
\u00a0
as
other
\u00a0
operating
\u00a0
income
\u00a0
or
\u00a0
expenses.
The
\u00a0
Group
\u00a0
documents
\u00a0
the
\u00a0
relationship
\u00a0
between
\u00a0
each
\u00a0
hedging
\u00a0
instrument
\u00a0
and
\u00a0
the
\u00a0
hedged
\u00a0
item
\u00a0
upon
entering
\u00a0
into
\u00a0
a
\u00a0
hedging
\u00a0
arrangement,
\u00a0
along
\u00a0
with
\u00a0
the
\u00a0
risk
\u00a0
management
\u00a0
objective
\u00a0
and
\u00a0
the
\u00a0
strategy
\u00a0
applied.
Through
\u00a0
this
\u00a0
process,
\u00a0
the
\u00a0
hedging
\u00a0
instrument
\u00a0
is
\u00a0
linked
\u00a0
to
\u00a0
the
\u00a0
relevant
\u00a0
assets
\u00a0
and
\u00a0
liabilities,
\u00a0
projected
business
\u00a0
transactions,
\u00a0
or
\u00a0
binding
\u00a0
contracts.
W\u00e4rtsil\u00e4
\u00a0
designates
\u00a0
its
\u00a0
hedge
\u00a0
relationships
\u00a0
of
\u00a0
foreign
\u00a0
exchange
\u00a0
hedges
\u00a0
as
\u00a0
either
\u00a0
hedges
\u00a0
of
\u00a0
highly
\u00a0
probable
forecast
\u00a0
transactions
\u00a0
or
\u00a0
firm
\u00a0
commitments.
\u00a0
Hedge
\u00a0
accounting
\u00a0
relationships
\u00a0
are
\u00a0
designated
\u00a0
up
\u00a0
to
\u00a0
the
\u00a0
point
\u00a0
of
recognition
\u00a0
of
\u00a0
the
\u00a0
related
\u00a0
receivable
\u00a0
or
\u00a0
payable.
The
\u00a0
Group
\u00a0
uses
\u00a0
a
\u00a0
hedge
\u00a0
designation
\u00a0
for
\u00a0
foreign
\u00a0
exchange
hedging,
\u00a0
where
\u00a0
critical
\u00a0
terms,
\u00a0
currency
\u00a0
and
amount,
\u00a0
match
\u00a0
or
\u00a0
are
\u00a0
closely
\u00a0
aligned
\u00a0
between
\u00a0
the
\u00a0
hedging
\u00a0
instrument
\u00a0
and
\u00a0
the
\u00a0
hedged
\u00a0
item.
\u00a0
Additionally,
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
hedge
\u00a0
designation
\u00a0
documentation
\u00a0
includes
\u00a0
the
\u00a0
time
\u00a0
period
\u00a0
when
\u00a0
forecasted
\u00a0
transactions
\u00a0
are
\u00a0
expected
\u00a0
to
affect
\u00a0
the
\u00a0
statement
\u00a0
of
\u00a0
income.
\u00a0
The
\u00a0
hedge
\u00a0
ratio
\u00a0
is
\u00a0
typically
\u00a0
100%.
\u00a0
Since
\u00a0
underlying
\u00a0
risks
\u00a0
match,
\u00a0
hedging
instruments
\u00a0
are
\u00a0
considered
\u00a0
to
\u00a0
offset
\u00a0
any
\u00a0
changes
\u00a0
related
\u00a0
to
\u00a0
the
\u00a0
hedged
\u00a0
transactions.
\u00a0
However,
\u00a0
W\u00e4rtsil\u00e4
applies
\u00a0
a
\u00a0
roll-forward
\u00a0
strategy
\u00a0
where
\u00a0
derivatives
\u00a0
are
\u00a0
roll-forwarded
\u00a0
or
\u00a0
terminated
\u00a0
early
\u00a0
to
\u00a0
match
\u00a0
these
underlying
\u00a0
transactions.
\u00a0
Hedge
\u00a0
effectiveness
\u00a0
requirements
\u00a0
are
\u00a0
assessed
\u00a0
in
\u00a0
accordance
\u00a0
with
\u00a0
IFRS
\u00a0
9
requirements,
\u00a0
including
\u00a0
requirements
\u00a0
for
\u00a0
economic
\u00a0
relationship,
\u00a0
credit
\u00a0
risk
\u00a0
and
\u00a0
hedge
\u00a0
ratio.
As
\u00a0
external
\u00a0
hedges
\u00a0
are
\u00a0
typically
\u00a0
made
\u00a0
for
\u00a0
short
\u00a0
maturities
\u00a0
(up
\u00a0
to
\u00a0
1
\u00a0
year)
\u00a0
and
\u00a0
only
\u00a0
high
\u00a0
credit
\u00a0
quality
\u00a0
(A-
minimum
\u00a0
rating
\u00a0
requirement)
\u00a0
counterparties
\u00a0
are
\u00a0
utilised,
\u00a0
counterparty
\u00a0
credit
\u00a0
risk
\u00a0
is
\u00a0
expected
\u00a0
to
\u00a0
have
minimal
\u00a0
effect
\u00a0
on
\u00a0
hedge
\u00a0
valuations.
\u00a0
Due
\u00a0
to
\u00a0
some
\u00a0
underlying
\u00a0
hedged
\u00a0
cash
\u00a0
flows
\u00a0
having
\u00a0
longer
\u00a0
maturities
than
\u00a0
related
\u00a0
hedges,
\u00a0
the
\u00a0
changes
\u00a0
in
\u00a0
present
\u00a0
value
\u00a0
of
\u00a0
the
\u00a0
hedge
\u00a0
and
\u00a0
the
\u00a0
underlying
\u00a0
cash
\u00a0
flow
\u00a0
do
\u00a0
not
\u00a0
always
fully
\u00a0
offset
\u00a0
each
\u00a0
other
\u00a0
during
\u00a0
the
\u00a0
lifetime
\u00a0
of
\u00a0
a
\u00a0
hedge.
\u00a0
This
\u00a0
source
\u00a0
of
\u00a0
ineffectiveness
\u00a0
is
\u00a0
calculated
\u00a0
on
\u00a0
a
quarterly
\u00a0
basis
\u00a0
and
\u00a0
recognised
\u00a0
in
\u00a0
the
\u00a0
statement
\u00a0
of
\u00a0
income
\u00a0
as
\u00a0
other
\u00a0
operating
\u00a0
income
\u00a0
or
\u00a0
expenses
\u00a0
on
\u00a0
Group
level.
Additionally
\u00a0
hedge
\u00a0
accounting
\u00a0
may
\u00a0
be
\u00a0
applied
\u00a0
to
\u00a0
interest
\u00a0
rate
\u00a0
hedges.
\u00a0
In
\u00a0
these
\u00a0
cases,
\u00a0
critical
\u00a0
terms,
\u00a0
floating
rate
\u00a0
reference
\u00a0
rate,
\u00a0
and
\u00a0
amortisation
\u00a0
schedule,
\u00a0
are
\u00a0
matched
\u00a0
so
\u00a0
the
\u00a0
hedge
\u00a0
is
\u00a0
expected
\u00a0
to
\u00a0
be
\u00a0
highly
\u00a0
effective.
As
\u00a0
only
\u00a0
high
\u00a0
credit
\u00a0
quality
\u00a0
counterparties
\u00a0
under
\u00a0
ISDA
\u00a0
Master
\u00a0
Agreements
\u00a0
are
\u00a0
utilised,
\u00a0
counterparty
\u00a0
credit
risk
\u00a0
is
\u00a0
expected
\u00a0
to
\u00a0
have
\u00a0
minimal
\u00a0
effect
\u00a0
on
\u00a0
hedge
\u00a0
valuations.
Cash
\u00a0
flow
\u00a0
hedge
Changes
\u00a0
in
\u00a0
the
\u00a0
fair
\u00a0
value
\u00a0
of
\u00a0
derivative
\u00a0
contracts
\u00a0
designated
\u00a0
and
\u00a0
qualifying
\u00a0
as
\u00a0
cash
\u00a0
flow
\u00a0
hedges
\u00a0
are
recognised
\u00a0
in
\u00a0
other
\u00a0
comprehensive
\u00a0
income
\u00a0
and
\u00a0
presented
\u00a0
in
\u00a0
the
\u00a0
fair
\u00a0
value
\u00a0
reserve
\u00a0
in
\u00a0
equity,
\u00a0
provided
\u00a0
that
the
\u00a0
hedging
\u00a0
is
\u00a0
effective.
In
\u00a0
the
\u00a0
case
\u00a0
of
\u00a0
foreign
\u00a0
exchange
\u00a0
forwards,
\u00a0
the
\u00a0
spot
\u00a0
element
\u00a0
is
\u00a0
included
\u00a0
for
\u00a0
the
hedging
\u00a0
relationship
\u00a0
whereas
\u00a0
forward
\u00a0
points
\u00a0
have
\u00a0
been
\u00a0
excluded
\u00a0
from
\u00a0
the
\u00a0
hedge
\u00a0
designation.
Any
\u00a0
gain
\u00a0
or
loss
\u00a0
in
\u00a0
the
\u00a0
fair
\u00a0
value
\u00a0
reserve
\u00a0
related
\u00a0
to
\u00a0
derivatives
\u00a0
accumulated
\u00a0
through
\u00a0
other
\u00a0
comprehensive
\u00a0
income
\u00a0
is
reported
\u00a0
in
\u00a0
the
\u00a0
statement
\u00a0
of
\u00a0
income
\u00a0
in
\u00a0
the
\u00a0
same
\u00a0
period
\u00a0
as
\u00a0
any
\u00a0
transactions
\u00a0
relating
\u00a0
to
\u00a0
the
\u00a0
hedged
obligations
\u00a0
or
\u00a0
estimates.
\u00a0
Result
\u00a0
from
\u00a0
net
\u00a0
position
\u00a0
hedges
\u00a0
is
\u00a0
reported
\u00a0
on
\u00a0
a
\u00a0
separate
\u00a0
line
\u00a0
in
\u00a0
the
\u00a0
statement
\u00a0
of
income.
\u00a0
Basis
\u00a0
adjustments
\u00a0
related
\u00a0
to
\u00a0
derivatives
\u00a0
are
\u00a0
reported
\u00a0
in
\u00a0
contract
\u00a0
assets,
\u00a0
contract
\u00a0
liabilities,
\u00a0
and
inventories,
\u00a0
according
\u00a0
to
\u00a0
the
\u00a0
hedged
\u00a0
item.
\u00a0
The
\u00a0
ineffective
\u00a0
portion
\u00a0
is
\u00a0
immediately
\u00a0
recognised
\u00a0
in
\u00a0
the
statement
\u00a0
of
\u00a0
income
\u00a0
as
\u00a0
other
\u00a0
operating
\u00a0
income
\u00a0
or
\u00a0
expenses.
\u00a0
Changes
\u00a0
in
\u00a0
fair
\u00a0
value
\u00a0
of
\u00a0
foreign
\u00a0
exchange
derivatives
\u00a0
due
\u00a0
to
\u00a0
interest
\u00a0
rate
\u00a0
differentials
\u00a0
(impact
\u00a0
of
\u00a0
forward
\u00a0
points)
\u00a0
are
\u00a0
recognised
\u00a0
in
\u00a0
the
\u00a0
statement
\u00a0
of
income
\u00a0
as
\u00a0
financial
\u00a0
income
\u00a0
or
\u00a0
expenses.
Cash
\u00a0
flow
\u00a0
hedge
\u00a0
against
\u00a0
a
\u00a0
variable
\u00a0
interest
\u00a0
rate
\u00a0
in
\u00a0
a
\u00a0
lease
\u00a0
contract
\u00a0
is
\u00a0
included
\u00a0
in
\u00a0
the
\u00a0
statement
\u00a0
of
\u00a0
income
as
\u00a0
other
\u00a0
operating
\u00a0
income
\u00a0
and
\u00a0
financial
\u00a0
income
\u00a0
and
\u00a0
expenses.
More
\u00a0
information
\u00a0
on
\u00a0
fair
\u00a0
value
\u00a0
adjustments
\u00a0
related
\u00a0
to
\u00a0
cash
\u00a0
flow
\u00a0
hedges
\u00a0
is
\u00a0
presented
\u00a0
in
\u00a0
Note
\u00a0
5.5.
\u00a0
Equity,
and
\u00a0
more
\u00a0
information
\u00a0
on
\u00a0
the
\u00a0
ineffective
\u00a0
portion
\u00a0
of
\u00a0
cash
\u00a0
flow
\u00a0
hedges
\u00a0
is
\u00a0
presented
\u00a0
in
\u00a0
Note
\u00a0
5.1.
\u00a0
Financial
income
\u00a0
and
\u00a0
expenses.
The
\u00a0
Group
\u00a0
applies
\u00a0
hedge
\u00a0
accounting
\u00a0
to
\u00a0
the
\u00a0
majority
\u00a0
of
\u00a0
its
\u00a0
foreign
\u00a0
currency
\u00a0
forward
\u00a0
contracts.
The
\u00a0
open
\u00a0
operative
\u00a0
currency
\u00a0
positions
\u00a0
including
\u00a0
financing
\u00a0
are
\u00a0
hedged
\u00a0
by
\u00a0
using
\u00a0
derivative
\u00a0
financial
\u00a0
instruments
according
\u00a0
to
\u00a0
the
\u00a0
table
\u00a0
below.
Nominal
\u00a0
amounts
\u00a0
for
\u00a0
hedged
\u00a0
foreign
\u00a0
exchange
\u00a0
items
\u00a0
and
\u00a0
hedging
\u00a0
instruments
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
2023
2022
MEUR
Against
hedge
accounting
Against
net
loans
Against
other
items
Against
hedge
accounting
Against
net
loans
Against
other
items
Currency
\u00a0
forwards,
\u00a0
nominal
amount
\u00a0
(both
\u00a0
legs)
EUR*
1
\u00a0
276
527
157
952
432
291
USD
663
305
567
180
NOK
196
96
132
156
GBP
54
88
17
8
54
78
CHF
114
90
8
46
84
3
CNY
58
10
14
11
1
AUD
18
5
9
16
34
MXN
72
12
14
41
SGD
7
3
16
15
1
SEK
28
1
9
40
1
9
CAD
31
14
25
13
2
Other
\u00a0
currencies**
38
26
62
64
Total
\u00a0
amount
\u00a0
of
\u00a0
currency
derivatives
\u00a0
(single
\u00a0
leg)
1
\u00a0
278
527
161
946
432
302
*
\u00a0
EUR
\u00a0
is
\u00a0
not
\u00a0
considered
\u00a0
to
\u00a0
be
\u00a0
a
\u00a0
currency
\u00a0
risk
\u00a0
for
\u00a0
the
\u00a0
parent
\u00a0
company.
**
\u00a0
Other
\u00a0
currencies
\u00a0
do
\u00a0
not
\u00a0
include
\u00a0
any
\u00a0
material
\u00a0
single
\u00a0
currencies.
Net
\u00a0
loans
\u00a0
include
\u00a0
non-euro
\u00a0
intragroup
\u00a0
loans
\u00a0
and
\u00a0
deposits
\u00a0
given
\u00a0
by
\u00a0
the
\u00a0
parent
\u00a0
company.
Hedge
\u00a0
accounting
\u00a0
has
\u00a0
been
\u00a0
applied
\u00a0
to
\u00a0
EUR
\u00a0
1,278
\u00a0
million
\u00a0
(946)
\u00a0
currency
\u00a0
forwards.
\u00a0
In
\u00a0
2023
\u00a0
and
\u00a0
2022,
\u00a0
no
options
\u00a0
were
\u00a0
used
\u00a0
for
\u00a0
hedging.
\u00a0
A
\u00a0
5%
\u00a0
change
\u00a0
in
\u00a0
the
\u00a0
exchange
\u00a0
rates
\u00a0
would
\u00a0
cause
\u00a0
from
\u00a0
these
\u00a0
currency
\u00a0
forwards
an
\u00a0
approximately
\u00a0
EUR
\u00a0
66
\u00a0
million
\u00a0
(35)
\u00a0
impact
\u00a0
on
\u00a0
the
\u00a0
equity
\u00a0
related
\u00a0
to
\u00a0
hedge
\u00a0
accounting.
\u00a0
Both
\u00a0
comparison
figures
\u00a0
have
\u00a0
been
\u00a0
restated
\u00a0
to
\u00a0
reflect
\u00a0
net
\u00a0
position
\u00a0
hedging.
\u00a0
As
\u00a0
all
\u00a0
material
\u00a0
fixed
\u00a0
sales
\u00a0
and
\u00a0
purchase
\u00a0
contracts
\u00a0
\n
\u00a0
\n
are
\u00a0
hedged,
\u00a0
the
\u00a0
profit
\u00a0
and
\u00a0
loss
\u00a0
sensitivity
\u00a0
of
\u00a0
foreign
\u00a0
exchange
\u00a0
from
\u00a0
operations
\u00a0
(excluding
\u00a0
internal
\u00a0
financing)
\u00a0
is
considered
\u00a0
minimal.
From
\u00a0
currency
\u00a0
forwards
\u00a0
related
\u00a0
to
\u00a0
cash
\u00a0
flow
\u00a0
hedging,
\u00a0
EUR
\u00a0
27
\u00a0
million
\u00a0
(12)
\u00a0
has
\u00a0
been
\u00a0
recognised
\u00a0
in
\u00a0
other
comprehensive
\u00a0
income
\u00a0
as
\u00a0
cash
\u00a0
flow
\u00a0
hedges
\u00a0
measured
\u00a0
at
\u00a0
fair
\u00a0
value.
\u00a0
EUR
\u00a0
-9
\u00a0
million
\u00a0
(-12)
\u00a0
has
\u00a0
been
\u00a0
recognised
in
\u00a0
the
\u00a0
statement
\u00a0
of
\u00a0
income
\u00a0
as
\u00a0
result
\u00a0
from
\u00a0
net
\u00a0
position
\u00a0
hedges,
\u00a0
and
\u00a0
EUR
\u00a0
-2
\u00a0
million
\u00a0
in
\u00a0
the
\u00a0
statement
\u00a0
of
\u00a0
financial
position
\u00a0
as
\u00a0
a
\u00a0
change
\u00a0
in
\u00a0
contract
\u00a0
liabilities.
\u00a0
At
\u00a0
year-end,
\u00a0
currency
\u00a0
forwards
\u00a0
related
\u00a0
to
\u00a0
cash
\u00a0
flow
\u00a0
hedging
recognised
\u00a0
in
\u00a0
contract
\u00a0
liabilities
\u00a0
amounted
\u00a0
to
\u00a0
EUR
\u00a0
-4
\u00a0
million
\u00a0
(-2).
In
\u00a0
2023,
\u00a0
a
\u00a0
net
\u00a0
of
\u00a0
EUR
\u00a0
-6
\u00a0
million
\u00a0
was
\u00a0
recognised
\u00a0
in
\u00a0
the
\u00a0
statement
\u00a0
of
\u00a0
income
\u00a0
as
\u00a0
other
\u00a0
operating
\u00a0
income
\u00a0
or
expenses
\u00a0
due
\u00a0
to
\u00a0
discontinued
\u00a0
cash
\u00a0
flow
\u00a0
hedges.
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
2023
2022
MEUR
Hedged
cash
flows,
net
amount
Hedges,
net
amount
Hedges,
gross
amount
Hedged
cash
flows,
net
amount
Hedges,
net
amount
Hedges,
gross
amount
Nominal
\u00a0
amounts
EUR
262
274
1
\u00a0
276
73
79
952
USD
582
578
663
297
299
567
NOK
165
161
196
130
132
132
GBP
29
31
54
12
8
8
MXN
73
72
72
18
14
14
CNY
5
9
58
13
14
14
AUD
23
18
18
28
16
16
SGD
11
7
7
16
16
16
CHF
100
99
114
40
42
46
CAD
29
31
31
28
25
25
Other
\u00a0
currencies
49
47
66
49
58
102
Total
1
\u00a0
328
1
\u00a0
327
2
\u00a0
556
702
703
1
\u00a0
893
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
MEUR
2023
2022
External
\u00a0
currency
\u00a0
forwards
\u00a0
under
\u00a0
hedge
\u00a0
accounting
\u00a0
by
\u00a0
year
2023
-
946
2024
1
\u00a0
278
-
Hedged
\u00a0
highly
\u00a0
probable
\u00a0
forecasted
\u00a0
cash
\u00a0
flows
\u00a0
by
\u00a0
year
2023
-
1
\u00a0
902
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
2024
2
\u00a0
075
145
2025
384
46
2026
94
5
2027
45
1*
2028\u2013
1
-
*
\u00a0
Includes
\u00a0
2027
\u00a0
and
\u00a0
later
\u00a0
for
\u00a0
comparison
\u00a0
period.
Derivatives
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
MEUR
2023
of
\u00a0
which
closed
2022
of
\u00a0
which
closed
Nominal
\u00a0
values
\u00a0
of
\u00a0
derivative
\u00a0
financial
\u00a0
instruments
\u00a0
(level
2)
Interest
\u00a0
rate
\u00a0
swaps,
\u00a0
included
\u00a0
in
\u00a0
hedge
\u00a0
accounting
118
125
Interest
\u00a0
rate
\u00a0
swaps,
\u00a0
no
\u00a0
hedge
\u00a0
accounting
50
80
Cross
\u00a0
currency
\u00a0
swaps
160
142
Non-deliverable
\u00a0
forwards,
\u00a0
included
\u00a0
in
\u00a0
hedge
\u00a0
accounting
5
Currency
\u00a0
forwards,
\u00a0
included
\u00a0
in
\u00a0
hedge
\u00a0
accounting
1
\u00a0
278
667
942
626
Currency
\u00a0
forwards,
\u00a0
no
\u00a0
hedge
\u00a0
accounting
688
238
735
301
Total
2
\u00a0
294
905
2
\u00a0
028
927
Fair
\u00a0
values
\u00a0
of
\u00a0
derivative
\u00a0
financial
\u00a0
instruments
\u00a0
(level
\u00a0
2)
Interest
\u00a0
rate
\u00a0
swaps,
\u00a0
included
\u00a0
in
\u00a0
hedge
\u00a0
accounting
13
20
Interest
\u00a0
rate
\u00a0
swaps,
\u00a0
no
\u00a0
hedge
\u00a0
accounting
4
6
Cross
\u00a0
currency
\u00a0
swaps
-12
-6
Currency
\u00a0
forwards,
\u00a0
included
\u00a0
in
\u00a0
hedge
\u00a0
accounting
17
12
Currency
\u00a0
forwards,
\u00a0
no
\u00a0
hedge
\u00a0
accounting
10
9
Total
33
41
In
\u00a0
addition,
\u00a0
the
\u00a0
Group
\u00a0
had
\u00a0
copper
\u00a0
swaps
\u00a0
amounting
\u00a0
to
\u00a0
1,130
\u00a0
tons
\u00a0
(1,190)
\u00a0
valued
\u00a0
at
\u00a0
EUR
\u00a0
9
\u00a0
million
\u00a0
(9).
Foreign
\u00a0
currency
\u00a0
forward
\u00a0
contracts
\u00a0
are
\u00a0
against
\u00a0
transactional
\u00a0
risks
\u00a0
and
\u00a0
fall
\u00a0
due
\u00a0
during
\u00a0
the
\u00a0
following
\u00a0
12
\u00a0
months
(12).
\u00a0
A
\u00a0
currency
\u00a0
forward
\u00a0
is
\u00a0
considered
\u00a0
closed
\u00a0
when
\u00a0
there
\u00a0
are
\u00a0
offsetting
\u00a0
cash
\u00a0
flows
\u00a0
in
\u00a0
the
\u00a0
same
\u00a0
currency
\u00a0
with
the
\u00a0
same
\u00a0
value
\u00a0
date.
\u00a0
Interest
\u00a0
rate
\u00a0
swaps
\u00a0
are
\u00a0
denominated
\u00a0
in
\u00a0
euros
\u00a0
and
\u00a0
their
\u00a0
average
\u00a0
maturity
\u00a0
is
\u00a0
57
\u00a0
months
(74).
\u00a0
The
\u00a0
average
\u00a0
maturity
\u00a0
for
\u00a0
cross
\u00a0
currency
\u00a0
swaps
\u00a0
is
\u00a0
36
\u00a0
months
\u00a0
(16).
Changes
\u00a0
in
\u00a0
the
\u00a0
market
\u00a0
value
\u00a0
of
\u00a0
interest
\u00a0
rate
\u00a0
derivatives
\u00a0
are
\u00a0
usually
\u00a0
immediately
\u00a0
recognised
\u00a0
in
\u00a0
the
\u00a0
statement
\u00a0
of
income
\u00a0
as
\u00a0
financial
\u00a0
income
\u00a0
or
\u00a0
expenses.
\u00a0
However,
\u00a0
cash
\u00a0
flow
\u00a0
hedge
\u00a0
accounting
\u00a0
in
\u00a0
accordance
\u00a0
with
\u00a0
IFRS
\u00a0
9
\u00a0
is
applied
\u00a0
to
\u00a0
a
\u00a0
EUR
\u00a0
122
\u00a0
million
\u00a0
(125)
\u00a0
amortising
\u00a0
interest
\u00a0
rate
\u00a0
swap
\u00a0
maturing
\u00a0
in
\u00a0
2031.
\u00a0
The
\u00a0
interest
\u00a0
rate
\u00a0
hedge
swaps
\u00a0
variable
\u00a0
interest
\u00a0
payments
\u00a0
of
\u00a0
a
\u00a0
large
\u00a0
lease
\u00a0
agreement,
\u00a0
to
\u00a0
fixed
\u00a0
interest
\u00a0
payments.
\u00a0
As
\u00a0
the
\u00a0
hedge
\u00a0
and
\u00a0
the
underlying
\u00a0
cash
\u00a0
flow
\u00a0
have
\u00a0
matching
\u00a0
critical
\u00a0
terms,
\u00a0
the
\u00a0
hedge
\u00a0
ratio
\u00a0
is
\u00a0
1:1
\u00a0
and
\u00a0
the
\u00a0
hedge
\u00a0
is
\u00a0
expected
\u00a0
to
\u00a0
be
\u00a0
highly
effective.
\u00a0
In
\u00a0
2023,
\u00a0
a
\u00a0
EUR
\u00a0
14
\u00a0
million
\u00a0
(21)
\u00a0
fair
\u00a0
value
\u00a0
adjustment
\u00a0
related
\u00a0
to
\u00a0
cash
\u00a0
flow
\u00a0
hedge
\u00a0
was
\u00a0
recognised
\u00a0
in
other
\u00a0
comprehensive
\u00a0
income.
\u00a0
Realised
\u00a0
and
\u00a0
accrued
\u00a0
interest
\u00a0
of
\u00a0
EUR
\u00a0
3
\u00a0
million
\u00a0
was
\u00a0
recognised
\u00a0
in
\u00a0
the
\u00a0
statement
of
\u00a0
income
\u00a0
as
\u00a0
other
\u00a0
operating
\u00a0
income,
\u00a0
and
\u00a0
EUR
\u00a0
1
\u00a0
million
\u00a0
as
\u00a0
financial
\u00a0
income
\u00a0
or
\u00a0
expenses.
In
\u00a0
2023
\u00a0
and
\u00a0
2022,
\u00a0
no
\u00a0
embedded
\u00a0
derivatives
\u00a0
were
\u00a0
identified.
Normally
\u00a0
all
\u00a0
of
\u00a0
the
\u00a0
Groups'
\u00a0
derivatives
\u00a0
are
\u00a0
carried
\u00a0
out
\u00a0
according
\u00a0
to
\u00a0
International
\u00a0
Swaps
\u00a0
and
\u00a0
Derivatives
Association's
\u00a0
Master
\u00a0
Agreements
\u00a0
(ISDA).
\u00a0
In
\u00a0
case
\u00a0
of
\u00a0
an
\u00a0
event
\u00a0
of
\u00a0
default
\u00a0
under
\u00a0
these
\u00a0
agreements,
\u00a0
the
\u00a0
non-
defaulting
\u00a0
party
\u00a0
may
\u00a0
request
\u00a0
early
\u00a0
termination
\u00a0
and
\u00a0
set-off
\u00a0
of
\u00a0
all
\u00a0
outstanding
\u00a0
transactions.
\u00a0
These
\u00a0
agreements
\u00a0
do
not
\u00a0
meet
\u00a0
the
\u00a0
criteria
\u00a0
for
\u00a0
offsetting
\u00a0
in
\u00a0
the
\u00a0
statement
\u00a0
of
\u00a0
financial
\u00a0
position.
\u00a0
The
\u00a0
following
\u00a0
table
\u00a0
sets
\u00a0
out
\u00a0
the
\u00a0
carrying
amounts
\u00a0
of
\u00a0
recognised
\u00a0
financial
\u00a0
instruments
\u00a0
that
\u00a0
are
\u00a0
subject
\u00a0
to
\u00a0
the
\u00a0
above
\u00a0
agreements.
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
MEUR
2023
2022
Gross
\u00a0
fair
\u00a0
values
\u00a0
of
\u00a0
derivative
\u00a0
financial
\u00a0
instruments
\u00a0
subject
\u00a0
to
\u00a0
ISDAs
Assets
Interest
\u00a0
rate
\u00a0
swaps
17
26
Currency
\u00a0
forwards
32
33
Total
49
59
Liabilities
Cross
\u00a0
currency
\u00a0
swaps
-12
-6
Currency
\u00a0
forwards
-4
-11
Total
-16
-18
Net
\u00a0
fair
\u00a0
values
\u00a0
of
\u00a0
derivative
\u00a0
financial
\u00a0
instruments
\u00a0
subject
\u00a0
to
\u00a0
ISDAs
Assets
41
46
Liabilities
-8
-5
Total
33
41
", "dimensions": { "concept": "ifrs-full:DisclosureOfDerivativeFinancialInstrumentsExplanatory", "language": "en", "entity": "scheme:743700G7A9J1PHM3X223", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00" } }, "ID_69": { "value": "
\u00a0
\n
\u00a0
\n
Financial
\u00a0
instruments
\u00a0
at
\u00a0
fair
\u00a0
value
\u00a0
through
\u00a0
the
\u00a0
statement
\u00a0
of
\u00a0
income
Financial
\u00a0
assets
Financial
\u00a0
assets
\u00a0
measured
\u00a0
at
\u00a0
fair
\u00a0
value
\u00a0
through
\u00a0
the
\u00a0
statement
\u00a0
of
\u00a0
income
\u00a0
include
\u00a0
other
\u00a0
financial
investments,
\u00a0
other
\u00a0
short-term
\u00a0
cash
\u00a0
investments
\u00a0
and
\u00a0
derivatives.
\u00a0
These
\u00a0
financial
\u00a0
investments
\u00a0
include
W\u00e4rtsil\u00e4\u2019s
\u00a0
investments
\u00a0
in
\u00a0
other
\u00a0
companies
\u00a0
(both
\u00a0
listed
\u00a0
and
\u00a0
unlisted
\u00a0
shares).
Changes
\u00a0
in
\u00a0
fair
\u00a0
value
\u00a0
and
\u00a0
gains
\u00a0
and
\u00a0
losses
\u00a0
at
\u00a0
derecognition
\u00a0
of
\u00a0
these
\u00a0
financial
\u00a0
assets
\u00a0
are
\u00a0
recognised
\u00a0
in
\u00a0
the
statement
\u00a0
of
\u00a0
income.
Gains
\u00a0
and
\u00a0
losses
\u00a0
from
\u00a0
fair
\u00a0
valuation
\u00a0
and
\u00a0
the
\u00a0
disposal
\u00a0
of
\u00a0
shares
\u00a0
that
\u00a0
are
\u00a0
attributable
\u00a0
to
\u00a0
operating
\u00a0
activities
are
\u00a0
included
\u00a0
in
\u00a0
operating
\u00a0
income,
\u00a0
while
\u00a0
gains
\u00a0
and
\u00a0
losses
\u00a0
from
\u00a0
fair
\u00a0
valuation
\u00a0
and
\u00a0
the
\u00a0
disposal
\u00a0
of
\u00a0
other
shares
\u00a0
are
\u00a0
included
\u00a0
in
\u00a0
financial
\u00a0
income
\u00a0
and
\u00a0
expenses.
Financial
\u00a0
liabilities
Financial
\u00a0
liabilities
\u00a0
recognised
\u00a0
at
\u00a0
fair
\u00a0
value
\u00a0
through
\u00a0
the
\u00a0
statement
\u00a0
of
\u00a0
income
\u00a0
include
\u00a0
derivatives
\u00a0
that
\u00a0
are
\u00a0
not
eligible
\u00a0
for
\u00a0
hedge
\u00a0
accounting.
\u00a0
\n
\u00a0
\n
Changes
\u00a0
in
\u00a0
fair
\u00a0
value
\u00a0
and
\u00a0
gains
\u00a0
and
\u00a0
losses
\u00a0
at
\u00a0
derecognition
\u00a0
of
\u00a0
these
\u00a0
financial
\u00a0
assets
\u00a0
are
\u00a0
recognised
\u00a0
in
\u00a0
the
statement
\u00a0
of
\u00a0
income.
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
MEUR
Measured
at
\u00a0
amortised
cost
At
\u00a0
fair
\u00a0
value
\u00a0
through
\u00a0
the
\u00a0
statement
\u00a0
of
\u00a0
income
Carrying
\u00a0
amounts
\u00a0
of
\u00a0
the
\u00a0
statement
\u00a0
of
\u00a0
financial
\u00a0
position
\u00a0
items
Fair
\u00a0
value
Non-current
\u00a0
financial
\u00a0
assets
Interest-bearing
\u00a0
investments
4
4
4
Trade
\u00a0
receivables
2
2
2
Derivatives,
\u00a0
included
\u00a0
in
\u00a0
hedge
\u00a0
accounting
13
13
13
Derivatives,
\u00a0
no
\u00a0
hedge
\u00a0
accounting
4
4
4
Other
\u00a0
investments
19
19
19
Other
\u00a0
receivables
1
1
1
Current
\u00a0
financial
\u00a0
assets
Trade
\u00a0
receivables
989
989
989
Trade
\u00a0
receivables
\u00a0
for
\u00a0
sale
2
2
2
Derivatives,
\u00a0
included
\u00a0
in
\u00a0
hedge
\u00a0
accounting
20
20
20
Derivatives,
\u00a0
no
\u00a0
hedge
\u00a0
accounting
12
12
12
Other
\u00a0
financial
\u00a0
receivables
3
3
3
Cash
\u00a0
and
\u00a0
cash
\u00a0
equivalents
809
10
819
819
Carrying
\u00a0
amount
\u00a0
by
\u00a0
measurement
\u00a0
category
1
\u00a0
804
83
1
\u00a0
887
1
\u00a0
887
Non-current
\u00a0
financial
\u00a0
liabilities
Interest-bearing
\u00a0
debt
739
739
733
Derivatives,
\u00a0
no
\u00a0
hedge
\u00a0
accounting
12
12
12
Current
\u00a0
financial
\u00a0
liabilities
Interest-bearing
\u00a0
debt
119
119
119
Trade
\u00a0
payables
686
686
686
Derivatives,
\u00a0
included
\u00a0
in
\u00a0
hedge
\u00a0
accounting
3
3
3
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
Derivatives,
\u00a0
no
\u00a0
hedge
\u00a0
accounting
2
2
2
Other
\u00a0
financial
\u00a0
liabilities
9
9
9
Carrying
\u00a0
amount
\u00a0
by
\u00a0
measurement
\u00a0
category
1
\u00a0
553
16
1
\u00a0
569
1
\u00a0
563
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
-
2023
2022
MEUR
Level
\u00a0
2
Level
\u00a0
3
Level
\u00a0
2
Level
\u00a0
3
Financial
\u00a0
assets
Other
\u00a0
investments
19
19
Interest-bearing
\u00a0
investments,
\u00a0
non-current
4
4
Other
\u00a0
receivables,
\u00a0
non-current
1
1
Derivatives
49
59
Financial
\u00a0
liabilities
Interest-bearing
\u00a0
debt,
\u00a0
non-current*
733
726
\u00a0
\n
Derivatives
16
18
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
MEUR
2023
2022
Carrying
\u00a0
amount
\u00a0
on
\u00a0
1
\u00a0
January
19
18
Acquired
\u00a0
shares
0
1
Carrying
\u00a0
amount
\u00a0
on
\u00a0
31
\u00a0
December
19
19
", "dimensions": { "concept": "ifrs-full:DisclosureOfFinancialInstrumentsAtFairValueThroughProfitOrLossExplanatory", "language": "en", "entity": "scheme:743700G7A9J1PHM3X223", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00" } }, "ID_65": { "value": "
2022
\u00a0
\n
\u00a0
\n
\u00a0
\n
MEUR
Measured
at
\u00a0
amortised
cost
At
\u00a0
fair
\u00a0
value
\u00a0
through
\u00a0
the
\u00a0
statement
\u00a0
of
\u00a0
income
Carrying
\u00a0
amounts
\u00a0
of
\u00a0
the
\u00a0
statement
\u00a0
of
\u00a0
financial
\u00a0
position
\u00a0
items
Fair
\u00a0
value
Non-current
\u00a0
financial
\u00a0
assets
Interest-bearing
\u00a0
investments
4
4
4
Trade
\u00a0
receivables
11
11
11
Derivatives,
\u00a0
included
\u00a0
in
\u00a0
hedge
\u00a0
accounting
20
20
20
Derivatives,
\u00a0
no
\u00a0
hedge
\u00a0
accounting
6
6
6
Other
\u00a0
investments
19
19
19
Other
\u00a0
receivables
1
1
1
Current
\u00a0
financial
\u00a0
assets
Trade
\u00a0
receivables
1
\u00a0
101
1
\u00a0
101
1
\u00a0
101
Trade
\u00a0
receivables
\u00a0
for
\u00a0
sale
2
2
2
Derivatives,
\u00a0
included
\u00a0
in
\u00a0
hedge
\u00a0
accounting
17
17
17
Derivatives,
\u00a0
no
\u00a0
hedge
\u00a0
accounting
15
15
15
Other
\u00a0
financial
\u00a0
receivables
3
3
3
Cash
\u00a0
and
\u00a0
cash
\u00a0
equivalents
452
9
461
461
Carrying
\u00a0
amount
\u00a0
by
\u00a0
measurement
\u00a0
category
1
\u00a0
568
93
1
\u00a0
661
1
\u00a0
661
Non-current
\u00a0
financial
\u00a0
liabilities
Interest-bearing
\u00a0
debt
740
740
726
Derivatives,
\u00a0
no
\u00a0
hedge
\u00a0
accounting
1
1
1
Current
\u00a0
financial
\u00a0
liabilities
Interest-bearing
\u00a0
debt
209
209
209
Trade
\u00a0
payables
1
\u00a0
041
1
\u00a0
041
1
\u00a0
041
Derivatives,
\u00a0
included
\u00a0
in
\u00a0
hedge
\u00a0
accounting
5
5
5
Derivatives,
\u00a0
no
\u00a0
hedge
\u00a0
accounting
12
12
12
\u00a0
\n
Other
\u00a0
financial
\u00a0
liabilities
5
5
5
Carrying
\u00a0
amount
\u00a0
by
\u00a0
measurement
\u00a0
category
1
\u00a0
995
18
2
\u00a0
013
1
\u00a0
999
*
\u00a0
In
\u00a0
2022,
\u00a0
the
\u00a0
Group
\u00a0
had
\u00a0
also
\u00a0
cash
\u00a0
and
\u00a0
cash
\u00a0
equivalents
\u00a0
measured
\u00a0
at
\u00a0
amortised
\u00a0
cost
\u00a0
of
\u00a0
EUR
\u00a0
3
\u00a0
million
\u00a0
related
to
\u00a0
assets
\u00a0
held
\u00a0
for
\u00a0
sale.
2022
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
Current
Non-
current
MEUR
<
\u00a0
1
\u00a0
year
1\u20133
\u00a0
years
3\u20135
\u00a0
years
>
\u00a0
5
\u00a0
years
Total
Loans
\u00a0
from
\u00a0
other
\u00a0
financial
\u00a0
institutions*
166
224
245
47
683
Lease
\u00a0
liabilities
47
71
49
106
273
Trade
\u00a0
payables
1
\u00a0
041
1
\u00a0
041
Interest
\u00a0
rate
\u00a0
derivatives,
\u00a0
payable
79
81
3
1
164
Interest
\u00a0
rate
\u00a0
derivatives,
\u00a0
receivable
-77
-93
-11
-5
-186
Foreign
\u00a0
exchange
\u00a0
forwards,
\u00a0
payable
1
\u00a0
666
1
\u00a0
666
Foreign
\u00a0
exchange
\u00a0
forwards,
\u00a0
receivable
-1
\u00a0
686
-1
\u00a0
686
Other
\u00a0
liabilities
5
5
Total
1
\u00a0
242
283
287
149
1
\u00a0
960
*
\u00a0
Estimated
\u00a0
interest
\u00a0
expenses,
\u00a0
total
8
11
5
1
24
Estimated
\u00a0
contractual
\u00a0
cash
\u00a0
flows
1
\u00a0
250
294
291
150
1
\u00a0
984
", "dimensions": { "concept": "ifrs-full:DisclosureOfFinancialInstrumentsExplanatory", "language": "en", "entity": "scheme:743700G7A9J1PHM3X223", "period": "2022-01-01T00:00:00/2023-01-01T00:00:00" } }, "ID_68": { "value": "
\u00a0
\n
\u00a0
\n
\u00a0
\n
MEUR
Measured
at
\u00a0
amortised
cost
At
\u00a0
fair
\u00a0
value
\u00a0
through
\u00a0
the
\u00a0
statement
\u00a0
of
\u00a0
income
Carrying
\u00a0
amounts
\u00a0
of
\u00a0
the
\u00a0
statement
\u00a0
of
\u00a0
financial
\u00a0
position
\u00a0
items
Fair
\u00a0
value
Non-current
\u00a0
financial
\u00a0
assets
Interest-bearing
\u00a0
investments
4
4
4
Trade
\u00a0
receivables
11
11
11
Derivatives,
\u00a0
included
\u00a0
in
\u00a0
hedge
\u00a0
accounting
20
20
20
Derivatives,
\u00a0
no
\u00a0
hedge
\u00a0
accounting
6
6
6
Other
\u00a0
investments
19
19
19
Other
\u00a0
receivables
1
1
1
Current
\u00a0
financial
\u00a0
assets
Trade
\u00a0
receivables
1
\u00a0
101
1
\u00a0
101
1
\u00a0
101
Trade
\u00a0
receivables
\u00a0
for
\u00a0
sale
2
2
2
Derivatives,
\u00a0
included
\u00a0
in
\u00a0
hedge
\u00a0
accounting
17
17
17
Derivatives,
\u00a0
no
\u00a0
hedge
\u00a0
accounting
15
15
15
Other
\u00a0
financial
\u00a0
receivables
3
3
3
Cash
\u00a0
and
\u00a0
cash
\u00a0
equivalents
452
9
461
461
Carrying
\u00a0
amount
\u00a0
by
\u00a0
measurement
\u00a0
category
1
\u00a0
568
93
1
\u00a0
661
1
\u00a0
661
Non-current
\u00a0
financial
\u00a0
liabilities
Interest-bearing
\u00a0
debt
740
740
726
Derivatives,
\u00a0
no
\u00a0
hedge
\u00a0
accounting
1
1
1
Current
\u00a0
financial
\u00a0
liabilities
Interest-bearing
\u00a0
debt
209
209
209
Trade
\u00a0
payables
1
\u00a0
041
1
\u00a0
041
1
\u00a0
041
Derivatives,
\u00a0
included
\u00a0
in
\u00a0
hedge
\u00a0
accounting
5
5
5
Derivatives,
\u00a0
no
\u00a0
hedge
\u00a0
accounting
12
12
12
\u00a0
\n
Other
\u00a0
financial
\u00a0
liabilities
5
5
5
Carrying
\u00a0
amount
\u00a0
by
\u00a0
measurement
\u00a0
category
1
\u00a0
995
18
2
\u00a0
013
1
\u00a0
999
", "dimensions": { "concept": "ifrs-full:DisclosureOfDerivativeFinancialInstrumentsExplanatory", "language": "en", "entity": "scheme:743700G7A9J1PHM3X223", "period": "2022-01-01T00:00:00/2023-01-01T00:00:00" } }, "ID_70": { "value": "
\u00a0
\n
\u00a0
\n
\u00a0
\n
MEUR
Measured
at
\u00a0
amortised
cost
At
\u00a0
fair
\u00a0
value
\u00a0
through
\u00a0
the
\u00a0
statement
\u00a0
of
\u00a0
income
Carrying
\u00a0
amounts
\u00a0
of
\u00a0
the
\u00a0
statement
\u00a0
of
\u00a0
financial
\u00a0
position
\u00a0
items
Fair
\u00a0
value
Non-current
\u00a0
financial
\u00a0
assets
Interest-bearing
\u00a0
investments
4
4
4
Trade
\u00a0
receivables
11
11
11
Derivatives,
\u00a0
included
\u00a0
in
\u00a0
hedge
\u00a0
accounting
20
20
20
Derivatives,
\u00a0
no
\u00a0
hedge
\u00a0
accounting
6
6
6
Other
\u00a0
investments
19
19
19
Other
\u00a0
receivables
1
1
1
Current
\u00a0
financial
\u00a0
assets
Trade
\u00a0
receivables
1
\u00a0
101
1
\u00a0
101
1
\u00a0
101
Trade
\u00a0
receivables
\u00a0
for
\u00a0
sale
2
2
2
Derivatives,
\u00a0
included
\u00a0
in
\u00a0
hedge
\u00a0
accounting
17
17
17
Derivatives,
\u00a0
no
\u00a0
hedge
\u00a0
accounting
15
15
15
Other
\u00a0
financial
\u00a0
receivables
3
3
3
Cash
\u00a0
and
\u00a0
cash
\u00a0
equivalents
452
9
461
461
Carrying
\u00a0
amount
\u00a0
by
\u00a0
measurement
\u00a0
category
1
\u00a0
568
93
1
\u00a0
661
1
\u00a0
661
Non-current
\u00a0
financial
\u00a0
liabilities
Interest-bearing
\u00a0
debt
740
740
726
Derivatives,
\u00a0
no
\u00a0
hedge
\u00a0
accounting
1
1
1
Current
\u00a0
financial
\u00a0
liabilities
Interest-bearing
\u00a0
debt
209
209
209
Trade
\u00a0
payables
1
\u00a0
041
1
\u00a0
041
1
\u00a0
041
Derivatives,
\u00a0
included
\u00a0
in
\u00a0
hedge
\u00a0
accounting
5
5
5
Derivatives,
\u00a0
no
\u00a0
hedge
\u00a0
accounting
12
12
12
\u00a0
\n
Other
\u00a0
financial
\u00a0
liabilities
5
5
5
Carrying
\u00a0
amount
\u00a0
by
\u00a0
measurement
\u00a0
category
1
\u00a0
995
18
2
\u00a0
013
1
\u00a0
999
", "dimensions": { "concept": "ifrs-full:DisclosureOfFinancialInstrumentsAtFairValueThroughProfitOrLossExplanatory", "language": "en", "entity": "scheme:743700G7A9J1PHM3X223", "period": "2022-01-01T00:00:00/2023-01-01T00:00:00" } }, "ID_71": { "value": "
Accounting
\u00a0
principles
W\u00e4rtsil\u00e4
\u00a0
uses
\u00a0
the
\u00a0
following
\u00a0
categorisation
\u00a0
for
\u00a0
determining
\u00a0
and
\u00a0
disclosing
\u00a0
the
\u00a0
fair
\u00a0
value
\u00a0
of
\u00a0
financial
\u00a0
instruments
by
\u00a0
valuation
\u00a0
technique:
Level
\u00a0
1:
\u00a0
The
\u00a0
quoted
\u00a0
prices
\u00a0
for
\u00a0
the
\u00a0
financial
\u00a0
instruments
\u00a0
are
\u00a0
directly
\u00a0
and
\u00a0
regularly
\u00a0
available
\u00a0
on
\u00a0
active
\u00a0
publicly
traded
\u00a0
markets
\u00a0
or
\u00a0
other
\u00a0
publicly
\u00a0
available
\u00a0
sources.
Level
\u00a0
2:
\u00a0
The
\u00a0
prices
\u00a0
for
\u00a0
the
\u00a0
financial
\u00a0
instruments
\u00a0
are
\u00a0
determined
\u00a0
by
\u00a0
using
\u00a0
a
\u00a0
valuation
\u00a0
method
\u00a0
for
\u00a0
which
\u00a0
the
\u00a0
input
data
\u00a0
is
\u00a0
directly
\u00a0
or
\u00a0
indirectly
\u00a0
available
\u00a0
on
\u00a0
a
\u00a0
publicly
\u00a0
traded
\u00a0
markets
\u00a0
or
\u00a0
other
\u00a0
publicly
\u00a0
available
\u00a0
sources.
Level
\u00a0
3:
\u00a0
The
\u00a0
financial
\u00a0
instruments
\u00a0
are
\u00a0
categorised
\u00a0
into
\u00a0
level
\u00a0
3
\u00a0
fair
\u00a0
value
\u00a0
if
\u00a0
the
\u00a0
prices
\u00a0
for
\u00a0
the
\u00a0
inputs
\u00a0
of
\u00a0
the
valuation
\u00a0
method
\u00a0
are
\u00a0
not
\u00a0
publicly
\u00a0
available,
\u00a0
and
\u00a0
when
\u00a0
the
\u00a0
financial
\u00a0
instruments
\u00a0
are
\u00a0
measured
\u00a0
using
\u00a0
an
independent
\u00a0
valuation
\u00a0
method.
", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForFairValueMeasurementExplanatory", "language": "en", "entity": "scheme:743700G7A9J1PHM3X223", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00" } }, "ID_72": { "value": "
5.3.
\u00a0
CASH
\u00a0
AND
\u00a0
CASH
\u00a0
EQUIVALENTS
Accounting
\u00a0
principles
Cash
\u00a0
and
\u00a0
cash
\u00a0
equivalents
\u00a0
comprise
\u00a0
cash
\u00a0
in
\u00a0
hand,
\u00a0
deposits
\u00a0
held
\u00a0
at
\u00a0
call
\u00a0
with
\u00a0
banks,
\u00a0
and
\u00a0
other
\u00a0
short-term
cash
\u00a0
investments.
\u00a0
Other
\u00a0
short-term
\u00a0
cash
\u00a0
investments
\u00a0
are
\u00a0
highly
\u00a0
liquid
\u00a0
investments
\u00a0
that
\u00a0
are
\u00a0
subject
\u00a0
to
\u00a0
only
minor
\u00a0
fluctuations
\u00a0
in
\u00a0
value,
\u00a0
and
\u00a0
which
\u00a0
have
\u00a0
a
\u00a0
maturity
\u00a0
of
\u00a0
up
\u00a0
to
\u00a0
three
\u00a0
months
\u00a0
on
\u00a0
the
\u00a0
date
\u00a0
of
\u00a0
acquisition.
Cash
\u00a0
in
\u00a0
hand
\u00a0
and
\u00a0
deposits
\u00a0
held
\u00a0
at
\u00a0
call
\u00a0
are
\u00a0
presented
\u00a0
at
\u00a0
amortised
\u00a0
cost.
\u00a0
Other
\u00a0
cash
\u00a0
investments
\u00a0
are
\u00a0
mainly
measured
\u00a0
at
\u00a0
fair
\u00a0
value,
\u00a0
except
\u00a0
for
\u00a0
commercial
\u00a0
paper
\u00a0
investments
\u00a0
that
\u00a0
are
\u00a0
presented
\u00a0
at
\u00a0
amortised
\u00a0
cost.
Credit
\u00a0
accounts
\u00a0
related
\u00a0
to
\u00a0
Group
\u00a0
cash
\u00a0
pool
\u00a0
accounts
\u00a0
are
\u00a0
included
\u00a0
in
\u00a0
current
\u00a0
financial
\u00a0
liabilities.
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
MEUR
2023
2022
Cash
\u00a0
and
\u00a0
bank
\u00a0
balances*
809
452
Cash
\u00a0
equivalents
10
9
Total
819
461
*
\u00a0
EUR
\u00a0
185
\u00a0
million
\u00a0
(151)
\u00a0
of
\u00a0
cash
\u00a0
and
\u00a0
bank
\u00a0
balances
\u00a0
relate
\u00a0
to
\u00a0
cash
\u00a0
in
\u00a0
countries
\u00a0
where
\u00a0
repatriation
\u00a0
is
\u00a0
limited
\u00a0
due
to
\u00a0
local
\u00a0
regulation
\u00a0
and,
\u00a0
consequently,
\u00a0
the
\u00a0
cash
\u00a0
is
\u00a0
not
\u00a0
immediately
\u00a0
available
\u00a0
to
\u00a0
the
\u00a0
parent
\u00a0
company.
\u00a0
There
\u00a0
are
no
\u00a0
restrictions
\u00a0
to
\u00a0
use
\u00a0
the
\u00a0
cash
\u00a0
and
\u00a0
bank
\u00a0
balances
\u00a0
locally.
In
\u00a0
2022,
\u00a0
the
\u00a0
Group
\u00a0
also
\u00a0
had
\u00a0
cash
\u00a0
and
\u00a0
cash
\u00a0
equivalents
\u00a0
of
\u00a0
EUR
\u00a0
3
\u00a0
million
\u00a0
related
\u00a0
to
\u00a0
assets
\u00a0
held
\u00a0
for
\u00a0
sale.
", "dimensions": { "concept": "ifrs-full:DisclosureOfCashAndCashEquivalentsExplanatory", "language": "en", "entity": "scheme:743700G7A9J1PHM3X223", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00" } }, "ID_73": { "value": "
Accounting
\u00a0
principles
Cash
\u00a0
and
\u00a0
cash
\u00a0
equivalents
\u00a0
comprise
\u00a0
cash
\u00a0
in
\u00a0
hand,
\u00a0
deposits
\u00a0
held
\u00a0
at
\u00a0
call
\u00a0
with
\u00a0
banks,
\u00a0
and
\u00a0
other
\u00a0
short-term
cash
\u00a0
investments.
\u00a0
Other
\u00a0
short-term
\u00a0
cash
\u00a0
investments
\u00a0
are
\u00a0
highly
\u00a0
liquid
\u00a0
investments
\u00a0
that
\u00a0
are
\u00a0
subject
\u00a0
to
\u00a0
only
minor
\u00a0
fluctuations
\u00a0
in
\u00a0
value,
\u00a0
and
\u00a0
which
\u00a0
have
\u00a0
a
\u00a0
maturity
\u00a0
of
\u00a0
up
\u00a0
to
\u00a0
three
\u00a0
months
\u00a0
on
\u00a0
the
\u00a0
date
\u00a0
of
\u00a0
acquisition.
Cash
\u00a0
in
\u00a0
hand
\u00a0
and
\u00a0
deposits
\u00a0
held
\u00a0
at
\u00a0
call
\u00a0
are
\u00a0
presented
\u00a0
at
\u00a0
amortised
\u00a0
cost.
\u00a0
Other
\u00a0
cash
\u00a0
investments
\u00a0
are
\u00a0
mainly
measured
\u00a0
at
\u00a0
fair
\u00a0
value,
\u00a0
except
\u00a0
for
\u00a0
commercial
\u00a0
paper
\u00a0
investments
\u00a0
that
\u00a0
are
\u00a0
presented
\u00a0
at
\u00a0
amortised
\u00a0
cost.
Credit
\u00a0
accounts
\u00a0
related
\u00a0
to
\u00a0
Group
\u00a0
cash
\u00a0
pool
\u00a0
accounts
\u00a0
are
\u00a0
included
\u00a0
in
\u00a0
current
\u00a0
financial
\u00a0
liabilities.
", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyToDetermineComponentsOfCashAndCashEquivalents", "language": "en", "entity": "scheme:743700G7A9J1PHM3X223", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00" } }, "ID_74": { "value": "
5.5.
\u00a0
EQUITY
Equity
\u00a0
consists
\u00a0
of
\u00a0
share
\u00a0
capital,
\u00a0
share
\u00a0
premium,
\u00a0
translation
\u00a0
differences,
\u00a0
fair
\u00a0
value
\u00a0
reserve,
\u00a0
remeasurements
\u00a0
of
defined
\u00a0
benefit
\u00a0
liabilities
\u00a0
and
\u00a0
retained
\u00a0
earnings.
Share
\u00a0
capital
\u00a0
and
\u00a0
number
\u00a0
of
\u00a0
shares
In
\u00a0
2023,
\u00a0
the
\u00a0
Board
\u00a0
of
\u00a0
Directors
\u00a0
of
\u00a0
W\u00e4rtsil\u00e4
\u00a0
Corporation
\u00a0
decided
\u00a0
to
\u00a0
use
\u00a0
the
\u00a0
authorisation
\u00a0
given
\u00a0
by
\u00a0
the
\u00a0
Annual
General
\u00a0
Meeting
\u00a0
to
\u00a0
repurchase
\u00a0
the
\u00a0
company\u2019s
\u00a0
own
\u00a0
shares.
\u00a0
The
\u00a0
repurchases
\u00a0
started
\u00a0
on
\u00a0
26
\u00a0
April
\u00a0
2023
\u00a0
and
ended
\u00a0
on
\u00a0
2
\u00a0
May
\u00a0
2023.
\u00a0
The
\u00a0
amount
\u00a0
of
\u00a0
shares
\u00a0
increased
\u00a0
by
\u00a0
1,000,000,
\u00a0
and
\u00a0
therefore
\u00a0
following
\u00a0
the
\u00a0
repurchases,
the
\u00a0
company
\u00a0
holds
\u00a0
a
\u00a0
total
\u00a0
of
\u00a0
2,700,000
\u00a0
shares.
\u00a0
The
\u00a0
repurchased
\u00a0
shares
\u00a0
are
\u00a0
to
\u00a0
be
\u00a0
used
\u00a0
for
\u00a0
pay-outs
\u00a0
under
\u00a0
the
share-based
\u00a0
incentive
\u00a0
programmes
\u00a0
of
\u00a0
W\u00e4rtsil\u00e4
\u00a0
Corporation.
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
MEUR
Share
\u00a0
capital
Share
capital
Share
premium
Total
1
\u00a0
January
\u00a0
2022
336
61
397
31
\u00a0
December
\u00a0
2022
336
61
397
31
\u00a0
December
\u00a0
2023
336
61
397
Number
\u00a0
of
\u00a0
shares
\u00a0
and
\u00a0
votes
Number
\u00a0
of
\u00a0
shares
\u00a0
outstanding
\u00a0
on
\u00a0
1
\u00a0
January
\u00a0
2023
590
\u00a0
023
\u00a0
390
Repurchase
\u00a0
of
\u00a0
own
\u00a0
shares
\u00a0
on
\u00a0
26
\u00a0
April
\u00a0
2023
-270
\u00a0
000
Repurchase
\u00a0
of
\u00a0
own
\u00a0
shares
\u00a0
on
\u00a0
27
\u00a0
April
\u00a0
2023
-250
\u00a0
000
Repurchase
\u00a0
of
\u00a0
own
\u00a0
shares
\u00a0
on
\u00a0
28
\u00a0
April
\u00a0
2023
-280
\u00a0
000
Repurchase
\u00a0
of
\u00a0
own
\u00a0
shares
\u00a0
on
\u00a0
2
\u00a0
May
\u00a0
2023
-200
\u00a0
000
Number
\u00a0
of
\u00a0
shares
\u00a0
outstanding
\u00a0
on
\u00a0
31
\u00a0
December
\u00a0
2023
589
\u00a0
023
\u00a0
390
Weighted
\u00a0
average
\u00a0
number
\u00a0
of
\u00a0
shares
\u00a0
outstanding
\u00a0
during
\u00a0
the
\u00a0
period
589
\u00a0
343
\u00a0
965
W\u00e4rtsil\u00e4's
\u00a0
share
\u00a0
does
\u00a0
not
\u00a0
have
\u00a0
a
\u00a0
nominal
\u00a0
value.
\u00a0
W\u00e4rtsil\u00e4
\u00a0
has
\u00a0
one
\u00a0
series
\u00a0
of
\u00a0
shares.
\u00a0
Each
\u00a0
share
\u00a0
is
\u00a0
assigned
\u00a0
one
vote
\u00a0
in
\u00a0
the
\u00a0
Annual
\u00a0
General
\u00a0
Meeting
\u00a0
and
\u00a0
has
\u00a0
an
\u00a0
equal
\u00a0
right
\u00a0
to
\u00a0
dividend.
Share
\u00a0
Capital
The
\u00a0
subscription
\u00a0
price
\u00a0
of
\u00a0
a
\u00a0
share
\u00a0
received
\u00a0
by
\u00a0
the
\u00a0
company
\u00a0
in
\u00a0
connection
\u00a0
with
\u00a0
share
\u00a0
issues
\u00a0
is
\u00a0
credited
\u00a0
to
\u00a0
the
share
\u00a0
capital,
\u00a0
unless
\u00a0
it
\u00a0
is
\u00a0
provided
\u00a0
in
\u00a0
the
\u00a0
share
\u00a0
issue
\u00a0
decision
\u00a0
that
\u00a0
a
\u00a0
part
\u00a0
of
\u00a0
the
\u00a0
subscription
\u00a0
price
\u00a0
is
\u00a0
to
\u00a0
be
recorded
\u00a0
in
\u00a0
the
\u00a0
fund
\u00a0
for
\u00a0
invested
\u00a0
non-restricted
\u00a0
equity.
Share
\u00a0
Premium
Share
\u00a0
premium
\u00a0
is
\u00a0
restricted
\u00a0
equity.
\u00a0
It
\u00a0
may
\u00a0
be
\u00a0
reduced
\u00a0
in
\u00a0
accordance
\u00a0
with
\u00a0
the
\u00a0
rules
\u00a0
applying
\u00a0
to
\u00a0
decreasing
share
\u00a0
capital
\u00a0
in
\u00a0
accordance
\u00a0
with
\u00a0
the
\u00a0
Finnish
\u00a0
Limited
\u00a0
Liability
\u00a0
Companies
\u00a0
Act.
\u00a0
It
\u00a0
can
\u00a0
also
\u00a0
be
\u00a0
used
\u00a0
to
\u00a0
increase
the
\u00a0
share
\u00a0
capital.
Translation
\u00a0
differences
Translating
\u00a0
foreign
\u00a0
subsidiaries'
\u00a0
financial
\u00a0
statements
\u00a0
by
\u00a0
using
\u00a0
different
\u00a0
exchange
\u00a0
rates
\u00a0
in
\u00a0
the
\u00a0
statement
\u00a0
of
comprehensive
\u00a0
income
\u00a0
and
\u00a0
in
\u00a0
the
\u00a0
statement
\u00a0
of
\u00a0
financial
\u00a0
position
\u00a0
causes
\u00a0
translation
\u00a0
differences,
\u00a0
which
\u00a0
are
recognised
\u00a0
in
\u00a0
equity.
\u00a0
Translation
\u00a0
differences
\u00a0
of
\u00a0
foreign
\u00a0
subsidiaries\u2019
\u00a0
acquisition
\u00a0
cost
\u00a0
eliminations
\u00a0
and
\u00a0
post-
acquisition
\u00a0
gains
\u00a0
and
\u00a0
losses
\u00a0
are
\u00a0
also
\u00a0
presented
\u00a0
in
\u00a0
equity.
\u00a0
Also,
\u00a0
translation
\u00a0
differences
\u00a0
arising
\u00a0
from
\u00a0
subsidiary
net
\u00a0
investments
\u00a0
and
\u00a0
non-current
\u00a0
subsidiary
\u00a0
loans
\u00a0
without
\u00a0
agreed
\u00a0
settlement
\u00a0
dates
\u00a0
are
\u00a0
presented
\u00a0
in
\u00a0
equity.
\u00a0
The
change
\u00a0
in
\u00a0
translation
\u00a0
differences
\u00a0
is
\u00a0
recognised
\u00a0
in
\u00a0
other
\u00a0
comprehensive
\u00a0
income.
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
Fair
\u00a0
value
\u00a0
reserve
Fair
\u00a0
value
\u00a0
reserve
\u00a0
includes
\u00a0
the
\u00a0
changes
\u00a0
in
\u00a0
fair
\u00a0
value
\u00a0
of
\u00a0
derivative
\u00a0
financial
\u00a0
instruments
\u00a0
if
\u00a0
the
\u00a0
hedging
\u00a0
is
effective
\u00a0
and
\u00a0
eligible
\u00a0
for
\u00a0
hedge
\u00a0
accounting,
\u00a0
and
\u00a0
the
\u00a0
hedge
\u00a0
relationship
\u00a0
is
\u00a0
still
\u00a0
continuing.
\u00a0
The
\u00a0
changes
\u00a0
in
\u00a0
items
included
\u00a0
in
\u00a0
fair
\u00a0
value
\u00a0
reserve
\u00a0
are
\u00a0
recognised
\u00a0
in
\u00a0
other
\u00a0
comprehensive
\u00a0
income.
MEUR
Foreign
exchange
hedges
Interest
rate
hedges
Total
\u00a0
cash
\u00a0
flow
hedges
Fair
\u00a0
value
\u00a0
reserve
\u00a0
on
\u00a0
1
\u00a0
January
\u00a0
2022,
\u00a0
gross
-21
-2
-22
Taxes
\u00a0
related
\u00a0
to
\u00a0
fair
\u00a0
value
\u00a0
adjustments
4
4
Fair
\u00a0
value
\u00a0
reserve
\u00a0
on
\u00a0
1
\u00a0
January
\u00a0
2022,
\u00a0
net
-17
-1
-18
Transferred
\u00a0
to
\u00a0
the
\u00a0
statement
\u00a0
of
\u00a0
income
\u00a0
or
\u00a0
financial
\u00a0
position
\u00a0
as
\u00a0
basis
adjustments,
\u00a0
net
\u00a0
of
\u00a0
taxes
2
2
Fair
\u00a0
value
\u00a0
adjustments
12
21
33
Taxes
\u00a0
related
\u00a0
to
\u00a0
fair
\u00a0
value
\u00a0
adjustments
-3
-4
-7
Fair
\u00a0
value
\u00a0
reserve
\u00a0
on
\u00a0
31
\u00a0
December
\u00a0
2022,
\u00a0
net
-7
17
9
Transferred
\u00a0
to
\u00a0
the
\u00a0
statement
\u00a0
of
\u00a0
income
\u00a0
or
\u00a0
financial
\u00a0
position
\u00a0
as
\u00a0
basis
adjustments,
\u00a0
net
\u00a0
of
\u00a0
taxes
3
3
Fair
\u00a0
value
\u00a0
adjustments
27
-7
20
Taxes
\u00a0
related
\u00a0
to
\u00a0
fair
\u00a0
value
\u00a0
adjustments
-3
1
-2
Fair
\u00a0
value
\u00a0
reserve
\u00a0
on
\u00a0
31
\u00a0
December
\u00a0
2023,
\u00a0
net
20
11
31
Parent
\u00a0
company's
\u00a0
distributable
\u00a0
funds
Accounting
\u00a0
principles
The
\u00a0
dividend
\u00a0
proposed
\u00a0
by
\u00a0
the
\u00a0
Board
\u00a0
of
\u00a0
Directors
\u00a0
is
\u00a0
deducted
\u00a0
from
\u00a0
distributable
\u00a0
equity
\u00a0
when
\u00a0
approved
\u00a0
by
\u00a0
the
company\u2019s
\u00a0
Annual
\u00a0
General
\u00a0
Meeting.
\u00a0
Unpaid
\u00a0
dividends
\u00a0
are
\u00a0
presented
\u00a0
as
\u00a0
liability
\u00a0
in
\u00a0
the
\u00a0
consolidated
\u00a0
financial
statements.
After
\u00a0
the
\u00a0
balance
\u00a0
sheet
\u00a0
date,
\u00a0
the
\u00a0
Board
\u00a0
of
\u00a0
Directors
\u00a0
proposed
\u00a0
that
\u00a0
a
\u00a0
dividend
\u00a0
of
\u00a0
EUR
0.32
\u00a0
per
\u00a0
share
\u00a0
be
\u00a0
paid
for
\u00a0
the
\u00a0
financial
\u00a0
period
\u00a0
2023,
\u00a0
the
\u00a0
total
\u00a0
dividend
\u00a0
payable
\u00a0
being
\u00a0
EUR
\u00a0
188
\u00a0
million.
\u00a0
The
\u00a0
remaining
\u00a0
part
\u00a0
of
\u00a0
the
retained
\u00a0
profits
\u00a0
will
\u00a0
be
\u00a0
carried
\u00a0
further
\u00a0
in
\u00a0
the
\u00a0
unrestricted
\u00a0
equity.
\u00a0
For
\u00a0
the
\u00a0
result
\u00a0
for
\u00a0
the
\u00a0
financial
\u00a0
period
\u00a0
2022,
\u00a0
a
dividend
\u00a0
of
\u00a0
EUR
0.26
\u00a0
per
\u00a0
share
\u00a0
was
\u00a0
distributed,
\u00a0
totalling
\u00a0
EUR
\u00a0
153
\u00a0
million,
\u00a0
and
\u00a0
the
\u00a0
rest
\u00a0
of
\u00a0
the
\u00a0
retained
\u00a0
profits
were
\u00a0
carried
\u00a0
further
\u00a0
in
\u00a0
the
\u00a0
unrestricted
\u00a0
equity.
Additional
\u00a0
information
\u00a0
on
\u00a0
equity
\u00a0
is
\u00a0
presented
\u00a0
in
\u00a0
Notes
\u00a0
to
\u00a0
the
\u00a0
parent
\u00a0
company
\u00a0
financial
\u00a0
statements,
\u00a0
in
\u00a0
Note
\u00a0
9.
Shareholders'
\u00a0
equity.
", "dimensions": { "concept": "ifrs-full:DisclosureOfShareCapitalReservesAndOtherEquityInterestExplanatory", "language": "en", "entity": "scheme:743700G7A9J1PHM3X223", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00" } }, "ID_75": { "value": "
Share
\u00a0
capital
\u00a0
and
\u00a0
number
\u00a0
of
\u00a0
shares
In
\u00a0
2023,
\u00a0
the
\u00a0
Board
\u00a0
of
\u00a0
Directors
\u00a0
of
\u00a0
W\u00e4rtsil\u00e4
\u00a0
Corporation
\u00a0
decided
\u00a0
to
\u00a0
use
\u00a0
the
\u00a0
authorisation
\u00a0
given
\u00a0
by
\u00a0
the
\u00a0
Annual
General
\u00a0
Meeting
\u00a0
to
\u00a0
repurchase
\u00a0
the
\u00a0
company\u2019s
\u00a0
own
\u00a0
shares.
\u00a0
The
\u00a0
repurchases
\u00a0
started
\u00a0
on
\u00a0
26
\u00a0
April
\u00a0
2023
\u00a0
and
ended
\u00a0
on
\u00a0
2
\u00a0
May
\u00a0
2023.
\u00a0
The
\u00a0
amount
\u00a0
of
\u00a0
shares
\u00a0
increased
\u00a0
by
\u00a0
1,000,000,
\u00a0
and
\u00a0
therefore
\u00a0
following
\u00a0
the
\u00a0
repurchases,
the
\u00a0
company
\u00a0
holds
\u00a0
a
\u00a0
total
\u00a0
of
\u00a0
2,700,000
\u00a0
shares.
\u00a0
The
\u00a0
repurchased
\u00a0
shares
\u00a0
are
\u00a0
to
\u00a0
be
\u00a0
used
\u00a0
for
\u00a0
pay-outs
\u00a0
under
\u00a0
the
share-based
\u00a0
incentive
\u00a0
programmes
\u00a0
of
\u00a0
W\u00e4rtsil\u00e4
\u00a0
Corporation.
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
MEUR
Share
\u00a0
capital
Share
capital
Share
premium
Total
1
\u00a0
January
\u00a0
2022
336
61
397
31
\u00a0
December
\u00a0
2022
336
61
397
31
\u00a0
December
\u00a0
2023
336
61
397
Number
\u00a0
of
\u00a0
shares
\u00a0
and
\u00a0
votes
Number
\u00a0
of
\u00a0
shares
\u00a0
outstanding
\u00a0
on
\u00a0
1
\u00a0
January
\u00a0
2023
590
\u00a0
023
\u00a0
390
Repurchase
\u00a0
of
\u00a0
own
\u00a0
shares
\u00a0
on
\u00a0
26
\u00a0
April
\u00a0
2023
-270
\u00a0
000
Repurchase
\u00a0
of
\u00a0
own
\u00a0
shares
\u00a0
on
\u00a0
27
\u00a0
April
\u00a0
2023
-250
\u00a0
000
Repurchase
\u00a0
of
\u00a0
own
\u00a0
shares
\u00a0
on
\u00a0
28
\u00a0
April
\u00a0
2023
-280
\u00a0
000
Repurchase
\u00a0
of
\u00a0
own
\u00a0
shares
\u00a0
on
\u00a0
2
\u00a0
May
\u00a0
2023
-200
\u00a0
000
Number
\u00a0
of
\u00a0
shares
\u00a0
outstanding
\u00a0
on
\u00a0
31
\u00a0
December
\u00a0
2023
589
\u00a0
023
\u00a0
390
Weighted
\u00a0
average
\u00a0
number
\u00a0
of
\u00a0
shares
\u00a0
outstanding
\u00a0
during
\u00a0
the
\u00a0
period
589
\u00a0
343
\u00a0
965
", "dimensions": { "concept": "ifrs-full:DisclosureOfTreasurySharesExplanatory", "language": "en", "entity": "scheme:743700G7A9J1PHM3X223", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00" } }, "ID_76": { "value": "
Share
\u00a0
Capital
The
\u00a0
subscription
\u00a0
price
\u00a0
of
\u00a0
a
\u00a0
share
\u00a0
received
\u00a0
by
\u00a0
the
\u00a0
company
\u00a0
in
\u00a0
connection
\u00a0
with
\u00a0
share
\u00a0
issues
\u00a0
is
\u00a0
credited
\u00a0
to
\u00a0
the
share
\u00a0
capital,
\u00a0
unless
\u00a0
it
\u00a0
is
\u00a0
provided
\u00a0
in
\u00a0
the
\u00a0
share
\u00a0
issue
\u00a0
decision
\u00a0
that
\u00a0
a
\u00a0
part
\u00a0
of
\u00a0
the
\u00a0
subscription
\u00a0
price
\u00a0
is
\u00a0
to
\u00a0
be
recorded
\u00a0
in
\u00a0
the
\u00a0
fund
\u00a0
for
\u00a0
invested
\u00a0
non-restricted
\u00a0
equity.
", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForIssuedCapitalExplanatory", "language": "en", "entity": "scheme:743700G7A9J1PHM3X223", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00" } }, "ID_77": { "value": "
Translation
\u00a0
differences
Translating
\u00a0
foreign
\u00a0
subsidiaries'
\u00a0
financial
\u00a0
statements
\u00a0
by
\u00a0
using
\u00a0
different
\u00a0
exchange
\u00a0
rates
\u00a0
in
\u00a0
the
\u00a0
statement
\u00a0
of
comprehensive
\u00a0
income
\u00a0
and
\u00a0
in
\u00a0
the
\u00a0
statement
\u00a0
of
\u00a0
financial
\u00a0
position
\u00a0
causes
\u00a0
translation
\u00a0
differences,
\u00a0
which
\u00a0
are
recognised
\u00a0
in
\u00a0
equity.
\u00a0
Translation
\u00a0
differences
\u00a0
of
\u00a0
foreign
\u00a0
subsidiaries\u2019
\u00a0
acquisition
\u00a0
cost
\u00a0
eliminations
\u00a0
and
\u00a0
post-
acquisition
\u00a0
gains
\u00a0
and
\u00a0
losses
\u00a0
are
\u00a0
also
\u00a0
presented
\u00a0
in
\u00a0
equity.
\u00a0
Also,
\u00a0
translation
\u00a0
differences
\u00a0
arising
\u00a0
from
\u00a0
subsidiary
net
\u00a0
investments
\u00a0
and
\u00a0
non-current
\u00a0
subsidiary
\u00a0
loans
\u00a0
without
\u00a0
agreed
\u00a0
settlement
\u00a0
dates
\u00a0
are
\u00a0
presented
\u00a0
in
\u00a0
equity.
\u00a0
The
change
\u00a0
in
\u00a0
translation
\u00a0
differences
\u00a0
is
\u00a0
recognised
\u00a0
in
\u00a0
other
\u00a0
comprehensive
\u00a0
income.
", "dimensions": { "concept": "ifrs-full:DisclosureOfEffectOfChangesInForeignExchangeRatesExplanatory", "language": "en", "entity": "scheme:743700G7A9J1PHM3X223", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00" } }, "ID_78": { "value": "
Accounting
\u00a0
principles
The
\u00a0
dividend
\u00a0
proposed
\u00a0
by
\u00a0
the
\u00a0
Board
\u00a0
of
\u00a0
Directors
\u00a0
is
\u00a0
deducted
\u00a0
from
\u00a0
distributable
\u00a0
equity
\u00a0
when
\u00a0
approved
\u00a0
by
\u00a0
the
company\u2019s
\u00a0
Annual
\u00a0
General
\u00a0
Meeting.
\u00a0
Unpaid
\u00a0
dividends
\u00a0
are
\u00a0
presented
\u00a0
as
\u00a0
liability
\u00a0
in
\u00a0
the
\u00a0
consolidated
\u00a0
financial
statements.
After
\u00a0
the
\u00a0
balance
\u00a0
sheet
\u00a0
date,
\u00a0
the
\u00a0
Board
\u00a0
of
\u00a0
Directors
\u00a0
proposed
\u00a0
that
\u00a0
a
\u00a0
dividend
\u00a0
of
\u00a0
EUR
0.32
\u00a0
per
\u00a0
share
\u00a0
be
\u00a0
paid
for
\u00a0
the
\u00a0
financial
\u00a0
period
\u00a0
2023,
\u00a0
the
\u00a0
total
\u00a0
dividend
\u00a0
payable
\u00a0
being
\u00a0
EUR
\u00a0
188
\u00a0
million.
\u00a0
The
\u00a0
remaining
\u00a0
part
\u00a0
of
\u00a0
the
retained
\u00a0
profits
\u00a0
will
\u00a0
be
\u00a0
carried
\u00a0
further
\u00a0
in
\u00a0
the
\u00a0
unrestricted
\u00a0
equity.
\u00a0
For
\u00a0
the
\u00a0
result
\u00a0
for
\u00a0
the
\u00a0
financial
\u00a0
period
\u00a0
2022,
\u00a0
a
dividend
\u00a0
of
\u00a0
EUR
0.26
\u00a0
per
\u00a0
share
\u00a0
was
\u00a0
distributed,
\u00a0
totalling
\u00a0
EUR
\u00a0
153
\u00a0
million,
\u00a0
and
\u00a0
the
\u00a0
rest
\u00a0
of
\u00a0
the
\u00a0
retained
\u00a0
profits
were
\u00a0
carried
\u00a0
further
\u00a0
in
\u00a0
the
\u00a0
unrestricted
\u00a0
equity.
", "dimensions": { "concept": "ifrs-full:DisclosureOfDividendsExplanatory", "language": "en", "entity": "scheme:743700G7A9J1PHM3X223", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00" } }, "ID_79": { "value": "
Accounting
\u00a0
principles
The
\u00a0
dividend
\u00a0
proposed
\u00a0
by
\u00a0
the
\u00a0
Board
\u00a0
of
\u00a0
Directors
\u00a0
is
\u00a0
deducted
\u00a0
from
\u00a0
distributable
\u00a0
equity
\u00a0
when
\u00a0
approved
\u00a0
by
\u00a0
the
company\u2019s
\u00a0
Annual
\u00a0
General
\u00a0
Meeting.
\u00a0
Unpaid
\u00a0
dividends
\u00a0
are
\u00a0
presented
\u00a0
as
\u00a0
liability
\u00a0
in
\u00a0
the
\u00a0
consolidated
\u00a0
financial
statements.
", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForDividendsExplanatory", "language": "en", "entity": "scheme:743700G7A9J1PHM3X223", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00" } }, "ID_80": { "value": "32", "decimals": 0, "dimensions": { "concept": "ifrs-full:DividendsRecognisedAsDistributionsToOwnersPerShare", "entity": "scheme:743700G7A9J1PHM3X223", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00", "unit": "iso4217:EUR/xbrli:shares" } }, "ID_81": { "value": "26", "decimals": 0, "dimensions": { "concept": "ifrs-full:DividendsRecognisedAsDistributionsToOwnersPerShare", "entity": "scheme:743700G7A9J1PHM3X223", "period": "2022-01-01T00:00:00/2023-01-01T00:00:00", "unit": "iso4217:EUR/xbrli:shares" } }, "ID_82": { "value": "
Accounting
\u00a0
principles
Derivatives
\u00a0
and
\u00a0
hedge
\u00a0
accounting
Derivatives
\u00a0
including
\u00a0
embedded
\u00a0
derivatives
\u00a0
are
\u00a0
initially
\u00a0
recognised
\u00a0
on
\u00a0
the
\u00a0
statement
\u00a0
of
\u00a0
financial
\u00a0
position
at
fair
\u00a0
value
\u00a0
and
\u00a0
are
\u00a0
subsequently
\u00a0
classified
\u00a0
and
\u00a0
measured
\u00a0
at
\u00a0
their
\u00a0
fair
\u00a0
value
\u00a0
at
\u00a0
the
\u00a0
end
\u00a0
of
\u00a0
each
\u00a0
reporting
period.
\u00a0
Gains
\u00a0
and
\u00a0
losses
\u00a0
from
\u00a0
the
\u00a0
fair
\u00a0
value
\u00a0
measurement
\u00a0
are
\u00a0
recognised
\u00a0
in
\u00a0
the
\u00a0
statement
\u00a0
of
\u00a0
income
\u00a0
as
determined
\u00a0
by
\u00a0
the
\u00a0
purpose
\u00a0
of
\u00a0
the
\u00a0
derivatives.
W\u00e4rtsil\u00e4
\u00a0
has
\u00a0
a
\u00a0
guideline
\u00a0
in
\u00a0
place
\u00a0
to
\u00a0
identify
\u00a0
embedded
\u00a0
derivatives.
Hedge
\u00a0
accounting
W\u00e4rtsil\u00e4
\u00a0
hedges
\u00a0
in
\u00a0
net
\u00a0
position
\u00a0
its
\u00a0
sales
\u00a0
and
\u00a0
purchases
\u00a0
in
\u00a0
foreign
\u00a0
currencies
\u00a0
with
\u00a0
foreign
\u00a0
exchange
forwards
\u00a0
or
\u00a0
currency
\u00a0
options,
\u00a0
and
\u00a0
W\u00e4rtsil\u00e4
\u00a0
applies
\u00a0
hedge
\u00a0
accounting
\u00a0
according
\u00a0
to
\u00a0
IFRS
\u00a0
9
\u00a0
to
\u00a0
the
\u00a0
majority
\u00a0
of
these
\u00a0
foreign
\u00a0
exchange
\u00a0
forwards.
\u00a0
Forward
\u00a0
points
\u00a0
are
\u00a0
excluded
\u00a0
from
\u00a0
the
\u00a0
hedge
\u00a0
relationship
\u00a0
and
\u00a0
they
\u00a0
are
booked
\u00a0
directly
\u00a0
in
\u00a0
the
\u00a0
statement
\u00a0
of
\u00a0
income
\u00a0
as
\u00a0
financial
\u00a0
income
\u00a0
or
\u00a0
expenses.
\u00a0
In
\u00a0
case
\u00a0
of
\u00a0
a
\u00a0
hedge
\u00a0
being
\u00a0
fully
or
\u00a0
partially
\u00a0
discontinued,
\u00a0
the
\u00a0
discontinued
\u00a0
portion
\u00a0
is
\u00a0
immediately
\u00a0
recognised
\u00a0
in
\u00a0
the
\u00a0
statement
\u00a0
of
\u00a0
income
\u00a0
as
other
\u00a0
operating
\u00a0
income
\u00a0
or
\u00a0
expenses.
The
\u00a0
Group
\u00a0
documents
\u00a0
the
\u00a0
relationship
\u00a0
between
\u00a0
each
\u00a0
hedging
\u00a0
instrument
\u00a0
and
\u00a0
the
\u00a0
hedged
\u00a0
item
\u00a0
upon
entering
\u00a0
into
\u00a0
a
\u00a0
hedging
\u00a0
arrangement,
\u00a0
along
\u00a0
with
\u00a0
the
\u00a0
risk
\u00a0
management
\u00a0
objective
\u00a0
and
\u00a0
the
\u00a0
strategy
\u00a0
applied.
Through
\u00a0
this
\u00a0
process,
\u00a0
the
\u00a0
hedging
\u00a0
instrument
\u00a0
is
\u00a0
linked
\u00a0
to
\u00a0
the
\u00a0
relevant
\u00a0
assets
\u00a0
and
\u00a0
liabilities,
\u00a0
projected
business
\u00a0
transactions,
\u00a0
or
\u00a0
binding
\u00a0
contracts.
W\u00e4rtsil\u00e4
\u00a0
designates
\u00a0
its
\u00a0
hedge
\u00a0
relationships
\u00a0
of
\u00a0
foreign
\u00a0
exchange
\u00a0
hedges
\u00a0
as
\u00a0
either
\u00a0
hedges
\u00a0
of
\u00a0
highly
\u00a0
probable
forecast
\u00a0
transactions
\u00a0
or
\u00a0
firm
\u00a0
commitments.
\u00a0
Hedge
\u00a0
accounting
\u00a0
relationships
\u00a0
are
\u00a0
designated
\u00a0
up
\u00a0
to
\u00a0
the
\u00a0
point
\u00a0
of
recognition
\u00a0
of
\u00a0
the
\u00a0
related
\u00a0
receivable
\u00a0
or
\u00a0
payable.
The
\u00a0
Group
\u00a0
uses
\u00a0
a
\u00a0
hedge
\u00a0
designation
\u00a0
for
\u00a0
foreign
\u00a0
exchange
hedging,
\u00a0
where
\u00a0
critical
\u00a0
terms,
\u00a0
currency
\u00a0
and
amount,
\u00a0
match
\u00a0
or
\u00a0
are
\u00a0
closely
\u00a0
aligned
\u00a0
between
\u00a0
the
\u00a0
hedging
\u00a0
instrument
\u00a0
and
\u00a0
the
\u00a0
hedged
\u00a0
item.
\u00a0
Additionally,
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
hedge
\u00a0
designation
\u00a0
documentation
\u00a0
includes
\u00a0
the
\u00a0
time
\u00a0
period
\u00a0
when
\u00a0
forecasted
\u00a0
transactions
\u00a0
are
\u00a0
expected
\u00a0
to
affect
\u00a0
the
\u00a0
statement
\u00a0
of
\u00a0
income.
\u00a0
The
\u00a0
hedge
\u00a0
ratio
\u00a0
is
\u00a0
typically
\u00a0
100%.
\u00a0
Since
\u00a0
underlying
\u00a0
risks
\u00a0
match,
\u00a0
hedging
instruments
\u00a0
are
\u00a0
considered
\u00a0
to
\u00a0
offset
\u00a0
any
\u00a0
changes
\u00a0
related
\u00a0
to
\u00a0
the
\u00a0
hedged
\u00a0
transactions.
\u00a0
However,
\u00a0
W\u00e4rtsil\u00e4
applies
\u00a0
a
\u00a0
roll-forward
\u00a0
strategy
\u00a0
where
\u00a0
derivatives
\u00a0
are
\u00a0
roll-forwarded
\u00a0
or
\u00a0
terminated
\u00a0
early
\u00a0
to
\u00a0
match
\u00a0
these
underlying
\u00a0
transactions.
\u00a0
Hedge
\u00a0
effectiveness
\u00a0
requirements
\u00a0
are
\u00a0
assessed
\u00a0
in
\u00a0
accordance
\u00a0
with
\u00a0
IFRS
\u00a0
9
requirements,
\u00a0
including
\u00a0
requirements
\u00a0
for
\u00a0
economic
\u00a0
relationship,
\u00a0
credit
\u00a0
risk
\u00a0
and
\u00a0
hedge
\u00a0
ratio.
As
\u00a0
external
\u00a0
hedges
\u00a0
are
\u00a0
typically
\u00a0
made
\u00a0
for
\u00a0
short
\u00a0
maturities
\u00a0
(up
\u00a0
to
\u00a0
1
\u00a0
year)
\u00a0
and
\u00a0
only
\u00a0
high
\u00a0
credit
\u00a0
quality
\u00a0
(A-
minimum
\u00a0
rating
\u00a0
requirement)
\u00a0
counterparties
\u00a0
are
\u00a0
utilised,
\u00a0
counterparty
\u00a0
credit
\u00a0
risk
\u00a0
is
\u00a0
expected
\u00a0
to
\u00a0
have
minimal
\u00a0
effect
\u00a0
on
\u00a0
hedge
\u00a0
valuations.
\u00a0
Due
\u00a0
to
\u00a0
some
\u00a0
underlying
\u00a0
hedged
\u00a0
cash
\u00a0
flows
\u00a0
having
\u00a0
longer
\u00a0
maturities
than
\u00a0
related
\u00a0
hedges,
\u00a0
the
\u00a0
changes
\u00a0
in
\u00a0
present
\u00a0
value
\u00a0
of
\u00a0
the
\u00a0
hedge
\u00a0
and
\u00a0
the
\u00a0
underlying
\u00a0
cash
\u00a0
flow
\u00a0
do
\u00a0
not
\u00a0
always
fully
\u00a0
offset
\u00a0
each
\u00a0
other
\u00a0
during
\u00a0
the
\u00a0
lifetime
\u00a0
of
\u00a0
a
\u00a0
hedge.
\u00a0
This
\u00a0
source
\u00a0
of
\u00a0
ineffectiveness
\u00a0
is
\u00a0
calculated
\u00a0
on
\u00a0
a
quarterly
\u00a0
basis
\u00a0
and
\u00a0
recognised
\u00a0
in
\u00a0
the
\u00a0
statement
\u00a0
of
\u00a0
income
\u00a0
as
\u00a0
other
\u00a0
operating
\u00a0
income
\u00a0
or
\u00a0
expenses
\u00a0
on
\u00a0
Group
level.
Additionally
\u00a0
hedge
\u00a0
accounting
\u00a0
may
\u00a0
be
\u00a0
applied
\u00a0
to
\u00a0
interest
\u00a0
rate
\u00a0
hedges.
\u00a0
In
\u00a0
these
\u00a0
cases,
\u00a0
critical
\u00a0
terms,
\u00a0
floating
rate
\u00a0
reference
\u00a0
rate,
\u00a0
and
\u00a0
amortisation
\u00a0
schedule,
\u00a0
are
\u00a0
matched
\u00a0
so
\u00a0
the
\u00a0
hedge
\u00a0
is
\u00a0
expected
\u00a0
to
\u00a0
be
\u00a0
highly
\u00a0
effective.
As
\u00a0
only
\u00a0
high
\u00a0
credit
\u00a0
quality
\u00a0
counterparties
\u00a0
under
\u00a0
ISDA
\u00a0
Master
\u00a0
Agreements
\u00a0
are
\u00a0
utilised,
\u00a0
counterparty
\u00a0
credit
risk
\u00a0
is
\u00a0
expected
\u00a0
to
\u00a0
have
\u00a0
minimal
\u00a0
effect
\u00a0
on
\u00a0
hedge
\u00a0
valuations.
Cash
\u00a0
flow
\u00a0
hedge
Changes
\u00a0
in
\u00a0
the
\u00a0
fair
\u00a0
value
\u00a0
of
\u00a0
derivative
\u00a0
contracts
\u00a0
designated
\u00a0
and
\u00a0
qualifying
\u00a0
as
\u00a0
cash
\u00a0
flow
\u00a0
hedges
\u00a0
are
recognised
\u00a0
in
\u00a0
other
\u00a0
comprehensive
\u00a0
income
\u00a0
and
\u00a0
presented
\u00a0
in
\u00a0
the
\u00a0
fair
\u00a0
value
\u00a0
reserve
\u00a0
in
\u00a0
equity,
\u00a0
provided
\u00a0
that
the
\u00a0
hedging
\u00a0
is
\u00a0
effective.
In
\u00a0
the
\u00a0
case
\u00a0
of
\u00a0
foreign
\u00a0
exchange
\u00a0
forwards,
\u00a0
the
\u00a0
spot
\u00a0
element
\u00a0
is
\u00a0
included
\u00a0
for
\u00a0
the
hedging
\u00a0
relationship
\u00a0
whereas
\u00a0
forward
\u00a0
points
\u00a0
have
\u00a0
been
\u00a0
excluded
\u00a0
from
\u00a0
the
\u00a0
hedge
\u00a0
designation.
Any
\u00a0
gain
\u00a0
or
loss
\u00a0
in
\u00a0
the
\u00a0
fair
\u00a0
value
\u00a0
reserve
\u00a0
related
\u00a0
to
\u00a0
derivatives
\u00a0
accumulated
\u00a0
through
\u00a0
other
\u00a0
comprehensive
\u00a0
income
\u00a0
is
reported
\u00a0
in
\u00a0
the
\u00a0
statement
\u00a0
of
\u00a0
income
\u00a0
in
\u00a0
the
\u00a0
same
\u00a0
period
\u00a0
as
\u00a0
any
\u00a0
transactions
\u00a0
relating
\u00a0
to
\u00a0
the
\u00a0
hedged
obligations
\u00a0
or
\u00a0
estimates.
\u00a0
Result
\u00a0
from
\u00a0
net
\u00a0
position
\u00a0
hedges
\u00a0
is
\u00a0
reported
\u00a0
on
\u00a0
a
\u00a0
separate
\u00a0
line
\u00a0
in
\u00a0
the
\u00a0
statement
\u00a0
of
income.
\u00a0
Basis
\u00a0
adjustments
\u00a0
related
\u00a0
to
\u00a0
derivatives
\u00a0
are
\u00a0
reported
\u00a0
in
\u00a0
contract
\u00a0
assets,
\u00a0
contract
\u00a0
liabilities,
\u00a0
and
inventories,
\u00a0
according
\u00a0
to
\u00a0
the
\u00a0
hedged
\u00a0
item.
\u00a0
The
\u00a0
ineffective
\u00a0
portion
\u00a0
is
\u00a0
immediately
\u00a0
recognised
\u00a0
in
\u00a0
the
statement
\u00a0
of
\u00a0
income
\u00a0
as
\u00a0
other
\u00a0
operating
\u00a0
income
\u00a0
or
\u00a0
expenses.
\u00a0
Changes
\u00a0
in
\u00a0
fair
\u00a0
value
\u00a0
of
\u00a0
foreign
\u00a0
exchange
derivatives
\u00a0
due
\u00a0
to
\u00a0
interest
\u00a0
rate
\u00a0
differentials
\u00a0
(impact
\u00a0
of
\u00a0
forward
\u00a0
points)
\u00a0
are
\u00a0
recognised
\u00a0
in
\u00a0
the
\u00a0
statement
\u00a0
of
income
\u00a0
as
\u00a0
financial
\u00a0
income
\u00a0
or
\u00a0
expenses.
Cash
\u00a0
flow
\u00a0
hedge
\u00a0
against
\u00a0
a
\u00a0
variable
\u00a0
interest
\u00a0
rate
\u00a0
in
\u00a0
a
\u00a0
lease
\u00a0
contract
\u00a0
is
\u00a0
included
\u00a0
in
\u00a0
the
\u00a0
statement
\u00a0
of
\u00a0
income
as
\u00a0
other
\u00a0
operating
\u00a0
income
\u00a0
and
\u00a0
financial
\u00a0
income
\u00a0
and
\u00a0
expenses.
More
\u00a0
information
\u00a0
on
\u00a0
fair
\u00a0
value
\u00a0
adjustments
\u00a0
related
\u00a0
to
\u00a0
cash
\u00a0
flow
\u00a0
hedges
\u00a0
is
\u00a0
presented
\u00a0
in
\u00a0
Note
\u00a0
5.5.
\u00a0
Equity,
and
\u00a0
more
\u00a0
information
\u00a0
on
\u00a0
the
\u00a0
ineffective
\u00a0
portion
\u00a0
of
\u00a0
cash
\u00a0
flow
\u00a0
hedges
\u00a0
is
\u00a0
presented
\u00a0
in
\u00a0
Note
\u00a0
5.1.
\u00a0
Financial
income
\u00a0
and
\u00a0
expenses.
", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForDerivativeFinancialInstrumentsAndHedgingExplanatory", "language": "en", "entity": "scheme:743700G7A9J1PHM3X223", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00" } }, "ID_83": { "value": "
5.8.
\u00a0
FINANCIAL
\u00a0
RISKS
General
W\u00e4rtsil\u00e4
\u00a0
has
\u00a0
a
\u00a0
centralised
\u00a0
Group
\u00a0
Treasury,
\u00a0
which
\u00a0
has
\u00a0
two
\u00a0
main
\u00a0
objectives:
\u00a0
1)
\u00a0
to
\u00a0
arrange
\u00a0
adequate
\u00a0
funding
\u00a0
for
the
\u00a0
Group\u2019s
\u00a0
underlying
\u00a0
operations
\u00a0
on
\u00a0
competitive
\u00a0
terms
\u00a0
and
\u00a0
2)
\u00a0
to
\u00a0
identify
\u00a0
and
\u00a0
evaluate
\u00a0
the
\u00a0
financial
\u00a0
risks
\u00a0
within
the
\u00a0
Group
\u00a0
and
\u00a0
implement
\u00a0
the
\u00a0
hedges
\u00a0
for
\u00a0
the
\u00a0
Group
\u00a0
companies.
The
\u00a0
objective
\u00a0
is
\u00a0
to
\u00a0
hedge
\u00a0
against
\u00a0
unfavourable
\u00a0
changes
\u00a0
in
\u00a0
the
\u00a0
financial
\u00a0
markets
\u00a0
and
\u00a0
to
\u00a0
minimise
\u00a0
the
\u00a0
impact
\u00a0
of
foreign
\u00a0
exchange,
\u00a0
interest
\u00a0
rate,
\u00a0
credit,
\u00a0
and
\u00a0
liquidity
\u00a0
risks
\u00a0
on
\u00a0
the
\u00a0
Group\u2019s
\u00a0
cash
\u00a0
reserves,
\u00a0
profits,
\u00a0
and
\u00a0
shareholder
equity.
The
\u00a0
Financial
\u00a0
Risk
\u00a0
Policy
\u00a0
is
\u00a0
approved
\u00a0
by
\u00a0
the
\u00a0
Board
\u00a0
of
\u00a0
Directors.
\u00a0
The
\u00a0
Group
\u00a0
Treasury
\u00a0
employs
\u00a0
only
\u00a0
such
instruments
\u00a0
whose
\u00a0
market
\u00a0
value
\u00a0
and
\u00a0
risk
\u00a0
profile
\u00a0
it
\u00a0
can
\u00a0
reliably
\u00a0
monitor.
Foreign
\u00a0
exchange
\u00a0
risk
Foreign
\u00a0
exchange
\u00a0
exposures
\u00a0
are
\u00a0
monitored
\u00a0
on
\u00a0
business
\u00a0
level,
\u00a0
hedged
\u00a0
on
\u00a0
a
\u00a0
subsidiary
\u00a0
level
\u00a0
against
\u00a0
the
\u00a0
Group
Treasury,
\u00a0
and
\u00a0
then
\u00a0
netted
\u00a0
and
\u00a0
covered
\u00a0
externally
\u00a0
on
\u00a0
Group
\u00a0
level
\u00a0
by
\u00a0
the
\u00a0
Group
\u00a0
Treasury.
\u00a0
All
\u00a0
material
\u00a0
sales
\u00a0
and
purchase
\u00a0
contracts
\u00a0
with
\u00a0
fixed
\u00a0
foreign
\u00a0
currency
\u00a0
amounts,
\u00a0
including
\u00a0
both
\u00a0
future
\u00a0
cash
\u00a0
flows
\u00a0
and
\u00a0
related
\u00a0
accounts
receivable
\u00a0
and
\u00a0
payable,
\u00a0
are
\u00a0
hedged.
\u00a0
The
\u00a0
estimated
\u00a0
future
\u00a0
commercial
\u00a0
exposures
\u00a0
are
\u00a0
evaluated
\u00a0
by
\u00a0
the
Businesses,
\u00a0
and
\u00a0
the
\u00a0
level
\u00a0
of
\u00a0
hedging
\u00a0
is
\u00a0
decided
\u00a0
by
\u00a0
the
\u00a0
Board
\u00a0
of
\u00a0
Management.
\u00a0
Hedge
\u00a0
accounting
\u00a0
in
accordance
\u00a0
with
\u00a0
IFRS
\u00a0
9
\u00a0
is
\u00a0
applied
\u00a0
to
\u00a0
most
\u00a0
of
\u00a0
the
\u00a0
hedges
\u00a0
of
\u00a0
these
\u00a0
exposures.
\u00a0
The
\u00a0
hedges
\u00a0
cover
\u00a0
such
\u00a0
time
periods
\u00a0
that
\u00a0
both
\u00a0
the
\u00a0
sales
\u00a0
prices
\u00a0
and
\u00a0
purchase
\u00a0
costs
\u00a0
can
\u00a0
be
\u00a0
adjusted
\u00a0
to
\u00a0
new
\u00a0
relevant
\u00a0
exchange
\u00a0
rates.
\u00a0
These
periods
\u00a0
vary
\u00a0
among
\u00a0
Group
\u00a0
companies
\u00a0
from
\u00a0
one
\u00a0
month
\u00a0
to
\u00a0
two
\u00a0
years.
\u00a0
The
\u00a0
Group
\u00a0
also
\u00a0
hedges
\u00a0
its
\u00a0
position
\u00a0
of
\u00a0
the
statement
\u00a0
of
\u00a0
financial
\u00a0
position,
\u00a0
which
\u00a0
includes
\u00a0
cash
\u00a0
balances,
\u00a0
loans/deposits,
\u00a0
as
\u00a0
well
\u00a0
as
\u00a0
other
\u00a0
receivables
\u00a0
and
payables
\u00a0
denominated
\u00a0
in
\u00a0
foreign
\u00a0
currencies.
As
\u00a0
field
\u00a0
service
\u00a0
work
\u00a0
is
\u00a0
invoiced
\u00a0
in
\u00a0
local
\u00a0
currencies,
\u00a0
there
\u00a0
is
\u00a0
some
\u00a0
foreign
\u00a0
exchange
\u00a0
change
\u00a0
related
\u00a0
volatility
\u00a0
in
the
\u00a0
consolidated
\u00a0
net
\u00a0
sales.
\u00a0
However,
\u00a0
the
\u00a0
effect
\u00a0
on
\u00a0
the
\u00a0
profitability
\u00a0
is
\u00a0
limited
\u00a0
as
\u00a0
the
\u00a0
related
\u00a0
costs
\u00a0
are
\u00a0
in
\u00a0
the
same
\u00a0
currency.
\u00a0
Spare
\u00a0
part
\u00a0
sales
\u00a0
are
\u00a0
based
\u00a0
on
\u00a0
a
\u00a0
euro
\u00a0
price
\u00a0
list
\u00a0
and
\u00a0
related
\u00a0
purchases
\u00a0
in
\u00a0
non-euro
\u00a0
currencies
are
\u00a0
hedged,
\u00a0
so
\u00a0
the
\u00a0
effect
\u00a0
from
\u00a0
foreign
\u00a0
currency
\u00a0
rate
\u00a0
changes
\u00a0
on
\u00a0
spare
\u00a0
part
\u00a0
sales
\u00a0
is
\u00a0
minimal.
\u00a0
As
project/hardware
\u00a0
sales/purchases,
\u00a0
as
\u00a0
well
\u00a0
as
\u00a0
estimated
\u00a0
currency
\u00a0
exposures
\u00a0
from
\u00a0
long-term
\u00a0
agreements,
\u00a0
are
hedged,
\u00a0
the
\u00a0
Group
\u00a0
does
\u00a0
not
\u00a0
expect
\u00a0
significant
\u00a0
gains/losses
\u00a0
from
\u00a0
foreign
\u00a0
exchange
\u00a0
rate
\u00a0
changes
\u00a0
in
\u00a0
2024
related
\u00a0
to
\u00a0
its
\u00a0
operations,
\u00a0
excluding
\u00a0
internal
\u00a0
financing.
The
\u00a0
instruments,
\u00a0
and
\u00a0
their
\u00a0
nominal
\u00a0
values,
\u00a0
used
\u00a0
to
\u00a0
hedge
\u00a0
the
\u00a0
Group\u2019s
\u00a0
foreign
\u00a0
exchange
\u00a0
exposures
\u00a0
are
\u00a0
listed
in
\u00a0
Note
\u00a0
5.7.
\u00a0
Derivative
\u00a0
financial
\u00a0
instruments.
Since
\u00a0
W\u00e4rtsil\u00e4
\u00a0
has
\u00a0
subsidiaries
\u00a0
and
\u00a0
joint
\u00a0
ventures
\u00a0
outside
\u00a0
the
\u00a0
euro
\u00a0
zone,
\u00a0
the
\u00a0
Group\u2019s
\u00a0
equity,
\u00a0
goodwill
\u00a0
and
purchase
\u00a0
price
\u00a0
allocations
\u00a0
are
\u00a0
sensitive
\u00a0
to
\u00a0
exchange
\u00a0
rate
\u00a0
fluctuations.
\u00a0
At
\u00a0
the
\u00a0
end
\u00a0
of
\u00a0
2023,
\u00a0
the
\u00a0
net
\u00a0
assets
\u00a0
of
W\u00e4rtsil\u00e4\u2019s
\u00a0
foreign
\u00a0
subsidiaries
\u00a0
and
\u00a0
joint
\u00a0
ventures
\u00a0
outside
\u00a0
the
\u00a0
euro
\u00a0
zone
\u00a0
totalled
\u00a0
EUR
\u00a0
989
\u00a0
million
\u00a0
(998).
\u00a0
In
addition,
\u00a0
goodwill
\u00a0
and
\u00a0
purchase
\u00a0
price
\u00a0
allocations
\u00a0
from
\u00a0
acquisitions
\u00a0
nominated
\u00a0
in
\u00a0
foreign
\u00a0
currencies
\u00a0
amounted
to
\u00a0
EUR
\u00a0
785
\u00a0
million
\u00a0
(845).
\u00a0
In
\u00a0
2023,
\u00a0
the
\u00a0
translation
\u00a0
differences
\u00a0
recognised
\u00a0
in
\u00a0
other
\u00a0
comprehensive
\u00a0
income
mainly
\u00a0
come
\u00a0
from
\u00a0
changes
\u00a0
in
\u00a0
the
\u00a0
GBP
\u00a0
exchange
\u00a0
rate.
Approximately
\u00a0
57%
\u00a0
(44)
\u00a0
of
\u00a0
sales
\u00a0
and
\u00a0
52%
\u00a0
(50)
\u00a0
of
\u00a0
operating
\u00a0
costs
\u00a0
were
\u00a0
denominated
\u00a0
in
\u00a0
euros,
\u00a0
and
approximately
\u00a0
28%
\u00a0
(40)
\u00a0
of
\u00a0
sales
\u00a0
and
\u00a0
24%
\u00a0
(24)
\u00a0
of
\u00a0
operating
\u00a0
costs
\u00a0
were
\u00a0
denominated
\u00a0
in
\u00a0
US
\u00a0
dollars.
\u00a0
The
remainder
\u00a0
were
\u00a0
split
\u00a0
between
\u00a0
several
\u00a0
currencies.
\u00a0
The
\u00a0
Group\u2019s
\u00a0
profits
\u00a0
and
\u00a0
competitiveness
\u00a0
are
\u00a0
also
\u00a0
indirectly
affected
\u00a0
by
\u00a0
the
\u00a0
home
\u00a0
currencies
\u00a0
(USD,
\u00a0
GBP,
\u00a0
JPY
\u00a0
and
\u00a0
KRW)
\u00a0
of
\u00a0
its
\u00a0
main
\u00a0
competitors.
As
W\u00e4rtsil\u00e4's operations are global
,
\u00a0
they
\u00a0
often
\u00a0
involve
\u00a0
currency
\u00a0
risks.
\u00a0
The
\u00a0
largest
\u00a0
operative
\u00a0
currency
\u00a0
positions
(excluding
\u00a0
financing)
\u00a0
open
\u00a0
as
\u00a0
of
\u00a0
31
\u00a0
December
\u00a0
2023
\u00a0
by
\u00a0
currency
\u00a0
pair
\u00a0
are
\u00a0
listed
\u00a0
below.
2023
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
-
Statement
\u00a0
of
\u00a0
financial
position
Estimated
\u00a0
cash
\u00a0
flows
MEUR
Base
currency
received
Base
currency
paid
Base
currency
received
Base
currency
paid
Net
EUR/USD
109
159
140
907
817
EUR/NOK
69
42
218
1
244
USD/NOK
14
303
318
EUR/CNY
19
21
85
16
67
EUR/GBP
25
40
61
7
38
USD/MXN
18
9
78
87
EUR/CHF
24
14
54
64
EUR/HKD
9
11
55
1
52
USD/HKD
1
2
71
71
EUR/DKK
7
7
57
1
56
GBP/USD
44
5
18
21
EUR/JPY
11
7
42
3
43
EUR/SGD
17
14
31
33
EUR/AED
27
9
23
1
40
EUR/SEK
22
7
27
42
EUR/AUD
9
9
37
2
34
Base
\u00a0
currency
\u00a0
received:
\u25cf
\u00a0
if
\u00a0
functional
\u00a0
currency
\u00a0
is
\u00a0
EUR,
\u00a0
payable
\u00a0
is
\u00a0
in
\u00a0
USD
\u25cf
\u00a0
if
\u00a0
functional
\u00a0
currency
\u00a0
is
\u00a0
USD,
\u00a0
receivable
\u00a0
is
\u00a0
in
\u00a0
EUR
Base
\u00a0
currency
\u00a0
paid:
\u25cf
\u00a0
if
\u00a0
functional
\u00a0
currency
\u00a0
is
\u00a0
EUR,
\u00a0
receivable
\u00a0
is
\u00a0
in
\u00a0
USD
\u25cf
\u00a0
if
\u00a0
functional
\u00a0
currency
\u00a0
is
\u00a0
USD,
\u00a0
payable
\u00a0
is
\u00a0
in
\u00a0
EUR
As
\u00a0
the
\u00a0
main
\u00a0
funding
\u00a0
currency
\u00a0
for
\u00a0
the
\u00a0
Group,
\u00a0
including
\u00a0
the
\u00a0
Group
\u00a0
Treasury,
\u00a0
is
\u00a0
the
\u00a0
euro
\u00a0
and
\u00a0
since
\u00a0
the
subsidiaries
\u00a0
are
\u00a0
normally
\u00a0
funded
\u00a0
in
\u00a0
their
\u00a0
home
\u00a0
currencies
\u00a0
by
\u00a0
the
\u00a0
Group
\u00a0
Treasury,
\u00a0
the
\u00a0
Group
\u00a0
Treasury
\u00a0
had
\u00a0
the
following
\u00a0
related
\u00a0
open
\u00a0
currency
\u00a0
positions
\u00a0
as
\u00a0
of
\u00a0
31
\u00a0
December
\u00a0
2023.
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
2023
2022
MEUR
Loans
Deposits
Net
Loans
Deposits
Net
Intragroup
\u00a0
loans/deposits
USD
41
354
313
24
239
215
GBP
113
25
88
80
26
54
CHF
90
90
84
84
MXN
3
16
13
1
44
44
AUD
5
5
34
34
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
SGD
8
8
15
15
CNY
10
10
11
11
CAD
17
17
13
13
Other
\u00a0
currencies*
1
1
1
1
External
\u00a0
loans/deposits
JPY
160**
160
142**
142
Total
408
436
703
331
383
612
*
\u00a0
The
\u00a0
other
\u00a0
currencies
\u00a0
do
\u00a0
not
\u00a0
net
\u00a0
as
\u00a0
they
\u00a0
are
\u00a0
of
\u00a0
different
\u00a0
currencies.
**
\u00a0
External
\u00a0
JPY
\u00a0
loans
\u00a0
are
\u00a0
fully
\u00a0
hedged
\u00a0
with
\u00a0
cross
\u00a0
currency
\u00a0
swaps.
Some
\u00a0
Group
\u00a0
companies
\u00a0
in
\u00a0
countries
\u00a0
whose
\u00a0
currencies
\u00a0
are
\u00a0
not
\u00a0
fully
\u00a0
convertible,
\u00a0
such
\u00a0
as
\u00a0
Brazil,
\u00a0
Philippines,
and
\u00a0
South
\u00a0
Korea,
\u00a0
have
\u00a0
unhedged,
\u00a0
intercompany
\u00a0
loans
\u00a0
nominated
\u00a0
either
\u00a0
in
\u00a0
EUR
\u00a0
or
\u00a0
USD,
\u00a0
which
\u00a0
may
\u00a0
result
\u00a0
in
some
\u00a0
foreign
\u00a0
exchange
\u00a0
differences.
\u00a0
The
\u00a0
total
\u00a0
amount
\u00a0
of
\u00a0
these
\u00a0
loans
\u00a0
is
\u00a0
EUR
\u00a0
68
\u00a0
million
\u00a0
(82).
W\u00e4rtsil\u00e4
\u00a0
does
\u00a0
not
\u00a0
hedge
\u00a0
translation
\u00a0
risk.
\u00a0
The
\u00a0
most
\u00a0
significant
\u00a0
currencies
\u00a0
for
\u00a0
W\u00e4rtsil\u00e4
\u00a0
are
\u00a0
presented
\u00a0
in
\u00a0
Note
\u00a0
6.6.
Exchange
\u00a0
rates.
Interest
\u00a0
rate
\u00a0
risk
W\u00e4rtsil\u00e4
\u00a0
is
\u00a0
exposed
\u00a0
to
\u00a0
interest
\u00a0
rate
\u00a0
risk
\u00a0
primarily
\u00a0
through
\u00a0
market
\u00a0
value
\u00a0
changes
\u00a0
to
\u00a0
the
\u00a0
net
\u00a0
debt
\u00a0
portfolio
\u00a0
(price
risk),
\u00a0
as
\u00a0
well
\u00a0
as
\u00a0
through
\u00a0
changes
\u00a0
in
\u00a0
interest
\u00a0
rates
\u00a0
(re-fixing
\u00a0
on
\u00a0
rollovers).
\u00a0
Interest
\u00a0
rate
\u00a0
risk
\u00a0
is
\u00a0
managed
\u00a0
by
constantly
\u00a0
monitoring
\u00a0
the
\u00a0
market
\u00a0
value
\u00a0
of
\u00a0
the
\u00a0
financial
\u00a0
instruments
\u00a0
and
\u00a0
by
\u00a0
using
\u00a0
sensitivity
\u00a0
analysis.
Interest-bearing
\u00a0
loan
\u00a0
capital
\u00a0
at
\u00a0
the
\u00a0
end
\u00a0
of
\u00a0
2023
\u00a0
totalled
\u00a0
EUR
\u00a0
590
\u00a0
million
\u00a0
(683).
\u00a0
The
\u00a0
average
\u00a0
interest
\u00a0
rate
\u00a0
was
3.0%
\u00a0
(1.4)
\u00a0
and
\u00a0
the
\u00a0
average
\u00a0
re-fixing
\u00a0
time
\u00a0
7
\u00a0
months
\u00a0
(12).
W\u00e4rtsil\u00e4
\u00a0
spreads
\u00a0
its
\u00a0
interest
\u00a0
rate
\u00a0
risk
\u00a0
exposure
\u00a0
by
\u00a0
taking
\u00a0
both
\u00a0
fixed
\u00a0
and
\u00a0
floating
\u00a0
rate
\u00a0
loans.
\u00a0
The
\u00a0
share
\u00a0
of
\u00a0
fixed
rate
\u00a0
loans
\u00a0
as
\u00a0
a
\u00a0
proportion
\u00a0
of
\u00a0
the
\u00a0
total
\u00a0
debt
\u00a0
can
\u00a0
vary
\u00a0
between
\u00a0
30
\u00a0
and
\u00a0
70%.
\u00a0
W\u00e4rtsil\u00e4
\u00a0
hedges
\u00a0
its
\u00a0
loan
\u00a0
portfolio
\u00a0
by
using
\u00a0
derivative
\u00a0
instruments,
\u00a0
such
\u00a0
as
\u00a0
interest
\u00a0
rate
\u00a0
swaps,
\u00a0
futures
\u00a0
and
\u00a0
options.
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
MEUR
2023
2022
Fixed
\u00a0
rate
\u00a0
loans
108
213
Floating
\u00a0
rate
\u00a0
loans
483
471
Derivatives
127
204
Share
\u00a0
of
\u00a0
fixed
\u00a0
rate
\u00a0
loans
\u00a0
of
\u00a0
total
\u00a0
loans
\u00a0
(including
\u00a0
derivatives),
\u00a0
%
40
61
At
\u00a0
the
\u00a0
end
\u00a0
of
\u00a0
2023,
\u00a0
a
\u00a0
one
\u00a0
percentage
\u00a0
point
\u00a0
parallel
\u00a0
decrease/increase
\u00a0
of
\u00a0
the
\u00a0
yield
\u00a0
curve
\u00a0
would
\u00a0
have
\u00a0
resulted
\u00a0
in
a
\u00a0
EUR
\u00a0
5
\u00a0
million
\u00a0
(10)
\u00a0
increase/decrease
\u00a0
in
\u00a0
the
\u00a0
value
\u00a0
of
\u00a0
the
\u00a0
net
\u00a0
debt
\u00a0
portfolio,
\u00a0
including
\u00a0
derivatives.
\u00a0
A
\u00a0
one
percentage
\u00a0
point
\u00a0
change
\u00a0
in
\u00a0
the
\u00a0
interest
\u00a0
level
\u00a0
would
\u00a0
cause
\u00a0
a
\u00a0
EUR
\u00a0
4
\u00a0
million
\u00a0
(3)
\u00a0
change
\u00a0
in
\u00a0
the
\u00a0
following
\u00a0
year\u2019s
interest
\u00a0
expenses
\u00a0
from
\u00a0
the
\u00a0
debt
\u00a0
portfolio,
\u00a0
including
\u00a0
derivatives.
\u00a0
In
\u00a0
both
\u00a0
analyses,
\u00a0
the
\u00a0
debt
\u00a0
portfolio
\u00a0
as
\u00a0
of
\u00a0
31
December
\u00a0
2023
\u00a0
is
\u00a0
used.
As
\u00a0
the
\u00a0
main
\u00a0
funding
\u00a0
currency
\u00a0
of
\u00a0
the
\u00a0
Group
\u00a0
is
\u00a0
Euro,
\u00a0
the
\u00a0
IBOR
\u00a0
reform
\u00a0
does
\u00a0
not
\u00a0
have
\u00a0
a
\u00a0
significant
\u00a0
impact
\u00a0
on
\u00a0
the
Group\u2019s
\u00a0
financial
\u00a0
arrangements.
\u00a0
Due
\u00a0
to
\u00a0
the
\u00a0
reform,
\u00a0
the
\u00a0
reference
\u00a0
interest
\u00a0
rate
\u00a0
of
\u00a0
long-term
\u00a0
JPY
\u00a0
loans
\u00a0
and
\u00a0
the
related
\u00a0
cross
\u00a0
currency
\u00a0
swaps
\u00a0
have
\u00a0
been
\u00a0
amended,
\u00a0
and
\u00a0
the
\u00a0
reference
\u00a0
rates
\u00a0
for
\u00a0
the
\u00a0
Group\u2019s
\u00a0
cash
\u00a0
pool
\u00a0
bank
accounts
\u00a0
have
\u00a0
been
\u00a0
changed
\u00a0
in
\u00a0
cases
\u00a0
where
\u00a0
a
\u00a0
rate
\u00a0
would
\u00a0
have
\u00a0
been
\u00a0
discontinued.
Additional
\u00a0
information
\u00a0
related
\u00a0
to
\u00a0
loans
\u00a0
can
\u00a0
be
\u00a0
found
\u00a0
in
\u00a0
Note
\u00a0
5.2.
\u00a0
Financial
\u00a0
assets
\u00a0
and
\u00a0
liabilities
\u00a0
by
measurement
\u00a0
category
\u00a0
and
\u00a0
Note
\u00a0
5.6.
\u00a0
Maturity
\u00a0
analysis
\u00a0
of
\u00a0
financial
\u00a0
liabilities.
\u00a0
Information
\u00a0
on
\u00a0
interest
\u00a0
rate
derivatives
\u00a0
is
\u00a0
presented
\u00a0
in
\u00a0
Note
\u00a0
5.7.
\u00a0
Derivative
\u00a0
financial
\u00a0
instruments.
Liquidity
\u00a0
and
\u00a0
refinancing
\u00a0
risk
W\u00e4rtsil\u00e4
\u00a0
ensures
\u00a0
sufficient
\u00a0
liquidity
\u00a0
at
\u00a0
all
\u00a0
times
\u00a0
by
\u00a0
efficient
\u00a0
cash
\u00a0
management
\u00a0
and
\u00a0
by
\u00a0
maintaining
\u00a0
sufficient
available
\u00a0
committed
\u00a0
and
\u00a0
uncommitted
\u00a0
credit
\u00a0
lines.
\u00a0
Refinancing
\u00a0
risk
\u00a0
is
\u00a0
managed
\u00a0
by
\u00a0
having
\u00a0
a
\u00a0
balanced
\u00a0
and
sufficiently
\u00a0
long
\u00a0
loan
\u00a0
portfolio.
The
\u00a0
existing
\u00a0
loan
\u00a0
facilities
\u00a0
include:
\u2022
\u00a0
Committed
\u00a0
Revolving
\u00a0
Credit
\u00a0
Facilities
\u00a0
totalling
\u00a0
EUR
\u00a0
644
\u00a0
million
\u00a0
(650).
\u2022
\u00a0
Finnish
\u00a0
Commercial
\u00a0
Paper
\u00a0
programmes
\u00a0
totalling
\u00a0
EUR
\u00a0
850
\u00a0
million
\u00a0
(850).
The
\u00a0
average
\u00a0
maturity
\u00a0
of
\u00a0
the
\u00a0
non-current
\u00a0
debt
\u00a0
is
\u00a0
37
\u00a0
months
\u00a0
(28)
\u00a0
and
\u00a0
the
\u00a0
average
\u00a0
maturity
\u00a0
of
\u00a0
the
\u00a0
confirmed
credit
\u00a0
lines
\u00a0
is
\u00a0
31
\u00a0
months
\u00a0
(24).
\u00a0
Additional
\u00a0
information
\u00a0
in
\u00a0
Note
\u00a0
5.6.
\u00a0
Maturity
\u00a0
analysis
\u00a0
of
\u00a0
financial
\u00a0
liabilities.
At
\u00a0
year-end,
\u00a0
the
\u00a0
Group
\u00a0
had
\u00a0
cash
\u00a0
and
\u00a0
cash
\u00a0
equivalents
\u00a0
totalling
\u00a0
EUR
\u00a0
819
\u00a0
million
\u00a0
(461).
\u00a0
The
\u00a0
Group
\u00a0
also
\u00a0
had
EUR
\u00a0
644
\u00a0
million
\u00a0
(650)
\u00a0
of
\u00a0
non-utilised
\u00a0
committed
\u00a0
credit
\u00a0
facilities,
\u00a0
as
\u00a0
well
\u00a0
as
\u00a0
cash
\u00a0
and
\u00a0
cash
\u00a0
equivalents
\u00a0
of
\u00a0
EUR
\u00a0
3
million
\u00a0
related
\u00a0
to
\u00a0
assets
\u00a0
held
\u00a0
for
\u00a0
sale
\u00a0
in
\u00a0
2022.
\u00a0
Commercial
\u00a0
Paper
\u00a0
Programmes
\u00a0
were
\u00a0
not
\u00a0
utilised
\u00a0
on
\u00a0
31
December
\u00a0
2023
\u00a0
nor
\u00a0
on
\u00a0
31
\u00a0
December
\u00a0
2022.
Committed
\u00a0
Revolving
\u00a0
Credit
\u00a0
Facilities,
\u00a0
as
\u00a0
well
\u00a0
as
\u00a0
the
\u00a0
parent
\u00a0
company's
\u00a0
long-term
\u00a0
loans,
\u00a0
include
\u00a0
a
\u00a0
financial
covenant
\u00a0
(solvency
\u00a0
ratio).
\u00a0
The
\u00a0
solvency
\u00a0
ratio
\u00a0
is
\u00a0
expected
\u00a0
to
\u00a0
remain
\u00a0
clearly
\u00a0
over
\u00a0
the
\u00a0
covenant
\u00a0
level
\u00a0
for
\u00a0
the
foreseeable
\u00a0
future.
\u00a0
Revolving
\u00a0
credit
\u00a0
facilities
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
MEUR
2023
2022
Year
Maturing
Available
(end
\u00a0
of
period)
Maturing
Available
(end
\u00a0
of
period)
2022
-
-
650
2023
644
230
420
2024
130
514
130
290
2025
100
414
100
190
2026
104
310
50
140
2027
140
170
140
2028
120
50
2029
50
-
Credit
\u00a0
risk
Responsibility
\u00a0
for
\u00a0
managing
\u00a0
the
\u00a0
credit
\u00a0
risks
\u00a0
associated
\u00a0
with
\u00a0
ordinary
\u00a0
commercial
\u00a0
activities
\u00a0
lies
\u00a0
with
\u00a0
the
Businesses
\u00a0
and
\u00a0
the
\u00a0
Group
\u00a0
companies.
\u00a0
Major
\u00a0
trade
\u00a0
and
\u00a0
project
\u00a0
finance
\u00a0
credit
\u00a0
risks
\u00a0
are
\u00a0
minimised
\u00a0
by
transferring
\u00a0
risks
\u00a0
to
\u00a0
banks,
\u00a0
insurance
\u00a0
companies,
\u00a0
and
\u00a0
export
\u00a0
credit
\u00a0
organisations.
The
\u00a0
credit
\u00a0
risks
\u00a0
related
\u00a0
to
\u00a0
the
\u00a0
placement
\u00a0
of
\u00a0
liquid
\u00a0
funds
\u00a0
and
\u00a0
to
\u00a0
trading
\u00a0
in
\u00a0
financial
\u00a0
instruments
\u00a0
are
\u00a0
minimised
\u00a0
by
setting
\u00a0
explicit
\u00a0
limits
\u00a0
for
\u00a0
the
\u00a0
counterparties,
\u00a0
and
\u00a0
by
\u00a0
making
\u00a0
agreements
\u00a0
only
\u00a0
with
\u00a0
the
\u00a0
most
\u00a0
reputable
\u00a0
domestic
and
\u00a0
international
\u00a0
banks
\u00a0
and
\u00a0
financial
\u00a0
institutions.
\u00a0
As
\u00a0
only
\u00a0
high
\u00a0
credit
\u00a0
quality
\u00a0
(A-
\u00a0
minimum
\u00a0
rating
\u00a0
requirement)
counterparties
\u00a0
are
\u00a0
utilised
\u00a0
for
\u00a0
derivative
\u00a0
financial
\u00a0
instruments,
\u00a0
and
\u00a0
the
\u00a0
transactions
\u00a0
are
\u00a0
made
\u00a0
under
\u00a0
ISDA
Master
\u00a0
Agreements,
\u00a0
no
\u00a0
credit
\u00a0
losses
\u00a0
are
\u00a0
expected
\u00a0
from
\u00a0
these
\u00a0
instruments.
The
\u00a0
Group
\u00a0
companies
\u00a0
deposit
\u00a0
the
\u00a0
maximum
\u00a0
amount
\u00a0
of
\u00a0
their
\u00a0
liquid
\u00a0
financial
\u00a0
assets
\u00a0
with
\u00a0
the
\u00a0
centralised
\u00a0
treasury
when
\u00a0
local
\u00a0
laws
\u00a0
and
\u00a0
central
\u00a0
bank
\u00a0
regulations
\u00a0
allow
\u00a0
it.
\u00a0
The
\u00a0
Group\u2019s
\u00a0
funds
\u00a0
are
\u00a0
placed
\u00a0
in
\u00a0
instruments
\u00a0
with
sufficient
\u00a0
liquidity
\u00a0
(current
\u00a0
bank
\u00a0
deposits
\u00a0
or
\u00a0
Finnish
\u00a0
Commercial
\u00a0
Papers)
\u00a0
and
\u00a0
rating
\u00a0
(at
\u00a0
least
\u00a0
single-A
\u00a0
rated
instruments
\u00a0
or
\u00a0
other
\u00a0
instruments
\u00a0
approved
\u00a0
by
\u00a0
the
\u00a0
Group\u2019s
\u00a0
CFO).
\u00a0
These
\u00a0
placements
\u00a0
are
\u00a0
constantly
\u00a0
monitored
by
\u00a0
the
\u00a0
Group
\u00a0
Treasury,
\u00a0
and
\u00a0
W\u00e4rtsil\u00e4
\u00a0
does
\u00a0
not
\u00a0
expect
\u00a0
any
\u00a0
future
\u00a0
defaults
\u00a0
from
\u00a0
the
\u00a0
placements.
The
\u00a0
expected
\u00a0
credit
\u00a0
losses
\u00a0
associated
\u00a0
with
\u00a0
investments
\u00a0
carried
\u00a0
at
\u00a0
amortised
\u00a0
cost
\u00a0
are
\u00a0
assessed
\u00a0
on
\u00a0
a
\u00a0
forward-
looking
\u00a0
basis
\u00a0
based
\u00a0
on
\u00a0
investment
\u00a0
maturity
\u00a0
dates,
\u00a0
and
\u00a0
counterparty
\u00a0
credit
\u00a0
risk
\u00a0
on
\u00a0
a
\u00a0
quarterly
\u00a0
basis.
\u00a0
As
\u00a0
of
\u00a0
31
December
\u00a0
2023,
\u00a0
the
\u00a0
expected
\u00a0
credit
\u00a0
loss
\u00a0
was
\u00a0
not
\u00a0
material.
The
\u00a0
expected
\u00a0
credit
\u00a0
losses
\u00a0
are
\u00a0
presented
\u00a0
in
\u00a0
Note
\u00a0
4.2.
\u00a0
Trade
\u00a0
receivables
\u00a0
and
\u00a0
contract
\u00a0
assets
\u00a0
and
\u00a0
liabilities.
Equity
\u00a0
price
\u00a0
risk
W\u00e4rtsil\u00e4
\u00a0
has
\u00a0
equity
\u00a0
investments
\u00a0
totalling
\u00a0
EUR
\u00a0
12
\u00a0
million
\u00a0
(12)
\u00a0
in
\u00a0
power
\u00a0
plant
\u00a0
companies,
\u00a0
most
\u00a0
of
\u00a0
which
\u00a0
are
located
\u00a0
in
\u00a0
developing
\u00a0
countries
\u00a0
and
\u00a0
performing
\u00a0
well
\u00a0
according
\u00a0
to
\u00a0
expectations.
\u00a0
Additional
\u00a0
information
\u00a0
is
\u00a0
given
in
\u00a0
Note
\u00a0
5.2.
\u00a0
Financial
\u00a0
assets
\u00a0
and
\u00a0
liabilities
\u00a0
by
\u00a0
measurement
\u00a0
category.
Capital
\u00a0
risk
\u00a0
management
W\u00e4rtsil\u00e4\u2019s
\u00a0
policy
\u00a0
is
\u00a0
to
\u00a0
secure
\u00a0
a
\u00a0
strong
\u00a0
capital
\u00a0
base,
\u00a0
both
\u00a0
to
\u00a0
maintain
\u00a0
the
\u00a0
confidence
\u00a0
of
\u00a0
investors
\u00a0
and
\u00a0
creditors
and
\u00a0
for
\u00a0
the
\u00a0
future
\u00a0
development
\u00a0
of
\u00a0
the
\u00a0
business.
\u00a0
The
\u00a0
capital
\u00a0
is
\u00a0
defined
\u00a0
as
\u00a0
total
\u00a0
equity,
\u00a0
including
\u00a0
non-controlling
interests
\u00a0
and
\u00a0
net
\u00a0
interest-bearing
\u00a0
debt.
\u00a0
The
\u00a0
target
\u00a0
for
\u00a0
W\u00e4rtsil\u00e4
\u00a0
is
\u00a0
to
\u00a0
maintain
\u00a0
gearing
\u00a0
below
\u00a0
0.50
\u00a0
and
\u00a0
to
\u00a0
pay
\u00a0
a
dividend
\u00a0
of
\u00a0
at
\u00a0
least
\u00a0
50%
\u00a0
of
\u00a0
earnings
\u00a0
over
\u00a0
the
\u00a0
cycle.
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
MEUR
2023
2022
Total
\u00a0
interest-bearing
\u00a0
liabilities
858
949
Total
\u00a0
interest-bearing
\u00a0
assets
-823
-468
Total
\u00a0
net
\u00a0
interest-bearing
\u00a0
debt
35
481
Total
\u00a0
equity
2
\u00a0
232
2
\u00a0
148
Gearing
0,02
0,23
In
\u00a0
the
\u00a0
capital
\u00a0
management
\u00a0
W\u00e4rtsil\u00e4
\u00a0
also
\u00a0
follows
\u00a0
the
\u00a0
gearing
\u00a0
development:
Equity
\u00a0
and
\u00a0
liabilities
6
\u00a0
803
6
\u00a0
608
Advances
\u00a0
received
-774
-527
6
\u00a0
030
6
\u00a0
081
Solvency
\u00a0
ratio,
\u00a0
%
37,0
35,3
More
\u00a0
information
\u00a0
on
\u00a0
net
\u00a0
interest-bearing
\u00a0
debt
\u00a0
is
\u00a0
available
\u00a0
in
\u00a0
Note
\u00a0
5.4.
\u00a0
Net
\u00a0
debt
\u00a0
reconciliation.
", "dimensions": { "concept": "ifrs-full:DisclosureOfFinancialRiskManagementExplanatory", "language": "en", "entity": "scheme:743700G7A9J1PHM3X223", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00" } }, "ID_85": { "value": "W\u00e4rtsil\u00e4's operations are global", "dimensions": { "concept": "ifrs-full:PrincipalPlaceOfBusiness", "language": "en", "entity": "scheme:743700G7A9J1PHM3X223", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00" } }, "ID_84": { "value": "
\u00a0
\n
\u00a0
\n
\u00a0
\n
2022
Statement
\u00a0
of
\u00a0
financial
position
Estimated
\u00a0
cash
\u00a0
flows
MEUR
Base
currency
received
Base
currency
paid
Base
currency
received
Base
currency
paid
Net
EUR/USD
117
204
138
294
244
EUR/NOK
59
68
183
2
173
USD/NOK
29
7
163
185
EUR/GBP
27
30
87
9
75
EUR/CNY
25
26
90
5
85
EUR/CHF
19
5
49
63
USD/CNY
4
3
64
64
EUR/AED
11
10
35
1
35
EUR/AUD
5
5
36
4
32
GBP/USD
32
7
1
10
16
", "dimensions": { "concept": "ifrs-full:DisclosureOfFinancialRiskManagementExplanatory", "language": "en", "entity": "scheme:743700G7A9J1PHM3X223", "period": "2022-01-01T00:00:00/2023-01-01T00:00:00" } }, "ID_86": { "value": "
Credit
\u00a0
risk
Responsibility
\u00a0
for
\u00a0
managing
\u00a0
the
\u00a0
credit
\u00a0
risks
\u00a0
associated
\u00a0
with
\u00a0
ordinary
\u00a0
commercial
\u00a0
activities
\u00a0
lies
\u00a0
with
\u00a0
the
Businesses
\u00a0
and
\u00a0
the
\u00a0
Group
\u00a0
companies.
\u00a0
Major
\u00a0
trade
\u00a0
and
\u00a0
project
\u00a0
finance
\u00a0
credit
\u00a0
risks
\u00a0
are
\u00a0
minimised
\u00a0
by
transferring
\u00a0
risks
\u00a0
to
\u00a0
banks,
\u00a0
insurance
\u00a0
companies,
\u00a0
and
\u00a0
export
\u00a0
credit
\u00a0
organisations.
The
\u00a0
credit
\u00a0
risks
\u00a0
related
\u00a0
to
\u00a0
the
\u00a0
placement
\u00a0
of
\u00a0
liquid
\u00a0
funds
\u00a0
and
\u00a0
to
\u00a0
trading
\u00a0
in
\u00a0
financial
\u00a0
instruments
\u00a0
are
\u00a0
minimised
\u00a0
by
setting
\u00a0
explicit
\u00a0
limits
\u00a0
for
\u00a0
the
\u00a0
counterparties,
\u00a0
and
\u00a0
by
\u00a0
making
\u00a0
agreements
\u00a0
only
\u00a0
with
\u00a0
the
\u00a0
most
\u00a0
reputable
\u00a0
domestic
and
\u00a0
international
\u00a0
banks
\u00a0
and
\u00a0
financial
\u00a0
institutions.
\u00a0
As
\u00a0
only
\u00a0
high
\u00a0
credit
\u00a0
quality
\u00a0
(A-
\u00a0
minimum
\u00a0
rating
\u00a0
requirement)
counterparties
\u00a0
are
\u00a0
utilised
\u00a0
for
\u00a0
derivative
\u00a0
financial
\u00a0
instruments,
\u00a0
and
\u00a0
the
\u00a0
transactions
\u00a0
are
\u00a0
made
\u00a0
under
\u00a0
ISDA
Master
\u00a0
Agreements,
\u00a0
no
\u00a0
credit
\u00a0
losses
\u00a0
are
\u00a0
expected
\u00a0
from
\u00a0
these
\u00a0
instruments.
The
\u00a0
Group
\u00a0
companies
\u00a0
deposit
\u00a0
the
\u00a0
maximum
\u00a0
amount
\u00a0
of
\u00a0
their
\u00a0
liquid
\u00a0
financial
\u00a0
assets
\u00a0
with
\u00a0
the
\u00a0
centralised
\u00a0
treasury
when
\u00a0
local
\u00a0
laws
\u00a0
and
\u00a0
central
\u00a0
bank
\u00a0
regulations
\u00a0
allow
\u00a0
it.
\u00a0
The
\u00a0
Group\u2019s
\u00a0
funds
\u00a0
are
\u00a0
placed
\u00a0
in
\u00a0
instruments
\u00a0
with
sufficient
\u00a0
liquidity
\u00a0
(current
\u00a0
bank
\u00a0
deposits
\u00a0
or
\u00a0
Finnish
\u00a0
Commercial
\u00a0
Papers)
\u00a0
and
\u00a0
rating
\u00a0
(at
\u00a0
least
\u00a0
single-A
\u00a0
rated
instruments
\u00a0
or
\u00a0
other
\u00a0
instruments
\u00a0
approved
\u00a0
by
\u00a0
the
\u00a0
Group\u2019s
\u00a0
CFO).
\u00a0
These
\u00a0
placements
\u00a0
are
\u00a0
constantly
\u00a0
monitored
by
\u00a0
the
\u00a0
Group
\u00a0
Treasury,
\u00a0
and
\u00a0
W\u00e4rtsil\u00e4
\u00a0
does
\u00a0
not
\u00a0
expect
\u00a0
any
\u00a0
future
\u00a0
defaults
\u00a0
from
\u00a0
the
\u00a0
placements.
The
\u00a0
expected
\u00a0
credit
\u00a0
losses
\u00a0
associated
\u00a0
with
\u00a0
investments
\u00a0
carried
\u00a0
at
\u00a0
amortised
\u00a0
cost
\u00a0
are
\u00a0
assessed
\u00a0
on
\u00a0
a
\u00a0
forward-
looking
\u00a0
basis
\u00a0
based
\u00a0
on
\u00a0
investment
\u00a0
maturity
\u00a0
dates,
\u00a0
and
\u00a0
counterparty
\u00a0
credit
\u00a0
risk
\u00a0
on
\u00a0
a
\u00a0
quarterly
\u00a0
basis.
\u00a0
As
\u00a0
of
\u00a0
31
December
\u00a0
2023,
\u00a0
the
\u00a0
expected
\u00a0
credit
\u00a0
loss
\u00a0
was
\u00a0
not
\u00a0
material.
The
\u00a0
expected
\u00a0
credit
\u00a0
losses
\u00a0
are
\u00a0
presented
\u00a0
in
\u00a0
Note
\u00a0
4.2.
\u00a0
Trade
\u00a0
receivables
\u00a0
and
\u00a0
contract
\u00a0
assets
\u00a0
and
\u00a0
liabilities.
", "dimensions": { "concept": "ifrs-full:DisclosureOfCreditRiskExplanatory", "language": "en", "entity": "scheme:743700G7A9J1PHM3X223", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00" } }, "ID_87": { "value": "
6.1.
\u00a0
SUBSIDIARIES
Accounting
\u00a0
principles
The
\u00a0
consolidated
\u00a0
financial
\u00a0
statements
\u00a0
include
\u00a0
the
\u00a0
parent
\u00a0
company
\u00a0
W\u00e4rtsil\u00e4
\u00a0
Corporation
\u00a0
and
\u00a0
all
\u00a0
subsidiaries
over
\u00a0
which
\u00a0
the
\u00a0
Group
\u00a0
has
\u00a0
control.
\u00a0
The
\u00a0
Group
\u00a0
controls
\u00a0
an
\u00a0
entity
\u00a0
when
\u00a0
the
\u00a0
Group
\u00a0
is
\u00a0
exposed
\u00a0
to,
\u00a0
or
\u00a0
has
\u00a0
rights
\u00a0
to,
variable
\u00a0
returns
\u00a0
from
\u00a0
its
\u00a0
involvement
\u00a0
with
\u00a0
the
\u00a0
entity
\u00a0
and
\u00a0
has
\u00a0
the
\u00a0
ability
\u00a0
to
\u00a0
affect
\u00a0
those
\u00a0
returns
\u00a0
through
\u00a0
its
\u00a0
power
to
\u00a0
direct
\u00a0
the
\u00a0
activities
\u00a0
of
\u00a0
the
\u00a0
entity.
\u00a0
When
\u00a0
the
\u00a0
Group
\u00a0
has
\u00a0
less
\u00a0
than
\u00a0
a
\u00a0
majority
\u00a0
of
\u00a0
voting
\u00a0
or
\u00a0
similar
\u00a0
rights
\u00a0
in
\u00a0
an
entity,
\u00a0
the
\u00a0
Group
\u00a0
considers
\u00a0
all
\u00a0
relevant
\u00a0
facts
\u00a0
and
\u00a0
circumstances
\u00a0
in
\u00a0
assessing
\u00a0
whether
\u00a0
it
\u00a0
has
\u00a0
power
\u00a0
over
\u00a0
an
entity,
\u00a0
including
\u00a0
the
\u00a0
contractual
\u00a0
arrangements,
\u00a0
voting
\u00a0
rights,
\u00a0
and
\u00a0
potential
\u00a0
voting
\u00a0
rights.
\u00a0
The
\u00a0
Group
\u00a0
reassesses
whether
\u00a0
it
\u00a0
controls
\u00a0
an
\u00a0
entity
\u00a0
if
\u00a0
facts
\u00a0
and
\u00a0
circumstances
\u00a0
indicate
\u00a0
that
\u00a0
there
\u00a0
are
\u00a0
changes
\u00a0
to
\u00a0
the
\u00a0
elements
\u00a0
of
control.
The
\u00a0
financial
\u00a0
information
\u00a0
from
\u00a0
subsidiaries
\u00a0
in
\u00a0
countries
\u00a0
with
\u00a0
hyperinflation
\u00a0
are
\u00a0
adjusted
\u00a0
according
\u00a0
to
\u00a0
IAS
\u00a0
29,
when
\u00a0
the
\u00a0
impact
\u00a0
of
\u00a0
the
\u00a0
hyperinflation
\u00a0
is
\u00a0
considered
\u00a0
significant
\u00a0
for
\u00a0
the
\u00a0
consolidated
\u00a0
financial
\u00a0
statements.
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
Geo-
graph-
ical
\u00a0
area
Company
\u00a0
name
\u00a0
Location
Activities
Share
%
Europe
W\u00e4rtsil\u00e4
\u00a0
Cyprus
\u00a0
Limited
Cyprus
Sales
\u00a0
and
\u00a0
services
100.0
W\u00e4rtsil\u00e4
\u00a0
Danmark
\u00a0
A/S
Denmark
Sales
\u00a0
and
\u00a0
services
100.0
W\u00e4rtsil\u00e4
\u00a0
Lyngs\u00f8
\u00a0
Marine
\u00a0
A/S
Denmark
Sales
\u00a0
and
\u00a0
services
100.0
W\u00e4rtsil\u00e4
\u00a0
BLRT
\u00a0
Estonia
\u00a0
O\u00fc
Estonia
Sales
\u00a0
and
\u00a0
services
51.7
W\u00e4rtsil\u00e4
\u00a0
Energy
\u00a0
Storage
\u00a0
Finland
\u00a0
Oy
Finland
Sales
\u00a0
and
\u00a0
services
100.0
W\u00e4rtsil\u00e4
\u00a0
Finland
\u00a0
Oy
Finland
Production,
\u00a0
sales
\u00a0
and
services
100.0
W\u00e4rtsil\u00e4
\u00a0
Projects
\u00a0
Oy
Finland
Sales
\u00a0
and
\u00a0
services
100.0
W\u00e4rtsil\u00e4
\u00a0
Solutions
\u00a0
Oy
Finland
Sales
\u00a0
and
\u00a0
services
100.0
W\u00e4rtsil\u00e4
\u00a0
Technology
\u00a0
Oy
\u00a0
Ab
Finland
Holding
100.0
W\u00e4rtsil\u00e4
\u00a0
Voyage
\u00a0
Oy
Finland
Sales
\u00a0
and
\u00a0
services
100.0
W\u00e4rtsil\u00e4
\u00a0
France
\u00a0
S.A.S.
France
Sales
\u00a0
and
\u00a0
services
100.0
W\u00e4rtsil\u00e4
\u00a0
Voyage
\u00a0
Mediterranean
\u00a0
SAS
France
Sales
\u00a0
and
\u00a0
services
100.0
W\u00e4rtsil\u00e4
\u00a0
Deutschland
\u00a0
GmbH
Germany
Sales
\u00a0
and
\u00a0
services
100.0
W\u00e4rtsil\u00e4
\u00a0
SAM
\u00a0
Electronics
\u00a0
GmbH
Germany
Sales
\u00a0
and
\u00a0
services
100.0
W\u00e4rtsil\u00e4
\u00a0
Voyage
\u00a0
Germany
\u00a0
GmbH
Germany
Sales
\u00a0
and
\u00a0
services
100.0
W\u00e4rtsil\u00e4
\u00a0
Serck
\u00a0
Como
\u00a0
GmbH
Germany
Sales
\u00a0
and
\u00a0
services
100.0
W\u00e4rtsil\u00e4
\u00a0
Voyage
\u00a0
GmbH
Germany
Sales
\u00a0
and
\u00a0
services
100.0
W\u00e4rtsil\u00e4
\u00a0
Guidance
\u00a0
Marine
\u00a0
Ltd
the
\u00a0
United
\u00a0
Kingdom
Sales
\u00a0
and
\u00a0
services
100.0
W\u00e4rtsil\u00e4
\u00a0
UK
\u00a0
Limited
the
\u00a0
United
\u00a0
Kingdom
Production,
\u00a0
sales
\u00a0
and
services
100.0
W\u00e4rtsil\u00e4
\u00a0
Voyage
\u00a0
UK
\u00a0
Limited
the
\u00a0
United
\u00a0
Kingdom
Sales
\u00a0
and
\u00a0
services
100.0
Ships
\u00a0
Electronic
\u00a0
Services
\u00a0
Ltd
the
\u00a0
United
\u00a0
Kingdom
Sales
\u00a0
and
\u00a0
services
100.0
W\u00e4rtsil\u00e4
\u00a0
Water
\u00a0
Systems
\u00a0
Ltd
the
\u00a0
United
\u00a0
Kingdom
Sales
\u00a0
and
\u00a0
services
100.0
Wartsila
\u00a0
Defence
\u00a0
Solutions
\u00a0
Ltd
the
\u00a0
United
\u00a0
Kingdom
Sales
\u00a0
and
\u00a0
services
100.0
W\u00e4rtsil\u00e4
\u00a0
Greece
\u00a0
S.A.
Greece
Sales
\u00a0
and
\u00a0
services
100.0
W\u00e4rtsil\u00e4
\u00a0
Hungary
\u00a0
Kft.
Hungary
Sales
\u00a0
and
\u00a0
services
100.0
W\u00e4rtsil\u00e4
\u00a0
Voyage
\u00a0
Limited
Ireland
Sales
\u00a0
and
\u00a0
services
100.0
W\u00e4rtsil\u00e4
\u00a0
APSS
\u00a0
S.r.l
Italy
Sales
\u00a0
and
\u00a0
services
100.0
W\u00e4rtsil\u00e4
\u00a0
Italia
\u00a0
S.p.A.
Italy
Production,
\u00a0
sales
\u00a0
and
services
100.0
Trident
\u00a0
Italia
\u00a0
Srl
Italy
Sales
\u00a0
and
\u00a0
services
100.0
W\u00e4rtsil\u00e4
\u00a0
Moss
\u00a0
AS
Norway
Production,
\u00a0
sales
\u00a0
and
services
100.0
W\u00e4rtsil\u00e4
\u00a0
Norway
\u00a0
AS
Norway
Production,
\u00a0
sales
\u00a0
and
services
100.0
W\u00e4rtsil\u00e4
\u00a0
Gas
\u00a0
Solutions
\u00a0
Norway
\u00a0
AS
Norway
Sales
\u00a0
and
\u00a0
services
100.0
W\u00e4rtsil\u00e4
\u00a0
Valmarine
\u00a0
AS
Norway
Sales
\u00a0
and
\u00a0
services
100.0
W\u00e4rtsil\u00e4
\u00a0
Polska
\u00a0
Sp.
\u00a0
z
\u00a0
o.o
Poland
Sales
\u00a0
and
\u00a0
services
100.0
W\u00e4rtsil\u00e4
\u00a0
Portugal,
\u00a0
S.A.
Portugal
Sales
\u00a0
and
\u00a0
services
100.0
Wartsila
\u00a0
Voyage
\u00a0
doo
\u00a0
Beograd
Serbia
Sales
\u00a0
and
\u00a0
services
100.0
W\u00e4rtsil\u00e4
\u00a0
Ib\u00e9rica
\u00a0
S.A.
Spain
Production,
\u00a0
sales
\u00a0
and
services
100.0
Burriel
\u00a0
Navarro,
\u00a0
S.L.
Spain
Sales
\u00a0
and
\u00a0
services
100.0
Trident
\u00a0
Las
\u00a0
Palmas
\u00a0
S.L.
Spain
Sales
\u00a0
and
\u00a0
services
100.0
W\u00e4rtsil\u00e4
\u00a0
Sweden
\u00a0
AB
Sweden
Production,
\u00a0
sales
\u00a0
and
services
100.0
W\u00e4rtsil\u00e4
\u00a0
Voyage
\u00a0
Sweden
\u00a0
AB
Sweden
Sales
\u00a0
and
\u00a0
services
100.0
W\u00e4rtsil\u00e4
\u00a0
Services
\u00a0
Switzerland
\u00a0
AG
Switzerland
Sales
\u00a0
and
\u00a0
services
100.0
Quantiparts
\u00a0
B.V.
The
\u00a0
Netherlands
Sales
\u00a0
and
\u00a0
services
100.0
W\u00e4rtsil\u00e4
\u00a0
Netherlands
\u00a0
B.V.
The
\u00a0
Netherlands
Production,
\u00a0
sales
\u00a0
and
services
100.0
Trident
\u00a0
B.V.
The
\u00a0
Netherlands
Sales
\u00a0
and
\u00a0
services
100.0
The
\u00a0
Americas
W\u00e4rtsil\u00e4
\u00a0
Argentina
\u00a0
S.A.
Argentina
Sales
\u00a0
and
\u00a0
services
100.0
Wartsila
\u00a0
Brasil
\u00a0
Ltda.
Brazil
Production,
\u00a0
sales
\u00a0
and
services
100.0
Altyn
\u00a0
Consulting
\u00a0
Inc.
Canada
Sales
\u00a0
and
\u00a0
services
100.0
W\u00e4rtsil\u00e4
\u00a0
Canada
\u00a0
Inc.
Canada
Sales
\u00a0
and
\u00a0
services
100.0
W\u00e4rtsil\u00e4
\u00a0
Chile
\u00a0
Ltda.
Chile
Sales
\u00a0
and
\u00a0
services
100.0
W\u00e4rtsil\u00e4
\u00a0
Colombia
\u00a0
S.A.
Colombia
Sales
\u00a0
and
\u00a0
services
100.0
W\u00e4rtsil\u00e4
\u00a0
Dominicana,
\u00a0
S.R.L.
Dominican
\u00a0
Republic
Sales
\u00a0
and
\u00a0
services
100.0
W\u00e4rtsil\u00e4
\u00a0
Ecuador
\u00a0
S.A.
Ecuador
Sales
\u00a0
and
\u00a0
services
100.0
W\u00e4rtsil\u00e4
\u00a0
El
\u00a0
Salvador,
\u00a0
S.A.
\u00a0
De
\u00a0
C.V.
Guatemala
Sales
\u00a0
and
\u00a0
services
100.0
W\u00e4rtsil\u00e4
\u00a0
Operations
\u00a0
Guyana
\u00a0
Inc.
Guyana
Sales
\u00a0
and
\u00a0
services
100.0
W\u00e4rtsil\u00e4
\u00a0
de
\u00a0
Mexico
\u00a0
S.A.
\u00a0
de
\u00a0
C.V.
Mexico
Sales
\u00a0
and
\u00a0
services
100.0
W\u00e4rtsil\u00e4
\u00a0
Panama
\u00a0
Services,
\u00a0
S.A.
Panama
Sales
\u00a0
and
\u00a0
services
100.0
W\u00e4rtsil\u00e4
\u00a0
Peru
\u00a0
S.A.
Peru
Sales
\u00a0
and
\u00a0
services
100.0
W\u00e4rtsil\u00e4
\u00a0
Caribbean,
\u00a0
Inc.
Puerto
\u00a0
Rico
Sales
\u00a0
and
\u00a0
services
100.0
W\u00e4rtsil\u00e4
\u00a0
Uruguay
\u00a0
S.A.
Uruguay
Sales
\u00a0
and
\u00a0
services
100.0
Guidance
\u00a0
Marine
\u00a0
LLC
USA
Sales
\u00a0
and
\u00a0
services
100.0
Defense
\u00a0
Maritime
\u00a0
Solutions,
\u00a0
Inc.
USA
Sales
\u00a0
and
\u00a0
services
100.0
Wartsila
\u00a0
Energy
\u00a0
Storage,
\u00a0
Inc.
USA
Sales
\u00a0
and
\u00a0
services
100.0
W\u00e4rtsil\u00e4
\u00a0
North
\u00a0
America,
\u00a0
Inc.
USA
Sales
\u00a0
and
\u00a0
services
100.0
LOCK-N-STITCH
\u00a0
Inc.
USA
Sales
\u00a0
and
\u00a0
services
100.0
Wartsila
\u00a0
Voyage
\u00a0
Americas
\u00a0
Inc
USA
Sales
\u00a0
and
\u00a0
services
100.0
Asia
PT.
\u00a0
W\u00e4rtsil\u00e4
\u00a0
Indonesia
Indonesia
Sales
\u00a0
and
\u00a0
services
100.0
W\u00e4rtsil\u00e4
\u00a0
Azerbaijan
\u00a0
LLC
Azerbaijan
Sales
\u00a0
and
\u00a0
services
100.0
W\u00e4rtsil\u00e4
\u00a0
Bangladesh
\u00a0
Limited
Bangladesh
Sales
\u00a0
and
\u00a0
services
100.0
W\u00e4rtsil\u00e4
\u00a0
Management
\u00a0
(Shanghai)
\u00a0
Co.,
\u00a0
Ltd.
China
Sales
\u00a0
and
\u00a0
services
100.0
W\u00e4rtsil\u00e4
\u00a0
Propulsion
\u00a0
(Wuxi)
\u00a0
Company
\u00a0
Limited
China
Production,
\u00a0
sales
\u00a0
and
services
100.0
W\u00e4rtsil\u00e4
\u00a0
Services
\u00a0
(Shanghai)
\u00a0
Co.
\u00a0
Ltd.
China
Sales
\u00a0
and
\u00a0
services
100.0
W\u00e4rtsil\u00e4
\u00a0
Suzhou
\u00a0
Limited
China
Production,
\u00a0
sales
\u00a0
and
services
100.0
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
W\u00e4rtsil\u00e4
\u00a0
Voyage
\u00a0
Shanghai
\u00a0
Co.,
\u00a0
Ltd.
China
Sales
\u00a0
and
\u00a0
services
100.0
W\u00e4rtsil\u00e4
\u00a0
China
\u00a0
Ltd.
Hong
\u00a0
Kong
Sales
\u00a0
and
\u00a0
services
100.0
W\u00e4rtsil\u00e4
\u00a0
India
\u00a0
Private
\u00a0
Limited
India
Production,
\u00a0
sales
\u00a0
and
services
100.0
W\u00e4rtsil\u00e4
\u00a0
Japan
\u00a0
Ltd.
Japan
Production,
\u00a0
sales
\u00a0
and
services
100.0
W\u00e4rtsil\u00e4
\u00a0
Malaysia
\u00a0
Sdn.
\u00a0
Bhd.
Malaysia
Sales
\u00a0
and
\u00a0
services
100.0
W\u00e4rtsil\u00e4
\u00a0
Myanmar
\u00a0
Company
\u00a0
Ltd.
Myanmar
Sales
\u00a0
and
\u00a0
services
100,0
W\u00e4rtsil\u00e4
\u00a0
Pakistan
\u00a0
(Private)
\u00a0
Limited
Pakistan
Sales
\u00a0
and
\u00a0
services
100.0
W\u00e4rtsil\u00e4
\u00a0
Philippines
\u00a0
Inc.
Philippines
Sales
\u00a0
and
\u00a0
services
100.0
W\u00e4rtsil\u00e4
\u00a0
Doha
\u00a0
L.L.C.
Qatar
Sales
\u00a0
and
\u00a0
services
49.0*
W\u00e4rtsil\u00e4
\u00a0
Power
\u00a0
Contracting
\u00a0
Company
\u00a0
Ltd.
Saudi
\u00a0
Arabia
Sales
\u00a0
and
\u00a0
services
60.0
W\u00e4rtsil\u00e4
\u00a0
Singapore
\u00a0
Pte
\u00a0
Ltd
Singapore
Sales
\u00a0
and
\u00a0
services
100.0
W\u00e4rtsil\u00e4
\u00a0
Voyage
\u00a0
Pacific
\u00a0
Pte
\u00a0
Ltd
Singapore
Sales
\u00a0
and
\u00a0
services
100.0
W\u00e4rtsil\u00e4
\u00a0
Korea
\u00a0
Ltd.
South
\u00a0
Korea
Sales
\u00a0
and
\u00a0
services
100.0
W\u00e4rtsil\u00e4
\u00a0
Lanka
\u00a0
(Pvt)
\u00a0
Limited
Sri
\u00a0
Lanka
Sales
\u00a0
and
\u00a0
services
100.0
W\u00e4rtsil\u00e4
\u00a0
Taiwan
\u00a0
Ltd.
Taiwan
Sales
\u00a0
and
\u00a0
services
100.0
W\u00e4rtsil\u00e4
\u00a0
-
\u00a0
ENPA
\u00a0
A.S.
Turkey
Sales
\u00a0
and
\u00a0
services
51,0
W\u00e4rtsil\u00e4
\u00a0
Gulf
\u00a0
FZE
United
\u00a0
Arab
Emirates
Sales
\u00a0
and
\u00a0
services
100.0
W\u00e4rtsil\u00e4
\u00a0
Hamworthy
\u00a0
Middle
\u00a0
East
\u00a0
(FZE)
United
\u00a0
Arab
Emirates
Sales
\u00a0
and
\u00a0
services
100.0
Wartsila
\u00a0
LLC
United
\u00a0
Arab
Emirates
Sales
\u00a0
and
\u00a0
services
100.0
Wartsila
\u00a0
Ships
\u00a0
Repairing
\u00a0
&
\u00a0
Maintenance
\u00a0
LLC
United
\u00a0
Arab
Emirates
Sales
\u00a0
and
\u00a0
services
100.0
Wartsila
\u00a0
Voyage
\u00a0
Middle
\u00a0
East
\u00a0
DMCEST
\u00a0
United
\u00a0
Arab
Emirates
Sales
\u00a0
and
\u00a0
services
100.0
Wartsila
\u00a0
Samarkand
\u00a0
Energy
\u00a0
LLC
\u00a0
Uzbekistan
Sales
\u00a0
and
\u00a0
services
100.0
W\u00e4rtsil\u00e4
\u00a0
Vietnam
\u00a0
Company
\u00a0
Limited
Vietnam
Sales
\u00a0
and
\u00a0
services
100,0
Other
W\u00e4rtsil\u00e4
\u00a0
Australia
\u00a0
Pty
\u00a0
Ltd.
Australia
Sales
\u00a0
and
\u00a0
services
100.0
W\u00e4rtsil\u00e4
\u00a0
Burkina
\u00a0
Faso
Burkina
\u00a0
Faso
Sales
\u00a0
and
\u00a0
services
100.0
W\u00e4rtsil\u00e4
\u00a0
Central
\u00a0
Africa
\u00a0
Plc
Cameroon
Sales
\u00a0
and
\u00a0
services
100.0
Wartsila
\u00a0
Installations
\u00a0
and
\u00a0
Constructions
Egypt
Sales
\u00a0
and
\u00a0
services
100.0
W\u00e4rtsil\u00e4
\u00a0
Central
\u00a0
Africa
\u00a0
Gabon
Gabon
Sales
\u00a0
and
\u00a0
services
100.0
W\u00e4rtsil\u00e4
\u00a0
West
\u00a0
Africa
\u00a0
Guinea
\u00a0
S.A.
Guinea
Sales
\u00a0
and
\u00a0
services
100.0
W\u00e4rtsil\u00e4
\u00a0
Eastern
\u00a0
Africa
\u00a0
Limited
Kenya
Sales
\u00a0
and
\u00a0
services
100.0
W\u00e4rtsil\u00e4
\u00a0
Energy
\u00a0
Mauritanie
\u00a0
SAU
Mauritania
Sales
\u00a0
and
\u00a0
services
100.0
W\u00e4rtsil\u00e4
\u00a0
Mauritanie
\u00a0
SA
Mauritania
Sales
\u00a0
and
\u00a0
services
100.0
W\u00e4rtsil\u00e4
\u00a0
Mocambique
\u00a0
Limitada
Mozambique
Sales
\u00a0
and
\u00a0
services
100.0
W\u00e4rtsil\u00e4
\u00a0
Muscat
\u00a0
S.P.C
Oman
Sales
\u00a0
and
\u00a0
services
100.0
W\u00e4rtsil\u00e4
\u00a0
New
\u00a0
Zealand
\u00a0
Ltd
New
\u00a0
Zealand
Sales
\u00a0
and
\u00a0
services
100.0
W\u00e4rtsil\u00e4
\u00a0
Marine
\u00a0
&
\u00a0
Power
\u00a0
Services
\u00a0
Nigeria
\u00a0
Limited
Nigeria
Sales
\u00a0
and
\u00a0
services
100.0
W\u00e4rtsil\u00e4
\u00a0
PNG
\u00a0
Limited
Papua
\u00a0
New
\u00a0
Guinea
Sales
\u00a0
and
\u00a0
services
100.0
W\u00e4rtsil\u00e4
\u00a0
West
\u00a0
Africa
\u00a0
S.A.
Senegal
Sales
\u00a0
and
\u00a0
services
100.0
W\u00e4rtsil\u00e4
\u00a0
Southern
\u00a0
Africa
\u00a0
(Pty)
\u00a0
Ltd
South
\u00a0
Africa
Sales
\u00a0
and
\u00a0
services
100.0
W\u00e4rtsil\u00e4
\u00a0
South
\u00a0
Africa
\u00a0
Pty
\u00a0
Ltd
South
\u00a0
Africa
Sales
\u00a0
and
\u00a0
services
75.0*
W\u00e4rtsil\u00e4
\u00a0
Tanzania
\u00a0
Limited
Tanzania
Sales
\u00a0
and
\u00a0
services
100.0
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
*
\u00a0
Despite
\u00a0
share
\u00a0
percentage
\u00a0
being
\u00a0
less
\u00a0
than
\u00a0
100,
\u00a0
the
\u00a0
subsidiary
\u00a0
is
\u00a0
considered
\u00a0
to
\u00a0
be
\u00a0
fully
\u00a0
controlled
\u00a0
by
\u00a0
the
Group.
Non-controlling
\u00a0
interests
\u00a0
are
\u00a0
not
\u00a0
significant
\u00a0
in
\u00a0
the
\u00a0
Group's
\u00a0
activities
\u00a0
and
\u00a0
cash
\u00a0
flows
\u00a0
in
\u00a0
individual
\u00a0
subsidiaries.
The
\u00a0
list
\u00a0
excludes
\u00a0
subsidiaries,
\u00a0
which
\u00a0
do
\u00a0
not
\u00a0
have
\u00a0
a
\u00a0
significant
\u00a0
impact
\u00a0
on
\u00a0
the
\u00a0
result
\u00a0
or
\u00a0
assets
\u00a0
of
\u00a0
the
\u00a0
Group.
\u00a0
A
complete
\u00a0
list
\u00a0
of
\u00a0
shares
\u00a0
and
\u00a0
securities
\u00a0
in
\u00a0
accordance
\u00a0
with
\u00a0
the
\u00a0
Finnish
\u00a0
Accounting
\u00a0
Ordinance
\u00a0
is
\u00a0
included
\u00a0
in
\u00a0
the
official
\u00a0
financial
\u00a0
statements
\u00a0
of
\u00a0
the
\u00a0
parent
\u00a0
company
\u00a0
prepared
\u00a0
in
\u00a0
accordance
\u00a0
with
\u00a0
the
\u00a0
Finnish
\u00a0
Accounting
Standards
\u00a0
(FAS).
", "dimensions": { "concept": "ifrs-full:DisclosureOfSignificantInvestmentsInSubsidiariesExplanatory", "language": "en", "entity": "scheme:743700G7A9J1PHM3X223", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00" } }, "ID_88": { "value": "
Accounting
\u00a0
principles
The
\u00a0
consolidated
\u00a0
financial
\u00a0
statements
\u00a0
include
\u00a0
the
\u00a0
parent
\u00a0
company
\u00a0
W\u00e4rtsil\u00e4
\u00a0
Corporation
\u00a0
and
\u00a0
all
\u00a0
subsidiaries
over
\u00a0
which
\u00a0
the
\u00a0
Group
\u00a0
has
\u00a0
control.
\u00a0
The
\u00a0
Group
\u00a0
controls
\u00a0
an
\u00a0
entity
\u00a0
when
\u00a0
the
\u00a0
Group
\u00a0
is
\u00a0
exposed
\u00a0
to,
\u00a0
or
\u00a0
has
\u00a0
rights
\u00a0
to,
variable
\u00a0
returns
\u00a0
from
\u00a0
its
\u00a0
involvement
\u00a0
with
\u00a0
the
\u00a0
entity
\u00a0
and
\u00a0
has
\u00a0
the
\u00a0
ability
\u00a0
to
\u00a0
affect
\u00a0
those
\u00a0
returns
\u00a0
through
\u00a0
its
\u00a0
power
to
\u00a0
direct
\u00a0
the
\u00a0
activities
\u00a0
of
\u00a0
the
\u00a0
entity.
\u00a0
When
\u00a0
the
\u00a0
Group
\u00a0
has
\u00a0
less
\u00a0
than
\u00a0
a
\u00a0
majority
\u00a0
of
\u00a0
voting
\u00a0
or
\u00a0
similar
\u00a0
rights
\u00a0
in
\u00a0
an
entity,
\u00a0
the
\u00a0
Group
\u00a0
considers
\u00a0
all
\u00a0
relevant
\u00a0
facts
\u00a0
and
\u00a0
circumstances
\u00a0
in
\u00a0
assessing
\u00a0
whether
\u00a0
it
\u00a0
has
\u00a0
power
\u00a0
over
\u00a0
an
entity,
\u00a0
including
\u00a0
the
\u00a0
contractual
\u00a0
arrangements,
\u00a0
voting
\u00a0
rights,
\u00a0
and
\u00a0
potential
\u00a0
voting
\u00a0
rights.
\u00a0
The
\u00a0
Group
\u00a0
reassesses
whether
\u00a0
it
\u00a0
controls
\u00a0
an
\u00a0
entity
\u00a0
if
\u00a0
facts
\u00a0
and
\u00a0
circumstances
\u00a0
indicate
\u00a0
that
\u00a0
there
\u00a0
are
\u00a0
changes
\u00a0
to
\u00a0
the
\u00a0
elements
\u00a0
of
control.
The
\u00a0
financial
\u00a0
information
\u00a0
from
\u00a0
subsidiaries
\u00a0
in
\u00a0
countries
\u00a0
with
\u00a0
hyperinflation
\u00a0
are
\u00a0
adjusted
\u00a0
according
\u00a0
to
\u00a0
IAS
\u00a0
29,
when
\u00a0
the
\u00a0
impact
\u00a0
of
\u00a0
the
\u00a0
hyperinflation
\u00a0
is
\u00a0
considered
\u00a0
significant
\u00a0
for
\u00a0
the
\u00a0
consolidated
\u00a0
financial
\u00a0
statements.
", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForSubsidiariesExplanatory", "language": "en", "entity": "scheme:743700G7A9J1PHM3X223", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00" } }, "ID_89": { "value": "
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
6.2.
\u00a0
ACQUISITIONS
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
Accounting
\u00a0
principles
Acquired
\u00a0
and
\u00a0
established
\u00a0
companies
\u00a0
are
\u00a0
accounted
\u00a0
for
\u00a0
using
\u00a0
the
\u00a0
acquisition
\u00a0
method.
\u00a0
Accordingly,
\u00a0
the
purchase
\u00a0
price
\u00a0
and
\u00a0
the
\u00a0
acquired
\u00a0
company\u2019s
\u00a0
identifiable
\u00a0
assets,
\u00a0
liabilities,
\u00a0
and
\u00a0
contingent
\u00a0
liabilities
\u00a0
are
measured
\u00a0
at
\u00a0
fair
\u00a0
value
\u00a0
on
\u00a0
the
\u00a0
date
\u00a0
of
\u00a0
acquisition.
\u00a0
In
\u00a0
the
\u00a0
acquisition
\u00a0
of
\u00a0
additional
\u00a0
interest,
\u00a0
where
\u00a0
the
\u00a0
Group
already
\u00a0
has
\u00a0
control,
\u00a0
the
\u00a0
non-controlling
\u00a0
interest
\u00a0
is
\u00a0
measured
\u00a0
either
\u00a0
at
\u00a0
fair
\u00a0
value
\u00a0
or
\u00a0
at
\u00a0
the
\u00a0
non-controlling
interests\u2019
\u00a0
proportionate
\u00a0
share
\u00a0
of
\u00a0
the
\u00a0
identifiable
\u00a0
net
\u00a0
assets.
\u00a0
The
\u00a0
difference
\u00a0
between
\u00a0
the
\u00a0
purchase
\u00a0
price,
possible
\u00a0
equity
\u00a0
belonging
\u00a0
to
\u00a0
the
\u00a0
non-controlling
\u00a0
interests,
\u00a0
and
\u00a0
the
\u00a0
acquired
\u00a0
company\u2019s
\u00a0
net
\u00a0
identifiable
assets,
\u00a0
liabilities
\u00a0
and
\u00a0
contingent
\u00a0
liabilities
\u00a0
measured
\u00a0
at
\u00a0
fair
\u00a0
value,
\u00a0
is
\u00a0
goodwill.
\u00a0
Goodwill
\u00a0
is
\u00a0
tested
\u00a0
for
impairment
\u00a0
at
\u00a0
least
\u00a0
annually.
\u00a0
The
\u00a0
purchase
\u00a0
price
\u00a0
includes
\u00a0
the
\u00a0
consideration
\u00a0
paid,
\u00a0
measured
\u00a0
at
\u00a0
fair
\u00a0
value.
The
\u00a0
consideration
\u00a0
does
\u00a0
not
\u00a0
include
\u00a0
transaction
\u00a0
costs,
\u00a0
which
\u00a0
are
\u00a0
recognised
\u00a0
in
\u00a0
the
\u00a0
statement
\u00a0
of
\u00a0
income.
\u00a0
The
transaction
\u00a0
costs
\u00a0
are
\u00a0
expensed
\u00a0
in
\u00a0
the
\u00a0
same
\u00a0
reporting
\u00a0
period
\u00a0
in
\u00a0
which
\u00a0
they
\u00a0
occur,
\u00a0
except
\u00a0
those
\u00a0
costs
resulting
\u00a0
from
\u00a0
issued
\u00a0
debt
\u00a0
or
\u00a0
equity
\u00a0
instruments.
In
\u00a0
significant
\u00a0
business
\u00a0
combinations,
\u00a0
the
\u00a0
Group
\u00a0
has
\u00a0
used
\u00a0
external
\u00a0
advisors
\u00a0
when
\u00a0
estimating
\u00a0
the
\u00a0
fair
\u00a0
values
of
\u00a0
property,
\u00a0
plant
\u00a0
and
\u00a0
equipment
\u00a0
and
\u00a0
intangible
\u00a0
assets.
\u00a0
For
\u00a0
property,
\u00a0
plant
\u00a0
and
\u00a0
equipment,
\u00a0
comparisons
have
\u00a0
been
\u00a0
made
\u00a0
of
\u00a0
the
\u00a0
market
\u00a0
prices
\u00a0
of
\u00a0
similar
\u00a0
assets,
\u00a0
and
\u00a0
the
\u00a0
depreciation
\u00a0
of
\u00a0
the
\u00a0
acquired
\u00a0
assets
\u00a0
due
\u00a0
to
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
ageing,
\u00a0
wear,
\u00a0
and
\u00a0
other
\u00a0
similar
\u00a0
factors
\u00a0
has
\u00a0
been
\u00a0
estimated.
\u00a0
The
\u00a0
fair
\u00a0
value
\u00a0
measurement
\u00a0
of
\u00a0
intangible
assets
\u00a0
is
\u00a0
based
\u00a0
on
\u00a0
estimates
\u00a0
of
\u00a0
the
\u00a0
future
\u00a0
cash
\u00a0
flows
\u00a0
associated
\u00a0
with
\u00a0
the
\u00a0
assets.
\u00a0
The
\u00a0
acquired
\u00a0
identifiable
intangible
\u00a0
assets
\u00a0
typically
\u00a0
include
\u00a0
technology,
\u00a0
customer
\u00a0
relationships,
\u00a0
and
\u00a0
trademarks.
Any
\u00a0
contingent
\u00a0
consideration
\u00a0
(additional
\u00a0
purchase
\u00a0
price)
\u00a0
related
\u00a0
to
\u00a0
the
\u00a0
combination
\u00a0
of
\u00a0
businesses
\u00a0
is
measured
\u00a0
at
\u00a0
fair
\u00a0
value
\u00a0
on
\u00a0
the
\u00a0
date
\u00a0
of
\u00a0
acquisition.
\u00a0
It
\u00a0
is
\u00a0
classified
\u00a0
either
\u00a0
as
\u00a0
a
\u00a0
liability
\u00a0
or
\u00a0
equity.
\u00a0
Contingent
consideration
\u00a0
classified
\u00a0
as
\u00a0
a
\u00a0
liability
\u00a0
is
\u00a0
measured
\u00a0
at
\u00a0
fair
\u00a0
value
\u00a0
on
\u00a0
the
\u00a0
last
\u00a0
day
\u00a0
of
\u00a0
each
\u00a0
reporting
\u00a0
period,
\u00a0
and
the
\u00a0
resulting
\u00a0
loss
\u00a0
or
\u00a0
gain
\u00a0
is
\u00a0
recognised
\u00a0
through
\u00a0
the
\u00a0
statement
\u00a0
of
\u00a0
income.
\u00a0
Contingent
\u00a0
consideration
\u00a0
classified
as
\u00a0
equity
\u00a0
is
\u00a0
not
\u00a0
re-measured.
The
\u00a0
acquired
\u00a0
subsidiaries
\u00a0
are
\u00a0
included
\u00a0
in
\u00a0
the
\u00a0
consolidated
\u00a0
financial
\u00a0
statements
\u00a0
from
\u00a0
the
\u00a0
day
\u00a0
the
\u00a0
Group
\u00a0
has
control.
Accounting
\u00a0
estimates
\u00a0
and
\u00a0
judgements
Accounting
\u00a0
for
\u00a0
the
\u00a0
business
\u00a0
combinations
\u00a0
may
\u00a0
require
\u00a0
estimates
\u00a0
of
\u00a0
the
\u00a0
fair
\u00a0
value
\u00a0
of
\u00a0
acquired
\u00a0
assets
\u00a0
and
the
\u00a0
expected
\u00a0
amount
\u00a0
of
\u00a0
realised
\u00a0
contingent
\u00a0
consideration.
2023
In
\u00a0
2023,
\u00a0
there
\u00a0
were
\u00a0
no
\u00a0
acquisitions.
", "dimensions": { "concept": "ifrs-full:DisclosureOfBusinessCombinationsExplanatory", "language": "en", "entity": "scheme:743700G7A9J1PHM3X223", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00" } }, "ID_91": { "value": "
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
Accounting
\u00a0
principles
Acquired
\u00a0
and
\u00a0
established
\u00a0
companies
\u00a0
are
\u00a0
accounted
\u00a0
for
\u00a0
using
\u00a0
the
\u00a0
acquisition
\u00a0
method.
\u00a0
Accordingly,
\u00a0
the
purchase
\u00a0
price
\u00a0
and
\u00a0
the
\u00a0
acquired
\u00a0
company\u2019s
\u00a0
identifiable
\u00a0
assets,
\u00a0
liabilities,
\u00a0
and
\u00a0
contingent
\u00a0
liabilities
\u00a0
are
measured
\u00a0
at
\u00a0
fair
\u00a0
value
\u00a0
on
\u00a0
the
\u00a0
date
\u00a0
of
\u00a0
acquisition.
\u00a0
In
\u00a0
the
\u00a0
acquisition
\u00a0
of
\u00a0
additional
\u00a0
interest,
\u00a0
where
\u00a0
the
\u00a0
Group
already
\u00a0
has
\u00a0
control,
\u00a0
the
\u00a0
non-controlling
\u00a0
interest
\u00a0
is
\u00a0
measured
\u00a0
either
\u00a0
at
\u00a0
fair
\u00a0
value
\u00a0
or
\u00a0
at
\u00a0
the
\u00a0
non-controlling
interests\u2019
\u00a0
proportionate
\u00a0
share
\u00a0
of
\u00a0
the
\u00a0
identifiable
\u00a0
net
\u00a0
assets.
\u00a0
The
\u00a0
difference
\u00a0
between
\u00a0
the
\u00a0
purchase
\u00a0
price,
possible
\u00a0
equity
\u00a0
belonging
\u00a0
to
\u00a0
the
\u00a0
non-controlling
\u00a0
interests,
\u00a0
and
\u00a0
the
\u00a0
acquired
\u00a0
company\u2019s
\u00a0
net
\u00a0
identifiable
assets,
\u00a0
liabilities
\u00a0
and
\u00a0
contingent
\u00a0
liabilities
\u00a0
measured
\u00a0
at
\u00a0
fair
\u00a0
value,
\u00a0
is
\u00a0
goodwill.
\u00a0
Goodwill
\u00a0
is
\u00a0
tested
\u00a0
for
impairment
\u00a0
at
\u00a0
least
\u00a0
annually.
\u00a0
The
\u00a0
purchase
\u00a0
price
\u00a0
includes
\u00a0
the
\u00a0
consideration
\u00a0
paid,
\u00a0
measured
\u00a0
at
\u00a0
fair
\u00a0
value.
The
\u00a0
consideration
\u00a0
does
\u00a0
not
\u00a0
include
\u00a0
transaction
\u00a0
costs,
\u00a0
which
\u00a0
are
\u00a0
recognised
\u00a0
in
\u00a0
the
\u00a0
statement
\u00a0
of
\u00a0
income.
\u00a0
The
transaction
\u00a0
costs
\u00a0
are
\u00a0
expensed
\u00a0
in
\u00a0
the
\u00a0
same
\u00a0
reporting
\u00a0
period
\u00a0
in
\u00a0
which
\u00a0
they
\u00a0
occur,
\u00a0
except
\u00a0
those
\u00a0
costs
resulting
\u00a0
from
\u00a0
issued
\u00a0
debt
\u00a0
or
\u00a0
equity
\u00a0
instruments.
In
\u00a0
significant
\u00a0
business
\u00a0
combinations,
\u00a0
the
\u00a0
Group
\u00a0
has
\u00a0
used
\u00a0
external
\u00a0
advisors
\u00a0
when
\u00a0
estimating
\u00a0
the
\u00a0
fair
\u00a0
values
of
\u00a0
property,
\u00a0
plant
\u00a0
and
\u00a0
equipment
\u00a0
and
\u00a0
intangible
\u00a0
assets.
\u00a0
For
\u00a0
property,
\u00a0
plant
\u00a0
and
\u00a0
equipment,
\u00a0
comparisons
have
\u00a0
been
\u00a0
made
\u00a0
of
\u00a0
the
\u00a0
market
\u00a0
prices
\u00a0
of
\u00a0
similar
\u00a0
assets,
\u00a0
and
\u00a0
the
\u00a0
depreciation
\u00a0
of
\u00a0
the
\u00a0
acquired
\u00a0
assets
\u00a0
due
\u00a0
to
ageing,
\u00a0
wear,
\u00a0
and
\u00a0
other
\u00a0
similar
\u00a0
factors
\u00a0
has
\u00a0
been
\u00a0
estimated.
\u00a0
The
\u00a0
fair
\u00a0
value
\u00a0
measurement
\u00a0
of
\u00a0
intangible
assets
\u00a0
is
\u00a0
based
\u00a0
on
\u00a0
estimates
\u00a0
of
\u00a0
the
\u00a0
future
\u00a0
cash
\u00a0
flows
\u00a0
associated
\u00a0
with
\u00a0
the
\u00a0
assets.
\u00a0
The
\u00a0
acquired
\u00a0
identifiable
intangible
\u00a0
assets
\u00a0
typically
\u00a0
include
\u00a0
technology,
\u00a0
customer
\u00a0
relationships,
\u00a0
and
\u00a0
trademarks.
Any
\u00a0
contingent
\u00a0
consideration
\u00a0
(additional
\u00a0
purchase
\u00a0
price)
\u00a0
related
\u00a0
to
\u00a0
the
\u00a0
combination
\u00a0
of
\u00a0
businesses
\u00a0
is
measured
\u00a0
at
\u00a0
fair
\u00a0
value
\u00a0
on
\u00a0
the
\u00a0
date
\u00a0
of
\u00a0
acquisition.
\u00a0
It
\u00a0
is
\u00a0
classified
\u00a0
either
\u00a0
as
\u00a0
a
\u00a0
liability
\u00a0
or
\u00a0
equity.
\u00a0
Contingent
consideration
\u00a0
classified
\u00a0
as
\u00a0
a
\u00a0
liability
\u00a0
is
\u00a0
measured
\u00a0
at
\u00a0
fair
\u00a0
value
\u00a0
on
\u00a0
the
\u00a0
last
\u00a0
day
\u00a0
of
\u00a0
each
\u00a0
reporting
\u00a0
period,
\u00a0
and
the
\u00a0
resulting
\u00a0
loss
\u00a0
or
\u00a0
gain
\u00a0
is
\u00a0
recognised
\u00a0
through
\u00a0
the
\u00a0
statement
\u00a0
of
\u00a0
income.
\u00a0
Contingent
\u00a0
consideration
\u00a0
classified
as
\u00a0
equity
\u00a0
is
\u00a0
not
\u00a0
re-measured.
The
\u00a0
acquired
\u00a0
subsidiaries
\u00a0
are
\u00a0
included
\u00a0
in
\u00a0
the
\u00a0
consolidated
\u00a0
financial
\u00a0
statements
\u00a0
from
\u00a0
the
\u00a0
day
\u00a0
the
\u00a0
Group
\u00a0
has
control.
", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForBusinessCombinationsExplanatory", "language": "en", "entity": "scheme:743700G7A9J1PHM3X223", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00" } }, "ID_90": { "value": "
2022
In
\u00a0
June,
\u00a0
W\u00e4rtsil\u00e4
\u00a0
acquired
\u00a0
100%
\u00a0
of
\u00a0
Altyn
\u00a0
Consulting
\u00a0
Inc.
\u00a0
(PortLink),
\u00a0
a
\u00a0
global
\u00a0
port
\u00a0
solutions
\u00a0
company
headquartered
\u00a0
in
\u00a0
Vancouver,
\u00a0
Canada.
\u00a0
The
\u00a0
purchase
\u00a0
price
\u00a0
was
\u00a0
approximately
\u00a0
EUR
\u00a0
8
\u00a0
million
\u00a0
resulting
\u00a0
in
\u00a0
a
goodwill
\u00a0
of
\u00a0
approximately
\u00a0
EUR
\u00a0
7
\u00a0
million.
", "dimensions": { "concept": "ifrs-full:DisclosureOfBusinessCombinationsExplanatory", "language": "en", "entity": "scheme:743700G7A9J1PHM3X223", "period": "2022-01-01T00:00:00/2023-01-01T00:00:00" } }, "ID_92": { "value": "
6.4.
\u00a0
ASSETS
\u00a0
HELD
\u00a0
FOR
\u00a0
SALE
Accounting
\u00a0
principles
Non-current
\u00a0
assets
\u00a0
and
\u00a0
assets
\u00a0
and
\u00a0
liabilities
\u00a0
related
\u00a0
to
\u00a0
discontinued
\u00a0
operations
\u00a0
are
\u00a0
classified
\u00a0
as
\u00a0
held
\u00a0
for
sale
\u00a0
if
\u00a0
their
\u00a0
carrying
\u00a0
amounts
\u00a0
are
\u00a0
expected
\u00a0
to
\u00a0
be
\u00a0
recovered
\u00a0
primarily
\u00a0
through
\u00a0
sale
\u00a0
rather
\u00a0
than
\u00a0
through
continuing
\u00a0
use.
\u00a0
Classification
\u00a0
as
\u00a0
held
\u00a0
for
\u00a0
sale
\u00a0
requires
\u00a0
that
\u00a0
the
\u00a0
asset
\u00a0
(or
\u00a0
disposal
\u00a0
group)
\u00a0
must
\u00a0
be
\u00a0
available
for
\u00a0
immediate
\u00a0
sale
\u00a0
in
\u00a0
its
\u00a0
present
\u00a0
condition
\u00a0
subject
\u00a0
only
\u00a0
to
\u00a0
terms
\u00a0
that
\u00a0
are
\u00a0
usual
\u00a0
and
\u00a0
customary
\u00a0
for
\u00a0
sales
\u00a0
of
such
\u00a0
assets
\u00a0
(or
\u00a0
disposal
\u00a0
groups)
\u00a0
and
\u00a0
its
\u00a0
sale
\u00a0
must
\u00a0
be
\u00a0
highly
\u00a0
probable.
Prior
\u00a0
to
\u00a0
classification
\u00a0
as
\u00a0
held
\u00a0
for
\u00a0
sale,
\u00a0
the
\u00a0
assets
\u00a0
or
\u00a0
assets
\u00a0
and
\u00a0
liabilities
\u00a0
related
\u00a0
to
\u00a0
a
\u00a0
disposal
\u00a0
group
\u00a0
in
question
\u00a0
are
\u00a0
measured
\u00a0
according
\u00a0
to
\u00a0
the
\u00a0
respective
\u00a0
Accounting
\u00a0
Standards.
\u00a0
From
\u00a0
the
\u00a0
date
\u00a0
of
\u00a0
classification,
non-current
\u00a0
assets
\u00a0
held
\u00a0
for
\u00a0
sale
\u00a0
are
\u00a0
measured
\u00a0
at
\u00a0
the
\u00a0
lower
\u00a0
of
\u00a0
the
\u00a0
carrying
\u00a0
amount
\u00a0
and
\u00a0
the
\u00a0
fair
\u00a0
value
\u00a0
less
costs
\u00a0
to
\u00a0
sell,
\u00a0
and
\u00a0
the
\u00a0
recognition
\u00a0
of
\u00a0
depreciation
\u00a0
and
\u00a0
amortisation
\u00a0
is
\u00a0
discontinued.
Non-current
\u00a0
assets
\u00a0
held
\u00a0
for
\u00a0
sale
\u00a0
are
\u00a0
presented
\u00a0
in
\u00a0
the
\u00a0
statement
\u00a0
of
\u00a0
financial
\u00a0
position
\u00a0
separately
\u00a0
from
\u00a0
other
items.
\u00a0
The
\u00a0
comparison
\u00a0
figures
\u00a0
for
\u00a0
the
\u00a0
statement
\u00a0
of
\u00a0
financial
\u00a0
position
\u00a0
are
\u00a0
not
\u00a0
restated.
2023
Since
\u00a0
July
\u00a0
2022,
\u00a0
certain
\u00a0
non-current
\u00a0
assets
\u00a0
related
\u00a0
to
\u00a0
the
\u00a0
ramp-down
\u00a0
of
\u00a0
manufacturing
\u00a0
in
\u00a0
Trieste,
\u00a0
Italy
\u00a0
have
been
\u00a0
classified
\u00a0
as
\u00a0
assets
\u00a0
held
\u00a0
for
\u00a0
sale.
\u00a0
Engine
\u00a0
manufacturing
\u00a0
in
\u00a0
Trieste
\u00a0
belongs
\u00a0
to
\u00a0
Marine
\u00a0
Power.
All
\u00a0
assets
\u00a0
held
\u00a0
for
\u00a0
sale
\u00a0
are
\u00a0
valued
\u00a0
at
\u00a0
the
\u00a0
lower
\u00a0
of
\u00a0
book
\u00a0
value
\u00a0
or
\u00a0
fair
\u00a0
value.
Items
\u00a0
on
\u00a0
the
\u00a0
statement
\u00a0
of
\u00a0
financial
\u00a0
position
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
MEUR
31.12.2023
31.12.2022
Goodwill
24
Other
\u00a0
intangible
\u00a0
assets
2
Property,
\u00a0
plant
\u00a0
and
\u00a0
equipment
5
28
Inventories
1
Trade
\u00a0
receivables,
\u00a0
current
17
Other
\u00a0
receivables,
\u00a0
current
9
Cash
\u00a0
and
\u00a0
cash
\u00a0
equivalents
3
Assets
\u00a0
held
\u00a0
for
\u00a0
sale
5
84
Write
\u00a0
-down
\u00a0
of
\u00a0
assets
-30
Net
\u00a0
for
\u00a0
assets
\u00a0
held
\u00a0
for
\u00a0
sale
5
54
Trade
\u00a0
payables,
\u00a0
current
10
Tax
\u00a0
liabilities,
\u00a0
current
4
Other
\u00a0
liabilities,
\u00a0
current
7
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
Liabilities
\u00a0
directly
\u00a0
attributable
\u00a0
to
\u00a0
assets
\u00a0
held
\u00a0
for
\u00a0
sale
22
Net
\u00a0
assets
5
32
The
\u00a0
write-down
\u00a0
of
\u00a0
assets
\u00a0
is
\u00a0
recognised
\u00a0
in
\u00a0
the
\u00a0
statement
\u00a0
of
\u00a0
income
\u00a0
as
\u00a0
depreciation,
\u00a0
amortisation
\u00a0
and
impairment.
", "dimensions": { "concept": "ifrs-full:DisclosureOfNoncurrentAssetsOrDisposalGroupsClassifiedAsHeldForSaleExplanatory", "language": "en", "entity": "scheme:743700G7A9J1PHM3X223", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00" } }, "ID_94": { "value": "
Accounting
\u00a0
principles
Non-current
\u00a0
assets
\u00a0
and
\u00a0
assets
\u00a0
and
\u00a0
liabilities
\u00a0
related
\u00a0
to
\u00a0
discontinued
\u00a0
operations
\u00a0
are
\u00a0
classified
\u00a0
as
\u00a0
held
\u00a0
for
sale
\u00a0
if
\u00a0
their
\u00a0
carrying
\u00a0
amounts
\u00a0
are
\u00a0
expected
\u00a0
to
\u00a0
be
\u00a0
recovered
\u00a0
primarily
\u00a0
through
\u00a0
sale
\u00a0
rather
\u00a0
than
\u00a0
through
continuing
\u00a0
use.
\u00a0
Classification
\u00a0
as
\u00a0
held
\u00a0
for
\u00a0
sale
\u00a0
requires
\u00a0
that
\u00a0
the
\u00a0
asset
\u00a0
(or
\u00a0
disposal
\u00a0
group)
\u00a0
must
\u00a0
be
\u00a0
available
for
\u00a0
immediate
\u00a0
sale
\u00a0
in
\u00a0
its
\u00a0
present
\u00a0
condition
\u00a0
subject
\u00a0
only
\u00a0
to
\u00a0
terms
\u00a0
that
\u00a0
are
\u00a0
usual
\u00a0
and
\u00a0
customary
\u00a0
for
\u00a0
sales
\u00a0
of
such
\u00a0
assets
\u00a0
(or
\u00a0
disposal
\u00a0
groups)
\u00a0
and
\u00a0
its
\u00a0
sale
\u00a0
must
\u00a0
be
\u00a0
highly
\u00a0
probable.
Prior
\u00a0
to
\u00a0
classification
\u00a0
as
\u00a0
held
\u00a0
for
\u00a0
sale,
\u00a0
the
\u00a0
assets
\u00a0
or
\u00a0
assets
\u00a0
and
\u00a0
liabilities
\u00a0
related
\u00a0
to
\u00a0
a
\u00a0
disposal
\u00a0
group
\u00a0
in
question
\u00a0
are
\u00a0
measured
\u00a0
according
\u00a0
to
\u00a0
the
\u00a0
respective
\u00a0
Accounting
\u00a0
Standards.
\u00a0
From
\u00a0
the
\u00a0
date
\u00a0
of
\u00a0
classification,
non-current
\u00a0
assets
\u00a0
held
\u00a0
for
\u00a0
sale
\u00a0
are
\u00a0
measured
\u00a0
at
\u00a0
the
\u00a0
lower
\u00a0
of
\u00a0
the
\u00a0
carrying
\u00a0
amount
\u00a0
and
\u00a0
the
\u00a0
fair
\u00a0
value
\u00a0
less
costs
\u00a0
to
\u00a0
sell,
\u00a0
and
\u00a0
the
\u00a0
recognition
\u00a0
of
\u00a0
depreciation
\u00a0
and
\u00a0
amortisation
\u00a0
is
\u00a0
discontinued.
Non-current
\u00a0
assets
\u00a0
held
\u00a0
for
\u00a0
sale
\u00a0
are
\u00a0
presented
\u00a0
in
\u00a0
the
\u00a0
statement
\u00a0
of
\u00a0
financial
\u00a0
position
\u00a0
separately
\u00a0
from
\u00a0
other
items.
\u00a0
The
\u00a0
comparison
\u00a0
figures
\u00a0
for
\u00a0
the
\u00a0
statement
\u00a0
of
\u00a0
financial
\u00a0
position
\u00a0
are
\u00a0
not
\u00a0
restated.
", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForNoncurrentAssetsOrDisposalGroupsClassifiedAsHeldForSaleExplanatory", "language": "en", "entity": "scheme:743700G7A9J1PHM3X223", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00" } }, "ID_93": { "value": "
2022
W\u00e4rtsil\u00e4
\u00a0
classified
\u00a0
business
\u00a0
unit
\u00a0
American
\u00a0
Hydro
\u00a0
and
\u00a0
certain
\u00a0
non-current
\u00a0
assets
\u00a0
related
\u00a0
to
\u00a0
ending
\u00a0
the
\u00a0
4-stroke
engine
\u00a0
manufacturing
\u00a0
in
\u00a0
Trieste,
\u00a0
Italy
\u00a0
as
\u00a0
assets
\u00a0
held
\u00a0
for
\u00a0
sale.
In
\u00a0
December
\u00a0
2022,
\u00a0
W\u00e4rtsil\u00e4
\u00a0
announced
\u00a0
the
\u00a0
divestment
\u00a0
of
\u00a0
American
\u00a0
Hydro
\u00a0
to
\u00a0
Enprotech
\u00a0
Corp,
\u00a0
a
\u00a0
wholly
\u00a0
owned
subsidiary
\u00a0
of
\u00a0
publicly
\u00a0
traded
\u00a0
ITOCHU
\u00a0
Corporation
\u00a0
(ITC).
\u00a0
American
\u00a0
Hydro
\u00a0
offers
\u00a0
custom
\u00a0
hydropower
refurbishment
\u00a0
solutions
\u00a0
and
\u00a0
turbine
\u00a0
services
\u00a0
focusing
\u00a0
mainly
\u00a0
on
\u00a0
North
\u00a0
American
\u00a0
markets.
\u00a0
The
\u00a0
company
\u00a0
was
founded
\u00a0
in
\u00a0
1986
\u00a0
and
\u00a0
became
\u00a0
part
\u00a0
of
\u00a0
W\u00e4rtsil\u00e4
\u00a0
in
\u00a0
2016.
\u00a0
The
\u00a0
annual
\u00a0
revenues
\u00a0
of
\u00a0
the
\u00a0
company
\u00a0
were
approximately
\u00a0
USD
\u00a0
50
\u00a0
million
\u00a0
in
\u00a0
2021.
Classifying
\u00a0
business
\u00a0
unit
\u00a0
American
\u00a0
Hydro
\u00a0
as
\u00a0
assets
\u00a0
held
\u00a0
for
\u00a0
sale
\u00a0
had
\u00a0
an
\u00a0
impact
\u00a0
of
\u00a0
EUR
\u00a0
-24
\u00a0
million
\u00a0
on
\u00a0
the
result
\u00a0
for
\u00a0
the
\u00a0
financial
\u00a0
period
\u00a0
2022,
\u00a0
of
\u00a0
which
\u00a0
EUR
\u00a0
-15
\u00a0
million
\u00a0
related
\u00a0
to
\u00a0
asset
\u00a0
write-offs.
\u00a0
Completion
\u00a0
of
\u00a0
the
transaction
\u00a0
occurred
\u00a0
in
\u00a0
the
\u00a0
first
\u00a0
half
\u00a0
of
\u00a0
2023.
\u00a0
Business
\u00a0
unit
\u00a0
American
\u00a0
Hydro
\u00a0
belonged
\u00a0
to
\u00a0
Portfolio
\u00a0
Business.
In
\u00a0
July
\u00a0
2022,
\u00a0
W\u00e4rtsil\u00e4
\u00a0
announced
\u00a0
its
\u00a0
plan
\u00a0
to
\u00a0
ramp
\u00a0
down
\u00a0
manufacturing
\u00a0
in
\u00a0
Trieste,
\u00a0
Italy
\u00a0
and
\u00a0
to
\u00a0
centralise
\u00a0
its
\u00a0
4-
stroke
\u00a0
engine
\u00a0
manufacturing
\u00a0
in
\u00a0
Europe
\u00a0
to
\u00a0
Vaasa,
\u00a0
Finland.
\u00a0
Write
\u00a0
-offs
\u00a0
based
\u00a0
on
\u00a0
impairments
\u00a0
related
\u00a0
to
\u00a0
assets
\u00a0
in
Trieste
\u00a0
amounted
\u00a0
to
\u00a0
EUR
\u00a0
-14
\u00a0
million
\u00a0
in
\u00a0
2022.
\u00a0
Engine
\u00a0
manufacturing
\u00a0
in
\u00a0
Trieste
\u00a0
belongs
\u00a0
to
\u00a0
Marine
\u00a0
Power.
All
\u00a0
assets
\u00a0
held
\u00a0
for
\u00a0
sale
\u00a0
are
\u00a0
valued
\u00a0
at
\u00a0
the
\u00a0
lower
\u00a0
of
\u00a0
book
\u00a0
value
\u00a0
or
\u00a0
fair
\u00a0
value.
", "dimensions": { "concept": "ifrs-full:DisclosureOfNoncurrentAssetsOrDisposalGroupsClassifiedAsHeldForSaleExplanatory", "language": "en", "entity": "scheme:743700G7A9J1PHM3X223", "period": "2022-01-01T00:00:00/2023-01-01T00:00:00" } }, "ID_95": { "value": "
6.5.
\u00a0
INVESTMENTS
\u00a0
IN
\u00a0
ASSOCIATES
\u00a0
AND
\u00a0
JOINT
\u00a0
VENTURES
Accounting
\u00a0
principles
Associated
\u00a0
companies
\u00a0
are
\u00a0
all
\u00a0
entities
\u00a0
over
\u00a0
which
\u00a0
the
\u00a0
Group
\u00a0
has
\u00a0
significant
\u00a0
influence
\u00a0
but
\u00a0
not
\u00a0
control
\u00a0
or
\u00a0
joint
control.
\u00a0
This
\u00a0
is
\u00a0
generally
\u00a0
the
\u00a0
case
\u00a0
where
\u00a0
the
\u00a0
Group
\u00a0
holds
\u00a0
between
\u00a0
20%
\u00a0
and
\u00a0
50%
\u00a0
of
\u00a0
the
\u00a0
voting
\u00a0
rights.
A
\u00a0
joint
\u00a0
venture
\u00a0
is
\u00a0
a
\u00a0
joint
\u00a0
arrangement
\u00a0
whereby
\u00a0
the
\u00a0
parties
\u00a0
that
\u00a0
have
\u00a0
joint
\u00a0
control
\u00a0
of
\u00a0
the
\u00a0
arrangement
\u00a0
have
rights
\u00a0
to
\u00a0
the
\u00a0
net
\u00a0
assets
\u00a0
of
\u00a0
the
\u00a0
joint
\u00a0
venture.
\u00a0
Joint
\u00a0
control
\u00a0
is
\u00a0
established
\u00a0
by
\u00a0
contractual
\u00a0
agreement.
Associated
\u00a0
companies
\u00a0
and
\u00a0
joint
\u00a0
ventures
\u00a0
are
\u00a0
included
\u00a0
in
\u00a0
the
\u00a0
consolidated
\u00a0
financial
\u00a0
statements
\u00a0
using
\u00a0
the
equity
\u00a0
method
\u00a0
from
\u00a0
the
\u00a0
date
\u00a0
the
\u00a0
Group\u2019s
\u00a0
significant
\u00a0
influence
\u00a0
or
\u00a0
joint
\u00a0
control
\u00a0
commences
\u00a0
until
\u00a0
the
\u00a0
date
\u00a0
it
ceases.
\u00a0
Investments
\u00a0
in
\u00a0
associates
\u00a0
are
\u00a0
initially
\u00a0
recognised
\u00a0
at
\u00a0
cost,
\u00a0
and
\u00a0
the
\u00a0
carrying
\u00a0
amount
\u00a0
is
\u00a0
increased
\u00a0
or
decreased
\u00a0
according
\u00a0
to
\u00a0
the
\u00a0
Group\u00b4s
\u00a0
share
\u00a0
of
\u00a0
changes
\u00a0
in
\u00a0
the
\u00a0
net
\u00a0
assets
\u00a0
of
\u00a0
the
\u00a0
associate
\u00a0
after
\u00a0
the
\u00a0
date
\u00a0
of
\u00a0
the
acquisition.
\u00a0
The
\u00a0
Group\u2019s
\u00a0
share
\u00a0
of
\u00a0
the
\u00a0
associated
\u00a0
company\u2019s
\u00a0
or
\u00a0
joint
\u00a0
venture\u2019s
\u00a0
result
\u00a0
for
\u00a0
the
\u00a0
reporting
\u00a0
period
is
\u00a0
shown
\u00a0
as
\u00a0
a
\u00a0
separate
\u00a0
item
\u00a0
before
\u00a0
the
\u00a0
Group\u2019s
\u00a0
operating
\u00a0
result,
\u00a0
on
\u00a0
the
\u00a0
line
\u00a0
Share
\u00a0
of
\u00a0
result
\u00a0
of
\u00a0
associates
and
\u00a0
joint
\u00a0
ventures.
\u00a0
The
\u00a0
Group\u2019s
\u00a0
share
\u00a0
of
\u00a0
the
\u00a0
associated
\u00a0
company\u2019s
\u00a0
or
\u00a0
joint
\u00a0
venture\u2019s
\u00a0
changes
\u00a0
recognised
\u00a0
in
other
\u00a0
comprehensive
\u00a0
income
\u00a0
is
\u00a0
recognised
\u00a0
in
\u00a0
the
\u00a0
Group\u2019s
\u00a0
other
\u00a0
comprehensive
\u00a0
income.
\u00a0
W\u00e4rtsil\u00e4\u2019s
proportion
\u00a0
of
\u00a0
the
\u00a0
associated
\u00a0
company\u2019s
\u00a0
or
\u00a0
joint
\u00a0
venture\u2019s
\u00a0
post-acquisition
\u00a0
accumulated
\u00a0
equity
\u00a0
is
\u00a0
included
\u00a0
in
the
\u00a0
Group\u2019s
\u00a0
equity.
\u00a0
If
\u00a0
the
\u00a0
Group\u2019s
\u00a0
share
\u00a0
of
\u00a0
the
\u00a0
associated
\u00a0
company's
\u00a0
or
\u00a0
joint
\u00a0
venture's
\u00a0
losses
\u00a0
exceeds
\u00a0
its
interest
\u00a0
in
\u00a0
the
\u00a0
company,
\u00a0
the
\u00a0
carrying
\u00a0
amount
\u00a0
is
\u00a0
written
\u00a0
down
\u00a0
to
\u00a0
zero.
\u00a0
After
\u00a0
this,
\u00a0
losses
\u00a0
are
\u00a0
only
\u00a0
recognised
\u00a0
if
the
\u00a0
Group
\u00a0
has
\u00a0
incurred
\u00a0
obligations
\u00a0
from
\u00a0
the
\u00a0
associated
\u00a0
company
\u00a0
or
\u00a0
joint
\u00a0
venture.
The
\u00a0
accumulated
\u00a0
exchange
\u00a0
rate
\u00a0
differences
\u00a0
arising
\u00a0
from
\u00a0
the
\u00a0
consolidation
\u00a0
of
\u00a0
associated
\u00a0
companies
\u00a0
and
joint
\u00a0
ventures,
\u00a0
which
\u00a0
are
\u00a0
recognised
\u00a0
in
\u00a0
equity,
\u00a0
are
\u00a0
recognised
\u00a0
in
\u00a0
the
\u00a0
statement
\u00a0
of
\u00a0
income
\u00a0
as
\u00a0
part
\u00a0
of
\u00a0
the
\u00a0
gain
or
\u00a0
loss
\u00a0
when
\u00a0
change
\u00a0
in
\u00a0
ownership
\u00a0
occurs.
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
MEUR
2023
2022
Carrying
\u00a0
amount
\u00a0
on
\u00a0
1
\u00a0
January
29
27
Share
\u00a0
of
\u00a0
result
9
6
Dividends
-3
-2
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
Translation
\u00a0
differences
-2
-1
Impairment
-1
Carrying
\u00a0
amount
\u00a0
on
\u00a0
31
\u00a0
December
33
29
Summary
\u00a0
of
\u00a0
financial
\u00a0
information
\u00a0
(100%):
2023
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
MEUR
Hold-
ing
\u00a0
%
Non-
current
\u00a0
assets
Current
assets
Equity
Non-
current
liabilities
Current
liabilities
Net
\u00a0
sales
Result
for
\u00a0
the
\u00a0
financial
period
Joint
\u00a0
ventures
W\u00e4rtsil\u00e4
\u00a0
Qiyao
\u00a0
Diesel
Company
\u00a0
Ltd.
China
50.0
5
63
25
0
44
57
7
CSSC
\u00a0
W\u00e4rtsil\u00e4
\u00a0
Electrical
&
\u00a0
Automation
\u00a0
Co.,
\u00a0
Ltd.
China
49.0
0
14
3
0
11
25
0
CSSC
\u00a0
W\u00e4rtsil\u00e4
\u00a0
Engine
(Shanghai)
\u00a0
Co.,
\u00a0
Ltd.
China
49.0
63
297
37
32
291
165
10
Repropel
\u00a0
Sociedad
\u00a0
de
reparacao
\u00a0
de
\u00a0
helices
Portugal
50.0
1
1
1
CSSC
\u00a0
W\u00e4rtsil\u00e4
\u00a0
Engine
\u00a0
(Shanghai)
\u00a0
Co.,
\u00a0
Ltd.
\u00a0
manufactures
\u00a0
medium
\u00a0
and
\u00a0
large
\u00a0
bore
\u00a0
medium
\u00a0
speed
\u00a0
diesel
\u00a0
and
dual-fuel
\u00a0
engines
\u00a0
at
\u00a0
its
\u00a0
factory
\u00a0
in
\u00a0
Lingang,
\u00a0
Shanghai,
\u00a0
China.
\u00a0
W\u00e4rtsil\u00e4
\u00a0
Qiyao
\u00a0
Diesel
\u00a0
Company
\u00a0
Ltd.
\u00a0
manufactures
marine
\u00a0
auxiliary
\u00a0
engines
\u00a0
in
\u00a0
Shanghai,
\u00a0
China.
\u00a0
CSSC
\u00a0
W\u00e4rtsil\u00e4
\u00a0
Electrical
\u00a0
&
\u00a0
Automation
\u00a0
Co.,
\u00a0
Ltd.
\u00a0
manufactures
advanced
\u00a0
electronical
\u00a0
and
\u00a0
automation
\u00a0
solutions
\u00a0
for
\u00a0
the
\u00a0
cruise
\u00a0
industry.
", "dimensions": { "concept": "ifrs-full:DisclosureOfInvestmentsAccountedForUsingEquityMethodExplanatory", "language": "en", "entity": "scheme:743700G7A9J1PHM3X223", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00" } }, "ID_97": { "value": "
Accounting
\u00a0
principles
Associated
\u00a0
companies
\u00a0
are
\u00a0
all
\u00a0
entities
\u00a0
over
\u00a0
which
\u00a0
the
\u00a0
Group
\u00a0
has
\u00a0
significant
\u00a0
influence
\u00a0
but
\u00a0
not
\u00a0
control
\u00a0
or
\u00a0
joint
control.
\u00a0
This
\u00a0
is
\u00a0
generally
\u00a0
the
\u00a0
case
\u00a0
where
\u00a0
the
\u00a0
Group
\u00a0
holds
\u00a0
between
\u00a0
20%
\u00a0
and
\u00a0
50%
\u00a0
of
\u00a0
the
\u00a0
voting
\u00a0
rights.
A
\u00a0
joint
\u00a0
venture
\u00a0
is
\u00a0
a
\u00a0
joint
\u00a0
arrangement
\u00a0
whereby
\u00a0
the
\u00a0
parties
\u00a0
that
\u00a0
have
\u00a0
joint
\u00a0
control
\u00a0
of
\u00a0
the
\u00a0
arrangement
\u00a0
have
rights
\u00a0
to
\u00a0
the
\u00a0
net
\u00a0
assets
\u00a0
of
\u00a0
the
\u00a0
joint
\u00a0
venture.
\u00a0
Joint
\u00a0
control
\u00a0
is
\u00a0
established
\u00a0
by
\u00a0
contractual
\u00a0
agreement.
Associated
\u00a0
companies
\u00a0
and
\u00a0
joint
\u00a0
ventures
\u00a0
are
\u00a0
included
\u00a0
in
\u00a0
the
\u00a0
consolidated
\u00a0
financial
\u00a0
statements
\u00a0
using
\u00a0
the
equity
\u00a0
method
\u00a0
from
\u00a0
the
\u00a0
date
\u00a0
the
\u00a0
Group\u2019s
\u00a0
significant
\u00a0
influence
\u00a0
or
\u00a0
joint
\u00a0
control
\u00a0
commences
\u00a0
until
\u00a0
the
\u00a0
date
\u00a0
it
ceases.
\u00a0
Investments
\u00a0
in
\u00a0
associates
\u00a0
are
\u00a0
initially
\u00a0
recognised
\u00a0
at
\u00a0
cost,
\u00a0
and
\u00a0
the
\u00a0
carrying
\u00a0
amount
\u00a0
is
\u00a0
increased
\u00a0
or
decreased
\u00a0
according
\u00a0
to
\u00a0
the
\u00a0
Group\u00b4s
\u00a0
share
\u00a0
of
\u00a0
changes
\u00a0
in
\u00a0
the
\u00a0
net
\u00a0
assets
\u00a0
of
\u00a0
the
\u00a0
associate
\u00a0
after
\u00a0
the
\u00a0
date
\u00a0
of
\u00a0
the
acquisition.
\u00a0
The
\u00a0
Group\u2019s
\u00a0
share
\u00a0
of
\u00a0
the
\u00a0
associated
\u00a0
company\u2019s
\u00a0
or
\u00a0
joint
\u00a0
venture\u2019s
\u00a0
result
\u00a0
for
\u00a0
the
\u00a0
reporting
\u00a0
period
is
\u00a0
shown
\u00a0
as
\u00a0
a
\u00a0
separate
\u00a0
item
\u00a0
before
\u00a0
the
\u00a0
Group\u2019s
\u00a0
operating
\u00a0
result,
\u00a0
on
\u00a0
the
\u00a0
line
\u00a0
Share
\u00a0
of
\u00a0
result
\u00a0
of
\u00a0
associates
and
\u00a0
joint
\u00a0
ventures.
\u00a0
The
\u00a0
Group\u2019s
\u00a0
share
\u00a0
of
\u00a0
the
\u00a0
associated
\u00a0
company\u2019s
\u00a0
or
\u00a0
joint
\u00a0
venture\u2019s
\u00a0
changes
\u00a0
recognised
\u00a0
in
other
\u00a0
comprehensive
\u00a0
income
\u00a0
is
\u00a0
recognised
\u00a0
in
\u00a0
the
\u00a0
Group\u2019s
\u00a0
other
\u00a0
comprehensive
\u00a0
income.
\u00a0
W\u00e4rtsil\u00e4\u2019s
proportion
\u00a0
of
\u00a0
the
\u00a0
associated
\u00a0
company\u2019s
\u00a0
or
\u00a0
joint
\u00a0
venture\u2019s
\u00a0
post-acquisition
\u00a0
accumulated
\u00a0
equity
\u00a0
is
\u00a0
included
\u00a0
in
the
\u00a0
Group\u2019s
\u00a0
equity.
\u00a0
If
\u00a0
the
\u00a0
Group\u2019s
\u00a0
share
\u00a0
of
\u00a0
the
\u00a0
associated
\u00a0
company's
\u00a0
or
\u00a0
joint
\u00a0
venture's
\u00a0
losses
\u00a0
exceeds
\u00a0
its
interest
\u00a0
in
\u00a0
the
\u00a0
company,
\u00a0
the
\u00a0
carrying
\u00a0
amount
\u00a0
is
\u00a0
written
\u00a0
down
\u00a0
to
\u00a0
zero.
\u00a0
After
\u00a0
this,
\u00a0
losses
\u00a0
are
\u00a0
only
\u00a0
recognised
\u00a0
if
the
\u00a0
Group
\u00a0
has
\u00a0
incurred
\u00a0
obligations
\u00a0
from
\u00a0
the
\u00a0
associated
\u00a0
company
\u00a0
or
\u00a0
joint
\u00a0
venture.
The
\u00a0
accumulated
\u00a0
exchange
\u00a0
rate
\u00a0
differences
\u00a0
arising
\u00a0
from
\u00a0
the
\u00a0
consolidation
\u00a0
of
\u00a0
associated
\u00a0
companies
\u00a0
and
joint
\u00a0
ventures,
\u00a0
which
\u00a0
are
\u00a0
recognised
\u00a0
in
\u00a0
equity,
\u00a0
are
\u00a0
recognised
\u00a0
in
\u00a0
the
\u00a0
statement
\u00a0
of
\u00a0
income
\u00a0
as
\u00a0
part
\u00a0
of
\u00a0
the
\u00a0
gain
or
\u00a0
loss
\u00a0
when
\u00a0
change
\u00a0
in
\u00a0
ownership
\u00a0
occurs.
", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForInvestmentInAssociatesAndJointVenturesExplanatory", "language": "en", "entity": "scheme:743700G7A9J1PHM3X223", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00" } }, "ID_96": { "value": "
2022
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
MEUR
Hold-
ing
\u00a0
%
Non-
current
\u00a0
assets
Current
assets
Equity
Non-
current
liabilities
Current
liabilities
Net
\u00a0
sales
Result
for
\u00a0
the
\u00a0
financial
period
Joint
\u00a0
ventures
W\u00e4rtsil\u00e4
\u00a0
Qiyao
\u00a0
Diesel
Company
\u00a0
Ltd.
China
50.0
7
48
24
30
54
6
CSSC
\u00a0
W\u00e4rtsil\u00e4
\u00a0
Electrical
&
\u00a0
Automation
\u00a0
Co.,
\u00a0
Ltd.
China
49.0
13
3
11
19
CSSC
\u00a0
W\u00e4rtsil\u00e4
\u00a0
Engine
(Shanghai)
\u00a0
Co.,
\u00a0
Ltd.
China
49.0
61
179
29
31
180
86
5
Repropel
\u00a0
Sociedad
\u00a0
de
reparacao
\u00a0
de
\u00a0
helices
Portugal
50.0
1
1
1
1
", "dimensions": { "concept": "ifrs-full:DisclosureOfInvestmentsAccountedForUsingEquityMethodExplanatory", "language": "en", "entity": "scheme:743700G7A9J1PHM3X223", "period": "2022-01-01T00:00:00/2023-01-01T00:00:00" } }, "ID_98": { "value": "
6.6.
\u00a0
EXCHANGE
\u00a0
RATES
Accounting
\u00a0
principles
Translating
\u00a0
the
\u00a0
transactions
\u00a0
in
\u00a0
foreign
\u00a0
currencies
The
\u00a0
items
\u00a0
included
\u00a0
in
\u00a0
the
\u00a0
financial
\u00a0
statements
\u00a0
are
\u00a0
initially
\u00a0
recognised
\u00a0
in
\u00a0
the
\u00a0
functional
\u00a0
currency,
\u00a0
which
\u00a0
is
defined
\u00a0
for
\u00a0
each
\u00a0
Group
\u00a0
company
\u00a0
based
\u00a0
on
\u00a0
its
\u00a0
primary
\u00a0
economic
\u00a0
environment.
\u00a0
The
\u00a0
presentation
\u00a0
currency
\u00a0
of
the
\u00a0
consolidated
\u00a0
financial
\u00a0
statements
\u00a0
is
\u00a0
the
\u00a0
euro,
\u00a0
which
\u00a0
is
\u00a0
also
\u00a0
the
\u00a0
functional
\u00a0
and
\u00a0
presentation
\u00a0
currency
\u00a0
of
W\u00e4rtsil\u00e4
\u00a0
Corporation.
Foreign
\u00a0
subsidiaries
The
\u00a0
income
\u00a0
and
\u00a0
expenses
\u00a0
for
\u00a0
statements
\u00a0
of
\u00a0
income
\u00a0
and
\u00a0
statements
\u00a0
of
\u00a0
comprehensive
\u00a0
income
\u00a0
of
\u00a0
foreign
subsidiaries
\u00a0
are
\u00a0
translated
\u00a0
into
\u00a0
euros
\u00a0
at
\u00a0
the
\u00a0
quarterly
\u00a0
average
\u00a0
exchange
\u00a0
rates.
\u00a0
Statements
\u00a0
of
\u00a0
financial
position
\u00a0
are
\u00a0
translated
\u00a0
into
\u00a0
euros
\u00a0
at
\u00a0
the
\u00a0
exchange
\u00a0
rates
\u00a0
prevailing
\u00a0
at
\u00a0
the
\u00a0
end
\u00a0
of
\u00a0
the
\u00a0
reporting
\u00a0
period.
\u00a0
The
translation
\u00a0
of
\u00a0
the
\u00a0
result
\u00a0
for
\u00a0
the
\u00a0
reporting
\u00a0
period
\u00a0
and
\u00a0
other
\u00a0
comprehensive
\u00a0
income
\u00a0
using
\u00a0
different
\u00a0
exchange
rates
\u00a0
in
\u00a0
the
\u00a0
statement
\u00a0
of
\u00a0
comprehensive
\u00a0
income
\u00a0
and
\u00a0
the
\u00a0
statement
\u00a0
of
\u00a0
financial
\u00a0
position
\u00a0
causes
\u00a0
translation
differences,
\u00a0
which
\u00a0
are
\u00a0
recognised
\u00a0
in
\u00a0
equity
\u00a0
and
\u00a0
in
\u00a0
other
\u00a0
comprehensive
\u00a0
income
\u00a0
as
\u00a0
change.
\u00a0
Translation
differences
\u00a0
of
\u00a0
foreign
\u00a0
subsidiaries\u2019
\u00a0
acquisition
\u00a0
cost
\u00a0
eliminations
\u00a0
and
\u00a0
post-acquisition
\u00a0
profits
\u00a0
and
\u00a0
losses
\u00a0
are
recognised
\u00a0
in
\u00a0
other
\u00a0
comprehensive
\u00a0
income
\u00a0
and
\u00a0
are
\u00a0
presented
\u00a0
as
\u00a0
a
\u00a0
separate
\u00a0
item
\u00a0
in
\u00a0
equity.
\u00a0
The
\u00a0
goodwill
generated
\u00a0
in
\u00a0
the
\u00a0
acquisition
\u00a0
of
\u00a0
foreign
\u00a0
entities
\u00a0
and
\u00a0
their
\u00a0
fair
\u00a0
value
\u00a0
adjustments
\u00a0
of
\u00a0
assets
\u00a0
and
\u00a0
liabilities
\u00a0
are
considered
\u00a0
as
\u00a0
assets
\u00a0
and
\u00a0
liabilities
\u00a0
of
\u00a0
foreign
\u00a0
entities,
\u00a0
which
\u00a0
are
\u00a0
translated
\u00a0
into
\u00a0
euros
\u00a0
using
\u00a0
the
\u00a0
exchange
rates
\u00a0
prevailing
\u00a0
at
\u00a0
the
\u00a0
end
\u00a0
of
\u00a0
the
\u00a0
reporting
\u00a0
period.
\u00a0
When
\u00a0
a
\u00a0
foreign
\u00a0
subsidiary
\u00a0
is
\u00a0
sold,
\u00a0
the
\u00a0
accumulated
exchange
\u00a0
rate
\u00a0
differences
\u00a0
recognised
\u00a0
in
\u00a0
the
\u00a0
equity
\u00a0
related
\u00a0
to
\u00a0
the
\u00a0
subsidiary
\u00a0
are
\u00a0
recognised
\u00a0
in
\u00a0
the
\u00a0
statement
of
\u00a0
income
\u00a0
as
\u00a0
a
\u00a0
part
\u00a0
of
\u00a0
the
\u00a0
gain
\u00a0
or
\u00a0
loss
\u00a0
on
\u00a0
sale.
Transactions
\u00a0
and
\u00a0
balances
\u00a0
in
\u00a0
foreign
\u00a0
currencies
Transactions
\u00a0
denominated
\u00a0
in
\u00a0
a
\u00a0
foreign
\u00a0
currency
\u00a0
are
\u00a0
translated
\u00a0
into
\u00a0
the
\u00a0
functional
\u00a0
currency
\u00a0
using
\u00a0
the
exchange
\u00a0
rates
\u00a0
prevailing
\u00a0
at
\u00a0
the
\u00a0
dates
\u00a0
of
\u00a0
the
\u00a0
transactions.
\u00a0
Receivables
\u00a0
and
\u00a0
liabilities
\u00a0
are
\u00a0
translated
\u00a0
at
\u00a0
the
exchange
\u00a0
rates
\u00a0
prevailing
\u00a0
at
\u00a0
the
\u00a0
end
\u00a0
of
\u00a0
the
\u00a0
reporting
\u00a0
period.
\u00a0
Exchange
\u00a0
rate
\u00a0
gains
\u00a0
and
\u00a0
losses
\u00a0
related
\u00a0
to
trade
\u00a0
receivables
\u00a0
and
\u00a0
liabilities
\u00a0
are
\u00a0
reported
\u00a0
on
\u00a0
the
\u00a0
applicable
\u00a0
line
\u00a0
in
\u00a0
the
\u00a0
statement
\u00a0
of
\u00a0
income
\u00a0
and
\u00a0
are
included
\u00a0
in
\u00a0
the
\u00a0
operating
\u00a0
result.
\u00a0
Exchange
\u00a0
rate
\u00a0
differences
\u00a0
related
\u00a0
to
\u00a0
financial
\u00a0
assets
\u00a0
and
\u00a0
financial
\u00a0
liabilities
are
\u00a0
reported
\u00a0
as
\u00a0
financial
\u00a0
items
\u00a0
in
\u00a0
the
\u00a0
statement
\u00a0
of
\u00a0
income,
\u00a0
except
\u00a0
exchange
\u00a0
rate
\u00a0
differences
\u00a0
related
\u00a0
to
\u00a0
non-
current
\u00a0
debt
\u00a0
that
\u00a0
is
\u00a0
part
\u00a0
of
\u00a0
the
\u00a0
Group's
\u00a0
net
\u00a0
investment
\u00a0
in
\u00a0
a
\u00a0
subsidiary.
\u00a0
Those
\u00a0
are
\u00a0
recognised
\u00a0
in
\u00a0
other
comprehensive
\u00a0
income
\u00a0
and
\u00a0
reported
\u00a0
as
\u00a0
translation
\u00a0
differences
\u00a0
in
\u00a0
equity.
In
\u00a0
the
\u00a0
consolidated
\u00a0
financial
\u00a0
statements,
\u00a0
there
\u00a0
are
\u00a0
approximately
\u00a0
60
\u00a0
currencies
\u00a0
consolidated.
\u00a0
The
\u00a0
most
significant
\u00a0
currencies
\u00a0
are
\u00a0
presented
\u00a0
here.
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
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\n
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\n
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\n
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\n
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\n
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\n
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\n
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\n
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\n
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\n
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\n
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\n
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\n
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\n
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\n
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\n
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\n
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\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
-
Closing
\u00a0
rates
Average
\u00a0
rates
31
\u00a0
December
2023
31
\u00a0
December
2022
2023
2022
AED
UAE
\u00a0
Dirham
4,05833
3,91666
3,97213
3,87056
AUD
Australian
\u00a0
Dollar
1,62630
1,56930
1,62848
1,51736
BRL
Brazilian
\u00a0
Real
5,36180
5,63860
5,40162
5,44319
CHF
Swiss
\u00a0
Franc
0,92600
0,98470
0,97173
1,00517
CNY
Yuan
\u00a0
Renminbi
7,85090
7,35820
7,65907
7,08010
DKK
Danish
\u00a0
Krone
7,45290
7,43650
7,45099
7,43958
GBP
Pound
\u00a0
Sterling
0,86905
0,88693
0,86991
0,85261
IDR
Indonesian
\u00a0
Rupiah
17
\u00a0
079,71000
16
\u00a0
519,82000
16
\u00a0
480,35000
15
\u00a0
633,59000
INR
Indian
\u00a0
Rupee
91,90450
88,17100
89,32487
82,71449
JPY
Yen
156,33000
140,66000
151,94211
138,00506
NOK
Norwegian
\u00a0
Krone
11,24050
10,51380
11,42430
10,10151
RUB
Russian
\u00a0
Ruble
99,94680
76,94640
92,09110
72,77033
SAR
Saudi
\u00a0
Riyal
4,14353
4,00722
4,05721
3,95666
SEK
Swedish
\u00a0
Krona
11,09600
11,12180
11,47281
10,62744
SGD
Singapore
\u00a0
Dollar
1,45910
1,43000
1,45235
1,45197
USD
US
\u00a0
Dollar
1,10500
1,06660
1,08158
1,05388
", "dimensions": { "concept": "ifrs-full:DisclosureOfBasisOfConsolidationExplanatory", "language": "en", "entity": "scheme:743700G7A9J1PHM3X223", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00" } }, "ID_99": { "value": "
Accounting
\u00a0
principles
Translating
\u00a0
the
\u00a0
transactions
\u00a0
in
\u00a0
foreign
\u00a0
currencies
The
\u00a0
items
\u00a0
included
\u00a0
in
\u00a0
the
\u00a0
financial
\u00a0
statements
\u00a0
are
\u00a0
initially
\u00a0
recognised
\u00a0
in
\u00a0
the
\u00a0
functional
\u00a0
currency,
\u00a0
which
\u00a0
is
defined
\u00a0
for
\u00a0
each
\u00a0
Group
\u00a0
company
\u00a0
based
\u00a0
on
\u00a0
its
\u00a0
primary
\u00a0
economic
\u00a0
environment.
\u00a0
The
\u00a0
presentation
\u00a0
currency
\u00a0
of
the
\u00a0
consolidated
\u00a0
financial
\u00a0
statements
\u00a0
is
\u00a0
the
\u00a0
euro,
\u00a0
which
\u00a0
is
\u00a0
also
\u00a0
the
\u00a0
functional
\u00a0
and
\u00a0
presentation
\u00a0
currency
\u00a0
of
W\u00e4rtsil\u00e4
\u00a0
Corporation.
Foreign
\u00a0
subsidiaries
The
\u00a0
income
\u00a0
and
\u00a0
expenses
\u00a0
for
\u00a0
statements
\u00a0
of
\u00a0
income
\u00a0
and
\u00a0
statements
\u00a0
of
\u00a0
comprehensive
\u00a0
income
\u00a0
of
\u00a0
foreign
subsidiaries
\u00a0
are
\u00a0
translated
\u00a0
into
\u00a0
euros
\u00a0
at
\u00a0
the
\u00a0
quarterly
\u00a0
average
\u00a0
exchange
\u00a0
rates.
\u00a0
Statements
\u00a0
of
\u00a0
financial
position
\u00a0
are
\u00a0
translated
\u00a0
into
\u00a0
euros
\u00a0
at
\u00a0
the
\u00a0
exchange
\u00a0
rates
\u00a0
prevailing
\u00a0
at
\u00a0
the
\u00a0
end
\u00a0
of
\u00a0
the
\u00a0
reporting
\u00a0
period.
\u00a0
The
translation
\u00a0
of
\u00a0
the
\u00a0
result
\u00a0
for
\u00a0
the
\u00a0
reporting
\u00a0
period
\u00a0
and
\u00a0
other
\u00a0
comprehensive
\u00a0
income
\u00a0
using
\u00a0
different
\u00a0
exchange
rates
\u00a0
in
\u00a0
the
\u00a0
statement
\u00a0
of
\u00a0
comprehensive
\u00a0
income
\u00a0
and
\u00a0
the
\u00a0
statement
\u00a0
of
\u00a0
financial
\u00a0
position
\u00a0
causes
\u00a0
translation
differences,
\u00a0
which
\u00a0
are
\u00a0
recognised
\u00a0
in
\u00a0
equity
\u00a0
and
\u00a0
in
\u00a0
other
\u00a0
comprehensive
\u00a0
income
\u00a0
as
\u00a0
change.
\u00a0
Translation
differences
\u00a0
of
\u00a0
foreign
\u00a0
subsidiaries\u2019
\u00a0
acquisition
\u00a0
cost
\u00a0
eliminations
\u00a0
and
\u00a0
post-acquisition
\u00a0
profits
\u00a0
and
\u00a0
losses
\u00a0
are
recognised
\u00a0
in
\u00a0
other
\u00a0
comprehensive
\u00a0
income
\u00a0
and
\u00a0
are
\u00a0
presented
\u00a0
as
\u00a0
a
\u00a0
separate
\u00a0
item
\u00a0
in
\u00a0
equity.
\u00a0
The
\u00a0
goodwill
generated
\u00a0
in
\u00a0
the
\u00a0
acquisition
\u00a0
of
\u00a0
foreign
\u00a0
entities
\u00a0
and
\u00a0
their
\u00a0
fair
\u00a0
value
\u00a0
adjustments
\u00a0
of
\u00a0
assets
\u00a0
and
\u00a0
liabilities
\u00a0
are
considered
\u00a0
as
\u00a0
assets
\u00a0
and
\u00a0
liabilities
\u00a0
of
\u00a0
foreign
\u00a0
entities,
\u00a0
which
\u00a0
are
\u00a0
translated
\u00a0
into
\u00a0
euros
\u00a0
using
\u00a0
the
\u00a0
exchange
rates
\u00a0
prevailing
\u00a0
at
\u00a0
the
\u00a0
end
\u00a0
of
\u00a0
the
\u00a0
reporting
\u00a0
period.
\u00a0
When
\u00a0
a
\u00a0
foreign
\u00a0
subsidiary
\u00a0
is
\u00a0
sold,
\u00a0
the
\u00a0
accumulated
exchange
\u00a0
rate
\u00a0
differences
\u00a0
recognised
\u00a0
in
\u00a0
the
\u00a0
equity
\u00a0
related
\u00a0
to
\u00a0
the
\u00a0
subsidiary
\u00a0
are
\u00a0
recognised
\u00a0
in
\u00a0
the
\u00a0
statement
of
\u00a0
income
\u00a0
as
\u00a0
a
\u00a0
part
\u00a0
of
\u00a0
the
\u00a0
gain
\u00a0
or
\u00a0
loss
\u00a0
on
\u00a0
sale.
Transactions
\u00a0
and
\u00a0
balances
\u00a0
in
\u00a0
foreign
\u00a0
currencies
Transactions
\u00a0
denominated
\u00a0
in
\u00a0
a
\u00a0
foreign
\u00a0
currency
\u00a0
are
\u00a0
translated
\u00a0
into
\u00a0
the
\u00a0
functional
\u00a0
currency
\u00a0
using
\u00a0
the
exchange
\u00a0
rates
\u00a0
prevailing
\u00a0
at
\u00a0
the
\u00a0
dates
\u00a0
of
\u00a0
the
\u00a0
transactions.
\u00a0
Receivables
\u00a0
and
\u00a0
liabilities
\u00a0
are
\u00a0
translated
\u00a0
at
\u00a0
the
exchange
\u00a0
rates
\u00a0
prevailing
\u00a0
at
\u00a0
the
\u00a0
end
\u00a0
of
\u00a0
the
\u00a0
reporting
\u00a0
period.
\u00a0
Exchange
\u00a0
rate
\u00a0
gains
\u00a0
and
\u00a0
losses
\u00a0
related
\u00a0
to
trade
\u00a0
receivables
\u00a0
and
\u00a0
liabilities
\u00a0
are
\u00a0
reported
\u00a0
on
\u00a0
the
\u00a0
applicable
\u00a0
line
\u00a0
in
\u00a0
the
\u00a0
statement
\u00a0
of
\u00a0
income
\u00a0
and
\u00a0
are
included
\u00a0
in
\u00a0
the
\u00a0
operating
\u00a0
result.
\u00a0
Exchange
\u00a0
rate
\u00a0
differences
\u00a0
related
\u00a0
to
\u00a0
financial
\u00a0
assets
\u00a0
and
\u00a0
financial
\u00a0
liabilities
are
\u00a0
reported
\u00a0
as
\u00a0
financial
\u00a0
items
\u00a0
in
\u00a0
the
\u00a0
statement
\u00a0
of
\u00a0
income,
\u00a0
except
\u00a0
exchange
\u00a0
rate
\u00a0
differences
\u00a0
related
\u00a0
to
\u00a0
non-
current
\u00a0
debt
\u00a0
that
\u00a0
is
\u00a0
part
\u00a0
of
\u00a0
the
\u00a0
Group's
\u00a0
net
\u00a0
investment
\u00a0
in
\u00a0
a
\u00a0
subsidiary.
\u00a0
Those
\u00a0
are
\u00a0
recognised
\u00a0
in
\u00a0
other
comprehensive
\u00a0
income
\u00a0
and
\u00a0
reported
\u00a0
as
\u00a0
translation
\u00a0
differences
\u00a0
in
\u00a0
equity.
", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForForeignCurrencyTranslationExplanatory", "language": "en", "entity": "scheme:743700G7A9J1PHM3X223", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00" } }, "ID_100": { "value": "
Translating
\u00a0
the
\u00a0
transactions
\u00a0
in
\u00a0
foreign
\u00a0
currencies
The
\u00a0
items
\u00a0
included
\u00a0
in
\u00a0
the
\u00a0
financial
\u00a0
statements
\u00a0
are
\u00a0
initially
\u00a0
recognised
\u00a0
in
\u00a0
the
\u00a0
functional
\u00a0
currency,
\u00a0
which
\u00a0
is
defined
\u00a0
for
\u00a0
each
\u00a0
Group
\u00a0
company
\u00a0
based
\u00a0
on
\u00a0
its
\u00a0
primary
\u00a0
economic
\u00a0
environment.
\u00a0
The
\u00a0
presentation
\u00a0
currency
\u00a0
of
the
\u00a0
consolidated
\u00a0
financial
\u00a0
statements
\u00a0
is
\u00a0
the
\u00a0
euro,
\u00a0
which
\u00a0
is
\u00a0
also
\u00a0
the
\u00a0
functional
\u00a0
and
\u00a0
presentation
\u00a0
currency
\u00a0
of
W\u00e4rtsil\u00e4
\u00a0
Corporation.
", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForFunctionalCurrencyExplanatory", "language": "en", "entity": "scheme:743700G7A9J1PHM3X223", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00" } }, "ID_101": { "value": "
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
7.1.
\u00a0
COLLATERAL,
\u00a0
CONTINGENT
\u00a0
LIABILITIES,
\u00a0
AND
\u00a0
OTHER
\u00a0
COMMITMENTS
Accounting
\u00a0
principles
Contingent
\u00a0
liabilities
\u00a0
are
\u00a0
possible
\u00a0
obligations
\u00a0
resulting
\u00a0
from
\u00a0
previous
\u00a0
events,
\u00a0
the
\u00a0
existence
\u00a0
of
\u00a0
which
\u00a0
will
\u00a0
only
be
\u00a0
ascertained
\u00a0
once
\u00a0
the
\u00a0
uncertain
\u00a0
event
\u00a0
that
\u00a0
is
\u00a0
beyond
\u00a0
the
\u00a0
Group\u2019s
\u00a0
control
\u00a0
materialises.
\u00a0
Existing
obligations
\u00a0
that
\u00a0
are
\u00a0
not
\u00a0
likely
\u00a0
to
\u00a0
require
\u00a0
the
\u00a0
fulfilment
\u00a0
of
\u00a0
a
\u00a0
payment
\u00a0
obligation,
\u00a0
or
\u00a0
the
\u00a0
amount
\u00a0
of
\u00a0
which
\u00a0
cannot
be
\u00a0
reliably
\u00a0
determined,
\u00a0
are
\u00a0
also
\u00a0
considered
\u00a0
contingent
\u00a0
liabilities.
-
2023
2022
MEUR
Debt
\u00a0
in
\u00a0
the
\u00a0
statement
\u00a0
of
\u00a0
financial
\u00a0
position
Collateral
Debt
\u00a0
in
\u00a0
the
\u00a0
statement
\u00a0
of
\u00a0
financial
\u00a0
position
Collateral
Mortgages
\u00a0
given
\u00a0
as
\u00a0
collateral
\u00a0
for
\u00a0
liabilities
\u00a0
and
commitments
Other
\u00a0
commitments
21
10
4
10
Total
21
10
4
10
Chattel
\u00a0
mortgages
\u00a0
and
\u00a0
other
\u00a0
pledges
\u00a0
and
\u00a0
securities
given
\u00a0
as
\u00a0
collateral
\u00a0
for
\u00a0
liabilities
\u00a0
and
\u00a0
commitments
Other
\u00a0
commitments
13
17
Total
13
17
MEUR
\u00a0
2023
2022
Guarantees
\u00a0
and
\u00a0
contingent
\u00a0
liabilities
on
\u00a0
behalf
\u00a0
of
\u00a0
Group
\u00a0
companies
997
1
\u00a0
037
Total
997
1
\u00a0
037
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
Nominal
\u00a0
amounts
\u00a0
of
\u00a0
lease
\u00a0
liabilities
Low-value
\u00a0
lease
\u00a0
liabilities
12
11
Short-term
\u00a0
lease
\u00a0
liabilities
4
3
Leases
\u00a0
not
\u00a0
yet
\u00a0
commenced,
\u00a0
but
\u00a0
to
\u00a0
which
\u00a0
W\u00e4rtsil\u00e4
\u00a0
is
\u00a0
committed
14
14
Residual
\u00a0
value
\u00a0
guarantee
90
90
Total
120
118
", "dimensions": { "concept": "ifrs-full:DisclosureOfCommitmentsAndContingentLiabilitiesExplanatory", "language": "en", "entity": "scheme:743700G7A9J1PHM3X223", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00" } }, "ID_102": { "value": "
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
7.1.
\u00a0
COLLATERAL,
\u00a0
CONTINGENT
\u00a0
LIABILITIES,
\u00a0
AND
\u00a0
OTHER
\u00a0
COMMITMENTS
Accounting
\u00a0
principles
Contingent
\u00a0
liabilities
\u00a0
are
\u00a0
possible
\u00a0
obligations
\u00a0
resulting
\u00a0
from
\u00a0
previous
\u00a0
events,
\u00a0
the
\u00a0
existence
\u00a0
of
\u00a0
which
\u00a0
will
\u00a0
only
be
\u00a0
ascertained
\u00a0
once
\u00a0
the
\u00a0
uncertain
\u00a0
event
\u00a0
that
\u00a0
is
\u00a0
beyond
\u00a0
the
\u00a0
Group\u2019s
\u00a0
control
\u00a0
materialises.
\u00a0
Existing
obligations
\u00a0
that
\u00a0
are
\u00a0
not
\u00a0
likely
\u00a0
to
\u00a0
require
\u00a0
the
\u00a0
fulfilment
\u00a0
of
\u00a0
a
\u00a0
payment
\u00a0
obligation,
\u00a0
or
\u00a0
the
\u00a0
amount
\u00a0
of
\u00a0
which
\u00a0
cannot
be
\u00a0
reliably
\u00a0
determined,
\u00a0
are
\u00a0
also
\u00a0
considered
\u00a0
contingent
\u00a0
liabilities.
-
2023
2022
MEUR
Debt
\u00a0
in
\u00a0
the
\u00a0
statement
\u00a0
of
\u00a0
financial
\u00a0
position
Collateral
Debt
\u00a0
in
\u00a0
the
\u00a0
statement
\u00a0
of
\u00a0
financial
\u00a0
position
Collateral
Mortgages
\u00a0
given
\u00a0
as
\u00a0
collateral
\u00a0
for
\u00a0
liabilities
\u00a0
and
commitments
Other
\u00a0
commitments
21
10
4
10
Total
21
10
4
10
Chattel
\u00a0
mortgages
\u00a0
and
\u00a0
other
\u00a0
pledges
\u00a0
and
\u00a0
securities
given
\u00a0
as
\u00a0
collateral
\u00a0
for
\u00a0
liabilities
\u00a0
and
\u00a0
commitments
Other
\u00a0
commitments
13
17
Total
13
17
MEUR
\u00a0
2023
2022
Guarantees
\u00a0
and
\u00a0
contingent
\u00a0
liabilities
on
\u00a0
behalf
\u00a0
of
\u00a0
Group
\u00a0
companies
997
1
\u00a0
037
Total
997
1
\u00a0
037
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
Nominal
\u00a0
amounts
\u00a0
of
\u00a0
lease
\u00a0
liabilities
Low-value
\u00a0
lease
\u00a0
liabilities
12
11
Short-term
\u00a0
lease
\u00a0
liabilities
4
3
Leases
\u00a0
not
\u00a0
yet
\u00a0
commenced,
\u00a0
but
\u00a0
to
\u00a0
which
\u00a0
W\u00e4rtsil\u00e4
\u00a0
is
\u00a0
committed
14
14
Residual
\u00a0
value
\u00a0
guarantee
90
90
Total
120
118
", "dimensions": { "concept": "ifrs-full:DisclosureOfCollateralExplanatory", "language": "en", "entity": "scheme:743700G7A9J1PHM3X223", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00" } }, "ID_103": { "value": "
Accounting
\u00a0
principles
Contingent
\u00a0
liabilities
\u00a0
are
\u00a0
possible
\u00a0
obligations
\u00a0
resulting
\u00a0
from
\u00a0
previous
\u00a0
events,
\u00a0
the
\u00a0
existence
\u00a0
of
\u00a0
which
\u00a0
will
\u00a0
only
be
\u00a0
ascertained
\u00a0
once
\u00a0
the
\u00a0
uncertain
\u00a0
event
\u00a0
that
\u00a0
is
\u00a0
beyond
\u00a0
the
\u00a0
Group\u2019s
\u00a0
control
\u00a0
materialises.
\u00a0
Existing
obligations
\u00a0
that
\u00a0
are
\u00a0
not
\u00a0
likely
\u00a0
to
\u00a0
require
\u00a0
the
\u00a0
fulfilment
\u00a0
of
\u00a0
a
\u00a0
payment
\u00a0
obligation,
\u00a0
or
\u00a0
the
\u00a0
amount
\u00a0
of
\u00a0
which
\u00a0
cannot
be
\u00a0
reliably
\u00a0
determined,
\u00a0
are
\u00a0
also
\u00a0
considered
\u00a0
contingent
\u00a0
liabilities.
", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForFinancialGuaranteesExplanatory", "language": "en", "entity": "scheme:743700G7A9J1PHM3X223", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00" } }, "ID_104": { "value": "
Accounting
\u00a0
principles
Contingent
\u00a0
liabilities
\u00a0
are
\u00a0
possible
\u00a0
obligations
\u00a0
resulting
\u00a0
from
\u00a0
previous
\u00a0
events,
\u00a0
the
\u00a0
existence
\u00a0
of
\u00a0
which
\u00a0
will
\u00a0
only
be
\u00a0
ascertained
\u00a0
once
\u00a0
the
\u00a0
uncertain
\u00a0
event
\u00a0
that
\u00a0
is
\u00a0
beyond
\u00a0
the
\u00a0
Group\u2019s
\u00a0
control
\u00a0
materialises.
\u00a0
Existing
obligations
\u00a0
that
\u00a0
are
\u00a0
not
\u00a0
likely
\u00a0
to
\u00a0
require
\u00a0
the
\u00a0
fulfilment
\u00a0
of
\u00a0
a
\u00a0
payment
\u00a0
obligation,
\u00a0
or
\u00a0
the
\u00a0
amount
\u00a0
of
\u00a0
which
\u00a0
cannot
be
\u00a0
reliably
\u00a0
determined,
\u00a0
are
\u00a0
also
\u00a0
considered
\u00a0
contingent
\u00a0
liabilities.
", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForCollateralExplanatory", "language": "en", "entity": "scheme:743700G7A9J1PHM3X223", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00" } }, "ID_105": { "value": "
Accounting
\u00a0
principles
Contingent
\u00a0
liabilities
\u00a0
are
\u00a0
possible
\u00a0
obligations
\u00a0
resulting
\u00a0
from
\u00a0
previous
\u00a0
events,
\u00a0
the
\u00a0
existence
\u00a0
of
\u00a0
which
\u00a0
will
\u00a0
only
be
\u00a0
ascertained
\u00a0
once
\u00a0
the
\u00a0
uncertain
\u00a0
event
\u00a0
that
\u00a0
is
\u00a0
beyond
\u00a0
the
\u00a0
Group\u2019s
\u00a0
control
\u00a0
materialises.
\u00a0
Existing
obligations
\u00a0
that
\u00a0
are
\u00a0
not
\u00a0
likely
\u00a0
to
\u00a0
require
\u00a0
the
\u00a0
fulfilment
\u00a0
of
\u00a0
a
\u00a0
payment
\u00a0
obligation,
\u00a0
or
\u00a0
the
\u00a0
amount
\u00a0
of
\u00a0
which
\u00a0
cannot
be
\u00a0
reliably
\u00a0
determined,
\u00a0
are
\u00a0
also
\u00a0
considered
\u00a0
contingent
\u00a0
liabilities.
", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForContingentLiabilitiesAndContingentAssetsExplanatory", "language": "en", "entity": "scheme:743700G7A9J1PHM3X223", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00" } }, "ID_106": { "value": "
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
7.2.
\u00a0
RELATED
\u00a0
PARTY
\u00a0
DISCLOSURES
Related
\u00a0
parties
\u00a0
comprise
\u00a0
the
\u00a0
parent
\u00a0
company,
\u00a0
subsidiaries,
\u00a0
the
\u00a0
associated
\u00a0
companies,
\u00a0
and
\u00a0
joint
\u00a0
ventures.
Related
\u00a0
parties
\u00a0
also
\u00a0
include
\u00a0
the
\u00a0
Board
\u00a0
of
\u00a0
Directors,
\u00a0
the
\u00a0
President
\u00a0
and
\u00a0
CEO,
\u00a0
the
\u00a0
Board
\u00a0
of
\u00a0
Management,
\u00a0
their
family
\u00a0
members,
\u00a0
and
\u00a0
entities
\u00a0
controlled
\u00a0
directly
\u00a0
or
\u00a0
indirectly
\u00a0
by
\u00a0
them.
Management
\u00a0
remuneration
-
TEUR
2023
2022
President
\u00a0
and
\u00a0
CEO
Salaries
\u00a0
and
\u00a0
other
\u00a0
short-term
\u00a0
benefits
1
\u00a0
021
980
Short-term
\u00a0
incentive
\u00a0
schemes
443
Statutory
\u00a0
pension
\u00a0
costs
160
223
Voluntary
\u00a0
pension
\u00a0
costs
300
289
Other
\u00a0
members
\u00a0
of
\u00a0
the
\u00a0
Board
\u00a0
of
\u00a0
Management
Salaries
\u00a0
and
\u00a0
other
\u00a0
short-term
\u00a0
benefits
2
\u00a0
464
2
\u00a0
890
Short-term
\u00a0
incentive
\u00a0
schemes
853
Statutory
\u00a0
pension
\u00a0
costs
374
465
Voluntary
\u00a0
pension
\u00a0
costs
311
572
Total
4
\u00a0
631
6
\u00a0
714
Board
\u00a0
of
\u00a0
Directors
\u00a0
on
\u00a0
31
\u00a0
December
\u00a0
2023
Tom
\u00a0
Johnstone,
\u00a0
Chairman
224
231
Mika
\u00a0
Vehvil\u00e4inen,
\u00a0
Deputy
\u00a0
Chairman
110
Karen
\u00a0
Bomba,
\u00a0
member
97
101
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
Morten
\u00a0
H.
\u00a0
Engelstoft,
\u00a0
member
96
88
Karin
\u00a0
Falk,
\u00a0
member
92
96
Johan
\u00a0
Forssell,
\u00a0
member
92
95
Mats
\u00a0
Rahmstr\u00f6m,
\u00a0
member
87
91
Tiina
\u00a0
Tuomela,
\u00a0
member
112
116
Board
\u00a0
of
\u00a0
Directors,
\u00a0
until
\u00a0
9
\u00a0
March
\u00a0
2023
Risto
\u00a0
Murto,
\u00a0
member
2
126
Board
\u00a0
of
\u00a0
Directors,
\u00a0
until
\u00a0
3
\u00a0
March
\u00a0
2022
Maarit
\u00a0
Aarni-Sirvi\u00f6,
\u00a0
member
2
Total
910
944
Management
\u00a0
remuneration,
\u00a0
total
5
\u00a0
541
7
\u00a0
658
In
\u00a0
2023,
\u00a0
an
\u00a0
accrual
\u00a0
of
\u00a0
EUR
\u00a0
1,708
\u00a0
thousand
\u00a0
has
\u00a0
been
\u00a0
recognised
\u00a0
in
\u00a0
the
\u00a0
statement
\u00a0
of
\u00a0
income
\u00a0
as
\u00a0
employee
benefit
\u00a0
expenses
\u00a0
related
\u00a0
to
\u00a0
the
\u00a0
short-term
\u00a0
incentive
\u00a0
schemes
\u00a0
for
\u00a0
the
\u00a0
management.
Remuneration
\u00a0
of
\u00a0
the
\u00a0
President
\u00a0
and
\u00a0
CEO
\u00a0
consists
\u00a0
of
\u00a0
fixed
\u00a0
pay
\u00a0
(a
\u00a0
monthly
\u00a0
base
\u00a0
salary,
\u00a0
pension
\u00a0
and
\u00a0
benefits)
and
\u00a0
variable
\u00a0
pay
\u00a0
(short-
\u00a0
and
\u00a0
long-term
\u00a0
incentives).
\u00a0
Benefits
\u00a0
include
\u00a0
a
\u00a0
mobile
\u00a0
phone
\u00a0
benefit,
\u00a0
a
\u00a0
car
\u00a0
benefit,
\u00a0
and
various
\u00a0
insurance
\u00a0
policies.
The
\u00a0
holdings
\u00a0
of
\u00a0
W\u00e4rtsil\u00e4
\u00a0
shares
\u00a0
of
\u00a0
the
\u00a0
President
\u00a0
and
\u00a0
CEO,
\u00a0
and
\u00a0
the
\u00a0
members
\u00a0
of
\u00a0
the
\u00a0
Board
\u00a0
of
\u00a0
Directors
\u00a0
and
Board
\u00a0
of
\u00a0
Management
\u00a0
were
\u00a0
362,999
\u00a0
shares
\u00a0
(302,097)
\u00a0
at
\u00a0
year-end,
\u00a0
dividends
\u00a0
totalling
\u00a0
EUR
\u00a0
94
\u00a0
thousand
\u00a0
(70).
The
\u00a0
President
\u00a0
and
\u00a0
CEO
\u00a0
is
\u00a0
entitled
\u00a0
to
\u00a0
retire
\u00a0
on
\u00a0
reaching
\u00a0
63
\u00a0
years
\u00a0
of
\u00a0
age.
\u00a0
The
\u00a0
members
\u00a0
of
\u00a0
the
\u00a0
Board
\u00a0
of
Management
\u00a0
are
\u00a0
entitled
\u00a0
to
\u00a0
retire
\u00a0
on
\u00a0
reaching
\u00a0
the
\u00a0
statutory
\u00a0
retirement
\u00a0
age.
\u00a0
One
\u00a0
member
\u00a0
of
\u00a0
the
\u00a0
Board
\u00a0
of
Management
\u00a0
is
\u00a0
entitled
\u00a0
to
\u00a0
retire
\u00a0
earlier,
\u00a0
on
\u00a0
reaching
\u00a0
60
\u00a0
years
\u00a0
of
\u00a0
age.
\u00a0
The
\u00a0
Group
\u00a0
has
\u00a0
no
\u00a0
loan
\u00a0
receivables
\u00a0
from
the
\u00a0
executive
\u00a0
management
\u00a0
or
\u00a0
the
\u00a0
Board
\u00a0
of
\u00a0
Directors.
\u00a0
No
\u00a0
pledges
\u00a0
or
\u00a0
other
\u00a0
commitments
\u00a0
have
\u00a0
been
\u00a0
given
\u00a0
on
behalf
\u00a0
of
\u00a0
management
\u00a0
or
\u00a0
shareholders.
Business
\u00a0
transactions
\u00a0
with
\u00a0
the
\u00a0
associated
\u00a0
companies
\u00a0
and
\u00a0
joint
\u00a0
ventures
MEUR
2023
2022
Sales
\u00a0
to
\u00a0
the
\u00a0
associates
\u00a0
and
\u00a0
joint
\u00a0
ventures
43
25
Purchases
\u00a0
from
\u00a0
the
\u00a0
associates
\u00a0
and
\u00a0
joint
\u00a0
ventures
49
56
Receivables
\u00a0
from
\u00a0
the
\u00a0
associates
\u00a0
and
\u00a0
joint
\u00a0
ventures
10
7
Advances
\u00a0
paid
\u00a0
to
\u00a0
the
\u00a0
associates
\u00a0
and
\u00a0
joint
\u00a0
ventures
29
16
Payables
\u00a0
to
\u00a0
the
\u00a0
associates
\u00a0
and
\u00a0
joint
\u00a0
ventures
18
7
\u00a0
\n
Detailed
\u00a0
financial
\u00a0
information
\u00a0
on
\u00a0
the
\u00a0
associated
\u00a0
companies
\u00a0
and
\u00a0
joint
\u00a0
ventures
\u00a0
is
\u00a0
presented
\u00a0
in
\u00a0
Note
\u00a0
6.5.
Investments
\u00a0
in
\u00a0
associates
\u00a0
and
\u00a0
joint
\u00a0
ventures.
", "dimensions": { "concept": "ifrs-full:DisclosureOfRelatedPartyExplanatory", "language": "en", "entity": "scheme:743700G7A9J1PHM3X223", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00" } }, "ID_107": { "value": "
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
\u00a0
\n
7.3.
\u00a0
AUDITORS\u2019
\u00a0
FEES
\u00a0
AND
\u00a0
SERVICES
The
\u00a0
following
\u00a0
remuneration
\u00a0
was
\u00a0
paid
\u00a0
to
\u00a0
auditors
\u00a0
and
\u00a0
accounting
\u00a0
firms
\u00a0
for
\u00a0
audits
\u00a0
based
\u00a0
on
\u00a0
applicable
\u00a0
legislation
and
\u00a0
for
\u00a0
other
\u00a0
services.
In
\u00a0
2023,
\u00a0
the
\u00a0
AGM
\u00a0
appointed
\u00a0
the
\u00a0
audit
\u00a0
firm
\u00a0
PricewaterhouseCoopers
\u00a0
Oy
\u00a0
as
\u00a0
W\u00e4rtsil\u00e4
\u00a0
Corporation's
\u00a0
auditor.
PricewaterhouseCoopers
\u00a0
Oy
\u00a0
has
\u00a0
provided
\u00a0
non-audit
\u00a0
services
\u00a0
totalling
\u00a0
EUR
\u00a0
0.3
\u00a0
million
\u00a0
to
\u00a0
entities
\u00a0
of
\u00a0
W\u00e4rtsil\u00e4
Group.
\u00a0
These
\u00a0
services
\u00a0
included
\u00a0
tax
\u00a0
services
\u00a0
(EUR
\u00a0
0.1
\u00a0
million)
\u00a0
and
\u00a0
a
\u00a0
minor
\u00a0
amount
\u00a0
related
\u00a0
to
\u00a0
other
\u00a0
services.
-
2023
2022
MEUR
PwC
Others
PwC
Others
Audit
3,7
1,3
3,6
1,3
Tax
\u00a0
advisory
0,1
0,6
0,1
0,5
Other
\u00a0
services
0,2
0,0
0,0
0,0
Total
3,9
1,9
3,8
1,9
", "dimensions": { "concept": "ifrs-full:DisclosureOfAuditorsRemunerationExplanatory", "language": "en", "entity": "scheme:743700G7A9J1PHM3X223", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00" } }, "ID_108": { "value": "
7.4.
\u00a0
EVENTS
\u00a0
AFTER
\u00a0
THE
\u00a0
REPORTING
\u00a0
PERIOD
In
\u00a0
November
\u00a0
2023,
\u00a0
W\u00e4rtsil\u00e4
\u00a0
announced
\u00a0
its
\u00a0
plan
\u00a0
to
\u00a0
simplify
\u00a0
its
\u00a0
organisation
\u00a0
and
\u00a0
reporting
\u00a0
structure.
\u00a0
As
\u00a0
of
\u00a0
1
January
\u00a0
2024,
\u00a0
business
\u00a0
unit
\u00a0
Gas
\u00a0
Solutions
\u00a0
has
\u00a0
been
\u00a0
moved
\u00a0
from
\u00a0
Marine
\u00a0
Systems
\u00a0
to
\u00a0
Portfolio
\u00a0
Business,
\u00a0
as
well
\u00a0
as
\u00a0
business
\u00a0
units
\u00a0
Exhaust
\u00a0
Treatment
\u00a0
and
\u00a0
Shaft
\u00a0
Line
\u00a0
Solutions
\u00a0
from
\u00a0
Marine
\u00a0
Systems
\u00a0
to
\u00a0
Marine
\u00a0
Power.
Consequently,
\u00a0
Marine
\u00a0
Systems
\u00a0
no
\u00a0
longer
\u00a0
constitutes
\u00a0
an
\u00a0
organisational
\u00a0
unit
\u00a0
nor
\u00a0
a
\u00a0
reportable
\u00a0
segment.
Additionally,
\u00a0
W\u00e4rtsil\u00e4
\u00a0
Marine
\u00a0
Power
\u00a0
has
\u00a0
changed
\u00a0
its
\u00a0
name
\u00a0
to
\u00a0
W\u00e4rtsil\u00e4
\u00a0
Marine.
", "dimensions": { "concept": "ifrs-full:DisclosureOfEventsAfterReportingPeriodExplanatory", "language": "en", "entity": "scheme:743700G7A9J1PHM3X223", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00" } } } }