Investor Presentaiton slide image

Investor Presentaiton

nuuday Management review Financial statements Section 1 Section 2 Section 3 Section 4 Section 5 Section 6 Parent company Statements .......... 3.5 | Contract assets and liabilities 3.6 | Prepaid expenses (DKKm) 2022 2021 1 January 2021 § Assets recognised from costs to obtain a contract (SAC) 248 204 Assets recognised from costs to fulfil a contract 55 23 Assets recognised from costs to fulfil contracts with Group companies Total contract assets 212 14 373 335 676 562 263 489 Deferred subscription income 2,191 2,150 2,149 Work in progress for the account of third parties, liabilities 5 17 Total contract liabilities 2,196 2,167 2,194 Comments Of the deferred subscription income, DKK 30m (2021: DKK 38m) will be rec- ognised as income after more than one year. Revenue recognised in 2022 that was included in deferred subscription income at the beginning of the period amounted to DKK 2,108m (2021: DKK 2,102m). Costs recognised in 2022 that were included in assets recognised from costs to obtain a contract (SAC) at the beginning of the period amounted to DKK 123m (2021: DKK 132m). Assets to fulfil a contract at the beginning of the period DKK 86m (2021 DKK 61m) were recog- nised as costs in 2022. Of the assets recognised from costs to obtain a contract (SAC), DKK 108m (2021 DKK 82m) and DKK 314m (2021: DKK 269m) of costs to fulfil a contract will be recognised as costs after more than one year. 45 Accounting policies Subscriber acquisition costs and fulfilment costs The most common subscriber acquisition costs are dealer commissions. Subscriber acquisition costs and fulfilment costs are capitalised and recognised as expenses in external expenses and personnel expenses over the expected term of the related customer relationship. The term is estimated using historical customer churn rates. Change of management estimates may have a significant impact on the amount and timing of the expenses for any period. Deferred subscription income recognised as a liability comprises payments re- ceived from customers covering income in subsequent years. Comments Total prepaid expenses amounted to DKK 636m (2021: DKK 607m) of which DKK 269m (2021: DKK 280m) related to group companies. Nuuday Annual Report 2022 65
View entire presentation