ANNUAL REPORT 2021
LUNDBECK
ANNUAL REPORT 2021
= CONTENTS
CONSOLIDATED FINANCIAL STATEMENTS
NOTES 8-10
8 RIGHT-OF-USE ASSETS AND LEASE LIABILITIES
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The maturity analysis of lease liabilities is provided in the table "Classification of and contractual maturity
dates for financial assets and financial liabilities" in note 19 Financial instruments.
Amounts recognized in profit or loss
Expenses relating to short-term leases, not capitalized
Depreciation of right-of-use assets, land and buildings
Interest expenses relating to lease liabilities
Total
2021
DKKm
2020
DKKm
2
2
9 INVENTORIES
83
85
7
8
92
95
Raw materials and consumables
Work in progress
2021
2020
Land and buildings
Cost at 1 January
DKKm
DKKm
Finished goods and goods for resale
Total
2021
2020
DKKm
DKKm
207
206
1,534
1,155
1,034
802
2,775
2,163
596
545
Effect of foreign exchange differences
14
(20)
Additions
45
34
Disposals during the year
(11)
(19)
Adjustments to right-of-use assets during the year
61
56
Cost at 31 December
705
596
Inventories recognized as cost of sales amounted to DKK 2,337 million (DKK 2,618 million in 2020).
Inventories of DKK 1,071 million at 31 December 2021 are expected to be recovered after more than 12
months (DKK 722 million in 2020).
Depreciation and impairment losses at 1 January
Effect of foreign exchange differences
Depreciation
Depreciation and impairment on disposals
Depreciation and impairment losses at 31 December
Carrying amount at 31 December
Development in lease liabilities
2021
Lease liabilities
Total lease liabilities
140
69
6
(6)
10 TRADE RECEIVABLES
83
85
(8)
(8)
221
140
Trade receivables
484
456
Writedowns
Trade receivables, net
Balance at
Non-cash
1 January
Cash outflow
flow
DKKm
DKKm
DKKm
Balance at
31 December
DKKM
Credit risks
493
(82)
128
493
(82)
128
539
539
2020
Lease liabilities
516
(83)
60
493
Total lease liabilities
516
(83)
60
493
The total cash outflow from recognized lease agreements amounted to DKK 89 million (DKK 91 million in
2020) and includes repayment of lease liabilities and interest.
2021
2020
DKKm
DKKm
2,484
2,579
(25)
(26)
2,459
2,553
Lundbeck's products are sold primarily to distributors of pharmaceuticals, pharmacies and hospitals. The
payment conditions for the customers, including credit periods and any payment of interest in case of non-
payment, vary, but are always based on industry practice in the relevant market. As a result of special trading
conditions in specific markets, the credit period may be up to approximately 200 days and for one customer
360 days. The weighted average credit period is approximately 50 days.View entire presentation