Investor Presentaiton
nuuday
Management review Financial statements Section 1
Section 2 Section 3
Section 4
Section 5
Section 6
Parent company
Statements
..........
3.7 | Provisions
(DKKm)
Restructuring
obligations
2022
Other
provisions
Provisions at 1 January
Provisions made
Provisions used (payments)
50
55
105
54
(72)
(1)
Reversal of unused provisio
(11)
Provisions at 31 December
32
43
Of which recognised through special
items in the income statement
30
2
BER ✖
54
(73)
(11)
75
105
Recognised as follows in the balance
sheet:
Non-current liabilities
6
13
43
49
61
Current liabilities
Total
26
26
44
32
43
75
105
Specification of how payments regarding provisions are recognised in
the statements of cash flow (DKKm)
Payments related to provisions
Cash flow related to special items
Total
Total
2021
80
135
(102)
(8)
53
2022
2021
(7)
(66)
(73)
(12)
(90)
(102)
Comments
Provisions for restructuring obli-
gations related primarily to redun-
dancy programmes. The majority
of the provisions for redundancy
programmes are expected to
result in cash outflows in the next
five years. The uncertainties
related primarily to the estimated
amounts and the timing of the
related cash outflows.
Other provisions related mainly to
onerous contracts and jubilee
benefits for employees as well as
decommissioning obligations. The
majority of these provisions are
not expected to result in cash
outflows in the next five years.
The uncertainties regarding oner-
ous contracts related to both tim-
ing and estimated amounts. The
uncertainties regarding jubilee
benefits related to both salary
and the number of employees
included.
Nuuday's total redundancy costs
included wages during the notice
period, severance pay, stand-off
pay, payments pursuant to the
Danish Salaried Employees Act,
social security contributions and
outplacement costs.
§ Accounting policies
Provisions are recognised when the
Group has a legal or constructive obliga-
tion arising from past events, it is proba-
ble that economic benefits must be
sacrificed to settle it, and the amount
can be estimated reliably.
Provisions for restructuring, etc. are
recognised when a final decision thereon
has been made before or on the balance
sheet date and has been announced to
the parties involved, provided that the
amount can be measured reliably. Provi-
sions for restructuring are based on a
defined plan, which means that the
restructuring commences immediately
after the decision has been made.
Provisions are measured at Manage-
ment's best estimate of the amount at
which the liability is expected to be set-
tled. Provisions are discounted if the
effect is material to the measurement
of the liability.
Nuuday Annual Report 2022
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