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 .......... 3.7 | 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 66
View entire presentation