BUSINESS OPERATIONS AND VALUE CREATION
SUSTAINABILITY REPORT
FINANCIAL DEVELOPMENT
GOVERNANCE
Deferred tax assets and liabilities 2022
Charged to other comprehensive income
Charged to income statement
Translation differences Sold subsidiaries
EUR million
1 Jan 2022
31 Dec 2022
Deferred tax assets Pension obligations and provisions
3.8 3.4 4.8 2.2
-0.2
0.0
3.5 8.2 0.8 2.6 15.1 -5.7
Intercompany margins
4.9
-0.2
Unused tax loss carry-forwards Other temporary differences
-3.9
-0.1
0.3 1.2
0.1
Total
14.2 -5.8
-0.1 2.3 2.2
Netting against liabilities
-2.2 -1.0
Deferred tax assets in balance sheet
8.4
9.4
Deferred tax liabilities Pension obligations
3.3
0.0 19.1
-3.0
-0.2 -2.8
0.1
Depreciation differences and appropriations Other investments recognised at fair value
62.6 27.2
79.0 62.9
35.7 -0.5
Financial instruments
4.8
0.4 3.1 5.3
-0.7 -3.1 -0.1 -6.7
3.9
Net investments in foreign operations
Other temporary differences
4.1
-0.1 32.1
9.0
Total
102.0
27.8 -2.2 25.6
155.2
Netting against receivables
-5.8 96.2
2.3
-5.7
Deferred tax liabilities in balance sheet
32.1
-4.4
149.5
Deferred tax assets and liabilities 2021
Charged to other comprehensive income
Charged to income statement
Translation differences Sold subsidiaries
EUR million
1 Jan 2021
31 Dec 2021
Deferred tax assets Pension obligations and provisions
4.2 4.5 0.6 2.4
-0.2
0.0
0.0
-0.2
3.8 3.4 4.8 2.2
Intercompany margins
-1.2
0.1
Unused tax loss carry-forwards Other temporary differences
4.2
0.0 0.1 0.2 0.1 0.2
-0.3 2.5 -1.6
0.0 -0.1 0.0 0.0
Total
11.8 -4.3
-0.2
14.2 -5.8
Netting against liabilities
Deferred tax assets in balance sheet
7.5
0.9
-0.2
8.4
Deferred tax liabilities Pension obligations
1.3
-0.1 2.4
2.0
0.1
3.3
Depreciation differences and appropriations Other investments recognised at fair value
61.2 28.4
-0.6
-0.4
62.6 27.2
-1.2 -2.2
Financial instruments
6.7
0.3 0.1 -0.1 2.6 -1.6
0.0 -0.1 0.0 -0.6
4.8
Net investments in foreign operations
Other temporary differences
4.2
0.0 -1.4 0.0 -1.4
4.1
Total
101.8
-0.4
102.0
Netting against receivables
-4.3 97.5
0.1
-5.8 96.2
Deferred tax liabilities in balance sheet
1.0
-0.6
-0.4
The Group has recognised deferred tax assets related to operating loss carry-forwards for EUR 0.8 million in Germany. Management assesses that taxable profit will be available against which loss carry-forward can be utilised. The taxable loss carry-forwards of business operations, for which deferred tax assets have not been recognised due to uncertainty of amount or utilisation possibilities, amounted approximately to EUR 91 million (90) in Germany. The unrecognised deferred tax assets for these loss carry forwards is about EUR 29 million (29). Loss carry-forwards do not expire.
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