Annual and transition report of foreign private issuers pursuant to Section 13 or 15(d)

Contract Liabilities and Advances from Customers

v3.22.4
Contract Liabilities and Advances from Customers
12 Months Ended
Dec. 31, 2022
Deferred income including contract liabilities [abstract]  
Contract liabilities and advances from customers

34. Contract liabilities and advances from customers

Contract liabilities and advances from customers are as follows:

 

 

 

At December 31,

 

 

At December 31,

 

 

 

2022

 

 

2021

 

 

 

(EUR thousand)

 

Contract Liabilities

 

 

14,847

 

 

 

18,771

 

Advances from customers

 

 

26,568

 

 

 

23,616

 

Total contract liabilities and advances from customers

 

 

41,415

 

 

 

42,387

 

 

 

 

 

 

 

 

Current

 

 

41,415

 

 

 

42,387

 

Non-current

 

 

 

 

 

 

Contract liabilities relate to ongoing customer-specific construction contracts of the Engineering System Division and of the In-vitro diagnostic business. The Group has contract net liabilities of EUR 14,847 thousand and EUR 18,771 thousand as at December 31, 2022 and December 31, 2021 respectively. Contract assets gross amounts to EUR 64,293 thousand (EUR 27,504 thousand in 2021), net of invoices issues of EUR 79,140 thousand (EUR 46,275 thousand in 2021).

Advances from customers relate to sales whose revenue are recognized at point in time.