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

Contract Liabilities and Advances from Customers

v3.24.0.1
Contract Liabilities and Advances from Customers
 12 Months Ended
Dec. 31, 2023
Deferred income including contract liabilities [abstract]  
Contract liabilities and advances from customers

33. Contract liabilities and advances from customers

Contract liabilities and advances from customers are as follows:

 

 

At December 31,

 

 

At December 31,

 

 

 

2023

 

 

2022

 

 

 

(EUR thousand)

 

Contract Liabilities

 

 

22,306

 

 

 

14,847

 

Advances from customers

 

 

62,310

 

 

 

26,568

 

Total contract liabilities and advances from customers

 

 

84,616

 

 

 

41,415

 

 

 

 

 

 

 

Current

 

 

45,198

 

 

 

41,415

 

Non-current

 

 

39,418

 

 

 

—

 

 

Contract liabilities relate to ongoing customer-specific construction contracts of the Engineering Segment and of the In-vitro diagnostic business, which is part of the Biopharmaceutical and Diagnostic Solutions Segment. The Group has contract liabilities of EUR 22,306 thousand and EUR 14,847 thousand as at December 31, 2023 and December 31, 2022 respectively. Contract liabilities gross amounts to EUR 76,853 thousand (EUR 64,293 thousand in 2022), net of advance invoices issued of EUR 99,159 thousand (EUR 79,140 thousand in 2022).

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