Trade receivables and contract assets |
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| Trade Receivables And Contract Assets [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Trade receivables and contract assets |
21. Trade receivables and contract assets Trade receivables and contract assets are analyzed as follows:
Trade receivables are non-interest bearing and credit terms are generally 60 to 90 days. The Group is not exposed to significant concentration of third-party credit risk. Trade receivables breakdown by geographical area is shown below:
Trade receivables are stated net of an allowance for expected credit losses which has been determined in accordance with IFRS 9 amounting to EUR 6,704 thousand and EUR 6,656 thousand for 2024 and 2023 respectively:
Contract assets Contract assets relate to ongoing customer-specific construction contracts within the Engineering segment and from the In-vitro diagnostic and DDS business, which are part of the Biopharmaceutical and Diagnostic Solutions Segment. As such, the balances of this account vary and depend on the number of ongoing construction contracts at the end of the year. The Group had contract assets of EUR 168,515 thousand at December 31, 2024 and of EUR 172,580 thousand at December 31, 2023. Contract assets gross amounted to EUR 414,955 thousand (EUR 360,433 thousand at December 31, 2023), net of advance invoices issued of EUR 246,440 thousand (EUR 187,853 thousand at December 31, 2023). |
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