Catom Annual Report 2022 EN

obligation. In determining the total transaction price, the amount of any variable consi deration to be recognised is determined by making an estimate. Caution is applied in making that estimate. Revenue arising from performance obligations to deliver goods is recognised when all significant rights and rewards and all significant risks and rewards have been transferred to the customer. The cost of these goods is allocated to the same period. 3.2.2 Provision of services Revenue arising from commitments to provide services is recognised in proportion to the stage of completion of the work performed, based on the proportion that the costs incurred for the provision of services up to the balance sheet date bear to the estimated cost of the total services to be provided. The cost of the services performed is allocated to the same period. 3.3. Currency differences Currency differences that occur upon settlement or translation of monetary items are accounted for in the profit and loss account in the period in which they occur. 3.4. Net turnover Net turnover comprises the revenue from the delivery of goods and services, less discounts and value-added tax, and after elimination of intercompany transactions. 3.5. Cost of raw materials and consumables Cost of raw materials and consumables is defined as the direct cost of the goods sold and services rendered that is attributable to the turnover. 3.6. Other operating expenses Other operating expenses is defined as the expenses recognised in the year that are not directly attributable to the cost of the goods delivered. 3.7. Depreciation of tangible and amortisation of intangible fixed assets Intangible fixed assets including goodwill are amortised, and tangible fixed assets are depreciated, on a straight-line basis over the expected useful life of the asset, starting from the date on which the asset is taken into use. Land is not depreciated.

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