Catom Annual Report 2023 EN

If two or more commitments to provide goods or services included in a contract are not separately distinguishable, the commitments are combined to form a combination of goods or services that are collectively distinguishable from other commitments in the contract. In the case of multiple performance obligations in a contract, the total transaction price is allocated to the performance obligations in proportion to the value of the performance obligations. This allocation is based on the independent selling price for each performance obligation. In determining the total transaction price, the amount of any variable consi deration to be recognized is determined by making an estimate. Caution is applied in making that estimate. Revenue arising from performance obligations to deliver goods is recognized 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 recognized 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.

71