Disclosure Of Other Provisions, Contingent Liabilities And Contingent Assets [Text Block]
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2023-01-01 to 2023-12-31 |
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| Disclosure of other provisions, contingent liabilities and contingent assets [text block] |
Provisions
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| Disclosure of contingent liabilities [text block] |
Contingent losses from development contracts mainly relate to project developments with potential adverse margin expectations and rent guarantees given. The measurement is based on management’s expectations on sales, revenues for those projects, the completion stage for individual projects and rental status. During the reporting period, after utilisation of an amount of EUR 24,476 thousand, the remaining amount of EUR 23,628 thousand has been released and presented in other income. An amount of EUR 77,132 thousand has been added to the provisions based on updated management’s expectations. The balance of the provision for contingent losses from development contracts is short-term and hence does not include any interest component.
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