Registration statement for securities of certain foreign private issuers

Property, plant and equipment

v3.22.1
Property, plant and equipment
12 Months Ended
Dec. 31, 2021
Text Block [Abstract]  
Property, plant and equipment
14. Property, plant and equipment
The movements in property, plant and equipment for the years ended December 31, 2021 and 2020 have been as
follows:
 
(in €‘000)
  
Chargers and
charging
infrastructure
 
 
Other
fixed
assets
 
 
Assets
under
construction
 
 
Total
 
Cost
     37,580        1,780        2,278        41,638  
Accumulated depreciation and impairment
     (8,170      (943      —          (9,113
Carrying amount at January 1, 2020
  
 
29,410
 
  
 
837
 
  
 
2,278
 
  
 
32,525
 
         
Movements in 2020
                                   
Additions
     —          62        14,004        14,066  
Disposals
     (1,773      —          —          (1,773
Depreciation
     (4,024      (285      —          (4,309
Depreciation of disposals
     421        —          —          421  
Impairments
     (466      —          —          (466
Reclassifications
     7,159        —          (7,159      —    
Carrying amount at December 31, 2020
  
 
30,727
 
  
 
614
 
  
 
9,123
 
  
 
40,464
 
         
Cost
     42,966        1,842        9,123        53,931  
Accumulated amortization and impairment
     (12,239      (1,228      —          (13,467
Carrying amount at December 31, 2020
  
 
30,727
 
  
 
614
 
  
 
9,123
 
  
 
40,464
 
         
Movements in 2021
                                   
Additions
     —          3        8,107        8,110  
Disposals
     (2,317      —          —           (2,317
Depreciation
     (5,417      (206      —           (5,623
Depreciation of disposals
     813        —          —           813  
Impairments
     (354      —          —           (354
Reversal of impairments
     381        —          —           381  
Reclassifications
     6,764        70        (6,764      70  
Carrying amount at December 31, 2021
  
 
30,597
 
  
 
481
 
  
 
10,466
 
  
 
41,544
 
Cost
     47,413        1,915        10,466        59,794  
Accumulated depreciation and impairment
     (16,816      (1,434      —          (18,250
Carrying amount at December 31, 2021
  
 
30,597
 
  
 
481
 
  
 
10,466
 
  
 
41,544
 
Impairments and reversals of impairments of chargers
In the consolidated statement of profit or loss for the year ended December 31, 2021, the Group recorded an impairment loss of €354 thousand (2020: €466 thousand, 2019: €272 thousand) for chargers that were underutilized and not performing as expected. The carrying amount of these chargers have been reduced to its recoverable amount.
In the consolidated statement of profit or loss for the year ended December 31, 2021, the Group recorded a reversal of impairment of €381 thousand (2020: € nil, 2019: € nil) for chargers for which an impairment loss was previously recognized that demonstrated an improvement in their utilization rate as at December 31, 2021. The impairment loss and reversal of impairment have been recorded within general and administrative expenses.
Refer to Note 3.2.2 for details on estimates and assumptions made with respect to the impairment and reversal of impairments of
non-financial
assets.
Government grants related to chargers and charging infrastructure
The Group has received government grants for the purchase of certain items of chargers and charging infrastructure. There are no unfulfilled conditions or contingencies attached to these grants.
The grants are recognized in the consolidated statement of profit or loss over the useful life of the depreciable assets by way of a reduced depreciation charge. The movements in government grants related to chargers and charging infrastructure for the years ended December 31, 2021 and 2020 have been as follows:
 
(in €‘000)
  
2021
    
2020
 
Opening balance at the beginning of the year
  
 
10,471
 
  
 
10,174
 
Received during the year
     1,702        3,181  
Released to the consolidated statement of profit or loss
     (2,545      (2,884
Closing balance at the end of the year
  
 
9,628
 
  
 
10,471
 
Purchase commitments
The Group’s purchase commitments for chargers and charging infrastructure are disclosed in Note 32. At the end of each reporting period presented, the Group did not have purchase commitments for other asset classes of property, plant and equipment.