Annual and transition report of foreign private issuers pursuant to Section 13 or 15(d)

Leases

v3.23.1
Leases
 12 Months Ended
Dec. 31, 2022
Disclosure of quantitative information about right-of-use assets [abstract]  
Leases Leases
17.1. Group as a lessee
Amounts recognized in the consolidated statement of financial position
The consolidated statement of financial position shows the following amounts relating to leases:
(in €‘000) December 31,
2022		 December 31,
2021
Right-of-use assets
Office buildings 11,684  9,886 
Cars 646  1,134 
Software 14,613  18,674 
Land permits 20,366  84 
Other 508  575 
Total 47,817  30,353 
Additions to the right-of-use assets for office buildings during 2022 were €2,912 thousand (2021: €259 thousand), which includes €1,594 thousand (2021: € nil) as a result of business combinations. Additions to the right-of-use assets for cars during 2022 were €179 thousand (2021: €144 thousand). Additions to the right-of-use assets for software during 2022 were € nil (2021: €20,308 thousand). Additions to the right-of-use assets for land permits during 2022 were €21,166 thousand (2021: € nil). This includes additions from business combinations of €11,055 thousand (2021: € nil) and additions from the
ordinary course of business of €10,110 thousand (2021: € nil). Additions to the right-of-use assets for other during 2022 were € nil (2021: €90 thousand).
(in €‘000) December 31,
2022		 December 31,
2021
Lease liabilities
Current
Office buildings 1,066  820 
Cars 553  604 
Software 4,406  4,002 
Land permits 1,191  32 
Other 64  62 
Total 7,280  5,520 
Non-current
Office buildings 11,105  9,423 
Cars 108  551 
Software 12,181  15,596 
Land permits 20,188  — 
Other 462  527 
Total 44,044  26,097 
Lease liabilities are effectively secured as the rights to the leased assets recorded in the consolidated financial statements revert to the lessor in the event of default.
Amounts recognized in the consolidated statement of profit or loss
The consolidated statement of profit or loss shows the following amounts relating to leases:
(in €‘000) 2022 2021 2020
Depreciation expenses right-of-use assets
Office buildings 1,114  893  682 
Cars 581  653  948 
Software 4,062  1,633  — 
Land permits 885  141  141 
Other 68  88  34 
Total 6,710  3,408  1,805 
Interest expenses on lease liabilities (included in finance costs)
Office buildings 281  216  241 
Cars 17  25  39 
Software 565  266  — 
Land permits 898  2  5 
Other 16  18  9 
Total 1,777  527  294 
During 2022 the expenses relating to variable lease payment recognized were €323 thousand (2021: €nil and 2020: €nil).
Total cash outflows for leases
The total cash outflows for leases were as follows:
(in €‘000) 2022 2021 2020
Office buildings 1,267  1,031  764 
Cars 602  675  974 
Software 4,404  1,774  — 
Land permits 657  94  176 
Other 78  168  39 
Total 7,008  3,742  1,953 
Decommissioning of charging sites
The Group has land permits in Germany and in the Netherlands. For some land permits, the Group is required to decommission charging equipment upon termination of the concession. In Germany, in most instances the charging equipment will become the property of the municipality and therefore there are no dismantling costs for the Group. In the Netherlands, in most instances the requester for termination will be required to pay for the dismantling costs which is not expected to be the Group. In other instances, it is expected that the sites will be continued at the end of the concession period. Therefore, any dismantling costs to be capitalized as part of right-of-use assets are considered to be immaterial as this only constitutes expenses to be incurred for recovering the charging equipment.
17.2. Group as a lessor
During the year ended December 31, 2021, the Group entered into a sublease rental agreement with a third party for one of its office buildings. In the consolidated statement of profit or loss for the year ended December 31, 2022, the Group recognized sublease rental income of €200 thousand (2021: €200 thousand, 2020: € nil).
Future minimum rentals receivable under non-cancellable sublease rental agreements classified as operating leases as at each reporting date, are as follows:
(in €‘000) December 31, 2022 December 31, 2021
Within one year 200  200 
After one year but not more than five years —  200 
More than five years —  — 
Total 200  400