Revenue recognized during the period related to the following:

                 

Revenue by distribution channel

             

T072

EMEA

Americas

Asia-Pacific

Consolidated Group

2022

2021

2022

2021

2022

2021

2022

2021

363,480

332,048

215,370

171,718

119,907

116,898

698,757

620,664

121,165

126,568

355,181

282,444

58,923

55,258

535,269

464,270

4,547

3,774

3,691

2,596

750

603

8,988

6,973

 

489,192

462,390

574,242

456,758

179,580

172,759

1,243,014

1,091,907

Revenue in 2022 increased by EUR 151,107 thousand compared to fiscal year 2021. This equates to organic growth of 7.1%. Price increases for customers that were implemented in 2022 due to higher raw material and energy costs are the main reason for this development.

Positive currency effects, particularly in connection with the US dollar, slightly increased revenues.

     

Revenue by category

 

T073

2022

2021

1,233,321

1,085,366

370

215

1,466

872

7,857

5,454

 

1,243,014

1,091,907

Other revenue mainly consists of revenue from the sale of production residues in metal production.

Revenue in 2022 include income of EUR 1,323 thousand (2021: EUR 1,595 thousand) from the reversal of reimbursement liabilities recognized in the previous period. The reversals represent the difference between the expected volume discounts and annual bonuses recognized for customers in the previous period and the actual payment in the fiscal year.

For the analysis of sales by region, please refer to  NOTE 31. ‘SEGMENTREPORTING’.

 

Contract assets and liabilities

Contract assets represent revenues from development services rendered, which were realized based on the ratio of costs already incurred to the estimated total costs. The contract liabilities represent advance payments received for goods to be supplied by NORMA Group. Of the contract assets and liabilities, EUR 450 thousand and EUR 1,295 thousand (2021: EUR 849 thousand and EUR 427 thousand respectively) are expected to be realized or

settled within the next twelve months. The contract liabilities from advance payments received of EUR 427 thousand recognized as of January 1, 2022, were recognized as revenue in the fiscal year, net of any sales taxes.

Legend

These contents are part of the Non-financial Group Report and were subject to a separate limited assurance examination.