8. Revenue from contracts with customers

Revenue recognized during the period related to the following:

Since the fiscal year of 2024, NORMA Group has reported revenues by customer industry: Mobility & New Energy (MNE), Industry Applications (IA) and Water Management (WM). Until the 2023 fiscal year, revenue was reported according to the Engineered Joining Technology (EJT) and Standardized Joining Technology (SJT) distribution channels. The customer industry MNE primarily corresponds to the distribution channel EJT reported in the previous year. The SJT distribution channel reported in the previous year is split into the IA and WM customer industries. The other revenues reported in the previous year, which were not allocated to any distribution channels, were primarily divided between the two customer industries MNE and IA.

Revenue is broken down into the following categories:

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

Revenue in 2024 includes ‘income’ from the reversal of reimbursement liabilities recognized in the previous period of EUR 1,783 thousand (2023: EUR 1,982 thousand).The reversals represent the difference between the recognized expected volume discounts and annual bonuses for customers in the previous period and the actual payment in the fiscal year as well as the differences from recognized deferred revenues from price negotiations with customers of NORMA Group that were not concluded in the previous year.

An analysis of revenues by region can be found in NOTE 30 – SEGMENT REPORTING.

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 381 thousand and EUR 854 thousand (2023: EUR 7 thousand and EUR 1,052 thousand respectively) are expected to be realized or fulfilled within the next twelve months. The contract liabilities from advance payments received of EUR 1,052 thousand recognized as of January 1, 2024, were recognized as revenue in the fiscal year, net of any sales taxes.