The movements in right-of-use assets were as follows:
|
2023 |
31 December 2022 |
New in consolidation |
Depreciation |
Additions |
Changes in lease period and other changes |
31 December 2023 |
|
x € 1 million |
||||||
|
Office buildings |
38.7 |
8.5 |
-9.8 |
0.2 |
3.3 |
40.9 |
|
Car fleet |
26.2 |
0.6 |
-13.9 |
26.5 |
0.6 |
40.0 |
|
Other equipment |
7.1 |
- |
-5.5 |
5.3 |
1.8 |
8.7 |
|
Total |
72.0 |
9.1 |
-29.2 |
32.0 |
5.7 |
89.6 |
|
2024 |
31 December 2023 |
New in consolidation |
Depreciation |
Additions |
Changes in lease period and other changes |
31 December 2024 |
|
x € 1 million |
||||||
|
Office buildings |
40.9 |
0.9 |
-10.7 |
13.5 |
1.4 |
46.0 |
|
Car fleet |
40.0 |
0.2 |
-17.0 |
27.5 |
-0.6 |
50.1 |
|
Other equipment |
8.7 |
- |
-7.9 |
6.8 |
2.3 |
9.9 |
|
Total |
89.6 |
1.1 |
-35.6 |
47.8 |
3.1 |
106.0 |
The amounts in the column headed ‘Changes in lease period and other changes’ are mainly related to extensions and indexations of office leases and adjustments in lease terms of other contracts.
The movement in the lease liabilities was as follows:
|
2023 |
31 December 2023 |
New in consolidation |
Additions |
Lease payments |
Interest |
Changes in lease period and other changes |
31 December 2024 |
|
x € 1 million |
|||||||
|
Office buildings |
38.1 |
8.5 |
0.2 |
-11.0 |
1.3 |
2.5 |
39.6 |
|
Car fleet |
26.7 |
0.6 |
26.5 |
-14.8 |
1.1 |
0.6 |
40.7 |
|
Other equipment |
7.5 |
- |
5.3 |
-6.1 |
0.4 |
2.5 |
9.6 |
|
Total |
72.3 |
9.1 |
32.0 |
-31.9 |
2.8 |
5.6 |
89.9 |
|
2024 |
31 December 2022 |
New in consolidation |
Additions |
Lease payments |
Interest |
Changes in lease period and other changes |
31 December 2023 |
|
x € 1 million |
|||||||
|
Office buildings |
39.6 |
0.9 |
13.5 |
-11.5 |
1.5 |
1.1 |
45.1 |
|
Car fleet |
40.7 |
0.2 |
27.5 |
-18.4 |
2.0 |
-0.8 |
51.2 |
|
Other equipment |
9.6 |
- |
6.8 |
-8.8 |
0.6 |
2.1 |
10.3 |
|
Total |
89.9 |
1.1 |
47.8 |
-38.7 |
4.1 |
2.4 |
106.6 |
The maturity of the lease liabilities (based on due dates of the lease instalments) per category of underlying asset was as follows:
|
31 December 2023 |
Total lease instalments payable |
< 1 year |
1-5 years |
> 5 years |
|
x € 1 million |
||||
|
Office buildings |
45.4 |
8.4 |
30.7 |
6.3 |
|
Car fleet |
42.9 |
15.9 |
26.9 |
0.1 |
|
Other equipment |
10.0 |
5.1 |
4.9 |
0.0 |
|
Total |
98.3 |
29.4 |
62.5 |
6.4 |
|
31 December 2024 |
Total lease instalments payable |
< 1 year |
1-5 years |
> 5 years |
|
x € 1 million |
||||
|
Office buildings |
51.4 |
9.8 |
34.5 |
7.1 |
|
Car fleet |
53.5 |
18.8 |
34.7 |
0.0 |
|
Other equipment |
12.0 |
6.2 |
5.5 |
0.3 |
|
Total |
116.9 |
34.8 |
74.7 |
7.4 |
As per the reporting date, the Group is committed to meeting future lease obligations that are still outstanding. This amounted to approximately € 18 million (2023: € 11 million), primarily for lease cars that are still on order.
The office building category in particular includes extension options, for which any future cash flows have not been included in the measurement of the lease liabilities because the Group is not reasonably certain that it will exercise the options.
The interest expenses on the lease liabilities amounted to € 4 million in 2024 (2023: € 3 million).
The lease instalments payable of leases that have not been capitalised based on the practical expedient for short-term leases and leases with a low value are recognised in the operating expenses pro rata (on a time basis) over the lease period. The expenses for such non-capitalised leases amounted to € 129 million in 2024 (2023: € 109 million). This was largely related to the short-term leasing of equipment for projects.
The total cash outflow relating to lease agreements amounted to € 169 million (2023: € 143 million), including the cash flows for the aforementioned non-capitalised leases and the interest and principal cash flows for capitalised leases.
The weighted average marginal interest rate used to determine the liability was 4% (2023: 4%).