Note 6 Revenue Revenue from contracts with customers DETAILS OF REVENUE FOR THE PERIOD 1 JANUARY TO 31 DECEMBER 2022 Amounts in EUR thousand Fiven Norway Fiven Brazil Fiven Belgium Total Standard products 29 273 91 154 23 943 144 371 Specialties products 45 448 2 439 - 47 887 Total revenue 74 721 93 593 23 943 192 258 DETAILS OF REVENUE FOR THE PERIOD 1 JANUARY TO 31 DECEMBER 2021 Amounts in EUR thousand Fiven Norway Fiven Brazil Fiven Belgium Total Standard products 23 529 53 513 15 938 92 979 Specialties products 32 704 1 756 - 34 460 Total revenue 56 232 55 269 15 938 127 439 In Q2 2022 Fiven changed its internal determination of what is standard versus specialties products. The impact is an increased number of goods reported as standard, and 2021 reporting has been restated in the table above. Sales are recognized in income at the expected value of the consideration after deducting benefits to customers, mainly estimated bonus payments. At 31 December 2022 the accrued, unpaid volume discounts bonus was 117 kEUR compared to 155 kEUR at 31 December 2021. REVENUE FROM CONTRACTS WITH CUSTOMERS BASED ON CUSTOMER LOCATION: Amounts in EUR thousand 2022 2021 Europe 77 883 58 546 Asia 9 143 7 933 North America 29 718 18 678 South America 75 514 42 264 Other - 18 Total revenue 192 258 127 439 Fiven has several large customers, of which top 10 customers accounted for 48 percent of revenues in 2022 (2021: 48 percent). REVENUE FROM CONTRACTS WITH CUSTOMERS BASED ON CUSTOMER LOCATION: Amounts in EUR thousand 1 Jan-31 Dec 22 1 Jan-31 Dec 21 Realized portion of economic hedge power derivatives 15 141 - Gain on sale of property, plant and equipment 20 19 Other income 14 13 Total other income 15 174 32 In Norway Fiven enters into power contracts to hedge prices related to forecast future production needs. During 2022 Fiven sold power contracts that were in excess of forecast power needs which resulted in gains of EUR 15.1 million. Refer to note 23 for further information on derivative contracts. Fiven Annual Report 2022 46 Financial statements
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