iLOQ-vuosikertomus 2018

Note 24

Provisions

EUR thousand 2018 2017
Non-current provision 314 245
Current provision 710 1,013
Total 1,024 1,258

The Group grants a warranty for the iLOQ products that it supplies. The Group incurs costs due to the repair, replacement, and maintenance measures performed on lock systems at the Group’s expense. The Group recognizes a warranty provision for these warranty repairs. The warranty provision is based on prior experience of faulty products.

 

EUR thousand Warranty provision
Warranty provision, Jan 1, 2018 1,258
Increase in the warranty provision during the financial period 314
Unwinding of warranty provisions (over 2 years) -128
Realized warranty expenses -420
Warranty provision, Dec 31, 2018 1,024
EUR thousand Warranty provision
Warranty provision, Jan 1, 2017 1,230
Increase in the warranty provision during the financial period 246
Unwinding of warranty provisions (over 2 years) -20
Realized warranty expenses -198
Warranty provision, Dec 31, 2017 1,258