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 |