EUR thousand | 2019 | 2018 |
Non-current provision | 460 | 314 |
Current provision | 314 | 710 |
Total | 774 | 1,024 |
The Group grants a warranty on the iLOQ products it delivers. The Group incurs costs for the repair, replacement and maintenance of locking systems, which are carried out at the Group’s expense. The Group recognizes a warranty provision for these warranty repairs. The warranty provision is based on previous years’ experience of defective products.
EUR thousand | Warranty provision | |
Warranty provision on 1 January 2019 | 1,024 | |
Increase of warranty provision during the period | 460 | |
Cancellation of warranty provision (over 2 years) | -407 | |
Realized warranty costs | -303 | |
Warranty provision on 31 December 2019 | 774 | |
EUR thousand | Warranty provision | |
Warranty provision 1 January 2018 | 1,258 | |
Increase of warranty provision during the period | 314 | |
Cancellation of warranty provision (over 2 years) | -128 | |
Realized warranty costs | -420 | |
Warranty provision on 31 December 2018 | 1,024 |