JMH’s leases relate mostly to head office and vehicles rent contracts, with initial terms between 3 and 4 years. The lease agreements do not impose any covenants. Regarding the incremental borrowing rate used to measure lease liabilities, the weighted-average rate applied by JMH, as of 31 December 2023, was 5.46% (5.29% as of 31 December 2022).
11.1. Right-of-use assets
2023 |
|
Buildings |
|
Transport |
|
Total |
|---|---|---|---|---|---|---|
Gross amount |
|
|
|
|
|
|
Opening balance |
|
1,694 |
|
1,334 |
|
3,029 |
New contracts |
|
‐ |
|
501 |
|
501 |
Contracts update |
|
100 |
|
311 |
|
411 |
Contracts cancellation |
|
‐ |
|
(71) |
|
(71) |
Closing balance |
|
1,794 |
|
2,075 |
|
3,870 |
Depreciation and impairment losses |
|
|
|
|
|
|
Opening balance |
|
85 |
|
697 |
|
782 |
Increases |
|
339 |
|
417 |
|
756 |
Contracts cancellation |
|
‐ |
|
(70) |
|
(70) |
Closing balance |
|
424 |
|
1,044 |
|
1,468 |
Net value |
|
|
|
|
|
|
As at 1 January 2023 |
|
1,610 |
|
637 |
|
2,247 |
As at 31 December 2023 |
|
1,371 |
|
1,031 |
|
2,402 |
2022 |
|
Buildings |
|
Transport |
|
Total |
|---|---|---|---|---|---|---|
Gross amount |
|
|
|
|
|
|
Opening balance |
|
‐ |
|
1,343 |
|
1,343 |
New contracts |
|
1,694 |
|
300 |
|
1,994 |
Contracts update |
|
‐ |
|
14 |
|
14 |
Contracts cancellation |
|
‐ |
|
(323) |
|
(323) |
Closing balance |
|
1,694 |
|
1,334 |
|
3,029 |
Depreciation and impairment losses |
|
|
|
|
|
|
Opening balance |
|
‐ |
|
635 |
|
635 |
Increases |
|
85 |
|
381 |
|
466 |
Contracts cancellation |
|
‐ |
|
(319) |
|
(319) |
Closing balance |
|
85 |
|
697 |
|
782 |
Net value |
|
|
|
|
|
|
As at 1 January 2022 |
|
‐ |
|
708 |
|
708 |
As at 31 December 2022 |
|
1,610 |
|
637 |
|
2,247 |
11.2. Lease liabilities
2023 |
|
Current |
|
Non-current |
|
Total |
|---|---|---|---|---|---|---|
Opening balance |
|
730 |
|
1,507 |
|
2,237 |
Increases (new contracts) |
|
141 |
|
361 |
|
502 |
Payments |
|
(732) |
|
‐ |
|
(732) |
Transfers |
|
526 |
|
(526) |
|
‐ |
Contracts change/cancel |
|
211 |
|
199 |
|
410 |
Closing balance |
|
877 |
|
1,540 |
|
2,417 |
2022 |
|
Current |
|
Non-current |
|
Total |
|---|---|---|---|---|---|---|
Opening balance |
|
332 |
|
379 |
|
711 |
Increases (new contracts) |
|
469 |
|
1,525 |
|
1,994 |
Payments |
|
(479) |
|
‐ |
|
(479) |
Transfers |
|
396 |
|
(396) |
|
‐ |
Contracts change/cancel |
|
11 |
|
(1) |
|
10 |
Closing balance |
|
730 |
|
1,507 |
|
2,237 |
11.3. Expenses recognised in the income statement
The income statement includes the expenses referred below related with leases:
|
|
2023 |
|
2022 |
|---|---|---|---|---|
Depreciation of right-of-use assets |
|
|
|
|
Buildings and other constructions |
|
339 |
|
85 |
Transport equipment |
|
417 |
|
381 |
Subtotal |
|
756 |
|
466 |
|
|
|
|
|
Lease liabilities interests |
|
114 |
|
43 |
|
|
|
|
|
Gains/losses with contract cancellation |
|
‐ |
|
‐ |
|
|
|
|
|
Rents (note 3) |
|
|
|
|
Expense related with short term leases |
|
1,084 |
|
1,094 |
Expense related with low value assets leases |
|
29 |
|
36 |
Expenses related with non-lease component included in payments |
|
610 |
|
429 |
Subtotal |
|
1,723 |
|
1,559 |
|
|
|
|
|
Total |
|
2,593 |
|
2,068 |
The total cash outflow for leases in 2023 was €2,569 thousand (2022: €2,081 thousand).