20. Provisions
|
As at 31-12-2024 |
As at 31-12-2023 |
|
|---|---|---|
|
Reorganization and restructuring |
0.7 |
0.3 |
|
Other |
3.5 |
4.4 |
|
Total |
4.2 |
4.7 |
Movements in provisions
|
Reorganization and restructuring |
Other |
Total |
|
|---|---|---|---|
|
As at 1 January 2024 |
0.3 |
4.4 |
4.7 |
|
Addition charged to result |
6.4 |
1.3 |
7.7 |
|
Release credited to result |
-0.1 |
-0.1 |
|
|
Withdrawal for intended purpose |
-6.0 |
-2.4 |
-8.4 |
|
Exchange rate differences |
0.3 |
0.3 |
|
|
As at 31 December 2024 |
0.7 |
3.5 |
4.2 |
|
Current |
0.7 |
0.7 |
|
|
Non-current |
3.5 |
3.5 |
Reorganization and restructuring
Restructuring provisions are recognized only when Corbion has a constructive obligation, which is when:
(i) there is a detailed formal plan that identifies the business or part of the business concerned, the location and number of employees affected, the detailed estimate of the associated costs, and the timeline; and
(ii) the employees affected have been notified of the plan’s main features.
Other
The other provisions relate mainly to loss-making contracts, legal disputes, and other litigation risks.