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Property Plant and Equipment (Tables)

12 Months Ended

Dec. 31, 2023

Property Plant and Equipment

Schedule of reconciliation of changes in property, plant and equipment

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​	​	​	​	​	​	​
​		​	​	Other fixtures	Assets under	​
EUR’000	​	Vessels	Dry Dock	and fittings	Construction	Total
Cost 2023	​
Beginning of financial year		282,282	9,261	536	356,163	648,242
Acquisition of businesses		296,536	171	599	144,219	441,525
Additions		227	—	3	73,169	73,399
Disposals		(8,002)	(291)	—	—	(8,293)
Exchange differences	​	(4,683)	(6)	(159)	(1,806)	(6,654)
31 December 2023		566,360	9,135	979	571,745	1,148,219
Accumulated depreciation and impairment
Beginning of financial year		39,570	2,023	445	—	42,038
Depreciation charge		20,847	1,637	19	—	22,503
Disposals		(5,722)	(108)	—	—	(5,830)
Impairment on disposal		5,000	—	—	—	5,000
Exchange differences	​	(968)	(4)	(152)	—	(1,124)
31 December 2023		58,727	3,548	312	—	62,587
Net book value		507,633	5,587	667	571,745	1,085,632

​

Due to business combination with Eneti, the Group’s property, plant, and equipment increased by EUR 441.5 million in 2023. This primarily comprised the Operating Vessels Wind Scylla and Wind Zaratan (EUR 205,879 and EUR 86,927, respectively) and the newbuilds under construction, the M-Class down payments for EUR 144 million.

​

​	​	​	​	​	​	​
​				Other fixtures	Assets under
EUR’000		Vessels	Dry Dock	and fittings	Construction	Total
Cost 2022
Beginning of financial year		258,148	1,983	536	158,734	419,401
Additions		15,105	5,281	—	208,455	228,841
Transfer from assets under construction		9,029	1,997	—	(11,026)	—
31 December 2022		282,282	9,261	536	356,163	648,242
Accumulated depreciation
Beginning of financial year		19,629	300	386	—	20,315
Depreciation charge		19,941	1,723	59	—	21,723
31 December 2022		39,570	2,023	445	—	42,038
Net book value		242,712	7,238	91	356,163	606,204

​

​

​	​	​	​	​	​	​
​		​	​	Other fixtures	Assets under
EUR’000	​	Vessels	Dry Dock	and fittings	Construction	Total
Cost 2021	​	​	​	​	​	​
Beginning of financial year		255,030	1,050	379	—	256,459
Additions		3,118	933	157	158,734	162,942
31 December 2021		258,148	1,983	536	158,734	419,401
Accumulated depreciation
Beginning of financial year		3,853	—	280	—	4,133
Depreciation charge		15,776	300	106	—	16,182
31 December 2021		19,629	300	386	—	20,315
Net book value		238,520	1,683	150	158,734	399,087

X

- Definition

The disclosure of detailed information about property, plant and equipment. [Refer: Property, plant and equipment]

+ References

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-Name IAS
-Number 16
-IssueDate 2023-01-01
-Paragraph 73
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-URIDate 2023-03-23

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- References

No definition available.

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