Assets
| Type | Time | Amount | Unit |
|---|---|---|---|
| ifrs-full:Assets | 2023-12-31 | 194295000 | vDKK |
| ifrs-full:Assets | 2022-12-31 | 193968000 | vDKK |
Revenue
| Type | Start date | End date | Amount | Unit |
|---|---|---|---|---|
| ifrs-full:Revenue | 2023-01-01 | 2023-12-31 | 182674000 | vDKK |
| ifrs-full:Revenue | 2022-01-01 | 2022-12-31 | 158628000 | vDKK |
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<mrv:CorporateGovernanceReport contextRef="ctx1" id="fact1013" xml:lang="en">CORPORATE GOVERNANCE The Company's Board of Directors recognizes the importance of good Corporate Governance. This is ensured through interaction between shareholders, the Board of Directors, and the admin- istration. Napatech's goal is that all interested parties are confi- dent that the group's activities are carried out acceptably and that the governing body has sufficient insight and influence to undertake their functions. The communication between the Company and shareholders primarily takes place at the annual general meeting, quarterly reporting, and via company announcements. The company shareholders are encouraged to subscribe to our newsletter ser- vice to receive company news via email. Guidelines on Corporate Governance are approved annually by the Board of Directors or when deemed necessary. Napatech A/S is subject to Danish law but is listed on Euronext Oslo. Napatech follows the Danish recommendations for good Corporate Governance. The Company follows the majority of the Danish recommendations for good Corporate Governance ex- cept for a few areas where Napatech has chosen a different ap- proach compared to the recommendations. The statutory report on Corporate Governance is available at http://www.na- patech.com/corporate-governance/report2023. The Board of Directors has established two committees within the Board; the Remuneration Committee and the Audit Commit- tee, which both are sub-committees of the Board (the Board committees report to the Board of Directors) and operate ac- cording to the established internal procedures for each commit- tee decided by the Board of Directors. The Remuneration Committee is composed of two members of the Board of Directors. Thomas E. Bonnerud is the Chairman of the Remuneration Committee, and Beth Topolovsky is a mem- ber. The Remuneration Committee handles the Company's remuner- ation policy and program and presents recommendations to the Board of Directors for decision according to its meeting proto- cols and underlying material prepared. The committee annually evaluates the CEO's remuneration and presents recommenda- tions to the Board of Directors for a decision. When the Compa- ny's remuneration policy proposes a change, it is subject to ap- proval in the annual general meeting. The committee has pre- pared a separate Remuneration Report to be presented at the annual general meeting. The remuneration report provides an overview of the total remuneration received by each member of the Board of Directors and the executive management board of Napatech. The report is available at http://www.na- patech.com/remuneration/report2023. The Audit Committee is composed of two members of the Board of Directors. Howard Bubb is the Chairman of the committee, and Christian Jebsen is a member. This committee supports the Board of Directors in fulfilling its responsibilities, concerning fi- nancial reporting, auditing matters, internal control, and risk matters. The Audit Committee has two meetings per year with the company auditors. The Company's Board of Directors shall have a diverse composi- tion and competence tailored to meet the Company's needs. The Board of Directors' work complies with the Company's internal instructions, guidelines, and procedures for the Board members. The Board normally also carries out a self-assessment of its ac- tivities and competence. The Board of Directors held 19 board meetings in 2023, 4 of which were for the approval of the quarterly reporting and presentations. The Company's corporate governance guidelines, including the annual Corporate Governance status, can be found in the inves- tor relations section www.napatech.com/investor-relations.</mrv:CorporateGovernanceReport>
<mrv:StatementOfCorporateSocialResponsibility contextRef="ctx1" id="fact1079" xml:lang="en">CORPORATE SOCIAL RESPONSIBILITY Napatech is keen to comply with the Responsible Business Alli- ance (RBA), formerly the Electronic Industry Citizenship Coalition (EICC), Code of Conduct that establishes standards to ensure that working conditions in the electronics industry or industries in which electronics is a key component, and its supply chains are safe, that workers are treated with respect and dignity, and that business operations are environmentally responsible and conducted ethically. The Napatech RBA (EICC) conformance statement is available upon request through the company web- site. Companies in the group do not generate higher levels of direct pollution or emissions than those that are normal for a company in the industry. The working environment is considered to be good, and the general well-being in the workplace is high. At Napatech, we assign resources to ensure compliance with the constantly changing legislation. We make sure that working con- ditions are safe and that our employees are treated with fair- ness, respect, and dignity. Any form of corruption, extortion, or embezzlement is strictly prohibited. No bribes or improper advantages are offered or ac- cepted. Compliance with RBA's Code of Conduct is a matter of course. We have never received a single fine or penalty regard- ing a corporate, employee, or environmental issue. We are committed to conducting business operations in an en- vironmentally responsible and ethical manner and have estab- lished a Conflict Mineral policy intending to only use tin, tanta- lum, tungsten, and gold (3TG), as well as cobalt, that originates from conflict-free sources. All components are screened towards the Responsible Minerals Initiative (RMI) smelter database, and the actual screening is outsourced to GreenSoft Technology. Since 2018, our products have all been 100% conflict-free. We are proud to have maintained this position throughout 2023. Our commitment to achieving 100% conflict-free products is sup- ported by our membership in RMI. Napatech's Corporate Social Responsibility policy is available at www.napatech.com/investor-relations/corporate-governance, and our CSR report for 2023 regarding Section 99a of the Danish Financial Statements Act on corporate social responsibility is available on http://www.napatech.com/csr/report2023. OUR PRODUCTS Our products are assembled by contract manufacturers that share our ambitions for social responsibility. We investigate each component regularly, as declared in our conformance declara- tion with the EU RoHS directive and the REACH regulation. Our products comply with EU directives and carry the CE- mark, as declared in our EU declaration of conformity. They carry the UL mark for recognized components, and they are manufactured under UL's inspection and follow-up service, ensuring that safety-critical components are authenticated and handled ac- cording to UL's procedures. OUR ENVIRONMENT The group's main impact on the environment is through the con- sumption of electricity and the usage of the group's petrol- driven cars. Most emissions are scope 2 and 3 emissions, except for the emissions from the company fleet. The only greenhouse gas emission that Napatech has and accounts for is carbon diox- ide. Napatech has its internal environmental policies, which oblige the group to take reasonable steps to reduce the environmental impact.</mrv:StatementOfCorporateSocialResponsibility>
<mrv:StatementOfTheDiversityPolicies contextRef="ctx1" id="fact1217" xml:lang="en">The group has a diversification strategy and has, in the Danish headquarters, employed more than 10 different nationalities. Salaries, positions, and duties are determined based on qualifi- cations and experience.</mrv:StatementOfTheDiversityPolicies>
<mrv:StatementOfPolicyForDataEthics contextRef="ctx1" id="fact1140" xml:lang="en">DATA ETHICS POLICY In compliance with the requirements under section 99(d) of the Danish Financial Statements Act, Napatech has implemented a data ethics policy. Napatech complies with both Danish and EU laws on data and privacy protection, and we recognize that thoughtful and responsible decision-making guided by internal policies can be needed as laws and regulations sometimes do not necessarily provide clear ethical guidance. Napatech wants to be perceived as a respected, competent, and proper business partner who complies with current legislation and follows developments in good data ethics. We aspire to treat all the data we produce as part of our daily operations ethically and responsibly, and our approach to the handling of data is based on three key principles: trust, integrity, and security. Napatech uses and processes data, both nonpersonal data and personal data. We collect data regarding Napatech employees for administrative purposes and contact details on customers and their employees so we can deliver our consultancy services. We also collect data from our webpage mainly for marketing purposes and data directly from our customers when we create customer accounts in our systems. To earn the trust of our customers, employees, and sharehold- ers, we process all data with the utmost respect for the sensitiv- ity of the data and any privacy rights. We do not buy or sell cus- tomer data to third parties, and we do not use artificial intelli- gence and machine learning in the analysis of any data. Making sure that our processing activities and security measures match the requirements for the data we are handling, we always apply our standards for data ethics to the way we work, whether we process personal data or other types of data.</mrv:StatementOfPolicyForDataEthics>
<mrv:StatementOfTargetFiguresAndPoliciesForTheUnderrepresentedGender contextRef="ctx1" id="fact1170" xml:lang="en">OUR EMPLOYEES Napatech's 77 full-time employees, as of December 31st, 2023, include 8 women (10%), compared to 9 (11%) in 2022. The group primarily employs engineers, and as women are underrepre- sented among engineers, it is considered an obvious conse- quence that women are underrepresented in Napatech. REPORT ON GENDER DISTRIBUTION IN MANAGEMENT In accordance with section 99b of the Danish Financial State- ments Act the gender distribution in management is as follows: As of December 31, 2023 The supreme governing board in Napatech consists of the Board of Directors, which, on December 31, 2023, included 5 men and 1 woman (17%). The Board of Directors has a long-term goal to have at least 25% of women on the Board by 2026. The Nomina- tion Committee has been instructed to actively look for suitable female candidates for additions to the Board. In 2023, 2 new board members were elected, 1 male and 1 fe- male. As the best candidate for the position will always be cho- sen, it has not been possible to meet the previous target of 20% of women on the Board before 2024, and the target has there- fore been changed. However, today, the Board of Directors con- sists of 4 men and 1 woman (20%). Other management consists of the two levels of management, which are below the supreme governing board. In Napatech, the first level of management consists of the executive management and the rest of the management team, see the Board and Man- agement presentation. The second level of management con- sists of the persons with managerial responsibilities who refer directly to the first level of management. On December 31, 2023, the first level of management consisted of 4 persons, all male and the second level of management con- sisted of 9 persons, all male. In total, other management con- sisted of 13 men and 0 women (0%). Since women are signifi- cantly underrepresented in the workforce, the group is recruit- ing within, and it has been difficult to raise the presence of women in other management. It is the group's policy over time to increase the presence of women in other management to at least 20% by 2026. In the re- cruiting process, the company aims for at least one of the last three candidates to be female. However, the best candidate for a specific position will always be chosen. Napatech wants to increase the presence of women throughout the organization, both in management and in general. In order to attract more female applicants, our efforts are focused on im- proving work-life balance. It is, however, always the candidate who is deemed best suited for a position that will be offered the position.</mrv:StatementOfTargetFiguresAndPoliciesForTheUnderrepresentedGender>
<sob:StatementByExecutiveAndSupervisoryBoards contextRef="ctx1" id="fact1221" xml:lang="en">STATEMENT BY THE EXECUTIVE MANAGEMENT AND THE BOARD OF DIRECTORS ON THE ANNUAL REPORT The Board of Directors and the Executive Board have today discussed and approved the annual report of Napatech A/S for 2023. The annual report has been prepared in accordance with IFRS Accounting Standards, as adopted by the EU, and additional requirements of the Danish Financial Statements Act. In our opinion, the consolidated financial statements and the parent company financial statements give a true and fair view of the financial position of the Group and the Parent Company at 31 December 2023 and of the results of their operations and cash flows for the financial year 1 January â 31 December 2023. Further, in our opinion, the Management's review gives a fair review of the development in the Group's and the Parent Company's activities and financial matters, results for the year, cash flows and financial position as well as a description of material risks and uncertainties that the Group and the Parent Company face. In our opinion, the Annual Report of Napatech A/S for the financial year 1 January to 31 December 2023 with the file name Napatech-2023-12-31-en.zip has been prepared, in all material respects, in compliance with the ESEF Regulation. We recommend that the annual report be approved at the annual general meeting.</sob:StatementByExecutiveAndSupervisoryBoards>
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<sob:DateOfApprovalOfAnnualReport contextRef="ctx1" id="fact1239">2024-03-21</sob:DateOfApprovalOfAnnualReport>
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<cmn:NameAndSurnameOfMemberOfSupervisoryBoard contextRef="ctx43" id="fact1793" xml:lang="en">Danny Lobo</cmn:NameAndSurnameOfMemberOfSupervisoryBoard>
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<arr:IndependentAuditorsReportsAudit contextRef="ctx1" id="fact1240" xml:lang="en">INDEPENDENT AUDITORSâ REPORT TO THE SHAREHOLDERS OF NAPATECH A/S</arr:IndependentAuditorsReportsAudit>
<arr:OpinionOnAuditedFinancialStatements contextRef="ctx1" id="fact1243" xml:lang="en">Opinion We have audited the consolidated financial statements and the parent company financial statements of Napatech A/S for the financial year 1 January â 31 December 2023, which comprise income statement, statement of comprehensive income, balance sheet, statement of changes in equity, cash flow statement and notes, including material accounting policy information, for the Group and the Parent Company. The consolidated financial statements and the parent company financial statements are prepared in accordance with IFRS Accounting Standards as adopted by the EU and additional requirements of the Danish Financial Statements Act. In our opinion, the consolidated financial statements and the parent company financial statements give a true and fair view of the financial position of the Group and the Parent Company at 31 December 2023 and of the results of the Group's and the Parent Company's operations and cash flows for the financial year 1 January â 31 December 2023 in accordance with IFRS Accounting Standards as adopted by the EU and additional requirements of the Danish Financial Statements Act. Our opinion is consistent with our long-form audit report to the Audit Committee and the Board of Directors.</arr:OpinionOnAuditedFinancialStatements>
<arr:DescriptionOfQualificationsOfAuditedFinancialStatements contextRef="ctx1" id="fact1256" xml:lang="en">Basis for opinion We conducted our audit in accordance with International Standards on Auditing (ISAs) and additional requirements applicable in Denmark. Our responsibilities under those standards and requirements are further described in the "Auditor's responsibilities for the audit of the consolidated financial statements and the parent company financial statements" (hereinafter collectively referred to as "the financial statements") section of our report. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion. Independence We are independent of the Group in accordance with the International Ethics Standards Board for Accountants' International Code of Ethics for Professional Accountants (IESBA Code) and the additional ethical requirements applicable in Denmark, and we have fulfilled our other ethical responsibilities in accordance with these requirements and the IESBA Code. To the best of our knowledge, we have not provided any prohibited non-audit services as described in article 5(1) of Regulation (EU) no. 537/2014. Appointment of auditor We were initially appointed as auditor of Napatech A/S on 29 April 2014 for the financial year 2014. We have been reappointed annually by resolution of the general meeting for a total consecutive period of 10 years up until the financial year 2023.</arr:DescriptionOfQualificationsOfAuditedFinancialStatements>
<arr:KeyAuditMattersAudit contextRef="ctx1" id="fact1273" xml:lang="en">Key audit matters Key audit matters are those matters that, in our professional judgement, were of most significance in our audit of the financial statements for the financial year 2023. These matters were addressed during our audit of the financial statements as a whole and in forming our opinion thereon. We do not provide a separate opinion on these matters. For each matter below, our description of how our audit addressed the matter is provided in that context. We have fulfilled our responsibilities described in the "Auditor's responsibilities for the audit of the financial statements" section, including in relation to the key audit matters below. Accordingly, our audit included the design and performance of procedures to respond to our assessment of the risks of material misstatement of the financial statements. The results of our audit procedures, including the procedures performed to address the matters below, provide the basis for our audit opinion on the financial statements. Recognition and valuation of capitalized development projects Development projects mainly comprise hardware and software development. The Group capitalizes eligible development projects upon meeting the criteria as described in IAS 38. This includes whether the development projects are clearly defined and identifiable and if technical feasibility, sufficient resources, and probable future economic benefits can be demonstrated. The recognition and measurement of capitalized development projects require internal procedures and significant management judgements and assumptions, which in nature are uncertain and increases the inherent risk of misstatements. Management monitors the expected value-in-use of development projects in progress and evaluates the carrying amount of completed development projects for indications of impairment. Development projects in progress and completed projects are tested for impairment at least annually, based on the strategy plan approved by Management and value-in-use calculations on expected future cash flows. Recognition and valuation of capitalized development costs is significant to our audit due to the carrying values as well as the management judgement involved in the assessment of the carrying values, basis for capitalization of development costs and judgements involved in impairment testing of the capitalized development costs. Refer to note 14 in the consolidated financial statements and to note 11 in the financial statements for the parent company. How our audit addressed the above key audit matters: ⢠Assessment of the eligibility of the development projects for capitalization as intangible asset under applicable accounting standards, including for a sample of development projects in progress we considered whether the criteria in IAS 38 were met as basis for capitalization. ⢠We tested on a sample basis recognized salary costs to timesheets and salary information. We tested on a sample basis the accuracy of capitalized investments and that the recognized investments were directly attributable to development projects. ⢠We evaluated Managementâs assessment of impairment indicators of completed development projects based on the commercial prospects of the projects. We discussed with management the value-in-use calculations of development projects in progress and used professional skepticism to evaluate key assumptions applied in the impairment test. As part of our evaluation, we compared the applied budgets in the impairment test with the strategy plan approved by management and assessed the key assumptions in the impairment test based on discussions with management related to strategic initiatives and test to supporting evidence. ⢠Assessment of the adequacy of the disclosures provided by management in the financial statements compared to applicable accounting standards. Revenue recognition The Groupâs revenue primarily consists of the sales of goods that are recognized at a point in time. Engineering services are recognized as revenue in the income statement based on the stage of completion (over time), which is determined on the basis of the relationship between the Groupâs resources spend in relation to the total estimate of resource consumption. The degree of completion is assessed regularly and adjustments are made to the stage of completion if deemed necessary. Revenue recognition and measurement of the degree of completion for the Group is a matter of most significance in our audit due to the inherent risk in the estimates and judgements made by Management in the normal course of business as to timing of revenue and measurement of the degree of completion. Refer to note 1 and 4 in the consolidated financial statements and to note 2 in the financial statements for the parent company. How our audit addressed the above key audit matters: ⢠Assessment of management IFRS-15 accounting memorandum regarding recognition of revenue over time. ⢠Test of Managementâs assessment of the degree of completion of Engineering services, including test to underlying contract, supporting documentation and evaluation of assumptions. ⢠Data analytical procedures on revenue including correlation analysis and activity analysis. ⢠Test of sales transactions during the year and recognized before and after the balance sheet date to contracts and other supporting documentation to assess proper revenue recognition and cut-off. ⢠Assessment whether the applied revenue recognition criteria follow the Groupâs accounting policies as disclosed in note 1 to the consolidated financial statements. ⢠Evaluation of the adequacy of the disclosures provided by management in the financial statements compared to applicable accounting standards.</arr:KeyAuditMattersAudit>
<arr:StatementOnManagementsReviewAuditorsReportOnAuditedFinancialStatements contextRef="ctx1" id="fact1347" xml:lang="en">Statement on the Managementâs review Management is responsible for the Management's review. Our opinion on the financial statements does not cover the Management's review, and we do not express any assurance conclusion thereon. In connection with our audit of the financial statements, our responsibility is to read the Management's review and, in doing so, consider whether the Management's review is materially inconsistent with the financial statements, or our knowledge obtained during the audit, or otherwise appears to be materially misstated. Moreover, it is our responsibility to consider whether the Management's review provides the information required by relevant law and regulations. Based on our procedures, we conclude that the Management's review is in accordance with the financial statements and has been prepared in accordance with the requirements of relevant law and regulations. We did not identify any material misstatement of the Management's review.</arr:StatementOnManagementsReviewAuditorsReportOnAuditedFinancialStatements>
<arr:StatementOfExecutiveAndSupervisoryBoardsResponsibilityForFinancialStatements contextRef="ctx1" id="fact1359" xml:lang="en">Managementâs responsibilities for the financial statements Management is responsible for the preparation of consolidated financial statements and parent company financial statements that give a true and fair view in accordance with IFRS Accounting Standards as adopted by the EU and additional requirements of the Danish Financial Statements Act and for such internal control as Management determines is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. In preparing the financial statements, Management is responsible for assessing the Group's and the Parent Company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting in preparing the financial statements unless Management either intends to liquidate the Group or the Parent Company or to cease operations, or has no realistic alternative but to do so.</arr:StatementOfExecutiveAndSupervisoryBoardsResponsibilityForFinancialStatements>
<arr:StatementOfAuditorsResponsibilityForAuditAndAuditPerformed contextRef="ctx1" id="fact1369" xml:lang="en">Auditorâs responsibilities for the audit of the financial statements Our objectives are to obtain reasonable assurance as to whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor's report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs and additional requirements applicable in Denmark will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of the financial statements. As part of an audit conducted in accordance with ISAs and additional requirements applicable in Denmark, we exercise professional judgement and maintain professional scepticism throughout the audit. We also: ⢠Identify and assess the risks of material misstatement of the financial statements, whether due to fraud or error, design and perform audit procedures responsive to those risks and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations or the override of internal control. ⢠Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the Group's and the Parent Company's internal control. Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures made by Management. Conclude on the appropriateness of Management's use of the going concern basis of accounting in preparing the financial statements and, based on the audit evidence obtained, whether a material uncertainty exists related to events or conditions that may cast significant doubt on the Group's and the Parent Company's ability to continue as a going concern. If we conclude that a material uncertainty exists, we are required to draw attention in our auditor's report to the related disclosures in the financial statements or, if such disclosures are inadequate, to modify our opinion. Our conclusions are based on the audit evidence obtained up to the date of our auditor's report. However, future events or conditions may cause the Group and the Parent Company to cease to continue as a going concern. Evaluate the overall presentation, structure and contents of the financial statements, including the note disclosures, and whether the financial statements represent the underlying transactions and events in a manner that gives a true and fair view. Obtain sufficient appropriate audit evidence regarding the financial information of the entities or business activities within the Group to express an opinion on the consolidated financial statements. We are responsible for the direction, supervision and performance of the group audit. We remain solely responsible for our audit opinion. We communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audit and significant audit findings, including any significant deficiencies in internal control that we identify during our audit. We also provide those charged with governance with a statement that we have complied with relevant ethical requirements regarding independence, and to communicate with them all relationships and other matters that may reasonably be thought to bear on our independence, and where applicable, actions taken to eliminate threats or safeguards applied. From the matters communicated with those charged with governance, we determine those matters that were of most significance in the audit of the consolidated financial statements and the parent company financial statements of the current period and are therefore the key audit matters. We describe these matters in our auditor's report unless law or regulation precludes public disclosure about the matter.</arr:StatementOfAuditorsResponsibilityForAuditAndAuditPerformed>
<arr:AuditorsReportOnXbrlTagging contextRef="ctx1" id="fact1417" xml:lang="en">Report on compliance with the ESEF Regulation As part of our audit of the Consolidated Financial Statements and Parent Company Financial Statements of Napatech A/S, we performed procedures to express an opinion on whether the annual report of Napatech A/S for the financial year 1 January â 31 December 2023 with the file name Napatech-2023-12-31-en.zip is prepared, in all material respects, in compliance with the Commission Delegated Regulation (EU) 2019/815 on the European Single Electronic Format (ESEF Regulation) which includes requirements related to the preparation of the annual report in XHTML format and iXBRL tagging of the Consolidated Financial Statements including notes. Management is responsible for preparing an annual report that complies with the ESEF Regulation. This responsibility includes: ⢠The preparing of the annual report in XHTML format; ⢠The selection and application of appropriate iXBRL tags, including extensions to the ESEF taxonomy and the anchoring thereof to elements in the taxonomy, for all financial information required to be tagged using judgement where necessary; ⢠Ensuring consistency between iXBRL tagged data and the Consolidated Financial Statements presented in human readable format; and ⢠For such internal control as Management determines necessary to enable the preparation of an annual report that is compliant with the ESEF Regulation. Our responsibility is to obtain reasonable assurance on whether the annual report is prepared, in all material respects, in compliance with the ESEF Regulation based on the evidence we have obtained, and to issue a report that includes our opinion. The nature, timing and extent of procedures selected depend on the auditorâs judgement, including the assessment of the risks of material departures from the requirements set out in the ESEF Regulation, whether due to fraud or error. The procedures include: ⢠Testing whether the annual report is prepared in XHTML format; ⢠Obtaining an understanding of the companyâs iXBRL tagging process and of internal control over the tagging process; ⢠Evaluating the completeness of the iXBRL tagging of the Consolidated Financial Statements including notes; ⢠Evaluating the appropriateness of the companyâs use of iXBRL elements selected from the ESEF taxonomy and the creation of extension elements where no suitable element in the ESEF taxonomy has been identified; ⢠Evaluating the use of anchoring of extension elements to elements in the ESEF taxonomy; and ⢠Reconciling the iXBRL tagged data with the audited Consolidated Financial Statements. In our opinion, the annual report of Napatech for the financial year 1 January â 31 December 2023 with the file name Napatech-2023-12-31-en.zip is prepared, in all material respects, in compliance with the ESEF Regulation.</arr:AuditorsReportOnXbrlTagging>
<arr:SignatureOfAuditorsPlace contextRef="ctx1" id="fact1460" xml:lang="en">Copenhagen</arr:SignatureOfAuditorsPlace>
<arr:SignatureOfAuditorsDate contextRef="ctx1" id="fact1461">2024-03-21</arr:SignatureOfAuditorsDate>
<cmn:NameOfAuditFirm contextRef="ctx44" id="fact1794" xml:lang="en">EY Godkendt Revisionspartnerselskab</cmn:NameOfAuditFirm>
<cmn:NameAndSurnameOfAuditor contextRef="ctx44" id="fact1796" xml:lang="en">Peter Andersen</cmn:NameAndSurnameOfAuditor>
<cmn:DescriptionOfAuditor contextRef="ctx44" id="fact1797" xml:lang="en">State Authorised Public Accountant</cmn:DescriptionOfAuditor>
<cmn:IdentificationNumberOfAuditor contextRef="ctx44" id="fact1799" xml:lang="en">mne34313</cmn:IdentificationNumberOfAuditor>
</xbrli:xbrl>