Disaggregation of revenue | ||
Revenue from the contracts with customers is derived over time and at a point in time in the following revenue types. | ||
Net sales by revenue type | ||
MEUR | 2018 | 2017 |
Products | 1 145 | 1 149 |
Goods and services | 557 | 567 |
Projects | 2 992 | 2 785 |
Long-term agreements | 480 | 410 |
Total | 5 174 | 4 911 |
Timing of satisfying performance obligations | ||
MEUR | 2018 | 2017 |
At a point in time | 3 740 | 3 555 |
Over time | 1 434 | 1 356 |
Total | 5 174 | 4 911 |
Product sales consist of sales of spare parts and standard equipment for which the revenue is recognised at a point in time when the control of the products has transferred to customer, in general at the delivery of the goods. | ||
Goods and services -type of revenue involves short-term field service jobs, which includes the delivery of a combination of service and equipment. The revenue is recognised at a point in time when service is rendered. | ||
Projects contain short-term and long-term projects. Depending on the contract terms and the duration of the project, the revenue is recognised at a point in time or over time. Revenue related to long-term projects, such as construction contracts, integrated solutions projects, ship design, and energy solutions contracts, is recognised over time. Revenue for tailor-made equipment delivery projects is recognised at a point in time. | ||
Long-term agreements contain long-term operating and maintenance agreements for which the revenue is recognised over time. |
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