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1. Segment reporting

The operating segments under IFRS 8 reported by Tecnotree are the geographical areas, which are Europe & Americas (Europe, North, Central and South America), MEA & APAC (Middle East and Africa & Asia Pacific ). This is because their results are monitored separately in the company’s internal financial reporting. Tecnotree’s ultimate chief operating decision maker, as referred to in IFRS 8, is the Group’s management board.
Net sales and the result for the operating segments are presented based on the location of customers. The result for the operating segments includes the costs that can be allocated to the segments, being costs of sales and marketing, product management, customer service and delivery functions as well as product development. Costs for administration, depreciations, taxes and financial items are not allocated to the segments, as they can't be allocated to the segments on a reasonable basis. These costs are presented under Other costs in the below table.
Tecnotree does not allocate its assets to the operating segments for the reporting purposes.
 
Operating segments 2020
EUR 1,000   Americas &
Europe
MEA &
APAC
Other
segments
Group
total
Net sales (external)   11,000 41,822   52,822
          0
Segment result   3,928 26,970   30,898
Non-allocated items       -11,600 -11,600
Operating result before one-time costs*         19,298
One-time costs**         -669
Operating result         18,629
 
Operating segments 2019
EUR 1,000   Americas &
Europe
MEA &
APAC
Other
segments
Group
total
Net sales (external)   14,873 32,118   46,991
          0
Segment result   6,971 14,900   21,871
Non-allocated items       -8,913 -8,913
Operating result before one-time costs       12,958
One-time costs         1,415
Operating result         14,373
           
Net sales from Finnish customers were EUR 522 (717) thousand and the total of all other countries EUR 52,299 (46,990) thousand. Non-current assets located in Finland at the balance sheet date were EUR 209 (290) thousand, and in other countries a total of EUR 7,112 (6,475) thousand.
 
*) Operating result before one-time costs = Adjusted operating result
**) Share issue expenses 1,125 thousand euros and tax income 456 thousand euros
 
Information about major customers
EUR 1,000   2020 2020 2020 2020
    Net sales % of the Group's net sales Net sales % of the Group's net sales
Customer 1, operating segment: Americas & Europe 9,359 17.7 % 12,250 26.1 %
Customer 2, operating segment: MEA & APAC 30,861 58.4 % 25,339 53.9 %