Case Study: Svevia achieves automated IFRS 16 compliance and streamlined lease and sublease management with CCH Tagetik

Svevia Success Story with CCH® Tagetik Lease Accounting for IFRS 16

Svevia, a Swedish roads and infrastructure contractor with about 2,100 employees and SEK 8.1 billion in annual revenue, faced a major IFRS 16 challenge: roughly 3,000 leasing contracts (including 900 subleases) with frequently changing, STIBOR‑linked payments across three legal entities. With a January 2019 compliance deadline and high volumes of monthly adjustments and extensions, manual maintenance of sublease values was impractical and the company needed a proven, stand‑alone lease accounting solution and a customized ETL for consolidation.

Svevia implemented CCH Tagetik Lease Accounting for IFRS 16 and ASC 842 in about four months, including a custom sublease data entry report, ETL integration and annual disclosure functions. The system automates monthly contract calculations from Excel uploads, flags outliers, provides drill‑down reporting and generates disclosures, allowing Svevia to update subleases automatically, simplify reporting and save significant time while ensuring compliance.

Svevia

Susanne Vogt

Group Accounting Manager