Financial liabilities (Tables)
|
12 Months Ended |
Dec. 31, 2023 |
|---|
| Disclosure of financial liabilities [abstract] |
|
| Summary of Balances in Financial Debt |
Total financial liabilities are EUR 398,916 thousand and EUR 219,161 thousand as of December 31, 2023 and as of December 31, 2022 respectively; the balances in financial debt are as follows:
|
|
|
|
|
|
|
|
|
|
|
At December 31, |
|
|
At December 31, |
|
|
|
2023 |
|
|
2022 |
|
|
|
(EUR thousand) |
|
Lease liabilities |
|
|
5,841 |
|
|
|
5,325 |
|
Bank overdrafts and short-term loan facilities |
|
|
84,005 |
|
|
|
13,245 |
|
Bank loans |
|
|
51,592 |
|
|
|
50,518 |
|
Financial liabilities due to related parties |
|
|
— |
|
|
|
871 |
|
Fair value of derivatives |
|
|
20 |
|
|
|
— |
|
Financial payables for shares acquisition |
|
|
175 |
|
|
|
— |
|
Financial liabilities due to other lenders |
|
|
— |
|
|
|
795 |
|
Financial liabilities for accrued interests |
|
|
1,644 |
|
|
|
— |
|
Total current financial liabilities |
|
|
143,277 |
|
|
|
70,754 |
|
|
|
|
|
|
|
|
Lease liabilities |
|
|
13,104 |
|
|
|
14,657 |
|
Bank loans |
|
|
192,304 |
|
|
|
84,069 |
|
Notes |
|
|
49,743 |
|
|
|
49,681 |
|
Fair value of derivatives |
|
|
488 |
|
|
|
— |
|
Total non-current financial liabilities |
|
|
255,639 |
|
|
|
148,407 |
|
|
|
|
|
|
|
|
Financial Liabilities |
|
|
398,916 |
|
|
|
219,161 |
|
|
| Summary of Reconciliation Total Borrowings |
The following table sets forth the reconciliation of total borrowings:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
At December 31, |
|
|
Cash flows |
|
|
Non-cash changes |
|
|
At December 31, |
|
|
|
2022 |
|
|
Proceeds |
|
|
Repayments |
|
|
Exchange rate |
|
|
Amortized Cost |
|
|
Accrued Interests |
|
|
2023 |
|
|
|
(EUR thousand) |
|
Bank loans |
|
|
134,587 |
|
|
|
160,000 |
|
|
|
(50,680 |
) |
|
|
— |
|
|
|
(11 |
) |
|
|
1,553 |
|
|
|
245,448 |
|
Bank overdrafts and short-term loan facilities |
|
|
13,245 |
|
|
|
87,512 |
|
|
|
(16,719 |
) |
|
|
(33 |
) |
|
|
— |
|
|
|
91 |
|
|
|
84,096 |
|
Notes |
|
|
49,681 |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
62 |
|
|
|
— |
|
|
|
49,743 |
|
Financial liabilities due to related parties |
|
|
871 |
|
|
|
— |
|
|
|
(806 |
) |
|
|
(65 |
) |
|
|
— |
|
|
|
— |
|
|
|
— |
|
Financial liabilities due to other lenders |
|
|
795 |
|
|
|
— |
|
|
|
(794 |
) |
|
|
(1 |
) |
|
|
— |
|
|
|
— |
|
|
|
— |
|
Total Borrowings |
|
|
199,179 |
|
|
|
247,512 |
|
|
|
(68,999 |
) |
|
|
(98 |
) |
|
|
51 |
|
|
|
1,644 |
|
|
|
379,287 |
|
|
| Summary of Maturities and Average Interest Rates for Liabilities to Banks and Other Lenders |
The following table shows maturities and average interest rates for liabilities to banks and other lenders:
At December 31, 2023
|
|
|
|
|
|
|
|
|
|
|
|
|
Currency |
|
Amount |
|
Maturity |
|
Average
Interest Rate |
|
Amount in EUR |
Bank Loans |
|
EUR |
|
51,664 |
|
2024 |
|
3.45% |
|
51,664 |
|
|
EUR |
|
56,893 |
|
2025 |
|
3.86% |
|
56,893 |
|
|
EUR |
|
60,821 |
|
2026 |
|
3.81% |
|
60,821 |
|
|
EUR |
|
53,925 |
|
2027 |
|
3.42% |
|
53,925 |
|
|
EUR |
|
20,833 |
|
2028 |
|
2.12% |
|
20,833 |
Amortized Cost |
|
EUR |
|
(240) |
|
2024-2028 |
|
|
|
(240) |
Total Bank Loans |
|
|
|
|
|
|
|
|
|
243,896 |
|
|
|
|
|
|
|
|
|
|
|
Notes |
|
EUR |
|
25,000 |
|
2027 |
|
1.40% |
|
25,000 |
|
|
EUR |
|
25,000 |
|
2028 |
|
1.40% |
|
25,000 |
Amortized Cost |
|
EUR |
|
(257) |
|
2024-2028 |
|
|
|
(257) |
Total Notes |
|
|
|
|
|
|
|
|
|
49,743 |
|
|
|
|
|
|
|
|
|
|
|
Overdrafts and short-term loan facilities |
|
DKK |
|
198,811 |
|
2024 |
|
4.90% |
|
26,005 |
|
|
EUR |
|
58,000 |
|
2024 |
|
4.05% |
|
58,000 |
Total Overdrafts and short-term loan facilities |
|
|
|
|
|
|
|
|
|
84,005 |
|
|
|
|
|
|
|
|
|
|
|
Total Bank Loans and Overdrafts |
|
|
|
|
|
|
|
|
|
377,644 |
At December 31, 2022
|
|
|
|
|
|
|
|
|
|
|
|
|
Currency |
|
Amount |
|
Maturity |
|
Average
Interest Rate |
|
Amount in EUR |
Bank Loans |
|
EUR |
|
50,680 |
|
2023 |
|
1.21% |
|
50,680 |
|
|
EUR |
|
51,664 |
|
2024 |
|
1.17% |
|
51,664 |
|
|
EUR |
|
24,394 |
|
2025 |
|
1.09% |
|
24,394 |
|
|
EUR |
|
7,488 |
|
2026 |
|
1.71% |
|
7,488 |
|
|
EUR |
|
591 |
|
2027 |
|
1.16% |
|
591 |
Amortized Cost |
|
EUR |
|
(230) |
|
2023-2027 |
|
|
|
(230) |
Total Bank Loans |
|
|
|
|
|
|
|
|
|
134,587 |
|
|
|
|
|
|
|
|
|
|
|
Notes |
|
EUR |
|
25,000 |
|
2027 |
|
1.40% |
|
25,000 |
|
|
EUR |
|
25,000 |
|
2028 |
|
1.40% |
|
25,000 |
Amortized Cost |
|
EUR |
|
(319) |
|
2023-2028 |
|
|
|
(319) |
Total Notes |
|
|
|
|
|
|
|
|
|
49,681 |
|
|
|
|
|
|
|
|
|
|
|
Overdrafts and short-term loan facilities |
|
DKK |
|
98,488 |
|
2023 |
|
1.25% |
|
13,244 |
|
|
|
|
|
|
|
|
|
|
|
Total Bank Loans and Overdrafts |
|
|
|
|
|
|
|
|
|
197,512 |
|