Annual and transition report of foreign private issuers [Sections 13 or 15(d)]

Financial liabilities (Tables)

v3.25.0.1
Financial liabilities (Tables)
12 Months Ended
Dec. 31, 2024
Disclosure of financial liabilities [abstract]  
Summary of Balances in Financial Debt

Total financial liabilities amounted to EUR 434,605 thousand and EUR 398,916 thousand at December 31, 2024 and at December 31, 2023 respectively; the balances in financial liabilities are as follows:

 

 

 

At December 31,

 

 

At December 31,

 

 

 

2024

 

 

2023

 

 

 

(EUR thousand)

 

Lease liabilities

 

 

5,092

 

 

 

5,841

 

Bank overdrafts and short-term loan facilities

 

 

50,030

 

 

 

84,005

 

Bank loans

 

 

56,812

 

 

 

51,592

 

Fair value of derivatives

 

 

3,420

 

 

 

20

 

Financial payables for shares acquisition

 

 

 

 

 

175

 

Financial liabilities for accrued interests

 

 

1,573

 

 

 

1,644

 

Total current financial liabilities

 

 

116,927

 

 

 

143,277

 

 

 

 

 

 

 

Lease liabilities

 

 

11,809

 

 

 

13,104

 

Bank loans

 

 

255,437

 

 

 

192,304

 

Notes

 

 

49,790

 

 

 

49,743

 

Fair value of derivatives

 

 

642

 

 

 

488

 

Total non-current financial liabilities

 

 

317,678

 

 

 

255,639

 

 

 

 

 

 

 

Financial Liabilities

 

 

434,605

 

 

 

398,916

 

 

Summary of Reconciliation Total Borrowings

The following table sets forth the reconciliation of total borrowings (inclusive of accrued interest):

 

 

At December 31,

 

 

Cash flows

 

 

 

 

 

Non-cash changes

 

 

At December 31,

 

 

 

2023

 

 

Proceeds

 

 

Repayments

 

 

Accrued interest paid in the period

 

 

Exchange rate

 

 

Amortized Cost

 

 

Accrued interest in the period

 

 

2024

 

 

 

(EUR thousand)

 

Bank loans

 

 

245,448

 

 

 

120,000

 

 

 

(51,664

)

 

 

(1,553

)

 

 

 

 

 

17

 

 

 

1,304

 

 

 

313,552

 

Bank overdrafts and short-term loan facilities

 

 

84,096

 

 

 

70,172

 

 

 

(104,126

)

 

 

(91

)

 

 

(21

)

 

 

 

 

 

269

 

 

 

50,299

 

Notes

 

 

49,743

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

47

 

 

 

 

 

 

49,790

 

Total Borrowings

 

 

379,287

 

 

 

190,172

 

 

 

(155,790

)

 

 

(1,644

)

 

 

(21

)

 

 

64

 

 

 

1,573

 

 

 

413,641

 

 

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, 2024

 

Currency

 

Amount

 

Maturity

 

Average
Interest Rate

 

Amount in EUR

Bank Loans

 

EUR

 

56,893

 

2025

 

3.64%

 

56,893

 

EUR

 

87,488

 

2026

 

3.84%

 

87,488

 

EUR

 

90,591

 

2027

 

3.95%

 

90,591

 

EUR

 

57,500

 

2028

 

4.03%

 

57,500

 

EUR

 

10,000

 

2029

 

4.23%

 

10,000

 

EUR

 

10,000

 

2030

 

4.23%

 

10,000

Amortized Cost

 

EUR

 

(223)

 

2025-2030

 

 

 

(223)

Total Bank Loans

 

 

 

 

 

 

 

 

 

312,249

 

 

 

 

 

 

 

 

 

 

Notes

 

EUR

 

25,000

 

2027

 

1.40%

 

25,000

 

EUR

 

25,000

 

2028

 

1.40%

 

25,000

Amortized Cost

 

EUR

 

(210)

 

2025-2028

 

 

 

(210)

Total Notes

 

 

 

 

 

 

 

 

 

49,790

 

 

 

 

 

 

 

 

 

 

Overdrafts and short-term loan facilities

 

EUR

 

50,001

 

2025

 

3.02%

 

50,001

 

DKK

 

220

 

2025

 

4.19%

 

29

Total Overdrafts and short-term loan facilities

 

 

 

 

 

 

 

 

 

50,030

 

 

 

 

 

 

 

 

 

 

Total Bank Loans and Overdrafts

 

 

 

 

 

 

 

 

 

412,069

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

 

Certain bank loans