Financial liabilities (Tables)
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12 Months Ended |
Dec. 31, 2024 |
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| Disclosure of financial liabilities [abstract] |
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| 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:
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At December 31, |
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At December 31, |
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2024 |
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2023 |
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(EUR thousand) |
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Lease liabilities |
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5,092 |
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|
5,841 |
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Bank overdrafts and short-term loan facilities |
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50,030 |
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84,005 |
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Bank loans |
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56,812 |
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51,592 |
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Fair value of derivatives |
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3,420 |
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20 |
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Financial payables for shares acquisition |
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— |
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175 |
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Financial liabilities for accrued interests |
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1,573 |
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1,644 |
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Total current financial liabilities |
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116,927 |
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143,277 |
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Lease liabilities |
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11,809 |
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13,104 |
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Bank loans |
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255,437 |
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192,304 |
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Notes |
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49,790 |
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49,743 |
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Fair value of derivatives |
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642 |
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|
488 |
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Total non-current financial liabilities |
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317,678 |
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255,639 |
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Financial Liabilities |
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434,605 |
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398,916 |
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| Summary of Reconciliation Total Borrowings |
The following table sets forth the reconciliation of total borrowings (inclusive of accrued interest):
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At December 31, |
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Cash flows |
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Non-cash changes |
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At December 31, |
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2023 |
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Proceeds |
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Repayments |
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Accrued interest paid in the period |
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Exchange rate |
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Amortized Cost |
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Accrued interest in the period |
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2024 |
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(EUR thousand) |
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Bank loans |
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245,448 |
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120,000 |
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(51,664 |
) |
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(1,553 |
) |
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— |
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17 |
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1,304 |
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313,552 |
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Bank overdrafts and short-term loan facilities |
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84,096 |
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70,172 |
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(104,126 |
) |
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(91 |
) |
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(21 |
) |
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— |
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269 |
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50,299 |
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Notes |
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49,743 |
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— |
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— |
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— |
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— |
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47 |
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— |
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49,790 |
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Total Borrowings |
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379,287 |
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190,172 |
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(155,790 |
) |
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(1,644 |
) |
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(21 |
) |
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64 |
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1,573 |
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413,641 |
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| 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
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Currency |
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Amount |
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Maturity |
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Average
Interest Rate |
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Amount in EUR |
Bank Loans |
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EUR |
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56,893 |
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2025 |
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3.64% |
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56,893 |
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EUR |
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87,488 |
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2026 |
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3.84% |
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87,488 |
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EUR |
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90,591 |
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2027 |
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3.95% |
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90,591 |
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EUR |
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57,500 |
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2028 |
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4.03% |
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57,500 |
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EUR |
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10,000 |
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2029 |
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4.23% |
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10,000 |
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EUR |
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10,000 |
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2030 |
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4.23% |
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10,000 |
Amortized Cost |
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EUR |
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(223) |
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2025-2030 |
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(223) |
Total Bank Loans |
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312,249 |
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Notes |
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EUR |
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25,000 |
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2027 |
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1.40% |
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25,000 |
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EUR |
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25,000 |
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2028 |
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1.40% |
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25,000 |
Amortized Cost |
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EUR |
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(210) |
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2025-2028 |
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(210) |
Total Notes |
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49,790 |
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Overdrafts and short-term loan facilities |
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EUR |
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50,001 |
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2025 |
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3.02% |
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50,001 |
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DKK |
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220 |
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2025 |
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4.19% |
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29 |
Total Overdrafts and short-term loan facilities |
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50,030 |
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Total Bank Loans and Overdrafts |
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412,069 |
At December 31, 2023
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Currency |
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Amount |
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Maturity |
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Average
Interest Rate |
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Amount in EUR |
Bank Loans |
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EUR |
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51,664 |
|
2024 |
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3.45% |
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51,664 |
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EUR |
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56,893 |
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2025 |
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3.86% |
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56,893 |
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EUR |
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60,821 |
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2026 |
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3.81% |
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60,821 |
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EUR |
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53,925 |
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2027 |
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3.42% |
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53,925 |
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EUR |
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20,833 |
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2028 |
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2.12% |
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20,833 |
Amortized Cost |
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EUR |
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(240) |
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2024-2028 |
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(240) |
Total Bank Loans |
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243,896 |
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Notes |
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EUR |
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25,000 |
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2027 |
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1.40% |
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25,000 |
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EUR |
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25,000 |
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2028 |
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1.40% |
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25,000 |
Amortized Cost |
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EUR |
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(257) |
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2024-2028 |
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(257) |
Total Notes |
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49,743 |
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Overdrafts and short-term loan facilities |
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DKK |
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198,811 |
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2024 |
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4.90% |
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26,005 |
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EUR |
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58,000 |
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2024 |
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4.05% |
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58,000 |
Total Overdrafts and short-term loan facilities |
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84,005 |
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Total Bank Loans and Overdrafts |
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377,644 |
Certain bank loans
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