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

Employee benefits (Tables)

v3.25.0.1
Employee benefits (Tables)
12 Months Ended
Dec. 31, 2024
Disclosure of information about defined benefit plans [abstract]  
Summary of employee benefits

Employee benefits are analyzed as follows:

 

 

 

At December 31,

 

 

At December 31,

 

 

 

2024

 

 

2023

 

 

 

(EUR thousand)

 

Employee severance indemnity

 

 

5,571

 

 

 

5,677

 

Jubilee benefits

 

 

238

 

 

 

228

 

Other post-employment plans

 

 

1,074

 

 

 

1,228

 

Stock grant plan

 

 

280

 

 

 

280

 

Total employee benefits

 

 

7,163

 

 

 

7,413

 

 

Summary of group's liabilities for employee benefits

The Group’s liabilities for employee benefits are as follows:

 

 

 

Trattamento
Fine
Rapporto

 

 

Jubilee
Benefits

 

 

Beneficio
por Retiro /
Terminacion

 

 

Severance
Payment
Slovakia

 

 

Total

 

 

 

(EUR thousand)

 

At January 1, 2023

 

 

4,936

 

 

 

213

 

 

 

940

 

 

 

39

 

 

 

6,128

 

Acquisition of Perugini S.r.l.

 

 

387

 

 

 

 

 

 

 

 

 

 

 

 

387

 

Interest cost

 

 

178

 

 

 

6

 

 

 

83

 

 

 

2

 

 

 

269

 

Current service cost

 

 

353

 

 

 

26

 

 

 

259

 

 

 

9

 

 

 

647

 

Benefits paid

 

 

(422

)

 

 

(21

)

 

 

(233

)

 

 

(15

)

 

 

(691

)

Actuarial gains and losses

 

 

245

 

 

 

4

 

 

 

(9

)

 

 

10

 

 

 

250

 

Exchange rate differences

 

 

 

 

 

 

 

 

143

 

 

 

 

 

 

143

 

At December 31, 2023

 

 

5,677

 

 

 

228

 

 

 

1,183

 

 

 

45

 

 

 

7,133

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Recognized in the consolidated income statement

 

 

531

 

 

 

36

 

 

 

341

 

 

 

11

 

 

 

919

 

Recognized in the other comprehensive income

 

 

245

 

 

 

 

 

 

(9

)

 

 

10

 

 

 

246

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

At January 1, 2024

 

 

5,677

 

 

 

228

 

 

 

1,183

 

 

 

45

 

 

 

7,133

 

Interest cost

 

 

171

 

 

 

6

 

 

 

92

 

 

 

1

 

 

 

270

 

Current service cost

 

 

481

 

 

 

30

 

 

 

138

 

 

 

7

 

 

 

656

 

Benefits paid

 

 

(570

)

 

 

(10

)

 

 

(205

)

 

 

(15

)

 

 

(800

)

Actuarial gains and losses

 

 

(188

)

 

 

(16

)

 

 

(49

)

 

 

17

 

 

 

(236

)

Exchange rate differences

 

 

 

 

 

 

 

 

(140

)

 

 

 

 

 

(140

)

At December 31, 2024

 

 

5,571

 

 

 

238

 

 

 

1,019

 

 

 

55

 

 

 

6,883

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Recognized in the consolidated income statement

 

 

652

 

 

 

20

 

 

 

230

 

 

 

8

 

 

 

910

 

Recognized in the other comprehensive income

 

 

(188

)

 

 

 

 

 

(49

)

 

 

17

 

 

 

(220

)

Summary of assumptions used for determining defined benefit obligations and quantitative impact

The principal assumptions used for determining the obligations under the plan described are as follows:

At December 31, 2024

 

 

Severance indemnity

 

 

Italy

 

 

Germany

 

 

Mexico

 

 

Slovakia

 

Discount Rate %

 

 

3.38

%

 

 

3.40

%

 

 

11.00

%

 

 

3.18

%

Future salary increase %

 

 

0.50

%

 

 

 

 

 

4.50

%

 

 

6.00

%

Inflation rate %

 

 

2.00

%

 

 

 

 

 

3.50

%

 

 

 

 

At December 31, 2023

 

 

Severance indemnity

 

 

Italy

 

 

Germany

 

 

Mexico

 

 

Slovakia

 

Discount Rate %

 

 

3.17

%

 

 

2.80

%

 

 

9.25

%

 

 

3.17

%

Future salary increase %

 

 

0.50

%

 

 

 

 

 

4.50

%

 

 

6.00

%

Inflation rate %

 

 

2.00

%

 

 

 

 

 

3.50

%

 

 

 

 

A quantitative sensitivity analysis for significant assumptions impacting defined benefits obligation at December 31, 2024 and December 31, 2023 is reported as follows:

 

 

 

At December 31,

 

 

At December 31,

 

 

 

2024

 

 

2023

 

 

 

(EUR thousand)

 

Turnover rate +1,00%

 

 

24

 

 

 

19

 

Turnover rate -1,00%

 

 

(28

)

 

 

(21

)

Inflation rate +0,25%

 

 

80

 

 

 

82

 

Inflation rate -0,25%

 

 

(78

)

 

 

(80

)

Annual discount rate +0,25%

 

 

(107

)

 

 

(111

)

Annual discount rate -0,25%

 

 

111

 

 

 

115