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