Financial liabilities (Tables)
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12 Months Ended |
Dec. 31, 2021 |
|---|
| Disclosure Of Financial Liabilities [Abstract] |
|
| Summary of Balances in Financial Debt |
Total financial liabilities are EUR 248,491 thousand and EUR 375,358 thousand as of December 31, 2021 and as of December 31, 2020 respectively; the balances in financial debt are as follows:
|
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At December 31, |
|
|
At December 31, |
|
(EUR thousand) |
|
2021 |
|
|
2020 |
|
Lease liabilities - Right of Use |
|
|
5,553 |
|
|
|
5,435 |
|
Bank overdrafts |
|
|
37 |
|
|
|
582 |
|
Bank loans |
|
|
36,195 |
|
|
|
61,905 |
|
Financial liabilities due to related parties |
|
|
940 |
|
|
|
968 |
|
Fair value of derivatives |
|
|
1,681 |
|
|
|
4,417 |
|
Financial payables for shares acquisition |
|
|
— |
|
|
|
7,927 |
|
Financial liabilities due to other lenders |
|
|
1,789 |
|
|
|
— |
|
Total current financial liabilities |
|
|
46,195 |
|
|
|
81,234 |
|
|
|
|
|
|
|
|
Lease liabilities - Right of Use |
|
|
17,574 |
|
|
|
20,186 |
|
Bank loans |
|
|
134,367 |
|
|
|
224,365 |
|
Notes |
|
|
49,620 |
|
|
|
49,573 |
|
Financial liabilities due to other lenders |
|
|
735 |
|
|
|
— |
|
Total non-current financial liabilities |
|
|
202,296 |
|
|
|
294,124 |
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|
|
|
|
|
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Financial Liabilities |
|
|
248,491 |
|
|
|
375,358 |
|
|
| 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:
As at December 31, 2021
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Currency |
|
Amount |
|
|
Maturity |
|
Average
Interest Rate |
|
Amount in EUR |
|
Bank Loans |
|
EUR |
|
|
36,357 |
|
|
2022 |
|
1.20% |
|
|
36,357 |
|
|
|
EUR |
|
|
50,461 |
|
|
2023 |
|
1.24% |
|
|
50,461 |
|
|
|
EUR |
|
|
51,664 |
|
|
2024 |
|
1.28% |
|
|
51,664 |
|
|
|
EUR |
|
|
24,393 |
|
|
2025 |
|
1.33% |
|
|
24,393 |
|
|
|
EUR |
|
|
7,488 |
|
|
2026 |
|
1.39% |
|
|
7,488 |
|
|
|
EUR |
|
|
592 |
|
|
2027 |
|
1.40% |
|
|
592 |
|
Amortized Cost |
|
EUR |
|
|
(393 |
) |
|
2022-2027 |
|
|
|
|
(393 |
) |
Total Bank Loans |
|
|
|
|
|
|
|
|
|
|
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170,562 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Notes |
|
EUR |
|
|
25,000 |
|
|
2027 |
|
1.40% |
|
|
25,000 |
|
|
|
EUR |
|
|
25,000 |
|
|
2028 |
|
1.40% |
|
|
25,000 |
|
Amortized Cost |
|
|
|
|
(380 |
) |
|
2022-2028 |
|
|
|
|
(380 |
) |
Total Notes |
|
|
|
|
|
|
|
|
|
|
|
49,620 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Overdrafts |
|
DKK |
|
|
275 |
|
|
2022 |
|
1.25% |
|
|
37 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total Bank Loans and Overdrafts |
|
|
|
|
|
|
|
|
|
|
|
220,219 |
|
As at December 31, 2020
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Currency |
|
Amount |
|
|
Maturity |
|
Average
Interest Rate |
|
Amount in EUR |
|
Bank Loans |
|
EUR |
|
|
62,169 |
|
|
2021 |
|
0.86% |
|
|
62,169 |
|
|
|
EUR |
|
|
66,251 |
|
|
2022 |
|
0.91% |
|
|
66,251 |
|
|
|
EUR |
|
|
65,467 |
|
|
2023 |
|
0.97% |
|
|
65,467 |
|
|
|
EUR |
|
|
56,156 |
|
|
2024 |
|
1.08% |
|
|
56,156 |
|
|
|
EUR |
|
|
28,843 |
|
|
2025 |
|
1.29% |
|
|
28,843 |
|
|
|
EUR |
|
|
7,488 |
|
|
2026 |
|
1.36% |
|
|
7,488 |
|
|
|
EUR |
|
|
591 |
|
|
2027 |
|
0.94% |
|
|
591 |
|
Amortized Cost |
|
EUR |
|
|
(695 |
) |
|
2021-2027 |
|
|
|
|
(695 |
) |
Total Bank Loans |
|
|
|
|
|
|
|
|
|
|
|
286,270 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Notes |
|
EUR |
|
|
25,000 |
|
|
2027 |
|
1.40% |
|
|
25,000 |
|
|
|
EUR |
|
|
25,000 |
|
|
2028 |
|
1.40% |
|
|
25,000 |
|
Amortized Cost |
|
EUR |
|
|
(427 |
) |
|
2021-2028 |
|
|
|
|
(427 |
) |
Total Notes |
|
|
|
|
|
|
|
|
|
|
|
49,573 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Overdrafts |
|
DKK |
|
|
4,321 |
|
|
2021 |
|
1.25% |
|
|
582 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total Bank Loans and Overdrafts |
|
|
|
|
|
|
|
|
|
|
|
336,425 |
|
|
| Summary of Analysis of Derivative Assets and Liabilities |
The following table sets further the analysis of derivative assets and liabilities at December 31, 2021 and December 31, 2020.
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At December 31, |
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|
At December 31, |
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|
2021 |
|
|
2020 |
|
(EUR thousand) |
|
Carrying
amount |
|
|
Fair
value |
|
|
Carrying
amount |
|
|
Fair
value |
|
Financial assets |
|
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|
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|
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|
|
|
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Foreign exchange forward contracts |
|
49 |
|
|
|
49 |
|
|
|
19 |
|
|
|
19 |
|
|
|
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Financial liabilities |
|
|
|
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|
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Foreign exchange forward contracts |
|
|
— |
|
|
|
— |
|
|
|
16 |
|
|
|
16 |
|
Interest Rate Swap in cash flow hedges |
|
|
1,681 |
|
|
|
1,681 |
|
|
|
4,386 |
|
|
|
4,386 |
|
|