Financial Risk Management (Table)
|
12 Months Ended |
Dec. 31, 2024 |
|---|
| Financial Risk Management [Line Items] |
|
| Summary of Maximum Exposure to Credit Risk |
The carrying amount of financial assets represents the Group’s maximum credit exposure:
|
|
|
|
|
|
|
|
|
|
|
2024 |
|
|
2023 |
|
Cash and Cash Equivalents |
|
|
425,172 |
|
|
|
536,160 |
|
Financial Assets at Fair Value through Profit or Loss |
|
|
129,319 |
|
|
|
104,387 |
|
Trade and Other Receivables |
|
|
496,713 |
|
|
|
363,374 |
|
Derivative Financial Instrument |
|
|
2,874 |
|
|
|
2,040 |
|
Other Assets |
|
|
18,805 |
|
|
|
11,782 |
|
|
|
|
1,072,883 |
|
|
|
1,017,743 |
|
|
| Summary of External Credit Risk Rating for Group's Current Trade and Other Receivables at Geographical Regions |
The table below discloses the external credit risk ratings for the Group’s current Trade and Other Receivables, based on the geographical regions in which the Trade and Other Receivables are held:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
2024 |
|
|
2023 |
|
Risk rating |
|
Expected loss rate |
|
|
Amounts |
|
|
Expected loss rate |
|
|
Amounts |
|
A |
|
|
0.02 |
% |
|
|
24,896 |
|
|
|
0.05 |
% |
|
|
42,618 |
|
AA |
|
|
0.01 |
% |
|
|
935 |
|
|
|
0.03 |
% |
|
|
392 |
|
AAA |
|
|
0.00 |
% |
|
|
14,846 |
|
|
|
0.00 |
% |
|
|
7,319 |
|
B |
|
|
0.05 |
% |
|
|
32,167 |
|
|
|
0.13 |
% |
|
|
24,345 |
|
BB |
|
|
0.04 |
% |
|
|
182,475 |
|
|
|
0.10 |
% |
|
|
172,833 |
|
BBB |
|
|
0.03 |
% |
|
|
161,433 |
|
|
|
0.08 |
% |
|
|
89,047 |
|
C |
|
|
0.08 |
% |
|
|
2,072 |
|
|
|
0.21 |
% |
|
|
279 |
|
CC |
|
|
0.07 |
% |
|
|
64,920 |
|
|
|
0.18 |
% |
|
|
11,251 |
|
CCC |
|
|
0.06 |
% |
|
|
12,969 |
|
|
|
0.16 |
% |
|
|
15,290 |
|
|
|
|
|
|
|
496,713 |
|
|
|
|
|
|
363,374 |
|
|
| Summary of Group Exposure to Foreign Currency Risk |
As of December 31, 2024 and 2023 the Group is exposed to foreign currency risk on monetary amounts denominated in a currency other than the functional currency of the respective subsidiaries, which is mainly comprised by cash and cash equivalents, trade receivables and trade payables in the service providers in Latin America, Asia and Africa. The following table presents the top five currencies net balances:
|
|
|
|
|
|
|
|
|
|
|
|
|
2024 |
|
|
|
|
|
(Gain)/loss |
Account |
|
Currency |
|
Amount |
|
% increase |
|
Amount |
|
% decrease |
|
Amount |
Total net (assets)/liabilities |
|
Argentine peso |
|
19,213 |
|
10% |
|
(1,921) |
|
-10% |
|
1,921 |
|
|
Brazilian real |
|
34,509 |
|
10% |
|
(3,451) |
|
-10% |
|
3,451 |
|
|
Colombian peso |
|
19,761 |
|
10% |
|
(1,976) |
|
-10% |
|
1,976 |
|
|
Mexican peso |
|
47,423 |
|
10% |
|
(4,742) |
|
-10% |
|
4,742 |
|
|
Nigerian naira |
|
(23,939) |
|
10% |
|
2,394 |
|
-10% |
|
(2,394) |
|
|
Total |
|
96,967 |
|
|
|
(9,696) |
|
|
|
9,696 |
|
|
|
|
|
|
|
|
|
|
|
|
|
2023 |
|
|
|
|
|
(Gain)/loss |
Account |
|
Currency |
|
Amount |
|
% increase |
|
Amount |
|
% decrease |
|
Amount |
Total net (assets)/liabilities |
|
Mexican peso |
|
39,825 |
|
10% |
|
(3,983) |
|
-10% |
|
3,983 |
|
|
Brazilian real |
|
29,145 |
|
10% |
|
(2,915) |
|
-10% |
|
2,915 |
|
|
Argentine peso |
|
12,769 |
|
10% |
|
(1,276) |
|
-10% |
|
1,276 |
|
|
Saudi riyal |
|
10,966 |
|
10% |
|
(1,097) |
|
-10% |
|
1,097 |
|
|
South African rand |
|
9,107 |
|
10% |
|
(911) |
|
-10% |
|
911 |
|
|
Total |
|
101,813 |
|
|
|
(10,182) |
|
|
|
10,182 |
|
| Summary of contractual undiscounted cash flows |
Amounts disclosed reflect contractual undiscounted cash flows. Balances due within 12 months equal their carrying balances as the impact of discounting is not significant.
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Contractual maturities of financial liabilities 31 December, 2024 |
|
Less than 6
months |
|
|
6-12 months |
|
|
Between 1 and
2 years |
|
|
More than 2 years |
|
|
Total
contractual
cash flows |
|
|
Carrying
amount |
|
Non-derivatives |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Trade and other payables |
|
|
597,787 |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
597,787 |
|
|
|
597,787 |
|
Financial Liabilities |
|
|
50,455 |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
50,455 |
|
|
|
50,455 |
|
Leases liabilities |
|
|
408 |
|
|
|
410 |
|
|
|
825 |
|
|
|
3,033 |
|
|
|
4,676 |
|
|
|
4,000 |
|
Total non-derivatives |
|
|
648,650 |
|
|
|
410 |
|
|
|
825 |
|
|
|
3,033 |
|
|
|
652,918 |
|
|
|
652,242 |
|
Derivatives |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Derivative financial instruments |
|
|
6,227 |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
6,227 |
|
|
|
6,227 |
|
Total derivatives |
|
|
6,227 |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
6,227 |
|
|
|
6,227 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Contractual maturities of financial liabilities 31 December, 2023 |
|
Less than 6
months |
|
|
6-12 months |
|
|
Between 1 and
2 years |
|
|
More than 2 years |
|
|
Total
contractual
cash flows |
|
|
Carrying
amount |
|
Non-derivatives |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Trade and other payables |
|
|
602,493 |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
602,493 |
|
|
|
602,493 |
|
Leases liabilities |
|
|
217 |
|
|
|
409 |
|
|
|
584 |
|
|
|
3,017 |
|
|
|
4,227 |
|
|
|
3,957 |
|
Total non-derivatives |
|
|
602,710 |
|
|
|
409 |
|
|
|
584 |
|
|
|
3,017 |
|
|
|
606,720 |
|
|
|
606,450 |
|
Derivatives |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Derivative financial instruments |
|
|
948 |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
948 |
|
|
|
948 |
|
Total derivatives |
|
|
948 |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
948 |
|
|
|
948 |
|
|
| Summary of Net Cash |
The Group monitors capital using Net Cash/Debt. Net Cash is composed as follow:
|
|
|
|
|
|
|
|
|
|
|
2024 |
|
|
2023 |
|
Cash and cash equivalents |
|
|
425,172 |
|
|
|
536,160 |
|
Financial assets at fair value through profit or loss |
|
|
129,319 |
|
|
|
102,677 |
|
Financial liabilities |
|
|
(50,455 |
) |
|
|
— |
|
Lease liabilities |
|
|
(4,000 |
) |
|
|
(3,957 |
) |
Net Derivative financial instrument |
|
|
(3,353 |
) |
|
|
(948 |
) |
Net cash |
|
|
496,683 |
|
|
|
633,932 |
|
Cash and liquid investments |
|
|
554,491 |
|
|
|
638,837 |
|
Gross debt |
|
|
(57,808 |
) |
|
|
(4,905 |
) |
Net cash |
|
|
496,683 |
|
|
|
633,932 |
|
|