v3.25.2
Employee Benefits (Tables)
 6 Months Ended
Jun. 30, 2025
Retirement Benefits [Abstract]  
Schedule of Accumulated and Projected Benefit Obligations
The following table summarizes the changes in the projected benefit obligation:
Projected benefit obligation
(in thousands)
Accumulated postretirement benefit obligation at January 1, 2024
$4,123 
Service cost
687 
Interest cost
158 
Curtailment
(192)
Actuarial losses (gains)
216 
Currency translation adjustment
(283)
Accumulated postretirement benefit obligation at December 31, 2024
$4,709 
Service cost
378 
Interest cost
97 
Actuarial losses (gains)
(328)
Currency translation adjustment
615 
Accumulated postretirement benefit obligation at June 30, 2025
$5,471 
Schedule of Assumptions Used for Actuarial Valuations
The main assumptions used for the purposes of the actuarial valuations are listed below:
Six Months EndedYear Ended
June 30, 2025December 31, 2024
Discount rate (Corp AA)
4.2%3.9%
Expected rate of salary increase
7.0%7.0%
Expected rate of social charges
49.0%49.0%
Expected staff turnover
—% - 18.6%
—% - 18.6%
Estimated retirement age
65 years old65 years old
Life table
TH-TF 2000-2002 shiftedTH-TF 2000-2002 shifted
Schedule of Defined Contribution Plan
Three Months EndedSix Months Ended
June 30, 2025June 30, 2024June 30, 2025June 30, 2024
(in thousands)
Defined contributions plans included in personnel expenses
$6,725 $6,064 $10,967 $10,290