| Employee costs |
Note 7—Employee costs
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(EUR’000) |
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2025 |
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2024 |
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2023 |
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Employee costs |
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Wages and salaries |
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227,118 |
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173,474 |
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170,278 |
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Share-based payment |
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116,171 |
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95,512 |
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66,660 |
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Pensions (defined contribution plans) |
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6,921 |
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4,485 |
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4,403 |
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Social security costs |
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21,134 |
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15,003 |
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12,877 |
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Other employee costs |
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5,221 |
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4,061 |
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4,238 |
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Total employee costs |
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376,565 |
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292,535 |
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258,456 |
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Included in the profit or loss |
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Cost of sales (1) |
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20,474 |
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16,487 |
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15,748 |
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Research and development expenses |
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145,673 |
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131,867 |
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127,002 |
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Selling, general and administrative expenses |
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210,418 |
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144,181 |
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115,706 |
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Total employee costs |
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376,565 |
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292,535 |
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258,456 |
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Average number of employees |
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1,103 |
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892 |
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851 |
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(1)Includes employee costs capitalized as part of inventories. Key Management Personnel comprises the Board of Directors and the Executive Board and Non-executive Senior Management (“Senior Management”). Compensation to Key Management Personnel comprises salaries, participation in annual bonus schemes, pensions (defined contributions plans), and share-based compensation. Share-based compensation is elaborated in further details in Note 8, “Share-based Payment.” Compensation to Key Management Personnel included in total employee costs is summarized below:
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Board of Directors (1) |
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Executive Board (2) |
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Non-executive Senior Management |
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(EUR’000) |
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2025 |
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2024 |
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2023 |
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2025 |
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2024 |
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2023 |
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2025 |
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2024 |
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2023 |
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Compensation |
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Wages and salaries |
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442 |
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482 |
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|
543 |
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5,466 |
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4,148 |
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4,375 |
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6,466 |
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3,286 |
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4,673 |
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Share-based payment |
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2,425 |
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2,169 |
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1,276 |
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18,568 |
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18,334 |
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13,243 |
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14,464 |
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10,266 |
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9,529 |
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Pensions (defined
contribution plans) |
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— |
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— |
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— |
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73 |
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57 |
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54 |
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|
136 |
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|
98 |
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|
122 |
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Social security costs |
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— |
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— |
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— |
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|
598 |
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|
118 |
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|
103 |
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|
316 |
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52 |
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45 |
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Other employee cost |
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— |
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— |
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— |
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20 |
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20 |
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20 |
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40 |
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25 |
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40 |
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Total compensation |
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2,867 |
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2,651 |
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1,819 |
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24,725 |
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22,677 |
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17,795 |
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21,422 |
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13,727 |
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14,409 |
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(1)The Board of Directors comprised six persons in 2025, 2024 and 2023. (2)The Executive Board comprised four persons in 2025, 2024 and 2023. |