Financial Risk Management (Tables)
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6 Months Ended |
Jun. 30, 2026 |
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| Disclosure of Financial Risk Management [Abstract] |
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| Summary of Credit Risk |
The maximum credit risk exposure is as follows:
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June 30, 2026 |
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December 31, 2025 |
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(In thousand Euros) |
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Non-current |
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Current |
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Non-current |
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Current |
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Customer sales and services |
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— |
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28,704 |
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— |
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28,416 |
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Other receivables |
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— |
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118 |
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— |
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19 |
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Loans to employees |
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180 |
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— |
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180 |
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— |
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Trade and other financial receivables |
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180 |
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28,822 |
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180 |
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28,435 |
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Guarantee deposit |
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1,303 |
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— |
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1,387 |
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— |
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Non-current financial assets |
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1,303 |
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— |
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1,387 |
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— |
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Guarantee deposit |
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— |
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165 |
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— |
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164 |
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Financial investments |
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— |
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4,951 |
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— |
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4,969 |
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Other current financial assets |
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— |
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5,116 |
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— |
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5,133 |
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Total |
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1,483 |
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33,938 |
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1,567 |
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33,568 |
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| Summary of Interest Rate Risk, Group Loans and Borrowings Balance |
Interest rate risk arises from possible losses due to changes in the fair value or the future cash flows of a financial instrument because of fluctuations in market interest rates. The Group loans and borrowings balance as of June 30, 2026 and December 31, 2025 is broken down as follows:
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(In thousand Euros) |
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Currency |
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June 30, 2026 |
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December 31, 2025 |
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Fixed rate Loan |
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EUR |
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129,215 |
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15,996 |
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Floating rate loan |
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EUR |
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62,036 |
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148,670 |
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191,251 |
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164,666 |
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This analysis assumes that all other variables are held constant and considers only the effect of interest rates.
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June 30, 2026 |
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June 30, 2025 |
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Profit or loss |
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Profit or loss |
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(In thousand Euros) |
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100 bp increase |
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100 bp decrease |
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100 bp increase |
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100 bp decrease |
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Floating rate loan |
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665 |
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(665 |
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907 |
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(907 |
) |
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| Summary of Impact of a Reasonably Possible Strengthening (Weakening) |
The following table shows the impact of a reasonably possible strengthening or weakening of the Euro in each of the foreign currencies as of June 30. This analysis assumes that all other variables, particularly interest rates, remain constant and ignores any impact from anticipated sales and purchases. The Group’s exposure to foreign currency exchange for all other currencies is not significant.
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June 30, 2026 |
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June 30, 2025 |
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Profit or loss |
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Profit or loss |
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(In thousand Euros) |
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Strengthening |
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Weakening |
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Strengthening |
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Weakening |
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USD (10% movement) |
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3,290 |
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(4,021 |
) |
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2,335 |
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(2,853 |
) |
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| Summary of Liquidity Risk |
Details of working capital are as follows:
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(In thousand Euros) |
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June 30, 2026 |
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December 31, 2025 |
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Current assets |
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109,804 |
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97,423 |
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Current liabilities |
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113,866 |
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172,149 |
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Total |
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(4,062 |
) |
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(74,726 |
) |
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| Summary of Maturity Analysis for Derivative Financial Liabilities |
Details of the maturities, by year, of the principal and interest of the loans and borrowings as of June 30, 2026 is as follows:
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June 30, 2026 |
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(In thousand Euros) |
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Capital |
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Interest |
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Total |
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1 July 2026 - 30 June 2027 |
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48,941 |
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2,164 |
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51,105 |
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1 July 2027 - 30 June 2028 |
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4,418 |
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2,653 |
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7,071 |
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1 July 2028 - 30 June 2029 |
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11,570 |
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3,460 |
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15,030 |
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1 July 2029 - 30 June 2030 |
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28,748 |
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3,353 |
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32,101 |
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1 July 2030 - Dec 2030 |
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95,410 |
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8,098 |
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103,508 |
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More than five years |
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— |
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— |
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— |
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189,087 |
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19,728 |
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208,815 |
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