Statement of financial position - Assets

 

Amounts in thousand eurosNotes31.12.202531.12.2024
Assets  
Non-current Assets   
Property, plant and equipment8799,102721,578
Right-of-use assets923,10816,519
Intangible assets107,8098,964
Goodwill118,0778,077
Investments in associates and joint ventures126,60726,897
Other investments13463461
Non-current financial assets141,8083,544
Deferred tax assets1537,33431,190
Other non-current assets161,1313,482
Total non-current assets 885,439820,712
Current Assets  
Inventories17409,785375,983
Trade receivables18190,883242,577
Receivables from associates1934649,625
Tax receivables202,7072,626
Current financial assets213,6585,563
Other current assets22102,81955,698
Cash and cash equivalents and short-term deposits23121,74950,720
Total current assets 831,947782,792
Total assets 1,717,3861,603,504

 

Statement of financial position – Labilities and shareholders' equity

 

Amounts in thousand euros Notes31.12.202531.12.2024
Shareholders' equity and liabilities  
Shareholders' equity    
Share capital 2450,00050,000
Other reserves 24843,680883,061
Profit/loss for the year 24(2,187)(37,798)
Total Group Shareholders' Equity  891,943895,263
Minority interest Shareholders' equity 2420,724331
Minority interest profit 242,58856
Total shareholders' equity  914,805895,650
Non-current liabilities    
Non-current financial payables 25201,12584,686
Non-current lease payables 913,7609,985
Liabilities for employee benefits 264,9745,090
Provisions for risks and charges 274,9223,481
Deferred tax liabilities 153,0601,903
Other non-current liabilities 288859
Total non-current liabilities  227,849106,003
Current liabilities    
Current financial payables 2698,744107,820
Current lease payables 95,0633,781
Trade payables 29355,134385,381
Trade payables to associates 3051,66352,703
Tax payables 315,4778,480
Other current liabilities 3258,65143,685
Total current liabilities  574,732601,850
Total shareholders' equity and liabilities  1,717,3861,603,504

 

Consolidated income statement

 

Amounts in thousand eurosNotes31.12.202531.12.2024
Revenues from contracts with customers331,703,1871,652,984
Rental income34868806
Other income3519,94127,764
Changes in inventories of finished and semi-finished products (4,411)42,678
Raw materials and consumables36(1,093,799)(1,176,036)
Cost of services37(383,391)(382,162)
Personnel costs38(153,065)(138,277)
Other operating costs39(5,897)(6,208)
Increases in fixed assets for in-house work404,2536,227
Depreciation, amortisation and write-downs41(71,637)(70,306)
Reversal/(Write-down) of financial assets42(444)(132)
Financial income434771,199
Financial expenses44(14,708)(7,676)
Share of profit of associates and joint ventures455313,069
Exchange gains and (losses)46231(144)
Profit before tax from operating activities 2,136(46,214)
Income taxes47(1,735)8,472
Net result from operating activities 401(37,742)
Net result 401(37,742)
Result for the Group (2,187)(37,798)
Minority interest result 2,58856

 

Statement of other comprehensive income

 

Amounts in thousand eurosNotes31.12.202531.12.2024
Net result 401(37,742)
Other comprehensive income components   
Other comprehensive income components that will be reclassified to profit/loss for the year: (Net of tax)   
Net profit from the hedging of net investments   
Translation differences in foreign financial statements2377(39)
Net (loss)/gain from cash flow hedges23(1,214)(2,315)
Total other comprehensive income components that will later be reclassified to profit/(loss) for the year net of tax (1,137)(2,354)
Other comprehensive income components that will later not be reclassified to profit/(loss) for the year net of tax   
(Loss)/gain from revaluation on defined benefit plans23-67
Total other comprehensive income components that will later not be reclassified to profit/(loss) for the year net of tax -67
Total other income statement items after tax (1,137)(2,287)
Total comprehensive profit/(loss) after tax (736)(40,029)
Result for the Group (3,324)(40,118)
Minority interest result 2,58889

 

Cash flow statement

 

Amounts in thousand eurosNotes31.12.202531.12.2024
Net result 401(37,742)
Adjustments to reconcile pre-tax profit with net cash flows:   
Depreciation and impairment of property, plant and equipment41-864,50262,532
Amortization and impairment of intangible assets41-102,9463,864
Amortisation of right of use41-94,1893,783
Further write-downs of fixed assets 444127
Capital loss/gain on disposal of assets41(3,452)(564)
Financial income43(477)(1,199)
Financial expenses4414,7087,676
Finance costs on financial lease liabilities 350275
Income taxes471,735(8,472)
Share of profit for the year of associates and joint ventures45(531)(3,069)
Write-down of current assets42444132
Net change in employee severance indemnity and pension funds26(253)(115)
Net change in provisions for risks and charges277(3,133)
Net change in deferred tax assets and liabilities15(5,808)(1,622)
Interest income received 297744
Interest paid (13,855)(6,127)
Income taxes paid (6,564)(7,157)
Changes in working capital:   
(Increase)/decrease in inventories17(20,749)(80,787)
(Increase)/decrease in trade receivables1889,91764,991
(Increase)/decrease in other non-financial assets 2,3447,667
Increase/(decrease) in trade payables29(36,941)97,310
Increase/(decrease) in tax payables312.847(4,034)
Increase/(decrease) in other non-financial liabilities 4,115323
Other decreases/(Other increases) in net working capital (33,338)9,914
CASH FLOW GENERATED/ABSORBED BY OPERATING ACTIVITIES 60,877143,060
Investing activities:   
Net investments in tangible fixed assets8(115,765)(222,410)
Net investments in intangible assets10(1,768)(1,511)
Net investments in financial fixed assets9(2)(27)
Acquisition of subsidiaries, net of cash acquired 9,652-
CASH FLOW GENERATED/ABSORBED BY INVESTING ACTIVITIES (107,883)(223,948)
Financing activities:   
New loans25229,697838
Repayment of loans25(101,488)(51,341)
(Increase)/decrease in financial receivables (incl. derivative assets) 2,6103,259
Increase/(decrease) in financial payables (incl. derivative liabilities) (33,446)39,491
Principal payments - lease liabilities (6,076)(3,746)
Dividends paid to shareholders (500)-
Capital increase/decrease -7,700
Sale (purchase) of treasury shares 37-
Other changes in Shareholders' equity 20,800(39)
CASH FLOW GENERATED/ABSORBED BY FINANCING ACTIVITIES 111,634(3,839)
NET CHANGE IN CASH AND CASH EQUIVALENTS 71,029(122,469)
Net cash and cash equivalents at the beginning of the period 50,720173,189
Net cash and cash equivalents at the end of the period 121,74950,720

Learn more

CONSOLIDATED FINANCIAL STATEMENTS