{
"documentInfo": {
"documentType": "https://xbrl.org/2021/xbrl-json",
"features": {
"xbrl:canonicalValues": true
},
"namespaces": {
"NEX": "http://nexi.it/2024-12-31",
"ifrs-full": "https://xbrl.ifrs.org/taxonomy/2022-03-24/ifrs-full",
"iso4217": "http://www.xbrl.org/2003/iso4217",
"scheme": "http://standards.iso.org/iso/17442",
"xbrl": "https://xbrl.org/2021",
"xbrli": "http://www.xbrl.org/2003/instance"
},
"taxonomy": [
"http://nexi.it/2024-12-31/5493000P70CQRQG8SN85-2024-12-31.xsd"
]
},
"facts": {
"f0__s2__3__5": {
"value": "74675000.0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:CashAndCashEquivalents",
"entity": "scheme:5493000P70CQRQG8SN85",
"period": "2025-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"f0__s2__4__5": {
"value": "800172000.0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:CashAndCashEquivalents",
"entity": "scheme:5493000P70CQRQG8SN85",
"period": "2024-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"f0__s2__3__6": {
"value": "119907000.0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:FinancialAssetsAtFairValue",
"entity": "scheme:5493000P70CQRQG8SN85",
"period": "2025-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"f0__s2__4__6": {
"value": "129189000.0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:FinancialAssetsAtFairValue",
"entity": "scheme:5493000P70CQRQG8SN85",
"period": "2024-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"f0__s2__3__7": {
"value": "5237122000.0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:FinancialAssetsAtAmortisedCost",
"entity": "scheme:5493000P70CQRQG8SN85",
"period": "2025-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"f0__s2__4__7": {
"value": "5708585000.0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:FinancialAssetsAtAmortisedCost",
"entity": "scheme:5493000P70CQRQG8SN85",
"period": "2024-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"f0__s2__3__8": {
"value": "2729690000.0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:LoansAndAdvancesToBanks",
"entity": "scheme:5493000P70CQRQG8SN85",
"period": "2025-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"f0__s2__4__8": {
"value": "2225657000.0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:LoansAndAdvancesToBanks",
"entity": "scheme:5493000P70CQRQG8SN85",
"period": "2024-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"f0__s2__3__9": {
"value": "2507432000.0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:LoansAndAdvancesToCustomers",
"entity": "scheme:5493000P70CQRQG8SN85",
"period": "2025-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"f0__s2__4__9": {
"value": "3482928000.0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:LoansAndAdvancesToCustomers",
"entity": "scheme:5493000P70CQRQG8SN85",
"period": "2024-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"f0__s2__3__10": {
"value": "0.0",
"dimensions": {
"concept": "ifrs-full:DerivativeFinancialAssetsHeldForHedging",
"entity": "scheme:5493000P70CQRQG8SN85",
"period": "2025-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"f0__s2__4__10": {
"value": "1571000.0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:DerivativeFinancialAssetsHeldForHedging",
"entity": "scheme:5493000P70CQRQG8SN85",
"period": "2024-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"f0__s2__3__11": {
"value": "70154000.0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:InvestmentAccountedForUsingEquityMethod",
"entity": "scheme:5493000P70CQRQG8SN85",
"period": "2025-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"f0__s2__4__11": {
"value": "71960000.0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:InvestmentAccountedForUsingEquityMethod",
"entity": "scheme:5493000P70CQRQG8SN85",
"period": "2024-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"f0__s2__3__12": {
"value": "510359000.0",
"decimals": -3,
"dimensions": {
"concept": "NEX:PropertyPlantAndEquipmentInvestmentPropertyAndRightOfUseAssets",
"entity": "scheme:5493000P70CQRQG8SN85",
"period": "2025-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"f0__s2__4__12": {
"value": "549053000.0",
"decimals": -3,
"dimensions": {
"concept": "NEX:PropertyPlantAndEquipmentInvestmentPropertyAndRightOfUseAssets",
"entity": "scheme:5493000P70CQRQG8SN85",
"period": "2024-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"f0__s2__3__13": {
"value": "16168542000.0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:IntangibleAssetsAndGoodwill",
"entity": "scheme:5493000P70CQRQG8SN85",
"period": "2025-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"f0__s2__4__13": {
"value": "16584054000.0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:IntangibleAssetsAndGoodwill",
"entity": "scheme:5493000P70CQRQG8SN85",
"period": "2024-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"f0__s2__3__14": {
"value": "11983463000.0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:Goodwill",
"entity": "scheme:5493000P70CQRQG8SN85",
"period": "2025-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"f0__s2__4__14": {
"value": "11999223000.0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:Goodwill",
"entity": "scheme:5493000P70CQRQG8SN85",
"period": "2024-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"f0__s2__3__15": {
"value": "267344000.0",
"decimals": -3,
"dimensions": {
"concept": "NEX:CurrentTaxAssetsAndDeferredTaxAssets",
"entity": "scheme:5493000P70CQRQG8SN85",
"period": "2025-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"f0__s2__4__15": {
"value": "248922000.0",
"decimals": -3,
"dimensions": {
"concept": "NEX:CurrentTaxAssetsAndDeferredTaxAssets",
"entity": "scheme:5493000P70CQRQG8SN85",
"period": "2024-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"f0__s2__3__16": {
"value": "16464000.0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:CurrentTaxAssets",
"entity": "scheme:5493000P70CQRQG8SN85",
"period": "2025-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"f0__s2__4__16": {
"value": "15837000.0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:CurrentTaxAssets",
"entity": "scheme:5493000P70CQRQG8SN85",
"period": "2024-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"f0__s2__3__17": {
"value": "250880000.0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:DeferredTaxAssets",
"entity": "scheme:5493000P70CQRQG8SN85",
"period": "2025-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"f0__s2__4__17": {
"value": "233085000.0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:DeferredTaxAssets",
"entity": "scheme:5493000P70CQRQG8SN85",
"period": "2024-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"f0__s2__3__18": {
"value": "6307000.0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:NoncurrentAssetsOrDisposalGroupsClassifiedAsHeldForSale",
"entity": "scheme:5493000P70CQRQG8SN85",
"period": "2025-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"f0__s2__4__18": {
"value": "105139000.0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:NoncurrentAssetsOrDisposalGroupsClassifiedAsHeldForSale",
"entity": "scheme:5493000P70CQRQG8SN85",
"period": "2024-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"f0__s2__3__19": {
"value": "2040908000.0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:OtherAssets",
"entity": "scheme:5493000P70CQRQG8SN85",
"period": "2025-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"f0__s2__4__19": {
"value": "2151143000.0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:OtherAssets",
"entity": "scheme:5493000P70CQRQG8SN85",
"period": "2024-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"f0__s2__3__20": {
"value": "24495318000.0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:Assets",
"entity": "scheme:5493000P70CQRQG8SN85",
"period": "2025-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"f0__s2__4__20": {
"value": "26349788000.0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:Assets",
"entity": "scheme:5493000P70CQRQG8SN85",
"period": "2024-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"f0__s2__3__23": {
"value": "10205038000.0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:FinancialLiabilitiesAtAmortisedCost",
"entity": "scheme:5493000P70CQRQG8SN85",
"period": "2025-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"f0__s2__4__23": {
"value": "11095636000.0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:FinancialLiabilitiesAtAmortisedCost",
"entity": "scheme:5493000P70CQRQG8SN85",
"period": "2024-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"f0__s2__3__24": {
"value": "4541899000.0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:DepositsFromBanks",
"entity": "scheme:5493000P70CQRQG8SN85",
"period": "2025-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"f0__s2__4__24": {
"value": "4130544000.0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:DepositsFromBanks",
"entity": "scheme:5493000P70CQRQG8SN85",
"period": "2024-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"f0__s2__3__25": {
"value": "2279906000.0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:DepositsFromCustomers",
"entity": "scheme:5493000P70CQRQG8SN85",
"period": "2025-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"f0__s2__4__25": {
"value": "2919348000.0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:DepositsFromCustomers",
"entity": "scheme:5493000P70CQRQG8SN85",
"period": "2024-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"f0__s2__3__26": {
"value": "3383233000.0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:DebtSecurities",
"entity": "scheme:5493000P70CQRQG8SN85",
"period": "2025-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"f0__s2__4__26": {
"value": "4045744000.0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:DebtSecurities",
"entity": "scheme:5493000P70CQRQG8SN85",
"period": "2024-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"f0__s2__3__27": {
"value": "241492000.0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:FinancialLiabilitiesAtFairValue",
"entity": "scheme:5493000P70CQRQG8SN85",
"period": "2025-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"f0__s2__4__27": {
"value": "246313000.0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:FinancialLiabilitiesAtFairValue",
"entity": "scheme:5493000P70CQRQG8SN85",
"period": "2024-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"f0__s2__3__28": {
"value": "23167000.0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:DerivativeFinancialLiabilitiesHeldForHedging",
"entity": "scheme:5493000P70CQRQG8SN85",
"period": "2025-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"f0__s2__4__28": {
"value": "24419000.0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:DerivativeFinancialLiabilitiesHeldForHedging",
"entity": "scheme:5493000P70CQRQG8SN85",
"period": "2024-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"f0__s2__3__29": {
"value": "986012000.0",
"decimals": -3,
"dimensions": {
"concept": "NEX:CurrentTaxLiabilitiesAndDeferredTaxLiabilities",
"entity": "scheme:5493000P70CQRQG8SN85",
"period": "2025-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"f0__s2__4__29": {
"value": "1089958000.0",
"decimals": -3,
"dimensions": {
"concept": "NEX:CurrentTaxLiabilitiesAndDeferredTaxLiabilities",
"entity": "scheme:5493000P70CQRQG8SN85",
"period": "2024-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"f0__s2__3__30": {
"value": "63967000.0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:CurrentTaxLiabilities",
"entity": "scheme:5493000P70CQRQG8SN85",
"period": "2025-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"f0__s2__4__30": {
"value": "37777000.0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:CurrentTaxLiabilities",
"entity": "scheme:5493000P70CQRQG8SN85",
"period": "2024-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"f0__s2__3__31": {
"value": "922045000.0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:DeferredTaxLiabilities",
"entity": "scheme:5493000P70CQRQG8SN85",
"period": "2025-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"f0__s2__4__31": {
"value": "1052181000.0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:DeferredTaxLiabilities",
"entity": "scheme:5493000P70CQRQG8SN85",
"period": "2024-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"f0__s2__3__32": {
"value": "871000.0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:LiabilitiesIncludedInDisposalGroupsClassifiedAsHeldForSale",
"entity": "scheme:5493000P70CQRQG8SN85",
"period": "2025-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"f0__s2__4__32": {
"value": "14774000.0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:LiabilitiesIncludedInDisposalGroupsClassifiedAsHeldForSale",
"entity": "scheme:5493000P70CQRQG8SN85",
"period": "2024-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"f0__s2__3__33": {
"value": "1887892000.0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:OtherLiabilities",
"entity": "scheme:5493000P70CQRQG8SN85",
"period": "2025-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"f0__s2__4__33": {
"value": "2373133000.0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:OtherLiabilities",
"entity": "scheme:5493000P70CQRQG8SN85",
"period": "2024-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"f0__s2__3__34": {
"value": "29696000.0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:ProvisionsForEmployeeBenefits",
"entity": "scheme:5493000P70CQRQG8SN85",
"period": "2025-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"f0__s2__4__34": {
"value": "32000000.0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:ProvisionsForEmployeeBenefits",
"entity": "scheme:5493000P70CQRQG8SN85",
"period": "2024-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"f0__s2__3__35": {
"value": "164202000.0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:OtherProvisions",
"entity": "scheme:5493000P70CQRQG8SN85",
"period": "2025-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"f0__s2__4__35": {
"value": "176409000.0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:OtherProvisions",
"entity": "scheme:5493000P70CQRQG8SN85",
"period": "2024-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"f0__s2__3__38": {
"value": "118719000.0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:IssuedCapital",
"entity": "scheme:5493000P70CQRQG8SN85",
"period": "2025-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"f0__s2__4__38": {
"value": "118647000.0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:IssuedCapital",
"entity": "scheme:5493000P70CQRQG8SN85",
"period": "2024-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"f0__s2__3__39": {
"value": "5005000.0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:TreasuryShares",
"entity": "scheme:5493000P70CQRQG8SN85",
"period": "2025-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"f0__s2__4__39": {
"value": "7013000.0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:TreasuryShares",
"entity": "scheme:5493000P70CQRQG8SN85",
"period": "2024-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"f0__s2__3__40": {
"value": "0.0",
"dimensions": {
"concept": "ifrs-full:SharePremium",
"entity": "scheme:5493000P70CQRQG8SN85",
"period": "2025-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"f0__s2__4__40": {
"value": "11587260000.0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:SharePremium",
"entity": "scheme:5493000P70CQRQG8SN85",
"period": "2024-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"f0__s2__3__41": {
"value": "10841124000.0",
"decimals": -3,
"dimensions": {
"concept": "NEX:OtherReservesAndRetainedEarningsExcludingProfitLossForReportingPeriod",
"entity": "scheme:5493000P70CQRQG8SN85",
"period": "2025-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"f0__s2__4__41": {
"value": "713900000.0",
"decimals": -3,
"dimensions": {
"concept": "NEX:OtherReservesAndRetainedEarningsExcludingProfitLossForReportingPeriod",
"entity": "scheme:5493000P70CQRQG8SN85",
"period": "2024-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"f0__s2__3__42": {
"value": "-188403000.0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:RevaluationSurplus",
"entity": "scheme:5493000P70CQRQG8SN85",
"period": "2025-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"f0__s2__4__42": {
"value": "-132390000.0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:RevaluationSurplus",
"entity": "scheme:5493000P70CQRQG8SN85",
"period": "2024-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"f0__s2__3__43": {
"value": "167361000.0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:RetainedEarningsProfitLossForReportingPeriod",
"entity": "scheme:5493000P70CQRQG8SN85",
"period": "2025-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"f0__s2__4__43": {
"value": "-1005989000.0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:RetainedEarningsProfitLossForReportingPeriod",
"entity": "scheme:5493000P70CQRQG8SN85",
"period": "2024-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"f0__s2__3__44": {
"value": "23152000.0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:NoncontrollingInterests",
"entity": "scheme:5493000P70CQRQG8SN85",
"period": "2025-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"f0__s2__4__44": {
"value": "22731000.0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:NoncontrollingInterests",
"entity": "scheme:5493000P70CQRQG8SN85",
"period": "2024-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"f0__s2__3__47": {
"value": "24495318000.0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:EquityAndLiabilities",
"entity": "scheme:5493000P70CQRQG8SN85",
"period": "2025-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"f0__s2__4__47": {
"value": "26349788000.0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:EquityAndLiabilities",
"entity": "scheme:5493000P70CQRQG8SN85",
"period": "2024-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"f0__s3__3__5": {
"value": "6197606000.0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:FeeAndCommissionIncome",
"entity": "scheme:5493000P70CQRQG8SN85",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"f0__s3__4__5": {
"value": "5813560000.0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:FeeAndCommissionIncome",
"entity": "scheme:5493000P70CQRQG8SN85",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"f0__s3__3__6": {
"value": "2501778000.0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:FeeAndCommissionExpense",
"entity": "scheme:5493000P70CQRQG8SN85",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"f0__s3__4__6": {
"value": "2345323000.0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:FeeAndCommissionExpense",
"entity": "scheme:5493000P70CQRQG8SN85",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"f0__s3__3__7": {
"value": "3695828000.0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:FeeAndCommissionIncomeExpense",
"entity": "scheme:5493000P70CQRQG8SN85",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"f0__s3__4__7": {
"value": "3468237000.0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:FeeAndCommissionIncomeExpense",
"entity": "scheme:5493000P70CQRQG8SN85",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"f0__s3__3__8": {
"value": "154438000.0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:RevenueFromInterest",
"entity": "scheme:5493000P70CQRQG8SN85",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"f0__s3__4__8": {
"value": "125313000.0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:RevenueFromInterest",
"entity": "scheme:5493000P70CQRQG8SN85",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"f0__s3__3__9": {
"value": "415173000.0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:InterestExpense",
"entity": "scheme:5493000P70CQRQG8SN85",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"f0__s3__4__9": {
"value": "383096000.0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:InterestExpense",
"entity": "scheme:5493000P70CQRQG8SN85",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"f0__s3__3__10": {
"value": "-260735000.0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:InterestRevenueExpense",
"entity": "scheme:5493000P70CQRQG8SN85",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"f0__s3__4__10": {
"value": "-257783000.0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:InterestRevenueExpense",
"entity": "scheme:5493000P70CQRQG8SN85",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"f0__s3__3__11": {
"value": "22039000.0",
"decimals": -3,
"dimensions": {
"concept": "NEX:GainsLossesOnHedgeIneffectivenessAndFinancialAssetsAndLiabilitiesAtAmortisedCostAndFairValueThroughProfitOrLoss",
"entity": "scheme:5493000P70CQRQG8SN85",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"f0__s3__4__11": {
"value": "48216000.0",
"decimals": -3,
"dimensions": {
"concept": "NEX:GainsLossesOnHedgeIneffectivenessAndFinancialAssetsAndLiabilitiesAtAmortisedCostAndFairValueThroughProfitOrLoss",
"entity": "scheme:5493000P70CQRQG8SN85",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"f0__s3__3__12": {
"value": "-81916000.0",
"decimals": -3,
"dimensions": {
"concept": "NEX:RevenueFromDividendsAndGainsLossesOnDisposalOfFinancialAssetsAtFairValueThroughOtherComprehensiveIncome",
"entity": "scheme:5493000P70CQRQG8SN85",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"f0__s3__4__12": {
"value": "-86124000.0",
"decimals": -3,
"dimensions": {
"concept": "NEX:RevenueFromDividendsAndGainsLossesOnDisposalOfFinancialAssetsAtFairValueThroughOtherComprehensiveIncome",
"entity": "scheme:5493000P70CQRQG8SN85",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"f0__s3__3__13": {
"value": "3375216000.0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:RevenueAndOperatingIncome",
"entity": "scheme:5493000P70CQRQG8SN85",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"f0__s3__4__13": {
"value": "3172546000.0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:RevenueAndOperatingIncome",
"entity": "scheme:5493000P70CQRQG8SN85",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"f0__s3__3__14": {
"value": "2045617000.0",
"decimals": -3,
"dimensions": {
"concept": "NEX:EmployeeBenefitsExpenseAndAdministrativeExpense",
"entity": "scheme:5493000P70CQRQG8SN85",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"f0__s3__4__14": {
"value": "1846835000.0",
"decimals": -3,
"dimensions": {
"concept": "NEX:EmployeeBenefitsExpenseAndAdministrativeExpense",
"entity": "scheme:5493000P70CQRQG8SN85",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"f0__s3__3__15": {
"value": "945325000.0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:EmployeeBenefitsExpense",
"entity": "scheme:5493000P70CQRQG8SN85",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"f0__s3__4__15": {
"value": "801725000.0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:EmployeeBenefitsExpense",
"entity": "scheme:5493000P70CQRQG8SN85",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"f0__s3__3__16": {
"value": "1100292000.0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:AdministrativeExpense",
"entity": "scheme:5493000P70CQRQG8SN85",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"f0__s3__4__16": {
"value": "1045110000.0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:AdministrativeExpense",
"entity": "scheme:5493000P70CQRQG8SN85",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"f0__s3__3__17": {
"value": "-4961000.0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:OtherOperatingIncomeExpense",
"entity": "scheme:5493000P70CQRQG8SN85",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"f0__s3__4__17": {
"value": "2855000.0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:OtherOperatingIncomeExpense",
"entity": "scheme:5493000P70CQRQG8SN85",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"f0__s3__3__18": {
"value": "5345000.0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:ImpairmentLossImpairmentGainAndReversalOfImpairmentLossDeterminedInAccordanceWithIFRS9",
"entity": "scheme:5493000P70CQRQG8SN85",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"f0__s3__4__18": {
"value": "3393000.0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:ImpairmentLossImpairmentGainAndReversalOfImpairmentLossDeterminedInAccordanceWithIFRS9",
"entity": "scheme:5493000P70CQRQG8SN85",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"f0__s3__3__19": {
"value": "-662000.0",
"decimals": -3,
"dimensions": {
"concept": "NEX:ChangesInProvisionsRecognisedInProfitOrLoss",
"entity": "scheme:5493000P70CQRQG8SN85",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"f0__s3__4__19": {
"value": "48616000.0",
"decimals": -3,
"dimensions": {
"concept": "NEX:ChangesInProvisionsRecognisedInProfitOrLoss",
"entity": "scheme:5493000P70CQRQG8SN85",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"f0__s3__3__20": {
"value": "911252000.0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:DepreciationAmortisationAndImpairmentLossReversalOfImpairmentLossRecognisedInProfitOrLoss",
"entity": "scheme:5493000P70CQRQG8SN85",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"f0__s3__4__20": {
"value": "2151752000.0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:DepreciationAmortisationAndImpairmentLossReversalOfImpairmentLossRecognisedInProfitOrLoss",
"entity": "scheme:5493000P70CQRQG8SN85",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"f0__s3__3__21": {
"value": "408703000.0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:ProfitLossFromOperatingActivities",
"entity": "scheme:5493000P70CQRQG8SN85",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"f0__s3__4__21": {
"value": "-875195000.0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:ProfitLossFromOperatingActivities",
"entity": "scheme:5493000P70CQRQG8SN85",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"f0__s3__3__22": {
"value": "-770000.0",
"decimals": -3,
"dimensions": {
"concept": "NEX:ShareOfProfitLossOfAssociatesAndJointVenturesAccountedForUsingEquityMethodAndGainsLossesOnDisposalsOfInvestments",
"entity": "scheme:5493000P70CQRQG8SN85",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"f0__s3__4__22": {
"value": "-14391000.0",
"decimals": -3,
"dimensions": {
"concept": "NEX:ShareOfProfitLossOfAssociatesAndJointVenturesAccountedForUsingEquityMethodAndGainsLossesOnDisposalsOfInvestments",
"entity": "scheme:5493000P70CQRQG8SN85",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"f0__s3__3__23": {
"value": "407933000.0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:ProfitLossBeforeTax",
"entity": "scheme:5493000P70CQRQG8SN85",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"f0__s3__4__23": {
"value": "-889586000.0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:ProfitLossBeforeTax",
"entity": "scheme:5493000P70CQRQG8SN85",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"f0__s3__3__24": {
"value": "217483000.0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:IncomeTaxExpenseContinuingOperations",
"entity": "scheme:5493000P70CQRQG8SN85",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"f0__s3__4__24": {
"value": "134331000.0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:IncomeTaxExpenseContinuingOperations",
"entity": "scheme:5493000P70CQRQG8SN85",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"f0__s3__3__25": {
"value": "-19410000.0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:ProfitLossFromDiscontinuedOperations",
"entity": "scheme:5493000P70CQRQG8SN85",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"f0__s3__4__25": {
"value": "21156000.0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:ProfitLossFromDiscontinuedOperations",
"entity": "scheme:5493000P70CQRQG8SN85",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"f0__s3__3__26": {
"value": "171040000.0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:ProfitLoss",
"entity": "scheme:5493000P70CQRQG8SN85",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"f0__s3__4__26": {
"value": "-1002761000.0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:ProfitLoss",
"entity": "scheme:5493000P70CQRQG8SN85",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"f0__s3__3__27": {
"value": "167361000.0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:ProfitLossAttributableToOwnersOfParent",
"entity": "scheme:5493000P70CQRQG8SN85",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"f0__s3__4__27": {
"value": "-1005989000.0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:ProfitLossAttributableToOwnersOfParent",
"entity": "scheme:5493000P70CQRQG8SN85",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"f0__s3__3__28": {
"value": "3679000.0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:ProfitLossAttributableToNoncontrollingInterests",
"entity": "scheme:5493000P70CQRQG8SN85",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"f0__s3__4__28": {
"value": "3228000.0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:ProfitLossAttributableToNoncontrollingInterests",
"entity": "scheme:5493000P70CQRQG8SN85",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"f0__s3__3__29": {
"value": "0.13",
"decimals": 2,
"dimensions": {
"concept": "ifrs-full:BasicEarningsLossPerShare",
"entity": "scheme:5493000P70CQRQG8SN85",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00",
"unit": "iso4217:EUR/xbrli:shares"
}
},
"f0__s3__4__29": {
"value": "-0.76",
"decimals": 2,
"dimensions": {
"concept": "ifrs-full:BasicEarningsLossPerShare",
"entity": "scheme:5493000P70CQRQG8SN85",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"unit": "iso4217:EUR/xbrli:shares"
}
},
"f0__s3__3__30": {
"value": "0.13",
"decimals": 2,
"dimensions": {
"concept": "ifrs-full:DilutedEarningsLossPerShare",
"entity": "scheme:5493000P70CQRQG8SN85",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00",
"unit": "iso4217:EUR/xbrli:shares"
}
},
"f0__s3__4__30": {
"value": "-0.72",
"decimals": 2,
"dimensions": {
"concept": "ifrs-full:DilutedEarningsLossPerShare",
"entity": "scheme:5493000P70CQRQG8SN85",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"unit": "iso4217:EUR/xbrli:shares"
}
},
"f0__s4__3__5": {
"value": "171040000.0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:ProfitLoss",
"entity": "scheme:5493000P70CQRQG8SN85",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"f0__s4__4__5": {
"value": "-1002761000.0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:ProfitLoss",
"entity": "scheme:5493000P70CQRQG8SN85",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"f0__s4__3__6": {
"value": "17371000.0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:OtherComprehensiveIncomeNetOfTaxGainsLossesFromInvestmentsInEquityInstruments",
"entity": "scheme:5493000P70CQRQG8SN85",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"f0__s4__4__6": {
"value": "19698000.0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:OtherComprehensiveIncomeNetOfTaxGainsLossesFromInvestmentsInEquityInstruments",
"entity": "scheme:5493000P70CQRQG8SN85",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"f0__s4__3__7": {
"value": "-7216000.0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:OtherComprehensiveIncomeNetOfTaxGainsLossesOnRemeasurementsOfDefinedBenefitPlans",
"entity": "scheme:5493000P70CQRQG8SN85",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"f0__s4__4__7": {
"value": "-1062000.0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:OtherComprehensiveIncomeNetOfTaxGainsLossesOnRemeasurementsOfDefinedBenefitPlans",
"entity": "scheme:5493000P70CQRQG8SN85",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"f0__s4__3__8": {
"value": "-43792000.0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:OtherComprehensiveIncomeNetOfTaxExchangeDifferencesOnTranslation",
"entity": "scheme:5493000P70CQRQG8SN85",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"f0__s4__4__8": {
"value": "23802000.0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:OtherComprehensiveIncomeNetOfTaxExchangeDifferencesOnTranslation",
"entity": "scheme:5493000P70CQRQG8SN85",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"f0__s4__3__9": {
"value": "6600000.0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:OtherComprehensiveIncomeNetOfTaxCashFlowHedges",
"entity": "scheme:5493000P70CQRQG8SN85",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"f0__s4__4__9": {
"value": "-23135000.0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:OtherComprehensiveIncomeNetOfTaxCashFlowHedges",
"entity": "scheme:5493000P70CQRQG8SN85",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"f0__s4__3__10": {
"value": "-27037000.0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:OtherComprehensiveIncome",
"entity": "scheme:5493000P70CQRQG8SN85",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"f0__s4__4__10": {
"value": "19303000.0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:OtherComprehensiveIncome",
"entity": "scheme:5493000P70CQRQG8SN85",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"f0__s4__3__11": {
"value": "144003000.0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:ComprehensiveIncome",
"entity": "scheme:5493000P70CQRQG8SN85",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"f0__s4__4__11": {
"value": "-983458000.0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:ComprehensiveIncome",
"entity": "scheme:5493000P70CQRQG8SN85",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"f0__s4__3__12": {
"value": "3731000.0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:ComprehensiveIncomeAttributableToNoncontrollingInterests",
"entity": "scheme:5493000P70CQRQG8SN85",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"f0__s4__4__12": {
"value": "3357000.0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:ComprehensiveIncomeAttributableToNoncontrollingInterests",
"entity": "scheme:5493000P70CQRQG8SN85",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"f0__s4__3__13": {
"value": "140272000.0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:ComprehensiveIncomeAttributableToOwnersOfParent",
"entity": "scheme:5493000P70CQRQG8SN85",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"f0__s4__4__13": {
"value": "-986815000.0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:ComprehensiveIncomeAttributableToOwnersOfParent",
"entity": "scheme:5493000P70CQRQG8SN85",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"f0__s5__3__5": {
"value": "11274415000.0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:Equity",
"entity": "scheme:5493000P70CQRQG8SN85",
"period": "2024-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:EquityAttributableToOwnersOfParentMember",
"ifrs-full:RetrospectiveApplicationAndRetrospectiveRestatementAxis": "ifrs-full:PreviouslyStatedMember",
"unit": "iso4217:EUR"
}
},
"f0__s5__5__5": {
"value": "11274415000.0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:Equity",
"entity": "scheme:5493000P70CQRQG8SN85",
"period": "2024-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:EquityAttributableToOwnersOfParentMember",
"unit": "iso4217:EUR"
}
},
"f0__s5__6__5": {
"value": "0.0",
"dimensions": {
"concept": "ifrs-full:IncreaseDecreaseThroughTransfersAndOtherChangesEquity",
"entity": "scheme:5493000P70CQRQG8SN85",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:EquityAttributableToOwnersOfParentMember",
"unit": "iso4217:EUR"
}
},
"f0__s5__7__5": {
"value": "0.0",
"dimensions": {
"concept": "ifrs-full:DividendsPaid",
"entity": "scheme:5493000P70CQRQG8SN85",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:EquityAttributableToOwnersOfParentMember",
"unit": "iso4217:EUR"
}
},
"f0__s5__8__5": {
"value": "-482899000.0",
"decimals": -3,
"dimensions": {
"concept": "NEX:IncreaseDecreaseThroughChangeInReservesEquity",
"entity": "scheme:5493000P70CQRQG8SN85",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:EquityAttributableToOwnersOfParentMember",
"unit": "iso4217:EUR"
}
},
"f0__s5__9__5": {
"value": "2008000.0",
"decimals": -3,
"dimensions": {
"concept": "NEX:IncreaseDecreaseThroughChangeInNetEquity",
"entity": "scheme:5493000P70CQRQG8SN85",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:EquityAttributableToOwnersOfParentMember",
"unit": "iso4217:EUR"
}
},
"f0__s5__10__5": {
"value": "167361000.0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:ProfitLoss",
"entity": "scheme:5493000P70CQRQG8SN85",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:EquityAttributableToOwnersOfParentMember",
"unit": "iso4217:EUR"
}
},
"f0__s5__11__5": {
"value": "-27089000.0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:OtherComprehensiveIncome",
"entity": "scheme:5493000P70CQRQG8SN85",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:EquityAttributableToOwnersOfParentMember",
"unit": "iso4217:EUR"
}
},
"f0__s5__12__5": {
"value": "10933796000.0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:Equity",
"entity": "scheme:5493000P70CQRQG8SN85",
"period": "2025-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:EquityAttributableToOwnersOfParentMember",
"unit": "iso4217:EUR"
}
},
"f0__s5__3__6": {
"value": "118647000.0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:Equity",
"entity": "scheme:5493000P70CQRQG8SN85",
"period": "2024-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:IssuedCapitalMember",
"ifrs-full:RetrospectiveApplicationAndRetrospectiveRestatementAxis": "ifrs-full:PreviouslyStatedMember",
"unit": "iso4217:EUR"
}
},
"f0__s5__5__6": {
"value": "118647000.0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:Equity",
"entity": "scheme:5493000P70CQRQG8SN85",
"period": "2024-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:IssuedCapitalMember",
"unit": "iso4217:EUR"
}
},
"f0__s5__9__6": {
"value": "72000.0",
"decimals": -3,
"dimensions": {
"concept": "NEX:IncreaseDecreaseThroughChangeInNetEquity",
"entity": "scheme:5493000P70CQRQG8SN85",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:IssuedCapitalMember",
"unit": "iso4217:EUR"
}
},
"f0__s5__12__6": {
"value": "118719000.0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:Equity",
"entity": "scheme:5493000P70CQRQG8SN85",
"period": "2025-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:IssuedCapitalMember",
"unit": "iso4217:EUR"
}
},
"f0__s5__3__7": {
"value": "-7013000.0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:Equity",
"entity": "scheme:5493000P70CQRQG8SN85",
"period": "2024-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:TreasurySharesMember",
"ifrs-full:RetrospectiveApplicationAndRetrospectiveRestatementAxis": "ifrs-full:PreviouslyStatedMember",
"unit": "iso4217:EUR"
}
},
"f0__s5__5__7": {
"value": "-7013000.0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:Equity",
"entity": "scheme:5493000P70CQRQG8SN85",
"period": "2024-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:TreasurySharesMember",
"unit": "iso4217:EUR"
}
},
"f0__s5__9__7": {
"value": "2008000.0",
"decimals": -3,
"dimensions": {
"concept": "NEX:IncreaseDecreaseThroughChangeInNetEquity",
"entity": "scheme:5493000P70CQRQG8SN85",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:TreasurySharesMember",
"unit": "iso4217:EUR"
}
},
"f0__s5__12__7": {
"value": "-5005000.0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:Equity",
"entity": "scheme:5493000P70CQRQG8SN85",
"period": "2025-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:TreasurySharesMember",
"unit": "iso4217:EUR"
}
},
"f0__s5__3__8": {
"value": "11587260000.0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:Equity",
"entity": "scheme:5493000P70CQRQG8SN85",
"period": "2024-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:SharePremiumMember",
"ifrs-full:RetrospectiveApplicationAndRetrospectiveRestatementAxis": "ifrs-full:PreviouslyStatedMember",
"unit": "iso4217:EUR"
}
},
"f0__s5__5__8": {
"value": "11587260000.0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:Equity",
"entity": "scheme:5493000P70CQRQG8SN85",
"period": "2024-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:SharePremiumMember",
"unit": "iso4217:EUR"
}
},
"f0__s5__6__8": {
"value": "-59097000.0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:IncreaseDecreaseThroughTransfersAndOtherChangesEquity",
"entity": "scheme:5493000P70CQRQG8SN85",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:SharePremiumMember",
"unit": "iso4217:EUR"
}
},
"f0__s5__8__8": {
"value": "-11528163000.0",
"decimals": -3,
"dimensions": {
"concept": "NEX:IncreaseDecreaseThroughChangeInReservesEquity",
"entity": "scheme:5493000P70CQRQG8SN85",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:SharePremiumMember",
"unit": "iso4217:EUR"
}
},
"f0__s5__12__8": {
"value": "0.0",
"dimensions": {
"concept": "ifrs-full:Equity",
"entity": "scheme:5493000P70CQRQG8SN85",
"period": "2025-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:SharePremiumMember",
"unit": "iso4217:EUR"
}
},
"f0__s5__3__9": {
"value": "713900000.0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:Equity",
"entity": "scheme:5493000P70CQRQG8SN85",
"period": "2024-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "NEX:OtherReservesAndRetainedEarningsExcludingProfitLossForReportingPeriodMember",
"ifrs-full:RetrospectiveApplicationAndRetrospectiveRestatementAxis": "ifrs-full:PreviouslyStatedMember",
"unit": "iso4217:EUR"
}
},
"f0__s5__5__9": {
"value": "713900000.0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:Equity",
"entity": "scheme:5493000P70CQRQG8SN85",
"period": "2024-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "NEX:OtherReservesAndRetainedEarningsExcludingProfitLossForReportingPeriodMember",
"unit": "iso4217:EUR"
}
},
"f0__s5__6__9": {
"value": "-946892000.0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:IncreaseDecreaseThroughTransfersAndOtherChangesEquity",
"entity": "scheme:5493000P70CQRQG8SN85",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "NEX:OtherReservesAndRetainedEarningsExcludingProfitLossForReportingPeriodMember",
"unit": "iso4217:EUR"
}
},
"f0__s5__8__9": {
"value": "11074188000.0",
"decimals": -3,
"dimensions": {
"concept": "NEX:IncreaseDecreaseThroughChangeInReservesEquity",
"entity": "scheme:5493000P70CQRQG8SN85",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "NEX:OtherReservesAndRetainedEarningsExcludingProfitLossForReportingPeriodMember",
"unit": "iso4217:EUR"
}
},
"f0__s5__9__9": {
"value": "-72000.0",
"decimals": -3,
"dimensions": {
"concept": "NEX:IncreaseDecreaseThroughChangeInNetEquity",
"entity": "scheme:5493000P70CQRQG8SN85",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "NEX:OtherReservesAndRetainedEarningsExcludingProfitLossForReportingPeriodMember",
"unit": "iso4217:EUR"
}
},
"f0__s5__12__9": {
"value": "10841124000.0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:Equity",
"entity": "scheme:5493000P70CQRQG8SN85",
"period": "2025-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "NEX:OtherReservesAndRetainedEarningsExcludingProfitLossForReportingPeriodMember",
"unit": "iso4217:EUR"
}
},
"f0__s5__3__10": {
"value": "-132390000.0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:Equity",
"entity": "scheme:5493000P70CQRQG8SN85",
"period": "2024-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:RevaluationSurplusMember",
"ifrs-full:RetrospectiveApplicationAndRetrospectiveRestatementAxis": "ifrs-full:PreviouslyStatedMember",
"unit": "iso4217:EUR"
}
},
"f0__s5__5__10": {
"value": "-132390000.0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:Equity",
"entity": "scheme:5493000P70CQRQG8SN85",
"period": "2024-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:RevaluationSurplusMember",
"unit": "iso4217:EUR"
}
},
"f0__s5__8__10": {
"value": "-28924000.0",
"decimals": -3,
"dimensions": {
"concept": "NEX:IncreaseDecreaseThroughChangeInReservesEquity",
"entity": "scheme:5493000P70CQRQG8SN85",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:RevaluationSurplusMember",
"unit": "iso4217:EUR"
}
},
"f0__s5__11__10": {
"value": "-27089000.0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:OtherComprehensiveIncome",
"entity": "scheme:5493000P70CQRQG8SN85",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:RevaluationSurplusMember",
"unit": "iso4217:EUR"
}
},
"f0__s5__12__10": {
"value": "-188403000.0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:Equity",
"entity": "scheme:5493000P70CQRQG8SN85",
"period": "2025-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:RevaluationSurplusMember",
"unit": "iso4217:EUR"
}
},
"f0__s5__3__11": {
"value": "-1005989000.0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:Equity",
"entity": "scheme:5493000P70CQRQG8SN85",
"period": "2024-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:RetainedEarningsProfitLossForReportingPeriodMember",
"ifrs-full:RetrospectiveApplicationAndRetrospectiveRestatementAxis": "ifrs-full:PreviouslyStatedMember",
"unit": "iso4217:EUR"
}
},
"f0__s5__5__11": {
"value": "-1005989000.0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:Equity",
"entity": "scheme:5493000P70CQRQG8SN85",
"period": "2024-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:RetainedEarningsProfitLossForReportingPeriodMember",
"unit": "iso4217:EUR"
}
},
"f0__s5__6__11": {
"value": "1005989000.0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:IncreaseDecreaseThroughTransfersAndOtherChangesEquity",
"entity": "scheme:5493000P70CQRQG8SN85",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:RetainedEarningsProfitLossForReportingPeriodMember",
"unit": "iso4217:EUR"
}
},
"f0__s5__10__11": {
"value": "167361000.0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:ProfitLoss",
"entity": "scheme:5493000P70CQRQG8SN85",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:RetainedEarningsProfitLossForReportingPeriodMember",
"unit": "iso4217:EUR"
}
},
"f0__s5__12__11": {
"value": "167361000.0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:Equity",
"entity": "scheme:5493000P70CQRQG8SN85",
"period": "2025-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:RetainedEarningsProfitLossForReportingPeriodMember",
"unit": "iso4217:EUR"
}
},
"f0__s5__3__12": {
"value": "22731000.0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:Equity",
"entity": "scheme:5493000P70CQRQG8SN85",
"period": "2024-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:NoncontrollingInterestsMember",
"ifrs-full:RetrospectiveApplicationAndRetrospectiveRestatementAxis": "ifrs-full:PreviouslyStatedMember",
"unit": "iso4217:EUR"
}
},
"f0__s5__4__12": {
"value": "0.0",
"dimensions": {
"concept": "ifrs-full:Equity",
"entity": "scheme:5493000P70CQRQG8SN85",
"period": "2024-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:NoncontrollingInterestsMember",
"ifrs-full:RetrospectiveApplicationAndRetrospectiveRestatementAxis": "ifrs-full:IncreaseDecreaseDueToChangesInAccountingPolicyAndCorrectionsOfPriorPeriodErrorsMember",
"unit": "iso4217:EUR"
}
},
"f0__s5__5__12": {
"value": "22731000.0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:Equity",
"entity": "scheme:5493000P70CQRQG8SN85",
"period": "2024-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:NoncontrollingInterestsMember",
"unit": "iso4217:EUR"
}
},
"f0__s5__6__12": {
"value": "0.0",
"dimensions": {
"concept": "ifrs-full:IncreaseDecreaseThroughTransfersAndOtherChangesEquity",
"entity": "scheme:5493000P70CQRQG8SN85",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:NoncontrollingInterestsMember",
"unit": "iso4217:EUR"
}
},
"f0__s5__7__12": {
"value": "2936000.0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:DividendsPaid",
"entity": "scheme:5493000P70CQRQG8SN85",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:NoncontrollingInterestsMember",
"unit": "iso4217:EUR"
}
},
"f0__s5__8__12": {
"value": "-374000.0",
"decimals": -3,
"dimensions": {
"concept": "NEX:IncreaseDecreaseThroughChangeInReservesEquity",
"entity": "scheme:5493000P70CQRQG8SN85",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:NoncontrollingInterestsMember",
"unit": "iso4217:EUR"
}
},
"f0__s5__9__12": {
"value": "0.0",
"dimensions": {
"concept": "NEX:IncreaseDecreaseThroughChangeInNetEquity",
"entity": "scheme:5493000P70CQRQG8SN85",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:NoncontrollingInterestsMember",
"unit": "iso4217:EUR"
}
},
"f0__s5__10__12": {
"value": "3679000.0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:ProfitLoss",
"entity": "scheme:5493000P70CQRQG8SN85",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:NoncontrollingInterestsMember",
"unit": "iso4217:EUR"
}
},
"f0__s5__11__12": {
"value": "52000.0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:OtherComprehensiveIncome",
"entity": "scheme:5493000P70CQRQG8SN85",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:NoncontrollingInterestsMember",
"unit": "iso4217:EUR"
}
},
"f0__s5__12__12": {
"value": "23152000.0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:Equity",
"entity": "scheme:5493000P70CQRQG8SN85",
"period": "2025-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:NoncontrollingInterestsMember",
"unit": "iso4217:EUR"
}
},
"f0__s5__3__13": {
"value": "11297146000.0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:Equity",
"entity": "scheme:5493000P70CQRQG8SN85",
"period": "2024-01-01T00:00:00",
"ifrs-full:RetrospectiveApplicationAndRetrospectiveRestatementAxis": "ifrs-full:PreviouslyStatedMember",
"unit": "iso4217:EUR"
}
},
"f0__s5__4__13": {
"value": "0.0",
"dimensions": {
"concept": "ifrs-full:Equity",
"entity": "scheme:5493000P70CQRQG8SN85",
"period": "2024-01-01T00:00:00",
"ifrs-full:RetrospectiveApplicationAndRetrospectiveRestatementAxis": "ifrs-full:IncreaseDecreaseDueToChangesInAccountingPolicyAndCorrectionsOfPriorPeriodErrorsMember",
"unit": "iso4217:EUR"
}
},
"f0__s5__5__13": {
"value": "11297146000.0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:Equity",
"entity": "scheme:5493000P70CQRQG8SN85",
"period": "2024-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"f0__s5__6__13": {
"value": "0.0",
"dimensions": {
"concept": "ifrs-full:IncreaseDecreaseThroughTransfersAndOtherChangesEquity",
"entity": "scheme:5493000P70CQRQG8SN85",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"f0__s5__7__13": {
"value": "2936000.0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:DividendsPaid",
"entity": "scheme:5493000P70CQRQG8SN85",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"f0__s5__8__13": {
"value": "-483273000.0",
"decimals": -3,
"dimensions": {
"concept": "NEX:IncreaseDecreaseThroughChangeInReservesEquity",
"entity": "scheme:5493000P70CQRQG8SN85",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"f0__s5__9__13": {
"value": "2008000.0",
"decimals": -3,
"dimensions": {
"concept": "NEX:IncreaseDecreaseThroughChangeInNetEquity",
"entity": "scheme:5493000P70CQRQG8SN85",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"f0__s5__10__13": {
"value": "171040000.0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:ProfitLoss",
"entity": "scheme:5493000P70CQRQG8SN85",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"f0__s5__11__13": {
"value": "-27037000.0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:OtherComprehensiveIncome",
"entity": "scheme:5493000P70CQRQG8SN85",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"f0__s5__12__13": {
"value": "10956948000.0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:Equity",
"entity": "scheme:5493000P70CQRQG8SN85",
"period": "2025-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"f0__s5__3__19": {
"value": "12219590000.0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:Equity",
"entity": "scheme:5493000P70CQRQG8SN85",
"period": "2023-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:EquityAttributableToOwnersOfParentMember",
"ifrs-full:RetrospectiveApplicationAndRetrospectiveRestatementAxis": "ifrs-full:PreviouslyStatedMember",
"unit": "iso4217:EUR"
}
},
"f0__s5__4__19": {
"value": "15073000.0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:Equity",
"entity": "scheme:5493000P70CQRQG8SN85",
"period": "2023-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:EquityAttributableToOwnersOfParentMember",
"ifrs-full:RetrospectiveApplicationAndRetrospectiveRestatementAxis": "ifrs-full:IncreaseDecreaseDueToChangesInAccountingPolicyAndCorrectionsOfPriorPeriodErrorsMember",
"unit": "iso4217:EUR"
}
},
"f0__s5__5__19": {
"value": "12234663000.0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:Equity",
"entity": "scheme:5493000P70CQRQG8SN85",
"period": "2023-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:EquityAttributableToOwnersOfParentMember",
"unit": "iso4217:EUR"
}
},
"f0__s5__6__19": {
"value": "0.0",
"dimensions": {
"concept": "ifrs-full:IncreaseDecreaseThroughTransfersAndOtherChangesEquity",
"entity": "scheme:5493000P70CQRQG8SN85",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:EquityAttributableToOwnersOfParentMember",
"unit": "iso4217:EUR"
}
},
"f0__s5__7__19": {
"value": "0.0",
"dimensions": {
"concept": "ifrs-full:DividendsPaid",
"entity": "scheme:5493000P70CQRQG8SN85",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:EquityAttributableToOwnersOfParentMember",
"unit": "iso4217:EUR"
}
},
"f0__s5__8__19": {
"value": "0.0",
"dimensions": {
"concept": "NEX:IncreaseDecreaseThroughChangeInReservesEquity",
"entity": "scheme:5493000P70CQRQG8SN85",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:EquityAttributableToOwnersOfParentMember",
"unit": "iso4217:EUR"
}
},
"f0__s5__9__19": {
"value": "26567000.0",
"decimals": -3,
"dimensions": {
"concept": "NEX:IncreaseDecreaseThroughChangeInNetEquity",
"entity": "scheme:5493000P70CQRQG8SN85",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:EquityAttributableToOwnersOfParentMember",
"unit": "iso4217:EUR"
}
},
"f0__s5__10__19": {
"value": "-1005989000.0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:ProfitLoss",
"entity": "scheme:5493000P70CQRQG8SN85",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:EquityAttributableToOwnersOfParentMember",
"unit": "iso4217:EUR"
}
},
"f0__s5__11__19": {
"value": "19174000.0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:OtherComprehensiveIncome",
"entity": "scheme:5493000P70CQRQG8SN85",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:EquityAttributableToOwnersOfParentMember",
"unit": "iso4217:EUR"
}
},
"f0__s5__12__19": {
"value": "11274415000.0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:Equity",
"entity": "scheme:5493000P70CQRQG8SN85",
"period": "2024-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:EquityAttributableToOwnersOfParentMember",
"unit": "iso4217:EUR"
}
},
"f0__s5__3__20": {
"value": "118583000.0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:Equity",
"entity": "scheme:5493000P70CQRQG8SN85",
"period": "2023-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:IssuedCapitalMember",
"ifrs-full:RetrospectiveApplicationAndRetrospectiveRestatementAxis": "ifrs-full:PreviouslyStatedMember",
"unit": "iso4217:EUR"
}
},
"f0__s5__5__20": {
"value": "118583000.0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:Equity",
"entity": "scheme:5493000P70CQRQG8SN85",
"period": "2023-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:IssuedCapitalMember",
"unit": "iso4217:EUR"
}
},
"f0__s5__9__20": {
"value": "64000.0",
"decimals": -3,
"dimensions": {
"concept": "NEX:IncreaseDecreaseThroughChangeInNetEquity",
"entity": "scheme:5493000P70CQRQG8SN85",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:IssuedCapitalMember",
"unit": "iso4217:EUR"
}
},
"f0__s5__12__20": {
"value": "118647000.0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:Equity",
"entity": "scheme:5493000P70CQRQG8SN85",
"period": "2024-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:IssuedCapitalMember",
"unit": "iso4217:EUR"
}
},
"f0__s5__3__21": {
"value": "-4440000.0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:Equity",
"entity": "scheme:5493000P70CQRQG8SN85",
"period": "2023-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:TreasurySharesMember",
"ifrs-full:RetrospectiveApplicationAndRetrospectiveRestatementAxis": "ifrs-full:PreviouslyStatedMember",
"unit": "iso4217:EUR"
}
},
"f0__s5__5__21": {
"value": "-4440000.0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:Equity",
"entity": "scheme:5493000P70CQRQG8SN85",
"period": "2023-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:TreasurySharesMember",
"unit": "iso4217:EUR"
}
},
"f0__s5__9__21": {
"value": "-2573000.0",
"decimals": -3,
"dimensions": {
"concept": "NEX:IncreaseDecreaseThroughChangeInNetEquity",
"entity": "scheme:5493000P70CQRQG8SN85",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:TreasurySharesMember",
"unit": "iso4217:EUR"
}
},
"f0__s5__12__21": {
"value": "-7013000.0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:Equity",
"entity": "scheme:5493000P70CQRQG8SN85",
"period": "2024-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:TreasurySharesMember",
"unit": "iso4217:EUR"
}
},
"f0__s5__3__22": {
"value": "11587260000.0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:Equity",
"entity": "scheme:5493000P70CQRQG8SN85",
"period": "2023-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:SharePremiumMember",
"ifrs-full:RetrospectiveApplicationAndRetrospectiveRestatementAxis": "ifrs-full:PreviouslyStatedMember",
"unit": "iso4217:EUR"
}
},
"f0__s5__5__22": {
"value": "11587260000.0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:Equity",
"entity": "scheme:5493000P70CQRQG8SN85",
"period": "2023-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:SharePremiumMember",
"unit": "iso4217:EUR"
}
},
"f0__s5__12__22": {
"value": "11587260000.0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:Equity",
"entity": "scheme:5493000P70CQRQG8SN85",
"period": "2024-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:SharePremiumMember",
"unit": "iso4217:EUR"
}
},
"f0__s5__3__23": {
"value": "468390000.0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:Equity",
"entity": "scheme:5493000P70CQRQG8SN85",
"period": "2023-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "NEX:OtherReservesAndRetainedEarningsExcludingProfitLossForReportingPeriodMember",
"ifrs-full:RetrospectiveApplicationAndRetrospectiveRestatementAxis": "ifrs-full:PreviouslyStatedMember",
"unit": "iso4217:EUR"
}
},
"f0__s5__4__23": {
"value": "16101000.0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:Equity",
"entity": "scheme:5493000P70CQRQG8SN85",
"period": "2023-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "NEX:OtherReservesAndRetainedEarningsExcludingProfitLossForReportingPeriodMember",
"ifrs-full:RetrospectiveApplicationAndRetrospectiveRestatementAxis": "ifrs-full:IncreaseDecreaseDueToChangesInAccountingPolicyAndCorrectionsOfPriorPeriodErrorsMember",
"unit": "iso4217:EUR"
}
},
"f0__s5__5__23": {
"value": "484491000.0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:Equity",
"entity": "scheme:5493000P70CQRQG8SN85",
"period": "2023-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "NEX:OtherReservesAndRetainedEarningsExcludingProfitLossForReportingPeriodMember",
"unit": "iso4217:EUR"
}
},
"f0__s5__6__23": {
"value": "138995000.0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:IncreaseDecreaseThroughTransfersAndOtherChangesEquity",
"entity": "scheme:5493000P70CQRQG8SN85",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "NEX:OtherReservesAndRetainedEarningsExcludingProfitLossForReportingPeriodMember",
"unit": "iso4217:EUR"
}
},
"f0__s5__8__23": {
"value": "61338000.0",
"decimals": -3,
"dimensions": {
"concept": "NEX:IncreaseDecreaseThroughChangeInReservesEquity",
"entity": "scheme:5493000P70CQRQG8SN85",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "NEX:OtherReservesAndRetainedEarningsExcludingProfitLossForReportingPeriodMember",
"unit": "iso4217:EUR"
}
},
"f0__s5__9__23": {
"value": "29076000.0",
"decimals": -3,
"dimensions": {
"concept": "NEX:IncreaseDecreaseThroughChangeInNetEquity",
"entity": "scheme:5493000P70CQRQG8SN85",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "NEX:OtherReservesAndRetainedEarningsExcludingProfitLossForReportingPeriodMember",
"unit": "iso4217:EUR"
}
},
"f0__s5__12__23": {
"value": "713900000.0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:Equity",
"entity": "scheme:5493000P70CQRQG8SN85",
"period": "2024-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "NEX:OtherReservesAndRetainedEarningsExcludingProfitLossForReportingPeriodMember",
"unit": "iso4217:EUR"
}
},
"f0__s5__3__24": {
"value": "-90226000.0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:Equity",
"entity": "scheme:5493000P70CQRQG8SN85",
"period": "2023-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:RevaluationSurplusMember",
"ifrs-full:RetrospectiveApplicationAndRetrospectiveRestatementAxis": "ifrs-full:PreviouslyStatedMember",
"unit": "iso4217:EUR"
}
},
"f0__s5__5__24": {
"value": "-90226000.0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:Equity",
"entity": "scheme:5493000P70CQRQG8SN85",
"period": "2023-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:RevaluationSurplusMember",
"unit": "iso4217:EUR"
}
},
"f0__s5__8__24": {
"value": "-61338000.0",
"decimals": -3,
"dimensions": {
"concept": "NEX:IncreaseDecreaseThroughChangeInReservesEquity",
"entity": "scheme:5493000P70CQRQG8SN85",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:RevaluationSurplusMember",
"unit": "iso4217:EUR"
}
},
"f0__s5__11__24": {
"value": "19174000.0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:OtherComprehensiveIncome",
"entity": "scheme:5493000P70CQRQG8SN85",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:RevaluationSurplusMember",
"unit": "iso4217:EUR"
}
},
"f0__s5__12__24": {
"value": "-132390000.0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:Equity",
"entity": "scheme:5493000P70CQRQG8SN85",
"period": "2024-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:RevaluationSurplusMember",
"unit": "iso4217:EUR"
}
},
"f0__s5__3__25": {
"value": "140023000.0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:Equity",
"entity": "scheme:5493000P70CQRQG8SN85",
"period": "2023-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:RetainedEarningsProfitLossForReportingPeriodMember",
"ifrs-full:RetrospectiveApplicationAndRetrospectiveRestatementAxis": "ifrs-full:PreviouslyStatedMember",
"unit": "iso4217:EUR"
}
},
"f0__s5__4__25": {
"value": "-1028000.0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:Equity",
"entity": "scheme:5493000P70CQRQG8SN85",
"period": "2023-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:RetainedEarningsProfitLossForReportingPeriodMember",
"ifrs-full:RetrospectiveApplicationAndRetrospectiveRestatementAxis": "ifrs-full:IncreaseDecreaseDueToChangesInAccountingPolicyAndCorrectionsOfPriorPeriodErrorsMember",
"unit": "iso4217:EUR"
}
},
"f0__s5__5__25": {
"value": "138995000.0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:Equity",
"entity": "scheme:5493000P70CQRQG8SN85",
"period": "2023-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:RetainedEarningsProfitLossForReportingPeriodMember",
"unit": "iso4217:EUR"
}
},
"f0__s5__6__25": {
"value": "-138995000.0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:IncreaseDecreaseThroughTransfersAndOtherChangesEquity",
"entity": "scheme:5493000P70CQRQG8SN85",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:RetainedEarningsProfitLossForReportingPeriodMember",
"unit": "iso4217:EUR"
}
},
"f0__s5__10__25": {
"value": "-1005989000.0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:ProfitLoss",
"entity": "scheme:5493000P70CQRQG8SN85",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:RetainedEarningsProfitLossForReportingPeriodMember",
"unit": "iso4217:EUR"
}
},
"f0__s5__12__25": {
"value": "-1005989000.0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:Equity",
"entity": "scheme:5493000P70CQRQG8SN85",
"period": "2024-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:RetainedEarningsProfitLossForReportingPeriodMember",
"unit": "iso4217:EUR"
}
},
"f0__s5__3__26": {
"value": "18147000.0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:Equity",
"entity": "scheme:5493000P70CQRQG8SN85",
"period": "2023-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:NoncontrollingInterestsMember",
"ifrs-full:RetrospectiveApplicationAndRetrospectiveRestatementAxis": "ifrs-full:PreviouslyStatedMember",
"unit": "iso4217:EUR"
}
},
"f0__s5__4__26": {
"value": "4322000.0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:Equity",
"entity": "scheme:5493000P70CQRQG8SN85",
"period": "2023-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:NoncontrollingInterestsMember",
"ifrs-full:RetrospectiveApplicationAndRetrospectiveRestatementAxis": "ifrs-full:IncreaseDecreaseDueToChangesInAccountingPolicyAndCorrectionsOfPriorPeriodErrorsMember",
"unit": "iso4217:EUR"
}
},
"f0__s5__5__26": {
"value": "22470000.0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:Equity",
"entity": "scheme:5493000P70CQRQG8SN85",
"period": "2023-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:NoncontrollingInterestsMember",
"unit": "iso4217:EUR"
}
},
"f0__s5__6__26": {
"value": "0.0",
"dimensions": {
"concept": "ifrs-full:IncreaseDecreaseThroughTransfersAndOtherChangesEquity",
"entity": "scheme:5493000P70CQRQG8SN85",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:NoncontrollingInterestsMember",
"unit": "iso4217:EUR"
}
},
"f0__s5__7__26": {
"value": "3144000.0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:DividendsPaid",
"entity": "scheme:5493000P70CQRQG8SN85",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:NoncontrollingInterestsMember",
"unit": "iso4217:EUR"
}
},
"f0__s5__8__26": {
"value": "0.0",
"dimensions": {
"concept": "NEX:IncreaseDecreaseThroughChangeInReservesEquity",
"entity": "scheme:5493000P70CQRQG8SN85",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:NoncontrollingInterestsMember",
"unit": "iso4217:EUR"
}
},
"f0__s5__9__26": {
"value": "48000.0",
"decimals": -3,
"dimensions": {
"concept": "NEX:IncreaseDecreaseThroughChangeInNetEquity",
"entity": "scheme:5493000P70CQRQG8SN85",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:NoncontrollingInterestsMember",
"unit": "iso4217:EUR"
}
},
"f0__s5__10__26": {
"value": "3228000.0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:ProfitLoss",
"entity": "scheme:5493000P70CQRQG8SN85",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:NoncontrollingInterestsMember",
"unit": "iso4217:EUR"
}
},
"f0__s5__11__26": {
"value": "129000.0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:OtherComprehensiveIncome",
"entity": "scheme:5493000P70CQRQG8SN85",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:NoncontrollingInterestsMember",
"unit": "iso4217:EUR"
}
},
"f0__s5__12__26": {
"value": "22731000.0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:Equity",
"entity": "scheme:5493000P70CQRQG8SN85",
"period": "2024-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:NoncontrollingInterestsMember",
"unit": "iso4217:EUR"
}
},
"f0__s5__3__27": {
"value": "12237737000.0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:Equity",
"entity": "scheme:5493000P70CQRQG8SN85",
"period": "2023-01-01T00:00:00",
"ifrs-full:RetrospectiveApplicationAndRetrospectiveRestatementAxis": "ifrs-full:PreviouslyStatedMember",
"unit": "iso4217:EUR"
}
},
"f0__s5__4__27": {
"value": "19395000.0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:Equity",
"entity": "scheme:5493000P70CQRQG8SN85",
"period": "2023-01-01T00:00:00",
"ifrs-full:RetrospectiveApplicationAndRetrospectiveRestatementAxis": "ifrs-full:IncreaseDecreaseDueToChangesInAccountingPolicyAndCorrectionsOfPriorPeriodErrorsMember",
"unit": "iso4217:EUR"
}
},
"f0__s5__5__27": {
"value": "12257133000.0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:Equity",
"entity": "scheme:5493000P70CQRQG8SN85",
"period": "2023-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"f0__s5__6__27": {
"value": "0.0",
"dimensions": {
"concept": "ifrs-full:IncreaseDecreaseThroughTransfersAndOtherChangesEquity",
"entity": "scheme:5493000P70CQRQG8SN85",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"f0__s5__7__27": {
"value": "3144000.0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:DividendsPaid",
"entity": "scheme:5493000P70CQRQG8SN85",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"f0__s5__8__27": {
"value": "0.0",
"dimensions": {
"concept": "NEX:IncreaseDecreaseThroughChangeInReservesEquity",
"entity": "scheme:5493000P70CQRQG8SN85",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"f0__s5__9__27": {
"value": "26615000.0",
"decimals": -3,
"dimensions": {
"concept": "NEX:IncreaseDecreaseThroughChangeInNetEquity",
"entity": "scheme:5493000P70CQRQG8SN85",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"f0__s5__10__27": {
"value": "-1002761000.0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:ProfitLoss",
"entity": "scheme:5493000P70CQRQG8SN85",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"f0__s5__11__27": {
"value": "19303000.0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:OtherComprehensiveIncome",
"entity": "scheme:5493000P70CQRQG8SN85",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"f0__s5__12__27": {
"value": "11297146000.0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:Equity",
"entity": "scheme:5493000P70CQRQG8SN85",
"period": "2024-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"f0__s6__3__5": {
"value": "1214976000.0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:CashFlowsFromUsedInOperations",
"entity": "scheme:5493000P70CQRQG8SN85",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"f0__s6__4__5": {
"value": "952137000.0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:CashFlowsFromUsedInOperations",
"entity": "scheme:5493000P70CQRQG8SN85",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"f0__s6__3__6": {
"value": "171040000.0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:ProfitLoss",
"entity": "scheme:5493000P70CQRQG8SN85",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"f0__s6__4__6": {
"value": "-1002761000.0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:ProfitLoss",
"entity": "scheme:5493000P70CQRQG8SN85",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"f0__s6__3__7": {
"value": "22047000.0",
"decimals": -3,
"dimensions": {
"concept": "NEX:AdjustmentsForGainsLossesOnFinancialAssetsAndLiabilitiesAtFairValueThroughProfitOrLoss",
"entity": "scheme:5493000P70CQRQG8SN85",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"f0__s6__4__7": {
"value": "48217000.0",
"decimals": -3,
"dimensions": {
"concept": "NEX:AdjustmentsForGainsLossesOnFinancialAssetsAndLiabilitiesAtFairValueThroughProfitOrLoss",
"entity": "scheme:5493000P70CQRQG8SN85",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"f0__s6__3__8": {
"value": "-662000.0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:AdjustmentsForProvisions",
"entity": "scheme:5493000P70CQRQG8SN85",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"f0__s6__4__8": {
"value": "48616000.0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:AdjustmentsForProvisions",
"entity": "scheme:5493000P70CQRQG8SN85",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"f0__s6__3__9": {
"value": "23565000.0",
"decimals": -3,
"dimensions": {
"concept": "NEX:AdjustmentsForImpairmentLossReversalOfImpairmentLossRecognisedInProfitOrLossNonCurrentAssetsOrDisposalGroupsClassifiedAsHeldForSale",
"entity": "scheme:5493000P70CQRQG8SN85",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"f0__s6__4__9": {
"value": "0.0",
"dimensions": {
"concept": "NEX:AdjustmentsForImpairmentLossReversalOfImpairmentLossRecognisedInProfitOrLossNonCurrentAssetsOrDisposalGroupsClassifiedAsHeldForSale",
"entity": "scheme:5493000P70CQRQG8SN85",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"f0__s6__3__10": {
"value": "911252000.0",
"decimals": -3,
"dimensions": {
"concept": "NEX:AdjustmentsForDepreciationAndAmortisationExpenseAndImpairmentLossReversalOfImpairmentLossRecognisedInProfitOrLossOtherThanNonCurrentAssetsOrDisposalGroupsClassifiedAsHeldForSale",
"entity": "scheme:5493000P70CQRQG8SN85",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"f0__s6__4__10": {
"value": "2151752000.0",
"decimals": -3,
"dimensions": {
"concept": "NEX:AdjustmentsForDepreciationAndAmortisationExpenseAndImpairmentLossReversalOfImpairmentLossRecognisedInProfitOrLossOtherThanNonCurrentAssetsOrDisposalGroupsClassifiedAsHeldForSale",
"entity": "scheme:5493000P70CQRQG8SN85",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"f0__s6__3__11": {
"value": "-105244000.0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:AdjustmentsForIncomeTaxExpense",
"entity": "scheme:5493000P70CQRQG8SN85",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"f0__s6__4__11": {
"value": "-218362000.0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:AdjustmentsForIncomeTaxExpense",
"entity": "scheme:5493000P70CQRQG8SN85",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"f0__s6__3__12": {
"value": "237072000.0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:OtherAdjustmentsToReconcileProfitLoss",
"entity": "scheme:5493000P70CQRQG8SN85",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"f0__s6__4__12": {
"value": "21109000.0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:OtherAdjustmentsToReconcileProfitLoss",
"entity": "scheme:5493000P70CQRQG8SN85",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"f0__s6__3__13": {
"value": "509563000.0",
"decimals": -3,
"dimensions": {
"concept": "NEX:AdjustmentsForDecreaseIncreaseInFinancialAssets",
"entity": "scheme:5493000P70CQRQG8SN85",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"f0__s6__4__13": {
"value": "-1746540000.0",
"decimals": -3,
"dimensions": {
"concept": "NEX:AdjustmentsForDecreaseIncreaseInFinancialAssets",
"entity": "scheme:5493000P70CQRQG8SN85",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"f0__s6__3__14": {
"value": "-524760000.0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:AdjustmentsForDecreaseIncreaseInLoansAndAdvancesToBanks",
"entity": "scheme:5493000P70CQRQG8SN85",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"f0__s6__4__14": {
"value": "-345027000.0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:AdjustmentsForDecreaseIncreaseInLoansAndAdvancesToBanks",
"entity": "scheme:5493000P70CQRQG8SN85",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"f0__s6__3__15": {
"value": "981609000.0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:AdjustmentsForDecreaseIncreaseInLoansAndAdvancesToCustomers",
"entity": "scheme:5493000P70CQRQG8SN85",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"f0__s6__4__15": {
"value": "-1010692000.0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:AdjustmentsForDecreaseIncreaseInLoansAndAdvancesToCustomers",
"entity": "scheme:5493000P70CQRQG8SN85",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"f0__s6__3__16": {
"value": "52714000.0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:AdjustmentsForDecreaseIncreaseInOtherAssets",
"entity": "scheme:5493000P70CQRQG8SN85",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"f0__s6__4__16": {
"value": "-390821000.0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:AdjustmentsForDecreaseIncreaseInOtherAssets",
"entity": "scheme:5493000P70CQRQG8SN85",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"f0__s6__3__17": {
"value": "-750511000.0",
"decimals": -3,
"dimensions": {
"concept": "NEX:AdjustmentsForIncreaseDecreaseInFinancialLiabilities",
"entity": "scheme:5493000P70CQRQG8SN85",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"f0__s6__4__17": {
"value": "1696827000.0",
"decimals": -3,
"dimensions": {
"concept": "NEX:AdjustmentsForIncreaseDecreaseInFinancialLiabilities",
"entity": "scheme:5493000P70CQRQG8SN85",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"f0__s6__3__18": {
"value": "483269000.0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:AdjustmentsForIncreaseDecreaseInDepositsFromBanks",
"entity": "scheme:5493000P70CQRQG8SN85",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"f0__s6__4__18": {
"value": "480431000.0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:AdjustmentsForIncreaseDecreaseInDepositsFromBanks",
"entity": "scheme:5493000P70CQRQG8SN85",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"f0__s6__3__19": {
"value": "-618032000.0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:AdjustmentsForIncreaseDecreaseInDepositsFromCustomers",
"entity": "scheme:5493000P70CQRQG8SN85",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"f0__s6__4__19": {
"value": "784278000.0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:AdjustmentsForIncreaseDecreaseInDepositsFromCustomers",
"entity": "scheme:5493000P70CQRQG8SN85",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"f0__s6__3__20": {
"value": "-615748000.0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:AdjustmentsForIncreaseDecreaseInOtherLiabilities",
"entity": "scheme:5493000P70CQRQG8SN85",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"f0__s6__4__20": {
"value": "432118000.0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:AdjustmentsForIncreaseDecreaseInOtherLiabilities",
"entity": "scheme:5493000P70CQRQG8SN85",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"f0__s6__3__21": {
"value": "974028000.0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:CashFlowsFromUsedInOperatingActivities",
"entity": "scheme:5493000P70CQRQG8SN85",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"f0__s6__4__21": {
"value": "902424000.0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:CashFlowsFromUsedInOperatingActivities",
"entity": "scheme:5493000P70CQRQG8SN85",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"f0__s6__3__24": {
"value": "103749000.0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:PurchaseOfPropertyPlantAndEquipmentClassifiedAsInvestingActivities",
"entity": "scheme:5493000P70CQRQG8SN85",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"f0__s6__4__24": {
"value": "129443000.0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:PurchaseOfPropertyPlantAndEquipmentClassifiedAsInvestingActivities",
"entity": "scheme:5493000P70CQRQG8SN85",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"f0__s6__3__25": {
"value": "343224000.0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:PurchaseOfIntangibleAssetsClassifiedAsInvestingActivities",
"entity": "scheme:5493000P70CQRQG8SN85",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"f0__s6__4__25": {
"value": "335099000.0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:PurchaseOfIntangibleAssetsClassifiedAsInvestingActivities",
"entity": "scheme:5493000P70CQRQG8SN85",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"f0__s6__3__26": {
"value": "91810000.0",
"decimals": -3,
"dimensions": {
"concept": "NEX:CashFlowsFromLosingControlOfSubsidiariesOrOtherBusinessesAndCashFlowsUsedInObtainingControlOfSubsidiariesOrOtherBusinessesClassifiedAsInvestingActivities",
"entity": "scheme:5493000P70CQRQG8SN85",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"f0__s6__4__26": {
"value": "-175916000.0",
"decimals": -3,
"dimensions": {
"concept": "NEX:CashFlowsFromLosingControlOfSubsidiariesOrOtherBusinessesAndCashFlowsUsedInObtainingControlOfSubsidiariesOrOtherBusinessesClassifiedAsInvestingActivities",
"entity": "scheme:5493000P70CQRQG8SN85",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"f0__s6__3__27": {
"value": "4402000.0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:DividendsReceivedClassifiedAsInvestingActivities",
"entity": "scheme:5493000P70CQRQG8SN85",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"f0__s6__4__27": {
"value": "617000.0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:DividendsReceivedClassifiedAsInvestingActivities",
"entity": "scheme:5493000P70CQRQG8SN85",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"f0__s6__3__28": {
"value": "-3100000.0",
"decimals": -3,
"dimensions": {
"concept": "NEX:ProceedsFromChangesInOwnershipInterestsInSubsidiariesAndPaymentsFromChangesInOwnershipInterestsInSubsidiaries",
"entity": "scheme:5493000P70CQRQG8SN85",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"f0__s6__4__28": {
"value": "0.0",
"dimensions": {
"concept": "NEX:ProceedsFromChangesInOwnershipInterestsInSubsidiariesAndPaymentsFromChangesInOwnershipInterestsInSubsidiaries",
"entity": "scheme:5493000P70CQRQG8SN85",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"f0__s6__3__29": {
"value": "-353861000.0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:CashFlowsFromUsedInInvestingActivities",
"entity": "scheme:5493000P70CQRQG8SN85",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"f0__s6__4__29": {
"value": "-639841000.0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:CashFlowsFromUsedInInvestingActivities",
"entity": "scheme:5493000P70CQRQG8SN85",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"f0__s6__3__32": {
"value": "850122000.0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:RepaymentsOfBorrowingsClassifiedAsFinancingActivities",
"entity": "scheme:5493000P70CQRQG8SN85",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"f0__s6__4__32": {
"value": "53327000.0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:RepaymentsOfBorrowingsClassifiedAsFinancingActivities",
"entity": "scheme:5493000P70CQRQG8SN85",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"f0__s6__3__33": {
"value": "2936000.0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:DividendsPaidClassifiedAsFinancingActivities",
"entity": "scheme:5493000P70CQRQG8SN85",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"f0__s6__4__33": {
"value": "3127000.0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:DividendsPaidClassifiedAsFinancingActivities",
"entity": "scheme:5493000P70CQRQG8SN85",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"f0__s6__3__34": {
"value": "-499099000.0",
"decimals": -3,
"dimensions": {
"concept": "NEX:ProceedsFromIssuingOtherEquityInstrumentsAndPaymentsOfOtherEquityInstrumentsClassifiedAsFinancingActivities",
"entity": "scheme:5493000P70CQRQG8SN85",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"f0__s6__4__34": {
"value": "-4735000.0",
"decimals": -3,
"dimensions": {
"concept": "NEX:ProceedsFromIssuingOtherEquityInstrumentsAndPaymentsOfOtherEquityInstrumentsClassifiedAsFinancingActivities",
"entity": "scheme:5493000P70CQRQG8SN85",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"f0__s6__3__35": {
"value": "6493000.0",
"decimals": -3,
"dimensions": {
"concept": "NEX:ProceedsFromBorrowingsAndProceedsFromIssuingDebtSecuritiesClassifiedAsFinancingActivities",
"entity": "scheme:5493000P70CQRQG8SN85",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"f0__s6__4__35": {
"value": "150000000.0",
"decimals": -3,
"dimensions": {
"concept": "NEX:ProceedsFromBorrowingsAndProceedsFromIssuingDebtSecuritiesClassifiedAsFinancingActivities",
"entity": "scheme:5493000P70CQRQG8SN85",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"f0__s6__3__36": {
"value": "-1345664000.0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:CashFlowsFromUsedInFinancingActivities",
"entity": "scheme:5493000P70CQRQG8SN85",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"f0__s6__4__36": {
"value": "88811000.0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:CashFlowsFromUsedInFinancingActivities",
"entity": "scheme:5493000P70CQRQG8SN85",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"f0__s6__3__39": {
"value": "-725497000.0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:IncreaseDecreaseInCashAndCashEquivalents",
"entity": "scheme:5493000P70CQRQG8SN85",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"f0__s6__4__39": {
"value": "351394000.0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:IncreaseDecreaseInCashAndCashEquivalents",
"entity": "scheme:5493000P70CQRQG8SN85",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"f0__s6__3__40": {
"value": "-725497000.0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:IncreaseDecreaseInCashAndCashEquivalents",
"entity": "scheme:5493000P70CQRQG8SN85",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"f0__s6__4__40": {
"value": "351394000.0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:IncreaseDecreaseInCashAndCashEquivalents",
"entity": "scheme:5493000P70CQRQG8SN85",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"f0__s6__3__41": {
"value": "800172000.0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:CashAndCashEquivalents",
"entity": "scheme:5493000P70CQRQG8SN85",
"period": "2024-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"f0__s6__4__41": {
"value": "448778000.0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:CashAndCashEquivalents",
"entity": "scheme:5493000P70CQRQG8SN85",
"period": "2023-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"f0__s6__3__42": {
"value": "74675000.0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:CashAndCashEquivalents",
"entity": "scheme:5493000P70CQRQG8SN85",
"period": "2025-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"f0__s6__4__42": {
"value": "800172000.0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:CashAndCashEquivalents",
"entity": "scheme:5493000P70CQRQG8SN85",
"period": "2024-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"f0__s8__6__12": {
"value": "Nexi SpA",
"dimensions": {
"concept": "ifrs-full:NameOfParentEntity",
"language": "en",
"entity": "scheme:5493000P70CQRQG8SN85",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
}
},
"f0__s8__6__5": {
"value": "Nexi SpA",
"dimensions": {
"concept": "ifrs-full:NameOfReportingEntityOrOtherMeansOfIdentification",
"language": "en",
"entity": "scheme:5493000P70CQRQG8SN85",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
}
},
"f0__s8__6__13": {
"value": "SpA",
"dimensions": {
"concept": "ifrs-full:NameOfUltimateParentOfGroup",
"language": "en",
"entity": "scheme:5493000P70CQRQG8SN85",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
}
},
"f0__s8__6__7": {
"value": "SpA",
"dimensions": {
"concept": "ifrs-full:LegalFormOfEntity",
"language": "en",
"entity": "scheme:5493000P70CQRQG8SN85",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
}
},
"f0__s8__6__10": {
"value": "Milan - Corso Sempione 55",
"dimensions": {
"concept": "ifrs-full:PrincipalPlaceOfBusiness",
"language": "en",
"entity": "scheme:5493000P70CQRQG8SN85",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
}
},
"f0__s8__6__9": {
"value": "Milan - Corso Sempione 55",
"dimensions": {
"concept": "ifrs-full:AddressOfRegisteredOfficeOfEntity",
"language": "en",
"entity": "scheme:5493000P70CQRQG8SN85",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
}
},
"f0__s8__6__6": {
"value": "Milan - Corso Sempione 55",
"dimensions": {
"concept": "ifrs-full:DomicileOfEntity",
"language": "en",
"entity": "scheme:5493000P70CQRQG8SN85",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
}
},
"f0__s8__6__8": {
"value": "Italia",
"dimensions": {
"concept": "ifrs-full:CountryOfIncorporation",
"language": "en",
"entity": "scheme:5493000P70CQRQG8SN85",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
}
},
"f0__s8__6__11": {
"value": "Holding of equity investments. Operating companies operate in the e-money sector (acquiring and issuing) and payments",
"dimensions": {
"concept": "ifrs-full:DescriptionOfNatureOfEntitysOperationsAndPrincipalActivities",
"language": "en",
"entity": "scheme:5493000P70CQRQG8SN85",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
}
},
"f0__s8__6__14": {
"value": "The duration of the Company is set at 31 (thirty-one) December 2100 (two thousand one hundred) and may be extended one or more times in the manner envisaged by law",
"dimensions": {
"concept": "ifrs-full:LengthOfLifeOfLimitedLifeEntity",
"language": "en",
"entity": "scheme:5493000P70CQRQG8SN85",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
}
},
"f0__s8__6__16": {
"value": "1. Accounting Policies Basis of PreparationThe Group has prepared these Consolidated Financial Statements as at 31 December 2024 in accordance with the IFRS, issued by the International Accounting Standards Board (IASB) and subject to interpretation by the International Financial Reporting Interpretations Committee (IFRIC), as rati\ue6d1ed by the European Commission and transposed into Italian Law via Italian Legislative Decree 38/2005 pur-suant to Community Regulation no. 1606/2002. In preparing the Consolidated Financial Statements as at 31 December 2024, the IFRS standards endorsed and in force as at 31 December 2024 were applied, including the SIC and IFRIC interpretative documents. No dero-gations were made from the IAS/IFRS standards.In addition, as required by current legislation, the Nexi Consolidated Financial Statements are made available to the public in the iXBRL format. Note that due to some technical limits of the main tools used in the market some information contained in the Notes to the Consolidated Financial Statements, prepared in ESEF format, extracted from the XHTML format in an XBRL instance, may not be repro-duced identically to what is contained in the consolidated \ue6d1nancial statements in XHTML format.It should be noted that the publication of the Nexi Group\u2019s Consolidated Financial Statements as at 31 December 2024 was authorised by a resolution of the Board of Directors on 27 February 2025.The Consolidated Financial Statements as at 31 December 2024 comprise the Statement of Financial Position, the Income Statement, the Statement of Comprehensive Income, the Statement of Changes in Equity, the Statement of Cash Flows, the Notes to the Financial Statements, which include the criteria used for their preparation, and the related comparative information. The Consolidated Financial Statements are also accompanied by the Board of Directors\u2019 Management Report addressing the Group\u2019s operating performance, its economic results and its equity and \ue6d1nancial position.In addition to the amounts for the \ue6d1nancial year, the Financial Statements and the Notes thereto present comparative \ue6d1gures as at 31 December 2023.The Consolidated Financial Statements as at 31 December 2024 are prepared in euro which is the Company\u2019s functional currency.Unless otherwise stated, amounts in the \ue6d1nancial statements and notes are expressed in thousands of euros.As also speci\ue6d1ed in the Management Report, the measurement criteria are adopted considering the corporate business as a going concern with entries made on an accruals basis, respecting principles of relevance and signi\ue6d1cance of the accounting information and substance over form. Furthermore, no compensation is made between costs and revenues or between assets and liabilities except in cases expressly provided for or accepted by the accounting standards in force.As well as providing all information mandatory pursuant to international accounting standards, the law, Consob and ESMA, the Man-agement Report and the Notes also provide non-mandatory information deemed useful for the purposes of presenting a true and fair view of the Group\u2019s situation. In continuity with what was carried out during the preparation of the 2023 annual \ue6d1nancial statements, also for the purposes of the Consolidated Financial Statements as at 31 December 2024 reference was made to the ESMA documents and in particular to the document issued on 24 October 2024 concerning the priorities relating to the \ue6d1nancial statements prepared based on the IASs/IFRSs. Speci\ue6d1cally, the enforcement priorities for 2024 for \ue6d1nancial statements prepared in accordance with international accounting standards are:- Disclosure of liquidity risks, for which ESMA recalls the main methods of preparing the statement of cash \ue6d2ows, as well as the changes made during the year to IAS 1 in relation to the presentation of liabilities as current or non-current and to IAS 7 with reference to \ue6d1nanc-ing arrangements with suppliers, for which reference is made to the following section;- Disclosure of Management\u2019s accounting policies, estimates and assumptions: ESMA recalls that accounting policies must be tailored to the operating environment of the individual entity and that disclosure must be made of key estimates and assumptions made by Management, as well as major sources of estimation uncertainty;- Sustainability reporting: ESMA recalls the main changes that occurred as a result of the transposition of the CSRD and reminds that attention must be paid to consistency between the information reported on climate change risks in the \ue6d1nancial statements and the information contained in sustainability reporting;- Alternative Performance Measures and the preparation of the \ue6d1nancial statements in ESEF format, with regard to which reference is made to the information contained in this section and in the Management Report.In 2024 the Group applied accounting standards consistent with those of the previous year, except for the changes in accounting stand-ards issued by the IASB and e\ue7e8ective as of 1 January 2024.Speci\ue6d1cally, the following changes in accounting standards apply from 1 January 2024:1) Amendments to IFRS 16 Leases: Lease liability in a sale and leaseback.From 1 January 2024 amendments to IFRS 16 are mandatory, which specify how the lessee-seller subsequently assesses sale and lease-back transactions that meet the requirements of IFRS 15 to be accounted for as a sale. IFRS 16 clari\ue6d1es that if the selling lessee transfers the asset to another entity (the purchasing lessor) and leases back the asset from the purchasing lessor, both the selling lessee and the purchasing lessor must account for the transfer agreement and the lease under IFRS 16. To determine whether the transfer of the asset constitutes a sale, entities shall apply the requirements for determining when the obligation to do something is discharged under IFRS 15. Similarly, IFRS 15 shall be applied to determine whether the transfer of the asset is accounted for as a sale of the asset. A sale and leaseback qualify as a sale if the lessor purchaser obtains control of the underlying business.The seller-lessee measures a leaseback asset as the percentage of the former carrying amount of the asset that relates to the retained right of use. The gain (or loss) recognised by the seller is limited to the percentage of the total gain (or loss) that relates to the rights transferred to the purchaser-lessee. Any di\ue7e8erence between the sale proceeds and the fair value of the asset is a prepayment of lease instalments (if the purchase price is below market terms) or additional \ue6d1nancing (if the purchase price is above market terms). The same logic applies if the lease payments are not at market rates.2) Amendments to IAS 1: Presentation of liabilities as current and non-currentThe amendments to IAS 1 clarify that liabilities are classi\ue6d1ed as current or non-current, depending on the rights existing at the end of the reporting period.The liabilities are non-current if at the end of the reporting period the entity has a substantive right to defer the settlement of pay-ment for at least twelve months. The guidance do not require that such right must be unconditional.An entity must classify a liability as current when:a) it is expected to settle the liability in its normal operating cycle;b) it possesses it primarily for the purpose of negotiating it;c) the liability must be discharged within 12 months after the end of the \ue6d1nancial year; ord) at the end of the reporting period it does not have the right to defer settlement of the liability for at least twelve months after the end of the reporting period.All other liabilities are to be classi\ue6d1ed as non-current.Liabilities arising from \ue6d1nancing arrangements may be classi\ue6d1ed as non-current when the entity\u2019s right to defer settlement of those liabilities is subject to the entity\u2019s compliance with the terms within twelve months after the reporting period. In such situations in the notes the entity must disclose information that enables users of its \ue6d1nancial statements to understand the risk that the liabilities may become repayable within 12 months after the reporting period. The amendments also clarify that for the purposes of classifying a liability as current or non-current, settlement refers to a transfer to the counterparty that results in the settlement of the liability.3) Amendments to IAS 7 and IFRS 7: Supplier \ue6d1nancing agreementsThe objective of the disclosures referred to in the amendment to IAS 7 is to enable users of \ue6d1nancial statements to evaluate the e\ue7e8ects of supplier \ue6d1nance arrangements on an entity\u2019s liabilities and cash \ue6d2ows and on the entity\u2019s exposure to liquidity risk.To achieve this, an entity must describe the following:- Terms and conditions of the agreement.- At the beginning and end of the \ue6d1nancial year:(i) The carrying amounts of suppliers\u2019 \ue6d1nancial liabilities and the items of the \ue6d1nancial liabilities they are presented in.(ii) The carrying amounts and related items of the \ue6d1nancial liabilities referred to in (i) above for which the suppliers have already received payment from the credit institutions.(iii) The range of payment dates for both the \ue6d1nancial liabilities indicated in (i) above and for comparable trade payables that are not part of a supplier \ue6d1nance arrangement. If payment due date intervals are long, explanations of these intervals or additional intervals (e.g. strati\ue6d1ed intervals) are required.- The type and e\ue7e8ect of changes, for example the e\ue7e8ect of business combinations, exchange di\ue7e8erences or other transactions that do not require the use of cash or cash equivalents. The Amendments to IFRS 7 incorporated supplier \ue6d1nance arrangements as an additional relevant factor for liquidity risk.These changes had no impact on the Group. IFRS and IFRIC Accounting Standards, Amendments and Interpretations Endorsed by the European Union, not yet Mandatorily Applicable and not Early Adopted by the Group as at 31 December 2024 - Amendments to IAS 21 The E\ue7e8ects of Changes in Foreign Exchange Rates.As of 1 January 2025, amendments to IAS 21 are mandatory in the case of hyperin\ue6d2ationary or non-exchangeable currencies; they pro-vide the following:- specify when a currency is exchangeable into another currency and when it is not: a currency is exchangeable when an entity is able to exchange that currency for the other currency through markets or exchange mechanisms that create enforceable rights and obliga-tions without undue delay at the measurement date and for a speci\ue6d1c purpose; a currency is not exchangeable into the other currency if the entity can obtain only an insigni\ue6d1cant amount of the other currency;- specify how the entity determines the exchange rate to be applied when a currency is not exchangeable: when a currency is not ex-changeable at the measurement date, the entity estimates the spot exchange rate as the rate that would have applied to an orderly transaction between market participants at the measurement date and that would faithfully re\ue6d2ect prevailing economic conditions;- require additional disclosures when a currency is not exchangeable: when a currency is not exchangeable, an entity discloses informa-tion that would enable users of its \ue6d1nancial statements to evaluate how the lack of exchangeability of a currency a\ue7e8ects or is expected to a\ue7e8ect its results of operations, \ue6d1nancial position and cash \ue6d2ows.The amendments to IAS 21 had no impact on the Group\u2019s Consolidated Financial Statements.",
"dimensions": {
"concept": "ifrs-full:DisclosureOfBasisOfPreparationOfFinancialStatementsExplanatory",
"language": "en",
"entity": "scheme:5493000P70CQRQG8SN85",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
}
},
"f0__s8__6__15": {
"value": "1. Accounting Policies Basis of PreparationThe Group has prepared these Consolidated Financial Statements as at 31 December 2024 in accordance with the IFRS, issued by the International Accounting Standards Board (IASB) and subject to interpretation by the International Financial Reporting Interpretations Committee (IFRIC), as rati\ue6d1ed by the European Commission and transposed into Italian Law via Italian Legislative Decree 38/2005 pur-suant to Community Regulation no. 1606/2002. In preparing the Consolidated Financial Statements as at 31 December 2024, the IFRS standards endorsed and in force as at 31 December 2024 were applied, including the SIC and IFRIC interpretative documents. No dero-gations were made from the IAS/IFRS standards.In addition, as required by current legislation, the Nexi Consolidated Financial Statements are made available to the public in the iXBRL format. Note that due to some technical limits of the main tools used in the market some information contained in the Notes to the Consolidated Financial Statements, prepared in ESEF format, extracted from the XHTML format in an XBRL instance, may not be repro-duced identically to what is contained in the consolidated \ue6d1nancial statements in XHTML format.It should be noted that the publication of the Nexi Group\u2019s Consolidated Financial Statements as at 31 December 2024 was authorised by a resolution of the Board of Directors on 27 February 2025.The Consolidated Financial Statements as at 31 December 2024 comprise the Statement of Financial Position, the Income Statement, the Statement of Comprehensive Income, the Statement of Changes in Equity, the Statement of Cash Flows, the Notes to the Financial Statements, which include the criteria used for their preparation, and the related comparative information. The Consolidated Financial Statements are also accompanied by the Board of Directors\u2019 Management Report addressing the Group\u2019s operating performance, its economic results and its equity and \ue6d1nancial position.In addition to the amounts for the \ue6d1nancial year, the Financial Statements and the Notes thereto present comparative \ue6d1gures as at 31 December 2023.The Consolidated Financial Statements as at 31 December 2024 are prepared in euro which is the Company\u2019s functional currency.Unless otherwise stated, amounts in the \ue6d1nancial statements and notes are expressed in thousands of euros.As also speci\ue6d1ed in the Management Report, the measurement criteria are adopted considering the corporate business as a going concern with entries made on an accruals basis, respecting principles of relevance and signi\ue6d1cance of the accounting information and substance over form. Furthermore, no compensation is made between costs and revenues or between assets and liabilities except in cases expressly provided for or accepted by the accounting standards in force.As well as providing all information mandatory pursuant to international accounting standards, the law, Consob and ESMA, the Man-agement Report and the Notes also provide non-mandatory information deemed useful for the purposes of presenting a true and fair view of the Group\u2019s situation. In continuity with what was carried out during the preparation of the 2023 annual \ue6d1nancial statements, also for the purposes of the Consolidated Financial Statements as at 31 December 2024 reference was made to the ESMA documents and in particular to the document issued on 24 October 2024 concerning the priorities relating to the \ue6d1nancial statements prepared based on the IASs/IFRSs. Speci\ue6d1cally, the enforcement priorities for 2024 for \ue6d1nancial statements prepared in accordance with international accounting standards are:- Disclosure of liquidity risks, for which ESMA recalls the main methods of preparing the statement of cash \ue6d2ows, as well as the changes made during the year to IAS 1 in relation to the presentation of liabilities as current or non-current and to IAS 7 with reference to \ue6d1nanc-ing arrangements with suppliers, for which reference is made to the following section;- Disclosure of Management\u2019s accounting policies, estimates and assumptions: ESMA recalls that accounting policies must be tailored to the operating environment of the individual entity and that disclosure must be made of key estimates and assumptions made by Management, as well as major sources of estimation uncertainty;- Sustainability reporting: ESMA recalls the main changes that occurred as a result of the transposition of the CSRD and reminds that attention must be paid to consistency between the information reported on climate change risks in the \ue6d1nancial statements and the information contained in sustainability reporting;- Alternative Performance Measures and the preparation of the \ue6d1nancial statements in ESEF format, with regard to which reference is made to the information contained in this section and in the Management Report.In 2024 the Group applied accounting standards consistent with those of the previous year, except for the changes in accounting stand-ards issued by the IASB and e\ue7e8ective as of 1 January 2024.Speci\ue6d1cally, the following changes in accounting standards apply from 1 January 2024:1) Amendments to IFRS 16 Leases: Lease liability in a sale and leaseback.From 1 January 2024 amendments to IFRS 16 are mandatory, which specify how the lessee-seller subsequently assesses sale and lease-back transactions that meet the requirements of IFRS 15 to be accounted for as a sale. IFRS 16 clari\ue6d1es that if the selling lessee transfers the asset to another entity (the purchasing lessor) and leases back the asset from the purchasing lessor, both the selling lessee and the purchasing lessor must account for the transfer agreement and the lease under IFRS 16. To determine whether the transfer of the asset constitutes a sale, entities shall apply the requirements for determining when the obligation to do something is discharged under IFRS 15. Similarly, IFRS 15 shall be applied to determine whether the transfer of the asset is accounted for as a sale of the asset. A sale and leaseback qualify as a sale if the lessor purchaser obtains control of the underlying business.The seller-lessee measures a leaseback asset as the percentage of the former carrying amount of the asset that relates to the retained right of use. The gain (or loss) recognised by the seller is limited to the percentage of the total gain (or loss) that relates to the rights transferred to the purchaser-lessee. Any di\ue7e8erence between the sale proceeds and the fair value of the asset is a prepayment of lease instalments (if the purchase price is below market terms) or additional \ue6d1nancing (if the purchase price is above market terms). The same logic applies if the lease payments are not at market rates.2) Amendments to IAS 1: Presentation of liabilities as current and non-currentThe amendments to IAS 1 clarify that liabilities are classi\ue6d1ed as current or non-current, depending on the rights existing at the end of the reporting period.The liabilities are non-current if at the end of the reporting period the entity has a substantive right to defer the settlement of pay-ment for at least twelve months. The guidance do not require that such right must be unconditional.An entity must classify a liability as current when:a) it is expected to settle the liability in its normal operating cycle;b) it possesses it primarily for the purpose of negotiating it;c) the liability must be discharged within 12 months after the end of the \ue6d1nancial year; ord) at the end of the reporting period it does not have the right to defer settlement of the liability for at least twelve months after the end of the reporting period.All other liabilities are to be classi\ue6d1ed as non-current.Liabilities arising from \ue6d1nancing arrangements may be classi\ue6d1ed as non-current when the entity\u2019s right to defer settlement of those liabilities is subject to the entity\u2019s compliance with the terms within twelve months after the reporting period. In such situations in the notes the entity must disclose information that enables users of its \ue6d1nancial statements to understand the risk that the liabilities may become repayable within 12 months after the reporting period. The amendments also clarify that for the purposes of classifying a liability as current or non-current, settlement refers to a transfer to the counterparty that results in the settlement of the liability.3) Amendments to IAS 7 and IFRS 7: Supplier \ue6d1nancing agreementsThe objective of the disclosures referred to in the amendment to IAS 7 is to enable users of \ue6d1nancial statements to evaluate the e\ue7e8ects of supplier \ue6d1nance arrangements on an entity\u2019s liabilities and cash \ue6d2ows and on the entity\u2019s exposure to liquidity risk.To achieve this, an entity must describe the following:- Terms and conditions of the agreement.- At the beginning and end of the \ue6d1nancial year:(i) The carrying amounts of suppliers\u2019 \ue6d1nancial liabilities and the items of the \ue6d1nancial liabilities they are presented in.(ii) The carrying amounts and related items of the \ue6d1nancial liabilities referred to in (i) above for which the suppliers have already received payment from the credit institutions.(iii) The range of payment dates for both the \ue6d1nancial liabilities indicated in (i) above and for comparable trade payables that are not part of a supplier \ue6d1nance arrangement. If payment due date intervals are long, explanations of these intervals or additional intervals (e.g. strati\ue6d1ed intervals) are required.- The type and e\ue7e8ect of changes, for example the e\ue7e8ect of business combinations, exchange di\ue7e8erences or other transactions that do not require the use of cash or cash equivalents. The Amendments to IFRS 7 incorporated supplier \ue6d1nance arrangements as an additional relevant factor for liquidity risk.These changes had no impact on the Group. IFRS and IFRIC Accounting Standards, Amendments and Interpretations Endorsed by the European Union, not yet Mandatorily Applicable and not Early Adopted by the Group as at 31 December 2024 - Amendments to IAS 21 The E\ue7e8ects of Changes in Foreign Exchange Rates.As of 1 January 2025, amendments to IAS 21 are mandatory in the case of hyperin\ue6d2ationary or non-exchangeable currencies; they pro-vide the following:- specify when a currency is exchangeable into another currency and when it is not: a currency is exchangeable when an entity is able to exchange that currency for the other currency through markets or exchange mechanisms that create enforceable rights and obliga-tions without undue delay at the measurement date and for a speci\ue6d1c purpose; a currency is not exchangeable into the other currency if the entity can obtain only an insigni\ue6d1cant amount of the other currency;- specify how the entity determines the exchange rate to be applied when a currency is not exchangeable: when a currency is not ex-changeable at the measurement date, the entity estimates the spot exchange rate as the rate that would have applied to an orderly transaction between market participants at the measurement date and that would faithfully re\ue6d2ect prevailing economic conditions;- require additional disclosures when a currency is not exchangeable: when a currency is not exchangeable, an entity discloses informa-tion that would enable users of its \ue6d1nancial statements to evaluate how the lack of exchangeability of a currency a\ue7e8ects or is expected to a\ue7e8ect its results of operations, \ue6d1nancial position and cash \ue6d2ows.The amendments to IAS 21 had no impact on the Group\u2019s Consolidated Financial Statements.IFRS and IFRIC Accounting Standards, Amendments and Interpretations not yet Endorsed by the European Union and not Applicable as at 31 December 2024The table below shows the standards for which amendments have been issued but not yet approved by the European Union.IASB document Date of pubblication by IASBIFRS 18 Presentation and Disclosure in Financial Statements 09/04/2024IFRS 19 Subsidiaries without Public Accountability: Disclosures 09/05/2024Amendments to the Classi\ue6d1cation and Measurement of Financial Instruments (Amendments to IFRS 9 and IFRS 7) 30/05/2024Annual Improvements Volume 11: 18/07/2024Contracts Referencing Nature-dependent Electricity \u2013 Amendments to IFRS 9 and IFRS 7 18/12/2024Since none of them have yet been endorsed by the European Union, there is no impact on the Consolidated Financial Statements as at 31 December 2024. The Group will undertake speci\ue6d1c projects to assess the possible impact of applying the new standards.Contents of the Accounting StatementsStatement of Financial Position and Income StatementThe Statement of Financial Position and the Income Statement consist of items, sub-items and additional, more detailed information. In the Income Statement, revenues are indicated with no sign, while costs are preceded by the minus sign.Statement of Comprehensive IncomeThe Statement of Comprehensive Income starts out from the pro\ue6d1t (loss) for the period to show the items of income recognised as counter-entries in the valuation reserves, net of the relevant tax e\ue7e8ect, in compliance with the international accounting standards. Consolidated comprehensive income is presented with separate evidence of the income components that will not be recognised in the income statement in the future and those that may otherwise be reclassi\ue6d1ed to pro\ue6d1t (loss) for the year under certain conditions. The statement also distinguishes the share of pro\ue6d1tability pertaining to the Parent Company from that pertaining to minority shareholders. Negative amounts are preceded by a minus sign.Statement of Changes in EquityThe Statement of Changes in Equity shows the changes to shareholders\u2019 equity accounts that took place during the year covered by the \ue6d1nancial statements and the previous year, divided up into share capital, reserves (capital reserves and net income reserves), valuation reserves and the pro\ue6d1t (loss) for the period. Any treasury shares reduce shareholders\u2019 equity. The \u201cEquity\u201d components included in the Bond Loans issued, net of the direct transaction costs, increase equity.Statement of Cash FlowsThe statement of cash \ue6d2ows provides information on cash \ue6d2ows for the period under review and the previous period, and has been prepared using the indirect method whereby, in reporting cash \ue6d2ows from operating activities, pro\ue6d1t or loss is adjusted for the e\ue7e8ects of non-monetary transactions.Cash \ue6d2ows are broken down into those generated by operating, investing and \ue6d1nancing activities. Note that as required by IAS 7.43, cash \ue6d2ows from investing activities were excluded that did not require the use of cash or cash equivalents, including lease transactions.The cash \ue6d2ows generated in the period are indicated with no sign, while the cash \ue6d2ows absorbed in the period are preceded by the minus sign.Contents of the NotesThe Notes to the Financial Statements provide all information envisaged by the international accounting standards.Other AspectsWith regard to the amendments to IAS 12 relating to the Pillar Two Model, the following is an update to the information provided in the Consolidated Financial Statements as at 31 December 2023.International Tax Reform - Pillar Two Model - Amendments to IAS 12 - At the end of 2021 more than 135 countries, accounting for more than 90% of global GDP, reached an agreement on international tax reform introducing a Global Minimum Tax for large multinational corporations. In detail, these countries adhered to the OECD Inclusive Framework on Base Erosion and Pro\ue6d1t Shifting, which introduces a two-pillar model to address tax issues arising from the digitisation of the economy. In Europe, the Directive to implement the mini-mum tax component of the OECD reform was approved by the European Commission on 12 December 2022. Following the overcoming of reservations by some Member States, unanimous agreement was reached in the EU for the adoption of the proposed EU Directive to achieve a minimum level of e\ue7e8ective taxation of 15% for multinational groups with total revenues exceeding Euro 750 million per year. Directive No. 2523/2022 was published in the EU O\ue7e9cial Journal on 22 December 2022 and applies from the 2024 tax year. Other non-EU countries may implement the same internationally derived legislation in their national laws. With the publication of the amendments to IAS 12, the IASB sought to respond to the concerns of several stakeholders on the potential implications of the application of the Pillar Two rules on tax accounting. Speci\ue6d1cally, the amendments to the standard introduced a mandatory temporary exception that allows not recognising deferred taxation deriving from the implementation of the Pillar Two Framework. The exception, which the Group also uses for the purposes of this disclosure, is immediately applicable and retroactive. Speci\ue6d1c disclosure obligations are also imposed on impacted companies (applicable as from the annual \ue6d1nancial statements beginning on or after 1 January 2024), with di\ue7e8erent disclosure requirements to be met in periods when Pillar Two legislation is enacted or substantially enacted but not yet in force, and in periods when tax reform is in force. Transposing the aforementioned legislation through Italian Legislative Decree 209/2023, the Italian legislature introduced:- the additional minimum tax (IRR), payable by Italian-located parents of multinational or domestic groups in relation to low-taxed enterprises forming part of the group;- the supplementary minimum tax (UTPR), payable by one or more enterprises of a multinational group located in Italy with respect to enterprises belonging to the group subject to low taxation when the equivalent additional minimum tax in other countries has not been fully or partially applied (but applicable in accordance with the procedures envisaged in Articles 57 and 60 of Italian Legislative Decree 209/2023);- the national minimum tax (QDMTT), payable with respect to companies of a multinational or domestic group subject to low taxation located in Italy.Currently the Nexi Group is engaged in activities aimed at implementing a Group tool as well as the most appropriate processes and the most e\ue7e8ective ways to manage this compliance given the involvement of more than 70 companies and subsidiaries located in more than 20 jurisdictions (all European, with the exception of a permanent establishment in South Africa).Analyses were also performed to check that the simpli\ue6d1ed transitional Safe Harbour requirements are applicable in the jurisdictions the Group operates in, which \u2013 if met \u2013 would not result in tax payments arising from the application of the aforementioned new law.The Consolidated Financial Statements are accompanied by a statement by the Managing Director - CEO and by the Financial Report-ing Manager, in accordance with Article 154 bis of the TUF and subjected to an audit by the independent auditors Pricewaterhouse-Coopers SpA.Consolidation CriteriaThe Group has established the consolidation scope in accordance with IFRS 10 - Consolidated \ue6d1nancial statements. Accordingly, the concept of control is fundamental to consolidation of all types of entities. It exists when the investor concurrently:- has power over the entity relevant activities;- is exposed, or has rights, to variable returns from its involvement with the entity;- has the ability to a\ue7e8ect those returns through its power over the entity.The Group therefore consolidates all types of entities when all three control elements are present. As a rule, when an entity is mainly managed through voting rights, control derives from the holding of more than half of the voting rights.Assessment of whether control exists may be more complex in other circumstances and requires a greater use of judgement as it is necessary to consider all the factors and circumstances that give control over the entity (de facto control).In the context of the Nexi Group, all the consolidated entities are mainly controlled through voting rights. Accordingly, Nexi did not have to exercise judgements or make signi\ue6d1cant assumptions in order to establish the existence of control over subsidiaries and signi\ue6d1cant in\ue6d2uence over associates.For the preparation of the Consolidated Financial Statements as at 31 December 2024, the following were used: i) the \ue6d1nancial state-ments for the period of the Parent Company Nexi SpA and ii) the accounting results as at 31 December 2024, approved by the compe-tent bodies and functions of the fully consolidated Companies.Controlled companies have been consolidated by recognising all the assets, liabilities, revenue and costs on a line-by-line basis of the Statement of Financial Position and Income Statement aggregates of the accounting situations of subsidiaries. To this end, the following adjustments were made:- the carrying amount of equity investments held by the Parent Company and the corresponding share of the shareholders\u2019 equity have been eliminated;- recognising the equity and pro\ue6d1ts or losses of non-controlling interests separately.The di\ue7e8erences resulting from the above adjustments, if positive, are recognised after any allocation to items of the assets or liabilities of the subsidiary as goodwill or as other intangible assets in the item \u201cIntangible Assets\u201d as at the date of \ue6d1rst consolidation. Any negative di\ue7e8erences are recognised in the Income Statement.Intragroup assets and liabilities, income and expenses, as well as pro\ue6d1ts and losses are eliminated.Acquisitions of companies are accounted for according to the \u201cacquisition method\u201d envisaged in IFRS 3, on the basis of which the identi\ue6d1able assets acquired and the identi\ue6d1able liabilities assumed (including potential liabilities) are to be recognised at their respective Fair Values at the acquisition date. Moreover, for each business combination, any non-controlling interest in the acquiree may be rec-ognised at Fair Value or in proportion to the non-controlling interest\u2019s share of the acquiree\u2019s identi\ue6d1able net assets. Any excess of the consideration transferred (represented by the Fair Value of the assets sold, liabilities incurred and equity instruments issued) and the Fair Value of the minority interests over the Fair Value of the assets and liabilities acquired is recognised as goodwill. If the price is lower, the di\ue7e8erence is recognised in the income statement. The Group applies the Partial Goodwill method and therefore accounts for minority interests at the carrying amount.The \u201cacquisition method\u201d is applied from the date of acquisition, i.e. when control of the acquired company is e\ue7e8ectively obtained. Therefore, the economic results of a subsidiary acquired during the reporting period are included in the consolidated \ue6d1nancial state-ments from the date of its acquisition. Similarly, the results of operations of a transferred subsidiary are included in the consolidated \ue6d1nancial statements up to the date on which control ceased. The di\ue7e8erence between the sale consideration and the carrying amount at the date of disposal (including exchange rate di\ue7e8erences recognised in equity at the time of consolidation) is recognised in the income statement.In a multi-stage business combination, the Fair Value at the acquisition date must also be determined by reference to the interests in the acquiree previously held by the acquirer.Pursuant to IAS 28, the Group Consolidated \ue6d1nancial statements also include the results of investees, i.e., entities over which the Group has signi\ue6d1cant in\ue6d2uence and the power to participate in directing its \ue6d1nancial and operating policies without having control or joint control, as well as equity investments subject to joint control in accordance with IFRS 11. Such equity investments are measured using the shareholders\u2019 equity method which entails the initial recognition of the investment at cost and its subsequent adjustment based on the Group\u2019s share of the investee\u2019s shareholders\u2019 equity. The Group\u2019s share of the investee\u2019s pro\ue6d1t or loss for the period is recognised separately in the consolidated Income Statement.The di\ue7e8erence between the investment\u2019s carrying amount and the Group\u2019s share of its shareholders\u2019 equity is included in the invest-ment\u2019s carrying amount.If there is indication of impairment, the Group estimates the investment\u2019s recoverable amount, considering the discounted future cash \ue6d2ows that the investee may generate, including the investment\u2019s costs to sell. When the recoverable amount is less than the invest-ment\u2019s carrying amount, the di\ue7e8erence is recognised in the Income Statement.All the assets and liabilities of the subsidiaries that prepare their financial statements in currency other than the euro (so-called Foreign Operation) and that fall within the consolidation area are translated using the exchange rates in force at the reporting date (current exchange method), while the related revenues and costs are translated at the average exchange rates for the period. The translation exchange differences resulting from the application of this method are classified as a shareholders\u2019 equity item until the equity investment is disposed of in full or when the investee ceases to qualify as a subsidiary. On partial disposal, without loss of control, the portion of exchange rate differences relating to the portion of the equity investment disposed of is allocated to the shareholders\u2019 equity of the minority interests. In preparing the consolidated statement of cash flows, the cash flows of consolidated foreign companies expressed in currencies other than the euro are translated using the average exchange rates for the period. Go-odwill and Fair Value adjustments generated when allocating the purchase cost of a foreign company are recognised in the related currency and are translated using the period-end exchange rate.Scope of Consolidation The following table shows the list of subsidiaries in the Nexi Group as at 31 December 2024:% Company Structure Currency InvestorRegistered officeownershipNexi Payments S.p.A. (*) subsidiary EUR Nexi SpA 99,49 Milan, ItalyNexi Payments Greece S.A. (*) subsidiary EUR Nexi SpA 90,01 Athens, GreeceMercury Payment Services S.p.A. subsidiary EUR Nexi SpA 100 Milan, ItalyHelp Line S.p.A. subsidiary EUR Nexi SpA 69,24 Milan, ItalyHelp Line S.p.A. subsidiary EUR Nexi Payments SpA 1,06 Milan, ItalyOrbital Cultura Srl (ex Bassmart) subsidiary EUR Nexi Payments SpA 100 Florence, ItalyService HUB S.p.A. subsidiary EUR Nexi SpA 100 Milan, ItalySIApay S.r.l. (*) subsidiary EUR Nexi Payments SpA 100 Milan, ItalyNexi Central Europe A.S. subsidiary EUR Nexi SpA 100 Bratislava, SlovakiaNexi Greece Single Member S.A. subsidiary EUR Nexi SpA 100 Athens, GreeceNumera Sistemi e Informatica S.p.A. subsidiary EUR Nexi Payments SpA 100 Sassari, ItalyPforCards GmbH (Austria) subsidiary EUR Nexi SpA 100 Wien, AustriaNexi RS d.o.o. Beograd subsidiary RSD Nexi Central Europe a.s. 100 Beograd, SerbiaSIA Croatia d.o.o. subsidiary EUR Nexi Central Europe a.s. 100 Zagreb, CroatiaNexi Czech Republic, s.r.o. subsidiary CZK Nexi Central Europe a.s. 100 Prague, Czech RepublicSIA Payment Services subsidiary EUR Nexi Central Europe a.s. 100 Bratislava, SlovakiaBillBird S.A. (*) subsidiary PLN Centrum Rozliczen Elektro-nicznych 100 Krakow, PolandPolskie ePlatnosci S.A.Centrum Rozliczen Elektronicznych Polskie subsidiary PLN Nets Denmark A/S 100 Taj\u0119cina, PolandePlatnosci S.A.Nexi Germany GmbH subsidiary EUR Nexi Germany Holding GmbH 100 Eschborn, GermanyNexi Austria GmbH subsidiary EUR Nexi Germany GmbH 100 V\u00f6sedorf, AustriaNexi Germany Holding GmbH subsidiary EUR Evergood Germany 1 GmbH 100 Eschborn, GermanyNexi Germany Sales GmbH subsidiary EUR Nexi Germany Holding GmbH 100 K\u00f6ln, GermanyOrderbird AT GmbH subsidiary EUR Orderbird GmbH 100 Wien, AustriaEvergood Germany 1 GmbH subsidiary EUR Nets Holdco 1 ApS 100 Eschborn, GermanyNexi Croatia Ltd (*) subsidiary EUR Nexi Germany Holding GmbH 100 Zagreb, CroatiaNexi Slovenia Ltd subsidiary EUR Nexi Croatia Ltd 100 Ljubljana, SloveniaNets Denmark A/S (*) subsidiary DKK Nets Holdco 5 AS 100 Ballerup, DenmarkNets Estonia A/S subsidiary EUR Nets Denmark A/S 100 Tallinn, EstoniaNets Holdco 1 ApS subsidiary DKK Nexi SpA 100 Ballerup, DenmarkNets Holdco 5 AS subsidiary DKK Nets Holdco 1 ApS 100 Oslo, NorwayNets Sweden AB subsidiary SEK Nets Denmark A/S 100 Stockholm, SwedenNexi Schweiz AG subsidiary CHF Nexi Germany GmbH 100 Wallisellen, SwitzerlandOrderbird GmbH subsidiary EUR Nexi Germany GmbH 100 Berlin, GermanyPaytech Payment Provider GmbH subsidiary EUR Nexi Germany GmbH 100 Eschborn, GermanyP24 Dotcard Sp. Z o.o. subsidiary PLN Nets Denmark A/S 100 Warszawa, PolandPayPro S.A. (*) subsidiary PLN P24 Dotcard Sp. z o.o. 100 Pozna\u0144, PolandPaytrail Oyj (*) subsidiary EUR Nets Denmark A/S 100 Jyv\u00e4skyl\u00e4, FinlandPaytrail Technology Oy subsidiary EUR Paytrail Oyj 100 Jyv\u00e4skyl\u00e4, FinlandPolskie ePlatnosci Sp. z o.o. (*) subsidiary PLN Centrum Rozliczen Elektro-nicznych 100 Jasionka, PolandPolskie ePlatnosci S.A.Nexi Digital Finland Oy subsidiary EUR Nets Denmark A/S 100 Espoo, FinlandRatepay GmbH (*) subsidiary EUR Nexi Germany Holding GmbH 100 Berlin, GermanyTeam4U Sp. z o.o. subsidiary PLN Centrum Rozliczen Elektro-nicznych 75 Bydgoszcz, PolandPolskie ePlatnosci S.A.(*) = companies conducting regulated activities subject to restrictions under local supervisory regulations.Note that the scope of consolidation did not change during 2024, with the exception of the acquisition of all minority interests in Orderbird (amounting to 1.85%) and the increase in the shareholding in Nexi Payments S.p.A. following the closing of the Sparkasse transaction as described in Note 39.Note that in 2024 the following merger transactions took place within the Group:- Merger of the company Poplatek Payments Oy into Nets Denmark.- Merger of Nassa Topco AS, Nets A/S and Nets Card Processing A/S into Nets Denmark.- Merger of Checkout Finland Oy into Paytrail Oyj.- Merger of Rementi Investments S.A. into Centrum Rozliczen Elektronicznych Polskie ePlatnosci S.A.- Merger of eCard S.A. into PayPro S.A.Being business combinations under common control, these transactions had no impact on the consolidated \ue6d1nancial statements.The scope of consolidation of the Nexi Group\u2019s \ue6d1nancial statements as at 31 December 2024 includes, in addition to the companies listed above and consolidated on a line-by-line basis, the following associates measured, given the stakes and/or relevance, according to the equity method:% Company Structure Currency InvestorownershipRegistered o\ue7e9ce(***QRTAG Sp. z.o.o. (**) significant influence/joint control PLN Centrum Rozliczen Elektro-45 Pozna\u0144, Polandnicznych Polskie ePlatnosci S.A.Rs Record store (in liquidation) significant influence/joint control EUR Nexi Payments SpA 30 Genova, Italye-Boks Development A/S significant influence/joint control DKK e-Boks Group A/S 50 Hellerup, Denmarke-Boks GCC ApS significant influence/joint control DKK e-Boks International A/S 50 Hellerup, Denmarke-Boks Group A/S significant influence/joint control DKK Nets Denmark A/S 50 Hellerup, Denmarke-Boks International A/S significant influence/joint control DKK e-Boks Group A/S 50 Hellerup, Denmarke-Boks Nordic A/S significant influence/joint control DKK e-Boks Group A/S 50 Hellerup, DenmarkWEAT Electronic Datenservice GmbH (*) significant influence/joint control EUR Nexi Germany GmbH 40 D\u00fcsseldorf, GermanyComputop Paygate GmbH (**) significant influence/joint control EUR Nexi Germany Holding GmbH 30 Bamberg, GermanyComputop inc. (USA) (**) significant influence/joint control USD Computop Paygate Gmbh 30 Delaware, United StatesComputop ltd. (UK) (**) significant influence/joint control GBP Computop Paygate Gmbh 30 London, United Kingdom Computop Finance GmbH (Germany) (**) significant influence/joint control EUR Computop Paygate Gmbh 30 Bamberg, GermanyNexi Digital S.r.l. significant influence/joint control EUR Nexi SpA 49 Bari, ItalyNexi Digital Polska Sp z o.o. significant influence/joint control PLN Nexi Digital Srl 49 Warszawa, PolandDigital Commerce Finland Oy significant influence/joint control EUR Paytrail Oyj 16,67 Etel\u00e4ranta, Finland(*) = companies conducting regulated activities subject to restrictions under local supervisory regulations.(**) = Companies acquired in 2023.(***) = for indirect subsidiaries with signi\ue6d1cant in\ue6d2uence/joint control, the percentage pertaining to Nexi was indicated.Signi\ue6d1cant Assessments and Assumptions Made to Determine the Scope of ConsolidationAs mentioned above, companies in which the Group is exposed to variable returns or holds rights to such returns arising from its rela-tionship with them, and at the same time has the ability to a\ue7e8ect returns by exercising power over those entities, are considered subsid-iaries. Control can only take place if the following elements are present at the same time:- the power to direct the relevant activities of the investee;- the exposure or rights to variable returns arising from the relationship with the entity invested in;- the capacity to exercise its power over the investee company to a\ue7e8ect the amount of its returns.Speci\ue6d1cally, the Group considers the following factors when assessing the existence of control:- the purpose and structure of the investee, in order to identify the entity\u2019s objectives, its relevant activities, i.e. those that most in\ue6d2u-ence its performance, and how these activities are governed;- power, in order to understand whether the Group has contractual rights that confer the ability to direct the relevant operations;- exposure to the variability of the investee\u2019s returns, in order to assess whether the return received by the Group may potentially vary depending on the results achieved by the investee.Furthermore, in order to assess the existence of control, with the aim in particular of assessing whether the entity operates as a principal or as an agent, the Group considers the following factors:- decision-making power over the relevant activities of the investee;- rights held by other parties;- the remuneration the Group is entitled to;- the Group\u2019s exposure to the variability of returns from any investment held in the investee.IFRS 10 identi\ue6d1es as \u201cmaterial assets\u201d only those assets that signi\ue6d1cantly a\ue7e8ect the performance of the investee company. In general terms, when material assets are managed through voting rights, the following factors provide evidence of control:- ownership, directly or indirectly through its subsidiaries, of more than half of the voting rights of an entity, unless \u2013 in exceptional cases \u2013 it can be clearly demonstrated that such ownership does not constitute control;- ownership of half or less of the votes exercisable at the shareholders\u2019 meeting and the practical ability to unilaterally govern the rele-vant activities through:- control of more than half of the voting rights by virtue of an agreement with other investors;- the power to determine the \ue6d1nancial and operating policies of the entity by virtue of provisions of the articles of association or a contract;- the power to appoint or remove the majority of the members of the board of directors or equivalent corporate governance body;- the power to exercise the majority of voting rights at meetings of the board of directors or equivalent corporate governance body.In order to exercise the power, it is necessary that the Group\u2019s rights over the investee entity be substantial. To be substantial, those rights must be practically exercisable when decisions on the relevant activities are to be made. Where substantial, the existence and e\ue7e8ect of potential voting rights are taken into account when assessing whether or not there is the power to direct the \ue6d1nancial and management policies of another entity. It may sometimes be the case that \u201cde facto control\u201d is exercised over certain entities when, even in the absence of a majority of voting rights, one owns such rights as to enable one to direct the relevant activities of the investee entity in a unidirectional manner. Conversely, cases may arise where, despite owning more than half of the voting rights, one does not have control of the entities invested in because, as a result of agreements with other investors, the exposure to variable returns from the relationship with those entities is not considered signi\ue6d1cant.Subsidiaries may also include any \u201cstructured entities\u201d in which voting rights are not the determining factor for the assessment of con-trol, including special purpose vehicles (SPE/SPV) and investment funds. Structured entities are considered to be controlled where one has power through contractual rights to govern the relevant assets and is exposed to variable returns from those assets.As mentioned above, no circumstances arose that required the exercise of subjective evaluations or signi\ue6d1cant assumptions to deter-mine the scope and method of consolidation.Significant RestrictionsAs for signi\ue6d1cant restrictions applicable to the transfer of resources within the Nexi Group, note that, as speci\ue6d1ed in the \u201cScope of Con-solidation\u201d section, some companies of the Group are subject to prudential rules under supervisory regulations in order to preserve adequate capitalisation based on the risks taken. The ability of such companies to distribute capital or dividends is, therefore, subject to compliance with the relevant provisions on equity requirements.Conversely, there are no signi\ue6d1cant limitations or restrictions to the exercise of voting rights held in subsidiaries.Other InformationNo accounting records of subsidiaries used in preparing the consolidated \ue6d1nancial statements refer to non-homogeneous accounting standards or a date other than that of the consolidated \ue6d1nancial statements.As noted in the management report, the Directors con\ue6d1rm the reasonable expectation that the Group will continue to operate on a going concern basis in the foreseeable future.In this regard, the Directors believe that no risks and uncertainties have arisen that would raise doubts as to the Group\u2019s ability to continue as a going concern, and believe that the Group has a reasonable expectation of being able to continue operating in the foreseeable future.For the purpose of expressing the aforesaid opinion, the Directors also evaluated the e\ue7e8ects of the uncertainties related to the relevant macroeconomic landscape, taking into account the current geopolitical tensions, which could reasonably lead to negative repercus-sions on the Company\u2019s future results. However, the magnitude of these e\ue7e8ects is deemed not to give rise to any uncertainties as to the Group\u2019s ability to continue as a going concern, also in consideration of the current and prospective solidity of the Group\u2019s equity and \ue6d1nancial structure.For information on the Group\u2019s risks and related controls see Note 35, \u201cInformation on Risks and Related Hedging Policies\u201d in these Notes to the Financial Statements, as well as in the Management Report on Group Operations.Main Accounting PoliciesFinancial Assets at Fair Value through OCIClassi\ue6d1cation CriteriaAt the reporting date, this category only includes equity securities other than those held for trading and which the Group has opted to measure at FVTOCI. In fact, the non-derivative \ue6d1nancial assets held within the scope of the IFRS 9 \u201cHeld to Collect and Sell\u201d business model do not have a balance at the reporting date as they are sold on a daily basis as part of a factoring contract.Recognition CriteriaSubsequent to initial recognition, equity instruments for which classi\ue6d1cation in this category has been opted for are measured at fair value; gains and losses arising from changes in fair value are recognised with a balancing entry in a speci\ue6d1c equity reserve; the amounts recognised in this reserve will never be recycled in the income statement, not even if the asset is sold; in this case, it will be necessary to reclassify to another equity item. No impairment loss is recognised in the income statement for these assets as they are not subject to any impairment process. The only component recognised in the income statement is dividends.Measurement CriteriaThey are measured at Fair Value and recognised as a balancing entry in the statement of changes in equity (i.e. \u201cOther comprehensive income items\u201d). Fair Value is determined based on the criteria set out in the \u201cFair Value Disclosure\u201d section.While dividends are recognised under pro\ue6d1t and loss for the period, any impairment loss and any pro\ue6d1t or loss from their sale is not recognised in the Income Statement.Derecognition CriteriaFinancial assets or parts of such assets are derecognised whenever the contractual rights to cash \ue6d2ows expire or are transferred, essen-tially transferring all the related risks and rewards. More speci\ue6d1cally, transferred \ue6d1nancial assets are derecognised when the entity retains the contractual rights to receive the assets\u2019 cash \ue6d2ows but concurrently assumes an obligation to pay these \u2013 and only these \u2013 cash \ue6d2ows to third parties without signi\ue6d1cant delay.Financial Assets Measured at Amortised CostClassification CriteriaThis category comprises non-derivative \ue6d1nancial assets held in the \u201cHeld-to-Collect\u201d business model, the contractual terms of which solely generate cash \ue6d2ows that are payments of principal and interest (SPPI criterion).The item mainly accounts for receivables due from holders and merchants (including those deriving from the \u201cpay later\u201d solution), their bank accounts, including positions towards international card schemes. Under IFRS 9 general requirements on the reclassi\ue6d1cation of \ue6d1nancial assets, reclassi\ue6d1cations to other categories of \ue6d1nancial assets is only permitted if an entity changes the business model within which the \ue6d1nancial assets are held. Such cases, the occurrence of which should be extremely infrequent, allow reclassi\ue6d1cation of \ue6d1-nancial assets measured at Fair Value through other comprehensive income to one of the other two categories designated by IFRS 9 (i.e. \u201cFinancial assets at fair value through OCI\u201d or \u201cFinancial assets at FVPL\u201d). The transfer value, which is applied prospectively from the reclassi\ue6d1cation date, is recognised as the Fair Value at time of reclassi\ue6d1cation. Gains or losses generated by the di\ue7e8erence between the amortised cost of \ue6d1nancial assets and their fair value are recognised either to pro\ue6d1t or loss, where the assets are reclassi\ue6d1ed as \u201cFinancial assets at FVPL\u201d, or to Shareholders\u2019 Equity (and to the relevant valuation reserve), where the assets are reclassi\ue6d1ed as \u201cFinancial assets at fair value through OCI\u201d.Recognition Criteria\u201cFinancial assets measured at amortised cost\u201d are initially recognised at the agreement signing date, which is usually the disburse-ment date, based on the \ue6d1nancial instrument\u2019s Fair Value, which usually equals the amount disbursed including direct transaction costs/proceeds.Measurement CriteriaAfter initial recognition, assets included in this item are measured at amortised cost using the e\ue7e8ective interest method.\u201cFinancial assets measured at amortised cost\u201d are tested for impairment at each reporting date. The impairment rules described below also apply to loan commitments and \ue6d1nancial guarantee contracts.Impairment is calculated considering the \ue6d1nancial asset\u2019s expected credit losses. For the \ue6d1nancial receivables, application of the relat-ed impairment method requires classi\ue6d1cation of the \ue6d1nancial assets according to three stages, depending on whether any signi\ue6d1cant increase in credit risk has occurred as of initial recognition. For each stage a di\ue7e8erent method of measuring impairment is used based on the expected loss in the 12 subsequent months for receivables in Stage 1 (performing \ue6d1nancial instruments that have not seen a signi\ue6d1cant increase in credit risk) and on lifetime expected losses of receivables classi\ue6d1ed in Stage 2 and Stage 3 (including performing \ue6d1nancial instruments that have seen an increase in credit risk and bad \ue6d1nancial assets, respectively). Given the speci\ue6d1c features of the Group\u2019s credits portfolio, the expected 12-month loss is itself the expected lifetime loss.Regarding the trade receivables under the item in point, mainly consisting of merchant fees charged to the merchants, the Group made use of the option to apply the simpli\ue6d1ed approach of IFRS 9 by measuring the expected loss over the life of the instrument without applying the three-stage approach.With respect to impairment:- the Group de\ue6d1ned the methods to monitor changes in credit quality of its \ue6d1nancial assets measured at amortised cost and at Fair Value as a balancing entry in the statement of changes in equity;- since the IFRS de\ue6d1nition of exposures at default is now aligned with the regulatory de\ue6d1nition, the approach used to classify exposures as credit-impaired, which are now allocated to Stage 3, has not changed.The Group considers historical information and all the information available at the reporting date, including forward-looking informa-tion on the potential worsening in the historical losses.Impairment losses are recognised in pro\ue6d1t or loss as net impairment losses.An entity recognises an impairment gain on credit-impaired debt instruments when the reasons for the impairment no longer exist and the gain is objectively related to an event that took place after recognition of the impairment loss. Impairment gains are recognised in the Income Statement and may not exceed the amortised cost the asset would have had had the impairment loss not been recognised.Derecognition CriteriaFinancial assets or parts of \ue6d1nancial assets are derecognised when the contractual rights to cash \ue6d2ows expire or are transferred, transfer-ring substantially all the related risks and rewards.More speci\ue6d1cally, transferred \ue6d1nancial assets are derecognised when an entity retains the contractual rights to receive the assets\u2019 cash \ue6d2ows but concurrently assumes an obligation to pay these - and only these - cash \ue6d2ows to third parties without signi\ue6d1cant delay.Hedging TransactionsClassification CriteriaAsset and liability items include hedging \ue6d1nancial derivatives, which at the date of the \ue6d1nancial statements had a positive and negative fair value, respectively.Hedges seek to mitigate potential recognisable losses on a particular \ue6d1nancial instrument or group of \ue6d1nancial instruments attributable to a speci\ue6d1c risk by o\ue7e8setting them with recognisable gains on a di\ue7e8erent \ue6d1nancial instrument or group of \ue6d1nancial instruments.The following types of hedging relationships are envisaged in IFRS 9:- fair value hedge: a hedge of the exposure against changes in the fair value of a recognised asset or liability or an unrecognised \ue6d1rm commitment, or a component thereof, that is attributable to a particular risk and could a\ue7e8ect pro\ue6d1t (loss) for the period;- cash \ue6d2ow hedge: a hedge of the exposure against variability in cash \ue6d2ows attributable to a particular risk associated with all or a com-ponent of recognised assets or liabilities (such as all or only some future interest payments on variable rate debt) or a highly probable planned transaction that could a\ue7e8ect pro\ue6d1t (loss) for the period;- hedges of a net investment in a foreign operation as de\ue6d1ned in IAS 21.In the consolidated \ue6d1nancial statements, the designation of a derivative as a hedging instrument is only possible if it is entered into with a counterparty outside the Group. Any results attributable to internal transactions between di\ue7e8erent Group entities are eliminated.As established by IFRS 9, derivative instruments are designated as hedging instruments provided that the hedging relationship between the hedged instrument and the hedging instruments is formally documented and meets all the requirements of the standard, including those relating to hedge e\ue7e8ectiveness.The Group has only entered into cash \ue6d2ow hedge transactions.Recognition CriteriaHedging derivatives are initially recognised at fair value at the date of the transaction.Measurement CriteriaHedging derivatives are measured at fair value.The method of accounting for gains and losses arising from changes in fair value di\ue7e8ers according to the type of hedge.With regard to cash \ue6d2ow hedges, changes in the fair value of the derivative are recognised in Shareholders\u2019 equity for the e\ue7e8ective por-tion of the hedge, and are only recognised in the income statement when a change in the cash \ue6d2ows to be o\ue7e8set occurs or if the hedge proves ine\ue7e8ective with respect to the hedged item.In application of the accounting standard, hedging relationships must meet the following requirements:- presence of an economic relationship between the hedged item and the hedging instrument;- the non-dominance of credit risk within the Fair Value changes relating to this economic relationship;- the de\ue6d1nition of a hedge ratio that identi\ue6d1es the quantities of hedged item and hedging instrument considered in the hedging rela-tionship, so as not to create a mismatch that generates a component of ine\ue7e8ectiveness that does not properly re\ue6d2ect the objectives of the hedge.Derecognition CriteriaThe hedging relationship is terminated if the hedge e\ue7e8ectiveness test fails or the risk management objective underlying the hedging relationship has changed. In such case, the derivative instrument is classi\ue6d1ed as a trading transaction.Furthermore, the hedging relationship is interrupted when:- the hedged item is sold and repaid;- the hedging transaction is terminated early;- the derivative expires, is sold, extinguished or exercised.Equity Investments in Associates and Joint VenturesBasis of Classification, Recognition and MeasurementThis item includes equity investments in associates and joint ventures, measured using the equity method, as described in the Consol-idation criteria section.Jointly controlled companies are entities for which control is shared between the Group and one or more other parties on a contractual basis, or when the unanimous consent of all parties sharing control is required for decisions concerning material activities.Associate companies are entities in which the Group owns at least 20% of the voting rights (including potential voting rights) or in which, even with a lower proportion of voting rights, it has the power to participate in the determination of the \ue6d1nancial and management policies of the investee company by virtue of special legal ties such as participation in shareholders\u2019 agreements.Financial assets are initially recognised on the settlement date, and equity investments are recognised at cost and accounted for using the equity method. If there is evidence that the value of an investment may have been impaired, the recoverable amount of the invest-ment is estimated, considering the discounted future cash \ue6d2ows that the investee may generate, including the investment\u2019s costs to sell.When the recoverable amount is less than the investment\u2019s carrying amount, the di\ue7e8erence is recognised in the income statement. If the reasons for an impairment loss are removed as a result of an event occurring after the impairment was recognised, a reversal of the impairment loss is recognised in the income statement.Investments in entities other than subsidiaries, associates or joint ventures are classi\ue6d1ed in the portfolio of \ue6d1nancial instruments measured at Fair Value through the income statement or the portfolio of \ue6d1nancial instruments measured at Fair Value through comprehensive income.Derecognition CriteriaEquity investments are derecognised when the contractual rights to the cash \ue6d2ows from the assets expire or when the equity invest-ment is sold, substantially transferring all the risks and rewards associated with it.Tangible AssetsClassification CriteriaTangible assets include land, instrumental properties, furniture, furnishings, valuable artistic heritage, POSs and ATMs, electronic ma-chinery and equipment of all types, expected to be used for more than one year. The item also includes rights of use acquired through lease contracts, as envisaged by IFRS 16. According to IFRS 16, a lease is a contract or part of a contract that transfers the right to use an asset for a period of time in exchange for consideration.Tangible assets held for use in production or for the supply of goods and services are classi\ue6d1ed as \u201cProperty and equipment\u201d under IAS 16. Property held for investment purposes held to earn rentals or for capital appreciation or both is classi\ue6d1ed as \u201cInvestment property\u201d under IAS 40.Recognition CriteriaTangible assets acquired on the market are recognised as assets when the main risks and rewards connected with the asset are trans-ferred. Initial recognition is at cost, which includes all directly related charges.Rights of use accounted for under IFRS 16 are recognised as the sum of the present value of future lease payments to be made over the lease term, lease payments made on or before the lease term, any incentives received, initial direct costs, and any estimated costs of dismantling or restoring the underlying asset, as the lessee has a \ue6d1nancial obligation to make payments due to the lessor to compensate for its right to use the underlying asset during the lease term. Recognition occurs when the asset is made available to the lessee for its use, and on that date the lessee recognises both the liability and the asset consisting of the right of use. The recognised \ue6d1nancial liability corresponds to the present value of the lease payments due.Regarding the discount rate, on the basis of IFRS 16 requirements, the Group uses the implicit interest rate, where available, for each lease contract. If such a rate is not available or cannot be readily determined without resorting to estimates, the Group will base the marginal lending rate on market rate curves and the lessee\u2019s spread.Land is recognised separately, even when purchased jointly with the building, taking a component-based approach. The breakdown of the value of the land and that of the building is prepared on the basis of independent expert appraisals.The costs of major repairs which increase the future economic bene\ue6d1ts associated with the asset are recognised in the carrying amount of the asset, when the criteria for capitalisation are met, while the costs of day-to-day servicing are recognised in the Income Statement.Measurement CriteriaProperty, plant and equipment (for operational use and held for investment purposes) with a \ue6d1nite useful life are subsequently measured at cost adjusted for accumulated depreciation and any impairment losses and reversals.The depreciable value of property and equipment, equal to the cost of the assets insofar as the residual value at the end of the depreci-ation process is held to be insigni\ue6d1cant, is split systematically on a straight-line basis throughout the estimated useful life, according to a criterion of allocation that re\ue6d2ects the technical-economic duration and the residual possible use of the individual elements.The useful life with reference to the di\ue7e8erent categories of tangible assets is at most as follows:- Civil/industrial buildings for functional use: 33 years;- Civil/industrial buildings held for investment purposes: 33 years;- POSs: 5 years;- ATMs: 7 years;- Electrical systems 7 years;- Data centres: 7 years;- Air-conditioning systems: 7 years;- Alarm and security systems: 5 years;- Fire-\ue6d1ghting systems: 7 years;- Telephone and telecommunications equipment: 3 years;- Hardware: 5 years;- Furniture: 7 years;- Furnishings: 7 years.The rights of use recognised in accordance with IFRS 16 are depreciated over a period equal to the lesser of the asset\u2019s useful life and the duration of the lease contract. The lease term is determined taking into account periods covered by an option to extend the lease and an option to terminate the lease where the exercise of those options is reasonably certain.Land is not depreciated insofar as it has an unde\ue6d1ned useful life, and artistic heritage is not depreciated insofar as the useful life cannot be estimated and its value normally increases over time.At each reporting date, the Group weighs up whether or not there is any indication showing that tangible assets and rights of use may have su\ue7e8ered a loss in value. If there is evidence of any such loss, the carrying amount is compared with the recoverable value.Derecognition CriteriaTangible assets are derecognised when disposed of or when no further future economic bene\ue6d1t is expected from their use or decom-missioning.Intangible AssetsClassification CriteriaIntangible \ue6d1xed assets are non-monetary assets with no physical consistency, which can be identi\ue6d1ed and are able to generate future economic bene\ue6d1ts that can be controlled by the company, and include goodwill and other intangible assets governed by IAS 38. The intangible assets include rights of use acquired under leases and relating to the use of an intangible asset by the lessees.Recognition CriteriaIntangible assets are recognised at the cost of acquisition when the main risks and bene\ue6d1ts connected with the asset are transferred, but only if it is likely that the related future economic bene\ue6d1ts will be realised and if the cost can be reliably determined. If not, the cost of the intangible asset is recognised in the income statement in the year in which it is incurred. More speci\ue6d1cally, the cost of software development includes only the expenses incurred that can be directly attributed to the development process and constitute intangible assets only if all the following conditions are met:- the cost attributable to the development activity can be reliably determined;- the entity has the intention, the availability of \ue6d1nancial resources and the technical capacity to make the asset ready for use or sale;- it can be demonstrated that the asset is able to produce future economic bene\ue6d1ts.There are also intangible assets linked to the customers represented by the valuation, during combinations, of contracts with customers and permanent relations, again with customers. These assets are originally valued by discounting, using a rate that is representative of the time value of money and the speci\ue6d1c risks of the asset, of the \ue6d2ows representative of the income margins over a period expressing the residual, contractual or estimated duration of the relationships in place at the time of the combination transaction.Finally, the brand, which is also recognised in combination transactions, is valued using the \u201croyalty relief\u201d criterion.Measurement CriteriaAll intangible assets recognised, other than goodwill, are considered of \ue6d1nite useful life and consequently amortised considering the cost of the individual assets and the related useful life.More speci\ue6d1cally, intangible assets based on technology, such as application software purchased with permanent user\u2019s licenses and the costs for software development, are amortised according to their expected technological obsolescence and in any case in general over a period of \ue6d1ve years, save for particular cases connected to the development of new platforms, analysed from time to time based on the technical features whose the estimated useful life is equal to maximum 25 years..Intangible assets arising from the purchase price allocation of business combination have a useful life estimated individually for each transaction:- Customer contracts: on the basis of the contract terms;- Customer relationship: approximately 20 years;- Brand: 5 years.If there is any indication that an intangible asset with a \ue6d1nite useful life may be impaired, the asset\u2019s recoverable amount is estimated and the amount of the loss, recognised in the income statement, is equal to the di\ue7e8erence between the asset\u2019s carrying amount and its recoverable amount.Derecognition CriteriaAn intangible asset is derecognised on disposal or when no future economic bene\ue6d1ts are expected.GoodwillGoodwill is recognised in the statement of \ue6d1nancial position at cost, net of any accrued losses, and is not subject to amortisation.Goodwill may be recognised in the context of business combinations when the positive di\ue7e8erence between the consideration trans-ferred and the Fair Value of the non-controlling interest and the Fair Value of the assets acquired is representative of the future earning capacity of the equity investment (goodwill).If this di\ue7e8erence is negative (badwill) or if goodwill may not be attributed considering future potential income generation of the equity investments, the same di\ue7e8erence is directly recorded in the income statement.Even if there is no indication of impairment, goodwill is impairment tested once a year. For this purpose, goodwill is allocated to the Cash Generating Units (\u201cCGUs\u201d) identi\ue6d1ed based on the characteristics of the Group\u2019s business, its model and related organizational structure as well as internal and external reporting used. Starting from the \ue6d1nancial statements for the year ended December 31, 2022, within the Nexi Group, Cash Generating Units matches to the business units represented in the segment reporting. The recoverable amount of an asset or CGU is the greater of its value in use and its Fair Value less costs of disposal. A loss of value is recognised if the carrying amount of the CGU exceeds its recoverable value.Impairment of goodwill is recognised on the consolidated Income Statement and not restored in subsequent years.In conducting the impairment test for goodwill recorded in the Consolidated Financial Statements as at 31 December 2024, the follow-ing was also taken into account:- ESMA\u2019s Public Statement of 24 October 2024 \u201cEuropean common enforcement priorities for 2024 annual \ue6d1nancial reports\u201d as report-ed in the previous section, which among other things reiterates a number of recommendations already present in its previous Public Statement published in October 2023.- Discussion paper no. 1/2022 \u201cImpairment test of non-\ue6d1nancial assets (IAS 36)\u201d published on 29 June 2022 by the Organismo Italiano di Valutazione (\u201cOIV\u201d) following the war in Ukraine, which incorporates the contents of ESMA\u2019s Public Statement of 13 May 2022 (the sub-ject of Consob\u2019s Call for Attention of 19 May 2022) and provides operational guidance for dealing with the uncertainty of the current environment in the context of the possible exercise of the impairment test.Non-Current Assets or Groups of Assets/Liabilities Held for Sale\u201cNon-current assets held for sale and discontinued operations\u201d (in the assets) and \u201cLiabilities associated with assets held for sale and discontinued operations\u201d (in the liabilities) include all non-current assets or groups of assets/liabilities for which a decision has been made to dispose and the sale of which is considered extremely likely.These assets/liabilities are measured at the lower of their carrying value and their Fair Value less costs to sell, with the exception of cer-tain types of assets for which IFRS 5 speci\ue6d1cally provides that the valuation criteria of the relevant accounting standard must be applied (e.g. \ue6d1nancial assets within the scope of IFRS 9). Income and expenses (net of the tax e\ue7e8ect) attributable to groups of assets held for disposal or recognised as such during the period, are presented in the Income Statement in a separate item.Other Assets and LiabilitiesOther assets essentially include items awaiting arrangement and items that cannot be traced to other items of the Statement of Finan-cial Position, including receivables deriving from the supply of non-\ue6d1nancial goods and services (net of depreciation funds), tax items other than those recognised under own item (for example connected with the activity of tax substitute), accrued income other than that capitalised on the related \ue6d1nancial assets, including that deriving from contracts with customers in accordance with IFRS 15, par-agraphs 116 et seq. and costs incurred to ful\ue6d1l contracts with customers as envisaged by paragraphs 91 et seq. of IFRS 15. The item also includes inventories related to POS and ATM (including spare parts) and plastics for cards managed by the Group. These inventories are valued respectively at weighted average cost and at FIFO. At the end of the year, impairment losses are eventually recognised if the Fair Value minus the selling costs is lower than the carrying amount.Other liabilities include liabilities that cannot be allocated to the other liability items in the statement of \ue6d1nancial position, including payables associated with the payment of non-\ue6d1nancial goods and services, accrued expenses other than those to be capitalised on the relevant \ue6d1nancial liabilities, and miscellaneous tax credit items other than those recognised under \u201cTax liabilities\u201d, for example related to the activity of a withholding agent.Current and Deferred TaxIncome taxes are calculated in accordance with national tax legislation, and are accounted for as a cost on an accruals basis, in line with the method of recognition in the \ue6d1nancial statements of the costs and revenues that they generated. Taxes are therefore determined on the basis of the forecast of the current, advance and deferred tax burden.Current tax assets and liabilities include the net balance of the Group companies\u2019 positions vis-\u00e0-vis Italian and foreign tax authorities attributable to direct taxation. More speci\ue6d1cally, these items include the net balance between past and current tax liabilities for the year, calculated on the basis of a prudent forecast of the tax liability for the year, determined in accordance with current tax regulations, and current tax assets represented by advance payments, withholding taxes incurred or other tax credits.Current tax expenses, determined on the basis of the \u201cnational tax consolidation\u201d, not yet paid as at the reporting date, in full or in part, is included amongst the tax liabilities on the Statement of Financial Position. If the payment of current tax expenses for the period or current tax expenses for the previous years has exceeded the related tax payable, the surplus is entered amongst the assets of the state-ment of \ue6d1nancial position, under \u201cTax assets - a) current\u201d.Current and deferred tax expenses are recognised in the Income Statement under \u201cIncome tax for the \ue6d1nancial year on current oper-ations\u201d, with the exception of those relating to cost or revenue components recorded in speci\ue6d1c valuation reserves (de\ue6d1ned bene\ue6d1t plans, \ue6d1nancial instruments measured at Fair Value through other comprehensive income and related hedging derivatives); these latter are instead allocated directly to the same valuation reserves, which, therefore, are stated net of the relevant tax.Deferred tax assets and liabilities are recognised as equity with open balances and without netting, stating the \ue6d1rst under \u201cTax assets\u201d and the second under \u201cTax liabilities\u201d.Deferred tax assets are computed in respect of the temporary di\ue7e8erences arising between the carrying amount assigned to an asset or a liability, and their corresponding assumed value for tax purposes. For these purposes, \u201ctaxable temporary di\ue7e8erences\u201d are those that will result in taxable amounts in future periods and \u201cdeductible temporary di\ue7e8erences\u201d are those that will result in deductible amounts in future periods. Deferred taxation is calculated by applying the tax rates set forth in the applicable law to taxable temporary di\ue7e8erences for which there is a probability that taxes will actually be incurred, and to deductible temporary di\ue7e8erences for which there is a reasona-ble certainty that there will be future taxable income at the time when the related tax deductibility will arise.Deferred tax liabilities are calculated on all taxable timing di\ue7e8erences.Deferred tax assets and liabilities are determined using the tax rates expected to be applied in the period in which the tax asset is realised or the tax liability will be extinguished, in accordance with current tax legislation. Tax assets and liabilities relating to the same tax and due in the same period are o\ue7e8set.Deferred tax assets and liabilities are systematically measured to re\ue6d2ect any alterations to tax rules or rates as well as any possible chang-es in the Group companies\u2019 subjective positions.Financial Liabilities Measured at Amortised CostClassi\ue6d1cation CriteriaA \ue6d1nancial instrument issued is classi\ue6d1ed as a liability when, on the basis of the substance of the contractual agreement, a contractual obligation is held to deliver money or another \ue6d1nancial asset to a third party. More speci\ue6d1cally, the item mainly includes loans in place and facilities in place in support of the Group\u2019s electronic money business, as well as lease debts. Please note that the item also included the \u201cdebt\u201d component of the convertible bond loans issued.Recognition CriteriaPayables are recognised as at the date on which the contract is entered into, which normally coincides with the time when the amounts collected are received and debt instruments issued.Financial liabilities are initially measured at Fair Value, which normally coincides with the amount collected or issue price, plus the di-rectly related costs/income. Internal administrative costs are excluded. Lease liabilities are initially recognised at the current value of the payments due.Lease liabilities are recognised on the basis of the present value of future instalments still to be paid over the contractual term discount-ed at the implicit interest rate of the transaction, or if this cannot be determined, the marginal \ue6d1nancing rate.Measurement CriteriaAfter initial recognition, \ue6d1nancial liabilities are measured at amortised cost using the e\ue7e8ective interest method. Interest is recorded un-der the \u201cInterest and similar expense\u201d item of the Income Statement.Derecognition CriteriaFinancial liabilities, or part thereof, are derecognised when extinguished, i.e. when the obligation has been met, cancelled or expired.Financial Liabilities Measured at Fair Value through Pro\ue6d1t or LossAs at 31 December 2024 the item \u201cFinancial Liabilities Measured at Fair Value through Pro\ue6d1t or Loss\u201d includes the earn outs related to the business combination transactions executed, in addition to the fair value of outstanding options on shares of associates or subsidiaries. All the items included in this caption are valued at Fair Value with the allocation of the result of the measurement to the Income Statement.Fair Value is determined based on the criteria set out in the \u201cFair Value Disclosure\u201d section.Share-Based PaymentsSta\ue7e8 share-based remuneration plans, all falling under the \u201cEquity settled\u201d category, are recognised in the Income Statement with a corresponding increase in shareholders\u2019 equity, on the basis of the Fair Value of the \ue6d1nancial instruments attributed at the assignment date, breaking up the expense throughout the plan period and according to when the work was actually done.If options are present, their Fair Value is determined using a valuation technique that takes into account the speci\ue6d1c terms and condi-tions of the stock option plan in place, in addition to information such as the exercise price and the life of the option, the current price of underlying shares, the expected volatility of the share price, dividends expected on the shares and the risk-free interest rate for the life of the option. The measurement model measures, separately, the option and the probability of ful\ue6d1lment of the conditions on which basis the options have been assigned. The combination of the two values is the Fair Value of the stock option.Any reduction in the number of \ue6d1nancial instruments assigned is recognised as the cancellation of a portion of such.Employee Bene\ue6d1tsEmployee bene\ue6d1ts are all types of remuneration disbursed by the company in exchange for the work of employees. Employee bene\ue6d1ts are divided up into:- short-term bene\ue6d1ts (other than bene\ue6d1ts due to employees for the termination of the contract of employment and remunerative bene\ue6d1ts in the form of a share in the capital), expected to be paid in full within twelve months of the end of the period during which the employees worked and recorded fully on the Income Statement at the time they are accrued (this category includes, for example, wages, salaries and \u201cextraordinary\u201d provisions);- post-employment bene\ue6d1ts due after the termination of the contract of employment that oblige the company to make a future pay-ment to employees, divided into:- de\ue6d1ned contribution plans that mainly comprise: supplementary pension funds involving a de\ue6d1ned amount of contributions by the company; the severance pay provision, limited to the portions accrued since 1 January 2007 for companies with more than 50 employ-ees, regardless of the allocation option chosen by the employee; the portions of severance pay accrued since 1 January 2007 and allo-cated to supplementary pension funds, in the case of companies with fewer than 50 employees; and supplementary health care funds;- de\ue6d1ned bene\ue6d1t plans or company pension funds, which mainly include: severance pay, limited to the portion accrued up to 31 De-cember 2006 for all companies, as well as the portions accrued from 1 January 2007 and not allocated to supplementary pension plans for companies with fewer than 50 employees; supplementary pension funds whose terms and conditions provide for the payment of a de\ue6d1ned bene\ue6d1t to members; and seniority bonuses, which provide for an extraordinary payment to employees upon reaching a certain level of seniority;- bene\ue6d1ts for the termination of the contract of employment, i.e. compensation that the company acknowledges to employees in exchange for the termination of the contract of employment following its decision to terminate the contract of employment ahead of the standard retirement date;- long-term bene\ue6d1ts other than the foregoing, which are not expected to be extinguished in full within twelve months after the end of the period in which the employees worked.With particular regard to post-employment bene\ue6d1ts, note that in de\ue6d1ned contribution plans the reporting company\u2019s obligation is determined on the basis of the contributions due for that year, and therefore the valuation of the obligation does not require the appli-cation of actuarial methods. On the contrary, the accounting of de\ue6d1ned bene\ue6d1t plans is characterised by the use of an actuarial method to determine the value of the obligation. Speci\ue6d1cally, these bene\ue6d1ts are recognised using the \u201cProjected Unit Credit\u201d method, which involves projecting future disbursements on the basis of historical statistical analyses and the demographic curve, and discounting these \ue6d2ows on the basis of a market interest rate.The components of de\ue6d1ned bene\ue6d1t cost are recognised as follows:- service cost and net interest on the net liability (asset) in the Income Statement;- revaluations of the net de\ue6d1ned bene\ue6d1t liability (asset) in the Statement of Comprehensive Income.Actuarial gains and losses are recognised in the Statement of Comprehensive Income, with an o\ue7e8setting entry to shareholders\u2019 equity (valuation reserve).For discounting purposes, the rate used is determined by reference to the market yield on bonds of leading companies, taking into account the average remaining life of the liability, weighted by the percentage of the amount paid and advanced for each maturity with respect to the total amount to be paid and advanced until the \ue6d1nal repayment of the entire obligation.Provisions for Risks and ChargesProvisions for risks and charges include all provisions made in relation to current obligations originating from past events for which an economic outlay is probable for the ful\ue6d1lment of such obligations, as long as a reliable estimate can be made of the relevant amount. Accordingly, a provision is recognised if and only if there is a present obligation (legal or constructive) as a result of a past event, it is probable that an out\ue6d2ow of resources embodying economic bene\ue6d1ts will be required to settle the obligation and a reliable estimate can be made of the amount of the obligation. The amount recognised as a provision represents the best estimate of the expenditure required to settle the obligation existing at the date of the \ue6d1nancial statements and re\ue6d2ects risks and uncertainties that inevitably char-acterise a number of facts and circumstances. When the e\ue7e8ect of the time value of money is material, the amount of the provision is discounted at current market rates. The provision is recognised on the income statement. At the close of all \ue6d1nancial statements the provisions made are periodically reviewed, and if the incurrence of possible expenses should become unlikely the provisions are entirely or partially released to the income statement.Foreign Currency TransactionsAt initial recognition, foreign currency transactions are registered into the money of account, applying the current exchange rate in force at the date of the transaction.At each annual or interim report closing date:- the monetary elements are converted at the exchange rate in force at the reporting date;- non-monetary items measured at historical cost are converted at the exchange rate as at the date of the transaction;- non-monetary items measured at Fair Value are translated using the exchange rate at the reporting date.Exchange di\ue7e8erences relative to monetary items are recognised in the Income Statement in the period they arise; those relating to non-monetary items are recognised in Shareholders\u2019 equity or in the Income Statement consistently with the method of entering prof-its and losses that include this component.The costs and revenues in foreign currencies are recognised at the exchange rate in force at the time of booking or, if being accrued, at the exchange rate in force at the reporting date.Other InformationIncome StatementInterest Income and ExpenseInterest income and expense is recognised on the Income Statement for all instruments measured in accordance with the amortised cost criterion, using the e\ue7e8ective interest method, including commissions and transaction costs.Other Fees for Services Rendered and Commission IncomeCommission income other than that included in the amortised cost and other fees for services provided are recognised when the obli-gation of the provision is satis\ue6d1ed, transferring the service to the customer or when all the following conditions are met:- the contract with the customer has been identi\ue6d1ed;- in order to identify a contract, the parties must have approved the contract (in writing or in compliance with other standard commer-cial practices) and must have undertaken to ful\ue6d1l their respective obligations;- the performance obligations contained in the contract have been identi\ue6d1ed;- the goods and services to be transferred must be identi\ue6d1ed;- the price has been determined;- the prices and payment methods must be de\ue6d1ned;- the price has been allocated to the individual performance obligations contained in the contract;- if a contract envisages the delivery/supply of multiple goods or services, the prices agreed must be allocated to the individual goods/services;- the performance obligations contained in the contract have been satis\ue6d1ed;- goods and services must be e\ue7e8ectively transferred to the customer.Additionally, in accordance with IFRS 15, the service is transferred to the customer and, therefore, revenues can be recognised:- at a speci\ue6d1c moment in time, when the entity ful\ue6d1ls the obligation to do, transferring the good or service promised to the customer, or- over time, gradually, as the entity ful\ue6d1ls the obligation to do, transferring the good or service promised to the customer.The asset is transferred when, or during the period in which, the customer acquires control over such. The variable components of the prices, mainly relating to year-end balances and variable incentives, are included in the price if they can be reliably determined and if any refund is considered to be a remote or unlikely event. Speci\ue6d1cally:- association fees are entered on the Income Statement according to the credit card validity date;- commission income from merchants and systems are entered on the Income Statement, according to the trading date of expenses incurred by the holders;- up-front revenues connected with the start of new customers and new products are recorded throughout the expected term of the contracts;- revenues for design activities speci\ue6d1cally requested by customers are recorded during development (overtime), if any of the following conditions apply:a. the customer simultaneously receives and uses the bene\ue6d1ts deriving from the provision, as it is made;b. the provision is provided on customer\u2019s assets;c. the asset produced has no alternative use and Nexi is entitled to be paid for the work done to date; if not, the costs and revenues of the project are suspended and recorded at the end of the design phase;- the revenues connected with recurring services (mainly maintenance and rental of POSs and ATMs and processing services) are split in a linear fashion throughout the contract term.It is also noted that, in application of IFRS 15, the value of the commission is recti\ue6d1ed in order to take the Fair Value of the premiums connected with the Loyalty program into account. The Fair Value of the premium catalogue is calculated as the average unitary value of the points with respect to the market value of the premiums, including VAT and delivery expenses. The unitary Fair Value is applied to the number of points in circulation, net of the points that, on the basis of the analysis performed, are expected not to be redeemed (on the basis of the redemption estimates). Deferred commission is recognised in the Income Statement according to point redemption.Commission considered in the amortised cost to calculate the e\ue7e8ective interest rate are excluded and recognised instead under interest income.Commission ExpenseCommission expense, other than that included in the amortised cost, is recognised when incurred or when the related revenues are recorded.Fees for Services ReceivedFee for services received are recognised when incurred or when the related revenues are recorded.Costs for the implementation of the contract with the customer (such as, for example, costs for the emission of cards and ICT services incurred during the start-up of new customers/products or non-substantial contractual changes) are recognised on a straight-line basis in connection with the useful life of the underlying contracts.DividendsDividends are recognised in the Income Statement when their distribution is resolved upon.Basis for Presentation of the Segment DisclosureThe segment disclosure of the Nexi Group is based on the elements that the management uses to make its operative decisions and is therefore consistent with the information requirements envisaged by IFRS 8.Speci\ue6d1cally, the identi\ue6d1cation of the operating segments is based on the way in which the reports that the \u201cchief operating decision maker\u201d (i.e. the highest operative decision-making level, as de\ue6d1ned by IFRS 8) receives and uses for the purpose of decision-making in regard to the resources to be allocated and the assessment of results.Business CombinationsBusiness combinations are accounted for using the \u201cpurchase method\u201d, which requires: (i) the identi\ue6d1cation of the acquirer; (ii) the determination of the combination costs; (iii) the \u201cPurchase Price Allocation\u201d.According to the IFRS 3, an acquirer is identi\ue6d1ed for all business combinations. The acquirer is the entity that obtains control over an-other entity, which is the power to determine the \ue6d1nancial and management policies of that entity in order to receive bene\ue6d1ts from its activities.The consideration transferred in a business combination is equal to the Fair Value, at the acquisition date, of the assets sold, the liabilities incurred and the equity instruments issued by the acquirer in exchange for obtaining control of the acquiree. The consideration that the acquirer transfers in exchange for the acquired entity includes any assets and liabilities resulting from an agreement on the \u201cpotential consideration\u201d, to be recognised on the acquisition date on the basis of Fair Value.Based on the purchase method, on the acquisition date, the acquirer must allocate the cost of the combination (so-called PPA, \u201cPur-chase Price Allocation\u201d) to the identi\ue6d1able assets acquired and the liabilities measured at the relative Fair Value on that date, also recog-nising the value of the minority interests of the acquired entity. For further information, please refer to section 39 of the Notes.Use of Estimates and Assumptions in Preparing the Consolidated Financial StatementsIn accordance with the IASs/IFRSs, the implementation of some accounting standards illustrated above for the several balance sheet aggregates can entail the adoption, by Corporate Management, of estimates and assumptions capable of signi\ue6d1cantly impacting the values recognised in the Statement of Financial Position and in the Income Statement.The drafting of such estimates implies the use of the information available and the adoption of subjective evaluations, also based on historical experience, used for the purpose of formulating reasonable assumptions for the reporting of management-related issues. In the presence of signi\ue6d1cant uncertainties and/or activities subject to measurement of particular materiality, the valuation is supported by external experts/appraisers, by fairness opinions and/or independent assessments.By nature, the estimations and assumptions used may vary from year to year and, therefore, it cannot be ruled out that in subsequent \ue6d1nancial periods the values posted to the \ue6d1nancial statements may also vary signi\ue6d1cantly as a result of changes in the subjective evalu-ations used. Speci\ue6d1cally, the measurement process is particularly complex, considering how uncertain the macroeconomic and market contexts are, hence it is not possible to rule out that the envisaged hypotheses, while being reasonable, may not be con\ue6d1rmed in the future scenarios in which the Group shall operate. The parameters and information used to check the aforesaid amounts are therefore considerably a\ue7e8ected by such factors, which may quickly change in a way that is not currently foreseeable, to the point that future bal-ance sheet amounts might be a\ue7e8ected.The main factors of uncertainty that could a\ue7e8ect the future scenarios the Group will operate in include macroeconomic impacts related to interest rate trends, in\ue6d2ation and market trends.In that respect, please also note that an estimate can be adjusted following changes to the circumstances on which it was based or new information or even additional experience. Any change to the estimate is applied prospectively and therefore impacts the Income Statement of the period in which the change is made and, potentially, those of future years.While stressing that the use of reasonable estimates is key when drafting \ue6d1nancial statements, without this factor being held to a\ue7e8ect their reliability, below are the items in which the use of estimates and assumptions is most signi\ue6d1cant, both in terms of the materiality of the values to be recognised in the balance sheet and impacted by such policies, and in terms of the complexity of the measurements, which entails the resorting to estimates and assumptions by Corporate Management:- valuation of the \ue6d1nancial assets and liabilities measured at Fair Value not listed on active markets;- Fair Value measurement of assets and liabilities within the Purchase Price Allocation processes carried out following the completion of business combinations as described in the speci\ue6d1c section;- measurement of the \ue6d1nancial assets measured at amortised cost and loan commitments;- stock valuation;- quanti\ue6d1cation of the useful life of intangible assets with a \ue6d1nite useful life and tangible assets;- estimate of the recoverable amount of goodwill for impairment testing purposes;- quanti\ue6d1cation of employee bene\ue6d1ts and share-based payments;- quanti\ue6d1cation of provisions made for risks and charges and payables for Loyalty programmes;- assessment of the recoverability of deferred taxation.For some of the cases listed above, the main factors can be identi\ue6d1ed that are subject to estimates by the Group and therefore contrib-ute to determining the value at which assets and liabilities are recognised in the \ue6d1nancial statements. Without claiming to be exhaustive, note that:- to determine the Fair Value of \ue6d1nancial instruments not listed on active markets, if it is necessary to use parameters that cannot be deduced from the market, the main estimates concern, on the one hand, the development of future cash \ue6d2ows (or even income \ue6d2ows, in the case of equities), possibly conditioned by future events, and on the other hand the level of certain input parameters not listed on active markets;- to determine the value of goodwill and other intangible assets with a \ue6d1nite useful life arising from business combinations, with regard to the Cash Generating Units (CGUs) of the Group, the future cash \ue6d2ows in the analytical forecast period and the \ue6d2ows used to deter-mine the so-called terminal value generated by the CGU are estimated separately and appropriately discounted, and in the case of assets with a \ue6d1nite useful life the estimated useful life. The cost of capital is also included in the estimated elements;- to quantify employee bene\ue6d1ts requiring actuarial valuation, the present value of the obligations is estimated taking into account the appropriately discounted \ue6d2ows resulting from historical statistical analyses, and the demographic curve;- when quantifying provisions for risks and charges, where possible an estimate is made of the amount of disbursements required to ful\ue6d1l obligations, taking into account the actual likelihood of having to use resources;- to determine deferred taxation items, the probability of actual future taxable income (taxable temporary di\ue7e8erences) and the degree of reasonable certainty \u2013 if any \u2013 of future taxable income at the time when tax deductibility will arise (deductible temporary di\ue7e8er-ences and tax loss carryforwards) are estimated.Events after the Reporting Period No events occurred after the date of the \ue6d1nancial statements that had an impact thereon pursuant to IAS 10. For further information, please refer to Management Report.Transfers of Financial Assets Between Portfolios No transfers of \ue6d1nancial assets between portfolios occurred.",
"dimensions": {
"concept": "ifrs-full:DisclosureOfSummaryOfSignificantAccountingPoliciesExplanatory",
"language": "en",
"entity": "scheme:5493000P70CQRQG8SN85",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
}
},
"f0__s8__6__17": {
"value": "Basis of PreparationThe Group has prepared these Consolidated Financial Statements as at 31 December 2024 in accordance with the IFRS, issued by the International Accounting Standards Board (IASB) and subject to interpretation by the International Financial Reporting Interpretations Committee (IFRIC), as rati\ue6d1ed by the European Commission and transposed into Italian Law via Italian Legislative Decree 38/2005 pur-suant to Community Regulation no. 1606/2002. In preparing the Consolidated Financial Statements as at 31 December 2024, the IFRS standards endorsed and in force as at 31 December 2024 were applied, including the SIC and IFRIC interpretative documents. No dero-gations were made from the IAS/IFRS standards.In addition, as required by current legislation, the Nexi Consolidated Financial Statements are made available to the public in the iXBRL format. Note that due to some technical limits of the main tools used in the market some information contained in the Notes to the Consolidated Financial Statements, prepared in ESEF format, extracted from the XHTML format in an XBRL instance, may not be repro-duced identically to what is contained in the consolidated \ue6d1nancial statements in XHTML format.It should be noted that the publication of the Nexi Group\u2019s Consolidated Financial Statements as at 31 December 2024 was authorised by a resolution of the Board of Directors on 27 February 2025.The Consolidated Financial Statements as at 31 December 2024 comprise the Statement of Financial Position, the Income Statement, the Statement of Comprehensive Income, the Statement of Changes in Equity, the Statement of Cash Flows, the Notes to the Financial Statements, which include the criteria used for their preparation, and the related comparative information. The Consolidated Financial Statements are also accompanied by the Board of Directors\u2019 Management Report addressing the Group\u2019s operating performance, its economic results and its equity and \ue6d1nancial position.In addition to the amounts for the \ue6d1nancial year, the Financial Statements and the Notes thereto present comparative \ue6d1gures as at 31 December 2023.The Consolidated Financial Statements as at 31 December 2024 are prepared in euro which is the Company\u2019s functional currency.Unless otherwise stated, amounts in the \ue6d1nancial statements and notes are expressed in thousands of euros.As also speci\ue6d1ed in the Management Report, the measurement criteria are adopted considering the corporate business as a going concern with entries made on an accruals basis, respecting principles of relevance and signi\ue6d1cance of the accounting information and substance over form. Furthermore, no compensation is made between costs and revenues or between assets and liabilities except in cases expressly provided for or accepted by the accounting standards in force.As well as providing all information mandatory pursuant to international accounting standards, the law, Consob and ESMA, the Man-agement Report and the Notes also provide non-mandatory information deemed useful for the purposes of presenting a true and fair view of the Group\u2019s situation. In continuity with what was carried out during the preparation of the 2023 annual \ue6d1nancial statements, also for the purposes of the Consolidated Financial Statements as at 31 December 2024 reference was made to the ESMA documents and in particular to the document issued on 24 October 2024 concerning the priorities relating to the \ue6d1nancial statements prepared based on the IASs/IFRSs. Speci\ue6d1cally, the enforcement priorities for 2024 for \ue6d1nancial statements prepared in accordance with international accounting standards are:- Disclosure of liquidity risks, for which ESMA recalls the main methods of preparing the statement of cash \ue6d2ows, as well as the changes made during the year to IAS 1 in relation to the presentation of liabilities as current or non-current and to IAS 7 with reference to \ue6d1nanc-ing arrangements with suppliers, for which reference is made to the following section;- Disclosure of Management\u2019s accounting policies, estimates and assumptions: ESMA recalls that accounting policies must be tailored to the operating environment of the individual entity and that disclosure must be made of key estimates and assumptions made by Management, as well as major sources of estimation uncertainty;- Sustainability reporting: ESMA recalls the main changes that occurred as a result of the transposition of the CSRD and reminds that attention must be paid to consistency between the information reported on climate change risks in the \ue6d1nancial statements and the information contained in sustainability reporting;- Alternative Performance Measures and the preparation of the \ue6d1nancial statements in ESEF format, with regard to which reference is made to the information contained in this section and in the Management Report.In 2024 the Group applied accounting standards consistent with those of the previous year, except for the changes in accounting stand-ards issued by the IASB and e\ue7e8ective as of 1 January 2024.Speci\ue6d1cally, the following changes in accounting standards apply from 1 January 2024:1) Amendments to IFRS 16 Leases: Lease liability in a sale and leaseback.From 1 January 2024 amendments to IFRS 16 are mandatory, which specify how the lessee-seller subsequently assesses sale and lease-back transactions that meet the requirements of IFRS 15 to be accounted for as a sale. IFRS 16 clari\ue6d1es that if the selling lessee transfers the asset to another entity (the purchasing lessor) and leases back the asset from the purchasing lessor, both the selling lessee and the purchasing lessor must account for the transfer agreement and the lease under IFRS 16. To determine whether the transfer of the asset constitutes a sale, entities shall apply the requirements for determining when the obligation to do something is discharged under IFRS 15. Similarly, IFRS 15 shall be applied to determine whether the transfer of the asset is accounted for as a sale of the asset. A sale and leaseback qualify as a sale if the lessor purchaser obtains control of the underlying business.The seller-lessee measures a leaseback asset as the percentage of the former carrying amount of the asset that relates to the retained right of use. The gain (or loss) recognised by the seller is limited to the percentage of the total gain (or loss) that relates to the rights transferred to the purchaser-lessee. Any di\ue7e8erence between the sale proceeds and the fair value of the asset is a prepayment of lease instalments (if the purchase price is below market terms) or additional \ue6d1nancing (if the purchase price is above market terms). The same logic applies if the lease payments are not at market rates.2) Amendments to IAS 1: Presentation of liabilities as current and non-currentThe amendments to IAS 1 clarify that liabilities are classi\ue6d1ed as current or non-current, depending on the rights existing at the end of the reporting period.The liabilities are non-current if at the end of the reporting period the entity has a substantive right to defer the settlement of pay-ment for at least twelve months. The guidance do not require that such right must be unconditional.An entity must classify a liability as current when:a) it is expected to settle the liability in its normal operating cycle;b) it possesses it primarily for the purpose of negotiating it;c) the liability must be discharged within 12 months after the end of the \ue6d1nancial year; ord) at the end of the reporting period it does not have the right to defer settlement of the liability for at least twelve months after the end of the reporting period.All other liabilities are to be classi\ue6d1ed as non-current.Liabilities arising from \ue6d1nancing arrangements may be classi\ue6d1ed as non-current when the entity\u2019s right to defer settlement of those liabilities is subject to the entity\u2019s compliance with the terms within twelve months after the reporting period. In such situations in the notes the entity must disclose information that enables users of its \ue6d1nancial statements to understand the risk that the liabilities may become repayable within 12 months after the reporting period. The amendments also clarify that for the purposes of classifying a liability as current or non-current, settlement refers to a transfer to the counterparty that results in the settlement of the liability.3) Amendments to IAS 7 and IFRS 7: Supplier \ue6d1nancing agreementsThe objective of the disclosures referred to in the amendment to IAS 7 is to enable users of \ue6d1nancial statements to evaluate the e\ue7e8ects of supplier \ue6d1nance arrangements on an entity\u2019s liabilities and cash \ue6d2ows and on the entity\u2019s exposure to liquidity risk.To achieve this, an entity must describe the following:- Terms and conditions of the agreement.- At the beginning and end of the \ue6d1nancial year:(i) The carrying amounts of suppliers\u2019 \ue6d1nancial liabilities and the items of the \ue6d1nancial liabilities they are presented in.(ii) The carrying amounts and related items of the \ue6d1nancial liabilities referred to in (i) above for which the suppliers have already received payment from the credit institutions.(iii) The range of payment dates for both the \ue6d1nancial liabilities indicated in (i) above and for comparable trade payables that are not part of a supplier \ue6d1nance arrangement. If payment due date intervals are long, explanations of these intervals or additional intervals (e.g. strati\ue6d1ed intervals) are required.- The type and e\ue7e8ect of changes, for example the e\ue7e8ect of business combinations, exchange di\ue7e8erences or other transactions that do not require the use of cash or cash equivalents. The Amendments to IFRS 7 incorporated supplier \ue6d1nance arrangements as an additional relevant factor for liquidity risk.These changes had no impact on the Group. IFRS and IFRIC Accounting Standards, Amendments and Interpretations Endorsed by the European Union, not yet Mandatorily Applicable and not Early Adopted by the Group as at 31 December 2024 - Amendments to IAS 21 The E\ue7e8ects of Changes in Foreign Exchange Rates.As of 1 January 2025, amendments to IAS 21 are mandatory in the case of hyperin\ue6d2ationary or non-exchangeable currencies; they pro-vide the following:- specify when a currency is exchangeable into another currency and when it is not: a currency is exchangeable when an entity is able to exchange that currency for the other currency through markets or exchange mechanisms that create enforceable rights and obliga-tions without undue delay at the measurement date and for a speci\ue6d1c purpose; a currency is not exchangeable into the other currency if the entity can obtain only an insigni\ue6d1cant amount of the other currency;- specify how the entity determines the exchange rate to be applied when a currency is not exchangeable: when a currency is not ex-changeable at the measurement date, the entity estimates the spot exchange rate as the rate that would have applied to an orderly transaction between market participants at the measurement date and that would faithfully re\ue6d2ect prevailing economic conditions;- require additional disclosures when a currency is not exchangeable: when a currency is not exchangeable, an entity discloses informa-tion that would enable users of its \ue6d1nancial statements to evaluate how the lack of exchangeability of a currency a\ue7e8ects or is expected to a\ue7e8ect its results of operations, \ue6d1nancial position and cash \ue6d2ows.The amendments to IAS 21 had no impact on the Group\u2019s Consolidated Financial Statements.IFRS and IFRIC Accounting Standards, Amendments and Interpretations not yet Endorsed by the European Union and not Applicable as at 31 December 2024The table below shows the standards for which amendments have been issued but not yet approved by the European Union.IASB document Date of pubblication by IASBIFRS 18 Presentation and Disclosure in Financial Statements 09/04/2024IFRS 19 Subsidiaries without Public Accountability: Disclosures 09/05/2024Amendments to the Classi\ue6d1cation and Measurement of Financial Instruments (Amendments to IFRS 9 and IFRS 7) 30/05/2024Annual Improvements Volume 11: 18/07/2024Contracts Referencing Nature-dependent Electricity \u2013 Amendments to IFRS 9 and IFRS 7 18/12/2024Since none of them have yet been endorsed by the European Union, there is no impact on the Consolidated Financial Statements as at 31 December 2024. The Group will undertake speci\ue6d1c projects to assess the possible impact of applying the new standards.Contents of the Accounting StatementsStatement of Financial Position and Income StatementThe Statement of Financial Position and the Income Statement consist of items, sub-items and additional, more detailed information. In the Income Statement, revenues are indicated with no sign, while costs are preceded by the minus sign.Statement of Comprehensive IncomeThe Statement of Comprehensive Income starts out from the pro\ue6d1t (loss) for the period to show the items of income recognised as counter-entries in the valuation reserves, net of the relevant tax e\ue7e8ect, in compliance with the international accounting standards. Consolidated comprehensive income is presented with separate evidence of the income components that will not be recognised in the income statement in the future and those that may otherwise be reclassi\ue6d1ed to pro\ue6d1t (loss) for the year under certain conditions. The statement also distinguishes the share of pro\ue6d1tability pertaining to the Parent Company from that pertaining to minority shareholders. Negative amounts are preceded by a minus sign.Statement of Changes in EquityThe Statement of Changes in Equity shows the changes to shareholders\u2019 equity accounts that took place during the year covered by the \ue6d1nancial statements and the previous year, divided up into share capital, reserves (capital reserves and net income reserves), valuation reserves and the pro\ue6d1t (loss) for the period. Any treasury shares reduce shareholders\u2019 equity. The \u201cEquity\u201d components included in the Bond Loans issued, net of the direct transaction costs, increase equity.Statement of Cash FlowsThe statement of cash \ue6d2ows provides information on cash \ue6d2ows for the period under review and the previous period, and has been prepared using the indirect method whereby, in reporting cash \ue6d2ows from operating activities, pro\ue6d1t or loss is adjusted for the e\ue7e8ects of non-monetary transactions.Cash \ue6d2ows are broken down into those generated by operating, investing and \ue6d1nancing activities. Note that as required by IAS 7.43, cash \ue6d2ows from investing activities were excluded that did not require the use of cash or cash equivalents, including lease transactions.The cash \ue6d2ows generated in the period are indicated with no sign, while the cash \ue6d2ows absorbed in the period are preceded by the minus sign.Contents of the NotesThe Notes to the Financial Statements provide all information envisaged by the international accounting standards.Other AspectsWith regard to the amendments to IAS 12 relating to the Pillar Two Model, the following is an update to the information provided in the Consolidated Financial Statements as at 31 December 2023.International Tax Reform - Pillar Two Model - Amendments to IAS 12 - At the end of 2021 more than 135 countries, accounting for more than 90% of global GDP, reached an agreement on international tax reform introducing a Global Minimum Tax for large multinational corporations. In detail, these countries adhered to the OECD Inclusive Framework on Base Erosion and Pro\ue6d1t Shifting, which introduces a two-pillar model to address tax issues arising from the digitisation of the economy. In Europe, the Directive to implement the mini-mum tax component of the OECD reform was approved by the European Commission on 12 December 2022. Following the overcoming of reservations by some Member States, unanimous agreement was reached in the EU for the adoption of the proposed EU Directive to achieve a minimum level of e\ue7e8ective taxation of 15% for multinational groups with total revenues exceeding Euro 750 million per year. Directive No. 2523/2022 was published in the EU O\ue7e9cial Journal on 22 December 2022 and applies from the 2024 tax year. Other non-EU countries may implement the same internationally derived legislation in their national laws. With the publication of the amendments to IAS 12, the IASB sought to respond to the concerns of several stakeholders on the potential implications of the application of the Pillar Two rules on tax accounting. Speci\ue6d1cally, the amendments to the standard introduced a mandatory temporary exception that allows not recognising deferred taxation deriving from the implementation of the Pillar Two Framework. The exception, which the Group also uses for the purposes of this disclosure, is immediately applicable and retroactive. Speci\ue6d1c disclosure obligations are also imposed on impacted companies (applicable as from the annual \ue6d1nancial statements beginning on or after 1 January 2024), with di\ue7e8erent disclosure requirements to be met in periods when Pillar Two legislation is enacted or substantially enacted but not yet in force, and in periods when tax reform is in force. Transposing the aforementioned legislation through Italian Legislative Decree 209/2023, the Italian legislature introduced:- the additional minimum tax (IRR), payable by Italian-located parents of multinational or domestic groups in relation to low-taxed enterprises forming part of the group;- the supplementary minimum tax (UTPR), payable by one or more enterprises of a multinational group located in Italy with respect to enterprises belonging to the group subject to low taxation when the equivalent additional minimum tax in other countries has not been fully or partially applied (but applicable in accordance with the procedures envisaged in Articles 57 and 60 of Italian Legislative Decree 209/2023);- the national minimum tax (QDMTT), payable with respect to companies of a multinational or domestic group subject to low taxation located in Italy.Currently the Nexi Group is engaged in activities aimed at implementing a Group tool as well as the most appropriate processes and the most e\ue7e8ective ways to manage this compliance given the involvement of more than 70 companies and subsidiaries located in more than 20 jurisdictions (all European, with the exception of a permanent establishment in South Africa).Analyses were also performed to check that the simpli\ue6d1ed transitional Safe Harbour requirements are applicable in the jurisdictions the Group operates in, which \u2013 if met \u2013 would not result in tax payments arising from the application of the aforementioned new law.The Consolidated Financial Statements are accompanied by a statement by the Managing Director - CEO and by the Financial Report-ing Manager, in accordance with Article 154 bis of the TUF and subjected to an audit by the independent auditors Pricewaterhouse-Coopers SpA.Consolidation CriteriaThe Group has established the consolidation scope in accordance with IFRS 10 - Consolidated \ue6d1nancial statements. Accordingly, the concept of control is fundamental to consolidation of all types of entities. It exists when the investor concurrently:- has power over the entity relevant activities;- is exposed, or has rights, to variable returns from its involvement with the entity;- has the ability to a\ue7e8ect those returns through its power over the entity.The Group therefore consolidates all types of entities when all three control elements are present. As a rule, when an entity is mainly managed through voting rights, control derives from the holding of more than half of the voting rights.Assessment of whether control exists may be more complex in other circumstances and requires a greater use of judgement as it is necessary to consider all the factors and circumstances that give control over the entity (de facto control).In the context of the Nexi Group, all the consolidated entities are mainly controlled through voting rights. Accordingly, Nexi did not have to exercise judgements or make signi\ue6d1cant assumptions in order to establish the existence of control over subsidiaries and signi\ue6d1cant in\ue6d2uence over associates.For the preparation of the Consolidated Financial Statements as at 31 December 2024, the following were used: i) the \ue6d1nancial state-ments for the period of the Parent Company Nexi SpA and ii) the accounting results as at 31 December 2024, approved by the compe-tent bodies and functions of the fully consolidated Companies.Controlled companies have been consolidated by recognising all the assets, liabilities, revenue and costs on a line-by-line basis of the Statement of Financial Position and Income Statement aggregates of the accounting situations of subsidiaries. To this end, the following adjustments were made:- the carrying amount of equity investments held by the Parent Company and the corresponding share of the shareholders\u2019 equity have been eliminated;- recognising the equity and pro\ue6d1ts or losses of non-controlling interests separately.The di\ue7e8erences resulting from the above adjustments, if positive, are recognised after any allocation to items of the assets or liabilities of the subsidiary as goodwill or as other intangible assets in the item \u201cIntangible Assets\u201d as at the date of \ue6d1rst consolidation. Any negative di\ue7e8erences are recognised in the Income Statement.Intragroup assets and liabilities, income and expenses, as well as pro\ue6d1ts and losses are eliminated.Acquisitions of companies are accounted for according to the \u201cacquisition method\u201d envisaged in IFRS 3, on the basis of which the identi\ue6d1able assets acquired and the identi\ue6d1able liabilities assumed (including potential liabilities) are to be recognised at their respective Fair Values at the acquisition date. Moreover, for each business combination, any non-controlling interest in the acquiree may be rec-ognised at Fair Value or in proportion to the non-controlling interest\u2019s share of the acquiree\u2019s identi\ue6d1able net assets. Any excess of the consideration transferred (represented by the Fair Value of the assets sold, liabilities incurred and equity instruments issued) and the Fair Value of the minority interests over the Fair Value of the assets and liabilities acquired is recognised as goodwill. If the price is lower, the di\ue7e8erence is recognised in the income statement. The Group applies the Partial Goodwill method and therefore accounts for minority interests at the carrying amount.The \u201cacquisition method\u201d is applied from the date of acquisition, i.e. when control of the acquired company is e\ue7e8ectively obtained. Therefore, the economic results of a subsidiary acquired during the reporting period are included in the consolidated \ue6d1nancial state-ments from the date of its acquisition. Similarly, the results of operations of a transferred subsidiary are included in the consolidated \ue6d1nancial statements up to the date on which control ceased. The di\ue7e8erence between the sale consideration and the carrying amount at the date of disposal (including exchange rate di\ue7e8erences recognised in equity at the time of consolidation) is recognised in the income statement.In a multi-stage business combination, the Fair Value at the acquisition date must also be determined by reference to the interests in the acquiree previously held by the acquirer.Pursuant to IAS 28, the Group Consolidated \ue6d1nancial statements also include the results of investees, i.e., entities over which the Group has signi\ue6d1cant in\ue6d2uence and the power to participate in directing its \ue6d1nancial and operating policies without having control or joint control, as well as equity investments subject to joint control in accordance with IFRS 11. Such equity investments are measured using the shareholders\u2019 equity method which entails the initial recognition of the investment at cost and its subsequent adjustment based on the Group\u2019s share of the investee\u2019s shareholders\u2019 equity. The Group\u2019s share of the investee\u2019s pro\ue6d1t or loss for the period is recognised separately in the consolidated Income Statement.The di\ue7e8erence between the investment\u2019s carrying amount and the Group\u2019s share of its shareholders\u2019 equity is included in the invest-ment\u2019s carrying amount.If there is indication of impairment, the Group estimates the investment\u2019s recoverable amount, considering the discounted future cash \ue6d2ows that the investee may generate, including the investment\u2019s costs to sell. When the recoverable amount is less than the invest-ment\u2019s carrying amount, the di\ue7e8erence is recognised in the Income Statement.All the assets and liabilities of the subsidiaries that prepare their financial statements in currency other than the euro (so-called Foreign Operation) and that fall within the consolidation area are translated using the exchange rates in force at the reporting date (current exchange method), while the related revenues and costs are translated at the average exchange rates for the period. The translation exchange differences resulting from the application of this method are classified as a shareholders\u2019 equity item until the equity investment is disposed of in full or when the investee ceases to qualify as a subsidiary. On partial disposal, without loss of control, the portion of exchange rate differences relating to the portion of the equity investment disposed of is allocated to the shareholders\u2019 equity of the minority interests. In preparing the consolidated statement of cash flows, the cash flows of consolidated foreign companies expressed in currencies other than the euro are translated using the average exchange rates for the period. Go-odwill and Fair Value adjustments generated when allocating the purchase cost of a foreign company are recognised in the related currency and are translated using the period-end exchange rate.Scope of Consolidation The following table shows the list of subsidiaries in the Nexi Group as at 31 December 2024:% Company Structure Currency InvestorRegistered officeownershipNexi Payments S.p.A. (*) subsidiary EUR Nexi SpA 99,49 Milan, ItalyNexi Payments Greece S.A. (*) subsidiary EUR Nexi SpA 90,01 Athens, GreeceMercury Payment Services S.p.A. subsidiary EUR Nexi SpA 100 Milan, ItalyHelp Line S.p.A. subsidiary EUR Nexi SpA 69,24 Milan, ItalyHelp Line S.p.A. subsidiary EUR Nexi Payments SpA 1,06 Milan, ItalyOrbital Cultura Srl (ex Bassmart) subsidiary EUR Nexi Payments SpA 100 Florence, ItalyService HUB S.p.A. subsidiary EUR Nexi SpA 100 Milan, ItalySIApay S.r.l. (*) subsidiary EUR Nexi Payments SpA 100 Milan, ItalyNexi Central Europe A.S. subsidiary EUR Nexi SpA 100 Bratislava, SlovakiaNexi Greece Single Member S.A. subsidiary EUR Nexi SpA 100 Athens, GreeceNumera Sistemi e Informatica S.p.A. subsidiary EUR Nexi Payments SpA 100 Sassari, ItalyPforCards GmbH (Austria) subsidiary EUR Nexi SpA 100 Wien, AustriaNexi RS d.o.o. Beograd subsidiary RSD Nexi Central Europe a.s. 100 Beograd, SerbiaSIA Croatia d.o.o. subsidiary EUR Nexi Central Europe a.s. 100 Zagreb, CroatiaNexi Czech Republic, s.r.o. subsidiary CZK Nexi Central Europe a.s. 100 Prague, Czech RepublicSIA Payment Services subsidiary EUR Nexi Central Europe a.s. 100 Bratislava, SlovakiaBillBird S.A. (*) subsidiary PLN Centrum Rozliczen Elektro-nicznych 100 Krakow, PolandPolskie ePlatnosci S.A.Centrum Rozliczen Elektronicznych Polskie subsidiary PLN Nets Denmark A/S 100 Taj\u0119cina, PolandePlatnosci S.A.Nexi Germany GmbH subsidiary EUR Nexi Germany Holding GmbH 100 Eschborn, GermanyNexi Austria GmbH subsidiary EUR Nexi Germany GmbH 100 V\u00f6sedorf, AustriaNexi Germany Holding GmbH subsidiary EUR Evergood Germany 1 GmbH 100 Eschborn, GermanyNexi Germany Sales GmbH subsidiary EUR Nexi Germany Holding GmbH 100 K\u00f6ln, GermanyOrderbird AT GmbH subsidiary EUR Orderbird GmbH 100 Wien, AustriaEvergood Germany 1 GmbH subsidiary EUR Nets Holdco 1 ApS 100 Eschborn, GermanyNexi Croatia Ltd (*) subsidiary EUR Nexi Germany Holding GmbH 100 Zagreb, CroatiaNexi Slovenia Ltd subsidiary EUR Nexi Croatia Ltd 100 Ljubljana, SloveniaNets Denmark A/S (*) subsidiary DKK Nets Holdco 5 AS 100 Ballerup, DenmarkNets Estonia A/S subsidiary EUR Nets Denmark A/S 100 Tallinn, EstoniaNets Holdco 1 ApS subsidiary DKK Nexi SpA 100 Ballerup, DenmarkNets Holdco 5 AS subsidiary DKK Nets Holdco 1 ApS 100 Oslo, NorwayNets Sweden AB subsidiary SEK Nets Denmark A/S 100 Stockholm, SwedenNexi Schweiz AG subsidiary CHF Nexi Germany GmbH 100 Wallisellen, SwitzerlandOrderbird GmbH subsidiary EUR Nexi Germany GmbH 100 Berlin, GermanyPaytech Payment Provider GmbH subsidiary EUR Nexi Germany GmbH 100 Eschborn, GermanyP24 Dotcard Sp. Z o.o. subsidiary PLN Nets Denmark A/S 100 Warszawa, PolandPayPro S.A. (*) subsidiary PLN P24 Dotcard Sp. z o.o. 100 Pozna\u0144, PolandPaytrail Oyj (*) subsidiary EUR Nets Denmark A/S 100 Jyv\u00e4skyl\u00e4, FinlandPaytrail Technology Oy subsidiary EUR Paytrail Oyj 100 Jyv\u00e4skyl\u00e4, FinlandPolskie ePlatnosci Sp. z o.o. (*) subsidiary PLN Centrum Rozliczen Elektro-nicznych 100 Jasionka, PolandPolskie ePlatnosci S.A.Nexi Digital Finland Oy subsidiary EUR Nets Denmark A/S 100 Espoo, FinlandRatepay GmbH (*) subsidiary EUR Nexi Germany Holding GmbH 100 Berlin, GermanyTeam4U Sp. z o.o. subsidiary PLN Centrum Rozliczen Elektro-nicznych 75 Bydgoszcz, PolandPolskie ePlatnosci S.A.(*) = companies conducting regulated activities subject to restrictions under local supervisory regulations.Note that the scope of consolidation did not change during 2024, with the exception of the acquisition of all minority interests in Orderbird (amounting to 1.85%) and the increase in the shareholding in Nexi Payments S.p.A. following the closing of the Sparkasse transaction as described in Note 39.Note that in 2024 the following merger transactions took place within the Group:- Merger of the company Poplatek Payments Oy into Nets Denmark.- Merger of Nassa Topco AS, Nets A/S and Nets Card Processing A/S into Nets Denmark.- Merger of Checkout Finland Oy into Paytrail Oyj.- Merger of Rementi Investments S.A. into Centrum Rozliczen Elektronicznych Polskie ePlatnosci S.A.- Merger of eCard S.A. into PayPro S.A.Being business combinations under common control, these transactions had no impact on the consolidated \ue6d1nancial statements.The scope of consolidation of the Nexi Group\u2019s \ue6d1nancial statements as at 31 December 2024 includes, in addition to the companies listed above and consolidated on a line-by-line basis, the following associates measured, given the stakes and/or relevance, according to the equity method:% Company Structure Currency InvestorownershipRegistered o\ue7e9ce(***QRTAG Sp. z.o.o. (**) significant influence/joint control PLN Centrum Rozliczen Elektro-45 Pozna\u0144, Polandnicznych Polskie ePlatnosci S.A.Rs Record store (in liquidation) significant influence/joint control EUR Nexi Payments SpA 30 Genova, Italye-Boks Development A/S significant influence/joint control DKK e-Boks Group A/S 50 Hellerup, Denmarke-Boks GCC ApS significant influence/joint control DKK e-Boks International A/S 50 Hellerup, Denmarke-Boks Group A/S significant influence/joint control DKK Nets Denmark A/S 50 Hellerup, Denmarke-Boks International A/S significant influence/joint control DKK e-Boks Group A/S 50 Hellerup, Denmarke-Boks Nordic A/S significant influence/joint control DKK e-Boks Group A/S 50 Hellerup, DenmarkWEAT Electronic Datenservice GmbH (*) significant influence/joint control EUR Nexi Germany GmbH 40 D\u00fcsseldorf, GermanyComputop Paygate GmbH (**) significant influence/joint control EUR Nexi Germany Holding GmbH 30 Bamberg, GermanyComputop inc. (USA) (**) significant influence/joint control USD Computop Paygate Gmbh 30 Delaware, United StatesComputop ltd. (UK) (**) significant influence/joint control GBP Computop Paygate Gmbh 30 London, United Kingdom Computop Finance GmbH (Germany) (**) significant influence/joint control EUR Computop Paygate Gmbh 30 Bamberg, GermanyNexi Digital S.r.l. significant influence/joint control EUR Nexi SpA 49 Bari, ItalyNexi Digital Polska Sp z o.o. significant influence/joint control PLN Nexi Digital Srl 49 Warszawa, PolandDigital Commerce Finland Oy significant influence/joint control EUR Paytrail Oyj 16,67 Etel\u00e4ranta, Finland(*) = companies conducting regulated activities subject to restrictions under local supervisory regulations.(**) = Companies acquired in 2023.(***) = for indirect subsidiaries with signi\ue6d1cant in\ue6d2uence/joint control, the percentage pertaining to Nexi was indicated.Signi\ue6d1cant Assessments and Assumptions Made to Determine the Scope of ConsolidationAs mentioned above, companies in which the Group is exposed to variable returns or holds rights to such returns arising from its rela-tionship with them, and at the same time has the ability to a\ue7e8ect returns by exercising power over those entities, are considered subsid-iaries. Control can only take place if the following elements are present at the same time:- the power to direct the relevant activities of the investee;- the exposure or rights to variable returns arising from the relationship with the entity invested in;- the capacity to exercise its power over the investee company to a\ue7e8ect the amount of its returns.Speci\ue6d1cally, the Group considers the following factors when assessing the existence of control:- the purpose and structure of the investee, in order to identify the entity\u2019s objectives, its relevant activities, i.e. those that most in\ue6d2u-ence its performance, and how these activities are governed;- power, in order to understand whether the Group has contractual rights that confer the ability to direct the relevant operations;- exposure to the variability of the investee\u2019s returns, in order to assess whether the return received by the Group may potentially vary depending on the results achieved by the investee.Furthermore, in order to assess the existence of control, with the aim in particular of assessing whether the entity operates as a principal or as an agent, the Group considers the following factors:- decision-making power over the relevant activities of the investee;- rights held by other parties;- the remuneration the Group is entitled to;- the Group\u2019s exposure to the variability of returns from any investment held in the investee.IFRS 10 identi\ue6d1es as \u201cmaterial assets\u201d only those assets that signi\ue6d1cantly a\ue7e8ect the performance of the investee company. In general terms, when material assets are managed through voting rights, the following factors provide evidence of control:- ownership, directly or indirectly through its subsidiaries, of more than half of the voting rights of an entity, unless \u2013 in exceptional cases \u2013 it can be clearly demonstrated that such ownership does not constitute control;- ownership of half or less of the votes exercisable at the shareholders\u2019 meeting and the practical ability to unilaterally govern the rele-vant activities through:- control of more than half of the voting rights by virtue of an agreement with other investors;- the power to determine the \ue6d1nancial and operating policies of the entity by virtue of provisions of the articles of association or a contract;- the power to appoint or remove the majority of the members of the board of directors or equivalent corporate governance body;- the power to exercise the majority of voting rights at meetings of the board of directors or equivalent corporate governance body.In order to exercise the power, it is necessary that the Group\u2019s rights over the investee entity be substantial. To be substantial, those rights must be practically exercisable when decisions on the relevant activities are to be made. Where substantial, the existence and e\ue7e8ect of potential voting rights are taken into account when assessing whether or not there is the power to direct the \ue6d1nancial and management policies of another entity. It may sometimes be the case that \u201cde facto control\u201d is exercised over certain entities when, even in the absence of a majority of voting rights, one owns such rights as to enable one to direct the relevant activities of the investee entity in a unidirectional manner. Conversely, cases may arise where, despite owning more than half of the voting rights, one does not have control of the entities invested in because, as a result of agreements with other investors, the exposure to variable returns from the relationship with those entities is not considered signi\ue6d1cant.Subsidiaries may also include any \u201cstructured entities\u201d in which voting rights are not the determining factor for the assessment of con-trol, including special purpose vehicles (SPE/SPV) and investment funds. Structured entities are considered to be controlled where one has power through contractual rights to govern the relevant assets and is exposed to variable returns from those assets.As mentioned above, no circumstances arose that required the exercise of subjective evaluations or signi\ue6d1cant assumptions to deter-mine the scope and method of consolidation.Significant RestrictionsAs for signi\ue6d1cant restrictions applicable to the transfer of resources within the Nexi Group, note that, as speci\ue6d1ed in the \u201cScope of Con-solidation\u201d section, some companies of the Group are subject to prudential rules under supervisory regulations in order to preserve adequate capitalisation based on the risks taken. The ability of such companies to distribute capital or dividends is, therefore, subject to compliance with the relevant provisions on equity requirements.Conversely, there are no signi\ue6d1cant limitations or restrictions to the exercise of voting rights held in subsidiaries.Other InformationNo accounting records of subsidiaries used in preparing the consolidated \ue6d1nancial statements refer to non-homogeneous accounting standards or a date other than that of the consolidated \ue6d1nancial statements.As noted in the management report, the Directors con\ue6d1rm the reasonable expectation that the Group will continue to operate on a going concern basis in the foreseeable future.In this regard, the Directors believe that no risks and uncertainties have arisen that would raise doubts as to the Group\u2019s ability to continue as a going concern, and believe that the Group has a reasonable expectation of being able to continue operating in the foreseeable future.For the purpose of expressing the aforesaid opinion, the Directors also evaluated the e\ue7e8ects of the uncertainties related to the relevant macroeconomic landscape, taking into account the current geopolitical tensions, which could reasonably lead to negative repercus-sions on the Company\u2019s future results. However, the magnitude of these e\ue7e8ects is deemed not to give rise to any uncertainties as to the Group\u2019s ability to continue as a going concern, also in consideration of the current and prospective solidity of the Group\u2019s equity and \ue6d1nancial structure.For information on the Group\u2019s risks and related controls see Note 35, \u201cInformation on Risks and Related Hedging Policies\u201d in these Notes to the Financial Statements, as well as in the Management Report on Group Operations.Main Accounting Policies",
"dimensions": {
"concept": "ifrs-full:DisclosureOfBasisOfConsolidationExplanatory",
"language": "en",
"entity": "scheme:5493000P70CQRQG8SN85",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
}
},
"f0__s8__6__18": {
"value": "Financial Assets at Fair Value through OCIClassi\ue6d1cation CriteriaAt the reporting date, this category only includes equity securities other than those held for trading and which the Group has opted to measure at FVTOCI. In fact, the non-derivative \ue6d1nancial assets held within the scope of the IFRS 9 \u201cHeld to Collect and Sell\u201d business model do not have a balance at the reporting date as they are sold on a daily basis as part of a factoring contract.Recognition CriteriaSubsequent to initial recognition, equity instruments for which classi\ue6d1cation in this category has been opted for are measured at fair value; gains and losses arising from changes in fair value are recognised with a balancing entry in a speci\ue6d1c equity reserve; the amounts recognised in this reserve will never be recycled in the income statement, not even if the asset is sold; in this case, it will be necessary to reclassify to another equity item. No impairment loss is recognised in the income statement for these assets as they are not subject to any impairment process. The only component recognised in the income statement is dividends.Measurement CriteriaThey are measured at Fair Value and recognised as a balancing entry in the statement of changes in equity (i.e. \u201cOther comprehensive income items\u201d). Fair Value is determined based on the criteria set out in the \u201cFair Value Disclosure\u201d section.While dividends are recognised under pro\ue6d1t and loss for the period, any impairment loss and any pro\ue6d1t or loss from their sale is not recognised in the Income Statement.Derecognition CriteriaFinancial assets or parts of such assets are derecognised whenever the contractual rights to cash \ue6d2ows expire or are transferred, essen-tially transferring all the related risks and rewards. More speci\ue6d1cally, transferred \ue6d1nancial assets are derecognised when the entity retains the contractual rights to receive the assets\u2019 cash \ue6d2ows but concurrently assumes an obligation to pay these \u2013 and only these \u2013 cash \ue6d2ows to third parties without signi\ue6d1cant delay.",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForFinancialInstrumentsAtFairValueThroughProfitOrLossExplanatory",
"language": "en",
"entity": "scheme:5493000P70CQRQG8SN85",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
}
},
"f0__s8__6__19": {
"value": "Financial Assets Measured at Amortised CostClassification CriteriaThis category comprises non-derivative \ue6d1nancial assets held in the \u201cHeld-to-Collect\u201d business model, the contractual terms of which solely generate cash \ue6d2ows that are payments of principal and interest (SPPI criterion).The item mainly accounts for receivables due from holders and merchants (including those deriving from the \u201cpay later\u201d solution), their bank accounts, including positions towards international card schemes. Under IFRS 9 general requirements on the reclassi\ue6d1cation of \ue6d1nancial assets, reclassi\ue6d1cations to other categories of \ue6d1nancial assets is only permitted if an entity changes the business model within which the \ue6d1nancial assets are held. Such cases, the occurrence of which should be extremely infrequent, allow reclassi\ue6d1cation of \ue6d1-nancial assets measured at Fair Value through other comprehensive income to one of the other two categories designated by IFRS 9 (i.e. \u201cFinancial assets at fair value through OCI\u201d or \u201cFinancial assets at FVPL\u201d). The transfer value, which is applied prospectively from the reclassi\ue6d1cation date, is recognised as the Fair Value at time of reclassi\ue6d1cation. Gains or losses generated by the di\ue7e8erence between the amortised cost of \ue6d1nancial assets and their fair value are recognised either to pro\ue6d1t or loss, where the assets are reclassi\ue6d1ed as \u201cFinancial assets at FVPL\u201d, or to Shareholders\u2019 Equity (and to the relevant valuation reserve), where the assets are reclassi\ue6d1ed as \u201cFinancial assets at fair value through OCI\u201d.Recognition Criteria\u201cFinancial assets measured at amortised cost\u201d are initially recognised at the agreement signing date, which is usually the disburse-ment date, based on the \ue6d1nancial instrument\u2019s Fair Value, which usually equals the amount disbursed including direct transaction costs/proceeds.Measurement CriteriaAfter initial recognition, assets included in this item are measured at amortised cost using the e\ue7e8ective interest method.\u201cFinancial assets measured at amortised cost\u201d are tested for impairment at each reporting date. The impairment rules described below also apply to loan commitments and \ue6d1nancial guarantee contracts.Impairment is calculated considering the \ue6d1nancial asset\u2019s expected credit losses. For the \ue6d1nancial receivables, application of the relat-ed impairment method requires classi\ue6d1cation of the \ue6d1nancial assets according to three stages, depending on whether any signi\ue6d1cant increase in credit risk has occurred as of initial recognition. For each stage a di\ue7e8erent method of measuring impairment is used based on the expected loss in the 12 subsequent months for receivables in Stage 1 (performing \ue6d1nancial instruments that have not seen a signi\ue6d1cant increase in credit risk) and on lifetime expected losses of receivables classi\ue6d1ed in Stage 2 and Stage 3 (including performing \ue6d1nancial instruments that have seen an increase in credit risk and bad \ue6d1nancial assets, respectively). Given the speci\ue6d1c features of the Group\u2019s credits portfolio, the expected 12-month loss is itself the expected lifetime loss.Regarding the trade receivables under the item in point, mainly consisting of merchant fees charged to the merchants, the Group made use of the option to apply the simpli\ue6d1ed approach of IFRS 9 by measuring the expected loss over the life of the instrument without applying the three-stage approach.With respect to impairment:- the Group de\ue6d1ned the methods to monitor changes in credit quality of its \ue6d1nancial assets measured at amortised cost and at Fair Value as a balancing entry in the statement of changes in equity;- since the IFRS de\ue6d1nition of exposures at default is now aligned with the regulatory de\ue6d1nition, the approach used to classify exposures as credit-impaired, which are now allocated to Stage 3, has not changed.The Group considers historical information and all the information available at the reporting date, including forward-looking informa-tion on the potential worsening in the historical losses.Impairment losses are recognised in pro\ue6d1t or loss as net impairment losses.An entity recognises an impairment gain on credit-impaired debt instruments when the reasons for the impairment no longer exist and the gain is objectively related to an event that took place after recognition of the impairment loss. Impairment gains are recognised in the Income Statement and may not exceed the amortised cost the asset would have had had the impairment loss not been recognised.Derecognition CriteriaFinancial assets or parts of \ue6d1nancial assets are derecognised when the contractual rights to cash \ue6d2ows expire or are transferred, transfer-ring substantially all the related risks and rewards.More speci\ue6d1cally, transferred \ue6d1nancial assets are derecognised when an entity retains the contractual rights to receive the assets\u2019 cash \ue6d2ows but concurrently assumes an obligation to pay these - and only these - cash \ue6d2ows to third parties without signi\ue6d1cant delay.",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForFinancialAssetsExplanatory",
"language": "en",
"entity": "scheme:5493000P70CQRQG8SN85",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
}
},
"f0__s8__6__20": {
"value": "Hedging TransactionsClassification CriteriaAsset and liability items include hedging \ue6d1nancial derivatives, which at the date of the \ue6d1nancial statements had a positive and negative fair value, respectively.Hedges seek to mitigate potential recognisable losses on a particular \ue6d1nancial instrument or group of \ue6d1nancial instruments attributable to a speci\ue6d1c risk by o\ue7e8setting them with recognisable gains on a di\ue7e8erent \ue6d1nancial instrument or group of \ue6d1nancial instruments.The following types of hedging relationships are envisaged in IFRS 9:- fair value hedge: a hedge of the exposure against changes in the fair value of a recognised asset or liability or an unrecognised \ue6d1rm commitment, or a component thereof, that is attributable to a particular risk and could a\ue7e8ect pro\ue6d1t (loss) for the period;- cash \ue6d2ow hedge: a hedge of the exposure against variability in cash \ue6d2ows attributable to a particular risk associated with all or a com-ponent of recognised assets or liabilities (such as all or only some future interest payments on variable rate debt) or a highly probable planned transaction that could a\ue7e8ect pro\ue6d1t (loss) for the period;- hedges of a net investment in a foreign operation as de\ue6d1ned in IAS 21.In the consolidated \ue6d1nancial statements, the designation of a derivative as a hedging instrument is only possible if it is entered into with a counterparty outside the Group. Any results attributable to internal transactions between di\ue7e8erent Group entities are eliminated.As established by IFRS 9, derivative instruments are designated as hedging instruments provided that the hedging relationship between the hedged instrument and the hedging instruments is formally documented and meets all the requirements of the standard, including those relating to hedge e\ue7e8ectiveness.The Group has only entered into cash \ue6d2ow hedge transactions.Recognition CriteriaHedging derivatives are initially recognised at fair value at the date of the transaction.Measurement CriteriaHedging derivatives are measured at fair value.The method of accounting for gains and losses arising from changes in fair value di\ue7e8ers according to the type of hedge.With regard to cash \ue6d2ow hedges, changes in the fair value of the derivative are recognised in Shareholders\u2019 equity for the e\ue7e8ective por-tion of the hedge, and are only recognised in the income statement when a change in the cash \ue6d2ows to be o\ue7e8set occurs or if the hedge proves ine\ue7e8ective with respect to the hedged item.In application of the accounting standard, hedging relationships must meet the following requirements:- presence of an economic relationship between the hedged item and the hedging instrument;- the non-dominance of credit risk within the Fair Value changes relating to this economic relationship;- the de\ue6d1nition of a hedge ratio that identi\ue6d1es the quantities of hedged item and hedging instrument considered in the hedging rela-tionship, so as not to create a mismatch that generates a component of ine\ue7e8ectiveness that does not properly re\ue6d2ect the objectives of the hedge.Derecognition CriteriaThe hedging relationship is terminated if the hedge e\ue7e8ectiveness test fails or the risk management objective underlying the hedging relationship has changed. In such case, the derivative instrument is classi\ue6d1ed as a trading transaction.Furthermore, the hedging relationship is interrupted when:- the hedged item is sold and repaid;- the hedging transaction is terminated early;- the derivative expires, is sold, extinguished or exercised.",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForHedgingExplanatory",
"language": "en",
"entity": "scheme:5493000P70CQRQG8SN85",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
}
},
"f0__s8__6__21": {
"value": "Equity Investments in Associates and Joint VenturesBasis of Classification, Recognition and MeasurementThis item includes equity investments in associates and joint ventures, measured using the equity method, as described in the Consol-idation criteria section.Jointly controlled companies are entities for which control is shared between the Group and one or more other parties on a contractual basis, or when the unanimous consent of all parties sharing control is required for decisions concerning material activities.Associate companies are entities in which the Group owns at least 20% of the voting rights (including potential voting rights) or in which, even with a lower proportion of voting rights, it has the power to participate in the determination of the \ue6d1nancial and management policies of the investee company by virtue of special legal ties such as participation in shareholders\u2019 agreements.Financial assets are initially recognised on the settlement date, and equity investments are recognised at cost and accounted for using the equity method. If there is evidence that the value of an investment may have been impaired, the recoverable amount of the invest-ment is estimated, considering the discounted future cash \ue6d2ows that the investee may generate, including the investment\u2019s costs to sell.When the recoverable amount is less than the investment\u2019s carrying amount, the di\ue7e8erence is recognised in the income statement. If the reasons for an impairment loss are removed as a result of an event occurring after the impairment was recognised, a reversal of the impairment loss is recognised in the income statement.Investments in entities other than subsidiaries, associates or joint ventures are classi\ue6d1ed in the portfolio of \ue6d1nancial instruments measured at Fair Value through the income statement or the portfolio of \ue6d1nancial instruments measured at Fair Value through comprehensive income.Derecognition CriteriaEquity investments are derecognised when the contractual rights to the cash \ue6d2ows from the assets expire or when the equity invest-ment is sold, substantially transferring all the risks and rewards associated with it.",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForInvestmentInAssociatesAndJointVenturesExplanatory",
"language": "en",
"entity": "scheme:5493000P70CQRQG8SN85",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
}
},
"f0__s8__6__22": {
"value": "Tangible AssetsClassification CriteriaTangible assets include land, instrumental properties, furniture, furnishings, valuable artistic heritage, POSs and ATMs, electronic ma-chinery and equipment of all types, expected to be used for more than one year. The item also includes rights of use acquired through lease contracts, as envisaged by IFRS 16. According to IFRS 16, a lease is a contract or part of a contract that transfers the right to use an asset for a period of time in exchange for consideration.Tangible assets held for use in production or for the supply of goods and services are classi\ue6d1ed as \u201cProperty and equipment\u201d under IAS 16. Property held for investment purposes held to earn rentals or for capital appreciation or both is classi\ue6d1ed as \u201cInvestment property\u201d under IAS 40.Recognition CriteriaTangible assets acquired on the market are recognised as assets when the main risks and rewards connected with the asset are trans-ferred. Initial recognition is at cost, which includes all directly related charges.Rights of use accounted for under IFRS 16 are recognised as the sum of the present value of future lease payments to be made over the lease term, lease payments made on or before the lease term, any incentives received, initial direct costs, and any estimated costs of dismantling or restoring the underlying asset, as the lessee has a \ue6d1nancial obligation to make payments due to the lessor to compensate for its right to use the underlying asset during the lease term. Recognition occurs when the asset is made available to the lessee for its use, and on that date the lessee recognises both the liability and the asset consisting of the right of use. The recognised \ue6d1nancial liability corresponds to the present value of the lease payments due.Regarding the discount rate, on the basis of IFRS 16 requirements, the Group uses the implicit interest rate, where available, for each lease contract. If such a rate is not available or cannot be readily determined without resorting to estimates, the Group will base the marginal lending rate on market rate curves and the lessee\u2019s spread.Land is recognised separately, even when purchased jointly with the building, taking a component-based approach. The breakdown of the value of the land and that of the building is prepared on the basis of independent expert appraisals.The costs of major repairs which increase the future economic bene\ue6d1ts associated with the asset are recognised in the carrying amount of the asset, when the criteria for capitalisation are met, while the costs of day-to-day servicing are recognised in the Income Statement.Measurement CriteriaProperty, plant and equipment (for operational use and held for investment purposes) with a \ue6d1nite useful life are subsequently measured at cost adjusted for accumulated depreciation and any impairment losses and reversals.The depreciable value of property and equipment, equal to the cost of the assets insofar as the residual value at the end of the depreci-ation process is held to be insigni\ue6d1cant, is split systematically on a straight-line basis throughout the estimated useful life, according to a criterion of allocation that re\ue6d2ects the technical-economic duration and the residual possible use of the individual elements.The useful life with reference to the di\ue7e8erent categories of tangible assets is at most as follows:- Civil/industrial buildings for functional use: 33 years;- Civil/industrial buildings held for investment purposes: 33 years;- POSs: 5 years;- ATMs: 7 years;- Electrical systems 7 years;- Data centres: 7 years;- Air-conditioning systems: 7 years;- Alarm and security systems: 5 years;- Fire-\ue6d1ghting systems: 7 years;- Telephone and telecommunications equipment: 3 years;- Hardware: 5 years;- Furniture: 7 years;- Furnishings: 7 years.The rights of use recognised in accordance with IFRS 16 are depreciated over a period equal to the lesser of the asset\u2019s useful life and the duration of the lease contract. The lease term is determined taking into account periods covered by an option to extend the lease and an option to terminate the lease where the exercise of those options is reasonably certain.Land is not depreciated insofar as it has an unde\ue6d1ned useful life, and artistic heritage is not depreciated insofar as the useful life cannot be estimated and its value normally increases over time.At each reporting date, the Group weighs up whether or not there is any indication showing that tangible assets and rights of use may have su\ue7e8ered a loss in value. If there is evidence of any such loss, the carrying amount is compared with the recoverable value.Derecognition CriteriaTangible assets are derecognised when disposed of or when no further future economic bene\ue6d1t is expected from their use or decom-missioning.",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForPropertyPlantAndEquipmentExplanatory",
"language": "en",
"entity": "scheme:5493000P70CQRQG8SN85",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
}
},
"f0__s8__6__23": {
"value": "Intangible AssetsClassification CriteriaIntangible \ue6d1xed assets are non-monetary assets with no physical consistency, which can be identi\ue6d1ed and are able to generate future economic bene\ue6d1ts that can be controlled by the company, and include goodwill and other intangible assets governed by IAS 38. The intangible assets include rights of use acquired under leases and relating to the use of an intangible asset by the lessees.Recognition CriteriaIntangible assets are recognised at the cost of acquisition when the main risks and bene\ue6d1ts connected with the asset are transferred, but only if it is likely that the related future economic bene\ue6d1ts will be realised and if the cost can be reliably determined. If not, the cost of the intangible asset is recognised in the income statement in the year in which it is incurred. More speci\ue6d1cally, the cost of software development includes only the expenses incurred that can be directly attributed to the development process and constitute intangible assets only if all the following conditions are met:- the cost attributable to the development activity can be reliably determined;- the entity has the intention, the availability of \ue6d1nancial resources and the technical capacity to make the asset ready for use or sale;- it can be demonstrated that the asset is able to produce future economic bene\ue6d1ts.There are also intangible assets linked to the customers represented by the valuation, during combinations, of contracts with customers and permanent relations, again with customers. These assets are originally valued by discounting, using a rate that is representative of the time value of money and the speci\ue6d1c risks of the asset, of the \ue6d2ows representative of the income margins over a period expressing the residual, contractual or estimated duration of the relationships in place at the time of the combination transaction.Finally, the brand, which is also recognised in combination transactions, is valued using the \u201croyalty relief\u201d criterion.Measurement CriteriaAll intangible assets recognised, other than goodwill, are considered of \ue6d1nite useful life and consequently amortised considering the cost of the individual assets and the related useful life.More speci\ue6d1cally, intangible assets based on technology, such as application software purchased with permanent user\u2019s licenses and the costs for software development, are amortised according to their expected technological obsolescence and in any case in general over a period of \ue6d1ve years, save for particular cases connected to the development of new platforms, analysed from time to time based on the technical features whose the estimated useful life is equal to maximum 25 years..Intangible assets arising from the purchase price allocation of business combination have a useful life estimated individually for each transaction:- Customer contracts: on the basis of the contract terms;- Customer relationship: approximately 20 years;- Brand: 5 years.If there is any indication that an intangible asset with a \ue6d1nite useful life may be impaired, the asset\u2019s recoverable amount is estimated and the amount of the loss, recognised in the income statement, is equal to the di\ue7e8erence between the asset\u2019s carrying amount and its recoverable amount.Derecognition CriteriaAn intangible asset is derecognised on disposal or when no future economic bene\ue6d1ts are expected.",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForIntangibleAssetsOtherThanGoodwillExplanatory",
"language": "en",
"entity": "scheme:5493000P70CQRQG8SN85",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
}
},
"f0__s8__6__24": {
"value": "GoodwillGoodwill is recognised in the statement of \ue6d1nancial position at cost, net of any accrued losses, and is not subject to amortisation.Goodwill may be recognised in the context of business combinations when the positive di\ue7e8erence between the consideration trans-ferred and the Fair Value of the non-controlling interest and the Fair Value of the assets acquired is representative of the future earning capacity of the equity investment (goodwill).If this di\ue7e8erence is negative (badwill) or if goodwill may not be attributed considering future potential income generation of the equity investments, the same di\ue7e8erence is directly recorded in the income statement.Even if there is no indication of impairment, goodwill is impairment tested once a year. For this purpose, goodwill is allocated to the Cash Generating Units (\u201cCGUs\u201d) identi\ue6d1ed based on the characteristics of the Group\u2019s business, its model and related organizational structure as well as internal and external reporting used. Starting from the \ue6d1nancial statements for the year ended December 31, 2022, within the Nexi Group, Cash Generating Units matches to the business units represented in the segment reporting. The recoverable amount of an asset or CGU is the greater of its value in use and its Fair Value less costs of disposal. A loss of value is recognised if the carrying amount of the CGU exceeds its recoverable value.Impairment of goodwill is recognised on the consolidated Income Statement and not restored in subsequent years.In conducting the impairment test for goodwill recorded in the Consolidated Financial Statements as at 31 December 2024, the follow-ing was also taken into account:- ESMA\u2019s Public Statement of 24 October 2024 \u201cEuropean common enforcement priorities for 2024 annual \ue6d1nancial reports\u201d as report-ed in the previous section, which among other things reiterates a number of recommendations already present in its previous Public Statement published in October 2023.- Discussion paper no. 1/2022 \u201cImpairment test of non-\ue6d1nancial assets (IAS 36)\u201d published on 29 June 2022 by the Organismo Italiano di Valutazione (\u201cOIV\u201d) following the war in Ukraine, which incorporates the contents of ESMA\u2019s Public Statement of 13 May 2022 (the sub-ject of Consob\u2019s Call for Attention of 19 May 2022) and provides operational guidance for dealing with the uncertainty of the current environment in the context of the possible exercise of the impairment test.",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForGoodwillExplanatory",
"language": "en",
"entity": "scheme:5493000P70CQRQG8SN85",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
}
},
"f0__s8__6__25": {
"value": "Non-Current Assets or Groups of Assets/Liabilities Held for Sale\u201cNon-current assets held for sale and discontinued operations\u201d (in the assets) and \u201cLiabilities associated with assets held for sale and discontinued operations\u201d (in the liabilities) include all non-current assets or groups of assets/liabilities for which a decision has been made to dispose and the sale of which is considered extremely likely.These assets/liabilities are measured at the lower of their carrying value and their Fair Value less costs to sell, with the exception of cer-tain types of assets for which IFRS 5 speci\ue6d1cally provides that the valuation criteria of the relevant accounting standard must be applied (e.g. \ue6d1nancial assets within the scope of IFRS 9). Income and expenses (net of the tax e\ue7e8ect) attributable to groups of assets held for disposal or recognised as such during the period, are presented in the Income Statement in a separate item.",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForNoncurrentAssetsOrDisposalGroupsClassifiedAsHeldForSaleExplanatory",
"language": "en",
"entity": "scheme:5493000P70CQRQG8SN85",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
}
},
"f0__s8__6__26-1": {
"value": "Other Assets and LiabilitiesOther assets essentially include items awaiting arrangement and items that cannot be traced to other items of the Statement of Finan-cial Position, including receivables deriving from the supply of non-\ue6d1nancial goods and services (net of depreciation funds), tax items other than those recognised under own item (for example connected with the activity of tax substitute), accrued income other than that capitalised on the related \ue6d1nancial assets, including that deriving from contracts with customers in accordance with IFRS 15, par-agraphs 116 et seq. and costs incurred to ful\ue6d1l contracts with customers as envisaged by paragraphs 91 et seq. of IFRS 15. The item also includes inventories related to POS and ATM (including spare parts) and plastics for cards managed by the Group. These inventories are valued respectively at weighted average cost and at FIFO. At the end of the year, impairment losses are eventually recognised if the Fair Value minus the selling costs is lower than the carrying amount.Other liabilities include liabilities that cannot be allocated to the other liability items in the statement of \ue6d1nancial position, including payables associated with the payment of non-\ue6d1nancial goods and services, accrued expenses other than those to be capitalised on the relevant \ue6d1nancial liabilities, and miscellaneous tax credit items other than those recognised under \u201cTax liabilities\u201d, for example related to the activity of a withholding agent.12. Other Assets Dec. 31, 2024 Dec. 31, 2023Tax receivables 67,640 78,232 Other assets for commissions to be collected 674,349 755,982 Deferred costs 255,468 240,431 Inventory 53,785 52,094 Unsettled transactions 950,835 1,003,321 Other receivables 38,830 21,084 Total 2,040,908 2,151,143 Accounts relative to e-money settlements are excluded from the calculation of the working capital, and are presented, instead, under \u201cUnsettled transactions\", above. The item \u201cOther assets for commissions to be collected\u201d refers to receivables net of the relevant risk provisions.The inventory mainly refers to ATMs, POSs and spare parts net of the relevant depreciation.The \"Deferred costs\" item includes deferred expenses relating to costs to fulfil contracts with customers and similar items for Euro 123.1 million and deferred expenses for costs paid but not yet accrued equal to about Euro 132.3 million.The item \u201cUnsettled transactions\u201d refers to transactions associated with different processing stages of the settlement of transactions generally completed in the first days of the following month.LIABILITIES",
"dimensions": {
"concept": "ifrs-full:DisclosureOfOtherAssetsExplanatory",
"language": "en",
"entity": "scheme:5493000P70CQRQG8SN85",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
}
},
"f0__s8__6__27": {
"value": "Current and Deferred TaxIncome taxes are calculated in accordance with national tax legislation, and are accounted for as a cost on an accruals basis, in line with the method of recognition in the \ue6d1nancial statements of the costs and revenues that they generated. Taxes are therefore determined on the basis of the forecast of the current, advance and deferred tax burden.Current tax assets and liabilities include the net balance of the Group companies\u2019 positions vis-\u00e0-vis Italian and foreign tax authorities attributable to direct taxation. More speci\ue6d1cally, these items include the net balance between past and current tax liabilities for the year, calculated on the basis of a prudent forecast of the tax liability for the year, determined in accordance with current tax regulations, and current tax assets represented by advance payments, withholding taxes incurred or other tax credits.Current tax expenses, determined on the basis of the \u201cnational tax consolidation\u201d, not yet paid as at the reporting date, in full or in part, is included amongst the tax liabilities on the Statement of Financial Position. If the payment of current tax expenses for the period or current tax expenses for the previous years has exceeded the related tax payable, the surplus is entered amongst the assets of the state-ment of \ue6d1nancial position, under \u201cTax assets - a) current\u201d.Current and deferred tax expenses are recognised in the Income Statement under \u201cIncome tax for the \ue6d1nancial year on current oper-ations\u201d, with the exception of those relating to cost or revenue components recorded in speci\ue6d1c valuation reserves (de\ue6d1ned bene\ue6d1t plans, \ue6d1nancial instruments measured at Fair Value through other comprehensive income and related hedging derivatives); these latter are instead allocated directly to the same valuation reserves, which, therefore, are stated net of the relevant tax.Deferred tax assets and liabilities are recognised as equity with open balances and without netting, stating the \ue6d1rst under \u201cTax assets\u201d and the second under \u201cTax liabilities\u201d.Deferred tax assets are computed in respect of the temporary di\ue7e8erences arising between the carrying amount assigned to an asset or a liability, and their corresponding assumed value for tax purposes. For these purposes, \u201ctaxable temporary di\ue7e8erences\u201d are those that will result in taxable amounts in future periods and \u201cdeductible temporary di\ue7e8erences\u201d are those that will result in deductible amounts in future periods. Deferred taxation is calculated by applying the tax rates set forth in the applicable law to taxable temporary di\ue7e8erences for which there is a probability that taxes will actually be incurred, and to deductible temporary di\ue7e8erences for which there is a reasona-ble certainty that there will be future taxable income at the time when the related tax deductibility will arise.Deferred tax liabilities are calculated on all taxable timing di\ue7e8erences.Deferred tax assets and liabilities are determined using the tax rates expected to be applied in the period in which the tax asset is realised or the tax liability will be extinguished, in accordance with current tax legislation. Tax assets and liabilities relating to the same tax and due in the same period are o\ue7e8set.Deferred tax assets and liabilities are systematically measured to re\ue6d2ect any alterations to tax rules or rates as well as any possible chang-es in the Group companies\u2019 subjective positions.",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForIncomeTaxExplanatory",
"language": "en",
"entity": "scheme:5493000P70CQRQG8SN85",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
}
},
"f0__s8__6__28-1": {
"value": "Financial Liabilities Measured at Amortised CostClassi\ue6d1cation CriteriaA \ue6d1nancial instrument issued is classi\ue6d1ed as a liability when, on the basis of the substance of the contractual agreement, a contractual obligation is held to deliver money or another \ue6d1nancial asset to a third party. More speci\ue6d1cally, the item mainly includes loans in place and facilities in place in support of the Group\u2019s electronic money business, as well as lease debts. Please note that the item also included the \u201cdebt\u201d component of the convertible bond loans issued.Recognition CriteriaPayables are recognised as at the date on which the contract is entered into, which normally coincides with the time when the amounts collected are received and debt instruments issued.Financial liabilities are initially measured at Fair Value, which normally coincides with the amount collected or issue price, plus the di-rectly related costs/income. Internal administrative costs are excluded. Lease liabilities are initially recognised at the current value of the payments due.Lease liabilities are recognised on the basis of the present value of future instalments still to be paid over the contractual term discount-ed at the implicit interest rate of the transaction, or if this cannot be determined, the marginal \ue6d1nancing rate.Measurement CriteriaAfter initial recognition, \ue6d1nancial liabilities are measured at amortised cost using the e\ue7e8ective interest method. Interest is recorded un-der the \u201cInterest and similar expense\u201d item of the Income Statement.Derecognition CriteriaFinancial liabilities, or part thereof, are derecognised when extinguished, i.e. when the obligation has been met, cancelled or expired.Financial Liabilities Measured at Fair Value through Pro\ue6d1t or LossAs at 31 December 2024 the item \u201cFinancial Liabilities Measured at Fair Value through Pro\ue6d1t or Loss\u201d includes the earn outs related to the business combination transactions executed, in addition to the fair value of outstanding options on shares of associates or subsidiaries. All the items included in this caption are valued at Fair Value with the allocation of the result of the measurement to the Income Statement.Fair Value is determined based on the criteria set out in the \u201cFair Value Disclosure\u201d section.",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForFinancialLiabilitiesExplanatory",
"language": "en",
"entity": "scheme:5493000P70CQRQG8SN85",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
}
},
"f0__s8__6__30": {
"value": "Share-Based PaymentsSta\ue7e8 share-based remuneration plans, all falling under the \u201cEquity settled\u201d category, are recognised in the Income Statement with a corresponding increase in shareholders\u2019 equity, on the basis of the Fair Value of the \ue6d1nancial instruments attributed at the assignment date, breaking up the expense throughout the plan period and according to when the work was actually done.If options are present, their Fair Value is determined using a valuation technique that takes into account the speci\ue6d1c terms and condi-tions of the stock option plan in place, in addition to information such as the exercise price and the life of the option, the current price of underlying shares, the expected volatility of the share price, dividends expected on the shares and the risk-free interest rate for the life of the option. The measurement model measures, separately, the option and the probability of ful\ue6d1lment of the conditions on which basis the options have been assigned. The combination of the two values is the Fair Value of the stock option.Any reduction in the number of \ue6d1nancial instruments assigned is recognised as the cancellation of a portion of such.Employee Bene\ue6d1tsEmployee bene\ue6d1ts are all types of remuneration disbursed by the company in exchange for the work of employees. Employee bene\ue6d1ts are divided up into:- short-term bene\ue6d1ts (other than bene\ue6d1ts due to employees for the termination of the contract of employment and remunerative bene\ue6d1ts in the form of a share in the capital), expected to be paid in full within twelve months of the end of the period during which the employees worked and recorded fully on the Income Statement at the time they are accrued (this category includes, for example, wages, salaries and \u201cextraordinary\u201d provisions);- post-employment bene\ue6d1ts due after the termination of the contract of employment that oblige the company to make a future pay-ment to employees, divided into:- de\ue6d1ned contribution plans that mainly comprise: supplementary pension funds involving a de\ue6d1ned amount of contributions by the company; the severance pay provision, limited to the portions accrued since 1 January 2007 for companies with more than 50 employ-ees, regardless of the allocation option chosen by the employee; the portions of severance pay accrued since 1 January 2007 and allo-cated to supplementary pension funds, in the case of companies with fewer than 50 employees; and supplementary health care funds;- de\ue6d1ned bene\ue6d1t plans or company pension funds, which mainly include: severance pay, limited to the portion accrued up to 31 De-cember 2006 for all companies, as well as the portions accrued from 1 January 2007 and not allocated to supplementary pension plans for companies with fewer than 50 employees; supplementary pension funds whose terms and conditions provide for the payment of a de\ue6d1ned bene\ue6d1t to members; and seniority bonuses, which provide for an extraordinary payment to employees upon reaching a certain level of seniority;- bene\ue6d1ts for the termination of the contract of employment, i.e. compensation that the company acknowledges to employees in exchange for the termination of the contract of employment following its decision to terminate the contract of employment ahead of the standard retirement date;- long-term bene\ue6d1ts other than the foregoing, which are not expected to be extinguished in full within twelve months after the end of the period in which the employees worked.With particular regard to post-employment bene\ue6d1ts, note that in de\ue6d1ned contribution plans the reporting company\u2019s obligation is determined on the basis of the contributions due for that year, and therefore the valuation of the obligation does not require the appli-cation of actuarial methods. On the contrary, the accounting of de\ue6d1ned bene\ue6d1t plans is characterised by the use of an actuarial method to determine the value of the obligation. Speci\ue6d1cally, these bene\ue6d1ts are recognised using the \u201cProjected Unit Credit\u201d method, which involves projecting future disbursements on the basis of historical statistical analyses and the demographic curve, and discounting these \ue6d2ows on the basis of a market interest rate.The components of de\ue6d1ned bene\ue6d1t cost are recognised as follows:- service cost and net interest on the net liability (asset) in the Income Statement;- revaluations of the net de\ue6d1ned bene\ue6d1t liability (asset) in the Statement of Comprehensive Income.Actuarial gains and losses are recognised in the Statement of Comprehensive Income, with an o\ue7e8setting entry to shareholders\u2019 equity (valuation reserve).For discounting purposes, the rate used is determined by reference to the market yield on bonds of leading companies, taking into account the average remaining life of the liability, weighted by the percentage of the amount paid and advanced for each maturity with respect to the total amount to be paid and advanced until the \ue6d1nal repayment of the entire obligation.Provisions for Risks and ChargesProvisions for risks and charges include all provisions made in relation to current obligations originating from past events for which an economic outlay is probable for the ful\ue6d1lment of such obligations, as long as a reliable estimate can be made of the relevant amount. Accordingly, a provision is recognised if and only if there is a present obligation (legal or constructive) as a result of a past event, it is probable that an out\ue6d2ow of resources embodying economic bene\ue6d1ts will be required to settle the obligation and a reliable estimate can be made of the amount of the obligation. The amount recognised as a provision represents the best estimate of the expenditure required to settle the obligation existing at the date of the \ue6d1nancial statements and re\ue6d2ects risks and uncertainties that inevitably char-acterise a number of facts and circumstances. When the e\ue7e8ect of the time value of money is material, the amount of the provision is discounted at current market rates. The provision is recognised on the income statement. At the close of all \ue6d1nancial statements the provisions made are periodically reviewed, and if the incurrence of possible expenses should become unlikely the provisions are entirely or partially released to the income statement.Foreign Currency TransactionsAt initial recognition, foreign currency transactions are registered into the money of account, applying the current exchange rate in force at the date of the transaction.At each annual or interim report closing date:- the monetary elements are converted at the exchange rate in force at the reporting date;- non-monetary items measured at historical cost are converted at the exchange rate as at the date of the transaction;- non-monetary items measured at Fair Value are translated using the exchange rate at the reporting date.Exchange di\ue7e8erences relative to monetary items are recognised in the Income Statement in the period they arise; those relating to non-monetary items are recognised in Shareholders\u2019 equity or in the Income Statement consistently with the method of entering prof-its and losses that include this component.The costs and revenues in foreign currencies are recognised at the exchange rate in force at the time of booking or, if being accrued, at the exchange rate in force at the reporting date.Other InformationIncome StatementInterest Income and ExpenseInterest income and expense is recognised on the Income Statement for all instruments measured in accordance with the amortised cost criterion, using the e\ue7e8ective interest method, including commissions and transaction costs.Other Fees for Services Rendered and Commission IncomeCommission income other than that included in the amortised cost and other fees for services provided are recognised when the obli-gation of the provision is satis\ue6d1ed, transferring the service to the customer or when all the following conditions are met:- the contract with the customer has been identi\ue6d1ed;- in order to identify a contract, the parties must have approved the contract (in writing or in compliance with other standard commer-cial practices) and must have undertaken to ful\ue6d1l their respective obligations;- the performance obligations contained in the contract have been identi\ue6d1ed;- the goods and services to be transferred must be identi\ue6d1ed;- the price has been determined;- the prices and payment methods must be de\ue6d1ned;- the price has been allocated to the individual performance obligations contained in the contract;- if a contract envisages the delivery/supply of multiple goods or services, the prices agreed must be allocated to the individual goods/services;- the performance obligations contained in the contract have been satis\ue6d1ed;- goods and services must be e\ue7e8ectively transferred to the customer.Additionally, in accordance with IFRS 15, the service is transferred to the customer and, therefore, revenues can be recognised:- at a speci\ue6d1c moment in time, when the entity ful\ue6d1ls the obligation to do, transferring the good or service promised to the customer, or- over time, gradually, as the entity ful\ue6d1ls the obligation to do, transferring the good or service promised to the customer.The asset is transferred when, or during the period in which, the customer acquires control over such. The variable components of the prices, mainly relating to year-end balances and variable incentives, are included in the price if they can be reliably determined and if any refund is considered to be a remote or unlikely event. Speci\ue6d1cally:- association fees are entered on the Income Statement according to the credit card validity date;- commission income from merchants and systems are entered on the Income Statement, according to the trading date of expenses incurred by the holders;- up-front revenues connected with the start of new customers and new products are recorded throughout the expected term of the contracts;- revenues for design activities speci\ue6d1cally requested by customers are recorded during development (overtime), if any of the following conditions apply:a. the customer simultaneously receives and uses the bene\ue6d1ts deriving from the provision, as it is made;b. the provision is provided on customer\u2019s assets;c. the asset produced has no alternative use and Nexi is entitled to be paid for the work done to date; if not, the costs and revenues of the project are suspended and recorded at the end of the design phase;- the revenues connected with recurring services (mainly maintenance and rental of POSs and ATMs and processing services) are split in a linear fashion throughout the contract term.It is also noted that, in application of IFRS 15, the value of the commission is recti\ue6d1ed in order to take the Fair Value of the premiums connected with the Loyalty program into account. The Fair Value of the premium catalogue is calculated as the average unitary value of the points with respect to the market value of the premiums, including VAT and delivery expenses. The unitary Fair Value is applied to the number of points in circulation, net of the points that, on the basis of the analysis performed, are expected not to be redeemed (on the basis of the redemption estimates). Deferred commission is recognised in the Income Statement according to point redemption.Commission considered in the amortised cost to calculate the e\ue7e8ective interest rate are excluded and recognised instead under interest income.Commission ExpenseCommission expense, other than that included in the amortised cost, is recognised when incurred or when the related revenues are recorded.Fees for Services ReceivedFee for services received are recognised when incurred or when the related revenues are recorded.Costs for the implementation of the contract with the customer (such as, for example, costs for the emission of cards and ICT services incurred during the start-up of new customers/products or non-substantial contractual changes) are recognised on a straight-line basis in connection with the useful life of the underlying contracts.DividendsDividends are recognised in the Income Statement when their distribution is resolved upon.Basis for Presentation of the Segment DisclosureThe segment disclosure of the Nexi Group is based on the elements that the management uses to make its operative decisions and is therefore consistent with the information requirements envisaged by IFRS 8.Speci\ue6d1cally, the identi\ue6d1cation of the operating segments is based on the way in which the reports that the \u201cchief operating decision maker\u201d (i.e. the highest operative decision-making level, as de\ue6d1ned by IFRS 8) receives and uses for the purpose of decision-making in regard to the resources to be allocated and the assessment of results.Business CombinationsBusiness combinations are accounted for using the \u201cpurchase method\u201d, which requires: (i) the identi\ue6d1cation of the acquirer; (ii) the determination of the combination costs; (iii) the \u201cPurchase Price Allocation\u201d.According to the IFRS 3, an acquirer is identi\ue6d1ed for all business combinations. The acquirer is the entity that obtains control over an-other entity, which is the power to determine the \ue6d1nancial and management policies of that entity in order to receive bene\ue6d1ts from its activities.The consideration transferred in a business combination is equal to the Fair Value, at the acquisition date, of the assets sold, the liabilities incurred and the equity instruments issued by the acquirer in exchange for obtaining control of the acquiree. The consideration that the acquirer transfers in exchange for the acquired entity includes any assets and liabilities resulting from an agreement on the \u201cpotential consideration\u201d, to be recognised on the acquisition date on the basis of Fair Value.Based on the purchase method, on the acquisition date, the acquirer must allocate the cost of the combination (so-called PPA, \u201cPur-chase Price Allocation\u201d) to the identi\ue6d1able assets acquired and the liabilities measured at the relative Fair Value on that date, also recog-nising the value of the minority interests of the acquired entity. For further information, please refer to section 39 of the Notes.Use of Estimates and Assumptions in Preparing the Consolidated Financial StatementsIn accordance with the IASs/IFRSs, the implementation of some accounting standards illustrated above for the several balance sheet aggregates can entail the adoption, by Corporate Management, of estimates and assumptions capable of signi\ue6d1cantly impacting the values recognised in the Statement of Financial Position and in the Income Statement.The drafting of such estimates implies the use of the information available and the adoption of subjective evaluations, also based on historical experience, used for the purpose of formulating reasonable assumptions for the reporting of management-related issues. In the presence of signi\ue6d1cant uncertainties and/or activities subject to measurement of particular materiality, the valuation is supported by external experts/appraisers, by fairness opinions and/or independent assessments.By nature, the estimations and assumptions used may vary from year to year and, therefore, it cannot be ruled out that in subsequent \ue6d1nancial periods the values posted to the \ue6d1nancial statements may also vary signi\ue6d1cantly as a result of changes in the subjective evalu-ations used. Speci\ue6d1cally, the measurement process is particularly complex, considering how uncertain the macroeconomic and market contexts are, hence it is not possible to rule out that the envisaged hypotheses, while being reasonable, may not be con\ue6d1rmed in the future scenarios in which the Group shall operate. The parameters and information used to check the aforesaid amounts are therefore considerably a\ue7e8ected by such factors, which may quickly change in a way that is not currently foreseeable, to the point that future bal-ance sheet amounts might be a\ue7e8ected.The main factors of uncertainty that could a\ue7e8ect the future scenarios the Group will operate in include macroeconomic impacts related to interest rate trends, in\ue6d2ation and market trends.In that respect, please also note that an estimate can be adjusted following changes to the circumstances on which it was based or new information or even additional experience. Any change to the estimate is applied prospectively and therefore impacts the Income Statement of the period in which the change is made and, potentially, those of future years.While stressing that the use of reasonable estimates is key when drafting \ue6d1nancial statements, without this factor being held to a\ue7e8ect their reliability, below are the items in which the use of estimates and assumptions is most signi\ue6d1cant, both in terms of the materiality of the values to be recognised in the balance sheet and impacted by such policies, and in terms of the complexity of the measurements, which entails the resorting to estimates and assumptions by Corporate Management:- valuation of the \ue6d1nancial assets and liabilities measured at Fair Value not listed on active markets;- Fair Value measurement of assets and liabilities within the Purchase Price Allocation processes carried out following the completion of business combinations as described in the speci\ue6d1c section;- measurement of the \ue6d1nancial assets measured at amortised cost and loan commitments;- stock valuation;- quanti\ue6d1cation of the useful life of intangible assets with a \ue6d1nite useful life and tangible assets;- estimate of the recoverable amount of goodwill for impairment testing purposes;- quanti\ue6d1cation of employee bene\ue6d1ts and share-based payments;- quanti\ue6d1cation of provisions made for risks and charges and payables for Loyalty programmes;- assessment of the recoverability of deferred taxation.For some of the cases listed above, the main factors can be identi\ue6d1ed that are subject to estimates by the Group and therefore contrib-ute to determining the value at which assets and liabilities are recognised in the \ue6d1nancial statements. Without claiming to be exhaustive, note that:- to determine the Fair Value of \ue6d1nancial instruments not listed on active markets, if it is necessary to use parameters that cannot be deduced from the market, the main estimates concern, on the one hand, the development of future cash \ue6d2ows (or even income \ue6d2ows, in the case of equities), possibly conditioned by future events, and on the other hand the level of certain input parameters not listed on active markets;- to determine the value of goodwill and other intangible assets with a \ue6d1nite useful life arising from business combinations, with regard to the Cash Generating Units (CGUs) of the Group, the future cash \ue6d2ows in the analytical forecast period and the \ue6d2ows used to deter-mine the so-called terminal value generated by the CGU are estimated separately and appropriately discounted, and in the case of assets with a \ue6d1nite useful life the estimated useful life. The cost of capital is also included in the estimated elements;- to quantify employee bene\ue6d1ts requiring actuarial valuation, the present value of the obligations is estimated taking into account the appropriately discounted \ue6d2ows resulting from historical statistical analyses, and the demographic curve;- when quantifying provisions for risks and charges, where possible an estimate is made of the amount of disbursements required to ful\ue6d1l obligations, taking into account the actual likelihood of having to use resources;- to determine deferred taxation items, the probability of actual future taxable income (taxable temporary di\ue7e8erences) and the degree of reasonable certainty \u2013 if any \u2013 of future taxable income at the time when tax deductibility will arise (deductible temporary di\ue7e8er-ences and tax loss carryforwards) are estimated.Events after the Reporting Period No events occurred after the date of the \ue6d1nancial statements that had an impact thereon pursuant to IAS 10. For further information, please refer to Management Report.Transfers of Financial Assets Between Portfolios No transfers of \ue6d1nancial assets between portfolios occurred.Fair Value Disclosure The international accounting standards IAS/IFRS prescribe the Fair Value measurement for \ue6d1nancial products classi\ue6d1ed as \u201cFinancial assets at Fair Value through OCI\u201d and \u201cFinancial assets at FVPL\u201d.Accounting standard IFRS 13 regulates the Fair Value measurement and related disclosure.More speci\ue6d1cally, the Fair Value is the price that would be received for the sale of an asset, or which would be paid for the transfer of a li-ability in a regular transaction between market operators (i.e. not in a compulsory liquidation or sale below cost) as at the valuation date.In determining the Fair Value of a \ue6d1nancial instrument, IFRS 13 establishes a hierarchy of criteria in terms of the reliability of the Fair Val-ue, according to the degree of discretion applied to businesses, giving precedence to the use of parameters that can be observed on the market, which re\ue6d2ect the assumptions that the market participants would use in the valuation (pricing) of the asset/liability. Three di\ue7e8erent levels of input are identi\ue6d1ed:- Level 1: inputs consisting of listed prices (unadjusted) on active markets for identical assets or liabilities that can be accessed at the measurement date;- Level 2: inputs other than the listed prices included on Level 1, which can be observed, directly (as in the case of prices) or indirectly (insofar as deriving from the prices) for assets or liabilities to be measured;- Level 3: inputs for assets or liabilities that are not based on observable market data.The measurement method de\ue6d1ned for a \ue6d1nancial instrument is adopted continuously over time and modi\ue6d1ed only following signi\ue6d1cant changes in market conditions or subjective conditions of the \ue6d1nancial instrument issuer.For \ue6d1nancial assets and liabilities recognised on the \ue6d1nancial statements at cost or amortised cost, the Fair Value given in the Notes is determined according to the following method:- for bonds issued: Fair Value obtained from active markets where the liability is traded;- for assets and liabilities at \ue6d1xed rates in the medium/long-term (other than securities issued): discounting of future cash \ue6d2ows at a rate obtained from the market and recti\ue6d1ed to include the credit risk;- for variable rate, on demand assets or those with short-term maturities: the carrying amount recognised net of the analytical and col-lective impairment is considered a good approximation of the Fair Value, insofar as it incorporates the change in rates and the change in the counterparty\u2019s credit risk;- for variable rate and short-term \ue6d1xed rate liabilities: the carrying amount is considered a good approximation of the Fair Value, for the reasons given above.Qualitative Disclosure Fair Value Levels 2 and 3: Measurement Techniques and Inputs UsedThe information requested by IFRS 13 concerning accounting portfolios measured at Fair Value on a recurring basis and not measured at Fair Value or measured at Fair Value on a non-recurring basis is reported below.Assets and Liabilities Measured at Fair Value on a Recurring BasisAt the date of the consolidated \ue6d1nancial statements, the following instruments valued at Fair Value were mainly in place:- Visa Preferred Class C Shares: these are measured according to the market value of Visa Inc Class A shares, listed on active markets where the portfolio shares (class C) will be converted, adjusting the value to re\ue6d2ect both the liquidity risk of class C shares and the potential adjustments to the conversion ratio, as communicated by Visa under the speci\ue6d1c section of the company\u2019s website, which varies depending on potential future liabilities to European merchants of Visa Europe, a company that has been incorporated into Visa Inc US.- Acorns shares in the portfolio, Fair Value was estimated using models generally used by market operators (Market multiples as main method and Discounted Cash Flow as control method) based partially on market-driven parameters.- Banca Popolare di Sondrio shares in portfolio, listed on active markets and valued according to market prices.- Contingent consideration: Fair Value is estimated as the present value of expected cash out\ue6d2ows, based on contractually agreed earn-out mechanisms, using the weighted average cost of capital (WACC) at the valuation date.- Derivatives on shares of unlisted companies: Fair Value is estimated using models generally used by market participants (Black & Scholes) and supplemented where possible with parameters derived from the market.- Hedging derivatives: outstanding derivatives consist of plain vanilla interest rate swaps, the fair value of which is estimated using val-uation models in line with market practice. Speci\ue6d1cally, since these derivatives are not listed on active markets and are not subject to Credit Support Annexes (CSA), the Fair Value is determined as the sum of the risk-free (mid-market) reference value and the Credit Value Adjustment (CVA), understood as the counterparty risk premium linked to the possibility that the counterparties to the contract may not honour their commitments. The CVA is calculated using valuation models that take into account the Loss Given Default (LGC) and Probability of Default (PD), which are determined on the basis of market information, where available.Assets and Liabilities Measured at Fair Value on a Non-Recurring BasisFinancial instruments not measured at Fair Value (FV), including loans and receivables with customers and banks are not managed on a Fair Value basis. For said assets, Fair Value is calculated solely for the purpose of complying with the request of disclosure to the market and has no impact on the \ue6d1nancial statements or on pro\ue6d1t and loss. Furthermore, since these assets are not generally traded, the deter-mining of Fair Value is based on the use of internal parameters not directly detectable on the market, as de\ue6d1ned under IFRS 13.- Cash and cash equivalents: given their short-term nature and their negligible credit risk, the carrying amount of cash and cash equiv-alents is practically equal to the Fair Value.- Financial assets measured at amortised cost: for variable rate, on demand assets or those with short-term maturities, the carrying amount recognised net of the analytical and collective impairment is considered a good approximation of the Fair Value, insofar as it incorporates the change in rates and the change in the counterparty\u2019s credit risk.- Investment property: the Fair Value of Investment property is determined on the basis of a measurement made by independent experts holding duly acknowledged and pertinent professional expertise, who conduct their measurement mainly on the basis of an indirect knowledge of assets through the information made available by the holders with reference to property location, consistency, venue use, and in view of market analyses.- Financial liabilities measured at amortised cost: the carrying amount is considered to approximately be equivalent to Fair Value for variable and \ue6d1xed rate, short term liabilities. As for debt instruments issued, Fair Value is calculated based on active markets where liabilities have been traded.Measurement Process and SensitivityFor a discussion of the valuation techniques, inputs and processes used by the Group for instruments classi\ue6d1ed in level 3 of the fair value hierarchy, see the considerations set out above.Exposures in level 3 \ue6d1nancial instruments mainly consist of shares in unlisted companies and equity derivatives.For these instruments, a sensitivity analysis was conducted with respect to the main valuation parameters as follows. The above analysis shows how much the fair value of the instrument would vary in percentage terms if the valuation parameter indicated in the table were to change.CALL OPTION SOLD ON SHARES OF NEXI PAYMENTS GREECEDiscount Rate/Volatility 2% Base -2%1% 189% 21% -61%Base 146% 0% -69%-1% 109% -18% -76%PUT AND CALL OPTIONS TO PURCHASE SHARES OF COMPUTOP GMBHDiscount Rate/Volatility 2% Base -2%1% 6.8% 6.7% 35.0%Base -0.1% 0% 0.1%-1% -7.0 % -6.9% -6.7%ACORNS SHARESA sensitivity analysis was performed considering a change in the illiquidity discount on the EV/Sales multiple as reported here.% Impact on Fair Value-0,5% 7%Base 0% +5%-7%Fair Value HierarchyTransfers between Fair Value levels derive from the empirical observation of intrinsic phenomena of the instrument taken into ac-count or the markets on which it is traded.Changes from Level 1 to Level 2 are brought about by a lack of an adequate number of contributors or the limited number of investors holding the float in issue.Conversely, securities that at issue are not very liquid but have high numbers of contracts - thereby classified as Level 2 - are trans-ferred to Level 1 when the existence is seen of an active market.There have been no transfers between categories of financial assets and liabilities between Level 1, Level 2 or Level 3.Quantitative DisclosureFair Value HierarchyASSETS AND LIABILITIES MEASURED AT FAIR VALUE ON A RECURRING BASIS: BREAKDOWN BY FAIR VALUE LEVELS Dec.31, 2024 Dec.31, 2023 Level 1 Level 2 Level 3 Level 1 Level 2 Level 3 Financial assets measured at Fair Value through profit or loss - 3,108 14,582 - 3,388 6,260 Financial assets at Fair Value through OCI 36,906 55,312 10,000 30,460 79,080 10,000 Hedging derivatives - - - - 1,571 - Total 36,906 58,420 24,582 30,460 84,040 16,260 Financial liabilities at Fair Value through profit or loss - 240,076 1,416 - 245,624 689 Hedging derivatives - 23,167 - - 24,419 - Total - 263,243 1,416 - 270,043 689 The item \u201cFinancial assets measured at Fair Value through profit or loss\u201d mainly includes the Fair Value of outstanding derivatives on shares of companies measured at Equity (approximately Euro 14 million) and the Fair Value of equity instruments (Euro 3 million) meas-ured at Fair Value through profit or loss.The item \u201cFinancial assets at fair value through OCI\u201d consists of capital assets not held for trading, which the company, at initial recogni-tion, has irrevocably chosen to classify and measure at FVTOCI.The item \u201cFinancial liabilities at Fair Value through profit or loss\u201d mainly comprises liabilities associated with contingent consideration recognised in connection with acquisitions for which earn out mechanisms are envisaged and the options related to the shares held in subsidiaries.There have been no transfers between categories of financial assets and liabilities between Level 1, Level 2 or Level 3.Annual Changes of Assets and Liabilities Measured at Fair Value on a Recurring Basis (Level 3)In 2024 there were no changes in the composition of assets and liabilities measured at Level 3 Fair Value.ASSETS AND LIABILITIES NOT MEASURED AT FAIR VALUE OR MEASURED AT FAIR VALUE ON A NON-RECURRING BASIS: BREAKDOWN BY FAIR VALUE LEVELS Dec. 31, 2024 Dec. 31, 2023 Level 1 Level 2 Level 3 Carrying Level 1 Level 2 Level 3 Carrying amountamount Loans and receivables with banks - 2,729,690 - 2,729,690 - 2,225,657 - 2,225,657 Loans and receivables with customers - 2,500,574 6,859 2,507,432 - 3,462,857 20,070 3,482,928 Investment property - 1,330 - 1,130 - 1,360 - 1,204 Total - 5,231,594 6,859 5,238,253 - 5,689,874 20,070 5,709,789 Payables to banks - 4,541,899 - 4,541,899 - 4,130,544 - 4,130,544 Payables due to financial entities and customers - 2,279,906 - 2,279,906 - 2,919,348 - 2,919,348 Securities issued - 3,277,865 - 3,383,233 - 3,841,097 - 4,045,744 Total - 10,099,670 - 10,205,038 - 10,890,989 - 11,095,636 Information on \u201cDay One Profit or Loss\u201d Not reported to the extent that for Nexi Group no transactions are recorded that are ascribable to this item.2. Statement of Financial Position(Amounts in thousand euros)ASSETS3. Cash and Cash Equivalents Dec. 31, 2024 Dec. 31, 2023a) Cash 47 46b) Deposits and current accounts 74,628 800,128 Total 74,675 800,172 The item \u201cDeposits and current accounts\u201d refers to the liquid funds in the current accounts of Nexi SpA, and is included in the Net Financial Position presented in the Management Report. The decrease is mainly related to the share buyback plan, intra-group transac-tions mainly related to the repayment of the Nassa Bond, as well as the effects of costs incurred by the parent company, and dividends received from subsidiaries.4. Financial Assets Measured at Fair Value4.1 BREAKDOWN OF FINANCIAL ASSETS MEASURED AT FAIR VALUE Dec. 31, 2024 Dec. 31, 2023Financial assets measured at Fair Value through profit or loss 17,690 9,648 Financial assets measured at Fair Value through OCI 102,217 119,540 Total 119,907 129,189 4.2 BREAKDOWN OF FINANCIAL ASSETS MEASURED AT FAIR VALUE THROUGH PROFIT OR LOSSThis item, totalling Euro 18 million, is mainly composed of:- \u201cFinancial assets measured at Fair Value through profit or loss\u201d for Euro 3 million, related to investments in equity instruments that do not confer any influence on the investee company.- \u201cOther financial assets mandatorily measured at Fair Value\u201d for Euro 14 million that refer to the Fair Value as of the reporting date of derivatives related to the purchase of the third tranche of the shares in Computop GmbH, a company over which the Group exercises joint control at the reporting date. Note that the strike price for the settlement of this derivative was estimated at Euro 58 million.4.3 BREAKDOWN BY PRODUCT OF FINANCIAL ASSETS AT FAIR VALUE THROUGH OCI Dec. 31, 2024 Dec. 31, 2023Debt instruments - - Equity instruments 102,217 119,540 Financing - - Total 102,217 119,540 The item \"Financial assets measured at fair value with impact on overall profitability\" refers to shares held by Group companies, over which Nexi does not exercise control, joint control or significant influence. It should be noted in particular that the item also includes Visa Series C shares, convertible into Class A ordinary Visa shares at a variable conversion factor depending on the expenses arising from the contingent liabilities of ex-Visa Europe.5. Financial Assets Measured at Amortised Cost5.1 LOANS AND RECEIVABLES WITH BANKS: BREAKDOWN BY PRODUCTDec. 31, 2024 Dec. 31, 2023Carrying amount Fair Value Carrying amount Fair ValueStages 1 & 2 Stage 3 Level 1 Level 2 Level 3 Stages 1 & 2 Stage 3 Level 1 Level 2 Level 3Loans and receivables with banksDeposits and current 2,635,989 - - 2,635,989 - 1,876,717 - - 1,876,717 - accountsPrepaid cards liquidity 44,802 - - 44,802 - 46,153 - - 46,153 - Restricted deposits 44,573 - - 44,573 - 231,978 - - 231,978 - Other assets 4,325 - - 4,325 - 70,809 - - 70,809 - Total 2,729,690 - - 2,729,690 - 2,225,657 - - 2,225,657 - The current account balance includes the daily settlement balance of transactions processed by the Group on behalf of Intesa Sanpaolo and the liquidity at the level of the operating entities only.The liquidity of the prepaid cards relates to the activity carried out on them as an electronic money institution (IMEL). Such liquidity is considered separate from operational liquidity to the extent that it is deposited in a restricted current account, transactions on which are limited to covering uses of prepaid cards by cardholders.The item \u201cTime deposits\u201d includes the escrow accounts related to deposits pledged as collateral for deferred payments made to mer-chants as part of the acquiring business and the \u201cBuy now pay later\u201d business, as well as deposits pledged as collateral for Nexi Payments\u2019 factoring operations on ordinary card balances.The total of the item includes Euro 1,330 million of liquidity in the operating companies\u2019 bank accounts, which has been included in the Group\u2019s Net Financial Position at 31 December 2024 in the Management Report.5.2 LOANS AND RECEIVABLES WITH FINANCIAL ENTITIES OR CUSTOMERS: BREAKDOWN BY PRODUCTDec. 31, 2024 Dec. 31, 2023Carrying amount Fair Value Carrying amount Fair ValueStages Stage 3 Stages Stage 3 1 & 21 & 2Purchased Other Level 1 Level 2 Level 3 Purchased Other Level 1 Level 2 Level 3Ordinary credit cards 466,995 - - - 466,995 - 145,828 - - - 145,828 - Receivables from 1,408,303 - - - 1,408,303 - 2,592,928 - - - 2,592,928 - schemesRevolving credit cards 314,628 - 546 - 314,628 546 305,053 - 523 - 305,053 523 Receivables from 93,535 - 3,903 - 93,535 3,903 92,679 - 17,558 - 92,679 17,558 \"Buy Now Pay Later\" solutionReceivables from 149,896 - - - 149,896 - 142,134 - 2 - 142,134 2 merchantsOther assets 67,215 - 2,410 - 67,215 2,410 184,234 - 1,988 - 184,234 1,988 Total 2,500,573 - 6,859 - 2,500,574 6,859 3,462,857 - 20,070 - 3,462,857 20,070 The \u201cOrdinary credit cards\u201d item refers to charge cards and is the balance at the end of each month of the amount cumulatively spent up to that date by the cardholders during the last operative month. Via the partner banks this amount is generally debited to the current accounts of holders on the 15th day of the following month. The group adopts a model according to which the receivables deriving from ordinary credit cards are the object of factoring operations that envisage the daily sale of receivables. The balance at 31 December 2024, included Euro 41.7 million worth of receivables sold on a with recourse basis and which therefore have not been derecognised.As at 31 December 2024 the assigned derecognised receivables amounted to Euro 2,040.4 million. Positions in respect of international schemes refer to the daily settlement balances on the Visa-Mastercard schemes and include the deposit paid by the Group\u2019s operating companies to its customer merchants on transactions that are yet to be settled. All such positions are settled within a few days (generally 1 to 3 days). Moreover, these period-end balances are influenced by the number of non-working days running across the end of each period, days on which settlement systems are closed, determining a greater build-up of transac-tions and a consequent drawdown of funding facilities. The item \u201cRevolving credit cards\u201d mainly includes receivables guaranteed by partner banks. The item \u201cBuy now pay later receivables\u201d refers to receivables arising from the \u201cBuy Now Pay Later\u201d solution provided through the Nets Group. The item \u201cReceivables from merchants\u201d refers to trade receivables from merchants for commissions to be collected. As the latter two items are not related to asset settlement accounts, they are included for the purpose of calculating the effects of working capital.\u201cOther assets\u201d mainly include the amount due from the factoring company of Nexi Payments SpA of Euro 64.6 million connected with the balance to be settled daily with the counterparty.5.3 LOANS AND RECEIVABLES WITH CUSTOMERS: GROSS AND NET VALUES AND WRITE-OFFS OF PERFORMING AND NON-PERFORMING LOANSDec. 31, 2024 Dec. 31, 2023Gross value Fund Net value Gross value Fund Net valuePerforming loans - Stage 1 2,502,985 (2,987) 2,499,998 3,467,708 (4,851) 3,462,857- Stage 2 654 (78) 575 - - - Non-performing loans - Stage 3 65,574 (58,715) 6,859 61,743 (41,673) 20,070Total 2,569,213 (61,781) 2,507,432 3,529,451 (46,523) 3,482,9286. Hedging DerivativesDuring 2022 Nexi SpA entered into cash flow hedging transactions related to certain outstanding variable-rate financing. These trans-actions fall under the type of cash flow hedges envisaged by IFRS 9.At the reporting date the derivatives stipulated had the following values:Fair Value Dec. 31, 2024 Fair Value Dec. 31, 2023Carrying Fair Value Carrying Fair ValueamountamountLevel 1 Level 2 Level 3 Level 1 Level 2 Level 3 Derivatives with positive Fair Value Fair Value hedge Cash flow hedge - - 1,571 1,571 Total - - - - 1,571 - 1,571 - Derivatives with negative Fair Value Fair Value hedge Cash flow hedge 23,167 23,167 24,419 24,419 Total 23,167 - 23,167 - 24,419 - 24,419 - The negative Fair Value of hedging derivative, amount of Euro 23 million, has been included in the Net Financial Position. The total no-tional amount of outstanding hedging derivatives, represented by plain vanilla interest rate swaps, is Euro 900 million.7. Equity Investments7.1 EQUITY INVESTMENTS: BREAKDOWNThe balance of this item consists of the following Equity Investments:Carrying Carrying Direct Nameamount amount ownershipDec. 31, 2024Dec. 31, 2023A. Companies subject to joint control e-Boks A/S, Denmark Nets Denmark A/S 18,828 20,648 Computop Paygate GmbH Nexi Germany Holding GmbH 43,750 44,249 B. Companies subject to significant influence QRTAG Sp. z.o.o. Centrum Rozliczen Elektronicznych 1,315 1,292 Polskie ePlatnosci S.A.Digital Commerce Finland Oy Paytrail Oyj 50 50 Nexi Digital Nexi SpA 1,728 1,385 Rs-Record Store into liquidation Nexi Payments SpA - - WEAT Electronic Datenservice GmbH, Germany Nexi Germany GmbH 4,484 4,336 Total 70,154 71,960 7.2 CHANGE IN EQUITY INVESTMENTS CARRIED IN EQUITYEffect of Carrying Carrying of which Acquisitions measurement Other Nameamount Dividendsamount implicit 2024at equity changesDec. 31, 2023Dec. 31, 2024Goodwillmethode-Boks A/S, Denmark 20,599 - 1,550 - (3,319) 18,830 9,398 Computop Paygate GmbH 44,249 - (499) - - 43,750 40,043 Other equity investments 7,113 - 2,354 (1,863) (29) 7,574 62 Total 71,960 - 3,406 (1,863) (3,349) 70,154 7.3 EQUITY INVESTMENTS: ACCOUNTING INFORMATIONResult for the Company name % held Currency RevenuesEquityyeare-Boks A/S, Denmark 50% DKK 186,808 13,535 159,633 Computop Paygate GmbH 30% Euro 20,270 (2,965) 15,506 QRTAG Sp. z.o.o. 45% PLN 966 (522) 3,183 Digital Commerce Finland Oy 17% Euro 177 (89) 211 Nexi Digital 49% Euro 31,278 2,778 2,831 Rs-Record Store S.p.A. in liquidazione 30% Euro 303 160 403 WEAT Electronic Datenservice GmbH, Germany 40% Euro 19,066 2,867 12,428 The figures in the table above refer to the latest approved financial statements and include the results of any equity investments held by the entities indicated above.8. Tangible Assets8.1 TANGIBLE ASSETS: BREAKDOWN OF ASSETS BY DESTINATION Dec. 31, 2024 Dec. 31, 2023Property and equipment 509,228 547,849 Investment property 1,130 1,204 Total 510,359 549,053 8.2 PROPERTY AND EQUIPMENT: BREAKDOWNE Dec. 31, 2024 Dec. 31, 2023Owned a) Land 41,055 42,175 b) Buildings 56,016 65,866c) POS and ATM 172,859 159,449d) Machinery and electronic equipment/systems 109,583 114,951 e) Furniture and furnishings 5,230 7,405 f) Other 3,124 13,098 Rights of use from leasing contractsa) Land - -b) Buildings 86,023 98,731 c) POS and ATM 3,946 11,751 d) Machinery and electronic equipment/systems 17,404 21,932 e) Furniture and furnishings - - f) Other 13,989 12,491 Total 509,228 547,849 With regard to item \u201cOwned\u201d, note the following:- The value of real estate includes the effect of the write-back to Fair Value of the assets acquired in 2015 with the establishment of the Mercury Group, as a result of the completion of the price allocation process (PPA).- The item \u201cPOS and ATM\u201d refers to assets acquired by the Group and covered by contracts with customers.- The item \u201cMachinery and electronic systems\u201d mainly includes hardware used by the Group\u2019s operating companies. The amount en-tered is net of depreciation up until the reporting date.The \u201cRights of use from lease contracts\u201d item refers to assets recognised following the application of IFRS 16.The tangible assets in progress as at 31 December amounted to Euro 48 million, consisting mainly of POSs being installed on mer-chants\u2019 premises.At the reporting date there are no restrictions as to the usage of such rights of use. Note that for some categories of assets and/or agreements the Nexi Group exercised the right to exclude contracts with a duration of less than 12 months and/or contract value worth less than Euro 5,000 (low value contracts) from IFRS 16.Note that there are no commitments already entered into in connection with the purchase of tangible fixed assets.8.3 PROPERTY AND EQUIPMENT: CHANGESMachinery POS andFurniture and electronic Dec. 31, 2024 Land Buildings ATM and Other Total equipment/furnishings systems A. Opening balance - Gross 46,328 309,418 553,750 503,840 21,912 57,521 1,492,769 A.1 Depreciation Fund (4,153) (144,820) (382,550) (366,957) (14,507) (31,932) (944,920)A.2 Net Opening balance 42,175 164,598 171,200 136,883 7,405 25,589 547,849 B. Increases - 18,362 80,526 48,146 158 9,668 156,860 B.1 Purchases - 380 75,235 27,396 153 585 103,749 B.2 Capitalised improvement costs - - - - - - -B.3 Reversals of impairment losses - - - - - - -B.4 Positive Fair Value adjustments - - - - - - -B.5 Business combination - - - - 6 - 6 B.6 Transfers from investment property - - - - - - -B.7 Other increases - 17,981 4,541 16,518 - 7,633 46,673 of which of Rights of use - 16,953 -45 4,991 - 7,493 29,392 B.8 Currency translation adjustment - - 750 4,233 - 1,450 6,433 C. Decreases 1,120 40,920 74,921 58,043 2,333 18,144 195,481 C.1 Sales - 23 387 2,552 - 42 3,004 C.2 Depreciation - 30,475 71,305 53,601 1,638 8,103 165,123 of which of Rights of use - 23,979 5,113 9,532 - 7,230 45,853 C.3 Impairment losses 1,120 1,569 - 1,081 758 - 88 2,455 C.4 Negative Fair Value adjustments - - - - - - -C.5 Business combination - - - - - - -C.6 Transfers - 2,500 - - - - 2,500 a) investment property - - - - - -b) non-current assets held for sale and - 2,500 - - - - 2,500 discontinued operationsC.7 Other decreases - 5,731 3,173 1,131 695 9,911 20,640 C.8 Currency translation adjustment - 622 1,137 - - - 1,759 D. Closing balance - Gross 45,208 316,910 627,259 524,672 21,302 56,959 1,592,311 D.1 Depreciation Fund (4,153) (174,871) (450,455) (397,686) (16,073) (39,846) (1,083,084)D.2 Net Closing balance 41,055 142,038 176,804 126,987 5,230 17,114 509,228 8.4 INVESTMENT PROPERTY: BREAKDOWN OF ASSETS MEASURED AT COSTDec. 31, 2024 Dec. 31, 2023Carrying Fair Value Carrying Fair ValueamountamountLevel 1 Level 2 Level 3 Level 1 Level 2 Level 31. Owned a) land 180 - - - 180 - - - b) buildings 950 - - - 1,024 - - - 2. Rights of use acquired through leasing a) land - - - - - - - - b) buildings - - - - - - - - Total 1,130 - 1,330 - 1,204 - 1,360 - As calculated at 31 December 2023, this item includes the property located in Monteriggioni (SI) (Via delle Frigge) owned by Nexi Pay-ments SpA, the carrying amount of which decreased due to depreciation in the year. As at the date of reference, there are no:- restrictions or limits to the sale of property or collection of rental charges;- obligations or contractual commitments, construction, development, repair or extraordinary maintenance of these properties.9. Intangible Assets9.1 INTANGIBLE ASSETS: BREAKDOWN BY TYPE OF ASSETDec. 31, 2024 Dec. 31, 2023Finite useful life Indefinite Finite useful life Indefinite useful lifeuseful lifeA.1 Goodwill 11,983,463 11,999,223 A.2 Intangible assets - Customer contracts 2,907,335 3,241,122 A.3 Other intangible assets 1,277,744 1,343,709 - internally generated assets 774,606 723,081 - externally purchased assets 495,771 610,624 - leased intangible assets 7,367 10,005 Total 4,185,079 11,983,463 4,584,831 11,999,223 Goodwill, mainly resulting from the acquisitions of the Nets Group, the SIA Group and the acquiring books by the Group\u2019s operating companies, increased in 2024 mainly due to the recognition of goodwill arising from the acquisition of the Sparkasse acquiring book (Euro 26 million includeed In the Cash Generating Units Merchant Solution), partially offset by the negative exchange rate effects on previous goodwill (Euro 42 million). As in the financial statements for the year ended 31 December 2023, the following three Cash Generating Units were identified:- Merchant Solutions;- Issuing Solutions;- Digital Banking Solutions.These CGUs correspond to the operating segments described in Section 42.With regard to the method of allocation of goodwill to the various CGUs identified, see Section 9.3 \u201cIntangible Assets: Impairment Testing\u201d below.The other intangible assets consist of:- purchases of software and technological developments: the item also includes the effects of software revaluations performed as part of the Purchase Price Allocation Processes concluded in the previous years. Note that ongoing projects not yet completed amount to Euro 355 million;- intangible assets with a finite useful life resulting from the Purchase Price Allocation processes described above are mainly composed of customer contracts and customer relationships resulting from the Purchase Price Allocation processes completed in previous years, amounting to Euro 2,908 million.Note that commitments already undertaken in connection with the purchase of intangible assets amount to Euro 11 million.9.2 INTANGIBLE ASSETS: CHANGESOther intangible assets: otherCustomer Dec. 31, 2024 Goodwill internally externally leased TotalContractsgenerated purchased intangible assetsassetsassetsA. Net opening balance 11,999,223 3,241,122 723,081 610,624 10,005 16,584,055B. Increases 25,911 7,182 291,945 51,353 - 376,392B.1 Purchases - - 291,945 51,279 - 343,224B.2 Reversals of impairment losses - - - - - -B.3 Positive Fair Value adjustments - - - - - -B.4 Business combination 25,911 7,182 - - - 33,093B.5 Other increases - - - 74 - 74of which of Rights of use - - - - - -B.6 Currency translation adjustment - - - - - -C. Decreases 41,671 340,969 240,421 166,206 2,638 791,905C.1 Sales - - - 14 - 14C.2 Amortisation - 335,177 236,964 166,128 3,182 741,450of which of Rights of use - - - - 3,182 3,182C.3 Impairment losses - - 2,043 108 - 2,151C.4 Business combination - - - - - -C.5 Negative Fair Value adjustments - - - - - -C.6 Transfers to non-current assets held for sale - - - - - -and discontinued operationsC.7 Other decreases - - 976 - - 976C.8 Currency translation adjustment 41,671 5,793 438 (44) (544) 47,314D. Net closing balance 11,983,463 2,907,335 774,606 495,771 7,367 16,168,5429.3 INTANGIBLE ASSETS: IMPAIRMENT TESTINGAs required by international accounting standard IAS 36.12, the Nexi Group verified the presence of any impairment indicators with re-spect to goodwill and intangible assets with a finite useful life deriving from business combinations. With regard to intangible assets with a finite useful life, no indicators of impairment emerged. Conversely, with regard to goodwill, it was necessary to perform an impairment test because the market capitalisation of Nexi S.p.A. as at 31 December 2024 was lower than the Group's book equity. The goodwill is allocated to the following Cash Generating Units.(Amounts in million euros)Name of CGU Goodwill(*) Carrying Amount(**)Merchant Solutions 8,399 10,497 Issuing Solutions 3,413 4,424 Digital Banking Solutions 342 872 Total 12,154 15,794 (*) Goodwill expressed at 100%, including minority interests.(**) Net invested capital including goodwill As required by IAS 36, the recoverable amount of the CGUs coincides with the greater of:- Value in Use.- Fair Value less costs of disposal;The impairment test is passed if one of the two configurations (value in use or Fair Value) is higher than the carrying amount of the CGUs goodwill is allocated to.For the purposes of this impairment test, the value in use of the CGUs defined above was estimated. Indeed, the determination of the recoverable amount was based on the discounted cash flow method in its unlevered version (Discounted Cash Flow Method or \u201cDCF\u201d). Such method is based on the general concept that the value of a company is equivalent to the discounted amount of:- the cash flows it will generate within the specific forecast horizon;- residual value, i.e. the value of the income that the business is expected to generate beyond the explicit forecast period.Cash flows are discounted using the weighted average capital cost (WACC) which is the weighted average of the cost of equity and the cost of debt, after taxation. The cost of capital was estimated using a fundamental approach and then compared with the median cost of capital used by analysts (consensus). The cost of capital estimated based on fundamentals was substantially in line with the consensus median. The formula for estimating WACC is the following:EDWACC = Ke *+ Kd * (1 - t) *D + ED + Ewhere:- Ke = cost of equity;- E/(D+E) = equity as a percentage of total enterprise value (equity + net financial debt);- Kd = cost of debt capital before taxes;- t = tax rate (\u201ctax shield\u201d);- D/(D+E) = percentage of debt to total enterprise value.The cost of equity represents the expected return on investments in shares of companies in the same sector as Nexi and is calculated using the Capital Asset Pricing Model, the formula of which is as follows:Ke = Rf + \u03b2 * (Rm \u2013 Rf)where:- Rf = risk-free rate, equal to the average yield to maturity of 10-year government bonds for the last month weighted on average with respect to the countries the Group operates in for each CGU identified;- Beta = beta coefficient expressing systematic risk. This parameter was estimated based on an analysis of the betas of comparable companies;- Rm - Rf = equity risk premium, namely the additional return requested by a risk averse investor compared with the return of risk-free assets; it is equivalent to the difference between the average return of the stock market and the risk-free rate. The risk premium con-sidered is 5.95%, applicable to European companies (source: Berec BoR (24) 102).The debt cost must be considered net of the tax rate \u201ct\u201d, in order to take into account the tax shield on interest costs. This parameter was estimated based on an analysis of bond yields of comparable companies, consistent with the target financial structure assumed in the WACC calculation.For the purpose of estimating the long-term growth rate (g rate), the long-term inflation rate of the countries in which the CGUs oper-ate estimated by IMF (World Economic Outlook) as at October 2024 was used.The WACC and g rate used for the purpose of the impairment test are as follows:- CGU Merchant Solutions: wacc = 9.55% and g =2.02%.- CGU Issuing Solutions: wacc = 9.54% and g = 2.02%.- CGU Digital Banking Solutions: wacc = 9.58% and g = 1.91%.The estimate of the recoverable amount is obtained starting from the estimates of the expected results of the 2025 Budget and the 2026-2029 Projections approved by the parent company's board of directors. The Nexi Group\u2019s plan takes into account the effects of the conflict between Russia and Ukraine, relying on macroeconomic parameters of expected consumption and nominal growth provided by external sources to develop the projections.With regard to the effects of climate change, the company has already implemented projects to simplify its operating platforms and related computing centres, which include data centres and IT infrastructure. These projects not only provide economic synergies, but also reduce the company\u2019s consumption through the use of renewable energy sources and energy efficiency solutions. In fact, the Nexi Group has taken on the \u201cNet Zero by 2040\u201d challenge endorsed by the Science Based Targets initiative (SBTi), setting climate targets as early as 2030 in order to ensure compliance with the emission reduction targets of the Paris Agreement climate objectives.The recoverable value was higher than the carrying amount for all CGUs indicated above.Since the recoverable value (value in use) is determined through estimates and assumptions that may feature elements of uncertainty, sensitivity analyses were conducted \u2013 as provided for by IAS/IFRS standards \u2013 for verifying the sensitivity of the results obtained upon variation of some basic parameters and hypotheses. Specifically, it was deemed appropriate to identify changes in key parameters (also extended to the terminal value) sufficient to make the recoverable amount equal to the value of the invested capital (breakeven case).Decrease of growth Shift parallel Name of CGU WACC Increaserate (g)to decrease in EBITDAMerchant Solutions 0.51% (0.69%) (5.27%)Issuing Solutions 0.48% (0.65%) (5.14%)Digital Banking Solutions 1.83% (2.66%) (12.34%)10. Tax Assets and Liabilities10.1 CURRENT TAX ASSETS AND LIABILITIESAs of 31 December 2024, the Financial Statements show Euro 16 million (in line with the balance as at 31 December 2023) related to cur-rent tax assets and Euro 64 million (Euro 38 million as of 31 December 2023) related to current tax liabilities.Current tax assets mainly consist of receivables for taxes paid abroad.Current tax liabilities include payables for the balance of the domestic tax consolidation as well as payables for Irap and taxes owed by foreign subsidiaries.Note that, in addition to the parent company Nexi SpA, the current national tax consolidation scheme involves the subsidiaries Mercury Payment Services SpA, Nexi Payments SpA, Help Line SpA, Service Hub SpA, SIApay Srl and Numera Sistemi e Informatica SpA.10.2 DEFERRED TAX ASSETS: BREAKDOWN Dec. 31, 2024 Dec. 31, 2023Deferred taxes assets - of which: recognised in equity 8,944 2,256 - of which: recognised in profit and loss 241,936 230,828 Total 250,880 233,085 Deferred tax assets amounted to Euro 251 million (233 million in December 2023) and were composed as follows:- tax recognised in Shareholders\u2019 Equity mainly arising from deferred tax assets relating to severance pay;- taxes recognised with a balancing entry in the Income Statement, mainly relating to deferred tax assets arising from the redemption of goodwill recognised in the financial statements of Nexi Payments and Nexi SpA. The item also includes deferred tax assets relating to adjustments to receivables, provisions for risks and charges, as well as the residual tax asset arising from the spin-off of certain equity investments from DEPObank SpA to Nexi, and deferred tax assets on tax losses.As at 31 December 2024 the Group had unused tax losses of Euro 312 million, of which Euro 11 million can be carried forward over 3 years and the balance in more than 3 years or without temporal limits.With regard to these tax losses, according to available estimates, deferred tax assets of Euro 52 million were recognised. The assessment of the recoverability of tax loss assets is based on the positive taxable income expected within the next three to five years.Unrecognised tax assets, for which there is no evidence of short-term use, were not recognised and amounted to Euro 18 million, cor-responding to tax losses of approximately Euro 82 million.10.2.1 Changes in Deferred Tax Assets (Recognised in Equity)Dec. 31, 2024 Dec. 31, 20231. Opening balance 2,256 2,267 2. Increases 6,847 158 2.1 Deferred tax assets recognised in the year 6,847 158 2.2 Business combination - - 2.3 Other increases - - 2.4 Currency translation adjustment - - 3. Decreases 159 169 3.1 Deferred tax assets derecognised in the year 159 169 3.2 Business combination - - 3.3 Other decreases - - 3.4 Currency translation adjustment - - 4. Closing balance 8,944 2,256 10.2.2 Changes in Deferred Tax Assets (Recognised in Profit and Loss)Dec. 31, 2024 Dec. 31, 20231. Opening balance 230,828 193,654 2. Increases 45,934 86,6112.1 Deferred tax assets recognised in the year 30,040 74,2382.2 Business combination - -2.3 Other increases 12,760 10,2472.4 Currency translation adjustment 3,135 2,1263. Decreases 34,826 49,4373.1 Deferred tax assets derecognised in the year 33,065 43,0003.2 Business combination 1,378 1,8753.3 Other decreases 167 3,7023.4 Currency translation adjustment 217 8604. Closing balance 241,936 230,828 10.3 DEFERRED TAX LIABILITIES: BREAKDOWN Dec. 31, 2024 Dec. 31, 2023Deferred tax liabilities - of which: recognised in equity 3,700 4,277 - of which: recognised in profit and loss 918,346 1,047,904 Total 922,045 1,052,181 Deferred tax liabilities amounted to Euro 922 million (Euro 1,052 million as at December 2023) and consisted mainly of deferred taxes recognised as a result of the Purchase Price Allocations, specifically of Nets and SIA completed in previous years.Specifically:- tax recognised in Shareholders\u2019 equity mainly arising from deferred tax relative to the Fair Value measurement of the Visa Shares in portfolio;- tax recognised in the Income Statement arising from temporary differences in goodwill and deferred taxes identified in the Purchase Price Allocation of the business combination transactions carried out by the Group.10.3.1 Changes in Deferred Tax Liabilities (Recognised in Equity) Dec. 31, 2024 Dec. 31, 20221. Opening balance 4,277 4,216 2. Increases 3,005 2,974 2.1 Deferred tax liabilities recognised in the year 3,005 2,974 2.2 Business combination - - 2.3 Other increases - - 2.4 Currency translation adjustment - - 3. Decreases 3,582 2,9133.1 Deferred tax liabilities derecognised in the year 3,582 2,9133.2 Business combination - - 3.3 Other decreases - -3.4 Currency translation adjustment - -4. Closing balance 3,700 4,277 10.3.2 Changes in Deferred Tax Liabilities (Recognised in the Profit and Loss) Dec. 31, 2024 Dec. 31, 20231. Opening balance 1,047,904 1,151,391 2. Increases 38,128 62,186 2.1 Deferred tax liabilities recognised in the year 9,223 33,210 2.2 Business combination 2,375 - 2.3 Other increases 26,529 23,684 2.4 Currency translation adjustment - 5,292 3. Decreases 167,686 165,673 3.1 Deferred tax liabilities derecognised in the year 153,456 158,687 3.2 Business combination - - 3.3 Other decreases 11,631 - 3.4 Currency translation adjustment 2,599 6,986 4. Closing balance 918,346 1,047,904 11. Non-Current Assets Held for Sale and Discontinued Operations and Liabilities Associated with Assets Held for Sale and Discontinued Operations Dec. 31, 2024 Dec. 31, 2023A. Assets held for sale A.1 Financial assets 397 362 A.2 Tangible assets 4,122 1,954 A.3 Intangible assets 176 67,838 A.4 Other assets 1,613 34,985 Total (A) 6,307 105,139 B. Liabilities associated with assets held for saleB.1 Financial liabilities 118 189 B.2 Other liabilities 753 14,585 Total (B) 871 14,774 As mentioned in the 2023 financial statements, in November 2023 Nexi signed an agreement with IN Groupe to sell the Digital Banking business in the Nordics region, referred to as the eID business. Consequently, from 31 December 2023 these assets were classified as \u201cnon-current assets held for sale\u201d. The closing took place on 31 October 2024 and consequently the related assets and liabilities were derecognised. Consequently, the item mainly includes real estate owned by Group companies in the course of disposal.12. Other Assets Dec. 31, 2024 Dec. 31, 2023Tax receivables 67,640 78,232 Other assets for commissions to be collected 674,349 755,982 Deferred costs 255,468 240,431 Inventory 53,785 52,094 Unsettled transactions 950,835 1,003,321 Other receivables 38,830 21,084 Total 2,040,908 2,151,143 Accounts relative to e-money settlements are excluded from the calculation of the working capital, and are presented, instead, under \u201cUnsettled transactions\", above. The item \u201cOther assets for commissions to be collected\u201d refers to receivables net of the relevant risk provisions.The inventory mainly refers to ATMs, POSs and spare parts net of the relevant depreciation.The \"Deferred costs\" item includes deferred expenses relating to costs to fulfil contracts with customers and similar items for Euro 123.1 million and deferred expenses for costs paid but not yet accrued equal to about Euro 132.3 million.The item \u201cUnsettled transactions\u201d refers to transactions associated with different processing stages of the settlement of transactions generally completed in the first days of the following month.LIABILITIES13. Financial Liabilities Measured at Amortised Cost13.1 FINANCIAL LIABILITIES DUE TO BANKS (BREAKDOWN BY PRODUCT)Dec. 31, 2024 Dec. 31, 2023Carrying Fair Value Carrying Fair ValueamountamountLevel 1 Level 2 Level 3 Level 1 Level 2 Level 3 1. Financing 4,405,314 - 4,405,314 - 3,958,052 - 3,958,052 - 2. Other liabilities 136,586 - 136,586 - 172,492 - 172,492 - 3. Lease liabilities - - - - - - - - Total 4,541,899 - 4,541,899 - 4,130,544 - 4,130,544 - The item \u201cFinancing\u201d mainly includes the Group\u2019s funding, composed as follows:- the IPO Term Line for Euro 1,013 million. The carrying amount as at the reporting date included direct residual transactions costs, not yet amortised, for Euro 4 million;- the Term Loan for Euro 371 million. The carrying amount as at the reporting date included direct residual transaction costs, not yet amortised, for Euro 0.6 million;- the BBPM Credit Line for Euro 140 million, net of the repayment of Euro 60 million during 2024. The carrying amount as at the reporting date included direct residual transaction costs, not yet amortised, for Euro 0.3 million;- the 2022 Term Loan for Euro 897 million. The carrying amount as at the reporting date included direct residual transaction costs, not yet amortised, of Euro 3.3 million; - the BPER loan agreement amounting to Euro 50 million;- the payable to Alpha Bank in the amount of Euro 122 million for the deferred payment of the purchase of Nexi Payments Greece;- Rate Pay funding to support the operation of pay-later services in the amount of Euro 73 million.Moreover, the item includes credit lines used by the Group for settlements.The item \u201cOther liabilities\u201d mainly refers to payables for fees and other retrocessions to partner banks.The item total includes Euro 2,666 million in bank financing included in the Net Financial Position discussed in the Management Report.13.2 FINANCIAL LIABILITIES DUE TO FINANCIAL ENTITIES AND CUSTOMERS: BREAKDOWN BY PRODUCT Dec. 31, 2024 Dec. 31, 2023Carrying Fair Value Carrying Fair ValueamountamountLevel 1 Level 2 Level 3 Level 1 Level 2 Level 3 1. Financing 149,811 - 149,811 - 189,775 - 189,775 - 2. Other liabilities 1,999,885 - 1,999,885 - 2,566,050 - 2,566,050 - 3. Lease liabilities 130,209 - 130,209 - 163,523 - 163,523 - Total 2,279,906 - 2,279,906 - 2,919,348 - 2,919,348 - The item \u201cFinancing\u201d mainly refers for Euro 109.3 million to payables to the factoring company for advances on ordinary credit cards sold with recourse. The item also includes payables to merchants related to the Buy now pay later product (which are included for the purpose of calculating the effects of working capital) in the amount of Euro 4 million (net of the escrow accounts) (Euro 22 million as at December 2023).The item \u201cOther liabilities\u201d mainly includes settlement payables of the acquiring business arising from the activities of the foreign oper-ating companies, as well as balances related to prepaid cards.The amount of Euro 136 million, consisting mainly of Lease Liabilities, is included in the Net Financial Position.13.3 SECURITIES ISSUED: BREAKDOWN BY PRODUCTDec. 31, 2024 Dec. 31, 2023Carrying Fair Value Carrying Fair Valueamountamount Level 1 Level 2 Level 3 Level 1 Level 2 Level 3 1. Fixed rate securities 3,383,233 - 3,277,865 - 4,045,744 - 3,841,097 - 2. Floating rate securities - - - - - - - - Total 3,383,233 - 3,277,865 - 4,045,744 - 3,841,097 - Note: with reference to the convertible bonds, the Fair Value above refers to financial liability for the issue as a whole.As more fully explained in the Directors\u2019 Report, the item refers to:- the 2026 Bonds in the amount of Euro 926 million, including direct transaction costs not yet amortised in the amount of Euro 2.8 million;- the 2029 Bonds in the amount of Euro 1,047 million, including direct transaction costs not yet amortised in the amount of Euro 6.5 million;- the 2027 Convertible Loan, in the amount of Euro 479 million, including direct transaction costs not yet amortised in the amount of Euro 2.2 million attributed to the \u201cPayable\u201d component;- the 2028 Convertible Loan, in the amount of Euro 931 million, including direct transaction costs not yet amortised in the amount of Euro 5.7 million attributed to the \u201cPayable\u201d component.Note that the Nassa Topco Bond Loan and the 2024 Bond Loan recorded in the 2023 financial statements were repaid in the respective amounts of Euro 219 million and Euro 477 million during 2024.This item is entirely included in the Net Financial Position shown in the Management Report.14. Financial Liabilities at Fair Value through Profit or Loss14.1 FINANCIAL LIABILITIES AT FVTPL: BREAKDOWNDec. 31, 2024 Dec. 31, 2023Carrying Fair Value Carrying Fair ValueamountamountLevel 1 Level 2 Level 3 Level 1 Level 2 Level 3 Financial liabilities measured at Fair Value - - - - 1,033 - 1,033 - Other financial liabilities mandatorily measured 241,492 - 240,076 1,416 245,280 - 244,591 689 at Fair Value Total 241,492 - 240,076 1,416 246,313 - 245,624 689 This item as at 31 December 2024 refers for Euro 240 million (Euro 243 million as at 31 December 2024) to the contingent considerations contractually envisaged with respect to business combination transactions, the change of which mainly reflects the accounting updates made during the period.The item also includes the Fair Value of the call option granted to Alpha Bank with respect to the sale of up to 39% of Nexi Payments Greece at a maximum strike of Euro 214 million and the derivative related to the purchase of the second tranche of Computop, at a strike of Euro 31.5 million, expired in January 2025This item is included in the Net Financial Position shown in the Management Report.15. Other Liabilities Dec. 31, 2024 Dec. 31, 2023 Tax liabilities and social security debts 55,698 88,994 Payables due to employees 216,297 155,695 Other liabilities for fees and commissions 745,837 714,796 Unsettled transactions 727,114 1,342,629 Deferred loyalty fees and other revenues 133,711 69,818 Other debts 9,236 1,201 Total 1,887,892 2,373,133 Accounts relative to e-money settlements are excluded from the calculation of the working capital, and are presented, instead, under \u201cUnsettled transactions\", above. In this regard, note that for the purpose of calculating Net Working Capital adjustments were made for non-recurring transactions, including the disposal of the Nets Dan id business unit, totalling Euro 3 million.Note that the item \u201cPayables to employees\u201d includes Euro 83 million related to redundancy incentives (Euro 5 million as at 31 De-cember 2023).The item \u201cOther liabilities for fees and commissions\u201d includes payables to suppliers and other counterparties for commercial services received.The item \u201cDeferred loyalty fees and other revenues\u201d mainly includes liabilities associated with Loyalty programmes in place, worth Euro 39.8 million, aside from the liabilities deriving from customer contracts, worth Euro 93.9 million, mainly associated with revenues invoiced in advance and one-off revenues for projects concerning the goodwill of new clients or new products.The item \u201cUnsettled transactions\u201d refers to transaction associated with different processing stages of the settlement of transactions in the first days of the following month.16. Defined Benefit Plans for Personnel Dec. 31, 2024 Dec. 31, 2023Defined benefit plan 29,696 32,000 Contribution plan - - Total 29,696 32,000 The item includes defined benefit plans in place at the Group\u2019s operating companies based on local legislation or supplementary agreements16.1 DEFINED BENEFIT PLANS FOR PERSONNEL: CHANGES Dec. 31, 2024 Dec. 31, 2023A. Opening balance 32,000 30,996 B. Increases 8,928 3,504 B.1 Accruals for the year 1,047 1,632 B.2 Other changes 7,880 1,872- Business combinations 58 21 - Other increases 7,82 2 1,852 C. Decreases 11,231 2,500 C.1 Payments 9,559 1,591 C.2 Other changes 1,672 910 - Business combinations - - - Other decreases 1,673 910 D. Closing balance 29,696 32,000 16.2 MAIN DEMOGRAPHIC AND ACTUARIAL ASSUMPTIONS USED TO MEASURE POST-EMPLOYMENTS BENEFITS: SENSITIVITY ANALYSISAssumptions Sensitivity (*) Dec. 31, 2024 Dec. 31, 2023 (0.50%) 0.50%- Discount rate da 3.18% a 3.21% da 3.08% a 3.59% 0.04 - 0.04 - Inflation rate da 2.00% al 3.00% da 2.00% al 2.20% n.d. n.d. - Turnover rate da 1.01% a 3.00% da 1.01% a 2.83% - 0.00 0.00 17. Provisions for Risks and Charges17.1 PROVISIONS FOR RISKS AND CHARGES: BREAKDOWN Dec. 31, 2024 Dec. 31, 2023 1. Internal pension funds - - 2. Other provisions for risks and charges 164,202 176,409 2.1 Legal and tax disputes 105,476 107,438 2.2 Employees expenses 1,514 1,716 2.3 Other provisions 57,212 67,255 Total 164,202 176,409 The item \u201cLegal and tax disputes\u201d of Euro 105 million (Euro 107 million as at 31 December 2023) refers mainly to the provisions made for litigation and pre-litigation, including estimated legal fees, for which the risk is considered probable.The item \u201cOther provisions\u201d of Euro 57 million (Euro 67 million as at 31 December 2023) mainly refer to:a. Provision to cover contractual commitments undertaken at the time of the acquisition of the equity investment in Bassilichi amount-ing to approximately Euro 2.5 million, reduced compared to last year following a revision of the relative estimate;b. Provision to cover the cost of divesting the Bassilichi Group\u2019s non-core equity investments, amounting to Euro 1 million in line with the previous year;c. Provision to cover risks mainly related to pending disputes and other disputes related to ordinary operations amounting to approxi-mately Euro 15 million. The decrease versus the previous year (Euro 19 million) is related to uses in the period net of provisions made during the period;d. Provision for fraudulent transactions, mainly in issuing, of Euro 2.7 million, an increase compared to the previous year (Euro 1 million);e. Provision to cover charge back and other risks related to the acquiring business in the amount of approximately Euro 21 million, in line with the balance as at 31 December 2023;f. Provisions to cover risks recorded as an adjustment to the opening balances related to the merger with Nets and SIA equal to Euro 10 million, in line with the previous year;g. Provisions related to onerous contracts and contractual penalties that were substantially reduced to zero in H1 2024 (Euro 3 million as at 31 December 2023) as a result of uses in the period.17.2 PROVISIONS FOR RISKS AND CHARGES: CHANGESOther provisions Internal for risks and TotalPension fundschargesA. Opening balance - 176,409 176,409 B. Increases - 7,739 7,739 C. Business combination - (1) (1) D. Decreases for utilisation - (11,544) (11,544)E. Decreases for releases - (8,401) (8,401)F. Time value adjustment - - -G. Closing balance - 164,202 164,202 18. Shareholders\u2019 EquityThe Group equity, including the result for the year of Euro 167 million, amounted to Euro 10,957 million as at 31 December 2024, com-pared to Euro 11,297 million at the end of the previous year. The following table shows the breakdown of assets and changes from the previous year. GROUP EQUITY: BREAKDOWN Dec. 31, 2024 Dec. 31, 2023 Share capital 118,719 118,647Treasury shares (5,005) (7,013)Share premium - 11,587,260Reserves 10,841,124 713,900Valuation reserves (188,403) (132,390)Profit (Loss) for the year 167,361 (1,005,989)Equity attributable to non-controlling interests (+/-) 23,152 22,731Total Shareholders\u2019 Equity 10,956,948 11,297,146 The shares of Nexi SpA are listed in Italy (FTSE index). The Group provides itself with the necessary capital to finance its business devel-opment and operational needs; its sources of financing are a balanced mix of risk capital, contributed on a permanent basis by share-holders, and debt capital, to ensure a balanced financial structure and the minimisation of the overall cost of capital, thus benefiting all stakeholders. The debt capital is structured in different maturities to ensure adequate diversification of funding sources and efficient access to external sources of finance.The remuneration of risk capital is proposed by the Board of Directors to the Shareholders\u2019 Meeting that is convened to approve the annual financial statements, based on market trends and business performance, once all other obligations, including debt service, have been met. Therefore, in order to ensure an adequate return on capital and safeguard business continuity and development, the Group constantly monitors the evolution of the debt and the marginality of operating activities.The \u201cEquity attributable to non-controlling entities\u201d item of Euro 23 million mainly refers to minority stakes in Nexi Payments SpA (Euro 14 million), Help Line SpA (Euro 2 million) and Nexi Payments Greece (Euro 7 million).The share capital as at 31 December 2024 consisted of 1,230,192,275 ordinary shares (1,312,359,527 as at 31 December 2023), all fully paid-up and without nominal value. During the period:- 798,161 new shares were issued to service the LTI plan;- 82,947,413 treasury shares in the portfolio were cancelled.The reduction of the Share premium is related to its allocation to the legal reserve to service the buyback programme resolved during the half-year.The treasury shares in portfolio amounted to 833,058. Specifically, during the period:- 83,417,413 treasury shares were purchased as part of the buyback plan, for a market value of approximately Euro 499 million;- 82,947,413 treasury shares were cancelled for a market value of approximately Euro 499 million;- 1,170,273 treasury shares were used to service the LTI plan, for a market value of Euro 8 million;- there was an increase of 789,161 treasury shares as a result of the free capital increase indicated above, for a value equal to Euro 5 million.The item \u201cReserves\u201d increased mainly due to the effect of the aforementioned allocation of the share premium to reserves and the recognition of the effects of share-based plans (about Euro 18 million), as well as the effect of the coverage of the loss of the previous period.The change in the item \u201cValuation reserves\u201d is related primarily to the increase in the Valuation reserve related to Visa shares in portfolio, the further positive effect of the Cash Flow Hedge Reserve, partially offset by the decrease in the Conversion Reserve.The table below details reconciliation between Shareholders\u2019 equity and profits of Parent Company Nexi SpA and their corresponding value in the consolidated financial statements for Nexi Group.(Amounts in thousand euros) Shareholders\u2019 Profit/(Loss) equity for the yearBalance of accounts for Parent Company at December 31, 2024 11,370,683 (105,811)Effect of consolidation of subsidiaries (262,488) 851,464Effect of measurement at equity method (9,128) 1Other adjustments including comprehensive income (165,271) -Dividends collected in the year - (578,293)Balance of consolidated accounts at December 31, 2024 10,933,796 167,36119. INCOME STATEMENT(Amounts in thousand euros)20. Fees for Services Rendered and Commission Income 2024 2023Issuing & Acquiring fees: 4,372,185 3,933,074- fees and commissions from counterparties 4,136,918 3,138,430- fees and commissions from cardholders 235,267 794,644Revenues from services 1,825,421 1,880,486Total 6,197,606 5,813,560The item \u201cIssuing & acquiring fees\u201d item mainly consists of:- the item \u201cFees and commissions from counterparties\u201d, which includes the interchange fees recognised by the schemes, the acquiring commissions paid by merchants and the commissions for processing issuing/acquiring and servicing paid by partner banks;- the item \u201cFees and commissions from cardholders\u201d, which includes commissions debited to licensed cardholders, mainly relating to charges.The item \u201cRevenues from services\u201d mainly consists of POS and ATM rental and maintenance charges, of revenue from Digital & Corpo-rate Banking services, and revenue from activities linked to Payment Services and revenues connected with Help Desk services. Revenues from active lease contracts amount to approximately Euro 360 million.The revenue recognised, in accordance with IFRS 15 \u201cAt a point of Time\u201d mainly refers to revenue commensurate with transacted vol-umes, which at 31 December 2024 amounted to approximately Euro 4,892 million.21. Fees for Services Received and Commission Expense 2024 2023Bank charges: (2,435,097) (2,254,176)- fees due to correspondents (2,108,438) (1,912,118)- fees due to banks (326,659) (342,058)Other fees (66,681) (91,148)Total (2,501,778) (2,345,323)This item mainly comprises:- the item \u201cFees due to correspondents\u201d, mostly consisting of interchange fees and other charges debited by the schemes;- the item \u201cFees due to banks\u201d, mainly consisting of fees paid to partner banks and commissions retroceded within the framework of the master and distribution agreements in place with regard to acquiring books acquired in recent years.22. Interest and Similar Income 2024 2023Interest income related to Financial assets measured at amortised cost: 142,302 103,490 Interest income related to Financial assets measured at FVTPL: 716 1,945 Differentials related to Hedging derivatives 5,573 1,044 Interest income related to Other assets 340 2,571 Other financial income 5,507 16,263 Total 154,438 125,31323. Interest and Similar Expense 2024 2023Interest expenses related to Financial liabilities measured at amortised cost: (366,634) (329,434)- lease contracts (5,312) (6,632)- due to banks and customers (273,884) (234,689)- securities issued (87,438) (88,114)Interest expenses related to Financial liabilities at Fair Value through profit or loss: (22,245) (24,235)Differentials related to Hedging derivatives - -Interest expenses related to Other liabilities/provisions (17) (0)Other financial charges (26,277) (29,427)Total (415,173) (383,097)Interest expense mainly refers to:- recourse credit facilities attached to the factoring agreement entered in 2018 by Nexi Payments SpA, included in the item \u201cFinancial liabilities measured at amortised cost\u201d;- securities issued as described in the Directors\u2019 Report and section 38;- outstanding financing as described in the Directors\u2019 Report and section 14.1.24. Gains/Losses on Hedging Activities/Financial Assets and Liabilities Measured at Fair Value with Impact on Profit or Loss/Reversal of Assets and Liabilities at Amortised Cost 2024 2023Net result of financial assets measured at FVTPL 9,437 6,260 Net result of financial liabilities measured at FVTPL 12,602 42,382Net hedging income - (426)Net result on derecognition of asset and liabilites at Amortised cost - - Total 22,039 48,216 The item mainly includes the effect of the valuation of earn-outs and outstanding equity investment derivatives. 25. Dividends and Profit (Loss) from Investments and Sale of Assets at Fair Value through Other Comprehensive Income 2024 2023Dividends 2,938 516 Profit/(loss) from disposal of financial assets at FVTOCI (84,854) (86,641)Net income (81,916) (86,124)The balance of the item mainly refers to the charge deriving from the non-recourse sale by Nexi Payments SpA \u2013 as part of the factoring contract \u2013 of a significant part of the credit portfolio deriving from the exposure of credit cards. It also includes dividends distributed by the Group\u2019s investee companies, other than subsidiaries and associates, which are classified as \u201cFinancial assets at Fair Value through OCI\u201d.26. Administrative Expenses26.1 PERSONNEL-RELATED COSTS: BREAKDOWN 2024 20231) Employees a) wages and salaries (557,619) (553,310)b) social security charges and similar cost (128,132) (133,125)c) post-employment benefits (36,039) (35,619)- defined contribution plans (17,509) (12,910)- defined benefit plans (18,530) (22,709)d) costs of share-based payment plans (18,090) (19,642)",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForSharebasedPaymentTransactionsExplanatory",
"language": "en",
"entity": "scheme:5493000P70CQRQG8SN85",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
}
},
"f0__s8__6__32": {
"value": "Provisions for Risks and ChargesProvisions for risks and charges include all provisions made in relation to current obligations originating from past events for which an economic outlay is probable for the ful\ue6d1lment of such obligations, as long as a reliable estimate can be made of the relevant amount. Accordingly, a provision is recognised if and only if there is a present obligation (legal or constructive) as a result of a past event, it is probable that an out\ue6d2ow of resources embodying economic bene\ue6d1ts will be required to settle the obligation and a reliable estimate can be made of the amount of the obligation. The amount recognised as a provision represents the best estimate of the expenditure required to settle the obligation existing at the date of the \ue6d1nancial statements and re\ue6d2ects risks and uncertainties that inevitably char-acterise a number of facts and circumstances. When the e\ue7e8ect of the time value of money is material, the amount of the provision is discounted at current market rates. The provision is recognised on the income statement. At the close of all \ue6d1nancial statements the provisions made are periodically reviewed, and if the incurrence of possible expenses should become unlikely the provisions are entirely or partially released to the income statement.",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForProvisionsExplanatory",
"language": "en",
"entity": "scheme:5493000P70CQRQG8SN85",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
}
},
"f0__s8__6__33": {
"value": "Foreign Currency TransactionsAt initial recognition, foreign currency transactions are registered into the money of account, applying the current exchange rate in force at the date of the transaction.At each annual or interim report closing date:- the monetary elements are converted at the exchange rate in force at the reporting date;- non-monetary items measured at historical cost are converted at the exchange rate as at the date of the transaction;- non-monetary items measured at Fair Value are translated using the exchange rate at the reporting date.Exchange di\ue7e8erences relative to monetary items are recognised in the Income Statement in the period they arise; those relating to non-monetary items are recognised in Shareholders\u2019 equity or in the Income Statement consistently with the method of entering prof-its and losses that include this component.The costs and revenues in foreign currencies are recognised at the exchange rate in force at the time of booking or, if being accrued, at the exchange rate in force at the reporting date.",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForForeignCurrencyTranslationExplanatory",
"language": "en",
"entity": "scheme:5493000P70CQRQG8SN85",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
}
},
"f0__s8__6__38": {
"value": "Other InformationIncome StatementInterest Income and ExpenseInterest income and expense is recognised on the Income Statement for all instruments measured in accordance with the amortised cost criterion, using the e\ue7e8ective interest method, including commissions and transaction costs.Other Fees for Services Rendered and Commission IncomeCommission income other than that included in the amortised cost and other fees for services provided are recognised when the obli-gation of the provision is satis\ue6d1ed, transferring the service to the customer or when all the following conditions are met:- the contract with the customer has been identi\ue6d1ed;- in order to identify a contract, the parties must have approved the contract (in writing or in compliance with other standard commer-cial practices) and must have undertaken to ful\ue6d1l their respective obligations;- the performance obligations contained in the contract have been identi\ue6d1ed;- the goods and services to be transferred must be identi\ue6d1ed;- the price has been determined;- the prices and payment methods must be de\ue6d1ned;- the price has been allocated to the individual performance obligations contained in the contract;- if a contract envisages the delivery/supply of multiple goods or services, the prices agreed must be allocated to the individual goods/services;- the performance obligations contained in the contract have been satis\ue6d1ed;- goods and services must be e\ue7e8ectively transferred to the customer.Additionally, in accordance with IFRS 15, the service is transferred to the customer and, therefore, revenues can be recognised:- at a speci\ue6d1c moment in time, when the entity ful\ue6d1ls the obligation to do, transferring the good or service promised to the customer, or- over time, gradually, as the entity ful\ue6d1ls the obligation to do, transferring the good or service promised to the customer.The asset is transferred when, or during the period in which, the customer acquires control over such. The variable components of the prices, mainly relating to year-end balances and variable incentives, are included in the price if they can be reliably determined and if any refund is considered to be a remote or unlikely event. Speci\ue6d1cally:- association fees are entered on the Income Statement according to the credit card validity date;- commission income from merchants and systems are entered on the Income Statement, according to the trading date of expenses incurred by the holders;- up-front revenues connected with the start of new customers and new products are recorded throughout the expected term of the contracts;- revenues for design activities speci\ue6d1cally requested by customers are recorded during development (overtime), if any of the following conditions apply:a. the customer simultaneously receives and uses the bene\ue6d1ts deriving from the provision, as it is made;b. the provision is provided on customer\u2019s assets;c. the asset produced has no alternative use and Nexi is entitled to be paid for the work done to date; if not, the costs and revenues of the project are suspended and recorded at the end of the design phase;- the revenues connected with recurring services (mainly maintenance and rental of POSs and ATMs and processing services) are split in a linear fashion throughout the contract term.It is also noted that, in application of IFRS 15, the value of the commission is recti\ue6d1ed in order to take the Fair Value of the premiums connected with the Loyalty program into account. The Fair Value of the premium catalogue is calculated as the average unitary value of the points with respect to the market value of the premiums, including VAT and delivery expenses. The unitary Fair Value is applied to the number of points in circulation, net of the points that, on the basis of the analysis performed, are expected not to be redeemed (on the basis of the redemption estimates). Deferred commission is recognised in the Income Statement according to point redemption.Commission considered in the amortised cost to calculate the e\ue7e8ective interest rate are excluded and recognised instead under interest income.Commission ExpenseCommission expense, other than that included in the amortised cost, is recognised when incurred or when the related revenues are recorded.Fees for Services ReceivedFee for services received are recognised when incurred or when the related revenues are recorded.Costs for the implementation of the contract with the customer (such as, for example, costs for the emission of cards and ICT services incurred during the start-up of new customers/products or non-substantial contractual changes) are recognised on a straight-line basis in connection with the useful life of the underlying contracts.DividendsDividends are recognised in the Income Statement when their distribution is resolved upon.Basis for Presentation of the Segment DisclosureThe segment disclosure of the Nexi Group is based on the elements that the management uses to make its operative decisions and is therefore consistent with the information requirements envisaged by IFRS 8.Speci\ue6d1cally, the identi\ue6d1cation of the operating segments is based on the way in which the reports that the \u201cchief operating decision maker\u201d (i.e. the highest operative decision-making level, as de\ue6d1ned by IFRS 8) receives and uses for the purpose of decision-making in regard to the resources to be allocated and the assessment of results.Business CombinationsBusiness combinations are accounted for using the \u201cpurchase method\u201d, which requires: (i) the identi\ue6d1cation of the acquirer; (ii) the determination of the combination costs; (iii) the \u201cPurchase Price Allocation\u201d.According to the IFRS 3, an acquirer is identi\ue6d1ed for all business combinations. The acquirer is the entity that obtains control over an-other entity, which is the power to determine the \ue6d1nancial and management policies of that entity in order to receive bene\ue6d1ts from its activities.The consideration transferred in a business combination is equal to the Fair Value, at the acquisition date, of the assets sold, the liabilities incurred and the equity instruments issued by the acquirer in exchange for obtaining control of the acquiree. The consideration that the acquirer transfers in exchange for the acquired entity includes any assets and liabilities resulting from an agreement on the \u201cpotential consideration\u201d, to be recognised on the acquisition date on the basis of Fair Value.Based on the purchase method, on the acquisition date, the acquirer must allocate the cost of the combination (so-called PPA, \u201cPur-chase Price Allocation\u201d) to the identi\ue6d1able assets acquired and the liabilities measured at the relative Fair Value on that date, also recog-nising the value of the minority interests of the acquired entity. For further information, please refer to section 39 of the Notes.",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForBusinessCombinationsExplanatory",
"language": "en",
"entity": "scheme:5493000P70CQRQG8SN85",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
}
},
"f0__s8__6__34": {
"value": "Other InformationIncome StatementInterest Income and ExpenseInterest income and expense is recognised on the Income Statement for all instruments measured in accordance with the amortised cost criterion, using the e\ue7e8ective interest method, including commissions and transaction costs.",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForInterestIncomeAndExpenseExplanatory",
"language": "en",
"entity": "scheme:5493000P70CQRQG8SN85",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
}
},
"f0__s8__6__35": {
"value": "Commission income other than that included in the amortised cost and other fees for services provided are recognised when the obli-gation of the provision is satis\ue6d1ed, transferring the service to the customer or when all the following conditions are met:- the contract with the customer has been identi\ue6d1ed;- in order to identify a contract, the parties must have approved the contract (in writing or in compliance with other standard commer-cial practices) and must have undertaken to ful\ue6d1l their respective obligations;- the performance obligations contained in the contract have been identi\ue6d1ed;- the goods and services to be transferred must be identi\ue6d1ed;- the price has been determined;- the prices and payment methods must be de\ue6d1ned;- the price has been allocated to the individual performance obligations contained in the contract;- if a contract envisages the delivery/supply of multiple goods or services, the prices agreed must be allocated to the individual goods/services;- the performance obligations contained in the contract have been satis\ue6d1ed;- goods and services must be e\ue7e8ectively transferred to the customer.Additionally, in accordance with IFRS 15, the service is transferred to the customer and, therefore, revenues can be recognised:- at a speci\ue6d1c moment in time, when the entity ful\ue6d1ls the obligation to do, transferring the good or service promised to the customer, or- over time, gradually, as the entity ful\ue6d1ls the obligation to do, transferring the good or service promised to the customer.The asset is transferred when, or during the period in which, the customer acquires control over such. The variable components of the prices, mainly relating to year-end balances and variable incentives, are included in the price if they can be reliably determined and if any refund is considered to be a remote or unlikely event. Speci\ue6d1cally:- association fees are entered on the Income Statement according to the credit card validity date;- commission income from merchants and systems are entered on the Income Statement, according to the trading date of expenses incurred by the holders;- up-front revenues connected with the start of new customers and new products are recorded throughout the expected term of the contracts;- revenues for design activities speci\ue6d1cally requested by customers are recorded during development (overtime), if any of the following conditions apply:a. the customer simultaneously receives and uses the bene\ue6d1ts deriving from the provision, as it is made;b. the provision is provided on customer\u2019s assets;c. the asset produced has no alternative use and Nexi is entitled to be paid for the work done to date; if not, the costs and revenues of the project are suspended and recorded at the end of the design phase;- the revenues connected with recurring services (mainly maintenance and rental of POSs and ATMs and processing services) are split in a linear fashion throughout the contract term.It is also noted that, in application of IFRS 15, the value of the commission is recti\ue6d1ed in order to take the Fair Value of the premiums connected with the Loyalty program into account. The Fair Value of the premium catalogue is calculated as the average unitary value of the points with respect to the market value of the premiums, including VAT and delivery expenses. The unitary Fair Value is applied to the number of points in circulation, net of the points that, on the basis of the analysis performed, are expected not to be redeemed (on the basis of the redemption estimates). Deferred commission is recognised in the Income Statement according to point redemption.Commission considered in the amortised cost to calculate the e\ue7e8ective interest rate are excluded and recognised instead under interest income.Commission ExpenseCommission expense, other than that included in the amortised cost, is recognised when incurred or when the related revenues are recorded.",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForFeeAndCommissionIncomeAndExpenseExplanatory",
"language": "en",
"entity": "scheme:5493000P70CQRQG8SN85",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
}
},
"f0__s8__6__36": {
"value": "Dividends are recognised in the Income Statement when their distribution is resolved upon.",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForDividendsExplanatory",
"language": "en",
"entity": "scheme:5493000P70CQRQG8SN85",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
}
},
"f0__s8__6__37-1": {
"value": "The segment disclosure of the Nexi Group is based on the elements that the management uses to make its operative decisions and is therefore consistent with the information requirements envisaged by IFRS 8.Speci\ue6d1cally, the identi\ue6d1cation of the operating segments is based on the way in which the reports that the \u201cchief operating decision maker\u201d (i.e. the highest operative decision-making level, as de\ue6d1ned by IFRS 8) receives and uses for the purpose of decision-making in regard to the resources to be allocated and the assessment of results42. Segment reportingThe segment disclosure has been prepared in compliance with the IFRS 8 international accounting standard.Consistent with the Group\u2019s organisational structure as well as the related management reporting methods, the following Operating Sectors were thus identified, coinciding with the CGUs used for the purposes of the Impairment Test (see paragraph 9.3):- Merchant Solutions: through this business line, the Group provides the services necessary to enable merchants to accept digital payments, including through commercial relationships with partner banks, for transactions carried out physically at retail outlets and digital transactions on the internet (e-commerce);- Issuing Solutions: through this business line, working with its partner banks the Group provides a broad spectrum of issuing services, i.e. relating to the procurement, issuing and management of payment cards;- Digital Banking Solutions: through this business line, the Group provides ATM terminal management, clearing, digital corporate bank-ing, as well as network services.The geographical breakdown of revenues is also provided.Section 42.2 presents a reconciliation of the Income Statement drafted by means of segment disclosure and the Income Statement prepared in the Financial Statements.42.1 SEGMENT REPORTING: INCOME STATEMENT FOR THE PERIOD(Amounts in million euros)Merchant Issuing Digital Banking Total 2024SolutionsSolutionsSolutionssegmentOperating revenues 1,995 1,128 389 3,513Personnel expenses (427) (223) (91) (742)Other administrative expenses (476) (298) (134) (907)Adjustments and net operating provisions (1) (2) 1 (2)Operating costs net of amortization (904) (523) (224) (1,650)EBITDA 1,091 605 166 1,862Amortization and depreciation (914)Operating margin 948Interest and financial costs (228)Non-recurring items (332)Profit/(Loss) before taxes 388Income taxes (217)Profit/(Loss) for the year 171Profit for the year attributable to non-controlling interests (4)Profit/(Loss) attributable to the Group 167(Amounts in million euros)Merchant Issuing Digital Banking Total 2023SolutionsSolutionsSolutionssegmentOperating revenues 1,863 1,085 383 3,331Personnel expenses (428) (208) (94) (730)Other administrative expenses (479) (273) (142) (894)Adjustments and net operating provisions 14 5 4 23Operating costs net of amortization (893) (476) (232) (1,601)EBITDA 969 609 151 1,730Amortization and depreciation (895)Operating margin 834Interest and financial costs (245)Non-recurring items (1,459)Profit/(Loss) before taxes (869)Income taxes (133)Profit/(Loss) for the year (1,003)Profit for the year attributable to non-controlling interests (3)Profit/(Loss) attributable to the Group (1,006)The EBITDA presented above is the \u201cnormalised EBITDA\u201d as described in the \u201cAlternative Performance Measures\u201d section of the Man-agement Report.The breakdown of revenues by geographical area is as follows.(Amounts in million euros)Operating Operating revenues 2024revenues 2023Italy 2,067 1,966Nordics & Baltics 608 602DACH & Poland (*) 484 440SE Europe & Other 353 324Total Operating Revenues 3,513 3,331(*) DACH includes Germany, Austria and Switzerland.42.2 SEGMENT REPORTING: RECONCILIATION OF SEGMENT REPORTING ON THE INCOME STATEMENT WITH INCOME STATEMENT FOR THE PERIOD(Amounts in million euros)Total segment Reconciliation Financial statementsreportingOperating revenues/Financial and operating income 3,513 (137) 3,375Personnel expenses (742) (204) (945)Other administrative expenses (907) (193) (1,100)Adjustments and net operating provisions (2) (8) (10)Operating costs net of amortization (1,650) EBITDA 1,862 Amortization and depreciation (914) 3 (911)Operating margin 948 Interest and financial costs (228) 228 -Non-recurring items (332) 312 (20)Profit/(Loss) before taxes 388 1 389Income taxes (217) (0) (217)Profit/(Loss) for the year 171 0 171Profit for the year attributable to non-controlling interests (4) (0) (4)Profit/(Loss) attributable to the Group 167 0 167",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForSegmentReportingExplanatory",
"language": "en",
"entity": "scheme:5493000P70CQRQG8SN85",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
}
},
"f0__s8__6__39": {
"value": "Use of Estimates and Assumptions in Preparing the Consolidated Financial StatementsIn accordance with the IASs/IFRSs, the implementation of some accounting standards illustrated above for the several balance sheet aggregates can entail the adoption, by Corporate Management, of estimates and assumptions capable of signi\ue6d1cantly impacting the values recognised in the Statement of Financial Position and in the Income Statement.The drafting of such estimates implies the use of the information available and the adoption of subjective evaluations, also based on historical experience, used for the purpose of formulating reasonable assumptions for the reporting of management-related issues. In the presence of signi\ue6d1cant uncertainties and/or activities subject to measurement of particular materiality, the valuation is supported by external experts/appraisers, by fairness opinions and/or independent assessments.By nature, the estimations and assumptions used may vary from year to year and, therefore, it cannot be ruled out that in subsequent \ue6d1nancial periods the values posted to the \ue6d1nancial statements may also vary signi\ue6d1cantly as a result of changes in the subjective evalu-ations used. Speci\ue6d1cally, the measurement process is particularly complex, considering how uncertain the macroeconomic and market contexts are, hence it is not possible to rule out that the envisaged hypotheses, while being reasonable, may not be con\ue6d1rmed in the future scenarios in which the Group shall operate. The parameters and information used to check the aforesaid amounts are therefore considerably a\ue7e8ected by such factors, which may quickly change in a way that is not currently foreseeable, to the point that future bal-ance sheet amounts might be a\ue7e8ected.The main factors of uncertainty that could a\ue7e8ect the future scenarios the Group will operate in include macroeconomic impacts related to interest rate trends, in\ue6d2ation and market trends.In that respect, please also note that an estimate can be adjusted following changes to the circumstances on which it was based or new information or even additional experience. Any change to the estimate is applied prospectively and therefore impacts the Income Statement of the period in which the change is made and, potentially, those of future years.While stressing that the use of reasonable estimates is key when drafting \ue6d1nancial statements, without this factor being held to a\ue7e8ect their reliability, below are the items in which the use of estimates and assumptions is most signi\ue6d1cant, both in terms of the materiality of the values to be recognised in the balance sheet and impacted by such policies, and in terms of the complexity of the measurements, which entails the resorting to estimates and assumptions by Corporate Management:- valuation of the \ue6d1nancial assets and liabilities measured at Fair Value not listed on active markets;- Fair Value measurement of assets and liabilities within the Purchase Price Allocation processes carried out following the completion of business combinations as described in the speci\ue6d1c section;- measurement of the \ue6d1nancial assets measured at amortised cost and loan commitments;- stock valuation;- quanti\ue6d1cation of the useful life of intangible assets with a \ue6d1nite useful life and tangible assets;- estimate of the recoverable amount of goodwill for impairment testing purposes;- quanti\ue6d1cation of employee bene\ue6d1ts and share-based payments;- quanti\ue6d1cation of provisions made for risks and charges and payables for Loyalty programmes;- assessment of the recoverability of deferred taxation.For some of the cases listed above, the main factors can be identi\ue6d1ed that are subject to estimates by the Group and therefore contrib-ute to determining the value at which assets and liabilities are recognised in the \ue6d1nancial statements. Without claiming to be exhaustive, note that:- to determine the Fair Value of \ue6d1nancial instruments not listed on active markets, if it is necessary to use parameters that cannot be deduced from the market, the main estimates concern, on the one hand, the development of future cash \ue6d2ows (or even income \ue6d2ows, in the case of equities), possibly conditioned by future events, and on the other hand the level of certain input parameters not listed on active markets;- to determine the value of goodwill and other intangible assets with a \ue6d1nite useful life arising from business combinations, with regard to the Cash Generating Units (CGUs) of the Group, the future cash \ue6d2ows in the analytical forecast period and the \ue6d2ows used to deter-mine the so-called terminal value generated by the CGU are estimated separately and appropriately discounted, and in the case of assets with a \ue6d1nite useful life the estimated useful life. The cost of capital is also included in the estimated elements;- to quantify employee bene\ue6d1ts requiring actuarial valuation, the present value of the obligations is estimated taking into account the appropriately discounted \ue6d2ows resulting from historical statistical analyses, and the demographic curve;- when quantifying provisions for risks and charges, where possible an estimate is made of the amount of disbursements required to ful\ue6d1l obligations, taking into account the actual likelihood of having to use resources;- to determine deferred taxation items, the probability of actual future taxable income (taxable temporary di\ue7e8erences) and the degree of reasonable certainty \u2013 if any \u2013 of future taxable income at the time when tax deductibility will arise (deductible temporary di\ue7e8er-ences and tax loss carryforwards) are estimated.Events after the Reporting Period No events occurred after the date of the \ue6d1nancial statements that had an impact thereon pursuant to IAS 10. For further information, please refer to Management Report.",
"dimensions": {
"concept": "ifrs-full:DisclosureOfAccountingJudgementsAndEstimatesExplanatory",
"language": "en",
"entity": "scheme:5493000P70CQRQG8SN85",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
}
},
"f0__s8__6__41": {
"value": "Transfers of Financial Assets Between Portfolios No transfers of \ue6d1nancial assets between portfolios occurred.",
"dimensions": {
"concept": "ifrs-full:DisclosureOfTransfersOfFinancialAssetsExplanatory",
"language": "en",
"entity": "scheme:5493000P70CQRQG8SN85",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
}
},
"f0__s8__6__40": {
"value": "Transfers of Financial Assets Between Portfolios No transfers of \ue6d1nancial assets between portfolios occurred.",
"dimensions": {
"concept": "ifrs-full:DisclosureOfEventsAfterReportingPeriodExplanatory",
"language": "en",
"entity": "scheme:5493000P70CQRQG8SN85",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
}
},
"f0__s8__6__42": {
"value": "Fair Value Disclosure The international accounting standards IAS/IFRS prescribe the Fair Value measurement for \ue6d1nancial products classi\ue6d1ed as \u201cFinancial assets at Fair Value through OCI\u201d and \u201cFinancial assets at FVPL\u201d.Accounting standard IFRS 13 regulates the Fair Value measurement and related disclosure.More speci\ue6d1cally, the Fair Value is the price that would be received for the sale of an asset, or which would be paid for the transfer of a li-ability in a regular transaction between market operators (i.e. not in a compulsory liquidation or sale below cost) as at the valuation date.In determining the Fair Value of a \ue6d1nancial instrument, IFRS 13 establishes a hierarchy of criteria in terms of the reliability of the Fair Val-ue, according to the degree of discretion applied to businesses, giving precedence to the use of parameters that can be observed on the market, which re\ue6d2ect the assumptions that the market participants would use in the valuation (pricing) of the asset/liability. Three di\ue7e8erent levels of input are identi\ue6d1ed:- Level 1: inputs consisting of listed prices (unadjusted) on active markets for identical assets or liabilities that can be accessed at the measurement date;- Level 2: inputs other than the listed prices included on Level 1, which can be observed, directly (as in the case of prices) or indirectly (insofar as deriving from the prices) for assets or liabilities to be measured;- Level 3: inputs for assets or liabilities that are not based on observable market data.The measurement method de\ue6d1ned for a \ue6d1nancial instrument is adopted continuously over time and modi\ue6d1ed only following signi\ue6d1cant changes in market conditions or subjective conditions of the \ue6d1nancial instrument issuer.For \ue6d1nancial assets and liabilities recognised on the \ue6d1nancial statements at cost or amortised cost, the Fair Value given in the Notes is determined according to the following method:- for bonds issued: Fair Value obtained from active markets where the liability is traded;- for assets and liabilities at \ue6d1xed rates in the medium/long-term (other than securities issued): discounting of future cash \ue6d2ows at a rate obtained from the market and recti\ue6d1ed to include the credit risk;- for variable rate, on demand assets or those with short-term maturities: the carrying amount recognised net of the analytical and col-lective impairment is considered a good approximation of the Fair Value, insofar as it incorporates the change in rates and the change in the counterparty\u2019s credit risk;- for variable rate and short-term \ue6d1xed rate liabilities: the carrying amount is considered a good approximation of the Fair Value, for the reasons given above.",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForFairValueMeasurementExplanatory",
"language": "en",
"entity": "scheme:5493000P70CQRQG8SN85",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
}
},
"f0__s8__6__43": {
"value": "Fair Value Levels 2 and 3: Measurement Techniques and Inputs UsedThe information requested by IFRS 13 concerning accounting portfolios measured at Fair Value on a recurring basis and not measured at Fair Value or measured at Fair Value on a non-recurring basis is reported below.Assets and Liabilities Measured at Fair Value on a Recurring BasisAt the date of the consolidated \ue6d1nancial statements, the following instruments valued at Fair Value were mainly in place:- Visa Preferred Class C Shares: these are measured according to the market value of Visa Inc Class A shares, listed on active markets where the portfolio shares (class C) will be converted, adjusting the value to re\ue6d2ect both the liquidity risk of class C shares and the potential adjustments to the conversion ratio, as communicated by Visa under the speci\ue6d1c section of the company\u2019s website, which varies depending on potential future liabilities to European merchants of Visa Europe, a company that has been incorporated into Visa Inc US.- Acorns shares in the portfolio, Fair Value was estimated using models generally used by market operators (Market multiples as main method and Discounted Cash Flow as control method) based partially on market-driven parameters.- Banca Popolare di Sondrio shares in portfolio, listed on active markets and valued according to market prices.- Contingent consideration: Fair Value is estimated as the present value of expected cash out\ue6d2ows, based on contractually agreed earn-out mechanisms, using the weighted average cost of capital (WACC) at the valuation date.- Derivatives on shares of unlisted companies: Fair Value is estimated using models generally used by market participants (Black & Scholes) and supplemented where possible with parameters derived from the market.- Hedging derivatives: outstanding derivatives consist of plain vanilla interest rate swaps, the fair value of which is estimated using val-uation models in line with market practice. Speci\ue6d1cally, since these derivatives are not listed on active markets and are not subject to Credit Support Annexes (CSA), the Fair Value is determined as the sum of the risk-free (mid-market) reference value and the Credit Value Adjustment (CVA), understood as the counterparty risk premium linked to the possibility that the counterparties to the contract may not honour their commitments. The CVA is calculated using valuation models that take into account the Loss Given Default (LGC) and Probability of Default (PD), which are determined on the basis of market information, where available.Assets and Liabilities Measured at Fair Value on a Non-Recurring BasisFinancial instruments not measured at Fair Value (FV), including loans and receivables with customers and banks are not managed on a Fair Value basis. For said assets, Fair Value is calculated solely for the purpose of complying with the request of disclosure to the market and has no impact on the \ue6d1nancial statements or on pro\ue6d1t and loss. Furthermore, since these assets are not generally traded, the deter-mining of Fair Value is based on the use of internal parameters not directly detectable on the market, as de\ue6d1ned under IFRS 13.- Cash and cash equivalents: given their short-term nature and their negligible credit risk, the carrying amount of cash and cash equiv-alents is practically equal to the Fair Value.- Financial assets measured at amortised cost: for variable rate, on demand assets or those with short-term maturities, the carrying amount recognised net of the analytical and collective impairment is considered a good approximation of the Fair Value, insofar as it incorporates the change in rates and the change in the counterparty\u2019s credit risk.- Investment property: the Fair Value of Investment property is determined on the basis of a measurement made by independent experts holding duly acknowledged and pertinent professional expertise, who conduct their measurement mainly on the basis of an indirect knowledge of assets through the information made available by the holders with reference to property location, consistency, venue use, and in view of market analyses.- Financial liabilities measured at amortised cost: the carrying amount is considered to approximately be equivalent to Fair Value for variable and \ue6d1xed rate, short term liabilities. As for debt instruments issued, Fair Value is calculated based on active markets where liabilities have been traded.Measurement Process and SensitivityFor a discussion of the valuation techniques, inputs and processes used by the Group for instruments classi\ue6d1ed in level 3 of the fair value hierarchy, see the considerations set out above.Exposures in level 3 \ue6d1nancial instruments mainly consist of shares in unlisted companies and equity derivatives.For these instruments, a sensitivity analysis was conducted with respect to the main valuation parameters as follows. The above analysis shows how much the fair value of the instrument would vary in percentage terms if the valuation parameter indicated in the table were to change.CALL OPTION SOLD ON SHARES OF NEXI PAYMENTS GREECEDiscount Rate/Volatility 2% Base -2%1% 189% 21% -61%Base 146% 0% -69%-1% 109% -18% -76%PUT AND CALL OPTIONS TO PURCHASE SHARES OF COMPUTOP GMBHDiscount Rate/Volatility 2% Base -2%1% 6.8% 6.7% 35.0%Base -0.1% 0% 0.1%-1% -7.0 % -6.9% -6.7%ACORNS SHARESA sensitivity analysis was performed considering a change in the illiquidity discount on the EV/Sales multiple as reported here.% Impact on Fair Value-0,5% 7%Base 0% +5%-7%Fair Value HierarchyTransfers between Fair Value levels derive from the empirical observation of intrinsic phenomena of the instrument taken into ac-count or the markets on which it is traded.Changes from Level 1 to Level 2 are brought about by a lack of an adequate number of contributors or the limited number of investors holding the float in issue.Conversely, securities that at issue are not very liquid but have high numbers of contracts - thereby classified as Level 2 - are trans-ferred to Level 1 when the existence is seen of an active market.There have been no transfers between categories of financial assets and liabilities between Level 1, Level 2 or Level 3.Quantitative DisclosureFair Value HierarchyASSETS AND LIABILITIES MEASURED AT FAIR VALUE ON A RECURRING BASIS: BREAKDOWN BY FAIR VALUE LEVELS Dec.31, 2024 Dec.31, 2023 Level 1 Level 2 Level 3 Level 1 Level 2 Level 3 Financial assets measured at Fair Value through profit or loss - 3,108 14,582 - 3,388 6,260 Financial assets at Fair Value through OCI 36,906 55,312 10,000 30,460 79,080 10,000 Hedging derivatives - - - - 1,571 - Total 36,906 58,420 24,582 30,460 84,040 16,260 Financial liabilities at Fair Value through profit or loss - 240,076 1,416 - 245,624 689 Hedging derivatives - 23,167 - - 24,419 - Total - 263,243 1,416 - 270,043 689 The item \u201cFinancial assets measured at Fair Value through profit or loss\u201d mainly includes the Fair Value of outstanding derivatives on shares of companies measured at Equity (approximately Euro 14 million) and the Fair Value of equity instruments (Euro 3 million) meas-ured at Fair Value through profit or loss.The item \u201cFinancial assets at fair value through OCI\u201d consists of capital assets not held for trading, which the company, at initial recogni-tion, has irrevocably chosen to classify and measure at FVTOCI.The item \u201cFinancial liabilities at Fair Value through profit or loss\u201d mainly comprises liabilities associated with contingent consideration recognised in connection with acquisitions for which earn out mechanisms are envisaged and the options related to the shares held in subsidiaries.There have been no transfers between categories of financial assets and liabilities between Level 1, Level 2 or Level 3.Annual Changes of Assets and Liabilities Measured at Fair Value on a Recurring Basis (Level 3)In 2024 there were no changes in the composition of assets and liabilities measured at Level 3 Fair Value.ASSETS AND LIABILITIES NOT MEASURED AT FAIR VALUE OR MEASURED AT FAIR VALUE ON A NON-RECURRING BASIS: BREAKDOWN BY FAIR VALUE LEVELS Dec. 31, 2024 Dec. 31, 2023 Level 1 Level 2 Level 3 Carrying Level 1 Level 2 Level 3 Carrying amountamount Loans and receivables with banks - 2,729,690 - 2,729,690 - 2,225,657 - 2,225,657 Loans and receivables with customers - 2,500,574 6,859 2,507,432 - 3,462,857 20,070 3,482,928 Investment property - 1,330 - 1,130 - 1,360 - 1,204 Total - 5,231,594 6,859 5,238,253 - 5,689,874 20,070 5,709,789 Payables to banks - 4,541,899 - 4,541,899 - 4,130,544 - 4,130,544 Payables due to financial entities and customers - 2,279,906 - 2,279,906 - 2,919,348 - 2,919,348 Securities issued - 3,277,865 - 3,383,233 - 3,841,097 - 4,045,744 Total - 10,099,670 - 10,205,038 - 10,890,989 - 11,095,636 Information on \u201cDay One Profit or Loss\u201d Not reported to the extent that for Nexi Group no transactions are recorded that are ascribable to this item.",
"dimensions": {
"concept": "ifrs-full:DisclosureOfFairValueMeasurementExplanatory",
"language": "en",
"entity": "scheme:5493000P70CQRQG8SN85",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
}
},
"f0__s8__6__44": {
"value": "3. Cash and Cash Equivalents Dec. 31, 2024 Dec. 31, 2023a) Cash 47 46b) Deposits and current accounts 74,628 800,128 Total 74,675 800,172 The item \u201cDeposits and current accounts\u201d refers to the liquid funds in the current accounts of Nexi SpA, and is included in the Net Financial Position presented in the Management Report. The decrease is mainly related to the share buyback plan, intra-group transac-tions mainly related to the repayment of the Nassa Bond, as well as the effects of costs incurred by the parent company, and dividends received from subsidiaries.",
"dimensions": {
"concept": "ifrs-full:DisclosureOfCashAndCashEquivalentsExplanatory",
"language": "en",
"entity": "scheme:5493000P70CQRQG8SN85",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
}
},
"f0__s8__6__45-1": {
"value": "4. Financial Assets Measured at Fair Value4.1 BREAKDOWN OF FINANCIAL ASSETS MEASURED AT FAIR VALUE Dec. 31, 2024 Dec. 31, 2023Financial assets measured at Fair Value through profit or loss 17,690 9,648 Financial assets measured at Fair Value through OCI 102,217 119,540 Total 119,907 129,189 4.2 BREAKDOWN OF FINANCIAL ASSETS MEASURED AT FAIR VALUE THROUGH PROFIT OR LOSSThis item, totalling Euro 18 million, is mainly composed of:- \u201cFinancial assets measured at Fair Value through profit or loss\u201d for Euro 3 million, related to investments in equity instruments that do not confer any influence on the investee company.- \u201cOther financial assets mandatorily measured at Fair Value\u201d for Euro 14 million that refer to the Fair Value as of the reporting date of derivatives related to the purchase of the third tranche of the shares in Computop GmbH, a company over which the Group exercises joint control at the reporting date. Note that the strike price for the settlement of this derivative was estimated at Euro 58 million.4.3 BREAKDOWN BY PRODUCT OF FINANCIAL ASSETS AT FAIR VALUE THROUGH OCI Dec. 31, 2024 Dec. 31, 2023Debt instruments - - Equity instruments 102,217 119,540 Financing - - Total 102,217 119,540 The item \"Financial assets measured at fair value with impact on overall profitability\" refers to shares held by Group companies, over which Nexi does not exercise control, joint control or significant influence. It should be noted in particular that the item also includes Visa Series C shares, convertible into Class A ordinary Visa shares at a variable conversion factor depending on the expenses arising from the contingent liabilities of ex-Visa Europe.5. Financial Assets Measured at Amortised Cost5.1 LOANS AND RECEIVABLES WITH BANKS: BREAKDOWN BY PRODUCTDec. 31, 2024 Dec. 31, 2023Carrying amount Fair Value Carrying amount Fair ValueStages 1 & 2 Stage 3 Level 1 Level 2 Level 3 Stages 1 & 2 Stage 3 Level 1 Level 2 Level 3Loans and receivables with banksDeposits and current 2,635,989 - - 2,635,989 - 1,876,717 - - 1,876,717 - accountsPrepaid cards liquidity 44,802 - - 44,802 - 46,153 - - 46,153 - Restricted deposits 44,573 - - 44,573 - 231,978 - - 231,978 - Other assets 4,325 - - 4,325 - 70,809 - - 70,809 - Total 2,729,690 - - 2,729,690 - 2,225,657 - - 2,225,657 - The current account balance includes the daily settlement balance of transactions processed by the Group on behalf of Intesa Sanpaolo and the liquidity at the level of the operating entities only.The liquidity of the prepaid cards relates to the activity carried out on them as an electronic money institution (IMEL). Such liquidity is considered separate from operational liquidity to the extent that it is deposited in a restricted current account, transactions on which are limited to covering uses of prepaid cards by cardholders.The item \u201cTime deposits\u201d includes the escrow accounts related to deposits pledged as collateral for deferred payments made to mer-chants as part of the acquiring business and the \u201cBuy now pay later\u201d business, as well as deposits pledged as collateral for Nexi Payments\u2019 factoring operations on ordinary card balances.The total of the item includes Euro 1,330 million of liquidity in the operating companies\u2019 bank accounts, which has been included in the Group\u2019s Net Financial Position at 31 December 2024 in the Management Report.5.2 LOANS AND RECEIVABLES WITH FINANCIAL ENTITIES OR CUSTOMERS: BREAKDOWN BY PRODUCTDec. 31, 2024 Dec. 31, 2023Carrying amount Fair Value Carrying amount Fair ValueStages Stage 3 Stages Stage 3 1 & 21 & 2Purchased Other Level 1 Level 2 Level 3 Purchased Other Level 1 Level 2 Level 3Ordinary credit cards 466,995 - - - 466,995 - 145,828 - - - 145,828 - Receivables from 1,408,303 - - - 1,408,303 - 2,592,928 - - - 2,592,928 - schemesRevolving credit cards 314,628 - 546 - 314,628 546 305,053 - 523 - 305,053 523 Receivables from 93,535 - 3,903 - 93,535 3,903 92,679 - 17,558 - 92,679 17,558 \"Buy Now Pay Later\" solutionReceivables from 149,896 - - - 149,896 - 142,134 - 2 - 142,134 2 merchantsOther assets 67,215 - 2,410 - 67,215 2,410 184,234 - 1,988 - 184,234 1,988 Total 2,500,573 - 6,859 - 2,500,574 6,859 3,462,857 - 20,070 - 3,462,857 20,070 The \u201cOrdinary credit cards\u201d item refers to charge cards and is the balance at the end of each month of the amount cumulatively spent up to that date by the cardholders during the last operative month. Via the partner banks this amount is generally debited to the current accounts of holders on the 15th day of the following month. The group adopts a model according to which the receivables deriving from ordinary credit cards are the object of factoring operations that envisage the daily sale of receivables. The balance at 31 December 2024, included Euro 41.7 million worth of receivables sold on a with recourse basis and which therefore have not been derecognised.As at 31 December 2024 the assigned derecognised receivables amounted to Euro 2,040.4 million. Positions in respect of international schemes refer to the daily settlement balances on the Visa-Mastercard schemes and include the deposit paid by the Group\u2019s operating companies to its customer merchants on transactions that are yet to be settled. All such positions are settled within a few days (generally 1 to 3 days). Moreover, these period-end balances are influenced by the number of non-working days running across the end of each period, days on which settlement systems are closed, determining a greater build-up of transac-tions and a consequent drawdown of funding facilities. The item \u201cRevolving credit cards\u201d mainly includes receivables guaranteed by partner banks. The item \u201cBuy now pay later receivables\u201d refers to receivables arising from the \u201cBuy Now Pay Later\u201d solution provided through the Nets Group. The item \u201cReceivables from merchants\u201d refers to trade receivables from merchants for commissions to be collected. As the latter two items are not related to asset settlement accounts, they are included for the purpose of calculating the effects of working capital.\u201cOther assets\u201d mainly include the amount due from the factoring company of Nexi Payments SpA of Euro 64.6 million connected with the balance to be settled daily with the counterparty.5.3 LOANS AND RECEIVABLES WITH CUSTOMERS: GROSS AND NET VALUES AND WRITE-OFFS OF PERFORMING AND NON-PERFORMING LOANSDec. 31, 2024 Dec. 31, 2023Gross value Fund Net value Gross value Fund Net valuePerforming loans - Stage 1 2,502,985 (2,987) 2,499,998 3,467,708 (4,851) 3,462,857- Stage 2 654 (78) 575 - - - Non-performing loans - Stage 3 65,574 (58,715) 6,859 61,743 (41,673) 20,070Total 2,569,213 (61,781) 2,507,432 3,529,451 (46,523) 3,482,92813. Financial Liabilities Measured at Amortised Cost13.1 FINANCIAL LIABILITIES DUE TO BANKS (BREAKDOWN BY PRODUCT)Dec. 31, 2024 Dec. 31, 2023Carrying Fair Value Carrying Fair ValueamountamountLevel 1 Level 2 Level 3 Level 1 Level 2 Level 3 1. Financing 4,405,314 - 4,405,314 - 3,958,052 - 3,958,052 - 2. Other liabilities 136,586 - 136,586 - 172,492 - 172,492 - 3. Lease liabilities - - - - - - - - Total 4,541,899 - 4,541,899 - 4,130,544 - 4,130,544 - The item \u201cFinancing\u201d mainly includes the Group\u2019s funding, composed as follows:- the IPO Term Line for Euro 1,013 million. The carrying amount as at the reporting date included direct residual transactions costs, not yet amortised, for Euro 4 million;- the Term Loan for Euro 371 million. The carrying amount as at the reporting date included direct residual transaction costs, not yet amortised, for Euro 0.6 million;- the BBPM Credit Line for Euro 140 million, net of the repayment of Euro 60 million during 2024. The carrying amount as at the reporting date included direct residual transaction costs, not yet amortised, for Euro 0.3 million;- the 2022 Term Loan for Euro 897 million. The carrying amount as at the reporting date included direct residual transaction costs, not yet amortised, of Euro 3.3 million; - the BPER loan agreement amounting to Euro 50 million;- the payable to Alpha Bank in the amount of Euro 122 million for the deferred payment of the purchase of Nexi Payments Greece;- Rate Pay funding to support the operation of pay-later services in the amount of Euro 73 million.Moreover, the item includes credit lines used by the Group for settlements.The item \u201cOther liabilities\u201d mainly refers to payables for fees and other retrocessions to partner banks.The item total includes Euro 2,666 million in bank financing included in the Net Financial Position discussed in the Management Report.13.2 FINANCIAL LIABILITIES DUE TO FINANCIAL ENTITIES AND CUSTOMERS: BREAKDOWN BY PRODUCT Dec. 31, 2024 Dec. 31, 2023Carrying Fair Value Carrying Fair ValueamountamountLevel 1 Level 2 Level 3 Level 1 Level 2 Level 3 1. Financing 149,811 - 149,811 - 189,775 - 189,775 - 2. Other liabilities 1,999,885 - 1,999,885 - 2,566,050 - 2,566,050 - 3. Lease liabilities 130,209 - 130,209 - 163,523 - 163,523 - Total 2,279,906 - 2,279,906 - 2,919,348 - 2,919,348 - The item \u201cFinancing\u201d mainly refers for Euro 109.3 million to payables to the factoring company for advances on ordinary credit cards sold with recourse. The item also includes payables to merchants related to the Buy now pay later product (which are included for the purpose of calculating the effects of working capital) in the amount of Euro 4 million (net of the escrow accounts) (Euro 22 million as at December 2023).The item \u201cOther liabilities\u201d mainly includes settlement payables of the acquiring business arising from the activities of the foreign oper-ating companies, as well as balances related to prepaid cards.The amount of Euro 136 million, consisting mainly of Lease Liabilities, is included in the Net Financial Position.13.3 SECURITIES ISSUED: BREAKDOWN BY PRODUCTDec. 31, 2024 Dec. 31, 2023Carrying Fair Value Carrying Fair Valueamountamount Level 1 Level 2 Level 3 Level 1 Level 2 Level 3 1. Fixed rate securities 3,383,233 - 3,277,865 - 4,045,744 - 3,841,097 - 2. Floating rate securities - - - - - - - - Total 3,383,233 - 3,277,865 - 4,045,744 - 3,841,097 - Note: with reference to the convertible bonds, the Fair Value above refers to financial liability for the issue as a whole.As more fully explained in the Directors\u2019 Report, the item refers to:- the 2026 Bonds in the amount of Euro 926 million, including direct transaction costs not yet amortised in the amount of Euro 2.8 million;- the 2029 Bonds in the amount of Euro 1,047 million, including direct transaction costs not yet amortised in the amount of Euro 6.5 million;- the 2027 Convertible Loan, in the amount of Euro 479 million, including direct transaction costs not yet amortised in the amount of Euro 2.2 million attributed to the \u201cPayable\u201d component;- the 2028 Convertible Loan, in the amount of Euro 931 million, including direct transaction costs not yet amortised in the amount of Euro 5.7 million attributed to the \u201cPayable\u201d component.Note that the Nassa Topco Bond Loan and the 2024 Bond Loan recorded in the 2023 financial statements were repaid in the respective amounts of Euro 219 million and Euro 477 million during 2024.This item is entirely included in the Net Financial Position shown in the Management Report.",
"dimensions": {
"concept": "ifrs-full:DisclosureOfFinancialInstrumentsExplanatory",
"language": "en",
"entity": "scheme:5493000P70CQRQG8SN85",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
}
},
"f0__s8__6__47": {
"value": "6. Hedging DerivativesDuring 2022 Nexi SpA entered into cash flow hedging transactions related to certain outstanding variable-rate financing. These trans-actions fall under the type of cash flow hedges envisaged by IFRS 9.At the reporting date the derivatives stipulated had the following values:Fair Value Dec. 31, 2024 Fair Value Dec. 31, 2023Carrying Fair Value Carrying Fair ValueamountamountLevel 1 Level 2 Level 3 Level 1 Level 2 Level 3 Derivatives with positive Fair Value Fair Value hedge Cash flow hedge - - 1,571 1,571 Total - - - - 1,571 - 1,571 - Derivatives with negative Fair Value Fair Value hedge Cash flow hedge 23,167 23,167 24,419 24,419 Total 23,167 - 23,167 - 24,419 - 24,419 - The negative Fair Value of hedging derivative, amount of Euro 23 million, has been included in the Net Financial Position. The total no-tional amount of outstanding hedging derivatives, represented by plain vanilla interest rate swaps, is Euro 900 million.",
"dimensions": {
"concept": "ifrs-full:DisclosureOfDerivativeFinancialInstrumentsExplanatory",
"language": "en",
"entity": "scheme:5493000P70CQRQG8SN85",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
}
},
"f0__s8__6__48": {
"value": "7. Equity Investments7.1 EQUITY INVESTMENTS: BREAKDOWNThe balance of this item consists of the following Equity Investments:Carrying Carrying Direct Nameamount amount ownershipDec. 31, 2024Dec. 31, 2023A. Companies subject to joint control e-Boks A/S, Denmark Nets Denmark A/S 18,828 20,648 Computop Paygate GmbH Nexi Germany Holding GmbH 43,750 44,249 B. Companies subject to significant influence QRTAG Sp. z.o.o. Centrum Rozliczen Elektronicznych 1,315 1,292 Polskie ePlatnosci S.A.Digital Commerce Finland Oy Paytrail Oyj 50 50 Nexi Digital Nexi SpA 1,728 1,385 Rs-Record Store into liquidation Nexi Payments SpA - - WEAT Electronic Datenservice GmbH, Germany Nexi Germany GmbH 4,484 4,336 Total 70,154 71,960 7.2 CHANGE IN EQUITY INVESTMENTS CARRIED IN EQUITYEffect of Carrying Carrying of which Acquisitions measurement Other Nameamount Dividendsamount implicit 2024at equity changesDec. 31, 2023Dec. 31, 2024Goodwillmethode-Boks A/S, Denmark 20,599 - 1,550 - (3,319) 18,830 9,398 Computop Paygate GmbH 44,249 - (499) - - 43,750 40,043 Other equity investments 7,113 - 2,354 (1,863) (29) 7,574 62 Total 71,960 - 3,406 (1,863) (3,349) 70,154 7.3 EQUITY INVESTMENTS: ACCOUNTING INFORMATIONResult for the Company name % held Currency RevenuesEquityyeare-Boks A/S, Denmark 50% DKK 186,808 13,535 159,633 Computop Paygate GmbH 30% Euro 20,270 (2,965) 15,506 QRTAG Sp. z.o.o. 45% PLN 966 (522) 3,183 Digital Commerce Finland Oy 17% Euro 177 (89) 211 Nexi Digital 49% Euro 31,278 2,778 2,831 Rs-Record Store S.p.A. in liquidazione 30% Euro 303 160 403 WEAT Electronic Datenservice GmbH, Germany 40% Euro 19,066 2,867 12,428 The figures in the table above refer to the latest approved financial statements and include the results of any equity investments held by the entities indicated above.",
"dimensions": {
"concept": "ifrs-full:DisclosureOfInterestsInOtherEntitiesExplanatory",
"language": "en",
"entity": "scheme:5493000P70CQRQG8SN85",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
}
},
"f0__s8__6__49": {
"value": "8. Tangible Assets8.1 TANGIBLE ASSETS: BREAKDOWN OF ASSETS BY DESTINATION Dec. 31, 2024 Dec. 31, 2023Property and equipment 509,228 547,849 Investment property 1,130 1,204 Total 510,359 549,053 8.2 PROPERTY AND EQUIPMENT: BREAKDOWNE Dec. 31, 2024 Dec. 31, 2023Owned a) Land 41,055 42,175 b) Buildings 56,016 65,866c) POS and ATM 172,859 159,449d) Machinery and electronic equipment/systems 109,583 114,951 e) Furniture and furnishings 5,230 7,405 f) Other 3,124 13,098 Rights of use from leasing contractsa) Land - -b) Buildings 86,023 98,731 c) POS and ATM 3,946 11,751 d) Machinery and electronic equipment/systems 17,404 21,932 e) Furniture and furnishings - - f) Other 13,989 12,491 Total 509,228 547,849 With regard to item \u201cOwned\u201d, note the following:- The value of real estate includes the effect of the write-back to Fair Value of the assets acquired in 2015 with the establishment of the Mercury Group, as a result of the completion of the price allocation process (PPA).- The item \u201cPOS and ATM\u201d refers to assets acquired by the Group and covered by contracts with customers.- The item \u201cMachinery and electronic systems\u201d mainly includes hardware used by the Group\u2019s operating companies. The amount en-tered is net of depreciation up until the reporting date.The \u201cRights of use from lease contracts\u201d item refers to assets recognised following the application of IFRS 16.The tangible assets in progress as at 31 December amounted to Euro 48 million, consisting mainly of POSs being installed on mer-chants\u2019 premises.At the reporting date there are no restrictions as to the usage of such rights of use. Note that for some categories of assets and/or agreements the Nexi Group exercised the right to exclude contracts with a duration of less than 12 months and/or contract value worth less than Euro 5,000 (low value contracts) from IFRS 16.Note that there are no commitments already entered into in connection with the purchase of tangible fixed assets.8.3 PROPERTY AND EQUIPMENT: CHANGESMachinery POS andFurniture and electronic Dec. 31, 2024 Land Buildings ATM and Other Total equipment/furnishings systems A. Opening balance - Gross 46,328 309,418 553,750 503,840 21,912 57,521 1,492,769 A.1 Depreciation Fund (4,153) (144,820) (382,550) (366,957) (14,507) (31,932) (944,920)A.2 Net Opening balance 42,175 164,598 171,200 136,883 7,405 25,589 547,849 B. Increases - 18,362 80,526 48,146 158 9,668 156,860 B.1 Purchases - 380 75,235 27,396 153 585 103,749 B.2 Capitalised improvement costs - - - - - - -B.3 Reversals of impairment losses - - - - - - -B.4 Positive Fair Value adjustments - - - - - - -B.5 Business combination - - - - 6 - 6 B.6 Transfers from investment property - - - - - - -B.7 Other increases - 17,981 4,541 16,518 - 7,633 46,673 of which of Rights of use - 16,953 -45 4,991 - 7,493 29,392 B.8 Currency translation adjustment - - 750 4,233 - 1,450 6,433 C. Decreases 1,120 40,920 74,921 58,043 2,333 18,144 195,481 C.1 Sales - 23 387 2,552 - 42 3,004 C.2 Depreciation - 30,475 71,305 53,601 1,638 8,103 165,123 of which of Rights of use - 23,979 5,113 9,532 - 7,230 45,853 C.3 Impairment losses 1,120 1,569 - 1,081 758 - 88 2,455 C.4 Negative Fair Value adjustments - - - - - - -C.5 Business combination - - - - - - -C.6 Transfers - 2,500 - - - - 2,500 a) investment property - - - - - -b) non-current assets held for sale and - 2,500 - - - - 2,500 discontinued operationsC.7 Other decreases - 5,731 3,173 1,131 695 9,911 20,640 C.8 Currency translation adjustment - 622 1,137 - - - 1,759 D. Closing balance - Gross 45,208 316,910 627,259 524,672 21,302 56,959 1,592,311 D.1 Depreciation Fund (4,153) (174,871) (450,455) (397,686) (16,073) (39,846) (1,083,084)D.2 Net Closing balance 41,055 142,038 176,804 126,987 5,230 17,114 509,228 8.4 INVESTMENT PROPERTY: BREAKDOWN OF ASSETS MEASURED AT COSTDec. 31, 2024 Dec. 31, 2023Carrying Fair Value Carrying Fair ValueamountamountLevel 1 Level 2 Level 3 Level 1 Level 2 Level 31. Owned a) land 180 - - - 180 - - - b) buildings 950 - - - 1,024 - - - 2. Rights of use acquired through leasing a) land - - - - - - - - b) buildings - - - - - - - - Total 1,130 - 1,330 - 1,204 - 1,360 - As calculated at 31 December 2023, this item includes the property located in Monteriggioni (SI) (Via delle Frigge) owned by Nexi Pay-ments SpA, the carrying amount of which decreased due to depreciation in the year. As at the date of reference, there are no:- restrictions or limits to the sale of property or collection of rental charges;- obligations or contractual commitments, construction, development, repair or extraordinary maintenance of these properties.",
"dimensions": {
"concept": "ifrs-full:DisclosureOfPropertyPlantAndEquipmentExplanatory",
"language": "en",
"entity": "scheme:5493000P70CQRQG8SN85",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
}
},
"f0__s8__6__50": {
"value": "9. Intangible Assets9.1 INTANGIBLE ASSETS: BREAKDOWN BY TYPE OF ASSETDec. 31, 2024 Dec. 31, 2023Finite useful life Indefinite Finite useful life Indefinite useful lifeuseful lifeA.1 Goodwill 11,983,463 11,999,223 A.2 Intangible assets - Customer contracts 2,907,335 3,241,122 A.3 Other intangible assets 1,277,744 1,343,709 - internally generated assets 774,606 723,081 - externally purchased assets 495,771 610,624 - leased intangible assets 7,367 10,005 Total 4,185,079 11,983,463 4,584,831 11,999,223 Goodwill, mainly resulting from the acquisitions of the Nets Group, the SIA Group and the acquiring books by the Group\u2019s operating companies, increased in 2024 mainly due to the recognition of goodwill arising from the acquisition of the Sparkasse acquiring book (Euro 26 million includeed In the Cash Generating Units Merchant Solution), partially offset by the negative exchange rate effects on previous goodwill (Euro 42 million). As in the financial statements for the year ended 31 December 2023, the following three Cash Generating Units were identified:- Merchant Solutions;- Issuing Solutions;- Digital Banking Solutions.These CGUs correspond to the operating segments described in Section 42.",
"dimensions": {
"concept": "ifrs-full:DisclosureOfIntangibleAssetsAndGoodwillExplanatory",
"language": "en",
"entity": "scheme:5493000P70CQRQG8SN85",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
}
},
"f0__s8__6__51": {
"value": "9.3 INTANGIBLE ASSETS: IMPAIRMENT TESTINGAs required by international accounting standard IAS 36.12, the Nexi Group verified the presence of any impairment indicators with re-spect to goodwill and intangible assets with a finite useful life deriving from business combinations. With regard to intangible assets with a finite useful life, no indicators of impairment emerged. Conversely, with regard to goodwill, it was necessary to perform an impairment test because the market capitalisation of Nexi S.p.A. as at 31 December 2024 was lower than the Group's book equity. The goodwill is allocated to the following Cash Generating Units.(Amounts in million euros)Name of CGU Goodwill(*) Carrying Amount(**)Merchant Solutions 8,399 10,497 Issuing Solutions 3,413 4,424 Digital Banking Solutions 342 872 Total 12,154 15,794 (*) Goodwill expressed at 100%, including minority interests.(**) Net invested capital including goodwill As required by IAS 36, the recoverable amount of the CGUs coincides with the greater of:- Value in Use.- Fair Value less costs of disposal;The impairment test is passed if one of the two configurations (value in use or Fair Value) is higher than the carrying amount of the CGUs goodwill is allocated to.For the purposes of this impairment test, the value in use of the CGUs defined above was estimated. Indeed, the determination of the recoverable amount was based on the discounted cash flow method in its unlevered version (Discounted Cash Flow Method or \u201cDCF\u201d). Such method is based on the general concept that the value of a company is equivalent to the discounted amount of:- the cash flows it will generate within the specific forecast horizon;- residual value, i.e. the value of the income that the business is expected to generate beyond the explicit forecast period.Cash flows are discounted using the weighted average capital cost (WACC) which is the weighted average of the cost of equity and the cost of debt, after taxation. The cost of capital was estimated using a fundamental approach and then compared with the median cost of capital used by analysts (consensus). The cost of capital estimated based on fundamentals was substantially in line with the consensus median. The formula for estimating WACC is the following:EDWACC = Ke *+ Kd * (1 - t) *D + ED + Ewhere:- Ke = cost of equity;- E/(D+E) = equity as a percentage of total enterprise value (equity + net financial debt);- Kd = cost of debt capital before taxes;- t = tax rate (\u201ctax shield\u201d);- D/(D+E) = percentage of debt to total enterprise value.The cost of equity represents the expected return on investments in shares of companies in the same sector as Nexi and is calculated using the Capital Asset Pricing Model, the formula of which is as follows:Ke = Rf + \u03b2 * (Rm \u2013 Rf)where:- Rf = risk-free rate, equal to the average yield to maturity of 10-year government bonds for the last month weighted on average with respect to the countries the Group operates in for each CGU identified;- Beta = beta coefficient expressing systematic risk. This parameter was estimated based on an analysis of the betas of comparable companies;- Rm - Rf = equity risk premium, namely the additional return requested by a risk averse investor compared with the return of risk-free assets; it is equivalent to the difference between the average return of the stock market and the risk-free rate. The risk premium con-sidered is 5.95%, applicable to European companies (source: Berec BoR (24) 102).The debt cost must be considered net of the tax rate \u201ct\u201d, in order to take into account the tax shield on interest costs. This parameter was estimated based on an analysis of bond yields of comparable companies, consistent with the target financial structure assumed in the WACC calculation.For the purpose of estimating the long-term growth rate (g rate), the long-term inflation rate of the countries in which the CGUs oper-ate estimated by IMF (World Economic Outlook) as at October 2024 was used.The WACC and g rate used for the purpose of the impairment test are as follows:- CGU Merchant Solutions: wacc = 9.55% and g =2.02%.- CGU Issuing Solutions: wacc = 9.54% and g = 2.02%.- CGU Digital Banking Solutions: wacc = 9.58% and g = 1.91%.The estimate of the recoverable amount is obtained starting from the estimates of the expected results of the 2025 Budget and the 2026-2029 Projections approved by the parent company's board of directors. The Nexi Group\u2019s plan takes into account the effects of the conflict between Russia and Ukraine, relying on macroeconomic parameters of expected consumption and nominal growth provided by external sources to develop the projections.With regard to the effects of climate change, the company has already implemented projects to simplify its operating platforms and related computing centres, which include data centres and IT infrastructure. These projects not only provide economic synergies, but also reduce the company\u2019s consumption through the use of renewable energy sources and energy efficiency solutions. In fact, the Nexi Group has taken on the \u201cNet Zero by 2040\u201d challenge endorsed by the Science Based Targets initiative (SBTi), setting climate targets as early as 2030 in order to ensure compliance with the emission reduction targets of the Paris Agreement climate objectives.The recoverable value was higher than the carrying amount for all CGUs indicated above.Since the recoverable value (value in use) is determined through estimates and assumptions that may feature elements of uncertainty, sensitivity analyses were conducted \u2013 as provided for by IAS/IFRS standards \u2013 for verifying the sensitivity of the results obtained upon variation of some basic parameters and hypotheses. Specifically, it was deemed appropriate to identify changes in key parameters (also extended to the terminal value) sufficient to make the recoverable amount equal to the value of the invested capital (breakeven case).Decrease of growth Shift parallel Name of CGU WACC Increaserate (g)to decrease in EBITDAMerchant Solutions 0.51% (0.69%) (5.27%)Issuing Solutions 0.48% (0.65%) (5.14%)Digital Banking Solutions 1.83% (2.66%) (12.34%)",
"dimensions": {
"concept": "ifrs-full:DisclosureOfGoodwillExplanatory",
"language": "en",
"entity": "scheme:5493000P70CQRQG8SN85",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
}
},
"f0__s8__6__52": {
"value": "10. Tax Assets and Liabilities10.1 CURRENT TAX ASSETS AND LIABILITIESAs of 31 December 2024, the Financial Statements show Euro 16 million (in line with the balance as at 31 December 2023) related to cur-rent tax assets and Euro 64 million (Euro 38 million as of 31 December 2023) related to current tax liabilities.Current tax assets mainly consist of receivables for taxes paid abroad.Current tax liabilities include payables for the balance of the domestic tax consolidation as well as payables for Irap and taxes owed by foreign subsidiaries.Note that, in addition to the parent company Nexi SpA, the current national tax consolidation scheme involves the subsidiaries Mercury Payment Services SpA, Nexi Payments SpA, Help Line SpA, Service Hub SpA, SIApay Srl and Numera Sistemi e Informatica SpA.10.2 DEFERRED TAX ASSETS: BREAKDOWN Dec. 31, 2024 Dec. 31, 2023Deferred taxes assets - of which: recognised in equity 8,944 2,256 - of which: recognised in profit and loss 241,936 230,828 Total 250,880 233,085 Deferred tax assets amounted to Euro 251 million (233 million in December 2023) and were composed as follows:- tax recognised in Shareholders\u2019 Equity mainly arising from deferred tax assets relating to severance pay;- taxes recognised with a balancing entry in the Income Statement, mainly relating to deferred tax assets arising from the redemption of goodwill recognised in the financial statements of Nexi Payments and Nexi SpA. The item also includes deferred tax assets relating to adjustments to receivables, provisions for risks and charges, as well as the residual tax asset arising from the spin-off of certain equity investments from DEPObank SpA to Nexi, and deferred tax assets on tax losses.As at 31 December 2024 the Group had unused tax losses of Euro 312 million, of which Euro 11 million can be carried forward over 3 years and the balance in more than 3 years or without temporal limits.With regard to these tax losses, according to available estimates, deferred tax assets of Euro 52 million were recognised. The assessment of the recoverability of tax loss assets is based on the positive taxable income expected within the next three to five years.Unrecognised tax assets, for which there is no evidence of short-term use, were not recognised and amounted to Euro 18 million, cor-responding to tax losses of approximately Euro 82 million.10.2.1 Changes in Deferred Tax Assets (Recognised in Equity)Dec. 31, 2024 Dec. 31, 20231. Opening balance 2,256 2,267 2. Increases 6,847 158 2.1 Deferred tax assets recognised in the year 6,847 158 2.2 Business combination - - 2.3 Other increases - - 2.4 Currency translation adjustment - - 3. Decreases 159 169 3.1 Deferred tax assets derecognised in the year 159 169 3.2 Business combination - - 3.3 Other decreases - - 3.4 Currency translation adjustment - - 4. Closing balance 8,944 2,256 10.2.2 Changes in Deferred Tax Assets (Recognised in Profit and Loss)Dec. 31, 2024 Dec. 31, 20231. Opening balance 230,828 193,654 2. Increases 45,934 86,6112.1 Deferred tax assets recognised in the year 30,040 74,2382.2 Business combination - -2.3 Other increases 12,760 10,2472.4 Currency translation adjustment 3,135 2,1263. Decreases 34,826 49,4373.1 Deferred tax assets derecognised in the year 33,065 43,0003.2 Business combination 1,378 1,8753.3 Other decreases 167 3,7023.4 Currency translation adjustment 217 8604. Closing balance 241,936 230,828 10.3 DEFERRED TAX LIABILITIES: BREAKDOWN Dec. 31, 2024 Dec. 31, 2023Deferred tax liabilities - of which: recognised in equity 3,700 4,277 - of which: recognised in profit and loss 918,346 1,047,904 Total 922,045 1,052,181 Deferred tax liabilities amounted to Euro 922 million (Euro 1,052 million as at December 2023) and consisted mainly of deferred taxes recognised as a result of the Purchase Price Allocations, specifically of Nets and SIA completed in previous years.Specifically:- tax recognised in Shareholders\u2019 equity mainly arising from deferred tax relative to the Fair Value measurement of the Visa Shares in portfolio;- tax recognised in the Income Statement arising from temporary differences in goodwill and deferred taxes identified in the Purchase Price Allocation of the business combination transactions carried out by the Group.10.3.1 Changes in Deferred Tax Liabilities (Recognised in Equity) Dec. 31, 2024 Dec. 31, 20221. Opening balance 4,277 4,216 2. Increases 3,005 2,974 2.1 Deferred tax liabilities recognised in the year 3,005 2,974 2.2 Business combination - - 2.3 Other increases - - 2.4 Currency translation adjustment - - 3. Decreases 3,582 2,9133.1 Deferred tax liabilities derecognised in the year 3,582 2,9133.2 Business combination - - 3.3 Other decreases - -3.4 Currency translation adjustment - -4. Closing balance 3,700 4,277 10.3.2 Changes in Deferred Tax Liabilities (Recognised in the Profit and Loss) Dec. 31, 2024 Dec. 31, 20231. Opening balance 1,047,904 1,151,391 2. Increases 38,128 62,186 2.1 Deferred tax liabilities recognised in the year 9,223 33,210 2.2 Business combination 2,375 - 2.3 Other increases 26,529 23,684 2.4 Currency translation adjustment - 5,292 3. Decreases 167,686 165,673 3.1 Deferred tax liabilities derecognised in the year 153,456 158,687 3.2 Business combination - - 3.3 Other decreases 11,631 - 3.4 Currency translation adjustment 2,599 6,986 4. Closing balance 918,346 1,047,904",
"dimensions": {
"concept": "ifrs-full:DisclosureOfTaxReceivablesAndPayablesExplanatory",
"language": "en",
"entity": "scheme:5493000P70CQRQG8SN85",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
}
},
"f0__s8__6__53": {
"value": "10.2 DEFERRED TAX ASSETS: BREAKDOWN Dec. 31, 2024 Dec. 31, 2023Deferred taxes assets - of which: recognised in equity 8,944 2,256 - of which: recognised in profit and loss 241,936 230,828 Total 250,880 233,085 Deferred tax assets amounted to Euro 251 million (233 million in December 2023) and were composed as follows:- tax recognised in Shareholders\u2019 Equity mainly arising from deferred tax assets relating to severance pay;- taxes recognised with a balancing entry in the Income Statement, mainly relating to deferred tax assets arising from the redemption of goodwill recognised in the financial statements of Nexi Payments and Nexi SpA. The item also includes deferred tax assets relating to adjustments to receivables, provisions for risks and charges, as well as the residual tax asset arising from the spin-off of certain equity investments from DEPObank SpA to Nexi, and deferred tax assets on tax losses.As at 31 December 2024 the Group had unused tax losses of Euro 312 million, of which Euro 11 million can be carried forward over 3 years and the balance in more than 3 years or without temporal limits.With regard to these tax losses, according to available estimates, deferred tax assets of Euro 52 million were recognised. The assessment of the recoverability of tax loss assets is based on the positive taxable income expected within the next three to five years.Unrecognised tax assets, for which there is no evidence of short-term use, were not recognised and amounted to Euro 18 million, cor-responding to tax losses of approximately Euro 82 million.10.2.1 Changes in Deferred Tax Assets (Recognised in Equity)Dec. 31, 2024 Dec. 31, 20231. Opening balance 2,256 2,267 2. Increases 6,847 158 2.1 Deferred tax assets recognised in the year 6,847 158 2.2 Business combination - - 2.3 Other increases - - 2.4 Currency translation adjustment - - 3. Decreases 159 169 3.1 Deferred tax assets derecognised in the year 159 169 3.2 Business combination - - 3.3 Other decreases - - 3.4 Currency translation adjustment - - 4. Closing balance 8,944 2,256 10.2.2 Changes in Deferred Tax Assets (Recognised in Profit and Loss)Dec. 31, 2024 Dec. 31, 20231. Opening balance 230,828 193,654 2. Increases 45,934 86,6112.1 Deferred tax assets recognised in the year 30,040 74,2382.2 Business combination - -2.3 Other increases 12,760 10,2472.4 Currency translation adjustment 3,135 2,1263. Decreases 34,826 49,4373.1 Deferred tax assets derecognised in the year 33,065 43,0003.2 Business combination 1,378 1,8753.3 Other decreases 167 3,7023.4 Currency translation adjustment 217 8604. Closing balance 241,936 230,828 10.3 DEFERRED TAX LIABILITIES: BREAKDOWN Dec. 31, 2024 Dec. 31, 2023Deferred tax liabilities - of which: recognised in equity 3,700 4,277 - of which: recognised in profit and loss 918,346 1,047,904 Total 922,045 1,052,181 Deferred tax liabilities amounted to Euro 922 million (Euro 1,052 million as at December 2023) and consisted mainly of deferred taxes recognised as a result of the Purchase Price Allocations, specifically of Nets and SIA completed in previous years.Specifically:- tax recognised in Shareholders\u2019 equity mainly arising from deferred tax relative to the Fair Value measurement of the Visa Shares in portfolio;- tax recognised in the Income Statement arising from temporary differences in goodwill and deferred taxes identified in the Purchase Price Allocation of the business combination transactions carried out by the Group.10.3.1 Changes in Deferred Tax Liabilities (Recognised in Equity) Dec. 31, 2024 Dec. 31, 20221. Opening balance 4,277 4,216 2. Increases 3,005 2,974 2.1 Deferred tax liabilities recognised in the year 3,005 2,974 2.2 Business combination - - 2.3 Other increases - - 2.4 Currency translation adjustment - - 3. Decreases 3,582 2,9133.1 Deferred tax liabilities derecognised in the year 3,582 2,9133.2 Business combination - - 3.3 Other decreases - -3.4 Currency translation adjustment - -4. Closing balance 3,700 4,277 10.3.2 Changes in Deferred Tax Liabilities (Recognised in the Profit and Loss) Dec. 31, 2024 Dec. 31, 20231. Opening balance 1,047,904 1,151,391 2. Increases 38,128 62,186 2.1 Deferred tax liabilities recognised in the year 9,223 33,210 2.2 Business combination 2,375 - 2.3 Other increases 26,529 23,684 2.4 Currency translation adjustment - 5,292 3. Decreases 167,686 165,673 3.1 Deferred tax liabilities derecognised in the year 153,456 158,687 3.2 Business combination - - 3.3 Other decreases 11,631 - 3.4 Currency translation adjustment 2,599 6,986 4. Closing balance 918,346 1,047,904",
"dimensions": {
"concept": "ifrs-full:DisclosureOfDeferredTaxesExplanatory",
"language": "en",
"entity": "scheme:5493000P70CQRQG8SN85",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
}
},
"f0__s8__6__54-1": {
"value": "11. Non-Current Assets Held for Sale and Discontinued Operations and Liabilities Associated with Assets Held for Sale and Discontinued Operations Dec. 31, 2024 Dec. 31, 2023A. Assets held for sale A.1 Financial assets 397 362 A.2 Tangible assets 4,122 1,954 A.3 Intangible assets 176 67,838 A.4 Other assets 1,613 34,985 Total (A) 6,307 105,139 B. Liabilities associated with assets held for saleB.1 Financial liabilities 118 189 B.2 Other liabilities 753 14,585 Total (B) 871 14,774 As mentioned in the 2023 financial statements, in November 2023 Nexi signed an agreement with IN Groupe to sell the Digital Banking business in the Nordics region, referred to as the eID business. Consequently, from 31 December 2023 these assets were classified as \u201cnon-current assets held for sale\u201d. The closing took place on 31 October 2024 and consequently the related assets and liabilities were derecognised. Consequently, the item mainly includes real estate owned by Group companies in the course of disposal.33. Income (Loss) after Tax from Discontinued OperationsAs mentioned in section 11, as at 31 December 2023 assets related to Nets\u2019s eID (DBS) business were classified as non-current assets held for sale.Since these assets are separate business lines, they also fall under the definition of \u201cdiscontinued operations\u201d, and consequently, as re-quired by IFRS 5, the related economic values were reclassified under this item.Furthermore, as required by IFRS 5, the comparative consolidated income statement and the comparative comprehensive income table were restated to show discontinued operations separately from continuing operations (see also section 42). Note that intercompany transactions between continuing and discontinued operations were eliminated and are therefore not included in the figures reported here. 2024 20231. Revenues 52,066 88,374 2. Costs (46,910) (67,217)3. Valuation of disposal group and associated liabilities - - 4. Profit (Loss) from disposal (21,654) - 5. Tax and duty - - 6. Reversal of OCI from disposal (2,912) - Profit (Loss) (19,410) 21,156",
"dimensions": {
"concept": "ifrs-full:DisclosureOfNoncurrentAssetsHeldForSaleAndDiscontinuedOperationsExplanatory",
"language": "en",
"entity": "scheme:5493000P70CQRQG8SN85",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
}
},
"f0__s8__6__57": {
"value": "14. Financial Liabilities at Fair Value through Profit or Loss14.1 FINANCIAL LIABILITIES AT FVTPL: BREAKDOWNDec. 31, 2024 Dec. 31, 2023Carrying Fair Value Carrying Fair ValueamountamountLevel 1 Level 2 Level 3 Level 1 Level 2 Level 3 Financial liabilities measured at Fair Value - - - - 1,033 - 1,033 - Other financial liabilities mandatorily measured 241,492 - 240,076 1,416 245,280 - 244,591 689 at Fair Value Total 241,492 - 240,076 1,416 246,313 - 245,624 689 This item as at 31 December 2024 refers for Euro 240 million (Euro 243 million as at 31 December 2024) to the contingent considerations contractually envisaged with respect to business combination transactions, the change of which mainly reflects the accounting updates made during the period.The item also includes the Fair Value of the call option granted to Alpha Bank with respect to the sale of up to 39% of Nexi Payments Greece at a maximum strike of Euro 214 million and the derivative related to the purchase of the second tranche of Computop, at a strike of Euro 31.5 million, expired in January 2025This item is included in the Net Financial Position shown in the Management Report.",
"dimensions": {
"concept": "ifrs-full:DisclosureOfFinancialInstrumentsAtFairValueThroughProfitOrLossExplanatory",
"language": "en",
"entity": "scheme:5493000P70CQRQG8SN85",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
}
},
"f0__s8__6__58": {
"value": "15. Other Liabilities Dec. 31, 2024 Dec. 31, 2023 Tax liabilities and social security debts 55,698 88,994 Payables due to employees 216,297 155,695 Other liabilities for fees and commissions 745,837 714,796 Unsettled transactions 727,114 1,342,629 Deferred loyalty fees and other revenues 133,711 69,818 Other debts 9,236 1,201 Total 1,887,892 2,373,133 Accounts relative to e-money settlements are excluded from the calculation of the working capital, and are presented, instead, under \u201cUnsettled transactions\", above. In this regard, note that for the purpose of calculating Net Working Capital adjustments were made for non-recurring transactions, including the disposal of the Nets Dan id business unit, totalling Euro 3 million.Note that the item \u201cPayables to employees\u201d includes Euro 83 million related to redundancy incentives (Euro 5 million as at 31 De-cember 2023).The item \u201cOther liabilities for fees and commissions\u201d includes payables to suppliers and other counterparties for commercial services received.The item \u201cDeferred loyalty fees and other revenues\u201d mainly includes liabilities associated with Loyalty programmes in place, worth Euro 39.8 million, aside from the liabilities deriving from customer contracts, worth Euro 93.9 million, mainly associated with revenues invoiced in advance and one-off revenues for projects concerning the goodwill of new clients or new products.The item \u201cUnsettled transactions\u201d refers to transaction associated with different processing stages of the settlement of transactions in the first days of the following month.",
"dimensions": {
"concept": "ifrs-full:DisclosureOfOtherLiabilitiesExplanatory",
"language": "en",
"entity": "scheme:5493000P70CQRQG8SN85",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
}
},
"f0__s8__6__59": {
"value": "16. Defined Benefit Plans for Personnel Dec. 31, 2024 Dec. 31, 2023Defined benefit plan 29,696 32,000 Contribution plan - - Total 29,696 32,000 The item includes defined benefit plans in place at the Group\u2019s operating companies based on local legislation or supplementary agreements16.1 DEFINED BENEFIT PLANS FOR PERSONNEL: CHANGES Dec. 31, 2024 Dec. 31, 2023A. Opening balance 32,000 30,996 B. Increases 8,928 3,504 B.1 Accruals for the year 1,047 1,632 B.2 Other changes 7,880 1,872- Business combinations 58 21 - Other increases 7,82 2 1,852 C. Decreases 11,231 2,500 C.1 Payments 9,559 1,591 C.2 Other changes 1,672 910 - Business combinations - - - Other decreases 1,673 910 D. Closing balance 29,696 32,000 16.2 MAIN DEMOGRAPHIC AND ACTUARIAL ASSUMPTIONS USED TO MEASURE POST-EMPLOYMENTS BENEFITS: SENSITIVITY ANALYSISAssumptions Sensitivity (*) Dec. 31, 2024 Dec. 31, 2023 (0.50%) 0.50%- Discount rate da 3.18% a 3.21% da 3.08% a 3.59% 0.04 - 0.04 - Inflation rate da 2.00% al 3.00% da 2.00% al 2.20% n.d. n.d. - Turnover rate da 1.01% a 3.00% da 1.01% a 2.83% - 0.00 0.00",
"dimensions": {
"concept": "ifrs-full:DisclosureOfEmployeeBenefitsExplanatory",
"language": "en",
"entity": "scheme:5493000P70CQRQG8SN85",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
}
},
"f0__s8__6__60": {
"value": "17. Provisions for Risks and Charges17.1 PROVISIONS FOR RISKS AND CHARGES: BREAKDOWN Dec. 31, 2024 Dec. 31, 2023 1. Internal pension funds - - 2. Other provisions for risks and charges 164,202 176,409 2.1 Legal and tax disputes 105,476 107,438 2.2 Employees expenses 1,514 1,716 2.3 Other provisions 57,212 67,255 Total 164,202 176,409 The item \u201cLegal and tax disputes\u201d of Euro 105 million (Euro 107 million as at 31 December 2023) refers mainly to the provisions made for litigation and pre-litigation, including estimated legal fees, for which the risk is considered probable.The item \u201cOther provisions\u201d of Euro 57 million (Euro 67 million as at 31 December 2023) mainly refer to:a. Provision to cover contractual commitments undertaken at the time of the acquisition of the equity investment in Bassilichi amount-ing to approximately Euro 2.5 million, reduced compared to last year following a revision of the relative estimate;b. Provision to cover the cost of divesting the Bassilichi Group\u2019s non-core equity investments, amounting to Euro 1 million in line with the previous year;c. Provision to cover risks mainly related to pending disputes and other disputes related to ordinary operations amounting to approxi-mately Euro 15 million. The decrease versus the previous year (Euro 19 million) is related to uses in the period net of provisions made during the period;d. Provision for fraudulent transactions, mainly in issuing, of Euro 2.7 million, an increase compared to the previous year (Euro 1 million);e. Provision to cover charge back and other risks related to the acquiring business in the amount of approximately Euro 21 million, in line with the balance as at 31 December 2023;f. Provisions to cover risks recorded as an adjustment to the opening balances related to the merger with Nets and SIA equal to Euro 10 million, in line with the previous year;g. Provisions related to onerous contracts and contractual penalties that were substantially reduced to zero in H1 2024 (Euro 3 million as at 31 December 2023) as a result of uses in the period.17.2 PROVISIONS FOR RISKS AND CHARGES: CHANGESOther provisions Internal for risks and TotalPension fundschargesA. Opening balance - 176,409 176,409 B. Increases - 7,739 7,739 C. Business combination - (1) (1) D. Decreases for utilisation - (11,544) (11,544)E. Decreases for releases - (8,401) (8,401)F. Time value adjustment - - -G. Closing balance - 164,202 164,202",
"dimensions": {
"concept": "ifrs-full:DisclosureOfOtherProvisionsContingentLiabilitiesAndContingentAssetsExplanatory",
"language": "en",
"entity": "scheme:5493000P70CQRQG8SN85",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
}
},
"f0__s8__6__61": {
"value": "18. Shareholders\u2019 EquityThe Group equity, including the result for the year of Euro 167 million, amounted to Euro 10,957 million as at 31 December 2024, com-pared to Euro 11,297 million at the end of the previous year. The following table shows the breakdown of assets and changes from the previous year. GROUP EQUITY: BREAKDOWN Dec. 31, 2024 Dec. 31, 2023 Share capital 118,719 118,647Treasury shares (5,005) (7,013)Share premium - 11,587,260Reserves 10,841,124 713,900Valuation reserves (188,403) (132,390)Profit (Loss) for the year 167,361 (1,005,989)Equity attributable to non-controlling interests (+/-) 23,152 22,731Total Shareholders\u2019 Equity 10,956,948 11,297,146 The shares of Nexi SpA are listed in Italy (FTSE index). The Group provides itself with the necessary capital to finance its business devel-opment and operational needs; its sources of financing are a balanced mix of risk capital, contributed on a permanent basis by share-holders, and debt capital, to ensure a balanced financial structure and the minimisation of the overall cost of capital, thus benefiting all stakeholders. The debt capital is structured in different maturities to ensure adequate diversification of funding sources and efficient access to external sources of finance.The remuneration of risk capital is proposed by the Board of Directors to the Shareholders\u2019 Meeting that is convened to approve the annual financial statements, based on market trends and business performance, once all other obligations, including debt service, have been met. Therefore, in order to ensure an adequate return on capital and safeguard business continuity and development, the Group constantly monitors the evolution of the debt and the marginality of operating activities.The \u201cEquity attributable to non-controlling entities\u201d item of Euro 23 million mainly refers to minority stakes in Nexi Payments SpA (Euro 14 million), Help Line SpA (Euro 2 million) and Nexi Payments Greece (Euro 7 million).The share capital as at 31 December 2024 consisted of 1,230,192,275 ordinary shares (1,312,359,527 as at 31 December 2023), all fully paid-up and without nominal value. During the period:- 798,161 new shares were issued to service the LTI plan;- 82,947,413 treasury shares in the portfolio were cancelled.The reduction of the Share premium is related to its allocation to the legal reserve to service the buyback programme resolved during the half-year.The treasury shares in portfolio amounted to 833,058. Specifically, during the period:- 83,417,413 treasury shares were purchased as part of the buyback plan, for a market value of approximately Euro 499 million;- 82,947,413 treasury shares were cancelled for a market value of approximately Euro 499 million;- 1,170,273 treasury shares were used to service the LTI plan, for a market value of Euro 8 million;- there was an increase of 789,161 treasury shares as a result of the free capital increase indicated above, for a value equal to Euro 5 million.The item \u201cReserves\u201d increased mainly due to the effect of the aforementioned allocation of the share premium to reserves and the recognition of the effects of share-based plans (about Euro 18 million), as well as the effect of the coverage of the loss of the previous period.The change in the item \u201cValuation reserves\u201d is related primarily to the increase in the Valuation reserve related to Visa shares in portfolio, the further positive effect of the Cash Flow Hedge Reserve, partially offset by the decrease in the Conversion Reserve.The table below details reconciliation between Shareholders\u2019 equity and profits of Parent Company Nexi SpA and their corresponding value in the consolidated financial statements for Nexi Group.(Amounts in thousand euros) Shareholders\u2019 Profit/(Loss) equity for the yearBalance of accounts for Parent Company at December 31, 2024 11,370,683 (105,811)Effect of consolidation of subsidiaries (262,488) 851,464Effect of measurement at equity method (9,128) 1Other adjustments including comprehensive income (165,271) -Dividends collected in the year - (578,293)Balance of consolidated accounts at December 31, 2024 10,933,796 167,361",
"dimensions": {
"concept": "ifrs-full:DisclosureOfShareCapitalReservesAndOtherEquityInterestExplanatory",
"language": "en",
"entity": "scheme:5493000P70CQRQG8SN85",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
}
},
"f0__s8__6__62-1": {
"value": "20. Fees for Services Rendered and Commission Income 2024 2023Issuing & Acquiring fees: 4,372,185 3,933,074- fees and commissions from counterparties 4,136,918 3,138,430- fees and commissions from cardholders 235,267 794,644Revenues from services 1,825,421 1,880,486Total 6,197,606 5,813,560The item \u201cIssuing & acquiring fees\u201d item mainly consists of:- the item \u201cFees and commissions from counterparties\u201d, which includes the interchange fees recognised by the schemes, the acquiring commissions paid by merchants and the commissions for processing issuing/acquiring and servicing paid by partner banks;- the item \u201cFees and commissions from cardholders\u201d, which includes commissions debited to licensed cardholders, mainly relating to charges.The item \u201cRevenues from services\u201d mainly consists of POS and ATM rental and maintenance charges, of revenue from Digital & Corpo-rate Banking services, and revenue from activities linked to Payment Services and revenues connected with Help Desk services. Revenues from active lease contracts amount to approximately Euro 360 million.The revenue recognised, in accordance with IFRS 15 \u201cAt a point of Time\u201d mainly refers to revenue commensurate with transacted vol-umes, which at 31 December 2024 amounted to approximately Euro 4,892 million.21. Fees for Services Received and Commission Expense 2024 2023Bank charges: (2,435,097) (2,254,176)- fees due to correspondents (2,108,438) (1,912,118)- fees due to banks (326,659) (342,058)Other fees (66,681) (91,148)Total (2,501,778) (2,345,323)This item mainly comprises:- the item \u201cFees due to correspondents\u201d, mostly consisting of interchange fees and other charges debited by the schemes;- the item \u201cFees due to banks\u201d, mainly consisting of fees paid to partner banks and commissions retroceded within the framework of the master and distribution agreements in place with regard to acquiring books acquired in recent years.",
"dimensions": {
"concept": "ifrs-full:DisclosureOfFeeAndCommissionIncomeExpenseExplanatory",
"language": "en",
"entity": "scheme:5493000P70CQRQG8SN85",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
}
},
"f0__s8__6__64": {
"value": "21. Fees for Services Received and Commission Expense 2024 2023Bank charges: (2,435,097) (2,254,176)- fees due to correspondents (2,108,438) (1,912,118)- fees due to banks (326,659) (342,058)Other fees (66,681) (91,148)Total (2,501,778) (2,345,323)This item mainly comprises:- the item \u201cFees due to correspondents\u201d, mostly consisting of interchange fees and other charges debited by the schemes;- the item \u201cFees due to banks\u201d, mainly consisting of fees paid to partner banks and commissions retroceded within the framework of the master and distribution agreements in place with regard to acquiring books acquired in recent years.",
"dimensions": {
"concept": "ifrs-full:DisclosureOfInterestIncomeExplanatory",
"language": "en",
"entity": "scheme:5493000P70CQRQG8SN85",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
}
},
"f0__s8__6__65": {
"value": "23. Interest and Similar Expense 2024 2023Interest expenses related to Financial liabilities measured at amortised cost: (366,634) (329,434)- lease contracts (5,312) (6,632)- due to banks and customers (273,884) (234,689)- securities issued (87,438) (88,114)Interest expenses related to Financial liabilities at Fair Value through profit or loss: (22,245) (24,235)Differentials related to Hedging derivatives - -Interest expenses related to Other liabilities/provisions (17) (0)Other financial charges (26,277) (29,427)Total (415,173) (383,097)Interest expense mainly refers to:- recourse credit facilities attached to the factoring agreement entered in 2018 by Nexi Payments SpA, included in the item \u201cFinancial liabilities measured at amortised cost\u201d;- securities issued as described in the Directors\u2019 Report and section 38;- outstanding financing as described in the Directors\u2019 Report and section 14.1.",
"dimensions": {
"concept": "ifrs-full:DisclosureOfInterestExpenseExplanatory",
"language": "en",
"entity": "scheme:5493000P70CQRQG8SN85",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
}
},
"f0__s8__6__66-1": {
"value": "24. Gains/Losses on Hedging Activities/Financial Assets and Liabilities Measured at Fair Value with Impact on Profit or Loss/Reversal of Assets and Liabilities at Amortised Cost 2024 2023Net result of financial assets measured at FVTPL 9,437 6,260 Net result of financial liabilities measured at FVTPL 12,602 42,382Net hedging income - (426)Net result on derecognition of asset and liabilites at Amortised cost - - Total 22,039 48,216 The item mainly includes the effect of the valuation of earn-outs and outstanding equity investment derivatives.25. Dividends and Profit (Loss) from Investments and Sale of Assets at Fair Value through Other Comprehensive Income 2024 2023Dividends 2,938 516 Profit/(loss) from disposal of financial assets at FVTOCI (84,854) (86,641)Net income (81,916) (86,124)The balance of the item mainly refers to the charge deriving from the non-recourse sale by Nexi Payments SpA \u2013 as part of the factoring contract \u2013 of a significant part of the credit portfolio deriving from the exposure of credit cards. It also includes dividends distributed by the Group\u2019s investee companies, other than subsidiaries and associates, which are classified as \u201cFinancial assets at Fair Value through OCI\u201d.",
"dimensions": {
"concept": "ifrs-full:DisclosureOfFinanceIncomeExpenseExplanatory",
"language": "en",
"entity": "scheme:5493000P70CQRQG8SN85",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
}
},
"f0__s8__6__68": {
"value": "26. Administrative Expenses26.1 PERSONNEL-RELATED COSTS: BREAKDOWN 2024 20231) Employees a) wages and salaries (557,619) (553,310)b) social security charges and similar cost (128,132) (133,125)c) post-employment benefits (36,039) (35,619)- defined contribution plans (17,509) (12,910)- defined benefit plans (18,530) (22,709)d) costs of share-based payment plans (18,090) (19,642)e) other employee benefits (182,779) (32,814)2) Other personnel (22,667) (27,216)Total (945,325) (801,725)Payroll costs also include costs linked to the Stock Grant plan (guaranteed by Mercury UK) for Nexi Group employees and the costs connected with the Long-Term Incentive plan, as further detailed in Note 38.",
"dimensions": {
"concept": "ifrs-full:DisclosureOfInformationAboutEmployeesExplanatory",
"language": "en",
"entity": "scheme:5493000P70CQRQG8SN85",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
}
},
"f0__s8__6__31": {
"value": "employee benefits (182,779) (32,814)2) Other personnel (22,667) (27,216)Total (945,325) (801,725)Payroll costs also include costs linked to the Stock Grant plan (guaranteed by Mercury UK) for Nexi Group employees and the costs connected with the Long-Term Incentive plan, as further detailed in Note 38.2.Item e) Other employee benefits includes Euro 157 million for charges related to voluntary resignation plans made in the period (Euro 164 if other expenses incidental to plans are included and accounted for under other administrative expenses). Furthermore, capitalised personnel costs amounted to Euro 83 million.26.2 OTHER ADMINISTRATIVE COSTS: BREAKDOWN 2024 20231. Third-party services (376,401) (316,931)2. Lease and building management fees (16,051) (17,643)3. Insurance (8,588) (9,735)4. Rentals (*) (51,065) (49,849)5. Maintenance (120,784) (121,356)6. Shipping costs (23,066) (20,539)7. Telephone and telegraph (36,404) (33,315)8. Cards and accessories (14,320) (17,090)9. Printed matter and stationery (2,550) (2,803)10. Other taxes (33,120) (31,438)11. Legal, notary and consultancy services (121,920) (143,728)12. Agents' commissions and expense reimbursement (880) (173)13. Advertising (12,732) (11,842)14. Promotional materials and competition prizes (46,646) (41,244)15. Other commercial costs (9,964) (12,133)16. Other general expenses (225,803) (215,289)Total (1,100,292) (1,045,110)(*) The item includes software rental fees for Euro 41.6 million and short-term rental contracts or related to low value assets for Euro 9.4 million.27. Other Operating Income, Net 2024 2023Other operating income 10,368 11,467 Other operating expenses (15,329) (8,612)Total (4,961) 2,855 28. Net Value Adjustments on Assets Measured at Amortised CostImpairment losses Reversals of Impairment losses 2024 2023Stages 1 & 2 Stage 3 Stages 1 & 2 Stage 3 Total TotalA. Loans and receivables with banks - - - - 801 B. Loans and receivables with (4,930) (1,233) 817 - (5,345) (4,194)customersTotal (4,930) (1,233) 817 - (5,345) (3,393)The item refers to the net value adjustments applied to receivables due from customers mainly connected with direct issuing and ac-quiring operations carried out by the Group\u2019s operating companies.",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForEmployeeBenefitsExplanatory",
"language": "en",
"entity": "scheme:5493000P70CQRQG8SN85",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
}
},
"f0__s8__6__69": {
"value": "26.2 OTHER ADMINISTRATIVE COSTS: BREAKDOWN 2024 20231. Third-party services (376,401) (316,931)2. Lease and building management fees (16,051) (17,643)3. Insurance (8,588) (9,735)4. Rentals (*) (51,065) (49,849)5. Maintenance (120,784) (121,356)6. Shipping costs (23,066) (20,539)7. Telephone and telegraph (36,404) (33,315)8. Cards and accessories (14,320) (17,090)9. Printed matter and stationery (2,550) (2,803)10. Other taxes (33,120) (31,438)11. Legal, notary and consultancy services (121,920) (143,728)12. Agents' commissions and expense reimbursement (880) (173)13. Advertising (12,732) (11,842)14. Promotional materials and competition prizes (46,646) (41,244)15. Other commercial costs (9,964) (12,133)16. Other general expenses (225,803) (215,289)Total (1,100,292) (1,045,110)(*) The item includes software rental fees for Euro 41.6 million and short-term rental contracts or related to low value assets for Euro 9.4 million.",
"dimensions": {
"concept": "ifrs-full:DisclosureOfGeneralAndAdministrativeExpenseExplanatory",
"language": "en",
"entity": "scheme:5493000P70CQRQG8SN85",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
}
},
"f0__s8__6__70": {
"value": "27. Other Operating Income, Net 2024 2023Other operating income 10,368 11,467 Other operating expenses (15,329) (8,612)Total (4,961) 2,855",
"dimensions": {
"concept": "ifrs-full:DisclosureOfOtherOperatingIncomeExpenseExplanatory",
"language": "en",
"entity": "scheme:5493000P70CQRQG8SN85",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
}
},
"f0__s8__6__71": {
"value": "28. Net Value Adjustments on Assets Measured at Amortised CostImpairment losses Reversals of Impairment losses 2024 2023Stages 1 & 2 Stage 3 Stages 1 & 2 Stage 3 Total TotalA. Loans and receivables with banks - - - - 801 B. Loans and receivables with (4,930) (1,233) 817 - (5,345) (4,194)customersTotal (4,930) (1,233) 817 - (5,345) (3,393)The item refers to the net value adjustments applied to receivables due from customers mainly connected with direct issuing and ac-quiring operations carried out by the Group\u2019s operating companies.",
"dimensions": {
"concept": "ifrs-full:DisclosureOfAllowanceForCreditLossesExplanatory",
"language": "en",
"entity": "scheme:5493000P70CQRQG8SN85",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
}
},
"f0__s8__6__72": {
"value": "29. Net Accruals to Provisions for Risks and Charges 2024 2023Provisions for risks and charges (7,739) (66,028)Releases 8,401 17,412 Total 662 (48,616)The item reflects changes to the provision for risks and charges, to which reference is made for more details.",
"dimensions": {
"concept": "ifrs-full:DisclosureOfProvisionsExplanatory",
"language": "en",
"entity": "scheme:5493000P70CQRQG8SN85",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
}
},
"f0__s8__6__73": {
"value": "30. Impairment Losses and Reversals of Impairment Losses on Tangible and Intangible Assets 2024 2023Depreciation and net impairment loss on tangible assets (167,652) (190,608)Amortisation and net impairment loss on intangible assets (743,601) (1,961,145)Total (911,252) (2,151,752)30.1 AMORTISATION AND NET IMPAIRMENT LOSSES ON INTANGIBLE ASSETS: BREAKDOWNImpairment Reversals of AmortisationNet incomelossesimpairment lossesA. Intangible assets A.1 Owned (738,269) (2,151) - (740,419)- From acquisition (501,305) - - (501,305)- Other (236,964) (2,151) - (239,114)A.2 Rights of use acquired through leasing (3,182) - - (3,182)A.3 Intangible assets held for sale - - - - Total (741,450) (2,151) - (743,601)30.2 DEPRECIATION AND NET IMPAIRMENT LOSSES ON TANGIBLE ASSETS: BREAKDOWNThe item referred to intangible assets for acquisition relates mainly to customer contracts arising from purchase price allocation pro-cesses and software.Reversals of Depreciation Impairment lossesNet incomeimpairment lossesA. Tangible assets A.1 Owned (119,343) (2,455) - (121,798)- Property and equipment (119,270) (2,455) - (121,724)- Investment property (74) - - (74)A.2 Held under lease (45,853) - - (45,853)- Property and equipment (45,853) - - (45,853)- Investment property - - - - A.3 Tangible assets held for sale - - - - Total (165,197) (2,455) - (167,651)The heading referred to proprietary assets refers mainly to POS, ATM and electronic machinery/equipment.The item referring to leased assets, refers mainly to buildings and machinery/electronic equipment in lease",
"dimensions": {
"concept": "ifrs-full:DisclosureOfDepreciationAndAmortisationExpenseExplanatory",
"language": "en",
"entity": "scheme:5493000P70CQRQG8SN85",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
}
},
"f0__s8__6__74": {
"value": "31. Profit (Loss) from Equity Investments and Disposals of InvestmentsProfit 2024 2023Profits on equity investments Profits on sale of investments 212 1,122 Loss 563 1,345 Loss on equity investments Loss on sale of investments - (16,603)Net Result (1,545) (256)Net Result (770) (14,391)",
"dimensions": {
"concept": "ifrs-full:DisclosureOfOtherNoncurrentAssetsExplanatory",
"language": "en",
"entity": "scheme:5493000P70CQRQG8SN85",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
}
},
"f0__s8__6__75": {
"value": "32. Income Taxes 2024 2023Current taxes (337,941) (281,682)Changes in current taxes in previous years (7,694) 9,040Change in deferred tax assets 1,295 35,830 Change in deferred tax liabilities 126,856 102,482 Total (217,483) (134,331)Income taxes amounted to Euro 217 million, compared to Euro 134 million in the previous period.32.1 RECONCILIATION BETWEEN THEORETICAL TAX CHARGE AND EFFECTIVE TAX CHARGE 2024 2023Theoretical Tax rate of the Parent Company -24% 24%Difference in subsidiaries' tax rates compared with Parent Company's tax rate -13% -4%Permanent differences: not deductible cost -46% -43%Permanent differences: not taxable revenues 35% 9%Not recognised tax losses utilised or capitalised -2% -1%Currency translation adjustment 0% 1%Change in income tax rate on deferred taxes - -Prior year adjustment 0% -1%Other taxes -1% -Effective tax rate -51% -15%",
"dimensions": {
"concept": "ifrs-full:DisclosureOfIncomeTaxExplanatory",
"language": "en",
"entity": "scheme:5493000P70CQRQG8SN85",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
}
},
"f0__s8__6__77": {
"value": "34. Profit (Loss) for the Year Attributable to Non-Controlling InterestsThese are minorities mainly referring to Nexi Payments SpA for Euro 2.6 million, Nexi Payments Greece for Euro 0.8 million and Help Line SpA for Euro 0.2 million.",
"dimensions": {
"concept": "ifrs-full:DisclosureOfNoncontrollingInterestsExplanatory",
"language": "en",
"entity": "scheme:5493000P70CQRQG8SN85",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
}
},
"f0__s8__6__78": {
"value": "35. Information on Risks and Related Hedging PoliciesThe Nexi Group oversees strategic, operational, compliance and financial risks. These Notes to the Financial Statements analyse some more relevant cases of operational and financial risks. For other risks, please refer to the \u201cMain Risks and Uncertainties\u201d section of the Management Report.Risk Management at Nexi GroupThe Risk Management and Internal Control System adopted by the Nexi Group (RMICS) consists of a set of rules, procedures and or-ganisational structures aimed at the effective and efficient identification, measurement, management and monitoring of the main risks in order to contribute to the company\u2019s sustainable success.This system is integrated into the more general organisational and corporate governance structures adopted by the companies of the Nexi Group, takes into account the recommendations of the Corporate Governance Code and is inspired by current national and international best practices.The Nexi Group\u2019s Risk Management and Internal Control System is divided into three lines of defence for its companies. Specifically:- First level of control - line controls, aimed at ensuring the smooth running of operations. The operational and business structures are primarily responsible for the internal control and risk management process. In the course of day-to-day operations, these structures are called upon to identify, measure or assess, monitor, mitigate and report risks arising from ordinary business operations in accord-ance with the risk management process and applicable internal procedures.- Second level of control \u2013 risk management and regulatory compliance controls, responsible for overseeing and monitoring risks and compliance with rules and regulations through control frameworks, tools, processes and activities, enabling a Group-wide risk man-agement system.- Third level of control consisting of the controls of the Internal Audit function. This includes controls aimed at detecting violations of procedures and regulations, as well as the periodic assessment of the completeness, functionality and adequacy of the risk manage-ment and internal control system, including those on the information system (ICT Audit), at a predetermined frequency in relation to the nature and intensity of the risks. This activity is carried out by a different function that is independent of the operational functions, including through on-site audits.In the Companies of the Nexi Group, the Audit Function is placed under the direct authority of the Board of Directors and does not directly take part in the provision of the services they are required to audit.The second- and third-level Control Functions have the authority, resources and skills necessary for the performance of their tasks. These Functions may intervene in corporate activities, including those that have been outsourced, have access to all the documenta-tion necessary for the performance of their duties and, if necessary, promote the involvement of other Organisational Units concerned by any issues that may arise.The subsidiaries of Nexi SpA ensure the establishment and maintenance of an adequate and effective RMICS, implementing the Guide-lines defined by the Parent Company in compliance with the regulations applicable to each Subsidiary and Supervised Company.Nexi Group RisksLiquidity and Interest Rate RisksThe Group has significant financial indebtedness, as described in the section \u201cChanges in Group Debt\u201d. Sustainability of Nexi Group\u2019s debt level is correlated, first and foremost, to its operating results and thus to its capacity to generate sufficient liquid funds and to refi-nance debt at maturity.It is not possible to rule out that at a future date the Nexi Group may have to refinance its debt at due date or that, for whatever reason, it may have to replace its current factoring lines or other credit lines and that that may lead to higher charges and costs and/or lead to disruptions or delays in service provision also due to the required timeframe for replacement, to the extent that that may compromise Group operations.The Group is also exposed to the risk that significant changes may take place with respect to interest rates and that the policies adopted to neutralise such changes may prove inadequate. The fluctuation of interest rates depends on various factors, which are outside the Group\u2019s control, such as monetary policies, macroeconomic performance and economic and political conditions in Italy, which could also affect Nexi's creditworthiness and consequently the cost of raising financial resources on the capital market. The potential impacts of the ongoing conflicts between Russia and Ukraine and in the Middle East were not considered material for the time being, consider-ing the regions where the Group operates.After almost two years of restrictive monetary policy, in June 2024 the leaders of the European Central Bank indicated that based on an updated assessment of the inflation outlook, its dynamics and the intensity of monetary policy transmission, it was appropriate to moderate the level of monetary policy tightening after nine months of unchanged interest rates.Since June 2024 there have been four reductions in the key interest rates, bringing the interest rates on deposits with the central bank, the main refinancing operations and the marginal lending facility to 3.00%, 3.15% and 3.40% respectively. At the December 2024 meeting, the Central Bank\u2019s top management pointed out that domestic inflation has declined but remains high, mainly because wages and prices in certain sectors are still adjusting to past inflation increases with a considerable lag.The Governing Council remains determined to ensure that inflation stabilises sustainably at its medium-term target of 2%.In order to define the appropriate monetary policy stance, the Governing Council will continue to follow a data-driven approach where-by decisions are defined from time to time at each meeting. Specifically, interest rate decisions will be basedon its assessment of the inflation outlook in view of the new economic and financial data, the dynamics of core inflation and the intensity of monetary policy transmission, without tying itself to a particular interest rate path.Finally, the Governing Council confirmed that it stands ready to adapt all the instruments at its disposal within its mandate to ensure that inflation stabilises sustainably at the 2% medium-term objective and to preserve the orderly transmission of monetary policy. The protection instrument of the monetary policy transmission mechanism can be used to counter unwarranted, disorderly market dynam-ics that seriously jeopardise the transmission of monetary policy in all euro area countries, allowing the Governing Council to fulfil its mandate to preserve price stability more effectively.At 31 December 2024 approximately 26% of the Nexi Group\u2019s medium- to long-term Financial Liabilities expressed at nominal values net of the effect of rate risk hedging transactions were exposed to sources of funding at a variable interest rate, and specifically to the Euribor index. Nexi periodically monitors the forward curves of the relevant variable rates, paying particular attention to trends relating to the 1/3/6-month Euribor rate. To mitigate the risk, it carries out interest rate risk hedging operations when deemed necessary using the appropriate financial instruments. In this regard, among other things the company performs interest rate sensitivity analyses, also considering stress scenarios of the forward rate curve, in order to monitor the related exposure and analyse the impact of potential increases in borrowing costs. With respect to the liabilities exposed to interest rate risk (certain term loans corresponding to 26% of the total medium-/long-term market financial debt), at the end of 2024 the Nexi Group would have had to bear an increase in pre-tax finan-cial expenses of around Euro 16 million if the actual three- or six-month Euribor rates had been on average one percentage point higher.Also in light of the foregoing, it cannot be excluded that there may be an increase in the financial charges, with consequent significant impacts on the Nexi Group\u2019s results and prospects. Moreover, with specific reference to the Group\u2019s funding liquidity risk, while no crit-ical elements were identified as of the date of these Notes to the Financial Statements, considering the current maturity of the existing financial debt, it cannot be excluded that in the future the level of this risk may increase, even significantly, to the point of generating significant impacts on the results and prospects of the Group. Nevertheless, the Group has procedures in place to identify, monitor and manage liquidity and interest rate risk.With particular regard to Nexi Payments, the following monitoring tools were set up, among others:- a set of specific financial risk indicators, mainly aimed at containing liquidity risk by assessing and monitoring the main risk factors;- a Contingency Funding Plan with indicators (1st and 2nd level), both specific and systemic, aimed at guaranteeing the company\u2019s busi-ness continuity in the event of serious and/or prolonged liquidity crises by defining a set of actions to be taken if the thresholds set for the indicators are exceeded.BREAKDOWN OF ASSETS BETWEEN CURRENT AND NON-CURRENT(Amounts in thousand euros) Current Non-current TotalCash and cash equivalents 74,675 74,675 Financial receivables 5,237,122 - 5,237,122 Financial assets at Fair Value 39,151 80,756 119,907 Net trade receivables 674,349 674,349 Inventory 53,785 53,785 Other assets 1,319,480 17,009,693 18,329,172 Unsettled transactions 950,835 950,835 Other receivables 38,830 - 38,830 Deferred costs 245,711 9,758 255,468 Tax receivables 67,640 67,640 Current Tax assets 16,464 16,464 Deferred tax assets 250,880 250,880 Fixed assets 16,678,901 16,678,901 Equity investments 70,154 70,154 Non-current assets held for sale and discontinued operations 6,307 6,307 Total 7,404,870 17,090,449 24,495,318 Current assets are those that are intended to be realised, sold or consumed in the normal operating cycle of the Company or in the 12 months following the end of the financial year; current liabilities are those for which settlement is expected in the normal opera-ting cycle of the Company or within 12 months after the end of the financial year.BREAKDOWN OF LIABILITIES BETWEEN CURRENT AND NON-CURRENT (Amounts in thousand euros) Current Non-current TotalFinancial liabilities: Payables to: - Banks 2,459,837 2,082,062 4,541,899 - Financial entities and customers 2,180,407 99,499 2,279,906 of which Leasing liabilities 37,202 93,007 130,209 - Securities issued - 3,383,233 3,383,233 Other financial liabilities 189,339 75,319 264,659 Earn-out 179,941 60,148 240,089 Derivatives on equity investments 1,369 34 1,403 Hedging derivatives 8,029 15,138 23,167 Other financial liabilities at Fair Value - Other items of liabilities: Trade payables 745,837 745,837 Other liabilities 1,056,517 85,539 1,142,056 Tax liabilities and social security debts 55,589 55,589 Deferred loyalty fees and other revenues 101,631 32,080 133,711 Payables due to employees 162,947 53,459 216,405 Unsettled transactions 727,114 727,114 Other debts 9,236 9,236 Provisions for risks and charges 164,202 164,202 Post-employment benefits 29,696 29,696 Deferred tax liabilities 922,045 922,045 Current tax liabilities 63,967 63,967 Liabilities associated with non-current assets held for sale and 871 871 discontinued operationsTotal 6,696,775 6,841,596 13,538,371 BREAKDOWN OF FINANCIAL LIABILITIES BY RESIDUAL LIFE(Amounts in thousand euros)Within 1 year Between 1 and 5 years Over 5 years TotalFINANCIAL LIABILITIES: Payables to: - Banks 2,456,111 2,082,164 - 4,538,275 - Financial entities and customers 2,189,847 111,465 3,177 2,304,490 of which Leasing liabilities 46,549 104,973 3,177 154,699 - Securities issued - 3,476,083 - 3,476,083 Other financial liabilities 41,030 271,498 - 312,527 Total 4,686,988 5,941,210 3,177 10,631,375 Note that the table above shows the amounts to be settled at maturity.Operational RiskOperational risks relate to the execution of processes in an inefficient and/or ineffective manner, including ICT, security, legal and con-tractual risks, which could adversely affect the Company\u2019s operations and/or performance. Operational Risk Management is applied to all organisational units. Each organisational unit is thus involved in the management of operational risks related to its own activity and is responsible for the economic impacts resulting from these risks.The reliability, operational performance, integrity and continuity of the ICT infrastructure of the Nexi Group and the technological networks are crucial to the Group\u2019s business, prospects and reputation. Particularly important in the context of the ICT infrastructure in question are the merchant acquiring and card issuing platforms. The availability of such platforms and other systems and products may be compromised by damage or malfunctions to the Group\u2019s or its third-party service providers\u2019 ICT systems. Malfunctions can be caused by migrations to new technological or application environments, in the case of significant changes in the production environ-ment, or by human error, insufficient and incomplete testing, cyber-attacks, unavailability of infrastructure services (e.g. electrical or network connectivity) or natural phenomena (e.g. floods, fires or earthquakes).In line with the high degree of technological innovation of the services supplied by the Group and given the sensitive nature of opera-tions involving the management of payment data, specific policies and methods have been set in place to identify and manage IT risk (including cybersecurity risk) and specific organisational measures have been implemented under the scope of the Information Security Management System for line controls and risk management control. During 2023 ICT Key Risk Indicators were developed with refer-ence to the scope of Nexi Payments and monitored on a monthly basis in order to detect anomalies at an early stage and strengthen IT&Security controls.Other significant risks worthy of consideration are that the Group may incur liability and, therefore, may suffer damages, including to its reputation, in connection with fraudulent digital payment transactions, fraudulent loans made by merchants or other parties or fraudu-lent sales of goods or services, including fraudulent sales made by Group merchants.Examples of fraud may include the intentional use of stolen or counterfeit debit or credit cards, of payment card numbers or other cre-dentials to book sales or false transactions by merchants or other parties, the sale of counterfeit goods, the intentional failure to deliver goods or services sold under the scope of a transaction that is otherwise valid. Failure to identify thefts and the failure to effectively man-age fraud risk and prevention may increase the Group\u2019s charge-back liability or cause the Group to incur other liability, including fines and sanctions. The Group has sophisticated systems in place for transaction control and detection and suitable organisational measures to prevent fraud and control risk management.For operational risks, the risk management objective is mitigation of the impact and/or probability from a cost/benefit perspective, in line with the defined risk appetite. Nexi has adopted policies, processes and instruments to identify, manage and monitor these risks, in line with the national and international regulatory provisions and requirements and best practices in the sector.Credit RiskFor Nexi Group, credit risk mainly originates in the area of:- Acquiring activities, and specifically in the form of:- Chargeback risk: in the event of non-delivery of a product/service purchased on a prepaid basis, the cardholder may receive an ad-vance from the acquirer, who only then sees reimbursement from the merchant;- Return risk: if a cardholder decides to exercise the right of withdrawal for online purchases of products/services, the acquirer is obliged to make the refund and only then is the amount settled with the merchant;- Risk associated with non-payment of fees (i.e. Merchant Fees) in cases where Net Settlement is not applied;- Issuing activities. Nexi Group manages \"Retail\" credit cards (in the name of individuals) and \"Corporate\" credit cards (in the name of legal entities). Nexi Group debits the expenditures of credit card customers on a date that is later than the date on which the payments were made, thus establishing a receivable due from the cardholders;- Buy Now Pay Later (\u201cBNPL\u201d) activities carried out by Ratepay, where the credit risk is inherent in the type of service provided;- Processing activities, and in particular in relation to trade receivables generated by non-payment of invoices.Credit Risk Mitigation and MonitoringThe Group is committed to assessing and implementing all mitigation measures deemed necessary and/or most effective depending on the specific circumstances, based on risk-return analyses.The main mitigation measures that the Group can adopt include the following:- request for bank, insurance or cash collateral guarantees from the customer;- inclusion of contractual provisions requiring bank or insurance guarantees if the customer exceeds certain risk thresholds.Moreover, with specific reference to acquiring, we note the following:- use of net settlement to credit the merchant with the amounts due, net of commissions, chargebacks, any refunds;- deferral of payments due, depending on business model and characteristics of the merchants.In selected cases, following a risk-based analysis, the Group may also decide to reduce or terminate the relationship with the customer.Within each Legal Entity, the first-level functions are responsible for the continuous monitoring of credit risk, initiating the appropriate mitigation and/or escalation measures in the event of signs of anomalies. Moreover, the second-level Risk Management functions contribute to the definition of credit risk governance policies, ensure proper monitoring of risk performance and provide adequate information to the Corporate Bodies on the outcome of the activities carried out.The Nexi Group works very hard to estimate the current and future risk levels in the most vulnerable economic sectors, intensifying the monitoring of exposures.The consideration of potential impacts arising from the macroeconomic environment is implicit in the tools used to calculate credit risk exposure, and therefore does not require the use of dedicated tools. Moreover, the Group\u2019s customer portfolio is concentrated in regions that are currently relatively unaffected by the ongoing conflicts between Russia and Ukraine and in the Middle East, reducing their potential impact.At the date of these Notes to the Financial Statements, while faced with situations that are still potentially critical mainly stemming from macroeconomic turbulence, timely risk management, monitoring and applicable mitigation actions are effective tools in maintaining a low risk profile.More specifically, with regard to 2024 note that:- The trend of charge-back volumes received attributed to merchants was in line with 2023.- The value of total outstanding debts from merchants, gross of recoveries, was in line with the 2023 figure.- Overall, the value of outstanding amounts in the Buy Now Pay Later business was in line with the previous year.BREAKDOWN OF FINANCIAL ASSETS BY PORTFOLIO AND CREDIT QUALITY (CARRYING AMOUNTS)(Amounts in thousand euros)Non-Impaired Unimpaired Other Unlikely performing past due past due unimpaired Totalto payexposuresexposuresexposuresexposuresFinancial assets measured at amortised cost a) Loans and receivables with banks 2,729,690 2,729,690 b) Loans and receivables with financial entities 6,859 2,500,573 2,507,432 and customersHedging derivatives - - Financial assets held for sale 6,307 6,307 Total as at December 31, 2024 - 6,859 - - 5,236,570 5,243,429 Total as at December 31, 2023 - 20,070 - - 5,795,225 5,815,295 BREAKDOWN OF FINANCIAL ASSETS BY PORTFOLIO AND CREDIT QUALITY (GROSS AND NET AMOUNTS)(Amounts in thousand euros)of which:Non of which:PerformingTotalforbearanceperformingforbearanceLoans and receivables with banks Gross exposure 2,729,690 2,729,690 Bad debt provision - - Net exposure 2,729,690 - 2,729,690 Loans and receivables with financial entities and customers Gross exposure 2,503,639 65,574 2,569,213 Bad debt provision (3,066) (58,715) (61,781)Net exposure 2,500,573 6,859 2,507,432 Hedging derivatives Gross exposure - - Bad debt provision - - Net exposure - - - Non-current financial assets held for sale Gross exposure 6,307 6,307 Bad debt provision - - Net exposure 6,307 - 6,307 Total as at December 31, 2024 5,236,570 - 6,859 - 5,243,429 Total as at December 31, 2023 5,795,225 - 20,070 - 5,815,295 ON-BALANCE SHEET EXPOSURES TO CUSTOMERS AND FINANCIAL ENTITIES: TRENDS IN GROSS IMPAIRED EXPOSURES(Amounts in thousand euros)of which:Non performingforbearanceA. Initial gross exposure 61,743 - of which: transferred exposures not derecognised B. Increases 9,230 - B.1 Inflow from unimpaired exposures 429 B.2 Inflow from purchased or originated credit-impaired financial assets B.3 Transfers from other impaired exposure categories B.4 Contractual changes without derecognition B.5 Other increases 8,801 C. Decreases 5,399 - C.1 Outflows to unimpaired exposures - C.2 Write-offs 3,141 C.3 Collections 116 C.4 Profits from sales - C.5 Losses from sales 428 C.6 Transfers to other impaired exposure categories 1,628 C.7 Contractual changes without derecognition - C.8 Other decreases 86 D. Final gross exposure 65,574 - - of which: transferred exposures not derecognised ON-BALANCE SHEET IMPAIRED EXPOSURES TO CUSTOMERS AND FINANCIAL ENTITIES: TRENDS IN COMPREHENSIVE VALUE ADJUSTMENTS(Amounts in thousand euros)of which:Non performingforbearanceA. Initial gross adjustments 41,673 - of which: transferred exposures not derecognised B. Increases 22,307 - B.1 Value adjustments from purchased or originated credit-impaired financial assets - B.2 Other value adjustments - B.3 Losses from sales - B.4 Transfers from other impaired exposure categories - B.5 Contractual changes without derecognition - B.6 Other increases 22,307 C. Decreases 5,266 - C.1 Reversals of impairment losses from revaluation - C.2 Reversals of impairment losses from collections - C.3 Profits from sales - C.4 Write-offs 3,141 C.5 Transfers to other impaired exposure categories - C.7 Contractual changes without derecognition - C.8 Other decreases 2,125 D. Final gross adjustments 58,715 - - of which: transferred exposures not derecognised Market Risk (Price and Exchange Rate Risk)The Nexi Group is exposed to the risk of unfavourable movements in the price of shares in its portfolio, especially the Visa Inc. Class A and C shares, as well as negative effects on the value of said shares due to movements in the EUR/USD exchange rate. The Class C shares (convertible into Visa ordinary Class A shares at a conversion factor that varies based on the costs deriving from potential liabilities of the former Visa Europe, acquired by Visa Inc.), are also illiquid financial instruments and, as such, are characterised by possible obstacles (in law or de facto) or restrictions on divestment within a reasonable time and at fair market conditions.As at the reference date of these Notes, based on the measurement at Fair Value of the stock in the current context of the reference markets, it was deemed unnecessary to hedge the market risk described above via financial instruments.The Italian Group companies are also marginally exposed to the exchange rate risk, to the extent that the payments and collections, respectively for transactions to be paid or collected in relation to the Mastercard and Visa schemes, are mainly denominated in euros.However, note that some of the Group\u2019s foreign companies operate mainly in Northern and Central Europe, and consequently the Group is exposed to exchange rate risk arising from its operations in DKK (Danish krone), NOK (Norwegian krone), SEK (Swedish krona), PLN (Polish zloty) and CHF (Swiss franc). The risk exposure of Danish kroner is considered to be low as it is a currency that has historically seen low volatility against the euro, while for the remaining currencies mentioned the exposure is not sufficiently significant to justify the adoption of countermeasures to date.The potential impact on revenues and EBITDA from changes in the main currencies the Group is exposed to is shown below.(Amounts in million euros)2024EURm Any change in the Net Revenue EBITDAexchange rateNOK 10% 13.70 9.23SEK 10% 6.69 4.75DKK 1% 2.85 0.57PLN 10% 18.12 11.99EUR 1% - - Below are the average and spot rates used for the conversion of financial statements in other currencies for the main currencies.EUR per 100Exchange rate 2024Main currencies NOK SEK DKK PLN RSD CZK EURAverage exchange rate 8.52 8.69 13.41 23.42 0.85 3.98 1.00End of year exchange rate 8.45 8.71 13.40 23.43 0.86 3.97 1.00Change for the year -5.0% -3.5% -0.1% 1.6% 1.2% -1.7% - Climate RiskIn accordance with the recommendations of the Task Force for Climate-related Financial Disclosures (TCFD) and the European Com-mission\u2019s Non-Binding Guidelines on Climate Information Reporting, the Nexi Group assessed the risks and opportunities related to climate change in Nexi, although no risk area related to environmental aspects was identified.Climate-related risks are integrated into the company-wide risk management process and evaluated regularly through analyses cover-ing multiple time horizons \u2013 short, medium and long term \u2013 and different scenarios. The identified risks did not exceed the materiality threshold that would have determined their inclusion in ERM assessments. However, climate change risks are important to the Group given the potentially high strategic and reputational impacts such risks could have on the company and the speed with which such changes could occur.For more details on climate risk please refer to the Sustainability Reporting.",
"dimensions": {
"concept": "ifrs-full:DisclosureOfFinancialRiskManagementExplanatory",
"language": "en",
"entity": "scheme:5493000P70CQRQG8SN85",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
}
},
"f0__s8__6__79": {
"value": "Liquidity and Interest Rate RisksThe Group has significant financial indebtedness, as described in the section \u201cChanges in Group Debt\u201d. Sustainability of Nexi Group\u2019s debt level is correlated, first and foremost, to its operating results and thus to its capacity to generate sufficient liquid funds and to refi-nance debt at maturity.It is not possible to rule out that at a future date the Nexi Group may have to refinance its debt at due date or that, for whatever reason, it may have to replace its current factoring lines or other credit lines and that that may lead to higher charges and costs and/or lead to disruptions or delays in service provision also due to the required timeframe for replacement, to the extent that that may compromise Group operations.The Group is also exposed to the risk that significant changes may take place with respect to interest rates and that the policies adopted to neutralise such changes may prove inadequate. The fluctuation of interest rates depends on various factors, which are outside the Group\u2019s control, such as monetary policies, macroeconomic performance and economic and political conditions in Italy, which could also affect Nexi's creditworthiness and consequently the cost of raising financial resources on the capital market. The potential impacts of the ongoing conflicts between Russia and Ukraine and in the Middle East were not considered material for the time being, consider-ing the regions where the Group operates.After almost two years of restrictive monetary policy, in June 2024 the leaders of the European Central Bank indicated that based on an updated assessment of the inflation outlook, its dynamics and the intensity of monetary policy transmission, it was appropriate to moderate the level of monetary policy tightening after nine months of unchanged interest rates.Since June 2024 there have been four reductions in the key interest rates, bringing the interest rates on deposits with the central bank, the main refinancing operations and the marginal lending facility to 3.00%, 3.15% and 3.40% respectively. At the December 2024 meeting, the Central Bank\u2019s top management pointed out that domestic inflation has declined but remains high, mainly because wages and prices in certain sectors are still adjusting to past inflation increases with a considerable lag.The Governing Council remains determined to ensure that inflation stabilises sustainably at its medium-term target of 2%.In order to define the appropriate monetary policy stance, the Governing Council will continue to follow a data-driven approach where-by decisions are defined from time to time at each meeting. Specifically, interest rate decisions will be basedon its assessment of the inflation outlook in view of the new economic and financial data, the dynamics of core inflation and the intensity of monetary policy transmission, without tying itself to a particular interest rate path.Finally, the Governing Council confirmed that it stands ready to adapt all the instruments at its disposal within its mandate to ensure that inflation stabilises sustainably at the 2% medium-term objective and to preserve the orderly transmission of monetary policy. The protection instrument of the monetary policy transmission mechanism can be used to counter unwarranted, disorderly market dynam-ics that seriously jeopardise the transmission of monetary policy in all euro area countries, allowing the Governing Council to fulfil its mandate to preserve price stability more effectively.At 31 December 2024 approximately 26% of the Nexi Group\u2019s medium- to long-term Financial Liabilities expressed at nominal values net of the effect of rate risk hedging transactions were exposed to sources of funding at a variable interest rate, and specifically to the Euribor index. Nexi periodically monitors the forward curves of the relevant variable rates, paying particular attention to trends relating to the 1/3/6-month Euribor rate. To mitigate the risk, it carries out interest rate risk hedging operations when deemed necessary using the appropriate financial instruments. In this regard, among other things the company performs interest rate sensitivity analyses, also considering stress scenarios of the forward rate curve, in order to monitor the related exposure and analyse the impact of potential increases in borrowing costs. With respect to the liabilities exposed to interest rate risk (certain term loans corresponding to 26% of the total medium-/long-term market financial debt), at the end of 2024 the Nexi Group would have had to bear an increase in pre-tax finan-cial expenses of around Euro 16 million if the actual three- or six-month Euribor rates had been on average one percentage point higher.Also in light of the foregoing, it cannot be excluded that there may be an increase in the financial charges, with consequent significant impacts on the Nexi Group\u2019s results and prospects. Moreover, with specific reference to the Group\u2019s funding liquidity risk, while no crit-ical elements were identified as of the date of these Notes to the Financial Statements, considering the current maturity of the existing financial debt, it cannot be excluded that in the future the level of this risk may increase, even significantly, to the point of generating significant impacts on the results and prospects of the Group. Nevertheless, the Group has procedures in place to identify, monitor and manage liquidity and interest rate risk.With particular regard to Nexi Payments, the following monitoring tools were set up, among others:- a set of specific financial risk indicators, mainly aimed at containing liquidity risk by assessing and monitoring the main risk factors;- a Contingency Funding Plan with indicators (1st and 2nd level), both specific and systemic, aimed at guaranteeing the company\u2019s busi-ness continuity in the event of serious and/or prolonged liquidity crises by defining a set of actions to be taken if the thresholds set for the indicators are exceeded.BREAKDOWN OF ASSETS BETWEEN CURRENT AND NON-CURRENT(Amounts in thousand euros) Current Non-current TotalCash and cash equivalents 74,675 74,675 Financial receivables 5,237,122 - 5,237,122 Financial assets at Fair Value 39,151 80,756 119,907 Net trade receivables 674,349 674,349 Inventory 53,785 53,785 Other assets 1,319,480 17,009,693 18,329,172 Unsettled transactions 950,835 950,835 Other receivables 38,830 - 38,830 Deferred costs 245,711 9,758 255,468 Tax receivables 67,640 67,640 Current Tax assets 16,464 16,464 Deferred tax assets 250,880 250,880 Fixed assets 16,678,901 16,678,901 Equity investments 70,154 70,154 Non-current assets held for sale and discontinued operations 6,307 6,307 Total 7,404,870 17,090,449 24,495,318 Current assets are those that are intended to be realised, sold or consumed in the normal operating cycle of the Company or in the 12 months following the end of the financial year; current liabilities are those for which settlement is expected in the normal opera-ting cycle of the Company or within 12 months after the end of the financial year.BREAKDOWN OF LIABILITIES BETWEEN CURRENT AND NON-CURRENT (Amounts in thousand euros) Current Non-current TotalFinancial liabilities: Payables to: - Banks 2,459,837 2,082,062 4,541,899 - Financial entities and customers 2,180,407 99,499 2,279,906 of which Leasing liabilities 37,202 93,007 130,209 - Securities issued - 3,383,233 3,383,233 Other financial liabilities 189,339 75,319 264,659 Earn-out 179,941 60,148 240,089 Derivatives on equity investments 1,369 34 1,403 Hedging derivatives 8,029 15,138 23,167 Other financial liabilities at Fair Value - Other items of liabilities: Trade payables 745,837 745,837 Other liabilities 1,056,517 85,539 1,142,056 Tax liabilities and social security debts 55,589 55,589 Deferred loyalty fees and other revenues 101,631 32,080 133,711 Payables due to employees 162,947 53,459 216,405 Unsettled transactions 727,114 727,114 Other debts 9,236 9,236 Provisions for risks and charges 164,202 164,202 Post-employment benefits 29,696 29,696 Deferred tax liabilities 922,045 922,045 Current tax liabilities 63,967 63,967 Liabilities associated with non-current assets held for sale and 871 871 discontinued operationsTotal 6,696,775 6,841,596 13,538,371 BREAKDOWN OF FINANCIAL LIABILITIES BY RESIDUAL LIFE(Amounts in thousand euros)Within 1 year Between 1 and 5 years Over 5 years TotalFINANCIAL LIABILITIES: Payables to: - Banks 2,456,111 2,082,164 - 4,538,275 - Financial entities and customers 2,189,847 111,465 3,177 2,304,490 of which Leasing liabilities 46,549 104,973 3,177 154,699 - Securities issued - 3,476,083 - 3,476,083 Other financial liabilities 41,030 271,498 - 312,527 Total 4,686,988 5,941,210 3,177 10,631,375 Note that the table above shows the amounts to be settled at maturity.",
"dimensions": {
"concept": "ifrs-full:DisclosureOfLiquidityRiskExplanatory",
"language": "en",
"entity": "scheme:5493000P70CQRQG8SN85",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
}
},
"f0__s8__6__80": {
"value": "Credit RiskFor Nexi Group, credit risk mainly originates in the area of:- Acquiring activities, and specifically in the form of:- Chargeback risk: in the event of non-delivery of a product/service purchased on a prepaid basis, the cardholder may receive an ad-vance from the acquirer, who only then sees reimbursement from the merchant;- Return risk: if a cardholder decides to exercise the right of withdrawal for online purchases of products/services, the acquirer is obliged to make the refund and only then is the amount settled with the merchant;- Risk associated with non-payment of fees (i.e. Merchant Fees) in cases where Net Settlement is not applied;- Issuing activities. Nexi Group manages \"Retail\" credit cards (in the name of individuals) and \"Corporate\" credit cards (in the name of legal entities). Nexi Group debits the expenditures of credit card customers on a date that is later than the date on which the payments were made, thus establishing a receivable due from the cardholders;- Buy Now Pay Later (\u201cBNPL\u201d) activities carried out by Ratepay, where the credit risk is inherent in the type of service provided;- Processing activities, and in particular in relation to trade receivables generated by non-payment of invoices.Credit Risk Mitigation and MonitoringThe Group is committed to assessing and implementing all mitigation measures deemed necessary and/or most effective depending on the specific circumstances, based on risk-return analyses.The main mitigation measures that the Group can adopt include the following:- request for bank, insurance or cash collateral guarantees from the customer;- inclusion of contractual provisions requiring bank or insurance guarantees if the customer exceeds certain risk thresholds.Moreover, with specific reference to acquiring, we note the following:- use of net settlement to credit the merchant with the amounts due, net of commissions, chargebacks, any refunds;- deferral of payments due, depending on business model and characteristics of the merchants.In selected cases, following a risk-based analysis, the Group may also decide to reduce or terminate the relationship with the customer.Within each Legal Entity, the first-level functions are responsible for the continuous monitoring of credit risk, initiating the appropriate mitigation and/or escalation measures in the event of signs of anomalies. Moreover, the second-level Risk Management functions contribute to the definition of credit risk governance policies, ensure proper monitoring of risk performance and provide adequate information to the Corporate Bodies on the outcome of the activities carried out.The Nexi Group works very hard to estimate the current and future risk levels in the most vulnerable economic sectors, intensifying the monitoring of exposures.The consideration of potential impacts arising from the macroeconomic environment is implicit in the tools used to calculate credit risk exposure, and therefore does not require the use of dedicated tools. Moreover, the Group\u2019s customer portfolio is concentrated in regions that are currently relatively unaffected by the ongoing conflicts between Russia and Ukraine and in the Middle East, reducing their potential impact.At the date of these Notes to the Financial Statements, while faced with situations that are still potentially critical mainly stemming from macroeconomic turbulence, timely risk management, monitoring and applicable mitigation actions are effective tools in maintaining a low risk profile.More specifically, with regard to 2024 note that:- The trend of charge-back volumes received attributed to merchants was in line with 2023.- The value of total outstanding debts from merchants, gross of recoveries, was in line with the 2023 figure.- Overall, the value of outstanding amounts in the Buy Now Pay Later business was in line with the previous year.BREAKDOWN OF FINANCIAL ASSETS BY PORTFOLIO AND CREDIT QUALITY (CARRYING AMOUNTS)(Amounts in thousand euros)Non-Impaired Unimpaired Other Unlikely performing past due past due unimpaired Totalto payexposuresexposuresexposuresexposuresFinancial assets measured at amortised cost a) Loans and receivables with banks 2,729,690 2,729,690 b) Loans and receivables with financial entities 6,859 2,500,573 2,507,432 and customersHedging derivatives - - Financial assets held for sale 6,307 6,307 Total as at December 31, 2024 - 6,859 - - 5,236,570 5,243,429 Total as at December 31, 2023 - 20,070 - - 5,795,225 5,815,295 BREAKDOWN OF FINANCIAL ASSETS BY PORTFOLIO AND CREDIT QUALITY (GROSS AND NET AMOUNTS)(Amounts in thousand euros)of which:Non of which:PerformingTotalforbearanceperformingforbearanceLoans and receivables with banks Gross exposure 2,729,690 2,729,690 Bad debt provision - - Net exposure 2,729,690 - 2,729,690 Loans and receivables with financial entities and customers Gross exposure 2,503,639 65,574 2,569,213 Bad debt provision (3,066) (58,715) (61,781)Net exposure 2,500,573 6,859 2,507,432 Hedging derivatives Gross exposure - - Bad debt provision - - Net exposure - - - Non-current financial assets held for sale Gross exposure 6,307 6,307 Bad debt provision - - Net exposure 6,307 - 6,307 Total as at December 31, 2024 5,236,570 - 6,859 - 5,243,429 Total as at December 31, 2023 5,795,225 - 20,070 - 5,815,295 ON-BALANCE SHEET EXPOSURES TO CUSTOMERS AND FINANCIAL ENTITIES: TRENDS IN GROSS IMPAIRED EXPOSURES(Amounts in thousand euros)of which:Non performingforbearanceA. Initial gross exposure 61,743 - of which: transferred exposures not derecognised",
"dimensions": {
"concept": "ifrs-full:DisclosureOfCreditRiskExplanatory",
"language": "en",
"entity": "scheme:5493000P70CQRQG8SN85",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
}
},
"f0__s8__6__81": {
"value": "B. Increases 9,230 - B.1 Inflow from unimpaired exposures 429 B.2 Inflow from purchased or originated credit-impaired financial assets B.3 Transfers from other impaired exposure categories B.4 Contractual changes without derecognition B.5 Other increases 8,801 C. Decreases 5,399 - C.1 Outflows to unimpaired exposures - C.2 Write-offs 3,141 C.3 Collections 116 C.4 Profits from sales - C.5 Losses from sales 428 C.6 Transfers to other impaired exposure categories 1,628 C.7 Contractual changes without derecognition - C.8 Other decreases 86 D. Final gross exposure 65,574 - - of which: transferred exposures not derecognised ON-BALANCE SHEET IMPAIRED EXPOSURES TO CUSTOMERS AND FINANCIAL ENTITIES: TRENDS IN COMPREHENSIVE VALUE ADJUSTMENTS(Amounts in thousand euros)of which:Non performingforbearanceA. Initial gross adjustments 41,673 - of which: transferred exposures not derecognised B. Increases 22,307 - B.1 Value adjustments from purchased or originated credit-impaired financial assets - B.2 Other value adjustments - B.3 Losses from sales - B.4 Transfers from other impaired exposure categories - B.5 Contractual changes without derecognition - B.6 Other increases 22,307 C. Decreases 5,266 - C.1 Reversals of impairment losses from revaluation - C.2 Reversals of impairment losses from collections - C.3 Profits from sales - C.4 Write-offs 3,141 C.5 Transfers to other impaired exposure categories - C.7 Contractual changes without derecognition - C.8 Other decreases 2,125 D. Final gross adjustments 58,715 - - of which: transferred exposures not derecognised Market Risk (Price and Exchange Rate Risk)The Nexi Group is exposed to the risk of unfavourable movements in the price of shares in its portfolio, especially the Visa Inc. Class A and C shares, as well as negative effects on the value of said shares due to movements in the EUR/USD exchange rate. The Class C shares (convertible into Visa ordinary Class A shares at a conversion factor that varies based on the costs deriving from potential liabilities of the former Visa Europe, acquired by Visa Inc.), are also illiquid financial instruments and, as such, are characterised by possible obstacles (in law or de facto) or restrictions on divestment within a reasonable time and at fair market conditions.As at the reference date of these Notes, based on the measurement at Fair Value of the stock in the current context of the reference markets, it was deemed unnecessary to hedge the market risk described above via financial instruments.The Italian Group companies are also marginally exposed to the exchange rate risk, to the extent that the payments and collections, respectively for transactions to be paid or collected in relation to the Mastercard and Visa schemes, are mainly denominated in euros.However, note that some of the Group\u2019s foreign companies operate mainly in Northern and Central Europe, and consequently the Group is exposed to exchange rate risk arising from its operations in DKK (Danish krone), NOK (Norwegian krone), SEK (Swedish krona), PLN (Polish zloty) and CHF (Swiss franc). The risk exposure of Danish kroner is considered to be low as it is a currency that has historically seen low volatility against the euro, while for the remaining currencies mentioned the exposure is not sufficiently significant to justify the adoption of countermeasures to date.The potential impact on revenues and EBITDA from changes in the main currencies the Group is exposed to is shown below.(Amounts in million euros)2024EURm Any change in the Net Revenue EBITDAexchange rateNOK 10% 13.70 9.23SEK 10% 6.69 4.75DKK 1% 2.85 0.57PLN 10% 18.12 11.99EUR 1% - - Below are the average and spot rates used for the conversion of financial statements in other currencies for the main currencies.EUR per 100Exchange rate 2024Main currencies NOK SEK DKK PLN RSD CZK EURAverage exchange rate 8.52 8.69 13.41 23.42 0.85 3.98 1.00End of year exchange rate 8.45 8.71 13.40 23.43 0.86 3.97 1.00Change for the year -5.0% -3.5% -0.1% 1.6% 1.2% -1.7% - Climate RiskIn accordance with the recommendations of the Task Force for Climate-related Financial Disclosures (TCFD) and the European Com-mission\u2019s Non-Binding Guidelines on Climate Information Reporting, the Nexi Group assessed the risks and opportunities related to climate change in Nexi, although no risk area related to environmental aspects was identified.Climate-related risks are integrated into the company-wide risk management process and evaluated regularly through analyses cover-ing multiple time horizons \u2013 short, medium and long term \u2013 and different scenarios. The identified risks did not exceed the materiality threshold that would have determined their inclusion in ERM assessments. However, climate change risks are important to the Group given the potentially high strategic and reputational impacts such risks could have on the company and the speed with which such changes could occur.For more details on climate risk please refer to the Sustainability Reporting.",
"dimensions": {
"concept": "ifrs-full:DisclosureOfMarketRiskExplanatory",
"language": "en",
"entity": "scheme:5493000P70CQRQG8SN85",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
}
},
"f0__s8__6__82": {
"value": "36. Statement of Comprehensive Income(Amounts in thousand euros)2024 2023Profit (Loss) for the year 171,040 (1,002,761)Items that will not be reclassified subsequently to profit or loss Financial assets measured at FVTOCI a) Fair Value changes 18,019 19,629b) transfers to other equity components Defined benefit plans (7,536) (1,492)Income taxes related to high income components without profit and loss reversal (328) 499Items that will be reclassified subsequently to profit or loss Conversion reserve a) Fair Value changes (43,792) 23,802b) income statement reversal c) other changes Cash flow hedges: a) fair value variances 6,600 (23,135)b) income statement reversal c) other variances Income taxes related to high income components with profit and loss reversal - -Other comprehensive income (net of tax) (27,037) 19,303Comprehensive income 144,003 (983,458)Comprehensive income attributable to non-controlling interests 3,731 3,357Comprehensive income attributable to the owners of the parent 140,272 (986,815)",
"dimensions": {
"concept": "ifrs-full:DisclosureOfAnalysisOfOtherComprehensiveIncomeByItemExplanatory",
"language": "en",
"entity": "scheme:5493000P70CQRQG8SN85",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
}
},
"f0__s8__6__83": {
"value": "37. Related Parties The purpose of IAS 24 (Related party disclosure) is to make sure that the financial statements of an entity contain the additional in-formation necessary to highlight the possibility that the equity-financial position and economic results may have been altered by the existence of related parties and transactions and balances applicable with said parties.In accordance with these indications, applied to the organisational and governance structure of the Nexi Group, the following are con-sidered as related parties:a) parties that directly or indirectly, de jure or de facto, including through subsidiaries, trusts or intermediaries, exercise significant influ-ence over Nexi; note that these parties include Bain Capital Investors LP, Advent International Corporation, Hellman & Friedman LLC, Cassa Depositi e Prestiti and its direct parent company represented by the MEF (Italian Ministry of Finance);b) the subsidiaries or entities under the joint control of the entities listed at the point above;c) the subsidiaries, associates or entities under the joint control of Nexi SpA;d) key management personnel of the Nexi Group and its direct Parent Company and its subsidiaries, entities under its joint control or subject to its significant influence;e) close family members of the natural persons included under letters a) and d) above;f) the complementary pension fund established in favour of employees of Nexi SpA or its related entities.37.1 INFORMATION ON THE REMUNERATION OF KEY MANAGEMENT PERSONNELBelow are the fees due in the reference period to the directors and managers and key management personnel.(Amounts in thousand euros)Board ofExecutives holding Directors Statutory Auditorsstrategic responsibilityCorporate bodies remunerations 1,504 536 - Short-term benefits - - 5,634 Benefits subsequent to the termination of employment - - 377 Other long-term benefits - - - Indemnities for termination of employment - - - Total 1,504 536 6,011 37.2 INFORMATION ON RELATED-PARTY TRANSACTIONSThe effects of transactions with related parties, over and above the fees described above, are summarised in the table below:(Amounts in thousand euros)Directors, Executives and Controlling company Other related partiesother Supervisory BodiesFinancial asset measured at amortised cost 260,229 - Financial asset at Fair Value 600 - Tangible assets - - Intangible assets 4,756 - Other assets 67,084 1 Financial liabilities measured at amortised cost 162,969 - Other liabilities 17,912 - Fees for services rendered and commission income 181,315 3 Fees for services received and commission expense 5,436 - Interest and similar incomne 40 - Interest and similar expense 767 - Other administrative expenses 30,422 - Other operating income/expenses 4 - Credit and debit balances with related parties as of 31 December 2024 were not material with respect to the size of the Group\u2019s balance sheet. Likewise, the impact of income and expenses with related parties on the consolidated operating result was not material, nor was the impact of these transactions on the Group\u2019s cash flows.The main contracts, all of which falling within ordinary operations, mainly refer to financing received from and services provided by related parties (especially consulting services, software development and card production) and services provided related to the ordi-nary business carried out by the Group, regulated by conditions in line with market conditions and in any case based on assessments of mutual economic convenience.",
"dimensions": {
"concept": "ifrs-full:DisclosureOfRelatedPartyExplanatory",
"language": "en",
"entity": "scheme:5493000P70CQRQG8SN85",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
}
},
"f0__s8__6__84": {
"value": "38. Share-Based Payments 38.1 STOCK GRANTMercury UK HoldCo Ltd (\u201cMercury UK\u201d) in 2019 adopted two incentive plans (the \u201cPlans\u201d), based on the shares of Nexi SpA (\u201cNexi\u201d), which ended in 2021.In addition, during 2020, 2021 and 2023, Mercury UK together with other financial sponsors of Nexi adopted some new incentive plans based on the shares of Nexi SpA (\u201cNexi\u201d) and with a vesting period until 16 April 2022, 31 December 2022, 1 July 2024 and 30 June 2025. These plans are reserved for selected employees (the \u201cBeneficiaries\u201d) of Group companies. These plans provide for Additional Shares assignable to employees depending on the market price of Nexi shares.On the basis of the provisions of IFRS 2, although not having made any commitments to Beneficiaries, as the Nexi Group is the entity that receives the services (the \u201creceiving entity\u201d), it must book, in its consolidated financial statements, the Plans in question on the basis of the accounting rules envisaged for the \u201cplans settled with equity instruments\u201d.More specifically, IFRS 2 establishes that, in the plans settled with equity instruments with employees, the entity must:- measure the cost for the services it has received on the basis of the Fair Value of the representative instruments as at the assignment date;- book the Fair Value of the services received, throughout the accrual period, making a counter-entry as an increase in Equity on the basis of the best estimate available of the number of equity instruments expected to accrue;- review this estimate, if the subsequent information indicates that the number of equity instruments to be accrued differs from previous estimates.For these Plans, Fair Value was determined, for base shares, considering the forward price, discounted at the valuation date, of Nexi shares at the expiry of the vesting period. As for additional shares, the Monte Carlo method was adopted in order to simulate, for an adequate number of scenarios, the number of additional shares and the price of Nexi stocks. In this context, the implicit volatility used was that obtained from info-providers as relevant to Nexi stock options with time-to-maturity set at equal to that of the plan.Below are the changes in the rights (conventionally measured in terms of the number of based shares) relating to the aforementioned plans:Description Number of Based sharesOutstanding rights to receive shares at the grant date 11,126,772Rights assigned definitively in accordance with the Plans (10,160,214)Rights forfeited from the Plans (443,682)Outstanding rights at December 31, 2024 522,876 Based on the above, the overall cost of the Plans for 2024 is about Euro 4 million.38.2 LONG TERM INCENTIVESIn 2019 a medium- to long-term incentive plan (hereinafter the First LTI Plan) was approved, implementing the remuneration policy adopted by the Company. The Plan was structured into three cycles, each with a three-year duration (2019-2021/2020-2022/2021-2023) and envisaged the assignment of rights to receive ordinary shares in the Company once a year. These shares are not subject to any restrictions to voting rights or dividend distribution.In 2022 the Shareholders\u2019 Meeting of Nexi Spa approved a Second Long-Term Incentive Plan (hereinafter referred to as the Second LTI Plan). In keeping with the First LTI Plan, this second plan envisages the free assignment of a number of incentives to selected employees over a medium-long-term time horizon, divided into three three-year cycles (2022-2024, 2023-2025 and 2024-2026). All three cycles of this Plan have already been allocated.These plans, according to the provision of IFRS 2 described above with reference to the Stock Plan, must be accounted for as a transac-tion with employees to be settled with equity instruments of the entity.As of the date of these financial statements, assignments had been completed for all three cycles of the First LTI Plan for which the vesting period ended on 31 December 2024, and all three cycles of the Second LTI Plan for which the vesting period ends on 31 December 2026.More specifically, the process of assigning the rights to receive shares was carried out as follows:- First tranche (First Plan): for most of the employees, in July 2019, and for new hires, on 30 September 2019;- Second tranche (First Plan): for most of the employees, in July 2020, and for new hires, on 30 September 2020;- Third tranche (First Plan): for most of the employees, in July 2021, and for new hires, in October 2021. With regard to this tranche, there was also the allocation in January 2022 to former SIA employees;- First tranche (Second Plan): for most of the employees, in July 2022, and for new hires, in October 2022;- Second tranche (Second Plan): in October 2023;- Third tranche (Second Plan): for most of the employees, in August 2024, and for new hires, in October 2024.These dates are the grant dates for the purpose of IFRS 2.The rights to be assigned in the context of the LTI plan are divided up into:- Performance Share Rights, i.e. the rights to receive ordinary shares in the Company, which accrue (and the same applies to the attri-bution of the related shares to the employee) only upon achieving predetermined business performance objectives, referring to a specific period of time;- Restricted Share Rights, i.e. the rights to receive ordinary shares in the Company, which accrue (and the same applies to the attribution of the related shares to the employee) regardless of whether or not the predetermined business performance objectives are achieved. These rights will accrue after the vesting period, subject to the beneficiary remaining in the Company.A condition for the accrual of the rights and, therefore, the attribution of the shares for both the types described above is that the em-ployee remains in service until the delivery date of the share attribution letter.More specifically, with reference to Performance Share Rights:- accrual is first and foremost subject to achieving - at the end of the vesting period of each Cycle - at least 80% of the Operating Cash Flow Target (the \u201cEntry Gate\u201d);- once the Entry Gate is satisfied, accrual of Performance Shares Rights is also subject to achieving specific objectives at the end of the related vesting period, comprising two components:- a market-based component, linked to the achievement of objectives related to the performance of the market price of Nexi shares with respect to a benchmark, during the measurement period (weighing for 50%). The benchmark is determined as the mathematical average of three market indicators identified in the Plan regulation;- a non-market-based component, linked to the achievement of the Company\u2019s performance objectives in terms of Operating Cash Flow (weighing for 50%).Changes in the number of rights assigned at the reporting date are reported below:No. of PerformanceNo. of Restricted DescriptionTotal Share Rights Share Rights Outstanding rights to receive shares at the grant date 6,083,958 3,595,480 9,679,438Right assigned definitively in accordance with the Plans (379,503) 92,633 (286,870)Rights forfeited from the Plans (496,404) (402,810) (899,214)Outstanding rights at December 31, 2024 5,208,051 3,285,303 8,493,354The rights assigned were measured, reflecting the financial market conditions valid as at the grant date. Determination of the total plan value, as established by IFRS 2, is impacted by the number of rights that will accrue in accordance with the rules set out by the perfor-mance and Fair Value conditions of each right. Measurement was carried out considering the two components of the Performance Shares and Restricted Shares included in the plan, separately. Moreover, within the Performance Share component, consideration was given to the presence of the aforesaid specific objectives.More specifically, the market-based component was estimated using the Monte Carlo Method, a stochastic simulation technique which, based on a set of starting conditions, produced a wide array of outcomes within a specified time horizon. More specifically, for each outcome scenario, share price projections are computed as of the initial value according to geometric Brownian motion. In this case it is:and that is the change in the price of the share S over a period of time depends on the expected average change (u) and its variability (s) as well as on a random parameter (e) with standardised normal distribution.The simulations were carried out by assuming a rate of return on the Nexi share calculated using the swap curve and a historical volatility of the share calculated with reference to the valuation date. Specifically, for the cycle assigned in 2024 these parameters respectively stand at around 2.4% and 36%.For these components, with regard to the rights assigned during 2024 the unit value at the grant date was approximately Euro 4.17 and Euro 4.61.As for the likelihood of beneficiaries leaving, the annual exit probability was assumed to be zero. In accordance with IFRS 2, the non-market-based component is a condition that rather than be measured at the time of assignment is to be updated periodically at each reporting date, so as to take into account the expectations in relation to the number of rights that may accrue. For this component, with regard to the rights assigned in 2024, the Fair Value per unit is Euro 5.48 and Euro 5.91.The total cost pertaining to 2024 is approximately Euro 14 million.",
"dimensions": {
"concept": "ifrs-full:DisclosureOfSharebasedPaymentArrangementsExplanatory",
"language": "en",
"entity": "scheme:5493000P70CQRQG8SN85",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
}
},
"f0__s8__6__85": {
"value": "39. Business Combination Transactions39.1 TRANSACTIONS CARRIED OUT DURING THE PERIODBelow are the transactions carried out during the period that, falling within the definition of business combinations, have been account-ed for in accordance with the provisions of IFRS 3: Business Combinations. Specifically, the latter defines a business combination as \u201ca transaction or other event in which an acquirer obtains control of one or more businesses\u201d and states that any assets acquired (including any intangible assets not featured in the acquiree\u2019s statements at the date of acquisition) and any liabilities assumed or contingent are subject to Fair Value consolidation as at the acquisition date, also calculating the value of the minority interests of the entity acquired, and that the same applies for measurement at goodwill of the difference between the Fair Value of the net assets acquired and the con-siderations transferred during the transaction.Acquisition of Merchant Acquiring Activities from SparkasseThe acquisition of the merchant acquiring business from the Sparkasse Group, which was signed on 29 December 2023, was completed during H1 2024. Specifically:- on 27 May 2024, the transfer of the business units of Sparkasse and Civibank to Nexi Payments was signed, valid from 1 June 2024, against the issue of new shares in Nexi Payments.- on 31 May 2024, on the other hand, the deed of transfer of the aforementioned shares of Nexi Payments from the two Banks to Nexi SpA was signed, also valid from 1 June 2024, against payment of the agreed price of Euro 30,850 million. This consideration may in-crease in the event of the payment of an earn out, the payment of which is conditional upon the achievement of certain economic and qualitative targets. The Purchase Price Allocation process was completed and included in the financial statements as at 31 December 2024, as also permitted by the IFRS 3 international accounting standard.Specifically, the price allocation process mainly concerned the valuation of customer contracts, the Fair Value of which was determined using the Multi-Period Excess Earnings method (MPEEM), which calculates the value of customer relationships based on the present value at the acquisition date of the extra-earnings over the remaining life of the customer relationships. The extra-income from custom-er relationships is derived from total income minus income from other assets (so-called contributory assets). The cost connected to this business combination in 2024 amount to Euro 1 million.Following an accounting for the effects of the Purchase Price Allocation, the goodwill arising from said business combination totals about Euro 26 million broken down as follows:(Amounts in thousand euros) Provisional Fair Value Adjustments Final Fair ValueCash consideration paid 30,850 - 30,850Contingent consideration/deferred price - - -Minority interests (156) 24 (132)Cash and cash equivalents Tangible assets 5 - 5Intangible assets 7,182 7,182 Provision for risk and charges (1) - (1)Defined Benefit Plans (0) - (0)()*Other liabilities(3) (2,375) (2,379)Net assets - 4,807 4,807Goodwill 30,694 (4,783) 25,911Cash consideration 30,850 - 30,850Cash acquired - - -Net cash consideration 30,850 - 30,850(*) The Item Includes also tax liabilities.39.2 RETROSPECTIVE ADJUSTMENTS No retrospective adjustments were made in 2024.39. 3 OTHER INFORMATIONThere are no other information.39.4 TRANSACTIONS AFTER THE REPORTING PERIODThere are no transactions to report.",
"dimensions": {
"concept": "ifrs-full:DisclosureOfBusinessCombinationsExplanatory",
"language": "en",
"entity": "scheme:5493000P70CQRQG8SN85",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
}
},
"f0__s8__6__86": {
"value": "40. Group Funding Transactions As shown in the Management Report, the Group\u2019s financial structure changed significantly during the year.The following is a summary of the accounting impacts deriving from the repayment transactions executed during the year ended 31 December 2024. See the Management Report for the Group's Net Financial Position. Repayment of financial debt instruments at maturityDuring 2024 several repayment operations were carried out at the maturity of various debt instruments that allowed an improvement in the Group\u2019s financial structure. Specifically: - On 8 April the bond loan issued by Nassa Topco AS in the amount of Euro 220 million (the \u201cNassa Topco Bond Loan\u201d) was repaid in full.- On 31 October the bond loan issued by Nexi SpA in the amount of Euro 476 million (the \u201c2024 Bond Loan\u201d) was repaid in full.- On 16 December the first instalment of the loan with Banco BPM SpA in the amount of Euro 60 million (the \u201cBBPM Credit Line\u201d) was repaid. The second instalment is to be repaid on 15 December 2025 in the amount of Euro 140 million.EIB credit lineOn 25 September 2024 Nexi SpA signed a loan agreement (the \u201cEIB Loan Agreement\u201d) pursuant to which the European Investment Bank granted Nexi SpA an amortising credit line for an original total amount of Euro 220 million (the \u201cEIB Credit Line\u201d), in order to finance cer-tain projects for the modernisation of digital payments in Europe. The duration of the loan and its repayment instalments will be defined at the time of disbursement. As at 31 December 2024, the EIB Credit Line was fully unused and available. As of the date of publication of these financial statements, the EIB Credit Line was partially drawn for an amount of Euro 202.2 million, to be repaid according to a repayment schedule with a final maturity date of 7 January 2033.Covenants and other guarantees linked to funding transactionsIn line with financing transactions of a similar complexity and nature, the Nexi Group\u2019s financial indebtedness is characterised by clauses containing commitments, limitations (including negative pledge clauses) and restrictions, representations and warranties, as well as cases of early repayment (in whole or in part), and events of default linked to contractual breaches. Obligations primarily include:- financial maintenance covenant: at each \u201ctest date\u201d (i.e. 30 June and 31 December of each year), respect for a financial leverage ratio at a consolidated level (essentially the \u201cleverage ratio\u201d, the ratio of net debt and consolidated LTM \u2013 last twelve months \u2013 EBITDA), that will be tested with respect to the consolidated financial statements and consolidated interim reports and must not exceed the specific periodic thresholds indicated in the contracts of the IPO Loan, the Term Loan of the BBPM Credit Line, the BPER Credit Line, the 2022 Term Loan and the EIB Credit Line;- negative pledge: Nexi SpA must abstain from establishing or allowing for the maintenance of (and must ensure that no other member of the Nexi Group establishes or maintains) liens or collateral against its assets, with the exception of certain guarantees and restric-tions that are expressly permitted;- prohibition against dispositive actions related to assets (sales, leases, transfers or other dispositive actions), except as expressly permit-ted under the relevant contracts.Note that as at 31 December 2024 all the obligations envisaged in the loan agreements described above have been met.",
"dimensions": {
"concept": "ifrs-full:DisclosureOfBorrowingsExplanatory",
"language": "en",
"entity": "scheme:5493000P70CQRQG8SN85",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
}
},
"f0__s8__6__87": {
"value": "41. Result per Share The share capital of Nexi SpA is made up entirely of ordinary shares.The indicator \u201cEarnings per share\u201d (or \u201cEPS\u201d) is presented on both basic and diluted basis: the basic EPS is calculated by considering the ratio of profit theoretically attributable to shareholders to the weighted average of the shares issued, whilst the diluted EPS also takes into account the effects of any future issues.Furthermore, as envisaged by IAS 33, below are details of earnings per share, deriving from the result of the continuing and discontinued operations:BASIC EARNINGS PER SHARE 2024 2023Profit/(Loss) from continuing operations attributable to the company's ordinary shares 0.15 (0.78)Income/(Loss) after tax from discontinued operations (0.02) 0.02Total Basic result per share attributable to the company's ordinary shares 0.13 (0.76)DILUTED EARNINGS PER SHARE 2024 2023Profit/(Loss) from continuing operations attributable to the company's ordinary shares 0.14 (0.74)Income/(Loss) after tax from discontinued operations (0.01) 0.02Total Diluted result per share attributable to the company's ordinary shares 0.13 (0.72)EARNINGS ATTRIBUTABLE TO ORDINARY SHARES(Amounts in thousand euros) 2024 2023Profit/(Loss) from continuing operations 190,450 (1,023,917)Income/(Loss) after tax from discontinued operations (19,410) 21,156Total net income 171,040 (1,002,761)AVERAGE NUMBER OF ORDINARY DILUTED SHARES(no. of shares in thousands) 2024 2023Average number of ordinary shares used to compute basic earnings per share 1,280,958 1,311,358Deferred Shares (*)77,095 70,211Average number of ordinary and potential shares used to compute diluted earnings per share 1,358,053 1,381,569(*) = shares attributed to employees according to the first tranche of the LTI Plan and potential shares in issue upon conversion of the convertible bond loans issued on 29 June 2020 and 17 February 2021",
"dimensions": {
"concept": "ifrs-full:DisclosureOfEarningsPerShareExplanatory",
"language": "en",
"entity": "scheme:5493000P70CQRQG8SN85",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
}
},
"f0__s8__6__88": {
"value": "42. Segment reportingThe segment disclosure has been prepared in compliance with the IFRS 8 international accounting standard.Consistent with the Group\u2019s organisational structure as well as the related management reporting methods, the following Operating Sectors were thus identified, coinciding with the CGUs used for the purposes of the Impairment Test (see paragraph 9.3):- Merchant Solutions: through this business line, the Group provides the services necessary to enable merchants to accept digital payments, including through commercial relationships with partner banks, for transactions carried out physically at retail outlets and digital transactions on the internet (e-commerce);- Issuing Solutions: through this business line, working with its partner banks the Group provides a broad spectrum of issuing services, i.e. relating to the procurement, issuing and management of payment cards;- Digital Banking Solutions: through this business line, the Group provides ATM terminal management, clearing, digital corporate bank-ing, as well as network services.The geographical breakdown of revenues is also provided.Section 42.2 presents a reconciliation of the Income Statement drafted by means of segment disclosure and the Income Statement prepared in the Financial Statements.42.1 SEGMENT REPORTING: INCOME STATEMENT FOR THE PERIOD(Amounts in million euros)Merchant Issuing Digital Banking Total 2024SolutionsSolutionsSolutionssegmentOperating revenues 1,995 1,128 389 3,513Personnel expenses (427) (223) (91) (742)Other administrative expenses (476) (298) (134) (907)Adjustments and net operating provisions (1) (2) 1 (2)Operating costs net of amortization (904) (523) (224) (1,650)EBITDA 1,091 605 166 1,862Amortization and depreciation (914)Operating margin 948Interest and financial costs (228)Non-recurring items (332)Profit/(Loss) before taxes 388Income taxes (217)Profit/(Loss) for the year 171Profit for the year attributable to non-controlling interests (4)Profit/(Loss) attributable to the Group 167(Amounts in million euros)Merchant Issuing Digital Banking Total 2023SolutionsSolutionsSolutionssegmentOperating revenues 1,863 1,085 383 3,331Personnel expenses (428) (208) (94) (730)Other administrative expenses (479) (273) (142) (894)Adjustments and net operating provisions 14 5 4 23Operating costs net of amortization (893) (476) (232) (1,601)EBITDA 969 609 151 1,730Amortization and depreciation (895)Operating margin 834Interest and financial costs (245)Non-recurring items (1,459)Profit/(Loss) before taxes (869)Income taxes (133)Profit/(Loss) for the year (1,003)Profit for the year attributable to non-controlling interests (3)Profit/(Loss) attributable to the Group (1,006)The EBITDA presented above is the \u201cnormalised EBITDA\u201d as described in the \u201cAlternative Performance Measures\u201d section of the Man-agement Report.The breakdown of revenues by geographical area is as follows.(Amounts in million euros)Operating Operating revenues 2024revenues 2023Italy 2,067 1,966Nordics & Baltics 608 602DACH & Poland (*) 484 440SE Europe & Other 353 324Total Operating Revenues 3,513 3,331(*) DACH includes Germany, Austria and Switzerland.42.2 SEGMENT REPORTING: RECONCILIATION OF SEGMENT REPORTING ON THE INCOME STATEMENT WITH INCOME STATEMENT FOR THE PERIOD(Amounts in million euros)Total segment Reconciliation Financial statementsreportingOperating revenues/Financial and operating income 3,513 (137) 3,375Personnel expenses (742) (204) (945)Other administrative expenses (907) (193) (1,100)Adjustments and net operating provisions (2) (8) (10)Operating costs net of amortization (1,650) EBITDA 1,862 Amortization and depreciation (914) 3 (911)Operating margin 948 Interest and financial costs (228) 228 -Non-recurring items (332) 312 (20)Profit/(Loss) before taxes 388 1 389Income taxes (217) (0) (217)Profit/(Loss) for the year 171 0 171Profit for the year attributable to non-controlling interests (4) (0) (4)Profit/(Loss) attributable to the Group 167 0 167",
"dimensions": {
"concept": "ifrs-full:DisclosureOfEntitysReportableSegmentsExplanatory",
"language": "en",
"entity": "scheme:5493000P70CQRQG8SN85",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
}
},
"f0__s8__6__90": {
"value": "43. Fees for Audit and Non-Audit Services Pursuant to Article 149 duodecies of Consob Regulation No. 11971 (Amounts in thousand euros)NEXI SpA Nexi's Group EntitiesPwC SpA Rete PwC PwC SpA Rete PwC (**)Audit 275 556 3,850 (*)Other certifications184 146Other services: - - - 91due diligence -agreed verification procedures 89other services 1Total 459 - 556 4.087(*) Include attestation services assigned to PwC network companies in accordance with specific regulatory requirements, ISA 800/805 and ISAE 3000 attestation services, sustainability reporting certification services, services for signing tax returns.(**) It also includes foreign companies in the PwC network that perform legal or voluntary auditing services in favour of the Nexi Group\u2019s foreign subsidiaries and consolidated companies.Note that the contractual audit fees include the adjustment for inflation and contractual fee updates in 2024 for work performed on the previous year\u2019s financial statements (Euro 0.9 million).",
"dimensions": {
"concept": "ifrs-full:DisclosureOfAuditorsRemunerationExplanatory",
"language": "en",
"entity": "scheme:5493000P70CQRQG8SN85",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
}
}
}
}