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   "value": "1 2022 Executive Board remuneration entitlements    and IFRS costs (audited) for the company      Fixed Compensation   Variable compensation                        Proportion actual Pension    Short-term    Long-term    fixed vs variable 2  3     Annual base salary  contributions Other incentive plan  incentive  Total  compensation (%)                                4  5  In EUR     2022   2021   2022   2021   2022   2021   2022 2021 2022   2021   2022   2021   2022   2021  6                             D.J.M. Richelle       7  entitlement   30  1.387  65.7%  700  n/a  189  n/a  22  n/a  446    n/a    n/a  n/a  n/a      8     184             1.541   34.3%    costs F. Eulderink                                 9  10  entitlement     329 458  1.477 1.639   56.2%   46.1%  597  568  233  186  1  1  317    426    11   12  costs     439         570  1.587 1.751   43.8%   53.9%  13                             M.E.G. Gilsing                  7           entitlement   27  984    68.9%  525  n/a  144  n/a  9  n/a  279  n/a  n/a  n/a  n/a      8     137                     1.094     31.1%        costs Former Executive Board members                               14                               E.M. Hoekstra            9  10  entitlement    119    12   527 736   646   2.339   18.4%   39.8%  n/a  746  n/a  174   n/a    671  15  15   11, 15  12   costs    -/-65           196       -/-65 1,734   -/-130   3.521   81.6%   60.2%  16                               G.B. Paulides   9  10  entitlement    157   9   320 426   785   1.563   49.7%   45.5%  189  568  44  134  75    426  17  17   11, 17  12  costs    -/-160     833    245 832   395   2.793   50.3%   54.5%  Total entitlements    308   22  1.233   1.620   5.279 5.541   55.5%   43.3%  2.011  1.882  610  494  1.117  1.523  Total costs    -/-193   1.030   940   3.136   4.487   8.065   44.5%   56.7%        1  Entitlements are defined as (i) payments in cash, i.e. the fixed remuneration (annual base salary, and any fixed allowances in cash), and the short-term variable incentive in cash which relates to the performance year 2022 and which will be paid out in 2023; (ii) the monetary value of the long-term variable incentive in shares of which the performance period ended on 31 December, 2022 (under 2020 \u2013 2022 Executive Board Long-Term Share Plan), and which is scheduled to vest in 2023; (iii) the monetary value of the retirement benefits provided under the company pension arrangements; and (iv) the monetary value of any other remuneration provided to (former) Executive Board during or related to the financial year.  2  For Executive Board members who were in service prior to January 1, 2015 (in 2022: Frits Eulderink and Eelco Hoekstra), the difference between the Vopak contributions to the current pension plan and the Vopak contributions to the pension arrangement in place prior to January 1, 2015, is compensated for by a separate pension contribution allowance paid out to the individual, subject to statutory tax withholdings. The gross value of these allowances is included in the pension contributions as stated in this table.  3  The column \u2018Other\u2019 includes certain perquisites provided to individual Executive Board members in 2022, such as a life-cycle allowance and an employer contribution to the Dutch statutory health insurance. The IFRS costs shown in this column are excluding the annual employer contributions to the Dutch social security. For Dick Richelle, Frits Eulderink, and Michiel Gilsing, the 2022 employer social security contributions amounted to EUR 13K (2021: EUR 13K). For Eelco Hoekstra, and Gerard Paulides, the 2022 employer social security contributions amounted to EUR 1K and 7K respectively (2021: EUR 13K).  4  This is the STIP related to the 2022 performance year which will be paid out in 2023.   5  This is the STIP related to the 2021 performance year which was paid out in 2022.  6  Dick Richelle was appointed as Chairman of the Executive Board and CEO as of 1 January, 2022. His remuneration entitlements before this time are not included in this table as these did not relate to his Executive Board membership.  7  In 2020, Dick Richelle and Michiel Gilsing received conditional awards of performance shares under the company\u2019s 2020 \u2013 2022 Long-Term Incentive Plan program for senior executives and other key managers. These shares are scheduled to vest in April 2023. The entitlements shown in this table represent the value at 31 December, 2022 of a prorated part of their total awards made to the under this program based on the performance realized and the closing share price at 31 December, 2022 of EUR 27.75. The proration is based on that part of the entire 3-year performance period that relates to the period during which they were a member of the Executive Board in 2022, that is 1/3 of the total award.  8  This amount reflects the recognized IFRS costs accrued by the company during the financial year 2022 for the prorated parts of the unvested performance shares awarded conditionally to Dick Richelle and Michiel Gilsing under the company\u2019s 2020 \u2013 2022 and 2021 \u2013 2023 Long-Term Incentive Plan programs for senior executives and other key managers (whereby the proration is based on that part of the entire 3-year performance period that relates to the period during which they are a member of the Executive Board in 2022), and for the unvested performance shares awarded conditionally to them under the 2022 \u2013 2024 Executive Board Long-Term Share Plan.  9  This is the value at 31 December, 2022 of the performance shares awarded under the 2020 \u2013 2022 Executive Board Long-Term Share Plan based on the performance realized and the closing share price at 31 December, 2022 of EUR 27.75. These shares are scheduled to vest in April 2023.  10  This is the value of the performance shares awarded under the 2019 \u2013 2021 Executive Board Long-Term Share Plan based on the performance realized and the closing share price at 31 December 2020 of EUR 42.99. These shares vested  in April 2022 based on a share price of EUR 29.32, resulting in the following values at the date of vesting: Frits Eulderink: EUR 436,458; Eelco Hoekstra: EUR 700,689; and Gerard Paulides: EUR 405,202. These values are also shown in the table \u20182022 movements in outstanding LTSP awards made to the Executive Board\u2019 in this Remuneration report.  11  This amount reflects the recognized IFRS costs accrued by the company during the financial year 2022 for the unvested performance shares awarded conditionally to individual Executive Board members under the Long-Term Share Plans 2020 \u2013 2022, 2021 \u2013 2023, and 2022 - 2024.  12  This amount reflects the recognized IFRS costs accrued by the company during the financial year 2021 for the unvested performance shares awarded conditionally to individual Executive Board members under Long-Term Share Plans 2019 \u2013 2021, 2020 \u2013 2022, and 2021 - 2023.  13  Michiel Gilsing was appointed as member of the Executive Board and CFO on 20 April, 2022. His remuneration entitlements related to the period 1 January - 20 April, 2022 are also included in the 2022 figures. His remuneration entitlements before this time are not included in this table as these did not relate to his Executive Board membership.  14  Eelco Hoekstra left the company on 31 January, 2022 as a result of his (reduced) notice period which ended on that date. In 2021, he continued to be paid in line with Vopak\u2019s Executive Board remuneration policy until the end of his service on 31 December, 2021. In January 2022, he received the fixed part of his package only. Governed by the Executive Board Long-Term Incentive Plan Rules and the discretionary decision by the Supervisory Board, Eelco Hoekstra remains eligible for full vesting of the unvested performance shares awarded conditionally to him under the Executive Board Long-Term Share Plans 2019 \u2013 2021, 2020 - 2022 and 2021 \u2013 2023; no accelerated vesting was applied.  15  The IFRS costs shown in the columns \u2018Other\u2019 and \u2018Long-term incentive\u2019 in this table for Eelco Hoekstra include the costs in 2022 versus 2021 which the company incurred in relation to his Board services, as well as the actual costs which the company incurred in 2022 and is projected to incur in 2023, and 2024 in relation to the termination of his Board appointment on 1 January, 2022. Under IFRS, the costs that occur after the termination of his Board appointment, i.e. after the date of the termination of his services to the company (i.e.31 December 2021) were accelerated in 2021 on an accrual basis. The 2022 IFRS Costs amount shown in the column \u2018Other\u2019 includes a recalculation of the accrual made in 2021 to reflect for the actual costs incurred in 2022 and a reassessment of any future costs to incur in 2023 and 2024. As a result, the 2022 IFRS costs also include an adjustment to the earlier accrual. The accelerated costs for the unvested 2020 \u2013 2022 and 2021 \u2013 2023 Executive Board Long-Term Share Plan awards which are expected to vest in 2023 and 2024, respectively, are based on modelled vesting results, which were reassessed in 2022. The 2022 IFRS costs also include a recalculation of the earlier accrual for the actual and projected tax levy as required under the Dutch income tax law 32ba/ 32bb regarding excessive severance payments (\u2018pseudo-eindheffing excessieve vertrekvergoedingen\u2019) on the payments and vestings to Eelco Hoekstra in 2022 \u2013 2024.  In 2022, this tax levy was nil.16  Gerard Paulides continued to be paid in line with Vopak\u2019s Executive Board remuneration policy until the end of his scheduled Board appointment on 20 April, 2022. He remained available to the incoming CFO and to the Royal Vopak Board to assist with the transition and left Royal Vopak on 30 June, 2022. From April 21 until 30 June, 2022, he received compensation equal to the fixed part of his package only; as this compensation does not relate to his Executive Board membership, it is included in the column \u2018Other\u2019 in this table. He is eligible for a prorated award under the 2022 \u2013 2024 Executive Board Long-Term Share Plan for the period of January to April, 2022. Governed by the Executive Board Long-Term Incentive Plan Rules and the decision by the Supervisory Board, Gerard Paulides remains also eligible for full vesting of the unvested performance shares awarded conditionally to him under the Executive Board Long-Term Share Plans 2020 \u2013 2022 and 2021 \u2013 2023. No accelerated vesting applies.  17  The IFRS costs shown in the columns \u2018Other\u2019 and \u2018Long-term incentive\u2019 in this table for Gerard Paulides include the costs in 2022 versus 2021 which the company incurred in relation to his Board services, as well as the actual costs which the company incurred in 2022 after 20 April, 2022 and is projected to incur in 2023, 2024, and 2025 in relation to the termination of his Board appointment on 20 April, 2022. Under IFRS, the costs that occur after the termination of his Board appointment, i.e. after the date of the termination of his services to the company (i.e. 20 April, 2022) were accelerated in 2021 on an accrual basis. The 2022 IFRS Costs amount shown in the column \u2018Other\u2019 includes a recalculation of the accrual made in 2021 to reflect for the actual costs incurred in 2022 and a reassessment of any future costs to incur in 2023, 2024, and 2025. As a result, the 2022 IFRS costs also include an adjustment to the earlier accrual. The accelerated costs for the unvested 2020 \u2013 2022 and 2021 \u2013 2023 Executive Board Long-Term Share Plan awards that which are expected to vest in 2023 and 2024, respectively, are based on modelled vesting results, which were reassessed in 2022.  The 2022 IFRS costs also include a recalculation of the earlier accrual for the actual and projected tax levy as required under the Dutch income tax law 32ba/ 32bb regarding excessive severance payments (\u2018pseudo-eindheffing excessieve vertrekvergoedingen\u2019) on the payments and vestings to Gerard Paulides in 2022 \u2013 2025.  In 2022, this tax levy was 84K.  2022 Supervisory Board remuneration (audited) \u00b9 \u00b2  Super-Selection and Remu-visory Audit Appointment neration Total Total In EUR 1,000  Board  Committee  Committee  Committee  2022  2021  B.J. Noteboom (Chairman)   97.5   n/a   7.0   7.0   111. 5    111.5   M.F. Groot (Vice-Chairman)   65.0   8.5   5.0   n/a   78.5   78.5  L.J.I. Foufopoulos \u2013    De Ridder (member)   65.0   8.5   n/a   7.0   80.5   80.5  3  N. Giadrossi (member) 65.0   8.5   n/a   10.0   83.5   82.5  4  R.M. Hookway (member) 65.0   8.5   n/a   n/a   73.5   81.5  B. van der Veer (member)   65.0   15.0   n/a   n/a   80.0   80.0  Former Supervisory Board members   5  R.G.M. Zwitserloot (member) n/a   n/a   n/a   n/a   n/a   25.0  Total   422.5   49.0   12.0   24.0   507.5   539.5  1  Reimbursements of actual expenses made by individual Supervisory Board members are not included in this table as these do not qualify as remuneration.  2  Amounts stated are gross, and excluding VAT, where applicable.  3  Nicoletta Giadrossi is Chair of the Remuneration Committee since 21 April, 2021, which is reflected in the total 2021 fees shown in this table.  4  Richard Hookway was appointed as a member of the Supervisory Board, and as a member of the Audit Committee on 21 April 2021. The 2021 fees shown in this table include an amount of EUR 32,500 which was provided to him as compensation for his activities for the Supervisory Board prior to his appointment.  5  Rien Zwitserloot stepped down as a member of the Supervisory Board, and Chair of the Remuneration Committee on 21 April, 2021.   Note 2.5 Personnel expenses  A Accounting policies Short-term employee benefits: wages, salaries, social security contributions, annual leave and sickness absenteeism, incentives and non-monetary benefits are recognized in the year in which the related services are rendered by employees. Termination benefits are payable when employment is terminated by the Group before the normal retirement date, or whenever an employee accepts voluntary redundancy in exchange for these benefits. The Group recognizes termination benefits at the earlier of the following dates: (a) when the Group can no longer withdraw the offer of those benefits; and (b) when the Group recognizes a restructuring provision that involves the payment of termination benefits. The Group recognizes a provision for incentive plans where contractually obliged or where there is a past practice that has created a constructive obligation. For the accounting policies related to share-based compensation, other types of remuneration and pensions and other employee benefits reference is made to note 7.2 and note 9.4. Capitalized personnel expenses: costs of employee benefits arising directly from the construction of Intangible assets or Property, plant and equipment and which meet the recognition criteria, are capitalized as part of the cost of the asset concerned. Personnel expenses In EUR millions  Note  2022  2021Wages and salaries  308.5  300.1 Social security charges  39.4  36.4 Contribution to pension schemes (defined contribution)  35.5  31.8 Pension charges (defined benefit plans)  9.4  7.6  7.4 Long-term incentive plans  7.2  4.0  8.5 Early retirement  6.2  4.7 Other personnel expenses  23.0  20.5 Capitalized personnel expenses  - 59.3  - 66.7 Total  364.9  342.7 There were no individually material items recognized in Personnel expenses in 2021 nor in 2022. For the impact of the change in board composition, reference is made to the Remuneration report. Average number of employees (in FTEs) During the year under review, the Group employed on average 4,061 employees and temporary staff (in FTEs) (2021: 4,250). The movements in the number of own employees at subsidiaries (in FTEs) were as follows: In FTEs  2022  2021 Number at 1 January  3,730  3,713 Joiners  572  475 Leavers  - 554  - 458 Divestment/deconsolidation  - 276  \u2013 Number at 31 December  3,472  3,730 Note 7.1 Remuneration of Board members   Reference is made to the section of the Remuneration report for information regarding the remuneration and related costs of the Supervisory Board members and the Executive Board members.   Costs of long-term incentive plans   LTSP 2022 LTSP 2021 LTSP 2020 LTSP 2019 In EUR thousands   equity-settled   equity-settled   equity-settled   equity-settled   Cash  Plan   Total  2022   Total  2021  D.J.M. Richelle   106.4   27.8   50.1   \u2013   n/a   184.3   \u2013  F. Eulderink   74.2   71.9   231.4   61.8   n/a   439.3   570.2  M.E.G. Gilsing   65.3   26.7   44.9   \u2013   n/a   136.9   \u2013  Members Executive Board  245.9   126.4   326.4   61.8   n/a  760.5   570.2  E.M. Hoekstra   n/a   -  163.3   98.0   \u2013   n/a   -  65.3   1,734.4  G.B. Paulides   70.8   -  3.6   125.3   53.0   n/a   245.5   831.8  Former members Executive Board  70.8   -  166.9   223.3   53.0   n/a   180.2   2,566.2  Other senior executives 232.3   355.4   1,352.4   382.0   717.2   3,039.3   5,393.1  Total   549.0   314.9   1,902.1   496.8   717.2   3,980.0   8,529.5  Incentive opportunities   LTSP  2022   LTSP  2021   LTSP  2020Members Executive Board       D.J.M. Richelle   0% to 165%     F. Eulderink   0% to 135%   0% to 135%   0% to 135%  M.E.G. Gilsing   0% to 135%     Former members Executive Board        E.M. Hoekstra     0% to 165%   0% to 165%  G.B. Paulides   0% to 135%   0% to 135%   0% to 135%  Senior management       Eligible other senior executives 0% to 60%   0% to 60%   0% to 60%         Movements in the number of conditional awards  In numbers   D.J.M.  Richelle   F.  Eulderink   M.E.G.  Gilsing   E.M.  Hoekstra   G.B.  Paulides   Other   Total  Outstanding at 31 December 2020   \u2013   32,436   \u2013   51,577   30,331   200,794   315,138  Vested   \u2013   -  11,235   \u2013   -  17,554   -  10,183   -  59,941   -  98,913  Forfeited   \u2013   \u2013   \u2013   \u2013   \u2013   -  5,393   -  5,393  Newly awarded   \u2013   11,330   \u2013   18,176   11,330   92,717   133,553  Outstanding at 31 December 2021   \u2013   32,531   \u2013   52,199   31,478   228,177   344,385  Vested and settled   \u2013   -  10,826   \u2013   -  17,380   -  10,051   -  54,849   -  93,106  Forfeited   \u2013   \u2013   \u2013   \u2013   \u2013   -  27,212   -  27,212  1  Transferred from other senior executives2,983   \u2013   2,804   \u2013   \u2013   -  5,787   \u2013  Newly awarded   23,280   16,244   14,285   \u2013   5,155   117,768   176,732  Outstanding at 31 December 2022   26,263   37,949   17,089   34,819   26,582   258,097   400,799  1  Previously reported under Other.2   For LTSP 2020, 2021 and 2022, the conditional awards are based on the salary on the date of grant.    Valuation and cost allocation  Long-term incentive plans (LTIPs) valuation (former) Executive Board members and other senior executives  1  2  3    Conditional awards Number of expected shares Allocated cost to               Value at Value for cost In EUR thousands   Number   Value at grant   Number  vesting  allocation   2022   2021               LTSP 2022, equity-settled (conditional)   23,280   595.3   12,513   n/a   320.0   106.4   \u2013  8LTSP  2021, equity-settled (conditional)   2,038   72.0   1,574   n/a   55.6   27.8   \u2013  8LTSP  2020, equity-settled (conditional)   945   43.9   1,079   29.9   50.1   50.1   \u2013  Total outstanding LTIPs - D.J.M. Richelle   26,263   711.2   15,166   29.9   425.7                     6  Total LTIP cost - D.J.M. Richelle           184.3   \u2013                 LTSP 2022, equity-settled (conditional)   16,244   415.4   8,731   n/a   223.3   74.2   \u2013  LTSP 2021, equity-settled (conditional)   11,330   411.3   8,752   n/a   317.7   71.9   139.8  LTSP 2020, equity-settled (conditional)   10,375   500.8   11,848   328.8   571.9   231.4   170.8  Total outstanding LTIPs - F. Eulderink   37,949   1,327.5   29,331   328.8   1,112.9     LTSP 2019, equity-settled (settled)   10,826   450.0   14,886   436.5   618.0   61.8   219.2  LTSP 2018, equity-settled (settled)   11,235   449.1   10,112   403.5   449.1   \u2013   40.4  Total LTIP cost - F. Eulderink             439.3   570.2                 LTSP 2022, equity-settled (conditional)   14,285   365.3   7,678   n/a   196.3   65.3   \u2013  8LTSP  2021, equity-settled (conditional)   1,957   69.2   1,512   n/a   53.4   26.7   \u2013  8LTSP  2020, equity-settled (conditional)   847   39.3   967   26.8   44.9   44.9   \u2013  Total outstanding LTIPs - M.E.G. Gilsing   17,089   473.8   10,157   26.8   294.6                     7  Total LTIP cost - M.E.G. Gilsing           136.9   \u2013                 Total Outstanding LTIPs - members Executive Board   81,301   2,512.5   54,654   385.5   1,833.2      Total LTIP cost - members Executive Board             760.5   570.2                 LTSP 2021, equity-settled (conditional)   18,176   659.8   14,041   n/a   509.7   -  163.3   673.0  LTSP 2020, equity-settled (conditional)   16,643   803.4   19,006   527.4   917.4   98.0   547.1  Total outstanding LTIPs - E.M. Hoekstra   34,819   1,463.2   33,047   527.4   1,427.1      LTSP 2019, equity-settled (settled)   17,380   721.8   23,898   700.7   992.5   \u2013   451.1  LTSP 2018, equity-settled (settled)   17,554   701.7   15,799   630.4   701.7   \u2013   63.2  4  Total LTIP cost - E.M. Hoekstra           -  65.3   1,734.4                 LTSP 2022, equity-settled (conditional)   5,155   131.8   2,771   n/a   70.8   70.8   \u2013  LTSP 2021, equity-settled (conditional)   11,330   411.3   8,752   n/a   317.7   -  3.6   321.3  LTSP 2020, equity-settled (conditional)   10,097   487.4   11,531   320.0   556.6   125.3   266.0  1  2  3   Conditional awards Number of expected shares Allocated cost to               Value at Value for cost In EUR thousands   Number   Value at grant   Number  vesting  allocation   2022   2021  Total outstanding LTIPs - G.B. Paulides   26,582   1,030.5   23,054   320.0   945.1     LTSP 2019, equity-settled (settled)   10,051   417.4   13,820   405.2   573.9   53.0   207.9  LTSP 2018, equity-settled (settled)   10,183   407.0   9,165   365.7   407.0   \u2013   36.6  5  Total LTIP cost - G.B. Paulides           245.5   831.8                 Total outstanding LTIPs - former members Executive Board   61,401   2,493.7   56,101   847.4   2,372.2                     Total LTIP cost - former members Executive Board            180.2   2,566.2                 Total outstanding LTIPs - (former) members Executive Board   142,702   5,006.2   110,755   1,232.9   4,205.4                     Total LTIP cost - (former) members Executive Board            940.7   3,136.4                 LTSP 2022, equity-settled (conditional)   110,538   2,754.1   59,967   n/a   1,494.1   232.3   \u2013  LTSP 2021, equity-settled (conditional)   75,820   2,676.7   58,571   n/a   2,067.9   355.4   1,434.2  LTSP 2020, equity-settled (conditional)   71,739   3,323.7   81,926   2,273.4   3,795.6   1,352.4   1,585.9  Total outstanding LTIPs - other senior executives   258,097   8,754.5   200,464   2,273.4   7,357.6      LTSP 2019, equity-settled (settled)   54,849   2,280.7   75,416   2,211.2   3,136.0   382.0   1,435.5  LTSP 2018, equity-settled (settled)   59,941   2,303.3   53,949   2,319.3   2,303.3   \u2013   198.3  Total LTIP cost - other senior executives             2,322.1   4,653.9                 Total outstanding LTIPs and total LTIP cost   400,799   13,760.7   311,219   3,506.3   11,563.0   3,262.8   7,790.3  1  On a target level of 100%. For LTSPs 2018 and 2019 of the Executive Board, the conditional awards are based on the salary on the date of grant. The value at grant is the conditional number of shares multiplied by the average share price at the grant date.  2  The value for cost allocation for the equity-settled LTSPs is based on the number of expected or vested shares and multiplied by the fair value per share award at the grant date, which has been reduced with the expected discounted future dividends payable during the respective vesting periods since the holders of shares are not entitled to receive dividends during the vesting period. The value for cost allocation for the cash-settled LTSPs is based on the number of expected or vested shares and multiplied by the fair value per award at the reporting date less discounted expected future dividend payments. Expected dividends have been applied in accordance with the dividend policy of the company. The estimated vesting percentages of the LTSPs are based on a Monte Carlo simulation scenario analysis.  3  The (fair) value of the employee services received in exchange for the awards is recognized rateably over the vesting period of the plan.  4  On 19 October 2021, Eelco Hoekstra, Chief Executive Officer and Chairman of the Executive Board has informed the Supervisory Board that he has decided to step down as per 31 December 2021. The recognition of the LTSP 2019, 2020 and 2021 remains fully equity settled for Eelco Hoekstra in accordance with the plan rules. The costs of the LTSP were allocated to the remaining period of service.  5  On 10 December 2021, Gerard Paulides, Chief Financial Officer has informed the Supervisory Board that he has decided to step down as per 20 April 2022. The recognition of the LTSP 2019, 2020 and 2021 remains fully equity settled for    Gerard Paulides in accordance with the plan rules. The costs of the LTSP were allocated to the remaining period of service.  6  Following his appointment in the extraordinary General Meeting on 17 December, 2021, Dick Richelle started his Board membership as Chairman of the Executive Board and CEO on 1 January, 2022.   7  Following the announcement on 10 December, 2021, Michiel Gilsing was appointed as member of the Executive Board and CFO on 20 April, 2022.  8  Previously reported under other senior executives.   Note 9.4 Pensions and other employee benefits  The majority of employees are either covered by defined benefit plans, defined contribution plans or mandatory external pension plans. The defined benefit plans are plans that apply in the following countries: the United States, Germany and Belgium. These countries mostly operate final-pay pension plans, administrated by pension funds separate from the company.  A Accounting policies  Defined benefit plans  The Group\u2019s net pension obligation is calculated by an independent actuary, using the projected unit credit method. This calculation is performed separately for each plan by estimating the amount of the benefit that employees have earned in relation to their past services. The liability recognized in the balance sheet is the present value of these benefits at the end of the reporting period (defined benefit obligation) less the fair value of plan assets. The defined benefit obligation is determined by discounting the estimated future cash flows using interest rates of high-quality corporate bonds with durations matching the expected terms of the benefits.   The increase in the defined benefit obligation due to the passage of time and the expected return on plan assets, using the same interest rate as for the defined benefit obligation, are included in the pension costs.   Past-service costs are recognized immediately in the statement of income. Actuarial gains and losses arising from experience adjustments and changes in actuarial assumptions are recognized in equity via Other comprehensive income in the period in which they arise.   When a plan is changed, settled or when a plan is curtailed, the resulting change in the defined benefit obligation that relates to past-service or the gain or loss on curtailment is recognized immediately in the statement of income under Personnel expenses. The Group recognizes gains and losses on the settlement of a defined benefit plan when the settlement occurs.  Defined contribution plans  Contributions to defined contribution plans are recognized as an expense in the statement ofincome as incurred.   Key accounting estimates and judgments  The defined benefit obligation is determined on the basis of assumptions for future developments in variables such as salary increase, price index increase, life expectancy and discount rate. All assumptions are assessed at the reporting date. Changes in the assumptions may significantly affect the liabilities and pension costs under the defined benefit plans. The weighted average of these assumptions as well as sensitivities of key assumptions are disclosed in this note.  Pensions and other employee benefits  The table below provides an overview of the movements in the plan assets and defined benefits obligation for the years presented, showing separately the amounts that were recognized in the income statement, the statement of other comprehensive as well as the cash flows for the period.    Plan assets   Defined Benefit Obligation   Total              in EUR millions   2022   2021   2022   2021   2022   2021  Opening balance defined benefits position at 1 January   138.7   117.2   -  172.2   -  165.4   -  33.5   -  48.2  Movements:              Current service costs   \u2013   \u2013   -  6.4   -  6.2   -  6.4   -  6.2  Administration costs and taxes   \u2013   \u2013   -  0.5   -  0.4   -  0.5   -  0.4  Interest income/(expenses)   4.1   3.0   -  4.8   -  3.8   -  0.7   -  0.8  Components of defined benefit income/(costs) recorded in profit or loss  4.1   3.0   -  11.7   -  10.4   -  7.6   -  7.4  Return on plan assets (excluding interest income on plan assets)   -  26.7   8.4   \u2013   \u2013   -  26.7   8.4  Actuarial gains (-) and losses from changes in demographic assumptions (remeasurement)   \u2013   \u2013   -  0.4   2.3   -  0.4   2.3  Actuarial gains (-) and losses from experience   \u2013   \u2013   2.1   1.2   2.1   1.2  Actuarial gains (-) and losses from changes in financial assumptions (remeasurement)   \u2013   \u2013   53.4   5.6   53.4   5.6  Components of defined benefit income/(costs) recorded in other comprehensive income  -  26.7   8.4   55.1   9.1   28.4   17.5  Benefits paid from the pension fund   -  7.8   -  5.6   6.9   4.9   -  0.9   -  0.7  Employer's contributions   7.2   6.5   0.8   0.7   8.0   7.2  Reclassification to held for sale   -  0.8   \u2013   1.2   \u2013   0.4   \u2013  Exchange differences   7.7   9.2   -  9.2   -  11.1   -  1.5   -  1.9  Closing balance defined benefits position at 31 December   122.4   138.7   -  129.1   -  172.2   -  6.7   -  33.5  Other net pension obligations   \u2013   \u2013   -  1.4   -  1.4   -  1.4   -  1.4  Total pension position recognized at 31 December   122.4   138.7   -  130.5   -  173.6   -  8.1   -  34.9               Current liabilities           -  0.2   -  0.2  Non-current liabilities          -  7.9   -  34.7  Net pension obligation recognized at 31 December           -  8.1   -  34.9  1  The defined benefit obligation related to unfunded pension plans amounted to EUR 2.6 million at year-end 2022 (2021: EUR 3.0 million).     Total      in EUR millions   2022   2021Defined benefits obligations Allocated to the plans' participants:      Active members   -  57.6   -  84.8  Deferred members   -  23.5   -  35.9  Pensioners   -  48.0   -  51.5  Defined benefit obligation at 31 December   -  129.1   -  172.2   Market volatility had a positive impact on the Group\u2019s defined benefit plans in 2022, which resulted in a remeasurement gain (gross) of EUR 28.3 million (2021: remeasurement gain of EUR 17.5 million), being recorded, net of tax, in other comprehensive income. These remeasurements were caused by the defined benefit obligation impact of deviations from the assumptions set at the beginning of the year.  Change in the fair value of plan assets and major classes of plan assets  The following tables summarize the characteristics/main elements of the plan assets at 31 December.    Total      in EUR millions   2022   2021Major classes of plan assets     Bonds - investment grade   44.3   47.9  Bonds - high yield   20.5   26.6  Equity instruments   56.7   64.2  Commodities (gold)   0.9   \u2013  Fair value of plan assets at 31 December   122.4   138.7   The investments consist of participations in investment funds from reputable asset managers and are therefore well-diversified, such that the failure of any single investment would not have a material impact on the overall value of the investment fund.  The pension fund has not invested directly in shares of Royal Vopak, parts of the Group or in real estate of the Group.  Expected maturity, contribution and impact on result  The expected maturity analysis of undiscounted pension benefits at 31 December 2022 is as follows:   In EUR millions  2023   2024   2025   2026   2027   2028+   Total  Undiscounted pension benefits   6.1   6.7   7.5   7.2   7.5   256.0   291.0   Based on the latest funding agreements, the employer\u2019s contribution is expected to be around EUR 7.2 million in 2023.  Assumptions and sensitivity analysis  Assumptions    Total        2022   2021  Assumptions based on weighted average at 31 December     Discount rate on net liability   5.11%   2.62%  Expected general salary increase   5.08%   5.03%  Expected price index increase   2.88%   2.81%  Average Life expectancy in years for man aged 65 now:   20.6   20.4  Average Life expectancy in years for women aged 65 now:   22.8   22.7   The discount rates used in the determination of defined benefit obligations and pension expenses are based on high quality corporate bonds (AA) with a duration matching the duration of the pension liabilities. In addition, the calculations were based on recent mortality tables, taking future developments in mortality rates into account through projections or surpluses. Local historical data were used for employee turnover and disability assumptions.  The liabilities and pension expenses related to defined benefit plans are subject to risks regarding changes in discount rates, plan assets and returns derived from these assets, future salary increases, inflation and life expectancy. Such changes can negatively or positively influence the liabilities and necessitate additional future pension charges under IAS 19. The table below shows the estimated impact on the defined benefit obligations for defined benefit plans for each risk variable.  Sensitivity analysis  In EUR millions  Change   Increase   Decrease  Sensitivity assumptions       Price inflation   1.0%   3.9   -  3.4  Salary growth   0.25%   1.1   -  1.0  Discount rates   1.0%   -  14.6   18.0  Life expectation   1  year   3.3   n/a   The sensitivity analysis is based on changes that are realistically possible as at the end of the financial year. Each change in a significant actuarial assumption was analyzed separately as part of the test. Interdependencies were not taken into account.  ",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfEmployeeBenefitsExplanatory",
    "language": "en",
    "entity": "scheme:724500UL634GFV1KYF10",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
   }
  },
  "pp-value-1-3": {
   "value": "1 2022 Executive Board remuneration entitlements    and IFRS costs (audited) for the company      Fixed Compensation   Variable compensation                        Proportion actual Pension    Short-term    Long-term    fixed vs variable 2  3     Annual base salary  contributions Other incentive plan  incentive  Total  compensation (%)                                4  5  In EUR     2022   2021   2022   2021   2022   2021   2022 2021 2022   2021   2022   2021   2022   2021  6                             D.J.M. Richelle       7  entitlement   30  1.387  65.7%  700  n/a  189  n/a  22  n/a  446    n/a    n/a  n/a  n/a      8     184             1.541   34.3%    costs F. Eulderink                                 9  10  entitlement     329 458  1.477 1.639   56.2%   46.1%  597  568  233  186  1  1  317    426    11   12  costs     439         570  1.587 1.751   43.8%   53.9%  13                             M.E.G. Gilsing                  7           entitlement   27  984    68.9%  525  n/a  144  n/a  9  n/a  279  n/a  n/a  n/a  n/a      8     137                     1.094     31.1%        costs Former Executive Board members                               14                               E.M. Hoekstra            9  10  entitlement    119    12   527 736   646   2.339   18.4%   39.8%  n/a  746  n/a  174   n/a    671  15  15   11, 15  12   costs    -/-65           196       -/-65 1,734   -/-130   3.521   81.6%   60.2%  16                               G.B. Paulides   9  10  entitlement    157   9   320 426   785   1.563   49.7%   45.5%  189  568  44  134  75    426  17  17   11, 17  12  costs    -/-160     833    245 832   395   2.793   50.3%   54.5%  Total entitlements    308   22  1.233   1.620   5.279 5.541   55.5%   43.3%  2.011  1.882  610  494  1.117  1.523  Total costs    -/-193   1.030   940   3.136   4.487   8.065   44.5%   56.7%        1  Entitlements are defined as (i) payments in cash, i.e. the fixed remuneration (annual base salary, and any fixed allowances in cash), and the short-term variable incentive in cash which relates to the performance year 2022 and which will be paid out in 2023; (ii) the monetary value of the long-term variable incentive in shares of which the performance period ended on 31 December, 2022 (under 2020 \u2013 2022 Executive Board Long-Term Share Plan), and which is scheduled to vest in 2023; (iii) the monetary value of the retirement benefits provided under the company pension arrangements; and (iv) the monetary value of any other remuneration provided to (former) Executive Board during or related to the financial year.  2  For Executive Board members who were in service prior to January 1, 2015 (in 2022: Frits Eulderink and Eelco Hoekstra), the difference between the Vopak contributions to the current pension plan and the Vopak contributions to the pension arrangement in place prior to January 1, 2015, is compensated for by a separate pension contribution allowance paid out to the individual, subject to statutory tax withholdings. The gross value of these allowances is included in the pension contributions as stated in this table.  3  The column \u2018Other\u2019 includes certain perquisites provided to individual Executive Board members in 2022, such as a life-cycle allowance and an employer contribution to the Dutch statutory health insurance. The IFRS costs shown in this column are excluding the annual employer contributions to the Dutch social security. For Dick Richelle, Frits Eulderink, and Michiel Gilsing, the 2022 employer social security contributions amounted to EUR 13K (2021: EUR 13K). For Eelco Hoekstra, and Gerard Paulides, the 2022 employer social security contributions amounted to EUR 1K and 7K respectively (2021: EUR 13K).  4  This is the STIP related to the 2022 performance year which will be paid out in 2023.   5  This is the STIP related to the 2021 performance year which was paid out in 2022.  6  Dick Richelle was appointed as Chairman of the Executive Board and CEO as of 1 January, 2022. His remuneration entitlements before this time are not included in this table as these did not relate to his Executive Board membership.  7  In 2020, Dick Richelle and Michiel Gilsing received conditional awards of performance shares under the company\u2019s 2020 \u2013 2022 Long-Term Incentive Plan program for senior executives and other key managers. These shares are scheduled to vest in April 2023. The entitlements shown in this table represent the value at 31 December, 2022 of a prorated part of their total awards made to the under this program based on the performance realized and the closing share price at 31 December, 2022 of EUR 27.75. The proration is based on that part of the entire 3-year performance period that relates to the period during which they were a member of the Executive Board in 2022, that is 1/3 of the total award.  8  This amount reflects the recognized IFRS costs accrued by the company during the financial year 2022 for the prorated parts of the unvested performance shares awarded conditionally to Dick Richelle and Michiel Gilsing under the company\u2019s 2020 \u2013 2022 and 2021 \u2013 2023 Long-Term Incentive Plan programs for senior executives and other key managers (whereby the proration is based on that part of the entire 3-year performance period that relates to the period during which they are a member of the Executive Board in 2022), and for the unvested performance shares awarded conditionally to them under the 2022 \u2013 2024 Executive Board Long-Term Share Plan.  9  This is the value at 31 December, 2022 of the performance shares awarded under the 2020 \u2013 2022 Executive Board Long-Term Share Plan based on the performance realized and the closing share price at 31 December, 2022 of EUR 27.75. These shares are scheduled to vest in April 2023.  10  This is the value of the performance shares awarded under the 2019 \u2013 2021 Executive Board Long-Term Share Plan based on the performance realized and the closing share price at 31 December 2020 of EUR 42.99. These shares vested  in April 2022 based on a share price of EUR 29.32, resulting in the following values at the date of vesting: Frits Eulderink: EUR 436,458; Eelco Hoekstra: EUR 700,689; and Gerard Paulides: EUR 405,202. These values are also shown in the table \u20182022 movements in outstanding LTSP awards made to the Executive Board\u2019 in this Remuneration report.  11  This amount reflects the recognized IFRS costs accrued by the company during the financial year 2022 for the unvested performance shares awarded conditionally to individual Executive Board members under the Long-Term Share Plans 2020 \u2013 2022, 2021 \u2013 2023, and 2022 - 2024.  12  This amount reflects the recognized IFRS costs accrued by the company during the financial year 2021 for the unvested performance shares awarded conditionally to individual Executive Board members under Long-Term Share Plans 2019 \u2013 2021, 2020 \u2013 2022, and 2021 - 2023.  13  Michiel Gilsing was appointed as member of the Executive Board and CFO on 20 April, 2022. His remuneration entitlements related to the period 1 January - 20 April, 2022 are also included in the 2022 figures. His remuneration entitlements before this time are not included in this table as these did not relate to his Executive Board membership.  14  Eelco Hoekstra left the company on 31 January, 2022 as a result of his (reduced) notice period which ended on that date. In 2021, he continued to be paid in line with Vopak\u2019s Executive Board remuneration policy until the end of his service on 31 December, 2021. In January 2022, he received the fixed part of his package only. Governed by the Executive Board Long-Term Incentive Plan Rules and the discretionary decision by the Supervisory Board, Eelco Hoekstra remains eligible for full vesting of the unvested performance shares awarded conditionally to him under the Executive Board Long-Term Share Plans 2019 \u2013 2021, 2020 - 2022 and 2021 \u2013 2023; no accelerated vesting was applied.  15  The IFRS costs shown in the columns \u2018Other\u2019 and \u2018Long-term incentive\u2019 in this table for Eelco Hoekstra include the costs in 2022 versus 2021 which the company incurred in relation to his Board services, as well as the actual costs which the company incurred in 2022 and is projected to incur in 2023, and 2024 in relation to the termination of his Board appointment on 1 January, 2022. Under IFRS, the costs that occur after the termination of his Board appointment, i.e. after the date of the termination of his services to the company (i.e.31 December 2021) were accelerated in 2021 on an accrual basis. The 2022 IFRS Costs amount shown in the column \u2018Other\u2019 includes a recalculation of the accrual made in 2021 to reflect for the actual costs incurred in 2022 and a reassessment of any future costs to incur in 2023 and 2024. As a result, the 2022 IFRS costs also include an adjustment to the earlier accrual. The accelerated costs for the unvested 2020 \u2013 2022 and 2021 \u2013 2023 Executive Board Long-Term Share Plan awards which are expected to vest in 2023 and 2024, respectively, are based on modelled vesting results, which were reassessed in 2022. The 2022 IFRS costs also include a recalculation of the earlier accrual for the actual and projected tax levy as required under the Dutch income tax law 32ba/ 32bb regarding excessive severance payments (\u2018pseudo-eindheffing excessieve vertrekvergoedingen\u2019) on the payments and vestings to Eelco Hoekstra in 2022 \u2013 2024.  In 2022, this tax levy was nil.16  Gerard Paulides continued to be paid in line with Vopak\u2019s Executive Board remuneration policy until the end of his scheduled Board appointment on 20 April, 2022. He remained available to the incoming CFO and to the Royal Vopak Board to assist with the transition and left Royal Vopak on 30 June, 2022. From April 21 until 30 June, 2022, he received compensation equal to the fixed part of his package only; as this compensation does not relate to his Executive Board membership, it is included in the column \u2018Other\u2019 in this table. He is eligible for a prorated award under the 2022 \u2013 2024 Executive Board Long-Term Share Plan for the period of January to April, 2022. Governed by the Executive Board Long-Term Incentive Plan Rules and the decision by the Supervisory Board, Gerard Paulides remains also eligible for full vesting of the unvested performance shares awarded conditionally to him under the Executive Board Long-Term Share Plans 2020 \u2013 2022 and 2021 \u2013 2023. No accelerated vesting applies.  17  The IFRS costs shown in the columns \u2018Other\u2019 and \u2018Long-term incentive\u2019 in this table for Gerard Paulides include the costs in 2022 versus 2021 which the company incurred in relation to his Board services, as well as the actual costs which the company incurred in 2022 after 20 April, 2022 and is projected to incur in 2023, 2024, and 2025 in relation to the termination of his Board appointment on 20 April, 2022. Under IFRS, the costs that occur after the termination of his Board appointment, i.e. after the date of the termination of his services to the company (i.e. 20 April, 2022) were accelerated in 2021 on an accrual basis. The 2022 IFRS Costs amount shown in the column \u2018Other\u2019 includes a recalculation of the accrual made in 2021 to reflect for the actual costs incurred in 2022 and a reassessment of any future costs to incur in 2023, 2024, and 2025. As a result, the 2022 IFRS costs also include an adjustment to the earlier accrual. The accelerated costs for the unvested 2020 \u2013 2022 and 2021 \u2013 2023 Executive Board Long-Term Share Plan awards that which are expected to vest in 2023 and 2024, respectively, are based on modelled vesting results, which were reassessed in 2022.  The 2022 IFRS costs also include a recalculation of the earlier accrual for the actual and projected tax levy as required under the Dutch income tax law 32ba/ 32bb regarding excessive severance payments (\u2018pseudo-eindheffing excessieve vertrekvergoedingen\u2019) on the payments and vestings to Gerard Paulides in 2022 \u2013 2025.  In 2022, this tax levy was 84K.  Note 7.2 Long-term incentive plans (LTIPs)    At year-end 2022, as in prior year, the Group operated three Long-Term Share Plans (LTSPs) and Long-Term Cash Plans (LTCPs).       For the Executive Board, all share-based payment plans are 100% equity-settled.   For eligible senior management, the LTSPs also consisted of equity-settled share-based compensation plans.    The LTCPs are other long-term remuneration plans settled in cash. LTCPs are granted to staff in countries where local legal, regulatory and/ or tax regulations and requirements make it administratively very complex and burdensome to provide shares of a foreign based company to local staff, or in countries where this is simply not allowed. The periods to which the plans relate are presented below:   \u2022  LTSP and LTCP 2020-2022   \u2022  LTSP and LTCP 2021-2023   \u2022  LTSP and LTCP 2022-2024   The LTSP and LTCP 2019-2021 were vested and settled during 2022.   A Accounting policies   Share-based compensation   The fair value of equity-settled share-based compensation plans is determined at the date of granting and expensed in the statement of income based on the Group\u2019s estimate of the shares that will eventually vest over the period in which the service is rendered (vesting period) with a corresponding adjustment directly in equity. The fair value of cash-settled share-based compensation plans is determined at the date of granting and is remeasured at each reporting date until the liability is settled and is recognized over the vesting period as an expense to the extent to which participants have rendered services to date.    Generally, the compensation cost is recognized on a straight-line basis over the vesting period. The amounts expensed are adjusted over the vesting period for changes in the estimate of the number of shares and the equivalent in cash that will eventually vest. Adjustments are made at the end of each reporting period to reflect expected and actual forfeitures during the vesting period due to the failure to satisfy service conditions or non-market performance conditions, being profitability growth targets (EPS), Strategy Execution (previously named \u201cStrategic Direction\u201d) and Sustainability Execution (for LTSP and LTCP 2022-2024) as well as service conditions such as remaining an employee of the Group over a specified time period.   An equity-settled share-based payment award with a net settlement feature for withholding tax obligations is treated as equity-settled in its entirety.   Other long-term remuneration  Long-term remuneration settled in cash that depends on the development of the earnings per ordinary share (EPS) -excluding exceptional items- during a period of three years is allocated to these years based on the latest estimates of the EPS -excluding exceptional items- and are not treated as share-based payment plans. Liabilities are remeasured at the end of each reporting period.   Costs of long-term incentive plans   LTSP 2022 LTSP 2021 LTSP 2020 LTSP 2019 In EUR thousands   equity-settled   equity-settled   equity-settled   equity-settled   Cash  Plan   Total  2022   Total  2021  D.J.M. Richelle   106.4   27.8   50.1   \u2013   n/a   184.3   \u2013  F. Eulderink   74.2   71.9   231.4   61.8   n/a   439.3   570.2  M.E.G. Gilsing   65.3   26.7   44.9   \u2013   n/a   136.9   \u2013  Members Executive Board  245.9   126.4   326.4   61.8   n/a  760.5   570.2  E.M. Hoekstra   n/a   -  163.3   98.0   \u2013   n/a   -  65.3   1,734.4  G.B. Paulides   70.8   -  3.6   125.3   53.0   n/a   245.5   831.8  Former members Executive Board  70.8   -  166.9   223.3   53.0   n/a   180.2   2,566.2  Other senior executives 232.3   355.4   1,352.4   382.0   717.2   3,039.3   5,393.1  Total   549.0   314.9   1,902.1   496.8   717.2   3,980.0   8,529.5  For more information on the remuneration policy and the remuneration of the Executive Board members and the Supervisory Board members, reference is made to the Remuneration report as included in the Governance and compliance chapter.  Long-Term Share Plans  The current Long-Term Share Plan programs reward participants for (considerable and ambitious) improvements in Vopak\u2019s Earnings per Share -excluding exceptional items- (EPS) performance and Strategy Execution achievements during the three-year performance period, respectively from start date of the plan to the end date of the plan (either 2020-2022, 2021-2023 or 2022-2024), evaluated against the EPS -excluding exceptional items- and Strategy execution targets.   If the realized EPS -excluding exceptional items- and Strategy Execution which have been achieved during the three-year performance period falls within or exceeds the target range, a long-term remuneration will be awarded based on a percentage of their target grants (i.e. number of shares) made at date of grant, and this for all plans that are active.  The incentive ranges that apply to the various plans for the different groups of participants are presented in the following table.  Incentive opportunities   LTSP  2022   LTSP  2021   LTSP  2020Members Executive Board       D.J.M. Richelle   0% to 165%     F. Eulderink   0% to 135%   0% to 135%   0% to 135%  M.E.G. Gilsing   0% to 135%     Former members Executive Board        E.M. Hoekstra     0% to 165%   0% to 165%  G.B. Paulides   0% to 135%   0% to 135%   0% to 135%  Senior management       Eligible other senior executives 0% to 60%   0% to 60%   0% to 60%         Long-Term Cash Plans  To senior managers who are eligible for receiving long-term variable remuneration, yet not in shares, grants in (deferred) cash will be made. The company\u2019s Long-Term Cash Plan programs operate in a similar way as the company\u2019s Long-Term Share Plan programs, with the exception that vesting takes place in cash rather than in shares.  The LTCPs provide for additional pay in the form of deferred compensation under the terms and conditions of the plan after the vesting period. The financial performance is measured by the EPS -excluding exceptional items- development during the three-year performance period, the incentive can rise from 0% to a maximum of 22.5% or 30.0% per annum of the salary at the grant date.  Movements in the number of conditional awards  In numbers   D.J.M.  Richelle   F.  Eulderink   M.E.G.  Gilsing   E.M.  Hoekstra   G.B.  Paulides   Other   Total  Outstanding at 31 December 2020   \u2013   32,436   \u2013   51,577   30,331   200,794   315,138  Vested   \u2013   -  11,235   \u2013   -  17,554   -  10,183   -  59,941   -  98,913  Forfeited   \u2013   \u2013   \u2013   \u2013   \u2013   -  5,393   -  5,393  Newly awarded   \u2013   11,330   \u2013   18,176   11,330   92,717   133,553  Outstanding at 31 December 2021   \u2013   32,531   \u2013   52,199   31,478   228,177   344,385  Vested and settled   \u2013   -  10,826   \u2013   -  17,380   -  10,051   -  54,849   -  93,106  Forfeited   \u2013   \u2013   \u2013   \u2013   \u2013   -  27,212   -  27,212  1  Transferred from other senior executives2,983   \u2013   2,804   \u2013   \u2013   -  5,787   \u2013  Newly awarded   23,280   16,244   14,285   \u2013   5,155   117,768   176,732  Outstanding at 31 December 2022   26,263   37,949   17,089   34,819   26,582   258,097   400,799  1  Previously reported under Other.2   For LTSP 2020, 2021 and 2022, the conditional awards are based on the salary on the date of grant.    Valuation and cost allocation  Long-term incentive plans (LTIPs) valuation (former) Executive Board members and other senior executives  1  2  3    Conditional awards Number of expected shares Allocated cost to               Value at Value for cost In EUR thousands   Number   Value at grant   Number  vesting  allocation   2022   2021               LTSP 2022, equity-settled (conditional)   23,280   595.3   12,513   n/a   320.0   106.4   \u2013  8LTSP  2021, equity-settled (conditional)   2,038   72.0   1,574   n/a   55.6   27.8   \u2013  8LTSP  2020, equity-settled (conditional)   945   43.9   1,079   29.9   50.1   50.1   \u2013  Total outstanding LTIPs - D.J.M. Richelle   26,263   711.2   15,166   29.9   425.7                     6  Total LTIP cost - D.J.M. Richelle           184.3   \u2013                 LTSP 2022, equity-settled (conditional)   16,244   415.4   8,731   n/a   223.3   74.2   \u2013  LTSP 2021, equity-settled (conditional)   11,330   411.3   8,752   n/a   317.7   71.9   139.8  LTSP 2020, equity-settled (conditional)   10,375   500.8   11,848   328.8   571.9   231.4   170.8  Total outstanding LTIPs - F. Eulderink   37,949   1,327.5   29,331   328.8   1,112.9     LTSP 2019, equity-settled (settled)   10,826   450.0   14,886   436.5   618.0   61.8   219.2  LTSP 2018, equity-settled (settled)   11,235   449.1   10,112   403.5   449.1   \u2013   40.4  Total LTIP cost - F. Eulderink             439.3   570.2                 LTSP 2022, equity-settled (conditional)   14,285   365.3   7,678   n/a   196.3   65.3   \u2013  8LTSP  2021, equity-settled (conditional)   1,957   69.2   1,512   n/a   53.4   26.7   \u2013  8LTSP  2020, equity-settled (conditional)   847   39.3   967   26.8   44.9   44.9   \u2013  Total outstanding LTIPs - M.E.G. Gilsing   17,089   473.8   10,157   26.8   294.6                     7  Total LTIP cost - M.E.G. Gilsing           136.9   \u2013                 Total Outstanding LTIPs - members Executive Board   81,301   2,512.5   54,654   385.5   1,833.2      Total LTIP cost - members Executive Board             760.5   570.2                 LTSP 2021, equity-settled (conditional)   18,176   659.8   14,041   n/a   509.7   -  163.3   673.0  LTSP 2020, equity-settled (conditional)   16,643   803.4   19,006   527.4   917.4   98.0   547.1  Total outstanding LTIPs - E.M. Hoekstra   34,819   1,463.2   33,047   527.4   1,427.1      LTSP 2019, equity-settled (settled)   17,380   721.8   23,898   700.7   992.5   \u2013   451.1  LTSP 2018, equity-settled (settled)   17,554   701.7   15,799   630.4   701.7   \u2013   63.2  4  Total LTIP cost - E.M. Hoekstra           -  65.3   1,734.4                 LTSP 2022, equity-settled (conditional)   5,155   131.8   2,771   n/a   70.8   70.8   \u2013  LTSP 2021, equity-settled (conditional)   11,330   411.3   8,752   n/a   317.7   -  3.6   321.3  LTSP 2020, equity-settled (conditional)   10,097   487.4   11,531   320.0   556.6   125.3   266.0  1  2  3   Conditional awards Number of expected shares Allocated cost to               Value at Value for cost In EUR thousands   Number   Value at grant   Number  vesting  allocation   2022   2021  Total outstanding LTIPs - G.B. Paulides   26,582   1,030.5   23,054   320.0   945.1     LTSP 2019, equity-settled (settled)   10,051   417.4   13,820   405.2   573.9   53.0   207.9  LTSP 2018, equity-settled (settled)   10,183   407.0   9,165   365.7   407.0   \u2013   36.6  5  Total LTIP cost - G.B. Paulides           245.5   831.8                 Total outstanding LTIPs - former members Executive Board   61,401   2,493.7   56,101   847.4   2,372.2                     Total LTIP cost - former members Executive Board            180.2   2,566.2                 Total outstanding LTIPs - (former) members Executive Board   142,702   5,006.2   110,755   1,232.9   4,205.4                     Total LTIP cost - (former) members Executive Board            940.7   3,136.4                 LTSP 2022, equity-settled (conditional)   110,538   2,754.1   59,967   n/a   1,494.1   232.3   \u2013  LTSP 2021, equity-settled (conditional)   75,820   2,676.7   58,571   n/a   2,067.9   355.4   1,434.2  LTSP 2020, equity-settled (conditional)   71,739   3,323.7   81,926   2,273.4   3,795.6   1,352.4   1,585.9  Total outstanding LTIPs - other senior executives   258,097   8,754.5   200,464   2,273.4   7,357.6      LTSP 2019, equity-settled (settled)   54,849   2,280.7   75,416   2,211.2   3,136.0   382.0   1,435.5  LTSP 2018, equity-settled (settled)   59,941   2,303.3   53,949   2,319.3   2,303.3   \u2013   198.3  Total LTIP cost - other senior executives             2,322.1   4,653.9                 Total outstanding LTIPs and total LTIP cost   400,799   13,760.7   311,219   3,506.3   11,563.0   3,262.8   7,790.3  1  On a target level of 100%. For LTSPs 2018 and 2019 of the Executive Board, the conditional awards are based on the salary on the date of grant. The value at grant is the conditional number of shares multiplied by the average share price at the grant date.  2  The value for cost allocation for the equity-settled LTSPs is based on the number of expected or vested shares and multiplied by the fair value per share award at the grant date, which has been reduced with the expected discounted future dividends payable during the respective vesting periods since the holders of shares are not entitled to receive dividends during the vesting period. The value for cost allocation for the cash-settled LTSPs is based on the number of expected or vested shares and multiplied by the fair value per award at the reporting date less discounted expected future dividend payments. Expected dividends have been applied in accordance with the dividend policy of the company. The estimated vesting percentages of the LTSPs are based on a Monte Carlo simulation scenario analysis.  3  The (fair) value of the employee services received in exchange for the awards is recognized rateably over the vesting period of the plan.  4  On 19 October 2021, Eelco Hoekstra, Chief Executive Officer and Chairman of the Executive Board has informed the Supervisory Board that he has decided to step down as per 31 December 2021. The recognition of the LTSP 2019, 2020 and 2021 remains fully equity settled for Eelco Hoekstra in accordance with the plan rules. The costs of the LTSP were allocated to the remaining period of service.  5  On 10 December 2021, Gerard Paulides, Chief Financial Officer has informed the Supervisory Board that he has decided to step down as per 20 April 2022. The recognition of the LTSP 2019, 2020 and 2021 remains fully equity settled for    Gerard Paulides in accordance with the plan rules. The costs of the LTSP were allocated to the remaining period of service.  6  Following his appointment in the extraordinary General Meeting on 17 December, 2021, Dick Richelle started his Board membership as Chairman of the Executive Board and CEO on 1 January, 2022.   7  Following the announcement on 10 December, 2021, Michiel Gilsing was appointed as member of the Executive Board and CFO on 20 April, 2022.  8  Previously reported under other senior executives.   Other provisions  The other provisions primarily relate to legal and claims-related provisions and the provisions for the LTIPs. Many of the claims-related provisions concern insured events, for which the receivable on the insurance company is recognized separately under the Other receivables.  LTIPs  Other provisions included an amount of EUR 0.7 million (2021: EUR 2.7 million) for the LTCPs (see note 7.2), and none for the cash-settled share-based payments of the LTSPs in 2022 and 2021 (see note 1 to the first table of note 7.2). EUR 0.4 million of the total provision in relation to the LTIPs will be settled in 2023 (2021: EUR 2.3 million).    The movement in the provisions in connection with the LTIPs recognized in the income statement amounted to an expense of EUR 0.7 million in 2022 (2021: expense of EUR 0.7 million). Reference is also made to note 7.2.  ",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfSharebasedPaymentArrangementsExplanatory",
    "language": "en",
    "entity": "scheme:724500UL634GFV1KYF10",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
   }
  },
  "pp-value-1-4": {
   "value": "1 2022 Executive Board remuneration entitlements    and IFRS costs (audited) for the company      Fixed Compensation   Variable compensation                        Proportion actual Pension    Short-term    Long-term    fixed vs variable 2  3     Annual base salary  contributions Other incentive plan  incentive  Total  compensation (%)                                4  5  In EUR     2022   2021   2022   2021   2022   2021   2022 2021 2022   2021   2022   2021   2022   2021  6                             D.J.M. Richelle       7  entitlement   30  1.387  65.7%  700  n/a  189  n/a  22  n/a  446    n/a    n/a  n/a  n/a      8     184             1.541   34.3%    costs F. Eulderink                                 9  10  entitlement     329 458  1.477 1.639   56.2%   46.1%  597  568  233  186  1  1  317    426    11   12  costs     439         570  1.587 1.751   43.8%   53.9%  13                             M.E.G. Gilsing                  7           entitlement   27  984    68.9%  525  n/a  144  n/a  9  n/a  279  n/a  n/a  n/a  n/a      8     137                     1.094     31.1%        costs Former Executive Board members                               14                               E.M. Hoekstra            9  10  entitlement    119    12   527 736   646   2.339   18.4%   39.8%  n/a  746  n/a  174   n/a    671  15  15   11, 15  12   costs    -/-65           196       -/-65 1,734   -/-130   3.521   81.6%   60.2%  16                               G.B. Paulides   9  10  entitlement    157   9   320 426   785   1.563   49.7%   45.5%  189  568  44  134  75    426  17  17   11, 17  12  costs    -/-160     833    245 832   395   2.793   50.3%   54.5%  Total entitlements    308   22  1.233   1.620   5.279 5.541   55.5%   43.3%  2.011  1.882  610  494  1.117  1.523  Total costs    -/-193   1.030   940   3.136   4.487   8.065   44.5%   56.7%        1  Entitlements are defined as (i) payments in cash, i.e. the fixed remuneration (annual base salary, and any fixed allowances in cash), and the short-term variable incentive in cash which relates to the performance year 2022 and which will be paid out in 2023; (ii) the monetary value of the long-term variable incentive in shares of which the performance period ended on 31 December, 2022 (under 2020 \u2013 2022 Executive Board Long-Term Share Plan), and which is scheduled to vest in 2023; (iii) the monetary value of the retirement benefits provided under the company pension arrangements; and (iv) the monetary value of any other remuneration provided to (former) Executive Board during or related to the financial year.  2  For Executive Board members who were in service prior to January 1, 2015 (in 2022: Frits Eulderink and Eelco Hoekstra), the difference between the Vopak contributions to the current pension plan and the Vopak contributions to the pension arrangement in place prior to January 1, 2015, is compensated for by a separate pension contribution allowance paid out to the individual, subject to statutory tax withholdings. The gross value of these allowances is included in the pension contributions as stated in this table.  3  The column \u2018Other\u2019 includes certain perquisites provided to individual Executive Board members in 2022, such as a life-cycle allowance and an employer contribution to the Dutch statutory health insurance. The IFRS costs shown in this column are excluding the annual employer contributions to the Dutch social security. For Dick Richelle, Frits Eulderink, and Michiel Gilsing, the 2022 employer social security contributions amounted to EUR 13K (2021: EUR 13K). For Eelco Hoekstra, and Gerard Paulides, the 2022 employer social security contributions amounted to EUR 1K and 7K respectively (2021: EUR 13K).  4  This is the STIP related to the 2022 performance year which will be paid out in 2023.   5  This is the STIP related to the 2021 performance year which was paid out in 2022.  6  Dick Richelle was appointed as Chairman of the Executive Board and CEO as of 1 January, 2022. His remuneration entitlements before this time are not included in this table as these did not relate to his Executive Board membership.  7  In 2020, Dick Richelle and Michiel Gilsing received conditional awards of performance shares under the company\u2019s 2020 \u2013 2022 Long-Term Incentive Plan program for senior executives and other key managers. These shares are scheduled to vest in April 2023. The entitlements shown in this table represent the value at 31 December, 2022 of a prorated part of their total awards made to the under this program based on the performance realized and the closing share price at 31 December, 2022 of EUR 27.75. The proration is based on that part of the entire 3-year performance period that relates to the period during which they were a member of the Executive Board in 2022, that is 1/3 of the total award.  8  This amount reflects the recognized IFRS costs accrued by the company during the financial year 2022 for the prorated parts of the unvested performance shares awarded conditionally to Dick Richelle and Michiel Gilsing under the company\u2019s 2020 \u2013 2022 and 2021 \u2013 2023 Long-Term Incentive Plan programs for senior executives and other key managers (whereby the proration is based on that part of the entire 3-year performance period that relates to the period during which they are a member of the Executive Board in 2022), and for the unvested performance shares awarded conditionally to them under the 2022 \u2013 2024 Executive Board Long-Term Share Plan.  9  This is the value at 31 December, 2022 of the performance shares awarded under the 2020 \u2013 2022 Executive Board Long-Term Share Plan based on the performance realized and the closing share price at 31 December, 2022 of EUR 27.75. These shares are scheduled to vest in April 2023.  10  This is the value of the performance shares awarded under the 2019 \u2013 2021 Executive Board Long-Term Share Plan based on the performance realized and the closing share price at 31 December 2020 of EUR 42.99. These shares vested  in April 2022 based on a share price of EUR 29.32, resulting in the following values at the date of vesting: Frits Eulderink: EUR 436,458; Eelco Hoekstra: EUR 700,689; and Gerard Paulides: EUR 405,202. These values are also shown in the table \u20182022 movements in outstanding LTSP awards made to the Executive Board\u2019 in this Remuneration report.  11  This amount reflects the recognized IFRS costs accrued by the company during the financial year 2022 for the unvested performance shares awarded conditionally to individual Executive Board members under the Long-Term Share Plans 2020 \u2013 2022, 2021 \u2013 2023, and 2022 - 2024.  12  This amount reflects the recognized IFRS costs accrued by the company during the financial year 2021 for the unvested performance shares awarded conditionally to individual Executive Board members under Long-Term Share Plans 2019 \u2013 2021, 2020 \u2013 2022, and 2021 - 2023.  13  Michiel Gilsing was appointed as member of the Executive Board and CFO on 20 April, 2022. His remuneration entitlements related to the period 1 January - 20 April, 2022 are also included in the 2022 figures. His remuneration entitlements before this time are not included in this table as these did not relate to his Executive Board membership.  14  Eelco Hoekstra left the company on 31 January, 2022 as a result of his (reduced) notice period which ended on that date. In 2021, he continued to be paid in line with Vopak\u2019s Executive Board remuneration policy until the end of his service on 31 December, 2021. In January 2022, he received the fixed part of his package only. Governed by the Executive Board Long-Term Incentive Plan Rules and the discretionary decision by the Supervisory Board, Eelco Hoekstra remains eligible for full vesting of the unvested performance shares awarded conditionally to him under the Executive Board Long-Term Share Plans 2019 \u2013 2021, 2020 - 2022 and 2021 \u2013 2023; no accelerated vesting was applied.  15  The IFRS costs shown in the columns \u2018Other\u2019 and \u2018Long-term incentive\u2019 in this table for Eelco Hoekstra include the costs in 2022 versus 2021 which the company incurred in relation to his Board services, as well as the actual costs which the company incurred in 2022 and is projected to incur in 2023, and 2024 in relation to the termination of his Board appointment on 1 January, 2022. Under IFRS, the costs that occur after the termination of his Board appointment, i.e. after the date of the termination of his services to the company (i.e.31 December 2021) were accelerated in 2021 on an accrual basis. The 2022 IFRS Costs amount shown in the column \u2018Other\u2019 includes a recalculation of the accrual made in 2021 to reflect for the actual costs incurred in 2022 and a reassessment of any future costs to incur in 2023 and 2024. As a result, the 2022 IFRS costs also include an adjustment to the earlier accrual. The accelerated costs for the unvested 2020 \u2013 2022 and 2021 \u2013 2023 Executive Board Long-Term Share Plan awards which are expected to vest in 2023 and 2024, respectively, are based on modelled vesting results, which were reassessed in 2022. The 2022 IFRS costs also include a recalculation of the earlier accrual for the actual and projected tax levy as required under the Dutch income tax law 32ba/ 32bb regarding excessive severance payments (\u2018pseudo-eindheffing excessieve vertrekvergoedingen\u2019) on the payments and vestings to Eelco Hoekstra in 2022 \u2013 2024.  In 2022, this tax levy was nil.16  Gerard Paulides continued to be paid in line with Vopak\u2019s Executive Board remuneration policy until the end of his scheduled Board appointment on 20 April, 2022. He remained available to the incoming CFO and to the Royal Vopak Board to assist with the transition and left Royal Vopak on 30 June, 2022. From April 21 until 30 June, 2022, he received compensation equal to the fixed part of his package only; as this compensation does not relate to his Executive Board membership, it is included in the column \u2018Other\u2019 in this table. He is eligible for a prorated award under the 2022 \u2013 2024 Executive Board Long-Term Share Plan for the period of January to April, 2022. Governed by the Executive Board Long-Term Incentive Plan Rules and the decision by the Supervisory Board, Gerard Paulides remains also eligible for full vesting of the unvested performance shares awarded conditionally to him under the Executive Board Long-Term Share Plans 2020 \u2013 2022 and 2021 \u2013 2023. No accelerated vesting applies.  17  The IFRS costs shown in the columns \u2018Other\u2019 and \u2018Long-term incentive\u2019 in this table for Gerard Paulides include the costs in 2022 versus 2021 which the company incurred in relation to his Board services, as well as the actual costs which the company incurred in 2022 after 20 April, 2022 and is projected to incur in 2023, 2024, and 2025 in relation to the termination of his Board appointment on 20 April, 2022. Under IFRS, the costs that occur after the termination of his Board appointment, i.e. after the date of the termination of his services to the company (i.e. 20 April, 2022) were accelerated in 2021 on an accrual basis. The 2022 IFRS Costs amount shown in the column \u2018Other\u2019 includes a recalculation of the accrual made in 2021 to reflect for the actual costs incurred in 2022 and a reassessment of any future costs to incur in 2023, 2024, and 2025. As a result, the 2022 IFRS costs also include an adjustment to the earlier accrual. The accelerated costs for the unvested 2020 \u2013 2022 and 2021 \u2013 2023 Executive Board Long-Term Share Plan awards that which are expected to vest in 2023 and 2024, respectively, are based on modelled vesting results, which were reassessed in 2022.  The 2022 IFRS costs also include a recalculation of the earlier accrual for the actual and projected tax levy as required under the Dutch income tax law 32ba/ 32bb regarding excessive severance payments (\u2018pseudo-eindheffing excessieve vertrekvergoedingen\u2019) on the payments and vestings to Gerard Paulides in 2022 \u2013 2025.  In 2022, this tax levy was 84K.  2022 Supervisory Board remuneration (audited) \u00b9 \u00b2  Super-Selection and Remu-visory Audit Appointment neration Total Total In EUR 1,000  Board  Committee  Committee  Committee  2022  2021  B.J. Noteboom (Chairman)   97.5   n/a   7.0   7.0   111. 5    111.5   M.F. Groot (Vice-Chairman)   65.0   8.5   5.0   n/a   78.5   78.5  L.J.I. Foufopoulos \u2013    De Ridder (member)   65.0   8.5   n/a   7.0   80.5   80.5  3  N. Giadrossi (member) 65.0   8.5   n/a   10.0   83.5   82.5  4  R.M. Hookway (member) 65.0   8.5   n/a   n/a   73.5   81.5  B. van der Veer (member)   65.0   15.0   n/a   n/a   80.0   80.0  Former Supervisory Board members   5  R.G.M. Zwitserloot (member) n/a   n/a   n/a   n/a   n/a   25.0  Total   422.5   49.0   12.0   24.0   507.5   539.5  1  Reimbursements of actual expenses made by individual Supervisory Board members are not included in this table as these do not qualify as remuneration.  2  Amounts stated are gross, and excluding VAT, where applicable.  3  Nicoletta Giadrossi is Chair of the Remuneration Committee since 21 April, 2021, which is reflected in the total 2021 fees shown in this table.  4  Richard Hookway was appointed as a member of the Supervisory Board, and as a member of the Audit Committee on 21 April 2021. The 2021 fees shown in this table include an amount of EUR 32,500 which was provided to him as compensation for his activities for the Supervisory Board prior to his appointment.  5  Rien Zwitserloot stepped down as a member of the Supervisory Board, and Chair of the Remuneration Committee on 21 April, 2021.  Note 7.3 Related parties  Transactions with Supervisory Board members and Executive Board members  For the remuneration of Supervisory Board members and Executive Board members, the key management of the Group, reference is made to the sections Remuneration of the Supervisory Board in 2022 and Executive Board Remuneration in 2022 of the Remuneration report, which are deemed part of these financial statements.  No loans, advances or guarantees have been provided to current or former members of the Supervisory Board and the Executive Board.  For both years presented, the Group has not conducted any transactions with companies in which Executive Board members and/or persons closely related to them have a significant financial interest.  Transactions with joint ventures and associates   The transactions with our joint ventures and associates, other than providing equity and receiving dividends, principally consist of fees for services provided by the Group, loans issued by the Group and the related interest income.    Joint ventures   Associates   Total              In EUR millions   2022   2021   2022   2021   2022   2021Other operating income   15.8   13.6   0.9   0.3   16.7   13.9  Transactions with major shareholders  Besides the annual dividend distribution, no material related party transactions have been entered into with the major shareholders during the years presented.  Vopak has been informed by HAL Holding N.V. (\u2018HAL\u2019), that it is technically required for HAL to consolidate Vopak in its Consolidated financial statements as from 1 January 2014. Accordingly, HAL has requested Vopak to provide detailed accounting information with respect to the Consolidated financial statements in order for HAL to be able to consolidate Vopak in its Consolidated statements. To facilitate HAL in complying with its obligations under IFRS 10, a Memorandum of Understanding was signed between Vopak and HAL with respect to confidentiality, the process of exchanging information, subsequent events procedures, external auditor involvement and attendance rights to the Audit Committee meetings for an independent financial expert on behalf of HAL.  Transactions with pension funds   Related party transactions with Vopak\u2019s pension funds are presented in note 9.4.  ",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfRelatedPartyExplanatory",
    "language": "en",
    "entity": "scheme:724500UL634GFV1KYF10",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
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  },
  "pp-value-1-5": {
   "value": "1 2022 Executive Board remuneration entitlements    and IFRS costs (audited) for the company      Fixed Compensation   Variable compensation                        Proportion actual Pension    Short-term    Long-term    fixed vs variable 2  3     Annual base salary  contributions Other incentive plan  incentive  Total  compensation (%)                                4  5  In EUR     2022   2021   2022   2021   2022   2021   2022 2021 2022   2021   2022   2021   2022   2021  6                             D.J.M. Richelle       7  entitlement   30  1.387  65.7%  700  n/a  189  n/a  22  n/a  446    n/a    n/a  n/a  n/a      8     184             1.541   34.3%    costs F. Eulderink                                 9  10  entitlement     329 458  1.477 1.639   56.2%   46.1%  597  568  233  186  1  1  317    426    11   12  costs     439         570  1.587 1.751   43.8%   53.9%  13                             M.E.G. Gilsing                  7           entitlement   27  984    68.9%  525  n/a  144  n/a  9  n/a  279  n/a  n/a  n/a  n/a      8     137                     1.094     31.1%        costs Former Executive Board members                               14                               E.M. Hoekstra            9  10  entitlement    119    12   527 736   646   2.339   18.4%   39.8%  n/a  746  n/a  174   n/a    671  15  15   11, 15  12   costs    -/-65           196       -/-65 1,734   -/-130   3.521   81.6%   60.2%  16                               G.B. Paulides   9  10  entitlement    157   9   320 426   785   1.563   49.7%   45.5%  189  568  44  134  75    426  17  17   11, 17  12  costs    -/-160     833    245 832   395   2.793   50.3%   54.5%  Total entitlements    308   22  1.233   1.620   5.279 5.541   55.5%   43.3%  2.011  1.882  610  494  1.117  1.523  Total costs    -/-193   1.030   940   3.136   4.487   8.065   44.5%   56.7%        1  Entitlements are defined as (i) payments in cash, i.e. the fixed remuneration (annual base salary, and any fixed allowances in cash), and the short-term variable incentive in cash which relates to the performance year 2022 and which will be paid out in 2023; (ii) the monetary value of the long-term variable incentive in shares of which the performance period ended on 31 December, 2022 (under 2020 \u2013 2022 Executive Board Long-Term Share Plan), and which is scheduled to vest in 2023; (iii) the monetary value of the retirement benefits provided under the company pension arrangements; and (iv) the monetary value of any other remuneration provided to (former) Executive Board during or related to the financial year.  2  For Executive Board members who were in service prior to January 1, 2015 (in 2022: Frits Eulderink and Eelco Hoekstra), the difference between the Vopak contributions to the current pension plan and the Vopak contributions to the pension arrangement in place prior to January 1, 2015, is compensated for by a separate pension contribution allowance paid out to the individual, subject to statutory tax withholdings. The gross value of these allowances is included in the pension contributions as stated in this table.  3  The column \u2018Other\u2019 includes certain perquisites provided to individual Executive Board members in 2022, such as a life-cycle allowance and an employer contribution to the Dutch statutory health insurance. The IFRS costs shown in this column are excluding the annual employer contributions to the Dutch social security. For Dick Richelle, Frits Eulderink, and Michiel Gilsing, the 2022 employer social security contributions amounted to EUR 13K (2021: EUR 13K). For Eelco Hoekstra, and Gerard Paulides, the 2022 employer social security contributions amounted to EUR 1K and 7K respectively (2021: EUR 13K).  4  This is the STIP related to the 2022 performance year which will be paid out in 2023.   5  This is the STIP related to the 2021 performance year which was paid out in 2022.  6  Dick Richelle was appointed as Chairman of the Executive Board and CEO as of 1 January, 2022. His remuneration entitlements before this time are not included in this table as these did not relate to his Executive Board membership.  7  In 2020, Dick Richelle and Michiel Gilsing received conditional awards of performance shares under the company\u2019s 2020 \u2013 2022 Long-Term Incentive Plan program for senior executives and other key managers. These shares are scheduled to vest in April 2023. The entitlements shown in this table represent the value at 31 December, 2022 of a prorated part of their total awards made to the under this program based on the performance realized and the closing share price at 31 December, 2022 of EUR 27.75. The proration is based on that part of the entire 3-year performance period that relates to the period during which they were a member of the Executive Board in 2022, that is 1/3 of the total award.  8  This amount reflects the recognized IFRS costs accrued by the company during the financial year 2022 for the prorated parts of the unvested performance shares awarded conditionally to Dick Richelle and Michiel Gilsing under the company\u2019s 2020 \u2013 2022 and 2021 \u2013 2023 Long-Term Incentive Plan programs for senior executives and other key managers (whereby the proration is based on that part of the entire 3-year performance period that relates to the period during which they are a member of the Executive Board in 2022), and for the unvested performance shares awarded conditionally to them under the 2022 \u2013 2024 Executive Board Long-Term Share Plan.  9  This is the value at 31 December, 2022 of the performance shares awarded under the 2020 \u2013 2022 Executive Board Long-Term Share Plan based on the performance realized and the closing share price at 31 December, 2022 of EUR 27.75. These shares are scheduled to vest in April 2023.  10  This is the value of the performance shares awarded under the 2019 \u2013 2021 Executive Board Long-Term Share Plan based on the performance realized and the closing share price at 31 December 2020 of EUR 42.99. These shares vested  in April 2022 based on a share price of EUR 29.32, resulting in the following values at the date of vesting: Frits Eulderink: EUR 436,458; Eelco Hoekstra: EUR 700,689; and Gerard Paulides: EUR 405,202. These values are also shown in the table \u20182022 movements in outstanding LTSP awards made to the Executive Board\u2019 in this Remuneration report.  11  This amount reflects the recognized IFRS costs accrued by the company during the financial year 2022 for the unvested performance shares awarded conditionally to individual Executive Board members under the Long-Term Share Plans 2020 \u2013 2022, 2021 \u2013 2023, and 2022 - 2024.  12  This amount reflects the recognized IFRS costs accrued by the company during the financial year 2021 for the unvested performance shares awarded conditionally to individual Executive Board members under Long-Term Share Plans 2019 \u2013 2021, 2020 \u2013 2022, and 2021 - 2023.  13  Michiel Gilsing was appointed as member of the Executive Board and CFO on 20 April, 2022. His remuneration entitlements related to the period 1 January - 20 April, 2022 are also included in the 2022 figures. His remuneration entitlements before this time are not included in this table as these did not relate to his Executive Board membership.  14  Eelco Hoekstra left the company on 31 January, 2022 as a result of his (reduced) notice period which ended on that date. In 2021, he continued to be paid in line with Vopak\u2019s Executive Board remuneration policy until the end of his service on 31 December, 2021. In January 2022, he received the fixed part of his package only. Governed by the Executive Board Long-Term Incentive Plan Rules and the discretionary decision by the Supervisory Board, Eelco Hoekstra remains eligible for full vesting of the unvested performance shares awarded conditionally to him under the Executive Board Long-Term Share Plans 2019 \u2013 2021, 2020 - 2022 and 2021 \u2013 2023; no accelerated vesting was applied.  15  The IFRS costs shown in the columns \u2018Other\u2019 and \u2018Long-term incentive\u2019 in this table for Eelco Hoekstra include the costs in 2022 versus 2021 which the company incurred in relation to his Board services, as well as the actual costs which the company incurred in 2022 and is projected to incur in 2023, and 2024 in relation to the termination of his Board appointment on 1 January, 2022. Under IFRS, the costs that occur after the termination of his Board appointment, i.e. after the date of the termination of his services to the company (i.e.31 December 2021) were accelerated in 2021 on an accrual basis. The 2022 IFRS Costs amount shown in the column \u2018Other\u2019 includes a recalculation of the accrual made in 2021 to reflect for the actual costs incurred in 2022 and a reassessment of any future costs to incur in 2023 and 2024. As a result, the 2022 IFRS costs also include an adjustment to the earlier accrual. The accelerated costs for the unvested 2020 \u2013 2022 and 2021 \u2013 2023 Executive Board Long-Term Share Plan awards which are expected to vest in 2023 and 2024, respectively, are based on modelled vesting results, which were reassessed in 2022. The 2022 IFRS costs also include a recalculation of the earlier accrual for the actual and projected tax levy as required under the Dutch income tax law 32ba/ 32bb regarding excessive severance payments (\u2018pseudo-eindheffing excessieve vertrekvergoedingen\u2019) on the payments and vestings to Eelco Hoekstra in 2022 \u2013 2024.  In 2022, this tax levy was nil.16  Gerard Paulides continued to be paid in line with Vopak\u2019s Executive Board remuneration policy until the end of his scheduled Board appointment on 20 April, 2022. He remained available to the incoming CFO and to the Royal Vopak Board to assist with the transition and left Royal Vopak on 30 June, 2022. From April 21 until 30 June, 2022, he received compensation equal to the fixed part of his package only; as this compensation does not relate to his Executive Board membership, it is included in the column \u2018Other\u2019 in this table. He is eligible for a prorated award under the 2022 \u2013 2024 Executive Board Long-Term Share Plan for the period of January to April, 2022. Governed by the Executive Board Long-Term Incentive Plan Rules and the decision by the Supervisory Board, Gerard Paulides remains also eligible for full vesting of the unvested performance shares awarded conditionally to him under the Executive Board Long-Term Share Plans 2020 \u2013 2022 and 2021 \u2013 2023. No accelerated vesting applies.  17  The IFRS costs shown in the columns \u2018Other\u2019 and \u2018Long-term incentive\u2019 in this table for Gerard Paulides include the costs in 2022 versus 2021 which the company incurred in relation to his Board services, as well as the actual costs which the company incurred in 2022 after 20 April, 2022 and is projected to incur in 2023, 2024, and 2025 in relation to the termination of his Board appointment on 20 April, 2022. Under IFRS, the costs that occur after the termination of his Board appointment, i.e. after the date of the termination of his services to the company (i.e. 20 April, 2022) were accelerated in 2021 on an accrual basis. The 2022 IFRS Costs amount shown in the column \u2018Other\u2019 includes a recalculation of the accrual made in 2021 to reflect for the actual costs incurred in 2022 and a reassessment of any future costs to incur in 2023, 2024, and 2025. As a result, the 2022 IFRS costs also include an adjustment to the earlier accrual. The accelerated costs for the unvested 2020 \u2013 2022 and 2021 \u2013 2023 Executive Board Long-Term Share Plan awards that which are expected to vest in 2023 and 2024, respectively, are based on modelled vesting results, which were reassessed in 2022.  The 2022 IFRS costs also include a recalculation of the earlier accrual for the actual and projected tax levy as required under the Dutch income tax law 32ba/ 32bb regarding excessive severance payments (\u2018pseudo-eindheffing excessieve vertrekvergoedingen\u2019) on the payments and vestings to Gerard Paulides in 2022 \u2013 2025.  In 2022, this tax levy was 84K.  2022 Supervisory Board remuneration (audited) \u00b9 \u00b2  Super-Selection and Remu-visory Audit Appointment neration Total Total In EUR 1,000  Board  Committee  Committee  Committee  2022  2021  B.J. Noteboom (Chairman)   97.5   n/a   7.0   7.0   111. 5    111.5   M.F. Groot (Vice-Chairman)   65.0   8.5   5.0   n/a   78.5   78.5  L.J.I. Foufopoulos \u2013    De Ridder (member)   65.0   8.5   n/a   7.0   80.5   80.5  3  N. Giadrossi (member) 65.0   8.5   n/a   10.0   83.5   82.5  4  R.M. Hookway (member) 65.0   8.5   n/a   n/a   73.5   81.5  B. van der Veer (member)   65.0   15.0   n/a   n/a   80.0   80.0  Former Supervisory Board members   5  R.G.M. Zwitserloot (member) n/a   n/a   n/a   n/a   n/a   25.0  Total   422.5   49.0   12.0   24.0   507.5   539.5  1  Reimbursements of actual expenses made by individual Supervisory Board members are not included in this table as these do not qualify as remuneration.  2  Amounts stated are gross, and excluding VAT, where applicable.  3  Nicoletta Giadrossi is Chair of the Remuneration Committee since 21 April, 2021, which is reflected in the total 2021 fees shown in this table.  4  Richard Hookway was appointed as a member of the Supervisory Board, and as a member of the Audit Committee on 21 April 2021. The 2021 fees shown in this table include an amount of EUR 32,500 which was provided to him as compensation for his activities for the Supervisory Board prior to his appointment.  5  Rien Zwitserloot stepped down as a member of the Supervisory Board, and Chair of the Remuneration Committee on 21 April, 2021.   Note 2.5 Personnel expenses  A Accounting policies Short-term employee benefits: wages, salaries, social security contributions, annual leave and sickness absenteeism, incentives and non-monetary benefits are recognized in the year in which the related services are rendered by employees. Termination benefits are payable when employment is terminated by the Group before the normal retirement date, or whenever an employee accepts voluntary redundancy in exchange for these benefits. The Group recognizes termination benefits at the earlier of the following dates: (a) when the Group can no longer withdraw the offer of those benefits; and (b) when the Group recognizes a restructuring provision that involves the payment of termination benefits. The Group recognizes a provision for incentive plans where contractually obliged or where there is a past practice that has created a constructive obligation. For the accounting policies related to share-based compensation, other types of remuneration and pensions and other employee benefits reference is made to note 7.2 and note 9.4. Capitalized personnel expenses: costs of employee benefits arising directly from the construction of Intangible assets or Property, plant and equipment and which meet the recognition criteria, are capitalized as part of the cost of the asset concerned. Personnel expenses In EUR millions  Note  2022  2021Wages and salaries  308.5  300.1 Social security charges  39.4  36.4 Contribution to pension schemes (defined contribution)  35.5  31.8 Pension charges (defined benefit plans)  9.4  7.6  7.4 Long-term incentive plans  7.2  4.0  8.5 Early retirement  6.2  4.7 Other personnel expenses  23.0  20.5 Capitalized personnel expenses  - 59.3  - 66.7 Total  364.9  342.7 There were no individually material items recognized in Personnel expenses in 2021 nor in 2022. For the impact of the change in board composition, reference is made to the Remuneration report. Average number of employees (in FTEs) During the year under review, the Group employed on average 4,061 employees and temporary staff (in FTEs) (2021: 4,250). The movements in the number of own employees at subsidiaries (in FTEs) were as follows: In FTEs  2022  2021 Number at 1 January  3,730  3,713 Joiners  572  475 Leavers  - 554  - 458 Divestment/deconsolidation  - 276  \u2013 Number at 31 December  3,472  3,730 Note 2.6 Other operating expenses  A Accounting policies Operating expenses are recognized in the income statement when incurred, e.g. when services are received or goods are consumed. In addition, operating expenses can result from a decrease in future economic benefits related to a decrease of an asset or an increase of a liability that has arisen and which can be measured reliably.   Losses on the sale of assets are presented under Other operating expenses and are recognized as soon as they are foreseen. Costs relating to the identification and selection phases of business development projects are recognized in the statement of income in the year in which the costs are incurred. Other operating expenses In EUR millions  2022  2021Maintenance  54.8  54.1 Energy and utilities  86.9  49.2 Environmental, safety and cleaning  49.2  37.9 Advisory fees  22.2  23.8 Insurance  19.3  14.2 Rents and rates  25.4  22.2 Third party logistics  10.5  12.2 IT  29.0  33.8 Lease expenses - variable expenses, short and low value leases  4.0  5.7 Other  54.2  33.0 Total  355.5  286.1 2022 Divestment CRL terminal in India  In May 2022, as a result of the loss of control of Vopak\u2019s CRL terminal in Kandla, India, an exceptional divestment loss of EUR 6.0 million was recorded in the line item Other. The purchase consideration including deferred and contingent components amounted to approximately EUR 39.3 million, with net cash proceeds in the first half of 2022 of EUR 23.9 million. The deferred and contingent components are expected to be received in 2025.  Business development expenses  Business development expenses for an amount of EUR 1.0 million related to an opportunity which was assessed as unlikely to be realized and have been recorded as an Other exceptional expense. There were no other individually material items recognized in Other operating expenses in 2022. 2021 Divestment Jubail Chemicals Storage and Services Company  In the fourth quarter of 2021 an exceptional loss of EUR 0.7 million was recorded related to a partial divestment of a 3% equity stake in the terminal Jubail Chemicals Storage and Services Company (JCSSC) located in Saudi Arabia. After divestment Vopak holds a 22% equity stake in this associate.   There were no other individually material items recognized in Other operating expenses in 2021. Note 3.7 Depreciation and amortization A Accounting policies The expected useful life of software intangible assets is normally subject to a maximum of seven years. Amortization of other intangible assets and licenses is based on the term of the validity of the contract or term of the validity period and varies from 5-30 years. Depreciation of property, plant and equipment is computed from the date the asset is available for use, using the straight-line method over the expected useful life and taking the estimated residual value into account. The useful life of the main assets is as follows: \u2022  for buildings 10-40 years \u2022  for main components of tank storage terminals 10-40 years \u2022  for IT hardware 3-5 years \u2022  for machinery, equipment and fixtures 3-10 years.  \u2022  Land is not depreciated.  The residual value and useful life of intangible assets and property, plant and equipment are reviewed annually and adjusted if necessary. For the accounting policies related to the amortization of the right-of-use assets recognized in relation to the leases of the Group, reference is made to note 3.4. Key accounting estimates and judgments Useful life and residual value of property, plant and equipment  Property, plant and equipment form a substantial part of the total assets of the company, while periodic depreciation charges form a substantial part of the annual operating expenses. The useful life and residual value determined by the Executive Board based on its estimates and assumptions have a major impact on the measurement and determination of results of property, plant and equipment. The useful life of property, plant and equipment is partly estimated based on their useful productive lives, experiences related to such assets, the maintenance history and the period during which the company has the economic benefits from the utilization of the assets. Climate change, including associated legislation, may affect how, or for how long, items of property, plant and equipment may be used. However most climate-related physical risks are expected to manifest over a term that is generally longer than the maturity of most of the outstanding exposures. Periodic reviews show whether changes have occurred in estimates and assumptions as a result of which the useful life and/or residual value need to be adjusted accordingly. Such an adjustment is made prospectively.   For the key accounting estimates and judgments made with regards to the right-of-use assets recognized in relation to the leases of the Group, reference is made to note 3.4. Depreciation and amortization In EUR millions  Note  2022  2021 Amortization intangible assets  3.2  20.7  17.6 Depreciation owned assets  3.3  277.3  274.3 Depreciation right-of-use assets  3.4  41.9  39.9 Total  339.9  331.8 ",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfExpensesExplanatory",
    "language": "en",
    "entity": "scheme:724500UL634GFV1KYF10",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
   }
  },
  "pp-value-1-6": {
   "value": "1 2022 Executive Board remuneration entitlements    and IFRS costs (audited) for the company      Fixed Compensation   Variable compensation                        Proportion actual Pension    Short-term    Long-term    fixed vs variable 2  3     Annual base salary  contributions Other incentive plan  incentive  Total  compensation (%)                                4  5  In EUR     2022   2021   2022   2021   2022   2021   2022 2021 2022   2021   2022   2021   2022   2021  6                             D.J.M. Richelle       7  entitlement   30  1.387  65.7%  700  n/a  189  n/a  22  n/a  446    n/a    n/a  n/a  n/a      8     184             1.541   34.3%    costs F. Eulderink                                 9  10  entitlement     329 458  1.477 1.639   56.2%   46.1%  597  568  233  186  1  1  317    426    11   12  costs     439         570  1.587 1.751   43.8%   53.9%  13                             M.E.G. Gilsing                  7           entitlement   27  984    68.9%  525  n/a  144  n/a  9  n/a  279  n/a  n/a  n/a  n/a      8     137                     1.094     31.1%        costs Former Executive Board members                               14                               E.M. Hoekstra            9  10  entitlement    119    12   527 736   646   2.339   18.4%   39.8%  n/a  746  n/a  174   n/a    671  15  15   11, 15  12   costs    -/-65           196       -/-65 1,734   -/-130   3.521   81.6%   60.2%  16                               G.B. Paulides   9  10  entitlement    157   9   320 426   785   1.563   49.7%   45.5%  189  568  44  134  75    426  17  17   11, 17  12  costs    -/-160     833    245 832   395   2.793   50.3%   54.5%  Total entitlements    308   22  1.233   1.620   5.279 5.541   55.5%   43.3%  2.011  1.882  610  494  1.117  1.523  Total costs    -/-193   1.030   940   3.136   4.487   8.065   44.5%   56.7%        1  Entitlements are defined as (i) payments in cash, i.e. the fixed remuneration (annual base salary, and any fixed allowances in cash), and the short-term variable incentive in cash which relates to the performance year 2022 and which will be paid out in 2023; (ii) the monetary value of the long-term variable incentive in shares of which the performance period ended on 31 December, 2022 (under 2020 \u2013 2022 Executive Board Long-Term Share Plan), and which is scheduled to vest in 2023; (iii) the monetary value of the retirement benefits provided under the company pension arrangements; and (iv) the monetary value of any other remuneration provided to (former) Executive Board during or related to the financial year.  2  For Executive Board members who were in service prior to January 1, 2015 (in 2022: Frits Eulderink and Eelco Hoekstra), the difference between the Vopak contributions to the current pension plan and the Vopak contributions to the pension arrangement in place prior to January 1, 2015, is compensated for by a separate pension contribution allowance paid out to the individual, subject to statutory tax withholdings. The gross value of these allowances is included in the pension contributions as stated in this table.  3  The column \u2018Other\u2019 includes certain perquisites provided to individual Executive Board members in 2022, such as a life-cycle allowance and an employer contribution to the Dutch statutory health insurance. The IFRS costs shown in this column are excluding the annual employer contributions to the Dutch social security. For Dick Richelle, Frits Eulderink, and Michiel Gilsing, the 2022 employer social security contributions amounted to EUR 13K (2021: EUR 13K). For Eelco Hoekstra, and Gerard Paulides, the 2022 employer social security contributions amounted to EUR 1K and 7K respectively (2021: EUR 13K).  4  This is the STIP related to the 2022 performance year which will be paid out in 2023.   5  This is the STIP related to the 2021 performance year which was paid out in 2022.  6  Dick Richelle was appointed as Chairman of the Executive Board and CEO as of 1 January, 2022. His remuneration entitlements before this time are not included in this table as these did not relate to his Executive Board membership.  7  In 2020, Dick Richelle and Michiel Gilsing received conditional awards of performance shares under the company\u2019s 2020 \u2013 2022 Long-Term Incentive Plan program for senior executives and other key managers. These shares are scheduled to vest in April 2023. The entitlements shown in this table represent the value at 31 December, 2022 of a prorated part of their total awards made to the under this program based on the performance realized and the closing share price at 31 December, 2022 of EUR 27.75. The proration is based on that part of the entire 3-year performance period that relates to the period during which they were a member of the Executive Board in 2022, that is 1/3 of the total award.  8  This amount reflects the recognized IFRS costs accrued by the company during the financial year 2022 for the prorated parts of the unvested performance shares awarded conditionally to Dick Richelle and Michiel Gilsing under the company\u2019s 2020 \u2013 2022 and 2021 \u2013 2023 Long-Term Incentive Plan programs for senior executives and other key managers (whereby the proration is based on that part of the entire 3-year performance period that relates to the period during which they are a member of the Executive Board in 2022), and for the unvested performance shares awarded conditionally to them under the 2022 \u2013 2024 Executive Board Long-Term Share Plan.  9  This is the value at 31 December, 2022 of the performance shares awarded under the 2020 \u2013 2022 Executive Board Long-Term Share Plan based on the performance realized and the closing share price at 31 December, 2022 of EUR 27.75. These shares are scheduled to vest in April 2023.  10  This is the value of the performance shares awarded under the 2019 \u2013 2021 Executive Board Long-Term Share Plan based on the performance realized and the closing share price at 31 December 2020 of EUR 42.99. These shares vested  in April 2022 based on a share price of EUR 29.32, resulting in the following values at the date of vesting: Frits Eulderink: EUR 436,458; Eelco Hoekstra: EUR 700,689; and Gerard Paulides: EUR 405,202. These values are also shown in the table \u20182022 movements in outstanding LTSP awards made to the Executive Board\u2019 in this Remuneration report.  11  This amount reflects the recognized IFRS costs accrued by the company during the financial year 2022 for the unvested performance shares awarded conditionally to individual Executive Board members under the Long-Term Share Plans 2020 \u2013 2022, 2021 \u2013 2023, and 2022 - 2024.  12  This amount reflects the recognized IFRS costs accrued by the company during the financial year 2021 for the unvested performance shares awarded conditionally to individual Executive Board members under Long-Term Share Plans 2019 \u2013 2021, 2020 \u2013 2022, and 2021 - 2023.  13  Michiel Gilsing was appointed as member of the Executive Board and CFO on 20 April, 2022. His remuneration entitlements related to the period 1 January - 20 April, 2022 are also included in the 2022 figures. His remuneration entitlements before this time are not included in this table as these did not relate to his Executive Board membership.  14  Eelco Hoekstra left the company on 31 January, 2022 as a result of his (reduced) notice period which ended on that date. In 2021, he continued to be paid in line with Vopak\u2019s Executive Board remuneration policy until the end of his service on 31 December, 2021. In January 2022, he received the fixed part of his package only. Governed by the Executive Board Long-Term Incentive Plan Rules and the discretionary decision by the Supervisory Board, Eelco Hoekstra remains eligible for full vesting of the unvested performance shares awarded conditionally to him under the Executive Board Long-Term Share Plans 2019 \u2013 2021, 2020 - 2022 and 2021 \u2013 2023; no accelerated vesting was applied.  15  The IFRS costs shown in the columns \u2018Other\u2019 and \u2018Long-term incentive\u2019 in this table for Eelco Hoekstra include the costs in 2022 versus 2021 which the company incurred in relation to his Board services, as well as the actual costs which the company incurred in 2022 and is projected to incur in 2023, and 2024 in relation to the termination of his Board appointment on 1 January, 2022. Under IFRS, the costs that occur after the termination of his Board appointment, i.e. after the date of the termination of his services to the company (i.e.31 December 2021) were accelerated in 2021 on an accrual basis. The 2022 IFRS Costs amount shown in the column \u2018Other\u2019 includes a recalculation of the accrual made in 2021 to reflect for the actual costs incurred in 2022 and a reassessment of any future costs to incur in 2023 and 2024. As a result, the 2022 IFRS costs also include an adjustment to the earlier accrual. The accelerated costs for the unvested 2020 \u2013 2022 and 2021 \u2013 2023 Executive Board Long-Term Share Plan awards which are expected to vest in 2023 and 2024, respectively, are based on modelled vesting results, which were reassessed in 2022. The 2022 IFRS costs also include a recalculation of the earlier accrual for the actual and projected tax levy as required under the Dutch income tax law 32ba/ 32bb regarding excessive severance payments (\u2018pseudo-eindheffing excessieve vertrekvergoedingen\u2019) on the payments and vestings to Eelco Hoekstra in 2022 \u2013 2024.  In 2022, this tax levy was nil.16  Gerard Paulides continued to be paid in line with Vopak\u2019s Executive Board remuneration policy until the end of his scheduled Board appointment on 20 April, 2022. He remained available to the incoming CFO and to the Royal Vopak Board to assist with the transition and left Royal Vopak on 30 June, 2022. From April 21 until 30 June, 2022, he received compensation equal to the fixed part of his package only; as this compensation does not relate to his Executive Board membership, it is included in the column \u2018Other\u2019 in this table. He is eligible for a prorated award under the 2022 \u2013 2024 Executive Board Long-Term Share Plan for the period of January to April, 2022. Governed by the Executive Board Long-Term Incentive Plan Rules and the decision by the Supervisory Board, Gerard Paulides remains also eligible for full vesting of the unvested performance shares awarded conditionally to him under the Executive Board Long-Term Share Plans 2020 \u2013 2022 and 2021 \u2013 2023. No accelerated vesting applies.  17  The IFRS costs shown in the columns \u2018Other\u2019 and \u2018Long-term incentive\u2019 in this table for Gerard Paulides include the costs in 2022 versus 2021 which the company incurred in relation to his Board services, as well as the actual costs which the company incurred in 2022 after 20 April, 2022 and is projected to incur in 2023, 2024, and 2025 in relation to the termination of his Board appointment on 20 April, 2022. Under IFRS, the costs that occur after the termination of his Board appointment, i.e. after the date of the termination of his services to the company (i.e. 20 April, 2022) were accelerated in 2021 on an accrual basis. The 2022 IFRS Costs amount shown in the column \u2018Other\u2019 includes a recalculation of the accrual made in 2021 to reflect for the actual costs incurred in 2022 and a reassessment of any future costs to incur in 2023, 2024, and 2025. As a result, the 2022 IFRS costs also include an adjustment to the earlier accrual. The accelerated costs for the unvested 2020 \u2013 2022 and 2021 \u2013 2023 Executive Board Long-Term Share Plan awards that which are expected to vest in 2023 and 2024, respectively, are based on modelled vesting results, which were reassessed in 2022.  The 2022 IFRS costs also include a recalculation of the earlier accrual for the actual and projected tax levy as required under the Dutch income tax law 32ba/ 32bb regarding excessive severance payments (\u2018pseudo-eindheffing excessieve vertrekvergoedingen\u2019) on the payments and vestings to Gerard Paulides in 2022 \u2013 2025.  In 2022, this tax levy was 84K.  Note 7.1 Remuneration of Board members   Reference is made to the section of the Remuneration report for information regarding the remuneration and related costs of the Supervisory Board members and the Executive Board members.   Costs of long-term incentive plans   LTSP 2022 LTSP 2021 LTSP 2020 LTSP 2019 In EUR thousands   equity-settled   equity-settled   equity-settled   equity-settled   Cash  Plan   Total  2022   Total  2021  D.J.M. Richelle   106.4   27.8   50.1   \u2013   n/a   184.3   \u2013  F. Eulderink   74.2   71.9   231.4   61.8   n/a   439.3   570.2  M.E.G. Gilsing   65.3   26.7   44.9   \u2013   n/a   136.9   \u2013  Members Executive Board  245.9   126.4   326.4   61.8   n/a  760.5   570.2  E.M. Hoekstra   n/a   -  163.3   98.0   \u2013   n/a   -  65.3   1,734.4  G.B. Paulides   70.8   -  3.6   125.3   53.0   n/a   245.5   831.8  Former members Executive Board  70.8   -  166.9   223.3   53.0   n/a   180.2   2,566.2  Other senior executives 232.3   355.4   1,352.4   382.0   717.2   3,039.3   5,393.1  Total   549.0   314.9   1,902.1   496.8   717.2   3,980.0   8,529.5  Incentive opportunities   LTSP  2022   LTSP  2021   LTSP  2020Members Executive Board       D.J.M. Richelle   0% to 165%     F. Eulderink   0% to 135%   0% to 135%   0% to 135%  M.E.G. Gilsing   0% to 135%     Former members Executive Board        E.M. Hoekstra     0% to 165%   0% to 165%  G.B. Paulides   0% to 135%   0% to 135%   0% to 135%  Senior management       Eligible other senior executives 0% to 60%   0% to 60%   0% to 60%         Movements in the number of conditional awards  In numbers   D.J.M.  Richelle   F.  Eulderink   M.E.G.  Gilsing   E.M.  Hoekstra   G.B.  Paulides   Other   Total  Outstanding at 31 December 2020   \u2013   32,436   \u2013   51,577   30,331   200,794   315,138  Vested   \u2013   -  11,235   \u2013   -  17,554   -  10,183   -  59,941   -  98,913  Forfeited   \u2013   \u2013   \u2013   \u2013   \u2013   -  5,393   -  5,393  Newly awarded   \u2013   11,330   \u2013   18,176   11,330   92,717   133,553  Outstanding at 31 December 2021   \u2013   32,531   \u2013   52,199   31,478   228,177   344,385  Vested and settled   \u2013   -  10,826   \u2013   -  17,380   -  10,051   -  54,849   -  93,106  Forfeited   \u2013   \u2013   \u2013   \u2013   \u2013   -  27,212   -  27,212  1  Transferred from other senior executives2,983   \u2013   2,804   \u2013   \u2013   -  5,787   \u2013  Newly awarded   23,280   16,244   14,285   \u2013   5,155   117,768   176,732  Outstanding at 31 December 2022   26,263   37,949   17,089   34,819   26,582   258,097   400,799  1  Previously reported under Other.2   For LTSP 2020, 2021 and 2022, the conditional awards are based on the salary on the date of grant.    Valuation and cost allocation  Long-term incentive plans (LTIPs) valuation (former) Executive Board members and other senior executives  1  2  3    Conditional awards Number of expected shares Allocated cost to               Value at Value for cost In EUR thousands   Number   Value at grant   Number  vesting  allocation   2022   2021               LTSP 2022, equity-settled (conditional)   23,280   595.3   12,513   n/a   320.0   106.4   \u2013  8LTSP  2021, equity-settled (conditional)   2,038   72.0   1,574   n/a   55.6   27.8   \u2013  8LTSP  2020, equity-settled (conditional)   945   43.9   1,079   29.9   50.1   50.1   \u2013  Total outstanding LTIPs - D.J.M. Richelle   26,263   711.2   15,166   29.9   425.7                     6  Total LTIP cost - D.J.M. Richelle           184.3   \u2013                 LTSP 2022, equity-settled (conditional)   16,244   415.4   8,731   n/a   223.3   74.2   \u2013  LTSP 2021, equity-settled (conditional)   11,330   411.3   8,752   n/a   317.7   71.9   139.8  LTSP 2020, equity-settled (conditional)   10,375   500.8   11,848   328.8   571.9   231.4   170.8  Total outstanding LTIPs - F. Eulderink   37,949   1,327.5   29,331   328.8   1,112.9     LTSP 2019, equity-settled (settled)   10,826   450.0   14,886   436.5   618.0   61.8   219.2  LTSP 2018, equity-settled (settled)   11,235   449.1   10,112   403.5   449.1   \u2013   40.4  Total LTIP cost - F. Eulderink             439.3   570.2                 LTSP 2022, equity-settled (conditional)   14,285   365.3   7,678   n/a   196.3   65.3   \u2013  8LTSP  2021, equity-settled (conditional)   1,957   69.2   1,512   n/a   53.4   26.7   \u2013  8LTSP  2020, equity-settled (conditional)   847   39.3   967   26.8   44.9   44.9   \u2013  Total outstanding LTIPs - M.E.G. Gilsing   17,089   473.8   10,157   26.8   294.6                     7  Total LTIP cost - M.E.G. Gilsing           136.9   \u2013                 Total Outstanding LTIPs - members Executive Board   81,301   2,512.5   54,654   385.5   1,833.2      Total LTIP cost - members Executive Board             760.5   570.2                 LTSP 2021, equity-settled (conditional)   18,176   659.8   14,041   n/a   509.7   -  163.3   673.0  LTSP 2020, equity-settled (conditional)   16,643   803.4   19,006   527.4   917.4   98.0   547.1  Total outstanding LTIPs - E.M. Hoekstra   34,819   1,463.2   33,047   527.4   1,427.1      LTSP 2019, equity-settled (settled)   17,380   721.8   23,898   700.7   992.5   \u2013   451.1  LTSP 2018, equity-settled (settled)   17,554   701.7   15,799   630.4   701.7   \u2013   63.2  4  Total LTIP cost - E.M. Hoekstra           -  65.3   1,734.4                 LTSP 2022, equity-settled (conditional)   5,155   131.8   2,771   n/a   70.8   70.8   \u2013  LTSP 2021, equity-settled (conditional)   11,330   411.3   8,752   n/a   317.7   -  3.6   321.3  LTSP 2020, equity-settled (conditional)   10,097   487.4   11,531   320.0   556.6   125.3   266.0  1  2  3   Conditional awards Number of expected shares Allocated cost to               Value at Value for cost In EUR thousands   Number   Value at grant   Number  vesting  allocation   2022   2021  Total outstanding LTIPs - G.B. Paulides   26,582   1,030.5   23,054   320.0   945.1     LTSP 2019, equity-settled (settled)   10,051   417.4   13,820   405.2   573.9   53.0   207.9  LTSP 2018, equity-settled (settled)   10,183   407.0   9,165   365.7   407.0   \u2013   36.6  5  Total LTIP cost - G.B. Paulides           245.5   831.8                 Total outstanding LTIPs - former members Executive Board   61,401   2,493.7   56,101   847.4   2,372.2                     Total LTIP cost - former members Executive Board            180.2   2,566.2                 Total outstanding LTIPs - (former) members Executive Board   142,702   5,006.2   110,755   1,232.9   4,205.4                     Total LTIP cost - (former) members Executive Board            940.7   3,136.4                 LTSP 2022, equity-settled (conditional)   110,538   2,754.1   59,967   n/a   1,494.1   232.3   \u2013  LTSP 2021, equity-settled (conditional)   75,820   2,676.7   58,571   n/a   2,067.9   355.4   1,434.2  LTSP 2020, equity-settled (conditional)   71,739   3,323.7   81,926   2,273.4   3,795.6   1,352.4   1,585.9  Total outstanding LTIPs - other senior executives   258,097   8,754.5   200,464   2,273.4   7,357.6      LTSP 2019, equity-settled (settled)   54,849   2,280.7   75,416   2,211.2   3,136.0   382.0   1,435.5  LTSP 2018, equity-settled (settled)   59,941   2,303.3   53,949   2,319.3   2,303.3   \u2013   198.3  Total LTIP cost - other senior executives             2,322.1   4,653.9                 Total outstanding LTIPs and total LTIP cost   400,799   13,760.7   311,219   3,506.3   11,563.0   3,262.8   7,790.3  1  On a target level of 100%. For LTSPs 2018 and 2019 of the Executive Board, the conditional awards are based on the salary on the date of grant. The value at grant is the conditional number of shares multiplied by the average share price at the grant date.  2  The value for cost allocation for the equity-settled LTSPs is based on the number of expected or vested shares and multiplied by the fair value per share award at the grant date, which has been reduced with the expected discounted future dividends payable during the respective vesting periods since the holders of shares are not entitled to receive dividends during the vesting period. The value for cost allocation for the cash-settled LTSPs is based on the number of expected or vested shares and multiplied by the fair value per award at the reporting date less discounted expected future dividend payments. Expected dividends have been applied in accordance with the dividend policy of the company. The estimated vesting percentages of the LTSPs are based on a Monte Carlo simulation scenario analysis.  3  The (fair) value of the employee services received in exchange for the awards is recognized rateably over the vesting period of the plan.  4  On 19 October 2021, Eelco Hoekstra, Chief Executive Officer and Chairman of the Executive Board has informed the Supervisory Board that he has decided to step down as per 31 December 2021. The recognition of the LTSP 2019, 2020 and 2021 remains fully equity settled for Eelco Hoekstra in accordance with the plan rules. The costs of the LTSP were allocated to the remaining period of service.  5  On 10 December 2021, Gerard Paulides, Chief Financial Officer has informed the Supervisory Board that he has decided to step down as per 20 April 2022. The recognition of the LTSP 2019, 2020 and 2021 remains fully equity settled for    Gerard Paulides in accordance with the plan rules. The costs of the LTSP were allocated to the remaining period of service.  6  Following his appointment in the extraordinary General Meeting on 17 December, 2021, Dick Richelle started his Board membership as Chairman of the Executive Board and CEO on 1 January, 2022.   7  Following the announcement on 10 December, 2021, Michiel Gilsing was appointed as member of the Executive Board and CFO on 20 April, 2022.  8  Previously reported under other senior executives.   Note 7.3 Related parties  Transactions with Supervisory Board members and Executive Board members  For the remuneration of Supervisory Board members and Executive Board members, the key management of the Group, reference is made to the sections Remuneration of the Supervisory Board in 2022 and Executive Board Remuneration in 2022 of the Remuneration report, which are deemed part of these financial statements.  No loans, advances or guarantees have been provided to current or former members of the Supervisory Board and the Executive Board.  For both years presented, the Group has not conducted any transactions with companies in which Executive Board members and/or persons closely related to them have a significant financial interest.  Transactions with joint ventures and associates   The transactions with our joint ventures and associates, other than providing equity and receiving dividends, principally consist of fees for services provided by the Group, loans issued by the Group and the related interest income.  Transactions with major shareholders  Besides the annual dividend distribution, no material related party transactions have been entered into with the major shareholders during the years presented.  Vopak has been informed by HAL Holding N.V. (\u2018HAL\u2019), that it is technically required for HAL to consolidate Vopak in its Consolidated financial statements as from 1 January 2014. Accordingly, HAL has requested Vopak to provide detailed accounting information with respect to the Consolidated financial statements in order for HAL to be able to consolidate Vopak in its Consolidated statements. To facilitate HAL in complying with its obligations under IFRS 10, a Memorandum of Understanding was signed between Vopak and HAL with respect to confidentiality, the process of exchanging information, subsequent events procedures, external auditor involvement and attendance rights to the Audit Committee meetings for an independent financial expert on behalf of HAL.  Transactions with pension funds   Related party transactions with Vopak\u2019s pension funds are presented in note 9.4.  ",
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  "pp-value-6-2": {
   "value": "Note 1.1 Basis of preparation Reporting entity Koninklijke Vopak N.V. (Royal Vopak) has its registered office in Rotterdam (the Netherlands). Vopak is listed on the Euronext Amsterdam. The Consolidated financial statements of the company for the year ending on 31 December 2022 contain the financial figures of the company and its subsidiaries (jointly referred to as the \u2018Group\u2019), as well as the interests of the Group in joint ventures and associates.  Vopak is the world\u2019s leading independent tank storage provider, specialized in the storage and handling of liquid chemicals, gases and oil products.   Basis of measurement The Consolidated financial statements are based on the historical cost basis except for the following assets and liabilities, which are measured at fair value: derivative financial instruments, other financial assets (measured at fair value through other comprehensive income), assets held for sale (when measured at fair value less cost of disposal) and defined benefit pension plans (plan assets measured at fair value). Note 9.3 Macro-economic and geopolitical uncertainty  Russia-Ukraine war  The Russian invasion of Ukraine is a major humanitarian drama and we sympathize with the people who are now suffering from the violence of war.  Vopak is monitoring the situation closely and is fully committed to adhere to relevant sanctions, laws and regulations. As governments try to ensure energy security and affordability, Vopak adheres to applicable government regulations with regards to energy imports from Russia.  The Russia-Ukraine war and the international sanction regimes make the market situation volatile and uncertain. Direct impact is assessed to be mainly in Vopak\u2019s Europoort terminal and to be limited on Vopak\u2019s group level. There is, however, an indirect exposure through factors such as utility prices, inflation, market conditions and exchange rates, which was considered during the individual asset valuation performed during 2022. Vopak continues to closely monitor the developments and takes measures to adapt to the changed factors.    COVID-19 pandemic  The pandemic spread of COVID-19 (Coronavirus) has a significant impact on all people and organizations around the world. Our main focus remains on the health of the people working at our terminals, offices or at home around the world and to limit the spread of the Coronavirus, to manage the impact on our business and to assess the impact on the economy and society. Therefore, we have put global and local measures into place to protect our employees, their families and our operations based on information provided by the World Health Organization, national and local health authorities. We have monitored developments closely throughout the year and scenario-based contingency plans and other mitigating measures were ready to implement, if needed. To date, thanks to the adjustments and efforts of our people, we have observed a limited impact on our operations. All our terminals are operational and there have been no significant disruptions to business continuity.  Vopak\u2019s strategy is robust and unchanged. An effective control and governance structure to respond to the impact of the global pandemic, with continued decision making to support business execution and well-being of people, has been put in place. Operational and financial performance, cash flows and our financial position have not been significantly affected. Our financial results reflect our resilient business performance.   Our focus in these circumstances is on the short-term delivery and protection of long-term value. Vopak plays an important role within society by storing vital products with care. We are doing our utmost during the COVID-19 pandemic to continue to fulfil this role in all our work locations around the world.  Although the pandemic brings a lot of uncertainty and the estimates remain subject to future events, we expect to continue to manage our performance in line with our original business plans and unchanged strategy.  Note 9.10 New standards and interpretations not yet implemented  There are no new accounting standards, amendments to existing standards or new IFRIC interpretations published that are not yet effective that are expected to have a material impact on the Group in future reporting periods and on foreseeable future transactions, including:     - IFRS 17 Insurance Contracts and amendments to IFRS 17 Insurance Contracts   - Disclosure of Accounting Policies (Amendments to IAS 1 and IFRS Practice Statement 2)   - Definition of Accounting Estimates (Amendments to IAS 8)  ",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfGeneralInformationAboutFinancialStatementsExplanatory",
    "language": "en",
    "entity": "scheme:724500UL634GFV1KYF10",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
   }
  },
  "pp-value-7-2": {
   "value": "Statement of compliance The Consolidated financial statements have been prepared in accordance with the International Financial Reporting Standards (IFRS) as adopted by the European Union (EU) and also comply with the financial reporting requirements included in Part 9 of Book 2 of the Dutch Civil Code, as far as applicable. The accounting policies based on IFRS, as described in this section, have been applied consistently for the years presented by all entities. There were no material changes in the accounting policies applied compared to the previous year. The financial statements were prepared by the Executive Board and approved by the Supervisory Board on 14 February 2023 and are subject to adoption by the shareholders during the Annual General Meeting. ",
   "dimensions": {
    "concept": "ifrs-full:StatementOfIFRSCompliance",
    "language": "en",
    "entity": "scheme:724500UL634GFV1KYF10",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
   }
  },
  "pp-value-8-3": {
   "value": "The financial statements were prepared by the Executive Board and approved by the Supervisory Board on 14 February 2023 and are subject to adoption by the shareholders during the Annual General Meeting. ",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfAuthorisationOfFinancialStatementsExplanatory",
    "language": "en",
    "entity": "scheme:724500UL634GFV1KYF10",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
   }
  },
  "pp-value-9-2": {
   "value": "Functional and presentation currency The Consolidated financial statements are presented in euros (EUR), which is the functional and presentation currency of the Vopak Group. All amounts are presented in EUR million and have been rounded to the nearest EUR 100k, unless otherwise stated. ",
   "dimensions": {
    "concept": "ifrs-full:DescriptionOfAccountingPolicyForFunctionalCurrencyExplanatory",
    "language": "en",
    "entity": "scheme:724500UL634GFV1KYF10",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
   }
  },
  "pp-value-9-3": {
   "value": "Functional and pr<span class=\"_ _3\"/>esentation curr<span class=\"_ _3\"/>ency The Consolidated financial statements are presented in euros (EUR), whic<span class=\"_ _3\"/>h is the functional and presentation currency of the <span class=\"_ _3\"/>V<span class=\"_ _3\"/>opak Group. All amounts are presented in EUR million and hav<span class=\"_ _7\"/>e been rounded to the nearest EUR 1<span class=\"_ _3\"/>00k, unless other<span class=\"_ _4\"/>wise stated. Basis of consolidation Subsidiar<span class=\"_ _7\"/>ies <span class=\"ff1\">are entities controlled by the Group. <span class=\"_ _9\"/>V<span class=\"_ _3\"/>opak controls an entit<span class=\"_ _5\"/>y when it is </span>exposed to, or has rights to, v<span class=\"_ _7\"/>ariable returns from its in<span class=\"_ _7\"/>volv<span class=\"_ _7\"/>ement with the entity and has the ability to aff<span class=\"_ _3\"/>ect those returns through its po<span class=\"_ _7\"/>wer o<span class=\"_ _7\"/>ver the entity<span class=\"_ _3\"/>. <span class=\"_ _9\"/>The financial statements of subsidiaries are included in the Consolidated financial statements from the date on whic<span class=\"_ _7\"/>h control commences until the date on whic<span class=\"_ _3\"/>h control ceases, using consistent accounting policies. Non-controlling int<span class=\"_ _7\"/>er<span class=\"_ _7\"/>ests<span class=\"ff1\"> in equit<span class=\"_ _5\"/>y and in results are presented separately<span class=\"_ _9\"/>. <span class=\"_ _9\"/>T<span class=\"_ _9\"/>ransactions </span>with non-controlling interests that do not result in loss of control are accounted for as transactions with shareholders. F<span class=\"_ _7\"/>or purc<span class=\"_ _3\"/>hases of non-controlling interests, the diff<span class=\"_ _3\"/>erence between any consideration paid and the rele<span class=\"_ _7\"/>vant share acquired of the carrying value of the net asset of the subsidiar<span class=\"_ _5\"/>y is recorded directly in equity<span class=\"_ _3\"/>. Gains or losses on disposals of non-controlling interests are also recorded directly in equity<span class=\"_ _3\"/>.  Upon initial recognition, a non-controlling interest is measured either at its proportionate interest in the fair v<span class=\"_ _7\"/>alue of the net assets acquired or full fair v<span class=\"_ _7\"/>alue, whic<span class=\"_ _7\"/>h is elected on a transaction-by<span class=\"_ _7\"/>-transaction basis. The Group\u2019<span class=\"_ _9\"/>s interests in equity-accounted in<span class=\"_ _7\"/>vestees comprise interests in joint vent<span class=\"_ _3\"/>ures and associates. Joint v<span class=\"_ _7\"/>entur<span class=\"_ _7\"/>e<span class=\"ff1\"> is an arrangement in whic<span class=\"_ _3\"/>h the Group has joint control, whereby the Group </span>has rights to the net assets of the arrangement, rather than rights to its assets and obligations for its liabilities. Associa<span class=\"fc1b lsa6 ws124\">te</span><span class=\"fc1b\">s</span><span class=\"ff1\"> are entities in whic<span class=\"_ _7\"/>h the Group has significant influence, but no control or </span>joint control, ov<span class=\"_ _7\"/>er the financial and operating policies. For<span class=\"_ _3\"/>eign curr<span class=\"_ _3\"/>ency translation Items included in the financial statements of eac<span class=\"_ _7\"/>h of the Group\u2019<span class=\"_ _9\"/>s entities are measured using the currency of the primar<span class=\"_ _5\"/>y economic en<span class=\"_ _7\"/>vironment in whic<span class=\"_ _7\"/>h the entity operates (\u2018the functional currency\u2019). F<span class=\"_ _7\"/>oreign currency transactions are translated into the functional currency using the e<span class=\"_ _7\"/>xc<span class=\"_ _3\"/>hange rate at the dates of the transactions, or valuation date where items are remeasured. F<span class=\"_ _3\"/>oreign ex<span class=\"_ _7\"/>c<span class=\"_ _3\"/>hange gains and losses resulting from the settlement of suc<span class=\"_ _3\"/>h transactions and from the translation at period-end ex<span class=\"_ _7\"/>c<span class=\"_ _3\"/>hange rates of monet<span class=\"_ _5\"/>ar<span class=\"_ _5\"/>y assets and liabilities denominated in foreign cur<span class=\"_ _7\"/>rencies are recognized in the statement of income, except when def<span class=\"_ _3\"/>erred in other comprehensive income as qualifying cash flo<span class=\"_ _7\"/>w hedges or net inv<span class=\"_ _7\"/>estment hedges. Upon consolidation, the assets and liabilities of non-Euro entities, including goodwill and fair v<span class=\"_ _7\"/>alue adjustments at the time of the acquisition, are translated into euros at the year<span class=\"_ _9\"/>-end rates of ex<span class=\"_ _7\"/>c<span class=\"_ _3\"/>hange (closing exc<span class=\"_ _3\"/>hange rates). <span class=\"_ _9\"/>The items of the statement of income of foreign activities are translated at the av<span class=\"_ _7\"/>erage ex<span class=\"_ _7\"/>c<span class=\"_ _7\"/>hange rates for the reporting period.    The resulting translation dif<span class=\"_ _3\"/>f<span class=\"_ _7\"/>erences of the net inv<span class=\"_ _7\"/>estments in foreign operations are recognized as f<span class=\"_ _7\"/>oreign currency translation reser<span class=\"_ _5\"/>ve mo<span class=\"_ _3\"/>vements (translation reser<span class=\"_ _5\"/>ve) in other comprehensive income. <span class=\"_ _8\"/>The same applies to e<span class=\"_ _7\"/>xc<span class=\"_ _3\"/>hange dif<span class=\"_ _7\"/>ferences arising from loans dra<span class=\"_ _7\"/>wn and other financial instruments to the e<span class=\"_ _7\"/>xtent that these hedge the currency risk related to the net inv<span class=\"_ _7\"/>estment.  Upon disposal of all or part of an interest in an entity<span class=\"_ _3\"/>, or upon liquidation of an entit<span class=\"_ _5\"/>y<span class=\"_ _9\"/>, cumulative cur<span class=\"_ _7\"/>rency translation dif<span class=\"_ _7\"/>f<span class=\"_ _7\"/>erences related to that entit<span class=\"_ _5\"/>y are recognized in the income statement. <span class=\"_ _3\"/>When the Group disposes of only part of its interest in a subsidiar<span class=\"_ _5\"/>y with a foreign operation, while retaining control, the relev<span class=\"_ _7\"/>ant portion of the cumulative amount is not transf<span class=\"_ _7\"/>erred to profit or loss but reat<span class=\"_ _3\"/>tributed to non-controlling interests. Upon disposal of a foreign activity with a non-controlling interest, the cumulative amount relating to the non-controlling interests shall be derecognized, but shall not be reclassified to profit or loss. A share capital or share premium distribution by an entity is not considered to be a partial disposal when the Group retains its relative legal share in the entity<span class=\"_ _3\"/>. Accounting policies,<span class=\"_ _3\"/> not attr<span class=\"_ _3\"/>ibutable to a specific section The Group\u2019<span class=\"_ _9\"/>s significant accounting policies are described in the rele<span class=\"_ _7\"/>vant individual notes to the Consolidated financial statements or other<span class=\"_ _4\"/>wise stated below<span class=\"_ _9\"/>. A list of the notes is shown in the table of contents preceding the financial statements. Offset<span class=\"_ _3\"/>ting of financial instruments Financial assets and liabilities are of<span class=\"_ _7\"/>fset and the net amount is reported in the balance sheet only when there is a legally enforceable right to of<span class=\"_ _3\"/>fset the recognized amounts and there is an intention to set<span class=\"_ _3\"/>tle on a net basis or realize the asset and set<span class=\"_ _3\"/>tle the liabilit<span class=\"_ _5\"/>y simultaneously<span class=\"_ _3\"/>. Cash flow stat<span class=\"_ _7\"/>ement The cash flo<span class=\"_ _7\"/>w statement is prepared based on the indirect method. Cash flows denominated in foreign cur<span class=\"_ _7\"/>rencies are translated at average e<span class=\"_ _3\"/>xc<span class=\"_ _7\"/>hange rates. Exc<span class=\"_ _3\"/>hange and translation gains and losses on cash and cash equivalents (including cur<span class=\"_ _7\"/>rent liabilities arising from short-term credit facilities) are presented separately<span class=\"_ _9\"/>. The Consolidated statement of cash flows sho<span class=\"_ _7\"/>ws the Group\u2019<span class=\"_ _9\"/>s cash flows from operating, inv<span class=\"_ _7\"/>esting and financing activities for the y<span class=\"_ _7\"/>ear<span class=\"_ _3\"/>. Use of k<span class=\"_ _7\"/>ey accounting estimat<span class=\"_ _7\"/>es and judgments Preparing the Consolidated financial statements means that the Group must use insights, estimates and assumptions that could af<span class=\"_ _7\"/>f<span class=\"_ _7\"/>ect the reported assets and liabilities and the information provided on contingent assets and liabilities as at the statement of financial position date as well as the reported income and expenses. <span class=\"_ _8\"/>The actual results ma<span class=\"_ _7\"/>y ultimately dif<span class=\"_ _7\"/>fer from these estimates. <span class=\"_ _9\"/>The estimates and the underlying assumptions are re<span class=\"_ _7\"/>view<span class=\"_ _7\"/>ed on a regular basis. Adjustments are made in the period in whic<span class=\"_ _3\"/>h the estimates were revie<span class=\"_ _7\"/>wed if the adjustment af<span class=\"_ _7\"/>f<span class=\"_ _7\"/>ects that period, or in the relevant period and the fut<span class=\"_ _3\"/>ure periods if the adjustment aff<span class=\"_ _3\"/>ects both current and fut<span class=\"_ _7\"/>ure periods.   Management insights, estimates and assumptions that could hav<span class=\"_ _7\"/>e a significant impact on the financial statements are: \u2022 <span class=\"_ _192\"> </span><span class=\"fc1\">The term of land lease contracts (note 3.4) </span>\u2022 <span class=\"_ _192\"> </span><span class=\"fc1\">Assets held f<span class=\"_ _7\"/>or sale (note 3.6) </span>\u2022 <span class=\"_ _192\"> </span><span class=\"fc1\">Useful lif<span class=\"_ _7\"/>e and residual value of property<span class=\"_ _3\"/>, plant and equipment (note 3.7) </span>\u2022 <span class=\"_ _192\"> </span><span class=\"fc1\">Impairment analysis (note 3.8) </span>\u2022 <span class=\"_ _192\"> </span><span class=\"fc1\">Derivativ<span class=\"_ _7\"/>e financial instruments (note 6.2) </span>\u2022 <span class=\"_ _192\"> </span><span class=\"fc1\">Def<span class=\"_ _7\"/>erred tax assets (note 8.2) </span>\u2022 <span class=\"_ _192\"> </span><span class=\"fc1\">Pro<span class=\"_ _7\"/>visions (note 9.5). </span>Although both the CO<span class=\"_ _3\"/>VID-19 pandemic and R<span class=\"_ _7\"/>ussia-Ukraine war has a limited impact on the <span class=\"_ _9\"/>V<span class=\"_ _7\"/>opak Group, a comprehensive o<span class=\"_ _7\"/>verview of the impact is included in note 9.3. Climate r<span class=\"_ _3\"/>isk V<span class=\"_ _3\"/>opak\u2019<span class=\"_ _9\"/>s business model of \u2018storing vit<span class=\"_ _5\"/>al products with care\u2019 means that the Group connects supply and demand for products and enables the deliv<span class=\"_ _7\"/>er<span class=\"_ _5\"/>y of products that are vital to the economy and daily liv<span class=\"_ _7\"/>es of people across the globe. Supply and demand and subsequent imbalances remain a ke<span class=\"_ _7\"/>y driver behind storage and it is not foreseen that these imbalances will be resolved in the near fut<span class=\"_ _7\"/>ure, although demand for some of the products ma<span class=\"_ _7\"/>y c<span class=\"_ _7\"/>hange as a result of substitution f<span class=\"_ _7\"/>or cleaner products. Nev<span class=\"_ _7\"/>ertheless, as a large part of our current business relates to fossil-based products,  <span class=\"_ _15e\"/>climate c<span class=\"_ _7\"/>hange and the transition to a low<span class=\"_ _7\"/>er carbon economy were considered in preparing the Consolidated financial statements.   The Group re<span class=\"_ _7\"/>viewed k<span class=\"_ _7\"/>ey accounting estimates in the financial statements, including among others useful lives of fix<span class=\"_ _7\"/>ed assets (note 3.7), impairment considerations (note 3.8) and/or environmental provisions (note 9.5)<span class=\"ws3f\">. T<span class=\"_ _7\"/><span class=\"ws3\">here is significant uncertaint<span class=\"_ _5\"/>y surrounding the wa<span class=\"_ _7\"/>ys in whic<span class=\"_ _3\"/>h societ<span class=\"_ _5\"/>y and </span></span>the world econom<span class=\"_ _7\"/>y will c<span class=\"_ _7\"/>hange ov<span class=\"_ _7\"/>er the next 30 years and the e<span class=\"_ _7\"/>xtent to whic<span class=\"_ _7\"/>h suc<span class=\"_ _7\"/>h c<span class=\"_ _7\"/>hanges will meet the aspirations of the Paris <span class=\"_ _3\"/>Agreement. <span class=\"_ _9\"/>The pace and se<span class=\"_ _7\"/>verity of climate c<span class=\"_ _7\"/>hange, as well as accompanying go<span class=\"_ _7\"/>vernment policy and the energy transition, impact the estimates. <span class=\"_ _9\"/>T<span class=\"_ _7\"/>herefore these remain subject to constant review and monitoring.   Fo<span class=\"_ _5\"/><span class=\"ls6 ws3\">r our 2022 Financial Statements, the Group does not see any evidence that <span class=\"_ _9\"/>V<span class=\"_ _3\"/>opak\u2019<span class=\"_ _3\"/>s balance </span>sheet materially ov<span class=\"_ _7\"/>erstated assets or materially underst<span class=\"_ _5\"/>ated liabilities.  Note 2.1 Segment inf<span class=\"_ _3\"/>ormation A<span class=\"_ _1e\"> </span><span class=\"ff3 fs9\">Accounting policies </span>The accounting policies of the reportable segments are the same as the Group\u2019<span class=\"_ _9\"/>s accounting policies described throughout the notes when relev<span class=\"_ _7\"/>ant. Reportable segments Operating segments are reported in a manner consistent with the internal reporting provided to the Executiv<span class=\"_ _7\"/>e Board, whic<span class=\"_ _3\"/>h is the c<span class=\"_ _7\"/>hief operating decision maker<span class=\"_ _9\"/>. <span class=\"_ _9\"/>The division str<span class=\"_ _3\"/>ucture is primarily based on geographical markets. Business activities that cannot be allocated to an<span class=\"_ _7\"/>y other segment are reported under \u2018Global functions and corporate activities<span class=\"_ _7\"/>\u2019<span class=\"_ _9\"/>. <span class=\"_ _9\"/>T<span class=\"_ _7\"/>hese include primarily the head of<span class=\"_ _7\"/>fice costs, the Global IT costs and e<span class=\"_ _7\"/>xpenses related to other interests. V<span class=\"_ _3\"/>opak\u2019<span class=\"_ _9\"/>s five divisions are <span class=\"_ _7\"/>Americas, A<span class=\"_ _7\"/>sia &amp; Middle East, China &amp; North A<span class=\"_ _7\"/>sia, Europe &amp; Africa and New Energy &amp; LNG.  The EBI<span class=\"_ _7\"/>TD<span class=\"_ _3\"/>A and Group operating profit of the divisions include the net eff<span class=\"_ _3\"/>ects of the company<span class=\"_ _7\"/>-wide cost allocations. Costs that cannot be allocated to the divisions are part of the \u2018Global functions and corporate activities<span class=\"_ _7\"/>\u2019<span class=\"_ _9\"/>. <span class=\"_ _9\"/>T<span class=\"_ _7\"/>he actual allocated costs can dif<span class=\"_ _3\"/>fer per reporting period. Note 2.2 Ex<span class=\"_ _3\"/>ceptional items  A<span class=\"_ _1e\"> </span><span class=\"ff3 fs9\">Gr<span class=\"_ _7\"/>oup policy </span>The items in the statement of income include items that are ex<span class=\"_ _7\"/>ceptional by nat<span class=\"_ _7\"/>ure from a management perspective based on their siz<span class=\"_ _7\"/>e and/or nature. F<span class=\"_ _3\"/>or the definition of ex<span class=\"_ _7\"/>ceptional items applied by the compan<span class=\"_ _7\"/>y<span class=\"_ _3\"/>, ref<span class=\"_ _7\"/>erence is made to the Glossar<span class=\"_ _5\"/>y<span class=\"_ _3\"/>. <span class=\"_ _9\"/>T<span class=\"_ _7\"/>he material exceptional items are disclosed separately in the notes when relev<span class=\"_ _7\"/>ant in order to increase transparency<span class=\"_ _3\"/>. A<span class=\"_ _1e\"> </span><span class=\"ff3 fs9\">Accounting policies </span>Re<span class=\"_ _7\"/>venue from contracts with customers is recogniz<span class=\"_ _7\"/>ed when control of the goods or ser<span class=\"_ _5\"/>vices are transf<span class=\"_ _7\"/>erred to the customer at an amount that reflects the consideration to whic<span class=\"_ _3\"/>h the Group expects to be entitled in e<span class=\"_ _7\"/>xc<span class=\"_ _3\"/>hange for those services or goods. Rev<span class=\"_ _7\"/>enues ex<span class=\"_ _7\"/>cludes amounts collected on behalf of third parties and are net of discounts and value added taxes. Monthly storage rates and prices for other services are contractually agreed before the ser<span class=\"_ _5\"/>vices are rendered and do not contain material variable components. <span class=\"_ _3\"/>When it is probable that the Group will collect the consideration to whic<span class=\"_ _3\"/>h it will be entitled, the recognition in the statement of income is in proportion to the st<span class=\"_ _5\"/>age of the rendered performance as at the end of the reporting period.  The Group has a right to a consideration from a customer in an amount that cor<span class=\"_ _7\"/>responds directly with the value to the customer of the entity\u2019<span class=\"_ _9\"/>s ser<span class=\"_ _5\"/>vices completed to date. <span class=\"_ _9\"/>T<span class=\"_ _9\"/>ank storage rentals, including minimum guaranteed throughputs, are recognized ev<span class=\"_ _7\"/>enly ov<span class=\"_ _7\"/>er the contractual period during whic<span class=\"_ _3\"/>h the ser<span class=\"_ _5\"/>vices are rendered. Re<span class=\"_ _7\"/>venues from e<span class=\"_ _7\"/>xcess throughputs, heating/cooling, homogenization, product movements and other services are recognized when these services are rendered. Customers simult<span class=\"_ _5\"/>aneously consume and benefit from the ser<span class=\"_ _5\"/>vices at the moment that these are rendered, resulting in a situation where rev<span class=\"_ _7\"/>enue is recognized o<span class=\"_ _7\"/>ver time. Modifications of property<span class=\"_ _3\"/>, plant and equipment upfront paid by customers are accounted f<span class=\"_ _7\"/>or as prepaid rev<span class=\"_ _7\"/>enues and recognized in the statement of income over the contract<span class=\"_ _7\"/>ual period on a straight-line basis.  Storage f<span class=\"_ _7\"/>ees are mostly inv<span class=\"_ _7\"/>oiced upfront in the month preceding the month to whic<span class=\"_ _7\"/>h the storage f<span class=\"_ _7\"/>ees relate. Handling and other ser<span class=\"_ _5\"/>vices are generally inv<span class=\"_ _7\"/>oiced af<span class=\"_ _7\"/>ter<span class=\"_ _5\"/>wards, based  on the actual usage. In<span class=\"_ _7\"/>voices are generally paid b<span class=\"_ _7\"/>y customers at relatively short notice in agreement with the payment terms of the contracts. Within the revenue related to storage and handling services, the following categorization is made: \u2022 <span class=\"_ _19f\"> </span><span class=\"ff3 fc1\">Stor<span class=\"_ _7\"/>age services:<span class=\"ff1\"> relates to re<span class=\"_ _7\"/>venues from renting of storage capacity </span></span>\u2022 <span class=\"_ _19f\"> </span><span class=\"ff3 fc1\">Product mo<span class=\"_ _7\"/>vements:<span class=\"ff1\"> re<span class=\"_ _7\"/>venues related to product mo<span class=\"_ _7\"/>vements </span></span>\u2022 <span class=\"_ _19f\"> </span><span class=\"ff3 fc1\">Stor<span class=\"_ _7\"/>age and handling r<span class=\"_ _3\"/>elated services:<span class=\"ff1\"> relates to rev<span class=\"_ _7\"/>enues for storage and handling </span></span>related ser<span class=\"_ _5\"/>vices, suc<span class=\"_ _3\"/>h as blending<span class=\"_ _5\"/>, homogenization, temperature control. \u2022 <span class=\"_ _19f\"> </span><span class=\"ff3 fc1 ws3\">Other services:<span class=\"ff1\"> primarily relates to the agency ser<span class=\"_ _5\"/>vices that <span class=\"_ _3\"/>V<span class=\"_ _3\"/>opak provided to customers via </span></span>V<span class=\"_ _3\"/>opak A<span class=\"_ _3\"/>gencies up till the divestment of the <span class=\"_ _3\"/>V<span class=\"_ _3\"/>opak A<span class=\"_ _7\"/>gencies business in December 2022. The Group does not mak<span class=\"_ _7\"/>e any significant judgments with regards to re<span class=\"_ _7\"/>venue recognition, among others due to the nature of the business.  Note 2.5 P<span class=\"_ _3\"/>ersonnel expenses  A<span class=\"_ _1e\"> </span><span class=\"ff3 fs9\">Accounting policies </span>Short-term employ<span class=\"_ _7\"/>ee benefits: wages, salaries, social security contributions, annual leav<span class=\"_ _7\"/>e and sic<span class=\"_ _3\"/>kness absenteeism, incentives and non-monetar<span class=\"_ _5\"/>y benefits are recognized in the year in whic<span class=\"_ _3\"/>h the related ser<span class=\"_ _5\"/>vices are rendered by employ<span class=\"_ _7\"/>ees. T<span class=\"_ _9\"/>ermination benefits are pa<span class=\"_ _7\"/>yable when employment is terminated b<span class=\"_ _3\"/>y the Group before the normal retirement date, or whenev<span class=\"_ _7\"/>er an employ<span class=\"_ _7\"/>ee accepts voluntar<span class=\"_ _5\"/>y redundancy in ex<span class=\"_ _7\"/>c<span class=\"_ _3\"/>hange for these benefits. <span class=\"_ _9\"/>T<span class=\"_ _7\"/>he Group recognizes termination benefits at the earlier of the follo<span class=\"_ _7\"/>wing dates: (a) when the Group can no longer withdraw the of<span class=\"_ _3\"/>f<span class=\"_ _7\"/>er of those benefits; and (b) when the Group recognizes a restr<span class=\"_ _7\"/>ucturing pro<span class=\"_ _3\"/>vision that involv<span class=\"_ _7\"/>es the payment of termination benefits. The Group recogniz<span class=\"_ _7\"/>es a provision f<span class=\"_ _7\"/>or incentive plans where contract<span class=\"_ _7\"/>ually obliged or where there is a past practice that has created a constructiv<span class=\"_ _7\"/>e obligation. F<span class=\"_ _7\"/>or the accounting policies related to share-based compensation, other types of remuneration and pensions and other employ<span class=\"_ _7\"/>ee benefits ref<span class=\"_ _7\"/>erence is made to note 7<span class=\"_ _d\"/>.2 and note 9.4. Capitalized personnel expenses: costs of emplo<span class=\"_ _7\"/>yee benefits arising directly from the construction of Intangible assets or Property<span class=\"_ _9\"/>, plant and equipment and which meet the recognition criteria, are capitalized as part of the cost of the asset concerned. Note 2.6 Other oper<span class=\"_ _3\"/>ating expenses  A<span class=\"_ _1e\"> </span><span class=\"ff3 fs9\">Accounting policies </span>Operating expenses are recogniz<span class=\"_ _7\"/>ed in the income statement when incurred, e.g<span class=\"_ _5\"/>. when ser<span class=\"_ _5\"/>vices are received or goods are consumed. In addition, operating e<span class=\"_ _7\"/>xpenses can result from a decrease in future economic benefits related to a decrease of an asset or an increase of a liability that has arisen and whic<span class=\"_ _7\"/>h can be measured reliably<span class=\"_ _3\"/>.   Losses on the sale of assets are presented under Other operating e<span class=\"_ _7\"/>xpenses and are recognized as soon as the<span class=\"_ _7\"/>y are foreseen. Costs relating to the identification and selection phases of business dev<span class=\"_ _7\"/>elopment projects are recognized in the statement of income in the year in whic<span class=\"_ _3\"/>h the costs are incurred. Note 2.7 Result of joint v<span class=\"_ _3\"/>entur<span class=\"_ _7\"/>es and associates A<span class=\"_ _1e\"> </span><span class=\"ff3 fs9\">Accounting policies </span>Joint v<span class=\"_ _7\"/>entures and associates are accounted f<span class=\"_ _7\"/>or using the equity method. For the accounting policies relating to joint vent<span class=\"_ _7\"/>ures and associates, ref<span class=\"_ _7\"/>erence is made to note 3.5. Note 3.1 <span class=\"_ _8\"/>Acquisition and divestment of subsidiar<span class=\"_ _3\"/>ies A<span class=\"_ _1e\"> </span><span class=\"ff3 fs9\">Accounting policies </span>Business combinations Acquired businesses are recogniz<span class=\"_ _7\"/>ed in the Consolidated financial statements from the acquisition date, whic<span class=\"_ _3\"/>h is the date when the Group eff<span class=\"_ _3\"/>ectively obtains control of the acquired business. Businesses that are divested or w<span class=\"_ _7\"/>ound up are recognized in the Consolidated financial statements until the date of divestment or winding up. Comparative figures are not restated for businesses acquired, divested or w<span class=\"_ _7\"/>ound up.  When the Group obtains control of a business, the acquisition method is applied. <span class=\"_ _9\"/>The identifiable assets, liabilities and contingent liabilities are measured at fair v<span class=\"_ _7\"/>alue at the acquisition date. Identifiable intangible assets are recognized if separable or if they arise fromcontractual or other legal rights. Def<span class=\"_ _3\"/>erred tax related to fair value adjustments is also recognized. Any e<span class=\"_ _7\"/>xcess of the f<span class=\"_ _7\"/>air value of the consideration transf<span class=\"_ _3\"/>erred, the recognized amount of an<span class=\"_ _7\"/>y non-controlling interests and the fair v<span class=\"_ _7\"/>alue of any e<span class=\"_ _7\"/>xisting equity interest in the acquired entity over the f<span class=\"_ _7\"/>air value of identifiable assets, liabilities and contingent liabilities, is recognized as goodwill. <span class=\"_ _9\"/>When the ex<span class=\"_ _7\"/>cess is negative, a bargain purc<span class=\"_ _3\"/>hase gain is recognized in the statement of income at the acquisition date. If parts of the consideration are conditional upon future e<span class=\"_ _7\"/>vents (contingent consideration) or satisfaction of agreed terms, these parts are recogniz<span class=\"_ _7\"/>ed at fair v<span class=\"_ _7\"/>alue at the acquisition date. T<span class=\"_ _9\"/>ransaction costs that the Group incurs in connection with the business combination are expensed as incur<span class=\"_ _7\"/>red under Other operating expenses. Divestments Gains or losses on the divestments or winding-up of subsidiaries, joint v<span class=\"_ _7\"/>entures or associates are measured as the dif<span class=\"_ _7\"/>f<span class=\"_ _7\"/>erence between the consideration received adjusted f<span class=\"_ _7\"/>or directly related divestment or winding-up costs and the car<span class=\"_ _7\"/>r<span class=\"_ _5\"/>ying amount of the net assets at the time of disposal or winding-up including any car<span class=\"_ _7\"/>r<span class=\"_ _5\"/>ying amount of allocated goodwill.  Note 3.2 Intangible assets A<span class=\"_ _1e\"> </span><span class=\"ff3 fs9\">Accounting policies </span>Intangible assets include goodwill, internally developed sof<span class=\"_ _3\"/>tware, contractual relationships, concessions and fa<span class=\"_ _7\"/>vorable leases ensuing from business combinations.  In April 2021, the IFR<span class=\"_ _7\"/>S interpretation commit<span class=\"_ _7\"/>tee published the agenda decision \u2018Configuration or customization costs in a cloud computing arrangement\u2019 whic<span class=\"_ _3\"/>h considers whether an intangible asset can be recognized in relation to configuration or customization of application sof<span class=\"_ _3\"/>t<span class=\"_ _5\"/>ware. <span class=\"_ _9\"/>V<span class=\"_ _3\"/>opak has identified sev<span class=\"_ _7\"/>eral assets that have configuration or customization costs included in the asset\u2019<span class=\"_ _9\"/>s cost base. <span class=\"_ _9\"/>The IFRIC agenda decision sets out the follo<span class=\"_ _7\"/>wing options for accounting f<span class=\"_ _7\"/>or costs incurred for customization of cloud computing arrangements that are considered to f<span class=\"_ _7\"/>ollow ser<span class=\"_ _5\"/>vice contract accounting as follo<span class=\"_ _3\"/>ws: \u2022 <span class=\"_ _19f\"> </span><span class=\"fc1\">If the ser<span class=\"_ _5\"/>vices received are distinct, the costs are recogniz<span class=\"_ _7\"/>ed as an expense when the </span>supplier configures or customizes the application sof<span class=\"_ _3\"/>tware; or \u2022 <span class=\"_ _19f\"> </span><span class=\"fc1\">If the ser<span class=\"_ _5\"/>vices are not distinct, the costs are recognized as an e<span class=\"_ _7\"/>xpense when the supplier </span>provides access to the application sof<span class=\"_ _3\"/>tware ov<span class=\"_ _7\"/>er the contract term; or \u2022 <span class=\"_ _19f\"> </span><span class=\"fc1 ws130\">When a third-party supplier<span class=\"_ _3\"/>, employees or in-house contractors configure or customiz<span class=\"_ _7\"/>e the </span>application sof<span class=\"_ _3\"/>t<span class=\"_ _5\"/>ware, costs are recogniz<span class=\"_ _7\"/>ed as an expense when incurred. \u2022 <span class=\"_ _19f\"> </span><span class=\"fc1\">In limited circumstances, cert<span class=\"_ _5\"/>ain configuration and customization activities under taken in </span>implementing cloud computing arrangements ma<span class=\"_ _7\"/>y give rise to a separate intangible asset. This ma<span class=\"_ _7\"/>y be the case if the arrangement results, for e<span class=\"_ _3\"/>xample in additional software code (for interf<span class=\"_ _7\"/>aces with other sof<span class=\"_ _3\"/>t<span class=\"_ _5\"/>ware applications) from whic<span class=\"_ _3\"/>h the Group has the pow<span class=\"_ _7\"/>er to obtain the future economic benefits and to restrict others<span class=\"_ _7\"/>\u2019 access to those benefits. <span class=\"_ _8\"/>The Group recognizes an intangible asset if the additional code is \u2018identifiable\u2019 and meets the recognition criteria for an intangible asset. Goodwill represents the dif<span class=\"_ _7\"/>f<span class=\"_ _7\"/>erence between the purc<span class=\"_ _3\"/>hase price and <span class=\"_ _3\"/>V<span class=\"_ _3\"/>opak\u2019<span class=\"_ _3\"/>s share in the fair v<span class=\"_ _7\"/>alue of the acquired identifiable assets, liabilities and contingent liabilities of the company acquired at the time <span class=\"_ _9\"/>V<span class=\"_ _3\"/>opak obtains control (acquisition method). Goodwill is carried at cost less accumulated impairments. F<span class=\"_ _7\"/>or the purpose of impairment testing, goodwill acquired in a business combination is allocated to the operating segments (divisions), whic<span class=\"_ _3\"/>h represents the lowest le<span class=\"_ _7\"/>vel within the V<span class=\"_ _3\"/>opak Group at whic<span class=\"_ _3\"/>h the goodwill is monitored for internal management purposes.  Goodwill relating to an associate or joint vent<span class=\"_ _7\"/>ure is included in the carr<span class=\"_ _5\"/>ying amount of the inv<span class=\"_ _7\"/>estment in the associate or joint vent<span class=\"_ _7\"/>ure and is not tested for impairment separately<span class=\"_ _9\"/>, but is part of the impairment testing of the inv<span class=\"_ _7\"/>estment in the  associate or joint vent<span class=\"_ _7\"/>ure. Sof<span class=\"_ _3\"/>t<span class=\"_ _5\"/>ware is carried at historical cost, net of straight-line amortization based on its e<span class=\"_ _3\"/>xpected useful lif<span class=\"_ _7\"/>e and any potential impairment. Other intangible assets are carried at their initial fair v<span class=\"_ _7\"/>alue at the time of the acquisition,   net of straight-line amortization and impairments.     <span class=\"_ _25\"/>Other items are mainly licenses that are carried at historical cost, net of   straight-line amortization.  Note 3.3 Pr<span class=\"_ _3\"/>operty<span class=\"_ _9\"/>, plant and equipment - o<span class=\"_ _3\"/>wned assets A<span class=\"_ _1e\"> </span><span class=\"ff3 fs9\">Accounting policies </span>Property<span class=\"_ _3\"/>, plant and equipment mainly relate to the owned terminals assets of the compan<span class=\"_ _7\"/>y whic<span class=\"_ _3\"/>h are used to ser<span class=\"_ _5\"/>vice the customers in the various countries where the Group operates. Property<span class=\"_ _3\"/>, plant and equipment are broken do<span class=\"_ _7\"/>wn into their components and carried at historical cost, net of accumulated straight-line depreciation and less any impairment losses. Interest during construction is capitalized (see also note 5.6). Historical cost includes the initial acquisition cost plus other direct acquisition costs (suc<span class=\"_ _3\"/>h as unrecoverable taxes or transport) and construction costs that can be allocated directly (suc<span class=\"_ _3\"/>h as hours of own employ<span class=\"_ _7\"/>ees and advisor<span class=\"_ _5\"/>y f<span class=\"_ _7\"/>ees). <span class=\"_ _9\"/>T<span class=\"_ _8\"/>o the extent that dismantling obligations exist at the end of the useful lif<span class=\"_ _7\"/>e, these estimated costs and any amendments thereto are included in the cost of the assets.  Subsequent costs are included in the asset\u2019<span class=\"_ _9\"/>s carr<span class=\"_ _5\"/>ying amount or recognized as a separate asset, as appropriate, only when it is probable that future economic benefits associated with the item will flow to the Group and the cost of the item can be measured reliably<span class=\"_ _9\"/>. <span class=\"_ _9\"/>The carr<span class=\"_ _5\"/>ying amount of the replaced part is derecogniz<span class=\"_ _7\"/>ed. Costs of repairs and maintenance that do not increase the future economic benefits and are part of the da<span class=\"_ _7\"/>y-to-da<span class=\"_ _7\"/>y ser<span class=\"_ _5\"/>vicing  of the assets are recognized as e<span class=\"_ _7\"/>xpenses. Note 3.4 Leases A<span class=\"_ _1e\"> </span><span class=\"ff3 fs9\">Accounting policies </span>In line with the nature of its activities, the Group has a large portf<span class=\"_ _7\"/>olio of long-term land leases and leases of other non-current assets suc<span class=\"_ _3\"/>h as jet<span class=\"_ _7\"/>ties, of<span class=\"_ _7\"/>fices and other equipment. Most of the contracts contain extension options. Contracts typically cont<span class=\"_ _5\"/>ain both lease and non-lease components. <span class=\"_ _9\"/>T<span class=\"_ _7\"/>he Group allocates the consideration in the contract to the lease and non-lease components based on their relative stand-alone prices. <span class=\"_ _9\"/>The non-lease components are normally relativ<span class=\"_ _7\"/>ely small. Lease terms are negotiated on an individual basis and contain a wide range of dif<span class=\"_ _7\"/>f<span class=\"_ _7\"/>erent terms and conditions. <span class=\"_ _9\"/>T<span class=\"_ _7\"/>he lease agreements in general do not impose any co<span class=\"_ _7\"/>venants other than the security interests in the leased assets that are held by the lessor<span class=\"_ _3\"/>. Leased assets cannot be used as security for borro<span class=\"_ _7\"/>wing purposes by the Group. Determining the right-of-use asset and the lease liability <span class=\"ff1\"> </span>Assets and liabilities arising from a lease are initially measured on a present v<span class=\"_ _7\"/>alue basis. Lease liabilities include the net present v<span class=\"_ _7\"/>alue of the follo<span class=\"_ _7\"/>wing lease payments: \u2022 <span class=\"_ _19f\"> </span><span class=\"fc1\">fixed pa<span class=\"_ _7\"/>yments (including in-substance fixed payments), less an<span class=\"_ _7\"/>y lease incentives </span>receivable \u2022 <span class=\"_ _19f\"> </span><span class=\"fc1\">variable lease pa<span class=\"_ _7\"/>yment that are based on an index or a rate, initially measured using the </span>index or rate as at the commencement date \u2022 <span class=\"_ _19f\"> </span><span class=\"fc1\">amounts expected to be pa<span class=\"_ _7\"/>yable b<span class=\"_ _7\"/>y the group under residual value guarantees (normally </span>not present) \u2022 <span class=\"_ _19f\"> </span><span class=\"fc1\">the ex<span class=\"_ _7\"/>ercise price of a purc<span class=\"_ _3\"/>hase option if the group is reasonably cert<span class=\"_ _5\"/>ain to ex<span class=\"_ _7\"/>ercise that </span>option, and \u2022 <span class=\"_ _19f\"> </span><span class=\"fc1\">payments of penalties f<span class=\"_ _7\"/>or terminating the lease, if the lease term reflects the group </span>ex<span class=\"_ _7\"/>ercising that option. When it is reasonably certain that a lease extension option will be ex<span class=\"_ _7\"/>ercised, lease payments that are to be made under these extension options are also included in the measurement of the liability<span class=\"_ _3\"/>. Determining the discount rate <span class=\"ff1\"> </span>The lease pa<span class=\"_ _7\"/>yments are in almost all instances discounted using the increment<span class=\"_ _5\"/>al borrowing rate of the <span class=\"_ _3\"/>V<span class=\"_ _9\"/>opak entit<span class=\"_ _5\"/>y entering into the lease. <span class=\"_ _9\"/>T<span class=\"_ _7\"/>his is because the interest rate implicit in the lease can in most instances not be readily determined. <span class=\"_ _9\"/>The incremental borrowing rate is the rate that the individual entity would hav<span class=\"_ _7\"/>e to pay to borro<span class=\"_ _3\"/>w the funds necessar<span class=\"_ _5\"/>y to obt<span class=\"_ _5\"/>ain an asset of similar value to the right-of-use asset, in a similar economic en<span class=\"_ _7\"/>vironment with similar terms, security and conditions. Lease e<span class=\"_ _7\"/>xpenses <span class=\"ff1\"> </span>Lease pa<span class=\"_ _7\"/>yments are allocated between a principal and interest expense. <span class=\"_ _8\"/>The interest expense is c<span class=\"_ _3\"/>harged to profit or loss ov<span class=\"_ _7\"/>er the lease period to produce a constant periodic rate of interest on the remaining balance of the liability for eac<span class=\"_ _3\"/>h period. Right-of-use assets are depreciated ov<span class=\"_ _7\"/>er the shorter of the asset\u2019<span class=\"_ _9\"/>s useful life and the lease term on a straight-line basis. If the Group is reasonably certain to exercise a purc<span class=\"_ _3\"/>hase option, the right-of-use asset is depreciated ov<span class=\"_ _7\"/>er the underlying asset\u2019<span class=\"_ _9\"/>s useful life. Short-term and low<span class=\"_ _3\"/>-value leases <span class=\"ff1\"> </span>P<span class=\"_ _7\"/>ayments associated with short-term leases and all leases of low<span class=\"_ _3\"/>-value assets are recognized on a straight-line basis as an e<span class=\"_ _7\"/>xpense in profit or loss. Short-term leases are leases with a lease term of 1<span class=\"_ _3\"/>2 months or less. Low<span class=\"_ _3\"/>-value assets primarily comprise IT and communication equipment and small items of of<span class=\"_ _7\"/>fice furniture. Short-term leases ma<span class=\"_ _3\"/>y also relate to long-term (land) leases for whic<span class=\"_ _3\"/>h the original maximum contract term has expired and a new contract is cur<span class=\"_ _7\"/>rently under negotiation. The risks associated with leases <span class=\"ff1\"> </span>The group is e<span class=\"_ _7\"/>xposed to the risk of potential future increases in the periodic lease pa<span class=\"_ _7\"/>yments based on an index or rate, whic<span class=\"_ _3\"/>h are not included in the lease liability until they take ef<span class=\"_ _7\"/>f<span class=\"_ _7\"/>ect. When suc<span class=\"_ _3\"/>h adjustments to lease payments occur<span class=\"_ _3\"/>, the lease liability is reassessed and adjusted against the right-of-use asset. F<span class=\"_ _3\"/>urthermore, the Group also runs the risks that critical lease contracts expire and cannot be renew<span class=\"_ _7\"/>ed. In suc<span class=\"_ _3\"/>h inst<span class=\"_ _5\"/>ances the Group has to decommission the terminal by either handing ov<span class=\"_ _7\"/>er the site together with the assets to the lessor<span class=\"_ _3\"/>, or by demolishing the assets, cleaning up the site and handing ov<span class=\"_ _7\"/>er the site to the lessor<span class=\"_ _3\"/>. In most instances the Group is able to enter into a new lease contract, y<span class=\"_ _7\"/>et frequently at higher rates. <span class=\"ff3 fsc\">Ke<span class=\"_ _7\"/>y accounting estimates and judgments </span>Determining the term of a lease contract <span class=\"ff1\"> </span>Extension and termination options are included in most lease contracts held by the Group. <span class=\"_ _8\"/>These options are used to maximize operational fle<span class=\"_ _7\"/>xibility in terms of managing the assets used in the Group\u2019<span class=\"_ _9\"/>s operations. <span class=\"_ _9\"/>The majority of extension and termination options held are ex<span class=\"_ _7\"/>ercisable only by the Group and not by the respectiv<span class=\"_ _7\"/>e lessor<span class=\"_ _3\"/>. <span class=\"_ _9\"/>This is explicitly the case f<span class=\"_ _7\"/>or the land lease contracts. In determining the lease term, management considers all facts and circumstances that create an economic incentive to e<span class=\"_ _7\"/>xercise an extension option, or to not e<span class=\"_ _7\"/>xercise a termination option. Extension options (or periods af<span class=\"_ _7\"/>ter termination options) are only included in the lease term if the lease is reasonably certain to be extended (or not terminated).   F<span class=\"_ _7\"/>or leases of land, sea and jet<span class=\"_ _7\"/>ties the follo<span class=\"_ _7\"/>wing factors are normally the most relev<span class=\"_ _7\"/>ant: \u2022 <span class=\"_ _192\"> </span><span class=\"fc1\">Remaining useful liv<span class=\"_ _7\"/>es of the t<span class=\"_ _5\"/>ank terminal assets whic<span class=\"_ _3\"/>h depend on the lease term of   </span>the lease contract \u2022 <span class=\"_ _192\"> </span><span class=\"fc1\">Remaining duration of long-term customer contracts </span>\u2022 <span class=\"_ _192\"> </span><span class=\"fc1\">The amount of the penalties to terminate (or not e<span class=\"_ _7\"/>xtend) </span>\u2022 <span class=\"_ _192\"> </span><span class=\"fc1\">Other factors, including historical lease durations and the costs and business disr<span class=\"_ _7\"/>uption that is </span>expected to be incurred to replace the leased asset.  F<span class=\"_ _7\"/>or most of the land lease contracts it was assessed by management that it w<span class=\"_ _7\"/>as reasonably certain that the extension options will be ex<span class=\"_ _7\"/>ercised. <span class=\"_ _9\"/>The lease term is reassessed if an option is actually e<span class=\"_ _7\"/>xercised (or not e<span class=\"_ _7\"/>xercised) or the group becomes obliged to ex<span class=\"_ _7\"/>ercise (or not ex<span class=\"_ _7\"/>ercise) it. The assessment of reasonable certainty is only revised if a significant ev<span class=\"_ _7\"/>ent or a significant c<span class=\"_ _7\"/>hange in circumstances occurs, which af<span class=\"_ _3\"/>f<span class=\"_ _7\"/>ects this assessment, and that is within the control of the lessee.   No other material estimates and judgments are applied by the Group with regards to leases. A<span class=\"_ _1e\"> </span><span class=\"ff3 fs9\">Accounting policies </span>Joint v<span class=\"_ _7\"/>entures and associates are accounted f<span class=\"_ _7\"/>or using the equity method, whic<span class=\"_ _7\"/>h involv<span class=\"_ _7\"/>es recognition in the Consolidated statement of income of <span class=\"_ _3\"/>V<span class=\"_ _3\"/>opak\u2019<span class=\"_ _9\"/>s share of the net result of the joint vent<span class=\"_ _7\"/>ures and associates for the y<span class=\"_ _7\"/>ear<span class=\"_ _3\"/>. A<span class=\"_ _7\"/>ccounting policies of joint vent<span class=\"_ _7\"/>ures and associates hav<span class=\"_ _7\"/>e been aligned where necessar<span class=\"_ _5\"/>y to ensure consistency with the policies adopted by the Group. <span class=\"_ _9\"/>V<span class=\"_ _3\"/>opak\u2019<span class=\"_ _9\"/>s interest in a joint vent<span class=\"_ _7\"/>ure or associate is carried in the statement of financial position at its share in the net assets of the joint venture or associate together with goodwill paid on acquisition, less any impairment loss. <span class=\"_ _9\"/>When the share in the losses ex<span class=\"_ _7\"/>ceeds the carr<span class=\"_ _5\"/>ying amount of an equity-accounted company (including an<span class=\"_ _3\"/>y other receivables f<span class=\"_ _7\"/>orming part of the net inv<span class=\"_ _7\"/>estment in the company), the carrying amount is writ<span class=\"_ _3\"/>ten down to nil and recognition of further losses is discontinued, unless we ha<span class=\"_ _7\"/>ve incurred legal or constructiv<span class=\"_ _7\"/>e obligations relating to the company in question. Note 3.6 <span class=\"_ _8\"/>Assets held for sale  A<span class=\"_ _1e\"> </span><span class=\"ff3 fs9\">Accounting policies </span>Non-current assets and disposal groups are classified as held f<span class=\"_ _7\"/>or sale when their carr<span class=\"_ _5\"/>ying amount is to be recov<span class=\"_ _7\"/>ered principally through a sales transaction and a sale is considered highly probable at the end of the reporting period. <span class=\"_ _9\"/>T<span class=\"_ _7\"/>hey are stated at the low<span class=\"_ _7\"/>er value of the carr<span class=\"_ _5\"/>ying amount and the f<span class=\"_ _7\"/>air value less expected selling costs. <span class=\"_ _9\"/>When the criteria for the held for sale classification ha<span class=\"_ _7\"/>ve been met, the non-current assets subject to depreciation and amortization are no longer depreciated or amortized. In addition, equity accounting for joint vent<span class=\"_ _7\"/>ures and associates ceases once classified as held for sale. B<span class=\"ff3 fsc\">Ke<span class=\"_ _7\"/>y accounting estimates and judgments </span>At the end of the reporting period, management has to assess if the value of the assets will be recov<span class=\"_ _7\"/>ered principally through a divestment transaction rather than through continued use and what the likelihood is that an asset will be div<span class=\"_ _7\"/>ested within a year<span class=\"_ _9\"/>. <span class=\"_ _9\"/>This assessment is based on the facts and circumstances at that date. <span class=\"_ _9\"/>These f<span class=\"_ _7\"/>acts and circumstances may c<span class=\"_ _7\"/>hange and could result in a situation where assets are div<span class=\"_ _7\"/>ested, whic<span class=\"_ _7\"/>h were not classified as held f<span class=\"_ _7\"/>or sale at year<span class=\"_ _9\"/>-end.When classifying non-current assets as held for sale, management mak<span class=\"_ _7\"/>es estimates of their fair value (sales price and e<span class=\"_ _7\"/>xpected costs to sell). Depending on the nature of the non-current assets, the estimated fair v<span class=\"_ _7\"/>alue may be associated with uncertainty and possibly adjusted subsequently<span class=\"_ _7\"/>. Measurement of the fair v<span class=\"_ _7\"/>alue of non-current assets is categorized as le<span class=\"_ _7\"/>vel 2 in the f<span class=\"_ _7\"/>air value hierarc<span class=\"_ _7\"/>hy as measurement is not based on observable market data. Note 3.7 Depr<span class=\"_ _3\"/>eciation and amortization A<span class=\"_ _1e\"> </span><span class=\"ff3 fs9\">Accounting policies </span>The e<span class=\"_ _7\"/>xpected useful lif<span class=\"_ _7\"/>e of sof<span class=\"_ _7\"/>tware intangible assets is normally subject to a maximum of sev<span class=\"_ _7\"/>en years. <span class=\"_ _7\"/>Amortization of other intangible assets and licenses is based on the term of the validity of the contract or term of the validity period and varies from 5-30 y<span class=\"_ _7\"/>ears. Depreciation of property<span class=\"_ _3\"/>, plant and equipment is computed from the date the asset is av<span class=\"_ _7\"/>ailable for use, using the straight-line method o<span class=\"_ _7\"/>ver the e<span class=\"_ _7\"/>xpected useful lif<span class=\"_ _7\"/>e and t<span class=\"_ _5\"/>aking the estimated residual value into account. <span class=\"_ _8\"/>The useful lif<span class=\"_ _3\"/>e of the main assets is as follows: \u2022 <span class=\"_ _19f\"> </span><span class=\"fc1\">for buildings 1<span class=\"_ _9\"/>0-40 years </span>\u2022 <span class=\"_ _19f\"> </span><span class=\"fc1\">for main components of tank storage terminals 1<span class=\"_ _3\"/>0-40 years </span>\u2022 <span class=\"_ _19f\"> </span><span class=\"fc1\">for I<span class=\"_ _7\"/>T hardware 3-5 y<span class=\"_ _7\"/>ears </span>\u2022 <span class=\"_ _19f\"> </span><span class=\"fc1\">for mac<span class=\"_ _3\"/>hiner<span class=\"_ _5\"/>y<span class=\"_ _3\"/>, equipment and fixtures 3-1<span class=\"_ _9\"/>0 years.  </span>\u2022 <span class=\"_ _19f\"> </span><span class=\"fc1\">Land is not depreciated.  </span>The residual v<span class=\"_ _7\"/>alue and useful lif<span class=\"_ _7\"/>e of intangible assets and propert<span class=\"_ _5\"/>y<span class=\"_ _3\"/>, plant and equipment are revie<span class=\"_ _7\"/>wed annually and adjusted if necessary<span class=\"_ _3\"/>. F<span class=\"_ _7\"/>or the accounting policies related to the amortization of the right-of-use assets recognized in relation to the leases of the Group, ref<span class=\"_ _7\"/>erence is made to note 3.4. Ke<span class=\"_ _7\"/>y accounting estimates and judgments Useful lif<span class=\"_ _7\"/>e and residual value of property<span class=\"_ _3\"/>, plant and equipment  Property<span class=\"_ _3\"/>, plant and equipment form a substantial part of the total assets of the company<span class=\"_ _3\"/>, while periodic depreciation c<span class=\"_ _7\"/>harges form a substantial part of the annual operating expenses. <span class=\"_ _8\"/>The useful lif<span class=\"_ _7\"/>e and residual value determined by the Ex<span class=\"_ _7\"/>ecutive B<span class=\"_ _7\"/>oard based on its estimates and assumptions hav<span class=\"_ _7\"/>e a major impact on the measurement and determination of results of property<span class=\"_ _7\"/>, plant and equipment. <span class=\"_ _9\"/>The useful lif<span class=\"_ _3\"/>e of propert<span class=\"_ _5\"/>y<span class=\"_ _3\"/>, plant and equipment is partly estimated based on their useful productive liv<span class=\"_ _7\"/>es, experiences related to suc<span class=\"_ _3\"/>h assets, the maintenance histor<span class=\"_ _5\"/>y and the period during whic<span class=\"_ _7\"/>h the company has the economic benefits from the utilization of the assets. Climate c<span class=\"_ _7\"/>hange, including associated legislation, may af<span class=\"_ _3\"/>fect ho<span class=\"_ _7\"/>w<span class=\"_ _3\"/>, or for how long, items of property<span class=\"_ _3\"/>, plant and equipment may be used. How<span class=\"_ _7\"/>ever most climate-related ph<span class=\"_ _7\"/>ysical risks are expected to manif<span class=\"_ _3\"/>est over a term that is generally longer than the mat<span class=\"_ _7\"/>urity of most of the outstanding exposures. P<span class=\"_ _3\"/>eriodic reviews sho<span class=\"_ _7\"/>w whether c<span class=\"_ _7\"/>hanges have occur<span class=\"_ _7\"/>red in estimates and assumptions as a result of whic<span class=\"_ _7\"/>h the useful lif<span class=\"_ _7\"/>e and/or residual value need to be adjusted accordingly<span class=\"_ _3\"/>. Suc<span class=\"_ _7\"/>h an adjustment is made prospectively<span class=\"_ _9\"/>.   F<span class=\"_ _7\"/>or the key accounting estimates and judgments made with regards to the right-of-use assets recognized in relation to the leases of the Group, ref<span class=\"_ _3\"/>erence is made to note 3.4. Note 3.8 Impair<span class=\"_ _3\"/>ment tests and impair<span class=\"_ _3\"/>ments A<span class=\"_ _1e\"> </span><span class=\"ff3 fs9\">Accounting policies </span>The car<span class=\"_ _7\"/>r<span class=\"_ _5\"/>ying amount of goodwill is tested for impairment annually in the fourth quarter (unless there is reason to do so more frequently), while all assets are tested for impairment whenev<span class=\"_ _7\"/>er ev<span class=\"_ _7\"/>ents or c<span class=\"_ _7\"/>hanges in circumstances indicate that the carr<span class=\"_ _5\"/>ying amounts for those assets may not be reco<span class=\"_ _7\"/>verable. If it is determined that assets are impaired, the carrying amounts of those assets are writ<span class=\"_ _3\"/>ten down to their recov<span class=\"_ _7\"/>erable amount, whic<span class=\"_ _7\"/>h is the higher of fair v<span class=\"_ _7\"/>alue less costs of disposal and value in use.  Impairments of a cash-generating unit are allocated to individual assets of the   cash-generating unit on a proportionate basis. Impairments of intangible assets and   property<span class=\"_ _3\"/>, plant and equipment are presented in the st<span class=\"_ _5\"/>atement of income under Impairment. Impairments, ex<span class=\"_ _7\"/>cept those related to goodwill, are rev<span class=\"_ _7\"/>ersed as applicable to the extent   that the ev<span class=\"_ _7\"/>ents or circumstances that triggered the original impairment have c<span class=\"_ _3\"/>hanged.  All financial assets, including joint vent<span class=\"_ _7\"/>ures and associates, are revie<span class=\"_ _7\"/>wed f<span class=\"_ _7\"/>or impairment. If there is objective e<span class=\"_ _7\"/>vidence of impairment as a result of one or more ev<span class=\"_ _7\"/>ents af<span class=\"_ _7\"/>ter initial recognition, an impairment loss is recognized in the statement of income. <span class=\"_ _9\"/>T<span class=\"_ _7\"/>he impairments for joint v<span class=\"_ _7\"/>entures and associates are presented under R<span class=\"_ _7\"/>esult of joint vent<span class=\"_ _7\"/>ures and associates. Ke<span class=\"_ _7\"/>y accounting estimates and judgments Impairment analysis  V<span class=\"_ _3\"/>alue in use is determined as the amount of estimated discounted future cash flows. F<span class=\"_ _3\"/>or this purpose, assets are grouped into cash-generating units based on separately identifiable and largely independent cash flows. <span class=\"_ _8\"/>The cash flow projections are based on re<span class=\"_ _7\"/>venues, operating expenses and sustaining capital expenditures of the appro<span class=\"_ _7\"/>ved budget f<span class=\"_ _7\"/>or the coming year and the two subsequent planning years. Cash flo<span class=\"_ _7\"/>ws beyond the pre<span class=\"_ _7\"/>viously mentioned period of three years are e<span class=\"_ _7\"/>xtrapolated, using a stable or decreasing growth rate, unless an increasing rate can be substantiated. Given that the cash flows are estimated bef<span class=\"_ _7\"/>ore taxes, the discount rates used to calculate the present value of the cash flo<span class=\"_ _7\"/>ws are pre-tax rates based on the risk-free rates for bonds issued by the go<span class=\"_ _7\"/>vernment in the relev<span class=\"_ _7\"/>ant market, adjusted f<span class=\"_ _7\"/>or a risk premium and specific risks relating to the countries and risks specific to the assets. <span class=\"_ _9\"/>The bonds period reflects the   av<span class=\"_ _7\"/>erage remaining useful life of the principal assets. <span class=\"_ _3\"/>As a company based in Europe, the Group assumes the long-term market equity risk premium to be 6.5% (2021: 6.5%).   When performing an impairment test, management mak<span class=\"_ _7\"/>es an assessment of whether the cash-generating unit (mostly an individual terminal) will be able to generate positive net cash flo<span class=\"_ _7\"/>ws that are suf<span class=\"_ _7\"/>ficient to support the value of the intangible assets, property<span class=\"_ _7\"/>, plant and equipment, and financial assets.   F<span class=\"_ _7\"/>or value in use, the assessment is based on estimates of fut<span class=\"_ _7\"/>ure expected cash flows (value in use) made on the basis of the budget f<span class=\"_ _7\"/>or the coming year and two subsequent plan years, whic<span class=\"_ _3\"/>h form the basis for the 1<span class=\"_ _3\"/>5-year period discounted cash flo<span class=\"_ _7\"/>w model. Key assumptions applied are generally: the expected occupancy<span class=\"_ _9\"/>, the estimated storage rate per cbm (for rev<span class=\"_ _7\"/>enues not cov<span class=\"_ _7\"/>ered by long-term contracts), sustaining capex expendit<span class=\"_ _3\"/>ures, expected growth rates and the estimated terminal value af<span class=\"_ _3\"/>ter the 1<span class=\"_ _7\"/>5-year period, together with the applied discount rates.   F<span class=\"_ _7\"/>or value in use of oil assets, the assessment is impacted by the energy transition. In 2022, the cash flow f<span class=\"_ _7\"/>orecast period of suc<span class=\"_ _7\"/>h assets is extended from a 1<span class=\"_ _3\"/>5-year period (whic<span class=\"_ _7\"/>h continues to be used for non-oil terminals) to include the period in whic<span class=\"_ _3\"/>h the energy transition is expected to take place. Ke<span class=\"_ _7\"/>y assumptions applied are generally: the expected occupancy<span class=\"_ _9\"/>, the estimated storage rate per cbm (for re<span class=\"_ _7\"/>venues not cov<span class=\"_ _7\"/>ered by long-term contracts), sustaining capex e<span class=\"_ _7\"/>xpenditures, expected (decreasing) gro<span class=\"_ _7\"/>wth rates based on most recent IEA energy transition scenarios in  a range of -3% and -4% and the estimated terminal value together with the applied discount rates. A<span class=\"_ _7\"/>s there is significant uncertaint<span class=\"_ _5\"/>y on how the energy transition will impact our estimates these remain subject to constant review and monitoring.   Fair v<span class=\"_ _7\"/>alue less cost of disposal is primarily based either on comparable market-multiples and/or (indicative) (non-)binding bids or discounted cash flo<span class=\"_ _7\"/>w models from the perspective of a willing buy<span class=\"_ _7\"/>er in an orderly transaction.   In certain situations, the fair v<span class=\"_ _7\"/>alue less cost of disposal of a terminal may be based on (preliminar<span class=\"_ _5\"/>y) of<span class=\"_ _7\"/>f<span class=\"_ _7\"/>ers received from interested parties (le<span class=\"_ _7\"/>vel 2 fair v<span class=\"_ _7\"/>alue). Although suc<span class=\"_ _3\"/>h off<span class=\"_ _3\"/>ers are conditional/preliminar<span class=\"_ _5\"/>y by nat<span class=\"_ _7\"/>ure, management considers whether these of<span class=\"_ _7\"/>f<span class=\"_ _7\"/>ers may be representative of the fair v<span class=\"_ _7\"/>alue of the terminals concerned and assesses whether it is probable   that these terminals will be sold in the coming twelve months af<span class=\"_ _3\"/>ter the reporting period, resulting in a situation where the car<span class=\"_ _7\"/>r<span class=\"_ _5\"/>ying amount will be recovered principally through a sale instead of through continued use.   These k<span class=\"_ _7\"/>ey assumptions are based on the current f<span class=\"_ _7\"/>acts and circumstances and information av<span class=\"_ _7\"/>ailable to management. By nature, these assumptions are subject to de<span class=\"_ _7\"/>velopments and c<span class=\"_ _3\"/>hange in later periods. <span class=\"_ _9\"/>This could potentially lead to (re<span class=\"_ _7\"/>versal of) impairments of individual terminals going for<span class=\"_ _5\"/>ward. A<span class=\"_ _1e\"> </span><span class=\"ff3 fs9\">Accounting policies </span>T<span class=\"_ _9\"/>rade receiv<span class=\"_ _7\"/>ables are amounts due from customers for ser<span class=\"_ _5\"/>vices rendered in the ordinar<span class=\"_ _5\"/>y course of business. <span class=\"_ _9\"/>T<span class=\"_ _8\"/>rade and other receivables are recognized initially at f<span class=\"_ _7\"/>air value. <span class=\"_ _8\"/>The Group holds trade receivables with the objectiv<span class=\"_ _7\"/>e to collect the contractual cash flo<span class=\"_ _7\"/>ws and therefore the Group measures them subsequently at amortiz<span class=\"_ _7\"/>ed cost using the ef<span class=\"_ _7\"/>f<span class=\"_ _7\"/>ective interest method, less any pro<span class=\"_ _7\"/>vision for impairment. <span class=\"_ _8\"/>T<span class=\"_ _9\"/>rade receivables are generally due f<span class=\"_ _7\"/>or set<span class=\"_ _3\"/>tlement within 30 days and theref<span class=\"_ _7\"/>ore are all classified as current. The group applies the simplified approac<span class=\"_ _3\"/>h for measuring e<span class=\"_ _7\"/>xpected credit losses whic<span class=\"_ _7\"/>h uses a lif<span class=\"_ _7\"/>etime expected loss allo<span class=\"_ _7\"/>wance f<span class=\"_ _7\"/>or all trade receivables and contract assets. T<span class=\"_ _9\"/>rade receiv<span class=\"_ _7\"/>ables are writ<span class=\"_ _7\"/>ten of<span class=\"_ _7\"/>f (impaired) when objective e<span class=\"_ _7\"/>vidence indicates that there is no reasonable expectation of recov<span class=\"_ _7\"/>er<span class=\"_ _5\"/>y<span class=\"_ _3\"/>. <span class=\"_ _9\"/>T<span class=\"_ _7\"/>his is based on an individual revie<span class=\"_ _7\"/>w for impairment due to an increase of the credit risk of the customer<span class=\"_ _3\"/>, past due amounts and taking into account any retention right on product stored f<span class=\"_ _7\"/>or this customer<span class=\"_ _3\"/>. The creation and release of a pro<span class=\"_ _7\"/>vision for impaired trade receiv<span class=\"_ _7\"/>ables are recognized under Other operating expenses in the income statement.  Other receivables include among others contract assets f<span class=\"_ _7\"/>or ser<span class=\"_ _5\"/>vices transf<span class=\"_ _7\"/>erred to the customer and the dividend receivables from joint v<span class=\"_ _7\"/>entures and associates f<span class=\"_ _7\"/>or whic<span class=\"_ _3\"/>h the decision about dividend distribution was taken bef<span class=\"_ _7\"/>ore year<span class=\"_ _9\"/>-end. A<span class=\"_ _1e\"> </span><span class=\"ff3 fs9\">Accounting policies </span>T<span class=\"_ _9\"/>rade and other pa<span class=\"_ _7\"/>yables represent liabilities for goods and services provided by suppliers to the Group prior to the end of the financial year whic<span class=\"_ _3\"/>h are unpaid. <span class=\"_ _9\"/>T<span class=\"_ _7\"/>hese are presented as current liabilities unless pa<span class=\"_ _7\"/>yment is not due within 1<span class=\"_ _7\"/>2 months af<span class=\"_ _7\"/>ter the reporting period. T<span class=\"_ _9\"/>rade and other pa<span class=\"_ _7\"/>yables are initially recognized at their f<span class=\"_ _3\"/>air value and subsequently measured at amortized cost using the ef<span class=\"_ _3\"/>f<span class=\"_ _7\"/>ective interest method. EQUITY Note 5.1 Issued capital,<span class=\"_ _3\"/> share pr<span class=\"_ _3\"/>emium, tr<span class=\"_ _3\"/>easury shares and capital management A<span class=\"_ _1e\"> </span><span class=\"ff3 fs9\">Accounting policies </span>T<span class=\"_ _9\"/>reasur<span class=\"_ _5\"/>y shares that are reacquired are recogniz<span class=\"_ _7\"/>ed at cost and deducted from equit<span class=\"_ _5\"/>y until the shares are cancelled or reissued. Upon cancellation, treasur<span class=\"_ _5\"/>y shares are deducted from the share capital at their nominal value of EUR 0.50 per share. An<span class=\"_ _7\"/>y dif<span class=\"_ _3\"/>ference between the carr<span class=\"_ _5\"/>ying amount and the consideration receiv<span class=\"_ _7\"/>ed when treasur<span class=\"_ _5\"/>y shares are reissued, is recognized directly in equity<span class=\"_ _3\"/>. BORRO<span class=\"_ _9\"/>WINGS Note 5.5 Int<span class=\"_ _3\"/>erest-bear<span class=\"_ _3\"/>ing loans and net debt A<span class=\"_ _1e\"> </span><span class=\"ff3 fs9\">Accounting policies </span>Interest-bearing loans and borro<span class=\"_ _7\"/>wings are recognized initially at fair v<span class=\"_ _3\"/>alue net of directly at<span class=\"_ _3\"/>tribut<span class=\"_ _5\"/>able transaction costs<span class=\"ws12\">. A</span>f<span class=\"_ _3\"/>ter initial recognition, these items are subsequently measured at amortized costs, applying the ef<span class=\"_ _3\"/>f<span class=\"_ _7\"/>ective interest method unless the interest ratehas been conv<span class=\"_ _7\"/>erted in a hedge relation from fixed into floating b<span class=\"_ _7\"/>y means of a fair v<span class=\"_ _7\"/>alue hedge. In that case, the carr<span class=\"_ _5\"/>ying amount is adjusted f<span class=\"_ _7\"/>or the fair value c<span class=\"_ _3\"/>hanges caused by the hedged risk. Bor<span class=\"_ _7\"/>rowings are remov<span class=\"_ _3\"/>ed from the balance sheet when the obligation specified in the contract is disc<span class=\"_ _3\"/>harged, cancelled or expired. F<span class=\"_ _7\"/>ees paid on the establishment of loan facilities are recognized as transaction costs of the loan to the extent that it is probable that some or all of the f<span class=\"_ _7\"/>acility will be drawn down. In this case, the f<span class=\"_ _7\"/>ee is def<span class=\"_ _7\"/>erred until the draw<span class=\"_ _7\"/>down occurs. <span class=\"_ _8\"/>T<span class=\"_ _9\"/>o the extent there is no e<span class=\"_ _7\"/>vidence that it is probable that some or all of the facility will be drawn do<span class=\"_ _7\"/>wn, the f<span class=\"_ _7\"/>ee is capitalized as pre-payment f<span class=\"_ _7\"/>or liquidity ser<span class=\"_ _5\"/>vices and amortized on a straight-line basis ov<span class=\"_ _7\"/>er the period of the facility to whic<span class=\"_ _3\"/>h it relates. F<span class=\"_ _7\"/>or the accounting policies of the Lease liabilities, ref<span class=\"_ _3\"/>erence is made to note 3.4. Cash and cash equivalents include all cash balances, short-term deposits and other   short-term, highly liquid inv<span class=\"_ _7\"/>estments with original maturities of three months or less that are readily conv<span class=\"_ _7\"/>ertible to known amounts of cash and whic<span class=\"_ _3\"/>h are subject to an insignificant risk of c<span class=\"_ _3\"/>hanges in value, net of specific outstanding bank overdraf<span class=\"_ _3\"/>ts when they are considered an integral part of the Group\u2019<span class=\"_ _9\"/>s cash management. F<span class=\"_ _7\"/>or the years presented, there were no material short-term deposits positions outstanding per year<span class=\"_ _9\"/>-end. Note 5.6 Net finance costs A<span class=\"_ _1e\"> </span><span class=\"ff3 fs9\">Accounting policies </span>General and specific borro<span class=\"_ _7\"/>wing costs, including the cost of hedging<span class=\"_ _5\"/>, that are directly at<span class=\"_ _3\"/>tribut<span class=\"_ _5\"/>able to the acquisition or construction of a qualifying asset are capitalized during the period of time that is required to complete and prepare the asset for its intended use or sale. Qualifying assets are assets that necessarily take a substantial period of time (&gt; 1 year) to get ready for their intended use or sale. Other bor<span class=\"_ _7\"/>rowing costs are expensed in the period in whic<span class=\"_ _3\"/>h they are incurred. Interest income from granted loans is presented under Interest income. Interest income  is calculated by applying the ef<span class=\"_ _3\"/>f<span class=\"_ _7\"/>ective interest rate to the gross carrying amount of a  financial asset ex<span class=\"_ _7\"/>cept for financial assets that subsequently become credit-impaired.  F<span class=\"_ _7\"/>or credit-impaired financial assets, the ef<span class=\"_ _7\"/>f<span class=\"_ _7\"/>ective interest rate is applied to the net carrying amount of the financial asset (af<span class=\"_ _3\"/>ter deduction of the loss allowance). Finance costs consist primarily of interest, fair v<span class=\"_ _7\"/>alue gains/losses on derivativ<span class=\"_ _7\"/>es not in a hedge relationship and ex<span class=\"_ _7\"/>c<span class=\"_ _3\"/>hange diff<span class=\"_ _3\"/>erences on loans drawn and of results on hedging instruments recogniz<span class=\"_ _7\"/>ed in the statement of income. Interest expenses are recognized in the period to whic<span class=\"_ _3\"/>h they relate, taking into account the eff<span class=\"_ _3\"/>ective interest rate. A<span class=\"_ _1e\"> </span><span class=\"ff3 fs9\">Accounting policies </span>Derivativ<span class=\"_ _7\"/>e financial instruments are recogniz<span class=\"_ _7\"/>ed in the statement of financial position on the transaction date and measured at fair v<span class=\"_ _7\"/>alue. Changes in fair v<span class=\"_ _7\"/>alue are recognized in the statement of income unless hedge accounting is applied. <span class=\"_ _3\"/>W<span class=\"_ _5\"/>ith respect to hedge accounting, V<span class=\"_ _3\"/>opak makes a distinction between f<span class=\"_ _7\"/>air value hedges, cash flo<span class=\"_ _7\"/>w hedges and hedges of net inv<span class=\"_ _7\"/>estments in foreign operations. Derivativ<span class=\"_ _7\"/>es are only used for economic hedging purposes and not as speculativ<span class=\"_ _7\"/>e inv<span class=\"_ _7\"/>estments. How<span class=\"_ _7\"/>ev<span class=\"_ _7\"/>er<span class=\"_ _3\"/>, where derivativ<span class=\"_ _7\"/>es do not meet the hedging criteria, they are classified as \u2018held for trading\u2019 f<span class=\"_ _7\"/>or accounting purposes. At the inception of the hedging transaction, the Group formally designates and documents the economic relationship between eligible hedging instruments and hedged items to whic<span class=\"_ _3\"/>h it will apply hedge accounting and the risk management objective and strategy f<span class=\"_ _7\"/>or undertaking the hedge.  The documentation includes identification of the hedging instrument, the hedged item, the nature of the risk being hedged and ho<span class=\"_ _7\"/>w the Group will assess whether the hedging relationship meets the hedge ef<span class=\"_ _7\"/>f<span class=\"_ _7\"/>ectiveness requirements (including the analy<span class=\"_ _7\"/>sis of sources of hedge inef<span class=\"_ _7\"/>f<span class=\"_ _7\"/>ectiveness and ho<span class=\"_ _7\"/>w the hedge ratio is determined). A hedging relationship qualifies for hedge accounting if it meets all of the f<span class=\"_ _7\"/>ollowing ef<span class=\"_ _3\"/>f<span class=\"_ _7\"/>ectiveness requirements: \u2022 <span class=\"_ _19f\"> </span>There is \u2018an economic relationship\u2019 between the hedged item and the hedging instr<span class=\"_ _7\"/>ument \u2022 <span class=\"_ _19f\"> </span><span class=\"fc1\">The ef<span class=\"_ _3\"/>f<span class=\"_ _7\"/>ect of credit risk does not \u2018dominate the value c<span class=\"_ _3\"/>hanges\u2019 that result from that </span>economic relationship \u2022 <span class=\"_ _19f\"> </span>The hedge ratio of the hedging relationship is the same as that resulting from the quantity of the hedged item that the Group actually hedges and the quantity of the hedging instrument that the Group act<span class=\"_ _3\"/>ually uses to hedge that quantit<span class=\"_ _5\"/>y of hedged item. Hedge ef<span class=\"_ _7\"/>f<span class=\"_ _7\"/>ectiveness is determined at the inception of the hedge relationship, and through periodic prospective ef<span class=\"_ _3\"/>f<span class=\"_ _7\"/>ectiveness assessments, to ensure that an economic relationship exists between the hedged item and hedging instr<span class=\"_ _7\"/>ument. F<span class=\"_ _7\"/>air v<span class=\"_ _7\"/>alue hedges The Group normally only applies f<span class=\"_ _7\"/>air value hedge accounting f<span class=\"_ _7\"/>or hedging fixed-interest risk on loans drawn. Changes in the f<span class=\"_ _7\"/>air value of deriv<span class=\"_ _7\"/>atives that are designated and qualify as f<span class=\"_ _7\"/>air value hedges are recorded in the income statement, together with any c<span class=\"_ _3\"/>hanges in the fair value of the hedged item that are at<span class=\"_ _3\"/>tributable to the hedged risk. <span class=\"_ _9\"/>The gain or loss relating to the ef<span class=\"_ _7\"/>f<span class=\"_ _7\"/>ective and inef<span class=\"_ _3\"/>f<span class=\"_ _7\"/>ective portion of the derivativ<span class=\"_ _7\"/>e is recognized in the income statement within Net finance costs, together with c<span class=\"_ _3\"/>hanges in the fair value of the hedged fix<span class=\"_ _7\"/>ed-rate borro<span class=\"_ _7\"/>wings at<span class=\"_ _7\"/>tributable to interest rate risk. F<span class=\"_ _7\"/>or fair v<span class=\"_ _7\"/>alue hedges relating to items carried at amortized cost, an<span class=\"_ _7\"/>y adjustment to carr<span class=\"_ _5\"/>ying value is amortiz<span class=\"_ _7\"/>ed through the income statement over the remaining term of the hedge using the Ef<span class=\"_ _7\"/>f<span class=\"_ _7\"/>ective Interest R<span class=\"_ _7\"/>ate (EIR) method. <span class=\"_ _9\"/>The EIR amortization ma<span class=\"_ _7\"/>y begin as soon as an adjustment exists and no later than when the hedged item ceases to be adjusted f<span class=\"_ _7\"/>or c<span class=\"_ _3\"/>hanges in its fair value at<span class=\"_ _3\"/>tributable to the risk being hedged. If the hedge no longer meets the criteria for hedge accounting, the adjustment to the carr<span class=\"_ _5\"/>ying amount of a hedged item f<span class=\"_ _7\"/>or whic<span class=\"_ _7\"/>h the ef<span class=\"_ _7\"/>f<span class=\"_ _7\"/>ective interest method is used is amortized to the income statement ov<span class=\"_ _7\"/>er the period to maturity using a recalculated ef<span class=\"_ _3\"/>fectiv<span class=\"_ _7\"/>e interest rate. Cash flow hedg<span class=\"_ _7\"/>es A cash flow hedge is applicable f<span class=\"_ _7\"/>or those derivativ<span class=\"_ _7\"/>es qualifying and designated as a hedge of the c<span class=\"_ _3\"/>hange in cash flows to be received or paid relating to a recogniz<span class=\"_ _7\"/>ed asset or liability or a highly probable forecasted transaction. Hedge ef<span class=\"_ _3\"/>f<span class=\"_ _7\"/>ectiveness is determined at the inception of the hedge relationship, and through periodic prospective ef<span class=\"_ _3\"/>f<span class=\"_ _7\"/>ectiveness assessments to ensure that an economic relationship exists between the hedged item and hedging instrument. <span class=\"_ _8\"/>The Group enters into hedge relationships where the critical terms of the hedging instrument matc<span class=\"_ _3\"/>h exactly with the terms of the hedged item, and thus a qualitative assessment of ef<span class=\"_ _7\"/>f<span class=\"_ _7\"/>ectiveness is perf<span class=\"_ _7\"/>ormed. If c<span class=\"_ _7\"/>hanges in circumstances aff<span class=\"_ _3\"/>ect the terms of the hedged item suc<span class=\"_ _3\"/>h that the critical terms no longer match e<span class=\"_ _3\"/>xactly with the critical terms of the hedging instrument, the Group uses the dollar of<span class=\"_ _3\"/>fset method to assess ef<span class=\"_ _7\"/>f<span class=\"_ _7\"/>ectiveness. The ef<span class=\"_ _3\"/>f<span class=\"_ _7\"/>ective parts of c<span class=\"_ _3\"/>hanges in the fair value of deriv<span class=\"_ _7\"/>ative financial instr<span class=\"_ _3\"/>uments are recognized in Other comprehensiv<span class=\"_ _7\"/>e income. Inef<span class=\"_ _7\"/>f<span class=\"_ _7\"/>ectiveness on cash flo<span class=\"_ _7\"/>w hedges is recognized where the cumulativ<span class=\"_ _7\"/>e c<span class=\"_ _3\"/>hange in the designated component value of the hedging instrument e<span class=\"_ _7\"/>xceeds, on an absolute basis, the c<span class=\"_ _3\"/>hange in value of the hedged item at<span class=\"_ _3\"/>tribut<span class=\"_ _5\"/>able to the hedged risk. The gain or loss as a result of inef<span class=\"_ _3\"/>f<span class=\"_ _7\"/>ectiveness and the interest component that is a result of the time value of mone<span class=\"_ _7\"/>y in the valuation of the deriv<span class=\"_ _7\"/>ative financial instr<span class=\"_ _7\"/>ument are recognized directly in the statement of income. <span class=\"_ _9\"/>This also applies to the credit risks on deriv<span class=\"_ _7\"/>atives, unless the cumulative c<span class=\"_ _3\"/>hange in the fair v<span class=\"_ _7\"/>alue of the hedging instrument is lo<span class=\"_ _7\"/>wer than the hedged item. Amounts accumulated in equity are reclassified to profit or loss at the same date as the hedged transaction af<span class=\"_ _7\"/>f<span class=\"_ _7\"/>ects profit or loss or if the hedged transaction is no longer probable. The ef<span class=\"_ _3\"/>f<span class=\"_ _7\"/>ects are shown under Finance costs. If the established agreement or the foreseeable transaction that is hedged results in the recognition of a non-financial asset, the accumulated gains or losses previously def<span class=\"_ _3\"/>erred in equity are reclassified from equit<span class=\"_ _5\"/>y and recognized in the initial recognition of the asset or liability<span class=\"_ _3\"/>. If a hedging instrument or the hedge relationship is terminated but the hedged transaction is still expected to take place, the accumulated gains or losses will remain in equity at that time and will subsequently be recognized in the statement of income when the previously hedged transaction takes place. Net inv<span class=\"_ _7\"/>estment hedges Net inv<span class=\"_ _7\"/>estments in foreign operations can be hedged (net in<span class=\"_ _7\"/>vestment hedge) b<span class=\"_ _7\"/>y qualifying and designated derivativ<span class=\"_ _7\"/>e financial instruments or debt instr<span class=\"_ _3\"/>uments denominated in foreign currency<span class=\"_ _9\"/>. Hedges of a net investment in a f<span class=\"_ _7\"/>oreign operation, including a hedge of a monetar<span class=\"_ _5\"/>y item that is accounted for as part of the net in<span class=\"_ _7\"/>vestment, are accounted f<span class=\"_ _7\"/>or in a wa<span class=\"_ _7\"/>y similar to cash flow hedges. Gains or losses on the hedging instr<span class=\"_ _7\"/>ument relating to the ef<span class=\"_ _3\"/>fectiv<span class=\"_ _7\"/>e portion of the hedge are recognized in the translation reserve (equity component) via OCI to the extent that the<span class=\"_ _7\"/>y relate to the hedging of net inv<span class=\"_ _7\"/>estments in foreign activities. <span class=\"_ _8\"/>The gain or loss relating to the inef<span class=\"_ _7\"/>f<span class=\"_ _7\"/>ective portion is recogniz<span class=\"_ _7\"/>ed immediately in the income statement. Re<span class=\"_ _7\"/>versal through the statement of income takes place proportionately if all or part of the underlying position is derecognized. <span class=\"_ _8\"/>The inef<span class=\"_ _3\"/>fectiv<span class=\"_ _7\"/>e part and the interest component are recognized directly in the statement of income.  Der<span class=\"_ _7\"/>iv<span class=\"_ _7\"/>atives that do not qualify f<span class=\"_ _7\"/>or hedge accounting Certain derivative instr<span class=\"_ _7\"/>uments do not qualify for hedge accounting. Changes in the fair v<span class=\"_ _7\"/>alue of any deriv<span class=\"_ _7\"/>ative instr<span class=\"_ _7\"/>ument that does not qualify for hedge accounting are recogniz<span class=\"_ _7\"/>ed immediately in the income statement and are included in the Finance costs. <span class=\"_ _9\"/>This mainly comprises derivativ<span class=\"_ _7\"/>es that are used to hedge the foreign currency risk on intra-group positions. Although the deriv<span class=\"_ _7\"/>atives ha<span class=\"_ _7\"/>ve not been designated in a hedge relationship, the<span class=\"_ _7\"/>y act as an economic hedge and will of<span class=\"_ _7\"/>fset the underlying transactions when they occur<span class=\"_ _9\"/>. <span class=\"ff3 fsc\">Ke<span class=\"_ _7\"/>y accounting estimates and judgments </span>The f<span class=\"_ _7\"/>air value of a derivativ<span class=\"_ _7\"/>e financial instrument not traded on activ<span class=\"_ _7\"/>e markets is measured as the present value of the e<span class=\"_ _7\"/>xpected future cash flo<span class=\"_ _7\"/>ws under the contract (level 2 f<span class=\"_ _7\"/>air value). In determining this value, a v<span class=\"_ _7\"/>aluation model is used that is based on the interest rates and the ex<span class=\"_ _7\"/>c<span class=\"_ _7\"/>hange rates as at the end of the reporting period. Ref<span class=\"_ _3\"/>erence is made to note 9.9 for more information.  A<span class=\"_ _1e\"> </span><span class=\"ff3 fs9\">Accounting policies <span class=\"fs11 fc3 ws28\">  </span></span>Shar<span class=\"_ _7\"/>e-based compensation <span class=\"fs11 fc3 ws28\">  </span>The f<span class=\"_ _7\"/>air value of equity-set<span class=\"_ _3\"/>tled share-based compensation plans is determined at the date of granting and expensed in the statement of income based on the Group\u2019<span class=\"_ _9\"/>s estimate of the shares that will ev<span class=\"_ _7\"/>entually v<span class=\"_ _7\"/>est ov<span class=\"_ _7\"/>er the period in whic<span class=\"_ _7\"/>h the ser<span class=\"_ _5\"/>vice is rendered (vesting period) with a corresponding adjustment directly in equity<span class=\"_ _3\"/>. <span class=\"_ _9\"/>The f<span class=\"_ _3\"/>air value of cash-set<span class=\"_ _7\"/>tled share-based compensation plans is determined at the date of granting and is remeasured at eac<span class=\"_ _3\"/>h reporting date until the liabilit<span class=\"_ _5\"/>y is set<span class=\"_ _3\"/>tled and is recognized ov<span class=\"_ _7\"/>er the vesting period as an expense to the e<span class=\"_ _7\"/>xtent to whic<span class=\"_ _3\"/>h participants have rendered services to date.    Generally<span class=\"_ _3\"/>, the compensation cost is recognized on a straight-line basis o<span class=\"_ _7\"/>ver the v<span class=\"_ _7\"/>esting period. <span class=\"_ _9\"/>T<span class=\"_ _7\"/>he amounts expensed are adjusted o<span class=\"_ _7\"/>ver the v<span class=\"_ _7\"/>esting period for c<span class=\"_ _3\"/>hanges in the estimate of the number of shares and the equivalent in cash that will e<span class=\"_ _7\"/>vent<span class=\"_ _7\"/>ually vest. Adjustments are made at the end of eac<span class=\"_ _3\"/>h reporting period to reflect expected and act<span class=\"_ _7\"/>ual forf<span class=\"_ _3\"/>eitures during the v<span class=\"_ _7\"/>esting period due to the failure to satisfy ser<span class=\"_ _5\"/>vice conditions or non-market perf<span class=\"_ _7\"/>ormance conditions, being profitabilit<span class=\"_ _5\"/>y growth targets (EPS), Strategy Execution (pre<span class=\"_ _7\"/>viously named <span class=\"_ _3\"/>\u201cStrategic Direction<span class=\"_ _3\"/>\u201d) and Sust<span class=\"_ _5\"/>ainability Execution (for L<span class=\"_ _9\"/>TSP and L<span class=\"_ _9\"/>TCP 2022-2024) as well as ser<span class=\"_ _5\"/>vice conditions suc<span class=\"_ _3\"/>h as remaining an employee of the Group ov<span class=\"_ _7\"/>er a specified time period.   An equity-set<span class=\"_ _3\"/>tled share-based payment aw<span class=\"_ _7\"/>ard with a net set<span class=\"_ _7\"/>tlement f<span class=\"_ _7\"/>eature f<span class=\"_ _7\"/>or withholding tax obligations is treated as equit<span class=\"_ _5\"/>y-set<span class=\"_ _3\"/>tled in its entirety<span class=\"_ _3\"/>.   Other long-ter<span class=\"_ _3\"/>m remuner<span class=\"_ _7\"/>ation  Long-term remuneration set<span class=\"_ _3\"/>tled in cash that depends on the dev<span class=\"_ _7\"/>elopment of the earnings per ordinar<span class=\"_ _5\"/>y share (EPS) -ex<span class=\"_ _7\"/>cluding ex<span class=\"_ _7\"/>ceptional items- during a period of three years is allocated to these years based on the latest estimates of the EPS -e<span class=\"_ _7\"/>xcluding e<span class=\"_ _7\"/>xceptional items- and are not treated as share-based payment plans. Liabilities are remeasured at the end of eac<span class=\"_ _3\"/>h reporting period.   Note 7<span class=\"_ _2\"/>.3 Related par<span class=\"_ _7\"/>ties  T<span class=\"_ _1\"/>ransactions with Supervisory Boar<span class=\"_ _7\"/>d members and Executiv<span class=\"_ _7\"/>e Board members <span class=\"_ _25\"/> F<span class=\"_ _7\"/>or the remuneration of Super<span class=\"_ _5\"/>visor<span class=\"_ _5\"/>y Board members and Ex<span class=\"_ _7\"/>ecutive B<span class=\"_ _7\"/>oard members, the ke<span class=\"_ _7\"/>y management of the Group, ref<span class=\"_ _7\"/>erence is made to the sections Remuneration of the Super<span class=\"_ _5\"/>visor<span class=\"_ _5\"/>y Board in 2022 and Ex<span class=\"_ _7\"/>ecutive B<span class=\"_ _7\"/>oard Remuneration in 2022 of the R<span class=\"_ _7\"/>emuneration report, whic<span class=\"_ _3\"/>h are deemed part of these financial st<span class=\"_ _5\"/>atements.  No loans, advances or guarantees ha<span class=\"_ _7\"/>ve been pro<span class=\"_ _7\"/>vided to current or former members of the Super<span class=\"_ _5\"/>visor<span class=\"_ _5\"/>y Board and the Ex<span class=\"_ _7\"/>ecutive B<span class=\"_ _7\"/>oard.  F<span class=\"_ _7\"/>or both years presented, the Group has not conducted an<span class=\"_ _7\"/>y transactions with companies in whic<span class=\"_ _3\"/>h Executive B<span class=\"_ _7\"/>oard members and/or persons closely related to them hav<span class=\"_ _7\"/>e a significant financial interest.  T<span class=\"_ _1\"/>ransactions with joint v<span class=\"_ _7\"/>entur<span class=\"_ _7\"/>es and associates   The transactions with our joint v<span class=\"_ _7\"/>entures and associates, other than pro<span class=\"_ _7\"/>viding equity and receiving dividends, principally consist of f<span class=\"_ _7\"/>ees for services provided by the Group, loans issued by the Group and the related interest income.  T<span class=\"_ _1\"/>ransactions with major shar<span class=\"_ _7\"/>eholders  Besides the annual dividend distribution, no material related party transactions hav<span class=\"_ _7\"/>e been entered into with the major shareholders during the years presented.  V<span class=\"_ _3\"/>opak has been informed b<span class=\"_ _7\"/>y HAL Holding N.V<span class=\"_ _8\"/>. (\u2018HAL<span class=\"_ _2\"/>\u2019), that it is tec<span class=\"_ _7\"/>hnically required for HAL to consolidate <span class=\"_ _3\"/>V<span class=\"_ _9\"/>opak in its Consolidated financial st<span class=\"_ _5\"/>atements as from 1 January 20<span class=\"_ _3\"/>14. Accordingly<span class=\"_ _9\"/>, HAL has requested <span class=\"_ _3\"/>V<span class=\"_ _3\"/>opak to provide detailed accounting information with respect to the Consolidated financial statements in order for HAL to be able to consolidate V<span class=\"_ _3\"/>opak in its Consolidated statements. <span class=\"_ _9\"/>T<span class=\"_ _9\"/>o f<span class=\"_ _7\"/>acilit<span class=\"_ _5\"/>ate HAL in complying with its obligations under IFRS 1<span class=\"_ _9\"/>0, a Memorandum of Underst<span class=\"_ _5\"/>anding w<span class=\"_ _7\"/>as signed bet<span class=\"_ _5\"/>ween <span class=\"_ _9\"/>V<span class=\"_ _3\"/>opak and HAL with respect to confidentiality<span class=\"_ _3\"/>, the process of exc<span class=\"_ _3\"/>hanging information, subsequent e<span class=\"_ _7\"/>vents procedures, external auditor in<span class=\"_ _7\"/>volv<span class=\"_ _7\"/>ement and at<span class=\"_ _7\"/>tendance rights to the A<span class=\"_ _3\"/>udit Committee meetings for an independent financial e<span class=\"_ _7\"/>xpert on behalf of HAL.  T<span class=\"_ _1\"/>ransactions with pension funds   Related party transactions with <span class=\"_ _3\"/>V<span class=\"_ _9\"/>opak\u2019<span class=\"_ _3\"/>s pension funds are presented in note 9.4.  Note 8.1 Income tax<span class=\"_ _3\"/>es  A<span class=\"_ _1e\"> </span><span class=\"ff3 fs9\">Accounting policies  </span>T<span class=\"_ _9\"/>axes on profit or loss f<span class=\"_ _7\"/>or the financial year comprise current and def<span class=\"_ _3\"/>erred taxes. <span class=\"_ _9\"/>T<span class=\"_ _9\"/>axes are recognized in the statement of income unless they relate to items directly recogniz<span class=\"_ _7\"/>ed in Other comprehensive income or directly in equity<span class=\"_ _3\"/>.   Current taxes are the e<span class=\"_ _7\"/>xpected t<span class=\"_ _5\"/>axes pa<span class=\"_ _3\"/>yable on the taxable income for the year<span class=\"_ _9\"/>, using t<span class=\"_ _5\"/>ax rates substantially enacted at the end of the reporting period, plus any adjustments to prior<span class=\"_ _9\"/>-year tax pay<span class=\"_ _7\"/>able.   Def<span class=\"_ _7\"/>erred taxes are provided f<span class=\"_ _3\"/>or<span class=\"_ _3\"/>, using the liabilit<span class=\"_ _5\"/>y method, whereby pro<span class=\"_ _7\"/>visions are made for all taxable temporar<span class=\"_ _5\"/>y diff<span class=\"_ _3\"/>erences bet<span class=\"_ _5\"/>w<span class=\"_ _7\"/>een the carr<span class=\"_ _5\"/>ying amounts of assets and liabilities for financial reporting purposes and their tax base. No defer<span class=\"_ _7\"/>red t<span class=\"_ _5\"/>axes are pro<span class=\"_ _3\"/>vided for the follo<span class=\"_ _7\"/>wing temporar<span class=\"_ _5\"/>y dif<span class=\"_ _7\"/>f<span class=\"_ _7\"/>erences: goodwill not deductible for tax purposes; the initial recognition of assets and liabilities that neither af<span class=\"_ _7\"/>f<span class=\"_ _7\"/>ect accounting nor taxable profit; and dif<span class=\"_ _7\"/>f<span class=\"_ _7\"/>erences relating to inv<span class=\"_ _7\"/>estments in subsidiaries to the extent that the<span class=\"_ _7\"/>y will not rev<span class=\"_ _7\"/>erse in the foreseeable fut<span class=\"_ _7\"/>ure. <span class=\"_ _8\"/>The calculation is based on tax rates enacted or subst<span class=\"_ _5\"/>antively enacted, at the end of the reporting period.   Def<span class=\"_ _7\"/>erred tax assets, including assets arising from losses carried for<span class=\"_ _5\"/>ward, are recogniz<span class=\"_ _7\"/>ed to the extent that it is probable that fut<span class=\"_ _7\"/>ure taxable profits will be available against whic<span class=\"_ _3\"/>h these temporar<span class=\"_ _5\"/>y dif<span class=\"_ _7\"/>f<span class=\"_ _7\"/>erences or unused tax losses can be utilized. Def<span class=\"_ _7\"/>erred tax assets and liabilities are stated at nominal value.   The Group recogniz<span class=\"_ _7\"/>es liabilities for potential tax audit issues based on estimates of whether additional taxes will be due. <span class=\"_ _3\"/>Where the final tax outcome of these mat<span class=\"_ _7\"/>ters dif<span class=\"_ _7\"/>f<span class=\"_ _7\"/>ers from the amounts that were initially recorded, suc<span class=\"_ _3\"/>h dif<span class=\"_ _7\"/>f<span class=\"_ _7\"/>erences will impact the current and def<span class=\"_ _7\"/>erred income tax assets and liabilities in the period in whic<span class=\"_ _7\"/>h suc<span class=\"_ _7\"/>h determination is made.  A provision is f<span class=\"_ _7\"/>ormed for tax, principally regarding withholding tax, for whic<span class=\"_ _3\"/>h a liabilit<span class=\"_ _5\"/>y might arise in connection with the distribution of retained earnings if a decision has been made to distribute suc<span class=\"_ _3\"/>h earnings.  Note 8.2 Def<span class=\"_ _3\"/>er<span class=\"_ _3\"/>red tax<span class=\"_ _7\"/>es   A<span class=\"_ _1e\"> </span><span class=\"ff3 fs9\">Accounting policies  </span>Def<span class=\"_ _7\"/>erred tax assets and liabilities are of<span class=\"_ _7\"/>fset against eac<span class=\"_ _7\"/>h other to the extent that this is a legally enforceable right and the def<span class=\"_ _3\"/>errals belong to the same fiscal unit. <span class=\"_ _9\"/>T<span class=\"_ _7\"/>he decision to account for def<span class=\"_ _3\"/>erred tax assets is t<span class=\"_ _5\"/>aken periodically f<span class=\"_ _7\"/>or eac<span class=\"_ _7\"/>h fiscal unit af<span class=\"_ _3\"/>ter critically assessing whether conditions are suf<span class=\"_ _7\"/>ficient to realize these def<span class=\"_ _3\"/>erred tax assets, based on the strategic plans and related tax plans.   BKe<span class=\"_ _7\"/>y accounting estimates and judgments Def<span class=\"_ _7\"/>erred tax assets, including those arising from carr<span class=\"_ _5\"/>y-f<span class=\"_ _7\"/>or<span class=\"_ _5\"/>ward losses, are recognized if it is probable that taxable profit is available against whic<span class=\"_ _3\"/>h losses can be of<span class=\"_ _7\"/>fset. In determining this, V<span class=\"_ _3\"/>opak uses estimates and assumptions that also af<span class=\"_ _7\"/>fect the measurement of the def<span class=\"_ _3\"/>erred tax assets. A mat<span class=\"_ _7\"/>urity schedule of the unrecogniz<span class=\"_ _7\"/>ed carry-for<span class=\"_ _5\"/>ward losses is sho<span class=\"_ _7\"/>wn on the next page.  Note 9.1 Ear<span class=\"_ _3\"/>nings per ordinary shar<span class=\"_ _3\"/>e - number of shares  Basic earnings per ordinary share are calculated by dividing the net profit at<span class=\"_ _3\"/>tribut<span class=\"_ _5\"/>able to holders of ordinar<span class=\"_ _5\"/>y shares by the time-w<span class=\"_ _7\"/>eighted av<span class=\"_ _7\"/>erage number of outstanding ordinar<span class=\"_ _5\"/>y shares (ex<span class=\"_ _7\"/>cluding the av<span class=\"_ _7\"/>erage number of treasur<span class=\"_ _5\"/>y shares). <span class=\"_ _9\"/>T<span class=\"_ _7\"/>he weighted av<span class=\"_ _7\"/>erage number of outstanding shares was 1<span class=\"_ _3\"/>25,395,678 in 2022 (2021: 125,41<span class=\"_ _9\"/>6,945).  In calculating the diluted earnings per ordinar<span class=\"_ _5\"/>y share, the weighted a<span class=\"_ _7\"/>verage number of outstanding shares is adjusted for the dilutive ef<span class=\"_ _3\"/>f<span class=\"_ _7\"/>ects of all dilutive potential ordinar<span class=\"_ _5\"/>y shares, suc<span class=\"_ _3\"/>h as share-based payment arrangements.  Note 9.2 Loans gr<span class=\"_ _3\"/>anted and finance lease r<span class=\"_ _7\"/>eceiv<span class=\"_ _7\"/>able  A<span class=\"_ _1e\"> </span><span class=\"ff3 fs9\">Accounting policies  </span>The Group classifies its loans granted and other debt in<span class=\"_ _7\"/>vestments at amortiz<span class=\"_ _7\"/>ed cost only if both of the follo<span class=\"_ _7\"/>wing criteria are met:  \u2022 <span class=\"_ _19f\"> </span>the asset is held within a business model with the objective of collecting the contract<span class=\"_ _7\"/>ual cash flows, and  \u2022 <span class=\"_ _19f\"> </span>the contractual terms giv<span class=\"_ _7\"/>e rise on specified dates to cash flows that are solely pa<span class=\"_ _7\"/>yments of principal and interest on the principal outstanding<span class=\"_ _5\"/>.  All loans granted and other debt inv<span class=\"_ _7\"/>estments meet these criteria and are measured at amortized cost.   At initial recognition, the Group measures loans granted at its fair v<span class=\"_ _7\"/>alue plus directly at<span class=\"_ _3\"/>tribut<span class=\"_ _5\"/>able transaction costs. Subsequently<span class=\"_ _3\"/>, these items are carried at amortiz<span class=\"_ _7\"/>ed cost using the ef<span class=\"_ _7\"/>f<span class=\"_ _7\"/>ective interest method.  Assets held under a finance lease are presented in the Statement of financial position as a receivable at an amount equal to the net in<span class=\"_ _7\"/>vestment in the lease. <span class=\"_ _8\"/>The income on the finance lease receivable is based on a pat<span class=\"_ _3\"/>tern reflecting a constant periodic rate of return on the lessor\u2019<span class=\"_ _3\"/>s net inv<span class=\"_ _7\"/>estment in the finance lease and is presented as Other income.  The e<span class=\"_ _7\"/>xpected credit losses associated with its loans granted and other issued debt instruments car<span class=\"_ _7\"/>ried at amortized cost are assessed b<span class=\"_ _7\"/>y the Group on a for<span class=\"_ _5\"/>ward looking basis. The impairment methodology applied depends on whether there has been a significant increase in credit risk.   A<span class=\"_ _1e\"> </span><span class=\"ff3 fs9\">Accounting policies  </span>Defined benefit plans  The Group\u2019<span class=\"_ _9\"/>s net pension obligation is calculated b<span class=\"_ _7\"/>y an independent actuary<span class=\"_ _3\"/>, using the projected unit credit method. <span class=\"_ _9\"/>T<span class=\"_ _7\"/>his calculation is performed separately f<span class=\"_ _7\"/>or eac<span class=\"_ _7\"/>h plan by estimating the amount of the benefit that employ<span class=\"_ _7\"/>ees hav<span class=\"_ _7\"/>e earned in relation to their past ser<span class=\"_ _5\"/>vices. <span class=\"_ _9\"/>T<span class=\"_ _7\"/>he liabilit<span class=\"_ _5\"/>y recogniz<span class=\"_ _7\"/>ed in the balance sheet is the present value of these benefits at the end of the reporting period (defined benefit obligation) less the fair v<span class=\"_ _7\"/>alue of plan assets. <span class=\"_ _9\"/>T<span class=\"_ _7\"/>he defined benefit obligation is determined by discounting the estimated fut<span class=\"_ _7\"/>ure cash flows using interest rates of high-quality corporate bonds with durations matc<span class=\"_ _3\"/>hing the expected terms of the benefits.   The increase in the defined benefit obligation due to the passage of time and the e<span class=\"_ _7\"/>xpected return on plan assets, using the same interest rate as f<span class=\"_ _7\"/>or the defined benefit obligation, are included in the pension costs.   P<span class=\"_ _7\"/>ast-ser<span class=\"_ _5\"/>vice costs are recognized immediately in the statement of income. A<span class=\"_ _7\"/>ctuarial gains and losses arising from experience adjustments and c<span class=\"_ _3\"/>hanges in actuarial assumptions are recognized in equity via Other comprehensive income in the period in whic<span class=\"_ _3\"/>h they arise.   When a plan is c<span class=\"_ _3\"/>hanged, settled or when a plan is curtailed, the resulting c<span class=\"_ _3\"/>hange in the defined benefit obligation that relates to past-ser<span class=\"_ _5\"/>vice or the gain or loss on curtailment is recognized immediately in the statement of income under P<span class=\"_ _3\"/>ersonnel expenses. <span class=\"_ _8\"/>The Group recognizes gains and losses on the set<span class=\"_ _3\"/>tlement of a defined benefit plan when the set<span class=\"_ _3\"/>tlement occurs.  Defined contr<span class=\"_ _7\"/>ibution plans  Contributions to defined contribution plans are recognized as an e<span class=\"_ _7\"/>xpense in the statement ofincome as incurred.   <span class=\"ff3 fsc\">Ke<span class=\"_ _7\"/>y accounting estimates and judgments  </span>The defined benefit obligation is determined on the basis of assumptions f<span class=\"_ _7\"/>or future de<span class=\"_ _7\"/>velopments in variables suc<span class=\"_ _3\"/>h as salar<span class=\"_ _5\"/>y increase, price index increase, lif<span class=\"_ _3\"/>e expectancy and discount rate. All assumptions are assessed at the reporting date. Changes in the assumptions may significantly af<span class=\"_ _7\"/>f<span class=\"_ _7\"/>ect the liabilities and pension costs under the defined benefit plans. <span class=\"_ _9\"/>The weighted a<span class=\"_ _7\"/>verage of these assumptions as well as sensitivities of k<span class=\"_ _7\"/>ey assumptions are disclosed in this note.  Note 9.5 Pr<span class=\"_ _3\"/>ovisions   A<span class=\"_ _1e\"> </span><span class=\"ff3 fs9\">Accounting policies  </span>Pro<span class=\"_ _7\"/>visions are recognized f<span class=\"_ _7\"/>or legal or constructiv<span class=\"_ _7\"/>e obligations that arose from past ev<span class=\"_ _7\"/>ents, the amount of whic<span class=\"_ _3\"/>h, though uncert<span class=\"_ _5\"/>ain, can be reliably estimated and where it is probable that the set<span class=\"_ _3\"/>tlement of the obligations will ent<span class=\"_ _5\"/>ail a cash outflow<span class=\"_ _9\"/>. Provisions are measured at the present value of the e<span class=\"_ _7\"/>xpenditures e<span class=\"_ _7\"/>xpected to be required to set<span class=\"_ _3\"/>tle the obligation using a pre-tax rate that reflects current market assessments of the time v<span class=\"_ _7\"/>alue of money and the risks specific to the obligation. <span class=\"_ _9\"/>T<span class=\"_ _7\"/>he increase in the provision due to the passage of time is recognized as interest e<span class=\"_ _7\"/>xpense.   In accordance with current legislation, en<span class=\"_ _7\"/>vironment<span class=\"_ _5\"/>al plans and other measures to be adopted are agreed with local, regional and national authorities as appropriate. A<span class=\"_ _7\"/>s soon as suc<span class=\"_ _3\"/>h plans are approved or other statutory obligations arise, a provision is formed based on the most reliable estimate possible of the future e<span class=\"_ _7\"/>xpenses.   A provision f<span class=\"_ _7\"/>or reorganization is recognized when <span class=\"_ _9\"/>V<span class=\"_ _3\"/>opak has approv<span class=\"_ _7\"/>ed a det<span class=\"_ _5\"/>ailed and formaliz<span class=\"_ _7\"/>ed reorganization plan and when the reorganization has either commenced or been announced.  A number of sites hav<span class=\"_ _7\"/>e to be restored to their original condition before being handed bac<span class=\"_ _3\"/>k at the end of the contractual period. If and when it is probable that a site will be decommissioned a provision is f<span class=\"_ _7\"/>ormed based on the most reliable estimate possible of future e<span class=\"_ _7\"/>xpenses.  Pro<span class=\"_ _7\"/>visions for other def<span class=\"_ _3\"/>erred long-term employ<span class=\"_ _7\"/>ee benefits, other than pensions and other employ<span class=\"_ _7\"/>ee benefits, for e<span class=\"_ _7\"/>xample, redundancy benefits, anniversary incentives and long-term remuneration set<span class=\"_ _3\"/>tled in cash, are calculated using the method for defined benefit plans. An<span class=\"_ _7\"/>y actuarial results arising are recogniz<span class=\"_ _7\"/>ed immediately in the statement of income. <span class=\"_ _9\"/>The same applies to any c<span class=\"_ _3\"/>hanges relating to past ser<span class=\"_ _5\"/>vice.  Ke<span class=\"_ _7\"/>y accounting estimates and judgments  The amount recogniz<span class=\"_ _7\"/>ed as a provision is management\u2019<span class=\"_ _9\"/>s best estimate of the amount required to set<span class=\"_ _7\"/>tle the obligation. <span class=\"_ _9\"/>The outcome depends on fut<span class=\"_ _7\"/>ure ev<span class=\"_ _7\"/>ents that are uncertain by nature. In assessing the likely outcome of la<span class=\"_ _7\"/>wsuits and tax disputes, management also bases its assessment on external legal assistance and established precedents.    The Group is e<span class=\"_ _7\"/>xposed to risks regarding environmental obligations arising from past activities. For example, a number of sites ha<span class=\"_ _7\"/>ve to be decontaminated before being handed bac<span class=\"_ _3\"/>k at the end of the contractual period. Under cur<span class=\"_ _7\"/>rent legislation, environmental plans and any other measures to be adopted hav<span class=\"_ _7\"/>e to be agreed with local, regional and national authorities as appropriate. As soon as suc<span class=\"_ _7\"/>h plans hav<span class=\"_ _7\"/>e been approv<span class=\"_ _7\"/>ed or other legal obligations arose, a provision is formed based on the most reliable estimate of possible future e<span class=\"_ _7\"/>xpenses. Given the degree of comple<span class=\"_ _7\"/>xit<span class=\"_ _5\"/>y and uncertaint<span class=\"_ _5\"/>y in making suc<span class=\"_ _3\"/>h estimates, this does not guarantee that no additional costs will arise in the future.  Envir<span class=\"_ _3\"/>onmental provisions  V<span class=\"_ _3\"/>opak is obliged to clean up soil contamination at diff<span class=\"_ _3\"/>erent locations. In general, an accurate and reliable estimate of the provision f<span class=\"_ _7\"/>or this environmental risk can only be made af<span class=\"_ _3\"/>ter conducting a thorough sur<span class=\"_ _5\"/>ve<span class=\"_ _7\"/>y and drawing up a management plan f<span class=\"_ _7\"/>or the site, on the basis of whic<span class=\"_ _3\"/>h the governmental authorities issue an order<span class=\"_ _3\"/>. <span class=\"_ _9\"/>T<span class=\"_ _7\"/>he expected timing of the fut<span class=\"_ _7\"/>ure cash outflows is reflected in the e<span class=\"_ _7\"/>xpected withdraw<span class=\"_ _7\"/>als, how<span class=\"_ _7\"/>ev<span class=\"_ _7\"/>er the timing of when the soil remediation will occur remains uncertain.   The en<span class=\"_ _7\"/>vironmental provisions primarily relate to historical contaminations. Financial exposures to potential new soil contaminations in relation to products spills are very limited. If a spill or<span class=\"_ _5\"/> any un<span class=\"_ _7\"/>wanted disc<span class=\"_ _3\"/>harge takes place, emergency mitigation procedures are in place at all the terminals whic<span class=\"_ _3\"/>h cont<span class=\"_ _5\"/>ain and remediate the spill immediately<span class=\"_ _3\"/>, according to the <span class=\"_ _3\"/>V<span class=\"_ _3\"/>opak standards.<span class=\"_ _5\"/> <span class=\"_ _2\"/> <span class=\"_ _2\"/> At year<span class=\"_ _9\"/>-end 2022, the total provision f<span class=\"_ _7\"/>or environmental liabilities amounted to EUR 25.5 million (2021: EUR 1<span class=\"_ _3\"/>7<span class=\"_ _d\"/>.1 million). <span class=\"_ _9\"/>T<span class=\"_ _7\"/>he provision is mainly related to en<span class=\"_ _7\"/>vironment<span class=\"_ _5\"/>al liabilities at various terminals in the divisions Europe &amp; <span class=\"_ _7\"/>Africa and Americas. During 2022, additions for an amount of EUR 1<span class=\"_ _8\"/>1<span class=\"_ _8\"/>.5 million (2021: EUR 5.0 million) million have been recorded.   Note 9.6 In<span class=\"_ _3\"/>vestments and other financial assets  The group has in<span class=\"_ _7\"/>vestments in the equity of other entities whic<span class=\"_ _3\"/>h do not classify as either a subsidiar<span class=\"_ _5\"/>y<span class=\"_ _3\"/>, joint vent<span class=\"_ _3\"/>ure or associate. <span class=\"_ _9\"/>These in<span class=\"_ _7\"/>vestments primarily concern the inv<span class=\"_ _7\"/>estments in Sabtank in Saudi Arabia, <span class=\"_ _9\"/>V<span class=\"_ _3\"/>opak <span class=\"_ _9\"/>T<span class=\"_ _9\"/>erminal <span class=\"_ _9\"/>V<span class=\"_ _3\"/>enezuela and the investments held b<span class=\"_ _7\"/>y <span class=\"_ _3\"/>V<span class=\"_ _3\"/>opak V<span class=\"_ _3\"/>entures B<span class=\"_ _3\"/>.V<span class=\"_ _9\"/>. <span class=\"_ _8\"/>These inv<span class=\"_ _7\"/>estments in unlisted entities are not held for trading and are considered to be strategic inv<span class=\"_ _7\"/>estments.  A<span class=\"_ _1e\"> </span><span class=\"ff3 fs9\">Accounting policies  </span>The group mak<span class=\"_ _7\"/>es an irrev<span class=\"_ _3\"/>ocable election on an investment-b<span class=\"_ _7\"/>y-in<span class=\"_ _7\"/>vestment basis at the time of initial recognition to measure these inv<span class=\"_ _7\"/>estments either as:  \u2022 <span class=\"_ _19f\"> </span><span class=\"fc1\">Fair v<span class=\"_ _7\"/>alue through profit and loss (FVPL); or  </span>\u2022 <span class=\"_ _19f\"> </span><span class=\"fc1\">Fair v<span class=\"_ _7\"/>alue through Other comprehensive income (FV<span class=\"_ _3\"/>OCI).  </span>Inv<span class=\"_ _7\"/>estments and other financial assets are measured at fair v<span class=\"_ _7\"/>alue (lev<span class=\"_ _7\"/>el 3). At initial recognition, the Group measures a financial asset at its fair v<span class=\"_ _7\"/>alue. <span class=\"_ _9\"/>T<span class=\"_ _8\"/>ransaction costs of financial assets measured at FVPL are expensed in profit or loss, while these are recogniz<span class=\"_ _7\"/>ed in Other comprehensive income f<span class=\"_ _7\"/>or financial assets measured at FV<span class=\"_ _3\"/>OCI.  The Group subsequently measures all equity inv<span class=\"_ _7\"/>estments at fair v<span class=\"_ _7\"/>alue. <span class=\"_ _3\"/>Where the group\u2019<span class=\"_ _9\"/>s management has elected to present fair v<span class=\"_ _7\"/>alue gains and losses on equity investments in OCI, there is no subsequent reclassification of fair v<span class=\"_ _7\"/>alue gains and losses to profit or loss follo<span class=\"_ _7\"/>wing the derecognition of the inv<span class=\"_ _7\"/>estment. Dividends from suc<span class=\"_ _7\"/>h inv<span class=\"_ _7\"/>estments continue to be recognized in profit or loss as dividend income as part of the Other operating income. Ref<span class=\"_ _3\"/>erence is also made to note 2.4.  At year<span class=\"_ _9\"/>-end 2022, all equity inv<span class=\"_ _7\"/>estments are classified as FV<span class=\"_ _3\"/>OCI.  The total fair v<span class=\"_ _7\"/>alue of the inv<span class=\"_ _7\"/>estments amounted to EUR 94.0 million (2021: EUR 83.6 million) at year<span class=\"_ _9\"/>-end 2022. <span class=\"_ _8\"/>The total dividend income in 2022 from these inv<span class=\"_ _7\"/>estments amounted to EUR 3.0 million (2021: EUR 0.5 million).  Guarant<span class=\"_ _7\"/>ees and secur<span class=\"_ _7\"/>ities included in ratio calculations  The notional amount of guarantees and securities pro<span class=\"_ _7\"/>vided on behalf of participating interests in joint vent<span class=\"_ _7\"/>ures and associates, whic<span class=\"_ _3\"/>h is also included in ratios, increased from EUR 85.8 million at 31 December 2021 to EUR 89.4 million at 31 December 2022. In both years there w<span class=\"_ _7\"/>ere no amounts recognized in the statement of financial position. Ref<span class=\"_ _3\"/>erence is also made to note 5.5.  Other contingencies  Envir<span class=\"_ _7\"/>onmental and mak<span class=\"_ _7\"/>e good oblig<span class=\"_ _7\"/>ations  The Group is e<span class=\"_ _7\"/>xposed to risks regarding environmental and make good obligations arising from past activities. F<span class=\"_ _7\"/>or example, a number of sites ha<span class=\"_ _7\"/>ve to be decontaminated and restored to their original condition before being handed bac<span class=\"_ _3\"/>k at the end of the contractual period. Under current legislation, en<span class=\"_ _7\"/>vironment<span class=\"_ _5\"/>al plans and any other measures to be adopted ha<span class=\"_ _3\"/>ve to be agreed with local, regional and national authorities as appropriate. A<span class=\"_ _7\"/>s soon as suc<span class=\"_ _3\"/>h plans are approv<span class=\"_ _7\"/>ed or other legal obligations arise, a provision is f<span class=\"_ _7\"/>ormed based on the most reliable estimate possible of future e<span class=\"_ _7\"/>xpenses. <span class=\"_ _8\"/>The Executiv<span class=\"_ _7\"/>e Board is of the opinion that the currently recogniz<span class=\"_ _7\"/>ed provisions are adequate, based on information cur<span class=\"_ _7\"/>rently av<span class=\"_ _7\"/>ailable. How<span class=\"_ _7\"/>ev<span class=\"_ _7\"/>er<span class=\"_ _3\"/>, given the degree of dif<span class=\"_ _3\"/>ficult<span class=\"_ _5\"/>y in making estimates, this does not guarantee that no additional costs will arise going for<span class=\"_ _5\"/>ward.  Deter<span class=\"_ _3\"/>mination of f<span class=\"_ _7\"/>air v<span class=\"_ _7\"/>alue for financial instr<span class=\"_ _3\"/>uments  A number of the Group\u2019<span class=\"_ _9\"/>s accounting policies and disclosures require the determination of fair v<span class=\"_ _7\"/>alue for the financial instr<span class=\"_ _7\"/>uments. A f<span class=\"_ _7\"/>air value measurement is an estimate of the price that would be receiv<span class=\"_ _7\"/>ed upon the sale of an asset or paid to transf<span class=\"_ _7\"/>er a liability in an orderly transaction between market participants at the measurement date. <span class=\"_ _9\"/>Where av<span class=\"_ _7\"/>ailable, fair value measurements are deriv<span class=\"_ _7\"/>ed from quoted prices (unadjusted) in active mark<span class=\"_ _7\"/>ets for identical assets or liabilities (lev<span class=\"_ _7\"/>el 1). In the absence of suc<span class=\"_ _3\"/>h information, other obser<span class=\"_ _5\"/>vable inputs, either directly (i.e. as prices) or indirectly (i.e. derived from prices), are used to estimate fair v<span class=\"_ _7\"/>alues (lev<span class=\"_ _7\"/>el 2). No material financial instruments w<span class=\"_ _7\"/>ere measured at fair v<span class=\"_ _7\"/>alue using lev<span class=\"_ _7\"/>el 3 (inputs not based on obser<span class=\"_ _5\"/>vable mark<span class=\"_ _7\"/>et data). Inputs derived from external sources are corroborated or other<span class=\"_ _5\"/>wise verified, as appropriate.   The f<span class=\"_ _7\"/>air values of the P<span class=\"_ _7\"/>rivate Placements, re<span class=\"_ _7\"/>volving credit f<span class=\"_ _7\"/>acilit<span class=\"_ _5\"/>y and other long-term bank loans are measured by discounting the fut<span class=\"_ _7\"/>ure cash flows using observable market interest information (le<span class=\"_ _7\"/>vel 2) as no similar instr<span class=\"_ _7\"/>ument is av<span class=\"_ _7\"/>ailable due to the specific profiles of the instruments. <span class=\"_ _8\"/>The calculations include credit spreads based on the most recent borro<span class=\"_ _7\"/>wing contracts.   The f<span class=\"_ _7\"/>air values of interest rate sw<span class=\"_ _7\"/>aps, cross-currency interest rate swaps and f<span class=\"_ _7\"/>or<span class=\"_ _5\"/>ward foreign ex<span class=\"_ _7\"/>c<span class=\"_ _3\"/>hange contracts are determined by discounting the future cash flo<span class=\"_ _7\"/>ws using the applicable period-end obser<span class=\"_ _5\"/>vable yield curve, taking into account credit risk and the risk of non-performance.   In view of the short-term nat<span class=\"_ _7\"/>ure or the magnitude of the amounts, the Group considers that the fair v<span class=\"_ _7\"/>alue of loans granted, trade and other receivables, cash and cash equiv<span class=\"_ _7\"/>alents, bank ov<span class=\"_ _7\"/>erdraf<span class=\"_ _3\"/>ts, credit facilities, other long-term loans and trade creditors are not materially dif<span class=\"_ _7\"/>f<span class=\"_ _7\"/>erent from their carr<span class=\"_ _5\"/>ying value.  The f<span class=\"_ _7\"/>air value of the Other equity inv<span class=\"_ _7\"/>estments (lev<span class=\"_ _7\"/>el 3) are based on discounted cash flow projections based on reliable estimates of future cash flo<span class=\"_ _7\"/>ws or recent transactions.  The initial measurement at the trade date of all financial instr<span class=\"_ _7\"/>uments is the fair v<span class=\"_ _7\"/>alue. Except for deriv<span class=\"_ _7\"/>atives, the initial measurement of financial instr<span class=\"_ _7\"/>uments is adjusted for directly at<span class=\"_ _3\"/>tribut<span class=\"_ _5\"/>able transaction costs.   P<span class=\"_ _7\"/>rofit Appropriation Articles of <span class=\"_ _8\"/>Association Pro<span class=\"_ _7\"/>visions Gov<span class=\"_ _7\"/>er<span class=\"_ _7\"/>ning Profit <span class=\"_ _8\"/>Appropr<span class=\"_ _3\"/>iation  The <span class=\"_ _7\"/>Articles of A<span class=\"_ _7\"/>ssociation provisions go<span class=\"_ _7\"/>verning profit appropriation are contained in Articles 9 and 27<span class=\"_ _d\"/>.  The rele<span class=\"_ _7\"/>vant paragraphs of these articles are as f<span class=\"_ _7\"/>ollows:  Article 1<span class=\"_ _7\"/>9.2.<span class=\"_ _7\"/>  In the Annual General Meeting of Shareholders:   b. the annual accounts as prepared by the management board will be presented to the general meeting for adoption and the allocation of profits will \u2013 with due observance of the provisions of article 27 \u2013 be determined.  Article 27<span class=\"_ _d\"/>.12.<span class=\"_ _7\"/>  The profits remaining af<span class=\"_ _3\"/>ter application of the previous paragraphs shall be at the free disposal of the general meeting, with due obser<span class=\"_ _5\"/>vance of the fact that no dividend can be distributed when, at the time of the distribution, the dividend reser<span class=\"_ _5\"/>ve finance pref<span class=\"_ _3\"/>erence shares has a positive balance and furthermore pro<span class=\"_ _7\"/>vided that no further distributions shall be made on the anti-takeov<span class=\"_ _7\"/>er pref<span class=\"_ _7\"/>erence shares and the finance pref<span class=\"_ _7\"/>erence shares and no profits shall be (further) reser<span class=\"_ _5\"/>ved f<span class=\"_ _7\"/>or the account of the finance pref<span class=\"_ _7\"/>erence shares.  ",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfSummaryOfSignificantAccountingPoliciesExplanatory",
    "language": "en",
    "entity": "scheme:724500UL634GFV1KYF10",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
   }
  },
  "pp-value-11-2": {
   "value": "Changes in accounting policies for 2022 The applied accounting principles adopted in the preparation of the Consolidated financial statements are consistent with those described in Vopak\u2019s 2021 Annual Report.   Note 9.10 New standards and interpretations not yet implemented  There are no new accounting standards, amendments to existing standards or new IFRIC interpretations published that are not yet effective that are expected to have a material impact on the Group in future reporting periods and on foreseeable future transactions, including:     - IFRS 17 Insurance Contracts and amendments to IFRS 17 Insurance Contracts   - Disclosure of Accounting Policies (Amendments to IAS 1 and IFRS Practice Statement 2)   - Definition of Accounting Estimates (Amendments to IAS 8)  ",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfChangesInAccountingPoliciesAccountingEstimatesAndErrorsExplanatory",
    "language": "en",
    "entity": "scheme:724500UL634GFV1KYF10",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
   }
  },
  "pp-value-11-3": {
   "value": "Changes in accounting policies for 2022 The applied accounting principles adopted in the preparation of the Consolidated financial statements are consistent with those described in Vopak\u2019s 2021 Annual Report.   ",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfChangesInAccountingPoliciesExplanatory",
    "language": "en",
    "entity": "scheme:724500UL634GFV1KYF10",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
   }
  },
  "pp-value-12-2": {
   "value": "Going concern The Executive Board has assessed the going-concern assumptions, during the preparation   of the Group\u2019s Consolidated financial statements. The Executive Board believes that no   events or conditions, including those related to the ongoing COVID-19 pandemic and the Russia-Ukraine war, give rise to doubt about the ability of the Group to continue in operation   in the next reporting period. This conclusion is drawn based on knowledge of the Group,   the estimated economic outlook and identified risks and uncertainties in relation thereto.    Furthermore, this conclusion is based on a review of the budget for the next financial year, including expected developments in liquidity and capital, current credit facilities available including contractual and expected maturities and covenants. Consequently, it has been concluded that it is reasonable to apply the going-concern concept as the underlying assumption for the financial statements.   For further details on the impact of the macro-economic and geopolitical uncertainty on the Vopak Group, reference is made to note 9.3. ",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfGoingConcernExplanatory",
    "language": "en",
    "entity": "scheme:724500UL634GFV1KYF10",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
   }
  },
  "pp-value-13-2": {
   "value": "Basis of consolidation Subsidiaries are entities controlled by the Group. Vopak controls an entity when it is exposed to, or has rights to, variable returns from its involvement with the entity and has the ability to affect those returns through its power over the entity. The financial statements of subsidiaries are included in the Consolidated financial statements from the date on which control commences until the date on which control ceases, using consistent accounting policies. Non-controlling interests in equity and in results are presented separately. Transactions with non-controlling interests that do not result in loss of control are accounted for as transactions with shareholders. For purchases of non-controlling interests, the difference between any consideration paid and the relevant share acquired of the carrying value of the net asset of the subsidiary is recorded directly in equity. Gains or losses on disposals of non-controlling interests are also recorded directly in equity.  Upon initial recognition, a non-controlling interest is measured either at its proportionate interest in the fair value of the net assets acquired or full fair value, which is elected on a transaction-by-transaction basis. The Group\u2019s interests in equity-accounted investees comprise interests in joint ventures and associates. Joint venture is an arrangement in which the Group has joint control, whereby the Group has rights to the net assets of the arrangement, rather than rights to its assets and obligations for its liabilities. Associates are entities in which the Group has significant influence, but no control or joint control, over the financial and operating policies. Upon loss of control, the Group derecognizes the assets and liabilities of the subsidiary, any non-controlling interests and the other components of equity related to the subsidiary. Any surplus or deficit arising on the loss of control is recognized in profit or loss. When the Group ceases to consolidate or equity account for an investment because of a loss of control, joint control or significant influence, any retained interest in the entity is remeasured to its fair value with the change in carrying amount recognized in profit or loss. This fair value becomes the initial carrying amount for the purpose of subsequently accounting for the retained interest as an associate, joint venture or financial asset. In addition, any amounts previously recognized in other comprehensive income are reclassified to the income statement. If the ownership interest in a joint venture or an associate is reduced but joint control or significant influence is retained, only a proportionate share of the amounts previously recognized in other comprehensive income is reclassified to profit or loss where appropriate. Transactions eliminated on consolidation: all inter-company balances and transactions, including unrealized gains and losses on transactions, are eliminated on consolidation. Unrealized gains arising from transactions with joint ventures and associates are eliminated to the extent of the Group\u2019s interest in the equity. Unrealized losses are eliminated in the same manner as unrealized gains, but only to the extent that there is no evidence of impairment. For a list of the principal subsidiaries, joint ventures, associates and investments, reference is made to note 9.11. ",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfBasisOfConsolidationExplanatory",
    "language": "en",
    "entity": "scheme:724500UL634GFV1KYF10",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
   }
  },
  "pp-value-13-4": {
   "value": "Basis of consolidation Subsidiaries are entities controlled by the Group. Vopak controls an entity when it is exposed to, or has rights to, variable returns from its involvement with the entity and has the ability to affect those returns through its power over the entity. The financial statements of subsidiaries are included in the Consolidated financial statements from the date on which control commences until the date on which control ceases, using consistent accounting policies. ",
   "dimensions": {
    "concept": "ifrs-full:DescriptionOfAccountingPolicyForSubsidiariesExplanatory",
    "language": "en",
    "entity": "scheme:724500UL634GFV1KYF10",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
   }
  },
  "pp-value-14-4": {
   "value": "Non-controlling interests in equity and in results are presented separately. Transactions with non-controlling interests that do not result in loss of control are accounted for as transactions with shareholders. For purchases of non-controlling interests, the difference between any consideration paid and the relevant share acquired of the carrying value of the net asset of the subsidiary is recorded directly in equity. Gains or losses on disposals of non-controlling interests are also recorded directly in equity.  Upon initial recognition, a non-controlling interest is measured either at its proportionate interest in the fair value of the net assets acquired or full fair value, which is elected on a transaction-by-transaction basis. ",
   "dimensions": {
    "concept": "ifrs-full:DescriptionOfAccountingPolicyForTransactionsWithNoncontrollingInterestsExplanatory",
    "language": "en",
    "entity": "scheme:724500UL634GFV1KYF10",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
   }
  },
  "pp-value-15-4": {
   "value": "The Group\u2019s interests in equity-accounted investees comprise interests in joint ventures and associates. Joint venture is an arrangement in which the Group has joint control, whereby the Group has rights to the net assets of the arrangement, rather than rights to its assets and obligations for its liabilities. Associates are entities in which the Group has significant influence, but no control or joint control, over the financial and operating policies. Note 2.7 Result of joint ventures and associates A Accounting policies Joint ventures and associates are accounted for using the equity method. For the accounting policies relating to joint ventures and associates, reference is made to note 3.5. A Accounting policies Joint ventures and associates are accounted for using the equity method, which involves recognition in the Consolidated statement of income of Vopak\u2019s share of the net result of the joint ventures and associates for the year. Accounting policies of joint ventures and associates have been aligned where necessary to ensure consistency with the policies adopted by the Group. Vopak\u2019s interest in a joint venture or associate is carried in the statement of financial position at its share in the net assets of the joint venture or associate together with goodwill paid on acquisition, less any impairment loss. When the share in the losses exceeds the carrying amount of an equity-accounted company (including any other receivables forming part of the net investment in the company), the carrying amount is written down to nil and recognition of further losses is discontinued, unless we have incurred legal or constructive obligations relating to the company in question. ",
   "dimensions": {
    "concept": "ifrs-full:DescriptionOfAccountingPolicyForInvestmentInAssociatesAndJointVenturesExplanatory",
    "language": "en",
    "entity": "scheme:724500UL634GFV1KYF10",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
   }
  },
  "pp-value-15-5": {
   "value": "The Group\u2019s interests in equity-accounted investees comprise interests in joint ventures and associates. Joint venture is an arrangement in which the Group has joint control, whereby the Group has rights to the net assets of the arrangement, rather than rights to its assets and obligations for its liabilities. A Accounting policies Joint ventures and associates are accounted for using the equity method, which involves recognition in the Consolidated statement of income of Vopak\u2019s share of the net result of the joint ventures and associates for the year. Accounting policies of joint ventures and associates have been aligned where necessary to ensure consistency with the policies adopted by the Group. Vopak\u2019s interest in a joint venture or associate is carried in the statement of financial position at its share in the net assets of the joint venture or associate together with goodwill paid on acquisition, less any impairment loss. When the share in the losses exceeds the carrying amount of an equity-accounted company (including any other receivables forming part of the net investment in the company), the carrying amount is written down to nil and recognition of further losses is discontinued, unless we have incurred legal or constructive obligations relating to the company in question. ",
   "dimensions": {
    "concept": "ifrs-full:DescriptionOfAccountingPolicyForInvestmentsInJointVentures",
    "language": "en",
    "entity": "scheme:724500UL634GFV1KYF10",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
   }
  },
  "pp-value-16-5": {
   "value": "Associates are entities in which the Group has significant influence, but no control or joint control, over the financial and operating policies. A Accounting policies Joint ventures and associates are accounted for using the equity method, which involves recognition in the Consolidated statement of income of Vopak\u2019s share of the net result of the joint ventures and associates for the year. Accounting policies of joint ventures and associates have been aligned where necessary to ensure consistency with the policies adopted by the Group. Vopak\u2019s interest in a joint venture or associate is carried in the statement of financial position at its share in the net assets of the joint venture or associate together with goodwill paid on acquisition, less any impairment loss. When the share in the losses exceeds the carrying amount of an equity-accounted company (including any other receivables forming part of the net investment in the company), the carrying amount is written down to nil and recognition of further losses is discontinued, unless we have incurred legal or constructive obligations relating to the company in question. ",
   "dimensions": {
    "concept": "ifrs-full:DescriptionOfAccountingPolicyForInvestmentInAssociates",
    "language": "en",
    "entity": "scheme:724500UL634GFV1KYF10",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
   }
  },
  "pp-value-18-3": {
   "value": "Foreign currency translation Items included in the financial statements of each of the Group\u2019s entities are measured using the currency of the primary economic environment in which the entity operates (\u2018the functional currency\u2019). Foreign currency transactions are translated into the functional currency using the exchange rate at the dates of the transactions, or valuation date where items are remeasured. Foreign exchange gains and losses resulting from the settlement of such transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognized in the statement of income, except when deferred in other comprehensive income as qualifying cash flow hedges or net investment hedges. Upon consolidation, the assets and liabilities of non-Euro entities, including goodwill and fair value adjustments at the time of the acquisition, are translated into euros at the year-end rates of exchange (closing exchange rates). The items of the statement of income of foreign activities are translated at the average exchange rates for the reporting period.    The resulting translation differences of the net investments in foreign operations are recognized as foreign currency translation reserve movements (translation reserve) in other comprehensive income. The same applies to exchange differences arising from loans drawn and other financial instruments to the extent that these hedge the currency risk related to the net investment.  Upon disposal of all or part of an interest in an entity, or upon liquidation of an entity, cumulative currency translation differences related to that entity are recognized in the income statement. When the Group disposes of only part of its interest in a subsidiary with a foreign operation, while retaining control, the relevant portion of the cumulative amount is not transferred to profit or loss but reattributed to non-controlling interests. Upon disposal of a foreign activity with a non-controlling interest, the cumulative amount relating to the non-controlling interests shall be derecognized, but shall not be reclassified to profit or loss. A share capital or share premium distribution by an entity is not considered to be a partial disposal when the Group retains its relative legal share in the entity. ",
   "dimensions": {
    "concept": "ifrs-full:DescriptionOfAccountingPolicyForForeignCurrencyTranslationExplanatory",
    "language": "en",
    "entity": "scheme:724500UL634GFV1KYF10",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
   }
  },
  "pp-value-19-2": {
   "value": "The following main exchange rates are used in the financial statements: Closing exchange rate  Average exchange rate EUR 1.00 is equivalent to  2022  2021  2022  2021US dollar  1.07  1.13  1.05  1.18 Singapore dollar  1.43  1.53  1.45  1.59 Chinese yuan  7.42  7.22  7.08  7.63 Australian dollar  1.57  1.56  1.52  1.57 Brazilian real  5.63  6.31  5.44  6.38 Note 2.8 Translation and operational currency risk The Group is exposed to a low level of currency risk on the transaction level, since operating income and operating expenses are, as a rule, largely denominated in the same currency. However, in some countries (in particular, in Latin America and Asia), a substantial portion of the income flow is in US dollars, whereas the operating expenses are largely denominated in local currencies. In these countries, the aim is to hedge the transaction risk naturally. Any material net transaction position can be hedged in full by means of forward exchange contracts or other derivatives. The Group is, however, exposed to risk in connection with the translation of income statements and net assets of foreign entities into euros, since a significant portion of the Group\u2019s results is generated in foreign entities.  Sensitivity to exchange rates arising from the translation of the results of foreign currency operations The translation risk of converting the net result of foreign entities into euros mainly concerns the Singapore dollar and the US dollar. The sensitivity to these currencies, based on a reasonable change in the exchange rate at the reporting date, is as follows: A 10 dollar cent change in the EUR/USD exchange rate approximately affects Vopak\u2019s figures as follows (based on figures for 2022, excluding exceptional items): \u2022  Revenues would differ by EUR 30.9 million (2021: EUR 22.2 million) \u2022  Group operating profit before depreciation and amortization (EBITDA) would differ by EUR 24.0 million (2021: EUR 20.6 million) \u2022  Group operating profit (EBIT) would differ by EUR 18.2 million (2021: EUR 16.1 million) \u2022  Net profit would differ by EUR 13.7 million (2021: EUR 13.4 million). A 10 dollar cent change in the EUR/SGD exchange rate approximately affects Vopak\u2019s figures as follows (based on figures for 2022 excluding exceptional items): \u2022  Revenues would differ by EUR 17.5 million (2021: EUR 13.8 million) \u2022  Group operating profit before depreciation and amortization (EBITDA) would differ by EUR 12.7 million (2021: EUR 10.9 million) \u2022   Group operating profit (EBIT) would differ by EUR 8.8 million (2021: EUR 7.8 million) \u2022  Net profit would differ by EUR 4.8 million (2021: EUR 4.5 million). ",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfEffectOfChangesInForeignExchangeRatesExplanatory",
    "language": "en",
    "entity": "scheme:724500UL634GFV1KYF10",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
   }
  },
  "pp-value-20-3": {
   "value": "Accounting policies, not attributable to a specific section The Group\u2019s significant accounting policies are described in the relevant individual notes to the Consolidated financial statements or otherwise stated below. A list of the notes is shown in the table of contents preceding the financial statements. ",
   "dimensions": {
    "concept": "ifrs-full:DescriptionOfOtherAccountingPoliciesRelevantToUnderstandingOfFinancialStatements",
    "language": "en",
    "entity": "scheme:724500UL634GFV1KYF10",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
   }
  },
  "pp-value-21-3": {
   "value": "Offsetting of financial instruments Financial assets and liabilities are offset and the net amount is reported in the balance sheet only when there is a legally enforceable right to offset the recognized amounts and there is an intention to settle on a net basis or realize the asset and settle the liability simultaneously. ",
   "dimensions": {
    "concept": "ifrs-full:DescriptionOfAccountingPolicyForOffsettingOfFinancialInstrumentsExplanatory",
    "language": "en",
    "entity": "scheme:724500UL634GFV1KYF10",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
   }
  },
  "pp-value-22-3": {
   "value": "Cash flow statement The cash flow statement is prepared based on the indirect method. Cash flows denominated in foreign currencies are translated at average exchange rates. Exchange and translation gains and losses on cash and cash equivalents (including current liabilities arising from short-term credit facilities) are presented separately. The Consolidated statement of cash flows shows the Group\u2019s cash flows from operating, investing and financing activities for the year. ",
   "dimensions": {
    "concept": "ifrs-full:DescriptionOfAccountingPolicyForCashFlowsExplanatory",
    "language": "en",
    "entity": "scheme:724500UL634GFV1KYF10",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
   }
  },
  "pp-value-23-2": {
   "value": "Use of key accounting estimates and judgments Preparing the Consolidated financial statements means that the Group must use insights, estimates and assumptions that could affect the reported assets and liabilities and the information provided on contingent assets and liabilities as at the statement of financial position date as well as the reported income and expenses. The actual results may ultimately differ from these estimates. The estimates and the underlying assumptions are reviewed on a regular basis. Adjustments are made in the period in which the estimates were reviewed if the adjustment affects that period, or in the relevant period and the future periods if the adjustment affects both current and future periods.   Management insights, estimates and assumptions that could have a significant impact on the financial statements are: \u2022  The term of land lease contracts (note 3.4) \u2022  Assets held for sale (note 3.6) \u2022  Useful life and residual value of property, plant and equipment (note 3.7) \u2022  Impairment analysis (note 3.8) \u2022  Derivative financial instruments (note 6.2) \u2022  Deferred tax assets (note 8.2) \u2022  Provisions (note 9.5). Although both the COVID-19 pandemic and Russia-Ukraine war has a limited impact on the Vopak Group, a comprehensive overview of the impact is included in note 9.3. Climate risk Vopak\u2019s business model of \u2018storing vital products with care\u2019 means that the Group connects supply and demand for products and enables the delivery of products that are vital to the economy and daily lives of people across the globe. Supply and demand and subsequent imbalances remain a key driver behind storage and it is not foreseen that these imbalances will be resolved in the near future, although demand for some of the products may change as a result of substitution for cleaner products. Nevertheless, as a large part of our current business relates to fossil-based products,  climate change and the transition to a lower carbon economy were considered in preparing the Consolidated financial statements.   The Group reviewed key accounting estimates in the financial statements, including among others useful lives of fixed assets (note 3.7), impairment considerations (note 3.8) and/or environmental provisions (note 9.5). There is significant uncertainty surrounding the ways in which society and the world economy will change over the next 30 years and the extent to which such changes will meet the aspirations of the Paris Agreement. The pace and severity of climate change, as well as accompanying government policy and the energy transition, impact the estimates. Therefore these remain subject to constant review and monitoring.   For our 2022 Financial Statements, the Group does not see any evidence that Vopak\u2019s balance sheet materially overstated assets or materially understated liabilities.  Key accounting estimates and judgments Determining the term of a lease contract  Extension and termination options are included in most lease contracts held by the Group. These options are used to maximize operational flexibility in terms of managing the assets used in the Group\u2019s operations. The majority of extension and termination options held are exercisable only by the Group and not by the respective lessor. This is explicitly the case for the land lease contracts. In determining the lease term, management considers all facts and circumstances that create an economic incentive to exercise an extension option, or to not exercise a termination option. Extension options (or periods after termination options) are only included in the lease term if the lease is reasonably certain to be extended (or not terminated).   For leases of land, sea and jetties the following factors are normally the most relevant: \u2022  Remaining useful lives of the tank terminal assets which depend on the lease term of   the lease contract \u2022  Remaining duration of long-term customer contracts \u2022  The amount of the penalties to terminate (or not extend) \u2022  Other factors, including historical lease durations and the costs and business disruption that is expected to be incurred to replace the leased asset.  For most of the land lease contracts it was assessed by management that it was reasonably certain that the extension options will be exercised. The lease term is reassessed if an option is actually exercised (or not exercised) or the group becomes obliged to exercise (or not exercise) it. The assessment of reasonable certainty is only revised if a significant event or a significant change in circumstances occurs, which affects this assessment, and that is within the control of the lessee.   No other material estimates and judgments are applied by the Group with regards to leases. BKey accounting estimates and judgments At the end of the reporting period, management has to assess if the value of the assets will be recovered principally through a divestment transaction rather than through continued use and what the likelihood is that an asset will be divested within a year. This assessment is based on the facts and circumstances at that date. These facts and circumstances may change and could result in a situation where assets are divested, which were not classified as held for sale at year-end.When classifying non-current assets as held for sale, management makes estimates of their fair value (sales price and expected costs to sell). Depending on the nature of the non-current assets, the estimated fair value may be associated with uncertainty and possibly adjusted subsequently. Measurement of the fair value of non-current assets is categorized as level 2 in the fair value hierarchy as measurement is not based on observable market data. Key accounting estimates and judgments Useful life and residual value of property, plant and equipment  Property, plant and equipment form a substantial part of the total assets of the company, while periodic depreciation charges form a substantial part of the annual operating expenses. The useful life and residual value determined by the Executive Board based on its estimates and assumptions have a major impact on the measurement and determination of results of property, plant and equipment. The useful life of property, plant and equipment is partly estimated based on their useful productive lives, experiences related to such assets, the maintenance history and the period during which the company has the economic benefits from the utilization of the assets. Climate change, including associated legislation, may affect how, or for how long, items of property, plant and equipment may be used. However most climate-related physical risks are expected to manifest over a term that is generally longer than the maturity of most of the outstanding exposures. Periodic reviews show whether changes have occurred in estimates and assumptions as a result of which the useful life and/or residual value need to be adjusted accordingly. Such an adjustment is made prospectively.   For the key accounting estimates and judgments made with regards to the right-of-use assets recognized in relation to the leases of the Group, reference is made to note 3.4. Key accounting estimates and judgments Impairment analysis  Value in use is determined as the amount of estimated discounted future cash flows. For this purpose, assets are grouped into cash-generating units based on separately identifiable and largely independent cash flows. The cash flow projections are based on revenues, operating expenses and sustaining capital expenditures of the approved budget for the coming year and the two subsequent planning years. Cash flows beyond the previously mentioned period of three years are extrapolated, using a stable or decreasing growth rate, unless an increasing rate can be substantiated. Given that the cash flows are estimated before taxes, the discount rates used to calculate the present value of the cash flows are pre-tax rates based on the risk-free rates for bonds issued by the government in the relevant market, adjusted for a risk premium and specific risks relating to the countries and risks specific to the assets. The bonds period reflects the   average remaining useful life of the principal assets. As a company based in Europe, the Group assumes the long-term market equity risk premium to be 6.5% (2021: 6.5%).   When performing an impairment test, management makes an assessment of whether the cash-generating unit (mostly an individual terminal) will be able to generate positive net cash flows that are sufficient to support the value of the intangible assets, property, plant and equipment, and financial assets.   For value in use, the assessment is based on estimates of future expected cash flows (value in use) made on the basis of the budget for the coming year and two subsequent plan years, which form the basis for the 15-year period discounted cash flow model. Key assumptions applied are generally: the expected occupancy, the estimated storage rate per cbm (for revenues not covered by long-term contracts), sustaining capex expenditures, expected growth rates and the estimated terminal value after the 15-year period, together with the applied discount rates.   For value in use of oil assets, the assessment is impacted by the energy transition. In 2022, the cash flow forecast period of such assets is extended from a 15-year period (which continues to be used for non-oil terminals) to include the period in which the energy transition is expected to take place. Key assumptions applied are generally: the expected occupancy, the estimated storage rate per cbm (for revenues not covered by long-term contracts), sustaining capex expenditures, expected (decreasing) growth rates based on most recent IEA energy transition scenarios in  a range of -3% and -4% and the estimated terminal value together with the applied discount rates. As there is significant uncertainty on how the energy transition will impact our estimates these remain subject to constant review and monitoring.   Fair value less cost of disposal is primarily based either on comparable market-multiples and/or (indicative) (non-)binding bids or discounted cash flow models from the perspective of a willing buyer in an orderly transaction.   In certain situations, the fair value less cost of disposal of a terminal may be based on (preliminary) offers received from interested parties (level 2 fair value). Although such offers are conditional/preliminary by nature, management considers whether these offers may be representative of the fair value of the terminals concerned and assesses whether it is probable   that these terminals will be sold in the coming twelve months after the reporting period, resulting in a situation where the carrying amount will be recovered principally through a sale instead of through continued use.   These key assumptions are based on the current facts and circumstances and information available to management. By nature, these assumptions are subject to developments and change in later periods. This could potentially lead to (reversal of) impairments of individual terminals going forward. Key accounting estimates and judgments The fair value of a derivative financial instrument not traded on active markets is measured as the present value of the expected future cash flows under the contract (level 2 fair value). In determining this value, a valuation model is used that is based on the interest rates and the exchange rates as at the end of the reporting period. Reference is made to note 9.9 for more information.  BKey accounting estimates and judgments Deferred tax assets, including those arising from carry-forward losses, are recognized if it is probable that taxable profit is available against which losses can be offset. In determining this, Vopak uses estimates and assumptions that also affect the measurement of the deferred tax assets. A maturity schedule of the unrecognized carry-forward losses is shown on the next page.  Key accounting estimates and judgments  The defined benefit obligation is determined on the basis of assumptions for future developments in variables such as salary increase, price index increase, life expectancy and discount rate. All assumptions are assessed at the reporting date. Changes in the assumptions may significantly affect the liabilities and pension costs under the defined benefit plans. The weighted average of these assumptions as well as sensitivities of key assumptions are disclosed in this note.  Key accounting estimates and judgments  The amount recognized as a provision is management\u2019s best estimate of the amount required to settle the obligation. The outcome depends on future events that are uncertain by nature. In assessing the likely outcome of lawsuits and tax disputes, management also bases its assessment on external legal assistance and established precedents.    The Group is exposed to risks regarding environmental obligations arising from past activities. For example, a number of sites have to be decontaminated before being handed back at the end of the contractual period. Under current legislation, environmental plans and any other measures to be adopted have to be agreed with local, regional and national authorities as appropriate. As soon as such plans have been approved or other legal obligations arose, a provision is formed based on the most reliable estimate of possible future expenses. Given the degree of complexity and uncertainty in making such estimates, this does not guarantee that no additional costs will arise in the future.  ",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfAccountingJudgementsAndEstimatesExplanatory",
    "language": "en",
    "entity": "scheme:724500UL634GFV1KYF10",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
   }
  },
  "pp-value-28-2": {
   "value": "Note 2.1 Segment inf<span class=\"_ _3\"/>ormation A<span class=\"_ _1e\"> </span><span class=\"ff3 fs9\">Accounting policies </span>The accounting policies of the reportable segments are the same as the Group\u2019<span class=\"_ _9\"/>s accounting policies described throughout the notes when relev<span class=\"_ _7\"/>ant. Reportable segments Operating segments are reported in a manner consistent with the internal reporting provided to the Executiv<span class=\"_ _7\"/>e Board, whic<span class=\"_ _3\"/>h is the c<span class=\"_ _7\"/>hief operating decision maker<span class=\"_ _9\"/>. <span class=\"_ _9\"/>The division str<span class=\"_ _3\"/>ucture is primarily based on geographical markets. Business activities that cannot be allocated to an<span class=\"_ _7\"/>y other segment are reported under \u2018Global functions and corporate activities<span class=\"_ _7\"/>\u2019<span class=\"_ _9\"/>. <span class=\"_ _9\"/>T<span class=\"_ _7\"/>hese include primarily the head of<span class=\"_ _7\"/>fice costs, the Global IT costs and e<span class=\"_ _7\"/>xpenses related to other interests. V<span class=\"_ _3\"/>opak\u2019<span class=\"_ _9\"/>s five divisions are <span class=\"_ _7\"/>Americas, A<span class=\"_ _7\"/>sia &amp; Middle East, China &amp; North A<span class=\"_ _7\"/>sia, Europe &amp; Africa and New Energy &amp; LNG.  The EBI<span class=\"_ _7\"/>TD<span class=\"_ _3\"/>A and Group operating profit of the divisions include the net eff<span class=\"_ _3\"/>ects of the company<span class=\"_ _7\"/>-wide cost allocations. Costs that cannot be allocated to the divisions are part of the \u2018Global functions and corporate activities<span class=\"_ _7\"/>\u2019<span class=\"_ _9\"/>. <span class=\"_ _9\"/>T<span class=\"_ _7\"/>he actual allocated costs can dif<span class=\"_ _3\"/>fer per reporting period. Statement of income Global func-of whic<span class=\"_ _7\"/>h   Asia &amp;   of whic<span class=\"_ _7\"/>h China &amp;   of whic<span class=\"_ _7\"/>h New Energ<span class=\"_ _7\"/>y   tions and cor<span class=\"_ _7\"/>po<span class=\"ws3\">-</span>Amer<span class=\"_ _7\"/>icas United States Middle East Singapore North Asia <span class=\"_ _1b\"> </span>Europe <span class=\"_ _4\"/>&amp; Afr<span class=\"_ _7\"/>ica Netherlands &amp; LNG rat<span class=\"_ _7\"/>e activities <span class=\"_ _f\"> </span>T<span class=\"_ _9\"/>otal In EUR millions <span class=\"_ _1c3\"> </span>2022 <span class=\"_ _147\"> </span><span class=\"fc7\">2021 <span class=\"_ _147\"> </span></span>2022 <span class=\"_ _10\"> </span><span class=\"fc7\">2021 <span class=\"_ _147\"> </span></span>2022 <span class=\"_ _147\"> </span><span class=\"fc7\">2021 <span class=\"_ _147\"> </span></span>2022 <span class=\"_ _147\"> </span><span class=\"fc7\">2021 <span class=\"_ _147\"> </span></span>2022 <span class=\"_ _10\"> </span><span class=\"fc7\">2021 <span class=\"_ _147\"> </span></span>2022 <span class=\"_ _147\"> </span><span class=\"fc7\">2021 <span class=\"_ _147\"> </span></span>2022 <span class=\"_ _147\"> </span><span class=\"fc7\">2021 <span class=\"_ _147\"> </span></span>2022 <span class=\"_ _10\"> </span><span class=\"fc7\">2021 <span class=\"_ _147\"> </span></span>2022 <span class=\"_ _147\"> </span><span class=\"fc7\">2021 <span class=\"_ _147\"> </span></span>2022 <span class=\"_ _37\"> </span><span class=\"fc7 wsb\"> <span class=\"_ _c\"> </span>2021  </span>1  <span class=\"fs31 fc1\">Re<span class=\"_ _7\"/>venues </span>387<span class=\"_ _1\"/>.0 <span class=\"_ _13c\"> </span>326.6 <span class=\"_ _13c\"> </span><span class=\"ff41\">228.8 <span class=\"_ _13c\"> </span>184.7 <span class=\"_ _13c\"> </span></span>328.7 <span class=\"_ _232\"> </span>284.1 <span class=\"_ _232\"> </span>252.6 <span class=\"_ _8f\"> </span>21<span class=\"_ _7\"/>7<span class=\"_ _1\"/>.7 <span class=\"_ _19\"> </span>51<span class=\"_ _9\"/>.5 <span class=\"_ _17\"> </span>44.7 <span class=\"_ _13c\"> </span>593.4 <span class=\"_ _13c\"> </span>566.0 <span class=\"_ _147\"> </span>431<span class=\"_ _9\"/>.7 <span class=\"_ _147\"> </span>421<span class=\"_ _9\"/>.1 <span class=\"_ _b2\"> </span><span class=\"ff1\">n.a. <span class=\"_ _b2\"> </span>n.a. <span class=\"_ _60\"> </span>6.4 <span class=\"_ _60\"> </span>6.5 <span class=\"_ _18\"> </span>1,367<span class=\"_ _1\"/>.0 <span class=\"_ _15\"> </span>1,227<span class=\"_ _1\"/>.9 </span>Other operating income <span class=\"_ _aa\"> </span>8.1 <span class=\"_ _14\"> </span>1<span class=\"_ _9\"/>1<span class=\"_ _9\"/>.3 <span class=\"_ _38\"> </span>7<span class=\"_ _d\"/>.9 <span class=\"_ _60\"> </span>8.6 <span class=\"_ _1a\"> </span>1<span class=\"_ _7\"/>5.6 <span class=\"_ _21c\"> </span>12.8 <span class=\"_ _27\"> </span>2.2 <span class=\"_ _155\"> </span>1<span class=\"_ _8\"/>.3 <span class=\"_ _60\"> </span><span class=\"ff1\">8.9 <span class=\"_ _60\"> </span>6.9 <span class=\"_ _27\"> </span>2.7 <span class=\"_ _60\"> </span>6.5 <span class=\"_ _27\"> </span></span>2.1 <span class=\"_ _60\"> </span>3.0 <span class=\"_ _27\"> </span><span class=\"ff1\">3.6 <span class=\"_ _60\"> </span>3.7 <span class=\"_ _c3\"> </span>\u2013 <span class=\"_ _21c\"> </span>- 0.1 <span class=\"_ _21c\"> </span>38.9 <span class=\"_ _9d\"> </span>41<span class=\"_ _9\"/>.1 </span>Operating expenses <span class=\"_ _aa\"> </span>- 1<span class=\"_ _7\"/>83.0 <span class=\"_ _12\"> </span>- 159.9 <span class=\"_ _1dc\"> </span>- 1<span class=\"_ _9\"/>1<span class=\"_ _7\"/>5.5 <span class=\"_ _13c\"> </span>- 92.3 <span class=\"_ _37\"> </span><span class=\"ff1\">- 1<span class=\"_ _8\"/>1<span class=\"_ _3\"/>1<span class=\"_ _9\"/>.7 <span class=\"_ _12\"> </span>- 1<span class=\"_ _3\"/>0<span class=\"_ _5\"/>0.0 <span class=\"_ _232\"> </span><span class=\"ff41\">- 79.9 <span class=\"_ _13c\"> </span>- 62.4 <span class=\"_ _13c\"> </span></span>- 28.2 <span class=\"_ _13c\"> </span>- 22.1 <span class=\"_ _1dc\"> </span>- 321<span class=\"_ _8\"/>.6 <span class=\"_ _10b\"> </span>- 27<span class=\"_ _3\"/>6.8 <span class=\"_ _13\"> </span><span class=\"ff41\">- 244.4 <span class=\"_ _13\"> </span>- 202.1 <span class=\"_ _10\"> </span></span>- 1<span class=\"_ _7\"/>4.3 <span class=\"_ _8f\"> </span>- 1<span class=\"_ _9\"/>1<span class=\"_ _8\"/>.1 <span class=\"_ _13c\"> </span>- 54.6 <span class=\"_ _13c\"> </span>- 58.2 <span class=\"_ _12\"> </span>- 713.4 <span class=\"_ _15\"> </span>- 628.1 </span>Result joint v<span class=\"_ _7\"/>entures and associates <span class=\"_ _185\"> </span>1<span class=\"_ _7\"/>4.5 <span class=\"_ _1a\"> </span>1<span class=\"_ _3\"/>2.0 <span class=\"_ _60\"> </span>4.4 <span class=\"_ _155\"> </span>1<span class=\"_ _8\"/>.5 <span class=\"_ _21c\"> </span><span class=\"ff1\">79.0 <span class=\"_ _21c\"> </span>83.9 <span class=\"_ _27\"> </span></span>0.7 <span class=\"_ _60\"> </span>0.5 <span class=\"_ _17\"> </span><span class=\"ff1\">40.2 <span class=\"_ _21c\"> </span>38.9 <span class=\"_ _60\"> </span>3.0 <span class=\"_ _27\"> </span>4.0 <span class=\"_ _155\"> </span></span>1<span class=\"_ _9\"/>.1 <span class=\"_ _22c\"> </span>1<span class=\"_ _9\"/>.0 <span class=\"_ _17\"> </span><span class=\"ff1\">58.9 <span class=\"_ _233\"> </span>47<span class=\"_ _1\"/>.3 <span class=\"_ _17\"> </span>- 0.9 <span class=\"_ _21c\"> </span>- 0.4 <span class=\"_ _10\"> </span>1<span class=\"_ _7\"/>94.7 <span class=\"_ _13c\"> </span>185.7 </span>EBITD<span class=\"_ _7\"/>A 226.6 <span class=\"_ _37\"> </span>190.0 <span class=\"_ _fd\"> </span>125.6 <span class=\"_ _bb\"> </span>1<span class=\"_ _3\"/>02.5 <span class=\"_ _232\"> </span>31<span class=\"_ _3\"/>1<span class=\"_ _7\"/>.6 <span class=\"_ _37\"> </span>280.8 <span class=\"_ _37\"> </span>1<span class=\"_ _7\"/>75.6 <span class=\"_ _13c\"> </span>157<span class=\"_ _8\"/>.1 <span class=\"_ _15b\"> </span>72.4 <span class=\"_ _142\"> </span>68.4 <span class=\"_ _13c\"> </span>277<span class=\"_ _8\"/>.5 <span class=\"_ _37\"> </span>299.7 <span class=\"_ _37\"> </span>1<span class=\"_ _7\"/>90.5 <span class=\"_ _37\"> </span>223.0 <span class=\"_ _142\"> </span><span class=\"ff3\">48.2 <span class=\"_ _15b\"> </span>39.9 <span class=\"_ _fd\"> </span>- 49.1 <span class=\"_ _fe\"> </span>- 52.2 <span class=\"_ _13c\"> </span>887<span class=\"_ _8\"/>.2 <span class=\"_ _37\"> </span>826.6 </span>Depreciation and amortization <span class=\"_ _5a\"> </span>- 65.8 <span class=\"_ _13c\"> </span>- 64.3 <span class=\"_ _13c\"> </span><span class=\"ff41\">- 39.9 <span class=\"_ _13c\"> </span>- 34.9 <span class=\"_ _13c\"> </span></span>- 75.6 <span class=\"_ _232\"> </span>- 66.4 <span class=\"_ _13c\"> </span><span class=\"ff41\">- 56.0 <span class=\"_ _13c\"> </span>- 48.4 <span class=\"_ _10\"> </span></span>- 1<span class=\"_ _3\"/>2.8 <span class=\"_ _8f\"> </span>- 1<span class=\"_ _9\"/>1<span class=\"_ _9\"/>.9 <span class=\"_ _12\"> </span>- 1<span class=\"_ _7\"/>65.4 <span class=\"_ _10a\"> </span>- 1<span class=\"_ _7\"/>71<span class=\"_ _9\"/>.4 <span class=\"_ _1dc\"> </span>- 1<span class=\"_ _9\"/>13.7 <span class=\"_ _13\"> </span>- 120.5 <span class=\"_ _c3\"> </span><span class=\"ff1\">\u2013 <span class=\"_ _c3\"> </span>\u2013 <span class=\"_ _13c\"> </span>- 20.3 <span class=\"_ _8f\"> </span>- 1<span class=\"_ _3\"/>7<span class=\"_ _1\"/>.8 <span class=\"_ _13\"> </span>- 339.9 <span class=\"_ _1dc\"> </span>- 331<span class=\"_ _9\"/>.8 </span>T<span class=\"_ _8\"/>otal EBIT excluding exceptional it<span class=\"_ _7\"/>ems <span class=\"_ _d4\"> </span><span class=\"fc0\">160.8 <span class=\"_ _37\"> </span></span>125.7 <span class=\"_ _15b\"> </span>85.7 <span class=\"_ _21c\"> </span>67<span class=\"_ _8\"/>.6 <span class=\"_ _37\"> </span>236.0 <span class=\"_ _fd\"> </span><span class=\"fcb\">214.4 <span class=\"_ _b\"> </span></span>1<span class=\"_ _3\"/>19.6 <span class=\"_ _37\"> </span>1<span class=\"_ _7\"/>08.7 <span class=\"_ _15b\"> </span>59.6 <span class=\"_ _15b\"> </span><span class=\"fcb\">56.5 <span class=\"_ _b\"> </span></span>1<span class=\"_ _9\"/>12.1 <span class=\"_ _37\"> </span><span class=\"fcb\">128.3 <span class=\"_ _15b\"> </span></span>76.8 <span class=\"_ _37\"> </span>1<span class=\"_ _7\"/>02.5 <span class=\"_ _15b\"> </span><span class=\"ff3 fc0\">48.2 <span class=\"_ _15b\"> </span><span class=\"fcb\">39.9 <span class=\"_ _fe\"> </span></span>- 69.4 <span class=\"_ _fd\"> </span><span class=\"fcb\">- 70.0 <span class=\"_ _232\"> </span></span>547<span class=\"_ _8\"/>.3 <span class=\"_ _37\"> </span><span class=\"fcb\">494.8 </span></span>Exceptional items <span class=\"_ _8d\"> </span>- 8.6 <span class=\"_ _13c\"> </span>- 75.8 <span class=\"_ _98\"> </span>- 0.8 <span class=\"_ _22c\"> </span>1<span class=\"_ _9\"/>.5 <span class=\"_ _134\"> </span>\u2013 <span class=\"_ _c3\"> </span>\u2013 <span class=\"_ _13\"> </span>- 420.4 <span class=\"_ _fb\"> </span>\u2013 <span class=\"_ _1b0\"> </span>- 33.4 <span class=\"_ _10\"> </span>- 1<span class=\"_ _3\"/>0.8 <span class=\"_ _c3\"> </span>\u2013 <span class=\"_ _fb\"> </span>\u2013 <span class=\"_ _15\"> </span>- 463.2 <span class=\"_ _13c\"> </span>- 85.1 T<span class=\"_ _8\"/>otal EBIT including exceptional it<span class=\"_ _7\"/>ems <span class=\"_ _d4\"> </span><span class=\"fc0\">152.2 <span class=\"_ _15b\"> </span></span>49.9 <span class=\"_ _234\"> </span><span class=\"fc0\">235.2 <span class=\"_ _37\"> </span></span>215.9 <span class=\"_ _73\"> </span><span class=\"fc0\">59.6 <span class=\"_ _15b\"> </span></span>56.5 <span class=\"_ _28\"> </span><span class=\"fc0\">- 308.3 <span class=\"_ _37\"> </span></span>128.3 <span class=\"_ _73\"> </span><span class=\"fc0\">14.8 <span class=\"_ _15b\"> </span></span>29.1 <span class=\"_ _10\"> </span><span class=\"fc0\">-69.4 <span class=\"_ _10\"> </span></span>-70.0 <span class=\"_ _15b\"> </span><span class=\"fc0\">84.1 <span class=\"_ _37\"> </span></span>409.7 2 Reconciliation consolidated net pr<span class=\"_ _7\"/>ofit / (loss) Net finance costs <span class=\"_ _235\"> </span>- 1<span class=\"_ _7\"/>20.7 <span class=\"_ _10b\"> </span>- 1<span class=\"_ _9\"/>06.5 Profit / (loss) bef<span class=\"_ _7\"/>ore income tax - 36.6 <span class=\"_ _37\"> </span>303.2 Income tax <span class=\"_ _236\"> </span>- 1<span class=\"_ _3\"/>0<span class=\"_ _3\"/>1<span class=\"_ _9\"/>.2 <span class=\"_ _13c\"> </span>- 60.0 Net profit / (loss) <span class=\"_ _237\"> </span><span class=\"fc0\">- 137<span class=\"_ _8\"/>.8 <span class=\"_ _37\"> </span><span class=\"fcb\">243.2 </span></span>Non-controlling interests <span class=\"_ _238\"> </span>- 30.6 <span class=\"_ _232\"> </span>- 29.0 Net profit (loss) holders   of ordinary shar<span class=\"_ _7\"/>es <span class=\"_ _239\"> </span><span class=\"fc0\">- 168.4 <span class=\"_ _37\"> </span></span>214.2 Occupancy rate subsidiaries 94% <span class=\"_ _116\"> </span>90% <span class=\"_ _73\"> </span>86% <span class=\"_ _116\"> </span>87% <span class=\"_ _73\"> </span>73% <span class=\"_ _116\"> </span>75% <span class=\"_ _142\"> </span>86% <span class=\"_ _116\"> </span>87% <span class=\"_ _23a\"> </span>87% <span class=\"_ _116\"> </span>87% 1 <span class=\"_ _b3\"> </span>The Group has one single global customer who contributed both y<span class=\"_ _7\"/>ears presented just above 1<span class=\"_ _9\"/>0% of the consolidated revenues. All divisions pro<span class=\"_ _7\"/>vided ser<span class=\"_ _5\"/>vices to this single global customer<span class=\"_ _3\"/>. 2 <span class=\"_ _b3\"> </span>As the Group neither allocates interest expenses to segments, nor accounts f<span class=\"_ _7\"/>or taxes in them, there is no segmented disclosure of the net profit / (loss). Segmentation Statement of financial position Global func-of whic<span class=\"_ _7\"/>h   Asia &amp;   of whic<span class=\"_ _7\"/>h China &amp;   of whic<span class=\"_ _7\"/>h New Energ<span class=\"_ _7\"/>y   tions and cor<span class=\"_ _7\"/>po<span class=\"ws3\">-</span>Amer<span class=\"_ _7\"/>icas United States Middle East Singapore North Asia <span class=\"_ _1b\"> </span>Europe <span class=\"_ _4\"/>&amp; Afr<span class=\"_ _7\"/>ica Netherlands &amp; LNG rat<span class=\"_ _7\"/>e activities <span class=\"_ _f\"> </span>T<span class=\"_ _9\"/>otal In EUR millions <span class=\"_ _1c3\"> </span><span class=\"fs7 fc0\">2022 <span class=\"_ _147\"> </span><span class=\"fc7\">2021 <span class=\"_ _147\"> </span></span>2022 <span class=\"_ _10\"> </span><span class=\"fc7\">2021 <span class=\"_ _147\"> </span></span>2022 <span class=\"_ _147\"> </span><span class=\"fc7\">2021 <span class=\"_ _147\"> </span></span>2022 <span class=\"_ _147\"> </span><span class=\"fc7\">2021 <span class=\"_ _147\"> </span></span>2022 <span class=\"_ _10\"> </span><span class=\"fc7\">2021 <span class=\"_ _147\"> </span></span>2022 <span class=\"_ _147\"> </span><span class=\"fc7\">2021 <span class=\"_ _147\"> </span></span>2022 <span class=\"_ _147\"> </span><span class=\"fc7\">2021 <span class=\"_ _147\"> </span></span>2022 <span class=\"_ _10\"> </span><span class=\"fc7\">2021 <span class=\"_ _147\"> </span></span>2022 <span class=\"_ _147\"> </span><span class=\"fc7\">2021 <span class=\"_ _147\"> </span></span>2022 <span class=\"_ _147\"> </span><span class=\"fc7\">2021 </span></span>Assets of subsidiaries <span class=\"_ _39\"> </span>1,1<span class=\"_ _3\"/>33.1 <span class=\"_ _e7\"> </span>1,1<span class=\"_ _7\"/>7<span class=\"_ _3\"/>6.1 <span class=\"_ _13c\"> </span><span class=\"ff41\">624.0 <span class=\"_ _13c\"> </span>582.9 <span class=\"_ _15\"> </span></span>1,257<span class=\"_ _d\"/>.5 <span class=\"_ _119\"> </span>1,250.8 <span class=\"_ _232\"> </span><span class=\"ff41\">888.8 <span class=\"_ _13c\"> </span>860.9 <span class=\"_ _232\"> </span></span>208.6 <span class=\"_ _13c\"> </span>233.3 <span class=\"_ _119\"> </span>2,133.2 <span class=\"_ _b3\"> </span>2,500.2 <span class=\"_ _28\"> </span>1,400.2 <span class=\"_ _e7\"> </span>1,751<span class=\"_ _9\"/>.2 <span class=\"_ _60\"> </span><span class=\"ff1\">2.7 <span class=\"_ _27\"> </span>0.5 <span class=\"_ _13c\"> </span>386.2 <span class=\"_ _13c\"> </span>342.5 <span class=\"_ _18\"> </span>5,1<span class=\"_ _7\"/>21<span class=\"_ _9\"/>.3 <span class=\"_ _28\"> </span>5,503.4 </span>Joint v<span class=\"_ _7\"/>entures and associates <span class=\"_ _148\"> </span>325.6 <span class=\"_ _13c\"> </span>292.3 <span class=\"_ _13c\"> </span><span class=\"ff41\">239.3 <span class=\"_ _13c\"> </span>203.6 <span class=\"_ _232\"> </span></span>728.8 <span class=\"_ _13c\"> </span>486.5 <span class=\"_ _155\"> </span>1<span class=\"_ _8\"/>.3 <span class=\"_ _155\"> </span>1<span class=\"_ _9\"/>.1 <span class=\"_ _8e\"> </span>367<span class=\"_ _1\"/>.0 <span class=\"_ _13c\"> </span>343.4 <span class=\"_ _1a\"> </span>1<span class=\"_ _7\"/>9.1 <span class=\"_ _17\"> </span>20.0 <span class=\"_ _155\"> </span>1<span class=\"_ _9\"/>.7 <span class=\"_ _22c\"> </span>1<span class=\"_ _9\"/>.5 <span class=\"_ _8e\"> </span><span class=\"ff1\">437<span class=\"_ _1\"/>.1 <span class=\"_ _13c\"> </span>440.2 <span class=\"_ _60\"> </span>0.2 <span class=\"_ _27\"> </span>0.9 <span class=\"_ _15\"> </span>1,877<span class=\"_ _1\"/>.8 <span class=\"_ _28\"> </span>1,583.3 </span>T<span class=\"_ _8\"/>otal assets <span class=\"_ _cb\"> </span><span class=\"fc0\">1,458.7 <span class=\"_ _34\"> </span></span>1,468.4 <span class=\"_ _37\"> </span><span class=\"ff19 fc0\">863.3 <span class=\"_ _fd\"> </span><span class=\"fcb\">786.5 <span class=\"_ _19f\"> </span></span><span class=\"ff3\">1,986.3 <span class=\"_ _b3\"> </span></span></span>1,737<span class=\"_ _1\"/>.3 <span class=\"_ _37\"> </span><span class=\"ff19 fc0\">890.1 <span class=\"_ _fd\"> </span><span class=\"fcb\">862.0 <span class=\"_ _37\"> </span></span><span class=\"ff3\">575.6 <span class=\"_ _37\"> </span></span></span>576.7 <span class=\"_ _34\"> </span><span class=\"fc0\">2,152.3 <span class=\"_ _34\"> </span></span>2,520.2 <span class=\"_ _117\"> </span>1,40<span class=\"_ _7\"/>1<span class=\"_ _7\"/>.9 <span class=\"_ _34\"> </span><span class=\"fcb\">1,752.7 <span class=\"_ _37\"> </span></span><span class=\"ff3\">439.8 <span class=\"_ _fd\"> </span><span class=\"fcb\">440.7 <span class=\"_ _37\"> </span></span>386.4 <span class=\"_ _fd\"> </span><span class=\"fcb\">343.4 <span class=\"_ _19f\"> </span></span>6,999.1 <span class=\"_ _b3\"> </span><span class=\"fcb\">7<span class=\"_ _1\"/>,086.7 </span></span>T<span class=\"_ _8\"/>otal liabilities <span class=\"_ _45\"> </span><span class=\"fc0\">261.9 <span class=\"_ _fd\"> </span></span>255.7 <span class=\"_ _37\"> </span>135.9 <span class=\"_ _fd\"> </span><span class=\"fcb\">143.4 <span class=\"_ _232\"> </span></span>71<span class=\"_ _3\"/>1<span class=\"_ _7\"/>.8 <span class=\"_ _37\"> </span><span class=\"fcb\">625.2 <span class=\"_ _37\"> </span></span>531<span class=\"_ _7\"/>.0 <span class=\"_ _37\"> </span><span class=\"fcb\">490.9 <span class=\"_ _142\"> </span></span>23.6 <span class=\"_ _15b\"> </span><span class=\"fcb\">49.1 <span class=\"_ _37\"> </span></span>532.9 <span class=\"_ _fd\"> </span><span class=\"fcb\">548.9 <span class=\"_ _37\"> </span></span>398.1 <span class=\"_ _fd\"> </span><span class=\"fcb\">409.5 <span class=\"_ _1a2\"> </span></span><span class=\"ff3\">5.4 <span class=\"_ _1a2\"> </span><span class=\"fcb\">8.1 <span class=\"_ _b3\"> </span></span>2,317<span class=\"_ _1\"/>.2 <span class=\"_ _19f\"> </span><span class=\"fcb\">2,254.1 <span class=\"_ _34\"> </span></span>3,852.8 <span class=\"_ _117\"> </span><span class=\"fcb\">3,741<span class=\"_ _3\"/>.1 </span></span> 1 Inv<span class=\"_ _3\"/>estmentsGlobal func-of whic<span class=\"_ _7\"/>h   Asia &amp;   of whic<span class=\"_ _7\"/>h China &amp;   of whic<span class=\"_ _7\"/>h New Energ<span class=\"_ _7\"/>y   tions and cor<span class=\"_ _7\"/>po<span class=\"ws3\">-</span>Amer<span class=\"_ _7\"/>icas United States Middle East Singapore North Asia <span class=\"_ _1b\"> </span>Europe <span class=\"_ _4\"/>&amp; Afr<span class=\"_ _7\"/>ica Netherlands &amp; LNG rat<span class=\"_ _7\"/>e activities <span class=\"_ _f\"> </span>T<span class=\"_ _9\"/>otal In EUR millions <span class=\"_ _1c3\"> </span><span class=\"fs7 fc0\">2022 <span class=\"_ _147\"> </span><span class=\"fc7\">2021 <span class=\"_ _147\"> </span></span>2022 <span class=\"_ _10\"> </span><span class=\"fc7\">2021 <span class=\"_ _147\"> </span></span>2022 <span class=\"_ _147\"> </span><span class=\"fc7\">2021 <span class=\"_ _147\"> </span></span>2022 <span class=\"_ _147\"> </span><span class=\"fc7\">2021 <span class=\"_ _147\"> </span></span>2022 <span class=\"_ _10\"> </span><span class=\"fc7\">2021 <span class=\"_ _147\"> </span></span>2022 <span class=\"_ _147\"> </span><span class=\"fc7\">2021 <span class=\"_ _147\"> </span></span>2022 <span class=\"_ _147\"> </span><span class=\"fc7\">2021 <span class=\"_ _147\"> </span></span>2022 <span class=\"_ _10\"> </span><span class=\"fc7\">2021 <span class=\"_ _147\"> </span></span>2022 <span class=\"_ _147\"> </span><span class=\"fc7\">2021 <span class=\"_ _147\"> </span></span>2022 <span class=\"_ _147\"> </span><span class=\"fc7\">2021 </span></span>Intangible assets <span class=\"_ _6d\"> </span>1<span class=\"_ _9\"/>.3 <span class=\"_ _60\"> </span>3.0 <span class=\"_ _27\"> </span><span class=\"ff41\">0.8 <span class=\"_ _60\"> </span>2.1 <span class=\"_ _60\"> </span></span>0.1 <span class=\"_ _27\"> </span>0.6 <span class=\"_ _60\"> </span><span class=\"ff41\">0.2 <span class=\"_ _27\"> </span>0.5 <span class=\"_ _fb\"> </span></span>\u2013 <span class=\"_ _27\"> </span>0.3 <span class=\"_ _60\"> </span>3.7 <span class=\"_ _27\"> </span>3.8 <span class=\"_ _155\"> </span>1<span class=\"_ _9\"/>.5 <span class=\"_ _27\"> </span>3.0 <span class=\"_ _fb\"> </span><span class=\"ff1\">\u2013 <span class=\"_ _c3\"> </span>\u2013 <span class=\"_ _1a\"> </span>1<span class=\"_ _3\"/>2.8 <span class=\"_ _b2\"> </span>1<span class=\"_ _3\"/>7<span class=\"_ _1\"/>.7 <span class=\"_ _14\"> </span>1<span class=\"_ _7\"/>7<span class=\"_ _1\"/>.9 <span class=\"_ _21c\"> </span>25.4 </span>Property<span class=\"_ _3\"/>, plant and 2 equipment 91<span class=\"_ _9\"/>.1 <span class=\"_ _10\"> </span>1<span class=\"_ _3\"/>72.4 <span class=\"_ _21c\"> </span>54.7 <span class=\"_ _10\"> </span>1<span class=\"_ _3\"/>22.1 <span class=\"_ _21c\"> </span><span class=\"ff1\">48.3 <span class=\"_ _17\"> </span>63.9 <span class=\"_ _19\"> </span></span>41<span class=\"_ _9\"/>.1 <span class=\"_ _17\"> </span>40.6 <span class=\"_ _14\"> </span>1<span class=\"_ _9\"/>1<span class=\"_ _9\"/>.3 <span class=\"_ _1a\"> </span>1<span class=\"_ _7\"/>3.0 <span class=\"_ _8f\"> </span>21<span class=\"_ _3\"/>7<span class=\"_ _1\"/>.8 <span class=\"_ _13c\"> </span>230.2 <span class=\"_ _10\"> </span>1<span class=\"_ _7\"/>83.9 <span class=\"_ _8f\"> </span>1<span class=\"_ _3\"/>77<span class=\"_ _1\"/>.6 <span class=\"_ _fb\"> </span><span class=\"ff1\">\u2013 <span class=\"_ _c3\"> </span>\u2013 <span class=\"_ _155\"> </span>1<span class=\"_ _8\"/>.5 <span class=\"_ _155\"> </span>1<span class=\"_ _9\"/>.8 <span class=\"_ _232\"> </span>370.0 <span class=\"_ _90\"> </span>481<span class=\"_ _9\"/>.3 </span>Joint v<span class=\"_ _7\"/>entures and associates <span class=\"_ _164\"> </span>9.0 <span class=\"_ _21c\"> </span>25.5 <span class=\"_ _27\"> </span><span class=\"ff41\">9.0 <span class=\"_ _21c\"> </span>24.9 <span class=\"_ _c3\"> </span></span>\u2013 <span class=\"_ _233\"> </span>57<span class=\"_ _1\"/>.0 <span class=\"_ _fb\"> </span><span class=\"ff41\">\u2013 <span class=\"_ _c3\"> </span>\u2013 <span class=\"_ _17\"> </span></span>23.8 <span class=\"_ _60\"> </span>9.6 <span class=\"_ _c3\"> </span>\u2013 <span class=\"_ _fb\"> </span>\u2013 <span class=\"_ _c3\"> </span><span class=\"ff41\">\u2013 <span class=\"_ _c3\"> </span>\u2013 <span class=\"_ _155\"> </span></span>1<span class=\"_ _9\"/>.5 <span class=\"_ _21c\"> </span>16.5 <span class=\"_ _27\"> </span>0.4 <span class=\"_ _22c\"> </span>1<span class=\"_ _9\"/>.4 <span class=\"_ _21c\"> </span>34.7 <span class=\"_ _8e\"> </span>1<span class=\"_ _9\"/>1<span class=\"_ _3\"/>0.0 Other non-current assets <span class=\"_ _c3\"> </span>0.1 <span class=\"_ _60\"> </span>0.2 <span class=\"_ _c3\"> </span><span class=\"ff41\">\u2013 <span class=\"_ _c3\"> </span>\u2013 <span class=\"_ _60\"> </span></span>0.4 <span class=\"_ _21c\"> </span>- 0.2 <span class=\"_ _27\"> </span><span class=\"ff41\">0.4 <span class=\"_ _21c\"> </span>- 0.2 <span class=\"_ _60\"> </span></span>0.4 <span class=\"_ _27\"> </span>0.2 <span class=\"_ _c3\"> </span>\u2013 <span class=\"_ _155\"> </span>1<span class=\"_ _9\"/>.1 <span class=\"_ _c3\"> </span>\u2013 <span class=\"_ _155\"> </span>1<span class=\"_ _8\"/>.1 <span class=\"_ _fb\"> </span><span class=\"ff1\">\u2013 <span class=\"_ _c3\"> </span>\u2013 <span class=\"_ _fb\"> </span>\u2013 <span class=\"_ _c3\"> </span>\u2013 <span class=\"_ _27\"> </span>0.9 <span class=\"_ _155\"> </span>1<span class=\"_ _9\"/>.3 </span>T<span class=\"_ _8\"/>otal <span class=\"_ _1ff\"> </span>1<span class=\"_ _3\"/>0<span class=\"_ _3\"/>1.5 <span class=\"_ _bb\"> </span>20<span class=\"_ _7\"/>1<span class=\"_ _7\"/>.1 <span class=\"_ _15b\"> </span><span class=\"ff19 fc0\">64.5 <span class=\"_ _37\"> </span><span class=\"fcb\">149.1 <span class=\"_ _142\"> </span></span><span class=\"ff3\">48.8 <span class=\"_ _bb\"> </span></span></span>121<span class=\"_ _7\"/>.3 <span class=\"_ _143\"> </span>41.7 <span class=\"_ _142\"> </span><span class=\"fcb\">40.9 <span class=\"_ _15b\"> </span></span><span class=\"ff3\">35.5 <span class=\"_ _15b\"> </span></span>23.1 <span class=\"_ _37\"> </span><span class=\"fc0\">221.5 <span class=\"_ _fd\"> </span></span>235.1 <span class=\"_ _37\"> </span>185.4 <span class=\"_ _37\"> </span>181<span class=\"_ _7\"/>.7 <span class=\"_ _26\"> </span><span class=\"ff3 fc0\">1<span class=\"_ _7\"/>.5 <span class=\"_ _15b\"> </span><span class=\"fcb\">16.5 <span class=\"_ _15b\"> </span></span>14.7 <span class=\"_ _15b\"> </span><span class=\"fcb\">20.9 <span class=\"_ _37\"> </span></span>423.5 <span class=\"_ _37\"> </span><span class=\"fcb\">61<span class=\"_ _7\"/>8.0 </span></span>1 <span class=\"_ _b3\"> </span>Excluding loans granted, finance lease receiv<span class=\"_ _7\"/>ables and acquisition of subsidiaries, joint ventures and associates. 2 <span class=\"_ _b3\"> </span>Relates only to P<span class=\"_ _7\"/>ropert<span class=\"_ _5\"/>y<span class=\"_ _3\"/>, plant and equipment - owned assets. The table below pro<span class=\"_ _7\"/>vides an ov<span class=\"_ _7\"/>er<span class=\"_ _5\"/>view of the re<span class=\"_ _7\"/>venues per product type per report<span class=\"_ _5\"/>able segment (product-mark<span class=\"_ _7\"/>et combinations). Amer<span class=\"_ _7\"/>icas <span class=\"_ _bc\"> </span>Asia &amp; Middle East <span class=\"_ _8f\"> </span>China &amp; North <span class=\"_ _3\"/>Asia <span class=\"_ _27\"> </span><span class=\"ws42\">Europe <span class=\"_ _5\"/>&amp; Africa <span class=\"_ _49\"> </span></span>Other <span class=\"_ _3d\"> </span>T<span class=\"_ _9\"/>otal In EUR millions <span class=\"_ _22d\"> </span>2022 <span class=\"_ _38\"> </span><span class=\"fc7\">2021 <span class=\"_ _38\"> </span></span>2022 <span class=\"_ _155\"> </span><span class=\"fc7\">2021 <span class=\"_ _38\"> </span></span>2022 <span class=\"_ _38\"> </span><span class=\"fc7\">2021 <span class=\"_ _38\"> </span></span>2022 <span class=\"_ _155\"> </span><span class=\"fc7\">2021 <span class=\"_ _38\"> </span></span>2022 <span class=\"_ _38\"> </span><span class=\"fc7\">2021 <span class=\"_ _155\"> </span></span>2022 <span class=\"_ _38\"> </span>2021 Chemical products <span class=\"_ _57\"> </span>1<span class=\"_ _7\"/>90.1 <span class=\"_ _155\"> </span>1<span class=\"_ _3\"/>44.0 <span class=\"_ _39\"> </span>1<span class=\"_ _3\"/>47<span class=\"_ _1\"/>.6 <span class=\"_ _aa\"> </span>1<span class=\"_ _9\"/>1<span class=\"_ _7\"/>5.3 <span class=\"_ _bd\"> </span>50.8 <span class=\"_ _19a\"> </span>43.7 <span class=\"_ _155\"> </span>21<span class=\"_ _7\"/>5.8 <span class=\"_ _22c\"> </span>192.0 <span class=\"_ _4d\"> </span>\u2013 <span class=\"_ _4d\"> </span>\u2013 <span class=\"_ _22c\"> </span>604.3 <span class=\"_ _ad\"> </span>495.0 Oil products <span class=\"_ _241\"> </span>1<span class=\"_ _7\"/>39.3 <span class=\"_ _22c\"> </span>136.5 <span class=\"_ _3a\"> </span>1<span class=\"_ _3\"/>67<span class=\"_ _1\"/>.9 <span class=\"_ _155\"> </span>1<span class=\"_ _7\"/>48.5 <span class=\"_ _c9\"> </span>0.4 <span class=\"_ _95\"> </span>1<span class=\"_ _8\"/>.0 <span class=\"_ _ad\"> </span>249.7 <span class=\"_ _22c\"> </span>259.4 <span class=\"_ _4d\"> </span>\u2013 <span class=\"_ _228\"> </span>\u2013 <span class=\"_ _aa\"> </span>557<span class=\"_ _8\"/>.3 <span class=\"_ _ad\"> </span>545.4 V<span class=\"_ _3\"/>egoils and biofuels <span class=\"_ _57\"> </span>48.0 <span class=\"_ _bd\"> </span>38.0 <span class=\"_ _d9\"> </span>1<span class=\"_ _9\"/>.1 <span class=\"_ _1b1\"> </span>2.0 <span class=\"_ _140\"> </span>0.3 <span class=\"_ _4d\"> </span>\u2013 <span class=\"_ _c2\"> </span>71<span class=\"_ _9\"/>.2 <span class=\"_ _c2\"> </span>61<span class=\"_ _8\"/>.8 <span class=\"_ _228\"> </span>\u2013 <span class=\"_ _228\"> </span>\u2013 <span class=\"_ _155\"> </span>1<span class=\"_ _3\"/>20.6 <span class=\"_ _39\"> </span><span class=\"ls8b ws15b\">101<span class=\"_ _7\"/>.<span class=\"_ _5\"/>8<span class=\"_ _4\"/> </span>Gas products <span class=\"_ _10e\"> </span>\u2013 <span class=\"_ _4d\"> </span>\u2013 <span class=\"_ _140\"> </span>3.0 <span class=\"_ _c9\"> </span>5.6 <span class=\"_ _228\"> </span>\u2013 <span class=\"_ _4d\"> </span>\u2013 <span class=\"_ _bd\"> </span>38.8 <span class=\"_ _bd\"> </span>35.8 <span class=\"_ _4d\"> </span>\u2013 <span class=\"_ _228\"> </span>\u2013 <span class=\"_ _c2\"> </span>41<span class=\"_ _9\"/>.8 <span class=\"_ _c2\"> </span>41<span class=\"_ _8\"/>.4 Others <span class=\"_ _242\"> </span>9.6 <span class=\"_ _c9\"> </span>8.1 <span class=\"_ _c9\"> </span>9.1 <span class=\"_ _22b\"> </span>1<span class=\"_ _7\"/>2.8 <span class=\"_ _228\"> </span>\u2013 <span class=\"_ _228\"> </span>\u2013 <span class=\"_ _fb\"> </span>1<span class=\"_ _3\"/>7<span class=\"_ _1\"/>.9 <span class=\"_ _fb\"> </span>1<span class=\"_ _7\"/>7<span class=\"_ _1\"/>.0 <span class=\"_ _c9\"> </span>6.4 <span class=\"_ _140\"> </span>6.4 <span class=\"_ _19a\"> </span>43.0 <span class=\"_ _bd\"> </span>44.3 Revenues <span class=\"_ _1ef\"> </span><span class=\"fc0\">387<span class=\"_ _8\"/>.0 <span class=\"_ _1a2\"> </span><span class=\"fcb\">326.6 <span class=\"_ _1a2\"> </span></span>328.7 <span class=\"_ _1a2\"> </span><span class=\"fcb\">284.2 <span class=\"_ _a8\"> </span></span>51<span class=\"_ _7\"/>.5 <span class=\"_ _76\"> </span><span class=\"fcb\">44.7 <span class=\"_ _1a2\"> </span></span>593.4 <span class=\"_ _26\"> </span><span class=\"fcb\">566.0 <span class=\"_ _ea\"> </span></span>6.4 <span class=\"_ _ea\"> </span><span class=\"fcb\">6.4 <span class=\"_ _116\"> </span></span>1,367<span class=\"_ _8\"/>.0 <span class=\"_ _8f\"> </span><span class=\"fcb\">1,227<span class=\"_ _8\"/>.9 </span></span>1 <span class=\"_ _b3\"> </span>New Energy &amp; LNG division only consists of f<span class=\"_ _7\"/>our joint ventures, theref<span class=\"_ _7\"/>or no revenue. Summar<span class=\"_ _3\"/>ized statement of t<span class=\"_ _3\"/>otal comprehensiv<span class=\"_ _7\"/>e income T<span class=\"_ _8\"/>otal joint Asia &amp;   China &amp; New Energ<span class=\"_ _7\"/>y vent<span class=\"_ _7\"/>ures and of whic<span class=\"_ _7\"/>h  joint of whic<span class=\"_ _7\"/>h  Amer<span class=\"_ _7\"/>icas Middle East North Asia <span class=\"_ _26\"> </span>Europe <span class=\"_ _5\"/>&amp; Africa &amp; LNG <span class=\"_ _1bb\"> </span>Other associates vent<span class=\"_ _7\"/>ures associates In EUR millions <span class=\"_ _19e\"> </span>2022 <span class=\"_ _289\"> </span><span class=\"fc7\">2021 <span class=\"_ _289\"> </span></span>2022 <span class=\"_ _289\"> </span><span class=\"fc7\">2021 <span class=\"_ _8f\"> </span></span>2022 <span class=\"_ _289\"> </span><span class=\"fc7\">2021 <span class=\"_ _289\"> </span></span>2022 <span class=\"_ _289\"> </span><span class=\"fc7\">2021 <span class=\"_ _8f\"> </span></span>2022 <span class=\"_ _289\"> </span><span class=\"fc7\">2021 <span class=\"_ _289\"> </span></span>2022 <span class=\"_ _289\"> </span><span class=\"fc7\">2021 <span class=\"_ _8f\"> </span></span>2022 <span class=\"_ _289\"> </span><span class=\"fc7\">2021 <span class=\"_ _289\"> </span></span>2022 <span class=\"_ _8f\"> </span><span class=\"fc7\">2021 <span class=\"_ _289\"> </span></span>2022 <span class=\"_ _289\"> </span>2021Re<span class=\"_ _7\"/>venues <span class=\"_ _e5\"> </span>1<span class=\"_ _7\"/>97<span class=\"_ _1\"/>.3 <span class=\"_ _8e\"> </span>1<span class=\"_ _7\"/>55.6 <span class=\"_ _15b\"> </span>7<span class=\"_ _9\"/>41<span class=\"_ _9\"/>.5 <span class=\"_ _147\"> </span>606.4 <span class=\"_ _8f\"> </span>221<span class=\"_ _8\"/>.3 <span class=\"_ _8e\"> </span>213.8 <span class=\"_ _9d\"> </span>49.6 <span class=\"_ _9d\"> </span>52.0 <span class=\"_ _8e\"> </span>31<span class=\"_ _7\"/>6.1 <span class=\"_ _147\"> </span>303.2 <span class=\"_ _aa\"> </span>1<span class=\"_ _9\"/>.0 <span class=\"_ _d2\"> </span>\u2013 <span class=\"_ _1d\"> </span>1,526.8 <span class=\"_ _13\"> </span>1,331<span class=\"_ _9\"/>.0 <span class=\"_ _147\"> </span><span class=\"ff41\">895.8 <span class=\"_ _8e\"> </span>81<span class=\"_ _7\"/>0.1 <span class=\"_ _8f\"> </span>631<span class=\"_ _8\"/>.0 <span class=\"_ _90\"> </span>520.9 </span>Other income <span class=\"_ _a9\"> </span>40.0 <span class=\"_ _19\"> </span>39.1 <span class=\"_ _22c\"> </span>5.6 <span class=\"_ _233\"> </span>1<span class=\"_ _3\"/>0.7 <span class=\"_ _1b\"> </span>1<span class=\"_ _7\"/>8.7 <span class=\"_ _1b\"> </span>1<span class=\"_ _7\"/>2.0 <span class=\"_ _156\"> </span>1<span class=\"_ _9\"/>.1 <span class=\"_ _9d\"> </span>- 0.2 <span class=\"_ _17\"> </span><span class=\"ls9e wsec\">111.<span class=\"_ _4\"/>5<span class=\"_ _4\"> </span> <span class=\"_ _8e\"> </span></span>1<span class=\"_ _7\"/>55.3 <span class=\"_ _d2\"> </span>\u2013 <span class=\"_ _d2\"> </span>\u2013 <span class=\"_ _8f\"> </span>1<span class=\"_ _3\"/>7<span class=\"_ _7\"/>6.9 <span class=\"_ _8e\"> </span>21<span class=\"_ _7\"/>6.9 <span class=\"_ _9d\"> </span><span class=\"ff41\">56.4 <span class=\"_ _289\"> </span>1<span class=\"_ _3\"/>09.9 <span class=\"_ _8e\"> </span>1<span class=\"_ _7\"/>20.5 <span class=\"_ _15b\"> </span>1<span class=\"_ _3\"/>07<span class=\"_ _8\"/>.0 </span>Operating expenses <span class=\"_ _165\"> </span>- 1<span class=\"_ _7\"/>47<span class=\"_ _1\"/>.9 <span class=\"_ _10a\"> </span>- 1<span class=\"_ _7\"/>23.3 <span class=\"_ _37\"> </span>- 21<span class=\"_ _3\"/>7<span class=\"_ _8\"/>.5 <span class=\"_ _10a\"> </span>- 1<span class=\"_ _3\"/>33.8 <span class=\"_ _90\"> </span>- 73.4 <span class=\"_ _147\"> </span>- 58.3 <span class=\"_ _8e\"> </span>- 1<span class=\"_ _7\"/>9.3 <span class=\"_ _90\"> </span>- 18.5 <span class=\"_ _10a\"> </span>- 1<span class=\"_ _3\"/>09.9 <span class=\"_ _147\"> </span>- 99.9 <span class=\"_ _19\"> </span>- 2.9 <span class=\"_ _9d\"> </span>- 0.9 <span class=\"_ _1dc\"> </span>- 570.9 <span class=\"_ _1dc\"> </span>- 434.7 <span class=\"_ _10a\"> </span><span class=\"ff41\">- 31<span class=\"_ _3\"/>2.5 <span class=\"_ _27a\"> </span>- 27<span class=\"_ _3\"/>6.8 <span class=\"_ _1dc\"> </span>- 258.4 <span class=\"_ _37\"> </span>- 1<span class=\"_ _3\"/>57<span class=\"_ _1\"/>.9 </span>EBITD<span class=\"_ _7\"/>A 89.4 <span class=\"_ _21c\"> </span>71.4 <span class=\"_ _b\"> </span>529.6 <span class=\"_ _b\"> </span>483.3 <span class=\"_ _b\"> </span>166.6 <span class=\"_ _147\"> </span>167<span class=\"_ _8\"/>.5 <span class=\"_ _1a\"> </span>31<span class=\"_ _3\"/>.4 <span class=\"_ _21c\"> </span>33.3 <span class=\"_ _90\"> </span>317<span class=\"_ _1\"/>.7 <span class=\"_ _b\"> </span>358.6 <span class=\"_ _17\"> </span>- 1.9 <span class=\"_ _143\"> </span>- 0.9 <span class=\"_ _192\"> </span>1,132.8 <span class=\"_ _28\"> </span>1,1<span class=\"_ _9\"/>13.2 <span class=\"_ _232\"> </span><span class=\"ff19\">639.7 <span class=\"_ _b\"> </span>643.2 <span class=\"_ _232\"> </span>493.1 <span class=\"_ _b\"> </span>470.0 </span>Depreciation and amortization <span class=\"_ _19c\"> </span>- 28.8 <span class=\"_ _147\"> </span>- 20.4 <span class=\"_ _10a\"> </span>- 1<span class=\"_ _7\"/>95.3 <span class=\"_ _10a\"> </span>- 1<span class=\"_ _3\"/>58.7 <span class=\"_ _8f\"> </span>- 41<span class=\"_ _9\"/>.2 <span class=\"_ _147\"> </span>- 49.4 <span class=\"_ _8e\"> </span>- 1<span class=\"_ _7\"/>3.2 <span class=\"_ _8e\"> </span>- 1<span class=\"_ _7\"/>3.2 <span class=\"_ _147\"> </span>- 80.5 <span class=\"_ _8f\"> </span>- 91<span class=\"_ _9\"/>.4 <span class=\"_ _d2\"> </span>\u2013 <span class=\"_ _d2\"> </span>\u2013 <span class=\"_ _10b\"> </span>- 359.0 <span class=\"_ _1dc\"> </span>- 333.1 <span class=\"_ _10a\"> </span><span class=\"ff41\">- 1<span class=\"_ _7\"/>89.1 <span class=\"_ _37\"> </span>- 1<span class=\"_ _7\"/>87<span class=\"_ _1\"/>.1 <span class=\"_ _10a\"> </span>- 1<span class=\"_ _7\"/>69.9 <span class=\"_ _10a\"> </span>- 1<span class=\"_ _3\"/>46.0 </span>Impairment <span class=\"_ _1a6\"> </span>\u2013 <span class=\"_ _9d\"> </span>- 9.7 <span class=\"_ _d2\"> </span>\u2013 <span class=\"_ _9d\"> </span>- 2.1 <span class=\"_ _d2\"> </span>\u2013 <span class=\"_ _19\"> </span>- 0.5 <span class=\"_ _d2\"> </span>\u2013 <span class=\"_ _d2\"> </span>\u2013 <span class=\"_ _147\"> </span>- 80.9 <span class=\"_ _147\"> </span>- 29.0 <span class=\"_ _d2\"> </span>\u2013 <span class=\"_ _d2\"> </span>\u2013 <span class=\"_ _90\"> </span>- 80.9 <span class=\"_ _8f\"> </span>- 41<span class=\"_ _9\"/>.3 <span class=\"_ _16\"> </span><span class=\"ff41\">1<span class=\"_ _9\"/>1<span class=\"_ _9\"/>.6 <span class=\"_ _8f\"> </span>- 41<span class=\"_ _9\"/>.2 <span class=\"_ _147\"> </span>- 92.5 <span class=\"_ _9d\"> </span>- 0.1 </span>Operating pr<span class=\"_ _7\"/>ofit (EBIT) 60.6 <span class=\"_ _21c\"> </span>41.3 <span class=\"_ _b\"> </span>334.3 <span class=\"_ _b\"> </span>322.5 <span class=\"_ _b\"> </span>125.4 <span class=\"_ _8f\"> </span>1<span class=\"_ _9\"/>17<span class=\"_ _1\"/>.6 <span class=\"_ _21c\"> </span>18.2 <span class=\"_ _17\"> </span>20.1 <span class=\"_ _b\"> </span>156.3 <span class=\"_ _b\"> </span>238.2 <span class=\"_ _17\"> </span>- 1.9 <span class=\"_ _143\"> </span>- 0.9 <span class=\"_ _b\"> </span>692.9 <span class=\"_ _232\"> </span>738.8 <span class=\"_ _b\"> </span><span class=\"ff19\">462.2 <span class=\"_ _232\"> </span>414.9 <span class=\"_ _b\"> </span>230.7 <span class=\"_ _b\"> </span>323.9 </span>Net finance costs <span class=\"_ _258\"> </span>- 1<span class=\"_ _3\"/>7<span class=\"_ _1\"/>.1 <span class=\"_ _8e\"> </span>- 1<span class=\"_ _7\"/>2.9 <span class=\"_ _147\"> </span>- 78.7 <span class=\"_ _142\"> </span>- 47<span class=\"_ _1\"/>.6 <span class=\"_ _8e\"> </span>- 1<span class=\"_ _7\"/>0.2 <span class=\"_ _9d\"> </span>- 9.1 <span class=\"_ _19\"> </span>- 4.9 <span class=\"_ _9d\"> </span>- 5.6 <span class=\"_ _90\"> </span>- 70.2 <span class=\"_ _147\"> </span>- 65.5 <span class=\"_ _d2\"> </span>\u2013 <span class=\"_ _d2\"> </span>\u2013 <span class=\"_ _fe\"> </span>- 181<span class=\"_ _9\"/>.1 <span class=\"_ _1dc\"> </span>- 140.7 <span class=\"_ _147\"> </span><span class=\"ff41\">- 78.4 <span class=\"_ _147\"> </span>- 52.3 <span class=\"_ _10a\"> </span>- 1<span class=\"_ _3\"/>02.7 <span class=\"_ _147\"> </span>- 88.4 </span>Income tax <span class=\"_ _28a\"> </span>- 0.1 <span class=\"_ _9d\"> </span>- 0.2 <span class=\"_ _289\"> </span>- 1<span class=\"_ _3\"/>0.1 <span class=\"_ _147\"> </span>- 20.8 <span class=\"_ _90\"> </span>- 25.3 <span class=\"_ _90\"> </span>- 16.6 <span class=\"_ _9d\"> </span>- 2.4 <span class=\"_ _9d\"> </span>- 2.7 <span class=\"_ _147\"> </span>- 34.9 <span class=\"_ _90\"> </span>- 62.1 <span class=\"_ _d2\"> </span>\u2013 <span class=\"_ _d2\"> </span>\u2013 <span class=\"_ _147\"> </span>- 72.8 <span class=\"_ _27a\"> </span>- 1<span class=\"_ _9\"/>02.4 <span class=\"_ _90\"> </span><span class=\"ff41\">- 72.0 <span class=\"_ _147\"> </span>- 78.5 <span class=\"_ _19\"> </span>- 0.8 <span class=\"_ _147\"> </span>- 23.9 </span>Net profit 43.4 <span class=\"_ _17\"> </span>28.2 <span class=\"_ _b\"> </span>245.5 <span class=\"_ _232\"> </span>254.1 <span class=\"_ _17\"> </span>89.9 <span class=\"_ _1a\"> </span>91<span class=\"_ _3\"/>.9 <span class=\"_ _1a\"> </span>1<span class=\"_ _7\"/>0.9 <span class=\"_ _19\"> </span>1<span class=\"_ _9\"/>1<span class=\"_ _7\"/>.8 <span class=\"_ _1a\"> </span>51<span class=\"_ _3\"/>.2 <span class=\"_ _147\"> </span>1<span class=\"_ _3\"/>1<span class=\"_ _3\"/>0.6 <span class=\"_ _21c\"> </span>- 1<span class=\"_ _3\"/>.9 <span class=\"_ _120\"> </span>- 0.9 <span class=\"_ _232\"> </span>439.0 <span class=\"_ _b\"> </span>495.7 <span class=\"_ _147\"> </span><span class=\"ff19\">31<span class=\"_ _9\"/>1.8 <span class=\"_ _b\"> </span>284.1 <span class=\"_ _147\"> </span>127<span class=\"_ _1\"/>.2 <span class=\"_ _147\"> </span>21<span class=\"_ _9\"/>1.6 </span>Other comprehensive income <span class=\"_ _88\"> </span>42.8 <span class=\"_ _b2\"> </span>- 7<span class=\"_ _1\"/>.4 <span class=\"_ _b2\"> </span>87<span class=\"_ _8\"/>.1 <span class=\"_ _9d\"> </span>44.2 <span class=\"_ _d2\"> </span>\u2013 <span class=\"_ _d2\"> </span>\u2013 <span class=\"_ _d2\"> </span>\u2013 <span class=\"_ _d2\"> </span>\u2013 <span class=\"_ _19\"> </span>46.5 <span class=\"_ _9d\"> </span>22.9 <span class=\"_ _d2\"> </span>\u2013 <span class=\"_ _d2\"> </span>\u2013 <span class=\"_ _8f\"> </span>1<span class=\"_ _7\"/>7<span class=\"_ _3\"/>6.4 <span class=\"_ _19\"> </span>59.7 <span class=\"_ _9d\"> </span><span class=\"ff41\">93.5 <span class=\"_ _1b\"> </span>1<span class=\"_ _7\"/>9.9 <span class=\"_ _9d\"> </span>82.9 <span class=\"_ _19\"> </span>39.8 </span>T<span class=\"_ _8\"/>otal comprehensiv<span class=\"_ _7\"/>e income <span class=\"_ _83\"> </span><span class=\"fc0\">86.2 <span class=\"_ _17\"> </span></span>20.8 <span class=\"_ _b\"> </span><span class=\"fc0\">332.6 <span class=\"_ _b\"> </span></span>298.3 <span class=\"_ _21c\"> </span><span class=\"fc0\">89.9 <span class=\"_ _21c\"> </span></span>91<span class=\"_ _7\"/>.9 <span class=\"_ _1a\"> </span>1<span class=\"_ _3\"/>0.9 <span class=\"_ _19\"> </span>1<span class=\"_ _3\"/>1<span class=\"_ _7\"/>.8 <span class=\"_ _19\"> </span>97<span class=\"_ _8\"/>.7 <span class=\"_ _b\"> </span><span class=\"fcb\">133.5 <span class=\"_ _17\"> </span></span>- 1.9 <span class=\"_ _143\"> </span><span class=\"fcb\">- 0.9 <span class=\"_ _b\"> </span></span>615.4 <span class=\"_ _232\"> </span><span class=\"fcb\">555.4 <span class=\"_ _b\"> </span></span><span class=\"ff19\">405.3 <span class=\"_ _232\"> </span><span class=\"fcb\">304.0 <span class=\"_ _13c\"> </span></span>21<span class=\"_ _3\"/>0.1 <span class=\"_ _13c\"> </span><span class=\"fcb\">251<span class=\"_ _7\"/>.4 </span></span>V<span class=\"_ _3\"/>opak's share of net profit <span class=\"_ _1ad\"> </span>1<span class=\"_ _3\"/>4.5 <span class=\"_ _3a\"> </span>7<span class=\"_ _8\"/>.2 <span class=\"_ _9d\"> </span>79.0 <span class=\"_ _19\"> </span>86.1 <span class=\"_ _9d\"> </span>40.2 <span class=\"_ _19\"> </span>38.9 <span class=\"_ _22c\"> </span>3.0 <span class=\"_ _155\"> </span>4.0 <span class=\"_ _9d\"> </span>26.5 <span class=\"_ _19\"> </span>36.5 <span class=\"_ _9d\"> </span>- 0.9 <span class=\"_ _19\"> </span>- 0.4 <span class=\"_ _90\"> </span>162.3 <span class=\"_ _90\"> </span>1<span class=\"_ _7\"/>72.3 <span class=\"_ _8e\"> </span><span class=\"ff41\">1<span class=\"_ _7\"/>43.0 <span class=\"_ _8f\"> </span>1<span class=\"_ _9\"/>13.1 <span class=\"_ _19\"> </span>1<span class=\"_ _7\"/>9.3 <span class=\"_ _19\"> </span>59.2 </span>V<span class=\"_ _3\"/>opak's share of other comprehensive income <span class=\"_ _5c\"> </span>21<span class=\"_ _8\"/>.4 <span class=\"_ _19\"> </span>- 3.7 <span class=\"_ _9d\"> </span>24.0 <span class=\"_ _1b\"> </span>1<span class=\"_ _7\"/>2.5 <span class=\"_ _d2\"> </span>\u2013 <span class=\"_ _d2\"> </span>\u2013 <span class=\"_ _d2\"> </span>\u2013 <span class=\"_ _d2\"> </span>\u2013 <span class=\"_ _9d\"> </span>23.2 <span class=\"_ _11\"> </span>1<span class=\"_ _9\"/>1<span class=\"_ _9\"/>.4 <span class=\"_ _d2\"> </span>\u2013 <span class=\"_ _d2\"> </span>\u2013 <span class=\"_ _9d\"> </span>68.6 <span class=\"_ _19\"> </span>20.2 <span class=\"_ _9d\"> </span><span class=\"ff41\">46.6 <span class=\"_ _155\"> </span>9.7 <span class=\"_ _9d\"> </span>22.0 <span class=\"_ _1b\"> </span>1<span class=\"_ _7\"/>0.5 </span>V<span class=\"_ _9\"/>opak's share of total comprehensiv<span class=\"_ _7\"/>e income <span class=\"_ _173\"> </span><span class=\"fc0\">35.9 <span class=\"_ _60\"> </span></span>3.5 <span class=\"_ _232\"> </span><span class=\"fc0\">103.0 <span class=\"_ _120\"> </span></span>98.6 <span class=\"_ _17\"> </span><span class=\"fc0\">40.2 <span class=\"_ _21c\"> </span></span>38.9 <span class=\"_ _60\"> </span><span class=\"fc0\">3.0 <span class=\"_ _60\"> </span></span>4.0 <span class=\"_ _17\"> </span><span class=\"fc0\">49.7 <span class=\"_ _19\"> </span></span>47<span class=\"_ _8\"/>.9 <span class=\"_ _120\"> </span><span class=\"fc0\">- 0.9 <span class=\"_ _120\"> </span></span>- 0.4 <span class=\"_ _b\"> </span><span class=\"fc0\">230.9 <span class=\"_ _232\"> </span></span>192.5 <span class=\"_ _232\"> </span><span class=\"ff19 fc0\">189.6 <span class=\"_ _b\"> </span><span class=\"fcb\">122.8 <span class=\"_ _21c\"> </span></span>41.3 <span class=\"_ _120\"> </span><span class=\"fcb\">69.7 </span></span>Summar<span class=\"_ _3\"/>ized statement of financial position at 31 December T<span class=\"_ _8\"/>otal joint Asia &amp;   China &amp; New Energ<span class=\"_ _7\"/>y vent<span class=\"_ _7\"/>ures and of whic<span class=\"_ _7\"/>h  joint of whic<span class=\"_ _7\"/>h  Amer<span class=\"_ _7\"/>icas Middle East North Asia <span class=\"_ _26\"> </span>Europe <span class=\"_ _5\"/>&amp; Africa &amp; LNG <span class=\"_ _1bb\"> </span>Other associates vent<span class=\"_ _7\"/>ures associates In EUR millions <span class=\"_ _19e\"> </span>2022 <span class=\"_ _289\"> </span><span class=\"fc7\">2021 <span class=\"_ _289\"> </span></span>2022 <span class=\"_ _289\"> </span><span class=\"fc7\">2021 <span class=\"_ _8f\"> </span></span>2022 <span class=\"_ _289\"> </span><span class=\"fc7\">2021 <span class=\"_ _289\"> </span></span>2022 <span class=\"_ _289\"> </span><span class=\"fc7\">2021 <span class=\"_ _8f\"> </span></span>2022 <span class=\"_ _289\"> </span><span class=\"fc7\">2021 <span class=\"_ _289\"> </span></span>2022 <span class=\"_ _289\"> </span><span class=\"fc7\">2021 <span class=\"_ _8f\"> </span></span>2022 <span class=\"_ _289\"> </span><span class=\"fc7\">2021 <span class=\"_ _289\"> </span></span>2022 <span class=\"_ _8f\"> </span><span class=\"fc7\">2021 <span class=\"_ _289\"> </span></span>2022 <span class=\"_ _289\"> </span>2021 Non-current assets <span class=\"_ _165\"> </span>1,205.0 <span class=\"_ _e7\"> </span>1,1<span class=\"_ _7\"/>30.6 <span class=\"_ _e7\"> </span>3,555.8 <span class=\"_ _13\"> </span>2,771<span class=\"_ _9\"/>.0 <span class=\"_ _1dc\"> </span>1,1<span class=\"_ _3\"/>0<span class=\"_ _3\"/>1<span class=\"_ _9\"/>.9 <span class=\"_ _1d\"> </span>1,000.8 <span class=\"_ _90\"> </span>205.4 <span class=\"_ _147\"> </span>209.9 <span class=\"_ _e7\"> </span>1,858.2 <span class=\"_ _e7\"> </span>1,984.8 <span class=\"_ _22c\"> </span>0.5 <span class=\"_ _155\"> </span>0.2 <span class=\"_ _12\"> </span>7<span class=\"_ _8\"/>,926.8 <span class=\"_ _27a\"> </span>7<span class=\"_ _1\"/>,097<span class=\"_ _1\"/>.3 <span class=\"_ _e7\"> </span><span class=\"ff41\">4,683.2 <span class=\"_ _10b\"> </span>3,977<span class=\"_ _1\"/>.2 <span class=\"_ _e7\"> </span>3,243.6 <span class=\"_ _18\"> </span>3,1<span class=\"_ _7\"/>20.1 </span>Cash and cash equivalents <span class=\"_ _161\"> </span>1<span class=\"_ _9\"/>7<span class=\"_ _8\"/>.2 <span class=\"_ _19\"> </span>18.6 <span class=\"_ _147\"> </span>388.0 <span class=\"_ _90\"> </span>319.2 <span class=\"_ _8f\"> </span>1<span class=\"_ _7\"/>91<span class=\"_ _9\"/>.9 <span class=\"_ _90\"> </span>146.2 <span class=\"_ _19\"> </span>1<span class=\"_ _7\"/>0.7 <span class=\"_ _1b\"> </span>1<span class=\"_ _7\"/>0.6 <span class=\"_ _90\"> </span>163.4 <span class=\"_ _90\"> </span>1<span class=\"_ _7\"/>39.4 <span class=\"_ _22c\"> </span>0.5 <span class=\"_ _aa\"> </span>1<span class=\"_ _9\"/>.0 <span class=\"_ _8f\"> </span>771<span class=\"_ _8\"/>.7 <span class=\"_ _90\"> </span>635.0 <span class=\"_ _147\"> </span><span class=\"ff41\">366.7 <span class=\"_ _147\"> </span>308.4 <span class=\"_ _90\"> </span>405.0 <span class=\"_ _147\"> </span>326.6 </span>Other current assets <span class=\"_ _135\"> </span>57<span class=\"_ _d\"/>.9 <span class=\"_ _19\"> </span>50.2 <span class=\"_ _90\"> </span>194.9 <span class=\"_ _147\"> </span>222.8 <span class=\"_ _9d\"> </span>48.9 <span class=\"_ _14\"> </span>51<span class=\"_ _9\"/>.1 <span class=\"_ _1b\"> </span>1<span class=\"_ _3\"/>0.0 <span class=\"_ _11\"> </span>1<span class=\"_ _7\"/>7<span class=\"_ _1\"/>.3 <span class=\"_ _9d\"> </span>85.2 <span class=\"_ _289\"> </span>1<span class=\"_ _3\"/>04.1 <span class=\"_ _155\"> </span>0.6 <span class=\"_ _22c\"> </span>0.9 <span class=\"_ _116\"> </span>397<span class=\"_ _1\"/>.5 <span class=\"_ _90\"> </span>446.4 <span class=\"_ _8e\"> </span><span class=\"ff41\">1<span class=\"_ _7\"/>94.1 <span class=\"_ _90\"> </span>169.1 <span class=\"_ _147\"> </span>203.4 <span class=\"_ _116\"> </span>277<span class=\"_ _1\"/>.3 </span>T<span class=\"_ _8\"/>otal assets 1280.1 <span class=\"_ _192\"> </span>1,199.4 <span class=\"_ _192\"> </span>4,138.7 <span class=\"_ _192\"> </span>3,313.0 <span class=\"_ _192\"> </span>1,342.7 <span class=\"_ _192\"> </span>1,198.1 <span class=\"_ _b\"> </span>226.1 <span class=\"_ _147\"> </span>237<span class=\"_ _8\"/>.8 <span class=\"_ _b3\"> </span>2,1<span class=\"_ _7\"/>06.8 <span class=\"_ _192\"> </span>2,228.3 <span class=\"_ _ad\"> </span>1.6 <span class=\"_ _27\"> </span>2.1 <span class=\"_ _192\"> </span>9,096.0 <span class=\"_ _b3\"> </span>8,1<span class=\"_ _7\"/>78.7 <span class=\"_ _192\"> </span><span class=\"ff19\">5,244.0 <span class=\"_ _192\"> </span>4,454.7 <span class=\"_ _192\"> </span>3,852.0 <span class=\"_ _192\"> </span>3,724.0 </span>Financial non-current liabilities <span class=\"_ _1b2\"> </span>386.7 <span class=\"_ _147\"> </span>363.1 <span class=\"_ _e7\"> </span>1,539.4 <span class=\"_ _15\"> </span>1,47<span class=\"_ _3\"/>6.0 <span class=\"_ _147\"> </span>322.2 <span class=\"_ _8e\"> </span>319.2 <span class=\"_ _147\"> </span>136.0 <span class=\"_ _90\"> </span>1<span class=\"_ _7\"/>49.6 <span class=\"_ _147\"> </span>922.3 <span class=\"_ _90\"> </span>989.3 <span class=\"_ _d2\"> </span>\u2013 <span class=\"_ _d2\"> </span>\u2013 <span class=\"_ _e7\"> </span>3,306.6 <span class=\"_ _12\"> </span>3,297<span class=\"_ _1\"/>.2 <span class=\"_ _e7\"> </span><span class=\"ff41\">1,583.1 <span class=\"_ _e7\"> </span>1,470.7 <span class=\"_ _e7\"> </span>1,723.5 <span class=\"_ _e7\"> </span>1,826.5 </span>Other non-current liabilities <span class=\"_ _161\"> </span>2.3 <span class=\"_ _155\"> </span>9.1 <span class=\"_ _8e\"> </span>1<span class=\"_ _3\"/>08.5 <span class=\"_ _8e\"> </span>154.2 <span class=\"_ _9d\"> </span>28.6 <span class=\"_ _9d\"> </span>25.5 <span class=\"_ _1b\"> </span>1<span class=\"_ _7\"/>2.7 <span class=\"_ _1b\"> </span>1<span class=\"_ _7\"/>3.8 <span class=\"_ _90\"> </span>183.0 <span class=\"_ _147\"> </span>250.8 <span class=\"_ _d2\"> </span>\u2013 <span class=\"_ _d2\"> </span>\u2013 <span class=\"_ _147\"> </span>335.1 <span class=\"_ _147\"> </span>453.4 <span class=\"_ _8e\"> </span><span class=\"ff41\">1<span class=\"_ _7\"/>36.7 <span class=\"_ _147\"> </span>205.4 <span class=\"_ _8e\"> </span>1<span class=\"_ _7\"/>98.4 <span class=\"_ _147\"> </span>248.0 </span>Financial current liabilities <span class=\"_ _f6\"> </span>1<span class=\"_ _7\"/>4.2 <span class=\"_ _19\"> </span>16.6 <span class=\"_ _147\"> </span>484.4 <span class=\"_ _90\"> </span>164.4 <span class=\"_ _233\"> </span>31<span class=\"_ _9\"/>.8 <span class=\"_ _19\"> </span>12.9 <span class=\"_ _19\"> </span>1<span class=\"_ _7\"/>5.6 <span class=\"_ _11\"> </span>1<span class=\"_ _3\"/>7<span class=\"_ _1\"/>.6 <span class=\"_ _8e\"> </span>138.6 <span class=\"_ _90\"> </span>1<span class=\"_ _7\"/>25.6 <span class=\"_ _d2\"> </span>\u2013 <span class=\"_ _d2\"> </span>\u2013 <span class=\"_ _147\"> </span>684.6 <span class=\"_ _116\"> </span>337<span class=\"_ _8\"/>.1 <span class=\"_ _8f\"> </span><span class=\"ff41\">461<span class=\"_ _8\"/>.3 <span class=\"_ _8e\"> </span>150.0 <span class=\"_ _147\"> </span>223.3 <span class=\"_ _116\"> </span>187<span class=\"_ _1\"/>.1 </span>Other current liabilities <span class=\"_ _166\"> </span>46.5 <span class=\"_ _16\"> </span>47<span class=\"_ _1\"/>.8 <span class=\"_ _8e\"> </span>21<span class=\"_ _7\"/>3.4 <span class=\"_ _8e\"> </span>1<span class=\"_ _3\"/>70.6 <span class=\"_ _8e\"> </span>139.1 <span class=\"_ _9d\"> </span>92.9 <span class=\"_ _9d\"> </span>20.5 <span class=\"_ _1b\"> </span>1<span class=\"_ _7\"/>3.9 <span class=\"_ _9d\"> </span>75.7 <span class=\"_ _19\"> </span>62.6 <span class=\"_ _156\"> </span>1<span class=\"_ _9\"/>.0 <span class=\"_ _155\"> </span>0.2 <span class=\"_ _147\"> </span>496.2 <span class=\"_ _147\"> </span>388.0 <span class=\"_ _116\"> </span><span class=\"ff41\">277<span class=\"_ _1\"/>.7 <span class=\"_ _90\"> </span>234.2 <span class=\"_ _90\"> </span>218.5 <span class=\"_ _90\"> </span>1<span class=\"_ _7\"/>53.8 </span>T<span class=\"_ _8\"/>otal liabilities 449.7 <span class=\"_ _b\"> </span>436.6 <span class=\"_ _192\"> </span>2,345.7 <span class=\"_ _192\"> </span>1,965.2 <span class=\"_ _13c\"> </span>521<span class=\"_ _7\"/>.7 <span class=\"_ _b\"> </span>450.5 <span class=\"_ _232\"> </span>184.8 <span class=\"_ _232\"> </span>194.9 <span class=\"_ _192\"> </span>1,319.6 <span class=\"_ _117\"> </span>1,428.3 <span class=\"_ _ad\"> </span>1.0 <span class=\"_ _27\"> </span>0.2 <span class=\"_ _192\"> </span>4,822.5 <span class=\"_ _192\"> </span>4,475.7 <span class=\"_ _192\"> </span><span class=\"ff19\">2,458.8 <span class=\"_ _192\"> </span>2,060.3 <span class=\"_ _192\"> </span>2,363.7 <span class=\"_ _192\"> </span>2,415.4 </span>Net assets <span class=\"_ _28a\"> </span><span class=\"fc0\">830.4 <span class=\"_ _232\"> </span></span>762.8 <span class=\"_ _117\"> </span><span class=\"fc0\">1,793.0 <span class=\"_ _1d\"> </span></span>1,347<span class=\"_ _1\"/>.8 <span class=\"_ _13c\"> </span><span class=\"fc0\">821.0 <span class=\"_ _90\"> </span></span>7<span class=\"_ _3\"/>47<span class=\"_ _8\"/>.6 <span class=\"_ _1a\"> </span>41<span class=\"_ _7\"/>.3 <span class=\"_ _17\"> </span><span class=\"fcb\">42.9 <span class=\"_ _147\"> </span></span>787<span class=\"_ _8\"/>.2 <span class=\"_ _b\"> </span><span class=\"fcb\">80<span class=\"_ _5\"/>0.0 <span class=\"_ _60\"> </span></span>0.6 <span class=\"_ _ad\"> </span>1<span class=\"_ _3\"/>.9 <span class=\"_ _192\"> </span><span class=\"fc0\">4,273.5 <span class=\"_ _192\"> </span></span>3,703.0 <span class=\"_ _192\"> </span><span class=\"ff19 fc0\">2,785.2 <span class=\"_ _192\"> </span><span class=\"fcb\">2,394.4 <span class=\"_ _192\"> </span></span>1,488.3 <span class=\"_ _192\"> </span><span class=\"fcb\">1,308.6 </span></span>V<span class=\"_ _3\"/>opak's share of net assets <span class=\"_ _81\"> </span>289.0 <span class=\"_ _142\"> </span>257<span class=\"_ _1\"/>.9 <span class=\"_ _147\"> </span>623.4 <span class=\"_ _8f\"> </span>481<span class=\"_ _9\"/>.1 <span class=\"_ _147\"> </span>360.3 <span class=\"_ _147\"> </span>336.5 <span class=\"_ _1b\"> </span>1<span class=\"_ _7\"/>9.1 <span class=\"_ _9d\"> </span>20.0 <span class=\"_ _90\"> </span>405.4 <span class=\"_ _147\"> </span>408.7 <span class=\"_ _155\"> </span>0.2 <span class=\"_ _22c\"> </span>0.9 <span class=\"_ _10b\"> </span>1,697<span class=\"_ _d\"/>.4 <span class=\"_ _e7\"> </span>1,505.1 <span class=\"_ _e7\"> </span><span class=\"ff41\">1,273.1 <span class=\"_ _e7\"> </span>1,098.2 <span class=\"_ _147\"> </span>424.3 <span class=\"_ _147\"> </span>406.9 </span>Goodwill on acquisition <span class=\"_ _16d\"> </span>36.6 <span class=\"_ _19\"> </span>34.4 <span class=\"_ _8e\"> </span>1<span class=\"_ _7\"/>05.4 <span class=\"_ _22c\"> </span>5.5 <span class=\"_ _155\"> </span>6.7 <span class=\"_ _22c\"> </span>6.9 <span class=\"_ _d2\"> </span>\u2013 <span class=\"_ _d2\"> </span>\u2013 <span class=\"_ _14\"> </span>31<span class=\"_ _9\"/>.7 <span class=\"_ _14\"> </span>31<span class=\"_ _9\"/>.4 <span class=\"_ _d2\"> </span>\u2013 <span class=\"_ _d2\"> </span>\u2013 <span class=\"_ _90\"> </span>180.4 <span class=\"_ _9d\"> </span>78.2 <span class=\"_ _90\"> </span><span class=\"ff41\">163.4 <span class=\"_ _b2\"> </span>67<span class=\"_ _d\"/>.3 <span class=\"_ _11\"> </span>1<span class=\"_ _7\"/>7<span class=\"_ _1\"/>.0 <span class=\"_ _1b\"> </span>1<span class=\"_ _7\"/>0.9 </span>V<span class=\"_ _9\"/>opak's carrying amount   of net assets <span class=\"_ _18c\"> </span><span class=\"fc0\">325.6 <span class=\"_ _232\"> </span></span>292.3 <span class=\"_ _b\"> </span><span class=\"fc0\">728.8 <span class=\"_ _232\"> </span></span>486.6 <span class=\"_ _147\"> </span>367<span class=\"_ _8\"/>.0 <span class=\"_ _b\"> </span><span class=\"fcb\">343.4 <span class=\"_ _21c\"> </span></span>19.1 <span class=\"_ _17\"> </span><span class=\"fcb\">20.0 <span class=\"_ _147\"> </span></span>437<span class=\"_ _8\"/>.1 <span class=\"_ _b\"> </span><span class=\"fcb\">440.1 <span class=\"_ _60\"> </span></span>0.2 <span class=\"_ _60\"> </span><span class=\"fcb\">0.9 <span class=\"_ _1d\"> </span></span>1,877<span class=\"_ _1\"/>.8 <span class=\"_ _192\"> </span><span class=\"fcb\">1,583.3 <span class=\"_ _192\"> </span></span><span class=\"ff19\">1,436.5 <span class=\"_ _192\"> </span><span class=\"fcb\">1,165.5 <span class=\"_ _13c\"> </span></span>441.3 <span class=\"_ _147\"> </span><span class=\"fcb\">417<span class=\"_ _1\"/>.8 </span></span>Intangible assets - Goodwill A summar<span class=\"_ _5\"/>y of the carr<span class=\"_ _5\"/>ying amount of goodwill b<span class=\"_ _7\"/>y geographical area, whic<span class=\"_ _7\"/>h is equal to the operating segments, is presented below<span class=\"_ _9\"/>. An operating segment is also the le<span class=\"_ _7\"/>vel at whic<span class=\"_ _3\"/>h goodwill is tested for impairment. In EUR millions <span class=\"_ _12a\"> </span>2022 <span class=\"_ _7f\"> </span>2021China &amp; North A<span class=\"_ _7\"/>sia <span class=\"_ _28e\"> </span>4.7 <span class=\"_ _db\"> </span>4.4 Europe &amp; Africa <span class=\"_ _20c\"> </span><span class=\"ws3\">1<span class=\"_ _9\"/>.8 <span class=\"_ _113\"> </span>1<span class=\"_ _9\"/>.8 </span>Car<span class=\"_ _7\"/>rying amount at 31 December <span class=\"_ _28c\"> </span><span class=\"fc0\">6.5 <span class=\"_ _41\"> </span></span>6.2 ",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfEntitysReportableSegmentsExplanatory",
    "language": "en",
    "entity": "scheme:724500UL634GFV1KYF10",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
   }
  },
  "pp-value-28-4": {
   "value": "Note 2.1 Segment inf<span class=\"_ _3\"/>ormation A<span class=\"_ _1e\"> </span><span class=\"ff3 fs9\">Accounting policies </span>The accounting policies of the reportable segments are the same as the Group\u2019<span class=\"_ _9\"/>s accounting policies described throughout the notes when relev<span class=\"_ _7\"/>ant. Reportable segments Operating segments are reported in a manner consistent with the internal reporting provided to the Executiv<span class=\"_ _7\"/>e Board, whic<span class=\"_ _3\"/>h is the c<span class=\"_ _7\"/>hief operating decision maker<span class=\"_ _9\"/>. <span class=\"_ _9\"/>The division str<span class=\"_ _3\"/>ucture is primarily based on geographical markets. Business activities that cannot be allocated to an<span class=\"_ _7\"/>y other segment are reported under \u2018Global functions and corporate activities<span class=\"_ _7\"/>\u2019<span class=\"_ _9\"/>. <span class=\"_ _9\"/>T<span class=\"_ _7\"/>hese include primarily the head of<span class=\"_ _7\"/>fice costs, the Global IT costs and e<span class=\"_ _7\"/>xpenses related to other interests. V<span class=\"_ _3\"/>opak\u2019<span class=\"_ _9\"/>s five divisions are <span class=\"_ _7\"/>Americas, A<span class=\"_ _7\"/>sia &amp; Middle East, China &amp; North A<span class=\"_ _7\"/>sia, Europe &amp; Africa and New Energy &amp; LNG.  The EBI<span class=\"_ _7\"/>TD<span class=\"_ _3\"/>A and Group operating profit of the divisions include the net eff<span class=\"_ _3\"/>ects of the company<span class=\"_ _7\"/>-wide cost allocations. Costs that cannot be allocated to the divisions are part of the \u2018Global functions and corporate activities<span class=\"_ _7\"/>\u2019<span class=\"_ _9\"/>. <span class=\"_ _9\"/>T<span class=\"_ _7\"/>he actual allocated costs can dif<span class=\"_ _3\"/>fer per reporting period. ",
   "dimensions": {
    "concept": "ifrs-full:DescriptionOfAccountingPolicyForSegmentReportingExplanatory",
    "language": "en",
    "entity": "scheme:724500UL634GFV1KYF10",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
   }
  },
  "pp-value-31-3": {
   "value": "Note 2.2 Exceptional items  A Group policy The items in the statement of income include items that are exceptional by nature from a management perspective based on their size and/or nature. For the definition of exceptional items applied by the company, reference is made to the Glossary. The material exceptional items are disclosed separately in the notes when relevant in order to increase transparency. ",
   "dimensions": {
    "concept": "ifrs-full:DescriptionOfAccountingPolicyForExceptionalItemsExplanatory",
    "language": "en",
    "entity": "scheme:724500UL634GFV1KYF10",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
   }
  },
  "pp-value-34-2": {
   "value": "Note 2.3 Rev<span class=\"_ _3\"/>enues The Group operates bulk liquids and gas storage terminals in k<span class=\"_ _7\"/>ey strategic ports. <span class=\"_ _8\"/>The Group owns and operates specializ<span class=\"_ _7\"/>ed facilities including tanks, jet<span class=\"_ _3\"/>ties, truc<span class=\"_ _3\"/>k loading st<span class=\"_ _5\"/>ations and pipelines. In many instances, the Group stores the customers\u00b4 products for e<span class=\"_ _7\"/>xtended periods at the terminals, of<span class=\"_ _3\"/>ten under strict specified conditions such as controlled temperat<span class=\"_ _3\"/>ures. The Group also blends components according to customer specifications.  The Group ensures saf<span class=\"_ _3\"/>e, clean and ef<span class=\"_ _7\"/>ficient storage and handling of bulk liquid products and gases for its customers. By doing so, the Group enables the deliv<span class=\"_ _7\"/>er<span class=\"_ _5\"/>y of vital products, ranging from c<span class=\"_ _3\"/>hemicals, oil, gases and LNG to biofuels and vegoils. A<span class=\"_ _1e\"> </span><span class=\"ff3 fs9\">Accounting policies </span>Re<span class=\"_ _7\"/>venue from contracts with customers is recogniz<span class=\"_ _7\"/>ed when control of the goods or ser<span class=\"_ _5\"/>vices are transf<span class=\"_ _7\"/>erred to the customer at an amount that reflects the consideration to whic<span class=\"_ _3\"/>h the Group expects to be entitled in e<span class=\"_ _7\"/>xc<span class=\"_ _3\"/>hange for those services or goods. Rev<span class=\"_ _7\"/>enues ex<span class=\"_ _7\"/>cludes amounts collected on behalf of third parties and are net of discounts and value added taxes. Monthly storage rates and prices for other services are contractually agreed before the ser<span class=\"_ _5\"/>vices are rendered and do not contain material variable components. <span class=\"_ _3\"/>When it is probable that the Group will collect the consideration to whic<span class=\"_ _3\"/>h it will be entitled, the recognition in the statement of income is in proportion to the st<span class=\"_ _5\"/>age of the rendered performance as at the end of the reporting period.  The Group has a right to a consideration from a customer in an amount that cor<span class=\"_ _7\"/>responds directly with the value to the customer of the entity\u2019<span class=\"_ _9\"/>s ser<span class=\"_ _5\"/>vices completed to date. <span class=\"_ _9\"/>T<span class=\"_ _9\"/>ank storage rentals, including minimum guaranteed throughputs, are recognized ev<span class=\"_ _7\"/>enly ov<span class=\"_ _7\"/>er the contractual period during whic<span class=\"_ _3\"/>h the ser<span class=\"_ _5\"/>vices are rendered. Re<span class=\"_ _7\"/>venues from e<span class=\"_ _7\"/>xcess throughputs, heating/cooling, homogenization, product movements and other services are recognized when these services are rendered. Customers simult<span class=\"_ _5\"/>aneously consume and benefit from the ser<span class=\"_ _5\"/>vices at the moment that these are rendered, resulting in a situation where rev<span class=\"_ _7\"/>enue is recognized o<span class=\"_ _7\"/>ver time. Modifications of property<span class=\"_ _3\"/>, plant and equipment upfront paid by customers are accounted f<span class=\"_ _7\"/>or as prepaid rev<span class=\"_ _7\"/>enues and recognized in the statement of income over the contract<span class=\"_ _7\"/>ual period on a straight-line basis.  Storage f<span class=\"_ _7\"/>ees are mostly inv<span class=\"_ _7\"/>oiced upfront in the month preceding the month to whic<span class=\"_ _7\"/>h the storage f<span class=\"_ _7\"/>ees relate. Handling and other ser<span class=\"_ _5\"/>vices are generally inv<span class=\"_ _7\"/>oiced af<span class=\"_ _7\"/>ter<span class=\"_ _5\"/>wards, based  on the actual usage. In<span class=\"_ _7\"/>voices are generally paid b<span class=\"_ _7\"/>y customers at relatively short notice in agreement with the payment terms of the contracts. Within the revenue related to storage and handling services, the following categorization is made: \u2022 <span class=\"_ _19f\"> </span><span class=\"ff3 fc1\">Stor<span class=\"_ _7\"/>age services:<span class=\"ff1\"> relates to re<span class=\"_ _7\"/>venues from renting of storage capacity </span></span>\u2022 <span class=\"_ _19f\"> </span><span class=\"ff3 fc1\">Product mo<span class=\"_ _7\"/>vements:<span class=\"ff1\"> re<span class=\"_ _7\"/>venues related to product mo<span class=\"_ _7\"/>vements </span></span>\u2022 <span class=\"_ _19f\"> </span><span class=\"ff3 fc1\">Stor<span class=\"_ _7\"/>age and handling r<span class=\"_ _3\"/>elated services:<span class=\"ff1\"> relates to rev<span class=\"_ _7\"/>enues for storage and handling </span></span>related ser<span class=\"_ _5\"/>vices, suc<span class=\"_ _3\"/>h as blending<span class=\"_ _5\"/>, homogenization, temperature control. \u2022 <span class=\"_ _19f\"> </span><span class=\"ff3 fc1 ws3\">Other services:<span class=\"ff1\"> primarily relates to the agency ser<span class=\"_ _5\"/>vices that <span class=\"_ _3\"/>V<span class=\"_ _3\"/>opak provided to customers via </span></span>V<span class=\"_ _3\"/>opak A<span class=\"_ _3\"/>gencies up till the divestment of the <span class=\"_ _3\"/>V<span class=\"_ _3\"/>opak A<span class=\"_ _7\"/>gencies business in December 2022. The Group does not mak<span class=\"_ _7\"/>e any significant judgments with regards to re<span class=\"_ _7\"/>venue recognition, among others due to the nature of the business. Revenues The table below pro<span class=\"_ _7\"/>vides an ov<span class=\"_ _7\"/>er<span class=\"_ _5\"/>view of the re<span class=\"_ _7\"/>venue per type of ser<span class=\"_ _5\"/>vice that the Group provides to its customers. In EUR millions <span class=\"_ _12a\"> </span>2022 <span class=\"_ _7f\"> </span>2021 Storage ser<span class=\"_ _5\"/>vices <span class=\"_ _23f\"> </span>1,089.0 <span class=\"_ _e6\"> </span>986.5 Product mo<span class=\"_ _7\"/>vements <span class=\"_ _127\"> </span>1<span class=\"_ _3\"/>04.0 <span class=\"_ _46\"> </span><span class=\"ls8b ws15b\">101<span class=\"_ _7\"/>.<span class=\"_ _4\"/>8<span class=\"_ _5\"/> </span>Storage and handling related ser<span class=\"_ _5\"/>vices <span class=\"_ _1c8\"> </span>127<span class=\"_ _d\"/>.2 <span class=\"_ _45\"> </span>93.7 Other ser<span class=\"_ _5\"/>vices <span class=\"_ _240\"> </span>46.8 <span class=\"_ _45\"> </span>45.9 Revenues <span class=\"_ _224\"> </span><span class=\"fc0\">1,367<span class=\"_ _8\"/>.0 <span class=\"_ _15a\"> </span><span class=\"fcb\">1,227<span class=\"_ _8\"/>.9 </span></span>The table below pro<span class=\"_ _7\"/>vides an ov<span class=\"_ _7\"/>er<span class=\"_ _5\"/>view of the re<span class=\"_ _7\"/>venues per product type per report<span class=\"_ _5\"/>able segment (product-mark<span class=\"_ _7\"/>et combinations). Amer<span class=\"_ _7\"/>icas <span class=\"_ _bc\"> </span>Asia &amp; Middle East <span class=\"_ _8f\"> </span>China &amp; North <span class=\"_ _3\"/>Asia <span class=\"_ _27\"> </span><span class=\"ws42\">Europe <span class=\"_ _5\"/>&amp; Africa <span class=\"_ _49\"> </span></span>Other <span class=\"_ _3d\"> </span>T<span class=\"_ _9\"/>otal In EUR millions <span class=\"_ _22d\"> </span>2022 <span class=\"_ _38\"> </span><span class=\"fc7\">2021 <span class=\"_ _38\"> </span></span>2022 <span class=\"_ _155\"> </span><span class=\"fc7\">2021 <span class=\"_ _38\"> </span></span>2022 <span class=\"_ _38\"> </span><span class=\"fc7\">2021 <span class=\"_ _38\"> </span></span>2022 <span class=\"_ _155\"> </span><span class=\"fc7\">2021 <span class=\"_ _38\"> </span></span>2022 <span class=\"_ _38\"> </span><span class=\"fc7\">2021 <span class=\"_ _155\"> </span></span>2022 <span class=\"_ _38\"> </span>2021 Chemical products <span class=\"_ _57\"> </span>1<span class=\"_ _7\"/>90.1 <span class=\"_ _155\"> </span>1<span class=\"_ _3\"/>44.0 <span class=\"_ _39\"> </span>1<span class=\"_ _3\"/>47<span class=\"_ _1\"/>.6 <span class=\"_ _aa\"> </span>1<span class=\"_ _9\"/>1<span class=\"_ _7\"/>5.3 <span class=\"_ _bd\"> </span>50.8 <span class=\"_ _19a\"> </span>43.7 <span class=\"_ _155\"> </span>21<span class=\"_ _7\"/>5.8 <span class=\"_ _22c\"> </span>192.0 <span class=\"_ _4d\"> </span>\u2013 <span class=\"_ _4d\"> </span>\u2013 <span class=\"_ _22c\"> </span>604.3 <span class=\"_ _ad\"> </span>495.0 Oil products <span class=\"_ _241\"> </span>1<span class=\"_ _7\"/>39.3 <span class=\"_ _22c\"> </span>136.5 <span class=\"_ _3a\"> </span>1<span class=\"_ _3\"/>67<span class=\"_ _1\"/>.9 <span class=\"_ _155\"> </span>1<span class=\"_ _7\"/>48.5 <span class=\"_ _c9\"> </span>0.4 <span class=\"_ _95\"> </span>1<span class=\"_ _8\"/>.0 <span class=\"_ _ad\"> </span>249.7 <span class=\"_ _22c\"> </span>259.4 <span class=\"_ _4d\"> </span>\u2013 <span class=\"_ _228\"> </span>\u2013 <span class=\"_ _aa\"> </span>557<span class=\"_ _8\"/>.3 <span class=\"_ _ad\"> </span>545.4 V<span class=\"_ _3\"/>egoils and biofuels <span class=\"_ _57\"> </span>48.0 <span class=\"_ _bd\"> </span>38.0 <span class=\"_ _d9\"> </span>1<span class=\"_ _9\"/>.1 <span class=\"_ _1b1\"> </span>2.0 <span class=\"_ _140\"> </span>0.3 <span class=\"_ _4d\"> </span>\u2013 <span class=\"_ _c2\"> </span>71<span class=\"_ _9\"/>.2 <span class=\"_ _c2\"> </span>61<span class=\"_ _8\"/>.8 <span class=\"_ _228\"> </span>\u2013 <span class=\"_ _228\"> </span>\u2013 <span class=\"_ _155\"> </span>1<span class=\"_ _3\"/>20.6 <span class=\"_ _39\"> </span><span class=\"ls8b ws15b\">101<span class=\"_ _7\"/>.<span class=\"_ _5\"/>8<span class=\"_ _4\"/> </span>Gas products <span class=\"_ _10e\"> </span>\u2013 <span class=\"_ _4d\"> </span>\u2013 <span class=\"_ _140\"> </span>3.0 <span class=\"_ _c9\"> </span>5.6 <span class=\"_ _228\"> </span>\u2013 <span class=\"_ _4d\"> </span>\u2013 <span class=\"_ _bd\"> </span>38.8 <span class=\"_ _bd\"> </span>35.8 <span class=\"_ _4d\"> </span>\u2013 <span class=\"_ _228\"> </span>\u2013 <span class=\"_ _c2\"> </span>41<span class=\"_ _9\"/>.8 <span class=\"_ _c2\"> </span>41<span class=\"_ _8\"/>.4 Others <span class=\"_ _242\"> </span>9.6 <span class=\"_ _c9\"> </span>8.1 <span class=\"_ _c9\"> </span>9.1 <span class=\"_ _22b\"> </span>1<span class=\"_ _7\"/>2.8 <span class=\"_ _228\"> </span>\u2013 <span class=\"_ _228\"> </span>\u2013 <span class=\"_ _fb\"> </span>1<span class=\"_ _3\"/>7<span class=\"_ _1\"/>.9 <span class=\"_ _fb\"> </span>1<span class=\"_ _7\"/>7<span class=\"_ _1\"/>.0 <span class=\"_ _c9\"> </span>6.4 <span class=\"_ _140\"> </span>6.4 <span class=\"_ _19a\"> </span>43.0 <span class=\"_ _bd\"> </span>44.3 Revenues <span class=\"_ _1ef\"> </span><span class=\"fc0\">387<span class=\"_ _8\"/>.0 <span class=\"_ _1a2\"> </span><span class=\"fcb\">326.6 <span class=\"_ _1a2\"> </span></span>328.7 <span class=\"_ _1a2\"> </span><span class=\"fcb\">284.2 <span class=\"_ _a8\"> </span></span>51<span class=\"_ _7\"/>.5 <span class=\"_ _76\"> </span><span class=\"fcb\">44.7 <span class=\"_ _1a2\"> </span></span>593.4 <span class=\"_ _26\"> </span><span class=\"fcb\">566.0 <span class=\"_ _ea\"> </span></span>6.4 <span class=\"_ _ea\"> </span><span class=\"fcb\">6.4 <span class=\"_ _116\"> </span></span>1,367<span class=\"_ _8\"/>.0 <span class=\"_ _8f\"> </span><span class=\"fcb\">1,227<span class=\"_ _8\"/>.9 </span></span>1 <span class=\"_ _b3\"> </span>New Energy &amp; LNG division only consists of f<span class=\"_ _7\"/>our joint ventures, theref<span class=\"_ _7\"/>or no revenue. The table below pro<span class=\"_ _7\"/>vides an ov<span class=\"_ _7\"/>er<span class=\"_ _5\"/>view of the assets and liabilities recogniz<span class=\"_ _7\"/>ed in relation to contracts with customers and their mov<span class=\"_ _7\"/>ements during the periods presented. 2022 <span class=\"_ _43\"> </span>2021 T<span class=\"_ _8\"/>rade   <span class=\"ws3\"> </span>Pro<span class=\"_ _7\"/>vision for Def<span class=\"_ _7\"/>err<span class=\"_ _3\"/>ed T<span class=\"_ _8\"/>rade   <span class=\"ws3\"> </span>Pro<span class=\"_ _7\"/>vision for Def<span class=\"_ _7\"/>err<span class=\"_ _3\"/>ed In EUR millions receiv<span class=\"_ _3\"/>ables impair<span class=\"_ _7\"/>ment rev<span class=\"_ _7\"/>enues <span class=\"_ _18a\"> </span>T<span class=\"_ _8\"/>otal receiv<span class=\"_ _3\"/>ables impair<span class=\"_ _7\"/>ment rev<span class=\"_ _7\"/>enues <span class=\"_ _18a\"> </span>T<span class=\"_ _8\"/>otal Balance at 1 January <span class=\"_ _243\"> </span><span class=\"fc0 lsde ws15c\">111<span class=\"_ _5\"/>.<span class=\"_ _4\"/>2<span class=\"_ _4\"/> <span class=\"_ _51\"> </span></span>- 5.0 <span class=\"_ _c7\"> </span>- 32.0 <span class=\"_ _83\"> </span>7<span class=\"_ _3\"/>4.2 <span class=\"_ _131\"> </span><span class=\"fcb\">1<span class=\"_ _7\"/>03.9 <span class=\"_ _49\"> </span>- 2.4 <span class=\"_ _190\"> </span>- 18.6 <span class=\"_ _51\"> </span>82.9 </span>Recogniz<span class=\"_ _7\"/>ed as revenue in cur<span class=\"_ _7\"/>rent period <span class=\"_ _202\"> </span>1,335.0 <span class=\"_ _130\"> </span>\u2013 <span class=\"_ _45\"> </span>32.0 <span class=\"_ _f9\"> </span>1,367<span class=\"_ _d\"/>.0 <span class=\"_ _4d\"> </span>1,209.3 <span class=\"_ _130\"> </span>\u2013 <span class=\"_ _189\"> </span>18.6 <span class=\"_ _30\"> </span>1,227<span class=\"_ _1\"/>.9 Pa<span class=\"_ _7\"/>yments <span class=\"_ _12a\"> </span>- 1,320.2 <span class=\"_ _130\"> </span>\u2013 <span class=\"_ _18a\"> </span>- 24.0 <span class=\"_ _bc\"> </span>- 1,344.2 <span class=\"_ _bc\"> </span>- 1,206.1 <span class=\"_ _130\"> </span>\u2013 <span class=\"_ _18a\"> </span>- 32.0 <span class=\"_ _bc\"> </span>- 1,238.1 Impairments <span class=\"_ _21b\"> </span>\u2013 <span class=\"_ _45\"> </span>- 0.5 <span class=\"_ _130\"> </span>\u2013 <span class=\"_ _45\"> </span>- 0.5 <span class=\"_ _183\"> </span>\u2013 <span class=\"_ _45\"> </span>- 4.5 <span class=\"_ _130\"> </span>\u2013 <span class=\"_ _45\"> </span>- 4.5 Re<span class=\"_ _7\"/>versal of impairments <span class=\"_ _244\"> </span>\u2013 <span class=\"_ _db\"> </span>4.8 <span class=\"_ _130\"> </span>\u2013 <span class=\"_ _db\"> </span>4.8 <span class=\"_ _130\"> </span>\u2013 <span class=\"_ _113\"> </span>1<span class=\"_ _9\"/>.8 <span class=\"_ _130\"> </span>\u2013 <span class=\"_ _113\"> </span>1<span class=\"_ _9\"/>.8 Exc<span class=\"_ _3\"/>hange diff<span class=\"_ _3\"/>erences <span class=\"_ _22d\"> </span>3.2 <span class=\"_ _45\"> </span>- 0.3 <span class=\"_ _130\"> </span>\u2013 <span class=\"_ _db\"> </span>2.9 <span class=\"_ _db\"> </span>4.1 <span class=\"_ _db\"> </span>0.1 <span class=\"_ _130\"> </span>\u2013 <span class=\"_ _db\"> </span>4.2 Balance at 31 December <span class=\"_ _245\"> </span>129.2 <span class=\"_ _51\"> </span>- 1<span class=\"_ _7\"/>.0 <span class=\"_ _190\"> </span>- 24.0 <span class=\"_ _131\"> </span>1<span class=\"_ _3\"/>04.2 <span class=\"_ _7e\"> </span><span class=\"fcb lsde ws15c\">111<span class=\"_ _5\"/>.<span class=\"_ _21\"/>2<span class=\"_ _4\"/> <span class=\"_ _49\"> </span></span><span class=\"fcb\">- 5.0 <span class=\"_ _190\"> </span>- 32.0 <span class=\"_ _83\"> </span>7<span class=\"_ _3\"/>4.2 </span>",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfRevenueExplanatory",
    "language": "en",
    "entity": "scheme:724500UL634GFV1KYF10",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
   }
  },
  "pp-value-34-3": {
   "value": "Note 2.3 Rev<span class=\"_ _3\"/>enues The Group operates bulk liquids and gas storage terminals in k<span class=\"_ _7\"/>ey strategic ports. <span class=\"_ _8\"/>The Group owns and operates specializ<span class=\"_ _7\"/>ed facilities including tanks, jet<span class=\"_ _3\"/>ties, truc<span class=\"_ _3\"/>k loading st<span class=\"_ _5\"/>ations and pipelines. In many instances, the Group stores the customers\u00b4 products for e<span class=\"_ _7\"/>xtended periods at the terminals, of<span class=\"_ _3\"/>ten under strict specified conditions such as controlled temperat<span class=\"_ _3\"/>ures. The Group also blends components according to customer specifications.  The Group ensures saf<span class=\"_ _3\"/>e, clean and ef<span class=\"_ _7\"/>ficient storage and handling of bulk liquid products and gases for its customers. By doing so, the Group enables the deliv<span class=\"_ _7\"/>er<span class=\"_ _5\"/>y of vital products, ranging from c<span class=\"_ _3\"/>hemicals, oil, gases and LNG to biofuels and vegoils. A<span class=\"_ _1e\"> </span><span class=\"ff3 fs9\">Accounting policies </span>Re<span class=\"_ _7\"/>venue from contracts with customers is recogniz<span class=\"_ _7\"/>ed when control of the goods or ser<span class=\"_ _5\"/>vices are transf<span class=\"_ _7\"/>erred to the customer at an amount that reflects the consideration to whic<span class=\"_ _3\"/>h the Group expects to be entitled in e<span class=\"_ _7\"/>xc<span class=\"_ _3\"/>hange for those services or goods. Rev<span class=\"_ _7\"/>enues ex<span class=\"_ _7\"/>cludes amounts collected on behalf of third parties and are net of discounts and value added taxes. Monthly storage rates and prices for other services are contractually agreed before the ser<span class=\"_ _5\"/>vices are rendered and do not contain material variable components. <span class=\"_ _3\"/>When it is probable that the Group will collect the consideration to whic<span class=\"_ _3\"/>h it will be entitled, the recognition in the statement of income is in proportion to the st<span class=\"_ _5\"/>age of the rendered performance as at the end of the reporting period.  The Group has a right to a consideration from a customer in an amount that cor<span class=\"_ _7\"/>responds directly with the value to the customer of the entity\u2019<span class=\"_ _9\"/>s ser<span class=\"_ _5\"/>vices completed to date. <span class=\"_ _9\"/>T<span class=\"_ _9\"/>ank storage rentals, including minimum guaranteed throughputs, are recognized ev<span class=\"_ _7\"/>enly ov<span class=\"_ _7\"/>er the contractual period during whic<span class=\"_ _3\"/>h the ser<span class=\"_ _5\"/>vices are rendered. Re<span class=\"_ _7\"/>venues from e<span class=\"_ _7\"/>xcess throughputs, heating/cooling, homogenization, product movements and other services are recognized when these services are rendered. Customers simult<span class=\"_ _5\"/>aneously consume and benefit from the ser<span class=\"_ _5\"/>vices at the moment that these are rendered, resulting in a situation where rev<span class=\"_ _7\"/>enue is recognized o<span class=\"_ _7\"/>ver time. Modifications of property<span class=\"_ _3\"/>, plant and equipment upfront paid by customers are accounted f<span class=\"_ _7\"/>or as prepaid rev<span class=\"_ _7\"/>enues and recognized in the statement of income over the contract<span class=\"_ _7\"/>ual period on a straight-line basis.  Storage f<span class=\"_ _7\"/>ees are mostly inv<span class=\"_ _7\"/>oiced upfront in the month preceding the month to whic<span class=\"_ _7\"/>h the storage f<span class=\"_ _7\"/>ees relate. Handling and other ser<span class=\"_ _5\"/>vices are generally inv<span class=\"_ _7\"/>oiced af<span class=\"_ _7\"/>ter<span class=\"_ _5\"/>wards, based  on the actual usage. In<span class=\"_ _7\"/>voices are generally paid b<span class=\"_ _7\"/>y customers at relatively short notice in agreement with the payment terms of the contracts. Within the revenue related to storage and handling services, the following categorization is made: \u2022 <span class=\"_ _19f\"> </span><span class=\"ff3 fc1\">Stor<span class=\"_ _7\"/>age services:<span class=\"ff1\"> relates to re<span class=\"_ _7\"/>venues from renting of storage capacity </span></span>\u2022 <span class=\"_ _19f\"> </span><span class=\"ff3 fc1\">Product mo<span class=\"_ _7\"/>vements:<span class=\"ff1\"> re<span class=\"_ _7\"/>venues related to product mo<span class=\"_ _7\"/>vements </span></span>\u2022 <span class=\"_ _19f\"> </span><span class=\"ff3 fc1\">Stor<span class=\"_ _7\"/>age and handling r<span class=\"_ _3\"/>elated services:<span class=\"ff1\"> relates to rev<span class=\"_ _7\"/>enues for storage and handling </span></span>related ser<span class=\"_ _5\"/>vices, suc<span class=\"_ _3\"/>h as blending<span class=\"_ _5\"/>, homogenization, temperature control. \u2022 <span class=\"_ _19f\"> </span><span class=\"ff3 fc1 ws3\">Other services:<span class=\"ff1\"> primarily relates to the agency ser<span class=\"_ _5\"/>vices that <span class=\"_ _3\"/>V<span class=\"_ _3\"/>opak provided to customers via </span></span>V<span class=\"_ _3\"/>opak A<span class=\"_ _3\"/>gencies up till the divestment of the <span class=\"_ _3\"/>V<span class=\"_ _3\"/>opak A<span class=\"_ _7\"/>gencies business in December 2022. The Group does not mak<span class=\"_ _7\"/>e any significant judgments with regards to re<span class=\"_ _7\"/>venue recognition, among others due to the nature of the business. Revenues The table below pro<span class=\"_ _7\"/>vides an ov<span class=\"_ _7\"/>er<span class=\"_ _5\"/>view of the re<span class=\"_ _7\"/>venue per type of ser<span class=\"_ _5\"/>vice that the Group provides to its customers. In EUR millions <span class=\"_ _12a\"> </span>2022 <span class=\"_ _7f\"> </span>2021 Storage ser<span class=\"_ _5\"/>vices <span class=\"_ _23f\"> </span>1,089.0 <span class=\"_ _e6\"> </span>986.5 Product mo<span class=\"_ _7\"/>vements <span class=\"_ _127\"> </span>1<span class=\"_ _3\"/>04.0 <span class=\"_ _46\"> </span><span class=\"ls8b ws15b\">101<span class=\"_ _7\"/>.<span class=\"_ _4\"/>8<span class=\"_ _5\"/> </span>Storage and handling related ser<span class=\"_ _5\"/>vices <span class=\"_ _1c8\"> </span>127<span class=\"_ _d\"/>.2 <span class=\"_ _45\"> </span>93.7 Other ser<span class=\"_ _5\"/>vices <span class=\"_ _240\"> </span>46.8 <span class=\"_ _45\"> </span>45.9 Revenues <span class=\"_ _224\"> </span><span class=\"fc0\">1,367<span class=\"_ _8\"/>.0 <span class=\"_ _15a\"> </span><span class=\"fcb\">1,227<span class=\"_ _8\"/>.9 </span></span>The table below pro<span class=\"_ _7\"/>vides an ov<span class=\"_ _7\"/>er<span class=\"_ _5\"/>view of the re<span class=\"_ _7\"/>venues per product type per report<span class=\"_ _5\"/>able segment (product-mark<span class=\"_ _7\"/>et combinations). Amer<span class=\"_ _7\"/>icas <span class=\"_ _bc\"> </span>Asia &amp; Middle East <span class=\"_ _8f\"> </span>China &amp; North <span class=\"_ _3\"/>Asia <span class=\"_ _27\"> </span><span class=\"ws42\">Europe <span class=\"_ _5\"/>&amp; Africa <span class=\"_ _49\"> </span></span>Other <span class=\"_ _3d\"> </span>T<span class=\"_ _9\"/>otal In EUR millions <span class=\"_ _22d\"> </span>2022 <span class=\"_ _38\"> </span><span class=\"fc7\">2021 <span class=\"_ _38\"> </span></span>2022 <span class=\"_ _155\"> </span><span class=\"fc7\">2021 <span class=\"_ _38\"> </span></span>2022 <span class=\"_ _38\"> </span><span class=\"fc7\">2021 <span class=\"_ _38\"> </span></span>2022 <span class=\"_ _155\"> </span><span class=\"fc7\">2021 <span class=\"_ _38\"> </span></span>2022 <span class=\"_ _38\"> </span><span class=\"fc7\">2021 <span class=\"_ _155\"> </span></span>2022 <span class=\"_ _38\"> </span>2021 Chemical products <span class=\"_ _57\"> </span>1<span class=\"_ _7\"/>90.1 <span class=\"_ _155\"> </span>1<span class=\"_ _3\"/>44.0 <span class=\"_ _39\"> </span>1<span class=\"_ _3\"/>47<span class=\"_ _1\"/>.6 <span class=\"_ _aa\"> </span>1<span class=\"_ _9\"/>1<span class=\"_ _7\"/>5.3 <span class=\"_ _bd\"> </span>50.8 <span class=\"_ _19a\"> </span>43.7 <span class=\"_ _155\"> </span>21<span class=\"_ _7\"/>5.8 <span class=\"_ _22c\"> </span>192.0 <span class=\"_ _4d\"> </span>\u2013 <span class=\"_ _4d\"> </span>\u2013 <span class=\"_ _22c\"> </span>604.3 <span class=\"_ _ad\"> </span>495.0 Oil products <span class=\"_ _241\"> </span>1<span class=\"_ _7\"/>39.3 <span class=\"_ _22c\"> </span>136.5 <span class=\"_ _3a\"> </span>1<span class=\"_ _3\"/>67<span class=\"_ _1\"/>.9 <span class=\"_ _155\"> </span>1<span class=\"_ _7\"/>48.5 <span class=\"_ _c9\"> </span>0.4 <span class=\"_ _95\"> </span>1<span class=\"_ _8\"/>.0 <span class=\"_ _ad\"> </span>249.7 <span class=\"_ _22c\"> </span>259.4 <span class=\"_ _4d\"> </span>\u2013 <span class=\"_ _228\"> </span>\u2013 <span class=\"_ _aa\"> </span>557<span class=\"_ _8\"/>.3 <span class=\"_ _ad\"> </span>545.4 V<span class=\"_ _3\"/>egoils and biofuels <span class=\"_ _57\"> </span>48.0 <span class=\"_ _bd\"> </span>38.0 <span class=\"_ _d9\"> </span>1<span class=\"_ _9\"/>.1 <span class=\"_ _1b1\"> </span>2.0 <span class=\"_ _140\"> </span>0.3 <span class=\"_ _4d\"> </span>\u2013 <span class=\"_ _c2\"> </span>71<span class=\"_ _9\"/>.2 <span class=\"_ _c2\"> </span>61<span class=\"_ _8\"/>.8 <span class=\"_ _228\"> </span>\u2013 <span class=\"_ _228\"> </span>\u2013 <span class=\"_ _155\"> </span>1<span class=\"_ _3\"/>20.6 <span class=\"_ _39\"> </span><span class=\"ls8b ws15b\">101<span class=\"_ _7\"/>.<span class=\"_ _5\"/>8<span class=\"_ _4\"/> </span>Gas products <span class=\"_ _10e\"> </span>\u2013 <span class=\"_ _4d\"> </span>\u2013 <span class=\"_ _140\"> </span>3.0 <span class=\"_ _c9\"> </span>5.6 <span class=\"_ _228\"> </span>\u2013 <span class=\"_ _4d\"> </span>\u2013 <span class=\"_ _bd\"> </span>38.8 <span class=\"_ _bd\"> </span>35.8 <span class=\"_ _4d\"> </span>\u2013 <span class=\"_ _228\"> </span>\u2013 <span class=\"_ _c2\"> </span>41<span class=\"_ _9\"/>.8 <span class=\"_ _c2\"> </span>41<span class=\"_ _8\"/>.4 Others <span class=\"_ _242\"> </span>9.6 <span class=\"_ _c9\"> </span>8.1 <span class=\"_ _c9\"> </span>9.1 <span class=\"_ _22b\"> </span>1<span class=\"_ _7\"/>2.8 <span class=\"_ _228\"> </span>\u2013 <span class=\"_ _228\"> </span>\u2013 <span class=\"_ _fb\"> </span>1<span class=\"_ _3\"/>7<span class=\"_ _1\"/>.9 <span class=\"_ _fb\"> </span>1<span class=\"_ _7\"/>7<span class=\"_ _1\"/>.0 <span class=\"_ _c9\"> </span>6.4 <span class=\"_ _140\"> </span>6.4 <span class=\"_ _19a\"> </span>43.0 <span class=\"_ _bd\"> </span>44.3 Revenues <span class=\"_ _1ef\"> </span><span class=\"fc0\">387<span class=\"_ _8\"/>.0 <span class=\"_ _1a2\"> </span><span class=\"fcb\">326.6 <span class=\"_ _1a2\"> </span></span>328.7 <span class=\"_ _1a2\"> </span><span class=\"fcb\">284.2 <span class=\"_ _a8\"> </span></span>51<span class=\"_ _7\"/>.5 <span class=\"_ _76\"> </span><span class=\"fcb\">44.7 <span class=\"_ _1a2\"> </span></span>593.4 <span class=\"_ _26\"> </span><span class=\"fcb\">566.0 <span class=\"_ _ea\"> </span></span>6.4 <span class=\"_ _ea\"> </span><span class=\"fcb\">6.4 <span class=\"_ _116\"> </span></span>1,367<span class=\"_ _8\"/>.0 <span class=\"_ _8f\"> </span><span class=\"fcb\">1,227<span class=\"_ _8\"/>.9 </span></span>1 <span class=\"_ _b3\"> </span>New Energy &amp; LNG division only consists of f<span class=\"_ _7\"/>our joint ventures, theref<span class=\"_ _7\"/>or no revenue. ",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfRevenueFromContractsWithCustomersExplanatory",
    "language": "en",
    "entity": "scheme:724500UL634GFV1KYF10",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
   }
  },
  "pp-value-35-5": {
   "value": "A Accounting policies Revenue from contracts with customers is recognized when control of the goods or services are transferred to the customer at an amount that reflects the consideration to which the Group expects to be entitled in exchange for those services or goods. Revenues excludes amounts collected on behalf of third parties and are net of discounts and value added taxes. Monthly storage rates and prices for other services are contractually agreed before the services are rendered and do not contain material variable components. When it is probable that the Group will collect the consideration to which it will be entitled, the recognition in the statement of income is in proportion to the stage of the rendered performance as at the end of the reporting period.  The Group has a right to a consideration from a customer in an amount that corresponds directly with the value to the customer of the entity\u2019s services completed to date. Tank storage rentals, including minimum guaranteed throughputs, are recognized evenly over the contractual period during which the services are rendered. Revenues from excess throughputs, heating/cooling, homogenization, product movements and other services are recognized when these services are rendered. Customers simultaneously consume and benefit from the services at the moment that these are rendered, resulting in a situation where revenue is recognized over time. Modifications of property, plant and equipment upfront paid by customers are accounted for as prepaid revenues and recognized in the statement of income over the contractual period on a straight-line basis.  Storage fees are mostly invoiced upfront in the month preceding the month to which the storage fees relate. Handling and other services are generally invoiced afterwards, based  on the actual usage. Invoices are generally paid by customers at relatively short notice in agreement with the payment terms of the contracts. Within the revenue related to storage and handling services, the following categorization is made: \u2022  Storage services: relates to revenues from renting of storage capacity \u2022  Product movements: revenues related to product movements \u2022  Storage and handling related services: relates to revenues for storage and handling related services, such as blending, homogenization, temperature control. \u2022  Other services: primarily relates to the agency services that Vopak provided to customers via Vopak Agencies up till the divestment of the Vopak Agencies business in December 2022. The Group does not make any significant judgments with regards to revenue recognition, among others due to the nature of the business. ",
   "dimensions": {
    "concept": "ifrs-full:DescriptionOfAccountingPolicyForRecognitionOfRevenue",
    "language": "en",
    "entity": "scheme:724500UL634GFV1KYF10",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
   }
  },
  "pp-value-39-3": {
   "value": "The table below provides an overview of the assets and liabilities recognized in relation to contracts with customers and their movements during the periods presented. 2022  2021 Trade    Provision for Deferred Trade    Provision for Deferred In EUR millions receivables impairment revenues  Total receivables impairment revenues  Total Balance at 1 January  111.2  - 5.0  - 32.0  74.2  103.9  - 2.4  - 18.6  82.9 Recognized as revenue in current period  1,335.0  \u2013  32.0  1,367.0  1,209.3  \u2013  18.6  1,227.9 Payments  - 1,320.2  \u2013  - 24.0  - 1,344.2  - 1,206.1  \u2013  - 32.0  - 1,238.1 Impairments  \u2013  - 0.5  \u2013  - 0.5  \u2013  - 4.5  \u2013  - 4.5 Reversal of impairments  \u2013  4.8  \u2013  4.8  \u2013  1.8  \u2013  1.8 Exchange differences  3.2  - 0.3  \u2013  2.9  4.1  0.1  \u2013  4.2 Balance at 31 December  129.2  - 1.0  - 24.0  104.2  111.2  - 5.0  - 32.0  74.2 Note 4.2 Trade and other receivables and related credit risk Trade and other receivables are exposed to credit risk which could result in impairment losses. This note includes general information about trade and other receivables as well as specifications and explanations of the related risk. A Accounting policies Trade receivables are amounts due from customers for services rendered in the ordinary course of business. Trade and other receivables are recognized initially at fair value. The Group holds trade receivables with the objective to collect the contractual cash flows and therefore the Group measures them subsequently at amortized cost using the effective interest method, less any provision for impairment. Trade receivables are generally due for settlement within 30 days and therefore are all classified as current. The group applies the simplified approach for measuring expected credit losses which uses a lifetime expected loss allowance for all trade receivables and contract assets. Trade receivables are written off (impaired) when objective evidence indicates that there is no reasonable expectation of recovery. This is based on an individual review for impairment due to an increase of the credit risk of the customer, past due amounts and taking into account any retention right on product stored for this customer. The creation and release of a provision for impaired trade receivables are recognized under Other operating expenses in the income statement.  Other receivables include among others contract assets for services transferred to the customer and the dividend receivables from joint ventures and associates for which the decision about dividend distribution was taken before year-end. Trade and other receivables In EUR millions  31-Dec-22  31-Dec-21 Trade debtors gross  129.2  111. 2  Provision for impairment of trade debtors  - 1.0  - 5.0 Trade debtors net 128.2  106.2 Taxes receivable  38.0  49.1 Other receivables  152.3  104.3 Total  318.5  259.6 The effect of the recognized expected credit losses is negligible for both years presented. There was no indication as at the statement of financial position date that these receivables will not be recovered, other than as already provided for. The Group does not have a significant credit risk exposure on a single customer. For more information reference is also made to note 2.3. Trade receivables Ageing of trade receivables 2022  2021 In EUR millions  Gross  Provision  Net  Gross  Provision  NetNot past due  94.9  \u2013  94.9  76.3  \u2013  76.3 Past due up to 3 months  30.2  - 0.2  30.0  20.8  \u2013  20.8 Past due 3 to 6 months  1.3  \u2013  1.3  4.9  \u2013  4.9 Past due more than 6 months  2.8  - 0.8  2.0  9.2  - 5.0  4.2 Total  129.2  - 1.0  128.2  111.2  - 5.0  106.2 Provision for bad debt In EUR millions  2022  2021Balance at 1 January  - 5.0  - 2.4 Impairments  - 0.5  - 4.4 Reversal of impairments  4.8  1.8 Exchange differences  - 0.3  \u2013 Balance at 31 December  - 1.0  - 5.0 Exposure to bad debts is mostly related to rendering services to international manufacturers and traders. The value of the products stored for these customers usually exceeds the value of the receivables and Vopak generally has the right of retention. Historically, amounts written off as uncollectible have been very low, in line with the  nature of the business model, which is also the case for the years presented. Also the macro-economic and geopolitical uncertainty did not result in a material increase  in the provision for bad debt as no material increase in the credit risk of the accounts receivable portfolio was observed, despite the fact that the monitoring of the credit risk  of our customers was further intensified in connection with the pandemic. Other receivables The total dividend receivable from joint ventures and associates amounted to EUR 16.1 million at the end of 2022 (2021: EUR 1.3 million). Other receivables balance of 2022 includes EUR 56.9 million deferred consideration of the divestment of our Canadian terminals. There were no material amounts overdue nor impaired for the other items included in the Other receivables. ",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfTradeAndOtherReceivablesExplanatory",
    "language": "en",
    "entity": "scheme:724500UL634GFV1KYF10",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
   }
  },
  "pp-value-39-4": {
   "value": "The table below provides an overview of the assets and liabilities recognized in relation to contracts with customers and their movements during the periods presented. 2022  2021 Trade    Provision for Deferred Trade    Provision for Deferred In EUR millions receivables impairment revenues  Total receivables impairment revenues  Total Balance at 1 January  111.2  - 5.0  - 32.0  74.2  103.9  - 2.4  - 18.6  82.9 Recognized as revenue in current period  1,335.0  \u2013  32.0  1,367.0  1,209.3  \u2013  18.6  1,227.9 Payments  - 1,320.2  \u2013  - 24.0  - 1,344.2  - 1,206.1  \u2013  - 32.0  - 1,238.1 Impairments  \u2013  - 0.5  \u2013  - 0.5  \u2013  - 4.5  \u2013  - 4.5 Reversal of impairments  \u2013  4.8  \u2013  4.8  \u2013  1.8  \u2013  1.8 Exchange differences  3.2  - 0.3  \u2013  2.9  4.1  0.1  \u2013  4.2 Balance at 31 December  129.2  - 1.0  - 24.0  104.2  111.2  - 5.0  - 32.0  74.2 The effect of the recognized expected credit losses is negligible for both years presented. There was no indication as at the statement of financial position date that these receivables will not be recovered, other than as already provided for. The Group does not have a significant credit risk exposure on a single customer. For more information reference is also made to note 2.3. Trade receivables Ageing of trade receivables 2022  2021 In EUR millions  Gross  Provision  Net  Gross  Provision  NetNot past due  94.9  \u2013  94.9  76.3  \u2013  76.3 Past due up to 3 months  30.2  - 0.2  30.0  20.8  \u2013  20.8 Past due 3 to 6 months  1.3  \u2013  1.3  4.9  \u2013  4.9 Past due more than 6 months  2.8  - 0.8  2.0  9.2  - 5.0  4.2 Total  129.2  - 1.0  128.2  111.2  - 5.0  106.2 Provision for bad debt In EUR millions  2022  2021Balance at 1 January  - 5.0  - 2.4 Impairments  - 0.5  - 4.4 Reversal of impairments  4.8  1.8 Exchange differences  - 0.3  \u2013 Balance at 31 December  - 1.0  - 5.0 Exposure to bad debts is mostly related to rendering services to international manufacturers and traders. The value of the products stored for these customers usually exceeds the value of the receivables and Vopak generally has the right of retention. Historically, amounts written off as uncollectible have been very low, in line with the  nature of the business model, which is also the case for the years presented. Also the macro-economic and geopolitical uncertainty did not result in a material increase  in the provision for bad debt as no material increase in the credit risk of the accounts receivable portfolio was observed, despite the fact that the monitoring of the credit risk  of our customers was further intensified in connection with the pandemic. ",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfAllowanceForCreditLossesExplanatory",
    "language": "en",
    "entity": "scheme:724500UL634GFV1KYF10",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
   }
  },
  "pp-value-40-2": {
   "value": "Note 2.4 Other operating income  A Accounting policies Gains on the sale of assets and the divestment of interests in other entities are deemed realized at the time the benefits and the risks of the assets are entirely borne by the buyer and there is no uncertainty as to whether the agreed payment will be received. Gains on the sale of subsidiaries, joint ventures and associates are realized at the time control respectively joint control or significant influence is no longer exercised. Dividend income is recognized when the right to receive payment is established. All dividend income is related to dividends from equity investments held at Fair value through Other Comprehensive Income (FVOCI). Reference is also made to note 9.6. Other operating income In EUR millions  2022  2021Management fee joint ventures and associates  16.7  13.9 Gains on sale of property, plant and equipment  0.3  1.3 Gains on divestments  25.0  \u2013 Dividends received from other financial assets  3.0  0.5 Other  18.9  25.4 Total  63.9  41.1 2022 Divestment Canadian terminals  In May 2022, Vopak completed the earlier announced divestment of Vopak\u2019s 100% shareholding in Vopak Terminals of Canada Inc. and Vopak Terminals of Eastern Canada Inc. The total agreed transaction value including deferred consideration amounted to EUR 129 million. The sale generated net cash proceeds of EUR 64.7 million in 2022. In May 2023, the remaining consideration of EUR 62 million is expected to be received. The recognized exceptional gain reported was EUR 8.5 million. Divestment Vopak Agencies  In December 2022, Vopak completed the divestment of Vopak\u2019s 100% shareholding in Vopak Agencies B.V. and 50% of its shareholding in Diize B.V. The net cash proceeds of  EUR 16.4 million were received upon execution of divestment transaction. The recognized exceptional gain was EUR 11.3 million. Partial dilution in Thai Tank Terminal   In December 2022, an exceptional gain of EUR 5.2 million was recorded related to the dilution of Vopak\u2019s 14% equity stake in Thai Tank Terminal Ltd. located in Thailand. After the dilution, Vopak holds an equity stake of 35% which continues to be classified as a joint venture.  There were no other individually material items recognized in Other operating income in 2022. 2021 There were no individually material items recognized in Other operating income in 2021.  Note 2.5 Personnel expenses  A Accounting policies Short-term employee benefits: wages, salaries, social security contributions, annual leave and sickness absenteeism, incentives and non-monetary benefits are recognized in the year in which the related services are rendered by employees. Termination benefits are payable when employment is terminated by the Group before the normal retirement date, or whenever an employee accepts voluntary redundancy in exchange for these benefits. The Group recognizes termination benefits at the earlier of the following dates: (a) when the Group can no longer withdraw the offer of those benefits; and (b) when the Group recognizes a restructuring provision that involves the payment of termination benefits. The Group recognizes a provision for incentive plans where contractually obliged or where there is a past practice that has created a constructive obligation. For the accounting policies related to share-based compensation, other types of remuneration and pensions and other employee benefits reference is made to note 7.2 and note 9.4. Capitalized personnel expenses: costs of employee benefits arising directly from the construction of Intangible assets or Property, plant and equipment and which meet the recognition criteria, are capitalized as part of the cost of the asset concerned. Personnel expenses In EUR millions  Note  2022  2021Wages and salaries  308.5  300.1 Social security charges  39.4  36.4 Contribution to pension schemes (defined contribution)  35.5  31.8 Pension charges (defined benefit plans)  9.4  7.6  7.4 Long-term incentive plans  7.2  4.0  8.5 Early retirement  6.2  4.7 Other personnel expenses  23.0  20.5 Capitalized personnel expenses  - 59.3  - 66.7 Total  364.9  342.7 There were no individually material items recognized in Personnel expenses in 2021 nor in 2022. For the impact of the change in board composition, reference is made to the Remuneration report. Average number of employees (in FTEs) During the year under review, the Group employed on average 4,061 employees and temporary staff (in FTEs) (2021: 4,250). The movements in the number of own employees at subsidiaries (in FTEs) were as follows: In FTEs  2022  2021 Number at 1 January  3,730  3,713 Joiners  572  475 Leavers  - 554  - 458 Divestment/deconsolidation  - 276  \u2013 Number at 31 December  3,472  3,730 Note 2.6 Other operating expenses  A Accounting policies Operating expenses are recognized in the income statement when incurred, e.g. when services are received or goods are consumed. In addition, operating expenses can result from a decrease in future economic benefits related to a decrease of an asset or an increase of a liability that has arisen and which can be measured reliably.   Losses on the sale of assets are presented under Other operating expenses and are recognized as soon as they are foreseen. Costs relating to the identification and selection phases of business development projects are recognized in the statement of income in the year in which the costs are incurred. Other operating expenses In EUR millions  2022  2021Maintenance  54.8  54.1 Energy and utilities  86.9  49.2 Environmental, safety and cleaning  49.2  37.9 Advisory fees  22.2  23.8 Insurance  19.3  14.2 Rents and rates  25.4  22.2 Third party logistics  10.5  12.2 IT  29.0  33.8 Lease expenses - variable expenses, short and low value leases  4.0  5.7 Other  54.2  33.0 Total  355.5  286.1 2022 Divestment CRL terminal in India  In May 2022, as a result of the loss of control of Vopak\u2019s CRL terminal in Kandla, India, an exceptional divestment loss of EUR 6.0 million was recorded in the line item Other. The purchase consideration including deferred and contingent components amounted to approximately EUR 39.3 million, with net cash proceeds in the first half of 2022 of EUR 23.9 million. The deferred and contingent components are expected to be received in 2025.  Business development expenses  Business development expenses for an amount of EUR 1.0 million related to an opportunity which was assessed as unlikely to be realized and have been recorded as an Other exceptional expense. There were no other individually material items recognized in Other operating expenses in 2022. 2021 Divestment Jubail Chemicals Storage and Services Company  In the fourth quarter of 2021 an exceptional loss of EUR 0.7 million was recorded related to a partial divestment of a 3% equity stake in the terminal Jubail Chemicals Storage and Services Company (JCSSC) located in Saudi Arabia. After divestment Vopak holds a 22% equity stake in this associate.   There were no other individually material items recognized in Other operating expenses in 2021. Note 3.7 Depreciation and amortization A Accounting policies The expected useful life of software intangible assets is normally subject to a maximum of seven years. Amortization of other intangible assets and licenses is based on the term of the validity of the contract or term of the validity period and varies from 5-30 years. Depreciation of property, plant and equipment is computed from the date the asset is available for use, using the straight-line method over the expected useful life and taking the estimated residual value into account. The useful life of the main assets is as follows: \u2022  for buildings 10-40 years \u2022  for main components of tank storage terminals 10-40 years \u2022  for IT hardware 3-5 years \u2022  for machinery, equipment and fixtures 3-10 years.  \u2022  Land is not depreciated.  The residual value and useful life of intangible assets and property, plant and equipment are reviewed annually and adjusted if necessary. For the accounting policies related to the amortization of the right-of-use assets recognized in relation to the leases of the Group, reference is made to note 3.4. Depreciation and amortization In EUR millions  Note  2022  2021 Amortization intangible assets  3.2  20.7  17.6 Depreciation owned assets  3.3  277.3  274.3 Depreciation right-of-use assets  3.4  41.9  39.9 Total  339.9  331.8 ",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfOtherOperatingIncomeExpenseExplanatory",
    "language": "en",
    "entity": "scheme:724500UL634GFV1KYF10",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
   }
  },
  "pp-value-40-3": {
   "value": "Note 2.4 Other operating income  A Accounting policies Gains on the sale of assets and the divestment of interests in other entities are deemed realized at the time the benefits and the risks of the assets are entirely borne by the buyer and there is no uncertainty as to whether the agreed payment will be received. Gains on the sale of subsidiaries, joint ventures and associates are realized at the time control respectively joint control or significant influence is no longer exercised. Dividend income is recognized when the right to receive payment is established. All dividend income is related to dividends from equity investments held at Fair value through Other Comprehensive Income (FVOCI). Reference is also made to note 9.6. Other operating income In EUR millions  2022  2021Management fee joint ventures and associates  16.7  13.9 Gains on sale of property, plant and equipment  0.3  1.3 Gains on divestments  25.0  \u2013 Dividends received from other financial assets  3.0  0.5 Other  18.9  25.4 Total  63.9  41.1 2022 Divestment Canadian terminals  In May 2022, Vopak completed the earlier announced divestment of Vopak\u2019s 100% shareholding in Vopak Terminals of Canada Inc. and Vopak Terminals of Eastern Canada Inc. The total agreed transaction value including deferred consideration amounted to EUR 129 million. The sale generated net cash proceeds of EUR 64.7 million in 2022. In May 2023, the remaining consideration of EUR 62 million is expected to be received. The recognized exceptional gain reported was EUR 8.5 million. Divestment Vopak Agencies  In December 2022, Vopak completed the divestment of Vopak\u2019s 100% shareholding in Vopak Agencies B.V. and 50% of its shareholding in Diize B.V. The net cash proceeds of  EUR 16.4 million were received upon execution of divestment transaction. The recognized exceptional gain was EUR 11.3 million. Partial dilution in Thai Tank Terminal   In December 2022, an exceptional gain of EUR 5.2 million was recorded related to the dilution of Vopak\u2019s 14% equity stake in Thai Tank Terminal Ltd. located in Thailand. After the dilution, Vopak holds an equity stake of 35% which continues to be classified as a joint venture.  There were no other individually material items recognized in Other operating income in 2022. 2021 There were no individually material items recognized in Other operating income in 2021. ",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfOtherOperatingIncomeExplanatory",
    "language": "en",
    "entity": "scheme:724500UL634GFV1KYF10",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
   }
  },
  "pp-value-42-5": {
   "value": " Note 2.5 Personnel expenses  A Accounting policies Short-term employee benefits: wages, salaries, social security contributions, annual leave and sickness absenteeism, incentives and non-monetary benefits are recognized in the year in which the related services are rendered by employees. Termination benefits are payable when employment is terminated by the Group before the normal retirement date, or whenever an employee accepts voluntary redundancy in exchange for these benefits. The Group recognizes termination benefits at the earlier of the following dates: (a) when the Group can no longer withdraw the offer of those benefits; and (b) when the Group recognizes a restructuring provision that involves the payment of termination benefits. The Group recognizes a provision for incentive plans where contractually obliged or where there is a past practice that has created a constructive obligation. For the accounting policies related to share-based compensation, other types of remuneration and pensions and other employee benefits reference is made to note 7.2 and note 9.4. Capitalized personnel expenses: costs of employee benefits arising directly from the construction of Intangible assets or Property, plant and equipment and which meet the recognition criteria, are capitalized as part of the cost of the asset concerned. Personnel expenses In EUR millions  Note  2022  2021Wages and salaries  308.5  300.1 Social security charges  39.4  36.4 Contribution to pension schemes (defined contribution)  35.5  31.8 Pension charges (defined benefit plans)  9.4  7.6  7.4 Long-term incentive plans  7.2  4.0  8.5 Early retirement  6.2  4.7 Other personnel expenses  23.0  20.5 Capitalized personnel expenses  - 59.3  - 66.7 Total  364.9  342.7 There were no individually material items recognized in Personnel expenses in 2021 nor in 2022. For the impact of the change in board composition, reference is made to the Remuneration report. Average number of employees (in FTEs) During the year under review, the Group employed on average 4,061 employees and temporary staff (in FTEs) (2021: 4,250). The movements in the number of own employees at subsidiaries (in FTEs) were as follows: In FTEs  2022  2021 Number at 1 January  3,730  3,713 Joiners  572  475 Leavers  - 554  - 458 Divestment/deconsolidation  - 276  \u2013 Number at 31 December  3,472  3,730 Note 2.6 Other operating expenses  A Accounting policies Operating expenses are recognized in the income statement when incurred, e.g. when services are received or goods are consumed. In addition, operating expenses can result from a decrease in future economic benefits related to a decrease of an asset or an increase of a liability that has arisen and which can be measured reliably.   Losses on the sale of assets are presented under Other operating expenses and are recognized as soon as they are foreseen. Costs relating to the identification and selection phases of business development projects are recognized in the statement of income in the year in which the costs are incurred. Other operating expenses In EUR millions  2022  2021Maintenance  54.8  54.1 Energy and utilities  86.9  49.2 Environmental, safety and cleaning  49.2  37.9 Advisory fees  22.2  23.8 Insurance  19.3  14.2 Rents and rates  25.4  22.2 Third party logistics  10.5  12.2 IT  29.0  33.8 Lease expenses - variable expenses, short and low value leases  4.0  5.7 Other  54.2  33.0 Total  355.5  286.1 2022 Divestment CRL terminal in India  In May 2022, as a result of the loss of control of Vopak\u2019s CRL terminal in Kandla, India, an exceptional divestment loss of EUR 6.0 million was recorded in the line item Other. The purchase consideration including deferred and contingent components amounted to approximately EUR 39.3 million, with net cash proceeds in the first half of 2022 of EUR 23.9 million. The deferred and contingent components are expected to be received in 2025.  Business development expenses  Business development expenses for an amount of EUR 1.0 million related to an opportunity which was assessed as unlikely to be realized and have been recorded as an Other exceptional expense. There were no other individually material items recognized in Other operating expenses in 2022. 2021 Divestment Jubail Chemicals Storage and Services Company  In the fourth quarter of 2021 an exceptional loss of EUR 0.7 million was recorded related to a partial divestment of a 3% equity stake in the terminal Jubail Chemicals Storage and Services Company (JCSSC) located in Saudi Arabia. After divestment Vopak holds a 22% equity stake in this associate.   There were no other individually material items recognized in Other operating expenses in 2021. ",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfOtherOperatingExpenseExplanatory",
    "language": "en",
    "entity": "scheme:724500UL634GFV1KYF10",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
   }
  },
  "pp-value-42-6": {
   "value": " Note 2.5 Personnel expenses  A Accounting policies Short-term employee benefits: wages, salaries, social security contributions, annual leave and sickness absenteeism, incentives and non-monetary benefits are recognized in the year in which the related services are rendered by employees. Termination benefits are payable when employment is terminated by the Group before the normal retirement date, or whenever an employee accepts voluntary redundancy in exchange for these benefits. The Group recognizes termination benefits at the earlier of the following dates: (a) when the Group can no longer withdraw the offer of those benefits; and (b) when the Group recognizes a restructuring provision that involves the payment of termination benefits. The Group recognizes a provision for incentive plans where contractually obliged or where there is a past practice that has created a constructive obligation. For the accounting policies related to share-based compensation, other types of remuneration and pensions and other employee benefits reference is made to note 7.2 and note 9.4. Capitalized personnel expenses: costs of employee benefits arising directly from the construction of Intangible assets or Property, plant and equipment and which meet the recognition criteria, are capitalized as part of the cost of the asset concerned. Personnel expenses In EUR millions  Note  2022  2021Wages and salaries  308.5  300.1 Social security charges  39.4  36.4 Contribution to pension schemes (defined contribution)  35.5  31.8 Pension charges (defined benefit plans)  9.4  7.6  7.4 Long-term incentive plans  7.2  4.0  8.5 Early retirement  6.2  4.7 Other personnel expenses  23.0  20.5 Capitalized personnel expenses  - 59.3  - 66.7 Total  364.9  342.7 There were no individually material items recognized in Personnel expenses in 2021 nor in 2022. For the impact of the change in board composition, reference is made to the Remuneration report. Average number of employees (in FTEs) During the year under review, the Group employed on average 4,061 employees and temporary staff (in FTEs) (2021: 4,250). The movements in the number of own employees at subsidiaries (in FTEs) were as follows: In FTEs  2022  2021 Number at 1 January  3,730  3,713 Joiners  572  475 Leavers  - 554  - 458 Divestment/deconsolidation  - 276  \u2013 Number at 31 December  3,472  3,730 Note 2.6 Other operating expenses  A Accounting policies Operating expenses are recognized in the income statement when incurred, e.g. when services are received or goods are consumed. In addition, operating expenses can result from a decrease in future economic benefits related to a decrease of an asset or an increase of a liability that has arisen and which can be measured reliably.   Losses on the sale of assets are presented under Other operating expenses and are recognized as soon as they are foreseen. Costs relating to the identification and selection phases of business development projects are recognized in the statement of income in the year in which the costs are incurred. Other operating expenses In EUR millions  2022  2021Maintenance  54.8  54.1 Energy and utilities  86.9  49.2 Environmental, safety and cleaning  49.2  37.9 Advisory fees  22.2  23.8 Insurance  19.3  14.2 Rents and rates  25.4  22.2 Third party logistics  10.5  12.2 IT  29.0  33.8 Lease expenses - variable expenses, short and low value leases  4.0  5.7 Other  54.2  33.0 Total  355.5  286.1 2022 Divestment CRL terminal in India  In May 2022, as a result of the loss of control of Vopak\u2019s CRL terminal in Kandla, India, an exceptional divestment loss of EUR 6.0 million was recorded in the line item Other. The purchase consideration including deferred and contingent components amounted to approximately EUR 39.3 million, with net cash proceeds in the first half of 2022 of EUR 23.9 million. The deferred and contingent components are expected to be received in 2025.  Business development expenses  Business development expenses for an amount of EUR 1.0 million related to an opportunity which was assessed as unlikely to be realized and have been recorded as an Other exceptional expense. There were no other individually material items recognized in Other operating expenses in 2022. 2021 Divestment Jubail Chemicals Storage and Services Company  In the fourth quarter of 2021 an exceptional loss of EUR 0.7 million was recorded related to a partial divestment of a 3% equity stake in the terminal Jubail Chemicals Storage and Services Company (JCSSC) located in Saudi Arabia. After divestment Vopak holds a 22% equity stake in this associate.   There were no other individually material items recognized in Other operating expenses in 2021. Note 3.7 Depreciation and amortization A Accounting policies The expected useful life of software intangible assets is normally subject to a maximum of seven years. Amortization of other intangible assets and licenses is based on the term of the validity of the contract or term of the validity period and varies from 5-30 years. Depreciation of property, plant and equipment is computed from the date the asset is available for use, using the straight-line method over the expected useful life and taking the estimated residual value into account. The useful life of the main assets is as follows: \u2022  for buildings 10-40 years \u2022  for main components of tank storage terminals 10-40 years \u2022  for IT hardware 3-5 years \u2022  for machinery, equipment and fixtures 3-10 years.  \u2022  Land is not depreciated.  The residual value and useful life of intangible assets and property, plant and equipment are reviewed annually and adjusted if necessary. For the accounting policies related to the amortization of the right-of-use assets recognized in relation to the leases of the Group, reference is made to note 3.4. Depreciation and amortization In EUR millions  Note  2022  2021 Amortization intangible assets  3.2  20.7  17.6 Depreciation owned assets  3.3  277.3  274.3 Depreciation right-of-use assets  3.4  41.9  39.9 Total  339.9  331.8 ",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfExpensesByNatureExplanatory",
    "language": "en",
    "entity": "scheme:724500UL634GFV1KYF10",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
   }
  },
  "pp-value-42-8": {
   "value": " Note 2.5 Personnel expenses  A Accounting policies Short-term employee benefits: wages, salaries, social security contributions, annual leave and sickness absenteeism, incentives and non-monetary benefits are recognized in the year in which the related services are rendered by employees. Termination benefits are payable when employment is terminated by the Group before the normal retirement date, or whenever an employee accepts voluntary redundancy in exchange for these benefits. The Group recognizes termination benefits at the earlier of the following dates: (a) when the Group can no longer withdraw the offer of those benefits; and (b) when the Group recognizes a restructuring provision that involves the payment of termination benefits. The Group recognizes a provision for incentive plans where contractually obliged or where there is a past practice that has created a constructive obligation. For the accounting policies related to share-based compensation, other types of remuneration and pensions and other employee benefits reference is made to note 7.2 and note 9.4. Capitalized personnel expenses: costs of employee benefits arising directly from the construction of Intangible assets or Property, plant and equipment and which meet the recognition criteria, are capitalized as part of the cost of the asset concerned. A Accounting policies  Defined benefit plans  The Group\u2019s net pension obligation is calculated by an independent actuary, using the projected unit credit method. This calculation is performed separately for each plan by estimating the amount of the benefit that employees have earned in relation to their past services. The liability recognized in the balance sheet is the present value of these benefits at the end of the reporting period (defined benefit obligation) less the fair value of plan assets. The defined benefit obligation is determined by discounting the estimated future cash flows using interest rates of high-quality corporate bonds with durations matching the expected terms of the benefits.   The increase in the defined benefit obligation due to the passage of time and the expected return on plan assets, using the same interest rate as for the defined benefit obligation, are included in the pension costs.   Past-service costs are recognized immediately in the statement of income. Actuarial gains and losses arising from experience adjustments and changes in actuarial assumptions are recognized in equity via Other comprehensive income in the period in which they arise.   When a plan is changed, settled or when a plan is curtailed, the resulting change in the defined benefit obligation that relates to past-service or the gain or loss on curtailment is recognized immediately in the statement of income under Personnel expenses. The Group recognizes gains and losses on the settlement of a defined benefit plan when the settlement occurs.  Defined contribution plans  Contributions to defined contribution plans are recognized as an expense in the statement ofincome as incurred.   Key accounting estimates and judgments  The defined benefit obligation is determined on the basis of assumptions for future developments in variables such as salary increase, price index increase, life expectancy and discount rate. All assumptions are assessed at the reporting date. Changes in the assumptions may significantly affect the liabilities and pension costs under the defined benefit plans. The weighted average of these assumptions as well as sensitivities of key assumptions are disclosed in this note.  ",
   "dimensions": {
    "concept": "ifrs-full:DescriptionOfAccountingPolicyForEmployeeBenefitsExplanatory",
    "language": "en",
    "entity": "scheme:724500UL634GFV1KYF10",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
   }
  },
  "pp-value-44-7": {
   "value": "Personnel expenses In EUR millions  Note  2022  2021Wages and salaries  308.5  300.1 Social security charges  39.4  36.4 Contribution to pension schemes (defined contribution)  35.5  31.8 Pension charges (defined benefit plans)  9.4  7.6  7.4 Long-term incentive plans  7.2  4.0  8.5 Early retirement  6.2  4.7 Other personnel expenses  23.0  20.5 Capitalized personnel expenses  - 59.3  - 66.7 Total  364.9  342.7 There were no individually material items recognized in Personnel expenses in 2021 nor in 2022. For the impact of the change in board composition, reference is made to the Remuneration report. In FTEs  2022  2021 Number at 1 January  3,730  3,713 Joiners  572  475 Leavers  - 554  - 458 Divestment/deconsolidation  - 276  \u2013 Number at 31 December  3,472  3,730 Note 2.6 Other operating expenses  A Accounting policies Operating expenses are recognized in the income statement when incurred, e.g. when services are received or goods are consumed. In addition, operating expenses can result from a decrease in future economic benefits related to a decrease of an asset or an increase of a liability that has arisen and which can be measured reliably.   Losses on the sale of assets are presented under Other operating expenses and are recognized as soon as they are foreseen. Costs relating to the identification and selection phases of business development projects are recognized in the statement of income in the year in which the costs are incurred. Other operating expenses In EUR millions  2022  2021Maintenance  54.8  54.1 Energy and utilities  86.9  49.2 Environmental, safety and cleaning  49.2  37.9 Advisory fees  22.2  23.8 Insurance  19.3  14.2 Rents and rates  25.4  22.2 Third party logistics  10.5  12.2 IT  29.0  33.8 Lease expenses - variable expenses, short and low value leases  4.0  5.7 Other  54.2  33.0 Total  355.5  286.1 2022 Divestment CRL terminal in India  In May 2022, as a result of the loss of control of Vopak\u2019s CRL terminal in Kandla, India, an exceptional divestment loss of EUR 6.0 million was recorded in the line item Other. The purchase consideration including deferred and contingent components amounted to approximately EUR 39.3 million, with net cash proceeds in the first half of 2022 of EUR 23.9 million. The deferred and contingent components are expected to be received in 2025.  Business development expenses  Business development expenses for an amount of EUR 1.0 million related to an opportunity which was assessed as unlikely to be realized and have been recorded as an Other exceptional expense. There were no other individually material items recognized in Other operating expenses in 2022. 2021 Divestment Jubail Chemicals Storage and Services Company  In the fourth quarter of 2021 an exceptional loss of EUR 0.7 million was recorded related to a partial divestment of a 3% equity stake in the terminal Jubail Chemicals Storage and Services Company (JCSSC) located in Saudi Arabia. After divestment Vopak holds a 22% equity stake in this associate.   There were no other individually material items recognized in Other operating expenses in 2021. ",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfGeneralAndAdministrativeExpenseExplanatory",
    "language": "en",
    "entity": "scheme:724500UL634GFV1KYF10",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
   }
  },
  "pp-value-46-7": {
   "value": "Average number of employees (in FTEs) During the year under review, the Group employed on average 4,061 employees and temporary staff (in FTEs) (2021: 4,250). The movements in the number of own employees at subsidiaries (in FTEs) were as follows: In FTEs  2022  2021 Number at 1 January  3,730  3,713 Joiners  572  475 Leavers  - 554  - 458 Divestment/deconsolidation  - 276  \u2013 Number at 31 December  3,472  3,730 ",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfInformationAboutEmployeesExplanatory",
    "language": "en",
    "entity": "scheme:724500UL634GFV1KYF10",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
   }
  },
  "pp-value-48-8": {
   "value": "Note 2.6 Other operating expenses  A Accounting policies Operating expenses are recognized in the income statement when incurred, e.g. when services are received or goods are consumed. In addition, operating expenses can result from a decrease in future economic benefits related to a decrease of an asset or an increase of a liability that has arisen and which can be measured reliably.   Losses on the sale of assets are presented under Other operating expenses and are recognized as soon as they are foreseen. Costs relating to the identification and selection phases of business development projects are recognized in the statement of income in the year in which the costs are incurred. ",
   "dimensions": {
    "concept": "ifrs-full:DescriptionOfAccountingPolicyForExpensesExplanatory",
    "language": "en",
    "entity": "scheme:724500UL634GFV1KYF10",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
   }
  },
  "pp-value-52-2": {
   "value": "Note 2.7 Result of joint v<span class=\"_ _3\"/>entur<span class=\"_ _7\"/>es and associates A<span class=\"_ _1e\"> </span><span class=\"ff3 fs9\">Accounting policies </span>Joint v<span class=\"_ _7\"/>entures and associates are accounted f<span class=\"_ _7\"/>or using the equity method. For the accounting policies relating to joint vent<span class=\"_ _7\"/>ures and associates, ref<span class=\"_ _7\"/>erence is made to note 3.5. Result of joint vent<span class=\"_ _7\"/>ur<span class=\"_ _7\"/>es and associates In EUR millions <span class=\"_ _206\"> </span>Note <span class=\"_ _76\"> </span>2022 <span class=\"_ _76\"> </span>2021Result of joint v<span class=\"_ _7\"/>entures and associates <span class=\"_ _92\"> </span><span class=\"ff3 fc13\">3.5 <span class=\"_ _bd\"> </span></span>1<span class=\"_ _7\"/>94.7 <span class=\"_ _39\"> </span>215.8 Impairments joint vent<span class=\"_ _7\"/>ures and associates <span class=\"_ _2c\"> </span>3.5,<span class=\"_ _7\"/> 3.8 <span class=\"_ _bd\"> </span><span class=\"ff1 fc1\">- 36.2 <span class=\"_ _3a\"> </span>- 43.5 </span>Re<span class=\"_ _7\"/>versal of impairments joint vent<span class=\"_ _7\"/>ures and associates <span class=\"_ _86\"> </span>3.5,<span class=\"_ _7\"/> 3.8 <span class=\"_ _d0\"> </span><span class=\"ff1 fc1\">3.8 <span class=\"_ _55\"> </span>\u2013 </span>T<span class=\"_ _8\"/>otal <span class=\"_ _24d\"> </span><span class=\"fc0\">162.3 <span class=\"_ _38\"> </span></span>1<span class=\"_ _7\"/>72.3 Joint v<span class=\"_ _7\"/>entures are an important part of the Group. Summarized financial inf<span class=\"_ _7\"/>ormation of our joint vent<span class=\"_ _7\"/>ures and associates on an IFRS basis is presented in note 3.5.    In addition, the ef<span class=\"_ _7\"/>f<span class=\"_ _7\"/>ects of unaudited non-IFRS proportional consolidation on the statement of financial position and statement of income of the Group are presented under \u2018<span class=\"_ _1\"/>Additional information<span class=\"_ _3\"/>\u2019 accompanying this report. 2022 Exceptional gains/losses, w<span class=\"_ _7\"/>ere reported in Result of joint v<span class=\"_ _7\"/>entures and associates as f<span class=\"_ _7\"/>ollows: Impair<span class=\"_ _7\"/>ment SPEC LNG ter<span class=\"_ _3\"/>minal <span class=\"ff1\"> </span>In the second quarter an impairment was recogniz<span class=\"_ _7\"/>ed for the SPEC LNG terminal in Colombia for an amount of EUR 36.2 million. Mainly due to unusual w<span class=\"_ _7\"/>eather conditions in recent years whic<span class=\"_ _3\"/>h have brought a significant amount of rain in Colombia, h<span class=\"_ _7\"/>ydropo<span class=\"_ _7\"/>wer has been a<span class=\"_ _7\"/>vailable as the main source of pow<span class=\"_ _7\"/>er<span class=\"_ _3\"/>, whic<span class=\"_ _3\"/>h resulted in a reduced utilization of the FSRU. In addition, the tight FSRU mark<span class=\"_ _7\"/>et associated with the Russia-Ukraine w<span class=\"_ _7\"/>ar is leading to the opportunity to reduce FSRU costs becoming remote. <span class=\"_ _7\"/>As a result of the abo<span class=\"_ _7\"/>ve there is a decrease in dividend expectations Divestment Ger<span class=\"_ _3\"/>man LNG <span class=\"ff1\"> </span>As a result of <span class=\"_ _9\"/>V<span class=\"_ _3\"/>opak\u2019<span class=\"_ _9\"/>s divestment of its 33.3% shareholding in the German LNG <span class=\"_ _9\"/>T<span class=\"_ _8\"/>erminal GmbH, in the first half of 2022 an impairment rev<span class=\"_ _7\"/>ersal of EUR 3.8 million was recorded. <span class=\"_ _8\"/>This rev<span class=\"_ _7\"/>ersal partially of<span class=\"_ _7\"/>fsets the impairment of EUR 1<span class=\"_ _3\"/>0.8 million recognized in the third quarter of 2021<span class=\"_ _8\"/>. <span class=\"_ _9\"/>The proceeds receiv<span class=\"_ _3\"/>ed amounted to EUR 3.8 million. 2021 Exceptional gains/losses, w<span class=\"_ _7\"/>ere reported in Result of joint v<span class=\"_ _7\"/>entures and associates as f<span class=\"_ _7\"/>ollows: P<span class=\"_ _7\"/>artial r<span class=\"_ _3\"/>elease tax provision <span class=\"ff1\"> </span>In 2021, an ex<span class=\"_ _7\"/>ceptional gain of EUR 2.2 million was recogniz<span class=\"_ _7\"/>ed in the result of joint vent<span class=\"_ _7\"/>ures and associates relating to a partial release of a tax provision that was recogniz<span class=\"_ _7\"/>ed in a joint vent<span class=\"_ _7\"/>ure terminal within the A<span class=\"_ _7\"/>sia &amp; Middle East division at the end of 20<span class=\"_ _3\"/>1<span class=\"_ _3\"/>9. Business develop<span class=\"ws150\">ment <span class=\"_ _4\"/>costs VMH <span class=\"_\"> </span></span><span class=\"ff1\"> </span>In the fourth quarter of 2021, an e<span class=\"_ _7\"/>xceptional loss of EUR 4.8 million w<span class=\"_ _7\"/>as recognized in the Moda Houston terminal (VMH) for business de<span class=\"_ _7\"/>velopment costs. <span class=\"_ _8\"/>This impairment is the result of a strategic revie<span class=\"_ _7\"/>w af<span class=\"_ _3\"/>ter which it w<span class=\"_ _7\"/>as concluded that <span class=\"_ _3\"/>VMH will focus on ammonia and gas projects going for<span class=\"_ _5\"/>ward leading to a write-of<span class=\"_ _3\"/>f of certain business development projects. F<span class=\"_ _7\"/>or impairments recorded for our joint v<span class=\"_ _7\"/>entures and associates, ref<span class=\"_ _3\"/>erence is made to note 3.8 for further details. Note 3.5 J<span class=\"_ _7\"/>oint vent<span class=\"_ _7\"/>ur<span class=\"_ _7\"/>es and associates  V<span class=\"_ _3\"/>opak\u2019<span class=\"_ _9\"/>s interest in the principal joint vent<span class=\"_ _7\"/>ures and associates at year<span class=\"_ _9\"/>-end 2022 consisted of 27 (2021: 26) unlisted joint vent<span class=\"_ _7\"/>ures and 1<span class=\"_ _3\"/>0 (2021: 9) unlisted associates. <span class=\"_ _7\"/>Although the Group conducts a large part of its activities by means of these joint v<span class=\"_ _7\"/>entures and associates, none of these entities are currently individually material f<span class=\"_ _7\"/>or the Group. <span class=\"_ _9\"/>The nat<span class=\"_ _3\"/>ure of<span class=\"_ _7\"/>, and c<span class=\"_ _7\"/>hanges in, the risks associated with its interests in joint vent<span class=\"_ _7\"/>ures and associates is primarily linked to the region and/or the activities. F<span class=\"_ _7\"/>or the disclosure of the nature, e<span class=\"_ _7\"/>xtent and financial ef<span class=\"_ _7\"/>f<span class=\"_ _7\"/>ects of our joint vent<span class=\"_ _7\"/>ures and associates, we mak<span class=\"_ _7\"/>e a distinction in the activities of the divisions Europe &amp; Africa (limited number of oil and c<span class=\"_ _3\"/>hemical terminals), A<span class=\"_ _7\"/>sia &amp; Middle East, (all types of storage terminals, ex<span class=\"_ _7\"/>cept LNG), New Energy &amp; LNG (joint v<span class=\"_ _7\"/>entures and associates with long-term contracts) and China &amp; North A<span class=\"_ _7\"/>sia (mainly industrial terminals). <span class=\"_ _9\"/>T<span class=\"_ _7\"/>he Americas division currently has a number of joint v<span class=\"_ _7\"/>entures and associates mainly operating gas and industrial terminals. No significant judgments were made b<span class=\"_ _7\"/>y the Group with regard to the classification of joint vent<span class=\"_ _7\"/>ures and associates. All material joint ar<span class=\"_ _7\"/>rangements are currently classified as joint vent<span class=\"_ _7\"/>ures because joint control is established by contract and the Group only has rights to the net assets of these entities. <span class=\"_ _9\"/>T<span class=\"_ _7\"/>he Group currently has no material inv<span class=\"_ _7\"/>estment in a joint operation. The Group has se<span class=\"_ _7\"/>veral majority ownerships whic<span class=\"_ _3\"/>h qualify as joint vent<span class=\"_ _7\"/>ures: a 60% majority ownership in LNG <span class=\"_ _8\"/>T<span class=\"_ _9\"/>erminal Altamira in Mexico, a 51% majority ownership in <span class=\"_ _9\"/>V<span class=\"_ _3\"/>opak <span class=\"_ _9\"/>T<span class=\"_ _8\"/>erminals Korea Ltd., a 51% majority ownership in <span class=\"_ _9\"/>V<span class=\"_ _3\"/>opak (Qinzhou) Jet<span class=\"_ _3\"/>t<span class=\"_ _5\"/>y Co., Ltd. and in Guangxi Hualin Jet<span class=\"_ _3\"/>ty Co., Ltd. each, both in China. In Me<span class=\"_ _3\"/>xico, the Group has 50% of the voting rights. In Korea, the partner o<span class=\"_ _7\"/>wns an ex<span class=\"_ _7\"/>ercisable call option right at any time of 1% of the shares and therefore the substantive v<span class=\"_ _7\"/>oting rights of the Group are limited to 50%. In China, for both entities and in India all decisions about the relev<span class=\"_ _7\"/>ant activities of the entity are made based on unanimous consent of the shareholders in accordance with the shareholders agreement concerned. The Group has a 1<span class=\"_ _9\"/>0% equit<span class=\"_ _5\"/>y interest in <span class=\"_ _9\"/>V<span class=\"_ _3\"/>opak <span class=\"_ _9\"/>T<span class=\"_ _9\"/>erminal Eemsha<span class=\"_ _7\"/>ven in the Netherlands whic<span class=\"_ _3\"/>h is classified as an associate as the Group has significant influence. <span class=\"_ _9\"/>T<span class=\"_ _7\"/>he Group has been appointed as operator of this terminal. A<span class=\"_ _7\"/>s operator<span class=\"_ _3\"/>, <span class=\"_ _3\"/>V<span class=\"_ _3\"/>opak has the right to appoint the management board of the terminal. In addition, as 1<span class=\"_ _3\"/>0% shareholder in the entity<span class=\"_ _3\"/>, <span class=\"_ _3\"/>V<span class=\"_ _3\"/>opak is entitled to appoint one of the three members of the Super<span class=\"_ _5\"/>visor<span class=\"_ _5\"/>y Board and is able to participate in the decision making process of the entity<span class=\"_ _3\"/>.  Ref<span class=\"_ _3\"/>erence is made to note 9.1<span class=\"_ _9\"/>1 for an o<span class=\"_ _7\"/>verview of the principal joint vent<span class=\"_ _7\"/>ures and associates. A<span class=\"_ _1e\"> </span><span class=\"ff3 fs9\">Accounting policies </span>Joint v<span class=\"_ _7\"/>entures and associates are accounted f<span class=\"_ _7\"/>or using the equity method, whic<span class=\"_ _7\"/>h involv<span class=\"_ _7\"/>es recognition in the Consolidated statement of income of <span class=\"_ _3\"/>V<span class=\"_ _3\"/>opak\u2019<span class=\"_ _9\"/>s share of the net result of the joint vent<span class=\"_ _7\"/>ures and associates for the y<span class=\"_ _7\"/>ear<span class=\"_ _3\"/>. A<span class=\"_ _7\"/>ccounting policies of joint vent<span class=\"_ _7\"/>ures and associates hav<span class=\"_ _7\"/>e been aligned where necessar<span class=\"_ _5\"/>y to ensure consistency with the policies adopted by the Group. <span class=\"_ _9\"/>V<span class=\"_ _3\"/>opak\u2019<span class=\"_ _9\"/>s interest in a joint vent<span class=\"_ _7\"/>ure or associate is carried in the statement of financial position at its share in the net assets of the joint venture or associate together with goodwill paid on acquisition, less any impairment loss. <span class=\"_ _9\"/>When the share in the losses ex<span class=\"_ _7\"/>ceeds the carr<span class=\"_ _5\"/>ying amount of an equity-accounted company (including an<span class=\"_ _3\"/>y other receivables f<span class=\"_ _7\"/>orming part of the net inv<span class=\"_ _7\"/>estment in the company), the carrying amount is writ<span class=\"_ _3\"/>ten down to nil and recognition of further losses is discontinued, unless we ha<span class=\"_ _7\"/>ve incurred legal or constructiv<span class=\"_ _7\"/>e obligations relating to the company in question. Gr<span class=\"_ _7\"/>oup\u2019<span class=\"_ _9\"/>s share of the t<span class=\"_ _7\"/>otal compr<span class=\"_ _7\"/>ehensive income and the car<span class=\"_ _3\"/>rying amount of joint ventur<span class=\"_ _3\"/>es and associates Joint v<span class=\"_ _7\"/>entures <span class=\"_ _27b\"> </span>Associates <span class=\"_ _27c\"> </span>T<span class=\"_ _8\"/>otal In EUR millions <span class=\"_ _1a7\"> </span><span class=\"fs7 fc0\">2022 <span class=\"_ _1b2\"> </span><span class=\"fc7\">2021 <span class=\"_ _7f\"> </span></span>2022 <span class=\"_ _1b2\"> </span><span class=\"fc7\">2021 <span class=\"_ _1b2\"> </span></span>2022 <span class=\"_ _7f\"> </span><span class=\"fc7\">2021 </span></span>V<span class=\"_ _3\"/>opak's share in net assets <span class=\"_ _27d\"> </span>1,098.2 <span class=\"_ _1bb\"> </span>887<span class=\"_ _1\"/>.4 <span class=\"_ _18a\"> </span>406.9 <span class=\"_ _19c\"> </span>347<span class=\"_ _1\"/>.9 <span class=\"_ _4d\"> </span>1,505.1 <span class=\"_ _4d\"> </span>1,235.3 Goodwill on acquisition <span class=\"_ _27e\"> </span>67<span class=\"_ _1\"/>.3 <span class=\"_ _2f\"> </span>7<span class=\"_ _9\"/>4.2 <span class=\"_ _66\"> </span>1<span class=\"_ _3\"/>0.9 <span class=\"_ _db\"> </span>9.9 <span class=\"_ _45\"> </span>78.2 <span class=\"_ _45\"> </span>84.1 Car<span class=\"_ _7\"/>rying amount at 31 December <span class=\"_ _27f\"> </span><span class=\"fc0\">1,165.5 <span class=\"_ _131\"> </span></span>961<span class=\"_ _3\"/>.6 <span class=\"_ _18a\"> </span>417<span class=\"_ _8\"/>.8 <span class=\"_ _e6\"> </span><span class=\"fcb\">357<span class=\"_ _8\"/>.8 <span class=\"_ _19b\"> </span><span class=\"fc0\">1,583.3 <span class=\"_ _118\"> </span></span>1,319.4 </span>Share in profit or loss <span class=\"_ _280\"> </span><span class=\"ff3 fc13\">2.7 <span class=\"_ _49\"> </span></span>1<span class=\"_ _7\"/>39.2 <span class=\"_ _7e\"> </span>1<span class=\"_ _7\"/>56.6 <span class=\"_ _45\"> </span>55.5 <span class=\"_ _45\"> </span>59.2 <span class=\"_ _18a\"> </span>194.7 <span class=\"_ _18a\"> </span>21<span class=\"_ _7\"/>5.8 Impairments <span class=\"_ _281\"> </span>2.7<span class=\"_ _8\"/>, 3.8 <span class=\"_ _86\"> </span><span class=\"ff1 fc1\">\u2013 <span class=\"_ _e6\"> </span>- 43.5 <span class=\"_ _18a\"> </span>- 36.2 <span class=\"_ _130\"> </span>\u2013 <span class=\"_ _e6\"> </span>- 36.2 <span class=\"_ _18a\"> </span>- 43.5 </span>Re<span class=\"_ _7\"/>versal of impairments <span class=\"_ _1f4\"> </span>2.7<span class=\"_ _1\"/>, 3.8 <span class=\"_ _5a\"> </span><span class=\"ff1 fc1\">3.8 <span class=\"_ _130\"> </span>\u2013 <span class=\"_ _130\"> </span>\u2013 <span class=\"_ _130\"> </span>\u2013 <span class=\"_ _1bc\"> </span>3.8 <span class=\"_ _130\"> </span>\u2013 </span>Net profit 143.0 <span class=\"_ _4f\"> </span>1<span class=\"_ _9\"/>13.1 <span class=\"_ _b1\"> </span>19.3 <span class=\"_ _51\"> </span>59.2 <span class=\"_ _53\"> </span>162.3 <span class=\"_ _53\"> </span>172.3 Other comprehensive income <span class=\"_ _1d1\"> </span><span class=\"ff3 fc13\">5.2 <span class=\"_ _3f\"> </span></span>46.6 <span class=\"_ _100\"> </span>9.7 <span class=\"_ _45\"> </span>22.0 <span class=\"_ _189\"> </span>1<span class=\"_ _7\"/>0.5 <span class=\"_ _45\"> </span>68.6 <span class=\"_ _45\"> </span>20.2 Comprehensiv<span class=\"_ _7\"/>e income 189.6 <span class=\"_ _190\"> </span>122.8 <span class=\"_ _83\"> </span>41<span class=\"_ _3\"/>.3 <span class=\"_ _b1\"> </span>69.7 <span class=\"_ _53\"> </span>230.9 <span class=\"_ _53\"> </span>1<span class=\"_ _7\"/>92.5 Dividends received <span class=\"_ _270\"> </span><span class=\"ff3 fc13\">2.9 <span class=\"_ _190\"> </span></span>- 1<span class=\"_ _7\"/>62.5 <span class=\"_ _7f\"> </span>- 91<span class=\"_ _9\"/>.9 <span class=\"_ _7f\"> </span>- 61<span class=\"_ _9\"/>.3 <span class=\"_ _e6\"> </span>- 42.7 <span class=\"_ _31\"> </span>- 223.8 <span class=\"_ _8d\"> </span>- 1<span class=\"_ _7\"/>34.6 Inv<span class=\"_ _7\"/>estments <span class=\"_ _282\"> </span>34.7 <span class=\"_ _7e\"> </span>1<span class=\"_ _3\"/>04.3 <span class=\"_ _130\"> </span>\u2013 <span class=\"_ _db\"> </span>5.7 <span class=\"_ _45\"> </span>34.7 <span class=\"_ _1bb\"> </span>1<span class=\"_ _9\"/>1<span class=\"_ _7\"/>0.0 Acquisitions <span class=\"_ _283\"> </span>1<span class=\"_ _7\"/>86.1 <span class=\"_ _130\"> </span>\u2013 <span class=\"_ _45\"> </span>40.2 <span class=\"_ _130\"> </span>\u2013 <span class=\"_ _e6\"> </span>226.3 <span class=\"_ _130\"> </span>\u2013 Redemption share capital <span class=\"_ _284\"> </span>\u2013 <span class=\"_ _130\"> </span>\u2013 <span class=\"_ _45\"> </span>- 5.0 <span class=\"_ _130\"> </span>\u2013 <span class=\"_ _45\"> </span>- 5.0 <span class=\"_ _183\"> </span>\u2013 T<span class=\"_ _9\"/>ransfers due to c<span class=\"_ _3\"/>hange in ownership <span class=\"_ _285\"> </span>1<span class=\"_ _9\"/>.3 <span class=\"_ _183\"> </span>\u2013 <span class=\"_ _130\"> </span>\u2013 <span class=\"_ _108\"> </span>- 7<span class=\"_ _d\"/>.7 <span class=\"_ _8b\"> </span>1<span class=\"_ _9\"/>.3 <span class=\"_ _88\"> </span>- 7<span class=\"_ _1\"/>.7 Other <span class=\"_ _286\"> </span>0.1 <span class=\"_ _45\"> </span>- 0.4 <span class=\"_ _130\"> </span>\u2013 <span class=\"_ _db\"> </span>0.1 <span class=\"_ _db\"> </span>0.1 <span class=\"_ _45\"> </span>- 0.3 Exc<span class=\"_ _3\"/>hange diff<span class=\"_ _3\"/>erences <span class=\"_ _287\"> </span>21<span class=\"_ _9\"/>.7 <span class=\"_ _45\"> </span>69.1 <span class=\"_ _1bc\"> </span>8.3 <span class=\"_ _45\"> </span>34.9 <span class=\"_ _189\"> </span>30.0 <span class=\"_ _7e\"> </span>1<span class=\"_ _3\"/>04.0 Car<span class=\"_ _7\"/>rying amount at 31 December <span class=\"_ _27f\"> </span><span class=\"fc0\">1,436.5 <span class=\"_ _19b\"> </span></span>1,165.5 <span class=\"_ _131\"> </span>441<span class=\"_ _7\"/>.3 <span class=\"_ _18a\"> </span>417<span class=\"_ _1\"/>.8 <span class=\"_ _15a\"> </span><span class=\"fc0\">1,877<span class=\"_ _1\"/>.8 <span class=\"_ _118\"> </span><span class=\"fcb\">1,583.3 </span></span>V<span class=\"_ _3\"/>opak's share in net assets <span class=\"_ _27d\"> </span>1,273.1 <span class=\"_ _4d\"> </span>1,098.2 <span class=\"_ _e6\"> </span>424.3 <span class=\"_ _18a\"> </span>406.9 <span class=\"_ _f9\"> </span>1,697<span class=\"_ _d\"/>.4 <span class=\"_ _4d\"> </span>1,505.1 Goodwill on acquisition <span class=\"_ _288\"> </span>1<span class=\"_ _7\"/>63.4 <span class=\"_ _88\"> </span>67<span class=\"_ _1\"/>.3 <span class=\"_ _3f\"> </span>1<span class=\"_ _7\"/>7<span class=\"_ _1\"/>.0 <span class=\"_ _66\"> </span>1<span class=\"_ _3\"/>0.9 <span class=\"_ _7e\"> </span>180.4 <span class=\"_ _45\"> </span>78.2 Car<span class=\"_ _7\"/>rying amount at 31 December <span class=\"_ _27f\"> </span><span class=\"fc0\">1,436.5 <span class=\"_ _19b\"> </span></span>1,165.5 <span class=\"_ _131\"> </span>441<span class=\"_ _7\"/>.3 <span class=\"_ _18a\"> </span>417<span class=\"_ _1\"/>.8 <span class=\"_ _15a\"> </span><span class=\"fc0\">1,877<span class=\"_ _1\"/>.8 <span class=\"_ _118\"> </span><span class=\"fcb\">1,583.3 </span></span>Other comprehensive income is primarily related to the ef<span class=\"_ _3\"/>f<span class=\"_ _7\"/>ective portion of c<span class=\"_ _3\"/>hanges in the fair v<span class=\"_ _7\"/>alue of cash flow hedges within the joint v<span class=\"_ _7\"/>entures, whic<span class=\"_ _3\"/>h are recognized through the statement of comprehensive income. F<span class=\"_ _7\"/>or more information on the impairments recogniz<span class=\"_ _7\"/>ed on the inv<span class=\"_ _7\"/>estments in joint vent<span class=\"_ _7\"/>ures and associates, ref<span class=\"_ _7\"/>erence is made to note 3.8. Inv<span class=\"_ _7\"/>estments and divestments of joint v<span class=\"_ _7\"/>entur<span class=\"_ _3\"/>es and associates 2022 Aegis <span class=\"_ _8\"/>V<span class=\"_ _9\"/>opak <span class=\"_ _8\"/>T<span class=\"_ _8\"/>er<span class=\"_ _7\"/>minals Ltd. and Hindustan <span class=\"_ _9\"/>Aegis LPG Ltd.<span class=\"_ _7\"/> - acquisition <span class=\"ff1\"> </span>On 25 May 2022, <span class=\"_ _9\"/>V<span class=\"_ _3\"/>opak acquired a 49% shareholding in the A<span class=\"_ _3\"/>egis <span class=\"_ _3\"/>V<span class=\"_ _3\"/>opak <span class=\"_ _9\"/>T<span class=\"_ _9\"/>erminals Ltd. entity and a 24% shareholding in the Hindustan A<span class=\"_ _7\"/>egis LPG Ltd. entity<span class=\"_ _3\"/>. <span class=\"_ _9\"/>The successful completion  of the Indian joint vent<span class=\"_ _7\"/>ure with A<span class=\"_ _3\"/>egis, positions <span class=\"_ _3\"/>V<span class=\"_ _3\"/>opak as the largest storage provider f<span class=\"_ _7\"/>or  LPG and c<span class=\"_ _3\"/>hemicals in India. <span class=\"_ _9\"/>The acquisition date f<span class=\"_ _7\"/>air value of the consideration transf<span class=\"_ _3\"/>erred amounts to EUR 226.3 million, of whic<span class=\"_ _3\"/>h EUR 1<span class=\"_ _3\"/>7<span class=\"_ _9\"/>4.2 million was paid in cash and <span class=\"ls6\"> </span>EUR 52.1 million is contingent upon the occurrence of certain future e<span class=\"_ _7\"/>vents. The conditional pa<span class=\"_ _7\"/>yments depend on meeting (mec<span class=\"_ _3\"/>hanical) completion for certain projects (EUR 32.6 million) and ex<span class=\"_ _7\"/>ceeding certain revenue targets in the period up till 30 September 2025 (EUR 1<span class=\"_ _3\"/>9.5 million). <span class=\"_ _9\"/>The cash outflo<span class=\"_ _7\"/>ws for these pa<span class=\"_ _7\"/>yments are currently expected  in the period 2023-2025 and hav<span class=\"_ _7\"/>e been measured based on their discounted value (8%).  The Group is still w<span class=\"_ _7\"/>orking on the notional purc<span class=\"_ _3\"/>hase price allocation for this joint vent<span class=\"_ _7\"/>ure  and associate, and expects to finaliz<span class=\"_ _7\"/>e this within twelve months af<span class=\"_ _3\"/>ter acquisition date.  In connection with these acquisitions, transaction-related expenses w<span class=\"_ _7\"/>ere incurred for EUR 1<span class=\"_ _8\"/>.2 million. Diize - fr<span class=\"_ _7\"/>om subsidiary to joint v<span class=\"_ _7\"/>entur<span class=\"_ _7\"/>e <span class=\"ff1\"> </span>In December 2022, follo<span class=\"_ _7\"/>wing the partial divestment of 50% of the shareholding in Diiz<span class=\"_ _7\"/>e B.V<span class=\"_ _1\"/>. V<span class=\"_ _3\"/>opak derecognized the assets and liabilities of Diiz<span class=\"_ _7\"/>e B.V<span class=\"_ _1\"/>. and recognized the retained 50% shareholding at EUR 0.1 million. Af<span class=\"_ _3\"/>ter the partial divestment, <span class=\"_ _9\"/>V<span class=\"_ _3\"/>opak holds a 50% equity st<span class=\"_ _5\"/>ake whic<span class=\"_ _3\"/>h classifies as a joint venture. Ger<span class=\"_ _7\"/>man <span class=\"_\"> </span>LNG T<span class=\"_ _8\"/>ermina<span class=\"ws3\">l - div<span class=\"_ _7\"/>estment <span class=\"ff1\"> </span></span>As a result of <span class=\"_ _9\"/>V<span class=\"_ _3\"/>opak\u2019<span class=\"_ _9\"/>s divestment of its 33.3% shareholding in the German LNG <span class=\"_ _9\"/>T<span class=\"_ _8\"/>erminal GmbH, an impairment rev<span class=\"_ _7\"/>ersal of EUR 3.8 million was recorded as an e<span class=\"_ _7\"/>xceptional gain. This re<span class=\"_ _7\"/>versal partially of<span class=\"_ _3\"/>fsets the impairment of EUR 1<span class=\"_ _3\"/>0.8 million recognized in the third quarter of 2021<span class=\"_ _8\"/>. Contingent proceeds dependent on the final inv<span class=\"_ _7\"/>estment decision (FID) of   the project amounted to EUR 8.9 million. A<span class=\"_ _7\"/>s at the reporting date respective conditions were not y<span class=\"_ _7\"/>et met.  Thai T<span class=\"_ _8\"/>ank T<span class=\"_ _8\"/>er<span class=\"_ _7\"/>minal <span class=\"_\"> </span>- <span class=\"_ _a\"> </span>part<span class=\"ws3\">ial divestment <span class=\"ff1\"> </span></span>In December 2022, an ex<span class=\"_ _7\"/>ceptional gain of EUR 5.2 million was recorded related to the dilution of 1<span class=\"_ _3\"/>4% equit<span class=\"_ _5\"/>y stake in <span class=\"_ _9\"/>T<span class=\"_ _7\"/>hai <span class=\"_ _9\"/>T<span class=\"_ _9\"/>ank <span class=\"_ _9\"/>T<span class=\"_ _8\"/>erminal Ltd. located in <span class=\"_ _9\"/>Thailand. <span class=\"_ _7\"/>Af<span class=\"_ _7\"/>ter the dilution V<span class=\"_ _3\"/>opak holds an equity st<span class=\"_ _5\"/>ake of 35% whic<span class=\"_ _3\"/>h continues to be classified as a joint vent<span class=\"_ _7\"/>ure.  2021 Jubail Chemicals Stor<span class=\"_ _7\"/>age and Services Compan<span class=\"_ _3\"/>y - partial divestment <span class=\"ff1\"> </span>In the fourth quarter of 2021 an e<span class=\"_ _7\"/>xceptional loss of EUR 0.7 million w<span class=\"_ _7\"/>as recorded related  to a partial divestment of a 3% equity stake in the terminal Jubail Chemicals Storage and Ser<span class=\"_ _5\"/>vices Company (JCSSC) located in Saudi <span class=\"_ _7\"/>Arabia. Af<span class=\"_ _3\"/>ter the divestment <span class=\"_ _9\"/>V<span class=\"_ _3\"/>opak holds a 22% equity st<span class=\"_ _5\"/>ake in the associate.   Summar<span class=\"_ _7\"/>ized inf<span class=\"_ _7\"/>or<span class=\"_ _3\"/>mation of joint ventur<span class=\"_ _7\"/>es and associates on a 1<span class=\"_ _9\"/>0<span class=\"_ _5\"/>0% basis The f<span class=\"_ _7\"/>ollowing inf<span class=\"_ _7\"/>ormation reflects the amounts presented in the financial statements of the joint vent<span class=\"_ _7\"/>ures and associates adjusted for dif<span class=\"_ _3\"/>f<span class=\"_ _7\"/>erences in accounting policies bet<span class=\"_ _5\"/>w<span class=\"_ _7\"/>een the Group and the joint vent<span class=\"_ _7\"/>ures and associates and, when applicable, the ef<span class=\"_ _3\"/>fects of the purc<span class=\"_ _3\"/>hase price allocation performed by the Group with regard to the acquisition of the joint vent<span class=\"_ _7\"/>ure or associate. Summar<span class=\"_ _3\"/>ized statement of t<span class=\"_ _3\"/>otal comprehensiv<span class=\"_ _7\"/>e income T<span class=\"_ _8\"/>otal joint Asia &amp;   China &amp; New Energ<span class=\"_ _7\"/>y vent<span class=\"_ _7\"/>ures and of whic<span class=\"_ _7\"/>h  joint of whic<span class=\"_ _7\"/>h  Amer<span class=\"_ _7\"/>icas Middle East North Asia <span class=\"_ _26\"> </span>Europe <span class=\"_ _5\"/>&amp; Africa &amp; LNG <span class=\"_ _1bb\"> </span>Other associates vent<span class=\"_ _7\"/>ures associates In EUR millions <span class=\"_ _19e\"> </span>2022 <span class=\"_ _289\"> </span><span class=\"fc7\">2021 <span class=\"_ _289\"> </span></span>2022 <span class=\"_ _289\"> </span><span class=\"fc7\">2021 <span class=\"_ _8f\"> </span></span>2022 <span class=\"_ _289\"> </span><span class=\"fc7\">2021 <span class=\"_ _289\"> </span></span>2022 <span class=\"_ _289\"> </span><span class=\"fc7\">2021 <span class=\"_ _8f\"> </span></span>2022 <span class=\"_ _289\"> </span><span class=\"fc7\">2021 <span class=\"_ _289\"> </span></span>2022 <span class=\"_ _289\"> </span><span class=\"fc7\">2021 <span class=\"_ _8f\"> </span></span>2022 <span class=\"_ _289\"> </span><span class=\"fc7\">2021 <span class=\"_ _289\"> </span></span>2022 <span class=\"_ _8f\"> </span><span class=\"fc7\">2021 <span class=\"_ _289\"> </span></span>2022 <span class=\"_ _289\"> </span>2021Re<span class=\"_ _7\"/>venues <span class=\"_ _e5\"> </span>1<span class=\"_ _7\"/>97<span class=\"_ _1\"/>.3 <span class=\"_ _8e\"> </span>1<span class=\"_ _7\"/>55.6 <span class=\"_ _15b\"> </span>7<span class=\"_ _9\"/>41<span class=\"_ _9\"/>.5 <span class=\"_ _147\"> </span>606.4 <span class=\"_ _8f\"> </span>221<span class=\"_ _8\"/>.3 <span class=\"_ _8e\"> </span>213.8 <span class=\"_ _9d\"> </span>49.6 <span class=\"_ _9d\"> </span>52.0 <span class=\"_ _8e\"> </span>31<span class=\"_ _7\"/>6.1 <span class=\"_ _147\"> </span>303.2 <span class=\"_ _aa\"> </span>1<span class=\"_ _9\"/>.0 <span class=\"_ _d2\"> </span>\u2013 <span class=\"_ _1d\"> </span>1,526.8 <span class=\"_ _13\"> </span>1,331<span class=\"_ _9\"/>.0 <span class=\"_ _147\"> </span><span class=\"ff41\">895.8 <span class=\"_ _8e\"> </span>81<span class=\"_ _7\"/>0.1 <span class=\"_ _8f\"> </span>631<span class=\"_ _8\"/>.0 <span class=\"_ _90\"> </span>520.9 </span>Other income <span class=\"_ _a9\"> </span>40.0 <span class=\"_ _19\"> </span>39.1 <span class=\"_ _22c\"> </span>5.6 <span class=\"_ _233\"> </span>1<span class=\"_ _3\"/>0.7 <span class=\"_ _1b\"> </span>1<span class=\"_ _7\"/>8.7 <span class=\"_ _1b\"> </span>1<span class=\"_ _7\"/>2.0 <span class=\"_ _156\"> </span>1<span class=\"_ _9\"/>.1 <span class=\"_ _9d\"> </span>- 0.2 <span class=\"_ _17\"> </span><span class=\"ls9e wsec\">111.<span class=\"_ _4\"/>5<span class=\"_ _4\"> </span> <span class=\"_ _8e\"> </span></span>1<span class=\"_ _7\"/>55.3 <span class=\"_ _d2\"> </span>\u2013 <span class=\"_ _d2\"> </span>\u2013 <span class=\"_ _8f\"> </span>1<span class=\"_ _3\"/>7<span class=\"_ _7\"/>6.9 <span class=\"_ _8e\"> </span>21<span class=\"_ _7\"/>6.9 <span class=\"_ _9d\"> </span><span class=\"ff41\">56.4 <span class=\"_ _289\"> </span>1<span class=\"_ _3\"/>09.9 <span class=\"_ _8e\"> </span>1<span class=\"_ _7\"/>20.5 <span class=\"_ _15b\"> </span>1<span class=\"_ _3\"/>07<span class=\"_ _8\"/>.0 </span>Operating expenses <span class=\"_ _165\"> </span>- 1<span class=\"_ _7\"/>47<span class=\"_ _1\"/>.9 <span class=\"_ _10a\"> </span>- 1<span class=\"_ _7\"/>23.3 <span class=\"_ _37\"> </span>- 21<span class=\"_ _3\"/>7<span class=\"_ _8\"/>.5 <span class=\"_ _10a\"> </span>- 1<span class=\"_ _3\"/>33.8 <span class=\"_ _90\"> </span>- 73.4 <span class=\"_ _147\"> </span>- 58.3 <span class=\"_ _8e\"> </span>- 1<span class=\"_ _7\"/>9.3 <span class=\"_ _90\"> </span>- 18.5 <span class=\"_ _10a\"> </span>- 1<span class=\"_ _3\"/>09.9 <span class=\"_ _147\"> </span>- 99.9 <span class=\"_ _19\"> </span>- 2.9 <span class=\"_ _9d\"> </span>- 0.9 <span class=\"_ _1dc\"> </span>- 570.9 <span class=\"_ _1dc\"> </span>- 434.7 <span class=\"_ _10a\"> </span><span class=\"ff41\">- 31<span class=\"_ _3\"/>2.5 <span class=\"_ _27a\"> </span>- 27<span class=\"_ _3\"/>6.8 <span class=\"_ _1dc\"> </span>- 258.4 <span class=\"_ _37\"> </span>- 1<span class=\"_ _3\"/>57<span class=\"_ _1\"/>.9 </span>EBITD<span class=\"_ _7\"/>A 89.4 <span class=\"_ _21c\"> </span>71.4 <span class=\"_ _b\"> </span>529.6 <span class=\"_ _b\"> </span>483.3 <span class=\"_ _b\"> </span>166.6 <span class=\"_ _147\"> </span>167<span class=\"_ _8\"/>.5 <span class=\"_ _1a\"> </span>31<span class=\"_ _3\"/>.4 <span class=\"_ _21c\"> </span>33.3 <span class=\"_ _90\"> </span>317<span class=\"_ _1\"/>.7 <span class=\"_ _b\"> </span>358.6 <span class=\"_ _17\"> </span>- 1.9 <span class=\"_ _143\"> </span>- 0.9 <span class=\"_ _192\"> </span>1,132.8 <span class=\"_ _28\"> </span>1,1<span class=\"_ _9\"/>13.2 <span class=\"_ _232\"> </span><span class=\"ff19\">639.7 <span class=\"_ _b\"> </span>643.2 <span class=\"_ _232\"> </span>493.1 <span class=\"_ _b\"> </span>470.0 </span>Depreciation and amortization <span class=\"_ _19c\"> </span>- 28.8 <span class=\"_ _147\"> </span>- 20.4 <span class=\"_ _10a\"> </span>- 1<span class=\"_ _7\"/>95.3 <span class=\"_ _10a\"> </span>- 1<span class=\"_ _3\"/>58.7 <span class=\"_ _8f\"> </span>- 41<span class=\"_ _9\"/>.2 <span class=\"_ _147\"> </span>- 49.4 <span class=\"_ _8e\"> </span>- 1<span class=\"_ _7\"/>3.2 <span class=\"_ _8e\"> </span>- 1<span class=\"_ _7\"/>3.2 <span class=\"_ _147\"> </span>- 80.5 <span class=\"_ _8f\"> </span>- 91<span class=\"_ _9\"/>.4 <span class=\"_ _d2\"> </span>\u2013 <span class=\"_ _d2\"> </span>\u2013 <span class=\"_ _10b\"> </span>- 359.0 <span class=\"_ _1dc\"> </span>- 333.1 <span class=\"_ _10a\"> </span><span class=\"ff41\">- 1<span class=\"_ _7\"/>89.1 <span class=\"_ _37\"> </span>- 1<span class=\"_ _7\"/>87<span class=\"_ _1\"/>.1 <span class=\"_ _10a\"> </span>- 1<span class=\"_ _7\"/>69.9 <span class=\"_ _10a\"> </span>- 1<span class=\"_ _3\"/>46.0 </span>Impairment <span class=\"_ _1a6\"> </span>\u2013 <span class=\"_ _9d\"> </span>- 9.7 <span class=\"_ _d2\"> </span>\u2013 <span class=\"_ _9d\"> </span>- 2.1 <span class=\"_ _d2\"> </span>\u2013 <span class=\"_ _19\"> </span>- 0.5 <span class=\"_ _d2\"> </span>\u2013 <span class=\"_ _d2\"> </span>\u2013 <span class=\"_ _147\"> </span>- 80.9 <span class=\"_ _147\"> </span>- 29.0 <span class=\"_ _d2\"> </span>\u2013 <span class=\"_ _d2\"> </span>\u2013 <span class=\"_ _90\"> </span>- 80.9 <span class=\"_ _8f\"> </span>- 41<span class=\"_ _9\"/>.3 <span class=\"_ _16\"> </span><span class=\"ff41\">1<span class=\"_ _9\"/>1<span class=\"_ _9\"/>.6 <span class=\"_ _8f\"> </span>- 41<span class=\"_ _9\"/>.2 <span class=\"_ _147\"> </span>- 92.5 <span class=\"_ _9d\"> </span>- 0.1 </span>Operating pr<span class=\"_ _7\"/>ofit (EBIT) 60.6 <span class=\"_ _21c\"> </span>41.3 <span class=\"_ _b\"> </span>334.3 <span class=\"_ _b\"> </span>322.5 <span class=\"_ _b\"> </span>125.4 <span class=\"_ _8f\"> </span>1<span class=\"_ _9\"/>17<span class=\"_ _1\"/>.6 <span class=\"_ _21c\"> </span>18.2 <span class=\"_ _17\"> </span>20.1 <span class=\"_ _b\"> </span>156.3 <span class=\"_ _b\"> </span>238.2 <span class=\"_ _17\"> </span>- 1.9 <span class=\"_ _143\"> </span>- 0.9 <span class=\"_ _b\"> </span>692.9 <span class=\"_ _232\"> </span>738.8 <span class=\"_ _b\"> </span><span class=\"ff19\">462.2 <span class=\"_ _232\"> </span>414.9 <span class=\"_ _b\"> </span>230.7 <span class=\"_ _b\"> </span>323.9 </span>Net finance costs <span class=\"_ _258\"> </span>- 1<span class=\"_ _3\"/>7<span class=\"_ _1\"/>.1 <span class=\"_ _8e\"> </span>- 1<span class=\"_ _7\"/>2.9 <span class=\"_ _147\"> </span>- 78.7 <span class=\"_ _142\"> </span>- 47<span class=\"_ _1\"/>.6 <span class=\"_ _8e\"> </span>- 1<span class=\"_ _7\"/>0.2 <span class=\"_ _9d\"> </span>- 9.1 <span class=\"_ _19\"> </span>- 4.9 <span class=\"_ _9d\"> </span>- 5.6 <span class=\"_ _90\"> </span>- 70.2 <span class=\"_ _147\"> </span>- 65.5 <span class=\"_ _d2\"> </span>\u2013 <span class=\"_ _d2\"> </span>\u2013 <span class=\"_ _fe\"> </span>- 181<span class=\"_ _9\"/>.1 <span class=\"_ _1dc\"> </span>- 140.7 <span class=\"_ _147\"> </span><span class=\"ff41\">- 78.4 <span class=\"_ _147\"> </span>- 52.3 <span class=\"_ _10a\"> </span>- 1<span class=\"_ _3\"/>02.7 <span class=\"_ _147\"> </span>- 88.4 </span>Income tax <span class=\"_ _28a\"> </span>- 0.1 <span class=\"_ _9d\"> </span>- 0.2 <span class=\"_ _289\"> </span>- 1<span class=\"_ _3\"/>0.1 <span class=\"_ _147\"> </span>- 20.8 <span class=\"_ _90\"> </span>- 25.3 <span class=\"_ _90\"> </span>- 16.6 <span class=\"_ _9d\"> </span>- 2.4 <span class=\"_ _9d\"> </span>- 2.7 <span class=\"_ _147\"> </span>- 34.9 <span class=\"_ _90\"> </span>- 62.1 <span class=\"_ _d2\"> </span>\u2013 <span class=\"_ _d2\"> </span>\u2013 <span class=\"_ _147\"> </span>- 72.8 <span class=\"_ _27a\"> </span>- 1<span class=\"_ _9\"/>02.4 <span class=\"_ _90\"> </span><span class=\"ff41\">- 72.0 <span class=\"_ _147\"> </span>- 78.5 <span class=\"_ _19\"> </span>- 0.8 <span class=\"_ _147\"> </span>- 23.9 </span>Net profit 43.4 <span class=\"_ _17\"> </span>28.2 <span class=\"_ _b\"> </span>245.5 <span class=\"_ _232\"> </span>254.1 <span class=\"_ _17\"> </span>89.9 <span class=\"_ _1a\"> </span>91<span class=\"_ _3\"/>.9 <span class=\"_ _1a\"> </span>1<span class=\"_ _7\"/>0.9 <span class=\"_ _19\"> </span>1<span class=\"_ _9\"/>1<span class=\"_ _7\"/>.8 <span class=\"_ _1a\"> </span>51<span class=\"_ _3\"/>.2 <span class=\"_ _147\"> </span>1<span class=\"_ _3\"/>1<span class=\"_ _3\"/>0.6 <span class=\"_ _21c\"> </span>- 1<span class=\"_ _3\"/>.9 <span class=\"_ _120\"> </span>- 0.9 <span class=\"_ _232\"> </span>439.0 <span class=\"_ _b\"> </span>495.7 <span class=\"_ _147\"> </span><span class=\"ff19\">31<span class=\"_ _9\"/>1.8 <span class=\"_ _b\"> </span>284.1 <span class=\"_ _147\"> </span>127<span class=\"_ _1\"/>.2 <span class=\"_ _147\"> </span>21<span class=\"_ _9\"/>1.6 </span>Other comprehensive income <span class=\"_ _88\"> </span>42.8 <span class=\"_ _b2\"> </span>- 7<span class=\"_ _1\"/>.4 <span class=\"_ _b2\"> </span>87<span class=\"_ _8\"/>.1 <span class=\"_ _9d\"> </span>44.2 <span class=\"_ _d2\"> </span>\u2013 <span class=\"_ _d2\"> </span>\u2013 <span class=\"_ _d2\"> </span>\u2013 <span class=\"_ _d2\"> </span>\u2013 <span class=\"_ _19\"> </span>46.5 <span class=\"_ _9d\"> </span>22.9 <span class=\"_ _d2\"> </span>\u2013 <span class=\"_ _d2\"> </span>\u2013 <span class=\"_ _8f\"> </span>1<span class=\"_ _7\"/>7<span class=\"_ _3\"/>6.4 <span class=\"_ _19\"> </span>59.7 <span class=\"_ _9d\"> </span><span class=\"ff41\">93.5 <span class=\"_ _1b\"> </span>1<span class=\"_ _7\"/>9.9 <span class=\"_ _9d\"> </span>82.9 <span class=\"_ _19\"> </span>39.8 </span>T<span class=\"_ _8\"/>otal comprehensiv<span class=\"_ _7\"/>e income <span class=\"_ _83\"> </span><span class=\"fc0\">86.2 <span class=\"_ _17\"> </span></span>20.8 <span class=\"_ _b\"> </span><span class=\"fc0\">332.6 <span class=\"_ _b\"> </span></span>298.3 <span class=\"_ _21c\"> </span><span class=\"fc0\">89.9 <span class=\"_ _21c\"> </span></span>91<span class=\"_ _7\"/>.9 <span class=\"_ _1a\"> </span>1<span class=\"_ _3\"/>0.9 <span class=\"_ _19\"> </span>1<span class=\"_ _3\"/>1<span class=\"_ _7\"/>.8 <span class=\"_ _19\"> </span>97<span class=\"_ _8\"/>.7 <span class=\"_ _b\"> </span><span class=\"fcb\">133.5 <span class=\"_ _17\"> </span></span>- 1.9 <span class=\"_ _143\"> </span><span class=\"fcb\">- 0.9 <span class=\"_ _b\"> </span></span>615.4 <span class=\"_ _232\"> </span><span class=\"fcb\">555.4 <span class=\"_ _b\"> </span></span><span class=\"ff19\">405.3 <span class=\"_ _232\"> </span><span class=\"fcb\">304.0 <span class=\"_ _13c\"> </span></span>21<span class=\"_ _3\"/>0.1 <span class=\"_ _13c\"> </span><span class=\"fcb\">251<span class=\"_ _7\"/>.4 </span></span>V<span class=\"_ _3\"/>opak's share of net profit <span class=\"_ _1ad\"> </span>1<span class=\"_ _3\"/>4.5 <span class=\"_ _3a\"> </span>7<span class=\"_ _8\"/>.2 <span class=\"_ _9d\"> </span>79.0 <span class=\"_ _19\"> </span>86.1 <span class=\"_ _9d\"> </span>40.2 <span class=\"_ _19\"> </span>38.9 <span class=\"_ _22c\"> </span>3.0 <span class=\"_ _155\"> </span>4.0 <span class=\"_ _9d\"> </span>26.5 <span class=\"_ _19\"> </span>36.5 <span class=\"_ _9d\"> </span>- 0.9 <span class=\"_ _19\"> </span>- 0.4 <span class=\"_ _90\"> </span>162.3 <span class=\"_ _90\"> </span>1<span class=\"_ _7\"/>72.3 <span class=\"_ _8e\"> </span><span class=\"ff41\">1<span class=\"_ _7\"/>43.0 <span class=\"_ _8f\"> </span>1<span class=\"_ _9\"/>13.1 <span class=\"_ _19\"> </span>1<span class=\"_ _7\"/>9.3 <span class=\"_ _19\"> </span>59.2 </span>V<span class=\"_ _3\"/>opak's share of other comprehensive income <span class=\"_ _5c\"> </span>21<span class=\"_ _8\"/>.4 <span class=\"_ _19\"> </span>- 3.7 <span class=\"_ _9d\"> </span>24.0 <span class=\"_ _1b\"> </span>1<span class=\"_ _7\"/>2.5 <span class=\"_ _d2\"> </span>\u2013 <span class=\"_ _d2\"> </span>\u2013 <span class=\"_ _d2\"> </span>\u2013 <span class=\"_ _d2\"> </span>\u2013 <span class=\"_ _9d\"> </span>23.2 <span class=\"_ _11\"> </span>1<span class=\"_ _9\"/>1<span class=\"_ _9\"/>.4 <span class=\"_ _d2\"> </span>\u2013 <span class=\"_ _d2\"> </span>\u2013 <span class=\"_ _9d\"> </span>68.6 <span class=\"_ _19\"> </span>20.2 <span class=\"_ _9d\"> </span><span class=\"ff41\">46.6 <span class=\"_ _155\"> </span>9.7 <span class=\"_ _9d\"> </span>22.0 <span class=\"_ _1b\"> </span>1<span class=\"_ _7\"/>0.5 </span>V<span class=\"_ _9\"/>opak's share of total comprehensiv<span class=\"_ _7\"/>e income <span class=\"_ _173\"> </span><span class=\"fc0\">35.9 <span class=\"_ _60\"> </span></span>3.5 <span class=\"_ _232\"> </span><span class=\"fc0\">103.0 <span class=\"_ _120\"> </span></span>98.6 <span class=\"_ _17\"> </span><span class=\"fc0\">40.2 <span class=\"_ _21c\"> </span></span>38.9 <span class=\"_ _60\"> </span><span class=\"fc0\">3.0 <span class=\"_ _60\"> </span></span>4.0 <span class=\"_ _17\"> </span><span class=\"fc0\">49.7 <span class=\"_ _19\"> </span></span>47<span class=\"_ _8\"/>.9 <span class=\"_ _120\"> </span><span class=\"fc0\">- 0.9 <span class=\"_ _120\"> </span></span>- 0.4 <span class=\"_ _b\"> </span><span class=\"fc0\">230.9 <span class=\"_ _232\"> </span></span>192.5 <span class=\"_ _232\"> </span><span class=\"ff19 fc0\">189.6 <span class=\"_ _b\"> </span><span class=\"fcb\">122.8 <span class=\"_ _21c\"> </span></span>41.3 <span class=\"_ _120\"> </span><span class=\"fcb\">69.7 </span></span>2022 In Marc<span class=\"_ _3\"/>h 2020, a fire incident took place in the adjacent RAPID facility<span class=\"_ _3\"/>, leading to a subsequent closure of the facility<span class=\"_ _3\"/>. One of PT2SB\u2019<span class=\"_ _9\"/>s anc<span class=\"_ _7\"/>hor customers has since been out of operation. F<span class=\"_ _7\"/>ollowing another incident in 2022, the refinery is only expected to resume first half of 2023. <span class=\"_ _9\"/>T<span class=\"_ _7\"/>he refiner<span class=\"_ _5\"/>y closure weak<span class=\"_ _7\"/>ened its liquidit<span class=\"_ _5\"/>y position whic<span class=\"_ _3\"/>h may impact PT2SB\u2019<span class=\"_ _9\"/>s financial performance in 2023. <span class=\"_ _7\"/>As at 31 December 2022, PT2SB<span class=\"_ _7\"/>, classified as an associate, has reported net accounts receivable balances f<span class=\"_ _7\"/>or contractually deliv<span class=\"_ _7\"/>ered ser<span class=\"_ _5\"/>vices of around EUR 1<span class=\"_ _3\"/>73 million (31 December 2021: EUR 88 million) (on a 1<span class=\"_ _3\"/>00% basis). Mitigating the situation is a priority for PT2SB and its shareholders. 2021 In the third quarter of 2021, an ex<span class=\"_ _7\"/>ceptional gain of EUR 2.2 million was recogniz<span class=\"_ _7\"/>ed in the result of joint vent<span class=\"_ _7\"/>ures and associates relating to a partial release of a tax provision that was recognized in a joint v<span class=\"_ _7\"/>enture terminal within the <span class=\"_ _3\"/>Asia &amp; Middle East division at the end of 20<span class=\"_ _3\"/>1<span class=\"_ _3\"/>9. F<span class=\"_ _7\"/>or more information on the impairments recogniz<span class=\"_ _7\"/>ed on the inv<span class=\"_ _7\"/>estments in joint vent<span class=\"_ _7\"/>ures and associates, ref<span class=\"_ _7\"/>erence is made to note 3.8. Summar<span class=\"_ _3\"/>ized statement of financial position at 31 December T<span class=\"_ _8\"/>otal joint Asia &amp;   China &amp; New Energ<span class=\"_ _7\"/>y vent<span class=\"_ _7\"/>ures and of whic<span class=\"_ _7\"/>h  joint of whic<span class=\"_ _7\"/>h  Amer<span class=\"_ _7\"/>icas Middle East North Asia <span class=\"_ _26\"> </span>Europe <span class=\"_ _5\"/>&amp; Africa &amp; LNG <span class=\"_ _1bb\"> </span>Other associates vent<span class=\"_ _7\"/>ures associates In EUR millions <span class=\"_ _19e\"> </span>2022 <span class=\"_ _289\"> </span><span class=\"fc7\">2021 <span class=\"_ _289\"> </span></span>2022 <span class=\"_ _289\"> </span><span class=\"fc7\">2021 <span class=\"_ _8f\"> </span></span>2022 <span class=\"_ _289\"> </span><span class=\"fc7\">2021 <span class=\"_ _289\"> </span></span>2022 <span class=\"_ _289\"> </span><span class=\"fc7\">2021 <span class=\"_ _8f\"> </span></span>2022 <span class=\"_ _289\"> </span><span class=\"fc7\">2021 <span class=\"_ _289\"> </span></span>2022 <span class=\"_ _289\"> </span><span class=\"fc7\">2021 <span class=\"_ _8f\"> </span></span>2022 <span class=\"_ _289\"> </span><span class=\"fc7\">2021 <span class=\"_ _289\"> </span></span>2022 <span class=\"_ _8f\"> </span><span class=\"fc7\">2021 <span class=\"_ _289\"> </span></span>2022 <span class=\"_ _289\"> </span>2021 Non-current assets <span class=\"_ _165\"> </span>1,205.0 <span class=\"_ _e7\"> </span>1,1<span class=\"_ _7\"/>30.6 <span class=\"_ _e7\"> </span>3,555.8 <span class=\"_ _13\"> </span>2,771<span class=\"_ _9\"/>.0 <span class=\"_ _1dc\"> </span>1,1<span class=\"_ _3\"/>0<span class=\"_ _3\"/>1<span class=\"_ _9\"/>.9 <span class=\"_ _1d\"> </span>1,000.8 <span class=\"_ _90\"> </span>205.4 <span class=\"_ _147\"> </span>209.9 <span class=\"_ _e7\"> </span>1,858.2 <span class=\"_ _e7\"> </span>1,984.8 <span class=\"_ _22c\"> </span>0.5 <span class=\"_ _155\"> </span>0.2 <span class=\"_ _12\"> </span>7<span class=\"_ _8\"/>,926.8 <span class=\"_ _27a\"> </span>7<span class=\"_ _1\"/>,097<span class=\"_ _1\"/>.3 <span class=\"_ _e7\"> </span><span class=\"ff41\">4,683.2 <span class=\"_ _10b\"> </span>3,977<span class=\"_ _1\"/>.2 <span class=\"_ _e7\"> </span>3,243.6 <span class=\"_ _18\"> </span>3,1<span class=\"_ _7\"/>20.1 </span>Cash and cash equivalents <span class=\"_ _161\"> </span>1<span class=\"_ _9\"/>7<span class=\"_ _8\"/>.2 <span class=\"_ _19\"> </span>18.6 <span class=\"_ _147\"> </span>388.0 <span class=\"_ _90\"> </span>319.2 <span class=\"_ _8f\"> </span>1<span class=\"_ _7\"/>91<span class=\"_ _9\"/>.9 <span class=\"_ _90\"> </span>146.2 <span class=\"_ _19\"> </span>1<span class=\"_ _7\"/>0.7 <span class=\"_ _1b\"> </span>1<span class=\"_ _7\"/>0.6 <span class=\"_ _90\"> </span>163.4 <span class=\"_ _90\"> </span>1<span class=\"_ _7\"/>39.4 <span class=\"_ _22c\"> </span>0.5 <span class=\"_ _aa\"> </span>1<span class=\"_ _9\"/>.0 <span class=\"_ _8f\"> </span>771<span class=\"_ _8\"/>.7 <span class=\"_ _90\"> </span>635.0 <span class=\"_ _147\"> </span><span class=\"ff41\">366.7 <span class=\"_ _147\"> </span>308.4 <span class=\"_ _90\"> </span>405.0 <span class=\"_ _147\"> </span>326.6 </span>Other current assets <span class=\"_ _135\"> </span>57<span class=\"_ _d\"/>.9 <span class=\"_ _19\"> </span>50.2 <span class=\"_ _90\"> </span>194.9 <span class=\"_ _147\"> </span>222.8 <span class=\"_ _9d\"> </span>48.9 <span class=\"_ _14\"> </span>51<span class=\"_ _9\"/>.1 <span class=\"_ _1b\"> </span>1<span class=\"_ _3\"/>0.0 <span class=\"_ _11\"> </span>1<span class=\"_ _7\"/>7<span class=\"_ _1\"/>.3 <span class=\"_ _9d\"> </span>85.2 <span class=\"_ _289\"> </span>1<span class=\"_ _3\"/>04.1 <span class=\"_ _155\"> </span>0.6 <span class=\"_ _22c\"> </span>0.9 <span class=\"_ _116\"> </span>397<span class=\"_ _1\"/>.5 <span class=\"_ _90\"> </span>446.4 <span class=\"_ _8e\"> </span><span class=\"ff41\">1<span class=\"_ _7\"/>94.1 <span class=\"_ _90\"> </span>169.1 <span class=\"_ _147\"> </span>203.4 <span class=\"_ _116\"> </span>277<span class=\"_ _1\"/>.3 </span>T<span class=\"_ _8\"/>otal assets 1280.1 <span class=\"_ _192\"> </span>1,199.4 <span class=\"_ _192\"> </span>4,138.7 <span class=\"_ _192\"> </span>3,313.0 <span class=\"_ _192\"> </span>1,342.7 <span class=\"_ _192\"> </span>1,198.1 <span class=\"_ _b\"> </span>226.1 <span class=\"_ _147\"> </span>237<span class=\"_ _8\"/>.8 <span class=\"_ _b3\"> </span>2,1<span class=\"_ _7\"/>06.8 <span class=\"_ _192\"> </span>2,228.3 <span class=\"_ _ad\"> </span>1.6 <span class=\"_ _27\"> </span>2.1 <span class=\"_ _192\"> </span>9,096.0 <span class=\"_ _b3\"> </span>8,1<span class=\"_ _7\"/>78.7 <span class=\"_ _192\"> </span><span class=\"ff19\">5,244.0 <span class=\"_ _192\"> </span>4,454.7 <span class=\"_ _192\"> </span>3,852.0 <span class=\"_ _192\"> </span>3,724.0 </span>Financial non-current liabilities <span class=\"_ _1b2\"> </span>386.7 <span class=\"_ _147\"> </span>363.1 <span class=\"_ _e7\"> </span>1,539.4 <span class=\"_ _15\"> </span>1,47<span class=\"_ _3\"/>6.0 <span class=\"_ _147\"> </span>322.2 <span class=\"_ _8e\"> </span>319.2 <span class=\"_ _147\"> </span>136.0 <span class=\"_ _90\"> </span>1<span class=\"_ _7\"/>49.6 <span class=\"_ _147\"> </span>922.3 <span class=\"_ _90\"> </span>989.3 <span class=\"_ _d2\"> </span>\u2013 <span class=\"_ _d2\"> </span>\u2013 <span class=\"_ _e7\"> </span>3,306.6 <span class=\"_ _12\"> </span>3,297<span class=\"_ _1\"/>.2 <span class=\"_ _e7\"> </span><span class=\"ff41\">1,583.1 <span class=\"_ _e7\"> </span>1,470.7 <span class=\"_ _e7\"> </span>1,723.5 <span class=\"_ _e7\"> </span>1,826.5 </span>Other non-current liabilities <span class=\"_ _161\"> </span>2.3 <span class=\"_ _155\"> </span>9.1 <span class=\"_ _8e\"> </span>1<span class=\"_ _3\"/>08.5 <span class=\"_ _8e\"> </span>154.2 <span class=\"_ _9d\"> </span>28.6 <span class=\"_ _9d\"> </span>25.5 <span class=\"_ _1b\"> </span>1<span class=\"_ _7\"/>2.7 <span class=\"_ _1b\"> </span>1<span class=\"_ _7\"/>3.8 <span class=\"_ _90\"> </span>183.0 <span class=\"_ _147\"> </span>250.8 <span class=\"_ _d2\"> </span>\u2013 <span class=\"_ _d2\"> </span>\u2013 <span class=\"_ _147\"> </span>335.1 <span class=\"_ _147\"> </span>453.4 <span class=\"_ _8e\"> </span><span class=\"ff41\">1<span class=\"_ _7\"/>36.7 <span class=\"_ _147\"> </span>205.4 <span class=\"_ _8e\"> </span>1<span class=\"_ _7\"/>98.4 <span class=\"_ _147\"> </span>248.0 </span>Financial current liabilities <span class=\"_ _f6\"> </span>1<span class=\"_ _7\"/>4.2 <span class=\"_ _19\"> </span>16.6 <span class=\"_ _147\"> </span>484.4 <span class=\"_ _90\"> </span>164.4 <span class=\"_ _233\"> </span>31<span class=\"_ _9\"/>.8 <span class=\"_ _19\"> </span>12.9 <span class=\"_ _19\"> </span>1<span class=\"_ _7\"/>5.6 <span class=\"_ _11\"> </span>1<span class=\"_ _3\"/>7<span class=\"_ _1\"/>.6 <span class=\"_ _8e\"> </span>138.6 <span class=\"_ _90\"> </span>1<span class=\"_ _7\"/>25.6 <span class=\"_ _d2\"> </span>\u2013 <span class=\"_ _d2\"> </span>\u2013 <span class=\"_ _147\"> </span>684.6 <span class=\"_ _116\"> </span>337<span class=\"_ _8\"/>.1 <span class=\"_ _8f\"> </span><span class=\"ff41\">461<span class=\"_ _8\"/>.3 <span class=\"_ _8e\"> </span>150.0 <span class=\"_ _147\"> </span>223.3 <span class=\"_ _116\"> </span>187<span class=\"_ _1\"/>.1 </span>Other current liabilities <span class=\"_ _166\"> </span>46.5 <span class=\"_ _16\"> </span>47<span class=\"_ _1\"/>.8 <span class=\"_ _8e\"> </span>21<span class=\"_ _7\"/>3.4 <span class=\"_ _8e\"> </span>1<span class=\"_ _3\"/>70.6 <span class=\"_ _8e\"> </span>139.1 <span class=\"_ _9d\"> </span>92.9 <span class=\"_ _9d\"> </span>20.5 <span class=\"_ _1b\"> </span>1<span class=\"_ _7\"/>3.9 <span class=\"_ _9d\"> </span>75.7 <span class=\"_ _19\"> </span>62.6 <span class=\"_ _156\"> </span>1<span class=\"_ _9\"/>.0 <span class=\"_ _155\"> </span>0.2 <span class=\"_ _147\"> </span>496.2 <span class=\"_ _147\"> </span>388.0 <span class=\"_ _116\"> </span><span class=\"ff41\">277<span class=\"_ _1\"/>.7 <span class=\"_ _90\"> </span>234.2 <span class=\"_ _90\"> </span>218.5 <span class=\"_ _90\"> </span>1<span class=\"_ _7\"/>53.8 </span>T<span class=\"_ _8\"/>otal liabilities 449.7 <span class=\"_ _b\"> </span>436.6 <span class=\"_ _192\"> </span>2,345.7 <span class=\"_ _192\"> </span>1,965.2 <span class=\"_ _13c\"> </span>521<span class=\"_ _7\"/>.7 <span class=\"_ _b\"> </span>450.5 <span class=\"_ _232\"> </span>184.8 <span class=\"_ _232\"> </span>194.9 <span class=\"_ _192\"> </span>1,319.6 <span class=\"_ _117\"> </span>1,428.3 <span class=\"_ _ad\"> </span>1.0 <span class=\"_ _27\"> </span>0.2 <span class=\"_ _192\"> </span>4,822.5 <span class=\"_ _192\"> </span>4,475.7 <span class=\"_ _192\"> </span><span class=\"ff19\">2,458.8 <span class=\"_ _192\"> </span>2,060.3 <span class=\"_ _192\"> </span>2,363.7 <span class=\"_ _192\"> </span>2,415.4 </span>Net assets <span class=\"_ _28a\"> </span><span class=\"fc0\">830.4 <span class=\"_ _232\"> </span></span>762.8 <span class=\"_ _117\"> </span><span class=\"fc0\">1,793.0 <span class=\"_ _1d\"> </span></span>1,347<span class=\"_ _1\"/>.8 <span class=\"_ _13c\"> </span><span class=\"fc0\">821.0 <span class=\"_ _90\"> </span></span>7<span class=\"_ _3\"/>47<span class=\"_ _8\"/>.6 <span class=\"_ _1a\"> </span>41<span class=\"_ _7\"/>.3 <span class=\"_ _17\"> </span><span class=\"fcb\">42.9 <span class=\"_ _147\"> </span></span>787<span class=\"_ _8\"/>.2 <span class=\"_ _b\"> </span><span class=\"fcb\">80<span class=\"_ _5\"/>0.0 <span class=\"_ _60\"> </span></span>0.6 <span class=\"_ _ad\"> </span>1<span class=\"_ _3\"/>.9 <span class=\"_ _192\"> </span><span class=\"fc0\">4,273.5 <span class=\"_ _192\"> </span></span>3,703.0 <span class=\"_ _192\"> </span><span class=\"ff19 fc0\">2,785.2 <span class=\"_ _192\"> </span><span class=\"fcb\">2,394.4 <span class=\"_ _192\"> </span></span>1,488.3 <span class=\"_ _192\"> </span><span class=\"fcb\">1,308.6 </span></span>V<span class=\"_ _3\"/>opak's share of net assets <span class=\"_ _81\"> </span>289.0 <span class=\"_ _142\"> </span>257<span class=\"_ _1\"/>.9 <span class=\"_ _147\"> </span>623.4 <span class=\"_ _8f\"> </span>481<span class=\"_ _9\"/>.1 <span class=\"_ _147\"> </span>360.3 <span class=\"_ _147\"> </span>336.5 <span class=\"_ _1b\"> </span>1<span class=\"_ _7\"/>9.1 <span class=\"_ _9d\"> </span>20.0 <span class=\"_ _90\"> </span>405.4 <span class=\"_ _147\"> </span>408.7 <span class=\"_ _155\"> </span>0.2 <span class=\"_ _22c\"> </span>0.9 <span class=\"_ _10b\"> </span>1,697<span class=\"_ _d\"/>.4 <span class=\"_ _e7\"> </span>1,505.1 <span class=\"_ _e7\"> </span><span class=\"ff41\">1,273.1 <span class=\"_ _e7\"> </span>1,098.2 <span class=\"_ _147\"> </span>424.3 <span class=\"_ _147\"> </span>406.9 </span>Goodwill on acquisition <span class=\"_ _16d\"> </span>36.6 <span class=\"_ _19\"> </span>34.4 <span class=\"_ _8e\"> </span>1<span class=\"_ _7\"/>05.4 <span class=\"_ _22c\"> </span>5.5 <span class=\"_ _155\"> </span>6.7 <span class=\"_ _22c\"> </span>6.9 <span class=\"_ _d2\"> </span>\u2013 <span class=\"_ _d2\"> </span>\u2013 <span class=\"_ _14\"> </span>31<span class=\"_ _9\"/>.7 <span class=\"_ _14\"> </span>31<span class=\"_ _9\"/>.4 <span class=\"_ _d2\"> </span>\u2013 <span class=\"_ _d2\"> </span>\u2013 <span class=\"_ _90\"> </span>180.4 <span class=\"_ _9d\"> </span>78.2 <span class=\"_ _90\"> </span><span class=\"ff41\">163.4 <span class=\"_ _b2\"> </span>67<span class=\"_ _d\"/>.3 <span class=\"_ _11\"> </span>1<span class=\"_ _7\"/>7<span class=\"_ _1\"/>.0 <span class=\"_ _1b\"> </span>1<span class=\"_ _7\"/>0.9 </span>V<span class=\"_ _9\"/>opak's carrying amount   of net assets <span class=\"_ _18c\"> </span><span class=\"fc0\">325.6 <span class=\"_ _232\"> </span></span>292.3 <span class=\"_ _b\"> </span><span class=\"fc0\">728.8 <span class=\"_ _232\"> </span></span>486.6 <span class=\"_ _147\"> </span>367<span class=\"_ _8\"/>.0 <span class=\"_ _b\"> </span><span class=\"fcb\">343.4 <span class=\"_ _21c\"> </span></span>19.1 <span class=\"_ _17\"> </span><span class=\"fcb\">20.0 <span class=\"_ _147\"> </span></span>437<span class=\"_ _8\"/>.1 <span class=\"_ _b\"> </span><span class=\"fcb\">440.1 <span class=\"_ _60\"> </span></span>0.2 <span class=\"_ _60\"> </span><span class=\"fcb\">0.9 <span class=\"_ _1d\"> </span></span>1,877<span class=\"_ _1\"/>.8 <span class=\"_ _192\"> </span><span class=\"fcb\">1,583.3 <span class=\"_ _192\"> </span></span><span class=\"ff19\">1,436.5 <span class=\"_ _192\"> </span><span class=\"fcb\">1,165.5 <span class=\"_ _13c\"> </span></span>441.3 <span class=\"_ _147\"> </span><span class=\"fcb\">417<span class=\"_ _1\"/>.8 </span></span>2022 Af<span class=\"_ _3\"/>ter completion of the purchase price allocation f<span class=\"_ _3\"/>or the A<span class=\"_ _7\"/>egis <span class=\"_ _3\"/>V<span class=\"_ _3\"/>opak <span class=\"_ _9\"/>T<span class=\"_ _8\"/>erminals Ltd. classified as a joint vent<span class=\"_ _7\"/>ure and Hindustan A<span class=\"_ _3\"/>egis LPG Ltd. classified as an associate, the respective provisionally determined goodwill balances amount to EUR 93.5 million and EUR 6.1 million. 2021 Af<span class=\"_ _3\"/>ter completion of the purchase price allocation f<span class=\"_ _3\"/>or the <span class=\"_ _3\"/>V<span class=\"_ _3\"/>opak Industrial Infrastructure Americas (VIIA) joint vent<span class=\"_ _7\"/>ure in the fourth quarter of 2021, the confirmed goodwill balance amounts to EUR 34.4 million. Contingent assets and liabilities The joint v<span class=\"_ _7\"/>entures and associates of the Group are cur<span class=\"_ _7\"/>rently<span class=\"_ _3\"/>, and may from time to time become, inv<span class=\"_ _7\"/>olved in a number of legal proceedings, including inquiries from, or discussions with, gov<span class=\"_ _7\"/>ernmental authorities (including t<span class=\"_ _5\"/>ax authorities) that are incidental to their operations. F<span class=\"_ _7\"/>or the contingent liabilities of the joint vent<span class=\"_ _7\"/>ures and associates as at year<span class=\"_ _9\"/>-end related to legal cases, it is based on the current f<span class=\"_ _7\"/>acts and circumst<span class=\"_ _5\"/>ances not believ<span class=\"_ _3\"/>ed that they ma<span class=\"_ _7\"/>y hav<span class=\"_ _7\"/>e a material adverse ef<span class=\"_ _3\"/>fect on the financial position or profitability of the Group. Due to inherent uncertainties, the Group cannot make any accurate quantification of an<span class=\"_ _7\"/>y cost, or timing of suc<span class=\"_ _3\"/>h cost, which ma<span class=\"_ _3\"/>y arise from any of the legal proceedings ref<span class=\"_ _7\"/>erred to in this report, how<span class=\"_ _7\"/>ev<span class=\"_ _7\"/>er costs in complex litigation ma<span class=\"_ _7\"/>y be subst<span class=\"_ _5\"/>antial. F<span class=\"_ _7\"/>or an ov<span class=\"_ _7\"/>er<span class=\"_ _5\"/>view of the commitments and contingent liabilities relating to our joint v<span class=\"_ _7\"/>entures and associates, ref<span class=\"_ _7\"/>erence is made to note 9.8. Joint v<span class=\"_ _7\"/>entur<span class=\"_ _7\"/>es and associates 2022 Ger<span class=\"_ _7\"/>man LNG <span class=\"_ _8\"/>T<span class=\"_ _8\"/>er<span class=\"_ _7\"/>minal in Ger<span class=\"_ _7\"/>man<span class=\"_ _7\"/>y (partial impair<span class=\"_ _3\"/>ment reversal) <span class=\"ff1\"> </span>In the first half year of 2022, as a result of <span class=\"_ _9\"/>V<span class=\"_ _3\"/>opak\u2019<span class=\"_ _9\"/>s divestment of its 33.3% shareholding in the German LNG <span class=\"_ _9\"/>T<span class=\"_ _8\"/>erminal GmbH, in the first half of 2022 an impairment reversal of EUR 3.8 million was recorded. <span class=\"_ _8\"/>This re<span class=\"_ _7\"/>versal partially of<span class=\"_ _3\"/>fsets the impairment of EUR 1<span class=\"_ _3\"/>0.8 million recognized in the third quarter of 2021<span class=\"_ _1\"/>. <span class=\"_ _9\"/>This impairment re<span class=\"_ _7\"/>versal is recorded as part of the Result of joint v<span class=\"_ _7\"/>entures and associates.  SPEC LNG ter<span class=\"_ _3\"/>minal in Colombia (impairment) <span class=\"ff1\"> </span>In the second quarter of 2022, an impairment was recogniz<span class=\"_ _7\"/>ed for the SPEC LNG terminal in Colombia for an amount of EUR 36.2 million. Mainly due to unusual w<span class=\"_ _7\"/>eather conditions in recent years whic<span class=\"_ _3\"/>h hav<span class=\"_ _7\"/>e brought a significant amount of rain in Colombia, hy<span class=\"_ _7\"/>dropow<span class=\"_ _7\"/>er has been av<span class=\"_ _7\"/>ailable as the main source of pow<span class=\"_ _7\"/>er<span class=\"_ _3\"/>, whic<span class=\"_ _7\"/>h resulted in a reduced utilization of the FSRU<span class=\"_ _7\"/>. In addition, the tight FSRU mark<span class=\"_ _7\"/>et associated with the Russia-Ukraine w<span class=\"_ _7\"/>ar is leading to the opportunity to reduce FSRU costs becoming remote. <span class=\"_ _3\"/>As a result of the abov<span class=\"_ _7\"/>e there is a decrease in dividend expectations. <span class=\"_ _9\"/>T<span class=\"_ _7\"/>his impairment is recorded as part of the Result of joint vent<span class=\"_ _7\"/>ures and associates. 2021 Ger<span class=\"_ _7\"/>man LNG <span class=\"_ _8\"/>T<span class=\"_ _8\"/>er<span class=\"_ _7\"/>minal in Ger<span class=\"_ _7\"/>man<span class=\"_ _7\"/>y (impair<span class=\"_ _7\"/>ment<span class=\"ff1\">)   </span>Af<span class=\"_ _3\"/>ter a strategic review<span class=\"_ _9\"/>, <span class=\"_ _3\"/>V<span class=\"_ _3\"/>opak decided to discontinue its active participation in the German LNG project leading to an ex<span class=\"_ _7\"/>ceptional loss of EUR 1<span class=\"_ _3\"/>0.8 million recognized in the third quarter of 2021<span class=\"_ _8\"/>.  LNG T<span class=\"_ _8\"/>er<span class=\"_ _7\"/>minal <span class=\"_ _4\"/>Altamira<span class=\"ws3\"> (impair<span class=\"_ _3\"/>ment)<span class=\"ff1\">   </span></span>Due to a new commercial agreement in place f<span class=\"_ _7\"/>or our LNG <span class=\"_ _9\"/>T<span class=\"_ _8\"/>erminal Altamira in Mexico the major assets in this joint vent<span class=\"_ _7\"/>ure are held under a finance lease arrangement. <span class=\"_ _7\"/>As a result, the carr<span class=\"_ _5\"/>ying amount of the joint v<span class=\"_ _7\"/>enture increased significantly and e<span class=\"_ _7\"/>xceeded its recov<span class=\"_ _3\"/>erable amount resulting in the derecognition of the goodwill balance for an amount of EUR 32.7 million. <span class=\"_ _9\"/>T<span class=\"_ _7\"/>he ov<span class=\"_ _7\"/>erall positive result from this transaction recogniz<span class=\"_ _7\"/>ed in the fourth quarter of 2021 amounts to EUR 2.8 million.  <span class=\"_ _1a\"> </span><span class=\"fs7 fcd\">Joint v<span class=\"_ _7\"/>entures  <span class=\"_ _bc\"> </span>Associates  <span class=\"_ _96\"> </span>T<span class=\"_ _9\"/>otal  </span>  <span class=\"_ _e6\"> </span> <span class=\"_ _7e\"> </span> <span class=\"_ _131\"> </span> <span class=\"_ _7e\"> </span> <span class=\"_ _4f\"> </span> In EUR millions  <span class=\"_ _2ba\"> </span>2022  <span class=\"_ _ce\"> </span><span class=\"fc7\">2021  <span class=\"_ _76\"> </span></span>2022  <span class=\"_ _ce\"> </span><span class=\"fc7\">2021  <span class=\"_ _76\"> </span></span>2022  <span class=\"_ _ce\"> </span>2021Other operating income  <span class=\"_ _4a\"> </span><span class=\"ws8e\">15.8  <span class=\"_ _fb\"> </span>13.6  <span class=\"_ _159\"> </span>0.9  <span class=\"_ _bc\"> </span>0.3  <span class=\"_ _b0\"> </span>1<span class=\"_ _7\"/>6.7  <span class=\"_ _b0\"> </span>1<span class=\"_ _7\"/>3.9  </span>JOINT VENTURES <span class=\"_ _5\"/> Eur<span class=\"_ _7\"/>ope, Middle East &amp; <span class=\"_ _9\"/>Afr<span class=\"_ _3\"/>ica  Belgium  NxtP<span class=\"_ _3\"/>ort International B.V<span class=\"_ _8\"/>. (50%)  The Nether<span class=\"_ _7\"/>lands  Diize B<span class=\"_ _7\"/>.V<span class=\"_ _8\"/>. (50%)   Gate terminal B.V<span class=\"_ _1\"/>. (50%)   MultiCore C.V<span class=\"_ _8\"/>. (25%)  P<span class=\"_ _7\"/>akistan  Engro <span class=\"_ _3\"/>V<span class=\"_ _9\"/>opak <span class=\"_ _9\"/>T<span class=\"_ _9\"/>erminal Ltd. (50%)  Spain  T<span class=\"_ _9\"/>erminales Quimicos S<span class=\"_ _7\"/>.A. (T<span class=\"_ _9\"/>erquimsa) (50%)  United <span class=\"_ _9\"/>Ar<span class=\"_ _7\"/>ab Emirat<span class=\"_ _7\"/>es  V<span class=\"_ _3\"/>opak Horizon F<span class=\"_ _9\"/>ujairah Ltd. (33.33%)  Asia P<span class=\"_ _3\"/>acific  China  Guangxi Hualin Jet<span class=\"_ _3\"/>ty Co. Ltd. (51%)    Huizhou QuanMei P<span class=\"_ _3\"/>etroc<span class=\"_ _7\"/>hemical <span class=\"_ _9\"/>T<span class=\"_ _9\"/>erminal Co. Ltd. (30%)  Tianjin Lingang <span class=\"_ _3\"/>V<span class=\"_ _9\"/>opak Bohua Jet<span class=\"_ _3\"/>t<span class=\"_ _5\"/>y Co. Ltd. (30%)    V<span class=\"_ _3\"/>opak (Qinzhou) Jet<span class=\"_ _3\"/>ty Co. Ltd. (51%)   V<span class=\"_ _3\"/>opak Bohua (Tianjin) <span class=\"_ _8\"/>T<span class=\"_ _9\"/>erminal Co. Ltd. (50%)    V<span class=\"_ _3\"/>opak <span class=\"_ _21\"> </span>Nanjiang <span class=\"_\"> </span>P<span class=\"_ _9\"/>etrochemicals T<span class=\"_ _8\"/>erminal Tianjin Co. Ltd. (50%)   V<span class=\"_ _3\"/>opak Shanghai Logistics Co. Ltd. (50%)   India  A<span class=\"_ _7\"/>egis <span class=\"_ _3\"/>V<span class=\"_ _3\"/>opak <span class=\"_ _9\"/>T<span class=\"_ _8\"/>erminals Ltd. (49%)  Indonesia  PT Jakarta <span class=\"_ _9\"/>T<span class=\"_ _9\"/>ank <span class=\"_ _8\"/>T<span class=\"_ _9\"/>erminal (49%)  Kor<span class=\"_ _3\"/>ea  V<span class=\"_ _3\"/>opak <span class=\"_ _8\"/>T<span class=\"_ _9\"/>erminals Korea Ltd. (51%)  Malaysia  5  Kertih <span class=\"_ _8\"/>T<span class=\"_ _9\"/>erminals Sdn. Bhd. (20.85%)  6  P<span class=\"_ _3\"/>engerang <span class=\"_ _9\"/>T<span class=\"_ _9\"/>erminals Sdn. Bhd. (49%)  7  P<span class=\"_ _3\"/>engerang Independent <span class=\"_ _9\"/>T<span class=\"_ _9\"/>erminals Sdn. Bhd. (44.1<span class=\"_ _9\"/>0%) Singapor<span class=\"_ _3\"/>e  8  Ban<span class=\"_ _7\"/>yan Ca<span class=\"_ _7\"/>vern Storage Services Pte. Ltd. (31<span class=\"_ _9\"/>.275%) Thailand  Thai <span class=\"_ _8\"/>T<span class=\"_ _9\"/>ank <span class=\"_ _9\"/>T<span class=\"_ _9\"/>erminal Ltd. (35%) (2021: 49%)  Amer<span class=\"_ _3\"/>icas  Brazil  Uniao-V<span class=\"_ _3\"/>opak Armaz<span class=\"_ _3\"/>ens Gerais Ltda. (50%)  Mexico  T<span class=\"_ _9\"/>erminal de <span class=\"_ _7\"/>Altamira de S. de R.L. de C.V<span class=\"_ _8\"/>. (60%)  P<span class=\"_ _7\"/>anama  P<span class=\"_ _7\"/>ayardi <span class=\"_ _8\"/>T<span class=\"_ _9\"/>erminal Compan<span class=\"_ _7\"/>y S. de R.L. (50%)  United Stat<span class=\"_ _7\"/>es  V<span class=\"_ _3\"/>opak Industrial Infrastruct<span class=\"_ _3\"/>ure Americas LLC (VIIA) (50%)   V<span class=\"_ _3\"/>opak Moda Houston LLC (50%)  5 <span class=\"_ _24\"> </span>V<span class=\"_ _3\"/>opak <span class=\"_ _9\"/>T<span class=\"_ _3\"/>erminal P<span class=\"_ _7\"/>enjuru Pte. Ltd. 30% ownership in K<span class=\"_ _7\"/>ertih <span class=\"_ _9\"/>T<span class=\"_ _3\"/>erminals Sdn. Bhd.  6 <span class=\"_ _24\"> </span>V<span class=\"_ _3\"/>opak <span class=\"_ _9\"/>T<span class=\"_ _3\"/>erminal P<span class=\"_ _7\"/>engerang B.V<span class=\"_ _9\"/>. 49% ownership in P<span class=\"_ _3\"/>engerang <span class=\"_ _9\"/>T<span class=\"_ _3\"/>erminals Sdn. Bhd.  7 <span class=\"_ _24\"> </span>P<span class=\"_ _7\"/>engerang <span class=\"_ _9\"/>T<span class=\"_ _9\"/>erminals Sdn. Bhd. 89.999% ownership in P<span class=\"_ _7\"/>engerang Independent <span class=\"_ _9\"/>T<span class=\"_ _3\"/>erminals Sdn. Bhd. <span class=\"_ _8\"/> 8 <span class=\"_ _24\"> </span>V<span class=\"_ _3\"/>opak <span class=\"_ _9\"/>T<span class=\"_ _3\"/>erminals Singapore Pte. Ltd. 45% ownership in Ban<span class=\"_ _7\"/>yan Cav<span class=\"_ _7\"/>ern Storage Ser<span class=\"_ _5\"/>vices Pte. Ltd  ",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfJointVenturesExplanatory",
    "language": "en",
    "entity": "scheme:724500UL634GFV1KYF10",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
   }
  },
  "pp-value-52-3": {
   "value": "Note 2.7 Result of joint v<span class=\"_ _3\"/>entur<span class=\"_ _7\"/>es and associates A<span class=\"_ _1e\"> </span><span class=\"ff3 fs9\">Accounting policies </span>Joint v<span class=\"_ _7\"/>entures and associates are accounted f<span class=\"_ _7\"/>or using the equity method. For the accounting policies relating to joint vent<span class=\"_ _7\"/>ures and associates, ref<span class=\"_ _7\"/>erence is made to note 3.5. Result of joint vent<span class=\"_ _7\"/>ur<span class=\"_ _7\"/>es and associates In EUR millions <span class=\"_ _206\"> </span>Note <span class=\"_ _76\"> </span>2022 <span class=\"_ _76\"> </span>2021Result of joint v<span class=\"_ _7\"/>entures and associates <span class=\"_ _92\"> </span><span class=\"ff3 fc13\">3.5 <span class=\"_ _bd\"> </span></span>1<span class=\"_ _7\"/>94.7 <span class=\"_ _39\"> </span>215.8 Impairments joint vent<span class=\"_ _7\"/>ures and associates <span class=\"_ _2c\"> </span>3.5,<span class=\"_ _7\"/> 3.8 <span class=\"_ _bd\"> </span><span class=\"ff1 fc1\">- 36.2 <span class=\"_ _3a\"> </span>- 43.5 </span>Re<span class=\"_ _7\"/>versal of impairments joint vent<span class=\"_ _7\"/>ures and associates <span class=\"_ _86\"> </span>3.5,<span class=\"_ _7\"/> 3.8 <span class=\"_ _d0\"> </span><span class=\"ff1 fc1\">3.8 <span class=\"_ _55\"> </span>\u2013 </span>T<span class=\"_ _8\"/>otal <span class=\"_ _24d\"> </span><span class=\"fc0\">162.3 <span class=\"_ _38\"> </span></span>1<span class=\"_ _7\"/>72.3 Joint v<span class=\"_ _7\"/>entures are an important part of the Group. Summarized financial inf<span class=\"_ _7\"/>ormation of our joint vent<span class=\"_ _7\"/>ures and associates on an IFRS basis is presented in note 3.5.    In addition, the ef<span class=\"_ _7\"/>f<span class=\"_ _7\"/>ects of unaudited non-IFRS proportional consolidation on the statement of financial position and statement of income of the Group are presented under \u2018<span class=\"_ _1\"/>Additional information<span class=\"_ _3\"/>\u2019 accompanying this report. 2022 Exceptional gains/losses, w<span class=\"_ _7\"/>ere reported in Result of joint v<span class=\"_ _7\"/>entures and associates as f<span class=\"_ _7\"/>ollows: Impair<span class=\"_ _7\"/>ment SPEC LNG ter<span class=\"_ _3\"/>minal <span class=\"ff1\"> </span>In the second quarter an impairment was recogniz<span class=\"_ _7\"/>ed for the SPEC LNG terminal in Colombia for an amount of EUR 36.2 million. Mainly due to unusual w<span class=\"_ _7\"/>eather conditions in recent years whic<span class=\"_ _3\"/>h have brought a significant amount of rain in Colombia, h<span class=\"_ _7\"/>ydropo<span class=\"_ _7\"/>wer has been a<span class=\"_ _7\"/>vailable as the main source of pow<span class=\"_ _7\"/>er<span class=\"_ _3\"/>, whic<span class=\"_ _3\"/>h resulted in a reduced utilization of the FSRU. In addition, the tight FSRU mark<span class=\"_ _7\"/>et associated with the Russia-Ukraine w<span class=\"_ _7\"/>ar is leading to the opportunity to reduce FSRU costs becoming remote. <span class=\"_ _7\"/>As a result of the abo<span class=\"_ _7\"/>ve there is a decrease in dividend expectations Divestment Ger<span class=\"_ _3\"/>man LNG <span class=\"ff1\"> </span>As a result of <span class=\"_ _9\"/>V<span class=\"_ _3\"/>opak\u2019<span class=\"_ _9\"/>s divestment of its 33.3% shareholding in the German LNG <span class=\"_ _9\"/>T<span class=\"_ _8\"/>erminal GmbH, in the first half of 2022 an impairment rev<span class=\"_ _7\"/>ersal of EUR 3.8 million was recorded. <span class=\"_ _8\"/>This rev<span class=\"_ _7\"/>ersal partially of<span class=\"_ _7\"/>fsets the impairment of EUR 1<span class=\"_ _3\"/>0.8 million recognized in the third quarter of 2021<span class=\"_ _8\"/>. <span class=\"_ _9\"/>The proceeds receiv<span class=\"_ _3\"/>ed amounted to EUR 3.8 million. 2021 Exceptional gains/losses, w<span class=\"_ _7\"/>ere reported in Result of joint v<span class=\"_ _7\"/>entures and associates as f<span class=\"_ _7\"/>ollows: P<span class=\"_ _7\"/>artial r<span class=\"_ _3\"/>elease tax provision <span class=\"ff1\"> </span>In 2021, an ex<span class=\"_ _7\"/>ceptional gain of EUR 2.2 million was recogniz<span class=\"_ _7\"/>ed in the result of joint vent<span class=\"_ _7\"/>ures and associates relating to a partial release of a tax provision that was recogniz<span class=\"_ _7\"/>ed in a joint vent<span class=\"_ _7\"/>ure terminal within the A<span class=\"_ _7\"/>sia &amp; Middle East division at the end of 20<span class=\"_ _3\"/>1<span class=\"_ _3\"/>9. Business develop<span class=\"ws150\">ment <span class=\"_ _4\"/>costs VMH <span class=\"_\"> </span></span><span class=\"ff1\"> </span>In the fourth quarter of 2021, an e<span class=\"_ _7\"/>xceptional loss of EUR 4.8 million w<span class=\"_ _7\"/>as recognized in the Moda Houston terminal (VMH) for business de<span class=\"_ _7\"/>velopment costs. <span class=\"_ _8\"/>This impairment is the result of a strategic revie<span class=\"_ _7\"/>w af<span class=\"_ _3\"/>ter which it w<span class=\"_ _7\"/>as concluded that <span class=\"_ _3\"/>VMH will focus on ammonia and gas projects going for<span class=\"_ _5\"/>ward leading to a write-of<span class=\"_ _3\"/>f of certain business development projects. F<span class=\"_ _7\"/>or impairments recorded for our joint v<span class=\"_ _7\"/>entures and associates, ref<span class=\"_ _3\"/>erence is made to note 3.8 for further details. Note 3.5 J<span class=\"_ _7\"/>oint vent<span class=\"_ _7\"/>ur<span class=\"_ _7\"/>es and associates  V<span class=\"_ _3\"/>opak\u2019<span class=\"_ _9\"/>s interest in the principal joint vent<span class=\"_ _7\"/>ures and associates at year<span class=\"_ _9\"/>-end 2022 consisted of 27 (2021: 26) unlisted joint vent<span class=\"_ _7\"/>ures and 1<span class=\"_ _3\"/>0 (2021: 9) unlisted associates. <span class=\"_ _7\"/>Although the Group conducts a large part of its activities by means of these joint v<span class=\"_ _7\"/>entures and associates, none of these entities are currently individually material f<span class=\"_ _7\"/>or the Group. <span class=\"_ _9\"/>The nat<span class=\"_ _3\"/>ure of<span class=\"_ _7\"/>, and c<span class=\"_ _7\"/>hanges in, the risks associated with its interests in joint vent<span class=\"_ _7\"/>ures and associates is primarily linked to the region and/or the activities. F<span class=\"_ _7\"/>or the disclosure of the nature, e<span class=\"_ _7\"/>xtent and financial ef<span class=\"_ _7\"/>f<span class=\"_ _7\"/>ects of our joint vent<span class=\"_ _7\"/>ures and associates, we mak<span class=\"_ _7\"/>e a distinction in the activities of the divisions Europe &amp; Africa (limited number of oil and c<span class=\"_ _3\"/>hemical terminals), A<span class=\"_ _7\"/>sia &amp; Middle East, (all types of storage terminals, ex<span class=\"_ _7\"/>cept LNG), New Energy &amp; LNG (joint v<span class=\"_ _7\"/>entures and associates with long-term contracts) and China &amp; North A<span class=\"_ _7\"/>sia (mainly industrial terminals). <span class=\"_ _9\"/>T<span class=\"_ _7\"/>he Americas division currently has a number of joint v<span class=\"_ _7\"/>entures and associates mainly operating gas and industrial terminals. No significant judgments were made b<span class=\"_ _7\"/>y the Group with regard to the classification of joint vent<span class=\"_ _7\"/>ures and associates. All material joint ar<span class=\"_ _7\"/>rangements are currently classified as joint vent<span class=\"_ _7\"/>ures because joint control is established by contract and the Group only has rights to the net assets of these entities. <span class=\"_ _9\"/>T<span class=\"_ _7\"/>he Group currently has no material inv<span class=\"_ _7\"/>estment in a joint operation. The Group has se<span class=\"_ _7\"/>veral majority ownerships whic<span class=\"_ _3\"/>h qualify as joint vent<span class=\"_ _7\"/>ures: a 60% majority ownership in LNG <span class=\"_ _8\"/>T<span class=\"_ _9\"/>erminal Altamira in Mexico, a 51% majority ownership in <span class=\"_ _9\"/>V<span class=\"_ _3\"/>opak <span class=\"_ _9\"/>T<span class=\"_ _8\"/>erminals Korea Ltd., a 51% majority ownership in <span class=\"_ _9\"/>V<span class=\"_ _3\"/>opak (Qinzhou) Jet<span class=\"_ _3\"/>t<span class=\"_ _5\"/>y Co., Ltd. and in Guangxi Hualin Jet<span class=\"_ _3\"/>ty Co., Ltd. each, both in China. In Me<span class=\"_ _3\"/>xico, the Group has 50% of the voting rights. In Korea, the partner o<span class=\"_ _7\"/>wns an ex<span class=\"_ _7\"/>ercisable call option right at any time of 1% of the shares and therefore the substantive v<span class=\"_ _7\"/>oting rights of the Group are limited to 50%. In China, for both entities and in India all decisions about the relev<span class=\"_ _7\"/>ant activities of the entity are made based on unanimous consent of the shareholders in accordance with the shareholders agreement concerned. The Group has a 1<span class=\"_ _9\"/>0% equit<span class=\"_ _5\"/>y interest in <span class=\"_ _9\"/>V<span class=\"_ _3\"/>opak <span class=\"_ _9\"/>T<span class=\"_ _9\"/>erminal Eemsha<span class=\"_ _7\"/>ven in the Netherlands whic<span class=\"_ _3\"/>h is classified as an associate as the Group has significant influence. <span class=\"_ _9\"/>T<span class=\"_ _7\"/>he Group has been appointed as operator of this terminal. A<span class=\"_ _7\"/>s operator<span class=\"_ _3\"/>, <span class=\"_ _3\"/>V<span class=\"_ _3\"/>opak has the right to appoint the management board of the terminal. In addition, as 1<span class=\"_ _3\"/>0% shareholder in the entity<span class=\"_ _3\"/>, <span class=\"_ _3\"/>V<span class=\"_ _3\"/>opak is entitled to appoint one of the three members of the Super<span class=\"_ _5\"/>visor<span class=\"_ _5\"/>y Board and is able to participate in the decision making process of the entity<span class=\"_ _3\"/>.  Ref<span class=\"_ _3\"/>erence is made to note 9.1<span class=\"_ _9\"/>1 for an o<span class=\"_ _7\"/>verview of the principal joint vent<span class=\"_ _7\"/>ures and associates. A<span class=\"_ _1e\"> </span><span class=\"ff3 fs9\">Accounting policies </span>Joint v<span class=\"_ _7\"/>entures and associates are accounted f<span class=\"_ _7\"/>or using the equity method, whic<span class=\"_ _7\"/>h involv<span class=\"_ _7\"/>es recognition in the Consolidated statement of income of <span class=\"_ _3\"/>V<span class=\"_ _3\"/>opak\u2019<span class=\"_ _9\"/>s share of the net result of the joint vent<span class=\"_ _7\"/>ures and associates for the y<span class=\"_ _7\"/>ear<span class=\"_ _3\"/>. A<span class=\"_ _7\"/>ccounting policies of joint vent<span class=\"_ _7\"/>ures and associates hav<span class=\"_ _7\"/>e been aligned where necessar<span class=\"_ _5\"/>y to ensure consistency with the policies adopted by the Group. <span class=\"_ _9\"/>V<span class=\"_ _3\"/>opak\u2019<span class=\"_ _9\"/>s interest in a joint vent<span class=\"_ _7\"/>ure or associate is carried in the statement of financial position at its share in the net assets of the joint venture or associate together with goodwill paid on acquisition, less any impairment loss. <span class=\"_ _9\"/>When the share in the losses ex<span class=\"_ _7\"/>ceeds the carr<span class=\"_ _5\"/>ying amount of an equity-accounted company (including an<span class=\"_ _3\"/>y other receivables f<span class=\"_ _7\"/>orming part of the net inv<span class=\"_ _7\"/>estment in the company), the carrying amount is writ<span class=\"_ _3\"/>ten down to nil and recognition of further losses is discontinued, unless we ha<span class=\"_ _7\"/>ve incurred legal or constructiv<span class=\"_ _7\"/>e obligations relating to the company in question. Gr<span class=\"_ _7\"/>oup\u2019<span class=\"_ _9\"/>s share of the t<span class=\"_ _7\"/>otal compr<span class=\"_ _7\"/>ehensive income and the car<span class=\"_ _3\"/>rying amount of joint ventur<span class=\"_ _3\"/>es and associates Joint v<span class=\"_ _7\"/>entures <span class=\"_ _27b\"> </span>Associates <span class=\"_ _27c\"> </span>T<span class=\"_ _8\"/>otal In EUR millions <span class=\"_ _1a7\"> </span><span class=\"fs7 fc0\">2022 <span class=\"_ _1b2\"> </span><span class=\"fc7\">2021 <span class=\"_ _7f\"> </span></span>2022 <span class=\"_ _1b2\"> </span><span class=\"fc7\">2021 <span class=\"_ _1b2\"> </span></span>2022 <span class=\"_ _7f\"> </span><span class=\"fc7\">2021 </span></span>V<span class=\"_ _3\"/>opak's share in net assets <span class=\"_ _27d\"> </span>1,098.2 <span class=\"_ _1bb\"> </span>887<span class=\"_ _1\"/>.4 <span class=\"_ _18a\"> </span>406.9 <span class=\"_ _19c\"> </span>347<span class=\"_ _1\"/>.9 <span class=\"_ _4d\"> </span>1,505.1 <span class=\"_ _4d\"> </span>1,235.3 Goodwill on acquisition <span class=\"_ _27e\"> </span>67<span class=\"_ _1\"/>.3 <span class=\"_ _2f\"> </span>7<span class=\"_ _9\"/>4.2 <span class=\"_ _66\"> </span>1<span class=\"_ _3\"/>0.9 <span class=\"_ _db\"> </span>9.9 <span class=\"_ _45\"> </span>78.2 <span class=\"_ _45\"> </span>84.1 Car<span class=\"_ _7\"/>rying amount at 31 December <span class=\"_ _27f\"> </span><span class=\"fc0\">1,165.5 <span class=\"_ _131\"> </span></span>961<span class=\"_ _3\"/>.6 <span class=\"_ _18a\"> </span>417<span class=\"_ _8\"/>.8 <span class=\"_ _e6\"> </span><span class=\"fcb\">357<span class=\"_ _8\"/>.8 <span class=\"_ _19b\"> </span><span class=\"fc0\">1,583.3 <span class=\"_ _118\"> </span></span>1,319.4 </span>Share in profit or loss <span class=\"_ _280\"> </span><span class=\"ff3 fc13\">2.7 <span class=\"_ _49\"> </span></span>1<span class=\"_ _7\"/>39.2 <span class=\"_ _7e\"> </span>1<span class=\"_ _7\"/>56.6 <span class=\"_ _45\"> </span>55.5 <span class=\"_ _45\"> </span>59.2 <span class=\"_ _18a\"> </span>194.7 <span class=\"_ _18a\"> </span>21<span class=\"_ _7\"/>5.8 Impairments <span class=\"_ _281\"> </span>2.7<span class=\"_ _8\"/>, 3.8 <span class=\"_ _86\"> </span><span class=\"ff1 fc1\">\u2013 <span class=\"_ _e6\"> </span>- 43.5 <span class=\"_ _18a\"> </span>- 36.2 <span class=\"_ _130\"> </span>\u2013 <span class=\"_ _e6\"> </span>- 36.2 <span class=\"_ _18a\"> </span>- 43.5 </span>Re<span class=\"_ _7\"/>versal of impairments <span class=\"_ _1f4\"> </span>2.7<span class=\"_ _1\"/>, 3.8 <span class=\"_ _5a\"> </span><span class=\"ff1 fc1\">3.8 <span class=\"_ _130\"> </span>\u2013 <span class=\"_ _130\"> </span>\u2013 <span class=\"_ _130\"> </span>\u2013 <span class=\"_ _1bc\"> </span>3.8 <span class=\"_ _130\"> </span>\u2013 </span>Net profit 143.0 <span class=\"_ _4f\"> </span>1<span class=\"_ _9\"/>13.1 <span class=\"_ _b1\"> </span>19.3 <span class=\"_ _51\"> </span>59.2 <span class=\"_ _53\"> </span>162.3 <span class=\"_ _53\"> </span>172.3 Other comprehensive income <span class=\"_ _1d1\"> </span><span class=\"ff3 fc13\">5.2 <span class=\"_ _3f\"> </span></span>46.6 <span class=\"_ _100\"> </span>9.7 <span class=\"_ _45\"> </span>22.0 <span class=\"_ _189\"> </span>1<span class=\"_ _7\"/>0.5 <span class=\"_ _45\"> </span>68.6 <span class=\"_ _45\"> </span>20.2 Comprehensiv<span class=\"_ _7\"/>e income 189.6 <span class=\"_ _190\"> </span>122.8 <span class=\"_ _83\"> </span>41<span class=\"_ _3\"/>.3 <span class=\"_ _b1\"> </span>69.7 <span class=\"_ _53\"> </span>230.9 <span class=\"_ _53\"> </span>1<span class=\"_ _7\"/>92.5 Dividends received <span class=\"_ _270\"> </span><span class=\"ff3 fc13\">2.9 <span class=\"_ _190\"> </span></span>- 1<span class=\"_ _7\"/>62.5 <span class=\"_ _7f\"> </span>- 91<span class=\"_ _9\"/>.9 <span class=\"_ _7f\"> </span>- 61<span class=\"_ _9\"/>.3 <span class=\"_ _e6\"> </span>- 42.7 <span class=\"_ _31\"> </span>- 223.8 <span class=\"_ _8d\"> </span>- 1<span class=\"_ _7\"/>34.6 Inv<span class=\"_ _7\"/>estments <span class=\"_ _282\"> </span>34.7 <span class=\"_ _7e\"> </span>1<span class=\"_ _3\"/>04.3 <span class=\"_ _130\"> </span>\u2013 <span class=\"_ _db\"> </span>5.7 <span class=\"_ _45\"> </span>34.7 <span class=\"_ _1bb\"> </span>1<span class=\"_ _9\"/>1<span class=\"_ _7\"/>0.0 Acquisitions <span class=\"_ _283\"> </span>1<span class=\"_ _7\"/>86.1 <span class=\"_ _130\"> </span>\u2013 <span class=\"_ _45\"> </span>40.2 <span class=\"_ _130\"> </span>\u2013 <span class=\"_ _e6\"> </span>226.3 <span class=\"_ _130\"> </span>\u2013 Redemption share capital <span class=\"_ _284\"> </span>\u2013 <span class=\"_ _130\"> </span>\u2013 <span class=\"_ _45\"> </span>- 5.0 <span class=\"_ _130\"> </span>\u2013 <span class=\"_ _45\"> </span>- 5.0 <span class=\"_ _183\"> </span>\u2013 T<span class=\"_ _9\"/>ransfers due to c<span class=\"_ _3\"/>hange in ownership <span class=\"_ _285\"> </span>1<span class=\"_ _9\"/>.3 <span class=\"_ _183\"> </span>\u2013 <span class=\"_ _130\"> </span>\u2013 <span class=\"_ _108\"> </span>- 7<span class=\"_ _d\"/>.7 <span class=\"_ _8b\"> </span>1<span class=\"_ _9\"/>.3 <span class=\"_ _88\"> </span>- 7<span class=\"_ _1\"/>.7 Other <span class=\"_ _286\"> </span>0.1 <span class=\"_ _45\"> </span>- 0.4 <span class=\"_ _130\"> </span>\u2013 <span class=\"_ _db\"> </span>0.1 <span class=\"_ _db\"> </span>0.1 <span class=\"_ _45\"> </span>- 0.3 Exc<span class=\"_ _3\"/>hange diff<span class=\"_ _3\"/>erences <span class=\"_ _287\"> </span>21<span class=\"_ _9\"/>.7 <span class=\"_ _45\"> </span>69.1 <span class=\"_ _1bc\"> </span>8.3 <span class=\"_ _45\"> </span>34.9 <span class=\"_ _189\"> </span>30.0 <span class=\"_ _7e\"> </span>1<span class=\"_ _3\"/>04.0 Car<span class=\"_ _7\"/>rying amount at 31 December <span class=\"_ _27f\"> </span><span class=\"fc0\">1,436.5 <span class=\"_ _19b\"> </span></span>1,165.5 <span class=\"_ _131\"> </span>441<span class=\"_ _7\"/>.3 <span class=\"_ _18a\"> </span>417<span class=\"_ _1\"/>.8 <span class=\"_ _15a\"> </span><span class=\"fc0\">1,877<span class=\"_ _1\"/>.8 <span class=\"_ _118\"> </span><span class=\"fcb\">1,583.3 </span></span>V<span class=\"_ _3\"/>opak's share in net assets <span class=\"_ _27d\"> </span>1,273.1 <span class=\"_ _4d\"> </span>1,098.2 <span class=\"_ _e6\"> </span>424.3 <span class=\"_ _18a\"> </span>406.9 <span class=\"_ _f9\"> </span>1,697<span class=\"_ _d\"/>.4 <span class=\"_ _4d\"> </span>1,505.1 Goodwill on acquisition <span class=\"_ _288\"> </span>1<span class=\"_ _7\"/>63.4 <span class=\"_ _88\"> </span>67<span class=\"_ _1\"/>.3 <span class=\"_ _3f\"> </span>1<span class=\"_ _7\"/>7<span class=\"_ _1\"/>.0 <span class=\"_ _66\"> </span>1<span class=\"_ _3\"/>0.9 <span class=\"_ _7e\"> </span>180.4 <span class=\"_ _45\"> </span>78.2 Car<span class=\"_ _7\"/>rying amount at 31 December <span class=\"_ _27f\"> </span><span class=\"fc0\">1,436.5 <span class=\"_ _19b\"> </span></span>1,165.5 <span class=\"_ _131\"> </span>441<span class=\"_ _7\"/>.3 <span class=\"_ _18a\"> </span>417<span class=\"_ _1\"/>.8 <span class=\"_ _15a\"> </span><span class=\"fc0\">1,877<span class=\"_ _1\"/>.8 <span class=\"_ _118\"> </span><span class=\"fcb\">1,583.3 </span></span>Other comprehensive income is primarily related to the ef<span class=\"_ _3\"/>f<span class=\"_ _7\"/>ective portion of c<span class=\"_ _3\"/>hanges in the fair v<span class=\"_ _7\"/>alue of cash flow hedges within the joint v<span class=\"_ _7\"/>entures, whic<span class=\"_ _3\"/>h are recognized through the statement of comprehensive income. F<span class=\"_ _7\"/>or more information on the impairments recogniz<span class=\"_ _7\"/>ed on the inv<span class=\"_ _7\"/>estments in joint vent<span class=\"_ _7\"/>ures and associates, ref<span class=\"_ _7\"/>erence is made to note 3.8. Inv<span class=\"_ _7\"/>estments and divestments of joint v<span class=\"_ _7\"/>entur<span class=\"_ _3\"/>es and associates 2022 Aegis <span class=\"_ _8\"/>V<span class=\"_ _9\"/>opak <span class=\"_ _8\"/>T<span class=\"_ _8\"/>er<span class=\"_ _7\"/>minals Ltd. and Hindustan <span class=\"_ _9\"/>Aegis LPG Ltd.<span class=\"_ _7\"/> - acquisition <span class=\"ff1\"> </span>On 25 May 2022, <span class=\"_ _9\"/>V<span class=\"_ _3\"/>opak acquired a 49% shareholding in the A<span class=\"_ _3\"/>egis <span class=\"_ _3\"/>V<span class=\"_ _3\"/>opak <span class=\"_ _9\"/>T<span class=\"_ _9\"/>erminals Ltd. entity and a 24% shareholding in the Hindustan A<span class=\"_ _7\"/>egis LPG Ltd. entity<span class=\"_ _3\"/>. <span class=\"_ _9\"/>The successful completion  of the Indian joint vent<span class=\"_ _7\"/>ure with A<span class=\"_ _3\"/>egis, positions <span class=\"_ _3\"/>V<span class=\"_ _3\"/>opak as the largest storage provider f<span class=\"_ _7\"/>or  LPG and c<span class=\"_ _3\"/>hemicals in India. <span class=\"_ _9\"/>The acquisition date f<span class=\"_ _7\"/>air value of the consideration transf<span class=\"_ _3\"/>erred amounts to EUR 226.3 million, of whic<span class=\"_ _3\"/>h EUR 1<span class=\"_ _3\"/>7<span class=\"_ _9\"/>4.2 million was paid in cash and <span class=\"ls6\"> </span>EUR 52.1 million is contingent upon the occurrence of certain future e<span class=\"_ _7\"/>vents. The conditional pa<span class=\"_ _7\"/>yments depend on meeting (mec<span class=\"_ _3\"/>hanical) completion for certain projects (EUR 32.6 million) and ex<span class=\"_ _7\"/>ceeding certain revenue targets in the period up till 30 September 2025 (EUR 1<span class=\"_ _3\"/>9.5 million). <span class=\"_ _9\"/>The cash outflo<span class=\"_ _7\"/>ws for these pa<span class=\"_ _7\"/>yments are currently expected  in the period 2023-2025 and hav<span class=\"_ _7\"/>e been measured based on their discounted value (8%).  The Group is still w<span class=\"_ _7\"/>orking on the notional purc<span class=\"_ _3\"/>hase price allocation for this joint vent<span class=\"_ _7\"/>ure  and associate, and expects to finaliz<span class=\"_ _7\"/>e this within twelve months af<span class=\"_ _3\"/>ter acquisition date.  In connection with these acquisitions, transaction-related expenses w<span class=\"_ _7\"/>ere incurred for EUR 1<span class=\"_ _8\"/>.2 million. Diize - fr<span class=\"_ _7\"/>om subsidiary to joint v<span class=\"_ _7\"/>entur<span class=\"_ _7\"/>e <span class=\"ff1\"> </span>In December 2022, follo<span class=\"_ _7\"/>wing the partial divestment of 50% of the shareholding in Diiz<span class=\"_ _7\"/>e B.V<span class=\"_ _1\"/>. V<span class=\"_ _3\"/>opak derecognized the assets and liabilities of Diiz<span class=\"_ _7\"/>e B.V<span class=\"_ _1\"/>. and recognized the retained 50% shareholding at EUR 0.1 million. Af<span class=\"_ _3\"/>ter the partial divestment, <span class=\"_ _9\"/>V<span class=\"_ _3\"/>opak holds a 50% equity st<span class=\"_ _5\"/>ake whic<span class=\"_ _3\"/>h classifies as a joint venture. Ger<span class=\"_ _7\"/>man <span class=\"_\"> </span>LNG T<span class=\"_ _8\"/>ermina<span class=\"ws3\">l - div<span class=\"_ _7\"/>estment <span class=\"ff1\"> </span></span>As a result of <span class=\"_ _9\"/>V<span class=\"_ _3\"/>opak\u2019<span class=\"_ _9\"/>s divestment of its 33.3% shareholding in the German LNG <span class=\"_ _9\"/>T<span class=\"_ _8\"/>erminal GmbH, an impairment rev<span class=\"_ _7\"/>ersal of EUR 3.8 million was recorded as an e<span class=\"_ _7\"/>xceptional gain. This re<span class=\"_ _7\"/>versal partially of<span class=\"_ _3\"/>fsets the impairment of EUR 1<span class=\"_ _3\"/>0.8 million recognized in the third quarter of 2021<span class=\"_ _8\"/>. Contingent proceeds dependent on the final inv<span class=\"_ _7\"/>estment decision (FID) of   the project amounted to EUR 8.9 million. A<span class=\"_ _7\"/>s at the reporting date respective conditions were not y<span class=\"_ _7\"/>et met.  Thai T<span class=\"_ _8\"/>ank T<span class=\"_ _8\"/>er<span class=\"_ _7\"/>minal <span class=\"_\"> </span>- <span class=\"_ _a\"> </span>part<span class=\"ws3\">ial divestment <span class=\"ff1\"> </span></span>In December 2022, an ex<span class=\"_ _7\"/>ceptional gain of EUR 5.2 million was recorded related to the dilution of 1<span class=\"_ _3\"/>4% equit<span class=\"_ _5\"/>y stake in <span class=\"_ _9\"/>T<span class=\"_ _7\"/>hai <span class=\"_ _9\"/>T<span class=\"_ _9\"/>ank <span class=\"_ _9\"/>T<span class=\"_ _8\"/>erminal Ltd. located in <span class=\"_ _9\"/>Thailand. <span class=\"_ _7\"/>Af<span class=\"_ _7\"/>ter the dilution V<span class=\"_ _3\"/>opak holds an equity st<span class=\"_ _5\"/>ake of 35% whic<span class=\"_ _3\"/>h continues to be classified as a joint vent<span class=\"_ _7\"/>ure.  2021 Jubail Chemicals Stor<span class=\"_ _7\"/>age and Services Compan<span class=\"_ _3\"/>y - partial divestment <span class=\"ff1\"> </span>In the fourth quarter of 2021 an e<span class=\"_ _7\"/>xceptional loss of EUR 0.7 million w<span class=\"_ _7\"/>as recorded related  to a partial divestment of a 3% equity stake in the terminal Jubail Chemicals Storage and Ser<span class=\"_ _5\"/>vices Company (JCSSC) located in Saudi <span class=\"_ _7\"/>Arabia. Af<span class=\"_ _3\"/>ter the divestment <span class=\"_ _9\"/>V<span class=\"_ _3\"/>opak holds a 22% equity st<span class=\"_ _5\"/>ake in the associate.   Summar<span class=\"_ _7\"/>ized inf<span class=\"_ _7\"/>or<span class=\"_ _3\"/>mation of joint ventur<span class=\"_ _7\"/>es and associates on a 1<span class=\"_ _9\"/>0<span class=\"_ _5\"/>0% basis The f<span class=\"_ _7\"/>ollowing inf<span class=\"_ _7\"/>ormation reflects the amounts presented in the financial statements of the joint vent<span class=\"_ _7\"/>ures and associates adjusted for dif<span class=\"_ _3\"/>f<span class=\"_ _7\"/>erences in accounting policies bet<span class=\"_ _5\"/>w<span class=\"_ _7\"/>een the Group and the joint vent<span class=\"_ _7\"/>ures and associates and, when applicable, the ef<span class=\"_ _3\"/>fects of the purc<span class=\"_ _3\"/>hase price allocation performed by the Group with regard to the acquisition of the joint vent<span class=\"_ _7\"/>ure or associate. Summar<span class=\"_ _3\"/>ized statement of t<span class=\"_ _3\"/>otal comprehensiv<span class=\"_ _7\"/>e income T<span class=\"_ _8\"/>otal joint Asia &amp;   China &amp; New Energ<span class=\"_ _7\"/>y vent<span class=\"_ _7\"/>ures and of whic<span class=\"_ _7\"/>h  joint of whic<span class=\"_ _7\"/>h  Amer<span class=\"_ _7\"/>icas Middle East North Asia <span class=\"_ _26\"> </span>Europe <span class=\"_ _5\"/>&amp; Africa &amp; LNG <span class=\"_ _1bb\"> </span>Other associates vent<span class=\"_ _7\"/>ures associates In EUR millions <span class=\"_ _19e\"> </span>2022 <span class=\"_ _289\"> </span><span class=\"fc7\">2021 <span class=\"_ _289\"> </span></span>2022 <span class=\"_ _289\"> </span><span class=\"fc7\">2021 <span class=\"_ _8f\"> </span></span>2022 <span class=\"_ _289\"> </span><span class=\"fc7\">2021 <span class=\"_ _289\"> </span></span>2022 <span class=\"_ _289\"> </span><span class=\"fc7\">2021 <span class=\"_ _8f\"> </span></span>2022 <span class=\"_ _289\"> </span><span class=\"fc7\">2021 <span class=\"_ _289\"> </span></span>2022 <span class=\"_ _289\"> </span><span class=\"fc7\">2021 <span class=\"_ _8f\"> </span></span>2022 <span class=\"_ _289\"> </span><span class=\"fc7\">2021 <span class=\"_ _289\"> </span></span>2022 <span class=\"_ _8f\"> </span><span class=\"fc7\">2021 <span class=\"_ _289\"> </span></span>2022 <span class=\"_ _289\"> </span>2021Re<span class=\"_ _7\"/>venues <span class=\"_ _e5\"> </span>1<span class=\"_ _7\"/>97<span class=\"_ _1\"/>.3 <span class=\"_ _8e\"> </span>1<span class=\"_ _7\"/>55.6 <span class=\"_ _15b\"> </span>7<span class=\"_ _9\"/>41<span class=\"_ _9\"/>.5 <span class=\"_ _147\"> </span>606.4 <span class=\"_ _8f\"> </span>221<span class=\"_ _8\"/>.3 <span class=\"_ _8e\"> </span>213.8 <span class=\"_ _9d\"> </span>49.6 <span class=\"_ _9d\"> </span>52.0 <span class=\"_ _8e\"> </span>31<span class=\"_ _7\"/>6.1 <span class=\"_ _147\"> </span>303.2 <span class=\"_ _aa\"> </span>1<span class=\"_ _9\"/>.0 <span class=\"_ _d2\"> </span>\u2013 <span class=\"_ _1d\"> </span>1,526.8 <span class=\"_ _13\"> </span>1,331<span class=\"_ _9\"/>.0 <span class=\"_ _147\"> </span><span class=\"ff41\">895.8 <span class=\"_ _8e\"> </span>81<span class=\"_ _7\"/>0.1 <span class=\"_ _8f\"> </span>631<span class=\"_ _8\"/>.0 <span class=\"_ _90\"> </span>520.9 </span>Other income <span class=\"_ _a9\"> </span>40.0 <span class=\"_ _19\"> </span>39.1 <span class=\"_ _22c\"> </span>5.6 <span class=\"_ _233\"> </span>1<span class=\"_ _3\"/>0.7 <span class=\"_ _1b\"> </span>1<span class=\"_ _7\"/>8.7 <span class=\"_ _1b\"> </span>1<span class=\"_ _7\"/>2.0 <span class=\"_ _156\"> </span>1<span class=\"_ _9\"/>.1 <span class=\"_ _9d\"> </span>- 0.2 <span class=\"_ _17\"> </span><span class=\"ls9e wsec\">111.<span class=\"_ _4\"/>5<span class=\"_ _4\"> </span> <span class=\"_ _8e\"> </span></span>1<span class=\"_ _7\"/>55.3 <span class=\"_ _d2\"> </span>\u2013 <span class=\"_ _d2\"> </span>\u2013 <span class=\"_ _8f\"> </span>1<span class=\"_ _3\"/>7<span class=\"_ _7\"/>6.9 <span class=\"_ _8e\"> </span>21<span class=\"_ _7\"/>6.9 <span class=\"_ _9d\"> </span><span class=\"ff41\">56.4 <span class=\"_ _289\"> </span>1<span class=\"_ _3\"/>09.9 <span class=\"_ _8e\"> </span>1<span class=\"_ _7\"/>20.5 <span class=\"_ _15b\"> </span>1<span class=\"_ _3\"/>07<span class=\"_ _8\"/>.0 </span>Operating expenses <span class=\"_ _165\"> </span>- 1<span class=\"_ _7\"/>47<span class=\"_ _1\"/>.9 <span class=\"_ _10a\"> </span>- 1<span class=\"_ _7\"/>23.3 <span class=\"_ _37\"> </span>- 21<span class=\"_ _3\"/>7<span class=\"_ _8\"/>.5 <span class=\"_ _10a\"> </span>- 1<span class=\"_ _3\"/>33.8 <span class=\"_ _90\"> </span>- 73.4 <span class=\"_ _147\"> </span>- 58.3 <span class=\"_ _8e\"> </span>- 1<span class=\"_ _7\"/>9.3 <span class=\"_ _90\"> </span>- 18.5 <span class=\"_ _10a\"> </span>- 1<span class=\"_ _3\"/>09.9 <span class=\"_ _147\"> </span>- 99.9 <span class=\"_ _19\"> </span>- 2.9 <span class=\"_ _9d\"> </span>- 0.9 <span class=\"_ _1dc\"> </span>- 570.9 <span class=\"_ _1dc\"> </span>- 434.7 <span class=\"_ _10a\"> </span><span class=\"ff41\">- 31<span class=\"_ _3\"/>2.5 <span class=\"_ _27a\"> </span>- 27<span class=\"_ _3\"/>6.8 <span class=\"_ _1dc\"> </span>- 258.4 <span class=\"_ _37\"> </span>- 1<span class=\"_ _3\"/>57<span class=\"_ _1\"/>.9 </span>EBITD<span class=\"_ _7\"/>A 89.4 <span class=\"_ _21c\"> </span>71.4 <span class=\"_ _b\"> </span>529.6 <span class=\"_ _b\"> </span>483.3 <span class=\"_ _b\"> </span>166.6 <span class=\"_ _147\"> </span>167<span class=\"_ _8\"/>.5 <span class=\"_ _1a\"> </span>31<span class=\"_ _3\"/>.4 <span class=\"_ _21c\"> </span>33.3 <span class=\"_ _90\"> </span>317<span class=\"_ _1\"/>.7 <span class=\"_ _b\"> </span>358.6 <span class=\"_ _17\"> </span>- 1.9 <span class=\"_ _143\"> </span>- 0.9 <span class=\"_ _192\"> </span>1,132.8 <span class=\"_ _28\"> </span>1,1<span class=\"_ _9\"/>13.2 <span class=\"_ _232\"> </span><span class=\"ff19\">639.7 <span class=\"_ _b\"> </span>643.2 <span class=\"_ _232\"> </span>493.1 <span class=\"_ _b\"> </span>470.0 </span>Depreciation and amortization <span class=\"_ _19c\"> </span>- 28.8 <span class=\"_ _147\"> </span>- 20.4 <span class=\"_ _10a\"> </span>- 1<span class=\"_ _7\"/>95.3 <span class=\"_ _10a\"> </span>- 1<span class=\"_ _3\"/>58.7 <span class=\"_ _8f\"> </span>- 41<span class=\"_ _9\"/>.2 <span class=\"_ _147\"> </span>- 49.4 <span class=\"_ _8e\"> </span>- 1<span class=\"_ _7\"/>3.2 <span class=\"_ _8e\"> </span>- 1<span class=\"_ _7\"/>3.2 <span class=\"_ _147\"> </span>- 80.5 <span class=\"_ _8f\"> </span>- 91<span class=\"_ _9\"/>.4 <span class=\"_ _d2\"> </span>\u2013 <span class=\"_ _d2\"> </span>\u2013 <span class=\"_ _10b\"> </span>- 359.0 <span class=\"_ _1dc\"> </span>- 333.1 <span class=\"_ _10a\"> </span><span class=\"ff41\">- 1<span class=\"_ _7\"/>89.1 <span class=\"_ _37\"> </span>- 1<span class=\"_ _7\"/>87<span class=\"_ _1\"/>.1 <span class=\"_ _10a\"> </span>- 1<span class=\"_ _7\"/>69.9 <span class=\"_ _10a\"> </span>- 1<span class=\"_ _3\"/>46.0 </span>Impairment <span class=\"_ _1a6\"> </span>\u2013 <span class=\"_ _9d\"> </span>- 9.7 <span class=\"_ _d2\"> </span>\u2013 <span class=\"_ _9d\"> </span>- 2.1 <span class=\"_ _d2\"> </span>\u2013 <span class=\"_ _19\"> </span>- 0.5 <span class=\"_ _d2\"> </span>\u2013 <span class=\"_ _d2\"> </span>\u2013 <span class=\"_ _147\"> </span>- 80.9 <span class=\"_ _147\"> </span>- 29.0 <span class=\"_ _d2\"> </span>\u2013 <span class=\"_ _d2\"> </span>\u2013 <span class=\"_ _90\"> </span>- 80.9 <span class=\"_ _8f\"> </span>- 41<span class=\"_ _9\"/>.3 <span class=\"_ _16\"> </span><span class=\"ff41\">1<span class=\"_ _9\"/>1<span class=\"_ _9\"/>.6 <span class=\"_ _8f\"> </span>- 41<span class=\"_ _9\"/>.2 <span class=\"_ _147\"> </span>- 92.5 <span class=\"_ _9d\"> </span>- 0.1 </span>Operating pr<span class=\"_ _7\"/>ofit (EBIT) 60.6 <span class=\"_ _21c\"> </span>41.3 <span class=\"_ _b\"> </span>334.3 <span class=\"_ _b\"> </span>322.5 <span class=\"_ _b\"> </span>125.4 <span class=\"_ _8f\"> </span>1<span class=\"_ _9\"/>17<span class=\"_ _1\"/>.6 <span class=\"_ _21c\"> </span>18.2 <span class=\"_ _17\"> </span>20.1 <span class=\"_ _b\"> </span>156.3 <span class=\"_ _b\"> </span>238.2 <span class=\"_ _17\"> </span>- 1.9 <span class=\"_ _143\"> </span>- 0.9 <span class=\"_ _b\"> </span>692.9 <span class=\"_ _232\"> </span>738.8 <span class=\"_ _b\"> </span><span class=\"ff19\">462.2 <span class=\"_ _232\"> </span>414.9 <span class=\"_ _b\"> </span>230.7 <span class=\"_ _b\"> </span>323.9 </span>Net finance costs <span class=\"_ _258\"> </span>- 1<span class=\"_ _3\"/>7<span class=\"_ _1\"/>.1 <span class=\"_ _8e\"> </span>- 1<span class=\"_ _7\"/>2.9 <span class=\"_ _147\"> </span>- 78.7 <span class=\"_ _142\"> </span>- 47<span class=\"_ _1\"/>.6 <span class=\"_ _8e\"> </span>- 1<span class=\"_ _7\"/>0.2 <span class=\"_ _9d\"> </span>- 9.1 <span class=\"_ _19\"> </span>- 4.9 <span class=\"_ _9d\"> </span>- 5.6 <span class=\"_ _90\"> </span>- 70.2 <span class=\"_ _147\"> </span>- 65.5 <span class=\"_ _d2\"> </span>\u2013 <span class=\"_ _d2\"> </span>\u2013 <span class=\"_ _fe\"> </span>- 181<span class=\"_ _9\"/>.1 <span class=\"_ _1dc\"> </span>- 140.7 <span class=\"_ _147\"> </span><span class=\"ff41\">- 78.4 <span class=\"_ _147\"> </span>- 52.3 <span class=\"_ _10a\"> </span>- 1<span class=\"_ _3\"/>02.7 <span class=\"_ _147\"> </span>- 88.4 </span>Income tax <span class=\"_ _28a\"> </span>- 0.1 <span class=\"_ _9d\"> </span>- 0.2 <span class=\"_ _289\"> </span>- 1<span class=\"_ _3\"/>0.1 <span class=\"_ _147\"> </span>- 20.8 <span class=\"_ _90\"> </span>- 25.3 <span class=\"_ _90\"> </span>- 16.6 <span class=\"_ _9d\"> </span>- 2.4 <span class=\"_ _9d\"> </span>- 2.7 <span class=\"_ _147\"> </span>- 34.9 <span class=\"_ _90\"> </span>- 62.1 <span class=\"_ _d2\"> </span>\u2013 <span class=\"_ _d2\"> </span>\u2013 <span class=\"_ _147\"> </span>- 72.8 <span class=\"_ _27a\"> </span>- 1<span class=\"_ _9\"/>02.4 <span class=\"_ _90\"> </span><span class=\"ff41\">- 72.0 <span class=\"_ _147\"> </span>- 78.5 <span class=\"_ _19\"> </span>- 0.8 <span class=\"_ _147\"> </span>- 23.9 </span>Net profit 43.4 <span class=\"_ _17\"> </span>28.2 <span class=\"_ _b\"> </span>245.5 <span class=\"_ _232\"> </span>254.1 <span class=\"_ _17\"> </span>89.9 <span class=\"_ _1a\"> </span>91<span class=\"_ _3\"/>.9 <span class=\"_ _1a\"> </span>1<span class=\"_ _7\"/>0.9 <span class=\"_ _19\"> </span>1<span class=\"_ _9\"/>1<span class=\"_ _7\"/>.8 <span class=\"_ _1a\"> </span>51<span class=\"_ _3\"/>.2 <span class=\"_ _147\"> </span>1<span class=\"_ _3\"/>1<span class=\"_ _3\"/>0.6 <span class=\"_ _21c\"> </span>- 1<span class=\"_ _3\"/>.9 <span class=\"_ _120\"> </span>- 0.9 <span class=\"_ _232\"> </span>439.0 <span class=\"_ _b\"> </span>495.7 <span class=\"_ _147\"> </span><span class=\"ff19\">31<span class=\"_ _9\"/>1.8 <span class=\"_ _b\"> </span>284.1 <span class=\"_ _147\"> </span>127<span class=\"_ _1\"/>.2 <span class=\"_ _147\"> </span>21<span class=\"_ _9\"/>1.6 </span>Other comprehensive income <span class=\"_ _88\"> </span>42.8 <span class=\"_ _b2\"> </span>- 7<span class=\"_ _1\"/>.4 <span class=\"_ _b2\"> </span>87<span class=\"_ _8\"/>.1 <span class=\"_ _9d\"> </span>44.2 <span class=\"_ _d2\"> </span>\u2013 <span class=\"_ _d2\"> </span>\u2013 <span class=\"_ _d2\"> </span>\u2013 <span class=\"_ _d2\"> </span>\u2013 <span class=\"_ _19\"> </span>46.5 <span class=\"_ _9d\"> </span>22.9 <span class=\"_ _d2\"> </span>\u2013 <span class=\"_ _d2\"> </span>\u2013 <span class=\"_ _8f\"> </span>1<span class=\"_ _7\"/>7<span class=\"_ _3\"/>6.4 <span class=\"_ _19\"> </span>59.7 <span class=\"_ _9d\"> </span><span class=\"ff41\">93.5 <span class=\"_ _1b\"> </span>1<span class=\"_ _7\"/>9.9 <span class=\"_ _9d\"> </span>82.9 <span class=\"_ _19\"> </span>39.8 </span>T<span class=\"_ _8\"/>otal comprehensiv<span class=\"_ _7\"/>e income <span class=\"_ _83\"> </span><span class=\"fc0\">86.2 <span class=\"_ _17\"> </span></span>20.8 <span class=\"_ _b\"> </span><span class=\"fc0\">332.6 <span class=\"_ _b\"> </span></span>298.3 <span class=\"_ _21c\"> </span><span class=\"fc0\">89.9 <span class=\"_ _21c\"> </span></span>91<span class=\"_ _7\"/>.9 <span class=\"_ _1a\"> </span>1<span class=\"_ _3\"/>0.9 <span class=\"_ _19\"> </span>1<span class=\"_ _3\"/>1<span class=\"_ _7\"/>.8 <span class=\"_ _19\"> </span>97<span class=\"_ _8\"/>.7 <span class=\"_ _b\"> </span><span class=\"fcb\">133.5 <span class=\"_ _17\"> </span></span>- 1.9 <span class=\"_ _143\"> </span><span class=\"fcb\">- 0.9 <span class=\"_ _b\"> </span></span>615.4 <span class=\"_ _232\"> </span><span class=\"fcb\">555.4 <span class=\"_ _b\"> </span></span><span class=\"ff19\">405.3 <span class=\"_ _232\"> </span><span class=\"fcb\">304.0 <span class=\"_ _13c\"> </span></span>21<span class=\"_ _3\"/>0.1 <span class=\"_ _13c\"> </span><span class=\"fcb\">251<span class=\"_ _7\"/>.4 </span></span>V<span class=\"_ _3\"/>opak's share of net profit <span class=\"_ _1ad\"> </span>1<span class=\"_ _3\"/>4.5 <span class=\"_ _3a\"> </span>7<span class=\"_ _8\"/>.2 <span class=\"_ _9d\"> </span>79.0 <span class=\"_ _19\"> </span>86.1 <span class=\"_ _9d\"> </span>40.2 <span class=\"_ _19\"> </span>38.9 <span class=\"_ _22c\"> </span>3.0 <span class=\"_ _155\"> </span>4.0 <span class=\"_ _9d\"> </span>26.5 <span class=\"_ _19\"> </span>36.5 <span class=\"_ _9d\"> </span>- 0.9 <span class=\"_ _19\"> </span>- 0.4 <span class=\"_ _90\"> </span>162.3 <span class=\"_ _90\"> </span>1<span class=\"_ _7\"/>72.3 <span class=\"_ _8e\"> </span><span class=\"ff41\">1<span class=\"_ _7\"/>43.0 <span class=\"_ _8f\"> </span>1<span class=\"_ _9\"/>13.1 <span class=\"_ _19\"> </span>1<span class=\"_ _7\"/>9.3 <span class=\"_ _19\"> </span>59.2 </span>V<span class=\"_ _3\"/>opak's share of other comprehensive income <span class=\"_ _5c\"> </span>21<span class=\"_ _8\"/>.4 <span class=\"_ _19\"> </span>- 3.7 <span class=\"_ _9d\"> </span>24.0 <span class=\"_ _1b\"> </span>1<span class=\"_ _7\"/>2.5 <span class=\"_ _d2\"> </span>\u2013 <span class=\"_ _d2\"> </span>\u2013 <span class=\"_ _d2\"> </span>\u2013 <span class=\"_ _d2\"> </span>\u2013 <span class=\"_ _9d\"> </span>23.2 <span class=\"_ _11\"> </span>1<span class=\"_ _9\"/>1<span class=\"_ _9\"/>.4 <span class=\"_ _d2\"> </span>\u2013 <span class=\"_ _d2\"> </span>\u2013 <span class=\"_ _9d\"> </span>68.6 <span class=\"_ _19\"> </span>20.2 <span class=\"_ _9d\"> </span><span class=\"ff41\">46.6 <span class=\"_ _155\"> </span>9.7 <span class=\"_ _9d\"> </span>22.0 <span class=\"_ _1b\"> </span>1<span class=\"_ _7\"/>0.5 </span>V<span class=\"_ _9\"/>opak's share of total comprehensiv<span class=\"_ _7\"/>e income <span class=\"_ _173\"> </span><span class=\"fc0\">35.9 <span class=\"_ _60\"> </span></span>3.5 <span class=\"_ _232\"> </span><span class=\"fc0\">103.0 <span class=\"_ _120\"> </span></span>98.6 <span class=\"_ _17\"> </span><span class=\"fc0\">40.2 <span class=\"_ _21c\"> </span></span>38.9 <span class=\"_ _60\"> </span><span class=\"fc0\">3.0 <span class=\"_ _60\"> </span></span>4.0 <span class=\"_ _17\"> </span><span class=\"fc0\">49.7 <span class=\"_ _19\"> </span></span>47<span class=\"_ _8\"/>.9 <span class=\"_ _120\"> </span><span class=\"fc0\">- 0.9 <span class=\"_ _120\"> </span></span>- 0.4 <span class=\"_ _b\"> </span><span class=\"fc0\">230.9 <span class=\"_ _232\"> </span></span>192.5 <span class=\"_ _232\"> </span><span class=\"ff19 fc0\">189.6 <span class=\"_ _b\"> </span><span class=\"fcb\">122.8 <span class=\"_ _21c\"> </span></span>41.3 <span class=\"_ _120\"> </span><span class=\"fcb\">69.7 </span></span>2022 In Marc<span class=\"_ _3\"/>h 2020, a fire incident took place in the adjacent RAPID facility<span class=\"_ _3\"/>, leading to a subsequent closure of the facility<span class=\"_ _3\"/>. One of PT2SB\u2019<span class=\"_ _9\"/>s anc<span class=\"_ _7\"/>hor customers has since been out of operation. F<span class=\"_ _7\"/>ollowing another incident in 2022, the refinery is only expected to resume first half of 2023. <span class=\"_ _9\"/>T<span class=\"_ _7\"/>he refiner<span class=\"_ _5\"/>y closure weak<span class=\"_ _7\"/>ened its liquidit<span class=\"_ _5\"/>y position whic<span class=\"_ _3\"/>h may impact PT2SB\u2019<span class=\"_ _9\"/>s financial performance in 2023. <span class=\"_ _7\"/>As at 31 December 2022, PT2SB<span class=\"_ _7\"/>, classified as an associate, has reported net accounts receivable balances f<span class=\"_ _7\"/>or contractually deliv<span class=\"_ _7\"/>ered ser<span class=\"_ _5\"/>vices of around EUR 1<span class=\"_ _3\"/>73 million (31 December 2021: EUR 88 million) (on a 1<span class=\"_ _3\"/>00% basis). Mitigating the situation is a priority for PT2SB and its shareholders. 2021 In the third quarter of 2021, an ex<span class=\"_ _7\"/>ceptional gain of EUR 2.2 million was recogniz<span class=\"_ _7\"/>ed in the result of joint vent<span class=\"_ _7\"/>ures and associates relating to a partial release of a tax provision that was recognized in a joint v<span class=\"_ _7\"/>enture terminal within the <span class=\"_ _3\"/>Asia &amp; Middle East division at the end of 20<span class=\"_ _3\"/>1<span class=\"_ _3\"/>9. F<span class=\"_ _7\"/>or more information on the impairments recogniz<span class=\"_ _7\"/>ed on the inv<span class=\"_ _7\"/>estments in joint vent<span class=\"_ _7\"/>ures and associates, ref<span class=\"_ _7\"/>erence is made to note 3.8. Summar<span class=\"_ _3\"/>ized statement of financial position at 31 December T<span class=\"_ _8\"/>otal joint Asia &amp;   China &amp; New Energ<span class=\"_ _7\"/>y vent<span class=\"_ _7\"/>ures and of whic<span class=\"_ _7\"/>h  joint of whic<span class=\"_ _7\"/>h  Amer<span class=\"_ _7\"/>icas Middle East North Asia <span class=\"_ _26\"> </span>Europe <span class=\"_ _5\"/>&amp; Africa &amp; LNG <span class=\"_ _1bb\"> </span>Other associates vent<span class=\"_ _7\"/>ures associates In EUR millions <span class=\"_ _19e\"> </span>2022 <span class=\"_ _289\"> </span><span class=\"fc7\">2021 <span class=\"_ _289\"> </span></span>2022 <span class=\"_ _289\"> </span><span class=\"fc7\">2021 <span class=\"_ _8f\"> </span></span>2022 <span class=\"_ _289\"> </span><span class=\"fc7\">2021 <span class=\"_ _289\"> </span></span>2022 <span class=\"_ _289\"> </span><span class=\"fc7\">2021 <span class=\"_ _8f\"> </span></span>2022 <span class=\"_ _289\"> </span><span class=\"fc7\">2021 <span class=\"_ _289\"> </span></span>2022 <span class=\"_ _289\"> </span><span class=\"fc7\">2021 <span class=\"_ _8f\"> </span></span>2022 <span class=\"_ _289\"> </span><span class=\"fc7\">2021 <span class=\"_ _289\"> </span></span>2022 <span class=\"_ _8f\"> </span><span class=\"fc7\">2021 <span class=\"_ _289\"> </span></span>2022 <span class=\"_ _289\"> </span>2021 Non-current assets <span class=\"_ _165\"> </span>1,205.0 <span class=\"_ _e7\"> </span>1,1<span class=\"_ _7\"/>30.6 <span class=\"_ _e7\"> </span>3,555.8 <span class=\"_ _13\"> </span>2,771<span class=\"_ _9\"/>.0 <span class=\"_ _1dc\"> </span>1,1<span class=\"_ _3\"/>0<span class=\"_ _3\"/>1<span class=\"_ _9\"/>.9 <span class=\"_ _1d\"> </span>1,000.8 <span class=\"_ _90\"> </span>205.4 <span class=\"_ _147\"> </span>209.9 <span class=\"_ _e7\"> </span>1,858.2 <span class=\"_ _e7\"> </span>1,984.8 <span class=\"_ _22c\"> </span>0.5 <span class=\"_ _155\"> </span>0.2 <span class=\"_ _12\"> </span>7<span class=\"_ _8\"/>,926.8 <span class=\"_ _27a\"> </span>7<span class=\"_ _1\"/>,097<span class=\"_ _1\"/>.3 <span class=\"_ _e7\"> </span><span class=\"ff41\">4,683.2 <span class=\"_ _10b\"> </span>3,977<span class=\"_ _1\"/>.2 <span class=\"_ _e7\"> </span>3,243.6 <span class=\"_ _18\"> </span>3,1<span class=\"_ _7\"/>20.1 </span>Cash and cash equivalents <span class=\"_ _161\"> </span>1<span class=\"_ _9\"/>7<span class=\"_ _8\"/>.2 <span class=\"_ _19\"> </span>18.6 <span class=\"_ _147\"> </span>388.0 <span class=\"_ _90\"> </span>319.2 <span class=\"_ _8f\"> </span>1<span class=\"_ _7\"/>91<span class=\"_ _9\"/>.9 <span class=\"_ _90\"> </span>146.2 <span class=\"_ _19\"> </span>1<span class=\"_ _7\"/>0.7 <span class=\"_ _1b\"> </span>1<span class=\"_ _7\"/>0.6 <span class=\"_ _90\"> </span>163.4 <span class=\"_ _90\"> </span>1<span class=\"_ _7\"/>39.4 <span class=\"_ _22c\"> </span>0.5 <span class=\"_ _aa\"> </span>1<span class=\"_ _9\"/>.0 <span class=\"_ _8f\"> </span>771<span class=\"_ _8\"/>.7 <span class=\"_ _90\"> </span>635.0 <span class=\"_ _147\"> </span><span class=\"ff41\">366.7 <span class=\"_ _147\"> </span>308.4 <span class=\"_ _90\"> </span>405.0 <span class=\"_ _147\"> </span>326.6 </span>Other current assets <span class=\"_ _135\"> </span>57<span class=\"_ _d\"/>.9 <span class=\"_ _19\"> </span>50.2 <span class=\"_ _90\"> </span>194.9 <span class=\"_ _147\"> </span>222.8 <span class=\"_ _9d\"> </span>48.9 <span class=\"_ _14\"> </span>51<span class=\"_ _9\"/>.1 <span class=\"_ _1b\"> </span>1<span class=\"_ _3\"/>0.0 <span class=\"_ _11\"> </span>1<span class=\"_ _7\"/>7<span class=\"_ _1\"/>.3 <span class=\"_ _9d\"> </span>85.2 <span class=\"_ _289\"> </span>1<span class=\"_ _3\"/>04.1 <span class=\"_ _155\"> </span>0.6 <span class=\"_ _22c\"> </span>0.9 <span class=\"_ _116\"> </span>397<span class=\"_ _1\"/>.5 <span class=\"_ _90\"> </span>446.4 <span class=\"_ _8e\"> </span><span class=\"ff41\">1<span class=\"_ _7\"/>94.1 <span class=\"_ _90\"> </span>169.1 <span class=\"_ _147\"> </span>203.4 <span class=\"_ _116\"> </span>277<span class=\"_ _1\"/>.3 </span>T<span class=\"_ _8\"/>otal assets 1280.1 <span class=\"_ _192\"> </span>1,199.4 <span class=\"_ _192\"> </span>4,138.7 <span class=\"_ _192\"> </span>3,313.0 <span class=\"_ _192\"> </span>1,342.7 <span class=\"_ _192\"> </span>1,198.1 <span class=\"_ _b\"> </span>226.1 <span class=\"_ _147\"> </span>237<span class=\"_ _8\"/>.8 <span class=\"_ _b3\"> </span>2,1<span class=\"_ _7\"/>06.8 <span class=\"_ _192\"> </span>2,228.3 <span class=\"_ _ad\"> </span>1.6 <span class=\"_ _27\"> </span>2.1 <span class=\"_ _192\"> </span>9,096.0 <span class=\"_ _b3\"> </span>8,1<span class=\"_ _7\"/>78.7 <span class=\"_ _192\"> </span><span class=\"ff19\">5,244.0 <span class=\"_ _192\"> </span>4,454.7 <span class=\"_ _192\"> </span>3,852.0 <span class=\"_ _192\"> </span>3,724.0 </span>Financial non-current liabilities <span class=\"_ _1b2\"> </span>386.7 <span class=\"_ _147\"> </span>363.1 <span class=\"_ _e7\"> </span>1,539.4 <span class=\"_ _15\"> </span>1,47<span class=\"_ _3\"/>6.0 <span class=\"_ _147\"> </span>322.2 <span class=\"_ _8e\"> </span>319.2 <span class=\"_ _147\"> </span>136.0 <span class=\"_ _90\"> </span>1<span class=\"_ _7\"/>49.6 <span class=\"_ _147\"> </span>922.3 <span class=\"_ _90\"> </span>989.3 <span class=\"_ _d2\"> </span>\u2013 <span class=\"_ _d2\"> </span>\u2013 <span class=\"_ _e7\"> </span>3,306.6 <span class=\"_ _12\"> </span>3,297<span class=\"_ _1\"/>.2 <span class=\"_ _e7\"> </span><span class=\"ff41\">1,583.1 <span class=\"_ _e7\"> </span>1,470.7 <span class=\"_ _e7\"> </span>1,723.5 <span class=\"_ _e7\"> </span>1,826.5 </span>Other non-current liabilities <span class=\"_ _161\"> </span>2.3 <span class=\"_ _155\"> </span>9.1 <span class=\"_ _8e\"> </span>1<span class=\"_ _3\"/>08.5 <span class=\"_ _8e\"> </span>154.2 <span class=\"_ _9d\"> </span>28.6 <span class=\"_ _9d\"> </span>25.5 <span class=\"_ _1b\"> </span>1<span class=\"_ _7\"/>2.7 <span class=\"_ _1b\"> </span>1<span class=\"_ _7\"/>3.8 <span class=\"_ _90\"> </span>183.0 <span class=\"_ _147\"> </span>250.8 <span class=\"_ _d2\"> </span>\u2013 <span class=\"_ _d2\"> </span>\u2013 <span class=\"_ _147\"> </span>335.1 <span class=\"_ _147\"> </span>453.4 <span class=\"_ _8e\"> </span><span class=\"ff41\">1<span class=\"_ _7\"/>36.7 <span class=\"_ _147\"> </span>205.4 <span class=\"_ _8e\"> </span>1<span class=\"_ _7\"/>98.4 <span class=\"_ _147\"> </span>248.0 </span>Financial current liabilities <span class=\"_ _f6\"> </span>1<span class=\"_ _7\"/>4.2 <span class=\"_ _19\"> </span>16.6 <span class=\"_ _147\"> </span>484.4 <span class=\"_ _90\"> </span>164.4 <span class=\"_ _233\"> </span>31<span class=\"_ _9\"/>.8 <span class=\"_ _19\"> </span>12.9 <span class=\"_ _19\"> </span>1<span class=\"_ _7\"/>5.6 <span class=\"_ _11\"> </span>1<span class=\"_ _3\"/>7<span class=\"_ _1\"/>.6 <span class=\"_ _8e\"> </span>138.6 <span class=\"_ _90\"> </span>1<span class=\"_ _7\"/>25.6 <span class=\"_ _d2\"> </span>\u2013 <span class=\"_ _d2\"> </span>\u2013 <span class=\"_ _147\"> </span>684.6 <span class=\"_ _116\"> </span>337<span class=\"_ _8\"/>.1 <span class=\"_ _8f\"> </span><span class=\"ff41\">461<span class=\"_ _8\"/>.3 <span class=\"_ _8e\"> </span>150.0 <span class=\"_ _147\"> </span>223.3 <span class=\"_ _116\"> </span>187<span class=\"_ _1\"/>.1 </span>Other current liabilities <span class=\"_ _166\"> </span>46.5 <span class=\"_ _16\"> </span>47<span class=\"_ _1\"/>.8 <span class=\"_ _8e\"> </span>21<span class=\"_ _7\"/>3.4 <span class=\"_ _8e\"> </span>1<span class=\"_ _3\"/>70.6 <span class=\"_ _8e\"> </span>139.1 <span class=\"_ _9d\"> </span>92.9 <span class=\"_ _9d\"> </span>20.5 <span class=\"_ _1b\"> </span>1<span class=\"_ _7\"/>3.9 <span class=\"_ _9d\"> </span>75.7 <span class=\"_ _19\"> </span>62.6 <span class=\"_ _156\"> </span>1<span class=\"_ _9\"/>.0 <span class=\"_ _155\"> </span>0.2 <span class=\"_ _147\"> </span>496.2 <span class=\"_ _147\"> </span>388.0 <span class=\"_ _116\"> </span><span class=\"ff41\">277<span class=\"_ _1\"/>.7 <span class=\"_ _90\"> </span>234.2 <span class=\"_ _90\"> </span>218.5 <span class=\"_ _90\"> </span>1<span class=\"_ _7\"/>53.8 </span>T<span class=\"_ _8\"/>otal liabilities 449.7 <span class=\"_ _b\"> </span>436.6 <span class=\"_ _192\"> </span>2,345.7 <span class=\"_ _192\"> </span>1,965.2 <span class=\"_ _13c\"> </span>521<span class=\"_ _7\"/>.7 <span class=\"_ _b\"> </span>450.5 <span class=\"_ _232\"> </span>184.8 <span class=\"_ _232\"> </span>194.9 <span class=\"_ _192\"> </span>1,319.6 <span class=\"_ _117\"> </span>1,428.3 <span class=\"_ _ad\"> </span>1.0 <span class=\"_ _27\"> </span>0.2 <span class=\"_ _192\"> </span>4,822.5 <span class=\"_ _192\"> </span>4,475.7 <span class=\"_ _192\"> </span><span class=\"ff19\">2,458.8 <span class=\"_ _192\"> </span>2,060.3 <span class=\"_ _192\"> </span>2,363.7 <span class=\"_ _192\"> </span>2,415.4 </span>Net assets <span class=\"_ _28a\"> </span><span class=\"fc0\">830.4 <span class=\"_ _232\"> </span></span>762.8 <span class=\"_ _117\"> </span><span class=\"fc0\">1,793.0 <span class=\"_ _1d\"> </span></span>1,347<span class=\"_ _1\"/>.8 <span class=\"_ _13c\"> </span><span class=\"fc0\">821.0 <span class=\"_ _90\"> </span></span>7<span class=\"_ _3\"/>47<span class=\"_ _8\"/>.6 <span class=\"_ _1a\"> </span>41<span class=\"_ _7\"/>.3 <span class=\"_ _17\"> </span><span class=\"fcb\">42.9 <span class=\"_ _147\"> </span></span>787<span class=\"_ _8\"/>.2 <span class=\"_ _b\"> </span><span class=\"fcb\">80<span class=\"_ _5\"/>0.0 <span class=\"_ _60\"> </span></span>0.6 <span class=\"_ _ad\"> </span>1<span class=\"_ _3\"/>.9 <span class=\"_ _192\"> </span><span class=\"fc0\">4,273.5 <span class=\"_ _192\"> </span></span>3,703.0 <span class=\"_ _192\"> </span><span class=\"ff19 fc0\">2,785.2 <span class=\"_ _192\"> </span><span class=\"fcb\">2,394.4 <span class=\"_ _192\"> </span></span>1,488.3 <span class=\"_ _192\"> </span><span class=\"fcb\">1,308.6 </span></span>V<span class=\"_ _3\"/>opak's share of net assets <span class=\"_ _81\"> </span>289.0 <span class=\"_ _142\"> </span>257<span class=\"_ _1\"/>.9 <span class=\"_ _147\"> </span>623.4 <span class=\"_ _8f\"> </span>481<span class=\"_ _9\"/>.1 <span class=\"_ _147\"> </span>360.3 <span class=\"_ _147\"> </span>336.5 <span class=\"_ _1b\"> </span>1<span class=\"_ _7\"/>9.1 <span class=\"_ _9d\"> </span>20.0 <span class=\"_ _90\"> </span>405.4 <span class=\"_ _147\"> </span>408.7 <span class=\"_ _155\"> </span>0.2 <span class=\"_ _22c\"> </span>0.9 <span class=\"_ _10b\"> </span>1,697<span class=\"_ _d\"/>.4 <span class=\"_ _e7\"> </span>1,505.1 <span class=\"_ _e7\"> </span><span class=\"ff41\">1,273.1 <span class=\"_ _e7\"> </span>1,098.2 <span class=\"_ _147\"> </span>424.3 <span class=\"_ _147\"> </span>406.9 </span>Goodwill on acquisition <span class=\"_ _16d\"> </span>36.6 <span class=\"_ _19\"> </span>34.4 <span class=\"_ _8e\"> </span>1<span class=\"_ _7\"/>05.4 <span class=\"_ _22c\"> </span>5.5 <span class=\"_ _155\"> </span>6.7 <span class=\"_ _22c\"> </span>6.9 <span class=\"_ _d2\"> </span>\u2013 <span class=\"_ _d2\"> </span>\u2013 <span class=\"_ _14\"> </span>31<span class=\"_ _9\"/>.7 <span class=\"_ _14\"> </span>31<span class=\"_ _9\"/>.4 <span class=\"_ _d2\"> </span>\u2013 <span class=\"_ _d2\"> </span>\u2013 <span class=\"_ _90\"> </span>180.4 <span class=\"_ _9d\"> </span>78.2 <span class=\"_ _90\"> </span><span class=\"ff41\">163.4 <span class=\"_ _b2\"> </span>67<span class=\"_ _d\"/>.3 <span class=\"_ _11\"> </span>1<span class=\"_ _7\"/>7<span class=\"_ _1\"/>.0 <span class=\"_ _1b\"> </span>1<span class=\"_ _7\"/>0.9 </span>V<span class=\"_ _9\"/>opak's carrying amount   of net assets <span class=\"_ _18c\"> </span><span class=\"fc0\">325.6 <span class=\"_ _232\"> </span></span>292.3 <span class=\"_ _b\"> </span><span class=\"fc0\">728.8 <span class=\"_ _232\"> </span></span>486.6 <span class=\"_ _147\"> </span>367<span class=\"_ _8\"/>.0 <span class=\"_ _b\"> </span><span class=\"fcb\">343.4 <span class=\"_ _21c\"> </span></span>19.1 <span class=\"_ _17\"> </span><span class=\"fcb\">20.0 <span class=\"_ _147\"> </span></span>437<span class=\"_ _8\"/>.1 <span class=\"_ _b\"> </span><span class=\"fcb\">440.1 <span class=\"_ _60\"> </span></span>0.2 <span class=\"_ _60\"> </span><span class=\"fcb\">0.9 <span class=\"_ _1d\"> </span></span>1,877<span class=\"_ _1\"/>.8 <span class=\"_ _192\"> </span><span class=\"fcb\">1,583.3 <span class=\"_ _192\"> </span></span><span class=\"ff19\">1,436.5 <span class=\"_ _192\"> </span><span class=\"fcb\">1,165.5 <span class=\"_ _13c\"> </span></span>441.3 <span class=\"_ _147\"> </span><span class=\"fcb\">417<span class=\"_ _1\"/>.8 </span></span>2022 Af<span class=\"_ _3\"/>ter completion of the purchase price allocation f<span class=\"_ _3\"/>or the A<span class=\"_ _7\"/>egis <span class=\"_ _3\"/>V<span class=\"_ _3\"/>opak <span class=\"_ _9\"/>T<span class=\"_ _8\"/>erminals Ltd. classified as a joint vent<span class=\"_ _7\"/>ure and Hindustan A<span class=\"_ _3\"/>egis LPG Ltd. classified as an associate, the respective provisionally determined goodwill balances amount to EUR 93.5 million and EUR 6.1 million. 2021 Af<span class=\"_ _3\"/>ter completion of the purchase price allocation f<span class=\"_ _3\"/>or the <span class=\"_ _3\"/>V<span class=\"_ _3\"/>opak Industrial Infrastructure Americas (VIIA) joint vent<span class=\"_ _7\"/>ure in the fourth quarter of 2021, the confirmed goodwill balance amounts to EUR 34.4 million. Contingent assets and liabilities The joint v<span class=\"_ _7\"/>entures and associates of the Group are cur<span class=\"_ _7\"/>rently<span class=\"_ _3\"/>, and may from time to time become, inv<span class=\"_ _7\"/>olved in a number of legal proceedings, including inquiries from, or discussions with, gov<span class=\"_ _7\"/>ernmental authorities (including t<span class=\"_ _5\"/>ax authorities) that are incidental to their operations. F<span class=\"_ _7\"/>or the contingent liabilities of the joint vent<span class=\"_ _7\"/>ures and associates as at year<span class=\"_ _9\"/>-end related to legal cases, it is based on the current f<span class=\"_ _7\"/>acts and circumst<span class=\"_ _5\"/>ances not believ<span class=\"_ _3\"/>ed that they ma<span class=\"_ _7\"/>y hav<span class=\"_ _7\"/>e a material adverse ef<span class=\"_ _3\"/>fect on the financial position or profitability of the Group. Due to inherent uncertainties, the Group cannot make any accurate quantification of an<span class=\"_ _7\"/>y cost, or timing of suc<span class=\"_ _3\"/>h cost, which ma<span class=\"_ _3\"/>y arise from any of the legal proceedings ref<span class=\"_ _7\"/>erred to in this report, how<span class=\"_ _7\"/>ev<span class=\"_ _7\"/>er costs in complex litigation ma<span class=\"_ _7\"/>y be subst<span class=\"_ _5\"/>antial. F<span class=\"_ _7\"/>or an ov<span class=\"_ _7\"/>er<span class=\"_ _5\"/>view of the commitments and contingent liabilities relating to our joint v<span class=\"_ _7\"/>entures and associates, ref<span class=\"_ _7\"/>erence is made to note 9.8. Joint v<span class=\"_ _7\"/>entur<span class=\"_ _7\"/>es and associates 2022 Ger<span class=\"_ _7\"/>man LNG <span class=\"_ _8\"/>T<span class=\"_ _8\"/>er<span class=\"_ _7\"/>minal in Ger<span class=\"_ _7\"/>man<span class=\"_ _7\"/>y (partial impair<span class=\"_ _3\"/>ment reversal) <span class=\"ff1\"> </span>In the first half year of 2022, as a result of <span class=\"_ _9\"/>V<span class=\"_ _3\"/>opak\u2019<span class=\"_ _9\"/>s divestment of its 33.3% shareholding in the German LNG <span class=\"_ _9\"/>T<span class=\"_ _8\"/>erminal GmbH, in the first half of 2022 an impairment reversal of EUR 3.8 million was recorded. <span class=\"_ _8\"/>This re<span class=\"_ _7\"/>versal partially of<span class=\"_ _3\"/>fsets the impairment of EUR 1<span class=\"_ _3\"/>0.8 million recognized in the third quarter of 2021<span class=\"_ _1\"/>. <span class=\"_ _9\"/>This impairment re<span class=\"_ _7\"/>versal is recorded as part of the Result of joint v<span class=\"_ _7\"/>entures and associates.  SPEC LNG ter<span class=\"_ _3\"/>minal in Colombia (impairment) <span class=\"ff1\"> </span>In the second quarter of 2022, an impairment was recogniz<span class=\"_ _7\"/>ed for the SPEC LNG terminal in Colombia for an amount of EUR 36.2 million. Mainly due to unusual w<span class=\"_ _7\"/>eather conditions in recent years whic<span class=\"_ _3\"/>h hav<span class=\"_ _7\"/>e brought a significant amount of rain in Colombia, hy<span class=\"_ _7\"/>dropow<span class=\"_ _7\"/>er has been av<span class=\"_ _7\"/>ailable as the main source of pow<span class=\"_ _7\"/>er<span class=\"_ _3\"/>, whic<span class=\"_ _7\"/>h resulted in a reduced utilization of the FSRU<span class=\"_ _7\"/>. In addition, the tight FSRU mark<span class=\"_ _7\"/>et associated with the Russia-Ukraine w<span class=\"_ _7\"/>ar is leading to the opportunity to reduce FSRU costs becoming remote. <span class=\"_ _3\"/>As a result of the abov<span class=\"_ _7\"/>e there is a decrease in dividend expectations. <span class=\"_ _9\"/>T<span class=\"_ _7\"/>his impairment is recorded as part of the Result of joint vent<span class=\"_ _7\"/>ures and associates. 2021 Ger<span class=\"_ _7\"/>man LNG <span class=\"_ _8\"/>T<span class=\"_ _8\"/>er<span class=\"_ _7\"/>minal in Ger<span class=\"_ _7\"/>man<span class=\"_ _7\"/>y (impair<span class=\"_ _7\"/>ment<span class=\"ff1\">)   </span>Af<span class=\"_ _3\"/>ter a strategic review<span class=\"_ _9\"/>, <span class=\"_ _3\"/>V<span class=\"_ _3\"/>opak decided to discontinue its active participation in the German LNG project leading to an ex<span class=\"_ _7\"/>ceptional loss of EUR 1<span class=\"_ _3\"/>0.8 million recognized in the third quarter of 2021<span class=\"_ _8\"/>.  LNG T<span class=\"_ _8\"/>er<span class=\"_ _7\"/>minal <span class=\"_ _4\"/>Altamira<span class=\"ws3\"> (impair<span class=\"_ _3\"/>ment)<span class=\"ff1\">   </span></span>Due to a new commercial agreement in place f<span class=\"_ _7\"/>or our LNG <span class=\"_ _9\"/>T<span class=\"_ _8\"/>erminal Altamira in Mexico the major assets in this joint vent<span class=\"_ _7\"/>ure are held under a finance lease arrangement. <span class=\"_ _7\"/>As a result, the carr<span class=\"_ _5\"/>ying amount of the joint v<span class=\"_ _7\"/>enture increased significantly and e<span class=\"_ _7\"/>xceeded its recov<span class=\"_ _3\"/>erable amount resulting in the derecognition of the goodwill balance for an amount of EUR 32.7 million. <span class=\"_ _9\"/>T<span class=\"_ _7\"/>he ov<span class=\"_ _7\"/>erall positive result from this transaction recogniz<span class=\"_ _7\"/>ed in the fourth quarter of 2021 amounts to EUR 2.8 million.  <span class=\"_ _1a\"> </span><span class=\"fs7 fcd\">Joint v<span class=\"_ _7\"/>entures  <span class=\"_ _bc\"> </span>Associates  <span class=\"_ _96\"> </span>T<span class=\"_ _9\"/>otal  </span>  <span class=\"_ _e6\"> </span> <span class=\"_ _7e\"> </span> <span class=\"_ _131\"> </span> <span class=\"_ _7e\"> </span> <span class=\"_ _4f\"> </span> In EUR millions  <span class=\"_ _2ba\"> </span>2022  <span class=\"_ _ce\"> </span><span class=\"fc7\">2021  <span class=\"_ _76\"> </span></span>2022  <span class=\"_ _ce\"> </span><span class=\"fc7\">2021  <span class=\"_ _76\"> </span></span>2022  <span class=\"_ _ce\"> </span>2021Other operating income  <span class=\"_ _4a\"> </span><span class=\"ws8e\">15.8  <span class=\"_ _fb\"> </span>13.6  <span class=\"_ _159\"> </span>0.9  <span class=\"_ _bc\"> </span>0.3  <span class=\"_ _b0\"> </span>1<span class=\"_ _7\"/>6.7  <span class=\"_ _b0\"> </span>1<span class=\"_ _7\"/>3.9  </span>A<span class=\"_ _7\"/>SSOCIA<span class=\"_ _9\"/>TES  Canada  Ridley Island LPG Export GP Inc. (30%)  China  Zhangzhou Gulei Haiteng Jet<span class=\"_ _3\"/>ty Investment and Management Co. Ltd. (30%)  Colombia  Sociedad P<span class=\"_ _3\"/>ortuaria El Cay<span class=\"_ _3\"/>o S.A. ESP (SPEC) (49%)  India  Hindustan A<span class=\"_ _7\"/>egis LPG Ltd. (24%)  Malaysia  P<span class=\"_ _3\"/>engerang <span class=\"_ _9\"/>T<span class=\"_ _9\"/>erminals (T<span class=\"_ _8\"/>wo) Sdn. Bhd. (25%)  The Nether<span class=\"_ _7\"/>lands  V<span class=\"_ _3\"/>opak <span class=\"_ _8\"/>T<span class=\"_ _9\"/>erminal Eemshaven B<span class=\"_ _3\"/>.V<span class=\"_ _9\"/>. (1<span class=\"_ _9\"/>0%)   9  Helios Eemshav<span class=\"_ _7\"/>en B.V<span class=\"_ _1\"/>. (8%)  Maasvlakte Olie <span class=\"_ _9\"/>T<span class=\"_ _8\"/>erminal N.V<span class=\"_ _9\"/>. (1<span class=\"_ _3\"/>6.67%)  P<span class=\"_ _7\"/>akistan  Engro Elengy <span class=\"_ _9\"/>T<span class=\"_ _8\"/>erminal Pakistan Ltd. (44%)  Saudi Arabia <span class=\"_ _5\"/> Jubail Chemicals Storage &amp; Services Company LLC / Chemtank (22%)  9 <span class=\"_ _24\"> </span>V<span class=\"_ _3\"/>opak has a 1<span class=\"_ _7\"/>0% share, holds 80% of the shares in Helios Eemshav<span class=\"_ _7\"/>en B.V<span class=\"_ _9\"/>.  ",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfSignificantInvestmentsInAssociatesExplanatory",
    "language": "en",
    "entity": "scheme:724500UL634GFV1KYF10",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
   }
  },
  "pp-value-52-4": {
   "value": "Note 2.7 Result of joint v<span class=\"_ _3\"/>entur<span class=\"_ _7\"/>es and associates A<span class=\"_ _1e\"> </span><span class=\"ff3 fs9\">Accounting policies </span>Joint v<span class=\"_ _7\"/>entures and associates are accounted f<span class=\"_ _7\"/>or using the equity method. For the accounting policies relating to joint vent<span class=\"_ _7\"/>ures and associates, ref<span class=\"_ _7\"/>erence is made to note 3.5. Result of joint vent<span class=\"_ _7\"/>ur<span class=\"_ _7\"/>es and associates In EUR millions <span class=\"_ _206\"> </span>Note <span class=\"_ _76\"> </span>2022 <span class=\"_ _76\"> </span>2021Result of joint v<span class=\"_ _7\"/>entures and associates <span class=\"_ _92\"> </span><span class=\"ff3 fc13\">3.5 <span class=\"_ _bd\"> </span></span>1<span class=\"_ _7\"/>94.7 <span class=\"_ _39\"> </span>215.8 Impairments joint vent<span class=\"_ _7\"/>ures and associates <span class=\"_ _2c\"> </span>3.5,<span class=\"_ _7\"/> 3.8 <span class=\"_ _bd\"> </span><span class=\"ff1 fc1\">- 36.2 <span class=\"_ _3a\"> </span>- 43.5 </span>Re<span class=\"_ _7\"/>versal of impairments joint vent<span class=\"_ _7\"/>ures and associates <span class=\"_ _86\"> </span>3.5,<span class=\"_ _7\"/> 3.8 <span class=\"_ _d0\"> </span><span class=\"ff1 fc1\">3.8 <span class=\"_ _55\"> </span>\u2013 </span>T<span class=\"_ _8\"/>otal <span class=\"_ _24d\"> </span><span class=\"fc0\">162.3 <span class=\"_ _38\"> </span></span>1<span class=\"_ _7\"/>72.3 Joint v<span class=\"_ _7\"/>entures are an important part of the Group. Summarized financial inf<span class=\"_ _7\"/>ormation of our joint vent<span class=\"_ _7\"/>ures and associates on an IFRS basis is presented in note 3.5.    In addition, the ef<span class=\"_ _7\"/>f<span class=\"_ _7\"/>ects of unaudited non-IFRS proportional consolidation on the statement of financial position and statement of income of the Group are presented under \u2018<span class=\"_ _1\"/>Additional information<span class=\"_ _3\"/>\u2019 accompanying this report. 2022 Exceptional gains/losses, w<span class=\"_ _7\"/>ere reported in Result of joint v<span class=\"_ _7\"/>entures and associates as f<span class=\"_ _7\"/>ollows: Impair<span class=\"_ _7\"/>ment SPEC LNG ter<span class=\"_ _3\"/>minal <span class=\"ff1\"> </span>In the second quarter an impairment was recogniz<span class=\"_ _7\"/>ed for the SPEC LNG terminal in Colombia for an amount of EUR 36.2 million. Mainly due to unusual w<span class=\"_ _7\"/>eather conditions in recent years whic<span class=\"_ _3\"/>h have brought a significant amount of rain in Colombia, h<span class=\"_ _7\"/>ydropo<span class=\"_ _7\"/>wer has been a<span class=\"_ _7\"/>vailable as the main source of pow<span class=\"_ _7\"/>er<span class=\"_ _3\"/>, whic<span class=\"_ _3\"/>h resulted in a reduced utilization of the FSRU. In addition, the tight FSRU mark<span class=\"_ _7\"/>et associated with the Russia-Ukraine w<span class=\"_ _7\"/>ar is leading to the opportunity to reduce FSRU costs becoming remote. <span class=\"_ _7\"/>As a result of the abo<span class=\"_ _7\"/>ve there is a decrease in dividend expectations Divestment Ger<span class=\"_ _3\"/>man LNG <span class=\"ff1\"> </span>As a result of <span class=\"_ _9\"/>V<span class=\"_ _3\"/>opak\u2019<span class=\"_ _9\"/>s divestment of its 33.3% shareholding in the German LNG <span class=\"_ _9\"/>T<span class=\"_ _8\"/>erminal GmbH, in the first half of 2022 an impairment rev<span class=\"_ _7\"/>ersal of EUR 3.8 million was recorded. <span class=\"_ _8\"/>This rev<span class=\"_ _7\"/>ersal partially of<span class=\"_ _7\"/>fsets the impairment of EUR 1<span class=\"_ _3\"/>0.8 million recognized in the third quarter of 2021<span class=\"_ _8\"/>. <span class=\"_ _9\"/>The proceeds receiv<span class=\"_ _3\"/>ed amounted to EUR 3.8 million. 2021 Exceptional gains/losses, w<span class=\"_ _7\"/>ere reported in Result of joint v<span class=\"_ _7\"/>entures and associates as f<span class=\"_ _7\"/>ollows: P<span class=\"_ _7\"/>artial r<span class=\"_ _3\"/>elease tax provision <span class=\"ff1\"> </span>In 2021, an ex<span class=\"_ _7\"/>ceptional gain of EUR 2.2 million was recogniz<span class=\"_ _7\"/>ed in the result of joint vent<span class=\"_ _7\"/>ures and associates relating to a partial release of a tax provision that was recogniz<span class=\"_ _7\"/>ed in a joint vent<span class=\"_ _7\"/>ure terminal within the A<span class=\"_ _7\"/>sia &amp; Middle East division at the end of 20<span class=\"_ _3\"/>1<span class=\"_ _3\"/>9. Business develop<span class=\"ws150\">ment <span class=\"_ _4\"/>costs VMH <span class=\"_\"> </span></span><span class=\"ff1\"> </span>In the fourth quarter of 2021, an e<span class=\"_ _7\"/>xceptional loss of EUR 4.8 million w<span class=\"_ _7\"/>as recognized in the Moda Houston terminal (VMH) for business de<span class=\"_ _7\"/>velopment costs. <span class=\"_ _8\"/>This impairment is the result of a strategic revie<span class=\"_ _7\"/>w af<span class=\"_ _3\"/>ter which it w<span class=\"_ _7\"/>as concluded that <span class=\"_ _3\"/>VMH will focus on ammonia and gas projects going for<span class=\"_ _5\"/>ward leading to a write-of<span class=\"_ _3\"/>f of certain business development projects. F<span class=\"_ _7\"/>or impairments recorded for our joint v<span class=\"_ _7\"/>entures and associates, ref<span class=\"_ _3\"/>erence is made to note 3.8 for further details. Note 3.5 J<span class=\"_ _7\"/>oint vent<span class=\"_ _7\"/>ur<span class=\"_ _7\"/>es and associates  V<span class=\"_ _3\"/>opak\u2019<span class=\"_ _9\"/>s interest in the principal joint vent<span class=\"_ _7\"/>ures and associates at year<span class=\"_ _9\"/>-end 2022 consisted of 27 (2021: 26) unlisted joint vent<span class=\"_ _7\"/>ures and 1<span class=\"_ _3\"/>0 (2021: 9) unlisted associates. <span class=\"_ _7\"/>Although the Group conducts a large part of its activities by means of these joint v<span class=\"_ _7\"/>entures and associates, none of these entities are currently individually material f<span class=\"_ _7\"/>or the Group. <span class=\"_ _9\"/>The nat<span class=\"_ _3\"/>ure of<span class=\"_ _7\"/>, and c<span class=\"_ _7\"/>hanges in, the risks associated with its interests in joint vent<span class=\"_ _7\"/>ures and associates is primarily linked to the region and/or the activities. F<span class=\"_ _7\"/>or the disclosure of the nature, e<span class=\"_ _7\"/>xtent and financial ef<span class=\"_ _7\"/>f<span class=\"_ _7\"/>ects of our joint vent<span class=\"_ _7\"/>ures and associates, we mak<span class=\"_ _7\"/>e a distinction in the activities of the divisions Europe &amp; Africa (limited number of oil and c<span class=\"_ _3\"/>hemical terminals), A<span class=\"_ _7\"/>sia &amp; Middle East, (all types of storage terminals, ex<span class=\"_ _7\"/>cept LNG), New Energy &amp; LNG (joint v<span class=\"_ _7\"/>entures and associates with long-term contracts) and China &amp; North A<span class=\"_ _7\"/>sia (mainly industrial terminals). <span class=\"_ _9\"/>T<span class=\"_ _7\"/>he Americas division currently has a number of joint v<span class=\"_ _7\"/>entures and associates mainly operating gas and industrial terminals. No significant judgments were made b<span class=\"_ _7\"/>y the Group with regard to the classification of joint vent<span class=\"_ _7\"/>ures and associates. All material joint ar<span class=\"_ _7\"/>rangements are currently classified as joint vent<span class=\"_ _7\"/>ures because joint control is established by contract and the Group only has rights to the net assets of these entities. <span class=\"_ _9\"/>T<span class=\"_ _7\"/>he Group currently has no material inv<span class=\"_ _7\"/>estment in a joint operation. The Group has se<span class=\"_ _7\"/>veral majority ownerships whic<span class=\"_ _3\"/>h qualify as joint vent<span class=\"_ _7\"/>ures: a 60% majority ownership in LNG <span class=\"_ _8\"/>T<span class=\"_ _9\"/>erminal Altamira in Mexico, a 51% majority ownership in <span class=\"_ _9\"/>V<span class=\"_ _3\"/>opak <span class=\"_ _9\"/>T<span class=\"_ _8\"/>erminals Korea Ltd., a 51% majority ownership in <span class=\"_ _9\"/>V<span class=\"_ _3\"/>opak (Qinzhou) Jet<span class=\"_ _3\"/>t<span class=\"_ _5\"/>y Co., Ltd. and in Guangxi Hualin Jet<span class=\"_ _3\"/>ty Co., Ltd. each, both in China. In Me<span class=\"_ _3\"/>xico, the Group has 50% of the voting rights. In Korea, the partner o<span class=\"_ _7\"/>wns an ex<span class=\"_ _7\"/>ercisable call option right at any time of 1% of the shares and therefore the substantive v<span class=\"_ _7\"/>oting rights of the Group are limited to 50%. In China, for both entities and in India all decisions about the relev<span class=\"_ _7\"/>ant activities of the entity are made based on unanimous consent of the shareholders in accordance with the shareholders agreement concerned. The Group has a 1<span class=\"_ _9\"/>0% equit<span class=\"_ _5\"/>y interest in <span class=\"_ _9\"/>V<span class=\"_ _3\"/>opak <span class=\"_ _9\"/>T<span class=\"_ _9\"/>erminal Eemsha<span class=\"_ _7\"/>ven in the Netherlands whic<span class=\"_ _3\"/>h is classified as an associate as the Group has significant influence. <span class=\"_ _9\"/>T<span class=\"_ _7\"/>he Group has been appointed as operator of this terminal. A<span class=\"_ _7\"/>s operator<span class=\"_ _3\"/>, <span class=\"_ _3\"/>V<span class=\"_ _3\"/>opak has the right to appoint the management board of the terminal. In addition, as 1<span class=\"_ _3\"/>0% shareholder in the entity<span class=\"_ _3\"/>, <span class=\"_ _3\"/>V<span class=\"_ _3\"/>opak is entitled to appoint one of the three members of the Super<span class=\"_ _5\"/>visor<span class=\"_ _5\"/>y Board and is able to participate in the decision making process of the entity<span class=\"_ _3\"/>.  Ref<span class=\"_ _3\"/>erence is made to note 9.1<span class=\"_ _9\"/>1 for an o<span class=\"_ _7\"/>verview of the principal joint vent<span class=\"_ _7\"/>ures and associates. A<span class=\"_ _1e\"> </span><span class=\"ff3 fs9\">Accounting policies </span>Joint v<span class=\"_ _7\"/>entures and associates are accounted f<span class=\"_ _7\"/>or using the equity method, whic<span class=\"_ _7\"/>h involv<span class=\"_ _7\"/>es recognition in the Consolidated statement of income of <span class=\"_ _3\"/>V<span class=\"_ _3\"/>opak\u2019<span class=\"_ _9\"/>s share of the net result of the joint vent<span class=\"_ _7\"/>ures and associates for the y<span class=\"_ _7\"/>ear<span class=\"_ _3\"/>. A<span class=\"_ _7\"/>ccounting policies of joint vent<span class=\"_ _7\"/>ures and associates hav<span class=\"_ _7\"/>e been aligned where necessar<span class=\"_ _5\"/>y to ensure consistency with the policies adopted by the Group. <span class=\"_ _9\"/>V<span class=\"_ _3\"/>opak\u2019<span class=\"_ _9\"/>s interest in a joint vent<span class=\"_ _7\"/>ure or associate is carried in the statement of financial position at its share in the net assets of the joint venture or associate together with goodwill paid on acquisition, less any impairment loss. <span class=\"_ _9\"/>When the share in the losses ex<span class=\"_ _7\"/>ceeds the carr<span class=\"_ _5\"/>ying amount of an equity-accounted company (including an<span class=\"_ _3\"/>y other receivables f<span class=\"_ _7\"/>orming part of the net inv<span class=\"_ _7\"/>estment in the company), the carrying amount is writ<span class=\"_ _3\"/>ten down to nil and recognition of further losses is discontinued, unless we ha<span class=\"_ _7\"/>ve incurred legal or constructiv<span class=\"_ _7\"/>e obligations relating to the company in question. Gr<span class=\"_ _7\"/>oup\u2019<span class=\"_ _9\"/>s share of the t<span class=\"_ _7\"/>otal compr<span class=\"_ _7\"/>ehensive income and the car<span class=\"_ _3\"/>rying amount of joint ventur<span class=\"_ _3\"/>es and associates Joint v<span class=\"_ _7\"/>entures <span class=\"_ _27b\"> </span>Associates <span class=\"_ _27c\"> </span>T<span class=\"_ _8\"/>otal In EUR millions <span class=\"_ _1a7\"> </span><span class=\"fs7 fc0\">2022 <span class=\"_ _1b2\"> </span><span class=\"fc7\">2021 <span class=\"_ _7f\"> </span></span>2022 <span class=\"_ _1b2\"> </span><span class=\"fc7\">2021 <span class=\"_ _1b2\"> </span></span>2022 <span class=\"_ _7f\"> </span><span class=\"fc7\">2021 </span></span>V<span class=\"_ _3\"/>opak's share in net assets <span class=\"_ _27d\"> </span>1,098.2 <span class=\"_ _1bb\"> </span>887<span class=\"_ _1\"/>.4 <span class=\"_ _18a\"> </span>406.9 <span class=\"_ _19c\"> </span>347<span class=\"_ _1\"/>.9 <span class=\"_ _4d\"> </span>1,505.1 <span class=\"_ _4d\"> </span>1,235.3 Goodwill on acquisition <span class=\"_ _27e\"> </span>67<span class=\"_ _1\"/>.3 <span class=\"_ _2f\"> </span>7<span class=\"_ _9\"/>4.2 <span class=\"_ _66\"> </span>1<span class=\"_ _3\"/>0.9 <span class=\"_ _db\"> </span>9.9 <span class=\"_ _45\"> </span>78.2 <span class=\"_ _45\"> </span>84.1 Car<span class=\"_ _7\"/>rying amount at 31 December <span class=\"_ _27f\"> </span><span class=\"fc0\">1,165.5 <span class=\"_ _131\"> </span></span>961<span class=\"_ _3\"/>.6 <span class=\"_ _18a\"> </span>417<span class=\"_ _8\"/>.8 <span class=\"_ _e6\"> </span><span class=\"fcb\">357<span class=\"_ _8\"/>.8 <span class=\"_ _19b\"> </span><span class=\"fc0\">1,583.3 <span class=\"_ _118\"> </span></span>1,319.4 </span>Share in profit or loss <span class=\"_ _280\"> </span><span class=\"ff3 fc13\">2.7 <span class=\"_ _49\"> </span></span>1<span class=\"_ _7\"/>39.2 <span class=\"_ _7e\"> </span>1<span class=\"_ _7\"/>56.6 <span class=\"_ _45\"> </span>55.5 <span class=\"_ _45\"> </span>59.2 <span class=\"_ _18a\"> </span>194.7 <span class=\"_ _18a\"> </span>21<span class=\"_ _7\"/>5.8 Impairments <span class=\"_ _281\"> </span>2.7<span class=\"_ _8\"/>, 3.8 <span class=\"_ _86\"> </span><span class=\"ff1 fc1\">\u2013 <span class=\"_ _e6\"> </span>- 43.5 <span class=\"_ _18a\"> </span>- 36.2 <span class=\"_ _130\"> </span>\u2013 <span class=\"_ _e6\"> </span>- 36.2 <span class=\"_ _18a\"> </span>- 43.5 </span>Re<span class=\"_ _7\"/>versal of impairments <span class=\"_ _1f4\"> </span>2.7<span class=\"_ _1\"/>, 3.8 <span class=\"_ _5a\"> </span><span class=\"ff1 fc1\">3.8 <span class=\"_ _130\"> </span>\u2013 <span class=\"_ _130\"> </span>\u2013 <span class=\"_ _130\"> </span>\u2013 <span class=\"_ _1bc\"> </span>3.8 <span class=\"_ _130\"> </span>\u2013 </span>Net profit 143.0 <span class=\"_ _4f\"> </span>1<span class=\"_ _9\"/>13.1 <span class=\"_ _b1\"> </span>19.3 <span class=\"_ _51\"> </span>59.2 <span class=\"_ _53\"> </span>162.3 <span class=\"_ _53\"> </span>172.3 Other comprehensive income <span class=\"_ _1d1\"> </span><span class=\"ff3 fc13\">5.2 <span class=\"_ _3f\"> </span></span>46.6 <span class=\"_ _100\"> </span>9.7 <span class=\"_ _45\"> </span>22.0 <span class=\"_ _189\"> </span>1<span class=\"_ _7\"/>0.5 <span class=\"_ _45\"> </span>68.6 <span class=\"_ _45\"> </span>20.2 Comprehensiv<span class=\"_ _7\"/>e income 189.6 <span class=\"_ _190\"> </span>122.8 <span class=\"_ _83\"> </span>41<span class=\"_ _3\"/>.3 <span class=\"_ _b1\"> </span>69.7 <span class=\"_ _53\"> </span>230.9 <span class=\"_ _53\"> </span>1<span class=\"_ _7\"/>92.5 Dividends received <span class=\"_ _270\"> </span><span class=\"ff3 fc13\">2.9 <span class=\"_ _190\"> </span></span>- 1<span class=\"_ _7\"/>62.5 <span class=\"_ _7f\"> </span>- 91<span class=\"_ _9\"/>.9 <span class=\"_ _7f\"> </span>- 61<span class=\"_ _9\"/>.3 <span class=\"_ _e6\"> </span>- 42.7 <span class=\"_ _31\"> </span>- 223.8 <span class=\"_ _8d\"> </span>- 1<span class=\"_ _7\"/>34.6 Inv<span class=\"_ _7\"/>estments <span class=\"_ _282\"> </span>34.7 <span class=\"_ _7e\"> </span>1<span class=\"_ _3\"/>04.3 <span class=\"_ _130\"> </span>\u2013 <span class=\"_ _db\"> </span>5.7 <span class=\"_ _45\"> </span>34.7 <span class=\"_ _1bb\"> </span>1<span class=\"_ _9\"/>1<span class=\"_ _7\"/>0.0 Acquisitions <span class=\"_ _283\"> </span>1<span class=\"_ _7\"/>86.1 <span class=\"_ _130\"> </span>\u2013 <span class=\"_ _45\"> </span>40.2 <span class=\"_ _130\"> </span>\u2013 <span class=\"_ _e6\"> </span>226.3 <span class=\"_ _130\"> </span>\u2013 Redemption share capital <span class=\"_ _284\"> </span>\u2013 <span class=\"_ _130\"> </span>\u2013 <span class=\"_ _45\"> </span>- 5.0 <span class=\"_ _130\"> </span>\u2013 <span class=\"_ _45\"> </span>- 5.0 <span class=\"_ _183\"> </span>\u2013 T<span class=\"_ _9\"/>ransfers due to c<span class=\"_ _3\"/>hange in ownership <span class=\"_ _285\"> </span>1<span class=\"_ _9\"/>.3 <span class=\"_ _183\"> </span>\u2013 <span class=\"_ _130\"> </span>\u2013 <span class=\"_ _108\"> </span>- 7<span class=\"_ _d\"/>.7 <span class=\"_ _8b\"> </span>1<span class=\"_ _9\"/>.3 <span class=\"_ _88\"> </span>- 7<span class=\"_ _1\"/>.7 Other <span class=\"_ _286\"> </span>0.1 <span class=\"_ _45\"> </span>- 0.4 <span class=\"_ _130\"> </span>\u2013 <span class=\"_ _db\"> </span>0.1 <span class=\"_ _db\"> </span>0.1 <span class=\"_ _45\"> </span>- 0.3 Exc<span class=\"_ _3\"/>hange diff<span class=\"_ _3\"/>erences <span class=\"_ _287\"> </span>21<span class=\"_ _9\"/>.7 <span class=\"_ _45\"> </span>69.1 <span class=\"_ _1bc\"> </span>8.3 <span class=\"_ _45\"> </span>34.9 <span class=\"_ _189\"> </span>30.0 <span class=\"_ _7e\"> </span>1<span class=\"_ _3\"/>04.0 Car<span class=\"_ _7\"/>rying amount at 31 December <span class=\"_ _27f\"> </span><span class=\"fc0\">1,436.5 <span class=\"_ _19b\"> </span></span>1,165.5 <span class=\"_ _131\"> </span>441<span class=\"_ _7\"/>.3 <span class=\"_ _18a\"> </span>417<span class=\"_ _1\"/>.8 <span class=\"_ _15a\"> </span><span class=\"fc0\">1,877<span class=\"_ _1\"/>.8 <span class=\"_ _118\"> </span><span class=\"fcb\">1,583.3 </span></span>V<span class=\"_ _3\"/>opak's share in net assets <span class=\"_ _27d\"> </span>1,273.1 <span class=\"_ _4d\"> </span>1,098.2 <span class=\"_ _e6\"> </span>424.3 <span class=\"_ _18a\"> </span>406.9 <span class=\"_ _f9\"> </span>1,697<span class=\"_ _d\"/>.4 <span class=\"_ _4d\"> </span>1,505.1 Goodwill on acquisition <span class=\"_ _288\"> </span>1<span class=\"_ _7\"/>63.4 <span class=\"_ _88\"> </span>67<span class=\"_ _1\"/>.3 <span class=\"_ _3f\"> </span>1<span class=\"_ _7\"/>7<span class=\"_ _1\"/>.0 <span class=\"_ _66\"> </span>1<span class=\"_ _3\"/>0.9 <span class=\"_ _7e\"> </span>180.4 <span class=\"_ _45\"> </span>78.2 Car<span class=\"_ _7\"/>rying amount at 31 December <span class=\"_ _27f\"> </span><span class=\"fc0\">1,436.5 <span class=\"_ _19b\"> </span></span>1,165.5 <span class=\"_ _131\"> </span>441<span class=\"_ _7\"/>.3 <span class=\"_ _18a\"> </span>417<span class=\"_ _1\"/>.8 <span class=\"_ _15a\"> </span><span class=\"fc0\">1,877<span class=\"_ _1\"/>.8 <span class=\"_ _118\"> </span><span class=\"fcb\">1,583.3 </span></span>Other comprehensive income is primarily related to the ef<span class=\"_ _3\"/>f<span class=\"_ _7\"/>ective portion of c<span class=\"_ _3\"/>hanges in the fair v<span class=\"_ _7\"/>alue of cash flow hedges within the joint v<span class=\"_ _7\"/>entures, whic<span class=\"_ _3\"/>h are recognized through the statement of comprehensive income. F<span class=\"_ _7\"/>or more information on the impairments recogniz<span class=\"_ _7\"/>ed on the inv<span class=\"_ _7\"/>estments in joint vent<span class=\"_ _7\"/>ures and associates, ref<span class=\"_ _7\"/>erence is made to note 3.8. Inv<span class=\"_ _7\"/>estments and divestments of joint v<span class=\"_ _7\"/>entur<span class=\"_ _3\"/>es and associates 2022 Aegis <span class=\"_ _8\"/>V<span class=\"_ _9\"/>opak <span class=\"_ _8\"/>T<span class=\"_ _8\"/>er<span class=\"_ _7\"/>minals Ltd. and Hindustan <span class=\"_ _9\"/>Aegis LPG Ltd.<span class=\"_ _7\"/> - acquisition <span class=\"ff1\"> </span>On 25 May 2022, <span class=\"_ _9\"/>V<span class=\"_ _3\"/>opak acquired a 49% shareholding in the A<span class=\"_ _3\"/>egis <span class=\"_ _3\"/>V<span class=\"_ _3\"/>opak <span class=\"_ _9\"/>T<span class=\"_ _9\"/>erminals Ltd. entity and a 24% shareholding in the Hindustan A<span class=\"_ _7\"/>egis LPG Ltd. entity<span class=\"_ _3\"/>. <span class=\"_ _9\"/>The successful completion  of the Indian joint vent<span class=\"_ _7\"/>ure with A<span class=\"_ _3\"/>egis, positions <span class=\"_ _3\"/>V<span class=\"_ _3\"/>opak as the largest storage provider f<span class=\"_ _7\"/>or  LPG and c<span class=\"_ _3\"/>hemicals in India. <span class=\"_ _9\"/>The acquisition date f<span class=\"_ _7\"/>air value of the consideration transf<span class=\"_ _3\"/>erred amounts to EUR 226.3 million, of whic<span class=\"_ _3\"/>h EUR 1<span class=\"_ _3\"/>7<span class=\"_ _9\"/>4.2 million was paid in cash and <span class=\"ls6\"> </span>EUR 52.1 million is contingent upon the occurrence of certain future e<span class=\"_ _7\"/>vents. The conditional pa<span class=\"_ _7\"/>yments depend on meeting (mec<span class=\"_ _3\"/>hanical) completion for certain projects (EUR 32.6 million) and ex<span class=\"_ _7\"/>ceeding certain revenue targets in the period up till 30 September 2025 (EUR 1<span class=\"_ _3\"/>9.5 million). <span class=\"_ _9\"/>The cash outflo<span class=\"_ _7\"/>ws for these pa<span class=\"_ _7\"/>yments are currently expected  in the period 2023-2025 and hav<span class=\"_ _7\"/>e been measured based on their discounted value (8%).  The Group is still w<span class=\"_ _7\"/>orking on the notional purc<span class=\"_ _3\"/>hase price allocation for this joint vent<span class=\"_ _7\"/>ure  and associate, and expects to finaliz<span class=\"_ _7\"/>e this within twelve months af<span class=\"_ _3\"/>ter acquisition date.  In connection with these acquisitions, transaction-related expenses w<span class=\"_ _7\"/>ere incurred for EUR 1<span class=\"_ _8\"/>.2 million. Diize - fr<span class=\"_ _7\"/>om subsidiary to joint v<span class=\"_ _7\"/>entur<span class=\"_ _7\"/>e <span class=\"ff1\"> </span>In December 2022, follo<span class=\"_ _7\"/>wing the partial divestment of 50% of the shareholding in Diiz<span class=\"_ _7\"/>e B.V<span class=\"_ _1\"/>. V<span class=\"_ _3\"/>opak derecognized the assets and liabilities of Diiz<span class=\"_ _7\"/>e B.V<span class=\"_ _1\"/>. and recognized the retained 50% shareholding at EUR 0.1 million. Af<span class=\"_ _3\"/>ter the partial divestment, <span class=\"_ _9\"/>V<span class=\"_ _3\"/>opak holds a 50% equity st<span class=\"_ _5\"/>ake whic<span class=\"_ _3\"/>h classifies as a joint venture. Ger<span class=\"_ _7\"/>man <span class=\"_\"> </span>LNG T<span class=\"_ _8\"/>ermina<span class=\"ws3\">l - div<span class=\"_ _7\"/>estment <span class=\"ff1\"> </span></span>As a result of <span class=\"_ _9\"/>V<span class=\"_ _3\"/>opak\u2019<span class=\"_ _9\"/>s divestment of its 33.3% shareholding in the German LNG <span class=\"_ _9\"/>T<span class=\"_ _8\"/>erminal GmbH, an impairment rev<span class=\"_ _7\"/>ersal of EUR 3.8 million was recorded as an e<span class=\"_ _7\"/>xceptional gain. This re<span class=\"_ _7\"/>versal partially of<span class=\"_ _3\"/>fsets the impairment of EUR 1<span class=\"_ _3\"/>0.8 million recognized in the third quarter of 2021<span class=\"_ _8\"/>. Contingent proceeds dependent on the final inv<span class=\"_ _7\"/>estment decision (FID) of   the project amounted to EUR 8.9 million. A<span class=\"_ _7\"/>s at the reporting date respective conditions were not y<span class=\"_ _7\"/>et met.  Thai T<span class=\"_ _8\"/>ank T<span class=\"_ _8\"/>er<span class=\"_ _7\"/>minal <span class=\"_\"> </span>- <span class=\"_ _a\"> </span>part<span class=\"ws3\">ial divestment <span class=\"ff1\"> </span></span>In December 2022, an ex<span class=\"_ _7\"/>ceptional gain of EUR 5.2 million was recorded related to the dilution of 1<span class=\"_ _3\"/>4% equit<span class=\"_ _5\"/>y stake in <span class=\"_ _9\"/>T<span class=\"_ _7\"/>hai <span class=\"_ _9\"/>T<span class=\"_ _9\"/>ank <span class=\"_ _9\"/>T<span class=\"_ _8\"/>erminal Ltd. located in <span class=\"_ _9\"/>Thailand. <span class=\"_ _7\"/>Af<span class=\"_ _7\"/>ter the dilution V<span class=\"_ _3\"/>opak holds an equity st<span class=\"_ _5\"/>ake of 35% whic<span class=\"_ _3\"/>h continues to be classified as a joint vent<span class=\"_ _7\"/>ure.  2021 Jubail Chemicals Stor<span class=\"_ _7\"/>age and Services Compan<span class=\"_ _3\"/>y - partial divestment <span class=\"ff1\"> </span>In the fourth quarter of 2021 an e<span class=\"_ _7\"/>xceptional loss of EUR 0.7 million w<span class=\"_ _7\"/>as recorded related  to a partial divestment of a 3% equity stake in the terminal Jubail Chemicals Storage and Ser<span class=\"_ _5\"/>vices Company (JCSSC) located in Saudi <span class=\"_ _7\"/>Arabia. Af<span class=\"_ _3\"/>ter the divestment <span class=\"_ _9\"/>V<span class=\"_ _3\"/>opak holds a 22% equity st<span class=\"_ _5\"/>ake in the associate.   Summar<span class=\"_ _7\"/>ized inf<span class=\"_ _7\"/>or<span class=\"_ _3\"/>mation of joint ventur<span class=\"_ _7\"/>es and associates on a 1<span class=\"_ _9\"/>0<span class=\"_ _5\"/>0% basis The f<span class=\"_ _7\"/>ollowing inf<span class=\"_ _7\"/>ormation reflects the amounts presented in the financial statements of the joint vent<span class=\"_ _7\"/>ures and associates adjusted for dif<span class=\"_ _3\"/>f<span class=\"_ _7\"/>erences in accounting policies bet<span class=\"_ _5\"/>w<span class=\"_ _7\"/>een the Group and the joint vent<span class=\"_ _7\"/>ures and associates and, when applicable, the ef<span class=\"_ _3\"/>fects of the purc<span class=\"_ _3\"/>hase price allocation performed by the Group with regard to the acquisition of the joint vent<span class=\"_ _7\"/>ure or associate. Summar<span class=\"_ _3\"/>ized statement of t<span class=\"_ _3\"/>otal comprehensiv<span class=\"_ _7\"/>e income T<span class=\"_ _8\"/>otal joint Asia &amp;   China &amp; New Energ<span class=\"_ _7\"/>y vent<span class=\"_ _7\"/>ures and of whic<span class=\"_ _7\"/>h  joint of whic<span class=\"_ _7\"/>h  Amer<span class=\"_ _7\"/>icas Middle East North Asia <span class=\"_ _26\"> </span>Europe <span class=\"_ _5\"/>&amp; Africa &amp; LNG <span class=\"_ _1bb\"> </span>Other associates vent<span class=\"_ _7\"/>ures associates In EUR millions <span class=\"_ _19e\"> </span>2022 <span class=\"_ _289\"> </span><span class=\"fc7\">2021 <span class=\"_ _289\"> </span></span>2022 <span class=\"_ _289\"> </span><span class=\"fc7\">2021 <span class=\"_ _8f\"> </span></span>2022 <span class=\"_ _289\"> </span><span class=\"fc7\">2021 <span class=\"_ _289\"> </span></span>2022 <span class=\"_ _289\"> </span><span class=\"fc7\">2021 <span class=\"_ _8f\"> </span></span>2022 <span class=\"_ _289\"> </span><span class=\"fc7\">2021 <span class=\"_ _289\"> </span></span>2022 <span class=\"_ _289\"> </span><span class=\"fc7\">2021 <span class=\"_ _8f\"> </span></span>2022 <span class=\"_ _289\"> </span><span class=\"fc7\">2021 <span class=\"_ _289\"> </span></span>2022 <span class=\"_ _8f\"> </span><span class=\"fc7\">2021 <span class=\"_ _289\"> </span></span>2022 <span class=\"_ _289\"> </span>2021Re<span class=\"_ _7\"/>venues <span class=\"_ _e5\"> </span>1<span class=\"_ _7\"/>97<span class=\"_ _1\"/>.3 <span class=\"_ _8e\"> </span>1<span class=\"_ _7\"/>55.6 <span class=\"_ _15b\"> </span>7<span class=\"_ _9\"/>41<span class=\"_ _9\"/>.5 <span class=\"_ _147\"> </span>606.4 <span class=\"_ _8f\"> </span>221<span class=\"_ _8\"/>.3 <span class=\"_ _8e\"> </span>213.8 <span class=\"_ _9d\"> </span>49.6 <span class=\"_ _9d\"> </span>52.0 <span class=\"_ _8e\"> </span>31<span class=\"_ _7\"/>6.1 <span class=\"_ _147\"> </span>303.2 <span class=\"_ _aa\"> </span>1<span class=\"_ _9\"/>.0 <span class=\"_ _d2\"> </span>\u2013 <span class=\"_ _1d\"> </span>1,526.8 <span class=\"_ _13\"> </span>1,331<span class=\"_ _9\"/>.0 <span class=\"_ _147\"> </span><span class=\"ff41\">895.8 <span class=\"_ _8e\"> </span>81<span class=\"_ _7\"/>0.1 <span class=\"_ _8f\"> </span>631<span class=\"_ _8\"/>.0 <span class=\"_ _90\"> </span>520.9 </span>Other income <span class=\"_ _a9\"> </span>40.0 <span class=\"_ _19\"> </span>39.1 <span class=\"_ _22c\"> </span>5.6 <span class=\"_ _233\"> </span>1<span class=\"_ _3\"/>0.7 <span class=\"_ _1b\"> </span>1<span class=\"_ _7\"/>8.7 <span class=\"_ _1b\"> </span>1<span class=\"_ _7\"/>2.0 <span class=\"_ _156\"> </span>1<span class=\"_ _9\"/>.1 <span class=\"_ _9d\"> </span>- 0.2 <span class=\"_ _17\"> </span><span class=\"ls9e wsec\">111.<span class=\"_ _4\"/>5<span class=\"_ _4\"> </span> <span class=\"_ _8e\"> </span></span>1<span class=\"_ _7\"/>55.3 <span class=\"_ _d2\"> </span>\u2013 <span class=\"_ _d2\"> </span>\u2013 <span class=\"_ _8f\"> </span>1<span class=\"_ _3\"/>7<span class=\"_ _7\"/>6.9 <span class=\"_ _8e\"> </span>21<span class=\"_ _7\"/>6.9 <span class=\"_ _9d\"> </span><span class=\"ff41\">56.4 <span class=\"_ _289\"> </span>1<span class=\"_ _3\"/>09.9 <span class=\"_ _8e\"> </span>1<span class=\"_ _7\"/>20.5 <span class=\"_ _15b\"> </span>1<span class=\"_ _3\"/>07<span class=\"_ _8\"/>.0 </span>Operating expenses <span class=\"_ _165\"> </span>- 1<span class=\"_ _7\"/>47<span class=\"_ _1\"/>.9 <span class=\"_ _10a\"> </span>- 1<span class=\"_ _7\"/>23.3 <span class=\"_ _37\"> </span>- 21<span class=\"_ _3\"/>7<span class=\"_ _8\"/>.5 <span class=\"_ _10a\"> </span>- 1<span class=\"_ _3\"/>33.8 <span class=\"_ _90\"> </span>- 73.4 <span class=\"_ _147\"> </span>- 58.3 <span class=\"_ _8e\"> </span>- 1<span class=\"_ _7\"/>9.3 <span class=\"_ _90\"> </span>- 18.5 <span class=\"_ _10a\"> </span>- 1<span class=\"_ _3\"/>09.9 <span class=\"_ _147\"> </span>- 99.9 <span class=\"_ _19\"> </span>- 2.9 <span class=\"_ _9d\"> </span>- 0.9 <span class=\"_ _1dc\"> </span>- 570.9 <span class=\"_ _1dc\"> </span>- 434.7 <span class=\"_ _10a\"> </span><span class=\"ff41\">- 31<span class=\"_ _3\"/>2.5 <span class=\"_ _27a\"> </span>- 27<span class=\"_ _3\"/>6.8 <span class=\"_ _1dc\"> </span>- 258.4 <span class=\"_ _37\"> </span>- 1<span class=\"_ _3\"/>57<span class=\"_ _1\"/>.9 </span>EBITD<span class=\"_ _7\"/>A 89.4 <span class=\"_ _21c\"> </span>71.4 <span class=\"_ _b\"> </span>529.6 <span class=\"_ _b\"> </span>483.3 <span class=\"_ _b\"> </span>166.6 <span class=\"_ _147\"> </span>167<span class=\"_ _8\"/>.5 <span class=\"_ _1a\"> </span>31<span class=\"_ _3\"/>.4 <span class=\"_ _21c\"> </span>33.3 <span class=\"_ _90\"> </span>317<span class=\"_ _1\"/>.7 <span class=\"_ _b\"> </span>358.6 <span class=\"_ _17\"> </span>- 1.9 <span class=\"_ _143\"> </span>- 0.9 <span class=\"_ _192\"> </span>1,132.8 <span class=\"_ _28\"> </span>1,1<span class=\"_ _9\"/>13.2 <span class=\"_ _232\"> </span><span class=\"ff19\">639.7 <span class=\"_ _b\"> </span>643.2 <span class=\"_ _232\"> </span>493.1 <span class=\"_ _b\"> </span>470.0 </span>Depreciation and amortization <span class=\"_ _19c\"> </span>- 28.8 <span class=\"_ _147\"> </span>- 20.4 <span class=\"_ _10a\"> </span>- 1<span class=\"_ _7\"/>95.3 <span class=\"_ _10a\"> </span>- 1<span class=\"_ _3\"/>58.7 <span class=\"_ _8f\"> </span>- 41<span class=\"_ _9\"/>.2 <span class=\"_ _147\"> </span>- 49.4 <span class=\"_ _8e\"> </span>- 1<span class=\"_ _7\"/>3.2 <span class=\"_ _8e\"> </span>- 1<span class=\"_ _7\"/>3.2 <span class=\"_ _147\"> </span>- 80.5 <span class=\"_ _8f\"> </span>- 91<span class=\"_ _9\"/>.4 <span class=\"_ _d2\"> </span>\u2013 <span class=\"_ _d2\"> </span>\u2013 <span class=\"_ _10b\"> </span>- 359.0 <span class=\"_ _1dc\"> </span>- 333.1 <span class=\"_ _10a\"> </span><span class=\"ff41\">- 1<span class=\"_ _7\"/>89.1 <span class=\"_ _37\"> </span>- 1<span class=\"_ _7\"/>87<span class=\"_ _1\"/>.1 <span class=\"_ _10a\"> </span>- 1<span class=\"_ _7\"/>69.9 <span class=\"_ _10a\"> </span>- 1<span class=\"_ _3\"/>46.0 </span>Impairment <span class=\"_ _1a6\"> </span>\u2013 <span class=\"_ _9d\"> </span>- 9.7 <span class=\"_ _d2\"> </span>\u2013 <span class=\"_ _9d\"> </span>- 2.1 <span class=\"_ _d2\"> </span>\u2013 <span class=\"_ _19\"> </span>- 0.5 <span class=\"_ _d2\"> </span>\u2013 <span class=\"_ _d2\"> </span>\u2013 <span class=\"_ _147\"> </span>- 80.9 <span class=\"_ _147\"> </span>- 29.0 <span class=\"_ _d2\"> </span>\u2013 <span class=\"_ _d2\"> </span>\u2013 <span class=\"_ _90\"> </span>- 80.9 <span class=\"_ _8f\"> </span>- 41<span class=\"_ _9\"/>.3 <span class=\"_ _16\"> </span><span class=\"ff41\">1<span class=\"_ _9\"/>1<span class=\"_ _9\"/>.6 <span class=\"_ _8f\"> </span>- 41<span class=\"_ _9\"/>.2 <span class=\"_ _147\"> </span>- 92.5 <span class=\"_ _9d\"> </span>- 0.1 </span>Operating pr<span class=\"_ _7\"/>ofit (EBIT) 60.6 <span class=\"_ _21c\"> </span>41.3 <span class=\"_ _b\"> </span>334.3 <span class=\"_ _b\"> </span>322.5 <span class=\"_ _b\"> </span>125.4 <span class=\"_ _8f\"> </span>1<span class=\"_ _9\"/>17<span class=\"_ _1\"/>.6 <span class=\"_ _21c\"> </span>18.2 <span class=\"_ _17\"> </span>20.1 <span class=\"_ _b\"> </span>156.3 <span class=\"_ _b\"> </span>238.2 <span class=\"_ _17\"> </span>- 1.9 <span class=\"_ _143\"> </span>- 0.9 <span class=\"_ _b\"> </span>692.9 <span class=\"_ _232\"> </span>738.8 <span class=\"_ _b\"> </span><span class=\"ff19\">462.2 <span class=\"_ _232\"> </span>414.9 <span class=\"_ _b\"> </span>230.7 <span class=\"_ _b\"> </span>323.9 </span>Net finance costs <span class=\"_ _258\"> </span>- 1<span class=\"_ _3\"/>7<span class=\"_ _1\"/>.1 <span class=\"_ _8e\"> </span>- 1<span class=\"_ _7\"/>2.9 <span class=\"_ _147\"> </span>- 78.7 <span class=\"_ _142\"> </span>- 47<span class=\"_ _1\"/>.6 <span class=\"_ _8e\"> </span>- 1<span class=\"_ _7\"/>0.2 <span class=\"_ _9d\"> </span>- 9.1 <span class=\"_ _19\"> </span>- 4.9 <span class=\"_ _9d\"> </span>- 5.6 <span class=\"_ _90\"> </span>- 70.2 <span class=\"_ _147\"> </span>- 65.5 <span class=\"_ _d2\"> </span>\u2013 <span class=\"_ _d2\"> </span>\u2013 <span class=\"_ _fe\"> </span>- 181<span class=\"_ _9\"/>.1 <span class=\"_ _1dc\"> </span>- 140.7 <span class=\"_ _147\"> </span><span class=\"ff41\">- 78.4 <span class=\"_ _147\"> </span>- 52.3 <span class=\"_ _10a\"> </span>- 1<span class=\"_ _3\"/>02.7 <span class=\"_ _147\"> </span>- 88.4 </span>Income tax <span class=\"_ _28a\"> </span>- 0.1 <span class=\"_ _9d\"> </span>- 0.2 <span class=\"_ _289\"> </span>- 1<span class=\"_ _3\"/>0.1 <span class=\"_ _147\"> </span>- 20.8 <span class=\"_ _90\"> </span>- 25.3 <span class=\"_ _90\"> </span>- 16.6 <span class=\"_ _9d\"> </span>- 2.4 <span class=\"_ _9d\"> </span>- 2.7 <span class=\"_ _147\"> </span>- 34.9 <span class=\"_ _90\"> </span>- 62.1 <span class=\"_ _d2\"> </span>\u2013 <span class=\"_ _d2\"> </span>\u2013 <span class=\"_ _147\"> </span>- 72.8 <span class=\"_ _27a\"> </span>- 1<span class=\"_ _9\"/>02.4 <span class=\"_ _90\"> </span><span class=\"ff41\">- 72.0 <span class=\"_ _147\"> </span>- 78.5 <span class=\"_ _19\"> </span>- 0.8 <span class=\"_ _147\"> </span>- 23.9 </span>Net profit 43.4 <span class=\"_ _17\"> </span>28.2 <span class=\"_ _b\"> </span>245.5 <span class=\"_ _232\"> </span>254.1 <span class=\"_ _17\"> </span>89.9 <span class=\"_ _1a\"> </span>91<span class=\"_ _3\"/>.9 <span class=\"_ _1a\"> </span>1<span class=\"_ _7\"/>0.9 <span class=\"_ _19\"> </span>1<span class=\"_ _9\"/>1<span class=\"_ _7\"/>.8 <span class=\"_ _1a\"> </span>51<span class=\"_ _3\"/>.2 <span class=\"_ _147\"> </span>1<span class=\"_ _3\"/>1<span class=\"_ _3\"/>0.6 <span class=\"_ _21c\"> </span>- 1<span class=\"_ _3\"/>.9 <span class=\"_ _120\"> </span>- 0.9 <span class=\"_ _232\"> </span>439.0 <span class=\"_ _b\"> </span>495.7 <span class=\"_ _147\"> </span><span class=\"ff19\">31<span class=\"_ _9\"/>1.8 <span class=\"_ _b\"> </span>284.1 <span class=\"_ _147\"> </span>127<span class=\"_ _1\"/>.2 <span class=\"_ _147\"> </span>21<span class=\"_ _9\"/>1.6 </span>Other comprehensive income <span class=\"_ _88\"> </span>42.8 <span class=\"_ _b2\"> </span>- 7<span class=\"_ _1\"/>.4 <span class=\"_ _b2\"> </span>87<span class=\"_ _8\"/>.1 <span class=\"_ _9d\"> </span>44.2 <span class=\"_ _d2\"> </span>\u2013 <span class=\"_ _d2\"> </span>\u2013 <span class=\"_ _d2\"> </span>\u2013 <span class=\"_ _d2\"> </span>\u2013 <span class=\"_ _19\"> </span>46.5 <span class=\"_ _9d\"> </span>22.9 <span class=\"_ _d2\"> </span>\u2013 <span class=\"_ _d2\"> </span>\u2013 <span class=\"_ _8f\"> </span>1<span class=\"_ _7\"/>7<span class=\"_ _3\"/>6.4 <span class=\"_ _19\"> </span>59.7 <span class=\"_ _9d\"> </span><span class=\"ff41\">93.5 <span class=\"_ _1b\"> </span>1<span class=\"_ _7\"/>9.9 <span class=\"_ _9d\"> </span>82.9 <span class=\"_ _19\"> </span>39.8 </span>T<span class=\"_ _8\"/>otal comprehensiv<span class=\"_ _7\"/>e income <span class=\"_ _83\"> </span><span class=\"fc0\">86.2 <span class=\"_ _17\"> </span></span>20.8 <span class=\"_ _b\"> </span><span class=\"fc0\">332.6 <span class=\"_ _b\"> </span></span>298.3 <span class=\"_ _21c\"> </span><span class=\"fc0\">89.9 <span class=\"_ _21c\"> </span></span>91<span class=\"_ _7\"/>.9 <span class=\"_ _1a\"> </span>1<span class=\"_ _3\"/>0.9 <span class=\"_ _19\"> </span>1<span class=\"_ _3\"/>1<span class=\"_ _7\"/>.8 <span class=\"_ _19\"> </span>97<span class=\"_ _8\"/>.7 <span class=\"_ _b\"> </span><span class=\"fcb\">133.5 <span class=\"_ _17\"> </span></span>- 1.9 <span class=\"_ _143\"> </span><span class=\"fcb\">- 0.9 <span class=\"_ _b\"> </span></span>615.4 <span class=\"_ _232\"> </span><span class=\"fcb\">555.4 <span class=\"_ _b\"> </span></span><span class=\"ff19\">405.3 <span class=\"_ _232\"> </span><span class=\"fcb\">304.0 <span class=\"_ _13c\"> </span></span>21<span class=\"_ _3\"/>0.1 <span class=\"_ _13c\"> </span><span class=\"fcb\">251<span class=\"_ _7\"/>.4 </span></span>V<span class=\"_ _3\"/>opak's share of net profit <span class=\"_ _1ad\"> </span>1<span class=\"_ _3\"/>4.5 <span class=\"_ _3a\"> </span>7<span class=\"_ _8\"/>.2 <span class=\"_ _9d\"> </span>79.0 <span class=\"_ _19\"> </span>86.1 <span class=\"_ _9d\"> </span>40.2 <span class=\"_ _19\"> </span>38.9 <span class=\"_ _22c\"> </span>3.0 <span class=\"_ _155\"> </span>4.0 <span class=\"_ _9d\"> </span>26.5 <span class=\"_ _19\"> </span>36.5 <span class=\"_ _9d\"> </span>- 0.9 <span class=\"_ _19\"> </span>- 0.4 <span class=\"_ _90\"> </span>162.3 <span class=\"_ _90\"> </span>1<span class=\"_ _7\"/>72.3 <span class=\"_ _8e\"> </span><span class=\"ff41\">1<span class=\"_ _7\"/>43.0 <span class=\"_ _8f\"> </span>1<span class=\"_ _9\"/>13.1 <span class=\"_ _19\"> </span>1<span class=\"_ _7\"/>9.3 <span class=\"_ _19\"> </span>59.2 </span>V<span class=\"_ _3\"/>opak's share of other comprehensive income <span class=\"_ _5c\"> </span>21<span class=\"_ _8\"/>.4 <span class=\"_ _19\"> </span>- 3.7 <span class=\"_ _9d\"> </span>24.0 <span class=\"_ _1b\"> </span>1<span class=\"_ _7\"/>2.5 <span class=\"_ _d2\"> </span>\u2013 <span class=\"_ _d2\"> </span>\u2013 <span class=\"_ _d2\"> </span>\u2013 <span class=\"_ _d2\"> </span>\u2013 <span class=\"_ _9d\"> </span>23.2 <span class=\"_ _11\"> </span>1<span class=\"_ _9\"/>1<span class=\"_ _9\"/>.4 <span class=\"_ _d2\"> </span>\u2013 <span class=\"_ _d2\"> </span>\u2013 <span class=\"_ _9d\"> </span>68.6 <span class=\"_ _19\"> </span>20.2 <span class=\"_ _9d\"> </span><span class=\"ff41\">46.6 <span class=\"_ _155\"> </span>9.7 <span class=\"_ _9d\"> </span>22.0 <span class=\"_ _1b\"> </span>1<span class=\"_ _7\"/>0.5 </span>V<span class=\"_ _9\"/>opak's share of total comprehensiv<span class=\"_ _7\"/>e income <span class=\"_ _173\"> </span><span class=\"fc0\">35.9 <span class=\"_ _60\"> </span></span>3.5 <span class=\"_ _232\"> </span><span class=\"fc0\">103.0 <span class=\"_ _120\"> </span></span>98.6 <span class=\"_ _17\"> </span><span class=\"fc0\">40.2 <span class=\"_ _21c\"> </span></span>38.9 <span class=\"_ _60\"> </span><span class=\"fc0\">3.0 <span class=\"_ _60\"> </span></span>4.0 <span class=\"_ _17\"> </span><span class=\"fc0\">49.7 <span class=\"_ _19\"> </span></span>47<span class=\"_ _8\"/>.9 <span class=\"_ _120\"> </span><span class=\"fc0\">- 0.9 <span class=\"_ _120\"> </span></span>- 0.4 <span class=\"_ _b\"> </span><span class=\"fc0\">230.9 <span class=\"_ _232\"> </span></span>192.5 <span class=\"_ _232\"> </span><span class=\"ff19 fc0\">189.6 <span class=\"_ _b\"> </span><span class=\"fcb\">122.8 <span class=\"_ _21c\"> </span></span>41.3 <span class=\"_ _120\"> </span><span class=\"fcb\">69.7 </span></span>2022 In Marc<span class=\"_ _3\"/>h 2020, a fire incident took place in the adjacent RAPID facility<span class=\"_ _3\"/>, leading to a subsequent closure of the facility<span class=\"_ _3\"/>. One of PT2SB\u2019<span class=\"_ _9\"/>s anc<span class=\"_ _7\"/>hor customers has since been out of operation. F<span class=\"_ _7\"/>ollowing another incident in 2022, the refinery is only expected to resume first half of 2023. <span class=\"_ _9\"/>T<span class=\"_ _7\"/>he refiner<span class=\"_ _5\"/>y closure weak<span class=\"_ _7\"/>ened its liquidit<span class=\"_ _5\"/>y position whic<span class=\"_ _3\"/>h may impact PT2SB\u2019<span class=\"_ _9\"/>s financial performance in 2023. <span class=\"_ _7\"/>As at 31 December 2022, PT2SB<span class=\"_ _7\"/>, classified as an associate, has reported net accounts receivable balances f<span class=\"_ _7\"/>or contractually deliv<span class=\"_ _7\"/>ered ser<span class=\"_ _5\"/>vices of around EUR 1<span class=\"_ _3\"/>73 million (31 December 2021: EUR 88 million) (on a 1<span class=\"_ _3\"/>00% basis). Mitigating the situation is a priority for PT2SB and its shareholders. 2021 In the third quarter of 2021, an ex<span class=\"_ _7\"/>ceptional gain of EUR 2.2 million was recogniz<span class=\"_ _7\"/>ed in the result of joint vent<span class=\"_ _7\"/>ures and associates relating to a partial release of a tax provision that was recognized in a joint v<span class=\"_ _7\"/>enture terminal within the <span class=\"_ _3\"/>Asia &amp; Middle East division at the end of 20<span class=\"_ _3\"/>1<span class=\"_ _3\"/>9. F<span class=\"_ _7\"/>or more information on the impairments recogniz<span class=\"_ _7\"/>ed on the inv<span class=\"_ _7\"/>estments in joint vent<span class=\"_ _7\"/>ures and associates, ref<span class=\"_ _7\"/>erence is made to note 3.8. Summar<span class=\"_ _3\"/>ized statement of financial position at 31 December T<span class=\"_ _8\"/>otal joint Asia &amp;   China &amp; New Energ<span class=\"_ _7\"/>y vent<span class=\"_ _7\"/>ures and of whic<span class=\"_ _7\"/>h  joint of whic<span class=\"_ _7\"/>h  Amer<span class=\"_ _7\"/>icas Middle East North Asia <span class=\"_ _26\"> </span>Europe <span class=\"_ _5\"/>&amp; Africa &amp; LNG <span class=\"_ _1bb\"> </span>Other associates vent<span class=\"_ _7\"/>ures associates In EUR millions <span class=\"_ _19e\"> </span>2022 <span class=\"_ _289\"> </span><span class=\"fc7\">2021 <span class=\"_ _289\"> </span></span>2022 <span class=\"_ _289\"> </span><span class=\"fc7\">2021 <span class=\"_ _8f\"> </span></span>2022 <span class=\"_ _289\"> </span><span class=\"fc7\">2021 <span class=\"_ _289\"> </span></span>2022 <span class=\"_ _289\"> </span><span class=\"fc7\">2021 <span class=\"_ _8f\"> </span></span>2022 <span class=\"_ _289\"> </span><span class=\"fc7\">2021 <span class=\"_ _289\"> </span></span>2022 <span class=\"_ _289\"> </span><span class=\"fc7\">2021 <span class=\"_ _8f\"> </span></span>2022 <span class=\"_ _289\"> </span><span class=\"fc7\">2021 <span class=\"_ _289\"> </span></span>2022 <span class=\"_ _8f\"> </span><span class=\"fc7\">2021 <span class=\"_ _289\"> </span></span>2022 <span class=\"_ _289\"> </span>2021 Non-current assets <span class=\"_ _165\"> </span>1,205.0 <span class=\"_ _e7\"> </span>1,1<span class=\"_ _7\"/>30.6 <span class=\"_ _e7\"> </span>3,555.8 <span class=\"_ _13\"> </span>2,771<span class=\"_ _9\"/>.0 <span class=\"_ _1dc\"> </span>1,1<span class=\"_ _3\"/>0<span class=\"_ _3\"/>1<span class=\"_ _9\"/>.9 <span class=\"_ _1d\"> </span>1,000.8 <span class=\"_ _90\"> </span>205.4 <span class=\"_ _147\"> </span>209.9 <span class=\"_ _e7\"> </span>1,858.2 <span class=\"_ _e7\"> </span>1,984.8 <span class=\"_ _22c\"> </span>0.5 <span class=\"_ _155\"> </span>0.2 <span class=\"_ _12\"> </span>7<span class=\"_ _8\"/>,926.8 <span class=\"_ _27a\"> </span>7<span class=\"_ _1\"/>,097<span class=\"_ _1\"/>.3 <span class=\"_ _e7\"> </span><span class=\"ff41\">4,683.2 <span class=\"_ _10b\"> </span>3,977<span class=\"_ _1\"/>.2 <span class=\"_ _e7\"> </span>3,243.6 <span class=\"_ _18\"> </span>3,1<span class=\"_ _7\"/>20.1 </span>Cash and cash equivalents <span class=\"_ _161\"> </span>1<span class=\"_ _9\"/>7<span class=\"_ _8\"/>.2 <span class=\"_ _19\"> </span>18.6 <span class=\"_ _147\"> </span>388.0 <span class=\"_ _90\"> </span>319.2 <span class=\"_ _8f\"> </span>1<span class=\"_ _7\"/>91<span class=\"_ _9\"/>.9 <span class=\"_ _90\"> </span>146.2 <span class=\"_ _19\"> </span>1<span class=\"_ _7\"/>0.7 <span class=\"_ _1b\"> </span>1<span class=\"_ _7\"/>0.6 <span class=\"_ _90\"> </span>163.4 <span class=\"_ _90\"> </span>1<span class=\"_ _7\"/>39.4 <span class=\"_ _22c\"> </span>0.5 <span class=\"_ _aa\"> </span>1<span class=\"_ _9\"/>.0 <span class=\"_ _8f\"> </span>771<span class=\"_ _8\"/>.7 <span class=\"_ _90\"> </span>635.0 <span class=\"_ _147\"> </span><span class=\"ff41\">366.7 <span class=\"_ _147\"> </span>308.4 <span class=\"_ _90\"> </span>405.0 <span class=\"_ _147\"> </span>326.6 </span>Other current assets <span class=\"_ _135\"> </span>57<span class=\"_ _d\"/>.9 <span class=\"_ _19\"> </span>50.2 <span class=\"_ _90\"> </span>194.9 <span class=\"_ _147\"> </span>222.8 <span class=\"_ _9d\"> </span>48.9 <span class=\"_ _14\"> </span>51<span class=\"_ _9\"/>.1 <span class=\"_ _1b\"> </span>1<span class=\"_ _3\"/>0.0 <span class=\"_ _11\"> </span>1<span class=\"_ _7\"/>7<span class=\"_ _1\"/>.3 <span class=\"_ _9d\"> </span>85.2 <span class=\"_ _289\"> </span>1<span class=\"_ _3\"/>04.1 <span class=\"_ _155\"> </span>0.6 <span class=\"_ _22c\"> </span>0.9 <span class=\"_ _116\"> </span>397<span class=\"_ _1\"/>.5 <span class=\"_ _90\"> </span>446.4 <span class=\"_ _8e\"> </span><span class=\"ff41\">1<span class=\"_ _7\"/>94.1 <span class=\"_ _90\"> </span>169.1 <span class=\"_ _147\"> </span>203.4 <span class=\"_ _116\"> </span>277<span class=\"_ _1\"/>.3 </span>T<span class=\"_ _8\"/>otal assets 1280.1 <span class=\"_ _192\"> </span>1,199.4 <span class=\"_ _192\"> </span>4,138.7 <span class=\"_ _192\"> </span>3,313.0 <span class=\"_ _192\"> </span>1,342.7 <span class=\"_ _192\"> </span>1,198.1 <span class=\"_ _b\"> </span>226.1 <span class=\"_ _147\"> </span>237<span class=\"_ _8\"/>.8 <span class=\"_ _b3\"> </span>2,1<span class=\"_ _7\"/>06.8 <span class=\"_ _192\"> </span>2,228.3 <span class=\"_ _ad\"> </span>1.6 <span class=\"_ _27\"> </span>2.1 <span class=\"_ _192\"> </span>9,096.0 <span class=\"_ _b3\"> </span>8,1<span class=\"_ _7\"/>78.7 <span class=\"_ _192\"> </span><span class=\"ff19\">5,244.0 <span class=\"_ _192\"> </span>4,454.7 <span class=\"_ _192\"> </span>3,852.0 <span class=\"_ _192\"> </span>3,724.0 </span>Financial non-current liabilities <span class=\"_ _1b2\"> </span>386.7 <span class=\"_ _147\"> </span>363.1 <span class=\"_ _e7\"> </span>1,539.4 <span class=\"_ _15\"> </span>1,47<span class=\"_ _3\"/>6.0 <span class=\"_ _147\"> </span>322.2 <span class=\"_ _8e\"> </span>319.2 <span class=\"_ _147\"> </span>136.0 <span class=\"_ _90\"> </span>1<span class=\"_ _7\"/>49.6 <span class=\"_ _147\"> </span>922.3 <span class=\"_ _90\"> </span>989.3 <span class=\"_ _d2\"> </span>\u2013 <span class=\"_ _d2\"> </span>\u2013 <span class=\"_ _e7\"> </span>3,306.6 <span class=\"_ _12\"> </span>3,297<span class=\"_ _1\"/>.2 <span class=\"_ _e7\"> </span><span class=\"ff41\">1,583.1 <span class=\"_ _e7\"> </span>1,470.7 <span class=\"_ _e7\"> </span>1,723.5 <span class=\"_ _e7\"> </span>1,826.5 </span>Other non-current liabilities <span class=\"_ _161\"> </span>2.3 <span class=\"_ _155\"> </span>9.1 <span class=\"_ _8e\"> </span>1<span class=\"_ _3\"/>08.5 <span class=\"_ _8e\"> </span>154.2 <span class=\"_ _9d\"> </span>28.6 <span class=\"_ _9d\"> </span>25.5 <span class=\"_ _1b\"> </span>1<span class=\"_ _7\"/>2.7 <span class=\"_ _1b\"> </span>1<span class=\"_ _7\"/>3.8 <span class=\"_ _90\"> </span>183.0 <span class=\"_ _147\"> </span>250.8 <span class=\"_ _d2\"> </span>\u2013 <span class=\"_ _d2\"> </span>\u2013 <span class=\"_ _147\"> </span>335.1 <span class=\"_ _147\"> </span>453.4 <span class=\"_ _8e\"> </span><span class=\"ff41\">1<span class=\"_ _7\"/>36.7 <span class=\"_ _147\"> </span>205.4 <span class=\"_ _8e\"> </span>1<span class=\"_ _7\"/>98.4 <span class=\"_ _147\"> </span>248.0 </span>Financial current liabilities <span class=\"_ _f6\"> </span>1<span class=\"_ _7\"/>4.2 <span class=\"_ _19\"> </span>16.6 <span class=\"_ _147\"> </span>484.4 <span class=\"_ _90\"> </span>164.4 <span class=\"_ _233\"> </span>31<span class=\"_ _9\"/>.8 <span class=\"_ _19\"> </span>12.9 <span class=\"_ _19\"> </span>1<span class=\"_ _7\"/>5.6 <span class=\"_ _11\"> </span>1<span class=\"_ _3\"/>7<span class=\"_ _1\"/>.6 <span class=\"_ _8e\"> </span>138.6 <span class=\"_ _90\"> </span>1<span class=\"_ _7\"/>25.6 <span class=\"_ _d2\"> </span>\u2013 <span class=\"_ _d2\"> </span>\u2013 <span class=\"_ _147\"> </span>684.6 <span class=\"_ _116\"> </span>337<span class=\"_ _8\"/>.1 <span class=\"_ _8f\"> </span><span class=\"ff41\">461<span class=\"_ _8\"/>.3 <span class=\"_ _8e\"> </span>150.0 <span class=\"_ _147\"> </span>223.3 <span class=\"_ _116\"> </span>187<span class=\"_ _1\"/>.1 </span>Other current liabilities <span class=\"_ _166\"> </span>46.5 <span class=\"_ _16\"> </span>47<span class=\"_ _1\"/>.8 <span class=\"_ _8e\"> </span>21<span class=\"_ _7\"/>3.4 <span class=\"_ _8e\"> </span>1<span class=\"_ _3\"/>70.6 <span class=\"_ _8e\"> </span>139.1 <span class=\"_ _9d\"> </span>92.9 <span class=\"_ _9d\"> </span>20.5 <span class=\"_ _1b\"> </span>1<span class=\"_ _7\"/>3.9 <span class=\"_ _9d\"> </span>75.7 <span class=\"_ _19\"> </span>62.6 <span class=\"_ _156\"> </span>1<span class=\"_ _9\"/>.0 <span class=\"_ _155\"> </span>0.2 <span class=\"_ _147\"> </span>496.2 <span class=\"_ _147\"> </span>388.0 <span class=\"_ _116\"> </span><span class=\"ff41\">277<span class=\"_ _1\"/>.7 <span class=\"_ _90\"> </span>234.2 <span class=\"_ _90\"> </span>218.5 <span class=\"_ _90\"> </span>1<span class=\"_ _7\"/>53.8 </span>T<span class=\"_ _8\"/>otal liabilities 449.7 <span class=\"_ _b\"> </span>436.6 <span class=\"_ _192\"> </span>2,345.7 <span class=\"_ _192\"> </span>1,965.2 <span class=\"_ _13c\"> </span>521<span class=\"_ _7\"/>.7 <span class=\"_ _b\"> </span>450.5 <span class=\"_ _232\"> </span>184.8 <span class=\"_ _232\"> </span>194.9 <span class=\"_ _192\"> </span>1,319.6 <span class=\"_ _117\"> </span>1,428.3 <span class=\"_ _ad\"> </span>1.0 <span class=\"_ _27\"> </span>0.2 <span class=\"_ _192\"> </span>4,822.5 <span class=\"_ _192\"> </span>4,475.7 <span class=\"_ _192\"> </span><span class=\"ff19\">2,458.8 <span class=\"_ _192\"> </span>2,060.3 <span class=\"_ _192\"> </span>2,363.7 <span class=\"_ _192\"> </span>2,415.4 </span>Net assets <span class=\"_ _28a\"> </span><span class=\"fc0\">830.4 <span class=\"_ _232\"> </span></span>762.8 <span class=\"_ _117\"> </span><span class=\"fc0\">1,793.0 <span class=\"_ _1d\"> </span></span>1,347<span class=\"_ _1\"/>.8 <span class=\"_ _13c\"> </span><span class=\"fc0\">821.0 <span class=\"_ _90\"> </span></span>7<span class=\"_ _3\"/>47<span class=\"_ _8\"/>.6 <span class=\"_ _1a\"> </span>41<span class=\"_ _7\"/>.3 <span class=\"_ _17\"> </span><span class=\"fcb\">42.9 <span class=\"_ _147\"> </span></span>787<span class=\"_ _8\"/>.2 <span class=\"_ _b\"> </span><span class=\"fcb\">80<span class=\"_ _5\"/>0.0 <span class=\"_ _60\"> </span></span>0.6 <span class=\"_ _ad\"> </span>1<span class=\"_ _3\"/>.9 <span class=\"_ _192\"> </span><span class=\"fc0\">4,273.5 <span class=\"_ _192\"> </span></span>3,703.0 <span class=\"_ _192\"> </span><span class=\"ff19 fc0\">2,785.2 <span class=\"_ _192\"> </span><span class=\"fcb\">2,394.4 <span class=\"_ _192\"> </span></span>1,488.3 <span class=\"_ _192\"> </span><span class=\"fcb\">1,308.6 </span></span>V<span class=\"_ _3\"/>opak's share of net assets <span class=\"_ _81\"> </span>289.0 <span class=\"_ _142\"> </span>257<span class=\"_ _1\"/>.9 <span class=\"_ _147\"> </span>623.4 <span class=\"_ _8f\"> </span>481<span class=\"_ _9\"/>.1 <span class=\"_ _147\"> </span>360.3 <span class=\"_ _147\"> </span>336.5 <span class=\"_ _1b\"> </span>1<span class=\"_ _7\"/>9.1 <span class=\"_ _9d\"> </span>20.0 <span class=\"_ _90\"> </span>405.4 <span class=\"_ _147\"> </span>408.7 <span class=\"_ _155\"> </span>0.2 <span class=\"_ _22c\"> </span>0.9 <span class=\"_ _10b\"> </span>1,697<span class=\"_ _d\"/>.4 <span class=\"_ _e7\"> </span>1,505.1 <span class=\"_ _e7\"> </span><span class=\"ff41\">1,273.1 <span class=\"_ _e7\"> </span>1,098.2 <span class=\"_ _147\"> </span>424.3 <span class=\"_ _147\"> </span>406.9 </span>Goodwill on acquisition <span class=\"_ _16d\"> </span>36.6 <span class=\"_ _19\"> </span>34.4 <span class=\"_ _8e\"> </span>1<span class=\"_ _7\"/>05.4 <span class=\"_ _22c\"> </span>5.5 <span class=\"_ _155\"> </span>6.7 <span class=\"_ _22c\"> </span>6.9 <span class=\"_ _d2\"> </span>\u2013 <span class=\"_ _d2\"> </span>\u2013 <span class=\"_ _14\"> </span>31<span class=\"_ _9\"/>.7 <span class=\"_ _14\"> </span>31<span class=\"_ _9\"/>.4 <span class=\"_ _d2\"> </span>\u2013 <span class=\"_ _d2\"> </span>\u2013 <span class=\"_ _90\"> </span>180.4 <span class=\"_ _9d\"> </span>78.2 <span class=\"_ _90\"> </span><span class=\"ff41\">163.4 <span class=\"_ _b2\"> </span>67<span class=\"_ _d\"/>.3 <span class=\"_ _11\"> </span>1<span class=\"_ _7\"/>7<span class=\"_ _1\"/>.0 <span class=\"_ _1b\"> </span>1<span class=\"_ _7\"/>0.9 </span>V<span class=\"_ _9\"/>opak's carrying amount   of net assets <span class=\"_ _18c\"> </span><span class=\"fc0\">325.6 <span class=\"_ _232\"> </span></span>292.3 <span class=\"_ _b\"> </span><span class=\"fc0\">728.8 <span class=\"_ _232\"> </span></span>486.6 <span class=\"_ _147\"> </span>367<span class=\"_ _8\"/>.0 <span class=\"_ _b\"> </span><span class=\"fcb\">343.4 <span class=\"_ _21c\"> </span></span>19.1 <span class=\"_ _17\"> </span><span class=\"fcb\">20.0 <span class=\"_ _147\"> </span></span>437<span class=\"_ _8\"/>.1 <span class=\"_ _b\"> </span><span class=\"fcb\">440.1 <span class=\"_ _60\"> </span></span>0.2 <span class=\"_ _60\"> </span><span class=\"fcb\">0.9 <span class=\"_ _1d\"> </span></span>1,877<span class=\"_ _1\"/>.8 <span class=\"_ _192\"> </span><span class=\"fcb\">1,583.3 <span class=\"_ _192\"> </span></span><span class=\"ff19\">1,436.5 <span class=\"_ _192\"> </span><span class=\"fcb\">1,165.5 <span class=\"_ _13c\"> </span></span>441.3 <span class=\"_ _147\"> </span><span class=\"fcb\">417<span class=\"_ _1\"/>.8 </span></span>2022 Af<span class=\"_ _3\"/>ter completion of the purchase price allocation f<span class=\"_ _3\"/>or the A<span class=\"_ _7\"/>egis <span class=\"_ _3\"/>V<span class=\"_ _3\"/>opak <span class=\"_ _9\"/>T<span class=\"_ _8\"/>erminals Ltd. classified as a joint vent<span class=\"_ _7\"/>ure and Hindustan A<span class=\"_ _3\"/>egis LPG Ltd. classified as an associate, the respective provisionally determined goodwill balances amount to EUR 93.5 million and EUR 6.1 million. 2021 Af<span class=\"_ _3\"/>ter completion of the purchase price allocation f<span class=\"_ _3\"/>or the <span class=\"_ _3\"/>V<span class=\"_ _3\"/>opak Industrial Infrastructure Americas (VIIA) joint vent<span class=\"_ _7\"/>ure in the fourth quarter of 2021, the confirmed goodwill balance amounts to EUR 34.4 million. Contingent assets and liabilities The joint v<span class=\"_ _7\"/>entures and associates of the Group are cur<span class=\"_ _7\"/>rently<span class=\"_ _3\"/>, and may from time to time become, inv<span class=\"_ _7\"/>olved in a number of legal proceedings, including inquiries from, or discussions with, gov<span class=\"_ _7\"/>ernmental authorities (including t<span class=\"_ _5\"/>ax authorities) that are incidental to their operations. F<span class=\"_ _7\"/>or the contingent liabilities of the joint vent<span class=\"_ _7\"/>ures and associates as at year<span class=\"_ _9\"/>-end related to legal cases, it is based on the current f<span class=\"_ _7\"/>acts and circumst<span class=\"_ _5\"/>ances not believ<span class=\"_ _3\"/>ed that they ma<span class=\"_ _7\"/>y hav<span class=\"_ _7\"/>e a material adverse ef<span class=\"_ _3\"/>fect on the financial position or profitability of the Group. Due to inherent uncertainties, the Group cannot make any accurate quantification of an<span class=\"_ _7\"/>y cost, or timing of suc<span class=\"_ _3\"/>h cost, which ma<span class=\"_ _3\"/>y arise from any of the legal proceedings ref<span class=\"_ _7\"/>erred to in this report, how<span class=\"_ _7\"/>ev<span class=\"_ _7\"/>er costs in complex litigation ma<span class=\"_ _7\"/>y be subst<span class=\"_ _5\"/>antial. F<span class=\"_ _7\"/>or an ov<span class=\"_ _7\"/>er<span class=\"_ _5\"/>view of the commitments and contingent liabilities relating to our joint v<span class=\"_ _7\"/>entures and associates, ref<span class=\"_ _7\"/>erence is made to note 9.8. Joint v<span class=\"_ _7\"/>entur<span class=\"_ _7\"/>es and associates 2022 Ger<span class=\"_ _7\"/>man LNG <span class=\"_ _8\"/>T<span class=\"_ _8\"/>er<span class=\"_ _7\"/>minal in Ger<span class=\"_ _7\"/>man<span class=\"_ _7\"/>y (partial impair<span class=\"_ _3\"/>ment reversal) <span class=\"ff1\"> </span>In the first half year of 2022, as a result of <span class=\"_ _9\"/>V<span class=\"_ _3\"/>opak\u2019<span class=\"_ _9\"/>s divestment of its 33.3% shareholding in the German LNG <span class=\"_ _9\"/>T<span class=\"_ _8\"/>erminal GmbH, in the first half of 2022 an impairment reversal of EUR 3.8 million was recorded. <span class=\"_ _8\"/>This re<span class=\"_ _7\"/>versal partially of<span class=\"_ _3\"/>fsets the impairment of EUR 1<span class=\"_ _3\"/>0.8 million recognized in the third quarter of 2021<span class=\"_ _1\"/>. <span class=\"_ _9\"/>This impairment re<span class=\"_ _7\"/>versal is recorded as part of the Result of joint v<span class=\"_ _7\"/>entures and associates.  SPEC LNG ter<span class=\"_ _3\"/>minal in Colombia (impairment) <span class=\"ff1\"> </span>In the second quarter of 2022, an impairment was recogniz<span class=\"_ _7\"/>ed for the SPEC LNG terminal in Colombia for an amount of EUR 36.2 million. Mainly due to unusual w<span class=\"_ _7\"/>eather conditions in recent years whic<span class=\"_ _3\"/>h hav<span class=\"_ _7\"/>e brought a significant amount of rain in Colombia, hy<span class=\"_ _7\"/>dropow<span class=\"_ _7\"/>er has been av<span class=\"_ _7\"/>ailable as the main source of pow<span class=\"_ _7\"/>er<span class=\"_ _3\"/>, whic<span class=\"_ _7\"/>h resulted in a reduced utilization of the FSRU<span class=\"_ _7\"/>. In addition, the tight FSRU mark<span class=\"_ _7\"/>et associated with the Russia-Ukraine w<span class=\"_ _7\"/>ar is leading to the opportunity to reduce FSRU costs becoming remote. <span class=\"_ _3\"/>As a result of the abov<span class=\"_ _7\"/>e there is a decrease in dividend expectations. <span class=\"_ _9\"/>T<span class=\"_ _7\"/>his impairment is recorded as part of the Result of joint vent<span class=\"_ _7\"/>ures and associates. 2021 Ger<span class=\"_ _7\"/>man LNG <span class=\"_ _8\"/>T<span class=\"_ _8\"/>er<span class=\"_ _7\"/>minal in Ger<span class=\"_ _7\"/>man<span class=\"_ _7\"/>y (impair<span class=\"_ _7\"/>ment<span class=\"ff1\">)   </span>Af<span class=\"_ _3\"/>ter a strategic review<span class=\"_ _9\"/>, <span class=\"_ _3\"/>V<span class=\"_ _3\"/>opak decided to discontinue its active participation in the German LNG project leading to an ex<span class=\"_ _7\"/>ceptional loss of EUR 1<span class=\"_ _3\"/>0.8 million recognized in the third quarter of 2021<span class=\"_ _8\"/>.  LNG T<span class=\"_ _8\"/>er<span class=\"_ _7\"/>minal <span class=\"_ _4\"/>Altamira<span class=\"ws3\"> (impair<span class=\"_ _3\"/>ment)<span class=\"ff1\">   </span></span>Due to a new commercial agreement in place f<span class=\"_ _7\"/>or our LNG <span class=\"_ _9\"/>T<span class=\"_ _8\"/>erminal Altamira in Mexico the major assets in this joint vent<span class=\"_ _7\"/>ure are held under a finance lease arrangement. <span class=\"_ _7\"/>As a result, the carr<span class=\"_ _5\"/>ying amount of the joint v<span class=\"_ _7\"/>enture increased significantly and e<span class=\"_ _7\"/>xceeded its recov<span class=\"_ _3\"/>erable amount resulting in the derecognition of the goodwill balance for an amount of EUR 32.7 million. <span class=\"_ _9\"/>T<span class=\"_ _7\"/>he ov<span class=\"_ _7\"/>erall positive result from this transaction recogniz<span class=\"_ _7\"/>ed in the fourth quarter of 2021 amounts to EUR 2.8 million. ",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfInvestmentsAccountedForUsingEquityMethodExplanatory",
    "language": "en",
    "entity": "scheme:724500UL634GFV1KYF10",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
   }
  },
  "pp-value-52-5": {
   "value": "Note 2.7 Result of joint v<span class=\"_ _3\"/>entur<span class=\"_ _7\"/>es and associates A<span class=\"_ _1e\"> </span><span class=\"ff3 fs9\">Accounting policies </span>Joint v<span class=\"_ _7\"/>entures and associates are accounted f<span class=\"_ _7\"/>or using the equity method. For the accounting policies relating to joint vent<span class=\"_ _7\"/>ures and associates, ref<span class=\"_ _7\"/>erence is made to note 3.5. Result of joint vent<span class=\"_ _7\"/>ur<span class=\"_ _7\"/>es and associates In EUR millions <span class=\"_ _206\"> </span>Note <span class=\"_ _76\"> </span>2022 <span class=\"_ _76\"> </span>2021Result of joint v<span class=\"_ _7\"/>entures and associates <span class=\"_ _92\"> </span><span class=\"ff3 fc13\">3.5 <span class=\"_ _bd\"> </span></span>1<span class=\"_ _7\"/>94.7 <span class=\"_ _39\"> </span>215.8 Impairments joint vent<span class=\"_ _7\"/>ures and associates <span class=\"_ _2c\"> </span>3.5,<span class=\"_ _7\"/> 3.8 <span class=\"_ _bd\"> </span><span class=\"ff1 fc1\">- 36.2 <span class=\"_ _3a\"> </span>- 43.5 </span>Re<span class=\"_ _7\"/>versal of impairments joint vent<span class=\"_ _7\"/>ures and associates <span class=\"_ _86\"> </span>3.5,<span class=\"_ _7\"/> 3.8 <span class=\"_ _d0\"> </span><span class=\"ff1 fc1\">3.8 <span class=\"_ _55\"> </span>\u2013 </span>T<span class=\"_ _8\"/>otal <span class=\"_ _24d\"> </span><span class=\"fc0\">162.3 <span class=\"_ _38\"> </span></span>1<span class=\"_ _7\"/>72.3 Joint v<span class=\"_ _7\"/>entures are an important part of the Group. Summarized financial inf<span class=\"_ _7\"/>ormation of our joint vent<span class=\"_ _7\"/>ures and associates on an IFRS basis is presented in note 3.5.    In addition, the ef<span class=\"_ _7\"/>f<span class=\"_ _7\"/>ects of unaudited non-IFRS proportional consolidation on the statement of financial position and statement of income of the Group are presented under \u2018<span class=\"_ _1\"/>Additional information<span class=\"_ _3\"/>\u2019 accompanying this report. 2022 Exceptional gains/losses, w<span class=\"_ _7\"/>ere reported in Result of joint v<span class=\"_ _7\"/>entures and associates as f<span class=\"_ _7\"/>ollows: Impair<span class=\"_ _7\"/>ment SPEC LNG ter<span class=\"_ _3\"/>minal <span class=\"ff1\"> </span>In the second quarter an impairment was recogniz<span class=\"_ _7\"/>ed for the SPEC LNG terminal in Colombia for an amount of EUR 36.2 million. Mainly due to unusual w<span class=\"_ _7\"/>eather conditions in recent years whic<span class=\"_ _3\"/>h have brought a significant amount of rain in Colombia, h<span class=\"_ _7\"/>ydropo<span class=\"_ _7\"/>wer has been a<span class=\"_ _7\"/>vailable as the main source of pow<span class=\"_ _7\"/>er<span class=\"_ _3\"/>, whic<span class=\"_ _3\"/>h resulted in a reduced utilization of the FSRU. In addition, the tight FSRU mark<span class=\"_ _7\"/>et associated with the Russia-Ukraine w<span class=\"_ _7\"/>ar is leading to the opportunity to reduce FSRU costs becoming remote. <span class=\"_ _7\"/>As a result of the abo<span class=\"_ _7\"/>ve there is a decrease in dividend expectations Divestment Ger<span class=\"_ _3\"/>man LNG <span class=\"ff1\"> </span>As a result of <span class=\"_ _9\"/>V<span class=\"_ _3\"/>opak\u2019<span class=\"_ _9\"/>s divestment of its 33.3% shareholding in the German LNG <span class=\"_ _9\"/>T<span class=\"_ _8\"/>erminal GmbH, in the first half of 2022 an impairment rev<span class=\"_ _7\"/>ersal of EUR 3.8 million was recorded. <span class=\"_ _8\"/>This rev<span class=\"_ _7\"/>ersal partially of<span class=\"_ _7\"/>fsets the impairment of EUR 1<span class=\"_ _3\"/>0.8 million recognized in the third quarter of 2021<span class=\"_ _8\"/>. <span class=\"_ _9\"/>The proceeds receiv<span class=\"_ _3\"/>ed amounted to EUR 3.8 million. 2021 Exceptional gains/losses, w<span class=\"_ _7\"/>ere reported in Result of joint v<span class=\"_ _7\"/>entures and associates as f<span class=\"_ _7\"/>ollows: P<span class=\"_ _7\"/>artial r<span class=\"_ _3\"/>elease tax provision <span class=\"ff1\"> </span>In 2021, an ex<span class=\"_ _7\"/>ceptional gain of EUR 2.2 million was recogniz<span class=\"_ _7\"/>ed in the result of joint vent<span class=\"_ _7\"/>ures and associates relating to a partial release of a tax provision that was recogniz<span class=\"_ _7\"/>ed in a joint vent<span class=\"_ _7\"/>ure terminal within the A<span class=\"_ _7\"/>sia &amp; Middle East division at the end of 20<span class=\"_ _3\"/>1<span class=\"_ _3\"/>9. Business develop<span class=\"ws150\">ment <span class=\"_ _4\"/>costs VMH <span class=\"_\"> </span></span><span class=\"ff1\"> </span>In the fourth quarter of 2021, an e<span class=\"_ _7\"/>xceptional loss of EUR 4.8 million w<span class=\"_ _7\"/>as recognized in the Moda Houston terminal (VMH) for business de<span class=\"_ _7\"/>velopment costs. <span class=\"_ _8\"/>This impairment is the result of a strategic revie<span class=\"_ _7\"/>w af<span class=\"_ _3\"/>ter which it w<span class=\"_ _7\"/>as concluded that <span class=\"_ _3\"/>VMH will focus on ammonia and gas projects going for<span class=\"_ _5\"/>ward leading to a write-of<span class=\"_ _3\"/>f of certain business development projects. F<span class=\"_ _7\"/>or impairments recorded for our joint v<span class=\"_ _7\"/>entures and associates, ref<span class=\"_ _3\"/>erence is made to note 3.8 for further details. Note 3.5 J<span class=\"_ _7\"/>oint vent<span class=\"_ _7\"/>ur<span class=\"_ _7\"/>es and associates  V<span class=\"_ _3\"/>opak\u2019<span class=\"_ _9\"/>s interest in the principal joint vent<span class=\"_ _7\"/>ures and associates at year<span class=\"_ _9\"/>-end 2022 consisted of 27 (2021: 26) unlisted joint vent<span class=\"_ _7\"/>ures and 1<span class=\"_ _3\"/>0 (2021: 9) unlisted associates. <span class=\"_ _7\"/>Although the Group conducts a large part of its activities by means of these joint v<span class=\"_ _7\"/>entures and associates, none of these entities are currently individually material f<span class=\"_ _7\"/>or the Group. <span class=\"_ _9\"/>The nat<span class=\"_ _3\"/>ure of<span class=\"_ _7\"/>, and c<span class=\"_ _7\"/>hanges in, the risks associated with its interests in joint vent<span class=\"_ _7\"/>ures and associates is primarily linked to the region and/or the activities. F<span class=\"_ _7\"/>or the disclosure of the nature, e<span class=\"_ _7\"/>xtent and financial ef<span class=\"_ _7\"/>f<span class=\"_ _7\"/>ects of our joint vent<span class=\"_ _7\"/>ures and associates, we mak<span class=\"_ _7\"/>e a distinction in the activities of the divisions Europe &amp; Africa (limited number of oil and c<span class=\"_ _3\"/>hemical terminals), A<span class=\"_ _7\"/>sia &amp; Middle East, (all types of storage terminals, ex<span class=\"_ _7\"/>cept LNG), New Energy &amp; LNG (joint v<span class=\"_ _7\"/>entures and associates with long-term contracts) and China &amp; North A<span class=\"_ _7\"/>sia (mainly industrial terminals). <span class=\"_ _9\"/>T<span class=\"_ _7\"/>he Americas division currently has a number of joint v<span class=\"_ _7\"/>entures and associates mainly operating gas and industrial terminals. No significant judgments were made b<span class=\"_ _7\"/>y the Group with regard to the classification of joint vent<span class=\"_ _7\"/>ures and associates. All material joint ar<span class=\"_ _7\"/>rangements are currently classified as joint vent<span class=\"_ _7\"/>ures because joint control is established by contract and the Group only has rights to the net assets of these entities. <span class=\"_ _9\"/>T<span class=\"_ _7\"/>he Group currently has no material inv<span class=\"_ _7\"/>estment in a joint operation. The Group has se<span class=\"_ _7\"/>veral majority ownerships whic<span class=\"_ _3\"/>h qualify as joint vent<span class=\"_ _7\"/>ures: a 60% majority ownership in LNG <span class=\"_ _8\"/>T<span class=\"_ _9\"/>erminal Altamira in Mexico, a 51% majority ownership in <span class=\"_ _9\"/>V<span class=\"_ _3\"/>opak <span class=\"_ _9\"/>T<span class=\"_ _8\"/>erminals Korea Ltd., a 51% majority ownership in <span class=\"_ _9\"/>V<span class=\"_ _3\"/>opak (Qinzhou) Jet<span class=\"_ _3\"/>t<span class=\"_ _5\"/>y Co., Ltd. and in Guangxi Hualin Jet<span class=\"_ _3\"/>ty Co., Ltd. each, both in China. In Me<span class=\"_ _3\"/>xico, the Group has 50% of the voting rights. In Korea, the partner o<span class=\"_ _7\"/>wns an ex<span class=\"_ _7\"/>ercisable call option right at any time of 1% of the shares and therefore the substantive v<span class=\"_ _7\"/>oting rights of the Group are limited to 50%. In China, for both entities and in India all decisions about the relev<span class=\"_ _7\"/>ant activities of the entity are made based on unanimous consent of the shareholders in accordance with the shareholders agreement concerned. The Group has a 1<span class=\"_ _9\"/>0% equit<span class=\"_ _5\"/>y interest in <span class=\"_ _9\"/>V<span class=\"_ _3\"/>opak <span class=\"_ _9\"/>T<span class=\"_ _9\"/>erminal Eemsha<span class=\"_ _7\"/>ven in the Netherlands whic<span class=\"_ _3\"/>h is classified as an associate as the Group has significant influence. <span class=\"_ _9\"/>T<span class=\"_ _7\"/>he Group has been appointed as operator of this terminal. A<span class=\"_ _7\"/>s operator<span class=\"_ _3\"/>, <span class=\"_ _3\"/>V<span class=\"_ _3\"/>opak has the right to appoint the management board of the terminal. In addition, as 1<span class=\"_ _3\"/>0% shareholder in the entity<span class=\"_ _3\"/>, <span class=\"_ _3\"/>V<span class=\"_ _3\"/>opak is entitled to appoint one of the three members of the Super<span class=\"_ _5\"/>visor<span class=\"_ _5\"/>y Board and is able to participate in the decision making process of the entity<span class=\"_ _3\"/>.  Ref<span class=\"_ _3\"/>erence is made to note 9.1<span class=\"_ _9\"/>1 for an o<span class=\"_ _7\"/>verview of the principal joint vent<span class=\"_ _7\"/>ures and associates. A<span class=\"_ _1e\"> </span><span class=\"ff3 fs9\">Accounting policies </span>Joint v<span class=\"_ _7\"/>entures and associates are accounted f<span class=\"_ _7\"/>or using the equity method, whic<span class=\"_ _7\"/>h involv<span class=\"_ _7\"/>es recognition in the Consolidated statement of income of <span class=\"_ _3\"/>V<span class=\"_ _3\"/>opak\u2019<span class=\"_ _9\"/>s share of the net result of the joint vent<span class=\"_ _7\"/>ures and associates for the y<span class=\"_ _7\"/>ear<span class=\"_ _3\"/>. A<span class=\"_ _7\"/>ccounting policies of joint vent<span class=\"_ _7\"/>ures and associates hav<span class=\"_ _7\"/>e been aligned where necessar<span class=\"_ _5\"/>y to ensure consistency with the policies adopted by the Group. <span class=\"_ _9\"/>V<span class=\"_ _3\"/>opak\u2019<span class=\"_ _9\"/>s interest in a joint vent<span class=\"_ _7\"/>ure or associate is carried in the statement of financial position at its share in the net assets of the joint venture or associate together with goodwill paid on acquisition, less any impairment loss. <span class=\"_ _9\"/>When the share in the losses ex<span class=\"_ _7\"/>ceeds the carr<span class=\"_ _5\"/>ying amount of an equity-accounted company (including an<span class=\"_ _3\"/>y other receivables f<span class=\"_ _7\"/>orming part of the net inv<span class=\"_ _7\"/>estment in the company), the carrying amount is writ<span class=\"_ _3\"/>ten down to nil and recognition of further losses is discontinued, unless we ha<span class=\"_ _7\"/>ve incurred legal or constructiv<span class=\"_ _7\"/>e obligations relating to the company in question. Gr<span class=\"_ _7\"/>oup\u2019<span class=\"_ _9\"/>s share of the t<span class=\"_ _7\"/>otal compr<span class=\"_ _7\"/>ehensive income and the car<span class=\"_ _3\"/>rying amount of joint ventur<span class=\"_ _3\"/>es and associates Joint v<span class=\"_ _7\"/>entures <span class=\"_ _27b\"> </span>Associates <span class=\"_ _27c\"> </span>T<span class=\"_ _8\"/>otal In EUR millions <span class=\"_ _1a7\"> </span><span class=\"fs7 fc0\">2022 <span class=\"_ _1b2\"> </span><span class=\"fc7\">2021 <span class=\"_ _7f\"> </span></span>2022 <span class=\"_ _1b2\"> </span><span class=\"fc7\">2021 <span class=\"_ _1b2\"> </span></span>2022 <span class=\"_ _7f\"> </span><span class=\"fc7\">2021 </span></span>V<span class=\"_ _3\"/>opak's share in net assets <span class=\"_ _27d\"> </span>1,098.2 <span class=\"_ _1bb\"> </span>887<span class=\"_ _1\"/>.4 <span class=\"_ _18a\"> </span>406.9 <span class=\"_ _19c\"> </span>347<span class=\"_ _1\"/>.9 <span class=\"_ _4d\"> </span>1,505.1 <span class=\"_ _4d\"> </span>1,235.3 Goodwill on acquisition <span class=\"_ _27e\"> </span>67<span class=\"_ _1\"/>.3 <span class=\"_ _2f\"> </span>7<span class=\"_ _9\"/>4.2 <span class=\"_ _66\"> </span>1<span class=\"_ _3\"/>0.9 <span class=\"_ _db\"> </span>9.9 <span class=\"_ _45\"> </span>78.2 <span class=\"_ _45\"> </span>84.1 Car<span class=\"_ _7\"/>rying amount at 31 December <span class=\"_ _27f\"> </span><span class=\"fc0\">1,165.5 <span class=\"_ _131\"> </span></span>961<span class=\"_ _3\"/>.6 <span class=\"_ _18a\"> </span>417<span class=\"_ _8\"/>.8 <span class=\"_ _e6\"> </span><span class=\"fcb\">357<span class=\"_ _8\"/>.8 <span class=\"_ _19b\"> </span><span class=\"fc0\">1,583.3 <span class=\"_ _118\"> </span></span>1,319.4 </span>Share in profit or loss <span class=\"_ _280\"> </span><span class=\"ff3 fc13\">2.7 <span class=\"_ _49\"> </span></span>1<span class=\"_ _7\"/>39.2 <span class=\"_ _7e\"> </span>1<span class=\"_ _7\"/>56.6 <span class=\"_ _45\"> </span>55.5 <span class=\"_ _45\"> </span>59.2 <span class=\"_ _18a\"> </span>194.7 <span class=\"_ _18a\"> </span>21<span class=\"_ _7\"/>5.8 Impairments <span class=\"_ _281\"> </span>2.7<span class=\"_ _8\"/>, 3.8 <span class=\"_ _86\"> </span><span class=\"ff1 fc1\">\u2013 <span class=\"_ _e6\"> </span>- 43.5 <span class=\"_ _18a\"> </span>- 36.2 <span class=\"_ _130\"> </span>\u2013 <span class=\"_ _e6\"> </span>- 36.2 <span class=\"_ _18a\"> </span>- 43.5 </span>Re<span class=\"_ _7\"/>versal of impairments <span class=\"_ _1f4\"> </span>2.7<span class=\"_ _1\"/>, 3.8 <span class=\"_ _5a\"> </span><span class=\"ff1 fc1\">3.8 <span class=\"_ _130\"> </span>\u2013 <span class=\"_ _130\"> </span>\u2013 <span class=\"_ _130\"> </span>\u2013 <span class=\"_ _1bc\"> </span>3.8 <span class=\"_ _130\"> </span>\u2013 </span>Net profit 143.0 <span class=\"_ _4f\"> </span>1<span class=\"_ _9\"/>13.1 <span class=\"_ _b1\"> </span>19.3 <span class=\"_ _51\"> </span>59.2 <span class=\"_ _53\"> </span>162.3 <span class=\"_ _53\"> </span>172.3 Other comprehensive income <span class=\"_ _1d1\"> </span><span class=\"ff3 fc13\">5.2 <span class=\"_ _3f\"> </span></span>46.6 <span class=\"_ _100\"> </span>9.7 <span class=\"_ _45\"> </span>22.0 <span class=\"_ _189\"> </span>1<span class=\"_ _7\"/>0.5 <span class=\"_ _45\"> </span>68.6 <span class=\"_ _45\"> </span>20.2 Comprehensiv<span class=\"_ _7\"/>e income 189.6 <span class=\"_ _190\"> </span>122.8 <span class=\"_ _83\"> </span>41<span class=\"_ _3\"/>.3 <span class=\"_ _b1\"> </span>69.7 <span class=\"_ _53\"> </span>230.9 <span class=\"_ _53\"> </span>1<span class=\"_ _7\"/>92.5 Dividends received <span class=\"_ _270\"> </span><span class=\"ff3 fc13\">2.9 <span class=\"_ _190\"> </span></span>- 1<span class=\"_ _7\"/>62.5 <span class=\"_ _7f\"> </span>- 91<span class=\"_ _9\"/>.9 <span class=\"_ _7f\"> </span>- 61<span class=\"_ _9\"/>.3 <span class=\"_ _e6\"> </span>- 42.7 <span class=\"_ _31\"> </span>- 223.8 <span class=\"_ _8d\"> </span>- 1<span class=\"_ _7\"/>34.6 Inv<span class=\"_ _7\"/>estments <span class=\"_ _282\"> </span>34.7 <span class=\"_ _7e\"> </span>1<span class=\"_ _3\"/>04.3 <span class=\"_ _130\"> </span>\u2013 <span class=\"_ _db\"> </span>5.7 <span class=\"_ _45\"> </span>34.7 <span class=\"_ _1bb\"> </span>1<span class=\"_ _9\"/>1<span class=\"_ _7\"/>0.0 Acquisitions <span class=\"_ _283\"> </span>1<span class=\"_ _7\"/>86.1 <span class=\"_ _130\"> </span>\u2013 <span class=\"_ _45\"> </span>40.2 <span class=\"_ _130\"> </span>\u2013 <span class=\"_ _e6\"> </span>226.3 <span class=\"_ _130\"> </span>\u2013 Redemption share capital <span class=\"_ _284\"> </span>\u2013 <span class=\"_ _130\"> </span>\u2013 <span class=\"_ _45\"> </span>- 5.0 <span class=\"_ _130\"> </span>\u2013 <span class=\"_ _45\"> </span>- 5.0 <span class=\"_ _183\"> </span>\u2013 T<span class=\"_ _9\"/>ransfers due to c<span class=\"_ _3\"/>hange in ownership <span class=\"_ _285\"> </span>1<span class=\"_ _9\"/>.3 <span class=\"_ _183\"> </span>\u2013 <span class=\"_ _130\"> </span>\u2013 <span class=\"_ _108\"> </span>- 7<span class=\"_ _d\"/>.7 <span class=\"_ _8b\"> </span>1<span class=\"_ _9\"/>.3 <span class=\"_ _88\"> </span>- 7<span class=\"_ _1\"/>.7 Other <span class=\"_ _286\"> </span>0.1 <span class=\"_ _45\"> </span>- 0.4 <span class=\"_ _130\"> </span>\u2013 <span class=\"_ _db\"> </span>0.1 <span class=\"_ _db\"> </span>0.1 <span class=\"_ _45\"> </span>- 0.3 Exc<span class=\"_ _3\"/>hange diff<span class=\"_ _3\"/>erences <span class=\"_ _287\"> </span>21<span class=\"_ _9\"/>.7 <span class=\"_ _45\"> </span>69.1 <span class=\"_ _1bc\"> </span>8.3 <span class=\"_ _45\"> </span>34.9 <span class=\"_ _189\"> </span>30.0 <span class=\"_ _7e\"> </span>1<span class=\"_ _3\"/>04.0 Car<span class=\"_ _7\"/>rying amount at 31 December <span class=\"_ _27f\"> </span><span class=\"fc0\">1,436.5 <span class=\"_ _19b\"> </span></span>1,165.5 <span class=\"_ _131\"> </span>441<span class=\"_ _7\"/>.3 <span class=\"_ _18a\"> </span>417<span class=\"_ _1\"/>.8 <span class=\"_ _15a\"> </span><span class=\"fc0\">1,877<span class=\"_ _1\"/>.8 <span class=\"_ _118\"> </span><span class=\"fcb\">1,583.3 </span></span>V<span class=\"_ _3\"/>opak's share in net assets <span class=\"_ _27d\"> </span>1,273.1 <span class=\"_ _4d\"> </span>1,098.2 <span class=\"_ _e6\"> </span>424.3 <span class=\"_ _18a\"> </span>406.9 <span class=\"_ _f9\"> </span>1,697<span class=\"_ _d\"/>.4 <span class=\"_ _4d\"> </span>1,505.1 Goodwill on acquisition <span class=\"_ _288\"> </span>1<span class=\"_ _7\"/>63.4 <span class=\"_ _88\"> </span>67<span class=\"_ _1\"/>.3 <span class=\"_ _3f\"> </span>1<span class=\"_ _7\"/>7<span class=\"_ _1\"/>.0 <span class=\"_ _66\"> </span>1<span class=\"_ _3\"/>0.9 <span class=\"_ _7e\"> </span>180.4 <span class=\"_ _45\"> </span>78.2 Car<span class=\"_ _7\"/>rying amount at 31 December <span class=\"_ _27f\"> </span><span class=\"fc0\">1,436.5 <span class=\"_ _19b\"> </span></span>1,165.5 <span class=\"_ _131\"> </span>441<span class=\"_ _7\"/>.3 <span class=\"_ _18a\"> </span>417<span class=\"_ _1\"/>.8 <span class=\"_ _15a\"> </span><span class=\"fc0\">1,877<span class=\"_ _1\"/>.8 <span class=\"_ _118\"> </span><span class=\"fcb\">1,583.3 </span></span>Other comprehensive income is primarily related to the ef<span class=\"_ _3\"/>f<span class=\"_ _7\"/>ective portion of c<span class=\"_ _3\"/>hanges in the fair v<span class=\"_ _7\"/>alue of cash flow hedges within the joint v<span class=\"_ _7\"/>entures, whic<span class=\"_ _3\"/>h are recognized through the statement of comprehensive income. F<span class=\"_ _7\"/>or more information on the impairments recogniz<span class=\"_ _7\"/>ed on the inv<span class=\"_ _7\"/>estments in joint vent<span class=\"_ _7\"/>ures and associates, ref<span class=\"_ _7\"/>erence is made to note 3.8. Inv<span class=\"_ _7\"/>estments and divestments of joint v<span class=\"_ _7\"/>entur<span class=\"_ _3\"/>es and associates 2022 Aegis <span class=\"_ _8\"/>V<span class=\"_ _9\"/>opak <span class=\"_ _8\"/>T<span class=\"_ _8\"/>er<span class=\"_ _7\"/>minals Ltd. and Hindustan <span class=\"_ _9\"/>Aegis LPG Ltd.<span class=\"_ _7\"/> - acquisition <span class=\"ff1\"> </span>On 25 May 2022, <span class=\"_ _9\"/>V<span class=\"_ _3\"/>opak acquired a 49% shareholding in the A<span class=\"_ _3\"/>egis <span class=\"_ _3\"/>V<span class=\"_ _3\"/>opak <span class=\"_ _9\"/>T<span class=\"_ _9\"/>erminals Ltd. entity and a 24% shareholding in the Hindustan A<span class=\"_ _7\"/>egis LPG Ltd. entity<span class=\"_ _3\"/>. <span class=\"_ _9\"/>The successful completion  of the Indian joint vent<span class=\"_ _7\"/>ure with A<span class=\"_ _3\"/>egis, positions <span class=\"_ _3\"/>V<span class=\"_ _3\"/>opak as the largest storage provider f<span class=\"_ _7\"/>or  LPG and c<span class=\"_ _3\"/>hemicals in India. <span class=\"_ _9\"/>The acquisition date f<span class=\"_ _7\"/>air value of the consideration transf<span class=\"_ _3\"/>erred amounts to EUR 226.3 million, of whic<span class=\"_ _3\"/>h EUR 1<span class=\"_ _3\"/>7<span class=\"_ _9\"/>4.2 million was paid in cash and <span class=\"ls6\"> </span>EUR 52.1 million is contingent upon the occurrence of certain future e<span class=\"_ _7\"/>vents. The conditional pa<span class=\"_ _7\"/>yments depend on meeting (mec<span class=\"_ _3\"/>hanical) completion for certain projects (EUR 32.6 million) and ex<span class=\"_ _7\"/>ceeding certain revenue targets in the period up till 30 September 2025 (EUR 1<span class=\"_ _3\"/>9.5 million). <span class=\"_ _9\"/>The cash outflo<span class=\"_ _7\"/>ws for these pa<span class=\"_ _7\"/>yments are currently expected  in the period 2023-2025 and hav<span class=\"_ _7\"/>e been measured based on their discounted value (8%).  The Group is still w<span class=\"_ _7\"/>orking on the notional purc<span class=\"_ _3\"/>hase price allocation for this joint vent<span class=\"_ _7\"/>ure  and associate, and expects to finaliz<span class=\"_ _7\"/>e this within twelve months af<span class=\"_ _3\"/>ter acquisition date.  In connection with these acquisitions, transaction-related expenses w<span class=\"_ _7\"/>ere incurred for EUR 1<span class=\"_ _8\"/>.2 million. Diize - fr<span class=\"_ _7\"/>om subsidiary to joint v<span class=\"_ _7\"/>entur<span class=\"_ _7\"/>e <span class=\"ff1\"> </span>In December 2022, follo<span class=\"_ _7\"/>wing the partial divestment of 50% of the shareholding in Diiz<span class=\"_ _7\"/>e B.V<span class=\"_ _1\"/>. V<span class=\"_ _3\"/>opak derecognized the assets and liabilities of Diiz<span class=\"_ _7\"/>e B.V<span class=\"_ _1\"/>. and recognized the retained 50% shareholding at EUR 0.1 million. Af<span class=\"_ _3\"/>ter the partial divestment, <span class=\"_ _9\"/>V<span class=\"_ _3\"/>opak holds a 50% equity st<span class=\"_ _5\"/>ake whic<span class=\"_ _3\"/>h classifies as a joint venture. Ger<span class=\"_ _7\"/>man <span class=\"_\"> </span>LNG T<span class=\"_ _8\"/>ermina<span class=\"ws3\">l - div<span class=\"_ _7\"/>estment <span class=\"ff1\"> </span></span>As a result of <span class=\"_ _9\"/>V<span class=\"_ _3\"/>opak\u2019<span class=\"_ _9\"/>s divestment of its 33.3% shareholding in the German LNG <span class=\"_ _9\"/>T<span class=\"_ _8\"/>erminal GmbH, an impairment rev<span class=\"_ _7\"/>ersal of EUR 3.8 million was recorded as an e<span class=\"_ _7\"/>xceptional gain. This re<span class=\"_ _7\"/>versal partially of<span class=\"_ _3\"/>fsets the impairment of EUR 1<span class=\"_ _3\"/>0.8 million recognized in the third quarter of 2021<span class=\"_ _8\"/>. Contingent proceeds dependent on the final inv<span class=\"_ _7\"/>estment decision (FID) of   the project amounted to EUR 8.9 million. A<span class=\"_ _7\"/>s at the reporting date respective conditions were not y<span class=\"_ _7\"/>et met.  Thai T<span class=\"_ _8\"/>ank T<span class=\"_ _8\"/>er<span class=\"_ _7\"/>minal <span class=\"_\"> </span>- <span class=\"_ _a\"> </span>part<span class=\"ws3\">ial divestment <span class=\"ff1\"> </span></span>In December 2022, an ex<span class=\"_ _7\"/>ceptional gain of EUR 5.2 million was recorded related to the dilution of 1<span class=\"_ _3\"/>4% equit<span class=\"_ _5\"/>y stake in <span class=\"_ _9\"/>T<span class=\"_ _7\"/>hai <span class=\"_ _9\"/>T<span class=\"_ _9\"/>ank <span class=\"_ _9\"/>T<span class=\"_ _8\"/>erminal Ltd. located in <span class=\"_ _9\"/>Thailand. <span class=\"_ _7\"/>Af<span class=\"_ _7\"/>ter the dilution V<span class=\"_ _3\"/>opak holds an equity st<span class=\"_ _5\"/>ake of 35% whic<span class=\"_ _3\"/>h continues to be classified as a joint vent<span class=\"_ _7\"/>ure.  2021 Jubail Chemicals Stor<span class=\"_ _7\"/>age and Services Compan<span class=\"_ _3\"/>y - partial divestment <span class=\"ff1\"> </span>In the fourth quarter of 2021 an e<span class=\"_ _7\"/>xceptional loss of EUR 0.7 million w<span class=\"_ _7\"/>as recorded related  to a partial divestment of a 3% equity stake in the terminal Jubail Chemicals Storage and Ser<span class=\"_ _5\"/>vices Company (JCSSC) located in Saudi <span class=\"_ _7\"/>Arabia. Af<span class=\"_ _3\"/>ter the divestment <span class=\"_ _9\"/>V<span class=\"_ _3\"/>opak holds a 22% equity st<span class=\"_ _5\"/>ake in the associate.   Summar<span class=\"_ _7\"/>ized inf<span class=\"_ _7\"/>or<span class=\"_ _3\"/>mation of joint ventur<span class=\"_ _7\"/>es and associates on a 1<span class=\"_ _9\"/>0<span class=\"_ _5\"/>0% basis The f<span class=\"_ _7\"/>ollowing inf<span class=\"_ _7\"/>ormation reflects the amounts presented in the financial statements of the joint vent<span class=\"_ _7\"/>ures and associates adjusted for dif<span class=\"_ _3\"/>f<span class=\"_ _7\"/>erences in accounting policies bet<span class=\"_ _5\"/>w<span class=\"_ _7\"/>een the Group and the joint vent<span class=\"_ _7\"/>ures and associates and, when applicable, the ef<span class=\"_ _3\"/>fects of the purc<span class=\"_ _3\"/>hase price allocation performed by the Group with regard to the acquisition of the joint vent<span class=\"_ _7\"/>ure or associate. Summar<span class=\"_ _3\"/>ized statement of t<span class=\"_ _3\"/>otal comprehensiv<span class=\"_ _7\"/>e income T<span class=\"_ _8\"/>otal joint Asia &amp;   China &amp; New Energ<span class=\"_ _7\"/>y vent<span class=\"_ _7\"/>ures and of whic<span class=\"_ _7\"/>h  joint of whic<span class=\"_ _7\"/>h  Amer<span class=\"_ _7\"/>icas Middle East North Asia <span class=\"_ _26\"> </span>Europe <span class=\"_ _5\"/>&amp; Africa &amp; LNG <span class=\"_ _1bb\"> </span>Other associates vent<span class=\"_ _7\"/>ures associates In EUR millions <span class=\"_ _19e\"> </span>2022 <span class=\"_ _289\"> </span><span class=\"fc7\">2021 <span class=\"_ _289\"> </span></span>2022 <span class=\"_ _289\"> </span><span class=\"fc7\">2021 <span class=\"_ _8f\"> </span></span>2022 <span class=\"_ _289\"> </span><span class=\"fc7\">2021 <span class=\"_ _289\"> </span></span>2022 <span class=\"_ _289\"> </span><span class=\"fc7\">2021 <span class=\"_ _8f\"> </span></span>2022 <span class=\"_ _289\"> </span><span class=\"fc7\">2021 <span class=\"_ _289\"> </span></span>2022 <span class=\"_ _289\"> </span><span class=\"fc7\">2021 <span class=\"_ _8f\"> </span></span>2022 <span class=\"_ _289\"> </span><span class=\"fc7\">2021 <span class=\"_ _289\"> </span></span>2022 <span class=\"_ _8f\"> </span><span class=\"fc7\">2021 <span class=\"_ _289\"> </span></span>2022 <span class=\"_ _289\"> </span>2021Re<span class=\"_ _7\"/>venues <span class=\"_ _e5\"> </span>1<span class=\"_ _7\"/>97<span class=\"_ _1\"/>.3 <span class=\"_ _8e\"> </span>1<span class=\"_ _7\"/>55.6 <span class=\"_ _15b\"> </span>7<span class=\"_ _9\"/>41<span class=\"_ _9\"/>.5 <span class=\"_ _147\"> </span>606.4 <span class=\"_ _8f\"> </span>221<span class=\"_ _8\"/>.3 <span class=\"_ _8e\"> </span>213.8 <span class=\"_ _9d\"> </span>49.6 <span class=\"_ _9d\"> </span>52.0 <span class=\"_ _8e\"> </span>31<span class=\"_ _7\"/>6.1 <span class=\"_ _147\"> </span>303.2 <span class=\"_ _aa\"> </span>1<span class=\"_ _9\"/>.0 <span class=\"_ _d2\"> </span>\u2013 <span class=\"_ _1d\"> </span>1,526.8 <span class=\"_ _13\"> </span>1,331<span class=\"_ _9\"/>.0 <span class=\"_ _147\"> </span><span class=\"ff41\">895.8 <span class=\"_ _8e\"> </span>81<span class=\"_ _7\"/>0.1 <span class=\"_ _8f\"> </span>631<span class=\"_ _8\"/>.0 <span class=\"_ _90\"> </span>520.9 </span>Other income <span class=\"_ _a9\"> </span>40.0 <span class=\"_ _19\"> </span>39.1 <span class=\"_ _22c\"> </span>5.6 <span class=\"_ _233\"> </span>1<span class=\"_ _3\"/>0.7 <span class=\"_ _1b\"> </span>1<span class=\"_ _7\"/>8.7 <span class=\"_ _1b\"> </span>1<span class=\"_ _7\"/>2.0 <span class=\"_ _156\"> </span>1<span class=\"_ _9\"/>.1 <span class=\"_ _9d\"> </span>- 0.2 <span class=\"_ _17\"> </span><span class=\"ls9e wsec\">111.<span class=\"_ _4\"/>5<span class=\"_ _4\"> </span> <span class=\"_ _8e\"> </span></span>1<span class=\"_ _7\"/>55.3 <span class=\"_ _d2\"> </span>\u2013 <span class=\"_ _d2\"> </span>\u2013 <span class=\"_ _8f\"> </span>1<span class=\"_ _3\"/>7<span class=\"_ _7\"/>6.9 <span class=\"_ _8e\"> </span>21<span class=\"_ _7\"/>6.9 <span class=\"_ _9d\"> </span><span class=\"ff41\">56.4 <span class=\"_ _289\"> </span>1<span class=\"_ _3\"/>09.9 <span class=\"_ _8e\"> </span>1<span class=\"_ _7\"/>20.5 <span class=\"_ _15b\"> </span>1<span class=\"_ _3\"/>07<span class=\"_ _8\"/>.0 </span>Operating expenses <span class=\"_ _165\"> </span>- 1<span class=\"_ _7\"/>47<span class=\"_ _1\"/>.9 <span class=\"_ _10a\"> </span>- 1<span class=\"_ _7\"/>23.3 <span class=\"_ _37\"> </span>- 21<span class=\"_ _3\"/>7<span class=\"_ _8\"/>.5 <span class=\"_ _10a\"> </span>- 1<span class=\"_ _3\"/>33.8 <span class=\"_ _90\"> </span>- 73.4 <span class=\"_ _147\"> </span>- 58.3 <span class=\"_ _8e\"> </span>- 1<span class=\"_ _7\"/>9.3 <span class=\"_ _90\"> </span>- 18.5 <span class=\"_ _10a\"> </span>- 1<span class=\"_ _3\"/>09.9 <span class=\"_ _147\"> </span>- 99.9 <span class=\"_ _19\"> </span>- 2.9 <span class=\"_ _9d\"> </span>- 0.9 <span class=\"_ _1dc\"> </span>- 570.9 <span class=\"_ _1dc\"> </span>- 434.7 <span class=\"_ _10a\"> </span><span class=\"ff41\">- 31<span class=\"_ _3\"/>2.5 <span class=\"_ _27a\"> </span>- 27<span class=\"_ _3\"/>6.8 <span class=\"_ _1dc\"> </span>- 258.4 <span class=\"_ _37\"> </span>- 1<span class=\"_ _3\"/>57<span class=\"_ _1\"/>.9 </span>EBITD<span class=\"_ _7\"/>A 89.4 <span class=\"_ _21c\"> </span>71.4 <span class=\"_ _b\"> </span>529.6 <span class=\"_ _b\"> </span>483.3 <span class=\"_ _b\"> </span>166.6 <span class=\"_ _147\"> </span>167<span class=\"_ _8\"/>.5 <span class=\"_ _1a\"> </span>31<span class=\"_ _3\"/>.4 <span class=\"_ _21c\"> </span>33.3 <span class=\"_ _90\"> </span>317<span class=\"_ _1\"/>.7 <span class=\"_ _b\"> </span>358.6 <span class=\"_ _17\"> </span>- 1.9 <span class=\"_ _143\"> </span>- 0.9 <span class=\"_ _192\"> </span>1,132.8 <span class=\"_ _28\"> </span>1,1<span class=\"_ _9\"/>13.2 <span class=\"_ _232\"> </span><span class=\"ff19\">639.7 <span class=\"_ _b\"> </span>643.2 <span class=\"_ _232\"> </span>493.1 <span class=\"_ _b\"> </span>470.0 </span>Depreciation and amortization <span class=\"_ _19c\"> </span>- 28.8 <span class=\"_ _147\"> </span>- 20.4 <span class=\"_ _10a\"> </span>- 1<span class=\"_ _7\"/>95.3 <span class=\"_ _10a\"> </span>- 1<span class=\"_ _3\"/>58.7 <span class=\"_ _8f\"> </span>- 41<span class=\"_ _9\"/>.2 <span class=\"_ _147\"> </span>- 49.4 <span class=\"_ _8e\"> </span>- 1<span class=\"_ _7\"/>3.2 <span class=\"_ _8e\"> </span>- 1<span class=\"_ _7\"/>3.2 <span class=\"_ _147\"> </span>- 80.5 <span class=\"_ _8f\"> </span>- 91<span class=\"_ _9\"/>.4 <span class=\"_ _d2\"> </span>\u2013 <span class=\"_ _d2\"> </span>\u2013 <span class=\"_ _10b\"> </span>- 359.0 <span class=\"_ _1dc\"> </span>- 333.1 <span class=\"_ _10a\"> </span><span class=\"ff41\">- 1<span class=\"_ _7\"/>89.1 <span class=\"_ _37\"> </span>- 1<span class=\"_ _7\"/>87<span class=\"_ _1\"/>.1 <span class=\"_ _10a\"> </span>- 1<span class=\"_ _7\"/>69.9 <span class=\"_ _10a\"> </span>- 1<span class=\"_ _3\"/>46.0 </span>Impairment <span class=\"_ _1a6\"> </span>\u2013 <span class=\"_ _9d\"> </span>- 9.7 <span class=\"_ _d2\"> </span>\u2013 <span class=\"_ _9d\"> </span>- 2.1 <span class=\"_ _d2\"> </span>\u2013 <span class=\"_ _19\"> </span>- 0.5 <span class=\"_ _d2\"> </span>\u2013 <span class=\"_ _d2\"> </span>\u2013 <span class=\"_ _147\"> </span>- 80.9 <span class=\"_ _147\"> </span>- 29.0 <span class=\"_ _d2\"> </span>\u2013 <span class=\"_ _d2\"> </span>\u2013 <span class=\"_ _90\"> </span>- 80.9 <span class=\"_ _8f\"> </span>- 41<span class=\"_ _9\"/>.3 <span class=\"_ _16\"> </span><span class=\"ff41\">1<span class=\"_ _9\"/>1<span class=\"_ _9\"/>.6 <span class=\"_ _8f\"> </span>- 41<span class=\"_ _9\"/>.2 <span class=\"_ _147\"> </span>- 92.5 <span class=\"_ _9d\"> </span>- 0.1 </span>Operating pr<span class=\"_ _7\"/>ofit (EBIT) 60.6 <span class=\"_ _21c\"> </span>41.3 <span class=\"_ _b\"> </span>334.3 <span class=\"_ _b\"> </span>322.5 <span class=\"_ _b\"> </span>125.4 <span class=\"_ _8f\"> </span>1<span class=\"_ _9\"/>17<span class=\"_ _1\"/>.6 <span class=\"_ _21c\"> </span>18.2 <span class=\"_ _17\"> </span>20.1 <span class=\"_ _b\"> </span>156.3 <span class=\"_ _b\"> </span>238.2 <span class=\"_ _17\"> </span>- 1.9 <span class=\"_ _143\"> </span>- 0.9 <span class=\"_ _b\"> </span>692.9 <span class=\"_ _232\"> </span>738.8 <span class=\"_ _b\"> </span><span class=\"ff19\">462.2 <span class=\"_ _232\"> </span>414.9 <span class=\"_ _b\"> </span>230.7 <span class=\"_ _b\"> </span>323.9 </span>Net finance costs <span class=\"_ _258\"> </span>- 1<span class=\"_ _3\"/>7<span class=\"_ _1\"/>.1 <span class=\"_ _8e\"> </span>- 1<span class=\"_ _7\"/>2.9 <span class=\"_ _147\"> </span>- 78.7 <span class=\"_ _142\"> </span>- 47<span class=\"_ _1\"/>.6 <span class=\"_ _8e\"> </span>- 1<span class=\"_ _7\"/>0.2 <span class=\"_ _9d\"> </span>- 9.1 <span class=\"_ _19\"> </span>- 4.9 <span class=\"_ _9d\"> </span>- 5.6 <span class=\"_ _90\"> </span>- 70.2 <span class=\"_ _147\"> </span>- 65.5 <span class=\"_ _d2\"> </span>\u2013 <span class=\"_ _d2\"> </span>\u2013 <span class=\"_ _fe\"> </span>- 181<span class=\"_ _9\"/>.1 <span class=\"_ _1dc\"> </span>- 140.7 <span class=\"_ _147\"> </span><span class=\"ff41\">- 78.4 <span class=\"_ _147\"> </span>- 52.3 <span class=\"_ _10a\"> </span>- 1<span class=\"_ _3\"/>02.7 <span class=\"_ _147\"> </span>- 88.4 </span>Income tax <span class=\"_ _28a\"> </span>- 0.1 <span class=\"_ _9d\"> </span>- 0.2 <span class=\"_ _289\"> </span>- 1<span class=\"_ _3\"/>0.1 <span class=\"_ _147\"> </span>- 20.8 <span class=\"_ _90\"> </span>- 25.3 <span class=\"_ _90\"> </span>- 16.6 <span class=\"_ _9d\"> </span>- 2.4 <span class=\"_ _9d\"> </span>- 2.7 <span class=\"_ _147\"> </span>- 34.9 <span class=\"_ _90\"> </span>- 62.1 <span class=\"_ _d2\"> </span>\u2013 <span class=\"_ _d2\"> </span>\u2013 <span class=\"_ _147\"> </span>- 72.8 <span class=\"_ _27a\"> </span>- 1<span class=\"_ _9\"/>02.4 <span class=\"_ _90\"> </span><span class=\"ff41\">- 72.0 <span class=\"_ _147\"> </span>- 78.5 <span class=\"_ _19\"> </span>- 0.8 <span class=\"_ _147\"> </span>- 23.9 </span>Net profit 43.4 <span class=\"_ _17\"> </span>28.2 <span class=\"_ _b\"> </span>245.5 <span class=\"_ _232\"> </span>254.1 <span class=\"_ _17\"> </span>89.9 <span class=\"_ _1a\"> </span>91<span class=\"_ _3\"/>.9 <span class=\"_ _1a\"> </span>1<span class=\"_ _7\"/>0.9 <span class=\"_ _19\"> </span>1<span class=\"_ _9\"/>1<span class=\"_ _7\"/>.8 <span class=\"_ _1a\"> </span>51<span class=\"_ _3\"/>.2 <span class=\"_ _147\"> </span>1<span class=\"_ _3\"/>1<span class=\"_ _3\"/>0.6 <span class=\"_ _21c\"> </span>- 1<span class=\"_ _3\"/>.9 <span class=\"_ _120\"> </span>- 0.9 <span class=\"_ _232\"> </span>439.0 <span class=\"_ _b\"> </span>495.7 <span class=\"_ _147\"> </span><span class=\"ff19\">31<span class=\"_ _9\"/>1.8 <span class=\"_ _b\"> </span>284.1 <span class=\"_ _147\"> </span>127<span class=\"_ _1\"/>.2 <span class=\"_ _147\"> </span>21<span class=\"_ _9\"/>1.6 </span>Other comprehensive income <span class=\"_ _88\"> </span>42.8 <span class=\"_ _b2\"> </span>- 7<span class=\"_ _1\"/>.4 <span class=\"_ _b2\"> </span>87<span class=\"_ _8\"/>.1 <span class=\"_ _9d\"> </span>44.2 <span class=\"_ _d2\"> </span>\u2013 <span class=\"_ _d2\"> </span>\u2013 <span class=\"_ _d2\"> </span>\u2013 <span class=\"_ _d2\"> </span>\u2013 <span class=\"_ _19\"> </span>46.5 <span class=\"_ _9d\"> </span>22.9 <span class=\"_ _d2\"> </span>\u2013 <span class=\"_ _d2\"> </span>\u2013 <span class=\"_ _8f\"> </span>1<span class=\"_ _7\"/>7<span class=\"_ _3\"/>6.4 <span class=\"_ _19\"> </span>59.7 <span class=\"_ _9d\"> </span><span class=\"ff41\">93.5 <span class=\"_ _1b\"> </span>1<span class=\"_ _7\"/>9.9 <span class=\"_ _9d\"> </span>82.9 <span class=\"_ _19\"> </span>39.8 </span>T<span class=\"_ _8\"/>otal comprehensiv<span class=\"_ _7\"/>e income <span class=\"_ _83\"> </span><span class=\"fc0\">86.2 <span class=\"_ _17\"> </span></span>20.8 <span class=\"_ _b\"> </span><span class=\"fc0\">332.6 <span class=\"_ _b\"> </span></span>298.3 <span class=\"_ _21c\"> </span><span class=\"fc0\">89.9 <span class=\"_ _21c\"> </span></span>91<span class=\"_ _7\"/>.9 <span class=\"_ _1a\"> </span>1<span class=\"_ _3\"/>0.9 <span class=\"_ _19\"> </span>1<span class=\"_ _3\"/>1<span class=\"_ _7\"/>.8 <span class=\"_ _19\"> </span>97<span class=\"_ _8\"/>.7 <span class=\"_ _b\"> </span><span class=\"fcb\">133.5 <span class=\"_ _17\"> </span></span>- 1.9 <span class=\"_ _143\"> </span><span class=\"fcb\">- 0.9 <span class=\"_ _b\"> </span></span>615.4 <span class=\"_ _232\"> </span><span class=\"fcb\">555.4 <span class=\"_ _b\"> </span></span><span class=\"ff19\">405.3 <span class=\"_ _232\"> </span><span class=\"fcb\">304.0 <span class=\"_ _13c\"> </span></span>21<span class=\"_ _3\"/>0.1 <span class=\"_ _13c\"> </span><span class=\"fcb\">251<span class=\"_ _7\"/>.4 </span></span>V<span class=\"_ _3\"/>opak's share of net profit <span class=\"_ _1ad\"> </span>1<span class=\"_ _3\"/>4.5 <span class=\"_ _3a\"> </span>7<span class=\"_ _8\"/>.2 <span class=\"_ _9d\"> </span>79.0 <span class=\"_ _19\"> </span>86.1 <span class=\"_ _9d\"> </span>40.2 <span class=\"_ _19\"> </span>38.9 <span class=\"_ _22c\"> </span>3.0 <span class=\"_ _155\"> </span>4.0 <span class=\"_ _9d\"> </span>26.5 <span class=\"_ _19\"> </span>36.5 <span class=\"_ _9d\"> </span>- 0.9 <span class=\"_ _19\"> </span>- 0.4 <span class=\"_ _90\"> </span>162.3 <span class=\"_ _90\"> </span>1<span class=\"_ _7\"/>72.3 <span class=\"_ _8e\"> </span><span class=\"ff41\">1<span class=\"_ _7\"/>43.0 <span class=\"_ _8f\"> </span>1<span class=\"_ _9\"/>13.1 <span class=\"_ _19\"> </span>1<span class=\"_ _7\"/>9.3 <span class=\"_ _19\"> </span>59.2 </span>V<span class=\"_ _3\"/>opak's share of other comprehensive income <span class=\"_ _5c\"> </span>21<span class=\"_ _8\"/>.4 <span class=\"_ _19\"> </span>- 3.7 <span class=\"_ _9d\"> </span>24.0 <span class=\"_ _1b\"> </span>1<span class=\"_ _7\"/>2.5 <span class=\"_ _d2\"> </span>\u2013 <span class=\"_ _d2\"> </span>\u2013 <span class=\"_ _d2\"> </span>\u2013 <span class=\"_ _d2\"> </span>\u2013 <span class=\"_ _9d\"> </span>23.2 <span class=\"_ _11\"> </span>1<span class=\"_ _9\"/>1<span class=\"_ _9\"/>.4 <span class=\"_ _d2\"> </span>\u2013 <span class=\"_ _d2\"> </span>\u2013 <span class=\"_ _9d\"> </span>68.6 <span class=\"_ _19\"> </span>20.2 <span class=\"_ _9d\"> </span><span class=\"ff41\">46.6 <span class=\"_ _155\"> </span>9.7 <span class=\"_ _9d\"> </span>22.0 <span class=\"_ _1b\"> </span>1<span class=\"_ _7\"/>0.5 </span>V<span class=\"_ _9\"/>opak's share of total comprehensiv<span class=\"_ _7\"/>e income <span class=\"_ _173\"> </span><span class=\"fc0\">35.9 <span class=\"_ _60\"> </span></span>3.5 <span class=\"_ _232\"> </span><span class=\"fc0\">103.0 <span class=\"_ _120\"> </span></span>98.6 <span class=\"_ _17\"> </span><span class=\"fc0\">40.2 <span class=\"_ _21c\"> </span></span>38.9 <span class=\"_ _60\"> </span><span class=\"fc0\">3.0 <span class=\"_ _60\"> </span></span>4.0 <span class=\"_ _17\"> </span><span class=\"fc0\">49.7 <span class=\"_ _19\"> </span></span>47<span class=\"_ _8\"/>.9 <span class=\"_ _120\"> </span><span class=\"fc0\">- 0.9 <span class=\"_ _120\"> </span></span>- 0.4 <span class=\"_ _b\"> </span><span class=\"fc0\">230.9 <span class=\"_ _232\"> </span></span>192.5 <span class=\"_ _232\"> </span><span class=\"ff19 fc0\">189.6 <span class=\"_ _b\"> </span><span class=\"fcb\">122.8 <span class=\"_ _21c\"> </span></span>41.3 <span class=\"_ _120\"> </span><span class=\"fcb\">69.7 </span></span>2022 In Marc<span class=\"_ _3\"/>h 2020, a fire incident took place in the adjacent RAPID facility<span class=\"_ _3\"/>, leading to a subsequent closure of the facility<span class=\"_ _3\"/>. One of PT2SB\u2019<span class=\"_ _9\"/>s anc<span class=\"_ _7\"/>hor customers has since been out of operation. F<span class=\"_ _7\"/>ollowing another incident in 2022, the refinery is only expected to resume first half of 2023. <span class=\"_ _9\"/>T<span class=\"_ _7\"/>he refiner<span class=\"_ _5\"/>y closure weak<span class=\"_ _7\"/>ened its liquidit<span class=\"_ _5\"/>y position whic<span class=\"_ _3\"/>h may impact PT2SB\u2019<span class=\"_ _9\"/>s financial performance in 2023. <span class=\"_ _7\"/>As at 31 December 2022, PT2SB<span class=\"_ _7\"/>, classified as an associate, has reported net accounts receivable balances f<span class=\"_ _7\"/>or contractually deliv<span class=\"_ _7\"/>ered ser<span class=\"_ _5\"/>vices of around EUR 1<span class=\"_ _3\"/>73 million (31 December 2021: EUR 88 million) (on a 1<span class=\"_ _3\"/>00% basis). Mitigating the situation is a priority for PT2SB and its shareholders. 2021 In the third quarter of 2021, an ex<span class=\"_ _7\"/>ceptional gain of EUR 2.2 million was recogniz<span class=\"_ _7\"/>ed in the result of joint vent<span class=\"_ _7\"/>ures and associates relating to a partial release of a tax provision that was recognized in a joint v<span class=\"_ _7\"/>enture terminal within the <span class=\"_ _3\"/>Asia &amp; Middle East division at the end of 20<span class=\"_ _3\"/>1<span class=\"_ _3\"/>9. F<span class=\"_ _7\"/>or more information on the impairments recogniz<span class=\"_ _7\"/>ed on the inv<span class=\"_ _7\"/>estments in joint vent<span class=\"_ _7\"/>ures and associates, ref<span class=\"_ _7\"/>erence is made to note 3.8. Summar<span class=\"_ _3\"/>ized statement of financial position at 31 December T<span class=\"_ _8\"/>otal joint Asia &amp;   China &amp; New Energ<span class=\"_ _7\"/>y vent<span class=\"_ _7\"/>ures and of whic<span class=\"_ _7\"/>h  joint of whic<span class=\"_ _7\"/>h  Amer<span class=\"_ _7\"/>icas Middle East North Asia <span class=\"_ _26\"> </span>Europe <span class=\"_ _5\"/>&amp; Africa &amp; LNG <span class=\"_ _1bb\"> </span>Other associates vent<span class=\"_ _7\"/>ures associates In EUR millions <span class=\"_ _19e\"> </span>2022 <span class=\"_ _289\"> </span><span class=\"fc7\">2021 <span class=\"_ _289\"> </span></span>2022 <span class=\"_ _289\"> </span><span class=\"fc7\">2021 <span class=\"_ _8f\"> </span></span>2022 <span class=\"_ _289\"> </span><span class=\"fc7\">2021 <span class=\"_ _289\"> </span></span>2022 <span class=\"_ _289\"> </span><span class=\"fc7\">2021 <span class=\"_ _8f\"> </span></span>2022 <span class=\"_ _289\"> </span><span class=\"fc7\">2021 <span class=\"_ _289\"> </span></span>2022 <span class=\"_ _289\"> </span><span class=\"fc7\">2021 <span class=\"_ _8f\"> </span></span>2022 <span class=\"_ _289\"> </span><span class=\"fc7\">2021 <span class=\"_ _289\"> </span></span>2022 <span class=\"_ _8f\"> </span><span class=\"fc7\">2021 <span class=\"_ _289\"> </span></span>2022 <span class=\"_ _289\"> </span>2021 Non-current assets <span class=\"_ _165\"> </span>1,205.0 <span class=\"_ _e7\"> </span>1,1<span class=\"_ _7\"/>30.6 <span class=\"_ _e7\"> </span>3,555.8 <span class=\"_ _13\"> </span>2,771<span class=\"_ _9\"/>.0 <span class=\"_ _1dc\"> </span>1,1<span class=\"_ _3\"/>0<span class=\"_ _3\"/>1<span class=\"_ _9\"/>.9 <span class=\"_ _1d\"> </span>1,000.8 <span class=\"_ _90\"> </span>205.4 <span class=\"_ _147\"> </span>209.9 <span class=\"_ _e7\"> </span>1,858.2 <span class=\"_ _e7\"> </span>1,984.8 <span class=\"_ _22c\"> </span>0.5 <span class=\"_ _155\"> </span>0.2 <span class=\"_ _12\"> </span>7<span class=\"_ _8\"/>,926.8 <span class=\"_ _27a\"> </span>7<span class=\"_ _1\"/>,097<span class=\"_ _1\"/>.3 <span class=\"_ _e7\"> </span><span class=\"ff41\">4,683.2 <span class=\"_ _10b\"> </span>3,977<span class=\"_ _1\"/>.2 <span class=\"_ _e7\"> </span>3,243.6 <span class=\"_ _18\"> </span>3,1<span class=\"_ _7\"/>20.1 </span>Cash and cash equivalents <span class=\"_ _161\"> </span>1<span class=\"_ _9\"/>7<span class=\"_ _8\"/>.2 <span class=\"_ _19\"> </span>18.6 <span class=\"_ _147\"> </span>388.0 <span class=\"_ _90\"> </span>319.2 <span class=\"_ _8f\"> </span>1<span class=\"_ _7\"/>91<span class=\"_ _9\"/>.9 <span class=\"_ _90\"> </span>146.2 <span class=\"_ _19\"> </span>1<span class=\"_ _7\"/>0.7 <span class=\"_ _1b\"> </span>1<span class=\"_ _7\"/>0.6 <span class=\"_ _90\"> </span>163.4 <span class=\"_ _90\"> </span>1<span class=\"_ _7\"/>39.4 <span class=\"_ _22c\"> </span>0.5 <span class=\"_ _aa\"> </span>1<span class=\"_ _9\"/>.0 <span class=\"_ _8f\"> </span>771<span class=\"_ _8\"/>.7 <span class=\"_ _90\"> </span>635.0 <span class=\"_ _147\"> </span><span class=\"ff41\">366.7 <span class=\"_ _147\"> </span>308.4 <span class=\"_ _90\"> </span>405.0 <span class=\"_ _147\"> </span>326.6 </span>Other current assets <span class=\"_ _135\"> </span>57<span class=\"_ _d\"/>.9 <span class=\"_ _19\"> </span>50.2 <span class=\"_ _90\"> </span>194.9 <span class=\"_ _147\"> </span>222.8 <span class=\"_ _9d\"> </span>48.9 <span class=\"_ _14\"> </span>51<span class=\"_ _9\"/>.1 <span class=\"_ _1b\"> </span>1<span class=\"_ _3\"/>0.0 <span class=\"_ _11\"> </span>1<span class=\"_ _7\"/>7<span class=\"_ _1\"/>.3 <span class=\"_ _9d\"> </span>85.2 <span class=\"_ _289\"> </span>1<span class=\"_ _3\"/>04.1 <span class=\"_ _155\"> </span>0.6 <span class=\"_ _22c\"> </span>0.9 <span class=\"_ _116\"> </span>397<span class=\"_ _1\"/>.5 <span class=\"_ _90\"> </span>446.4 <span class=\"_ _8e\"> </span><span class=\"ff41\">1<span class=\"_ _7\"/>94.1 <span class=\"_ _90\"> </span>169.1 <span class=\"_ _147\"> </span>203.4 <span class=\"_ _116\"> </span>277<span class=\"_ _1\"/>.3 </span>T<span class=\"_ _8\"/>otal assets 1280.1 <span class=\"_ _192\"> </span>1,199.4 <span class=\"_ _192\"> </span>4,138.7 <span class=\"_ _192\"> </span>3,313.0 <span class=\"_ _192\"> </span>1,342.7 <span class=\"_ _192\"> </span>1,198.1 <span class=\"_ _b\"> </span>226.1 <span class=\"_ _147\"> </span>237<span class=\"_ _8\"/>.8 <span class=\"_ _b3\"> </span>2,1<span class=\"_ _7\"/>06.8 <span class=\"_ _192\"> </span>2,228.3 <span class=\"_ _ad\"> </span>1.6 <span class=\"_ _27\"> </span>2.1 <span class=\"_ _192\"> </span>9,096.0 <span class=\"_ _b3\"> </span>8,1<span class=\"_ _7\"/>78.7 <span class=\"_ _192\"> </span><span class=\"ff19\">5,244.0 <span class=\"_ _192\"> </span>4,454.7 <span class=\"_ _192\"> </span>3,852.0 <span class=\"_ _192\"> </span>3,724.0 </span>Financial non-current liabilities <span class=\"_ _1b2\"> </span>386.7 <span class=\"_ _147\"> </span>363.1 <span class=\"_ _e7\"> </span>1,539.4 <span class=\"_ _15\"> </span>1,47<span class=\"_ _3\"/>6.0 <span class=\"_ _147\"> </span>322.2 <span class=\"_ _8e\"> </span>319.2 <span class=\"_ _147\"> </span>136.0 <span class=\"_ _90\"> </span>1<span class=\"_ _7\"/>49.6 <span class=\"_ _147\"> </span>922.3 <span class=\"_ _90\"> </span>989.3 <span class=\"_ _d2\"> </span>\u2013 <span class=\"_ _d2\"> </span>\u2013 <span class=\"_ _e7\"> </span>3,306.6 <span class=\"_ _12\"> </span>3,297<span class=\"_ _1\"/>.2 <span class=\"_ _e7\"> </span><span class=\"ff41\">1,583.1 <span class=\"_ _e7\"> </span>1,470.7 <span class=\"_ _e7\"> </span>1,723.5 <span class=\"_ _e7\"> </span>1,826.5 </span>Other non-current liabilities <span class=\"_ _161\"> </span>2.3 <span class=\"_ _155\"> </span>9.1 <span class=\"_ _8e\"> </span>1<span class=\"_ _3\"/>08.5 <span class=\"_ _8e\"> </span>154.2 <span class=\"_ _9d\"> </span>28.6 <span class=\"_ _9d\"> </span>25.5 <span class=\"_ _1b\"> </span>1<span class=\"_ _7\"/>2.7 <span class=\"_ _1b\"> </span>1<span class=\"_ _7\"/>3.8 <span class=\"_ _90\"> </span>183.0 <span class=\"_ _147\"> </span>250.8 <span class=\"_ _d2\"> </span>\u2013 <span class=\"_ _d2\"> </span>\u2013 <span class=\"_ _147\"> </span>335.1 <span class=\"_ _147\"> </span>453.4 <span class=\"_ _8e\"> </span><span class=\"ff41\">1<span class=\"_ _7\"/>36.7 <span class=\"_ _147\"> </span>205.4 <span class=\"_ _8e\"> </span>1<span class=\"_ _7\"/>98.4 <span class=\"_ _147\"> </span>248.0 </span>Financial current liabilities <span class=\"_ _f6\"> </span>1<span class=\"_ _7\"/>4.2 <span class=\"_ _19\"> </span>16.6 <span class=\"_ _147\"> </span>484.4 <span class=\"_ _90\"> </span>164.4 <span class=\"_ _233\"> </span>31<span class=\"_ _9\"/>.8 <span class=\"_ _19\"> </span>12.9 <span class=\"_ _19\"> </span>1<span class=\"_ _7\"/>5.6 <span class=\"_ _11\"> </span>1<span class=\"_ _3\"/>7<span class=\"_ _1\"/>.6 <span class=\"_ _8e\"> </span>138.6 <span class=\"_ _90\"> </span>1<span class=\"_ _7\"/>25.6 <span class=\"_ _d2\"> </span>\u2013 <span class=\"_ _d2\"> </span>\u2013 <span class=\"_ _147\"> </span>684.6 <span class=\"_ _116\"> </span>337<span class=\"_ _8\"/>.1 <span class=\"_ _8f\"> </span><span class=\"ff41\">461<span class=\"_ _8\"/>.3 <span class=\"_ _8e\"> </span>150.0 <span class=\"_ _147\"> </span>223.3 <span class=\"_ _116\"> </span>187<span class=\"_ _1\"/>.1 </span>Other current liabilities <span class=\"_ _166\"> </span>46.5 <span class=\"_ _16\"> </span>47<span class=\"_ _1\"/>.8 <span class=\"_ _8e\"> </span>21<span class=\"_ _7\"/>3.4 <span class=\"_ _8e\"> </span>1<span class=\"_ _3\"/>70.6 <span class=\"_ _8e\"> </span>139.1 <span class=\"_ _9d\"> </span>92.9 <span class=\"_ _9d\"> </span>20.5 <span class=\"_ _1b\"> </span>1<span class=\"_ _7\"/>3.9 <span class=\"_ _9d\"> </span>75.7 <span class=\"_ _19\"> </span>62.6 <span class=\"_ _156\"> </span>1<span class=\"_ _9\"/>.0 <span class=\"_ _155\"> </span>0.2 <span class=\"_ _147\"> </span>496.2 <span class=\"_ _147\"> </span>388.0 <span class=\"_ _116\"> </span><span class=\"ff41\">277<span class=\"_ _1\"/>.7 <span class=\"_ _90\"> </span>234.2 <span class=\"_ _90\"> </span>218.5 <span class=\"_ _90\"> </span>1<span class=\"_ _7\"/>53.8 </span>T<span class=\"_ _8\"/>otal liabilities 449.7 <span class=\"_ _b\"> </span>436.6 <span class=\"_ _192\"> </span>2,345.7 <span class=\"_ _192\"> </span>1,965.2 <span class=\"_ _13c\"> </span>521<span class=\"_ _7\"/>.7 <span class=\"_ _b\"> </span>450.5 <span class=\"_ _232\"> </span>184.8 <span class=\"_ _232\"> </span>194.9 <span class=\"_ _192\"> </span>1,319.6 <span class=\"_ _117\"> </span>1,428.3 <span class=\"_ _ad\"> </span>1.0 <span class=\"_ _27\"> </span>0.2 <span class=\"_ _192\"> </span>4,822.5 <span class=\"_ _192\"> </span>4,475.7 <span class=\"_ _192\"> </span><span class=\"ff19\">2,458.8 <span class=\"_ _192\"> </span>2,060.3 <span class=\"_ _192\"> </span>2,363.7 <span class=\"_ _192\"> </span>2,415.4 </span>Net assets <span class=\"_ _28a\"> </span><span class=\"fc0\">830.4 <span class=\"_ _232\"> </span></span>762.8 <span class=\"_ _117\"> </span><span class=\"fc0\">1,793.0 <span class=\"_ _1d\"> </span></span>1,347<span class=\"_ _1\"/>.8 <span class=\"_ _13c\"> </span><span class=\"fc0\">821.0 <span class=\"_ _90\"> </span></span>7<span class=\"_ _3\"/>47<span class=\"_ _8\"/>.6 <span class=\"_ _1a\"> </span>41<span class=\"_ _7\"/>.3 <span class=\"_ _17\"> </span><span class=\"fcb\">42.9 <span class=\"_ _147\"> </span></span>787<span class=\"_ _8\"/>.2 <span class=\"_ _b\"> </span><span class=\"fcb\">80<span class=\"_ _5\"/>0.0 <span class=\"_ _60\"> </span></span>0.6 <span class=\"_ _ad\"> </span>1<span class=\"_ _3\"/>.9 <span class=\"_ _192\"> </span><span class=\"fc0\">4,273.5 <span class=\"_ _192\"> </span></span>3,703.0 <span class=\"_ _192\"> </span><span class=\"ff19 fc0\">2,785.2 <span class=\"_ _192\"> </span><span class=\"fcb\">2,394.4 <span class=\"_ _192\"> </span></span>1,488.3 <span class=\"_ _192\"> </span><span class=\"fcb\">1,308.6 </span></span>V<span class=\"_ _3\"/>opak's share of net assets <span class=\"_ _81\"> </span>289.0 <span class=\"_ _142\"> </span>257<span class=\"_ _1\"/>.9 <span class=\"_ _147\"> </span>623.4 <span class=\"_ _8f\"> </span>481<span class=\"_ _9\"/>.1 <span class=\"_ _147\"> </span>360.3 <span class=\"_ _147\"> </span>336.5 <span class=\"_ _1b\"> </span>1<span class=\"_ _7\"/>9.1 <span class=\"_ _9d\"> </span>20.0 <span class=\"_ _90\"> </span>405.4 <span class=\"_ _147\"> </span>408.7 <span class=\"_ _155\"> </span>0.2 <span class=\"_ _22c\"> </span>0.9 <span class=\"_ _10b\"> </span>1,697<span class=\"_ _d\"/>.4 <span class=\"_ _e7\"> </span>1,505.1 <span class=\"_ _e7\"> </span><span class=\"ff41\">1,273.1 <span class=\"_ _e7\"> </span>1,098.2 <span class=\"_ _147\"> </span>424.3 <span class=\"_ _147\"> </span>406.9 </span>Goodwill on acquisition <span class=\"_ _16d\"> </span>36.6 <span class=\"_ _19\"> </span>34.4 <span class=\"_ _8e\"> </span>1<span class=\"_ _7\"/>05.4 <span class=\"_ _22c\"> </span>5.5 <span class=\"_ _155\"> </span>6.7 <span class=\"_ _22c\"> </span>6.9 <span class=\"_ _d2\"> </span>\u2013 <span class=\"_ _d2\"> </span>\u2013 <span class=\"_ _14\"> </span>31<span class=\"_ _9\"/>.7 <span class=\"_ _14\"> </span>31<span class=\"_ _9\"/>.4 <span class=\"_ _d2\"> </span>\u2013 <span class=\"_ _d2\"> </span>\u2013 <span class=\"_ _90\"> </span>180.4 <span class=\"_ _9d\"> </span>78.2 <span class=\"_ _90\"> </span><span class=\"ff41\">163.4 <span class=\"_ _b2\"> </span>67<span class=\"_ _d\"/>.3 <span class=\"_ _11\"> </span>1<span class=\"_ _7\"/>7<span class=\"_ _1\"/>.0 <span class=\"_ _1b\"> </span>1<span class=\"_ _7\"/>0.9 </span>V<span class=\"_ _9\"/>opak's carrying amount   of net assets <span class=\"_ _18c\"> </span><span class=\"fc0\">325.6 <span class=\"_ _232\"> </span></span>292.3 <span class=\"_ _b\"> </span><span class=\"fc0\">728.8 <span class=\"_ _232\"> </span></span>486.6 <span class=\"_ _147\"> </span>367<span class=\"_ _8\"/>.0 <span class=\"_ _b\"> </span><span class=\"fcb\">343.4 <span class=\"_ _21c\"> </span></span>19.1 <span class=\"_ _17\"> </span><span class=\"fcb\">20.0 <span class=\"_ _147\"> </span></span>437<span class=\"_ _8\"/>.1 <span class=\"_ _b\"> </span><span class=\"fcb\">440.1 <span class=\"_ _60\"> </span></span>0.2 <span class=\"_ _60\"> </span><span class=\"fcb\">0.9 <span class=\"_ _1d\"> </span></span>1,877<span class=\"_ _1\"/>.8 <span class=\"_ _192\"> </span><span class=\"fcb\">1,583.3 <span class=\"_ _192\"> </span></span><span class=\"ff19\">1,436.5 <span class=\"_ _192\"> </span><span class=\"fcb\">1,165.5 <span class=\"_ _13c\"> </span></span>441.3 <span class=\"_ _147\"> </span><span class=\"fcb\">417<span class=\"_ _1\"/>.8 </span></span>2022 Af<span class=\"_ _3\"/>ter completion of the purchase price allocation f<span class=\"_ _3\"/>or the A<span class=\"_ _7\"/>egis <span class=\"_ _3\"/>V<span class=\"_ _3\"/>opak <span class=\"_ _9\"/>T<span class=\"_ _8\"/>erminals Ltd. classified as a joint vent<span class=\"_ _7\"/>ure and Hindustan A<span class=\"_ _3\"/>egis LPG Ltd. classified as an associate, the respective provisionally determined goodwill balances amount to EUR 93.5 million and EUR 6.1 million. 2021 Af<span class=\"_ _3\"/>ter completion of the purchase price allocation f<span class=\"_ _3\"/>or the <span class=\"_ _3\"/>V<span class=\"_ _3\"/>opak Industrial Infrastructure Americas (VIIA) joint vent<span class=\"_ _7\"/>ure in the fourth quarter of 2021, the confirmed goodwill balance amounts to EUR 34.4 million. Contingent assets and liabilities The joint v<span class=\"_ _7\"/>entures and associates of the Group are cur<span class=\"_ _7\"/>rently<span class=\"_ _3\"/>, and may from time to time become, inv<span class=\"_ _7\"/>olved in a number of legal proceedings, including inquiries from, or discussions with, gov<span class=\"_ _7\"/>ernmental authorities (including t<span class=\"_ _5\"/>ax authorities) that are incidental to their operations. F<span class=\"_ _7\"/>or the contingent liabilities of the joint vent<span class=\"_ _7\"/>ures and associates as at year<span class=\"_ _9\"/>-end related to legal cases, it is based on the current f<span class=\"_ _7\"/>acts and circumst<span class=\"_ _5\"/>ances not believ<span class=\"_ _3\"/>ed that they ma<span class=\"_ _7\"/>y hav<span class=\"_ _7\"/>e a material adverse ef<span class=\"_ _3\"/>fect on the financial position or profitability of the Group. Due to inherent uncertainties, the Group cannot make any accurate quantification of an<span class=\"_ _7\"/>y cost, or timing of suc<span class=\"_ _3\"/>h cost, which ma<span class=\"_ _3\"/>y arise from any of the legal proceedings ref<span class=\"_ _7\"/>erred to in this report, how<span class=\"_ _7\"/>ev<span class=\"_ _7\"/>er costs in complex litigation ma<span class=\"_ _7\"/>y be subst<span class=\"_ _5\"/>antial. F<span class=\"_ _7\"/>or an ov<span class=\"_ _7\"/>er<span class=\"_ _5\"/>view of the commitments and contingent liabilities relating to our joint v<span class=\"_ _7\"/>entures and associates, ref<span class=\"_ _7\"/>erence is made to note 9.8. Joint v<span class=\"_ _7\"/>entur<span class=\"_ _7\"/>es and associates 2022 Ger<span class=\"_ _7\"/>man LNG <span class=\"_ _8\"/>T<span class=\"_ _8\"/>er<span class=\"_ _7\"/>minal in Ger<span class=\"_ _7\"/>man<span class=\"_ _7\"/>y (partial impair<span class=\"_ _3\"/>ment reversal) <span class=\"ff1\"> </span>In the first half year of 2022, as a result of <span class=\"_ _9\"/>V<span class=\"_ _3\"/>opak\u2019<span class=\"_ _9\"/>s divestment of its 33.3% shareholding in the German LNG <span class=\"_ _9\"/>T<span class=\"_ _8\"/>erminal GmbH, in the first half of 2022 an impairment reversal of EUR 3.8 million was recorded. <span class=\"_ _8\"/>This re<span class=\"_ _7\"/>versal partially of<span class=\"_ _3\"/>fsets the impairment of EUR 1<span class=\"_ _3\"/>0.8 million recognized in the third quarter of 2021<span class=\"_ _1\"/>. <span class=\"_ _9\"/>This impairment re<span class=\"_ _7\"/>versal is recorded as part of the Result of joint v<span class=\"_ _7\"/>entures and associates.  SPEC LNG ter<span class=\"_ _3\"/>minal in Colombia (impairment) <span class=\"ff1\"> </span>In the second quarter of 2022, an impairment was recogniz<span class=\"_ _7\"/>ed for the SPEC LNG terminal in Colombia for an amount of EUR 36.2 million. Mainly due to unusual w<span class=\"_ _7\"/>eather conditions in recent years whic<span class=\"_ _3\"/>h hav<span class=\"_ _7\"/>e brought a significant amount of rain in Colombia, hy<span class=\"_ _7\"/>dropow<span class=\"_ _7\"/>er has been av<span class=\"_ _7\"/>ailable as the main source of pow<span class=\"_ _7\"/>er<span class=\"_ _3\"/>, whic<span class=\"_ _7\"/>h resulted in a reduced utilization of the FSRU<span class=\"_ _7\"/>. In addition, the tight FSRU mark<span class=\"_ _7\"/>et associated with the Russia-Ukraine w<span class=\"_ _7\"/>ar is leading to the opportunity to reduce FSRU costs becoming remote. <span class=\"_ _3\"/>As a result of the abov<span class=\"_ _7\"/>e there is a decrease in dividend expectations. <span class=\"_ _9\"/>T<span class=\"_ _7\"/>his impairment is recorded as part of the Result of joint vent<span class=\"_ _7\"/>ures and associates. 2021 Ger<span class=\"_ _7\"/>man LNG <span class=\"_ _8\"/>T<span class=\"_ _8\"/>er<span class=\"_ _7\"/>minal in Ger<span class=\"_ _7\"/>man<span class=\"_ _7\"/>y (impair<span class=\"_ _7\"/>ment<span class=\"ff1\">)   </span>Af<span class=\"_ _3\"/>ter a strategic review<span class=\"_ _9\"/>, <span class=\"_ _3\"/>V<span class=\"_ _3\"/>opak decided to discontinue its active participation in the German LNG project leading to an ex<span class=\"_ _7\"/>ceptional loss of EUR 1<span class=\"_ _3\"/>0.8 million recognized in the third quarter of 2021<span class=\"_ _8\"/>.  LNG T<span class=\"_ _8\"/>er<span class=\"_ _7\"/>minal <span class=\"_ _4\"/>Altamira<span class=\"ws3\"> (impair<span class=\"_ _3\"/>ment)<span class=\"ff1\">   </span></span>Due to a new commercial agreement in place f<span class=\"_ _7\"/>or our LNG <span class=\"_ _9\"/>T<span class=\"_ _8\"/>erminal Altamira in Mexico the major assets in this joint vent<span class=\"_ _7\"/>ure are held under a finance lease arrangement. <span class=\"_ _7\"/>As a result, the carr<span class=\"_ _5\"/>ying amount of the joint v<span class=\"_ _7\"/>enture increased significantly and e<span class=\"_ _7\"/>xceeded its recov<span class=\"_ _3\"/>erable amount resulting in the derecognition of the goodwill balance for an amount of EUR 32.7 million. <span class=\"_ _9\"/>T<span class=\"_ _7\"/>he ov<span class=\"_ _7\"/>erall positive result from this transaction recogniz<span class=\"_ _7\"/>ed in the fourth quarter of 2021 amounts to EUR 2.8 million. Note 9.6 In<span class=\"_ _3\"/>vestments and other financial assets  The group has in<span class=\"_ _7\"/>vestments in the equity of other entities whic<span class=\"_ _3\"/>h do not classify as either a subsidiar<span class=\"_ _5\"/>y<span class=\"_ _3\"/>, joint vent<span class=\"_ _3\"/>ure or associate. <span class=\"_ _9\"/>These in<span class=\"_ _7\"/>vestments primarily concern the inv<span class=\"_ _7\"/>estments in Sabtank in Saudi Arabia, <span class=\"_ _9\"/>V<span class=\"_ _3\"/>opak <span class=\"_ _9\"/>T<span class=\"_ _9\"/>erminal <span class=\"_ _9\"/>V<span class=\"_ _3\"/>enezuela and the investments held b<span class=\"_ _7\"/>y <span class=\"_ _3\"/>V<span class=\"_ _3\"/>opak V<span class=\"_ _3\"/>entures B<span class=\"_ _3\"/>.V<span class=\"_ _9\"/>. <span class=\"_ _8\"/>These inv<span class=\"_ _7\"/>estments in unlisted entities are not held for trading and are considered to be strategic inv<span class=\"_ _7\"/>estments.  A<span class=\"_ _1e\"> </span><span class=\"ff3 fs9\">Accounting policies  </span>The group mak<span class=\"_ _7\"/>es an irrev<span class=\"_ _3\"/>ocable election on an investment-b<span class=\"_ _7\"/>y-in<span class=\"_ _7\"/>vestment basis at the time of initial recognition to measure these inv<span class=\"_ _7\"/>estments either as:  \u2022 <span class=\"_ _19f\"> </span><span class=\"fc1\">Fair v<span class=\"_ _7\"/>alue through profit and loss (FVPL); or  </span>\u2022 <span class=\"_ _19f\"> </span><span class=\"fc1\">Fair v<span class=\"_ _7\"/>alue through Other comprehensive income (FV<span class=\"_ _3\"/>OCI).  </span>Inv<span class=\"_ _7\"/>estments and other financial assets are measured at fair v<span class=\"_ _7\"/>alue (lev<span class=\"_ _7\"/>el 3). At initial recognition, the Group measures a financial asset at its fair v<span class=\"_ _7\"/>alue. <span class=\"_ _9\"/>T<span class=\"_ _8\"/>ransaction costs of financial assets measured at FVPL are expensed in profit or loss, while these are recogniz<span class=\"_ _7\"/>ed in Other comprehensive income f<span class=\"_ _7\"/>or financial assets measured at FV<span class=\"_ _3\"/>OCI.  The Group subsequently measures all equity inv<span class=\"_ _7\"/>estments at fair v<span class=\"_ _7\"/>alue. <span class=\"_ _3\"/>Where the group\u2019<span class=\"_ _9\"/>s management has elected to present fair v<span class=\"_ _7\"/>alue gains and losses on equity investments in OCI, there is no subsequent reclassification of fair v<span class=\"_ _7\"/>alue gains and losses to profit or loss follo<span class=\"_ _7\"/>wing the derecognition of the inv<span class=\"_ _7\"/>estment. Dividends from suc<span class=\"_ _7\"/>h inv<span class=\"_ _7\"/>estments continue to be recognized in profit or loss as dividend income as part of the Other operating income. Ref<span class=\"_ _3\"/>erence is also made to note 2.4.  At year<span class=\"_ _9\"/>-end 2022, all equity inv<span class=\"_ _7\"/>estments are classified as FV<span class=\"_ _3\"/>OCI.  The total fair v<span class=\"_ _7\"/>alue of the inv<span class=\"_ _7\"/>estments amounted to EUR 94.0 million (2021: EUR 83.6 million) at year<span class=\"_ _9\"/>-end 2022. <span class=\"_ _8\"/>The total dividend income in 2022 from these inv<span class=\"_ _7\"/>estments amounted to EUR 3.0 million (2021: EUR 0.5 million).  INVESTMENTS  Finland  A<span class=\"_ _7\"/>eromon Oy (1<span class=\"_ _3\"/>5.07%)  Ger<span class=\"_ _7\"/>man<span class=\"_ _7\"/>y  Hydrogenious LOHC <span class=\"_ _8\"/>T<span class=\"_ _9\"/>ec<span class=\"_ _3\"/>hnologies GmbH (1<span class=\"_ _3\"/>0.3%)  The Nether<span class=\"_ _7\"/>lands  Elestor B.V<span class=\"_ _1\"/>. (5.18%)    Falc<span class=\"_ _3\"/>ker Holding B<span class=\"_ _7\"/>.V<span class=\"_ _8\"/>. (25.4%)   Harbour Oil B.V<span class=\"_ _1\"/>. (33.3)   Harbour Stone B.V<span class=\"_ _1\"/>. (24.9%)   HyET Energy S<span class=\"_ _3\"/>ystems B.V<span class=\"_ _1\"/>. (1<span class=\"_ _3\"/>0.1%)   HyET Holding B<span class=\"_ _3\"/>.V<span class=\"_ _9\"/>. (5%)   HyET Hy<span class=\"_ _7\"/>drogen B.V<span class=\"_ _1\"/>. (5%)   HyperSoniq B.V<span class=\"_ _1\"/>. (25.5%)   T<span class=\"_ _9\"/>eqpla<span class=\"_ _7\"/>y B.V<span class=\"_ _8\"/>. (24%)   TWTG Group B.V<span class=\"_ _1\"/>. (30%)           Xycle <span class=\"_ _23\"> </span>Europoort <span class=\"_ _24\"> </span>B<span class=\"_ _7\"/>.V<span class=\"_ _8\"/>. <span class=\"_ _24\"> </span>(33.33%) <span class=\"_ _24\"> </span> Saudi Arabia <span class=\"_ _5\"/> SABIC <span class=\"_ _8\"/>T<span class=\"_ _9\"/>erminal Ser<span class=\"_ _5\"/>vices Company Ltd. / Sabtank (1<span class=\"_ _9\"/>0%)  Singapor<span class=\"_ _3\"/>e  P<span class=\"_ _3\"/>erformance Rotors Pte. Ltd. (20%)  United Kingdom  Adv<span class=\"_ _7\"/>anced 3D Laser Solutions Limited (25%)  United Stat<span class=\"_ _7\"/>es  Aquacy<span class=\"_ _7\"/>cl Inc. (1<span class=\"_ _3\"/>5%)   Data.world Inc. (2.1<span class=\"_ _3\"/>7%)  V<span class=\"_ _9\"/>enezuela  V<span class=\"_ _3\"/>opak <span class=\"_ _9\"/>V<span class=\"_ _3\"/>enezuela S.A. (1<span class=\"_ _3\"/>00%)  ",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfInterestsInOtherEntitiesExplanatory",
    "language": "en",
    "entity": "scheme:724500UL634GFV1KYF10",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
   }
  },
  "pp-value-57-2": {
   "value": "Note 2.9 Cash flows from operating activities (gross) In EUR millions  Note  2022  2021Net profit  - 137.8  243.2 Adjustments for: - Depreciation and amortization  3.7  339.9  331.8 - Impairment  3.8  448.8  71.0 - Net finance costs  5.6  120.7  106.5 - Income tax  8.1  101.2  60.0 - Movements in other non-current assets  - 8.1  - 6.3 - Movements in other long-term liabilities  0.3  - 1.8 - Movements in provisions excluding deferred taxes  3.8  - 0.4 - Result joint ventures and associates  2.7  - 162.3  - 172.3 - Measurement of equity-settled share-based payment arrangements  5.3  1.4  6.1 - Result on sale of assets held for sale including transaction expenses  3.1  - 19.0  0.7 Total adjustments 826.7  395.3 Realized value adjustments of derivative financial instruments  - 25.8  - 45.0 Movements in other current assets (excluding cash and cash equivalents)  - 17.5  43.8 Movements in other current liabilities (excluding bank overdrafts and dividends)  16.9  - 17.8 Dividends received from joint ventures and associates  3.5  207.7  133.3 Effect of changes in exchange rates on other current assets and liabilities  1.9  - 11.6 Cash flows from operating activities (gross)  872.1  741.2 Realized value adjustments of derivative financial instruments  25.8  45.0 Cash flows from operating activities (gross excluding derivatives)  897.9  786.2 ",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfCashFlowStatementExplanatory",
    "language": "en",
    "entity": "scheme:724500UL634GFV1KYF10",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
   }
  },
  "pp-value-59-2": {
   "value": "Note 3.1 Acquisition and divestment of subsidiaries A Accounting policies Business combinations Acquired businesses are recognized in the Consolidated financial statements from the acquisition date, which is the date when the Group effectively obtains control of the acquired business. Businesses that are divested or wound up are recognized in the Consolidated financial statements until the date of divestment or winding up. Comparative figures are not restated for businesses acquired, divested or wound up.  When the Group obtains control of a business, the acquisition method is applied. The identifiable assets, liabilities and contingent liabilities are measured at fair value at the acquisition date. Identifiable intangible assets are recognized if separable or if they arise fromcontractual or other legal rights. Deferred tax related to fair value adjustments is also recognized. Any excess of the fair value of the consideration transferred, the recognized amount of any non-controlling interests and the fair value of any existing equity interest in the acquired entity over the fair value of identifiable assets, liabilities and contingent liabilities, is recognized as goodwill. When the excess is negative, a bargain purchase gain is recognized in the statement of income at the acquisition date. If parts of the consideration are conditional upon future events (contingent consideration) or satisfaction of agreed terms, these parts are recognized at fair value at the acquisition date. Transaction costs that the Group incurs in connection with the business combination are expensed as incurred under Other operating expenses. Divestments Gains or losses on the divestments or winding-up of subsidiaries, joint ventures or associates are measured as the difference between the consideration received adjusted for directly related divestment or winding-up costs and the carrying amount of the net assets at the time of disposal or winding-up including any carrying amount of allocated goodwill.  Acquisitions and divestments   The table below provides an overview of the results realized as either part of the Other operating income or Other operating expenses on all (step-)acquisitions and divestments completed during the years presented, including joint ventures and associates. Reference is also made to note 2.4 and note 2.6. In EUR millions  2022  2021 Share dilution JCSSC  \u2013  - 0.7 Sale of subsidiaries Canadian terminals  8.5  \u2013 Sale of subsidiary CRL terminal  - 6.0  \u2013 Sale of subsidiaries Agencies  11.3  \u2013 Share  dilution Thai Tank Terminal  5.2  \u2013 Total  19.0  - 0.7 For more information on the cash proceeds, reference is made to the Consolidated Statement of Cash Flows. The results realized on (step-)acquisitions and divestments of subsidiaries are disclosed in the paragraph below. For an overview of the acquisitions and divestments of joint ventures and associates, reference is made to note 3.5. Acquisition of subsidiaries 2021 and 2022 There were no acquisitions of subsidiaries in 2021 and 2022. Divestment of subsidiaries 2022 Divestment Canadian terminals  In May 2022, Vopak completed the earlier announced divestment of its 100% shareholding inVopak Terminals of Canada Inc. and Vopak Terminals of Eastern Canada Inc. The total agreed transaction value including deferred consideration amounted to EUR 129 million. The sale generated net cash proceeds of EUR 64.7 million in 2022. In May 2023, the remaining consideration of EUR 62 million will be received. The recognized exceptional gain was EUR 8.5 million.  Divestment CRL terminal in India  In May 2022, as a result of the loss of control of Vopak\u2019s CRL terminal in Kandla, India, an exceptional  divestment loss of EUR 6.0 million was recorded. The purchase consideration including deferred and contingent components amounted to approximately EUR 39.3 million, with net cash proceeds in the first half of 2022 of EUR 23.6 million. The deferred and contingent components are expected to be received in 2025. Divestment Vopak Agencies business  In December 2022, Vopak completed 100% divestment of Vopak\u2019s shareholding in Agencies B.V. and 50% of its shareholding in Diize B.V. The purchase consideration amounted to EUR 16.4 million was received upon execution of divestment transaction. The recognized exceptional gain was EUR 11.3 million. 2021 There were no divestments of subsidiaries in 2021. ",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfBusinessCombinationsExplanatory",
    "language": "en",
    "entity": "scheme:724500UL634GFV1KYF10",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
   }
  },
  "pp-value-59-4": {
   "value": "Note 3.1 Acquisition and divestment of subsidiaries A Accounting policies Business combinations Acquired businesses are recognized in the Consolidated financial statements from the acquisition date, which is the date when the Group effectively obtains control of the acquired business. Businesses that are divested or wound up are recognized in the Consolidated financial statements until the date of divestment or winding up. Comparative figures are not restated for businesses acquired, divested or wound up.  When the Group obtains control of a business, the acquisition method is applied. The identifiable assets, liabilities and contingent liabilities are measured at fair value at the acquisition date. Identifiable intangible assets are recognized if separable or if they arise fromcontractual or other legal rights. Deferred tax related to fair value adjustments is also recognized. Any excess of the fair value of the consideration transferred, the recognized amount of any non-controlling interests and the fair value of any existing equity interest in the acquired entity over the fair value of identifiable assets, liabilities and contingent liabilities, is recognized as goodwill. When the excess is negative, a bargain purchase gain is recognized in the statement of income at the acquisition date. If parts of the consideration are conditional upon future events (contingent consideration) or satisfaction of agreed terms, these parts are recognized at fair value at the acquisition date. Transaction costs that the Group incurs in connection with the business combination are expensed as incurred under Other operating expenses. Divestments Gains or losses on the divestments or winding-up of subsidiaries, joint ventures or associates are measured as the difference between the consideration received adjusted for directly related divestment or winding-up costs and the carrying amount of the net assets at the time of disposal or winding-up including any carrying amount of allocated goodwill.  ",
   "dimensions": {
    "concept": "ifrs-full:DescriptionOfAccountingPolicyForBusinessCombinationsAndGoodwillExplanatory",
    "language": "en",
    "entity": "scheme:724500UL634GFV1KYF10",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
   }
  },
  "pp-value-59-5": {
   "value": "Note 3.1 Acquisition and divestment of subsidiaries A Accounting policies Business combinations Acquired businesses are recognized in the Consolidated financial statements from the acquisition date, which is the date when the Group effectively obtains control of the acquired business. Businesses that are divested or wound up are recognized in the Consolidated financial statements until the date of divestment or winding up. Comparative figures are not restated for businesses acquired, divested or wound up.  When the Group obtains control of a business, the acquisition method is applied. The identifiable assets, liabilities and contingent liabilities are measured at fair value at the acquisition date. Identifiable intangible assets are recognized if separable or if they arise fromcontractual or other legal rights. Deferred tax related to fair value adjustments is also recognized. Any excess of the fair value of the consideration transferred, the recognized amount of any non-controlling interests and the fair value of any existing equity interest in the acquired entity over the fair value of identifiable assets, liabilities and contingent liabilities, is recognized as goodwill. When the excess is negative, a bargain purchase gain is recognized in the statement of income at the acquisition date. If parts of the consideration are conditional upon future events (contingent consideration) or satisfaction of agreed terms, these parts are recognized at fair value at the acquisition date. Transaction costs that the Group incurs in connection with the business combination are expensed as incurred under Other operating expenses. Divestments Gains or losses on the divestments or winding-up of subsidiaries, joint ventures or associates are measured as the difference between the consideration received adjusted for directly related divestment or winding-up costs and the carrying amount of the net assets at the time of disposal or winding-up including any carrying amount of allocated goodwill.  ",
   "dimensions": {
    "concept": "ifrs-full:DescriptionOfAccountingPolicyForBusinessCombinationsExplanatory",
    "language": "en",
    "entity": "scheme:724500UL634GFV1KYF10",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
   }
  },
  "pp-value-64-2": {
   "value": "Note 3.2 Intangible assets A<span class=\"_ _1e\"> </span><span class=\"ff3 fs9\">Accounting policies </span>Intangible assets include goodwill, internally developed sof<span class=\"_ _3\"/>tware, contractual relationships, concessions and fa<span class=\"_ _7\"/>vorable leases ensuing from business combinations.  In April 2021, the IFR<span class=\"_ _7\"/>S interpretation commit<span class=\"_ _7\"/>tee published the agenda decision \u2018Configuration or customization costs in a cloud computing arrangement\u2019 whic<span class=\"_ _3\"/>h considers whether an intangible asset can be recognized in relation to configuration or customization of application sof<span class=\"_ _3\"/>t<span class=\"_ _5\"/>ware. <span class=\"_ _9\"/>V<span class=\"_ _3\"/>opak has identified sev<span class=\"_ _7\"/>eral assets that have configuration or customization costs included in the asset\u2019<span class=\"_ _9\"/>s cost base. <span class=\"_ _9\"/>The IFRIC agenda decision sets out the follo<span class=\"_ _7\"/>wing options for accounting f<span class=\"_ _7\"/>or costs incurred for customization of cloud computing arrangements that are considered to f<span class=\"_ _7\"/>ollow ser<span class=\"_ _5\"/>vice contract accounting as follo<span class=\"_ _3\"/>ws: \u2022 <span class=\"_ _19f\"> </span><span class=\"fc1\">If the ser<span class=\"_ _5\"/>vices received are distinct, the costs are recogniz<span class=\"_ _7\"/>ed as an expense when the </span>supplier configures or customizes the application sof<span class=\"_ _3\"/>tware; or \u2022 <span class=\"_ _19f\"> </span><span class=\"fc1\">If the ser<span class=\"_ _5\"/>vices are not distinct, the costs are recognized as an e<span class=\"_ _7\"/>xpense when the supplier </span>provides access to the application sof<span class=\"_ _3\"/>tware ov<span class=\"_ _7\"/>er the contract term; or \u2022 <span class=\"_ _19f\"> </span><span class=\"fc1 ws130\">When a third-party supplier<span class=\"_ _3\"/>, employees or in-house contractors configure or customiz<span class=\"_ _7\"/>e the </span>application sof<span class=\"_ _3\"/>t<span class=\"_ _5\"/>ware, costs are recogniz<span class=\"_ _7\"/>ed as an expense when incurred. \u2022 <span class=\"_ _19f\"> </span><span class=\"fc1\">In limited circumstances, cert<span class=\"_ _5\"/>ain configuration and customization activities under taken in </span>implementing cloud computing arrangements ma<span class=\"_ _7\"/>y give rise to a separate intangible asset. This ma<span class=\"_ _7\"/>y be the case if the arrangement results, for e<span class=\"_ _3\"/>xample in additional software code (for interf<span class=\"_ _7\"/>aces with other sof<span class=\"_ _3\"/>t<span class=\"_ _5\"/>ware applications) from whic<span class=\"_ _3\"/>h the Group has the pow<span class=\"_ _7\"/>er to obtain the future economic benefits and to restrict others<span class=\"_ _7\"/>\u2019 access to those benefits. <span class=\"_ _8\"/>The Group recognizes an intangible asset if the additional code is \u2018identifiable\u2019 and meets the recognition criteria for an intangible asset. Goodwill represents the dif<span class=\"_ _7\"/>f<span class=\"_ _7\"/>erence between the purc<span class=\"_ _3\"/>hase price and <span class=\"_ _3\"/>V<span class=\"_ _3\"/>opak\u2019<span class=\"_ _3\"/>s share in the fair v<span class=\"_ _7\"/>alue of the acquired identifiable assets, liabilities and contingent liabilities of the company acquired at the time <span class=\"_ _9\"/>V<span class=\"_ _3\"/>opak obtains control (acquisition method). Goodwill is carried at cost less accumulated impairments. F<span class=\"_ _7\"/>or the purpose of impairment testing, goodwill acquired in a business combination is allocated to the operating segments (divisions), whic<span class=\"_ _3\"/>h represents the lowest le<span class=\"_ _7\"/>vel within the V<span class=\"_ _3\"/>opak Group at whic<span class=\"_ _3\"/>h the goodwill is monitored for internal management purposes.  Goodwill relating to an associate or joint vent<span class=\"_ _7\"/>ure is included in the carr<span class=\"_ _5\"/>ying amount of the inv<span class=\"_ _7\"/>estment in the associate or joint vent<span class=\"_ _7\"/>ure and is not tested for impairment separately<span class=\"_ _9\"/>, but is part of the impairment testing of the inv<span class=\"_ _7\"/>estment in the  associate or joint vent<span class=\"_ _7\"/>ure. Sof<span class=\"_ _3\"/>t<span class=\"_ _5\"/>ware is carried at historical cost, net of straight-line amortization based on its e<span class=\"_ _3\"/>xpected useful lif<span class=\"_ _7\"/>e and any potential impairment. Other intangible assets are carried at their initial fair v<span class=\"_ _7\"/>alue at the time of the acquisition,   net of straight-line amortization and impairments.     <span class=\"_ _25\"/>Other items are mainly licenses that are carried at historical cost, net of   straight-line amortization.  Mov<span class=\"_ _3\"/>ements in intangible assets Under  develop-In EUR millions <span class=\"_ _25e\"> </span>Note <span class=\"_ _192\"> </span><span class=\"fs7 fc7\">Goodwill <span class=\"_ _b3\"> </span>Sof<span class=\"_ _7\"/>twar<span class=\"_ _7\"/>e <span class=\"_ _147\"> </span>Other </span>ment <span class=\"_ _17\"> </span><span class=\"fc0\">T<span class=\"_ _9\"/>otal </span>Purc<span class=\"_ _3\"/>hase price of operating assets <span class=\"_ _25f\"> </span>38.5 <span class=\"_ _22c\"> </span>130.3 <span class=\"_ _1a2\"> </span>50.5 <span class=\"_ _3a\"> </span>33.5 <span class=\"_ _17\"> </span>252.8 Accumulated amortization and impairment <span class=\"_ _6d\"> </span>\u2013 <span class=\"_ _ad\"> </span>- 85.4 <span class=\"_ _21c\"> </span>- 1<span class=\"_ _7\"/>9.8 <span class=\"_ _d0\"> </span>\u2013 <span class=\"_ _10\"> </span>- 1<span class=\"_ _3\"/>05.2 Car<span class=\"_ _7\"/>rying amount at 31 December 2020 <span class=\"_ _189\"> </span>38.5 <span class=\"_ _76\"> </span>44.9 <span class=\"_ _16\"> </span>30.7 <span class=\"_ _38\"> </span>33.5 <span class=\"_ _120\"> </span><span class=\"fc0\">147<span class=\"_ _8\"/>.6 </span>Mov<span class=\"_ _7\"/>ements: Addition <span class=\"_ _64\"> </span>\u2013 <span class=\"_ _95\"> </span>1<span class=\"_ _8\"/>.4 <span class=\"_ _159\"> </span>\u2013 <span class=\"_ _aa\"> </span>24.0 <span class=\"_ _27\"> </span>25.4 Disposal <span class=\"_ _215\"> </span>\u2013 <span class=\"_ _228\"> </span>\u2013 <span class=\"_ _ce\"> </span>0.1 <span class=\"_ _d0\"> </span>\u2013 <span class=\"_ _ce\"> </span>0.1 Reclassification to held f<span class=\"_ _7\"/>or sale/divestments <span class=\"_ _104\"> </span><span class=\"ff3 fc13\">3.6 <span class=\"_ _39\"> </span></span>- 35.1 <span class=\"_ _19a\"> </span>- 0.1 <span class=\"_ _22c\"> </span>- 1<span class=\"_ _9\"/>.3 <span class=\"_ _3a\"> </span>- 0.8 <span class=\"_ _19\"> </span>- 37<span class=\"_ _1\"/>.3 Reclassification <span class=\"_ _1c7\"> </span>\u2013 <span class=\"_ _bd\"> </span>32.5 <span class=\"_ _95\"> </span>\u2013 <span class=\"_ _b2\"> </span>- 29.4 <span class=\"_ _ce\"> </span>3.1 Amortization <span class=\"_ _195\"> </span><span class=\"ff3 fc13\">3.7 <span class=\"_ _55\"> </span></span>\u2013 <span class=\"_ _155\"> </span>- 1<span class=\"_ _3\"/>6.8 <span class=\"_ _27\"> </span>- 0.8 <span class=\"_ _d0\"> </span>\u2013 <span class=\"_ _233\"> </span>- 1<span class=\"_ _7\"/>7<span class=\"_ _1\"/>.6 Impairment <span class=\"_ _1d0\"> </span><span class=\"ff3 fc13\">3.8 <span class=\"_ _55\"> </span></span>\u2013 <span class=\"_ _bd\"> </span>- 0.3 <span class=\"_ _17\"> </span>- 15.6 <span class=\"_ _d0\"> </span>\u2013 <span class=\"_ _17\"> </span>- 1<span class=\"_ _7\"/>5.9 Exc<span class=\"_ _3\"/>hange diff<span class=\"_ _3\"/>erences <span class=\"_ _260\"> </span>2.8 <span class=\"_ _c9\"> </span>0.3 <span class=\"_ _bd\"> </span>1<span class=\"_ _9\"/>.9 <span class=\"_ _c3\"> </span>0.6 <span class=\"_ _ce\"> </span>5.6 Car<span class=\"_ _7\"/>rying amount at 31 December 2021 <span class=\"_ _81\"> </span>6.2 <span class=\"_ _ce\"> </span>61.9 <span class=\"_ _b2\"> </span>15.0 <span class=\"_ _39\"> </span>27<span class=\"_ _1\"/>.9 <span class=\"_ _1a\"> </span><span class=\"fc0 lsde ws15c\">111<span class=\"_ _5\"/>.<span class=\"_ _4\"/>0<span class=\"_ _4\"/> </span>Purc<span class=\"_ _3\"/>hase price of operating assets <span class=\"_ _1dd\"> </span>6.2 <span class=\"_ _155\"> </span>1<span class=\"_ _7\"/>64.5 <span class=\"_ _155\"> </span>47<span class=\"_ _1\"/>.8 <span class=\"_ _a8\"> </span>27<span class=\"_ _d\"/>.9 <span class=\"_ _17\"> </span>246.4 Accumulated amortization and impairment <span class=\"_ _6d\"> </span>\u2013 <span class=\"_ _19\"> </span>- 1<span class=\"_ _3\"/>02.6 <span class=\"_ _17\"> </span>- 32.8 <span class=\"_ _d0\"> </span>\u2013 <span class=\"_ _13c\"> </span>- 1<span class=\"_ _7\"/>35.4 Car<span class=\"_ _7\"/>rying amount at 31 December 2021 <span class=\"_ _81\"> </span>6.2 <span class=\"_ _ce\"> </span>61.9 <span class=\"_ _b2\"> </span>15.0 <span class=\"_ _39\"> </span>27<span class=\"_ _1\"/>.9 <span class=\"_ _1a\"> </span><span class=\"fc0 lsde ws15c\">111<span class=\"_ _5\"/>.<span class=\"_ _4\"/>0<span class=\"_ _4\"/> </span>Mov<span class=\"_ _7\"/>ements: Addition <span class=\"_ _64\"> </span>\u2013 <span class=\"_ _140\"> </span>0.5 <span class=\"_ _95\"> </span>\u2013 <span class=\"_ _19a\"> </span>1<span class=\"_ _7\"/>7<span class=\"_ _1\"/>.4 <span class=\"_ _156\"> </span>1<span class=\"_ _3\"/>7<span class=\"_ _1\"/>.9 Reclassification to held f<span class=\"_ _7\"/>or sale/divestments <span class=\"_ _104\"> </span><span class=\"ff3 fc13\">3.6 <span class=\"_ _55\"> </span></span>\u2013 <span class=\"_ _bd\"> </span>- 0.3 <span class=\"_ _95\"> </span>\u2013 <span class=\"_ _d0\"> </span>\u2013 <span class=\"_ _27\"> </span>- 0.3 Reclassification <span class=\"_ _1c7\"> </span>\u2013 <span class=\"_ _bd\"> </span>23.4 <span class=\"_ _95\"> </span>\u2013 <span class=\"_ _b2\"> </span>- 24.2 <span class=\"_ _27\"> </span>- 0.8 Amortization <span class=\"_ _195\"> </span><span class=\"ff3 fc13\">3.7 <span class=\"_ _55\"> </span></span>\u2013 <span class=\"_ _ad\"> </span>- 20.2 <span class=\"_ _27\"> </span>- 0.5 <span class=\"_ _d0\"> </span>\u2013 <span class=\"_ _17\"> </span>- 20.7 Impairment <span class=\"_ _1d0\"> </span><span class=\"ff3 fc13\">3.8 <span class=\"_ _55\"> </span></span>\u2013 <span class=\"_ _bd\"> </span>- 0.2 <span class=\"_ _95\"> </span>\u2013 <span class=\"_ _d0\"> </span>\u2013 <span class=\"_ _27\"> </span>- 0.2 Exc<span class=\"_ _3\"/>hange diff<span class=\"_ _3\"/>erences <span class=\"_ _260\"> </span>0.3 <span class=\"_ _d9\"> </span>1<span class=\"_ _9\"/>.1 <span class=\"_ _ce\"> </span>0.9 <span class=\"_ _c3\"> </span>0.5 <span class=\"_ _ce\"> </span>2.8 Car<span class=\"_ _7\"/>rying amount at 31 December 2022 <span class=\"_ _81\"> </span>6.5 <span class=\"_ _76\"> </span>66.2 <span class=\"_ _16\"> </span>15.4 <span class=\"_ _156\"> </span>21.6 <span class=\"_ _116\"> </span><span class=\"fc0\">109.7 </span>Purc<span class=\"_ _3\"/>hase price of operating assets <span class=\"_ _1dd\"> </span>6.5 <span class=\"_ _155\"> </span>1<span class=\"_ _7\"/>99.6 <span class=\"_ _26\"> </span>50.5 <span class=\"_ _ce\"> </span>21<span class=\"_ _8\"/>.6 <span class=\"_ _17\"> </span>278.2 Accumulated amortization and impairment <span class=\"_ _6d\"> </span>\u2013 <span class=\"_ _9d\"> </span>- 133.4 <span class=\"_ _120\"> </span>- 35.1 <span class=\"_ _d0\"> </span>\u2013 <span class=\"_ _13c\"> </span>- 1<span class=\"_ _7\"/>68.5 Car<span class=\"_ _7\"/>rying amount at 31 December 2022 <span class=\"_ _81\"> </span>6.5 <span class=\"_ _76\"> </span>66.2 <span class=\"_ _16\"> </span>15.4 <span class=\"_ _156\"> </span>21.6 <span class=\"_ _116\"> </span><span class=\"fc0\">109.7 </span>The increase in sof<span class=\"_ _3\"/>tware assets in both years presented, is primarily related to internally dev<span class=\"_ _7\"/>eloped IT projects. F<span class=\"_ _3\"/>or more information on the impairments recognized in 2022 and 2021, ref<span class=\"_ _7\"/>erence is made to note 3.8. 2022 The div<span class=\"_ _7\"/>estment transactions for our Canadian and CRL terminal in India w<span class=\"_ _7\"/>ere finalized and upon loss of control, the goodwill amounts presented as held for sale w<span class=\"_ _7\"/>ere derecognized. 2021 As a result of the held f<span class=\"_ _7\"/>or sale classification of the CRL terminal entit<span class=\"_ _5\"/>y in Kandla and four Canadian terminals located in Hamilton, Montreal East and <span class=\"_ _9\"/>W<span class=\"_ _7\"/>est and Quebec Cit<span class=\"_ _5\"/>y<span class=\"_ _9\"/>, goodwill and intangibles allocated to these terminals have been presented as held f<span class=\"_ _7\"/>or sale for respectiv<span class=\"_ _7\"/>ely EUR 1<span class=\"_ _3\"/>9.3 million and EUR 18.0 million. F<span class=\"_ _3\"/>or more det<span class=\"_ _5\"/>ails, ref<span class=\"_ _7\"/>erence is made to note 3.6. Intangible assets - Goodwill A summar<span class=\"_ _5\"/>y of the carr<span class=\"_ _5\"/>ying amount of goodwill b<span class=\"_ _7\"/>y geographical area, whic<span class=\"_ _7\"/>h is equal to the operating segments, is presented below<span class=\"_ _9\"/>. An operating segment is also the le<span class=\"_ _7\"/>vel at whic<span class=\"_ _3\"/>h goodwill is tested for impairment. In EUR millions <span class=\"_ _12a\"> </span>2022 <span class=\"_ _7f\"> </span>2021China &amp; North A<span class=\"_ _7\"/>sia <span class=\"_ _28e\"> </span>4.7 <span class=\"_ _db\"> </span>4.4 Europe &amp; Africa <span class=\"_ _20c\"> </span><span class=\"ws3\">1<span class=\"_ _9\"/>.8 <span class=\"_ _113\"> </span>1<span class=\"_ _9\"/>.8 </span>Car<span class=\"_ _7\"/>rying amount at 31 December <span class=\"_ _28c\"> </span><span class=\"fc0\">6.5 <span class=\"_ _41\"> </span></span>6.2 The Group has limited goodwill balances as it mostly de<span class=\"_ _7\"/>velops its o<span class=\"_ _7\"/>wn greenfield terminals instead of acquiring new subsidiary terminals. At 31 December 2021, the goodwill carrying amounts of the operating segments Americas and <span class=\"_ _3\"/>Asia &amp; Middle East hav<span class=\"_ _7\"/>e been presented as held for sale. No impairments of goodwill were recogniz<span class=\"_ _7\"/>ed in 2022 and 2021<span class=\"_ _8\"/>. Assumptions applied The reco<span class=\"_ _7\"/>verable v<span class=\"_ _7\"/>alue of an operating segment, whic<span class=\"_ _7\"/>h includes goodwill, is based on the value in use. In the impairment tests, the gro<span class=\"_ _7\"/>wth factors f<span class=\"_ _7\"/>or years f<span class=\"_ _7\"/>our through fif<span class=\"_ _7\"/>teen were based on the inflation rate within the range of 1<span class=\"_ _8\"/>.95% to 2.25% depending on the operating segment (2021: 1<span class=\"_ _8\"/>.5% to 2.5%). <span class=\"_ _9\"/>The pre-tax discount rate used depends on the (av<span class=\"_ _3\"/>erage) risk profile of the cash-generating unit and was 1<span class=\"_ _8\"/>1<span class=\"_ _8\"/>.1% (2021: 1<span class=\"_ _3\"/>0.7%) for China &amp; North A<span class=\"_ _7\"/>sia. <span class=\"_ _9\"/>T<span class=\"_ _7\"/>he operating profit included in the calculations is based on the approv<span class=\"_ _7\"/>ed budget for 2023 and the subsequent plan years. Sensitivity The v<span class=\"_ _7\"/>alue in use calculations indicated more than suf<span class=\"_ _7\"/>ficient headroom, suc<span class=\"_ _3\"/>h that a reasonably possible c<span class=\"_ _3\"/>hange in key assumptions w<span class=\"_ _7\"/>ould not result in an impairment of the related goodwill.  Other intangible assets 2022 No material impairments were recogniz<span class=\"_ _7\"/>ed in other intangible assets in 2022 relating to individual projects and/or assets.   2021 No material impairments were recogniz<span class=\"_ _7\"/>ed in other intangible assets in 2021 relating to individual projects and/or assets. <span class=\"_ _9\"/>T<span class=\"_ _7\"/>he net impairment of EUR 1<span class=\"_ _7\"/>5.9 million was recogniz<span class=\"_ _7\"/>ed in connection with the impairment of the cash generating unit in P<span class=\"_ _7\"/>anama. For more inf<span class=\"_ _3\"/>ormation ref<span class=\"_ _7\"/>erence is made to the paragraph on the Property<span class=\"_ _3\"/>, plant and equipment later in this note.  ",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfIntangibleAssetsAndGoodwillExplanatory",
    "language": "en",
    "entity": "scheme:724500UL634GFV1KYF10",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
   }
  },
  "pp-value-64-3": {
   "value": "Note 3.2 Intangible assets A<span class=\"_ _1e\"> </span><span class=\"ff3 fs9\">Accounting policies </span>Intangible assets include goodwill, internally developed sof<span class=\"_ _3\"/>tware, contractual relationships, concessions and fa<span class=\"_ _7\"/>vorable leases ensuing from business combinations.  In April 2021, the IFR<span class=\"_ _7\"/>S interpretation commit<span class=\"_ _7\"/>tee published the agenda decision \u2018Configuration or customization costs in a cloud computing arrangement\u2019 whic<span class=\"_ _3\"/>h considers whether an intangible asset can be recognized in relation to configuration or customization of application sof<span class=\"_ _3\"/>t<span class=\"_ _5\"/>ware. <span class=\"_ _9\"/>V<span class=\"_ _3\"/>opak has identified sev<span class=\"_ _7\"/>eral assets that have configuration or customization costs included in the asset\u2019<span class=\"_ _9\"/>s cost base. <span class=\"_ _9\"/>The IFRIC agenda decision sets out the follo<span class=\"_ _7\"/>wing options for accounting f<span class=\"_ _7\"/>or costs incurred for customization of cloud computing arrangements that are considered to f<span class=\"_ _7\"/>ollow ser<span class=\"_ _5\"/>vice contract accounting as follo<span class=\"_ _3\"/>ws: \u2022 <span class=\"_ _19f\"> </span><span class=\"fc1\">If the ser<span class=\"_ _5\"/>vices received are distinct, the costs are recogniz<span class=\"_ _7\"/>ed as an expense when the </span>supplier configures or customizes the application sof<span class=\"_ _3\"/>tware; or \u2022 <span class=\"_ _19f\"> </span><span class=\"fc1\">If the ser<span class=\"_ _5\"/>vices are not distinct, the costs are recognized as an e<span class=\"_ _7\"/>xpense when the supplier </span>provides access to the application sof<span class=\"_ _3\"/>tware ov<span class=\"_ _7\"/>er the contract term; or \u2022 <span class=\"_ _19f\"> </span><span class=\"fc1 ws130\">When a third-party supplier<span class=\"_ _3\"/>, employees or in-house contractors configure or customiz<span class=\"_ _7\"/>e the </span>application sof<span class=\"_ _3\"/>t<span class=\"_ _5\"/>ware, costs are recogniz<span class=\"_ _7\"/>ed as an expense when incurred. \u2022 <span class=\"_ _19f\"> </span><span class=\"fc1\">In limited circumstances, cert<span class=\"_ _5\"/>ain configuration and customization activities under taken in </span>implementing cloud computing arrangements ma<span class=\"_ _7\"/>y give rise to a separate intangible asset. This ma<span class=\"_ _7\"/>y be the case if the arrangement results, for e<span class=\"_ _3\"/>xample in additional software code (for interf<span class=\"_ _7\"/>aces with other sof<span class=\"_ _3\"/>t<span class=\"_ _5\"/>ware applications) from whic<span class=\"_ _3\"/>h the Group has the pow<span class=\"_ _7\"/>er to obtain the future economic benefits and to restrict others<span class=\"_ _7\"/>\u2019 access to those benefits. <span class=\"_ _8\"/>The Group recognizes an intangible asset if the additional code is \u2018identifiable\u2019 and meets the recognition criteria for an intangible asset. Goodwill represents the dif<span class=\"_ _7\"/>f<span class=\"_ _7\"/>erence between the purc<span class=\"_ _3\"/>hase price and <span class=\"_ _3\"/>V<span class=\"_ _3\"/>opak\u2019<span class=\"_ _3\"/>s share in the fair v<span class=\"_ _7\"/>alue of the acquired identifiable assets, liabilities and contingent liabilities of the company acquired at the time <span class=\"_ _9\"/>V<span class=\"_ _3\"/>opak obtains control (acquisition method). Goodwill is carried at cost less accumulated impairments. F<span class=\"_ _7\"/>or the purpose of impairment testing, goodwill acquired in a business combination is allocated to the operating segments (divisions), whic<span class=\"_ _3\"/>h represents the lowest le<span class=\"_ _7\"/>vel within the V<span class=\"_ _3\"/>opak Group at whic<span class=\"_ _3\"/>h the goodwill is monitored for internal management purposes.  Goodwill relating to an associate or joint vent<span class=\"_ _7\"/>ure is included in the carr<span class=\"_ _5\"/>ying amount of the inv<span class=\"_ _7\"/>estment in the associate or joint vent<span class=\"_ _7\"/>ure and is not tested for impairment separately<span class=\"_ _9\"/>, but is part of the impairment testing of the inv<span class=\"_ _7\"/>estment in the  associate or joint vent<span class=\"_ _7\"/>ure. Sof<span class=\"_ _3\"/>t<span class=\"_ _5\"/>ware is carried at historical cost, net of straight-line amortization based on its e<span class=\"_ _3\"/>xpected useful lif<span class=\"_ _7\"/>e and any potential impairment. Other intangible assets are carried at their initial fair v<span class=\"_ _7\"/>alue at the time of the acquisition,   net of straight-line amortization and impairments.     <span class=\"_ _25\"/>Other items are mainly licenses that are carried at historical cost, net of   straight-line amortization.  Mov<span class=\"_ _3\"/>ements in intangible assets Under  develop-In EUR millions <span class=\"_ _25e\"> </span>Note <span class=\"_ _192\"> </span><span class=\"fs7 fc7\">Goodwill <span class=\"_ _b3\"> </span>Sof<span class=\"_ _7\"/>twar<span class=\"_ _7\"/>e <span class=\"_ _147\"> </span>Other </span>ment <span class=\"_ _17\"> </span><span class=\"fc0\">T<span class=\"_ _9\"/>otal </span>Purc<span class=\"_ _3\"/>hase price of operating assets <span class=\"_ _25f\"> </span>38.5 <span class=\"_ _22c\"> </span>130.3 <span class=\"_ _1a2\"> </span>50.5 <span class=\"_ _3a\"> </span>33.5 <span class=\"_ _17\"> </span>252.8 Accumulated amortization and impairment <span class=\"_ _6d\"> </span>\u2013 <span class=\"_ _ad\"> </span>- 85.4 <span class=\"_ _21c\"> </span>- 1<span class=\"_ _7\"/>9.8 <span class=\"_ _d0\"> </span>\u2013 <span class=\"_ _10\"> </span>- 1<span class=\"_ _3\"/>05.2 Car<span class=\"_ _7\"/>rying amount at 31 December 2020 <span class=\"_ _189\"> </span>38.5 <span class=\"_ _76\"> </span>44.9 <span class=\"_ _16\"> </span>30.7 <span class=\"_ _38\"> </span>33.5 <span class=\"_ _120\"> </span><span class=\"fc0\">147<span class=\"_ _8\"/>.6 </span>Mov<span class=\"_ _7\"/>ements: Addition <span class=\"_ _64\"> </span>\u2013 <span class=\"_ _95\"> </span>1<span class=\"_ _8\"/>.4 <span class=\"_ _159\"> </span>\u2013 <span class=\"_ _aa\"> </span>24.0 <span class=\"_ _27\"> </span>25.4 Disposal <span class=\"_ _215\"> </span>\u2013 <span class=\"_ _228\"> </span>\u2013 <span class=\"_ _ce\"> </span>0.1 <span class=\"_ _d0\"> </span>\u2013 <span class=\"_ _ce\"> </span>0.1 Reclassification to held f<span class=\"_ _7\"/>or sale/divestments <span class=\"_ _104\"> </span><span class=\"ff3 fc13\">3.6 <span class=\"_ _39\"> </span></span>- 35.1 <span class=\"_ _19a\"> </span>- 0.1 <span class=\"_ _22c\"> </span>- 1<span class=\"_ _9\"/>.3 <span class=\"_ _3a\"> </span>- 0.8 <span class=\"_ _19\"> </span>- 37<span class=\"_ _1\"/>.3 Reclassification <span class=\"_ _1c7\"> </span>\u2013 <span class=\"_ _bd\"> </span>32.5 <span class=\"_ _95\"> </span>\u2013 <span class=\"_ _b2\"> </span>- 29.4 <span class=\"_ _ce\"> </span>3.1 Amortization <span class=\"_ _195\"> </span><span class=\"ff3 fc13\">3.7 <span class=\"_ _55\"> </span></span>\u2013 <span class=\"_ _155\"> </span>- 1<span class=\"_ _3\"/>6.8 <span class=\"_ _27\"> </span>- 0.8 <span class=\"_ _d0\"> </span>\u2013 <span class=\"_ _233\"> </span>- 1<span class=\"_ _7\"/>7<span class=\"_ _1\"/>.6 Impairment <span class=\"_ _1d0\"> </span><span class=\"ff3 fc13\">3.8 <span class=\"_ _55\"> </span></span>\u2013 <span class=\"_ _bd\"> </span>- 0.3 <span class=\"_ _17\"> </span>- 15.6 <span class=\"_ _d0\"> </span>\u2013 <span class=\"_ _17\"> </span>- 1<span class=\"_ _7\"/>5.9 Exc<span class=\"_ _3\"/>hange diff<span class=\"_ _3\"/>erences <span class=\"_ _260\"> </span>2.8 <span class=\"_ _c9\"> </span>0.3 <span class=\"_ _bd\"> </span>1<span class=\"_ _9\"/>.9 <span class=\"_ _c3\"> </span>0.6 <span class=\"_ _ce\"> </span>5.6 Car<span class=\"_ _7\"/>rying amount at 31 December 2021 <span class=\"_ _81\"> </span>6.2 <span class=\"_ _ce\"> </span>61.9 <span class=\"_ _b2\"> </span>15.0 <span class=\"_ _39\"> </span>27<span class=\"_ _1\"/>.9 <span class=\"_ _1a\"> </span><span class=\"fc0 lsde ws15c\">111<span class=\"_ _5\"/>.<span class=\"_ _4\"/>0<span class=\"_ _4\"/> </span>Purc<span class=\"_ _3\"/>hase price of operating assets <span class=\"_ _1dd\"> </span>6.2 <span class=\"_ _155\"> </span>1<span class=\"_ _7\"/>64.5 <span class=\"_ _155\"> </span>47<span class=\"_ _1\"/>.8 <span class=\"_ _a8\"> </span>27<span class=\"_ _d\"/>.9 <span class=\"_ _17\"> </span>246.4 Accumulated amortization and impairment <span class=\"_ _6d\"> </span>\u2013 <span class=\"_ _19\"> </span>- 1<span class=\"_ _3\"/>02.6 <span class=\"_ _17\"> </span>- 32.8 <span class=\"_ _d0\"> </span>\u2013 <span class=\"_ _13c\"> </span>- 1<span class=\"_ _7\"/>35.4 Car<span class=\"_ _7\"/>rying amount at 31 December 2021 <span class=\"_ _81\"> </span>6.2 <span class=\"_ _ce\"> </span>61.9 <span class=\"_ _b2\"> </span>15.0 <span class=\"_ _39\"> </span>27<span class=\"_ _1\"/>.9 <span class=\"_ _1a\"> </span><span class=\"fc0 lsde ws15c\">111<span class=\"_ _5\"/>.<span class=\"_ _4\"/>0<span class=\"_ _4\"/> </span>Mov<span class=\"_ _7\"/>ements: Addition <span class=\"_ _64\"> </span>\u2013 <span class=\"_ _140\"> </span>0.5 <span class=\"_ _95\"> </span>\u2013 <span class=\"_ _19a\"> </span>1<span class=\"_ _7\"/>7<span class=\"_ _1\"/>.4 <span class=\"_ _156\"> </span>1<span class=\"_ _3\"/>7<span class=\"_ _1\"/>.9 Reclassification to held f<span class=\"_ _7\"/>or sale/divestments <span class=\"_ _104\"> </span><span class=\"ff3 fc13\">3.6 <span class=\"_ _55\"> </span></span>\u2013 <span class=\"_ _bd\"> </span>- 0.3 <span class=\"_ _95\"> </span>\u2013 <span class=\"_ _d0\"> </span>\u2013 <span class=\"_ _27\"> </span>- 0.3 Reclassification <span class=\"_ _1c7\"> </span>\u2013 <span class=\"_ _bd\"> </span>23.4 <span class=\"_ _95\"> </span>\u2013 <span class=\"_ _b2\"> </span>- 24.2 <span class=\"_ _27\"> </span>- 0.8 Amortization <span class=\"_ _195\"> </span><span class=\"ff3 fc13\">3.7 <span class=\"_ _55\"> </span></span>\u2013 <span class=\"_ _ad\"> </span>- 20.2 <span class=\"_ _27\"> </span>- 0.5 <span class=\"_ _d0\"> </span>\u2013 <span class=\"_ _17\"> </span>- 20.7 Impairment <span class=\"_ _1d0\"> </span><span class=\"ff3 fc13\">3.8 <span class=\"_ _55\"> </span></span>\u2013 <span class=\"_ _bd\"> </span>- 0.2 <span class=\"_ _95\"> </span>\u2013 <span class=\"_ _d0\"> </span>\u2013 <span class=\"_ _27\"> </span>- 0.2 Exc<span class=\"_ _3\"/>hange diff<span class=\"_ _3\"/>erences <span class=\"_ _260\"> </span>0.3 <span class=\"_ _d9\"> </span>1<span class=\"_ _9\"/>.1 <span class=\"_ _ce\"> </span>0.9 <span class=\"_ _c3\"> </span>0.5 <span class=\"_ _ce\"> </span>2.8 Car<span class=\"_ _7\"/>rying amount at 31 December 2022 <span class=\"_ _81\"> </span>6.5 <span class=\"_ _76\"> </span>66.2 <span class=\"_ _16\"> </span>15.4 <span class=\"_ _156\"> </span>21.6 <span class=\"_ _116\"> </span><span class=\"fc0\">109.7 </span>Purc<span class=\"_ _3\"/>hase price of operating assets <span class=\"_ _1dd\"> </span>6.5 <span class=\"_ _155\"> </span>1<span class=\"_ _7\"/>99.6 <span class=\"_ _26\"> </span>50.5 <span class=\"_ _ce\"> </span>21<span class=\"_ _8\"/>.6 <span class=\"_ _17\"> </span>278.2 Accumulated amortization and impairment <span class=\"_ _6d\"> </span>\u2013 <span class=\"_ _9d\"> </span>- 133.4 <span class=\"_ _120\"> </span>- 35.1 <span class=\"_ _d0\"> </span>\u2013 <span class=\"_ _13c\"> </span>- 1<span class=\"_ _7\"/>68.5 Car<span class=\"_ _7\"/>rying amount at 31 December 2022 <span class=\"_ _81\"> </span>6.5 <span class=\"_ _76\"> </span>66.2 <span class=\"_ _16\"> </span>15.4 <span class=\"_ _156\"> </span>21.6 <span class=\"_ _116\"> </span><span class=\"fc0\">109.7 </span>The increase in sof<span class=\"_ _3\"/>tware assets in both years presented, is primarily related to internally dev<span class=\"_ _7\"/>eloped IT projects. F<span class=\"_ _3\"/>or more information on the impairments recognized in 2022 and 2021, ref<span class=\"_ _7\"/>erence is made to note 3.8. 2022 The div<span class=\"_ _7\"/>estment transactions for our Canadian and CRL terminal in India w<span class=\"_ _7\"/>ere finalized and upon loss of control, the goodwill amounts presented as held for sale w<span class=\"_ _7\"/>ere derecognized. 2021 As a result of the held f<span class=\"_ _7\"/>or sale classification of the CRL terminal entit<span class=\"_ _5\"/>y in Kandla and four Canadian terminals located in Hamilton, Montreal East and <span class=\"_ _9\"/>W<span class=\"_ _7\"/>est and Quebec Cit<span class=\"_ _5\"/>y<span class=\"_ _9\"/>, goodwill and intangibles allocated to these terminals have been presented as held f<span class=\"_ _7\"/>or sale for respectiv<span class=\"_ _7\"/>ely EUR 1<span class=\"_ _3\"/>9.3 million and EUR 18.0 million. F<span class=\"_ _3\"/>or more det<span class=\"_ _5\"/>ails, ref<span class=\"_ _7\"/>erence is made to note 3.6. The Group has limited goodwill balances as it mostly de<span class=\"_ _7\"/>velops its o<span class=\"_ _7\"/>wn greenfield terminals instead of acquiring new subsidiary terminals. At 31 December 2021, the goodwill carrying amounts of the operating segments Americas and <span class=\"_ _3\"/>Asia &amp; Middle East hav<span class=\"_ _7\"/>e been presented as held for sale. No impairments of goodwill were recogniz<span class=\"_ _7\"/>ed in 2022 and 2021<span class=\"_ _8\"/>. Assumptions applied The reco<span class=\"_ _7\"/>verable v<span class=\"_ _7\"/>alue of an operating segment, whic<span class=\"_ _7\"/>h includes goodwill, is based on the value in use. In the impairment tests, the gro<span class=\"_ _7\"/>wth factors f<span class=\"_ _7\"/>or years f<span class=\"_ _7\"/>our through fif<span class=\"_ _7\"/>teen were based on the inflation rate within the range of 1<span class=\"_ _8\"/>.95% to 2.25% depending on the operating segment (2021: 1<span class=\"_ _8\"/>.5% to 2.5%). <span class=\"_ _9\"/>The pre-tax discount rate used depends on the (av<span class=\"_ _3\"/>erage) risk profile of the cash-generating unit and was 1<span class=\"_ _8\"/>1<span class=\"_ _8\"/>.1% (2021: 1<span class=\"_ _3\"/>0.7%) for China &amp; North A<span class=\"_ _7\"/>sia. <span class=\"_ _9\"/>T<span class=\"_ _7\"/>he operating profit included in the calculations is based on the approv<span class=\"_ _7\"/>ed budget for 2023 and the subsequent plan years. Sensitivity The v<span class=\"_ _7\"/>alue in use calculations indicated more than suf<span class=\"_ _7\"/>ficient headroom, suc<span class=\"_ _3\"/>h that a reasonably possible c<span class=\"_ _3\"/>hange in key assumptions w<span class=\"_ _7\"/>ould not result in an impairment of the related goodwill.  Other intangible assets 2022 No material impairments were recogniz<span class=\"_ _7\"/>ed in other intangible assets in 2022 relating to individual projects and/or assets.   2021 No material impairments were recogniz<span class=\"_ _7\"/>ed in other intangible assets in 2021 relating to individual projects and/or assets. <span class=\"_ _9\"/>T<span class=\"_ _7\"/>he net impairment of EUR 1<span class=\"_ _7\"/>5.9 million was recogniz<span class=\"_ _7\"/>ed in connection with the impairment of the cash generating unit in P<span class=\"_ _7\"/>anama. For more inf<span class=\"_ _3\"/>ormation ref<span class=\"_ _7\"/>erence is made to the paragraph on the Property<span class=\"_ _3\"/>, plant and equipment later in this note.  ",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfIntangibleAssetsExplanatory",
    "language": "en",
    "entity": "scheme:724500UL634GFV1KYF10",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
   }
  },
  "pp-value-64-4": {
   "value": "Note 3.2 Intangible assets A<span class=\"_ _1e\"> </span><span class=\"ff3 fs9\">Accounting policies </span>Intangible assets include goodwill, internally developed sof<span class=\"_ _3\"/>tware, contractual relationships, concessions and fa<span class=\"_ _7\"/>vorable leases ensuing from business combinations.  In April 2021, the IFR<span class=\"_ _7\"/>S interpretation commit<span class=\"_ _7\"/>tee published the agenda decision \u2018Configuration or customization costs in a cloud computing arrangement\u2019 whic<span class=\"_ _3\"/>h considers whether an intangible asset can be recognized in relation to configuration or customization of application sof<span class=\"_ _3\"/>t<span class=\"_ _5\"/>ware. <span class=\"_ _9\"/>V<span class=\"_ _3\"/>opak has identified sev<span class=\"_ _7\"/>eral assets that have configuration or customization costs included in the asset\u2019<span class=\"_ _9\"/>s cost base. <span class=\"_ _9\"/>The IFRIC agenda decision sets out the follo<span class=\"_ _7\"/>wing options for accounting f<span class=\"_ _7\"/>or costs incurred for customization of cloud computing arrangements that are considered to f<span class=\"_ _7\"/>ollow ser<span class=\"_ _5\"/>vice contract accounting as follo<span class=\"_ _3\"/>ws: \u2022 <span class=\"_ _19f\"> </span><span class=\"fc1\">If the ser<span class=\"_ _5\"/>vices received are distinct, the costs are recogniz<span class=\"_ _7\"/>ed as an expense when the </span>supplier configures or customizes the application sof<span class=\"_ _3\"/>tware; or \u2022 <span class=\"_ _19f\"> </span><span class=\"fc1\">If the ser<span class=\"_ _5\"/>vices are not distinct, the costs are recognized as an e<span class=\"_ _7\"/>xpense when the supplier </span>provides access to the application sof<span class=\"_ _3\"/>tware ov<span class=\"_ _7\"/>er the contract term; or \u2022 <span class=\"_ _19f\"> </span><span class=\"fc1 ws130\">When a third-party supplier<span class=\"_ _3\"/>, employees or in-house contractors configure or customiz<span class=\"_ _7\"/>e the </span>application sof<span class=\"_ _3\"/>t<span class=\"_ _5\"/>ware, costs are recogniz<span class=\"_ _7\"/>ed as an expense when incurred. \u2022 <span class=\"_ _19f\"> </span><span class=\"fc1\">In limited circumstances, cert<span class=\"_ _5\"/>ain configuration and customization activities under taken in </span>implementing cloud computing arrangements ma<span class=\"_ _7\"/>y give rise to a separate intangible asset. This ma<span class=\"_ _7\"/>y be the case if the arrangement results, for e<span class=\"_ _3\"/>xample in additional software code (for interf<span class=\"_ _7\"/>aces with other sof<span class=\"_ _3\"/>t<span class=\"_ _5\"/>ware applications) from whic<span class=\"_ _3\"/>h the Group has the pow<span class=\"_ _7\"/>er to obtain the future economic benefits and to restrict others<span class=\"_ _7\"/>\u2019 access to those benefits. <span class=\"_ _8\"/>The Group recognizes an intangible asset if the additional code is \u2018identifiable\u2019 and meets the recognition criteria for an intangible asset. Goodwill represents the dif<span class=\"_ _7\"/>f<span class=\"_ _7\"/>erence between the purc<span class=\"_ _3\"/>hase price and <span class=\"_ _3\"/>V<span class=\"_ _3\"/>opak\u2019<span class=\"_ _3\"/>s share in the fair v<span class=\"_ _7\"/>alue of the acquired identifiable assets, liabilities and contingent liabilities of the company acquired at the time <span class=\"_ _9\"/>V<span class=\"_ _3\"/>opak obtains control (acquisition method). Goodwill is carried at cost less accumulated impairments. F<span class=\"_ _7\"/>or the purpose of impairment testing, goodwill acquired in a business combination is allocated to the operating segments (divisions), whic<span class=\"_ _3\"/>h represents the lowest le<span class=\"_ _7\"/>vel within the V<span class=\"_ _3\"/>opak Group at whic<span class=\"_ _3\"/>h the goodwill is monitored for internal management purposes.  Goodwill relating to an associate or joint vent<span class=\"_ _7\"/>ure is included in the carr<span class=\"_ _5\"/>ying amount of the inv<span class=\"_ _7\"/>estment in the associate or joint vent<span class=\"_ _7\"/>ure and is not tested for impairment separately<span class=\"_ _9\"/>, but is part of the impairment testing of the inv<span class=\"_ _7\"/>estment in the  associate or joint vent<span class=\"_ _7\"/>ure. Sof<span class=\"_ _3\"/>t<span class=\"_ _5\"/>ware is carried at historical cost, net of straight-line amortization based on its e<span class=\"_ _3\"/>xpected useful lif<span class=\"_ _7\"/>e and any potential impairment. Other intangible assets are carried at their initial fair v<span class=\"_ _7\"/>alue at the time of the acquisition,   net of straight-line amortization and impairments.     <span class=\"_ _25\"/>Other items are mainly licenses that are carried at historical cost, net of   straight-line amortization.  Mov<span class=\"_ _3\"/>ements in intangible assets Under  develop-In EUR millions <span class=\"_ _25e\"> </span>Note <span class=\"_ _192\"> </span><span class=\"fs7 fc7\">Goodwill <span class=\"_ _b3\"> </span>Sof<span class=\"_ _7\"/>twar<span class=\"_ _7\"/>e <span class=\"_ _147\"> </span>Other </span>ment <span class=\"_ _17\"> </span><span class=\"fc0\">T<span class=\"_ _9\"/>otal </span>Purc<span class=\"_ _3\"/>hase price of operating assets <span class=\"_ _25f\"> </span>38.5 <span class=\"_ _22c\"> </span>130.3 <span class=\"_ _1a2\"> </span>50.5 <span class=\"_ _3a\"> </span>33.5 <span class=\"_ _17\"> </span>252.8 Accumulated amortization and impairment <span class=\"_ _6d\"> </span>\u2013 <span class=\"_ _ad\"> </span>- 85.4 <span class=\"_ _21c\"> </span>- 1<span class=\"_ _7\"/>9.8 <span class=\"_ _d0\"> </span>\u2013 <span class=\"_ _10\"> </span>- 1<span class=\"_ _3\"/>05.2 Car<span class=\"_ _7\"/>rying amount at 31 December 2020 <span class=\"_ _189\"> </span>38.5 <span class=\"_ _76\"> </span>44.9 <span class=\"_ _16\"> </span>30.7 <span class=\"_ _38\"> </span>33.5 <span class=\"_ _120\"> </span><span class=\"fc0\">147<span class=\"_ _8\"/>.6 </span>Mov<span class=\"_ _7\"/>ements: Addition <span class=\"_ _64\"> </span>\u2013 <span class=\"_ _95\"> </span>1<span class=\"_ _8\"/>.4 <span class=\"_ _159\"> </span>\u2013 <span class=\"_ _aa\"> </span>24.0 <span class=\"_ _27\"> </span>25.4 Disposal <span class=\"_ _215\"> </span>\u2013 <span class=\"_ _228\"> </span>\u2013 <span class=\"_ _ce\"> </span>0.1 <span class=\"_ _d0\"> </span>\u2013 <span class=\"_ _ce\"> </span>0.1 Reclassification to held f<span class=\"_ _7\"/>or sale/divestments <span class=\"_ _104\"> </span><span class=\"ff3 fc13\">3.6 <span class=\"_ _39\"> </span></span>- 35.1 <span class=\"_ _19a\"> </span>- 0.1 <span class=\"_ _22c\"> </span>- 1<span class=\"_ _9\"/>.3 <span class=\"_ _3a\"> </span>- 0.8 <span class=\"_ _19\"> </span>- 37<span class=\"_ _1\"/>.3 Reclassification <span class=\"_ _1c7\"> </span>\u2013 <span class=\"_ _bd\"> </span>32.5 <span class=\"_ _95\"> </span>\u2013 <span class=\"_ _b2\"> </span>- 29.4 <span class=\"_ _ce\"> </span>3.1 Amortization <span class=\"_ _195\"> </span><span class=\"ff3 fc13\">3.7 <span class=\"_ _55\"> </span></span>\u2013 <span class=\"_ _155\"> </span>- 1<span class=\"_ _3\"/>6.8 <span class=\"_ _27\"> </span>- 0.8 <span class=\"_ _d0\"> </span>\u2013 <span class=\"_ _233\"> </span>- 1<span class=\"_ _7\"/>7<span class=\"_ _1\"/>.6 Impairment <span class=\"_ _1d0\"> </span><span class=\"ff3 fc13\">3.8 <span class=\"_ _55\"> </span></span>\u2013 <span class=\"_ _bd\"> </span>- 0.3 <span class=\"_ _17\"> </span>- 15.6 <span class=\"_ _d0\"> </span>\u2013 <span class=\"_ _17\"> </span>- 1<span class=\"_ _7\"/>5.9 Exc<span class=\"_ _3\"/>hange diff<span class=\"_ _3\"/>erences <span class=\"_ _260\"> </span>2.8 <span class=\"_ _c9\"> </span>0.3 <span class=\"_ _bd\"> </span>1<span class=\"_ _9\"/>.9 <span class=\"_ _c3\"> </span>0.6 <span class=\"_ _ce\"> </span>5.6 Car<span class=\"_ _7\"/>rying amount at 31 December 2021 <span class=\"_ _81\"> </span>6.2 <span class=\"_ _ce\"> </span>61.9 <span class=\"_ _b2\"> </span>15.0 <span class=\"_ _39\"> </span>27<span class=\"_ _1\"/>.9 <span class=\"_ _1a\"> </span><span class=\"fc0 lsde ws15c\">111<span class=\"_ _5\"/>.<span class=\"_ _4\"/>0<span class=\"_ _4\"/> </span>Purc<span class=\"_ _3\"/>hase price of operating assets <span class=\"_ _1dd\"> </span>6.2 <span class=\"_ _155\"> </span>1<span class=\"_ _7\"/>64.5 <span class=\"_ _155\"> </span>47<span class=\"_ _1\"/>.8 <span class=\"_ _a8\"> </span>27<span class=\"_ _d\"/>.9 <span class=\"_ _17\"> </span>246.4 Accumulated amortization and impairment <span class=\"_ _6d\"> </span>\u2013 <span class=\"_ _19\"> </span>- 1<span class=\"_ _3\"/>02.6 <span class=\"_ _17\"> </span>- 32.8 <span class=\"_ _d0\"> </span>\u2013 <span class=\"_ _13c\"> </span>- 1<span class=\"_ _7\"/>35.4 Car<span class=\"_ _7\"/>rying amount at 31 December 2021 <span class=\"_ _81\"> </span>6.2 <span class=\"_ _ce\"> </span>61.9 <span class=\"_ _b2\"> </span>15.0 <span class=\"_ _39\"> </span>27<span class=\"_ _1\"/>.9 <span class=\"_ _1a\"> </span><span class=\"fc0 lsde ws15c\">111<span class=\"_ _5\"/>.<span class=\"_ _4\"/>0<span class=\"_ _4\"/> </span>Mov<span class=\"_ _7\"/>ements: Addition <span class=\"_ _64\"> </span>\u2013 <span class=\"_ _140\"> </span>0.5 <span class=\"_ _95\"> </span>\u2013 <span class=\"_ _19a\"> </span>1<span class=\"_ _7\"/>7<span class=\"_ _1\"/>.4 <span class=\"_ _156\"> </span>1<span class=\"_ _3\"/>7<span class=\"_ _1\"/>.9 Reclassification to held f<span class=\"_ _7\"/>or sale/divestments <span class=\"_ _104\"> </span><span class=\"ff3 fc13\">3.6 <span class=\"_ _55\"> </span></span>\u2013 <span class=\"_ _bd\"> </span>- 0.3 <span class=\"_ _95\"> </span>\u2013 <span class=\"_ _d0\"> </span>\u2013 <span class=\"_ _27\"> </span>- 0.3 Reclassification <span class=\"_ _1c7\"> </span>\u2013 <span class=\"_ _bd\"> </span>23.4 <span class=\"_ _95\"> </span>\u2013 <span class=\"_ _b2\"> </span>- 24.2 <span class=\"_ _27\"> </span>- 0.8 Amortization <span class=\"_ _195\"> </span><span class=\"ff3 fc13\">3.7 <span class=\"_ _55\"> </span></span>\u2013 <span class=\"_ _ad\"> </span>- 20.2 <span class=\"_ _27\"> </span>- 0.5 <span class=\"_ _d0\"> </span>\u2013 <span class=\"_ _17\"> </span>- 20.7 Impairment <span class=\"_ _1d0\"> </span><span class=\"ff3 fc13\">3.8 <span class=\"_ _55\"> </span></span>\u2013 <span class=\"_ _bd\"> </span>- 0.2 <span class=\"_ _95\"> </span>\u2013 <span class=\"_ _d0\"> </span>\u2013 <span class=\"_ _27\"> </span>- 0.2 Exc<span class=\"_ _3\"/>hange diff<span class=\"_ _3\"/>erences <span class=\"_ _260\"> </span>0.3 <span class=\"_ _d9\"> </span>1<span class=\"_ _9\"/>.1 <span class=\"_ _ce\"> </span>0.9 <span class=\"_ _c3\"> </span>0.5 <span class=\"_ _ce\"> </span>2.8 Car<span class=\"_ _7\"/>rying amount at 31 December 2022 <span class=\"_ _81\"> </span>6.5 <span class=\"_ _76\"> </span>66.2 <span class=\"_ _16\"> </span>15.4 <span class=\"_ _156\"> </span>21.6 <span class=\"_ _116\"> </span><span class=\"fc0\">109.7 </span>Purc<span class=\"_ _3\"/>hase price of operating assets <span class=\"_ _1dd\"> </span>6.5 <span class=\"_ _155\"> </span>1<span class=\"_ _7\"/>99.6 <span class=\"_ _26\"> </span>50.5 <span class=\"_ _ce\"> </span>21<span class=\"_ _8\"/>.6 <span class=\"_ _17\"> </span>278.2 Accumulated amortization and impairment <span class=\"_ _6d\"> </span>\u2013 <span class=\"_ _9d\"> </span>- 133.4 <span class=\"_ _120\"> </span>- 35.1 <span class=\"_ _d0\"> </span>\u2013 <span class=\"_ _13c\"> </span>- 1<span class=\"_ _7\"/>68.5 Car<span class=\"_ _7\"/>rying amount at 31 December 2022 <span class=\"_ _81\"> </span>6.5 <span class=\"_ _76\"> </span>66.2 <span class=\"_ _16\"> </span>15.4 <span class=\"_ _156\"> </span>21.6 <span class=\"_ _116\"> </span><span class=\"fc0\">109.7 </span>The increase in sof<span class=\"_ _3\"/>tware assets in both years presented, is primarily related to internally dev<span class=\"_ _7\"/>eloped IT projects. F<span class=\"_ _3\"/>or more information on the impairments recognized in 2022 and 2021, ref<span class=\"_ _7\"/>erence is made to note 3.8. 2022 The div<span class=\"_ _7\"/>estment transactions for our Canadian and CRL terminal in India w<span class=\"_ _7\"/>ere finalized and upon loss of control, the goodwill amounts presented as held for sale w<span class=\"_ _7\"/>ere derecognized. 2021 As a result of the held f<span class=\"_ _7\"/>or sale classification of the CRL terminal entit<span class=\"_ _5\"/>y in Kandla and four Canadian terminals located in Hamilton, Montreal East and <span class=\"_ _9\"/>W<span class=\"_ _7\"/>est and Quebec Cit<span class=\"_ _5\"/>y<span class=\"_ _9\"/>, goodwill and intangibles allocated to these terminals have been presented as held f<span class=\"_ _7\"/>or sale for respectiv<span class=\"_ _7\"/>ely EUR 1<span class=\"_ _3\"/>9.3 million and EUR 18.0 million. F<span class=\"_ _3\"/>or more det<span class=\"_ _5\"/>ails, ref<span class=\"_ _7\"/>erence is made to note 3.6. Intangible assets - Goodwill A summar<span class=\"_ _5\"/>y of the carr<span class=\"_ _5\"/>ying amount of goodwill b<span class=\"_ _7\"/>y geographical area, whic<span class=\"_ _7\"/>h is equal to the operating segments, is presented below<span class=\"_ _9\"/>. An operating segment is also the le<span class=\"_ _7\"/>vel at whic<span class=\"_ _3\"/>h goodwill is tested for impairment. In EUR millions <span class=\"_ _12a\"> </span>2022 <span class=\"_ _7f\"> </span>2021China &amp; North A<span class=\"_ _7\"/>sia <span class=\"_ _28e\"> </span>4.7 <span class=\"_ _db\"> </span>4.4 Europe &amp; Africa <span class=\"_ _20c\"> </span><span class=\"ws3\">1<span class=\"_ _9\"/>.8 <span class=\"_ _113\"> </span>1<span class=\"_ _9\"/>.8 </span>Car<span class=\"_ _7\"/>rying amount at 31 December <span class=\"_ _28c\"> </span><span class=\"fc0\">6.5 <span class=\"_ _41\"> </span></span>6.2 The Group has limited goodwill balances as it mostly de<span class=\"_ _7\"/>velops its o<span class=\"_ _7\"/>wn greenfield terminals instead of acquiring new subsidiary terminals. At 31 December 2021, the goodwill carrying amounts of the operating segments Americas and <span class=\"_ _3\"/>Asia &amp; Middle East hav<span class=\"_ _7\"/>e been presented as held for sale. No impairments of goodwill were recogniz<span class=\"_ _7\"/>ed in 2022 and 2021<span class=\"_ _8\"/>. Assumptions applied The reco<span class=\"_ _7\"/>verable v<span class=\"_ _7\"/>alue of an operating segment, whic<span class=\"_ _7\"/>h includes goodwill, is based on the value in use. In the impairment tests, the gro<span class=\"_ _7\"/>wth factors f<span class=\"_ _7\"/>or years f<span class=\"_ _7\"/>our through fif<span class=\"_ _7\"/>teen were based on the inflation rate within the range of 1<span class=\"_ _8\"/>.95% to 2.25% depending on the operating segment (2021: 1<span class=\"_ _8\"/>.5% to 2.5%). <span class=\"_ _9\"/>The pre-tax discount rate used depends on the (av<span class=\"_ _3\"/>erage) risk profile of the cash-generating unit and was 1<span class=\"_ _8\"/>1<span class=\"_ _8\"/>.1% (2021: 1<span class=\"_ _3\"/>0.7%) for China &amp; North A<span class=\"_ _7\"/>sia. <span class=\"_ _9\"/>T<span class=\"_ _7\"/>he operating profit included in the calculations is based on the approv<span class=\"_ _7\"/>ed budget for 2023 and the subsequent plan years. Sensitivity The v<span class=\"_ _7\"/>alue in use calculations indicated more than suf<span class=\"_ _7\"/>ficient headroom, suc<span class=\"_ _3\"/>h that a reasonably possible c<span class=\"_ _3\"/>hange in key assumptions w<span class=\"_ _7\"/>ould not result in an impairment of the related goodwill.  Other intangible assets 2022 No material impairments were recogniz<span class=\"_ _7\"/>ed in other intangible assets in 2022 relating to individual projects and/or assets.   2021 No material impairments were recogniz<span class=\"_ _7\"/>ed in other intangible assets in 2021 relating to individual projects and/or assets. <span class=\"_ _9\"/>T<span class=\"_ _7\"/>he net impairment of EUR 1<span class=\"_ _7\"/>5.9 million was recogniz<span class=\"_ _7\"/>ed in connection with the impairment of the cash generating unit in P<span class=\"_ _7\"/>anama. For more inf<span class=\"_ _3\"/>ormation ref<span class=\"_ _7\"/>erence is made to the paragraph on the Property<span class=\"_ _3\"/>, plant and equipment later in this note.  ",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfGoodwillExplanatory",
    "language": "en",
    "entity": "scheme:724500UL634GFV1KYF10",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
   }
  },
  "pp-value-64-6": {
   "value": "Note 3.2 Intangible assets A Accounting policies Intangible assets include goodwill, internally developed software, contractual relationships, concessions and favorable leases ensuing from business combinations.  In April 2021, the IFRS interpretation committee published the agenda decision \u2018Configuration or customization costs in a cloud computing arrangement\u2019 which considers whether an intangible asset can be recognized in relation to configuration or customization of application software. Vopak has identified several assets that have configuration or customization costs included in the asset\u2019s cost base. The IFRIC agenda decision sets out the following options for accounting for costs incurred for customization of cloud computing arrangements that are considered to follow service contract accounting as follows: \u2022  If the services received are distinct, the costs are recognized as an expense when the supplier configures or customizes the application software; or \u2022  If the services are not distinct, the costs are recognized as an expense when the supplier provides access to the application software over the contract term; or \u2022  When a third-party supplier, employees or in-house contractors configure or customize the application software, costs are recognized as an expense when incurred. \u2022  In limited circumstances, certain configuration and customization activities under taken in implementing cloud computing arrangements may give rise to a separate intangible asset. This may be the case if the arrangement results, for example in additional software code (for interfaces with other software applications) from which the Group has the power to obtain the future economic benefits and to restrict others\u2019 access to those benefits. The Group recognizes an intangible asset if the additional code is \u2018identifiable\u2019 and meets the recognition criteria for an intangible asset. Goodwill represents the difference between the purchase price and Vopak\u2019s share in the fair value of the acquired identifiable assets, liabilities and contingent liabilities of the company acquired at the time Vopak obtains control (acquisition method). Goodwill is carried at cost less accumulated impairments. For the purpose of impairment testing, goodwill acquired in a business combination is allocated to the operating segments (divisions), which represents the lowest level within the Vopak Group at which the goodwill is monitored for internal management purposes.  Goodwill relating to an associate or joint venture is included in the carrying amount of the investment in the associate or joint venture and is not tested for impairment separately, but is part of the impairment testing of the investment in the  associate or joint venture. Software is carried at historical cost, net of straight-line amortization based on its expected useful life and any potential impairment. Other intangible assets are carried at their initial fair value at the time of the acquisition,   net of straight-line amortization and impairments.     Other items are mainly licenses that are carried at historical cost, net of   straight-line amortization.  ",
   "dimensions": {
    "concept": "ifrs-full:DescriptionOfAccountingPolicyForIntangibleAssetsAndGoodwillExplanatory",
    "language": "en",
    "entity": "scheme:724500UL634GFV1KYF10",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
   }
  },
  "pp-value-64-7": {
   "value": "Note 3.2 Intangible assets A Accounting policies Intangible assets include goodwill, internally developed software, contractual relationships, concessions and favorable leases ensuing from business combinations.  In April 2021, the IFRS interpretation committee published the agenda decision \u2018Configuration or customization costs in a cloud computing arrangement\u2019 which considers whether an intangible asset can be recognized in relation to configuration or customization of application software. Vopak has identified several assets that have configuration or customization costs included in the asset\u2019s cost base. The IFRIC agenda decision sets out the following options for accounting for costs incurred for customization of cloud computing arrangements that are considered to follow service contract accounting as follows: \u2022  If the services received are distinct, the costs are recognized as an expense when the supplier configures or customizes the application software; or \u2022  If the services are not distinct, the costs are recognized as an expense when the supplier provides access to the application software over the contract term; or \u2022  When a third-party supplier, employees or in-house contractors configure or customize the application software, costs are recognized as an expense when incurred. \u2022  In limited circumstances, certain configuration and customization activities under taken in implementing cloud computing arrangements may give rise to a separate intangible asset. This may be the case if the arrangement results, for example in additional software code (for interfaces with other software applications) from which the Group has the power to obtain the future economic benefits and to restrict others\u2019 access to those benefits. The Group recognizes an intangible asset if the additional code is \u2018identifiable\u2019 and meets the recognition criteria for an intangible asset. Goodwill represents the difference between the purchase price and Vopak\u2019s share in the fair value of the acquired identifiable assets, liabilities and contingent liabilities of the company acquired at the time Vopak obtains control (acquisition method). Goodwill is carried at cost less accumulated impairments. For the purpose of impairment testing, goodwill acquired in a business combination is allocated to the operating segments (divisions), which represents the lowest level within the Vopak Group at which the goodwill is monitored for internal management purposes.  Goodwill relating to an associate or joint venture is included in the carrying amount of the investment in the associate or joint venture and is not tested for impairment separately, but is part of the impairment testing of the investment in the  associate or joint venture. Software is carried at historical cost, net of straight-line amortization based on its expected useful life and any potential impairment. Other intangible assets are carried at their initial fair value at the time of the acquisition,   net of straight-line amortization and impairments.     Other items are mainly licenses that are carried at historical cost, net of   straight-line amortization.  ",
   "dimensions": {
    "concept": "ifrs-full:DescriptionOfAccountingPolicyForGoodwillExplanatory",
    "language": "en",
    "entity": "scheme:724500UL634GFV1KYF10",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
   }
  },
  "pp-value-64-8": {
   "value": "Note 3.2 Intangible assets A Accounting policies Intangible assets include goodwill, internally developed software, contractual relationships, concessions and favorable leases ensuing from business combinations.  In April 2021, the IFRS interpretation committee published the agenda decision \u2018Configuration or customization costs in a cloud computing arrangement\u2019 which considers whether an intangible asset can be recognized in relation to configuration or customization of application software. Vopak has identified several assets that have configuration or customization costs included in the asset\u2019s cost base. The IFRIC agenda decision sets out the following options for accounting for costs incurred for customization of cloud computing arrangements that are considered to follow service contract accounting as follows: \u2022  If the services received are distinct, the costs are recognized as an expense when the supplier configures or customizes the application software; or \u2022  If the services are not distinct, the costs are recognized as an expense when the supplier provides access to the application software over the contract term; or \u2022  When a third-party supplier, employees or in-house contractors configure or customize the application software, costs are recognized as an expense when incurred. \u2022  In limited circumstances, certain configuration and customization activities under taken in implementing cloud computing arrangements may give rise to a separate intangible asset. This may be the case if the arrangement results, for example in additional software code (for interfaces with other software applications) from which the Group has the power to obtain the future economic benefits and to restrict others\u2019 access to those benefits. The Group recognizes an intangible asset if the additional code is \u2018identifiable\u2019 and meets the recognition criteria for an intangible asset. Goodwill represents the difference between the purchase price and Vopak\u2019s share in the fair value of the acquired identifiable assets, liabilities and contingent liabilities of the company acquired at the time Vopak obtains control (acquisition method). Goodwill is carried at cost less accumulated impairments. For the purpose of impairment testing, goodwill acquired in a business combination is allocated to the operating segments (divisions), which represents the lowest level within the Vopak Group at which the goodwill is monitored for internal management purposes.  Goodwill relating to an associate or joint venture is included in the carrying amount of the investment in the associate or joint venture and is not tested for impairment separately, but is part of the impairment testing of the investment in the  associate or joint venture. Software is carried at historical cost, net of straight-line amortization based on its expected useful life and any potential impairment. Other intangible assets are carried at their initial fair value at the time of the acquisition,   net of straight-line amortization and impairments.     Other items are mainly licenses that are carried at historical cost, net of   straight-line amortization.  ",
   "dimensions": {
    "concept": "ifrs-full:DescriptionOfAccountingPolicyForIntangibleAssetsOtherThanGoodwillExplanatory",
    "language": "en",
    "entity": "scheme:724500UL634GFV1KYF10",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
   }
  },
  "pp-value-68-2": {
   "value": "Note 3.3 Property, plant and equipment - owned assets A Accounting policies Property, plant and equipment mainly relate to the owned terminals assets of the company which are used to service the customers in the various countries where the Group operates. Property, plant and equipment are broken down into their components and carried at historical cost, net of accumulated straight-line depreciation and less any impairment losses. Interest during construction is capitalized (see also note 5.6). Historical cost includes the initial acquisition cost plus other direct acquisition costs (such as unrecoverable taxes or transport) and construction costs that can be allocated directly (such as hours of own employees and advisory fees). To the extent that dismantling obligations exist at the end of the useful life, these estimated costs and any amendments thereto are included in the cost of the assets.  Subsequent costs are included in the asset\u2019s carrying amount or recognized as a separate asset, as appropriate, only when it is probable that future economic benefits associated with the item will flow to the Group and the cost of the item can be measured reliably. The carrying amount of the replaced part is derecognized. Costs of repairs and maintenance that do not increase the future economic benefits and are part of the day-to-day servicing  of the assets are recognized as expenses. Movements in property, plant and equipment - owned assets Tank storage Machinery and Under In EUR millions  Note  Land  Buildings terminals equipment development  Total Purchase price of operating assets  39.2  315.7  5,638.1  132.3  709.3  6,834.6 Accumulated depreciation and impairment  \u2013  - 155.0  - 2,791.9  - 88.8  \u2013  - 3,035.7 Carrying amount at 31 December 2020  39.2  160.7  2,846.2  43.5  709.3  3,798.9 Movements: Additions  \u2013  4.0  54.8  2.8  419.7  481.3 Disposals  - 0.3  - 0.6  - 2.8  0.1  0.1  - 3.5 Reclassification to assets held for sale/divestments  3.6  - 17.9  - 6.6  - 83.2  - 3.3  - 12.3  - 123.3 Reclassification  \u2013  27.1  729.3  25.5  - 785.0  - 3.1 Reclassification to finance lease  9.2  \u2013  \u2013  - 104.1  \u2013  \u2013  - 104.1 Depreciation  3.7  \u2013  - 14.3  - 249.4  - 10.6  \u2013  - 274.3 Impairment  3.8  \u2013  - 2.4  - 52.5  - 0.2  \u2013  - 55.1 Exchange differences  2.8  4.0  83.6  2.0  25.7  118.1 Carrying amount at 31 December 2021  23.8  171.9  3,221.9  59.8  357.5  3,834.9 Purchase price of operating assets  23.8  348.4  6,312.3  156.2  357.5  7,198.2 Accumulated depreciation and impairment  \u2013  - 176.5  - 3,090.4  - 96.4  \u2013  - 3,363.3 Carrying amount at 31 December 2021  23.8  171.9  3,221.9  59.8  357.5  3,834.9 Movements: Additions  \u2013  1.8  9.4  1.9  356.9  370.0 Disposals  \u2013  0.1  - 1.7  - 0.2  - 0.4  - 2.2 Reclassification to assets held for sale/divestments  3.6  \u2013  - 0.1  0.5  - 0.6  - 26.9  - 27.1 Reclassification  \u2013  7.5  311.4  6.8  - 324.9  0.8 Depreciation  3.7  \u2013  - 14.3  - 252.0  - 11.0  \u2013  - 277.3 Impairment  3.8  \u2013  - 22.4  - 425.0  - 1.2  \u2013  - 448.6 Exchange differences  1.8  3.0  81.6  2.0  7.7  96.1 Carrying amount at 31 December 2022  25.6  147.5  2,946.1  57.5  369.9  3,546.6 Purchase price of operating assets  25.6  363.6  6,768.2  164.5  369.9  7,691.8 Accumulated depreciation and impairment  \u2013  - 216.1  - 3,822.1  - 107.0  \u2013  - 4,145.2 Carrying amount at 31 December 2022  25.6  147.5  2,946.1  57.5  369.9  3,546.6 For an overview of investment commitments of the Group in relation to property, plant and equipment reference is made to note 9.7. Movements in right-of-use assets and related lease liabilities Set out below, are the carrying amounts of the Group\u2019s leased (right-of-use) assets and lease liabilities and the movements during the period. Tank storage Machinery and Lease   In EUR millions Note  Land  Buildings terminals equipment  Total liabilities Purchase price of operating assets  631.0  41.7  6.5  13.1  692.3  \u2013 Accumulated depreciation and impairment  - 50.1  - 3.7  - 1.0  - 5.3  - 60.1  \u2013 Opening balance at 31 December 2020  580.9  38.0  5.5  7.8  632.2  - 699.2 Movements: Additions  \u2013  1.7  \u2013  5.6  7.3  - 7.3 Depreciation  3.7  - 30.8  - 4.2  - 0.5  - 4.4  - 39.9  \u2013 Remeasurement  44.7  0.6  - 0.4  1.1  46.0  - 46.0 Unwinding interest  5.6  \u2013  \u2013  \u2013  \u2013  \u2013  - 22.4 Payments  \u2013  \u2013  \u2013  \u2013  \u2013  56.7 Divestments/reclassification to assets held for sale  3.6  - 21.7  - 0.7  \u2013  \u2013  - 22.4  26.5 Reclassifications  0.9  - 0.6  - 0.9  \u2013  - 0.6  \u2013 Exchange rate differences  17.1  0.2  0.3  \u2013  17.6  - 19.6 Carrying amount at 31 December 2021  591.1  35.0  4.0  10.1  640.2  - 711.3 Purchase price of operating assets  669.5  42.4  5.4  18.1  735.4  \u2013 Accumulated depreciation and impairment  - 78.4  - 7.4  - 1.4  - 8.0  - 95.2  \u2013 Carrying amount at 31 December 2021  591.1  35.0  4.0  10.1  640.2  - 711.3 Movements: Additions  39.0  1.0  \u2013  8.3  48.3  - 48.3 Depreciation  3.7  - 32.5  - 4.1  - 0.6  - 4.7  - 41.9  \u2013 Remeasurement  25.7  2.8  0.5  0.1  29.1  - 29.1 Unwinding interest  5.6  \u2013  \u2013  \u2013  \u2013  \u2013  - 23.2 Payments  \u2013  \u2013  \u2013  \u2013  \u2013  64.1 Divestments/reclassification to assets held for sale  3.6  - 38.2  - 1.5  \u2013  - 0.1  - 39.8  39.3 Exchange rate differences  12.5  0.2  \u2013  \u2013  12.7  - 16.5 Carrying amount at 31 December 2022  597.6  33.4  3.9  13.7  648.6  - 725.0 Purchase price of operating assets  709.7  42.7  5.9  24.0  782.3  \u2013 Accumulated depreciation and impairment  - 112.1  - 9.3  - 2.0  - 10.3  - 133.7  \u2013 Carrying amount at 31 December 2022  597.6  33.4  3.9  13.7  648.6  - 725.0 Property, plant and equipment  The discount rates used in calculating assets\u2019 value in use are reassessed annually. The pre-tax discount rates used for the value in use assessment of impaired cash-generating units ranged from 6.5% to 12.1% (2021: 9% to 9.2%) reflecting the current market assessments for the relevant geographical locations. Vopak\u2019s share of the recoverable amount of the impaired cash-generating units in total is EUR 858 million (2021: EUR 210 million). Cancelled projects 2022 Business development project Belgium (impairment)  A business development project for the Belgium terminal Eurotank has been impaired in the first half of 2022 following Vopak\u2019s decision to discontinue the project. The impairment for this project amounted to EUR 1.7 million or EUR 1.3 million net of income taxes. 2021 There were no material impairments related to cancelled projects in 2021. Terminals in operation Based on consistently applied methodology, management has assessed that the value in usefor a very limited number of terminals in operation, is lower than the carrying amount. For these individual terminals, also the fair value less cost of disposal has been considered in order to assess whether this value exceeds the value in use and the carrying amount of the assets. In such situations, the fair value less cost of disposal for terminals or assets which are actively being marketed by the company, may be based primarily on offers received from interested parties (level 2 fair value). The value in use assessments may change over time, among others due to changes in the business environment and/or outcome of decisions taken by management, and when applicable could result in (reversal of) impairment. For impaired cash-generated units recoverable amount resulted from the value-in-use calculation exceeded the estimated fair value less cost of disposal. 2022 Europoort terminals in the Netherlands (impairment)  In the first half year of 2022, for the cash-generating unit Europoort, an impairment of EUR 240 million was recognized. By accelerating into new energies and repurposing some of its assets, the terminal will reduce its capacity by 2030 and will use the available land for new energy investments. Over time, this will reduce Vopak\u2019s exposure in oil assets in line with our ambition to increase the relative exposure of industrials, gas and new energies. Transition in the energy markets is expected to impact the long-term revenue prospects of Europoort, in addition to current dynamics related to inflation pressure, utility prices, labor and material costs. The combined impact of these items, caused the CGU\u2019s carrying amount to exceed its recoverable amount leading to an impairment. Botlek terminals in the Netherlands (impairment)  In the first half year of 2022, an impairment of EUR 190 million was recorded for the   cash-generating unit Botlek. The Botlek CGU is performing below Vopak\u2019s minimum return levels which is driven by lower revenue projections in addition to challenging conditions related to among others inflation pressure, utility prices and labor costs. Vopak Colombia terminals in Colombia (impairment)  In the fourth quarter of 2022, an impairment of EUR 17.1 million was recorded for the cash-generating unit. The decrease in recoverable value is primarily related to the business environment in which the terminals currently operate and forecasted competition. 2021 Vopak Bahia las Minas terminal in Panama (impairment)  In the fourth quarter of 2020, an impairment was recognized for the Vopak Bahia las Minas terminal in Panama for an amount of EUR 42.9 million. The impairment is primarily related to the business environment in which the terminal currently operates. Slow progress with offshore bunkering opportunities is limiting the demand and the growth potential of the Atlantic bunker market in Panama. In the first half year of 2021, an incremental impairment was recognized for the Vopak Bahia las Minas terminal in Panama for the amount of EUR 71.0 million. This impairment is the result of a further deteriorating business environment and lower occupancy rates. ",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfPropertyPlantAndEquipmentExplanatory",
    "language": "en",
    "entity": "scheme:724500UL634GFV1KYF10",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
   }
  },
  "pp-value-68-4": {
   "value": "Note 3.3 Property, plant and equipment - owned assets A Accounting policies Property, plant and equipment mainly relate to the owned terminals assets of the company which are used to service the customers in the various countries where the Group operates. Property, plant and equipment are broken down into their components and carried at historical cost, net of accumulated straight-line depreciation and less any impairment losses. Interest during construction is capitalized (see also note 5.6). Historical cost includes the initial acquisition cost plus other direct acquisition costs (such as unrecoverable taxes or transport) and construction costs that can be allocated directly (such as hours of own employees and advisory fees). To the extent that dismantling obligations exist at the end of the useful life, these estimated costs and any amendments thereto are included in the cost of the assets.  Subsequent costs are included in the asset\u2019s carrying amount or recognized as a separate asset, as appropriate, only when it is probable that future economic benefits associated with the item will flow to the Group and the cost of the item can be measured reliably. The carrying amount of the replaced part is derecognized. Costs of repairs and maintenance that do not increase the future economic benefits and are part of the day-to-day servicing  of the assets are recognized as expenses. ",
   "dimensions": {
    "concept": "ifrs-full:DescriptionOfAccountingPolicyForPropertyPlantAndEquipmentExplanatory",
    "language": "en",
    "entity": "scheme:724500UL634GFV1KYF10",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
   }
  },
  "pp-value-70-2": {
   "value": "Note 3.4 Leases A<span class=\"_ _1e\"> </span><span class=\"ff3 fs9\">Accounting policies </span>In line with the nature of its activities, the Group has a large portf<span class=\"_ _7\"/>olio of long-term land leases and leases of other non-current assets suc<span class=\"_ _3\"/>h as jet<span class=\"_ _7\"/>ties, of<span class=\"_ _7\"/>fices and other equipment. Most of the contracts contain extension options. Contracts typically cont<span class=\"_ _5\"/>ain both lease and non-lease components. <span class=\"_ _9\"/>T<span class=\"_ _7\"/>he Group allocates the consideration in the contract to the lease and non-lease components based on their relative stand-alone prices. <span class=\"_ _9\"/>The non-lease components are normally relativ<span class=\"_ _7\"/>ely small. Lease terms are negotiated on an individual basis and contain a wide range of dif<span class=\"_ _7\"/>f<span class=\"_ _7\"/>erent terms and conditions. <span class=\"_ _9\"/>T<span class=\"_ _7\"/>he lease agreements in general do not impose any co<span class=\"_ _7\"/>venants other than the security interests in the leased assets that are held by the lessor<span class=\"_ _3\"/>. Leased assets cannot be used as security for borro<span class=\"_ _7\"/>wing purposes by the Group. Determining the right-of-use asset and the lease liability <span class=\"ff1\"> </span>Assets and liabilities arising from a lease are initially measured on a present v<span class=\"_ _7\"/>alue basis. Lease liabilities include the net present v<span class=\"_ _7\"/>alue of the follo<span class=\"_ _7\"/>wing lease payments: \u2022 <span class=\"_ _19f\"> </span><span class=\"fc1\">fixed pa<span class=\"_ _7\"/>yments (including in-substance fixed payments), less an<span class=\"_ _7\"/>y lease incentives </span>receivable \u2022 <span class=\"_ _19f\"> </span><span class=\"fc1\">variable lease pa<span class=\"_ _7\"/>yment that are based on an index or a rate, initially measured using the </span>index or rate as at the commencement date \u2022 <span class=\"_ _19f\"> </span><span class=\"fc1\">amounts expected to be pa<span class=\"_ _7\"/>yable b<span class=\"_ _7\"/>y the group under residual value guarantees (normally </span>not present) \u2022 <span class=\"_ _19f\"> </span><span class=\"fc1\">the ex<span class=\"_ _7\"/>ercise price of a purc<span class=\"_ _3\"/>hase option if the group is reasonably cert<span class=\"_ _5\"/>ain to ex<span class=\"_ _7\"/>ercise that </span>option, and \u2022 <span class=\"_ _19f\"> </span><span class=\"fc1\">payments of penalties f<span class=\"_ _7\"/>or terminating the lease, if the lease term reflects the group </span>ex<span class=\"_ _7\"/>ercising that option. When it is reasonably certain that a lease extension option will be ex<span class=\"_ _7\"/>ercised, lease payments that are to be made under these extension options are also included in the measurement of the liability<span class=\"_ _3\"/>. Determining the discount rate <span class=\"ff1\"> </span>The lease pa<span class=\"_ _7\"/>yments are in almost all instances discounted using the increment<span class=\"_ _5\"/>al borrowing rate of the <span class=\"_ _3\"/>V<span class=\"_ _9\"/>opak entit<span class=\"_ _5\"/>y entering into the lease. <span class=\"_ _9\"/>T<span class=\"_ _7\"/>his is because the interest rate implicit in the lease can in most instances not be readily determined. <span class=\"_ _9\"/>The incremental borrowing rate is the rate that the individual entity would hav<span class=\"_ _7\"/>e to pay to borro<span class=\"_ _3\"/>w the funds necessar<span class=\"_ _5\"/>y to obt<span class=\"_ _5\"/>ain an asset of similar value to the right-of-use asset, in a similar economic en<span class=\"_ _7\"/>vironment with similar terms, security and conditions. Lease e<span class=\"_ _7\"/>xpenses <span class=\"ff1\"> </span>Lease pa<span class=\"_ _7\"/>yments are allocated between a principal and interest expense. <span class=\"_ _8\"/>The interest expense is c<span class=\"_ _3\"/>harged to profit or loss ov<span class=\"_ _7\"/>er the lease period to produce a constant periodic rate of interest on the remaining balance of the liability for eac<span class=\"_ _3\"/>h period. Right-of-use assets are depreciated ov<span class=\"_ _7\"/>er the shorter of the asset\u2019<span class=\"_ _9\"/>s useful life and the lease term on a straight-line basis. If the Group is reasonably certain to exercise a purc<span class=\"_ _3\"/>hase option, the right-of-use asset is depreciated ov<span class=\"_ _7\"/>er the underlying asset\u2019<span class=\"_ _9\"/>s useful life. Short-term and low<span class=\"_ _3\"/>-value leases <span class=\"ff1\"> </span>P<span class=\"_ _7\"/>ayments associated with short-term leases and all leases of low<span class=\"_ _3\"/>-value assets are recognized on a straight-line basis as an e<span class=\"_ _7\"/>xpense in profit or loss. Short-term leases are leases with a lease term of 1<span class=\"_ _3\"/>2 months or less. Low<span class=\"_ _3\"/>-value assets primarily comprise IT and communication equipment and small items of of<span class=\"_ _7\"/>fice furniture. Short-term leases ma<span class=\"_ _3\"/>y also relate to long-term (land) leases for whic<span class=\"_ _3\"/>h the original maximum contract term has expired and a new contract is cur<span class=\"_ _7\"/>rently under negotiation. The risks associated with leases <span class=\"ff1\"> </span>The group is e<span class=\"_ _7\"/>xposed to the risk of potential future increases in the periodic lease pa<span class=\"_ _7\"/>yments based on an index or rate, whic<span class=\"_ _3\"/>h are not included in the lease liability until they take ef<span class=\"_ _7\"/>f<span class=\"_ _7\"/>ect. When suc<span class=\"_ _3\"/>h adjustments to lease payments occur<span class=\"_ _3\"/>, the lease liability is reassessed and adjusted against the right-of-use asset. F<span class=\"_ _3\"/>urthermore, the Group also runs the risks that critical lease contracts expire and cannot be renew<span class=\"_ _7\"/>ed. In suc<span class=\"_ _3\"/>h inst<span class=\"_ _5\"/>ances the Group has to decommission the terminal by either handing ov<span class=\"_ _7\"/>er the site together with the assets to the lessor<span class=\"_ _3\"/>, or by demolishing the assets, cleaning up the site and handing ov<span class=\"_ _7\"/>er the site to the lessor<span class=\"_ _3\"/>. In most instances the Group is able to enter into a new lease contract, y<span class=\"_ _7\"/>et frequently at higher rates. <span class=\"ff3 fsc\">Ke<span class=\"_ _7\"/>y accounting estimates and judgments </span>Determining the term of a lease contract <span class=\"ff1\"> </span>Extension and termination options are included in most lease contracts held by the Group. <span class=\"_ _8\"/>These options are used to maximize operational fle<span class=\"_ _7\"/>xibility in terms of managing the assets used in the Group\u2019<span class=\"_ _9\"/>s operations. <span class=\"_ _9\"/>The majority of extension and termination options held are ex<span class=\"_ _7\"/>ercisable only by the Group and not by the respectiv<span class=\"_ _7\"/>e lessor<span class=\"_ _3\"/>. <span class=\"_ _9\"/>This is explicitly the case f<span class=\"_ _7\"/>or the land lease contracts. In determining the lease term, management considers all facts and circumstances that create an economic incentive to e<span class=\"_ _7\"/>xercise an extension option, or to not e<span class=\"_ _7\"/>xercise a termination option. Extension options (or periods af<span class=\"_ _7\"/>ter termination options) are only included in the lease term if the lease is reasonably certain to be extended (or not terminated).   F<span class=\"_ _7\"/>or leases of land, sea and jet<span class=\"_ _7\"/>ties the follo<span class=\"_ _7\"/>wing factors are normally the most relev<span class=\"_ _7\"/>ant: \u2022 <span class=\"_ _192\"> </span><span class=\"fc1\">Remaining useful liv<span class=\"_ _7\"/>es of the t<span class=\"_ _5\"/>ank terminal assets whic<span class=\"_ _3\"/>h depend on the lease term of   </span>the lease contract \u2022 <span class=\"_ _192\"> </span><span class=\"fc1\">Remaining duration of long-term customer contracts </span>\u2022 <span class=\"_ _192\"> </span><span class=\"fc1\">The amount of the penalties to terminate (or not e<span class=\"_ _7\"/>xtend) </span>\u2022 <span class=\"_ _192\"> </span><span class=\"fc1\">Other factors, including historical lease durations and the costs and business disr<span class=\"_ _7\"/>uption that is </span>expected to be incurred to replace the leased asset.  F<span class=\"_ _7\"/>or most of the land lease contracts it was assessed by management that it w<span class=\"_ _7\"/>as reasonably certain that the extension options will be ex<span class=\"_ _7\"/>ercised. <span class=\"_ _9\"/>The lease term is reassessed if an option is actually e<span class=\"_ _7\"/>xercised (or not e<span class=\"_ _7\"/>xercised) or the group becomes obliged to ex<span class=\"_ _7\"/>ercise (or not ex<span class=\"_ _7\"/>ercise) it. The assessment of reasonable certainty is only revised if a significant ev<span class=\"_ _7\"/>ent or a significant c<span class=\"_ _7\"/>hange in circumstances occurs, which af<span class=\"_ _3\"/>f<span class=\"_ _7\"/>ects this assessment, and that is within the control of the lessee.   No other material estimates and judgments are applied by the Group with regards to leases. Mov<span class=\"_ _3\"/>ements in right-of-use assets and r<span class=\"_ _3\"/>elated lease liabilities Set out below<span class=\"_ _9\"/>, are the carr<span class=\"_ _5\"/>ying amounts of the Group\u2019<span class=\"_ _9\"/>s leased (right-of-use) assets and lease liabilities and the mov<span class=\"_ _7\"/>ements during the period. T<span class=\"_ _8\"/>ank storag<span class=\"_ _7\"/>e Machinery and Lease  <span class=\"ws3\"> </span>In EUR millions<span class=\"_ _26d\"> </span>Note <span class=\"_ _18a\"> </span><span class=\"fs7 fc7\">Land <span class=\"_ _19a\"> </span>Buildings </span>ter<span class=\"_ _3\"/>minals equipment <span class=\"_ _18a\"> </span><span class=\"fc0\">T<span class=\"_ _8\"/>otal </span>liabilities Purc<span class=\"_ _3\"/>hase price of operating assets <span class=\"_ _26e\"> </span>631<span class=\"_ _9\"/>.0 <span class=\"_ _2f\"> </span>41<span class=\"_ _9\"/>.7 <span class=\"_ _1bc\"> </span>6.5 <span class=\"_ _66\"> </span>1<span class=\"_ _7\"/>3.1 <span class=\"_ _e6\"> </span>692.3 <span class=\"_ _130\"> </span>\u2013 Accumulated depreciation and impairment <span class=\"_ _256\"> </span>- 50.1 <span class=\"_ _45\"> </span>- 3.7 <span class=\"_ _2f\"> </span>- 1<span class=\"_ _9\"/>.0 <span class=\"_ _45\"> </span>- 5.3 <span class=\"_ _e6\"> </span>- 60.1 <span class=\"_ _130\"> </span>\u2013 Opening balance at 31 December 2020 <span class=\"_ _dd\"> </span>580.9 <span class=\"_ _b1\"> </span>38.0 <span class=\"_ _cb\"> </span>5.5 <span class=\"_ _81\"> </span>7<span class=\"_ _8\"/>.8 <span class=\"_ _53\"> </span><span class=\"fc0\">632.2 <span class=\"_ _15a\"> </span></span>- 699.2 Mov<span class=\"_ _7\"/>ements: Additions <span class=\"_ _265\"> </span>\u2013 <span class=\"_ _113\"> </span>1<span class=\"_ _9\"/>.7 <span class=\"_ _130\"> </span>\u2013 <span class=\"_ _db\"> </span>5.6 <span class=\"_ _80\"> </span>7<span class=\"_ _1\"/>.3 <span class=\"_ _108\"> </span>- 7<span class=\"_ _1\"/>.3 Depreciation <span class=\"_ _268\"> </span><span class=\"ff3 fc13\">3.7 <span class=\"_ _46\"> </span></span>- 30.8 <span class=\"_ _45\"> </span>- 4.2 <span class=\"_ _45\"> </span>- 0.5 <span class=\"_ _45\"> </span>- 4.4 <span class=\"_ _18a\"> </span>- 39.9 <span class=\"_ _183\"> </span>\u2013 Remeasurement <span class=\"_ _26f\"> </span>44.7 <span class=\"_ _db\"> </span>0.6 <span class=\"_ _45\"> </span>- 0.4 <span class=\"_ _113\"> </span>1<span class=\"_ _9\"/>.1 <span class=\"_ _45\"> </span>46.0 <span class=\"_ _18a\"> </span>- 46.0 Unwinding interest <span class=\"_ _270\"> </span><span class=\"ff3 fc13\">5.6 <span class=\"_ _86\"> </span></span>\u2013 <span class=\"_ _130\"> </span>\u2013 <span class=\"_ _130\"> </span>\u2013 <span class=\"_ _130\"> </span>\u2013 <span class=\"_ _183\"> </span>\u2013 <span class=\"_ _18a\"> </span>- 22.4 Pa<span class=\"_ _7\"/>yments <span class=\"_ _271\"> </span>\u2013 <span class=\"_ _130\"> </span>\u2013 <span class=\"_ _183\"> </span>\u2013 <span class=\"_ _130\"> </span>\u2013 <span class=\"_ _130\"> </span>\u2013 <span class=\"_ _45\"> </span>56.7 Divestments/reclassification to assets held f<span class=\"_ _7\"/>or sale <span class=\"_ _20f\"> </span><span class=\"ff3 fc13\">3.6 <span class=\"_ _b1\"> </span></span>- 21<span class=\"_ _9\"/>.7 <span class=\"_ _45\"> </span>- 0.7 <span class=\"_ _130\"> </span>\u2013 <span class=\"_ _183\"> </span>\u2013 <span class=\"_ _18a\"> </span>- 22.4 <span class=\"_ _45\"> </span>26.5 Reclassifications <span class=\"_ _272\"> </span>0.9 <span class=\"_ _45\"> </span>- 0.6 <span class=\"_ _45\"> </span>- 0.9 <span class=\"_ _130\"> </span>\u2013 <span class=\"_ _45\"> </span>- 0.6 <span class=\"_ _130\"> </span>\u2013 Exc<span class=\"_ _3\"/>hange rate diff<span class=\"_ _3\"/>erences <span class=\"_ _273\"> </span>1<span class=\"_ _3\"/>7<span class=\"_ _1\"/>.1 <span class=\"_ _db\"> </span>0.2 <span class=\"_ _100\"> </span>0.3 <span class=\"_ _130\"> </span>\u2013 <span class=\"_ _3f\"> </span>1<span class=\"_ _3\"/>7<span class=\"_ _1\"/>.6 <span class=\"_ _7e\"> </span>- 1<span class=\"_ _7\"/>9.6 Car<span class=\"_ _7\"/>rying amount at 31 December 2021 <span class=\"_ _274\"> </span>591<span class=\"_ _7\"/>.1 <span class=\"_ _51\"> </span>35.0 <span class=\"_ _cb\"> </span>4.0 <span class=\"_ _83\"> </span>1<span class=\"_ _7\"/>0.1 <span class=\"_ _53\"> </span><span class=\"fc0\">640.2 <span class=\"_ _87\"> </span></span>- 71<span class=\"_ _9\"/>1.3 Purc<span class=\"_ _3\"/>hase price of operating assets <span class=\"_ _275\"> </span>669.5 <span class=\"_ _45\"> </span>42.4 <span class=\"_ _db\"> </span>5.4 <span class=\"_ _189\"> </span>18.1 <span class=\"_ _e6\"> </span>735.4 <span class=\"_ _183\"> </span>\u2013 Accumulated depreciation and impairment <span class=\"_ _256\"> </span>- 78.4 <span class=\"_ _88\"> </span>- 7<span class=\"_ _1\"/>.4 <span class=\"_ _88\"> </span>- 1<span class=\"_ _8\"/>.4 <span class=\"_ _45\"> </span>- 8.0 <span class=\"_ _18a\"> </span>- 95.2 <span class=\"_ _130\"> </span>\u2013 Car<span class=\"_ _7\"/>rying amount at 31 December 2021 <span class=\"_ _274\"> </span>591<span class=\"_ _7\"/>.1 <span class=\"_ _51\"> </span>35.0 <span class=\"_ _cb\"> </span>4.0 <span class=\"_ _83\"> </span>1<span class=\"_ _7\"/>0.1 <span class=\"_ _53\"> </span><span class=\"fc0\">640.2 <span class=\"_ _87\"> </span></span>- 71<span class=\"_ _9\"/>1.3 Mov<span class=\"_ _7\"/>ements: Additions <span class=\"_ _276\"> </span>39.0 <span class=\"_ _113\"> </span>1<span class=\"_ _9\"/>.0 <span class=\"_ _130\"> </span>\u2013 <span class=\"_ _db\"> </span>8.3 <span class=\"_ _45\"> </span>48.3 <span class=\"_ _e6\"> </span>- 48.3 Depreciation <span class=\"_ _268\"> </span><span class=\"ff3 fc13\">3.7 <span class=\"_ _46\"> </span></span>- 32.5 <span class=\"_ _45\"> </span>- 4.1 <span class=\"_ _45\"> </span>- 0.6 <span class=\"_ _45\"> </span>- 4.7 <span class=\"_ _7f\"> </span>- 41<span class=\"_ _9\"/>.9 <span class=\"_ _130\"> </span>\u2013 Remeasurement <span class=\"_ _26f\"> </span>25.7 <span class=\"_ _db\"> </span>2.8 <span class=\"_ _db\"> </span>0.5 <span class=\"_ _db\"> </span>0.1 <span class=\"_ _45\"> </span>29.1 <span class=\"_ _18a\"> </span>- 29.1 Unwinding interest <span class=\"_ _270\"> </span><span class=\"ff3 fc13\">5.6 <span class=\"_ _86\"> </span></span>\u2013 <span class=\"_ _130\"> </span>\u2013 <span class=\"_ _130\"> </span>\u2013 <span class=\"_ _130\"> </span>\u2013 <span class=\"_ _183\"> </span>\u2013 <span class=\"_ _18a\"> </span>- 23.2 Pa<span class=\"_ _7\"/>yments <span class=\"_ _271\"> </span>\u2013 <span class=\"_ _130\"> </span>\u2013 <span class=\"_ _183\"> </span>\u2013 <span class=\"_ _130\"> </span>\u2013 <span class=\"_ _130\"> </span>\u2013 <span class=\"_ _45\"> </span>64.1 Divestments/reclassification to assets held f<span class=\"_ _7\"/>or sale <span class=\"_ _20f\"> </span><span class=\"ff3 fc13\">3.6 <span class=\"_ _46\"> </span></span>- 38.2 <span class=\"_ _88\"> </span>- 1<span class=\"_ _8\"/>.5 <span class=\"_ _130\"> </span>\u2013 <span class=\"_ _45\"> </span>- 0.1 <span class=\"_ _18a\"> </span>- 39.8 <span class=\"_ _45\"> </span>39.3 Exc<span class=\"_ _3\"/>hange rate diff<span class=\"_ _3\"/>erences <span class=\"_ _277\"> </span>1<span class=\"_ _7\"/>2.5 <span class=\"_ _db\"> </span>0.2 <span class=\"_ _130\"> </span>\u2013 <span class=\"_ _130\"> </span>\u2013 <span class=\"_ _189\"> </span>1<span class=\"_ _7\"/>2.7 <span class=\"_ _18a\"> </span>- 16.5 Car<span class=\"_ _7\"/>rying amount at 31 December 2022 <span class=\"_ _278\"> </span>597<span class=\"_ _8\"/>.6 <span class=\"_ _51\"> </span>33.4 <span class=\"_ _cb\"> </span>3.9 <span class=\"_ _b1\"> </span>13.7 <span class=\"_ _53\"> </span><span class=\"fc0\">648.6 <span class=\"_ _15a\"> </span></span>- 725.0 Purc<span class=\"_ _3\"/>hase price of operating assets <span class=\"_ _275\"> </span>709.7 <span class=\"_ _45\"> </span>42.7 <span class=\"_ _db\"> </span>5.9 <span class=\"_ _45\"> </span>24.0 <span class=\"_ _18a\"> </span>782.3 <span class=\"_ _183\"> </span>\u2013 Accumulated depreciation and impairment <span class=\"_ _df\"> </span>- 1<span class=\"_ _3\"/>1<span class=\"_ _7\"/>2.1 <span class=\"_ _45\"> </span>- 9.3 <span class=\"_ _45\"> </span>- 2.0 <span class=\"_ _7e\"> </span>- 1<span class=\"_ _3\"/>0.3 <span class=\"_ _8d\"> </span>- 1<span class=\"_ _7\"/>33.7 <span class=\"_ _130\"> </span>\u2013 Car<span class=\"_ _7\"/>rying amount at 31 December 2022 <span class=\"_ _278\"> </span>597<span class=\"_ _8\"/>.6 <span class=\"_ _51\"> </span>33.4 <span class=\"_ _cb\"> </span>3.9 <span class=\"_ _b1\"> </span>13.7 <span class=\"_ _53\"> </span><span class=\"fc0\">648.6 <span class=\"_ _15a\"> </span></span>- 725.0 The w<span class=\"_ _7\"/>eighted av<span class=\"_ _7\"/>erage incremental borrowing rate applied to the lease liabilities (ex<span class=\"_ _7\"/>cluding divested) recogniz<span class=\"_ _7\"/>ed at the end of 2022 was 3.2% (2021: 3.1%). <span class=\"_ _8\"/>The remaining weighted av<span class=\"_ _7\"/>erage lease term was 24.6 y<span class=\"_ _7\"/>ears at 31 December 2022 (2021: 25.0 years). The total cash outflows f<span class=\"_ _7\"/>or leases for the y<span class=\"_ _7\"/>ear presented, including short-term and low<span class=\"_ _3\"/>-value leases, amounted to EUR 68.1 million (2021: EUR 62.4 million). Amounts r<span class=\"_ _7\"/>ecognized in the income stat<span class=\"_ _7\"/>ement Set out below are the amounts recogniz<span class=\"_ _7\"/>ed in the income statement during the period. In EUR millions <span class=\"_ _12a\"> </span>2022 <span class=\"_ _7f\"> </span>2021Lo<span class=\"_ _7\"/>w-v<span class=\"_ _7\"/>alue assets lease expenses <span class=\"_ _218\"> </span>1<span class=\"_ _9\"/>.2 <span class=\"_ _113\"> </span>1<span class=\"_ _9\"/>.0 Short-term leases expenses <span class=\"_ _17d\"> </span>1<span class=\"_ _8\"/>.8 <span class=\"_ _db\"> </span>3.6 V<span class=\"_ _3\"/>ariable lease expenses <span class=\"_ _23c\"> </span>1<span class=\"_ _9\"/>.0 <span class=\"_ _113\"> </span>1<span class=\"_ _9\"/>.1 Depreciation right-of-use assets <span class=\"_ _1fb\"> </span>41<span class=\"_ _8\"/>.9 <span class=\"_ _45\"> </span>39.9 Interest expenses on lease liabilities <span class=\"_ _279\"> </span>23.2 <span class=\"_ _45\"> </span>22.4 T<span class=\"_ _8\"/>otal <span class=\"_ _247\"> </span><span class=\"fc0\">69.1 <span class=\"_ _51\"> </span></span>68.0 Matur<span class=\"_ _3\"/>ity profile of lease contr<span class=\"_ _7\"/>act portf<span class=\"_ _7\"/>olio The table below analy<span class=\"_ _7\"/>ses the Group\u2019<span class=\"_ _9\"/>s contractual lease obligations into rele<span class=\"_ _7\"/>vant mat<span class=\"_ _7\"/>urit<span class=\"_ _5\"/>y categories based on the remaining period at the end of the reporting period. It includes the nominal payments of the lease liabilities that are recogniz<span class=\"_ _7\"/>ed in the balance sheet as well as the nominal payments related to the short-term and lo<span class=\"_ _7\"/>w<span class=\"_ _7\"/>-value lease contracts. In addition, also a graph is including depicting the maturity profile of the lease contract portfolio in a graphical manner<span class=\"_ _3\"/>. &lt; 1  1 - 2  2-5  5-1<span class=\"_ _3\"/>0  1<span class=\"_ _3\"/>0-15  15-20  20-25  25-30  30-35  35-40 &gt; 40 In EUR millions year years years year years years years years years years years <span class=\"_ _b\"> </span><span class=\"fc0\">T<span class=\"_ _9\"/>otal </span>Nominal contractual lease obligation <span class=\"_ _fe\"> </span>56.8 <span class=\"_ _13\"> </span> 51<span class=\"_ _9\"/>.6 <span class=\"_ _1dc\"> </span> 1<span class=\"_ _7\"/>47 <span class=\"_ _24\"> </span> 226.5 <span class=\"_ _10a\"> </span> 1<span class=\"_ _3\"/>73 <span class=\"_ _1e\"> </span> 1<span class=\"_ _3\"/>59.9 <span class=\"_ _b3\"> </span>1<span class=\"_ _3\"/>05.7 <span class=\"_ _10b\"> </span>78.3 <span class=\"_ _1dc\"> </span>43.9 <span class=\"_ _27a\"> </span>31<span class=\"_ _9\"/>.7 <span class=\"_ _fd\"> </span>1<span class=\"_ _9\"/>1<span class=\"_ _9\"/>.7 <span class=\"_ _1d\"> </span>1<span class=\"_ _7\"/>086.1 As per 31 December 2022, there are no material lease contracts to whic<span class=\"_ _3\"/>h the Group is commit<span class=\"_ _3\"/>ted, but which ha<span class=\"_ _3\"/>ve not yet commenced. ",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfLeasesExplanatory",
    "language": "en",
    "entity": "scheme:724500UL634GFV1KYF10",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
   }
  },
  "pp-value-70-4": {
   "value": "Note 3.4 Leases A Accounting policies In line with the nature of its activities, the Group has a large portfolio of long-term land leases and leases of other non-current assets such as jetties, offices and other equipment. Most of the contracts contain extension options. Contracts typically contain both lease and non-lease components. The Group allocates the consideration in the contract to the lease and non-lease components based on their relative stand-alone prices. The non-lease components are normally relatively small. Lease terms are negotiated on an individual basis and contain a wide range of different terms and conditions. The lease agreements in general do not impose any covenants other than the security interests in the leased assets that are held by the lessor. Leased assets cannot be used as security for borrowing purposes by the Group. Determining the right-of-use asset and the lease liability  Assets and liabilities arising from a lease are initially measured on a present value basis. Lease liabilities include the net present value of the following lease payments: \u2022  fixed payments (including in-substance fixed payments), less any lease incentives receivable \u2022  variable lease payment that are based on an index or a rate, initially measured using the index or rate as at the commencement date \u2022  amounts expected to be payable by the group under residual value guarantees (normally not present) \u2022  the exercise price of a purchase option if the group is reasonably certain to exercise that option, and \u2022  payments of penalties for terminating the lease, if the lease term reflects the group exercising that option. When it is reasonably certain that a lease extension option will be exercised, lease payments that are to be made under these extension options are also included in the measurement of the liability. Determining the discount rate  The lease payments are in almost all instances discounted using the incremental borrowing rate of the Vopak entity entering into the lease. This is because the interest rate implicit in the lease can in most instances not be readily determined. The incremental borrowing rate is the rate that the individual entity would have to pay to borrow the funds necessary to obtain an asset of similar value to the right-of-use asset, in a similar economic environment with similar terms, security and conditions. Lease expenses  Lease payments are allocated between a principal and interest expense. The interest expense is charged to profit or loss over the lease period to produce a constant periodic rate of interest on the remaining balance of the liability for each period. Right-of-use assets are depreciated over the shorter of the asset\u2019s useful life and the lease term on a straight-line basis. If the Group is reasonably certain to exercise a purchase option, the right-of-use asset is depreciated over the underlying asset\u2019s useful life. Short-term and low-value leases  Payments associated with short-term leases and all leases of low-value assets are recognized on a straight-line basis as an expense in profit or loss. Short-term leases are leases with a lease term of 12 months or less. Low-value assets primarily comprise IT and communication equipment and small items of office furniture. Short-term leases may also relate to long-term (land) leases for which the original maximum contract term has expired and a new contract is currently under negotiation. The risks associated with leases  The group is exposed to the risk of potential future increases in the periodic lease payments based on an index or rate, which are not included in the lease liability until they take effect. When such adjustments to lease payments occur, the lease liability is reassessed and adjusted against the right-of-use asset. Furthermore, the Group also runs the risks that critical lease contracts expire and cannot be renewed. In such instances the Group has to decommission the terminal by either handing over the site together with the assets to the lessor, or by demolishing the assets, cleaning up the site and handing over the site to the lessor. In most instances the Group is able to enter into a new lease contract, yet frequently at higher rates. Key accounting estimates and judgments Determining the term of a lease contract  Extension and termination options are included in most lease contracts held by the Group. These options are used to maximize operational flexibility in terms of managing the assets used in the Group\u2019s operations. The majority of extension and termination options held are exercisable only by the Group and not by the respective lessor. This is explicitly the case for the land lease contracts. In determining the lease term, management considers all facts and circumstances that create an economic incentive to exercise an extension option, or to not exercise a termination option. Extension options (or periods after termination options) are only included in the lease term if the lease is reasonably certain to be extended (or not terminated).   For leases of land, sea and jetties the following factors are normally the most relevant: \u2022  Remaining useful lives of the tank terminal assets which depend on the lease term of   the lease contract \u2022  Remaining duration of long-term customer contracts \u2022  The amount of the penalties to terminate (or not extend) \u2022  Other factors, including historical lease durations and the costs and business disruption that is expected to be incurred to replace the leased asset.  For most of the land lease contracts it was assessed by management that it was reasonably certain that the extension options will be exercised. The lease term is reassessed if an option is actually exercised (or not exercised) or the group becomes obliged to exercise (or not exercise) it. The assessment of reasonable certainty is only revised if a significant event or a significant change in circumstances occurs, which affects this assessment, and that is within the control of the lessee.   No other material estimates and judgments are applied by the Group with regards to leases. ",
   "dimensions": {
    "concept": "ifrs-full:DescriptionOfAccountingPolicyForLeasesExplanatory",
    "language": "en",
    "entity": "scheme:724500UL634GFV1KYF10",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
   }
  },
  "pp-value-72-4": {
   "value": "Key accounting estimates and judgments Determining the term of a lease contract  Extension and termination options are included in most lease contracts held by the Group. These options are used to maximize operational flexibility in terms of managing the assets used in the Group\u2019s operations. The majority of extension and termination options held are exercisable only by the Group and not by the respective lessor. This is explicitly the case for the land lease contracts. In determining the lease term, management considers all facts and circumstances that create an economic incentive to exercise an extension option, or to not exercise a termination option. Extension options (or periods after termination options) are only included in the lease term if the lease is reasonably certain to be extended (or not terminated).   For leases of land, sea and jetties the following factors are normally the most relevant: \u2022  Remaining useful lives of the tank terminal assets which depend on the lease term of   the lease contract \u2022  Remaining duration of long-term customer contracts \u2022  The amount of the penalties to terminate (or not extend) \u2022  Other factors, including historical lease durations and the costs and business disruption that is expected to be incurred to replace the leased asset.  For most of the land lease contracts it was assessed by management that it was reasonably certain that the extension options will be exercised. The lease term is reassessed if an option is actually exercised (or not exercised) or the group becomes obliged to exercise (or not exercise) it. The assessment of reasonable certainty is only revised if a significant event or a significant change in circumstances occurs, which affects this assessment, and that is within the control of the lessee.   No other material estimates and judgments are applied by the Group with regards to leases. BKey accounting estimates and judgments At the end of the reporting period, management has to assess if the value of the assets will be recovered principally through a divestment transaction rather than through continued use and what the likelihood is that an asset will be divested within a year. This assessment is based on the facts and circumstances at that date. These facts and circumstances may change and could result in a situation where assets are divested, which were not classified as held for sale at year-end.When classifying non-current assets as held for sale, management makes estimates of their fair value (sales price and expected costs to sell). Depending on the nature of the non-current assets, the estimated fair value may be associated with uncertainty and possibly adjusted subsequently. Measurement of the fair value of non-current assets is categorized as level 2 in the fair value hierarchy as measurement is not based on observable market data. Key accounting estimates and judgments Useful life and residual value of property, plant and equipment  Property, plant and equipment form a substantial part of the total assets of the company, while periodic depreciation charges form a substantial part of the annual operating expenses. The useful life and residual value determined by the Executive Board based on its estimates and assumptions have a major impact on the measurement and determination of results of property, plant and equipment. The useful life of property, plant and equipment is partly estimated based on their useful productive lives, experiences related to such assets, the maintenance history and the period during which the company has the economic benefits from the utilization of the assets. Climate change, including associated legislation, may affect how, or for how long, items of property, plant and equipment may be used. However most climate-related physical risks are expected to manifest over a term that is generally longer than the maturity of most of the outstanding exposures. Periodic reviews show whether changes have occurred in estimates and assumptions as a result of which the useful life and/or residual value need to be adjusted accordingly. Such an adjustment is made prospectively.   For the key accounting estimates and judgments made with regards to the right-of-use assets recognized in relation to the leases of the Group, reference is made to note 3.4. Key accounting estimates and judgments Impairment analysis  Value in use is determined as the amount of estimated discounted future cash flows. For this purpose, assets are grouped into cash-generating units based on separately identifiable and largely independent cash flows. The cash flow projections are based on revenues, operating expenses and sustaining capital expenditures of the approved budget for the coming year and the two subsequent planning years. Cash flows beyond the previously mentioned period of three years are extrapolated, using a stable or decreasing growth rate, unless an increasing rate can be substantiated. Given that the cash flows are estimated before taxes, the discount rates used to calculate the present value of the cash flows are pre-tax rates based on the risk-free rates for bonds issued by the government in the relevant market, adjusted for a risk premium and specific risks relating to the countries and risks specific to the assets. The bonds period reflects the   average remaining useful life of the principal assets. As a company based in Europe, the Group assumes the long-term market equity risk premium to be 6.5% (2021: 6.5%).   When performing an impairment test, management makes an assessment of whether the cash-generating unit (mostly an individual terminal) will be able to generate positive net cash flows that are sufficient to support the value of the intangible assets, property, plant and equipment, and financial assets.   For value in use, the assessment is based on estimates of future expected cash flows (value in use) made on the basis of the budget for the coming year and two subsequent plan years, which form the basis for the 15-year period discounted cash flow model. Key assumptions applied are generally: the expected occupancy, the estimated storage rate per cbm (for revenues not covered by long-term contracts), sustaining capex expenditures, expected growth rates and the estimated terminal value after the 15-year period, together with the applied discount rates.   For value in use of oil assets, the assessment is impacted by the energy transition. In 2022, the cash flow forecast period of such assets is extended from a 15-year period (which continues to be used for non-oil terminals) to include the period in which the energy transition is expected to take place. Key assumptions applied are generally: the expected occupancy, the estimated storage rate per cbm (for revenues not covered by long-term contracts), sustaining capex expenditures, expected (decreasing) growth rates based on most recent IEA energy transition scenarios in  a range of -3% and -4% and the estimated terminal value together with the applied discount rates. As there is significant uncertainty on how the energy transition will impact our estimates these remain subject to constant review and monitoring.   Fair value less cost of disposal is primarily based either on comparable market-multiples and/or (indicative) (non-)binding bids or discounted cash flow models from the perspective of a willing buyer in an orderly transaction.   In certain situations, the fair value less cost of disposal of a terminal may be based on (preliminary) offers received from interested parties (level 2 fair value). Although such offers are conditional/preliminary by nature, management considers whether these offers may be representative of the fair value of the terminals concerned and assesses whether it is probable   that these terminals will be sold in the coming twelve months after the reporting period, resulting in a situation where the carrying amount will be recovered principally through a sale instead of through continued use.   These key assumptions are based on the current facts and circumstances and information available to management. By nature, these assumptions are subject to developments and change in later periods. This could potentially lead to (reversal of) impairments of individual terminals going forward. Key accounting estimates and judgments The fair value of a derivative financial instrument not traded on active markets is measured as the present value of the expected future cash flows under the contract (level 2 fair value). In determining this value, a valuation model is used that is based on the interest rates and the exchange rates as at the end of the reporting period. Reference is made to note 9.9 for more information.  BKey accounting estimates and judgments Deferred tax assets, including those arising from carry-forward losses, are recognized if it is probable that taxable profit is available against which losses can be offset. In determining this, Vopak uses estimates and assumptions that also affect the measurement of the deferred tax assets. A maturity schedule of the unrecognized carry-forward losses is shown on the next page.  Note 9.3 Macro-economic and geopolitical uncertainty  Russia-Ukraine war  The Russian invasion of Ukraine is a major humanitarian drama and we sympathize with the people who are now suffering from the violence of war.  Vopak is monitoring the situation closely and is fully committed to adhere to relevant sanctions, laws and regulations. As governments try to ensure energy security and affordability, Vopak adheres to applicable government regulations with regards to energy imports from Russia.  The Russia-Ukraine war and the international sanction regimes make the market situation volatile and uncertain. Direct impact is assessed to be mainly in Vopak\u2019s Europoort terminal and to be limited on Vopak\u2019s group level. There is, however, an indirect exposure through factors such as utility prices, inflation, market conditions and exchange rates, which was considered during the individual asset valuation performed during 2022. Vopak continues to closely monitor the developments and takes measures to adapt to the changed factors.    COVID-19 pandemic  The pandemic spread of COVID-19 (Coronavirus) has a significant impact on all people and organizations around the world. Our main focus remains on the health of the people working at our terminals, offices or at home around the world and to limit the spread of the Coronavirus, to manage the impact on our business and to assess the impact on the economy and society. Therefore, we have put global and local measures into place to protect our employees, their families and our operations based on information provided by the World Health Organization, national and local health authorities. We have monitored developments closely throughout the year and scenario-based contingency plans and other mitigating measures were ready to implement, if needed. To date, thanks to the adjustments and efforts of our people, we have observed a limited impact on our operations. All our terminals are operational and there have been no significant disruptions to business continuity.  Vopak\u2019s strategy is robust and unchanged. An effective control and governance structure to respond to the impact of the global pandemic, with continued decision making to support business execution and well-being of people, has been put in place. Operational and financial performance, cash flows and our financial position have not been significantly affected. Our financial results reflect our resilient business performance.   Our focus in these circumstances is on the short-term delivery and protection of long-term value. Vopak plays an important role within society by storing vital products with care. We are doing our utmost during the COVID-19 pandemic to continue to fulfil this role in all our work locations around the world.  Although the pandemic brings a lot of uncertainty and the estimates remain subject to future events, we expect to continue to manage our performance in line with our original business plans and unchanged strategy.  Key accounting estimates and judgments  The defined benefit obligation is determined on the basis of assumptions for future developments in variables such as salary increase, price index increase, life expectancy and discount rate. All assumptions are assessed at the reporting date. Changes in the assumptions may significantly affect the liabilities and pension costs under the defined benefit plans. The weighted average of these assumptions as well as sensitivities of key assumptions are disclosed in this note.  Key accounting estimates and judgments  The amount recognized as a provision is management\u2019s best estimate of the amount required to settle the obligation. The outcome depends on future events that are uncertain by nature. In assessing the likely outcome of lawsuits and tax disputes, management also bases its assessment on external legal assistance and established precedents.    The Group is exposed to risks regarding environmental obligations arising from past activities. For example, a number of sites have to be decontaminated before being handed back at the end of the contractual period. Under current legislation, environmental plans and any other measures to be adopted have to be agreed with local, regional and national authorities as appropriate. As soon as such plans have been approved or other legal obligations arose, a provision is formed based on the most reliable estimate of possible future expenses. Given the degree of complexity and uncertainty in making such estimates, this does not guarantee that no additional costs will arise in the future.  Note 9.10 New standards and interpretations not yet implemented  There are no new accounting standards, amendments to existing standards or new IFRIC interpretations published that are not yet effective that are expected to have a material impact on the Group in future reporting periods and on foreseeable future transactions, including:     - IFRS 17 Insurance Contracts and amendments to IFRS 17 Insurance Contracts   - Disclosure of Accounting Policies (Amendments to IAS 1 and IFRS Practice Statement 2)   - Definition of Accounting Estimates (Amendments to IAS 8)  ",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfBasisOfPreparationOfFinancialStatementsExplanatory",
    "language": "en",
    "entity": "scheme:724500UL634GFV1KYF10",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
   }
  },
  "pp-value-92-2": {
   "value": "Note 3.6 <span class=\"_ _8\"/>Assets held for sale  A<span class=\"_ _1e\"> </span><span class=\"ff3 fs9\">Accounting policies </span>Non-current assets and disposal groups are classified as held f<span class=\"_ _7\"/>or sale when their carr<span class=\"_ _5\"/>ying amount is to be recov<span class=\"_ _7\"/>ered principally through a sales transaction and a sale is considered highly probable at the end of the reporting period. <span class=\"_ _9\"/>T<span class=\"_ _7\"/>hey are stated at the low<span class=\"_ _7\"/>er value of the carr<span class=\"_ _5\"/>ying amount and the f<span class=\"_ _7\"/>air value less expected selling costs. <span class=\"_ _9\"/>When the criteria for the held for sale classification ha<span class=\"_ _7\"/>ve been met, the non-current assets subject to depreciation and amortization are no longer depreciated or amortized. In addition, equity accounting for joint vent<span class=\"_ _7\"/>ures and associates ceases once classified as held for sale. B<span class=\"ff3 fsc\">Ke<span class=\"_ _7\"/>y accounting estimates and judgments </span>At the end of the reporting period, management has to assess if the value of the assets will be recov<span class=\"_ _7\"/>ered principally through a divestment transaction rather than through continued use and what the likelihood is that an asset will be div<span class=\"_ _7\"/>ested within a year<span class=\"_ _9\"/>. <span class=\"_ _9\"/>This assessment is based on the facts and circumstances at that date. <span class=\"_ _9\"/>These f<span class=\"_ _7\"/>acts and circumstances may c<span class=\"_ _7\"/>hange and could result in a situation where assets are div<span class=\"_ _7\"/>ested, whic<span class=\"_ _7\"/>h were not classified as held f<span class=\"_ _7\"/>or sale at year<span class=\"_ _9\"/>-end.When classifying non-current assets as held for sale, management mak<span class=\"_ _7\"/>es estimates of their fair value (sales price and e<span class=\"_ _7\"/>xpected costs to sell). Depending on the nature of the non-current assets, the estimated fair v<span class=\"_ _7\"/>alue may be associated with uncertainty and possibly adjusted subsequently<span class=\"_ _7\"/>. Measurement of the fair v<span class=\"_ _7\"/>alue of non-current assets is categorized as le<span class=\"_ _7\"/>vel 2 in the f<span class=\"_ _7\"/>air value hierarc<span class=\"_ _7\"/>hy as measurement is not based on observable market data. Assets and liabilities classified as held for sale In EUR millions <span class=\"_ _22d\"> </span><span class=\"fs7 fc0\">31<span class=\"_ _3\"/>-Dec-22 <span class=\"_ _76\"> </span><span class=\"fc7\">31<span class=\"_ _7\"/>-Dec-21 </span></span>Property<span class=\"_ _3\"/>, plant and equipment <span class=\"_ _28b\"> </span>65.2 <span class=\"_ _18a\"> </span>145.7 Other non-current assets <span class=\"_ _21d\"> </span>\u2013 <span class=\"_ _45\"> </span>38.7 Current assets <span class=\"_ _229\"> </span>\u2013 <span class=\"_ _1c3\"> </span>7<span class=\"_ _1\"/>.9 T<span class=\"_ _8\"/>otal assets held for sale 65.2 <span class=\"_ _53\"> </span>192.3 Pro<span class=\"_ _7\"/>visions <span class=\"_ _259\"> </span>\u2013 <span class=\"_ _3f\"> </span>1<span class=\"_ _9\"/>1<span class=\"_ _9\"/>.1 Other non-current liabilities <span class=\"_ _24c\"> </span>38.2 <span class=\"_ _45\"> </span>32.4 Current liabilities <span class=\"_ _1bf\"> </span>\u2013 <span class=\"_ _db\"> </span>6.7 T<span class=\"_ _8\"/>otal liabilities related t<span class=\"_ _7\"/>o assets held for sale 38.2 <span class=\"_ _51\"> </span>50.2 Net assets held for sale of disposal gr<span class=\"_ _7\"/>oups <span class=\"_ _5c\"> </span><span class=\"fc0\">27<span class=\"_ _8\"/>.0 <span class=\"_ _53\"> </span><span class=\"fcb\">142.1 </span></span>F<span class=\"_ _7\"/>or the divestments realiz<span class=\"_ _7\"/>ed during the years presented, ref<span class=\"_ _3\"/>erence is made to note 3.1<span class=\"_ _9\"/>. and note 3.5. 2022 V<span class=\"_ _9\"/>opak P<span class=\"_ _7\"/>acific Canada Project <span class=\"ff1\"> </span>V<span class=\"_ _3\"/>opak Dev<span class=\"_ _7\"/>elopment Canada Inc. continues to advance de<span class=\"_ _7\"/>velopment of the <span class=\"_ _9\"/>V<span class=\"_ _3\"/>opak Pacific Canada Project as a result of third party commercial negotiations, recent regulator<span class=\"_ _5\"/>y approv<span class=\"_ _7\"/>als obtained and execution of a land lease. <span class=\"_ _7\"/>As of 31 December 2022, <span class=\"_ _9\"/>V<span class=\"_ _3\"/>opak Dev<span class=\"_ _7\"/>elopment Canada Inc. has certain capit<span class=\"_ _5\"/>alized de<span class=\"_ _7\"/>velopment costs and right-of-use asset and related lease liability for a land lease. <span class=\"_ _9\"/>T<span class=\"_ _7\"/>hese carr<span class=\"_ _5\"/>ying amounts hav<span class=\"_ _7\"/>e been classified as held for sale. Subject to a variety of factors, a sale transaction is e<span class=\"_ _7\"/>xpected to be closed in 2023. <span class=\"_ _9\"/>T<span class=\"_ _7\"/>hese assets are part of the Americas operating segment. 2021 Aegis V<span class=\"_ _9\"/>opak <span class=\"_ _7\"/><span class=\"ws3\">T<span class=\"_ _8\"/>er<span class=\"_ _7\"/>minals Ltd. <span class=\"ff1\"> </span></span>On 1<span class=\"_ _3\"/>2 July 2021, <span class=\"_ _3\"/>V<span class=\"_ _3\"/>opak announced that it has joined forces with <span class=\"_ _7\"/>A<span class=\"_ _7\"/>egis in India with the aim to grow together in the LPG and c<span class=\"_ _3\"/>hemicals storage and handling business. <span class=\"_ _9\"/>T<span class=\"_ _7\"/>he new joint vent<span class=\"_ _7\"/>ure A<span class=\"_ _3\"/>egis <span class=\"_ _3\"/>V<span class=\"_ _3\"/>opak <span class=\"_ _9\"/>T<span class=\"_ _8\"/>erminals Ltd. will operate a net<span class=\"_ _5\"/>work of 8 terminals with a total capacity of around 960 thousand cbm. <span class=\"_ _9\"/>T<span class=\"_ _7\"/>he transaction is expected to close early 2022, subject to customar<span class=\"_ _5\"/>y closing conditions. Upon closing, <span class=\"_ _3\"/>V<span class=\"_ _3\"/>opak\u2019<span class=\"_ _9\"/>s existing CRL terminal entity in Kandla will become a wholly owned subsidiary of A<span class=\"_ _7\"/>egis <span class=\"_ _9\"/>V<span class=\"_ _3\"/>opak <span class=\"_ _9\"/>T<span class=\"_ _9\"/>erminals Ltd. <span class=\"_ _9\"/>T<span class=\"_ _7\"/>his terminal was identified as held f<span class=\"_ _7\"/>or sale as per 30 June 2021<span class=\"_ _1\"/>. In addition to the net assets of CRL, an amount of EUR 1<span class=\"_ _3\"/>9.3 million of goodwill that can be allocated to the CRL terminal was classified as held for sale. <span class=\"_ _7\"/>At year<span class=\"_ _8\"/>-end the net assets held for sale for the terminal amounted to EUR 37<span class=\"_ _d\"/>.5 million and hav<span class=\"_ _7\"/>e been reported in the A<span class=\"_ _7\"/>sia &amp; Middle East operating segment. Canadian ter<span class=\"_ _3\"/>minals <span class=\"ff1\"> </span>In 2021, <span class=\"_ _3\"/>V<span class=\"_ _9\"/>opak initiated the review of the strategic options f<span class=\"_ _7\"/>or four Canadian terminals located in Hamilton, Montreal East and <span class=\"_ _3\"/>W<span class=\"_ _7\"/>est and Quebec City<span class=\"_ _3\"/>. On 4 Januar<span class=\"_ _5\"/>y 2022, <span class=\"_ _3\"/>V<span class=\"_ _3\"/>opak signed a let<span class=\"_ _3\"/>ter of intent for the sale of 1<span class=\"_ _3\"/>00% of the shares in <span class=\"_ _3\"/>V<span class=\"_ _3\"/>opak <span class=\"_ _9\"/>T<span class=\"_ _9\"/>erminals of Canada Inc. and <span class=\"_ _3\"/>V<span class=\"_ _9\"/>opak <span class=\"_ _9\"/>T<span class=\"_ _9\"/>erminals of Eastern Canada Inc. <span class=\"_ _9\"/>T<span class=\"_ _7\"/>hese terminals were identified as held f<span class=\"_ _7\"/>or sale as per 30 Nov<span class=\"_ _7\"/>ember 2021<span class=\"_ _8\"/>. In addition to the net assets of the four Canadian terminals, an amount of EUR 1<span class=\"_ _3\"/>5.8 million of goodwill that can be allocated to these terminals was classified as held for sale. <span class=\"_ _7\"/>At year<span class=\"_ _8\"/>-end the net assets held for sale for the terminals amounted to EUR 1<span class=\"_ _3\"/>04.6 million and hav<span class=\"_ _7\"/>e been reported in the Americas operating segment. Both transactions closed in the first half-y<span class=\"_ _7\"/>ear of 2022. ",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfNoncurrentAssetsOrDisposalGroupsClassifiedAsHeldForSaleExplanatory",
    "language": "en",
    "entity": "scheme:724500UL634GFV1KYF10",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
   }
  },
  "pp-value-92-3": {
   "value": "Note 3.6 <span class=\"_ _8\"/>Assets held for sale  A<span class=\"_ _1e\"> </span><span class=\"ff3 fs9\">Accounting policies </span>Non-current assets and disposal groups are classified as held f<span class=\"_ _7\"/>or sale when their carr<span class=\"_ _5\"/>ying amount is to be recov<span class=\"_ _7\"/>ered principally through a sales transaction and a sale is considered highly probable at the end of the reporting period. <span class=\"_ _9\"/>T<span class=\"_ _7\"/>hey are stated at the low<span class=\"_ _7\"/>er value of the carr<span class=\"_ _5\"/>ying amount and the f<span class=\"_ _7\"/>air value less expected selling costs. <span class=\"_ _9\"/>When the criteria for the held for sale classification ha<span class=\"_ _7\"/>ve been met, the non-current assets subject to depreciation and amortization are no longer depreciated or amortized. In addition, equity accounting for joint vent<span class=\"_ _7\"/>ures and associates ceases once classified as held for sale. Assets and liabilities classified as held for sale In EUR millions <span class=\"_ _22d\"> </span><span class=\"fs7 fc0\">31<span class=\"_ _3\"/>-Dec-22 <span class=\"_ _76\"> </span><span class=\"fc7\">31<span class=\"_ _7\"/>-Dec-21 </span></span>Property<span class=\"_ _3\"/>, plant and equipment <span class=\"_ _28b\"> </span>65.2 <span class=\"_ _18a\"> </span>145.7 Other non-current assets <span class=\"_ _21d\"> </span>\u2013 <span class=\"_ _45\"> </span>38.7 Current assets <span class=\"_ _229\"> </span>\u2013 <span class=\"_ _1c3\"> </span>7<span class=\"_ _1\"/>.9 T<span class=\"_ _8\"/>otal assets held for sale 65.2 <span class=\"_ _53\"> </span>192.3 Pro<span class=\"_ _7\"/>visions <span class=\"_ _259\"> </span>\u2013 <span class=\"_ _3f\"> </span>1<span class=\"_ _9\"/>1<span class=\"_ _9\"/>.1 Other non-current liabilities <span class=\"_ _24c\"> </span>38.2 <span class=\"_ _45\"> </span>32.4 Current liabilities <span class=\"_ _1bf\"> </span>\u2013 <span class=\"_ _db\"> </span>6.7 T<span class=\"_ _8\"/>otal liabilities related t<span class=\"_ _7\"/>o assets held for sale 38.2 <span class=\"_ _51\"> </span>50.2 Net assets held for sale of disposal gr<span class=\"_ _7\"/>oups <span class=\"_ _5c\"> </span><span class=\"fc0\">27<span class=\"_ _8\"/>.0 <span class=\"_ _53\"> </span><span class=\"fcb\">142.1 </span></span>F<span class=\"_ _7\"/>or the divestments realiz<span class=\"_ _7\"/>ed during the years presented, ref<span class=\"_ _3\"/>erence is made to note 3.1<span class=\"_ _9\"/>. and note 3.5. 2022 V<span class=\"_ _9\"/>opak P<span class=\"_ _7\"/>acific Canada Project <span class=\"ff1\"> </span>V<span class=\"_ _3\"/>opak Dev<span class=\"_ _7\"/>elopment Canada Inc. continues to advance de<span class=\"_ _7\"/>velopment of the <span class=\"_ _9\"/>V<span class=\"_ _3\"/>opak Pacific Canada Project as a result of third party commercial negotiations, recent regulator<span class=\"_ _5\"/>y approv<span class=\"_ _7\"/>als obtained and execution of a land lease. <span class=\"_ _7\"/>As of 31 December 2022, <span class=\"_ _9\"/>V<span class=\"_ _3\"/>opak Dev<span class=\"_ _7\"/>elopment Canada Inc. has certain capit<span class=\"_ _5\"/>alized de<span class=\"_ _7\"/>velopment costs and right-of-use asset and related lease liability for a land lease. <span class=\"_ _9\"/>T<span class=\"_ _7\"/>hese carr<span class=\"_ _5\"/>ying amounts hav<span class=\"_ _7\"/>e been classified as held for sale. Subject to a variety of factors, a sale transaction is e<span class=\"_ _7\"/>xpected to be closed in 2023. <span class=\"_ _9\"/>T<span class=\"_ _7\"/>hese assets are part of the Americas operating segment. 2021 Aegis V<span class=\"_ _9\"/>opak <span class=\"_ _7\"/><span class=\"ws3\">T<span class=\"_ _8\"/>er<span class=\"_ _7\"/>minals Ltd. <span class=\"ff1\"> </span></span>On 1<span class=\"_ _3\"/>2 July 2021, <span class=\"_ _3\"/>V<span class=\"_ _3\"/>opak announced that it has joined forces with <span class=\"_ _7\"/>A<span class=\"_ _7\"/>egis in India with the aim to grow together in the LPG and c<span class=\"_ _3\"/>hemicals storage and handling business. <span class=\"_ _9\"/>T<span class=\"_ _7\"/>he new joint vent<span class=\"_ _7\"/>ure A<span class=\"_ _3\"/>egis <span class=\"_ _3\"/>V<span class=\"_ _3\"/>opak <span class=\"_ _9\"/>T<span class=\"_ _8\"/>erminals Ltd. will operate a net<span class=\"_ _5\"/>work of 8 terminals with a total capacity of around 960 thousand cbm. <span class=\"_ _9\"/>T<span class=\"_ _7\"/>he transaction is expected to close early 2022, subject to customar<span class=\"_ _5\"/>y closing conditions. Upon closing, <span class=\"_ _3\"/>V<span class=\"_ _3\"/>opak\u2019<span class=\"_ _9\"/>s existing CRL terminal entity in Kandla will become a wholly owned subsidiary of A<span class=\"_ _7\"/>egis <span class=\"_ _9\"/>V<span class=\"_ _3\"/>opak <span class=\"_ _9\"/>T<span class=\"_ _9\"/>erminals Ltd. <span class=\"_ _9\"/>T<span class=\"_ _7\"/>his terminal was identified as held f<span class=\"_ _7\"/>or sale as per 30 June 2021<span class=\"_ _1\"/>. In addition to the net assets of CRL, an amount of EUR 1<span class=\"_ _3\"/>9.3 million of goodwill that can be allocated to the CRL terminal was classified as held for sale. <span class=\"_ _7\"/>At year<span class=\"_ _8\"/>-end the net assets held for sale for the terminal amounted to EUR 37<span class=\"_ _d\"/>.5 million and hav<span class=\"_ _7\"/>e been reported in the A<span class=\"_ _7\"/>sia &amp; Middle East operating segment. Canadian ter<span class=\"_ _3\"/>minals <span class=\"ff1\"> </span>In 2021, <span class=\"_ _3\"/>V<span class=\"_ _9\"/>opak initiated the review of the strategic options f<span class=\"_ _7\"/>or four Canadian terminals located in Hamilton, Montreal East and <span class=\"_ _3\"/>W<span class=\"_ _7\"/>est and Quebec City<span class=\"_ _3\"/>. On 4 Januar<span class=\"_ _5\"/>y 2022, <span class=\"_ _3\"/>V<span class=\"_ _3\"/>opak signed a let<span class=\"_ _3\"/>ter of intent for the sale of 1<span class=\"_ _3\"/>00% of the shares in <span class=\"_ _3\"/>V<span class=\"_ _3\"/>opak <span class=\"_ _9\"/>T<span class=\"_ _9\"/>erminals of Canada Inc. and <span class=\"_ _3\"/>V<span class=\"_ _9\"/>opak <span class=\"_ _9\"/>T<span class=\"_ _9\"/>erminals of Eastern Canada Inc. <span class=\"_ _9\"/>T<span class=\"_ _7\"/>hese terminals were identified as held f<span class=\"_ _7\"/>or sale as per 30 Nov<span class=\"_ _7\"/>ember 2021<span class=\"_ _8\"/>. In addition to the net assets of the four Canadian terminals, an amount of EUR 1<span class=\"_ _3\"/>5.8 million of goodwill that can be allocated to these terminals was classified as held for sale. <span class=\"_ _7\"/>At year<span class=\"_ _8\"/>-end the net assets held for sale for the terminals amounted to EUR 1<span class=\"_ _3\"/>04.6 million and hav<span class=\"_ _7\"/>e been reported in the Americas operating segment. Both transactions closed in the first half-y<span class=\"_ _7\"/>ear of 2022. ",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfNoncurrentAssetsHeldForSaleAndDiscontinuedOperationsExplanatory",
    "language": "en",
    "entity": "scheme:724500UL634GFV1KYF10",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
   }
  },
  "pp-value-92-5": {
   "value": "Note 3.6 Assets held for sale  A Accounting policies Non-current assets and disposal groups are classified as held for sale when their carrying amount is to be recovered principally through a sales transaction and a sale is considered highly probable at the end of the reporting period. They are stated at the lower value of the carrying amount and the fair value less expected selling costs. When the criteria for the held for sale classification have been met, the non-current assets subject to depreciation and amortization are no longer depreciated or amortized. In addition, equity accounting for joint ventures and associates ceases once classified as held for sale. BKey accounting estimates and judgments At the end of the reporting period, management has to assess if the value of the assets will be recovered principally through a divestment transaction rather than through continued use and what the likelihood is that an asset will be divested within a year. This assessment is based on the facts and circumstances at that date. These facts and circumstances may change and could result in a situation where assets are divested, which were not classified as held for sale at year-end.When classifying non-current assets as held for sale, management makes estimates of their fair value (sales price and expected costs to sell). Depending on the nature of the non-current assets, the estimated fair value may be associated with uncertainty and possibly adjusted subsequently. Measurement of the fair value of non-current assets is categorized as level 2 in the fair value hierarchy as measurement is not based on observable market data. ",
   "dimensions": {
    "concept": "ifrs-full:DescriptionOfAccountingPolicyForNoncurrentAssetsOrDisposalGroupsClassifiedAsHeldForSaleExplanatory",
    "language": "en",
    "entity": "scheme:724500UL634GFV1KYF10",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
   }
  },
  "pp-value-92-6": {
   "value": "Note 3.6 Assets held for sale  A Accounting policies Non-current assets and disposal groups are classified as held for sale when their carrying amount is to be recovered principally through a sales transaction and a sale is considered highly probable at the end of the reporting period. They are stated at the lower value of the carrying amount and the fair value less expected selling costs. When the criteria for the held for sale classification have been met, the non-current assets subject to depreciation and amortization are no longer depreciated or amortized. In addition, equity accounting for joint ventures and associates ceases once classified as held for sale. ",
   "dimensions": {
    "concept": "ifrs-full:DescriptionOfAccountingPolicyForNoncurrentAssetsOrDisposalGroupsClassifiedAsHeldForSaleAndDiscontinuedOperationsExplanatory",
    "language": "en",
    "entity": "scheme:724500UL634GFV1KYF10",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
   }
  },
  "pp-value-98-5": {
   "value": "Note 3.7 Depreciation and amortization A Accounting policies The expected useful life of software intangible assets is normally subject to a maximum of seven years. Amortization of other intangible assets and licenses is based on the term of the validity of the contract or term of the validity period and varies from 5-30 years. Depreciation of property, plant and equipment is computed from the date the asset is available for use, using the straight-line method over the expected useful life and taking the estimated residual value into account. The useful life of the main assets is as follows: \u2022  for buildings 10-40 years \u2022  for main components of tank storage terminals 10-40 years \u2022  for IT hardware 3-5 years \u2022  for machinery, equipment and fixtures 3-10 years.  \u2022  Land is not depreciated.  The residual value and useful life of intangible assets and property, plant and equipment are reviewed annually and adjusted if necessary. For the accounting policies related to the amortization of the right-of-use assets recognized in relation to the leases of the Group, reference is made to note 3.4. Key accounting estimates and judgments Useful life and residual value of property, plant and equipment  Property, plant and equipment form a substantial part of the total assets of the company, while periodic depreciation charges form a substantial part of the annual operating expenses. The useful life and residual value determined by the Executive Board based on its estimates and assumptions have a major impact on the measurement and determination of results of property, plant and equipment. The useful life of property, plant and equipment is partly estimated based on their useful productive lives, experiences related to such assets, the maintenance history and the period during which the company has the economic benefits from the utilization of the assets. Climate change, including associated legislation, may affect how, or for how long, items of property, plant and equipment may be used. However most climate-related physical risks are expected to manifest over a term that is generally longer than the maturity of most of the outstanding exposures. Periodic reviews show whether changes have occurred in estimates and assumptions as a result of which the useful life and/or residual value need to be adjusted accordingly. Such an adjustment is made prospectively.   For the key accounting estimates and judgments made with regards to the right-of-use assets recognized in relation to the leases of the Group, reference is made to note 3.4. Depreciation and amortization In EUR millions  Note  2022  2021 Amortization intangible assets  3.2  20.7  17.6 Depreciation owned assets  3.3  277.3  274.3 Depreciation right-of-use assets  3.4  41.9  39.9 Total  339.9  331.8 ",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfDepreciationAndAmortisationExpenseExplanatory",
    "language": "en",
    "entity": "scheme:724500UL634GFV1KYF10",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
   }
  },
  "pp-value-98-7": {
   "value": "Note 3.7 Depreciation and amortization A Accounting policies The expected useful life of software intangible assets is normally subject to a maximum of seven years. Amortization of other intangible assets and licenses is based on the term of the validity of the contract or term of the validity period and varies from 5-30 years. Depreciation of property, plant and equipment is computed from the date the asset is available for use, using the straight-line method over the expected useful life and taking the estimated residual value into account. The useful life of the main assets is as follows: \u2022  for buildings 10-40 years \u2022  for main components of tank storage terminals 10-40 years \u2022  for IT hardware 3-5 years \u2022  for machinery, equipment and fixtures 3-10 years.  \u2022  Land is not depreciated.  The residual value and useful life of intangible assets and property, plant and equipment are reviewed annually and adjusted if necessary. For the accounting policies related to the amortization of the right-of-use assets recognized in relation to the leases of the Group, reference is made to note 3.4. Key accounting estimates and judgments Useful life and residual value of property, plant and equipment  Property, plant and equipment form a substantial part of the total assets of the company, while periodic depreciation charges form a substantial part of the annual operating expenses. The useful life and residual value determined by the Executive Board based on its estimates and assumptions have a major impact on the measurement and determination of results of property, plant and equipment. The useful life of property, plant and equipment is partly estimated based on their useful productive lives, experiences related to such assets, the maintenance history and the period during which the company has the economic benefits from the utilization of the assets. Climate change, including associated legislation, may affect how, or for how long, items of property, plant and equipment may be used. However most climate-related physical risks are expected to manifest over a term that is generally longer than the maturity of most of the outstanding exposures. Periodic reviews show whether changes have occurred in estimates and assumptions as a result of which the useful life and/or residual value need to be adjusted accordingly. Such an adjustment is made prospectively.   For the key accounting estimates and judgments made with regards to the right-of-use assets recognized in relation to the leases of the Group, reference is made to note 3.4. ",
   "dimensions": {
    "concept": "ifrs-full:DescriptionOfAccountingPolicyForDepreciationExpenseExplanatory",
    "language": "en",
    "entity": "scheme:724500UL634GFV1KYF10",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
   }
  },
  "pp-value-103-2": {
   "value": "Note 3.8 Impair<span class=\"_ _3\"/>ment tests and impair<span class=\"_ _3\"/>ments A<span class=\"_ _1e\"> </span><span class=\"ff3 fs9\">Accounting policies </span>The car<span class=\"_ _7\"/>r<span class=\"_ _5\"/>ying amount of goodwill is tested for impairment annually in the fourth quarter (unless there is reason to do so more frequently), while all assets are tested for impairment whenev<span class=\"_ _7\"/>er ev<span class=\"_ _7\"/>ents or c<span class=\"_ _7\"/>hanges in circumstances indicate that the carr<span class=\"_ _5\"/>ying amounts for those assets may not be reco<span class=\"_ _7\"/>verable. If it is determined that assets are impaired, the carrying amounts of those assets are writ<span class=\"_ _3\"/>ten down to their recov<span class=\"_ _7\"/>erable amount, whic<span class=\"_ _7\"/>h is the higher of fair v<span class=\"_ _7\"/>alue less costs of disposal and value in use.  Impairments of a cash-generating unit are allocated to individual assets of the   cash-generating unit on a proportionate basis. Impairments of intangible assets and   property<span class=\"_ _3\"/>, plant and equipment are presented in the st<span class=\"_ _5\"/>atement of income under Impairment. Impairments, ex<span class=\"_ _7\"/>cept those related to goodwill, are rev<span class=\"_ _7\"/>ersed as applicable to the extent   that the ev<span class=\"_ _7\"/>ents or circumstances that triggered the original impairment have c<span class=\"_ _3\"/>hanged.  All financial assets, including joint vent<span class=\"_ _7\"/>ures and associates, are revie<span class=\"_ _7\"/>wed f<span class=\"_ _7\"/>or impairment. If there is objective e<span class=\"_ _7\"/>vidence of impairment as a result of one or more ev<span class=\"_ _7\"/>ents af<span class=\"_ _7\"/>ter initial recognition, an impairment loss is recognized in the statement of income. <span class=\"_ _9\"/>T<span class=\"_ _7\"/>he impairments for joint v<span class=\"_ _7\"/>entures and associates are presented under R<span class=\"_ _7\"/>esult of joint vent<span class=\"_ _7\"/>ures and associates. Ke<span class=\"_ _7\"/>y accounting estimates and judgments Impairment analysis  V<span class=\"_ _3\"/>alue in use is determined as the amount of estimated discounted future cash flows. F<span class=\"_ _3\"/>or this purpose, assets are grouped into cash-generating units based on separately identifiable and largely independent cash flows. <span class=\"_ _8\"/>The cash flow projections are based on re<span class=\"_ _7\"/>venues, operating expenses and sustaining capital expenditures of the appro<span class=\"_ _7\"/>ved budget f<span class=\"_ _7\"/>or the coming year and the two subsequent planning years. Cash flo<span class=\"_ _7\"/>ws beyond the pre<span class=\"_ _7\"/>viously mentioned period of three years are e<span class=\"_ _7\"/>xtrapolated, using a stable or decreasing growth rate, unless an increasing rate can be substantiated. Given that the cash flows are estimated bef<span class=\"_ _7\"/>ore taxes, the discount rates used to calculate the present value of the cash flo<span class=\"_ _7\"/>ws are pre-tax rates based on the risk-free rates for bonds issued by the go<span class=\"_ _7\"/>vernment in the relev<span class=\"_ _7\"/>ant market, adjusted f<span class=\"_ _7\"/>or a risk premium and specific risks relating to the countries and risks specific to the assets. <span class=\"_ _9\"/>The bonds period reflects the   av<span class=\"_ _7\"/>erage remaining useful life of the principal assets. <span class=\"_ _3\"/>As a company based in Europe, the Group assumes the long-term market equity risk premium to be 6.5% (2021: 6.5%).   When performing an impairment test, management mak<span class=\"_ _7\"/>es an assessment of whether the cash-generating unit (mostly an individual terminal) will be able to generate positive net cash flo<span class=\"_ _7\"/>ws that are suf<span class=\"_ _7\"/>ficient to support the value of the intangible assets, property<span class=\"_ _7\"/>, plant and equipment, and financial assets.   F<span class=\"_ _7\"/>or value in use, the assessment is based on estimates of fut<span class=\"_ _7\"/>ure expected cash flows (value in use) made on the basis of the budget f<span class=\"_ _7\"/>or the coming year and two subsequent plan years, whic<span class=\"_ _3\"/>h form the basis for the 1<span class=\"_ _3\"/>5-year period discounted cash flo<span class=\"_ _7\"/>w model. Key assumptions applied are generally: the expected occupancy<span class=\"_ _9\"/>, the estimated storage rate per cbm (for rev<span class=\"_ _7\"/>enues not cov<span class=\"_ _7\"/>ered by long-term contracts), sustaining capex expendit<span class=\"_ _3\"/>ures, expected growth rates and the estimated terminal value af<span class=\"_ _3\"/>ter the 1<span class=\"_ _7\"/>5-year period, together with the applied discount rates.   F<span class=\"_ _7\"/>or value in use of oil assets, the assessment is impacted by the energy transition. In 2022, the cash flow f<span class=\"_ _7\"/>orecast period of suc<span class=\"_ _7\"/>h assets is extended from a 1<span class=\"_ _3\"/>5-year period (whic<span class=\"_ _7\"/>h continues to be used for non-oil terminals) to include the period in whic<span class=\"_ _3\"/>h the energy transition is expected to take place. Ke<span class=\"_ _7\"/>y assumptions applied are generally: the expected occupancy<span class=\"_ _9\"/>, the estimated storage rate per cbm (for re<span class=\"_ _7\"/>venues not cov<span class=\"_ _7\"/>ered by long-term contracts), sustaining capex e<span class=\"_ _7\"/>xpenditures, expected (decreasing) gro<span class=\"_ _7\"/>wth rates based on most recent IEA energy transition scenarios in  a range of -3% and -4% and the estimated terminal value together with the applied discount rates. A<span class=\"_ _7\"/>s there is significant uncertaint<span class=\"_ _5\"/>y on how the energy transition will impact our estimates these remain subject to constant review and monitoring.   Fair v<span class=\"_ _7\"/>alue less cost of disposal is primarily based either on comparable market-multiples and/or (indicative) (non-)binding bids or discounted cash flo<span class=\"_ _7\"/>w models from the perspective of a willing buy<span class=\"_ _7\"/>er in an orderly transaction.   In certain situations, the fair v<span class=\"_ _7\"/>alue less cost of disposal of a terminal may be based on (preliminar<span class=\"_ _5\"/>y) of<span class=\"_ _7\"/>f<span class=\"_ _7\"/>ers received from interested parties (le<span class=\"_ _7\"/>vel 2 fair v<span class=\"_ _7\"/>alue). Although suc<span class=\"_ _3\"/>h off<span class=\"_ _3\"/>ers are conditional/preliminar<span class=\"_ _5\"/>y by nat<span class=\"_ _7\"/>ure, management considers whether these of<span class=\"_ _7\"/>f<span class=\"_ _7\"/>ers may be representative of the fair v<span class=\"_ _7\"/>alue of the terminals concerned and assesses whether it is probable   that these terminals will be sold in the coming twelve months af<span class=\"_ _3\"/>ter the reporting period, resulting in a situation where the car<span class=\"_ _7\"/>r<span class=\"_ _5\"/>ying amount will be recovered principally through a sale instead of through continued use.   These k<span class=\"_ _7\"/>ey assumptions are based on the current f<span class=\"_ _7\"/>acts and circumstances and information av<span class=\"_ _7\"/>ailable to management. By nature, these assumptions are subject to de<span class=\"_ _7\"/>velopments and c<span class=\"_ _3\"/>hange in later periods. <span class=\"_ _9\"/>This could potentially lead to (re<span class=\"_ _7\"/>versal of) impairments of individual terminals going for<span class=\"_ _5\"/>ward. Impair<span class=\"_ _3\"/>ment test r<span class=\"_ _7\"/>esults In EUR millions <span class=\"_ _206\"> </span>Note <span class=\"_ _76\"> </span>2022 <span class=\"_ _76\"> </span>2021Intangible assets <span class=\"_ _58\"> </span><span class=\"ff3 fc13\">3.2 <span class=\"_ _d0\"> </span></span>0.2 <span class=\"_ _fb\"> </span>15.9 Property<span class=\"_ _3\"/>, plant and equipment - owned assets <span class=\"_ _ef\"> </span><span class=\"ff3 fc13\">3.3 <span class=\"_ _bd\"> </span></span>448.6 <span class=\"_ _fb\"> </span>55.1 Impair<span class=\"_ _7\"/>ment 448.8 <span class=\"_ _c2\"> </span>71.0 Joint v<span class=\"_ _7\"/>entures and associates <span class=\"_ _212\"> </span><span class=\"ff3 fc13\">3.5 <span class=\"_ _c9\"> </span></span>36.2 <span class=\"_ _55\"> </span>\u2013 Re<span class=\"_ _7\"/>versal impairment joint vent<span class=\"_ _7\"/>ures and associates <span class=\"_ _146\"> </span><span class=\"ff3 fc13\">3.5 <span class=\"_ _c9\"> </span></span>- 3.8 <span class=\"_ _55\"> </span>\u2013 T<span class=\"_ _8\"/>otal <span class=\"_ _28d\"> </span><span class=\"fc0\">481<span class=\"_ _7\"/>.2 <span class=\"_ _c2\"> </span><span class=\"fcb\">71.0 </span></span>Intangible assets - Goodwill A summar<span class=\"_ _5\"/>y of the carr<span class=\"_ _5\"/>ying amount of goodwill b<span class=\"_ _7\"/>y geographical area, whic<span class=\"_ _7\"/>h is equal to the operating segments, is presented below<span class=\"_ _9\"/>. An operating segment is also the le<span class=\"_ _7\"/>vel at whic<span class=\"_ _3\"/>h goodwill is tested for impairment. In EUR millions <span class=\"_ _12a\"> </span>2022 <span class=\"_ _7f\"> </span>2021China &amp; North A<span class=\"_ _7\"/>sia <span class=\"_ _28e\"> </span>4.7 <span class=\"_ _db\"> </span>4.4 Europe &amp; Africa <span class=\"_ _20c\"> </span><span class=\"ws3\">1<span class=\"_ _9\"/>.8 <span class=\"_ _113\"> </span>1<span class=\"_ _9\"/>.8 </span>Car<span class=\"_ _7\"/>rying amount at 31 December <span class=\"_ _28c\"> </span><span class=\"fc0\">6.5 <span class=\"_ _41\"> </span></span>6.2 The Group has limited goodwill balances as it mostly de<span class=\"_ _7\"/>velops its o<span class=\"_ _7\"/>wn greenfield terminals instead of acquiring new subsidiary terminals. At 31 December 2021, the goodwill carrying amounts of the operating segments Americas and <span class=\"_ _3\"/>Asia &amp; Middle East hav<span class=\"_ _7\"/>e been presented as held for sale. No impairments of goodwill were recogniz<span class=\"_ _7\"/>ed in 2022 and 2021<span class=\"_ _8\"/>. Assumptions applied The reco<span class=\"_ _7\"/>verable v<span class=\"_ _7\"/>alue of an operating segment, whic<span class=\"_ _7\"/>h includes goodwill, is based on the value in use. In the impairment tests, the gro<span class=\"_ _7\"/>wth factors f<span class=\"_ _7\"/>or years f<span class=\"_ _7\"/>our through fif<span class=\"_ _7\"/>teen were based on the inflation rate within the range of 1<span class=\"_ _8\"/>.95% to 2.25% depending on the operating segment (2021: 1<span class=\"_ _8\"/>.5% to 2.5%). <span class=\"_ _9\"/>The pre-tax discount rate used depends on the (av<span class=\"_ _3\"/>erage) risk profile of the cash-generating unit and was 1<span class=\"_ _8\"/>1<span class=\"_ _8\"/>.1% (2021: 1<span class=\"_ _3\"/>0.7%) for China &amp; North A<span class=\"_ _7\"/>sia. <span class=\"_ _9\"/>T<span class=\"_ _7\"/>he operating profit included in the calculations is based on the approv<span class=\"_ _7\"/>ed budget for 2023 and the subsequent plan years. Sensitivity The v<span class=\"_ _7\"/>alue in use calculations indicated more than suf<span class=\"_ _7\"/>ficient headroom, suc<span class=\"_ _3\"/>h that a reasonably possible c<span class=\"_ _3\"/>hange in key assumptions w<span class=\"_ _7\"/>ould not result in an impairment of the related goodwill.  Other intangible assets 2022 No material impairments were recogniz<span class=\"_ _7\"/>ed in other intangible assets in 2022 relating to individual projects and/or assets.   2021 No material impairments were recogniz<span class=\"_ _7\"/>ed in other intangible assets in 2021 relating to individual projects and/or assets. <span class=\"_ _9\"/>T<span class=\"_ _7\"/>he net impairment of EUR 1<span class=\"_ _7\"/>5.9 million was recogniz<span class=\"_ _7\"/>ed in connection with the impairment of the cash generating unit in P<span class=\"_ _7\"/>anama. For more inf<span class=\"_ _3\"/>ormation ref<span class=\"_ _7\"/>erence is made to the paragraph on the Property<span class=\"_ _3\"/>, plant and equipment later in this note.  Proper<span class=\"_ _3\"/>ty<span class=\"_ _3\"/>, plant and equipment  The discount rates used in calculating assets<span class=\"_ _3\"/>\u2019 value in use are reassessed annually<span class=\"_ _9\"/>. <span class=\"_ _9\"/>The pre-tax discount rates used for the value in use assessment of impaired cash-generating units ranged from 6.5% to 1<span class=\"_ _3\"/>2.1% (2021: 9% to 9.2%) reflecting the current market assessments for the rele<span class=\"_ _7\"/>vant geographical locations. <span class=\"_ _9\"/>V<span class=\"_ _3\"/>opak\u2019<span class=\"_ _9\"/>s share of the recoverable amount of the impaired cash-generating units in total is EUR 858 million (2021: EUR 21<span class=\"_ _3\"/>0 million). Cancelled projects 2022 Business development pr<span class=\"_ _7\"/>oject Belgium (impair<span class=\"_ _7\"/>ment) <span class=\"ff1\"> </span>A business dev<span class=\"_ _7\"/>elopment project for the B<span class=\"_ _7\"/>elgium terminal Eurotank has been impaired in the first half of 2022 follo<span class=\"_ _7\"/>wing <span class=\"_ _3\"/>V<span class=\"_ _3\"/>opak\u2019<span class=\"_ _9\"/>s decision to discontinue the project. <span class=\"_ _9\"/>The impairment f<span class=\"_ _3\"/>or this project amounted to EUR 1<span class=\"_ _8\"/>.7 million or EUR 1<span class=\"_ _8\"/>.3 million net of income t<span class=\"_ _5\"/>axes. 2021 There w<span class=\"_ _7\"/>ere no material impairments related to cancelled projects in 2021<span class=\"_ _8\"/>. T<span class=\"_ _8\"/>er<span class=\"_ _7\"/>minals in operation Based on consistently applied methodology<span class=\"_ _9\"/>, management has assessed that the value in usefor a v<span class=\"_ _7\"/>er<span class=\"_ _5\"/>y limited number of terminals in operation, is low<span class=\"_ _7\"/>er than the carr<span class=\"_ _5\"/>ying amount. F<span class=\"_ _7\"/>or these individual terminals, also the fair v<span class=\"_ _7\"/>alue less cost of disposal has been considered in order to assess whether this value e<span class=\"_ _7\"/>xceeds the v<span class=\"_ _7\"/>alue in use and the carr<span class=\"_ _5\"/>ying amount of the assets. In suc<span class=\"_ _3\"/>h situations, the fair v<span class=\"_ _7\"/>alue less cost of disposal for terminals or assets whic<span class=\"_ _3\"/>h are actively being mark<span class=\"_ _7\"/>eted by the compan<span class=\"_ _7\"/>y<span class=\"_ _3\"/>, may be based primarily on of<span class=\"_ _3\"/>fers receiv<span class=\"_ _3\"/>ed from interested parties (lev<span class=\"_ _7\"/>el 2 fair v<span class=\"_ _7\"/>alue). The v<span class=\"_ _7\"/>alue in use assessments may c<span class=\"_ _3\"/>hange ov<span class=\"_ _7\"/>er time, among others due to c<span class=\"_ _7\"/>hanges in the business environment and/or outcome of decisions taken b<span class=\"_ _7\"/>y management, and when applicable could result in (rev<span class=\"_ _7\"/>ersal of) impairment. F<span class=\"_ _7\"/>or impaired cash-generated units recov<span class=\"_ _7\"/>erable amount resulted from the value-in-use calculation ex<span class=\"_ _7\"/>ceeded the estimated fair v<span class=\"_ _7\"/>alue less cost of disposal. 2022 Europoor<span class=\"_ _7\"/>t ter<span class=\"_ _3\"/>minals in the Nether<span class=\"_ _7\"/>lands (impairment) <span class=\"ff1\"> </span>In the first half year of 2022, f<span class=\"_ _7\"/>or the cash-generating unit Europoort, an impairment of EUR 240 million was recogniz<span class=\"_ _7\"/>ed. By accelerating into new energies and repurposing some of its assets, the terminal will reduce its capacity by 2030 and will use the av<span class=\"_ _7\"/>ailable land for new energy in<span class=\"_ _7\"/>vestments. O<span class=\"_ _7\"/>ver time, this will reduce <span class=\"_ _9\"/>V<span class=\"_ _3\"/>opak\u2019<span class=\"_ _3\"/>s exposure in oil assets in line with our ambition to increase the relative e<span class=\"_ _7\"/>xposure of industrials, gas and new energies. T<span class=\"_ _9\"/>ransition in the energy mark<span class=\"_ _7\"/>ets is expected to impact the long-term rev<span class=\"_ _3\"/>enue prospects of Europoort, in addition to current dynamics related to inflation pressure, utility prices, labor and material costs. <span class=\"_ _9\"/>T<span class=\"_ _7\"/>he combined impact of these items, caused the CGU\u2019<span class=\"_ _9\"/>s carr<span class=\"_ _5\"/>ying amount to ex<span class=\"_ _7\"/>ceed its recov<span class=\"_ _7\"/>erable amount leading to an impairment. Botlek ter<span class=\"_ _3\"/>minals in the Netherlands (impair<span class=\"_ _3\"/>ment) <span class=\"ff1\"> </span>In the first half year of 2022, an impairment of EUR 1<span class=\"_ _3\"/>90 million was recorded f<span class=\"_ _7\"/>or the   cash-generating unit Botlek. <span class=\"_ _8\"/>The B<span class=\"_ _7\"/>otlek CGU is performing belo<span class=\"_ _7\"/>w <span class=\"_ _3\"/>V<span class=\"_ _3\"/>opak\u2019<span class=\"_ _9\"/>s minimum return lev<span class=\"_ _7\"/>els whic<span class=\"_ _3\"/>h is driven by lo<span class=\"_ _7\"/>wer re<span class=\"_ _7\"/>venue projections in addition to c<span class=\"_ _3\"/>hallenging conditions related to among others inflation pressure, utility prices and labor costs. V<span class=\"_ _9\"/>opak Colombia ter<span class=\"_ _3\"/>minals in Colombia (impairment) <span class=\"ff1\"> </span>In the fourth quarter of 2022, an impairment of EUR 1<span class=\"_ _9\"/>7<span class=\"_ _d\"/>.1 million was recorded f<span class=\"_ _7\"/>or the cash-generating unit. <span class=\"_ _9\"/>T<span class=\"_ _7\"/>he decrease in recov<span class=\"_ _7\"/>erable value is primarily related to the business environment in whic<span class=\"_ _3\"/>h the terminals currently operate and forecasted competition. 2021 V<span class=\"_ _9\"/>opak Bahia las Minas ter<span class=\"_ _3\"/>minal in Panama (impair<span class=\"_ _3\"/>ment) <span class=\"ff1\"> </span>In the fourth quarter of 2020, an impairment w<span class=\"_ _7\"/>as recognized f<span class=\"_ _7\"/>or the <span class=\"_ _3\"/>V<span class=\"_ _3\"/>opak Bahia las Minas terminal in P<span class=\"_ _7\"/>anama for an amount of EUR 42.9 million. <span class=\"_ _8\"/>The impairment is primarily related to the business environment in whic<span class=\"_ _3\"/>h the terminal currently operates. Slow progress with of<span class=\"_ _7\"/>fshore bunkering opport<span class=\"_ _3\"/>unities is limiting the demand and the growth potential of the Atlantic bunker mark<span class=\"_ _7\"/>et in Panama. In the first half year of 2021, an incremental impairment was recogniz<span class=\"_ _7\"/>ed for the <span class=\"_ _9\"/>V<span class=\"_ _3\"/>opak Bahia las Minas terminal in P<span class=\"_ _3\"/>anama for the amount of EUR 71<span class=\"_ _8\"/>.0 million. <span class=\"_ _9\"/>This impairment is the result of a further deteriorating business environment and lo<span class=\"_ _7\"/>wer occupancy rates. Joint v<span class=\"_ _7\"/>entur<span class=\"_ _7\"/>es and associates 2022 Ger<span class=\"_ _7\"/>man LNG <span class=\"_ _8\"/>T<span class=\"_ _8\"/>er<span class=\"_ _7\"/>minal in Ger<span class=\"_ _7\"/>man<span class=\"_ _7\"/>y (partial impair<span class=\"_ _3\"/>ment reversal) <span class=\"ff1\"> </span>In the first half year of 2022, as a result of <span class=\"_ _9\"/>V<span class=\"_ _3\"/>opak\u2019<span class=\"_ _9\"/>s divestment of its 33.3% shareholding in the German LNG <span class=\"_ _9\"/>T<span class=\"_ _8\"/>erminal GmbH, in the first half of 2022 an impairment reversal of EUR 3.8 million was recorded. <span class=\"_ _8\"/>This re<span class=\"_ _7\"/>versal partially of<span class=\"_ _3\"/>fsets the impairment of EUR 1<span class=\"_ _3\"/>0.8 million recognized in the third quarter of 2021<span class=\"_ _1\"/>. <span class=\"_ _9\"/>This impairment re<span class=\"_ _7\"/>versal is recorded as part of the Result of joint v<span class=\"_ _7\"/>entures and associates.  SPEC LNG ter<span class=\"_ _3\"/>minal in Colombia (impairment) <span class=\"ff1\"> </span>In the second quarter of 2022, an impairment was recogniz<span class=\"_ _7\"/>ed for the SPEC LNG terminal in Colombia for an amount of EUR 36.2 million. Mainly due to unusual w<span class=\"_ _7\"/>eather conditions in recent years whic<span class=\"_ _3\"/>h hav<span class=\"_ _7\"/>e brought a significant amount of rain in Colombia, hy<span class=\"_ _7\"/>dropow<span class=\"_ _7\"/>er has been av<span class=\"_ _7\"/>ailable as the main source of pow<span class=\"_ _7\"/>er<span class=\"_ _3\"/>, whic<span class=\"_ _7\"/>h resulted in a reduced utilization of the FSRU<span class=\"_ _7\"/>. In addition, the tight FSRU mark<span class=\"_ _7\"/>et associated with the Russia-Ukraine w<span class=\"_ _7\"/>ar is leading to the opportunity to reduce FSRU costs becoming remote. <span class=\"_ _3\"/>As a result of the abov<span class=\"_ _7\"/>e there is a decrease in dividend expectations. <span class=\"_ _9\"/>T<span class=\"_ _7\"/>his impairment is recorded as part of the Result of joint vent<span class=\"_ _7\"/>ures and associates. 2021 Ger<span class=\"_ _7\"/>man LNG <span class=\"_ _8\"/>T<span class=\"_ _8\"/>er<span class=\"_ _7\"/>minal in Ger<span class=\"_ _7\"/>man<span class=\"_ _7\"/>y (impair<span class=\"_ _7\"/>ment<span class=\"ff1\">)   </span>Af<span class=\"_ _3\"/>ter a strategic review<span class=\"_ _9\"/>, <span class=\"_ _3\"/>V<span class=\"_ _3\"/>opak decided to discontinue its active participation in the German LNG project leading to an ex<span class=\"_ _7\"/>ceptional loss of EUR 1<span class=\"_ _3\"/>0.8 million recognized in the third quarter of 2021<span class=\"_ _8\"/>.  LNG T<span class=\"_ _8\"/>er<span class=\"_ _7\"/>minal <span class=\"_ _4\"/>Altamira<span class=\"ws3\"> (impair<span class=\"_ _3\"/>ment)<span class=\"ff1\">   </span></span>Due to a new commercial agreement in place f<span class=\"_ _7\"/>or our LNG <span class=\"_ _9\"/>T<span class=\"_ _8\"/>erminal Altamira in Mexico the major assets in this joint vent<span class=\"_ _7\"/>ure are held under a finance lease arrangement. <span class=\"_ _7\"/>As a result, the carr<span class=\"_ _5\"/>ying amount of the joint v<span class=\"_ _7\"/>enture increased significantly and e<span class=\"_ _7\"/>xceeded its recov<span class=\"_ _3\"/>erable amount resulting in the derecognition of the goodwill balance for an amount of EUR 32.7 million. <span class=\"_ _9\"/>T<span class=\"_ _7\"/>he ov<span class=\"_ _7\"/>erall positive result from this transaction recogniz<span class=\"_ _7\"/>ed in the fourth quarter of 2021 amounts to EUR 2.8 million. ",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfImpairmentOfAssetsExplanatory",
    "language": "en",
    "entity": "scheme:724500UL634GFV1KYF10",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
   }
  },
  "pp-value-103-4": {
   "value": "Note 3.8 Impairment tests and impairments A Accounting policies The carrying amount of goodwill is tested for impairment annually in the fourth quarter (unless there is reason to do so more frequently), while all assets are tested for impairment whenever events or changes in circumstances indicate that the carrying amounts for those assets may not be recoverable. If it is determined that assets are impaired, the carrying amounts of those assets are written down to their recoverable amount, which is the higher of fair value less costs of disposal and value in use.  Impairments of a cash-generating unit are allocated to individual assets of the   cash-generating unit on a proportionate basis. Impairments of intangible assets and   property, plant and equipment are presented in the statement of income under Impairment. Impairments, except those related to goodwill, are reversed as applicable to the extent   that the events or circumstances that triggered the original impairment have changed.  All financial assets, including joint ventures and associates, are reviewed for impairment. If there is objective evidence of impairment as a result of one or more events after initial recognition, an impairment loss is recognized in the statement of income. The impairments for joint ventures and associates are presented under Result of joint ventures and associates. Key accounting estimates and judgments Impairment analysis  Value in use is determined as the amount of estimated discounted future cash flows. For this purpose, assets are grouped into cash-generating units based on separately identifiable and largely independent cash flows. The cash flow projections are based on revenues, operating expenses and sustaining capital expenditures of the approved budget for the coming year and the two subsequent planning years. Cash flows beyond the previously mentioned period of three years are extrapolated, using a stable or decreasing growth rate, unless an increasing rate can be substantiated. Given that the cash flows are estimated before taxes, the discount rates used to calculate the present value of the cash flows are pre-tax rates based on the risk-free rates for bonds issued by the government in the relevant market, adjusted for a risk premium and specific risks relating to the countries and risks specific to the assets. The bonds period reflects the   average remaining useful life of the principal assets. As a company based in Europe, the Group assumes the long-term market equity risk premium to be 6.5% (2021: 6.5%).   When performing an impairment test, management makes an assessment of whether the cash-generating unit (mostly an individual terminal) will be able to generate positive net cash flows that are sufficient to support the value of the intangible assets, property, plant and equipment, and financial assets.   For value in use, the assessment is based on estimates of future expected cash flows (value in use) made on the basis of the budget for the coming year and two subsequent plan years, which form the basis for the 15-year period discounted cash flow model. Key assumptions applied are generally: the expected occupancy, the estimated storage rate per cbm (for revenues not covered by long-term contracts), sustaining capex expenditures, expected growth rates and the estimated terminal value after the 15-year period, together with the applied discount rates.   For value in use of oil assets, the assessment is impacted by the energy transition. In 2022, the cash flow forecast period of such assets is extended from a 15-year period (which continues to be used for non-oil terminals) to include the period in which the energy transition is expected to take place. Key assumptions applied are generally: the expected occupancy, the estimated storage rate per cbm (for revenues not covered by long-term contracts), sustaining capex expenditures, expected (decreasing) growth rates based on most recent IEA energy transition scenarios in  a range of -3% and -4% and the estimated terminal value together with the applied discount rates. As there is significant uncertainty on how the energy transition will impact our estimates these remain subject to constant review and monitoring.   Fair value less cost of disposal is primarily based either on comparable market-multiples and/or (indicative) (non-)binding bids or discounted cash flow models from the perspective of a willing buyer in an orderly transaction.   In certain situations, the fair value less cost of disposal of a terminal may be based on (preliminary) offers received from interested parties (level 2 fair value). Although such offers are conditional/preliminary by nature, management considers whether these offers may be representative of the fair value of the terminals concerned and assesses whether it is probable   that these terminals will be sold in the coming twelve months after the reporting period, resulting in a situation where the carrying amount will be recovered principally through a sale instead of through continued use.   These key assumptions are based on the current facts and circumstances and information available to management. By nature, these assumptions are subject to developments and change in later periods. This could potentially lead to (reversal of) impairments of individual terminals going forward. ",
   "dimensions": {
    "concept": "ifrs-full:DescriptionOfAccountingPolicyForImpairmentOfAssetsExplanatory",
    "language": "en",
    "entity": "scheme:724500UL634GFV1KYF10",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
   }
  },
  "pp-value-103-5": {
   "value": "Note 3.8 Impairment tests and impairments A Accounting policies The carrying amount of goodwill is tested for impairment annually in the fourth quarter (unless there is reason to do so more frequently), while all assets are tested for impairment whenever events or changes in circumstances indicate that the carrying amounts for those assets may not be recoverable. If it is determined that assets are impaired, the carrying amounts of those assets are written down to their recoverable amount, which is the higher of fair value less costs of disposal and value in use.  Impairments of a cash-generating unit are allocated to individual assets of the   cash-generating unit on a proportionate basis. Impairments of intangible assets and   property, plant and equipment are presented in the statement of income under Impairment. Impairments, except those related to goodwill, are reversed as applicable to the extent   that the events or circumstances that triggered the original impairment have changed.  All financial assets, including joint ventures and associates, are reviewed for impairment. If there is objective evidence of impairment as a result of one or more events after initial recognition, an impairment loss is recognized in the statement of income. The impairments for joint ventures and associates are presented under Result of joint ventures and associates. ",
   "dimensions": {
    "concept": "ifrs-full:DescriptionOfAccountingPolicyForImpairmentOfFinancialAssetsExplanatory",
    "language": "en",
    "entity": "scheme:724500UL634GFV1KYF10",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
   }
  },
  "pp-value-103-6": {
   "value": "Note 3.8 Impairment tests and impairments A Accounting policies The carrying amount of goodwill is tested for impairment annually in the fourth quarter (unless there is reason to do so more frequently), while all assets are tested for impairment whenever events or changes in circumstances indicate that the carrying amounts for those assets may not be recoverable. If it is determined that assets are impaired, the carrying amounts of those assets are written down to their recoverable amount, which is the higher of fair value less costs of disposal and value in use.  Impairments of a cash-generating unit are allocated to individual assets of the   cash-generating unit on a proportionate basis. Impairments of intangible assets and   property, plant and equipment are presented in the statement of income under Impairment. Impairments, except those related to goodwill, are reversed as applicable to the extent   that the events or circumstances that triggered the original impairment have changed.  All financial assets, including joint ventures and associates, are reviewed for impairment. If there is objective evidence of impairment as a result of one or more events after initial recognition, an impairment loss is recognized in the statement of income. The impairments for joint ventures and associates are presented under Result of joint ventures and associates. ",
   "dimensions": {
    "concept": "ifrs-full:DescriptionOfAccountingPolicyForImpairmentOfNonfinancialAssetsExplanatory",
    "language": "en",
    "entity": "scheme:724500UL634GFV1KYF10",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
   }
  },
  "pp-value-116-3": {
   "value": "Note 4.2 Trade and other receivables and related credit risk Trade and other receivables are exposed to credit risk which could result in impairment losses. This note includes general information about trade and other receivables as well as specifications and explanations of the related risk. Trade and other receivables In EUR millions  31-Dec-22  31-Dec-21 Trade debtors gross  129.2  111. 2  Provision for impairment of trade debtors  - 1.0  - 5.0 Trade debtors net 128.2  106.2 Taxes receivable  38.0  49.1 Other receivables  152.3  104.3 Total  318.5  259.6 Note 4.3 Trade and other payables A Accounting policies Trade and other payables represent liabilities for goods and services provided by suppliers to the Group prior to the end of the financial year which are unpaid. These are presented as current liabilities unless payment is not due within 12 months after the reporting period. Trade and other payables are initially recognized at their fair value and subsequently measured at amortized cost using the effective interest method. Trade and other payables In EUR millions  31-Dec-22  31-Dec-21 Trade payables  77.1  70.1 Accrued expenses  110.6  107.3 Deferred revenues  24.0  32.0 Accrued interest expenses  6.9  4.0 Wage tax and social security charges  6.6  6.7 Other creditors  92.2  110.0 Total  317.4  330.1 ",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfTaxReceivablesAndPayablesExplanatory",
    "language": "en",
    "entity": "scheme:724500UL634GFV1KYF10",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
   }
  },
  "pp-value-117-4": {
   "value": "A Accounting policies Trade receivables are amounts due from customers for services rendered in the ordinary course of business. Trade and other receivables are recognized initially at fair value. The Group holds trade receivables with the objective to collect the contractual cash flows and therefore the Group measures them subsequently at amortized cost using the effective interest method, less any provision for impairment. Trade receivables are generally due for settlement within 30 days and therefore are all classified as current. The group applies the simplified approach for measuring expected credit losses which uses a lifetime expected loss allowance for all trade receivables and contract assets. Trade receivables are written off (impaired) when objective evidence indicates that there is no reasonable expectation of recovery. This is based on an individual review for impairment due to an increase of the credit risk of the customer, past due amounts and taking into account any retention right on product stored for this customer. The creation and release of a provision for impaired trade receivables are recognized under Other operating expenses in the income statement.  Other receivables include among others contract assets for services transferred to the customer and the dividend receivables from joint ventures and associates for which the decision about dividend distribution was taken before year-end. ",
   "dimensions": {
    "concept": "ifrs-full:DescriptionOfAccountingPolicyForTradeAndOtherReceivablesExplanatory",
    "language": "en",
    "entity": "scheme:724500UL634GFV1KYF10",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
   }
  },
  "pp-value-117-5": {
   "value": "A Accounting policies Trade receivables are amounts due from customers for services rendered in the ordinary course of business. Trade and other receivables are recognized initially at fair value. The Group holds trade receivables with the objective to collect the contractual cash flows and therefore the Group measures them subsequently at amortized cost using the effective interest method, less any provision for impairment. Trade receivables are generally due for settlement within 30 days and therefore are all classified as current. The group applies the simplified approach for measuring expected credit losses which uses a lifetime expected loss allowance for all trade receivables and contract assets. Trade receivables are written off (impaired) when objective evidence indicates that there is no reasonable expectation of recovery. This is based on an individual review for impairment due to an increase of the credit risk of the customer, past due amounts and taking into account any retention right on product stored for this customer. The creation and release of a provision for impaired trade receivables are recognized under Other operating expenses in the income statement.  Other receivables include among others contract assets for services transferred to the customer and the dividend receivables from joint ventures and associates for which the decision about dividend distribution was taken before year-end. Note 9.2 Loans granted and finance lease receivable  A Accounting policies  The Group classifies its loans granted and other debt investments at amortized cost only if both of the following criteria are met:  \u2022  the asset is held within a business model with the objective of collecting the contractual cash flows, and  \u2022  the contractual terms give rise on specified dates to cash flows that are solely payments of principal and interest on the principal outstanding.  All loans granted and other debt investments meet these criteria and are measured at amortized cost.   At initial recognition, the Group measures loans granted at its fair value plus directly attributable transaction costs. Subsequently, these items are carried at amortized cost using the effective interest method.  Assets held under a finance lease are presented in the Statement of financial position as a receivable at an amount equal to the net investment in the lease. The income on the finance lease receivable is based on a pattern reflecting a constant periodic rate of return on the lessor\u2019s net investment in the finance lease and is presented as Other income.  The expected credit losses associated with its loans granted and other issued debt instruments carried at amortized cost are assessed by the Group on a forward looking basis. The impairment methodology applied depends on whether there has been a significant increase in credit risk.   ",
   "dimensions": {
    "concept": "ifrs-full:DescriptionOfAccountingPolicyForLoansAndReceivablesExplanatory",
    "language": "en",
    "entity": "scheme:724500UL634GFV1KYF10",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
   }
  },
  "pp-value-119-4": {
   "value": "Trade and other receivables In EUR millions  31-Dec-22  31-Dec-21 Trade debtors gross  129.2  111. 2  Provision for impairment of trade debtors  - 1.0  - 5.0 Trade debtors net 128.2  106.2 Taxes receivable  38.0  49.1 Other receivables  152.3  104.3 Total  318.5  259.6 Other receivables The total dividend receivable from joint ventures and associates amounted to EUR 16.1 million at the end of 2022 (2021: EUR 1.3 million). Other receivables balance of 2022 includes EUR 56.9 million deferred consideration of the divestment of our Canadian terminals. There were no material amounts overdue nor impaired for the other items included in the Other receivables. Note 9.2 Loans granted and finance lease receivable  A Accounting policies  The Group classifies its loans granted and other debt investments at amortized cost only if both of the following criteria are met:  \u2022  the asset is held within a business model with the objective of collecting the contractual cash flows, and  \u2022  the contractual terms give rise on specified dates to cash flows that are solely payments of principal and interest on the principal outstanding.  All loans granted and other debt investments meet these criteria and are measured at amortized cost.   At initial recognition, the Group measures loans granted at its fair value plus directly attributable transaction costs. Subsequently, these items are carried at amortized cost using the effective interest method.  Assets held under a finance lease are presented in the Statement of financial position as a receivable at an amount equal to the net investment in the lease. The income on the finance lease receivable is based on a pattern reflecting a constant periodic rate of return on the lessor\u2019s net investment in the finance lease and is presented as Other income.  The expected credit losses associated with its loans granted and other issued debt instruments carried at amortized cost are assessed by the Group on a forward looking basis. The impairment methodology applied depends on whether there has been a significant increase in credit risk.   Loans to joint ventures and  associates   Other loans   Total loans granted   Finance lease receivable                  In EUR millions   2022   2021   2022   2021   2022   2021   2022   2021  Carrying amount at 1 January   \u2013   54.8   45.6   36.2   45.6   91.0   131.2   28.6  Movements:                  Loans granted   \u2013   \u2013   6.0   13.0   6.0   13.0   \u2013   \u2013  Repayments   \u2013   \u2013   -  7.1   -  3.8   -  7.1   -  3.8   -  13.6   -  9.5  Reclassification   \u2013   -  57.0   \u2013   \u2013   \u2013   -  57.0   \u2013   104.7  Other loans interest income   \u2013   \u2013   0.3   \u2013   0.3   \u2013   \u2013   \u2013  Finance lease interest income   \u2013   \u2013   \u2013   \u2013   \u2013   \u2013   8.4   6.6  Exchange differences   \u2013   2.2   0.9   0.2   0.9   2.4   5.9   0.8  Carrying amount at 31 December   \u2013   \u2013   45.7   45.6   45.7   45.6   131.9   131.2                   Non-current receivables   \u2013   \u2013   43.8   44.8   43.8   44.8   126.1   127.6  Current receivables   \u2013   \u2013   1.9   0.8   1.9   0.8   5.8   3.6  Carrying amount at 31 December   \u2013   \u2013   45.7   45.6   45.7   45.6   131.9   131.2  In 2021, a finance lease of EUR 104.1 million was recorded by Vopak Terminal Corpus Christi, in the United States, after the assets were commissioned. The commercial contract has a duration of 20-years after which the assets will automatically transfer to the customer.   Loans granted do not include any subordinated loans.   Reference is made to note 9.9 for the fair value information and note 6.7 on the remaining period at the end of the reporting period to the contractual maturity date.   With respect to the loans granted and the finance lease receivables, which are neither impaired nor past due, there are no indications as of the reporting date that the debtors will not meet their payment obligations.   ",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfOtherAssetsExplanatory",
    "language": "en",
    "entity": "scheme:724500UL634GFV1KYF10",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
   }
  },
  "pp-value-119-5": {
   "value": "Trade and other receivables In EUR millions  31-Dec-22  31-Dec-21 Trade debtors gross  129.2  111. 2  Provision for impairment of trade debtors  - 1.0  - 5.0 Trade debtors net 128.2  106.2 Taxes receivable  38.0  49.1 Other receivables  152.3  104.3 Total  318.5  259.6 Other receivables The total dividend receivable from joint ventures and associates amounted to EUR 16.1 million at the end of 2022 (2021: EUR 1.3 million). Other receivables balance of 2022 includes EUR 56.9 million deferred consideration of the divestment of our Canadian terminals. There were no material amounts overdue nor impaired for the other items included in the Other receivables. ",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfOtherCurrentAssetsExplanatory",
    "language": "en",
    "entity": "scheme:724500UL634GFV1KYF10",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
   }
  },
  "pp-value-120-4": {
   "value": "The ef<span class=\"_ _3\"/>f<span class=\"_ _7\"/>ect of the recognized e<span class=\"_ _7\"/>xpected credit losses is negligible for both years presented. There w<span class=\"_ _7\"/>as no indication as at the statement of financial position date that these receivables will not be recov<span class=\"_ _7\"/>ered, other than as already provided f<span class=\"_ _7\"/>or<span class=\"_ _3\"/>. <span class=\"_ _9\"/>T<span class=\"_ _7\"/>he Group does not have a significant credit risk exposure on a single customer<span class=\"_ _9\"/>. F<span class=\"_ _7\"/>or more information ref<span class=\"_ _3\"/>erence is also made to note 2.3. T<span class=\"_ _1\"/>rade r<span class=\"_ _7\"/>eceiv<span class=\"_ _7\"/>ables Ag<span class=\"_ _7\"/>eing of trade r<span class=\"_ _3\"/>eceivables 2022 <span class=\"_ _231\"> </span>2021 In EUR millions <span class=\"_ _290\"> </span>Gross <span class=\"_ _19f\"> </span>Pro<span class=\"_ _7\"/>vision <span class=\"_ _20\"> </span>Net <span class=\"_ _1b\"> </span>Gross <span class=\"_ _19f\"> </span>Pro<span class=\"_ _7\"/>vision <span class=\"_ _20\"> </span>NetNot past due <span class=\"_ _c0\"> </span>94.9 <span class=\"_ _228\"> </span>\u2013 <span class=\"_ _bd\"> </span>94.9 <span class=\"_ _22b\"> </span>7<span class=\"_ _3\"/>6.3 <span class=\"_ _228\"> </span>\u2013 <span class=\"_ _20\"> </span>7<span class=\"_ _3\"/>6.3 Past due up to 3 months <span class=\"_ _189\"> </span>30.2 <span class=\"_ _bd\"> </span>- 0.2 <span class=\"_ _19a\"> </span>30.0 <span class=\"_ _bd\"> </span>20.8 <span class=\"_ _228\"> </span>\u2013 <span class=\"_ _bd\"> </span>20.8 Past due 3 to 6 months <span class=\"_ _1b6\"> </span>1<span class=\"_ _9\"/>.3 <span class=\"_ _228\"> </span>\u2013 <span class=\"_ _d9\"> </span>1<span class=\"_ _9\"/>.3 <span class=\"_ _c9\"> </span>4.9 <span class=\"_ _228\"> </span>\u2013 <span class=\"_ _c9\"> </span>4.9 Past due more than 6 months <span class=\"_ _d0\"> </span>2.8 <span class=\"_ _bd\"> </span>- 0.8 <span class=\"_ _1b1\"> </span>2.0 <span class=\"_ _140\"> </span>9.2 <span class=\"_ _bd\"> </span>- 5.0 <span class=\"_ _1b1\"> </span>4.2 T<span class=\"_ _8\"/>otal <span class=\"_ _1b9\"> </span>129.2 <span class=\"_ _ce\"> </span>- 1<span class=\"_ _3\"/>.0 <span class=\"_ _1a2\"> </span>128.2 <span class=\"_ _155\"> </span><span class=\"fcb lsde ws15c\">111<span class=\"_ _5\"/>.<span class=\"_ _4\"/>2<span class=\"_ _4\"/> <span class=\"_ _76\"> </span></span><span class=\"fcb\">- 5.0 <span class=\"_ _27\"> </span>1<span class=\"_ _3\"/>06.2 </span>Pro<span class=\"_ _7\"/>vision for bad debt In EUR millions <span class=\"_ _12a\"> </span>2022 <span class=\"_ _7f\"> </span>2021Balance at 1 January <span class=\"_ _243\"> </span><span class=\"fc0\">- 5.0 <span class=\"_ _49\"> </span></span>- 2.4 Impairments <span class=\"_ _14c\"> </span>- 0.5 <span class=\"_ _45\"> </span>- 4.4 Re<span class=\"_ _7\"/>versal of impairments <span class=\"_ _20d\"> </span>4.8 <span class=\"_ _8b\"> </span>1<span class=\"_ _9\"/>.8 Exc<span class=\"_ _3\"/>hange diff<span class=\"_ _3\"/>erences <span class=\"_ _214\"> </span>- 0.3 <span class=\"_ _130\"> </span>\u2013 Balance at 31 December <span class=\"_ _50\"> </span><span class=\"fc0\">- 1<span class=\"_ _3\"/>.0 <span class=\"_ _49\"> </span><span class=\"fcb\">- 5.0 </span></span>Exposure to bad debts is mostly related to rendering ser<span class=\"_ _5\"/>vices to international manufact<span class=\"_ _7\"/>urers and traders. <span class=\"_ _9\"/>T<span class=\"_ _7\"/>he value of the products stored f<span class=\"_ _7\"/>or these customers usually ex<span class=\"_ _7\"/>ceeds the value of the receivables and <span class=\"_ _9\"/>V<span class=\"_ _3\"/>opak generally has the right of retention. Historically<span class=\"_ _3\"/>, amounts writ<span class=\"_ _3\"/>ten off as uncollectible ha<span class=\"_ _7\"/>ve been v<span class=\"_ _7\"/>er<span class=\"_ _5\"/>y low<span class=\"_ _9\"/>, in line with the  nature of the business model, whic<span class=\"_ _3\"/>h is also the case for the y<span class=\"_ _7\"/>ears presented. Also the macro-economic and geopolitical uncertaint<span class=\"_ _5\"/>y did not result in a material increase  in the provision f<span class=\"_ _7\"/>or bad debt as no material increase in the credit risk of the accounts receivable portf<span class=\"_ _7\"/>olio was observed, despite the fact that the monitoring of the credit risk  of our customers was further intensified in connection with the pandemic. Note 6.6 Cr<span class=\"_ _3\"/>edit r<span class=\"_ _7\"/>isk Credit risk arises when a customer or other counterparty of a financial instrument fails to disc<span class=\"_ _3\"/>harge its contractual obligation. V<span class=\"_ _3\"/>opak\u2019<span class=\"_ _9\"/>s credit risk arises primarily from loans granted, finance lease receivables, trade and other receivables, cash and cash equiv<span class=\"_ _7\"/>alents, and derivativ<span class=\"_ _7\"/>e financial instruments. <span class=\"_ _9\"/>V<span class=\"_ _3\"/>opak\u2019<span class=\"_ _9\"/>s maximum exposure to credit risks is the car<span class=\"_ _7\"/>r<span class=\"_ _5\"/>ying amount of these financial assets, amounting to EUR 603.3 million (2021: EUR 553.4 million), and the credit replacing guarantees amounting to EUR 89.4 million (2021: EUR 85.8 million). Of this amount, nil was recognized in the statement of financial position at year<span class=\"_ _9\"/>-end 2022 (2021: nil). F<span class=\"_ _3\"/>urthermore, the macro-economic and geopolitical uncertaint<span class=\"_ _5\"/>y had no material ef<span class=\"_ _7\"/>f<span class=\"_ _7\"/>ect on the credit risk exposure of the financial instr<span class=\"_ _7\"/>uments in an asset position. No loans were granted to joint v<span class=\"_ _7\"/>entures and associates at y<span class=\"_ _7\"/>ear<span class=\"_ _9\"/>-end 2022. Loans to other third parties are generally secured, and mainly relate to loans to non-controlling shareholders.  F<span class=\"_ _7\"/>or more information on the credit risk of the trade receiv<span class=\"_ _7\"/>ables, ref<span class=\"_ _7\"/>erence is made to note 4.2. Risk management The credit risk with regard to trade receiv<span class=\"_ _7\"/>ables and lease receivables from customers is limited as the value of the product stored f<span class=\"_ _7\"/>or these clients usually ex<span class=\"_ _7\"/>ceeds the value of the receivables and <span class=\"_ _9\"/>V<span class=\"_ _3\"/>opak generally has the right of retention although other claims may ha<span class=\"_ _7\"/>ve priority ranking over the right of retention in a bankr<span class=\"_ _7\"/>uptcy case. <span class=\"_ _9\"/>V<span class=\"_ _3\"/>opak const<span class=\"_ _5\"/>antly monitors the outstanding receivables and the value of the stored products. See note 4.2 f<span class=\"_ _7\"/>or further details. V<span class=\"_ _3\"/>opak has spread its cash and cash equivalents and other liquidity inv<span class=\"_ _7\"/>estments across a select group of high rated financial institutions while daily limiting the cash and cash equivalents within the Group and assessing the e<span class=\"_ _7\"/>xposure to eac<span class=\"_ _3\"/>h financial institution. <span class=\"_ _3\"/>V<span class=\"_ _3\"/>opak applies credit limits per institution, depending on their credit ratings and credit def<span class=\"_ _7\"/>ault swap spread, and regularly revie<span class=\"_ _7\"/>ws these limits. <span class=\"_ _9\"/>T<span class=\"_ _7\"/>hese treasur<span class=\"_ _5\"/>y activities are concluded with financial institutions that ha<span class=\"_ _7\"/>ve at least an <span class=\"_ _3\"/>A- St<span class=\"_ _5\"/>andard &amp; P<span class=\"_ _3\"/>oor<span class=\"_ _5\"/>\u2019<span class=\"_ _9\"/>s credit rating<span class=\"_ _5\"/>. At 31 December 2022, the maximum risk in the ev<span class=\"_ _7\"/>ent of the default of a single financial institution amounted to EUR 1<span class=\"_ _3\"/>9.5 million (2021: EUR 20.7 million). The deriv<span class=\"_ _7\"/>ative financial instr<span class=\"_ _7\"/>uments will be set<span class=\"_ _3\"/>tled on a gross basis. <span class=\"_ _9\"/>The credit risk of derivativ<span class=\"_ _7\"/>e financial instruments with a positiv<span class=\"_ _7\"/>e value is mitigated b<span class=\"_ _7\"/>y ISD<span class=\"_ _3\"/>A Master Agreements with counterparties, whic<span class=\"_ _3\"/>h hav<span class=\"_ _7\"/>e the option to set<span class=\"_ _7\"/>tle all gross amounts on a net basis in the ev<span class=\"_ _7\"/>ent of a default of the counterparty<span class=\"_ _3\"/>, and by set<span class=\"_ _3\"/>ting qualitative and financial limits for the deriv<span class=\"_ _7\"/>ative counterparties. <span class=\"_ _8\"/>The Group maintains a control system that includes the authorization, reporting and monitoring of derivativ<span class=\"_ _7\"/>e activities including the Credit Default Sw<span class=\"_ _7\"/>aps dev<span class=\"_ _7\"/>elopments of counterparties obser<span class=\"_ _5\"/>ved on the secondary market. <span class=\"_ _3\"/>V<span class=\"_ _3\"/>opak believ<span class=\"_ _7\"/>es there are no material credit risks related to derivativ<span class=\"_ _7\"/>es in the Group\u2019<span class=\"_ _9\"/>s financial position. At year<span class=\"_ _9\"/>-end 2022, the deriv<span class=\"_ _7\"/>atives with a counterparty credit risk amounted to EUR 2.0 million (2021: EUR 0.5 million). Assessing the financial positions of customers and other counterparties is part of the Group\u2019<span class=\"_ _9\"/>s credit risk management and tendering process; how<span class=\"_ _7\"/>ever<span class=\"_ _9\"/>, this cannot ex<span class=\"_ _7\"/>clude all credit risk. Deter<span class=\"_ _3\"/>mination of f<span class=\"_ _7\"/>air v<span class=\"_ _7\"/>alue for financial instr<span class=\"_ _3\"/>uments  A number of the Group\u2019<span class=\"_ _9\"/>s accounting policies and disclosures require the determination of fair v<span class=\"_ _7\"/>alue for the financial instr<span class=\"_ _7\"/>uments. A f<span class=\"_ _7\"/>air value measurement is an estimate of the price that would be receiv<span class=\"_ _7\"/>ed upon the sale of an asset or paid to transf<span class=\"_ _7\"/>er a liability in an orderly transaction between market participants at the measurement date. <span class=\"_ _9\"/>Where av<span class=\"_ _7\"/>ailable, fair value measurements are deriv<span class=\"_ _7\"/>ed from quoted prices (unadjusted) in active mark<span class=\"_ _7\"/>ets for identical assets or liabilities (lev<span class=\"_ _7\"/>el 1). In the absence of suc<span class=\"_ _3\"/>h information, other obser<span class=\"_ _5\"/>vable inputs, either directly (i.e. as prices) or indirectly (i.e. derived from prices), are used to estimate fair v<span class=\"_ _7\"/>alues (lev<span class=\"_ _7\"/>el 2). No material financial instruments w<span class=\"_ _7\"/>ere measured at fair v<span class=\"_ _7\"/>alue using lev<span class=\"_ _7\"/>el 3 (inputs not based on obser<span class=\"_ _5\"/>vable mark<span class=\"_ _7\"/>et data). Inputs derived from external sources are corroborated or other<span class=\"_ _5\"/>wise verified, as appropriate.   The f<span class=\"_ _7\"/>air values of the P<span class=\"_ _7\"/>rivate Placements, re<span class=\"_ _7\"/>volving credit f<span class=\"_ _7\"/>acilit<span class=\"_ _5\"/>y and other long-term bank loans are measured by discounting the fut<span class=\"_ _7\"/>ure cash flows using observable market interest information (le<span class=\"_ _7\"/>vel 2) as no similar instr<span class=\"_ _7\"/>ument is av<span class=\"_ _7\"/>ailable due to the specific profiles of the instruments. <span class=\"_ _8\"/>The calculations include credit spreads based on the most recent borro<span class=\"_ _7\"/>wing contracts.   The f<span class=\"_ _7\"/>air values of interest rate sw<span class=\"_ _7\"/>aps, cross-currency interest rate swaps and f<span class=\"_ _7\"/>or<span class=\"_ _5\"/>ward foreign ex<span class=\"_ _7\"/>c<span class=\"_ _3\"/>hange contracts are determined by discounting the future cash flo<span class=\"_ _7\"/>ws using the applicable period-end obser<span class=\"_ _5\"/>vable yield curve, taking into account credit risk and the risk of non-performance.   In view of the short-term nat<span class=\"_ _7\"/>ure or the magnitude of the amounts, the Group considers that the fair v<span class=\"_ _7\"/>alue of loans granted, trade and other receivables, cash and cash equiv<span class=\"_ _7\"/>alents, bank ov<span class=\"_ _7\"/>erdraf<span class=\"_ _3\"/>ts, credit facilities, other long-term loans and trade creditors are not materially dif<span class=\"_ _7\"/>f<span class=\"_ _7\"/>erent from their carr<span class=\"_ _5\"/>ying value.  The f<span class=\"_ _7\"/>air value of the Other equity inv<span class=\"_ _7\"/>estments (lev<span class=\"_ _7\"/>el 3) are based on discounted cash flow projections based on reliable estimates of future cash flo<span class=\"_ _7\"/>ws or recent transactions.  The initial measurement at the trade date of all financial instr<span class=\"_ _7\"/>uments is the fair v<span class=\"_ _7\"/>alue. Except for deriv<span class=\"_ _7\"/>atives, the initial measurement of financial instr<span class=\"_ _7\"/>uments is adjusted for directly at<span class=\"_ _3\"/>tribut<span class=\"_ _5\"/>able transaction costs.   ",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfCreditRiskExplanatory",
    "language": "en",
    "entity": "scheme:724500UL634GFV1KYF10",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
   }
  },
  "pp-value-123-3": {
   "value": "Note 4.3 Trade and other payables A Accounting policies Trade and other payables represent liabilities for goods and services provided by suppliers to the Group prior to the end of the financial year which are unpaid. These are presented as current liabilities unless payment is not due within 12 months after the reporting period. Trade and other payables are initially recognized at their fair value and subsequently measured at amortized cost using the effective interest method. Trade and other payables In EUR millions  31-Dec-22  31-Dec-21 Trade payables  77.1  70.1 Accrued expenses  110.6  107.3 Deferred revenues  24.0  32.0 Accrued interest expenses  6.9  4.0 Wage tax and social security charges  6.6  6.7 Other creditors  92.2  110.0 Total  317.4  330.1 ",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfTradeAndOtherPayablesExplanatory",
    "language": "en",
    "entity": "scheme:724500UL634GFV1KYF10",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
   }
  },
  "pp-value-123-4": {
   "value": "Note 4.3 Trade and other payables Trade and other payables In EUR millions  31-Dec-22  31-Dec-21 Trade payables  77.1  70.1 Accrued expenses  110.6  107.3 Deferred revenues  24.0  32.0 Accrued interest expenses  6.9  4.0 Wage tax and social security charges  6.6  6.7 Other creditors  92.2  110.0 Total  317.4  330.1 ",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfOtherLiabilitiesExplanatory",
    "language": "en",
    "entity": "scheme:724500UL634GFV1KYF10",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
   }
  },
  "pp-value-123-5": {
   "value": "Note 4.3 Trade and other payables A Accounting policies Trade and other payables represent liabilities for goods and services provided by suppliers to the Group prior to the end of the financial year which are unpaid. These are presented as current liabilities unless payment is not due within 12 months after the reporting period. Trade and other payables are initially recognized at their fair value and subsequently measured at amortized cost using the effective interest method. Trade and other payables In EUR millions  31-Dec-22  31-Dec-21 Trade payables  77.1  70.1 Accrued expenses  110.6  107.3 Deferred revenues  24.0  32.0 Accrued interest expenses  6.9  4.0 Wage tax and social security charges  6.6  6.7 Other creditors  92.2  110.0 Total  317.4  330.1 ",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfOtherCurrentLiabilitiesExplanatory",
    "language": "en",
    "entity": "scheme:724500UL634GFV1KYF10",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
   }
  },
  "pp-value-123-6": {
   "value": "Note 4.3 Trade and other payables A Accounting policies Trade and other payables represent liabilities for goods and services provided by suppliers to the Group prior to the end of the financial year which are unpaid. These are presented as current liabilities unless payment is not due within 12 months after the reporting period. Trade and other payables are initially recognized at their fair value and subsequently measured at amortized cost using the effective interest method. Trade and other payables In EUR millions  31-Dec-22  31-Dec-21 Trade payables  77.1  70.1 Accrued expenses  110.6  107.3 Deferred revenues  24.0  32.0 Accrued interest expenses  6.9  4.0 Wage tax and social security charges  6.6  6.7 Other creditors  92.2  110.0 Total  317.4  330.1 ",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfAccruedExpensesAndOtherLiabilitiesExplanatory",
    "language": "en",
    "entity": "scheme:724500UL634GFV1KYF10",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
   }
  },
  "pp-value-124-7": {
   "value": "A Accounting policies Trade and other payables represent liabilities for goods and services provided by suppliers to the Group prior to the end of the financial year which are unpaid. These are presented as current liabilities unless payment is not due within 12 months after the reporting period. Trade and other payables are initially recognized at their fair value and subsequently measured at amortized cost using the effective interest method. ",
   "dimensions": {
    "concept": "ifrs-full:DescriptionOfAccountingPolicyForTradeAndOtherPayablesExplanatory",
    "language": "en",
    "entity": "scheme:724500UL634GFV1KYF10",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
   }
  },
  "pp-value-127-2": {
   "value": "EQUITY Note 5.1 Issued capital, share premium, treasury shares and capital management A Accounting policies Treasury shares that are reacquired are recognized at cost and deducted from equity until the shares are cancelled or reissued. Upon cancellation, treasury shares are deducted from the share capital at their nominal value of EUR 0.50 per share. Any difference between the carrying amount and the consideration received when treasury shares are reissued, is recognized directly in equity. Share capital The company\u00b4s authorized share capital amounted to EUR 190,800,000 as at 31 December 2022 divided into 140,000,000 ordinary shares, 190,800,000 protective preference shares and 50,800,000 cumulative finance preference shares, all with a nominal value of EUR 0.50 each. The issued share capital at 31 December 2022 consisted of 125,740,586 (2021: 125,740,586) ordinary shares, of which 324,587 (2021: 392,016) were held in the treasury stock in connection with existing commitments under the long-term incentive plans. No cumulative finance preference shares were issued during the years presented. Numbers  Amounts in EUR millions Financing Issued ordinary preference Treasury shares shares shares  Total shares  Treasury shares  Issued capital  Share premium reserve Balance at 31 December 2020  125,740,586  \u2013  125,740,586  - 345,736  62.9  194.4  - 15.0 Purchase treasury shares  \u2013  \u2013  \u2013  - 91,714  \u2013  \u2013  - 2.9 Vested shares under equity-settled share-based payment arrangements  \u2013  \u2013  \u2013  45,434  \u2013  \u2013  2.2 Balance at 31 December 2021  125,740,586  \u2013  125,740,586  - 392,016  62.9  194.4  - 15.7 Vested shares under equity-settled share-based payment arrangements  \u2013  \u2013  \u2013  67,429  \u2013  \u2013  2.8 Balance at 31 December 2022  125,740,586  \u2013  125,740,586  - 324,587  62.9  194.4  - 12.9 Capital management Vopak is a capital-intensive company. Vopak\u2019s funding strategy is directed at establishing and maintaining an optimal financing structure that takes due account of the current asset base and the current and future investment programs. Vopak seeks access to capital markets and flexibility at acceptable terms and conditions, including finance cost. A solid capital structure supports Vopak\u2019s objective to create long-term shareholder value while meeting the agreed financial ratios included in the debt covenants (see note 5.5) and other requirements with its other capital providers. Vopak aims to maintain a healthy financial position through capital-disciplined investment decisions, effective working capital management, long-term funding and a balanced dividend policy and is continuously reviewing its capital structure options, including but not limited to equity(-linked) or other (debt) capital instruments, to effectively finance the future growth that Vopak aims for. The Group works actively to maintain and further develop the already established diversified funding base, with regard to the number of markets and the number of investors. Note 5.2 Other reserves Revaluation reserve Revaluation reserve In EUR millions  Translation reserve derivatives financial assets  Other reserves  Total other reserves Balance at 31 December 2020  - 124.0  - 115.1  16.6  - 94.5  - 317.0 Exchange differences on net investments  167.3  \u2013  \u2013  \u2013  167.3 Effective part of hedges of net investments  - 72.1  \u2013  \u2013  \u2013  - 72.1 Tax effect on exchange differences and hedges  - 2.4  \u2013  \u2013  \u2013  - 2.4 Use of exchange differences on net investments (to statement of income)  0.5  \u2013  \u2013  \u2013  0.5 Fair value change other investments  \u2013  \u2013  33.2  \u2013  33.2 Movements in effective part of cash flow hedges  \u2013  - 1.2  \u2013  \u2013  - 1.2 Tax effect on movements in cash flow hedges  \u2013  0.3  \u2013  \u2013  0.3 Use of effective part of cash flow hedges (to statement of income)  \u2013  1.6  \u2013  \u2013  1.6 Tax effect on use of cash flow hedges  \u2013  0.1  \u2013  \u2013  0.1 Movements in effective part of cash flow hedges joint ventures  \u2013  19.4  \u2013  \u2013  19.4 Other  \u2013  \u2013  \u2013  - 0.3  - 0.3 1 Remeasurements of defined benefit plans \u2013  \u2013  \u2013  17.8  17.8 Tax on remeasurements of defined benefit plans  \u2013  \u2013  \u2013  - 4.2  - 4.2 Balance at 31 December 2021  - 30.7  - 94.9  49.8  - 81.2  - 157.0 Exchange differences on net investments  81.2  \u2013  \u2013  \u2013  81.2 Effective part of hedges of net investments  - 41.5  \u2013  \u2013  \u2013  - 41.5 Use of exchange differences on net investments (to statement of income)  - 3.3  \u2013  \u2013  \u2013  - 3.3 Use of effective part of hedges of net investments (to statement of income)  2.9  \u2013  \u2013  \u2013  2.9 Fair value change other investments  \u2013  \u2013  1.7  \u2013  1.7 Movements in effective part of cash flow hedges  \u2013  15.3  \u2013  \u2013  15.3 Tax effect on movements in cash flow hedges  \u2013  - 18.2  \u2013  \u2013  - 18.2 Use of effective part of cash flow hedges (to statement of income)  \u2013  - 2.2  \u2013  \u2013  - 2.2 Movements in effective part of cash flow hedges joint ventures  \u2013  67.8  \u2013  \u2013  67.8 Other  \u2013  \u2013  \u2013  0.7  0.7 1 Remeasurements of defined benefit plans \u2013  \u2013  \u2013  28.2  28.2 Tax on remeasurements of defined benefit plans  \u2013  \u2013  \u2013  - 6.5  - 6.5 Balance at 31 December 2022  8.6  - 32.2  51.5  - 58.8  - 30.9 1  Remeasurements of defined benefit plans includes defined benefit costs included in other comprehensive income of joint ventures for EUR -0.1 million (2021: EUR 0.3 million). The translation reserve includes all exchange differences resulting from the translation of the financial statements of foreign entities. It also includes the exchange differences on liabilities and the effective currency component of fair value changes of derivative financial instruments (net of tax), to the extent that they hedge the net investments of the Group in foreign entities and hedge accounting is applied. The Group has elected to recognize changes in the fair value of specific investments in equity securities in other comprehensive income. These changes are accumulated within the Revaluation reserve financial assets. Amounts are transferred from this reserve to retained earnings when the equity securities concerned are derecognized. The revaluation reserve derivatives contains the effective part of the accumulated change in the fair value of the cash flow hedges, net of tax, in respect of which the hedged future transaction has not yet taken place. The table below provides an overview of the estimated maturity profile of the revaluation reserve derivatives. In EUR millions  2023  2024  2025  2026  2027  > 2027  ToUse of revaluation   reserve derivatives  39.3  - 9.0  4.2  - 2.4  - 1.1  1.2  32.2 Note 5.3 Retained earnings In EUR millions  2022  2021Balance at 1 January  3,104.1  3,036.1 Dividend paid in cash  - 156.8  - 150.5 Measurement of equity-settled share-based payment arrangements  3.3  7.8 Vested shares under equity-settled share-based payment arrangements  - 5.3  - 3.5 Net profit / (loss) attributable to owners of parent  - 168.4  214.2 Use of exchange differences on net investments (to statement of income)  0.2  \u2013 1 Other - 5.9  \u2013 Balance at 31 December  2,771.2  3,104.1 1  Derecognition of DTA\u2019s Dutch fiscal unity previously recognized in retained earnings Of the reserves, EUR 2,058.1million (2021: EUR 2,273.5 million) can be distributed freely (see note 4 of the Company Financial Statements). The actual dividend per ordinary share paid in cash in 2022 was EUR 1.25 (2021: EUR 1.20). For the proposed dividend per share, reference is made to the paragraph Profit Appropriation. Note 5.4 Non-controlling interests In EUR millions  2022  2021 Balance at 31 December  156.9  144.9 Net profit  30.6  29.0 Dividend paid in cash  - 33.1  - 25.0 Movements in effective part of cash flow hedges  - 0.2  - 1.6 Exchange differences  7.4  9.6 Balance at 31 December  161.6  156.9  The Group has one subsidiary with a material non-controlling interest (NCI). The aggregated information of NCI and the information of the material subsidiary is shown in the table below. Profit allocated Dividends paid to NCI   to NCI   Accumulated NCI NCI % (in EUR millions) (in EUR millions) (in EUR millions) 31-Dec-31-Dec-2022  2021  2022  2021  2022  2021 22 21 Total  30.6  29.0  33.1  25.0  161.6  156.9 of which Vopak Terminals Singapore Pte. Ltd.  30.5%  30.5%  25.9  25.3  26.8  24.1  117.1  109.9 The summarized financial information (at 100%) regarding Vopak Terminals Singapore Pte. Ltd. is as follows: In EUR millions  31-Dec-22  31-Dec-21 Total non-current assets  823.6  778.3 Cash and cash equivalents  6.9  5.5 Other current assets  56.3  54.1 Total assets 886.8  837.9 Current liabilities  201.3  51.4 Total non-current liabilities  318.0  442.9 Total liabilities 519.3  494.3 Total net assets  367.5  343.6 In EUR millions  2022  2021 Revenues  252.6  217.7 Net profit  86.5  83.1 Other comprehensive income  24.9  22.9 Total comprehensive income  111.4  106.0 Operating cash flow  161.8  127.0 Increase/decrease (-) in cash and cash equivalents  1.4  - 3.2 Profit Appropriation Articles of Association Provisions Governing Profit Appropriation  The Articles of Association provisions governing profit appropriation are contained in Articles 9 and 27.  The relevant paragraphs of these articles are as follows:  Article 19.2.  In the Annual General Meeting of Shareholders:   b. the annual accounts as prepared by the management board will be presented to the general meeting for adoption and the allocation of profits will \u2013 with due observance of the provisions of article 27 \u2013 be determined.  Article 27.12.  The profits remaining after application of the previous paragraphs shall be at the free disposal of the general meeting, with due observance of the fact that no dividend can be distributed when, at the time of the distribution, the dividend reserve finance preference shares has a positive balance and furthermore provided that no further distributions shall be made on the anti-takeover preference shares and the finance preference shares and no profits shall be (further) reserved for the account of the finance preference shares.  ",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfShareCapitalReservesAndOtherEquityInterestExplanatory",
    "language": "en",
    "entity": "scheme:724500UL634GFV1KYF10",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
   }
  },
  "pp-value-127-3": {
   "value": "EQUITY Note 5.1 Issued capital, share premium, treasury shares and capital management A Accounting policies Treasury shares that are reacquired are recognized at cost and deducted from equity until the shares are cancelled or reissued. Upon cancellation, treasury shares are deducted from the share capital at their nominal value of EUR 0.50 per share. Any difference between the carrying amount and the consideration received when treasury shares are reissued, is recognized directly in equity. Share capital The company\u00b4s authorized share capital amounted to EUR 190,800,000 as at 31 December 2022 divided into 140,000,000 ordinary shares, 190,800,000 protective preference shares and 50,800,000 cumulative finance preference shares, all with a nominal value of EUR 0.50 each. The issued share capital at 31 December 2022 consisted of 125,740,586 (2021: 125,740,586) ordinary shares, of which 324,587 (2021: 392,016) were held in the treasury stock in connection with existing commitments under the long-term incentive plans. No cumulative finance preference shares were issued during the years presented. Numbers  Amounts in EUR millions Financing Issued ordinary preference Treasury shares shares shares  Total shares  Treasury shares  Issued capital  Share premium reserve Balance at 31 December 2020  125,740,586  \u2013  125,740,586  - 345,736  62.9  194.4  - 15.0 Purchase treasury shares  \u2013  \u2013  \u2013  - 91,714  \u2013  \u2013  - 2.9 Vested shares under equity-settled share-based payment arrangements  \u2013  \u2013  \u2013  45,434  \u2013  \u2013  2.2 Balance at 31 December 2021  125,740,586  \u2013  125,740,586  - 392,016  62.9  194.4  - 15.7 Vested shares under equity-settled share-based payment arrangements  \u2013  \u2013  \u2013  67,429  \u2013  \u2013  2.8 Balance at 31 December 2022  125,740,586  \u2013  125,740,586  - 324,587  62.9  194.4  - 12.9 ",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfTreasurySharesExplanatory",
    "language": "en",
    "entity": "scheme:724500UL634GFV1KYF10",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
   }
  },
  "pp-value-127-4": {
   "value": "EQUITY Note 5.1 Issued capital, share premium, treasury shares and capital management A Accounting policies Treasury shares that are reacquired are recognized at cost and deducted from equity until the shares are cancelled or reissued. Upon cancellation, treasury shares are deducted from the share capital at their nominal value of EUR 0.50 per share. Any difference between the carrying amount and the consideration received when treasury shares are reissued, is recognized directly in equity. Share capital The company\u00b4s authorized share capital amounted to EUR 190,800,000 as at 31 December 2022 divided into 140,000,000 ordinary shares, 190,800,000 protective preference shares and 50,800,000 cumulative finance preference shares, all with a nominal value of EUR 0.50 each. The issued share capital at 31 December 2022 consisted of 125,740,586 (2021: 125,740,586) ordinary shares, of which 324,587 (2021: 392,016) were held in the treasury stock in connection with existing commitments under the long-term incentive plans. No cumulative finance preference shares were issued during the years presented. Numbers  Amounts in EUR millions Financing Issued ordinary preference Treasury shares shares shares  Total shares  Treasury shares  Issued capital  Share premium reserve Balance at 31 December 2020  125,740,586  \u2013  125,740,586  - 345,736  62.9  194.4  - 15.0 Purchase treasury shares  \u2013  \u2013  \u2013  - 91,714  \u2013  \u2013  - 2.9 Vested shares under equity-settled share-based payment arrangements  \u2013  \u2013  \u2013  45,434  \u2013  \u2013  2.2 Balance at 31 December 2021  125,740,586  \u2013  125,740,586  - 392,016  62.9  194.4  - 15.7 Vested shares under equity-settled share-based payment arrangements  \u2013  \u2013  \u2013  67,429  \u2013  \u2013  2.8 Balance at 31 December 2022  125,740,586  \u2013  125,740,586  - 324,587  62.9  194.4  - 12.9 ",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfIssuedCapitalExplanatory",
    "language": "en",
    "entity": "scheme:724500UL634GFV1KYF10",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
   }
  },
  "pp-value-127-6": {
   "value": "EQUITY Note 5.1 Issued capital, share premium, treasury shares and capital management A Accounting policies Treasury shares that are reacquired are recognized at cost and deducted from equity until the shares are cancelled or reissued. Upon cancellation, treasury shares are deducted from the share capital at their nominal value of EUR 0.50 per share. Any difference between the carrying amount and the consideration received when treasury shares are reissued, is recognized directly in equity. ",
   "dimensions": {
    "concept": "ifrs-full:DescriptionOfAccountingPolicyForTreasurySharesExplanatory",
    "language": "en",
    "entity": "scheme:724500UL634GFV1KYF10",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
   }
  },
  "pp-value-127-7": {
   "value": "EQUITY Note 5.1 Issued capital, share premium, treasury shares and capital management A Accounting policies Treasury shares that are reacquired are recognized at cost and deducted from equity until the shares are cancelled or reissued. Upon cancellation, treasury shares are deducted from the share capital at their nominal value of EUR 0.50 per share. Any difference between the carrying amount and the consideration received when treasury shares are reissued, is recognized directly in equity. ",
   "dimensions": {
    "concept": "ifrs-full:DescriptionOfAccountingPolicyForIssuedCapitalExplanatory",
    "language": "en",
    "entity": "scheme:724500UL634GFV1KYF10",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
   }
  },
  "pp-value-130-3": {
   "value": "Capital management Vopak is a capital-intensive company. Vopak\u2019s funding strategy is directed at establishing and maintaining an optimal financing structure that takes due account of the current asset base and the current and future investment programs. Vopak seeks access to capital markets and flexibility at acceptable terms and conditions, including finance cost. A solid capital structure supports Vopak\u2019s objective to create long-term shareholder value while meeting the agreed financial ratios included in the debt covenants (see note 5.5) and other requirements with its other capital providers. Vopak aims to maintain a healthy financial position through capital-disciplined investment decisions, effective working capital management, long-term funding and a balanced dividend policy and is continuously reviewing its capital structure options, including but not limited to equity(-linked) or other (debt) capital instruments, to effectively finance the future growth that Vopak aims for. The Group works actively to maintain and further develop the already established diversified funding base, with regard to the number of markets and the number of investors. ",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfObjectivesPoliciesAndProcessesForManagingCapitalExplanatory",
    "language": "en",
    "entity": "scheme:724500UL634GFV1KYF10",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
   }
  },
  "pp-value-132-3": {
   "value": "Note 5.2 Other reserves Revaluation reserve Revaluation reserve In EUR millions  Translation reserve derivatives financial assets  Other reserves  Total other reserves Balance at 31 December 2020  - 124.0  - 115.1  16.6  - 94.5  - 317.0 Exchange differences on net investments  167.3  \u2013  \u2013  \u2013  167.3 Effective part of hedges of net investments  - 72.1  \u2013  \u2013  \u2013  - 72.1 Tax effect on exchange differences and hedges  - 2.4  \u2013  \u2013  \u2013  - 2.4 Use of exchange differences on net investments (to statement of income)  0.5  \u2013  \u2013  \u2013  0.5 Fair value change other investments  \u2013  \u2013  33.2  \u2013  33.2 Movements in effective part of cash flow hedges  \u2013  - 1.2  \u2013  \u2013  - 1.2 Tax effect on movements in cash flow hedges  \u2013  0.3  \u2013  \u2013  0.3 Use of effective part of cash flow hedges (to statement of income)  \u2013  1.6  \u2013  \u2013  1.6 Tax effect on use of cash flow hedges  \u2013  0.1  \u2013  \u2013  0.1 Movements in effective part of cash flow hedges joint ventures  \u2013  19.4  \u2013  \u2013  19.4 Other  \u2013  \u2013  \u2013  - 0.3  - 0.3 1 Remeasurements of defined benefit plans \u2013  \u2013  \u2013  17.8  17.8 Tax on remeasurements of defined benefit plans  \u2013  \u2013  \u2013  - 4.2  - 4.2 Balance at 31 December 2021  - 30.7  - 94.9  49.8  - 81.2  - 157.0 Exchange differences on net investments  81.2  \u2013  \u2013  \u2013  81.2 Effective part of hedges of net investments  - 41.5  \u2013  \u2013  \u2013  - 41.5 Use of exchange differences on net investments (to statement of income)  - 3.3  \u2013  \u2013  \u2013  - 3.3 Use of effective part of hedges of net investments (to statement of income)  2.9  \u2013  \u2013  \u2013  2.9 Fair value change other investments  \u2013  \u2013  1.7  \u2013  1.7 Movements in effective part of cash flow hedges  \u2013  15.3  \u2013  \u2013  15.3 Tax effect on movements in cash flow hedges  \u2013  - 18.2  \u2013  \u2013  - 18.2 Use of effective part of cash flow hedges (to statement of income)  \u2013  - 2.2  \u2013  \u2013  - 2.2 Movements in effective part of cash flow hedges joint ventures  \u2013  67.8  \u2013  \u2013  67.8 Other  \u2013  \u2013  \u2013  0.7  0.7 1 Remeasurements of defined benefit plans \u2013  \u2013  \u2013  28.2  28.2 Tax on remeasurements of defined benefit plans  \u2013  \u2013  \u2013  - 6.5  - 6.5 Balance at 31 December 2022  8.6  - 32.2  51.5  - 58.8  - 30.9 1  Remeasurements of defined benefit plans includes defined benefit costs included in other comprehensive income of joint ventures for EUR -0.1 million (2021: EUR 0.3 million). The translation reserve includes all exchange differences resulting from the translation of the financial statements of foreign entities. It also includes the exchange differences on liabilities and the effective currency component of fair value changes of derivative financial instruments (net of tax), to the extent that they hedge the net investments of the Group in foreign entities and hedge accounting is applied. The Group has elected to recognize changes in the fair value of specific investments in equity securities in other comprehensive income. These changes are accumulated within the Revaluation reserve financial assets. Amounts are transferred from this reserve to retained earnings when the equity securities concerned are derecognized. The revaluation reserve derivatives contains the effective part of the accumulated change in the fair value of the cash flow hedges, net of tax, in respect of which the hedged future transaction has not yet taken place. The table below provides an overview of the estimated maturity profile of the revaluation reserve derivatives. In EUR millions  2023  2024  2025  2026  2027  > 2027  ToUse of revaluation   reserve derivatives  39.3  - 9.0  4.2  - 2.4  - 1.1  1.2  32.2 ",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfReservesAndOtherEquityInterestExplanatory",
    "language": "en",
    "entity": "scheme:724500UL634GFV1KYF10",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
   }
  },
  "pp-value-137-3": {
   "value": "Note 5.4 Non-controlling interests In EUR millions  2022  2021 Balance at 31 December  156.9  144.9 Net profit  30.6  29.0 Dividend paid in cash  - 33.1  - 25.0 Movements in effective part of cash flow hedges  - 0.2  - 1.6 Exchange differences  7.4  9.6 Balance at 31 December  161.6  156.9  The Group has one subsidiary with a material non-controlling interest (NCI). The aggregated information of NCI and the information of the material subsidiary is shown in the table below. Profit allocated Dividends paid to NCI   to NCI   Accumulated NCI NCI % (in EUR millions) (in EUR millions) (in EUR millions) 31-Dec-31-Dec-2022  2021  2022  2021  2022  2021 22 21 Total  30.6  29.0  33.1  25.0  161.6  156.9 of which Vopak Terminals Singapore Pte. Ltd.  30.5%  30.5%  25.9  25.3  26.8  24.1  117.1  109.9 The summarized financial information (at 100%) regarding Vopak Terminals Singapore Pte. Ltd. is as follows: In EUR millions  31-Dec-22  31-Dec-21 Total non-current assets  823.6  778.3 Cash and cash equivalents  6.9  5.5 Other current assets  56.3  54.1 Total assets 886.8  837.9 Current liabilities  201.3  51.4 Total non-current liabilities  318.0  442.9 Total liabilities 519.3  494.3 Total net assets  367.5  343.6 In EUR millions  2022  2021 Revenues  252.6  217.7 Net profit  86.5  83.1 Other comprehensive income  24.9  22.9 Total comprehensive income  111.4  106.0 Operating cash flow  161.8  127.0 Increase/decrease (-) in cash and cash equivalents  1.4  - 3.2 ",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfNoncontrollingInterestsExplanatory",
    "language": "en",
    "entity": "scheme:724500UL634GFV1KYF10",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
   }
  },
  "pp-value-139-2": {
   "value": "BORROWINGS Note 5.5 Interest-bearing loans and net debt A Accounting policies Interest-bearing loans and borrowings are recognized initially at fair value net of directly attributable transaction costs. After initial recognition, these items are subsequently measured at amortized costs, applying the effective interest method unless the interest ratehas been converted in a hedge relation from fixed into floating by means of a fair value hedge. In that case, the carrying amount is adjusted for the fair value changes caused by the hedged risk. Borrowings are removed from the balance sheet when the obligation specified in the contract is discharged, cancelled or expired. Fees paid on the establishment of loan facilities are recognized as transaction costs of the loan to the extent that it is probable that some or all of the facility will be drawn down. In this case, the fee is deferred until the drawdown occurs. To the extent there is no evidence that it is probable that some or all of the facility will be drawn down, the fee is capitalized as pre-payment for liquidity services and amortized on a straight-line basis over the period of the facility to which it relates. For the accounting policies of the Lease liabilities, reference is made to note 3.4. (Net) Debt reconciliation  Interest-bearing Cash and  cash Short-term   Interest-  Net interest-loans - lease Total interest-1 In EUR millions equivalents borrowings bearing loans bearing debt liabilities bearing debt Carrying amount at 31 December 2020  59.0  - 205.0  - 1,744.3  - 1,890.3  - 699.2  - 2,589.5 Cash flows  8.8  - 257.0  33.8  - 214.4  56.7  - 157.7 Other non-cash movements  - 0.1  \u2013  5.1  5.0  - 49.3  - 44.3 Exchange differences  3.1  \u2013  - 117.2  - 114.1  - 19.5  - 133.6 Carrying amount at 31 December 2021  70.8  - 462.0  - 1,822.6  - 2,213.8  - 711.3  - 2,925.1 Cash flows  - 17.7  185.2  - 187.0  - 19.5  64.1  44.6 Other non-cash movements  - 21.8  \u2013  - 1.0  - 22.8  - 61.4  - 84.2 Exchange differences  1.4  \u2013  - 71.1  - 69.7  - 16.4  - 86.1 Carrying amount at 31 December 2022  32.7  - 276.8  - 2,081.7  - 2,325.8  - 725.0  - 3,050.8 Current assets  33.8  \u2013  \u2013  33.8  \u2013  33.8 Non-current liabilities  \u2013  \u2013  - 1,662.7  - 1,662.7  - 688.8  - 2,351.5 Current liabilities  - 1.1  - 276.8  - 419.0  - 696.9  - 36.2  - 733.1 Carrying amount at 31 December 2022  32.7  - 276.8  - 2,081.7  - 2,325.8  - 725.0  - 3,050.8 1  Net interest-bearing debt forms the basis for the net-debt : EBITDA calculation mentioned in our financial ratios. 2022 On 30 June 2022, Vopak successfully renewed its EUR 1 billion senior unsecured sustainability-linked revolving credit facility (RCF) with a syndicate of 12 international relationship banks. This new facility replaces the current RCF of EUR 1 billion, which has been in place since June 2016. For drawdowns under credit facilities, reference is made to note 6.7 Cash management.  2021 In December 2021, the Group repaid part of the US Private Placement 2009 (USPP 2009)  for an amount of USD 150 million (approximately EUR 133 million).  In the fourth quarter of 2021, Vopak Vietnam fully repaid its bank loan amounting to VND 60 million (approximately EUR 2 million).  Financial ratios reconciliation To provide insight into how financial ratios for debt covenant purposes are calculated and  on how these reconcile to the IFRS figures, a financial ratios reconciliation is provided in the table below: In EUR millions  Note  2022  2021 EBITDA  424.0  741.5 -/- Result joint ventures and associates  162.3  172.3 +/+ Gross dividend received from joint ventures and associates  209.3  134.1 -/- IFRS 16 Adjustment in operating expenses for former operating leases  1.1, 3.4  60.8  53.8 -/- Exceptional items  - 430.8  - 71.7 -/- Divestments full year adjustment  8.1  \u2013 EBITDA for ratio calculation  832.9  721.2 Net interest-bearing debt - 3,050.8  - 2,925.1 -/- IFRS 16 Adjustment in lease liabilities for former operating leases  1.1, 3.4  - 715.2  - 702.1 Derivative financial instruments (currency)  33.2  31.0 Credit replacement guarantees  9.8, 9.9  - 89.4  - 85.8 -/- Subordinated loans  - 187.6  - 176.6 Cash equivalent included in HFS assets  \u2013  - 5.9 Restricted Cash  \u2013  - 7.8 Senior net debt for ratio calculation  - 2,204.2  - 2,114.9 Financial ratios Senior net debt : EBITDA  2.65  2.93 1 Interest cover 8.4  8.4 1  Interest cover is the ratio of the EBITDA and the net finance costs. With a Senior net debt : EBITDA ratio of 2.65 (2021: 2.93) and an interest cover ratio of 8.4 (2021: 8.4), Vopak met the applicable financial ratios as at 31 December 2022.  The application of IFRS 16 has no effect on the debt covenants of the Group as the related ratios are based on the accounting policies that were applicable on the date of entering into the debt agreements (\u2018frozen GAAP\u2019).  Average remaining maturities and main covenant ratios At year-end 2022, the interest-bearing loans mainly consisted of unsecured Private Placements (PPs) in the US and Asian market, the Revolving credit facility of Royal Vopak, Money Market Loans as well as a bank loan and a credit facility of Vopak Terminal Singapore Pte Ltd. (VTS). The PPs consisted of various financing programs entered into in 2009, 2012 and 2020. For further details on currency and interest rate risks, reference is made to notes 6.3 and 6.4 and 9.9.  Interest-bearing loans Interest-bearing loans - lease Total interest-In EUR millions  USPPs  Asian PPs  VTS Bank loan  RCFs  Other  Bank loans  Total liabilities bearing loans Non-current  1,429.1  153.5  130.6  109.1  \u2013  \u2013  1,822.3  676.1  2,498.4 Current  - 0.5  \u2013  \u2013  \u2013  0.8  462.0  462.3  35.2  497.5 Carrying amount at 31 December 2021  1,428.6  153.5  130.6  109.1  0.8  462.0  2,284.6  711.3  2,995.9 Average remaining terms (in years)  5.2  19.0  1.6  1.4  0.2  \u2013  4.7  24.9 Non-current  1,221.7  141.0  \u2013  300.0  \u2013  \u2013  1,662.7  688.8  2,351.5 Current  278.7  \u2013  139.6  \u2013  1.5  276.0  695.8  36.2  732.0 Carrying amount at 31 December 2022  1,500.4  141.0  139.6  300.0  1.5  276.0  2,358.5  725.0  3,083.5 Average remaining terms (in years)  4.1  18.0  0.6  4.4  0.2  \u2013  4.3  24.6 Required ratios Senior net debt : EBITDA (maximum)  3.75  3.75  3.75  4.00  3.75  3.75 1 Interest cover (minimum) 3.50  3.50  3.50  3.50  3.50  3.50 1  Interest cover is the ratio of the EBITDA and the net finance costs. The fair value of the interest-bearing loans is disclosed in note 9.9. Change of control clauses Certain lenders have the right to demand complete repayment of outstanding amounts in case any person or any group of persons acting together, other than HAL Holding N.V, acquires control, directly or indirectly, of more than 50% of the voting rights of the Koninklijke Vopak N.V. ",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfBorrowingsExplanatory",
    "language": "en",
    "entity": "scheme:724500UL634GFV1KYF10",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
   }
  },
  "pp-value-139-3": {
   "value": "BORROWINGS Note 5.5 Interest-bearing loans and net debt A Accounting policies Interest-bearing loans and borrowings are recognized initially at fair value net of directly attributable transaction costs. After initial recognition, these items are subsequently measured at amortized costs, applying the effective interest method unless the interest ratehas been converted in a hedge relation from fixed into floating by means of a fair value hedge. In that case, the carrying amount is adjusted for the fair value changes caused by the hedged risk. Borrowings are removed from the balance sheet when the obligation specified in the contract is discharged, cancelled or expired. Fees paid on the establishment of loan facilities are recognized as transaction costs of the loan to the extent that it is probable that some or all of the facility will be drawn down. In this case, the fee is deferred until the drawdown occurs. To the extent there is no evidence that it is probable that some or all of the facility will be drawn down, the fee is capitalized as pre-payment for liquidity services and amortized on a straight-line basis over the period of the facility to which it relates. For the accounting policies of the Lease liabilities, reference is made to note 3.4. (Net) Debt reconciliation  Interest-bearing Cash and  cash Short-term   Interest-  Net interest-loans - lease Total interest-1 In EUR millions equivalents borrowings bearing loans bearing debt liabilities bearing debt Carrying amount at 31 December 2020  59.0  - 205.0  - 1,744.3  - 1,890.3  - 699.2  - 2,589.5 Cash flows  8.8  - 257.0  33.8  - 214.4  56.7  - 157.7 Other non-cash movements  - 0.1  \u2013  5.1  5.0  - 49.3  - 44.3 Exchange differences  3.1  \u2013  - 117.2  - 114.1  - 19.5  - 133.6 Carrying amount at 31 December 2021  70.8  - 462.0  - 1,822.6  - 2,213.8  - 711.3  - 2,925.1 Cash flows  - 17.7  185.2  - 187.0  - 19.5  64.1  44.6 Other non-cash movements  - 21.8  \u2013  - 1.0  - 22.8  - 61.4  - 84.2 Exchange differences  1.4  \u2013  - 71.1  - 69.7  - 16.4  - 86.1 Carrying amount at 31 December 2022  32.7  - 276.8  - 2,081.7  - 2,325.8  - 725.0  - 3,050.8 Current assets  33.8  \u2013  \u2013  33.8  \u2013  33.8 Non-current liabilities  \u2013  \u2013  - 1,662.7  - 1,662.7  - 688.8  - 2,351.5 Current liabilities  - 1.1  - 276.8  - 419.0  - 696.9  - 36.2  - 733.1 Carrying amount at 31 December 2022  32.7  - 276.8  - 2,081.7  - 2,325.8  - 725.0  - 3,050.8 1  Net interest-bearing debt forms the basis for the net-debt : EBITDA calculation mentioned in our financial ratios. 2022 On 30 June 2022, Vopak successfully renewed its EUR 1 billion senior unsecured sustainability-linked revolving credit facility (RCF) with a syndicate of 12 international relationship banks. This new facility replaces the current RCF of EUR 1 billion, which has been in place since June 2016. For drawdowns under credit facilities, reference is made to note 6.7 Cash management.  2021 In December 2021, the Group repaid part of the US Private Placement 2009 (USPP 2009)  for an amount of USD 150 million (approximately EUR 133 million).  In the fourth quarter of 2021, Vopak Vietnam fully repaid its bank loan amounting to VND 60 million (approximately EUR 2 million).  Financial ratios reconciliation To provide insight into how financial ratios for debt covenant purposes are calculated and  on how these reconcile to the IFRS figures, a financial ratios reconciliation is provided in the table below: In EUR millions  Note  2022  2021 EBITDA  424.0  741.5 -/- Result joint ventures and associates  162.3  172.3 +/+ Gross dividend received from joint ventures and associates  209.3  134.1 -/- IFRS 16 Adjustment in operating expenses for former operating leases  1.1, 3.4  60.8  53.8 -/- Exceptional items  - 430.8  - 71.7 -/- Divestments full year adjustment  8.1  \u2013 EBITDA for ratio calculation  832.9  721.2 Net interest-bearing debt - 3,050.8  - 2,925.1 -/- IFRS 16 Adjustment in lease liabilities for former operating leases  1.1, 3.4  - 715.2  - 702.1 Derivative financial instruments (currency)  33.2  31.0 Credit replacement guarantees  9.8, 9.9  - 89.4  - 85.8 -/- Subordinated loans  - 187.6  - 176.6 Cash equivalent included in HFS assets  \u2013  - 5.9 Restricted Cash  \u2013  - 7.8 Senior net debt for ratio calculation  - 2,204.2  - 2,114.9 Financial ratios Senior net debt : EBITDA  2.65  2.93 1 Interest cover 8.4  8.4 1  Interest cover is the ratio of the EBITDA and the net finance costs. With a Senior net debt : EBITDA ratio of 2.65 (2021: 2.93) and an interest cover ratio of 8.4 (2021: 8.4), Vopak met the applicable financial ratios as at 31 December 2022.  The application of IFRS 16 has no effect on the debt covenants of the Group as the related ratios are based on the accounting policies that were applicable on the date of entering into the debt agreements (\u2018frozen GAAP\u2019).  Average remaining maturities and main covenant ratios At year-end 2022, the interest-bearing loans mainly consisted of unsecured Private Placements (PPs) in the US and Asian market, the Revolving credit facility of Royal Vopak, Money Market Loans as well as a bank loan and a credit facility of Vopak Terminal Singapore Pte Ltd. (VTS). The PPs consisted of various financing programs entered into in 2009, 2012 and 2020. For further details on currency and interest rate risks, reference is made to notes 6.3 and 6.4 and 9.9.  Interest-bearing loans Interest-bearing loans - lease Total interest-In EUR millions  USPPs  Asian PPs  VTS Bank loan  RCFs  Other  Bank loans  Total liabilities bearing loans Non-current  1,429.1  153.5  130.6  109.1  \u2013  \u2013  1,822.3  676.1  2,498.4 Current  - 0.5  \u2013  \u2013  \u2013  0.8  462.0  462.3  35.2  497.5 Carrying amount at 31 December 2021  1,428.6  153.5  130.6  109.1  0.8  462.0  2,284.6  711.3  2,995.9 Average remaining terms (in years)  5.2  19.0  1.6  1.4  0.2  \u2013  4.7  24.9 Non-current  1,221.7  141.0  \u2013  300.0  \u2013  \u2013  1,662.7  688.8  2,351.5 Current  278.7  \u2013  139.6  \u2013  1.5  276.0  695.8  36.2  732.0 Carrying amount at 31 December 2022  1,500.4  141.0  139.6  300.0  1.5  276.0  2,358.5  725.0  3,083.5 Average remaining terms (in years)  4.1  18.0  0.6  4.4  0.2  \u2013  4.3  24.6 Required ratios Senior net debt : EBITDA (maximum)  3.75  3.75  3.75  4.00  3.75  3.75 1 Interest cover (minimum) 3.50  3.50  3.50  3.50  3.50  3.50 1  Interest cover is the ratio of the EBITDA and the net finance costs. The fair value of the interest-bearing loans is disclosed in note 9.9. Change of control clauses Certain lenders have the right to demand complete repayment of outstanding amounts in case any person or any group of persons acting together, other than HAL Holding N.V, acquires control, directly or indirectly, of more than 50% of the voting rights of the Koninklijke Vopak N.V. ",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfSubordinatedLiabilitiesExplanatory",
    "language": "en",
    "entity": "scheme:724500UL634GFV1KYF10",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
   }
  },
  "pp-value-139-5": {
   "value": "BORROWINGS Note 5.5 Interest-bearing loans and net debt A Accounting policies Interest-bearing loans and borrowings are recognized initially at fair value net of directly attributable transaction costs. After initial recognition, these items are subsequently measured at amortized costs, applying the effective interest method unless the interest ratehas been converted in a hedge relation from fixed into floating by means of a fair value hedge. In that case, the carrying amount is adjusted for the fair value changes caused by the hedged risk. Borrowings are removed from the balance sheet when the obligation specified in the contract is discharged, cancelled or expired. Fees paid on the establishment of loan facilities are recognized as transaction costs of the loan to the extent that it is probable that some or all of the facility will be drawn down. In this case, the fee is deferred until the drawdown occurs. To the extent there is no evidence that it is probable that some or all of the facility will be drawn down, the fee is capitalized as pre-payment for liquidity services and amortized on a straight-line basis over the period of the facility to which it relates. For the accounting policies of the Lease liabilities, reference is made to note 3.4. ",
   "dimensions": {
    "concept": "ifrs-full:DescriptionOfAccountingPolicyForBorrowingsExplanatory",
    "language": "en",
    "entity": "scheme:724500UL634GFV1KYF10",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
   }
  },
  "pp-value-142-4": {
   "value": "2022 On 30 June 2022, Vopak successfully renewed its EUR 1 billion senior unsecured sustainability-linked revolving credit facility (RCF) with a syndicate of 12 international relationship banks. This new facility replaces the current RCF of EUR 1 billion, which has been in place since June 2016. For drawdowns under credit facilities, reference is made to note 6.7 Cash management.  2021 In December 2021, the Group repaid part of the US Private Placement 2009 (USPP 2009)  for an amount of USD 150 million (approximately EUR 133 million).  In the fourth quarter of 2021, Vopak Vietnam fully repaid its bank loan amounting to VND 60 million (approximately EUR 2 million).  Change of control clauses Certain lenders have the right to demand complete repayment of outstanding amounts in case any person or any group of persons acting together, other than HAL Holding N.V, acquires control, directly or indirectly, of more than 50% of the voting rights of the Koninklijke Vopak N.V. ",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfDebtSecuritiesExplanatory",
    "language": "en",
    "entity": "scheme:724500UL634GFV1KYF10",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
   }
  },
  "pp-value-143-4": {
   "value": "Financial ratios reconciliation To provide insight into how financial ratios for debt covenant purposes are calculated and  on how these reconcile to the IFRS figures, a financial ratios reconciliation is provided in the table below: In EUR millions  Note  2022  2021 EBITDA  424.0  741.5 -/- Result joint ventures and associates  162.3  172.3 +/+ Gross dividend received from joint ventures and associates  209.3  134.1 -/- IFRS 16 Adjustment in operating expenses for former operating leases  1.1, 3.4  60.8  53.8 -/- Exceptional items  - 430.8  - 71.7 -/- Divestments full year adjustment  8.1  \u2013 EBITDA for ratio calculation  832.9  721.2 Net interest-bearing debt - 3,050.8  - 2,925.1 -/- IFRS 16 Adjustment in lease liabilities for former operating leases  1.1, 3.4  - 715.2  - 702.1 Derivative financial instruments (currency)  33.2  31.0 Credit replacement guarantees  9.8, 9.9  - 89.4  - 85.8 -/- Subordinated loans  - 187.6  - 176.6 Cash equivalent included in HFS assets  \u2013  - 5.9 Restricted Cash  \u2013  - 7.8 Senior net debt for ratio calculation  - 2,204.2  - 2,114.9 Financial ratios Senior net debt : EBITDA  2.65  2.93 1 Interest cover 8.4  8.4 1  Interest cover is the ratio of the EBITDA and the net finance costs. With a Senior net debt : EBITDA ratio of 2.65 (2021: 2.93) and an interest cover ratio of 8.4 (2021: 8.4), Vopak met the applicable financial ratios as at 31 December 2022.  The application of IFRS 16 has no effect on the debt covenants of the Group as the related ratios are based on the accounting policies that were applicable on the date of entering into the debt agreements (\u2018frozen GAAP\u2019).  The cash and cash equivalents were at the free disposal of the Group for the years presented, except for cash and cash equivalent balances in 2021 amounting EUR 7.8 million for which certain usage restrictions applied. ",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfRestrictedCashAndCashEquivalentsExplanatory",
    "language": "en",
    "entity": "scheme:724500UL634GFV1KYF10",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
   }
  },
  "pp-value-147-2": {
   "value": "Cash and cash equivalents In EUR millions  31-Dec-22  31-Dec-21Cash and bank  26.7  58.2 Short-term deposits  7.1  15.2 Total  33.8  73.4 Cash and cash equivalents include all cash balances, short-term deposits and other   short-term, highly liquid investments with original maturities of three months or less that are readily convertible to known amounts of cash and which are subject to an insignificant risk of changes in value, net of specific outstanding bank overdrafts when they are considered an integral part of the Group\u2019s cash management. For the years presented, there were no material short-term deposits positions outstanding per year-end. The reconciliation with the Consolidated Cash Flow Statement and the net debt reconciliation is as follows:  In EUR millions  31-Dec-22  31-Dec-21 Cash and cash equivalents  33.8  73.4 Bank overdrafts  - 1.1  - 2.6 Total  32.7  70.8 The cash and cash equivalents were at the free disposal of the Group for the years presented, except for cash and cash equivalent balances in 2021 amounting EUR 7.8 million for which certain usage restrictions applied. ",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfDepositsFromBanksExplanatory",
    "language": "en",
    "entity": "scheme:724500UL634GFV1KYF10",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
   }
  },
  "pp-value-147-3": {
   "value": "Cash and cash equivalents In EUR millions  31-Dec-22  31-Dec-21Cash and bank  26.7  58.2 Short-term deposits  7.1  15.2 Total  33.8  73.4 Cash and cash equivalents include all cash balances, short-term deposits and other   short-term, highly liquid investments with original maturities of three months or less that are readily convertible to known amounts of cash and which are subject to an insignificant risk of changes in value, net of specific outstanding bank overdrafts when they are considered an integral part of the Group\u2019s cash management. For the years presented, there were no material short-term deposits positions outstanding per year-end. The reconciliation with the Consolidated Cash Flow Statement and the net debt reconciliation is as follows:  In EUR millions  31-Dec-22  31-Dec-21 Cash and cash equivalents  33.8  73.4 Bank overdrafts  - 1.1  - 2.6 Total  32.7  70.8 The cash and cash equivalents were at the free disposal of the Group for the years presented, except for cash and cash equivalent balances in 2021 amounting EUR 7.8 million for which certain usage restrictions applied. ",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfCashAndCashEquivalentsExplanatory",
    "language": "en",
    "entity": "scheme:724500UL634GFV1KYF10",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
   }
  },
  "pp-value-148-5": {
   "value": "Cash and cash equivalents include all cash balances, short-term deposits and other   short-term, highly liquid investments with original maturities of three months or less that are readily convertible to known amounts of cash and which are subject to an insignificant risk of changes in value, net of specific outstanding bank overdrafts when they are considered an integral part of the Group\u2019s cash management. For the years presented, there were no material short-term deposits positions outstanding per year-end. ",
   "dimensions": {
    "concept": "ifrs-full:DescriptionOfAccountingPolicyToDetermineComponentsOfCashAndCashEquivalents",
    "language": "en",
    "entity": "scheme:724500UL634GFV1KYF10",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
   }
  },
  "pp-value-152-3": {
   "value": "Note 5.6 Net finance costs A Accounting policies General and specific borrowing costs, including the cost of hedging, that are directly attributable to the acquisition or construction of a qualifying asset are capitalized during the period of time that is required to complete and prepare the asset for its intended use or sale. Qualifying assets are assets that necessarily take a substantial period of time (> 1 year) to get ready for their intended use or sale. Other borrowing costs are expensed in the period in which they are incurred. Interest income from granted loans is presented under Interest income. Interest income  is calculated by applying the effective interest rate to the gross carrying amount of a  financial asset except for financial assets that subsequently become credit-impaired.  For credit-impaired financial assets, the effective interest rate is applied to the net carrying amount of the financial asset (after deduction of the loss allowance). Finance costs consist primarily of interest, fair value gains/losses on derivatives not in a hedge relationship and exchange differences on loans drawn and of results on hedging instruments recognized in the statement of income. Interest expenses are recognized in the period to which they relate, taking into account the effective interest rate. ",
   "dimensions": {
    "concept": "ifrs-full:DescriptionOfAccountingPolicyForBorrowingCostsExplanatory",
    "language": "en",
    "entity": "scheme:724500UL634GFV1KYF10",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
   }
  },
  "pp-value-152-4": {
   "value": "Note 5.6 Net finance costs A Accounting policies General and specific borrowing costs, including the cost of hedging, that are directly attributable to the acquisition or construction of a qualifying asset are capitalized during the period of time that is required to complete and prepare the asset for its intended use or sale. Qualifying assets are assets that necessarily take a substantial period of time (> 1 year) to get ready for their intended use or sale. Other borrowing costs are expensed in the period in which they are incurred. Interest income from granted loans is presented under Interest income. Interest income  is calculated by applying the effective interest rate to the gross carrying amount of a  financial asset except for financial assets that subsequently become credit-impaired.  For credit-impaired financial assets, the effective interest rate is applied to the net carrying amount of the financial asset (after deduction of the loss allowance). Finance costs consist primarily of interest, fair value gains/losses on derivatives not in a hedge relationship and exchange differences on loans drawn and of results on hedging instruments recognized in the statement of income. Interest expenses are recognized in the period to which they relate, taking into account the effective interest rate. ",
   "dimensions": {
    "concept": "ifrs-full:DescriptionOfAccountingPolicyForFinanceIncomeAndCostsExplanatory",
    "language": "en",
    "entity": "scheme:724500UL634GFV1KYF10",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
   }
  },
  "pp-value-152-5": {
   "value": "Note 5.6 Net finance costs A Accounting policies General and specific borrowing costs, including the cost of hedging, that are directly attributable to the acquisition or construction of a qualifying asset are capitalized during the period of time that is required to complete and prepare the asset for its intended use or sale. Qualifying assets are assets that necessarily take a substantial period of time (> 1 year) to get ready for their intended use or sale. Other borrowing costs are expensed in the period in which they are incurred. Interest income from granted loans is presented under Interest income. Interest income  is calculated by applying the effective interest rate to the gross carrying amount of a  financial asset except for financial assets that subsequently become credit-impaired.  For credit-impaired financial assets, the effective interest rate is applied to the net carrying amount of the financial asset (after deduction of the loss allowance). Finance costs consist primarily of interest, fair value gains/losses on derivatives not in a hedge relationship and exchange differences on loans drawn and of results on hedging instruments recognized in the statement of income. Interest expenses are recognized in the period to which they relate, taking into account the effective interest rate. ",
   "dimensions": {
    "concept": "ifrs-full:DescriptionOfAccountingPolicyForFinanceCostsExplanatory",
    "language": "en",
    "entity": "scheme:724500UL634GFV1KYF10",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
   }
  },
  "pp-value-152-6": {
   "value": "Note 5.6 Net finance costs A Accounting policies General and specific borrowing costs, including the cost of hedging, that are directly attributable to the acquisition or construction of a qualifying asset are capitalized during the period of time that is required to complete and prepare the asset for its intended use or sale. Qualifying assets are assets that necessarily take a substantial period of time (> 1 year) to get ready for their intended use or sale. Other borrowing costs are expensed in the period in which they are incurred. Interest income from granted loans is presented under Interest income. Interest income  is calculated by applying the effective interest rate to the gross carrying amount of a  financial asset except for financial assets that subsequently become credit-impaired.  For credit-impaired financial assets, the effective interest rate is applied to the net carrying amount of the financial asset (after deduction of the loss allowance). Finance costs consist primarily of interest, fair value gains/losses on derivatives not in a hedge relationship and exchange differences on loans drawn and of results on hedging instruments recognized in the statement of income. Interest expenses are recognized in the period to which they relate, taking into account the effective interest rate. ",
   "dimensions": {
    "concept": "ifrs-full:DescriptionOfAccountingPolicyForInterestIncomeAndExpenseExplanatory",
    "language": "en",
    "entity": "scheme:724500UL634GFV1KYF10",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
   }
  },
  "pp-value-153-2": {
   "value": "Net finance costs In EUR millions  2022  2021 Interest income  7.3  5.6 Interest income  7.3  5.6 1 Interest expense on interest-bearing loans 100.6  89.5 Interest expense on lease liabilities  23.2  22.4 Capitalized interest  - 4.4  - 5.9 Interest component of provisions  0.6  0.2 Fair value movements of (part of) derivative financial instruments (no hedge accounting)  14.7  - 7.4 2 Exchange differences on underlying items - 10.8  9.3 Other  4.1  4.0 Finance costs  128.0  112.1 Net finance costs  120.7  106.5 1  Interest expense includes the impact of interest rate derivatives that are part of a fair value hedge accounting relationship and/or the recycling of results from the cash flow hedge reserve. 2  Exchange differences on underlying items includes the impact of foreign currency derivatives that are part of a fair value hedge accounting relationship and/or the recycling of results from the cash flow hedge reserve. In 2022, the Group\u2019s net finance costs amounted to EUR 120.7 million compared to EUR 106.5 million in 2021. The increase is resulting from higher interest expenses on increased interest-bearing debt compared to 2021. In 2022, capitalized interest during construction was subject to an average interest rate of 3.0% (2021: 2.7%). ",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfBorrowingCostsExplanatory",
    "language": "en",
    "entity": "scheme:724500UL634GFV1KYF10",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
   }
  },
  "pp-value-153-3": {
   "value": "Net finance costs In EUR millions  2022  2021 Interest income  7.3  5.6 Interest income  7.3  5.6 1 Interest expense on interest-bearing loans 100.6  89.5 Interest expense on lease liabilities  23.2  22.4 Capitalized interest  - 4.4  - 5.9 Interest component of provisions  0.6  0.2 Fair value movements of (part of) derivative financial instruments (no hedge accounting)  14.7  - 7.4 2 Exchange differences on underlying items - 10.8  9.3 Other  4.1  4.0 Finance costs  128.0  112.1 Net finance costs  120.7  106.5 1  Interest expense includes the impact of interest rate derivatives that are part of a fair value hedge accounting relationship and/or the recycling of results from the cash flow hedge reserve. 2  Exchange differences on underlying items includes the impact of foreign currency derivatives that are part of a fair value hedge accounting relationship and/or the recycling of results from the cash flow hedge reserve. In 2022, the Group\u2019s net finance costs amounted to EUR 120.7 million compared to EUR 106.5 million in 2021. The increase is resulting from higher interest expenses on increased interest-bearing debt compared to 2021. In 2022, capitalized interest during construction was subject to an average interest rate of 3.0% (2021: 2.7%). ",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfFinanceIncomeExpenseExplanatory",
    "language": "en",
    "entity": "scheme:724500UL634GFV1KYF10",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
   }
  },
  "pp-value-153-4": {
   "value": "Net finance costs In EUR millions  2022  2021 Interest income  7.3  5.6 Interest income  7.3  5.6 1 Interest expense on interest-bearing loans 100.6  89.5 Interest expense on lease liabilities  23.2  22.4 Capitalized interest  - 4.4  - 5.9 Interest component of provisions  0.6  0.2 Fair value movements of (part of) derivative financial instruments (no hedge accounting)  14.7  - 7.4 2 Exchange differences on underlying items - 10.8  9.3 Other  4.1  4.0 Finance costs  128.0  112.1 Net finance costs  120.7  106.5 1  Interest expense includes the impact of interest rate derivatives that are part of a fair value hedge accounting relationship and/or the recycling of results from the cash flow hedge reserve. 2  Exchange differences on underlying items includes the impact of foreign currency derivatives that are part of a fair value hedge accounting relationship and/or the recycling of results from the cash flow hedge reserve. In 2022, the Group\u2019s net finance costs amounted to EUR 120.7 million compared to EUR 106.5 million in 2021. The increase is resulting from higher interest expenses on increased interest-bearing debt compared to 2021. In 2022, capitalized interest during construction was subject to an average interest rate of 3.0% (2021: 2.7%). ",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfFinanceCostExplanatory",
    "language": "en",
    "entity": "scheme:724500UL634GFV1KYF10",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
   }
  },
  "pp-value-153-5": {
   "value": "Net finance costs In EUR millions  2022  2021 Interest income  7.3  5.6 Interest income  7.3  5.6 1 Interest expense on interest-bearing loans 100.6  89.5 Interest expense on lease liabilities  23.2  22.4 Capitalized interest  - 4.4  - 5.9 Interest component of provisions  0.6  0.2 Fair value movements of (part of) derivative financial instruments (no hedge accounting)  14.7  - 7.4 2 Exchange differences on underlying items - 10.8  9.3 Other  4.1  4.0 Finance costs  128.0  112.1 Net finance costs  120.7  106.5 1  Interest expense includes the impact of interest rate derivatives that are part of a fair value hedge accounting relationship and/or the recycling of results from the cash flow hedge reserve. 2  Exchange differences on underlying items includes the impact of foreign currency derivatives that are part of a fair value hedge accounting relationship and/or the recycling of results from the cash flow hedge reserve. In 2022, the Group\u2019s net finance costs amounted to EUR 120.7 million compared to EUR 106.5 million in 2021. The increase is resulting from higher interest expenses on increased interest-bearing debt compared to 2021. In 2022, capitalized interest during construction was subject to an average interest rate of 3.0% (2021: 2.7%). ",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfInterestIncomeExpenseExplanatory",
    "language": "en",
    "entity": "scheme:724500UL634GFV1KYF10",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
   }
  },
  "pp-value-153-6": {
   "value": "Net finance costs In EUR millions  2022  2021 Interest income  7.3  5.6 Interest income  7.3  5.6 1 Interest expense on interest-bearing loans 100.6  89.5 Interest expense on lease liabilities  23.2  22.4 Capitalized interest  - 4.4  - 5.9 Interest component of provisions  0.6  0.2 Fair value movements of (part of) derivative financial instruments (no hedge accounting)  14.7  - 7.4 2 Exchange differences on underlying items - 10.8  9.3 Other  4.1  4.0 Finance costs  128.0  112.1 Net finance costs  120.7  106.5 1  Interest expense includes the impact of interest rate derivatives that are part of a fair value hedge accounting relationship and/or the recycling of results from the cash flow hedge reserve. 2  Exchange differences on underlying items includes the impact of foreign currency derivatives that are part of a fair value hedge accounting relationship and/or the recycling of results from the cash flow hedge reserve. In 2022, the Group\u2019s net finance costs amounted to EUR 120.7 million compared to EUR 106.5 million in 2021. The increase is resulting from higher interest expenses on increased interest-bearing debt compared to 2021. In 2022, capitalized interest during construction was subject to an average interest rate of 3.0% (2021: 2.7%). ",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfInterestExpenseExplanatory",
    "language": "en",
    "entity": "scheme:724500UL634GFV1KYF10",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
   }
  },
  "pp-value-153-7": {
   "value": "Net finance costs In EUR millions  2022  2021 Interest income  7.3  5.6 Interest income  7.3  5.6 1 Interest expense on interest-bearing loans 100.6  89.5 Interest expense on lease liabilities  23.2  22.4 Capitalized interest  - 4.4  - 5.9 Interest component of provisions  0.6  0.2 Fair value movements of (part of) derivative financial instruments (no hedge accounting)  14.7  - 7.4 2 Exchange differences on underlying items - 10.8  9.3 Other  4.1  4.0 Finance costs  128.0  112.1 Net finance costs  120.7  106.5 1  Interest expense includes the impact of interest rate derivatives that are part of a fair value hedge accounting relationship and/or the recycling of results from the cash flow hedge reserve. 2  Exchange differences on underlying items includes the impact of foreign currency derivatives that are part of a fair value hedge accounting relationship and/or the recycling of results from the cash flow hedge reserve. ",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfFinanceIncomeExplanatory",
    "language": "en",
    "entity": "scheme:724500UL634GFV1KYF10",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
   }
  },
  "pp-value-153-8": {
   "value": "Net finance costs In EUR millions  2022  2021 Interest income  7.3  5.6 Interest income  7.3  5.6 1 Interest expense on interest-bearing loans 100.6  89.5 Interest expense on lease liabilities  23.2  22.4 Capitalized interest  - 4.4  - 5.9 Interest component of provisions  0.6  0.2 Fair value movements of (part of) derivative financial instruments (no hedge accounting)  14.7  - 7.4 2 Exchange differences on underlying items - 10.8  9.3 Other  4.1  4.0 Finance costs  128.0  112.1 Net finance costs  120.7  106.5 1  Interest expense includes the impact of interest rate derivatives that are part of a fair value hedge accounting relationship and/or the recycling of results from the cash flow hedge reserve. 2  Exchange differences on underlying items includes the impact of foreign currency derivatives that are part of a fair value hedge accounting relationship and/or the recycling of results from the cash flow hedge reserve. ",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfInterestIncomeExplanatory",
    "language": "en",
    "entity": "scheme:724500UL634GFV1KYF10",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
   }
  },
  "pp-value-156-2": {
   "value": "Note 6.1 Gener<span class=\"_ _3\"/>al Overview of financial r<span class=\"_ _3\"/>isk management b<span class=\"_ _7\"/>y the Group The table below pro<span class=\"_ _7\"/>vides an ov<span class=\"_ _7\"/>er<span class=\"_ _5\"/>view of the financial risks to whic<span class=\"_ _3\"/>h the Group is exposed, where these financial risks are arising from and how these risks are measured and <span class=\"fc4 sc0\">FIN</span>managed by the Group. <span class=\"fc4 sc0\">Ov</span><span class=\"fc4 sc0\">erview of financial r</span><span class=\"_ _3\"/><span class=\"fc4 sc0\">isk manag</span><span class=\"fc4 sc0\">ement b</span><span class=\"_ _7\"/><span class=\"fc4 sc0\">y the Gr</span><span class=\"fc4 sc0\">oup</span>Note<span class=\"_ _37\"> </span>Risk<span class=\"_ _54\"> </span>Wher<span class=\"_ _7\"/>e is the risk exposur<span class=\"_ _3\"/>e arising from<span class=\"_ _88\"> </span>How is the r<span class=\"_ _3\"/>isk exposure measur<span class=\"_ _7\"/>ed<span class=\"_ _86\"> </span>How is the r<span class=\"_ _7\"/>isk management by the Gr<span class=\"_ _3\"/>oup6.3<span class=\"_ _1b\"> </span><span class=\"ffb0\">Curr<span class=\"_ _7\"/>ency r<span class=\"_ _7\"/>isk</span>\u2022 <span class=\"_ _b3\"> </span><span class=\"fc1\">Recogniz<span class=\"_ _7\"/>ed financial assets and liabilities </span>\u2022 <span class=\"_ _b3\"> </span><span class=\"fc1\">Sensitivity analysis</span>V<span class=\"_ _3\"/>opak hedges its foreign currency risk e<span class=\"_ _7\"/>xposure resulting from<span class=\"_ _5\"/> (market risk)denominated in a currency other than the \u2022 <span class=\"_ _b3\"> </span><span class=\"fc1\">Cash flow f<span class=\"_ _7\"/>orecasting </span>net interest-bearingfunctional currency of the entity concerneddebt and intercompany positions in principle in full. <span class=\"_ _9\"/>T<span class=\"_ _7\"/>his is<span class=\"_ _5\"/> \u2022 <span class=\"_ _b3\"> </span><span class=\"fc1\">F<span class=\"_ _7\"/>uture transactions</span>primarily done via for<span class=\"_ _5\"/>ward e<span class=\"_ _7\"/>xc<span class=\"_ _3\"/>hange contracts and cross-\u2022 <span class=\"_ _b3\"> </span><span class=\"fc1\">Net inv<span class=\"_ _7\"/>estments in foreign operations</span>currency interest rate swaps (CCIR<span class=\"_ _7\"/>Ss). \u2022 <span class=\"_ _b3\"> </span><span class=\"fc1 ls26\">Of the tot<span class=\"_ _5\"/>al interest-bearing debt denominated in another </span>currency than the functional currency concerned, 36% w<span class=\"_ _7\"/>as hedged by means of cash flo<span class=\"_ _7\"/>w hedges per year<span class=\"_ _9\"/>-end 2022.\u2022 <span class=\"_ _b3\"> </span><span class=\"fc1 ls26\">Of the tot<span class=\"_ _5\"/>al net inv<span class=\"_ _7\"/>estments in foreign currencies held b<span class=\"_ _7\"/>y </span>the Group 46% was under a net in<span class=\"_ _7\"/>vestment hedge.\u2022 The remaining currency risk on the net interest-bearing debt and intercompany positions f<span class=\"_ _7\"/>or whic<span class=\"_ _7\"/>h neither cash flow hedge accounting nor net inv<span class=\"_ _7\"/>estment hedge accounting is applied, is hedged via currency derivativ<span class=\"_ _7\"/>es. Since no hedge accounting is applied the gains and losses on the derivativ<span class=\"_ _7\"/>es and the foreign currency gains and losses on the net interest-bearing debt are alwa<span class=\"_ _7\"/>ys recognized in the income statement in the same period, est<span class=\"_ _5\"/>ablishing the same ef<span class=\"_ _7\"/>f<span class=\"_ _7\"/>ect as when hedge accounting would be applied.6.4<span class=\"_ _1b\"> </span><span class=\"ffb0\">Interest r<span class=\"_ _7\"/>ate r<span class=\"_ _3\"/>isk</span>\u2022 <span class=\"_ _b3\"> </span><span class=\"fc1\">Net interest bearing debt at variable interest rates<span class=\"_ _fe\"> </span></span>\u2022 <span class=\"_ _b3\"> </span><span class=\"fc1\">Sensitivit<span class=\"_ _5\"/>y analysis</span>P<span class=\"_ _3\"/>er year<span class=\"_ _3\"/>-end 2022, 70% of the total interest-bearing (market risk)\u2022 <span class=\"_ _b3\"> </span><span class=\"fc1\">Fixed-to-floating ratio</span>loans was financed at a fix<span class=\"_ _7\"/>ed interest rate. For both y<span class=\"_ _7\"/>ears presented no use was made of Interest rate sw<span class=\"_ _7\"/>aps (IRSs) and/or cross-currency interest rate swaps (CCIR<span class=\"_ _7\"/>Ss) to hedge the interest rate risk.6.5<span class=\"_ _1b\"> </span><span class=\"ffb0\">Equity securities pr<span class=\"_ _3\"/>ice risk</span>\u2022 <span class=\"_ _b3\"> </span><span class=\"fc1\">Inv<span class=\"_ _7\"/>estments in equity securities<span class=\"_ _11f\"> </span><span class=\"fc7\">\u2022 <span class=\"_ _b3\"> </span></span>Sensitivit<span class=\"_ _5\"/>y analysis</span>The group has a limited number of equity inv<span class=\"_ _7\"/>estments whic<span class=\"_ _7\"/>h (market risk)are measured at fair v<span class=\"_ _7\"/>alue through OCI. <span class=\"_ _9\"/>The total carr<span class=\"_ _5\"/>ying value of these in<span class=\"_ _7\"/>vestments is EUR 94.0 million.6.6<span class=\"_ _1b\"> </span><span class=\"ffb0\">Credit r<span class=\"_ _7\"/>isk <span class=\"ffb1\">(customer and counterparty)<span class=\"_ _1b\"> </span><span class=\"fc7\">\u2022 <span class=\"_ _b3\"> </span></span>Cash and cash equivalents</span></span>\u2022 <span class=\"_ _b3\"> </span><span class=\"fc1\">Aging analy<span class=\"_ _7\"/>sis</span>\u2022 Operational receivables: relativ<span class=\"_ _7\"/>ely short payment periods, \u2022 <span class=\"_ _b3\"> </span><span class=\"fc1\">T<span class=\"_ _9\"/>rade and other receivables</span>\u2022 <span class=\"_ _b3\"> </span><span class=\"fc1\">Credit ratings</span>combined with in many instances a retention right on the \u2022 <span class=\"_ _b3\"> </span><span class=\"fc1\">Finance lease receivables </span>\u2022 <span class=\"_ _b3\"> </span><span class=\"fc1\">Exposure per counterparty</span>stored product in connection with trade receivables.\u2022 <span class=\"_ _b3\"> </span><span class=\"fc1\">Derivativ<span class=\"_ _7\"/>es </span>\u2022 <span class=\"_ _b3\"> </span><span class=\"fc1\">Loans granted relate to financing of <span class=\"_ _9\"/>V<span class=\"_ _7\"/>opak network </span>\u2022 <span class=\"_ _b3\"> </span><span class=\"fc1\">Loans granted</span>companies (joint vent<span class=\"_ _7\"/>ures and associates).\u2022 <span class=\"_ _b3\"> </span><span class=\"fc1\">Commit<span class=\"_ _7\"/>ted credit facilities</span>\u2022 <span class=\"_ _b3\"> </span><span class=\"fc1\">Spreading of liquidity investments across a select </span>group of high rated financial institutions limiting undue exposure to one financial instit<span class=\"_ _7\"/>ution.\u2022 <span class=\"_ _b3\"> </span><span class=\"fc1 lsb7\">During the years presented no material impairments were </span>recognized on financial receiv<span class=\"_ _7\"/>ables.6.7<span class=\"_ _1b\"> </span><span class=\"ffb0\">Liquidity risk<span class=\"_ _9b\"> </span></span>Net interest bearing debt, other (cur<span class=\"_ _7\"/>rent) liabilities \u2022 <span class=\"_ _b3\"> </span><span class=\"fc1\">Long-term scenario planning</span>Diversified funding and a<span class=\"_ _7\"/>vailability of commit<span class=\"_ _7\"/>ted and and of<span class=\"_ _7\"/>f-balance sheet commitments\u2022 <span class=\"_ _b3\"> </span><span class=\"fc1\">Cash flow f<span class=\"_ _7\"/>orecasts  </span>uncommit<span class=\"_ _7\"/>ted credit facilities.(incl. annual budget cycle)At year<span class=\"_ _9\"/>-end 2022 the Group had unused commit<span class=\"_ _7\"/>ted credit \u2022 <span class=\"_ _b3\"> </span><span class=\"fc1\">Amount of unused credit facilities</span>facilities of EUR 7<span class=\"_ _9\"/>69.8 million.  Financial r<span class=\"_ _7\"/>isk management  The Group is e<span class=\"_ _7\"/>xposed to a number of financial risks inherent in its day<span class=\"_ _7\"/>-to-day operations. These risks are connected with the ef<span class=\"_ _3\"/>f<span class=\"_ _7\"/>ects of mov<span class=\"_ _7\"/>ements in exc<span class=\"_ _3\"/>hange rates and interest rates. <span class=\"_ _9\"/>T<span class=\"_ _7\"/>he Group is also exposed to credit risk and liquidity risk. Financial risk management, ex<span class=\"_ _7\"/>cept for customer credit risk and operational w<span class=\"_ _7\"/>orking capital management, is controlled by Global <span class=\"_ _8\"/>T<span class=\"_ _9\"/>reasur<span class=\"_ _5\"/>y<span class=\"_ _9\"/>, the central treasur<span class=\"_ _5\"/>y department, based on policies approv<span class=\"_ _7\"/>ed by the Ex<span class=\"_ _7\"/>ecutive B<span class=\"_ _7\"/>oard. Global <span class=\"_ _9\"/>T<span class=\"_ _9\"/>reasury identifies the financial risks and discusses these, together with the related hedge proposals, in detail with the CFO. <span class=\"_ _8\"/>The Executiv<span class=\"_ _7\"/>e Board pro<span class=\"_ _7\"/>vides writ<span class=\"_ _7\"/>ten principles for o<span class=\"_ _7\"/>verall risk management as w<span class=\"_ _7\"/>ell as writ<span class=\"_ _7\"/>ten policies cov<span class=\"_ _7\"/>ering specific areas suc<span class=\"_ _3\"/>h as foreign ex<span class=\"_ _7\"/>c<span class=\"_ _7\"/>hange risk, interest risk, counterparty credit risk, use of derivativ<span class=\"_ _7\"/>e financial instruments and non-deriv<span class=\"_ _7\"/>ative financial instr<span class=\"_ _7\"/>uments, and inv<span class=\"_ _7\"/>estment of ex<span class=\"_ _7\"/>cess liquidity<span class=\"_ _3\"/>. Reports on risk and risk management are submit<span class=\"_ _7\"/>ted on a regular basis. Hedging alternatives are discussed b<span class=\"_ _7\"/>y the Global <span class=\"_ _9\"/>T<span class=\"_ _8\"/>reasur<span class=\"_ _5\"/>y and Global Control departments in close co-operation with the CFO. In order to control the risks at<span class=\"_ _3\"/>t<span class=\"_ _5\"/>ac<span class=\"_ _3\"/>hed to fluctuations in foreign cur<span class=\"_ _7\"/>rencies and interest rates, V<span class=\"_ _3\"/>opak uses derivativ<span class=\"_ _7\"/>e financial instruments in accordance with a cur<span class=\"_ _7\"/>rency risk management policy approv<span class=\"_ _7\"/>ed by the Ex<span class=\"_ _7\"/>ecutive B<span class=\"_ _7\"/>oard. <span class=\"_ _9\"/>This financial policy is designed to control the ef<span class=\"_ _3\"/>f<span class=\"_ _7\"/>ects of suc<span class=\"_ _3\"/>h risks on cash flows, equity and results. Derivatives are used e<span class=\"_ _7\"/>xclusiv<span class=\"_ _7\"/>ely for hedging purposes and are not permit<span class=\"_ _3\"/>ted to be used as trading or speculative instruments. The areas in<span class=\"_ _7\"/>volving the most significant financial risks are trade and other receiv<span class=\"_ _7\"/>ables, foreign cur<span class=\"_ _7\"/>rency exc<span class=\"_ _3\"/>hange risk arising from fut<span class=\"_ _7\"/>ure commercial transactions, recognized assets and liabilities and net inv<span class=\"_ _7\"/>estments in foreign operations, net finance costs resulting from fluctuations in mark<span class=\"_ _7\"/>et interest rates and liquidity risks. Detailed information on the specific risk exposures is included in the rele<span class=\"_ _7\"/>vant disclosure notes in this section.  The Group has not identified additional financial risk e<span class=\"_ _7\"/>xposures in 2022 compared to the previous y<span class=\"_ _7\"/>ear<span class=\"_ _3\"/>.  How<span class=\"_ _7\"/>ev<span class=\"_ _7\"/>er there were c<span class=\"_ _3\"/>hanges in the magnitude of e<span class=\"_ _7\"/>xisting risk exposures as a result of geopolitical and macro-economic dev<span class=\"_ _7\"/>elopments further disclosed in note 9.3. The approac<span class=\"_ _3\"/>h to capital management and financial risk management activities remained unc<span class=\"_ _3\"/>hanged compared to prior year<span class=\"_ _3\"/>. Ref<span class=\"_ _3\"/>erence is also made to note 5.1<span class=\"_ _8\"/>. Note 6.2 Der<span class=\"_ _3\"/>iv<span class=\"_ _3\"/>atives and hedge accounting In order to control the risks at<span class=\"_ _3\"/>t<span class=\"_ _5\"/>ac<span class=\"_ _3\"/>hed to fluctuations in foreign cur<span class=\"_ _7\"/>rencies and interest rates, V<span class=\"_ _3\"/>opak uses derivativ<span class=\"_ _7\"/>e financial instruments in accordance with a financial policy appro<span class=\"_ _7\"/>ved b<span class=\"_ _7\"/>y the Executiv<span class=\"_ _7\"/>e Board. <span class=\"_ _8\"/>This financial policy is designed to control the ef<span class=\"_ _3\"/>fects of suc<span class=\"_ _3\"/>h risks on cash flows, equity and results. Speculative positions are not allo<span class=\"_ _7\"/>wed. The main deriv<span class=\"_ _7\"/>ative financial instr<span class=\"_ _7\"/>uments used by the Group are f<span class=\"_ _7\"/>or<span class=\"_ _5\"/>ward ex<span class=\"_ _7\"/>c<span class=\"_ _7\"/>hange contracts (F<span class=\"_ _7\"/>or<span class=\"_ _5\"/>wards), interest rate swaps (IR<span class=\"_ _7\"/>Ss) and cross-currency interest rate swaps (CCIR<span class=\"_ _3\"/>Ss). Hedge accounting is applied to remov<span class=\"_ _7\"/>e the accounting mismatc<span class=\"_ _3\"/>h bet<span class=\"_ _5\"/>ween the hedging instrument and the hedged item. <span class=\"_ _8\"/>This will ef<span class=\"_ _3\"/>f<span class=\"_ _7\"/>ectively result in recognizing interest expense at a fixed interest rate f<span class=\"_ _7\"/>or the hedged loans, and removing the currency e<span class=\"_ _3\"/>xposure from loans and receivables as w<span class=\"_ _7\"/>ell as purc<span class=\"_ _3\"/>hases of propert<span class=\"_ _5\"/>y<span class=\"_ _3\"/>, plant and equipment at the fixed f<span class=\"_ _7\"/>oreign currency rate f<span class=\"_ _7\"/>or the hedged items. A<span class=\"_ _1e\"> </span><span class=\"ff3 fs9\">Accounting policies </span>Derivativ<span class=\"_ _7\"/>e financial instruments are recogniz<span class=\"_ _7\"/>ed in the statement of financial position on the transaction date and measured at fair v<span class=\"_ _7\"/>alue. Changes in fair v<span class=\"_ _7\"/>alue are recognized in the statement of income unless hedge accounting is applied. <span class=\"_ _3\"/>W<span class=\"_ _5\"/>ith respect to hedge accounting, V<span class=\"_ _3\"/>opak makes a distinction between f<span class=\"_ _7\"/>air value hedges, cash flo<span class=\"_ _7\"/>w hedges and hedges of net inv<span class=\"_ _7\"/>estments in foreign operations. Derivativ<span class=\"_ _7\"/>es are only used for economic hedging purposes and not as speculativ<span class=\"_ _7\"/>e inv<span class=\"_ _7\"/>estments. How<span class=\"_ _7\"/>ev<span class=\"_ _7\"/>er<span class=\"_ _3\"/>, where derivativ<span class=\"_ _7\"/>es do not meet the hedging criteria, they are classified as \u2018held for trading\u2019 f<span class=\"_ _7\"/>or accounting purposes. At the inception of the hedging transaction, the Group formally designates and documents the economic relationship between eligible hedging instruments and hedged items to whic<span class=\"_ _3\"/>h it will apply hedge accounting and the risk management objective and strategy f<span class=\"_ _7\"/>or undertaking the hedge.  The documentation includes identification of the hedging instrument, the hedged item, the nature of the risk being hedged and ho<span class=\"_ _7\"/>w the Group will assess whether the hedging relationship meets the hedge ef<span class=\"_ _7\"/>f<span class=\"_ _7\"/>ectiveness requirements (including the analy<span class=\"_ _7\"/>sis of sources of hedge inef<span class=\"_ _7\"/>f<span class=\"_ _7\"/>ectiveness and ho<span class=\"_ _7\"/>w the hedge ratio is determined). A hedging relationship qualifies for hedge accounting if it meets all of the f<span class=\"_ _7\"/>ollowing ef<span class=\"_ _3\"/>f<span class=\"_ _7\"/>ectiveness requirements: \u2022 <span class=\"_ _19f\"> </span>There is \u2018an economic relationship\u2019 between the hedged item and the hedging instr<span class=\"_ _7\"/>ument \u2022 <span class=\"_ _19f\"> </span><span class=\"fc1\">The ef<span class=\"_ _3\"/>f<span class=\"_ _7\"/>ect of credit risk does not \u2018dominate the value c<span class=\"_ _3\"/>hanges\u2019 that result from that </span>economic relationship \u2022 <span class=\"_ _19f\"> </span>The hedge ratio of the hedging relationship is the same as that resulting from the quantity of the hedged item that the Group actually hedges and the quantity of the hedging instrument that the Group act<span class=\"_ _3\"/>ually uses to hedge that quantit<span class=\"_ _5\"/>y of hedged item. Hedge ef<span class=\"_ _7\"/>f<span class=\"_ _7\"/>ectiveness is determined at the inception of the hedge relationship, and through periodic prospective ef<span class=\"_ _3\"/>f<span class=\"_ _7\"/>ectiveness assessments, to ensure that an economic relationship exists between the hedged item and hedging instr<span class=\"_ _7\"/>ument. F<span class=\"_ _7\"/>air v<span class=\"_ _7\"/>alue hedges The Group normally only applies f<span class=\"_ _7\"/>air value hedge accounting f<span class=\"_ _7\"/>or hedging fixed-interest risk on loans drawn. Changes in the f<span class=\"_ _7\"/>air value of deriv<span class=\"_ _7\"/>atives that are designated and qualify as f<span class=\"_ _7\"/>air value hedges are recorded in the income statement, together with any c<span class=\"_ _3\"/>hanges in the fair value of the hedged item that are at<span class=\"_ _3\"/>tributable to the hedged risk. <span class=\"_ _9\"/>The gain or loss relating to the ef<span class=\"_ _7\"/>f<span class=\"_ _7\"/>ective and inef<span class=\"_ _3\"/>f<span class=\"_ _7\"/>ective portion of the derivativ<span class=\"_ _7\"/>e is recognized in the income statement within Net finance costs, together with c<span class=\"_ _3\"/>hanges in the fair value of the hedged fix<span class=\"_ _7\"/>ed-rate borro<span class=\"_ _7\"/>wings at<span class=\"_ _7\"/>tributable to interest rate risk. F<span class=\"_ _7\"/>or fair v<span class=\"_ _7\"/>alue hedges relating to items carried at amortized cost, an<span class=\"_ _7\"/>y adjustment to carr<span class=\"_ _5\"/>ying value is amortiz<span class=\"_ _7\"/>ed through the income statement over the remaining term of the hedge using the Ef<span class=\"_ _7\"/>f<span class=\"_ _7\"/>ective Interest R<span class=\"_ _7\"/>ate (EIR) method. <span class=\"_ _9\"/>The EIR amortization ma<span class=\"_ _7\"/>y begin as soon as an adjustment exists and no later than when the hedged item ceases to be adjusted f<span class=\"_ _7\"/>or c<span class=\"_ _3\"/>hanges in its fair value at<span class=\"_ _3\"/>tributable to the risk being hedged. If the hedge no longer meets the criteria for hedge accounting, the adjustment to the carr<span class=\"_ _5\"/>ying amount of a hedged item f<span class=\"_ _7\"/>or whic<span class=\"_ _7\"/>h the ef<span class=\"_ _7\"/>f<span class=\"_ _7\"/>ective interest method is used is amortized to the income statement ov<span class=\"_ _7\"/>er the period to maturity using a recalculated ef<span class=\"_ _3\"/>fectiv<span class=\"_ _7\"/>e interest rate. Cash flow hedg<span class=\"_ _7\"/>es A cash flow hedge is applicable f<span class=\"_ _7\"/>or those derivativ<span class=\"_ _7\"/>es qualifying and designated as a hedge of the c<span class=\"_ _3\"/>hange in cash flows to be received or paid relating to a recogniz<span class=\"_ _7\"/>ed asset or liability or a highly probable forecasted transaction. Hedge ef<span class=\"_ _3\"/>f<span class=\"_ _7\"/>ectiveness is determined at the inception of the hedge relationship, and through periodic prospective ef<span class=\"_ _3\"/>f<span class=\"_ _7\"/>ectiveness assessments to ensure that an economic relationship exists between the hedged item and hedging instrument. <span class=\"_ _8\"/>The Group enters into hedge relationships where the critical terms of the hedging instrument matc<span class=\"_ _3\"/>h exactly with the terms of the hedged item, and thus a qualitative assessment of ef<span class=\"_ _7\"/>f<span class=\"_ _7\"/>ectiveness is perf<span class=\"_ _7\"/>ormed. If c<span class=\"_ _7\"/>hanges in circumstances aff<span class=\"_ _3\"/>ect the terms of the hedged item suc<span class=\"_ _3\"/>h that the critical terms no longer match e<span class=\"_ _3\"/>xactly with the critical terms of the hedging instrument, the Group uses the dollar of<span class=\"_ _3\"/>fset method to assess ef<span class=\"_ _7\"/>f<span class=\"_ _7\"/>ectiveness. The ef<span class=\"_ _3\"/>f<span class=\"_ _7\"/>ective parts of c<span class=\"_ _3\"/>hanges in the fair value of deriv<span class=\"_ _7\"/>ative financial instr<span class=\"_ _3\"/>uments are recognized in Other comprehensiv<span class=\"_ _7\"/>e income. Inef<span class=\"_ _7\"/>f<span class=\"_ _7\"/>ectiveness on cash flo<span class=\"_ _7\"/>w hedges is recognized where the cumulativ<span class=\"_ _7\"/>e c<span class=\"_ _3\"/>hange in the designated component value of the hedging instrument e<span class=\"_ _7\"/>xceeds, on an absolute basis, the c<span class=\"_ _3\"/>hange in value of the hedged item at<span class=\"_ _3\"/>tribut<span class=\"_ _5\"/>able to the hedged risk. The gain or loss as a result of inef<span class=\"_ _3\"/>f<span class=\"_ _7\"/>ectiveness and the interest component that is a result of the time value of mone<span class=\"_ _7\"/>y in the valuation of the deriv<span class=\"_ _7\"/>ative financial instr<span class=\"_ _7\"/>ument are recognized directly in the statement of income. <span class=\"_ _9\"/>This also applies to the credit risks on deriv<span class=\"_ _7\"/>atives, unless the cumulative c<span class=\"_ _3\"/>hange in the fair v<span class=\"_ _7\"/>alue of the hedging instrument is lo<span class=\"_ _7\"/>wer than the hedged item. Amounts accumulated in equity are reclassified to profit or loss at the same date as the hedged transaction af<span class=\"_ _7\"/>f<span class=\"_ _7\"/>ects profit or loss or if the hedged transaction is no longer probable. The ef<span class=\"_ _3\"/>f<span class=\"_ _7\"/>ects are shown under Finance costs. If the established agreement or the foreseeable transaction that is hedged results in the recognition of a non-financial asset, the accumulated gains or losses previously def<span class=\"_ _3\"/>erred in equity are reclassified from equit<span class=\"_ _5\"/>y and recognized in the initial recognition of the asset or liability<span class=\"_ _3\"/>. If a hedging instrument or the hedge relationship is terminated but the hedged transaction is still expected to take place, the accumulated gains or losses will remain in equity at that time and will subsequently be recognized in the statement of income when the previously hedged transaction takes place. Net inv<span class=\"_ _7\"/>estment hedges Net inv<span class=\"_ _7\"/>estments in foreign operations can be hedged (net in<span class=\"_ _7\"/>vestment hedge) b<span class=\"_ _7\"/>y qualifying and designated derivativ<span class=\"_ _7\"/>e financial instruments or debt instr<span class=\"_ _3\"/>uments denominated in foreign currency<span class=\"_ _9\"/>. Hedges of a net investment in a f<span class=\"_ _7\"/>oreign operation, including a hedge of a monetar<span class=\"_ _5\"/>y item that is accounted for as part of the net in<span class=\"_ _7\"/>vestment, are accounted f<span class=\"_ _7\"/>or in a wa<span class=\"_ _7\"/>y similar to cash flow hedges. Gains or losses on the hedging instr<span class=\"_ _7\"/>ument relating to the ef<span class=\"_ _3\"/>fectiv<span class=\"_ _7\"/>e portion of the hedge are recognized in the translation reserve (equity component) via OCI to the extent that the<span class=\"_ _7\"/>y relate to the hedging of net inv<span class=\"_ _7\"/>estments in foreign activities. <span class=\"_ _8\"/>The gain or loss relating to the inef<span class=\"_ _7\"/>f<span class=\"_ _7\"/>ective portion is recogniz<span class=\"_ _7\"/>ed immediately in the income statement. Re<span class=\"_ _7\"/>versal through the statement of income takes place proportionately if all or part of the underlying position is derecognized. <span class=\"_ _8\"/>The inef<span class=\"_ _3\"/>fectiv<span class=\"_ _7\"/>e part and the interest component are recognized directly in the statement of income.  Der<span class=\"_ _7\"/>iv<span class=\"_ _7\"/>atives that do not qualify f<span class=\"_ _7\"/>or hedge accounting Certain derivative instr<span class=\"_ _7\"/>uments do not qualify for hedge accounting. Changes in the fair v<span class=\"_ _7\"/>alue of any deriv<span class=\"_ _7\"/>ative instr<span class=\"_ _7\"/>ument that does not qualify for hedge accounting are recogniz<span class=\"_ _7\"/>ed immediately in the income statement and are included in the Finance costs. <span class=\"_ _9\"/>This mainly comprises derivativ<span class=\"_ _7\"/>es that are used to hedge the foreign currency risk on intra-group positions. Although the deriv<span class=\"_ _7\"/>atives ha<span class=\"_ _7\"/>ve not been designated in a hedge relationship, the<span class=\"_ _7\"/>y act as an economic hedge and will of<span class=\"_ _7\"/>fset the underlying transactions when they occur<span class=\"_ _9\"/>. <span class=\"ff3 fsc\">Ke<span class=\"_ _7\"/>y accounting estimates and judgments </span>The f<span class=\"_ _7\"/>air value of a derivativ<span class=\"_ _7\"/>e financial instrument not traded on activ<span class=\"_ _7\"/>e markets is measured as the present value of the e<span class=\"_ _7\"/>xpected future cash flo<span class=\"_ _7\"/>ws under the contract (level 2 f<span class=\"_ _7\"/>air value). In determining this value, a v<span class=\"_ _7\"/>aluation model is used that is based on the interest rates and the ex<span class=\"_ _7\"/>c<span class=\"_ _7\"/>hange rates as at the end of the reporting period. Ref<span class=\"_ _3\"/>erence is made to note 9.9 for more information.  Reconciliation of der<span class=\"_ _7\"/>iv<span class=\"_ _7\"/>ative financial instr<span class=\"_ _3\"/>uments The ne<span class=\"_ _7\"/>xt table shows the ef<span class=\"_ _7\"/>f<span class=\"_ _7\"/>ects of combining the currency derivativ<span class=\"_ _7\"/>e financial instruments (see note 6.3) and the interest derivativ<span class=\"_ _7\"/>e financial instruments (see note 6.4) and a reconciliation to the Consolidated statement of financial position. 31 December 2022 <span class=\"_ _5d\"> </span>31 December 2021 In EUR millions <span class=\"_ _261\"> </span>Note <span class=\"_ _15a\"> </span>Assets <span class=\"_ _ce\"> </span>Liabilities <span class=\"_ _18a\"> </span>T<span class=\"_ _8\"/>otal <span class=\"_ _15a\"> </span><span class=\"fc7\">Assets <span class=\"_ _ce\"> </span>Liabilities <span class=\"_ _18a\"> </span>T<span class=\"_ _8\"/>otal </span>Currency derivativ<span class=\"_ _7\"/>e financial instruments <span class=\"_ _2b6\"> </span><span class=\"ff3 fc13\">6.3 <span class=\"_ _3f\"> </span></span>73.4 <span class=\"_ _db\"> </span>6.0 <span class=\"_ _108\"> </span>67<span class=\"_ _1\"/>.4 <span class=\"_ _45\"> </span>43.6 <span class=\"_ _80\"> </span>7<span class=\"_ _1\"/>.6 <span class=\"_ _45\"> </span>36.0 T<span class=\"_ _8\"/>otal deriv<span class=\"_ _7\"/>ative financial instr<span class=\"_ _3\"/>uments 73.4 <span class=\"_ _cb\"> </span>6.0 <span class=\"_ _189\"> </span>67<span class=\"_ _8\"/>.4 <span class=\"_ _51\"> </span>43.6 <span class=\"_ _81\"> </span>7<span class=\"_ _8\"/>.6 <span class=\"_ _b1\"> </span>36.0 T<span class=\"_ _8\"/>otal <span class=\"_ _2b7\"> </span>73.4 <span class=\"_ _cb\"> </span>6.0 <span class=\"_ _189\"> </span>67<span class=\"_ _8\"/>.4 <span class=\"_ _51\"> </span><span class=\"fcb\">43.6 <span class=\"_ _81\"> </span>7<span class=\"_ _8\"/>.6 <span class=\"_ _b1\"> </span>36.0 </span>Non-current <span class=\"_ _2b8\"> </span>1<span class=\"_ _7\"/>5.1 <span class=\"_ _113\"> </span>1<span class=\"_ _9\"/>.7 <span class=\"_ _189\"> </span>1<span class=\"_ _7\"/>3.4 <span class=\"_ _45\"> </span>35.6 <span class=\"_ _130\"> </span>\u2013 <span class=\"_ _45\"> </span>35.6 Current <span class=\"_ _2b9\"> </span>58.3 <span class=\"_ _db\"> </span>4.3 <span class=\"_ _45\"> </span>54.0 <span class=\"_ _db\"> </span>8.0 <span class=\"_ _80\"> </span>7<span class=\"_ _8\"/>.6 <span class=\"_ _db\"> </span>0.4 T<span class=\"_ _8\"/>otal <span class=\"_ _2b7\"> </span>73.4 <span class=\"_ _cb\"> </span>6.0 <span class=\"_ _189\"> </span>67<span class=\"_ _8\"/>.4 <span class=\"_ _51\"> </span><span class=\"fcb\">43.6 <span class=\"_ _81\"> </span>7<span class=\"_ _8\"/>.6 <span class=\"_ _b1\"> </span>36.0 </span>The table below sho<span class=\"_ _7\"/>ws the mov<span class=\"_ _7\"/>ements in the Group\u2019<span class=\"_ _9\"/>s tot<span class=\"_ _5\"/>al derivativ<span class=\"_ _7\"/>e portfolio f<span class=\"_ _7\"/>or the year<span class=\"_ _9\"/>. In EUR millions <span class=\"_ _231\"> </span>Not<span class=\"_ _7\"/>e <span class=\"_ _bd\"> </span><span class=\"fs7 fc7\">Forwar<span class=\"_ _7\"/>ds <span class=\"_ _15a\"> </span>Sw<span class=\"_ _7\"/>aps <span class=\"_ _18a\"> </span><span class=\"fc0\">T<span class=\"_ _8\"/>otal </span></span>31 December 2021 <span class=\"_ _25b\"> </span>65.7 <span class=\"_ _190\"> </span>- 29.7 <span class=\"_ _51\"> </span><span class=\"fc0\">36.0 </span>Set<span class=\"_ _7\"/>tlement of derivativ<span class=\"_ _7\"/>es <span class=\"_ _137\"> </span><span class=\"ff3 fc13\">2.9 <span class=\"_ _3c\"> </span></span>36.0 <span class=\"_ _45\"> </span>- 4.6 <span class=\"_ _2f\"> </span>31<span class=\"_ _9\"/>.4 Ef<span class=\"_ _7\"/>fectiv<span class=\"_ _7\"/>e part of hedges of net inv<span class=\"_ _7\"/>estments to other comprehensive income <span class=\"_ _121\"> </span><span class=\"ff3 fc13\">5.2 <span class=\"_ _3f\"> </span></span>- 3.0 <span class=\"_ _130\"> </span>\u2013 <span class=\"_ _45\"> </span>- 3.0 Ef<span class=\"_ _7\"/>fectiv<span class=\"_ _7\"/>e part of cash flow hedges to other comprehensive Income <span class=\"_ _165\"> </span><span class=\"ff3 fc13\">5.2 <span class=\"_ _187\"> </span></span>\u2013 <span class=\"_ _189\"> </span>1<span class=\"_ _7\"/>5.3 <span class=\"_ _189\"> </span>1<span class=\"_ _7\"/>5.3 Fair v<span class=\"_ _7\"/>alue movement of derivativ<span class=\"_ _7\"/>es not in a hedge relationship <span class=\"_ _1b9\"> </span><span class=\"ff3 fc13\">5.6 <span class=\"_ _49\"> </span></span>- 1<span class=\"_ _7\"/>2.3 <span class=\"_ _130\"> </span>\u2013 <span class=\"_ _18a\"> </span>- 12.3 31 December 2022 <span class=\"_ _25b\"> </span>86.4 <span class=\"_ _190\"> </span>- 19.0 <span class=\"_ _45\"> </span><span class=\"fc0\">67<span class=\"_ _8\"/>.4 </span>F<span class=\"_ _7\"/>or an ov<span class=\"_ _7\"/>er<span class=\"_ _5\"/>view of the mo<span class=\"_ _7\"/>vements in the hedging reser<span class=\"_ _5\"/>v<span class=\"_ _7\"/>e in shareholders\u2019 equity<span class=\"_ _9\"/>, reference is made to note 5.2. Note 6.3 Cur<span class=\"_ _3\"/>r<span class=\"_ _7\"/>ency r<span class=\"_ _7\"/>isk The Group is e<span class=\"_ _7\"/>xposed to foreign currency e<span class=\"_ _3\"/>xc<span class=\"_ _7\"/>hange risks. <span class=\"_ _9\"/>T<span class=\"_ _7\"/>hese arise mainly from the US dollar (USD) and Singapore dollar (SGD). F<span class=\"_ _7\"/>oreign currency ex<span class=\"_ _3\"/>change risk arises from future commercial transactions, recogniz<span class=\"_ _7\"/>ed assets and liabilities and net inv<span class=\"_ _7\"/>estments in foreign operations. The primary objective of the currency risk management policy is to protect <span class=\"_ _9\"/>V<span class=\"_ _3\"/>opak against fluctuations in the v<span class=\"_ _7\"/>alue of the assets, liabilities and expected cash flo<span class=\"_ _7\"/>ws caused by c<span class=\"_ _3\"/>hanges in currency e<span class=\"_ _7\"/>xc<span class=\"_ _3\"/>hange rates. A<span class=\"_ _7\"/>ccount is t<span class=\"_ _5\"/>aken of fut<span class=\"_ _3\"/>ure cash flows from inv<span class=\"_ _7\"/>estments and disposals as well as cash flo<span class=\"_ _7\"/>ws from operating and financing activities. Eac<span class=\"_ _3\"/>h quarter<span class=\"_ _3\"/>, currency risks are identified and the hedging strategy is re<span class=\"_ _7\"/>viewed and subsequently presented to the Executiv<span class=\"_ _7\"/>e Board f<span class=\"_ _7\"/>or approv<span class=\"_ _7\"/>al. <span class=\"_ _9\"/>The main deriv<span class=\"_ _7\"/>ative financial instr<span class=\"_ _3\"/>uments used by the Group to hedge cur<span class=\"_ _7\"/>rency risks are for<span class=\"_ _5\"/>ward e<span class=\"_ _7\"/>xc<span class=\"_ _3\"/>hange contracts and cross-currency interest rate swaps (CCIR<span class=\"_ _7\"/>Ss). The table below pro<span class=\"_ _7\"/>vides an ov<span class=\"_ _7\"/>er<span class=\"_ _5\"/>view of the contract<span class=\"_ _7\"/>ual currencies of the interest-bearing loans and short-term borro<span class=\"_ _7\"/>wings (excluding transaction costs): Local cur<span class=\"_ _7\"/>rency <span class=\"_ _15f\"> </span>Euro In millions 2022 <span class=\"_ _1b2\"> </span><span class=\"fc7\">2021 <span class=\"_ _1b2\"> </span></span>2022 <span class=\"_ _1b2\"> </span><span class=\"fc7\">2021 </span>Euro (EUR) <span class=\"_ _ae\"> </span>726.7 <span class=\"_ _18a\"> </span>712.8 <span class=\"_ _e6\"> </span>726.7 <span class=\"_ _18a\"> </span>712.8 US dollar (USD) <span class=\"_ _15f\"> </span>1,385.3 <span class=\"_ _4d\"> </span>1,384.4 <span class=\"_ _4d\"> </span>1,299.4 <span class=\"_ _4d\"> </span>1,222.4 P<span class=\"_ _3\"/>ound sterling (GBP) <span class=\"_ _2ba\"> </span>35.0 <span class=\"_ _45\"> </span>35.0 <span class=\"_ _45\"> </span>39.6 <span class=\"_ _2f\"> </span>41<span class=\"_ _9\"/>.7 Canadian dollar (CAD) <span class=\"_ _2bb\"> </span>25.0 <span class=\"_ _45\"> </span>25.0 <span class=\"_ _3f\"> </span>1<span class=\"_ _3\"/>7<span class=\"_ _1\"/>.3 <span class=\"_ _3f\"> </span>1<span class=\"_ _7\"/>7<span class=\"_ _1\"/>.3 Singapore dollar (SGD) <span class=\"_ _ca\"> </span>200.0 <span class=\"_ _7e\"> </span>214.0 <span class=\"_ _18a\"> </span>1<span class=\"_ _3\"/>39.6 <span class=\"_ _7e\"> </span>139.8 Japanese y<span class=\"_ _7\"/>en (JPY) <span class=\"_ _ca\"> </span>20,000.0 <span class=\"_ _bc\"> </span>20,00<span class=\"_ _5\"/>0.0 <span class=\"_ _19c\"> </span>1<span class=\"_ _7\"/>41<span class=\"_ _9\"/>.0 <span class=\"_ _18a\"> </span>153.5 T<span class=\"_ _8\"/>otal <span class=\"_ _24e\"> </span><span class=\"fc0\">2,363.6 <span class=\"_ _15a\"> </span></span>2,287<span class=\"_ _8\"/>.5 Cur<span class=\"_ _7\"/>r<span class=\"_ _7\"/>ency r<span class=\"_ _7\"/>isk ar<span class=\"_ _7\"/>ising from oper<span class=\"_ _7\"/>ating activities The risks associated with commercial transaction positions arising from operating activities are limited for <span class=\"_ _9\"/>V<span class=\"_ _3\"/>opak, as operating income and operating expenses are, as a r<span class=\"_ _7\"/>ule, largely denominated in the same currency<span class=\"_ _9\"/>. Howe<span class=\"_ _7\"/>ver<span class=\"_ _9\"/>, in some countries (in particular<span class=\"_ _3\"/>, in Latin America), a substantial portion of the income flow is in US dollars whereas the operating expenses are largely denominated in local cur<span class=\"_ _7\"/>rencies. In these countries, the aim is to hedge the transaction risk naturally<span class=\"_ _9\"/>. An<span class=\"_ _7\"/>y material remaining net transaction position can be hedged in full by means of f<span class=\"_ _7\"/>or<span class=\"_ _5\"/>ward ex<span class=\"_ _7\"/>c<span class=\"_ _3\"/>hange contracts.  Intra-gr<span class=\"_ _3\"/>oup financing All intra-group long-term financing is provided b<span class=\"_ _7\"/>y <span class=\"_ _3\"/>V<span class=\"_ _3\"/>opak\u2019<span class=\"_ _9\"/>s Global <span class=\"_ _9\"/>T<span class=\"_ _8\"/>reasur<span class=\"_ _5\"/>y function which acts as an in-house bank. In principle, all intra-group financing is denominated in the functional currency of the local entity concerned. <span class=\"_ _9\"/>This set-up e<span class=\"_ _3\"/>xposes the <span class=\"_ _3\"/>V<span class=\"_ _3\"/>opak Group to foreign currency risk f<span class=\"_ _7\"/>or long-term intra-group positions whic<span class=\"_ _7\"/>h are not part of a net-inv<span class=\"_ _7\"/>estment. F<span class=\"_ _7\"/>ollowing the Group\u2019<span class=\"_ _9\"/>s currency risk management policy this currency risk is fully hedged b<span class=\"_ _3\"/>y means of derivativ<span class=\"_ _7\"/>es where possible. <span class=\"_ _9\"/>T<span class=\"_ _7\"/>he derivativ<span class=\"_ _7\"/>es used to hedge these positions are not included in a hedge relationship and as a result mov<span class=\"_ _7\"/>ements in the fair v<span class=\"_ _7\"/>alue of these derivativ<span class=\"_ _7\"/>es are directly recognized in the income statement. <span class=\"_ _9\"/>T<span class=\"_ _7\"/>he timing of these fair v<span class=\"_ _7\"/>alue mov<span class=\"_ _7\"/>ements coincides with the timing of the recognition of the foreign currency gains/losses on the intra-group loans and receivables denominated in a cur<span class=\"_ _7\"/>rency other than the Euro, whic<span class=\"_ _3\"/>h are eff<span class=\"_ _3\"/>ectively of<span class=\"_ _3\"/>fset. Cur<span class=\"_ _7\"/>r<span class=\"_ _7\"/>ency r<span class=\"_ _7\"/>isk ar<span class=\"_ _7\"/>ising from the in<span class=\"_ _7\"/>vestments in f<span class=\"_ _7\"/>or<span class=\"_ _7\"/>eign operations Net inv<span class=\"_ _7\"/>estment in foreign activities are hedged b<span class=\"_ _7\"/>y loans in the same currency and/or for<span class=\"_ _5\"/>ward ex<span class=\"_ _7\"/>c<span class=\"_ _3\"/>hange contracts, while applying net investment hedge accounting. <span class=\"_ _9\"/>T<span class=\"_ _7\"/>he amount of the hedge is determined mainly by limiting the maximum net e<span class=\"_ _7\"/>xposure per currency taking into account a maximum impact on the total net investment position. Cur<span class=\"_ _7\"/>r<span class=\"_ _7\"/>ency r<span class=\"_ _7\"/>isk ar<span class=\"_ _7\"/>ising from net-debt position Due to the Priv<span class=\"_ _7\"/>ate Placements and other net-debt items in foreign currency<span class=\"_ _9\"/>, the Group is exposed to cur<span class=\"_ _7\"/>rency risk. It is the Group\u2019<span class=\"_ _9\"/>s policy to hedge this exposure to leav<span class=\"_ _7\"/>e the Group with no material risks by making use of f<span class=\"_ _7\"/>oreign currency contracts, cross-currency sw<span class=\"_ _7\"/>aps and natural hedges (net in<span class=\"_ _7\"/>vestment hedges). <span class=\"_ _3\"/>All currency hedges for the years presented were highly ef<span class=\"_ _3\"/>f<span class=\"_ _7\"/>ective.  Cur<span class=\"_ _7\"/>r<span class=\"_ _7\"/>ency r<span class=\"_ _7\"/>isk ar<span class=\"_ _7\"/>ising from lease liabilities The Group is also e<span class=\"_ _7\"/>xposed to currency risk related to lease liabilities in the limited instances where the contract currency is dif<span class=\"_ _3\"/>ferent from the functional cur<span class=\"_ _7\"/>rency of the entit<span class=\"_ _5\"/>y concerned. This primarily concerns joint v<span class=\"_ _7\"/>entures and associates and not subsidiaries. <span class=\"_ _8\"/>These currency risks are normally not hedged.  The ef<span class=\"_ _3\"/>f<span class=\"_ _7\"/>ects of the foreign currency related hedging instr<span class=\"_ _7\"/>uments on the Group\u2019<span class=\"_ _9\"/>s financial position and financial results are shown in the table below: Car<span class=\"_ _7\"/>rying amount Ineff<span class=\"_ _3\"/>ectiveness Change in v<span class=\"_ _3\"/>alue of recogniz<span class=\"_ _7\"/>ed in 1 1 In EUR millions <span class=\"_ _2bc\"> </span><span class=\"fs7 fc7\">Matur<span class=\"_ _3\"/>ity <span class=\"_ _108\"> </span>Assets </span>Liabilities Notional amount <span class=\"_ _d0\"> </span>Hedg<span class=\"_ _7\"/>e ratio hedged it<span class=\"_ _7\"/>em income statement 31 December 2021 2 F<span class=\"_ _7\"/>or<span class=\"_ _5\"/>ward foreign currency contracts &lt; 1 year <span class=\"_ _121\"> </span>\u2013 <span class=\"_ _1be\"> </span>3.9 <span class=\"_ _86\"> </span>189.9 <span class=\"_ _1ce\"> </span>1<span class=\"_ _3\"/>0<span class=\"_ _5\"/>0% T<span class=\"_ _8\"/>otal net investment hedges \u2013 <span class=\"_ _f4\"> </span>3.9 <span class=\"_ _fa\"> </span>189.9 <span class=\"_ _fa\"> </span>1<span class=\"_ _3\"/>0<span class=\"_ _5\"/>0% <span class=\"_ _130\"> </span>- 15.0 <span class=\"_ _121\"> </span>\u2013 3 Cross-currency interest rate swaps 1<span class=\"_ _3\"/>-5 years <span class=\"_ _84\"> </span>35.1 <span class=\"_ _179\"> </span>\u2013 <span class=\"_ _6f\"> </span>458.6 <span class=\"_ _1ce\"> </span>1<span class=\"_ _7\"/>00% 3 Cross-currency interest rate swaps &gt; 5 years <span class=\"_ _178\"> </span>0.5 <span class=\"_ _179\"> </span>\u2013 <span class=\"_ _84\"> </span>66.6 <span class=\"_ _1ce\"> </span>1<span class=\"_ _3\"/>0<span class=\"_ _5\"/>0% T<span class=\"_ _8\"/>otal cash flow hedges 35.6 <span class=\"_ _121\"> </span>\u2013 <span class=\"_ _fa\"> </span>525.2 <span class=\"_ _fa\"> </span>1<span class=\"_ _3\"/>0<span class=\"_ _5\"/>0% <span class=\"_ _1a5\"> </span>- 1.2 <span class=\"_ _173\"> </span>0.4 F<span class=\"_ _7\"/>or<span class=\"_ _5\"/>ward foreign currency contracts <span class=\"_ _cd\"> </span>&lt; 1 year <span class=\"_ _1be\"> </span>8.0 <span class=\"_ _1be\"> </span>3.7 <span class=\"_ _86\"> </span>836.3 <span class=\"_ _17f\"> </span>n/a T<span class=\"_ _8\"/>otal deriv<span class=\"_ _7\"/>atives no hedg<span class=\"_ _7\"/>e accounting 8.0 <span class=\"_ _f4\"> </span>3.7 <span class=\"_ _fa\"> </span>836.3 <span class=\"_ _172\"> </span>n/a<span class=\"_ _178\"> </span>n/a<span class=\"_ _148\"> </span>n/aT<span class=\"_ _8\"/>otal deriv<span class=\"_ _3\"/>ative financial instr<span class=\"_ _7\"/>uments <span class=\"_ _16f\"> </span>43.6 <span class=\"_ _198\"> </span>7<span class=\"_ _1\"/>.6 <span class=\"_ _113\"> </span>1,551.4 <span class=\"_ _130\"> </span>1<span class=\"_ _7\"/>0<span class=\"_ _5\"/>0% <span class=\"_ _130\"> </span>- 16.2 <span class=\"_ _f4\"> </span>0.4 31 December 2022 2 F<span class=\"_ _7\"/>or<span class=\"_ _5\"/>ward foreign currency contracts &lt; 1 year <span class=\"_ _198\"> </span>1<span class=\"_ _9\"/>.0 <span class=\"_ _121\"> </span>\u2013 <span class=\"_ _187\"> </span>130.3 <span class=\"_ _29b\"> </span>1<span class=\"_ _3\"/>0<span class=\"_ _5\"/>0% T<span class=\"_ _8\"/>otal net investment hedges 1<span class=\"_ _7\"/>.0 <span class=\"_ _121\"> </span>\u2013 <span class=\"_ _fa\"> </span>130.3 <span class=\"_ _fa\"> </span>1<span class=\"_ _3\"/>0<span class=\"_ _5\"/>0% <span class=\"_ _197\"> </span>- 3.0 <span class=\"_ _121\"> </span>\u2013 3 Cross-currency interest rate swaps &lt; 1 year <span class=\"_ _3d\"> </span>45.5 <span class=\"_ _179\"> </span>\u2013 <span class=\"_ _86\"> </span>246.1 <span class=\"_ _1ce\"> </span>1<span class=\"_ _3\"/>00% 3 Cross-currency interest rate swaps 1<span class=\"_ _3\"/>-5 years <span class=\"_ _178\"> </span>8.5 <span class=\"_ _137\"> </span>1<span class=\"_ _9\"/>.7 <span class=\"_ _86\"> </span>212.5<span class=\"_ _b6\"> </span>1<span class=\"_ _3\"/>00% 3 Cross-currency interest rate swaps &gt; 5 years <span class=\"_ _178\"> </span>6.6 <span class=\"_ _179\"> </span>\u2013 <span class=\"_ _84\"> </span>66.6 <span class=\"_ _1ce\"> </span>1<span class=\"_ _3\"/>0<span class=\"_ _5\"/>0% T<span class=\"_ _8\"/>otal cash flow hedges 60.6 <span class=\"_ _148\"> </span>1<span class=\"_ _7\"/>.7 <span class=\"_ _fa\"> </span>525.2<span class=\"_ _1ad\"> </span>1<span class=\"_ _3\"/>0<span class=\"_ _5\"/>0% <span class=\"_ _f6\"> </span>15.3 <span class=\"_ _121\"> </span>\u2013 F<span class=\"_ _7\"/>or<span class=\"_ _5\"/>ward foreign currency contracts <span class=\"_ _cd\"> </span>&lt; 1 year <span class=\"_ _162\"> </span>1<span class=\"_ _9\"/>1<span class=\"_ _9\"/>.8 <span class=\"_ _1be\"> </span>4.3 <span class=\"_ _86\"> </span>708.1 <span class=\"_ _17f\"> </span>n/a T<span class=\"_ _8\"/>otal deriv<span class=\"_ _7\"/>atives no hedg<span class=\"_ _7\"/>e accounting 1<span class=\"_ _9\"/>1.8 <span class=\"_ _173\"> </span>4.3 <span class=\"_ _29b\"> </span>708.1 <span class=\"_ _172\"> </span>n/a<span class=\"_ _178\"> </span>n/a<span class=\"_ _148\"> </span>n/a4 T<span class=\"_ _8\"/>otal deriv<span class=\"_ _3\"/>ative financial instr<span class=\"_ _7\"/>uments 73.4 <span class=\"_ _f4\"> </span>6.0 <span class=\"_ _81\"> </span>1,363.6<span class=\"_ _1ad\"> </span>1<span class=\"_ _3\"/>0<span class=\"_ _5\"/>0% <span class=\"_ _1a5\"> </span>12.3 <span class=\"_ _121\"> </span>\u2013 1 <span class=\"_ _b3\"> </span>At fair v<span class=\"_ _7\"/>alue. 2 <span class=\"_ _b3\"> </span>F<span class=\"_ _7\"/>oreign currency for<span class=\"_ _5\"/>wards accounted f<span class=\"_ _7\"/>or as hedges on net investments. 3 <span class=\"_ _b3\"> </span>Cross currency interest swaps accounted f<span class=\"_ _7\"/>or as cash flow hedges are used to hedge currency (2022: USD 468 million and JPY 20 billion; 2021: USD 468 million and JPY 20 billion) on fix<span class=\"_ _7\"/>ed debt denominated in foreign currency<span class=\"_ _3\"/>. 4 <span class=\"_ _b3\"> </span>This is the inef<span class=\"_ _3\"/>fectiveness resulting from the FX as w<span class=\"_ _7\"/>ell as the interest part of the hedge. Of the total amount of interest-bearing debt denominated in a foreign currency per y<span class=\"_ _7\"/>ear<span class=\"_ _9\"/>-end 2022, 1<span class=\"_ _3\"/>00% (2021: 1<span class=\"_ _3\"/>0<span class=\"_ _5\"/>0%) was hedged via deriv<span class=\"_ _7\"/>atives f<span class=\"_ _7\"/>or whic<span class=\"_ _7\"/>h either cash flow hedge accounting, net investment hedge accounting or no hedge accounting w<span class=\"_ _7\"/>as applied.   At year<span class=\"_ _9\"/>-end 2022, 36% (2021: 36%) of the currency risk w<span class=\"_ _3\"/>as hedged via cash flow hedges. The total nominal amount of net inv<span class=\"_ _7\"/>estments (hedged items) included in a net inv<span class=\"_ _7\"/>estment hedge relationship amounted to EUR 792.9 million as at year<span class=\"_ _9\"/>-end 2022 (2021: EUR 889.5 million). Of this amount EUR 663.6 million (2021: EUR 695.3 million) was hedged via f<span class=\"_ _7\"/>oreign currency interest-bearing debt and EUR 1<span class=\"_ _3\"/>29.3 million (2021: EUR 1<span class=\"_ _3\"/>94.2 million) via derivatives. <span class=\"_ _7\"/>Also taking into account the investment in entities, in whic<span class=\"_ _3\"/>h functional currency is EUR, the tot<span class=\"_ _5\"/>al unhedged position amounted to EUR 1,821<span class=\"_ _8\"/>.7 million or 61% (2021: EUR 1,484.7 million or 47%). Ref<span class=\"_ _3\"/>erence is made to note 6.2 for a reconciliation between the amounts presented in the table above and the amounts recogniz<span class=\"_ _7\"/>ed in the Consolidated Statement of Financial P<span class=\"_ _7\"/>osition. F<span class=\"_ _7\"/>or all cash flow hedges related to currency and interest rate risk, a loss of  EUR 32.2 million, net of tax was recognized in equity via OCI up to 31 December 2022 (2021: EUR 94.9 million (loss)) (see note 5.2). Cur<span class=\"_ _7\"/>r<span class=\"_ _7\"/>ency translation r<span class=\"_ _3\"/>isk F<span class=\"_ _3\"/>urthermore, a foreign currency translation risk results from in<span class=\"_ _7\"/>vestments in f<span class=\"_ _7\"/>oreign operations of whic<span class=\"_ _3\"/>h the net assets are exposed to foreign currency translation risk. <span class=\"_ _8\"/>The Group result is also impacted by translating the results of these f<span class=\"_ _7\"/>oreign currency operations. This non-economic cur<span class=\"_ _7\"/>rency risk is caused by the accounting conv<span class=\"_ _3\"/>entions applied for translating the net assets and results of foreign operations to the presentation currency of the Group, whic<span class=\"_ _3\"/>h is the euro. For more inf<span class=\"_ _7\"/>ormation, ref<span class=\"_ _7\"/>erence is made to note 2.8. Sensitivity of exc<span class=\"_ _7\"/>hange r<span class=\"_ _7\"/>ate c<span class=\"_ _7\"/>hanges of financial instr<span class=\"_ _3\"/>uments on net profit and equity The v<span class=\"_ _7\"/>alue of debt and hedging instruments denominated in cur<span class=\"_ _7\"/>rencies other than the functional currency of the entities holding them is subject to e<span class=\"_ _7\"/>xc<span class=\"_ _3\"/>hange rate movements. <span class=\"_ _8\"/>The sensitivity analysis for the main cur<span class=\"_ _7\"/>rencies and their positions at 31 December 2022 and 31 December 2021 shows ho<span class=\"_ _7\"/>w c<span class=\"_ _3\"/>hanges in exc<span class=\"_ _3\"/>hange rates by 1<span class=\"_ _9\"/>0% aff<span class=\"_ _3\"/>ect net profit and equity<span class=\"_ _3\"/>, while t<span class=\"_ _5\"/>aking into account the ef<span class=\"_ _3\"/>fect of the use of deriv<span class=\"_ _7\"/>atives and the hedge accounting applied. 1 1 Depreciation Appreciation In EUR millions <span class=\"_ _91\"> </span>Net profit <span class=\"_ _228\"> </span>Equity <span class=\"_ _76\"> </span><span class=\"fc7\">Net profit <span class=\"_ _228\"> </span>Equity </span>31 December 2021 USD <span class=\"_ _1a1\"> </span>- 1<span class=\"_ _8\"/>.2 <span class=\"_ _18a\"> </span>- 32.7 <span class=\"_ _113\"> </span>1<span class=\"_ _9\"/>.5 <span class=\"_ _45\"> </span>40.0 SGD <span class=\"_ _23e\"> </span>- 0.5 <span class=\"_ _18a\"> </span>- 30.7 <span class=\"_ _1bc\"> </span>0.7 <span class=\"_ _108\"> </span>37<span class=\"_ _1\"/>.5 CNY <span class=\"_ _23d\"> </span>- 1<span class=\"_ _9\"/>.3 <span class=\"_ _e6\"> </span>- 30.4 <span class=\"_ _8b\"> </span>1<span class=\"_ _9\"/>.5 <span class=\"_ _88\"> </span>37<span class=\"_ _1\"/>.1 BRL <span class=\"_ _1a1\"> </span>- 0.2 <span class=\"_ _108\"> </span>- 7<span class=\"_ _1\"/>.9 <span class=\"_ _db\"> </span>0.3 <span class=\"_ _db\"> </span>9.6 JPY <span class=\"_ _9e\"> </span>\u2013 <span class=\"_ _2f\"> </span>- 1<span class=\"_ _9\"/>.0 <span class=\"_ _130\"> </span>\u2013 <span class=\"_ _113\"> </span>1<span class=\"_ _9\"/>.3 T<span class=\"_ _8\"/>otal eff<span class=\"_ _7\"/>ect <span class=\"_ _cd\"> </span><span class=\"fc0\">- 3.2 <span class=\"_ _228\"> </span>- 102.7 <span class=\"_ _41\"> </span></span>4.0 <span class=\"_ _53\"> </span>125.5 31 December 2022 USD <span class=\"_ _23e\"> </span>- 2.3 <span class=\"_ _18a\"> </span>- 38.8 <span class=\"_ _1bc\"> </span>2.8 <span class=\"_ _108\"> </span>47<span class=\"_ _1\"/>.5 SGD <span class=\"_ _2bd\"> </span>1<span class=\"_ _9\"/>.5 <span class=\"_ _e6\"> </span>- 38.6 <span class=\"_ _2f\"> </span>- 1<span class=\"_ _9\"/>.8 <span class=\"_ _88\"> </span>47<span class=\"_ _8\"/>.2 CNY <span class=\"_ _23d\"> </span>- 1<span class=\"_ _9\"/>.0 <span class=\"_ _e6\"> </span>- 28.2 <span class=\"_ _8b\"> </span>1<span class=\"_ _9\"/>.3 <span class=\"_ _45\"> </span>34.4 BRL <span class=\"_ _1a1\"> </span>- 0.1 <span class=\"_ _45\"> </span>- 9.4 <span class=\"_ _db\"> </span>0.1 <span class=\"_ _3f\"> </span>1<span class=\"_ _9\"/>1<span class=\"_ _9\"/>.5 JPY <span class=\"_ _9e\"> </span>\u2013 <span class=\"_ _45\"> </span>- 0.5 <span class=\"_ _130\"> </span>\u2013 <span class=\"_ _db\"> </span>0.6 T<span class=\"_ _8\"/>otal eff<span class=\"_ _7\"/>ect <span class=\"_ _145\"> </span>- 1<span class=\"_ _7\"/>.9 <span class=\"_ _e1\"> </span>- 1<span class=\"_ _3\"/>15.5 <span class=\"_ _cb\"> </span><span class=\"fcb\">2.4 <span class=\"_ _131\"> </span>141<span class=\"_ _7\"/>.2 </span>1 <span class=\"_ _b3\"> </span>F<span class=\"_ _7\"/>oreign currency against the euro. Note 6.4 Int<span class=\"_ _3\"/>erest r<span class=\"_ _7\"/>ate r<span class=\"_ _3\"/>isk V<span class=\"_ _3\"/>opak\u2019<span class=\"_ _9\"/>s policy on interest rate risks aims to control the interest expenses resulting from fluctuations in the financial mark<span class=\"_ _7\"/>et interest rates, to protect the projected gross result of V<span class=\"_ _3\"/>opak and taking into account the long-term profile of the company<span class=\"_ _9\"/>. Fixed-rate debt exposes the Group to fair v<span class=\"_ _7\"/>alue risk. Floating-rate debt exposes the Group to cash flo<span class=\"_ _7\"/>w risk. <span class=\"_ _9\"/>T<span class=\"_ _7\"/>he specification of the total interest-bearing loans is disclosed in note 5.5. It is <span class=\"_ _3\"/>V<span class=\"_ _3\"/>opak\u2019<span class=\"_ _9\"/>s long-termpolicy to manage its interest exposure to an acceptable lev<span class=\"_ _7\"/>el of fixed/floating to optimiz<span class=\"_ _7\"/>e net finance expenses and reduce v<span class=\"_ _7\"/>olatility on the net result within the bandwidth of the interest related financial cov<span class=\"_ _7\"/>enants.  Interest rate swaps ma<span class=\"_ _7\"/>y be used in order to minimize the interest rate risks associated with the financing of the Group and at the same time optimize the net interest costs. Interest raterisks are identified and possible hedges considered when obtaining or providing new financing.  There w<span class=\"_ _7\"/>ere no interest rate derivativ<span class=\"_ _7\"/>es present in the years presented. As at 31 December 2022, taking into account the interest rate swaps, 70% (2021: 69%) of the total interest-bearing loans and bank loans of EUR 2,358.5 million (2021: EUR 2,284.6 million) was financed at a fix<span class=\"_ _7\"/>ed interest rate with remaining terms of up to 1<span class=\"_ _7\"/>8 years (2021: 1<span class=\"_ _3\"/>8 years). The a<span class=\"_ _7\"/>verage fix<span class=\"_ _7\"/>ed interest and the av<span class=\"_ _7\"/>erage floating interest on the interest-bearing loans and bank loans at 31 December 2022 were 3.9% (2021: 3.8%) and 3.1% (2021: 1<span class=\"_ _1\"/>.3%) respectively<span class=\"_ _9\"/>. <span class=\"_ _9\"/>The f<span class=\"_ _3\"/>ollowing statement provides insight into the interest repricing calendar for the interest-bearing loans and the bank loans at the statement of the financial position date, while taking into account the eff<span class=\"_ _3\"/>ects of the derivativ<span class=\"_ _7\"/>es that may be present and the hedge accounting applied. All interest-bearing loans with a floating interest rate are re-priced within one year<span class=\"_ _9\"/>. 31 December 2022 <span class=\"_ _182\"> </span>31 December 2021 In EUR millions <span class=\"_ _11f\"> </span>Floating <span class=\"_ _1a2\"> </span>Fixed <span class=\"_ _ad\"> </span>T<span class=\"_ _9\"/>otal <span class=\"_ _10b\"> </span><span class=\"fc7\">Floating <span class=\"_ _11\"> </span>Fixed <span class=\"_ _ad\"> </span>T<span class=\"_ _9\"/>otal </span>&lt; 1 year <span class=\"_ _134\"> </span>- 416.5 <span class=\"_ _1a\"> </span>- 279.3 <span class=\"_ _9d\"> </span>- 695.8 <span class=\"_ _1a\"> </span>- 462.0 <span class=\"_ _bd\"> </span>- 0.3 <span class=\"_ _1a\"> </span>- 462.3 1<span class=\"_ _3\"/>-2 years <span class=\"_ _28a\"> </span>\u2013 <span class=\"_ _16\"> </span>- 21<span class=\"_ _9\"/>1<span class=\"_ _9\"/>.9 <span class=\"_ _b2\"> </span>- 21<span class=\"_ _9\"/>1<span class=\"_ _9\"/>.9 <span class=\"_ _9d\"> </span>- 239.8 <span class=\"_ _1a\"> </span>- 265.2 <span class=\"_ _9d\"> </span>- 505.0 2-3 years <span class=\"_ _ae\"> </span>\u2013 <span class=\"_ _9d\"> </span>- 272.3 <span class=\"_ _9d\"> </span>- 272.3 <span class=\"_ _4d\"> </span>\u2013 <span class=\"_ _9d\"> </span>- 203.3 <span class=\"_ _1a\"> </span>- 203.3 3-4 years <span class=\"_ _ae\"> </span>\u2013 <span class=\"_ _22c\"> </span>- 69.5 <span class=\"_ _ad\"> </span>- 69.5 <span class=\"_ _228\"> </span>\u2013 <span class=\"_ _9d\"> </span>- 256.9 <span class=\"_ _1a\"> </span>- 256.9 4-5 years <span class=\"_ _ae\"> </span>\u2013 <span class=\"_ _b2\"> </span>- 557<span class=\"_ _1\"/>.8 <span class=\"_ _b2\"> </span>- 557<span class=\"_ _d\"/>.8 <span class=\"_ _228\"> </span>\u2013 <span class=\"_ _22c\"> </span>- 66.0 <span class=\"_ _ad\"> </span>- 66.0 &gt; 5 years <span class=\"_ _19d\"> </span>\u2013 <span class=\"_ _233\"> </span>- 551<span class=\"_ _9\"/>.2 <span class=\"_ _233\"> </span>- 551<span class=\"_ _9\"/>.2 <span class=\"_ _4d\"> </span>\u2013 <span class=\"_ _233\"> </span>- 791<span class=\"_ _9\"/>.1 <span class=\"_ _1b\"> </span>- 791<span class=\"_ _9\"/>.1 T<span class=\"_ _8\"/>otal <span class=\"_ _c8\"> </span><span class=\"fc0\">- 416.5 <span class=\"_ _12\"> </span>- 1,942.0 <span class=\"_ _13\"> </span>- 2,358.5 <span class=\"_ _120\"> </span></span>- 70<span class=\"_ _7\"/>1<span class=\"_ _7\"/>.8 <span class=\"_ _13\"> </span>- 1,582.8 <span class=\"_ _12\"> </span>- 2,284.6 Sensitivity to c<span class=\"_ _7\"/>hanges in mar<span class=\"_ _3\"/>k<span class=\"_ _7\"/>et inter<span class=\"_ _7\"/>est rat<span class=\"_ _7\"/>es  The sensitivity analysis sho<span class=\"_ _7\"/>ws how c<span class=\"_ _3\"/>hanges in market interest rates af<span class=\"_ _3\"/>fect net profit and equity<span class=\"_ _3\"/>, while t<span class=\"_ _5\"/>aking into account the ef<span class=\"_ _3\"/>fects of the deriv<span class=\"_ _7\"/>atives and the hedge accounting applied and assuming that all other variables remain constant. Due to the volatility of market interest rates, <span class=\"_ _3\"/>V<span class=\"_ _9\"/>opak has used a fixed percentage of 25% as a reasonable possible change at year<span class=\"_ _9\"/>-end 2022 and y<span class=\"_ _7\"/>ear<span class=\"_ _9\"/>-end 2021<span class=\"_ _8\"/>. Increase 25% <span class=\"_ _d9\"> </span>Decrease 25% Closing level 1 1 In EUR millions 3-month <span class=\"_ _1e\"> </span><span class=\"fc0\">Net profit <span class=\"_ _fd\"> </span>Equity </span>Net profit <span class=\"_ _fd\"> </span>Equity 31 December 2021 EUR <span class=\"_ _68\"> </span>-0.57% <span class=\"_ _20\"> </span>- 1<span class=\"_ _9\"/>.4 <span class=\"_ _d9\"> </span>1<span class=\"_ _9\"/>.0 <span class=\"_ _bd\"> </span>- 0.4 <span class=\"_ _c2\"> </span>- 1<span class=\"_ _8\"/>.0 USD <span class=\"_ _9e\"> </span>0.21% <span class=\"_ _228\"> </span>\u2013 <span class=\"_ _c9\"> </span>2.3 <span class=\"_ _228\"> </span>\u2013 <span class=\"_ _bd\"> </span>- 2.4 SGD <span class=\"_ _9e\"> </span>0.36% <span class=\"_ _bd\"> </span>- 0.5 <span class=\"_ _c9\"> </span>0.1 <span class=\"_ _c9\"> </span>0.5 <span class=\"_ _bd\"> </span>- 0.1 JPY <span class=\"_ _1e2\"> </span>-0.08% <span class=\"_ _228\"> </span>\u2013 <span class=\"_ _4d\"> </span>\u2013 <span class=\"_ _228\"> </span>\u2013 <span class=\"_ _228\"> </span>\u2013 T<span class=\"_ _8\"/>otal eff<span class=\"_ _7\"/>ect <span class=\"_ _1c5\"> </span>- 1<span class=\"_ _7\"/>.9 <span class=\"_ _ea\"> </span>3.4 <span class=\"_ _ea\"> </span><span class=\"fcb\">0.1 <span class=\"_ _76\"> </span>- 3.5 </span>31 December 2022 EUR <span class=\"_ _1c8\"> </span>2.13% <span class=\"_ _f7\"> </span>- 7<span class=\"_ _1\"/>.6 <span class=\"_ _fb\"> </span>1<span class=\"_ _9\"/>1<span class=\"_ _9\"/>.2 <span class=\"_ _95\"> </span>7<span class=\"_ _1\"/>.6 <span class=\"_ _3a\"> </span>- 1<span class=\"_ _9\"/>1<span class=\"_ _9\"/>.6 USD <span class=\"_ _9e\"> </span>4.77% <span class=\"_ _95\"> </span>1<span class=\"_ _8\"/>.4 <span class=\"_ _c9\"> </span>3.4 <span class=\"_ _c2\"> </span>- 1<span class=\"_ _9\"/>.4 <span class=\"_ _bd\"> </span>- 3.7 SGD <span class=\"_ _9e\"> </span>4.21% <span class=\"_ _c2\"> </span>- 1<span class=\"_ _9\"/>.8 <span class=\"_ _c9\"> </span>0.1 <span class=\"_ _d9\"> </span>1<span class=\"_ _9\"/>.8 <span class=\"_ _bd\"> </span>- 0.1 JPY <span class=\"_ _1e2\"> </span>-0.03% <span class=\"_ _228\"> </span>\u2013 <span class=\"_ _bd\"> </span>- 0.1 <span class=\"_ _4d\"> </span>\u2013 <span class=\"_ _c9\"> </span>0.1 T<span class=\"_ _8\"/>otal eff<span class=\"_ _7\"/>ect <span class=\"_ _114\"> </span><span class=\"fc0\">- 8.0 <span class=\"_ _ce\"> </span>14.6 <span class=\"_ _ea\"> </span></span>8.0 <span class=\"_ _11\"> </span>- 15.3 1 <span class=\"_ _b3\"> </span>Re<span class=\"_ _7\"/>valuation reser<span class=\"_ _5\"/>ve deriv<span class=\"_ _7\"/>atives through Other comprehensiv<span class=\"_ _7\"/>e income. Note 6.5 Equity secur<span class=\"_ _3\"/>ities pr<span class=\"_ _3\"/>ice risk A<span class=\"_ _1e\"> </span><span class=\"ff3 fs9\">Accounting policies </span>Equity investments that are not classified as a subsidiary<span class=\"_ _3\"/>, joint venture or associate are measured at fair v<span class=\"_ _7\"/>alue (lev<span class=\"_ _7\"/>el 3). Gains and losses on these inv<span class=\"_ _7\"/>estments will either be recorded in the Income statement or Other comprehensive income, depending on whether the Group has made an irre<span class=\"_ _7\"/>vocable election at the time of initial recognition to account for the equity investment at f<span class=\"_ _7\"/>air value through other comprehensiv<span class=\"_ _7\"/>e income. <span class=\"_ _9\"/>T<span class=\"_ _7\"/>he fair value is based on the discounted cash flow approac<span class=\"_ _3\"/>h or recent market transaction. Where the Group has elected to present fair v<span class=\"_ _7\"/>alue gains and losses on equity investments in OCI, there is no subsequent reclassification of fair v<span class=\"_ _7\"/>alue gains and losses to the income statement following the div<span class=\"_ _7\"/>estment of equity investment. Dividends from equity inv<span class=\"_ _7\"/>estments are recognized in the income statement as dividend income, whic<span class=\"_ _3\"/>h is classified as Other income, when the Group\u2019<span class=\"_ _9\"/>s right to receive pa<span class=\"_ _7\"/>yments is est<span class=\"_ _5\"/>ablished. The Group has 1<span class=\"_ _3\"/>9 equity investments (2021: 1<span class=\"_ _3\"/>5) for a total amount of EUR 94.0 million at year<span class=\"_ _9\"/>-end 2022 (2021: EUR 83.6 million), of whic<span class=\"_ _3\"/>h the inv<span class=\"_ _7\"/>estment in SabT<span class=\"_ _9\"/>ank (Saudi Arabia) and Hydrogenious are the largest. Our 1<span class=\"_ _9\"/>0<span class=\"_ _5\"/>0% in<span class=\"_ _7\"/>vestment in <span class=\"_ _9\"/>V<span class=\"_ _3\"/>enezuela is also classified as an equity investment. <span class=\"_ _8\"/>The other equity inv<span class=\"_ _7\"/>estments are investments held b<span class=\"_ _3\"/>y <span class=\"_ _3\"/>V<span class=\"_ _3\"/>opak <span class=\"_ _3\"/>V<span class=\"_ _3\"/>entures B<span class=\"_ _7\"/>.V<span class=\"_ _8\"/>.The Group elected to measure all in<span class=\"_ _7\"/>vestments at f<span class=\"_ _7\"/>air value through other comprehensiv<span class=\"_ _7\"/>e income as these entities are part of the <span class=\"_ _3\"/>V<span class=\"_ _9\"/>opak net<span class=\"_ _5\"/>work, pro<span class=\"_ _7\"/>vide storage and handling (relatedser<span class=\"_ _5\"/>vices) and are not held for trading. Deconsolidation <span class=\"_ _21\"/>of V<span class=\"_ _3\"/>opak V<span class=\"_ _9\"/>enezuela In 20<span class=\"_ _3\"/>1<span class=\"_ _7\"/>8, <span class=\"_ _3\"/>V<span class=\"_ _3\"/>opak deconsolidated its wholly-o<span class=\"_ _7\"/>wned terminal in <span class=\"_ _3\"/>V<span class=\"_ _3\"/>enezuela, reflecting the conclusion that the Group no longer had control from an accounting perspective. It w<span class=\"_ _7\"/>as obser<span class=\"_ _5\"/>ved that the economic, legal, social and political en<span class=\"_ _7\"/>vironment in whic<span class=\"_ _3\"/>h the terminal operates was continuously deteriorating. Strict currency controls continued to be applicable and inflation ex<span class=\"_ _7\"/>ceeded one million percent in 20<span class=\"_ _3\"/>1<span class=\"_ _7\"/>8.     V<span class=\"_ _3\"/>opak continues to monitor the situation and will periodically assess whether f<span class=\"_ _3\"/>acts and circumstances have c<span class=\"_ _3\"/>hanged and whether control has been regained ov<span class=\"_ _7\"/>er the entity in V<span class=\"_ _3\"/>enezuela. <span class=\"_ _9\"/>V<span class=\"_ _3\"/>opak remains the 1<span class=\"_ _3\"/>0<span class=\"_ _5\"/>0% shareholder in the entity and continues to operate the company in line with <span class=\"_ _9\"/>V<span class=\"_ _3\"/>opak\u2019<span class=\"_ _9\"/>s st<span class=\"_ _5\"/>andards. F<span class=\"_ _7\"/>or more information on the equity inv<span class=\"_ _7\"/>estments, other than inv<span class=\"_ _7\"/>estments in subsidiaries, joint vent<span class=\"_ _7\"/>ures and associates, ref<span class=\"_ _7\"/>erence is made to note 9.6. Note 6.6 Cr<span class=\"_ _3\"/>edit r<span class=\"_ _7\"/>isk Credit risk arises when a customer or other counterparty of a financial instrument fails to disc<span class=\"_ _3\"/>harge its contractual obligation. V<span class=\"_ _3\"/>opak\u2019<span class=\"_ _9\"/>s credit risk arises primarily from loans granted, finance lease receivables, trade and other receivables, cash and cash equiv<span class=\"_ _7\"/>alents, and derivativ<span class=\"_ _7\"/>e financial instruments. <span class=\"_ _9\"/>V<span class=\"_ _3\"/>opak\u2019<span class=\"_ _9\"/>s maximum exposure to credit risks is the car<span class=\"_ _7\"/>r<span class=\"_ _5\"/>ying amount of these financial assets, amounting to EUR 603.3 million (2021: EUR 553.4 million), and the credit replacing guarantees amounting to EUR 89.4 million (2021: EUR 85.8 million). Of this amount, nil was recognized in the statement of financial position at year<span class=\"_ _9\"/>-end 2022 (2021: nil). F<span class=\"_ _3\"/>urthermore, the macro-economic and geopolitical uncertaint<span class=\"_ _5\"/>y had no material ef<span class=\"_ _7\"/>f<span class=\"_ _7\"/>ect on the credit risk exposure of the financial instr<span class=\"_ _7\"/>uments in an asset position. No loans were granted to joint v<span class=\"_ _7\"/>entures and associates at y<span class=\"_ _7\"/>ear<span class=\"_ _9\"/>-end 2022. Loans to other third parties are generally secured, and mainly relate to loans to non-controlling shareholders.  F<span class=\"_ _7\"/>or more information on the credit risk of the trade receiv<span class=\"_ _7\"/>ables, ref<span class=\"_ _7\"/>erence is made to note 4.2. Risk management The credit risk with regard to trade receiv<span class=\"_ _7\"/>ables and lease receivables from customers is limited as the value of the product stored f<span class=\"_ _7\"/>or these clients usually ex<span class=\"_ _7\"/>ceeds the value of the receivables and <span class=\"_ _9\"/>V<span class=\"_ _3\"/>opak generally has the right of retention although other claims may ha<span class=\"_ _7\"/>ve priority ranking over the right of retention in a bankr<span class=\"_ _7\"/>uptcy case. <span class=\"_ _9\"/>V<span class=\"_ _3\"/>opak const<span class=\"_ _5\"/>antly monitors the outstanding receivables and the value of the stored products. See note 4.2 f<span class=\"_ _7\"/>or further details. V<span class=\"_ _3\"/>opak has spread its cash and cash equivalents and other liquidity inv<span class=\"_ _7\"/>estments across a select group of high rated financial institutions while daily limiting the cash and cash equivalents within the Group and assessing the e<span class=\"_ _7\"/>xposure to eac<span class=\"_ _3\"/>h financial institution. <span class=\"_ _3\"/>V<span class=\"_ _3\"/>opak applies credit limits per institution, depending on their credit ratings and credit def<span class=\"_ _7\"/>ault swap spread, and regularly revie<span class=\"_ _7\"/>ws these limits. <span class=\"_ _9\"/>T<span class=\"_ _7\"/>hese treasur<span class=\"_ _5\"/>y activities are concluded with financial institutions that ha<span class=\"_ _7\"/>ve at least an <span class=\"_ _3\"/>A- St<span class=\"_ _5\"/>andard &amp; P<span class=\"_ _3\"/>oor<span class=\"_ _5\"/>\u2019<span class=\"_ _9\"/>s credit rating<span class=\"_ _5\"/>. At 31 December 2022, the maximum risk in the ev<span class=\"_ _7\"/>ent of the default of a single financial institution amounted to EUR 1<span class=\"_ _3\"/>9.5 million (2021: EUR 20.7 million). The deriv<span class=\"_ _7\"/>ative financial instr<span class=\"_ _7\"/>uments will be set<span class=\"_ _3\"/>tled on a gross basis. <span class=\"_ _9\"/>The credit risk of derivativ<span class=\"_ _7\"/>e financial instruments with a positiv<span class=\"_ _7\"/>e value is mitigated b<span class=\"_ _7\"/>y ISD<span class=\"_ _3\"/>A Master Agreements with counterparties, whic<span class=\"_ _3\"/>h hav<span class=\"_ _7\"/>e the option to set<span class=\"_ _7\"/>tle all gross amounts on a net basis in the ev<span class=\"_ _7\"/>ent of a default of the counterparty<span class=\"_ _3\"/>, and by set<span class=\"_ _3\"/>ting qualitative and financial limits for the deriv<span class=\"_ _7\"/>ative counterparties. <span class=\"_ _8\"/>The Group maintains a control system that includes the authorization, reporting and monitoring of derivativ<span class=\"_ _7\"/>e activities including the Credit Default Sw<span class=\"_ _7\"/>aps dev<span class=\"_ _7\"/>elopments of counterparties obser<span class=\"_ _5\"/>ved on the secondary market. <span class=\"_ _3\"/>V<span class=\"_ _3\"/>opak believ<span class=\"_ _7\"/>es there are no material credit risks related to derivativ<span class=\"_ _7\"/>es in the Group\u2019<span class=\"_ _9\"/>s financial position. At year<span class=\"_ _9\"/>-end 2022, the deriv<span class=\"_ _7\"/>atives with a counterparty credit risk amounted to EUR 2.0 million (2021: EUR 0.5 million). Assessing the financial positions of customers and other counterparties is part of the Group\u2019<span class=\"_ _9\"/>s credit risk management and tendering process; how<span class=\"_ _7\"/>ever<span class=\"_ _9\"/>, this cannot ex<span class=\"_ _7\"/>clude all credit risk. Note 6.7 Liquidity r<span class=\"_ _3\"/>isk The primary objective of liquidity management is providing suf<span class=\"_ _7\"/>ficient cash and cash equivalents at all times to enable <span class=\"_ _9\"/>V<span class=\"_ _3\"/>opak to meet its payment obligations. Cash management The liquidity requirements are monitored continuously and funding is planned in suc<span class=\"_ _3\"/>h a way as to av<span class=\"_ _7\"/>oid ex<span class=\"_ _7\"/>cessive short-term financing needs. <span class=\"_ _8\"/>The long-term liquidity risk is assessed prior to ev<span class=\"_ _7\"/>er<span class=\"_ _5\"/>y major inv<span class=\"_ _7\"/>estment obligation. A<span class=\"_ _7\"/>ctive cash management is a daily responsibility and the liquidity requirements are identified eac<span class=\"_ _7\"/>h quarter based on thorough scenario planning. Surplus cash is invested, if a<span class=\"_ _7\"/>vailable, in interest-bearing current accounts and deposit accounts. V<span class=\"_ _3\"/>opak\u2019<span class=\"_ _9\"/>s Global <span class=\"_ _9\"/>T<span class=\"_ _8\"/>reasur<span class=\"_ _5\"/>y function acts as an in-house bank that allocates funds internally<span class=\"_ _3\"/>, whic<span class=\"_ _3\"/>h are raised centrally within the Group. Surplus cash held by the operating entities ov<span class=\"_ _7\"/>er and abov<span class=\"_ _7\"/>e balances required for w<span class=\"_ _7\"/>orking capital management is transferred to Global T<span class=\"_ _9\"/>reasur<span class=\"_ _5\"/>y and operating companies are normally funded b<span class=\"_ _7\"/>y a combination of equit<span class=\"_ _5\"/>y and inter<span class=\"_ _9\"/>-company loans. Ex<span class=\"_ _7\"/>ceptions to this are the bank loan of EUR 1<span class=\"_ _7\"/>39.6 million (SGD 200.0 million), drawdo<span class=\"_ _7\"/>wns under the rev<span class=\"_ _7\"/>olving credit facilities of <span class=\"_ _9\"/>V<span class=\"_ _3\"/>opak <span class=\"_ _9\"/>T<span class=\"_ _9\"/>erminals Singapore Pte. Ltd., whic<span class=\"_ _3\"/>h have been raised locally<span class=\"_ _9\"/>. Joint v<span class=\"_ _7\"/>entures and associates, where possible, are normally funded optimally with e<span class=\"_ _7\"/>xternal debt on a non-recourse basis for <span class=\"_ _9\"/>V<span class=\"_ _3\"/>opak, taking into account local circumst<span class=\"_ _5\"/>ances and contractual obligations. R<span class=\"_ _7\"/>ef<span class=\"_ _7\"/>erence is made to note 9.8 for more inf<span class=\"_ _7\"/>ormation with regard to commitments and guarantees provided to joint v<span class=\"_ _7\"/>entures and associates. A<span class=\"_ _3\"/>v<span class=\"_ _7\"/>ailable credit f<span class=\"_ _3\"/>acilities At year<span class=\"_ _9\"/>-end 2022, the compan<span class=\"_ _7\"/>y had t<span class=\"_ _5\"/>w<span class=\"_ _7\"/>o rev<span class=\"_ _7\"/>olving credit facilities (RCFs) whic<span class=\"_ _3\"/>h provide flexibility to finance <span class=\"_ _3\"/>V<span class=\"_ _9\"/>opak\u00b4s long-term growth strategy<span class=\"_ _3\"/>.  31 December 2022 <span class=\"_ _1bc\"> </span>31 December 2021 T<span class=\"_ _8\"/>otal T<span class=\"_ _8\"/>otal 1 1 In EUR millions f<span class=\"_ _7\"/>acility Used <span class=\"_ _fd\"> </span>Unused f<span class=\"_ _7\"/>acility Used <span class=\"_ _fd\"> </span>Unused Ro<span class=\"_ _7\"/>yal <span class=\"_ _3\"/>V<span class=\"_ _3\"/>opak - Rev<span class=\"_ _7\"/>olving credit facility <span class=\"_ _ae\"> </span>1,000.0 <span class=\"_ _17\"> </span>300.0 <span class=\"_ _ad\"> </span>700.0 <span class=\"_ _116\"> </span>1,0<span class=\"_ _5\"/>00.0 <span class=\"_ _11\"> </span>1<span class=\"_ _3\"/>00.0 <span class=\"_ _ad\"> </span>90<span class=\"_ _5\"/>0.0 VTS - Re<span class=\"_ _7\"/>volving credit facility <span class=\"_ _51\"> </span>69.8 <span class=\"_ _95\"> </span>\u2013 <span class=\"_ _bd\"> </span>69.8 <span class=\"_ _19a\"> </span>65.3 <span class=\"_ _fb\"> </span>9.1 <span class=\"_ _19a\"> </span>56.2 T<span class=\"_ _8\"/>otal committed f<span class=\"_ _3\"/>acilities 1,069.8 <span class=\"_ _8f\"> </span>30<span class=\"_ _5\"/>0.0 <span class=\"_ _1a2\"> </span>769.8 <span class=\"_ _147\"> </span>1,065.3 <span class=\"_ _1b\"> </span>1<span class=\"_ _7\"/>09.1 <span class=\"_ _1a2\"> </span>956.2 Ro<span class=\"_ _7\"/>yal <span class=\"_ _3\"/>V<span class=\"_ _3\"/>opak - Bank loan facilities <span class=\"_ _c9\"> </span>465.0 <span class=\"_ _1a\"> </span>27<span class=\"_ _3\"/>6.0 <span class=\"_ _22c\"> </span>189.0 <span class=\"_ _ad\"> </span>595.0 <span class=\"_ _b2\"> </span>462.0 <span class=\"_ _155\"> </span>1<span class=\"_ _3\"/>33.0 T<span class=\"_ _8\"/>otal uncommitted f<span class=\"_ _3\"/>acilities 465.0 <span class=\"_ _116\"> </span>276.0 <span class=\"_ _1a2\"> </span>189.0 <span class=\"_ _1a2\"> </span>595.0 <span class=\"_ _19\"> </span>462.0 <span class=\"_ _1a2\"> </span>133.0 T<span class=\"_ _8\"/>otal facilities <span class=\"_ _14a\"> </span><span class=\"fc0\">1,534.8 <span class=\"_ _116\"> </span>576.0 <span class=\"_ _1a2\"> </span>958.8 <span class=\"_ _147\"> </span></span>1,660.3 <span class=\"_ _1b\"> </span>571.1 <span class=\"_ _10\"> </span>1,089.2 1 <span class=\"_ _b3\"> </span>At nominal value. On 30 June 2022, <span class=\"_ _9\"/>V<span class=\"_ _3\"/>opak successfully renew<span class=\"_ _7\"/>ed its EUR 1 billion senior unsecured   rev<span class=\"_ _7\"/>olving credit facility (RCF) with a syndicate of 1<span class=\"_ _3\"/>2 international relationship banks.   This ne<span class=\"_ _7\"/>w facility replaces the previous R<span class=\"_ _7\"/>CF of EUR 1 billion, whic<span class=\"_ _7\"/>h has been in place   since June 20<span class=\"_ _9\"/>1<span class=\"_ _7\"/>6. <span class=\"_ _9\"/>T<span class=\"_ _7\"/>he new R<span class=\"_ _7\"/>CF is linked to our performance on three k<span class=\"_ _3\"/>ey topics from   V<span class=\"_ _3\"/>opak\u2019<span class=\"_ _9\"/>s Sustainabilit<span class=\"_ _5\"/>y Roadmap: our saf<span class=\"_ _3\"/>et<span class=\"_ _5\"/>y performance, gender div<span class=\"_ _7\"/>ersity in senior management and the reduction of our greenhouse gas emissions. <span class=\"_ _9\"/>T<span class=\"_ _7\"/>he new R<span class=\"_ _7\"/>CF has an initial maturity of five y<span class=\"_ _7\"/>ears with two one year e<span class=\"_ _7\"/>xtension options. <span class=\"_ _9\"/>T<span class=\"_ _7\"/>he new syndicate of banks consists of: ABN <span class=\"_ _3\"/>AMRO Bank, BB<span class=\"_ _3\"/>V<span class=\"_ _3\"/>A, BNP Paribas, CIBC, Citibank, DBS B<span class=\"_ _7\"/>ank, DNB, ICBC, ING, JP Morgan, Rabobank and SMBC B<span class=\"_ _7\"/>ank. ABN <span class=\"_ _7\"/>AMRO and ING acted as coordinating bookrunners and sustainability coordinators on the transaction. <span class=\"_ _9\"/>This f<span class=\"_ _7\"/>acility was utilized f<span class=\"_ _7\"/>or an amount of EUR 300 million at year<span class=\"_ _9\"/>-end 2022.  At 31 December 2022, the Group also had unused lines of credit of EUR 1<span class=\"_ _7\"/>89.0 million (2021: EUR 1<span class=\"_ _3\"/>33.0 million) that are available to meet short-term liquidity needs. <span class=\"_ _9\"/>T<span class=\"_ _7\"/>he Group can be requested to repay these short-term loans on demand. <span class=\"_ _8\"/>There are no significant restrictions on the use of these facilities. Matur<span class=\"_ _3\"/>ity analysis The graph belo<span class=\"_ _7\"/>w provides an o<span class=\"_ _7\"/>verview of the repayment profile of the Group\u2019<span class=\"_ _9\"/>s  interest-bearing loans (ex<span class=\"_ _7\"/>cluding lease liabilities) based on the contractual undiscounted  cash flows. F<span class=\"_ _3\"/>or the maturity ov<span class=\"_ _7\"/>er<span class=\"_ _5\"/>view of the lease liabilities, ref<span class=\"_ _3\"/>erence is made to note 3.4. The table below analy<span class=\"_ _7\"/>ses the Group\u2019<span class=\"_ _9\"/>s non-derivative financial liabilities and net-set<span class=\"_ _9\"/>tled derivativ<span class=\"_ _7\"/>e financial liabilities into relev<span class=\"_ _7\"/>ant maturity categories based on the remaining period at the end of the reporting period to the contractual mat<span class=\"_ _3\"/>urit<span class=\"_ _5\"/>y date. Derivativ<span class=\"_ _7\"/>e financial instruments are included in the analy<span class=\"_ _7\"/>sis if their contractual mat<span class=\"_ _3\"/>urities are essential for an understanding of the timing of the cash flows. <span class=\"_ _9\"/>T<span class=\"_ _7\"/>he table also analyses the maturity profile  of financial assets in order to provide a complete o<span class=\"_ _7\"/>verview of the contractual commitments and liquidity<span class=\"_ _3\"/>. <span class=\"_ _9\"/>The amounts disclosed in the table are the contractual undiscounted cash flows. <span class=\"_ _8\"/>The financial guarantees and securities issued (see note 9.8) are included f<span class=\"_ _7\"/>or their full amount and it is assumed for disclosure purposes that these can be called within one y<span class=\"_ _7\"/>ear<span class=\"_ _3\"/>. &lt; 1 year <span class=\"_ _15f\"> </span>1-2 y<span class=\"_ _7\"/>ears <span class=\"_ _c0\"> </span>2-5 years <span class=\"_ _c0\"> </span>&gt; 5 y<span class=\"_ _7\"/>ears In EUR millions - at 31 December <span class=\"_ _2bf\"> </span>2022 <span class=\"_ _53\"> </span><span class=\"fc7\">2021 <span class=\"_ _53\"> </span></span>2022 <span class=\"_ _53\"> </span><span class=\"fc7\">2021 <span class=\"_ _53\"> </span></span>2022 <span class=\"_ _53\"> </span><span class=\"fc7\">2021 <span class=\"_ _53\"> </span></span>2022 <span class=\"_ _53\"> </span>202Cash and cash equivalents <span class=\"_ _241\"> </span>33.8 <span class=\"_ _7c\"> </span>73.4 <span class=\"_ _184\"> </span>\u2013 <span class=\"_ _6d\"> </span>\u2013 <span class=\"_ _6d\"> </span>\u2013 <span class=\"_ _6d\"> </span>\u2013 <span class=\"_ _184\"> </span>\u2013 <span class=\"_ _6d\"> </span>\u2013 T<span class=\"_ _9\"/>rade and other receivables <span class=\"_ _2c0\"> </span>31<span class=\"_ _7\"/>8.5 <span class=\"_ _c7\"> </span>259.6 <span class=\"_ _6d\"> </span>\u2013 <span class=\"_ _184\"> </span>\u2013 <span class=\"_ _6d\"> </span>\u2013 <span class=\"_ _6d\"> </span>\u2013 <span class=\"_ _6d\"> </span>\u2013 <span class=\"_ _184\"> </span>\u2013 Other loans <span class=\"_ _264\"> </span>2.9 <span class=\"_ _41\"> </span>1<span class=\"_ _9\"/>.7 <span class=\"_ _3f\"> </span>2.0 <span class=\"_ _cb\"> </span>1<span class=\"_ _9\"/>.7 <span class=\"_ _7c\"> </span>40.2 <span class=\"_ _3f\"> </span>6.6 <span class=\"_ _184\"> </span>\u2013 <span class=\"_ _46\"> </span>36.6 Finance lease receivable <span class=\"_ _207\"> </span>1<span class=\"_ _7\"/>3.8 <span class=\"_ _49\"> </span>13.2 <span class=\"_ _46\"> </span>13.9 <span class=\"_ _46\"> </span>13.3 <span class=\"_ _51\"> </span>41<span class=\"_ _9\"/>.4 <span class=\"_ _7c\"> </span>40.4 <span class=\"_ _190\"> </span>132.3 <span class=\"_ _c7\"> </span>140.5 T<span class=\"_ _8\"/>otal undiscounted financial assets (excluding gr<span class=\"_ _7\"/>oss settled der<span class=\"_ _7\"/>iv<span class=\"_ _7\"/>atives) 369.0 <span class=\"_ _c7\"> </span>347<span class=\"_ _8\"/>.9 <span class=\"_ _1b2\"> </span>15.9 <span class=\"_ _7f\"> </span>15.0 <span class=\"_ _1bb\"> </span>81<span class=\"_ _7\"/>.6 <span class=\"_ _49\"> </span>47<span class=\"_ _1\"/>.0 <span class=\"_ _69\"> </span>132.3 <span class=\"_ _c7\"> </span>177<span class=\"_ _1\"/>.1 Bank o<span class=\"_ _7\"/>verdraf<span class=\"_ _3\"/>ts <span class=\"_ _29a\"> </span>1<span class=\"_ _9\"/>.1 <span class=\"_ _3f\"> </span>2.6 <span class=\"_ _6d\"> </span>\u2013 <span class=\"_ _184\"> </span>\u2013 <span class=\"_ _6d\"> </span>\u2013 <span class=\"_ _6d\"> </span>\u2013 <span class=\"_ _6d\"> </span>\u2013 <span class=\"_ _6d\"> </span>\u2013 Redemption of interest-bearing loans <span class=\"_ _17e\"> </span>420.2 <span class=\"_ _3f\"> </span>0.8 <span class=\"_ _190\"> </span>213.1 <span class=\"_ _c7\"> </span>505.5 <span class=\"_ _4f\"> </span>90<span class=\"_ _3\"/>1<span class=\"_ _9\"/>.8 <span class=\"_ _4f\"> </span>527<span class=\"_ _8\"/>.0 <span class=\"_ _53\"> </span>551<span class=\"_ _9\"/>.7 <span class=\"_ _c7\"> </span>792.2 Short-term borrowings <span class=\"_ _2c1\"> </span>27<span class=\"_ _3\"/>6.8 <span class=\"_ _c7\"> </span>462.0 <span class=\"_ _6d\"> </span>\u2013 <span class=\"_ _184\"> </span>\u2013 <span class=\"_ _6d\"> </span>\u2013 <span class=\"_ _6d\"> </span>\u2013 <span class=\"_ _6d\"> </span>\u2013 <span class=\"_ _6d\"> </span>\u2013 Lease liabilities <span class=\"_ _2c2\"> </span>56.8 <span class=\"_ _46\"> </span>55.3 <span class=\"_ _51\"> </span>51<span class=\"_ _9\"/>.6 <span class=\"_ _46\"> </span>52.9 <span class=\"_ _e6\"> </span>147<span class=\"_ _d\"/>.0 <span class=\"_ _190\"> </span>1<span class=\"_ _7\"/>40.5 <span class=\"_ _c7\"> </span>830.7 <span class=\"_ _190\"> </span>815.4 Interest payments <span class=\"_ _12b\"> </span>62.2 <span class=\"_ _7c\"> </span>63.6 <span class=\"_ _46\"> </span>52.1 <span class=\"_ _83\"> </span>57<span class=\"_ _1\"/>.9 <span class=\"_ _46\"> </span>89.3 <span class=\"_ _4f\"> </span>1<span class=\"_ _9\"/>13.9 <span class=\"_ _c7\"> </span>144.8 <span class=\"_ _c7\"> </span>124.8 Interest rate swaps <span class=\"_ _2c3\"> </span>3.6 <span class=\"_ _3f\"> </span>4.1 <span class=\"_ _3f\"> </span>2.0 <span class=\"_ _3f\"> </span>3.3 <span class=\"_ _3f\"> </span>4.0 <span class=\"_ _3f\"> </span>4.4 <span class=\"_ _3f\"> </span>0.5 <span class=\"_ _cb\"> </span>1<span class=\"_ _9\"/>.2 T<span class=\"_ _9\"/>rade and other creditors (excluding non-financial instr<span class=\"_ _3\"/>uments) <span class=\"_ _18f\"> </span>1<span class=\"_ _7\"/>94.4 <span class=\"_ _190\"> </span>184.1 <span class=\"_ _72\"> </span>\u2013 <span class=\"_ _184\"> </span>\u2013 <span class=\"_ _6d\"> </span>\u2013 <span class=\"_ _6d\"> </span>\u2013 <span class=\"_ _6d\"> </span>\u2013 <span class=\"_ _184\"> </span>\u2013 T<span class=\"_ _8\"/>otal undiscounted financial liabilities (excluding gr<span class=\"_ _7\"/>oss settled der<span class=\"_ _7\"/>iv<span class=\"_ _7\"/>atives) 1,0<span class=\"_ _3\"/>15.1 <span class=\"_ _69\"> </span>772.5 <span class=\"_ _8d\"> </span>318.8 <span class=\"_ _69\"> </span>61<span class=\"_ _7\"/>9.6 <span class=\"_ _18e\"> </span>1,142.1 <span class=\"_ _69\"> </span>785.8 <span class=\"_ _115\"> </span>1,527<span class=\"_ _8\"/>.7 <span class=\"_ _e3\"> </span>1,733.6 Derivativ<span class=\"_ _7\"/>e financial instruments outflow <span class=\"_ _2c4\"> </span>- 246.1 <span class=\"_ _6d\"> </span>\u2013 <span class=\"_ _f9\"> </span>- 1<span class=\"_ _3\"/>51<span class=\"_ _9\"/>.3 <span class=\"_ _4d\"> </span>- 246.1 <span class=\"_ _131\"> </span>- 61<span class=\"_ _9\"/>.2 <span class=\"_ _4d\"> </span>- 212.6 <span class=\"_ _c7\"> </span>- 66.6 <span class=\"_ _c7\"> </span>- 66.6 Derivativ<span class=\"_ _7\"/>e financial instruments inflow <span class=\"_ _218\"> </span>295.3 <span class=\"_ _6d\"> </span>\u2013 <span class=\"_ _4f\"> </span>1<span class=\"_ _7\"/>41<span class=\"_ _9\"/>.0 <span class=\"_ _c7\"> </span>278.0 <span class=\"_ _7c\"> </span>70.3 <span class=\"_ _190\"> </span>219.7 <span class=\"_ _7c\"> </span>73.2 <span class=\"_ _46\"> </span>68.9 T<span class=\"_ _8\"/>otal undiscounted gross set<span class=\"_ _7\"/>tled deriv<span class=\"_ _3\"/>atives 49.2 <span class=\"_ _72\"> </span>\u2013 <span class=\"_ _8d\"> </span>- 1<span class=\"_ _7\"/>0.3 <span class=\"_ _19c\"> </span>31.9 <span class=\"_ _2f\"> </span>9.1 <span class=\"_ _185\"> </span>7<span class=\"_ _8\"/>.1 <span class=\"_ _88\"> </span>6.6 <span class=\"_ _88\"> </span>2.3 Financial guarantees and securities issued <span class=\"_ _2c5\"> </span>1<span class=\"_ _9\"/>1<span class=\"_ _7\"/>2.1<span class=\"_ _19c\"> </span>1<span class=\"_ _9\"/>16.7 <span class=\"_ _72\"> </span>\u2013 <span class=\"_ _184\"> </span>\u2013 <span class=\"_ _6d\"> </span>\u2013 <span class=\"_ _6d\"> </span>\u2013 <span class=\"_ _6d\"> </span>\u2013 <span class=\"_ _184\"> </span>\u2013 T<span class=\"_ _8\"/>otal financial guarantees and secur<span class=\"_ _7\"/>ities 1<span class=\"_ _9\"/>12.1<span class=\"_ _e6\"> </span>1<span class=\"_ _9\"/>16.7 <span class=\"_ _72\"> </span>\u2013 <span class=\"_ _72\"> </span>\u2013 <span class=\"_ _72\"> </span>\u2013 <span class=\"_ _6d\"> </span>\u2013 <span class=\"_ _72\"> </span>\u2013 <span class=\"_ _72\"> </span>\u2013 Liquidity mov<span class=\"_ _7\"/>ements <span class=\"_ _1ee\"> </span><span class=\"fc0\">- 709.0<span class=\"_ _e1\"> </span></span>- 541<span class=\"_ _7\"/>.3 <span class=\"_ _d0\"> </span><span class=\"fc0\">- 313.2 <span class=\"_ _d0\"> </span></span>- 572.7 <span class=\"_ _b0\"> </span>- 1,051<span class=\"_ _3\"/>.4 <span class=\"_ _118\"> </span><span class=\"fcb\">- 731<span class=\"_ _7\"/>.7 <span class=\"_ _c3\"> </span><span class=\"fc0\">- 1,388.8 <span class=\"_ _fb\"> </span></span>- 1,554.2 </span>",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfFinancialRiskManagementExplanatory",
    "language": "en",
    "entity": "scheme:724500UL634GFV1KYF10",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
   }
  },
  "pp-value-159-3": {
   "value": "Note 6.2 Derivatives and hedge accounting In order to control the risks attached to fluctuations in foreign currencies and interest rates, Vopak uses derivative financial instruments in accordance with a financial policy approved by the Executive Board. This financial policy is designed to control the effects of such risks on cash flows, equity and results. Speculative positions are not allowed. The main derivative financial instruments used by the Group are forward exchange contracts (Forwards), interest rate swaps (IRSs) and cross-currency interest rate swaps (CCIRSs). Hedge accounting is applied to remove the accounting mismatch between the hedging instrument and the hedged item. This will effectively result in recognizing interest expense at a fixed interest rate for the hedged loans, and removing the currency exposure from loans and receivables as well as purchases of property, plant and equipment at the fixed foreign currency rate for the hedged items. Reconciliation of derivative financial instruments The next table shows the effects of combining the currency derivative financial instruments (see note 6.3) and the interest derivative financial instruments (see note 6.4) and a reconciliation to the Consolidated statement of financial position. 31 December 2022  31 December 2021 In EUR millions  Note  Assets  Liabilities  Total  Assets  Liabilities  Total Currency derivative financial instruments  6.3  73.4  6.0  67.4  43.6  7.6  36.0 Total derivative financial instruments 73.4  6.0  67.4  43.6  7.6  36.0 Total  73.4  6.0  67.4  43.6  7.6  36.0 Non-current  15.1  1.7  13.4  35.6  \u2013  35.6 Current  58.3  4.3  54.0  8.0  7.6  0.4 Total  73.4  6.0  67.4  43.6  7.6  36.0 The table below shows the movements in the Group\u2019s total derivative portfolio for the year. In EUR millions  Note  Forwards  Swaps  Total 31 December 2021  65.7  - 29.7  36.0 Settlement of derivatives  2.9  36.0  - 4.6  31.4 Effective part of hedges of net investments to other comprehensive income  5.2  - 3.0  \u2013  - 3.0 Effective part of cash flow hedges to other comprehensive Income  5.2  \u2013  15.3  15.3 Fair value movement of derivatives not in a hedge relationship  5.6  - 12.3  \u2013  - 12.3 31 December 2022  86.4  - 19.0  67.4 For an overview of the movements in the hedging reserve in shareholders\u2019 equity, reference is made to note 5.2. ",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfDerivativeFinancialInstrumentsExplanatory",
    "language": "en",
    "entity": "scheme:724500UL634GFV1KYF10",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
   }
  },
  "pp-value-160-4": {
   "value": "A Accounting policies Derivative financial instruments are recognized in the statement of financial position on the transaction date and measured at fair value. Changes in fair value are recognized in the statement of income unless hedge accounting is applied. With respect to hedge accounting, Vopak makes a distinction between fair value hedges, cash flow hedges and hedges of net investments in foreign operations. Derivatives are only used for economic hedging purposes and not as speculative investments. However, where derivatives do not meet the hedging criteria, they are classified as \u2018held for trading\u2019 for accounting purposes. At the inception of the hedging transaction, the Group formally designates and documents the economic relationship between eligible hedging instruments and hedged items to which it will apply hedge accounting and the risk management objective and strategy for undertaking the hedge.  The documentation includes identification of the hedging instrument, the hedged item, the nature of the risk being hedged and how the Group will assess whether the hedging relationship meets the hedge effectiveness requirements (including the analysis of sources of hedge ineffectiveness and how the hedge ratio is determined). A hedging relationship qualifies for hedge accounting if it meets all of the following effectiveness requirements: \u2022  There is \u2018an economic relationship\u2019 between the hedged item and the hedging instrument \u2022  The effect of credit risk does not \u2018dominate the value changes\u2019 that result from that economic relationship \u2022  The hedge ratio of the hedging relationship is the same as that resulting from the quantity of the hedged item that the Group actually hedges and the quantity of the hedging instrument that the Group actually uses to hedge that quantity of hedged item. Hedge effectiveness is determined at the inception of the hedge relationship, and through periodic prospective effectiveness assessments, to ensure that an economic relationship exists between the hedged item and hedging instrument. Fair value hedges The Group normally only applies fair value hedge accounting for hedging fixed-interest risk on loans drawn. Changes in the fair value of derivatives that are designated and qualify as fair value hedges are recorded in the income statement, together with any changes in the fair value of the hedged item that are attributable to the hedged risk. The gain or loss relating to the effective and ineffective portion of the derivative is recognized in the income statement within Net finance costs, together with changes in the fair value of the hedged fixed-rate borrowings attributable to interest rate risk. For fair value hedges relating to items carried at amortized cost, any adjustment to carrying value is amortized through the income statement over the remaining term of the hedge using the Effective Interest Rate (EIR) method. The EIR amortization may begin as soon as an adjustment exists and no later than when the hedged item ceases to be adjusted for changes in its fair value attributable to the risk being hedged. If the hedge no longer meets the criteria for hedge accounting, the adjustment to the carrying amount of a hedged item for which the effective interest method is used is amortized to the income statement over the period to maturity using a recalculated effective interest rate. Cash flow hedges A cash flow hedge is applicable for those derivatives qualifying and designated as a hedge of the change in cash flows to be received or paid relating to a recognized asset or liability or a highly probable forecasted transaction. Hedge effectiveness is determined at the inception of the hedge relationship, and through periodic prospective effectiveness assessments to ensure that an economic relationship exists between the hedged item and hedging instrument. The Group enters into hedge relationships where the critical terms of the hedging instrument match exactly with the terms of the hedged item, and thus a qualitative assessment of effectiveness is performed. If changes in circumstances affect the terms of the hedged item such that the critical terms no longer match exactly with the critical terms of the hedging instrument, the Group uses the dollar offset method to assess effectiveness. The effective parts of changes in the fair value of derivative financial instruments are recognized in Other comprehensive income. Ineffectiveness on cash flow hedges is recognized where the cumulative change in the designated component value of the hedging instrument exceeds, on an absolute basis, the change in value of the hedged item attributable to the hedged risk. The gain or loss as a result of ineffectiveness and the interest component that is a result of the time value of money in the valuation of the derivative financial instrument are recognized directly in the statement of income. This also applies to the credit risks on derivatives, unless the cumulative change in the fair value of the hedging instrument is lower than the hedged item. Amounts accumulated in equity are reclassified to profit or loss at the same date as the hedged transaction affects profit or loss or if the hedged transaction is no longer probable. The effects are shown under Finance costs. If the established agreement or the foreseeable transaction that is hedged results in the recognition of a non-financial asset, the accumulated gains or losses previously deferred in equity are reclassified from equity and recognized in the initial recognition of the asset or liability. If a hedging instrument or the hedge relationship is terminated but the hedged transaction is still expected to take place, the accumulated gains or losses will remain in equity at that time and will subsequently be recognized in the statement of income when the previously hedged transaction takes place. Net investment hedges Net investments in foreign operations can be hedged (net investment hedge) by qualifying and designated derivative financial instruments or debt instruments denominated in foreign currency. Hedges of a net investment in a foreign operation, including a hedge of a monetary item that is accounted for as part of the net investment, are accounted for in a way similar to cash flow hedges. Gains or losses on the hedging instrument relating to the effective portion of the hedge are recognized in the translation reserve (equity component) via OCI to the extent that they relate to the hedging of net investments in foreign activities. The gain or loss relating to the ineffective portion is recognized immediately in the income statement. Reversal through the statement of income takes place proportionately if all or part of the underlying position is derecognized. The ineffective part and the interest component are recognized directly in the statement of income.  Derivatives that do not qualify for hedge accounting Certain derivative instruments do not qualify for hedge accounting. Changes in the fair value of any derivative instrument that does not qualify for hedge accounting are recognized immediately in the income statement and are included in the Finance costs. This mainly comprises derivatives that are used to hedge the foreign currency risk on intra-group positions. Although the derivatives have not been designated in a hedge relationship, they act as an economic hedge and will offset the underlying transactions when they occur. Determination of fair value for financial instruments  A number of the Group\u2019s accounting policies and disclosures require the determination of fair value for the financial instruments. A fair value measurement is an estimate of the price that would be received upon the sale of an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. Where available, fair value measurements are derived from quoted prices (unadjusted) in active markets for identical assets or liabilities (level 1). In the absence of such information, other observable inputs, either directly (i.e. as prices) or indirectly (i.e. derived from prices), are used to estimate fair values (level 2). No material financial instruments were measured at fair value using level 3 (inputs not based on observable market data). Inputs derived from external sources are corroborated or otherwise verified, as appropriate.   The fair values of the Private Placements, revolving credit facility and other long-term bank loans are measured by discounting the future cash flows using observable market interest information (level 2) as no similar instrument is available due to the specific profiles of the instruments. The calculations include credit spreads based on the most recent borrowing contracts.   The fair values of interest rate swaps, cross-currency interest rate swaps and forward foreign exchange contracts are determined by discounting the future cash flows using the applicable period-end observable yield curve, taking into account credit risk and the risk of non-performance.   In view of the short-term nature or the magnitude of the amounts, the Group considers that the fair value of loans granted, trade and other receivables, cash and cash equivalents, bank overdrafts, credit facilities, other long-term loans and trade creditors are not materially different from their carrying value.  The fair value of the Other equity investments (level 3) are based on discounted cash flow projections based on reliable estimates of future cash flows or recent transactions.  The initial measurement at the trade date of all financial instruments is the fair value. Except for derivatives, the initial measurement of financial instruments is adjusted for directly attributable transaction costs.   ",
   "dimensions": {
    "concept": "ifrs-full:DescriptionOfAccountingPolicyForFinancialInstrumentsExplanatory",
    "language": "en",
    "entity": "scheme:724500UL634GFV1KYF10",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
   }
  },
  "pp-value-160-5": {
   "value": "A Accounting policies Derivative financial instruments are recognized in the statement of financial position on the transaction date and measured at fair value. Changes in fair value are recognized in the statement of income unless hedge accounting is applied. With respect to hedge accounting, Vopak makes a distinction between fair value hedges, cash flow hedges and hedges of net investments in foreign operations. Derivatives are only used for economic hedging purposes and not as speculative investments. However, where derivatives do not meet the hedging criteria, they are classified as \u2018held for trading\u2019 for accounting purposes. At the inception of the hedging transaction, the Group formally designates and documents the economic relationship between eligible hedging instruments and hedged items to which it will apply hedge accounting and the risk management objective and strategy for undertaking the hedge.  The documentation includes identification of the hedging instrument, the hedged item, the nature of the risk being hedged and how the Group will assess whether the hedging relationship meets the hedge effectiveness requirements (including the analysis of sources of hedge ineffectiveness and how the hedge ratio is determined). A hedging relationship qualifies for hedge accounting if it meets all of the following effectiveness requirements: \u2022  There is \u2018an economic relationship\u2019 between the hedged item and the hedging instrument \u2022  The effect of credit risk does not \u2018dominate the value changes\u2019 that result from that economic relationship \u2022  The hedge ratio of the hedging relationship is the same as that resulting from the quantity of the hedged item that the Group actually hedges and the quantity of the hedging instrument that the Group actually uses to hedge that quantity of hedged item. Hedge effectiveness is determined at the inception of the hedge relationship, and through periodic prospective effectiveness assessments, to ensure that an economic relationship exists between the hedged item and hedging instrument. Fair value hedges The Group normally only applies fair value hedge accounting for hedging fixed-interest risk on loans drawn. Changes in the fair value of derivatives that are designated and qualify as fair value hedges are recorded in the income statement, together with any changes in the fair value of the hedged item that are attributable to the hedged risk. The gain or loss relating to the effective and ineffective portion of the derivative is recognized in the income statement within Net finance costs, together with changes in the fair value of the hedged fixed-rate borrowings attributable to interest rate risk. For fair value hedges relating to items carried at amortized cost, any adjustment to carrying value is amortized through the income statement over the remaining term of the hedge using the Effective Interest Rate (EIR) method. The EIR amortization may begin as soon as an adjustment exists and no later than when the hedged item ceases to be adjusted for changes in its fair value attributable to the risk being hedged. If the hedge no longer meets the criteria for hedge accounting, the adjustment to the carrying amount of a hedged item for which the effective interest method is used is amortized to the income statement over the period to maturity using a recalculated effective interest rate. Cash flow hedges A cash flow hedge is applicable for those derivatives qualifying and designated as a hedge of the change in cash flows to be received or paid relating to a recognized asset or liability or a highly probable forecasted transaction. Hedge effectiveness is determined at the inception of the hedge relationship, and through periodic prospective effectiveness assessments to ensure that an economic relationship exists between the hedged item and hedging instrument. The Group enters into hedge relationships where the critical terms of the hedging instrument match exactly with the terms of the hedged item, and thus a qualitative assessment of effectiveness is performed. If changes in circumstances affect the terms of the hedged item such that the critical terms no longer match exactly with the critical terms of the hedging instrument, the Group uses the dollar offset method to assess effectiveness. The effective parts of changes in the fair value of derivative financial instruments are recognized in Other comprehensive income. Ineffectiveness on cash flow hedges is recognized where the cumulative change in the designated component value of the hedging instrument exceeds, on an absolute basis, the change in value of the hedged item attributable to the hedged risk. The gain or loss as a result of ineffectiveness and the interest component that is a result of the time value of money in the valuation of the derivative financial instrument are recognized directly in the statement of income. This also applies to the credit risks on derivatives, unless the cumulative change in the fair value of the hedging instrument is lower than the hedged item. Amounts accumulated in equity are reclassified to profit or loss at the same date as the hedged transaction affects profit or loss or if the hedged transaction is no longer probable. The effects are shown under Finance costs. If the established agreement or the foreseeable transaction that is hedged results in the recognition of a non-financial asset, the accumulated gains or losses previously deferred in equity are reclassified from equity and recognized in the initial recognition of the asset or liability. If a hedging instrument or the hedge relationship is terminated but the hedged transaction is still expected to take place, the accumulated gains or losses will remain in equity at that time and will subsequently be recognized in the statement of income when the previously hedged transaction takes place. Net investment hedges Net investments in foreign operations can be hedged (net investment hedge) by qualifying and designated derivative financial instruments or debt instruments denominated in foreign currency. Hedges of a net investment in a foreign operation, including a hedge of a monetary item that is accounted for as part of the net investment, are accounted for in a way similar to cash flow hedges. Gains or losses on the hedging instrument relating to the effective portion of the hedge are recognized in the translation reserve (equity component) via OCI to the extent that they relate to the hedging of net investments in foreign activities. The gain or loss relating to the ineffective portion is recognized immediately in the income statement. Reversal through the statement of income takes place proportionately if all or part of the underlying position is derecognized. The ineffective part and the interest component are recognized directly in the statement of income.  ",
   "dimensions": {
    "concept": "ifrs-full:DescriptionOfAccountingPolicyForDerecognitionOfFinancialInstrumentsExplanatory",
    "language": "en",
    "entity": "scheme:724500UL634GFV1KYF10",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
   }
  },
  "pp-value-160-6": {
   "value": "A Accounting policies Derivative financial instruments are recognized in the statement of financial position on the transaction date and measured at fair value. Changes in fair value are recognized in the statement of income unless hedge accounting is applied. With respect to hedge accounting, Vopak makes a distinction between fair value hedges, cash flow hedges and hedges of net investments in foreign operations. Derivatives are only used for economic hedging purposes and not as speculative investments. However, where derivatives do not meet the hedging criteria, they are classified as \u2018held for trading\u2019 for accounting purposes. At the inception of the hedging transaction, the Group formally designates and documents the economic relationship between eligible hedging instruments and hedged items to which it will apply hedge accounting and the risk management objective and strategy for undertaking the hedge.  The documentation includes identification of the hedging instrument, the hedged item, the nature of the risk being hedged and how the Group will assess whether the hedging relationship meets the hedge effectiveness requirements (including the analysis of sources of hedge ineffectiveness and how the hedge ratio is determined). A hedging relationship qualifies for hedge accounting if it meets all of the following effectiveness requirements: \u2022  There is \u2018an economic relationship\u2019 between the hedged item and the hedging instrument \u2022  The effect of credit risk does not \u2018dominate the value changes\u2019 that result from that economic relationship \u2022  The hedge ratio of the hedging relationship is the same as that resulting from the quantity of the hedged item that the Group actually hedges and the quantity of the hedging instrument that the Group actually uses to hedge that quantity of hedged item. Hedge effectiveness is determined at the inception of the hedge relationship, and through periodic prospective effectiveness assessments, to ensure that an economic relationship exists between the hedged item and hedging instrument. Fair value hedges The Group normally only applies fair value hedge accounting for hedging fixed-interest risk on loans drawn. Changes in the fair value of derivatives that are designated and qualify as fair value hedges are recorded in the income statement, together with any changes in the fair value of the hedged item that are attributable to the hedged risk. The gain or loss relating to the effective and ineffective portion of the derivative is recognized in the income statement within Net finance costs, together with changes in the fair value of the hedged fixed-rate borrowings attributable to interest rate risk. For fair value hedges relating to items carried at amortized cost, any adjustment to carrying value is amortized through the income statement over the remaining term of the hedge using the Effective Interest Rate (EIR) method. The EIR amortization may begin as soon as an adjustment exists and no later than when the hedged item ceases to be adjusted for changes in its fair value attributable to the risk being hedged. If the hedge no longer meets the criteria for hedge accounting, the adjustment to the carrying amount of a hedged item for which the effective interest method is used is amortized to the income statement over the period to maturity using a recalculated effective interest rate. Cash flow hedges A cash flow hedge is applicable for those derivatives qualifying and designated as a hedge of the change in cash flows to be received or paid relating to a recognized asset or liability or a highly probable forecasted transaction. Hedge effectiveness is determined at the inception of the hedge relationship, and through periodic prospective effectiveness assessments to ensure that an economic relationship exists between the hedged item and hedging instrument. The Group enters into hedge relationships where the critical terms of the hedging instrument match exactly with the terms of the hedged item, and thus a qualitative assessment of effectiveness is performed. If changes in circumstances affect the terms of the hedged item such that the critical terms no longer match exactly with the critical terms of the hedging instrument, the Group uses the dollar offset method to assess effectiveness. The effective parts of changes in the fair value of derivative financial instruments are recognized in Other comprehensive income. Ineffectiveness on cash flow hedges is recognized where the cumulative change in the designated component value of the hedging instrument exceeds, on an absolute basis, the change in value of the hedged item attributable to the hedged risk. The gain or loss as a result of ineffectiveness and the interest component that is a result of the time value of money in the valuation of the derivative financial instrument are recognized directly in the statement of income. This also applies to the credit risks on derivatives, unless the cumulative change in the fair value of the hedging instrument is lower than the hedged item. Amounts accumulated in equity are reclassified to profit or loss at the same date as the hedged transaction affects profit or loss or if the hedged transaction is no longer probable. The effects are shown under Finance costs. If the established agreement or the foreseeable transaction that is hedged results in the recognition of a non-financial asset, the accumulated gains or losses previously deferred in equity are reclassified from equity and recognized in the initial recognition of the asset or liability. If a hedging instrument or the hedge relationship is terminated but the hedged transaction is still expected to take place, the accumulated gains or losses will remain in equity at that time and will subsequently be recognized in the statement of income when the previously hedged transaction takes place. Net investment hedges Net investments in foreign operations can be hedged (net investment hedge) by qualifying and designated derivative financial instruments or debt instruments denominated in foreign currency. Hedges of a net investment in a foreign operation, including a hedge of a monetary item that is accounted for as part of the net investment, are accounted for in a way similar to cash flow hedges. Gains or losses on the hedging instrument relating to the effective portion of the hedge are recognized in the translation reserve (equity component) via OCI to the extent that they relate to the hedging of net investments in foreign activities. The gain or loss relating to the ineffective portion is recognized immediately in the income statement. Reversal through the statement of income takes place proportionately if all or part of the underlying position is derecognized. The ineffective part and the interest component are recognized directly in the statement of income.  ",
   "dimensions": {
    "concept": "ifrs-full:DescriptionOfAccountingPolicyForDerivativeFinancialInstrumentsAndHedgingExplanatory",
    "language": "en",
    "entity": "scheme:724500UL634GFV1KYF10",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
   }
  },
  "pp-value-160-7": {
   "value": "A Accounting policies Derivative financial instruments are recognized in the statement of financial position on the transaction date and measured at fair value. Changes in fair value are recognized in the statement of income unless hedge accounting is applied. With respect to hedge accounting, Vopak makes a distinction between fair value hedges, cash flow hedges and hedges of net investments in foreign operations. Derivatives are only used for economic hedging purposes and not as speculative investments. However, where derivatives do not meet the hedging criteria, they are classified as \u2018held for trading\u2019 for accounting purposes. At the inception of the hedging transaction, the Group formally designates and documents the economic relationship between eligible hedging instruments and hedged items to which it will apply hedge accounting and the risk management objective and strategy for undertaking the hedge.  The documentation includes identification of the hedging instrument, the hedged item, the nature of the risk being hedged and how the Group will assess whether the hedging relationship meets the hedge effectiveness requirements (including the analysis of sources of hedge ineffectiveness and how the hedge ratio is determined). A hedging relationship qualifies for hedge accounting if it meets all of the following effectiveness requirements: \u2022  There is \u2018an economic relationship\u2019 between the hedged item and the hedging instrument \u2022  The effect of credit risk does not \u2018dominate the value changes\u2019 that result from that economic relationship \u2022  The hedge ratio of the hedging relationship is the same as that resulting from the quantity of the hedged item that the Group actually hedges and the quantity of the hedging instrument that the Group actually uses to hedge that quantity of hedged item. Hedge effectiveness is determined at the inception of the hedge relationship, and through periodic prospective effectiveness assessments, to ensure that an economic relationship exists between the hedged item and hedging instrument. Fair value hedges The Group normally only applies fair value hedge accounting for hedging fixed-interest risk on loans drawn. Changes in the fair value of derivatives that are designated and qualify as fair value hedges are recorded in the income statement, together with any changes in the fair value of the hedged item that are attributable to the hedged risk. The gain or loss relating to the effective and ineffective portion of the derivative is recognized in the income statement within Net finance costs, together with changes in the fair value of the hedged fixed-rate borrowings attributable to interest rate risk. For fair value hedges relating to items carried at amortized cost, any adjustment to carrying value is amortized through the income statement over the remaining term of the hedge using the Effective Interest Rate (EIR) method. The EIR amortization may begin as soon as an adjustment exists and no later than when the hedged item ceases to be adjusted for changes in its fair value attributable to the risk being hedged. If the hedge no longer meets the criteria for hedge accounting, the adjustment to the carrying amount of a hedged item for which the effective interest method is used is amortized to the income statement over the period to maturity using a recalculated effective interest rate. Cash flow hedges A cash flow hedge is applicable for those derivatives qualifying and designated as a hedge of the change in cash flows to be received or paid relating to a recognized asset or liability or a highly probable forecasted transaction. Hedge effectiveness is determined at the inception of the hedge relationship, and through periodic prospective effectiveness assessments to ensure that an economic relationship exists between the hedged item and hedging instrument. The Group enters into hedge relationships where the critical terms of the hedging instrument match exactly with the terms of the hedged item, and thus a qualitative assessment of effectiveness is performed. If changes in circumstances affect the terms of the hedged item such that the critical terms no longer match exactly with the critical terms of the hedging instrument, the Group uses the dollar offset method to assess effectiveness. The effective parts of changes in the fair value of derivative financial instruments are recognized in Other comprehensive income. Ineffectiveness on cash flow hedges is recognized where the cumulative change in the designated component value of the hedging instrument exceeds, on an absolute basis, the change in value of the hedged item attributable to the hedged risk. The gain or loss as a result of ineffectiveness and the interest component that is a result of the time value of money in the valuation of the derivative financial instrument are recognized directly in the statement of income. This also applies to the credit risks on derivatives, unless the cumulative change in the fair value of the hedging instrument is lower than the hedged item. Amounts accumulated in equity are reclassified to profit or loss at the same date as the hedged transaction affects profit or loss or if the hedged transaction is no longer probable. The effects are shown under Finance costs. If the established agreement or the foreseeable transaction that is hedged results in the recognition of a non-financial asset, the accumulated gains or losses previously deferred in equity are reclassified from equity and recognized in the initial recognition of the asset or liability. If a hedging instrument or the hedge relationship is terminated but the hedged transaction is still expected to take place, the accumulated gains or losses will remain in equity at that time and will subsequently be recognized in the statement of income when the previously hedged transaction takes place. Net investment hedges Net investments in foreign operations can be hedged (net investment hedge) by qualifying and designated derivative financial instruments or debt instruments denominated in foreign currency. Hedges of a net investment in a foreign operation, including a hedge of a monetary item that is accounted for as part of the net investment, are accounted for in a way similar to cash flow hedges. Gains or losses on the hedging instrument relating to the effective portion of the hedge are recognized in the translation reserve (equity component) via OCI to the extent that they relate to the hedging of net investments in foreign activities. The gain or loss relating to the ineffective portion is recognized immediately in the income statement. Reversal through the statement of income takes place proportionately if all or part of the underlying position is derecognized. The ineffective part and the interest component are recognized directly in the statement of income.  ",
   "dimensions": {
    "concept": "ifrs-full:DescriptionOfAccountingPolicyForDerivativeFinancialInstrumentsExplanatory",
    "language": "en",
    "entity": "scheme:724500UL634GFV1KYF10",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
   }
  },
  "pp-value-160-8": {
   "value": "A Accounting policies Derivative financial instruments are recognized in the statement of financial position on the transaction date and measured at fair value. Changes in fair value are recognized in the statement of income unless hedge accounting is applied. With respect to hedge accounting, Vopak makes a distinction between fair value hedges, cash flow hedges and hedges of net investments in foreign operations. Derivatives are only used for economic hedging purposes and not as speculative investments. However, where derivatives do not meet the hedging criteria, they are classified as \u2018held for trading\u2019 for accounting purposes. At the inception of the hedging transaction, the Group formally designates and documents the economic relationship between eligible hedging instruments and hedged items to which it will apply hedge accounting and the risk management objective and strategy for undertaking the hedge.  The documentation includes identification of the hedging instrument, the hedged item, the nature of the risk being hedged and how the Group will assess whether the hedging relationship meets the hedge effectiveness requirements (including the analysis of sources of hedge ineffectiveness and how the hedge ratio is determined). A hedging relationship qualifies for hedge accounting if it meets all of the following effectiveness requirements: \u2022  There is \u2018an economic relationship\u2019 between the hedged item and the hedging instrument \u2022  The effect of credit risk does not \u2018dominate the value changes\u2019 that result from that economic relationship \u2022  The hedge ratio of the hedging relationship is the same as that resulting from the quantity of the hedged item that the Group actually hedges and the quantity of the hedging instrument that the Group actually uses to hedge that quantity of hedged item. Hedge effectiveness is determined at the inception of the hedge relationship, and through periodic prospective effectiveness assessments, to ensure that an economic relationship exists between the hedged item and hedging instrument. Fair value hedges The Group normally only applies fair value hedge accounting for hedging fixed-interest risk on loans drawn. Changes in the fair value of derivatives that are designated and qualify as fair value hedges are recorded in the income statement, together with any changes in the fair value of the hedged item that are attributable to the hedged risk. The gain or loss relating to the effective and ineffective portion of the derivative is recognized in the income statement within Net finance costs, together with changes in the fair value of the hedged fixed-rate borrowings attributable to interest rate risk. For fair value hedges relating to items carried at amortized cost, any adjustment to carrying value is amortized through the income statement over the remaining term of the hedge using the Effective Interest Rate (EIR) method. The EIR amortization may begin as soon as an adjustment exists and no later than when the hedged item ceases to be adjusted for changes in its fair value attributable to the risk being hedged. If the hedge no longer meets the criteria for hedge accounting, the adjustment to the carrying amount of a hedged item for which the effective interest method is used is amortized to the income statement over the period to maturity using a recalculated effective interest rate. Cash flow hedges A cash flow hedge is applicable for those derivatives qualifying and designated as a hedge of the change in cash flows to be received or paid relating to a recognized asset or liability or a highly probable forecasted transaction. Hedge effectiveness is determined at the inception of the hedge relationship, and through periodic prospective effectiveness assessments to ensure that an economic relationship exists between the hedged item and hedging instrument. The Group enters into hedge relationships where the critical terms of the hedging instrument match exactly with the terms of the hedged item, and thus a qualitative assessment of effectiveness is performed. If changes in circumstances affect the terms of the hedged item such that the critical terms no longer match exactly with the critical terms of the hedging instrument, the Group uses the dollar offset method to assess effectiveness. The effective parts of changes in the fair value of derivative financial instruments are recognized in Other comprehensive income. Ineffectiveness on cash flow hedges is recognized where the cumulative change in the designated component value of the hedging instrument exceeds, on an absolute basis, the change in value of the hedged item attributable to the hedged risk. The gain or loss as a result of ineffectiveness and the interest component that is a result of the time value of money in the valuation of the derivative financial instrument are recognized directly in the statement of income. This also applies to the credit risks on derivatives, unless the cumulative change in the fair value of the hedging instrument is lower than the hedged item. Amounts accumulated in equity are reclassified to profit or loss at the same date as the hedged transaction affects profit or loss or if the hedged transaction is no longer probable. The effects are shown under Finance costs. If the established agreement or the foreseeable transaction that is hedged results in the recognition of a non-financial asset, the accumulated gains or losses previously deferred in equity are reclassified from equity and recognized in the initial recognition of the asset or liability. If a hedging instrument or the hedge relationship is terminated but the hedged transaction is still expected to take place, the accumulated gains or losses will remain in equity at that time and will subsequently be recognized in the statement of income when the previously hedged transaction takes place. Net investment hedges Net investments in foreign operations can be hedged (net investment hedge) by qualifying and designated derivative financial instruments or debt instruments denominated in foreign currency. Hedges of a net investment in a foreign operation, including a hedge of a monetary item that is accounted for as part of the net investment, are accounted for in a way similar to cash flow hedges. Gains or losses on the hedging instrument relating to the effective portion of the hedge are recognized in the translation reserve (equity component) via OCI to the extent that they relate to the hedging of net investments in foreign activities. The gain or loss relating to the ineffective portion is recognized immediately in the income statement. Reversal through the statement of income takes place proportionately if all or part of the underlying position is derecognized. The ineffective part and the interest component are recognized directly in the statement of income.  ",
   "dimensions": {
    "concept": "ifrs-full:DescriptionOfAccountingPolicyForHedgingExplanatory",
    "language": "en",
    "entity": "scheme:724500UL634GFV1KYF10",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
   }
  },
  "pp-value-164-5": {
   "value": "Derivatives that do not qualify for hedge accounting Certain derivative instruments do not qualify for hedge accounting. Changes in the fair value of any derivative instrument that does not qualify for hedge accounting are recognized immediately in the income statement and are included in the Finance costs. This mainly comprises derivatives that are used to hedge the foreign currency risk on intra-group positions. Although the derivatives have not been designated in a hedge relationship, they act as an economic hedge and will offset the underlying transactions when they occur. ",
   "dimensions": {
    "concept": "ifrs-full:DescriptionOfAccountingPolicyForFinancialInstrumentsAtFairValueThroughProfitOrLossExplanatory",
    "language": "en",
    "entity": "scheme:724500UL634GFV1KYF10",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
   }
  },
  "pp-value-168-3": {
   "value": "Note 6.3 Cur<span class=\"_ _3\"/>r<span class=\"_ _7\"/>ency r<span class=\"_ _7\"/>isk The Group is e<span class=\"_ _7\"/>xposed to foreign currency e<span class=\"_ _3\"/>xc<span class=\"_ _7\"/>hange risks. <span class=\"_ _9\"/>T<span class=\"_ _7\"/>hese arise mainly from the US dollar (USD) and Singapore dollar (SGD). F<span class=\"_ _7\"/>oreign currency ex<span class=\"_ _3\"/>change risk arises from future commercial transactions, recogniz<span class=\"_ _7\"/>ed assets and liabilities and net inv<span class=\"_ _7\"/>estments in foreign operations. The primary objective of the currency risk management policy is to protect <span class=\"_ _9\"/>V<span class=\"_ _3\"/>opak against fluctuations in the v<span class=\"_ _7\"/>alue of the assets, liabilities and expected cash flo<span class=\"_ _7\"/>ws caused by c<span class=\"_ _3\"/>hanges in currency e<span class=\"_ _7\"/>xc<span class=\"_ _3\"/>hange rates. A<span class=\"_ _7\"/>ccount is t<span class=\"_ _5\"/>aken of fut<span class=\"_ _3\"/>ure cash flows from inv<span class=\"_ _7\"/>estments and disposals as well as cash flo<span class=\"_ _7\"/>ws from operating and financing activities. Eac<span class=\"_ _3\"/>h quarter<span class=\"_ _3\"/>, currency risks are identified and the hedging strategy is re<span class=\"_ _7\"/>viewed and subsequently presented to the Executiv<span class=\"_ _7\"/>e Board f<span class=\"_ _7\"/>or approv<span class=\"_ _7\"/>al. <span class=\"_ _9\"/>The main deriv<span class=\"_ _7\"/>ative financial instr<span class=\"_ _3\"/>uments used by the Group to hedge cur<span class=\"_ _7\"/>rency risks are for<span class=\"_ _5\"/>ward e<span class=\"_ _7\"/>xc<span class=\"_ _3\"/>hange contracts and cross-currency interest rate swaps (CCIR<span class=\"_ _7\"/>Ss). The table below pro<span class=\"_ _7\"/>vides an ov<span class=\"_ _7\"/>er<span class=\"_ _5\"/>view of the contract<span class=\"_ _7\"/>ual currencies of the interest-bearing loans and short-term borro<span class=\"_ _7\"/>wings (excluding transaction costs): Local cur<span class=\"_ _7\"/>rency <span class=\"_ _15f\"> </span>Euro In millions 2022 <span class=\"_ _1b2\"> </span><span class=\"fc7\">2021 <span class=\"_ _1b2\"> </span></span>2022 <span class=\"_ _1b2\"> </span><span class=\"fc7\">2021 </span>Euro (EUR) <span class=\"_ _ae\"> </span>726.7 <span class=\"_ _18a\"> </span>712.8 <span class=\"_ _e6\"> </span>726.7 <span class=\"_ _18a\"> </span>712.8 US dollar (USD) <span class=\"_ _15f\"> </span>1,385.3 <span class=\"_ _4d\"> </span>1,384.4 <span class=\"_ _4d\"> </span>1,299.4 <span class=\"_ _4d\"> </span>1,222.4 P<span class=\"_ _3\"/>ound sterling (GBP) <span class=\"_ _2ba\"> </span>35.0 <span class=\"_ _45\"> </span>35.0 <span class=\"_ _45\"> </span>39.6 <span class=\"_ _2f\"> </span>41<span class=\"_ _9\"/>.7 Canadian dollar (CAD) <span class=\"_ _2bb\"> </span>25.0 <span class=\"_ _45\"> </span>25.0 <span class=\"_ _3f\"> </span>1<span class=\"_ _3\"/>7<span class=\"_ _1\"/>.3 <span class=\"_ _3f\"> </span>1<span class=\"_ _7\"/>7<span class=\"_ _1\"/>.3 Singapore dollar (SGD) <span class=\"_ _ca\"> </span>200.0 <span class=\"_ _7e\"> </span>214.0 <span class=\"_ _18a\"> </span>1<span class=\"_ _3\"/>39.6 <span class=\"_ _7e\"> </span>139.8 Japanese y<span class=\"_ _7\"/>en (JPY) <span class=\"_ _ca\"> </span>20,000.0 <span class=\"_ _bc\"> </span>20,00<span class=\"_ _5\"/>0.0 <span class=\"_ _19c\"> </span>1<span class=\"_ _7\"/>41<span class=\"_ _9\"/>.0 <span class=\"_ _18a\"> </span>153.5 T<span class=\"_ _8\"/>otal <span class=\"_ _24e\"> </span><span class=\"fc0\">2,363.6 <span class=\"_ _15a\"> </span></span>2,287<span class=\"_ _8\"/>.5 Cur<span class=\"_ _7\"/>r<span class=\"_ _7\"/>ency r<span class=\"_ _7\"/>isk ar<span class=\"_ _7\"/>ising from oper<span class=\"_ _7\"/>ating activities The risks associated with commercial transaction positions arising from operating activities are limited for <span class=\"_ _9\"/>V<span class=\"_ _3\"/>opak, as operating income and operating expenses are, as a r<span class=\"_ _7\"/>ule, largely denominated in the same currency<span class=\"_ _9\"/>. Howe<span class=\"_ _7\"/>ver<span class=\"_ _9\"/>, in some countries (in particular<span class=\"_ _3\"/>, in Latin America), a substantial portion of the income flow is in US dollars whereas the operating expenses are largely denominated in local cur<span class=\"_ _7\"/>rencies. In these countries, the aim is to hedge the transaction risk naturally<span class=\"_ _9\"/>. An<span class=\"_ _7\"/>y material remaining net transaction position can be hedged in full by means of f<span class=\"_ _7\"/>or<span class=\"_ _5\"/>ward ex<span class=\"_ _7\"/>c<span class=\"_ _3\"/>hange contracts.  Intra-gr<span class=\"_ _3\"/>oup financing All intra-group long-term financing is provided b<span class=\"_ _7\"/>y <span class=\"_ _3\"/>V<span class=\"_ _3\"/>opak\u2019<span class=\"_ _9\"/>s Global <span class=\"_ _9\"/>T<span class=\"_ _8\"/>reasur<span class=\"_ _5\"/>y function which acts as an in-house bank. In principle, all intra-group financing is denominated in the functional currency of the local entity concerned. <span class=\"_ _9\"/>This set-up e<span class=\"_ _3\"/>xposes the <span class=\"_ _3\"/>V<span class=\"_ _3\"/>opak Group to foreign currency risk f<span class=\"_ _7\"/>or long-term intra-group positions whic<span class=\"_ _7\"/>h are not part of a net-inv<span class=\"_ _7\"/>estment. F<span class=\"_ _7\"/>ollowing the Group\u2019<span class=\"_ _9\"/>s currency risk management policy this currency risk is fully hedged b<span class=\"_ _3\"/>y means of derivativ<span class=\"_ _7\"/>es where possible. <span class=\"_ _9\"/>T<span class=\"_ _7\"/>he derivativ<span class=\"_ _7\"/>es used to hedge these positions are not included in a hedge relationship and as a result mov<span class=\"_ _7\"/>ements in the fair v<span class=\"_ _7\"/>alue of these derivativ<span class=\"_ _7\"/>es are directly recognized in the income statement. <span class=\"_ _9\"/>T<span class=\"_ _7\"/>he timing of these fair v<span class=\"_ _7\"/>alue mov<span class=\"_ _7\"/>ements coincides with the timing of the recognition of the foreign currency gains/losses on the intra-group loans and receivables denominated in a cur<span class=\"_ _7\"/>rency other than the Euro, whic<span class=\"_ _3\"/>h are eff<span class=\"_ _3\"/>ectively of<span class=\"_ _3\"/>fset. Cur<span class=\"_ _7\"/>r<span class=\"_ _7\"/>ency r<span class=\"_ _7\"/>isk ar<span class=\"_ _7\"/>ising from the in<span class=\"_ _7\"/>vestments in f<span class=\"_ _7\"/>or<span class=\"_ _7\"/>eign operations Net inv<span class=\"_ _7\"/>estment in foreign activities are hedged b<span class=\"_ _7\"/>y loans in the same currency and/or for<span class=\"_ _5\"/>ward ex<span class=\"_ _7\"/>c<span class=\"_ _3\"/>hange contracts, while applying net investment hedge accounting. <span class=\"_ _9\"/>T<span class=\"_ _7\"/>he amount of the hedge is determined mainly by limiting the maximum net e<span class=\"_ _7\"/>xposure per currency taking into account a maximum impact on the total net investment position. Cur<span class=\"_ _7\"/>r<span class=\"_ _7\"/>ency r<span class=\"_ _7\"/>isk ar<span class=\"_ _7\"/>ising from net-debt position Due to the Priv<span class=\"_ _7\"/>ate Placements and other net-debt items in foreign currency<span class=\"_ _9\"/>, the Group is exposed to cur<span class=\"_ _7\"/>rency risk. It is the Group\u2019<span class=\"_ _9\"/>s policy to hedge this exposure to leav<span class=\"_ _7\"/>e the Group with no material risks by making use of f<span class=\"_ _7\"/>oreign currency contracts, cross-currency sw<span class=\"_ _7\"/>aps and natural hedges (net in<span class=\"_ _7\"/>vestment hedges). <span class=\"_ _3\"/>All currency hedges for the years presented were highly ef<span class=\"_ _3\"/>f<span class=\"_ _7\"/>ective.  Cur<span class=\"_ _7\"/>r<span class=\"_ _7\"/>ency r<span class=\"_ _7\"/>isk ar<span class=\"_ _7\"/>ising from lease liabilities The Group is also e<span class=\"_ _7\"/>xposed to currency risk related to lease liabilities in the limited instances where the contract currency is dif<span class=\"_ _3\"/>ferent from the functional cur<span class=\"_ _7\"/>rency of the entit<span class=\"_ _5\"/>y concerned. This primarily concerns joint v<span class=\"_ _7\"/>entures and associates and not subsidiaries. <span class=\"_ _8\"/>These currency risks are normally not hedged.  The ef<span class=\"_ _3\"/>f<span class=\"_ _7\"/>ects of the foreign currency related hedging instr<span class=\"_ _7\"/>uments on the Group\u2019<span class=\"_ _9\"/>s financial position and financial results are shown in the table below: Car<span class=\"_ _7\"/>rying amount Ineff<span class=\"_ _3\"/>ectiveness Change in v<span class=\"_ _3\"/>alue of recogniz<span class=\"_ _7\"/>ed in 1 1 In EUR millions <span class=\"_ _2bc\"> </span><span class=\"fs7 fc7\">Matur<span class=\"_ _3\"/>ity <span class=\"_ _108\"> </span>Assets </span>Liabilities Notional amount <span class=\"_ _d0\"> </span>Hedg<span class=\"_ _7\"/>e ratio hedged it<span class=\"_ _7\"/>em income statement 31 December 2021 2 F<span class=\"_ _7\"/>or<span class=\"_ _5\"/>ward foreign currency contracts &lt; 1 year <span class=\"_ _121\"> </span>\u2013 <span class=\"_ _1be\"> </span>3.9 <span class=\"_ _86\"> </span>189.9 <span class=\"_ _1ce\"> </span>1<span class=\"_ _3\"/>0<span class=\"_ _5\"/>0% T<span class=\"_ _8\"/>otal net investment hedges \u2013 <span class=\"_ _f4\"> </span>3.9 <span class=\"_ _fa\"> </span>189.9 <span class=\"_ _fa\"> </span>1<span class=\"_ _3\"/>0<span class=\"_ _5\"/>0% <span class=\"_ _130\"> </span>- 15.0 <span class=\"_ _121\"> </span>\u2013 3 Cross-currency interest rate swaps 1<span class=\"_ _3\"/>-5 years <span class=\"_ _84\"> </span>35.1 <span class=\"_ _179\"> </span>\u2013 <span class=\"_ _6f\"> </span>458.6 <span class=\"_ _1ce\"> </span>1<span class=\"_ _7\"/>00% 3 Cross-currency interest rate swaps &gt; 5 years <span class=\"_ _178\"> </span>0.5 <span class=\"_ _179\"> </span>\u2013 <span class=\"_ _84\"> </span>66.6 <span class=\"_ _1ce\"> </span>1<span class=\"_ _3\"/>0<span class=\"_ _5\"/>0% T<span class=\"_ _8\"/>otal cash flow hedges 35.6 <span class=\"_ _121\"> </span>\u2013 <span class=\"_ _fa\"> </span>525.2 <span class=\"_ _fa\"> </span>1<span class=\"_ _3\"/>0<span class=\"_ _5\"/>0% <span class=\"_ _1a5\"> </span>- 1.2 <span class=\"_ _173\"> </span>0.4 F<span class=\"_ _7\"/>or<span class=\"_ _5\"/>ward foreign currency contracts <span class=\"_ _cd\"> </span>&lt; 1 year <span class=\"_ _1be\"> </span>8.0 <span class=\"_ _1be\"> </span>3.7 <span class=\"_ _86\"> </span>836.3 <span class=\"_ _17f\"> </span>n/a T<span class=\"_ _8\"/>otal deriv<span class=\"_ _7\"/>atives no hedg<span class=\"_ _7\"/>e accounting 8.0 <span class=\"_ _f4\"> </span>3.7 <span class=\"_ _fa\"> </span>836.3 <span class=\"_ _172\"> </span>n/a<span class=\"_ _178\"> </span>n/a<span class=\"_ _148\"> </span>n/aT<span class=\"_ _8\"/>otal deriv<span class=\"_ _3\"/>ative financial instr<span class=\"_ _7\"/>uments <span class=\"_ _16f\"> </span>43.6 <span class=\"_ _198\"> </span>7<span class=\"_ _1\"/>.6 <span class=\"_ _113\"> </span>1,551.4 <span class=\"_ _130\"> </span>1<span class=\"_ _7\"/>0<span class=\"_ _5\"/>0% <span class=\"_ _130\"> </span>- 16.2 <span class=\"_ _f4\"> </span>0.4 31 December 2022 2 F<span class=\"_ _7\"/>or<span class=\"_ _5\"/>ward foreign currency contracts &lt; 1 year <span class=\"_ _198\"> </span>1<span class=\"_ _9\"/>.0 <span class=\"_ _121\"> </span>\u2013 <span class=\"_ _187\"> </span>130.3 <span class=\"_ _29b\"> </span>1<span class=\"_ _3\"/>0<span class=\"_ _5\"/>0% T<span class=\"_ _8\"/>otal net investment hedges 1<span class=\"_ _7\"/>.0 <span class=\"_ _121\"> </span>\u2013 <span class=\"_ _fa\"> </span>130.3 <span class=\"_ _fa\"> </span>1<span class=\"_ _3\"/>0<span class=\"_ _5\"/>0% <span class=\"_ _197\"> </span>- 3.0 <span class=\"_ _121\"> </span>\u2013 3 Cross-currency interest rate swaps &lt; 1 year <span class=\"_ _3d\"> </span>45.5 <span class=\"_ _179\"> </span>\u2013 <span class=\"_ _86\"> </span>246.1 <span class=\"_ _1ce\"> </span>1<span class=\"_ _3\"/>00% 3 Cross-currency interest rate swaps 1<span class=\"_ _3\"/>-5 years <span class=\"_ _178\"> </span>8.5 <span class=\"_ _137\"> </span>1<span class=\"_ _9\"/>.7 <span class=\"_ _86\"> </span>212.5<span class=\"_ _b6\"> </span>1<span class=\"_ _3\"/>00% 3 Cross-currency interest rate swaps &gt; 5 years <span class=\"_ _178\"> </span>6.6 <span class=\"_ _179\"> </span>\u2013 <span class=\"_ _84\"> </span>66.6 <span class=\"_ _1ce\"> </span>1<span class=\"_ _3\"/>0<span class=\"_ _5\"/>0% T<span class=\"_ _8\"/>otal cash flow hedges 60.6 <span class=\"_ _148\"> </span>1<span class=\"_ _7\"/>.7 <span class=\"_ _fa\"> </span>525.2<span class=\"_ _1ad\"> </span>1<span class=\"_ _3\"/>0<span class=\"_ _5\"/>0% <span class=\"_ _f6\"> </span>15.3 <span class=\"_ _121\"> </span>\u2013 F<span class=\"_ _7\"/>or<span class=\"_ _5\"/>ward foreign currency contracts <span class=\"_ _cd\"> </span>&lt; 1 year <span class=\"_ _162\"> </span>1<span class=\"_ _9\"/>1<span class=\"_ _9\"/>.8 <span class=\"_ _1be\"> </span>4.3 <span class=\"_ _86\"> </span>708.1 <span class=\"_ _17f\"> </span>n/a T<span class=\"_ _8\"/>otal deriv<span class=\"_ _7\"/>atives no hedg<span class=\"_ _7\"/>e accounting 1<span class=\"_ _9\"/>1.8 <span class=\"_ _173\"> </span>4.3 <span class=\"_ _29b\"> </span>708.1 <span class=\"_ _172\"> </span>n/a<span class=\"_ _178\"> </span>n/a<span class=\"_ _148\"> </span>n/a4 T<span class=\"_ _8\"/>otal deriv<span class=\"_ _3\"/>ative financial instr<span class=\"_ _7\"/>uments 73.4 <span class=\"_ _f4\"> </span>6.0 <span class=\"_ _81\"> </span>1,363.6<span class=\"_ _1ad\"> </span>1<span class=\"_ _3\"/>0<span class=\"_ _5\"/>0% <span class=\"_ _1a5\"> </span>12.3 <span class=\"_ _121\"> </span>\u2013 1 <span class=\"_ _b3\"> </span>At fair v<span class=\"_ _7\"/>alue. 2 <span class=\"_ _b3\"> </span>F<span class=\"_ _7\"/>oreign currency for<span class=\"_ _5\"/>wards accounted f<span class=\"_ _7\"/>or as hedges on net investments. 3 <span class=\"_ _b3\"> </span>Cross currency interest swaps accounted f<span class=\"_ _7\"/>or as cash flow hedges are used to hedge currency (2022: USD 468 million and JPY 20 billion; 2021: USD 468 million and JPY 20 billion) on fix<span class=\"_ _7\"/>ed debt denominated in foreign currency<span class=\"_ _3\"/>. 4 <span class=\"_ _b3\"> </span>This is the inef<span class=\"_ _3\"/>fectiveness resulting from the FX as w<span class=\"_ _7\"/>ell as the interest part of the hedge. Of the total amount of interest-bearing debt denominated in a foreign currency per y<span class=\"_ _7\"/>ear<span class=\"_ _9\"/>-end 2022, 1<span class=\"_ _3\"/>00% (2021: 1<span class=\"_ _3\"/>0<span class=\"_ _5\"/>0%) was hedged via deriv<span class=\"_ _7\"/>atives f<span class=\"_ _7\"/>or whic<span class=\"_ _7\"/>h either cash flow hedge accounting, net investment hedge accounting or no hedge accounting w<span class=\"_ _7\"/>as applied.   At year<span class=\"_ _9\"/>-end 2022, 36% (2021: 36%) of the currency risk w<span class=\"_ _3\"/>as hedged via cash flow hedges. The total nominal amount of net inv<span class=\"_ _7\"/>estments (hedged items) included in a net inv<span class=\"_ _7\"/>estment hedge relationship amounted to EUR 792.9 million as at year<span class=\"_ _9\"/>-end 2022 (2021: EUR 889.5 million). Of this amount EUR 663.6 million (2021: EUR 695.3 million) was hedged via f<span class=\"_ _7\"/>oreign currency interest-bearing debt and EUR 1<span class=\"_ _3\"/>29.3 million (2021: EUR 1<span class=\"_ _3\"/>94.2 million) via derivatives. <span class=\"_ _7\"/>Also taking into account the investment in entities, in whic<span class=\"_ _3\"/>h functional currency is EUR, the tot<span class=\"_ _5\"/>al unhedged position amounted to EUR 1,821<span class=\"_ _8\"/>.7 million or 61% (2021: EUR 1,484.7 million or 47%). Ref<span class=\"_ _3\"/>erence is made to note 6.2 for a reconciliation between the amounts presented in the table above and the amounts recogniz<span class=\"_ _7\"/>ed in the Consolidated Statement of Financial P<span class=\"_ _7\"/>osition. F<span class=\"_ _7\"/>or all cash flow hedges related to currency and interest rate risk, a loss of  EUR 32.2 million, net of tax was recognized in equity via OCI up to 31 December 2022 (2021: EUR 94.9 million (loss)) (see note 5.2). Cur<span class=\"_ _7\"/>r<span class=\"_ _7\"/>ency translation r<span class=\"_ _3\"/>isk F<span class=\"_ _3\"/>urthermore, a foreign currency translation risk results from in<span class=\"_ _7\"/>vestments in f<span class=\"_ _7\"/>oreign operations of whic<span class=\"_ _3\"/>h the net assets are exposed to foreign currency translation risk. <span class=\"_ _8\"/>The Group result is also impacted by translating the results of these f<span class=\"_ _7\"/>oreign currency operations. This non-economic cur<span class=\"_ _7\"/>rency risk is caused by the accounting conv<span class=\"_ _3\"/>entions applied for translating the net assets and results of foreign operations to the presentation currency of the Group, whic<span class=\"_ _3\"/>h is the euro. For more inf<span class=\"_ _7\"/>ormation, ref<span class=\"_ _7\"/>erence is made to note 2.8. Sensitivity of exc<span class=\"_ _7\"/>hange r<span class=\"_ _7\"/>ate c<span class=\"_ _7\"/>hanges of financial instr<span class=\"_ _3\"/>uments on net profit and equity The v<span class=\"_ _7\"/>alue of debt and hedging instruments denominated in cur<span class=\"_ _7\"/>rencies other than the functional currency of the entities holding them is subject to e<span class=\"_ _7\"/>xc<span class=\"_ _3\"/>hange rate movements. <span class=\"_ _8\"/>The sensitivity analysis for the main cur<span class=\"_ _7\"/>rencies and their positions at 31 December 2022 and 31 December 2021 shows ho<span class=\"_ _7\"/>w c<span class=\"_ _3\"/>hanges in exc<span class=\"_ _3\"/>hange rates by 1<span class=\"_ _9\"/>0% aff<span class=\"_ _3\"/>ect net profit and equity<span class=\"_ _3\"/>, while t<span class=\"_ _5\"/>aking into account the ef<span class=\"_ _3\"/>fect of the use of deriv<span class=\"_ _7\"/>atives and the hedge accounting applied. 1 1 Depreciation Appreciation In EUR millions <span class=\"_ _91\"> </span>Net profit <span class=\"_ _228\"> </span>Equity <span class=\"_ _76\"> </span><span class=\"fc7\">Net profit <span class=\"_ _228\"> </span>Equity </span>31 December 2021 USD <span class=\"_ _1a1\"> </span>- 1<span class=\"_ _8\"/>.2 <span class=\"_ _18a\"> </span>- 32.7 <span class=\"_ _113\"> </span>1<span class=\"_ _9\"/>.5 <span class=\"_ _45\"> </span>40.0 SGD <span class=\"_ _23e\"> </span>- 0.5 <span class=\"_ _18a\"> </span>- 30.7 <span class=\"_ _1bc\"> </span>0.7 <span class=\"_ _108\"> </span>37<span class=\"_ _1\"/>.5 CNY <span class=\"_ _23d\"> </span>- 1<span class=\"_ _9\"/>.3 <span class=\"_ _e6\"> </span>- 30.4 <span class=\"_ _8b\"> </span>1<span class=\"_ _9\"/>.5 <span class=\"_ _88\"> </span>37<span class=\"_ _1\"/>.1 BRL <span class=\"_ _1a1\"> </span>- 0.2 <span class=\"_ _108\"> </span>- 7<span class=\"_ _1\"/>.9 <span class=\"_ _db\"> </span>0.3 <span class=\"_ _db\"> </span>9.6 JPY <span class=\"_ _9e\"> </span>\u2013 <span class=\"_ _2f\"> </span>- 1<span class=\"_ _9\"/>.0 <span class=\"_ _130\"> </span>\u2013 <span class=\"_ _113\"> </span>1<span class=\"_ _9\"/>.3 T<span class=\"_ _8\"/>otal eff<span class=\"_ _7\"/>ect <span class=\"_ _cd\"> </span><span class=\"fc0\">- 3.2 <span class=\"_ _228\"> </span>- 102.7 <span class=\"_ _41\"> </span></span>4.0 <span class=\"_ _53\"> </span>125.5 31 December 2022 USD <span class=\"_ _23e\"> </span>- 2.3 <span class=\"_ _18a\"> </span>- 38.8 <span class=\"_ _1bc\"> </span>2.8 <span class=\"_ _108\"> </span>47<span class=\"_ _1\"/>.5 SGD <span class=\"_ _2bd\"> </span>1<span class=\"_ _9\"/>.5 <span class=\"_ _e6\"> </span>- 38.6 <span class=\"_ _2f\"> </span>- 1<span class=\"_ _9\"/>.8 <span class=\"_ _88\"> </span>47<span class=\"_ _8\"/>.2 CNY <span class=\"_ _23d\"> </span>- 1<span class=\"_ _9\"/>.0 <span class=\"_ _e6\"> </span>- 28.2 <span class=\"_ _8b\"> </span>1<span class=\"_ _9\"/>.3 <span class=\"_ _45\"> </span>34.4 BRL <span class=\"_ _1a1\"> </span>- 0.1 <span class=\"_ _45\"> </span>- 9.4 <span class=\"_ _db\"> </span>0.1 <span class=\"_ _3f\"> </span>1<span class=\"_ _9\"/>1<span class=\"_ _9\"/>.5 JPY <span class=\"_ _9e\"> </span>\u2013 <span class=\"_ _45\"> </span>- 0.5 <span class=\"_ _130\"> </span>\u2013 <span class=\"_ _db\"> </span>0.6 T<span class=\"_ _8\"/>otal eff<span class=\"_ _7\"/>ect <span class=\"_ _145\"> </span>- 1<span class=\"_ _7\"/>.9 <span class=\"_ _e1\"> </span>- 1<span class=\"_ _3\"/>15.5 <span class=\"_ _cb\"> </span><span class=\"fcb\">2.4 <span class=\"_ _131\"> </span>141<span class=\"_ _7\"/>.2 </span>1 <span class=\"_ _b3\"> </span>F<span class=\"_ _7\"/>oreign currency against the euro. Note 6.4 Int<span class=\"_ _3\"/>erest r<span class=\"_ _7\"/>ate r<span class=\"_ _3\"/>isk V<span class=\"_ _3\"/>opak\u2019<span class=\"_ _9\"/>s policy on interest rate risks aims to control the interest expenses resulting from fluctuations in the financial mark<span class=\"_ _7\"/>et interest rates, to protect the projected gross result of V<span class=\"_ _3\"/>opak and taking into account the long-term profile of the company<span class=\"_ _9\"/>. Fixed-rate debt exposes the Group to fair v<span class=\"_ _7\"/>alue risk. Floating-rate debt exposes the Group to cash flo<span class=\"_ _7\"/>w risk. <span class=\"_ _9\"/>T<span class=\"_ _7\"/>he specification of the total interest-bearing loans is disclosed in note 5.5. It is <span class=\"_ _3\"/>V<span class=\"_ _3\"/>opak\u2019<span class=\"_ _9\"/>s long-termpolicy to manage its interest exposure to an acceptable lev<span class=\"_ _7\"/>el of fixed/floating to optimiz<span class=\"_ _7\"/>e net finance expenses and reduce v<span class=\"_ _7\"/>olatility on the net result within the bandwidth of the interest related financial cov<span class=\"_ _7\"/>enants.  Interest rate swaps ma<span class=\"_ _7\"/>y be used in order to minimize the interest rate risks associated with the financing of the Group and at the same time optimize the net interest costs. Interest raterisks are identified and possible hedges considered when obtaining or providing new financing.  There w<span class=\"_ _7\"/>ere no interest rate derivativ<span class=\"_ _7\"/>es present in the years presented. As at 31 December 2022, taking into account the interest rate swaps, 70% (2021: 69%) of the total interest-bearing loans and bank loans of EUR 2,358.5 million (2021: EUR 2,284.6 million) was financed at a fix<span class=\"_ _7\"/>ed interest rate with remaining terms of up to 1<span class=\"_ _7\"/>8 years (2021: 1<span class=\"_ _3\"/>8 years). The a<span class=\"_ _7\"/>verage fix<span class=\"_ _7\"/>ed interest and the av<span class=\"_ _7\"/>erage floating interest on the interest-bearing loans and bank loans at 31 December 2022 were 3.9% (2021: 3.8%) and 3.1% (2021: 1<span class=\"_ _1\"/>.3%) respectively<span class=\"_ _9\"/>. <span class=\"_ _9\"/>The f<span class=\"_ _3\"/>ollowing statement provides insight into the interest repricing calendar for the interest-bearing loans and the bank loans at the statement of the financial position date, while taking into account the eff<span class=\"_ _3\"/>ects of the derivativ<span class=\"_ _7\"/>es that may be present and the hedge accounting applied. All interest-bearing loans with a floating interest rate are re-priced within one year<span class=\"_ _9\"/>. 31 December 2022 <span class=\"_ _182\"> </span>31 December 2021 In EUR millions <span class=\"_ _11f\"> </span>Floating <span class=\"_ _1a2\"> </span>Fixed <span class=\"_ _ad\"> </span>T<span class=\"_ _9\"/>otal <span class=\"_ _10b\"> </span><span class=\"fc7\">Floating <span class=\"_ _11\"> </span>Fixed <span class=\"_ _ad\"> </span>T<span class=\"_ _9\"/>otal </span>&lt; 1 year <span class=\"_ _134\"> </span>- 416.5 <span class=\"_ _1a\"> </span>- 279.3 <span class=\"_ _9d\"> </span>- 695.8 <span class=\"_ _1a\"> </span>- 462.0 <span class=\"_ _bd\"> </span>- 0.3 <span class=\"_ _1a\"> </span>- 462.3 1<span class=\"_ _3\"/>-2 years <span class=\"_ _28a\"> </span>\u2013 <span class=\"_ _16\"> </span>- 21<span class=\"_ _9\"/>1<span class=\"_ _9\"/>.9 <span class=\"_ _b2\"> </span>- 21<span class=\"_ _9\"/>1<span class=\"_ _9\"/>.9 <span class=\"_ _9d\"> </span>- 239.8 <span class=\"_ _1a\"> </span>- 265.2 <span class=\"_ _9d\"> </span>- 505.0 2-3 years <span class=\"_ _ae\"> </span>\u2013 <span class=\"_ _9d\"> </span>- 272.3 <span class=\"_ _9d\"> </span>- 272.3 <span class=\"_ _4d\"> </span>\u2013 <span class=\"_ _9d\"> </span>- 203.3 <span class=\"_ _1a\"> </span>- 203.3 3-4 years <span class=\"_ _ae\"> </span>\u2013 <span class=\"_ _22c\"> </span>- 69.5 <span class=\"_ _ad\"> </span>- 69.5 <span class=\"_ _228\"> </span>\u2013 <span class=\"_ _9d\"> </span>- 256.9 <span class=\"_ _1a\"> </span>- 256.9 4-5 years <span class=\"_ _ae\"> </span>\u2013 <span class=\"_ _b2\"> </span>- 557<span class=\"_ _1\"/>.8 <span class=\"_ _b2\"> </span>- 557<span class=\"_ _d\"/>.8 <span class=\"_ _228\"> </span>\u2013 <span class=\"_ _22c\"> </span>- 66.0 <span class=\"_ _ad\"> </span>- 66.0 &gt; 5 years <span class=\"_ _19d\"> </span>\u2013 <span class=\"_ _233\"> </span>- 551<span class=\"_ _9\"/>.2 <span class=\"_ _233\"> </span>- 551<span class=\"_ _9\"/>.2 <span class=\"_ _4d\"> </span>\u2013 <span class=\"_ _233\"> </span>- 791<span class=\"_ _9\"/>.1 <span class=\"_ _1b\"> </span>- 791<span class=\"_ _9\"/>.1 T<span class=\"_ _8\"/>otal <span class=\"_ _c8\"> </span><span class=\"fc0\">- 416.5 <span class=\"_ _12\"> </span>- 1,942.0 <span class=\"_ _13\"> </span>- 2,358.5 <span class=\"_ _120\"> </span></span>- 70<span class=\"_ _7\"/>1<span class=\"_ _7\"/>.8 <span class=\"_ _13\"> </span>- 1,582.8 <span class=\"_ _12\"> </span>- 2,284.6 Sensitivity to c<span class=\"_ _7\"/>hanges in mar<span class=\"_ _3\"/>k<span class=\"_ _7\"/>et inter<span class=\"_ _7\"/>est rat<span class=\"_ _7\"/>es  The sensitivity analysis sho<span class=\"_ _7\"/>ws how c<span class=\"_ _3\"/>hanges in market interest rates af<span class=\"_ _3\"/>fect net profit and equity<span class=\"_ _3\"/>, while t<span class=\"_ _5\"/>aking into account the ef<span class=\"_ _3\"/>fects of the deriv<span class=\"_ _7\"/>atives and the hedge accounting applied and assuming that all other variables remain constant. Due to the volatility of market interest rates, <span class=\"_ _3\"/>V<span class=\"_ _9\"/>opak has used a fixed percentage of 25% as a reasonable possible change at year<span class=\"_ _9\"/>-end 2022 and y<span class=\"_ _7\"/>ear<span class=\"_ _9\"/>-end 2021<span class=\"_ _8\"/>. Increase 25% <span class=\"_ _d9\"> </span>Decrease 25% Closing level 1 1 In EUR millions 3-month <span class=\"_ _1e\"> </span><span class=\"fc0\">Net profit <span class=\"_ _fd\"> </span>Equity </span>Net profit <span class=\"_ _fd\"> </span>Equity 31 December 2021 EUR <span class=\"_ _68\"> </span>-0.57% <span class=\"_ _20\"> </span>- 1<span class=\"_ _9\"/>.4 <span class=\"_ _d9\"> </span>1<span class=\"_ _9\"/>.0 <span class=\"_ _bd\"> </span>- 0.4 <span class=\"_ _c2\"> </span>- 1<span class=\"_ _8\"/>.0 USD <span class=\"_ _9e\"> </span>0.21% <span class=\"_ _228\"> </span>\u2013 <span class=\"_ _c9\"> </span>2.3 <span class=\"_ _228\"> </span>\u2013 <span class=\"_ _bd\"> </span>- 2.4 SGD <span class=\"_ _9e\"> </span>0.36% <span class=\"_ _bd\"> </span>- 0.5 <span class=\"_ _c9\"> </span>0.1 <span class=\"_ _c9\"> </span>0.5 <span class=\"_ _bd\"> </span>- 0.1 JPY <span class=\"_ _1e2\"> </span>-0.08% <span class=\"_ _228\"> </span>\u2013 <span class=\"_ _4d\"> </span>\u2013 <span class=\"_ _228\"> </span>\u2013 <span class=\"_ _228\"> </span>\u2013 T<span class=\"_ _8\"/>otal eff<span class=\"_ _7\"/>ect <span class=\"_ _1c5\"> </span>- 1<span class=\"_ _7\"/>.9 <span class=\"_ _ea\"> </span>3.4 <span class=\"_ _ea\"> </span><span class=\"fcb\">0.1 <span class=\"_ _76\"> </span>- 3.5 </span>31 December 2022 EUR <span class=\"_ _1c8\"> </span>2.13% <span class=\"_ _f7\"> </span>- 7<span class=\"_ _1\"/>.6 <span class=\"_ _fb\"> </span>1<span class=\"_ _9\"/>1<span class=\"_ _9\"/>.2 <span class=\"_ _95\"> </span>7<span class=\"_ _1\"/>.6 <span class=\"_ _3a\"> </span>- 1<span class=\"_ _9\"/>1<span class=\"_ _9\"/>.6 USD <span class=\"_ _9e\"> </span>4.77% <span class=\"_ _95\"> </span>1<span class=\"_ _8\"/>.4 <span class=\"_ _c9\"> </span>3.4 <span class=\"_ _c2\"> </span>- 1<span class=\"_ _9\"/>.4 <span class=\"_ _bd\"> </span>- 3.7 SGD <span class=\"_ _9e\"> </span>4.21% <span class=\"_ _c2\"> </span>- 1<span class=\"_ _9\"/>.8 <span class=\"_ _c9\"> </span>0.1 <span class=\"_ _d9\"> </span>1<span class=\"_ _9\"/>.8 <span class=\"_ _bd\"> </span>- 0.1 JPY <span class=\"_ _1e2\"> </span>-0.03% <span class=\"_ _228\"> </span>\u2013 <span class=\"_ _bd\"> </span>- 0.1 <span class=\"_ _4d\"> </span>\u2013 <span class=\"_ _c9\"> </span>0.1 T<span class=\"_ _8\"/>otal eff<span class=\"_ _7\"/>ect <span class=\"_ _114\"> </span><span class=\"fc0\">- 8.0 <span class=\"_ _ce\"> </span>14.6 <span class=\"_ _ea\"> </span></span>8.0 <span class=\"_ _11\"> </span>- 15.3 1 <span class=\"_ _b3\"> </span>Re<span class=\"_ _7\"/>valuation reser<span class=\"_ _5\"/>ve deriv<span class=\"_ _7\"/>atives through Other comprehensiv<span class=\"_ _7\"/>e income. Note 6.5 Equity secur<span class=\"_ _3\"/>ities pr<span class=\"_ _3\"/>ice risk A<span class=\"_ _1e\"> </span><span class=\"ff3 fs9\">Accounting policies </span>Equity investments that are not classified as a subsidiary<span class=\"_ _3\"/>, joint venture or associate are measured at fair v<span class=\"_ _7\"/>alue (lev<span class=\"_ _7\"/>el 3). Gains and losses on these inv<span class=\"_ _7\"/>estments will either be recorded in the Income statement or Other comprehensive income, depending on whether the Group has made an irre<span class=\"_ _7\"/>vocable election at the time of initial recognition to account for the equity investment at f<span class=\"_ _7\"/>air value through other comprehensiv<span class=\"_ _7\"/>e income. <span class=\"_ _9\"/>T<span class=\"_ _7\"/>he fair value is based on the discounted cash flow approac<span class=\"_ _3\"/>h or recent market transaction. Where the Group has elected to present fair v<span class=\"_ _7\"/>alue gains and losses on equity investments in OCI, there is no subsequent reclassification of fair v<span class=\"_ _7\"/>alue gains and losses to the income statement following the div<span class=\"_ _7\"/>estment of equity investment. Dividends from equity inv<span class=\"_ _7\"/>estments are recognized in the income statement as dividend income, whic<span class=\"_ _3\"/>h is classified as Other income, when the Group\u2019<span class=\"_ _9\"/>s right to receive pa<span class=\"_ _7\"/>yments is est<span class=\"_ _5\"/>ablished. The Group has 1<span class=\"_ _3\"/>9 equity investments (2021: 1<span class=\"_ _3\"/>5) for a total amount of EUR 94.0 million at year<span class=\"_ _9\"/>-end 2022 (2021: EUR 83.6 million), of whic<span class=\"_ _3\"/>h the inv<span class=\"_ _7\"/>estment in SabT<span class=\"_ _9\"/>ank (Saudi Arabia) and Hydrogenious are the largest. Our 1<span class=\"_ _9\"/>0<span class=\"_ _5\"/>0% in<span class=\"_ _7\"/>vestment in <span class=\"_ _9\"/>V<span class=\"_ _3\"/>enezuela is also classified as an equity investment. <span class=\"_ _8\"/>The other equity inv<span class=\"_ _7\"/>estments are investments held b<span class=\"_ _3\"/>y <span class=\"_ _3\"/>V<span class=\"_ _3\"/>opak <span class=\"_ _3\"/>V<span class=\"_ _3\"/>entures B<span class=\"_ _7\"/>.V<span class=\"_ _8\"/>.The Group elected to measure all in<span class=\"_ _7\"/>vestments at f<span class=\"_ _7\"/>air value through other comprehensiv<span class=\"_ _7\"/>e income as these entities are part of the <span class=\"_ _3\"/>V<span class=\"_ _9\"/>opak net<span class=\"_ _5\"/>work, pro<span class=\"_ _7\"/>vide storage and handling (relatedser<span class=\"_ _5\"/>vices) and are not held for trading. Deconsolidation <span class=\"_ _21\"/>of V<span class=\"_ _3\"/>opak V<span class=\"_ _9\"/>enezuela In 20<span class=\"_ _3\"/>1<span class=\"_ _7\"/>8, <span class=\"_ _3\"/>V<span class=\"_ _3\"/>opak deconsolidated its wholly-o<span class=\"_ _7\"/>wned terminal in <span class=\"_ _3\"/>V<span class=\"_ _3\"/>enezuela, reflecting the conclusion that the Group no longer had control from an accounting perspective. It w<span class=\"_ _7\"/>as obser<span class=\"_ _5\"/>ved that the economic, legal, social and political en<span class=\"_ _7\"/>vironment in whic<span class=\"_ _3\"/>h the terminal operates was continuously deteriorating. Strict currency controls continued to be applicable and inflation ex<span class=\"_ _7\"/>ceeded one million percent in 20<span class=\"_ _3\"/>1<span class=\"_ _7\"/>8.     V<span class=\"_ _3\"/>opak continues to monitor the situation and will periodically assess whether f<span class=\"_ _3\"/>acts and circumstances have c<span class=\"_ _3\"/>hanged and whether control has been regained ov<span class=\"_ _7\"/>er the entity in V<span class=\"_ _3\"/>enezuela. <span class=\"_ _9\"/>V<span class=\"_ _3\"/>opak remains the 1<span class=\"_ _3\"/>0<span class=\"_ _5\"/>0% shareholder in the entity and continues to operate the company in line with <span class=\"_ _9\"/>V<span class=\"_ _3\"/>opak\u2019<span class=\"_ _9\"/>s st<span class=\"_ _5\"/>andards. F<span class=\"_ _7\"/>or more information on the equity inv<span class=\"_ _7\"/>estments, other than inv<span class=\"_ _7\"/>estments in subsidiaries, joint vent<span class=\"_ _7\"/>ures and associates, ref<span class=\"_ _7\"/>erence is made to note 9.6. ",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfMarketRiskExplanatory",
    "language": "en",
    "entity": "scheme:724500UL634GFV1KYF10",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
   }
  },
  "pp-value-181-3": {
   "value": "Note 6.7 Liquidity r<span class=\"_ _3\"/>isk The primary objective of liquidity management is providing suf<span class=\"_ _7\"/>ficient cash and cash equivalents at all times to enable <span class=\"_ _9\"/>V<span class=\"_ _3\"/>opak to meet its payment obligations. Cash management The liquidity requirements are monitored continuously and funding is planned in suc<span class=\"_ _3\"/>h a way as to av<span class=\"_ _7\"/>oid ex<span class=\"_ _7\"/>cessive short-term financing needs. <span class=\"_ _8\"/>The long-term liquidity risk is assessed prior to ev<span class=\"_ _7\"/>er<span class=\"_ _5\"/>y major inv<span class=\"_ _7\"/>estment obligation. A<span class=\"_ _7\"/>ctive cash management is a daily responsibility and the liquidity requirements are identified eac<span class=\"_ _7\"/>h quarter based on thorough scenario planning. Surplus cash is invested, if a<span class=\"_ _7\"/>vailable, in interest-bearing current accounts and deposit accounts. V<span class=\"_ _3\"/>opak\u2019<span class=\"_ _9\"/>s Global <span class=\"_ _9\"/>T<span class=\"_ _8\"/>reasur<span class=\"_ _5\"/>y function acts as an in-house bank that allocates funds internally<span class=\"_ _3\"/>, whic<span class=\"_ _3\"/>h are raised centrally within the Group. Surplus cash held by the operating entities ov<span class=\"_ _7\"/>er and abov<span class=\"_ _7\"/>e balances required for w<span class=\"_ _7\"/>orking capital management is transferred to Global T<span class=\"_ _9\"/>reasur<span class=\"_ _5\"/>y and operating companies are normally funded b<span class=\"_ _7\"/>y a combination of equit<span class=\"_ _5\"/>y and inter<span class=\"_ _9\"/>-company loans. Ex<span class=\"_ _7\"/>ceptions to this are the bank loan of EUR 1<span class=\"_ _7\"/>39.6 million (SGD 200.0 million), drawdo<span class=\"_ _7\"/>wns under the rev<span class=\"_ _7\"/>olving credit facilities of <span class=\"_ _9\"/>V<span class=\"_ _3\"/>opak <span class=\"_ _9\"/>T<span class=\"_ _9\"/>erminals Singapore Pte. Ltd., whic<span class=\"_ _3\"/>h have been raised locally<span class=\"_ _9\"/>. Joint v<span class=\"_ _7\"/>entures and associates, where possible, are normally funded optimally with e<span class=\"_ _7\"/>xternal debt on a non-recourse basis for <span class=\"_ _9\"/>V<span class=\"_ _3\"/>opak, taking into account local circumst<span class=\"_ _5\"/>ances and contractual obligations. R<span class=\"_ _7\"/>ef<span class=\"_ _7\"/>erence is made to note 9.8 for more inf<span class=\"_ _7\"/>ormation with regard to commitments and guarantees provided to joint v<span class=\"_ _7\"/>entures and associates. A<span class=\"_ _3\"/>v<span class=\"_ _7\"/>ailable credit f<span class=\"_ _3\"/>acilities At year<span class=\"_ _9\"/>-end 2022, the compan<span class=\"_ _7\"/>y had t<span class=\"_ _5\"/>w<span class=\"_ _7\"/>o rev<span class=\"_ _7\"/>olving credit facilities (RCFs) whic<span class=\"_ _3\"/>h provide flexibility to finance <span class=\"_ _3\"/>V<span class=\"_ _9\"/>opak\u00b4s long-term growth strategy<span class=\"_ _3\"/>.  31 December 2022 <span class=\"_ _1bc\"> </span>31 December 2021 T<span class=\"_ _8\"/>otal T<span class=\"_ _8\"/>otal 1 1 In EUR millions f<span class=\"_ _7\"/>acility Used <span class=\"_ _fd\"> </span>Unused f<span class=\"_ _7\"/>acility Used <span class=\"_ _fd\"> </span>Unused Ro<span class=\"_ _7\"/>yal <span class=\"_ _3\"/>V<span class=\"_ _3\"/>opak - Rev<span class=\"_ _7\"/>olving credit facility <span class=\"_ _ae\"> </span>1,000.0 <span class=\"_ _17\"> </span>300.0 <span class=\"_ _ad\"> </span>700.0 <span class=\"_ _116\"> </span>1,0<span class=\"_ _5\"/>00.0 <span class=\"_ _11\"> </span>1<span class=\"_ _3\"/>00.0 <span class=\"_ _ad\"> </span>90<span class=\"_ _5\"/>0.0 VTS - Re<span class=\"_ _7\"/>volving credit facility <span class=\"_ _51\"> </span>69.8 <span class=\"_ _95\"> </span>\u2013 <span class=\"_ _bd\"> </span>69.8 <span class=\"_ _19a\"> </span>65.3 <span class=\"_ _fb\"> </span>9.1 <span class=\"_ _19a\"> </span>56.2 T<span class=\"_ _8\"/>otal committed f<span class=\"_ _3\"/>acilities 1,069.8 <span class=\"_ _8f\"> </span>30<span class=\"_ _5\"/>0.0 <span class=\"_ _1a2\"> </span>769.8 <span class=\"_ _147\"> </span>1,065.3 <span class=\"_ _1b\"> </span>1<span class=\"_ _7\"/>09.1 <span class=\"_ _1a2\"> </span>956.2 Ro<span class=\"_ _7\"/>yal <span class=\"_ _3\"/>V<span class=\"_ _3\"/>opak - Bank loan facilities <span class=\"_ _c9\"> </span>465.0 <span class=\"_ _1a\"> </span>27<span class=\"_ _3\"/>6.0 <span class=\"_ _22c\"> </span>189.0 <span class=\"_ _ad\"> </span>595.0 <span class=\"_ _b2\"> </span>462.0 <span class=\"_ _155\"> </span>1<span class=\"_ _3\"/>33.0 T<span class=\"_ _8\"/>otal uncommitted f<span class=\"_ _3\"/>acilities 465.0 <span class=\"_ _116\"> </span>276.0 <span class=\"_ _1a2\"> </span>189.0 <span class=\"_ _1a2\"> </span>595.0 <span class=\"_ _19\"> </span>462.0 <span class=\"_ _1a2\"> </span>133.0 T<span class=\"_ _8\"/>otal facilities <span class=\"_ _14a\"> </span><span class=\"fc0\">1,534.8 <span class=\"_ _116\"> </span>576.0 <span class=\"_ _1a2\"> </span>958.8 <span class=\"_ _147\"> </span></span>1,660.3 <span class=\"_ _1b\"> </span>571.1 <span class=\"_ _10\"> </span>1,089.2 1 <span class=\"_ _b3\"> </span>At nominal value. On 30 June 2022, <span class=\"_ _9\"/>V<span class=\"_ _3\"/>opak successfully renew<span class=\"_ _7\"/>ed its EUR 1 billion senior unsecured   rev<span class=\"_ _7\"/>olving credit facility (RCF) with a syndicate of 1<span class=\"_ _3\"/>2 international relationship banks.   This ne<span class=\"_ _7\"/>w facility replaces the previous R<span class=\"_ _7\"/>CF of EUR 1 billion, whic<span class=\"_ _7\"/>h has been in place   since June 20<span class=\"_ _9\"/>1<span class=\"_ _7\"/>6. <span class=\"_ _9\"/>T<span class=\"_ _7\"/>he new R<span class=\"_ _7\"/>CF is linked to our performance on three k<span class=\"_ _3\"/>ey topics from   V<span class=\"_ _3\"/>opak\u2019<span class=\"_ _9\"/>s Sustainabilit<span class=\"_ _5\"/>y Roadmap: our saf<span class=\"_ _3\"/>et<span class=\"_ _5\"/>y performance, gender div<span class=\"_ _7\"/>ersity in senior management and the reduction of our greenhouse gas emissions. <span class=\"_ _9\"/>T<span class=\"_ _7\"/>he new R<span class=\"_ _7\"/>CF has an initial maturity of five y<span class=\"_ _7\"/>ears with two one year e<span class=\"_ _7\"/>xtension options. <span class=\"_ _9\"/>T<span class=\"_ _7\"/>he new syndicate of banks consists of: ABN <span class=\"_ _3\"/>AMRO Bank, BB<span class=\"_ _3\"/>V<span class=\"_ _3\"/>A, BNP Paribas, CIBC, Citibank, DBS B<span class=\"_ _7\"/>ank, DNB, ICBC, ING, JP Morgan, Rabobank and SMBC B<span class=\"_ _7\"/>ank. ABN <span class=\"_ _7\"/>AMRO and ING acted as coordinating bookrunners and sustainability coordinators on the transaction. <span class=\"_ _9\"/>This f<span class=\"_ _7\"/>acility was utilized f<span class=\"_ _7\"/>or an amount of EUR 300 million at year<span class=\"_ _9\"/>-end 2022.  At 31 December 2022, the Group also had unused lines of credit of EUR 1<span class=\"_ _7\"/>89.0 million (2021: EUR 1<span class=\"_ _3\"/>33.0 million) that are available to meet short-term liquidity needs. <span class=\"_ _9\"/>T<span class=\"_ _7\"/>he Group can be requested to repay these short-term loans on demand. <span class=\"_ _8\"/>There are no significant restrictions on the use of these facilities. Matur<span class=\"_ _3\"/>ity analysis The graph belo<span class=\"_ _7\"/>w provides an o<span class=\"_ _7\"/>verview of the repayment profile of the Group\u2019<span class=\"_ _9\"/>s  interest-bearing loans (ex<span class=\"_ _7\"/>cluding lease liabilities) based on the contractual undiscounted  cash flows. F<span class=\"_ _3\"/>or the maturity ov<span class=\"_ _7\"/>er<span class=\"_ _5\"/>view of the lease liabilities, ref<span class=\"_ _3\"/>erence is made to note 3.4. The table below analy<span class=\"_ _7\"/>ses the Group\u2019<span class=\"_ _9\"/>s non-derivative financial liabilities and net-set<span class=\"_ _9\"/>tled derivativ<span class=\"_ _7\"/>e financial liabilities into relev<span class=\"_ _7\"/>ant maturity categories based on the remaining period at the end of the reporting period to the contractual mat<span class=\"_ _3\"/>urit<span class=\"_ _5\"/>y date. Derivativ<span class=\"_ _7\"/>e financial instruments are included in the analy<span class=\"_ _7\"/>sis if their contractual mat<span class=\"_ _3\"/>urities are essential for an understanding of the timing of the cash flows. <span class=\"_ _9\"/>T<span class=\"_ _7\"/>he table also analyses the maturity profile  of financial assets in order to provide a complete o<span class=\"_ _7\"/>verview of the contractual commitments and liquidity<span class=\"_ _3\"/>. <span class=\"_ _9\"/>The amounts disclosed in the table are the contractual undiscounted cash flows. <span class=\"_ _8\"/>The financial guarantees and securities issued (see note 9.8) are included f<span class=\"_ _7\"/>or their full amount and it is assumed for disclosure purposes that these can be called within one y<span class=\"_ _7\"/>ear<span class=\"_ _3\"/>. &lt; 1 year <span class=\"_ _15f\"> </span>1-2 y<span class=\"_ _7\"/>ears <span class=\"_ _c0\"> </span>2-5 years <span class=\"_ _c0\"> </span>&gt; 5 y<span class=\"_ _7\"/>ears In EUR millions - at 31 December <span class=\"_ _2bf\"> </span>2022 <span class=\"_ _53\"> </span><span class=\"fc7\">2021 <span class=\"_ _53\"> </span></span>2022 <span class=\"_ _53\"> </span><span class=\"fc7\">2021 <span class=\"_ _53\"> </span></span>2022 <span class=\"_ _53\"> </span><span class=\"fc7\">2021 <span class=\"_ _53\"> </span></span>2022 <span class=\"_ _53\"> </span>202Cash and cash equivalents <span class=\"_ _241\"> </span>33.8 <span class=\"_ _7c\"> </span>73.4 <span class=\"_ _184\"> </span>\u2013 <span class=\"_ _6d\"> </span>\u2013 <span class=\"_ _6d\"> </span>\u2013 <span class=\"_ _6d\"> </span>\u2013 <span class=\"_ _184\"> </span>\u2013 <span class=\"_ _6d\"> </span>\u2013 T<span class=\"_ _9\"/>rade and other receivables <span class=\"_ _2c0\"> </span>31<span class=\"_ _7\"/>8.5 <span class=\"_ _c7\"> </span>259.6 <span class=\"_ _6d\"> </span>\u2013 <span class=\"_ _184\"> </span>\u2013 <span class=\"_ _6d\"> </span>\u2013 <span class=\"_ _6d\"> </span>\u2013 <span class=\"_ _6d\"> </span>\u2013 <span class=\"_ _184\"> </span>\u2013 Other loans <span class=\"_ _264\"> </span>2.9 <span class=\"_ _41\"> </span>1<span class=\"_ _9\"/>.7 <span class=\"_ _3f\"> </span>2.0 <span class=\"_ _cb\"> </span>1<span class=\"_ _9\"/>.7 <span class=\"_ _7c\"> </span>40.2 <span class=\"_ _3f\"> </span>6.6 <span class=\"_ _184\"> </span>\u2013 <span class=\"_ _46\"> </span>36.6 Finance lease receivable <span class=\"_ _207\"> </span>1<span class=\"_ _7\"/>3.8 <span class=\"_ _49\"> </span>13.2 <span class=\"_ _46\"> </span>13.9 <span class=\"_ _46\"> </span>13.3 <span class=\"_ _51\"> </span>41<span class=\"_ _9\"/>.4 <span class=\"_ _7c\"> </span>40.4 <span class=\"_ _190\"> </span>132.3 <span class=\"_ _c7\"> </span>140.5 T<span class=\"_ _8\"/>otal undiscounted financial assets (excluding gr<span class=\"_ _7\"/>oss settled der<span class=\"_ _7\"/>iv<span class=\"_ _7\"/>atives) 369.0 <span class=\"_ _c7\"> </span>347<span class=\"_ _8\"/>.9 <span class=\"_ _1b2\"> </span>15.9 <span class=\"_ _7f\"> </span>15.0 <span class=\"_ _1bb\"> </span>81<span class=\"_ _7\"/>.6 <span class=\"_ _49\"> </span>47<span class=\"_ _1\"/>.0 <span class=\"_ _69\"> </span>132.3 <span class=\"_ _c7\"> </span>177<span class=\"_ _1\"/>.1 Bank o<span class=\"_ _7\"/>verdraf<span class=\"_ _3\"/>ts <span class=\"_ _29a\"> </span>1<span class=\"_ _9\"/>.1 <span class=\"_ _3f\"> </span>2.6 <span class=\"_ _6d\"> </span>\u2013 <span class=\"_ _184\"> </span>\u2013 <span class=\"_ _6d\"> </span>\u2013 <span class=\"_ _6d\"> </span>\u2013 <span class=\"_ _6d\"> </span>\u2013 <span class=\"_ _6d\"> </span>\u2013 Redemption of interest-bearing loans <span class=\"_ _17e\"> </span>420.2 <span class=\"_ _3f\"> </span>0.8 <span class=\"_ _190\"> </span>213.1 <span class=\"_ _c7\"> </span>505.5 <span class=\"_ _4f\"> </span>90<span class=\"_ _3\"/>1<span class=\"_ _9\"/>.8 <span class=\"_ _4f\"> </span>527<span class=\"_ _8\"/>.0 <span class=\"_ _53\"> </span>551<span class=\"_ _9\"/>.7 <span class=\"_ _c7\"> </span>792.2 Short-term borrowings <span class=\"_ _2c1\"> </span>27<span class=\"_ _3\"/>6.8 <span class=\"_ _c7\"> </span>462.0 <span class=\"_ _6d\"> </span>\u2013 <span class=\"_ _184\"> </span>\u2013 <span class=\"_ _6d\"> </span>\u2013 <span class=\"_ _6d\"> </span>\u2013 <span class=\"_ _6d\"> </span>\u2013 <span class=\"_ _6d\"> </span>\u2013 Lease liabilities <span class=\"_ _2c2\"> </span>56.8 <span class=\"_ _46\"> </span>55.3 <span class=\"_ _51\"> </span>51<span class=\"_ _9\"/>.6 <span class=\"_ _46\"> </span>52.9 <span class=\"_ _e6\"> </span>147<span class=\"_ _d\"/>.0 <span class=\"_ _190\"> </span>1<span class=\"_ _7\"/>40.5 <span class=\"_ _c7\"> </span>830.7 <span class=\"_ _190\"> </span>815.4 Interest payments <span class=\"_ _12b\"> </span>62.2 <span class=\"_ _7c\"> </span>63.6 <span class=\"_ _46\"> </span>52.1 <span class=\"_ _83\"> </span>57<span class=\"_ _1\"/>.9 <span class=\"_ _46\"> </span>89.3 <span class=\"_ _4f\"> </span>1<span class=\"_ _9\"/>13.9 <span class=\"_ _c7\"> </span>144.8 <span class=\"_ _c7\"> </span>124.8 Interest rate swaps <span class=\"_ _2c3\"> </span>3.6 <span class=\"_ _3f\"> </span>4.1 <span class=\"_ _3f\"> </span>2.0 <span class=\"_ _3f\"> </span>3.3 <span class=\"_ _3f\"> </span>4.0 <span class=\"_ _3f\"> </span>4.4 <span class=\"_ _3f\"> </span>0.5 <span class=\"_ _cb\"> </span>1<span class=\"_ _9\"/>.2 T<span class=\"_ _9\"/>rade and other creditors (excluding non-financial instr<span class=\"_ _3\"/>uments) <span class=\"_ _18f\"> </span>1<span class=\"_ _7\"/>94.4 <span class=\"_ _190\"> </span>184.1 <span class=\"_ _72\"> </span>\u2013 <span class=\"_ _184\"> </span>\u2013 <span class=\"_ _6d\"> </span>\u2013 <span class=\"_ _6d\"> </span>\u2013 <span class=\"_ _6d\"> </span>\u2013 <span class=\"_ _184\"> </span>\u2013 T<span class=\"_ _8\"/>otal undiscounted financial liabilities (excluding gr<span class=\"_ _7\"/>oss settled der<span class=\"_ _7\"/>iv<span class=\"_ _7\"/>atives) 1,0<span class=\"_ _3\"/>15.1 <span class=\"_ _69\"> </span>772.5 <span class=\"_ _8d\"> </span>318.8 <span class=\"_ _69\"> </span>61<span class=\"_ _7\"/>9.6 <span class=\"_ _18e\"> </span>1,142.1 <span class=\"_ _69\"> </span>785.8 <span class=\"_ _115\"> </span>1,527<span class=\"_ _8\"/>.7 <span class=\"_ _e3\"> </span>1,733.6 Derivativ<span class=\"_ _7\"/>e financial instruments outflow <span class=\"_ _2c4\"> </span>- 246.1 <span class=\"_ _6d\"> </span>\u2013 <span class=\"_ _f9\"> </span>- 1<span class=\"_ _3\"/>51<span class=\"_ _9\"/>.3 <span class=\"_ _4d\"> </span>- 246.1 <span class=\"_ _131\"> </span>- 61<span class=\"_ _9\"/>.2 <span class=\"_ _4d\"> </span>- 212.6 <span class=\"_ _c7\"> </span>- 66.6 <span class=\"_ _c7\"> </span>- 66.6 Derivativ<span class=\"_ _7\"/>e financial instruments inflow <span class=\"_ _218\"> </span>295.3 <span class=\"_ _6d\"> </span>\u2013 <span class=\"_ _4f\"> </span>1<span class=\"_ _7\"/>41<span class=\"_ _9\"/>.0 <span class=\"_ _c7\"> </span>278.0 <span class=\"_ _7c\"> </span>70.3 <span class=\"_ _190\"> </span>219.7 <span class=\"_ _7c\"> </span>73.2 <span class=\"_ _46\"> </span>68.9 T<span class=\"_ _8\"/>otal undiscounted gross set<span class=\"_ _7\"/>tled deriv<span class=\"_ _3\"/>atives 49.2 <span class=\"_ _72\"> </span>\u2013 <span class=\"_ _8d\"> </span>- 1<span class=\"_ _7\"/>0.3 <span class=\"_ _19c\"> </span>31.9 <span class=\"_ _2f\"> </span>9.1 <span class=\"_ _185\"> </span>7<span class=\"_ _8\"/>.1 <span class=\"_ _88\"> </span>6.6 <span class=\"_ _88\"> </span>2.3 Financial guarantees and securities issued <span class=\"_ _2c5\"> </span>1<span class=\"_ _9\"/>1<span class=\"_ _7\"/>2.1<span class=\"_ _19c\"> </span>1<span class=\"_ _9\"/>16.7 <span class=\"_ _72\"> </span>\u2013 <span class=\"_ _184\"> </span>\u2013 <span class=\"_ _6d\"> </span>\u2013 <span class=\"_ _6d\"> </span>\u2013 <span class=\"_ _6d\"> </span>\u2013 <span class=\"_ _184\"> </span>\u2013 T<span class=\"_ _8\"/>otal financial guarantees and secur<span class=\"_ _7\"/>ities 1<span class=\"_ _9\"/>12.1<span class=\"_ _e6\"> </span>1<span class=\"_ _9\"/>16.7 <span class=\"_ _72\"> </span>\u2013 <span class=\"_ _72\"> </span>\u2013 <span class=\"_ _72\"> </span>\u2013 <span class=\"_ _6d\"> </span>\u2013 <span class=\"_ _72\"> </span>\u2013 <span class=\"_ _72\"> </span>\u2013 Liquidity mov<span class=\"_ _7\"/>ements <span class=\"_ _1ee\"> </span><span class=\"fc0\">- 709.0<span class=\"_ _e1\"> </span></span>- 541<span class=\"_ _7\"/>.3 <span class=\"_ _d0\"> </span><span class=\"fc0\">- 313.2 <span class=\"_ _d0\"> </span></span>- 572.7 <span class=\"_ _b0\"> </span>- 1,051<span class=\"_ _3\"/>.4 <span class=\"_ _118\"> </span><span class=\"fcb\">- 731<span class=\"_ _7\"/>.7 <span class=\"_ _c3\"> </span><span class=\"fc0\">- 1,388.8 <span class=\"_ _fb\"> </span></span>- 1,554.2 </span>",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfLiquidityRiskExplanatory",
    "language": "en",
    "entity": "scheme:724500UL634GFV1KYF10",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
   }
  },
  "pp-value-192-4": {
   "value": "A Accounting policies   Share-based compensation   The fair value of equity-settled share-based compensation plans is determined at the date of granting and expensed in the statement of income based on the Group\u2019s estimate of the shares that will eventually vest over the period in which the service is rendered (vesting period) with a corresponding adjustment directly in equity. The fair value of cash-settled share-based compensation plans is determined at the date of granting and is remeasured at each reporting date until the liability is settled and is recognized over the vesting period as an expense to the extent to which participants have rendered services to date.    Generally, the compensation cost is recognized on a straight-line basis over the vesting period. The amounts expensed are adjusted over the vesting period for changes in the estimate of the number of shares and the equivalent in cash that will eventually vest. Adjustments are made at the end of each reporting period to reflect expected and actual forfeitures during the vesting period due to the failure to satisfy service conditions or non-market performance conditions, being profitability growth targets (EPS), Strategy Execution (previously named \u201cStrategic Direction\u201d) and Sustainability Execution (for LTSP and LTCP 2022-2024) as well as service conditions such as remaining an employee of the Group over a specified time period.   An equity-settled share-based payment award with a net settlement feature for withholding tax obligations is treated as equity-settled in its entirety.   Other long-term remuneration  Long-term remuneration settled in cash that depends on the development of the earnings per ordinary share (EPS) -excluding exceptional items- during a period of three years is allocated to these years based on the latest estimates of the EPS -excluding exceptional items- and are not treated as share-based payment plans. Liabilities are remeasured at the end of each reporting period.   ",
   "dimensions": {
    "concept": "ifrs-full:DescriptionOfAccountingPolicyForSharebasedPaymentTransactionsExplanatory",
    "language": "en",
    "entity": "scheme:724500UL634GFV1KYF10",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
   }
  },
  "pp-value-202-5": {
   "value": "Note 7.3 Related parties  Transactions with Supervisory Board members and Executive Board members  For the remuneration of Supervisory Board members and Executive Board members, the key management of the Group, reference is made to the sections Remuneration of the Supervisory Board in 2022 and Executive Board Remuneration in 2022 of the Remuneration report, which are deemed part of these financial statements.  No loans, advances or guarantees have been provided to current or former members of the Supervisory Board and the Executive Board.  For both years presented, the Group has not conducted any transactions with companies in which Executive Board members and/or persons closely related to them have a significant financial interest.  Transactions with joint ventures and associates   The transactions with our joint ventures and associates, other than providing equity and receiving dividends, principally consist of fees for services provided by the Group, loans issued by the Group and the related interest income.  Transactions with major shareholders  Besides the annual dividend distribution, no material related party transactions have been entered into with the major shareholders during the years presented.  Vopak has been informed by HAL Holding N.V. (\u2018HAL\u2019), that it is technically required for HAL to consolidate Vopak in its Consolidated financial statements as from 1 January 2014. Accordingly, HAL has requested Vopak to provide detailed accounting information with respect to the Consolidated financial statements in order for HAL to be able to consolidate Vopak in its Consolidated statements. To facilitate HAL in complying with its obligations under IFRS 10, a Memorandum of Understanding was signed between Vopak and HAL with respect to confidentiality, the process of exchanging information, subsequent events procedures, external auditor involvement and attendance rights to the Audit Committee meetings for an independent financial expert on behalf of HAL.  Transactions with pension funds   Related party transactions with Vopak\u2019s pension funds are presented in note 9.4.  ",
   "dimensions": {
    "concept": "ifrs-full:DescriptionOfAccountingPolicyForTransactionsWithRelatedPartiesExplanatory",
    "language": "en",
    "entity": "scheme:724500UL634GFV1KYF10",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
   }
  },
  "pp-value-206-2": {
   "value": "Note 7.4 Fees paid to auditors appointed at the Annual General Meeting  The fees listed in the table below relate to the procedures applied to the company and its consolidated Group entities by Deloitte Accountants B.V., the Netherlands, the external auditor as referred to in Section 1(1) of the Dutch Accounting Firms Oversight Act (Dutch acronym: Wta), as well as by other Dutch and foreign-based Deloitte individual partnerships and legal entities, including their tax services and advisory groups.  In EUR millions   2022   2021  Financial statements audit fees   1.7   1.6  Other assurance fees   0.1   0.1  Total   1.8   1.7  The financial statements audit fees include the aggregate fees in 2022 and 2021 for professional services rendered for the audit of Vopak\u2019s annual financial statements and annual statutory financial statements of subsidiaries or services that are normally provided by the auditor in connection with the audits.  The other assurance fees include the aggregate fees invoiced for assurance and services for other audit services, which generally only the company\u2019s independent auditor can reasonably provide, such as the sustainability review, comfort letters and audit of grant statements.  In line with the Dutch independence legislation, no tax advisory, compliance services or other non-audit services were provided in the years presented.The total fees charged by Deloitte Accountants B.V., the Netherlands to the company and its consolidated Group entities amounted to EUR 1.0 million in 2022 (2021: EUR 1.0 million). Of the 2022 fees, an amount of EUR 0.1 million (2021: EUR 0.1 million) relates to non-recurring fees for the 2021 audit.",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfAuditorsRemunerationExplanatory",
    "language": "en",
    "entity": "scheme:724500UL634GFV1KYF10",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
   }
  },
  "pp-value-208-2": {
   "value": "Note 8.1 Income taxes  A Accounting policies  Taxes on profit or loss for the financial year comprise current and deferred taxes. Taxes are recognized in the statement of income unless they relate to items directly recognized in Other comprehensive income or directly in equity.   Current taxes are the expected taxes payable on the taxable income for the year, using tax rates substantially enacted at the end of the reporting period, plus any adjustments to prior-year tax payable.   Deferred taxes are provided for, using the liability method, whereby provisions are made for all taxable temporary differences between the carrying amounts of assets and liabilities for financial reporting purposes and their tax base. No deferred taxes are provided for the following temporary differences: goodwill not deductible for tax purposes; the initial recognition of assets and liabilities that neither affect accounting nor taxable profit; and differences relating to investments in subsidiaries to the extent that they will not reverse in the foreseeable future. The calculation is based on tax rates enacted or substantively enacted, at the end of the reporting period.   Deferred tax assets, including assets arising from losses carried forward, are recognized to the extent that it is probable that future taxable profits will be available against which these temporary differences or unused tax losses can be utilized. Deferred tax assets and liabilities are stated at nominal value.   The Group recognizes liabilities for potential tax audit issues based on estimates of whether additional taxes will be due. Where the final tax outcome of these matters differs from the amounts that were initially recorded, such differences will impact the current and deferred income tax assets and liabilities in the period in which such determination is made.  A provision is formed for tax, principally regarding withholding tax, for which a liability might arise in connection with the distribution of retained earnings if a decision has been made to distribute such earnings.  Income tax recognized in the Consolidated statement of income  In EUR millions   2022   2021       Current taxes     Current financial year   67.7   48.9  Adjustments for prior years   -  2.5   -  7.3   65.2   41.6       Deferred taxes     Adjustments for prior years   2.9   2.8  Temporary differences   26.7   42.4  (De)recognition of tax losses and tax credits   8.9   -  26.5  Changes in tax rates   -  2.5   -  0.3    36.0   18.4       Tax on profit   101.2   60.0       Income tax paid   55.9   65.0  Movements in current and deferred tax balances   45.3   -  5.0  Income tax expense   101.2   60.0  In 2022, EUR 0.4 million of exceptional tax gains were recognized in the income tax expenses (2021: EUR 1.0 million tax gain). For both years, these are related to the income tax effects on the exceptional items.    The main difference between the tax expenses for the year and the current tax charge was caused by deferred tax expenses mostly related to the derecognition of deferred tax assets in the Dutch fiscal unity and differences in the depreciation rates of Property, plant and equipment as well as lease accounting. For further details on the deferred tax position, reference is made to note 8.2.   Tax expenses per share  The tax expense per share amounted to EUR 0.80 in 2022 (2021: EUR 0.48).  More information on Vopak\u2019s responsibility towards taxation can be found in the Sustainability chapter.  Reconciliation of effective tax rate   In EUR millions   2022   2021  Profit before income tax     -  36.6     303.2  Tax on profit    101.2     60.0  Effective tax rate     -276.8%     19.8%           Composition:   Amount   %   Amount   %  Weighted average statutory tax rate   -  17.1   46.8   68.7   22.7  Participation exemption   -  43.8   119.8   -  40.0   -  13.2  Non-deductible expenses   17.9   -  49.0   9.8   3.2  Changes in tax rates   -  2.6   7.1   -  0.3   -  0.1  (De)recognition of tax losses and tax credits   150.6   -  412.0   20.0   6.6  Tax facilities   -  1.6   4.4   -  1.0   -  0.3  Movements in prior-year taxes   0.4   -  1.1   -  4.5   -  1.5  Other effects   -  2.6   7.2   7.3   2.4  Effective tax (rate)   101.2   -  276.8   60.0   19.8   Income tax expenses -including exceptional items- amounted to EUR 101.2 million in 2022, an increase of EUR 41.2 million compared to EUR 60.0 million in 2021. The effective tax rate -including exceptional items- was -276.8% compared to 19.8% in 2021. This resulted from the fact that a tax income of only EUR 0.4 million was recorded in respect of exceptional losses totaling to EUR 463.2 million. The impairments in Botlek and Europoort did not lead to recognition of deferred tax assets as insufficient taxable profits are expected to be available. For the other exceptional items, except the business development costs impairment in Belgium, the participation exemption prevented tax charges from being recognized.   Income tax expenses -excluding exceptional items- amounted to EUR 101.6 million in 2022, an increase of EUR 40.6 million compared to EUR 61.0 million in 2021. The effective tax rate -excluding exceptional items- was 23.8% compared to 15.7% in 2021. This increase is largely driven by the derecognition of deferred tax assets in the Dutch fiscal unity as a result of updated long-term outlooks on future taxable profits.   The non-deductible expenses category which is included as part of the effective tax reconciliation includes business expenses which are not tax deductible under local (tax) law. The movements in prior-year taxes includes several tax positions which have been confirmed by the local tax authorities resulting in a true-up of tax provisions.  As the Group extensively operates via investments in joint ventures and associates, which fall under the Dutch participation exemption, and of which the profits have been taxed in the country of establishment while the net profits of these entities are part of the EBIT(DA) of the Group, the effective tax rate of the Vopak Group for this effective tax reconciliation item is generally lower than the weighted average tax rate of that of its subsidiaries.  For an overview of the effects of the joint ventures and associates on the effective tax rate of the Group, as well as the proportionate effective tax rate, reference is made to note 23 of the Sustainability Section.  Income tax recognized in other comprehensive income  In EUR millions   Note   2022   202On changes in the value of cash flow hedges   5.2   18.2   -  0.3  On exchange differences and hedges   5.2   \u2013   2.4  On use of cash flow hedges   5.2   \u2013   -  0.1  On remeasurements of defined benefit plans    6.5   4.2  Total     24.7   6.2  ",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfIncomeTaxExplanatory",
    "language": "en",
    "entity": "scheme:724500UL634GFV1KYF10",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
   }
  },
  "pp-value-208-4": {
   "value": "Note 8.1 Income taxes  A Accounting policies  Taxes on profit or loss for the financial year comprise current and deferred taxes. Taxes are recognized in the statement of income unless they relate to items directly recognized in Other comprehensive income or directly in equity.   Current taxes are the expected taxes payable on the taxable income for the year, using tax rates substantially enacted at the end of the reporting period, plus any adjustments to prior-year tax payable.   Deferred taxes are provided for, using the liability method, whereby provisions are made for all taxable temporary differences between the carrying amounts of assets and liabilities for financial reporting purposes and their tax base. No deferred taxes are provided for the following temporary differences: goodwill not deductible for tax purposes; the initial recognition of assets and liabilities that neither affect accounting nor taxable profit; and differences relating to investments in subsidiaries to the extent that they will not reverse in the foreseeable future. The calculation is based on tax rates enacted or substantively enacted, at the end of the reporting period.   Deferred tax assets, including assets arising from losses carried forward, are recognized to the extent that it is probable that future taxable profits will be available against which these temporary differences or unused tax losses can be utilized. Deferred tax assets and liabilities are stated at nominal value.   The Group recognizes liabilities for potential tax audit issues based on estimates of whether additional taxes will be due. Where the final tax outcome of these matters differs from the amounts that were initially recorded, such differences will impact the current and deferred income tax assets and liabilities in the period in which such determination is made.  A provision is formed for tax, principally regarding withholding tax, for which a liability might arise in connection with the distribution of retained earnings if a decision has been made to distribute such earnings.  ",
   "dimensions": {
    "concept": "ifrs-full:DescriptionOfAccountingPolicyForIncomeTaxExplanatory",
    "language": "en",
    "entity": "scheme:724500UL634GFV1KYF10",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
   }
  },
  "pp-value-215-2": {
   "value": "Note 8.2 Deferred taxes   A Accounting policies  Deferred tax assets and liabilities are offset against each other to the extent that this is a legally enforceable right and the deferrals belong to the same fiscal unit. The decision to account for deferred tax assets is taken periodically for each fiscal unit after critically assessing whether conditions are sufficient to realize these deferred tax assets, based on the strategic plans and related tax plans.   BKey accounting estimates and judgments Deferred tax assets, including those arising from carry-forward losses, are recognized if it is probable that taxable profit is available against which losses can be offset. In determining this, Vopak uses estimates and assumptions that also affect the measurement of the deferred tax assets. A maturity schedule of the unrecognized carry-forward losses is shown on the next page.  Deferred tax assets and liabilities      Temporary differences       Property, plant Statement of Carry forward and equip-Employee Offset assets financial 1  In EUR millions  losses  mentLoans  granted  benefits   Lease  liabilities   Other  and  liabilities  position  Assets   24.1   2.1   0.4   12.6   162.5   32.7   -  191.2   43.2  Liabilities   \u2013   -  272.1   -  0.2   -  0.1   \u2013   -  102.1   191.2   -  183.3  Balance 31 December 2020   24.1   -  270.0   0.2   12.5   162.5   -  69.4   \u2013   -  140.1  Movements:                 - Statement of income   30.8   -  50.0   0.5   0.3   2.8   -  2.8    -  18.4  - Other comprehensive income   \u2013   \u2013   -  1.1   -  4.2   \u2013   0.4    -  4.9  - Acquisitions/divestments   \u2013   12.0   \u2013   \u2013   \u2013   -  4.5    7.5  - Exchange differences   0.4   -  10.9   0.2   0.7   3.6   -  4.9    -  10.9  Balance 31 December 2021   55.3   -  318.9   -  0.2   9.3   168.9   -  81.2     -  166.8                   Assets   55.3   0.1   0.8   9.7   168.9   30.5   -  214.7   50.6  Liabilities   \u2013   -  319.0   -  1.0   -  0.4   \u2013   -  111.7   214.7   -  217.4  Balance 31 December 2021   55.3   -  318.9   -  0.2   9.3   168.9   -  81.2   \u2013   -  166.8  Movements:                  - Statement of income   -  10.2   60.7   0.5   0.1   -  79.6   -  7.5     -  36.0  - Other comprehensive income   \u2013   \u2013   \u2013   -  6.7   \u2013   -  18.2    -  24.9  - Retained earnings other   \u2013   \u2013   1.1   \u2013   \u2013   -  7.0    -  5.9  - Acquisitions/divestments   \u2013   -  1.8   \u2013   \u2013   \u2013   \u2013    -  1.8  - Exchange differences   4.0   -  11.5   \u2013   0.4   2.6   -  2.9    -  7.4  Balance 31 December 2022   49.1   -  271.5   1.4   3.1   91.9   -  116.8     -  242.8                   Assets   49.1   1.4   1.4   3.9   91.9   -  78.2   -  60.8   8.7  Liabilities   \u2013   -  272.9   \u2013   -  0.8   \u2013   -  38.6   60.8   -  251.5  Balance 31 December 2022   49.1   -  271.5   1.4   3.1   91.9   -  116.8   \u2013   -  242.8  1  Owned and right-of-use assets  In determining the deferred tax liabilities for taxable temporary differences associated with investments in associates and joint ventures, withholding tax due on undistributed reserves have been recognized to the extent that it is probable that these differences will reverse in the foreseeable future. For these temporary differences, deferred tax liabilities amounting to EUR 8.4 million have been recognized at 31 December 2022 (2021: EUR 6.8 million). In determining the deferred tax liabilities, withholding tax and any other tax due for unremitted earnings of subsidiaries were not recognized. These earnings are deemed to have been permanently reinvested. For the Dutch fiscal unity, due to changed long-term outlooks on the taxable profits, existing deferred asset positions could no longer be recognized. This resulted in an additional tax charge of EUR 16.7 million and a reduction of Retained earnings of EUR 5.9 million and Other comprehensive income of EUR 18.2 million (fair value of cash flow hedges).   Deferred tax assets not recognized in the Consolidated statement of financial position  Carry-forward losses for which deferred tax assets have not been recognized amounted to EUR 479.6 million at 31 December 2022 (2021: EUR 0.5 million). The maturity schedule is as follows:     In EUR millions   2023   2024   2025   2026   2027+   unlimited   Total  Offsettable tax losses carry-forward  \u2013   \u2013   0.1   1.7   1.4   476.4   479.6   Deferred tax assets regarding these carry-forward losses have not been recognized because it is not probable that sufficient taxable profit will be available to utilize the deferred tax asset in time. The Group did not recognize deferred income tax assets in respect of deductible temporary differences of EUR 139.1 million (2021: nil) that can be carried forward against future taxable income, as it is not considered probable that future taxable profits and/or taxable temporary differences will be available.   ",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfDeferredTaxesExplanatory",
    "language": "en",
    "entity": "scheme:724500UL634GFV1KYF10",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
   }
  },
  "pp-value-215-4": {
   "value": "Note 8.2 Deferred taxes   A Accounting policies  Deferred tax assets and liabilities are offset against each other to the extent that this is a legally enforceable right and the deferrals belong to the same fiscal unit. The decision to account for deferred tax assets is taken periodically for each fiscal unit after critically assessing whether conditions are sufficient to realize these deferred tax assets, based on the strategic plans and related tax plans.   BKey accounting estimates and judgments Deferred tax assets, including those arising from carry-forward losses, are recognized if it is probable that taxable profit is available against which losses can be offset. In determining this, Vopak uses estimates and assumptions that also affect the measurement of the deferred tax assets. A maturity schedule of the unrecognized carry-forward losses is shown on the next page.  ",
   "dimensions": {
    "concept": "ifrs-full:DescriptionOfAccountingPolicyForDeferredIncomeTaxExplanatory",
    "language": "en",
    "entity": "scheme:724500UL634GFV1KYF10",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
   }
  },
  "pp-value-223-2": {
   "value": "Note 9.1 Earnings per ordinary share - number of shares  Basic earnings per ordinary share are calculated by dividing the net profit attributable to holders of ordinary shares by the time-weighted average number of outstanding ordinary shares (excluding the average number of treasury shares). The weighted average number of outstanding shares was 125,395,678 in 2022 (2021: 125,416,945).  In calculating the diluted earnings per ordinary share, the weighted average number of outstanding shares is adjusted for the dilutive effects of all dilutive potential ordinary shares, such as share-based payment arrangements.  The composition of the weighted average number of outstanding shares and of the diluted weighted average number of outstanding shares is as follows:   In thousands   Note   2022   202Outstanding ordinary shares at 1 January   5.1   125,349   125,395  Movements treasury shares   5.1   47   22  Basic weighted average number of ordinary shares     125,396   125,417  Dilutive effect of LTSPs (equity-settled part)     149   193  Weighted average number of ordinary shares including dilutive effect     125,545   125,610  At 31 December 2022, the company owned 324,587 treasury shares (2021: 392,016). The treasury shares have no voting rights attached to them, nor are they eligible for dividends during the period when these are held by the company.  When the vesting conditions of the equity-settled share-based payment arrangements are met, the settlement will result in an increase of the number of shares outstanding, which will have a dilutive effect. During 2022, the LTSP 2019-2021 share-based payment arrangement was settled resulting in the transfer of 67,429 treasury shares to eligible employees (2021: 45,434 shares).  The LTSP 2020-2022 will be settled in 2023. For more information, reference is made to note 7.2.  ",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfEarningsPerShareExplanatory",
    "language": "en",
    "entity": "scheme:724500UL634GFV1KYF10",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
   }
  },
  "pp-value-223-4": {
   "value": "Note 9.1 Earnings per ordinary share - number of shares  Basic earnings per ordinary share are calculated by dividing the net profit attributable to holders of ordinary shares by the time-weighted average number of outstanding ordinary shares (excluding the average number of treasury shares). The weighted average number of outstanding shares was 125,395,678 in 2022 (2021: 125,416,945).  In calculating the diluted earnings per ordinary share, the weighted average number of outstanding shares is adjusted for the dilutive effects of all dilutive potential ordinary shares, such as share-based payment arrangements.  ",
   "dimensions": {
    "concept": "ifrs-full:DescriptionOfAccountingPolicyForEarningsPerShareExplanatory",
    "language": "en",
    "entity": "scheme:724500UL634GFV1KYF10",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
   }
  },
  "pp-value-227-3": {
   "value": "Note 9.2 Loans granted and finance lease receivable  A Accounting policies  The Group classifies its loans granted and other debt investments at amortized cost only if both of the following criteria are met:  \u2022  the asset is held within a business model with the objective of collecting the contractual cash flows, and  \u2022  the contractual terms give rise on specified dates to cash flows that are solely payments of principal and interest on the principal outstanding.  All loans granted and other debt investments meet these criteria and are measured at amortized cost.   At initial recognition, the Group measures loans granted at its fair value plus directly attributable transaction costs. Subsequently, these items are carried at amortized cost using the effective interest method.  Assets held under a finance lease are presented in the Statement of financial position as a receivable at an amount equal to the net investment in the lease. The income on the finance lease receivable is based on a pattern reflecting a constant periodic rate of return on the lessor\u2019s net investment in the finance lease and is presented as Other income.  The expected credit losses associated with its loans granted and other issued debt instruments carried at amortized cost are assessed by the Group on a forward looking basis. The impairment methodology applied depends on whether there has been a significant increase in credit risk.   Loans to joint ventures and  associates   Other loans   Total loans granted   Finance lease receivable                  In EUR millions   2022   2021   2022   2021   2022   2021   2022   2021  Carrying amount at 1 January   \u2013   54.8   45.6   36.2   45.6   91.0   131.2   28.6  Movements:                  Loans granted   \u2013   \u2013   6.0   13.0   6.0   13.0   \u2013   \u2013  Repayments   \u2013   \u2013   -  7.1   -  3.8   -  7.1   -  3.8   -  13.6   -  9.5  Reclassification   \u2013   -  57.0   \u2013   \u2013   \u2013   -  57.0   \u2013   104.7  Other loans interest income   \u2013   \u2013   0.3   \u2013   0.3   \u2013   \u2013   \u2013  Finance lease interest income   \u2013   \u2013   \u2013   \u2013   \u2013   \u2013   8.4   6.6  Exchange differences   \u2013   2.2   0.9   0.2   0.9   2.4   5.9   0.8  Carrying amount at 31 December   \u2013   \u2013   45.7   45.6   45.7   45.6   131.9   131.2                   Non-current receivables   \u2013   \u2013   43.8   44.8   43.8   44.8   126.1   127.6  Current receivables   \u2013   \u2013   1.9   0.8   1.9   0.8   5.8   3.6  Carrying amount at 31 December   \u2013   \u2013   45.7   45.6   45.7   45.6   131.9   131.2  In 2021, a finance lease of EUR 104.1 million was recorded by Vopak Terminal Corpus Christi, in the United States, after the assets were commissioned. The commercial contract has a duration of 20-years after which the assets will automatically transfer to the customer.   Loans granted do not include any subordinated loans.   Reference is made to note 9.9 for the fair value information and note 6.7 on the remaining period at the end of the reporting period to the contractual maturity date.   With respect to the loans granted and the finance lease receivables, which are neither impaired nor past due, there are no indications as of the reporting date that the debtors will not meet their payment obligations.   ",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfOtherNoncurrentAssetsExplanatory",
    "language": "en",
    "entity": "scheme:724500UL634GFV1KYF10",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
   }
  },
  "pp-value-227-4": {
   "value": "Note 9.2 Loans granted and finance lease receivable  A Accounting policies  The Group classifies its loans granted and other debt investments at amortized cost only if both of the following criteria are met:  \u2022  the asset is held within a business model with the objective of collecting the contractual cash flows, and  \u2022  the contractual terms give rise on specified dates to cash flows that are solely payments of principal and interest on the principal outstanding.  All loans granted and other debt investments meet these criteria and are measured at amortized cost.   At initial recognition, the Group measures loans granted at its fair value plus directly attributable transaction costs. Subsequently, these items are carried at amortized cost using the effective interest method.  Assets held under a finance lease are presented in the Statement of financial position as a receivable at an amount equal to the net investment in the lease. The income on the finance lease receivable is based on a pattern reflecting a constant periodic rate of return on the lessor\u2019s net investment in the finance lease and is presented as Other income.  The expected credit losses associated with its loans granted and other issued debt instruments carried at amortized cost are assessed by the Group on a forward looking basis. The impairment methodology applied depends on whether there has been a significant increase in credit risk.   Loans to joint ventures and  associates   Other loans   Total loans granted   Finance lease receivable                  In EUR millions   2022   2021   2022   2021   2022   2021   2022   2021  Carrying amount at 1 January   \u2013   54.8   45.6   36.2   45.6   91.0   131.2   28.6  Movements:                  Loans granted   \u2013   \u2013   6.0   13.0   6.0   13.0   \u2013   \u2013  Repayments   \u2013   \u2013   -  7.1   -  3.8   -  7.1   -  3.8   -  13.6   -  9.5  Reclassification   \u2013   -  57.0   \u2013   \u2013   \u2013   -  57.0   \u2013   104.7  Other loans interest income   \u2013   \u2013   0.3   \u2013   0.3   \u2013   \u2013   \u2013  Finance lease interest income   \u2013   \u2013   \u2013   \u2013   \u2013   \u2013   8.4   6.6  Exchange differences   \u2013   2.2   0.9   0.2   0.9   2.4   5.9   0.8  Carrying amount at 31 December   \u2013   \u2013   45.7   45.6   45.7   45.6   131.9   131.2                   Non-current receivables   \u2013   \u2013   43.8   44.8   43.8   44.8   126.1   127.6  Current receivables   \u2013   \u2013   1.9   0.8   1.9   0.8   5.8   3.6  Carrying amount at 31 December   \u2013   \u2013   45.7   45.6   45.7   45.6   131.9   131.2  In 2021, a finance lease of EUR 104.1 million was recorded by Vopak Terminal Corpus Christi, in the United States, after the assets were commissioned. The commercial contract has a duration of 20-years after which the assets will automatically transfer to the customer.   Loans granted do not include any subordinated loans.   Reference is made to note 9.9 for the fair value information and note 6.7 on the remaining period at the end of the reporting period to the contractual maturity date.   With respect to the loans granted and the finance lease receivables, which are neither impaired nor past due, there are no indications as of the reporting date that the debtors will not meet their payment obligations.   Note 9.6 Investments and other financial assets  The group has investments in the equity of other entities which do not classify as either a subsidiary, joint venture or associate. These investments primarily concern the investments in Sabtank in Saudi Arabia, Vopak Terminal Venezuela and the investments held by Vopak Ventures B.V. These investments in unlisted entities are not held for trading and are considered to be strategic investments.  A Accounting policies  The group makes an irrevocable election on an investment-by-investment basis at the time of initial recognition to measure these investments either as:  \u2022  Fair value through profit and loss (FVPL); or  \u2022  Fair value through Other comprehensive income (FVOCI).  Investments and other financial assets are measured at fair value (level 3). At initial recognition, the Group measures a financial asset at its fair value. Transaction costs of financial assets measured at FVPL are expensed in profit or loss, while these are recognized in Other comprehensive income for financial assets measured at FVOCI.  The Group subsequently measures all equity investments at fair value. Where the group\u2019s management has elected to present fair value gains and losses on equity investments in OCI, there is no subsequent reclassification of fair value gains and losses to profit or loss following the derecognition of the investment. Dividends from such investments continue to be recognized in profit or loss as dividend income as part of the Other operating income. Reference is also made to note 2.4.  At year-end 2022, all equity investments are classified as FVOCI.  The total fair value of the investments amounted to EUR 94.0 million (2021: EUR 83.6 million) at year-end 2022. The total dividend income in 2022 from these investments amounted to EUR 3.0 million (2021: EUR 0.5 million).  Note 9.9 Financial assets and liabilities and credit risk  Financial assets and liabilities      Carrying amount   Fair value   In EUR millions   Note   2022   2021   2022   2021Other financial assets   9.6   94.0   83.6   94.0   83.6  Currency derivatives   6.2   67.4   36.0   67.4   36.0  Financial instruments at fair value     161.4   119.6   161.4   119.6             Loans granted   9.2   45.7   45.6   45.7   45.6  Trade and other receivables   4.2   318.5   259.6   318.5   259.6  Cash and cash equivalents   5.5   33.8   73.4   33.8   73.4  Finance lease receivable   9.2   131.9   131.2   131.9   131.2  Loans and receivables    529.9   509.8   529.9   509.8  Bank overdrafts and short-term borrowings   5.5   -  277.9   -  464.6   -  277.9   -  464.6  US Private Placements   5.5   -  1,500.4   -  1,428.6   -  1,528.5   -  1,611.7  JPY Private Placement   5.5   -  141.0   -  153.5   -  169.2   -  206.1  Bank loans   5.5   -  139.6   -  130.6   -  141.1   -  132.8  Lease liabilities   5.5   -  725.0   -  711.3   -  725.0   -  711.3  Credit facilities and other long-term loans   5.5   -  300.7   -  109.9   -  300.7   -  109.9  Trade creditors   4.3   -  77.1   -  70.1   -  77.1   -  70.1  Other creditors   4.3   -  92.2   -  110.0   -  92.2   -  110.0  Other financial liabilities    -  3,253.9   -  3,178.6   -  3,311.7   -  3,416.5  Net at amortized cost    -  2,724.0   -  2,668.8   -  2,781.8   -  2,906.7             Standby credit facility   5.5,  6.7       769.8   956.2  Standby bank facility   6.7      189.0   133.0  Unrecognized financial instruments         958.8   1,089.2  Determination of fair value for financial instruments  A number of the Group\u2019s accounting policies and disclosures require the determination of fair value for the financial instruments. A fair value measurement is an estimate of the price that would be received upon the sale of an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. Where available, fair value measurements are derived from quoted prices (unadjusted) in active markets for identical assets or liabilities (level 1). In the absence of such information, other observable inputs, either directly (i.e. as prices) or indirectly (i.e. derived from prices), are used to estimate fair values (level 2). No material financial instruments were measured at fair value using level 3 (inputs not based on observable market data). Inputs derived from external sources are corroborated or otherwise verified, as appropriate.   The fair values of the Private Placements, revolving credit facility and other long-term bank loans are measured by discounting the future cash flows using observable market interest information (level 2) as no similar instrument is available due to the specific profiles of the instruments. The calculations include credit spreads based on the most recent borrowing contracts.   The fair values of interest rate swaps, cross-currency interest rate swaps and forward foreign exchange contracts are determined by discounting the future cash flows using the applicable period-end observable yield curve, taking into account credit risk and the risk of non-performance.   In view of the short-term nature or the magnitude of the amounts, the Group considers that the fair value of loans granted, trade and other receivables, cash and cash equivalents, bank overdrafts, credit facilities, other long-term loans and trade creditors are not materially different from their carrying value.  The fair value of the Other equity investments (level 3) are based on discounted cash flow projections based on reliable estimates of future cash flows or recent transactions.  The initial measurement at the trade date of all financial instruments is the fair value. Except for derivatives, the initial measurement of financial instruments is adjusted for directly attributable transaction costs.   ",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfFinancialInstrumentsExplanatory",
    "language": "en",
    "entity": "scheme:724500UL634GFV1KYF10",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
   }
  },
  "pp-value-235-3": {
   "value": "Note 9.4 Pensions and other employee benefits  The majority of employees are either covered by defined benefit plans, defined contribution plans or mandatory external pension plans. The defined benefit plans are plans that apply in the following countries: the United States, Germany and Belgium. These countries mostly operate final-pay pension plans, administrated by pension funds separate from the company.  A Accounting policies  Defined benefit plans  The Group\u2019s net pension obligation is calculated by an independent actuary, using the projected unit credit method. This calculation is performed separately for each plan by estimating the amount of the benefit that employees have earned in relation to their past services. The liability recognized in the balance sheet is the present value of these benefits at the end of the reporting period (defined benefit obligation) less the fair value of plan assets. The defined benefit obligation is determined by discounting the estimated future cash flows using interest rates of high-quality corporate bonds with durations matching the expected terms of the benefits.   The increase in the defined benefit obligation due to the passage of time and the expected return on plan assets, using the same interest rate as for the defined benefit obligation, are included in the pension costs.   Past-service costs are recognized immediately in the statement of income. Actuarial gains and losses arising from experience adjustments and changes in actuarial assumptions are recognized in equity via Other comprehensive income in the period in which they arise.   When a plan is changed, settled or when a plan is curtailed, the resulting change in the defined benefit obligation that relates to past-service or the gain or loss on curtailment is recognized immediately in the statement of income under Personnel expenses. The Group recognizes gains and losses on the settlement of a defined benefit plan when the settlement occurs.  Defined contribution plans  Contributions to defined contribution plans are recognized as an expense in the statement ofincome as incurred.   Key accounting estimates and judgments  The defined benefit obligation is determined on the basis of assumptions for future developments in variables such as salary increase, price index increase, life expectancy and discount rate. All assumptions are assessed at the reporting date. Changes in the assumptions may significantly affect the liabilities and pension costs under the defined benefit plans. The weighted average of these assumptions as well as sensitivities of key assumptions are disclosed in this note.  Pensions and other employee benefits  The table below provides an overview of the movements in the plan assets and defined benefits obligation for the years presented, showing separately the amounts that were recognized in the income statement, the statement of other comprehensive as well as the cash flows for the period.    Plan assets   Defined Benefit Obligation   Total              in EUR millions   2022   2021   2022   2021   2022   2021  Opening balance defined benefits position at 1 January   138.7   117.2   -  172.2   -  165.4   -  33.5   -  48.2  Movements:              Current service costs   \u2013   \u2013   -  6.4   -  6.2   -  6.4   -  6.2  Administration costs and taxes   \u2013   \u2013   -  0.5   -  0.4   -  0.5   -  0.4  Interest income/(expenses)   4.1   3.0   -  4.8   -  3.8   -  0.7   -  0.8  Components of defined benefit income/(costs) recorded in profit or loss  4.1   3.0   -  11.7   -  10.4   -  7.6   -  7.4  Return on plan assets (excluding interest income on plan assets)   -  26.7   8.4   \u2013   \u2013   -  26.7   8.4  Actuarial gains (-) and losses from changes in demographic assumptions (remeasurement)   \u2013   \u2013   -  0.4   2.3   -  0.4   2.3  Actuarial gains (-) and losses from experience   \u2013   \u2013   2.1   1.2   2.1   1.2  Actuarial gains (-) and losses from changes in financial assumptions (remeasurement)   \u2013   \u2013   53.4   5.6   53.4   5.6  Components of defined benefit income/(costs) recorded in other comprehensive income  -  26.7   8.4   55.1   9.1   28.4   17.5  Benefits paid from the pension fund   -  7.8   -  5.6   6.9   4.9   -  0.9   -  0.7  Employer's contributions   7.2   6.5   0.8   0.7   8.0   7.2  Reclassification to held for sale   -  0.8   \u2013   1.2   \u2013   0.4   \u2013  Exchange differences   7.7   9.2   -  9.2   -  11.1   -  1.5   -  1.9  Closing balance defined benefits position at 31 December   122.4   138.7   -  129.1   -  172.2   -  6.7   -  33.5  Other net pension obligations   \u2013   \u2013   -  1.4   -  1.4   -  1.4   -  1.4  Total pension position recognized at 31 December   122.4   138.7   -  130.5   -  173.6   -  8.1   -  34.9               Current liabilities           -  0.2   -  0.2  Non-current liabilities          -  7.9   -  34.7  Net pension obligation recognized at 31 December           -  8.1   -  34.9  1  The defined benefit obligation related to unfunded pension plans amounted to EUR 2.6 million at year-end 2022 (2021: EUR 3.0 million).     Total      in EUR millions   2022   2021Defined benefits obligations Allocated to the plans' participants:      Active members   -  57.6   -  84.8  Deferred members   -  23.5   -  35.9  Pensioners   -  48.0   -  51.5  Defined benefit obligation at 31 December   -  129.1   -  172.2   Market volatility had a positive impact on the Group\u2019s defined benefit plans in 2022, which resulted in a remeasurement gain (gross) of EUR 28.3 million (2021: remeasurement gain of EUR 17.5 million), being recorded, net of tax, in other comprehensive income. These remeasurements were caused by the defined benefit obligation impact of deviations from the assumptions set at the beginning of the year.  Change in the fair value of plan assets and major classes of plan assets  The following tables summarize the characteristics/main elements of the plan assets at 31 December.    Total      in EUR millions   2022   2021Major classes of plan assets     Bonds - investment grade   44.3   47.9  Bonds - high yield   20.5   26.6  Equity instruments   56.7   64.2  Commodities (gold)   0.9   \u2013  Fair value of plan assets at 31 December   122.4   138.7   The investments consist of participations in investment funds from reputable asset managers and are therefore well-diversified, such that the failure of any single investment would not have a material impact on the overall value of the investment fund.  The pension fund has not invested directly in shares of Royal Vopak, parts of the Group or in real estate of the Group.  Expected maturity, contribution and impact on result  The expected maturity analysis of undiscounted pension benefits at 31 December 2022 is as follows:   In EUR millions  2023   2024   2025   2026   2027   2028+   Total  Undiscounted pension benefits   6.1   6.7   7.5   7.2   7.5   256.0   291.0   Based on the latest funding agreements, the employer\u2019s contribution is expected to be around EUR 7.2 million in 2023.  Assumptions and sensitivity analysis  Assumptions    Total        2022   2021  Assumptions based on weighted average at 31 December     Discount rate on net liability   5.11%   2.62%  Expected general salary increase   5.08%   5.03%  Expected price index increase   2.88%   2.81%  Average Life expectancy in years for man aged 65 now:   20.6   20.4  Average Life expectancy in years for women aged 65 now:   22.8   22.7   The discount rates used in the determination of defined benefit obligations and pension expenses are based on high quality corporate bonds (AA) with a duration matching the duration of the pension liabilities. In addition, the calculations were based on recent mortality tables, taking future developments in mortality rates into account through projections or surpluses. Local historical data were used for employee turnover and disability assumptions.  The liabilities and pension expenses related to defined benefit plans are subject to risks regarding changes in discount rates, plan assets and returns derived from these assets, future salary increases, inflation and life expectancy. Such changes can negatively or positively influence the liabilities and necessitate additional future pension charges under IAS 19. The table below shows the estimated impact on the defined benefit obligations for defined benefit plans for each risk variable.  Sensitivity analysis  In EUR millions  Change   Increase   Decrease  Sensitivity assumptions       Price inflation   1.0%   3.9   -  3.4  Salary growth   0.25%   1.1   -  1.0  Discount rates   1.0%   -  14.6   18.0  Life expectation   1  year   3.3   n/a   The sensitivity analysis is based on changes that are realistically possible as at the end of the financial year. Each change in a significant actuarial assumption was analyzed separately as part of the test. Interdependencies were not taken into account.  ",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfClaimsAndBenefitsPaidExplanatory",
    "language": "en",
    "entity": "scheme:724500UL634GFV1KYF10",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
   }
  },
  "pp-value-236-6": {
   "value": "A Accounting policies  Defined benefit plans  The Group\u2019s net pension obligation is calculated by an independent actuary, using the projected unit credit method. This calculation is performed separately for each plan by estimating the amount of the benefit that employees have earned in relation to their past services. The liability recognized in the balance sheet is the present value of these benefits at the end of the reporting period (defined benefit obligation) less the fair value of plan assets. The defined benefit obligation is determined by discounting the estimated future cash flows using interest rates of high-quality corporate bonds with durations matching the expected terms of the benefits.   The increase in the defined benefit obligation due to the passage of time and the expected return on plan assets, using the same interest rate as for the defined benefit obligation, are included in the pension costs.   Past-service costs are recognized immediately in the statement of income. Actuarial gains and losses arising from experience adjustments and changes in actuarial assumptions are recognized in equity via Other comprehensive income in the period in which they arise.   When a plan is changed, settled or when a plan is curtailed, the resulting change in the defined benefit obligation that relates to past-service or the gain or loss on curtailment is recognized immediately in the statement of income under Personnel expenses. The Group recognizes gains and losses on the settlement of a defined benefit plan when the settlement occurs.  Defined contribution plans  Contributions to defined contribution plans are recognized as an expense in the statement ofincome as incurred.   Key accounting estimates and judgments  The defined benefit obligation is determined on the basis of assumptions for future developments in variables such as salary increase, price index increase, life expectancy and discount rate. All assumptions are assessed at the reporting date. Changes in the assumptions may significantly affect the liabilities and pension costs under the defined benefit plans. The weighted average of these assumptions as well as sensitivities of key assumptions are disclosed in this note.  ",
   "dimensions": {
    "concept": "ifrs-full:DescriptionOfAccountingPolicyForTerminationBenefits",
    "language": "en",
    "entity": "scheme:724500UL634GFV1KYF10",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
   }
  },
  "pp-value-245-2": {
   "value": "Note 9.5 Pr<span class=\"_ _3\"/>ovisions   A<span class=\"_ _1e\"> </span><span class=\"ff3 fs9\">Accounting policies  </span>Pro<span class=\"_ _7\"/>visions are recognized f<span class=\"_ _7\"/>or legal or constructiv<span class=\"_ _7\"/>e obligations that arose from past ev<span class=\"_ _7\"/>ents, the amount of whic<span class=\"_ _3\"/>h, though uncert<span class=\"_ _5\"/>ain, can be reliably estimated and where it is probable that the set<span class=\"_ _3\"/>tlement of the obligations will ent<span class=\"_ _5\"/>ail a cash outflow<span class=\"_ _9\"/>. Provisions are measured at the present value of the e<span class=\"_ _7\"/>xpenditures e<span class=\"_ _7\"/>xpected to be required to set<span class=\"_ _3\"/>tle the obligation using a pre-tax rate that reflects current market assessments of the time v<span class=\"_ _7\"/>alue of money and the risks specific to the obligation. <span class=\"_ _9\"/>T<span class=\"_ _7\"/>he increase in the provision due to the passage of time is recognized as interest e<span class=\"_ _7\"/>xpense.   In accordance with current legislation, en<span class=\"_ _7\"/>vironment<span class=\"_ _5\"/>al plans and other measures to be adopted are agreed with local, regional and national authorities as appropriate. A<span class=\"_ _7\"/>s soon as suc<span class=\"_ _3\"/>h plans are approved or other statutory obligations arise, a provision is formed based on the most reliable estimate possible of the future e<span class=\"_ _7\"/>xpenses.   A provision f<span class=\"_ _7\"/>or reorganization is recognized when <span class=\"_ _9\"/>V<span class=\"_ _3\"/>opak has approv<span class=\"_ _7\"/>ed a det<span class=\"_ _5\"/>ailed and formaliz<span class=\"_ _7\"/>ed reorganization plan and when the reorganization has either commenced or been announced.  A number of sites hav<span class=\"_ _7\"/>e to be restored to their original condition before being handed bac<span class=\"_ _3\"/>k at the end of the contractual period. If and when it is probable that a site will be decommissioned a provision is f<span class=\"_ _7\"/>ormed based on the most reliable estimate possible of future e<span class=\"_ _7\"/>xpenses.  Pro<span class=\"_ _7\"/>visions for other def<span class=\"_ _3\"/>erred long-term employ<span class=\"_ _7\"/>ee benefits, other than pensions and other employ<span class=\"_ _7\"/>ee benefits, for e<span class=\"_ _7\"/>xample, redundancy benefits, anniversary incentives and long-term remuneration set<span class=\"_ _3\"/>tled in cash, are calculated using the method for defined benefit plans. An<span class=\"_ _7\"/>y actuarial results arising are recogniz<span class=\"_ _7\"/>ed immediately in the statement of income. <span class=\"_ _9\"/>The same applies to any c<span class=\"_ _3\"/>hanges relating to past ser<span class=\"_ _5\"/>vice.  Ke<span class=\"_ _7\"/>y accounting estimates and judgments  The amount recogniz<span class=\"_ _7\"/>ed as a provision is management\u2019<span class=\"_ _9\"/>s best estimate of the amount required to set<span class=\"_ _7\"/>tle the obligation. <span class=\"_ _9\"/>The outcome depends on fut<span class=\"_ _7\"/>ure ev<span class=\"_ _7\"/>ents that are uncertain by nature. In assessing the likely outcome of la<span class=\"_ _7\"/>wsuits and tax disputes, management also bases its assessment on external legal assistance and established precedents.    The Group is e<span class=\"_ _7\"/>xposed to risks regarding environmental obligations arising from past activities. For example, a number of sites ha<span class=\"_ _7\"/>ve to be decontaminated before being handed bac<span class=\"_ _3\"/>k at the end of the contractual period. Under cur<span class=\"_ _7\"/>rent legislation, environmental plans and any other measures to be adopted hav<span class=\"_ _7\"/>e to be agreed with local, regional and national authorities as appropriate. As soon as suc<span class=\"_ _7\"/>h plans hav<span class=\"_ _7\"/>e been approv<span class=\"_ _7\"/>ed or other legal obligations arose, a provision is formed based on the most reliable estimate of possible future e<span class=\"_ _7\"/>xpenses. Given the degree of comple<span class=\"_ _7\"/>xit<span class=\"_ _5\"/>y and uncertaint<span class=\"_ _5\"/>y in making suc<span class=\"_ _3\"/>h estimates, this does not guarantee that no additional costs will arise in the future.  Mov<span class=\"_ _3\"/>ements in pro<span class=\"_ _7\"/>visions  In EUR millions  <span class=\"_ _139\"> </span>Envir<span class=\"_ _7\"/>onmental <span class=\"_ _23\"> </span>liabilities  <span class=\"_ _38\"> </span>Other  <span class=\"_ _22b\"> </span>T<span class=\"_ _9\"/>otalNon-current liabilities  <span class=\"_ _3e\"> </span><span class=\"ws8e\">1<span class=\"_ _7\"/>0.9  <span class=\"_ _d4\"> </span>5.9  <span class=\"_ _2e\"> </span>1<span class=\"_ _7\"/>6.8  </span>Current liabilities  <span class=\"_ _2e5\"> </span><span class=\"ws8e\">6.2  <span class=\"_ _140\"> </span>1<span class=\"_ _7\"/>8.1  <span class=\"_ _c9\"> </span>24.3  </span>Balance at 31 December 2021  <span class=\"_ _68\"> </span><span class=\"wsb\">17<span class=\"_ _1\"/>.1  <span class=\"_ _ea\"> </span>24.0  <span class=\"_ _ea\"> </span><span class=\"fc0\">41.1  </span></span>Mov<span class=\"_ _7\"/>ements:  <span class=\"_ _12a\"> </span><span class=\"fs11 fc3\"> <span class=\"_ _7c\"> </span> <span class=\"_ _7c\"> </span> </span>Additions  <span class=\"_ _207\"> </span><span class=\"ws8e\">1<span class=\"_ _9\"/>1<span class=\"_ _9\"/>.5  <span class=\"_ _11e\"> </span>7<span class=\"_ _1\"/>.0  <span class=\"_ _140\"> </span>1<span class=\"_ _7\"/>8.5  </span>Withdrawals  <span class=\"_ _2d9\"> </span><span class=\"ws8e\">- <span class=\"_ _23\"> </span>3.3  <span class=\"_ _bd\"> </span>- <span class=\"_ _c\"> </span>12.0  <span class=\"_ _bd\"> </span>- <span class=\"_ _c\"> </span>15.3  </span>Releases  <span class=\"_ _129\"> </span><span class=\"ws8e\">\u2013  <span class=\"_ _d4\"> </span>0.2  <span class=\"_ _d0\"> </span>0.2  </span>Exc<span class=\"_ _3\"/>hange diff<span class=\"_ _3\"/>erences  <span class=\"_ _175\"> </span><span class=\"ws8e\">0.2  <span class=\"_ _d4\"> </span>0.1  <span class=\"_ _d0\"> </span>0.3  </span>Balance at 31 December 2022  <span class=\"_ _2e6\"> </span><span class=\"wsb\">25.5  <span class=\"_ _ea\"> </span>19.3  <span class=\"_ _d2\"> </span><span class=\"fc0\">44.8  </span></span> <span class=\"_ _25e\"> </span> <span class=\"_ _7c\"> </span> <span class=\"_ _7c\"> </span> Non-current liabilities  <span class=\"_ _56\"> </span><span class=\"ws8e\">21<span class=\"_ _9\"/>.2  <span class=\"_ _d4\"> </span>5.4  <span class=\"_ _c9\"> </span>26.6  </span>Current liabilities  <span class=\"_ _2e5\"> </span><span class=\"ws8e\">4.3  <span class=\"_ _140\"> </span>1<span class=\"_ _7\"/>3.9  <span class=\"_ _140\"> </span>18.2  </span>Balance at 31 December 2022  <span class=\"_ _2e6\"> </span><span class=\"wsb\">25.5  <span class=\"_ _ea\"> </span>19.3  <span class=\"_ _d2\"> </span><span class=\"fc0\">44.8  </span></span> <span class=\"_ _25e\"> </span> <span class=\"_ _7c\"> </span> <span class=\"_ _7c\"> </span> Expected withdr<span class=\"_ _7\"/>awals  <span class=\"_ _2b1\"> </span><span class=\"fs11 fc3\"> <span class=\"_ _7c\"> </span> <span class=\"_ _46\"> </span> </span>&lt; 1 year  <span class=\"_ _14e\"> </span>4.3  <span class=\"_ _140\"> </span>1<span class=\"_ _7\"/>3.9  <span class=\"_ _140\"> </span>18.22nd year  <span class=\"_ _5b\"> </span><span class=\"ws8e\">5.9  <span class=\"_ _d0\"> </span>2.4  <span class=\"_ _d4\"> </span>8.3  </span>3rd year  <span class=\"_ _248\"> </span><span class=\"ws8e\">2.6  <span class=\"_ _d4\"> </span>0.3  <span class=\"_ _d0\"> </span>2.9  </span>4th year  <span class=\"_ _248\"> </span><span class=\"ws8e\">2.0  <span class=\"_ _d4\"> </span>0.5  <span class=\"_ _d0\"> </span>2.5  </span>5th year  <span class=\"_ _223\"> </span><span class=\"ws8e\">1<span class=\"_ _8\"/>.4  <span class=\"_ _d0\"> </span>0.2  <span class=\"_ _118\"> </span>1<span class=\"_ _9\"/>.6  </span>&gt; 5th year  <span class=\"_ _2e7\"> </span>9.3  <span class=\"_ _d4\"> </span>2.0  <span class=\"_ _159\"> </span>1<span class=\"_ _3\"/>1<span class=\"_ _9\"/>.3T<span class=\"_ _8\"/>otal  <span class=\"_ _242\"> </span><span class=\"wsb\">25.5  <span class=\"_ _ea\"> </span>19.3  <span class=\"_ _ea\"> </span><span class=\"fc0\">44.8  </span></span>Envir<span class=\"_ _3\"/>onmental provisions  V<span class=\"_ _3\"/>opak is obliged to clean up soil contamination at diff<span class=\"_ _3\"/>erent locations. In general, an accurate and reliable estimate of the provision f<span class=\"_ _7\"/>or this environmental risk can only be made af<span class=\"_ _3\"/>ter conducting a thorough sur<span class=\"_ _5\"/>ve<span class=\"_ _7\"/>y and drawing up a management plan f<span class=\"_ _7\"/>or the site, on the basis of whic<span class=\"_ _3\"/>h the governmental authorities issue an order<span class=\"_ _3\"/>. <span class=\"_ _9\"/>T<span class=\"_ _7\"/>he expected timing of the fut<span class=\"_ _7\"/>ure cash outflows is reflected in the e<span class=\"_ _7\"/>xpected withdraw<span class=\"_ _7\"/>als, how<span class=\"_ _7\"/>ev<span class=\"_ _7\"/>er the timing of when the soil remediation will occur remains uncertain.   The en<span class=\"_ _7\"/>vironmental provisions primarily relate to historical contaminations. Financial exposures to potential new soil contaminations in relation to products spills are very limited. If a spill or<span class=\"_ _5\"/> any un<span class=\"_ _7\"/>wanted disc<span class=\"_ _3\"/>harge takes place, emergency mitigation procedures are in place at all the terminals whic<span class=\"_ _3\"/>h cont<span class=\"_ _5\"/>ain and remediate the spill immediately<span class=\"_ _3\"/>, according to the <span class=\"_ _3\"/>V<span class=\"_ _3\"/>opak standards.<span class=\"_ _5\"/> <span class=\"_ _2\"/> <span class=\"_ _2\"/> At year<span class=\"_ _9\"/>-end 2022, the total provision f<span class=\"_ _7\"/>or environmental liabilities amounted to EUR 25.5 million (2021: EUR 1<span class=\"_ _3\"/>7<span class=\"_ _d\"/>.1 million). <span class=\"_ _9\"/>T<span class=\"_ _7\"/>he provision is mainly related to en<span class=\"_ _7\"/>vironment<span class=\"_ _5\"/>al liabilities at various terminals in the divisions Europe &amp; <span class=\"_ _7\"/>Africa and Americas. During 2022, additions for an amount of EUR 1<span class=\"_ _8\"/>1<span class=\"_ _8\"/>.5 million (2021: EUR 5.0 million) million have been recorded.   Other pro<span class=\"_ _3\"/>visions  The other pro<span class=\"_ _7\"/>visions primarily relate to legal and claims-related provisions and the pro<span class=\"_ _7\"/>visions for the L<span class=\"_ _9\"/>TIPs. Man<span class=\"_ _7\"/>y of the claims-related provisions concern insured ev<span class=\"_ _3\"/>ents, for whic<span class=\"_ _7\"/>h the receivable on the insurance compan<span class=\"_ _7\"/>y is recognized separately under the Other receiv<span class=\"_ _7\"/>ables.  L<span class=\"_ _9\"/>TIPs  Other provisions included an amount of EUR 0.7 million (2021: EUR 2.7 million) f<span class=\"_ _7\"/>or the L<span class=\"_ _9\"/>TCPs (see note 7<span class=\"_ _d\"/>.2), and none for the cash-set<span class=\"_ _3\"/>tled share-based payments of the L<span class=\"_ _9\"/>TSPs in 2022 and 2021 (see note 1 to the first table of note 7<span class=\"_ _d\"/>.2). EUR 0.4 million of the tot<span class=\"_ _5\"/>al provision in relation to the L<span class=\"_ _9\"/>TIPs will be set<span class=\"_ _7\"/>tled in 2023 (2021: EUR 2.3 million).    The mo<span class=\"_ _7\"/>vement in the pro<span class=\"_ _7\"/>visions in connection with the L<span class=\"_ _9\"/>TIPs recognized in the income statement amounted to an expense of EUR 0.7 million in 2022 (2021: expense of EUR 0.7 million). Ref<span class=\"_ _3\"/>erence is also made to note 7<span class=\"_ _d\"/>.2.  Other  At year<span class=\"_ _9\"/>-end 2022, EUR 1<span class=\"_ _3\"/>8.6 million (2021: EUR 21<span class=\"_ _9\"/>.3 million) w<span class=\"_ _7\"/>as recognized under the Other provisions, whic<span class=\"_ _3\"/>h primarily comprises various smaller legal cases and claim set<span class=\"_ _3\"/>tlements of whic<span class=\"_ _3\"/>h the larger part was related to insured ev<span class=\"_ _7\"/>ents. <span class=\"_ _9\"/>T<span class=\"_ _7\"/>he movement in these other provisions amounted to an e<span class=\"_ _7\"/>xpense of EUR 6.3 million in 2022 (2021: EUR 5.3 million).   No other individual items within the remaining provisions are considered to be individually material. <span class=\"_ _9\"/>T<span class=\"_ _7\"/>he company e<span class=\"_ _7\"/>xpects that the current cases provided f<span class=\"_ _7\"/>or will be substantively resolved within the coming fiv<span class=\"_ _7\"/>e years.  Other contingencies  Envir<span class=\"_ _7\"/>onmental and mak<span class=\"_ _7\"/>e good oblig<span class=\"_ _7\"/>ations  The Group is e<span class=\"_ _7\"/>xposed to risks regarding environmental and make good obligations arising from past activities. F<span class=\"_ _7\"/>or example, a number of sites ha<span class=\"_ _7\"/>ve to be decontaminated and restored to their original condition before being handed bac<span class=\"_ _3\"/>k at the end of the contractual period. Under current legislation, en<span class=\"_ _7\"/>vironment<span class=\"_ _5\"/>al plans and any other measures to be adopted ha<span class=\"_ _3\"/>ve to be agreed with local, regional and national authorities as appropriate. A<span class=\"_ _7\"/>s soon as suc<span class=\"_ _3\"/>h plans are approv<span class=\"_ _7\"/>ed or other legal obligations arise, a provision is f<span class=\"_ _7\"/>ormed based on the most reliable estimate possible of future e<span class=\"_ _7\"/>xpenses. <span class=\"_ _8\"/>The Executiv<span class=\"_ _7\"/>e Board is of the opinion that the currently recogniz<span class=\"_ _7\"/>ed provisions are adequate, based on information cur<span class=\"_ _7\"/>rently av<span class=\"_ _7\"/>ailable. How<span class=\"_ _7\"/>ev<span class=\"_ _7\"/>er<span class=\"_ _3\"/>, given the degree of dif<span class=\"_ _3\"/>ficult<span class=\"_ _5\"/>y in making estimates, this does not guarantee that no additional costs will arise going for<span class=\"_ _5\"/>ward.  ",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfProvisionsExplanatory",
    "language": "en",
    "entity": "scheme:724500UL634GFV1KYF10",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
   }
  },
  "pp-value-245-4": {
   "value": "Note 9.5 Pr<span class=\"_ _3\"/>ovisions   A<span class=\"_ _1e\"> </span><span class=\"ff3 fs9\">Accounting policies  </span>Pro<span class=\"_ _7\"/>visions are recognized f<span class=\"_ _7\"/>or legal or constructiv<span class=\"_ _7\"/>e obligations that arose from past ev<span class=\"_ _7\"/>ents, the amount of whic<span class=\"_ _3\"/>h, though uncert<span class=\"_ _5\"/>ain, can be reliably estimated and where it is probable that the set<span class=\"_ _3\"/>tlement of the obligations will ent<span class=\"_ _5\"/>ail a cash outflow<span class=\"_ _9\"/>. Provisions are measured at the present value of the e<span class=\"_ _7\"/>xpenditures e<span class=\"_ _7\"/>xpected to be required to set<span class=\"_ _3\"/>tle the obligation using a pre-tax rate that reflects current market assessments of the time v<span class=\"_ _7\"/>alue of money and the risks specific to the obligation. <span class=\"_ _9\"/>T<span class=\"_ _7\"/>he increase in the provision due to the passage of time is recognized as interest e<span class=\"_ _7\"/>xpense.   In accordance with current legislation, en<span class=\"_ _7\"/>vironment<span class=\"_ _5\"/>al plans and other measures to be adopted are agreed with local, regional and national authorities as appropriate. A<span class=\"_ _7\"/>s soon as suc<span class=\"_ _3\"/>h plans are approved or other statutory obligations arise, a provision is formed based on the most reliable estimate possible of the future e<span class=\"_ _7\"/>xpenses.   A provision f<span class=\"_ _7\"/>or reorganization is recognized when <span class=\"_ _9\"/>V<span class=\"_ _3\"/>opak has approv<span class=\"_ _7\"/>ed a det<span class=\"_ _5\"/>ailed and formaliz<span class=\"_ _7\"/>ed reorganization plan and when the reorganization has either commenced or been announced.  A number of sites hav<span class=\"_ _7\"/>e to be restored to their original condition before being handed bac<span class=\"_ _3\"/>k at the end of the contractual period. If and when it is probable that a site will be decommissioned a provision is f<span class=\"_ _7\"/>ormed based on the most reliable estimate possible of future e<span class=\"_ _7\"/>xpenses.  Pro<span class=\"_ _7\"/>visions for other def<span class=\"_ _3\"/>erred long-term employ<span class=\"_ _7\"/>ee benefits, other than pensions and other employ<span class=\"_ _7\"/>ee benefits, for e<span class=\"_ _7\"/>xample, redundancy benefits, anniversary incentives and long-term remuneration set<span class=\"_ _3\"/>tled in cash, are calculated using the method for defined benefit plans. An<span class=\"_ _7\"/>y actuarial results arising are recogniz<span class=\"_ _7\"/>ed immediately in the statement of income. <span class=\"_ _9\"/>The same applies to any c<span class=\"_ _3\"/>hanges relating to past ser<span class=\"_ _5\"/>vice.  Ke<span class=\"_ _7\"/>y accounting estimates and judgments  The amount recogniz<span class=\"_ _7\"/>ed as a provision is management\u2019<span class=\"_ _9\"/>s best estimate of the amount required to set<span class=\"_ _7\"/>tle the obligation. <span class=\"_ _9\"/>The outcome depends on fut<span class=\"_ _7\"/>ure ev<span class=\"_ _7\"/>ents that are uncertain by nature. In assessing the likely outcome of la<span class=\"_ _7\"/>wsuits and tax disputes, management also bases its assessment on external legal assistance and established precedents.    The Group is e<span class=\"_ _7\"/>xposed to risks regarding environmental obligations arising from past activities. For example, a number of sites ha<span class=\"_ _7\"/>ve to be decontaminated before being handed bac<span class=\"_ _3\"/>k at the end of the contractual period. Under cur<span class=\"_ _7\"/>rent legislation, environmental plans and any other measures to be adopted hav<span class=\"_ _7\"/>e to be agreed with local, regional and national authorities as appropriate. As soon as suc<span class=\"_ _7\"/>h plans hav<span class=\"_ _7\"/>e been approv<span class=\"_ _7\"/>ed or other legal obligations arose, a provision is formed based on the most reliable estimate of possible future e<span class=\"_ _7\"/>xpenses. Given the degree of comple<span class=\"_ _7\"/>xit<span class=\"_ _5\"/>y and uncertaint<span class=\"_ _5\"/>y in making suc<span class=\"_ _3\"/>h estimates, this does not guarantee that no additional costs will arise in the future.  Envir<span class=\"_ _3\"/>onmental provisions  V<span class=\"_ _3\"/>opak is obliged to clean up soil contamination at diff<span class=\"_ _3\"/>erent locations. In general, an accurate and reliable estimate of the provision f<span class=\"_ _7\"/>or this environmental risk can only be made af<span class=\"_ _3\"/>ter conducting a thorough sur<span class=\"_ _5\"/>ve<span class=\"_ _7\"/>y and drawing up a management plan f<span class=\"_ _7\"/>or the site, on the basis of whic<span class=\"_ _3\"/>h the governmental authorities issue an order<span class=\"_ _3\"/>. <span class=\"_ _9\"/>T<span class=\"_ _7\"/>he expected timing of the fut<span class=\"_ _7\"/>ure cash outflows is reflected in the e<span class=\"_ _7\"/>xpected withdraw<span class=\"_ _7\"/>als, how<span class=\"_ _7\"/>ev<span class=\"_ _7\"/>er the timing of when the soil remediation will occur remains uncertain.   The en<span class=\"_ _7\"/>vironmental provisions primarily relate to historical contaminations. Financial exposures to potential new soil contaminations in relation to products spills are very limited. If a spill or<span class=\"_ _5\"/> any un<span class=\"_ _7\"/>wanted disc<span class=\"_ _3\"/>harge takes place, emergency mitigation procedures are in place at all the terminals whic<span class=\"_ _3\"/>h cont<span class=\"_ _5\"/>ain and remediate the spill immediately<span class=\"_ _3\"/>, according to the <span class=\"_ _3\"/>V<span class=\"_ _3\"/>opak standards.<span class=\"_ _5\"/> <span class=\"_ _2\"/> <span class=\"_ _2\"/> At year<span class=\"_ _9\"/>-end 2022, the total provision f<span class=\"_ _7\"/>or environmental liabilities amounted to EUR 25.5 million (2021: EUR 1<span class=\"_ _3\"/>7<span class=\"_ _d\"/>.1 million). <span class=\"_ _9\"/>T<span class=\"_ _7\"/>he provision is mainly related to en<span class=\"_ _7\"/>vironment<span class=\"_ _5\"/>al liabilities at various terminals in the divisions Europe &amp; <span class=\"_ _7\"/>Africa and Americas. During 2022, additions for an amount of EUR 1<span class=\"_ _8\"/>1<span class=\"_ _8\"/>.5 million (2021: EUR 5.0 million) million have been recorded.   Other contingencies  Envir<span class=\"_ _7\"/>onmental and mak<span class=\"_ _7\"/>e good oblig<span class=\"_ _7\"/>ations  The Group is e<span class=\"_ _7\"/>xposed to risks regarding environmental and make good obligations arising from past activities. F<span class=\"_ _7\"/>or example, a number of sites ha<span class=\"_ _7\"/>ve to be decontaminated and restored to their original condition before being handed bac<span class=\"_ _3\"/>k at the end of the contractual period. Under current legislation, en<span class=\"_ _7\"/>vironment<span class=\"_ _5\"/>al plans and any other measures to be adopted ha<span class=\"_ _3\"/>ve to be agreed with local, regional and national authorities as appropriate. A<span class=\"_ _7\"/>s soon as suc<span class=\"_ _3\"/>h plans are approv<span class=\"_ _7\"/>ed or other legal obligations arise, a provision is f<span class=\"_ _7\"/>ormed based on the most reliable estimate possible of future e<span class=\"_ _7\"/>xpenses. <span class=\"_ _8\"/>The Executiv<span class=\"_ _7\"/>e Board is of the opinion that the currently recogniz<span class=\"_ _7\"/>ed provisions are adequate, based on information cur<span class=\"_ _7\"/>rently av<span class=\"_ _7\"/>ailable. How<span class=\"_ _7\"/>ev<span class=\"_ _7\"/>er<span class=\"_ _3\"/>, given the degree of dif<span class=\"_ _3\"/>ficult<span class=\"_ _5\"/>y in making estimates, this does not guarantee that no additional costs will arise going for<span class=\"_ _5\"/>ward.  ",
   "dimensions": {
    "concept": "ifrs-full:DescriptionOfAccountingPolicyForProvisionsExplanatory",
    "language": "en",
    "entity": "scheme:724500UL634GFV1KYF10",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
   }
  },
  "pp-value-246-5": {
   "value": "In accordance with current legislation, en<span class=\"_ _7\"/>vironment<span class=\"_ _5\"/>al plans and other measures to be adopted are agreed with local, regional and national authorities as appropriate. A<span class=\"_ _7\"/>s soon as suc<span class=\"_ _3\"/>h plans are approved or other statutory obligations arise, a provision is formed based on the most reliable estimate possible of the future e<span class=\"_ _7\"/>xpenses.   Ke<span class=\"_ _7\"/>y accounting estimates and judgments  The amount recogniz<span class=\"_ _7\"/>ed as a provision is management\u2019<span class=\"_ _9\"/>s best estimate of the amount required to set<span class=\"_ _7\"/>tle the obligation. <span class=\"_ _9\"/>The outcome depends on fut<span class=\"_ _7\"/>ure ev<span class=\"_ _7\"/>ents that are uncertain by nature. In assessing the likely outcome of la<span class=\"_ _7\"/>wsuits and tax disputes, management also bases its assessment on external legal assistance and established precedents.    The Group is e<span class=\"_ _7\"/>xposed to risks regarding environmental obligations arising from past activities. For example, a number of sites ha<span class=\"_ _7\"/>ve to be decontaminated before being handed bac<span class=\"_ _3\"/>k at the end of the contractual period. Under cur<span class=\"_ _7\"/>rent legislation, environmental plans and any other measures to be adopted hav<span class=\"_ _7\"/>e to be agreed with local, regional and national authorities as appropriate. As soon as suc<span class=\"_ _7\"/>h plans hav<span class=\"_ _7\"/>e been approv<span class=\"_ _7\"/>ed or other legal obligations arose, a provision is formed based on the most reliable estimate of possible future e<span class=\"_ _7\"/>xpenses. Given the degree of comple<span class=\"_ _7\"/>xit<span class=\"_ _5\"/>y and uncertaint<span class=\"_ _5\"/>y in making suc<span class=\"_ _3\"/>h estimates, this does not guarantee that no additional costs will arise in the future.  Envir<span class=\"_ _3\"/>onmental provisions  V<span class=\"_ _3\"/>opak is obliged to clean up soil contamination at diff<span class=\"_ _3\"/>erent locations. In general, an accurate and reliable estimate of the provision f<span class=\"_ _7\"/>or this environmental risk can only be made af<span class=\"_ _3\"/>ter conducting a thorough sur<span class=\"_ _5\"/>ve<span class=\"_ _7\"/>y and drawing up a management plan f<span class=\"_ _7\"/>or the site, on the basis of whic<span class=\"_ _3\"/>h the governmental authorities issue an order<span class=\"_ _3\"/>. <span class=\"_ _9\"/>T<span class=\"_ _7\"/>he expected timing of the fut<span class=\"_ _7\"/>ure cash outflows is reflected in the e<span class=\"_ _7\"/>xpected withdraw<span class=\"_ _7\"/>als, how<span class=\"_ _7\"/>ev<span class=\"_ _7\"/>er the timing of when the soil remediation will occur remains uncertain.   The en<span class=\"_ _7\"/>vironmental provisions primarily relate to historical contaminations. Financial exposures to potential new soil contaminations in relation to products spills are very limited. If a spill or<span class=\"_ _5\"/> any un<span class=\"_ _7\"/>wanted disc<span class=\"_ _3\"/>harge takes place, emergency mitigation procedures are in place at all the terminals whic<span class=\"_ _3\"/>h cont<span class=\"_ _5\"/>ain and remediate the spill immediately<span class=\"_ _3\"/>, according to the <span class=\"_ _3\"/>V<span class=\"_ _3\"/>opak standards.<span class=\"_ _5\"/> <span class=\"_ _2\"/> <span class=\"_ _2\"/> At year<span class=\"_ _9\"/>-end 2022, the total provision f<span class=\"_ _7\"/>or environmental liabilities amounted to EUR 25.5 million (2021: EUR 1<span class=\"_ _3\"/>7<span class=\"_ _d\"/>.1 million). <span class=\"_ _9\"/>T<span class=\"_ _7\"/>he provision is mainly related to en<span class=\"_ _7\"/>vironment<span class=\"_ _5\"/>al liabilities at various terminals in the divisions Europe &amp; <span class=\"_ _7\"/>Africa and Americas. During 2022, additions for an amount of EUR 1<span class=\"_ _8\"/>1<span class=\"_ _8\"/>.5 million (2021: EUR 5.0 million) million have been recorded.   Other contingencies  Envir<span class=\"_ _7\"/>onmental and mak<span class=\"_ _7\"/>e good oblig<span class=\"_ _7\"/>ations  The Group is e<span class=\"_ _7\"/>xposed to risks regarding environmental and make good obligations arising from past activities. F<span class=\"_ _7\"/>or example, a number of sites ha<span class=\"_ _7\"/>ve to be decontaminated and restored to their original condition before being handed bac<span class=\"_ _3\"/>k at the end of the contractual period. Under current legislation, en<span class=\"_ _7\"/>vironment<span class=\"_ _5\"/>al plans and any other measures to be adopted ha<span class=\"_ _3\"/>ve to be agreed with local, regional and national authorities as appropriate. A<span class=\"_ _7\"/>s soon as suc<span class=\"_ _3\"/>h plans are approv<span class=\"_ _7\"/>ed or other legal obligations arise, a provision is f<span class=\"_ _7\"/>ormed based on the most reliable estimate possible of future e<span class=\"_ _7\"/>xpenses. <span class=\"_ _8\"/>The Executiv<span class=\"_ _7\"/>e Board is of the opinion that the currently recogniz<span class=\"_ _7\"/>ed provisions are adequate, based on information cur<span class=\"_ _7\"/>rently av<span class=\"_ _7\"/>ailable. How<span class=\"_ _7\"/>ev<span class=\"_ _7\"/>er<span class=\"_ _3\"/>, given the degree of dif<span class=\"_ _3\"/>ficult<span class=\"_ _5\"/>y in making estimates, this does not guarantee that no additional costs will arise going for<span class=\"_ _5\"/>ward.  ",
   "dimensions": {
    "concept": "ifrs-full:DescriptionOfAccountingPolicyForEnvironmentRelatedExpenseExplanatory",
    "language": "en",
    "entity": "scheme:724500UL634GFV1KYF10",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
   }
  },
  "pp-value-255-4": {
   "value": "Note 9.6 Investments and other financial assets  The group has investments in the equity of other entities which do not classify as either a subsidiary, joint venture or associate. These investments primarily concern the investments in Sabtank in Saudi Arabia, Vopak Terminal Venezuela and the investments held by Vopak Ventures B.V. These investments in unlisted entities are not held for trading and are considered to be strategic investments.  A Accounting policies  The group makes an irrevocable election on an investment-by-investment basis at the time of initial recognition to measure these investments either as:  \u2022  Fair value through profit and loss (FVPL); or  \u2022  Fair value through Other comprehensive income (FVOCI).  Investments and other financial assets are measured at fair value (level 3). At initial recognition, the Group measures a financial asset at its fair value. Transaction costs of financial assets measured at FVPL are expensed in profit or loss, while these are recognized in Other comprehensive income for financial assets measured at FVOCI.  The Group subsequently measures all equity investments at fair value. Where the group\u2019s management has elected to present fair value gains and losses on equity investments in OCI, there is no subsequent reclassification of fair value gains and losses to profit or loss following the derecognition of the investment. Dividends from such investments continue to be recognized in profit or loss as dividend income as part of the Other operating income. Reference is also made to note 2.4.  At year-end 2022, all equity investments are classified as FVOCI.  The total fair value of the investments amounted to EUR 94.0 million (2021: EUR 83.6 million) at year-end 2022. The total dividend income in 2022 from these investments amounted to EUR 3.0 million (2021: EUR 0.5 million).  INVESTMENTS  Finland  Aeromon Oy (15.07%)  Germany  Hydrogenious LOHC Technologies GmbH (10.3%)  The Netherlands  Elestor B.V. (5.18%)    Falcker Holding B.V. (25.4%)   Harbour Oil B.V. (33.3)   Harbour Stone B.V. (24.9%)   HyET Energy Systems B.V. (10.1%)   HyET Holding B.V. (5%)   HyET Hydrogen B.V. (5%)   HyperSoniq B.V. (25.5%)   Teqplay B.V. (24%)   TWTG Group B.V. (30%)           Xycle  Europoort  B.V.  (33.33%)   Saudi Arabia  SABIC Terminal Services Company Ltd. / Sabtank (10%)  Singapore  Performance Rotors Pte. Ltd. (20%)  United Kingdom  Advanced 3D Laser Solutions Limited (25%)  United States  Aquacycl Inc. (15%)   Data.world Inc. (2.17%)  Venezuela  Vopak Venezuela S.A. (100%)  ",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfInvestmentsOtherThanInvestmentsAccountedForUsingEquityMethodExplanatory",
    "language": "en",
    "entity": "scheme:724500UL634GFV1KYF10",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
   }
  },
  "pp-value-255-6": {
   "value": "Note 9.6 Investments and other financial assets  The group has investments in the equity of other entities which do not classify as either a subsidiary, joint venture or associate. These investments primarily concern the investments in Sabtank in Saudi Arabia, Vopak Terminal Venezuela and the investments held by Vopak Ventures B.V. These investments in unlisted entities are not held for trading and are considered to be strategic investments.  A Accounting policies  The group makes an irrevocable election on an investment-by-investment basis at the time of initial recognition to measure these investments either as:  \u2022  Fair value through profit and loss (FVPL); or  \u2022  Fair value through Other comprehensive income (FVOCI).  Investments and other financial assets are measured at fair value (level 3). At initial recognition, the Group measures a financial asset at its fair value. Transaction costs of financial assets measured at FVPL are expensed in profit or loss, while these are recognized in Other comprehensive income for financial assets measured at FVOCI.  The Group subsequently measures all equity investments at fair value. Where the group\u2019s management has elected to present fair value gains and losses on equity investments in OCI, there is no subsequent reclassification of fair value gains and losses to profit or loss following the derecognition of the investment. Dividends from such investments continue to be recognized in profit or loss as dividend income as part of the Other operating income. Reference is also made to note 2.4.  At year-end 2022, all equity investments are classified as FVOCI.  The total fair value of the investments amounted to EUR 94.0 million (2021: EUR 83.6 million) at year-end 2022. The total dividend income in 2022 from these investments amounted to EUR 3.0 million (2021: EUR 0.5 million).  ",
   "dimensions": {
    "concept": "ifrs-full:DescriptionOfAccountingPolicyForInvestmentsOtherThanInvestmentsAccountedForUsingEquityMethodExplanatory",
    "language": "en",
    "entity": "scheme:724500UL634GFV1KYF10",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
   }
  },
  "pp-value-256-2": {
   "value": "Note 9.7 Investment commitments undertaken  The investment commitments undertaken by the Group for subsidiaries amounted to EUR 113.7 million as at 31 December 2022 (2021: EUR 85.4 million), and were primarily related to property, plant and equipment.  Note 9.8 Contingent assets and contingent liabilities  Contingencies in respect of joint ventures and associates    Joint ventures   Associates   Total              31-Dec-31-Dec-31-Dec-31-Dec-31-Dec-31-Dec-In EUR millions  2022  2021  2022  2021  2022  2021  Commitments to provide debt or equity funding   20.8   16.1   \u2013   \u2013   20.8   16.1  Guarantees and securities provided   105.1  98.7   7.0   11.4   112.1  110.1   The amounts of guarantees and securities can potentially be called within one year.   The joint venture and associates of the Group are currently, and may from time to time become, involved in a number of legal proceedings, including inquiries from, or discussions with, governmental authorities (including tax authorities) that are incidental to their operations. For the contingent liabilities of the joint ventures and associates as at year-end related to legal cases, it is based on the current facts and circumstances not believed that they may have a material adverse effect on the financial position or profitability of the Group. Due to inherent uncertainties, the Group cannot make any accurate quantification of any cost, or timing of such cost, which may arise from any of the legal proceedings referred to in this report, however costs in complex litigation may be substantial.  Guarantees and securities included in ratio calculations  The notional amount of guarantees and securities provided on behalf of participating interests in joint ventures and associates, which is also included in ratios, increased from EUR 85.8 million at 31 December 2021 to EUR 89.4 million at 31 December 2022. In both years there were no amounts recognized in the statement of financial position. Reference is also made to note 5.5.  Other legal proceedings and risks  As a result of its day-to-day activities, the Group is involved in a number of other legal proceedings. The Executive Board is of the opinion that for the legal cases and risks for which no provisions have been recognized, it is not probable at year-end that the final outcome will result in a cash outflow, therefore no provisions have been formed. Furthermore, as explained in the Risks and risk management section, the Group can be held liable for any non-compliance with laws and regulations. The risks in connection with non-compliance, as well as the potential impact on the company, are disclosed in the Internal control and risk management section of this report.  As part of divestments of terminals and assets, Vopak has provided certain customary representations and warranties in the relevant sales purchase agreements. These representations and warranties will generally terminate, depending on their specific features, a number of years after the relevant transaction completion date. Based on the current facts and circumstances, management has determined that for the items for which no provision is currently recognized, the likelihood of a cash outflow relating to these items is considered to be remote.  ",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfCommitmentsAndContingentLiabilitiesExplanatory",
    "language": "en",
    "entity": "scheme:724500UL634GFV1KYF10",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
   }
  },
  "pp-value-256-3": {
   "value": "Note 9.7 Investment commitments undertaken  The investment commitments undertaken by the Group for subsidiaries amounted to EUR 113.7 million as at 31 December 2022 (2021: EUR 85.4 million), and were primarily related to property, plant and equipment.  ",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfCommitmentsExplanatory",
    "language": "en",
    "entity": "scheme:724500UL634GFV1KYF10",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
   }
  },
  "pp-value-257-3": {
   "value": "Note 9.8 Contingent assets and contingent liabilities  Contingencies in respect of joint ventures and associates    Joint ventures   Associates   Total              31-Dec-31-Dec-31-Dec-31-Dec-31-Dec-31-Dec-In EUR millions  2022  2021  2022  2021  2022  2021  Commitments to provide debt or equity funding   20.8   16.1   \u2013   \u2013   20.8   16.1  Guarantees and securities provided   105.1  98.7   7.0   11.4   112.1  110.1   The amounts of guarantees and securities can potentially be called within one year.   The joint venture and associates of the Group are currently, and may from time to time become, involved in a number of legal proceedings, including inquiries from, or discussions with, governmental authorities (including tax authorities) that are incidental to their operations. For the contingent liabilities of the joint ventures and associates as at year-end related to legal cases, it is based on the current facts and circumstances not believed that they may have a material adverse effect on the financial position or profitability of the Group. Due to inherent uncertainties, the Group cannot make any accurate quantification of any cost, or timing of such cost, which may arise from any of the legal proceedings referred to in this report, however costs in complex litigation may be substantial.  Other contingencies  Environmental and make good obligations  The Group is exposed to risks regarding environmental and make good obligations arising from past activities. For example, a number of sites have to be decontaminated and restored to their original condition before being handed back at the end of the contractual period. Under current legislation, environmental plans and any other measures to be adopted have to be agreed with local, regional and national authorities as appropriate. As soon as such plans are approved or other legal obligations arise, a provision is formed based on the most reliable estimate possible of future expenses. The Executive Board is of the opinion that the currently recognized provisions are adequate, based on information currently available. However, given the degree of difficulty in making estimates, this does not guarantee that no additional costs will arise going forward.  Other legal proceedings and risks  As a result of its day-to-day activities, the Group is involved in a number of other legal proceedings. The Executive Board is of the opinion that for the legal cases and risks for which no provisions have been recognized, it is not probable at year-end that the final outcome will result in a cash outflow, therefore no provisions have been formed. Furthermore, as explained in the Risks and risk management section, the Group can be held liable for any non-compliance with laws and regulations. The risks in connection with non-compliance, as well as the potential impact on the company, are disclosed in the Internal control and risk management section of this report.  As part of divestments of terminals and assets, Vopak has provided certain customary representations and warranties in the relevant sales purchase agreements. These representations and warranties will generally terminate, depending on their specific features, a number of years after the relevant transaction completion date. Based on the current facts and circumstances, management has determined that for the items for which no provision is currently recognized, the likelihood of a cash outflow relating to these items is considered to be remote.  ",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfOtherProvisionsContingentLiabilitiesAndContingentAssetsExplanatory",
    "language": "en",
    "entity": "scheme:724500UL634GFV1KYF10",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
   }
  },
  "pp-value-257-4": {
   "value": "Note 9.8 Contingent assets and contingent liabilities  Contingencies in respect of joint ventures and associates    Joint ventures   Associates   Total              31-Dec-31-Dec-31-Dec-31-Dec-31-Dec-31-Dec-In EUR millions  2022  2021  2022  2021  2022  2021  Commitments to provide debt or equity funding   20.8   16.1   \u2013   \u2013   20.8   16.1  Guarantees and securities provided   105.1  98.7   7.0   11.4   112.1  110.1   The amounts of guarantees and securities can potentially be called within one year.   The joint venture and associates of the Group are currently, and may from time to time become, involved in a number of legal proceedings, including inquiries from, or discussions with, governmental authorities (including tax authorities) that are incidental to their operations. For the contingent liabilities of the joint ventures and associates as at year-end related to legal cases, it is based on the current facts and circumstances not believed that they may have a material adverse effect on the financial position or profitability of the Group. Due to inherent uncertainties, the Group cannot make any accurate quantification of any cost, or timing of such cost, which may arise from any of the legal proceedings referred to in this report, however costs in complex litigation may be substantial.  Guarantees and securities included in ratio calculations  The notional amount of guarantees and securities provided on behalf of participating interests in joint ventures and associates, which is also included in ratios, increased from EUR 85.8 million at 31 December 2021 to EUR 89.4 million at 31 December 2022. In both years there were no amounts recognized in the statement of financial position. Reference is also made to note 5.5.  Other legal proceedings and risks  As a result of its day-to-day activities, the Group is involved in a number of other legal proceedings. The Executive Board is of the opinion that for the legal cases and risks for which no provisions have been recognized, it is not probable at year-end that the final outcome will result in a cash outflow, therefore no provisions have been formed. Furthermore, as explained in the Risks and risk management section, the Group can be held liable for any non-compliance with laws and regulations. The risks in connection with non-compliance, as well as the potential impact on the company, are disclosed in the Internal control and risk management section of this report.  As part of divestments of terminals and assets, Vopak has provided certain customary representations and warranties in the relevant sales purchase agreements. These representations and warranties will generally terminate, depending on their specific features, a number of years after the relevant transaction completion date. Based on the current facts and circumstances, management has determined that for the items for which no provision is currently recognized, the likelihood of a cash outflow relating to these items is considered to be remote.  ",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfContingentLiabilitiesExplanatory",
    "language": "en",
    "entity": "scheme:724500UL634GFV1KYF10",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
   }
  },
  "pp-value-258-5": {
   "value": "Guarantees and securities included in ratio calculations  The notional amount of guarantees and securities provided on behalf of participating interests in joint ventures and associates, which is also included in ratios, increased from EUR 85.8 million at 31 December 2021 to EUR 89.4 million at 31 December 2022. In both years there were no amounts recognized in the statement of financial position. Reference is also made to note 5.5.  ",
   "dimensions": {
    "concept": "ifrs-full:DescriptionOfAccountingPolicyForFinancialGuaranteesExplanatory",
    "language": "en",
    "entity": "scheme:724500UL634GFV1KYF10",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
   }
  },
  "pp-value-258-6": {
   "value": "Guarantees and securities included in ratio calculations  The notional amount of guarantees and securities provided on behalf of participating interests in joint ventures and associates, which is also included in ratios, increased from EUR 85.8 million at 31 December 2021 to EUR 89.4 million at 31 December 2022. In both years there were no amounts recognized in the statement of financial position. Reference is also made to note 5.5.  ",
   "dimensions": {
    "concept": "ifrs-full:DescriptionOfAccountingPolicyForContingentLiabilitiesAndContingentAssetsExplanatory",
    "language": "en",
    "entity": "scheme:724500UL634GFV1KYF10",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
   }
  },
  "pp-value-262-3": {
   "value": "Note 9.9 Financial assets and liabilities and credit risk  Financial assets and liabilities      Carrying amount   Fair value   In EUR millions   Note   2022   2021   2022   2021Other financial assets   9.6   94.0   83.6   94.0   83.6  Currency derivatives   6.2   67.4   36.0   67.4   36.0  Financial instruments at fair value     161.4   119.6   161.4   119.6             Loans granted   9.2   45.7   45.6   45.7   45.6  Trade and other receivables   4.2   318.5   259.6   318.5   259.6  Cash and cash equivalents   5.5   33.8   73.4   33.8   73.4  Finance lease receivable   9.2   131.9   131.2   131.9   131.2  Loans and receivables    529.9   509.8   529.9   509.8  Bank overdrafts and short-term borrowings   5.5   -  277.9   -  464.6   -  277.9   -  464.6  US Private Placements   5.5   -  1,500.4   -  1,428.6   -  1,528.5   -  1,611.7  JPY Private Placement   5.5   -  141.0   -  153.5   -  169.2   -  206.1  Bank loans   5.5   -  139.6   -  130.6   -  141.1   -  132.8  Lease liabilities   5.5   -  725.0   -  711.3   -  725.0   -  711.3  Credit facilities and other long-term loans   5.5   -  300.7   -  109.9   -  300.7   -  109.9  Trade creditors   4.3   -  77.1   -  70.1   -  77.1   -  70.1  Other creditors   4.3   -  92.2   -  110.0   -  92.2   -  110.0  Other financial liabilities    -  3,253.9   -  3,178.6   -  3,311.7   -  3,416.5  Net at amortized cost    -  2,724.0   -  2,668.8   -  2,781.8   -  2,906.7             Standby credit facility   5.5,  6.7       769.8   956.2  Standby bank facility   6.7      189.0   133.0  Unrecognized financial instruments         958.8   1,089.2  Determination of fair value for financial instruments  A number of the Group\u2019s accounting policies and disclosures require the determination of fair value for the financial instruments. A fair value measurement is an estimate of the price that would be received upon the sale of an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. Where available, fair value measurements are derived from quoted prices (unadjusted) in active markets for identical assets or liabilities (level 1). In the absence of such information, other observable inputs, either directly (i.e. as prices) or indirectly (i.e. derived from prices), are used to estimate fair values (level 2). No material financial instruments were measured at fair value using level 3 (inputs not based on observable market data). Inputs derived from external sources are corroborated or otherwise verified, as appropriate.   The fair values of the Private Placements, revolving credit facility and other long-term bank loans are measured by discounting the future cash flows using observable market interest information (level 2) as no similar instrument is available due to the specific profiles of the instruments. The calculations include credit spreads based on the most recent borrowing contracts.   The fair values of interest rate swaps, cross-currency interest rate swaps and forward foreign exchange contracts are determined by discounting the future cash flows using the applicable period-end observable yield curve, taking into account credit risk and the risk of non-performance.   In view of the short-term nature or the magnitude of the amounts, the Group considers that the fair value of loans granted, trade and other receivables, cash and cash equivalents, bank overdrafts, credit facilities, other long-term loans and trade creditors are not materially different from their carrying value.  The fair value of the Other equity investments (level 3) are based on discounted cash flow projections based on reliable estimates of future cash flows or recent transactions.  The initial measurement at the trade date of all financial instruments is the fair value. Except for derivatives, the initial measurement of financial instruments is adjusted for directly attributable transaction costs.   ",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfFairValueOfFinancialInstrumentsExplanatory",
    "language": "en",
    "entity": "scheme:724500UL634GFV1KYF10",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
   }
  },
  "pp-value-262-4": {
   "value": "Note 9.9 Financial assets and liabilities and credit risk  Financial assets and liabilities      Carrying amount   Fair value   In EUR millions   Note   2022   2021   2022   2021Other financial assets   9.6   94.0   83.6   94.0   83.6  Currency derivatives   6.2   67.4   36.0   67.4   36.0  Financial instruments at fair value     161.4   119.6   161.4   119.6             Loans granted   9.2   45.7   45.6   45.7   45.6  Trade and other receivables   4.2   318.5   259.6   318.5   259.6  Cash and cash equivalents   5.5   33.8   73.4   33.8   73.4  Finance lease receivable   9.2   131.9   131.2   131.9   131.2  Loans and receivables    529.9   509.8   529.9   509.8  Bank overdrafts and short-term borrowings   5.5   -  277.9   -  464.6   -  277.9   -  464.6  US Private Placements   5.5   -  1,500.4   -  1,428.6   -  1,528.5   -  1,611.7  JPY Private Placement   5.5   -  141.0   -  153.5   -  169.2   -  206.1  Bank loans   5.5   -  139.6   -  130.6   -  141.1   -  132.8  Lease liabilities   5.5   -  725.0   -  711.3   -  725.0   -  711.3  Credit facilities and other long-term loans   5.5   -  300.7   -  109.9   -  300.7   -  109.9  Trade creditors   4.3   -  77.1   -  70.1   -  77.1   -  70.1  Other creditors   4.3   -  92.2   -  110.0   -  92.2   -  110.0  Other financial liabilities    -  3,253.9   -  3,178.6   -  3,311.7   -  3,416.5  Net at amortized cost    -  2,724.0   -  2,668.8   -  2,781.8   -  2,906.7             Standby credit facility   5.5,  6.7       769.8   956.2  Standby bank facility   6.7      189.0   133.0  Unrecognized financial instruments         958.8   1,089.2  Determination of fair value for financial instruments  A number of the Group\u2019s accounting policies and disclosures require the determination of fair value for the financial instruments. A fair value measurement is an estimate of the price that would be received upon the sale of an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. Where available, fair value measurements are derived from quoted prices (unadjusted) in active markets for identical assets or liabilities (level 1). In the absence of such information, other observable inputs, either directly (i.e. as prices) or indirectly (i.e. derived from prices), are used to estimate fair values (level 2). No material financial instruments were measured at fair value using level 3 (inputs not based on observable market data). Inputs derived from external sources are corroborated or otherwise verified, as appropriate.   The fair values of the Private Placements, revolving credit facility and other long-term bank loans are measured by discounting the future cash flows using observable market interest information (level 2) as no similar instrument is available due to the specific profiles of the instruments. The calculations include credit spreads based on the most recent borrowing contracts.   The fair values of interest rate swaps, cross-currency interest rate swaps and forward foreign exchange contracts are determined by discounting the future cash flows using the applicable period-end observable yield curve, taking into account credit risk and the risk of non-performance.   In view of the short-term nature or the magnitude of the amounts, the Group considers that the fair value of loans granted, trade and other receivables, cash and cash equivalents, bank overdrafts, credit facilities, other long-term loans and trade creditors are not materially different from their carrying value.  The fair value of the Other equity investments (level 3) are based on discounted cash flow projections based on reliable estimates of future cash flows or recent transactions.  The initial measurement at the trade date of all financial instruments is the fair value. Except for derivatives, the initial measurement of financial instruments is adjusted for directly attributable transaction costs.   ",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfFairValueMeasurementExplanatory",
    "language": "en",
    "entity": "scheme:724500UL634GFV1KYF10",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
   }
  },
  "pp-value-262-5": {
   "value": "Note 9.9 Financial assets and liabilities and credit risk  Financial assets and liabilities      Carrying amount   Fair value   In EUR millions   Note   2022   2021   2022   2021Other financial assets   9.6   94.0   83.6   94.0   83.6  Currency derivatives   6.2   67.4   36.0   67.4   36.0  Financial instruments at fair value     161.4   119.6   161.4   119.6             Loans granted   9.2   45.7   45.6   45.7   45.6  Trade and other receivables   4.2   318.5   259.6   318.5   259.6  Cash and cash equivalents   5.5   33.8   73.4   33.8   73.4  Finance lease receivable   9.2   131.9   131.2   131.9   131.2  Loans and receivables    529.9   509.8   529.9   509.8  Bank overdrafts and short-term borrowings   5.5   -  277.9   -  464.6   -  277.9   -  464.6  US Private Placements   5.5   -  1,500.4   -  1,428.6   -  1,528.5   -  1,611.7  JPY Private Placement   5.5   -  141.0   -  153.5   -  169.2   -  206.1  Bank loans   5.5   -  139.6   -  130.6   -  141.1   -  132.8  Lease liabilities   5.5   -  725.0   -  711.3   -  725.0   -  711.3  Credit facilities and other long-term loans   5.5   -  300.7   -  109.9   -  300.7   -  109.9  Trade creditors   4.3   -  77.1   -  70.1   -  77.1   -  70.1  Other creditors   4.3   -  92.2   -  110.0   -  92.2   -  110.0  Other financial liabilities    -  3,253.9   -  3,178.6   -  3,311.7   -  3,416.5  Net at amortized cost    -  2,724.0   -  2,668.8   -  2,781.8   -  2,906.7             Standby credit facility   5.5,  6.7       769.8   956.2  Standby bank facility   6.7      189.0   133.0  Unrecognized financial instruments         958.8   1,089.2  ",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfFinancialInstrumentsAtFairValueThroughProfitOrLossExplanatory",
    "language": "en",
    "entity": "scheme:724500UL634GFV1KYF10",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
   }
  },
  "pp-value-262-6": {
   "value": "Note 9.9 Financial assets and liabilities and credit risk  Financial assets and liabilities      Carrying amount   Fair value   In EUR millions   Note   2022   2021   2022   2021Other financial assets   9.6   94.0   83.6   94.0   83.6  Currency derivatives   6.2   67.4   36.0   67.4   36.0  Financial instruments at fair value     161.4   119.6   161.4   119.6             Loans granted   9.2   45.7   45.6   45.7   45.6  Trade and other receivables   4.2   318.5   259.6   318.5   259.6  Cash and cash equivalents   5.5   33.8   73.4   33.8   73.4  Finance lease receivable   9.2   131.9   131.2   131.9   131.2  Loans and receivables    529.9   509.8   529.9   509.8  Bank overdrafts and short-term borrowings   5.5   -  277.9   -  464.6   -  277.9   -  464.6  US Private Placements   5.5   -  1,500.4   -  1,428.6   -  1,528.5   -  1,611.7  JPY Private Placement   5.5   -  141.0   -  153.5   -  169.2   -  206.1  Bank loans   5.5   -  139.6   -  130.6   -  141.1   -  132.8  Lease liabilities   5.5   -  725.0   -  711.3   -  725.0   -  711.3  Credit facilities and other long-term loans   5.5   -  300.7   -  109.9   -  300.7   -  109.9  Trade creditors   4.3   -  77.1   -  70.1   -  77.1   -  70.1  Other creditors   4.3   -  92.2   -  110.0   -  92.2   -  110.0  Other financial liabilities    -  3,253.9   -  3,178.6   -  3,311.7   -  3,416.5  Net at amortized cost    -  2,724.0   -  2,668.8   -  2,781.8   -  2,906.7             Standby credit facility   5.5,  6.7       769.8   956.2  Standby bank facility   6.7      189.0   133.0  Unrecognized financial instruments         958.8   1,089.2  ",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfFinancialInstrumentsDesignatedAtFairValueThroughProfitOrLossExplanatory",
    "language": "en",
    "entity": "scheme:724500UL634GFV1KYF10",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
   }
  },
  "pp-value-262-7": {
   "value": "Note 9.9 Financial assets and liabilities and credit risk  Financial assets and liabilities      Carrying amount   Fair value   In EUR millions   Note   2022   2021   2022   2021Other financial assets   9.6   94.0   83.6   94.0   83.6  Currency derivatives   6.2   67.4   36.0   67.4   36.0  Financial instruments at fair value     161.4   119.6   161.4   119.6             Loans granted   9.2   45.7   45.6   45.7   45.6  Trade and other receivables   4.2   318.5   259.6   318.5   259.6  Cash and cash equivalents   5.5   33.8   73.4   33.8   73.4  Finance lease receivable   9.2   131.9   131.2   131.9   131.2  Loans and receivables    529.9   509.8   529.9   509.8  Bank overdrafts and short-term borrowings   5.5   -  277.9   -  464.6   -  277.9   -  464.6  US Private Placements   5.5   -  1,500.4   -  1,428.6   -  1,528.5   -  1,611.7  JPY Private Placement   5.5   -  141.0   -  153.5   -  169.2   -  206.1  Bank loans   5.5   -  139.6   -  130.6   -  141.1   -  132.8  Lease liabilities   5.5   -  725.0   -  711.3   -  725.0   -  711.3  Credit facilities and other long-term loans   5.5   -  300.7   -  109.9   -  300.7   -  109.9  Trade creditors   4.3   -  77.1   -  70.1   -  77.1   -  70.1  Other creditors   4.3   -  92.2   -  110.0   -  92.2   -  110.0  Other financial liabilities    -  3,253.9   -  3,178.6   -  3,311.7   -  3,416.5  Net at amortized cost    -  2,724.0   -  2,668.8   -  2,781.8   -  2,906.7             Standby credit facility   5.5,  6.7       769.8   956.2  Standby bank facility   6.7      189.0   133.0  Unrecognized financial instruments         958.8   1,089.2  ",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfFinancialInstrumentsHeldForTradingExplanatory",
    "language": "en",
    "entity": "scheme:724500UL634GFV1KYF10",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
   }
  },
  "pp-value-263-8": {
   "value": "Determination of fair value for financial instruments  A number of the Group\u2019s accounting policies and disclosures require the determination of fair value for the financial instruments. A fair value measurement is an estimate of the price that would be received upon the sale of an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. Where available, fair value measurements are derived from quoted prices (unadjusted) in active markets for identical assets or liabilities (level 1). In the absence of such information, other observable inputs, either directly (i.e. as prices) or indirectly (i.e. derived from prices), are used to estimate fair values (level 2). No material financial instruments were measured at fair value using level 3 (inputs not based on observable market data). Inputs derived from external sources are corroborated or otherwise verified, as appropriate.   The fair values of the Private Placements, revolving credit facility and other long-term bank loans are measured by discounting the future cash flows using observable market interest information (level 2) as no similar instrument is available due to the specific profiles of the instruments. The calculations include credit spreads based on the most recent borrowing contracts.   The fair values of interest rate swaps, cross-currency interest rate swaps and forward foreign exchange contracts are determined by discounting the future cash flows using the applicable period-end observable yield curve, taking into account credit risk and the risk of non-performance.   In view of the short-term nature or the magnitude of the amounts, the Group considers that the fair value of loans granted, trade and other receivables, cash and cash equivalents, bank overdrafts, credit facilities, other long-term loans and trade creditors are not materially different from their carrying value.  The fair value of the Other equity investments (level 3) are based on discounted cash flow projections based on reliable estimates of future cash flows or recent transactions.  The initial measurement at the trade date of all financial instruments is the fair value. Except for derivatives, the initial measurement of financial instruments is adjusted for directly attributable transaction costs.   ",
   "dimensions": {
    "concept": "ifrs-full:DescriptionOfAccountingPolicyForFairValueMeasurementExplanatory",
    "language": "en",
    "entity": "scheme:724500UL634GFV1KYF10",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
   }
  },
  "pp-value-267-2": {
   "value": "Note 9.1<span class=\"_ _8\"/>1 Pr<span class=\"_ _7\"/>incipal subsidiar<span class=\"_ _3\"/>ies, joint vent<span class=\"_ _3\"/>ures,<span class=\"_ _7\"/> associates and in<span class=\"_ _3\"/>vestments  Ov<span class=\"_ _7\"/>er<span class=\"_ _5\"/>view as per 31 December 2022  SUBSIDIARIES  Eur<span class=\"_ _7\"/>ope, Middle East &amp; <span class=\"_ _9\"/>Afr<span class=\"_ _3\"/>ica  Belgium  Bar<span class=\"_ _7\"/>u Inv<span class=\"_ _7\"/>estment B.V<span class=\"_ _1\"/>.   V<span class=\"_ _3\"/>opak Chemical <span class=\"_ _8\"/>T<span class=\"_ _9\"/>erminals Belgium N.V<span class=\"_ _8\"/>.          V<span class=\"_ _3\"/>opak <span class=\"_ _a\"> </span>T<span class=\"_ _9\"/>erminal <span class=\"_ _23\"> </span>Eurot<span class=\"_ _5\"/>ank <span class=\"_ _23\"> </span>N.V<span class=\"_ _9\"/>. <span class=\"_ _23\"> </span> The Nether<span class=\"_ _7\"/>lands  V<span class=\"_ _3\"/>opak Chemicals Logistics Netherlands B<span class=\"_ _3\"/>.V<span class=\"_ _9\"/>.    V<span class=\"_ _3\"/>opak Energy <span class=\"_ _8\"/>T<span class=\"_ _9\"/>erminals Netherlands B.V<span class=\"_ _8\"/>.   V<span class=\"_ _3\"/>opak Europe &amp; Africa B<span class=\"_ _3\"/>.V<span class=\"_ _9\"/>.   V<span class=\"_ _3\"/>opak Finance B.V<span class=\"_ _1\"/>.    V<span class=\"_ _3\"/>opak Global Engineering Ser<span class=\"_ _5\"/>vices B.V<span class=\"_ _1\"/>.   V<span class=\"_ _3\"/>opak Global IT B<span class=\"_ _3\"/>.V<span class=\"_ _9\"/>.   V<span class=\"_ _3\"/>opak Global Procurement Services B.V<span class=\"_ _8\"/>.   V<span class=\"_ _3\"/>opak Global Shared Ser<span class=\"_ _5\"/>vices B.V<span class=\"_ _1\"/>.   V<span class=\"_ _3\"/>opak LNG Holding B.V<span class=\"_ _1\"/>.    V<span class=\"_ _3\"/>opak Maasvlakte <span class=\"_ _8\"/>T<span class=\"_ _9\"/>erminal B.V<span class=\"_ _8\"/>.   V<span class=\"_ _3\"/>opak Nederland B.V<span class=\"_ _1\"/>.    V<span class=\"_ _3\"/>opak <span class=\"_ _8\"/>T<span class=\"_ _9\"/>erminal Botlek B<span class=\"_ _7\"/>.V<span class=\"_ _9\"/>.     V<span class=\"_ _3\"/>opak <span class=\"_ _8\"/>T<span class=\"_ _9\"/>erminal Chemiehaven B<span class=\"_ _3\"/>.V<span class=\"_ _9\"/>.    V<span class=\"_ _3\"/>opak <span class=\"_ _8\"/>T<span class=\"_ _9\"/>erminal Europoort B.V<span class=\"_ _8\"/>.   V<span class=\"_ _3\"/>opak <span class=\"_ _8\"/>T<span class=\"_ _9\"/>erminal Laurenshaven B<span class=\"_ _3\"/>.V<span class=\"_ _9\"/>.    V<span class=\"_ _3\"/>opak T<span class=\"_ _9\"/>erminal TTR <span class=\"_ _21\"/>B.V<span class=\"_ _1\"/>. <span class=\"_\"> </span> <span class=\"_ _4\"/><span class=\"ws3\"> </span>V<span class=\"_ _3\"/>opak <span class=\"_ _8\"/>T<span class=\"_ _9\"/>erminal <span class=\"_ _3\"/>Vlaardingen B.V<span class=\"_ _8\"/>.   V<span class=\"_ _3\"/>opak <span class=\"_ _8\"/>T<span class=\"_ _9\"/>erminal <span class=\"_ _3\"/>Vlissingen B.V<span class=\"_ _8\"/>.    V<span class=\"_ _3\"/>opak <span class=\"_ _8\"/>T<span class=\"_ _9\"/>erminals North Netherlands B.V<span class=\"_ _8\"/>.   V<span class=\"_ _3\"/>opak <span class=\"_ _9\"/>V<span class=\"_ _3\"/>entures B.V<span class=\"_ _1\"/>.  South Afr<span class=\"_ _7\"/>ica <span class=\"_ _4\"/> V<span class=\"_ _3\"/>opak Reatile Ric<span class=\"_ _3\"/>hards Ba<span class=\"_ _7\"/>y (Pty) Ltd. (70%)   V<span class=\"_ _3\"/>opak South Africa De<span class=\"_ _3\"/>velopments (Pty) Ltd. (70%)   V<span class=\"_ _3\"/>opak <span class=\"_ _8\"/>T<span class=\"_ _9\"/>erminal Durban (Pt<span class=\"_ _5\"/>y) Ltd. (70%)  Switz<span class=\"_ _7\"/>er<span class=\"_ _7\"/>land  Monros A<span class=\"_ _9\"/>G (in liquidation)  United Kingdom  V<span class=\"_ _3\"/>opak Holding Bacrippuls Ltd.  Asia P<span class=\"_ _3\"/>acific  A<span class=\"_ _3\"/>ustralia  V<span class=\"_ _3\"/>opak <span class=\"_ _8\"/>T<span class=\"_ _9\"/>erminal Dar<span class=\"_ _4\"/>win Pty Ltd.   V<span class=\"_ _3\"/>opak <span class=\"_ _8\"/>T<span class=\"_ _9\"/>erminals A<span class=\"_ _7\"/>ustralia Pt<span class=\"_ _5\"/>y Ltd.   V<span class=\"_ _3\"/>opak <span class=\"_ _8\"/>T<span class=\"_ _9\"/>erminals Sy<span class=\"_ _7\"/>dney Pty Ltd.   V<span class=\"_ _3\"/>opak <span class=\"_ _9\"/>Victoria Energy <span class=\"_ _9\"/>T<span class=\"_ _9\"/>erminal Pty Ltd.  China  V<span class=\"_ _3\"/>opak (Huizhou) <span class=\"_ _8\"/>T<span class=\"_ _9\"/>erminal Ser<span class=\"_ _5\"/>vices Co. Ltd.   V<span class=\"_ _3\"/>opak China Management Company Ltd.   V<span class=\"_ _3\"/>opak <span class=\"_ _8\"/>T<span class=\"_ _9\"/>erminal Ningbo Co. Ltd. (85%)   1  V<span class=\"_ _3\"/>opak <span class=\"_ _8\"/>T<span class=\"_ _9\"/>erminal Shangdong Lanshan Ltd. (41<span class=\"_ _8\"/>.70%)  V<span class=\"_ _3\"/>opak <span class=\"_ _8\"/>T<span class=\"_ _9\"/>erminal Zhangjiagang Ltd.  Indonesia  PT <span class=\"_ _3\"/>V<span class=\"_ _9\"/>opak <span class=\"_ _9\"/>T<span class=\"_ _9\"/>erminal Merak (94.81%)  Singapor<span class=\"_ _3\"/>e  Monros Insurance Pte. Ltd.   V<span class=\"_ _3\"/>opak A<span class=\"_ _7\"/>sia Pte. Ltd.    2  V<span class=\"_ _3\"/>opak Gas <span class=\"_ _8\"/>T<span class=\"_ _9\"/>erminal LLP (55.6%)  3  V<span class=\"_ _3\"/>opak <span class=\"_ _8\"/>T<span class=\"_ _9\"/>erminal P<span class=\"_ _7\"/>enjuru Pte. Ltd. (69.5%)  4  V<span class=\"_ _3\"/>opak <span class=\"_ _8\"/>T<span class=\"_ _9\"/>erminals Singapore Pte. Ltd. (69.5%) Vietnam  V<span class=\"_ _3\"/>opak (Vietnam) Co. Ltd.  Amer<span class=\"_ _3\"/>icas  Brazil  V<span class=\"_ _3\"/>opak Brasil S.A.  Canada  V<span class=\"_ _3\"/>opak Dev<span class=\"_ _7\"/>elopment Canada Inc.  Colombia  V<span class=\"_ _3\"/>opak Colombia S.A.  Mexico  V<span class=\"_ _3\"/>opak Mexico S<span class=\"_ _3\"/>.A. de C.V<span class=\"_ _9\"/>. (99.87%)   P<span class=\"_ _7\"/>anama  V<span class=\"_ _3\"/>opak P<span class=\"_ _7\"/>anama Atlantic Inc.  United Stat<span class=\"_ _7\"/>es  V<span class=\"_ _3\"/>opak North America Inc.   V<span class=\"_ _3\"/>opak <span class=\"_ _8\"/>T<span class=\"_ _9\"/>erminal Deer Park Inc.   V<span class=\"_ _3\"/>opak <span class=\"_ _8\"/>T<span class=\"_ _9\"/>erminal Long Beac<span class=\"_ _3\"/>h Inc.   V<span class=\"_ _3\"/>opak <span class=\"_ _8\"/>T<span class=\"_ _9\"/>erminal Los <span class=\"_ _7\"/>Angeles Inc.    V<span class=\"_ _3\"/>opak <span class=\"_ _8\"/>T<span class=\"_ _9\"/>erminals North America Inc.    V<span class=\"_ _3\"/>opak <span class=\"_ _8\"/>T<span class=\"_ _9\"/>erminals Savannah Inc.   1 <span class=\"_ _24\"> </span>V<span class=\"_ _3\"/>opak <span class=\"_ _9\"/>T<span class=\"_ _3\"/>erminal P<span class=\"_ _7\"/>enjuru Pte. Ltd. 60% ownership in <span class=\"_ _9\"/>V<span class=\"_ _7\"/>opak <span class=\"_ _9\"/>T<span class=\"_ _3\"/>erminals Shangdong Lanshan  2 <span class=\"_ _24\"> </span>V<span class=\"_ _3\"/>opak <span class=\"_ _9\"/>T<span class=\"_ _3\"/>erminals Singapore Pte. Ltd. 80% ownership in <span class=\"_ _3\"/>V<span class=\"_ _3\"/>opak Gas <span class=\"_ _3\"/>T<span class=\"_ _9\"/>erminal LLP  3 <span class=\"_ _24\"> </span>V<span class=\"_ _3\"/>opak <span class=\"_ _9\"/>T<span class=\"_ _3\"/>erminals Singapore Pte. Ltd. 1<span class=\"_ _3\"/>0<span class=\"_ _5\"/>0% ownership in <span class=\"_ _3\"/>V<span class=\"_ _3\"/>opak <span class=\"_ _9\"/>T<span class=\"_ _3\"/>erminals P<span class=\"_ _7\"/>enjuru Pte. Ltd.  4 <span class=\"_ _24\"> </span>V<span class=\"_ _3\"/>opak Holding Singapore Pte. Ltd 69.5% ownership in <span class=\"_ _3\"/>V<span class=\"_ _7\"/>opak <span class=\"_ _9\"/>T<span class=\"_ _9\"/>erminals Singapore Pte. Ltd  ",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfSignificantInvestmentsInSubsidiariesExplanatory",
    "language": "en",
    "entity": "scheme:724500UL634GFV1KYF10",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
   }
  },
  "pp-value-267-3": {
   "value": "Note 9.1<span class=\"_ _8\"/>1 Pr<span class=\"_ _7\"/>incipal subsidiar<span class=\"_ _3\"/>ies, joint vent<span class=\"_ _3\"/>ures,<span class=\"_ _7\"/> associates and in<span class=\"_ _3\"/>vestments  Ov<span class=\"_ _7\"/>er<span class=\"_ _5\"/>view as per 31 December 2022  SUBSIDIARIES  Eur<span class=\"_ _7\"/>ope, Middle East &amp; <span class=\"_ _9\"/>Afr<span class=\"_ _3\"/>ica  Belgium  Bar<span class=\"_ _7\"/>u Inv<span class=\"_ _7\"/>estment B.V<span class=\"_ _1\"/>.   V<span class=\"_ _3\"/>opak Chemical <span class=\"_ _8\"/>T<span class=\"_ _9\"/>erminals Belgium N.V<span class=\"_ _8\"/>.          V<span class=\"_ _3\"/>opak <span class=\"_ _a\"> </span>T<span class=\"_ _9\"/>erminal <span class=\"_ _23\"> </span>Eurot<span class=\"_ _5\"/>ank <span class=\"_ _23\"> </span>N.V<span class=\"_ _9\"/>. <span class=\"_ _23\"> </span> The Nether<span class=\"_ _7\"/>lands  V<span class=\"_ _3\"/>opak Chemicals Logistics Netherlands B<span class=\"_ _3\"/>.V<span class=\"_ _9\"/>.    V<span class=\"_ _3\"/>opak Energy <span class=\"_ _8\"/>T<span class=\"_ _9\"/>erminals Netherlands B.V<span class=\"_ _8\"/>.   V<span class=\"_ _3\"/>opak Europe &amp; Africa B<span class=\"_ _3\"/>.V<span class=\"_ _9\"/>.   V<span class=\"_ _3\"/>opak Finance B.V<span class=\"_ _1\"/>.    V<span class=\"_ _3\"/>opak Global Engineering Ser<span class=\"_ _5\"/>vices B.V<span class=\"_ _1\"/>.   V<span class=\"_ _3\"/>opak Global IT B<span class=\"_ _3\"/>.V<span class=\"_ _9\"/>.   V<span class=\"_ _3\"/>opak Global Procurement Services B.V<span class=\"_ _8\"/>.   V<span class=\"_ _3\"/>opak Global Shared Ser<span class=\"_ _5\"/>vices B.V<span class=\"_ _1\"/>.   V<span class=\"_ _3\"/>opak LNG Holding B.V<span class=\"_ _1\"/>.    V<span class=\"_ _3\"/>opak Maasvlakte <span class=\"_ _8\"/>T<span class=\"_ _9\"/>erminal B.V<span class=\"_ _8\"/>.   V<span class=\"_ _3\"/>opak Nederland B.V<span class=\"_ _1\"/>.    V<span class=\"_ _3\"/>opak <span class=\"_ _8\"/>T<span class=\"_ _9\"/>erminal Botlek B<span class=\"_ _7\"/>.V<span class=\"_ _9\"/>.     V<span class=\"_ _3\"/>opak <span class=\"_ _8\"/>T<span class=\"_ _9\"/>erminal Chemiehaven B<span class=\"_ _3\"/>.V<span class=\"_ _9\"/>.    V<span class=\"_ _3\"/>opak <span class=\"_ _8\"/>T<span class=\"_ _9\"/>erminal Europoort B.V<span class=\"_ _8\"/>.   V<span class=\"_ _3\"/>opak <span class=\"_ _8\"/>T<span class=\"_ _9\"/>erminal Laurenshaven B<span class=\"_ _3\"/>.V<span class=\"_ _9\"/>.    V<span class=\"_ _3\"/>opak T<span class=\"_ _9\"/>erminal TTR <span class=\"_ _21\"/>B.V<span class=\"_ _1\"/>. <span class=\"_\"> </span> <span class=\"_ _4\"/><span class=\"ws3\"> </span>V<span class=\"_ _3\"/>opak <span class=\"_ _8\"/>T<span class=\"_ _9\"/>erminal <span class=\"_ _3\"/>Vlaardingen B.V<span class=\"_ _8\"/>.   V<span class=\"_ _3\"/>opak <span class=\"_ _8\"/>T<span class=\"_ _9\"/>erminal <span class=\"_ _3\"/>Vlissingen B.V<span class=\"_ _8\"/>.    V<span class=\"_ _3\"/>opak <span class=\"_ _8\"/>T<span class=\"_ _9\"/>erminals North Netherlands B.V<span class=\"_ _8\"/>.   V<span class=\"_ _3\"/>opak <span class=\"_ _9\"/>V<span class=\"_ _3\"/>entures B.V<span class=\"_ _1\"/>.  South Afr<span class=\"_ _7\"/>ica <span class=\"_ _4\"/> V<span class=\"_ _3\"/>opak Reatile Ric<span class=\"_ _3\"/>hards Ba<span class=\"_ _7\"/>y (Pty) Ltd. (70%)   V<span class=\"_ _3\"/>opak South Africa De<span class=\"_ _3\"/>velopments (Pty) Ltd. (70%)   V<span class=\"_ _3\"/>opak <span class=\"_ _8\"/>T<span class=\"_ _9\"/>erminal Durban (Pt<span class=\"_ _5\"/>y) Ltd. (70%)  Switz<span class=\"_ _7\"/>er<span class=\"_ _7\"/>land  Monros A<span class=\"_ _9\"/>G (in liquidation)  United Kingdom  V<span class=\"_ _3\"/>opak Holding Bacrippuls Ltd.  Asia P<span class=\"_ _3\"/>acific  A<span class=\"_ _3\"/>ustralia  V<span class=\"_ _3\"/>opak <span class=\"_ _8\"/>T<span class=\"_ _9\"/>erminal Dar<span class=\"_ _4\"/>win Pty Ltd.   V<span class=\"_ _3\"/>opak <span class=\"_ _8\"/>T<span class=\"_ _9\"/>erminals A<span class=\"_ _7\"/>ustralia Pt<span class=\"_ _5\"/>y Ltd.   V<span class=\"_ _3\"/>opak <span class=\"_ _8\"/>T<span class=\"_ _9\"/>erminals Sy<span class=\"_ _7\"/>dney Pty Ltd.   V<span class=\"_ _3\"/>opak <span class=\"_ _9\"/>Victoria Energy <span class=\"_ _9\"/>T<span class=\"_ _9\"/>erminal Pty Ltd.  China  V<span class=\"_ _3\"/>opak (Huizhou) <span class=\"_ _8\"/>T<span class=\"_ _9\"/>erminal Ser<span class=\"_ _5\"/>vices Co. Ltd.   V<span class=\"_ _3\"/>opak China Management Company Ltd.   V<span class=\"_ _3\"/>opak <span class=\"_ _8\"/>T<span class=\"_ _9\"/>erminal Ningbo Co. Ltd. (85%)   1  V<span class=\"_ _3\"/>opak <span class=\"_ _8\"/>T<span class=\"_ _9\"/>erminal Shangdong Lanshan Ltd. (41<span class=\"_ _8\"/>.70%)  V<span class=\"_ _3\"/>opak <span class=\"_ _8\"/>T<span class=\"_ _9\"/>erminal Zhangjiagang Ltd.  Indonesia  PT <span class=\"_ _3\"/>V<span class=\"_ _9\"/>opak <span class=\"_ _9\"/>T<span class=\"_ _9\"/>erminal Merak (94.81%)  Singapor<span class=\"_ _3\"/>e  Monros Insurance Pte. Ltd.   V<span class=\"_ _3\"/>opak A<span class=\"_ _7\"/>sia Pte. Ltd.    2  V<span class=\"_ _3\"/>opak Gas <span class=\"_ _8\"/>T<span class=\"_ _9\"/>erminal LLP (55.6%)  3  V<span class=\"_ _3\"/>opak <span class=\"_ _8\"/>T<span class=\"_ _9\"/>erminal P<span class=\"_ _7\"/>enjuru Pte. Ltd. (69.5%)  4  V<span class=\"_ _3\"/>opak <span class=\"_ _8\"/>T<span class=\"_ _9\"/>erminals Singapore Pte. Ltd. (69.5%) Vietnam  V<span class=\"_ _3\"/>opak (Vietnam) Co. Ltd.  Amer<span class=\"_ _3\"/>icas  Brazil  V<span class=\"_ _3\"/>opak Brasil S.A.  Canada  V<span class=\"_ _3\"/>opak Dev<span class=\"_ _7\"/>elopment Canada Inc.  Colombia  V<span class=\"_ _3\"/>opak Colombia S.A.  Mexico  V<span class=\"_ _3\"/>opak Mexico S<span class=\"_ _3\"/>.A. de C.V<span class=\"_ _9\"/>. (99.87%)   P<span class=\"_ _7\"/>anama  V<span class=\"_ _3\"/>opak P<span class=\"_ _7\"/>anama Atlantic Inc.  United Stat<span class=\"_ _7\"/>es  V<span class=\"_ _3\"/>opak North America Inc.   V<span class=\"_ _3\"/>opak <span class=\"_ _8\"/>T<span class=\"_ _9\"/>erminal Deer Park Inc.   V<span class=\"_ _3\"/>opak <span class=\"_ _8\"/>T<span class=\"_ _9\"/>erminal Long Beac<span class=\"_ _3\"/>h Inc.   V<span class=\"_ _3\"/>opak <span class=\"_ _8\"/>T<span class=\"_ _9\"/>erminal Los <span class=\"_ _7\"/>Angeles Inc.    V<span class=\"_ _3\"/>opak <span class=\"_ _8\"/>T<span class=\"_ _9\"/>erminals North America Inc.    V<span class=\"_ _3\"/>opak <span class=\"_ _8\"/>T<span class=\"_ _9\"/>erminals Savannah Inc.   1 <span class=\"_ _24\"> </span>V<span class=\"_ _3\"/>opak <span class=\"_ _9\"/>T<span class=\"_ _3\"/>erminal P<span class=\"_ _7\"/>enjuru Pte. Ltd. 60% ownership in <span class=\"_ _9\"/>V<span class=\"_ _7\"/>opak <span class=\"_ _9\"/>T<span class=\"_ _3\"/>erminals Shangdong Lanshan  2 <span class=\"_ _24\"> </span>V<span class=\"_ _3\"/>opak <span class=\"_ _9\"/>T<span class=\"_ _3\"/>erminals Singapore Pte. Ltd. 80% ownership in <span class=\"_ _3\"/>V<span class=\"_ _3\"/>opak Gas <span class=\"_ _3\"/>T<span class=\"_ _9\"/>erminal LLP  3 <span class=\"_ _24\"> </span>V<span class=\"_ _3\"/>opak <span class=\"_ _9\"/>T<span class=\"_ _3\"/>erminals Singapore Pte. Ltd. 1<span class=\"_ _3\"/>0<span class=\"_ _5\"/>0% ownership in <span class=\"_ _3\"/>V<span class=\"_ _3\"/>opak <span class=\"_ _9\"/>T<span class=\"_ _3\"/>erminals P<span class=\"_ _7\"/>enjuru Pte. Ltd.  4 <span class=\"_ _24\"> </span>V<span class=\"_ _3\"/>opak Holding Singapore Pte. Ltd 69.5% ownership in <span class=\"_ _3\"/>V<span class=\"_ _7\"/>opak <span class=\"_ _9\"/>T<span class=\"_ _9\"/>erminals Singapore Pte. Ltd  JOINT VENTURES <span class=\"_ _5\"/> Eur<span class=\"_ _7\"/>ope, Middle East &amp; <span class=\"_ _9\"/>Afr<span class=\"_ _3\"/>ica  Belgium  NxtP<span class=\"_ _3\"/>ort International B.V<span class=\"_ _8\"/>. (50%)  The Nether<span class=\"_ _7\"/>lands  Diize B<span class=\"_ _7\"/>.V<span class=\"_ _8\"/>. (50%)   Gate terminal B.V<span class=\"_ _1\"/>. (50%)   MultiCore C.V<span class=\"_ _8\"/>. (25%)  P<span class=\"_ _7\"/>akistan  Engro <span class=\"_ _3\"/>V<span class=\"_ _9\"/>opak <span class=\"_ _9\"/>T<span class=\"_ _9\"/>erminal Ltd. (50%)  Spain  T<span class=\"_ _9\"/>erminales Quimicos S<span class=\"_ _7\"/>.A. (T<span class=\"_ _9\"/>erquimsa) (50%)  United <span class=\"_ _9\"/>Ar<span class=\"_ _7\"/>ab Emirat<span class=\"_ _7\"/>es  V<span class=\"_ _3\"/>opak Horizon F<span class=\"_ _9\"/>ujairah Ltd. (33.33%)  Asia P<span class=\"_ _3\"/>acific  China  Guangxi Hualin Jet<span class=\"_ _3\"/>ty Co. Ltd. (51%)    Huizhou QuanMei P<span class=\"_ _3\"/>etroc<span class=\"_ _7\"/>hemical <span class=\"_ _9\"/>T<span class=\"_ _9\"/>erminal Co. Ltd. (30%)  Tianjin Lingang <span class=\"_ _3\"/>V<span class=\"_ _9\"/>opak Bohua Jet<span class=\"_ _3\"/>t<span class=\"_ _5\"/>y Co. Ltd. (30%)    V<span class=\"_ _3\"/>opak (Qinzhou) Jet<span class=\"_ _3\"/>ty Co. Ltd. (51%)   V<span class=\"_ _3\"/>opak Bohua (Tianjin) <span class=\"_ _8\"/>T<span class=\"_ _9\"/>erminal Co. Ltd. (50%)    V<span class=\"_ _3\"/>opak <span class=\"_ _21\"> </span>Nanjiang <span class=\"_\"> </span>P<span class=\"_ _9\"/>etrochemicals T<span class=\"_ _8\"/>erminal Tianjin Co. Ltd. (50%)   V<span class=\"_ _3\"/>opak Shanghai Logistics Co. Ltd. (50%)   India  A<span class=\"_ _7\"/>egis <span class=\"_ _3\"/>V<span class=\"_ _3\"/>opak <span class=\"_ _9\"/>T<span class=\"_ _8\"/>erminals Ltd. (49%)  Indonesia  PT Jakarta <span class=\"_ _9\"/>T<span class=\"_ _9\"/>ank <span class=\"_ _8\"/>T<span class=\"_ _9\"/>erminal (49%)  Kor<span class=\"_ _3\"/>ea  V<span class=\"_ _3\"/>opak <span class=\"_ _8\"/>T<span class=\"_ _9\"/>erminals Korea Ltd. (51%)  Malaysia  5  Kertih <span class=\"_ _8\"/>T<span class=\"_ _9\"/>erminals Sdn. Bhd. (20.85%)  6  P<span class=\"_ _3\"/>engerang <span class=\"_ _9\"/>T<span class=\"_ _9\"/>erminals Sdn. Bhd. (49%)  7  P<span class=\"_ _3\"/>engerang Independent <span class=\"_ _9\"/>T<span class=\"_ _9\"/>erminals Sdn. Bhd. (44.1<span class=\"_ _9\"/>0%) Singapor<span class=\"_ _3\"/>e  8  Ban<span class=\"_ _7\"/>yan Ca<span class=\"_ _7\"/>vern Storage Services Pte. Ltd. (31<span class=\"_ _9\"/>.275%) Thailand  Thai <span class=\"_ _8\"/>T<span class=\"_ _9\"/>ank <span class=\"_ _9\"/>T<span class=\"_ _9\"/>erminal Ltd. (35%) (2021: 49%)  Amer<span class=\"_ _3\"/>icas  Brazil  Uniao-V<span class=\"_ _3\"/>opak Armaz<span class=\"_ _3\"/>ens Gerais Ltda. (50%)  Mexico  T<span class=\"_ _9\"/>erminal de <span class=\"_ _7\"/>Altamira de S. de R.L. de C.V<span class=\"_ _8\"/>. (60%)  P<span class=\"_ _7\"/>anama  P<span class=\"_ _7\"/>ayardi <span class=\"_ _8\"/>T<span class=\"_ _9\"/>erminal Compan<span class=\"_ _7\"/>y S. de R.L. (50%)  United Stat<span class=\"_ _7\"/>es  V<span class=\"_ _3\"/>opak Industrial Infrastruct<span class=\"_ _3\"/>ure Americas LLC (VIIA) (50%)   V<span class=\"_ _3\"/>opak Moda Houston LLC (50%)  5 <span class=\"_ _24\"> </span>V<span class=\"_ _3\"/>opak <span class=\"_ _9\"/>T<span class=\"_ _3\"/>erminal P<span class=\"_ _7\"/>enjuru Pte. Ltd. 30% ownership in K<span class=\"_ _7\"/>ertih <span class=\"_ _9\"/>T<span class=\"_ _3\"/>erminals Sdn. Bhd.  6 <span class=\"_ _24\"> </span>V<span class=\"_ _3\"/>opak <span class=\"_ _9\"/>T<span class=\"_ _3\"/>erminal P<span class=\"_ _7\"/>engerang B.V<span class=\"_ _9\"/>. 49% ownership in P<span class=\"_ _3\"/>engerang <span class=\"_ _9\"/>T<span class=\"_ _3\"/>erminals Sdn. Bhd.  7 <span class=\"_ _24\"> </span>P<span class=\"_ _7\"/>engerang <span class=\"_ _9\"/>T<span class=\"_ _9\"/>erminals Sdn. Bhd. 89.999% ownership in P<span class=\"_ _7\"/>engerang Independent <span class=\"_ _9\"/>T<span class=\"_ _3\"/>erminals Sdn. Bhd. <span class=\"_ _8\"/> 8 <span class=\"_ _24\"> </span>V<span class=\"_ _3\"/>opak <span class=\"_ _9\"/>T<span class=\"_ _3\"/>erminals Singapore Pte. Ltd. 45% ownership in Ban<span class=\"_ _7\"/>yan Cav<span class=\"_ _7\"/>ern Storage Ser<span class=\"_ _5\"/>vices Pte. Ltd  A<span class=\"_ _7\"/>SSOCIA<span class=\"_ _9\"/>TES  Canada  Ridley Island LPG Export GP Inc. (30%)  China  Zhangzhou Gulei Haiteng Jet<span class=\"_ _3\"/>ty Investment and Management Co. Ltd. (30%)  Colombia  Sociedad P<span class=\"_ _3\"/>ortuaria El Cay<span class=\"_ _3\"/>o S.A. ESP (SPEC) (49%)  India  Hindustan A<span class=\"_ _7\"/>egis LPG Ltd. (24%)  Malaysia  P<span class=\"_ _3\"/>engerang <span class=\"_ _9\"/>T<span class=\"_ _9\"/>erminals (T<span class=\"_ _8\"/>wo) Sdn. Bhd. (25%)  The Nether<span class=\"_ _7\"/>lands  V<span class=\"_ _3\"/>opak <span class=\"_ _8\"/>T<span class=\"_ _9\"/>erminal Eemshaven B<span class=\"_ _3\"/>.V<span class=\"_ _9\"/>. (1<span class=\"_ _9\"/>0%)   9  Helios Eemshav<span class=\"_ _7\"/>en B.V<span class=\"_ _1\"/>. (8%)  Maasvlakte Olie <span class=\"_ _9\"/>T<span class=\"_ _8\"/>erminal N.V<span class=\"_ _9\"/>. (1<span class=\"_ _3\"/>6.67%)  P<span class=\"_ _7\"/>akistan  Engro Elengy <span class=\"_ _9\"/>T<span class=\"_ _8\"/>erminal Pakistan Ltd. (44%)  Saudi Arabia <span class=\"_ _5\"/> Jubail Chemicals Storage &amp; Services Company LLC / Chemtank (22%)  9 <span class=\"_ _24\"> </span>V<span class=\"_ _3\"/>opak has a 1<span class=\"_ _7\"/>0% share, holds 80% of the shares in Helios Eemshav<span class=\"_ _7\"/>en B.V<span class=\"_ _9\"/>.  INVESTMENTS  Finland  A<span class=\"_ _7\"/>eromon Oy (1<span class=\"_ _3\"/>5.07%)  Ger<span class=\"_ _7\"/>man<span class=\"_ _7\"/>y  Hydrogenious LOHC <span class=\"_ _8\"/>T<span class=\"_ _9\"/>ec<span class=\"_ _3\"/>hnologies GmbH (1<span class=\"_ _3\"/>0.3%)  The Nether<span class=\"_ _7\"/>lands  Elestor B.V<span class=\"_ _1\"/>. (5.18%)    Falc<span class=\"_ _3\"/>ker Holding B<span class=\"_ _7\"/>.V<span class=\"_ _8\"/>. (25.4%)   Harbour Oil B.V<span class=\"_ _1\"/>. (33.3)   Harbour Stone B.V<span class=\"_ _1\"/>. (24.9%)   HyET Energy S<span class=\"_ _3\"/>ystems B.V<span class=\"_ _1\"/>. (1<span class=\"_ _3\"/>0.1%)   HyET Holding B<span class=\"_ _3\"/>.V<span class=\"_ _9\"/>. (5%)   HyET Hy<span class=\"_ _7\"/>drogen B.V<span class=\"_ _1\"/>. (5%)   HyperSoniq B.V<span class=\"_ _1\"/>. (25.5%)   T<span class=\"_ _9\"/>eqpla<span class=\"_ _7\"/>y B.V<span class=\"_ _8\"/>. (24%)   TWTG Group B.V<span class=\"_ _1\"/>. (30%)           Xycle <span class=\"_ _23\"> </span>Europoort <span class=\"_ _24\"> </span>B<span class=\"_ _7\"/>.V<span class=\"_ _8\"/>. <span class=\"_ _24\"> </span>(33.33%) <span class=\"_ _24\"> </span> Saudi Arabia <span class=\"_ _5\"/> SABIC <span class=\"_ _8\"/>T<span class=\"_ _9\"/>erminal Ser<span class=\"_ _5\"/>vices Company Ltd. / Sabtank (1<span class=\"_ _9\"/>0%)  Singapor<span class=\"_ _3\"/>e  P<span class=\"_ _3\"/>erformance Rotors Pte. Ltd. (20%)  United Kingdom  Adv<span class=\"_ _7\"/>anced 3D Laser Solutions Limited (25%)  United Stat<span class=\"_ _7\"/>es  Aquacy<span class=\"_ _7\"/>cl Inc. (1<span class=\"_ _3\"/>5%)   Data.world Inc. (2.1<span class=\"_ _3\"/>7%)  V<span class=\"_ _9\"/>enezuela  V<span class=\"_ _3\"/>opak <span class=\"_ _9\"/>V<span class=\"_ _3\"/>enezuela S.A. (1<span class=\"_ _3\"/>00%)  ",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfCompositionOfGroupExplanatory",
    "language": "en",
    "entity": "scheme:724500UL634GFV1KYF10",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
   }
  },
  "pp-value-277-5": {
   "value": "INVESTMENTS  Finland  Aeromon Oy (15.07%)  Germany  Hydrogenious LOHC Technologies GmbH (10.3%)  The Netherlands  Elestor B.V. (5.18%)    Falcker Holding B.V. (25.4%)   Harbour Oil B.V. (33.3)   Harbour Stone B.V. (24.9%)   HyET Energy Systems B.V. (10.1%)   HyET Holding B.V. (5%)   HyET Hydrogen B.V. (5%)   HyperSoniq B.V. (25.5%)   Teqplay B.V. (24%)   TWTG Group B.V. (30%)           Xycle  Europoort  B.V.  (33.33%)   Saudi Arabia  SABIC Terminal Services Company Ltd. / Sabtank (10%)  Singapore  Performance Rotors Pte. Ltd. (20%)  United Kingdom  Advanced 3D Laser Solutions Limited (25%)  United States  Aquacycl Inc. (15%)   Data.world Inc. (2.17%)  Venezuela  Vopak Venezuela S.A. (100%)  ",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfFinancialAssetsHeldForTradingExplanatory",
    "language": "en",
    "entity": "scheme:724500UL634GFV1KYF10",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
   }
  },
  "pp-value-279-2": {
   "value": "Note 9.12 Events after the reporting period  No subsequent events have occurred. ",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfEventsAfterReportingPeriodExplanatory",
    "language": "en",
    "entity": "scheme:724500UL634GFV1KYF10",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
   }
  },
  "pp-value-280-1": {
   "value": "Koninklijke Vopak N.V.",
   "dimensions": {
    "concept": "ifrs-full:NameOfReportingEntityOrOtherMeansOfIdentification",
    "language": "en",
    "entity": "scheme:724500UL634GFV1KYF10",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
   }
  },
  "f92949": {
   "value": " the Netherlands",
   "dimensions": {
    "concept": "ifrs-full:DomicileOfEntity",
    "language": "en",
    "entity": "scheme:724500UL634GFV1KYF10",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
   }
  },
  "pp-value-282-1": {
   "value": " Vopak is the world\u2019s leading independent tank storage provider, specialized in the storage and handling of liquid chemicals, gases and oil products.  ",
   "dimensions": {
    "concept": "ifrs-full:DescriptionOfNatureOfEntitysOperationsAndPrincipalActivities",
    "language": "en",
    "entity": "scheme:724500UL634GFV1KYF10",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
   }
  },
  "f93794": {
   "value": " the Netherlands",
   "dimensions": {
    "concept": "ifrs-full:CountryOfIncorporation",
    "language": "en",
    "entity": "scheme:724500UL634GFV1KYF10",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
   }
  },
  "f93821": {
   "value": " the Netherlands",
   "dimensions": {
    "concept": "ifrs-full:PrincipalPlaceOfBusiness",
    "language": "en",
    "entity": "scheme:724500UL634GFV1KYF10",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
   }
  },
  "pp-value-286-5": {
   "value": "Profit Appropriation Articles of Association Provisions Governing Profit Appropriation  The Articles of Association provisions governing profit appropriation are contained in Articles 9 and 27.  The relevant paragraphs of these articles are as follows:  Article 19.2.  In the Annual General Meeting of Shareholders:   b. the annual accounts as prepared by the management board will be presented to the general meeting for adoption and the allocation of profits will \u2013 with due observance of the provisions of article 27 \u2013 be determined.  Article 27.12.  The profits remaining after application of the previous paragraphs shall be at the free disposal of the general meeting, with due observance of the fact that no dividend can be distributed when, at the time of the distribution, the dividend reserve finance preference shares has a positive balance and furthermore provided that no further distributions shall be made on the anti-takeover preference shares and the finance preference shares and no profits shall be (further) reserved for the account of the finance preference shares.  ",
   "dimensions": {
    "concept": "ifrs-full:DescriptionOfAccountingPolicyForDividendsExplanatory",
    "language": "en",
    "entity": "scheme:724500UL634GFV1KYF10",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
   }
  },
  "s9_notes__5__5-1": {
   "value": "Pr<span class=\"_ _7\"/>oposed Profit <span class=\"_ _9\"/>Appr<span class=\"_ _7\"/>opr<span class=\"_ _3\"/>iation The proposal to the <span class=\"_ _7\"/>Annual General Meeting will be to distribute a dividend in cash ofEUR 1.30 (2021: EUR 1.25 in cash) per ordinar<span class=\"_ _5\"/>y share, with a nominal value of EUR 0.50. Pro<span class=\"_ _7\"/>vided that the Annual General Meeting adopts the financial statements, the dividendfor the 2022 financial y<span class=\"_ _7\"/>ear is expected to be paid on 5 Ma<span class=\"_ _7\"/>y 2023. 1 <span class=\"fs8 fc6\">2022 Executiv<span class=\"_ _3\"/>e Board r<span class=\"_ _7\"/>emuneration entitlements <span class=\"_ _8\"/><span class=\"fs11 fc3\"> </span></span>  and IFRS costs (audit<span class=\"_ _7\"/>ed) for the compan<span class=\"_ _3\"/>y   <span class=\"_ _3a\"> </span><span class=\"fc3\"> <span class=\"_ _9c\"> </span><span class=\"fs7 fcd\">Fixed Compensation  <span class=\"_ _1a0\"> </span>V<span class=\"_ _9\"/>ariable compensation  </span></span>  <span class=\"_ _7e\"> </span> <span class=\"_ _131\"> </span> <span class=\"_ _e6\"> </span> <span class=\"_ _e6\"> </span> <span class=\"_ _e6\"> </span> <span class=\"_ _e6\"> </span> <span class=\"_ _7e\"> </span> <span class=\"_ _4f\"> </span> <span class=\"_ _e6\"> </span> <span class=\"_ _e6\"> </span> Propor<span class=\"_ _7\"/>tion actual P<span class=\"_ _7\"/>ension    Short-t<span class=\"_ _7\"/>erm    Long-ter<span class=\"_ _3\"/>m    fixed vs v<span class=\"_ _3\"/>ariable 2  3   <span class=\"_ _3a\"> </span><span class=\"fc3\"> </span>Annual base salary <span class=\"_ _9\"/> contr<span class=\"_ _7\"/>ibutions Other incentive plan  incentive  T<span class=\"_ _8\"/>otal  compensation <span class=\"_ _5\"/>(%)    <span class=\"_ _7e\"> </span> <span class=\"_ _131\"> </span> <span class=\"_ _7e\"> </span> <span class=\"_ _4f\"> </span> <span class=\"_ _7e\"> </span> <span class=\"_ _131\"> </span> <span class=\"_ _7e\"> </span> <span class=\"_ _4f\"> </span> <span class=\"_ _7e\"> </span> <span class=\"_ _131\"> </span> <span class=\"_ _7e\"> </span> <span class=\"_ _4f\"> </span> <span class=\"_ _7e\"> </span> <span class=\"_ _131\"> </span> 4  5  In EUR  <span class=\"_ _1a1\"> </span> <span class=\"_ _76\"> </span><span class=\"fs7 fc0 wsb\">2022  <span class=\"_ _ce\"> </span><span class=\"fc7\">2021  <span class=\"_ _76\"> </span></span>2022  <span class=\"_ _ce\"> </span><span class=\"fc7\">2021  <span class=\"_ _76\"> </span></span>2022  <span class=\"_ _ce\"> </span><span class=\"fc7\">2021  <span class=\"_ _1a2\"> </span></span><span class=\"ws3\">2022 </span></span>2021 2022  <span class=\"_ _76\"> </span><span class=\"fc7\">2021  <span class=\"_ _ce\"> </span></span>2022  <span class=\"_ _76\"> </span><span class=\"fc7\">2021  <span class=\"_ _ce\"> </span></span>2022  <span class=\"_ _76\"> </span><span class=\"fc7\">2021  </span>6 <span class=\"_ _e6\"> </span> <span class=\"_ _e6\"> </span> <span class=\"_ _e6\"> </span> <span class=\"_ _e6\"> </span> <span class=\"_ _e6\"> </span> <span class=\"_ _e6\"> </span> <span class=\"_ _e6\"> </span> <span class=\"_ _e6\"> </span> <span class=\"_ _e6\"> </span> <span class=\"_ _e6\"> </span> <span class=\"_ _e6\"> </span> <span class=\"_ _e6\"> </span> <span class=\"_ _e6\"> </span> <span class=\"_ _e6\"> </span> D.J<span class=\"_ _3\"/>.M. Richelle      <span class=\"_ _21\"> </span>7  entitlement   30 <span class=\"_ _c\"> </span>1<span class=\"_ _9\"/>.387  65.7%  700  n/a  1<span class=\"_ _7\"/>89  n/a  22  n/a  446   <span class=\"_ _c\"> </span>n/a   <span class=\"_ _c\"> </span>n/a  n/a  n/a     <span class=\"_ _21\"> </span>8   <span class=\"_ _1a4\"> </span><span class=\"fs10 fc1 lsc5 ws129\"> 184</span>            <span class=\"_ _c\"> </span>1<span class=\"_ _9\"/>.541  <span class=\"_ _1a5\"> </span>34.3%    <span class=\"_ _1a3\"/><span class=\"fs31 fc1\">costs </span>F<span class=\"_ _1\"/>. Eulder<span class=\"_ _7\"/>ink   <span class=\"_ _e6\"> </span> <span class=\"_ _e6\"> </span> <span class=\"_ _e6\"> </span> <span class=\"_ _e6\"> </span> <span class=\"_ _e6\"> </span> <span class=\"_ _e6\"> </span> <span class=\"_ _e6\"> </span> <span class=\"_ _e6\"> </span> <span class=\"_ _e6\"> </span> <span class=\"_ _e6\"> </span> <span class=\"_ _e6\"> </span> <span class=\"_ _e6\"> </span> <span class=\"_ _e6\"> </span> <span class=\"_ _e6\"> </span>  <span class=\"_ _21\"> </span>9  10<span class=\"_ _5\"/>  entitlement  <span class=\"_ _1a6\"> </span><span class=\"fs11 fc3\"> </span> 329 458  1<span class=\"_ _9\"/>.477<span class=\"_ _76\"> </span><span class=\"ws8e\">1<span class=\"_ _9\"/>.639  <span class=\"_ _1a2\"> </span>56.2%  <span class=\"_ _26\"> </span>46.1%  </span>597  568  233  1<span class=\"_ _7\"/>86  1  1  31<span class=\"_ _3\"/>7   <span class=\"_ _c\"> </span>426   <span class=\"_ _21\"> </span>11<span class=\"_ _4\"> </span>  12  costs   <span class=\"_ _1a7\"> </span><span class=\"fs10 fc1\"> 439</span>         570  1<span class=\"_ _9\"/>.587<span class=\"_ _76\"> </span><span class=\"ws8e\">1<span class=\"_ _9\"/>.751  <span class=\"_ _1a2\"> </span>43.8%  <span class=\"_ _26\"> </span>53.9%  </span>13 <span class=\"_ _e6\"> </span> <span class=\"_ _e6\"> </span> <span class=\"_ _e6\"> </span> <span class=\"_ _e6\"> </span> <span class=\"_ _e6\"> </span> <span class=\"_ _e6\"> </span> <span class=\"_ _e6\"> </span> <span class=\"_ _e6\"> </span> <span class=\"_ _e6\"> </span> <span class=\"_ _e6\"> </span> <span class=\"_ _e6\"> </span> <span class=\"_ _e6\"> </span> <span class=\"_ _e6\"> </span> <span class=\"_ _e6\"> </span> M.E.G. Gilsing                 <span class=\"_ _21\"> </span>7           entitlement   27 <span class=\"_ _c\"> </span>984   <span class=\"_ _c\"> </span>68.9%  525  n/a  1<span class=\"_ _7\"/>44  n/a  9  n/a  279  n/a  n/a  n/a  n/a     <span class=\"_ _21\"> </span>8   <span class=\"_ _1a4\"> </span><span class=\"fs10 fc1 lsb6 ws12d\"> 13<span class=\"_ _5\"/>7</span>                    <span class=\"_ _c\"> </span>1<span class=\"_ _9\"/>.094  <span class=\"_ _161\"> </span> <span class=\"_ _c\"> </span>31<span class=\"_ _9\"/>.1%        <span class=\"_ _1a8\"/><span class=\"fc1\">costs </span>F<span class=\"_ _7\"/>ormer Executive B<span class=\"_ _7\"/>oard members   <span class=\"_ _e6\"> </span> <span class=\"_ _e6\"> </span> <span class=\"_ _e6\"> </span> <span class=\"_ _e6\"> </span> <span class=\"_ _e6\"> </span> <span class=\"_ _e6\"> </span> <span class=\"_ _e6\"> </span> <span class=\"_ _e6\"> </span> <span class=\"_ _e6\"> </span> <span class=\"_ _e6\"> </span> <span class=\"_ _e6\"> </span> <span class=\"_ _e6\"> </span> <span class=\"_ _e6\"> </span> <span class=\"_ _e6\"> </span> 14   <span class=\"_ _e6\"> </span> <span class=\"_ _e6\"> </span> <span class=\"_ _e6\"> </span> <span class=\"_ _e6\"> </span> <span class=\"_ _e6\"> </span> <span class=\"_ _e6\"> </span> <span class=\"_ _e6\"> </span> <span class=\"_ _e6\"> </span> <span class=\"_ _e6\"> </span> <span class=\"_ _e6\"> </span> <span class=\"_ _e6\"> </span> <span class=\"_ _e6\"> </span> <span class=\"_ _e6\"> </span> <span class=\"_ _e6\"> </span> E.M. Hoekstr<span class=\"_ _7\"/>a           <span class=\"_ _21\"> </span>9  10<span class=\"_ _5\"/>  entitlement  <span class=\"_ _1a6\"> </span><span class=\"fs11 fc3\"> </span>11<span class=\"_ _5\"/>9<span class=\"_ _21\"> </span>  <span class=\"_ _19b\"> </span><span class=\"ls5f ws8f\">12<span class=\"_ _5\"/>  </span> 527 736  <span class=\"_ _c\"> </span>646  <span class=\"_ _39\"> </span>2.339  <span class=\"_ _26\"> </span>18.4%  <span class=\"_ _1a2\"> </span>39.8%  n/a  7<span class=\"_ _9\"/>46  n/a  1<span class=\"_ _5\"/>74<span class=\"_ _21\"> </span>  n/a   <span class=\"_ _c\"> </span>671  15  15   1<span class=\"_ _3\"/>1, 15 <span class=\"_ _8\"/> 12   costs   <span class=\"_ _1a9\"> </span><span class=\"fs31 fc1\">-/-65 </span>          1<span class=\"_ _7\"/>96       -/-65 1,734  <span class=\"_ _c\"> </span>-/-1<span class=\"_ _7\"/>30  <span class=\"_ _39\"> </span>3.521  <span class=\"_ _60\"> </span>81<span class=\"_ _9\"/>.6%  <span class=\"_ _26\"> </span>60.2%  16   <span class=\"_ _e6\"> </span> <span class=\"_ _e6\"> </span> <span class=\"_ _e6\"> </span> <span class=\"_ _e6\"> </span> <span class=\"_ _e6\"> </span> <span class=\"_ _e6\"> </span> <span class=\"_ _e6\"> </span> <span class=\"_ _e6\"> </span> <span class=\"_ _e6\"> </span> <span class=\"_ _e6\"> </span> <span class=\"_ _e6\"> </span> <span class=\"_ _e6\"> </span> <span class=\"_ _e6\"> </span> <span class=\"_ _e6\"> </span> G.B.<span class=\"_ _7\"/> P<span class=\"_ _7\"/>aulides  <span class=\"_ _21\"> </span>9  10<span class=\"_ _5\"/>  entitlement  <span class=\"_ _1a6\"> </span><span class=\"fs11 fc3\"> </span>1<span class=\"_ _7\"/>57  <span class=\"_ _31\"> </span>9   320 426  <span class=\"_ _c\"> </span>785  <span class=\"_ _ce\"> </span>1<span class=\"_ _9\"/>.563  <span class=\"_ _1a2\"> </span>49.7%  <span class=\"_ _1a2\"> </span>45.5%  1<span class=\"_ _7\"/>89  568  44  1<span class=\"_ _7\"/>34  75   <span class=\"_ _c\"> </span>426  17<span class=\"_ _5\"/>  17<span class=\"_ _5\"/>   1<span class=\"_ _3\"/>1, 17 <span class=\"_ _8\"/> 12  costs   <span class=\"_ _176\"> </span><span class=\"fs31 fc1\">-/-1<span class=\"_ _3\"/>60 </span>    833    245 832  <span class=\"_ _c\"> </span>395  <span class=\"_ _39\"> </span>2.793  <span class=\"_ _1a2\"> </span>50.3%  <span class=\"_ _26\"> </span>54.5%  T<span class=\"_ _8\"/>otal entitlements  <span class=\"_ _b8\"> </span><span class=\"fs11 fc3\"> </span>308  <span class=\"_ _115\"> </span><span class=\"fcb\">22  </span>1<span class=\"_ _7\"/>.233  <span class=\"_ _156\"> </span><span class=\"fcb\">1<span class=\"_ _7\"/>.620  <span class=\"_ _38\"> </span><span class=\"fc0 ws3\">5.279<span class=\"_ _155\"> </span></span>5.541  <span class=\"_ _11\"> </span><span class=\"fc0\">55.5%  <span class=\"_ _11\"> </span></span>43.3%  </span>2.0<span class=\"_ _3\"/>1<span class=\"_ _3\"/>1  1<span class=\"_ _7\"/>.882  61<span class=\"_ _3\"/>0  494  1<span class=\"_ _7\"/>.1<span class=\"_ _9\"/>17  1<span class=\"_ _7\"/>.523  T<span class=\"_ _8\"/>otal costs   <span class=\"_ _17d\"> </span><span class=\"fs7 fc0 wsb\">-/-193  <span class=\"_ _38\"> </span><span class=\"fcb\">1.030  <span class=\"_ _1aa\"> </span></span>940  <span class=\"_ _38\"> </span><span class=\"fcb\">3.136  <span class=\"_ _155\"> </span></span>4.487  <span class=\"_ _38\"> </span><span class=\"fcb\">8.065  <span class=\"_ _11\"> </span></span>44.5%  <span class=\"_ _16\"> </span><span class=\"fcb\">56.7%  </span></span>      1 <span class=\"_ _b3\"> </span>Entitlements are defined as (i) payments in cash, i.e. the fixed remuneration (annual base salary<span class=\"_ _7\"/>, and any fix<span class=\"_ _7\"/>ed allowances in cash), and the short-term v<span class=\"_ _7\"/>ariable incentive in cash whic<span class=\"_ _7\"/>h relates to the performance y<span class=\"_ _7\"/>ear 2022 and which will be paid out in 2023; (ii) the monetar<span class=\"_ _5\"/>y value of the long-term variable incentiv<span class=\"_ _7\"/>e in shares of whic<span class=\"_ _7\"/>h the performance period ended on 31 December<span class=\"_ _3\"/>, 2022 (under 2020 \u2013 2022 Executive B<span class=\"_ _7\"/>oard Long-T<span class=\"_ _9\"/>erm Share Plan), and whic<span class=\"_ _7\"/>h is sc<span class=\"_ _7\"/>heduled to vest in 2023; (iii) the monetar<span class=\"_ _5\"/>y value of the retirement benefits provided under the compan<span class=\"_ _7\"/>y pension arrangements; and (iv) the monetar<span class=\"_ _5\"/>y value of an<span class=\"_ _7\"/>y other remuneration provided to (former) Ex<span class=\"_ _7\"/>ecutive Board during or related to the financial y<span class=\"_ _7\"/>ear<span class=\"_ _3\"/>.<span class=\"_ _5\"/>  2 <span class=\"_ _b3\"> </span>For Ex<span class=\"_ _7\"/>ecutive Board members who w<span class=\"_ _7\"/>ere in ser<span class=\"_ _5\"/>vice prior to January 1, 20<span class=\"_ _7\"/>1<span class=\"_ _7\"/>5 (in 2022: F<span class=\"_ _7\"/>rits Eulderink and Eelco Hoekstra), the diff<span class=\"_ _3\"/>erence bet<span class=\"_ _5\"/>ween the <span class=\"_ _9\"/>V<span class=\"_ _7\"/>opak contributions to the current pension plan and the <span class=\"_ _3\"/>V<span class=\"_ _7\"/>opak contributions to the pension arrangement in place prior to January 1, 20<span class=\"_ _3\"/>15, is compensated f<span class=\"_ _7\"/>or by a separate pension contribution allow<span class=\"_ _7\"/>ance paid out to the individual, subject to statutor<span class=\"_ _5\"/>y tax withholdings. <span class=\"_ _9\"/>The gross value of these allow<span class=\"_ _7\"/>ances is included in the pension contributions as stated in this t<span class=\"_ _5\"/>able.  3 <span class=\"_ _b3\"> </span>The column \u2018Other\u2019 includes cert<span class=\"_ _5\"/>ain perquisites provided to individual Ex<span class=\"_ _7\"/>ecutive Board members in 2022, suc<span class=\"_ _3\"/>h as a life-cy<span class=\"_ _7\"/>cle allowance and an emplo<span class=\"_ _7\"/>yer contribution to the Dutc<span class=\"_ _3\"/>h st<span class=\"_ _5\"/>atutory health insurance. <span class=\"_ _9\"/>The IFRS costs shown in this column are ex<span class=\"_ _7\"/>cluding the annual employer contributions to the Dutc<span class=\"_ _3\"/>h social securit<span class=\"_ _5\"/>y<span class=\"_ _3\"/>. For Dic<span class=\"_ _3\"/>k Ric<span class=\"_ _7\"/>helle, Frits Eulderink, and Mic<span class=\"_ _3\"/>hiel Gilsing, the 2022 employer social security contributions amounted to EUR 1<span class=\"_ _7\"/>3K (2021: EUR 13K). F<span class=\"_ _3\"/>or Eelco Hoekstra, and Gerard Paulides, the 2022 emplo<span class=\"_ _7\"/>yer social security contributions amounted to EUR 1K and 7K respectively (2021: EUR 1<span class=\"_ _3\"/>3K).<span class=\"_ _5\"/>  4 <span class=\"_ _b3\"> </span>This is the STIP related to the 2022 perf<span class=\"_ _7\"/>ormance year whic<span class=\"_ _7\"/>h will be paid out in 2023.   5 <span class=\"_ _b3\"> </span>This is the STIP related to the 2021 perf<span class=\"_ _7\"/>ormance year whic<span class=\"_ _7\"/>h was paid out in 2022.  6 <span class=\"_ _b3\"> </span>Dick Ric<span class=\"_ _3\"/>helle was appointed as Chairman of the Executiv<span class=\"_ _7\"/>e Board and CEO as of 1 January<span class=\"_ _3\"/>, 2022. His remuneration entitlements before this time are not included in this table as these did not relate to his Executive Board membership.  7 <span class=\"_ _b3\"> </span>In 2020, Dick Ric<span class=\"_ _3\"/>helle and Michiel Gilsing receiv<span class=\"_ _7\"/>ed conditional aw<span class=\"_ _7\"/>ards of performance shares under the company\u2019<span class=\"_ _9\"/>s 2020 \u2013 2022 Long-T<span class=\"_ _9\"/>erm Incentive Plan program for senior e<span class=\"_ _7\"/>xecutives and other k<span class=\"_ _7\"/>ey managers. <span class=\"_ _9\"/>These shares are sc<span class=\"_ _3\"/>heduled to vest in April 2023. <span class=\"_ _9\"/>The entitlements sho<span class=\"_ _7\"/>wn in this table represent the value at 31 December<span class=\"_ _3\"/>, 2022 of a prorated part of their tot<span class=\"_ _5\"/>al aw<span class=\"_ _7\"/>ards made to the under this program based on the performance realized and the closing share price at 31 December<span class=\"_ _9\"/>,<span class=\"_ _5\"/> 2022 of EUR 27<span class=\"_ _1\"/>.75. <span class=\"_ _9\"/>The proration is based on that part of the entire 3-year performance period that relates to the period during whic<span class=\"_ _3\"/>h they were a member of the Ex<span class=\"_ _7\"/>ecutive Board in 2022, that is 1/3 of the total aw<span class=\"_ _7\"/>ard.  8 <span class=\"_ _b3\"> </span>This amount reflects the recognized IFR<span class=\"_ _7\"/>S costs accrued by the compan<span class=\"_ _7\"/>y during the financial year 2022 for the prorated parts of the un<span class=\"_ _7\"/>vested perf<span class=\"_ _7\"/>ormance shares awarded conditionally to Dic<span class=\"_ _3\"/>k Richelle and Mic<span class=\"_ _3\"/>hiel Gilsing under the company\u2019<span class=\"_ _3\"/>s 2020 \u2013 2022 and 2021 \u2013 2023 Long-T<span class=\"_ _9\"/>erm Incentive Plan programs f<span class=\"_ _7\"/>or senior executiv<span class=\"_ _7\"/>es and other key managers (whereb<span class=\"_ _7\"/>y the proration is based on that part of the entire 3-year performance period that relates to the period during whic<span class=\"_ _3\"/>h they are a member of the Executiv<span class=\"_ _7\"/>e Board in 2022), and for the un<span class=\"_ _7\"/>vested performance shares a<span class=\"_ _7\"/>warded conditionally to them under the 2022 \u2013 2024 Executiv<span class=\"_ _7\"/>e Board Long-T<span class=\"_ _9\"/>erm Share Plan.  9 <span class=\"_ _b3\"> </span>This is the value at 31 December<span class=\"_ _3\"/>, 2022 of the performance shares a<span class=\"_ _7\"/>warded under the 2020 \u2013 2022 Executiv<span class=\"_ _7\"/>e Board Long-T<span class=\"_ _9\"/>erm Share Plan based on the performance realiz<span class=\"_ _7\"/>ed and the closing share price at 31 December<span class=\"_ _3\"/>, 2022 of EUR 27<span class=\"_ _8\"/>.75. These shares are sc<span class=\"_ _3\"/>heduled to vest in April 2023.  1<span class=\"_ _3\"/>0 <span class=\"_ _23\"> </span>This is the v<span class=\"_ _7\"/>alue of the performance shares aw<span class=\"_ _7\"/>arded under the 20<span class=\"_ _3\"/>19 \u2013 2021 Ex<span class=\"_ _7\"/>ecutive Board L<span class=\"_ _7\"/>ong-T<span class=\"_ _9\"/>erm Share Plan based on the performance realized and the closing share price at 31 December 2020 of EUR 42.99. <span class=\"_ _9\"/>These shares vested  in April 2022 based on a share price of EUR 29.32, resulting in the f<span class=\"_ _7\"/>ollowing values at the date of v<span class=\"_ _7\"/>esting: F<span class=\"_ _7\"/>rits Eulderink: EUR 436,458; Eelco Hoekstra: EUR 700,689; and Gerard Paulides: EUR 405,202. <span class=\"_ _9\"/>These values are also sho<span class=\"_ _7\"/>wn in the table \u20182022 movements in outstanding L<span class=\"_ _3\"/>TSP aw<span class=\"_ _7\"/>ards made to the Executive B<span class=\"_ _7\"/>oard\u2019 in this Remuneration report.  1<span class=\"_ _9\"/>1 <span class=\"_ _24\"> </span>T<span class=\"_ _7\"/>his amount reflects the recognized IFRS costs accr<span class=\"_ _7\"/>ued by the company during the financial y<span class=\"_ _7\"/>ear 2022 for the unv<span class=\"_ _7\"/>ested performance shares a<span class=\"_ _7\"/>warded conditionally to individual Executiv<span class=\"_ _7\"/>e Board members under the Long-T<span class=\"_ _9\"/>erm Share Plans 2020 \u2013 2022, 2021 \u2013 2023, and 2022 - 2024.  1<span class=\"_ _7\"/>2 <span class=\"_\"> </span>This amount reflects the recognized IFR<span class=\"_ _7\"/>S costs accrued b<span class=\"_ _7\"/>y the company during the financial year 2021 f<span class=\"_ _7\"/>or the unvested perf<span class=\"_ _7\"/>ormance shares awarded conditionally to individual Ex<span class=\"_ _7\"/>ecutive B<span class=\"_ _7\"/>oard members under Long-T<span class=\"_ _9\"/>erm Share Plans 20<span class=\"_ _7\"/>1<span class=\"_ _7\"/>9 \u2013 2021, 2020 \u2013 2022, and 2021 - 2023.  1<span class=\"_ _7\"/>3 <span class=\"_\"> </span>Mic<span class=\"_ _7\"/>hiel Gilsing was appointed as member of the Executiv<span class=\"_ _7\"/>e Board and CFO on 20 April, 2022. His remuneration entitlements related to the period 1 J<span class=\"_ _7\"/>anuar<span class=\"_ _5\"/>y - 20 April, 2022 are also included in the 2022 figures. His remuneration entitlements before this time are not included in this table as these did not relate to his Executiv<span class=\"_ _7\"/>e Board membership.  1<span class=\"_ _7\"/>4 <span class=\"_\"> </span>Eelco Hoekstra lef<span class=\"_ _7\"/>t the company on 31 January<span class=\"_ _3\"/>, 2022 as a result of his (reduced) notice period which ended on that date. In 2021, he continued to be paid in line with <span class=\"_ _3\"/>V<span class=\"_ _3\"/>opak\u2019<span class=\"_ _3\"/>s Executive B<span class=\"_ _7\"/>oard remuneration policy until the end of his ser<span class=\"_ _5\"/>vice on 31 December<span class=\"_ _3\"/>, 2021<span class=\"_ _9\"/>. In January 2022, he received the fixed part of his pac<span class=\"_ _7\"/>kage only<span class=\"_ _3\"/>. Governed b<span class=\"_ _7\"/>y the Executive B<span class=\"_ _7\"/>oard Long-T<span class=\"_ _9\"/>erm Incentive Plan Rules and the discretionary decision by the Supervisor<span class=\"_ _5\"/>y Board, Eelco Hoekstra remains eligible for full v<span class=\"_ _7\"/>esting of the unvested perf<span class=\"_ _7\"/>ormance shares awarded conditionally to him under the Ex<span class=\"_ _7\"/>ecutive Board L<span class=\"_ _7\"/>ong-T<span class=\"_ _9\"/>erm Share Plans 20<span class=\"_ _7\"/>1<span class=\"_ _7\"/>9 \u2013 2021, 2020 - 2022 and 2021 \u2013 2023; no accelerated vesting was applied.  1<span class=\"_ _7\"/>5 <span class=\"_\"> </span>The IFRS costs sho<span class=\"_ _7\"/>wn in the columns \u2018Other\u2019 and \u2018Long-term incentive<span class=\"_ _7\"/>\u2019 in this t<span class=\"_ _5\"/>able for Eelco Hoekstra include the costs in 2022 v<span class=\"_ _7\"/>ersus 2021 whic<span class=\"_ _7\"/>h the company incurred in relation to his B<span class=\"_ _7\"/>oard ser<span class=\"_ _5\"/>vices, as well as the act<span class=\"_ _7\"/>ual costs which the company incurred in 2022 and is projected to incur in 2023, and 2024 in relation to the termination of his B<span class=\"_ _7\"/>oard appointment on 1 January<span class=\"_ _7\"/>, 2022. Under IFRS<span class=\"_ _7\"/>, the costs that occur after the termination of his B<span class=\"_ _7\"/>oard appointment, i.e. af<span class=\"_ _7\"/>ter the date of the termination of his ser<span class=\"_ _5\"/>vices to the company (i.e.31 December 2021) w<span class=\"_ _7\"/>ere accelerated in 2021 on an accrual basis. <span class=\"_ _9\"/>The 2022 IFR<span class=\"_ _7\"/>S Costs amount shown in the column \u2018Other\u2019 includes a recalculation of the accrual made in 2021 to reflect for the act<span class=\"_ _7\"/>ual costs incurred in 2022 and a reassessment of any fut<span class=\"_ _7\"/>ure costs to incur in 2023 and 2024. As a result, the 2022 IFR<span class=\"_ _7\"/>S costs also include an adjustment to the earlier accrual. <span class=\"_ _9\"/>The accelerated costs f<span class=\"_ _7\"/>or the unvested 2020 \u2013 2022 and 2021 \u2013 2023 Executiv<span class=\"_ _7\"/>e Board Long-T<span class=\"_ _9\"/>erm Share Plan aw<span class=\"_ _7\"/>ards whic<span class=\"_ _7\"/>h are expected to vest in 2023 and 2024, respectiv<span class=\"_ _7\"/>ely<span class=\"_ _3\"/>, are based on modelled vesting results, whic<span class=\"_ _7\"/>h were reassessed in 2022. <span class=\"_ _9\"/>The 2022 IFRS costs also include a recalculation of the earlier accrual f<span class=\"_ _7\"/>or the actual and projected tax levy as required under the Dutc<span class=\"_ _7\"/>h income tax law 32ba/ 32bb regarding excessiv<span class=\"_ _7\"/>e severance pa<span class=\"_ _7\"/>yments (\u2018pseudo-eindhef<span class=\"_ _7\"/>fing excessie<span class=\"_ _7\"/>ve vertrekv<span class=\"_ _7\"/>ergoedingen<span class=\"_ _7\"/>\u2019) on the payments and vestings to Eelco Hoekstra in 2022 \u2013 2024.  In 2022, this tax levy was nil.1<span class=\"_ _7\"/>6 <span class=\"_\"> </span>Gerard Paulides continued to be paid in line with <span class=\"_ _3\"/>V<span class=\"_ _3\"/>opak\u2019<span class=\"_ _3\"/>s Executive B<span class=\"_ _7\"/>oard remuneration policy until the end of his sc<span class=\"_ _7\"/>heduled Board appointment on 20 April, 2022. He remained a<span class=\"_ _7\"/>vailable to the incoming CFO and to the Ro<span class=\"_ _7\"/>yal <span class=\"_ _3\"/>V<span class=\"_ _3\"/>opak Board to assist with the transition and lef<span class=\"_ _7\"/>t Roy<span class=\"_ _7\"/>al <span class=\"_ _3\"/>V<span class=\"_ _7\"/>opak on 30 June, 2022. F<span class=\"_ _3\"/>rom April 21 until 30 June, 2022, he receiv<span class=\"_ _7\"/>ed compensation equal to the fixed part of his pac<span class=\"_ _7\"/>kage only; as this compensation does not relate to his Executiv<span class=\"_ _7\"/>e Board membership, it is included in the column \u2018Other\u2019 in this t<span class=\"_ _5\"/>able. He is eligible for a prorated a<span class=\"_ _7\"/>ward under the 2022 \u2013 2024 Executiv<span class=\"_ _7\"/>e Board Long-T<span class=\"_ _9\"/>erm Share Plan for the period of J<span class=\"_ _7\"/>anuar<span class=\"_ _5\"/>y to April, 2022. Go<span class=\"_ _7\"/>verned b<span class=\"_ _7\"/>y the Executive B<span class=\"_ _7\"/>oard Long-T<span class=\"_ _9\"/>erm Incentive Plan R<span class=\"_ _7\"/>ules and the decision by the Supervisor<span class=\"_ _5\"/>y Board, Gerard Paulides remains also eligible f<span class=\"_ _7\"/>or full vesting of the unv<span class=\"_ _7\"/>ested performance shares aw<span class=\"_ _7\"/>arded conditionally to him under the Executiv<span class=\"_ _7\"/>e Board Long-T<span class=\"_ _9\"/>erm Share Plans 2020 \u2013 2022 and 2021 \u2013 2023. No accelerated vesting applies.  1<span class=\"_ _3\"/>7 <span class=\"_ _23\"> </span>The IFR<span class=\"_ _7\"/>S costs shown in the columns \u2018Other\u2019 and \u2018Long-term incentive<span class=\"_ _7\"/>\u2019 in this table for Gerard Paulides include the costs in 2022 v<span class=\"_ _7\"/>ersus 2021 which the compan<span class=\"_ _7\"/>y incurred in relation to his Board services, as well as the actual costs whic<span class=\"_ _3\"/>h the company incurred in 2022 af<span class=\"_ _3\"/>ter 20 April, 2022 and is projected to incur in 2023, 2024, and 2025 in relation to the termination of his Board appointment on 20 <span class=\"_ _7\"/>April, 2022. Under IFRS<span class=\"_ _7\"/>, the costs that occur af<span class=\"_ _7\"/>ter the termination of his Board appointment, i.e. af<span class=\"_ _7\"/>ter the date of the termination of his ser<span class=\"_ _5\"/>vices to the company (i.e. 20 <span class=\"_ _7\"/>April, 2022) were accelerated in 2021 on an accr<span class=\"_ _7\"/>ual basis. <span class=\"_ _9\"/>The 2022 IFRS Costs amount shown in the column \u2018Other\u2019 includes a recalculation of the accrual made in 2021 to reflect f<span class=\"_ _7\"/>or the actual costs incurred in 2022 and a reassessment of an<span class=\"_ _7\"/>y future costs to incur in 2023, 2024, and 2025. <span class=\"_ _7\"/>As a result, the 2022 IFRS costs also include an adjustment to the earlier accr<span class=\"_ _7\"/>ual. <span class=\"_ _9\"/>The accelerated costs for the un<span class=\"_ _7\"/>vested 2020 \u2013 2022 and 2021 \u2013 2023 Executiv<span class=\"_ _7\"/>e Board Long-T<span class=\"_ _9\"/>erm Share Plan aw<span class=\"_ _7\"/>ards that whic<span class=\"_ _7\"/>h are expected to vest in 2023 and 2024, respectiv<span class=\"_ _7\"/>ely<span class=\"_ _3\"/>, are based on modelled vesting results, whic<span class=\"_ _7\"/>h were reassessed in 2022.  The 2022 IFR<span class=\"_ _7\"/>S costs also include a recalculation of the earlier accrual for the act<span class=\"_ _7\"/>ual and projected tax levy as required under the Dutch income tax law 32ba/ 32bb regarding e<span class=\"_ _7\"/>xcessive se<span class=\"_ _7\"/>verance pa<span class=\"_ _7\"/>yments (\u2018pseudo-eindheffing e<span class=\"_ _7\"/>xcessiev<span class=\"_ _7\"/>e vertrekv<span class=\"_ _7\"/>ergoedingen<span class=\"_ _7\"/>\u2019) on the payments and vestings to Gerard P<span class=\"_ _7\"/>aulides in 2022 \u2013 2025.  In 2022, this tax levy was 84K.  2022 Supervisory Board r<span class=\"_ _3\"/>emuneration (audit<span class=\"_ _7\"/>ed) \u00b9 \u00b2  Super<span class=\"_ _9\"/>-Selection and Remu-visory A<span class=\"_ _7\"/>udit Appointment neration T<span class=\"_ _8\"/>otal T<span class=\"_ _8\"/>otal In EUR 1,00<span class=\"_ _5\"/>0  Board  Committ<span class=\"_ _7\"/>ee  Committ<span class=\"_ _7\"/>ee  Committ<span class=\"_ _7\"/>ee  2022  2021  B.J<span class=\"_ _7\"/>. Noteboom (Chairman)  <span class=\"_ _31\"> </span>97<span class=\"_ _8\"/>.5  <span class=\"_ _31\"> </span>n/a  <span class=\"_ _1c3\"> </span>7<span class=\"_ _1\"/>.0  <span class=\"_ _55\"> </span>7<span class=\"_ _d\"/>.0  <span class=\"_ _14\"> </span><span class=\"ls9e wsee\">111<span class=\"_ _7\"/>.<span class=\"_ _21\"> </span>5<span class=\"_ _4\"> </span>  <span class=\"_ _15b\"> </span>111.<span class=\"_ _4\"/>5<span class=\"_ _21\"> </span>  </span>M.F<span class=\"_ _1\"/>. Groot (Vice-Chairman)  <span class=\"_ _15a\"> </span><span class=\"ws8e\">65.0  <span class=\"_ _f9\"> </span>8.5  <span class=\"_ _100\"> </span>5.0  <span class=\"_ _87\"> </span>n/a  <span class=\"_ _11\"> </span>78.5  <span class=\"_ _1a\"> </span>78.5  </span>L.J.I. F<span class=\"_ _3\"/>oufopoulos \u2013    De Ridder (member)  <span class=\"_ _180\"> </span><span class=\"ws8e\">65.0  <span class=\"_ _f9\"> </span>8.5  <span class=\"_ _81\"> </span>n/a  <span class=\"_ _55\"> </span>7<span class=\"_ _d\"/>.0  <span class=\"_ _11\"> </span>80.5  <span class=\"_ _1a\"> </span>80.5  </span>3  N. Giadrossi (member) 65.0  <span class=\"_ _f9\"> </span>8.5  <span class=\"_ _81\"> </span>n/a  <span class=\"_ _115\"> </span>1<span class=\"_ _3\"/>0.0  <span class=\"_ _11\"> </span>83.5  <span class=\"_ _1a\"> </span>82.5  4  R.M. Hookwa<span class=\"_ _7\"/>y (member) 65.0  <span class=\"_ _f9\"> </span>8.5  <span class=\"_ _81\"> </span>n/a  <span class=\"_ _87\"> </span>n/a  <span class=\"_ _11\"> </span>73.5  <span class=\"_ _1b\"> </span>81<span class=\"_ _9\"/>.5  B. v<span class=\"_ _7\"/>an der <span class=\"_ _3\"/>V<span class=\"_ _7\"/>eer (member)  <span class=\"_ _c7\"> </span><span class=\"ws8e\">65.0  <span class=\"_ _d0\"> </span>1<span class=\"_ _7\"/>5.0  <span class=\"_ _81\"> </span>n/a  <span class=\"_ _87\"> </span>n/a  <span class=\"_ _11\"> </span>80.0  <span class=\"_ _1a\"> </span>80.0  </span>F<span class=\"_ _7\"/>ormer Super<span class=\"_ _5\"/>visor<span class=\"_ _5\"/>y Board members   5  R.G.M. Zwitserloot (member) n/a  <span class=\"_ _31\"> </span>n/a  <span class=\"_ _81\"> </span>n/a  <span class=\"_ _30\"> </span>n/a  <span class=\"_ _76\"> </span>n/a  <span class=\"_ _1a\"> </span>25.0  T<span class=\"_ _8\"/>otal  <span class=\"_ _a9\"> </span><span class=\"fc0 wsb\">422.5  <span class=\"_ _e3\"> </span>49.0  <span class=\"_ _b1\"> </span>12.0  <span class=\"_ _159\"> </span>24.0  <span class=\"_ _15b\"> </span>507<span class=\"_ _8\"/>.5  <span class=\"_ _bb\"> </span><span class=\"fcb\">539.5  </span></span>1 <span class=\"_ _b3\"> </span>Reimbursements of act<span class=\"_ _7\"/>ual expenses made by individual Supervisor<span class=\"_ _5\"/>y Board members are not included in this table as these do not qualify as remuneration.  2 <span class=\"_ _b3\"> </span>Amounts stated are gross, and excluding <span class=\"_ _3\"/>V<span class=\"_ _7\"/>A<span class=\"_ _3\"/>T<span class=\"_ _9\"/>, where applicable.  3 <span class=\"_ _b3\"> </span>Nicolet<span class=\"_ _7\"/>ta Giadrossi is Chair of the Remuneration Commit<span class=\"_ _7\"/>tee since 21 April, 2021, whic<span class=\"_ _3\"/>h is reflected in the tot<span class=\"_ _5\"/>al 2021 f<span class=\"_ _7\"/>ees shown in this table.  4 <span class=\"_ _b3\"> </span>Ric<span class=\"_ _7\"/>hard Hookway w<span class=\"_ _7\"/>as appointed as a member of the Super<span class=\"_ _5\"/>visory Board, and as a member of the A<span class=\"_ _7\"/>udit Commit<span class=\"_ _7\"/>tee on 21 April 2021<span class=\"_ _8\"/>. <span class=\"_ _3\"/>The 2021 f<span class=\"_ _7\"/>ees shown in this table include an amount of EUR 32,500 which w<span class=\"_ _7\"/>as provided to him as compensation f<span class=\"_ _7\"/>or his activities for the Super<span class=\"_ _5\"/>visory Board prior to his appointment.  5 <span class=\"_ _b3\"> </span>Rien Zwitserloot stepped down as a member of the Supervisor<span class=\"_ _5\"/>y Board, and Chair of the Remuneration Commit<span class=\"_ _7\"/>tee on 21 April, 2021<span class=\"_ _8\"/>.  Section 1 B<span class=\"_ _7\"/>asis of preparation T<span class=\"_ _9\"/>aking into account the c<span class=\"_ _7\"/>haracteristics of <span class=\"_ _3\"/>V<span class=\"_ _3\"/>opak\u2019<span class=\"_ _9\"/>s business and business model, the notes to the financial statements have been grouped into nine thematic sections rather than in consecutive order based on line items in the Consolidated primary st<span class=\"_ _5\"/>atements. Eac<span class=\"_ _3\"/>h note in a section starts with the Group\u2019<span class=\"_ _3\"/>s accounting policies as well as the critical accounting estimates and judgments made. This section contains the disclosures relev<span class=\"_ _7\"/>ant for understanding the basis of preparation of the Consolidated financial statements: \u2022 <span class=\"_ _19f\"> </span><span class=\"fc1\">Reporting entity </span>\u2022 <span class=\"_ _19f\"> </span><span class=\"fc1\">Statement of compliance </span>\u2022 <span class=\"_ _19f\"> </span><span class=\"fc1\">F<span class=\"_ _3\"/>unctional and present<span class=\"_ _5\"/>ation currency </span>\u2022 <span class=\"_ _19f\"> </span><span class=\"fc1\">Basis of measurement </span>\u2022 <span class=\"_ _19f\"> </span><span class=\"fc1\">Changes in accounting policies for 2022 </span>\u2022 <span class=\"_ _19f\"> </span><span class=\"fc1\">Going concern </span>\u2022 <span class=\"_ _19f\"> </span><span class=\"fc1\">Basis of consolidation </span>\u2022 <span class=\"_ _19f\"> </span><span class=\"fc1\">F<span class=\"_ _7\"/>oreign currency translation </span>\u2022 <span class=\"_ _19f\"> </span><span class=\"fc1\">Accounting policies, not at<span class=\"_ _3\"/>tributable to a specific section </span>\u2022 <span class=\"_ _19f\"> </span><span class=\"fc1\">Use of ke<span class=\"_ _7\"/>y accounting estimates and judgments </span>Note 1<span class=\"_ _9\"/>.1 Basis of prepar<span class=\"_ _7\"/>ation Reporting entity Koninklijk<span class=\"_ _7\"/>e <span class=\"_ _3\"/>V<span class=\"_ _3\"/>opak N.V<span class=\"_ _8\"/>. (Roy<span class=\"_ _7\"/>al <span class=\"_ _9\"/>V<span class=\"_ _3\"/>opak) has its registered office in R<span class=\"_ _7\"/>ot<span class=\"_ _3\"/>terdam (the Netherlands). V<span class=\"_ _3\"/>opak is listed on the Euronext <span class=\"_ _3\"/>Amsterdam. <span class=\"_ _9\"/>The Consolidated financial statements of the company f<span class=\"_ _7\"/>or the year ending on 31 December 2022 contain the financial figures of the company and its subsidiaries (jointly ref<span class=\"_ _3\"/>erred to as the \u2018Group\u2019), as well as the interests of the Group in joint vent<span class=\"_ _7\"/>ures and associates.  V<span class=\"_ _3\"/>opak is the world\u2019<span class=\"_ _9\"/>s leading independent tank storage provider<span class=\"_ _9\"/>, specialized in the storage and handling of liquid c<span class=\"_ _3\"/>hemicals, gases and oil products.   Statement of compliance The Consolidated financial statements hav<span class=\"_ _7\"/>e been prepared in accordance with the International Financial Reporting Standards (IFRS) as adopted b<span class=\"_ _7\"/>y the European Union (EU) and also comply with the financial reporting requirements included in P<span class=\"_ _7\"/>art 9 of Book 2 of the Dutc<span class=\"_ _3\"/>h Civil Code, as far as applicable. <span class=\"_ _9\"/>T<span class=\"_ _7\"/>he accounting policies based on IFRS<span class=\"_ _7\"/>, as described in this section, hav<span class=\"_ _7\"/>e been applied consistently for the y<span class=\"_ _7\"/>ears presented by all entities. <span class=\"_ _9\"/>T<span class=\"_ _7\"/>here were no material c<span class=\"_ _3\"/>hanges in the accounting policies applied compared to the previous y<span class=\"_ _7\"/>ear<span class=\"_ _3\"/>. The financial statements were prepared b<span class=\"_ _7\"/>y the Executiv<span class=\"_ _7\"/>e Board and appro<span class=\"_ _7\"/>ved b<span class=\"_ _7\"/>y the Super<span class=\"_ _5\"/>visor<span class=\"_ _5\"/>y Board on 1<span class=\"_ _3\"/>4 F<span class=\"_ _7\"/>ebruary 2023 and are subject to adoption by the shareholders during the Annual General Meeting. Functional and pr<span class=\"_ _3\"/>esentation curr<span class=\"_ _3\"/>ency The Consolidated financial statements are presented in euros (EUR), whic<span class=\"_ _3\"/>h is the functional and presentation currency of the <span class=\"_ _3\"/>V<span class=\"_ _3\"/>opak Group. All amounts are presented in EUR million and hav<span class=\"_ _7\"/>e been rounded to the nearest EUR 1<span class=\"_ _3\"/>00k, unless other<span class=\"_ _4\"/>wise stated. Basis of measur<span class=\"_ _7\"/>ement The Consolidated financial statements are based on the historical cost basis ex<span class=\"_ _7\"/>cept for the follo<span class=\"_ _7\"/>wing assets and liabilities, whic<span class=\"_ _3\"/>h are measured at fair value: deriv<span class=\"_ _7\"/>ative financial instruments, other financial assets (measured at f<span class=\"_ _7\"/>air value through other comprehensiv<span class=\"_ _7\"/>e income), assets held for sale (when measured at f<span class=\"_ _7\"/>air value less cost of disposal) and defined benefit pension plans (plan assets measured at fair v<span class=\"_ _7\"/>alue). Changes in accounting policies f<span class=\"_ _7\"/>or 2022 The applied accounting principles adopted in the preparation of the Consolidated financial statements are consistent with those described in <span class=\"_ _3\"/>V<span class=\"_ _3\"/>opak\u2019<span class=\"_ _9\"/>s 2021 Annual Report.   Going concer<span class=\"_ _7\"/>n The Ex<span class=\"_ _7\"/>ecutive B<span class=\"_ _7\"/>oard has assessed the going-concern assumptions, during the preparation  <span class=\"ls6\"> </span>of the Group\u2019<span class=\"_ _9\"/>s Consolidated financial st<span class=\"_ _5\"/>atements. <span class=\"_ _8\"/>The Executiv<span class=\"_ _7\"/>e Board belie<span class=\"_ _7\"/>ves that no  <span class=\"ls6\"> </span>ev<span class=\"_ _7\"/>ents or conditions, including those related to the ongoing CO<span class=\"_ _3\"/>VID-1<span class=\"_ _7\"/>9 pandemic and the<span class=\"_ _5\"/> Russia-Ukraine w<span class=\"_ _7\"/>ar<span class=\"_ _3\"/>, give rise to doubt about the ability of the Group to continue in operation   in the next reporting period. <span class=\"_ _8\"/>This conclusion is dra<span class=\"_ _7\"/>wn based on knowledge of the Group,  <span class=\"ls6\"> </span>the estimated economic outlook and identified risks and uncertainties in relation thereto.<span class=\"_ _5\"/>  <span class=\"ls6\"> </span> F<span class=\"_ _3\"/>urthermore, this conclusion is based on a review of the budget f<span class=\"_ _7\"/>or the next financial y<span class=\"_ _7\"/>ear<span class=\"_ _3\"/>, including expected de<span class=\"_ _7\"/>velopments in liquidity and capital, current credit facilities av<span class=\"_ _3\"/>ailable<span class=\"_ _5\"/> including contractual and e<span class=\"_ _7\"/>xpected maturities and co<span class=\"_ _3\"/>venants. Consequently<span class=\"_ _3\"/>, it has been concluded that it is reasonable to apply the going-concern concept as the underlying assumption for the financial statements. <span class=\"ls6\"> </span> F<span class=\"_ _7\"/>or further details on the impact of the macro-economic and geopolitical uncert<span class=\"_ _5\"/>ainty on the<span class=\"_ _5\"/> V<span class=\"_ _3\"/>opak Group, ref<span class=\"_ _7\"/>erence is made to note 9.3. Basis of consolidation Subsidiar<span class=\"_ _7\"/>ies <span class=\"ff1\">are entities controlled by the Group. <span class=\"_ _9\"/>V<span class=\"_ _3\"/>opak controls an entit<span class=\"_ _5\"/>y when it is </span>exposed to, or has rights to, v<span class=\"_ _7\"/>ariable returns from its in<span class=\"_ _7\"/>volv<span class=\"_ _7\"/>ement with the entity and has the ability to aff<span class=\"_ _3\"/>ect those returns through its po<span class=\"_ _7\"/>wer o<span class=\"_ _7\"/>ver the entity<span class=\"_ _3\"/>. <span class=\"_ _9\"/>The financial statements of subsidiaries are included in the Consolidated financial statements from the date on whic<span class=\"_ _7\"/>h control commences until the date on whic<span class=\"_ _3\"/>h control ceases, using consistent accounting policies. Non-controlling int<span class=\"_ _7\"/>er<span class=\"_ _7\"/>ests<span class=\"ff1\"> in equit<span class=\"_ _5\"/>y and in results are presented separately<span class=\"_ _9\"/>. <span class=\"_ _9\"/>T<span class=\"_ _9\"/>ransactions </span>with non-controlling interests that do not result in loss of control are accounted for as transactions with shareholders. F<span class=\"_ _7\"/>or purc<span class=\"_ _3\"/>hases of non-controlling interests, the diff<span class=\"_ _3\"/>erence between any consideration paid and the rele<span class=\"_ _7\"/>vant share acquired of the carrying value of the net asset of the subsidiar<span class=\"_ _5\"/>y is recorded directly in equity<span class=\"_ _3\"/>. Gains or losses on disposals of non-controlling interests are also recorded directly in equity<span class=\"_ _3\"/>.  Upon initial recognition, a non-controlling interest is measured either at its proportionate interest in the fair v<span class=\"_ _7\"/>alue of the net assets acquired or full fair v<span class=\"_ _7\"/>alue, whic<span class=\"_ _7\"/>h is elected on a transaction-by<span class=\"_ _7\"/>-transaction basis. The Group\u2019<span class=\"_ _9\"/>s interests in equity-accounted in<span class=\"_ _7\"/>vestees comprise interests in joint vent<span class=\"_ _3\"/>ures and associates. Joint v<span class=\"_ _7\"/>entur<span class=\"_ _7\"/>e<span class=\"ff1\"> is an arrangement in whic<span class=\"_ _3\"/>h the Group has joint control, whereby the Group </span>has rights to the net assets of the arrangement, rather than rights to its assets and obligations for its liabilities. Associa<span class=\"fc1b lsa6 ws124\">te</span><span class=\"fc1b\">s</span><span class=\"ff1\"> are entities in whic<span class=\"_ _7\"/>h the Group has significant influence, but no control or </span>joint control, ov<span class=\"_ _7\"/>er the financial and operating policies. Upon loss of control<span class=\"ff1\">, the Group derecogniz<span class=\"_ _7\"/>es the assets and liabilities of the subsidiar<span class=\"_ _5\"/>y<span class=\"_ _3\"/>, </span>any non-controlling interests and the other components of equity related to the subsidiar<span class=\"_ _5\"/>y<span class=\"_ _3\"/>. Any surplus or deficit arising on the loss of control is recogniz<span class=\"_ _7\"/>ed in profit or loss. When the Group ceases to consolidate or equity account for an inv<span class=\"_ _7\"/>estment because of a loss of control, joint control or significant influence, any retained interest in the entity is remeasured to its fair v<span class=\"_ _7\"/>alue with the c<span class=\"_ _3\"/>hange in carr<span class=\"_ _5\"/>ying amount recognized in profit or loss. This f<span class=\"_ _7\"/>air value becomes the initial carrying amount for the purpose of subsequently accounting for the retained interest as an associate, joint vent<span class=\"_ _7\"/>ure or financial asset. In addition, any amounts pre<span class=\"_ _7\"/>viously recognized in other comprehensiv<span class=\"_ _7\"/>e income are reclassified to the income statement. If the ownership interest in a joint v<span class=\"_ _7\"/>enture or an associate is reduced but joint control or significant influence is retained, only a proportionate share of the amounts previously recognized in other comprehensiv<span class=\"_ _7\"/>e income is reclassified to profit or loss where appropriate. T<span class=\"_ _8\"/>ransactions eliminat<span class=\"_ _7\"/>ed on consolidation:<span class=\"ff1\"> all inter<span class=\"_ _9\"/>-company balances and transactions, </span>including unrealized gains and losses on transactions, are eliminated on consolidation. Unrealized gains arising from transactions with joint v<span class=\"_ _7\"/>entures and associates are eliminated to the extent of the Group\u2019<span class=\"_ _9\"/>s interest in the equity<span class=\"_ _3\"/>. Unrealized losses are eliminated in the same manner as unrealized gains, but only to the e<span class=\"_ _7\"/>xtent that there is no evidence of impairment. F<span class=\"_ _7\"/>or a list of the principal subsidiaries, joint vent<span class=\"_ _7\"/>ures, associates and inv<span class=\"_ _7\"/>estments, ref<span class=\"_ _7\"/>erence is made to note 9.1<span class=\"_ _9\"/>1<span class=\"_ _8\"/>. For<span class=\"_ _3\"/>eign curr<span class=\"_ _3\"/>ency translation Items included in the financial statements of eac<span class=\"_ _7\"/>h of the Group\u2019<span class=\"_ _9\"/>s entities are measured using the currency of the primar<span class=\"_ _5\"/>y economic en<span class=\"_ _7\"/>vironment in whic<span class=\"_ _7\"/>h the entity operates (\u2018the functional currency\u2019). F<span class=\"_ _7\"/>oreign currency transactions are translated into the functional currency using the e<span class=\"_ _7\"/>xc<span class=\"_ _3\"/>hange rate at the dates of the transactions, or valuation date where items are remeasured. F<span class=\"_ _3\"/>oreign ex<span class=\"_ _7\"/>c<span class=\"_ _3\"/>hange gains and losses resulting from the settlement of suc<span class=\"_ _3\"/>h transactions and from the translation at period-end ex<span class=\"_ _7\"/>c<span class=\"_ _3\"/>hange rates of monet<span class=\"_ _5\"/>ar<span class=\"_ _5\"/>y assets and liabilities denominated in foreign cur<span class=\"_ _7\"/>rencies are recognized in the statement of income, except when def<span class=\"_ _3\"/>erred in other comprehensive income as qualifying cash flo<span class=\"_ _7\"/>w hedges or net inv<span class=\"_ _7\"/>estment hedges. Upon consolidation, the assets and liabilities of non-Euro entities, including goodwill and fair v<span class=\"_ _7\"/>alue adjustments at the time of the acquisition, are translated into euros at the year<span class=\"_ _9\"/>-end rates of ex<span class=\"_ _7\"/>c<span class=\"_ _3\"/>hange (closing exc<span class=\"_ _3\"/>hange rates). <span class=\"_ _9\"/>The items of the statement of income of foreign activities are translated at the av<span class=\"_ _7\"/>erage ex<span class=\"_ _7\"/>c<span class=\"_ _7\"/>hange rates for the reporting period.    The resulting translation dif<span class=\"_ _3\"/>f<span class=\"_ _7\"/>erences of the net inv<span class=\"_ _7\"/>estments in foreign operations are recognized as f<span class=\"_ _7\"/>oreign currency translation reser<span class=\"_ _5\"/>ve mo<span class=\"_ _3\"/>vements (translation reser<span class=\"_ _5\"/>ve) in other comprehensive income. <span class=\"_ _8\"/>The same applies to e<span class=\"_ _7\"/>xc<span class=\"_ _3\"/>hange dif<span class=\"_ _7\"/>ferences arising from loans dra<span class=\"_ _7\"/>wn and other financial instruments to the e<span class=\"_ _7\"/>xtent that these hedge the currency risk related to the net inv<span class=\"_ _7\"/>estment.  Upon disposal of all or part of an interest in an entity<span class=\"_ _3\"/>, or upon liquidation of an entit<span class=\"_ _5\"/>y<span class=\"_ _9\"/>, cumulative cur<span class=\"_ _7\"/>rency translation dif<span class=\"_ _7\"/>f<span class=\"_ _7\"/>erences related to that entit<span class=\"_ _5\"/>y are recognized in the income statement. <span class=\"_ _3\"/>When the Group disposes of only part of its interest in a subsidiar<span class=\"_ _5\"/>y with a foreign operation, while retaining control, the relev<span class=\"_ _7\"/>ant portion of the cumulative amount is not transf<span class=\"_ _7\"/>erred to profit or loss but reat<span class=\"_ _3\"/>tributed to non-controlling interests. Upon disposal of a foreign activity with a non-controlling interest, the cumulative amount relating to the non-controlling interests shall be derecognized, but shall not be reclassified to profit or loss. A share capital or share premium distribution by an entity is not considered to be a partial disposal when the Group retains its relative legal share in the entity<span class=\"_ _3\"/>. The f<span class=\"_ _7\"/>ollowing main e<span class=\"_ _7\"/>xc<span class=\"_ _3\"/>hange rates are used in the financial st<span class=\"_ _5\"/>atements: Closing exc<span class=\"_ _7\"/>hange rat<span class=\"_ _7\"/>e <span class=\"_ _69\"> </span>A<span class=\"_ _7\"/>ver<span class=\"_ _7\"/>age exc<span class=\"_ _7\"/>hange r<span class=\"_ _7\"/>ate EUR 1<span class=\"_ _7\"/>.00 is equivalent to <span class=\"_ _4c\"> </span>2022 <span class=\"_ _7f\"> </span><span class=\"fc7\">2021 <span class=\"_ _1b2\"> </span></span>2022 <span class=\"_ _1b2\"> </span>2021US dollar <span class=\"_ _139\"> </span>1<span class=\"_ _9\"/>.07 <span class=\"_ _88\"> </span>1<span class=\"_ _8\"/>.13 <span class=\"_ _66\"> </span>1<span class=\"_ _9\"/>.05 <span class=\"_ _88\"> </span>1<span class=\"_ _9\"/>.1<span class=\"_ _7\"/>8 Singapore dollar <span class=\"_ _231\"> </span>1<span class=\"_ _9\"/>.43 <span class=\"_ _2f\"> </span>1<span class=\"_ _9\"/>.53 <span class=\"_ _2f\"> </span>1<span class=\"_ _9\"/>.45 <span class=\"_ _2f\"> </span>1<span class=\"_ _9\"/>.59 Chinese yuan <span class=\"_ _99\"> </span>7<span class=\"_ _d\"/>.42 <span class=\"_ _108\"> </span>7<span class=\"_ _1\"/>.22 <span class=\"_ _108\"> </span>7<span class=\"_ _d\"/>.08 <span class=\"_ _108\"> </span>7<span class=\"_ _1\"/>.63 Australian dollar <span class=\"_ _b4\"> </span>1<span class=\"_ _9\"/>.57 <span class=\"_ _2f\"> </span>1<span class=\"_ _9\"/>.56 <span class=\"_ _2f\"> </span>1<span class=\"_ _9\"/>.52 <span class=\"_ _2f\"> </span>1<span class=\"_ _9\"/>.57 Brazilian real <span class=\"_ _6a\"> </span>5.63 <span class=\"_ _45\"> </span>6.31 <span class=\"_ _45\"> </span>5.44 <span class=\"_ _45\"> </span>6.38 Accounting policies,<span class=\"_ _3\"/> not attr<span class=\"_ _3\"/>ibutable to a specific section The Group\u2019<span class=\"_ _9\"/>s significant accounting policies are described in the rele<span class=\"_ _7\"/>vant individual notes to the Consolidated financial statements or other<span class=\"_ _4\"/>wise stated below<span class=\"_ _9\"/>. A list of the notes is shown in the table of contents preceding the financial statements. Offset<span class=\"_ _3\"/>ting of financial instruments Financial assets and liabilities are of<span class=\"_ _7\"/>fset and the net amount is reported in the balance sheet only when there is a legally enforceable right to of<span class=\"_ _3\"/>fset the recognized amounts and there is an intention to set<span class=\"_ _3\"/>tle on a net basis or realize the asset and set<span class=\"_ _3\"/>tle the liabilit<span class=\"_ _5\"/>y simultaneously<span class=\"_ _3\"/>. Cash flow stat<span class=\"_ _7\"/>ement The cash flo<span class=\"_ _7\"/>w statement is prepared based on the indirect method. Cash flows denominated in foreign cur<span class=\"_ _7\"/>rencies are translated at average e<span class=\"_ _3\"/>xc<span class=\"_ _7\"/>hange rates. Exc<span class=\"_ _3\"/>hange and translation gains and losses on cash and cash equivalents (including cur<span class=\"_ _7\"/>rent liabilities arising from short-term credit facilities) are presented separately<span class=\"_ _9\"/>. The Consolidated statement of cash flows sho<span class=\"_ _7\"/>ws the Group\u2019<span class=\"_ _9\"/>s cash flows from operating, inv<span class=\"_ _7\"/>esting and financing activities for the y<span class=\"_ _7\"/>ear<span class=\"_ _3\"/>. Use of k<span class=\"_ _7\"/>ey accounting estimat<span class=\"_ _7\"/>es and judgments Preparing the Consolidated financial statements means that the Group must use insights, estimates and assumptions that could af<span class=\"_ _7\"/>f<span class=\"_ _7\"/>ect the reported assets and liabilities and the information provided on contingent assets and liabilities as at the statement of financial position date as well as the reported income and expenses. <span class=\"_ _8\"/>The actual results ma<span class=\"_ _7\"/>y ultimately dif<span class=\"_ _7\"/>fer from these estimates. <span class=\"_ _9\"/>The estimates and the underlying assumptions are re<span class=\"_ _7\"/>view<span class=\"_ _7\"/>ed on a regular basis. Adjustments are made in the period in whic<span class=\"_ _3\"/>h the estimates were revie<span class=\"_ _7\"/>wed if the adjustment af<span class=\"_ _7\"/>f<span class=\"_ _7\"/>ects that period, or in the relevant period and the fut<span class=\"_ _3\"/>ure periods if the adjustment aff<span class=\"_ _3\"/>ects both current and fut<span class=\"_ _7\"/>ure periods.   Management insights, estimates and assumptions that could hav<span class=\"_ _7\"/>e a significant impact on the financial statements are: \u2022 <span class=\"_ _192\"> </span><span class=\"fc1\">The term of land lease contracts (note 3.4) </span>\u2022 <span class=\"_ _192\"> </span><span class=\"fc1\">Assets held f<span class=\"_ _7\"/>or sale (note 3.6) </span>\u2022 <span class=\"_ _192\"> </span><span class=\"fc1\">Useful lif<span class=\"_ _7\"/>e and residual value of property<span class=\"_ _3\"/>, plant and equipment (note 3.7) </span>\u2022 <span class=\"_ _192\"> </span><span class=\"fc1\">Impairment analysis (note 3.8) </span>\u2022 <span class=\"_ _192\"> </span><span class=\"fc1\">Derivativ<span class=\"_ _7\"/>e financial instruments (note 6.2) </span>\u2022 <span class=\"_ _192\"> </span><span class=\"fc1\">Def<span class=\"_ _7\"/>erred tax assets (note 8.2) </span>\u2022 <span class=\"_ _192\"> </span><span class=\"fc1\">Pro<span class=\"_ _7\"/>visions (note 9.5). </span>Although both the CO<span class=\"_ _3\"/>VID-19 pandemic and R<span class=\"_ _7\"/>ussia-Ukraine war has a limited impact on the <span class=\"_ _9\"/>V<span class=\"_ _7\"/>opak Group, a comprehensive o<span class=\"_ _7\"/>verview of the impact is included in note 9.3. Climate r<span class=\"_ _3\"/>isk V<span class=\"_ _3\"/>opak\u2019<span class=\"_ _9\"/>s business model of \u2018storing vit<span class=\"_ _5\"/>al products with care\u2019 means that the Group connects supply and demand for products and enables the deliv<span class=\"_ _7\"/>er<span class=\"_ _5\"/>y of products that are vital to the economy and daily liv<span class=\"_ _7\"/>es of people across the globe. Supply and demand and subsequent imbalances remain a ke<span class=\"_ _7\"/>y driver behind storage and it is not foreseen that these imbalances will be resolved in the near fut<span class=\"_ _7\"/>ure, although demand for some of the products ma<span class=\"_ _7\"/>y c<span class=\"_ _7\"/>hange as a result of substitution f<span class=\"_ _7\"/>or cleaner products. Nev<span class=\"_ _7\"/>ertheless, as a large part of our current business relates to fossil-based products,  <span class=\"_ _15e\"/>climate c<span class=\"_ _7\"/>hange and the transition to a low<span class=\"_ _7\"/>er carbon economy were considered in preparing the Consolidated financial statements.   The Group re<span class=\"_ _7\"/>viewed k<span class=\"_ _7\"/>ey accounting estimates in the financial statements, including among others useful lives of fix<span class=\"_ _7\"/>ed assets (note 3.7), impairment considerations (note 3.8) and/or environmental provisions (note 9.5)<span class=\"ws3f\">. T<span class=\"_ _7\"/><span class=\"ws3\">here is significant uncertaint<span class=\"_ _5\"/>y surrounding the wa<span class=\"_ _7\"/>ys in whic<span class=\"_ _3\"/>h societ<span class=\"_ _5\"/>y and </span></span>the world econom<span class=\"_ _7\"/>y will c<span class=\"_ _7\"/>hange ov<span class=\"_ _7\"/>er the next 30 years and the e<span class=\"_ _7\"/>xtent to whic<span class=\"_ _7\"/>h suc<span class=\"_ _7\"/>h c<span class=\"_ _7\"/>hanges will meet the aspirations of the Paris <span class=\"_ _3\"/>Agreement. <span class=\"_ _9\"/>The pace and se<span class=\"_ _7\"/>verity of climate c<span class=\"_ _7\"/>hange, as well as accompanying go<span class=\"_ _7\"/>vernment policy and the energy transition, impact the estimates. <span class=\"_ _9\"/>T<span class=\"_ _7\"/>herefore these remain subject to constant review and monitoring.   Fo<span class=\"_ _5\"/><span class=\"ls6 ws3\">r our 2022 Financial Statements, the Group does not see any evidence that <span class=\"_ _9\"/>V<span class=\"_ _3\"/>opak\u2019<span class=\"_ _3\"/>s balance </span>sheet materially ov<span class=\"_ _7\"/>erstated assets or materially underst<span class=\"_ _5\"/>ated liabilities.  Section 2 Group operating perf<span class=\"_ _7\"/>ormance This section comprises notes whic<span class=\"_ _3\"/>h provide specifications and e<span class=\"_ _7\"/>xplanations related to the Group\u2019<span class=\"_ _9\"/>s operating performance f<span class=\"_ _7\"/>or the year<span class=\"_ _9\"/>, including disclosures on segment<span class=\"_ _5\"/>ation. The f<span class=\"_ _7\"/>ollowing notes are presented in this section:  \u2022 <span class=\"_ _19f\"> </span><span class=\"fc1\">2.1 Segment information </span>\u2022 <span class=\"_ _19f\"> </span><span class=\"fc1\">2.2 Exceptional items </span>\u2022 <span class=\"_ _19f\"> </span><span class=\"fc1\">2.3 Re<span class=\"_ _7\"/>venues </span>\u2022 <span class=\"_ _19f\"> </span><span class=\"fc1\">2.4 Other operating income </span>\u2022 <span class=\"_ _19f\"> </span><span class=\"fc1\">2.5 P<span class=\"_ _3\"/>ersonnel expenses </span>\u2022 <span class=\"_ _19f\"> </span><span class=\"fc1\">2.6 Other operating expenses </span>\u2022 <span class=\"_ _19f\"> </span><span class=\"fc1\">2.7 Result of joint v<span class=\"_ _7\"/>entures and associates </span>\u2022 <span class=\"_ _19f\"> </span><span class=\"fc1\">2.8 <span class=\"_ _9\"/>T<span class=\"_ _8\"/>ranslation and operational currency risk </span>\u2022 <span class=\"_ _19f\"> </span><span class=\"fc1\">2.9 Cash flows from operating activities (gross) </span>Note 2.1 Segment inf<span class=\"_ _3\"/>ormation A<span class=\"_ _1e\"> </span><span class=\"ff3 fs9\">Accounting policies </span>The accounting policies of the reportable segments are the same as the Group\u2019<span class=\"_ _9\"/>s accounting policies described throughout the notes when relev<span class=\"_ _7\"/>ant. Reportable segments Operating segments are reported in a manner consistent with the internal reporting provided to the Executiv<span class=\"_ _7\"/>e Board, whic<span class=\"_ _3\"/>h is the c<span class=\"_ _7\"/>hief operating decision maker<span class=\"_ _9\"/>. <span class=\"_ _9\"/>The division str<span class=\"_ _3\"/>ucture is primarily based on geographical markets. Business activities that cannot be allocated to an<span class=\"_ _7\"/>y other segment are reported under \u2018Global functions and corporate activities<span class=\"_ _7\"/>\u2019<span class=\"_ _9\"/>. <span class=\"_ _9\"/>T<span class=\"_ _7\"/>hese include primarily the head of<span class=\"_ _7\"/>fice costs, the Global IT costs and e<span class=\"_ _7\"/>xpenses related to other interests. V<span class=\"_ _3\"/>opak\u2019<span class=\"_ _9\"/>s five divisions are <span class=\"_ _7\"/>Americas, A<span class=\"_ _7\"/>sia &amp; Middle East, China &amp; North A<span class=\"_ _7\"/>sia, Europe &amp; Africa and New Energy &amp; LNG.  The EBI<span class=\"_ _7\"/>TD<span class=\"_ _3\"/>A and Group operating profit of the divisions include the net eff<span class=\"_ _3\"/>ects of the company<span class=\"_ _7\"/>-wide cost allocations. Costs that cannot be allocated to the divisions are part of the \u2018Global functions and corporate activities<span class=\"_ _7\"/>\u2019<span class=\"_ _9\"/>. <span class=\"_ _9\"/>T<span class=\"_ _7\"/>he actual allocated costs can dif<span class=\"_ _3\"/>fer per reporting period. Statement of income Global func-of whic<span class=\"_ _7\"/>h   Asia &amp;   of whic<span class=\"_ _7\"/>h China &amp;   of whic<span class=\"_ _7\"/>h New Energ<span class=\"_ _7\"/>y   tions and cor<span class=\"_ _7\"/>po<span class=\"ws3\">-</span>Amer<span class=\"_ _7\"/>icas United States Middle East Singapore North Asia <span class=\"_ _1b\"> </span>Europe <span class=\"_ _4\"/>&amp; Afr<span class=\"_ _7\"/>ica Netherlands &amp; LNG rat<span class=\"_ _7\"/>e activities <span class=\"_ _f\"> </span>T<span class=\"_ _9\"/>otal In EUR millions <span class=\"_ _1c3\"> </span>2022 <span class=\"_ _147\"> </span><span class=\"fc7\">2021 <span class=\"_ _147\"> </span></span>2022 <span class=\"_ _10\"> </span><span class=\"fc7\">2021 <span class=\"_ _147\"> </span></span>2022 <span class=\"_ _147\"> </span><span class=\"fc7\">2021 <span class=\"_ _147\"> </span></span>2022 <span class=\"_ _147\"> </span><span class=\"fc7\">2021 <span class=\"_ _147\"> </span></span>2022 <span class=\"_ _10\"> </span><span class=\"fc7\">2021 <span class=\"_ _147\"> </span></span>2022 <span class=\"_ _147\"> </span><span class=\"fc7\">2021 <span class=\"_ _147\"> </span></span>2022 <span class=\"_ _147\"> </span><span class=\"fc7\">2021 <span class=\"_ _147\"> </span></span>2022 <span class=\"_ _10\"> </span><span class=\"fc7\">2021 <span class=\"_ _147\"> </span></span>2022 <span class=\"_ _147\"> </span><span class=\"fc7\">2021 <span class=\"_ _147\"> </span></span>2022 <span class=\"_ _37\"> </span><span class=\"fc7 wsb\"> <span class=\"_ _c\"> </span>2021  </span>1  <span class=\"fs31 fc1\">Re<span class=\"_ _7\"/>venues </span>387<span class=\"_ _1\"/>.0 <span class=\"_ _13c\"> </span>326.6 <span class=\"_ _13c\"> </span><span class=\"ff41\">228.8 <span class=\"_ _13c\"> </span>184.7 <span class=\"_ _13c\"> </span></span>328.7 <span class=\"_ _232\"> </span>284.1 <span class=\"_ _232\"> </span>252.6 <span class=\"_ _8f\"> </span>21<span class=\"_ _7\"/>7<span class=\"_ _1\"/>.7 <span class=\"_ _19\"> </span>51<span class=\"_ _9\"/>.5 <span class=\"_ _17\"> </span>44.7 <span class=\"_ _13c\"> </span>593.4 <span class=\"_ _13c\"> </span>566.0 <span class=\"_ _147\"> </span>431<span class=\"_ _9\"/>.7 <span class=\"_ _147\"> </span>421<span class=\"_ _9\"/>.1 <span class=\"_ _b2\"> </span><span class=\"ff1\">n.a. <span class=\"_ _b2\"> </span>n.a. <span class=\"_ _60\"> </span>6.4 <span class=\"_ _60\"> </span>6.5 <span class=\"_ _18\"> </span>1,367<span class=\"_ _1\"/>.0 <span class=\"_ _15\"> </span>1,227<span class=\"_ _1\"/>.9 </span>Other operating income <span class=\"_ _aa\"> </span>8.1 <span class=\"_ _14\"> </span>1<span class=\"_ _9\"/>1<span class=\"_ _9\"/>.3 <span class=\"_ _38\"> </span>7<span class=\"_ _d\"/>.9 <span class=\"_ _60\"> </span>8.6 <span class=\"_ _1a\"> </span>1<span class=\"_ _7\"/>5.6 <span class=\"_ _21c\"> </span>12.8 <span class=\"_ _27\"> </span>2.2 <span class=\"_ _155\"> </span>1<span class=\"_ _8\"/>.3 <span class=\"_ _60\"> </span><span class=\"ff1\">8.9 <span class=\"_ _60\"> </span>6.9 <span class=\"_ _27\"> </span>2.7 <span class=\"_ _60\"> </span>6.5 <span class=\"_ _27\"> </span></span>2.1 <span class=\"_ _60\"> </span>3.0 <span class=\"_ _27\"> </span><span class=\"ff1\">3.6 <span class=\"_ _60\"> </span>3.7 <span class=\"_ _c3\"> </span>\u2013 <span class=\"_ _21c\"> </span>- 0.1 <span class=\"_ _21c\"> </span>38.9 <span class=\"_ _9d\"> </span>41<span class=\"_ _9\"/>.1 </span>Operating expenses <span class=\"_ _aa\"> </span>- 1<span class=\"_ _7\"/>83.0 <span class=\"_ _12\"> </span>- 159.9 <span class=\"_ _1dc\"> </span>- 1<span class=\"_ _9\"/>1<span class=\"_ _7\"/>5.5 <span class=\"_ _13c\"> </span>- 92.3 <span class=\"_ _37\"> </span><span class=\"ff1\">- 1<span class=\"_ _8\"/>1<span class=\"_ _3\"/>1<span class=\"_ _9\"/>.7 <span class=\"_ _12\"> </span>- 1<span class=\"_ _3\"/>0<span class=\"_ _5\"/>0.0 <span class=\"_ _232\"> </span><span class=\"ff41\">- 79.9 <span class=\"_ _13c\"> </span>- 62.4 <span class=\"_ _13c\"> </span></span>- 28.2 <span class=\"_ _13c\"> </span>- 22.1 <span class=\"_ _1dc\"> </span>- 321<span class=\"_ _8\"/>.6 <span class=\"_ _10b\"> </span>- 27<span class=\"_ _3\"/>6.8 <span class=\"_ _13\"> </span><span class=\"ff41\">- 244.4 <span class=\"_ _13\"> </span>- 202.1 <span class=\"_ _10\"> </span></span>- 1<span class=\"_ _7\"/>4.3 <span class=\"_ _8f\"> </span>- 1<span class=\"_ _9\"/>1<span class=\"_ _8\"/>.1 <span class=\"_ _13c\"> </span>- 54.6 <span class=\"_ _13c\"> </span>- 58.2 <span class=\"_ _12\"> </span>- 713.4 <span class=\"_ _15\"> </span>- 628.1 </span>Result joint v<span class=\"_ _7\"/>entures and associates <span class=\"_ _185\"> </span>1<span class=\"_ _7\"/>4.5 <span class=\"_ _1a\"> </span>1<span class=\"_ _3\"/>2.0 <span class=\"_ _60\"> </span>4.4 <span class=\"_ _155\"> </span>1<span class=\"_ _8\"/>.5 <span class=\"_ _21c\"> </span><span class=\"ff1\">79.0 <span class=\"_ _21c\"> </span>83.9 <span class=\"_ _27\"> </span></span>0.7 <span class=\"_ _60\"> </span>0.5 <span class=\"_ _17\"> </span><span class=\"ff1\">40.2 <span class=\"_ _21c\"> </span>38.9 <span class=\"_ _60\"> </span>3.0 <span class=\"_ _27\"> </span>4.0 <span class=\"_ _155\"> </span></span>1<span class=\"_ _9\"/>.1 <span class=\"_ _22c\"> </span>1<span class=\"_ _9\"/>.0 <span class=\"_ _17\"> </span><span class=\"ff1\">58.9 <span class=\"_ _233\"> </span>47<span class=\"_ _1\"/>.3 <span class=\"_ _17\"> </span>- 0.9 <span class=\"_ _21c\"> </span>- 0.4 <span class=\"_ _10\"> </span>1<span class=\"_ _7\"/>94.7 <span class=\"_ _13c\"> </span>185.7 </span>EBITD<span class=\"_ _7\"/>A 226.6 <span class=\"_ _37\"> </span>190.0 <span class=\"_ _fd\"> </span>125.6 <span class=\"_ _bb\"> </span>1<span class=\"_ _3\"/>02.5 <span class=\"_ _232\"> </span>31<span class=\"_ _3\"/>1<span class=\"_ _7\"/>.6 <span class=\"_ _37\"> </span>280.8 <span class=\"_ _37\"> </span>1<span class=\"_ _7\"/>75.6 <span class=\"_ _13c\"> </span>157<span class=\"_ _8\"/>.1 <span class=\"_ _15b\"> </span>72.4 <span class=\"_ _142\"> </span>68.4 <span class=\"_ _13c\"> </span>277<span class=\"_ _8\"/>.5 <span class=\"_ _37\"> </span>299.7 <span class=\"_ _37\"> </span>1<span class=\"_ _7\"/>90.5 <span class=\"_ _37\"> </span>223.0 <span class=\"_ _142\"> </span><span class=\"ff3\">48.2 <span class=\"_ _15b\"> </span>39.9 <span class=\"_ _fd\"> </span>- 49.1 <span class=\"_ _fe\"> </span>- 52.2 <span class=\"_ _13c\"> </span>887<span class=\"_ _8\"/>.2 <span class=\"_ _37\"> </span>826.6 </span>Depreciation and amortization <span class=\"_ _5a\"> </span>- 65.8 <span class=\"_ _13c\"> </span>- 64.3 <span class=\"_ _13c\"> </span><span class=\"ff41\">- 39.9 <span class=\"_ _13c\"> </span>- 34.9 <span class=\"_ _13c\"> </span></span>- 75.6 <span class=\"_ _232\"> </span>- 66.4 <span class=\"_ _13c\"> </span><span class=\"ff41\">- 56.0 <span class=\"_ _13c\"> </span>- 48.4 <span class=\"_ _10\"> </span></span>- 1<span class=\"_ _3\"/>2.8 <span class=\"_ _8f\"> </span>- 1<span class=\"_ _9\"/>1<span class=\"_ _9\"/>.9 <span class=\"_ _12\"> </span>- 1<span class=\"_ _7\"/>65.4 <span class=\"_ _10a\"> </span>- 1<span class=\"_ _7\"/>71<span class=\"_ _9\"/>.4 <span class=\"_ _1dc\"> </span>- 1<span class=\"_ _9\"/>13.7 <span class=\"_ _13\"> </span>- 120.5 <span class=\"_ _c3\"> </span><span class=\"ff1\">\u2013 <span class=\"_ _c3\"> </span>\u2013 <span class=\"_ _13c\"> </span>- 20.3 <span class=\"_ _8f\"> </span>- 1<span class=\"_ _3\"/>7<span class=\"_ _1\"/>.8 <span class=\"_ _13\"> </span>- 339.9 <span class=\"_ _1dc\"> </span>- 331<span class=\"_ _9\"/>.8 </span>T<span class=\"_ _8\"/>otal EBIT excluding exceptional it<span class=\"_ _7\"/>ems <span class=\"_ _d4\"> </span><span class=\"fc0\">160.8 <span class=\"_ _37\"> </span></span>125.7 <span class=\"_ _15b\"> </span>85.7 <span class=\"_ _21c\"> </span>67<span class=\"_ _8\"/>.6 <span class=\"_ _37\"> </span>236.0 <span class=\"_ _fd\"> </span><span class=\"fcb\">214.4 <span class=\"_ _b\"> </span></span>1<span class=\"_ _3\"/>19.6 <span class=\"_ _37\"> </span>1<span class=\"_ _7\"/>08.7 <span class=\"_ _15b\"> </span>59.6 <span class=\"_ _15b\"> </span><span class=\"fcb\">56.5 <span class=\"_ _b\"> </span></span>1<span class=\"_ _9\"/>12.1 <span class=\"_ _37\"> </span><span class=\"fcb\">128.3 <span class=\"_ _15b\"> </span></span>76.8 <span class=\"_ _37\"> </span>1<span class=\"_ _7\"/>02.5 <span class=\"_ _15b\"> </span><span class=\"ff3 fc0\">48.2 <span class=\"_ _15b\"> </span><span class=\"fcb\">39.9 <span class=\"_ _fe\"> </span></span>- 69.4 <span class=\"_ _fd\"> </span><span class=\"fcb\">- 70.0 <span class=\"_ _232\"> </span></span>547<span class=\"_ _8\"/>.3 <span class=\"_ _37\"> </span><span class=\"fcb\">494.8 </span></span>Exceptional items <span class=\"_ _8d\"> </span>- 8.6 <span class=\"_ _13c\"> </span>- 75.8 <span class=\"_ _98\"> </span>- 0.8 <span class=\"_ _22c\"> </span>1<span class=\"_ _9\"/>.5 <span class=\"_ _134\"> </span>\u2013 <span class=\"_ _c3\"> </span>\u2013 <span class=\"_ _13\"> </span>- 420.4 <span class=\"_ _fb\"> </span>\u2013 <span class=\"_ _1b0\"> </span>- 33.4 <span class=\"_ _10\"> </span>- 1<span class=\"_ _3\"/>0.8 <span class=\"_ _c3\"> </span>\u2013 <span class=\"_ _fb\"> </span>\u2013 <span class=\"_ _15\"> </span>- 463.2 <span class=\"_ _13c\"> </span>- 85.1 T<span class=\"_ _8\"/>otal EBIT including exceptional it<span class=\"_ _7\"/>ems <span class=\"_ _d4\"> </span><span class=\"fc0\">152.2 <span class=\"_ _15b\"> </span></span>49.9 <span class=\"_ _234\"> </span><span class=\"fc0\">235.2 <span class=\"_ _37\"> </span></span>215.9 <span class=\"_ _73\"> </span><span class=\"fc0\">59.6 <span class=\"_ _15b\"> </span></span>56.5 <span class=\"_ _28\"> </span><span class=\"fc0\">- 308.3 <span class=\"_ _37\"> </span></span>128.3 <span class=\"_ _73\"> </span><span class=\"fc0\">14.8 <span class=\"_ _15b\"> </span></span>29.1 <span class=\"_ _10\"> </span><span class=\"fc0\">-69.4 <span class=\"_ _10\"> </span></span>-70.0 <span class=\"_ _15b\"> </span><span class=\"fc0\">84.1 <span class=\"_ _37\"> </span></span>409.7 2 Reconciliation consolidated net pr<span class=\"_ _7\"/>ofit / (loss) Net finance costs <span class=\"_ _235\"> </span>- 1<span class=\"_ _7\"/>20.7 <span class=\"_ _10b\"> </span>- 1<span class=\"_ _9\"/>06.5 Profit / (loss) bef<span class=\"_ _7\"/>ore income tax - 36.6 <span class=\"_ _37\"> </span>303.2 Income tax <span class=\"_ _236\"> </span>- 1<span class=\"_ _3\"/>0<span class=\"_ _3\"/>1<span class=\"_ _9\"/>.2 <span class=\"_ _13c\"> </span>- 60.0 Net profit / (loss) <span class=\"_ _237\"> </span><span class=\"fc0\">- 137<span class=\"_ _8\"/>.8 <span class=\"_ _37\"> </span><span class=\"fcb\">243.2 </span></span>Non-controlling interests <span class=\"_ _238\"> </span>- 30.6 <span class=\"_ _232\"> </span>- 29.0 Net profit (loss) holders   of ordinary shar<span class=\"_ _7\"/>es <span class=\"_ _239\"> </span><span class=\"fc0\">- 168.4 <span class=\"_ _37\"> </span></span>214.2 Occupancy rate subsidiaries 94% <span class=\"_ _116\"> </span>90% <span class=\"_ _73\"> </span>86% <span class=\"_ _116\"> </span>87% <span class=\"_ _73\"> </span>73% <span class=\"_ _116\"> </span>75% <span class=\"_ _142\"> </span>86% <span class=\"_ _116\"> </span>87% <span class=\"_ _23a\"> </span>87% <span class=\"_ _116\"> </span>87% 1 <span class=\"_ _b3\"> </span>The Group has one single global customer who contributed both y<span class=\"_ _7\"/>ears presented just above 1<span class=\"_ _9\"/>0% of the consolidated revenues. All divisions pro<span class=\"_ _7\"/>vided ser<span class=\"_ _5\"/>vices to this single global customer<span class=\"_ _3\"/>. 2 <span class=\"_ _b3\"> </span>As the Group neither allocates interest expenses to segments, nor accounts f<span class=\"_ _7\"/>or taxes in them, there is no segmented disclosure of the net profit / (loss). Segmentation Statement of financial position Global func-of whic<span class=\"_ _7\"/>h   Asia &amp;   of whic<span class=\"_ _7\"/>h China &amp;   of whic<span class=\"_ _7\"/>h New Energ<span class=\"_ _7\"/>y   tions and cor<span class=\"_ _7\"/>po<span class=\"ws3\">-</span>Amer<span class=\"_ _7\"/>icas United States Middle East Singapore North Asia <span class=\"_ _1b\"> </span>Europe <span class=\"_ _4\"/>&amp; Afr<span class=\"_ _7\"/>ica Netherlands &amp; LNG rat<span class=\"_ _7\"/>e activities <span class=\"_ _f\"> </span>T<span class=\"_ _9\"/>otal In EUR millions <span class=\"_ _1c3\"> </span><span class=\"fs7 fc0\">2022 <span class=\"_ _147\"> </span><span class=\"fc7\">2021 <span class=\"_ _147\"> </span></span>2022 <span class=\"_ _10\"> </span><span class=\"fc7\">2021 <span class=\"_ _147\"> </span></span>2022 <span class=\"_ _147\"> </span><span class=\"fc7\">2021 <span class=\"_ _147\"> </span></span>2022 <span class=\"_ _147\"> </span><span class=\"fc7\">2021 <span class=\"_ _147\"> </span></span>2022 <span class=\"_ _10\"> </span><span class=\"fc7\">2021 <span class=\"_ _147\"> </span></span>2022 <span class=\"_ _147\"> </span><span class=\"fc7\">2021 <span class=\"_ _147\"> </span></span>2022 <span class=\"_ _147\"> </span><span class=\"fc7\">2021 <span class=\"_ _147\"> </span></span>2022 <span class=\"_ _10\"> </span><span class=\"fc7\">2021 <span class=\"_ _147\"> </span></span>2022 <span class=\"_ _147\"> </span><span class=\"fc7\">2021 <span class=\"_ _147\"> </span></span>2022 <span class=\"_ _147\"> </span><span class=\"fc7\">2021 </span></span>Assets of subsidiaries <span class=\"_ _39\"> </span>1,1<span class=\"_ _3\"/>33.1 <span class=\"_ _e7\"> </span>1,1<span class=\"_ _7\"/>7<span class=\"_ _3\"/>6.1 <span class=\"_ _13c\"> </span><span class=\"ff41\">624.0 <span class=\"_ _13c\"> </span>582.9 <span class=\"_ _15\"> </span></span>1,257<span class=\"_ _d\"/>.5 <span class=\"_ _119\"> </span>1,250.8 <span class=\"_ _232\"> </span><span class=\"ff41\">888.8 <span class=\"_ _13c\"> </span>860.9 <span class=\"_ _232\"> </span></span>208.6 <span class=\"_ _13c\"> </span>233.3 <span class=\"_ _119\"> </span>2,133.2 <span class=\"_ _b3\"> </span>2,500.2 <span class=\"_ _28\"> </span>1,400.2 <span class=\"_ _e7\"> </span>1,751<span class=\"_ _9\"/>.2 <span class=\"_ _60\"> </span><span class=\"ff1\">2.7 <span class=\"_ _27\"> </span>0.5 <span class=\"_ _13c\"> </span>386.2 <span class=\"_ _13c\"> </span>342.5 <span class=\"_ _18\"> </span>5,1<span class=\"_ _7\"/>21<span class=\"_ _9\"/>.3 <span class=\"_ _28\"> </span>5,503.4 </span>Joint v<span class=\"_ _7\"/>entures and associates <span class=\"_ _148\"> </span>325.6 <span class=\"_ _13c\"> </span>292.3 <span class=\"_ _13c\"> </span><span class=\"ff41\">239.3 <span class=\"_ _13c\"> </span>203.6 <span class=\"_ _232\"> </span></span>728.8 <span class=\"_ _13c\"> </span>486.5 <span class=\"_ _155\"> </span>1<span class=\"_ _8\"/>.3 <span class=\"_ _155\"> </span>1<span class=\"_ _9\"/>.1 <span class=\"_ _8e\"> </span>367<span class=\"_ _1\"/>.0 <span class=\"_ _13c\"> </span>343.4 <span class=\"_ _1a\"> </span>1<span class=\"_ _7\"/>9.1 <span class=\"_ _17\"> </span>20.0 <span class=\"_ _155\"> </span>1<span class=\"_ _9\"/>.7 <span class=\"_ _22c\"> </span>1<span class=\"_ _9\"/>.5 <span class=\"_ _8e\"> </span><span class=\"ff1\">437<span class=\"_ _1\"/>.1 <span class=\"_ _13c\"> </span>440.2 <span class=\"_ _60\"> </span>0.2 <span class=\"_ _27\"> </span>0.9 <span class=\"_ _15\"> </span>1,877<span class=\"_ _1\"/>.8 <span class=\"_ _28\"> </span>1,583.3 </span>T<span class=\"_ _8\"/>otal assets <span class=\"_ _cb\"> </span><span class=\"fc0\">1,458.7 <span class=\"_ _34\"> </span></span>1,468.4 <span class=\"_ _37\"> </span><span class=\"ff19 fc0\">863.3 <span class=\"_ _fd\"> </span><span class=\"fcb\">786.5 <span class=\"_ _19f\"> </span></span><span class=\"ff3\">1,986.3 <span class=\"_ _b3\"> </span></span></span>1,737<span class=\"_ _1\"/>.3 <span class=\"_ _37\"> </span><span class=\"ff19 fc0\">890.1 <span class=\"_ _fd\"> </span><span class=\"fcb\">862.0 <span class=\"_ _37\"> </span></span><span class=\"ff3\">575.6 <span class=\"_ _37\"> </span></span></span>576.7 <span class=\"_ _34\"> </span><span class=\"fc0\">2,152.3 <span class=\"_ _34\"> </span></span>2,520.2 <span class=\"_ _117\"> </span>1,40<span class=\"_ _7\"/>1<span class=\"_ _7\"/>.9 <span class=\"_ _34\"> </span><span class=\"fcb\">1,752.7 <span class=\"_ _37\"> </span></span><span class=\"ff3\">439.8 <span class=\"_ _fd\"> </span><span class=\"fcb\">440.7 <span class=\"_ _37\"> </span></span>386.4 <span class=\"_ _fd\"> </span><span class=\"fcb\">343.4 <span class=\"_ _19f\"> </span></span>6,999.1 <span class=\"_ _b3\"> </span><span class=\"fcb\">7<span class=\"_ _1\"/>,086.7 </span></span>T<span class=\"_ _8\"/>otal liabilities <span class=\"_ _45\"> </span><span class=\"fc0\">261.9 <span class=\"_ _fd\"> </span></span>255.7 <span class=\"_ _37\"> </span>135.9 <span class=\"_ _fd\"> </span><span class=\"fcb\">143.4 <span class=\"_ _232\"> </span></span>71<span class=\"_ _3\"/>1<span class=\"_ _7\"/>.8 <span class=\"_ _37\"> </span><span class=\"fcb\">625.2 <span class=\"_ _37\"> </span></span>531<span class=\"_ _7\"/>.0 <span class=\"_ _37\"> </span><span class=\"fcb\">490.9 <span class=\"_ _142\"> </span></span>23.6 <span class=\"_ _15b\"> </span><span class=\"fcb\">49.1 <span class=\"_ _37\"> </span></span>532.9 <span class=\"_ _fd\"> </span><span class=\"fcb\">548.9 <span class=\"_ _37\"> </span></span>398.1 <span class=\"_ _fd\"> </span><span class=\"fcb\">409.5 <span class=\"_ _1a2\"> </span></span><span class=\"ff3\">5.4 <span class=\"_ _1a2\"> </span><span class=\"fcb\">8.1 <span class=\"_ _b3\"> </span></span>2,317<span class=\"_ _1\"/>.2 <span class=\"_ _19f\"> </span><span class=\"fcb\">2,254.1 <span class=\"_ _34\"> </span></span>3,852.8 <span class=\"_ _117\"> </span><span class=\"fcb\">3,741<span class=\"_ _3\"/>.1 </span></span> 1 Inv<span class=\"_ _3\"/>estmentsGlobal func-of whic<span class=\"_ _7\"/>h   Asia &amp;   of whic<span class=\"_ _7\"/>h China &amp;   of whic<span class=\"_ _7\"/>h New Energ<span class=\"_ _7\"/>y   tions and cor<span class=\"_ _7\"/>po<span class=\"ws3\">-</span>Amer<span class=\"_ _7\"/>icas United States Middle East Singapore North Asia <span class=\"_ _1b\"> </span>Europe <span class=\"_ _4\"/>&amp; Afr<span class=\"_ _7\"/>ica Netherlands &amp; LNG rat<span class=\"_ _7\"/>e activities <span class=\"_ _f\"> </span>T<span class=\"_ _9\"/>otal In EUR millions <span class=\"_ _1c3\"> </span><span class=\"fs7 fc0\">2022 <span class=\"_ _147\"> </span><span class=\"fc7\">2021 <span class=\"_ _147\"> </span></span>2022 <span class=\"_ _10\"> </span><span class=\"fc7\">2021 <span class=\"_ _147\"> </span></span>2022 <span class=\"_ _147\"> </span><span class=\"fc7\">2021 <span class=\"_ _147\"> </span></span>2022 <span class=\"_ _147\"> </span><span class=\"fc7\">2021 <span class=\"_ _147\"> </span></span>2022 <span class=\"_ _10\"> </span><span class=\"fc7\">2021 <span class=\"_ _147\"> </span></span>2022 <span class=\"_ _147\"> </span><span class=\"fc7\">2021 <span class=\"_ _147\"> </span></span>2022 <span class=\"_ _147\"> </span><span class=\"fc7\">2021 <span class=\"_ _147\"> </span></span>2022 <span class=\"_ _10\"> </span><span class=\"fc7\">2021 <span class=\"_ _147\"> </span></span>2022 <span class=\"_ _147\"> </span><span class=\"fc7\">2021 <span class=\"_ _147\"> </span></span>2022 <span class=\"_ _147\"> </span><span class=\"fc7\">2021 </span></span>Intangible assets <span class=\"_ _6d\"> </span>1<span class=\"_ _9\"/>.3 <span class=\"_ _60\"> </span>3.0 <span class=\"_ _27\"> </span><span class=\"ff41\">0.8 <span class=\"_ _60\"> </span>2.1 <span class=\"_ _60\"> </span></span>0.1 <span class=\"_ _27\"> </span>0.6 <span class=\"_ _60\"> </span><span class=\"ff41\">0.2 <span class=\"_ _27\"> </span>0.5 <span class=\"_ _fb\"> </span></span>\u2013 <span class=\"_ _27\"> </span>0.3 <span class=\"_ _60\"> </span>3.7 <span class=\"_ _27\"> </span>3.8 <span class=\"_ _155\"> </span>1<span class=\"_ _9\"/>.5 <span class=\"_ _27\"> </span>3.0 <span class=\"_ _fb\"> </span><span class=\"ff1\">\u2013 <span class=\"_ _c3\"> </span>\u2013 <span class=\"_ _1a\"> </span>1<span class=\"_ _3\"/>2.8 <span class=\"_ _b2\"> </span>1<span class=\"_ _3\"/>7<span class=\"_ _1\"/>.7 <span class=\"_ _14\"> </span>1<span class=\"_ _7\"/>7<span class=\"_ _1\"/>.9 <span class=\"_ _21c\"> </span>25.4 </span>Property<span class=\"_ _3\"/>, plant and 2 equipment 91<span class=\"_ _9\"/>.1 <span class=\"_ _10\"> </span>1<span class=\"_ _3\"/>72.4 <span class=\"_ _21c\"> </span>54.7 <span class=\"_ _10\"> </span>1<span class=\"_ _3\"/>22.1 <span class=\"_ _21c\"> </span><span class=\"ff1\">48.3 <span class=\"_ _17\"> </span>63.9 <span class=\"_ _19\"> </span></span>41<span class=\"_ _9\"/>.1 <span class=\"_ _17\"> </span>40.6 <span class=\"_ _14\"> </span>1<span class=\"_ _9\"/>1<span class=\"_ _9\"/>.3 <span class=\"_ _1a\"> </span>1<span class=\"_ _7\"/>3.0 <span class=\"_ _8f\"> </span>21<span class=\"_ _3\"/>7<span class=\"_ _1\"/>.8 <span class=\"_ _13c\"> </span>230.2 <span class=\"_ _10\"> </span>1<span class=\"_ _7\"/>83.9 <span class=\"_ _8f\"> </span>1<span class=\"_ _3\"/>77<span class=\"_ _1\"/>.6 <span class=\"_ _fb\"> </span><span class=\"ff1\">\u2013 <span class=\"_ _c3\"> </span>\u2013 <span class=\"_ _155\"> </span>1<span class=\"_ _8\"/>.5 <span class=\"_ _155\"> </span>1<span class=\"_ _9\"/>.8 <span class=\"_ _232\"> </span>370.0 <span class=\"_ _90\"> </span>481<span class=\"_ _9\"/>.3 </span>Joint v<span class=\"_ _7\"/>entures and associates <span class=\"_ _164\"> </span>9.0 <span class=\"_ _21c\"> </span>25.5 <span class=\"_ _27\"> </span><span class=\"ff41\">9.0 <span class=\"_ _21c\"> </span>24.9 <span class=\"_ _c3\"> </span></span>\u2013 <span class=\"_ _233\"> </span>57<span class=\"_ _1\"/>.0 <span class=\"_ _fb\"> </span><span class=\"ff41\">\u2013 <span class=\"_ _c3\"> </span>\u2013 <span class=\"_ _17\"> </span></span>23.8 <span class=\"_ _60\"> </span>9.6 <span class=\"_ _c3\"> </span>\u2013 <span class=\"_ _fb\"> </span>\u2013 <span class=\"_ _c3\"> </span><span class=\"ff41\">\u2013 <span class=\"_ _c3\"> </span>\u2013 <span class=\"_ _155\"> </span></span>1<span class=\"_ _9\"/>.5 <span class=\"_ _21c\"> </span>16.5 <span class=\"_ _27\"> </span>0.4 <span class=\"_ _22c\"> </span>1<span class=\"_ _9\"/>.4 <span class=\"_ _21c\"> </span>34.7 <span class=\"_ _8e\"> </span>1<span class=\"_ _9\"/>1<span class=\"_ _3\"/>0.0 Other non-current assets <span class=\"_ _c3\"> </span>0.1 <span class=\"_ _60\"> </span>0.2 <span class=\"_ _c3\"> </span><span class=\"ff41\">\u2013 <span class=\"_ _c3\"> </span>\u2013 <span class=\"_ _60\"> </span></span>0.4 <span class=\"_ _21c\"> </span>- 0.2 <span class=\"_ _27\"> </span><span class=\"ff41\">0.4 <span class=\"_ _21c\"> </span>- 0.2 <span class=\"_ _60\"> </span></span>0.4 <span class=\"_ _27\"> </span>0.2 <span class=\"_ _c3\"> </span>\u2013 <span class=\"_ _155\"> </span>1<span class=\"_ _9\"/>.1 <span class=\"_ _c3\"> </span>\u2013 <span class=\"_ _155\"> </span>1<span class=\"_ _8\"/>.1 <span class=\"_ _fb\"> </span><span class=\"ff1\">\u2013 <span class=\"_ _c3\"> </span>\u2013 <span class=\"_ _fb\"> </span>\u2013 <span class=\"_ _c3\"> </span>\u2013 <span class=\"_ _27\"> </span>0.9 <span class=\"_ _155\"> </span>1<span class=\"_ _9\"/>.3 </span>T<span class=\"_ _8\"/>otal <span class=\"_ _1ff\"> </span>1<span class=\"_ _3\"/>0<span class=\"_ _3\"/>1.5 <span class=\"_ _bb\"> </span>20<span class=\"_ _7\"/>1<span class=\"_ _7\"/>.1 <span class=\"_ _15b\"> </span><span class=\"ff19 fc0\">64.5 <span class=\"_ _37\"> </span><span class=\"fcb\">149.1 <span class=\"_ _142\"> </span></span><span class=\"ff3\">48.8 <span class=\"_ _bb\"> </span></span></span>121<span class=\"_ _7\"/>.3 <span class=\"_ _143\"> </span>41.7 <span class=\"_ _142\"> </span><span class=\"fcb\">40.9 <span class=\"_ _15b\"> </span></span><span class=\"ff3\">35.5 <span class=\"_ _15b\"> </span></span>23.1 <span class=\"_ _37\"> </span><span class=\"fc0\">221.5 <span class=\"_ _fd\"> </span></span>235.1 <span class=\"_ _37\"> </span>185.4 <span class=\"_ _37\"> </span>181<span class=\"_ _7\"/>.7 <span class=\"_ _26\"> </span><span class=\"ff3 fc0\">1<span class=\"_ _7\"/>.5 <span class=\"_ _15b\"> </span><span class=\"fcb\">16.5 <span class=\"_ _15b\"> </span></span>14.7 <span class=\"_ _15b\"> </span><span class=\"fcb\">20.9 <span class=\"_ _37\"> </span></span>423.5 <span class=\"_ _37\"> </span><span class=\"fcb\">61<span class=\"_ _7\"/>8.0 </span></span>1 <span class=\"_ _b3\"> </span>Excluding loans granted, finance lease receiv<span class=\"_ _7\"/>ables and acquisition of subsidiaries, joint ventures and associates. 2 <span class=\"_ _b3\"> </span>Relates only to P<span class=\"_ _7\"/>ropert<span class=\"_ _5\"/>y<span class=\"_ _3\"/>, plant and equipment - owned assets. Note 2.2 Ex<span class=\"_ _3\"/>ceptional items  A<span class=\"_ _1e\"> </span><span class=\"ff3 fs9\">Gr<span class=\"_ _7\"/>oup policy </span>The items in the statement of income include items that are ex<span class=\"_ _7\"/>ceptional by nat<span class=\"_ _7\"/>ure from a management perspective based on their siz<span class=\"_ _7\"/>e and/or nature. F<span class=\"_ _3\"/>or the definition of ex<span class=\"_ _7\"/>ceptional items applied by the compan<span class=\"_ _7\"/>y<span class=\"_ _3\"/>, ref<span class=\"_ _7\"/>erence is made to the Glossar<span class=\"_ _5\"/>y<span class=\"_ _3\"/>. <span class=\"_ _9\"/>T<span class=\"_ _7\"/>he material exceptional items are disclosed separately in the notes when relev<span class=\"_ _7\"/>ant in order to increase transparency<span class=\"_ _3\"/>. Exceptional it<span class=\"_ _3\"/>ems In EUR millions <span class=\"_ _206\"> </span>Note <span class=\"_ _76\"> </span>2022 <span class=\"_ _76\"> </span>2021Gains on assets held for sale/div<span class=\"_ _7\"/>estments <span class=\"_ _1bd\"> </span><span class=\"ff3 fc13\">2.4 <span class=\"_ _c9\"> </span></span>25.0 <span class=\"_ _55\"> </span>\u2013 Loss on assets held f<span class=\"_ _7\"/>or sale/divestments <span class=\"_ _6a\"> </span><span class=\"ff3 fc13\">2.6 <span class=\"_ _c9\"> </span></span>- 6.0 <span class=\"_ _fb\"> </span>- 0.7 Impairment <span class=\"_ _209\"> </span><span class=\"ff3 fc13\">3.8 <span class=\"_ _ad\"> </span></span>- 448.8 <span class=\"_ _ce\"> </span>- 71<span class=\"_ _8\"/>.0 Other operating expenses <span class=\"_ _171\"> </span><span class=\"ff3 fc13\">2.6 <span class=\"_ _d9\"> </span></span>- 1<span class=\"_ _8\"/>.0 <span class=\"_ _55\"> </span>\u2013 Operating pr<span class=\"_ _7\"/>ofit - 430.8 <span class=\"_ _155\"> </span>- 71<span class=\"_ _7\"/>.7 Result joint v<span class=\"_ _7\"/>entures and associates <span class=\"_ _20a\"> </span><span class=\"ff3 fc13\">2.7 <span class=\"_ _bd\"> </span></span>- 32.4 <span class=\"_ _39\"> </span>- 1<span class=\"_ _3\"/>3.4 Group oper<span class=\"_ _7\"/>ating profit - 463.2 <span class=\"_ _22c\"> </span>- 85.1 Finance costs <span class=\"_ _206\"> </span><span class=\"ff3 fc13\">5.6 <span class=\"_ _190\"> </span></span>\u2013 <span class=\"_ _55\"> </span>\u2013 Profit bef<span class=\"_ _7\"/>ore income tax - 463.2 <span class=\"_ _22c\"> </span>- 85.1 T<span class=\"_ _9\"/>ax on above-mentioned items <span class=\"_ _94\"> </span><span class=\"ff3 fc13\">8.1 <span class=\"_ _d4\"> </span></span>0.4 <span class=\"_ _55\"> </span>\u2013 Release def<span class=\"_ _3\"/>erred t<span class=\"_ _5\"/>axes due to c<span class=\"_ _3\"/>hange in tax rates <span class=\"_ _23b\"> </span><span class=\"ff3 fc13\">8.1 <span class=\"_ _190\"> </span></span>\u2013 <span class=\"_ _e3\"> </span>1<span class=\"_ _9\"/>.0 T<span class=\"_ _8\"/>otal eff<span class=\"_ _7\"/>ect on net profit <span class=\"_ _23c\"> </span><span class=\"fc0\">- 462.8 <span class=\"_ _22c\"> </span></span>- 84.1 F<span class=\"_ _7\"/>or more information on the individual e<span class=\"_ _7\"/>xceptional items, including their amount and nat<span class=\"_ _7\"/>ure, ref<span class=\"_ _7\"/>erence is made to the corresponding notes. <span class=\"_ _7\"/>A reconciliation bet<span class=\"_ _5\"/>ween the income statement based on IFRS and the income statement excluding e<span class=\"_ _7\"/>xceptional items, is presented in the next table. 2022 <span class=\"_ _a0\"> </span>2021 Excluding Excluding IFRS  <span class=\"ws3\"> </span>Exceptional exceptional exceptional In EUR millions figures items items items Re<span class=\"_ _7\"/>venues <span class=\"_ _23d\"> </span>1,367<span class=\"_ _1\"/>.0 <span class=\"_ _108\"> </span>\u2013 <span class=\"_ _d2\"> </span>1,367<span class=\"_ _1\"/>.0 <span class=\"_ _ea\"> </span>1,227<span class=\"_ _1\"/>.9 Other operating income <span class=\"_ _2b\"> </span>63.9 <span class=\"_ _87\"> </span>25.0 <span class=\"_ _f9\"> </span>38.9 <span class=\"_ _55\"> </span>41<span class=\"_ _8\"/>.1 T<span class=\"_ _8\"/>otal operating income 1,430.9 <span class=\"_ _4d\"> </span>25.0 <span class=\"_ _a8\"> </span>1,405.9 <span class=\"_ _19a\"> </span>1,269.0 P<span class=\"_ _3\"/>ersonnel expenses <span class=\"_ _af\"> </span>- 364.9 <span class=\"_ _108\"> </span>\u2013 <span class=\"_ _f\"> </span>- 364.9 <span class=\"_ _f\"> </span>- 342.7 Impairment <span class=\"_ _7a\"> </span>- 448.8 <span class=\"_ _f\"> </span>- 448.8 <span class=\"_ _108\"> </span>\u2013 <span class=\"_ _108\"> </span>\u2013 Other operating expenses <span class=\"_ _98\"> </span>- 355.5 <span class=\"_ _69\"> </span>- 7<span class=\"_ _d\"/>.0 <span class=\"_ _f\"> </span>- 348.5 <span class=\"_ _f\"> </span>- 285.4 Result joint v<span class=\"_ _7\"/>entures and associates <span class=\"_ _52\"> </span>1<span class=\"_ _7\"/>62.3 <span class=\"_ _115\"> </span>- 32.4 <span class=\"_ _115\"> </span>194.7 <span class=\"_ _115\"> </span>185.7 Group oper<span class=\"_ _7\"/>ating profit / (loss) bef<span class=\"_ _7\"/>ore depreciation and amor<span class=\"_ _7\"/>tization (EBITD<span class=\"_ _7\"/>A) 424.0 <span class=\"_ _f7\"> </span>- 463.2 <span class=\"_ _93\"> </span>887<span class=\"_ _8\"/>.2 <span class=\"_ _bc\"> </span>826.6 Depreciation and amortization <span class=\"_ _1d9\"> </span>- 339.9 <span class=\"_ _108\"> </span>\u2013 <span class=\"_ _f\"> </span>- 339.9 <span class=\"_ _140\"> </span>- 331<span class=\"_ _9\"/>.8 Group oper<span class=\"_ _7\"/>ating profit / (loss) (EBIT) 84.1 <span class=\"_ _f7\"> </span>- 463.2 <span class=\"_ _93\"> </span>547<span class=\"_ _8\"/>.3 <span class=\"_ _bc\"> </span>494.8 Interest  income <span class=\"_ _42\"> </span>7<span class=\"_ _d\"/>.3 <span class=\"_ _108\"> </span>\u2013 <span class=\"_ _1b2\"> </span>7<span class=\"_ _1\"/>.3 <span class=\"_ _4f\"> </span>5.6 Finance costs <span class=\"_ _de\"> </span>- 1<span class=\"_ _7\"/>28.0 <span class=\"_ _108\"> </span>\u2013 <span class=\"_ _1b1\"> </span>- 1<span class=\"_ _7\"/>28.0 <span class=\"_ _2e\"> </span>- 1<span class=\"_ _9\"/>12.1 Net finance costs - 120.7 <span class=\"_ _88\"> </span>\u2013 <span class=\"_ _c2\"> </span>- 120.7 <span class=\"_ _fb\"> </span>- 1<span class=\"_ _3\"/>06.5 Profit / (loss) bef<span class=\"_ _7\"/>ore income tax <span class=\"_ _1be\"> </span><span class=\"fs7\">- 36.6 <span class=\"_ _f7\"> </span>- 463.2 <span class=\"_ _bc\"> </span>426.6 <span class=\"_ _18e\"> </span>388.3 </span>Income tax <span class=\"_ _23e\"> </span>- 1<span class=\"_ _3\"/>0<span class=\"_ _3\"/>1<span class=\"_ _9\"/>.2 <span class=\"_ _131\"> </span>0.4 <span class=\"_ _159\"> </span>- 1<span class=\"_ _3\"/>0<span class=\"_ _3\"/>1<span class=\"_ _9\"/>.6 <span class=\"_ _19b\"> </span>- 61<span class=\"_ _9\"/>.0 Net profit / (loss) <span class=\"_ _e5\"> </span>- 137<span class=\"_ _8\"/>.8 <span class=\"_ _f7\"> </span>- 462.8 <span class=\"_ _bc\"> </span><span class=\"fc0\">325.0 <span class=\"_ _115\"> </span></span>327<span class=\"_ _8\"/>.3 At<span class=\"_ _7\"/>tributable to: Holders of ordinar<span class=\"_ _5\"/>y shares <span class=\"_ _14a\"> </span>- 168.4 <span class=\"_ _ea\"> </span>- 462.8 <span class=\"_ _115\"> </span>294.4 <span class=\"_ _93\"> </span>298.3 Non-controlling interests <span class=\"_ _79\"> </span>30.6 <span class=\"_ _88\"> </span>\u2013 <span class=\"_ _30\"> </span>30.6 <span class=\"_ _f9\"> </span>29.0 Net profit / (loss) <span class=\"_ _e5\"> </span>- 137<span class=\"_ _8\"/>.8 <span class=\"_ _f7\"> </span>- 462.8 <span class=\"_ _bc\"> </span><span class=\"fc0\">325.0 <span class=\"_ _115\"> </span></span>327<span class=\"_ _8\"/>.3 Basic ear<span class=\"_ _7\"/>nings per ordinary shar<span class=\"_ _7\"/>e (in EUR) <span class=\"_ _95\"> </span><span class=\"fs7\">- 1<span class=\"_ _7\"/>.34 <span class=\"_ _29\"> </span>2.35 <span class=\"_ _4d\"> </span>2.38 </span>Diluted ear<span class=\"_ _3\"/>nings per ordinary share (in EUR) <span class=\"_ _76\"> </span><span class=\"fs7\">- 1<span class=\"_ _3\"/>.34 <span class=\"_ _29\"> </span>2.34 <span class=\"_ _4d\"> </span>2.37 </span>Note 2.3 Rev<span class=\"_ _3\"/>enues The Group operates bulk liquids and gas storage terminals in k<span class=\"_ _7\"/>ey strategic ports. <span class=\"_ _8\"/>The Group owns and operates specializ<span class=\"_ _7\"/>ed facilities including tanks, jet<span class=\"_ _3\"/>ties, truc<span class=\"_ _3\"/>k loading st<span class=\"_ _5\"/>ations and pipelines. In many instances, the Group stores the customers\u00b4 products for e<span class=\"_ _7\"/>xtended periods at the terminals, of<span class=\"_ _3\"/>ten under strict specified conditions such as controlled temperat<span class=\"_ _3\"/>ures. The Group also blends components according to customer specifications.  The Group ensures saf<span class=\"_ _3\"/>e, clean and ef<span class=\"_ _7\"/>ficient storage and handling of bulk liquid products and gases for its customers. By doing so, the Group enables the deliv<span class=\"_ _7\"/>er<span class=\"_ _5\"/>y of vital products, ranging from c<span class=\"_ _3\"/>hemicals, oil, gases and LNG to biofuels and vegoils. A<span class=\"_ _1e\"> </span><span class=\"ff3 fs9\">Accounting policies </span>Re<span class=\"_ _7\"/>venue from contracts with customers is recogniz<span class=\"_ _7\"/>ed when control of the goods or ser<span class=\"_ _5\"/>vices are transf<span class=\"_ _7\"/>erred to the customer at an amount that reflects the consideration to whic<span class=\"_ _3\"/>h the Group expects to be entitled in e<span class=\"_ _7\"/>xc<span class=\"_ _3\"/>hange for those services or goods. Rev<span class=\"_ _7\"/>enues ex<span class=\"_ _7\"/>cludes amounts collected on behalf of third parties and are net of discounts and value added taxes. Monthly storage rates and prices for other services are contractually agreed before the ser<span class=\"_ _5\"/>vices are rendered and do not contain material variable components. <span class=\"_ _3\"/>When it is probable that the Group will collect the consideration to whic<span class=\"_ _3\"/>h it will be entitled, the recognition in the statement of income is in proportion to the st<span class=\"_ _5\"/>age of the rendered performance as at the end of the reporting period.  The Group has a right to a consideration from a customer in an amount that cor<span class=\"_ _7\"/>responds directly with the value to the customer of the entity\u2019<span class=\"_ _9\"/>s ser<span class=\"_ _5\"/>vices completed to date. <span class=\"_ _9\"/>T<span class=\"_ _9\"/>ank storage rentals, including minimum guaranteed throughputs, are recognized ev<span class=\"_ _7\"/>enly ov<span class=\"_ _7\"/>er the contractual period during whic<span class=\"_ _3\"/>h the ser<span class=\"_ _5\"/>vices are rendered. Re<span class=\"_ _7\"/>venues from e<span class=\"_ _7\"/>xcess throughputs, heating/cooling, homogenization, product movements and other services are recognized when these services are rendered. Customers simult<span class=\"_ _5\"/>aneously consume and benefit from the ser<span class=\"_ _5\"/>vices at the moment that these are rendered, resulting in a situation where rev<span class=\"_ _7\"/>enue is recognized o<span class=\"_ _7\"/>ver time. Modifications of property<span class=\"_ _3\"/>, plant and equipment upfront paid by customers are accounted f<span class=\"_ _7\"/>or as prepaid rev<span class=\"_ _7\"/>enues and recognized in the statement of income over the contract<span class=\"_ _7\"/>ual period on a straight-line basis.  Storage f<span class=\"_ _7\"/>ees are mostly inv<span class=\"_ _7\"/>oiced upfront in the month preceding the month to whic<span class=\"_ _7\"/>h the storage f<span class=\"_ _7\"/>ees relate. Handling and other ser<span class=\"_ _5\"/>vices are generally inv<span class=\"_ _7\"/>oiced af<span class=\"_ _7\"/>ter<span class=\"_ _5\"/>wards, based  on the actual usage. In<span class=\"_ _7\"/>voices are generally paid b<span class=\"_ _7\"/>y customers at relatively short notice in agreement with the payment terms of the contracts. Within the revenue related to storage and handling services, the following categorization is made: \u2022 <span class=\"_ _19f\"> </span><span class=\"ff3 fc1\">Stor<span class=\"_ _7\"/>age services:<span class=\"ff1\"> relates to re<span class=\"_ _7\"/>venues from renting of storage capacity </span></span>\u2022 <span class=\"_ _19f\"> </span><span class=\"ff3 fc1\">Product mo<span class=\"_ _7\"/>vements:<span class=\"ff1\"> re<span class=\"_ _7\"/>venues related to product mo<span class=\"_ _7\"/>vements </span></span>\u2022 <span class=\"_ _19f\"> </span><span class=\"ff3 fc1\">Stor<span class=\"_ _7\"/>age and handling r<span class=\"_ _3\"/>elated services:<span class=\"ff1\"> relates to rev<span class=\"_ _7\"/>enues for storage and handling </span></span>related ser<span class=\"_ _5\"/>vices, suc<span class=\"_ _3\"/>h as blending<span class=\"_ _5\"/>, homogenization, temperature control. \u2022 <span class=\"_ _19f\"> </span><span class=\"ff3 fc1 ws3\">Other services:<span class=\"ff1\"> primarily relates to the agency ser<span class=\"_ _5\"/>vices that <span class=\"_ _3\"/>V<span class=\"_ _3\"/>opak provided to customers via </span></span>V<span class=\"_ _3\"/>opak A<span class=\"_ _3\"/>gencies up till the divestment of the <span class=\"_ _3\"/>V<span class=\"_ _3\"/>opak A<span class=\"_ _7\"/>gencies business in December 2022. The Group does not mak<span class=\"_ _7\"/>e any significant judgments with regards to re<span class=\"_ _7\"/>venue recognition, among others due to the nature of the business. Revenues The table below pro<span class=\"_ _7\"/>vides an ov<span class=\"_ _7\"/>er<span class=\"_ _5\"/>view of the re<span class=\"_ _7\"/>venue per type of ser<span class=\"_ _5\"/>vice that the Group provides to its customers. In EUR millions <span class=\"_ _12a\"> </span>2022 <span class=\"_ _7f\"> </span>2021 Storage ser<span class=\"_ _5\"/>vices <span class=\"_ _23f\"> </span>1,089.0 <span class=\"_ _e6\"> </span>986.5 Product mo<span class=\"_ _7\"/>vements <span class=\"_ _127\"> </span>1<span class=\"_ _3\"/>04.0 <span class=\"_ _46\"> </span><span class=\"ls8b ws15b\">101<span class=\"_ _7\"/>.<span class=\"_ _4\"/>8<span class=\"_ _5\"/> </span>Storage and handling related ser<span class=\"_ _5\"/>vices <span class=\"_ _1c8\"> </span>127<span class=\"_ _d\"/>.2 <span class=\"_ _45\"> </span>93.7 Other ser<span class=\"_ _5\"/>vices <span class=\"_ _240\"> </span>46.8 <span class=\"_ _45\"> </span>45.9 Revenues <span class=\"_ _224\"> </span><span class=\"fc0\">1,367<span class=\"_ _8\"/>.0 <span class=\"_ _15a\"> </span><span class=\"fcb\">1,227<span class=\"_ _8\"/>.9 </span></span>The table below pro<span class=\"_ _7\"/>vides an ov<span class=\"_ _7\"/>er<span class=\"_ _5\"/>view of the re<span class=\"_ _7\"/>venues per product type per report<span class=\"_ _5\"/>able segment (product-mark<span class=\"_ _7\"/>et combinations). Amer<span class=\"_ _7\"/>icas <span class=\"_ _bc\"> </span>Asia &amp; Middle East <span class=\"_ _8f\"> </span>China &amp; North <span class=\"_ _3\"/>Asia <span class=\"_ _27\"> </span><span class=\"ws42\">Europe <span class=\"_ _5\"/>&amp; Africa <span class=\"_ _49\"> </span></span>Other <span class=\"_ _3d\"> </span>T<span class=\"_ _9\"/>otal In EUR millions <span class=\"_ _22d\"> </span>2022 <span class=\"_ _38\"> </span><span class=\"fc7\">2021 <span class=\"_ _38\"> </span></span>2022 <span class=\"_ _155\"> </span><span class=\"fc7\">2021 <span class=\"_ _38\"> </span></span>2022 <span class=\"_ _38\"> </span><span class=\"fc7\">2021 <span class=\"_ _38\"> </span></span>2022 <span class=\"_ _155\"> </span><span class=\"fc7\">2021 <span class=\"_ _38\"> </span></span>2022 <span class=\"_ _38\"> </span><span class=\"fc7\">2021 <span class=\"_ _155\"> </span></span>2022 <span class=\"_ _38\"> </span>2021 Chemical products <span class=\"_ _57\"> </span>1<span class=\"_ _7\"/>90.1 <span class=\"_ _155\"> </span>1<span class=\"_ _3\"/>44.0 <span class=\"_ _39\"> </span>1<span class=\"_ _3\"/>47<span class=\"_ _1\"/>.6 <span class=\"_ _aa\"> </span>1<span class=\"_ _9\"/>1<span class=\"_ _7\"/>5.3 <span class=\"_ _bd\"> </span>50.8 <span class=\"_ _19a\"> </span>43.7 <span class=\"_ _155\"> </span>21<span class=\"_ _7\"/>5.8 <span class=\"_ _22c\"> </span>192.0 <span class=\"_ _4d\"> </span>\u2013 <span class=\"_ _4d\"> </span>\u2013 <span class=\"_ _22c\"> </span>604.3 <span class=\"_ _ad\"> </span>495.0 Oil products <span class=\"_ _241\"> </span>1<span class=\"_ _7\"/>39.3 <span class=\"_ _22c\"> </span>136.5 <span class=\"_ _3a\"> </span>1<span class=\"_ _3\"/>67<span class=\"_ _1\"/>.9 <span class=\"_ _155\"> </span>1<span class=\"_ _7\"/>48.5 <span class=\"_ _c9\"> </span>0.4 <span class=\"_ _95\"> </span>1<span class=\"_ _8\"/>.0 <span class=\"_ _ad\"> </span>249.7 <span class=\"_ _22c\"> </span>259.4 <span class=\"_ _4d\"> </span>\u2013 <span class=\"_ _228\"> </span>\u2013 <span class=\"_ _aa\"> </span>557<span class=\"_ _8\"/>.3 <span class=\"_ _ad\"> </span>545.4 V<span class=\"_ _3\"/>egoils and biofuels <span class=\"_ _57\"> </span>48.0 <span class=\"_ _bd\"> </span>38.0 <span class=\"_ _d9\"> </span>1<span class=\"_ _9\"/>.1 <span class=\"_ _1b1\"> </span>2.0 <span class=\"_ _140\"> </span>0.3 <span class=\"_ _4d\"> </span>\u2013 <span class=\"_ _c2\"> </span>71<span class=\"_ _9\"/>.2 <span class=\"_ _c2\"> </span>61<span class=\"_ _8\"/>.8 <span class=\"_ _228\"> </span>\u2013 <span class=\"_ _228\"> </span>\u2013 <span class=\"_ _155\"> </span>1<span class=\"_ _3\"/>20.6 <span class=\"_ _39\"> </span><span class=\"ls8b ws15b\">101<span class=\"_ _7\"/>.<span class=\"_ _5\"/>8<span class=\"_ _4\"/> </span>Gas products <span class=\"_ _10e\"> </span>\u2013 <span class=\"_ _4d\"> </span>\u2013 <span class=\"_ _140\"> </span>3.0 <span class=\"_ _c9\"> </span>5.6 <span class=\"_ _228\"> </span>\u2013 <span class=\"_ _4d\"> </span>\u2013 <span class=\"_ _bd\"> </span>38.8 <span class=\"_ _bd\"> </span>35.8 <span class=\"_ _4d\"> </span>\u2013 <span class=\"_ _228\"> </span>\u2013 <span class=\"_ _c2\"> </span>41<span class=\"_ _9\"/>.8 <span class=\"_ _c2\"> </span>41<span class=\"_ _8\"/>.4 Others <span class=\"_ _242\"> </span>9.6 <span class=\"_ _c9\"> </span>8.1 <span class=\"_ _c9\"> </span>9.1 <span class=\"_ _22b\"> </span>1<span class=\"_ _7\"/>2.8 <span class=\"_ _228\"> </span>\u2013 <span class=\"_ _228\"> </span>\u2013 <span class=\"_ _fb\"> </span>1<span class=\"_ _3\"/>7<span class=\"_ _1\"/>.9 <span class=\"_ _fb\"> </span>1<span class=\"_ _7\"/>7<span class=\"_ _1\"/>.0 <span class=\"_ _c9\"> </span>6.4 <span class=\"_ _140\"> </span>6.4 <span class=\"_ _19a\"> </span>43.0 <span class=\"_ _bd\"> </span>44.3 Revenues <span class=\"_ _1ef\"> </span><span class=\"fc0\">387<span class=\"_ _8\"/>.0 <span class=\"_ _1a2\"> </span><span class=\"fcb\">326.6 <span class=\"_ _1a2\"> </span></span>328.7 <span class=\"_ _1a2\"> </span><span class=\"fcb\">284.2 <span class=\"_ _a8\"> </span></span>51<span class=\"_ _7\"/>.5 <span class=\"_ _76\"> </span><span class=\"fcb\">44.7 <span class=\"_ _1a2\"> </span></span>593.4 <span class=\"_ _26\"> </span><span class=\"fcb\">566.0 <span class=\"_ _ea\"> </span></span>6.4 <span class=\"_ _ea\"> </span><span class=\"fcb\">6.4 <span class=\"_ _116\"> </span></span>1,367<span class=\"_ _8\"/>.0 <span class=\"_ _8f\"> </span><span class=\"fcb\">1,227<span class=\"_ _8\"/>.9 </span></span>1 <span class=\"_ _b3\"> </span>New Energy &amp; LNG division only consists of f<span class=\"_ _7\"/>our joint ventures, theref<span class=\"_ _7\"/>or no revenue. The table below pro<span class=\"_ _7\"/>vides an ov<span class=\"_ _7\"/>er<span class=\"_ _5\"/>view of the assets and liabilities recogniz<span class=\"_ _7\"/>ed in relation to contracts with customers and their mov<span class=\"_ _7\"/>ements during the periods presented. 2022 <span class=\"_ _43\"> </span>2021 T<span class=\"_ _8\"/>rade   <span class=\"ws3\"> </span>Pro<span class=\"_ _7\"/>vision for Def<span class=\"_ _7\"/>err<span class=\"_ _3\"/>ed T<span class=\"_ _8\"/>rade   <span class=\"ws3\"> </span>Pro<span class=\"_ _7\"/>vision for Def<span class=\"_ _7\"/>err<span class=\"_ _3\"/>ed In EUR millions receiv<span class=\"_ _3\"/>ables impair<span class=\"_ _7\"/>ment rev<span class=\"_ _7\"/>enues <span class=\"_ _18a\"> </span>T<span class=\"_ _8\"/>otal receiv<span class=\"_ _3\"/>ables impair<span class=\"_ _7\"/>ment rev<span class=\"_ _7\"/>enues <span class=\"_ _18a\"> </span>T<span class=\"_ _8\"/>otal Balance at 1 January <span class=\"_ _243\"> </span><span class=\"fc0 lsde ws15c\">111<span class=\"_ _5\"/>.<span class=\"_ _4\"/>2<span class=\"_ _4\"/> <span class=\"_ _51\"> </span></span>- 5.0 <span class=\"_ _c7\"> </span>- 32.0 <span class=\"_ _83\"> </span>7<span class=\"_ _3\"/>4.2 <span class=\"_ _131\"> </span><span class=\"fcb\">1<span class=\"_ _7\"/>03.9 <span class=\"_ _49\"> </span>- 2.4 <span class=\"_ _190\"> </span>- 18.6 <span class=\"_ _51\"> </span>82.9 </span>Recogniz<span class=\"_ _7\"/>ed as revenue in cur<span class=\"_ _7\"/>rent period <span class=\"_ _202\"> </span>1,335.0 <span class=\"_ _130\"> </span>\u2013 <span class=\"_ _45\"> </span>32.0 <span class=\"_ _f9\"> </span>1,367<span class=\"_ _d\"/>.0 <span class=\"_ _4d\"> </span>1,209.3 <span class=\"_ _130\"> </span>\u2013 <span class=\"_ _189\"> </span>18.6 <span class=\"_ _30\"> </span>1,227<span class=\"_ _1\"/>.9 Pa<span class=\"_ _7\"/>yments <span class=\"_ _12a\"> </span>- 1,320.2 <span class=\"_ _130\"> </span>\u2013 <span class=\"_ _18a\"> </span>- 24.0 <span class=\"_ _bc\"> </span>- 1,344.2 <span class=\"_ _bc\"> </span>- 1,206.1 <span class=\"_ _130\"> </span>\u2013 <span class=\"_ _18a\"> </span>- 32.0 <span class=\"_ _bc\"> </span>- 1,238.1 Impairments <span class=\"_ _21b\"> </span>\u2013 <span class=\"_ _45\"> </span>- 0.5 <span class=\"_ _130\"> </span>\u2013 <span class=\"_ _45\"> </span>- 0.5 <span class=\"_ _183\"> </span>\u2013 <span class=\"_ _45\"> </span>- 4.5 <span class=\"_ _130\"> </span>\u2013 <span class=\"_ _45\"> </span>- 4.5 Re<span class=\"_ _7\"/>versal of impairments <span class=\"_ _244\"> </span>\u2013 <span class=\"_ _db\"> </span>4.8 <span class=\"_ _130\"> </span>\u2013 <span class=\"_ _db\"> </span>4.8 <span class=\"_ _130\"> </span>\u2013 <span class=\"_ _113\"> </span>1<span class=\"_ _9\"/>.8 <span class=\"_ _130\"> </span>\u2013 <span class=\"_ _113\"> </span>1<span class=\"_ _9\"/>.8 Exc<span class=\"_ _3\"/>hange diff<span class=\"_ _3\"/>erences <span class=\"_ _22d\"> </span>3.2 <span class=\"_ _45\"> </span>- 0.3 <span class=\"_ _130\"> </span>\u2013 <span class=\"_ _db\"> </span>2.9 <span class=\"_ _db\"> </span>4.1 <span class=\"_ _db\"> </span>0.1 <span class=\"_ _130\"> </span>\u2013 <span class=\"_ _db\"> </span>4.2 Balance at 31 December <span class=\"_ _245\"> </span>129.2 <span class=\"_ _51\"> </span>- 1<span class=\"_ _7\"/>.0 <span class=\"_ _190\"> </span>- 24.0 <span class=\"_ _131\"> </span>1<span class=\"_ _3\"/>04.2 <span class=\"_ _7e\"> </span><span class=\"fcb lsde ws15c\">111<span class=\"_ _5\"/>.<span class=\"_ _21\"/>2<span class=\"_ _4\"/> <span class=\"_ _49\"> </span></span><span class=\"fcb\">- 5.0 <span class=\"_ _190\"> </span>- 32.0 <span class=\"_ _83\"> </span>7<span class=\"_ _3\"/>4.2 </span>Note 2.4 Other oper<span class=\"_ _3\"/>ating income  A<span class=\"_ _1e\"> </span><span class=\"ff3 fs9\">Accounting policies </span>Gains on the sale of assets and the divestment of interests in other entities are deemed realized at the time the benefits and the risks of the assets are entirely borne b<span class=\"_ _7\"/>y the buy<span class=\"_ _7\"/>er and there is no uncertaint<span class=\"_ _5\"/>y as to whether the agreed payment will be receiv<span class=\"_ _7\"/>ed. Gains on the sale of subsidiaries, joint vent<span class=\"_ _7\"/>ures and associates are realized at the time control respectiv<span class=\"_ _7\"/>ely joint control or significant influence is no longer ex<span class=\"_ _7\"/>ercised. Dividend income is recognized when the right to receiv<span class=\"_ _7\"/>e payment is established. All dividend income is related to dividends from equity investments held at F<span class=\"_ _7\"/>air value through Other Comprehensive Income (FV<span class=\"_ _3\"/>OCI). Ref<span class=\"_ _3\"/>erence is also made to note 9.6. Other operating income In EUR millions <span class=\"_ _12a\"> </span>2022 <span class=\"_ _7f\"> </span>2021Management f<span class=\"_ _7\"/>ee joint ventures and associates <span class=\"_ _62\"> </span>16.7 <span class=\"_ _45\"> </span>13.9 Gains on sale of property<span class=\"_ _3\"/>, plant and equipment <span class=\"_ _92\"> </span>0.3 <span class=\"_ _8b\"> </span>1<span class=\"_ _9\"/>.3 Gains on divestments <span class=\"_ _21d\"> </span>25.0 <span class=\"_ _130\"> </span>\u2013 Dividends received from other financial assets <span class=\"_ _246\"> </span>3.0 <span class=\"_ _db\"> </span>0.5 Other <span class=\"_ _df\"> </span>18.9 <span class=\"_ _45\"> </span>25.4 T<span class=\"_ _8\"/>otal <span class=\"_ _247\"> </span><span class=\"fc0\">63.9 <span class=\"_ _b1\"> </span></span>41.1 2022 Divestment Canadian t<span class=\"_ _7\"/>er<span class=\"_ _7\"/>minals <span class=\"ff1\"> </span>In May 2022, <span class=\"_ _9\"/>V<span class=\"_ _3\"/>opak completed the earlier announced divestment of <span class=\"_ _9\"/>V<span class=\"_ _3\"/>opak\u2019<span class=\"_ _9\"/>s 1<span class=\"_ _3\"/>0<span class=\"_ _5\"/>0% shareholding in <span class=\"_ _3\"/>V<span class=\"_ _9\"/>opak <span class=\"_ _9\"/>T<span class=\"_ _9\"/>erminals of Canada Inc. and <span class=\"_ _3\"/>V<span class=\"_ _3\"/>opak <span class=\"_ _8\"/>T<span class=\"_ _9\"/>erminals of Eastern Canada Inc. <span class=\"_ _9\"/>The total agreed transaction value including def<span class=\"_ _3\"/>erred consideration amounted to EUR 1<span class=\"_ _3\"/>29 million. The sale generated net cash proceeds of EUR 64.7 million in 2022. In Ma<span class=\"_ _7\"/>y 2023, the remaining consideration of EUR 62 million is expected to be receiv<span class=\"_ _7\"/>ed. <span class=\"_ _9\"/>T<span class=\"_ _7\"/>he recognized ex<span class=\"_ _7\"/>ceptional gain reported was EUR 8.5 million. Divestment <span class=\"_ _8\"/><span class=\"ws4a\">V<span class=\"_ _9\"/>opak Agencies <span class=\"_ _5\"/><span class=\"ff1 ws3\"> </span></span>In December 2022, <span class=\"_ _3\"/>V<span class=\"_ _9\"/>opak completed the divestment of <span class=\"_ _3\"/>V<span class=\"_ _3\"/>opak\u2019<span class=\"_ _9\"/>s 1<span class=\"_ _3\"/>0<span class=\"_ _5\"/>0% shareholding in V<span class=\"_ _3\"/>opak A<span class=\"_ _3\"/>gencies B.V<span class=\"_ _8\"/>. and 50% of its shareholding in Diize B<span class=\"_ _7\"/>.V<span class=\"_ _9\"/>. <span class=\"_ _8\"/>The net cash proceeds of  EUR 1<span class=\"_ _3\"/>6.4 million were received upon e<span class=\"_ _7\"/>xecution of div<span class=\"_ _7\"/>estment transaction. <span class=\"_ _9\"/>The recogniz<span class=\"_ _7\"/>ed ex<span class=\"_ _7\"/>ceptional gain was EUR 1<span class=\"_ _8\"/>1<span class=\"_ _8\"/>.3 million. P<span class=\"_ _7\"/>artial dilution in <span class=\"_ _1\"/>Thai<span class=\"ws143\"> T<span class=\"_ _8\"/>ank T<span class=\"_ _8\"/>er<span class=\"_ _7\"/>minal <span class=\"_ _a\"> </span><span class=\"ff1 ws3\"> </span></span>In December 2022, an ex<span class=\"_ _7\"/>ceptional gain of EUR 5.2 million was recorded related to the dilution of <span class=\"_ _3\"/>V<span class=\"_ _9\"/>opak\u2019<span class=\"_ _3\"/>s 1<span class=\"_ _7\"/>4% equity st<span class=\"_ _5\"/>ake in <span class=\"_ _8\"/>Thai <span class=\"_ _8\"/>T<span class=\"_ _9\"/>ank <span class=\"_ _9\"/>T<span class=\"_ _9\"/>erminal Ltd. located in <span class=\"_ _9\"/>T<span class=\"_ _7\"/>hailand. Af<span class=\"_ _3\"/>ter the dilution, V<span class=\"_ _3\"/>opak holds an equity st<span class=\"_ _5\"/>ake of 35% whic<span class=\"_ _3\"/>h continues to be classified as a joint vent<span class=\"_ _7\"/>ure.  There w<span class=\"_ _7\"/>ere no other individually material items recognized in Other operating income in 2022. 2021 There w<span class=\"_ _7\"/>ere no individually material items recognized in Other operating income in 2021<span class=\"_ _1\"/>.  Note 2.5 P<span class=\"_ _3\"/>ersonnel expenses  A<span class=\"_ _1e\"> </span><span class=\"ff3 fs9\">Accounting policies </span>Short-term employ<span class=\"_ _7\"/>ee benefits: wages, salaries, social security contributions, annual leav<span class=\"_ _7\"/>e and sic<span class=\"_ _3\"/>kness absenteeism, incentives and non-monetar<span class=\"_ _5\"/>y benefits are recognized in the year in whic<span class=\"_ _3\"/>h the related ser<span class=\"_ _5\"/>vices are rendered by employ<span class=\"_ _7\"/>ees. T<span class=\"_ _9\"/>ermination benefits are pa<span class=\"_ _7\"/>yable when employment is terminated b<span class=\"_ _3\"/>y the Group before the normal retirement date, or whenev<span class=\"_ _7\"/>er an employ<span class=\"_ _7\"/>ee accepts voluntar<span class=\"_ _5\"/>y redundancy in ex<span class=\"_ _7\"/>c<span class=\"_ _3\"/>hange for these benefits. <span class=\"_ _9\"/>T<span class=\"_ _7\"/>he Group recognizes termination benefits at the earlier of the follo<span class=\"_ _7\"/>wing dates: (a) when the Group can no longer withdraw the of<span class=\"_ _3\"/>f<span class=\"_ _7\"/>er of those benefits; and (b) when the Group recognizes a restr<span class=\"_ _7\"/>ucturing pro<span class=\"_ _3\"/>vision that involv<span class=\"_ _7\"/>es the payment of termination benefits. The Group recogniz<span class=\"_ _7\"/>es a provision f<span class=\"_ _7\"/>or incentive plans where contract<span class=\"_ _7\"/>ually obliged or where there is a past practice that has created a constructiv<span class=\"_ _7\"/>e obligation. F<span class=\"_ _7\"/>or the accounting policies related to share-based compensation, other types of remuneration and pensions and other employ<span class=\"_ _7\"/>ee benefits ref<span class=\"_ _7\"/>erence is made to note 7<span class=\"_ _d\"/>.2 and note 9.4. Capitalized personnel expenses: costs of emplo<span class=\"_ _7\"/>yee benefits arising directly from the construction of Intangible assets or Property<span class=\"_ _9\"/>, plant and equipment and which meet the recognition criteria, are capitalized as part of the cost of the asset concerned. P<span class=\"_ _3\"/>ersonnel expenses In EUR millions <span class=\"_ _206\"> </span>Note <span class=\"_ _76\"> </span>2022 <span class=\"_ _76\"> </span>2021W<span class=\"_ _7\"/>ages and salaries <span class=\"_ _248\"> </span>308.5 <span class=\"_ _3a\"> </span>300.1 Social security charges <span class=\"_ _35\"> </span>39.4 <span class=\"_ _c3\"> </span>36.4 Contribution to pension sc<span class=\"_ _7\"/>hemes (defined contribution) <span class=\"_ _249\"> </span>35.5 <span class=\"_ _d2\"> </span>31<span class=\"_ _9\"/>.8 P<span class=\"_ _3\"/>ension charges (defined benefit plans) <span class=\"_ _24a\"> </span><span class=\"ff3 fc13\">9.4 <span class=\"_ _11e\"> </span></span>7<span class=\"_ _1\"/>.6 <span class=\"_ _115\"> </span>7<span class=\"_ _1\"/>.4 Long-term incentiv<span class=\"_ _7\"/>e plans <span class=\"_ _64\"> </span>7<span class=\"_ _8\"/>.2 <span class=\"_ _d0\"> </span><span class=\"ff1 fc1\">4.0 <span class=\"_ _159\"> </span>8.5 </span>Early retirement <span class=\"_ _24b\"> </span>6.2 <span class=\"_ _159\"> </span>4.7 Other personnel expenses <span class=\"_ _11c\"> </span>23.0 <span class=\"_ _c3\"> </span>20.5 Capitalized personnel expenses <span class=\"_ _24c\"> </span>- 59.3 <span class=\"_ _3a\"> </span>- 66.7 T<span class=\"_ _8\"/>otal <span class=\"_ _24d\"> </span><span class=\"fc0\">364.9 <span class=\"_ _155\"> </span></span>342.7 There w<span class=\"_ _7\"/>ere no individually material items recognized in P<span class=\"_ _3\"/>ersonnel expenses in 2021 nor in 2022. F<span class=\"_ _7\"/>or the impact of the c<span class=\"_ _3\"/>hange in board composition, reference is made to the Remuneration report. A<span class=\"_ _3\"/>ver<span class=\"_ _7\"/>age number of emplo<span class=\"_ _7\"/>yees (in FTEs) During the year under re<span class=\"_ _7\"/>view<span class=\"_ _9\"/>, the Group employed on a<span class=\"_ _3\"/>verage 4,061 employ<span class=\"_ _7\"/>ees and temporar<span class=\"_ _5\"/>y staff (in FTEs) (2021: 4,250). <span class=\"_ _8\"/>The mo<span class=\"_ _7\"/>vements in the number of o<span class=\"_ _7\"/>wn employ<span class=\"_ _7\"/>ees at subsidiaries (in FTEs) were as f<span class=\"_ _7\"/>ollows: In FTEs <span class=\"_ _122\"> </span>2022 <span class=\"_ _1b2\"> </span>2021 Number at 1 January <span class=\"_ _21d\"> </span>3,730 <span class=\"_ _53\"> </span>3,713 Joiners <span class=\"_ _24e\"> </span>572 <span class=\"_ _3f\"> </span>475 Lea<span class=\"_ _7\"/>vers <span class=\"_ _24f\"> </span>- 554 <span class=\"_ _46\"> </span>- 458 Divestment/deconsolidation <span class=\"_ _250\"> </span>- 27<span class=\"_ _3\"/>6 <span class=\"_ _130\"> </span>\u2013 Number at 31 December <span class=\"_ _24c\"> </span><span class=\"fc0\">3,472 <span class=\"_ _53\"> </span></span>3,730 Note 2.6 Other oper<span class=\"_ _3\"/>ating expenses  A<span class=\"_ _1e\"> </span><span class=\"ff3 fs9\">Accounting policies </span>Operating expenses are recogniz<span class=\"_ _7\"/>ed in the income statement when incurred, e.g<span class=\"_ _5\"/>. when ser<span class=\"_ _5\"/>vices are received or goods are consumed. In addition, operating e<span class=\"_ _7\"/>xpenses can result from a decrease in future economic benefits related to a decrease of an asset or an increase of a liability that has arisen and whic<span class=\"_ _7\"/>h can be measured reliably<span class=\"_ _3\"/>.   Losses on the sale of assets are presented under Other operating e<span class=\"_ _7\"/>xpenses and are recognized as soon as the<span class=\"_ _7\"/>y are foreseen. Costs relating to the identification and selection phases of business dev<span class=\"_ _7\"/>elopment projects are recognized in the statement of income in the year in whic<span class=\"_ _3\"/>h the costs are incurred. Other operating expenses In EUR millions <span class=\"_ _12a\"> </span>2022 <span class=\"_ _7f\"> </span>2021Maintenance <span class=\"_ _251\"> </span>54.8 <span class=\"_ _45\"> </span>54.1 Energy and utilities <span class=\"_ _241\"> </span>86.9 <span class=\"_ _45\"> </span>49.2 Environmental, saf<span class=\"_ _7\"/>ety and cleaning <span class=\"_ _d7\"> </span>49.2 <span class=\"_ _108\"> </span>37<span class=\"_ _1\"/>.9 Advisory fees <span class=\"_ _252\"> </span>22.2 <span class=\"_ _45\"> </span>23.8 Insurance <span class=\"_ _253\"> </span>1<span class=\"_ _7\"/>9.3 <span class=\"_ _189\"> </span>1<span class=\"_ _7\"/>4.2 Rents and rates <span class=\"_ _10e\"> </span>25.4 <span class=\"_ _45\"> </span>22.2 Third party logistics <span class=\"_ _254\"> </span>1<span class=\"_ _3\"/>0.5 <span class=\"_ _189\"> </span>12.2 IT <span class=\"_ _255\"> </span><span class=\"ls6 ws3\">29.0 <span class=\"_ _45\"> </span>33.8 </span>Lease e<span class=\"_ _7\"/>xpenses - variable expenses, short and lo<span class=\"_ _7\"/>w value leases <span class=\"_ _198\"> </span>4.0 <span class=\"_ _1bc\"> </span>5.7 Other <span class=\"_ _df\"> </span>54.2 <span class=\"_ _45\"> </span>33.0 T<span class=\"_ _8\"/>otal <span class=\"_ _141\"> </span><span class=\"fc0\">355.5 <span class=\"_ _190\"> </span></span>286.1 2022 Divestment CRL t<span class=\"_ _7\"/>er<span class=\"_ _7\"/>minal in India <span class=\"ff1\"> </span>In May 2022, as a result of the loss of control of <span class=\"_ _9\"/>V<span class=\"_ _3\"/>opak\u2019<span class=\"_ _9\"/>s CRL terminal in Kandla, India, an ex<span class=\"_ _7\"/>ceptional divestment loss of EUR 6.0 million w<span class=\"_ _7\"/>as recorded in the line item Other<span class=\"_ _3\"/>. <span class=\"_ _9\"/>T<span class=\"_ _7\"/>he purc<span class=\"_ _3\"/>hase consideration including deferred and contingent components amounted to approximately EUR 39.3 million, with net cash proceeds in the first half of 2022 of EUR 23.9 million. <span class=\"_ _9\"/>T<span class=\"_ _7\"/>he def<span class=\"_ _7\"/>erred and contingent components are expected to be received in 2025.  Business development expenses <span class=\"ff1\"> </span>Business dev<span class=\"_ _7\"/>elopment expenses f<span class=\"_ _7\"/>or an amount of EUR 1<span class=\"_ _8\"/>.0 million related to an opportunity whic<span class=\"_ _3\"/>h was assessed as unlikely to be realiz<span class=\"_ _7\"/>ed and hav<span class=\"_ _7\"/>e been recorded as an Other ex<span class=\"_ _7\"/>ceptional expense. There w<span class=\"_ _7\"/>ere no other individually material items recognized in Other operating expenses in 2022. 2021 Divestmen<span class=\"ws3\">t Jubail Chemicals St<span class=\"_ _7\"/>orag<span class=\"_ _7\"/>e and Services Compan<span class=\"_ _7\"/>y<span class=\"_ _5\"/> <span class=\"_ _7\"/><span class=\"ff1 ls6\"> </span></span>In the fourth quarter of 2021 an e<span class=\"_ _7\"/>xceptional loss of EUR 0.7 million w<span class=\"_ _7\"/>as recorded related to a partial divestment of a 3% equity stake in the terminal Jubail Chemicals Storage and Services<span class=\"_ _5\"/> Company (JCSSC) located in Saudi <span class=\"_ _7\"/>Arabia. Af<span class=\"_ _3\"/>ter divestment <span class=\"_ _9\"/>V<span class=\"_ _3\"/>opak holds a 22% equity<span class=\"_ _5\"/> stake in this associate.   There w<span class=\"_ _7\"/>ere no other individually material items recognized in Other operating e<span class=\"_ _7\"/>xpenses in 2021<span class=\"_ _8\"/>.<span class=\"_ _5\"/> Note 2.7 Result of joint v<span class=\"_ _3\"/>entur<span class=\"_ _7\"/>es and associates A<span class=\"_ _1e\"> </span><span class=\"ff3 fs9\">Accounting policies </span>Joint v<span class=\"_ _7\"/>entures and associates are accounted f<span class=\"_ _7\"/>or using the equity method. For the accounting policies relating to joint vent<span class=\"_ _7\"/>ures and associates, ref<span class=\"_ _7\"/>erence is made to note 3.5. Result of joint vent<span class=\"_ _7\"/>ur<span class=\"_ _7\"/>es and associates In EUR millions <span class=\"_ _206\"> </span>Note <span class=\"_ _76\"> </span>2022 <span class=\"_ _76\"> </span>2021Result of joint v<span class=\"_ _7\"/>entures and associates <span class=\"_ _92\"> </span><span class=\"ff3 fc13\">3.5 <span class=\"_ _bd\"> </span></span>1<span class=\"_ _7\"/>94.7 <span class=\"_ _39\"> </span>215.8 Impairments joint vent<span class=\"_ _7\"/>ures and associates <span class=\"_ _2c\"> </span>3.5,<span class=\"_ _7\"/> 3.8 <span class=\"_ _bd\"> </span><span class=\"ff1 fc1\">- 36.2 <span class=\"_ _3a\"> </span>- 43.5 </span>Re<span class=\"_ _7\"/>versal of impairments joint vent<span class=\"_ _7\"/>ures and associates <span class=\"_ _86\"> </span>3.5,<span class=\"_ _7\"/> 3.8 <span class=\"_ _d0\"> </span><span class=\"ff1 fc1\">3.8 <span class=\"_ _55\"> </span>\u2013 </span>T<span class=\"_ _8\"/>otal <span class=\"_ _24d\"> </span><span class=\"fc0\">162.3 <span class=\"_ _38\"> </span></span>1<span class=\"_ _7\"/>72.3 Joint v<span class=\"_ _7\"/>entures are an important part of the Group. Summarized financial inf<span class=\"_ _7\"/>ormation of our joint vent<span class=\"_ _7\"/>ures and associates on an IFRS basis is presented in note 3.5.    In addition, the ef<span class=\"_ _7\"/>f<span class=\"_ _7\"/>ects of unaudited non-IFRS proportional consolidation on the statement of financial position and statement of income of the Group are presented under \u2018<span class=\"_ _1\"/>Additional information<span class=\"_ _3\"/>\u2019 accompanying this report. 2022 Exceptional gains/losses, w<span class=\"_ _7\"/>ere reported in Result of joint v<span class=\"_ _7\"/>entures and associates as f<span class=\"_ _7\"/>ollows: Impair<span class=\"_ _7\"/>ment SPEC LNG ter<span class=\"_ _3\"/>minal <span class=\"ff1\"> </span>In the second quarter an impairment was recogniz<span class=\"_ _7\"/>ed for the SPEC LNG terminal in Colombia for an amount of EUR 36.2 million. Mainly due to unusual w<span class=\"_ _7\"/>eather conditions in recent years whic<span class=\"_ _3\"/>h have brought a significant amount of rain in Colombia, h<span class=\"_ _7\"/>ydropo<span class=\"_ _7\"/>wer has been a<span class=\"_ _7\"/>vailable as the main source of pow<span class=\"_ _7\"/>er<span class=\"_ _3\"/>, whic<span class=\"_ _3\"/>h resulted in a reduced utilization of the FSRU. In addition, the tight FSRU mark<span class=\"_ _7\"/>et associated with the Russia-Ukraine w<span class=\"_ _7\"/>ar is leading to the opportunity to reduce FSRU costs becoming remote. <span class=\"_ _7\"/>As a result of the abo<span class=\"_ _7\"/>ve there is a decrease in dividend expectations Divestment Ger<span class=\"_ _3\"/>man LNG <span class=\"ff1\"> </span>As a result of <span class=\"_ _9\"/>V<span class=\"_ _3\"/>opak\u2019<span class=\"_ _9\"/>s divestment of its 33.3% shareholding in the German LNG <span class=\"_ _9\"/>T<span class=\"_ _8\"/>erminal GmbH, in the first half of 2022 an impairment rev<span class=\"_ _7\"/>ersal of EUR 3.8 million was recorded. <span class=\"_ _8\"/>This rev<span class=\"_ _7\"/>ersal partially of<span class=\"_ _7\"/>fsets the impairment of EUR 1<span class=\"_ _3\"/>0.8 million recognized in the third quarter of 2021<span class=\"_ _8\"/>. <span class=\"_ _9\"/>The proceeds receiv<span class=\"_ _3\"/>ed amounted to EUR 3.8 million. 2021 Exceptional gains/losses, w<span class=\"_ _7\"/>ere reported in Result of joint v<span class=\"_ _7\"/>entures and associates as f<span class=\"_ _7\"/>ollows: P<span class=\"_ _7\"/>artial r<span class=\"_ _3\"/>elease tax provision <span class=\"ff1\"> </span>In 2021, an ex<span class=\"_ _7\"/>ceptional gain of EUR 2.2 million was recogniz<span class=\"_ _7\"/>ed in the result of joint vent<span class=\"_ _7\"/>ures and associates relating to a partial release of a tax provision that was recogniz<span class=\"_ _7\"/>ed in a joint vent<span class=\"_ _7\"/>ure terminal within the A<span class=\"_ _7\"/>sia &amp; Middle East division at the end of 20<span class=\"_ _3\"/>1<span class=\"_ _3\"/>9. Business develop<span class=\"ws150\">ment <span class=\"_ _4\"/>costs VMH <span class=\"_\"> </span></span><span class=\"ff1\"> </span>In the fourth quarter of 2021, an e<span class=\"_ _7\"/>xceptional loss of EUR 4.8 million w<span class=\"_ _7\"/>as recognized in the Moda Houston terminal (VMH) for business de<span class=\"_ _7\"/>velopment costs. <span class=\"_ _8\"/>This impairment is the result of a strategic revie<span class=\"_ _7\"/>w af<span class=\"_ _3\"/>ter which it w<span class=\"_ _7\"/>as concluded that <span class=\"_ _3\"/>VMH will focus on ammonia and gas projects going for<span class=\"_ _5\"/>ward leading to a write-of<span class=\"_ _3\"/>f of certain business development projects. F<span class=\"_ _7\"/>or impairments recorded for our joint v<span class=\"_ _7\"/>entures and associates, ref<span class=\"_ _3\"/>erence is made to note 3.8 for further details. Note 2.8 <span class=\"_ _d\"/>T<span class=\"_ _d\"/>ranslation and operational cur<span class=\"_ _3\"/>r<span class=\"_ _7\"/>ency r<span class=\"_ _7\"/>isk The Group is e<span class=\"_ _7\"/>xposed to a low le<span class=\"_ _7\"/>vel of currency risk on the transaction le<span class=\"_ _7\"/>vel, since operating income and operating expenses are, as a r<span class=\"_ _7\"/>ule, largely denominated in the same currency<span class=\"_ _9\"/>. How<span class=\"_ _7\"/>ev<span class=\"_ _7\"/>er<span class=\"_ _3\"/>, in some countries (in particular<span class=\"_ _3\"/>, in Latin America and <span class=\"_ _3\"/>Asia), a subst<span class=\"_ _5\"/>antial portion of the income flow is in US dollars, whereas the operating e<span class=\"_ _7\"/>xpenses are largely denominated in local currencies. In these countries, the aim is to hedge the transaction risk nat<span class=\"_ _7\"/>urally<span class=\"_ _3\"/>. An<span class=\"_ _7\"/>y material net transaction position can be hedged in full by means of f<span class=\"_ _7\"/>or<span class=\"_ _5\"/>ward ex<span class=\"_ _7\"/>c<span class=\"_ _3\"/>hange contracts or other derivativ<span class=\"_ _7\"/>es. The Group is, ho<span class=\"_ _7\"/>we<span class=\"_ _7\"/>ver<span class=\"_ _9\"/>, exposed to risk in connection with the translation of income statements and net assets of foreign entities into euros, since a significant portion of the Group\u2019<span class=\"_ _9\"/>s results is generated in foreign entities.  Sensitivity to ex<span class=\"_ _7\"/>chang<span class=\"_ _7\"/>e rat<span class=\"_ _3\"/>es arising fr<span class=\"_ _7\"/>om the translation of the r<span class=\"_ _3\"/>esults of for<span class=\"_ _3\"/>eign curr<span class=\"_ _3\"/>ency operations The translation risk of con<span class=\"_ _7\"/>verting the net result of f<span class=\"_ _7\"/>oreign entities into euros mainly concerns the Singapore dollar and the US dollar<span class=\"_ _3\"/>. <span class=\"_ _8\"/>The sensitivity to these currencies, based on a reasonable c<span class=\"_ _3\"/>hange in the exc<span class=\"_ _3\"/>hange rate at the reporting date, is as follo<span class=\"_ _7\"/>ws: A 1<span class=\"_ _3\"/>0 dollar cent c<span class=\"_ _3\"/>hange in the EUR/USD exc<span class=\"_ _3\"/>hange rate approximately af<span class=\"_ _3\"/>fects <span class=\"_ _9\"/>V<span class=\"_ _3\"/>opak\u2019<span class=\"_ _9\"/>s figures as follo<span class=\"_ _7\"/>ws (based on figures for 2022, e<span class=\"_ _7\"/>xcluding e<span class=\"_ _7\"/>xceptional items): \u2022 <span class=\"_ _19f\"> </span><span class=\"fc1\">Re<span class=\"_ _7\"/>venues w<span class=\"_ _7\"/>ould dif<span class=\"_ _7\"/>f<span class=\"_ _7\"/>er by EUR 30.9 million (2021: EUR 22.2 million) </span>\u2022 <span class=\"_ _19f\"> </span><span class=\"fc1\">Group operating profit before depreciation and amortization (EBI<span class=\"_ _7\"/>TD<span class=\"_ _3\"/>A) would dif<span class=\"_ _7\"/>f<span class=\"_ _7\"/>er by </span>EUR 24.0 million (2021: EUR 20.6 million) \u2022 <span class=\"_ _19f\"> </span><span class=\"fc1\">Group operating profit (EBIT) w<span class=\"_ _7\"/>ould dif<span class=\"_ _7\"/>f<span class=\"_ _7\"/>er by EUR 1<span class=\"_ _3\"/>8.2 million (2021: EUR 16.1 million) </span>\u2022 <span class=\"_ _19f\"> </span><span class=\"fc1\">Net profit would dif<span class=\"_ _3\"/>f<span class=\"_ _7\"/>er by EUR 1<span class=\"_ _3\"/>3.7 million (2021: EUR 1<span class=\"_ _7\"/>3.4 million). </span>A 1<span class=\"_ _3\"/>0 dollar cent c<span class=\"_ _3\"/>hange in the EUR/SGD exc<span class=\"_ _3\"/>hange rate approximately af<span class=\"_ _3\"/>fects <span class=\"_ _9\"/>V<span class=\"_ _3\"/>opak\u2019<span class=\"_ _9\"/>s figures as follo<span class=\"_ _7\"/>ws (based on figures for 2022 e<span class=\"_ _7\"/>xcluding e<span class=\"_ _7\"/>xceptional items): \u2022 <span class=\"_ _19f\"> </span><span class=\"fc1\">Re<span class=\"_ _7\"/>venues w<span class=\"_ _7\"/>ould dif<span class=\"_ _7\"/>f<span class=\"_ _7\"/>er by EUR 1<span class=\"_ _9\"/>7<span class=\"_ _d\"/>.5 million (2021: EUR 1<span class=\"_ _7\"/>3.8 million) </span>\u2022 <span class=\"_ _19f\"> </span><span class=\"fc1\">Group operating profit before depreciation and amortization (EBI<span class=\"_ _7\"/>TD<span class=\"_ _3\"/>A) would dif<span class=\"_ _7\"/>f<span class=\"_ _7\"/>er by </span>EUR 1<span class=\"_ _3\"/>2.7 million (2021: EUR 1<span class=\"_ _3\"/>0.9 million) \u2022 <span class=\"_ _19f\"> </span><span class=\"fc1\"> <span class=\"_ _25\"/>Group operating profit (EBIT) would dif<span class=\"_ _3\"/>f<span class=\"_ _7\"/>er by EUR 8.8 million (2021: EUR 7<span class=\"_ _2\"/>.8 million) </span>\u2022 <span class=\"_ _19f\"> </span><span class=\"fc1\">Net profit would dif<span class=\"_ _3\"/>f<span class=\"_ _7\"/>er by EUR 4.8 million (2021: EUR 4.5 million). </span>Note 2.9 Cash flo<span class=\"_ _3\"/>ws from oper<span class=\"_ _7\"/>ating activities (gross) In EUR millions <span class=\"_ _206\"> </span>Note <span class=\"_ _76\"> </span>2022 <span class=\"_ _76\"> </span>2021Net profit <span class=\"_ _256\"> </span><span class=\"fs7\">- 137<span class=\"_ _8\"/>.8 <span class=\"_ _155\"> </span>243.2 </span>Adjustments f<span class=\"_ _7\"/>or: - Depreciation and amortization <span class=\"_ _4e\"> </span><span class=\"ff3 fc13\">3.7 <span class=\"_ _19a\"> </span></span>339.9 <span class=\"_ _ce\"> </span>331<span class=\"_ _8\"/>.8 - Impairment <span class=\"_ _1d4\"> </span><span class=\"ff3 fc13\">3.8 <span class=\"_ _bd\"> </span></span>448.8 <span class=\"_ _d2\"> </span>71<span class=\"_ _9\"/>.0 - Net finance costs <span class=\"_ _257\"> </span><span class=\"ff3 fc13\">5.6 <span class=\"_ _bd\"> </span></span>120.7 <span class=\"_ _39\"> </span>1<span class=\"_ _3\"/>06.5 - Income tax <span class=\"_ _22a\"> </span><span class=\"ff3 fc13\">8.1 <span class=\"_ _fb\"> </span></span><span class=\"ls8b ws15b\">101<span class=\"_ _7\"/>.<span class=\"_ _4\"/>2<span class=\"_ _5\"/> <span class=\"_ _fb\"> </span><span class=\"ls6 ws3\">60.0 </span></span>- Mov<span class=\"_ _7\"/>ements in other non-current assets <span class=\"_ _158\"> </span>- 8.1 <span class=\"_ _fb\"> </span>- 6.3 - Mov<span class=\"_ _7\"/>ements in other long-term liabilities <span class=\"_ _1fe\"> </span>0.3 <span class=\"_ _d2\"> </span>- 1<span class=\"_ _9\"/>.8 - Mov<span class=\"_ _7\"/>ements in provisions ex<span class=\"_ _7\"/>cluding def<span class=\"_ _7\"/>erred taxes <span class=\"_ _1d6\"> </span>3.8 <span class=\"_ _fb\"> </span>- 0.4 - Result joint v<span class=\"_ _7\"/>entures and associates <span class=\"_ _42\"> </span><span class=\"ff3 fc13\">2.7 <span class=\"_ _155\"> </span></span>- 1<span class=\"_ _7\"/>62.3 <span class=\"_ _11\"> </span>- 1<span class=\"_ _3\"/>72.3 - Measurement of equity-set<span class=\"_ _7\"/>tled share-based payment arrangements <span class=\"_ _11c\"> </span><span class=\"ff3 fc13\">5.3 <span class=\"_ _a5\"> </span></span>1<span class=\"_ _9\"/>.4 <span class=\"_ _159\"> </span>6.1 - Result on sale of assets held f<span class=\"_ _7\"/>or sale including transaction expenses <span class=\"_ _110\"> </span><span class=\"ff3 fc13\">3.1 <span class=\"_ _22b\"> </span></span>- 1<span class=\"_ _7\"/>9.0 <span class=\"_ _bc\"> </span>0.7 T<span class=\"_ _8\"/>otal adjustments 826.7 <span class=\"_ _155\"> </span>395.3 Realiz<span class=\"_ _7\"/>ed value adjustments of derivativ<span class=\"_ _7\"/>e financial instruments <span class=\"_ _258\"> </span>- 25.8 <span class=\"_ _3a\"> </span>- 45.0 Mov<span class=\"_ _7\"/>ements in other current assets (ex<span class=\"_ _7\"/>cluding cash and cash equivalents) <span class=\"_ _259\"> </span>- 1<span class=\"_ _3\"/>7<span class=\"_ _1\"/>.5 <span class=\"_ _fb\"> </span>43.8 Mov<span class=\"_ _7\"/>ements in other current liabilities (ex<span class=\"_ _7\"/>cluding bank overdraf<span class=\"_ _3\"/>ts and dividends) <span class=\"_ _25a\"> </span>1<span class=\"_ _7\"/>6.9 <span class=\"_ _19a\"> </span>- 1<span class=\"_ _7\"/>7<span class=\"_ _1\"/>.8 Dividends received from joint v<span class=\"_ _7\"/>entures and associates <span class=\"_ _165\"> </span><span class=\"ff3 fc13\">3.5 <span class=\"_ _f7\"> </span></span>207<span class=\"_ _1\"/>.7 <span class=\"_ _39\"> </span>133.3 Ef<span class=\"_ _7\"/>fect of c<span class=\"_ _3\"/>hanges in ex<span class=\"_ _7\"/>change rates on other cur<span class=\"_ _7\"/>rent assets and liabilities <span class=\"_ _1ce\"> </span>1<span class=\"_ _8\"/>.9 <span class=\"_ _19a\"> </span>- 1<span class=\"_ _9\"/>1<span class=\"_ _9\"/>.6 Cash flows fr<span class=\"_ _7\"/>om operating activities (gr<span class=\"_ _7\"/>oss) <span class=\"_ _a6\"> </span><span class=\"fc0\">872.1 <span class=\"_ _aa\"> </span></span>7<span class=\"_ _7\"/>41<span class=\"_ _7\"/>.2 Realiz<span class=\"_ _7\"/>ed value adjustments of derivativ<span class=\"_ _7\"/>e financial instruments <span class=\"_ _105\"> </span>25.8 <span class=\"_ _fb\"> </span>45.0 Cash flows fr<span class=\"_ _7\"/>om operating activities (gr<span class=\"_ _7\"/>oss excluding der<span class=\"_ _3\"/>ivatives) <span class=\"_ _81\"> </span><span class=\"fc0\">897<span class=\"_ _8\"/>.9 <span class=\"_ _155\"> </span><span class=\"fcb\">786.2 </span></span>Section 3 Strategic in<span class=\"_ _7\"/>vestments and div<span class=\"_ _3\"/>estments This section presents details on the core operating assets that form the basis f<span class=\"_ _7\"/>or the activities of the <span class=\"_ _3\"/>V<span class=\"_ _9\"/>opak Group, including the main developments with regard to these assets during the financial years presented. The f<span class=\"_ _7\"/>ollowing notes are presented in this section: \u2022 <span class=\"_ _19f\"> </span><span class=\"fc1\">3.1 A<span class=\"_ _7\"/>cquisition and divestment of subsidiaries </span>\u2022 <span class=\"_ _19f\"> </span><span class=\"fc1\">3.2 Intangible assets </span>\u2022 <span class=\"_ _19f\"> </span><span class=\"fc1\">3.3 Property<span class=\"_ _3\"/>, plant and equipment - owned assets </span>\u2022 <span class=\"_ _19f\"> </span><span class=\"fc1\">3.4 Leases </span>\u2022 <span class=\"_ _19f\"> </span><span class=\"fc1\">3.5 Joint v<span class=\"_ _7\"/>entures and associates </span>\u2022 <span class=\"_ _19f\"> </span><span class=\"fc1\">3.6 A<span class=\"_ _7\"/>ssets held for sale </span>\u2022 <span class=\"_ _19f\"> </span><span class=\"fc1\">3.7 Depreciation and amortization </span>\u2022 <span class=\"_ _19f\"> </span><span class=\"fc1\">3.8 Impairment tests and impairments </span>Note 3.1 <span class=\"_ _8\"/>Acquisition and divestment of subsidiar<span class=\"_ _3\"/>ies A<span class=\"_ _1e\"> </span><span class=\"ff3 fs9\">Accounting policies </span>Business combinations Acquired businesses are recogniz<span class=\"_ _7\"/>ed in the Consolidated financial statements from the acquisition date, whic<span class=\"_ _3\"/>h is the date when the Group eff<span class=\"_ _3\"/>ectively obtains control of the acquired business. Businesses that are divested or w<span class=\"_ _7\"/>ound up are recognized in the Consolidated financial statements until the date of divestment or winding up. Comparative figures are not restated for businesses acquired, divested or w<span class=\"_ _7\"/>ound up.  When the Group obtains control of a business, the acquisition method is applied. <span class=\"_ _9\"/>The identifiable assets, liabilities and contingent liabilities are measured at fair v<span class=\"_ _7\"/>alue at the acquisition date. Identifiable intangible assets are recognized if separable or if they arise fromcontractual or other legal rights. Def<span class=\"_ _3\"/>erred tax related to fair value adjustments is also recognized. Any e<span class=\"_ _7\"/>xcess of the f<span class=\"_ _7\"/>air value of the consideration transf<span class=\"_ _3\"/>erred, the recognized amount of an<span class=\"_ _7\"/>y non-controlling interests and the fair v<span class=\"_ _7\"/>alue of any e<span class=\"_ _7\"/>xisting equity interest in the acquired entity over the f<span class=\"_ _7\"/>air value of identifiable assets, liabilities and contingent liabilities, is recognized as goodwill. <span class=\"_ _9\"/>When the ex<span class=\"_ _7\"/>cess is negative, a bargain purc<span class=\"_ _3\"/>hase gain is recognized in the statement of income at the acquisition date. If parts of the consideration are conditional upon future e<span class=\"_ _7\"/>vents (contingent consideration) or satisfaction of agreed terms, these parts are recogniz<span class=\"_ _7\"/>ed at fair v<span class=\"_ _7\"/>alue at the acquisition date. T<span class=\"_ _9\"/>ransaction costs that the Group incurs in connection with the business combination are expensed as incur<span class=\"_ _7\"/>red under Other operating expenses. Divestments Gains or losses on the divestments or winding-up of subsidiaries, joint v<span class=\"_ _7\"/>entures or associates are measured as the dif<span class=\"_ _7\"/>f<span class=\"_ _7\"/>erence between the consideration received adjusted f<span class=\"_ _7\"/>or directly related divestment or winding-up costs and the car<span class=\"_ _7\"/>r<span class=\"_ _5\"/>ying amount of the net assets at the time of disposal or winding-up including any car<span class=\"_ _7\"/>r<span class=\"_ _5\"/>ying amount of allocated goodwill.  Acquisitions and div<span class=\"_ _3\"/>estments   The table below pro<span class=\"_ _7\"/>vides an ov<span class=\"_ _7\"/>er<span class=\"_ _5\"/>view of the results realiz<span class=\"_ _7\"/>ed as either part of the Other operating income or Other operating expenses on all (step-)acquisitions and divestments completed during the y<span class=\"_ _7\"/>ears presented, including joint vent<span class=\"_ _7\"/>ures and associates. Ref<span class=\"_ _3\"/>erence is also made to note 2.4 and note 2.6. In EUR millions <span class=\"_ _12a\"> </span><span class=\"fs7 fc0\">2022 <span class=\"_ _7f\"> </span><span class=\"fc7\">2021 </span></span>Share dilution JCSSC <span class=\"_ _f1\"> </span>\u2013 <span class=\"_ _45\"> </span>- 0.7 Sale of subsidiaries Canadian terminals <span class=\"_ _25b\"> </span>8.5 <span class=\"_ _130\"> </span>\u2013 Sale of subsidiar<span class=\"_ _5\"/>y CRL terminal <span class=\"_ _d8\"> </span>- 6.0 <span class=\"_ _130\"> </span>\u2013 Sale of subsidiaries A<span class=\"_ _7\"/>gencies <span class=\"_ _25c\"> </span>1<span class=\"_ _9\"/>1<span class=\"_ _9\"/>.3 <span class=\"_ _130\"> </span>\u2013 Share <span class=\"_ _4\"> </span>dilution Thai T<span class=\"_ _3\"/>ank T<span class=\"_ _9\"/>erminal <span class=\"_ _25d\"> </span><span class=\"ws3\">5.2 <span class=\"_ _130\"> </span>\u2013 </span>T<span class=\"_ _8\"/>otal <span class=\"_ _247\"> </span><span class=\"fc0\">19.0 <span class=\"_ _49\"> </span></span>- 0.7 F<span class=\"_ _7\"/>or more information on the cash proceeds, ref<span class=\"_ _3\"/>erence is made to the Consolidated Statement of Cash Flows. The results realiz<span class=\"_ _7\"/>ed on (step-)acquisitions and divestments of subsidiaries are disclosed in the paragraph below<span class=\"_ _9\"/>. F<span class=\"_ _7\"/>or an overview of the acquisitions and divestments of joint v<span class=\"_ _3\"/>entures and associates, ref<span class=\"_ _7\"/>erence is made to note 3.5. Acquisition of subsidiar<span class=\"_ _3\"/>ies 2021 and 2022 There w<span class=\"_ _7\"/>ere no acquisitions of subsidiaries in 2021 and 2022. Divestment of subsidiar<span class=\"_ _3\"/>ies 2022 Divestment Canadian t<span class=\"_ _7\"/>er<span class=\"_ _7\"/>minals <span class=\"ff1\"> </span>In May 2022, <span class=\"_ _9\"/>V<span class=\"_ _3\"/>opak completed the earlier announced divestment of its 1<span class=\"_ _9\"/>0<span class=\"_ _5\"/>0% shareholding inV<span class=\"_ _3\"/>opak <span class=\"_ _8\"/>T<span class=\"_ _9\"/>erminals of Canada Inc. and <span class=\"_ _3\"/>V<span class=\"_ _3\"/>opak <span class=\"_ _9\"/>T<span class=\"_ _9\"/>erminals of Eastern Canada Inc. <span class=\"_ _8\"/>The total agreed transaction value including def<span class=\"_ _3\"/>erred consideration amounted to EUR 1<span class=\"_ _3\"/>29 million. <span class=\"_ _9\"/>The sale generated net cash proceeds of EUR 64.7 million in 2022. In May 2023, the remaining consideration of EUR 62 million will be received. <span class=\"_ _8\"/>The recogniz<span class=\"_ _7\"/>ed ex<span class=\"_ _7\"/>ceptional gain was EUR 8.5 million.  Divestment CRL t<span class=\"_ _7\"/>er<span class=\"_ _7\"/>minal in India <span class=\"ff1\"> </span>In May 2022, as a result of the loss of control of <span class=\"_ _9\"/>V<span class=\"_ _3\"/>opak\u2019<span class=\"_ _9\"/>s CRL terminal in Kandla, India, an ex<span class=\"_ _7\"/>ceptional  divestment loss of EUR 6.0 million w<span class=\"_ _7\"/>as recorded. <span class=\"_ _9\"/>T<span class=\"_ _7\"/>he purc<span class=\"_ _7\"/>hase consideration including def<span class=\"_ _7\"/>erred and contingent components amounted to approximately EUR 39.3 million, with net cash proceeds in the first half of 2022 of EUR 23.6 million. <span class=\"_ _9\"/>T<span class=\"_ _7\"/>he def<span class=\"_ _7\"/>erred and contingent components are expected to be receiv<span class=\"_ _7\"/>ed in 2025. Divestment V<span class=\"_ _9\"/>opak <span class=\"_ _5\"/>Ag<span class=\"_ _7\"/>e<span class=\"ws3\">ncies business <span class=\"ff1\"> </span></span>In December 2022, <span class=\"_ _3\"/>V<span class=\"_ _9\"/>opak completed 1<span class=\"_ _3\"/>0<span class=\"_ _5\"/>0% divestment of <span class=\"_ _9\"/>V<span class=\"_ _3\"/>opak\u2019<span class=\"_ _9\"/>s shareholding in Agencies B.V<span class=\"_ _1\"/>. and 50% of its shareholding in Diize B.V<span class=\"_ _1\"/>. The purc<span class=\"_ _3\"/>hase consideration amounted to EUR 1<span class=\"_ _3\"/>6.4 million was received upon e<span class=\"_ _7\"/>xecution of div<span class=\"_ _7\"/>estment transaction. <span class=\"_ _9\"/>The recogniz<span class=\"_ _7\"/>ed ex<span class=\"_ _7\"/>ceptional gain was EUR 1<span class=\"_ _8\"/>1<span class=\"_ _8\"/>.3 million. 2021 There w<span class=\"_ _7\"/>ere no divestments of subsidiaries in 2021<span class=\"_ _1\"/>. Note 3.2 Intangible assets A<span class=\"_ _1e\"> </span><span class=\"ff3 fs9\">Accounting policies </span>Intangible assets include goodwill, internally developed sof<span class=\"_ _3\"/>tware, contractual relationships, concessions and fa<span class=\"_ _7\"/>vorable leases ensuing from business combinations.  In April 2021, the IFR<span class=\"_ _7\"/>S interpretation commit<span class=\"_ _7\"/>tee published the agenda decision \u2018Configuration or customization costs in a cloud computing arrangement\u2019 whic<span class=\"_ _3\"/>h considers whether an intangible asset can be recognized in relation to configuration or customization of application sof<span class=\"_ _3\"/>t<span class=\"_ _5\"/>ware. <span class=\"_ _9\"/>V<span class=\"_ _3\"/>opak has identified sev<span class=\"_ _7\"/>eral assets that have configuration or customization costs included in the asset\u2019<span class=\"_ _9\"/>s cost base. <span class=\"_ _9\"/>The IFRIC agenda decision sets out the follo<span class=\"_ _7\"/>wing options for accounting f<span class=\"_ _7\"/>or costs incurred for customization of cloud computing arrangements that are considered to f<span class=\"_ _7\"/>ollow ser<span class=\"_ _5\"/>vice contract accounting as follo<span class=\"_ _3\"/>ws: \u2022 <span class=\"_ _19f\"> </span><span class=\"fc1\">If the ser<span class=\"_ _5\"/>vices received are distinct, the costs are recogniz<span class=\"_ _7\"/>ed as an expense when the </span>supplier configures or customizes the application sof<span class=\"_ _3\"/>tware; or \u2022 <span class=\"_ _19f\"> </span><span class=\"fc1\">If the ser<span class=\"_ _5\"/>vices are not distinct, the costs are recognized as an e<span class=\"_ _7\"/>xpense when the supplier </span>provides access to the application sof<span class=\"_ _3\"/>tware ov<span class=\"_ _7\"/>er the contract term; or \u2022 <span class=\"_ _19f\"> </span><span class=\"fc1 ws130\">When a third-party supplier<span class=\"_ _3\"/>, employees or in-house contractors configure or customiz<span class=\"_ _7\"/>e the </span>application sof<span class=\"_ _3\"/>t<span class=\"_ _5\"/>ware, costs are recogniz<span class=\"_ _7\"/>ed as an expense when incurred. \u2022 <span class=\"_ _19f\"> </span><span class=\"fc1\">In limited circumstances, cert<span class=\"_ _5\"/>ain configuration and customization activities under taken in </span>implementing cloud computing arrangements ma<span class=\"_ _7\"/>y give rise to a separate intangible asset. This ma<span class=\"_ _7\"/>y be the case if the arrangement results, for e<span class=\"_ _3\"/>xample in additional software code (for interf<span class=\"_ _7\"/>aces with other sof<span class=\"_ _3\"/>t<span class=\"_ _5\"/>ware applications) from whic<span class=\"_ _3\"/>h the Group has the pow<span class=\"_ _7\"/>er to obtain the future economic benefits and to restrict others<span class=\"_ _7\"/>\u2019 access to those benefits. <span class=\"_ _8\"/>The Group recognizes an intangible asset if the additional code is \u2018identifiable\u2019 and meets the recognition criteria for an intangible asset. Goodwill represents the dif<span class=\"_ _7\"/>f<span class=\"_ _7\"/>erence between the purc<span class=\"_ _3\"/>hase price and <span class=\"_ _3\"/>V<span class=\"_ _3\"/>opak\u2019<span class=\"_ _3\"/>s share in the fair v<span class=\"_ _7\"/>alue of the acquired identifiable assets, liabilities and contingent liabilities of the company acquired at the time <span class=\"_ _9\"/>V<span class=\"_ _3\"/>opak obtains control (acquisition method). Goodwill is carried at cost less accumulated impairments. F<span class=\"_ _7\"/>or the purpose of impairment testing, goodwill acquired in a business combination is allocated to the operating segments (divisions), whic<span class=\"_ _3\"/>h represents the lowest le<span class=\"_ _7\"/>vel within the V<span class=\"_ _3\"/>opak Group at whic<span class=\"_ _3\"/>h the goodwill is monitored for internal management purposes.  Goodwill relating to an associate or joint vent<span class=\"_ _7\"/>ure is included in the carr<span class=\"_ _5\"/>ying amount of the inv<span class=\"_ _7\"/>estment in the associate or joint vent<span class=\"_ _7\"/>ure and is not tested for impairment separately<span class=\"_ _9\"/>, but is part of the impairment testing of the inv<span class=\"_ _7\"/>estment in the  associate or joint vent<span class=\"_ _7\"/>ure. Sof<span class=\"_ _3\"/>t<span class=\"_ _5\"/>ware is carried at historical cost, net of straight-line amortization based on its e<span class=\"_ _3\"/>xpected useful lif<span class=\"_ _7\"/>e and any potential impairment. Other intangible assets are carried at their initial fair v<span class=\"_ _7\"/>alue at the time of the acquisition,   net of straight-line amortization and impairments.     <span class=\"_ _25\"/>Other items are mainly licenses that are carried at historical cost, net of   straight-line amortization.  Mov<span class=\"_ _3\"/>ements in intangible assets Under  develop-In EUR millions <span class=\"_ _25e\"> </span>Note <span class=\"_ _192\"> </span><span class=\"fs7 fc7\">Goodwill <span class=\"_ _b3\"> </span>Sof<span class=\"_ _7\"/>twar<span class=\"_ _7\"/>e <span class=\"_ _147\"> </span>Other </span>ment <span class=\"_ _17\"> </span><span class=\"fc0\">T<span class=\"_ _9\"/>otal </span>Purc<span class=\"_ _3\"/>hase price of operating assets <span class=\"_ _25f\"> </span>38.5 <span class=\"_ _22c\"> </span>130.3 <span class=\"_ _1a2\"> </span>50.5 <span class=\"_ _3a\"> </span>33.5 <span class=\"_ _17\"> </span>252.8 Accumulated amortization and impairment <span class=\"_ _6d\"> </span>\u2013 <span class=\"_ _ad\"> </span>- 85.4 <span class=\"_ _21c\"> </span>- 1<span class=\"_ _7\"/>9.8 <span class=\"_ _d0\"> </span>\u2013 <span class=\"_ _10\"> </span>- 1<span class=\"_ _3\"/>05.2 Car<span class=\"_ _7\"/>rying amount at 31 December 2020 <span class=\"_ _189\"> </span>38.5 <span class=\"_ _76\"> </span>44.9 <span class=\"_ _16\"> </span>30.7 <span class=\"_ _38\"> </span>33.5 <span class=\"_ _120\"> </span><span class=\"fc0\">147<span class=\"_ _8\"/>.6 </span>Mov<span class=\"_ _7\"/>ements: Addition <span class=\"_ _64\"> </span>\u2013 <span class=\"_ _95\"> </span>1<span class=\"_ _8\"/>.4 <span class=\"_ _159\"> </span>\u2013 <span class=\"_ _aa\"> </span>24.0 <span class=\"_ _27\"> </span>25.4 Disposal <span class=\"_ _215\"> </span>\u2013 <span class=\"_ _228\"> </span>\u2013 <span class=\"_ _ce\"> </span>0.1 <span class=\"_ _d0\"> </span>\u2013 <span class=\"_ _ce\"> </span>0.1 Reclassification to held f<span class=\"_ _7\"/>or sale/divestments <span class=\"_ _104\"> </span><span class=\"ff3 fc13\">3.6 <span class=\"_ _39\"> </span></span>- 35.1 <span class=\"_ _19a\"> </span>- 0.1 <span class=\"_ _22c\"> </span>- 1<span class=\"_ _9\"/>.3 <span class=\"_ _3a\"> </span>- 0.8 <span class=\"_ _19\"> </span>- 37<span class=\"_ _1\"/>.3 Reclassification <span class=\"_ _1c7\"> </span>\u2013 <span class=\"_ _bd\"> </span>32.5 <span class=\"_ _95\"> </span>\u2013 <span class=\"_ _b2\"> </span>- 29.4 <span class=\"_ _ce\"> </span>3.1 Amortization <span class=\"_ _195\"> </span><span class=\"ff3 fc13\">3.7 <span class=\"_ _55\"> </span></span>\u2013 <span class=\"_ _155\"> </span>- 1<span class=\"_ _3\"/>6.8 <span class=\"_ _27\"> </span>- 0.8 <span class=\"_ _d0\"> </span>\u2013 <span class=\"_ _233\"> </span>- 1<span class=\"_ _7\"/>7<span class=\"_ _1\"/>.6 Impairment <span class=\"_ _1d0\"> </span><span class=\"ff3 fc13\">3.8 <span class=\"_ _55\"> </span></span>\u2013 <span class=\"_ _bd\"> </span>- 0.3 <span class=\"_ _17\"> </span>- 15.6 <span class=\"_ _d0\"> </span>\u2013 <span class=\"_ _17\"> </span>- 1<span class=\"_ _7\"/>5.9 Exc<span class=\"_ _3\"/>hange diff<span class=\"_ _3\"/>erences <span class=\"_ _260\"> </span>2.8 <span class=\"_ _c9\"> </span>0.3 <span class=\"_ _bd\"> </span>1<span class=\"_ _9\"/>.9 <span class=\"_ _c3\"> </span>0.6 <span class=\"_ _ce\"> </span>5.6 Car<span class=\"_ _7\"/>rying amount at 31 December 2021 <span class=\"_ _81\"> </span>6.2 <span class=\"_ _ce\"> </span>61.9 <span class=\"_ _b2\"> </span>15.0 <span class=\"_ _39\"> </span>27<span class=\"_ _1\"/>.9 <span class=\"_ _1a\"> </span><span class=\"fc0 lsde ws15c\">111<span class=\"_ _5\"/>.<span class=\"_ _4\"/>0<span class=\"_ _4\"/> </span>Purc<span class=\"_ _3\"/>hase price of operating assets <span class=\"_ _1dd\"> </span>6.2 <span class=\"_ _155\"> </span>1<span class=\"_ _7\"/>64.5 <span class=\"_ _155\"> </span>47<span class=\"_ _1\"/>.8 <span class=\"_ _a8\"> </span>27<span class=\"_ _d\"/>.9 <span class=\"_ _17\"> </span>246.4 Accumulated amortization and impairment <span class=\"_ _6d\"> </span>\u2013 <span class=\"_ _19\"> </span>- 1<span class=\"_ _3\"/>02.6 <span class=\"_ _17\"> </span>- 32.8 <span class=\"_ _d0\"> </span>\u2013 <span class=\"_ _13c\"> </span>- 1<span class=\"_ _7\"/>35.4 Car<span class=\"_ _7\"/>rying amount at 31 December 2021 <span class=\"_ _81\"> </span>6.2 <span class=\"_ _ce\"> </span>61.9 <span class=\"_ _b2\"> </span>15.0 <span class=\"_ _39\"> </span>27<span class=\"_ _1\"/>.9 <span class=\"_ _1a\"> </span><span class=\"fc0 lsde ws15c\">111<span class=\"_ _5\"/>.<span class=\"_ _4\"/>0<span class=\"_ _4\"/> </span>Mov<span class=\"_ _7\"/>ements: Addition <span class=\"_ _64\"> </span>\u2013 <span class=\"_ _140\"> </span>0.5 <span class=\"_ _95\"> </span>\u2013 <span class=\"_ _19a\"> </span>1<span class=\"_ _7\"/>7<span class=\"_ _1\"/>.4 <span class=\"_ _156\"> </span>1<span class=\"_ _3\"/>7<span class=\"_ _1\"/>.9 Reclassification to held f<span class=\"_ _7\"/>or sale/divestments <span class=\"_ _104\"> </span><span class=\"ff3 fc13\">3.6 <span class=\"_ _55\"> </span></span>\u2013 <span class=\"_ _bd\"> </span>- 0.3 <span class=\"_ _95\"> </span>\u2013 <span class=\"_ _d0\"> </span>\u2013 <span class=\"_ _27\"> </span>- 0.3 Reclassification <span class=\"_ _1c7\"> </span>\u2013 <span class=\"_ _bd\"> </span>23.4 <span class=\"_ _95\"> </span>\u2013 <span class=\"_ _b2\"> </span>- 24.2 <span class=\"_ _27\"> </span>- 0.8 Amortization <span class=\"_ _195\"> </span><span class=\"ff3 fc13\">3.7 <span class=\"_ _55\"> </span></span>\u2013 <span class=\"_ _ad\"> </span>- 20.2 <span class=\"_ _27\"> </span>- 0.5 <span class=\"_ _d0\"> </span>\u2013 <span class=\"_ _17\"> </span>- 20.7 Impairment <span class=\"_ _1d0\"> </span><span class=\"ff3 fc13\">3.8 <span class=\"_ _55\"> </span></span>\u2013 <span class=\"_ _bd\"> </span>- 0.2 <span class=\"_ _95\"> </span>\u2013 <span class=\"_ _d0\"> </span>\u2013 <span class=\"_ _27\"> </span>- 0.2 Exc<span class=\"_ _3\"/>hange diff<span class=\"_ _3\"/>erences <span class=\"_ _260\"> </span>0.3 <span class=\"_ _d9\"> </span>1<span class=\"_ _9\"/>.1 <span class=\"_ _ce\"> </span>0.9 <span class=\"_ _c3\"> </span>0.5 <span class=\"_ _ce\"> </span>2.8 Car<span class=\"_ _7\"/>rying amount at 31 December 2022 <span class=\"_ _81\"> </span>6.5 <span class=\"_ _76\"> </span>66.2 <span class=\"_ _16\"> </span>15.4 <span class=\"_ _156\"> </span>21.6 <span class=\"_ _116\"> </span><span class=\"fc0\">109.7 </span>Purc<span class=\"_ _3\"/>hase price of operating assets <span class=\"_ _1dd\"> </span>6.5 <span class=\"_ _155\"> </span>1<span class=\"_ _7\"/>99.6 <span class=\"_ _26\"> </span>50.5 <span class=\"_ _ce\"> </span>21<span class=\"_ _8\"/>.6 <span class=\"_ _17\"> </span>278.2 Accumulated amortization and impairment <span class=\"_ _6d\"> </span>\u2013 <span class=\"_ _9d\"> </span>- 133.4 <span class=\"_ _120\"> </span>- 35.1 <span class=\"_ _d0\"> </span>\u2013 <span class=\"_ _13c\"> </span>- 1<span class=\"_ _7\"/>68.5 Car<span class=\"_ _7\"/>rying amount at 31 December 2022 <span class=\"_ _81\"> </span>6.5 <span class=\"_ _76\"> </span>66.2 <span class=\"_ _16\"> </span>15.4 <span class=\"_ _156\"> </span>21.6 <span class=\"_ _116\"> </span><span class=\"fc0\">109.7 </span>The increase in sof<span class=\"_ _3\"/>tware assets in both years presented, is primarily related to internally dev<span class=\"_ _7\"/>eloped IT projects. F<span class=\"_ _3\"/>or more information on the impairments recognized in 2022 and 2021, ref<span class=\"_ _7\"/>erence is made to note 3.8. 2022 The div<span class=\"_ _7\"/>estment transactions for our Canadian and CRL terminal in India w<span class=\"_ _7\"/>ere finalized and upon loss of control, the goodwill amounts presented as held for sale w<span class=\"_ _7\"/>ere derecognized. 2021 As a result of the held f<span class=\"_ _7\"/>or sale classification of the CRL terminal entit<span class=\"_ _5\"/>y in Kandla and four Canadian terminals located in Hamilton, Montreal East and <span class=\"_ _9\"/>W<span class=\"_ _7\"/>est and Quebec Cit<span class=\"_ _5\"/>y<span class=\"_ _9\"/>, goodwill and intangibles allocated to these terminals have been presented as held f<span class=\"_ _7\"/>or sale for respectiv<span class=\"_ _7\"/>ely EUR 1<span class=\"_ _3\"/>9.3 million and EUR 18.0 million. F<span class=\"_ _3\"/>or more det<span class=\"_ _5\"/>ails, ref<span class=\"_ _7\"/>erence is made to note 3.6. Note 3.3 Pr<span class=\"_ _3\"/>operty<span class=\"_ _9\"/>, plant and equipment - o<span class=\"_ _3\"/>wned assets A<span class=\"_ _1e\"> </span><span class=\"ff3 fs9\">Accounting policies </span>Property<span class=\"_ _3\"/>, plant and equipment mainly relate to the owned terminals assets of the compan<span class=\"_ _7\"/>y whic<span class=\"_ _3\"/>h are used to ser<span class=\"_ _5\"/>vice the customers in the various countries where the Group operates. Property<span class=\"_ _3\"/>, plant and equipment are broken do<span class=\"_ _7\"/>wn into their components and carried at historical cost, net of accumulated straight-line depreciation and less any impairment losses. Interest during construction is capitalized (see also note 5.6). Historical cost includes the initial acquisition cost plus other direct acquisition costs (suc<span class=\"_ _3\"/>h as unrecoverable taxes or transport) and construction costs that can be allocated directly (suc<span class=\"_ _3\"/>h as hours of own employ<span class=\"_ _7\"/>ees and advisor<span class=\"_ _5\"/>y f<span class=\"_ _7\"/>ees). <span class=\"_ _9\"/>T<span class=\"_ _8\"/>o the extent that dismantling obligations exist at the end of the useful lif<span class=\"_ _7\"/>e, these estimated costs and any amendments thereto are included in the cost of the assets.  Subsequent costs are included in the asset\u2019<span class=\"_ _9\"/>s carr<span class=\"_ _5\"/>ying amount or recognized as a separate asset, as appropriate, only when it is probable that future economic benefits associated with the item will flow to the Group and the cost of the item can be measured reliably<span class=\"_ _9\"/>. <span class=\"_ _9\"/>The carr<span class=\"_ _5\"/>ying amount of the replaced part is derecogniz<span class=\"_ _7\"/>ed. Costs of repairs and maintenance that do not increase the future economic benefits and are part of the da<span class=\"_ _7\"/>y-to-da<span class=\"_ _7\"/>y ser<span class=\"_ _5\"/>vicing  of the assets are recognized as e<span class=\"_ _7\"/>xpenses. Mov<span class=\"_ _3\"/>ements in proper<span class=\"_ _7\"/>ty<span class=\"_ _9\"/>, plant and equipment - o<span class=\"_ _7\"/>wned assets T<span class=\"_ _8\"/>ank storag<span class=\"_ _7\"/>e Machinery and Under In EUR millions <span class=\"_ _261\"> </span>Note <span class=\"_ _18a\"> </span><span class=\"fs7 fc7\">Land <span class=\"_ _19a\"> </span>Buildings </span>ter<span class=\"_ _3\"/>minals equipment development <span class=\"_ _18a\"> </span><span class=\"fc0\">T<span class=\"_ _8\"/>otal </span>Purc<span class=\"_ _3\"/>hase price of operating assets <span class=\"_ _262\"> </span>39.2 <span class=\"_ _18a\"> </span>315.7 <span class=\"_ _15a\"> </span>5,638.1 <span class=\"_ _7e\"> </span>1<span class=\"_ _7\"/>32.3 <span class=\"_ _18a\"> </span>709.3 <span class=\"_ _4d\"> </span>6,834.6 Accumulated depreciation and impairment <span class=\"_ _263\"> </span>\u2013 <span class=\"_ _55\"> </span>- 1<span class=\"_ _7\"/>55.0 <span class=\"_ _93\"> </span>- 2,791<span class=\"_ _9\"/>.9 <span class=\"_ _e6\"> </span>- 88.8 <span class=\"_ _130\"> </span>\u2013 <span class=\"_ _bc\"> </span>- 3,035.7 Car<span class=\"_ _7\"/>rying amount at 31 December 2020 <span class=\"_ _264\"> </span>39.2 <span class=\"_ _53\"> </span>160.7 <span class=\"_ _d0\"> </span>2,846.2 <span class=\"_ _b1\"> </span>43.5 <span class=\"_ _190\"> </span>709.3 <span class=\"_ _118\"> </span><span class=\"fc0\">3,798.9 </span>Mov<span class=\"_ _7\"/>ements: Additions <span class=\"_ _265\"> </span>\u2013 <span class=\"_ _db\"> </span>4.0 <span class=\"_ _45\"> </span>54.8 <span class=\"_ _db\"> </span>2.8 <span class=\"_ _7e\"> </span>41<span class=\"_ _7\"/>9.7 <span class=\"_ _7f\"> </span>481<span class=\"_ _9\"/>.3 Disposals <span class=\"_ _266\"> </span>- 0.3 <span class=\"_ _45\"> </span>- 0.6 <span class=\"_ _45\"> </span>- 2.8 <span class=\"_ _db\"> </span>0.1 <span class=\"_ _db\"> </span>0.1 <span class=\"_ _45\"> </span>- 3.5 Reclassification to assets held f<span class=\"_ _7\"/>or sale/divestments <span class=\"_ _208\"> </span><span class=\"ff3 fc13\">3.6 <span class=\"_ _189\"> </span></span>- 1<span class=\"_ _3\"/>7<span class=\"_ _1\"/>.9 <span class=\"_ _45\"> </span>- 6.6 <span class=\"_ _18a\"> </span>- 83.2 <span class=\"_ _45\"> </span>- 3.3 <span class=\"_ _18a\"> </span>- 12.3 <span class=\"_ _55\"> </span>- 1<span class=\"_ _3\"/>23.3 Reclassification <span class=\"_ _267\"> </span>\u2013 <span class=\"_ _88\"> </span>27<span class=\"_ _1\"/>.1 <span class=\"_ _18a\"> </span>729.3 <span class=\"_ _45\"> </span>25.5 <span class=\"_ _31\"> </span>- 785.0 <span class=\"_ _45\"> </span>- 3.1 Reclassification to finance lease <span class=\"_ _229\"> </span><span class=\"ff3 fc13\">9.2 <span class=\"_ _86\"> </span></span>\u2013 <span class=\"_ _183\"> </span>\u2013 <span class=\"_ _8d\"> </span>- 1<span class=\"_ _7\"/>04.1 <span class=\"_ _130\"> </span>\u2013 <span class=\"_ _183\"> </span>\u2013 <span class=\"_ _8d\"> </span>- 1<span class=\"_ _7\"/>04.1 Depreciation <span class=\"_ _268\"> </span><span class=\"ff3 fc13\">3.7 <span class=\"_ _86\"> </span></span>\u2013 <span class=\"_ _7e\"> </span>- 1<span class=\"_ _7\"/>4.3 <span class=\"_ _31\"> </span>- 249.4 <span class=\"_ _7e\"> </span>- 1<span class=\"_ _7\"/>0.6 <span class=\"_ _130\"> </span>\u2013 <span class=\"_ _69\"> </span>- 27<span class=\"_ _9\"/>4.3 Impairment <span class=\"_ _269\"> </span><span class=\"ff3 fc13\">3.8 <span class=\"_ _86\"> </span></span>\u2013 <span class=\"_ _45\"> </span>- 2.4 <span class=\"_ _18a\"> </span>- 52.5 <span class=\"_ _45\"> </span>- 0.2 <span class=\"_ _183\"> </span>\u2013 <span class=\"_ _18a\"> </span>- 55.1 Exc<span class=\"_ _3\"/>hange diff<span class=\"_ _3\"/>erences <span class=\"_ _26a\"> </span>2.8 <span class=\"_ _db\"> </span>4.0 <span class=\"_ _45\"> </span>83.6 <span class=\"_ _db\"> </span>2.0 <span class=\"_ _45\"> </span>25.7 <span class=\"_ _19c\"> </span>1<span class=\"_ _9\"/>18.1 Car<span class=\"_ _7\"/>rying amount at 31 December 2021 <span class=\"_ _264\"> </span>23.8 <span class=\"_ _131\"> </span>171<span class=\"_ _3\"/>.9 <span class=\"_ _a5\"> </span>3,221.9 <span class=\"_ _51\"> </span>59.8 <span class=\"_ _e6\"> </span>357<span class=\"_ _8\"/>.5 <span class=\"_ _19b\"> </span><span class=\"fc0\">3,834.9 </span>Purc<span class=\"_ _3\"/>hase price of operating assets <span class=\"_ _262\"> </span>23.8 <span class=\"_ _e6\"> </span>348.4 <span class=\"_ _228\"> </span>6,312.3 <span class=\"_ _18a\"> </span>1<span class=\"_ _7\"/>56.2 <span class=\"_ _1bb\"> </span>357<span class=\"_ _1\"/>.5 <span class=\"_ _31\"> </span>7<span class=\"_ _1\"/>,198.2 Accumulated depreciation and impairment <span class=\"_ _263\"> </span>\u2013 <span class=\"_ _69\"> </span>- 1<span class=\"_ _3\"/>7<span class=\"_ _7\"/>6.5 <span class=\"_ _bc\"> </span>- 3,090.4 <span class=\"_ _18a\"> </span>- 96.4 <span class=\"_ _183\"> </span>\u2013 <span class=\"_ _18e\"> </span>- 3,363.3 Car<span class=\"_ _7\"/>rying amount at 31 December 2021 <span class=\"_ _264\"> </span>23.8 <span class=\"_ _131\"> </span>171<span class=\"_ _3\"/>.9 <span class=\"_ _a5\"> </span>3,221.9 <span class=\"_ _51\"> </span>59.8 <span class=\"_ _e6\"> </span>357<span class=\"_ _8\"/>.5 <span class=\"_ _19b\"> </span><span class=\"fc0\">3,834.9 </span>Mov<span class=\"_ _7\"/>ements: Additions <span class=\"_ _265\"> </span>\u2013 <span class=\"_ _113\"> </span>1<span class=\"_ _9\"/>.8 <span class=\"_ _db\"> </span>9.4 <span class=\"_ _113\"> </span>1<span class=\"_ _9\"/>.9 <span class=\"_ _18a\"> </span>356.9 <span class=\"_ _e6\"> </span>370.0 Disposals <span class=\"_ _26b\"> </span>\u2013 <span class=\"_ _db\"> </span>0.1 <span class=\"_ _2f\"> </span>- 1<span class=\"_ _9\"/>.7 <span class=\"_ _45\"> </span>- 0.2 <span class=\"_ _45\"> </span>- 0.4 <span class=\"_ _45\"> </span>- 2.2 Reclassification to assets held f<span class=\"_ _7\"/>or sale/divestments <span class=\"_ _208\"> </span><span class=\"ff3 fc13\">3.6 <span class=\"_ _86\"> </span></span>\u2013 <span class=\"_ _189\"> </span>- 0.1 <span class=\"_ _1bc\"> </span>0.5 <span class=\"_ _189\"> </span>- 0.6 <span class=\"_ _e6\"> </span>- 26.9 <span class=\"_ _1bb\"> </span>- 27<span class=\"_ _1\"/>.1 Reclassification <span class=\"_ _267\"> </span>\u2013 <span class=\"_ _80\"> </span>7<span class=\"_ _1\"/>.5 <span class=\"_ _7c\"> </span>31<span class=\"_ _3\"/>1<span class=\"_ _9\"/>.4 <span class=\"_ _1bc\"> </span>6.8 <span class=\"_ _55\"> </span>- 324.9 <span class=\"_ _db\"> </span>0.8 Depreciation <span class=\"_ _268\"> </span><span class=\"ff3 fc13\">3.7 <span class=\"_ _86\"> </span></span>\u2013 <span class=\"_ _7e\"> </span>- 1<span class=\"_ _7\"/>4.3 <span class=\"_ _31\"> </span>- 252.0 <span class=\"_ _7c\"> </span>- 1<span class=\"_ _3\"/>1<span class=\"_ _9\"/>.0 <span class=\"_ _183\"> </span>\u2013 <span class=\"_ _44\"> </span>- 277<span class=\"_ _1\"/>.3 Impairment <span class=\"_ _269\"> </span><span class=\"ff3 fc13\">3.8 <span class=\"_ _86\"> </span></span>\u2013 <span class=\"_ _18a\"> </span>- 22.4 <span class=\"_ _31\"> </span>- 425.0 <span class=\"_ _2f\"> </span>- 1<span class=\"_ _9\"/>.2 <span class=\"_ _130\"> </span>\u2013 <span class=\"_ _31\"> </span>- 448.6 Exc<span class=\"_ _3\"/>hange diff<span class=\"_ _3\"/>erences <span class=\"_ _26c\"> </span>1<span class=\"_ _9\"/>.8 <span class=\"_ _1bc\"> </span>3.0 <span class=\"_ _88\"> </span>81<span class=\"_ _8\"/>.6 <span class=\"_ _db\"> </span>2.0 <span class=\"_ _1c3\"> </span>7<span class=\"_ _1\"/>.7 <span class=\"_ _45\"> </span>96.1 Car<span class=\"_ _7\"/>rying amount at 31 December 2022 <span class=\"_ _264\"> </span>25.6 <span class=\"_ _e6\"> </span>147<span class=\"_ _8\"/>.5 <span class=\"_ _19b\"> </span>2,946.1 <span class=\"_ _189\"> </span>57<span class=\"_ _8\"/>.5 <span class=\"_ _53\"> </span>369.9 <span class=\"_ _19b\"> </span><span class=\"fc0\">3,546.6 </span>Purc<span class=\"_ _3\"/>hase price of operating assets <span class=\"_ _262\"> </span>25.6 <span class=\"_ _e6\"> </span>363.6 <span class=\"_ _e1\"> </span>6,7<span class=\"_ _3\"/>68.2 <span class=\"_ _7e\"> </span>1<span class=\"_ _7\"/>64.5 <span class=\"_ _18a\"> </span>369.9 <span class=\"_ _55\"> </span>7<span class=\"_ _8\"/>,691<span class=\"_ _9\"/>.8 Accumulated depreciation and impairment <span class=\"_ _263\"> </span>\u2013 <span class=\"_ _55\"> </span>- 21<span class=\"_ _7\"/>6.1 <span class=\"_ _18e\"> </span>- 3,822.1 <span class=\"_ _c7\"> </span>- 1<span class=\"_ _3\"/>07<span class=\"_ _1\"/>.0 <span class=\"_ _130\"> </span>\u2013 <span class=\"_ _e3\"> </span>- 4,1<span class=\"_ _3\"/>45.2 Car<span class=\"_ _7\"/>rying amount at 31 December 2022 <span class=\"_ _264\"> </span>25.6 <span class=\"_ _e6\"> </span>147<span class=\"_ _8\"/>.5 <span class=\"_ _19b\"> </span>2,946.1 <span class=\"_ _189\"> </span>57<span class=\"_ _8\"/>.5 <span class=\"_ _53\"> </span>369.9 <span class=\"_ _19b\"> </span><span class=\"fc0\">3,546.6 </span>F<span class=\"_ _7\"/>or an ov<span class=\"_ _7\"/>er<span class=\"_ _5\"/>view of in<span class=\"_ _7\"/>vestment commitments of the Group in relation to property<span class=\"_ _3\"/>, plant and equipment ref<span class=\"_ _7\"/>erence is made to note 9.7<span class=\"_ _d\"/>. Note 3.4 Leases A<span class=\"_ _1e\"> </span><span class=\"ff3 fs9\">Accounting policies </span>In line with the nature of its activities, the Group has a large portf<span class=\"_ _7\"/>olio of long-term land leases and leases of other non-current assets suc<span class=\"_ _3\"/>h as jet<span class=\"_ _7\"/>ties, of<span class=\"_ _7\"/>fices and other equipment. Most of the contracts contain extension options. Contracts typically cont<span class=\"_ _5\"/>ain both lease and non-lease components. <span class=\"_ _9\"/>T<span class=\"_ _7\"/>he Group allocates the consideration in the contract to the lease and non-lease components based on their relative stand-alone prices. <span class=\"_ _9\"/>The non-lease components are normally relativ<span class=\"_ _7\"/>ely small. Lease terms are negotiated on an individual basis and contain a wide range of dif<span class=\"_ _7\"/>f<span class=\"_ _7\"/>erent terms and conditions. <span class=\"_ _9\"/>T<span class=\"_ _7\"/>he lease agreements in general do not impose any co<span class=\"_ _7\"/>venants other than the security interests in the leased assets that are held by the lessor<span class=\"_ _3\"/>. Leased assets cannot be used as security for borro<span class=\"_ _7\"/>wing purposes by the Group. Determining the right-of-use asset and the lease liability <span class=\"ff1\"> </span>Assets and liabilities arising from a lease are initially measured on a present v<span class=\"_ _7\"/>alue basis. Lease liabilities include the net present v<span class=\"_ _7\"/>alue of the follo<span class=\"_ _7\"/>wing lease payments: \u2022 <span class=\"_ _19f\"> </span><span class=\"fc1\">fixed pa<span class=\"_ _7\"/>yments (including in-substance fixed payments), less an<span class=\"_ _7\"/>y lease incentives </span>receivable \u2022 <span class=\"_ _19f\"> </span><span class=\"fc1\">variable lease pa<span class=\"_ _7\"/>yment that are based on an index or a rate, initially measured using the </span>index or rate as at the commencement date \u2022 <span class=\"_ _19f\"> </span><span class=\"fc1\">amounts expected to be pa<span class=\"_ _7\"/>yable b<span class=\"_ _7\"/>y the group under residual value guarantees (normally </span>not present) \u2022 <span class=\"_ _19f\"> </span><span class=\"fc1\">the ex<span class=\"_ _7\"/>ercise price of a purc<span class=\"_ _3\"/>hase option if the group is reasonably cert<span class=\"_ _5\"/>ain to ex<span class=\"_ _7\"/>ercise that </span>option, and \u2022 <span class=\"_ _19f\"> </span><span class=\"fc1\">payments of penalties f<span class=\"_ _7\"/>or terminating the lease, if the lease term reflects the group </span>ex<span class=\"_ _7\"/>ercising that option. When it is reasonably certain that a lease extension option will be ex<span class=\"_ _7\"/>ercised, lease payments that are to be made under these extension options are also included in the measurement of the liability<span class=\"_ _3\"/>. Determining the discount rate <span class=\"ff1\"> </span>The lease pa<span class=\"_ _7\"/>yments are in almost all instances discounted using the increment<span class=\"_ _5\"/>al borrowing rate of the <span class=\"_ _3\"/>V<span class=\"_ _9\"/>opak entit<span class=\"_ _5\"/>y entering into the lease. <span class=\"_ _9\"/>T<span class=\"_ _7\"/>his is because the interest rate implicit in the lease can in most instances not be readily determined. <span class=\"_ _9\"/>The incremental borrowing rate is the rate that the individual entity would hav<span class=\"_ _7\"/>e to pay to borro<span class=\"_ _3\"/>w the funds necessar<span class=\"_ _5\"/>y to obt<span class=\"_ _5\"/>ain an asset of similar value to the right-of-use asset, in a similar economic en<span class=\"_ _7\"/>vironment with similar terms, security and conditions. Lease e<span class=\"_ _7\"/>xpenses <span class=\"ff1\"> </span>Lease pa<span class=\"_ _7\"/>yments are allocated between a principal and interest expense. <span class=\"_ _8\"/>The interest expense is c<span class=\"_ _3\"/>harged to profit or loss ov<span class=\"_ _7\"/>er the lease period to produce a constant periodic rate of interest on the remaining balance of the liability for eac<span class=\"_ _3\"/>h period. Right-of-use assets are depreciated ov<span class=\"_ _7\"/>er the shorter of the asset\u2019<span class=\"_ _9\"/>s useful life and the lease term on a straight-line basis. If the Group is reasonably certain to exercise a purc<span class=\"_ _3\"/>hase option, the right-of-use asset is depreciated ov<span class=\"_ _7\"/>er the underlying asset\u2019<span class=\"_ _9\"/>s useful life. Short-term and low<span class=\"_ _3\"/>-value leases <span class=\"ff1\"> </span>P<span class=\"_ _7\"/>ayments associated with short-term leases and all leases of low<span class=\"_ _3\"/>-value assets are recognized on a straight-line basis as an e<span class=\"_ _7\"/>xpense in profit or loss. Short-term leases are leases with a lease term of 1<span class=\"_ _3\"/>2 months or less. Low<span class=\"_ _3\"/>-value assets primarily comprise IT and communication equipment and small items of of<span class=\"_ _7\"/>fice furniture. Short-term leases ma<span class=\"_ _3\"/>y also relate to long-term (land) leases for whic<span class=\"_ _3\"/>h the original maximum contract term has expired and a new contract is cur<span class=\"_ _7\"/>rently under negotiation. The risks associated with leases <span class=\"ff1\"> </span>The group is e<span class=\"_ _7\"/>xposed to the risk of potential future increases in the periodic lease pa<span class=\"_ _7\"/>yments based on an index or rate, whic<span class=\"_ _3\"/>h are not included in the lease liability until they take ef<span class=\"_ _7\"/>f<span class=\"_ _7\"/>ect. When suc<span class=\"_ _3\"/>h adjustments to lease payments occur<span class=\"_ _3\"/>, the lease liability is reassessed and adjusted against the right-of-use asset. F<span class=\"_ _3\"/>urthermore, the Group also runs the risks that critical lease contracts expire and cannot be renew<span class=\"_ _7\"/>ed. In suc<span class=\"_ _3\"/>h inst<span class=\"_ _5\"/>ances the Group has to decommission the terminal by either handing ov<span class=\"_ _7\"/>er the site together with the assets to the lessor<span class=\"_ _3\"/>, or by demolishing the assets, cleaning up the site and handing ov<span class=\"_ _7\"/>er the site to the lessor<span class=\"_ _3\"/>. In most instances the Group is able to enter into a new lease contract, y<span class=\"_ _7\"/>et frequently at higher rates. <span class=\"ff3 fsc\">Ke<span class=\"_ _7\"/>y accounting estimates and judgments </span>Determining the term of a lease contract <span class=\"ff1\"> </span>Extension and termination options are included in most lease contracts held by the Group. <span class=\"_ _8\"/>These options are used to maximize operational fle<span class=\"_ _7\"/>xibility in terms of managing the assets used in the Group\u2019<span class=\"_ _9\"/>s operations. <span class=\"_ _9\"/>The majority of extension and termination options held are ex<span class=\"_ _7\"/>ercisable only by the Group and not by the respectiv<span class=\"_ _7\"/>e lessor<span class=\"_ _3\"/>. <span class=\"_ _9\"/>This is explicitly the case f<span class=\"_ _7\"/>or the land lease contracts. In determining the lease term, management considers all facts and circumstances that create an economic incentive to e<span class=\"_ _7\"/>xercise an extension option, or to not e<span class=\"_ _7\"/>xercise a termination option. Extension options (or periods af<span class=\"_ _7\"/>ter termination options) are only included in the lease term if the lease is reasonably certain to be extended (or not terminated).   F<span class=\"_ _7\"/>or leases of land, sea and jet<span class=\"_ _7\"/>ties the follo<span class=\"_ _7\"/>wing factors are normally the most relev<span class=\"_ _7\"/>ant: \u2022 <span class=\"_ _192\"> </span><span class=\"fc1\">Remaining useful liv<span class=\"_ _7\"/>es of the t<span class=\"_ _5\"/>ank terminal assets whic<span class=\"_ _3\"/>h depend on the lease term of   </span>the lease contract \u2022 <span class=\"_ _192\"> </span><span class=\"fc1\">Remaining duration of long-term customer contracts </span>\u2022 <span class=\"_ _192\"> </span><span class=\"fc1\">The amount of the penalties to terminate (or not e<span class=\"_ _7\"/>xtend) </span>\u2022 <span class=\"_ _192\"> </span><span class=\"fc1\">Other factors, including historical lease durations and the costs and business disr<span class=\"_ _7\"/>uption that is </span>expected to be incurred to replace the leased asset.  F<span class=\"_ _7\"/>or most of the land lease contracts it was assessed by management that it w<span class=\"_ _7\"/>as reasonably certain that the extension options will be ex<span class=\"_ _7\"/>ercised. <span class=\"_ _9\"/>The lease term is reassessed if an option is actually e<span class=\"_ _7\"/>xercised (or not e<span class=\"_ _7\"/>xercised) or the group becomes obliged to ex<span class=\"_ _7\"/>ercise (or not ex<span class=\"_ _7\"/>ercise) it. The assessment of reasonable certainty is only revised if a significant ev<span class=\"_ _7\"/>ent or a significant c<span class=\"_ _7\"/>hange in circumstances occurs, which af<span class=\"_ _3\"/>f<span class=\"_ _7\"/>ects this assessment, and that is within the control of the lessee.   No other material estimates and judgments are applied by the Group with regards to leases. Mov<span class=\"_ _3\"/>ements in right-of-use assets and r<span class=\"_ _3\"/>elated lease liabilities Set out below<span class=\"_ _9\"/>, are the carr<span class=\"_ _5\"/>ying amounts of the Group\u2019<span class=\"_ _9\"/>s leased (right-of-use) assets and lease liabilities and the mov<span class=\"_ _7\"/>ements during the period. T<span class=\"_ _8\"/>ank storag<span class=\"_ _7\"/>e Machinery and Lease  <span class=\"ws3\"> </span>In EUR millions<span class=\"_ _26d\"> </span>Note <span class=\"_ _18a\"> </span><span class=\"fs7 fc7\">Land <span class=\"_ _19a\"> </span>Buildings </span>ter<span class=\"_ _3\"/>minals equipment <span class=\"_ _18a\"> </span><span class=\"fc0\">T<span class=\"_ _8\"/>otal </span>liabilities Purc<span class=\"_ _3\"/>hase price of operating assets <span class=\"_ _26e\"> </span>631<span class=\"_ _9\"/>.0 <span class=\"_ _2f\"> </span>41<span class=\"_ _9\"/>.7 <span class=\"_ _1bc\"> </span>6.5 <span class=\"_ _66\"> </span>1<span class=\"_ _7\"/>3.1 <span class=\"_ _e6\"> </span>692.3 <span class=\"_ _130\"> </span>\u2013 Accumulated depreciation and impairment <span class=\"_ _256\"> </span>- 50.1 <span class=\"_ _45\"> </span>- 3.7 <span class=\"_ _2f\"> </span>- 1<span class=\"_ _9\"/>.0 <span class=\"_ _45\"> </span>- 5.3 <span class=\"_ _e6\"> </span>- 60.1 <span class=\"_ _130\"> </span>\u2013 Opening balance at 31 December 2020 <span class=\"_ _dd\"> </span>580.9 <span class=\"_ _b1\"> </span>38.0 <span class=\"_ _cb\"> </span>5.5 <span class=\"_ _81\"> </span>7<span class=\"_ _8\"/>.8 <span class=\"_ _53\"> </span><span class=\"fc0\">632.2 <span class=\"_ _15a\"> </span></span>- 699.2 Mov<span class=\"_ _7\"/>ements: Additions <span class=\"_ _265\"> </span>\u2013 <span class=\"_ _113\"> </span>1<span class=\"_ _9\"/>.7 <span class=\"_ _130\"> </span>\u2013 <span class=\"_ _db\"> </span>5.6 <span class=\"_ _80\"> </span>7<span class=\"_ _1\"/>.3 <span class=\"_ _108\"> </span>- 7<span class=\"_ _1\"/>.3 Depreciation <span class=\"_ _268\"> </span><span class=\"ff3 fc13\">3.7 <span class=\"_ _46\"> </span></span>- 30.8 <span class=\"_ _45\"> </span>- 4.2 <span class=\"_ _45\"> </span>- 0.5 <span class=\"_ _45\"> </span>- 4.4 <span class=\"_ _18a\"> </span>- 39.9 <span class=\"_ _183\"> </span>\u2013 Remeasurement <span class=\"_ _26f\"> </span>44.7 <span class=\"_ _db\"> </span>0.6 <span class=\"_ _45\"> </span>- 0.4 <span class=\"_ _113\"> </span>1<span class=\"_ _9\"/>.1 <span class=\"_ _45\"> </span>46.0 <span class=\"_ _18a\"> </span>- 46.0 Unwinding interest <span class=\"_ _270\"> </span><span class=\"ff3 fc13\">5.6 <span class=\"_ _86\"> </span></span>\u2013 <span class=\"_ _130\"> </span>\u2013 <span class=\"_ _130\"> </span>\u2013 <span class=\"_ _130\"> </span>\u2013 <span class=\"_ _183\"> </span>\u2013 <span class=\"_ _18a\"> </span>- 22.4 Pa<span class=\"_ _7\"/>yments <span class=\"_ _271\"> </span>\u2013 <span class=\"_ _130\"> </span>\u2013 <span class=\"_ _183\"> </span>\u2013 <span class=\"_ _130\"> </span>\u2013 <span class=\"_ _130\"> </span>\u2013 <span class=\"_ _45\"> </span>56.7 Divestments/reclassification to assets held f<span class=\"_ _7\"/>or sale <span class=\"_ _20f\"> </span><span class=\"ff3 fc13\">3.6 <span class=\"_ _b1\"> </span></span>- 21<span class=\"_ _9\"/>.7 <span class=\"_ _45\"> </span>- 0.7 <span class=\"_ _130\"> </span>\u2013 <span class=\"_ _183\"> </span>\u2013 <span class=\"_ _18a\"> </span>- 22.4 <span class=\"_ _45\"> </span>26.5 Reclassifications <span class=\"_ _272\"> </span>0.9 <span class=\"_ _45\"> </span>- 0.6 <span class=\"_ _45\"> </span>- 0.9 <span class=\"_ _130\"> </span>\u2013 <span class=\"_ _45\"> </span>- 0.6 <span class=\"_ _130\"> </span>\u2013 Exc<span class=\"_ _3\"/>hange rate diff<span class=\"_ _3\"/>erences <span class=\"_ _273\"> </span>1<span class=\"_ _3\"/>7<span class=\"_ _1\"/>.1 <span class=\"_ _db\"> </span>0.2 <span class=\"_ _100\"> </span>0.3 <span class=\"_ _130\"> </span>\u2013 <span class=\"_ _3f\"> </span>1<span class=\"_ _3\"/>7<span class=\"_ _1\"/>.6 <span class=\"_ _7e\"> </span>- 1<span class=\"_ _7\"/>9.6 Car<span class=\"_ _7\"/>rying amount at 31 December 2021 <span class=\"_ _274\"> </span>591<span class=\"_ _7\"/>.1 <span class=\"_ _51\"> </span>35.0 <span class=\"_ _cb\"> </span>4.0 <span class=\"_ _83\"> </span>1<span class=\"_ _7\"/>0.1 <span class=\"_ _53\"> </span><span class=\"fc0\">640.2 <span class=\"_ _87\"> </span></span>- 71<span class=\"_ _9\"/>1.3 Purc<span class=\"_ _3\"/>hase price of operating assets <span class=\"_ _275\"> </span>669.5 <span class=\"_ _45\"> </span>42.4 <span class=\"_ _db\"> </span>5.4 <span class=\"_ _189\"> </span>18.1 <span class=\"_ _e6\"> </span>735.4 <span class=\"_ _183\"> </span>\u2013 Accumulated depreciation and impairment <span class=\"_ _256\"> </span>- 78.4 <span class=\"_ _88\"> </span>- 7<span class=\"_ _1\"/>.4 <span class=\"_ _88\"> </span>- 1<span class=\"_ _8\"/>.4 <span class=\"_ _45\"> </span>- 8.0 <span class=\"_ _18a\"> </span>- 95.2 <span class=\"_ _130\"> </span>\u2013 Car<span class=\"_ _7\"/>rying amount at 31 December 2021 <span class=\"_ _274\"> </span>591<span class=\"_ _7\"/>.1 <span class=\"_ _51\"> </span>35.0 <span class=\"_ _cb\"> </span>4.0 <span class=\"_ _83\"> </span>1<span class=\"_ _7\"/>0.1 <span class=\"_ _53\"> </span><span class=\"fc0\">640.2 <span class=\"_ _87\"> </span></span>- 71<span class=\"_ _9\"/>1.3 Mov<span class=\"_ _7\"/>ements: Additions <span class=\"_ _276\"> </span>39.0 <span class=\"_ _113\"> </span>1<span class=\"_ _9\"/>.0 <span class=\"_ _130\"> </span>\u2013 <span class=\"_ _db\"> </span>8.3 <span class=\"_ _45\"> </span>48.3 <span class=\"_ _e6\"> </span>- 48.3 Depreciation <span class=\"_ _268\"> </span><span class=\"ff3 fc13\">3.7 <span class=\"_ _46\"> </span></span>- 32.5 <span class=\"_ _45\"> </span>- 4.1 <span class=\"_ _45\"> </span>- 0.6 <span class=\"_ _45\"> </span>- 4.7 <span class=\"_ _7f\"> </span>- 41<span class=\"_ _9\"/>.9 <span class=\"_ _130\"> </span>\u2013 Remeasurement <span class=\"_ _26f\"> </span>25.7 <span class=\"_ _db\"> </span>2.8 <span class=\"_ _db\"> </span>0.5 <span class=\"_ _db\"> </span>0.1 <span class=\"_ _45\"> </span>29.1 <span class=\"_ _18a\"> </span>- 29.1 Unwinding interest <span class=\"_ _270\"> </span><span class=\"ff3 fc13\">5.6 <span class=\"_ _86\"> </span></span>\u2013 <span class=\"_ _130\"> </span>\u2013 <span class=\"_ _130\"> </span>\u2013 <span class=\"_ _130\"> </span>\u2013 <span class=\"_ _183\"> </span>\u2013 <span class=\"_ _18a\"> </span>- 23.2 Pa<span class=\"_ _7\"/>yments <span class=\"_ _271\"> </span>\u2013 <span class=\"_ _130\"> </span>\u2013 <span class=\"_ _183\"> </span>\u2013 <span class=\"_ _130\"> </span>\u2013 <span class=\"_ _130\"> </span>\u2013 <span class=\"_ _45\"> </span>64.1 Divestments/reclassification to assets held f<span class=\"_ _7\"/>or sale <span class=\"_ _20f\"> </span><span class=\"ff3 fc13\">3.6 <span class=\"_ _46\"> </span></span>- 38.2 <span class=\"_ _88\"> </span>- 1<span class=\"_ _8\"/>.5 <span class=\"_ _130\"> </span>\u2013 <span class=\"_ _45\"> </span>- 0.1 <span class=\"_ _18a\"> </span>- 39.8 <span class=\"_ _45\"> </span>39.3 Exc<span class=\"_ _3\"/>hange rate diff<span class=\"_ _3\"/>erences <span class=\"_ _277\"> </span>1<span class=\"_ _7\"/>2.5 <span class=\"_ _db\"> </span>0.2 <span class=\"_ _130\"> </span>\u2013 <span class=\"_ _130\"> </span>\u2013 <span class=\"_ _189\"> </span>1<span class=\"_ _7\"/>2.7 <span class=\"_ _18a\"> </span>- 16.5 Car<span class=\"_ _7\"/>rying amount at 31 December 2022 <span class=\"_ _278\"> </span>597<span class=\"_ _8\"/>.6 <span class=\"_ _51\"> </span>33.4 <span class=\"_ _cb\"> </span>3.9 <span class=\"_ _b1\"> </span>13.7 <span class=\"_ _53\"> </span><span class=\"fc0\">648.6 <span class=\"_ _15a\"> </span></span>- 725.0 Purc<span class=\"_ _3\"/>hase price of operating assets <span class=\"_ _275\"> </span>709.7 <span class=\"_ _45\"> </span>42.7 <span class=\"_ _db\"> </span>5.9 <span class=\"_ _45\"> </span>24.0 <span class=\"_ _18a\"> </span>782.3 <span class=\"_ _183\"> </span>\u2013 Accumulated depreciation and impairment <span class=\"_ _df\"> </span>- 1<span class=\"_ _3\"/>1<span class=\"_ _7\"/>2.1 <span class=\"_ _45\"> </span>- 9.3 <span class=\"_ _45\"> </span>- 2.0 <span class=\"_ _7e\"> </span>- 1<span class=\"_ _3\"/>0.3 <span class=\"_ _8d\"> </span>- 1<span class=\"_ _7\"/>33.7 <span class=\"_ _130\"> </span>\u2013 Car<span class=\"_ _7\"/>rying amount at 31 December 2022 <span class=\"_ _278\"> </span>597<span class=\"_ _8\"/>.6 <span class=\"_ _51\"> </span>33.4 <span class=\"_ _cb\"> </span>3.9 <span class=\"_ _b1\"> </span>13.7 <span class=\"_ _53\"> </span><span class=\"fc0\">648.6 <span class=\"_ _15a\"> </span></span>- 725.0 The w<span class=\"_ _7\"/>eighted av<span class=\"_ _7\"/>erage incremental borrowing rate applied to the lease liabilities (ex<span class=\"_ _7\"/>cluding divested) recogniz<span class=\"_ _7\"/>ed at the end of 2022 was 3.2% (2021: 3.1%). <span class=\"_ _8\"/>The remaining weighted av<span class=\"_ _7\"/>erage lease term was 24.6 y<span class=\"_ _7\"/>ears at 31 December 2022 (2021: 25.0 years). The total cash outflows f<span class=\"_ _7\"/>or leases for the y<span class=\"_ _7\"/>ear presented, including short-term and low<span class=\"_ _3\"/>-value leases, amounted to EUR 68.1 million (2021: EUR 62.4 million). Amounts r<span class=\"_ _7\"/>ecognized in the income stat<span class=\"_ _7\"/>ement Set out below are the amounts recogniz<span class=\"_ _7\"/>ed in the income statement during the period. In EUR millions <span class=\"_ _12a\"> </span>2022 <span class=\"_ _7f\"> </span>2021Lo<span class=\"_ _7\"/>w-v<span class=\"_ _7\"/>alue assets lease expenses <span class=\"_ _218\"> </span>1<span class=\"_ _9\"/>.2 <span class=\"_ _113\"> </span>1<span class=\"_ _9\"/>.0 Short-term leases expenses <span class=\"_ _17d\"> </span>1<span class=\"_ _8\"/>.8 <span class=\"_ _db\"> </span>3.6 V<span class=\"_ _3\"/>ariable lease expenses <span class=\"_ _23c\"> </span>1<span class=\"_ _9\"/>.0 <span class=\"_ _113\"> </span>1<span class=\"_ _9\"/>.1 Depreciation right-of-use assets <span class=\"_ _1fb\"> </span>41<span class=\"_ _8\"/>.9 <span class=\"_ _45\"> </span>39.9 Interest expenses on lease liabilities <span class=\"_ _279\"> </span>23.2 <span class=\"_ _45\"> </span>22.4 T<span class=\"_ _8\"/>otal <span class=\"_ _247\"> </span><span class=\"fc0\">69.1 <span class=\"_ _51\"> </span></span>68.0 Matur<span class=\"_ _3\"/>ity profile of lease contr<span class=\"_ _7\"/>act portf<span class=\"_ _7\"/>olio The table below analy<span class=\"_ _7\"/>ses the Group\u2019<span class=\"_ _9\"/>s contractual lease obligations into rele<span class=\"_ _7\"/>vant mat<span class=\"_ _7\"/>urit<span class=\"_ _5\"/>y categories based on the remaining period at the end of the reporting period. It includes the nominal payments of the lease liabilities that are recogniz<span class=\"_ _7\"/>ed in the balance sheet as well as the nominal payments related to the short-term and lo<span class=\"_ _7\"/>w<span class=\"_ _7\"/>-value lease contracts. In addition, also a graph is including depicting the maturity profile of the lease contract portfolio in a graphical manner<span class=\"_ _3\"/>. &lt; 1  1 - 2  2-5  5-1<span class=\"_ _3\"/>0  1<span class=\"_ _3\"/>0-15  15-20  20-25  25-30  30-35  35-40 &gt; 40 In EUR millions year years years year years years years years years years years <span class=\"_ _b\"> </span><span class=\"fc0\">T<span class=\"_ _9\"/>otal </span>Nominal contractual lease obligation <span class=\"_ _fe\"> </span>56.8 <span class=\"_ _13\"> </span> 51<span class=\"_ _9\"/>.6 <span class=\"_ _1dc\"> </span> 1<span class=\"_ _7\"/>47 <span class=\"_ _24\"> </span> 226.5 <span class=\"_ _10a\"> </span> 1<span class=\"_ _3\"/>73 <span class=\"_ _1e\"> </span> 1<span class=\"_ _3\"/>59.9 <span class=\"_ _b3\"> </span>1<span class=\"_ _3\"/>05.7 <span class=\"_ _10b\"> </span>78.3 <span class=\"_ _1dc\"> </span>43.9 <span class=\"_ _27a\"> </span>31<span class=\"_ _9\"/>.7 <span class=\"_ _fd\"> </span>1<span class=\"_ _9\"/>1<span class=\"_ _9\"/>.7 <span class=\"_ _1d\"> </span>1<span class=\"_ _7\"/>086.1 As per 31 December 2022, there are no material lease contracts to whic<span class=\"_ _3\"/>h the Group is commit<span class=\"_ _3\"/>ted, but which ha<span class=\"_ _3\"/>ve not yet commenced. Note 3.5 J<span class=\"_ _7\"/>oint vent<span class=\"_ _7\"/>ur<span class=\"_ _7\"/>es and associates  V<span class=\"_ _3\"/>opak\u2019<span class=\"_ _9\"/>s interest in the principal joint vent<span class=\"_ _7\"/>ures and associates at year<span class=\"_ _9\"/>-end 2022 consisted of 27 (2021: 26) unlisted joint vent<span class=\"_ _7\"/>ures and 1<span class=\"_ _3\"/>0 (2021: 9) unlisted associates. <span class=\"_ _7\"/>Although the Group conducts a large part of its activities by means of these joint v<span class=\"_ _7\"/>entures and associates, none of these entities are currently individually material f<span class=\"_ _7\"/>or the Group. <span class=\"_ _9\"/>The nat<span class=\"_ _3\"/>ure of<span class=\"_ _7\"/>, and c<span class=\"_ _7\"/>hanges in, the risks associated with its interests in joint vent<span class=\"_ _7\"/>ures and associates is primarily linked to the region and/or the activities. F<span class=\"_ _7\"/>or the disclosure of the nature, e<span class=\"_ _7\"/>xtent and financial ef<span class=\"_ _7\"/>f<span class=\"_ _7\"/>ects of our joint vent<span class=\"_ _7\"/>ures and associates, we mak<span class=\"_ _7\"/>e a distinction in the activities of the divisions Europe &amp; Africa (limited number of oil and c<span class=\"_ _3\"/>hemical terminals), A<span class=\"_ _7\"/>sia &amp; Middle East, (all types of storage terminals, ex<span class=\"_ _7\"/>cept LNG), New Energy &amp; LNG (joint v<span class=\"_ _7\"/>entures and associates with long-term contracts) and China &amp; North A<span class=\"_ _7\"/>sia (mainly industrial terminals). <span class=\"_ _9\"/>T<span class=\"_ _7\"/>he Americas division currently has a number of joint v<span class=\"_ _7\"/>entures and associates mainly operating gas and industrial terminals. No significant judgments were made b<span class=\"_ _7\"/>y the Group with regard to the classification of joint vent<span class=\"_ _7\"/>ures and associates. All material joint ar<span class=\"_ _7\"/>rangements are currently classified as joint vent<span class=\"_ _7\"/>ures because joint control is established by contract and the Group only has rights to the net assets of these entities. <span class=\"_ _9\"/>T<span class=\"_ _7\"/>he Group currently has no material inv<span class=\"_ _7\"/>estment in a joint operation. The Group has se<span class=\"_ _7\"/>veral majority ownerships whic<span class=\"_ _3\"/>h qualify as joint vent<span class=\"_ _7\"/>ures: a 60% majority ownership in LNG <span class=\"_ _8\"/>T<span class=\"_ _9\"/>erminal Altamira in Mexico, a 51% majority ownership in <span class=\"_ _9\"/>V<span class=\"_ _3\"/>opak <span class=\"_ _9\"/>T<span class=\"_ _8\"/>erminals Korea Ltd., a 51% majority ownership in <span class=\"_ _9\"/>V<span class=\"_ _3\"/>opak (Qinzhou) Jet<span class=\"_ _3\"/>t<span class=\"_ _5\"/>y Co., Ltd. and in Guangxi Hualin Jet<span class=\"_ _3\"/>ty Co., Ltd. each, both in China. In Me<span class=\"_ _3\"/>xico, the Group has 50% of the voting rights. In Korea, the partner o<span class=\"_ _7\"/>wns an ex<span class=\"_ _7\"/>ercisable call option right at any time of 1% of the shares and therefore the substantive v<span class=\"_ _7\"/>oting rights of the Group are limited to 50%. In China, for both entities and in India all decisions about the relev<span class=\"_ _7\"/>ant activities of the entity are made based on unanimous consent of the shareholders in accordance with the shareholders agreement concerned. The Group has a 1<span class=\"_ _9\"/>0% equit<span class=\"_ _5\"/>y interest in <span class=\"_ _9\"/>V<span class=\"_ _3\"/>opak <span class=\"_ _9\"/>T<span class=\"_ _9\"/>erminal Eemsha<span class=\"_ _7\"/>ven in the Netherlands whic<span class=\"_ _3\"/>h is classified as an associate as the Group has significant influence. <span class=\"_ _9\"/>T<span class=\"_ _7\"/>he Group has been appointed as operator of this terminal. A<span class=\"_ _7\"/>s operator<span class=\"_ _3\"/>, <span class=\"_ _3\"/>V<span class=\"_ _3\"/>opak has the right to appoint the management board of the terminal. In addition, as 1<span class=\"_ _3\"/>0% shareholder in the entity<span class=\"_ _3\"/>, <span class=\"_ _3\"/>V<span class=\"_ _3\"/>opak is entitled to appoint one of the three members of the Super<span class=\"_ _5\"/>visor<span class=\"_ _5\"/>y Board and is able to participate in the decision making process of the entity<span class=\"_ _3\"/>.  Ref<span class=\"_ _3\"/>erence is made to note 9.1<span class=\"_ _9\"/>1 for an o<span class=\"_ _7\"/>verview of the principal joint vent<span class=\"_ _7\"/>ures and associates. A<span class=\"_ _1e\"> </span><span class=\"ff3 fs9\">Accounting policies </span>Joint v<span class=\"_ _7\"/>entures and associates are accounted f<span class=\"_ _7\"/>or using the equity method, whic<span class=\"_ _7\"/>h involv<span class=\"_ _7\"/>es recognition in the Consolidated statement of income of <span class=\"_ _3\"/>V<span class=\"_ _3\"/>opak\u2019<span class=\"_ _9\"/>s share of the net result of the joint vent<span class=\"_ _7\"/>ures and associates for the y<span class=\"_ _7\"/>ear<span class=\"_ _3\"/>. A<span class=\"_ _7\"/>ccounting policies of joint vent<span class=\"_ _7\"/>ures and associates hav<span class=\"_ _7\"/>e been aligned where necessar<span class=\"_ _5\"/>y to ensure consistency with the policies adopted by the Group. <span class=\"_ _9\"/>V<span class=\"_ _3\"/>opak\u2019<span class=\"_ _9\"/>s interest in a joint vent<span class=\"_ _7\"/>ure or associate is carried in the statement of financial position at its share in the net assets of the joint venture or associate together with goodwill paid on acquisition, less any impairment loss. <span class=\"_ _9\"/>When the share in the losses ex<span class=\"_ _7\"/>ceeds the carr<span class=\"_ _5\"/>ying amount of an equity-accounted company (including an<span class=\"_ _3\"/>y other receivables f<span class=\"_ _7\"/>orming part of the net inv<span class=\"_ _7\"/>estment in the company), the carrying amount is writ<span class=\"_ _3\"/>ten down to nil and recognition of further losses is discontinued, unless we ha<span class=\"_ _7\"/>ve incurred legal or constructiv<span class=\"_ _7\"/>e obligations relating to the company in question. Gr<span class=\"_ _7\"/>oup\u2019<span class=\"_ _9\"/>s share of the t<span class=\"_ _7\"/>otal compr<span class=\"_ _7\"/>ehensive income and the car<span class=\"_ _3\"/>rying amount of joint ventur<span class=\"_ _3\"/>es and associates Joint v<span class=\"_ _7\"/>entures <span class=\"_ _27b\"> </span>Associates <span class=\"_ _27c\"> </span>T<span class=\"_ _8\"/>otal In EUR millions <span class=\"_ _1a7\"> </span><span class=\"fs7 fc0\">2022 <span class=\"_ _1b2\"> </span><span class=\"fc7\">2021 <span class=\"_ _7f\"> </span></span>2022 <span class=\"_ _1b2\"> </span><span class=\"fc7\">2021 <span class=\"_ _1b2\"> </span></span>2022 <span class=\"_ _7f\"> </span><span class=\"fc7\">2021 </span></span>V<span class=\"_ _3\"/>opak's share in net assets <span class=\"_ _27d\"> </span>1,098.2 <span class=\"_ _1bb\"> </span>887<span class=\"_ _1\"/>.4 <span class=\"_ _18a\"> </span>406.9 <span class=\"_ _19c\"> </span>347<span class=\"_ _1\"/>.9 <span class=\"_ _4d\"> </span>1,505.1 <span class=\"_ _4d\"> </span>1,235.3 Goodwill on acquisition <span class=\"_ _27e\"> </span>67<span class=\"_ _1\"/>.3 <span class=\"_ _2f\"> </span>7<span class=\"_ _9\"/>4.2 <span class=\"_ _66\"> </span>1<span class=\"_ _3\"/>0.9 <span class=\"_ _db\"> </span>9.9 <span class=\"_ _45\"> </span>78.2 <span class=\"_ _45\"> </span>84.1 Car<span class=\"_ _7\"/>rying amount at 31 December <span class=\"_ _27f\"> </span><span class=\"fc0\">1,165.5 <span class=\"_ _131\"> </span></span>961<span class=\"_ _3\"/>.6 <span class=\"_ _18a\"> </span>417<span class=\"_ _8\"/>.8 <span class=\"_ _e6\"> </span><span class=\"fcb\">357<span class=\"_ _8\"/>.8 <span class=\"_ _19b\"> </span><span class=\"fc0\">1,583.3 <span class=\"_ _118\"> </span></span>1,319.4 </span>Share in profit or loss <span class=\"_ _280\"> </span><span class=\"ff3 fc13\">2.7 <span class=\"_ _49\"> </span></span>1<span class=\"_ _7\"/>39.2 <span class=\"_ _7e\"> </span>1<span class=\"_ _7\"/>56.6 <span class=\"_ _45\"> </span>55.5 <span class=\"_ _45\"> </span>59.2 <span class=\"_ _18a\"> </span>194.7 <span class=\"_ _18a\"> </span>21<span class=\"_ _7\"/>5.8 Impairments <span class=\"_ _281\"> </span>2.7<span class=\"_ _8\"/>, 3.8 <span class=\"_ _86\"> </span><span class=\"ff1 fc1\">\u2013 <span class=\"_ _e6\"> </span>- 43.5 <span class=\"_ _18a\"> </span>- 36.2 <span class=\"_ _130\"> </span>\u2013 <span class=\"_ _e6\"> </span>- 36.2 <span class=\"_ _18a\"> </span>- 43.5 </span>Re<span class=\"_ _7\"/>versal of impairments <span class=\"_ _1f4\"> </span>2.7<span class=\"_ _1\"/>, 3.8 <span class=\"_ _5a\"> </span><span class=\"ff1 fc1\">3.8 <span class=\"_ _130\"> </span>\u2013 <span class=\"_ _130\"> </span>\u2013 <span class=\"_ _130\"> </span>\u2013 <span class=\"_ _1bc\"> </span>3.8 <span class=\"_ _130\"> </span>\u2013 </span>Net profit 143.0 <span class=\"_ _4f\"> </span>1<span class=\"_ _9\"/>13.1 <span class=\"_ _b1\"> </span>19.3 <span class=\"_ _51\"> </span>59.2 <span class=\"_ _53\"> </span>162.3 <span class=\"_ _53\"> </span>172.3 Other comprehensive income <span class=\"_ _1d1\"> </span><span class=\"ff3 fc13\">5.2 <span class=\"_ _3f\"> </span></span>46.6 <span class=\"_ _100\"> </span>9.7 <span class=\"_ _45\"> </span>22.0 <span class=\"_ _189\"> </span>1<span class=\"_ _7\"/>0.5 <span class=\"_ _45\"> </span>68.6 <span class=\"_ _45\"> </span>20.2 Comprehensiv<span class=\"_ _7\"/>e income 189.6 <span class=\"_ _190\"> </span>122.8 <span class=\"_ _83\"> </span>41<span class=\"_ _3\"/>.3 <span class=\"_ _b1\"> </span>69.7 <span class=\"_ _53\"> </span>230.9 <span class=\"_ _53\"> </span>1<span class=\"_ _7\"/>92.5 Dividends received <span class=\"_ _270\"> </span><span class=\"ff3 fc13\">2.9 <span class=\"_ _190\"> </span></span>- 1<span class=\"_ _7\"/>62.5 <span class=\"_ _7f\"> </span>- 91<span class=\"_ _9\"/>.9 <span class=\"_ _7f\"> </span>- 61<span class=\"_ _9\"/>.3 <span class=\"_ _e6\"> </span>- 42.7 <span class=\"_ _31\"> </span>- 223.8 <span class=\"_ _8d\"> </span>- 1<span class=\"_ _7\"/>34.6 Inv<span class=\"_ _7\"/>estments <span class=\"_ _282\"> </span>34.7 <span class=\"_ _7e\"> </span>1<span class=\"_ _3\"/>04.3 <span class=\"_ _130\"> </span>\u2013 <span class=\"_ _db\"> </span>5.7 <span class=\"_ _45\"> </span>34.7 <span class=\"_ _1bb\"> </span>1<span class=\"_ _9\"/>1<span class=\"_ _7\"/>0.0 Acquisitions <span class=\"_ _283\"> </span>1<span class=\"_ _7\"/>86.1 <span class=\"_ _130\"> </span>\u2013 <span class=\"_ _45\"> </span>40.2 <span class=\"_ _130\"> </span>\u2013 <span class=\"_ _e6\"> </span>226.3 <span class=\"_ _130\"> </span>\u2013 Redemption share capital <span class=\"_ _284\"> </span>\u2013 <span class=\"_ _130\"> </span>\u2013 <span class=\"_ _45\"> </span>- 5.0 <span class=\"_ _130\"> </span>\u2013 <span class=\"_ _45\"> </span>- 5.0 <span class=\"_ _183\"> </span>\u2013 T<span class=\"_ _9\"/>ransfers due to c<span class=\"_ _3\"/>hange in ownership <span class=\"_ _285\"> </span>1<span class=\"_ _9\"/>.3 <span class=\"_ _183\"> </span>\u2013 <span class=\"_ _130\"> </span>\u2013 <span class=\"_ _108\"> </span>- 7<span class=\"_ _d\"/>.7 <span class=\"_ _8b\"> </span>1<span class=\"_ _9\"/>.3 <span class=\"_ _88\"> </span>- 7<span class=\"_ _1\"/>.7 Other <span class=\"_ _286\"> </span>0.1 <span class=\"_ _45\"> </span>- 0.4 <span class=\"_ _130\"> </span>\u2013 <span class=\"_ _db\"> </span>0.1 <span class=\"_ _db\"> </span>0.1 <span class=\"_ _45\"> </span>- 0.3 Exc<span class=\"_ _3\"/>hange diff<span class=\"_ _3\"/>erences <span class=\"_ _287\"> </span>21<span class=\"_ _9\"/>.7 <span class=\"_ _45\"> </span>69.1 <span class=\"_ _1bc\"> </span>8.3 <span class=\"_ _45\"> </span>34.9 <span class=\"_ _189\"> </span>30.0 <span class=\"_ _7e\"> </span>1<span class=\"_ _3\"/>04.0 Car<span class=\"_ _7\"/>rying amount at 31 December <span class=\"_ _27f\"> </span><span class=\"fc0\">1,436.5 <span class=\"_ _19b\"> </span></span>1,165.5 <span class=\"_ _131\"> </span>441<span class=\"_ _7\"/>.3 <span class=\"_ _18a\"> </span>417<span class=\"_ _1\"/>.8 <span class=\"_ _15a\"> </span><span class=\"fc0\">1,877<span class=\"_ _1\"/>.8 <span class=\"_ _118\"> </span><span class=\"fcb\">1,583.3 </span></span>V<span class=\"_ _3\"/>opak's share in net assets <span class=\"_ _27d\"> </span>1,273.1 <span class=\"_ _4d\"> </span>1,098.2 <span class=\"_ _e6\"> </span>424.3 <span class=\"_ _18a\"> </span>406.9 <span class=\"_ _f9\"> </span>1,697<span class=\"_ _d\"/>.4 <span class=\"_ _4d\"> </span>1,505.1 Goodwill on acquisition <span class=\"_ _288\"> </span>1<span class=\"_ _7\"/>63.4 <span class=\"_ _88\"> </span>67<span class=\"_ _1\"/>.3 <span class=\"_ _3f\"> </span>1<span class=\"_ _7\"/>7<span class=\"_ _1\"/>.0 <span class=\"_ _66\"> </span>1<span class=\"_ _3\"/>0.9 <span class=\"_ _7e\"> </span>180.4 <span class=\"_ _45\"> </span>78.2 Car<span class=\"_ _7\"/>rying amount at 31 December <span class=\"_ _27f\"> </span><span class=\"fc0\">1,436.5 <span class=\"_ _19b\"> </span></span>1,165.5 <span class=\"_ _131\"> </span>441<span class=\"_ _7\"/>.3 <span class=\"_ _18a\"> </span>417<span class=\"_ _1\"/>.8 <span class=\"_ _15a\"> </span><span class=\"fc0\">1,877<span class=\"_ _1\"/>.8 <span class=\"_ _118\"> </span><span class=\"fcb\">1,583.3 </span></span>Other comprehensive income is primarily related to the ef<span class=\"_ _3\"/>f<span class=\"_ _7\"/>ective portion of c<span class=\"_ _3\"/>hanges in the fair v<span class=\"_ _7\"/>alue of cash flow hedges within the joint v<span class=\"_ _7\"/>entures, whic<span class=\"_ _3\"/>h are recognized through the statement of comprehensive income. F<span class=\"_ _7\"/>or more information on the impairments recogniz<span class=\"_ _7\"/>ed on the inv<span class=\"_ _7\"/>estments in joint vent<span class=\"_ _7\"/>ures and associates, ref<span class=\"_ _7\"/>erence is made to note 3.8. Inv<span class=\"_ _7\"/>estments and divestments of joint v<span class=\"_ _7\"/>entur<span class=\"_ _3\"/>es and associates 2022 Aegis <span class=\"_ _8\"/>V<span class=\"_ _9\"/>opak <span class=\"_ _8\"/>T<span class=\"_ _8\"/>er<span class=\"_ _7\"/>minals Ltd. and Hindustan <span class=\"_ _9\"/>Aegis LPG Ltd.<span class=\"_ _7\"/> - acquisition <span class=\"ff1\"> </span>On 25 May 2022, <span class=\"_ _9\"/>V<span class=\"_ _3\"/>opak acquired a 49% shareholding in the A<span class=\"_ _3\"/>egis <span class=\"_ _3\"/>V<span class=\"_ _3\"/>opak <span class=\"_ _9\"/>T<span class=\"_ _9\"/>erminals Ltd. entity and a 24% shareholding in the Hindustan A<span class=\"_ _7\"/>egis LPG Ltd. entity<span class=\"_ _3\"/>. <span class=\"_ _9\"/>The successful completion  of the Indian joint vent<span class=\"_ _7\"/>ure with A<span class=\"_ _3\"/>egis, positions <span class=\"_ _3\"/>V<span class=\"_ _3\"/>opak as the largest storage provider f<span class=\"_ _7\"/>or  LPG and c<span class=\"_ _3\"/>hemicals in India. <span class=\"_ _9\"/>The acquisition date f<span class=\"_ _7\"/>air value of the consideration transf<span class=\"_ _3\"/>erred amounts to EUR 226.3 million, of whic<span class=\"_ _3\"/>h EUR 1<span class=\"_ _3\"/>7<span class=\"_ _9\"/>4.2 million was paid in cash and <span class=\"ls6\"> </span>EUR 52.1 million is contingent upon the occurrence of certain future e<span class=\"_ _7\"/>vents. The conditional pa<span class=\"_ _7\"/>yments depend on meeting (mec<span class=\"_ _3\"/>hanical) completion for certain projects (EUR 32.6 million) and ex<span class=\"_ _7\"/>ceeding certain revenue targets in the period up till 30 September 2025 (EUR 1<span class=\"_ _3\"/>9.5 million). <span class=\"_ _9\"/>The cash outflo<span class=\"_ _7\"/>ws for these pa<span class=\"_ _7\"/>yments are currently expected  in the period 2023-2025 and hav<span class=\"_ _7\"/>e been measured based on their discounted value (8%).  The Group is still w<span class=\"_ _7\"/>orking on the notional purc<span class=\"_ _3\"/>hase price allocation for this joint vent<span class=\"_ _7\"/>ure  and associate, and expects to finaliz<span class=\"_ _7\"/>e this within twelve months af<span class=\"_ _3\"/>ter acquisition date.  In connection with these acquisitions, transaction-related expenses w<span class=\"_ _7\"/>ere incurred for EUR 1<span class=\"_ _8\"/>.2 million. Diize - fr<span class=\"_ _7\"/>om subsidiary to joint v<span class=\"_ _7\"/>entur<span class=\"_ _7\"/>e <span class=\"ff1\"> </span>In December 2022, follo<span class=\"_ _7\"/>wing the partial divestment of 50% of the shareholding in Diiz<span class=\"_ _7\"/>e B.V<span class=\"_ _1\"/>. V<span class=\"_ _3\"/>opak derecognized the assets and liabilities of Diiz<span class=\"_ _7\"/>e B.V<span class=\"_ _1\"/>. and recognized the retained 50% shareholding at EUR 0.1 million. Af<span class=\"_ _3\"/>ter the partial divestment, <span class=\"_ _9\"/>V<span class=\"_ _3\"/>opak holds a 50% equity st<span class=\"_ _5\"/>ake whic<span class=\"_ _3\"/>h classifies as a joint venture. Ger<span class=\"_ _7\"/>man <span class=\"_\"> </span>LNG T<span class=\"_ _8\"/>ermina<span class=\"ws3\">l - div<span class=\"_ _7\"/>estment <span class=\"ff1\"> </span></span>As a result of <span class=\"_ _9\"/>V<span class=\"_ _3\"/>opak\u2019<span class=\"_ _9\"/>s divestment of its 33.3% shareholding in the German LNG <span class=\"_ _9\"/>T<span class=\"_ _8\"/>erminal GmbH, an impairment rev<span class=\"_ _7\"/>ersal of EUR 3.8 million was recorded as an e<span class=\"_ _7\"/>xceptional gain. This re<span class=\"_ _7\"/>versal partially of<span class=\"_ _3\"/>fsets the impairment of EUR 1<span class=\"_ _3\"/>0.8 million recognized in the third quarter of 2021<span class=\"_ _8\"/>. Contingent proceeds dependent on the final inv<span class=\"_ _7\"/>estment decision (FID) of   the project amounted to EUR 8.9 million. A<span class=\"_ _7\"/>s at the reporting date respective conditions were not y<span class=\"_ _7\"/>et met.  Thai T<span class=\"_ _8\"/>ank T<span class=\"_ _8\"/>er<span class=\"_ _7\"/>minal <span class=\"_\"> </span>- <span class=\"_ _a\"> </span>part<span class=\"ws3\">ial divestment <span class=\"ff1\"> </span></span>In December 2022, an ex<span class=\"_ _7\"/>ceptional gain of EUR 5.2 million was recorded related to the dilution of 1<span class=\"_ _3\"/>4% equit<span class=\"_ _5\"/>y stake in <span class=\"_ _9\"/>T<span class=\"_ _7\"/>hai <span class=\"_ _9\"/>T<span class=\"_ _9\"/>ank <span class=\"_ _9\"/>T<span class=\"_ _8\"/>erminal Ltd. located in <span class=\"_ _9\"/>Thailand. <span class=\"_ _7\"/>Af<span class=\"_ _7\"/>ter the dilution V<span class=\"_ _3\"/>opak holds an equity st<span class=\"_ _5\"/>ake of 35% whic<span class=\"_ _3\"/>h continues to be classified as a joint vent<span class=\"_ _7\"/>ure.  2021 Jubail Chemicals Stor<span class=\"_ _7\"/>age and Services Compan<span class=\"_ _3\"/>y - partial divestment <span class=\"ff1\"> </span>In the fourth quarter of 2021 an e<span class=\"_ _7\"/>xceptional loss of EUR 0.7 million w<span class=\"_ _7\"/>as recorded related  to a partial divestment of a 3% equity stake in the terminal Jubail Chemicals Storage and Ser<span class=\"_ _5\"/>vices Company (JCSSC) located in Saudi <span class=\"_ _7\"/>Arabia. Af<span class=\"_ _3\"/>ter the divestment <span class=\"_ _9\"/>V<span class=\"_ _3\"/>opak holds a 22% equity st<span class=\"_ _5\"/>ake in the associate.   Summar<span class=\"_ _7\"/>ized inf<span class=\"_ _7\"/>or<span class=\"_ _3\"/>mation of joint ventur<span class=\"_ _7\"/>es and associates on a 1<span class=\"_ _9\"/>0<span class=\"_ _5\"/>0% basis The f<span class=\"_ _7\"/>ollowing inf<span class=\"_ _7\"/>ormation reflects the amounts presented in the financial statements of the joint vent<span class=\"_ _7\"/>ures and associates adjusted for dif<span class=\"_ _3\"/>f<span class=\"_ _7\"/>erences in accounting policies bet<span class=\"_ _5\"/>w<span class=\"_ _7\"/>een the Group and the joint vent<span class=\"_ _7\"/>ures and associates and, when applicable, the ef<span class=\"_ _3\"/>fects of the purc<span class=\"_ _3\"/>hase price allocation performed by the Group with regard to the acquisition of the joint vent<span class=\"_ _7\"/>ure or associate. Summar<span class=\"_ _3\"/>ized statement of t<span class=\"_ _3\"/>otal comprehensiv<span class=\"_ _7\"/>e income T<span class=\"_ _8\"/>otal joint Asia &amp;   China &amp; New Energ<span class=\"_ _7\"/>y vent<span class=\"_ _7\"/>ures and of whic<span class=\"_ _7\"/>h  joint of whic<span class=\"_ _7\"/>h  Amer<span class=\"_ _7\"/>icas Middle East North Asia <span class=\"_ _26\"> </span>Europe <span class=\"_ _5\"/>&amp; Africa &amp; LNG <span class=\"_ _1bb\"> </span>Other associates vent<span class=\"_ _7\"/>ures associates In EUR millions <span class=\"_ _19e\"> </span>2022 <span class=\"_ _289\"> </span><span class=\"fc7\">2021 <span class=\"_ _289\"> </span></span>2022 <span class=\"_ _289\"> </span><span class=\"fc7\">2021 <span class=\"_ _8f\"> </span></span>2022 <span class=\"_ _289\"> </span><span class=\"fc7\">2021 <span class=\"_ _289\"> </span></span>2022 <span class=\"_ _289\"> </span><span class=\"fc7\">2021 <span class=\"_ _8f\"> </span></span>2022 <span class=\"_ _289\"> </span><span class=\"fc7\">2021 <span class=\"_ _289\"> </span></span>2022 <span class=\"_ _289\"> </span><span class=\"fc7\">2021 <span class=\"_ _8f\"> </span></span>2022 <span class=\"_ _289\"> </span><span class=\"fc7\">2021 <span class=\"_ _289\"> </span></span>2022 <span class=\"_ _8f\"> </span><span class=\"fc7\">2021 <span class=\"_ _289\"> </span></span>2022 <span class=\"_ _289\"> </span>2021Re<span class=\"_ _7\"/>venues <span class=\"_ _e5\"> </span>1<span class=\"_ _7\"/>97<span class=\"_ _1\"/>.3 <span class=\"_ _8e\"> </span>1<span class=\"_ _7\"/>55.6 <span class=\"_ _15b\"> </span>7<span class=\"_ _9\"/>41<span class=\"_ _9\"/>.5 <span class=\"_ _147\"> </span>606.4 <span class=\"_ _8f\"> </span>221<span class=\"_ _8\"/>.3 <span class=\"_ _8e\"> </span>213.8 <span class=\"_ _9d\"> </span>49.6 <span class=\"_ _9d\"> </span>52.0 <span class=\"_ _8e\"> </span>31<span class=\"_ _7\"/>6.1 <span class=\"_ _147\"> </span>303.2 <span class=\"_ _aa\"> </span>1<span class=\"_ _9\"/>.0 <span class=\"_ _d2\"> </span>\u2013 <span class=\"_ _1d\"> </span>1,526.8 <span class=\"_ _13\"> </span>1,331<span class=\"_ _9\"/>.0 <span class=\"_ _147\"> </span><span class=\"ff41\">895.8 <span class=\"_ _8e\"> </span>81<span class=\"_ _7\"/>0.1 <span class=\"_ _8f\"> </span>631<span class=\"_ _8\"/>.0 <span class=\"_ _90\"> </span>520.9 </span>Other income <span class=\"_ _a9\"> </span>40.0 <span class=\"_ _19\"> </span>39.1 <span class=\"_ _22c\"> </span>5.6 <span class=\"_ _233\"> </span>1<span class=\"_ _3\"/>0.7 <span class=\"_ _1b\"> </span>1<span class=\"_ _7\"/>8.7 <span class=\"_ _1b\"> </span>1<span class=\"_ _7\"/>2.0 <span class=\"_ _156\"> </span>1<span class=\"_ _9\"/>.1 <span class=\"_ _9d\"> </span>- 0.2 <span class=\"_ _17\"> </span><span class=\"ls9e wsec\">111.<span class=\"_ _4\"/>5<span class=\"_ _4\"> </span> <span class=\"_ _8e\"> </span></span>1<span class=\"_ _7\"/>55.3 <span class=\"_ _d2\"> </span>\u2013 <span class=\"_ _d2\"> </span>\u2013 <span class=\"_ _8f\"> </span>1<span class=\"_ _3\"/>7<span class=\"_ _7\"/>6.9 <span class=\"_ _8e\"> </span>21<span class=\"_ _7\"/>6.9 <span class=\"_ _9d\"> </span><span class=\"ff41\">56.4 <span class=\"_ _289\"> </span>1<span class=\"_ _3\"/>09.9 <span class=\"_ _8e\"> </span>1<span class=\"_ _7\"/>20.5 <span class=\"_ _15b\"> </span>1<span class=\"_ _3\"/>07<span class=\"_ _8\"/>.0 </span>Operating expenses <span class=\"_ _165\"> </span>- 1<span class=\"_ _7\"/>47<span class=\"_ _1\"/>.9 <span class=\"_ _10a\"> </span>- 1<span class=\"_ _7\"/>23.3 <span class=\"_ _37\"> </span>- 21<span class=\"_ _3\"/>7<span class=\"_ _8\"/>.5 <span class=\"_ _10a\"> </span>- 1<span class=\"_ _3\"/>33.8 <span class=\"_ _90\"> </span>- 73.4 <span class=\"_ _147\"> </span>- 58.3 <span class=\"_ _8e\"> </span>- 1<span class=\"_ _7\"/>9.3 <span class=\"_ _90\"> </span>- 18.5 <span class=\"_ _10a\"> </span>- 1<span class=\"_ _3\"/>09.9 <span class=\"_ _147\"> </span>- 99.9 <span class=\"_ _19\"> </span>- 2.9 <span class=\"_ _9d\"> </span>- 0.9 <span class=\"_ _1dc\"> </span>- 570.9 <span class=\"_ _1dc\"> </span>- 434.7 <span class=\"_ _10a\"> </span><span class=\"ff41\">- 31<span class=\"_ _3\"/>2.5 <span class=\"_ _27a\"> </span>- 27<span class=\"_ _3\"/>6.8 <span class=\"_ _1dc\"> </span>- 258.4 <span class=\"_ _37\"> </span>- 1<span class=\"_ _3\"/>57<span class=\"_ _1\"/>.9 </span>EBITD<span class=\"_ _7\"/>A 89.4 <span class=\"_ _21c\"> </span>71.4 <span class=\"_ _b\"> </span>529.6 <span class=\"_ _b\"> </span>483.3 <span class=\"_ _b\"> </span>166.6 <span class=\"_ _147\"> </span>167<span class=\"_ _8\"/>.5 <span class=\"_ _1a\"> </span>31<span class=\"_ _3\"/>.4 <span class=\"_ _21c\"> </span>33.3 <span class=\"_ _90\"> </span>317<span class=\"_ _1\"/>.7 <span class=\"_ _b\"> </span>358.6 <span class=\"_ _17\"> </span>- 1.9 <span class=\"_ _143\"> </span>- 0.9 <span class=\"_ _192\"> </span>1,132.8 <span class=\"_ _28\"> </span>1,1<span class=\"_ _9\"/>13.2 <span class=\"_ _232\"> </span><span class=\"ff19\">639.7 <span class=\"_ _b\"> </span>643.2 <span class=\"_ _232\"> </span>493.1 <span class=\"_ _b\"> </span>470.0 </span>Depreciation and amortization <span class=\"_ _19c\"> </span>- 28.8 <span class=\"_ _147\"> </span>- 20.4 <span class=\"_ _10a\"> </span>- 1<span class=\"_ _7\"/>95.3 <span class=\"_ _10a\"> </span>- 1<span class=\"_ _3\"/>58.7 <span class=\"_ _8f\"> </span>- 41<span class=\"_ _9\"/>.2 <span class=\"_ _147\"> </span>- 49.4 <span class=\"_ _8e\"> </span>- 1<span class=\"_ _7\"/>3.2 <span class=\"_ _8e\"> </span>- 1<span class=\"_ _7\"/>3.2 <span class=\"_ _147\"> </span>- 80.5 <span class=\"_ _8f\"> </span>- 91<span class=\"_ _9\"/>.4 <span class=\"_ _d2\"> </span>\u2013 <span class=\"_ _d2\"> </span>\u2013 <span class=\"_ _10b\"> </span>- 359.0 <span class=\"_ _1dc\"> </span>- 333.1 <span class=\"_ _10a\"> </span><span class=\"ff41\">- 1<span class=\"_ _7\"/>89.1 <span class=\"_ _37\"> </span>- 1<span class=\"_ _7\"/>87<span class=\"_ _1\"/>.1 <span class=\"_ _10a\"> </span>- 1<span class=\"_ _7\"/>69.9 <span class=\"_ _10a\"> </span>- 1<span class=\"_ _3\"/>46.0 </span>Impairment <span class=\"_ _1a6\"> </span>\u2013 <span class=\"_ _9d\"> </span>- 9.7 <span class=\"_ _d2\"> </span>\u2013 <span class=\"_ _9d\"> </span>- 2.1 <span class=\"_ _d2\"> </span>\u2013 <span class=\"_ _19\"> </span>- 0.5 <span class=\"_ _d2\"> </span>\u2013 <span class=\"_ _d2\"> </span>\u2013 <span class=\"_ _147\"> </span>- 80.9 <span class=\"_ _147\"> </span>- 29.0 <span class=\"_ _d2\"> </span>\u2013 <span class=\"_ _d2\"> </span>\u2013 <span class=\"_ _90\"> </span>- 80.9 <span class=\"_ _8f\"> </span>- 41<span class=\"_ _9\"/>.3 <span class=\"_ _16\"> </span><span class=\"ff41\">1<span class=\"_ _9\"/>1<span class=\"_ _9\"/>.6 <span class=\"_ _8f\"> </span>- 41<span class=\"_ _9\"/>.2 <span class=\"_ _147\"> </span>- 92.5 <span class=\"_ _9d\"> </span>- 0.1 </span>Operating pr<span class=\"_ _7\"/>ofit (EBIT) 60.6 <span class=\"_ _21c\"> </span>41.3 <span class=\"_ _b\"> </span>334.3 <span class=\"_ _b\"> </span>322.5 <span class=\"_ _b\"> </span>125.4 <span class=\"_ _8f\"> </span>1<span class=\"_ _9\"/>17<span class=\"_ _1\"/>.6 <span class=\"_ _21c\"> </span>18.2 <span class=\"_ _17\"> </span>20.1 <span class=\"_ _b\"> </span>156.3 <span class=\"_ _b\"> </span>238.2 <span class=\"_ _17\"> </span>- 1.9 <span class=\"_ _143\"> </span>- 0.9 <span class=\"_ _b\"> </span>692.9 <span class=\"_ _232\"> </span>738.8 <span class=\"_ _b\"> </span><span class=\"ff19\">462.2 <span class=\"_ _232\"> </span>414.9 <span class=\"_ _b\"> </span>230.7 <span class=\"_ _b\"> </span>323.9 </span>Net finance costs <span class=\"_ _258\"> </span>- 1<span class=\"_ _3\"/>7<span class=\"_ _1\"/>.1 <span class=\"_ _8e\"> </span>- 1<span class=\"_ _7\"/>2.9 <span class=\"_ _147\"> </span>- 78.7 <span class=\"_ _142\"> </span>- 47<span class=\"_ _1\"/>.6 <span class=\"_ _8e\"> </span>- 1<span class=\"_ _7\"/>0.2 <span class=\"_ _9d\"> </span>- 9.1 <span class=\"_ _19\"> </span>- 4.9 <span class=\"_ _9d\"> </span>- 5.6 <span class=\"_ _90\"> </span>- 70.2 <span class=\"_ _147\"> </span>- 65.5 <span class=\"_ _d2\"> </span>\u2013 <span class=\"_ _d2\"> </span>\u2013 <span class=\"_ _fe\"> </span>- 181<span class=\"_ _9\"/>.1 <span class=\"_ _1dc\"> </span>- 140.7 <span class=\"_ _147\"> </span><span class=\"ff41\">- 78.4 <span class=\"_ _147\"> </span>- 52.3 <span class=\"_ _10a\"> </span>- 1<span class=\"_ _3\"/>02.7 <span class=\"_ _147\"> </span>- 88.4 </span>Income tax <span class=\"_ _28a\"> </span>- 0.1 <span class=\"_ _9d\"> </span>- 0.2 <span class=\"_ _289\"> </span>- 1<span class=\"_ _3\"/>0.1 <span class=\"_ _147\"> </span>- 20.8 <span class=\"_ _90\"> </span>- 25.3 <span class=\"_ _90\"> </span>- 16.6 <span class=\"_ _9d\"> </span>- 2.4 <span class=\"_ _9d\"> </span>- 2.7 <span class=\"_ _147\"> </span>- 34.9 <span class=\"_ _90\"> </span>- 62.1 <span class=\"_ _d2\"> </span>\u2013 <span class=\"_ _d2\"> </span>\u2013 <span class=\"_ _147\"> </span>- 72.8 <span class=\"_ _27a\"> </span>- 1<span class=\"_ _9\"/>02.4 <span class=\"_ _90\"> </span><span class=\"ff41\">- 72.0 <span class=\"_ _147\"> </span>- 78.5 <span class=\"_ _19\"> </span>- 0.8 <span class=\"_ _147\"> </span>- 23.9 </span>Net profit 43.4 <span class=\"_ _17\"> </span>28.2 <span class=\"_ _b\"> </span>245.5 <span class=\"_ _232\"> </span>254.1 <span class=\"_ _17\"> </span>89.9 <span class=\"_ _1a\"> </span>91<span class=\"_ _3\"/>.9 <span class=\"_ _1a\"> </span>1<span class=\"_ _7\"/>0.9 <span class=\"_ _19\"> </span>1<span class=\"_ _9\"/>1<span class=\"_ _7\"/>.8 <span class=\"_ _1a\"> </span>51<span class=\"_ _3\"/>.2 <span class=\"_ _147\"> </span>1<span class=\"_ _3\"/>1<span class=\"_ _3\"/>0.6 <span class=\"_ _21c\"> </span>- 1<span class=\"_ _3\"/>.9 <span class=\"_ _120\"> </span>- 0.9 <span class=\"_ _232\"> </span>439.0 <span class=\"_ _b\"> </span>495.7 <span class=\"_ _147\"> </span><span class=\"ff19\">31<span class=\"_ _9\"/>1.8 <span class=\"_ _b\"> </span>284.1 <span class=\"_ _147\"> </span>127<span class=\"_ _1\"/>.2 <span class=\"_ _147\"> </span>21<span class=\"_ _9\"/>1.6 </span>Other comprehensive income <span class=\"_ _88\"> </span>42.8 <span class=\"_ _b2\"> </span>- 7<span class=\"_ _1\"/>.4 <span class=\"_ _b2\"> </span>87<span class=\"_ _8\"/>.1 <span class=\"_ _9d\"> </span>44.2 <span class=\"_ _d2\"> </span>\u2013 <span class=\"_ _d2\"> </span>\u2013 <span class=\"_ _d2\"> </span>\u2013 <span class=\"_ _d2\"> </span>\u2013 <span class=\"_ _19\"> </span>46.5 <span class=\"_ _9d\"> </span>22.9 <span class=\"_ _d2\"> </span>\u2013 <span class=\"_ _d2\"> </span>\u2013 <span class=\"_ _8f\"> </span>1<span class=\"_ _7\"/>7<span class=\"_ _3\"/>6.4 <span class=\"_ _19\"> </span>59.7 <span class=\"_ _9d\"> </span><span class=\"ff41\">93.5 <span class=\"_ _1b\"> </span>1<span class=\"_ _7\"/>9.9 <span class=\"_ _9d\"> </span>82.9 <span class=\"_ _19\"> </span>39.8 </span>T<span class=\"_ _8\"/>otal comprehensiv<span class=\"_ _7\"/>e income <span class=\"_ _83\"> </span><span class=\"fc0\">86.2 <span class=\"_ _17\"> </span></span>20.8 <span class=\"_ _b\"> </span><span class=\"fc0\">332.6 <span class=\"_ _b\"> </span></span>298.3 <span class=\"_ _21c\"> </span><span class=\"fc0\">89.9 <span class=\"_ _21c\"> </span></span>91<span class=\"_ _7\"/>.9 <span class=\"_ _1a\"> </span>1<span class=\"_ _3\"/>0.9 <span class=\"_ _19\"> </span>1<span class=\"_ _3\"/>1<span class=\"_ _7\"/>.8 <span class=\"_ _19\"> </span>97<span class=\"_ _8\"/>.7 <span class=\"_ _b\"> </span><span class=\"fcb\">133.5 <span class=\"_ _17\"> </span></span>- 1.9 <span class=\"_ _143\"> </span><span class=\"fcb\">- 0.9 <span class=\"_ _b\"> </span></span>615.4 <span class=\"_ _232\"> </span><span class=\"fcb\">555.4 <span class=\"_ _b\"> </span></span><span class=\"ff19\">405.3 <span class=\"_ _232\"> </span><span class=\"fcb\">304.0 <span class=\"_ _13c\"> </span></span>21<span class=\"_ _3\"/>0.1 <span class=\"_ _13c\"> </span><span class=\"fcb\">251<span class=\"_ _7\"/>.4 </span></span>V<span class=\"_ _3\"/>opak's share of net profit <span class=\"_ _1ad\"> </span>1<span class=\"_ _3\"/>4.5 <span class=\"_ _3a\"> </span>7<span class=\"_ _8\"/>.2 <span class=\"_ _9d\"> </span>79.0 <span class=\"_ _19\"> </span>86.1 <span class=\"_ _9d\"> </span>40.2 <span class=\"_ _19\"> </span>38.9 <span class=\"_ _22c\"> </span>3.0 <span class=\"_ _155\"> </span>4.0 <span class=\"_ _9d\"> </span>26.5 <span class=\"_ _19\"> </span>36.5 <span class=\"_ _9d\"> </span>- 0.9 <span class=\"_ _19\"> </span>- 0.4 <span class=\"_ _90\"> </span>162.3 <span class=\"_ _90\"> </span>1<span class=\"_ _7\"/>72.3 <span class=\"_ _8e\"> </span><span class=\"ff41\">1<span class=\"_ _7\"/>43.0 <span class=\"_ _8f\"> </span>1<span class=\"_ _9\"/>13.1 <span class=\"_ _19\"> </span>1<span class=\"_ _7\"/>9.3 <span class=\"_ _19\"> </span>59.2 </span>V<span class=\"_ _3\"/>opak's share of other comprehensive income <span class=\"_ _5c\"> </span>21<span class=\"_ _8\"/>.4 <span class=\"_ _19\"> </span>- 3.7 <span class=\"_ _9d\"> </span>24.0 <span class=\"_ _1b\"> </span>1<span class=\"_ _7\"/>2.5 <span class=\"_ _d2\"> </span>\u2013 <span class=\"_ _d2\"> </span>\u2013 <span class=\"_ _d2\"> </span>\u2013 <span class=\"_ _d2\"> </span>\u2013 <span class=\"_ _9d\"> </span>23.2 <span class=\"_ _11\"> </span>1<span class=\"_ _9\"/>1<span class=\"_ _9\"/>.4 <span class=\"_ _d2\"> </span>\u2013 <span class=\"_ _d2\"> </span>\u2013 <span class=\"_ _9d\"> </span>68.6 <span class=\"_ _19\"> </span>20.2 <span class=\"_ _9d\"> </span><span class=\"ff41\">46.6 <span class=\"_ _155\"> </span>9.7 <span class=\"_ _9d\"> </span>22.0 <span class=\"_ _1b\"> </span>1<span class=\"_ _7\"/>0.5 </span>V<span class=\"_ _9\"/>opak's share of total comprehensiv<span class=\"_ _7\"/>e income <span class=\"_ _173\"> </span><span class=\"fc0\">35.9 <span class=\"_ _60\"> </span></span>3.5 <span class=\"_ _232\"> </span><span class=\"fc0\">103.0 <span class=\"_ _120\"> </span></span>98.6 <span class=\"_ _17\"> </span><span class=\"fc0\">40.2 <span class=\"_ _21c\"> </span></span>38.9 <span class=\"_ _60\"> </span><span class=\"fc0\">3.0 <span class=\"_ _60\"> </span></span>4.0 <span class=\"_ _17\"> </span><span class=\"fc0\">49.7 <span class=\"_ _19\"> </span></span>47<span class=\"_ _8\"/>.9 <span class=\"_ _120\"> </span><span class=\"fc0\">- 0.9 <span class=\"_ _120\"> </span></span>- 0.4 <span class=\"_ _b\"> </span><span class=\"fc0\">230.9 <span class=\"_ _232\"> </span></span>192.5 <span class=\"_ _232\"> </span><span class=\"ff19 fc0\">189.6 <span class=\"_ _b\"> </span><span class=\"fcb\">122.8 <span class=\"_ _21c\"> </span></span>41.3 <span class=\"_ _120\"> </span><span class=\"fcb\">69.7 </span></span>2022 In Marc<span class=\"_ _3\"/>h 2020, a fire incident took place in the adjacent RAPID facility<span class=\"_ _3\"/>, leading to a subsequent closure of the facility<span class=\"_ _3\"/>. One of PT2SB\u2019<span class=\"_ _9\"/>s anc<span class=\"_ _7\"/>hor customers has since been out of operation. F<span class=\"_ _7\"/>ollowing another incident in 2022, the refinery is only expected to resume first half of 2023. <span class=\"_ _9\"/>T<span class=\"_ _7\"/>he refiner<span class=\"_ _5\"/>y closure weak<span class=\"_ _7\"/>ened its liquidit<span class=\"_ _5\"/>y position whic<span class=\"_ _3\"/>h may impact PT2SB\u2019<span class=\"_ _9\"/>s financial performance in 2023. <span class=\"_ _7\"/>As at 31 December 2022, PT2SB<span class=\"_ _7\"/>, classified as an associate, has reported net accounts receivable balances f<span class=\"_ _7\"/>or contractually deliv<span class=\"_ _7\"/>ered ser<span class=\"_ _5\"/>vices of around EUR 1<span class=\"_ _3\"/>73 million (31 December 2021: EUR 88 million) (on a 1<span class=\"_ _3\"/>00% basis). Mitigating the situation is a priority for PT2SB and its shareholders. 2021 In the third quarter of 2021, an ex<span class=\"_ _7\"/>ceptional gain of EUR 2.2 million was recogniz<span class=\"_ _7\"/>ed in the result of joint vent<span class=\"_ _7\"/>ures and associates relating to a partial release of a tax provision that was recognized in a joint v<span class=\"_ _7\"/>enture terminal within the <span class=\"_ _3\"/>Asia &amp; Middle East division at the end of 20<span class=\"_ _3\"/>1<span class=\"_ _3\"/>9. F<span class=\"_ _7\"/>or more information on the impairments recogniz<span class=\"_ _7\"/>ed on the inv<span class=\"_ _7\"/>estments in joint vent<span class=\"_ _7\"/>ures and associates, ref<span class=\"_ _7\"/>erence is made to note 3.8. Summar<span class=\"_ _3\"/>ized statement of financial position at 31 December T<span class=\"_ _8\"/>otal joint Asia &amp;   China &amp; New Energ<span class=\"_ _7\"/>y vent<span class=\"_ _7\"/>ures and of whic<span class=\"_ _7\"/>h  joint of whic<span class=\"_ _7\"/>h  Amer<span class=\"_ _7\"/>icas Middle East North Asia <span class=\"_ _26\"> </span>Europe <span class=\"_ _5\"/>&amp; Africa &amp; LNG <span class=\"_ _1bb\"> </span>Other associates vent<span class=\"_ _7\"/>ures associates In EUR millions <span class=\"_ _19e\"> </span>2022 <span class=\"_ _289\"> </span><span class=\"fc7\">2021 <span class=\"_ _289\"> </span></span>2022 <span class=\"_ _289\"> </span><span class=\"fc7\">2021 <span class=\"_ _8f\"> </span></span>2022 <span class=\"_ _289\"> </span><span class=\"fc7\">2021 <span class=\"_ _289\"> </span></span>2022 <span class=\"_ _289\"> </span><span class=\"fc7\">2021 <span class=\"_ _8f\"> </span></span>2022 <span class=\"_ _289\"> </span><span class=\"fc7\">2021 <span class=\"_ _289\"> </span></span>2022 <span class=\"_ _289\"> </span><span class=\"fc7\">2021 <span class=\"_ _8f\"> </span></span>2022 <span class=\"_ _289\"> </span><span class=\"fc7\">2021 <span class=\"_ _289\"> </span></span>2022 <span class=\"_ _8f\"> </span><span class=\"fc7\">2021 <span class=\"_ _289\"> </span></span>2022 <span class=\"_ _289\"> </span>2021 Non-current assets <span class=\"_ _165\"> </span>1,205.0 <span class=\"_ _e7\"> </span>1,1<span class=\"_ _7\"/>30.6 <span class=\"_ _e7\"> </span>3,555.8 <span class=\"_ _13\"> </span>2,771<span class=\"_ _9\"/>.0 <span class=\"_ _1dc\"> </span>1,1<span class=\"_ _3\"/>0<span class=\"_ _3\"/>1<span class=\"_ _9\"/>.9 <span class=\"_ _1d\"> </span>1,000.8 <span class=\"_ _90\"> </span>205.4 <span class=\"_ _147\"> </span>209.9 <span class=\"_ _e7\"> </span>1,858.2 <span class=\"_ _e7\"> </span>1,984.8 <span class=\"_ _22c\"> </span>0.5 <span class=\"_ _155\"> </span>0.2 <span class=\"_ _12\"> </span>7<span class=\"_ _8\"/>,926.8 <span class=\"_ _27a\"> </span>7<span class=\"_ _1\"/>,097<span class=\"_ _1\"/>.3 <span class=\"_ _e7\"> </span><span class=\"ff41\">4,683.2 <span class=\"_ _10b\"> </span>3,977<span class=\"_ _1\"/>.2 <span class=\"_ _e7\"> </span>3,243.6 <span class=\"_ _18\"> </span>3,1<span class=\"_ _7\"/>20.1 </span>Cash and cash equivalents <span class=\"_ _161\"> </span>1<span class=\"_ _9\"/>7<span class=\"_ _8\"/>.2 <span class=\"_ _19\"> </span>18.6 <span class=\"_ _147\"> </span>388.0 <span class=\"_ _90\"> </span>319.2 <span class=\"_ _8f\"> </span>1<span class=\"_ _7\"/>91<span class=\"_ _9\"/>.9 <span class=\"_ _90\"> </span>146.2 <span class=\"_ _19\"> </span>1<span class=\"_ _7\"/>0.7 <span class=\"_ _1b\"> </span>1<span class=\"_ _7\"/>0.6 <span class=\"_ _90\"> </span>163.4 <span class=\"_ _90\"> </span>1<span class=\"_ _7\"/>39.4 <span class=\"_ _22c\"> </span>0.5 <span class=\"_ _aa\"> </span>1<span class=\"_ _9\"/>.0 <span class=\"_ _8f\"> </span>771<span class=\"_ _8\"/>.7 <span class=\"_ _90\"> </span>635.0 <span class=\"_ _147\"> </span><span class=\"ff41\">366.7 <span class=\"_ _147\"> </span>308.4 <span class=\"_ _90\"> </span>405.0 <span class=\"_ _147\"> </span>326.6 </span>Other current assets <span class=\"_ _135\"> </span>57<span class=\"_ _d\"/>.9 <span class=\"_ _19\"> </span>50.2 <span class=\"_ _90\"> </span>194.9 <span class=\"_ _147\"> </span>222.8 <span class=\"_ _9d\"> </span>48.9 <span class=\"_ _14\"> </span>51<span class=\"_ _9\"/>.1 <span class=\"_ _1b\"> </span>1<span class=\"_ _3\"/>0.0 <span class=\"_ _11\"> </span>1<span class=\"_ _7\"/>7<span class=\"_ _1\"/>.3 <span class=\"_ _9d\"> </span>85.2 <span class=\"_ _289\"> </span>1<span class=\"_ _3\"/>04.1 <span class=\"_ _155\"> </span>0.6 <span class=\"_ _22c\"> </span>0.9 <span class=\"_ _116\"> </span>397<span class=\"_ _1\"/>.5 <span class=\"_ _90\"> </span>446.4 <span class=\"_ _8e\"> </span><span class=\"ff41\">1<span class=\"_ _7\"/>94.1 <span class=\"_ _90\"> </span>169.1 <span class=\"_ _147\"> </span>203.4 <span class=\"_ _116\"> </span>277<span class=\"_ _1\"/>.3 </span>T<span class=\"_ _8\"/>otal assets 1280.1 <span class=\"_ _192\"> </span>1,199.4 <span class=\"_ _192\"> </span>4,138.7 <span class=\"_ _192\"> </span>3,313.0 <span class=\"_ _192\"> </span>1,342.7 <span class=\"_ _192\"> </span>1,198.1 <span class=\"_ _b\"> </span>226.1 <span class=\"_ _147\"> </span>237<span class=\"_ _8\"/>.8 <span class=\"_ _b3\"> </span>2,1<span class=\"_ _7\"/>06.8 <span class=\"_ _192\"> </span>2,228.3 <span class=\"_ _ad\"> </span>1.6 <span class=\"_ _27\"> </span>2.1 <span class=\"_ _192\"> </span>9,096.0 <span class=\"_ _b3\"> </span>8,1<span class=\"_ _7\"/>78.7 <span class=\"_ _192\"> </span><span class=\"ff19\">5,244.0 <span class=\"_ _192\"> </span>4,454.7 <span class=\"_ _192\"> </span>3,852.0 <span class=\"_ _192\"> </span>3,724.0 </span>Financial non-current liabilities <span class=\"_ _1b2\"> </span>386.7 <span class=\"_ _147\"> </span>363.1 <span class=\"_ _e7\"> </span>1,539.4 <span class=\"_ _15\"> </span>1,47<span class=\"_ _3\"/>6.0 <span class=\"_ _147\"> </span>322.2 <span class=\"_ _8e\"> </span>319.2 <span class=\"_ _147\"> </span>136.0 <span class=\"_ _90\"> </span>1<span class=\"_ _7\"/>49.6 <span class=\"_ _147\"> </span>922.3 <span class=\"_ _90\"> </span>989.3 <span class=\"_ _d2\"> </span>\u2013 <span class=\"_ _d2\"> </span>\u2013 <span class=\"_ _e7\"> </span>3,306.6 <span class=\"_ _12\"> </span>3,297<span class=\"_ _1\"/>.2 <span class=\"_ _e7\"> </span><span class=\"ff41\">1,583.1 <span class=\"_ _e7\"> </span>1,470.7 <span class=\"_ _e7\"> </span>1,723.5 <span class=\"_ _e7\"> </span>1,826.5 </span>Other non-current liabilities <span class=\"_ _161\"> </span>2.3 <span class=\"_ _155\"> </span>9.1 <span class=\"_ _8e\"> </span>1<span class=\"_ _3\"/>08.5 <span class=\"_ _8e\"> </span>154.2 <span class=\"_ _9d\"> </span>28.6 <span class=\"_ _9d\"> </span>25.5 <span class=\"_ _1b\"> </span>1<span class=\"_ _7\"/>2.7 <span class=\"_ _1b\"> </span>1<span class=\"_ _7\"/>3.8 <span class=\"_ _90\"> </span>183.0 <span class=\"_ _147\"> </span>250.8 <span class=\"_ _d2\"> </span>\u2013 <span class=\"_ _d2\"> </span>\u2013 <span class=\"_ _147\"> </span>335.1 <span class=\"_ _147\"> </span>453.4 <span class=\"_ _8e\"> </span><span class=\"ff41\">1<span class=\"_ _7\"/>36.7 <span class=\"_ _147\"> </span>205.4 <span class=\"_ _8e\"> </span>1<span class=\"_ _7\"/>98.4 <span class=\"_ _147\"> </span>248.0 </span>Financial current liabilities <span class=\"_ _f6\"> </span>1<span class=\"_ _7\"/>4.2 <span class=\"_ _19\"> </span>16.6 <span class=\"_ _147\"> </span>484.4 <span class=\"_ _90\"> </span>164.4 <span class=\"_ _233\"> </span>31<span class=\"_ _9\"/>.8 <span class=\"_ _19\"> </span>12.9 <span class=\"_ _19\"> </span>1<span class=\"_ _7\"/>5.6 <span class=\"_ _11\"> </span>1<span class=\"_ _3\"/>7<span class=\"_ _1\"/>.6 <span class=\"_ _8e\"> </span>138.6 <span class=\"_ _90\"> </span>1<span class=\"_ _7\"/>25.6 <span class=\"_ _d2\"> </span>\u2013 <span class=\"_ _d2\"> </span>\u2013 <span class=\"_ _147\"> </span>684.6 <span class=\"_ _116\"> </span>337<span class=\"_ _8\"/>.1 <span class=\"_ _8f\"> </span><span class=\"ff41\">461<span class=\"_ _8\"/>.3 <span class=\"_ _8e\"> </span>150.0 <span class=\"_ _147\"> </span>223.3 <span class=\"_ _116\"> </span>187<span class=\"_ _1\"/>.1 </span>Other current liabilities <span class=\"_ _166\"> </span>46.5 <span class=\"_ _16\"> </span>47<span class=\"_ _1\"/>.8 <span class=\"_ _8e\"> </span>21<span class=\"_ _7\"/>3.4 <span class=\"_ _8e\"> </span>1<span class=\"_ _3\"/>70.6 <span class=\"_ _8e\"> </span>139.1 <span class=\"_ _9d\"> </span>92.9 <span class=\"_ _9d\"> </span>20.5 <span class=\"_ _1b\"> </span>1<span class=\"_ _7\"/>3.9 <span class=\"_ _9d\"> </span>75.7 <span class=\"_ _19\"> </span>62.6 <span class=\"_ _156\"> </span>1<span class=\"_ _9\"/>.0 <span class=\"_ _155\"> </span>0.2 <span class=\"_ _147\"> </span>496.2 <span class=\"_ _147\"> </span>388.0 <span class=\"_ _116\"> </span><span class=\"ff41\">277<span class=\"_ _1\"/>.7 <span class=\"_ _90\"> </span>234.2 <span class=\"_ _90\"> </span>218.5 <span class=\"_ _90\"> </span>1<span class=\"_ _7\"/>53.8 </span>T<span class=\"_ _8\"/>otal liabilities 449.7 <span class=\"_ _b\"> </span>436.6 <span class=\"_ _192\"> </span>2,345.7 <span class=\"_ _192\"> </span>1,965.2 <span class=\"_ _13c\"> </span>521<span class=\"_ _7\"/>.7 <span class=\"_ _b\"> </span>450.5 <span class=\"_ _232\"> </span>184.8 <span class=\"_ _232\"> </span>194.9 <span class=\"_ _192\"> </span>1,319.6 <span class=\"_ _117\"> </span>1,428.3 <span class=\"_ _ad\"> </span>1.0 <span class=\"_ _27\"> </span>0.2 <span class=\"_ _192\"> </span>4,822.5 <span class=\"_ _192\"> </span>4,475.7 <span class=\"_ _192\"> </span><span class=\"ff19\">2,458.8 <span class=\"_ _192\"> </span>2,060.3 <span class=\"_ _192\"> </span>2,363.7 <span class=\"_ _192\"> </span>2,415.4 </span>Net assets <span class=\"_ _28a\"> </span><span class=\"fc0\">830.4 <span class=\"_ _232\"> </span></span>762.8 <span class=\"_ _117\"> </span><span class=\"fc0\">1,793.0 <span class=\"_ _1d\"> </span></span>1,347<span class=\"_ _1\"/>.8 <span class=\"_ _13c\"> </span><span class=\"fc0\">821.0 <span class=\"_ _90\"> </span></span>7<span class=\"_ _3\"/>47<span class=\"_ _8\"/>.6 <span class=\"_ _1a\"> </span>41<span class=\"_ _7\"/>.3 <span class=\"_ _17\"> </span><span class=\"fcb\">42.9 <span class=\"_ _147\"> </span></span>787<span class=\"_ _8\"/>.2 <span class=\"_ _b\"> </span><span class=\"fcb\">80<span class=\"_ _5\"/>0.0 <span class=\"_ _60\"> </span></span>0.6 <span class=\"_ _ad\"> </span>1<span class=\"_ _3\"/>.9 <span class=\"_ _192\"> </span><span class=\"fc0\">4,273.5 <span class=\"_ _192\"> </span></span>3,703.0 <span class=\"_ _192\"> </span><span class=\"ff19 fc0\">2,785.2 <span class=\"_ _192\"> </span><span class=\"fcb\">2,394.4 <span class=\"_ _192\"> </span></span>1,488.3 <span class=\"_ _192\"> </span><span class=\"fcb\">1,308.6 </span></span>V<span class=\"_ _3\"/>opak's share of net assets <span class=\"_ _81\"> </span>289.0 <span class=\"_ _142\"> </span>257<span class=\"_ _1\"/>.9 <span class=\"_ _147\"> </span>623.4 <span class=\"_ _8f\"> </span>481<span class=\"_ _9\"/>.1 <span class=\"_ _147\"> </span>360.3 <span class=\"_ _147\"> </span>336.5 <span class=\"_ _1b\"> </span>1<span class=\"_ _7\"/>9.1 <span class=\"_ _9d\"> </span>20.0 <span class=\"_ _90\"> </span>405.4 <span class=\"_ _147\"> </span>408.7 <span class=\"_ _155\"> </span>0.2 <span class=\"_ _22c\"> </span>0.9 <span class=\"_ _10b\"> </span>1,697<span class=\"_ _d\"/>.4 <span class=\"_ _e7\"> </span>1,505.1 <span class=\"_ _e7\"> </span><span class=\"ff41\">1,273.1 <span class=\"_ _e7\"> </span>1,098.2 <span class=\"_ _147\"> </span>424.3 <span class=\"_ _147\"> </span>406.9 </span>Goodwill on acquisition <span class=\"_ _16d\"> </span>36.6 <span class=\"_ _19\"> </span>34.4 <span class=\"_ _8e\"> </span>1<span class=\"_ _7\"/>05.4 <span class=\"_ _22c\"> </span>5.5 <span class=\"_ _155\"> </span>6.7 <span class=\"_ _22c\"> </span>6.9 <span class=\"_ _d2\"> </span>\u2013 <span class=\"_ _d2\"> </span>\u2013 <span class=\"_ _14\"> </span>31<span class=\"_ _9\"/>.7 <span class=\"_ _14\"> </span>31<span class=\"_ _9\"/>.4 <span class=\"_ _d2\"> </span>\u2013 <span class=\"_ _d2\"> </span>\u2013 <span class=\"_ _90\"> </span>180.4 <span class=\"_ _9d\"> </span>78.2 <span class=\"_ _90\"> </span><span class=\"ff41\">163.4 <span class=\"_ _b2\"> </span>67<span class=\"_ _d\"/>.3 <span class=\"_ _11\"> </span>1<span class=\"_ _7\"/>7<span class=\"_ _1\"/>.0 <span class=\"_ _1b\"> </span>1<span class=\"_ _7\"/>0.9 </span>V<span class=\"_ _9\"/>opak's carrying amount   of net assets <span class=\"_ _18c\"> </span><span class=\"fc0\">325.6 <span class=\"_ _232\"> </span></span>292.3 <span class=\"_ _b\"> </span><span class=\"fc0\">728.8 <span class=\"_ _232\"> </span></span>486.6 <span class=\"_ _147\"> </span>367<span class=\"_ _8\"/>.0 <span class=\"_ _b\"> </span><span class=\"fcb\">343.4 <span class=\"_ _21c\"> </span></span>19.1 <span class=\"_ _17\"> </span><span class=\"fcb\">20.0 <span class=\"_ _147\"> </span></span>437<span class=\"_ _8\"/>.1 <span class=\"_ _b\"> </span><span class=\"fcb\">440.1 <span class=\"_ _60\"> </span></span>0.2 <span class=\"_ _60\"> </span><span class=\"fcb\">0.9 <span class=\"_ _1d\"> </span></span>1,877<span class=\"_ _1\"/>.8 <span class=\"_ _192\"> </span><span class=\"fcb\">1,583.3 <span class=\"_ _192\"> </span></span><span class=\"ff19\">1,436.5 <span class=\"_ _192\"> </span><span class=\"fcb\">1,165.5 <span class=\"_ _13c\"> </span></span>441.3 <span class=\"_ _147\"> </span><span class=\"fcb\">417<span class=\"_ _1\"/>.8 </span></span>2022 Af<span class=\"_ _3\"/>ter completion of the purchase price allocation f<span class=\"_ _3\"/>or the A<span class=\"_ _7\"/>egis <span class=\"_ _3\"/>V<span class=\"_ _3\"/>opak <span class=\"_ _9\"/>T<span class=\"_ _8\"/>erminals Ltd. classified as a joint vent<span class=\"_ _7\"/>ure and Hindustan A<span class=\"_ _3\"/>egis LPG Ltd. classified as an associate, the respective provisionally determined goodwill balances amount to EUR 93.5 million and EUR 6.1 million. 2021 Af<span class=\"_ _3\"/>ter completion of the purchase price allocation f<span class=\"_ _3\"/>or the <span class=\"_ _3\"/>V<span class=\"_ _3\"/>opak Industrial Infrastructure Americas (VIIA) joint vent<span class=\"_ _7\"/>ure in the fourth quarter of 2021, the confirmed goodwill balance amounts to EUR 34.4 million. Contingent assets and liabilities The joint v<span class=\"_ _7\"/>entures and associates of the Group are cur<span class=\"_ _7\"/>rently<span class=\"_ _3\"/>, and may from time to time become, inv<span class=\"_ _7\"/>olved in a number of legal proceedings, including inquiries from, or discussions with, gov<span class=\"_ _7\"/>ernmental authorities (including t<span class=\"_ _5\"/>ax authorities) that are incidental to their operations. F<span class=\"_ _7\"/>or the contingent liabilities of the joint vent<span class=\"_ _7\"/>ures and associates as at year<span class=\"_ _9\"/>-end related to legal cases, it is based on the current f<span class=\"_ _7\"/>acts and circumst<span class=\"_ _5\"/>ances not believ<span class=\"_ _3\"/>ed that they ma<span class=\"_ _7\"/>y hav<span class=\"_ _7\"/>e a material adverse ef<span class=\"_ _3\"/>fect on the financial position or profitability of the Group. Due to inherent uncertainties, the Group cannot make any accurate quantification of an<span class=\"_ _7\"/>y cost, or timing of suc<span class=\"_ _3\"/>h cost, which ma<span class=\"_ _3\"/>y arise from any of the legal proceedings ref<span class=\"_ _7\"/>erred to in this report, how<span class=\"_ _7\"/>ev<span class=\"_ _7\"/>er costs in complex litigation ma<span class=\"_ _7\"/>y be subst<span class=\"_ _5\"/>antial. F<span class=\"_ _7\"/>or an ov<span class=\"_ _7\"/>er<span class=\"_ _5\"/>view of the commitments and contingent liabilities relating to our joint v<span class=\"_ _7\"/>entures and associates, ref<span class=\"_ _7\"/>erence is made to note 9.8. Note 3.6 <span class=\"_ _8\"/>Assets held for sale  A<span class=\"_ _1e\"> </span><span class=\"ff3 fs9\">Accounting policies </span>Non-current assets and disposal groups are classified as held f<span class=\"_ _7\"/>or sale when their carr<span class=\"_ _5\"/>ying amount is to be recov<span class=\"_ _7\"/>ered principally through a sales transaction and a sale is considered highly probable at the end of the reporting period. <span class=\"_ _9\"/>T<span class=\"_ _7\"/>hey are stated at the low<span class=\"_ _7\"/>er value of the carr<span class=\"_ _5\"/>ying amount and the f<span class=\"_ _7\"/>air value less expected selling costs. <span class=\"_ _9\"/>When the criteria for the held for sale classification ha<span class=\"_ _7\"/>ve been met, the non-current assets subject to depreciation and amortization are no longer depreciated or amortized. In addition, equity accounting for joint vent<span class=\"_ _7\"/>ures and associates ceases once classified as held for sale. B<span class=\"ff3 fsc\">Ke<span class=\"_ _7\"/>y accounting estimates and judgments </span>At the end of the reporting period, management has to assess if the value of the assets will be recov<span class=\"_ _7\"/>ered principally through a divestment transaction rather than through continued use and what the likelihood is that an asset will be div<span class=\"_ _7\"/>ested within a year<span class=\"_ _9\"/>. <span class=\"_ _9\"/>This assessment is based on the facts and circumstances at that date. <span class=\"_ _9\"/>These f<span class=\"_ _7\"/>acts and circumstances may c<span class=\"_ _7\"/>hange and could result in a situation where assets are div<span class=\"_ _7\"/>ested, whic<span class=\"_ _7\"/>h were not classified as held f<span class=\"_ _7\"/>or sale at year<span class=\"_ _9\"/>-end.When classifying non-current assets as held for sale, management mak<span class=\"_ _7\"/>es estimates of their fair value (sales price and e<span class=\"_ _7\"/>xpected costs to sell). Depending on the nature of the non-current assets, the estimated fair v<span class=\"_ _7\"/>alue may be associated with uncertainty and possibly adjusted subsequently<span class=\"_ _7\"/>. Measurement of the fair v<span class=\"_ _7\"/>alue of non-current assets is categorized as le<span class=\"_ _7\"/>vel 2 in the f<span class=\"_ _7\"/>air value hierarc<span class=\"_ _7\"/>hy as measurement is not based on observable market data. Assets and liabilities classified as held for sale In EUR millions <span class=\"_ _22d\"> </span><span class=\"fs7 fc0\">31<span class=\"_ _3\"/>-Dec-22 <span class=\"_ _76\"> </span><span class=\"fc7\">31<span class=\"_ _7\"/>-Dec-21 </span></span>Property<span class=\"_ _3\"/>, plant and equipment <span class=\"_ _28b\"> </span>65.2 <span class=\"_ _18a\"> </span>145.7 Other non-current assets <span class=\"_ _21d\"> </span>\u2013 <span class=\"_ _45\"> </span>38.7 Current assets <span class=\"_ _229\"> </span>\u2013 <span class=\"_ _1c3\"> </span>7<span class=\"_ _1\"/>.9 T<span class=\"_ _8\"/>otal assets held for sale 65.2 <span class=\"_ _53\"> </span>192.3 Pro<span class=\"_ _7\"/>visions <span class=\"_ _259\"> </span>\u2013 <span class=\"_ _3f\"> </span>1<span class=\"_ _9\"/>1<span class=\"_ _9\"/>.1 Other non-current liabilities <span class=\"_ _24c\"> </span>38.2 <span class=\"_ _45\"> </span>32.4 Current liabilities <span class=\"_ _1bf\"> </span>\u2013 <span class=\"_ _db\"> </span>6.7 T<span class=\"_ _8\"/>otal liabilities related t<span class=\"_ _7\"/>o assets held for sale 38.2 <span class=\"_ _51\"> </span>50.2 Net assets held for sale of disposal gr<span class=\"_ _7\"/>oups <span class=\"_ _5c\"> </span><span class=\"fc0\">27<span class=\"_ _8\"/>.0 <span class=\"_ _53\"> </span><span class=\"fcb\">142.1 </span></span>F<span class=\"_ _7\"/>or the divestments realiz<span class=\"_ _7\"/>ed during the years presented, ref<span class=\"_ _3\"/>erence is made to note 3.1<span class=\"_ _9\"/>. and note 3.5. 2022 V<span class=\"_ _9\"/>opak P<span class=\"_ _7\"/>acific Canada Project <span class=\"ff1\"> </span>V<span class=\"_ _3\"/>opak Dev<span class=\"_ _7\"/>elopment Canada Inc. continues to advance de<span class=\"_ _7\"/>velopment of the <span class=\"_ _9\"/>V<span class=\"_ _3\"/>opak Pacific Canada Project as a result of third party commercial negotiations, recent regulator<span class=\"_ _5\"/>y approv<span class=\"_ _7\"/>als obtained and execution of a land lease. <span class=\"_ _7\"/>As of 31 December 2022, <span class=\"_ _9\"/>V<span class=\"_ _3\"/>opak Dev<span class=\"_ _7\"/>elopment Canada Inc. has certain capit<span class=\"_ _5\"/>alized de<span class=\"_ _7\"/>velopment costs and right-of-use asset and related lease liability for a land lease. <span class=\"_ _9\"/>T<span class=\"_ _7\"/>hese carr<span class=\"_ _5\"/>ying amounts hav<span class=\"_ _7\"/>e been classified as held for sale. Subject to a variety of factors, a sale transaction is e<span class=\"_ _7\"/>xpected to be closed in 2023. <span class=\"_ _9\"/>T<span class=\"_ _7\"/>hese assets are part of the Americas operating segment. 2021 Aegis V<span class=\"_ _9\"/>opak <span class=\"_ _7\"/><span class=\"ws3\">T<span class=\"_ _8\"/>er<span class=\"_ _7\"/>minals Ltd. <span class=\"ff1\"> </span></span>On 1<span class=\"_ _3\"/>2 July 2021, <span class=\"_ _3\"/>V<span class=\"_ _3\"/>opak announced that it has joined forces with <span class=\"_ _7\"/>A<span class=\"_ _7\"/>egis in India with the aim to grow together in the LPG and c<span class=\"_ _3\"/>hemicals storage and handling business. <span class=\"_ _9\"/>T<span class=\"_ _7\"/>he new joint vent<span class=\"_ _7\"/>ure A<span class=\"_ _3\"/>egis <span class=\"_ _3\"/>V<span class=\"_ _3\"/>opak <span class=\"_ _9\"/>T<span class=\"_ _8\"/>erminals Ltd. will operate a net<span class=\"_ _5\"/>work of 8 terminals with a total capacity of around 960 thousand cbm. <span class=\"_ _9\"/>T<span class=\"_ _7\"/>he transaction is expected to close early 2022, subject to customar<span class=\"_ _5\"/>y closing conditions. Upon closing, <span class=\"_ _3\"/>V<span class=\"_ _3\"/>opak\u2019<span class=\"_ _9\"/>s existing CRL terminal entity in Kandla will become a wholly owned subsidiary of A<span class=\"_ _7\"/>egis <span class=\"_ _9\"/>V<span class=\"_ _3\"/>opak <span class=\"_ _9\"/>T<span class=\"_ _9\"/>erminals Ltd. <span class=\"_ _9\"/>T<span class=\"_ _7\"/>his terminal was identified as held f<span class=\"_ _7\"/>or sale as per 30 June 2021<span class=\"_ _1\"/>. In addition to the net assets of CRL, an amount of EUR 1<span class=\"_ _3\"/>9.3 million of goodwill that can be allocated to the CRL terminal was classified as held for sale. <span class=\"_ _7\"/>At year<span class=\"_ _8\"/>-end the net assets held for sale for the terminal amounted to EUR 37<span class=\"_ _d\"/>.5 million and hav<span class=\"_ _7\"/>e been reported in the A<span class=\"_ _7\"/>sia &amp; Middle East operating segment. Canadian ter<span class=\"_ _3\"/>minals <span class=\"ff1\"> </span>In 2021, <span class=\"_ _3\"/>V<span class=\"_ _9\"/>opak initiated the review of the strategic options f<span class=\"_ _7\"/>or four Canadian terminals located in Hamilton, Montreal East and <span class=\"_ _3\"/>W<span class=\"_ _7\"/>est and Quebec City<span class=\"_ _3\"/>. On 4 Januar<span class=\"_ _5\"/>y 2022, <span class=\"_ _3\"/>V<span class=\"_ _3\"/>opak signed a let<span class=\"_ _3\"/>ter of intent for the sale of 1<span class=\"_ _3\"/>00% of the shares in <span class=\"_ _3\"/>V<span class=\"_ _3\"/>opak <span class=\"_ _9\"/>T<span class=\"_ _9\"/>erminals of Canada Inc. and <span class=\"_ _3\"/>V<span class=\"_ _9\"/>opak <span class=\"_ _9\"/>T<span class=\"_ _9\"/>erminals of Eastern Canada Inc. <span class=\"_ _9\"/>T<span class=\"_ _7\"/>hese terminals were identified as held f<span class=\"_ _7\"/>or sale as per 30 Nov<span class=\"_ _7\"/>ember 2021<span class=\"_ _8\"/>. In addition to the net assets of the four Canadian terminals, an amount of EUR 1<span class=\"_ _3\"/>5.8 million of goodwill that can be allocated to these terminals was classified as held for sale. <span class=\"_ _7\"/>At year<span class=\"_ _8\"/>-end the net assets held for sale for the terminals amounted to EUR 1<span class=\"_ _3\"/>04.6 million and hav<span class=\"_ _7\"/>e been reported in the Americas operating segment. Both transactions closed in the first half-y<span class=\"_ _7\"/>ear of 2022. Note 3.7 Depr<span class=\"_ _3\"/>eciation and amortization A<span class=\"_ _1e\"> </span><span class=\"ff3 fs9\">Accounting policies </span>The e<span class=\"_ _7\"/>xpected useful lif<span class=\"_ _7\"/>e of sof<span class=\"_ _7\"/>tware intangible assets is normally subject to a maximum of sev<span class=\"_ _7\"/>en years. <span class=\"_ _7\"/>Amortization of other intangible assets and licenses is based on the term of the validity of the contract or term of the validity period and varies from 5-30 y<span class=\"_ _7\"/>ears. Depreciation of property<span class=\"_ _3\"/>, plant and equipment is computed from the date the asset is av<span class=\"_ _7\"/>ailable for use, using the straight-line method o<span class=\"_ _7\"/>ver the e<span class=\"_ _7\"/>xpected useful lif<span class=\"_ _7\"/>e and t<span class=\"_ _5\"/>aking the estimated residual value into account. <span class=\"_ _8\"/>The useful lif<span class=\"_ _3\"/>e of the main assets is as follows: \u2022 <span class=\"_ _19f\"> </span><span class=\"fc1\">for buildings 1<span class=\"_ _9\"/>0-40 years </span>\u2022 <span class=\"_ _19f\"> </span><span class=\"fc1\">for main components of tank storage terminals 1<span class=\"_ _3\"/>0-40 years </span>\u2022 <span class=\"_ _19f\"> </span><span class=\"fc1\">for I<span class=\"_ _7\"/>T hardware 3-5 y<span class=\"_ _7\"/>ears </span>\u2022 <span class=\"_ _19f\"> </span><span class=\"fc1\">for mac<span class=\"_ _3\"/>hiner<span class=\"_ _5\"/>y<span class=\"_ _3\"/>, equipment and fixtures 3-1<span class=\"_ _9\"/>0 years.  </span>\u2022 <span class=\"_ _19f\"> </span><span class=\"fc1\">Land is not depreciated.  </span>The residual v<span class=\"_ _7\"/>alue and useful lif<span class=\"_ _7\"/>e of intangible assets and propert<span class=\"_ _5\"/>y<span class=\"_ _3\"/>, plant and equipment are revie<span class=\"_ _7\"/>wed annually and adjusted if necessary<span class=\"_ _3\"/>. F<span class=\"_ _7\"/>or the accounting policies related to the amortization of the right-of-use assets recognized in relation to the leases of the Group, ref<span class=\"_ _7\"/>erence is made to note 3.4. Ke<span class=\"_ _7\"/>y accounting estimates and judgments Useful lif<span class=\"_ _7\"/>e and residual value of property<span class=\"_ _3\"/>, plant and equipment  Property<span class=\"_ _3\"/>, plant and equipment form a substantial part of the total assets of the company<span class=\"_ _3\"/>, while periodic depreciation c<span class=\"_ _7\"/>harges form a substantial part of the annual operating expenses. <span class=\"_ _8\"/>The useful lif<span class=\"_ _7\"/>e and residual value determined by the Ex<span class=\"_ _7\"/>ecutive B<span class=\"_ _7\"/>oard based on its estimates and assumptions hav<span class=\"_ _7\"/>e a major impact on the measurement and determination of results of property<span class=\"_ _7\"/>, plant and equipment. <span class=\"_ _9\"/>The useful lif<span class=\"_ _3\"/>e of propert<span class=\"_ _5\"/>y<span class=\"_ _3\"/>, plant and equipment is partly estimated based on their useful productive liv<span class=\"_ _7\"/>es, experiences related to suc<span class=\"_ _3\"/>h assets, the maintenance histor<span class=\"_ _5\"/>y and the period during whic<span class=\"_ _7\"/>h the company has the economic benefits from the utilization of the assets. Climate c<span class=\"_ _7\"/>hange, including associated legislation, may af<span class=\"_ _3\"/>fect ho<span class=\"_ _7\"/>w<span class=\"_ _3\"/>, or for how long, items of property<span class=\"_ _3\"/>, plant and equipment may be used. How<span class=\"_ _7\"/>ever most climate-related ph<span class=\"_ _7\"/>ysical risks are expected to manif<span class=\"_ _3\"/>est over a term that is generally longer than the mat<span class=\"_ _7\"/>urity of most of the outstanding exposures. P<span class=\"_ _3\"/>eriodic reviews sho<span class=\"_ _7\"/>w whether c<span class=\"_ _7\"/>hanges have occur<span class=\"_ _7\"/>red in estimates and assumptions as a result of whic<span class=\"_ _7\"/>h the useful lif<span class=\"_ _7\"/>e and/or residual value need to be adjusted accordingly<span class=\"_ _3\"/>. Suc<span class=\"_ _7\"/>h an adjustment is made prospectively<span class=\"_ _9\"/>.   F<span class=\"_ _7\"/>or the key accounting estimates and judgments made with regards to the right-of-use assets recognized in relation to the leases of the Group, ref<span class=\"_ _3\"/>erence is made to note 3.4. Depr<span class=\"_ _7\"/>eciation and amortization In EUR millions <span class=\"_ _206\"> </span>Note <span class=\"_ _76\"> </span>2022 <span class=\"_ _76\"> </span>2021 Amortization intangible assets <span class=\"_ _1c9\"> </span><span class=\"ff3 fc13\">3.2 <span class=\"_ _c9\"> </span></span>20.7 <span class=\"_ _140\"> </span>1<span class=\"_ _3\"/>7<span class=\"_ _1\"/>.6 Depreciation owned assets <span class=\"_ _28c\"> </span><span class=\"ff3 fc13\">3.3 <span class=\"_ _f7\"> </span></span>277<span class=\"_ _1\"/>.3 <span class=\"_ _ce\"> </span>27<span class=\"_ _9\"/>4.3 Depreciation right-of-use assets <span class=\"_ _160\"> </span><span class=\"ff3 fc13\">3.4 <span class=\"_ _95\"> </span></span>41<span class=\"_ _8\"/>.9 <span class=\"_ _fb\"> </span>39.9 T<span class=\"_ _8\"/>otal <span class=\"_ _24d\"> </span><span class=\"fc0\">339.9 <span class=\"_ _38\"> </span></span>331<span class=\"_ _7\"/>.8 Note 3.8 Impair<span class=\"_ _3\"/>ment tests and impair<span class=\"_ _3\"/>ments A<span class=\"_ _1e\"> </span><span class=\"ff3 fs9\">Accounting policies </span>The car<span class=\"_ _7\"/>r<span class=\"_ _5\"/>ying amount of goodwill is tested for impairment annually in the fourth quarter (unless there is reason to do so more frequently), while all assets are tested for impairment whenev<span class=\"_ _7\"/>er ev<span class=\"_ _7\"/>ents or c<span class=\"_ _7\"/>hanges in circumstances indicate that the carr<span class=\"_ _5\"/>ying amounts for those assets may not be reco<span class=\"_ _7\"/>verable. If it is determined that assets are impaired, the carrying amounts of those assets are writ<span class=\"_ _3\"/>ten down to their recov<span class=\"_ _7\"/>erable amount, whic<span class=\"_ _7\"/>h is the higher of fair v<span class=\"_ _7\"/>alue less costs of disposal and value in use.  Impairments of a cash-generating unit are allocated to individual assets of the   cash-generating unit on a proportionate basis. Impairments of intangible assets and   property<span class=\"_ _3\"/>, plant and equipment are presented in the st<span class=\"_ _5\"/>atement of income under Impairment. Impairments, ex<span class=\"_ _7\"/>cept those related to goodwill, are rev<span class=\"_ _7\"/>ersed as applicable to the extent   that the ev<span class=\"_ _7\"/>ents or circumstances that triggered the original impairment have c<span class=\"_ _3\"/>hanged.  All financial assets, including joint vent<span class=\"_ _7\"/>ures and associates, are revie<span class=\"_ _7\"/>wed f<span class=\"_ _7\"/>or impairment. If there is objective e<span class=\"_ _7\"/>vidence of impairment as a result of one or more ev<span class=\"_ _7\"/>ents af<span class=\"_ _7\"/>ter initial recognition, an impairment loss is recognized in the statement of income. <span class=\"_ _9\"/>T<span class=\"_ _7\"/>he impairments for joint v<span class=\"_ _7\"/>entures and associates are presented under R<span class=\"_ _7\"/>esult of joint vent<span class=\"_ _7\"/>ures and associates. Ke<span class=\"_ _7\"/>y accounting estimates and judgments Impairment analysis  V<span class=\"_ _3\"/>alue in use is determined as the amount of estimated discounted future cash flows. F<span class=\"_ _3\"/>or this purpose, assets are grouped into cash-generating units based on separately identifiable and largely independent cash flows. <span class=\"_ _8\"/>The cash flow projections are based on re<span class=\"_ _7\"/>venues, operating expenses and sustaining capital expenditures of the appro<span class=\"_ _7\"/>ved budget f<span class=\"_ _7\"/>or the coming year and the two subsequent planning years. Cash flo<span class=\"_ _7\"/>ws beyond the pre<span class=\"_ _7\"/>viously mentioned period of three years are e<span class=\"_ _7\"/>xtrapolated, using a stable or decreasing growth rate, unless an increasing rate can be substantiated. Given that the cash flows are estimated bef<span class=\"_ _7\"/>ore taxes, the discount rates used to calculate the present value of the cash flo<span class=\"_ _7\"/>ws are pre-tax rates based on the risk-free rates for bonds issued by the go<span class=\"_ _7\"/>vernment in the relev<span class=\"_ _7\"/>ant market, adjusted f<span class=\"_ _7\"/>or a risk premium and specific risks relating to the countries and risks specific to the assets. <span class=\"_ _9\"/>The bonds period reflects the   av<span class=\"_ _7\"/>erage remaining useful life of the principal assets. <span class=\"_ _3\"/>As a company based in Europe, the Group assumes the long-term market equity risk premium to be 6.5% (2021: 6.5%).   When performing an impairment test, management mak<span class=\"_ _7\"/>es an assessment of whether the cash-generating unit (mostly an individual terminal) will be able to generate positive net cash flo<span class=\"_ _7\"/>ws that are suf<span class=\"_ _7\"/>ficient to support the value of the intangible assets, property<span class=\"_ _7\"/>, plant and equipment, and financial assets.   F<span class=\"_ _7\"/>or value in use, the assessment is based on estimates of fut<span class=\"_ _7\"/>ure expected cash flows (value in use) made on the basis of the budget f<span class=\"_ _7\"/>or the coming year and two subsequent plan years, whic<span class=\"_ _3\"/>h form the basis for the 1<span class=\"_ _3\"/>5-year period discounted cash flo<span class=\"_ _7\"/>w model. Key assumptions applied are generally: the expected occupancy<span class=\"_ _9\"/>, the estimated storage rate per cbm (for rev<span class=\"_ _7\"/>enues not cov<span class=\"_ _7\"/>ered by long-term contracts), sustaining capex expendit<span class=\"_ _3\"/>ures, expected growth rates and the estimated terminal value af<span class=\"_ _3\"/>ter the 1<span class=\"_ _7\"/>5-year period, together with the applied discount rates.   F<span class=\"_ _7\"/>or value in use of oil assets, the assessment is impacted by the energy transition. In 2022, the cash flow f<span class=\"_ _7\"/>orecast period of suc<span class=\"_ _7\"/>h assets is extended from a 1<span class=\"_ _3\"/>5-year period (whic<span class=\"_ _7\"/>h continues to be used for non-oil terminals) to include the period in whic<span class=\"_ _3\"/>h the energy transition is expected to take place. Ke<span class=\"_ _7\"/>y assumptions applied are generally: the expected occupancy<span class=\"_ _9\"/>, the estimated storage rate per cbm (for re<span class=\"_ _7\"/>venues not cov<span class=\"_ _7\"/>ered by long-term contracts), sustaining capex e<span class=\"_ _7\"/>xpenditures, expected (decreasing) gro<span class=\"_ _7\"/>wth rates based on most recent IEA energy transition scenarios in  a range of -3% and -4% and the estimated terminal value together with the applied discount rates. A<span class=\"_ _7\"/>s there is significant uncertaint<span class=\"_ _5\"/>y on how the energy transition will impact our estimates these remain subject to constant review and monitoring.   Fair v<span class=\"_ _7\"/>alue less cost of disposal is primarily based either on comparable market-multiples and/or (indicative) (non-)binding bids or discounted cash flo<span class=\"_ _7\"/>w models from the perspective of a willing buy<span class=\"_ _7\"/>er in an orderly transaction.   In certain situations, the fair v<span class=\"_ _7\"/>alue less cost of disposal of a terminal may be based on (preliminar<span class=\"_ _5\"/>y) of<span class=\"_ _7\"/>f<span class=\"_ _7\"/>ers received from interested parties (le<span class=\"_ _7\"/>vel 2 fair v<span class=\"_ _7\"/>alue). Although suc<span class=\"_ _3\"/>h off<span class=\"_ _3\"/>ers are conditional/preliminar<span class=\"_ _5\"/>y by nat<span class=\"_ _7\"/>ure, management considers whether these of<span class=\"_ _7\"/>f<span class=\"_ _7\"/>ers may be representative of the fair v<span class=\"_ _7\"/>alue of the terminals concerned and assesses whether it is probable   that these terminals will be sold in the coming twelve months af<span class=\"_ _3\"/>ter the reporting period, resulting in a situation where the car<span class=\"_ _7\"/>r<span class=\"_ _5\"/>ying amount will be recovered principally through a sale instead of through continued use.   These k<span class=\"_ _7\"/>ey assumptions are based on the current f<span class=\"_ _7\"/>acts and circumstances and information av<span class=\"_ _7\"/>ailable to management. By nature, these assumptions are subject to de<span class=\"_ _7\"/>velopments and c<span class=\"_ _3\"/>hange in later periods. <span class=\"_ _9\"/>This could potentially lead to (re<span class=\"_ _7\"/>versal of) impairments of individual terminals going for<span class=\"_ _5\"/>ward. Impair<span class=\"_ _3\"/>ment test r<span class=\"_ _7\"/>esults In EUR millions <span class=\"_ _206\"> </span>Note <span class=\"_ _76\"> </span>2022 <span class=\"_ _76\"> </span>2021Intangible assets <span class=\"_ _58\"> </span><span class=\"ff3 fc13\">3.2 <span class=\"_ _d0\"> </span></span>0.2 <span class=\"_ _fb\"> </span>15.9 Property<span class=\"_ _3\"/>, plant and equipment - owned assets <span class=\"_ _ef\"> </span><span class=\"ff3 fc13\">3.3 <span class=\"_ _bd\"> </span></span>448.6 <span class=\"_ _fb\"> </span>55.1 Impair<span class=\"_ _7\"/>ment 448.8 <span class=\"_ _c2\"> </span>71.0 Joint v<span class=\"_ _7\"/>entures and associates <span class=\"_ _212\"> </span><span class=\"ff3 fc13\">3.5 <span class=\"_ _c9\"> </span></span>36.2 <span class=\"_ _55\"> </span>\u2013 Re<span class=\"_ _7\"/>versal impairment joint vent<span class=\"_ _7\"/>ures and associates <span class=\"_ _146\"> </span><span class=\"ff3 fc13\">3.5 <span class=\"_ _c9\"> </span></span>- 3.8 <span class=\"_ _55\"> </span>\u2013 T<span class=\"_ _8\"/>otal <span class=\"_ _28d\"> </span><span class=\"fc0\">481<span class=\"_ _7\"/>.2 <span class=\"_ _c2\"> </span><span class=\"fcb\">71.0 </span></span>Intangible assets - Goodwill A summar<span class=\"_ _5\"/>y of the carr<span class=\"_ _5\"/>ying amount of goodwill b<span class=\"_ _7\"/>y geographical area, whic<span class=\"_ _7\"/>h is equal to the operating segments, is presented below<span class=\"_ _9\"/>. An operating segment is also the le<span class=\"_ _7\"/>vel at whic<span class=\"_ _3\"/>h goodwill is tested for impairment. In EUR millions <span class=\"_ _12a\"> </span>2022 <span class=\"_ _7f\"> </span>2021China &amp; North A<span class=\"_ _7\"/>sia <span class=\"_ _28e\"> </span>4.7 <span class=\"_ _db\"> </span>4.4 Europe &amp; Africa <span class=\"_ _20c\"> </span><span class=\"ws3\">1<span class=\"_ _9\"/>.8 <span class=\"_ _113\"> </span>1<span class=\"_ _9\"/>.8 </span>Car<span class=\"_ _7\"/>rying amount at 31 December <span class=\"_ _28c\"> </span><span class=\"fc0\">6.5 <span class=\"_ _41\"> </span></span>6.2 The Group has limited goodwill balances as it mostly de<span class=\"_ _7\"/>velops its o<span class=\"_ _7\"/>wn greenfield terminals instead of acquiring new subsidiary terminals. At 31 December 2021, the goodwill carrying amounts of the operating segments Americas and <span class=\"_ _3\"/>Asia &amp; Middle East hav<span class=\"_ _7\"/>e been presented as held for sale. No impairments of goodwill were recogniz<span class=\"_ _7\"/>ed in 2022 and 2021<span class=\"_ _8\"/>. Assumptions applied The reco<span class=\"_ _7\"/>verable v<span class=\"_ _7\"/>alue of an operating segment, whic<span class=\"_ _7\"/>h includes goodwill, is based on the value in use. In the impairment tests, the gro<span class=\"_ _7\"/>wth factors f<span class=\"_ _7\"/>or years f<span class=\"_ _7\"/>our through fif<span class=\"_ _7\"/>teen were based on the inflation rate within the range of 1<span class=\"_ _8\"/>.95% to 2.25% depending on the operating segment (2021: 1<span class=\"_ _8\"/>.5% to 2.5%). <span class=\"_ _9\"/>The pre-tax discount rate used depends on the (av<span class=\"_ _3\"/>erage) risk profile of the cash-generating unit and was 1<span class=\"_ _8\"/>1<span class=\"_ _8\"/>.1% (2021: 1<span class=\"_ _3\"/>0.7%) for China &amp; North A<span class=\"_ _7\"/>sia. <span class=\"_ _9\"/>T<span class=\"_ _7\"/>he operating profit included in the calculations is based on the approv<span class=\"_ _7\"/>ed budget for 2023 and the subsequent plan years. Sensitivity The v<span class=\"_ _7\"/>alue in use calculations indicated more than suf<span class=\"_ _7\"/>ficient headroom, suc<span class=\"_ _3\"/>h that a reasonably possible c<span class=\"_ _3\"/>hange in key assumptions w<span class=\"_ _7\"/>ould not result in an impairment of the related goodwill.  Other intangible assets 2022 No material impairments were recogniz<span class=\"_ _7\"/>ed in other intangible assets in 2022 relating to individual projects and/or assets.   2021 No material impairments were recogniz<span class=\"_ _7\"/>ed in other intangible assets in 2021 relating to individual projects and/or assets. <span class=\"_ _9\"/>T<span class=\"_ _7\"/>he net impairment of EUR 1<span class=\"_ _7\"/>5.9 million was recogniz<span class=\"_ _7\"/>ed in connection with the impairment of the cash generating unit in P<span class=\"_ _7\"/>anama. For more inf<span class=\"_ _3\"/>ormation ref<span class=\"_ _7\"/>erence is made to the paragraph on the Property<span class=\"_ _3\"/>, plant and equipment later in this note.  Proper<span class=\"_ _3\"/>ty<span class=\"_ _3\"/>, plant and equipment  The discount rates used in calculating assets<span class=\"_ _3\"/>\u2019 value in use are reassessed annually<span class=\"_ _9\"/>. <span class=\"_ _9\"/>The pre-tax discount rates used for the value in use assessment of impaired cash-generating units ranged from 6.5% to 1<span class=\"_ _3\"/>2.1% (2021: 9% to 9.2%) reflecting the current market assessments for the rele<span class=\"_ _7\"/>vant geographical locations. <span class=\"_ _9\"/>V<span class=\"_ _3\"/>opak\u2019<span class=\"_ _9\"/>s share of the recoverable amount of the impaired cash-generating units in total is EUR 858 million (2021: EUR 21<span class=\"_ _3\"/>0 million). Cancelled projects 2022 Business development pr<span class=\"_ _7\"/>oject Belgium (impair<span class=\"_ _7\"/>ment) <span class=\"ff1\"> </span>A business dev<span class=\"_ _7\"/>elopment project for the B<span class=\"_ _7\"/>elgium terminal Eurotank has been impaired in the first half of 2022 follo<span class=\"_ _7\"/>wing <span class=\"_ _3\"/>V<span class=\"_ _3\"/>opak\u2019<span class=\"_ _9\"/>s decision to discontinue the project. <span class=\"_ _9\"/>The impairment f<span class=\"_ _3\"/>or this project amounted to EUR 1<span class=\"_ _8\"/>.7 million or EUR 1<span class=\"_ _8\"/>.3 million net of income t<span class=\"_ _5\"/>axes. 2021 There w<span class=\"_ _7\"/>ere no material impairments related to cancelled projects in 2021<span class=\"_ _8\"/>. T<span class=\"_ _8\"/>er<span class=\"_ _7\"/>minals in operation Based on consistently applied methodology<span class=\"_ _9\"/>, management has assessed that the value in usefor a v<span class=\"_ _7\"/>er<span class=\"_ _5\"/>y limited number of terminals in operation, is low<span class=\"_ _7\"/>er than the carr<span class=\"_ _5\"/>ying amount. F<span class=\"_ _7\"/>or these individual terminals, also the fair v<span class=\"_ _7\"/>alue less cost of disposal has been considered in order to assess whether this value e<span class=\"_ _7\"/>xceeds the v<span class=\"_ _7\"/>alue in use and the carr<span class=\"_ _5\"/>ying amount of the assets. In suc<span class=\"_ _3\"/>h situations, the fair v<span class=\"_ _7\"/>alue less cost of disposal for terminals or assets whic<span class=\"_ _3\"/>h are actively being mark<span class=\"_ _7\"/>eted by the compan<span class=\"_ _7\"/>y<span class=\"_ _3\"/>, may be based primarily on of<span class=\"_ _3\"/>fers receiv<span class=\"_ _3\"/>ed from interested parties (lev<span class=\"_ _7\"/>el 2 fair v<span class=\"_ _7\"/>alue). The v<span class=\"_ _7\"/>alue in use assessments may c<span class=\"_ _3\"/>hange ov<span class=\"_ _7\"/>er time, among others due to c<span class=\"_ _7\"/>hanges in the business environment and/or outcome of decisions taken b<span class=\"_ _7\"/>y management, and when applicable could result in (rev<span class=\"_ _7\"/>ersal of) impairment. F<span class=\"_ _7\"/>or impaired cash-generated units recov<span class=\"_ _7\"/>erable amount resulted from the value-in-use calculation ex<span class=\"_ _7\"/>ceeded the estimated fair v<span class=\"_ _7\"/>alue less cost of disposal. 2022 Europoor<span class=\"_ _7\"/>t ter<span class=\"_ _3\"/>minals in the Nether<span class=\"_ _7\"/>lands (impairment) <span class=\"ff1\"> </span>In the first half year of 2022, f<span class=\"_ _7\"/>or the cash-generating unit Europoort, an impairment of EUR 240 million was recogniz<span class=\"_ _7\"/>ed. By accelerating into new energies and repurposing some of its assets, the terminal will reduce its capacity by 2030 and will use the av<span class=\"_ _7\"/>ailable land for new energy in<span class=\"_ _7\"/>vestments. O<span class=\"_ _7\"/>ver time, this will reduce <span class=\"_ _9\"/>V<span class=\"_ _3\"/>opak\u2019<span class=\"_ _3\"/>s exposure in oil assets in line with our ambition to increase the relative e<span class=\"_ _7\"/>xposure of industrials, gas and new energies. T<span class=\"_ _9\"/>ransition in the energy mark<span class=\"_ _7\"/>ets is expected to impact the long-term rev<span class=\"_ _3\"/>enue prospects of Europoort, in addition to current dynamics related to inflation pressure, utility prices, labor and material costs. <span class=\"_ _9\"/>T<span class=\"_ _7\"/>he combined impact of these items, caused the CGU\u2019<span class=\"_ _9\"/>s carr<span class=\"_ _5\"/>ying amount to ex<span class=\"_ _7\"/>ceed its recov<span class=\"_ _7\"/>erable amount leading to an impairment. Botlek ter<span class=\"_ _3\"/>minals in the Netherlands (impair<span class=\"_ _3\"/>ment) <span class=\"ff1\"> </span>In the first half year of 2022, an impairment of EUR 1<span class=\"_ _3\"/>90 million was recorded f<span class=\"_ _7\"/>or the   cash-generating unit Botlek. <span class=\"_ _8\"/>The B<span class=\"_ _7\"/>otlek CGU is performing belo<span class=\"_ _7\"/>w <span class=\"_ _3\"/>V<span class=\"_ _3\"/>opak\u2019<span class=\"_ _9\"/>s minimum return lev<span class=\"_ _7\"/>els whic<span class=\"_ _3\"/>h is driven by lo<span class=\"_ _7\"/>wer re<span class=\"_ _7\"/>venue projections in addition to c<span class=\"_ _3\"/>hallenging conditions related to among others inflation pressure, utility prices and labor costs. V<span class=\"_ _9\"/>opak Colombia ter<span class=\"_ _3\"/>minals in Colombia (impairment) <span class=\"ff1\"> </span>In the fourth quarter of 2022, an impairment of EUR 1<span class=\"_ _9\"/>7<span class=\"_ _d\"/>.1 million was recorded f<span class=\"_ _7\"/>or the cash-generating unit. <span class=\"_ _9\"/>T<span class=\"_ _7\"/>he decrease in recov<span class=\"_ _7\"/>erable value is primarily related to the business environment in whic<span class=\"_ _3\"/>h the terminals currently operate and forecasted competition. 2021 V<span class=\"_ _9\"/>opak Bahia las Minas ter<span class=\"_ _3\"/>minal in Panama (impair<span class=\"_ _3\"/>ment) <span class=\"ff1\"> </span>In the fourth quarter of 2020, an impairment w<span class=\"_ _7\"/>as recognized f<span class=\"_ _7\"/>or the <span class=\"_ _3\"/>V<span class=\"_ _3\"/>opak Bahia las Minas terminal in P<span class=\"_ _7\"/>anama for an amount of EUR 42.9 million. <span class=\"_ _8\"/>The impairment is primarily related to the business environment in whic<span class=\"_ _3\"/>h the terminal currently operates. Slow progress with of<span class=\"_ _7\"/>fshore bunkering opport<span class=\"_ _3\"/>unities is limiting the demand and the growth potential of the Atlantic bunker mark<span class=\"_ _7\"/>et in Panama. In the first half year of 2021, an incremental impairment was recogniz<span class=\"_ _7\"/>ed for the <span class=\"_ _9\"/>V<span class=\"_ _3\"/>opak Bahia las Minas terminal in P<span class=\"_ _3\"/>anama for the amount of EUR 71<span class=\"_ _8\"/>.0 million. <span class=\"_ _9\"/>This impairment is the result of a further deteriorating business environment and lo<span class=\"_ _7\"/>wer occupancy rates. Joint v<span class=\"_ _7\"/>entur<span class=\"_ _7\"/>es and associates 2022 Ger<span class=\"_ _7\"/>man LNG <span class=\"_ _8\"/>T<span class=\"_ _8\"/>er<span class=\"_ _7\"/>minal in Ger<span class=\"_ _7\"/>man<span class=\"_ _7\"/>y (partial impair<span class=\"_ _3\"/>ment reversal) <span class=\"ff1\"> </span>In the first half year of 2022, as a result of <span class=\"_ _9\"/>V<span class=\"_ _3\"/>opak\u2019<span class=\"_ _9\"/>s divestment of its 33.3% shareholding in the German LNG <span class=\"_ _9\"/>T<span class=\"_ _8\"/>erminal GmbH, in the first half of 2022 an impairment reversal of EUR 3.8 million was recorded. <span class=\"_ _8\"/>This re<span class=\"_ _7\"/>versal partially of<span class=\"_ _3\"/>fsets the impairment of EUR 1<span class=\"_ _3\"/>0.8 million recognized in the third quarter of 2021<span class=\"_ _1\"/>. <span class=\"_ _9\"/>This impairment re<span class=\"_ _7\"/>versal is recorded as part of the Result of joint v<span class=\"_ _7\"/>entures and associates.  SPEC LNG ter<span class=\"_ _3\"/>minal in Colombia (impairment) <span class=\"ff1\"> </span>In the second quarter of 2022, an impairment was recogniz<span class=\"_ _7\"/>ed for the SPEC LNG terminal in Colombia for an amount of EUR 36.2 million. Mainly due to unusual w<span class=\"_ _7\"/>eather conditions in recent years whic<span class=\"_ _3\"/>h hav<span class=\"_ _7\"/>e brought a significant amount of rain in Colombia, hy<span class=\"_ _7\"/>dropow<span class=\"_ _7\"/>er has been av<span class=\"_ _7\"/>ailable as the main source of pow<span class=\"_ _7\"/>er<span class=\"_ _3\"/>, whic<span class=\"_ _7\"/>h resulted in a reduced utilization of the FSRU<span class=\"_ _7\"/>. In addition, the tight FSRU mark<span class=\"_ _7\"/>et associated with the Russia-Ukraine w<span class=\"_ _7\"/>ar is leading to the opportunity to reduce FSRU costs becoming remote. <span class=\"_ _3\"/>As a result of the abov<span class=\"_ _7\"/>e there is a decrease in dividend expectations. <span class=\"_ _9\"/>T<span class=\"_ _7\"/>his impairment is recorded as part of the Result of joint vent<span class=\"_ _7\"/>ures and associates. 2021 Ger<span class=\"_ _7\"/>man LNG <span class=\"_ _8\"/>T<span class=\"_ _8\"/>er<span class=\"_ _7\"/>minal in Ger<span class=\"_ _7\"/>man<span class=\"_ _7\"/>y (impair<span class=\"_ _7\"/>ment<span class=\"ff1\">)   </span>Af<span class=\"_ _3\"/>ter a strategic review<span class=\"_ _9\"/>, <span class=\"_ _3\"/>V<span class=\"_ _3\"/>opak decided to discontinue its active participation in the German LNG project leading to an ex<span class=\"_ _7\"/>ceptional loss of EUR 1<span class=\"_ _3\"/>0.8 million recognized in the third quarter of 2021<span class=\"_ _8\"/>.  LNG T<span class=\"_ _8\"/>er<span class=\"_ _7\"/>minal <span class=\"_ _4\"/>Altamira<span class=\"ws3\"> (impair<span class=\"_ _3\"/>ment)<span class=\"ff1\">   </span></span>Due to a new commercial agreement in place f<span class=\"_ _7\"/>or our LNG <span class=\"_ _9\"/>T<span class=\"_ _8\"/>erminal Altamira in Mexico the major assets in this joint vent<span class=\"_ _7\"/>ure are held under a finance lease arrangement. <span class=\"_ _7\"/>As a result, the carr<span class=\"_ _5\"/>ying amount of the joint v<span class=\"_ _7\"/>enture increased significantly and e<span class=\"_ _7\"/>xceeded its recov<span class=\"_ _3\"/>erable amount resulting in the derecognition of the goodwill balance for an amount of EUR 32.7 million. <span class=\"_ _9\"/>T<span class=\"_ _7\"/>he ov<span class=\"_ _7\"/>erall positive result from this transaction recogniz<span class=\"_ _7\"/>ed in the fourth quarter of 2021 amounts to EUR 2.8 million. Section 4 <span class=\"_ _8\"/>W<span class=\"_ _3\"/>orking capit<span class=\"_ _5\"/>al This section presents details on the working capital items that the Group uses for operating our assets and providing services to our customers. In line with the nature of the business, the net working capital is only a relatively small part of the total assets of the Group. This section comprises notes to understand the dev<span class=\"_ _7\"/>elopments in working capital: \u2022 <span class=\"_ _19f\"> </span><span class=\"fc1\">4.1 Changes in working capital </span>\u2022 <span class=\"_ _19f\"> </span><span class=\"fc1\">4.2 <span class=\"_ _9\"/>T<span class=\"_ _8\"/>rade and other receivables and related credit risk </span>\u2022 <span class=\"_ _19f\"> </span><span class=\"fc1\">4.3 <span class=\"_ _9\"/>T<span class=\"_ _8\"/>rade and other payables </span>Note 4.1 Chang<span class=\"_ _3\"/>es in wor<span class=\"_ _3\"/>king capital In EUR millions <span class=\"_ _206\"> </span>Note <span class=\"_ _76\"> </span>2022 <span class=\"_ _76\"> </span>2021Mov<span class=\"_ _7\"/>ements in other current assets (ex<span class=\"_ _7\"/>cluding cash and cash equivalents) <span class=\"_ _241\"> </span><span class=\"ff3 fc13\">2.9 <span class=\"_ _fb\"> </span></span>- 1<span class=\"_ _7\"/>7<span class=\"_ _1\"/>.5 <span class=\"_ _fb\"> </span>43.8 Mov<span class=\"_ _7\"/>ements in other current liabilities (ex<span class=\"_ _7\"/>cluding bank overdraf<span class=\"_ _3\"/>ts and dividends) <span class=\"_ _127\"> </span><span class=\"ff3 fc13\">2.9 <span class=\"_ _2e\"> </span></span>1<span class=\"_ _7\"/>6.9 <span class=\"_ _bd\"> </span>- 1<span class=\"_ _3\"/>7<span class=\"_ _1\"/>.8 T<span class=\"_ _8\"/>otal <span class=\"_ _3b\"> </span><span class=\"fc0\">- 0.6 <span class=\"_ _c2\"> </span></span>26.0 Note 4.2 <span class=\"_ _d\"/>T<span class=\"_ _d\"/>rade and other r<span class=\"_ _7\"/>eceiv<span class=\"_ _7\"/>ables and r<span class=\"_ _7\"/>elated cr<span class=\"_ _3\"/>edit risk T<span class=\"_ _9\"/>rade and other receiv<span class=\"_ _7\"/>ables are exposed to credit risk whic<span class=\"_ _3\"/>h could result in impairment losses. <span class=\"_ _9\"/>T<span class=\"_ _7\"/>his note includes general information about trade and other receiv<span class=\"_ _7\"/>ables as well as specifications and explanations of the related risk. A<span class=\"_ _1e\"> </span><span class=\"ff3 fs9\">Accounting policies </span>T<span class=\"_ _9\"/>rade receiv<span class=\"_ _7\"/>ables are amounts due from customers for ser<span class=\"_ _5\"/>vices rendered in the ordinar<span class=\"_ _5\"/>y course of business. <span class=\"_ _9\"/>T<span class=\"_ _8\"/>rade and other receivables are recognized initially at f<span class=\"_ _7\"/>air value. <span class=\"_ _8\"/>The Group holds trade receivables with the objectiv<span class=\"_ _7\"/>e to collect the contractual cash flo<span class=\"_ _7\"/>ws and therefore the Group measures them subsequently at amortiz<span class=\"_ _7\"/>ed cost using the ef<span class=\"_ _7\"/>f<span class=\"_ _7\"/>ective interest method, less any pro<span class=\"_ _7\"/>vision for impairment. <span class=\"_ _8\"/>T<span class=\"_ _9\"/>rade receivables are generally due f<span class=\"_ _7\"/>or set<span class=\"_ _3\"/>tlement within 30 days and theref<span class=\"_ _7\"/>ore are all classified as current. The group applies the simplified approac<span class=\"_ _3\"/>h for measuring e<span class=\"_ _7\"/>xpected credit losses whic<span class=\"_ _7\"/>h uses a lif<span class=\"_ _7\"/>etime expected loss allo<span class=\"_ _7\"/>wance f<span class=\"_ _7\"/>or all trade receivables and contract assets. T<span class=\"_ _9\"/>rade receiv<span class=\"_ _7\"/>ables are writ<span class=\"_ _7\"/>ten of<span class=\"_ _7\"/>f (impaired) when objective e<span class=\"_ _7\"/>vidence indicates that there is no reasonable expectation of recov<span class=\"_ _7\"/>er<span class=\"_ _5\"/>y<span class=\"_ _3\"/>. <span class=\"_ _9\"/>T<span class=\"_ _7\"/>his is based on an individual revie<span class=\"_ _7\"/>w for impairment due to an increase of the credit risk of the customer<span class=\"_ _3\"/>, past due amounts and taking into account any retention right on product stored f<span class=\"_ _7\"/>or this customer<span class=\"_ _3\"/>. The creation and release of a pro<span class=\"_ _7\"/>vision for impaired trade receiv<span class=\"_ _7\"/>ables are recognized under Other operating expenses in the income statement.  Other receivables include among others contract assets f<span class=\"_ _7\"/>or ser<span class=\"_ _5\"/>vices transf<span class=\"_ _7\"/>erred to the customer and the dividend receivables from joint v<span class=\"_ _7\"/>entures and associates f<span class=\"_ _7\"/>or whic<span class=\"_ _3\"/>h the decision about dividend distribution was taken bef<span class=\"_ _7\"/>ore year<span class=\"_ _9\"/>-end. T<span class=\"_ _d\"/>rade and other r<span class=\"_ _7\"/>eceiv<span class=\"_ _7\"/>ables In EUR millions <span class=\"_ _22d\"> </span>31<span class=\"_ _3\"/>-Dec-22 <span class=\"_ _76\"> </span>31<span class=\"_ _7\"/>-Dec-21 T<span class=\"_ _9\"/>rade debtors gross <span class=\"_ _28f\"> </span>1<span class=\"_ _7\"/>29.2 <span class=\"_ _51\"> </span><span class=\"ls9e wsec\">111<span class=\"_ _7\"/>.<span class=\"_ _4\"> </span>2<span class=\"_ _21\"> </span> </span>Pro<span class=\"_ _7\"/>vision for impairment of trade debtors <span class=\"_ _a3\"> </span>- 1<span class=\"_ _8\"/>.0 <span class=\"_ _45\"> </span>- 5.0 T<span class=\"_ _8\"/>rade debtors net 128.2 <span class=\"_ _131\"> </span>1<span class=\"_ _3\"/>06.2 T<span class=\"_ _9\"/>axes receivable <span class=\"_ _1e4\"> </span>38.0 <span class=\"_ _45\"> </span>49.1 Other receivables <span class=\"_ _1f1\"> </span>1<span class=\"_ _3\"/>52.3 <span class=\"_ _7e\"> </span>1<span class=\"_ _7\"/>04.3 T<span class=\"_ _8\"/>otal <span class=\"_ _141\"> </span><span class=\"fc0\">318.5 <span class=\"_ _190\"> </span></span>259.6 The ef<span class=\"_ _3\"/>f<span class=\"_ _7\"/>ect of the recognized e<span class=\"_ _7\"/>xpected credit losses is negligible for both years presented. There w<span class=\"_ _7\"/>as no indication as at the statement of financial position date that these receivables will not be recov<span class=\"_ _7\"/>ered, other than as already provided f<span class=\"_ _7\"/>or<span class=\"_ _3\"/>. <span class=\"_ _9\"/>T<span class=\"_ _7\"/>he Group does not have a significant credit risk exposure on a single customer<span class=\"_ _9\"/>. F<span class=\"_ _7\"/>or more information ref<span class=\"_ _3\"/>erence is also made to note 2.3. T<span class=\"_ _1\"/>rade r<span class=\"_ _7\"/>eceiv<span class=\"_ _7\"/>ables Ag<span class=\"_ _7\"/>eing of trade r<span class=\"_ _3\"/>eceivables 2022 <span class=\"_ _231\"> </span>2021 In EUR millions <span class=\"_ _290\"> </span>Gross <span class=\"_ _19f\"> </span>Pro<span class=\"_ _7\"/>vision <span class=\"_ _20\"> </span>Net <span class=\"_ _1b\"> </span>Gross <span class=\"_ _19f\"> </span>Pro<span class=\"_ _7\"/>vision <span class=\"_ _20\"> </span>NetNot past due <span class=\"_ _c0\"> </span>94.9 <span class=\"_ _228\"> </span>\u2013 <span class=\"_ _bd\"> </span>94.9 <span class=\"_ _22b\"> </span>7<span class=\"_ _3\"/>6.3 <span class=\"_ _228\"> </span>\u2013 <span class=\"_ _20\"> </span>7<span class=\"_ _3\"/>6.3 Past due up to 3 months <span class=\"_ _189\"> </span>30.2 <span class=\"_ _bd\"> </span>- 0.2 <span class=\"_ _19a\"> </span>30.0 <span class=\"_ _bd\"> </span>20.8 <span class=\"_ _228\"> </span>\u2013 <span class=\"_ _bd\"> </span>20.8 Past due 3 to 6 months <span class=\"_ _1b6\"> </span>1<span class=\"_ _9\"/>.3 <span class=\"_ _228\"> </span>\u2013 <span class=\"_ _d9\"> </span>1<span class=\"_ _9\"/>.3 <span class=\"_ _c9\"> </span>4.9 <span class=\"_ _228\"> </span>\u2013 <span class=\"_ _c9\"> </span>4.9 Past due more than 6 months <span class=\"_ _d0\"> </span>2.8 <span class=\"_ _bd\"> </span>- 0.8 <span class=\"_ _1b1\"> </span>2.0 <span class=\"_ _140\"> </span>9.2 <span class=\"_ _bd\"> </span>- 5.0 <span class=\"_ _1b1\"> </span>4.2 T<span class=\"_ _8\"/>otal <span class=\"_ _1b9\"> </span>129.2 <span class=\"_ _ce\"> </span>- 1<span class=\"_ _3\"/>.0 <span class=\"_ _1a2\"> </span>128.2 <span class=\"_ _155\"> </span><span class=\"fcb lsde ws15c\">111<span class=\"_ _5\"/>.<span class=\"_ _4\"/>2<span class=\"_ _4\"/> <span class=\"_ _76\"> </span></span><span class=\"fcb\">- 5.0 <span class=\"_ _27\"> </span>1<span class=\"_ _3\"/>06.2 </span>Pro<span class=\"_ _7\"/>vision for bad debt In EUR millions <span class=\"_ _12a\"> </span>2022 <span class=\"_ _7f\"> </span>2021Balance at 1 January <span class=\"_ _243\"> </span><span class=\"fc0\">- 5.0 <span class=\"_ _49\"> </span></span>- 2.4 Impairments <span class=\"_ _14c\"> </span>- 0.5 <span class=\"_ _45\"> </span>- 4.4 Re<span class=\"_ _7\"/>versal of impairments <span class=\"_ _20d\"> </span>4.8 <span class=\"_ _8b\"> </span>1<span class=\"_ _9\"/>.8 Exc<span class=\"_ _3\"/>hange diff<span class=\"_ _3\"/>erences <span class=\"_ _214\"> </span>- 0.3 <span class=\"_ _130\"> </span>\u2013 Balance at 31 December <span class=\"_ _50\"> </span><span class=\"fc0\">- 1<span class=\"_ _3\"/>.0 <span class=\"_ _49\"> </span><span class=\"fcb\">- 5.0 </span></span>Exposure to bad debts is mostly related to rendering ser<span class=\"_ _5\"/>vices to international manufact<span class=\"_ _7\"/>urers and traders. <span class=\"_ _9\"/>T<span class=\"_ _7\"/>he value of the products stored f<span class=\"_ _7\"/>or these customers usually ex<span class=\"_ _7\"/>ceeds the value of the receivables and <span class=\"_ _9\"/>V<span class=\"_ _3\"/>opak generally has the right of retention. Historically<span class=\"_ _3\"/>, amounts writ<span class=\"_ _3\"/>ten off as uncollectible ha<span class=\"_ _7\"/>ve been v<span class=\"_ _7\"/>er<span class=\"_ _5\"/>y low<span class=\"_ _9\"/>, in line with the  nature of the business model, whic<span class=\"_ _3\"/>h is also the case for the y<span class=\"_ _7\"/>ears presented. Also the macro-economic and geopolitical uncertaint<span class=\"_ _5\"/>y did not result in a material increase  in the provision f<span class=\"_ _7\"/>or bad debt as no material increase in the credit risk of the accounts receivable portf<span class=\"_ _7\"/>olio was observed, despite the fact that the monitoring of the credit risk  of our customers was further intensified in connection with the pandemic. Other r<span class=\"_ _7\"/>eceiv<span class=\"_ _7\"/>ables The total dividend receivable from joint v<span class=\"_ _7\"/>entures and associates amounted to EUR 1<span class=\"_ _3\"/>6.1 million at the end of 2022 (2021: EUR 1<span class=\"_ _9\"/>.3 million). Other receiv<span class=\"_ _7\"/>ables balance of 2022 includes EUR 56.9 million def<span class=\"_ _7\"/>erred consideration of the divestment of our Canadian terminals. <span class=\"_ _9\"/>T<span class=\"_ _7\"/>here were no material amounts o<span class=\"_ _7\"/>verdue nor impaired f<span class=\"_ _7\"/>or the other items included in the Other receivables. Note 4.3 <span class=\"_ _d\"/>T<span class=\"_ _d\"/>rade and other pay<span class=\"_ _3\"/>ables A<span class=\"_ _1e\"> </span><span class=\"ff3 fs9\">Accounting policies </span>T<span class=\"_ _9\"/>rade and other pa<span class=\"_ _7\"/>yables represent liabilities for goods and services provided by suppliers to the Group prior to the end of the financial year whic<span class=\"_ _3\"/>h are unpaid. <span class=\"_ _9\"/>T<span class=\"_ _7\"/>hese are presented as current liabilities unless pa<span class=\"_ _7\"/>yment is not due within 1<span class=\"_ _7\"/>2 months af<span class=\"_ _7\"/>ter the reporting period. T<span class=\"_ _9\"/>rade and other pa<span class=\"_ _7\"/>yables are initially recognized at their f<span class=\"_ _3\"/>air value and subsequently measured at amortized cost using the ef<span class=\"_ _3\"/>f<span class=\"_ _7\"/>ective interest method. T<span class=\"_ _d\"/>rade and other pay<span class=\"_ _3\"/>ables In EUR millions <span class=\"_ _22d\"> </span>31<span class=\"_ _3\"/>-Dec-22 <span class=\"_ _76\"> </span>31<span class=\"_ _7\"/>-Dec-21 T<span class=\"_ _9\"/>rade payables <span class=\"_ _e2\"> </span>77<span class=\"_ _d\"/>.1 <span class=\"_ _45\"> </span>70.1 Accr<span class=\"_ _7\"/>ued expenses <span class=\"_ _254\"> </span>1<span class=\"_ _9\"/>1<span class=\"_ _3\"/>0.6 <span class=\"_ _46\"> </span>1<span class=\"_ _7\"/>07<span class=\"_ _1\"/>.3 Def<span class=\"_ _7\"/>erred rev<span class=\"_ _7\"/>enues <span class=\"_ _291\"> </span>24.0 <span class=\"_ _45\"> </span>32.0 Accr<span class=\"_ _7\"/>ued interest expenses <span class=\"_ _292\"> </span>6.9 <span class=\"_ _db\"> </span>4.0 W<span class=\"_ _7\"/>age tax and social securit<span class=\"_ _5\"/>y c<span class=\"_ _7\"/>harges <span class=\"_ _a4\"> </span>6.6 <span class=\"_ _db\"> </span>6.7 Other creditors <span class=\"_ _123\"> </span>92.2 <span class=\"_ _1bb\"> </span>1<span class=\"_ _9\"/>1<span class=\"_ _7\"/>0.0 T<span class=\"_ _8\"/>otal <span class=\"_ _274\"> </span><span class=\"fc0\">31<span class=\"_ _7\"/>7<span class=\"_ _8\"/>.4 <span class=\"_ _53\"> </span><span class=\"fcb\">330.1 </span></span>Section 5 Capit<span class=\"_ _5\"/>al str<span class=\"_ _3\"/>ucture V<span class=\"_ _3\"/>opak is a capital-intensive company<span class=\"_ _9\"/>. <span class=\"_ _3\"/>V<span class=\"_ _3\"/>opak\u2019<span class=\"_ _9\"/>s funding strategy is focused on ensuring continuous access to capital markets so that funding capital is available at a time of the company\u2019<span class=\"_ _9\"/>s c<span class=\"_ _3\"/>hoice and at an accept<span class=\"_ _5\"/>able cost. <span class=\"_ _8\"/>The notes in this section provide insight into thecapital struct<span class=\"_ _7\"/>ure and financing items of the Group. In this section, the follo<span class=\"_ _7\"/>wing notes are presented: Equity: \u2022 <span class=\"_ _19f\"> </span><span class=\"fc1\">5.1   Issued capital, share premium, treasur<span class=\"_ _5\"/>y shares and capit<span class=\"_ _5\"/>al management </span>\u2022 <span class=\"_ _19f\"> </span><span class=\"fc1\">5.2   Other reser<span class=\"_ _5\"/>ves </span>\u2022 <span class=\"_ _19f\"> </span><span class=\"fc1\">5.3   Retained earnings </span>\u2022 <span class=\"_ _19f\"> </span><span class=\"fc1\">5.4   Non-controlling interests </span>Bor<span class=\"_ _7\"/>ro<span class=\"_ _7\"/>wings: \u2022 <span class=\"_ _19f\"> </span><span class=\"fc1\">5.5   Interest-bearing loans and net debt </span>\u2022 <span class=\"_ _19f\"> </span><span class=\"fc1\">5.6   Net finance costs </span>The financial risk management applied b<span class=\"_ _7\"/>y the Group can be found in Section 6 Financial Risk Management. EQUITY Note 5.1 Issued capital,<span class=\"_ _3\"/> share pr<span class=\"_ _3\"/>emium, tr<span class=\"_ _3\"/>easury shares and capital management A<span class=\"_ _1e\"> </span><span class=\"ff3 fs9\">Accounting policies </span>T<span class=\"_ _9\"/>reasur<span class=\"_ _5\"/>y shares that are reacquired are recogniz<span class=\"_ _7\"/>ed at cost and deducted from equit<span class=\"_ _5\"/>y until the shares are cancelled or reissued. Upon cancellation, treasur<span class=\"_ _5\"/>y shares are deducted from the share capital at their nominal value of EUR 0.50 per share. An<span class=\"_ _7\"/>y dif<span class=\"_ _3\"/>ference between the carr<span class=\"_ _5\"/>ying amount and the consideration receiv<span class=\"_ _7\"/>ed when treasur<span class=\"_ _5\"/>y shares are reissued, is recognized directly in equity<span class=\"_ _3\"/>. Shar<span class=\"_ _7\"/>e capital The compan<span class=\"_ _7\"/>y\u00b4s authorized share capital amounted to EUR 1<span class=\"_ _3\"/>90,80<span class=\"_ _5\"/>0,00<span class=\"_ _5\"/>0 as at 31 December 2022 divided into 1<span class=\"_ _3\"/>40,0<span class=\"_ _5\"/>00,0<span class=\"_ _5\"/>00 ordinar<span class=\"_ _5\"/>y shares, 190,800,00<span class=\"_ _5\"/>0 protective pref<span class=\"_ _7\"/>erence shares and 50,800,0<span class=\"_ _5\"/>00 cumulative finance pref<span class=\"_ _7\"/>erence shares, all with a nominal value of EUR 0.50 eac<span class=\"_ _3\"/>h. The issued share capital at 31 December 2022 consisted of 1<span class=\"_ _3\"/>25,7<span class=\"_ _9\"/>40,586 (2021: 1<span class=\"_ _3\"/>25,7<span class=\"_ _9\"/>40,586) ordinar<span class=\"_ _5\"/>y shares, of whic<span class=\"_ _3\"/>h 324,587 (2021: 392,0<span class=\"_ _3\"/>1<span class=\"_ _7\"/>6) were held in the treasur<span class=\"_ _5\"/>y stoc<span class=\"_ _3\"/>k in connection with existing commitments under the long-term incentiv<span class=\"_ _7\"/>e plans. No cumulative finance pref<span class=\"_ _7\"/>erence shares were issued during the y<span class=\"_ _7\"/>ears presented. Numbers <span class=\"_ _eb\"> </span>Amounts in EUR millions Financing Issued ordinary pref<span class=\"_ _3\"/>erence T<span class=\"_ _8\"/>reasury shar<span class=\"_ _7\"/>es shares shares <span class=\"_ _15b\"> </span>T<span class=\"_ _8\"/>otal shares <span class=\"_ _0\"> </span><span class=\"fc7\">T<span class=\"_ _9\"/>r<span class=\"_ _7\"/>easury shares <span class=\"_ _10b\"> </span>Issued capital <span class=\"_\"> </span>Shar<span class=\"_ _7\"/>e premium </span>reserv<span class=\"_ _7\"/>e Balance at 31 December 2020 <span class=\"_ _61\"> </span>125,7<span class=\"_ _3\"/>40,586 <span class=\"_ _183\"> </span>\u2013 <span class=\"_ _1a\"> </span>125,7<span class=\"_ _7\"/>40,586 <span class=\"_ _c3\"> </span><span class=\"fcb\">- 345,736 <span class=\"_ _51\"> </span>62.9 <span class=\"_ _53\"> </span>194.4 <span class=\"_ _c7\"> </span>- 15.0 </span>Purc<span class=\"_ _3\"/>hase treasur<span class=\"_ _5\"/>y shares <span class=\"_ _293\"> </span>\u2013 <span class=\"_ _130\"> </span>\u2013 <span class=\"_ _183\"> </span>\u2013 <span class=\"_ _118\"> </span>- 91,714 <span class=\"_ _183\"> </span>\u2013 <span class=\"_ _130\"> </span>\u2013 <span class=\"_ _45\"> </span>- 2.9 V<span class=\"_ _3\"/>ested shares under equity-set<span class=\"_ _7\"/>tled share-based payment arrangements <span class=\"_ _cd\"> </span>\u2013 <span class=\"_ _130\"> </span>\u2013 <span class=\"_ _130\"> </span>\u2013 <span class=\"_ _31\"> </span>45,434 <span class=\"_ _130\"> </span>\u2013 <span class=\"_ _130\"> </span>\u2013 <span class=\"_ _db\"> </span>2.2 Balance at 31 December 2021 <span class=\"_ _61\"> </span>125,7<span class=\"_ _3\"/>40,586 <span class=\"_ _183\"> </span>\u2013 <span class=\"_ _1a\"> </span>125,7<span class=\"_ _7\"/>40,586 <span class=\"_ _fb\"> </span><span class=\"fcb\">- 392,0<span class=\"_ _7\"/>16 <span class=\"_ _51\"> </span>62.9 <span class=\"_ _53\"> </span>194.4 <span class=\"_ _c7\"> </span>- 15.7 </span>V<span class=\"_ _3\"/>ested shares under equity-set<span class=\"_ _7\"/>tled share-based payment arrangements <span class=\"_ _cd\"> </span>\u2013 <span class=\"_ _130\"> </span>\u2013 <span class=\"_ _130\"> </span>\u2013 <span class=\"_ _18d\"> </span>67<span class=\"_ _1\"/>,429 <span class=\"_ _130\"> </span>\u2013 <span class=\"_ _130\"> </span>\u2013 <span class=\"_ _db\"> </span>2.8 Balance at 31 December 2022 <span class=\"_ _61\"> </span>125,7<span class=\"_ _3\"/>40,586 <span class=\"_ _183\"> </span>\u2013 <span class=\"_ _1a\"> </span>125,7<span class=\"_ _7\"/>40,586 <span class=\"_ _c3\"> </span><span class=\"fcb\">- 324,587 <span class=\"_ _51\"> </span>62.9 <span class=\"_ _53\"> </span>194.4 <span class=\"_ _c7\"> </span>- 12.9 </span>Capital management V<span class=\"_ _3\"/>opak is a capital-intensive company<span class=\"_ _9\"/>. <span class=\"_ _3\"/>V<span class=\"_ _3\"/>opak\u2019<span class=\"_ _9\"/>s funding strategy is directed at est<span class=\"_ _5\"/>ablishing and maintaining an optimal financing struct<span class=\"_ _7\"/>ure that t<span class=\"_ _5\"/>akes due account of the cur<span class=\"_ _7\"/>rent asset base and the current and fut<span class=\"_ _7\"/>ure inv<span class=\"_ _7\"/>estment programs. <span class=\"_ _3\"/>V<span class=\"_ _3\"/>opak seeks access to capit<span class=\"_ _5\"/>al mark<span class=\"_ _7\"/>ets and flexibility at acceptable terms and conditions, including finance cost. A solid capital struct<span class=\"_ _7\"/>ure supports <span class=\"_ _3\"/>V<span class=\"_ _3\"/>opak\u2019<span class=\"_ _9\"/>s objective to create long-term shareholder value while meeting the agreed financial ratios included in the debt cov<span class=\"_ _7\"/>enants (see note 5.5) and other requirements with its other capital providers. <span class=\"_ _3\"/>V<span class=\"_ _9\"/>opak aims to maint<span class=\"_ _5\"/>ain a healthy financial position through capital-disciplined investment decisions, ef<span class=\"_ _3\"/>f<span class=\"_ _7\"/>ective w<span class=\"_ _7\"/>orking capit<span class=\"_ _5\"/>al management, long-term funding and a balanced dividend policy and is continuously revie<span class=\"_ _7\"/>wing its capital structure options, including but not limited to equity(-linked) or other (debt) capital instruments, to ef<span class=\"_ _3\"/>fectiv<span class=\"_ _7\"/>ely finance the future gro<span class=\"_ _7\"/>wth that <span class=\"_ _3\"/>V<span class=\"_ _3\"/>opak aims for<span class=\"_ _9\"/>. <span class=\"_ _9\"/>The Group works activ<span class=\"_ _7\"/>ely to maintain and further develop the already established diversified funding base, with regard to the number of markets and the number of in<span class=\"_ _7\"/>vestors. Note 5.2 Other r<span class=\"_ _3\"/>eserves Rev<span class=\"_ _7\"/>aluation reserv<span class=\"_ _7\"/>e Rev<span class=\"_ _7\"/>aluation reserv<span class=\"_ _7\"/>e In EUR millions <span class=\"_ _269\"> </span><span class=\"fs7 fc7\">T<span class=\"_ _8\"/>ranslation reserv<span class=\"_ _7\"/>e </span>der<span class=\"_ _7\"/>ivativ<span class=\"_ _7\"/>es financial assets <span class=\"_ _38\"> </span>Other reserv<span class=\"_ _7\"/>es <span class=\"_ _1e\"> </span><span class=\"fc0\">T<span class=\"_ _8\"/>otal other reserv<span class=\"_ _7\"/>es </span>Balance at 31 December 2020 <span class=\"_ _294\"> </span>- 124.0 <span class=\"_ _10d\"> </span>- 1<span class=\"_ _3\"/>15.1 <span class=\"_ _f6\"> </span>16.6 <span class=\"_ _130\"> </span>- 94.5 <span class=\"_ _72\"> </span><span class=\"fc0\">- 31<span class=\"_ _7\"/>7<span class=\"_ _8\"/>.0 </span>Exc<span class=\"_ _3\"/>hange diff<span class=\"_ _3\"/>erences on net investments <span class=\"_ _247\"> </span>167<span class=\"_ _d\"/>.3 <span class=\"_ _179\"> </span>\u2013 <span class=\"_ _121\"> </span>\u2013 <span class=\"_ _179\"> </span>\u2013 <span class=\"_ _199\"> </span>1<span class=\"_ _7\"/>67<span class=\"_ _1\"/>.3 Ef<span class=\"_ _7\"/>fectiv<span class=\"_ _7\"/>e part of hedges of net inv<span class=\"_ _7\"/>estments <span class=\"_ _df\"> </span>- 72.1 <span class=\"_ _179\"> </span>\u2013 <span class=\"_ _121\"> </span>\u2013 <span class=\"_ _179\"> </span>\u2013 <span class=\"_ _86\"> </span>- 72.1 T<span class=\"_ _9\"/>ax eff<span class=\"_ _3\"/>ect on exc<span class=\"_ _3\"/>hange diff<span class=\"_ _7\"/>erences and hedges <span class=\"_ _295\"> </span>- 2.4 <span class=\"_ _121\"> </span>\u2013 <span class=\"_ _179\"> </span>\u2013 <span class=\"_ _179\"> </span>\u2013 <span class=\"_ _3d\"> </span>- 2.4 Use of ex<span class=\"_ _7\"/>c<span class=\"_ _7\"/>hange diff<span class=\"_ _3\"/>erences on net investments (to statement of income) <span class=\"_ _cc\"> </span>0.5 <span class=\"_ _179\"> </span>\u2013 <span class=\"_ _121\"> </span>\u2013 <span class=\"_ _179\"> </span>\u2013 <span class=\"_ _178\"> </span>0.5 Fair v<span class=\"_ _7\"/>alue c<span class=\"_ _7\"/>hange other investments <span class=\"_ _296\"> </span>\u2013 <span class=\"_ _121\"> </span>\u2013 <span class=\"_ _101\"> </span>33.2 <span class=\"_ _121\"> </span>\u2013 <span class=\"_ _84\"> </span>33.2 Mov<span class=\"_ _7\"/>ements in eff<span class=\"_ _3\"/>ective part of cash flow hedges <span class=\"_ _259\"> </span>\u2013 <span class=\"_ _14b\"> </span>- 1<span class=\"_ _9\"/>.2 <span class=\"_ _121\"> </span>\u2013 <span class=\"_ _179\"> </span>\u2013 <span class=\"_ _f2\"> </span>- 1<span class=\"_ _8\"/>.2 T<span class=\"_ _9\"/>ax eff<span class=\"_ _3\"/>ect on movements in cash flow hedges <span class=\"_ _297\"> </span>\u2013 <span class=\"_ _178\"> </span>0.3 <span class=\"_ _179\"> </span>\u2013 <span class=\"_ _179\"> </span>\u2013 <span class=\"_ _178\"> </span>0.3 Use of ef<span class=\"_ _7\"/>fectiv<span class=\"_ _7\"/>e part of cash flow hedges (to statement of income) <span class=\"_ _225\"> </span>\u2013 <span class=\"_ _137\"> </span>1<span class=\"_ _9\"/>.6 <span class=\"_ _121\"> </span>\u2013 <span class=\"_ _179\"> </span>\u2013 <span class=\"_ _198\"> </span>1<span class=\"_ _9\"/>.6 T<span class=\"_ _9\"/>ax eff<span class=\"_ _3\"/>ect on use of cash flow hedges <span class=\"_ _1e5\"> </span>\u2013 <span class=\"_ _178\"> </span>0.1 <span class=\"_ _179\"> </span>\u2013 <span class=\"_ _121\"> </span>\u2013 <span class=\"_ _1be\"> </span>0.1 Mov<span class=\"_ _7\"/>ements in eff<span class=\"_ _3\"/>ective part of cash flow hedges joint v<span class=\"_ _7\"/>entures <span class=\"_ _298\"> </span>\u2013 <span class=\"_ _101\"> </span>1<span class=\"_ _7\"/>9.4 <span class=\"_ _121\"> </span>\u2013 <span class=\"_ _179\"> </span>\u2013 <span class=\"_ _101\"> </span>1<span class=\"_ _7\"/>9.4 Other <span class=\"_ _299\"> </span>\u2013 <span class=\"_ _121\"> </span>\u2013 <span class=\"_ _179\"> </span>\u2013 <span class=\"_ _84\"> </span>- 0.3 <span class=\"_ _84\"> </span>- 0.3 1 Remeasurements of defined benefit plans \u2013 <span class=\"_ _121\"> </span>\u2013 <span class=\"_ _179\"> </span>\u2013 <span class=\"_ _cf\"> </span>1<span class=\"_ _3\"/>7<span class=\"_ _1\"/>.8 <span class=\"_ _8a\"> </span>1<span class=\"_ _9\"/>7<span class=\"_ _8\"/>.8 T<span class=\"_ _9\"/>ax on remeasurements of defined benefit plans <span class=\"_ _29a\"> </span>\u2013 <span class=\"_ _121\"> </span>\u2013 <span class=\"_ _179\"> </span>\u2013 <span class=\"_ _84\"> </span>- 4.2 <span class=\"_ _84\"> </span>- 4.2 Balance at 31 December 2021 <span class=\"_ _296\"> </span>- 30.7 <span class=\"_ _130\"> </span>- 94.9 <span class=\"_ _f6\"> </span>49.8 <span class=\"_ _29b\"> </span>- 81<span class=\"_ _7\"/>.2 <span class=\"_ _52\"> </span><span class=\"fc0\">- 157<span class=\"_ _8\"/>.0 </span>Exc<span class=\"_ _3\"/>hange diff<span class=\"_ _3\"/>erences on net investments <span class=\"_ _150\"> </span>81<span class=\"_ _8\"/>.2 <span class=\"_ _179\"> </span>\u2013 <span class=\"_ _179\"> </span>\u2013 <span class=\"_ _121\"> </span>\u2013 <span class=\"_ _f2\"> </span>81<span class=\"_ _9\"/>.2 Ef<span class=\"_ _7\"/>fectiv<span class=\"_ _7\"/>e part of hedges of net inv<span class=\"_ _7\"/>estments <span class=\"_ _29c\"> </span>- 41<span class=\"_ _9\"/>.5 <span class=\"_ _121\"> </span>\u2013 <span class=\"_ _179\"> </span>\u2013 <span class=\"_ _121\"> </span>\u2013 <span class=\"_ _b6\"> </span>- 41<span class=\"_ _9\"/>.5 Use of ex<span class=\"_ _7\"/>c<span class=\"_ _7\"/>hange diff<span class=\"_ _3\"/>erences on net investments (to statement of income) <span class=\"_ _e8\"> </span>- 3.3 <span class=\"_ _121\"> </span>\u2013 <span class=\"_ _179\"> </span>\u2013 <span class=\"_ _179\"> </span>\u2013 <span class=\"_ _3d\"> </span>- 3.3 Use of ef<span class=\"_ _7\"/>fectiv<span class=\"_ _7\"/>e part of hedges of net inv<span class=\"_ _7\"/>estments (to statement of income) <span class=\"_ _a4\"> </span>2.9 <span class=\"_ _121\"> </span>\u2013 <span class=\"_ _179\"> </span>\u2013 <span class=\"_ _121\"> </span>\u2013 <span class=\"_ _1be\"> </span>2.9 Fair v<span class=\"_ _7\"/>alue c<span class=\"_ _7\"/>hange other investments <span class=\"_ _296\"> </span>\u2013 <span class=\"_ _121\"> </span>\u2013 <span class=\"_ _137\"> </span>1<span class=\"_ _9\"/>.7 <span class=\"_ _121\"> </span>\u2013 <span class=\"_ _137\"> </span>1<span class=\"_ _9\"/>.7 Mov<span class=\"_ _7\"/>ements in eff<span class=\"_ _3\"/>ective part of cash flow hedges <span class=\"_ _259\"> </span>\u2013 <span class=\"_ _84\"> </span>15.3 <span class=\"_ _121\"> </span>\u2013 <span class=\"_ _179\"> </span>\u2013 <span class=\"_ _101\"> </span>1<span class=\"_ _3\"/>5.3 T<span class=\"_ _9\"/>ax eff<span class=\"_ _3\"/>ect on movements in cash flow hedges <span class=\"_ _297\"> </span>\u2013 <span class=\"_ _86\"> </span>- 18.2 <span class=\"_ _121\"> </span>\u2013 <span class=\"_ _179\"> </span>\u2013 <span class=\"_ _86\"> </span>- 18.2 Use of ef<span class=\"_ _7\"/>fectiv<span class=\"_ _7\"/>e part of cash flow hedges (to statement of income) <span class=\"_ _225\"> </span>\u2013 <span class=\"_ _84\"> </span>- 2.2 <span class=\"_ _179\"> </span>\u2013 <span class=\"_ _179\"> </span>\u2013 <span class=\"_ _3d\"> </span>- 2.2 Mov<span class=\"_ _7\"/>ements in eff<span class=\"_ _3\"/>ective part of cash flow hedges joint v<span class=\"_ _7\"/>entures <span class=\"_ _298\"> </span>\u2013 <span class=\"_ _172\"> </span>67<span class=\"_ _1\"/>.8 <span class=\"_ _179\"> </span>\u2013 <span class=\"_ _179\"> </span>\u2013 <span class=\"_ _172\"> </span>67<span class=\"_ _1\"/>.8 Other <span class=\"_ _299\"> </span>\u2013 <span class=\"_ _121\"> </span>\u2013 <span class=\"_ _179\"> </span>\u2013 <span class=\"_ _1be\"> </span>0.7 <span class=\"_ _1be\"> </span>0.7 1 Remeasurements of defined benefit plans \u2013 <span class=\"_ _121\"> </span>\u2013 <span class=\"_ _179\"> </span>\u2013 <span class=\"_ _84\"> </span>28.2 <span class=\"_ _84\"> </span>28.2 T<span class=\"_ _9\"/>ax on remeasurements of defined benefit plans <span class=\"_ _29a\"> </span>\u2013 <span class=\"_ _121\"> </span>\u2013 <span class=\"_ _179\"> </span>\u2013 <span class=\"_ _84\"> </span>- 6.5 <span class=\"_ _84\"> </span>- 6.5 Balance at 31 December 2022 <span class=\"_ _29d\"> </span>8.6 <span class=\"_ _130\"> </span>- 32.2 <span class=\"_ _82\"> </span>51<span class=\"_ _7\"/>.5 <span class=\"_ _130\"> </span>- 58.8 <span class=\"_ _fa\"> </span><span class=\"fc0\">- 30.9 </span>1 <span class=\"_ _b3\"> </span>Remeasurements of defined benefit plans includes defined benefit costs included in other comprehensiv<span class=\"_ _7\"/>e income of joint ventures f<span class=\"_ _7\"/>or EUR -0.1 million (2021: EUR 0.3 million). The translation reserve includes all ex<span class=\"_ _7\"/>c<span class=\"_ _3\"/>hange diff<span class=\"_ _3\"/>erences resulting from the translation of the financial statements of foreign entities. It also includes the ex<span class=\"_ _7\"/>c<span class=\"_ _3\"/>hange diff<span class=\"_ _3\"/>erences on liabilities and the ef<span class=\"_ _7\"/>f<span class=\"_ _7\"/>ective currency component of f<span class=\"_ _3\"/>air value c<span class=\"_ _7\"/>hanges of derivativ<span class=\"_ _7\"/>e financial instruments (net of tax), to the extent that the<span class=\"_ _7\"/>y hedge the net inv<span class=\"_ _7\"/>estments of the Group in foreign entities and hedge accounting is applied. The Group has elected to recogniz<span class=\"_ _7\"/>e c<span class=\"_ _3\"/>hanges in the fair value of specific in<span class=\"_ _7\"/>vestments in equity securities in other comprehensive income. <span class=\"_ _9\"/>T<span class=\"_ _7\"/>hese c<span class=\"_ _7\"/>hanges are accumulated within the Re<span class=\"_ _7\"/>valuation reserve financial assets. Amounts are transf<span class=\"_ _3\"/>erred from this reser<span class=\"_ _5\"/>ve to retained earnings when the equity securities concerned are derecognized. The re<span class=\"_ _7\"/>valuation reserve derivativ<span class=\"_ _7\"/>es contains the eff<span class=\"_ _3\"/>ective part of the accumulated c<span class=\"_ _3\"/>hange in the fair v<span class=\"_ _7\"/>alue of the cash flow hedges, net of tax, in respect of whic<span class=\"_ _3\"/>h the hedged future transaction has not yet taken place. <span class=\"_ _8\"/>The table below pro<span class=\"_ _7\"/>vides an overview of the estimated maturity profile of the rev<span class=\"_ _7\"/>aluation reser<span class=\"_ _5\"/>ve deriv<span class=\"_ _7\"/>atives. In EUR millions <span class=\"_ _162\"> </span>2023 <span class=\"_ _233\"> </span>2024 <span class=\"_ _233\"> </span>2025 <span class=\"_ _1b\"> </span>2026 <span class=\"_ _233\"> </span>2027 <span class=\"_ _bb\"> </span>&gt; 2027 <span class=\"_ _9d\"> </span>T<span class=\"_ _9\"/>oUse of rev<span class=\"_ _7\"/>aluation   reser<span class=\"_ _5\"/>ve deriv<span class=\"_ _7\"/>atives <span class=\"_ _88\"> </span>39.3 <span class=\"_ _22c\"> </span>- 9.0 <span class=\"_ _bd\"> </span>4.2 <span class=\"_ _22c\"> </span>- 2.4 <span class=\"_ _156\"> </span>- 1<span class=\"_ _9\"/>.1 <span class=\"_ _c2\"> </span>1<span class=\"_ _9\"/>.2 <span class=\"_ _22c\"> </span>32.2 Note 5.3 Retained ear<span class=\"_ _3\"/>nings In EUR millions <span class=\"_ _12a\"> </span>2022 <span class=\"_ _7f\"> </span>2021Balance at 1 January <span class=\"_ _29e\"> </span><span class=\"fc0\">3,1<span class=\"_ _3\"/>04.1 <span class=\"_ _19b\"> </span><span class=\"fcb\">3,036.1 </span></span>Dividend paid in cash <span class=\"_ _21e\"> </span>- 1<span class=\"_ _7\"/>56.8 <span class=\"_ _55\"> </span>- 150.5 Measurement of equity-set<span class=\"_ _7\"/>tled share-based payment arrangements <span class=\"_ _72\"> </span>3.3 <span class=\"_ _1c3\"> </span>7<span class=\"_ _1\"/>.8 V<span class=\"_ _3\"/>ested shares under equity-set<span class=\"_ _7\"/>tled share-based payment arrangements <span class=\"_ _129\"> </span>- 5.3 <span class=\"_ _45\"> </span>- 3.5 Net profit / (loss) at<span class=\"_ _7\"/>tributable to owners of parent <span class=\"_ _d5\"> </span>- 168.4 <span class=\"_ _18a\"> </span>21<span class=\"_ _7\"/>4.2 Use of ex<span class=\"_ _7\"/>c<span class=\"_ _7\"/>hange diff<span class=\"_ _3\"/>erences on net investments (to statement of income) <span class=\"_ _29f\"> </span>0.2 <span class=\"_ _130\"> </span>\u2013 1 Other - 5.9 <span class=\"_ _130\"> </span>\u2013 Balance at 31 December <span class=\"_ _25c\"> </span><span class=\"fc0\">2,771<span class=\"_ _3\"/>.2 <span class=\"_ _a5\"> </span><span class=\"fcb\">3,1<span class=\"_ _7\"/>04.1 </span></span>1 <span class=\"_ _b3\"> </span>Derecognition of DT<span class=\"_ _3\"/>A<span class=\"_ _9\"/>\u2019<span class=\"_ _9\"/>s Dutch fiscal unity previously recogniz<span class=\"_ _7\"/>ed in retained earnings Of the reser<span class=\"_ _5\"/>ves, EUR 2,058.1million (2021: EUR 2,273.5 million) can be distributed freely (see note 4 of the Company Financial Statements). <span class=\"_ _9\"/>T<span class=\"_ _7\"/>he actual dividend per ordinary share paid in cash in 2022 was EUR 1<span class=\"_ _1\"/>.25 (2021: EUR 1<span class=\"_ _9\"/>.20). F<span class=\"_ _7\"/>or the proposed dividend per share, ref<span class=\"_ _7\"/>erence is made to the paragraph Profit <span class=\"_ _7\"/>Appropriation. Note 5.4 Non-contr<span class=\"_ _3\"/>olling inter<span class=\"_ _7\"/>ests In EUR millions <span class=\"_ _12a\"> </span><span class=\"fs7 fc0\">2022 <span class=\"_ _7f\"> </span><span class=\"fc7\">2021 </span></span>Balance at 31 December <span class=\"_ _1f2\"> </span><span class=\"fc0\">156.9 <span class=\"_ _53\"> </span></span>144.9 Net profit <span class=\"_ _2a0\"> </span>30.6 <span class=\"_ _45\"> </span>29.0 Dividend paid in cash <span class=\"_ _2a1\"> </span>- 33.1 <span class=\"_ _e6\"> </span>- 25.0 Mov<span class=\"_ _7\"/>ements in eff<span class=\"_ _3\"/>ective part of cash flow hedges <span class=\"_ _1aa\"> </span>- 0.2 <span class=\"_ _88\"> </span>- 1<span class=\"_ _8\"/>.6 Exc<span class=\"_ _3\"/>hange diff<span class=\"_ _3\"/>erences <span class=\"_ _221\"> </span>7<span class=\"_ _d\"/>.4 <span class=\"_ _db\"> </span>9.6 Balance at 31 December <span class=\"_ _2a2\"> </span><span class=\"fc0\">161<span class=\"_ _7\"/>.6 <span class=\"_ _53\"> </span><span class=\"fcb\">156.9 </span></span> The Group has one subsidiary with a material non-controlling interest (NCI). <span class=\"_ _9\"/>The aggregated information of NCI and the inf<span class=\"_ _7\"/>ormation of the material subsidiar<span class=\"_ _5\"/>y is shown in the table below<span class=\"_ _9\"/>. Profit allocat<span class=\"_ _7\"/>ed Dividends paid to NCI   to NCI   Accumulat<span class=\"_ _7\"/>ed NCI NCI % (in EUR millions) (in EUR millions) (in EUR millions) 31<span class=\"_ _3\"/>-Dec-31<span class=\"_ _3\"/>-Dec-2022 <span class=\"_ _142\"> </span><span class=\"fc7\">2021 <span class=\"_ _233\"> </span></span>2022 <span class=\"_ _1b\"> </span><span class=\"fc7\">2021 <span class=\"_ _233\"> </span></span>2022 <span class=\"_ _233\"> </span><span class=\"fc7\">2021 </span>22 21 T<span class=\"_ _8\"/>otal <span class=\"_ _13f\"> </span><span class=\"fs7\">30.6 <span class=\"_ _27\"> </span>29.0 <span class=\"_ _27\"> </span>33.1 <span class=\"_ _27\"> </span>25.0 <span class=\"_ _17\"> </span>161<span class=\"_ _7\"/>.6 <span class=\"_ _1a\"> </span>156.9 </span>of <span class=\"_ _5\"/>which V<span class=\"_ _9\"/>opak T<span class=\"_ _9\"/>erminals Singapore Pte. Ltd. <span class=\"_ _2a3\"> </span>30.5% <span class=\"_ _37\"> </span>30.5% <span class=\"_ _ad\"> </span>25.9 <span class=\"_ _22c\"> </span>25.3 <span class=\"_ _22c\"> </span>26.8 <span class=\"_ _22c\"> </span>24.1 <span class=\"_ _26\"> </span>1<span class=\"_ _3\"/>1<span class=\"_ _3\"/>7<span class=\"_ _1\"/>.1 <span class=\"_ _b2\"> </span>1<span class=\"_ _7\"/>09.9 The summariz<span class=\"_ _7\"/>ed financial information (at 1<span class=\"_ _9\"/>0<span class=\"_ _5\"/>0%) regarding <span class=\"_ _9\"/>V<span class=\"_ _3\"/>opak <span class=\"_ _9\"/>T<span class=\"_ _9\"/>erminals Singapore Pte. Ltd. is as follo<span class=\"_ _3\"/>ws: In EUR millions <span class=\"_ _22d\"> </span><span class=\"fs7 fc0\">31<span class=\"_ _3\"/>-Dec-22 <span class=\"_ _76\"> </span><span class=\"fc7\">31<span class=\"_ _7\"/>-Dec-21 </span></span>T<span class=\"_ _9\"/>otal non-current assets <span class=\"_ _16f\"> </span>823.6 <span class=\"_ _e6\"> </span>778.3 Cash and cash equivalents <span class=\"_ _50\"> </span>6.9 <span class=\"_ _1bc\"> </span>5.5 Other current assets <span class=\"_ _206\"> </span>56.3 <span class=\"_ _45\"> </span>54.1 T<span class=\"_ _8\"/>otal assets 886.8 <span class=\"_ _e6\"> </span>837<span class=\"_ _8\"/>.9 Current liabilities <span class=\"_ _210\"> </span>20<span class=\"_ _3\"/>1<span class=\"_ _9\"/>.3 <span class=\"_ _2f\"> </span>51<span class=\"_ _9\"/>.4 T<span class=\"_ _9\"/>otal non-current liabilities <span class=\"_ _24c\"> </span>318.0 <span class=\"_ _e6\"> </span>442.9 T<span class=\"_ _8\"/>otal liabilities 519.3 <span class=\"_ _190\"> </span>494.3 T<span class=\"_ _8\"/>otal net assets <span class=\"_ _1e4\"> </span><span class=\"fc0\">367<span class=\"_ _1\"/>.5 <span class=\"_ _53\"> </span><span class=\"fcb\">343.6 </span></span>In EUR millions <span class=\"_ _12a\"> </span><span class=\"fs7 fc0\">2022 <span class=\"_ _7f\"> </span><span class=\"fc7\">2021 </span></span>Re<span class=\"_ _7\"/>venues <span class=\"_ _2a4\"> </span>252.6 <span class=\"_ _46\"> </span>21<span class=\"_ _3\"/>7<span class=\"_ _1\"/>.7 Net profit <span class=\"_ _2a0\"> </span>86.5 <span class=\"_ _45\"> </span>83.1 Other comprehensive income <span class=\"_ _177\"> </span>24.9 <span class=\"_ _45\"> </span>22.9 T<span class=\"_ _8\"/>otal comprehensiv<span class=\"_ _7\"/>e income <span class=\"_ _2a5\"> </span><span class=\"fc0 lsde ws15c\">111<span class=\"_ _5\"/>.<span class=\"_ _4\"/>4<span class=\"_ _4\"/> <span class=\"_ _131\"> </span></span>1<span class=\"_ _7\"/>06.0 Operating cash flow <span class=\"_ _209\"> </span>1<span class=\"_ _7\"/>61<span class=\"_ _9\"/>.8 <span class=\"_ _7c\"> </span>1<span class=\"_ _7\"/>27<span class=\"_ _1\"/>.0 Increase/decrease (-) in cash and cash equivalents <span class=\"_ _1a0\"> </span>1<span class=\"_ _9\"/>.4 <span class=\"_ _45\"> </span>- 3.2 BORRO<span class=\"_ _9\"/>WINGS Note 5.5 Int<span class=\"_ _3\"/>erest-bear<span class=\"_ _3\"/>ing loans and net debt A<span class=\"_ _1e\"> </span><span class=\"ff3 fs9\">Accounting policies </span>Interest-bearing loans and borro<span class=\"_ _7\"/>wings are recognized initially at fair v<span class=\"_ _3\"/>alue net of directly at<span class=\"_ _3\"/>tribut<span class=\"_ _5\"/>able transaction costs<span class=\"ws12\">. A</span>f<span class=\"_ _3\"/>ter initial recognition, these items are subsequently measured at amortized costs, applying the ef<span class=\"_ _3\"/>f<span class=\"_ _7\"/>ective interest method unless the interest ratehas been conv<span class=\"_ _7\"/>erted in a hedge relation from fixed into floating b<span class=\"_ _7\"/>y means of a fair v<span class=\"_ _7\"/>alue hedge. In that case, the carr<span class=\"_ _5\"/>ying amount is adjusted f<span class=\"_ _7\"/>or the fair value c<span class=\"_ _3\"/>hanges caused by the hedged risk. Bor<span class=\"_ _7\"/>rowings are remov<span class=\"_ _3\"/>ed from the balance sheet when the obligation specified in the contract is disc<span class=\"_ _3\"/>harged, cancelled or expired. F<span class=\"_ _7\"/>ees paid on the establishment of loan facilities are recognized as transaction costs of the loan to the extent that it is probable that some or all of the f<span class=\"_ _7\"/>acility will be drawn down. In this case, the f<span class=\"_ _7\"/>ee is def<span class=\"_ _7\"/>erred until the draw<span class=\"_ _7\"/>down occurs. <span class=\"_ _8\"/>T<span class=\"_ _9\"/>o the extent there is no e<span class=\"_ _7\"/>vidence that it is probable that some or all of the facility will be drawn do<span class=\"_ _7\"/>wn, the f<span class=\"_ _7\"/>ee is capitalized as pre-payment f<span class=\"_ _7\"/>or liquidity ser<span class=\"_ _5\"/>vices and amortized on a straight-line basis ov<span class=\"_ _7\"/>er the period of the facility to whic<span class=\"_ _3\"/>h it relates. F<span class=\"_ _7\"/>or the accounting policies of the Lease liabilities, ref<span class=\"_ _3\"/>erence is made to note 3.4. (Net) Debt r<span class=\"_ _7\"/>econciliation  Inter<span class=\"_ _7\"/>est-bear<span class=\"_ _7\"/>ing Cash and  cash Short-t<span class=\"_ _7\"/>erm  <span class=\"ws3\"> </span>Inter<span class=\"_ _7\"/>est- <span class=\"_ _15e\"/> Net inter<span class=\"_ _7\"/>est-loans - lease T<span class=\"_ _8\"/>otal inter<span class=\"_ _7\"/>est-1 In EUR millions equiv<span class=\"_ _7\"/>alents bor<span class=\"_ _7\"/>ro<span class=\"_ _7\"/>wings bear<span class=\"_ _7\"/>ing loans bear<span class=\"_ _7\"/>ing debt liabilities bear<span class=\"_ _7\"/>ing debt Car<span class=\"_ _7\"/>rying amount at 31 December 2020 <span class=\"_ _2a6\"> </span>59.0 <span class=\"_ _4d\"> </span>- 205.0 <span class=\"_ _c9\"> </span>- 1,7<span class=\"_ _7\"/>44.3 <span class=\"_ _1b1\"> </span><span class=\"fc0\">- 1,890.3 <span class=\"_ _4d\"> </span></span>- 699.2 <span class=\"_ _1b1\"> </span><span class=\"fc0\">- 2,589.5 </span>Cash flows <span class=\"_ _2a7\"> </span>8.8 <span class=\"_ _18d\"> </span>- 257<span class=\"_ _8\"/>.0 <span class=\"_ _45\"> </span>33.8 <span class=\"_ _55\"> </span>- 214.4 <span class=\"_ _45\"> </span>56.7 <span class=\"_ _44\"> </span>- 1<span class=\"_ _7\"/>57<span class=\"_ _1\"/>.7 Other non-cash mov<span class=\"_ _7\"/>ements <span class=\"_ _2a8\"> </span>- 0.1 <span class=\"_ _130\"> </span>\u2013 <span class=\"_ _db\"> </span>5.1 <span class=\"_ _db\"> </span>5.0 <span class=\"_ _e6\"> </span>- 49.3 <span class=\"_ _18a\"> </span>- 44.3 Exc<span class=\"_ _3\"/>hange diff<span class=\"_ _3\"/>erences <span class=\"_ _2a9\"> </span>3.1 <span class=\"_ _130\"> </span>\u2013 <span class=\"_ _53\"> </span>- 1<span class=\"_ _9\"/>1<span class=\"_ _3\"/>7<span class=\"_ _1\"/>.2 <span class=\"_ _18d\"> </span>- 1<span class=\"_ _9\"/>14.1 <span class=\"_ _18a\"> </span>- 1<span class=\"_ _7\"/>9.5 <span class=\"_ _55\"> </span>- 133.6 Car<span class=\"_ _7\"/>rying amount at 31 December 2021 <span class=\"_ _2a6\"> </span>70.8 <span class=\"_ _4d\"> </span>- 462.0 <span class=\"_ _f\"> </span>- 1,822.6 <span class=\"_ _1b1\"> </span><span class=\"fc0\">- 2,213.8 <span class=\"_ _30\"> </span></span>- 71<span class=\"_ _3\"/>1<span class=\"_ _7\"/>.3 <span class=\"_ _1b1\"> </span><span class=\"fc0\">- 2,925.1 </span>Cash flows <span class=\"_ _2aa\"> </span>- 1<span class=\"_ _3\"/>7<span class=\"_ _1\"/>.7 <span class=\"_ _7e\"> </span>1<span class=\"_ _7\"/>85.2 <span class=\"_ _c7\"> </span>- 1<span class=\"_ _3\"/>87<span class=\"_ _8\"/>.0 <span class=\"_ _18a\"> </span>- 19.5 <span class=\"_ _45\"> </span>64.1 <span class=\"_ _45\"> </span>44.6 Other non-cash mov<span class=\"_ _7\"/>ements <span class=\"_ _2ab\"> </span>- 21<span class=\"_ _9\"/>.8 <span class=\"_ _183\"> </span>\u2013 <span class=\"_ _88\"> </span>- 1<span class=\"_ _8\"/>.0 <span class=\"_ _18a\"> </span>- 22.8 <span class=\"_ _1b2\"> </span>- 61<span class=\"_ _9\"/>.4 <span class=\"_ _18a\"> </span>- 84.2 Exc<span class=\"_ _3\"/>hange diff<span class=\"_ _3\"/>erences <span class=\"_ _2ac\"> </span>1<span class=\"_ _9\"/>.4 <span class=\"_ _183\"> </span>\u2013 <span class=\"_ _7f\"> </span>- 71<span class=\"_ _9\"/>.1 <span class=\"_ _18a\"> </span>- 69.7 <span class=\"_ _18a\"> </span>- 1<span class=\"_ _7\"/>6.4 <span class=\"_ _18a\"> </span>- 86.1 Car<span class=\"_ _7\"/>rying amount at 31 December 2022 <span class=\"_ _2a6\"> </span>32.7 <span class=\"_ _4d\"> </span>- 276.8 <span class=\"_ _c9\"> </span>- 2,081<span class=\"_ _7\"/>.7 <span class=\"_ _1b1\"> </span><span class=\"fc0\">- 2,325.8 <span class=\"_ _4d\"> </span></span>- 725.0 <span class=\"_ _1b1\"> </span><span class=\"fc0\">- 3,050.8 </span>Current assets <span class=\"_ _1a4\"> </span>33.8 <span class=\"_ _183\"> </span>\u2013 <span class=\"_ _130\"> </span>\u2013 <span class=\"_ _45\"> </span>33.8 <span class=\"_ _130\"> </span>\u2013 <span class=\"_ _45\"> </span>33.8 Non-current liabilities <span class=\"_ _2ad\"> </span>\u2013 <span class=\"_ _130\"> </span>\u2013 <span class=\"_ _bc\"> </span>- 1,662.7 <span class=\"_ _bc\"> </span>- 1,662.7 <span class=\"_ _55\"> </span>- 688.8 <span class=\"_ _93\"> </span>- 2,351<span class=\"_ _8\"/>.5 Current liabilities <span class=\"_ _2ae\"> </span>- 1<span class=\"_ _9\"/>.1 <span class=\"_ _55\"> </span>- 27<span class=\"_ _7\"/>6.8 <span class=\"_ _55\"> </span>- 419.0 <span class=\"_ _31\"> </span>- 696.9 <span class=\"_ _e6\"> </span>- 36.2 <span class=\"_ _31\"> </span>- 733.1 Car<span class=\"_ _7\"/>rying amount at 31 December 2022 <span class=\"_ _2a6\"> </span>32.7 <span class=\"_ _4d\"> </span>- 276.8 <span class=\"_ _c9\"> </span>- 2,081<span class=\"_ _7\"/>.7 <span class=\"_ _1b1\"> </span><span class=\"fc0\">- 2,325.8 <span class=\"_ _4d\"> </span></span>- 725.0 <span class=\"_ _1b1\"> </span><span class=\"fc0\">- 3,050.8 </span>1 <span class=\"_ _b3\"> </span>Net interest-bearing debt forms the basis f<span class=\"_ _7\"/>or the net-debt : EBITD<span class=\"_ _3\"/>A calculation mentioned in our financial ratios. 2022 On 30 June 2022, <span class=\"_ _9\"/>V<span class=\"_ _3\"/>opak successfully renew<span class=\"_ _7\"/>ed its EUR 1 billion senior unsecured sustainabilit<span class=\"_ _5\"/>y-link<span class=\"_ _7\"/>ed rev<span class=\"_ _7\"/>olving credit facility (RCF) with a syndicate of 1<span class=\"_ _3\"/>2 international relationship banks. <span class=\"_ _9\"/>T<span class=\"_ _7\"/>his new f<span class=\"_ _7\"/>acilit<span class=\"_ _5\"/>y replaces the current R<span class=\"_ _7\"/>CF of EUR 1 billion, whic<span class=\"_ _7\"/>h has been in place since June 20<span class=\"_ _9\"/>1<span class=\"_ _7\"/>6. F<span class=\"_ _7\"/>or draw<span class=\"_ _7\"/>downs under credit f<span class=\"_ _7\"/>acilities, ref<span class=\"_ _7\"/>erence is made to note 6.7 Cash management.  2021 In December 2021, the Group repaid part of the US Priv<span class=\"_ _7\"/>ate Placement 2009 (USPP 20<span class=\"_ _5\"/>09)  for an amount of USD 1<span class=\"_ _3\"/>50 million (approximately EUR 1<span class=\"_ _3\"/>33 million).  In the fourth quarter of 2021, <span class=\"_ _9\"/>V<span class=\"_ _3\"/>opak <span class=\"_ _3\"/>Vietnam fully repaid its bank loan amounting to VND 60 million (approximately EUR 2 million).  Financial ratios r<span class=\"_ _3\"/>econciliation T<span class=\"_ _9\"/>o pro<span class=\"_ _7\"/>vide insight into how financial ratios for debt co<span class=\"_ _3\"/>venant purposes are calculated and  on how these reconcile to the IFR<span class=\"_ _7\"/>S figures, a financial ratios reconciliation is provided in the table below: In EUR millions <span class=\"_ _206\"> </span>Note <span class=\"_ _76\"> </span><span class=\"fs7 fc0\">2022 <span class=\"_ _76\"> </span><span class=\"fc7\">2021 </span></span>EBITD<span class=\"_ _7\"/>A <span class=\"_ _2a6\"> </span><span class=\"fs7\">424.0 <span class=\"_ _156\"> </span>7<span class=\"_ _7\"/>41<span class=\"_ _7\"/>.5 </span>-/- Result joint v<span class=\"_ _7\"/>entures and associates <span class=\"_ _cc\"> </span>1<span class=\"_ _3\"/>62.3 <span class=\"_ _76\"> </span>1<span class=\"_ _9\"/>72.3 +/+ Gross dividend received from joint v<span class=\"_ _7\"/>entures and associates <span class=\"_ _2a\"> </span>209.3 <span class=\"_ _2af\"> </span>1<span class=\"_ _7\"/>34.1 -/- IFRS 1<span class=\"_ _3\"/>6 Adjustment in operating e<span class=\"_ _7\"/>xpenses for f<span class=\"_ _7\"/>ormer operating leases <span class=\"_ _1b3\"> </span>1<span class=\"_ _7\"/>.1, 3.4 <span class=\"_ _1b1\"> </span><span class=\"ff1 fc1\">60.8 <span class=\"_ _fb\"> </span>53.8 </span>-/- Exceptional items <span class=\"_ _2b0\"> </span>- 430.8 <span class=\"_ _76\"> </span>- 71<span class=\"_ _9\"/>.7 -/- Divestments full y<span class=\"_ _7\"/>ear adjustment <span class=\"_ _13e\"> </span>8.1 <span class=\"_ _55\"> </span>\u2013 EBITD<span class=\"_ _7\"/>A for ratio calculation <span class=\"_ _2b1\"> </span><span class=\"fc0\">832.9 <span class=\"_ _38\"> </span></span>721<span class=\"_ _7\"/>.2 Net inter<span class=\"_ _7\"/>est-bear<span class=\"_ _7\"/>ing debt - 3,050.8 <span class=\"_ _fe\"> </span>- 2,925.1 -/- IFRS 1<span class=\"_ _3\"/>6 Adjustment in lease liabilities f<span class=\"_ _7\"/>or former operating leases <span class=\"_ _2b2\"> </span>1<span class=\"_ _7\"/>.1, 3.4 <span class=\"_ _22c\"> </span><span class=\"ff1 fc1\">- 71<span class=\"_ _7\"/>5.2 <span class=\"_ _16\"> </span>- 702.1 </span>Derivativ<span class=\"_ _7\"/>e financial instruments (currency) <span class=\"_ _6b\"> </span>33.2 <span class=\"_ _d2\"> </span>31<span class=\"_ _9\"/>.0 Credit replacement guarantees <span class=\"_ _1a1\"> </span><span class=\"ff3 fc13\">9.8, 9.9 <span class=\"_ _19a\"> </span></span>- 89.4 <span class=\"_ _3a\"> </span>- 85.8 -/- Subordinated loans <span class=\"_ _f1\"> </span>- 1<span class=\"_ _7\"/>87<span class=\"_ _1\"/>.6 <span class=\"_ _26\"> </span>- 1<span class=\"_ _7\"/>7<span class=\"_ _3\"/>6.6 Cash equivalent included in HFS assets <span class=\"_ _20f\"> </span>\u2013 <span class=\"_ _c3\"> </span>- 5.9 Restricted Cash <span class=\"_ _259\"> </span>\u2013 <span class=\"_ _f\"> </span>- 7<span class=\"_ _1\"/>.8 Senior net debt for r<span class=\"_ _7\"/>atio calculation <span class=\"_ _94\"> </span><span class=\"fc0\">- 2,204.2 <span class=\"_ _37\"> </span></span>- 2,1<span class=\"_ _3\"/>14.9 Financial ratios Senior net debt : EBITD<span class=\"_ _3\"/>A <span class=\"_ _22a\"> </span>2.65 <span class=\"_ _fb\"> </span>2.93 1 Interest cov<span class=\"_ _7\"/>er 8.4 <span class=\"_ _159\"> </span>8.4 1 <span class=\"_ _b3\"> </span>Interest cov<span class=\"_ _7\"/>er is the ratio of the EBITD<span class=\"_ _3\"/>A and the net finance costs. With a Senior net debt : EBITD<span class=\"_ _3\"/>A ratio of 2.65 (2021: 2.93) and an interest cover ratio of 8.4 (2021: 8.4), <span class=\"_ _3\"/>V<span class=\"_ _9\"/>opak met the applicable financial ratios as at 31 December 2022.  The application of IFR<span class=\"_ _7\"/>S 1<span class=\"_ _3\"/>6 has no eff<span class=\"_ _3\"/>ect on the debt covenants of the Group as the related ratios are based on the accounting policies that were applicable on the date of entering into the debt agreements (\u2018frozen G<span class=\"_ _7\"/>AAP\u2019).  A<span class=\"_ _3\"/>ver<span class=\"_ _7\"/>age r<span class=\"_ _7\"/>emaining matur<span class=\"_ _3\"/>ities and main cov<span class=\"_ _7\"/>enant ratios At year<span class=\"_ _9\"/>-end 2022, the interest-bearing loans mainly consisted of unsecured P<span class=\"_ _7\"/>rivate Placements (PPs) in the US and A<span class=\"_ _7\"/>sian market, the R<span class=\"_ _7\"/>ev<span class=\"_ _7\"/>olving credit facility of Ro<span class=\"_ _7\"/>yal <span class=\"_ _9\"/>V<span class=\"_ _3\"/>opak, Money Mark<span class=\"_ _7\"/>et Loans as w<span class=\"_ _7\"/>ell as a bank loan and a credit facility of <span class=\"_ _3\"/>V<span class=\"_ _3\"/>opak <span class=\"_ _9\"/>T<span class=\"_ _8\"/>erminal Singapore Pte Ltd. (VTS). <span class=\"_ _9\"/>T<span class=\"_ _7\"/>he PPs consisted of various financing programs entered into in 2009, 20<span class=\"_ _3\"/>1<span class=\"_ _7\"/>2 and 2020. F<span class=\"_ _7\"/>or further details on currency and interest rate risks, reference is made to notes 6.3 and 6.4 and 9.9.  Inter<span class=\"_ _7\"/>est-bear<span class=\"_ _7\"/>ing loans Inter<span class=\"_ _7\"/>est-bear<span class=\"_ _7\"/>ing loans - lease T<span class=\"_ _8\"/>otal inter<span class=\"_ _7\"/>est-In EUR millions <span class=\"_ _1c2\"> </span><span class=\"fs7 fc7\">USPPs <span class=\"_ _39\"> </span>Asian PPs <span class=\"_ _117\"> </span>VTS Bank loan <span class=\"_ _4f\"> </span>RCFs <span class=\"_ _69\"> </span>Other <span class=\"_ _b2\"> </span>Bank loans <span class=\"_ _7e\"> </span><span class=\"fc0\">T<span class=\"_ _8\"/>otal </span></span>liabilities bear<span class=\"_ _7\"/>ing loans Non-current <span class=\"_ _2b3\"> </span>1,429.1 <span class=\"_ _18a\"> </span>153.5 <span class=\"_ _18a\"> </span>1<span class=\"_ _7\"/>30.6 <span class=\"_ _7e\"> </span>1<span class=\"_ _3\"/>09.1 <span class=\"_ _130\"> </span>\u2013 <span class=\"_ _130\"> </span>\u2013 <span class=\"_ _4d\"> </span>1,822.3 <span class=\"_ _7e\"> </span>67<span class=\"_ _3\"/>6.1 <span class=\"_ _4d\"> </span>2,498.4 Current <span class=\"_ _21a\"> </span>- 0.5 <span class=\"_ _183\"> </span>\u2013 <span class=\"_ _130\"> </span>\u2013 <span class=\"_ _130\"> </span>\u2013 <span class=\"_ _db\"> </span>0.8 <span class=\"_ _18a\"> </span>462.0 <span class=\"_ _e6\"> </span>462.3 <span class=\"_ _45\"> </span>35.2 <span class=\"_ _1bb\"> </span>497<span class=\"_ _8\"/>.5 Car<span class=\"_ _7\"/>rying amount at 31 December 2021 <span class=\"_ _da\"> </span>1,428.6 <span class=\"_ _53\"> </span>153.5 <span class=\"_ _53\"> </span>130.6 <span class=\"_ _131\"> </span>1<span class=\"_ _3\"/>09.1 <span class=\"_ _96\"> </span>0.8 <span class=\"_ _190\"> </span>462.0 <span class=\"_ _118\"> </span><span class=\"fc0\">2,284.6 <span class=\"_ _e6\"> </span></span>71<span class=\"_ _9\"/>1<span class=\"_ _7\"/>.3 <span class=\"_ _19b\"> </span><span class=\"fc0\">2,995.9 </span>A<span class=\"_ _3\"/>verage remaining terms (in years) <span class=\"_ _188\"> </span>5.2 <span class=\"_ _189\"> </span>1<span class=\"_ _7\"/>9.0 <span class=\"_ _113\"> </span>1<span class=\"_ _9\"/>.6 <span class=\"_ _113\"> </span>1<span class=\"_ _9\"/>.4 <span class=\"_ _db\"> </span>0.2 <span class=\"_ _130\"> </span>\u2013 <span class=\"_ _db\"> </span>4.7 <span class=\"_ _45\"> </span>24.9 Non-current <span class=\"_ _2b4\"> </span>1,221<span class=\"_ _9\"/>.7 <span class=\"_ _19c\"> </span>1<span class=\"_ _7\"/>41<span class=\"_ _9\"/>.0 <span class=\"_ _183\"> </span>\u2013 <span class=\"_ _18a\"> </span>300.0 <span class=\"_ _130\"> </span>\u2013 <span class=\"_ _130\"> </span>\u2013 <span class=\"_ _4d\"> </span>1,662.7 <span class=\"_ _e6\"> </span>688.8 <span class=\"_ _87\"> </span>2,351<span class=\"_ _9\"/>.5 Current <span class=\"_ _50\"> </span>278.7 <span class=\"_ _183\"> </span>\u2013 <span class=\"_ _7e\"> </span>1<span class=\"_ _7\"/>39.6 <span class=\"_ _130\"> </span>\u2013 <span class=\"_ _113\"> </span>1<span class=\"_ _9\"/>.5 <span class=\"_ _7e\"> </span>27<span class=\"_ _3\"/>6.0 <span class=\"_ _18a\"> </span>695.8 <span class=\"_ _45\"> </span>36.2 <span class=\"_ _e6\"> </span>732.0 Car<span class=\"_ _7\"/>rying amount at 31 December 2022 <span class=\"_ _da\"> </span>1,500.4 <span class=\"_ _131\"> </span>141.0 <span class=\"_ _190\"> </span>139.6 <span class=\"_ _190\"> </span>30<span class=\"_ _5\"/>0.0 <span class=\"_ _96\"> </span>1.5 <span class=\"_ _190\"> </span>276.0 <span class=\"_ _19b\"> </span><span class=\"fc0\">2,358.5 <span class=\"_ _53\"> </span></span>725.0 <span class=\"_ _19b\"> </span><span class=\"fc0\">3,083.5 </span>A<span class=\"_ _3\"/>verage remaining terms (in years) <span class=\"_ _188\"> </span>4.1 <span class=\"_ _189\"> </span>1<span class=\"_ _7\"/>8.0 <span class=\"_ _db\"> </span>0.6 <span class=\"_ _db\"> </span>4.4 <span class=\"_ _db\"> </span>0.2 <span class=\"_ _130\"> </span>\u2013 <span class=\"_ _db\"> </span>4.3 <span class=\"_ _45\"> </span>24.6 Required r<span class=\"_ _7\"/>atios Senior net debt : EBITD<span class=\"_ _3\"/>A (maximum) <span class=\"_ _2c\"> </span>3.75 <span class=\"_ _45\"> </span>3.75 <span class=\"_ _45\"> </span>3.75 <span class=\"_ _45\"> </span>4.00 <span class=\"_ _45\"> </span>3.75 <span class=\"_ _45\"> </span>3.75 1 Interest cov<span class=\"_ _7\"/>er (minimum) 3.50 <span class=\"_ _45\"> </span>3.50 <span class=\"_ _45\"> </span>3.50 <span class=\"_ _45\"> </span>3.50 <span class=\"_ _45\"> </span>3.50 <span class=\"_ _45\"> </span>3.50 1 <span class=\"_ _b3\"> </span>Interest cov<span class=\"_ _7\"/>er is the ratio of the EBITD<span class=\"_ _3\"/>A and the net finance costs. The f<span class=\"_ _7\"/>air value of the interest-bearing loans is disclosed in note 9.9. Change of contr<span class=\"_ _3\"/>ol clauses Certain lenders have the right to demand complete repa<span class=\"_ _7\"/>yment of outstanding amounts in case any person or an<span class=\"_ _7\"/>y group of persons acting together<span class=\"_ _3\"/>, other than HAL Holding N.V<span class=\"_ _8\"/>, acquires control, directly or indirectly<span class=\"_ _3\"/>, of more than 50% of the voting rights of the Koninklijk<span class=\"_ _7\"/>e V<span class=\"_ _3\"/>opak <span class=\"_ _4\"/>N.V<span class=\"_ _8\"/>. Cash and cash equiv<span class=\"_ _3\"/>alents In EUR millions <span class=\"_ _22d\"> </span>31<span class=\"_ _3\"/>-Dec-22 <span class=\"_ _76\"> </span>31<span class=\"_ _7\"/>-Dec-21Cash and bank <span class=\"_ _63\"> </span>26.7 <span class=\"_ _45\"> </span>58.2 Short-term deposits <span class=\"_ _15d\"> </span>7<span class=\"_ _1\"/>.1 <span class=\"_ _66\"> </span>1<span class=\"_ _7\"/>5.2 T<span class=\"_ _8\"/>otal <span class=\"_ _247\"> </span><span class=\"fc0\">33.8 <span class=\"_ _51\"> </span></span>73.4 Cash and cash equivalents include all cash balances, short-term deposits and other   short-term, highly liquid inv<span class=\"_ _7\"/>estments with original maturities of three months or less that are readily conv<span class=\"_ _7\"/>ertible to known amounts of cash and whic<span class=\"_ _3\"/>h are subject to an insignificant risk of c<span class=\"_ _3\"/>hanges in value, net of specific outstanding bank overdraf<span class=\"_ _3\"/>ts when they are considered an integral part of the Group\u2019<span class=\"_ _9\"/>s cash management. F<span class=\"_ _7\"/>or the years presented, there were no material short-term deposits positions outstanding per year<span class=\"_ _9\"/>-end. The reconciliation with the Consolidated Cash Flo<span class=\"_ _7\"/>w Statement and the net debt reconciliation is as follo<span class=\"_ _7\"/>ws:  In EUR millions <span class=\"_ _22d\"> </span>31<span class=\"_ _3\"/>-Dec-22 <span class=\"_ _76\"> </span>31<span class=\"_ _7\"/>-Dec-21 Cash and cash equivalents <span class=\"_ _ee\"> </span>33.8 <span class=\"_ _45\"> </span>73.4 Bank o<span class=\"_ _7\"/>verdraf<span class=\"_ _3\"/>ts <span class=\"_ _124\"> </span>- 1<span class=\"_ _8\"/>.1 <span class=\"_ _45\"> </span>- 2.6 T<span class=\"_ _8\"/>otal <span class=\"_ _247\"> </span><span class=\"fc0\">32.7 <span class=\"_ _51\"> </span></span>70.8 The cash and cash equiv<span class=\"_ _7\"/>alents were at the free disposal of the Group f<span class=\"_ _7\"/>or the years presented, ex<span class=\"_ _7\"/>cept for cash and cash equiv<span class=\"_ _7\"/>alent balances in 2021 amounting EUR 7<span class=\"_ _d\"/>.8 million for whic<span class=\"_ _3\"/>h certain usage restrictions applied. Note 5.6 Net finance costs A<span class=\"_ _1e\"> </span><span class=\"ff3 fs9\">Accounting policies </span>General and specific borro<span class=\"_ _7\"/>wing costs, including the cost of hedging<span class=\"_ _5\"/>, that are directly at<span class=\"_ _3\"/>tribut<span class=\"_ _5\"/>able to the acquisition or construction of a qualifying asset are capitalized during the period of time that is required to complete and prepare the asset for its intended use or sale. Qualifying assets are assets that necessarily take a substantial period of time (&gt; 1 year) to get ready for their intended use or sale. Other bor<span class=\"_ _7\"/>rowing costs are expensed in the period in whic<span class=\"_ _3\"/>h they are incurred. Interest income from granted loans is presented under Interest income. Interest income  is calculated by applying the ef<span class=\"_ _3\"/>f<span class=\"_ _7\"/>ective interest rate to the gross carrying amount of a  financial asset ex<span class=\"_ _7\"/>cept for financial assets that subsequently become credit-impaired.  F<span class=\"_ _7\"/>or credit-impaired financial assets, the ef<span class=\"_ _7\"/>f<span class=\"_ _7\"/>ective interest rate is applied to the net carrying amount of the financial asset (af<span class=\"_ _3\"/>ter deduction of the loss allowance). Finance costs consist primarily of interest, fair v<span class=\"_ _7\"/>alue gains/losses on derivativ<span class=\"_ _7\"/>es not in a hedge relationship and ex<span class=\"_ _7\"/>c<span class=\"_ _3\"/>hange diff<span class=\"_ _3\"/>erences on loans drawn and of results on hedging instruments recogniz<span class=\"_ _7\"/>ed in the statement of income. Interest expenses are recognized in the period to whic<span class=\"_ _3\"/>h they relate, taking into account the eff<span class=\"_ _3\"/>ective interest rate. Net finance costs In EUR millions <span class=\"_ _12a\"> </span><span class=\"fs7 fc0\">2022 <span class=\"_ _7f\"> </span><span class=\"fc7\">2021 </span></span>Interest income <span class=\"_ _20c\"> </span>7<span class=\"_ _1\"/>.3 <span class=\"_ _db\"> </span>5.6 Inter<span class=\"_ _7\"/>est income <span class=\"_ _129\"> </span><span class=\"fc0\">7<span class=\"_ _8\"/>.3 <span class=\"_ _cb\"> </span><span class=\"fcb\">5.6 </span></span>1 Interest expense on interest-bearing loans 1<span class=\"_ _3\"/>00.6 <span class=\"_ _189\"> </span>89.5 Interest expense on lease liabilities <span class=\"_ _e8\"> </span>23.2 <span class=\"_ _45\"> </span>22.4 Capitalized interest <span class=\"_ _241\"> </span>- 4.4 <span class=\"_ _45\"> </span>- 5.9 Interest component of provisions <span class=\"_ _2b5\"> </span>0.6 <span class=\"_ _db\"> </span>0.2 Fair v<span class=\"_ _7\"/>alue movements of (part of) deriv<span class=\"_ _7\"/>ative financial instr<span class=\"_ _7\"/>uments (no hedge accounting) <span class=\"_ _15d\"> </span>1<span class=\"_ _3\"/>4.7 <span class=\"_ _88\"> </span>- 7<span class=\"_ _8\"/>.4 2 Exc<span class=\"_ _3\"/>hange diff<span class=\"_ _3\"/>erences on underlying items - 1<span class=\"_ _3\"/>0.8 <span class=\"_ _db\"> </span>9.3 Other <span class=\"_ _141\"> </span>4.1 <span class=\"_ _db\"> </span>4.0 Finance costs <span class=\"_ _63\"> </span><span class=\"fc0\">128.0 <span class=\"_ _4f\"> </span></span>1<span class=\"_ _3\"/>12.1 Net finance costs <span class=\"_ _23a\"> </span><span class=\"fc0\">120.7 <span class=\"_ _131\"> </span></span>1<span class=\"_ _7\"/>06.5 1 <span class=\"_ _b3\"> </span>Interest expense includes the impact of interest rate deriv<span class=\"_ _7\"/>atives that are part of a fair v<span class=\"_ _7\"/>alue hedge accounting relationship and/or the recycling of results from the cash flo<span class=\"_ _7\"/>w hedge reser<span class=\"_ _5\"/>ve. 2 <span class=\"_ _b3\"> </span>Exc<span class=\"_ _3\"/>hange diff<span class=\"_ _3\"/>erences on underlying items includes the impact of foreign currency derivativ<span class=\"_ _7\"/>es that are part of a fair value hedge accounting relationship and/or the recy<span class=\"_ _7\"/>cling of results from the cash flow hedge reser<span class=\"_ _5\"/>ve. In 2022, the Group\u2019<span class=\"_ _9\"/>s net finance costs amounted to EUR 1<span class=\"_ _7\"/>20.7 million compared to EUR 1<span class=\"_ _3\"/>06.5 million in 2021<span class=\"_ _8\"/>. <span class=\"_ _9\"/>T<span class=\"_ _7\"/>he increase is resulting from higher interest expenses on increased interest-bearing debt compared to 2021<span class=\"_ _8\"/>. In 2022, capitalized interest during construction w<span class=\"_ _7\"/>as subject to an av<span class=\"_ _7\"/>erage interest rate of 3.0% (2021: 2.7%). Section 6 Financial risk management As a global pla<span class=\"_ _7\"/>yer in the capital-intensive tank terminal industr<span class=\"_ _5\"/>y<span class=\"_ _3\"/>, the <span class=\"_ _3\"/>V<span class=\"_ _3\"/>opak Group is exposed to a number of financial risks inherent in the nature of its operations. <span class=\"_ _8\"/>This section comprises the disclosures on the Group\u2019<span class=\"_ _9\"/>s financial risk management objectives and policies, as w<span class=\"_ _7\"/>ell as the <span class=\"_ _3\"/>V<span class=\"_ _9\"/>opak Group\u2019<span class=\"_ _3\"/>s exposure to currency risk, interest rate risk, equity securities price risk, liquidity risk and credit risk together with the policies and procedures est<span class=\"_ _5\"/>ablished to monitor and manage these risks. In addition, a sensitivity analysis is also provided in this section detailing how these risks could af<span class=\"_ _7\"/>f<span class=\"_ _7\"/>ect the Group\u2019<span class=\"_ _9\"/>s future financial perf<span class=\"_ _7\"/>ormance. The f<span class=\"_ _7\"/>ollowing notes are presented in this section: \u2022 <span class=\"_ _19f\"> </span><span class=\"fc1\">6.1   General </span>\u2022 <span class=\"_ _19f\"> </span><span class=\"fc1\">6.2   Derivativ<span class=\"_ _7\"/>es and hedge accounting </span>\u2022 <span class=\"_ _19f\"> </span><span class=\"fc1\">6.3   Currency risk (mark<span class=\"_ _7\"/>et risk) </span>\u2022 <span class=\"_ _19f\"> </span><span class=\"fc1\">6.4   Interest rate risk (market risk)   </span>\u2022 <span class=\"_ _19f\"> </span><span class=\"fc1\">6.5   Equity securities price risk (market risk) </span>\u2022 <span class=\"_ _19f\"> </span><span class=\"fc1\">6.6   Credit risk </span>\u2022 <span class=\"_ _19f\"> </span><span class=\"fc1\">6.7   Liquidity risk </span>Note 6.1 Gener<span class=\"_ _3\"/>al Overview of financial r<span class=\"_ _3\"/>isk management b<span class=\"_ _7\"/>y the Group The table below pro<span class=\"_ _7\"/>vides an ov<span class=\"_ _7\"/>er<span class=\"_ _5\"/>view of the financial risks to whic<span class=\"_ _3\"/>h the Group is exposed, where these financial risks are arising from and how these risks are measured and <span class=\"fc4 sc0\">FIN</span>managed by the Group. <span class=\"fc4 sc0\">Ov</span><span class=\"fc4 sc0\">erview of financial r</span><span class=\"_ _3\"/><span class=\"fc4 sc0\">isk manag</span><span class=\"fc4 sc0\">ement b</span><span class=\"_ _7\"/><span class=\"fc4 sc0\">y the Gr</span><span class=\"fc4 sc0\">oup</span>Note<span class=\"_ _37\"> </span>Risk<span class=\"_ _54\"> </span>Wher<span class=\"_ _7\"/>e is the risk exposur<span class=\"_ _3\"/>e arising from<span class=\"_ _88\"> </span>How is the r<span class=\"_ _3\"/>isk exposure measur<span class=\"_ _7\"/>ed<span class=\"_ _86\"> </span>How is the r<span class=\"_ _7\"/>isk management by the Gr<span class=\"_ _3\"/>oup6.3<span class=\"_ _1b\"> </span><span class=\"ffb0\">Curr<span class=\"_ _7\"/>ency r<span class=\"_ _7\"/>isk</span>\u2022 <span class=\"_ _b3\"> </span><span class=\"fc1\">Recogniz<span class=\"_ _7\"/>ed financial assets and liabilities </span>\u2022 <span class=\"_ _b3\"> </span><span class=\"fc1\">Sensitivity analysis</span>V<span class=\"_ _3\"/>opak hedges its foreign currency risk e<span class=\"_ _7\"/>xposure resulting from<span class=\"_ _5\"/> (market risk)denominated in a currency other than the \u2022 <span class=\"_ _b3\"> </span><span class=\"fc1\">Cash flow f<span class=\"_ _7\"/>orecasting </span>net interest-bearingfunctional currency of the entity concerneddebt and intercompany positions in principle in full. <span class=\"_ _9\"/>T<span class=\"_ _7\"/>his is<span class=\"_ _5\"/> \u2022 <span class=\"_ _b3\"> </span><span class=\"fc1\">F<span class=\"_ _7\"/>uture transactions</span>primarily done via for<span class=\"_ _5\"/>ward e<span class=\"_ _7\"/>xc<span class=\"_ _3\"/>hange contracts and cross-\u2022 <span class=\"_ _b3\"> </span><span class=\"fc1\">Net inv<span class=\"_ _7\"/>estments in foreign operations</span>currency interest rate swaps (CCIR<span class=\"_ _7\"/>Ss). \u2022 <span class=\"_ _b3\"> </span><span class=\"fc1 ls26\">Of the tot<span class=\"_ _5\"/>al interest-bearing debt denominated in another </span>currency than the functional currency concerned, 36% w<span class=\"_ _7\"/>as hedged by means of cash flo<span class=\"_ _7\"/>w hedges per year<span class=\"_ _9\"/>-end 2022.\u2022 <span class=\"_ _b3\"> </span><span class=\"fc1 ls26\">Of the tot<span class=\"_ _5\"/>al net inv<span class=\"_ _7\"/>estments in foreign currencies held b<span class=\"_ _7\"/>y </span>the Group 46% was under a net in<span class=\"_ _7\"/>vestment hedge.\u2022 The remaining currency risk on the net interest-bearing debt and intercompany positions f<span class=\"_ _7\"/>or whic<span class=\"_ _7\"/>h neither cash flow hedge accounting nor net inv<span class=\"_ _7\"/>estment hedge accounting is applied, is hedged via currency derivativ<span class=\"_ _7\"/>es. Since no hedge accounting is applied the gains and losses on the derivativ<span class=\"_ _7\"/>es and the foreign currency gains and losses on the net interest-bearing debt are alwa<span class=\"_ _7\"/>ys recognized in the income statement in the same period, est<span class=\"_ _5\"/>ablishing the same ef<span class=\"_ _7\"/>f<span class=\"_ _7\"/>ect as when hedge accounting would be applied.6.4<span class=\"_ _1b\"> </span><span class=\"ffb0\">Interest r<span class=\"_ _7\"/>ate r<span class=\"_ _3\"/>isk</span>\u2022 <span class=\"_ _b3\"> </span><span class=\"fc1\">Net interest bearing debt at variable interest rates<span class=\"_ _fe\"> </span></span>\u2022 <span class=\"_ _b3\"> </span><span class=\"fc1\">Sensitivit<span class=\"_ _5\"/>y analysis</span>P<span class=\"_ _3\"/>er year<span class=\"_ _3\"/>-end 2022, 70% of the total interest-bearing (market risk)\u2022 <span class=\"_ _b3\"> </span><span class=\"fc1\">Fixed-to-floating ratio</span>loans was financed at a fix<span class=\"_ _7\"/>ed interest rate. For both y<span class=\"_ _7\"/>ears presented no use was made of Interest rate sw<span class=\"_ _7\"/>aps (IRSs) and/or cross-currency interest rate swaps (CCIR<span class=\"_ _7\"/>Ss) to hedge the interest rate risk.6.5<span class=\"_ _1b\"> </span><span class=\"ffb0\">Equity securities pr<span class=\"_ _3\"/>ice risk</span>\u2022 <span class=\"_ _b3\"> </span><span class=\"fc1\">Inv<span class=\"_ _7\"/>estments in equity securities<span class=\"_ _11f\"> </span><span class=\"fc7\">\u2022 <span class=\"_ _b3\"> </span></span>Sensitivit<span class=\"_ _5\"/>y analysis</span>The group has a limited number of equity inv<span class=\"_ _7\"/>estments whic<span class=\"_ _7\"/>h (market risk)are measured at fair v<span class=\"_ _7\"/>alue through OCI. <span class=\"_ _9\"/>The total carr<span class=\"_ _5\"/>ying value of these in<span class=\"_ _7\"/>vestments is EUR 94.0 million.6.6<span class=\"_ _1b\"> </span><span class=\"ffb0\">Credit r<span class=\"_ _7\"/>isk <span class=\"ffb1\">(customer and counterparty)<span class=\"_ _1b\"> </span><span class=\"fc7\">\u2022 <span class=\"_ _b3\"> </span></span>Cash and cash equivalents</span></span>\u2022 <span class=\"_ _b3\"> </span><span class=\"fc1\">Aging analy<span class=\"_ _7\"/>sis</span>\u2022 Operational receivables: relativ<span class=\"_ _7\"/>ely short payment periods, \u2022 <span class=\"_ _b3\"> </span><span class=\"fc1\">T<span class=\"_ _9\"/>rade and other receivables</span>\u2022 <span class=\"_ _b3\"> </span><span class=\"fc1\">Credit ratings</span>combined with in many instances a retention right on the \u2022 <span class=\"_ _b3\"> </span><span class=\"fc1\">Finance lease receivables </span>\u2022 <span class=\"_ _b3\"> </span><span class=\"fc1\">Exposure per counterparty</span>stored product in connection with trade receivables.\u2022 <span class=\"_ _b3\"> </span><span class=\"fc1\">Derivativ<span class=\"_ _7\"/>es </span>\u2022 <span class=\"_ _b3\"> </span><span class=\"fc1\">Loans granted relate to financing of <span class=\"_ _9\"/>V<span class=\"_ _7\"/>opak network </span>\u2022 <span class=\"_ _b3\"> </span><span class=\"fc1\">Loans granted</span>companies (joint vent<span class=\"_ _7\"/>ures and associates).\u2022 <span class=\"_ _b3\"> </span><span class=\"fc1\">Commit<span class=\"_ _7\"/>ted credit facilities</span>\u2022 <span class=\"_ _b3\"> </span><span class=\"fc1\">Spreading of liquidity investments across a select </span>group of high rated financial institutions limiting undue exposure to one financial instit<span class=\"_ _7\"/>ution.\u2022 <span class=\"_ _b3\"> </span><span class=\"fc1 lsb7\">During the years presented no material impairments were </span>recognized on financial receiv<span class=\"_ _7\"/>ables.6.7<span class=\"_ _1b\"> </span><span class=\"ffb0\">Liquidity risk<span class=\"_ _9b\"> </span></span>Net interest bearing debt, other (cur<span class=\"_ _7\"/>rent) liabilities \u2022 <span class=\"_ _b3\"> </span><span class=\"fc1\">Long-term scenario planning</span>Diversified funding and a<span class=\"_ _7\"/>vailability of commit<span class=\"_ _7\"/>ted and and of<span class=\"_ _7\"/>f-balance sheet commitments\u2022 <span class=\"_ _b3\"> </span><span class=\"fc1\">Cash flow f<span class=\"_ _7\"/>orecasts  </span>uncommit<span class=\"_ _7\"/>ted credit facilities.(incl. annual budget cycle)At year<span class=\"_ _9\"/>-end 2022 the Group had unused commit<span class=\"_ _7\"/>ted credit \u2022 <span class=\"_ _b3\"> </span><span class=\"fc1\">Amount of unused credit facilities</span>facilities of EUR 7<span class=\"_ _9\"/>69.8 million.  Financial r<span class=\"_ _7\"/>isk management  The Group is e<span class=\"_ _7\"/>xposed to a number of financial risks inherent in its day<span class=\"_ _7\"/>-to-day operations. These risks are connected with the ef<span class=\"_ _3\"/>f<span class=\"_ _7\"/>ects of mov<span class=\"_ _7\"/>ements in exc<span class=\"_ _3\"/>hange rates and interest rates. <span class=\"_ _9\"/>T<span class=\"_ _7\"/>he Group is also exposed to credit risk and liquidity risk. Financial risk management, ex<span class=\"_ _7\"/>cept for customer credit risk and operational w<span class=\"_ _7\"/>orking capital management, is controlled by Global <span class=\"_ _8\"/>T<span class=\"_ _9\"/>reasur<span class=\"_ _5\"/>y<span class=\"_ _9\"/>, the central treasur<span class=\"_ _5\"/>y department, based on policies approv<span class=\"_ _7\"/>ed by the Ex<span class=\"_ _7\"/>ecutive B<span class=\"_ _7\"/>oard. Global <span class=\"_ _9\"/>T<span class=\"_ _9\"/>reasury identifies the financial risks and discusses these, together with the related hedge proposals, in detail with the CFO. <span class=\"_ _8\"/>The Executiv<span class=\"_ _7\"/>e Board pro<span class=\"_ _7\"/>vides writ<span class=\"_ _7\"/>ten principles for o<span class=\"_ _7\"/>verall risk management as w<span class=\"_ _7\"/>ell as writ<span class=\"_ _7\"/>ten policies cov<span class=\"_ _7\"/>ering specific areas suc<span class=\"_ _3\"/>h as foreign ex<span class=\"_ _7\"/>c<span class=\"_ _7\"/>hange risk, interest risk, counterparty credit risk, use of derivativ<span class=\"_ _7\"/>e financial instruments and non-deriv<span class=\"_ _7\"/>ative financial instr<span class=\"_ _7\"/>uments, and inv<span class=\"_ _7\"/>estment of ex<span class=\"_ _7\"/>cess liquidity<span class=\"_ _3\"/>. Reports on risk and risk management are submit<span class=\"_ _7\"/>ted on a regular basis. Hedging alternatives are discussed b<span class=\"_ _7\"/>y the Global <span class=\"_ _9\"/>T<span class=\"_ _8\"/>reasur<span class=\"_ _5\"/>y and Global Control departments in close co-operation with the CFO. In order to control the risks at<span class=\"_ _3\"/>t<span class=\"_ _5\"/>ac<span class=\"_ _3\"/>hed to fluctuations in foreign cur<span class=\"_ _7\"/>rencies and interest rates, V<span class=\"_ _3\"/>opak uses derivativ<span class=\"_ _7\"/>e financial instruments in accordance with a cur<span class=\"_ _7\"/>rency risk management policy approv<span class=\"_ _7\"/>ed by the Ex<span class=\"_ _7\"/>ecutive B<span class=\"_ _7\"/>oard. <span class=\"_ _9\"/>This financial policy is designed to control the ef<span class=\"_ _3\"/>f<span class=\"_ _7\"/>ects of suc<span class=\"_ _3\"/>h risks on cash flows, equity and results. Derivatives are used e<span class=\"_ _7\"/>xclusiv<span class=\"_ _7\"/>ely for hedging purposes and are not permit<span class=\"_ _3\"/>ted to be used as trading or speculative instruments. The areas in<span class=\"_ _7\"/>volving the most significant financial risks are trade and other receiv<span class=\"_ _7\"/>ables, foreign cur<span class=\"_ _7\"/>rency exc<span class=\"_ _3\"/>hange risk arising from fut<span class=\"_ _7\"/>ure commercial transactions, recognized assets and liabilities and net inv<span class=\"_ _7\"/>estments in foreign operations, net finance costs resulting from fluctuations in mark<span class=\"_ _7\"/>et interest rates and liquidity risks. Detailed information on the specific risk exposures is included in the rele<span class=\"_ _7\"/>vant disclosure notes in this section.  The Group has not identified additional financial risk e<span class=\"_ _7\"/>xposures in 2022 compared to the previous y<span class=\"_ _7\"/>ear<span class=\"_ _3\"/>.  How<span class=\"_ _7\"/>ev<span class=\"_ _7\"/>er there were c<span class=\"_ _3\"/>hanges in the magnitude of e<span class=\"_ _7\"/>xisting risk exposures as a result of geopolitical and macro-economic dev<span class=\"_ _7\"/>elopments further disclosed in note 9.3. The approac<span class=\"_ _3\"/>h to capital management and financial risk management activities remained unc<span class=\"_ _3\"/>hanged compared to prior year<span class=\"_ _3\"/>. Ref<span class=\"_ _3\"/>erence is also made to note 5.1<span class=\"_ _8\"/>. Note 6.2 Der<span class=\"_ _3\"/>iv<span class=\"_ _3\"/>atives and hedge accounting In order to control the risks at<span class=\"_ _3\"/>t<span class=\"_ _5\"/>ac<span class=\"_ _3\"/>hed to fluctuations in foreign cur<span class=\"_ _7\"/>rencies and interest rates, V<span class=\"_ _3\"/>opak uses derivativ<span class=\"_ _7\"/>e financial instruments in accordance with a financial policy appro<span class=\"_ _7\"/>ved b<span class=\"_ _7\"/>y the Executiv<span class=\"_ _7\"/>e Board. <span class=\"_ _8\"/>This financial policy is designed to control the ef<span class=\"_ _3\"/>fects of suc<span class=\"_ _3\"/>h risks on cash flows, equity and results. Speculative positions are not allo<span class=\"_ _7\"/>wed. The main deriv<span class=\"_ _7\"/>ative financial instr<span class=\"_ _7\"/>uments used by the Group are f<span class=\"_ _7\"/>or<span class=\"_ _5\"/>ward ex<span class=\"_ _7\"/>c<span class=\"_ _7\"/>hange contracts (F<span class=\"_ _7\"/>or<span class=\"_ _5\"/>wards), interest rate swaps (IR<span class=\"_ _7\"/>Ss) and cross-currency interest rate swaps (CCIR<span class=\"_ _3\"/>Ss). Hedge accounting is applied to remov<span class=\"_ _7\"/>e the accounting mismatc<span class=\"_ _3\"/>h bet<span class=\"_ _5\"/>ween the hedging instrument and the hedged item. <span class=\"_ _8\"/>This will ef<span class=\"_ _3\"/>f<span class=\"_ _7\"/>ectively result in recognizing interest expense at a fixed interest rate f<span class=\"_ _7\"/>or the hedged loans, and removing the currency e<span class=\"_ _3\"/>xposure from loans and receivables as w<span class=\"_ _7\"/>ell as purc<span class=\"_ _3\"/>hases of propert<span class=\"_ _5\"/>y<span class=\"_ _3\"/>, plant and equipment at the fixed f<span class=\"_ _7\"/>oreign currency rate f<span class=\"_ _7\"/>or the hedged items. A<span class=\"_ _1e\"> </span><span class=\"ff3 fs9\">Accounting policies </span>Derivativ<span class=\"_ _7\"/>e financial instruments are recogniz<span class=\"_ _7\"/>ed in the statement of financial position on the transaction date and measured at fair v<span class=\"_ _7\"/>alue. Changes in fair v<span class=\"_ _7\"/>alue are recognized in the statement of income unless hedge accounting is applied. <span class=\"_ _3\"/>W<span class=\"_ _5\"/>ith respect to hedge accounting, V<span class=\"_ _3\"/>opak makes a distinction between f<span class=\"_ _7\"/>air value hedges, cash flo<span class=\"_ _7\"/>w hedges and hedges of net inv<span class=\"_ _7\"/>estments in foreign operations. Derivativ<span class=\"_ _7\"/>es are only used for economic hedging purposes and not as speculativ<span class=\"_ _7\"/>e inv<span class=\"_ _7\"/>estments. How<span class=\"_ _7\"/>ev<span class=\"_ _7\"/>er<span class=\"_ _3\"/>, where derivativ<span class=\"_ _7\"/>es do not meet the hedging criteria, they are classified as \u2018held for trading\u2019 f<span class=\"_ _7\"/>or accounting purposes. At the inception of the hedging transaction, the Group formally designates and documents the economic relationship between eligible hedging instruments and hedged items to whic<span class=\"_ _3\"/>h it will apply hedge accounting and the risk management objective and strategy f<span class=\"_ _7\"/>or undertaking the hedge.  The documentation includes identification of the hedging instrument, the hedged item, the nature of the risk being hedged and ho<span class=\"_ _7\"/>w the Group will assess whether the hedging relationship meets the hedge ef<span class=\"_ _7\"/>f<span class=\"_ _7\"/>ectiveness requirements (including the analy<span class=\"_ _7\"/>sis of sources of hedge inef<span class=\"_ _7\"/>f<span class=\"_ _7\"/>ectiveness and ho<span class=\"_ _7\"/>w the hedge ratio is determined). A hedging relationship qualifies for hedge accounting if it meets all of the f<span class=\"_ _7\"/>ollowing ef<span class=\"_ _3\"/>f<span class=\"_ _7\"/>ectiveness requirements: \u2022 <span class=\"_ _19f\"> </span>There is \u2018an economic relationship\u2019 between the hedged item and the hedging instr<span class=\"_ _7\"/>ument \u2022 <span class=\"_ _19f\"> </span><span class=\"fc1\">The ef<span class=\"_ _3\"/>f<span class=\"_ _7\"/>ect of credit risk does not \u2018dominate the value c<span class=\"_ _3\"/>hanges\u2019 that result from that </span>economic relationship \u2022 <span class=\"_ _19f\"> </span>The hedge ratio of the hedging relationship is the same as that resulting from the quantity of the hedged item that the Group actually hedges and the quantity of the hedging instrument that the Group act<span class=\"_ _3\"/>ually uses to hedge that quantit<span class=\"_ _5\"/>y of hedged item. Hedge ef<span class=\"_ _7\"/>f<span class=\"_ _7\"/>ectiveness is determined at the inception of the hedge relationship, and through periodic prospective ef<span class=\"_ _3\"/>f<span class=\"_ _7\"/>ectiveness assessments, to ensure that an economic relationship exists between the hedged item and hedging instr<span class=\"_ _7\"/>ument. F<span class=\"_ _7\"/>air v<span class=\"_ _7\"/>alue hedges The Group normally only applies f<span class=\"_ _7\"/>air value hedge accounting f<span class=\"_ _7\"/>or hedging fixed-interest risk on loans drawn. Changes in the f<span class=\"_ _7\"/>air value of deriv<span class=\"_ _7\"/>atives that are designated and qualify as f<span class=\"_ _7\"/>air value hedges are recorded in the income statement, together with any c<span class=\"_ _3\"/>hanges in the fair value of the hedged item that are at<span class=\"_ _3\"/>tributable to the hedged risk. <span class=\"_ _9\"/>The gain or loss relating to the ef<span class=\"_ _7\"/>f<span class=\"_ _7\"/>ective and inef<span class=\"_ _3\"/>f<span class=\"_ _7\"/>ective portion of the derivativ<span class=\"_ _7\"/>e is recognized in the income statement within Net finance costs, together with c<span class=\"_ _3\"/>hanges in the fair value of the hedged fix<span class=\"_ _7\"/>ed-rate borro<span class=\"_ _7\"/>wings at<span class=\"_ _7\"/>tributable to interest rate risk. F<span class=\"_ _7\"/>or fair v<span class=\"_ _7\"/>alue hedges relating to items carried at amortized cost, an<span class=\"_ _7\"/>y adjustment to carr<span class=\"_ _5\"/>ying value is amortiz<span class=\"_ _7\"/>ed through the income statement over the remaining term of the hedge using the Ef<span class=\"_ _7\"/>f<span class=\"_ _7\"/>ective Interest R<span class=\"_ _7\"/>ate (EIR) method. <span class=\"_ _9\"/>The EIR amortization ma<span class=\"_ _7\"/>y begin as soon as an adjustment exists and no later than when the hedged item ceases to be adjusted f<span class=\"_ _7\"/>or c<span class=\"_ _3\"/>hanges in its fair value at<span class=\"_ _3\"/>tributable to the risk being hedged. If the hedge no longer meets the criteria for hedge accounting, the adjustment to the carr<span class=\"_ _5\"/>ying amount of a hedged item f<span class=\"_ _7\"/>or whic<span class=\"_ _7\"/>h the ef<span class=\"_ _7\"/>f<span class=\"_ _7\"/>ective interest method is used is amortized to the income statement ov<span class=\"_ _7\"/>er the period to maturity using a recalculated ef<span class=\"_ _3\"/>fectiv<span class=\"_ _7\"/>e interest rate. Cash flow hedg<span class=\"_ _7\"/>es A cash flow hedge is applicable f<span class=\"_ _7\"/>or those derivativ<span class=\"_ _7\"/>es qualifying and designated as a hedge of the c<span class=\"_ _3\"/>hange in cash flows to be received or paid relating to a recogniz<span class=\"_ _7\"/>ed asset or liability or a highly probable forecasted transaction. Hedge ef<span class=\"_ _3\"/>f<span class=\"_ _7\"/>ectiveness is determined at the inception of the hedge relationship, and through periodic prospective ef<span class=\"_ _3\"/>f<span class=\"_ _7\"/>ectiveness assessments to ensure that an economic relationship exists between the hedged item and hedging instrument. <span class=\"_ _8\"/>The Group enters into hedge relationships where the critical terms of the hedging instrument matc<span class=\"_ _3\"/>h exactly with the terms of the hedged item, and thus a qualitative assessment of ef<span class=\"_ _7\"/>f<span class=\"_ _7\"/>ectiveness is perf<span class=\"_ _7\"/>ormed. If c<span class=\"_ _7\"/>hanges in circumstances aff<span class=\"_ _3\"/>ect the terms of the hedged item suc<span class=\"_ _3\"/>h that the critical terms no longer match e<span class=\"_ _3\"/>xactly with the critical terms of the hedging instrument, the Group uses the dollar of<span class=\"_ _3\"/>fset method to assess ef<span class=\"_ _7\"/>f<span class=\"_ _7\"/>ectiveness. The ef<span class=\"_ _3\"/>f<span class=\"_ _7\"/>ective parts of c<span class=\"_ _3\"/>hanges in the fair value of deriv<span class=\"_ _7\"/>ative financial instr<span class=\"_ _3\"/>uments are recognized in Other comprehensiv<span class=\"_ _7\"/>e income. Inef<span class=\"_ _7\"/>f<span class=\"_ _7\"/>ectiveness on cash flo<span class=\"_ _7\"/>w hedges is recognized where the cumulativ<span class=\"_ _7\"/>e c<span class=\"_ _3\"/>hange in the designated component value of the hedging instrument e<span class=\"_ _7\"/>xceeds, on an absolute basis, the c<span class=\"_ _3\"/>hange in value of the hedged item at<span class=\"_ _3\"/>tribut<span class=\"_ _5\"/>able to the hedged risk. The gain or loss as a result of inef<span class=\"_ _3\"/>f<span class=\"_ _7\"/>ectiveness and the interest component that is a result of the time value of mone<span class=\"_ _7\"/>y in the valuation of the deriv<span class=\"_ _7\"/>ative financial instr<span class=\"_ _7\"/>ument are recognized directly in the statement of income. <span class=\"_ _9\"/>This also applies to the credit risks on deriv<span class=\"_ _7\"/>atives, unless the cumulative c<span class=\"_ _3\"/>hange in the fair v<span class=\"_ _7\"/>alue of the hedging instrument is lo<span class=\"_ _7\"/>wer than the hedged item. Amounts accumulated in equity are reclassified to profit or loss at the same date as the hedged transaction af<span class=\"_ _7\"/>f<span class=\"_ _7\"/>ects profit or loss or if the hedged transaction is no longer probable. The ef<span class=\"_ _3\"/>f<span class=\"_ _7\"/>ects are shown under Finance costs. If the established agreement or the foreseeable transaction that is hedged results in the recognition of a non-financial asset, the accumulated gains or losses previously def<span class=\"_ _3\"/>erred in equity are reclassified from equit<span class=\"_ _5\"/>y and recognized in the initial recognition of the asset or liability<span class=\"_ _3\"/>. If a hedging instrument or the hedge relationship is terminated but the hedged transaction is still expected to take place, the accumulated gains or losses will remain in equity at that time and will subsequently be recognized in the statement of income when the previously hedged transaction takes place. Net inv<span class=\"_ _7\"/>estment hedges Net inv<span class=\"_ _7\"/>estments in foreign operations can be hedged (net in<span class=\"_ _7\"/>vestment hedge) b<span class=\"_ _7\"/>y qualifying and designated derivativ<span class=\"_ _7\"/>e financial instruments or debt instr<span class=\"_ _3\"/>uments denominated in foreign currency<span class=\"_ _9\"/>. Hedges of a net investment in a f<span class=\"_ _7\"/>oreign operation, including a hedge of a monetar<span class=\"_ _5\"/>y item that is accounted for as part of the net in<span class=\"_ _7\"/>vestment, are accounted f<span class=\"_ _7\"/>or in a wa<span class=\"_ _7\"/>y similar to cash flow hedges. Gains or losses on the hedging instr<span class=\"_ _7\"/>ument relating to the ef<span class=\"_ _3\"/>fectiv<span class=\"_ _7\"/>e portion of the hedge are recognized in the translation reserve (equity component) via OCI to the extent that the<span class=\"_ _7\"/>y relate to the hedging of net inv<span class=\"_ _7\"/>estments in foreign activities. <span class=\"_ _8\"/>The gain or loss relating to the inef<span class=\"_ _7\"/>f<span class=\"_ _7\"/>ective portion is recogniz<span class=\"_ _7\"/>ed immediately in the income statement. Re<span class=\"_ _7\"/>versal through the statement of income takes place proportionately if all or part of the underlying position is derecognized. <span class=\"_ _8\"/>The inef<span class=\"_ _3\"/>fectiv<span class=\"_ _7\"/>e part and the interest component are recognized directly in the statement of income.  Der<span class=\"_ _7\"/>iv<span class=\"_ _7\"/>atives that do not qualify f<span class=\"_ _7\"/>or hedge accounting Certain derivative instr<span class=\"_ _7\"/>uments do not qualify for hedge accounting. Changes in the fair v<span class=\"_ _7\"/>alue of any deriv<span class=\"_ _7\"/>ative instr<span class=\"_ _7\"/>ument that does not qualify for hedge accounting are recogniz<span class=\"_ _7\"/>ed immediately in the income statement and are included in the Finance costs. <span class=\"_ _9\"/>This mainly comprises derivativ<span class=\"_ _7\"/>es that are used to hedge the foreign currency risk on intra-group positions. Although the deriv<span class=\"_ _7\"/>atives ha<span class=\"_ _7\"/>ve not been designated in a hedge relationship, the<span class=\"_ _7\"/>y act as an economic hedge and will of<span class=\"_ _7\"/>fset the underlying transactions when they occur<span class=\"_ _9\"/>. <span class=\"ff3 fsc\">Ke<span class=\"_ _7\"/>y accounting estimates and judgments </span>The f<span class=\"_ _7\"/>air value of a derivativ<span class=\"_ _7\"/>e financial instrument not traded on activ<span class=\"_ _7\"/>e markets is measured as the present value of the e<span class=\"_ _7\"/>xpected future cash flo<span class=\"_ _7\"/>ws under the contract (level 2 f<span class=\"_ _7\"/>air value). In determining this value, a v<span class=\"_ _7\"/>aluation model is used that is based on the interest rates and the ex<span class=\"_ _7\"/>c<span class=\"_ _7\"/>hange rates as at the end of the reporting period. Ref<span class=\"_ _3\"/>erence is made to note 9.9 for more information.  Reconciliation of der<span class=\"_ _7\"/>iv<span class=\"_ _7\"/>ative financial instr<span class=\"_ _3\"/>uments The ne<span class=\"_ _7\"/>xt table shows the ef<span class=\"_ _7\"/>f<span class=\"_ _7\"/>ects of combining the currency derivativ<span class=\"_ _7\"/>e financial instruments (see note 6.3) and the interest derivativ<span class=\"_ _7\"/>e financial instruments (see note 6.4) and a reconciliation to the Consolidated statement of financial position. 31 December 2022 <span class=\"_ _5d\"> </span>31 December 2021 In EUR millions <span class=\"_ _261\"> </span>Note <span class=\"_ _15a\"> </span>Assets <span class=\"_ _ce\"> </span>Liabilities <span class=\"_ _18a\"> </span>T<span class=\"_ _8\"/>otal <span class=\"_ _15a\"> </span><span class=\"fc7\">Assets <span class=\"_ _ce\"> </span>Liabilities <span class=\"_ _18a\"> </span>T<span class=\"_ _8\"/>otal </span>Currency derivativ<span class=\"_ _7\"/>e financial instruments <span class=\"_ _2b6\"> </span><span class=\"ff3 fc13\">6.3 <span class=\"_ _3f\"> </span></span>73.4 <span class=\"_ _db\"> </span>6.0 <span class=\"_ _108\"> </span>67<span class=\"_ _1\"/>.4 <span class=\"_ _45\"> </span>43.6 <span class=\"_ _80\"> </span>7<span class=\"_ _1\"/>.6 <span class=\"_ _45\"> </span>36.0 T<span class=\"_ _8\"/>otal deriv<span class=\"_ _7\"/>ative financial instr<span class=\"_ _3\"/>uments 73.4 <span class=\"_ _cb\"> </span>6.0 <span class=\"_ _189\"> </span>67<span class=\"_ _8\"/>.4 <span class=\"_ _51\"> </span>43.6 <span class=\"_ _81\"> </span>7<span class=\"_ _8\"/>.6 <span class=\"_ _b1\"> </span>36.0 T<span class=\"_ _8\"/>otal <span class=\"_ _2b7\"> </span>73.4 <span class=\"_ _cb\"> </span>6.0 <span class=\"_ _189\"> </span>67<span class=\"_ _8\"/>.4 <span class=\"_ _51\"> </span><span class=\"fcb\">43.6 <span class=\"_ _81\"> </span>7<span class=\"_ _8\"/>.6 <span class=\"_ _b1\"> </span>36.0 </span>Non-current <span class=\"_ _2b8\"> </span>1<span class=\"_ _7\"/>5.1 <span class=\"_ _113\"> </span>1<span class=\"_ _9\"/>.7 <span class=\"_ _189\"> </span>1<span class=\"_ _7\"/>3.4 <span class=\"_ _45\"> </span>35.6 <span class=\"_ _130\"> </span>\u2013 <span class=\"_ _45\"> </span>35.6 Current <span class=\"_ _2b9\"> </span>58.3 <span class=\"_ _db\"> </span>4.3 <span class=\"_ _45\"> </span>54.0 <span class=\"_ _db\"> </span>8.0 <span class=\"_ _80\"> </span>7<span class=\"_ _8\"/>.6 <span class=\"_ _db\"> </span>0.4 T<span class=\"_ _8\"/>otal <span class=\"_ _2b7\"> </span>73.4 <span class=\"_ _cb\"> </span>6.0 <span class=\"_ _189\"> </span>67<span class=\"_ _8\"/>.4 <span class=\"_ _51\"> </span><span class=\"fcb\">43.6 <span class=\"_ _81\"> </span>7<span class=\"_ _8\"/>.6 <span class=\"_ _b1\"> </span>36.0 </span>The table below sho<span class=\"_ _7\"/>ws the mov<span class=\"_ _7\"/>ements in the Group\u2019<span class=\"_ _9\"/>s tot<span class=\"_ _5\"/>al derivativ<span class=\"_ _7\"/>e portfolio f<span class=\"_ _7\"/>or the year<span class=\"_ _9\"/>. In EUR millions <span class=\"_ _231\"> </span>Not<span class=\"_ _7\"/>e <span class=\"_ _bd\"> </span><span class=\"fs7 fc7\">Forwar<span class=\"_ _7\"/>ds <span class=\"_ _15a\"> </span>Sw<span class=\"_ _7\"/>aps <span class=\"_ _18a\"> </span><span class=\"fc0\">T<span class=\"_ _8\"/>otal </span></span>31 December 2021 <span class=\"_ _25b\"> </span>65.7 <span class=\"_ _190\"> </span>- 29.7 <span class=\"_ _51\"> </span><span class=\"fc0\">36.0 </span>Set<span class=\"_ _7\"/>tlement of derivativ<span class=\"_ _7\"/>es <span class=\"_ _137\"> </span><span class=\"ff3 fc13\">2.9 <span class=\"_ _3c\"> </span></span>36.0 <span class=\"_ _45\"> </span>- 4.6 <span class=\"_ _2f\"> </span>31<span class=\"_ _9\"/>.4 Ef<span class=\"_ _7\"/>fectiv<span class=\"_ _7\"/>e part of hedges of net inv<span class=\"_ _7\"/>estments to other comprehensive income <span class=\"_ _121\"> </span><span class=\"ff3 fc13\">5.2 <span class=\"_ _3f\"> </span></span>- 3.0 <span class=\"_ _130\"> </span>\u2013 <span class=\"_ _45\"> </span>- 3.0 Ef<span class=\"_ _7\"/>fectiv<span class=\"_ _7\"/>e part of cash flow hedges to other comprehensive Income <span class=\"_ _165\"> </span><span class=\"ff3 fc13\">5.2 <span class=\"_ _187\"> </span></span>\u2013 <span class=\"_ _189\"> </span>1<span class=\"_ _7\"/>5.3 <span class=\"_ _189\"> </span>1<span class=\"_ _7\"/>5.3 Fair v<span class=\"_ _7\"/>alue movement of derivativ<span class=\"_ _7\"/>es not in a hedge relationship <span class=\"_ _1b9\"> </span><span class=\"ff3 fc13\">5.6 <span class=\"_ _49\"> </span></span>- 1<span class=\"_ _7\"/>2.3 <span class=\"_ _130\"> </span>\u2013 <span class=\"_ _18a\"> </span>- 12.3 31 December 2022 <span class=\"_ _25b\"> </span>86.4 <span class=\"_ _190\"> </span>- 19.0 <span class=\"_ _45\"> </span><span class=\"fc0\">67<span class=\"_ _8\"/>.4 </span>F<span class=\"_ _7\"/>or an ov<span class=\"_ _7\"/>er<span class=\"_ _5\"/>view of the mo<span class=\"_ _7\"/>vements in the hedging reser<span class=\"_ _5\"/>v<span class=\"_ _7\"/>e in shareholders\u2019 equity<span class=\"_ _9\"/>, reference is made to note 5.2. Note 6.3 Cur<span class=\"_ _3\"/>r<span class=\"_ _7\"/>ency r<span class=\"_ _7\"/>isk The Group is e<span class=\"_ _7\"/>xposed to foreign currency e<span class=\"_ _3\"/>xc<span class=\"_ _7\"/>hange risks. <span class=\"_ _9\"/>T<span class=\"_ _7\"/>hese arise mainly from the US dollar (USD) and Singapore dollar (SGD). F<span class=\"_ _7\"/>oreign currency ex<span class=\"_ _3\"/>change risk arises from future commercial transactions, recogniz<span class=\"_ _7\"/>ed assets and liabilities and net inv<span class=\"_ _7\"/>estments in foreign operations. The primary objective of the currency risk management policy is to protect <span class=\"_ _9\"/>V<span class=\"_ _3\"/>opak against fluctuations in the v<span class=\"_ _7\"/>alue of the assets, liabilities and expected cash flo<span class=\"_ _7\"/>ws caused by c<span class=\"_ _3\"/>hanges in currency e<span class=\"_ _7\"/>xc<span class=\"_ _3\"/>hange rates. A<span class=\"_ _7\"/>ccount is t<span class=\"_ _5\"/>aken of fut<span class=\"_ _3\"/>ure cash flows from inv<span class=\"_ _7\"/>estments and disposals as well as cash flo<span class=\"_ _7\"/>ws from operating and financing activities. Eac<span class=\"_ _3\"/>h quarter<span class=\"_ _3\"/>, currency risks are identified and the hedging strategy is re<span class=\"_ _7\"/>viewed and subsequently presented to the Executiv<span class=\"_ _7\"/>e Board f<span class=\"_ _7\"/>or approv<span class=\"_ _7\"/>al. <span class=\"_ _9\"/>The main deriv<span class=\"_ _7\"/>ative financial instr<span class=\"_ _3\"/>uments used by the Group to hedge cur<span class=\"_ _7\"/>rency risks are for<span class=\"_ _5\"/>ward e<span class=\"_ _7\"/>xc<span class=\"_ _3\"/>hange contracts and cross-currency interest rate swaps (CCIR<span class=\"_ _7\"/>Ss). The table below pro<span class=\"_ _7\"/>vides an ov<span class=\"_ _7\"/>er<span class=\"_ _5\"/>view of the contract<span class=\"_ _7\"/>ual currencies of the interest-bearing loans and short-term borro<span class=\"_ _7\"/>wings (excluding transaction costs): Local cur<span class=\"_ _7\"/>rency <span class=\"_ _15f\"> </span>Euro In millions 2022 <span class=\"_ _1b2\"> </span><span class=\"fc7\">2021 <span class=\"_ _1b2\"> </span></span>2022 <span class=\"_ _1b2\"> </span><span class=\"fc7\">2021 </span>Euro (EUR) <span class=\"_ _ae\"> </span>726.7 <span class=\"_ _18a\"> </span>712.8 <span class=\"_ _e6\"> </span>726.7 <span class=\"_ _18a\"> </span>712.8 US dollar (USD) <span class=\"_ _15f\"> </span>1,385.3 <span class=\"_ _4d\"> </span>1,384.4 <span class=\"_ _4d\"> </span>1,299.4 <span class=\"_ _4d\"> </span>1,222.4 P<span class=\"_ _3\"/>ound sterling (GBP) <span class=\"_ _2ba\"> </span>35.0 <span class=\"_ _45\"> </span>35.0 <span class=\"_ _45\"> </span>39.6 <span class=\"_ _2f\"> </span>41<span class=\"_ _9\"/>.7 Canadian dollar (CAD) <span class=\"_ _2bb\"> </span>25.0 <span class=\"_ _45\"> </span>25.0 <span class=\"_ _3f\"> </span>1<span class=\"_ _3\"/>7<span class=\"_ _1\"/>.3 <span class=\"_ _3f\"> </span>1<span class=\"_ _7\"/>7<span class=\"_ _1\"/>.3 Singapore dollar (SGD) <span class=\"_ _ca\"> </span>200.0 <span class=\"_ _7e\"> </span>214.0 <span class=\"_ _18a\"> </span>1<span class=\"_ _3\"/>39.6 <span class=\"_ _7e\"> </span>139.8 Japanese y<span class=\"_ _7\"/>en (JPY) <span class=\"_ _ca\"> </span>20,000.0 <span class=\"_ _bc\"> </span>20,00<span class=\"_ _5\"/>0.0 <span class=\"_ _19c\"> </span>1<span class=\"_ _7\"/>41<span class=\"_ _9\"/>.0 <span class=\"_ _18a\"> </span>153.5 T<span class=\"_ _8\"/>otal <span class=\"_ _24e\"> </span><span class=\"fc0\">2,363.6 <span class=\"_ _15a\"> </span></span>2,287<span class=\"_ _8\"/>.5 Cur<span class=\"_ _7\"/>r<span class=\"_ _7\"/>ency r<span class=\"_ _7\"/>isk ar<span class=\"_ _7\"/>ising from oper<span class=\"_ _7\"/>ating activities The risks associated with commercial transaction positions arising from operating activities are limited for <span class=\"_ _9\"/>V<span class=\"_ _3\"/>opak, as operating income and operating expenses are, as a r<span class=\"_ _7\"/>ule, largely denominated in the same currency<span class=\"_ _9\"/>. Howe<span class=\"_ _7\"/>ver<span class=\"_ _9\"/>, in some countries (in particular<span class=\"_ _3\"/>, in Latin America), a substantial portion of the income flow is in US dollars whereas the operating expenses are largely denominated in local cur<span class=\"_ _7\"/>rencies. In these countries, the aim is to hedge the transaction risk naturally<span class=\"_ _9\"/>. An<span class=\"_ _7\"/>y material remaining net transaction position can be hedged in full by means of f<span class=\"_ _7\"/>or<span class=\"_ _5\"/>ward ex<span class=\"_ _7\"/>c<span class=\"_ _3\"/>hange contracts.  Intra-gr<span class=\"_ _3\"/>oup financing All intra-group long-term financing is provided b<span class=\"_ _7\"/>y <span class=\"_ _3\"/>V<span class=\"_ _3\"/>opak\u2019<span class=\"_ _9\"/>s Global <span class=\"_ _9\"/>T<span class=\"_ _8\"/>reasur<span class=\"_ _5\"/>y function which acts as an in-house bank. In principle, all intra-group financing is denominated in the functional currency of the local entity concerned. <span class=\"_ _9\"/>This set-up e<span class=\"_ _3\"/>xposes the <span class=\"_ _3\"/>V<span class=\"_ _3\"/>opak Group to foreign currency risk f<span class=\"_ _7\"/>or long-term intra-group positions whic<span class=\"_ _7\"/>h are not part of a net-inv<span class=\"_ _7\"/>estment. F<span class=\"_ _7\"/>ollowing the Group\u2019<span class=\"_ _9\"/>s currency risk management policy this currency risk is fully hedged b<span class=\"_ _3\"/>y means of derivativ<span class=\"_ _7\"/>es where possible. <span class=\"_ _9\"/>T<span class=\"_ _7\"/>he derivativ<span class=\"_ _7\"/>es used to hedge these positions are not included in a hedge relationship and as a result mov<span class=\"_ _7\"/>ements in the fair v<span class=\"_ _7\"/>alue of these derivativ<span class=\"_ _7\"/>es are directly recognized in the income statement. <span class=\"_ _9\"/>T<span class=\"_ _7\"/>he timing of these fair v<span class=\"_ _7\"/>alue mov<span class=\"_ _7\"/>ements coincides with the timing of the recognition of the foreign currency gains/losses on the intra-group loans and receivables denominated in a cur<span class=\"_ _7\"/>rency other than the Euro, whic<span class=\"_ _3\"/>h are eff<span class=\"_ _3\"/>ectively of<span class=\"_ _3\"/>fset. Cur<span class=\"_ _7\"/>r<span class=\"_ _7\"/>ency r<span class=\"_ _7\"/>isk ar<span class=\"_ _7\"/>ising from the in<span class=\"_ _7\"/>vestments in f<span class=\"_ _7\"/>or<span class=\"_ _7\"/>eign operations Net inv<span class=\"_ _7\"/>estment in foreign activities are hedged b<span class=\"_ _7\"/>y loans in the same currency and/or for<span class=\"_ _5\"/>ward ex<span class=\"_ _7\"/>c<span class=\"_ _3\"/>hange contracts, while applying net investment hedge accounting. <span class=\"_ _9\"/>T<span class=\"_ _7\"/>he amount of the hedge is determined mainly by limiting the maximum net e<span class=\"_ _7\"/>xposure per currency taking into account a maximum impact on the total net investment position. Cur<span class=\"_ _7\"/>r<span class=\"_ _7\"/>ency r<span class=\"_ _7\"/>isk ar<span class=\"_ _7\"/>ising from net-debt position Due to the Priv<span class=\"_ _7\"/>ate Placements and other net-debt items in foreign currency<span class=\"_ _9\"/>, the Group is exposed to cur<span class=\"_ _7\"/>rency risk. It is the Group\u2019<span class=\"_ _9\"/>s policy to hedge this exposure to leav<span class=\"_ _7\"/>e the Group with no material risks by making use of f<span class=\"_ _7\"/>oreign currency contracts, cross-currency sw<span class=\"_ _7\"/>aps and natural hedges (net in<span class=\"_ _7\"/>vestment hedges). <span class=\"_ _3\"/>All currency hedges for the years presented were highly ef<span class=\"_ _3\"/>f<span class=\"_ _7\"/>ective.  Cur<span class=\"_ _7\"/>r<span class=\"_ _7\"/>ency r<span class=\"_ _7\"/>isk ar<span class=\"_ _7\"/>ising from lease liabilities The Group is also e<span class=\"_ _7\"/>xposed to currency risk related to lease liabilities in the limited instances where the contract currency is dif<span class=\"_ _3\"/>ferent from the functional cur<span class=\"_ _7\"/>rency of the entit<span class=\"_ _5\"/>y concerned. This primarily concerns joint v<span class=\"_ _7\"/>entures and associates and not subsidiaries. <span class=\"_ _8\"/>These currency risks are normally not hedged.  The ef<span class=\"_ _3\"/>f<span class=\"_ _7\"/>ects of the foreign currency related hedging instr<span class=\"_ _7\"/>uments on the Group\u2019<span class=\"_ _9\"/>s financial position and financial results are shown in the table below: Car<span class=\"_ _7\"/>rying amount Ineff<span class=\"_ _3\"/>ectiveness Change in v<span class=\"_ _3\"/>alue of recogniz<span class=\"_ _7\"/>ed in 1 1 In EUR millions <span class=\"_ _2bc\"> </span><span class=\"fs7 fc7\">Matur<span class=\"_ _3\"/>ity <span class=\"_ _108\"> </span>Assets </span>Liabilities Notional amount <span class=\"_ _d0\"> </span>Hedg<span class=\"_ _7\"/>e ratio hedged it<span class=\"_ _7\"/>em income statement 31 December 2021 2 F<span class=\"_ _7\"/>or<span class=\"_ _5\"/>ward foreign currency contracts &lt; 1 year <span class=\"_ _121\"> </span>\u2013 <span class=\"_ _1be\"> </span>3.9 <span class=\"_ _86\"> </span>189.9 <span class=\"_ _1ce\"> </span>1<span class=\"_ _3\"/>0<span class=\"_ _5\"/>0% T<span class=\"_ _8\"/>otal net investment hedges \u2013 <span class=\"_ _f4\"> </span>3.9 <span class=\"_ _fa\"> </span>189.9 <span class=\"_ _fa\"> </span>1<span class=\"_ _3\"/>0<span class=\"_ _5\"/>0% <span class=\"_ _130\"> </span>- 15.0 <span class=\"_ _121\"> </span>\u2013 3 Cross-currency interest rate swaps 1<span class=\"_ _3\"/>-5 years <span class=\"_ _84\"> </span>35.1 <span class=\"_ _179\"> </span>\u2013 <span class=\"_ _6f\"> </span>458.6 <span class=\"_ _1ce\"> </span>1<span class=\"_ _7\"/>00% 3 Cross-currency interest rate swaps &gt; 5 years <span class=\"_ _178\"> </span>0.5 <span class=\"_ _179\"> </span>\u2013 <span class=\"_ _84\"> </span>66.6 <span class=\"_ _1ce\"> </span>1<span class=\"_ _3\"/>0<span class=\"_ _5\"/>0% T<span class=\"_ _8\"/>otal cash flow hedges 35.6 <span class=\"_ _121\"> </span>\u2013 <span class=\"_ _fa\"> </span>525.2 <span class=\"_ _fa\"> </span>1<span class=\"_ _3\"/>0<span class=\"_ _5\"/>0% <span class=\"_ _1a5\"> </span>- 1.2 <span class=\"_ _173\"> </span>0.4 F<span class=\"_ _7\"/>or<span class=\"_ _5\"/>ward foreign currency contracts <span class=\"_ _cd\"> </span>&lt; 1 year <span class=\"_ _1be\"> </span>8.0 <span class=\"_ _1be\"> </span>3.7 <span class=\"_ _86\"> </span>836.3 <span class=\"_ _17f\"> </span>n/a T<span class=\"_ _8\"/>otal deriv<span class=\"_ _7\"/>atives no hedg<span class=\"_ _7\"/>e accounting 8.0 <span class=\"_ _f4\"> </span>3.7 <span class=\"_ _fa\"> </span>836.3 <span class=\"_ _172\"> </span>n/a<span class=\"_ _178\"> </span>n/a<span class=\"_ _148\"> </span>n/aT<span class=\"_ _8\"/>otal deriv<span class=\"_ _3\"/>ative financial instr<span class=\"_ _7\"/>uments <span class=\"_ _16f\"> </span>43.6 <span class=\"_ _198\"> </span>7<span class=\"_ _1\"/>.6 <span class=\"_ _113\"> </span>1,551.4 <span class=\"_ _130\"> </span>1<span class=\"_ _7\"/>0<span class=\"_ _5\"/>0% <span class=\"_ _130\"> </span>- 16.2 <span class=\"_ _f4\"> </span>0.4 31 December 2022 2 F<span class=\"_ _7\"/>or<span class=\"_ _5\"/>ward foreign currency contracts &lt; 1 year <span class=\"_ _198\"> </span>1<span class=\"_ _9\"/>.0 <span class=\"_ _121\"> </span>\u2013 <span class=\"_ _187\"> </span>130.3 <span class=\"_ _29b\"> </span>1<span class=\"_ _3\"/>0<span class=\"_ _5\"/>0% T<span class=\"_ _8\"/>otal net investment hedges 1<span class=\"_ _7\"/>.0 <span class=\"_ _121\"> </span>\u2013 <span class=\"_ _fa\"> </span>130.3 <span class=\"_ _fa\"> </span>1<span class=\"_ _3\"/>0<span class=\"_ _5\"/>0% <span class=\"_ _197\"> </span>- 3.0 <span class=\"_ _121\"> </span>\u2013 3 Cross-currency interest rate swaps &lt; 1 year <span class=\"_ _3d\"> </span>45.5 <span class=\"_ _179\"> </span>\u2013 <span class=\"_ _86\"> </span>246.1 <span class=\"_ _1ce\"> </span>1<span class=\"_ _3\"/>00% 3 Cross-currency interest rate swaps 1<span class=\"_ _3\"/>-5 years <span class=\"_ _178\"> </span>8.5 <span class=\"_ _137\"> </span>1<span class=\"_ _9\"/>.7 <span class=\"_ _86\"> </span>212.5<span class=\"_ _b6\"> </span>1<span class=\"_ _3\"/>00% 3 Cross-currency interest rate swaps &gt; 5 years <span class=\"_ _178\"> </span>6.6 <span class=\"_ _179\"> </span>\u2013 <span class=\"_ _84\"> </span>66.6 <span class=\"_ _1ce\"> </span>1<span class=\"_ _3\"/>0<span class=\"_ _5\"/>0% T<span class=\"_ _8\"/>otal cash flow hedges 60.6 <span class=\"_ _148\"> </span>1<span class=\"_ _7\"/>.7 <span class=\"_ _fa\"> </span>525.2<span class=\"_ _1ad\"> </span>1<span class=\"_ _3\"/>0<span class=\"_ _5\"/>0% <span class=\"_ _f6\"> </span>15.3 <span class=\"_ _121\"> </span>\u2013 F<span class=\"_ _7\"/>or<span class=\"_ _5\"/>ward foreign currency contracts <span class=\"_ _cd\"> </span>&lt; 1 year <span class=\"_ _162\"> </span>1<span class=\"_ _9\"/>1<span class=\"_ _9\"/>.8 <span class=\"_ _1be\"> </span>4.3 <span class=\"_ _86\"> </span>708.1 <span class=\"_ _17f\"> </span>n/a T<span class=\"_ _8\"/>otal deriv<span class=\"_ _7\"/>atives no hedg<span class=\"_ _7\"/>e accounting 1<span class=\"_ _9\"/>1.8 <span class=\"_ _173\"> </span>4.3 <span class=\"_ _29b\"> </span>708.1 <span class=\"_ _172\"> </span>n/a<span class=\"_ _178\"> </span>n/a<span class=\"_ _148\"> </span>n/a4 T<span class=\"_ _8\"/>otal deriv<span class=\"_ _3\"/>ative financial instr<span class=\"_ _7\"/>uments 73.4 <span class=\"_ _f4\"> </span>6.0 <span class=\"_ _81\"> </span>1,363.6<span class=\"_ _1ad\"> </span>1<span class=\"_ _3\"/>0<span class=\"_ _5\"/>0% <span class=\"_ _1a5\"> </span>12.3 <span class=\"_ _121\"> </span>\u2013 1 <span class=\"_ _b3\"> </span>At fair v<span class=\"_ _7\"/>alue. 2 <span class=\"_ _b3\"> </span>F<span class=\"_ _7\"/>oreign currency for<span class=\"_ _5\"/>wards accounted f<span class=\"_ _7\"/>or as hedges on net investments. 3 <span class=\"_ _b3\"> </span>Cross currency interest swaps accounted f<span class=\"_ _7\"/>or as cash flow hedges are used to hedge currency (2022: USD 468 million and JPY 20 billion; 2021: USD 468 million and JPY 20 billion) on fix<span class=\"_ _7\"/>ed debt denominated in foreign currency<span class=\"_ _3\"/>. 4 <span class=\"_ _b3\"> </span>This is the inef<span class=\"_ _3\"/>fectiveness resulting from the FX as w<span class=\"_ _7\"/>ell as the interest part of the hedge. Of the total amount of interest-bearing debt denominated in a foreign currency per y<span class=\"_ _7\"/>ear<span class=\"_ _9\"/>-end 2022, 1<span class=\"_ _3\"/>00% (2021: 1<span class=\"_ _3\"/>0<span class=\"_ _5\"/>0%) was hedged via deriv<span class=\"_ _7\"/>atives f<span class=\"_ _7\"/>or whic<span class=\"_ _7\"/>h either cash flow hedge accounting, net investment hedge accounting or no hedge accounting w<span class=\"_ _7\"/>as applied.   At year<span class=\"_ _9\"/>-end 2022, 36% (2021: 36%) of the currency risk w<span class=\"_ _3\"/>as hedged via cash flow hedges. The total nominal amount of net inv<span class=\"_ _7\"/>estments (hedged items) included in a net inv<span class=\"_ _7\"/>estment hedge relationship amounted to EUR 792.9 million as at year<span class=\"_ _9\"/>-end 2022 (2021: EUR 889.5 million). Of this amount EUR 663.6 million (2021: EUR 695.3 million) was hedged via f<span class=\"_ _7\"/>oreign currency interest-bearing debt and EUR 1<span class=\"_ _3\"/>29.3 million (2021: EUR 1<span class=\"_ _3\"/>94.2 million) via derivatives. <span class=\"_ _7\"/>Also taking into account the investment in entities, in whic<span class=\"_ _3\"/>h functional currency is EUR, the tot<span class=\"_ _5\"/>al unhedged position amounted to EUR 1,821<span class=\"_ _8\"/>.7 million or 61% (2021: EUR 1,484.7 million or 47%). Ref<span class=\"_ _3\"/>erence is made to note 6.2 for a reconciliation between the amounts presented in the table above and the amounts recogniz<span class=\"_ _7\"/>ed in the Consolidated Statement of Financial P<span class=\"_ _7\"/>osition. F<span class=\"_ _7\"/>or all cash flow hedges related to currency and interest rate risk, a loss of  EUR 32.2 million, net of tax was recognized in equity via OCI up to 31 December 2022 (2021: EUR 94.9 million (loss)) (see note 5.2). Cur<span class=\"_ _7\"/>r<span class=\"_ _7\"/>ency translation r<span class=\"_ _3\"/>isk F<span class=\"_ _3\"/>urthermore, a foreign currency translation risk results from in<span class=\"_ _7\"/>vestments in f<span class=\"_ _7\"/>oreign operations of whic<span class=\"_ _3\"/>h the net assets are exposed to foreign currency translation risk. <span class=\"_ _8\"/>The Group result is also impacted by translating the results of these f<span class=\"_ _7\"/>oreign currency operations. This non-economic cur<span class=\"_ _7\"/>rency risk is caused by the accounting conv<span class=\"_ _3\"/>entions applied for translating the net assets and results of foreign operations to the presentation currency of the Group, whic<span class=\"_ _3\"/>h is the euro. For more inf<span class=\"_ _7\"/>ormation, ref<span class=\"_ _7\"/>erence is made to note 2.8. Sensitivity of exc<span class=\"_ _7\"/>hange r<span class=\"_ _7\"/>ate c<span class=\"_ _7\"/>hanges of financial instr<span class=\"_ _3\"/>uments on net profit and equity The v<span class=\"_ _7\"/>alue of debt and hedging instruments denominated in cur<span class=\"_ _7\"/>rencies other than the functional currency of the entities holding them is subject to e<span class=\"_ _7\"/>xc<span class=\"_ _3\"/>hange rate movements. <span class=\"_ _8\"/>The sensitivity analysis for the main cur<span class=\"_ _7\"/>rencies and their positions at 31 December 2022 and 31 December 2021 shows ho<span class=\"_ _7\"/>w c<span class=\"_ _3\"/>hanges in exc<span class=\"_ _3\"/>hange rates by 1<span class=\"_ _9\"/>0% aff<span class=\"_ _3\"/>ect net profit and equity<span class=\"_ _3\"/>, while t<span class=\"_ _5\"/>aking into account the ef<span class=\"_ _3\"/>fect of the use of deriv<span class=\"_ _7\"/>atives and the hedge accounting applied. 1 1 Depreciation Appreciation In EUR millions <span class=\"_ _91\"> </span>Net profit <span class=\"_ _228\"> </span>Equity <span class=\"_ _76\"> </span><span class=\"fc7\">Net profit <span class=\"_ _228\"> </span>Equity </span>31 December 2021 USD <span class=\"_ _1a1\"> </span>- 1<span class=\"_ _8\"/>.2 <span class=\"_ _18a\"> </span>- 32.7 <span class=\"_ _113\"> </span>1<span class=\"_ _9\"/>.5 <span class=\"_ _45\"> </span>40.0 SGD <span class=\"_ _23e\"> </span>- 0.5 <span class=\"_ _18a\"> </span>- 30.7 <span class=\"_ _1bc\"> </span>0.7 <span class=\"_ _108\"> </span>37<span class=\"_ _1\"/>.5 CNY <span class=\"_ _23d\"> </span>- 1<span class=\"_ _9\"/>.3 <span class=\"_ _e6\"> </span>- 30.4 <span class=\"_ _8b\"> </span>1<span class=\"_ _9\"/>.5 <span class=\"_ _88\"> </span>37<span class=\"_ _1\"/>.1 BRL <span class=\"_ _1a1\"> </span>- 0.2 <span class=\"_ _108\"> </span>- 7<span class=\"_ _1\"/>.9 <span class=\"_ _db\"> </span>0.3 <span class=\"_ _db\"> </span>9.6 JPY <span class=\"_ _9e\"> </span>\u2013 <span class=\"_ _2f\"> </span>- 1<span class=\"_ _9\"/>.0 <span class=\"_ _130\"> </span>\u2013 <span class=\"_ _113\"> </span>1<span class=\"_ _9\"/>.3 T<span class=\"_ _8\"/>otal eff<span class=\"_ _7\"/>ect <span class=\"_ _cd\"> </span><span class=\"fc0\">- 3.2 <span class=\"_ _228\"> </span>- 102.7 <span class=\"_ _41\"> </span></span>4.0 <span class=\"_ _53\"> </span>125.5 31 December 2022 USD <span class=\"_ _23e\"> </span>- 2.3 <span class=\"_ _18a\"> </span>- 38.8 <span class=\"_ _1bc\"> </span>2.8 <span class=\"_ _108\"> </span>47<span class=\"_ _1\"/>.5 SGD <span class=\"_ _2bd\"> </span>1<span class=\"_ _9\"/>.5 <span class=\"_ _e6\"> </span>- 38.6 <span class=\"_ _2f\"> </span>- 1<span class=\"_ _9\"/>.8 <span class=\"_ _88\"> </span>47<span class=\"_ _8\"/>.2 CNY <span class=\"_ _23d\"> </span>- 1<span class=\"_ _9\"/>.0 <span class=\"_ _e6\"> </span>- 28.2 <span class=\"_ _8b\"> </span>1<span class=\"_ _9\"/>.3 <span class=\"_ _45\"> </span>34.4 BRL <span class=\"_ _1a1\"> </span>- 0.1 <span class=\"_ _45\"> </span>- 9.4 <span class=\"_ _db\"> </span>0.1 <span class=\"_ _3f\"> </span>1<span class=\"_ _9\"/>1<span class=\"_ _9\"/>.5 JPY <span class=\"_ _9e\"> </span>\u2013 <span class=\"_ _45\"> </span>- 0.5 <span class=\"_ _130\"> </span>\u2013 <span class=\"_ _db\"> </span>0.6 T<span class=\"_ _8\"/>otal eff<span class=\"_ _7\"/>ect <span class=\"_ _145\"> </span>- 1<span class=\"_ _7\"/>.9 <span class=\"_ _e1\"> </span>- 1<span class=\"_ _3\"/>15.5 <span class=\"_ _cb\"> </span><span class=\"fcb\">2.4 <span class=\"_ _131\"> </span>141<span class=\"_ _7\"/>.2 </span>1 <span class=\"_ _b3\"> </span>F<span class=\"_ _7\"/>oreign currency against the euro. Note 6.4 Int<span class=\"_ _3\"/>erest r<span class=\"_ _7\"/>ate r<span class=\"_ _3\"/>isk V<span class=\"_ _3\"/>opak\u2019<span class=\"_ _9\"/>s policy on interest rate risks aims to control the interest expenses resulting from fluctuations in the financial mark<span class=\"_ _7\"/>et interest rates, to protect the projected gross result of V<span class=\"_ _3\"/>opak and taking into account the long-term profile of the company<span class=\"_ _9\"/>. Fixed-rate debt exposes the Group to fair v<span class=\"_ _7\"/>alue risk. Floating-rate debt exposes the Group to cash flo<span class=\"_ _7\"/>w risk. <span class=\"_ _9\"/>T<span class=\"_ _7\"/>he specification of the total interest-bearing loans is disclosed in note 5.5. It is <span class=\"_ _3\"/>V<span class=\"_ _3\"/>opak\u2019<span class=\"_ _9\"/>s long-termpolicy to manage its interest exposure to an acceptable lev<span class=\"_ _7\"/>el of fixed/floating to optimiz<span class=\"_ _7\"/>e net finance expenses and reduce v<span class=\"_ _7\"/>olatility on the net result within the bandwidth of the interest related financial cov<span class=\"_ _7\"/>enants.  Interest rate swaps ma<span class=\"_ _7\"/>y be used in order to minimize the interest rate risks associated with the financing of the Group and at the same time optimize the net interest costs. Interest raterisks are identified and possible hedges considered when obtaining or providing new financing.  There w<span class=\"_ _7\"/>ere no interest rate derivativ<span class=\"_ _7\"/>es present in the years presented. As at 31 December 2022, taking into account the interest rate swaps, 70% (2021: 69%) of the total interest-bearing loans and bank loans of EUR 2,358.5 million (2021: EUR 2,284.6 million) was financed at a fix<span class=\"_ _7\"/>ed interest rate with remaining terms of up to 1<span class=\"_ _7\"/>8 years (2021: 1<span class=\"_ _3\"/>8 years). The a<span class=\"_ _7\"/>verage fix<span class=\"_ _7\"/>ed interest and the av<span class=\"_ _7\"/>erage floating interest on the interest-bearing loans and bank loans at 31 December 2022 were 3.9% (2021: 3.8%) and 3.1% (2021: 1<span class=\"_ _1\"/>.3%) respectively<span class=\"_ _9\"/>. <span class=\"_ _9\"/>The f<span class=\"_ _3\"/>ollowing statement provides insight into the interest repricing calendar for the interest-bearing loans and the bank loans at the statement of the financial position date, while taking into account the eff<span class=\"_ _3\"/>ects of the derivativ<span class=\"_ _7\"/>es that may be present and the hedge accounting applied. All interest-bearing loans with a floating interest rate are re-priced within one year<span class=\"_ _9\"/>. 31 December 2022 <span class=\"_ _182\"> </span>31 December 2021 In EUR millions <span class=\"_ _11f\"> </span>Floating <span class=\"_ _1a2\"> </span>Fixed <span class=\"_ _ad\"> </span>T<span class=\"_ _9\"/>otal <span class=\"_ _10b\"> </span><span class=\"fc7\">Floating <span class=\"_ _11\"> </span>Fixed <span class=\"_ _ad\"> </span>T<span class=\"_ _9\"/>otal </span>&lt; 1 year <span class=\"_ _134\"> </span>- 416.5 <span class=\"_ _1a\"> </span>- 279.3 <span class=\"_ _9d\"> </span>- 695.8 <span class=\"_ _1a\"> </span>- 462.0 <span class=\"_ _bd\"> </span>- 0.3 <span class=\"_ _1a\"> </span>- 462.3 1<span class=\"_ _3\"/>-2 years <span class=\"_ _28a\"> </span>\u2013 <span class=\"_ _16\"> </span>- 21<span class=\"_ _9\"/>1<span class=\"_ _9\"/>.9 <span class=\"_ _b2\"> </span>- 21<span class=\"_ _9\"/>1<span class=\"_ _9\"/>.9 <span class=\"_ _9d\"> </span>- 239.8 <span class=\"_ _1a\"> </span>- 265.2 <span class=\"_ _9d\"> </span>- 505.0 2-3 years <span class=\"_ _ae\"> </span>\u2013 <span class=\"_ _9d\"> </span>- 272.3 <span class=\"_ _9d\"> </span>- 272.3 <span class=\"_ _4d\"> </span>\u2013 <span class=\"_ _9d\"> </span>- 203.3 <span class=\"_ _1a\"> </span>- 203.3 3-4 years <span class=\"_ _ae\"> </span>\u2013 <span class=\"_ _22c\"> </span>- 69.5 <span class=\"_ _ad\"> </span>- 69.5 <span class=\"_ _228\"> </span>\u2013 <span class=\"_ _9d\"> </span>- 256.9 <span class=\"_ _1a\"> </span>- 256.9 4-5 years <span class=\"_ _ae\"> </span>\u2013 <span class=\"_ _b2\"> </span>- 557<span class=\"_ _1\"/>.8 <span class=\"_ _b2\"> </span>- 557<span class=\"_ _d\"/>.8 <span class=\"_ _228\"> </span>\u2013 <span class=\"_ _22c\"> </span>- 66.0 <span class=\"_ _ad\"> </span>- 66.0 &gt; 5 years <span class=\"_ _19d\"> </span>\u2013 <span class=\"_ _233\"> </span>- 551<span class=\"_ _9\"/>.2 <span class=\"_ _233\"> </span>- 551<span class=\"_ _9\"/>.2 <span class=\"_ _4d\"> </span>\u2013 <span class=\"_ _233\"> </span>- 791<span class=\"_ _9\"/>.1 <span class=\"_ _1b\"> </span>- 791<span class=\"_ _9\"/>.1 T<span class=\"_ _8\"/>otal <span class=\"_ _c8\"> </span><span class=\"fc0\">- 416.5 <span class=\"_ _12\"> </span>- 1,942.0 <span class=\"_ _13\"> </span>- 2,358.5 <span class=\"_ _120\"> </span></span>- 70<span class=\"_ _7\"/>1<span class=\"_ _7\"/>.8 <span class=\"_ _13\"> </span>- 1,582.8 <span class=\"_ _12\"> </span>- 2,284.6 Sensitivity to c<span class=\"_ _7\"/>hanges in mar<span class=\"_ _3\"/>k<span class=\"_ _7\"/>et inter<span class=\"_ _7\"/>est rat<span class=\"_ _7\"/>es  The sensitivity analysis sho<span class=\"_ _7\"/>ws how c<span class=\"_ _3\"/>hanges in market interest rates af<span class=\"_ _3\"/>fect net profit and equity<span class=\"_ _3\"/>, while t<span class=\"_ _5\"/>aking into account the ef<span class=\"_ _3\"/>fects of the deriv<span class=\"_ _7\"/>atives and the hedge accounting applied and assuming that all other variables remain constant. Due to the volatility of market interest rates, <span class=\"_ _3\"/>V<span class=\"_ _9\"/>opak has used a fixed percentage of 25% as a reasonable possible change at year<span class=\"_ _9\"/>-end 2022 and y<span class=\"_ _7\"/>ear<span class=\"_ _9\"/>-end 2021<span class=\"_ _8\"/>. Increase 25% <span class=\"_ _d9\"> </span>Decrease 25% Closing level 1 1 In EUR millions 3-month <span class=\"_ _1e\"> </span><span class=\"fc0\">Net profit <span class=\"_ _fd\"> </span>Equity </span>Net profit <span class=\"_ _fd\"> </span>Equity 31 December 2021 EUR <span class=\"_ _68\"> </span>-0.57% <span class=\"_ _20\"> </span>- 1<span class=\"_ _9\"/>.4 <span class=\"_ _d9\"> </span>1<span class=\"_ _9\"/>.0 <span class=\"_ _bd\"> </span>- 0.4 <span class=\"_ _c2\"> </span>- 1<span class=\"_ _8\"/>.0 USD <span class=\"_ _9e\"> </span>0.21% <span class=\"_ _228\"> </span>\u2013 <span class=\"_ _c9\"> </span>2.3 <span class=\"_ _228\"> </span>\u2013 <span class=\"_ _bd\"> </span>- 2.4 SGD <span class=\"_ _9e\"> </span>0.36% <span class=\"_ _bd\"> </span>- 0.5 <span class=\"_ _c9\"> </span>0.1 <span class=\"_ _c9\"> </span>0.5 <span class=\"_ _bd\"> </span>- 0.1 JPY <span class=\"_ _1e2\"> </span>-0.08% <span class=\"_ _228\"> </span>\u2013 <span class=\"_ _4d\"> </span>\u2013 <span class=\"_ _228\"> </span>\u2013 <span class=\"_ _228\"> </span>\u2013 T<span class=\"_ _8\"/>otal eff<span class=\"_ _7\"/>ect <span class=\"_ _1c5\"> </span>- 1<span class=\"_ _7\"/>.9 <span class=\"_ _ea\"> </span>3.4 <span class=\"_ _ea\"> </span><span class=\"fcb\">0.1 <span class=\"_ _76\"> </span>- 3.5 </span>31 December 2022 EUR <span class=\"_ _1c8\"> </span>2.13% <span class=\"_ _f7\"> </span>- 7<span class=\"_ _1\"/>.6 <span class=\"_ _fb\"> </span>1<span class=\"_ _9\"/>1<span class=\"_ _9\"/>.2 <span class=\"_ _95\"> </span>7<span class=\"_ _1\"/>.6 <span class=\"_ _3a\"> </span>- 1<span class=\"_ _9\"/>1<span class=\"_ _9\"/>.6 USD <span class=\"_ _9e\"> </span>4.77% <span class=\"_ _95\"> </span>1<span class=\"_ _8\"/>.4 <span class=\"_ _c9\"> </span>3.4 <span class=\"_ _c2\"> </span>- 1<span class=\"_ _9\"/>.4 <span class=\"_ _bd\"> </span>- 3.7 SGD <span class=\"_ _9e\"> </span>4.21% <span class=\"_ _c2\"> </span>- 1<span class=\"_ _9\"/>.8 <span class=\"_ _c9\"> </span>0.1 <span class=\"_ _d9\"> </span>1<span class=\"_ _9\"/>.8 <span class=\"_ _bd\"> </span>- 0.1 JPY <span class=\"_ _1e2\"> </span>-0.03% <span class=\"_ _228\"> </span>\u2013 <span class=\"_ _bd\"> </span>- 0.1 <span class=\"_ _4d\"> </span>\u2013 <span class=\"_ _c9\"> </span>0.1 T<span class=\"_ _8\"/>otal eff<span class=\"_ _7\"/>ect <span class=\"_ _114\"> </span><span class=\"fc0\">- 8.0 <span class=\"_ _ce\"> </span>14.6 <span class=\"_ _ea\"> </span></span>8.0 <span class=\"_ _11\"> </span>- 15.3 1 <span class=\"_ _b3\"> </span>Re<span class=\"_ _7\"/>valuation reser<span class=\"_ _5\"/>ve deriv<span class=\"_ _7\"/>atives through Other comprehensiv<span class=\"_ _7\"/>e income. Note 6.5 Equity secur<span class=\"_ _3\"/>ities pr<span class=\"_ _3\"/>ice risk A<span class=\"_ _1e\"> </span><span class=\"ff3 fs9\">Accounting policies </span>Equity investments that are not classified as a subsidiary<span class=\"_ _3\"/>, joint venture or associate are measured at fair v<span class=\"_ _7\"/>alue (lev<span class=\"_ _7\"/>el 3). Gains and losses on these inv<span class=\"_ _7\"/>estments will either be recorded in the Income statement or Other comprehensive income, depending on whether the Group has made an irre<span class=\"_ _7\"/>vocable election at the time of initial recognition to account for the equity investment at f<span class=\"_ _7\"/>air value through other comprehensiv<span class=\"_ _7\"/>e income. <span class=\"_ _9\"/>T<span class=\"_ _7\"/>he fair value is based on the discounted cash flow approac<span class=\"_ _3\"/>h or recent market transaction. Where the Group has elected to present fair v<span class=\"_ _7\"/>alue gains and losses on equity investments in OCI, there is no subsequent reclassification of fair v<span class=\"_ _7\"/>alue gains and losses to the income statement following the div<span class=\"_ _7\"/>estment of equity investment. Dividends from equity inv<span class=\"_ _7\"/>estments are recognized in the income statement as dividend income, whic<span class=\"_ _3\"/>h is classified as Other income, when the Group\u2019<span class=\"_ _9\"/>s right to receive pa<span class=\"_ _7\"/>yments is est<span class=\"_ _5\"/>ablished. The Group has 1<span class=\"_ _3\"/>9 equity investments (2021: 1<span class=\"_ _3\"/>5) for a total amount of EUR 94.0 million at year<span class=\"_ _9\"/>-end 2022 (2021: EUR 83.6 million), of whic<span class=\"_ _3\"/>h the inv<span class=\"_ _7\"/>estment in SabT<span class=\"_ _9\"/>ank (Saudi Arabia) and Hydrogenious are the largest. Our 1<span class=\"_ _9\"/>0<span class=\"_ _5\"/>0% in<span class=\"_ _7\"/>vestment in <span class=\"_ _9\"/>V<span class=\"_ _3\"/>enezuela is also classified as an equity investment. <span class=\"_ _8\"/>The other equity inv<span class=\"_ _7\"/>estments are investments held b<span class=\"_ _3\"/>y <span class=\"_ _3\"/>V<span class=\"_ _3\"/>opak <span class=\"_ _3\"/>V<span class=\"_ _3\"/>entures B<span class=\"_ _7\"/>.V<span class=\"_ _8\"/>.The Group elected to measure all in<span class=\"_ _7\"/>vestments at f<span class=\"_ _7\"/>air value through other comprehensiv<span class=\"_ _7\"/>e income as these entities are part of the <span class=\"_ _3\"/>V<span class=\"_ _9\"/>opak net<span class=\"_ _5\"/>work, pro<span class=\"_ _7\"/>vide storage and handling (relatedser<span class=\"_ _5\"/>vices) and are not held for trading. Deconsolidation <span class=\"_ _21\"/>of V<span class=\"_ _3\"/>opak V<span class=\"_ _9\"/>enezuela In 20<span class=\"_ _3\"/>1<span class=\"_ _7\"/>8, <span class=\"_ _3\"/>V<span class=\"_ _3\"/>opak deconsolidated its wholly-o<span class=\"_ _7\"/>wned terminal in <span class=\"_ _3\"/>V<span class=\"_ _3\"/>enezuela, reflecting the conclusion that the Group no longer had control from an accounting perspective. It w<span class=\"_ _7\"/>as obser<span class=\"_ _5\"/>ved that the economic, legal, social and political en<span class=\"_ _7\"/>vironment in whic<span class=\"_ _3\"/>h the terminal operates was continuously deteriorating. Strict currency controls continued to be applicable and inflation ex<span class=\"_ _7\"/>ceeded one million percent in 20<span class=\"_ _3\"/>1<span class=\"_ _7\"/>8.     V<span class=\"_ _3\"/>opak continues to monitor the situation and will periodically assess whether f<span class=\"_ _3\"/>acts and circumstances have c<span class=\"_ _3\"/>hanged and whether control has been regained ov<span class=\"_ _7\"/>er the entity in V<span class=\"_ _3\"/>enezuela. <span class=\"_ _9\"/>V<span class=\"_ _3\"/>opak remains the 1<span class=\"_ _3\"/>0<span class=\"_ _5\"/>0% shareholder in the entity and continues to operate the company in line with <span class=\"_ _9\"/>V<span class=\"_ _3\"/>opak\u2019<span class=\"_ _9\"/>s st<span class=\"_ _5\"/>andards. F<span class=\"_ _7\"/>or more information on the equity inv<span class=\"_ _7\"/>estments, other than inv<span class=\"_ _7\"/>estments in subsidiaries, joint vent<span class=\"_ _7\"/>ures and associates, ref<span class=\"_ _7\"/>erence is made to note 9.6. Note 6.6 Cr<span class=\"_ _3\"/>edit r<span class=\"_ _7\"/>isk Credit risk arises when a customer or other counterparty of a financial instrument fails to disc<span class=\"_ _3\"/>harge its contractual obligation. V<span class=\"_ _3\"/>opak\u2019<span class=\"_ _9\"/>s credit risk arises primarily from loans granted, finance lease receivables, trade and other receivables, cash and cash equiv<span class=\"_ _7\"/>alents, and derivativ<span class=\"_ _7\"/>e financial instruments. <span class=\"_ _9\"/>V<span class=\"_ _3\"/>opak\u2019<span class=\"_ _9\"/>s maximum exposure to credit risks is the car<span class=\"_ _7\"/>r<span class=\"_ _5\"/>ying amount of these financial assets, amounting to EUR 603.3 million (2021: EUR 553.4 million), and the credit replacing guarantees amounting to EUR 89.4 million (2021: EUR 85.8 million). Of this amount, nil was recognized in the statement of financial position at year<span class=\"_ _9\"/>-end 2022 (2021: nil). F<span class=\"_ _3\"/>urthermore, the macro-economic and geopolitical uncertaint<span class=\"_ _5\"/>y had no material ef<span class=\"_ _7\"/>f<span class=\"_ _7\"/>ect on the credit risk exposure of the financial instr<span class=\"_ _7\"/>uments in an asset position. No loans were granted to joint v<span class=\"_ _7\"/>entures and associates at y<span class=\"_ _7\"/>ear<span class=\"_ _9\"/>-end 2022. Loans to other third parties are generally secured, and mainly relate to loans to non-controlling shareholders.  F<span class=\"_ _7\"/>or more information on the credit risk of the trade receiv<span class=\"_ _7\"/>ables, ref<span class=\"_ _7\"/>erence is made to note 4.2. Risk management The credit risk with regard to trade receiv<span class=\"_ _7\"/>ables and lease receivables from customers is limited as the value of the product stored f<span class=\"_ _7\"/>or these clients usually ex<span class=\"_ _7\"/>ceeds the value of the receivables and <span class=\"_ _9\"/>V<span class=\"_ _3\"/>opak generally has the right of retention although other claims may ha<span class=\"_ _7\"/>ve priority ranking over the right of retention in a bankr<span class=\"_ _7\"/>uptcy case. <span class=\"_ _9\"/>V<span class=\"_ _3\"/>opak const<span class=\"_ _5\"/>antly monitors the outstanding receivables and the value of the stored products. See note 4.2 f<span class=\"_ _7\"/>or further details. V<span class=\"_ _3\"/>opak has spread its cash and cash equivalents and other liquidity inv<span class=\"_ _7\"/>estments across a select group of high rated financial institutions while daily limiting the cash and cash equivalents within the Group and assessing the e<span class=\"_ _7\"/>xposure to eac<span class=\"_ _3\"/>h financial institution. <span class=\"_ _3\"/>V<span class=\"_ _3\"/>opak applies credit limits per institution, depending on their credit ratings and credit def<span class=\"_ _7\"/>ault swap spread, and regularly revie<span class=\"_ _7\"/>ws these limits. <span class=\"_ _9\"/>T<span class=\"_ _7\"/>hese treasur<span class=\"_ _5\"/>y activities are concluded with financial institutions that ha<span class=\"_ _7\"/>ve at least an <span class=\"_ _3\"/>A- St<span class=\"_ _5\"/>andard &amp; P<span class=\"_ _3\"/>oor<span class=\"_ _5\"/>\u2019<span class=\"_ _9\"/>s credit rating<span class=\"_ _5\"/>. At 31 December 2022, the maximum risk in the ev<span class=\"_ _7\"/>ent of the default of a single financial institution amounted to EUR 1<span class=\"_ _3\"/>9.5 million (2021: EUR 20.7 million). The deriv<span class=\"_ _7\"/>ative financial instr<span class=\"_ _7\"/>uments will be set<span class=\"_ _3\"/>tled on a gross basis. <span class=\"_ _9\"/>The credit risk of derivativ<span class=\"_ _7\"/>e financial instruments with a positiv<span class=\"_ _7\"/>e value is mitigated b<span class=\"_ _7\"/>y ISD<span class=\"_ _3\"/>A Master Agreements with counterparties, whic<span class=\"_ _3\"/>h hav<span class=\"_ _7\"/>e the option to set<span class=\"_ _7\"/>tle all gross amounts on a net basis in the ev<span class=\"_ _7\"/>ent of a default of the counterparty<span class=\"_ _3\"/>, and by set<span class=\"_ _3\"/>ting qualitative and financial limits for the deriv<span class=\"_ _7\"/>ative counterparties. <span class=\"_ _8\"/>The Group maintains a control system that includes the authorization, reporting and monitoring of derivativ<span class=\"_ _7\"/>e activities including the Credit Default Sw<span class=\"_ _7\"/>aps dev<span class=\"_ _7\"/>elopments of counterparties obser<span class=\"_ _5\"/>ved on the secondary market. <span class=\"_ _3\"/>V<span class=\"_ _3\"/>opak believ<span class=\"_ _7\"/>es there are no material credit risks related to derivativ<span class=\"_ _7\"/>es in the Group\u2019<span class=\"_ _9\"/>s financial position. At year<span class=\"_ _9\"/>-end 2022, the deriv<span class=\"_ _7\"/>atives with a counterparty credit risk amounted to EUR 2.0 million (2021: EUR 0.5 million). Assessing the financial positions of customers and other counterparties is part of the Group\u2019<span class=\"_ _9\"/>s credit risk management and tendering process; how<span class=\"_ _7\"/>ever<span class=\"_ _9\"/>, this cannot ex<span class=\"_ _7\"/>clude all credit risk. Note 6.7 Liquidity r<span class=\"_ _3\"/>isk The primary objective of liquidity management is providing suf<span class=\"_ _7\"/>ficient cash and cash equivalents at all times to enable <span class=\"_ _9\"/>V<span class=\"_ _3\"/>opak to meet its payment obligations. Cash management The liquidity requirements are monitored continuously and funding is planned in suc<span class=\"_ _3\"/>h a way as to av<span class=\"_ _7\"/>oid ex<span class=\"_ _7\"/>cessive short-term financing needs. <span class=\"_ _8\"/>The long-term liquidity risk is assessed prior to ev<span class=\"_ _7\"/>er<span class=\"_ _5\"/>y major inv<span class=\"_ _7\"/>estment obligation. A<span class=\"_ _7\"/>ctive cash management is a daily responsibility and the liquidity requirements are identified eac<span class=\"_ _7\"/>h quarter based on thorough scenario planning. Surplus cash is invested, if a<span class=\"_ _7\"/>vailable, in interest-bearing current accounts and deposit accounts. V<span class=\"_ _3\"/>opak\u2019<span class=\"_ _9\"/>s Global <span class=\"_ _9\"/>T<span class=\"_ _8\"/>reasur<span class=\"_ _5\"/>y function acts as an in-house bank that allocates funds internally<span class=\"_ _3\"/>, whic<span class=\"_ _3\"/>h are raised centrally within the Group. Surplus cash held by the operating entities ov<span class=\"_ _7\"/>er and abov<span class=\"_ _7\"/>e balances required for w<span class=\"_ _7\"/>orking capital management is transferred to Global T<span class=\"_ _9\"/>reasur<span class=\"_ _5\"/>y and operating companies are normally funded b<span class=\"_ _7\"/>y a combination of equit<span class=\"_ _5\"/>y and inter<span class=\"_ _9\"/>-company loans. Ex<span class=\"_ _7\"/>ceptions to this are the bank loan of EUR 1<span class=\"_ _7\"/>39.6 million (SGD 200.0 million), drawdo<span class=\"_ _7\"/>wns under the rev<span class=\"_ _7\"/>olving credit facilities of <span class=\"_ _9\"/>V<span class=\"_ _3\"/>opak <span class=\"_ _9\"/>T<span class=\"_ _9\"/>erminals Singapore Pte. Ltd., whic<span class=\"_ _3\"/>h have been raised locally<span class=\"_ _9\"/>. Joint v<span class=\"_ _7\"/>entures and associates, where possible, are normally funded optimally with e<span class=\"_ _7\"/>xternal debt on a non-recourse basis for <span class=\"_ _9\"/>V<span class=\"_ _3\"/>opak, taking into account local circumst<span class=\"_ _5\"/>ances and contractual obligations. R<span class=\"_ _7\"/>ef<span class=\"_ _7\"/>erence is made to note 9.8 for more inf<span class=\"_ _7\"/>ormation with regard to commitments and guarantees provided to joint v<span class=\"_ _7\"/>entures and associates. A<span class=\"_ _3\"/>v<span class=\"_ _7\"/>ailable credit f<span class=\"_ _3\"/>acilities At year<span class=\"_ _9\"/>-end 2022, the compan<span class=\"_ _7\"/>y had t<span class=\"_ _5\"/>w<span class=\"_ _7\"/>o rev<span class=\"_ _7\"/>olving credit facilities (RCFs) whic<span class=\"_ _3\"/>h provide flexibility to finance <span class=\"_ _3\"/>V<span class=\"_ _9\"/>opak\u00b4s long-term growth strategy<span class=\"_ _3\"/>.  31 December 2022 <span class=\"_ _1bc\"> </span>31 December 2021 T<span class=\"_ _8\"/>otal T<span class=\"_ _8\"/>otal 1 1 In EUR millions f<span class=\"_ _7\"/>acility Used <span class=\"_ _fd\"> </span>Unused f<span class=\"_ _7\"/>acility Used <span class=\"_ _fd\"> </span>Unused Ro<span class=\"_ _7\"/>yal <span class=\"_ _3\"/>V<span class=\"_ _3\"/>opak - Rev<span class=\"_ _7\"/>olving credit facility <span class=\"_ _ae\"> </span>1,000.0 <span class=\"_ _17\"> </span>300.0 <span class=\"_ _ad\"> </span>700.0 <span class=\"_ _116\"> </span>1,0<span class=\"_ _5\"/>00.0 <span class=\"_ _11\"> </span>1<span class=\"_ _3\"/>00.0 <span class=\"_ _ad\"> </span>90<span class=\"_ _5\"/>0.0 VTS - Re<span class=\"_ _7\"/>volving credit facility <span class=\"_ _51\"> </span>69.8 <span class=\"_ _95\"> </span>\u2013 <span class=\"_ _bd\"> </span>69.8 <span class=\"_ _19a\"> </span>65.3 <span class=\"_ _fb\"> </span>9.1 <span class=\"_ _19a\"> </span>56.2 T<span class=\"_ _8\"/>otal committed f<span class=\"_ _3\"/>acilities 1,069.8 <span class=\"_ _8f\"> </span>30<span class=\"_ _5\"/>0.0 <span class=\"_ _1a2\"> </span>769.8 <span class=\"_ _147\"> </span>1,065.3 <span class=\"_ _1b\"> </span>1<span class=\"_ _7\"/>09.1 <span class=\"_ _1a2\"> </span>956.2 Ro<span class=\"_ _7\"/>yal <span class=\"_ _3\"/>V<span class=\"_ _3\"/>opak - Bank loan facilities <span class=\"_ _c9\"> </span>465.0 <span class=\"_ _1a\"> </span>27<span class=\"_ _3\"/>6.0 <span class=\"_ _22c\"> </span>189.0 <span class=\"_ _ad\"> </span>595.0 <span class=\"_ _b2\"> </span>462.0 <span class=\"_ _155\"> </span>1<span class=\"_ _3\"/>33.0 T<span class=\"_ _8\"/>otal uncommitted f<span class=\"_ _3\"/>acilities 465.0 <span class=\"_ _116\"> </span>276.0 <span class=\"_ _1a2\"> </span>189.0 <span class=\"_ _1a2\"> </span>595.0 <span class=\"_ _19\"> </span>462.0 <span class=\"_ _1a2\"> </span>133.0 T<span class=\"_ _8\"/>otal facilities <span class=\"_ _14a\"> </span><span class=\"fc0\">1,534.8 <span class=\"_ _116\"> </span>576.0 <span class=\"_ _1a2\"> </span>958.8 <span class=\"_ _147\"> </span></span>1,660.3 <span class=\"_ _1b\"> </span>571.1 <span class=\"_ _10\"> </span>1,089.2 1 <span class=\"_ _b3\"> </span>At nominal value. On 30 June 2022, <span class=\"_ _9\"/>V<span class=\"_ _3\"/>opak successfully renew<span class=\"_ _7\"/>ed its EUR 1 billion senior unsecured   rev<span class=\"_ _7\"/>olving credit facility (RCF) with a syndicate of 1<span class=\"_ _3\"/>2 international relationship banks.   This ne<span class=\"_ _7\"/>w facility replaces the previous R<span class=\"_ _7\"/>CF of EUR 1 billion, whic<span class=\"_ _7\"/>h has been in place   since June 20<span class=\"_ _9\"/>1<span class=\"_ _7\"/>6. <span class=\"_ _9\"/>T<span class=\"_ _7\"/>he new R<span class=\"_ _7\"/>CF is linked to our performance on three k<span class=\"_ _3\"/>ey topics from   V<span class=\"_ _3\"/>opak\u2019<span class=\"_ _9\"/>s Sustainabilit<span class=\"_ _5\"/>y Roadmap: our saf<span class=\"_ _3\"/>et<span class=\"_ _5\"/>y performance, gender div<span class=\"_ _7\"/>ersity in senior management and the reduction of our greenhouse gas emissions. <span class=\"_ _9\"/>T<span class=\"_ _7\"/>he new R<span class=\"_ _7\"/>CF has an initial maturity of five y<span class=\"_ _7\"/>ears with two one year e<span class=\"_ _7\"/>xtension options. <span class=\"_ _9\"/>T<span class=\"_ _7\"/>he new syndicate of banks consists of: ABN <span class=\"_ _3\"/>AMRO Bank, BB<span class=\"_ _3\"/>V<span class=\"_ _3\"/>A, BNP Paribas, CIBC, Citibank, DBS B<span class=\"_ _7\"/>ank, DNB, ICBC, ING, JP Morgan, Rabobank and SMBC B<span class=\"_ _7\"/>ank. ABN <span class=\"_ _7\"/>AMRO and ING acted as coordinating bookrunners and sustainability coordinators on the transaction. <span class=\"_ _9\"/>This f<span class=\"_ _7\"/>acility was utilized f<span class=\"_ _7\"/>or an amount of EUR 300 million at year<span class=\"_ _9\"/>-end 2022.  At 31 December 2022, the Group also had unused lines of credit of EUR 1<span class=\"_ _7\"/>89.0 million (2021: EUR 1<span class=\"_ _3\"/>33.0 million) that are available to meet short-term liquidity needs. <span class=\"_ _9\"/>T<span class=\"_ _7\"/>he Group can be requested to repay these short-term loans on demand. <span class=\"_ _8\"/>There are no significant restrictions on the use of these facilities. Matur<span class=\"_ _3\"/>ity analysis The graph belo<span class=\"_ _7\"/>w provides an o<span class=\"_ _7\"/>verview of the repayment profile of the Group\u2019<span class=\"_ _9\"/>s  interest-bearing loans (ex<span class=\"_ _7\"/>cluding lease liabilities) based on the contractual undiscounted  cash flows. F<span class=\"_ _3\"/>or the maturity ov<span class=\"_ _7\"/>er<span class=\"_ _5\"/>view of the lease liabilities, ref<span class=\"_ _3\"/>erence is made to note 3.4. The table below analy<span class=\"_ _7\"/>ses the Group\u2019<span class=\"_ _9\"/>s non-derivative financial liabilities and net-set<span class=\"_ _9\"/>tled derivativ<span class=\"_ _7\"/>e financial liabilities into relev<span class=\"_ _7\"/>ant maturity categories based on the remaining period at the end of the reporting period to the contractual mat<span class=\"_ _3\"/>urit<span class=\"_ _5\"/>y date. Derivativ<span class=\"_ _7\"/>e financial instruments are included in the analy<span class=\"_ _7\"/>sis if their contractual mat<span class=\"_ _3\"/>urities are essential for an understanding of the timing of the cash flows. <span class=\"_ _9\"/>T<span class=\"_ _7\"/>he table also analyses the maturity profile  of financial assets in order to provide a complete o<span class=\"_ _7\"/>verview of the contractual commitments and liquidity<span class=\"_ _3\"/>. <span class=\"_ _9\"/>The amounts disclosed in the table are the contractual undiscounted cash flows. <span class=\"_ _8\"/>The financial guarantees and securities issued (see note 9.8) are included f<span class=\"_ _7\"/>or their full amount and it is assumed for disclosure purposes that these can be called within one y<span class=\"_ _7\"/>ear<span class=\"_ _3\"/>. &lt; 1 year <span class=\"_ _15f\"> </span>1-2 y<span class=\"_ _7\"/>ears <span class=\"_ _c0\"> </span>2-5 years <span class=\"_ _c0\"> </span>&gt; 5 y<span class=\"_ _7\"/>ears In EUR millions - at 31 December <span class=\"_ _2bf\"> </span>2022 <span class=\"_ _53\"> </span><span class=\"fc7\">2021 <span class=\"_ _53\"> </span></span>2022 <span class=\"_ _53\"> </span><span class=\"fc7\">2021 <span class=\"_ _53\"> </span></span>2022 <span class=\"_ _53\"> </span><span class=\"fc7\">2021 <span class=\"_ _53\"> </span></span>2022 <span class=\"_ _53\"> </span>202Cash and cash equivalents <span class=\"_ _241\"> </span>33.8 <span class=\"_ _7c\"> </span>73.4 <span class=\"_ _184\"> </span>\u2013 <span class=\"_ _6d\"> </span>\u2013 <span class=\"_ _6d\"> </span>\u2013 <span class=\"_ _6d\"> </span>\u2013 <span class=\"_ _184\"> </span>\u2013 <span class=\"_ _6d\"> </span>\u2013 T<span class=\"_ _9\"/>rade and other receivables <span class=\"_ _2c0\"> </span>31<span class=\"_ _7\"/>8.5 <span class=\"_ _c7\"> </span>259.6 <span class=\"_ _6d\"> </span>\u2013 <span class=\"_ _184\"> </span>\u2013 <span class=\"_ _6d\"> </span>\u2013 <span class=\"_ _6d\"> </span>\u2013 <span class=\"_ _6d\"> </span>\u2013 <span class=\"_ _184\"> </span>\u2013 Other loans <span class=\"_ _264\"> </span>2.9 <span class=\"_ _41\"> </span>1<span class=\"_ _9\"/>.7 <span class=\"_ _3f\"> </span>2.0 <span class=\"_ _cb\"> </span>1<span class=\"_ _9\"/>.7 <span class=\"_ _7c\"> </span>40.2 <span class=\"_ _3f\"> </span>6.6 <span class=\"_ _184\"> </span>\u2013 <span class=\"_ _46\"> </span>36.6 Finance lease receivable <span class=\"_ _207\"> </span>1<span class=\"_ _7\"/>3.8 <span class=\"_ _49\"> </span>13.2 <span class=\"_ _46\"> </span>13.9 <span class=\"_ _46\"> </span>13.3 <span class=\"_ _51\"> </span>41<span class=\"_ _9\"/>.4 <span class=\"_ _7c\"> </span>40.4 <span class=\"_ _190\"> </span>132.3 <span class=\"_ _c7\"> </span>140.5 T<span class=\"_ _8\"/>otal undiscounted financial assets (excluding gr<span class=\"_ _7\"/>oss settled der<span class=\"_ _7\"/>iv<span class=\"_ _7\"/>atives) 369.0 <span class=\"_ _c7\"> </span>347<span class=\"_ _8\"/>.9 <span class=\"_ _1b2\"> </span>15.9 <span class=\"_ _7f\"> </span>15.0 <span class=\"_ _1bb\"> </span>81<span class=\"_ _7\"/>.6 <span class=\"_ _49\"> </span>47<span class=\"_ _1\"/>.0 <span class=\"_ _69\"> </span>132.3 <span class=\"_ _c7\"> </span>177<span class=\"_ _1\"/>.1 Bank o<span class=\"_ _7\"/>verdraf<span class=\"_ _3\"/>ts <span class=\"_ _29a\"> </span>1<span class=\"_ _9\"/>.1 <span class=\"_ _3f\"> </span>2.6 <span class=\"_ _6d\"> </span>\u2013 <span class=\"_ _184\"> </span>\u2013 <span class=\"_ _6d\"> </span>\u2013 <span class=\"_ _6d\"> </span>\u2013 <span class=\"_ _6d\"> </span>\u2013 <span class=\"_ _6d\"> </span>\u2013 Redemption of interest-bearing loans <span class=\"_ _17e\"> </span>420.2 <span class=\"_ _3f\"> </span>0.8 <span class=\"_ _190\"> </span>213.1 <span class=\"_ _c7\"> </span>505.5 <span class=\"_ _4f\"> </span>90<span class=\"_ _3\"/>1<span class=\"_ _9\"/>.8 <span class=\"_ _4f\"> </span>527<span class=\"_ _8\"/>.0 <span class=\"_ _53\"> </span>551<span class=\"_ _9\"/>.7 <span class=\"_ _c7\"> </span>792.2 Short-term borrowings <span class=\"_ _2c1\"> </span>27<span class=\"_ _3\"/>6.8 <span class=\"_ _c7\"> </span>462.0 <span class=\"_ _6d\"> </span>\u2013 <span class=\"_ _184\"> </span>\u2013 <span class=\"_ _6d\"> </span>\u2013 <span class=\"_ _6d\"> </span>\u2013 <span class=\"_ _6d\"> </span>\u2013 <span class=\"_ _6d\"> </span>\u2013 Lease liabilities <span class=\"_ _2c2\"> </span>56.8 <span class=\"_ _46\"> </span>55.3 <span class=\"_ _51\"> </span>51<span class=\"_ _9\"/>.6 <span class=\"_ _46\"> </span>52.9 <span class=\"_ _e6\"> </span>147<span class=\"_ _d\"/>.0 <span class=\"_ _190\"> </span>1<span class=\"_ _7\"/>40.5 <span class=\"_ _c7\"> </span>830.7 <span class=\"_ _190\"> </span>815.4 Interest payments <span class=\"_ _12b\"> </span>62.2 <span class=\"_ _7c\"> </span>63.6 <span class=\"_ _46\"> </span>52.1 <span class=\"_ _83\"> </span>57<span class=\"_ _1\"/>.9 <span class=\"_ _46\"> </span>89.3 <span class=\"_ _4f\"> </span>1<span class=\"_ _9\"/>13.9 <span class=\"_ _c7\"> </span>144.8 <span class=\"_ _c7\"> </span>124.8 Interest rate swaps <span class=\"_ _2c3\"> </span>3.6 <span class=\"_ _3f\"> </span>4.1 <span class=\"_ _3f\"> </span>2.0 <span class=\"_ _3f\"> </span>3.3 <span class=\"_ _3f\"> </span>4.0 <span class=\"_ _3f\"> </span>4.4 <span class=\"_ _3f\"> </span>0.5 <span class=\"_ _cb\"> </span>1<span class=\"_ _9\"/>.2 T<span class=\"_ _9\"/>rade and other creditors (excluding non-financial instr<span class=\"_ _3\"/>uments) <span class=\"_ _18f\"> </span>1<span class=\"_ _7\"/>94.4 <span class=\"_ _190\"> </span>184.1 <span class=\"_ _72\"> </span>\u2013 <span class=\"_ _184\"> </span>\u2013 <span class=\"_ _6d\"> </span>\u2013 <span class=\"_ _6d\"> </span>\u2013 <span class=\"_ _6d\"> </span>\u2013 <span class=\"_ _184\"> </span>\u2013 T<span class=\"_ _8\"/>otal undiscounted financial liabilities (excluding gr<span class=\"_ _7\"/>oss settled der<span class=\"_ _7\"/>iv<span class=\"_ _7\"/>atives) 1,0<span class=\"_ _3\"/>15.1 <span class=\"_ _69\"> </span>772.5 <span class=\"_ _8d\"> </span>318.8 <span class=\"_ _69\"> </span>61<span class=\"_ _7\"/>9.6 <span class=\"_ _18e\"> </span>1,142.1 <span class=\"_ _69\"> </span>785.8 <span class=\"_ _115\"> </span>1,527<span class=\"_ _8\"/>.7 <span class=\"_ _e3\"> </span>1,733.6 Derivativ<span class=\"_ _7\"/>e financial instruments outflow <span class=\"_ _2c4\"> </span>- 246.1 <span class=\"_ _6d\"> </span>\u2013 <span class=\"_ _f9\"> </span>- 1<span class=\"_ _3\"/>51<span class=\"_ _9\"/>.3 <span class=\"_ _4d\"> </span>- 246.1 <span class=\"_ _131\"> </span>- 61<span class=\"_ _9\"/>.2 <span class=\"_ _4d\"> </span>- 212.6 <span class=\"_ _c7\"> </span>- 66.6 <span class=\"_ _c7\"> </span>- 66.6 Derivativ<span class=\"_ _7\"/>e financial instruments inflow <span class=\"_ _218\"> </span>295.3 <span class=\"_ _6d\"> </span>\u2013 <span class=\"_ _4f\"> </span>1<span class=\"_ _7\"/>41<span class=\"_ _9\"/>.0 <span class=\"_ _c7\"> </span>278.0 <span class=\"_ _7c\"> </span>70.3 <span class=\"_ _190\"> </span>219.7 <span class=\"_ _7c\"> </span>73.2 <span class=\"_ _46\"> </span>68.9 T<span class=\"_ _8\"/>otal undiscounted gross set<span class=\"_ _7\"/>tled deriv<span class=\"_ _3\"/>atives 49.2 <span class=\"_ _72\"> </span>\u2013 <span class=\"_ _8d\"> </span>- 1<span class=\"_ _7\"/>0.3 <span class=\"_ _19c\"> </span>31.9 <span class=\"_ _2f\"> </span>9.1 <span class=\"_ _185\"> </span>7<span class=\"_ _8\"/>.1 <span class=\"_ _88\"> </span>6.6 <span class=\"_ _88\"> </span>2.3 Financial guarantees and securities issued <span class=\"_ _2c5\"> </span>1<span class=\"_ _9\"/>1<span class=\"_ _7\"/>2.1<span class=\"_ _19c\"> </span>1<span class=\"_ _9\"/>16.7 <span class=\"_ _72\"> </span>\u2013 <span class=\"_ _184\"> </span>\u2013 <span class=\"_ _6d\"> </span>\u2013 <span class=\"_ _6d\"> </span>\u2013 <span class=\"_ _6d\"> </span>\u2013 <span class=\"_ _184\"> </span>\u2013 T<span class=\"_ _8\"/>otal financial guarantees and secur<span class=\"_ _7\"/>ities 1<span class=\"_ _9\"/>12.1<span class=\"_ _e6\"> </span>1<span class=\"_ _9\"/>16.7 <span class=\"_ _72\"> </span>\u2013 <span class=\"_ _72\"> </span>\u2013 <span class=\"_ _72\"> </span>\u2013 <span class=\"_ _6d\"> </span>\u2013 <span class=\"_ _72\"> </span>\u2013 <span class=\"_ _72\"> </span>\u2013 Liquidity mov<span class=\"_ _7\"/>ements <span class=\"_ _1ee\"> </span><span class=\"fc0\">- 709.0<span class=\"_ _e1\"> </span></span>- 541<span class=\"_ _7\"/>.3 <span class=\"_ _d0\"> </span><span class=\"fc0\">- 313.2 <span class=\"_ _d0\"> </span></span>- 572.7 <span class=\"_ _b0\"> </span>- 1,051<span class=\"_ _3\"/>.4 <span class=\"_ _118\"> </span><span class=\"fcb\">- 731<span class=\"_ _7\"/>.7 <span class=\"_ _c3\"> </span><span class=\"fc0\">- 1,388.8 <span class=\"_ _fb\"> </span></span>- 1,554.2 </span>Section 7 Go<span class=\"_ _7\"/>vernance <span class=\"fs11 fc3 ws28\">  </span>This section comprises notes related to the Go<span class=\"_ _7\"/>vernance of the compan<span class=\"_ _7\"/>y<span class=\"_ _3\"/>, including Board Remuneration including L<span class=\"_ _9\"/>TIPs, transactions with related parties and External <span class=\"_ _7\"/>Auditor f<span class=\"_ _3\"/>ees. The f<span class=\"_ _7\"/>ollowing notes are presented in this section: <span class=\"fs11 fc3 ws28\">  </span>\u2022 <span class=\"_ _19f\"> </span><span class=\"fc1\">7<span class=\"_ _d\"/>.1 Remuneration of B<span class=\"_ _7\"/>oard members <span class=\"fs11 fc3 ws28\">  </span></span>\u2022 <span class=\"_ _19f\"> </span><span class=\"fc1\">7<span class=\"_ _d\"/>.2 Long-term incentiv<span class=\"_ _7\"/>e plans (L<span class=\"_ _9\"/>TIPs) <span class=\"fs11 fc3 ws28\">  </span></span>\u2022 <span class=\"_ _19f\"> </span><span class=\"fc1\">7<span class=\"_ _d\"/>.3 Related parties <span class=\"fs11 fc3 ws28\">  </span></span>\u2022 <span class=\"_ _19f\"> </span><span class=\"fc1\">7<span class=\"_ _d\"/>.4 F<span class=\"_ _7\"/>ees paid to auditors appointed at the Annual General Meeting <span class=\"fs11 fc3 ws28\">  </span></span>Note 7<span class=\"_ _2\"/>.1 Remuneration of Boar<span class=\"_ _7\"/>d members <span class=\"fs11 fc3 ws28\">  </span>Ref<span class=\"_ _3\"/>erence is made to the section of the Remuneration report for inf<span class=\"_ _3\"/>ormation regarding the remuneration and related costs of the Super<span class=\"_ _5\"/>visor<span class=\"_ _5\"/>y Board members and the Ex<span class=\"_ _7\"/>ecutive Board members.   Note 7<span class=\"_ _2\"/>.2 Long-ter<span class=\"_ _3\"/>m incentive plans (L<span class=\"_ _8\"/>TIPs)  <span class=\"fs11 fc3 ws28\">  </span>At year<span class=\"_ _9\"/>-end 2022, as in prior y<span class=\"_ _7\"/>ear<span class=\"_ _3\"/>, the Group operated three Long-T<span class=\"_ _8\"/>erm Share Plans (L<span class=\"_ _3\"/>TSPs) and Long-T<span class=\"_ _8\"/>erm Cash Plans (L<span class=\"_ _9\"/>TCPs).   <span class=\"fsc fc1 ws3\"> </span>  <span class=\"fsc fc1 ws3\"> </span>F<span class=\"_ _7\"/>or the Executiv<span class=\"_ _7\"/>e Board, all share-based pa<span class=\"_ _7\"/>yment plans are 1<span class=\"_ _3\"/>0<span class=\"_ _5\"/>0% equity-set<span class=\"_ _3\"/>tled.   F<span class=\"_ _7\"/>or eligible senior management, the L<span class=\"_ _9\"/>TSPs also consisted of equit<span class=\"_ _5\"/>y-set<span class=\"_ _9\"/>tled share-based compensation plans.    The L<span class=\"_ _9\"/>TCPs are other long-term remuneration plans set<span class=\"_ _3\"/>tled in cash. L<span class=\"_ _9\"/>TCPs are granted to st<span class=\"_ _5\"/>af<span class=\"_ _7\"/>f in countries where local legal, regulator<span class=\"_ _5\"/>y and/ or tax regulations and requirements make it administratively v<span class=\"_ _7\"/>er<span class=\"_ _5\"/>y complex and burdensome to pro<span class=\"_ _7\"/>vide shares of a foreign based company to local staf<span class=\"_ _7\"/>f<span class=\"_ _3\"/>, or in countries where this is simply not allowed. <span class=\"_ _8\"/>The periods to whic<span class=\"_ _3\"/>h the plans relate are presented below:   \u2022 <span class=\"_ _19f\"> </span><span class=\"fc1\">L<span class=\"_ _9\"/>TSP and L<span class=\"_ _9\"/>TCP 2020-2022 <span class=\"fs11 fc3 ws28\">  </span></span>\u2022 <span class=\"_ _19f\"> </span><span class=\"fc1\">L<span class=\"_ _9\"/>TSP and L<span class=\"_ _9\"/>TCP 2021<span class=\"_ _3\"/>-2023 <span class=\"fs11 fc3 ws28\">  </span></span>\u2022 <span class=\"_ _19f\"> </span><span class=\"fc1\">L<span class=\"_ _9\"/>TSP and L<span class=\"_ _9\"/>TCP 2022-2024 <span class=\"fs11 fc3 ws28\">  </span></span>The L<span class=\"_ _9\"/>TSP and L<span class=\"_ _9\"/>TCP 20<span class=\"_ _9\"/>19-2021 w<span class=\"_ _7\"/>ere vested and set<span class=\"_ _3\"/>tled during 2022. <span class=\"fs11 fc3 ws28\">  </span>A<span class=\"_ _1e\"> </span><span class=\"ff3 fs9\">Accounting policies <span class=\"fs11 fc3 ws28\">  </span></span>Shar<span class=\"_ _7\"/>e-based compensation <span class=\"fs11 fc3 ws28\">  </span>The f<span class=\"_ _7\"/>air value of equity-set<span class=\"_ _3\"/>tled share-based compensation plans is determined at the date of granting and expensed in the statement of income based on the Group\u2019<span class=\"_ _9\"/>s estimate of the shares that will ev<span class=\"_ _7\"/>entually v<span class=\"_ _7\"/>est ov<span class=\"_ _7\"/>er the period in whic<span class=\"_ _7\"/>h the ser<span class=\"_ _5\"/>vice is rendered (vesting period) with a corresponding adjustment directly in equity<span class=\"_ _3\"/>. <span class=\"_ _9\"/>The f<span class=\"_ _3\"/>air value of cash-set<span class=\"_ _7\"/>tled share-based compensation plans is determined at the date of granting and is remeasured at eac<span class=\"_ _3\"/>h reporting date until the liabilit<span class=\"_ _5\"/>y is set<span class=\"_ _3\"/>tled and is recognized ov<span class=\"_ _7\"/>er the vesting period as an expense to the e<span class=\"_ _7\"/>xtent to whic<span class=\"_ _3\"/>h participants have rendered services to date.    Generally<span class=\"_ _3\"/>, the compensation cost is recognized on a straight-line basis o<span class=\"_ _7\"/>ver the v<span class=\"_ _7\"/>esting period. <span class=\"_ _9\"/>T<span class=\"_ _7\"/>he amounts expensed are adjusted o<span class=\"_ _7\"/>ver the v<span class=\"_ _7\"/>esting period for c<span class=\"_ _3\"/>hanges in the estimate of the number of shares and the equivalent in cash that will e<span class=\"_ _7\"/>vent<span class=\"_ _7\"/>ually vest. Adjustments are made at the end of eac<span class=\"_ _3\"/>h reporting period to reflect expected and act<span class=\"_ _7\"/>ual forf<span class=\"_ _3\"/>eitures during the v<span class=\"_ _7\"/>esting period due to the failure to satisfy ser<span class=\"_ _5\"/>vice conditions or non-market perf<span class=\"_ _7\"/>ormance conditions, being profitabilit<span class=\"_ _5\"/>y growth targets (EPS), Strategy Execution (pre<span class=\"_ _7\"/>viously named <span class=\"_ _3\"/>\u201cStrategic Direction<span class=\"_ _3\"/>\u201d) and Sust<span class=\"_ _5\"/>ainability Execution (for L<span class=\"_ _9\"/>TSP and L<span class=\"_ _9\"/>TCP 2022-2024) as well as ser<span class=\"_ _5\"/>vice conditions suc<span class=\"_ _3\"/>h as remaining an employee of the Group ov<span class=\"_ _7\"/>er a specified time period.   An equity-set<span class=\"_ _3\"/>tled share-based payment aw<span class=\"_ _7\"/>ard with a net set<span class=\"_ _7\"/>tlement f<span class=\"_ _7\"/>eature f<span class=\"_ _7\"/>or withholding tax obligations is treated as equit<span class=\"_ _5\"/>y-set<span class=\"_ _3\"/>tled in its entirety<span class=\"_ _3\"/>.   Other long-ter<span class=\"_ _3\"/>m remuner<span class=\"_ _7\"/>ation  Long-term remuneration set<span class=\"_ _3\"/>tled in cash that depends on the dev<span class=\"_ _7\"/>elopment of the earnings per ordinar<span class=\"_ _5\"/>y share (EPS) -ex<span class=\"_ _7\"/>cluding ex<span class=\"_ _7\"/>ceptional items- during a period of three years is allocated to these years based on the latest estimates of the EPS -e<span class=\"_ _7\"/>xcluding e<span class=\"_ _7\"/>xceptional items- and are not treated as share-based payment plans. Liabilities are remeasured at the end of eac<span class=\"_ _3\"/>h reporting period.   Costs of long-ter<span class=\"_ _3\"/>m incentive plans <span class=\"fs11 fc3 ws28\">  </span>L<span class=\"_ _9\"/>TSP 2022 L<span class=\"_ _9\"/>TSP 2021 L<span class=\"_ _9\"/>TSP 2020 L<span class=\"_ _9\"/>TSP 20<span class=\"_ _7\"/>19 In EUR thousands <span class=\"fs11 fc3 ws28\">  </span>equity-set<span class=\"_ _3\"/>tled <span class=\"_ _2\"/><span class=\"fs11 fc3 ws163\">  </span>equity-set<span class=\"_ _3\"/>tled <span class=\"_ _2\"/><span class=\"fs11 fc3 ws163\">  </span>equity-set<span class=\"_ _3\"/>tled <span class=\"_ _2\"/><span class=\"fs11 fc3 ws163\">  </span>equity-set<span class=\"_ _3\"/>tled  <span class=\"_ _22b\"> </span>Cash <span class=\"_ _23\"> </span>Plan  <span class=\"_ _a8\"> </span>T<span class=\"_ _8\"/>otal <span class=\"_ _23\"> </span>2022  <span class=\"_ _a8\"> </span><span class=\"fc7\">T<span class=\"_ _8\"/>otal <span class=\"_ _23\"> </span>2021  </span>D<span class=\"_ _7\"/>.J.M. Ric<span class=\"_ _3\"/>helle  <span class=\"_ _294\"> </span><span class=\"ws8e\">1<span class=\"_ _3\"/>06.4  <span class=\"_ _1bc\"> </span>27<span class=\"_ _1\"/>.8  <span class=\"_ _3f\"> </span>50.1  <span class=\"_ _86\"> </span>\u2013  <span class=\"_ _5f\"> </span>n/a  <span class=\"_ _49\"> </span>1<span class=\"_ _7\"/>84.3  <span class=\"_ _86\"> </span>\u2013  </span>F<span class=\"_ _1\"/>. Eulderink  <span class=\"_ _1d5\"> </span><span class=\"ws8e\">7<span class=\"_ _9\"/>4.2  <span class=\"_ _41\"> </span>71<span class=\"_ _9\"/>.9  <span class=\"_ _51\"> </span>231<span class=\"_ _9\"/>.4  <span class=\"_ _cb\"> </span>61<span class=\"_ _9\"/>.8  <span class=\"_ _5f\"> </span>n/a  <span class=\"_ _7c\"> </span>439.3  <span class=\"_ _46\"> </span>570.2  </span>M.E.G. Gilsing  <span class=\"_ _14f\"> </span><span class=\"ws8e\">65.3  <span class=\"_ _3f\"> </span>26.7  <span class=\"_ _3f\"> </span>44.9  <span class=\"_ _86\"> </span>\u2013  <span class=\"_ _5f\"> </span>n/a  <span class=\"_ _49\"> </span>1<span class=\"_ _7\"/>36.9  <span class=\"_ _86\"> </span>\u2013  </span>Members Executiv<span class=\"_ _7\"/>e Board  245.9  <span class=\"_ _1b2\"> </span>126.4  <span class=\"_ _1b2\"> </span>326.4  <span class=\"_ _108\"> </span>61<span class=\"_ _3\"/>.8  <span class=\"_ _1bc\"> </span><span class=\"ws3\">n/a <span class=\"_ _53\"> </span></span>760.5  <span class=\"_ _1b2\"> </span>570.2  E.M. Hoekstra  <span class=\"_ _2c6\"> </span><span class=\"ws8e\">n/a  <span class=\"_ _190\"> </span>- <span class=\"_ _c\"> </span>1<span class=\"_ _7\"/>63.3  <span class=\"_ _3f\"> </span>98.0  <span class=\"_ _86\"> </span>\u2013  <span class=\"_ _5f\"> </span>n/a  <span class=\"_ _46\"> </span>- <span class=\"_ _23\"> </span>65.3  <span class=\"_ _31\"> </span>1,734.4  </span>G.B. P<span class=\"_ _3\"/>aulides  <span class=\"_ _2c7\"> </span><span class=\"ws8e\">70.8  <span class=\"_ _3f\"> </span>- <span class=\"_ _c\"> </span>3.6  <span class=\"_ _49\"> </span>1<span class=\"_ _7\"/>25.3  <span class=\"_ _3f\"> </span>53.0  <span class=\"_ _5f\"> </span>n/a  <span class=\"_ _46\"> </span>245.5  <span class=\"_ _b1\"> </span>831<span class=\"_ _8\"/>.8  </span>For<span class=\"_ _3\"/>mer members Executive Board  70.8  <span class=\"_ _31\"> </span>- <span class=\"_ _23\"> </span>166.9  <span class=\"_ _7f\"> </span>223.3  <span class=\"_ _2f\"> </span>53.0  <span class=\"_ _1bc\"> </span>n/a  <span class=\"_ _7f\"> </span>180.2  <span class=\"_ _228\"> </span>2,566.2  Other senior ex<span class=\"_ _7\"/>ecutives<span class=\"_ _2c8\"> </span><span class=\"ws8e\">232.3  <span class=\"_ _46\"> </span>355.4  <span class=\"_ _31\"> </span>1,352.4  <span class=\"_ _46\"> </span>382.0  <span class=\"_ _45\"> </span>71<span class=\"_ _3\"/>7<span class=\"_ _8\"/>.2  <span class=\"_ _31\"> </span>3,039.3  <span class=\"_ _31\"> </span>5,393.1  </span>T<span class=\"_ _8\"/>otal  <span class=\"_ _27e\"> </span><span class=\"wsb\">549.0  <span class=\"_ _1b2\"> </span>314.9  <span class=\"_ _e1\"> </span>1,902.1  <span class=\"_ _1b2\"> </span>496.8  <span class=\"_ _49\"> </span>717<span class=\"_ _1\"/>.2  <span class=\"_ _228\"> </span><span class=\"fc0\">3,980.0  <span class=\"_ _228\"> </span></span>8,529.5  </span>F<span class=\"_ _7\"/>or more information on the remuneration policy and the remuneration of the Ex<span class=\"_ _7\"/>ecutive Board members and the Supervisor<span class=\"_ _5\"/>y Board members, ref<span class=\"_ _7\"/>erence is made to the Remuneration report as included in the Go<span class=\"_ _7\"/>vernance and compliance c<span class=\"_ _3\"/>hapter<span class=\"_ _3\"/>.  Long-T<span class=\"_ _1\"/>er<span class=\"_ _7\"/>m Share Plans  The cur<span class=\"_ _7\"/>rent Long-T<span class=\"_ _8\"/>erm Share Plan programs reward participants f<span class=\"_ _7\"/>or (considerable and ambitious) improv<span class=\"_ _7\"/>ements in <span class=\"_ _3\"/>V<span class=\"_ _3\"/>opak\u2019<span class=\"_ _9\"/>s Earnings per Share -ex<span class=\"_ _7\"/>cluding exceptional items- (EPS) performance and Strategy Ex<span class=\"_ _7\"/>ecution ac<span class=\"_ _3\"/>hievements during the three-y<span class=\"_ _7\"/>ear performance period, respectively from start date of the plan to the end date of the plan (either 2020-2022, 2021<span class=\"_ _3\"/>-2023 or 2022-2024), ev<span class=\"_ _7\"/>aluated against the EPS -ex<span class=\"_ _7\"/>cluding ex<span class=\"_ _7\"/>ceptional items- and Strategy ex<span class=\"_ _7\"/>ecution targets.   If the realized EPS -e<span class=\"_ _7\"/>xcluding e<span class=\"_ _7\"/>xceptional items- and Strategy Ex<span class=\"_ _7\"/>ecution whic<span class=\"_ _7\"/>h hav<span class=\"_ _7\"/>e been ac<span class=\"_ _3\"/>hieved during the three-y<span class=\"_ _7\"/>ear performance period f<span class=\"_ _7\"/>alls within or ex<span class=\"_ _7\"/>ceeds the t<span class=\"_ _5\"/>arget range, a long-term remuneration will be aw<span class=\"_ _7\"/>arded based on a percentage of their t<span class=\"_ _5\"/>arget grants (i.e. number of shares) made at date of grant, and this for all plans that are activ<span class=\"_ _7\"/>e.  The incentiv<span class=\"_ _7\"/>e ranges that apply to the various plans f<span class=\"_ _7\"/>or the dif<span class=\"_ _7\"/>f<span class=\"_ _7\"/>erent groups of participants are presented in the follo<span class=\"_ _7\"/>wing table.  Incentive oppor<span class=\"_ _7\"/>tunities  <span class=\"_ _132\"> </span>L<span class=\"_ _3\"/>TSP <span class=\"_ _23\"> </span>2022  <span class=\"_ _142\"> </span>L<span class=\"_ _3\"/>TSP <span class=\"_ _23\"> </span>2021  <span class=\"_ _15b\"> </span>L<span class=\"_ _9\"/>TSP <span class=\"_ _23\"> </span>2020Members Executiv<span class=\"_ _7\"/>e Board   <span class=\"_ _182\"> </span> <span class=\"_ _52\"> </span> D<span class=\"_ _7\"/>.J.M. Ric<span class=\"_ _3\"/>helle  <span class=\"_ _1d8\"> </span>0% to 165% <span class=\"_ _15e\"/>  <span class=\"_ _182\"> </span> F<span class=\"_ _1\"/>. Eulderink  <span class=\"_ _2c9\"> </span>0% to 1<span class=\"_ _7\"/>35% <span class=\"_ _2\"/> <span class=\"_ _27a\"> </span>0% to 1<span class=\"_ _7\"/>35% <span class=\"_ _2\"/> <span class=\"_ _27a\"> </span>0% to 1<span class=\"_ _7\"/>35% <span class=\"_ _2\"/> M.E.G. Gilsing  <span class=\"_ _eb\"> </span>0% to 1<span class=\"_ _7\"/>35% <span class=\"_ _2\"/>  <span class=\"_ _182\"> </span> For<span class=\"_ _3\"/>mer members Executive Board  <span class=\"_ _7a\"> </span><span class=\"fs11 fc3\"> <span class=\"_ _182\"> </span> <span class=\"_ _52\"> </span> </span>E.M. Hoekstra  <span class=\"_ _2ca\"> </span><span class=\"fs11 fc3\"> <span class=\"_ _b\"> </span></span>0% to 165% <span class=\"_ _15e\"/> <span class=\"_ _27a\"> </span>0% to 1<span class=\"_ _7\"/>65% <span class=\"_ _2\"/> G.B. P<span class=\"_ _3\"/>aulides  <span class=\"_ _217\"> </span>0% to 1<span class=\"_ _7\"/>35% <span class=\"_ _2\"/> <span class=\"_ _27a\"> </span>0% to 1<span class=\"_ _7\"/>35% <span class=\"_ _2\"/> <span class=\"_ _27a\"> </span>0% to 1<span class=\"_ _7\"/>35% <span class=\"_ _2\"/> Senior management   <span class=\"_ _182\"> </span> <span class=\"_ _52\"> </span> Eligible other senior ex<span class=\"_ _7\"/>ecutives<span class=\"_ _67\"> </span>0% to 60% <span class=\"_ _2\"/> <span class=\"_ _8e\"> </span>0% to 60% <span class=\"_ _d\"/> <span class=\"_ _90\"> </span>0% to 60% <span class=\"_ _d\"/>  <span class=\"_ _182\"> </span> <span class=\"_ _52\"> </span> <span class=\"_ _182\"> </span> Long-T<span class=\"_ _1\"/>er<span class=\"_ _7\"/>m Cash Plans  T<span class=\"_ _9\"/>o senior managers who are eligible f<span class=\"_ _7\"/>or receiving long-term variable remuneration, yet not in shares, grants in (def<span class=\"_ _3\"/>erred) cash will be made. <span class=\"_ _9\"/>T<span class=\"_ _7\"/>he company\u2019<span class=\"_ _9\"/>s Long-T<span class=\"_ _8\"/>erm Cash Plan programs operate in a similar wa<span class=\"_ _7\"/>y as the company\u2019<span class=\"_ _9\"/>s Long-T<span class=\"_ _8\"/>erm Share Plan programs, with the ex<span class=\"_ _7\"/>ception that vesting takes place in cash rather than in shares.  The L<span class=\"_ _9\"/>TCPs pro<span class=\"_ _7\"/>vide for additional pay in the f<span class=\"_ _3\"/>orm of deferred compensation under the terms and conditions of the plan af<span class=\"_ _3\"/>ter the vesting period. <span class=\"_ _9\"/>T<span class=\"_ _7\"/>he financial performance is measured b<span class=\"_ _7\"/>y the EPS -ex<span class=\"_ _7\"/>cluding ex<span class=\"_ _7\"/>ceptional items- dev<span class=\"_ _7\"/>elopment during the three-year perf<span class=\"_ _7\"/>ormance period, the incentive can rise from 0% to a maximum of 22.5% or 30.0% per annum of the salar<span class=\"_ _5\"/>y at the grant date.  Mov<span class=\"_ _3\"/>ements in the number of conditional awar<span class=\"_ _3\"/>ds  In numbers  <span class=\"_ _255\"> </span><span class=\"fs7 fc7 wsb\">D<span class=\"_ _7\"/>.J.M.<span class=\"_ _7\"/> <span class=\"_ _23\"> </span>Richelle  <span class=\"_ _1a2\"> </span>F<span class=\"_ _8\"/>. <span class=\"_ _c\"> </span>Eulderink  <span class=\"_ _10b\"> </span>M.E.G. <span class=\"_ _c\"> </span>Gilsing  <span class=\"_ _27a\"> </span>E.M. <span class=\"_ _23\"> </span>Hoekstra  <span class=\"_ _147\"> </span>G.B. <span class=\"_ _c\"> </span>Paulides  <span class=\"_ _53\"> </span>Other  <span class=\"_ _49\"> </span><span class=\"fc0\">T<span class=\"_ _9\"/>otal  </span></span>Outstanding at 31 December 2020  <span class=\"_ _230\"> </span><span class=\"wsb\">\u2013  <span class=\"_ _55\"> </span>32,436  <span class=\"_ _86\"> </span>\u2013  <span class=\"_ _8d\"> </span>51,577  <span class=\"_ _55\"> </span>30,331  <span class=\"_ _19b\"> </span>20<span class=\"_ _5\"/>0,794  <span class=\"_ _d0\"> </span><span class=\"fc0\">315,138  </span></span>V<span class=\"_ _3\"/>ested  <span class=\"_ _2cb\"> </span><span class=\"ws8e\">\u2013  <span class=\"_ _e1\"> </span>- <span class=\"_ _23\"> </span>1<span class=\"_ _9\"/>1,235  <span class=\"_ _86\"> </span>\u2013  <span class=\"_ _55\"> </span>- <span class=\"_ _c\"> </span>1<span class=\"_ _3\"/>7<span class=\"_ _1\"/>,554  <span class=\"_ _87\"> </span>- <span class=\"_ _c\"> </span>1<span class=\"_ _7\"/>0,183  <span class=\"_ _15a\"> </span>- <span class=\"_ _23\"> </span>59,941  <span class=\"_ _228\"> </span>- <span class=\"_ _c\"> </span>98,913  </span>F<span class=\"_ _7\"/>orfeited  <span class=\"_ _273\"> </span><span class=\"ws8e\">\u2013  <span class=\"_ _6f\"> </span>\u2013  <span class=\"_ _187\"> </span>\u2013  <span class=\"_ _86\"> </span>\u2013  <span class=\"_ _86\"> </span>\u2013  <span class=\"_ _c7\"> </span>- <span class=\"_ _c\"> </span>5,393  <span class=\"_ _c7\"> </span>- <span class=\"_ _c\"> </span>5,393  </span>Newly a<span class=\"_ _7\"/>warded  <span class=\"_ _1eb\"> </span><span class=\"ws8e\">\u2013  <span class=\"_ _53\"> </span>1<span class=\"_ _3\"/>1,330  <span class=\"_ _86\"> </span>\u2013  <span class=\"_ _4f\"> </span>1<span class=\"_ _7\"/>8,1<span class=\"_ _7\"/>7<span class=\"_ _3\"/>6  <span class=\"_ _53\"> </span>1<span class=\"_ _9\"/>1,330  <span class=\"_ _53\"> </span>92,71<span class=\"_ _3\"/>7  <span class=\"_ _228\"> </span>1<span class=\"_ _7\"/>33,553  </span>Outstanding at 31 December 2021  <span class=\"_ _230\"> </span><span class=\"wsb\">\u2013  <span class=\"_ _55\"> </span>32,531  <span class=\"_ _86\"> </span>\u2013  <span class=\"_ _8d\"> </span>52,199  <span class=\"_ _55\"> </span>31,478  <span class=\"_ _118\"> </span>228,177  <span class=\"_ _19b\"> </span><span class=\"fc0\">344,385  </span></span>V<span class=\"_ _3\"/>ested and set<span class=\"_ _7\"/>tled  <span class=\"_ _2cc\"> </span><span class=\"ws8e\">\u2013  <span class=\"_ _228\"> </span>- <span class=\"_ _23\"> </span>1<span class=\"_ _3\"/>0,826  <span class=\"_ _86\"> </span>\u2013  <span class=\"_ _55\"> </span>- <span class=\"_ _c\"> </span>1<span class=\"_ _3\"/>7<span class=\"_ _1\"/>,380  <span class=\"_ _e1\"> </span>- <span class=\"_ _23\"> </span>1<span class=\"_ _3\"/>0,051  <span class=\"_ _4d\"> </span>- <span class=\"_ _c\"> </span>54,849  <span class=\"_ _e1\"> </span>- <span class=\"_ _c\"> </span>93,1<span class=\"_ _7\"/>06  </span>F<span class=\"_ _7\"/>orfeited  <span class=\"_ _273\"> </span><span class=\"ws8e\">\u2013  <span class=\"_ _6f\"> </span>\u2013  <span class=\"_ _187\"> </span>\u2013  <span class=\"_ _86\"> </span>\u2013  <span class=\"_ _86\"> </span>\u2013  <span class=\"_ _31\"> </span>- <span class=\"_ _c\"> </span>27<span class=\"_ _1\"/>,21<span class=\"_ _7\"/>2  <span class=\"_ _31\"> </span>- <span class=\"_ _c\"> </span>27<span class=\"_ _8\"/>,21<span class=\"_ _7\"/>2  </span>1  T<span class=\"_ _9\"/>ransfer<span class=\"_ _7\"/>red from other senior executiv<span class=\"_ _7\"/>es2,983  <span class=\"_ _86\"> </span>\u2013  <span class=\"_ _46\"> </span>2,804  <span class=\"_ _86\"> </span>\u2013  <span class=\"_ _86\"> </span>\u2013  <span class=\"_ _c7\"> </span>- <span class=\"_ _c\"> </span>5,787  <span class=\"_ _86\"> </span>\u2013  Newly a<span class=\"_ _7\"/>warded  <span class=\"_ _24d\"> </span><span class=\"ws8e\">23,280  <span class=\"_ _190\"> </span>16,244  <span class=\"_ _c7\"> </span>14,285  <span class=\"_ _6f\"> </span>\u2013  <span class=\"_ _49\"> </span>5,155  <span class=\"_ _69\"> </span>1<span class=\"_ _3\"/>1<span class=\"_ _3\"/>7<span class=\"_ _1\"/>,7<span class=\"_ _7\"/>68  <span class=\"_ _87\"> </span>1<span class=\"_ _7\"/>7<span class=\"_ _3\"/>6,732  </span>Outstanding at 31 December 2022  <span class=\"_ _2b6\"> </span><span class=\"wsb\">26,263  <span class=\"_ _44\"> </span>37<span class=\"_ _8\"/>,949  <span class=\"_ _190\"> </span>1<span class=\"_ _7\"/>7<span class=\"_ _8\"/>,089  <span class=\"_ _8d\"> </span>34,819  <span class=\"_ _8d\"> </span>26,582  <span class=\"_ _d0\"> </span>258,097  <span class=\"_ _19b\"> </span><span class=\"fc0\">40<span class=\"_ _5\"/>0,799  </span></span>1 <span class=\"_ _b3\"> </span>Pre<span class=\"_ _7\"/>viously reported under Other<span class=\"_ _3\"/>.2 <span class=\"_ _b3\"> </span> F<span class=\"_ _7\"/>or L<span class=\"_ _3\"/>TSP 2020, 2021 and 2022, the conditional awards are based on the salary on the date of grant.    V<span class=\"_ _9\"/>aluation and cost allocation  Long-ter<span class=\"_ _3\"/>m incentive plans (L<span class=\"_ _8\"/>TIPs) v<span class=\"_ _7\"/>aluation (for<span class=\"_ _3\"/>mer) Executiv<span class=\"_ _7\"/>e Board members and other senior ex<span class=\"_ _3\"/>ecutives  1  2  3   <span class=\"_ _22b\"> </span><span class=\"fs7 fcd\">Conditional awar<span class=\"_ _7\"/>ds </span>Number of expected shar<span class=\"_ _7\"/>es Allocated cost t<span class=\"_ _7\"/>o   <span class=\"_ _3d\"> </span> <span class=\"_ _101\"> </span> <span class=\"_ _f6\"> </span> <span class=\"_ _3d\"> </span> <span class=\"_ _101\"> </span> <span class=\"_ _f6\"> </span> V<span class=\"_ _9\"/>alue at V<span class=\"_ _9\"/>alue for cost In EUR thousands  <span class=\"_ _2cd\"> </span>Number  <span class=\"_ _10a\"> </span><span class=\"ws3\">V<span class=\"_ _3\"/>alue at grant <span class=\"_ _15e\"/> <span class=\"_ _140\"> </span><span class=\"wsb\">Number  </span></span>vesting  allocation  <span class=\"_ _51\"> </span><span class=\"fc0\">2022  <span class=\"_ _b1\"> </span></span>2021    <span class=\"_ _3d\"> </span> <span class=\"_ _3d\"> </span> <span class=\"_ _3d\"> </span> <span class=\"_ _3d\"> </span> <span class=\"_ _3d\"> </span>  L<span class=\"_ _9\"/>TSP 2022, equit<span class=\"_ _5\"/>y-set<span class=\"_ _3\"/>tled (conditional)  <span class=\"_ _127\"> </span><span class=\"ws8e\">23,280  <span class=\"_ _46\"> </span>595.3  <span class=\"_ _53\"> </span>1<span class=\"_ _3\"/>2,513  <span class=\"_ _5a\"> </span>n/a  <span class=\"_ _46\"> </span>320.0  <span class=\"_ _51\"> </span>1<span class=\"_ _3\"/>06.4  <span class=\"_ _86\"> </span>\u2013  </span>8L<span class=\"_ _9\"/>TSP  2021, equity-set<span class=\"_ _7\"/>tled (conditional)  <span class=\"_ _2ce\"> </span><span class=\"ws8e\">2,038  <span class=\"_ _3f\"> </span>72.0  <span class=\"_ _51\"> </span>1,57<span class=\"_ _9\"/>4  <span class=\"_ _5f\"> </span>n/a  <span class=\"_ _3f\"> </span>55.6  <span class=\"_ _96\"> </span>27<span class=\"_ _1\"/>.8  <span class=\"_ _187\"> </span>\u2013  </span>8L<span class=\"_ _9\"/>TSP  2020, equity-set<span class=\"_ _7\"/>tled (conditional)  <span class=\"_ _1d4\"> </span><span class=\"ws8e\">945  <span class=\"_ _3f\"> </span>43.9  <span class=\"_ _46\"> </span>1,079  <span class=\"_ _3f\"> </span>29.9  <span class=\"_ _3f\"> </span>50.1  <span class=\"_ _3f\"> </span>50.1  <span class=\"_ _86\"> </span>\u2013  </span>T<span class=\"_ _8\"/>otal outstanding L<span class=\"_ _3\"/>TIPs - D.J<span class=\"_ _7\"/>.M. Ric<span class=\"_ _7\"/>helle  <span class=\"_ _1f0\"> </span>26,263  <span class=\"_ _46\"> </span>71<span class=\"_ _9\"/>1.2  <span class=\"_ _55\"> </span>15,166  <span class=\"_ _88\"> </span>29.9  <span class=\"_ _7e\"> </span>425.7  <span class=\"_ _3d\"> </span><span class=\"fs11 fc3 ws3\"> <span class=\"_ _3d\"> </span> </span> <span class=\"_ _3d\"> </span> <span class=\"_ _3d\"> </span> <span class=\"_ _3d\"> </span> <span class=\"_ _3d\"> </span> <span class=\"_ _3d\"> </span> <span class=\"_ _3d\"> </span> <span class=\"_ _3d\"> </span> 6  T<span class=\"_ _8\"/>otal L<span class=\"_ _3\"/>TIP cost - D.J<span class=\"_ _7\"/>.M. Ric<span class=\"_ _7\"/>helle  <span class=\"_ _3d\"> </span> <span class=\"_ _3d\"> </span> <span class=\"_ _3d\"> </span> <span class=\"_ _3d\"> </span> <span class=\"_ _1b2\"> </span><span class=\"fs7 fc0 wsb\">184.3  <span class=\"_ _86\"> </span><span class=\"fcb\">\u2013  </span></span> <span class=\"_ _3d\"> </span> <span class=\"_ _3d\"> </span> <span class=\"_ _3d\"> </span> <span class=\"_ _3d\"> </span> <span class=\"_ _3d\"> </span> <span class=\"_ _3d\"> </span> <span class=\"_ _3d\"> </span> L<span class=\"_ _9\"/>TSP 2022, equit<span class=\"_ _5\"/>y-set<span class=\"_ _3\"/>tled (conditional)  <span class=\"_ _214\"> </span><span class=\"ws8e\">1<span class=\"_ _7\"/>6,244  <span class=\"_ _49\"> </span>41<span class=\"_ _7\"/>5.4  <span class=\"_ _46\"> </span>8,731  <span class=\"_ _5f\"> </span>n/a  <span class=\"_ _46\"> </span>223.3  <span class=\"_ _41\"> </span>7<span class=\"_ _9\"/>4.2  <span class=\"_ _86\"> </span>\u2013  </span>L<span class=\"_ _9\"/>TSP 2021, equit<span class=\"_ _5\"/>y-set<span class=\"_ _3\"/>tled (conditional)  <span class=\"_ _298\"> </span><span class=\"ws8e\">1<span class=\"_ _9\"/>1,330  <span class=\"_ _45\"> </span>41<span class=\"_ _9\"/>1<span class=\"_ _9\"/>.3  <span class=\"_ _46\"> </span>8,752  <span class=\"_ _5f\"> </span>n/a  <span class=\"_ _45\"> </span>31<span class=\"_ _3\"/>7<span class=\"_ _1\"/>.7  <span class=\"_ _cb\"> </span>71<span class=\"_ _9\"/>.9  <span class=\"_ _49\"> </span>1<span class=\"_ _7\"/>39.8  </span>L<span class=\"_ _9\"/>TSP 2020, equit<span class=\"_ _5\"/>y-set<span class=\"_ _3\"/>tled (conditional)  <span class=\"_ _214\"> </span><span class=\"ws8e\">1<span class=\"_ _7\"/>0,375  <span class=\"_ _7c\"> </span>50<span class=\"_ _5\"/>0.8  <span class=\"_ _53\"> </span>1<span class=\"_ _9\"/>1,848  <span class=\"_ _46\"> </span>328.8  <span class=\"_ _51\"> </span>571<span class=\"_ _9\"/>.9  <span class=\"_ _b1\"> </span>231<span class=\"_ _8\"/>.4  <span class=\"_ _51\"> </span>1<span class=\"_ _3\"/>70.8  </span>T<span class=\"_ _8\"/>otal outstanding L<span class=\"_ _3\"/>TIPs - F<span class=\"_ _8\"/>. Eulder<span class=\"_ _3\"/>ink  <span class=\"_ _1fd\"> </span><span class=\"wsb\">37<span class=\"_ _1\"/>,949  <span class=\"_ _31\"> </span>1,327<span class=\"_ _1\"/>.5  <span class=\"_ _8d\"> </span>29,331  <span class=\"_ _1b2\"> </span>328.8  <span class=\"_ _30\"> </span>1,1<span class=\"_ _3\"/>12.9  </span> <span class=\"_ _3d\"> </span> L<span class=\"_ _9\"/>TSP 20<span class=\"_ _7\"/>1<span class=\"_ _7\"/>9, equity-set<span class=\"_ _7\"/>tled (set<span class=\"_ _7\"/>tled)  <span class=\"_ _1f8\"> </span><span class=\"ws8e\">1<span class=\"_ _3\"/>0,826  <span class=\"_ _46\"> </span>450.0  <span class=\"_ _190\"> </span>1<span class=\"_ _3\"/>4,886  <span class=\"_ _46\"> </span>436.5  <span class=\"_ _49\"> </span>618.0  <span class=\"_ _185\"> </span>61<span class=\"_ _9\"/>.8  <span class=\"_ _49\"> </span>21<span class=\"_ _7\"/>9.2  </span>L<span class=\"_ _9\"/>TSP 20<span class=\"_ _7\"/>18, equity-set<span class=\"_ _3\"/>tled (set<span class=\"_ _7\"/>tled)  <span class=\"_ _1f8\"> </span><span class=\"ws8e\">1<span class=\"_ _9\"/>1,235  <span class=\"_ _46\"> </span>449.1  <span class=\"_ _e6\"> </span>1<span class=\"_ _3\"/>0,1<span class=\"_ _9\"/>12  <span class=\"_ _7c\"> </span>403.5  <span class=\"_ _46\"> </span>449.1  <span class=\"_ _86\"> </span>\u2013  <span class=\"_ _3f\"> </span>40.4  </span>T<span class=\"_ _8\"/>otal L<span class=\"_ _3\"/>TIP cost - F<span class=\"_ _8\"/>. Eulder<span class=\"_ _3\"/>ink  <span class=\"_ _29c\"> </span><span class=\"fs11 fc3\"> <span class=\"_ _3d\"> </span> <span class=\"_ _3d\"> </span> <span class=\"_ _3d\"> </span> <span class=\"_ _3d\"> </span> <span class=\"_ _7f\"> </span></span><span class=\"fc0 wsb\">439.3  <span class=\"_ _1b2\"> </span><span class=\"fcb\">570.2  </span></span> <span class=\"_ _3d\"> </span> <span class=\"_ _3d\"> </span> <span class=\"_ _3d\"> </span> <span class=\"_ _3d\"> </span> <span class=\"_ _3d\"> </span> <span class=\"_ _3d\"> </span> <span class=\"_ _3d\"> </span> L<span class=\"_ _9\"/>TSP 2022, equit<span class=\"_ _5\"/>y-set<span class=\"_ _3\"/>tled (conditional)  <span class=\"_ _214\"> </span><span class=\"ws8e\">1<span class=\"_ _7\"/>4,285  <span class=\"_ _46\"> </span>365.3  <span class=\"_ _83\"> </span>7<span class=\"_ _1\"/>,678  <span class=\"_ _5f\"> </span>n/a  <span class=\"_ _49\"> </span>1<span class=\"_ _7\"/>96.3  <span class=\"_ _3f\"> </span>65.3  <span class=\"_ _86\"> </span>\u2013  </span>8L<span class=\"_ _9\"/>TSP  2021, equity-set<span class=\"_ _7\"/>tled (conditional)  <span class=\"_ _2ce\"> </span><span class=\"ws8e\">1,957  <span class=\"_ _3f\"> </span>69.2  <span class=\"_ _49\"> </span>1,51<span class=\"_ _7\"/>2  <span class=\"_ _5f\"> </span>n/a  <span class=\"_ _3f\"> </span>53.4  <span class=\"_ _3f\"> </span>26.7  <span class=\"_ _86\"> </span>\u2013  </span>8L<span class=\"_ _9\"/>TSP  2020, equity-set<span class=\"_ _7\"/>tled (conditional)  <span class=\"_ _1d4\"> </span><span class=\"ws8e\">847  <span class=\"_ _3f\"> </span>39.3  <span class=\"_ _db\"> </span>967  <span class=\"_ _3f\"> </span>26.8  <span class=\"_ _3f\"> </span>44.9  <span class=\"_ _3f\"> </span>44.9  <span class=\"_ _86\"> </span>\u2013  </span>T<span class=\"_ _8\"/>otal outstanding L<span class=\"_ _3\"/>TIPs - M.E.G. Gilsing  <span class=\"_ _1a9\"> </span>17<span class=\"_ _1\"/>,089  <span class=\"_ _7f\"> </span>473.8  <span class=\"_ _69\"> </span>1<span class=\"_ _3\"/>0,157  <span class=\"_ _88\"> </span>26.8  <span class=\"_ _1b2\"> </span>294.6  <span class=\"_ _3d\"> </span><span class=\"fs11 fc3 ws3\"> <span class=\"_ _3d\"> </span> </span> <span class=\"_ _3d\"> </span> <span class=\"_ _3d\"> </span> <span class=\"_ _3d\"> </span> <span class=\"_ _3d\"> </span> <span class=\"_ _3d\"> </span> <span class=\"_ _3d\"> </span> <span class=\"_ _3d\"> </span> 7  T<span class=\"_ _8\"/>otal L<span class=\"_ _3\"/>TIP cost - M.E.G. Gilsing  <span class=\"_ _3d\"> </span> <span class=\"_ _3d\"> </span> <span class=\"_ _3d\"> </span> <span class=\"_ _3d\"> </span> <span class=\"_ _1b2\"> </span><span class=\"fs7 fc0 wsb\">136.9  <span class=\"_ _86\"> </span><span class=\"fcb\">\u2013  </span></span> <span class=\"_ _3d\"> </span> <span class=\"_ _3d\"> </span> <span class=\"_ _3d\"> </span> <span class=\"_ _3d\"> </span> <span class=\"_ _3d\"> </span> <span class=\"_ _3d\"> </span> <span class=\"_ _3d\"> </span> T<span class=\"_ _8\"/>otal Outstanding L<span class=\"_ _3\"/>TIPs - members Executiv<span class=\"_ _7\"/>e Board  <span class=\"_ _157\"> </span>81,30<span class=\"_ _7\"/>1  <span class=\"_ _228\"> </span>2,512.5  <span class=\"_ _8d\"> </span>54,654  <span class=\"_ _1b2\"> </span>385.5  <span class=\"_ _228\"> </span>1,833.2  <span class=\"_ _3d\"> </span><span class=\"fs11 fc3 ws3\"> <span class=\"_ _3d\"> </span> </span>T<span class=\"_ _8\"/>otal L<span class=\"_ _3\"/>TIP cost - members Executiv<span class=\"_ _7\"/>e Board  <span class=\"_ _2a1\"> </span><span class=\"fs11 fc3\"> <span class=\"_ _3d\"> </span> <span class=\"_ _3d\"> </span> <span class=\"_ _3d\"> </span> <span class=\"_ _3d\"> </span> <span class=\"_ _7f\"> </span></span><span class=\"fc0 wsb\">760.5  <span class=\"_ _1b2\"> </span><span class=\"fcb\">570.2  </span></span> <span class=\"_ _3d\"> </span> <span class=\"_ _3d\"> </span> <span class=\"_ _3d\"> </span> <span class=\"_ _3d\"> </span> <span class=\"_ _3d\"> </span> <span class=\"_ _3d\"> </span> <span class=\"_ _3d\"> </span> L<span class=\"_ _9\"/>TSP 2021, equit<span class=\"_ _5\"/>y-set<span class=\"_ _3\"/>tled (conditional)  <span class=\"_ _2c0\"> </span><span class=\"ws8e\">18,1<span class=\"_ _3\"/>7<span class=\"_ _3\"/>6  <span class=\"_ _46\"> </span>659.8  <span class=\"_ _190\"> </span>14,041  <span class=\"_ _5a\"> </span>n/a  <span class=\"_ _46\"> </span>509.7  <span class=\"_ _190\"> </span>- <span class=\"_ _c\"> </span>163.3  <span class=\"_ _7c\"> </span>673.0  </span>L<span class=\"_ _9\"/>TSP 2020, equit<span class=\"_ _5\"/>y-set<span class=\"_ _3\"/>tled (conditional)  <span class=\"_ _214\"> </span><span class=\"ws8e\">1<span class=\"_ _7\"/>6,643  <span class=\"_ _46\"> </span>803.4  <span class=\"_ _c7\"> </span>19,006  <span class=\"_ _83\"> </span>527<span class=\"_ _1\"/>.4  <span class=\"_ _45\"> </span>91<span class=\"_ _3\"/>7<span class=\"_ _1\"/>.4  <span class=\"_ _3f\"> </span>98.0  <span class=\"_ _83\"> </span>547<span class=\"_ _8\"/>.1  </span>T<span class=\"_ _8\"/>otal outstanding L<span class=\"_ _3\"/>TIPs - E.M. Hoekstr<span class=\"_ _7\"/>a  <span class=\"_ _1a9\"> </span>34,819  <span class=\"_ _4d\"> </span>1,463.2  <span class=\"_ _8d\"> </span>33,047  <span class=\"_ _49\"> </span>527<span class=\"_ _1\"/>.4  <span class=\"_ _31\"> </span>1,427<span class=\"_ _1\"/>.1  <span class=\"_ _3d\"> </span><span class=\"fs11 fc3 ws3\"> <span class=\"_ _3d\"> </span> </span>L<span class=\"_ _9\"/>TSP 20<span class=\"_ _7\"/>1<span class=\"_ _7\"/>9, equity-set<span class=\"_ _7\"/>tled (set<span class=\"_ _7\"/>tled)  <span class=\"_ _1e4\"> </span><span class=\"ws8e\">1<span class=\"_ _3\"/>7<span class=\"_ _1\"/>,380  <span class=\"_ _b1\"> </span>721<span class=\"_ _8\"/>.8  <span class=\"_ _c7\"> </span>23,898  <span class=\"_ _46\"> </span>700.7  <span class=\"_ _46\"> </span>992.5  <span class=\"_ _86\"> </span>\u2013  <span class=\"_ _b1\"> </span>451<span class=\"_ _8\"/>.1  </span>L<span class=\"_ _9\"/>TSP 20<span class=\"_ _7\"/>18, equity-set<span class=\"_ _3\"/>tled (set<span class=\"_ _7\"/>tled)  <span class=\"_ _2cf\"> </span><span class=\"ws8e\">1<span class=\"_ _3\"/>7<span class=\"_ _1\"/>,554  <span class=\"_ _83\"> </span>70<span class=\"_ _7\"/>1<span class=\"_ _9\"/>.7  <span class=\"_ _190\"> </span>1<span class=\"_ _3\"/>5,799  <span class=\"_ _46\"> </span>630.4  <span class=\"_ _83\"> </span>70<span class=\"_ _7\"/>1<span class=\"_ _9\"/>.7  <span class=\"_ _86\"> </span>\u2013  <span class=\"_ _3f\"> </span>63.2  </span>4  T<span class=\"_ _8\"/>otal L<span class=\"_ _3\"/>TIP cost - E.M. Hoekstr<span class=\"_ _7\"/>a  <span class=\"_ _3d\"> </span> <span class=\"_ _3d\"> </span> <span class=\"_ _3d\"> </span> <span class=\"_ _3d\"> </span> <span class=\"_ _18a\"> </span><span class=\"fs7 fc0 wsb\">- <span class=\"_ _23\"> </span>65.3  <span class=\"_ _e1\"> </span><span class=\"fcb\">1,734.4  </span></span> <span class=\"_ _3d\"> </span> <span class=\"_ _3d\"> </span> <span class=\"_ _3d\"> </span> <span class=\"_ _3d\"> </span> <span class=\"_ _3d\"> </span> <span class=\"_ _3d\"> </span> <span class=\"_ _3d\"> </span> L<span class=\"_ _9\"/>TSP 2022, equit<span class=\"_ _5\"/>y-set<span class=\"_ _3\"/>tled (conditional)  <span class=\"_ _61\"> </span><span class=\"ws8e\">5,1<span class=\"_ _7\"/>55  <span class=\"_ _83\"> </span>1<span class=\"_ _3\"/>31<span class=\"_ _9\"/>.8  <span class=\"_ _46\"> </span>2,771  <span class=\"_ _5f\"> </span>n/a  <span class=\"_ _3f\"> </span>70.8  <span class=\"_ _3f\"> </span>70.8  <span class=\"_ _86\"> </span>\u2013  </span>L<span class=\"_ _9\"/>TSP 2021, equit<span class=\"_ _5\"/>y-set<span class=\"_ _3\"/>tled (conditional)  <span class=\"_ _298\"> </span><span class=\"ws8e\">1<span class=\"_ _9\"/>1,330  <span class=\"_ _45\"> </span>41<span class=\"_ _9\"/>1<span class=\"_ _9\"/>.3  <span class=\"_ _46\"> </span>8,752  <span class=\"_ _5f\"> </span>n/a  <span class=\"_ _45\"> </span>31<span class=\"_ _3\"/>7<span class=\"_ _1\"/>.7  <span class=\"_ _3f\"> </span>- <span class=\"_ _23\"> </span>3.6  <span class=\"_ _b1\"> </span>321<span class=\"_ _8\"/>.3  </span>L<span class=\"_ _9\"/>TSP 2020, equit<span class=\"_ _5\"/>y-set<span class=\"_ _3\"/>tled (conditional)  <span class=\"_ _214\"> </span><span class=\"ws8e\">1<span class=\"_ _7\"/>0,097  <span class=\"_ _83\"> </span>487<span class=\"_ _1\"/>.4  <span class=\"_ _53\"> </span>1<span class=\"_ _9\"/>1,531  <span class=\"_ _46\"> </span>320.0  <span class=\"_ _46\"> </span>556.6  <span class=\"_ _49\"> </span>1<span class=\"_ _7\"/>25.3  <span class=\"_ _46\"> </span>266.0  </span>1  2  3   Conditional aw<span class=\"_ _7\"/>ards Number of expected shar<span class=\"_ _7\"/>es Allocated cost t<span class=\"_ _7\"/>o   <span class=\"_ _3d\"> </span> <span class=\"_ _101\"> </span> <span class=\"_ _f6\"> </span> <span class=\"_ _3d\"> </span> <span class=\"_ _101\"> </span> <span class=\"_ _f6\"> </span> V<span class=\"_ _9\"/>alue at V<span class=\"_ _9\"/>alue for cost In EUR thousands  <span class=\"_ _2cd\"> </span>Number  <span class=\"_ _10a\"> </span><span class=\"ws3\">V<span class=\"_ _3\"/>alue at grant <span class=\"_ _15e\"/> <span class=\"_ _140\"> </span><span class=\"wsb\">Number  </span></span>vesting  allocation  <span class=\"_ _51\"> </span><span class=\"fc0\">2022  <span class=\"_ _b1\"> </span></span>2021  T<span class=\"_ _8\"/>otal outstanding L<span class=\"_ _3\"/>TIPs - G.B.<span class=\"_ _7\"/> Paulides  <span class=\"_ _2d0\"> </span><span class=\"wsb\">26,582  <span class=\"_ _228\"> </span>1,030.5  <span class=\"_ _8d\"> </span>23,054  <span class=\"_ _1b2\"> </span>320.0  <span class=\"_ _1b2\"> </span>945.1  </span> <span class=\"_ _3d\"> </span> L<span class=\"_ _9\"/>TSP 20<span class=\"_ _7\"/>1<span class=\"_ _7\"/>9, equity-set<span class=\"_ _7\"/>tled (set<span class=\"_ _7\"/>tled)  <span class=\"_ _1f8\"> </span><span class=\"ws8e\">1<span class=\"_ _3\"/>0,051  <span class=\"_ _45\"> </span>41<span class=\"_ _3\"/>7<span class=\"_ _1\"/>.4  <span class=\"_ _190\"> </span>13,820  <span class=\"_ _7c\"> </span>405.2  <span class=\"_ _46\"> </span>573.9  <span class=\"_ _3f\"> </span>53.0  <span class=\"_ _83\"> </span>207<span class=\"_ _1\"/>.9  </span>L<span class=\"_ _9\"/>TSP 20<span class=\"_ _7\"/>18, equity-set<span class=\"_ _3\"/>tled (set<span class=\"_ _7\"/>tled)  <span class=\"_ _1f8\"> </span><span class=\"ws8e\">1<span class=\"_ _3\"/>0,183  <span class=\"_ _b1\"> </span>407<span class=\"_ _8\"/>.0  <span class=\"_ _49\"> </span>9,1<span class=\"_ _7\"/>65  <span class=\"_ _46\"> </span>365.7  <span class=\"_ _83\"> </span>407<span class=\"_ _1\"/>.0  <span class=\"_ _86\"> </span>\u2013  <span class=\"_ _3f\"> </span>36.6  </span>5  T<span class=\"_ _8\"/>otal L<span class=\"_ _3\"/>TIP cost - G.B.<span class=\"_ _7\"/> Paulides  <span class=\"_ _3d\"> </span> <span class=\"_ _3d\"> </span> <span class=\"_ _3d\"> </span> <span class=\"_ _3d\"> </span> <span class=\"_ _1b2\"> </span><span class=\"fs7 fc0 wsb\">245.5  <span class=\"_ _19c\"> </span><span class=\"fcb\">831<span class=\"_ _7\"/>.8  </span></span> <span class=\"_ _3d\"> </span> <span class=\"_ _3d\"> </span> <span class=\"_ _3d\"> </span> <span class=\"_ _3d\"> </span> <span class=\"_ _3d\"> </span> <span class=\"_ _3d\"> </span> <span class=\"_ _3d\"> </span> T<span class=\"_ _8\"/>otal outstanding L<span class=\"_ _3\"/>TIPs - for<span class=\"_ _3\"/>mer members Executive Boar<span class=\"_ _7\"/>d  <span class=\"_ _145\"> </span><span class=\"wsb\">61,40<span class=\"_ _7\"/>1  <span class=\"_ _228\"> </span>2,493.7  <span class=\"_ _18d\"> </span>56,1<span class=\"_ _7\"/>0<span class=\"_ _7\"/>1  <span class=\"_ _46\"> </span>847<span class=\"_ _8\"/>.4  <span class=\"_ _228\"> </span>2,372.2  <span class=\"_ _3d\"> </span><span class=\"fs11 fc3 ws3\"> <span class=\"_ _3d\"> </span> </span></span> <span class=\"_ _3d\"> </span> <span class=\"_ _3d\"> </span> <span class=\"_ _3d\"> </span> <span class=\"_ _3d\"> </span> <span class=\"_ _3d\"> </span> <span class=\"_ _3d\"> </span> <span class=\"_ _3d\"> </span> T<span class=\"_ _8\"/>otal L<span class=\"_ _3\"/>TIP cost - for<span class=\"_ _3\"/>mer members Executive Boar<span class=\"_ _7\"/>d <span class=\"_ _6e\"> </span><span class=\"fs11 fc3\"> <span class=\"_ _3d\"> </span> <span class=\"_ _3d\"> </span> <span class=\"_ _3d\"> </span> <span class=\"_ _3d\"> </span> <span class=\"_ _7f\"> </span></span><span class=\"fc0 wsb\">180.2  <span class=\"_ _228\"> </span><span class=\"fcb\">2,566.2  </span></span> <span class=\"_ _3d\"> </span> <span class=\"_ _3d\"> </span> <span class=\"_ _3d\"> </span> <span class=\"_ _3d\"> </span> <span class=\"_ _3d\"> </span> <span class=\"_ _3d\"> </span> <span class=\"_ _3d\"> </span> T<span class=\"_ _8\"/>otal outstanding L<span class=\"_ _3\"/>TIPs - (for<span class=\"_ _3\"/>mer) members Executive Boar<span class=\"_ _7\"/>d  <span class=\"_ _67\"> </span><span class=\"wsb\">142,702  <span class=\"_ _4d\"> </span>5,0<span class=\"_ _5\"/>06.2  <span class=\"_ _11e\"> </span>1<span class=\"_ _3\"/>1<span class=\"_ _3\"/>0,755  <span class=\"_ _e1\"> </span>1,232.9  <span class=\"_ _228\"> </span>4,205.4  <span class=\"_ _3d\"> </span><span class=\"fs11 fc3 ws3\"> <span class=\"_ _3d\"> </span> </span></span> <span class=\"_ _3d\"> </span> <span class=\"_ _3d\"> </span> <span class=\"_ _3d\"> </span> <span class=\"_ _3d\"> </span> <span class=\"_ _3d\"> </span> <span class=\"_ _3d\"> </span> <span class=\"_ _3d\"> </span> T<span class=\"_ _8\"/>otal L<span class=\"_ _3\"/>TIP cost - (for<span class=\"_ _3\"/>mer) members Executive Boar<span class=\"_ _7\"/>d   <span class=\"_ _3d\"> </span> <span class=\"_ _3d\"> </span> <span class=\"_ _3d\"> </span> <span class=\"_ _3d\"> </span> <span class=\"_ _1b2\"> </span><span class=\"fs7 fc0 wsb\">940.7  <span class=\"_ _228\"> </span><span class=\"fcb\">3,136.4  </span></span> <span class=\"_ _3d\"> </span> <span class=\"_ _3d\"> </span> <span class=\"_ _3d\"> </span> <span class=\"_ _3d\"> </span> <span class=\"_ _3d\"> </span> <span class=\"_ _3d\"> </span> <span class=\"_ _3d\"> </span> L<span class=\"_ _9\"/>TSP 2022, equit<span class=\"_ _5\"/>y-set<span class=\"_ _3\"/>tled (conditional)  <span class=\"_ _23c\"> </span><span class=\"ws8e\">1<span class=\"_ _3\"/>1<span class=\"_ _3\"/>0,538  <span class=\"_ _31\"> </span>2,754.1  <span class=\"_ _c7\"> </span>59,967  <span class=\"_ _1ac\"> </span>n/a  <span class=\"_ _31\"> </span>1,494.1  <span class=\"_ _46\"> </span>232.3  <span class=\"_ _86\"> </span>\u2013  </span>L<span class=\"_ _9\"/>TSP 2021, equit<span class=\"_ _5\"/>y-set<span class=\"_ _3\"/>tled (conditional)  <span class=\"_ _127\"> </span><span class=\"ws8e\">75,820  <span class=\"_ _8d\"> </span>2,67<span class=\"_ _3\"/>6.7  <span class=\"_ _c7\"> </span>58,571  <span class=\"_ _5f\"> </span>n/a  <span class=\"_ _44\"> </span>2,067<span class=\"_ _1\"/>.9  <span class=\"_ _46\"> </span>355.4  <span class=\"_ _31\"> </span>1,434.2  </span>L<span class=\"_ _9\"/>TSP 2020, equit<span class=\"_ _5\"/>y-set<span class=\"_ _3\"/>tled (conditional)  <span class=\"_ _127\"> </span><span class=\"ws8e\">71,739  <span class=\"_ _31\"> </span>3,323.7  <span class=\"_ _c7\"> </span>81,926  <span class=\"_ _55\"> </span>2,273.4  <span class=\"_ _31\"> </span>3,795.6  <span class=\"_ _31\"> </span>1,352.4  <span class=\"_ _55\"> </span>1,585.9  </span>T<span class=\"_ _8\"/>otal outstanding L<span class=\"_ _3\"/>TIPs - other senior executiv<span class=\"_ _7\"/>es  <span class=\"_ _c4\"> </span>258,097  <span class=\"_ _e1\"> </span>8,754.5  <span class=\"_ _d0\"> </span>20<span class=\"_ _5\"/>0,464  <span class=\"_ _228\"> </span>2,273.4  <span class=\"_ _69\"> </span>7<span class=\"_ _8\"/>,357<span class=\"_ _8\"/>.6  <span class=\"_ _3d\"> </span><span class=\"fs11 fc3 ws3\"> <span class=\"_ _3d\"> </span> </span>L<span class=\"_ _9\"/>TSP 20<span class=\"_ _7\"/>1<span class=\"_ _7\"/>9, equity-set<span class=\"_ _7\"/>tled (set<span class=\"_ _7\"/>tled)  <span class=\"_ _35\"> </span><span class=\"ws8e\">54,849  <span class=\"_ _55\"> </span>2,280.7  <span class=\"_ _190\"> </span>75,41<span class=\"_ _3\"/>6  <span class=\"_ _c7\"> </span>2,21<span class=\"_ _9\"/>1<span class=\"_ _9\"/>.2  <span class=\"_ _55\"> </span>3,1<span class=\"_ _7\"/>36.0  <span class=\"_ _46\"> </span>382.0  <span class=\"_ _31\"> </span>1,435.5  </span>L<span class=\"_ _9\"/>TSP 20<span class=\"_ _7\"/>18, equity-set<span class=\"_ _3\"/>tled (set<span class=\"_ _7\"/>tled)  <span class=\"_ _35\"> </span><span class=\"ws8e\">59,941  <span class=\"_ _31\"> </span>2,303.3  <span class=\"_ _c7\"> </span>53,949  <span class=\"_ _8d\"> </span>2,31<span class=\"_ _3\"/>9.3  <span class=\"_ _55\"> </span>2,303.3  <span class=\"_ _86\"> </span>\u2013  <span class=\"_ _49\"> </span>1<span class=\"_ _3\"/>98.3  </span>T<span class=\"_ _8\"/>otal L<span class=\"_ _3\"/>TIP cost - other senior executiv<span class=\"_ _7\"/>es  <span class=\"_ _241\"> </span><span class=\"fs11 fc3\"> <span class=\"_ _82\"> </span> <span class=\"_ _3d\"> </span> <span class=\"_ _3d\"> </span> <span class=\"_ _3d\"> </span> <span class=\"_ _e1\"> </span></span><span class=\"fc0 wsb\">2,322.1  <span class=\"_ _228\"> </span><span class=\"fcb\">4,653.9  </span></span> <span class=\"_ _3d\"> </span> <span class=\"_ _3d\"> </span> <span class=\"_ _3d\"> </span> <span class=\"_ _3d\"> </span> <span class=\"_ _3d\"> </span> <span class=\"_ _3d\"> </span> <span class=\"_ _3d\"> </span> T<span class=\"_ _8\"/>otal outstanding L<span class=\"_ _3\"/>TIPs and total L<span class=\"_ _9\"/>TIP cost  <span class=\"_ _2a5\"> </span><span class=\"wsb\">40<span class=\"_ _5\"/>0,799  <span class=\"_ _18e\"> </span>13,760.7  <span class=\"_ _1b4\"> </span>31<span class=\"_ _3\"/>1,219  <span class=\"_ _228\"> </span>3,506.3  <span class=\"_ _93\"> </span>1<span class=\"_ _9\"/>1,563.0  <span class=\"_ _228\"> </span><span class=\"fc0\">3,262.8  <span class=\"_ _31\"> </span></span>7<span class=\"_ _1\"/>,790.3  </span>1 <span class=\"_ _b3\"> </span>On a target level of 1<span class=\"_ _3\"/>00%. For L<span class=\"_ _9\"/>TSPs 20<span class=\"_ _7\"/>18 and 20<span class=\"_ _9\"/>19 of the Ex<span class=\"_ _7\"/>ecutive Board, the conditional a<span class=\"_ _7\"/>wards are based on the salary on the date of grant. <span class=\"_ _3\"/>The v<span class=\"_ _7\"/>alue at grant is the conditional number of shares multiplied by the av<span class=\"_ _7\"/>erage share price at the grant date.  2 <span class=\"_ _b3\"> </span>The v<span class=\"_ _7\"/>alue for cost allocation for the equity-set<span class=\"_ _3\"/>tled L<span class=\"_ _3\"/>TSPs is based on the number of expected or vested shares and multiplied b<span class=\"_ _7\"/>y the fair value per share a<span class=\"_ _7\"/>ward at the grant date, whic<span class=\"_ _7\"/>h has been reduced with the expected discounted future dividends pa<span class=\"_ _7\"/>yable during the respective v<span class=\"_ _7\"/>esting periods since the holders of shares are not entitled to receive dividends during the vesting period. <span class=\"_ _9\"/>T<span class=\"_ _7\"/>he value for cost allocation f<span class=\"_ _7\"/>or the cash-set<span class=\"_ _7\"/>tled L<span class=\"_ _3\"/>TSPs is based on the number of expected or v<span class=\"_ _7\"/>ested shares and multiplied by the fair v<span class=\"_ _7\"/>alue per award at the reporting date less discounted e<span class=\"_ _7\"/>xpected future dividend pa<span class=\"_ _7\"/>yments. Expected dividends have been applied in accordance with the dividend policy of the compan<span class=\"_ _7\"/>y<span class=\"_ _3\"/>. The estimated v<span class=\"_ _7\"/>esting percent<span class=\"_ _5\"/>ages of the L<span class=\"_ _9\"/>TSPs are based on a Monte Carlo simulation scenario analysis.  3 <span class=\"_ _b3\"> </span>The (f<span class=\"_ _7\"/>air) value of the employ<span class=\"_ _7\"/>ee ser<span class=\"_ _5\"/>vices received in e<span class=\"_ _7\"/>xc<span class=\"_ _7\"/>hange for the a<span class=\"_ _7\"/>wards is recognized rateably o<span class=\"_ _7\"/>ver the vesting period of the plan.  4 <span class=\"_ _b3\"> </span>On 1<span class=\"_ _7\"/>9 October 2021, Eelco Hoekstra, Chief Executive Of<span class=\"_ _3\"/>ficer and Chairman of the Executive B<span class=\"_ _7\"/>oard has informed the Supervisor<span class=\"_ _5\"/>y Board that he has decided to step down as per 31 December 2021<span class=\"_ _8\"/>. <span class=\"_ _3\"/>The recognition of the L<span class=\"_ _9\"/>TSP 20<span class=\"_ _7\"/>1<span class=\"_ _7\"/>9, 2020 and 2021 remains fully equity settled f<span class=\"_ _7\"/>or Eelco Hoekstra in accordance with the plan rules. <span class=\"_ _9\"/>The costs of the L<span class=\"_ _9\"/>TSP were allocated to the remaining period of service.  5 <span class=\"_ _b3\"> </span>On 1<span class=\"_ _3\"/>0 December 2021, Gerard Paulides, Chief Financial Of<span class=\"_ _7\"/>ficer has informed the Supervisor<span class=\"_ _5\"/>y Board that he has decided to step down as per 20 <span class=\"_ _7\"/>April 2022. <span class=\"_ _9\"/>The recognition of the L<span class=\"_ _9\"/>TSP 20<span class=\"_ _7\"/>19, 2020 and 2021 remains fully equity set<span class=\"_ _3\"/>tled for <span class=\"_ _9\"/> <span class=\"_ _9\"/> <span class=\"_ _8\"/> Gerard Paulides in accordance with the plan r<span class=\"_ _7\"/>ules. <span class=\"_ _9\"/>The costs of the L<span class=\"_ _9\"/>TSP were allocated to the remaining period of ser<span class=\"_ _5\"/>vice.  6 <span class=\"_ _b3\"> </span>F<span class=\"_ _7\"/>ollowing his appointment in the extraordinary General Meeting on 1<span class=\"_ _7\"/>7 December<span class=\"_ _3\"/>, 2021, Dick Ric<span class=\"_ _3\"/>helle st<span class=\"_ _5\"/>arted his Board membership as Chairman of the Ex<span class=\"_ _7\"/>ecutive B<span class=\"_ _7\"/>oard and CEO on 1 Januar<span class=\"_ _5\"/>y<span class=\"_ _3\"/>, 2022.   7 <span class=\"_ _b3\"> </span>F<span class=\"_ _7\"/>ollowing the announcement on 1<span class=\"_ _3\"/>0 December<span class=\"_ _3\"/>, 2021, Michiel Gilsing was appointed as member of the Ex<span class=\"_ _7\"/>ecutive B<span class=\"_ _7\"/>oard and CFO on 20 April, 2022.  8 <span class=\"_ _b3\"> </span>Pre<span class=\"_ _7\"/>viously reported under other senior executiv<span class=\"_ _7\"/>es.   Note 7<span class=\"_ _2\"/>.3 Related par<span class=\"_ _7\"/>ties  T<span class=\"_ _1\"/>ransactions with Supervisory Boar<span class=\"_ _7\"/>d members and Executiv<span class=\"_ _7\"/>e Board members <span class=\"_ _25\"/> F<span class=\"_ _7\"/>or the remuneration of Super<span class=\"_ _5\"/>visor<span class=\"_ _5\"/>y Board members and Ex<span class=\"_ _7\"/>ecutive B<span class=\"_ _7\"/>oard members, the ke<span class=\"_ _7\"/>y management of the Group, ref<span class=\"_ _7\"/>erence is made to the sections Remuneration of the Super<span class=\"_ _5\"/>visor<span class=\"_ _5\"/>y Board in 2022 and Ex<span class=\"_ _7\"/>ecutive B<span class=\"_ _7\"/>oard Remuneration in 2022 of the R<span class=\"_ _7\"/>emuneration report, whic<span class=\"_ _3\"/>h are deemed part of these financial st<span class=\"_ _5\"/>atements.  No loans, advances or guarantees ha<span class=\"_ _7\"/>ve been pro<span class=\"_ _7\"/>vided to current or former members of the Super<span class=\"_ _5\"/>visor<span class=\"_ _5\"/>y Board and the Ex<span class=\"_ _7\"/>ecutive B<span class=\"_ _7\"/>oard.  F<span class=\"_ _7\"/>or both years presented, the Group has not conducted an<span class=\"_ _7\"/>y transactions with companies in whic<span class=\"_ _3\"/>h Executive B<span class=\"_ _7\"/>oard members and/or persons closely related to them hav<span class=\"_ _7\"/>e a significant financial interest.  T<span class=\"_ _1\"/>ransactions with joint v<span class=\"_ _7\"/>entur<span class=\"_ _7\"/>es and associates   The transactions with our joint v<span class=\"_ _7\"/>entures and associates, other than pro<span class=\"_ _7\"/>viding equity and receiving dividends, principally consist of f<span class=\"_ _7\"/>ees for services provided by the Group, loans issued by the Group and the related interest income.   <span class=\"_ _1a\"> </span><span class=\"fs7 fcd\">Joint v<span class=\"_ _7\"/>entures  <span class=\"_ _bc\"> </span>Associates  <span class=\"_ _96\"> </span>T<span class=\"_ _9\"/>otal  </span>  <span class=\"_ _e6\"> </span> <span class=\"_ _7e\"> </span> <span class=\"_ _131\"> </span> <span class=\"_ _7e\"> </span> <span class=\"_ _4f\"> </span> In EUR millions  <span class=\"_ _2ba\"> </span>2022  <span class=\"_ _ce\"> </span><span class=\"fc7\">2021  <span class=\"_ _76\"> </span></span>2022  <span class=\"_ _ce\"> </span><span class=\"fc7\">2021  <span class=\"_ _76\"> </span></span>2022  <span class=\"_ _ce\"> </span>2021Other operating income  <span class=\"_ _4a\"> </span><span class=\"ws8e\">15.8  <span class=\"_ _fb\"> </span>13.6  <span class=\"_ _159\"> </span>0.9  <span class=\"_ _bc\"> </span>0.3  <span class=\"_ _b0\"> </span>1<span class=\"_ _7\"/>6.7  <span class=\"_ _b0\"> </span>1<span class=\"_ _7\"/>3.9  </span>T<span class=\"_ _1\"/>ransactions with major shar<span class=\"_ _7\"/>eholders  Besides the annual dividend distribution, no material related party transactions hav<span class=\"_ _7\"/>e been entered into with the major shareholders during the years presented.  V<span class=\"_ _3\"/>opak has been informed b<span class=\"_ _7\"/>y HAL Holding N.V<span class=\"_ _8\"/>. (\u2018HAL<span class=\"_ _2\"/>\u2019), that it is tec<span class=\"_ _7\"/>hnically required for HAL to consolidate <span class=\"_ _3\"/>V<span class=\"_ _9\"/>opak in its Consolidated financial st<span class=\"_ _5\"/>atements as from 1 January 20<span class=\"_ _3\"/>14. Accordingly<span class=\"_ _9\"/>, HAL has requested <span class=\"_ _3\"/>V<span class=\"_ _3\"/>opak to provide detailed accounting information with respect to the Consolidated financial statements in order for HAL to be able to consolidate V<span class=\"_ _3\"/>opak in its Consolidated statements. <span class=\"_ _9\"/>T<span class=\"_ _9\"/>o f<span class=\"_ _7\"/>acilit<span class=\"_ _5\"/>ate HAL in complying with its obligations under IFRS 1<span class=\"_ _9\"/>0, a Memorandum of Underst<span class=\"_ _5\"/>anding w<span class=\"_ _7\"/>as signed bet<span class=\"_ _5\"/>ween <span class=\"_ _9\"/>V<span class=\"_ _3\"/>opak and HAL with respect to confidentiality<span class=\"_ _3\"/>, the process of exc<span class=\"_ _3\"/>hanging information, subsequent e<span class=\"_ _7\"/>vents procedures, external auditor in<span class=\"_ _7\"/>volv<span class=\"_ _7\"/>ement and at<span class=\"_ _7\"/>tendance rights to the A<span class=\"_ _3\"/>udit Committee meetings for an independent financial e<span class=\"_ _7\"/>xpert on behalf of HAL.  T<span class=\"_ _1\"/>ransactions with pension funds   Related party transactions with <span class=\"_ _3\"/>V<span class=\"_ _9\"/>opak\u2019<span class=\"_ _3\"/>s pension funds are presented in note 9.4.  Note 7<span class=\"_ _2\"/>.4 Fees paid t<span class=\"_ _7\"/>o auditors appoint<span class=\"_ _3\"/>ed at the <span class=\"_ _3\"/>Annual General Meeting <span class=\"_ _3\"/> The f<span class=\"_ _3\"/>ees listed in the t<span class=\"_ _5\"/>able below relate to the procedures applied to the compan<span class=\"_ _3\"/>y and its consolidated Group entities by Deloit<span class=\"_ _3\"/>te A<span class=\"_ _7\"/>ccountants B.V<span class=\"_ _8\"/>., the Netherlands, the external auditor as ref<span class=\"_ _7\"/>erred to in Section 1(1) of the Dutc<span class=\"_ _3\"/>h A<span class=\"_ _7\"/>ccounting Firms Oversight <span class=\"_ _7\"/>Act (Dutc<span class=\"_ _3\"/>h acronym: <span class=\"_ _9\"/>Wt<span class=\"_ _5\"/>a), as w<span class=\"_ _7\"/>ell as by other Dutc<span class=\"_ _3\"/>h and foreign-based Deloit<span class=\"_ _3\"/>te individual partnerships and legal entities, including their tax ser<span class=\"_ _5\"/>vices and advisor<span class=\"_ _5\"/>y groups.  In EUR millions  <span class=\"_ _e2\"> </span><span class=\"fs7 fc0 wsb\">2022  <span class=\"_ _51\"> </span><span class=\"fc7\">2021  </span></span>Financial statements audit fees  <span class=\"_ _25d\"> </span><span class=\"ws8e\">1<span class=\"_ _8\"/>.7  <span class=\"_ _10d\"> </span>1<span class=\"_ _9\"/>.6  </span>Other assurance f<span class=\"_ _7\"/>ees  <span class=\"_ _11c\"> </span><span class=\"ws8e\">0.1  <span class=\"_ _5a\"> </span>0.1  </span>T<span class=\"_ _8\"/>otal  <span class=\"_ _227\"> </span><span class=\"fc0 wsb\">1<span class=\"_ _7\"/>.8  <span class=\"_ _1c3\"> </span><span class=\"fcb\">1<span class=\"_ _7\"/>.7  </span></span>The financial statements audit f<span class=\"_ _7\"/>ees include the aggregate f<span class=\"_ _7\"/>ees in 2022 and 2021 for prof<span class=\"_ _7\"/>essional ser<span class=\"_ _5\"/>vices rendered for the audit of <span class=\"_ _9\"/>V<span class=\"_ _3\"/>opak\u2019<span class=\"_ _9\"/>s annual financial st<span class=\"_ _5\"/>atements and annual statutor<span class=\"_ _5\"/>y financial statements of subsidiaries or ser<span class=\"_ _5\"/>vices that are normally provided by the auditor in connection with the audits.  The other assurance f<span class=\"_ _3\"/>ees include the aggregate fees in<span class=\"_ _3\"/>voiced for assurance and services for other audit ser<span class=\"_ _5\"/>vices, whic<span class=\"_ _3\"/>h generally only the company\u2019<span class=\"_ _9\"/>s independent auditor can reasonably provide, suc<span class=\"_ _3\"/>h as the sustainabilit<span class=\"_ _5\"/>y revie<span class=\"_ _7\"/>w<span class=\"_ _3\"/>, comfort let<span class=\"_ _3\"/>ters and audit of grant st<span class=\"_ _5\"/>atements.  In line with the Dutc<span class=\"_ _3\"/>h independence legislation, no t<span class=\"_ _5\"/>ax advisor<span class=\"_ _5\"/>y<span class=\"_ _3\"/>, compliance ser<span class=\"_ _5\"/>vices or other non-audit ser<span class=\"_ _5\"/>vices were pro<span class=\"_ _7\"/>vided in the years presented.The total f<span class=\"_ _7\"/>ees c<span class=\"_ _3\"/>harged by Deloit<span class=\"_ _7\"/>te A<span class=\"_ _7\"/>ccountants B.V<span class=\"_ _8\"/>., the Netherlands to the company and its consolidated Group entities amounted to EUR 1<span class=\"_ _8\"/>.0 million in 2022 (2021: EUR 1<span class=\"_ _8\"/>.0 million). Of the 2022 f<span class=\"_ _7\"/>ees, an amount of EUR 0.1 million (2021: EUR 0.1 million) relates to non-recurring f<span class=\"_ _7\"/>ees for the 2021 audit.Section 8 Income t<span class=\"_ _5\"/>ax<span class=\"_ _7\"/>es  This section comprises all rele<span class=\"_ _7\"/>vant disclosures and specifications regarding tax recognized inthe Consolidated financial statements.  The f<span class=\"_ _7\"/>ollowing notes are presented in this section:  \u2022 <span class=\"_ _19f\"> </span><span class=\"fc1\">8.1 Income taxes  </span>\u2022 <span class=\"_ _19f\"> </span><span class=\"fc1\">8.2 Def<span class=\"_ _7\"/>erred taxes  </span>Note 8.1 Income tax<span class=\"_ _3\"/>es  A<span class=\"_ _1e\"> </span><span class=\"ff3 fs9\">Accounting policies  </span>T<span class=\"_ _9\"/>axes on profit or loss f<span class=\"_ _7\"/>or the financial year comprise current and def<span class=\"_ _3\"/>erred taxes. <span class=\"_ _9\"/>T<span class=\"_ _9\"/>axes are recognized in the statement of income unless they relate to items directly recogniz<span class=\"_ _7\"/>ed in Other comprehensive income or directly in equity<span class=\"_ _3\"/>.   Current taxes are the e<span class=\"_ _7\"/>xpected t<span class=\"_ _5\"/>axes pa<span class=\"_ _3\"/>yable on the taxable income for the year<span class=\"_ _9\"/>, using t<span class=\"_ _5\"/>ax rates substantially enacted at the end of the reporting period, plus any adjustments to prior<span class=\"_ _9\"/>-year tax pay<span class=\"_ _7\"/>able.   Def<span class=\"_ _7\"/>erred taxes are provided f<span class=\"_ _3\"/>or<span class=\"_ _3\"/>, using the liabilit<span class=\"_ _5\"/>y method, whereby pro<span class=\"_ _7\"/>visions are made for all taxable temporar<span class=\"_ _5\"/>y diff<span class=\"_ _3\"/>erences bet<span class=\"_ _5\"/>w<span class=\"_ _7\"/>een the carr<span class=\"_ _5\"/>ying amounts of assets and liabilities for financial reporting purposes and their tax base. No defer<span class=\"_ _7\"/>red t<span class=\"_ _5\"/>axes are pro<span class=\"_ _3\"/>vided for the follo<span class=\"_ _7\"/>wing temporar<span class=\"_ _5\"/>y dif<span class=\"_ _7\"/>f<span class=\"_ _7\"/>erences: goodwill not deductible for tax purposes; the initial recognition of assets and liabilities that neither af<span class=\"_ _7\"/>f<span class=\"_ _7\"/>ect accounting nor taxable profit; and dif<span class=\"_ _7\"/>f<span class=\"_ _7\"/>erences relating to inv<span class=\"_ _7\"/>estments in subsidiaries to the extent that the<span class=\"_ _7\"/>y will not rev<span class=\"_ _7\"/>erse in the foreseeable fut<span class=\"_ _7\"/>ure. <span class=\"_ _8\"/>The calculation is based on tax rates enacted or subst<span class=\"_ _5\"/>antively enacted, at the end of the reporting period.   Def<span class=\"_ _7\"/>erred tax assets, including assets arising from losses carried for<span class=\"_ _5\"/>ward, are recogniz<span class=\"_ _7\"/>ed to the extent that it is probable that fut<span class=\"_ _7\"/>ure taxable profits will be available against whic<span class=\"_ _3\"/>h these temporar<span class=\"_ _5\"/>y dif<span class=\"_ _7\"/>f<span class=\"_ _7\"/>erences or unused tax losses can be utilized. Def<span class=\"_ _7\"/>erred tax assets and liabilities are stated at nominal value.   The Group recogniz<span class=\"_ _7\"/>es liabilities for potential tax audit issues based on estimates of whether additional taxes will be due. <span class=\"_ _3\"/>Where the final tax outcome of these mat<span class=\"_ _7\"/>ters dif<span class=\"_ _7\"/>f<span class=\"_ _7\"/>ers from the amounts that were initially recorded, suc<span class=\"_ _3\"/>h dif<span class=\"_ _7\"/>f<span class=\"_ _7\"/>erences will impact the current and def<span class=\"_ _7\"/>erred income tax assets and liabilities in the period in whic<span class=\"_ _7\"/>h suc<span class=\"_ _7\"/>h determination is made.  A provision is f<span class=\"_ _7\"/>ormed for tax, principally regarding withholding tax, for whic<span class=\"_ _3\"/>h a liabilit<span class=\"_ _5\"/>y might arise in connection with the distribution of retained earnings if a decision has been made to distribute suc<span class=\"_ _3\"/>h earnings.  Income tax r<span class=\"_ _7\"/>ecognized in the Consolidat<span class=\"_ _7\"/>ed statement of income  In EUR millions  <span class=\"_ _e2\"> </span><span class=\"fs7 fc0 wsb\">2022  <span class=\"_ _51\"> </span><span class=\"fc7\">2021  </span></span> <span class=\"_ _3d\"> </span> <span class=\"_ _3d\"> </span> Cur<span class=\"_ _7\"/>rent tax<span class=\"_ _7\"/>es   <span class=\"_ _3d\"> </span> Current financial year  <span class=\"_ _127\"> </span><span class=\"ws8e\">67<span class=\"_ _8\"/>.7  <span class=\"_ _3f\"> </span>48.9  </span>Adjustments f<span class=\"_ _7\"/>or prior years  <span class=\"_ _2d1\"> </span><span class=\"ws8e\">- <span class=\"_ _c\"> </span>2.5  <span class=\"_ _96\"> </span>- <span class=\"_ _23\"> </span>7<span class=\"_ _1\"/>.3  </span> 65.2  <span class=\"_ _88\"> </span>41<span class=\"_ _7\"/>.6   <span class=\"_ _3d\"> </span> <span class=\"_ _3d\"> </span> Def<span class=\"_ _7\"/>err<span class=\"_ _3\"/>ed taxes   <span class=\"_ _3d\"> </span> Adjustments f<span class=\"_ _7\"/>or prior years  <span class=\"_ _ee\"> </span><span class=\"ws8e\">2.9  <span class=\"_ _5a\"> </span>2.8  </span>T<span class=\"_ _9\"/>emporar<span class=\"_ _5\"/>y dif<span class=\"_ _7\"/>ferences  <span class=\"_ _c6\"> </span><span class=\"ws8e\">26.7  <span class=\"_ _108\"> </span>42.4  </span>(De)recognition of tax losses and t<span class=\"_ _5\"/>ax credits  <span class=\"_ _1f6\"> </span><span class=\"ws8e\">8.9  <span class=\"_ _7c\"> </span>- <span class=\"_ _23\"> </span>26.5  </span>Changes in tax rates  <span class=\"_ _2c0\"> </span><span class=\"ws8e\">- <span class=\"_ _c\"> </span>2.5  <span class=\"_ _3f\"> </span>- <span class=\"_ _c\"> </span>0.3  </span> <span class=\"_ _2d2\"> </span><span class=\"fs7 fcb wsb\">36.0  <span class=\"_ _88\"> </span>1<span class=\"_ _7\"/>8.4  </span> <span class=\"_ _3d\"> </span> <span class=\"_ _3d\"> </span> T<span class=\"_ _8\"/>ax on profit  <span class=\"_ _12a\"> </span><span class=\"fc0 wsb\">1<span class=\"_ _7\"/>0<span class=\"_ _7\"/>1<span class=\"_ _7\"/>.2  <span class=\"_ _2f\"> </span><span class=\"fcb\">60.0  </span></span> <span class=\"_ _3d\"> </span> <span class=\"_ _3d\"> </span> Income tax paid  <span class=\"_ _110\"> </span><span class=\"ws8e\">55.9  <span class=\"_ _3f\"> </span>65.0  </span>Mov<span class=\"_ _7\"/>ements in current and def<span class=\"_ _7\"/>erred tax balances  <span class=\"_ _1aa\"> </span><span class=\"ws8e\">45.3  <span class=\"_ _108\"> </span>- <span class=\"_ _23\"> </span>5.0  </span>Income tax expense  <span class=\"_ _23c\"> </span><span class=\"fc0 wsb\">1<span class=\"_ _7\"/>0<span class=\"_ _7\"/>1<span class=\"_ _7\"/>.2  <span class=\"_ _2f\"> </span><span class=\"fcb\">60.0  </span></span>In 2022, EUR 0.4 million of ex<span class=\"_ _7\"/>ceptional tax gains were recognized in the income tax expenses (2021: EUR 1<span class=\"_ _1\"/>.0 million t<span class=\"_ _5\"/>ax gain). F<span class=\"_ _7\"/>or both years, these are related to the income tax eff<span class=\"_ _3\"/>ects on the ex<span class=\"_ _7\"/>ceptional items.    The main dif<span class=\"_ _3\"/>f<span class=\"_ _7\"/>erence bet<span class=\"_ _5\"/>ween the tax expenses f<span class=\"_ _3\"/>or the year and the current tax c<span class=\"_ _7\"/>harge was caused by def<span class=\"_ _3\"/>erred tax expenses mostly related to the derecognition of def<span class=\"_ _7\"/>erred tax assets in the Dutc<span class=\"_ _3\"/>h fiscal unit<span class=\"_ _5\"/>y and dif<span class=\"_ _7\"/>f<span class=\"_ _7\"/>erences in the depreciation rates of Property<span class=\"_ _3\"/>, plant and equipment as well as lease accounting. F<span class=\"_ _7\"/>or further details on the deferred tax position, ref<span class=\"_ _7\"/>erence is made to note 8.2.   T<span class=\"_ _1\"/>ax expenses per share  The tax expense per share amounted to EUR 0.80 in 2022 (2021: EUR 0.48).  More information on <span class=\"_ _9\"/>V<span class=\"_ _3\"/>opak\u2019<span class=\"_ _9\"/>s responsibilit<span class=\"_ _5\"/>y tow<span class=\"_ _7\"/>ards taxation can be found in the Sustainabilit<span class=\"_ _5\"/>y c<span class=\"_ _3\"/>hapter<span class=\"_ _3\"/>.  Reconciliation of ef<span class=\"_ _7\"/>f<span class=\"_ _7\"/>ective tax r<span class=\"_ _7\"/>ate   In EUR millions  <span class=\"_ _2d3\"> </span>2022  <span class=\"_ _19d\"> </span>2021  Profit bef<span class=\"_ _7\"/>ore income tax  <span class=\"_ _16a\"> </span><span class=\"fs11 fc3\"> <span class=\"_ _46\"> </span></span><span class=\"ws8e\">- <span class=\"_ _23\"> </span>36.6  <span class=\"_ _3d\"> </span></span><span class=\"fs11 fc3\"> <span class=\"_ _46\"> </span></span><span class=\"ws8e\">303.2  </span>T<span class=\"_ _9\"/>ax on profit   <span class=\"_ _45\"> </span><span class=\"fs31 fc1 ls8b wsf9\">101<span class=\"_ _7\"/>.<span class=\"_ _5\"/>2<span class=\"_ _4\"/>  <span class=\"_ _3d\"> </span><span class=\"fs11 fc3 ls6 ws3\"> <span class=\"_ _3f\"> </span></span><span class=\"ls6 ws8e\">60.0  </span></span>Eff<span class=\"_ _3\"/>ective tax rat<span class=\"_ _7\"/>e  <span class=\"_ _1cf\"> </span><span class=\"fs11 fc3\"> <span class=\"_ _115\"> </span></span><span class=\"fc0 wsb\">-276.8%  <span class=\"_ _3d\"> </span></span><span class=\"fs11 fc3\"> <span class=\"_ _190\"> </span></span><span class=\"wsb\">19.8%  </span> <span class=\"_ _3d\"> </span> <span class=\"_ _3d\"> </span> <span class=\"_ _3d\"> </span> <span class=\"_ _3d\"> </span> Composition:  <span class=\"_ _196\"> </span><span class=\"ws8e\">Amount  <span class=\"_ _184\"> </span>%  <span class=\"_ _e1\"> </span>Amount  <span class=\"_ _184\"> </span>%  </span>W<span class=\"_ _7\"/>eighted average statutory tax rate  <span class=\"_ _b9\"> </span><span class=\"ws8e\">- <span class=\"_ _0\"> </span>1<span class=\"_ _7\"/>7<span class=\"_ _1\"/>.1  <span class=\"_ _3f\"> </span>46.8  <span class=\"_ _3f\"> </span>68.7  <span class=\"_ _3f\"> </span>22.7  </span>Participation e<span class=\"_ _7\"/>xemption  <span class=\"_ _cf\"> </span><span class=\"ws8e\">- <span class=\"_ _23\"> </span>43.8  <span class=\"_ _b1\"> </span>1<span class=\"_ _9\"/>1<span class=\"_ _7\"/>9.8  <span class=\"_ _46\"> </span>- <span class=\"_ _c\"> </span>40.0  <span class=\"_ _49\"> </span>- <span class=\"_ _23\"> </span>1<span class=\"_ _7\"/>3.2  </span>Non-deductible expenses  <span class=\"_ _162\"> </span><span class=\"ws8e\">1<span class=\"_ _3\"/>7<span class=\"_ _1\"/>.9  <span class=\"_ _46\"> </span>- <span class=\"_ _23\"> </span>49.0  <span class=\"_ _5a\"> </span>9.8  <span class=\"_ _5a\"> </span>3.2  </span>Changes in tax rates  <span class=\"_ _135\"> </span><span class=\"ws8e\">- <span class=\"_ _c\"> </span>2.6  <span class=\"_ _52\"> </span>7<span class=\"_ _1\"/>.1  <span class=\"_ _3f\"> </span>- <span class=\"_ _23\"> </span>0.3  <span class=\"_ _3f\"> </span>- <span class=\"_ _c\"> </span>0.1  </span>(De)recognition of tax losses and tax credits  <span class=\"_ _186\"> </span><span class=\"ws8e\">1<span class=\"_ _3\"/>50.6  <span class=\"_ _190\"> </span>- <span class=\"_ _23\"> </span>41<span class=\"_ _7\"/>2.0  <span class=\"_ _3f\"> </span>20.0  <span class=\"_ _5a\"> </span>6.6  </span>T<span class=\"_ _9\"/>ax facilities  <span class=\"_ _ae\"> </span><span class=\"ws8e\">- <span class=\"_ _c\"> </span>1<span class=\"_ _9\"/>.6  <span class=\"_ _1c3\"> </span>4.4  <span class=\"_ _cb\"> </span>- <span class=\"_ _c\"> </span>1<span class=\"_ _9\"/>.0  <span class=\"_ _3f\"> </span>- <span class=\"_ _c\"> </span>0.3  </span>Mov<span class=\"_ _7\"/>ements in prior<span class=\"_ _3\"/>-year taxes <span class=\"_ _8\"/> <span class=\"_ _5a\"> </span><span class=\"ws8e\">0.4  <span class=\"_ _41\"> </span>- <span class=\"_ _23\"> </span>1<span class=\"_ _9\"/>.1  <span class=\"_ _3f\"> </span>- <span class=\"_ _c\"> </span>4.5  <span class=\"_ _41\"> </span>- <span class=\"_ _23\"> </span>1<span class=\"_ _9\"/>.5  </span>Other ef<span class=\"_ _7\"/>fects  <span class=\"_ _104\"> </span><span class=\"ws8e\">- <span class=\"_ _0\"> </span>2.6  <span class=\"_ _52\"> </span>7<span class=\"_ _8\"/>.2  <span class=\"_ _52\"> </span>7<span class=\"_ _1\"/>.3  <span class=\"_ _5a\"> </span>2.4  </span>Eff<span class=\"_ _3\"/>ective tax (rat<span class=\"_ _7\"/>e)  <span class=\"_ _b5\"> </span>1<span class=\"_ _7\"/>0<span class=\"_ _3\"/>1.2  <span class=\"_ _31\"> </span>- <span class=\"_ _23\"> </span>276.8  <span class=\"_ _2f\"> </span><span class=\"fcb\">60.0  <span class=\"_ _88\"> </span>19.8  </span> Income tax expenses -including ex<span class=\"_ _7\"/>ceptional items- amounted to EUR 1<span class=\"_ _3\"/>0<span class=\"_ _3\"/>1<span class=\"_ _8\"/>.2 million in 2022, an increase of EUR 41<span class=\"_ _8\"/>.2 million compared to EUR 60.0 million in 2021<span class=\"_ _8\"/>. <span class=\"_ _9\"/>The ef<span class=\"_ _3\"/>f<span class=\"_ _7\"/>ective tax rate -including ex<span class=\"_ _7\"/>ceptional items- was -27<span class=\"_ _9\"/>6.8% compared to 1<span class=\"_ _7\"/>9.8% in 2021<span class=\"_ _8\"/>. <span class=\"_ _9\"/>This resulted from the fact that a tax income of only EUR 0.4 million was recorded in respect of e<span class=\"_ _7\"/>xceptional losses totaling to EUR 463.2 million. <span class=\"_ _9\"/>The impairments in B<span class=\"_ _7\"/>otlek and Europoort did not lead to recognition of def<span class=\"_ _7\"/>erred tax assets as insuf<span class=\"_ _7\"/>ficient t<span class=\"_ _5\"/>axable profits are expected to be a<span class=\"_ _3\"/>vailable. F<span class=\"_ _7\"/>or the other ex<span class=\"_ _7\"/>ceptional items, ex<span class=\"_ _7\"/>cept the business dev<span class=\"_ _7\"/>elopment costs impairment in Belgium, the participation e<span class=\"_ _7\"/>xemption pre<span class=\"_ _7\"/>vented tax c<span class=\"_ _7\"/>harges from being recognized.   Income tax expenses -ex<span class=\"_ _7\"/>cluding ex<span class=\"_ _7\"/>ceptional items- amounted to EUR 1<span class=\"_ _3\"/>0<span class=\"_ _3\"/>1<span class=\"_ _8\"/>.6 million in 2022, an increase of EUR 40.6 million compared to EUR 61<span class=\"_ _8\"/>.0 million in 2021<span class=\"_ _8\"/>. <span class=\"_ _9\"/>The ef<span class=\"_ _3\"/>f<span class=\"_ _7\"/>ective tax rate -ex<span class=\"_ _7\"/>cluding ex<span class=\"_ _7\"/>ceptional items- was 23.8% compared to 1<span class=\"_ _3\"/>5.7% in 2021<span class=\"_ _8\"/>. <span class=\"_ _9\"/>This increase is largely driven b<span class=\"_ _7\"/>y the derecognition of def<span class=\"_ _7\"/>erred tax assets in the Dutc<span class=\"_ _7\"/>h fiscal unit<span class=\"_ _5\"/>y as a result of updated long-term outlooks on future taxable profits.   The non-deductible e<span class=\"_ _7\"/>xpenses categor<span class=\"_ _5\"/>y whic<span class=\"_ _3\"/>h is included as part of the eff<span class=\"_ _3\"/>ective tax reconciliation includes business expenses whic<span class=\"_ _3\"/>h are not tax deductible under local (t<span class=\"_ _5\"/>ax) law<span class=\"_ _9\"/>. The mo<span class=\"_ _7\"/>vements in prior<span class=\"_ _9\"/>-y<span class=\"_ _7\"/>ear t<span class=\"_ _5\"/>ax<span class=\"_ _7\"/>es includes several tax positions whic<span class=\"_ _3\"/>h have been confirmed by the local tax authorities resulting in a true-up of tax provisions.  As the Group e<span class=\"_ _7\"/>xtensively operates via in<span class=\"_ _7\"/>vestments in joint v<span class=\"_ _7\"/>entures and associates, whic<span class=\"_ _3\"/>h fall under the Dutc<span class=\"_ _3\"/>h participation ex<span class=\"_ _7\"/>emption, and of whic<span class=\"_ _7\"/>h the profits hav<span class=\"_ _7\"/>e been taxed in the countr<span class=\"_ _5\"/>y of establishment while the net profits of these entities are part of the EBIT(D<span class=\"_ _3\"/>A) of the Group, the ef<span class=\"_ _7\"/>f<span class=\"_ _7\"/>ective tax rate of the <span class=\"_ _3\"/>V<span class=\"_ _3\"/>opak Group for this ef<span class=\"_ _3\"/>f<span class=\"_ _7\"/>ective tax reconciliation item is generally low<span class=\"_ _7\"/>er than the weighted a<span class=\"_ _7\"/>verage tax rate of that of its subsidiaries.  F<span class=\"_ _7\"/>or an ov<span class=\"_ _7\"/>er<span class=\"_ _5\"/>view of the ef<span class=\"_ _3\"/>fects of the joint v<span class=\"_ _7\"/>entures and associates on the ef<span class=\"_ _3\"/>f<span class=\"_ _7\"/>ective tax rate of the Group, as well as the proportionate ef<span class=\"_ _3\"/>f<span class=\"_ _7\"/>ective tax rate, ref<span class=\"_ _7\"/>erence is made to note 23 of the Sustainabilit<span class=\"_ _5\"/>y Section.  Income tax r<span class=\"_ _7\"/>ecognized in other compr<span class=\"_ _3\"/>ehensive income  In EUR millions  <span class=\"_ _214\"> </span>Note  <span class=\"_ _22b\"> </span>2022  <span class=\"_ _c2\"> </span>202On c<span class=\"_ _7\"/>hanges in the value of cash flo<span class=\"_ _7\"/>w hedges  <span class=\"_ _19e\"> </span><span class=\"ff3 fc13 ws8e\">5.2  <span class=\"_ _18e\"> </span></span><span class=\"ws8e\">18.2  <span class=\"_ _1b1\"> </span>- <span class=\"_ _c\"> </span>0.3  </span>On ex<span class=\"_ _7\"/>c<span class=\"_ _7\"/>hange diff<span class=\"_ _3\"/>erences and hedges  <span class=\"_ _1d6\"> </span><span class=\"ff3 fc13 ws8e\">5.2  <span class=\"_ _18a\"> </span></span><span class=\"ws8e\">\u2013  <span class=\"_ _d4\"> </span>2.4  </span>On use of cash flow hedges  <span class=\"_ _a4\"> </span><span class=\"ff3 fc13 ws8e\">5.2  <span class=\"_ _18a\"> </span></span><span class=\"ws8e\">\u2013  <span class=\"_ _c9\"> </span>- <span class=\"_ _23\"> </span>0.1  </span>On remeasurements of defined benefit plans   <span class=\"_ _15a\"> </span><span class=\"ff1 fs31 fc1 ws8e\">6.5  <span class=\"_ _d0\"> </span>4.2  </span>T<span class=\"_ _8\"/>otal  <span class=\"_ _29f\"> </span><span class=\"fs11 fc3\"> <span class=\"_ _ea\"> </span></span><span class=\"fc0 wsb\">24.7  <span class=\"_ _93\"> </span><span class=\"fcb\">6.2  </span></span>Note 8.2 Def<span class=\"_ _3\"/>er<span class=\"_ _3\"/>red tax<span class=\"_ _7\"/>es   A<span class=\"_ _1e\"> </span><span class=\"ff3 fs9\">Accounting policies  </span>Def<span class=\"_ _7\"/>erred tax assets and liabilities are of<span class=\"_ _7\"/>fset against eac<span class=\"_ _7\"/>h other to the extent that this is a legally enforceable right and the def<span class=\"_ _3\"/>errals belong to the same fiscal unit. <span class=\"_ _9\"/>T<span class=\"_ _7\"/>he decision to account for def<span class=\"_ _3\"/>erred tax assets is t<span class=\"_ _5\"/>aken periodically f<span class=\"_ _7\"/>or eac<span class=\"_ _7\"/>h fiscal unit af<span class=\"_ _3\"/>ter critically assessing whether conditions are suf<span class=\"_ _7\"/>ficient to realize these def<span class=\"_ _3\"/>erred tax assets, based on the strategic plans and related tax plans.   BKe<span class=\"_ _7\"/>y accounting estimates and judgments Def<span class=\"_ _7\"/>erred tax assets, including those arising from carr<span class=\"_ _5\"/>y-f<span class=\"_ _7\"/>or<span class=\"_ _5\"/>ward losses, are recognized if it is probable that taxable profit is available against whic<span class=\"_ _3\"/>h losses can be of<span class=\"_ _7\"/>fset. In determining this, V<span class=\"_ _3\"/>opak uses estimates and assumptions that also af<span class=\"_ _7\"/>fect the measurement of the def<span class=\"_ _3\"/>erred tax assets. A mat<span class=\"_ _7\"/>urity schedule of the unrecogniz<span class=\"_ _7\"/>ed carry-for<span class=\"_ _5\"/>ward losses is sho<span class=\"_ _7\"/>wn on the next page.  Def<span class=\"_ _3\"/>err<span class=\"_ _3\"/>ed tax assets and liabilities   <span class=\"_ _d4\"> </span> <span class=\"_ _2d4\"> </span>T<span class=\"_ _8\"/>emporary diff<span class=\"_ _3\"/>erences  <span class=\"_ _40\"> </span><span class=\"fs11 fc3\"> <span class=\"_ _3d\"> </span> </span> Proper<span class=\"_ _7\"/>ty<span class=\"_ _3\"/>, plant Statement of Car<span class=\"_ _7\"/>ry forwar<span class=\"_ _7\"/>d and equip-Employ<span class=\"_ _7\"/>ee Offset assets financial 1  In EUR millions  losses  mentLoans <span class=\"_ _23\"> </span>grant<span class=\"_ _7\"/>ed  benefits  <span class=\"_ _117\"> </span>Lease <span class=\"_ _c\"> </span>liabilities  <span class=\"_ _131\"> </span>Other  and <span class=\"_ _23\"> </span>liabilities  position  Assets  <span class=\"_ _259\"> </span><span class=\"ws8e\">24.1  <span class=\"_ _5a\"> </span>2.1  <span class=\"_ _5a\"> </span>0.4  <span class=\"_ _3c\"> </span>12.6  <span class=\"_ _46\"> </span>1<span class=\"_ _7\"/>62.5  <span class=\"_ _3f\"> </span>32.7  <span class=\"_ _4f\"> </span>- <span class=\"_ _23\"> </span>1<span class=\"_ _7\"/>91<span class=\"_ _9\"/>.2  <span class=\"_ _108\"> </span>43.2  </span>Liabilities  <span class=\"_ _2d5\"> </span><span class=\"ws8e\">\u2013  <span class=\"_ _c7\"> </span>- <span class=\"_ _c\"> </span>272.1  <span class=\"_ _3f\"> </span>- <span class=\"_ _c\"> </span>0.2  <span class=\"_ _3f\"> </span>- <span class=\"_ _23\"> </span>0.1  <span class=\"_ _86\"> </span>\u2013  <span class=\"_ _190\"> </span>- <span class=\"_ _23\"> </span>1<span class=\"_ _3\"/>02.1  <span class=\"_ _83\"> </span>1<span class=\"_ _7\"/>91<span class=\"_ _9\"/>.2  <span class=\"_ _c7\"> </span>- <span class=\"_ _23\"> </span>1<span class=\"_ _7\"/>83.3  </span>Balance 31 December 2020  <span class=\"_ _25c\"> </span>24.1  <span class=\"_ _55\"> </span>- <span class=\"_ _23\"> </span>270.0  <span class=\"_ _8b\"> </span>0.2  <span class=\"_ _88\"> </span>12.5  <span class=\"_ _7e\"> </span>162.5  <span class=\"_ _7e\"> </span>- <span class=\"_ _23\"> </span>69.4  <span class=\"_ _86\"> </span>\u2013  <span class=\"_ _31\"> </span><span class=\"fc0\">- <span class=\"_ _23\"> </span>140.1  </span>Mov<span class=\"_ _7\"/>ements:   <span class=\"_ _3d\"> </span> <span class=\"_ _3d\"> </span> <span class=\"_ _3d\"> </span> <span class=\"_ _3d\"> </span> <span class=\"_ _3d\"> </span> <span class=\"_ _3d\"> </span> <span class=\"_ _3d\"> </span> - Statement of income  <span class=\"_ _1fd\"> </span><span class=\"ws8e\">30.8  <span class=\"_ _46\"> </span>- <span class=\"_ _23\"> </span>50.0  <span class=\"_ _5a\"> </span>0.5  <span class=\"_ _5a\"> </span>0.3  <span class=\"_ _5a\"> </span>2.8  <span class=\"_ _3f\"> </span>- <span class=\"_ _c\"> </span>2.8  </span> <span class=\"_ _46\"> </span><span class=\"fs31 fc1 ws8e\">- <span class=\"_ _23\"> </span>18.4  </span>- Other comprehensive income  <span class=\"_ _2d1\"> </span><span class=\"ws8e\">\u2013  <span class=\"_ _86\"> </span>\u2013  <span class=\"_ _41\"> </span>- <span class=\"_ _c\"> </span>1<span class=\"_ _9\"/>.1  <span class=\"_ _3f\"> </span>- <span class=\"_ _c\"> </span>4.2  <span class=\"_ _86\"> </span>\u2013  <span class=\"_ _5a\"> </span>0.4  </span> <span class=\"_ _3f\"> </span><span class=\"fs31 fc1 ws8e\">- <span class=\"_ _c\"> </span>4.9  </span>- Acquisitions/div<span class=\"_ _7\"/>estments <span class=\"_ _5\"/> <span class=\"_ _c6\"> </span><span class=\"ws8e\">\u2013  <span class=\"_ _3f\"> </span>12.0  <span class=\"_ _86\"> </span>\u2013  <span class=\"_ _86\"> </span>\u2013  <span class=\"_ _86\"> </span>\u2013  <span class=\"_ _108\"> </span>- <span class=\"_ _23\"> </span>4.5  </span> <span class=\"_ _52\"> </span><span class=\"fs31 fc1 ws8e\">7<span class=\"_ _1\"/>.5  </span>- Exc<span class=\"_ _3\"/>hange diff<span class=\"_ _3\"/>erences  <span class=\"_ _214\"> </span><span class=\"ws8e\">0.4  <span class=\"_ _49\"> </span>- <span class=\"_ _c\"> </span>1<span class=\"_ _7\"/>0.9  <span class=\"_ _5a\"> </span>0.2  <span class=\"_ _5a\"> </span>0.7  <span class=\"_ _5a\"> </span>3.6  <span class=\"_ _3f\"> </span>- <span class=\"_ _c\"> </span>4.9  </span> <span class=\"_ _49\"> </span><span class=\"fs31 fc1 ws8e\">- <span class=\"_ _23\"> </span>1<span class=\"_ _3\"/>0.9  </span>Balance 31 December 2021  <span class=\"_ _25c\"> </span>55.3  <span class=\"_ _55\"> </span>- <span class=\"_ _23\"> </span>318.9  <span class=\"_ _66\"> </span>- <span class=\"_ _23\"> </span>0.2  <span class=\"_ _8b\"> </span>9.3  <span class=\"_ _7f\"> </span>168.9  <span class=\"_ _1b2\"> </span>- <span class=\"_ _23\"> </span>81<span class=\"_ _7\"/>.2  <span class=\"_ _3d\"> </span><span class=\"fs11 fc3 ws3\"> <span class=\"_ _31\"> </span></span><span class=\"fc0\">- <span class=\"_ _23\"> </span>166.8  </span> <span class=\"_ _3d\"> </span> <span class=\"_ _3d\"> </span> <span class=\"_ _3d\"> </span> <span class=\"_ _3d\"> </span> <span class=\"_ _3d\"> </span> <span class=\"_ _3d\"> </span> <span class=\"_ _3d\"> </span> <span class=\"_ _3d\"> </span> Assets  <span class=\"_ _259\"> </span><span class=\"ws8e\">55.3  <span class=\"_ _5a\"> </span>0.1  <span class=\"_ _5a\"> </span>0.8  <span class=\"_ _5a\"> </span>9.7  <span class=\"_ _49\"> </span>1<span class=\"_ _7\"/>68.9  <span class=\"_ _3f\"> </span>30.5  <span class=\"_ _190\"> </span>- <span class=\"_ _c\"> </span>214.7  <span class=\"_ _108\"> </span>50.6  </span>Liabilities  <span class=\"_ _2d5\"> </span><span class=\"ws8e\">\u2013  <span class=\"_ _190\"> </span>- <span class=\"_ _c\"> </span>31<span class=\"_ _7\"/>9.0  <span class=\"_ _cb\"> </span>- <span class=\"_ _c\"> </span>1<span class=\"_ _9\"/>.0  <span class=\"_ _3f\"> </span>- <span class=\"_ _c\"> </span>0.4  <span class=\"_ _86\"> </span>\u2013  <span class=\"_ _1b2\"> </span>- <span class=\"_ _c\"> </span>1<span class=\"_ _3\"/>1<span class=\"_ _9\"/>1<span class=\"_ _9\"/>.7  <span class=\"_ _49\"> </span>21<span class=\"_ _3\"/>4.7  <span class=\"_ _18a\"> </span>- <span class=\"_ _c\"> </span>21<span class=\"_ _7\"/>7<span class=\"_ _1\"/>.4  </span>Balance 31 December 2021  <span class=\"_ _25c\"> </span>55.3  <span class=\"_ _55\"> </span>- <span class=\"_ _23\"> </span>318.9  <span class=\"_ _66\"> </span>- <span class=\"_ _23\"> </span>0.2  <span class=\"_ _8b\"> </span>9.3  <span class=\"_ _7f\"> </span>168.9  <span class=\"_ _1b2\"> </span>- <span class=\"_ _23\"> </span>81<span class=\"_ _7\"/>.2  <span class=\"_ _6f\"> </span>\u2013  <span class=\"_ _55\"> </span><span class=\"fc0\">- <span class=\"_ _23\"> </span>166.8  </span>Mov<span class=\"_ _7\"/>ements:  <span class=\"_ _df\"> </span><span class=\"fs11 fc3\"> <span class=\"_ _3d\"> </span> <span class=\"_ _3d\"> </span> <span class=\"_ _3d\"> </span> <span class=\"_ _3d\"> </span> <span class=\"_ _3d\"> </span> <span class=\"_ _3d\"> </span> <span class=\"_ _3d\"> </span> </span>- Statement of income  <span class=\"_ _21e\"> </span><span class=\"ws8e\">- <span class=\"_ _23\"> </span>1<span class=\"_ _3\"/>0.2  <span class=\"_ _3f\"> </span>60.7  <span class=\"_ _5a\"> </span>0.5  <span class=\"_ _5a\"> </span>0.1  <span class=\"_ _46\"> </span>- <span class=\"_ _c\"> </span>79.6  <span class=\"_ _96\"> </span>- <span class=\"_ _23\"> </span>7<span class=\"_ _1\"/>.5  <span class=\"_ _3d\"> </span><span class=\"fs11 fc3 ws3\"> <span class=\"_ _46\"> </span></span>- <span class=\"_ _c\"> </span>36.0  </span>- Other comprehensive income  <span class=\"_ _2d1\"> </span><span class=\"ws8e\">\u2013  <span class=\"_ _86\"> </span>\u2013  <span class=\"_ _86\"> </span>\u2013  <span class=\"_ _3f\"> </span>- <span class=\"_ _c\"> </span>6.7  <span class=\"_ _86\"> </span>\u2013  <span class=\"_ _49\"> </span>- <span class=\"_ _c\"> </span>18.2  </span> <span class=\"_ _46\"> </span><span class=\"fs31 fc1 ws8e\">- <span class=\"_ _c\"> </span>24.9  </span>- Retained earnings other  <span class=\"_ _213\"> </span><span class=\"ws8e\">\u2013  <span class=\"_ _86\"> </span>\u2013  <span class=\"_ _10d\"> </span>1<span class=\"_ _9\"/>.1  <span class=\"_ _86\"> </span>\u2013  <span class=\"_ _86\"> </span>\u2013  <span class=\"_ _96\"> </span>- <span class=\"_ _c\"> </span>7<span class=\"_ _8\"/>.0  </span> <span class=\"_ _3f\"> </span><span class=\"fs31 fc1 ws8e\">- <span class=\"_ _c\"> </span>5.9  </span>- Acquisitions/div<span class=\"_ _7\"/>estments <span class=\"_ _5\"/> <span class=\"_ _c6\"> </span><span class=\"ws8e\">\u2013  <span class=\"_ _41\"> </span>- <span class=\"_ _c\"> </span>1<span class=\"_ _9\"/>.8  <span class=\"_ _86\"> </span>\u2013  <span class=\"_ _86\"> </span>\u2013  <span class=\"_ _86\"> </span>\u2013  <span class=\"_ _86\"> </span>\u2013  </span> <span class=\"_ _41\"> </span><span class=\"fs31 fc1 ws8e\">- <span class=\"_ _23\"> </span>1<span class=\"_ _9\"/>.8  </span>- Exc<span class=\"_ _3\"/>hange diff<span class=\"_ _3\"/>erences  <span class=\"_ _214\"> </span><span class=\"ws8e\">4.0  <span class=\"_ _83\"> </span>- <span class=\"_ _23\"> </span>1<span class=\"_ _9\"/>1<span class=\"_ _9\"/>.5  <span class=\"_ _86\"> </span>\u2013  <span class=\"_ _5a\"> </span>0.4  <span class=\"_ _5a\"> </span>2.6  <span class=\"_ _3f\"> </span>- <span class=\"_ _c\"> </span>2.9  </span> <span class=\"_ _96\"> </span><span class=\"fs31 fc1 ws8e\">- <span class=\"_ _c\"> </span>7<span class=\"_ _1\"/>.4  </span>Balance 31 December 2022  <span class=\"_ _25c\"> </span>49.1  <span class=\"_ _8d\"> </span>- <span class=\"_ _23\"> </span>271<span class=\"_ _7\"/>.5  <span class=\"_ _1c3\"> </span>1<span class=\"_ _7\"/>.4  <span class=\"_ _8b\"> </span>3.1  <span class=\"_ _108\"> </span>91<span class=\"_ _3\"/>.9  <span class=\"_ _69\"> </span>- <span class=\"_ _23\"> </span>1<span class=\"_ _9\"/>16.8  <span class=\"_ _3d\"> </span><span class=\"fs11 fc3 ws3\"> <span class=\"_ _55\"> </span></span><span class=\"fc0\">- <span class=\"_ _23\"> </span>242.8  </span> <span class=\"_ _3d\"> </span> <span class=\"_ _3d\"> </span> <span class=\"_ _3d\"> </span> <span class=\"_ _3d\"> </span> <span class=\"_ _3d\"> </span> <span class=\"_ _3d\"> </span> <span class=\"_ _3d\"> </span> <span class=\"_ _3d\"> </span> Assets  <span class=\"_ _259\"> </span><span class=\"ws8e\">49.1  <span class=\"_ _10d\"> </span>1<span class=\"_ _9\"/>.4  <span class=\"_ _10d\"> </span>1<span class=\"_ _9\"/>.4  <span class=\"_ _5a\"> </span>3.9  <span class=\"_ _41\"> </span>91<span class=\"_ _9\"/>.9  <span class=\"_ _46\"> </span>- <span class=\"_ _c\"> </span>78.2  <span class=\"_ _46\"> </span>- <span class=\"_ _23\"> </span>60.8  <span class=\"_ _5a\"> </span>8.7  </span>Liabilities  <span class=\"_ _2d5\"> </span><span class=\"ws8e\">\u2013  <span class=\"_ _c7\"> </span>- <span class=\"_ _c\"> </span>272.9  <span class=\"_ _86\"> </span>\u2013  <span class=\"_ _3f\"> </span>- <span class=\"_ _c\"> </span>0.8  <span class=\"_ _187\"> </span>\u2013  <span class=\"_ _7c\"> </span>- <span class=\"_ _23\"> </span>38.6  <span class=\"_ _3f\"> </span>60.8  <span class=\"_ _53\"> </span>- <span class=\"_ _23\"> </span>251<span class=\"_ _9\"/>.5  </span>Balance 31 December 2022  <span class=\"_ _25c\"> </span>49.1  <span class=\"_ _8d\"> </span>- <span class=\"_ _23\"> </span>271<span class=\"_ _7\"/>.5  <span class=\"_ _1c3\"> </span>1<span class=\"_ _7\"/>.4  <span class=\"_ _8b\"> </span>3.1  <span class=\"_ _108\"> </span>91<span class=\"_ _3\"/>.9  <span class=\"_ _69\"> </span>- <span class=\"_ _23\"> </span>1<span class=\"_ _9\"/>16.8  <span class=\"_ _86\"> </span>\u2013  <span class=\"_ _31\"> </span><span class=\"fc0\">- <span class=\"_ _23\"> </span>242.8  </span>1 <span class=\"_ _b3\"> </span>Owned and right-of-use assets  In determining the def<span class=\"_ _7\"/>erred tax liabilities for taxable temporar<span class=\"_ _5\"/>y dif<span class=\"_ _7\"/>ferences associated with inv<span class=\"_ _7\"/>estments in associates and joint vent<span class=\"_ _7\"/>ures, withholding tax due on undistributed reser<span class=\"_ _5\"/>ves hav<span class=\"_ _7\"/>e<span class=\"_ _5\"/> been recognized to the e<span class=\"_ _7\"/>xtent that it is probable that these dif<span class=\"_ _7\"/>f<span class=\"_ _7\"/>erences will rev<span class=\"_ _7\"/>erse in the<span class=\"_ _5\"/> foreseeable fut<span class=\"_ _7\"/>ure. F<span class=\"_ _7\"/>or these temporar<span class=\"_ _5\"/>y dif<span class=\"_ _7\"/>f<span class=\"_ _7\"/>erences, def<span class=\"_ _7\"/>erred tax liabilities amounting<span class=\"_ _5\"/> to EUR 8.4 million hav<span class=\"_ _7\"/>e been recognized at 31 December 2022 (2021: EUR 6.8 million). In determining the def<span class=\"_ _7\"/>erred tax liabilities, withholding t<span class=\"_ _5\"/>ax and any other tax due for unremit<span class=\"_ _3\"/>ted earnings of subsidiaries were not recogniz<span class=\"_ _7\"/>ed. <span class=\"_ _9\"/>T<span class=\"_ _7\"/>hese earnings are deemed to hav<span class=\"_ _7\"/>e been<span class=\"_ _5\"/> p<span class=\"_ _7\"/>er<span class=\"_ _3\"/>ma<span class=\"_ _7\"/>ne<span class=\"_ _3\"/>nt<span class=\"_ _7\"/>ly<span class=\"_ _3\"/> r<span class=\"_ _7\"/>ei<span class=\"_ _3\"/>n<span class=\"_ _7\"/>v<span class=\"_ _7\"/>es<span class=\"_ _3\"/>te<span class=\"_ _7\"/>d.<span class=\"_ _3\"/> F<span class=\"_ _3\"/>or the Dutc<span class=\"_ _7\"/>h fiscal unit<span class=\"_ _5\"/>y<span class=\"_ _9\"/>, due to changed long-term outlooks on the taxable profits, existing def<span class=\"_ _7\"/>erred asset positions could no longer be recognized. <span class=\"_ _8\"/>This resulted in an additional tax c<span class=\"_ _7\"/>harge of EUR 1<span class=\"_ _7\"/>6.7 million and a reduction of Retained earnings of EUR 5.9 million and Other comprehensive income of EUR 1<span class=\"_ _3\"/>8.2 million (fair value of cash flow hedges).   Def<span class=\"_ _7\"/>er<span class=\"_ _7\"/>r<span class=\"_ _7\"/>ed tax assets not recogniz<span class=\"_ _3\"/>ed in the Consolidated statement of financial position  Carr<span class=\"_ _5\"/>y<span class=\"_ _7\"/>-for<span class=\"_ _5\"/>ward losses f<span class=\"_ _7\"/>or whic<span class=\"_ _7\"/>h def<span class=\"_ _7\"/>erred tax assets have not been recogniz<span class=\"_ _7\"/>ed amounted to EUR 479.6 million at 31 December 2022 (2021: EUR 0.5 million). <span class=\"_ _9\"/>T<span class=\"_ _7\"/>he maturity sc<span class=\"_ _3\"/>hedule is as follo<span class=\"_ _7\"/>ws:     In EUR millions  <span class=\"_ _51\"> </span><span class=\"fs7 fc7 wsb\">2023  <span class=\"_ _39\"> </span>2024  <span class=\"_ _3a\"> </span>2025  <span class=\"_ _39\"> </span>2026  <span class=\"_ _b2\"> </span>2027+  <span class=\"_ _117\"> </span>unlimited  <span class=\"_ _156\"> </span><span class=\"fc0\">T<span class=\"_ _9\"/>otal  </span></span>Of<span class=\"_ _7\"/>fset<span class=\"_ _7\"/>table t<span class=\"_ _5\"/>ax losses carry-for<span class=\"_ _5\"/>ward <span class=\"_ _15a\"> </span><span class=\"ws8e\">\u2013  <span class=\"_ _f9\"> </span>\u2013  <span class=\"_ _d9\"> </span>0.1  <span class=\"_ _18e\"> </span>1<span class=\"_ _9\"/>.7  <span class=\"_ _bc\"> </span>1<span class=\"_ _9\"/>.4  <span class=\"_ _aa\"> </span>47<span class=\"_ _7\"/>6.4  <span class=\"_ _38\"> </span>479.6  </span> Def<span class=\"_ _7\"/>erred tax assets regarding these carr<span class=\"_ _5\"/>y-f<span class=\"_ _7\"/>or<span class=\"_ _5\"/>ward losses hav<span class=\"_ _7\"/>e not been recognized because it is not probable that suf<span class=\"_ _7\"/>ficient taxable profit will be available to utiliz<span class=\"_ _7\"/>e the def<span class=\"_ _7\"/>erred tax asset in time. <span class=\"_ _9\"/>T<span class=\"_ _7\"/>he Group did not recognize def<span class=\"_ _3\"/>erred income t<span class=\"_ _5\"/>ax assets in respect of deductible temporar<span class=\"_ _5\"/>y dif<span class=\"_ _7\"/>f<span class=\"_ _7\"/>erences of EUR 1<span class=\"_ _3\"/>39.1 million (2021: nil) that can be carried for<span class=\"_ _5\"/>ward against future taxable income, as it is not considered probable that fut<span class=\"_ _7\"/>ure t<span class=\"_ _5\"/>axable profits and/or taxable temporar<span class=\"_ _5\"/>y diff<span class=\"_ _3\"/>erences will be av<span class=\"_ _7\"/>ailable.   Section 9 Other disclosures  This section pro<span class=\"_ _7\"/>vides details on items that are not included in other sections, but which are of statutor<span class=\"_ _5\"/>y or secondar<span class=\"_ _5\"/>y importance for understanding the Group\u2019<span class=\"_ _9\"/>s financial performance of the Group due to their nature. <span class=\"_ _3\"/>A list of principal subsidiaries, joint ventures, associates and inv<span class=\"_ _7\"/>estments of the <span class=\"_ _3\"/>V<span class=\"_ _3\"/>opak Group is also included in this section.  The f<span class=\"_ _7\"/>ollowing notes are presented in this section:  \u2022 <span class=\"_ _19f\"> </span><span class=\"fc1\">9.1 Earnings per ordinar<span class=\"_ _5\"/>y share - number of shares  </span>\u2022 <span class=\"_ _19f\"> </span><span class=\"fc1\">9.2 Loans granted and finance lease receiv<span class=\"_ _7\"/>ables  </span>\u2022 <span class=\"_ _19f\"> </span><span class=\"fc1\">9.3 Macro-economic and geopolitical uncertaint<span class=\"_ _5\"/>y  </span>\u2022 <span class=\"_ _19f\"> </span><span class=\"fc1\">9.4 P<span class=\"_ _3\"/>ensions and other employee benefits  </span>\u2022 <span class=\"_ _19f\"> </span><span class=\"fc1\">9.5 Pro<span class=\"_ _7\"/>visions  </span>\u2022 <span class=\"_ _19f\"> </span><span class=\"fc1\">9.6 Inv<span class=\"_ _7\"/>estments and other financial assets  </span>\u2022 <span class=\"_ _19f\"> </span><span class=\"fc1\">9.7 Inv<span class=\"_ _7\"/>estment commitments undertaken  </span>\u2022 <span class=\"_ _19f\"> </span><span class=\"fc1\">9.8 Contingent assets and contingent liabilities  </span>\u2022 <span class=\"_ _19f\"> </span><span class=\"fc1\">9.9 Financial assets and liabilities and credit risk  </span>\u2022 <span class=\"_ _19f\"> </span><span class=\"fc1\">9.1<span class=\"_ _3\"/>0 New standards and interpretations not yet implemented  </span>\u2022 <span class=\"_ _19f\"> </span><span class=\"fc1\">9.1<span class=\"_ _9\"/>1 P<span class=\"_ _7\"/>rincipal subsidiaries, joint vent<span class=\"_ _7\"/>ures, associates and inv<span class=\"_ _7\"/>estments  </span>\u2022 <span class=\"_ _19f\"> </span><span class=\"fc1\">9.1<span class=\"_ _3\"/>2 Events af<span class=\"_ _3\"/>ter the reporting period  </span>Note 9.1 Ear<span class=\"_ _3\"/>nings per ordinary shar<span class=\"_ _3\"/>e - number of shares  Basic earnings per ordinary share are calculated by dividing the net profit at<span class=\"_ _3\"/>tribut<span class=\"_ _5\"/>able to holders of ordinar<span class=\"_ _5\"/>y shares by the time-w<span class=\"_ _7\"/>eighted av<span class=\"_ _7\"/>erage number of outstanding ordinar<span class=\"_ _5\"/>y shares (ex<span class=\"_ _7\"/>cluding the av<span class=\"_ _7\"/>erage number of treasur<span class=\"_ _5\"/>y shares). <span class=\"_ _9\"/>T<span class=\"_ _7\"/>he weighted av<span class=\"_ _7\"/>erage number of outstanding shares was 1<span class=\"_ _3\"/>25,395,678 in 2022 (2021: 125,41<span class=\"_ _9\"/>6,945).  In calculating the diluted earnings per ordinar<span class=\"_ _5\"/>y share, the weighted a<span class=\"_ _7\"/>verage number of outstanding shares is adjusted for the dilutive ef<span class=\"_ _3\"/>f<span class=\"_ _7\"/>ects of all dilutive potential ordinar<span class=\"_ _5\"/>y shares, suc<span class=\"_ _3\"/>h as share-based payment arrangements.  The composition of the w<span class=\"_ _7\"/>eighted av<span class=\"_ _7\"/>erage number of outstanding shares and of the diluted weighted a<span class=\"_ _7\"/>verage number of outstanding shares is as follo<span class=\"_ _7\"/>ws:   In thousands  <span class=\"_ _241\"> </span>Note  <span class=\"_ _20\"> </span>2022  <span class=\"_ _c2\"> </span>202Outstanding ordinar<span class=\"_ _5\"/>y shares at 1 January  <span class=\"_ _1bd\"> </span><span class=\"ff3 fc13 ws8e\">5.1  <span class=\"_ _11\"> </span></span><span class=\"ws8e\">125,349  <span class=\"_ _9d\"> </span>1<span class=\"_ _3\"/>25,395  </span>Mov<span class=\"_ _7\"/>ements treasur<span class=\"_ _5\"/>y shares  <span class=\"_ _a4\"> </span><span class=\"ff3 fc13 ws8e\">5.1  <span class=\"_ _31\"> </span></span><span class=\"ws8e\">47  <span class=\"_ _4d\"> </span>22  </span>Basic weight<span class=\"_ _7\"/>ed aver<span class=\"_ _7\"/>age number of or<span class=\"_ _7\"/>dinary shares  <span class=\"_ _290\"> </span><span class=\"fs11 fc3\"> <span class=\"_ _142\"> </span></span><span class=\"fc0 wsb\">125,396  <span class=\"_ _15b\"> </span><span class=\"fcb\">125,417  </span></span>Dilutive ef<span class=\"_ _3\"/>fect of L<span class=\"_ _9\"/>TSPs (equity-set<span class=\"_ _7\"/>tled part)  <span class=\"_ _7d\"> </span><span class=\"ff3 fs11 fc3\"> <span class=\"_ _19b\"> </span></span><span class=\"ws8e\">149  <span class=\"_ _bc\"> </span>1<span class=\"_ _7\"/>93  </span>W<span class=\"_ _7\"/>eighted av<span class=\"_ _7\"/>erag<span class=\"_ _7\"/>e number of ordinary shar<span class=\"_ _7\"/>es including dilutive ef<span class=\"_ _7\"/>f<span class=\"_ _7\"/>ect  <span class=\"_ _70\"> </span><span class=\"fs11 fc3\"> <span class=\"_ _15b\"> </span></span><span class=\"fc0 wsb\">125,545  <span class=\"_ _143\"> </span><span class=\"fcb\">125,61<span class=\"_ _3\"/>0  </span></span>At 31 December 2022, the company o<span class=\"_ _7\"/>wned 324,587 treasur<span class=\"_ _5\"/>y shares (2021: 392,0<span class=\"_ _3\"/>1<span class=\"_ _3\"/>6). <span class=\"_ _9\"/>The treasur<span class=\"_ _5\"/>y shares hav<span class=\"_ _7\"/>e no voting rights at<span class=\"_ _3\"/>tached to them, nor are the<span class=\"_ _7\"/>y eligible for dividends during the period when these are held by the compan<span class=\"_ _7\"/>y<span class=\"_ _3\"/>.  When the vesting conditions of the equity-set<span class=\"_ _3\"/>tled share-based payment arrangements are met, the set<span class=\"_ _3\"/>tlement will result in an increase of the number of shares outst<span class=\"_ _5\"/>anding, which will hav<span class=\"_ _7\"/>e a dilutive ef<span class=\"_ _3\"/>f<span class=\"_ _7\"/>ect. During 2022, the L<span class=\"_ _9\"/>TSP 20<span class=\"_ _3\"/>19-2021 share-based pa<span class=\"_ _3\"/>yment arrangement w<span class=\"_ _7\"/>as set<span class=\"_ _7\"/>tled resulting in the transf<span class=\"_ _7\"/>er of 67<span class=\"_ _d\"/>,429 treasur<span class=\"_ _5\"/>y shares to eligible employ<span class=\"_ _7\"/>ees (2021: 45,434 shares).  The L<span class=\"_ _9\"/>TSP 2020-2022 will be set<span class=\"_ _3\"/>tled in 2023. For more inf<span class=\"_ _3\"/>ormation, reference is made to note 7<span class=\"_ _d\"/>.2.  Note 9.2 Loans gr<span class=\"_ _3\"/>anted and finance lease r<span class=\"_ _7\"/>eceiv<span class=\"_ _7\"/>able  A<span class=\"_ _1e\"> </span><span class=\"ff3 fs9\">Accounting policies  </span>The Group classifies its loans granted and other debt in<span class=\"_ _7\"/>vestments at amortiz<span class=\"_ _7\"/>ed cost only if both of the follo<span class=\"_ _7\"/>wing criteria are met:  \u2022 <span class=\"_ _19f\"> </span>the asset is held within a business model with the objective of collecting the contract<span class=\"_ _7\"/>ual cash flows, and  \u2022 <span class=\"_ _19f\"> </span>the contractual terms giv<span class=\"_ _7\"/>e rise on specified dates to cash flows that are solely pa<span class=\"_ _7\"/>yments of principal and interest on the principal outstanding<span class=\"_ _5\"/>.  All loans granted and other debt inv<span class=\"_ _7\"/>estments meet these criteria and are measured at amortized cost.   At initial recognition, the Group measures loans granted at its fair v<span class=\"_ _7\"/>alue plus directly at<span class=\"_ _3\"/>tribut<span class=\"_ _5\"/>able transaction costs. Subsequently<span class=\"_ _3\"/>, these items are carried at amortiz<span class=\"_ _7\"/>ed cost using the ef<span class=\"_ _7\"/>f<span class=\"_ _7\"/>ective interest method.  Assets held under a finance lease are presented in the Statement of financial position as a receivable at an amount equal to the net in<span class=\"_ _7\"/>vestment in the lease. <span class=\"_ _8\"/>The income on the finance lease receivable is based on a pat<span class=\"_ _3\"/>tern reflecting a constant periodic rate of return on the lessor\u2019<span class=\"_ _3\"/>s net inv<span class=\"_ _7\"/>estment in the finance lease and is presented as Other income.  The e<span class=\"_ _7\"/>xpected credit losses associated with its loans granted and other issued debt instruments car<span class=\"_ _7\"/>ried at amortized cost are assessed b<span class=\"_ _7\"/>y the Group on a for<span class=\"_ _5\"/>ward looking basis. The impairment methodology applied depends on whether there has been a significant increase in credit risk.   Loans to joint v<span class=\"_ _7\"/>entur<span class=\"_ _7\"/>es and  associates  <span class=\"_ _1b7\"> </span>Other loans  <span class=\"_ _3d\"> </span>T<span class=\"_ _9\"/>otal loans grant<span class=\"_ _7\"/>ed  <span class=\"_ _18d\"> </span>Finance lease receiv<span class=\"_ _3\"/>able    <span class=\"_ _3d\"> </span> <span class=\"_ _101\"> </span> <span class=\"_ _f6\"> </span> <span class=\"_ _101\"> </span> <span class=\"_ _f6\"> </span> <span class=\"_ _101\"> </span> <span class=\"_ _f6\"> </span> In EUR millions  <span class=\"_ _12a\"> </span><span class=\"fs7 fc0 wsb\">2022  <span class=\"_ _b1\"> </span><span class=\"fc7\">2021  <span class=\"_ _51\"> </span></span>2022  <span class=\"_ _b1\"> </span><span class=\"fc7\">2021  <span class=\"_ _51\"> </span></span>2022  <span class=\"_ _51\"> </span><span class=\"fc7\">2021  <span class=\"_ _b1\"> </span></span>2022  <span class=\"_ _51\"> </span><span class=\"fc7\">2021  </span></span>Car<span class=\"_ _7\"/>rying amount at 1 January  <span class=\"_ _25c\"> </span>\u2013  <span class=\"_ _88\"> </span><span class=\"fcb\">54.8  <span class=\"_ _2f\"> </span></span>45.6  <span class=\"_ _2f\"> </span><span class=\"fcb\">36.2  <span class=\"_ _88\"> </span></span>45.6  <span class=\"_ _88\"> </span><span class=\"fcb\">91<span class=\"_ _3\"/>.0  <span class=\"_ _19c\"> </span><span class=\"fc0\">131.2  <span class=\"_ _2f\"> </span></span>28.6  </span>Mov<span class=\"_ _7\"/>ements:  <span class=\"_ _df\"> </span><span class=\"fs11 fc3\"> <span class=\"_ _3d\"> </span> <span class=\"_ _3d\"> </span> <span class=\"_ _3d\"> </span> <span class=\"_ _3d\"> </span> <span class=\"_ _3d\"> </span> <span class=\"_ _3d\"> </span> <span class=\"_ _3d\"> </span> </span>Loans granted  <span class=\"_ _2d6\"> </span><span class=\"ws8e\">\u2013  <span class=\"_ _86\"> </span>\u2013  <span class=\"_ _5a\"> </span>6.0  <span class=\"_ _3c\"> </span>1<span class=\"_ _7\"/>3.0  <span class=\"_ _5a\"> </span>6.0  <span class=\"_ _3c\"> </span>13.0  <span class=\"_ _6f\"> </span>\u2013  <span class=\"_ _86\"> </span>\u2013  </span>Repa<span class=\"_ _7\"/>yments  <span class=\"_ _2d7\"> </span><span class=\"ws8e\">\u2013  <span class=\"_ _86\"> </span>\u2013  <span class=\"_ _96\"> </span>- <span class=\"_ _c\"> </span>7<span class=\"_ _1\"/>.1  <span class=\"_ _3f\"> </span>- <span class=\"_ _23\"> </span>3.8  <span class=\"_ _96\"> </span>- <span class=\"_ _c\"> </span>7<span class=\"_ _8\"/>.1  <span class=\"_ _3f\"> </span>- <span class=\"_ _c\"> </span>3.8  <span class=\"_ _49\"> </span>- <span class=\"_ _c\"> </span>13.6  <span class=\"_ _108\"> </span>- <span class=\"_ _23\"> </span>9.5  </span>Reclassification  <span class=\"_ _2d8\"> </span><span class=\"ws8e\">\u2013  <span class=\"_ _83\"> </span>- <span class=\"_ _c\"> </span>57<span class=\"_ _1\"/>.0  <span class=\"_ _86\"> </span>\u2013  <span class=\"_ _86\"> </span>\u2013  <span class=\"_ _86\"> </span>\u2013  <span class=\"_ _83\"> </span>- <span class=\"_ _23\"> </span>57<span class=\"_ _1\"/>.0  <span class=\"_ _86\"> </span>\u2013  <span class=\"_ _51\"> </span>1<span class=\"_ _9\"/>04.7  </span>Other loans interest income  <span class=\"_ _29e\"> </span><span class=\"ws8e\">\u2013  <span class=\"_ _86\"> </span>\u2013  <span class=\"_ _5a\"> </span>0.3  <span class=\"_ _86\"> </span>\u2013  <span class=\"_ _5a\"> </span>0.3  <span class=\"_ _187\"> </span>\u2013  <span class=\"_ _86\"> </span>\u2013  <span class=\"_ _86\"> </span>\u2013  </span>Finance lease interest income  <span class=\"_ _1f2\"> </span><span class=\"ws8e\">\u2013  <span class=\"_ _86\"> </span>\u2013  <span class=\"_ _86\"> </span>\u2013  <span class=\"_ _86\"> </span>\u2013  <span class=\"_ _86\"> </span>\u2013  <span class=\"_ _86\"> </span>\u2013  <span class=\"_ _5a\"> </span>8.4  <span class=\"_ _5a\"> </span>6.6  </span>Exc<span class=\"_ _3\"/>hange diff<span class=\"_ _3\"/>erences  <span class=\"_ _12e\"> </span><span class=\"ws8e\">\u2013  <span class=\"_ _5a\"> </span>2.2  <span class=\"_ _5a\"> </span>0.9  <span class=\"_ _5a\"> </span>0.2  <span class=\"_ _5a\"> </span>0.9  <span class=\"_ _5a\"> </span>2.4  <span class=\"_ _5a\"> </span>5.9  <span class=\"_ _5a\"> </span>0.8  </span>Car<span class=\"_ _7\"/>rying amount at 31 December  <span class=\"_ _1c6\"> </span><span class=\"fc0 wsb\">\u2013  <span class=\"_ _6f\"> </span><span class=\"fcb\">\u2013  <span class=\"_ _2f\"> </span></span>45.7  <span class=\"_ _88\"> </span><span class=\"fcb\">45.6  <span class=\"_ _2f\"> </span></span>45.7  <span class=\"_ _2f\"> </span><span class=\"fcb\">45.6  <span class=\"_ _19c\"> </span></span>131<span class=\"_ _7\"/>.9  <span class=\"_ _19c\"> </span><span class=\"fcb\">131<span class=\"_ _7\"/>.2  </span></span> <span class=\"_ _3d\"> </span> <span class=\"_ _3d\"> </span> <span class=\"_ _3d\"> </span> <span class=\"_ _3d\"> </span> <span class=\"_ _3d\"> </span> <span class=\"_ _3d\"> </span> <span class=\"_ _3d\"> </span> <span class=\"_ _3d\"> </span> Non-current receivables  <span class=\"_ _2d9\"> </span><span class=\"ws8e\">\u2013  <span class=\"_ _86\"> </span>\u2013  <span class=\"_ _3f\"> </span>43.8  <span class=\"_ _3f\"> </span>44.8  <span class=\"_ _3f\"> </span>43.8  <span class=\"_ _3f\"> </span>44.8  <span class=\"_ _49\"> </span>1<span class=\"_ _7\"/>26.1  <span class=\"_ _45\"> </span>1<span class=\"_ _3\"/>27<span class=\"_ _1\"/>.6  </span>Current receivables  <span class=\"_ _2c1\"> </span><span class=\"ws8e\">\u2013  <span class=\"_ _86\"> </span>\u2013  <span class=\"_ _182\"> </span>1<span class=\"_ _8\"/>.9  <span class=\"_ _5a\"> </span>0.8  <span class=\"_ _182\"> </span>1<span class=\"_ _9\"/>.9  <span class=\"_ _1c3\"> </span>0.8  <span class=\"_ _5a\"> </span>5.8  <span class=\"_ _5a\"> </span>3.6  </span>Car<span class=\"_ _7\"/>rying amount at 31 December  <span class=\"_ _1c6\"> </span><span class=\"fc0 wsb\">\u2013  <span class=\"_ _6f\"> </span><span class=\"fcb\">\u2013  <span class=\"_ _2f\"> </span></span>45.7  <span class=\"_ _88\"> </span><span class=\"fcb\">45.6  <span class=\"_ _2f\"> </span></span>45.7  <span class=\"_ _2f\"> </span><span class=\"fcb\">45.6  <span class=\"_ _19c\"> </span></span>131<span class=\"_ _7\"/>.9  <span class=\"_ _19c\"> </span><span class=\"fcb\">131<span class=\"_ _7\"/>.2  </span></span>In 2021, a finance lease of EUR 1<span class=\"_ _3\"/>04.1 million was recorded b<span class=\"_ _7\"/>y <span class=\"_ _3\"/>V<span class=\"_ _3\"/>opak <span class=\"_ _8\"/>T<span class=\"_ _9\"/>erminal Corpus Christi, in the United States, af<span class=\"_ _7\"/>ter the assets were commissioned. <span class=\"_ _8\"/>The commercial contract has a duration of 20-years af<span class=\"_ _3\"/>ter whic<span class=\"_ _3\"/>h the assets will automatically transfer to the customer<span class=\"_ _9\"/>.   Loans granted do not include an<span class=\"_ _7\"/>y subordinated loans.   Ref<span class=\"_ _3\"/>erence is made to note 9.9 for the fair v<span class=\"_ _3\"/>alue information and note 6.7 on the remaining period at the end of the reporting period to the contractual mat<span class=\"_ _3\"/>urit<span class=\"_ _5\"/>y date.   With respect to the loans granted and the finance lease receivables, whic<span class=\"_ _3\"/>h are neither impaired nor past due, there are no indications as of the reporting date that the debtors will not meet their payment obligations.   Note 9.3 Macr<span class=\"_ _3\"/>o-economic and geopolitical uncer<span class=\"_ _7\"/>tainty  Russia-Ukraine w<span class=\"_ _7\"/>ar  The R<span class=\"_ _7\"/>ussian inv<span class=\"_ _7\"/>asion of Ukraine is a major humanitarian drama and we sympathize with the people who are now suf<span class=\"_ _3\"/>f<span class=\"_ _7\"/>ering from the violence of war<span class=\"_ _9\"/>.  V<span class=\"_ _3\"/>opak is monitoring the situation closely and is fully commit<span class=\"_ _9\"/>ted to adhere to relevant sanctions, laws and regulations. <span class=\"_ _7\"/>As go<span class=\"_ _7\"/>vernments try to ensure energy securit<span class=\"_ _5\"/>y and af<span class=\"_ _7\"/>fordability<span class=\"_ _9\"/>, <span class=\"_ _3\"/>V<span class=\"_ _3\"/>opak adheres to applicable government regulations with regards to energy imports from Russia.  The R<span class=\"_ _7\"/>ussia-Ukraine war and the international sanction regimes mak<span class=\"_ _7\"/>e the market sit<span class=\"_ _7\"/>uation volatile and uncertain. Direct impact is assessed to be mainly in <span class=\"_ _3\"/>V<span class=\"_ _9\"/>opak\u2019<span class=\"_ _3\"/>s Europoort terminal and to be limited on <span class=\"_ _3\"/>V<span class=\"_ _9\"/>opak\u2019<span class=\"_ _3\"/>s group lev<span class=\"_ _7\"/>el. <span class=\"_ _9\"/>There is, ho<span class=\"_ _3\"/>wev<span class=\"_ _7\"/>er<span class=\"_ _3\"/>, an indirect exposure through factors suc<span class=\"_ _3\"/>h as utility prices, inflation, market conditions and ex<span class=\"_ _7\"/>c<span class=\"_ _7\"/>hange rates, whic<span class=\"_ _3\"/>h was considered during the individual asset valuation perf<span class=\"_ _7\"/>ormed during 2022. <span class=\"_ _3\"/>V<span class=\"_ _3\"/>opak continues to closely monitor the dev<span class=\"_ _7\"/>elopments and takes measures to adapt to the c<span class=\"_ _3\"/>hanged factors.    CO<span class=\"_ _3\"/>VID-19 pandemic  The pandemic spread of CO<span class=\"_ _3\"/>VID-1<span class=\"_ _3\"/>9 (Coronavirus) has a significant impact on all people and organizations around the world. Our main f<span class=\"_ _7\"/>ocus remains on the health of the people working at our terminals, of<span class=\"_ _7\"/>fices or at home around the world and to limit the spread of the Coronavir<span class=\"_ _7\"/>us, to manage the impact on our business and to assess the impact on the economy and society<span class=\"_ _3\"/>. <span class=\"_ _8\"/>Therefore, w<span class=\"_ _7\"/>e hav<span class=\"_ _7\"/>e put global and local measures into place to protect our employ<span class=\"_ _7\"/>ees, their families and our operations based on inf<span class=\"_ _7\"/>ormation provided b<span class=\"_ _7\"/>y the <span class=\"_ _3\"/>W<span class=\"_ _7\"/>orld Health Organization, national and local health authorities. <span class=\"_ _3\"/>W<span class=\"_ _7\"/>e hav<span class=\"_ _7\"/>e monitored dev<span class=\"_ _7\"/>elopments closely throughout the year and scenario-based contingency plans and other mitigating measures were ready to implement, if needed. <span class=\"_ _8\"/>T<span class=\"_ _9\"/>o date, thanks to the adjustments and ef<span class=\"_ _7\"/>forts of our people, w<span class=\"_ _7\"/>e hav<span class=\"_ _7\"/>e obser<span class=\"_ _5\"/>ved a limited impact on our operations. <span class=\"_ _7\"/>All our terminals are operational and there hav<span class=\"_ _7\"/>e been no significant disruptions to business continuity<span class=\"_ _9\"/>.  V<span class=\"_ _3\"/>opak\u2019<span class=\"_ _9\"/>s strategy is robust and unc<span class=\"_ _7\"/>hanged. An ef<span class=\"_ _3\"/>f<span class=\"_ _7\"/>ective control and go<span class=\"_ _7\"/>vernance str<span class=\"_ _7\"/>ucture to respond to the impact of the global pandemic, with continued decision making to support business ex<span class=\"_ _7\"/>ecution and well-being of people, has been put in place. Operational and financial performance, cash flo<span class=\"_ _7\"/>ws and our financial position hav<span class=\"_ _7\"/>e not been significantly af<span class=\"_ _7\"/>f<span class=\"_ _7\"/>ected. Our financial results reflect our resilient business performance.   Our focus in these circumstances is on the short-term delivery and protection of long-term value. <span class=\"_ _9\"/>V<span class=\"_ _3\"/>opak play<span class=\"_ _7\"/>s an import<span class=\"_ _5\"/>ant role within society by storing vital products with care. <span class=\"_ _3\"/>W<span class=\"_ _7\"/>e are doing our utmost during the CO<span class=\"_ _3\"/>VID-1<span class=\"_ _7\"/>9 pandemic to continue to fulfil this role in all our work locations around the world.  Although the pandemic brings a lot of uncertaint<span class=\"_ _5\"/>y and the estimates remain subject to future ev<span class=\"_ _7\"/>ents, we e<span class=\"_ _7\"/>xpect to continue to manage our performance in line with our original business plans and unc<span class=\"_ _3\"/>hanged strategy<span class=\"_ _3\"/>.  Note 9.4 P<span class=\"_ _3\"/>ensions and other employ<span class=\"_ _3\"/>ee benefits  The majority of employ<span class=\"_ _7\"/>ees are either cov<span class=\"_ _7\"/>ered by defined benefit plans, defined contribution plans or mandator<span class=\"_ _5\"/>y external pension plans. <span class=\"_ _8\"/>The defined benefit plans are plans that apply in the follo<span class=\"_ _7\"/>wing countries: the United States, Germany and Belgium. <span class=\"_ _8\"/>These countries mostly operate final-pay pension plans, administrated b<span class=\"_ _7\"/>y pension funds separate from the company<span class=\"_ _9\"/>. <span class=\"_ _9\"/> A<span class=\"_ _1e\"> </span><span class=\"ff3 fs9\">Accounting policies  </span>Defined benefit plans  The Group\u2019<span class=\"_ _9\"/>s net pension obligation is calculated b<span class=\"_ _7\"/>y an independent actuary<span class=\"_ _3\"/>, using the projected unit credit method. <span class=\"_ _9\"/>T<span class=\"_ _7\"/>his calculation is performed separately f<span class=\"_ _7\"/>or eac<span class=\"_ _7\"/>h plan by estimating the amount of the benefit that employ<span class=\"_ _7\"/>ees hav<span class=\"_ _7\"/>e earned in relation to their past ser<span class=\"_ _5\"/>vices. <span class=\"_ _9\"/>T<span class=\"_ _7\"/>he liabilit<span class=\"_ _5\"/>y recogniz<span class=\"_ _7\"/>ed in the balance sheet is the present value of these benefits at the end of the reporting period (defined benefit obligation) less the fair v<span class=\"_ _7\"/>alue of plan assets. <span class=\"_ _9\"/>T<span class=\"_ _7\"/>he defined benefit obligation is determined by discounting the estimated fut<span class=\"_ _7\"/>ure cash flows using interest rates of high-quality corporate bonds with durations matc<span class=\"_ _3\"/>hing the expected terms of the benefits.   The increase in the defined benefit obligation due to the passage of time and the e<span class=\"_ _7\"/>xpected return on plan assets, using the same interest rate as f<span class=\"_ _7\"/>or the defined benefit obligation, are included in the pension costs.   P<span class=\"_ _7\"/>ast-ser<span class=\"_ _5\"/>vice costs are recognized immediately in the statement of income. A<span class=\"_ _7\"/>ctuarial gains and losses arising from experience adjustments and c<span class=\"_ _3\"/>hanges in actuarial assumptions are recognized in equity via Other comprehensive income in the period in whic<span class=\"_ _3\"/>h they arise.   When a plan is c<span class=\"_ _3\"/>hanged, settled or when a plan is curtailed, the resulting c<span class=\"_ _3\"/>hange in the defined benefit obligation that relates to past-ser<span class=\"_ _5\"/>vice or the gain or loss on curtailment is recognized immediately in the statement of income under P<span class=\"_ _3\"/>ersonnel expenses. <span class=\"_ _8\"/>The Group recognizes gains and losses on the set<span class=\"_ _3\"/>tlement of a defined benefit plan when the set<span class=\"_ _3\"/>tlement occurs.  Defined contr<span class=\"_ _7\"/>ibution plans  Contributions to defined contribution plans are recognized as an e<span class=\"_ _7\"/>xpense in the statement ofincome as incurred.   <span class=\"ff3 fsc\">Ke<span class=\"_ _7\"/>y accounting estimates and judgments  </span>The defined benefit obligation is determined on the basis of assumptions f<span class=\"_ _7\"/>or future de<span class=\"_ _7\"/>velopments in variables suc<span class=\"_ _3\"/>h as salar<span class=\"_ _5\"/>y increase, price index increase, lif<span class=\"_ _3\"/>e expectancy and discount rate. All assumptions are assessed at the reporting date. Changes in the assumptions may significantly af<span class=\"_ _7\"/>f<span class=\"_ _7\"/>ect the liabilities and pension costs under the defined benefit plans. <span class=\"_ _9\"/>The weighted a<span class=\"_ _7\"/>verage of these assumptions as well as sensitivities of k<span class=\"_ _7\"/>ey assumptions are disclosed in this note.  P<span class=\"_ _7\"/>ensions and other employ<span class=\"_ _7\"/>ee benefits  The table below pro<span class=\"_ _7\"/>vides an ov<span class=\"_ _7\"/>er<span class=\"_ _5\"/>view of the mo<span class=\"_ _7\"/>vements in the plan assets and defined benefits obligation for the y<span class=\"_ _7\"/>ears presented, showing separately the amounts that w<span class=\"_ _7\"/>ere recognized in the income statement, the statement of other comprehensive as well as the cash flows f<span class=\"_ _7\"/>or the period.   <span class=\"_ _1bb\"> </span><span class=\"fs7 fcd\">Plan assets  <span class=\"_ _96\"> </span>Defined Benefit Obligation  <span class=\"_ _1a5\"> </span>T<span class=\"_ _8\"/>otal  </span>  <span class=\"_ _3d\"> </span> <span class=\"_ _101\"> </span> <span class=\"_ _f6\"> </span> <span class=\"_ _101\"> </span> <span class=\"_ _f6\"> </span> in EUR millions  <span class=\"_ _2da\"> </span><span class=\"fs7 fc0 wsb\">2022  <span class=\"_ _51\"> </span><span class=\"fc7\">2021  <span class=\"_ _b1\"> </span></span>2022  <span class=\"_ _51\"> </span><span class=\"fc7\">2021  <span class=\"_ _51\"> </span></span>2022  <span class=\"_ _b1\"> </span><span class=\"fc7\">2021  </span></span>Opening balance defined benefits position at 1 January  <span class=\"_ _20b\"> </span>138.7  <span class=\"_ _51\"> </span><span class=\"fcb\">1<span class=\"_ _3\"/>17<span class=\"_ _1\"/>.2  <span class=\"_ _55\"> </span><span class=\"fc0\">- <span class=\"_ _23\"> </span>172.2  <span class=\"_ _31\"> </span></span>- <span class=\"_ _23\"> </span>165.4  <span class=\"_ _7e\"> </span><span class=\"fc0\">- <span class=\"_ _23\"> </span>33.5  <span class=\"_ _7e\"> </span></span>- <span class=\"_ _c\"> </span>48.2  </span>Mov<span class=\"_ _7\"/>ements:  <span class=\"_ _2db\"> </span><span class=\"fs11 fc3\"> <span class=\"_ _3d\"> </span> <span class=\"_ _3d\"> </span> <span class=\"_ _3d\"> </span> <span class=\"_ _3d\"> </span> <span class=\"_ _3d\"> </span> </span>Current service costs  <span class=\"_ _2dc\"> </span><span class=\"ws8e\">\u2013  <span class=\"_ _86\"> </span>\u2013  <span class=\"_ _3f\"> </span>- <span class=\"_ _c\"> </span>6.4  <span class=\"_ _3f\"> </span>- <span class=\"_ _c\"> </span>6.2  <span class=\"_ _3f\"> </span>- <span class=\"_ _23\"> </span>6.4  <span class=\"_ _3f\"> </span>- <span class=\"_ _c\"> </span>6.2  </span>Administration costs and taxes  <span class=\"_ _2dd\"> </span><span class=\"ws8e\">\u2013  <span class=\"_ _86\"> </span>\u2013  <span class=\"_ _3f\"> </span>- <span class=\"_ _c\"> </span>0.5  <span class=\"_ _3f\"> </span>- <span class=\"_ _c\"> </span>0.4  <span class=\"_ _3f\"> </span>- <span class=\"_ _23\"> </span>0.5  <span class=\"_ _3f\"> </span>- <span class=\"_ _c\"> </span>0.4  </span>Interest income/(expenses)  <span class=\"_ _273\"> </span><span class=\"ws8e\">4.1  <span class=\"_ _1c3\"> </span>3.0  <span class=\"_ _3f\"> </span>- <span class=\"_ _23\"> </span>4.8  <span class=\"_ _3f\"> </span>- <span class=\"_ _c\"> </span>3.8  <span class=\"_ _3f\"> </span>- <span class=\"_ _23\"> </span>0.7  <span class=\"_ _3f\"> </span>- <span class=\"_ _c\"> </span>0.8  </span>Components of defined benefit income/(costs) recor<span class=\"_ _7\"/>ded in profit or loss  4.1  <span class=\"_ _8b\"> </span>3.0  <span class=\"_ _1bb\"> </span>- <span class=\"_ _23\"> </span>1<span class=\"_ _3\"/>1<span class=\"_ _7\"/>.7  <span class=\"_ _1b2\"> </span>- <span class=\"_ _23\"> </span>1<span class=\"_ _7\"/>0.4  <span class=\"_ _3f\"> </span>- <span class=\"_ _c\"> </span>7<span class=\"_ _8\"/>.6  <span class=\"_ _3f\"> </span>- <span class=\"_ _23\"> </span>7<span class=\"_ _8\"/>.4  Ret<span class=\"_ _7\"/>urn on plan assets (excluding interest income on plan assets)  <span class=\"_ _245\"> </span><span class=\"ws8e\">- <span class=\"_ _c\"> </span>26.7  <span class=\"_ _5a\"> </span>8.4  <span class=\"_ _187\"> </span>\u2013  <span class=\"_ _86\"> </span>\u2013  <span class=\"_ _7c\"> </span>- <span class=\"_ _23\"> </span>26.7  <span class=\"_ _5a\"> </span>8.4  </span>Act<span class=\"_ _7\"/>uarial gains (-) and losses from c<span class=\"_ _7\"/>hanges in demographic assumptions (remeasurement)  <span class=\"_ _1a6\"> </span><span class=\"ws8e\">\u2013  <span class=\"_ _86\"> </span>\u2013  <span class=\"_ _3f\"> </span>- <span class=\"_ _23\"> </span>0.4  <span class=\"_ _5a\"> </span>2.3  <span class=\"_ _3f\"> </span>- <span class=\"_ _c\"> </span>0.4  <span class=\"_ _5a\"> </span>2.3  </span>Act<span class=\"_ _7\"/>uarial gains (-) and losses from experience  <span class=\"_ _c1\"> </span><span class=\"ws8e\">\u2013  <span class=\"_ _86\"> </span>\u2013  <span class=\"_ _5a\"> </span>2.1  <span class=\"_ _182\"> </span>1<span class=\"_ _9\"/>.2  <span class=\"_ _1c3\"> </span>2.1  <span class=\"_ _182\"> </span>1<span class=\"_ _9\"/>.2  </span>Act<span class=\"_ _7\"/>uarial gains (-) and losses from c<span class=\"_ _7\"/>hanges in financial assumptions (remeasurement)  <span class=\"_ _23d\"> </span><span class=\"ws8e\">\u2013  <span class=\"_ _86\"> </span>\u2013  <span class=\"_ _3f\"> </span>53.4  <span class=\"_ _5a\"> </span>5.6  <span class=\"_ _3f\"> </span>53.4  <span class=\"_ _5a\"> </span>5.6  </span>Components of defined benefit income/(costs) recor<span class=\"_ _7\"/>ded in other comprehensiv<span class=\"_ _7\"/>e income  - <span class=\"_ _23\"> </span>26.7  <span class=\"_ _8b\"> </span>8.4  <span class=\"_ _88\"> </span>55.1  <span class=\"_ _8b\"> </span>9.1  <span class=\"_ _2f\"> </span>28.4  <span class=\"_ _185\"> </span>17<span class=\"_ _1\"/>.5  Benefits paid from the pension fund  <span class=\"_ _2cc\"> </span><span class=\"ws8e\">- <span class=\"_ _23\"> </span>7<span class=\"_ _1\"/>.8  <span class=\"_ _3f\"> </span>- <span class=\"_ _c\"> </span>5.6  <span class=\"_ _5a\"> </span>6.9  <span class=\"_ _5a\"> </span>4.9  <span class=\"_ _3f\"> </span>- <span class=\"_ _23\"> </span>0.9  <span class=\"_ _3f\"> </span>- <span class=\"_ _c\"> </span>0.7  </span>Employ<span class=\"_ _7\"/>er's contributions  <span class=\"_ _284\"> </span><span class=\"ws8e\">7<span class=\"_ _d\"/>.2  <span class=\"_ _5a\"> </span>6.5  <span class=\"_ _5a\"> </span>0.8  <span class=\"_ _5a\"> </span>0.7  <span class=\"_ _5a\"> </span>8.0  <span class=\"_ _52\"> </span>7<span class=\"_ _8\"/>.2  </span>Reclassification to held f<span class=\"_ _7\"/>or sale  <span class=\"_ _2de\"> </span><span class=\"ws8e\">- <span class=\"_ _c\"> </span>0.8  <span class=\"_ _86\"> </span>\u2013  <span class=\"_ _10d\"> </span>1<span class=\"_ _9\"/>.2  <span class=\"_ _86\"> </span>\u2013  <span class=\"_ _5a\"> </span>0.4  <span class=\"_ _86\"> </span>\u2013  </span>Exc<span class=\"_ _3\"/>hange diff<span class=\"_ _3\"/>erences  <span class=\"_ _2df\"> </span><span class=\"ws8e\">7<span class=\"_ _1\"/>.7  <span class=\"_ _5a\"> </span>9.2  <span class=\"_ _3f\"> </span>- <span class=\"_ _c\"> </span>9.2  <span class=\"_ _45\"> </span>- <span class=\"_ _c\"> </span>1<span class=\"_ _9\"/>1<span class=\"_ _9\"/>.1  <span class=\"_ _cb\"> </span>- <span class=\"_ _c\"> </span>1<span class=\"_ _9\"/>.5  <span class=\"_ _41\"> </span>- <span class=\"_ _23\"> </span>1<span class=\"_ _9\"/>.9  </span>Closing balance defined benefits position at 31 December  <span class=\"_ _50\"> </span>122.4  <span class=\"_ _1b2\"> </span><span class=\"fcb\">138.7  <span class=\"_ _55\"> </span></span>- <span class=\"_ _c\"> </span>129.1  <span class=\"_ _8d\"> </span><span class=\"fcb\">- <span class=\"_ _c\"> </span>172.2  <span class=\"_ _66\"> </span></span>- <span class=\"_ _23\"> </span>6.7  <span class=\"_ _18a\"> </span><span class=\"fcb\">- <span class=\"_ _23\"> </span>33.5  </span>Other net pension obligations  <span class=\"_ _2e0\"> </span><span class=\"ws8e\">\u2013  <span class=\"_ _86\"> </span>\u2013  <span class=\"_ _41\"> </span>- <span class=\"_ _23\"> </span>1<span class=\"_ _9\"/>.4  <span class=\"_ _41\"> </span>- <span class=\"_ _c\"> </span>1<span class=\"_ _9\"/>.4  <span class=\"_ _41\"> </span>- <span class=\"_ _23\"> </span>1<span class=\"_ _9\"/>.4  <span class=\"_ _41\"> </span>- <span class=\"_ _c\"> </span>1<span class=\"_ _9\"/>.4  </span>T<span class=\"_ _8\"/>otal pension position recogniz<span class=\"_ _7\"/>ed at 31 December  <span class=\"_ _1e4\"> </span>122.4  <span class=\"_ _1b2\"> </span><span class=\"fcb\">138.7  <span class=\"_ _55\"> </span></span>- <span class=\"_ _c\"> </span>130.5  <span class=\"_ _8d\"> </span><span class=\"fcb\">- <span class=\"_ _c\"> </span>173.6  <span class=\"_ _66\"> </span></span>- <span class=\"_ _23\"> </span>8.1  <span class=\"_ _18a\"> </span><span class=\"fcb\">- <span class=\"_ _23\"> </span>34.9  </span> <span class=\"_ _3d\"> </span> <span class=\"_ _3d\"> </span> <span class=\"_ _3d\"> </span> <span class=\"_ _3d\"> </span> <span class=\"_ _3d\"> </span> <span class=\"_ _3d\"> </span> Current liabilities  <span class=\"_ _2e1\"> </span><span class=\"fs11 fc3\"> <span class=\"_ _3d\"> </span> <span class=\"_ _3d\"> </span> <span class=\"_ _3d\"> </span> <span class=\"_ _3f\"> </span></span><span class=\"ws8e\">- <span class=\"_ _c\"> </span>0.2  <span class=\"_ _3f\"> </span>- <span class=\"_ _c\"> </span>0.2  </span>Non-current liabilities   <span class=\"_ _3d\"> </span> <span class=\"_ _3d\"> </span> <span class=\"_ _3d\"> </span> <span class=\"_ _96\"> </span><span class=\"fs31 fc1 ws8e\">- <span class=\"_ _c\"> </span>7<span class=\"_ _1\"/>.9  <span class=\"_ _46\"> </span>- <span class=\"_ _23\"> </span>34.7  </span>Net pension obligation r<span class=\"_ _7\"/>ecognized at 31 December  <span class=\"_ _242\"> </span><span class=\"fs11 fc3\"> <span class=\"_ _3d\"> </span> <span class=\"_ _3d\"> </span> <span class=\"_ _3d\"> </span> <span class=\"_ _66\"> </span></span>- <span class=\"_ _c\"> </span>8.1  <span class=\"_ _7e\"> </span><span class=\"fcb\">- <span class=\"_ _23\"> </span>34.9  </span>1 <span class=\"_ _b3\"> </span>The defined benefit obligation related to unfunded pension plans amounted to EUR 2.6 million at y<span class=\"_ _7\"/>ear<span class=\"_ _3\"/>-end 2022 (2021: EUR 3.0 million).    <span class=\"_ _1ba\"> </span><span class=\"fs7 fcd\">T<span class=\"_ _9\"/>otal  </span>  <span class=\"_ _3d\"> </span> in EUR millions  <span class=\"_ _e2\"> </span>2022  <span class=\"_ _51\"> </span>2021Defined benefits obligations Allocated to the plans' participants:  <span class=\"_ _a0\"> </span><span class=\"fs11 fc3\"> <span class=\"_ _3d\"> </span> </span>Activ<span class=\"_ _7\"/>e members  <span class=\"_ _2e2\"> </span><span class=\"ws8e\">- <span class=\"_ _c\"> </span>57<span class=\"_ _1\"/>.6  <span class=\"_ _46\"> </span>- <span class=\"_ _c\"> </span>84.8  </span>Def<span class=\"_ _7\"/>erred members  <span class=\"_ _28f\"> </span><span class=\"ws8e\">- <span class=\"_ _c\"> </span>23.5  <span class=\"_ _46\"> </span>- <span class=\"_ _c\"> </span>35.9  </span>P<span class=\"_ _3\"/>ensioners  <span class=\"_ _20e\"> </span><span class=\"ws8e\">- <span class=\"_ _c\"> </span>48.0  <span class=\"_ _b1\"> </span>- <span class=\"_ _c\"> </span>51<span class=\"_ _9\"/>.5  </span>Defined benefit obligation at 31 December  <span class=\"_ _ac\"> </span>- <span class=\"_ _c\"> </span>129.1  <span class=\"_ _8d\"> </span><span class=\"fcb\">- <span class=\"_ _c\"> </span>172.2  </span> Market v<span class=\"_ _7\"/>olatility had a positive impact on the Group\u2019<span class=\"_ _9\"/>s defined benefit plans in 2022, whic<span class=\"_ _7\"/>h resulted in a remeasurement gain (gross) of EUR 28.3 million (2021: remeasurement gain of EUR 1<span class=\"_ _3\"/>7<span class=\"_ _d\"/>.5 million), being recorded, net of tax, in other comprehensive income. <span class=\"_ _9\"/>T<span class=\"_ _7\"/>hese remeasurements were caused b<span class=\"_ _7\"/>y the defined benefit obligation impact of deviations from the assumptions set at the beginning of the year<span class=\"_ _9\"/>.  Change in the f<span class=\"_ _3\"/>air v<span class=\"_ _7\"/>alue of plan assets and major classes of plan assets  The f<span class=\"_ _7\"/>ollowing tables summarize the c<span class=\"_ _3\"/>haracteristics/main elements of the plan assets at 31 December<span class=\"_ _3\"/>.   <span class=\"_ _1ba\"> </span><span class=\"fs7 fcd\">T<span class=\"_ _9\"/>otal  </span>  <span class=\"_ _3d\"> </span> in EUR millions  <span class=\"_ _e2\"> </span>2022  <span class=\"_ _51\"> </span>2021Major classes of plan assets   <span class=\"_ _3d\"> </span> Bonds - in<span class=\"_ _7\"/>vestment grade  <span class=\"_ _dc\"> </span><span class=\"ws8e\">44.3  <span class=\"_ _96\"> </span>47<span class=\"_ _1\"/>.9  </span>Bonds - high yield  <span class=\"_ _209\"> </span><span class=\"ws8e\">20.5  <span class=\"_ _3f\"> </span>26.6  </span>Equity instruments  <span class=\"_ _221\"> </span><span class=\"ws8e\">56.7  <span class=\"_ _108\"> </span>64.2  </span>Commodities (gold)  <span class=\"_ _23a\"> </span><span class=\"ws8e\">0.9  <span class=\"_ _86\"> </span>\u2013  </span>F<span class=\"_ _7\"/>air value of plan assets at 31 December  <span class=\"_ _5c\"> </span><span class=\"fc0 wsb\">122.4  <span class=\"_ _1b2\"> </span><span class=\"fcb\">138.7  </span></span> The in<span class=\"_ _7\"/>vestments consist of participations in in<span class=\"_ _7\"/>vestment funds from reputable asset managers and are therefore w<span class=\"_ _7\"/>ell-diversified, suc<span class=\"_ _3\"/>h that the failure of an<span class=\"_ _7\"/>y single inv<span class=\"_ _7\"/>estment would not ha<span class=\"_ _7\"/>ve a material impact on the o<span class=\"_ _7\"/>verall v<span class=\"_ _7\"/>alue of the inv<span class=\"_ _7\"/>estment fund.  The pension fund has not in<span class=\"_ _7\"/>vested directly in shares of R<span class=\"_ _7\"/>oy<span class=\"_ _7\"/>al <span class=\"_ _3\"/>V<span class=\"_ _3\"/>opak, parts of the Group or in real estate of the Group.  Expected mat<span class=\"_ _7\"/>ur<span class=\"_ _7\"/>ity<span class=\"_ _9\"/>, contr<span class=\"_ _3\"/>ibution and impact on result  The e<span class=\"_ _7\"/>xpected maturity analysis of undiscounted pension benefits at 31 December 2022 is as follo<span class=\"_ _7\"/>ws:   In EUR millions  2023  <span class=\"_ _9d\"> </span>2024  <span class=\"_ _9d\"> </span>2025  <span class=\"_ _9d\"> </span>2026  <span class=\"_ _9d\"> </span>2027  <span class=\"_ _10\"> </span>2028+  <span class=\"_ _1a\"> </span><span class=\"fc0\">T<span class=\"_ _8\"/>otal  </span>Undiscounted pension benefits  <span class=\"_ _c3\"> </span><span class=\"ws8e\">6.1  <span class=\"_ _ce\"> </span>6.7  <span class=\"_ _c2\"> </span>7<span class=\"_ _1\"/>.5  <span class=\"_ _20\"> </span>7<span class=\"_ _1\"/>.2  <span class=\"_ _c2\"> </span>7<span class=\"_ _d\"/>.5  <span class=\"_ _21c\"> </span>256.0  <span class=\"_ _9d\"> </span>291<span class=\"_ _9\"/>.0  </span> Based on the latest funding agreements, the emplo<span class=\"_ _7\"/>yer\u2019<span class=\"_ _9\"/>s contribution is expected to be around EUR 7<span class=\"_ _d\"/>.2 million in 2023.  Assumptions and sensitivity analysis  Assumptions   <span class=\"_ _1ba\"> </span><span class=\"fs7 fcd\">T<span class=\"_ _9\"/>otal  </span>  <span class=\"_ _3d\"> </span>  <span class=\"_ _3b\"> </span><span class=\"fs7 fc0 wsb\">2022  <span class=\"_ _51\"> </span><span class=\"fc7\">2021  </span></span>Assumptions based on weight<span class=\"_ _7\"/>ed aver<span class=\"_ _7\"/>age at 31 December   <span class=\"_ _3d\"> </span> Discount rate on net liability  <span class=\"_ _2d1\"> </span><span class=\"ws8e\">5.1<span class=\"_ _9\"/>1%  <span class=\"_ _53\"> </span>2.62%  </span>Expected general salar<span class=\"_ _5\"/>y increase  <span class=\"_ _169\"> </span><span class=\"ws8e\">5.08%  <span class=\"_ _53\"> </span>5.03%  </span>Expected price index increase  <span class=\"_ _25d\"> </span><span class=\"ws8e\">2.88%  <span class=\"_ _190\"> </span>2.81%  </span>A<span class=\"_ _3\"/>verage Life e<span class=\"_ _7\"/>xpectancy in years for man aged 65 no<span class=\"_ _7\"/>w:  <span class=\"_ _2c\"> </span><span class=\"ws8e\">20.6  <span class=\"_ _3f\"> </span>20.4  </span>A<span class=\"_ _3\"/>verage Life e<span class=\"_ _7\"/>xpectancy in years for w<span class=\"_ _7\"/>omen aged 65 now:  <span class=\"_ _2e3\"> </span><span class=\"ws8e\">22.8  <span class=\"_ _3f\"> </span>22.7  </span> The discount rates used in the determination of defined benefit obligations and pension expenses are based on high quality corporate bonds (AA) with a duration matc<span class=\"_ _3\"/>hing the duration of the pension liabilities. In addition, the calculations were based on recent mortality tables, t<span class=\"_ _5\"/>aking future de<span class=\"_ _7\"/>velopments in mortality rates into account through projections or surpluses. Local historical data were used f<span class=\"_ _7\"/>or employ<span class=\"_ _7\"/>ee turno<span class=\"_ _7\"/>ver and disability assumptions. <span class=\"_ _3\"/> The liabilities and pension e<span class=\"_ _7\"/>xpenses related to defined benefit plans are subject to risks regarding c<span class=\"_ _3\"/>hanges in discount rates, plan assets and returns derived from these assets, future salary increases, inflation and life e<span class=\"_ _7\"/>xpectancy<span class=\"_ _3\"/>. Suc<span class=\"_ _7\"/>h c<span class=\"_ _7\"/>hanges can negatively or positively influence the liabilities and necessitate additional future pension c<span class=\"_ _3\"/>harges under IAS 1<span class=\"_ _3\"/>9. <span class=\"_ _8\"/>The table below shows the estimated impact on the defined benefit obligations f<span class=\"_ _7\"/>or defined benefit plans for eac<span class=\"_ _3\"/>h risk variable.  Sensitivity analysis  In EUR millions  Change  <span class=\"_ _10\"> </span><span class=\"fc0\">Incr<span class=\"_ _7\"/>ease  <span class=\"_ _10a\"> </span><span class=\"fc7\">Decrease  </span></span>Sensitivity assumptions   <span class=\"_ _7c\"> </span> <span class=\"_ _7c\"> </span> Price inflation  <span class=\"_ _2a1\"> </span><span class=\"ws8e\">1<span class=\"_ _9\"/>.0%  <span class=\"_ _d0\"> </span>3.9  <span class=\"_ _1b1\"> </span>- <span class=\"_ _23\"> </span>3.4  </span>Salar<span class=\"_ _5\"/>y growth  <span class=\"_ _2e4\"> </span><span class=\"ws8e\">0.25%  <span class=\"_ _a5\"> </span>1<span class=\"_ _9\"/>.1  <span class=\"_ _d9\"> </span>- <span class=\"_ _c\"> </span>1<span class=\"_ _9\"/>.0  </span>Discount rates  <span class=\"_ _21f\"> </span><span class=\"ws8e\">1<span class=\"_ _8\"/>.0%  <span class=\"_ _22b\"> </span>- <span class=\"_ _c\"> </span>1<span class=\"_ _7\"/>4.6  <span class=\"_ _140\"> </span>18.0  </span>Lif<span class=\"_ _7\"/>e expectation  <span class=\"_ _257\"> </span><span class=\"ws8e\">1 <span class=\"_ _0\"> </span>year  <span class=\"_ _d4\"> </span>3.3  <span class=\"_ _19b\"> </span>n/a  </span> The sensitivity analysis is based on c<span class=\"_ _3\"/>hanges that are realistically possible as at the end of the financial year<span class=\"_ _9\"/>. Eac<span class=\"_ _7\"/>h c<span class=\"_ _3\"/>hange in a significant actuarial assumption was analyz<span class=\"_ _7\"/>ed separately as part of the test. Interdependencies were not taken into account.  Note 9.5 Pr<span class=\"_ _3\"/>ovisions   A<span class=\"_ _1e\"> </span><span class=\"ff3 fs9\">Accounting policies  </span>Pro<span class=\"_ _7\"/>visions are recognized f<span class=\"_ _7\"/>or legal or constructiv<span class=\"_ _7\"/>e obligations that arose from past ev<span class=\"_ _7\"/>ents, the amount of whic<span class=\"_ _3\"/>h, though uncert<span class=\"_ _5\"/>ain, can be reliably estimated and where it is probable that the set<span class=\"_ _3\"/>tlement of the obligations will ent<span class=\"_ _5\"/>ail a cash outflow<span class=\"_ _9\"/>. Provisions are measured at the present value of the e<span class=\"_ _7\"/>xpenditures e<span class=\"_ _7\"/>xpected to be required to set<span class=\"_ _3\"/>tle the obligation using a pre-tax rate that reflects current market assessments of the time v<span class=\"_ _7\"/>alue of money and the risks specific to the obligation. <span class=\"_ _9\"/>T<span class=\"_ _7\"/>he increase in the provision due to the passage of time is recognized as interest e<span class=\"_ _7\"/>xpense.   In accordance with current legislation, en<span class=\"_ _7\"/>vironment<span class=\"_ _5\"/>al plans and other measures to be adopted are agreed with local, regional and national authorities as appropriate. A<span class=\"_ _7\"/>s soon as suc<span class=\"_ _3\"/>h plans are approved or other statutory obligations arise, a provision is formed based on the most reliable estimate possible of the future e<span class=\"_ _7\"/>xpenses.   A provision f<span class=\"_ _7\"/>or reorganization is recognized when <span class=\"_ _9\"/>V<span class=\"_ _3\"/>opak has approv<span class=\"_ _7\"/>ed a det<span class=\"_ _5\"/>ailed and formaliz<span class=\"_ _7\"/>ed reorganization plan and when the reorganization has either commenced or been announced.  A number of sites hav<span class=\"_ _7\"/>e to be restored to their original condition before being handed bac<span class=\"_ _3\"/>k at the end of the contractual period. If and when it is probable that a site will be decommissioned a provision is f<span class=\"_ _7\"/>ormed based on the most reliable estimate possible of future e<span class=\"_ _7\"/>xpenses.  Pro<span class=\"_ _7\"/>visions for other def<span class=\"_ _3\"/>erred long-term employ<span class=\"_ _7\"/>ee benefits, other than pensions and other employ<span class=\"_ _7\"/>ee benefits, for e<span class=\"_ _7\"/>xample, redundancy benefits, anniversary incentives and long-term remuneration set<span class=\"_ _3\"/>tled in cash, are calculated using the method for defined benefit plans. An<span class=\"_ _7\"/>y actuarial results arising are recogniz<span class=\"_ _7\"/>ed immediately in the statement of income. <span class=\"_ _9\"/>The same applies to any c<span class=\"_ _3\"/>hanges relating to past ser<span class=\"_ _5\"/>vice.  Ke<span class=\"_ _7\"/>y accounting estimates and judgments  The amount recogniz<span class=\"_ _7\"/>ed as a provision is management\u2019<span class=\"_ _9\"/>s best estimate of the amount required to set<span class=\"_ _7\"/>tle the obligation. <span class=\"_ _9\"/>The outcome depends on fut<span class=\"_ _7\"/>ure ev<span class=\"_ _7\"/>ents that are uncertain by nature. In assessing the likely outcome of la<span class=\"_ _7\"/>wsuits and tax disputes, management also bases its assessment on external legal assistance and established precedents.    The Group is e<span class=\"_ _7\"/>xposed to risks regarding environmental obligations arising from past activities. For example, a number of sites ha<span class=\"_ _7\"/>ve to be decontaminated before being handed bac<span class=\"_ _3\"/>k at the end of the contractual period. Under cur<span class=\"_ _7\"/>rent legislation, environmental plans and any other measures to be adopted hav<span class=\"_ _7\"/>e to be agreed with local, regional and national authorities as appropriate. As soon as suc<span class=\"_ _7\"/>h plans hav<span class=\"_ _7\"/>e been approv<span class=\"_ _7\"/>ed or other legal obligations arose, a provision is formed based on the most reliable estimate of possible future e<span class=\"_ _7\"/>xpenses. Given the degree of comple<span class=\"_ _7\"/>xit<span class=\"_ _5\"/>y and uncertaint<span class=\"_ _5\"/>y in making suc<span class=\"_ _3\"/>h estimates, this does not guarantee that no additional costs will arise in the future.  Mov<span class=\"_ _3\"/>ements in pro<span class=\"_ _7\"/>visions  In EUR millions  <span class=\"_ _139\"> </span>Envir<span class=\"_ _7\"/>onmental <span class=\"_ _23\"> </span>liabilities  <span class=\"_ _38\"> </span>Other  <span class=\"_ _22b\"> </span>T<span class=\"_ _9\"/>otalNon-current liabilities  <span class=\"_ _3e\"> </span><span class=\"ws8e\">1<span class=\"_ _7\"/>0.9  <span class=\"_ _d4\"> </span>5.9  <span class=\"_ _2e\"> </span>1<span class=\"_ _7\"/>6.8  </span>Current liabilities  <span class=\"_ _2e5\"> </span><span class=\"ws8e\">6.2  <span class=\"_ _140\"> </span>1<span class=\"_ _7\"/>8.1  <span class=\"_ _c9\"> </span>24.3  </span>Balance at 31 December 2021  <span class=\"_ _68\"> </span><span class=\"wsb\">17<span class=\"_ _1\"/>.1  <span class=\"_ _ea\"> </span>24.0  <span class=\"_ _ea\"> </span><span class=\"fc0\">41.1  </span></span>Mov<span class=\"_ _7\"/>ements:  <span class=\"_ _12a\"> </span><span class=\"fs11 fc3\"> <span class=\"_ _7c\"> </span> <span class=\"_ _7c\"> </span> </span>Additions  <span class=\"_ _207\"> </span><span class=\"ws8e\">1<span class=\"_ _9\"/>1<span class=\"_ _9\"/>.5  <span class=\"_ _11e\"> </span>7<span class=\"_ _1\"/>.0  <span class=\"_ _140\"> </span>1<span class=\"_ _7\"/>8.5  </span>Withdrawals  <span class=\"_ _2d9\"> </span><span class=\"ws8e\">- <span class=\"_ _23\"> </span>3.3  <span class=\"_ _bd\"> </span>- <span class=\"_ _c\"> </span>12.0  <span class=\"_ _bd\"> </span>- <span class=\"_ _c\"> </span>15.3  </span>Releases  <span class=\"_ _129\"> </span><span class=\"ws8e\">\u2013  <span class=\"_ _d4\"> </span>0.2  <span class=\"_ _d0\"> </span>0.2  </span>Exc<span class=\"_ _3\"/>hange diff<span class=\"_ _3\"/>erences  <span class=\"_ _175\"> </span><span class=\"ws8e\">0.2  <span class=\"_ _d4\"> </span>0.1  <span class=\"_ _d0\"> </span>0.3  </span>Balance at 31 December 2022  <span class=\"_ _2e6\"> </span><span class=\"wsb\">25.5  <span class=\"_ _ea\"> </span>19.3  <span class=\"_ _d2\"> </span><span class=\"fc0\">44.8  </span></span> <span class=\"_ _25e\"> </span> <span class=\"_ _7c\"> </span> <span class=\"_ _7c\"> </span> Non-current liabilities  <span class=\"_ _56\"> </span><span class=\"ws8e\">21<span class=\"_ _9\"/>.2  <span class=\"_ _d4\"> </span>5.4  <span class=\"_ _c9\"> </span>26.6  </span>Current liabilities  <span class=\"_ _2e5\"> </span><span class=\"ws8e\">4.3  <span class=\"_ _140\"> </span>1<span class=\"_ _7\"/>3.9  <span class=\"_ _140\"> </span>18.2  </span>Balance at 31 December 2022  <span class=\"_ _2e6\"> </span><span class=\"wsb\">25.5  <span class=\"_ _ea\"> </span>19.3  <span class=\"_ _d2\"> </span><span class=\"fc0\">44.8  </span></span> <span class=\"_ _25e\"> </span> <span class=\"_ _7c\"> </span> <span class=\"_ _7c\"> </span> Expected withdr<span class=\"_ _7\"/>awals  <span class=\"_ _2b1\"> </span><span class=\"fs11 fc3\"> <span class=\"_ _7c\"> </span> <span class=\"_ _46\"> </span> </span>&lt; 1 year  <span class=\"_ _14e\"> </span>4.3  <span class=\"_ _140\"> </span>1<span class=\"_ _7\"/>3.9  <span class=\"_ _140\"> </span>18.22nd year  <span class=\"_ _5b\"> </span><span class=\"ws8e\">5.9  <span class=\"_ _d0\"> </span>2.4  <span class=\"_ _d4\"> </span>8.3  </span>3rd year  <span class=\"_ _248\"> </span><span class=\"ws8e\">2.6  <span class=\"_ _d4\"> </span>0.3  <span class=\"_ _d0\"> </span>2.9  </span>4th year  <span class=\"_ _248\"> </span><span class=\"ws8e\">2.0  <span class=\"_ _d4\"> </span>0.5  <span class=\"_ _d0\"> </span>2.5  </span>5th year  <span class=\"_ _223\"> </span><span class=\"ws8e\">1<span class=\"_ _8\"/>.4  <span class=\"_ _d0\"> </span>0.2  <span class=\"_ _118\"> </span>1<span class=\"_ _9\"/>.6  </span>&gt; 5th year  <span class=\"_ _2e7\"> </span>9.3  <span class=\"_ _d4\"> </span>2.0  <span class=\"_ _159\"> </span>1<span class=\"_ _3\"/>1<span class=\"_ _9\"/>.3T<span class=\"_ _8\"/>otal  <span class=\"_ _242\"> </span><span class=\"wsb\">25.5  <span class=\"_ _ea\"> </span>19.3  <span class=\"_ _ea\"> </span><span class=\"fc0\">44.8  </span></span>Envir<span class=\"_ _3\"/>onmental provisions  V<span class=\"_ _3\"/>opak is obliged to clean up soil contamination at diff<span class=\"_ _3\"/>erent locations. In general, an accurate and reliable estimate of the provision f<span class=\"_ _7\"/>or this environmental risk can only be made af<span class=\"_ _3\"/>ter conducting a thorough sur<span class=\"_ _5\"/>ve<span class=\"_ _7\"/>y and drawing up a management plan f<span class=\"_ _7\"/>or the site, on the basis of whic<span class=\"_ _3\"/>h the governmental authorities issue an order<span class=\"_ _3\"/>. <span class=\"_ _9\"/>T<span class=\"_ _7\"/>he expected timing of the fut<span class=\"_ _7\"/>ure cash outflows is reflected in the e<span class=\"_ _7\"/>xpected withdraw<span class=\"_ _7\"/>als, how<span class=\"_ _7\"/>ev<span class=\"_ _7\"/>er the timing of when the soil remediation will occur remains uncertain.   The en<span class=\"_ _7\"/>vironmental provisions primarily relate to historical contaminations. Financial exposures to potential new soil contaminations in relation to products spills are very limited. If a spill or<span class=\"_ _5\"/> any un<span class=\"_ _7\"/>wanted disc<span class=\"_ _3\"/>harge takes place, emergency mitigation procedures are in place at all the terminals whic<span class=\"_ _3\"/>h cont<span class=\"_ _5\"/>ain and remediate the spill immediately<span class=\"_ _3\"/>, according to the <span class=\"_ _3\"/>V<span class=\"_ _3\"/>opak standards.<span class=\"_ _5\"/> <span class=\"_ _2\"/> <span class=\"_ _2\"/> At year<span class=\"_ _9\"/>-end 2022, the total provision f<span class=\"_ _7\"/>or environmental liabilities amounted to EUR 25.5 million (2021: EUR 1<span class=\"_ _3\"/>7<span class=\"_ _d\"/>.1 million). <span class=\"_ _9\"/>T<span class=\"_ _7\"/>he provision is mainly related to en<span class=\"_ _7\"/>vironment<span class=\"_ _5\"/>al liabilities at various terminals in the divisions Europe &amp; <span class=\"_ _7\"/>Africa and Americas. During 2022, additions for an amount of EUR 1<span class=\"_ _8\"/>1<span class=\"_ _8\"/>.5 million (2021: EUR 5.0 million) million have been recorded.   Other pro<span class=\"_ _3\"/>visions  The other pro<span class=\"_ _7\"/>visions primarily relate to legal and claims-related provisions and the pro<span class=\"_ _7\"/>visions for the L<span class=\"_ _9\"/>TIPs. Man<span class=\"_ _7\"/>y of the claims-related provisions concern insured ev<span class=\"_ _3\"/>ents, for whic<span class=\"_ _7\"/>h the receivable on the insurance compan<span class=\"_ _7\"/>y is recognized separately under the Other receiv<span class=\"_ _7\"/>ables.  L<span class=\"_ _9\"/>TIPs  Other provisions included an amount of EUR 0.7 million (2021: EUR 2.7 million) f<span class=\"_ _7\"/>or the L<span class=\"_ _9\"/>TCPs (see note 7<span class=\"_ _d\"/>.2), and none for the cash-set<span class=\"_ _3\"/>tled share-based payments of the L<span class=\"_ _9\"/>TSPs in 2022 and 2021 (see note 1 to the first table of note 7<span class=\"_ _d\"/>.2). EUR 0.4 million of the tot<span class=\"_ _5\"/>al provision in relation to the L<span class=\"_ _9\"/>TIPs will be set<span class=\"_ _7\"/>tled in 2023 (2021: EUR 2.3 million).    The mo<span class=\"_ _7\"/>vement in the pro<span class=\"_ _7\"/>visions in connection with the L<span class=\"_ _9\"/>TIPs recognized in the income statement amounted to an expense of EUR 0.7 million in 2022 (2021: expense of EUR 0.7 million). Ref<span class=\"_ _3\"/>erence is also made to note 7<span class=\"_ _d\"/>.2.  Other  At year<span class=\"_ _9\"/>-end 2022, EUR 1<span class=\"_ _3\"/>8.6 million (2021: EUR 21<span class=\"_ _9\"/>.3 million) w<span class=\"_ _7\"/>as recognized under the Other provisions, whic<span class=\"_ _3\"/>h primarily comprises various smaller legal cases and claim set<span class=\"_ _3\"/>tlements of whic<span class=\"_ _3\"/>h the larger part was related to insured ev<span class=\"_ _7\"/>ents. <span class=\"_ _9\"/>T<span class=\"_ _7\"/>he movement in these other provisions amounted to an e<span class=\"_ _7\"/>xpense of EUR 6.3 million in 2022 (2021: EUR 5.3 million).   No other individual items within the remaining provisions are considered to be individually material. <span class=\"_ _9\"/>T<span class=\"_ _7\"/>he company e<span class=\"_ _7\"/>xpects that the current cases provided f<span class=\"_ _7\"/>or will be substantively resolved within the coming fiv<span class=\"_ _7\"/>e years.  Note 9.6 In<span class=\"_ _3\"/>vestments and other financial assets  The group has in<span class=\"_ _7\"/>vestments in the equity of other entities whic<span class=\"_ _3\"/>h do not classify as either a subsidiar<span class=\"_ _5\"/>y<span class=\"_ _3\"/>, joint vent<span class=\"_ _3\"/>ure or associate. <span class=\"_ _9\"/>These in<span class=\"_ _7\"/>vestments primarily concern the inv<span class=\"_ _7\"/>estments in Sabtank in Saudi Arabia, <span class=\"_ _9\"/>V<span class=\"_ _3\"/>opak <span class=\"_ _9\"/>T<span class=\"_ _9\"/>erminal <span class=\"_ _9\"/>V<span class=\"_ _3\"/>enezuela and the investments held b<span class=\"_ _7\"/>y <span class=\"_ _3\"/>V<span class=\"_ _3\"/>opak V<span class=\"_ _3\"/>entures B<span class=\"_ _3\"/>.V<span class=\"_ _9\"/>. <span class=\"_ _8\"/>These inv<span class=\"_ _7\"/>estments in unlisted entities are not held for trading and are considered to be strategic inv<span class=\"_ _7\"/>estments.  A<span class=\"_ _1e\"> </span><span class=\"ff3 fs9\">Accounting policies  </span>The group mak<span class=\"_ _7\"/>es an irrev<span class=\"_ _3\"/>ocable election on an investment-b<span class=\"_ _7\"/>y-in<span class=\"_ _7\"/>vestment basis at the time of initial recognition to measure these inv<span class=\"_ _7\"/>estments either as:  \u2022 <span class=\"_ _19f\"> </span><span class=\"fc1\">Fair v<span class=\"_ _7\"/>alue through profit and loss (FVPL); or  </span>\u2022 <span class=\"_ _19f\"> </span><span class=\"fc1\">Fair v<span class=\"_ _7\"/>alue through Other comprehensive income (FV<span class=\"_ _3\"/>OCI).  </span>Inv<span class=\"_ _7\"/>estments and other financial assets are measured at fair v<span class=\"_ _7\"/>alue (lev<span class=\"_ _7\"/>el 3). At initial recognition, the Group measures a financial asset at its fair v<span class=\"_ _7\"/>alue. <span class=\"_ _9\"/>T<span class=\"_ _8\"/>ransaction costs of financial assets measured at FVPL are expensed in profit or loss, while these are recogniz<span class=\"_ _7\"/>ed in Other comprehensive income f<span class=\"_ _7\"/>or financial assets measured at FV<span class=\"_ _3\"/>OCI.  The Group subsequently measures all equity inv<span class=\"_ _7\"/>estments at fair v<span class=\"_ _7\"/>alue. <span class=\"_ _3\"/>Where the group\u2019<span class=\"_ _9\"/>s management has elected to present fair v<span class=\"_ _7\"/>alue gains and losses on equity investments in OCI, there is no subsequent reclassification of fair v<span class=\"_ _7\"/>alue gains and losses to profit or loss follo<span class=\"_ _7\"/>wing the derecognition of the inv<span class=\"_ _7\"/>estment. Dividends from suc<span class=\"_ _7\"/>h inv<span class=\"_ _7\"/>estments continue to be recognized in profit or loss as dividend income as part of the Other operating income. Ref<span class=\"_ _3\"/>erence is also made to note 2.4.  At year<span class=\"_ _9\"/>-end 2022, all equity inv<span class=\"_ _7\"/>estments are classified as FV<span class=\"_ _3\"/>OCI.  The total fair v<span class=\"_ _7\"/>alue of the inv<span class=\"_ _7\"/>estments amounted to EUR 94.0 million (2021: EUR 83.6 million) at year<span class=\"_ _9\"/>-end 2022. <span class=\"_ _8\"/>The total dividend income in 2022 from these inv<span class=\"_ _7\"/>estments amounted to EUR 3.0 million (2021: EUR 0.5 million).  Note 9.7 In<span class=\"_ _3\"/>vestment commitments undertak<span class=\"_ _3\"/>en  The in<span class=\"_ _7\"/>vestment commitments undertaken b<span class=\"_ _7\"/>y the Group for subsidiaries amounted to EUR 1<span class=\"_ _9\"/>1<span class=\"_ _3\"/>3.7 million as at 31 December 2022 (2021: EUR 85.4 million), and were primarily related to property<span class=\"_ _3\"/>, plant and equipment.  Note 9.8 Conting<span class=\"_ _3\"/>ent assets and contingent liabilities  Contingencies in r<span class=\"_ _3\"/>espect of joint ventur<span class=\"_ _3\"/>es and associates   <span class=\"_ _1a\"> </span><span class=\"fs7 fcd\">Joint v<span class=\"_ _7\"/>entures  <span class=\"_ _bc\"> </span>Associates  <span class=\"_ _96\"> </span>T<span class=\"_ _9\"/>otal  </span>  <span class=\"_ _e6\"> </span> <span class=\"_ _7e\"> </span> <span class=\"_ _131\"> </span> <span class=\"_ _7e\"> </span> <span class=\"_ _4f\"> </span> 31<span class=\"_ _3\"/>-Dec-31<span class=\"_ _3\"/>-Dec-31<span class=\"_ _3\"/>-Dec-31<span class=\"_ _3\"/>-Dec-31<span class=\"_ _3\"/>-Dec-31<span class=\"_ _3\"/>-Dec-In EUR millions  2022  2021  2022  2021  2022  2021  Commitments to provide debt or equity funding  <span class=\"_ _15f\"> </span><span class=\"ws8e\">20.8  <span class=\"_ _b0\"> </span>1<span class=\"_ _7\"/>6.1  <span class=\"_ _55\"> </span>\u2013  <span class=\"_ _55\"> </span>\u2013  <span class=\"_ _fb\"> </span>20.8  <span class=\"_ _b0\"> </span>1<span class=\"_ _7\"/>6.1  </span>Guarantees and securities provided  <span class=\"_ _195\"> </span>1<span class=\"_ _3\"/>05.1 <span class=\"_ _bd\"> </span>98.7  <span class=\"_ _93\"> </span>7<span class=\"_ _8\"/>.0  <span class=\"_ _1b1\"> </span>1<span class=\"_ _9\"/>1<span class=\"_ _9\"/>.4  <span class=\"_ _ce\"> </span><span class=\"ws3\">1<span class=\"_ _9\"/>12.1 <span class=\"_ _156\"> </span><span class=\"ws8e\">1<span class=\"_ _9\"/>1<span class=\"_ _3\"/>0.1  </span></span> The amounts of guarantees and securities can potentially be called within one y<span class=\"_ _7\"/>ear<span class=\"_ _3\"/>.   The joint v<span class=\"_ _7\"/>enture and associates of the Group are cur<span class=\"_ _7\"/>rently<span class=\"_ _3\"/>, and may from time to time become, inv<span class=\"_ _7\"/>olved in a number of legal proceedings, including inquiries from, or discussions with, gov<span class=\"_ _7\"/>ernmental authorities (including t<span class=\"_ _5\"/>ax authorities) that are incidental to their operations. F<span class=\"_ _7\"/>or the contingent liabilities of the joint vent<span class=\"_ _7\"/>ures and associates as at year<span class=\"_ _9\"/>-end related to legal cases, it is based on the current f<span class=\"_ _7\"/>acts and circumst<span class=\"_ _5\"/>ances not believ<span class=\"_ _3\"/>ed that they ma<span class=\"_ _7\"/>y hav<span class=\"_ _7\"/>e a material adverse ef<span class=\"_ _3\"/>fect on the financial position or profitability of the Group. Due to inherent uncertainties, the Group cannot make any accurate quantification of an<span class=\"_ _7\"/>y cost, or timing of suc<span class=\"_ _3\"/>h cost, which ma<span class=\"_ _3\"/>y arise from any of the legal proceedings ref<span class=\"_ _7\"/>erred to in this report, how<span class=\"_ _7\"/>ev<span class=\"_ _7\"/>er costs in complex litigation ma<span class=\"_ _7\"/>y be subst<span class=\"_ _5\"/>antial.  Guarant<span class=\"_ _7\"/>ees and secur<span class=\"_ _7\"/>ities included in ratio calculations  The notional amount of guarantees and securities pro<span class=\"_ _7\"/>vided on behalf of participating interests in joint vent<span class=\"_ _7\"/>ures and associates, whic<span class=\"_ _3\"/>h is also included in ratios, increased from EUR 85.8 million at 31 December 2021 to EUR 89.4 million at 31 December 2022. In both years there w<span class=\"_ _7\"/>ere no amounts recognized in the statement of financial position. Ref<span class=\"_ _3\"/>erence is also made to note 5.5.  Other contingencies  Envir<span class=\"_ _7\"/>onmental and mak<span class=\"_ _7\"/>e good oblig<span class=\"_ _7\"/>ations  The Group is e<span class=\"_ _7\"/>xposed to risks regarding environmental and make good obligations arising from past activities. F<span class=\"_ _7\"/>or example, a number of sites ha<span class=\"_ _7\"/>ve to be decontaminated and restored to their original condition before being handed bac<span class=\"_ _3\"/>k at the end of the contractual period. Under current legislation, en<span class=\"_ _7\"/>vironment<span class=\"_ _5\"/>al plans and any other measures to be adopted ha<span class=\"_ _3\"/>ve to be agreed with local, regional and national authorities as appropriate. A<span class=\"_ _7\"/>s soon as suc<span class=\"_ _3\"/>h plans are approv<span class=\"_ _7\"/>ed or other legal obligations arise, a provision is f<span class=\"_ _7\"/>ormed based on the most reliable estimate possible of future e<span class=\"_ _7\"/>xpenses. <span class=\"_ _8\"/>The Executiv<span class=\"_ _7\"/>e Board is of the opinion that the currently recogniz<span class=\"_ _7\"/>ed provisions are adequate, based on information cur<span class=\"_ _7\"/>rently av<span class=\"_ _7\"/>ailable. How<span class=\"_ _7\"/>ev<span class=\"_ _7\"/>er<span class=\"_ _3\"/>, given the degree of dif<span class=\"_ _3\"/>ficult<span class=\"_ _5\"/>y in making estimates, this does not guarantee that no additional costs will arise going for<span class=\"_ _5\"/>ward.  Other legal pr<span class=\"_ _7\"/>oceedings and r<span class=\"_ _7\"/>isks  As a result of its da<span class=\"_ _7\"/>y-to-da<span class=\"_ _7\"/>y activities, the Group is inv<span class=\"_ _7\"/>olved in a number of other legal proceedings. <span class=\"_ _9\"/>T<span class=\"_ _7\"/>he Executiv<span class=\"_ _7\"/>e Board is of the opinion that f<span class=\"_ _7\"/>or the legal cases and risks for whic<span class=\"_ _3\"/>h no provisions hav<span class=\"_ _7\"/>e been recognized, it is not probable at y<span class=\"_ _7\"/>ear<span class=\"_ _9\"/>-end that the final outcome will result in a cash outflow<span class=\"_ _9\"/>, therefore no pro<span class=\"_ _7\"/>visions have been f<span class=\"_ _3\"/>ormed. F<span class=\"_ _3\"/>urthermore, as explained in the Risks and risk management section, the Group can be held liable for an<span class=\"_ _7\"/>y non-compliance with laws and regulations. <span class=\"_ _8\"/>The risks in connection with non-compliance, as well as the potential impact on the compan<span class=\"_ _7\"/>y<span class=\"_ _3\"/>, are disclosed in the Internal control and risk management section of this report.  As part of div<span class=\"_ _7\"/>estments of terminals and assets, <span class=\"_ _3\"/>V<span class=\"_ _3\"/>opak has provided certain customar<span class=\"_ _5\"/>y representations and warranties in the rele<span class=\"_ _7\"/>vant sales purc<span class=\"_ _3\"/>hase agreements. <span class=\"_ _9\"/>These representations and warranties will generally terminate, depending on their specific f<span class=\"_ _3\"/>eatures, a number of years af<span class=\"_ _3\"/>ter the relev<span class=\"_ _7\"/>ant transaction completion date. Based on the current f<span class=\"_ _7\"/>acts and circumstances, management has determined that for the items for whic<span class=\"_ _3\"/>h no provision is currently recogniz<span class=\"_ _7\"/>ed, the likelihood of a cash outflow relating to these items is considered to be remote.  Note 9.9 Financial assets and liabilities and cr<span class=\"_ _3\"/>edit r<span class=\"_ _7\"/>isk  Financial assets and liabilities   <span class=\"_ _e6\"> </span> <span class=\"_ _232\"> </span><span class=\"fs7 fcd\">Car<span class=\"_ _7\"/>rying amount  <span class=\"_ _c9\"> </span>Fair v<span class=\"_ _3\"/>alue  </span> In EUR millions  <span class=\"_ _102\"> </span>Note  <span class=\"_ _76\"> </span>2022  <span class=\"_ _ce\"> </span><span class=\"fc7\">2021  <span class=\"_ _76\"> </span></span>2022  <span class=\"_ _ce\"> </span>2021Other financial assets  <span class=\"_ _2b\"> </span><span class=\"ff3 fc13 ws8e\">9.6  <span class=\"_ _140\"> </span></span><span class=\"ws8e\">94.0  <span class=\"_ _fb\"> </span>83.6  <span class=\"_ _fb\"> </span>94.0  <span class=\"_ _fb\"> </span>83.6  </span>Currency derivativ<span class=\"_ _7\"/>es  <span class=\"_ _195\"> </span><span class=\"ff3 fc13 ws8e\">6.2  <span class=\"_ _159\"> </span></span><span class=\"ws8e\">67<span class=\"_ _1\"/>.4  <span class=\"_ _fb\"> </span>36.0  <span class=\"_ _f\"> </span>67<span class=\"_ _1\"/>.4  <span class=\"_ _fb\"> </span>36.0  </span>Financial instr<span class=\"_ _7\"/>uments at fair v<span class=\"_ _3\"/>alue  <span class=\"_ _3d\"> </span><span class=\"fs11 fc3\"> <span class=\"_ _156\"> </span></span>161.4  <span class=\"_ _aa\"> </span><span class=\"fcb\">1<span class=\"_ _9\"/>19.6  <span class=\"_ _156\"> </span><span class=\"fc0\">161<span class=\"_ _7\"/>.4  <span class=\"_ _3a\"> </span><span class=\"fcb\">1<span class=\"_ _9\"/>19.6  </span></span></span> <span class=\"_ _e6\"> </span> <span class=\"_ _e6\"> </span> <span class=\"_ _e6\"> </span> <span class=\"_ _e6\"> </span> <span class=\"_ _e6\"> </span> Loans granted  <span class=\"_ _1a0\"> </span><span class=\"ff3 fc13 ws8e\">9.2  <span class=\"_ _140\"> </span></span><span class=\"ws8e\">45.7  <span class=\"_ _fb\"> </span>45.6  <span class=\"_ _fb\"> </span>45.7  <span class=\"_ _fb\"> </span>45.6  </span>T<span class=\"_ _9\"/>rade and other receivables  <span class=\"_ _1b7\"> </span><span class=\"ff3 fc13 ws8e\">4.2  <span class=\"_ _22b\"> </span></span><span class=\"ws8e\">318.5  <span class=\"_ _3a\"> </span>259.6  <span class=\"_ _39\"> </span>318.5  <span class=\"_ _3a\"> </span>259.6  </span>Cash and cash equivalents  <span class=\"_ _98\"> </span><span class=\"ff3 fc13 ws8e\">5.5  <span class=\"_ _c9\"> </span></span><span class=\"ws8e\">33.8  <span class=\"_ _fb\"> </span>73.4  <span class=\"_ _fb\"> </span>33.8  <span class=\"_ _fb\"> </span>73.4  </span>Finance lease receivable  <span class=\"_ _200\"> </span><span class=\"ff3 fc13 ws8e\">9.2  <span class=\"_ _c3\"> </span></span><span class=\"ws8e\">1<span class=\"_ _7\"/>31<span class=\"_ _9\"/>.9  <span class=\"_ _ce\"> </span>1<span class=\"_ _7\"/>31<span class=\"_ _9\"/>.2  <span class=\"_ _a8\"> </span>1<span class=\"_ _3\"/>31<span class=\"_ _9\"/>.9  <span class=\"_ _a8\"> </span>1<span class=\"_ _3\"/>31<span class=\"_ _9\"/>.2  </span>Loans and receiv<span class=\"_ _3\"/>ables   <span class=\"_ _76\"> </span><span class=\"fs7 fcb wsb\">529.9  <span class=\"_ _38\"> </span>509.8  <span class=\"_ _38\"> </span>529.9  <span class=\"_ _155\"> </span>509.8  </span>Bank o<span class=\"_ _7\"/>verdraf<span class=\"_ _3\"/>ts and short-term borrowings <span class=\"_ _9\"/> <span class=\"_ _1b1\"> </span><span class=\"ff3 fc13 ws8e\">5.5  <span class=\"_ _3a\"> </span></span><span class=\"ws8e\">- <span class=\"_ _c\"> </span>277<span class=\"_ _1\"/>.9  <span class=\"_ _16\"> </span>- <span class=\"_ _23\"> </span>464.6  <span class=\"_ _60\"> </span>- <span class=\"_ _c\"> </span>277<span class=\"_ _1\"/>.9  <span class=\"_ _16\"> </span>- <span class=\"_ _23\"> </span>464.6  </span>US Priv<span class=\"_ _7\"/>ate Placements  <span class=\"_ _ab\"> </span><span class=\"ff3 fc13 ws8e\">5.5  <span class=\"_ _142\"> </span></span><span class=\"ws8e\">- <span class=\"_ _c\"> </span>1,50<span class=\"_ _5\"/>0.4  <span class=\"_ _10\"> </span>- <span class=\"_ _23\"> </span>1,428.6  <span class=\"_ _10\"> </span>- <span class=\"_ _23\"> </span>1,528.5  <span class=\"_ _116\"> </span>- <span class=\"_ _23\"> </span>1,61<span class=\"_ _9\"/>1<span class=\"_ _9\"/>.7  </span>JPY Priv<span class=\"_ _7\"/>ate Placement  <span class=\"_ _194\"> </span><span class=\"ff3 fc13 ws8e\">5.5  <span class=\"_ _aa\"> </span></span><span class=\"ws8e\">- <span class=\"_ _23\"> </span>1<span class=\"_ _7\"/>41<span class=\"_ _9\"/>.0  <span class=\"_ _11\"> </span>- <span class=\"_ _0\"> </span>153.5  <span class=\"_ _11\"> </span>- <span class=\"_ _0\"> </span>169.2  <span class=\"_ _b2\"> </span>- <span class=\"_ _23\"> </span>206.1  </span>Bank loans  <span class=\"_ _23e\"> </span><span class=\"ff3 fc13 ws8e\">5.5  <span class=\"_ _155\"> </span></span><span class=\"ws8e\">- <span class=\"_ _c\"> </span>139.6  <span class=\"_ _16\"> </span>- <span class=\"_ _23\"> </span>1<span class=\"_ _7\"/>30.6  <span class=\"_ _60\"> </span>- <span class=\"_ _c\"> </span>1<span class=\"_ _7\"/>41<span class=\"_ _9\"/>.1  <span class=\"_ _11\"> </span>- <span class=\"_ _c\"> </span>1<span class=\"_ _7\"/>32.8  </span>Lease liabilities  <span class=\"_ _62\"> </span><span class=\"ff3 fc13 ws8e\">5.5  <span class=\"_ _22c\"> </span></span><span class=\"ws8e\">- <span class=\"_ _c\"> </span>725.0  <span class=\"_ _ad\"> </span>- <span class=\"_ _c\"> </span>71<span class=\"_ _3\"/>1<span class=\"_ _9\"/>.3  <span class=\"_ _b2\"> </span>- <span class=\"_ _23\"> </span>725.0  <span class=\"_ _ad\"> </span>- <span class=\"_ _c\"> </span>71<span class=\"_ _9\"/>1<span class=\"_ _9\"/>.3  </span>Credit facilities and other long-term loans  <span class=\"_ _19b\"> </span><span class=\"ff3 fc13 ws8e\">5.5  <span class=\"_ _ad\"> </span></span><span class=\"ws8e\">- <span class=\"_ _c\"> </span>30<span class=\"_ _5\"/>0.7  <span class=\"_ _11\"> </span>- <span class=\"_ _c\"> </span>1<span class=\"_ _7\"/>09.9  <span class=\"_ _b2\"> </span>- <span class=\"_ _23\"> </span>300.7  <span class=\"_ _1a2\"> </span>- <span class=\"_ _c\"> </span>1<span class=\"_ _7\"/>09.9  </span>T<span class=\"_ _9\"/>rade creditors  <span class=\"_ _1f7\"> </span><span class=\"ff3 fc13 ws8e\">4.3  <span class=\"_ _c3\"> </span></span><span class=\"ws8e\">- <span class=\"_ _c\"> </span>77<span class=\"_ _1\"/>.1  <span class=\"_ _39\"> </span>- <span class=\"_ _c\"> </span>70.1  <span class=\"_ _a8\"> </span>- <span class=\"_ _23\"> </span>77<span class=\"_ _1\"/>.1  <span class=\"_ _3a\"> </span>- <span class=\"_ _23\"> </span>70.1  </span>Other creditors  <span class=\"_ _62\"> </span><span class=\"ff3 fc13 ws8e\">4.3  <span class=\"_ _bd\"> </span></span><span class=\"ws8e\">- <span class=\"_ _c\"> </span>92.2  <span class=\"_ _60\"> </span>- <span class=\"_ _c\"> </span>1<span class=\"_ _3\"/>1<span class=\"_ _3\"/>0.0  <span class=\"_ _39\"> </span>- <span class=\"_ _0\"> </span>92.2  <span class=\"_ _60\"> </span>- <span class=\"_ _c\"> </span>1<span class=\"_ _3\"/>1<span class=\"_ _3\"/>0.0  </span>Other financial liabilities   <span class=\"_ _10\"> </span><span class=\"fs7 fcb wsb\">- <span class=\"_ _c\"> </span>3,253.9  <span class=\"_ _37\"> </span>- <span class=\"_ _c\"> </span>3,178.6  <span class=\"_ _b\"> </span>- <span class=\"_ _c\"> </span>3,31<span class=\"_ _3\"/>1<span class=\"_ _7\"/>.7  <span class=\"_ _fd\"> </span>- <span class=\"_ _c\"> </span>3,416.5  </span>Net at amortiz<span class=\"_ _7\"/>ed cost   <span class=\"_ _fd\"> </span>- <span class=\"_ _c\"> </span>2,724.0  <span class=\"_ _fd\"> </span><span class=\"fcb\">- <span class=\"_ _23\"> </span>2,668.8  <span class=\"_ _37\"> </span></span>- <span class=\"_ _c\"> </span>2,781.8  <span class=\"_ _fe\"> </span><span class=\"fcb\">- <span class=\"_ _23\"> </span>2,906.7  </span> <span class=\"_ _e6\"> </span> <span class=\"_ _e6\"> </span> <span class=\"_ _e6\"> </span> <span class=\"_ _e6\"> </span> <span class=\"_ _e6\"> </span> Standby credit facility  <span class=\"_ _91\"> </span>5.5,<span class=\"_ _7\"/> <span class=\"_ _c\"> </span>6.7  <span class=\"_ _46\"> </span><span class=\"ff1 fs11 fc3 ws3\"> <span class=\"_ _e6\"> </span> <span class=\"_ _2af\"> </span></span><span class=\"ff1 fc1\">7<span class=\"_ _3\"/>69.8  <span class=\"_ _39\"> </span>956.2  </span>Standby bank facility  <span class=\"_ _af\"> </span><span class=\"ff3 fc13 ws8e\">6.7  </span> <span class=\"_ _e6\"> </span> <span class=\"_ _39\"> </span><span class=\"fs31 fc1 ws8e\">189.0  <span class=\"_ _39\"> </span>1<span class=\"_ _7\"/>33.0  </span>Unrecogniz<span class=\"_ _7\"/>ed financial instr<span class=\"_ _7\"/>uments  <span class=\"_ _180\"> </span><span class=\"fs11 fc3\"> <span class=\"_ _e6\"> </span> <span class=\"_ _e6\"> </span> <span class=\"_ _38\"> </span></span><span class=\"fc0 wsb\">958.8  <span class=\"_ _15b\"> </span><span class=\"fcb\">1,089.2  </span></span>Deter<span class=\"_ _3\"/>mination of f<span class=\"_ _7\"/>air v<span class=\"_ _7\"/>alue for financial instr<span class=\"_ _3\"/>uments  A number of the Group\u2019<span class=\"_ _9\"/>s accounting policies and disclosures require the determination of fair v<span class=\"_ _7\"/>alue for the financial instr<span class=\"_ _7\"/>uments. A f<span class=\"_ _7\"/>air value measurement is an estimate of the price that would be receiv<span class=\"_ _7\"/>ed upon the sale of an asset or paid to transf<span class=\"_ _7\"/>er a liability in an orderly transaction between market participants at the measurement date. <span class=\"_ _9\"/>Where av<span class=\"_ _7\"/>ailable, fair value measurements are deriv<span class=\"_ _7\"/>ed from quoted prices (unadjusted) in active mark<span class=\"_ _7\"/>ets for identical assets or liabilities (lev<span class=\"_ _7\"/>el 1). In the absence of suc<span class=\"_ _3\"/>h information, other obser<span class=\"_ _5\"/>vable inputs, either directly (i.e. as prices) or indirectly (i.e. derived from prices), are used to estimate fair v<span class=\"_ _7\"/>alues (lev<span class=\"_ _7\"/>el 2). No material financial instruments w<span class=\"_ _7\"/>ere measured at fair v<span class=\"_ _7\"/>alue using lev<span class=\"_ _7\"/>el 3 (inputs not based on obser<span class=\"_ _5\"/>vable mark<span class=\"_ _7\"/>et data). Inputs derived from external sources are corroborated or other<span class=\"_ _5\"/>wise verified, as appropriate.   The f<span class=\"_ _7\"/>air values of the P<span class=\"_ _7\"/>rivate Placements, re<span class=\"_ _7\"/>volving credit f<span class=\"_ _7\"/>acilit<span class=\"_ _5\"/>y and other long-term bank loans are measured by discounting the fut<span class=\"_ _7\"/>ure cash flows using observable market interest information (le<span class=\"_ _7\"/>vel 2) as no similar instr<span class=\"_ _7\"/>ument is av<span class=\"_ _7\"/>ailable due to the specific profiles of the instruments. <span class=\"_ _8\"/>The calculations include credit spreads based on the most recent borro<span class=\"_ _7\"/>wing contracts.   The f<span class=\"_ _7\"/>air values of interest rate sw<span class=\"_ _7\"/>aps, cross-currency interest rate swaps and f<span class=\"_ _7\"/>or<span class=\"_ _5\"/>ward foreign ex<span class=\"_ _7\"/>c<span class=\"_ _3\"/>hange contracts are determined by discounting the future cash flo<span class=\"_ _7\"/>ws using the applicable period-end obser<span class=\"_ _5\"/>vable yield curve, taking into account credit risk and the risk of non-performance.   In view of the short-term nat<span class=\"_ _7\"/>ure or the magnitude of the amounts, the Group considers that the fair v<span class=\"_ _7\"/>alue of loans granted, trade and other receivables, cash and cash equiv<span class=\"_ _7\"/>alents, bank ov<span class=\"_ _7\"/>erdraf<span class=\"_ _3\"/>ts, credit facilities, other long-term loans and trade creditors are not materially dif<span class=\"_ _7\"/>f<span class=\"_ _7\"/>erent from their carr<span class=\"_ _5\"/>ying value.  The f<span class=\"_ _7\"/>air value of the Other equity inv<span class=\"_ _7\"/>estments (lev<span class=\"_ _7\"/>el 3) are based on discounted cash flow projections based on reliable estimates of future cash flo<span class=\"_ _7\"/>ws or recent transactions.  The initial measurement at the trade date of all financial instr<span class=\"_ _7\"/>uments is the fair v<span class=\"_ _7\"/>alue. Except for deriv<span class=\"_ _7\"/>atives, the initial measurement of financial instr<span class=\"_ _7\"/>uments is adjusted for directly at<span class=\"_ _3\"/>tribut<span class=\"_ _5\"/>able transaction costs.   Note 9.1<span class=\"_ _9\"/>0 New standards and int<span class=\"_ _7\"/>er<span class=\"_ _3\"/>pretations not y<span class=\"_ _7\"/>et implemented  There are no ne<span class=\"_ _7\"/>w accounting standards, amendments to existing standards or new IFRIC interpretations published that are not yet ef<span class=\"_ _7\"/>f<span class=\"_ _7\"/>ective that are e<span class=\"_ _7\"/>xpected to hav<span class=\"_ _7\"/>e a material impact on the Group in future reporting periods and on f<span class=\"_ _7\"/>oreseeable future transactions, including:     - IFRS 1<span class=\"_ _9\"/>7 Insurance Contracts and amendments to IFRS 1<span class=\"_ _3\"/>7 Insurance Contracts   - Disclosure of A<span class=\"_ _7\"/>ccounting P<span class=\"_ _3\"/>olicies (Amendments to IAS 1 and IFR<span class=\"_ _7\"/>S Practice Statement 2)   - Definition of A<span class=\"_ _7\"/>ccounting Estimates (Amendments to IAS 8)  Note 9.1<span class=\"_ _8\"/>1 Pr<span class=\"_ _7\"/>incipal subsidiar<span class=\"_ _3\"/>ies, joint vent<span class=\"_ _3\"/>ures,<span class=\"_ _7\"/> associates and in<span class=\"_ _3\"/>vestments  Ov<span class=\"_ _7\"/>er<span class=\"_ _5\"/>view as per 31 December 2022  SUBSIDIARIES  Eur<span class=\"_ _7\"/>ope, Middle East &amp; <span class=\"_ _9\"/>Afr<span class=\"_ _3\"/>ica  Belgium  Bar<span class=\"_ _7\"/>u Inv<span class=\"_ _7\"/>estment B.V<span class=\"_ _1\"/>.   V<span class=\"_ _3\"/>opak Chemical <span class=\"_ _8\"/>T<span class=\"_ _9\"/>erminals Belgium N.V<span class=\"_ _8\"/>.          V<span class=\"_ _3\"/>opak <span class=\"_ _a\"> </span>T<span class=\"_ _9\"/>erminal <span class=\"_ _23\"> </span>Eurot<span class=\"_ _5\"/>ank <span class=\"_ _23\"> </span>N.V<span class=\"_ _9\"/>. <span class=\"_ _23\"> </span> The Nether<span class=\"_ _7\"/>lands  V<span class=\"_ _3\"/>opak Chemicals Logistics Netherlands B<span class=\"_ _3\"/>.V<span class=\"_ _9\"/>.    V<span class=\"_ _3\"/>opak Energy <span class=\"_ _8\"/>T<span class=\"_ _9\"/>erminals Netherlands B.V<span class=\"_ _8\"/>.   V<span class=\"_ _3\"/>opak Europe &amp; Africa B<span class=\"_ _3\"/>.V<span class=\"_ _9\"/>.   V<span class=\"_ _3\"/>opak Finance B.V<span class=\"_ _1\"/>.    V<span class=\"_ _3\"/>opak Global Engineering Ser<span class=\"_ _5\"/>vices B.V<span class=\"_ _1\"/>.   V<span class=\"_ _3\"/>opak Global IT B<span class=\"_ _3\"/>.V<span class=\"_ _9\"/>.   V<span class=\"_ _3\"/>opak Global Procurement Services B.V<span class=\"_ _8\"/>.   V<span class=\"_ _3\"/>opak Global Shared Ser<span class=\"_ _5\"/>vices B.V<span class=\"_ _1\"/>.   V<span class=\"_ _3\"/>opak LNG Holding B.V<span class=\"_ _1\"/>.    V<span class=\"_ _3\"/>opak Maasvlakte <span class=\"_ _8\"/>T<span class=\"_ _9\"/>erminal B.V<span class=\"_ _8\"/>.   V<span class=\"_ _3\"/>opak Nederland B.V<span class=\"_ _1\"/>.    V<span class=\"_ _3\"/>opak <span class=\"_ _8\"/>T<span class=\"_ _9\"/>erminal Botlek B<span class=\"_ _7\"/>.V<span class=\"_ _9\"/>.     V<span class=\"_ _3\"/>opak <span class=\"_ _8\"/>T<span class=\"_ _9\"/>erminal Chemiehaven B<span class=\"_ _3\"/>.V<span class=\"_ _9\"/>.    V<span class=\"_ _3\"/>opak <span class=\"_ _8\"/>T<span class=\"_ _9\"/>erminal Europoort B.V<span class=\"_ _8\"/>.   V<span class=\"_ _3\"/>opak <span class=\"_ _8\"/>T<span class=\"_ _9\"/>erminal Laurenshaven B<span class=\"_ _3\"/>.V<span class=\"_ _9\"/>.    V<span class=\"_ _3\"/>opak T<span class=\"_ _9\"/>erminal TTR <span class=\"_ _21\"/>B.V<span class=\"_ _1\"/>. <span class=\"_\"> </span> <span class=\"_ _4\"/><span class=\"ws3\"> </span>V<span class=\"_ _3\"/>opak <span class=\"_ _8\"/>T<span class=\"_ _9\"/>erminal <span class=\"_ _3\"/>Vlaardingen B.V<span class=\"_ _8\"/>.   V<span class=\"_ _3\"/>opak <span class=\"_ _8\"/>T<span class=\"_ _9\"/>erminal <span class=\"_ _3\"/>Vlissingen B.V<span class=\"_ _8\"/>.    V<span class=\"_ _3\"/>opak <span class=\"_ _8\"/>T<span class=\"_ _9\"/>erminals North Netherlands B.V<span class=\"_ _8\"/>.   V<span class=\"_ _3\"/>opak <span class=\"_ _9\"/>V<span class=\"_ _3\"/>entures B.V<span class=\"_ _1\"/>.  South Afr<span class=\"_ _7\"/>ica <span class=\"_ _4\"/> V<span class=\"_ _3\"/>opak Reatile Ric<span class=\"_ _3\"/>hards Ba<span class=\"_ _7\"/>y (Pty) Ltd. (70%)   V<span class=\"_ _3\"/>opak South Africa De<span class=\"_ _3\"/>velopments (Pty) Ltd. (70%)   V<span class=\"_ _3\"/>opak <span class=\"_ _8\"/>T<span class=\"_ _9\"/>erminal Durban (Pt<span class=\"_ _5\"/>y) Ltd. (70%)  Switz<span class=\"_ _7\"/>er<span class=\"_ _7\"/>land  Monros A<span class=\"_ _9\"/>G (in liquidation)  United Kingdom  V<span class=\"_ _3\"/>opak Holding Bacrippuls Ltd.  Asia P<span class=\"_ _3\"/>acific  A<span class=\"_ _3\"/>ustralia  V<span class=\"_ _3\"/>opak <span class=\"_ _8\"/>T<span class=\"_ _9\"/>erminal Dar<span class=\"_ _4\"/>win Pty Ltd.   V<span class=\"_ _3\"/>opak <span class=\"_ _8\"/>T<span class=\"_ _9\"/>erminals A<span class=\"_ _7\"/>ustralia Pt<span class=\"_ _5\"/>y Ltd.   V<span class=\"_ _3\"/>opak <span class=\"_ _8\"/>T<span class=\"_ _9\"/>erminals Sy<span class=\"_ _7\"/>dney Pty Ltd.   V<span class=\"_ _3\"/>opak <span class=\"_ _9\"/>Victoria Energy <span class=\"_ _9\"/>T<span class=\"_ _9\"/>erminal Pty Ltd.  China  V<span class=\"_ _3\"/>opak (Huizhou) <span class=\"_ _8\"/>T<span class=\"_ _9\"/>erminal Ser<span class=\"_ _5\"/>vices Co. Ltd.   V<span class=\"_ _3\"/>opak China Management Company Ltd.   V<span class=\"_ _3\"/>opak <span class=\"_ _8\"/>T<span class=\"_ _9\"/>erminal Ningbo Co. Ltd. (85%)   1  V<span class=\"_ _3\"/>opak <span class=\"_ _8\"/>T<span class=\"_ _9\"/>erminal Shangdong Lanshan Ltd. (41<span class=\"_ _8\"/>.70%)  V<span class=\"_ _3\"/>opak <span class=\"_ _8\"/>T<span class=\"_ _9\"/>erminal Zhangjiagang Ltd.  Indonesia  PT <span class=\"_ _3\"/>V<span class=\"_ _9\"/>opak <span class=\"_ _9\"/>T<span class=\"_ _9\"/>erminal Merak (94.81%)  Singapor<span class=\"_ _3\"/>e  Monros Insurance Pte. Ltd.   V<span class=\"_ _3\"/>opak A<span class=\"_ _7\"/>sia Pte. Ltd.    2  V<span class=\"_ _3\"/>opak Gas <span class=\"_ _8\"/>T<span class=\"_ _9\"/>erminal LLP (55.6%)  3  V<span class=\"_ _3\"/>opak <span class=\"_ _8\"/>T<span class=\"_ _9\"/>erminal P<span class=\"_ _7\"/>enjuru Pte. Ltd. (69.5%)  4  V<span class=\"_ _3\"/>opak <span class=\"_ _8\"/>T<span class=\"_ _9\"/>erminals Singapore Pte. Ltd. (69.5%) Vietnam  V<span class=\"_ _3\"/>opak (Vietnam) Co. Ltd.  Amer<span class=\"_ _3\"/>icas  Brazil  V<span class=\"_ _3\"/>opak Brasil S.A.  Canada  V<span class=\"_ _3\"/>opak Dev<span class=\"_ _7\"/>elopment Canada Inc.  Colombia  V<span class=\"_ _3\"/>opak Colombia S.A.  Mexico  V<span class=\"_ _3\"/>opak Mexico S<span class=\"_ _3\"/>.A. de C.V<span class=\"_ _9\"/>. (99.87%)   P<span class=\"_ _7\"/>anama  V<span class=\"_ _3\"/>opak P<span class=\"_ _7\"/>anama Atlantic Inc.  United Stat<span class=\"_ _7\"/>es  V<span class=\"_ _3\"/>opak North America Inc.   V<span class=\"_ _3\"/>opak <span class=\"_ _8\"/>T<span class=\"_ _9\"/>erminal Deer Park Inc.   V<span class=\"_ _3\"/>opak <span class=\"_ _8\"/>T<span class=\"_ _9\"/>erminal Long Beac<span class=\"_ _3\"/>h Inc.   V<span class=\"_ _3\"/>opak <span class=\"_ _8\"/>T<span class=\"_ _9\"/>erminal Los <span class=\"_ _7\"/>Angeles Inc.    V<span class=\"_ _3\"/>opak <span class=\"_ _8\"/>T<span class=\"_ _9\"/>erminals North America Inc.    V<span class=\"_ _3\"/>opak <span class=\"_ _8\"/>T<span class=\"_ _9\"/>erminals Savannah Inc.   1 <span class=\"_ _24\"> </span>V<span class=\"_ _3\"/>opak <span class=\"_ _9\"/>T<span class=\"_ _3\"/>erminal P<span class=\"_ _7\"/>enjuru Pte. Ltd. 60% ownership in <span class=\"_ _9\"/>V<span class=\"_ _7\"/>opak <span class=\"_ _9\"/>T<span class=\"_ _3\"/>erminals Shangdong Lanshan  2 <span class=\"_ _24\"> </span>V<span class=\"_ _3\"/>opak <span class=\"_ _9\"/>T<span class=\"_ _3\"/>erminals Singapore Pte. Ltd. 80% ownership in <span class=\"_ _3\"/>V<span class=\"_ _3\"/>opak Gas <span class=\"_ _3\"/>T<span class=\"_ _9\"/>erminal LLP  3 <span class=\"_ _24\"> </span>V<span class=\"_ _3\"/>opak <span class=\"_ _9\"/>T<span class=\"_ _3\"/>erminals Singapore Pte. Ltd. 1<span class=\"_ _3\"/>0<span class=\"_ _5\"/>0% ownership in <span class=\"_ _3\"/>V<span class=\"_ _3\"/>opak <span class=\"_ _9\"/>T<span class=\"_ _3\"/>erminals P<span class=\"_ _7\"/>enjuru Pte. Ltd.  4 <span class=\"_ _24\"> </span>V<span class=\"_ _3\"/>opak Holding Singapore Pte. Ltd 69.5% ownership in <span class=\"_ _3\"/>V<span class=\"_ _7\"/>opak <span class=\"_ _9\"/>T<span class=\"_ _9\"/>erminals Singapore Pte. Ltd  JOINT VENTURES <span class=\"_ _5\"/> Eur<span class=\"_ _7\"/>ope, Middle East &amp; <span class=\"_ _9\"/>Afr<span class=\"_ _3\"/>ica  Belgium  NxtP<span class=\"_ _3\"/>ort International B.V<span class=\"_ _8\"/>. (50%)  The Nether<span class=\"_ _7\"/>lands  Diize B<span class=\"_ _7\"/>.V<span class=\"_ _8\"/>. (50%)   Gate terminal B.V<span class=\"_ _1\"/>. (50%)   MultiCore C.V<span class=\"_ _8\"/>. (25%)  P<span class=\"_ _7\"/>akistan  Engro <span class=\"_ _3\"/>V<span class=\"_ _9\"/>opak <span class=\"_ _9\"/>T<span class=\"_ _9\"/>erminal Ltd. (50%)  Spain  T<span class=\"_ _9\"/>erminales Quimicos S<span class=\"_ _7\"/>.A. (T<span class=\"_ _9\"/>erquimsa) (50%)  United <span class=\"_ _9\"/>Ar<span class=\"_ _7\"/>ab Emirat<span class=\"_ _7\"/>es  V<span class=\"_ _3\"/>opak Horizon F<span class=\"_ _9\"/>ujairah Ltd. (33.33%)  Asia P<span class=\"_ _3\"/>acific  China  Guangxi Hualin Jet<span class=\"_ _3\"/>ty Co. Ltd. (51%)    Huizhou QuanMei P<span class=\"_ _3\"/>etroc<span class=\"_ _7\"/>hemical <span class=\"_ _9\"/>T<span class=\"_ _9\"/>erminal Co. Ltd. (30%)  Tianjin Lingang <span class=\"_ _3\"/>V<span class=\"_ _9\"/>opak Bohua Jet<span class=\"_ _3\"/>t<span class=\"_ _5\"/>y Co. Ltd. (30%)    V<span class=\"_ _3\"/>opak (Qinzhou) Jet<span class=\"_ _3\"/>ty Co. Ltd. (51%)   V<span class=\"_ _3\"/>opak Bohua (Tianjin) <span class=\"_ _8\"/>T<span class=\"_ _9\"/>erminal Co. Ltd. (50%)    V<span class=\"_ _3\"/>opak <span class=\"_ _21\"> </span>Nanjiang <span class=\"_\"> </span>P<span class=\"_ _9\"/>etrochemicals T<span class=\"_ _8\"/>erminal Tianjin Co. Ltd. (50%)   V<span class=\"_ _3\"/>opak Shanghai Logistics Co. Ltd. (50%)   India  A<span class=\"_ _7\"/>egis <span class=\"_ _3\"/>V<span class=\"_ _3\"/>opak <span class=\"_ _9\"/>T<span class=\"_ _8\"/>erminals Ltd. (49%)  Indonesia  PT Jakarta <span class=\"_ _9\"/>T<span class=\"_ _9\"/>ank <span class=\"_ _8\"/>T<span class=\"_ _9\"/>erminal (49%)  Kor<span class=\"_ _3\"/>ea  V<span class=\"_ _3\"/>opak <span class=\"_ _8\"/>T<span class=\"_ _9\"/>erminals Korea Ltd. (51%)  Malaysia  5  Kertih <span class=\"_ _8\"/>T<span class=\"_ _9\"/>erminals Sdn. Bhd. (20.85%)  6  P<span class=\"_ _3\"/>engerang <span class=\"_ _9\"/>T<span class=\"_ _9\"/>erminals Sdn. Bhd. (49%)  7  P<span class=\"_ _3\"/>engerang Independent <span class=\"_ _9\"/>T<span class=\"_ _9\"/>erminals Sdn. Bhd. (44.1<span class=\"_ _9\"/>0%) Singapor<span class=\"_ _3\"/>e  8  Ban<span class=\"_ _7\"/>yan Ca<span class=\"_ _7\"/>vern Storage Services Pte. Ltd. (31<span class=\"_ _9\"/>.275%) Thailand  Thai <span class=\"_ _8\"/>T<span class=\"_ _9\"/>ank <span class=\"_ _9\"/>T<span class=\"_ _9\"/>erminal Ltd. (35%) (2021: 49%)  Amer<span class=\"_ _3\"/>icas  Brazil  Uniao-V<span class=\"_ _3\"/>opak Armaz<span class=\"_ _3\"/>ens Gerais Ltda. (50%)  Mexico  T<span class=\"_ _9\"/>erminal de <span class=\"_ _7\"/>Altamira de S. de R.L. de C.V<span class=\"_ _8\"/>. (60%)  P<span class=\"_ _7\"/>anama  P<span class=\"_ _7\"/>ayardi <span class=\"_ _8\"/>T<span class=\"_ _9\"/>erminal Compan<span class=\"_ _7\"/>y S. de R.L. (50%)  United Stat<span class=\"_ _7\"/>es  V<span class=\"_ _3\"/>opak Industrial Infrastruct<span class=\"_ _3\"/>ure Americas LLC (VIIA) (50%)   V<span class=\"_ _3\"/>opak Moda Houston LLC (50%)  5 <span class=\"_ _24\"> </span>V<span class=\"_ _3\"/>opak <span class=\"_ _9\"/>T<span class=\"_ _3\"/>erminal P<span class=\"_ _7\"/>enjuru Pte. Ltd. 30% ownership in K<span class=\"_ _7\"/>ertih <span class=\"_ _9\"/>T<span class=\"_ _3\"/>erminals Sdn. Bhd.  6 <span class=\"_ _24\"> </span>V<span class=\"_ _3\"/>opak <span class=\"_ _9\"/>T<span class=\"_ _3\"/>erminal P<span class=\"_ _7\"/>engerang B.V<span class=\"_ _9\"/>. 49% ownership in P<span class=\"_ _3\"/>engerang <span class=\"_ _9\"/>T<span class=\"_ _3\"/>erminals Sdn. Bhd.  7 <span class=\"_ _24\"> </span>P<span class=\"_ _7\"/>engerang <span class=\"_ _9\"/>T<span class=\"_ _9\"/>erminals Sdn. Bhd. 89.999% ownership in P<span class=\"_ _7\"/>engerang Independent <span class=\"_ _9\"/>T<span class=\"_ _3\"/>erminals Sdn. Bhd. <span class=\"_ _8\"/> 8 <span class=\"_ _24\"> </span>V<span class=\"_ _3\"/>opak <span class=\"_ _9\"/>T<span class=\"_ _3\"/>erminals Singapore Pte. Ltd. 45% ownership in Ban<span class=\"_ _7\"/>yan Cav<span class=\"_ _7\"/>ern Storage Ser<span class=\"_ _5\"/>vices Pte. Ltd  A<span class=\"_ _7\"/>SSOCIA<span class=\"_ _9\"/>TES  Canada  Ridley Island LPG Export GP Inc. (30%)  China  Zhangzhou Gulei Haiteng Jet<span class=\"_ _3\"/>ty Investment and Management Co. Ltd. (30%)  Colombia  Sociedad P<span class=\"_ _3\"/>ortuaria El Cay<span class=\"_ _3\"/>o S.A. ESP (SPEC) (49%)  India  Hindustan A<span class=\"_ _7\"/>egis LPG Ltd. (24%)  Malaysia  P<span class=\"_ _3\"/>engerang <span class=\"_ _9\"/>T<span class=\"_ _9\"/>erminals (T<span class=\"_ _8\"/>wo) Sdn. Bhd. (25%)  The Nether<span class=\"_ _7\"/>lands  V<span class=\"_ _3\"/>opak <span class=\"_ _8\"/>T<span class=\"_ _9\"/>erminal Eemshaven B<span class=\"_ _3\"/>.V<span class=\"_ _9\"/>. (1<span class=\"_ _9\"/>0%)   9  Helios Eemshav<span class=\"_ _7\"/>en B.V<span class=\"_ _1\"/>. (8%)  Maasvlakte Olie <span class=\"_ _9\"/>T<span class=\"_ _8\"/>erminal N.V<span class=\"_ _9\"/>. (1<span class=\"_ _3\"/>6.67%)  P<span class=\"_ _7\"/>akistan  Engro Elengy <span class=\"_ _9\"/>T<span class=\"_ _8\"/>erminal Pakistan Ltd. (44%)  Saudi Arabia <span class=\"_ _5\"/> Jubail Chemicals Storage &amp; Services Company LLC / Chemtank (22%)  9 <span class=\"_ _24\"> </span>V<span class=\"_ _3\"/>opak has a 1<span class=\"_ _7\"/>0% share, holds 80% of the shares in Helios Eemshav<span class=\"_ _7\"/>en B.V<span class=\"_ _9\"/>.  INVESTMENTS  Finland  A<span class=\"_ _7\"/>eromon Oy (1<span class=\"_ _3\"/>5.07%)  Ger<span class=\"_ _7\"/>man<span class=\"_ _7\"/>y  Hydrogenious LOHC <span class=\"_ _8\"/>T<span class=\"_ _9\"/>ec<span class=\"_ _3\"/>hnologies GmbH (1<span class=\"_ _3\"/>0.3%)  The Nether<span class=\"_ _7\"/>lands  Elestor B.V<span class=\"_ _1\"/>. (5.18%)    Falc<span class=\"_ _3\"/>ker Holding B<span class=\"_ _7\"/>.V<span class=\"_ _8\"/>. (25.4%)   Harbour Oil B.V<span class=\"_ _1\"/>. (33.3)   Harbour Stone B.V<span class=\"_ _1\"/>. (24.9%)   HyET Energy S<span class=\"_ _3\"/>ystems B.V<span class=\"_ _1\"/>. (1<span class=\"_ _3\"/>0.1%)   HyET Holding B<span class=\"_ _3\"/>.V<span class=\"_ _9\"/>. (5%)   HyET Hy<span class=\"_ _7\"/>drogen B.V<span class=\"_ _1\"/>. (5%)   HyperSoniq B.V<span class=\"_ _1\"/>. (25.5%)   T<span class=\"_ _9\"/>eqpla<span class=\"_ _7\"/>y B.V<span class=\"_ _8\"/>. (24%)   TWTG Group B.V<span class=\"_ _1\"/>. (30%)           Xycle <span class=\"_ _23\"> </span>Europoort <span class=\"_ _24\"> </span>B<span class=\"_ _7\"/>.V<span class=\"_ _8\"/>. <span class=\"_ _24\"> </span>(33.33%) <span class=\"_ _24\"> </span> Saudi Arabia <span class=\"_ _5\"/> SABIC <span class=\"_ _8\"/>T<span class=\"_ _9\"/>erminal Ser<span class=\"_ _5\"/>vices Company Ltd. / Sabtank (1<span class=\"_ _9\"/>0%)  Singapor<span class=\"_ _3\"/>e  P<span class=\"_ _3\"/>erformance Rotors Pte. Ltd. (20%)  United Kingdom  Adv<span class=\"_ _7\"/>anced 3D Laser Solutions Limited (25%)  United Stat<span class=\"_ _7\"/>es  Aquacy<span class=\"_ _7\"/>cl Inc. (1<span class=\"_ _3\"/>5%)   Data.world Inc. (2.1<span class=\"_ _3\"/>7%)  V<span class=\"_ _9\"/>enezuela  V<span class=\"_ _3\"/>opak <span class=\"_ _9\"/>V<span class=\"_ _3\"/>enezuela S.A. (1<span class=\"_ _3\"/>00%)  Note 9.12 Ev<span class=\"_ _3\"/>ents aft<span class=\"_ _7\"/>er the repor<span class=\"_ _3\"/>ting period  No subsequent ev<span class=\"_ _7\"/>ents hav<span class=\"_ _7\"/>e occurred. P<span class=\"_ _7\"/>rofit Appropriation Articles of <span class=\"_ _8\"/>Association Pro<span class=\"_ _7\"/>visions Gov<span class=\"_ _7\"/>er<span class=\"_ _7\"/>ning Profit <span class=\"_ _8\"/>Appropr<span class=\"_ _3\"/>iation  The <span class=\"_ _7\"/>Articles of A<span class=\"_ _7\"/>ssociation provisions go<span class=\"_ _7\"/>verning profit appropriation are contained in Articles 9 and 27<span class=\"_ _d\"/>.  The rele<span class=\"_ _7\"/>vant paragraphs of these articles are as f<span class=\"_ _7\"/>ollows:  Article 1<span class=\"_ _7\"/>9.2.<span class=\"_ _7\"/>  In the Annual General Meeting of Shareholders:   b. the annual accounts as prepared by the management board will be presented to the general meeting for adoption and the allocation of profits will \u2013 with due observance of the provisions of article 27 \u2013 be determined.  Article 27<span class=\"_ _d\"/>.12.<span class=\"_ _7\"/>  The profits remaining af<span class=\"_ _3\"/>ter application of the previous paragraphs shall be at the free disposal of the general meeting, with due obser<span class=\"_ _5\"/>vance of the fact that no dividend can be distributed when, at the time of the distribution, the dividend reser<span class=\"_ _5\"/>ve finance pref<span class=\"_ _3\"/>erence shares has a positive balance and furthermore pro<span class=\"_ _7\"/>vided that no further distributions shall be made on the anti-takeov<span class=\"_ _7\"/>er pref<span class=\"_ _7\"/>erence shares and the finance pref<span class=\"_ _7\"/>erence shares and no profits shall be (further) reser<span class=\"_ _5\"/>ved f<span class=\"_ _7\"/>or the account of the finance pref<span class=\"_ _7\"/>erence shares.  ",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfNotesAndOtherExplanatoryInformationExplanatory",
    "language": "en",
    "entity": "scheme:724500UL634GFV1KYF10",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
   }
  },
  "s9_notes__5__6-1": {
   "value": "Proposed Profit Appropriation The proposal to the Annual General Meeting will be to distribute a dividend in cash ofEUR 1.30 (2021: EUR 1.25 in cash) per ordinary share, with a nominal value of EUR 0.50. Provided that the Annual General Meeting adopts the financial statements, the dividendfor the 2022 financial year is expected to be paid on 5 May 2023. Note 5.3 Retained earnings In EUR millions  2022  2021Balance at 1 January  3,104.1  3,036.1 Dividend paid in cash  - 156.8  - 150.5 Measurement of equity-settled share-based payment arrangements  3.3  7.8 Vested shares under equity-settled share-based payment arrangements  - 5.3  - 3.5 Net profit / (loss) attributable to owners of parent  - 168.4  214.2 Use of exchange differences on net investments (to statement of income)  0.2  \u2013 1 Other - 5.9  \u2013 Balance at 31 December  2,771.2  3,104.1 1  Derecognition of DTA\u2019s Dutch fiscal unity previously recognized in retained earnings Of the reserves, EUR 2,058.1million (2021: EUR 2,273.5 million) can be distributed freely (see note 4 of the Company Financial Statements). The actual dividend per ordinary share paid in cash in 2022 was EUR 1.25 (2021: EUR 1.20). For the proposed dividend per share, reference is made to the paragraph Profit Appropriation. Profit Appropriation Articles of Association Provisions Governing Profit Appropriation  The Articles of Association provisions governing profit appropriation are contained in Articles 9 and 27.  The relevant paragraphs of these articles are as follows:  Article 19.2.  In the Annual General Meeting of Shareholders:   b. the annual accounts as prepared by the management board will be presented to the general meeting for adoption and the allocation of profits will \u2013 with due observance of the provisions of article 27 \u2013 be determined.  Article 27.12.  The profits remaining after application of the previous paragraphs shall be at the free disposal of the general meeting, with due observance of the fact that no dividend can be distributed when, at the time of the distribution, the dividend reserve finance preference shares has a positive balance and furthermore provided that no further distributions shall be made on the anti-takeover preference shares and the finance preference shares and no profits shall be (further) reserved for the account of the finance preference shares.  ",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfDividendsExplanatory",
    "language": "en",
    "entity": "scheme:724500UL634GFV1KYF10",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
   }
  },
  "s9_notes__5__8": {
   "value": "1.3",
   "decimals": 2,
   "dimensions": {
    "concept": "ifrs-full:DividendsProposedOrDeclaredBeforeFinancialStatementsAuthorisedForIssueButNotRecognisedAsDistributionToOwnersPerShare",
    "entity": "scheme:724500UL634GFV1KYF10",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
    "unit": "iso4217:EUR/xbrli:shares"
   }
  },
  "s9_notes__6__7": {
   "value": "1.25",
   "decimals": 2,
   "dimensions": {
    "concept": "ifrs-full:DividendsRecognisedAsDistributionsToOwnersPerShare",
    "entity": "scheme:724500UL634GFV1KYF10",
    "period": "2021-01-01T00:00:00/2022-01-01T00:00:00",
    "unit": "iso4217:EUR/xbrli:shares"
   }
  },
  "pp-value-288-1": {
   "value": "Koninklijke Vopak N.V. ",
   "dimensions": {
    "concept": "ifrs-full:NameOfParentEntity",
    "language": "en",
    "entity": "scheme:724500UL634GFV1KYF10",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
   }
  },
  "pp-value-289-1": {
   "value": "Koninklijke Vopak  N.V.",
   "dimensions": {
    "concept": "ifrs-full:NameOfUltimateParentOfGroup",
    "language": "en",
    "entity": "scheme:724500UL634GFV1KYF10",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
   }
  },
  "pp-value-290-1": {
   "value": "Westerlaan 10  3016 CK Rotterdam  The Netherlands  ",
   "dimensions": {
    "concept": "ifrs-full:AddressOfRegisteredOfficeOfEntity",
    "language": "en",
    "entity": "scheme:724500UL634GFV1KYF10",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
   }
  }
 }
}